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The purpose of this paper is to investigate the influence of idiosyncratic risk on firm decisions.

By introducing managerial ownership as a key variable, the paper presents a parsimonious model to describe the consequences of idiosyncratic risk on firm decisions. Then the paper uses data from the Chinese stock market, in which the managerial ownership is very low (around 0.02 percent) to examine the model predictions.

The authors find that: first, the negative relation between idiosyncratic risk and firm investment, which is found in prior studies, tends to be insignificant when managerial ownership is very low; second, diversification, as an alternative firm decision to lower risk positively, relates to idiosyncratic risk despite lower managerial ownership; and third, this kind of positive relation is weaker for firms with more managerial incentives when diversification is endogenously modeled.

This paper provides new evidence to complement existing studies from developed markets, in which executives hold substantial stakes.

Blockchain technology (BT) is setting world-shattering standard in all type of transactions in business. BT has the prospective to drastically transform supply chain (SC). The main challenge is to enhance trust among the SC stakeholders. This paper aims to identify and prioritize the factors and its challenges that influence the adoptability of BT in SC. The prioritization of these factors will be helpful to the practitioners to decide the strategy of implementing the BT in SC.

The factors influencing adoption of BT are identified from the review of literature and expert opinion is used to rank the factors influencing the adoptability of BT in SC using grey relational analysis (GRA).

We identified and prioritized key factors: inter-organizational trust and relational governance as organizational challenge, data transparency and data immutability as technological challenge, interoperability and product type as operational challenge and social influence and behavioral intention as social challenge that influences adoptability of BT in SC.

The priority of these factors will guide future researchers and industry practitioners to plan rational and financial strategy for implementing BT in SC.