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The authors gathered the core information for this case using publicly available filings from the US Department of Justice and the US Securities and Exchange Commission. Publicly available news articles were used to complement the core information. All sources are cited.

This case involves an assumed fraud perpetrated by the C-suite members of Celadon Group, Inc. – formerly one of the largest trucking companies in North America. By 2016, the value of Celadon’s truck inventory significantly decreased in value. Instead of reducing the inventory to its market value on the Balance Sheet, management engaged in a series of trades and creative accounting to conceal the fact they had overvalued the trucks.

Investment analysts at Prescience Point Capital Management and Jay Yoon (both published on Seeking Alpha) found inconsistencies and red flags in Celadon’s 2016 and 2017 financial reports and reported their suspicions to the public. Soon after, Celadon’s audit committee declared the company’s recent financial statements could no longer be relied upon, resulting in an immediate market loss of $62.3m. In 2019, Celadon entered into a Deferred Prosecution Agreement and was ordered to pay $42.2m in restitution. The Department of Justice (DOJ) criminally charged Danny Williams (president of Quality, a Celadon subsidiary) and he entered a plea agreement. The DOJ also criminally charged Bobby Lee Peavler (CFO) and William Eric Meek (COO). Celadon filed for bankruptcy and operations ceased. Then, in an unexpected turn of events, in 2022, the DOJ dismissed the criminal case against Peavler and Meek.

This case allows students to apply theory learned in a fraud examination or forensic accounting course to an actual fraud case. It discusses red flags and how perpetrators of fraud often need to keep perpetrating wrongdoing to keep the original fraud from being discovered. The authors designed the case for upper-level or graduate business students. It should be included in the course when covering financial statement fraud.

Our understanding of the strategies that lead to the success of start-ups when they scale-up is limited when it occurs at the regional periphery. The main purpose of this study is to explore the specific strategies that start-ups employ to scale-up, specifically in contexts with high resource constraints at the regional periphery.

Analyzing the data from personal in-depth interviews with engineering and science start-up founders in peripheral regions of upstate New York USA bordering the Canadian Ontario, we explored a combination of internal and external strategies that start-ups employed to scale-up.

The study found that start-ups prioritize building internal scaling capacity in their human capital, organizational structure, scalable business model, finance and business ownership. To foster the scaling process further, start-ups develop new effective external strategies that target the business environment.

Policymakers and regional governments can use our research to develop more effective industrial policies for supporting start-ups’ growth and subsiding strategic industry clusters for rebooting new competition policy, which is a current debate in many industrialized economies including the US. This targeted regional industrial policy is specially needed when scaling-up at the regional periphery.

Our study is specially need it when scaling-up at the regional periphery and with limited resources.

This study enriches our understanding of the growth of start-ups and small ventures by providing context-based insights into how firms build the capacity to scale-up in highly challenging and uncertain business environments in a peripheral bordering region between the USA and Canada. It also offers useful managerial and policy implications.

With the emergence of social media, online influencers have played a major role in brand marketing. This study aims to examine how Malaysian young adults perceive advertising endorsements of celebrities and online influencers within the framework of parasocial relations and multiculturalism.

This study engaged 42 Malaysian young adults aged 18–24 in semistructured interviews. They were asked to share a television commercial with celebrity endorsement and explain why it was impressive. They were then asked explicitly to compare traditional celebrities and online influencers in terms of attractiveness, credibility and endorsement effects.

Advertising execution strategies and emotional attachment to advertising endorsers are the two main reasons for making an advertisement impressive. Interviewees demonstrate strong emotional attachments to celebrities who are national icons. Online influencers are perceived as more relatable, authentic and credible than traditional celebrities. Interviewees perceive that endorsements by traditional celebrities were more effective for luxurious brands and brands targeting older consumers. On the other hand, endorsements by online influencers were perceived to be more effective for low-involvement product categories and brands that target younger consumers.

This study presents a summary of the parallel perceptions of online influencers and celebrities to explain how young consumers evaluate advertising with celebrity and social media influencer endorsement.

Malaysian young adults perceive endorsers as people who guide their experiences with ads. Adopting an endorser who is young, has a trendy image, and has a similar cultural background enhances the relatability of ads for young adults. National sports heroes can serve as nation-building agents through celebrity endorsement in advertising.

Few studies directly compare the endorsement effects of celebrities and online influencers in a multicultural setting. This study provides marketing and theoretical insights to unravel the influencing mechanism of parasocial relations and multiculturalism.

Despite widespread use of virtual streamers, academic research on this subject remains limited. This study aims to explore the mechanisms by which consumer perceptions of virtual streamers influence consumer purchase intentions.

We used partial least squares structural equation modeling to analyze validated online survey data from 414 consumers watching virtual streamers.

Consumer perceptions of virtual streamers (perceived competence, perceived interaction quality and perceived warmth) promote the establishment of transactional psychological contract and relational psychological contract between consumers and virtual streamers, which further affects consumers’ purchase intention.

This study enriches the research on virtual streamers, facilitates their adoption and introduces the psychological contract into a new research context by revealing the formation of the psychological contract from the perspective of virtual streamers. Moreover, this study provides a new understanding of the relationship between disembodied artificial intelligence and consumers.

The emergence of artificial intelligence-generated content (AIGC) technology has markedly enhanced the capabilities of digital human content generation and natural language processing, thus further advancing the development of digital humans. To enable enterprises and governments to effectively address the challenges and opportunities arising from the rapid development of digital humans, it is imperative to understand the public opinion and discussion dynamics of digital humans.

This study initially analyzed the trends and distribution patterns of public attention to digital humans. By utilizing word cloud technology, we explored the primary focal points of public interest and conducted a topic analysis using latent Dirichlet allocation (LDA) techniques. Subsequently, content analysis was conducted on the popular application domains of digital humans. Finally, this study examined the influence of user characteristics on emotional scores toward digital humans and the presence of differences in focus across user groups.

The results indicate a sustained increase in public attention toward digital humans, accompanied by notable geographic disparities in the distribution of discussions. Discussions on Weibo are primarily focused on four domains, whereas areas within the digital human application domain that provoke widespread discussion include live streaming, service, cultural entertainment and digital avatars. Significant impacts of user characteristics on sentiment scores were observed, revealing divergent focal points of interest among different user groups toward digital humans.

Through the deep analysis of Weibo data, this study offers new insights into the digital human industry, enabling governments and businesses to understand industry trends and develop targeted digital human customization strategies based on customer characteristics.

This study aims to explore the strategic decisions at innovation level implemented by firms to thrive and transform themselves during crises. This study also aims to provide insights to answer the question: Why do some firms decide to implement certain types of innovation during a crisis?

This research was carried out through a multiple case study involving 22 firms. The methods were implemented in three steps to increase rigor and the replication of the study: identification and selection of cases, data collection through interviews triangulated with online information and analysis based on aggregating themes and finding patterns.

In the face of the COVID-19 pandemic, the companies analyzed focused their activities mainly on developing new features or functionalities for their products or services. Most of the firms implemented innovations across nearly all ten categories outlined by Keeley et al. (2013). Many of the implemented innovations involved personalized and superior service enhancements, process efficiency optimizations, channel diversification initiatives and new ways to collaborate to generate value. In general, the main drivers that led firms to decide to implement these innovations include reducing costs, enhancing operational efficiency, generating new revenue streams, augmenting sales and enhancing client relationships.

This research significantly advances the convergence of innovation, strategy and crisis in three impactful ways. First, it constructs a pragmatic and evidence-based framework, consolidating the primary catalysts, innovation categories and strategies adopted by firms in response to the challenges posed by the COVID-19 crisis. Second, it offers insights for guiding decision-making processes related to innovation, presenting actionable recommendations derived from the study’s findings. Thirdly, this study highlights critical perspectives that can guide governmental intervention, facilitating the formulation of more tailored and effective policies to assist companies during crisis periods.

This study centers on developing countries, specifically examining Colombian firms, considering their unique characteristics and priorities. Surprisingly, there is a scarcity of studies delving into the innovation and transformation of firms during the COVID-19 crisis in nations sharing cultural, economic and political similarities with Colombia.