Population aging is a major demographic challenge in many regions, including Latin America, where rising old-age dependency ratios make older adults’ continued economic participation increasingly important. Entrepreneurship offers seniors a pathway to remain economically active, yet emerging markets often lack the institutional conditions needed to support venture creation among this group. Drawing on institutional theory and the Entrepreneurship Ecosystem (EE) framework, which emphasizes the formal and informal institutions that support entrepreneurial activity, this study examines how systemic EE components relate to senior entrepreneurship. We combine the Index of Dynamic Entrepreneurship (IDE) for Argentina, Brazil, Chile, Colombia, and Mexico with Global Entrepreneurship Monitor (GEM) individual-level data, comprising 15,019 observations of individuals aged 50 and above from 2013 to 2017. Using multilevel logistic regression, we analyze the probability of being an entrepreneur as a function of ten IDE components. Results show that entrepreneurial attitudes, cultural support, supportive social environments, and perceived entrepreneurial skills significantly increase seniors’ likelihood of starting new ventures. These findings extend EE theory to senior entrepreneurs in emerging markets and offer policy guidance for targeted training, mentorship, and knowledge support.
Tourism recommendation systems use artificial intelligence (AI), machine learning (ML), and data analytics to support travel decisions. This systematic literature review examines decision types, disciplinary distribution, themes, and research gaps in AI-based tourism recommendation research. Following the Preferred Reporting Items for Systematic Reviews and Meta Analyses (PRISMA) guidelines, we reviewed 75 Scopus indexed articles published between 2009 and 2025. The studies were classified into four decision types: Macro-Level destination guidance, Micro-Level place recommendations, Planning-Level itinerary and route planning, and Support & Service-Level recommendations. The findings show that research is concentrated in Micro-Level and Planning-Level recommendations, while Macro-Level and Support & Service-Level recommendations receive less attention. Most studies were published in computer science journals, with limited representation in tourism, business, and social science outlets. Keyword cooccurrence analysis identified six themes: applied analytics and social media, neural recommender systems and smart tourism, POI and route planning, classical ML techniques, tourism industry recommendation methods, and reinforcement learning-based trip planning. The findings identify future research opportunities to connect the four decision types across the travel journey, align data and system design with tourism-specific decisions and conditions, strengthen the use of tourism and business perspectives, and examine how emerging technologies can support traveler needs, tourism organizations, service coordination, and practical smart tourism applications. It contributes a decision oriented framework and future research agenda for tourism recommendation systems.
Micro-enterprises operating in displacement settings face persistent working capital instability, where interruptions in liquidity can threaten enterprise continuity. Entrepreneurial finance research has focused largely on access to formal credit, with less attention given to how capital circulates once mobilised. Drawing on semi-structured interviews with 39 refugee women entrepreneurs participating in community savings groups in Nakivale Refugee Settlement, Uganda, this study examines how collective financial arrangements shape enterprise continuity under conditions of financial exclusion. Reflexive thematic analysis identified four interrelated processes: liquidity compression, collective liquidity governance, cyclical recalibration and conditional stabilisation. Enterprise continuity depended less on the amount of capital available than on the predictability with which capital circulated through regular contributions, cyclical lending and peer-enforced accountability mechanisms. Community savings groups operated not simply as sources of credit but as governance arrangements regulating the timing and sequencing of working capital flows. The study shifts analytical attention from capital access to capital governance and introduces informal financial governance as a mechanism through which the circulation of capital becomes organised under conditions of financial exclusion.
While the global banking sector has become a critical field of sustainability governance, the academic literature on sustainable banking is geographically and theoretically disproportionate and lacks integration. This study outlines the intellectual structure of the field by conducting a bibliometric analysis of 1,890 peer-reviewed documents from January 2000 to April 2026 retrieved from the Scopus database and screened according to PRISMA 2020 protocol. The study was conducted using a two-phase design. First, performance analysis using VOSviewer and the R package with the Biblioshiny interface. Second, the results were interpreted from the integrated perspective of institutional theory and the R = MC2 organizational readiness framework. Findings reveal a 17.69% compound annual growth rate driven by coercive and normative institutional pressures, marginalization of Sub-Saharan Africa (approximately 7.2% of corpus output from only seven of 49 countries), and near absence of organizational readiness constructs from the field’s intellectual core. The study’s contribution is an integrated framework in which institutional pressures act as antecedents whose effects on green lending and sustainability reporting outcomes are proposed to be channeled through R = MC2 readiness capacities, generated from the synthesis rather than a bibliometrically demonstrated mechanism bridging literatures and offering a structure for distinguishing motivated adoption from substantive implementation.
Cross-border intra-group debt is governed by several legal regimes that may apply concurrently to the same payment. Transfer-pricing rules, anti-hybrid provisions, earnings-stripping limits, treaty-abuse tests and the Pillar Two minimum tax were developed in different institutional settings and were not designed to operate as an integrated system. This article conceptualises their cumulative application as a form of layered tax governance. Combining doctrinal analysis with institutional complexity and organisational information-processing theory, it traces a single intra-group loan through each filter and compares its implementation in the UK, Germany and India. The layers prove individually coherent but only partially aligned in their definitions, evidential standards, documentation requirements and relief mechanisms. Overlap is most pronounced among treaty-abuse, beneficial-ownership and substance-based tests, while recent German reforms show that layering can also arise within a single domestic system. The tax burden and the compliance burden must be distinguished: two rules may substitute in fiscal effect while remaining cumulative in the evidence they require. The resulting burden depends not only on the number of rules but also on their non-interoperability, firms’ internal tax-governance capabilities, and the administrative capacity of tax authorities. Six propositions are developed for empirical testing, with implications for boards, treasury and regulatory design.
Although previous narrative and systematic reviews have examined Strategic Management Accounting (SMA), bibliometric science mapping has not yet been used to quantitatively analyse its intellectual structure. This research addresses this gap by providing the first dedicated bibliometric analysis of SMA, utilising 212 Scopus-indexed publications from 1990 to 2026. Through keyword co-occurrence network analysis and thematic mapping, the study investigates the growth trajectory, intellectual foundations, and thematic landscape of SMA scholarship. The field demonstrates sustained moderate growth (CAGR 7.3%, moderating to 6.1% through 2025), with customer accounting, strategic costing, and balanced scorecard identified as the core themes. A significant and previously unquantified gap is revealed: SME-related keywords account for less than one percent of all keyword occurrences, and only nine articles (4.2%) explicitly address SMA in SME contexts. This positions SMEs as a peripheral research frontier, despite their considerable economic importance in developing economies. This study contributes the first data-driven intellectual map of SMA scholarship and a structured research agenda for advancing SMA in SME and developing-country contexts.
This study examined how corporate governance mechanisms moderate the relationship between firm size and financial distress in Indonesia. Departing from prior research that dichotomizes firms, we employ a continuous moderation framework to capture how governance effectiveness varies across the firm size spectrum. Using panel data regression on 480 firm-year observations from Indonesian manufacturing firms (2019–2023), we test the moderating effects of managerial ownership, institutional ownership, audit committee size and independent commissioner proportion on the size-distress relationship. Firm size significantly increases financial distress risk, challenging the ‘too-big-to-fail’ assumption. Managerial ownership (β = 0.300, p < 0.01) and institutional ownership (β = 0.229, p < 0.01) significantly weaken the positive size-distress relationship, consistent with agency theory. However, audit committee size strengthens this relationship (β=-0.088, p < 0.05), suggesting that larger committees may impose compliance costs without commensurate monitoring benefits. Independent commissioners show no significant moderating effect (β=-0.105, p > 0.10), indicating symbolic rather than substantive independence. Governance quality, not merely quantity, determines financial resilience. Ownership-based mechanisms prove more effective than board-based mechanisms in mitigating distress risk. Regulators should prioritize ownership structure disclosure over quantitative board composition requirements; investors should incorporate governance-quality assessments into risk evaluation; managers should recognize that ‘more governance’ does not necessarily mean ‘better governance’.
Increasing environmental awareness and rising health concerns have shifted consumer preferences toward environmentally responsible products, particularly in sensitive categories such as baby care, aligning with Sustainable Development Goals (SDG 3 and SDG 12). However, the psychological mechanisms underlying green purchase intention remain insufficiently understood. A preliminary survey indicated higher consumer engagement with natural baby care products, justifying the focused scope of this study. Grounded in the Theory of Planned Behavior, this study examines product knowledge as an antecedent to attitude and green skepticism as a moderating factor influencing green purchase intention. Data were collected from 526 parents using convenience and purposive sampling through a structured questionnaire and analysed using structural equation modelling (SEM). The findings highlight the significant role of attitude and the moderating influence of green skepticism. The study offers important theoretical and managerial implications for promoting green consumption.
Using panel data on Chinese A-share listed industrial firms from 2014 to 2023, this study examines the nonlinear associations between command-and-control environmental regulation, market-incentive environmental regulation, and firms’ digital transformation. The results show a U-shaped relationship for command-and-control regulation, with a turning point of 0.433. Market-incentive regulation exhibits an inverted U-shaped relationship, with a turning point of 10.415. These patterns remain broadly consistent across lagged, restricted-sample, province-clustered, outlier, and alternative-measure specifications. Heterogeneity analysis shows that the command-and-control relationship is concentrated among lightly polluting firms, whereas the market-incentive relationship appears in both pollution groups. Further analysis points to high-quality green innovation as a potential channel. An alternative measure based on digital-related intangible assets produces similar coefficient signs but weaker statistical significance. The findings indicate that this relationship depends on regulatory type, intensity, and firm context.
Changes in tax regulations complicate tax reporting and may undermine tax compliance. This study examines the moderating role of fairness in the relationship between complexity and employees’ tax compliance within an entity subject to changes in tax regulations. The complexity of employee tax reporting has increased since the state university was established as a legal entity. The sample comprises 165 employees at a state university in Semarang, Indonesia. The data were collected through an online survey. This study employed WarpPLS to analyze the data. This software is employed for its resampling ability. This study conducted moderated regression analysis to examine the hypotheses. The dependent variable is tax compliance. The independent variable is complexity. The moderating variables are procedural fairness and distributive fairness. The results showed that complexity significantly decreases employee tax compliance. Distributive justice helps weaken the negative effect of complexity on tax compliance. However, procedural fairness did not weaken the negative association of complexity and tax compliance. Overall, the effect size of the predictors on the criterion is between the weak and medium categories. This research underscores the importance of fairness in fiscal policy and the challenges of simplifying tax reporting.
Green entrepreneurship has emerged as an effective response to climate change and global environmental degradation. However, university students continue to struggle to convert entrepreneurial intentions into action due to unclear success indicators, limited understanding of stakeholder responsibilities, and inadequate institutional support. This study develops a green entrepreneurial intention formation model for university students by identifying success indicators, stakeholder responsibilities, supporting activities, and development strategies. A Systematic Literature Review was conducted following the PRISMA 2020 protocol, using data retrieved from Scopus and Web of Science. Quality was appraised using the Mixed Methods Appraisal Tool (MMAT) 2018, and thematic analysis was performed using NVivo 14. Of 903 identified articles, 50 met the inclusion criteria, with 90% achieving high-quality standards. Self-efficacy emerged as the primary success indicator (12.9%), bridging the Theory of Planned Behavior and Social Cognitive Theory. Four stakeholder groups were identified: government, universities, family and peers, and industry partners. Fifteen supporting activities were mapped, with the green curriculum showing the strongest evidence. The proposed model comprises seven interrelated, overlapping stages, from environmental awareness to green entrepreneurial behavior. The main contribution is an integrated, theory-driven model that consolidates fragmented evidence into a practical framework for universities and policymakers.
Cooperative–MSME networks have re-emerged as important organisational arrangements for sustaining competitiveness amid market rivalry and economic volatility. This study examines whether coopetition intensity affects economic sustainability through knowledge sharing and innovation performance, and whether cooperative governance quality and absorptive capacity strengthen these relationships. A quantitative explanatory survey was conducted using firm-level data from 258 MSMEs affiliated with multipurpose cooperatives in Central Java, Indonesia. The moderated serial mediation model was analysed using PLS-SEM in SmartPLS with bootstrapped tests of direct, indirect, and interaction effects. The results show that coopetition intensity positively influences knowledge sharing, which improves innovation performance and economic sustainability. Governance quality strengthens the relationship between coopetition intensity and knowledge sharing, while absorptive capacity strengthens the relationship between knowledge sharing and innovation performance. Although the direct effect of coopetition intensity on economic sustainability is not significant, its sequential indirect effect through knowledge sharing and innovation performance is significant. These findings indicate that coopetition supports economic sustainability when cooperative interaction facilitates knowledge exchange and MSMEs can translate shared knowledge into innovation. Cooperative leaders and policymakers should therefore strengthen governance, knowledge-sharing mechanisms, and MSME learning capabilities.
This study examines the relationships among customer experience, perceived value, satisfaction, and loyalty, emphasizing how customer experience is strategically vital for fostering loyalty and driving competitive advantage. A self-administered questionnaire was given to 415 respondents from boutique hotels. The data were employed for structural equation modeling (SEM), necessary condition analysis (NCA), and importance-performance map analysis (IPMA) of the structural model. PLS-SEM highlights significant direct and mediating effects among most constructs. However, perceived value has an insignificant direct influence on customer loyalty. NCA results show that customer experience, perceived value, and satisfaction are necessary conditions for achieving high levels of customer loyalty. IPMA identifies customer experience as the most influential factor, with the highest importance score, underscoring its strategic significance for loyalty enhancement. The results provide practical insights for boutique hotel managers aiming to strengthen customer loyalty through experiential value and satisfaction-driven strategies. The study contributes to theoretical understanding and managerial practices within the hospitality industry.
This study examines changes in consumer responses to price promotions during the COVID-19 pandemic. We measure the effect of two promotional tools (discounts and double reward points) on sales before and after the pandemic outbreak, while accounting for the heterogeneity in behavioral changes across five product categories. We use weekly sales data collected by a large online marketplace from January 2019 to December 2020. The results reveal that consumer responses to price promotions increased for all five product categories during the pandemic. However, the impact is more pronounced for food, hygiene, and privately consumed products than for durable and hedonic products. Finally, the timing of the structural break varies across categories, and the change in double-reward-point promotions exceeds that in discount promotions.
Branding research has shifted from traditional constructs such as brand loyalty, brand equity, and customer satisfaction towards contemporary concerns of digital, socially constructed, and ethically grounded branding. This shift reflects the growing influence of social media, influencer marketing, and consumer participation on how brands are perceived, experienced, and evaluated. Against this backdrop, this study offers a comprehensive analysis of branding literature, with particular emphasis on brand relationships and consumer intentions. Using bibliometric techniques including citation analysis, co-authorship analysis, keyword co-occurrence analysis, and thematic evolution analysis, the study identifies the leading contributors to the field. India, Malaysia, and the United States emerge as the most productive countries by publication volume, while citation analysis demonstrates the global reach of high-performing research clusters. Co-authorship analysis reveals regional and international collaboration, underscoring the interconnectedness of branding scholarship worldwide. Thematic analysis exposes a dichotomy between established constructs such as trust, brand loyalty, and purchase intention, and emerging themes such as influencer marketing, parasocial interaction, brand activism, and digital branding. Trend topic and thematic evolution analyses point to a growing movement towards interdisciplinarity and socially constructed branding paradigms. The findings map the intellectual structure of the field and identify directions for future research on brand and consumer relationships in digital environments.
This study investigates how women entrepreneurs in Greater Vitória, Espírito Santo (Brazil), navigate entrepreneurial decision-making within a microenterprise-dominant regional economy. Drawing on Stewart’s Demand–Constraint–Choice (DCC) framework, the study uses a qualitative interpretive design based on 24 semi-structured interviews across service, commercial, and community-oriented sectors. Findings show that entrepreneurial decision-making reflects the interaction of layered demands, intersecting constraints, and adaptive agency. Women simultaneously negotiate market, operational, socio-emotional, and mission-related demands while responding to mutually reinforcing financial, labor, institutional, and gendered constraints. Entrepreneurial agency emerges as a process of adaptive calibration balancing economic viability, relational responsibilities, and long-term sustainability. The study refines the DCC framework in three ways: conceptualizing demands as multidimensional and simultaneous, constraints as cumulative and mutually reinforcing, and choice as a relationally and territorially embedded process of adaptive decision-making. By foregrounding the underexamined subnational context of Greater Vitória, the study also advances regional entrepreneurship scholarship by demonstrating how localized institutional conditions and market structures shape women’s entrepreneurial action in emerging economies.
The relationship between top management team (TMT) diversity and firm performance remains theoretically contested. This study examines when and how TMT heterogeneity is associated with firm value creation efficiency (VCE) through a dual-pathway model. Using an unbalanced panel of Chinese A-share listed firms from 2015 to 2024, the main mediation models include 34,823 firm-year observations, while the regional moderation model includes 34,649. Disclosed AI strategic orientation (AIO) is measured as ln(1 + ai_index), where ai_index captures the cosine similarity between sentence-transformer embeddings of a 73-term AI dictionary and AI-related sentences in annual-report management discussion and analysis sections. Industry and year fixed-effects models with firm-clustered standard errors show that TMT heterogeneity is negatively associated with VCE, positively associated with disclosed AIO, and linked to VCE through a positive but economically modest indirect pathway. A firm-cluster bootstrap yields an indirect effect of 0.000084 (95% percentile confidence interval [0.000019, 0.000151]). Regional digital infrastructure strengthens the disclosed AIO-VCE association. These results represent conditional associations rather than causal evidence, and disclosed AIO should not be interpreted as verified AI implementation.
This study investigated how organisational culture influences innovation in project-based non-profit organisations (NPOs) in South Africa, with a focus on the mediating role of knowledge sharing. Drawing on the Resource-Based View (RBV) and the Knowledge-Based View (KBV), the research conceptualised organisational culture as a strategic resource and knowledge sharing as a dynamic capability that enables innovative behaviours. Using a cross-sectional survey of 253 employees across multiple NPOs within the Solidarity Movement, South Africa, quantitative analyses revealed that organisational culture significantly enhanced both knowledge sharing and innovation. Furthermore, knowledge sharing partially mediated the relationship between organisational culture and innovation, underscoring its role as a critical mechanism for translating cultural values into creative outcomes. Findings provide both theoretical and practical insights into fostering innovation through organisational culture and knowledge management in resource-constrained, project-driven environments.
Performance management systems are widely adopted, yet productivity outcomes remain inconsistent, even among organisations using the same established frameworks. This paper develops a prescriptive design proposition for performance management system architecture in non-listed Indonesian oil and gas state-owned enterprises. Using Constructive Research Methodology, six design criteria are derived from a PLS-SEM study of 256 mid-to-senior managers, then tested for convergence against independent design requirements drawn from the performance measurement literature. Six established frameworks are audited against these criteria using a documented, independently double-coded protocol. The resulting six-layer architecture specifies a Governance Integration Layer, a Strategy Translation Protocol, a Behavioural Activation Module, an Execution Consistency System, a Serial Execution Chain Architecture, and an Integrated Feedback and Learning Loop. Content validity was assessed through a two-round Delphi study with 15 experts. Governance integration and execution consistency are the two criteria least specified as named architectural components in the frameworks reviewed. The paper contributes a re-derivation procedure for obtaining context-specific design criteria from structural evidence, an instrumented specification of execution consistency, and governance specified as a named design layer with assigned actors, mechanisms and review cadences. As no organisation has implemented the framework, a protocol for effectiveness testing is specified for further research.
Peer-to-peer (P2P) lending expands access to credit but also raises concerns regarding platform performance, default risk, and long-term sustainability. Despite growing scholarly interest, systematic reviews focusing specifically on P2P lending performance remain limited and conceptually fragmented. This study conducts a systematic literature review following PRISMA 2020 guidelines, examining 179 Scopus-indexed articles published between 2008 and 2025 and limited to Q1–Q3 SJR journals. Descriptive bibliometric analysis and VOSviewer mapping are used to identify publication trends, leading journals, contributing countries, key documents, and the field’s intellectual structure. The findings reveal five thematic clusters dominated by loan-level prediction, credit-risk modeling, and machine-learning techniques, whereas strategic and organizational perspectives remain underexplored. The review identifies five interrelated gaps: the underexplored role of digital leadership, limited attention to organizational capabilities, inadequate treatment of platform-level perceived risk, insufficient conceptualization of innovation, and narrow performance measures. Building on these findings, the study proposes an integrated framework linking these factors to P2P lending performance, with implications for theory development, managerial practice, and regulatory policy.
