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This paper aims to integrate insights from the behavioral theory of the firm and the dynamic capabilities perspective to explain how the historical and social attainment discrepancies motivate firms to change. Specifically, this paper proposes that a negative historical attainment discrepancy encourages the firm to engage in strategic change to solve its performance problems. In contrast, this paper advanced that a positive social attainment discrepancy motivates strategic change as a mechanism to bolster the firm’s position within the industry. Further, this paper integrated the moderating effects of industry dynamism and industry munificence.

This paper tests hypotheses using panel data on 2,435 US public firms over the years from 1996 to 2018. This paper uses a fixed-effects regression model to empirically test these hypotheses.

This paper finds empirical support for the effects of both the negative historical attainment discrepancy and the positive social attainment discrepancy on the firm’s tendency to engage in strategic change. As for the hypothesized moderating effects, this paper finds that industry munificence accentuated the effects of both attainment discrepancies on the firm’s tendency to engage in strategic change. However, the results do not support the hypothesized moderating effect of industry dynamism on either of these attainment discrepancies.

This paper contributes to the research on the separate effects of historical and social comparisons within the context of strategic change. Further, the paper bolsters our understanding of how performance feedback increases the firm’s tendency to change. Finally, the paper integrates theoretical views from the behavioral theory of the firm and the dynamic capabilities perspective on how socially high-performing firms may build and sustain their competitive advantage through organizational change.

In the stock market, herding behavior occurs when investors mimic the actions of others in their investment decisions. As a result, the market becomes inefficient and speculative bubbles form. This study aims to investigate the relationship between information, overconfidence, market sentiment, experience and national culture, and herding behavior among Malaysian investors. A total of 400 questionnaires are distributed to bank institutions' investors. The survey design based on cross-sectional data is analyzed using the Partial Least Squares Structural Equation Model. The results indicate that information, market sentiment, experience, and national culture are positively related to herding behavior, while overconfidence has no effect. With this, the government should strengthen regulations to prevent the dissemination of misleading information. Moreover, investors are encouraged to overcome narrow thinking by expanding their understanding of different cultures when making investment decisions.

The research examines the role of Smart HRM 4.0 in developing dynamic capabilities and its impact on human resources and organizational performance.

The authors used a grounded theory approach and conducted interviews of 39 senior HR managers from IT, ITeS, consulting, services and E-commerce companies through a semi-structured questionnaire. The authors analyzed the interview data with NVivo 8.0 to identify the themes related to the dynamic capabilities to Smart 4.0 HR practices.

The study provides a conceptual framework for organizational performance using dynamic capabilities built due to Smart HRM 4.0 practices. Organizations use Smart HRM 4.0 to develop dynamic capabilities: building learning and knowledge sharing capability and integration, reconfiguration capabilities. Further, the dynamic capabilities contribute to HR and organizational performance.

This study divulges the role of Smart HRM 4.0 practices in developing dynamic capabilities in Indian firms. The study provides an appealing insight into the structural link between Smart HRM 4.0 and dynamic capabilities, which are yet to be explored. This study extends the Smart HRM 4.0 and dynamic capabilities concepts for senior HR professionals and contributes to human resource management and organizational performance literature.

This study aims to investigate the impact of extensive board diversity on firm performance from the perspective of resource-based view (RBV) theory in the context of Pakistan.

The analyses are made using a panel random-effects model and generalized method of moment (GMM) across 188 non-financial firms listed in the Pakistan Stock Exchange (PSX) over the period of 2009–2020. The robustness of findings is checked through alternative measurements of the variables and alternative estimation techniques.

The results show that board members' nationality, ethnicity and educational level diversities are significantly positively related to firm performance. In contrast, age and educational background diversities negatively affect firm performance. However, gender and tenure diversities have an insignificant relationship with firm performance.

This study is conducted in the context of Pakistani firms; thus, the findings may not be generalizable to other economies because different economies have different institutional settings and governance structures.

The policy-makers should encourage the inclusion of board members' nationality, ethnicity and educational level diversities having relevant educational backgrounds to improve firms' competitive performance. The suggested structure of the corporate board may improve firm performance by attracting multiple stakeholders and fulfilling their expectations.

The appointment of a director should be based on merit rather than on political connections or personnel relationships to improve social welfare and avoid their negative impact on firm competitive performance.

To the best of the authors' knowledge, this is the first study that investigates the impact of board diversity on firm accounting-based performance and market-based performance in the emerging economy of Pakistan. This study uses RBV theory to provide a unique corporate governance structure based on board diversity, particularly in Pakistan.

This study aims to progress scholarly understanding of the staycation phenomenon by examining customer segments and documenting local customers’ attribute preferences.

A stated choice experiment is used to examine customer preferences for staycation package attributes. Latent class discrete choice modeling is deployed to classify customers into market segments based on their preferences. The profile of each segment is enhanced by documenting customer characteristics and consumption styles.

Six prominent market segments are identified using a combination of sociodemographics, consumption styles and staycation attribute preferences. The findings draw on consumer experiences during the COVID-19 pandemic to generate theoretical insights into preferred staycation packages. Empirically, the estimation results from the research framework and choice experimental method demonstrate that staycation market segments exhibit distinct preference structures.

Practitioners and policymakers can incorporate the findings of this study in designing and/or assessing staycation packages. This can ensure differentiated products for defined segments that resonate within local communities through positive word of mouth, thus offering prospective spillovers to visiting friends and relatives.

This is a pioneering study on preference heterogeneity from the customer perspective, with a focus on staycation markets. The findings can encourage and assist hotel sector leaders to capitalize on local market developments to achieve a more resilient hospitality business model.

Optimal application and commitment toward financial management practices enhance organization performance. This study aims to assess the influence of financial management practices on organizational performance of small- and medium-scale enterprises.

Data were collected from 45 small-sized and 72 medium-sized firms. Data supported the hypothesized relationships. Construct reliability and validity were established through confirmatory factor analysis. The conceptual model and hypotheses were evaluated by using structural equation modeling.

The results indicate that working capital significantly influenced organizational performance. Capital budget management significantly influenced organizational performance. A non-significant influence of asset management on organizational performance was observed.

The generalizability of the findings will be constrained due to the research’s SMEs focus and cross-sectional data.

The study’s findings will serve as valuable pointers for stakeholders and decision-makers of SMEs in the development of well-articulated and proactive financial management systems to ensure competitiveness, sustainability, viability and financial competences.

The study adds to the corpus of literature by evidencing empirically that financial management practices significantly influenced SMEs’ performance.

With the continuous improvement of social and economic development as well as the rising level of demand for spiritual life, the design of cultural and creative products has ushered in new opportunities and challenges. Therefore the research related to cultural and creative products design is an inevitable choice for industrial innovation and market competition. The article aims to analyze the frontier hotspots and trend evolution of theoretical research on cultural and creative design in China by presenting different research fields, personnel and institutions embodied by cultural and creative products, thus providing a forward-looking development reference for China's special cultural and creative product design practice.

In this paper, the visualized citation analysis tool — CiteSpace V is used to analyze and map the relevant literature of Chinese cultural and creative design in CNKI (Chinese National Knowledge Infrastructure) as the data sources, through bibliometric methods, in order to study the application development of Chinese cultural and creative design and provide reference for the application research of Chinese cultural and creative industries.

With the improvement of China's comprehensive strength, cultural self-confidence and strategy are being paid more and more attention by scholars; with the future research of China's cultural and creative design theory, cross-integration becomes the future trend; with the gradual maturity of China's cultural and creative design methodology, how to choose the right method for pioneering research is a difficulty for the future development of cultural and creative design; with the continuous development of China's economy, the method construction of innovative cultural and creative industry system becomes the focus of future research; with the continuous progress of science and technology, the integration of emotion and product industry is the mainstream of future development on cultural and creative design.

Through an objective empirical analysis of the development of Chinese cultural and creative products, it will broaden the research horizons of relevant scholars, understand the development direction of China's cultural and creative industries, enrich the design practice application of Chinese cultural and creative products, enhance the understanding of international counterparts on Chinese cultural and creative design research and promote the exchange among international counterparts.

The purpose of this study is to identify the process of virtual influencer stickiness in the age of influencer marketing, which has received little attention in the literature. This is essential because the research creates a theoretical model of follower loyalty/stickiness to virtual influencer techniques from the standpoint of influencer marketing, which has a substantial effect on the evolution of the global marketing world.

In 2022, 302 people who currently follow an Instafamous virtual influencer took part in an Instagram self-administered online survey.

The findings show that both expertise and trustworthiness have a positive and significant influence on parasocial interaction, which in turn has a significant influence on virtual engagement and stickiness.

This research will specifically assist international readers in understanding how to harness and increase the efficiency and efficacy of interactive marketing strategies and methods to engage and retain followers of Instafamous virtual influencer. Moreover, the findings will be beneficial to opinion leaders, brand managers, company investors, entrepreneurs and service designers.

1. The study pioneers a holistic virtual follower stickiness mechanism that comprises the role of source credibility, parasocial interaction, informational influence and virtual follower’s engagement and their interrelationship to each other.

2. This study is based on parasocial interaction theory and source credibility theory to understand the relationship between virtual followers and influencers stickiness process at social media platforms.

3. In addition, the study examined the subsequent effects of sources of credibility components on parasocial interaction; as well as, on virtual follower engagement and stickiness.

4. This study also categorized and examined the moderating effects exerted by the genres of informative influence of virtual influencer.

The study pioneers a holistic virtual follower stickiness mechanism that comprises the role of source credibility, parasocial interaction, informational influence and virtual follower’s engagement and their interrelationship to each other.

This study is based on parasocial interaction theory and source credibility theory to understand the relationship between virtual followers and influencers stickiness process at social media platforms.

In addition, the study examined the subsequent effects of sources of credibility components on parasocial interaction; as well as, on virtual follower engagement and stickiness.

This study also categorized and examined the moderating effects exerted by the genres of informative influence of virtual influencer.

As a smart service, location-based advertising (LBA) integrates advanced technologies to deliver personalized messages based on a user’s real-time geographic location and needs. However, research has shown that privacy concerns threaten the diffusion of LBA. This research investigates how privacy-related factors (i.e. LBA type, privacy self-efficacy (PSE) and consumer generation) impact consumers’ value-in-use and their intention to use LBA.

This study developed and examined an LBA value-in-use framework that integrates the role of LBA type, consumers’ PSE and consumer generation into the technology acceptance model (TAM). Data were collected through two experiments in the field with a total of 374 consumers. The proposed relationships were tested using PROCESS modeling.

The results reveal that pull (vs push) LBA causes higher value-in-use in terms of perceived usefulness and perceived ease of use, leading to greater usage intention. Further, the differences in the mediated relationship between pull- and push-LBA are larger among consumers of low PSE (vs high PSE) and Generation Z (vs other generations). The findings suggest that the consumer value-in-use brought about by LBA diminishes when using push-LBA for low PSE and Generation Z consumers.

This research is the first to integrate the privacy-related interactions of LBA type and consumer characteristics into TAM to develop a TAM-based LBA value-in-use framework. This study contributes to the literature on service value-in-use, smart services and LBA by clarifying the boundary conditions that determine the effectiveness of LBA in enhancing consumers’ value-in-use.

Although recent literature has examined diverse measures adopted by SMEs to navigate the COVID-19 turbulence, there is a shortage of evidence on how crisis-time strategy creation behaviour and digitalization activities increase (1) sales and (2) cash flow. Thus, predicated on a novel strategy creation perspective, this inquiry aims to investigate the crisis behaviour, sales and cash flow performance of 528 SMEs in Morocco.

Novel links between (1) aggregate wage cuts, (2) variable operating hours, (3) deferred payment to suppliers, (4) deferred payment to tax authorities and (5) sales performance are developed and tested. A further link between sales performance and cash flow is also examined and the analysis is conducted using a non-linear structural equation modelling technique.

While there is a significant association between strategy creation behaviours and sales performance, only variable operating hours have a positive effect. Also, sales performance increases cash flow and this relationship is substantially strengthened by e-commerce digitalization and innovation.

Theoretically, to the best of the authors’ knowledge, this is one of the first inquiries to espouse the strategy creation view to explain SMEs' crisis-time behaviour and digitalization. For practical purposes, to supplement Moroccan SMEs' propensity to seek tax deferrals, it is argued that debt and equity support measures are also needed to boost sales performance and cash flow.