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Blockchain is a distributed ledger technology that uses cryptography to ensure transmission and access security, which provides solutions to numerous challenges to complex supply networks. The purpose of this paper is to empirically test the impact of blockchain implementation on shareholder value varying from internal and external complexity from the complex adaptive systems (CASs) perspective. It further explores how business diversification, supply chain (SC) concentration and environmental complexity affect the relationship between blockchain implementation and shareholder value.

Based on 138 blockchain implementation announcements of listed companies on the Chinese A-share stock market, the authors use event study methodology to evaluate the impact of blockchain implementation on shareholder value.

The results show that blockchain implementation has a positive impact on shareholder value, and this impact will be moderated by business diversification, SC concentration and environmental complexity. In addition, environmental complexity exerts a moderating effect on SC concentration. In the post hoc analysis, the authors further explore the impact of blockchain implementation on long-term operational performance.

This is the first research empirically examining the effect of blockchain implementation on shareholder value varying from internal and external complexity from the CASs perspective. This paper provides evidence of the different effects of blockchain implementation on short- and long-term performance. It adds to the interdisciplinary research of information systems (IS) and operations management (OM).

Pandemics are frequent events, and the impact of each pandemic makes a strong and long-term effect on companies and markets. Given the potential impact of the COVID-19 pandemic, it is important to investigate the crisis from a different perspective to know how companies have sustained growth in markets. The purpose of this paper is to understand how profit-oriented customer-centric companies (small, medium and large) have responded and adapted to COVID-19 crisis, using the complexity theory.

Drawing upon the complexity theory, a humble attempt is made to develop theoretical propositions by conceptualizing companies as complex adaptive systems. The paper examines companies from three dimensions (i.e. internal mechanism, environment and coevolution).

Companies self-organize, emerge into new states and become adaptive to the changing environment. Companies create knowledge to understand the dynamic anatomy and design survival and growth strategies during and post COVID-19 era. Complex adaptive systems perspective provides companies with insights to deal with complex issues raised due to COVID-19 pandemic. They can handle the impact of pandemic efficiently with complex adaptive systems by developing and implementing appropriate strategies post-COVID-19.

The study reveals how companies evolve and emerge into as complex adaptive systems to adapt themselves to the highly dynamic environment, which are uncertain, unpredictable, nonlinear and multifaceted, in the context of COVID-19. Implications for theory and practice of viewing companies as complex adaptive systems and coevolving structures in the COVID-19 context are discussed.

This study aims to examine the underlying mechanisms through which entrepreneurial marketing (EM) promotes the development of a favorable brand image and enhances sales growth and market share in new ventures (NVs).

The authors tested the theoretical model using a multi-informant design in which survey data were collected from NV entrepreneurs and marketing managers. Hypotheses were tested using linear regression and PROCESS analysis.

The authors demonstrate the significance of EM as comprising two NV capabilities – first, the level of complementarity between entrepreneurial orientation (EO) and market orientation (MO) as a dynamic capability, and second, brand management capabilities (BMCs) as an operational capability – in shaping a favorable NV brand image and promoting market performance.

The authors offer a novel perspective by demonstrating that EO and MO yield complementarities in driving NVs’ BMCs, which, in turn, drive brand image development and market performance for NVs. In doing so, the authors demonstrate novel theoretical implications for the relevance of EM to NV branding, which, to date, has received scant attention in the literature.

The authors identify a potential avenue for entrepreneurs and NV managers to mitigate the potential failure rates by simultaneously pursuing a higher level of EO and MO and investing in brand-building activities. Such efforts can help enhance brand image, drive sales growth and foster long-term success.

To the best of the authors’ knowledge, this study is the first to include brand capabilities as an element of EM, examine EM in NV brand image development and identify the role of EM capabilities relevant to NV brand building and market performance simultaneously.

Literature concerning the linkages between entrepreneurial orientation (EO) and firm performance (FP) has been growing in tourism research. However, the linkage's relevance to new venture travel intermediaries remains vague. This study proposes a model that helps researchers and practitioners understand how EO translates into new venture FP through two strategic perspectives of value creation, i.e. firm value (FV) and customer perceived value (CPV).

The study tests this framework using structural equation modeling on a matched dyadic sample of 127 new venture firms belonging to the Indian travel industry.

The results posit that FV and CPV partially mediate the relationship between EO and new venture FP. The study advances the existing knowledge on the link between EO and FP and provides insights into how EO can enhance FV and CPV which ultimately enhances FP.

This work is the first to extend and integrate the idea of FV and CPV to entrepreneurship and new venture performance literature. By considering the two strategic aspects of value creation, i.e. FV and CPV, the paper presents a holistic view of value creation through EO.

This study aims to examine the effect of Muslim consumers’ religiosity on their brand verdict regarding clothing brands, through the mediating role of decision-making style, brand status and brand attitude.

Structural equation modeling was used to analyze the data collected from 200 clothing buyers in Mashhad, one of Iran’s religious cities.

The results indicate that intrapersonal religiosity, compared to interpersonal religiosity, has a more significant effect on Muslim consumers’ decision-making styles, and different decision-making styles of Muslim consumers affect their brand verdict through brand status and brand attitude.

The research sample consists solely of respondents from the Islamic religion. Therefore, the impact of religiosity might differ among individuals from other religions, such as Christianity and Judaism.

This study’s findings are crucial for clothing brands, both national and international, that cater to the Muslim customers’ market. They need to consider the degree of religiosity when segmenting and targeting their market. This study shows that clothing brand marketers can best influence the brand verdict of Muslim consumers by targeting those with a brand-loyal decision-making style, focusing on their religious beliefs.

To achieve success in Iran’s Muslim market, marketers must consider their consumers’ religious beliefs and tailor their marketing plans accordingly. This study aims to investigate the impact of religiosity on consumer behavior toward brands in Iran’s Muslim market.

Buying online has become a widespread and common activity for consumers, and, for many organizations, e-commerce has become a very profitable alternative to sell their products and services, also allowing them to leverage their strategy in new geographical markets immediately. Although the literature on the subject is comprehensive, there is a gap in identifying the holistic constructs that are the determinants of consumers' choice of an online store. This research resorts to an exploratory study, based on a nonsystematic literature review, seeking to identify these constructs. The results obtained allowed us to identify the following constructs: consumer behavior, customer experience, web content, catalog, terms and conditions, customer support, perceived value, trust, security and privacy, satisfaction, and loyalty. Customer experience, satisfaction, and loyalty constructs stand out from a strategic perspective.

This study investigates the association between corporate sustainability disclosures and firm performance and value.

This study collected data from 694 manufacturing companies operating in 34 countries between 2007 and 2019, yielding 6,181 firm-year observations. This study employs a dual-model framework to analyze the influence of environmental, social, and governance (ESG) performance on return on assets (ROA), return on equity (ROE), and Tobin's Q ratio. Two sets of control variables, firm- and country-specific, were incorporated to account for potential confounding factors. To validate the robustness of the findings, we utilized a battery of econometric techniques, including traditional ordinary least squares (OLS), firm-fixed effects, quantile regression, and instrumental variables-generalized method of moments (IV-GMM), applied to both the pooled and firm-fixed effects models.

The findings are contradictory: there is a negative relationship between sustainability disclosure and operating performance and return on equity, but a positive relationship between sustainability disclosure and firm value. The negative correlation is consistent with agency theory and the positive correlation is consistent with the legitimacy and shareholder theories. These results are robust to performance measures and estimation methods.

Short-term profit shouldn't deter sustainability. It boosts legitimacy, reputation, efficiency, and long-term market value. Investors must look beyond profitability ratios, embracing ESG metrics. Firms should see sustainability as strategic investment, not cost. Patience pays off: long-term gains await. Regulation can guide balanced growth, prioritizing both shareholders and societal well-being.

This study is the first to adopt a firm’s fixed-effect quantile regression, which provides deep insights into the role of sustainability disclosure in meeting stakeholders’ expectations.

This study aims to describe the development of hospitality research in terms of research methods and data sources used in the 2010s.

Content analyses of the research methods and data sources used in original hospitality research published in the 2010s in the Cornell Hospitality Quarterly (CQ), International Journal of Hospitality Management (IJHM), International Journal of Contemporary Hospitality Management (IJCHM), Journal of Hospitality and Tourism Research (JHTR) and International Hospitality Review (IHR) were conducted. It describes whether the time span, functional areas and geographic regions of data sources were related to the research methods and data sources.

Results from 2,759 original hospitality empirical articles showed that marketing research used various research methods and data sources. Most finance articles used archival data, while most human resources articles used survey designs with organizational data. In addition, only a small amount of research used data from Oceania, Africa and Latin America.

This study sheds some light on the development of hospitality research in terms of research method and data source usage. However, it only focused on five English-based journals from 2010–2019. Therefore, future studies may seek to understand the impact of the COVID-19 pandemic on research methods and data source usage in hospitality research.

This is the first study to examine five hospitality journals' research methods and data sources used in the last decade. It sheds light on the development of hospitality research in the previous decade and identifies new hospitality research avenues.

This study aims to investigate supply network (SN) resilience capabilities across the organizational, supply chain (SC) and industry levels by drawing on the complex adaptive systems (CASs) theory and the social–ecological perspective of resilience. An empirically grounded framework operationalizes the concept of social–ecological resilience by expounding resilience capabilities across phases of the CAS adaptive cycle.

This research uses a qualitative multiple case study approach. It draws on the case of the Australian Defence Manufacturing SN (ADM SN) during COVID-19 disruptions. A total of 28 interviews with senior decision makers from 17 companies, complemented by 5 interviews with the Australian Defence SC organizations and secondary data analysis, support the findings.

Individual organizations’ SC visibility and flexibility enabled by effective risk management and collaboration enhance the ability of the SN to anticipate and prepare for disruption. At the same time, the strength of SC relationships reduces resilience. SN disruption response velocity is enabled by inventory redundancy, process flexibility at the organizational level and visibility and collaboration at the SC level. Institutional support at the national industry level, development of value-adding capabilities and manufacturing process flexibility at the organizational level enhances the SN’s ability to re-organize. The transition from hierarchical to decentralized collaborative governance enhances SN resilience.

From a practitioner’s perspective, the findings highlight the need to embrace a broader view of SC beyond immediate tiers. Decision-makers in multinational companies must recognize the long-term impact of their procurement decisions on the supplier ecosystem. Developing local supplier capabilities rather than relying on established global SCs will pay off with future resilience. It, however, demands substantial investment and radical changes across all SC tiers. The lesson for smaller firms is not to over-rely on the existing relationships with supply partners. Although trust-based relationships and collaboration are essential, over-commitment can be counterproductive during global disruptions. With a lack of visibility and control over the SC, operational flexibility is critical for small firms to adapt to shifts in supply and demand.

To the best of the authors’ knowledge, this empirical research is one of the first attempts to operationalize the social–ecological perspective of SN resilience. Evidence-based theoretical propositions contribute to the emerging conversation about the CAS nature of resilience by demonstrating the multi-level effects of resilience capabilities.

This study aims to investigate how international entrepreneurial firms (IEFs) successfully commercialise innovative products/services internationally. In doing so, the authors examined the role played by the international dynamic marketing capability (IDMC) in the relationship between explorative and exploitative innovation and commercialisation. In addition, the authors also evaluated how the breadth and depth of international networks facilitate IEFs in upholding the effects of the IDMC to influence commercialisation.

To test the research model, structural equation modelling is used based on time-lagged survey data drawn from 201 Malaysian IEFs. To validate the results, additional robustness tests and endogeneity analyses have been performed.

The findings show that the IDMC positively mediates the relationship between explorative and exploitative innovation and commercialisation. Furthermore, the finding exhibits that the effects of the IDMC on commercialisation are positively moderated by the breadth and depth of international networks.

Given the fragmented and general nature of the extant marketing research on the IDMC, the study contributes to the international marketing literature by providing rich and nuanced pertinent knowledge. This study advances dynamic capability theory in relation to IEFs by establishing the IDMC as a functional capability suited to enable them to successfully commercialise the products/services resulting from explorative and exploitative innovation.