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This paper aims to introduce a heteroskedastic hidden truncation normal (HTN) model that allows for conditional volatilities, skewness and kurtosis, which evolve over time and are linked to economic dynamics and have economic interpretations.

The model consists of the HTN distribution introduced by Arnold et al. (1993) coupled with the NGARCH type (Engle and Ng, 1993). The HTN distribution nests two well-known distributions: the skew-normal family (Azzalini, 1985) and the normal distributions. The HTN family of distributions depends on a hidden truncation and has four parameters having economic interpretations in terms of conditional volatilities, kurtosis and correlations between the observed variable and the hidden truncated variable.

The model parameters are estimated using the maximum likelihood estimator. An empirical application to market data indicates the HTN-NGARCH model captures stylized facts manifested in financial market data, specifically volatility clustering, leverage effect, conditional skewness and kurtosis. The authors also compare the performance of the HTN-NGARCH model to the mixed normal (MN) heteroskedastic MN-NGARCH model.

The paper presents a structure dynamic, allowing us to explore the volatility spillover between the observed and the hidden truncated variable. The conditional volatilities and skewness have the ability at modeling persistence in volatilities and the leverage effects as well as conditional kurtosis of the S&P 500 index.

Sustainability transformation in the construction industry is vital for the attainment of sustainable development goals. While conventional construction has been at the expense of social and economic sustainability, sustainable construction can enhance environmental, social and economic outcomes for the construction industry and society at large. However, the industry struggles with new initiates because its stakeholders are products of unique institutions which shape their decisions and intentions to adopt new practices. This study assessed the institutional pressures that influence the adoption of sustainable construction to enhance our understanding of other factors that can promote and accelerate the adoption of sustainable construction.

The study adopted a quantitative research design with the use of online questionnaires to elicit information from construction professionals in South Africa. Descriptive statistics of frequencies, mean and standard deviation were used to analyse the data obtained from the survey. Linear regression was also used to assess the influence of institutional pressures on the adoption of sustainable construction.

Mimetic pressures were found to have a significant influence on the adoption of sustainable construction. The decision to adopt sustainable construction was based on the sustainability actions of industry leaders (mimetic pressure). Normative and coercive pressures had no significant influence on the adoption of sustainable construction.

Mimetic pressure from competitors and normative pressures is already exerting some pressure on stakeholders to adopt sustainable construction. However, there cannot be a long-term commitment that will yield the needed sustainability transformations without additional normative pressure from learned societies and coercive pressure from the government. As one of the pioneering works from the global south, this study provides empirical validations of the influence of institutional pressures on the adoption of sustainable construction. It also enhances understanding of how institutional pressures from the social context can promote and accelerate the adoption of sustainable construction.

The findings present one of the pioneering efforts to empirically validate the influence of institutional pressures on the adoption of sustainable construction.

This study aims to identify the role of consumer characteristics in cultural consumption tendencies. Additionally, the study examines whether country differences and prior experience in the country affect consumers' cultural consumption tendencies.

The effects of cosmopolitanism, consumer ethnocentrism, individual innovativeness, and lifestyle on cultural consumption tendencies were tested. Moreover, we assess whether country type and prior experience are differentiating factors for cultural consumption tendencies. To this end, two countries – the USA and South Korea, representing Western and Eastern cultures, respectively – were selected to achieve comparable results in two different cultures. The research data were collected from 775 people using an online survey method and analyzed using path analysis and an independent samples t-test.

Consumer characteristics affect cultural consumption tendencies. These effects are culture-specific and cultural product-specific. Cosmopolitanism has a positive impact on cultural consumption tendencies, while consumer ethnocentrism has a negative impact. Individual innovativeness and lifestyle partially affected cultural consumption tendencies. Notably, these effects differ by country type. However, cultural consumption tendencies do not differ according to consumers' prior experience.

This study provides insightful information for e-retailers to be mindful of global consumer characteristics. Accordingly, cultural consumption patterns can be used as the basis for market segmentation. In addition, understanding global consumer characteristics and their cultural product- and culture-specific effects on consumption will help cultural industry players in their segmentation and targeting decisions.

Notwithstanding the rich body of literature on cultural consumption, this study provides consumer-level comparative empirical research from a marketing perspective. Essentially, the study is novel as it reveals the consumer characteristics that affect cultural consumption tendencies.

The COVID-19 pandemic has led to major sales strategy and process changes as many interactions migrated from face-to-face to virtual environments. The nature of the interactions changed, and sales firms, the sales function and salespeople created new processes to excel in virtual environments. As sales processes evolve further, this paper aims to focus on understanding the enduring shifts in sales strategy and processes. In addition, this study seeks to understand the characteristics of enduring shifts and how they are distinct from temporary shifts.

This qualitative analysis provides a comprehensive overview of the sales organizations and salespeople over the period from the start of the pandemic to early 2022. The authors interviewed 66 sales professionals from different countries and industries to better understand the temporary and enduring shifts in sales strategy and processes, adopting ad inductive and narrative approach.

There are four major findings. First, four key themes emerged: increased digitalization, resistance to digitalization, sales process changes and sales organization transformation. Second, changes are classified as temporary, permanent and accelerated changes. Third, some proposed changes were not supported. Finally, five findings were found that were not discussed in previous literature.

This paper finds distinctive findings that offer additional valuable insights that connect to and extend existing literature. These include emerging themes, classification shifts, unsupported proposed changes and unique findings.

As a result of both shifting social concerns and stricter legislation, many companies are seeking innovative and sustainable solutions for both primary and secondary packaging. The craft beer industry has made the most notable advancements with a variety of alternatives to the traditional secondary packaging (e.g. plastic rings) used to link beer cans. Yet, despite the impact packaging has on consumer purchase behavior and the environment, secondary packaging has received far less attention in the literature. This study aims to understand consumer perceptions of craft beer secondary packaging on consumers’ willingness to buy via the underlying mechanisms of perceived packaging innovation and sustainability.

A single-factor between-subjects experiment with four conditions (secondary packaging format: Pak-Tech holder, Keel Clip holder, Glue-Pack holder, Biodegradable holder) was conducted with 354 participants to test the hypothesized serial mediation model.

The results demonstrate that none of the secondary packaging styles had a direct effect on willingness to buy, meaning that the package style alone does not influence a consumer’s purchase decisions. Critically, the results also revealed indirect effects; specifically, the Keel Clip and Glue-Pack six-pack can holders were perceived as more innovative than the Pak-Tech holder, which in turn positively influenced perceptions of packaging sustainability and subsequent willingness to buy.

The authors’ results extend the research on sustainable secondary packaging and aids craft breweries along with other beverage producers in making informed decisions as the push for sustainable packaging becomes more prominent.

This investigation serves a dual purpose: providing preliminary results and serving as a pilot study to confirm the viability of the hypotheses advanced towards a full-scale study. This paper aims to present the preliminary findings of an investigation that explored the constructs of personality traits and situational crime prevention theory (SCPT) as antecedents to social cognitive determinants (attitude, perceived behavioural control and subjective norms using the theory of planned behaviour [TPB] framing) and how these elements subsequently estimate compliant information security behaviour. Moreover, this paper delves into the contrasting influences of light and dark personality traits on insider information security compliance.

A cross-sectional survey was conducted to study SCPT measures and the personality factors dyad using a diverse but limited sample (n = 82).

There were ten significant direct relationships between SCPT factors and personality traits related to the components of the TPB. Seventeen hypotheses were not supported. However, these findings highlight the complexity of the topic under study.

Understanding individual differences within the compliance model could be used for custom training protocols, employee selection, assignment and specific types of information security interventions.

There is a scarcity of studies considering the effects of situational and personality factors, specifically the dark versus light triad of personality traits within the information security domain. Therefore, this preliminary result provides early insight that could guide further studies. This research could have important implications for organisations at risk of insider attacks.

Taiwan’s hotel industry was adversely impacted by the COVID-19 pandemic. This study aims to examine the effect of strategic choices by Taiwanese international tourist hotels before and during the pandemic environments.

A data envelopment analysis (DEA)-based Malmquist methodology is used in this study to provide a mechanism to assess Taiwanese hotel strategy performance. Changes in the productivity and performance of Taiwanese international tourist hotels were analyzed in the periods before and during the pandemic to uncover insights useful should a similar crisis occur in the future. Panel data were obtained from the annual report of international tourist hotels published by the Taiwan Tourism Bureau from 2017–2020. Two groups of hotels were analyzed in this study: city hotels and scenic hotels.

The findings of this study reveal that chain hotels tended to perform better than independent hotels in both city and scenic areas during the global pandemic. Specifically, the crisis caused a substantial decline in productivity and profitability for international tourist hotels in Taipei City during the COVID-19 period. Compared to city hotels, findings also indicate that most international tourist hotels in scenic areas were able to maintain better productivity, including larger-sized scenic hotels.

The DEA-based analysis provides unique and valuable insights for hotel firm leaders on how to better identify and make strategic choices when responding to future crises.

The COVID pandemic has prompted B2B and industrial marketing scholars to understand more about how external disruptions impact parties involved in B2B transactions. This paper aims to adopt an ecosystem perspective to conceptually classify the interactions between actors involved in B2B ecosystems.

This conceptual paper presents a framework across multiple levels of ecosystem interactions (at micro, meso and macrolevels) to illustrate how value cocreation and knowledge flows (as mechanisms underlying B2B relationships) are related to firm performance.

Based on this framework, this paper offers propositions and several research questions about the effects of disruptions and how they propagate among these essential business ecosystem elements.

This conceptual framework underscores the vital role of relationships and interactions in shaping B2B ecosystems, especially during disruptive periods. With a greater understanding of how these interactions operate across levels (micro, meso and macro), scholars and practitioners may be better able to navigate disruptive periods.

Organizations deal with digital technologies to achieve their strategic goals. The shift toward digitization is a major challenge because it requires companies to create a digital outlook that influences organizational design. As a result, investigation of institutional theory and entrepreneurial orientation theory in the European food industry has become the focus of research in recent times.

To this end, data were collected from 83 companies related to the food industry in the European context. By applying a hybrid phase of the partial least squares structural equation modeling (PLS-SEM) and artificial neural network (ANN) methods, this study captured the causal–non-linear relationships among the study constructs.

The findings revealed that the variables of institutional theory and entrepreneurial orientation theory affect the adoption of the digital strategy. There is also a dual interaction role for e-business capabilities and digital transformation. The results of non-linear relationships confirmed that digital strategy adoption is highly influenced by digital transformation, followed by risk-taking, digital leadership, e-business capabilities, organizational agility, proactiveness and innovativeness.

The authors provided significant implications for practitioners and academics about the most influential determinants of digital strategy – businesses must move swiftly toward digitization across its various units to achieve their objectives. An organization’s leadership must realize that equipping the employees with necessary skills is the first step toward digitalization.

The current study underscores the digital strategy, which is usually an overlooked area of investigation, in the food industry. The study identifies some important predictors of digital strategy adoption with the interaction’s role of digital transformation and e-business capabilities. Such relationships have been rarely discussed. In addition, the adoption of a hybrid SEM-AAN approach makes the study an original one.

Small and medium-sized enterprises (SMEs) use networks to overcome knowledge deficiencies in pursuing innovation. However, balancing the cost and risk of growing networks, especially internationally, with potential gains in knowledge remains a critical challenge. Searching for innovation knowledge in international and domestic networks can be complementary when learning is compressed or as competing when the SMEs capacity to use the new knowledge is exceeded. This paper aims to investigate whether knowledge searches in domestic and international networks are complementary or conflicting in pursuit of innovation.

This study is based on firm-level data set comprising 426 SMEs located in New Zealand, an advanced small and open economy. Using multi-level modelling, this study tests competing hypotheses, asking whether domestic and international network searches are complements or substitutes when seeking ambidexterity.

The research finds that, in contrast to earlier research, which shows increasing network breadth drives innovation activity, SMEs benefit less from knowledge search across combined domestic and international networks for exploration innovation and ambidexterity. In contrast, exploitation shows no effect, suggesting that combined networks could support exploitation.

This paper highlights how SMEs mitigate the influence resource constraints have on the partnerships they form and how this translates to ambidexterity. Specifically, recognising that an opportunistic approach to network development may impose future constraints on SME ambidexterity. From a management perspective, the paper recognises that balancing knowledge search across domestic and international networks can facilitate ambidexterity; however, to prevent spreading resources too thinly, this likely requires exit from early domestic innovation network partnerships.