Payment services in immersive virtual environments have become a critical component of economic transactions as the metaverse reshapes digital interaction and value exchange. This study develops an extended Technology Acceptance Model (ETAM) for the metaverse context to examine the determinants of metaverse payment service adoption and their impact on organisational sustainability practices and overall firm performance (OFP). Data were collected from 535 working professionals with metaverse experience using a purposive sampling approach and analysed using partial least squares structural equation modelling (PLS-SEM). The results indicate that perceived ease of use (MPEOU) and perceived sustainability benefits significantly enhance users’ attitudes towards metaverse payment services, while trust exhibits a significant but negative effect on attitude and a positive effect on behavioural intention (BI). Attitude towards usage (ATU) and technology readiness (TR) significantly influence BI, which strongly predicts actual usage (AU). AU, in turn, enhances environmental sustainability practices (ESP), which emerge as the strongest driver of OFP. In contrast, perceived usefulness (MPU) does not significantly influence attitude in the metaverse payment context. These findings extend technology adoption theory by highlighting the importance of usability, sustainability perceptions and trust dynamics in immersive financial environments. The study further demonstrates how metaverse payment usage contributes to sustainability practices and organisational performance, offering a multilevel perspective that connects user adoption behaviour with firm-level outcomes. The results provide strategic guidance for organisations seeking to enhance performance through secure, user-friendly and sustainability-oriented metaverse payment solutions.
In the face of escalating climate pressures and accelerating digital transformation, construction small and medium-sized enterprises (SMEs) in emerging economies confront the dual challenge of advancing sustainability while maintaining competitiveness. This study investigates how financial resources, green product innovation, artificial intelligence (AI) adoption and institutional support interact to shape sustainable competitive advantage (SCA) in Pakistan’s construction sector. Guided by an integrated framework, the resource-based view and natural resource-based view explain the role of resources and environmental capabilities; Dynamic Capabilities Theory (DCT) captures adaptive innovation processes; Socio-Technical Systems theory frames the human–technology interface in AI adoption; and Institutional Theory situates these dynamics within policy and regulatory contexts. Using survey data from 228 construction SMEs and analysing results through partial least squares structural equation modelling, the study finds that green product innovation fully mediates the relationship between financial resources and SCA. AI adoption, particularly in project design and logistics, strengthens this pathway, with greater effects in technology-mature SMEs. Institutional support significantly enhances the resource-to-innovation link, with regulatory clarity proving more influential than financial incentives alone. The findings highlight that sustainable advantage arises not from isolated capabilities but from their coordinated activation through innovation, targeted digital adoption and supportive institutional environments. This research offers a context-specific, theoretically integrated model and practical guidance for SME leaders and policymakers seeking to accelerate sustainability transitions in construction.
Small firms in emerging economies face strategic challenges in balancing environmental sustainability with economic performance. This longitudinal mixed-methods study examines 32 small enterprises in Barranquilla, Colombia, over an 18-month period, combining repeated quantitative measurements with qualitative interviews, site visits and follow-up workshops to analyse how environmental strategy implementation is associated with changes in resource efficiency and economic performance. Qualitative findings also highlighted marked sectoral differences in implementation pathways. Manufacturing and food-processing firms more frequently emphasised energy, water and waste controls as immediate operational priorities, whereas service and retail firms more often focused on procurement routines, packaging changes and administrative efficiency measures. Participants also reported that some sustainability dimensions were easier to adopt than others: green supply chain practices were often seen as feasible because they could be integrated into existing supplier relationships, while sharing economy practices were perceived as less compatible with current business routines, lower levels of digital integration and concerns about coordination or asset control. These qualitative patterns support the interpretation that the quantitative trends reflect gradual, context-dependent implementation processes rather than uniform or mechanically replicable effects.
Although prior research has generally reported a positive relationship between social entrepreneurship education (SEE) and social entrepreneurial intention (SEI), less is known about the actual process through which learners’ educational experiences translate into intention formation, especially in an emerging economy context. The study examines the effects of graduate learners’ participation in courses on social entrepreneurship on their perceptions of SEI in Vietnam. Using an interpretive qualitative design, this study involved in-depth interviews with 18 graduate learners from three different disciplinary clusters, and the data were analysed using inductive thematic analysis. The findings identify six interrelated themes through which SEE appears to influence SEI: capacity building for social entrepreneurship, expected outcomes, self-discovery, collaboration and networking, social influence, and support from organisations and governments. These findings suggest that SEE is not simply about teaching entrepreneurship knowledge and skills, but also about motivating participants to consider how attractive, viable, and relevant a societal venture is for impact. This study also extends the existing literature on SEE by providing a processual account of how it has been found to influence the intention to be more socially entrepreneurial, supported by contextually informed empirical evidence from Vietnam.
Artificial intelligence (AI) is increasingly embedded in entrepreneurial activity across emerging economies, reshaping how small and medium-sized enterprises (SMEs) identify opportunities, mobilise resources and participate in innovation ecosystems. Yet existing work remains fragmented, with limited attention to how AI interacts with contextual features such as institutional voids, infrastructural constraints and policy experiments that characterise emerging economies. This study conducts a bibliometric and systematic literature review (BSLR) to map the intellectual structure and thematic evolution of research at the intersection of AI, entrepreneurship and innovation, and develops a multi-level conceptual framework that explains how AI operates as a cognitive, organisational and institutional actor within entrepreneurial ecosystems in these contexts. Synthesising 100 peer-reviewed articles published between 2017 and 2025, the article identifies four interrelated thematic domains: AI-augmented entrepreneurial cognition and decision-making; digitally mediated venture formation and learning processes; adaptive ecosystem structures, skills and resource orchestration; and institutional governance of intelligent technologies. The framework shows how AI-enabled tools can help entrepreneurs navigate uncertainty, extend their reach into digital markets and experiment with new business models, while also raising substantive concerns about algorithmic exclusion, bias and dependence on external platforms that constitute new forms of institutional inequality in emerging economy ecosystems. The study additionally identifies three emergent thematic frontiers requiring dedicated future inquiry: agentic AI and autonomous entrepreneurial action, AI and sustainability-oriented innovation, and ethical and responsible AI governance in resource-constrained regulatory environments. By situating AI-augmented entrepreneurship within the specific resource, relational and institutional conditions of emerging economies, the article contributes to debates on institutional evolution, regional development, and sustainable and inclusive innovation. It offers implications for policymakers, ecosystem builders and support organisations on how to design AI-related policies, infrastructures and capacity-building initiatives that strengthen local entrepreneurial ecosystems rather than deepen existing disparities, and outlines a future research agenda to examine these dynamics empirically across diverse emerging-country settings.
Digital technologies are widely promoted as instruments of inclusive growth; however, gendered disparities in access, skills and agency persist within rapidly urbanising Indian contexts. This study examines women’s digital participation in Chennai city, positioned as an analytic urban case to explore how infrastructural conditions, sociocultural norms and policy environments interact to shape digital empowerment. Employing a mixed-methods design, the research integrates nationally representative data sets National Family Health Survey-5 (NFHS-5), Periodic Labour Force Survey (PLFS) and Telecom Regulatory Authority of India (TRAI) with primary survey data ( n = 250), semi-structured interviews ( n = 40), focus group discussions and Geographic Information System (GIS)-based infrastructure mapping across four socio-economically diverse zones. Findings reveal significant intra-urban variation in digital access, affordability and skill acquisition, alongside persistent sociocultural constraints that mediate women’s engagement with digital platforms. Regression analysis indicates statistically significant associations between digital competencies and economic participation, though causality cannot be inferred. Intersectional patterns demonstrate that education and socio-economic positioning substantially influence digital inclusion outcomes, even within high-connectivity urban settings. The analysis is further grounded in three sector-specific case studies illustrating how digital tools translate into measurable business and financial outcomes. Building on these empirical insights, the study advances a contextualised, policy-sensitive framework for urban digital empowerment and proposes a phased, multi-stakeholder roadmap aligned with India’s 2047 development vision. The findings offer analytically transferable insights for designing gender-responsive digital inclusion strategies in comparable metropolitan environments.
The article examines how microenterprises in emerging economies respond to fluctuations in economic conditions through their financing strategies and investigates how these strategies enable the firms to optimise their financing costs and return on investment (ROI). The differences in financial performance sensitivity to the cost of financing and in ROI stability between stable and volatile economies are analysed based on a 24-month longitudinal survey of 54 microenterprises operating in a stable economy (Colombia) and a volatile economy (Venezuela). The results from two-way mixed analysis of variance, quantile regression and fixed-effects panel models reveal that the financial performance of microenterprises in stable economies is less sensitive to the cost of financing than that in volatile economies, and presents a more stable ROI. By contrast, the performance of volatile economies is highly sensitive to financing costs and exhibits high volatility. The findings generate new insights into the financing strategies employed by microenterprises in emerging economies, indicating that they use financing strategies as a means of strategic behaviour to cope with volatile environments, enhancing financial resilience and informal innovation. This study investigates the relationship between local economic conditions and some key financial decisions made by microenterprises. The findings are discussed in relation to policies to promote entrepreneurship and within the framework of the theory of entrepreneurship under economic constraint.
Small and medium-sized enterprises (SMEs) are pivotal to economic development in emerging economies such as Indonesia, yet they continue to face structural constraints that undermine their competitiveness. This study examines how entrepreneurial orientation (EO), digital transformation (DT) and resource availability (RA) influence SME competitiveness, while also investigating the mediating roles of government support (GS) and environmental dynamism (ED). The research was conducted in two strategic special economic zones (SEZs) in Indonesia—Mandalika and Sanur—where SMEs play an essential role in supporting tourism and regional growth. Using a quantitative approach, data were collected from 250 SMEs via structured questionnaires. The analysis was conducted using partial least squares structural equation modelling (PLS-SEM) through SmartPLS 4.0. The findings reveal that DT and RA have significant direct effects on SME competitiveness, while EO shows no significant direct relationship. However, GS mediates the relationship between all three variables and competitiveness, indicating that institutional support is vital in transforming internal strengths into competitive outcomes. Additionally, ED significantly mediates the relationship between DT and competitiveness, but not for EO or RA. Practically, this study highlights the need for SME managers to prioritise DT and actively leverage government programmes. Policymakers are encouraged to design targeted support mechanisms to enhance SMEs’ innovation and market responsiveness. The study offers important insights for advancing the theoretical discourse on SME competitiveness, particularly in policy-sensitive and tourism-driven economic contexts.
Entrepreneurship education has become a necessity for academic institutions and the government to reduce unemployment and to enhance the economic position of individual nations to position themselves on the global economic map. Though previous studies have extensively explored the drivers of entrepreneurial intention, research on the drivers of entrepreneurial desirability remains limited, despite its role as a fundamental antecedent to intention. In view of this understanding, this study explored the attributes of successful entrepreneurs’ message that drives entrepreneurial desirability using social influence theory through the Stimulus–Organism–Response framework. An experimental design was adopted using 174 participants of an entrepreneurship awareness camp in India. Data were analysed using the two-stage structural equation modelling approach. The results indicate informativeness and credibility as the strongest predictors of perceived usefulness, which further leads to perceived entrepreneurial desirability. The moderating effect of gender and field of education on entrepreneurial desirability was also examined. The study presents significant theoretical implications for practitioners to adopt cost-effective formats that essentially drive entrepreneurial desirability.
This study aims to examine the role of gender in lending operations and specific features performed in a loan-based crowdfunding (CF) platform oriented to funding sustainable projects. Using a quantitative approach, the research exploits a database of information on past CF campaigns carried out in a specific Portuguese platform—GoParity. The results of the study show that gender is able to influence the way CF is used to finance sustainable development projects. The characteristics of the CF operations are shaped by the presence of women in the shareholder structure, and especially by the gender composition of the project team. This specific characteristic affects the design of the CF campaign in terms of the amount of the pledging goal, the maturity of the loan and the guarantee offered.
Business accelerators are key actors in the entrepreneurial ecosystem, positively influencing the startups they support. Still, academic research on the factors that contribute to an accelerator’s success is limited. Recognising their fundamental role in fostering innovation across diverse entrepreneurial ecosystems, this article focuses on understanding the factors affecting their success ratio across the European Union (EU), adopting a comparative approach between emerging and advanced economies. In doing so, it investigates factors like their strategies and structure, their innovation ranking and their sectoral focus. Results from 41 accelerators across 19 European countries suggest that the accelerators adopt different strategies for startup engagement with investors and that the innovation ranking of their country affects the standing of the accelerator in the ecosystem. They vary in their funding strategies, but the majority address broad sectoral spectrums. There is divergence in their investment strategies between developing and advanced European economies, as accelerators from the former still focus on rather technologically mature sectors, while accelerators from the latter have shifted their focus to emerging sectors.
Through the cognitive approach model, this study explores the factors influencing entrepreneurial intention in countries influenced by Confucianism (Japan and South Korea). The Adult Population Survey of Global Entrepreneurship Monitor was employed in this study, with the chi-square test and logistic regression used to analyse the data. The findings show that both self-efficacy and having role models were significant predictors of entrepreneurial intention in each country, whilst fear of failure negatively affected intentions in South Korea. In Japan, gender disparities were more apparent, with females showing significantly lower entrepreneurial intentions than men. Also, a cross-country analysis showed that South Koreans are considerably more inclined to report entrepreneurial intentions than the Japanese. These results highlight the influence of cognitive factors on entrepreneurial intention and suggest that some cognitive determinants are consistent across both countries, while others are more context sensitive. The study contributes to the cognitive aspect of the entrepreneurship literature by offering comparative evidence that cognitive factors influencing entrepreneurship intent are partially shared and partially localised to each country in the developed Confucian Asian context.
This study examines entrepreneurial ecosystems in North Africa and the GCC, focusing on how institutional frameworks, financial access and cultural dynamics influence both entrepreneurial outcomes and the development of individual entrepreneurial mindsets. Addressing a gap in comparative regional analyses, the research highlights variations in ecosystem maturity, policy effectiveness and behavioural dimensions of entrepreneurship across emerging economies. A qualitative comparative design, grounded in Institutional Theory, the resource-based view and the Entrepreneurial Orientation Model, was used to analyse secondary data from academic literature, government reports and regional development publications. Entrepreneurial mindset was operationalised through observable behaviours, including innovation, proactivity, risk-taking and opportunity recognition, with ecosystem factors coded for their influence on these dimensions. Findings indicate that GCC countries benefit from robust policies, stable institutional frameworks and well-developed financial and support mechanisms, which enhance entrepreneurs’ capacity to act proactively, innovate and scale ventures. In contrast, North African countries face regulatory inefficiencies, political instability and limited financial access, with Morocco and Tunisia demonstrating partial progress through initiatives such as Plan Maroc Digital 2020 and the Startup Act. The results underscore the critical link between ecosystem conditions and individual entrepreneurial behaviours, highlighting the need for targeted reforms in institutions, finance and cultural support to foster proactive, opportunity-oriented mindsets. Practical implications are offered for policymakers, entrepreneurs and investors seeking to promote innovation-driven growth. Limitations include reliance on secondary data and partial coverage of regional diversity, suggesting that future research should adopt in-depth case studies, sector-specific analyses and longitudinal approaches to monitor ecosystem evolution and evaluate how policy interventions shape entrepreneurial mindset development over time.
Universities play a crucial role in fostering innovation and entrepreneurship ecosystems, particularly in emerging regions where economic development depends on effective knowledge transfer and strategic leadership. This study examines the role of university leadership in building innovation ecosystems through a contextualised approach that integrates universities, businesses and the State. Using a qualitative grounded theory methodology, we conducted in-depth interviews with six university executives, six business leaders and two government officials (one local and one national). Additionally, a policy document analysis was performed to assess the alignment between academia, industry and government in fostering innovation in the Magdalena region. Findings reveal that while universities are increasingly promoting entrepreneurship, a lack of coordination with government and industry hinders the formation of a robust innovation ecosystem. Businesses report limited awareness of government support programmes, and policymakers have not established effective mechanisms to facilitate collaboration. Regulatory barriers and communication gaps further restrict the implementation of innovation policies. This study proposes a contextualised strategic model for university leadership that strengthens the Triple Helix framework by emphasising the need for greater alignment between academia, industry and government. The model provides practical strategies for improving collaboration, enhancing policy dissemination and fostering financial support mechanisms for entrepreneurship. By addressing these structural gaps, universities in emerging regions can play a more proactive role in driving economic growth and innovation-led development.
Female entrepreneurship continues to play a pivotal role in generating employment in the developing economies, particularly in the informal sector. There is, however, a paucity of empirical research on the impact of women-owned enterprises on gender-disaggregated informal sector work in South-eastern Nigeria. The research was conducted using a survey method, which gathered 500 female entrepreneurs. The effects of entrepreneurial activity, experience, financial assistance and capital on aggregate informal sector employment, male informal sector employment and female informal sector employment were estimated using ordinary least squares (OLS) regression. The results indicate that female entrepreneurship has a significant positive impact on informal sector employment in all three categories. There is also a positive and statistically significant effect of entrepreneurial experience, business capital and financial assistance on employment outcomes. This relationship between entrepreneurship and experience created a cohesive impact on employment among the women. The findings emphasise the significant contribution of female entrepreneurs to spreading employment in informal sectors, particularly in the recovery process after COVID-19. It is a study with policy implications that boosting entrepreneurial capacities among women could increase employment and economic sustainability in the area.
Corporate entrepreneurship (CE) has become a vital strategy for higher education institutions to remain flexible, strong and competitive in dynamic environments. Although a large part of the scholarship has focused on academics and senior leaders, limited attention has been given to the roles and contributions of administrative staff within CE, despite their central role in the day-to-day running of the institutions. Administrative staff often face barriers, such as exclusion from decision-making processes, limited access to innovation funding, inadequate entrepreneurial training and bureaucratic procedures that constrain idea generation and implementation. This study investigates the challenges, roles and organisational factors influencing administrative staff’s participation in CE at a South African university of technology. A quantitative research design grounded in a positivist paradigm was adopted, involving a census sample of 110 administrative employees. Data were collected using a structured questionnaire adapted from the Corporate Entrepreneurship Assessment Instrument and analysed using SPSS version 28. Descriptive statistics were used to summarise trends, while inferential analysis, including correlation analysis and reliability testing using Cronbach’s alpha, was conducted to examine relationships and ensure internal consistency. The findings indicate that bureaucratic rigidity, insufficient financial resources and limited training significantly constrain participation, whereas management support and autonomy only moderately enable participation. This study contributes to practice by proposing inclusive governance structures, targeted training programmes and institutional policies that support resource allocation and recognition of administrative innovation, thereby fostering a more inclusive and sustainable entrepreneurial culture.
This article examines the environmental factors influencing women-led social entrepreneurship in the organic food sector of emergent economies, with a specific focus on India. Employing qualitative research methods, including in-depth interviews, focus group discussions and document analysis, the study explores five key variables: consumer taste and preference, technology and innovation, taxation and tariffs, political and policy frameworks, and entrepreneurial education. The findings reveal that although these external factors pose considerable challenges, they also present strategic opportunities for women entrepreneurs to balance profitability with social value creation. The analysis underscores the dual impact of taxation, the pivotal role of education and technology in ensuring certification and traceability, and the significance of enabling policy environments. By contextualising these findings within broader sustainability discourses, the study demonstrates how women-led organic food enterprises foster healthier lifestyles, sustainable livelihoods and inclusive economic growth. It concludes by recommending comparative analyses with male entrepreneurs, larger sample sizes and mixed-method research designs to enhance the generalisability of future findings.
Innovation hubs in emerging economies are critical engines for socio-economic development, and universities often sit at their core. This conceptual article examines how scientific and technological universities, through innovation hubs, researchers and laboratories, drive local and national development—a role framed by the Entrepreneurial University theory. Drawing on the case of Porto Alegre and the Rio Grande do Sul region in Brazil, we explore university-led initiatives (e.g., Aliança pela Inovação and Pacto Alegre), prominent science parks and incubators (Tecnopuc, Tecnosinos) and new collaborative platforms (South Collab Health, Instituto Caldeira). We compare these with examples from other regions in Brazil and emerging economies to identify patterns, gaps and potential strategies. Adopting a solution-oriented perspective, we showcase best practices and enabling conditions—such as strong university–industry–government linkages (Triple Helix), leadership and trust—that empower innovation ecosystems. We propose a roadmap for universities and ecosystem actors to strengthen their impact, emphasising capacity-building, inclusive innovation and strategic partnerships. This study highlights that when universities in emerging economies embrace an entrepreneurial and collaborative mission, they become pivotal orchestrators of innovation ecosystems, spurring sustainable economic growth and social progress.
