Jiajia Liu, Yahan Wang, Meilin Chen, Zhe Yang and Ye Zhang
According to reputation theory, enterprises that adopt a proactive approach to corporate social responsibility (CSR) are known to actively invest in corporate innovation. However…
Abstract
Purpose
According to reputation theory, enterprises that adopt a proactive approach to corporate social responsibility (CSR) are known to actively invest in corporate innovation. However, this theory does not fully explain the mechanisms through which CSR influences corporate innovation, nor does it address how to effectively amplify CSR’s positive impact on innovation. To overcome these limitations, this research aims to incorporate the theories of innovation investment and dynamic capabilities. Innovation investment theory elucidates how CSR can attract additional financing, which can be directed toward innovation activities. Meanwhile, dynamic capabilities theory highlights how digital transformation in enterprises can enhance the positive effects of CSR on innovation, providing insights from both theoretical and empirical perspectives.
Design/methodology/approach
To demonstrate the mediating role of debt financing costs and the moderating role of enterprise digital transformation in the mechanism of CSR on corporate innovation, this research conducts fixes effects models by collecting 27,912 data points from 3,775A-share China-listed enterprises, ranging in period from 2010 to 2020. Empirical research once again proves that the theories of innovation investment and dynamic capabilities effectively compensates for the shortcomings of reputation theory. These three theories effectively explain that what is the effect of CSR on enterprise innovation? How does CSR influence corporate innovation? And through what mechanisms can CSR better enhance corporate innovation?
Findings
According to innovation investment theory, the cost of debt financing mediates the positive relationship between CSR and corporate innovation. This occurs because enterprises with robust CSR practices are more likely to secure external funding, thereby reducing their costs associated with external debt financing. Lower debt financing costs provide a stable source of funds for corporate innovation. Additionally, dynamic capability theory suggests that enterprise digital transformation moderates the positive relationship between CSR and corporate innovation. Building on these insights, it is recommended that enterprises, especially state-owned ones, should prioritize technological innovation to enhance their competitiveness.
Research limitations/implications
This research aims to address and narrow the knowledge gap regarding the relation between CSR and corporate innovation through theoretical and empirical analyses. With respect to the influence mechanism, this research solely based on innovation investment theory and dynamic capabilities theory, focuses on the influence mechanism of CSR on corporate innovation, with the debt financing costs as the mediating variable and digital transformation as the moderating variable. However, the influence mechanism turns out to be complicated and there is room for further exploring numerous mechanisms. For example, future research can focus on identifying additional channels through which CSR exerts an influence on corporate innovation based on TOE theoretical framework.
Practical implications
This research presents several strategies to enhance corporate innovation based on its conclusions: First, enterprises should promptly publish social responsibility reports to build a positive industry reputation. Moreover, by actively participating in CSR activities, they can strengthen their networks and enhance their industry standing. Second, the significant mediating role of debt financing costs should not be ignored. Enterprises are encouraged to seek diverse financing channels to reduce financial pressures, address financing challenges and facilitate the coordinated development of CSR and innovation. Third, enterprise digital transformation significantly affects the impact of CSR on innovation. Therefore, enterprises should advance digital transformation initiatives that incorporate technological innovation, organizational improvements and integration with supply chain partners. Finally, it has been noted that state-owned enterprises are often less responsive to technological innovation than their non-state counterparts. SOEs could redefine the scope and priorities of their social responsibilities to prevent excessive resource consumption that could hinder innovation. For instance, integrating some of their social responsibilities with innovation projects could promote both social and technological innovation objectives. Additionally, the government could ensure fair resource distribution among different types of enterprises and provide an equitable financing platform to mitigate financial challenges for both state-owned and non-state-owned enterprises.
Originality/value
Reputation theory does not fully elucidate the mechanisms by which CSR influences corporate innovation or how to effectively enhance CSR’s positive impact on innovation. This research integrates the theories of innovation investment and dynamic capabilities to address these gaps. According to innovation investment theory, debt financing costs mediate the positive relationship between CSR and corporate innovation. Meanwhile, dynamic capabilities theory posits that enterprise digital transformation moderates this positive relationship, further strengthening the impact of CSR on innovation.
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Prosper Bangwayo-Skeete and Ryan W. Skeete
Aficionados of wine festivals, a component of wine tourism experience, engage in vigorous online discussions that influence fellow travelers’ purchase behaviors. This study aims…
Abstract
Purpose
Aficionados of wine festivals, a component of wine tourism experience, engage in vigorous online discussions that influence fellow travelers’ purchase behaviors. This study aims to delve into these overlooked discussions, identifying emotions, topics and assessing their usefulness in TripAdvisor’s Travel Forums for two US wine festivals: Taste of Yountville and Epcot International Food and Wine Festival, located in traditional and nontraditional wine tourism destinations.
Design/methodology/approach
The study uses state-of-art sentiment analysis and topic modeling methods to extract emotions and underlying latent topics in travel forum discussions. Drawing from information theory, two regression analyses are performed on 10,677 forum posts to examine how the extracted Ekman’s emotions and key underlying topics influence the helpfulness of wine forum posts for each festival.
Findings
While three topics were identified in Epcot and four in Yountville, both festival platforms highlight travelers’ common preferences for “culinary experience” and “planning” attributes but reveal notable differences in their utility. Other shared novel findings include the importance of “anger” and “surprise” emotions on the helpfulness of forum posts.
Practical implications
These findings enhance wine festival managers’ and destination planners’ understanding of online travelers’ preferences and cognitive evaluation of user-generated contents’ usefulness. This marketing intelligence informs strategies for boosting the wine destination’s economic development.
Originality/value
This research offers a novel comparative analysis of social media on wine festival tourism experiences in diverse regions. Unlike hotel reviews, typically posted after consumption, forums offer unique and broader perspectives on discussions before, during, and after experiencing the wine festival.
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Najla Alemsan, Guilherme Tortorella, Alberto Portioli Staudacher, Jiju Antony, Andrea Trianni and Felix Hui
This research aims to analyze the deployment of lean practices and resilience capabilities within the healthcare supply chain across different disruptive scenarios. The study…
Abstract
Purpose
This research aims to analyze the deployment of lean practices and resilience capabilities within the healthcare supply chain across different disruptive scenarios. The study addresses the gap in how different tier levels of the healthcare supply chain integrate lean and resilience.
Design/methodology/approach
Employing a case study approach, the research evaluated four Italian organizations (two healthcare providers, one pharmaceutical distributor and one pharmaceutical producer) representing the three main tier levels of the healthcare supply chain. The methodology involved a questionnaire assessing the adoption of specific lean practices and resilience capabilities, followed by a scenario analysis by experts used to identify critical practices and capabilities across different disruptive scenarios.
Findings
This research systematically identified critical lean practices and resilience capabilities that are underutilized at various tier levels within the healthcare supply chain, highlighting significant opportunities for theoretical advancement in operational efficiency and system robustness during disruptions. Additionally, the study introduced a novel methodological approach to evaluate the effectiveness of lean and resilience practices across different disruptive scenarios, thereby enriching the theoretical framework for crisis management within healthcare operations. Finally, we emphasized the crucial roles of just-in-time and anticipation capability in bolstering the performance of all the healthcare supply chain.
Originality/value
The study contributes to the fields of supply chain management and healthcare by systematically identifying and classifying the importance of lean practices and resilience capabilities in managing disruptions. Additionally, the potential for cross-tier collaboration and knowledge sharing to enhance overall supply chain resilience is highlighted.
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Chaofeng Shen, Jun Zhang and Yueyang Song
Accurately predicting the installed capacity of wind energy is essential for energy strategic planning, given the growing need for environmental protection worldwide and the quick…
Abstract
Purpose
Accurately predicting the installed capacity of wind energy is essential for energy strategic planning, given the growing need for environmental protection worldwide and the quick development of renewable energy. In order to provide an unprecedented high-precision scheme for wind energy installed capacity prediction and to further become the primary driving force in the process of energy planning and decision-making, this research focuses on overcoming the limitations of conventional prediction models and creatively proposes a multi-parameter collaborative optimization GM(1,1) power model. This will help the energy field advance in a more efficient and scientific direction.
Design/methodology/approach
The theoretical framework of the fundamental GM(1,1) power model is thoroughly examined in this study and serves as the basis for further optimizations. To unlock the potential of each parameter optimization, single-parameter optimization investigations of the model are conducted from the viewpoints of the fractional optimization, background value optimization and grey action optimization, respectively. Conversely, an inventive multi-parameter collaborative optimization power model is built. The model is given dynamic flexibility by adding time-varying parameters. The sine function and interpolation technique are used to further optimize the background value. The model’s meaning is enhanced by the inclusion of a power exponent. Furthermore, several parameters are cooperatively tuned with the aid of the sophisticated Firefly algorithm, giving the model stronger predictive powers. A multi-dimensional and multi-regional model comparison analysis is formed by selecting the wind energy installed capacity data of North America, Italy, Japan and South Korea for in-depth empirical analysis in order to confirm the model’s validity.
Findings
The findings show that the multi-parameter collaborative optimization model (Model 5) has an exceptional in-sample and out-of-sample prediction effect. The relative prediction error MAPEs are 0.41% and 0.31%. It has a clear advantage over the simple GM(1,1) power model and other single optimization models in applications in North America, South Korea, Japan, and Italy. Its seven variable parameters are the reason for this. These factors help create a very accurate prediction effect through joint optimization from multiple perspectives. It is noteworthy that Model 4’s nonlinear optimization of the grey action is impressive. It performs better than background value optimization and fractional-order optimization. Furthermore, according to the model’s prognosis, North America’s installed wind energy capacity is expected to develop linearly and reach 513.214 bn kilowatts in 2035. This gives the planning for energy development in this area a vital foundation.
Originality/value
The novel idea of the multi-parameter collaborative optimization GM(1,1) power model and its clever integration with the firefly method to accomplish parameter optimization constitute the fundamental value of this study. The substantial benefits of multi-parameter optimization in the stability of the prediction effect have been firmly validated by a thorough comparison with the basic and single-optimization models. Like a lighthouse, this novel model illuminates a more accurate path for wind energy installed capacity prediction and offers high-value reference bases for a variety of aspects, including government energy planning, enterprise strategic layout, investor decision-making direction, fostering technological innovation, advancing academic research and developing energy transformation strategies. As a result, it becomes a significant impetus for the growth of the energy sector.
Highlights
- (1)
This study proposes a new gray prediction model. Compared with the traditional grey prediction model, the modeling mechanism of this model is optimized.
- (2)
This study is based on multi-parameter collaborative optimization to achieve the improvement of model prediction effect. The traditional grey model is two-parameter, while the model proposed in this study is seven-parameter collaborative optimization;
- (3)
In this study, swarm intelligence algorithm-firefly algorithm is used to optimize the hyperparameters, so as to obtain the best cooperative optimization multi-parameter values;
- (4)
The application of the model is divided into two parts: empirical and application. In the empirical stage, 5 kinds of prediction models are used to predict, which proves that the model proposed in this paper is effective and improves the prediction accuracy. The application part uses the model to forecast the installed wind power capacity in North America, and the future development trend is linear growth, which is expected to double the installed capacity by 2035.
This study proposes a new gray prediction model. Compared with the traditional grey prediction model, the modeling mechanism of this model is optimized.
This study is based on multi-parameter collaborative optimization to achieve the improvement of model prediction effect. The traditional grey model is two-parameter, while the model proposed in this study is seven-parameter collaborative optimization;
In this study, swarm intelligence algorithm-firefly algorithm is used to optimize the hyperparameters, so as to obtain the best cooperative optimization multi-parameter values;
The application of the model is divided into two parts: empirical and application. In the empirical stage, 5 kinds of prediction models are used to predict, which proves that the model proposed in this paper is effective and improves the prediction accuracy. The application part uses the model to forecast the installed wind power capacity in North America, and the future development trend is linear growth, which is expected to double the installed capacity by 2035.
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Sana Goher, Zaheer Abbas and Muhammad Yousuf Rafiq
The boundary layer flow of immiscible fluids plays a crucial role across various industries, influencing advancements in industrial processes, environmental systems, healthcare…
Abstract
Purpose
The boundary layer flow of immiscible fluids plays a crucial role across various industries, influencing advancements in industrial processes, environmental systems, healthcare and more. This study explores the thermally radiative boundary layer flow of a shear-driven Ree–Eyring fluid over a nanofluid. The investigation offers valuable insights into the intricate dynamics and heat transfer behavior that arise when a nanofluid, affected by thermal radiation, interacts with a non-Newtonian Ree–Eyring fluid. This analysis contributes to a deeper understanding of the complex interactions governing such systems, which is essential for enhancing efficiency and innovation in multiple applications.
Design/methodology/approach
The simulation investigates the convergence of boundary layers under varying shear strengths. A comparative analysis is conducted using
Findings
The temperature of the Al2O3 nanoparticles is always higher than the
Originality/value
The results stated are original and new with the thermal radiative boundary layer flow of two immiscible Ree–Eyring fluid and Al2O3/
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Mohammad Alta'any, Salah Kayed, Rasmi Meqbel and Khaldoon Albitar
Drawing on signalling and impression management theories, this study aims to examine a bidirectional association between managerial tone in earnings conference calls and financial…
Abstract
Purpose
Drawing on signalling and impression management theories, this study aims to examine a bidirectional association between managerial tone in earnings conference calls and financial performance.
Design/methodology/approach
The sample includes non-financial firms listed in the FTSE 350 index during the period 2010–2015. Managerial tone was measured using positive and negative keywords based on the Loughran-McDonald Sentiment Word Lists, while return on assets was used as a proxy for firms’ financial performance.
Findings
The findings indicate that current financial performance positively affects the managerial tone in earnings conference calls. Likewise, the results also show that there is a positive relationship between managerial tone in earnings conference calls and firms’ future financial performance.
Practical implications
The results have important implications for top management to use more virtual communication media (i.e. earnings conference calls) to continue managing their relationships with financial stakeholders and helping them better understand financial performance, especially in countries where holding such calls is not yet part of firms’ policy.
Originality/value
To the best of the authors’ knowledge, this is one of the first studies that explore the relationship between managerial tone in earnings conference calls and financial performance. Overall, this study contributes to managerial tone literature and holds significant theoretical and practical implications.
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Michele Rubino and Ilaria Mastrorocco
Considering the growing emphasis on sustainability, companies are developing green innovation strategies for creating new products and processes that reduce environmental effects…
Abstract
Purpose
Considering the growing emphasis on sustainability, companies are developing green innovation strategies for creating new products and processes that reduce environmental effects. The impact of green innovation on firm performance is well established in the literature; however, the relationship between a firm’s adoption of green innovation and its social behaviour has not yet been explored. This study aimed to fill this gap by analysing the impact of green innovation on companies’ social behaviour, at both the overall and sub-dimensions levels.
Design/methodology/approach
This study was conducted on a sample of 191 companies worldwide between 2016 and 2019. Company data were extracted from the Joint Research Centre database established by the European Commission and the Organisation for Economic Cooperation and Development. In contrast, data on corporate social behaviour was taken from the LSEG Workspace database. We applied a panel regression using a fixed effects model to test the research hypotheses.
Findings
The results support the positive impact of green innovations on corporate social behaviour in the immediate and subsequent periods. However, the empirical results do not provide significant evidence for some dimensions of corporate social behaviour, such as respect for human rights and product responsibility.
Originality/value
The study’s novelty lies in its emphasis on how green innovation shapes corporate social behaviour and enhances stakeholder relationships. Green innovation is introduced as a strategic instrument for meeting social duties and increasing trust, loyalty and ethical engagement with important stakeholders.
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Rickard Enstroem and Bhawna Bhawna
This chapter explores the transformative potential of integrating Artificial Intelligence (AI) with virtual reality (VR) in developing adaptive learning and development (L&D…
Abstract
This chapter explores the transformative potential of integrating Artificial Intelligence (AI) with virtual reality (VR) in developing adaptive learning and development (L&D) programmes. Traditional L&D methodologies are increasingly inadequate in the face of rapidly changing business environments. AI and VR technologies offer unprecedented opportunities to personalise learning experiences, enhance engagement and improve outcomes. This chapter provides a comprehensive overview of current trends, applications, challenges and future directions of AI and VR in L&D. Key findings emphasise the role of these technologies in fostering continuous learning cultures, addressing individual learner needs and enhancing organisational effectiveness. Practical insights and case studies are included to guide HR professionals in leveraging AI and VR for innovative and effective L&D programmes.
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This chapter explores how virtual reality (VR) distinguishes itself in terms of immersion within the field of video games. Central to this inquiry is whether VR represents a…
Abstract
This chapter explores how virtual reality (VR) distinguishes itself in terms of immersion within the field of video games. Central to this inquiry is whether VR represents a revolutionary new gaming paradigm or merely the latest medium falling short of gamers’ expectations. The discussion begins by examining the concepts of immersion and presence, highlighting their overlapping properties and how VR's capability to merge perspective and interaction enhances these experiences. Immersion involves sensory stimulation, narrative attachment and player agency within virtual environments (VEs), while presence is defined as the sensation of inhabiting a virtual universe. The chapter addresses VEs, diegesis and fictional worlds, building on the narratology and ludology debate. It chapter assesses the roles of environmental storytelling and the world inhabiting effect in games, particularly open-world role-playing games set in fantasy and science fiction universes. These games offer players active participation in narrative construction, enhancing immersion. Furthermore, the analysis compares third-person and first-person points of view (POV) in flat-screen games with VR's unique integration of POV, point of action and point of interaction. VR's intuitive interface fosters a profound emotional response and a heightened sense of presence, breaking the fourth wall and blurring the line between gameworld and reality. This chapter concludes that while VR offers a distinct form of representation, it does not constitute a new gaming paradigm yet. However, advancements in the medium may soon bring VR closer to the immersive experiences envisioned by Janet Murray's holodeck.
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Muhammed Ashiq Villanthenkodath and Shreya Pal
Financial inclusion is acknowledged as a critical facilitator of the United Nations Sustainable Development Goals agenda for 2030. Therefore, this study aims to examine the…
Abstract
Purpose
Financial inclusion is acknowledged as a critical facilitator of the United Nations Sustainable Development Goals agenda for 2030. Therefore, this study aims to examine the asymmetric role of overall globalization on financial inclusion by controlling economic growth, urbanization and population for the selected South Asian countries.
Design/methodology/approach
Applying the nonlinear autoregressive distributed lag approach to cointegration explores the impact of overall globalization on financial inclusion in the presence of additional variables like economic growth, urbanization and population in the designed financial inclusion function.
Findings
The estimated econometric outcomes show that increasing overall globalization fosters financial inclusion while decreasing overall globalization reduces financial inclusion. Furthermore, a positive (negative) change in economic growth leads to an increase (decrease) in financial inclusion while varying short-run findings. Moreover, both positive and negative changes increase financial inclusion in the long run in connection with urbanization. Although the short-run results are not significant, the study finds that an increase (decrease) in population leads to a decrease (increase) in financial inclusion. Finally, to support the promotion of financial inclusivity throughout South Asia, several policies pertaining to financial inclusion are suggested.
Originality/value
To the best of the authors’ knowledge, this is the first study to examine the asymmetries related to overall globalization on financial inclusion by controlling economic growth, urbanization and population.