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Despite politicians sometimes playing an active agentic role in firms’ resource dependency and in the outcomes of corporate political activity (CPA), there is limited research on the supply-side dynamics of political markets and the contingent role of normative institutions. This study aims to examine the relationship between managerial regulatory engagement (MRE) − a type of CPA − and access to bank finance, and how this relationship is moderated by country-level religiosity and religion policy regime.

Using data from over 37,000 firms in 43 sub-Saharan African countries and drawing on resource dependency and institutional theories, the authors deploy robust and sophisticated statistical analyses to test their hypotheses.

This study finds that MRE has a positive impact on access to bank finance. This effect is stronger in countries with more formal religion restriction where morality does not inhibit politicians’ discriminatory behaviour. However, this effect is weakened in countries where high levels of religiosity and more formal religion support curtail amoral rent provision.

These findings shed light on how firms’ use of CPA to manage resource dependency is affected by the influence of institutional religiosity on the agency of politicians. This study offers important theoretical contributions to the literature and generate useful implications for managers and policymakers.

This study aims to investigate the relationship between political connections, financing decisions and cash holding.

Based on historical data from 181 active non-financial firms listed on Gulf Cooperation Council (GCC) Stock Exchange Markets during the period of 2009–2016, this study uses ordinary least squares and dynamic system-generalized method of moments to test the research hypotheses. The final data set comprises a total of 1,448 firm-year observations from ten major non-financial industry classifications.

This study finds a positive relationship between political connections and each of internal financing proxied by retained earnings ratio and external financing proxied by short- and long-term debt to total asset. The findings also show a positive relationship between political connections and cash holding.

The findings of the study provide a better understanding of the role of politically connected directors in financing decisions and cash holding in the GCC. Investors can consider the presence of royal family members in the board of directors when making investment decision. Policymakers are encouraged to develop more effective policies that encourage listed firms to provide information on the political positions of the board of directors, managers and major shareholders/owners of companies.

This study contributes to the literature by providing empirical evidence on the relationship between political connections and financing decisions by focusing on the GCC region. This study also highlights that boards in connected firms in the GCC have lower monitoring role owing to political interventions, and that connected firms face higher agency problems as they have weak governance and boards compared with non-connected firms.

With the continuous deepening of China's mixed-ownership reform, the participants in the reform have gradually expanded from state-owned enterprises to private enterprises. Whether state-owned equity participation in private enterprises can facilitate the development of environmental, social and governance (ESG) performance in private enterprises is a question that needs urgent examination. This study aims to investigate the impact of state-owned equity participation on the ESG performance of private enterprises.

Using Chinese listed companies as the research sample, this study uses econometric methods such as multiple regression to analyze the relationship between state-owned equity and the ESG performance of private enterprises. Additionally, it explores the underlying mechanisms and influencing factors of this relationship.

There is a significant inverted U-shaped relationship between state-owned equity and the ESG performance of private enterprises. Mechanism analysis reveals that resource effects and governance effects play a mediating role in this nonlinear relationship. Furthermore, the authors find that environmental regulation and managers' attention to the environment positively moderate the relationship between state-owned equity participation and ESG performance.

A reasonable equity structure is crucial for enhancing corporate ESG performance. Moderate state-owned equity participation helps to leverage resource integration and governance advantages, which will assist private enterprises in maximizing ESG performance and achieving sustainable development.

In advancing the process of mixed-ownership reform, the government should maintain an appropriate proportion of state-owned equity to avoid excessive intervention in enterprise decision-making. At the same time, it should ensure that enterprises can genuinely undertake their social and environmental responsibilities while pursuing economic benefits. This is of great significance for promoting sustainable economic and social development.

This study integrates state-owned equity, ESG and nonlinear relationships into a single research framework. It explores the internal mechanisms and influencing factors of their relationship, overcoming the limitations of previous studies and provides a new perspective for understanding the impact of state-owned equity on corporate ESG performance.

The present study investigated organizational resilience (OR) in the United Arab Emirates (UAE’s) energy sector to identify impactful technological and human variables and assess the hermeneutic effect of digital transformation on value co-creation and OR. The study also investigates the mediating role of value co-creation on a few covariates of OR.

The questionnaire was sent out to 311 professionals in the energy sector, all affiliated with governmental organizations, using quota sampling. A total of 206 collated responses corresponding to the tested variables regarding the influences of digital transformation, employee resilience, innovation readiness, cyber resilience and value co-creation on OR were analyzed using structural equation modeling. Accordingly, a model of eight constructs and their 27 indicators was tested.

Instituting flexibility and adaptability to technological advancements, as well as cyber resilience, was found to enhance digital transformation. The sense of self-efficacy of the professionals who participated in the study led them to develop innovation readiness and thus embrace creativity and encourage co-creation while maintaining collaborative efforts with customers and stakeholders. This mediated several technological and human variables, such as the importance of managers' understanding of customer needs, preferences and pain points, which involves actively seeking and valuing customer feedback to inform decision-making.

When iterative prototyping, continuous learning, and OR are integrated into an organization’s culture, they create a robust foundation for a customer-centric mindset. This mindset becomes ingrained in how employees approach their work and make purposeful decisions.

The present study drew empirical insights into OR in the UAE’s energy sector from a resource-based theory perspective. By identifying potential vulnerabilities and implementing appropriate mitigation measures, organizations can reduce the likelihood and impact of disruptions, which can ultimately help them maintain customer satisfaction and loyalty.

This paper aims to investigate the relationship between uncertainty and corporate cash holdings with the moderating role of political connections.

We employ fixed effects estimation on a panel dataset of 669 Vietnamese listed firms over the 2010–2020 period, with one- and two-way standard error clustering. We conduct various robustness tests, including two-stage least squares/instrumental variable and generalized method of moments regressions, alternative cash holding measure, and additional controls for macroeconomic conditions and ownership types.

The effect of uncertainty on cash holdings is weakened for firms with political connections relative to those without the connections. Although general firms depend on cash flows to adjust their cash holding behavior when uncertainty increases, our findings suggest that politically connected firms do not rely on internal cash flows to accumulate cash when confronted high uncertainty.

Our findings on the role of political connections in moderating the relationship between cash holding and economic policy uncertainty have practical implications for policymaking. Since political connections serve as a buffer for a firm’s liquidity, firms may want to seek those connections, which can, in turn, lead to increasing informal costs and unfair business environment.

This is the first study investigating the role of political connections to the nexus of cash, cash flow and uncertainty, providing novel evidence regarding the less dependence on internal cash flows to save cash by politically connected firms. Second, the paper enriches the literature on the motives of cash holdings by proposing a modified agency view in the context of weak investor protection. Therefore, our findings strengthen the explanation for the positive effect of uncertainty on firms’ cash holdings in emerging markets.

Entrepreneurship of universities has a critical role due to its important effects. However, there is a significant gap in the literature regarding the methodology for evaluating university entrepreneurship. Evaluating university entrepreneurship provides valuable information to policymakers and governments. This research presents an evaluation methodology for assessing university entrepreneurship using a hybrid multi-criteria decision-making (MCDM) approach.

For this purpose, entrepreneurship data of 50 universities from Türkiye were used. The evaluation framework consists of 4 main criteria and 23 sub-criteria. The importance level was determined by weighting the main criterion and sub-criteria with the subjective Best-Worst Method (BWM) based on expert opinions and the objective CRiteria Importance Through Intercriteria Correlation (CRITIC) method. The importance levels were determined by weighting the main and sub-criteria using the subjective BWM based on expert opinions and the objective CRITIC method. The final rankings were obtained by integrating the different ranking values obtained with the Borda function.

Findings revealed that the most important main criterion in the entrepreneurship of universities is economic and social contribution activities, and the most important sub-criterion is international patents. The proposed method ranked all universities according to entrepreneurship. Sensitivity and validation analyses proved that the method is robust, stable and consistent.

This study also provides a new perspective to policymakers and decision-makers in evaluating university entrepreneurship.

This study, which uses a hybrid approach of MCDM methods to evaluate the entrepreneurship of universities, can be adapted to different national and regional higher education systems, and this study provides guidance to researchers in this regard.

This paper aims to contribute to the social aspect of corporate social responsibility literature by examining the influence of financial analysts’ spirituality on their socially responsible investing (SRI) decisions relating to a profitable organization, which is alleged by the media to employ children as laborers in hazardous works in Pakistan. This study also investigates whether analysts’ social consciousness mediates between their spirituality and investing decisions.

A scenario-based survey was administered to 124 financial analysts at leading financial institutions in Pakistan. Data were analyzed using regression, analysis of variance and mediation analysis on SPSS 26.

The findings demonstrate that financial analysts’ spirituality negatively influences their SRI decisions to invest in a profitable organization, which is alleged to employ children in hazardous work that may harm them physically and psychologically. The findings also express that analysts’ social consciousness intervenes in the association between analysts’ spirituality and SRI decisions.

The findings of this study may interest regulators, multinational firms and researchers in recognizing the importance of individuals’ values for increasing socially responsible investments and addressing social issues such as the exploitation of children.

This study encourages firms to recognize the importance of spiritual and socially conscious corporate conviction while designing strategies and policies. For example, the financial industry may incorporate fundamental personal values such as stewardship, dignity and fairness into its investment plans.

This study provides rigorous insights and contributes to contemporary studies by providing empirical evidence that individuals’ intrinsic values and consciousness drive their judgments.

This paper aims to identify the determining factors for the financial performance (FP) of social enterprises in an emerging country, in this case Brazil.

This paper identifies the determinants of the FP of social enterprises in Brazil using the resource-based view as a theoretical lenses and the quantitative method (n = 601) of logistic regression, analyzing the importance of nine variables related to SEs.

The findings refer to practical contributions (which show how SEs should focus and allocate their resources to maximize FP) and theoretical contributions linked to entrepreneurship literature (by differentiating the results of this work from the literature on commercial entrepreneurship in terms of resources), social entrepreneurship literature (by presenting the resources that determine their FP), business literature, entrepreneurial finance and entrepreneurship in emerging economies.

This work represents a novelty from a methodological point of view, filling the gap regarding the lack of studies that apply a quantitative methodology to a large sample and analyze several different variables when most studies analyze only one factor related to the performance of an organization. It also fills the gap in entrepreneurship studies that use some theoretical lenses. This work is also a pioneer in analyzing the variables involved, such as market orientation, technologies and impact measurement in social entrepreneurship. As this work uses data from a secondary sample, there is the limitation of not choosing the analyzed variables. Even though there were many variables in the sample, it was impossible to consider some variables, referring to various aspects of resources and performance. For this same reason, the social performance of SEs, which is of fundamental importance within the objectives of any organization of this type, was not analyzed and may be a suggestion for future work.

The purpose of this paper is to assess the hydrogen embrittlement sensitivity of carbon gradient heterostructure materials and to verify the reliability of the scratch method.

The surface-modified layer of 18CrNiMo7-6 alloy steel was delaminated to study its hydrogen embrittlement characteristics via hydrogen permeation, electrochemical hydrogen charging and scratch experiments.

The results showed that the diffusion coefficients of hydrogen in the surface and matrix layers are 3.28 × 10⁻⁷ and 16.67 × 10⁻⁷ cm²/s, respectively. The diffusible-hydrogen concentration of the material increases with increasing hydrogen-charging current density. For a given hydrogen-charging current density, the diffusible-hydrogen concentration gradually decreases with increasing depth in the surface-modified layer. Fracture toughness decreases with increasing diffusible-hydrogen concentration, so the susceptibility to hydrogen embrittlement decreases with increasing depth in the surface-modified layer.

The reliability of the scratch method in evaluating the fracture toughness of the surface-modified layer material is verified. An empirical formula is given for fracture toughness as a function of diffused-hydrogen concentration.

This study aims to investigate the indirect impact of work-to-family conflict (WFC) on job satisfaction and reparative behaviors toward family members through work-to-family guilt (WFG). In addition, it seeks to explore the moderating effect of intrinsic motivation on the relationship between WFC and WFG.

The authors conducted two studies. Study 1 used a scenario-based experiment to investigate the mediating effect of WFG. Study 2 examined all the proposed hypotheses via survey data.

Study 1 revealed that WFC had a negative effect on job satisfaction. Concurrently, it exerted a positive impact on reparative behavioral intentions toward family members through WFG. Subsequently, Study 2 demonstrated that intrinsic motivation moderated the relationship between WFC and guilt. Furthermore, it also moderated the indirect effect of WFC on job satisfaction through WFG. Moreover, a positive relationship between WFG and reparative behaviors existed only among nontraditional men.

This study enriches existing literature on WFG by clarifying its impact on reparative behaviors toward family members. Moreover, it contributes to the contingent view of the source attribution perspective by highlighting intrinsic motivation as a significant boundary condition in the source attribution process.