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Article
Publication date: 14 May 2024

Roy Cerqueti, Catherine Deffains-Crapsky, Anna Grazia Quaranta and Saverio Storani

This paper aims to explore the determinants of the level of minibonds issued by companies. In doing so, it discusses the importance of minibonds in providing a market-based…

Abstract

Purpose

This paper aims to explore the determinants of the level of minibonds issued by companies. In doing so, it discusses the importance of minibonds in providing a market-based funding source. In the empirical analysis, special attention is paid to the study of the recovery from the COVID-19 crisis.

Design/methodology/approach

The analysis is carried out through an econometric approach, on the basis of a high-quality empirical dataset related to the Italian small- and medium-sized enterprises (SMEs). The reference period covers the recent pandemic. From a theoretical point of view, a regression model is implemented, including a multicollinearity analysis and an outlier detection procedure.

Findings

The results of the study indicate that factors such as leverage, cash flow, firm collaterals and seniority can explain the amount of minibonds issued. These findings provide valuable insights into the drivers of minibond issuance and highlight the potential benefits of minibonds as a funding option for Italian SMEs.

Practical implications

Importantly, results highlight relevant managerial implications at two levels. On one side, we carry on a managerial discussion about the worthiness of accessing the minibonds market; on the other side, we give insights on the managerial implications related to the features of the companies issuing minibonds.

Originality/value

The paper investigates an innovative financial instrument that has been introduced recently and has not yet been studied in depth. To the best of our knowledge, this is the first contribution assessing the main drivers for minibonds issuance level, which is a timely and relevant managerial research topic. In addition, this study also takes into account the impact of the COVID-19 pandemic on minibond issuance, making the analysis appropriate for explaining the current economic context.

Details

Management Decision, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 4 March 2024

Zeyu Xing, Tachia Chin, Jing Huang, Mirko Perano and Valerio Temperini

The ongoing paradigm shift in the energy sector holds paramount implications for the realization of the sustainable development goals, encompassing critical domains such as…

Abstract

Purpose

The ongoing paradigm shift in the energy sector holds paramount implications for the realization of the sustainable development goals, encompassing critical domains such as resource optimization, environmental stewardship and workforce opportunities. Concurrently, this transformative trajectory within the power sector possesses a dual-edged nature; it may ameliorate certain challenges while accentuating others. In light of the burgeoning research stream on open innovation, this study aims to examine the intricate dynamics of knowledge-based industry-university-research networking, with an overarching objective to elucidate and calibrate the equilibrium of ambidextrous innovation within power systems.

Design/methodology/approach

The authors scrutinize the role of different innovation organizations in three innovation models: ambidextrous, exploitative and exploratory, and use a multiobjective decision analysis method-entropy weight TOPSIS. The research was conducted within the sphere of the power industry, and the authors mined data from the widely used PatSnap database.

Findings

Results show that the breadth of knowledge search and the strength of an organization’s direct relationships are crucial for ambidextrous innovation, with research institutions having the highest impact. In contrast, for exploitative innovation, depth of knowledge search, the number of R&D patents and the number of innovative products are paramount, with universities playing the most significant role. For exploratory innovation, the depth of knowledge search and the quality of two-mode network relations are vital, with research institutions yielding the best effect. Regional analysis reveals Beijing as the primary hub for ambidextrous and exploratory innovation organizations, while Jiangsu leads for exploitative innovation.

Practical implications

The study offers valuable implications to cope with the dynamic state of ambidextrous innovation performance of the entire power system. In light of the findings, the dynamic state of ambidextrous innovation performance within the power system can be adeptly managed. By emphasizing a balance between exploratory and exploitative strategies, stakeholders are better positioned to respond to evolving challenges and opportunities. Thus, the study offers pivotal guidance to ensure sustained adaptability and growth in the power sector’s innovation landscape.

Originality/value

The primary originality is to extend and refine the theoretical understanding of ambidextrous innovation within power systems. By integrating several theoretical frameworks, including social network theory, knowledge-based theory and resource-based theory, the authors enrich the theoretical landscape of power system ambidextrous innovation. Also, this inclusive examination of two-mode network structures, including the interplay between knowledge and cooperation networks, unveils the intricate interdependencies between these networks and the ambidextrous innovation of power systems. This approach significantly widens the theoretical parameters of innovation network research.

Details

Journal of Knowledge Management, vol. 28 no. 5
Type: Research Article
ISSN: 1367-3270

Keywords

Abstract

Details

Understanding Financial Risk Management, Third Edition
Type: Book
ISBN: 978-1-83753-253-7

Open Access
Article
Publication date: 20 May 2024

Sharneet Singh Jagirdar and Pradeep Kumar Gupta

The present study reviews the literature on the history and evolution of investment strategies in the stock market for the period from 1900 to 2022. Conflicts and relationships…

Abstract

Purpose

The present study reviews the literature on the history and evolution of investment strategies in the stock market for the period from 1900 to 2022. Conflicts and relationships arising from such diverse seminal studies have been identified to address the research gaps.

Design/methodology/approach

The studies for this review were identified and screened from electronic databases to compile a comprehensive list of 200 relevant studies for inclusion in this review and summarized for the cognizance of researchers.

Findings

The study finds a coherence to complex theoretical documentation of more than a century of evolution on investment strategy in stock markets, capturing the characteristics of time with a chronological study of events.

Research limitations/implications

There were complications in locating unpublished studies leading to biases like publication bias, the reluctance of editors to publish studies, which do not reveal statistically significant differences, and English language bias.

Practical implications

Practitioners can refine investment strategies by incorporating behavioral finance insights and recognizing the influence of psychological biases. Strategies span value, growth, contrarian, or momentum indicators. Mitigating overconfidence bias supports effective risk management. Social media sentiment analysis facilitates real-time decision-making. Adapting to evolving market liquidity curbs volatility risks. Identifying biases guides investor education initiatives.

Originality/value

This paper is an original attempt to pictorially depict the seminal works in stock market investment strategies of more than a hundred years.

Details

China Accounting and Finance Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1029-807X

Keywords

Abstract

Details

Understanding Financial Risk Management, Third Edition
Type: Book
ISBN: 978-1-83753-253-7

Article
Publication date: 12 April 2024

Zhen Li, Jianqing Han, Mingrui Zhao, Yongbo Zhang, Yanzhe Wang, Cong Zhang and Lin Chang

This study aims to design and validate a theoretical model for capacitive imaging (CI) sensors that incorporates the interelectrode shielding and surrounding shielding electrodes…

Abstract

Purpose

This study aims to design and validate a theoretical model for capacitive imaging (CI) sensors that incorporates the interelectrode shielding and surrounding shielding electrodes. Through experimental verification, the effectiveness of the theoretical model in evaluating CI sensors equipped with shielding electrodes has been demonstrated.

Design/methodology/approach

The study begins by incorporating the interelectrode shielding and surrounding shielding electrodes of CI sensors into the theoretical model. A method for deriving the semianalytical model is proposed, using the renormalization group method and physical model. Based on random geometric parameters of CI sensors, capacitance values are calculated using both simulation models and theoretical models. Three different types of CI sensors with varying geometric parameters are designed and manufactured for experimental testing.

Findings

The study’s results indicate that the errors of the semianalytical model for the CI sensor are predominantly below 5%, with all errors falling below 10%. This suggests that the semianalytical model, derived using the renormalization group method, effectively evaluates CI sensors equipped with shielding electrodes. The experimental results demonstrate the efficacy of the theoretical model in accurately predicting the capacitance values of the CI sensors.

Originality/value

The theoretical model of CI sensors is described by incorporating the interelectrode shielding and surrounding shielding electrodes into the model. This comprehensive approach allows for a more accurate evaluation of the detecting capability of CI sensors, as well as optimization of their performance.

Details

Sensor Review, vol. 44 no. 3
Type: Research Article
ISSN: 0260-2288

Keywords

Open Access
Article
Publication date: 19 December 2023

Ruxin Zhang, Jun Lin, Suicheng Li and Ying Cai

This study aims to explore how to overcome and address the loss of exploratory innovation, thereby achieving greater success in exploratory innovation. This phenomenon of loss…

1170

Abstract

Purpose

This study aims to explore how to overcome and address the loss of exploratory innovation, thereby achieving greater success in exploratory innovation. This phenomenon of loss occurs when enterprises decrease their investment in and engagement with exploratory innovation, ultimately leading to an insufficient amount of such innovation efforts. Drawing on dynamic capabilities, this study investigates the relationship between organizational foresight and exploratory innovation and examines the moderating role of breakthrough orientation/financial orientation.

Design/methodology/approach

This study used survey data collected from 296 Chinese high-tech companies in multiple industries and sectors.

Findings

The evidence produced by this study reveals that three elements of organizational foresight (i.e. environmental scanning capabilities, strategic selection capabilities and integrating capabilities) positively influence exploratory innovation. Furthermore, this positive effect is strengthened in the context of a high-breakthrough orientation. Moreover, the relationships among environmental scanning capabilities, strategic selection capabilities and exploratory innovation become weaker as an enterprise’s financial orientation increases, whereas a strong financial orientation does not affect the relationship between integrating capabilities and exploratory innovation.

Research limitations/implications

Ambidexterity is key to successful enterprise innovation. Compared with exploitative innovation, it is by no means easy to engage in exploratory innovation, which is especially important in high-tech companies. While the loss of exploratory innovation has been observed, few empirical studies have explored ways to promote exploratory innovation more effectively. A key research implication of this study pertains to the role of organizational foresight in the improvement of exploratory innovation in the context of high-tech companies.

Originality/value

This paper contributes to the broader literature on exploratory innovation and organizational foresight and provides practical guidance for high-tech companies regarding ways of avoiding the loss of exploratory innovation and becoming more successful at exploratory innovation.

Details

Journal of Business & Industrial Marketing, vol. 39 no. 13
Type: Research Article
ISSN: 0885-8624

Keywords

Article
Publication date: 22 January 2024

Yanqing Wang

The existing literature offers various perspectives on integrating cryptocurrencies into investment portfolios; yet, there is a gap in understanding the behaviours, attitudes and…

Abstract

Purpose

The existing literature offers various perspectives on integrating cryptocurrencies into investment portfolios; yet, there is a gap in understanding the behaviours, attitudes and cross-investment links of individual investors. This study, grounded in the modern portfolio theory and the random walk theory, aims to add empirical insights that are specific to the UK context. It explores four hypotheses related to the influence of socio-demographics, digital adoption, cross-investment behaviours and financial attitudes on cryptocurrency owners.

Design/methodology/approach

This study uses a logistic regression model with secondary data from the Financial Lives Survey 2020 to assess the factors impacting cryptocurrency ownership. A total of 29 variables are used, categorized into four groups aligned with the hypotheses. Additionally, hierarchical clustering analysis was conducted to further explore the cross-investment links.

Findings

The study reveals a significant lack of diversification among UK cryptocurrency investors, a pronounced inclination towards high-risk investments such as peer-to-peer lending and crowdfunding, and parallels with gambling behaviours, including financial dissatisfaction and a propensity for risk-taking. It highlights the influence of demographic traits, risk tolerance, technological literacy and emotional attitudes on cryptocurrency investment decisions.

Originality/value

This study provides valuable insights into cryptocurrency regulation and retail investor protection, underscoring the necessity for tailored financial education and a holistic regulatory approach for investment products with comparable risk levels, with the aim of minimizing regulatory arbitrage. It significantly enhances our understanding of the unique dynamics of cryptocurrency investments within the evolving financial landscape.

Details

Journal of Financial Regulation and Compliance, vol. 32 no. 2
Type: Research Article
ISSN: 1358-1988

Keywords

Article
Publication date: 14 May 2024

Arpita Ghosh and Shamima Haque

The study aims to conduct an empirical research to examine how green human resource management (GHRM) can influence sustainable organizational performance (SOP) in terms of…

Abstract

Purpose

The study aims to conduct an empirical research to examine how green human resource management (GHRM) can influence sustainable organizational performance (SOP) in terms of financial performance (FP) and operational performance (OpP), both directly and through employee green behavior (EGB), in the backdrop of the Indian information and communication technology (ICT) sector.

Design/methodology/approach

The study is based on primary data collected through a questionnaire survey from 387 employees engaged in the ICT sector. Confirmatory factor analysis validates the measurement model, while structural equation modeling (SEM) using the partial least squares (PLS) method examines the hypothesized relations.

Findings

Results confirm that GHRM significantly contributes to EGB, FP and OpP, with a theoretical underpinning concerning resource-based view (RBV) and ability-motivation-opportunity (AMO) concepts. The study also confirms that connections of GHRM with both FP and OpP are significantly and positively mediated by EGB.

Practical implications

The study provides evidence-based implications of different GHRM practices toward EGB, FP and OpP, which are highly pertinent to strategists, policymakers, managers and supervisors in implementing GHRM for adding value to both operational and financial statements while protecting nature and natural resources through the green efforts of employees.

Originality/value

The study bridges a significant theoretical and practitioner gap by providing a deeper understanding of GHRM as a sustainable human resource management (HRM) model in the context of the Indian ICT sector. It empirically explores the connections between GHRM and OpP, which is a crucial dimension of SOP, and highlights noteworthy implications for promoting EGB, an individual micro-sustainability dimension directed toward the achievement of broader organizational goals, which are essentially oriented to macro-sustainability.

Details

Journal of Organizational Effectiveness: People and Performance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2051-6614

Keywords

Article
Publication date: 17 March 2023

Qi Sun, Yaya Gao, Qihui Lu and Yingyi Yan

Different external supply scenarios faced by the retailers will affect their choice of strategy when supply is disrupted and becomes far less than demand, urgently. This study…

Abstract

Purpose

Different external supply scenarios faced by the retailers will affect their choice of strategy when supply is disrupted and becomes far less than demand, urgently. This study focuses on analyzing both demand and supply side response strategies to meet customer demand and reduce the impact of the shortage during supply disruptions.

Design/methodology/approach

According to the quantity of products that the external market can provide, the external supply scenarios were divided into sufficient-type external supply and learning-type external supply. A two-echelon perishable goods supply chain was analyzed, and three kinds of contingency strategy models for downstream retailers were investigated. First, in the sufficient external supply scenario, the optimal price and transshipment quantity to maximize retailer's profits is discussed. Second, in the scenario of learning-type external supply, this study analyzes the optimal decision in three mechanisms of the hybrid strategy and their application: price priority mechanism, quantity priority mechanism and price–quantity balance mechanism. Furthermore, the influence of penalty cost and supply on the priority orders of different mechanisms was studied.

Findings

Results show that comparing the two pure strategies (pricing strategy and transshipment strategy)it was noted that the hybrid strategy produces the best results in sufficient-type external supply scenario. In the learning-type external supply scenario, a numerical study has shown the existence of three areas in case of penalty cost and supplier's capacity, and each areas has different priority orders of the three mechanisms. Under the situation of learning external supply, the retailer's optimal strategy is affected by parameters such as penalty cost and supply volume.

Originality/value

The main innovation of the work lies in the following: First; the external supply situation was divided into sufficiency type and learning type, which improves the external situation faced by retailers after the outbreak of emergencies, helps retailers understand the external situation, conforms to the actual situation and has certain practical application value. Second; in the context of learning external supply, there are three coping strategies for retailers, including: Price priority mechanism, Quantity priority mechanism and Pricing and transshipment balance mechanism. This will help retailers make strategic choices, make more scientific management decisions and improve the supply chain emergency management theory. Third; the demand side response was managed through the change of external supply during supply side recovery period and supply disruption. The proposed model enables managing and analyzing supply disruption efficiently and effectively via handling uncertainty by considering all aspects of decision-making process. The proposed model can be applied in various fields such as vegetable and fruit, fresh food, etc.

Details

Kybernetes, vol. 53 no. 6
Type: Research Article
ISSN: 0368-492X

Keywords

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