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This study explores the relationship between copreneurship, a unique type of start-up established by cohabiting couples and innovation risk propensity. There is a growing debate in research regarding whether copreneurships differ from other types of start-ups and whether they lead towards risky behaviours in the context of firm-level strategic decisions. Building on upper echelons theory and household decision-making theory, this study attempts to uncover how copreneurs’ risk propensity affects corporate innovation in successful enterprises.

Information on firms co-founded by cohabiting couples was manually collected from the prospectuses of Growth Enterprise Market (GEM)-listed family firms in China. Data from 306 family firms listed between 2009 and 2018 and zero-inflated Poisson regression were used to test the theoretical model. An instrumental variable approach was used to address endogeneity, and propensity score matching was applied for robustness testing.

The results indicate that copreneurships engage in more breakthrough innovation activities than other types of family firms after achieving entrepreneurial success (i.e. successfully completing an initial public offering [IPO]). This relationship is affected by characteristics of copreneurs at three levels, namely individual, household and firm: copreneurs’ educational background (master’s in business administration [MBA] education experience), household decision-making negotiations (copreneurs’ age difference) and firm decision-making autonomy (copreneurs’ duality), respectively. The evidence shows that an MBA education and duality within the firm increase the number of breakthrough innovations, whereas age difference has no significant influence.

This study provides a dynamic perspective on the role of copreneurs in the post-IPO phase, highlighting their intrinsically high risk propensity relative to other types of family firms and its relationship with firm-level innovation. It offers practical implications for policymakers, venture capitalists, educators and human resource managers in supporting copreneurial ventures.

Corporate social responsibility (CSR) has gained tremendous importance after several corporate scandals, financial crises and the rise of the hyper-competitive world. Firms must address multiple stakeholders’ interests to increase firm value. This study aims to investigate the effect of CSR on firm value. This study also examines the mediating role of enterprise risk management (ERM) and the moderating influence of corporate governance (CG) in this CSR-firm value relationship.

The sample of the study comprises 119 Pakistan Stock Exchange (PSX) listed firms and the study covers the period from 2010 to 2021. The corporate social responsibility performance has been quantified across five dimensions. These aspects are product, environment, employee relations, diversity and community. Four proxies i.e. strategy, operation, reporting and compliance, have been used to measure ERM. The governance quality of the sample companies was evaluated using the governance index, which included 29 governance provisions. The authors used the dynamic panel data technique (system-GMM) is used to achieve the objectives of the study. Furthermore, a firm’s engagement in CSR activities can also be measured through a multinational financial approach to check the robustness of the result.

Based on the regression analysis, the authors discovered that CSR was positively connected with firm value, validating the stakeholder view of CSR. Furthermore, following Baron and Kenny’s (1986) mediation technique, the findings confirm that ERM mediates this association. These results are robust by using the bootstrapping tests by Preacher and Hayes (2004). Furthermore, the result shows that corporate governance (CG) is positively connected with firm performance, and this relationship is strengthened in the presence of an effective governance system in the organization.

This study provides useful insights to regulators, investors and policymakers to consider CSR as a value-enhancing factor and encourage the development of enterprise risk management and compliance with CG mechanisms to improve firm value.

The presented analysis strengthens the existing CSR–firm value relationship by analyzing the mediating and moderating roles of ERM and CG, which have not yet been tested, particularly in the context of Pakistan.

There has been a burgeoning interest in exploring the impact of uncertainty factors on share returns. However, studies on the influence of global financial uncertainties on emerging market sectoral indices are scarce. Thus, there is a need to have a thorough investigation of the connection between global financial uncertainties and emerging market sectoral indices. To fill this gap, using the theoretical framework of international portfolio diversification (IPD) and utilizing data from 2008 to 2021, this study examines the spillover connection between global uncertainty indices (GUIs) and leading sectoral indices of 28 emerging markets.

The authors employ the quantile spillover-based connectedness approach and minimum connectedness portfolio approach to explore the dynamic connectedness among sectoral indices and global uncertainty indices (GUIs) as well as portfolio implication.

The study found high connectedness among all indices, especially at higher and lower quantiles. Among GUIs, the authors find that stock market volatility (VIX) and oil volatility index (OVX) are strongly interconnected with all leading emerging markets' sectoral indices. Among sectoral indices, the linkage between the financial (F-Index), information technology (IT-Index), and consumer discretionary (CD-Index) sectors shows moderate interconnectedness. In contrast, the communication services (CS-Index) sector has low interconnectedness with the system. In terms of spillover effects, the authors find EVZ, OVX, and the IT sectors to be net recipients for the entire period. The authors also explored portfolio diversification benefits by employing a minimum connectedness portfolio approach. The cumulative returns' findings show a slight decline in the portfolio's value after 2010; during 2012, the pattern remained stable; from 2014 to 2020, the portfolio performed negatively, that is, underperformance due to different events in that period, including COVID-19. The Consumer Discretionary sector is found to be significant because of having the largest weight, 51%, in the portfolio during the study period.

The study suggests that investors should invest in the communication services sector as it is the least connected. However, the connectedness increases during COVID-19, which implies that it may be difficult for investors to benefit from IPD in a crisis period. Hence, to obtain the benefits from IPD, the evidence suggests that investors need to consider Consumer Discretionary sector while considering assets for investment.

The study's uniqueness is that the authors have investigated spillover between GUIs and 28 emerging markets sectoral indices by employing a quantile spillover-based connectedness approach and minimum connectedness portfolio approach with a special focus on portfolio implication.

Drawing on the reciprocity principle of social exchange theory situated within Service-dominant Logic, this study aims to examine how customers’ perception of knowledge sharing in co-production, their inherent scepticism and prosocial orientation relate to their willingness to co-create and provide feedback on services. The authors also explored the interplay between these factors to identify conditions in configurations comprising scepticism, which may help navigate its adverse effects.

The authors surveyed 556 online and offline mobile payment service users. They used a combination of partial least squares structural equation modelling (PLS-SEM) to assess the relationships among variables, and fuzzy-set qualitative comparative analysis (fsQCA) to identify configurations associated with feedback behaviour.

The study determined that customer perception of co-production knowledge sharing is positively associated with willingness to co-create and feedback behaviour. Additionally, prosocial orientation positively affects this relationship, while scepticism has an adverse effect. Willingness to co-create mediates the relationship between customer perception of co-production knowledge sharing and feedback behaviour. The fsQCA findings revealed configurations for potentially navigating doubts regarding feedback. To encourage valuable customer feedback, businesses may consider promoting a collaborative and supportive atmosphere, emphasising shared advantages or building trust even among hesitant and doubtful individuals.

This study uniquely examines how both prosocial tendencies and scepticism relate to customer feedback behaviour in co-creation by using a hybrid PLS-SEM/fsQCA approach to identify co-existing conditions in configurations comprising scepticism that may help navigate its adverse effects and leverage customer feedback for business improvement.

The extensive use of mobile money (MM) has been widely recognized as a digital engine of socioeconomic development in sub-Saharan Africa (SSA). This paper aims to focus on the effects of MM use and stockouts on informal microenterprise performance and investigate whether MM use mitigates the relationship between stockouts and firm performance.

This study utilizes firm-level data from the latest World Bank Informal Sector Enterprise Surveys across six SSA countries. We employ instrumental variable-adjusted and propensity score-weighted regressions to investigate the buffering effect of MM use.

We find a significantly positive effect of MM use and a significantly negative impact of stockouts on informal microenterprise performance. Importantly, we establish that MM use attenuates the negative impact of stockouts on firm performance. We further document that the attenuating effect of MM use is more profound for firms using MM for transactions with supply chain partners, located in communities with high MM use rates, and operating in the retail industry.

Our research generates important managerial and policy implications. Future policies should capitalize on MM to foster an effective financial ecosystem in which informal microenterprises can survive and grow, thereby deepening their contributions to sustainable development.

Whereas the business benefits of MM among small, medium and large firms are well-documented, the role of MM use on informal microenterprise performance is less understood. This study fills the research gap in the literature by focusing on the influence of MM use on the relationships between informal microenterprise operations and performance.