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The purpose of this paper is to investigate the potential link between Sweden’s high reliance on equity capital financing among small and medium-sized enterprises (SMEs) and its recognition as the most innovative economy in Europe according to the European Innovation Scoreboard (EIS). This paper examines the idea that the high levels of trust within Swedish society can explain why private equity financing is more prevalent among Swedish SMEs.

To test these ideas, the authors use data from the Survey on Access to Finance for Enterprises to measure the private equity reliance of firms. The authors also use the EIS to measure the innovation capacity of nations and various aspects of SMEs’ innovation activities. Finally, societal levels of trust are measured through the World Value Survey.

First, the authors find that European countries with a higher proportion of SMEs relying on equity financing tend to be ranked as more innovative by the EIS. Second, the authors find that the correlation between a nation’s share of SMEs relying on equity financing and their level of innovation activities is marginally stronger for product innovations than for business process innovations. Third, the authors find that countries with higher levels of trust tend to have higher equity capital reliance among SMEs.

This study builds upon previous research on equity capital and SMEs’ innovation activity while introducing new insights into the relationship between societal trust and equity financing.

To endure and cope in the rapidly changing environment, it is required of firms to gain a deeper acquisition of knowledge on market dynamics and subsequently concentrate on corporations' capacity to create, restructure and integrate their internal and external competences. Hence, the objective of this study is to investigate the influence of eco-dynamic capability (EDC) on the sustainability performance of small and medium-sized enterprises (SMEs).

Structured questionnaires were used to obtain primary data. The data were solicited from 500 employees and owner-managers of SMEs. The study’s hypotheses were tested using standard multiple regression through IBM SPSS Statistics (version 24).

The study revealed that EDC has a substantial positive effect on the economic, social and environmental sustainability performance dimensions.

The focus of this study is on EDC. Thus, although dynamic capability has been the subject of substantial study, little is known regarding the effect of EDC on the economic sustainability performance (ESP) (financial), environmental sustainability performance (ENSP) and social sustainability performance (SSP) of SMEs, predominantly amongst SMEs in emerging economies.

This paper aimed to determine the self- and co-regulation influences on the community of inquiry (CoI) for collaborative online learning.

A quantitative survey was used on a sample of (N = 626) enrolled postgraduate students in a South African Open Distance and e-Learning (ODeL) university. The measuring instruments were the CoI and the shared metacognitive surveys. Correlation and multiple regression analyses were used to determine the association and influence of self- and co-regulation on the CoI.

The results indicated that self- and co-regulation related to the CoI (teaching, cognitive and social) presences. In addition, the results revealed that self- and co-regulation influence the CoI presences. Self-regulation had the highest influence on teaching and cognitive presence, while co-regulation influenced social presence.

The study’s convenience sampling method from a single university limited the applicability of the findings to other online learning environments.

Higher educational teachers who encourage student self- and co-regulation may enhance their online teaching, cognitive and social presence when studying online. The research’s findings may be valuable to teachers to enable them to provide a more collaborative and interactive online learning environment and promote productive online communities.

This study contributes to the body of knowledge about the relationship between teaching, social and cognitive presence and self- and co-regulation within the CoI framework. Furthermore, there has also been limited research focussing on the dynamics of shared metacognition within the CoI framework in an ODeL context.

There is a need for research examining how governments and firms responded to the coronavirus disease (COVID-19) pandemic. This study investigates the interdependence between governments and innovative small and medium-sized enterprises (SMEs) during the pandemic in relation to the dynamic capabilities and resource dependence theories.

We use World Bank survey data collected immediately before and after the COVID-19 outbreak and a generalized structural equation model to examine the mediating role of government support in the relationship between firm innovation, resilience and survival.

Innovative SMEs exhibited higher resilience and a better chance of survival during the pandemic, partly due to attracting more government support.

This study offers a novel understanding of the government’s role in supporting innovative SMEs during the pandemic. The findings have implications for how government support policies can limit the deadweight effect and the substitution effect.

Bootstrapping is a practitioner-based term adopted in entrepreneurship to describe the techniques employed in micro, small and medium-sized enterprises (MSMEs) to minimise the need for external funding by securing resources at little or no cost and applying strategies to effectively use resources. Working capital management (WCM) is a term used in financial management to define a set of practices used to manage business resources, including cash management. This paper explores the overlap and divergence between these two disciplinary distinct concepts.

A dual methodology is employed. First, the usage of the two terms in prior literature is analysed and synthesised. Second, the study uses factor analysis to explore how bootstrapping practices described by owners of 167 established MSMEs relate to the components of WCM in financial management.

The factor analysis identifies two main bootstrapping practices employed by MSMEs: (1) delaying payments and owner-related bootstrapping and (2) customer-related bootstrapping. Delaying payments is an integral practice in trade payables management and customer-related bootstrapping includes practices that are integral to trade receivables management. Therefore, links between bootstrapping practices and WCM practices are firmly established.

The study is not without limitations. Based on cross-sectional evidence for established firms in Ireland only, future studies could explore cross-country longitudinal panel data to fully examine life cycle and sectoral effects, as well as other external shocks (for example, COVID-19) on bootstrapping and WCM practices. This study does not explain why some factors (for example, joint utilisation and inventory management) are present in some bootstrapping studies and not in others; further case study research might help explain this. Finally, changes in the business environment facing start-ups and established enterprise, including increased digitalisation, online trading, self-employment, remote hub working and sustainability, offer new avenues for bootstrapping research.

This is the first study to comprehensively explore the conceptual and empirical links between bootstrapping and WCM. This study will enable researchers and practitioners in these two distinct disciplines to learn from each other. Accounting researchers and practitioners can broaden their understanding of how WCM “works” in MSME settings. Similarly, entrepreneurship researchers and practitioners can deepen their understanding of how bootstrapping can be adopted by businesses to manage resources effectively.

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.

This article aims to investigate how institutional characteristics affect the level of financial development of economies collectively and compare between developed and undeveloped economies.

A dynamic panel with 131 countries, including developed and developing ones, was utilized; the estimators of the generalized method of moments system (GMM system) model were selected because they have econometric characteristics more suitable for analysis, providing superior statistical precision compared to traditional linear estimation methods.

The results from the full panel suggest that concrete and well-defined institutions are important for financial development, confirming previous research, with a more limited scope than the present work.

Limitations of this research include the availability of data for all countries worldwide, which would make the research broader and more complete.

A panel of countries was used, divided into developed and developing countries, to analyze the impact of institutional variables on the financial development of these countries, which is one of the differentiators of this work. Another differentiator of this research is the presentation of estimates in six different configurations, with emphasis on the GMM system model in one and two steps, allowing for comparison between results.

This paper investigates the effect of state-society relations on the industrially-related growth paths of developed countries.

It introduces a novel theoretical framework, the state-business-labor relations (SBLR) framework, where four main actors are identified: the state, big businesspersons or tycoons, owners and managers of small and medium enterprises (SMEs) or Entrepreneurs and labor. Different SBLR categories or modes are introduced depending on levels of coordination and power relations between the studied actors. The paper then investigates how these SBLR modes, through adopting various policies targeting the industrial sector, lead to different growth paths. Rather than focusing only on economic growth, this research regards a growth path as a matrix of the performance in long-run growth and equality of distribution.

Using regression analysis and statistical data, the results suggest that the Co-Balanced mode, having higher levels of coordination and lower favoritism, leads to the best growth path among the four introduced modes, especially with its emphasis on high levels of venture capital availability and easiness of starting business. while the Lib-Capture mode, characterized by lower coordination and higher favoritism, seems to have the worst growth path and the best implemented policy for this mode is suggested to be high profit taxes that seem to counter the negative impact of the existing high levels of favoritism.

Despite the important findings that this research has reached, this paper is mainly meant to open a further investigation into this topic and open this dimension that the research on VoC and political economy have under-researched. A deeper investigation of SBLR typologies that could only be possible by having richer datasets with more data on coordination for the whole world, rather than only the advanced economies, would further our understanding of the dynamics that shape the growth paths of different countries of the world.

To realize the best industrial growth path, fighting favoritism should be an important objective. The negative impact of favoritism on innovation could not be disregarded in the eve of the fourth industrial revolution, where innovation is increasingly pivotal to future industrial development. Actively engaging societal groups in the policymaking process is important in addressing their concerns and balancing them at the same time. This should lead to the double benefit of formulating better policies that should foster growth as well as provide better distribution of this growth. High levels of coordination should help in realizing this objective. Yet, this could only be possible if societal groups are free to associate and aggregate their power and when there are means of preventing one actor from gaining more favorite treatment and exclusive influence over policymakers. The presence of both powerful and broadly represented business associations and labor unions and the existence of a government interested in coordinating their efforts-rather than letting itself be controlled by one group at the expense of the others-should help in the realization of the best growth path. Thus, institutional reform that empowers societal groups and enables them to defend their interests as well as fights all forms of corruption should lead to the realization of a more prosperous and equitable industrial development, with the “re-industrialization” of the developed world being no exception. The technological and social challenges of intensive automation and digitalization accompanying the fourth industrial revolution make the envisaged institutional reform more urgent.

This paper is introducing a novel theoretical framework for studying the effect of state-society relations, particularly SBLR, on the industrial growth paths of developed countries. It integrates three important bodies of literature in order to build a more comprehensive understanding of the dynamics of state-society relations and their economic consequences. These are the Varieties of Capitalism (VoC), State-Business Relations (SBR) and Industrial Relations. The SBLR framework differentiates between tycoons and entrepreneurs, an important distinction that often goes unnoticed. Different SBLR categories or modes are introduced, depending on levels of coordination and power relations between the actors. It is proposed in this research that the effect on growth paths goes beyond the simple dichotomy between CMEs and LMEs usually present in the literature of VoC and that power relations provide an essential complementary dimension in explaining this causality.

The present research conducts a thorough review of published literature relevant to earnings management (EM) practices in family firms (FFs), utilizing the Scopus database, intending to identify potential directions for future research.

Through a systematic review, this study focuses on identifying and summarizing trends in publications over the years, the journal outlets, geographical contexts, research methodologies, the temporal evolution of theories and the specific constructs under investigation.

Earlier empirical studies suggest that corporate governance enhances integrity and transparency in FFs, thereby reducing EM practices. Contrarily, compliance with International Financial Reporting Standards (IFRS) seems to offer managers more opportunities for convenient EM rather than restricting such practices. Notably, corporate social responsibility (CSR) practices do not appear to mitigate EM practices consistently. The literature, however, reveals inclusive results and areas requiring deeper exploration for more definitive results. For instance, certain corporate governance mechanisms, such as family-specific social and cultural business characteristics, subjective measures of family businesses, behavioral approaches to family owners' decision-making and directors' personal, psychological and social factors, remain largely untested. Additionally, there is a notable research gap concerning the relationship between IFRS, capital structure and EM.

This study’s contributions lie in its comprehensive literature review, identification of research trends and gaps, and its potential to guide future research endeavors in the domain of EM practices in FFs.

The authors propose the concept of “Autonomic Cycle for innovation processes,” which defines a set of tasks of data analysis, whose objective is to improve the innovation process in micro-, small and medium-sized enterprises (MSMEs).

The authors design autonomic cycles where each data analysis task interacts with each other and has different roles: some of them must observe the innovation process, others must analyze and interpret what happens in it, and finally, others make decisions in order to improve the innovation process.

In this article, the authors identify three innovation sub-processes which can be applied to autonomic cycles, which allow interoperating the actors of innovation processes (data, people, things and services). These autonomic cycles define an innovation problem, specify innovation requirements, and finally, evaluate the results of the innovation process, respectively. Finally, the authors instance/apply the autonomic cycle of data analysis tasks to determine the innovation problem in the textile industry.

It is necessary to implement all autonomous cycles of data analysis tasks (ACODATs) in a real scenario to verify their functionalities. Also, it is important to determine the most important knowledge models required in the ACODAT for the definition of the innovation problem. Once determined this, it is necessary to define the relevant everything mining techniques required for their implementations, such as service and process mining tasks.

ACODAT for the definition of the innovation problem is essential in a process innovation because it allows the organization to identify opportunities for improvement.

The main contributions of this work are: For an innovation process is specified its ACODATs in order to manage it. A multidimensional data model for the management of an innovation process is defined, which stores the required information of the organization and of the context. The ACODAT for the definition of the innovation problem is detailed and instanced in the textile industry. The Artificial Intelligence (AI) techniques required for the ACODAT for the innovation problem definition are specified, in order to obtain the knowledge models (prediction and diagnosis) for the management of the innovation process for MSMEs of the textile industry.