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This paper aims to explain the fundraising and valuation processes of startups and discuss the conflicts of interest between entrepreneurs, venture capital (VC) firms and stakeholders in the context of startup corporate governance. Further, this paper uses the examples of WeWork and Zenefits to explain how a failure of stakeholders to demand an external audit from an independent accounting firm in early stages of funding led to an opportunity for fraud.

The methodology used is a literature review and analysis of startup valuation combined with the Fraud Triangle Theory. This paper also provides a discussion of WeWork and Zenefits, both highly visible examples of startup fraud, and explores an increased role for independent external auditors in fraud risk mitigation on behalf of stakeholders prior to an initial public offering (IPO).

This paper documents a number of fraud risks posed by the “fake it till you make it” ethos and investor behavior and pricing in the world of entrepreneurial finance and VC, which could be mitigated by a greater awareness of startup stakeholders of the value of an external audit performed by an independent accounting firm prior to an IPO.

An implication of this paper is that regulators should consider greater oversight of the startup financing process and potentially take steps to facilitate greater independence of participants in the IPO process.

Given the potential conflicts of interest between VC firms, investment banks and startup founders, the investors at the time of an IPO may be exposed to the risk that the shares of the IPO firms are overvalued at offering.

This study demonstrates how startup practices can be extended to the Fraud Triangle and issue a call to action for the accounting profession to take a greater role in protecting the public from startup fraud. This study then offers recommendations for regulators and standards entities.

There are few academic papers in the financial crime literature that link the valuation and culture of startup firms with fraud risk. This study provides a concise explanation of the process of valuation for startups and highlights the considerations for stakeholders in assessing fraud risk. In addition, this study documents an emerging role for auditors as stewards of proper valuation for pre-IPO firms.

Service robots can offer benefits to consumers (e.g. convenience, flexibility, availability, efficiency) and service providers (e.g. cost savings), but a lack of trust hinders consumer adoption. To enhance trust, firms add human-like features to robots; yet, anthropomorphism theory is ambiguous about their appropriate implementation. This study therefore aims to investigate what is more effective for fostering trust: appearance features that are more human-like or social functioning features that are more human-like.

In an experimental field study, a humanoid service robot displayed gaze cues in the form of changing eye colour in one condition and static eye colour in the other. Thus, the robot was more human-like in its social functioning in one condition (displaying gaze cues, but not in the way that humans do) and more human-like in its appearance in the other (static eye colour, but no gaze cues). Self-reported data from 114 participants revealing their perceptions of trust, anthropomorphism, interaction comfort, enjoyment and intention to use were analysed using partial least squares path modelling.

Interaction comfort moderates the effect of gaze cues on anthropomorphism, insofar as gaze cues increase anthropomorphism when comfort is low and decrease it when comfort is high. Anthropomorphism drives trust, intention to use and enjoyment.

To extend human–robot interaction literature, the findings provide novel theoretical understanding of anthropomorphism directed towards humanoid robots.

By investigating which features influence trust, this study gives managers insights into reasons for selecting or optimizing humanoid robots for service interactions.

This study examines the difference between appearance and social functioning features as drivers of anthropomorphism and trust, which can benefit research on self-service technology adoption.

Social robots increasingly adopt service roles in the marketplace. While service research is beginning to unravel the implications for theory and practice, other scientific disciplines have amassed a wealth of empirical data of robots assuming such service roles. The purpose of this paper is to synthesize these findings from a role theory perspective with the aim of advancing role theory for human–robot service interaction (HRSI).

A systematic review of more than 10,000 articles revealed 149 empirical HRSI-related papers across scientific disciplines. The respective articles are analyzed employing qualitative content analysis through the lens of role theory.

This review develops an organizing structure of the HRSI literature across disciplines, delineates implications for role theory development in the age of social robots, and advances robotic role theory by providing an overarching framework and corresponding propositions. Finally, this review introduces avenues for future research.

This study pioneers a comprehensive review of empirical HRSI literature across disciplines adopting the lens of role theory. The study structures the body of HRSI literature, adapts traditional and derives novel propositions for role theory (i.e. robotic role theory), and delineates promising future research opportunities.

Technology-enabled business-to-business (B2B) services contribute the largest share to GDP growth and are fundamental for an economy’s value creation. This article aims to identify key service- and digital technology-driven B2B innovation modes and proposes a research agenda for further exploration.

This conceptual paper adopts a techno-demarcation view on service innovation, encompassing three core dimensions: service offering (the service product, or the “what”), service process (the “how”) and service ecosystem (the “who/for whom”). It delineates the implications of three digital technologies – the internet-of-things (IoT), intelligent automation (IA) and digital platforms – for service innovation across these core dimensions in B2B markets.

Digital technology has immense potential ramifications for value creation by reshaping all three core dimensions of service innovation. Specifically, IoT can transform physical resources into reconfigurable service products, IA can augment and automate a rapidly expanding array of service processes, while digital platforms provide the technical and organizational infrastructure for the integration of resources and stakeholders within service ecosystems.

This study suggests an agenda with six themes for further research, each linked to one or more of the three service innovation dimensions. They are (1) new recurring revenue models, (2) service innovation in the metaverse, (3) scaling up service innovations, (4) ecosystem innovations, (5) power dependency and lock-in effects and (6) security and responsibility in digital domains.

The study aims to take a step back and take the big picture of how digital capitalism is changing people's ways of living and production. On that basis, China should enhance its digital governance rationally and develop the digital economy efficiently, thereby bringing its socialist economy to new heights.

The rise of digital capitalism in the 1990s has profoundly changed the ways of consumption, employment, production organization and investment in the realm of capitalism.

Digital Capitalism has not changed the nature of capitalism, that is, exploitation and capital accumulation, which continue only in a more profound, extensive and covert way.

For the economy of socialist China to grow in the new era, China should tap into digital economy platforms, take a people-centered approach and let the people jointly develop the digital economy, share the fruits of development and participate in the governance of the digital economy. The government should leverage its modern digital governance and a high-quality digital economy to meet people's ever-growing demand for a better life.

This paper outlines the rapid rise of China's fintech companies over the past decade with a focus on their globalization strategies as they enter their next phase of development.

The author examines China's current and prospective influence on global financial digitization trends, and assesses both domestic and foreign opportunities and challenges confronted by China's fintech firms as they look to expand abroad.

The Chinese government is experimenting with a radically new fintech system and a regulatory regime in response to it. Chinese ambitions to expand fintech influence through private companies and the state-led “digital RMB” (e-CNY) will likely provoke a wave of “digital protectionism” among developed nations to protect internal digital payments.

This paper is an original economic history research on China's fintech industry.

Service robotics, a branch of robotics that entails the development of robots able to assist humans in their environment, is of growing interest in the hospitality industry. Designing effective autonomous service robots, however, requires an understanding of Human–Robot Interaction (HRI), a relatively young discipline dedicated to understanding, designing, and evaluating robotic systems for use by or with humans. HRI has not yet received sufficient attention in hospitality robotic design, much like Human–Computer Interaction (HCI) in property management system design in the 1980s. This article proposes a set of introductory HRI guidelines with implementation standards for autonomous hospitality service robots.

A set of key user-centered HRI guidelines for hospitality service robots were extracted from 52 research articles. These are organized into service performance categories to provide more context for their application in hospitality settings.

Based on an extensive literature review, this article presents some HRI guidelines that may drive higher levels of acceptance of service robots in customer-facing situations. Deriving meaningful HRI guidelines requires an understanding of how customers evaluate service interactions with humans in hospitality settings and to what degree those will differ with service robots.

Robots are challenging assumptions on how hospitality businesses operate. They are being increasingly deployed by hotels and restaurants to boost productivity and maintain service levels. Effective HRI guidelines incorporate user requirements and expectations in the design specifications. Compilation of such information for designers of hospitality service robots will offer a clearer roadmap for them to follow.

The purpose of this paper is to present an adaptation of a program that is at the intersection of two dynamic force fields. The first relates to imperatives impinging upon and inherent in higher education. The second ties to the concept of ecosystems as spaces for aligning actors and resources to create value.

Tables I-III present pre-test and post-test means and p-values for the paired sample t-tests for the measures.

As expected, post-test means are consistently significantly higher (or lower depending on item wording) for a shift in beliefs away from self-censoring and prejudging ideas during ideation and more toward greater openness in the ideation process.

The paper examines the outcome of an educational program.

A debate on whether new ventures should be supported with public funding is taking place. Adopting a position on this discussion requires rigorous assessments of implemented programs. However, the few existing efforts have mostly focused on regional cases in developed countries. To fill this gap, this paper aims to measure the effects of a regional acceleration program in a developing country (Medellin, Colombia).

The economic notion of capabilities is used to frame the analysis of firm characteristics and productivity, which are hypothesized to be heterogeneous within the program. To test these relationships, propensity score matching is used in a sample of 60 treatment and 16,994 control firms.

This paper finds that treated firms had higher revenue than propensity score-matched controls on average, confirming a positive impact on growth measures. However, such financial growth is mostly observed in service firms rather than other economic sectors.

Further evaluations, with a longer period and using more outcome variables, are suggested in the context of similar publicly funded programs in developing countries.

These findings tip the balance in favor of the literature suggesting supportive programs for high-growth firms as opposed to everyday entrepreneurship. This is an insight, especially under the context of an emerging economy, which has scarce funding to support entrepreneurship.

An AI concierge is a technologically advanced, intelligent and personalized assistant that is designated to an individual customer, proactively taking care of that customer’s needs throughout the service journey. This article envisions the idea of AI concierges and discusses how to leverage AI concierges in the customer journey.

This article takes a conceptual approach and draws insights from literature in service management, marketing, psychology, human-computer interaction and ethics.

This article delineates the fundamental forms of AI concierges: dialog interface (no embodiment), virtual avatar (embodiment in the virtual world), holographic projection (projection in the physical world) and tangible service robot (embodiment in the physical world). Key attributes of AI concierges are the ability to exhibit semantic understanding of auditory and visual inputs, maintain an emotional connection with the customer, demonstrate proactivity in refining the customer’s experience and ensure omnipresence through continuous availability in various forms to attend to service throughout the customer journey. Furthermore, the article explores the multifaceted roles that AI concierges can play across the pre-encounter, encounter and post-encounter stages of the customer journey and explores the opportunities and challenges associated with AI concierges.

This paper provides insights for professionals in hospitality, retail, travel, and healthcare on leveraging AI concierges to enhance the customer experience. By broadening AI concierge services, organizations can deliver personalized assistance and refined services across the entire customer journey.

This article is the first to introduce the concept of the AI concierge. It offers a novel perspective by defining AI concierges’ fundamental forms, key attributes and exploring their diverse roles in the customer journey. Additionally, it lays out a research agenda aimed at further advancing this domain.