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Managers must make numerous strategic decisions in order to initiate and implement a business model innovation (BMI). This paper examines how managers perceive the management team interacts when making BMI decisions. The paper also investigates how group biases and board members’ risk willingness affect this process.

Empirical data were collected through 26 in-depth interviews with German managing directors from 13 companies in four industries (mobility, manufacturing, healthcare and energy) to explore three research questions: (1) What group effects are prevalent in BMI group decision-making? (2) What are the key characteristics of BMI group decisions? And (3) what are the potential relationships between BMI group decision-making and managers' risk willingness? A thematic analysis based on Gioia's guidelines was conducted to identify themes in the comprehensive dataset.

First, the results show four typical group biases in BMI group decisions: Groupthink, social influence, hidden profile and group polarization. Findings show that the hidden profile paradigm and groupthink theory are essential in the context of BMI decisions. Second, we developed a BMI decision matrix, including the following key characteristics of BMI group decision-making managerial cohesion, conflict readiness and information- and emotion-based decision behavior. Third, in contrast to previous literature, we found that individual risk aversion can improve the quality of BMI decisions.

This paper provides managers with an opportunity to become aware of group biases that may impede their strategic BMI decisions. Specifically, it points out that managers should consider the key cognitive constraints due to their interactions when making BMI decisions. This work also highlights the importance of risk-averse decision-makers on boards.

This qualitative study contributes to the literature on decision-making by revealing key cognitive group biases in strategic decision-making. This study also enriches the behavioral science research stream of the BMI literature by attributing a critical influence on the quality of BMI decisions to managers' group interactions. In addition, this article provides new perspectives on managers' risk aversion in strategic decision-making.

This study aims to comprehensively examine the relationship between initial public offering (IPO) activities and macroeconomic factors in Sri Lanka.

This study uses principal component analysis (PCA) and autoregressive distributed lag (ARDL) techniques to examine the relationship between IPO activities and macroeconomic factors. Ten macroeconomic variables are transformed into principal components (factors) using PCA. Then, ARDL is applied to investigate the long- and short-term relationships between IPO activities and the transformed macroeconomic factors.

The empirical investigation identifies three principal factors from the ten macroeconomic variables, of which two factors have a significant long-run association with IPO activities: “return on investment (RTOI)” and “economic and market development (ECMD).” In the short run, “trade openness and banking sector development (TOBD)” and RTOI are significantly associated with IPO activities.

The study was based on 30 years of observations, which passed all diagnostic tests but may be insufficient for generalizing the findings. Future studies could use high-frequency data (monthly or quarterly) to increase the number of observations and repeat the method and analysis. Also, while the symmetrical ARDL method was used in this study, an asymmetrical ARDL method may provide more insightful results and interpretations.

The study highlights the importance of considering both long- and short-term associations when analyzing the impact of macroeconomic variables on IPO activities.

This study is the first to comprehensively examine the relationship between IPO activities and macroeconomic variables using PCA and the ARDL technique. The study provides insight into the macroeconomic factors that influence IPO activities in Sri Lanka and highlights the importance of considering long- and short-term associations.

This paper aims to explore the relationship between the economic value added (EVA) and the working capital efficiency (WCE) of the listed firms in India.

This paper uses annual data of 401 listed companies for the period 2012–2019. Furthermore, the dynamic panel data regression model was used to investigate the relationship between the variables of interest.

The results reveal that the net trade cycle (NTC) is significantly and negatively associated with listed firms’ economic value in India, indicating that a shorter NTC generates higher EVA for Indian firms. The authors further explore the association between individual components of the NTC with EVA. The authors also found that an inverse, and significant relationship exists between EVA and the individual components of the NTC. The findings also reported a meaningful relationship between EVA and control variables except for leverage and age. For listed firms, the results suggest that sales growth and firm size are crucial factors driving firms’ EVA.

Higher WCE enhances shareholder value creation, forming positive stakeholders’ expectations toward the company.

Over the years, many studies have been conducted to determine the relationship between WCE and traditional measures of firms’ profitability. However, hardly any study finds out the impact of WCE on the value-based measures of firms’ performance. This study fills the gap in the existing literature by analyzing the impact of WCE on firms’ EVA.

This paper reviews the literature on disability inclusion (DI) in supply and demand chains of hospitality and tourism (H&T) organisations. The purpose of this study is to assess disability support and interventions within H&T organisations. Through the assessment, we identified gaps to recommend H&T scholars’ and practitioners’ knowledge of DI from new perspectives.

An integrative review was conducted to examine the published evidence on DI in H&T organisations. This study used high-ranking H&T journals from the Scopus and Web of Science databases between 2001 and 2023. In total, 101 empirical papers met the criteria for the review analysis.

DI focuses heavily on customer disabilities, with scant research on DI in H&T employment. The review emphasises the critical need for empirical research into the varied disability employment ecosystem within H&T organisations, focusing on social integration for inclusive workplaces.

This study contributes to the H&T literature, which previously overlooked the disability context in diversity. The research offers strategies for creating inclusive environments in the H&T industry for disabled consumers and producers.

This paper tests the causal relationship between bid ask spread and cash holding in the short and long run. It uses different proxy of corporate cash holding and test three proxies of a bid-ask spread. It also provides comprehensive and robust evidence for the causal relationship between cash holding and stock liquidity in an emergent market.

This study is based on a sample covering all financial and industrial firms in Tunisia’s stock market from 2008 to 2020. It uses a panel ARDL data approach to test the bi-directional relationship between cash holding and stock liquidity. This paper conducts rigorous statistical analysis of the collected data to test the hypothesized relationship between cash holding and bid-ask spread. This can involve running regression models, performing statistical tests, and analyzing the significance of the estimated coefficients.

Overall, paper’s findings provide empirical evidence supporting the bidirectional causal relationship between cash holding and bid-ask spread. The results highlight the importance of cash holding in determining stock liquidity and suggest that firms with higher cash holdings may face liquidity challenges. These findings have implications for corporate governance and can guide firms and regulators in improving stock liquidity and designing appropriate policies and recommendations.

Overall, the practical implications of this paper suggest that firms can enhance their stock liquidity by improving governance mechanisms and optimizing cash management strategies. Regulators can play a crucial role in creating a conducive market environment, and investors can take into account the relationship between cash holding and stock liquidity when making investment decisions.

We present empirical evidence of the relation causality between stock liquidity and cash holding. Our research is the first to test the bidirectional relationship between bid ask spread and cash holding in the short and long run. Overall, the originality of this paper lies in its exploration of the causal relationship between cash holding and bid-ask spread, the use of multiple proxies for stock liquidity, the examination of an emerging market context, the comparative analysis across sectors, and the practical implications for firms and regulators. These contributions add to the existing body of knowledge and provide new insights into the dynamics of cash holding and stock liquidity.

Prior research has proposed a number of scales measuring the customer experience (CX), which tend to conceptualize and operationalize CX differently, raising potential confusion among researchers (e.g. regarding which scale to use). Addressing this issue, this article conducts a systematic review to inventorize key CX scales and assess their theoretical rigor, with a focus on the identification of potential scale-related drawbacks or risks.

Drawing on the Preferred Reporting Items for Systematic reviews and Meta-Analyses (PRISMA) approach, 104 CX scale development studies published between 1996 and 2024 are identified and analyzed in terms of their respective CX conceptualization, dimensionality, itemization, and adopted theoretical perspective to evaluate their theoretical rigor.

The findings reveal the existence of five main risks associated with the adoption of specific CX or related scales, including (1) defining experience with explicit reference to other extant constructs, (2) failure to accurately and comprehensively capture the experience, (3) experience-based tautology and theoretical indeterminacy, (4) experience-based composite constructs, and (5) lacking robustness of experience-based conceptual models. Based on these observations, recommendations are offered for scholars to improve the rigor of their adopted, refined, or proposed CX or related scales.

This article assesses the benefits and potential risks inherent in the adoption of particular CX scales, equipping researchers with a CX roadmap.

Image change through visit experience with a destination is a common assumption, yet with rare empirical support to date. Thus, this study treats destination image as an interactive system of cognitive and affective components that are dynamic and changing through the course of an experience with a destination.

This longitudinal study tracks the change in images of 162 European visitors to the Gran Canaria Island one month before a two-week trip, on the last day of the trip, one month after the trip, and one year after the trip. A one-way repeated-measures analysis of variance with Bonferroni post hoc tests was conducted to evaluate the change in visitors’ cognitive, affective, or holistic images of Gran Canaria Island.

The Gran Canaria Island’s one-month post-visit image was more positive than the pre-visit image reflecting an improvement because of visitation. However, this improvement did not last long since the one-year post-visit image was not as positive as the one-month post-visit image. Surprisingly though, principle component analysis revealed more factors with more image items in the pre-visit image, whereas post-visit image factors were fewer in numbers and more generic, reflecting a reduction of details in the image after the visit.

This study is one of the very few efforts that contribute empirical evidence for the role of visitation in destination image evolution. It focuses on the pre and post-visit changes in the cognitive image and pre-, during, and post-visit changes in affective and overall images of a tourist destination in Europe.

The extensive brand associations research lacks organisation when it comes to the used information cues. This paper aims to systematically map and categorise the brand knowledge associations’ components and develop a typology applicable to any brand.

Using the restaurant and hotel industries in four different European cultural clusters as contexts, this work uses well-established systematic qualitative analysis approaches to categorise, code and model pictorial content in two studies. A four-stage sampling process identified Instagram brand-posted signals (photos), 243 from 26 restaurants in Madrid, Paris and Rome for study one and 390 from 29 hotels in Moscow, Berlin and Stockholm for study two. Adhering to relevant guidelines, the manual coding procedures progressed from 246 for restaurants and 231 for hotels initially generated free information coding inductive codes to a theory-informed categorisation. Quantitative analysis complemented the qualitative analysis, revealing the information cues relative utilisation.

For both studies, the analysis produced a typology consisting of two high-level and five lower-level brand knowledge association categories, namely: (a) brand characteristics consisting of the brand as a symbol, the brand as a product and the brand as a person, and (b) brand imagery consisting of user imagery and experience imagery. The five lower-level categories comprise of sub-categories and dimensions, providing a more comprehensive understanding of the brand associations conceptual structure relevant to brands operating in any industry.

Researchers can use this typology to holistically encapsulate brand associations or design projects aiming to deepen brand knowledge association aspects/dimensions understanding.

Managers can use this typology to portray brands. Some of the identified lower-level categories and/or sub-categories and dimensions are likely to need customisation to fit specific contexts.

The suggested categorisation offers a solid, comprehensive framework for effectively categorising and coding brand knowledge associations and proposes a new theory in the form of a typology.

The purpose of this paper is twofold: to explore the existing evidence around dementia services and interrogate the overarching UK policy development relating to service inclusion of black and minoritised groups. The paper will go on to identify the implications for the dementia wellness pathway and make recommendations regarding how services can be more inclusive.

This paper examines the policy/practice landscape around dementia care provision and observes if lessons can be learnt to improve health outcomes for people living with dementia from black and minoritised communities.

A review of dementia policy demonstrates how opportunities to improve the awareness, diagnosis and post-diagnostic support for minoritised communities are being missed. The outcomes of this mean that individuals are denied vital treatment and support, which could enhance quality of life and delay the progression of dementia.

The authors’ premise is that not meeting the dementia support needs of less-heard communities has negative financial as well as social and health-related outcomes and has wider resonance and implications for all stages of the dementia wellness pathway. Moreover, there is a legal responsibility for public services to provide culturally sensitive, responsive, appropriate and available care, to all people, without discrimination.

This paper offers a valuable review of policy and practice around dementia care in the UK and makes recommendations to improve health outcomes for people living with dementia from black and minoritised communities.