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This study aims to systematise the links between firms’ strategies (corporate and business) and the cluster dynamics (through the cluster life cycle [CLC] perspective) and propose an integrative framework bridging firms’ strategic behaviour and cluster dynamics (CLC).

The methodology used is an integrative literature review, which provides a distinctive form of research.

The study identifies several links between firms’ strategies (corporate and business) and the cluster dynamics (CLC), namely: (1) firms’ strategies as a triggering factor of cluster evolution; (2) firms’ strategies and path's decline; (3) firms’ strategies and cluster’s renewal; (4) resilience strategies and the cluster life cycle; and (5) cluster’s features and firms’ strategies.

This study contributes to developing strategic management theory and cluster theory by bridging firms' strategies and cluster dynamics (CLC). It proposes a new conceptualisation of the impact of cluster dynamics on firms' strategic choices – firstly, it proposes a specific approach to identify the CLC; and secondly, it develops an integrative framework model that relates firms' strategies and each stage of the CLC. These are theoretical tools relevant for further advancements in this area of research, as they can be applied in studies of different clusters for validation, something that was not done.

The integrative framework is expected to be helpful to company managers, allowing them to design better strategies that account for dynamic cluster environments.

This study aims to fill this gap in the literature by systematising the links between firms' strategies (corporate and business) and the cluster dynamics (CLC).

The study seeks to understand the possible opportunities that Industry 5.0 might offer for various aspects of inclusive sustainability. The study aims to discuss existing perspectives on the classification of Industry 5.0 technologies and their underlying role in materializing the sustainability values of this agenda.

The study systematically reviewed Industry 5.0 literature based on the PRISMA protocol. The study further employed a detailed content-centric review of eligible documents and conducted evidence mapping to fulfill the research objectives.

The advancement of Industry 5.0 is currently underway, with noteworthy initial contributions enriching its knowledge base. Although a unanimous definition remains lacking, diverse viewpoints emerge concerning the recognition of fundamental technologies and the potential for yielding sustainable outcomes. The expected contribution of Industry 5.0 to sustainability varies significantly depending on the context and the nature of underlying technologies.

Industry 5.0 holds the potential for advancing sustainability at both the firm and supply chain levels. It is envisioned to contribute proportionately to the three sustainability dimensions. However, the current discourse primarily dwells in theoretical and conceptual domains, lacking empirical exploration of its practical implications.

This study comprehensively explores diverse perspectives on Industry 5.0 technologies and their potential contributions to economic, environmental and social sustainability. Despite its promise, the practical evidence supporting the effectiveness of Industry 5.0 remains limited. Certain conditions are necessary to realize the benefits of Industry 5.0 fully, yet the mechanisms behind these conditions require further investigation. In this regard, the study suggests several potential areas for future research.

Both technological and human-centric perspectives need to be acknowledged when combining lean production practices and Industry 4.0 (I4.0) technologies. This study aims to explore and explain how lean production practices and I4.0 technologies may coexist to enhance the human-centric perspective of manufacturing operations in the era of Industry 5.0 (I5.0).

The research approach is an explorative and longitudinal case study. The qualitative data collection encompasses respondents from different job functions and organizational levels to cover the entire organization. In total, 18 interviews with 19 interviewees and five focus groups with a total of 25 participants are included.

Identified challenges bring forth that manufacturing organizations must have the ability to see beyond lean production philosophy and I4.0 to meet the demand for a human-centric perspective in socially sustainable manufacturing in the era of Industry 5.0.

The study suggests that while lean production practices and I4.0 practices may be considered separately, they need to be integrated as complementary approaches. This underscores the complexity of managing simultaneous organizational changes and new digital initiatives.

The research presented illuminates the elusive phenomena comprising the combined aspects of a human-centric perspective, specifically bringing forth implications for the co-existence of lean production practices and I4.0 technologies, in the transformation towards I5.0.

The study contributes to new avenues of research within the field of socially sustainable manufacturing. The study provides an in-depth analysis of the human-centric perspective when transforming organizations towards Industry 5.0.

This study aims to assess the technological capability of Chinese internet platforms (BAT: Baidu, Alibaba, Tencent) compared to US ones (GAFA: Google, Amazon, Facebook, Apple). More specifically, this study explores Baidu’s technological catching-up process with Google by analyzing their patent textual information.

The authors retrieved 26,383 Google patents and 6,695 Baidu patents from PATSTAT 2019 Spring version. The collected patent documents were vectorized using the Word2Vec model first, and then K-means clustering was applied to visualize the technological space of two firms. Finally, novel indicators were proposed to capture the technological catching-up process between Baidu and Google.

The results show that Baidu follows a trend of US rather than Chinese technology which suggests Baidu is aggressively seeking to catch up with US players in the process of its technological development. At the same time, the impact index of Baidu patents increases over time, reflecting its upgrading of technological competitiveness.

This study proposed a new method to analyze technology mapping and evolution based on patent text information. As both US and China are crucial players in the internet industry, it is vital for policymakers in third countries to understand the technological capacity and competitiveness of both countries to develop strategic partnerships effectively.

Venture capital (VC) is an essential element in healthy entrepreneurial environments; therefore, many countries in developing entrepreneurial economies support the industry via direct or indirect government interventions. The purpose of this study is to examine through the example of the Hungarian market, whether direct or hybrid state involvement has contributed more to the growth of the invested enterprises. The findings are relevant in the design of government VC schemes and in the contracts mitigating the moral hazards inherent in government funding.

The basis of empirical research is a unique hand-collected database covering Hungarian government-backed VC (GVC) investments. Based on the financial data of investee firms, the authors investigate whether firms financed by hybrid VC involving market participants are able to outperform firms that receive pure public financing using panel regression.

Based on Hungarian evidence, hybrid VC-backed firms generated lower growth and employment than their purely government-backed peers. Both schemes showed meagre innovation activity. The conclusion is that because of the conflict of private and economic policy objectives in hybrid financing, the exposure of hybrid risk capital to moral hazard is higher than that of pure public financing. Private interests in hybrid funds can only improve investment efficiency if they are structured along the lines of market-based independent financial intermediation and the contracts imitate the ones existing amongst limited and general partners in private schemes.

The research covers the data of Hungarian government-backed firms by tracking the full range of 86 investments made in the purely government scheme and 340 firms that received funding in the hybrid scheme. The research focuses on two government initiatives, and the results are influenced by the specific regulation of the programs; therefore, the results cannot be generalized for all government agendas; they are indicative in the designs of the agendas.

There is a limited number of empirical studies investigating the impact of VC in developing markets, especially in the Central and Eastern Europe region. This firm-level research on the impact of public VC can help improve the effectiveness of development policies. By analysing the entirety of investments of a VC program that is near to its completion, the authors provide new insight into the efficiency and prospects of GVC schemes in the region.