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To have success in newly liberalized markets, firms must have a plan of action before resources are committed. What some companies do not realize is that their own entrepreneurial orientation (EO) will dictate their strategies, and performance outcomes, in both their home market and abroad. In order to maximize firm performance in newly liberalized markets (such as Cuba), firms must be able to objectively gauge their own EO. The paper aims to discuss these issues.

Within this framework, the present paper will attempt to effectively measure the EO of decision-making managers from US companies that have an interest in entering the Cuban market. A final sample of 81 US managers accepted to collaborate. They were then split into two groups (high and low EO; with 41 and 35 managers in each group, respectively) and compared regarding three variables: entry mode strategy, government affiliation strategy, and performance outcomes.

The results show that EO is related with performance, but not with the two proposed variables of entry mode and government affiliation.

In sum, the added value of the paper is to link US managers’ strategies and performance in a newly liberalized market which has been seldom studied: Cuba. The fields of entry mode strategies and government affiliation decisions in this newly liberalized market remain poorly investigated. Not all firms managed by highly entrepreneurial-orientated managers will decide to enter foreign markets and, on the contrary, domestic firms which are not interested in international markets can be run by highly entrepreneurial managers. This is due, in part, to the fact that internationalization can be driven by other factors. Therefore, this paper will attempt to demonstrate if certain entry modes will perform better than others when the foreign market is a newly liberalized economy. Additionally, the importance, and effect, of governmental relationships on performance outcomes will be tested within the research.

This paper aims to develop a credit-risk model in which firms face rollover risk, and the markets for defaulted assets are segmented due to entry costs. The paper shows that reducing the entry costs in this economy may decrease the total surplus of the economy. This outcome can arise because when market barriers are lifted, the gap between the liquidation prices across the markets will shrink, but then the market that would experience a price drop may face more bankruptcies because the rollover risk will increase in that market. The paper describes under which condition such an intervention policy improves or hurts the total surplus.

In this paper, the authors study the effect of consumers' fairness preferences on dynamic pricing strategies adopted by platforms in a non-cooperative game.

This study applies fair game and repeated game theory.

This study reveals that, in a one-shot game, if consumers have fairness preferences, dynamic prices will slightly decline. In a repeated game, dynamic prices will be reduced even when consumers do not have fairness preferences. When fairness preferences and repeated game are considered simultaneously, dynamic prices are most likely to be set at fair prices. The authors also discuss the effect of platforms' discounting factors, the consumers' income and alternative choices of consumption on the dynamic prices.

The study findings illustrate the importance of incorporating behavioral elements in understanding and designing the dynamic pricing strategies for platforms and the implications on social welfare in general.

The authors developed a theoretical model to incorporate consumers' fairness preference into the decision-making process of platforms when they design the dynamic pricing strategies.

The purpose of this study is to analyze the effects of the metaphor of verticality on how individuals assess prices, having regulatory focus as a moderator of this relationship.

Two experiments were conducted with a 2 × 2 between-subjects design (metaphor of verticality: physically higher vs physically lower × regulatory focus: promotion vs prevention). The second study performed moderated mediation by incorporating the self-esteem variable.

The results show that the treatment group consisting of prevention-focused individuals who consider themselves physically higher assessed prices according to what was proposed for the study compared to the group consisting of promotion-focused individuals who consider themselves physically lower. Participants in Treatment Group 1 attributed the lowest prices to products, demanded more significant discounts to go to another store searching for a product and considered the prices more unfair.

The primary contribution of this study is to reveal that the position of one's body on the vertical axis influences their thoughts and, therefore, their decision-making in the scope of products and services prices. Moreover, regulatory focus can attenuate such effects.

Parental leave in Sweden can be taken both as paid and unpaid leave and often parents mix these forms in a very flexible way. Therefore, multiple methodological issues arise regarding how to most accurately measure leave length. The purpose of this paper is to review the somewhat complex legislation and the possible ways of using parental leave before presenting a successful attempt of a more precise way of measuring leave lengths, including paid and unpaid days, for mothers and fathers.

The study makes use of administrative data for a complete cohort of parents of first born children in 2009 in Sweden. The authors examine what characteristics are associated with the use of paid and unpaid leave for mothers and fathers during the first two years of the child’s life, focusing particularly on how individual and household income is associated with leave patterns.

Among mothers, low income is associated with many paid leave days whereas middle income is associated with most unpaid days. High income mothers use a shorter leave. Among fathers it is the both ends with high and low household income that uses most paid and unpaid leave.

A measure that includes unpaid parental leave will be important to not underestimate the parental leave and to prevent faulty comparisons between groups by gender and by socioeconomic status.

A measure of parental leave including both paid and unpaid leave will also facilitate international comparisons of leave length.

The authors study how enabling perceptions (flexibility, reparability and internal and global transparency) of a budgetary control system are formed, and whether enabling perceptions empower lower-level managers and make them form less negative attitudes about red tape in the organization. This study research is warranted because of the lack of knowledge on how perceptual variation in flexibility, repairability and transparency of a control system within an organization, where managers experiencing the same control system design, can be explained.

Survey data with answers from 211 managers from a large local government organization in Sweden is analyzed with structural equation modeling.

The extent to which the budget system is perceived as having enabling qualities (being flexible, reparable and transparent) is explained by the safeness of the individual manager's psychological climate. This climate is characterized by trust and fairness perceptions in upper management. In turn, enabling perceptions positively affect a sense of psychological empowerment and reduces attitudes toward red tape in the organization.

The authors contribute by identifying an important factor explaining individual-level variability in enabling perceptions of control systems within organizations. Compared to previous research that has taken an interest in the organizational-level climate, the authors theorize about and investigate (parts of) the individual-level psychological climate as an explanation of within-system variability.

This study aims to examine the influence of internal and external factors on the credit risk (represented by nonperforming financing [NPF]) of Indonesian Sharīʿah rural banks (SRBs) – a type of Islamic bank that provides Islamic financial services especially to small and medium businesses in Indonesia. Internal variables comprise capital adequacy ratio (CAR), financing to deposit ratio (FDR), return on assets (ROA), operating expense ratio (OER), financing to value (FTV) and profit and loss sharing (PLS) financing ratio. External variables comprise inflation, economic growth and interest rate.

The study uses the annual reports of SRBs in Indonesia as secondary data for the years 2010–2019. Auto regressive distributed lag (ARDL) is used as the analysis method to examine the short-run and long-run relationships between the variables.

The findings indicate that four variables experienced a lag in the short run, namely, NPF, inflation, CAR and PLS, with different results recorded for each of the variables. Furthermore, the long-run results show that CAR and ROA influence the NPF of SRBs positively, whereas inflation and PLS have a negative influence on NPF. The rest of the variables – notably economic growth, interest rate, FDR, FTV and OER – do not have an influence on NPF in SRBs.

The level of NPF in SRBs exceeds the provision of the Central Bank of Indonesia. The findings are expected to have implications for SRBs and the regulator to consider and to manage the factors related to NPF properly due to the important role of SRBs in small and medium businesses’ development.

This study measures the determinants of NPF using internal and external variables, including the addition of a dummy variable, notably FTV. This study also uses ARDL to analyze the financial policies involving data at the present time and lagged time.

The traditional one-stage constant growth formula has two main underlying assumptions: a company will be able to maintain its competitive advantage for completed investments in perpetuity, and each year in the future, it will be able to generate new investment opportunities with the same competitive advantage, which will also remain in perpetuity. The purpose of this paper is to develop a model that limits the duration of the competitive advantage.

A new model is developed, and it is used to value a public company.

In this study, the author introduces an alternative formula considering the duration of the competitive advantage, imposing a restriction on the fact that extraordinary returns cannot be sustained forever, and also separates the part of the value explained by the current investments from the portion of value created by future investments.

The traditional one-stage constant growth model used to determine the continuing value of a company has limitations regarding the duration of the competitive advantage. The developed formula corrects the problem limiting the time extraordinary returns will remain over time.

While most efforts to combat climate change are focussed on energy efficiency and substitution of fossil fuels, growth in the built environment remains largely unquestioned. Given the current climate emergency and increasing scarcity of global resources, it is imperative that we address this “blind spot” by finding ways to support required services with less resource consumption.

There is now long overdue recognition to greenhouse gas emissions “embodied” in the production of building materials and construction, and its importance in reaching targets of net zero carbon by 2050. However, there is a widespread belief that we can continue to “build big”, provided we incorporate energy saving measures and select “low carbon materials” – ignoring the fact that excessive volume and area of buildings may outweigh any carbon savings. This is especially the case with commercial real estate.

As the inception and planning phases of projects offer most potential for reduction in both operational and embodied carbon, we must turn our attention to previously overlooked options such as “build nothing” or “build less”. This involves challenging the root cause of the need, exploring alternative approaches to meet desired outcomes, and maximising the use of existing assets. If new build is required, this should be designed for adaptability, with increased stewardship, so the building stock of the future will be a more valuable and useable resource.

This points to the need for increased understanding and application of the principles of strategic asset management, hitherto largely ignored in sustainability circles, which emphasize a close alignment of assets with the services they support.

Arguably, as the built environment consumes more material resources and energy than any other sector, its future configuration may be critical to the future of people and the planet. In this regard, this paper seeks to break new ground for deeper exploration.

This study aims to propose a solution to accelerate financing support low carbon (circular economy) transition. The authors developed a sustainability governance (SGOV) model and a sustainability governance (SGOV) index as a proxy for the diffusion of sustainability innovation. This study investigates the effect of SGOV practices on profitability with the mediating role of operational efficiency.

The SGOV index consists of 32 and 122 sub-items, constructed using content analysis of annual and sustainability reports published by banks listed on the Indonesia Stock Exchange (IDX) from 2010 to 2020 (404 bank-year observations).

Banks are at a moderate level of sustainability innovation. They are prioritizing the balance aspects of financial, social and environmental. SGOV practice negatively affects profitability. However, operational efficiency plays a positive mediating role that is robust.

The measurement of the SGOV index uses criteria that have not been tested in previous studies. There is the potential subjectivity in interpreting qualitative data, although this has been minimized by cross-checking the analysis of five raters.

This study gives feedback for the Indonesia sustainable finance (SF) journey phase I to proceed into SF journey phase II.

The SGOV model can be applied in other industry sectors to know the readiness for entering low carbon (circular economy) transition.

The uniqueness of the scoring technique assuming a step-by-step innovation model to sustainable finance.