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The purpose of this study is to explore the antecedents of uncaptured sustainable value and strategies to generate opportunities to capture it in the circular supply chain of post-consumer used clothing.

This study is based on an inductive analysis of 21 semi-structured interviews conducted with various stakeholders in the circular clothing supply chain (for-profit and not-for-profit) using the value mapping approach, as previously applied in the literature on sustainable business models.

Fifteen antecedents of uncaptured sustainable value, and thirteen value opportunity strategies were revealed that hinder or generate multi-dimensional value types. Economic value is impacted the most, while there is lack of explicit understanding of the impact of these antecedents and strategies on environmental and social value capture. From a multi-stakeholder perspective, the ecosystem is emerging as new for-profit actors are developing novel process technologies, while not-for-profit actors are consolidating their positions by offering new service options. There is also an emerging “coopetition” between the different stakeholders.

More granularity in the different types of uncaptured value could be considered, and external supply chain stakeholders, such as the government, could be included, leading to more detailed value mapping.

This research provides practitioners with a value-mapping tool in circular clothing supply chains, thus providing a structured approach to explore, analyse and understand uncaptured value and value opportunities.

This extended value perspective draws upon the value-mapping approach from the sustainable business model literature and applies it in the context of the circular clothing supply chain. In doing so, this research illustrates circular clothing supply chains in a new way that facilitates an improved understanding of multi-dimensional and multi-stakeholder value for embedded actors.

This study examines the role of social media adoption (SMA), opportunity recognition (OR) and opportunity exploitation (OE) in mediating the relationship between entrepreneurial orientation (EO) and the performance of newly established small and medium-sized enterprises (SMEs) in emerging economies, with a particular emphasis on Ghana.

This study adopts a post-positivist philosophical stance and uses a quantitative approach and a survey design. A purposive sampling technique was used to select 336 SME owners and managers from Ghana’s manufacturing, trading and service sectors. Questionnaires were administered to source the empirical data for this study. Structural equation modelling (SEM) was used to analyse the proposed hypotheses.

The results reveal that EO positively and significantly influences the performance of new-born SMEs. SMA, OR and OE partially mediated this relationship.

This study is a wakeup call to policymakers, practitioners, managers and owners of recently established businesses. Policymakers should provide support and resources for newly established SMEs to adopt effective social media marketing strategies, bolstering their online presence and customer engagement. Simultaneously, they should invest in entrepreneurship education and create an environment conducive to innovation to cultivate an entrepreneurial mindset among fresh SMEs. Business owners and managers should proactively monitor market trends and consumer preferences, adapting their strategies to identifying and seizing emerging opportunities.

This study introduces a significant novelty to previous literature and one of the first to employ the dynamic capability theory to examine the interplay between EO, SMA, OR and OE in influencing the performance of new SMEs in the context of emerging markets. Furthermore, it extends the scope of understanding of the mechanisms through which SMEs can prosper in these dynamic environments. This unique combination of theoretical framework, comprehensive variables and contextual focus sets this study apart from existing research, enriching the literature on SME performance in emerging markets.

This article analyzes the moderating role of investment opportunities, business risk and agency costs in shaping the nexus between excess cash and corporate performance.

This research uses dynamic regression models (two-step system generalized method of moments) to analyze the data related to 200 Turkish companies listed on Borsa Istanbul (BIST) for the years between 2009 and 2020.

The findings indicate that when excess cash increases, the financial performance deteriorates only for firms with lower investments compared to firms with more investments. In addition, investment contributes to better financial performance for firms that hold cash surplus, whereas the influence of investment is insignificant for firms that have insufficient cash. Agency costs of equity exacerbate the adverse impact of excess cash on financial performance while agency costs of debt mitigate this effect. Excess cash reduces the financial performance of highly leveraged firms. However, this impact becomes insignificant when debt ratio decreases. The findings also show that investment has more significant role than business risk in building the precautionary motive to hold cash.

The findings of this article are limited to the Turkish market. Future research is still needed in other emerging markets to compare the results and reveal more about the effect of excess cash on firm performance, and how other factors can change this effect.

The findings verify the increased significance of excess cash in the presence of investment opportunities and difficulties in accessing external funds. Nevertheless, the role of the equity related agency problem in reducing the benefits of cash surplus confirms the necessity of policies that support corporate governance, especially in emerging markets.

This article, according to the knowledge of author, is the first to examine the role of agency costs associated with debt and equity, and the compound effect of investment opportunities and business risk on the nexus between excess internal funds and corporate financial performance in emerging markets.

This paper aims to investigate associations between firm resources and reliance on entrepreneurial marketing (EM) channels among agrofood ventures. It accounts for agropreneur gender and racial/ethnic status in the context of marketing channel portfolio composition. The authors examine the established assumption that resource limitations drive EM and whether socially disadvantaged status of agropreneurs is associated with marketing strategy beyond standard resourcing measures.

Using 2015 Local Foods Marketing Practices Survey data, the authors apply linear regression to investigate differences in the use of EM channels, accounting for resources, social status and other factors.

Limited-resource ventures rely more on consumer-oriented channels that require EM practices. Socially disadvantaged entrepreneurs favor these channels, even when accounting for resources. Notably, ventures headed by men of color rely more on the most customer-centric local foods marketing channel.

Future research should investigate how social and human capital influences the use of EM.

Entrepreneurial support policy and practice for agropreneurs should be cautious about the “double-burden” folk theorem of intersectional disadvantage and review how to best direct resources on EM to groups most likely to benefit.

This paper uses a unique, restricted, nation-wide, federal data set to examine relationships between resource endowments, social status and the composition of agrofood enterprises’ marketing channel portfolios. To the best of the authors’ knowledge, it is the first to include racial- and ethnic-minority status of agropreneurs and to account for intersectionality with gender.

The purpose of this paper was to determine the factors that enable entrepreneurial opportunity recognition and the significant role of education and training in enhancing opportunity recognition.

This paper follows a systematic literature review method to answer the research questions. A systematic literature review allows us to determine the work carried out to date, how it was done, assess literature and report all relevant research. The authors have used the Preferred Reporting Items for Systematic and Meta-Analysis procedure.

The findings of this study showed that prior knowledge, social networks, external environment, entrepreneurial alertness, creativity, self-efficacy and entrepreneurial passion are the main factors that play a role in the opportunity recognition process. The authors were also able to establish the importance of education and training in enhancing opportunity recognition. Experiential learning is at the forefront of education methods used to improve prior knowledge and experience that directly impact the ability to recognize entrepreneurial opportunities.

The paper provides human resource development practitioners and entrepreneurship educators with factors that determine entrepreneurial opportunity recognition. It pinpoints the factors that can be exploited in enhancing employees and novice entrepreneurs’ ability to recognize viable entrepreneurial opportunities.

Opportunity recognition is recognized as the first step in the entrepreneurship process. Therefore, it is crucial for entrepreneurs to have the ability to recognize opportunities that are viable. Understanding the factors that contribute to a successful opportunity recognition is important. In addition, the role of education and training in opportunity recognition and enhancing entrepreneurial opportunity recognition cannot be overlooked.

There is still an ongoing debate on the value relevance of capital structure and its determinants. Recently the issue has been explored in family firms after being explored in mature firms. This paper investigates the role of institutional investors and the firm's innovation activity in influencing the firm's decision and ability to acquire debt capital.

A large sample of 700 privately-held family firms in Italy from 2010 to 2019. Two analysis techniques are used: panel analysis and path analysis. The value of debt and the debt ratio are used as leverage measures. The value of patent (as a proxy for innovation) and institutional investor are the explanatory variables.

The results show that institutional investors have no relationship with financial leverage measures except when controlling for an interaction variable (Institutional investors × Lombardy region). The patent value is positively correlated with debt; however, the ratio patent-to-asset is negatively related to financial leverage indicating higher risk exposure. The nonlinearity test demonstrates a turning point when the relationship between patent value and debt inverts.

Firms should monitor their innovation activity since excessive innovation increases risk exposure and affects financing opportunities and value. The involvement of institutional investors does not always enhance value.

Existing literature focuses separately on family firm innovations and financial leverage as outcome variables, emphasizing the role of institutional investors in both fields by adopting agency theory and socioemotional wealth framework. In this study, the authors go further by merging both relationships, investigating the dynamics of the institutional-family firm innovation relationship in influencing the firm's capital structure. The authors contribute to the ongoing debate by providing original findings on capital structure, governance and innovation, supported by rigorous methods to enhance family firms' decision-making.

This paper aims at measuring the factors affecting early-stage entrepreneurial activity by opportunity vs necessity motives in India using theory of planned behaviour.

The study is based on the Adult Population Survey (APS) of Global Entrepreneurship Monitor (GEM), covering 4,165 respondents in 2018. The data has been analysed using descriptive statistics, chi-square test, analysis of variance and logistics regression. The theory of planned behaviour has been used to identify the determinants of early-stage entrepreneurial activity by opportunity vs necessity motives.

About 13.1% of the respondents reported early-stage entrepreneurial activity, of which opportunity motives were reported by 6.5% respondents, necessity motives by 5.4% respondents and the remaining 1.2% respondents reported other motives. Further, the mean difference in early-stage entrepreneurial activities by motives shows the domination of opportunity-driven entrepreneurial activities. Finally, marginal effects of all determining variables and three components of the theory of planned behaviour, i.e. attitude towards entrepreneurship (ATE), perceived subjective norm (PSN) and perceived behavioural control (PBC), have been estimated on opportunity vs necessity motives of early-stage entrepreneurial activities.

This paper contributes theoretically and practically to the existing body of knowledge by predicting the factors affecting opportunity vs necessity motives of early-stage entrepreneurial activities by applying the theory of planned behaviour. Considering the current focus of the government on promoting entrepreneurship, this piece of research can be valuable in adopting a motive-based approach in implementing entrepreneurial initiatives.

This paper provides unique insights into developing a policy framework for promoting new ventures based on the perceived motives of the entrepreneurs.

This paper aims to examine the key challenges experienced and lessons learned when organizations undergo large-scale agile transformations and seeks to answer the question of how incumbent firms achieve agility at scale.

Building on a case study of a multinational corporation seeking to scale up agility, the authors combined 36 semistructured interviews with secondary data from the organization to analyze its transformation since the early planning period.

The results show how incumbent firms develop and successfully integrate agility-enhancing capabilities to sense, seize and transform in times of digital transformation and rapid change. The findings highlight how agility can be established initially at the divisional level, namely with a key accelerator in the form of a center of competence, and later prepared to be scaled up across the organization. Moreover, the authors abstract and organize the findings according to the dynamic capabilities framework and offer propositions of how companies can achieve organizational agility by scaling up agility from a divisional to an organizational level.

Along with in-depth insights into agile transformations, this article provides practitioners with guidance for developing agility-enhancing capabilities within incumbent organizations and creating, scaling and managing agility across them.

Examining the case of a multinational corporation's exceptional, pioneering effort to scale agility, this article addresses the strategic importance of agility and explains how organizational agility can serve incumbent firms in industries characterized by uncertainty and intense competition.

This study aims to explore how sustainable business models (SBM) can be developed within agri-innovation systems (AIS) and emphasize an integration of the two with a systemic understanding for reducing food loss and value loss in postharvest agri-food supply chain.

This study conducted longitudinal qualitative research in a developing country with food loss challenges in the postharvest supply chain. This study collected data through multiple rounds of fieldwork, interviews and focus groups over four years. Thematic analysis and “sensemaking” were used for inductive data analysis to generate rich contextual knowledge by drawing upon the lived realities of the agri-food supply chain actors.

First, this study finds that the value losses are varied in the supply chain, encompassing production value, intrinsic value, extrinsic value, market value, institutional value and future food value. This happens through two cumulative effects including multiplier losses, where losses in one model cascade into others, amplifying their impact and stacking losses, where the absence of data stacks or infrastructure pools hampers the realisation of food value. Thereafter, this study proposes four strategies for moving from the loss-incurring current business model to a networked SBM for mitigating losses. This emphasises the need to redefine ownership as stewardship, enable formal and informal beneficiary identification, strengthen value addition and build capacities for empowering communities to benefit from networked SBM with AIS initiatives. Finally, this study puts forth ten propositions for future research in aligning AIS with networked SBM.

This study contributes to understanding the interplay between AIS and SBM; emphasising the integration of the two to effectively address food loss challenges in the early stages of agri-food supply chains. The identified strategies and research propositions provide implications for researchers and practitioners seeking to accelerate sustainable practices for reducing food loss and waste in agri-food supply chains.

Previous research has indicated that entrepreneurial marketing (EM) positively influences small and medium-sized enterprises’ (SMEs) performance. While most studies have examined the relationship in a stable environment, EMs’ effectiveness during environmental instability remains uncertain. Therefore, the study aims to investigate the influence of EM on Indian manufacturing-based SMEs’ performance during the COVID-19-induced environmental instability. Additionally, it explores the mediating role of innovative performance in the relationship between EM and SME performance.

The data were collected by distributing a structured survey questionnaire to 302 owners/managers of SMEs. Hypotheses were tested using structural equation modeling (SEM).

The result indicates that EM significantly impacts both innovation and SME performance. Furthermore, the innovative performance partially mediates the link between EM and SME performance. The findings suggest that even within severely affected sectors (manufacturing) during the pandemic, SMEs can achieve growth and innovation through effective EM practices.

This study validates the theoretical notion that EM remains effective even in unpredictable environments such as the COVID-19 pandemic. The findings offer valuable insights for SMEs seeking innovative strategies to enhance their performance, particularly those in emerging economies.

Prior studies have relied on a single layer of abstraction to analyze the impact of EM. The present study is the first to extend standard construct (EM) conceptualization. Furthermore, it evaluated the efficiency of EM in situations characterized by instability, which is rare in the EM and SME literature.