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Several studies have examined the relationship between spin-off announcements and stock performance. However, a comparison of the announcement effect of different schemes of spin-offs remains relatively underexplored in the literature. This study aims to find the differential impact of pure scheme and composite schemes of spin-offs on parent company stock performance. A pure scheme includes only the separation of business into independent companies, while a composite scheme includes a simultaneous merger of one of the companies with another company along with separation.

A total of 109 pure and 51 composite spin-off announcements made by Indian listed companies from 2010 to 2023 are examined using event study methodology. The cross-sectional t-test is used to measure the significance of abnormal returns. The t-test for two sample means (right-tailed) is incorporated to test the significance of variations in the stock returns of pure and composite schemes of spin-off announcements. Cross-sectional regression is also done to evaluate the impact of the type of scheme on the spin-off return.

The study found a cumulative average abnormal return of −1.06% for the pure spin-off and 8.27% for the composite spin-off over a 41-day event window. The univariate analysis revealed that the composite scheme generates a significantly higher cumulative average abnormal return than the pure scheme. Regression analysis also confirmed that the composite scheme significantly positively impacts the stock return. It can be concluded that investors favour the composite scheme, expecting that it will deliver a better strategic fit and generate synergy.

This paper makes a valuable contribution to the existing literature on corporate spin-offs. The study by analysing and comparing how the spin-off and merger combination differently affects the stock performance, helps the investor who wants to capitalize on the market imperfections and the managers to make complex business decisions.

This study aims to analyze the effectiveness of the spin-off policy which includes clarity of objectives and criteria, implementation and monitoring and evaluation functions.

The method used is a qualitative method with a theme approach and the analytical hierarchy process (AHP). Data were obtained from the results of focus group discussions and AHP questionnaires with informants from Indonesian Sharia Insurance Association (AASI), the sharia life and general insurance industry, the Sharia Supervisory Board, the government and regulators.

The results of the research are the effectiveness of the clarity of goals and criteria has not been realized optimally, the effectiveness of increasing profitability has not been realized, and the effectiveness of the monitoring and evaluation functions by the government and regulators has been realized. The supporting factor that has the highest level of importance is the role of the government and regulator.

The limitation of this research is that it has not used a wider range of profitability test tools and projections. The theoretical implication of this research is as a reference for robust research in identifying spin-off success factors because this study uses a mixed method where qualitative methods are used in the study using data from theory and expert informants from three parties: regulatory parties, associations (AASI) and the insurance company (life insurance and general insurance). These results form the basis for compiling a questionnaire with a quantitative method so that the data is become relevant based on theory (design) and practical side.

Practical implication of the study is that the Islamic insurance industry has to prepare to achieve condition of Tabarru funds and the investment reaches 50% of the main insurance fund. AASI, as the sharia insurance industry organization, continues innovating the most suitable form of spin-off that can be achieved by the Sharia business unit and also continues to coordinate with regulators to discuss existing problems. The government and regulators also support the implementation of the spin-off by providing convenience in various aspects such as spin-off period relaxation and government incentive and relaxation to enhance sharia insurance industry.

The contribution of the results of this research for the government and regulatory agencies is as input in setting policies and regulations related to spin-offs, for the industry is expected to be more prepared in terms of resources, commitment and strategy.

In many parts of the world, labor shortages are likely to affect the activities of SMEs. Consequently, SMEs needs to adopt attractive HRM practices. This study analyzes the impact of one type of sustainable HRM (SD-HRM) on employees’ attraction and retention factors such as employees’ motivation, the quality of image and customer satisfaction in SMEs context. It also looks at the impact of SME managers’ value-intentions, calculative (egoist-strategic) and non-calculative (altruist-institutional) on this relationship.

Drawing on part of a survey of 409 Quebec SME managers’ commitment to sustainability, a mediation model is used to consider the impact of the manager’s values-intentions on potential workforce attraction and retention factors.

The results show that the implementation of SD-HRM practices has a positive impact on the outcomes considered, as it was expected, but show the counterintuitive results that it is altruistic values (non-calculative), rather than egoistic values, that helps to maximize the desired effects.

SME managers could adopt SRHRM practices to attract and retain employees. To maximize positive impacts, they might strategically integrate this approach while remaining authentic to their altruistic values. Purely institutional intentions are insufficient. By being both personally committed and strategic, managers can improve both employee well-being and organizational performance.

The original aspect of this research is the integration of expectations of spin-offs (positive or neutral) in relation to SD-HRM, based on the values and intentions of SME managers. This allows to recognize the multiple profiles, justifications and objectives of SMEs, which do not form a monolithic whole and need to be understood and supported by considering their differences.

The purpose of this study is to investigate university–industry partnerships in Armenia from the viewpoint of universities. By doing so, it contributes to the existing literature on university–industry collaboration by identifying and addressing the specific challenges that impede the establishment of successful university–industry partnerships in Armenia and other post-Soviet countries.

A comprehensive literature review was conducted to examine the barriers, benefits and institutional, functional framework of collaboration. Additionally, this study used a survey methodology to gather data from faculty managing staff members at six Armenian higher educational institutions on various aspects of university–industry collaboration as well as the perceptions and experiences of the participants.

The results show that the effectiveness and applicability of the university–industry collaboration channels and institutional structures in six higher educational institutions are limited. Specifically, the channels that rely on academic entrepreneurship and innovation were found to be currently unviable. Moreover, the existence of spin-offs and start-ups is notably absent. Furthermore, limited access to funding and inadequate entrepreneurial support systems pose significant barriers to developing university–industry partnerships in Armenian reality.

This study represents a pioneering effort within the context of Armenian higher educational institutions, as it is the first time a survey has been organized to specifically investigate the topic of university–industry partnerships. Before this study, there was a lack of empirical research and data collection on this topic in Armenian higher education settings. Therefore, this research holds significant originality and contributes to filling the existing gap in knowledge regarding university–industry partnerships in Armenia. The research is shedding light on a previously unexplored area and providing a valuable contribution to the field of university–industry collaboration research in Armenia and other post-Soviet countries.

Managing resources is crucial for firms to gain competitive advantages and succeed, particularly for startups with limited resources. It is important to understand how digital startups in general and digital academic spin-offs (ASOs) in particular may orchestrate their resources to optimize value. This paper integrates the resource-based perspective with digital entrepreneurship to analyze the resource configurations leading to success of digital ASOs.

The paper adopts an inductive approach and applies qualitative comparative analysis (QCA) on a longitudinal dataset of digital ASOs to identify the resource configurations for a successful outcome.

The authors' paper identifies two main paths to success among digital ASOs, consisting of five distinct resource configurations. The first path is termed “market exploiters” that operate in favorable market conditions where specific technological resources and research collaboration resources are lacking. The second path involves “technology explorers” that combines both technological and commercial resources to achieve success.

By outlining distinct pathways to the success of digital ASOs, this paper contributes to the digital academic entrepreneurship literature and the resource-based view of entrepreneurial firms. The paper also suggests implications for policymakers and managers in managing resources for the success of digital ventures.

By exploring the resource configurations leading to the success of ASOs commercializing digital technologies, the paper shows that favorable market conditions and complementary resource configurations can be alternative pathways to success.

This study aims to analyze the phenomenon of entrepreneurial spawning in the new context of software startups, revisiting theory and identifying patterns within the emergence of startups/spin-offs in Brazil.

A study of two cases of startups recognized for generating several spin-offs founded by former employees. The authors based the data collection on the following triangulation: 11 in-depth interviews, systematic analysis of 33 resumes from entrepreneurs in spawned firms and document analysis.

Six skills developed in startups were identified: (1) structuring a company, (2) people management, (3) strategic/operational planning, (4) commercial/sales, (5) product development, and (6) behavioral traits. In addition, points of contradiction concerning the literature were found, such as the absence of the location effect, different professional experiences and new local agents to support startups.

The present study covers only two cases in the context of software startups, which requires caution and discretion in extrapolating to other contexts.

The understanding of the phenomenon may reflect in: university programs focused on internships in startups, corporate training programs for entrepreneurs and the design of public policies based on entrepreneurial spawning.

The present study stands out for its access to data from high-impact startups in Brazil, in addition to revisiting the literature bringing a new perspective to the specificities of high-growth software companies.

This study aimed to analyze the strategies and challenges related to technology transfer (TT) in technology transfer offices (TTOs), specifically regarding actions to offer technologies in their portfolios.

The qualitative research used a multiple case study based on interviews with TTO managers from seven Brazilian public Science and Technology Institutions (STIs): University of São Paulo (USP), State University of Campinas (UNICAMP), Paulista State University (UNESP), Federal University of Minas Gerais (UFMG), Federal University of Paraná (UFPR), Federal Technological University of Paraná (UTFPR) and Oswaldo Cruz Foundation (FIOCRUZ).

STIs that invest more resources in their portfolio’s active offering and marketing are more successful in TT than STIs with a passive strategy. Although this active strategy has grown in importance, there is a disparity among Brazilian TTOs as some are still passive in commercializing their intellectual property. This research also highlights the need for clear policies to overcome obstacles related to legal uncertainty for researchers who wish to undertake projects as entrepreneurs using the intellectual property of STIs.

The results of this study cannot be generalized since its conclusions are limited to the studied institutions. However, the outcomes indicate some interesting matters for managers of STIs, public policymakers and TT researchers.

Literature on marketing and innovation related to TT between research institutions and companies in developing countries is still limited. Thus, this research contributes to generating knowledge in the field and improving TTOs.

This paper aims to investigate the effect of business incubation metrics based on an adaptation of the lean start-up (LS) framework on start-up survival after incubation. This study also analyzes the obstacles in implementing the LS framework as incubation metrics.

This study uses mixed methods. Quantitative research using multiple linear regression was applied to the data of 30 start-ups incubated at Bandung Techno Park for the 2014–2017 period and survival tracking data after the incubation. A qualitative approach to complete the explanatory work was conducted through in-depth interviews with 12 respondents, including start-up graduates from the incubation program, program managers and mentors.

This study confirms that several LS incubation metrics significantly affect start-up sustainability after incubation. In addition, this study also explains several problems in applying the LS discipline that needs attention to increase incubation success.

Research was conducted only at one technology business incubator (TBI) model that focuses on digital start-ups in the emerging ecosystem. Research results can be biased in different situations and ecosystems.

The explanation of the relationship of LS-based incubation metrics to the survival of start-ups, as well as the challenges of their implementation, can be a reference for TBI management to consider and prioritize intervention strategies, thereby improving TBI’s business processes and increasing the success rate of incubated start-ups.

The creation of university start-ups and spin-offs has become a key performance indicator mandatory for technology universities in Indonesia. The existence of TBI institutions in universities as channels of technology commercialization is essential. The incubator’s success in creating a new technology-based company will have a significant social impact on the surrounding environment.

Although the LS method is popular in start-up communities and among practitioners, it is rarely used in the incubation process at universities. These results can be considered for university TBIs to explore LS as an incubation management tool to increase the success rate of incubated start-ups.

Much of extant literature on entrepreneurship ecosystems is geared toward mid- and large-size metropolitan areas, and small cities are considered disadvantageous without essential elements for the ecosystem. The purpose of this paper is to shed light on understanding how small cities can have vibrant entrepreneurship ecosystems.

This study conducted 42 semistructured interviews of entrepreneurs and supporters in small towns of Montana, USA. This study also supplemented with a survey of 178 firms.

Entrepreneurs in small cities enjoy dense support networks including experienced entrepreneurs, key business and civic leaders and elected officials. They also attend entrepreneurial events and establish connections with support organizations with a distance of 200 miles.

The cases in this paper demonstrate that small cities can have vibrant entrepreneurship ecosystems without urban diversity and agglomeration. That additionally means that we should not apply the theoretical framework developed with large urban areas to small cities and consider different models of development for small cities.

This bibliometric analysis underscores the increasing importance of corporate sustainability in the post-COVID-19 era. Despite existing confusion and a dearth of studies on measuring corporate sustainability, the study identifies a significant methodological gap and endeavors to address it by proposing a comprehensive measure. The primary goal is to bridge this gap by conducting a bibliometric analysis on the scale of corporate sustainability, examining 126 documents spanning from 2001 to 2022. The study employs an expert opinion survey to identify and finalize dimensions and sub-dimensions of corporate sustainability, followed by a literature mapping process to formulate questionnaire items. A pilot survey is then conducted to ensure the reliability of the questionnaire. The study proposes utilizing the Organisation for Economic Co-operation and Development (OECD) index construction methodology to establish the Corporate Sustainability Index (CSI). The key findings reveal that corporate sustainability comprises economic, environmental, and social sustainability. Environmental sustainability encompasses aspects such as air, water, land, biodiversity, ocean preservation, waste prevention, and environmental management. Social sustainability involves the satisfaction of various stakeholders, including employees, shareholders, customers, community, government, nongovernmental organizations (NGOs), and suppliers. Economic sustainability is characterized by long-term profits, cost efficiency, trade-offs, sustainable investments, and spin-offs. Rooted in stakeholder theory, the proposed scale holds theoretical significance for researchers and is pertinent to policymakers striving to achieve sustainable development goals (SDGs) by 2030. Additionally, it serves as a crucial tool for practitioners and companies to assess their level of corporate sustainability.