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Some scholars argue that corruption hinders economies and investment because it generates extra costs, while others suggest that it can act as a stimulus. Their mixed empirical findings have prompted the analysis of whether investors' attitude towards corruption changes depending on its degree of prevalence.

The authors examined 4,518 public–private partnerships (PPPs) located in 46 developing countries for the period 1997–2017. The data were collected from the World Bank PPP database. The authors investigated the relationship between the amount of investment in PPP projects and the level of corruption using regression with multilevel mixed effects.

Corruption and the amount of investment in PPP projects are inversely related at the low and high end of the spectrum of corruption, but the relationship is positive towards the middle. Further analysis revealed that this was spurred by high investment PPP projects in less developed countries.

The findings allow the authors to reconcile the opposing positions in the literature through a “sand–grease–sand the wheels” effect between the volume of investment and corruption, which can be configured as a reverse S-shape consisting of three stages.

This study aims to examine style-deviation practices in the socially responsible mutual funds (SMRF) industry i.e. how mutual funds game their stated financial objectives to earn a higher relative performance ranking. In addition, the consequences of such practices on sustainable scores and money flows are studied.

A sample of 454 US equity SRMFs is studied. This paper uses panel regressions controlling for time and style fixed-effects.

This study finds that 17.60% of SRMF managers in the sample are engaged in style deviation practices. These practices positively impact the sustainable performance of SRMFs and negatively impact their financial performance. One effect offsets the other and they consequently do not affect money flows. Another finding is that only investors with lower portfolio sustainability scores do show return-chaser behaviour.

This paper reveals that SRMF managers deviating from their stated financial style face a dilemma that is non-existent for their conventional peers that is style deviation practices affect financial and sustainable performance in opposing ways, whereas SRMF investor utility depends positively on both dimensions. The findings are not conclusive about the effectiveness of style deviation practices in attracting SRMF money flows.

SRMF industry has experienced tremendous growth in the past decade. The increased competition in this industry has led managers to strive to attract investors, sometimes by relying on irregular practices that enhance their portfolio results. Regulators should consider how to avoid such perverse behaviour with a view to improving mutual funds transparency.

This is the first research that analyses style deviation practices and their consequences for the SRMF industry.

The purpose of this paper is to investigate how family ties in new venture teams (NVTs) influence the intended future growth of a nascent entrepreneur’s business. The authors posit that R&D-oriented entrepreneurs in NVTs with family ties have higher growth intentions relative to those who are less oriented toward R&D.

The hypotheses were tested using data from the Panel Study of Entrepreneurial Dynamics II (PSED II). One distinctive feature of the PSED is that it is based on a random sample of 1,214 nascent entrepreneurs in the process of starting new ventures in the USA, which overcomes the recall biases associated with surveying entrepreneurs already in business and potential survivorship biases.

The results show that growth intentions in NVTs with family ties is greater when the nascent entrepreneur shows an R&D behavior, even though the presence of family members in the team is negatively related to the intentions of nascent entrepreneurs with regard to new venture growth. This effect is attributed to entrepreneurs’ long-term vision and a more favorable attitude toward change.

Data on startup teams in the PSED II come from one team member (the respondent). Therefore, differences in perceptions regarding growth intentions cannot be determined. Moreover, the sample consisted exclusively of nascent entrepreneurs in the USA.

Knowledge about the determinants of growth intentions during the venture creation phase becomes relevant if we want to influence and support the growth of newly founded firms. Nascent entrepreneurs need to understand the trade-off between emotional and financial concerns.

Nascent entrepreneurs more oriented toward R&D become more risk tolerant, and may accept certain losses to their emotional endowment in favor of pure financial goals, being more able to access the additional external resources (tangible and intangible) needed for growth.

The research expands previous evidence on the family involvement-performance debate in large firms by focusing on new ventures with family ties, with distinctive characteristics that may affect growth intentions. The authors also shed new light on the interplay between family business and entrepreneurship. In particular, the research helps gain an understanding of how NVTs with family ties deal with the opposition between the benefits from venture growth and the tendency to preserve team member’s emotional attachment.

This study analyzes antecedents explaining the lack of resilience in family-owned firms. Our model suggests that family-owned firms’ strategic behaviors and heterogeneity explain a particular crisis outcome: a lack of recovery.

Our evidence is based on a sample of 842 European family-owned firms. We complement regression analysis results with fuzzy-set qualitative comparative analysis (fsQCA).

Our results show that lack of resilience is relevant. In fact, in our sample, 60% of family firms (FFs) failed to recover their sales. This evidence supports the role played by exploitation and exploration behavior as well as family heterogeneity in explaining the lack of recovery.

Our results may offer guidance to practitioners and policymakers on the pathways that explain the lack of resilience.

Although it is unlikely that an external crisis such as COVID-19 will occur again to the same extent, other threatening events may occur and impact FFs. Understanding how FFs can avoid non-recovery is crucial: it can inform managers on how to deal with stressful events and provide guidance to economic authorities on how to help FFs around the world avoid non-recovery, which affects the economy.

First, the study contributes to FF research by offering a theoretical explanation for the different effects of FF attributes on non-recovery in the context of a global crisis. Second, it contributes to the literature on organizational resilience by examining explorative and exploitative behaviors as antecedents of FF non-recovery. Third, we show the usefulness of combining fsQCA and regression analysis to understand complex phenomena.

本研究擬分析家族企業缺乏復原力的原因。我們的模型暗示了家族企業的策略性行為和異質性是可闡明一個特殊的危機後果：企業未能成功恢復。

我們的證據是建基於一個涵蓋842間歐洲家族公司的樣本。我們以模糊集質性比較分析，去補充迴歸分析的結果。

研究結果顯示，缺乏復原力是有相關性的。事實上，在我們的樣本裡，有百分之六十的家族企業未能恢復其銷售量。研究結果提供了證據，確認了若要闡明缺乏復原力的原因，我們必須瞭解開發和探索行為、以及家族異質性所扮演的角色。

我們的研究結果，或許可為從業人員和政策制訂者提供引導，幫助他們找出缺乏復原力的原因。

雖然像2019冠狀病毒病的外部危機以同樣的程度發生的機會是很微的，但其它有威脅性的事件或會發生，並會影響家族企業; 因此，瞭解家族企業如何能避免缺乏復原力的弊端是非常重要的。這可讓經理瞭解如何處理令人憂慮的事件，亦可為經濟事務當局的高層人員提供引導，幫助他們瞭解如何協助世界各地的家族企業，去避免影響經濟的復原乏力。

首先，本研究在家族企業的探討上作出了貢獻。研究人員在一個全球危機的背景下提出了理論解釋，讓人們明白家族企業的屬性，如何會對復原乏力產生各種影響。其次，本研究在探討組織彈性的文獻方面作出了貢獻，因研究人員對作為引發家族企業復原乏力因素的探索和開發行為、進行了探討和研究。最後，研究人員展示了若要瞭解複雜的事物或現象，把模糊集質性比較分析和迴歸分析結合起來運用是有效的。

This study investigates the personal factors influencing innovative entrepreneurship combined with additional contextual insights from high-income European countries. Specifically, this study has three main objectives: (i) to measure differences in the level of entrepreneurial innovativeness activity among high-income European regions; (ii) to uncover key factors leading to appropriate levels of entrepreneurial innovativeness and (iii) to suggest policies that may enhance the regional level of entrepreneurial innovation.

A sample of 4,430 nascent and new entrepreneurs from 16 different high-income European countries drawn from the Global Entrepreneurship Monitor (GEM) Adult Population Survey (APS) was used in conjunction with macroeconomic indicators. Data were analyzed using a logistic regression analysis.

There are significant differences in the conditions that influence entrepreneurial innovativeness in European regions. These variations in entrepreneurial activity can be explained using contextual factors and individual characteristics. Although technological novelty increases the probability of innovative entrepreneurship, the technology effect is significantly greater in Western Europe than other regions across Europe.

This study illustrates how a contextualized view of entrepreneurship enriches the knowledge of the human and dynamic socioeconomic drivers that motivate innovative entrepreneurial action in high-income European countries.

The purpose of this study is to know the contribution of service-learning (SL) on the awareness-raising and sensitivity with regards to sustainable development goals (SDGs) in physical education teacher education (PETE) programs.

The research used a qualitative methodology with a case study design from an ethnographic-interpretative approach. The participants were 81 higher education level students from the PETE program. For the collection of information, the following techniques and instruments were used: non-participant observation, students’ portfolios, focus groups and group-interviews.

The main findings show the teaching positive features of SL experiences in the PETE students. In alignment with the sustainable development model, the findings suggest that SL can boost and strengthen knowledge, comprehension, sensitivity and compromise in relation to the SDGs. It can be concluded that SL allows teacher educators to train socially critical professionals and to progress toward a sustainable development.

SL emerges as an appropriate pedagogical model to meet the educational needs of higher education and to face global challenges in relation to the sustainable development of the planet.

This study aims to comprehensively examine sustainable mutual funds (SMFs) research by conducting a systematic literature review and bibliometric analysis of articles spanning 33 years from 1991 to 2023. This review seeks to uncover the principal contributors and the structural framework of knowledge within the realm of business, finance and management research concerning SMFs.

Following the “Scientific Procedures and Rationales for Systematic Literature Reviews (SPAR-4-SLR)” methodology, the author selected 597 documents for the analysis and collected the bibliographic information from the Scopus database. The author uses RStudio and VOSviewer software to address five research questions.

The findings indicate a notable expansion in research concerning SMFs within high-quality journals over the last 33 years. The review illuminates the principal contributors in SMFs research by using performance analysis based on journal, article, author, country and institution criteria. By using science mapping techniques, the author identifies five prevailing themes and outlines future research prospects in the domain of SMFs.

This review paper can serve as a roadmap for future researchers, aiding them in discerning the trending research topics within this domain.

To the best of the author’s knowledge, this is the first study that comprehensively provides an overview of different variants, diverse strands and research hotspots of SMFs literature. The study offers insight into the evolution of SMFs, showcasing their progression from a segmented market to a prominently specialized domain in the contemporary landscape.

The objective of this paper is to analyze whether the way that downsizing is implemented has any impact on the firm's performance.

The sample under investigation consists of a set of Spanish companies, which downsized between 1995 and 2001. The paper includes downsizing announcements and combines information from two different datasets (BARATZ and SABI). The focus is placed on the size of downsizing and the use of disengagement incentives.

A negative relationship between the size of downsizing and post‐downsizing corporate performance is found. In particular, firms which announced severe downsizing experience relatively lower performance in the year following the announcement.

The analysis advances organizational research by reinforcing the concept that firm performance is not only contingent on strategies, but also influenced by the means through which these strategies are implemented.

The purpose of this paper is to examine the joint effect of product and international diversification strategies on the performance of small and medium enterprises (SMEs) in Spain.

The authors rely on a panel data of small and medium Spanish manufacturing enterprises over the period 1993‐2006, collected from the Spanish Survey of Business Strategies.

The evidence reveals the existence of a negative relationship between geographic expansion and profitability. Likewise, the adoption of both product and international diversification is not associated with higher performance.

A promising avenue for future research is the analysis of firms located in different countries (for example, emerging economies), or the study of this issue considering factors such as the ownership structure (family firms, the role of the state and banks, etc.).

The authors' analysis underlines the fact that the distinctive particularities of SMEs – for example, limited resources, lack of previous experience in the adoption of new products and accessing new markets – might constrain diversification as an alternative for firm growth. As a practical implication, Spanish SMEs should overcome their shortcomings before adopting diversification in order to improve the profitability associated with these strategies.

Although Spain's economic structure is highly segmented and made up of mainly SMEs, research on these companies in this country is rather scarce. In particular, the distinctive characteristics of SMEs mean that diversification might have different performance implications than for larger companies. Moreover, the authors' analysis offers new insights compared to previous research, which has traditionally relied on cross‐section data.

This paper studies the juridical rationale for mandatory training provision on Temporary Help Agencies as established in the Spanish Temporary Help Agencies Act, 1994 (Law 14/94). No positive relationship is found between the improvement in Temporary Help Agencies' added value levels and their investments in temps' training. In analyzing this specific provision of Spanish Labor Law we adopt a positive focus to explain its impact on the functioning of the temporary help industry. The application of institutional theory leads us to conclude that efficient use of this legal prescription is limited. The issue is relevant to understanding the economic outcomes of regulation from a law and economics perspective.