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Drawing on the literature on technological acquisition and the knowledge-based view , this study examines how technological overlap between acquiring and target firms influences acquisition premiums. We further explore how the resulting synergies are contingent on the dynamic characteristics of the target firm, specifically its technology clockspeed and industry munificence. Technology clockspeed indicates the pace of technological evolution, reflecting internal dynamic resources, while industry munificence represents the abundance of external resources. These boundary conditions illustrate the dynamics of synergies, explaining their moderation effects on acquisition premiums.

We analyze a sample of 369 technological acquisitions by publicly traded U.S. firms between 1990 and 2011. To test our hypotheses, we used the ordinary least squares regression model with robust standard errors clustered by acquiring firms. In the robustness checks, we applied the generalized estimating equations to account for non-independent observations in our sample and verified that the results were robust to an alternative two-way clustering approach.

We suggest that a low level of technological overlap between an acquiring firm and its target firm leads the acquiring firm to offer a high acquisition premium because of the expected synergistic potential that evolves from combining two distant technological bases. We further find that this effect is contingent on the target firm's technology clockspeed and industry munificence. Specifically, the negative effect is amplified when target firms exhibit a rapid pace of technological evolution, whereas it is weakened when target firms operate in highly munificent industries characterized by robust growth and abundant resource flows.

This study has several limitations, but it offers opportunities for future research. First, our sample is limited to domestic acquisitions between U.S. publicly traded firms, which may restrict generalizability. Cross-border acquisitions could reveal different dynamics, as technology leakage and national security concerns might make technological overlap a more sensitive factor. Additionally, private firms were not included, and their distinct strategic considerations could provide further insights. Future research could explore post-acquisition data to validate these synergies and expand the scope to include international contexts and private firms for a comprehensive analysis.

Our findings highlight important implications for managers in technology sector acquisitions. This study underscores the need for a thorough evaluation of target firms to avoid misjudging synergies. Low technological overlap can heighten expectations for value creation, making it crucial for executives to accurately assess potential synergies to prevent overestimation. Managers should consider both internal resources and external industry conditions when evaluating synergies. Ultimately, these insights help managers offer informed prices that reflect true strategic synergies, adopting effective valuation practices to mitigate risks of financial overpayments and poor post-merger performance.

The social implications of our findings emphasize the broader impact of acquisition decisions on innovation and competition within the technology sector. By ensuring accurate valuation and avoiding overpayment, companies can allocate resources more efficiently, fostering sustainable growth and innovation. This diligent approach can reduce the risk of corporate failures.

This study makes two key theoretical contributions. First, it identifies technological overlap as a critical determinant of acquisition premiums in technological acquisitions, addressing gaps in the literature that focused on CEO characteristics and managerial attention. Second, it expands the theoretical framework by highlighting the dynamic nature of synergies, influenced by the target firm's technology clockspeed and industry munificence. By integrating both acquiring and target firm characteristics, this study provides a relational perspective on value creation, explaining why firms pay high premiums and offering a more comprehensive understanding of the strategic motivations in technological acquisitions.

Our study aims to explore the ownership structure and accounting conservatism in influencing the value relevance that we analyse through the paradigm of open innovation and socio-emotional wealth (SEW). We also extended the test to identify how firm size could affect value relevance.

Through panel data testing, we collected all issuers on the stock exchange for the 2016–2018 period. The total collected observations are 735 observations from various industries.

The results of the study provide empirical evidence that institutional ownership is more pronounce, especially in companies with high asset levels. We also conducted other tests to see it from the perspective of SEW. We divide companies into family and non-family companies. The results of this study indicate that institutional ownership has an effect on increasing value relevance, especially in family companies compared with non-family companies. The results of the study also indicate that accounting conservatism plays a more important role in increasing value relevance in non-family firms compared to family firms.

This study advances in two main ways. First, we use a SEW approach and an open innovation perspective. Second, we conducted tests for family and non-family firms.

The purpose of this study is to examine the influence of corporate governance (CG) mechanisms on earnings management (EM) within the Gulf Co-operation Council (GCC) countries. In addition, the impact of firm’s political connections (PCs) on EM is investigated, as well as whether it moderates the relationship between CG and EM.

Fixed-effects model is used on a sample of non-financial firms across the GCC countries to test the hypotheses. Moreover, a two-stage least squares method and a propensity score matching procedure are used to mitigate potential reverse causality and sample selection bias.

This study reveals that CG mechanisms such as board size and board independence are negatively associated with EM, while CEO duality is positively association with EM. In addition, this study shows that institutional ownership and blockholders do not influence EM. Furthermore, PCs are shown to play a moderating role in the relationship between CG and EM. The results of this study are robust to endogeneity testing and to alternative measures of CG.

Because of a lack of data, the authors do not consider additional CG attributes such as tenure, education and age of board members. Future research could explore the impact of these attributes when data becomes available.

This study provides valuable insights for government officials, policymakers, standard-setters, regulators and corporations by presenting new evidence on the relationship among CG, PCs and EM. Moreover, this study underscores that, in the absence of a strong institutional infrastructure and investor protection, relying solely on strong CG and Islamic values and GCC culture may have a limited impact on effective monitoring of opportunistic managerial behaviors.

This study contributes to existing literature with a specific focus on the unique political, legal, institutional, social and cultural setting of the GCC region. Moreover, this study provides new insights that PCs serve as a governance mechanism in mitigating EM because relatively little attention has been given to the impact of PCs in improving accounting outcomes, especially in the context of the GCC region where Islamic ethical norms often shape business practices.

Consumer behavior is evolving rapidly due to the increasing role of technology in daily life. Online food ordering has emerged as a key channel in this changing landscape. This paper investigates the relationships between online promotions, consumer skepticism, information sharing on social media and the intention to purchase food and beverages through online delivery services.

Measures were developed based on a review of existing literature. Data from 402 participants were analyzed using Structural Equation Modeling (SEM).

The study reveals that online promotions significantly impact consumers' sharing of restaurant posts. Additionally, consumer skepticism about online food sales affects both their sharing behavior and their intention to purchase online. Engagement in sharing restaurant posts online is a strong predictor of online food purchasing intentions.

The findings offer valuable insights for restaurant operators, policymakers and technology developers in the competitive online food delivery sector. They emphasize the importance of implementing innovative promotions and crafting appealing food presentations. These strategies can accelerate customer decision-making, attract new customers and contribute to market expansion and customer base sustainability.

This research provides significant insights for restaurant owners and contributes to the limited literature on online promotions, consumer skepticism and information sharing in the restaurant industry. It also lays the groundwork for future studies aimed at deepening understanding in this field.

The escalating instances of financial distress (FD) in corporate houses across the globe, call for immediate attention from policymakers, practitioners and academics equally. This study aims to examine how board gender diversity (GD) and information disclosures (ID) interact with each other to drive FD.

The authors apply dynamic panel data analysis on a sample of 255 Indian-listed firms from 2016 to 2023 to arrive at the econometric results.

The main findings indicate that while ID exacerbates distress, GD reduces it. In addition, GD also interacts with ID to curtail the adverse effects of disclosures on FD. Therefore, GD acts like a stone that kills two birds simultaneously, first by reducing the distress directly and second by limiting the negative effects of disclosures on distress.

This study extends the understanding of the implications of GD and complements existing research by investigating its direct and indirect impact on FD. It builds on the analysis to propose that GD can foster resilience against adverse FD situations. The findings should apply to other emerging nations after careful consideration of country-specific factors.

This study aims to analyze the existing body of knowledge concentrating on institutional investors’ behavior. It seeks to track how this domain has evolved through collaborative networks, as well as significant contributors, themes and research opportunities for future work.

The present study applies bibliometric analysis to examine the trends in the selected research field, using 446 articles from highly recognized journals indexed in the Scopus database.

The authors discovered that research on institutional investors’ behavior has significantly increased over the past four decades due to academic interest in the topic. This study observed five themes that unite the research in this field: institutional investors and corporate behavior; determinants of institutional investors’ trading patterns and performance; trading activity and its outcomes; herding, causes and consequences; and institutional investment and corporate performance. Moreover, future directions are penned down, such as how institutional investors’ control influences governance disclosures.

This study serves as a guide by mapping and analyzing the intellectual development of the research literature on institutional investors’ behavior. The authors contribute to the knowledge base by providing a solid foundation for further studies.

The purpose of this paper is to examine the effect of chief executive officer (CEO) overconfidence on earnings quality and the moderating role of ownership structure as a crucial corporate governance device.

The paper uses the generalized method of moments (GMM) estimation method to test our models on a sample of 335 French companies between 2009 and 2020, i.e. 4,020 observations.

The results show that CEO overconfidence negatively affects earnings quality. This result supports the predictions of behavioral finance theory and suggests that CEO overconfidence is a behavioral bias that affects the quality of earnings. The authors also examined the effect of different types of ownership structures on this relationship. The results show the significant role of controlling shareholders, owner-managers, families and institutional investors in mitigating the negative effect of CEO overconfidence on earnings quality.

This paper has some limitations. First, other types of ownership structures could have been analyzed such as state ownership. Second, we ignored the role of the board of directors as an important governance mechanism in controlling overconfident CEOs’ actions.

Companies should be aware of the potential risks associated with CEO overconfidence, which can compromise the faithful representation of earnings. This highlights the importance of effective monitoring and internal controls to detect and prevent such practices, which involve the role of ownership structure.

This paper addresses the effect of CEO overconfidence on earnings quality and provides new evidence on the role of different ownership structure types in shaping this relationship. Additionally, this paper sheds new light on how overconfident CEOs may behave in challenging times.

The main purpose of this research study is to investigate and examine the factors that might influence the intention to adopt and use mobile payment and their relationships during the COVID-19 pandemic.

This research study used both mobile payment adoption literature, The Technology Adoption Model and Unified Theory of Acceptance and Use of Technology, to propose a conceptual framework for mobile payment adoption. Quantitative method is used in which 306 participants responded to an online survey to validate the proposed conceptual framework.

The introduced integrated model embraced perceived risk, transaction transparency, mobile payment usefulness, social influence, performance expectation as independent variables and usage continuation intention to adopt mobile payment as the dependent variable. The results from data analysis have statistically revealed significant relationships and a positive impact of perceived risk, mobile payment usefulness, social influence and performance expectation. Also, the results identified a negative impact for the transaction transparency factor. As this research study is conducted at a later stage of the COVID-19 pandemic, it adds value to the existing literature by providing insights to business managers on the factors influencing mobile payment usage and other implications related to increasing the market potential for businesses in the new normality of the coronavirus pandemic.

This paper offers a combination conceptual framework of mobile payment adoption based on a literature review on mobile payment adoption from information systems perspective. It adapts integrated model to establish a more comprehensive innovation adoption framework for mobile payment.

This study aims to investigate the role of interpersonal influence on consumer purchase decisions regarding foreign products, specifically by exploring consumers’ social reaction styles (acquisitive and protective) when confronted with normative pressures and their subsequent impact on consumers’ purchase behavior in the context of situational animosity.

Three studies were conducted in China to empirically examine the proposed research model. The US–China Chip War of 2022 was used as the research context for situational animosity, while the Japan–China relationship representing a stable animosity condition was used for contrast.

This study establishes the mediating role of perceived normative pressure in linking animosity attitudes to purchase avoidance in situational animosity. It also validates that consumers’ social reaction styles (acquisitive and protective) help predict distinct behavioral outcomes, holding significant implications for advancing research in the field of product and brand consumption.

This research provides a novel perspective by exploring consumers’ social reaction styles when dealing with normative pressure in situational animosity. The distinction between acquisitive and protective reaction styles adds depth and originality to the study. Moreover, this study examines consumer behavior in two distinct consumption contexts: switching intentions to local products and purchase intentions for products from offending countries in hidden consumption situations. This dual perspective offers a comprehensive exploration of consumers’ purchase behavior under normative pressure, contributing to the novelty of this research.

Smart manufacturing is revolutionizing the manufacturing industry by shifting the focus from traditional manufacturing to a more intelligent, interconnected and responsive system. Despite being the backbone of the economy and despite the government’s efforts in supporting and encouraging the transformation to smart manufacturing, small and medium enterprises (SMEs) have been struggling to transform their operations. This study aims to identify the challenges for SMEs’ transformation and the benefits they can get from this transformation, following a systematic review of existing literature.

A systematic review of existing literature has been performed to identify the peer-reviewed journal articles that focus on smart manufacturing for SMEs. First, a comprehensive list of keywords relevant to the review questions are identified. Second, Scopus and Web of Science databases were then used to search for articles, applying filters for English language and peer-reviewed status. Third, after manually assessing abstracts for relevance, 175 articles are considered for further review and analysis.

The benefits and challenges of SMEs’ transformation to smart manufacturing are identified. The identified challenges are categorized using the Smart Industry Readiness Index (SIRI) framework. Further, to address the identified challenges and initiate the SME’s transition toward smart manufacturing, a framework has been proposed that shows how SMEs can start their transition with minimum investment and existing resources.

Several studies have concentrated on understanding how smart manufacturing enhances sustainability, productivity and preventive maintenance. However, there is a lack of studies comprehensively analyzing the challenges for smart manufacturing adoption for SMEs. The originality of this study lies in identifying the challenges and benefits of smart manufacturing transformation and proposing a framework as a roadmap for SMEs' smart manufacturing adoption.