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We examine yield spreads, defined as the difference between the yield to maturity of the risky bank bond and that of a risk-free bond with similar maturity and other characteristics, after controlling for market, liquidity and tax factors. We use senior bonds issued by banks since one of the goals of the Dodd–Frank Act (DFA) is to reduce the possibility of a full-fledged bailout of banks. If markets do not believe that banks will be bailed out, senior bondholders will bear a higher exposure to default risks, and such risk perceptions will be reflected in the yield spread levels.

We use generalized method of moments (GMM) for parameter estimation with standard errors corrected for autocorrelation and heteroskedasticity using the Newey–West (1987) procedure with five lags.

Our results indicate a discount of 133 basis points in yield spreads due to the TBTF or too-big-to-fail factor prior to the DFA. However, the market charges a net premium of 36 basis points for the TBTF factor immediately after the DFA (a total change of 169 basis points). We examine commercial banks and noncommercial banks (primarily investment banks and insurance firms) separately. For commercial banks, the discounts observed prior to the DFA changes to a premium after the DFA. For investment banks, the higher premium charged prior to the DFA is reduced after the DFA.

Not all banks issue bonds and not all issued bonds trade in the secondary market frequently.

After the Great Recession, there is a sustained effort across the globe, to remove the possibility of a bailout of very large banks. With systemic risk monitoring, improved capital regulation, stress testing and other regulations on banks and other shadow banking organizations, the question of whether market perceives implicit guarantee of very large financial institutions. We have examined a new security that is not treated as capital.

If taxpayer bailouts are avoided, such resources can be used for other developmental purposes. The moral hazard problems of bank manager are also reduced.

We are the first to exclusively examine the senior bonds issued by banks around the enactment of the DFA, 2010.

This study developed a theoretical model to test the relationship between digital capability and Industry 4.0 (I4.0) and its effect on innovation performance in small and medium-sized enterprises (SMEs).

The proposed theoretical model was evaluated using partial least-squares structural equation modeling and fuzzy-set qualitative comparative analysis. The data were obtained from a sample of 536 SMEs in Chile.

The proposed model presented two dimensions of digital capability: management and information and communication technologies (ICTs). Management models composed of enterprise resource planning and customer relationship management systems are essential for optimizing organizational management. Meanwhile, ICTs facilitate the smooth flow of information within an organization, leading to improved efficiency in production processes. I4.0 is encouraged by exposing SMEs to base technologies such as data analytics. These results confirm that I4.0 influences innovation performance.

SME managers should encourage the development of digital capabilities to transition toward I4.0, as this can make SMEs more competitive and innovative in changing and dynamic scenarios.

I4.0 adoption and the development of digital capabilities can directly affect employment and national economic growth.

Most studies focus on the organizational factors affecting SMEs’ I4.0 adoption. They do not, however, address the role played by current digital capability in I4.0 technology adoption and its effect on firms’ innovation performance.

Este estudio desarrolló un modelo teórico para probar la relación entre la capacidad digital y la Industria 4.0 (I4.0) y su efecto en el desempeño de la innovación en pequeñas y medianas empresas (PYME).

El modelo teórico propuesto se evaluó mediante el uso de modelos de ecuaciones estructurales de mínimos cuadrados parciales y análisis comparativo cualitativo de conjuntos difusos. Los datos se obtuvieron de una muestra de 536 pymes de Chile.

El modelo propuesto presenta dos dimensiones de la capacidad digital: la gestión y las tecnologías de la información y la comunicación (TIC). Los modelos de gestión compuestos por sistemas de planificación de recursos empresariales y de gestión de relaciones con los clientes son esenciales para optimizar la gestión organizacional. Por su parte, las TIC facilitan el flujo fluido de información dentro de una organización, lo que conduce a una mejora de la eficiencia en los procesos de producción. La I4.0 se fomenta exponiendo a las PYME a tecnologías de base como el análisis de datos. Estos resultados confirman que la I4.0 influye en el rendimiento de la innovación.

La mayoría de los estudios se centran en los factores organizativos que afectan a la adopción de la I4.0 por parte de las pymes, pero no abordan el papel que desempeña la capacidad digital actual en la adopción de la tecnología I4.0 y su efecto en el desempeño innovador de las empresas.

Los gestores de las PYMES deben incentivar el desarrollo de capacidades digitales para realizar la transición hacia la I4.0, ya que esto puede hacer que las PYMES sean más competitivas e innovadoras en escenarios cambiantes y dinámicos.

La adopción de la I4.0 y el desarrollo de capacidades digitales pueden afectar directamente al empleo y al crecimiento económico nacional.

The research aims to explore the dynamic relationship between digital service innovation (DSI), artificial intelligence (AI) and business performance (BPer) in service-based models with a focus on how AI-enhanced insights from service use and customer feedback can strengthen business strategies. The aims are to show that DSI and AI are key to driving growth and efficiency in the digital economy and to underscore AI’s role in utilizing contextual data to improve decision-making and business outcomes.

The study uses general structural equation modeling to analyze Spanish manufacturing firms, focusing on medium-sized enterprises and including both business-to-business and business-to-consumer orientations. Data are drawn from the Iberian Balance Analysis System [Sistema de Análisis de Balances Ibéricos (SABI)] database, complemented by a Qualtrics survey to assess the integration of AI in decision-making processes. The methodology is designed to evaluate the interplay between DSI, AI and BPer, with the aim of identifying actionable insights for service-based business orientations.

The study clarifies the relationships between DSI, AI and BPer, providing new theoretical and empirical insights. The findings confirm DSI's direct positive impact on performance and suggest AI’s nuanced mediating role, emphasizing the need for strategic DSI-AI integration in manufacturing firms for enhanced performance.

The research explains the synergistic bond between DSI and AI in boosting BPer and discovering how by-product data can be transformed into strategic insights.

This study advises manufacturing sector leaders to integrate DSI and AI for enhanced performance and competitive advantage, emphasizing the value of high-quality, contextual data for AI learning and decision-making.

Researchers will observe that the study confirms the positive impact of DSI on BPer, while also highlighting the significant role of AI in enhancing this effect.

Learning capability improves knowledge resources fosters innovative capabilities and firm competitiveness. The study aims to examine the human resource management (HRM) practice and employee creativity relationship using organizational learning capability (OLC) as a mediating variable.

Data were collected from 67 small-sized and 96 medium-sized firms. Confirmatory factor analysis was applied to establish construct validity and reliability. Structural equation modeling was used to evaluate the proposed model and hypotheses.

The results show that performance appraisal and employee creativity were positively related. Employee participation and employee creativity were positively related. Compensation and employee creativity were nonsignificantly related. OLC mediates the performance appraisal and employee creativity relationship. Similarly, OLC mediates the employee participation and employee creativity relationship. However, OLC did not mediate the compensation and employee creativity relationship.

Due to the research’s SME focus and cross-sectional data, the finding’s generalizability will be constrained.

The findings of the study would be useful to policymakers, stakeholders and management of SMEs in developing a supportive learning climate that promotes experiential and continuous learning cultures to ensure strategic capabilities, sustainable competitive advantage and innovativeness.

The study contributes to the extant literature on OLC, HRM practices and employee creativity by empirically evidencing that OLC mediates the performance appraisal, employee participation and employee creativity relationship.

The study aims to explore dynamic capabilities such as innovation, entrepreneurial leadership, absorptive capability, and the dimension of entrepreneurial orientation in the handicraft sector to enhance supply chain resilience and innovation during unprecedented times. This study also used innovation as a mediating construct and supply chain orientation as a moderating construct.

We gathered data from the handicraft sector in the Uttar Pradesh (UP) in India using a pretested questionnaire. We used variance-based partial least squares structural equation modelling (PLS-SEM) to test our research hypotheses.

Our study indicates that to enhance innovation and improve supply chain resilience, firms should focus on developing dynamic capabilities such as entrepreneurial leadership, absorptive capacity, artificial intelligence (AI), innovativeness, risk-taking ability, and protectiveness. The study highlights the significant role of dynamic capabilities in the handicraft sector during times of crisis, enabling innovation and resilience to risk.

The study highlights the significant role of dynamic capabilities in the handicraft sector during times of crisis, enabling innovation and resilience to risk.

This study provides significant insights into the current understanding of dynamic capability theory and supply chain orientation and expands upon the existing literature in this field. It comprehensively analyses the latest research and advances knowledge in this area.

Organizations are continually improving their practices to improve operational performance. They already employ Lean Manufacturing techniques (LM) to reduce unnecessary waste. Industry 4.0 techniques enhance operational performance in association with LM. Despite the proven benefits of LM principles and the advancements offered by Industry 4.0 technologies, many organizations struggle to integrate these approaches effectively. This research paper explores how LM principles can be combined with Industry 4.0 technologies to provide valuable guidance for businesses looking to adopt lean automation strategies.

A systematic literature review on LM and Industry 4.0 was done to investigate the possible technical integration of both methods. Ninety-two articles are extracted systematically from the Scopus and Web of Science databases. This study states a systematic literature review, including quantitative analysis of bibliographic networks and cluster analysis, to identify emergent ideas and their further implementation.

The research findings highlight the positive impact of integrating lean production with Industry 4.0 techniques, benefiting organizations in achieving their goals. A lean automation integration framework is proposed based on the literature review and the findings.

This study provides industry administrators and practitioners valuable guidance for enhancing organizational productivity. These implications can provide businesses with competitive advantages, enhance customer satisfaction, and enable them to adapt to the dynamic demands of the contemporary business environment.

This literature review study has substantially contributed to the technological integration of lean and Industry 4.0. The work has also identified potential emerging areas that warrant further research.

Manufacturing systems have undergone radical changes because of the implementation of physical and digital innovating technologies with high levels of connectivity, interoperability and autonomy. In this regard, the objective of this study was to investigate whether industrial engineers graduated in recent years in Brazil are prepared or not to work in companies and industries within the scope of Industry 4.0 technologies in a way that they positively contribute to the implementation and management of such technologies.

To achieve these objectives, a literature review and a survey on managers of the industrial sector acting in Brazil were carried out as the research strategies. The data collected were analyzed through a quantitative approach by means of the structural equations modeling method.

The hypothesis that the competencies of industrial engineers currently graduating in Brazil have a positive impact on the implementation and management of Industry 4.0 technologies has been confirmed. Predicting the evolution of production scenarios, understanding the interaction between organizations and their impacts on competitiveness and keeping abreast of technological advancements, organizing them and putting them to the service of business and societal demands were the competencies that obtained the highest factor loadings in the construct of industrial engineer competencies. In addition, cloud manufacturing, automation and robotization were the competencies that obtained the highest factor loadings in the industry 4.0 construct.

The analysis of skills development stands out as a source of competitive advantage for companies that intend to transition to a production system aligned with the principles of Industry 4.0, considering the training of professionals in an emerging economy context.

The purpose of this study is to perform bibliometric analysis to systematically and comprehensively examine the current landscape of digital knowledge, integration and performance in the transformation of sustainability accounting, reporting and assurance.

This research uses a systematic literature review, following the Scientific Procedures and Rationales for Systematic Literature Review protocol and uses various bibliometric and performance analytical methods. These include annual scientific production analysis, journal analysis, keyword cooccurrence analysis, keyword clustering, knowledge gap analysis and future research direction identification to evaluate the existing literature thoroughly.

The analysis reveals significant insights into the transformative impact of digital technologies on sustainability practices. Annual scientific production and journal analyses highlight key contributors to the adoption of digital technologies in sustainability accounting, reporting and assurance. Keyword cooccurrence analyses have identified key themes in sustainability accounting, reporting and assurance, highlighting the transformative role of digital technologies such as artificial intelligence (AI), blockchain, Internet of Things (IoT) and big data. These technologies enhance corporate accountability, transparency and sustainability by automating processes and improving data accuracy. The integration of these technologies supports environmental, social and governance (ESG) reporting, circular economy initiatives and strategic decision-making, fostering economic, social and environmental sustainability. Cluster-by-coupling analyses delve into nine broader revealing that IoT improves ESG report accuracy, eXtensible Business Reporting Language structures ESG data and AI enhances life cycle assessments and reporting authenticity. In addition, digital transformation impacts environmental performance, big data optimizes resource use and edge computing improves eco-efficiency. Furthermore, this study identifies avenues for future research to advance the understanding and implementation of digital technology in sustainability accounting, reporting and assurance practices.

Academically, this research enriches the understanding of how digital technologies shape sustainability practices and identifies gaps in digital knowledge and integration. Practically, it provides actionable insights for organizations to improve sustainability reporting and performance by effectively leveraging these technologies. Policy-wise, the findings advocate for frameworks supporting the effective implementation of these technologies, ensuring alignment with global sustainability goals.

This study offers a detailed analysis of the performance and intellectual framework of research on implementing digital technology in sustainability accounting, reporting and assurance. It highlights the evolving research landscape and emphasizes the need for further investigation into how emerging technologies can be leveraged to achieve sustainability goals.

This study aims to analyze the mediating role that green practices (GPs) and green technologies (GTs) play in the relationship between lean manufacturing (LM) and industrial performance (IP). It is suggested that GPs and GTs are crucial for transforming lean routines into enhanced performance that simultaneously meet current environmental requirements.

The hypotheses are tested using a mixed methodology, which includes a partial least squares structural equation modeling approach and a fuzzy-set qualitative comparative analysis (fsQCA) applied to a multisectoral sample from three European countries (Spain, Sweden and Croatia).

The results confirm that GPs mediate the relationship between LM and IP; however, in the case of GTs, this mediation does not appear to occur, although GTs emerge as a peripheral condition in the subsequent fsQCA. These findings highlight the need to avoid an exclusively technocentric approach and underscore the importance of implementing green organizational practices alongside technology investments to achieve successful lean initiatives.

It seems clear that managers should apply GPs, combined with LM, to improve sustainability and efficiency and should apply GTs once a more mature lean-green culture has been established.

In recent years, the scientific community has increasingly focused on the impact of implementing GPs and GTs on IP within LM plants. However, to the authors’ knowledge, no study has yet analyzed the combined effect of both initiatives. This paper seeks to address this gap by examining, in aggregate, the moderating effect of GPs and GTs on IP in LM plants.

This paper explores the relationship between digitalization and green supply chain (GSC) activities in the manufacturing industry, using Huawei as a case study.

A qualitative case study approach was employed, involving in-depth interviews, document analysis and direct observations. Data were analyzed using thematic coding aligned with the resource-based view (RBV) framework.

The study identifies three key digitalization capabilities – governance, value creation and connection – that enable sustainable practices through mechanisms such as perceptive, decision-making, and responsive processes. These capabilities facilitate GSC activities by enhancing operational efficiency, resource optimization and stakeholder collaboration.

This research contributes to the understanding of how digitalization enables sustainable practices in manufacturing. It offers a conceptual framework and empirical evidence that bridge theory and practice, with implications for organizations, policymakers and society.