Explore the vast range of titles available.

Supply chain contracting is known to suffer from inefficiency in the presence of asymmetric information. Full vertical integration would eliminate the informational inefficiency but can be strategically undesirable. Yet today’s supply chain partnerships exhibit a certain degree of partial vertical integration via equity ties between the firms. Such governance forms received limited attention in supply chain research. Management literature suggests that partial vertical integration may help the firms to ease contracting problems by aligning their incentives, and thus improve the total surplus. We address this proposition by studying a model of a partially integrated supply chain in which the buyer holds an equity stake in the supplier. We adopt an operational perspective and investigate contracting between the firms within the joint economic lot size framework. We demonstrate that in this classical setting, partial integration can in fact be sufficient for eliminating informational inefficiency and achieving coordination. However, contrary to what one may expect, a tighter integration may harm supply chain performance and defeat coordination. We explain the underlying mechanism and investigate it analytically and numerically. Our results characterize sensitivity of supply chain performance to the degree of integration and stress the importance of the operational planning perspective for strategic decision making.

The article discusses the question of the possibility of the business community to implement mechanisms for the development of its structure. The authors show that in the process of historical transformation are implemented opportunities for market entry and process of improvement activities. The authors show that every company can produce a range of innovative products and its innovative principles transform of striving for improvement in the need to innovate. The subject of research is itself innovative activity of the organization, and the possibility of its integration in market conditions. The novelty of this study is the assumption that the innovation activity of the enterprise does not depend on the amount of goods produced and the number of shipped innovative products. The main indicator is the amount of revenue from goods that are produced on the basis of a new technological cycle. In the course of the work are analyzed the statistics and formed the algorithmization of actions to increase the share of innovative products The authors show and this is the basis for further research that the advancement and increase of the share of innovative products determines the possibility of development of a qualitatively new setting and identifies opportunities for technological and, consequently, the social capital of a certain territory.

Purpose The purpose of this paper is to theorize and examine how target country governance quality, target country market potential and acquirer's prior experience impacts equity participation in cross-border acquisitions. Design/methodology/approach The hypothesized effects are tested using a sample of 1,447 acquisitions undertaken over an 11-year time by US-based multinational enterprises (MNEs) in four emerging markets: Brazil, Russia, India and China (BRIC). Findings Analysis suggests that target country governance quality (government effectiveness, rule of law and control of corruption) strongly influences equity participation, and market potential moderates the influence of governance quality on equity participation. Further, findings demonstrate that acquirer's target country acquisition experience amplifies the positive influence of market potential on governance quality-equity participation relationship. Originality/value This study adds to the existing knowledge of equity participation in cross-border acquisitions (CBAs) undertaken by foreign MNEs in BRICs. This understanding is important since MNEs across the globe invest in BRIC utilizing CBA, and related research remains limited.

Purpose The purpose of this paper is to study the influence of factors such as financial literacy on a consumer’s investment decisions, particularly in the stock market. Based on two empirical studies, the theory of planned behaviour (TPB) was used to understand stock market participation (SMP) in India while developing a model to represent the relationships between the various factors. Consumer financial literacy was conceptualised to be a part of perceived behavioural control and included in the TPB. Design/methodology/approach A mixed methods research was followed where qualitative research preceded a quantitative survey-based study. In-depth interviews were conducted with investors and experts, results of which, when combined with the literature review, revealed seven variables including financial literacy which were pooled into three distinct groups based on the TPB. Responses obtained from 506 retail investors from four cities in India were analysed. Structural equation modelling was used to test the models and arrive at a final empirical model. Findings Results of the study indicated that investment intention predicts actual investments in the stock market (which represented behaviour). Financial literacy – both subjective and objective – were also found to be significant influencers on intention while only objective financial literacy seemed to affect behaviour. Three variables – perception of regulator, risk avoidance, and hassle factor – were combined to form a second-order construct which was named “Attitude to Investment Behaviour”. This had a negative impact on intention to invest in the equity markets. Financial well-being seemed to have a negative impact on intention while having a positive relationship with behaviour. Practical implications The results present significant investor behaviour and policy implications for financial services marketing. Some interventions, especially in the area of consumer financial literacy, are more likely than others to help consumers bridge the gap between non-participation and participation in the stock market. Originality/value The study makes a contribution to investor behaviour theory in the form of a comprehensive model to explain SMP in an emerging market. This can be further tested across geographies.

Dall’analisi effettuata dal Centro nazionale trapianti (Cnt), relativamente alle dichiarazioni espresseal momento del rilascio della Carta d’Identità Elettronica (CEI), è emerso chenel primo trimestre 2025, su circa 950mila dichiarazioni di volontà alla donazione di organi e tessuti registrate, quasi il 40% (39,7%)aveva espresso la propria opposizione. Il Centro regionale trapianti (Crt) ed i Coordinamenti di Regione Toscana hanno elaborato una metodologia per strutturare i corsidi formazione del personale delle anagrafi da parte dei Coordinamenti locali. Questo perché,come previsto dal Cnt, i Corsi di Formazione per il personale delle anagrafiè curata dai Centri regionali.In una prima fase, sulla base dei dati trasmessi da Cnt nel giugno 2024, Crt trasmette l’elenco dei Comuni distintiper Area Vasta in modo tale che ciascun Coordinatore di AreaVasta possa elaborare un programma di “intervento” () sulla base dellecaratteristiche dei Comuni della propria area territoriale.Nella seconda fase sono stati individuati i criteri di scelta programmatica dei Comuni:percentuale di opposizione superiore alla media nazionale;con percentuale di opposizione superiore alla media regionale (dati Cnt);percentuale di opposizione con un trend in aumento superioreal 5% dei “no” rispetto all’anno precedente;con percentualidi “non dichiarazioni” superiore della media nazionale. Al 30 giugno sono state effettuati corsi di formazione in presenza in 20 Comuni, utilizzando materiale formativo appositamente preparato. Previsti corsi per 69 Comuni nei prossimi sei mesi. I risultati della “campagna di formazione personale anagrafi” di Crt Toscana verranno valutati nel 2026 alla luce dei dati sull’espressione di volontà all’emissione/rinnovo CEI forniti da Cnt.L’elemento caratterizzante questo studio, a nostro avviso, è la metodologia attraverso cui è stata collegialmente (Crte Coordinamenti locali) “costruita” una strategia formativa, ritagliata e personalizzatasull’analisi dei dati dei singoli comuni.

Against the backdrop of environmental challenges and resource constraints, deepening mixed ownership reform and promoting green development of enterprises have become a significant trend, and the resource and governance effects arising from the state-owned (SOE) equity participation in private enterprises (PEs) have become a prominent research topic. The article empirically examines the influence of state-owned equity involvement on the green transformation of private firms using a two-way fixed effects model, utilizing a sample of Shanghai and Shenzhen A-share listed private enterprises from 2013 to 2022. The results indicate that SOE equity participation considerably speeds up the green transformation process of PEs, and the conclusion remains consistent following several robustness tests. Through the two channels of financing efficiency and environmental information disclosure, SOE equity participation encourages the green transformation of PEs; management compensation incentives have a positive moderating effect on SOE equity participation and the green transformation of PEs. According to heterogeneity analyses, SOE ownership has a stronger motivating effect on PEs' green transformation for large-scale, high-tech, and eastern area firms. The findings enrich the inquiry into the economic effects of reverse mixed reform and establish practical methods and theoretical foundations for private enterprises to promote green transformation.

This study examines how firms enhance resource allocation efficiency and stimulate real investment through strategic alliances. The findings, based on data from Chinese A-share listed companies on the Shanghai and Shenzhen Stock Exchanges from 2009 to 2022, indicate a significant positive correlation between strategic alliances and corporate real investment. This suggests that strategic alliances effectively improve resource allocation efficiency and promote investment in the real economy. By differentiating between equity-based and bilateral contractual strategic alliances, the results highlight a significantly positive impact of equity-based strategic alliances on corporate real investment. Path analyses further reveal that strategic alliances promote real investment growth by stimulating innovation momentum, enhancing risk-taking capacity, and strengthening innovation capability. Additional analyses indicate that companies with robust capital acquisition abilities—characterized by high commercial credit, patient capital, and government subsidies—can significantly enhance the positive effect of strategic alliances on real investment. This study enriches theoretical discourse on the economic consequences of strategic alliances, and offers policy recommendations for firms to optimize resource allocation and for governments to effectively guide capital toward the real economy.

International openness can affect regional innovation through more export opportunities, enhanced import competition and the spillover effects of foreign direct investment. Many studies have been conducted based on different countries for capturing the determinants of regional innovation, but very little literature is available with contradictory findings for the case of China. Based on 19 years’ panel data of 31 Chinese provinces, this paper analyzes the impact of international openness on regional innovation measured by the number of patent grants. The positive effects of overall trade and a higher proportion of exports and imports to GDP are significant and robust across different model specifications, indicating that an increase in international openness can promote regional innovating activities in China. The causal relationship of all the variables depicted by path analysis matches the results of the system GMM model. Higher intellectual property protection provides each region with the opportunity to obtain economic benefits from innovation and then make a higher investment in R&D activities. Besides, the lag effect of regional innovation capability can also explain a large part of local innovating activities. In our subsample regressions, the positive effect of trade openness on innovation is majorly manifested in developed areas like eastern provinces.

This study examined the unique circumstances surrounding state-owned equity participation in enterprises in China. Specifically, this study examined the impact of state-owned equity participation on the environmental, social, and governance (ESG) performance of enterprises. Focusing on A-share listed firms on the Shanghai and Shenzhen Stock Exchanges, and using data from 2013 to 2021, the results of our empirical testing showed that state-owned equity participation could significantly improve the ESG performance of enterprises, with this conclusion remaining reliable after a series of robustness tests. Top management incentives were a mediating mechanism for state-owned equity participation in enhancing ESG performance. This study also found that when state-owned equity participated in large enterprises, or companies with a high degree of digital transformation, the effect on the ESG performance was greater than in small or medium-sized enterprises, or enterprises with a low level of digital transformation. The findings of this study add to the current body of research on the factors influencing corporate ESG performance, and the impact of state-owned equity on corporate non-financial performance.

We identify a variety of R&D alliance modes in a knowledge-intensive industry (e.g., Pharmaceuticals), and classify them into four ordered categories which go beyond the traditional binary equity vs non-equity alliance classification. This enriches our understanding of alliance governance structures and broadens the application of alliance modes in what is today a more complicated international R&D collaboration setting. We then explore national, industry and firm factors that determine the selection of an appropriate R&D alliance governance mode, using a sample of 237 international alliance deals. The likelihood of using a more-integrated alliance governance mode decreases as the difference or \"distance\" between nations of the partner firms increases in terms of human capital and cultural distance. On the other hand, a greater geographic and institutional difference is positively associated with the selection of more integrated alliance governance modes. Furthermore, firms in the research stage are more likely to use a more-integrated governance mode, as opposed to firms in the development stage. These findings advance research on alliance governance structure. They reveal the factors affecting the R&D alliance governance mode choice.