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This study aims to investigate the impact of facial-based perceived trustworthiness on stock valuation, particularly, in the initial public offering (IPO). IPO settings provide the opportunity to investigate whether information asymmetry resulting from company newness in the market would influence the incorporation of soft information in the form of executive facial trustworthiness in stock valuation.

We use a recent machine learning algorithm to detect facial landmarks and then calculate a composite facial trustworthiness measure using several facial features that have previously been observed in neuroscience and psychological studies to be the most determining factor of perceived trustworthiness. We then regress the facial trustworthiness of IPO firm executives to IPO underpricing.

Utilizing machine learning algorithms, we find that the facial trustworthiness of the company executive negatively impacts the extent of IPO underpricing. This result implies that investors incorporate the facial trustworthiness of company executives into stock valuation. The IPO underpricing also shows that the cost of equity is higher when perceived trustworthiness is low. With regard to the higher information asymmetry in IPO transactions, such a negative impact implies the role of facial trustworthiness in alleviating information asymmetry.

This study provides evidence of the impact of top management personal characteristics on firms’ financial transactions in the Indonesian context. From the perspective of investors and other fund providers, this study shows evidence that heuristics still play an important role in financial decision-making. This is also an indication of investor reliance on soft information. Our research method also provides a new opportunity for the use of machine-learning algorithms in processing non-conventional types of data in finance research, which is still relatively rare in emerging markets like Indonesia. To the best of our knowledge, our study is the first to use personalized measures of trust generated through machine-learning algorithms in IPO settings in Indonesia.

Considering the size and intricate nature of defense supply chains (DSC), there exists a need for a conceptual understanding regarding the precise dynamics of collaboration among the various participants engaged in these chains. This paper seeks to address the gap by investigating the practices that enable or inhibit collaborations and the development of new competencies to effectively employ a flexible response to temporary or more sustained surges in demand. Ultimately, the study aims to develop a theoretical framework relevant to the practical implementation and scholarly examination of contemporary military supply chains.

Semi-structured interviews were conducted with 51 DSC professionals in 7 embedded cases within an enterprise framework. The resulting transcripts were analyzed using constructs and concepts from a supply chain logistics (SC/L) literature analysis and synthesis relevant to our research purpose. Finally, the results were validated by an industry focus group with 12 participants representing the government, military, industry, and academia.

This research produced empirical generalizations that provide in-depth and systematic exploratory insights into collaboration’s meaning and characteristics within the DSC context. This study culminates by introducing a conceptual model and definition of defense supply chain collaboration (DSCC) and concludes by proposing future research directions.

This study makes a novel and empirical contribution to the SC/L body of knowledge by investigating embedded cases through unique access to informants within an enterprise framework that focuses on the antecedent influencing factors of collaboration within the contextual domain of the DSC and positions a future research agenda.

While the entrepreneurship literature historically supported the idea that the center and finality of the research is the entrepreneur or the entrepreneurial firm, current developments highlight the importance of the context in which the entrepreneur or the entrepreneurial firm operates. This modern view challenges how the entrepreneurship field has been evolved and illustrates the transformation of the research that calls for an accurate overview of where the entrepreneurship field is going. This chapter aims at providing the historical evolution of the field of entrepreneurship by highlighting the state of the art, the main theories, the research gaps, the trends, the current research discussion, and where the field of entrepreneurship is going. Thanks to this historical view, scholars could learn of the origins of the field, how the research discussion has been evolved and how some popular trends appear or disappear and therefore find some research directions and a future research agenda for the future of entrepreneurship.

Agrifood platforms are now part of consumption habits. They have emerged in various forms, and we need to describe this diversity to understand better how platforms manage their relationships with farmers. We aim to understand the governance forms of agrifood platforms and consider whether they comply with the principles of transaction cost economics (TCE).

Based on a survey of 103 French platform managers, a two-step cluster analysis and ordered logit regressions were applied to test hypotheses derived from the theory.

The results enable us to propose a refined typology of eight governance forms for the farmer-platform relationship. These different forms can be classified according to a continuum ranging from “market to hierarchy”, conforming to TCE principles. We define a gradient describing how the platforms manage their relations with the farmers through contractual and relational control. We show that specific assets, behavioural uncertainty, and membership in a platform network are associated with more integrated governance forms.

The article describes the different forms of platform governance and their relevance to market conditions. This clarification is necessary for farmers to elect the more suitable platform and for platform managers to create a new business or improve its efficiency.

This article is the first to offer a detailed typology of agrifood platform governance. It highlights these governance characteristics and their relationship with transaction attributes.

The rapid, yet low-profit, expansion of the production capacity of state-owned enterprises (SOEs) represents a remarkable phenomenon. However, the motivation behind this key operational decision remains underexplored, especially concerning the prioritization of sociopolitical and financial goals in operations management. Drawing on the multiple-goal model in the behavioral theory of the firm (BTOF), the authors' study aims to examine how SOE capacity expansion is driven by performance feedback regarding the sociopolitical goal of employment provision and how SOEs differently prioritize sociopolitical and financial goals based on negative versus positive feedback on the sociopolitical goal.

The authors' study uses panel data on 826 Chinese SOEs in manufacturing industries from 2011 to 2019. The authors employ the fixed-effects model with Driscoll–Kraay standard errors, which are robust to heteroscedasticity, autocorrelation and cross-sectional dependence.

The authors find that SOEs increase capacity expansion as sociopolitical feedback becomes more negative, but they may not increase capacity expansion in response to positive sociopolitical feedback. Moreover, negative profitability feedback strengthens SOEs' capacity expansion in response to negative sociopolitical feedback. In contrast, negative profitability feedback weakens their response to positive sociopolitical feedback.

The authors' study offers a novel behavioral explanation of SOEs' operational decisions regarding capacity expansion. While the literature has traditionally assumed multiple goals as either hierarchical or compatible, the authors extend the BTOF's multiple-goal model to illuminate when firms pursue sociopolitical and financial goals as compatible (i.e. the activation rule) versus hierarchical (i.e. the sequential rule), thereby reconciling their tension in distinct performance situations. Practically, the authors provide fine-grained insights into how operations managers can prioritize multiple goals when making operational decisions. The authors' study also shows how policymakers can influence SOE operations to pursue sociopolitical goals for public benefit.

This study aims to explore and theorize value gaps within value chain management (VCM) by extending the service quality gap model to the context of global manufacturing value chains.

Drawing upon a case study of a small, family-owned Swedish furniture wholesaler, Alpha, this research adapts the service quality gap model and integrates it into the VCM framework. The investigation examines the value creation and delivery processes across a network of actors, highlighting how various gaps emerge at different stages of the value chain.

The study identifies and describes several value gaps, including those related to consumer understanding, manufacturing capabilities and coordination across the value chain. Value creation gaps arise from poor communication about consumer needs and product features, whereas value delivery gaps are mainly tied to manufacturing capacity and material restrictions. These gaps can result in misalignment between consumer expectations and the delivered value.

Although this study provides insights into the emergence of value gaps, further research is needed to determine the magnitude and reduction strategies for these gaps. In addition, understanding how consumers evaluate new products remains a critical area for investigation.

The research highlights the significance of a coordinated approach to managing value creation and delivery processes. It underscores the need for companies to capture accurate consumer data, consider manufacturing capabilities and engage in effective coordination with various actors in the value chain.

By addressing value gaps, companies can enhance consumer satisfaction and minimize potential dissatisfaction caused by misalignment between consumer expectations and delivered value. This, in turn, can lead to improved relationships with consumers and other actors within the value chain.

This research offers a novel perspective on value gaps in VCM, extending the service quality gap model to the realm of manufacturing. It underscores the importance of managing both value creation and delivery processes for enhancing competitive advantage in a global market.

This paper tries to retrospect the mounting application of machine learning (ML) and artificial intelligence (AI) in the human resource management area. The document applies bibliometric analysis and uses relational techniques to explore dimensions of documents in the field. The results highlight publication trends, most impactful authors, countries and institutes in the research area. The science mapping along with co-citation and bibliometric coupling analysis revealed major developments in the field. The thematic mapping and trend analysis highlighted the past and emerging trends towards significant and impactful research in the areas of robotics, big data, AI and data analytics. This paper sets the base for future researchers by coordinating and combining various past researches to help in understanding the evolution of ML and AI in human resource management and expansion of knowledgebase.

This study aims to argue that manufacturers with more exploration orientation (compared to exploitation orientation) have higher degrees of export marketing internalization (EMI) of branding and channels.

The authors use a multisource survey collecting data from 161 Taiwanese high-tech manufacturers in emerging markets.

The results show that manufacturers with more exploration orientation have higher degrees of EMI of both branding and channels. This work also reveals that relational ties with supply chain peers can strengthen this proposed positive effect on the EMI of channels while weakening the positive proposed effect on the EMI of branding.

Accordingly, this study enriches the resource-based view (RBV) literature by showing how firms’ unique resource portfolios affect their adopted EMI strategies in two ways: (1) firms design their EMI based on their value maximization of core competences (e.g. ambidexterity capability), and (2) firms face resource inconsistency when designing their EMI of different marketing activities.

This study investigates the impact of entrepreneurial orientation (EO) and knowledge management (KM) on firm performance (PERF), as well as the mediating role of KM in the EO–PERF (EO-PERF relationship). In particular, this study aims to explain the impact of KM on the relationship between the EO dimensions and PERF; dimensions are risk-taking (RT), innovativeness (IN) and proactiveness (PR).

This study uses structural equation modelling and fuzzy-set qualitative comparative analysis (fsQCA) methodologies to explore target relationships. The sample consists of 150 small furniture manufacturers operating in Poland (out of 1,480 in the population).

The study findings show that KM partially mediates the IN–PERF relationship. Furthermore, fsQCA reveals that KM accompanied by IN is a core condition that leads to PERF. Moreover, the absence of KM (accompanied by the absence of RT and IN) leads to the absence of PERF. In addition, the results show that all the variables examined (RT, IN, PR and KM) positively impact PERF.

This study explores the role of KM in the context of EO and its impact on PERF in the low-tech industry. The study uses simultaneously two methodologies that represent different approaches in the search for the expected relationships. The findings reveal that KM mediates the EO-PERF relationship.

This study examines the impact of inter-organisational justice (i.e. distributive, procedural and interactional) in the buyer–supplier relationship on supply risk and, in turn, on a firm’s marketing and financial performance.

A structured survey was administered both online and in-person to Jordan-based manufacturing companies. The 137 responses received were analysed using partial least structural equation modelling.

The study found that while establishing both procedural and interactional justice in the relationship has a negative impact on supply risk, promoting distributive justice, surprisingly, has no impact. Moreover, supply risk was found to be detrimental to the firm’s marketing and financial performance.

This study considers only the direct role of inter-organisational justice in reducing supply risk. Future research could enhance our understanding of this role by exploring the underlying mechanisms and conditions that could govern it.

Managers can alleviate supply risk by ensuring procedural and interactional justice in the relationship through involving suppliers in the decision-making processes, consistently adhering to established procedures and communicating transparent and ample information.

Addressing supply risk can help in maintaining community resilience and economic stability.

The study highlights inter-organisational justice as a new approach to mitigating supply risk. Moreover, by examining how supply risk can affect a firm’s marketing performance, it also highlights a new implication of supply risk. Furthermore, by exclusively examining the impact of supply risk on a firm’s financial performance, the study provides a more nuanced interpretation of the effect of supply risk and how it can be reduced.