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Efforts to reduce farmers' market risks and improve buyers' access to farm commodities have encouraged contract farming (CF) in Ghana's cashew sector in recent years. Consequently, the existence of CF shows that farmers who use it may be benefiting from it, as it is their economic responsibility to decide how to sell agricultural products. However, the magnitudes of these benefits or otherwise have been inadequately explored. This paper aims to empirically estimate the impact of CF on farm performance and welfare of smallholder cashew farmers.

The study used probit-two-stage least square (probit-2sls) as a primary estimator to account for self-selection bias and endogeneity that could arise from both observed and unobserved heterogeneities among farming households to estimate the causal effects of CF on farm performance and household welfare.

The results indicated that participation in CF contribute significantly to the gains in farm performance (price margins, yields and net farm revenue) and welfare (consumption expenditure per capita), and that the non-participants of CF would have benefited substantially if they had participated. An analysis of the farm size disaggregated into small, medium and large with regards to the outcome variables produces mixed results.

It can be concluded that participating in CF enhances farm performance and household welfare.

While many other studies do not account for changes in farm performance and welfare due to differences in farm size or other observed factors, this study fills a crucial void.

Financial inclusion is measured by the number of people who use the formal financial system and banks in particular. Limited access to formal banking services and the existence of unbanked households is a main policy concern. The authors evaluate how the use of prepaid (reloadable) debit cards by unbanked households affects financial inclusion and specifically the potential for these households to participate in the formal financial system and open a bank account.

The authors apply matching models to analyze survey data from the Federal Deposit Insurance Corporation National Survey of the Unbanked and Underbanked Households from 2009 to 2019 and evaluate how prepaid cards use affects plans to open a bank account.

Unbanked households who use prepaid cards are 5% less likely to open a bank account compared to the matched nonusers of prepaid cards. In addition, prepaid card users are 12% more likely to use nonbanks to transfer money/transact online and 18% more likely to have obtained loans from alternative financial services providers compared to the matched unbanked nonusers of prepaid debit cards.

No previous work has estimated the causal impact of use of prepaid cards on financial inclusion.

The objective of this study is to explore the impact of a government-supported initiative for operational security, specifically the establishment of the national security emergency industry demonstration base, on the profitability of local publicly traded companies. Additionally, the study investigates the significance of firms' blockchain strategies and technologies within this framework.

Using the differences-in-differences (DID) approach, this study evaluates the impact of China's national security emergency industry demonstration bases (2015–2022) on the profitability of local firms. Data from the China Research Data Service (CNRDS) platform and investor Q&As informed our analysis of firms' blockchain strategy and technology, underpinned by detailed data collection and a robust DID model.

Emergency industry demonstration bases have notably boosted enterprise profitability in both return on assets (ROA) and return on equity (ROE). Companies adopting blockchain strategies and operational technology see a clear rise in profitability over non-blockchain peers. Additionally, the technical operation of blockchain presents a more pronounced advantage than at the strategic level.

We introduced a new perspective, emphasizing the enhancement of corporate operational safety and financial performance through the pathway of emergency industry policies, driven by the collaboration between government and businesses. Furthermore, we delved into the potential application value of blockchain strategies and technologies in enhancing operational security and the emergency industry.

This study aims to provide a scientific framework for the selection of suitable substation technology in an electrical power distribution network.

The present paper focuses on adopting an integrated multi-criteria decision-making approach using the Delphi method, analytic hierarchy process (AHP) and technique for order preference by similarity to ideal solution (TOPSIS). The AHP is used to ascertain the criteria weights, and the TOPSIS is used for choosing the most fitting technology among choices of air-insulated substation, gas-insulated substation (GIS) and hybrid substation, to guarantee educated and supported choice.

The results reveal that the GIS is the most preferred technology by area experts, considering all the criteria and their relative preferences.

The current research has implications for public and private organizations responsible for the management of electricity in India, particularly the distribution system as the choice of substations is an essential component that has a strong impact on the smooth functioning and performance of the energy distribution in the country. The implementation of the chosen technology not only reduces economic losses but also contributes to the reduction of power outages, minimization of energy losses and improvement of the reliability, security, stability and quality of supply of the electrical networks.

The study explores the impact of substation technology installation in terms of its economic and environmental challenges. It emphasizes the need for proper installation checks to avoid long-term environmental hazards. Further, it reports that the economic benefits should not come at the cost of ecological degradation.

The present study is the first to provide a decision support framework for the selection of substation technologies using the hybrid AHP-TOPSIS approach. It also provides a cost–benefit analysis with short-term and long-term horizons. It further pinpoints the environmental issues with the installation of substation technology.

Hospital structures serve to protect and improve public health; however, they are recognized as a major source of environmental degradation. Thus, an effective performance evaluation framework is required to improve hospital sustainability. In this context, this study presents a holistic methodology that integrates the sustainability balanced scorecard (SBSC) with fuzzy Delphi method and fuzzy multi-criteria decision-making approaches for evaluating the sustainability performance of hospitals.

Initially, a comprehensive list of relevant sustainability evaluation criteria was considered based on six SBSC-based dimensions, in line with triple-bottom-line sustainability dimensions, and derived from the literature review and experts’ opinions. Then, the weights of perspectives and their respective criteria are computed and ranked utilizing the fuzzy analytic hierarchy process. Subsequently, the hospitals’ sustainable performance values are ranked based on these criteria using the Fuzzy Technique for Order of Preference by Similarity to Ideal Solution.

A numerical application was conducted in six public hospitals to exhibit the proposed model’s applicability. The results of this study revealed that “Patient satisfaction,” “Efficiency,” “Effectiveness,” “Access to care” and “Waste production,” respectively, are the five most important criteria of sustainable performance.

The new model will provide decision-makers with management tools that may help them identify the relevant factors for upgrading the level of sustainability in their hospitals and thus improve public health and community well-being.

This is the first study that proposes a new hybrid decision-making methodology for evaluating and comparing hospitals’ sustainability performance under a fuzzy environment.

This paper aims to explore the effects of two drivers, namely, the received fundings and its interaction with the specialized competences owned by the managerial board, on the R&D activities performed by start-ups.

This paper tests hypotheses on a sample of 405 innovative start-ups established in Italy and registered into the Chamber of Commerce official database. This study uses the R&D expenses as a measure of the innovative performance of start-up, and the authors also collected the number and total amount of grants received by them and the presence of high qualified team in their management board.

The analysis reveals that both the number and total amount of grants received by start-ups positively impact the innovative performance. The same is for the integration of the total amount of grants with the presence of high qualified team in the management board.

This study did not distinguish between different types of grants adopted by start-ups, while it would be interesting to study whether any difference does exist among them in terms of their influence on innovative performance. Also, this paper considers the total number of specialized people in the team while it would certainly be interesting to analyze people’s background and competences in relation to the innovative performances.

This paper allows us to offer some provisional conclusions such as having funds in the preliminary phase of start-up life cycle, and investments mainly for R&D expenses. The start-up must also leverage its skills and therefore it is necessary to invest in human capital.

Findings suggest that policymakers should introduce integrated measures to support start-ups throughout the entire life cycle, from the creation of the idea to incubation up to industrial consolidation.

This paper focuses on the determinants of start-up innovative performance because both external (such as political, economic, social and technological) and internal (such as organizational) influencing factors have to be considered as crucial for start-ups innovation and growth. Finally, this study is one of the few attempts exploring the phenomenon by using an empirical methodology based on real and certificated data.

This study aims to investigate the impact of stakeholders’ nonfinancial resources (NFRs) on companies’ profitability, filling a significant gap in the literature regarding the role of NFRs in value creation.

Data from 76 organizations from 2017 to 2019 were collected and analyzed. Four primary NFRs and their key value drivers were identified, representing core elements that support different dimensions of a company’s performance. Statistical tests examined the relationship between stakeholders’ NFRs and financial performance measures.

When analyzed collectively and individually, the results reveal a significant positive influence of stakeholders’ NFRs on a firm’s profitability. Higher importance assigned to NFRs correlates with a higher return on sales.

This study contributes to the literature by empirically bridging the gap between stakeholder theory and the resource-based view, addressing the intersection of these perspectives. It also provides novel insights into how stakeholders’ NFRs impact profitability, offering valuable implications for research and managerial practice. It suggests that managers should integrate nonfinancial measures of NFRs within their performance measurement system to manage better and sustain companies’ value-creation process.

The aim of this study is to understand the levels (i.e. mild vs intense) of task conflict (TC) expressions between angel investors and entrepreneurs at the post-investment stage and how it affect angel investors’ follow-on investment intentions with the same entrepreneur.

Survey data was gathered from 71 angel investors in China. Mplus was used to test the proposed research model.

This study found that angels perceive affective conflict (AC) when engaged in intense TC, unlike the case for mild TC expressions. Furthermore, the analysis shows that, unlike mild TC expressions, intense TC expressions impede angels’ reinvestment intentions when they perceive ACs. Other results indicate that when angels perceive that entrepreneurs are not open to coaching, the prominence of mild TC expression is sharply mitigated and becomes as detrimental as intense TC expressions.

This study only focused on one specific aspect of the angel–entrepreneur post-investment relationship: The effect of their TC expressions on angels’ reinvestment intentions. By no means do the authors imply that TC expression in the angel–entrepreneur post-investment relationship is the only factor that matters to angel investors in their follow-on investment intentions with the same entrepreneur.

The findings suggest that entrepreneurs should pay careful attention to TC that may arise between them and their financiers. TCs are not entirely detrimental, but their negative effect might depend on how they are expressed. An appropriate level of TC may also improve enterprise performance and collaboration. Thus, angels and entrepreneurs should set clear goals and performance standards, where task interactions mainly focus on the goals and expected outcomes.

Prior to this study, little was known about whether all TCs potentially lead to ACs. By distinguishing between levels (i.e. mild vs intense) of TC expressions between angels and entrepreneurs, this study adds a novel aspect to it by showing that TC, in and of itself, does not necessarily lead to AC but can lead to AC once its intensity grows.

This paper aims to examine the interrelation between two innovating strategies (product and process) on total factor productivity (TFP) growth and the dynamic linkages between these strategies, for Colombia. The authors first explore whether ex ante more productive firms are those that introduce innovations (the self-selection hypothesis) and if the introduction of innovations boosts TFP growth (the returns-to-innovation hypothesis). Second, the authors study the firm’s joint dynamic decision to implement process and/or product innovations. The authors use Colombian manufacturing data from the Annual Manufacturing and the Technological Development and Innovation Surveys.

This study uses a four-stage procedure. First, the authors estimate TFP using a modified version of Olley and Pakes (1996) and Levinsohn and Petrin (2003), proposed by De Loecker (2010), that implements an endogenous Markov process where past firm innovations are endogenized. This TFP would be estimated by GMM, Wooldridge (2009). Second, the authors use multivariate discrete choice models to test the self-selection hypothesis. Third, the authors explore, using multi-value treatment evaluation techniques, the life span of the impact of innovations on productivity growth (returns to innovation hypothesis). Fourth, the authors analyse the joint likelihood of implementing process and product innovations using dynamic panel data bivariate probit models.

The investigation reveals that the self-selection effect is notably more pronounced in the adoption of process innovations only, as opposed to the adoption of product innovations only or the simultaneous adoption of both process and product innovations. Moreover, our results uncover distinct temporal patterns concerning innovation returns. Specifically, process innovations yield immediate benefits, whereas implementing both product innovations only and jointly process and product innovations exhibit significant, albeit delayed, advantages. Finally, the analysis confirms the existence of dynamic interconnections between the adoption of process and product innovations.

The contribution of this work to the literature is manifold. First, the authors thoroughly investigate the relationship between the implementation of process and product innovations and productivity for Colombian manufacturing explicitly recognising that firms’ decisions of adopting product and process innovations are very likely interrelated. Therefore, the authors start exploring the self-selection and the returns to innovation hypotheses accounting for the fact that firms might implement process innovations only, product innovations only and both process and product innovations. In the analysis of the returns of innovation, the fact that firms may choose among a menu of three innovation strategies implies the use of evaluation methods for multi-value treatments. Second, the authors study the dynamic inter-linkages between the decisions to implement process and/or product innovations, that remains under studied, at least for emerging economies. Third, the estimation of TFP is performed using an endogenous Markov process, where past firms’ innovations are endogenized.

Firms are increasingly required to make ethical choices when selecting suppliers for their supply chains, and the decisions often rest on individual purchasing managers within the firm. This study builds on the literature on ethical decision-making and the concept of decision frames to investigate the decision-making process of purchasing managers in financially distressed firms. Codes of Conduct (CoC) and how they are enforced (financial rewards and codified procedures for oversight) are studied in terms of their effectiveness in informing and guiding purchasing managers in their supplier selection decisions.

Four sequential experiments were conducted with a total of 648 purchasing managers from manufacturing firms.

The results indicate that purchasing managers in firms facing financial distress are more than four times more likely than purchasing managers in the control groups to select the less ethical supplier in favor of better operational performance. As a potential remedy, it is found that enforcing the firm's CoC help to counteract this tendency and increase ethical supplier selection decisions by 2.1- to 2.6-fold. However, CoC enforcement that invokes multiple conflicting decision frames simultaneously is more likely to impair than promote ethical supplier selection decisions, compared to situations where only one enforcement method is present.

These findings develop an improved understanding of purchasers' decision-making processes and shed light on how to effectively use CoCs to guide these decisions.