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The paper's purpose is to investigate the effects of digital finance on the risk of stock price crashes and the underlying transmission mechanisms, and to provide suggestions to inhibit the stock crash risk (CR).

This paper selects all companies that were listed on the Shanghai Stock Exchange and the Shenzhen Stock Exchange from 2011 to 2020. It then uses the two-way fixed effect model and the intermediary effect model to verify such effects.

The overall outcomes demonstrate such a result that the CR of listed companies in China can be significantly reduced by the development of digital finance, and the overall transparency of business financial information and the equity pledge of controlling shareholders are the two underlying transmission mechanisms that digital finance can cause effects on the CR of stocks.

The main limitations are that there may exist some problems in the method for evaluating the CR of stocks. And there may be a problem of endogeneity caused by the empirical model cannot control all correlation variables.

This paper would provide policy implications, for different roles, to inhibit the stock CR and to make the development of the economy more stabilize.

Digital finance can promote economic development while restraining financial risks at the same time. Therefore, although this study is based on the relevant data from China, it can also provide a reference for other economies with different basic conditions from China, to promote the overall development of the world economy.

The current academic research on digital finance or stock price CR has been relatively sufficient, but there are few papers that combined both. By combining digital finance with stock CR, this paper researches the influence of digital finance on the CR of stocks through empirical analysis. So, this paper would provide new research ideas and evidence for potential influence factors of the CR of stocks, fill the gap in this research field and provide certain help for subsequent scholars to conduct relevant research.

This article aims to investigate the status of and the trends in the intertwining of crowdfunding and innovation literature by identifying, evaluating and synthesizing the findings from previous research. This paper provides a bibliometric meta-analysis of the already substantial and growing literature on innovation and crowdfunding research.

Using a bibliometric approach, this research scrutinizes all articles that include terms related to “crowdfunding” and “innovation” (in their title, abstract or keywords) in Elsevier’s Scopus database. VosViewer and Bibliometrix package in R have been used to analyse 150 articles.

The results suggest that there are three main research clusters in the innovation and crowdfunding literature. The first cluster highlights the role of crowdfunding in fostering radical and incremental innovation. The second cluster focuses on the concept of openness and its effect on innovation in crowdfunding campaigns, while the third cluster explains the role of platforms’ innovation in crowdfunding success.

Taking a holistic perspective, this contribution advances new knowledge on the intertwining of crowdfunding and innovation research fields. It implies that crowdfunding is facilitating the flow of knowledge between different stakeholders, including project initiators and crowd investors, among others, as they all benefit from open innovation platforms.

The primary purpose of this paper is to identify the so-called core authors and their publications according to pre-defined criteria and thereby direct the users to the fastest and easiest way to get a picture of the otherwise pervasive field of bankruptcy prediction models. The authors aim to present state-of-the-art bankruptcy prediction models assembled by the field's core authors and critically examine the approaches and methods adopted.

The authors conducted a literature search in November 2022 through scientific databases Scopus, ScienceDirect and the Web of Science, focussing on a publication period from 2010 to 2022. The database search query was formulated as “Bankruptcy Prediction” and “Model or Tool”. However, the authors intentionally did not specify any model or tool to make the search non-discriminatory. The authors reviewed over 7,300 articles.

This paper has addressed the research questions: (1) What are the most important publications of the core authors in terms of the target country, size of the sample, sector of the economy and specialization in SME? (2) What are the most used methods for deriving or adjusting models appearing in the articles of the core authors? (3) To what extent do the core authors include accounting-based variables, non-financial or macroeconomic indicators, in their prediction models? Despite the advantages of new-age methods, based on the information in the articles analyzed, it can be deduced that conventional methods will continue to be beneficial, mainly due to the higher degree of ease of use and the transferability of the derived model.

The authors identify several gaps in the literature which this research does not address but could be the focus of future research.

The authors provide practitioners and academics with an extract from a wide range of studies, available in scientific databases, on bankruptcy prediction models or tools, resulting in a large number of records being reviewed. This research will interest shareholders, corporations, and financial institutions interested in models of financial distress prediction or bankruptcy prediction to help identify troubled firms in the early stages of distress.

Bankruptcy is a major concern for society in general, especially in today's economic environment. Therefore, being able to predict possible business failure at an early stage will give an organization time to address the issue and maybe avoid bankruptcy.

To the authors' knowledge, this is the first paper to identify the core authors in the bankruptcy prediction model and methods field. The primary value of the study is the current overview and analysis of the theoretical and practical development of knowledge in this field in the form of the construction of new models using classical or new-age methods. Also, the paper adds value by critically examining existing models and their modifications, including a discussion of the benefits of non-accounting variables usage.

Stemming from the resource-based view (RBV) approach, this article overcomes the limits of the conventional strengths, weaknesses, opportunities and threats (SWOT) analysis, setting the basis for the model actual–potential, positive–negative, internal–external (APPNIE). This paper enacts a new framework demonstrating how strengths, weaknesses, opportunities and threats of SWOT can be replaced by actual or potential, positive or negative elements, considered in a dynamic way.

The traditional SWOT analysis provides only a partial view of the environment and adopts incorrect terminology that can confuse the user, preventing a clear understanding of the factors affecting the organisation’s situation. The authors developed a new tool to help managers in their decision-making processes.

This study proposes a new tool for assessing the quality of management, resources and environment, which is useful in understanding the economic and social scenario in which a firm is embedded. From a practical point of view, the new tool is applied in the case study, and it shows how managers and students can use it while choosing between alternative options (different strategies, markets, technologies, etc.).

The APPNIE model introduces a new dimension that the SWOT analysis does not consider. Moreover, for each element of the new matrix, the authors propose a plan of action, which is another valuable benefit of the APPNIE model.

This study investigates the relationship between board gender diversity (BGD) and the time to Initial Public Offering (IPO), which stands as an entrepreneurially risky choice, particularly challenging in family firms. We also investigate the moderating role of family ownership dispersion (FOD).

We draw on an integrated theoretical framework bringing together the upper echelons theory and the socio-emotional wealth (SEW) perspective and on hand-collected data on a sample of Italian family IPOs that occurred in the period 2000–2020. We employ ordinary least squares (OLS) regression and alternative model estimations to test our hypotheses.

BGD positively affects the time to IPO, thus, it increases the time required to go public. FOD negatively moderates this relationship. Our findings remain robust with different measures for BGD, FOD, and family business definition as well as with different econometric models.

The article develops literature on family firms and IPO and it enriches the academic debate about gender and IPOs in family firms. It adds to studies addressing the determinants of the time to IPO by incorporating gender diversity and the FOD into the discussion. Finally, it contributes to research on women and outcomes in family firms.

This study aims to identify the key factors driving consumer adoption attention toward FinTech services in a bank-based financial system to lay a firm ground for further policy recommendations to promote the dual development of FinTech and the banking industry in Vietnam as well as other emerging economies similar banking system.

A technology acceptance model with a data set of 387 observations collected from a thorough research design is used and proceeded with probit regression.

The paper finds that existing bank users are holding a high intention to approach FinTech services regardless of involved costs and time, suggesting a traditional banking system to open up the collaboration channel with FinTech firms in prospective business areas. The findings also reveal an interestingly important position of consumers’ latent needs in inclining consumers to use FinTech services in Vietnam.

In this study, the variable measurement is not comprehensive as the authors use a single question for each variable. Second, most of the respondents reside in two big cities of the country, which are currently witnessing the rising presence of FinTech companies. So, if the future penetration of FinTech firms reaches out of these big cities, a better research sample with a diversified geographic trait should be considered.

This study’s findings draw out valuable recommendations to bankers and especially policymakers to stimulate the future penetration of FinTech firms along with assuring and strengthening the important position of the banking sector in the economy.

This paper’s novelty lies in several aspects. First, this study provides a broad view of the market potentials for FinTech firms from the demand side on a wide range of FinTech services rather than focusing only on payment services as presented in previous studies. Besides, the paper also discovers a new factor attributing to the adoption intention of the FinTech end-users, the users’ latent needs. Third, these empirical results carry a considerable contribution to the limited literature on this topic in Vietnam. And, most importantly, this study’s findings significantly prove the noticeable contribution of consumers’ preference to the indisputable development of FinTech. This afterwards helps to shape viable governmental regulations to facilitate effective market penetration strategies of FinTech in accordance with nurturing the future strategic development of a bank-based financial system under the emergence of FinTech. Of which, the authors call for clear and official moves of the governmental bodies in facilitating the collaboration between FinTech and the banking system coupled with enhancing measures of customer protection in the financial field in Vietnam. The findings and the regulatory implications for our country could be a vital source and replicated for other emerging economies’ cases with similar traits of the financial system.

The purpose of this study is to quantify the impact of electricity power outages on the local housing market in South Africa.

This study uses the autoregressive distributive lag (ARDL) and quantile autoregressive distributive lag (QARDL) models on annual time series data, for the period 1971–2014. The interest rate, real income and inflation were used as control variables to enable a multivariate framework.

The results from the ARDL model show that real income is the only factor influencing housing price over the long run, whereas other variables only have short-run effects. The estimates from the QARDL further reveal hidden cointegration relationship over the long run with higher quantile levels of distribution and transmission losses raising the residential price growth.

Overall, the findings of this study imply that the South African housing market is more vulnerable to property devaluation caused by power outages over the short run and yet remains resilient to loadshedding over the long run. Other macro-economic factors, such as real income and inflation, are more influential factors towards long-run developments in the residential market.

To the best of the authors’ knowledge, this is the first study to examine the empirical relationship between power outages and housing price growth.

Crowdfunding is an increasingly popular channel for project fundraising for entrepreneurial ventures. Such efforts require fundraisers to develop and manage a crowdfunding campaign over a period of time and several stages. Thus, the authors aim to identify the stages fundraisers go through in their crowdfunding campaign process and how their engagement evolves throughout this process.

Following a multiple case study research design analysing six successful campaigns, the current study suggests a taxonomy of stages the fundraisers go through in their crowdfunding campaign management process while identifying the types of engagement displayed and their relative intensity at each of these stages.

The study proposes a five-stage process framework (pre-launch, launch, mid-campaign, conclusion and post-campaign), accompanied by a series of propositions outlining the relative intensity of different types of engagement throughout this process. The authors show that engagement levels appear with high intensity at pre-launch, and to a lesser degree also at the post-launch stage while showing low intensity at the stages in between them. More specifically, cognitive and behavioural engagement are most prominent at the pre- and post-launch stages. Emotional engagement is highest during the launch, mid-launch and conclusion stages. And social engagement maintains moderate levels of intensity throughout the process.

This study focuses on the campaign process using engagement theory, thus identifying the differing engagement patterns throughout the dynamic crowdfunding campaign management process, not just in one part.

This paper aims to conduct a systematic review of the literature on the quality of integrated reports (IR) and highlight the gaps in the existing research to provide directions and suggestions for future research.

This study was conducted through a systematic literature review using content analysis based on 40 papers from the Scopus, Web of Science and EBSCOhost databases on IR quality. While reading the full-text papers, the authors found six additional papers referenced by the literature being reviewed that were relevant to IR quality. Thus, there were 46 papers in the final review. The analysis begins with the definition and dimension of IR quality and theoretical lenses. Furthermore, this study outlines constructs or variables used in the previous literature.

The authors found that most studies used the quantitative method (41 papers or 89%). Five papers in the literature used qualitative methods (11%). Most researchers (34 papers or 72%) defined IR quality as consistent with the International Integrated Reporting Council framework, specifically the eight content elements. In particular, with the constructs that make up the quality of the IR, variations between researchers were found. Furthermore, there were some gaps that could be the directions for future research.

The literature that provides academic knowledge about IR quality is still limited, and research on IR is still growing. The literature review conducted by this study can provide an overview of the current research positions on the quality of IR and directions for future research in this area.

This study intends to show corporate executives a framework demonstrating the quality of corporate reporting. It can impact not only investors as a specific stakeholder group but also other stakeholder groups.

To the best of the authors’ knowledge, this study is the first literature review to examine the quality of IR, thus providing a map of current research to suggest directions for future research. Most of the previous literature reviews have been focused on integrated reporting (IR) in general and not quality.

Drawing insights from institutional theory, this paper aims to examine whether and to what extent banks have reconfigured their management control systems (MCSs) in response to growing institutional pressures towards sustainability, understood as environmental, social and governance (ESG) issues.

The authors conducted an exploratory study at the three largest Italian banking groups to shed light on changes made in MCSs to account for ESG issues. The analysis is based on 12 semi-structured interviews with managers from the sustainability and controls areas, as well as from other relevant operational areas particularly concerned with the integration process of ESG issues. Additionally, secondary data sources were used. The Malmi and Brown (2008) MCS framework, consisting of a package of five types of formal and informal control mechanisms, was used to structure and analyse the empirical data.

The examined banks widely implemented numerous changes to their MCSs as a response to the heightened sustainability pressures from regulatory bodies and stakeholders. In particular, with the exception of action planning, the results show an extensive integration of ESG issues into the five control mechanisms of Malmi and Brown’s framework, namely, long-term planning, cybernetic, reward/compensation, administrative and cultural controls.

By identifying the approaches banks followed in reconfiguring traditional MCSs, this research sheds light on how adequate MCSs can promote banks’ “sustainable behaviours”. The results can, thus, contribute to defining best practices on how MCSs can be redesigned to support the integration of ESG issues into the banks’ way of doing business.

Overall, the findings support the theoretical assertion that institutional pressures influence the design of banks’ MCSs, and that both formal and informal controls are necessary to ensure a real engagement towards sustainability. More specifically, this study reveals that MCSs, by encompassing both formal and informal controls, are central to enabling banks to appropriately understand, plan and control the transition towards business models fully oriented to the integration of ESG issues. Thereby, this allows banks to effectively respond to the increased stakeholder demands around ESG concerns.