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Relative performance evaluation (RPE) intensifies competitive pressure by tying executive compensation to the profits of rivals. We show that these contracts make loan syndication harder by reducing banks' willingness to participate in loans underwritten by banks named in their RPE contracts. Lead arranger banks, which are more frequently named in RPE, hold larger shares of the loans they syndicate, and their borrowers receive smaller and fewer loans and face higher spreads. Our results highlight the tension between the normal benefits of competition versus the need for cooperation in loan syndication. [ABSTRACT FROM AUTHOR]

To overcome product homogenisation issues, an increasing number of supply chain members have been binding their competitive advantages to services which extend supply chain competition to a new dimension. This paper proposes a product service supply chain (PSSC) network competition model with multiple competing manufacturers and retailers offering demand-enhancing and costly services. In order to obtain the decision-making results in a non-cooperative game context, equilibrium conditions are established using variational inequality, and the qualitative properties are discussed. We compare the two competition scenarios, price competition only and simultaneous price and service competition, to discover the impact of service-offering on supply chain members. After introducing the service competition, both manufacturers and retailers realise higher profits and marginal profits with the same service costs. In contrast, the manufacturers' marginal profits achieve higher growth rates. We also find that (a) the increase of the demand sensitivities to the service levels of retailers would contribute more to the revenue growth of the whole PSSC network and (b) when service costs are different for manufacturers and retailers, the optimal decision-making on service levels are not only affected by the service costs of the members in the same tier but also correlated with those in other tiers. [ABSTRACT FROM AUTHOR]

The challenges encapsulated in the 'War for Sales Talent' are symbolic of the struggles inherent in the recruitment, nurturing, and retention of sales professionals. While extant research provides valuable insights into facets like hiring practices, selection criteria, coaching, and training strategies, a noticeable void persists in guiding salespeople as they navigate beyond the initial ramp-up period in a new role. By interconnecting survey responses from a cohort of 200 service salespeople with 18–24 months of tenure, this investigation brings to light the facets of effort—encompassing prospecting, conversion, retention, and growth—that exert an influence on the change in year-over-year revenue following a salesperson's first complete sales cycle post-onboarding. The results underscore the significance of conversion and growth efforts, revealing their robust impact on the net change in sales revenue. In challenging existing paradigms, this study proposes a conceptual shift in understanding sales effort. Rather than adhering to the prevailing unidimensional viewpoint, the findings advocate for recognizing sales effort as a multi-dimensional construct with competing demands. This nuanced perspective contributes to a more comprehensive understanding of the factors influencing revenue growth for salespeople transitioning from the ramp-up period toward a sustainable, growth-oriented trajectory. [ABSTRACT FROM AUTHOR]

This study examines the importance of governance quality of local government in small businesses' future revenue growth forecasting accuracy. Forecasting errors are due to either overestimation or under-estimation. When local governance quality improves, transaction costs are eliminated, boosting firms' actual performance up to the level forecast, thereby reducing overestimation. Also, when local governance quality improves, institutional trust (trust in government) and generalized trust (trust in strangers) improve, lifting the expectation of future performance to the actual level, thereby reducing under-estimation. We investigate these two mechanisms using a set of more than 250,000 small businesses in Vietnam using an instrumental variable approach to control for potential endogeneity. It is found that governance quality enhances forecasting accuracy by reducing under-estimation forecasting errors but, interestingly, without affecting overestimation errors. This paper is one of the first that links governance quality to business forecasting, indicating that local authorities can help local businesses make efficient resource preparation by improving their governance quality. [ABSTRACT FROM AUTHOR]

This article examines how collective bargaining through unions and workplace codetermination through works councils relate to labor market imperfections and how labor market imperfections relate to employer wage premia. Based on representative German plant data for the years 1999–2016, the authors document that 70% of employers pay wages below the marginal revenue product of labor and 30% pay wages above that level. Findings further show that the prevalence of wage markdowns is significantly smaller when organized labor is present, and that the ratio of wages to the marginal revenue product of labor is significantly larger. Finally, the authors document a close link between labor market imperfections and mean employer wage premia, that is, wage differences between employers corrected for worker sorting. [ABSTRACT FROM AUTHOR]

Despite scholarly critiques, use of the Net Promoter Score (NPS®) continues to grow in popularity among firms. Even researchers who criticize NPS recognize its potential for predicting desirable customer behaviors and revenue growth. However, a firm's goal in measuring NPS is not to simply assess it, but to be empowered to improve that score. This goal begs an important question: Does a "net promoter" study provide the insights that a firm needs to improve their NPS? The critical, but untested, assumption in NPS use is that the insights gained from open-ended customer comments in a net promoter study can be used to set improvement priorities that will increase future NPS likely-to-recommend ratings. Through two distinct studies, one in a business-to-business context with auto dealership decision-makers and one in a business-to-consumer context with vehicle repair customers, we investigate this assumption. Our results reveal that the critical untested assumption of a net promoter study is questionable. The convergence is low to moderate between open-ended priorities from a net promoter study and predictors of the standard 'likely-to-recommend' NPS question. We also find that the convergence between customers' open-ended priorities and their stated and derived priorities from closed-ended responses is higher for NPS detractors and passives than promoters, but it is still only moderate. The strength of this convergence of priorities is also impacted by the wording of the questions used to elicit customers' open-ended priorities. Firms using open-ended comments to set priorities should ask customers, especially detractors, to identify areas for improvement. In addition, they should supplement open-ended customer feedback with closed-ended questions to get customers' performance ratings in relation to their specific needs. [ABSTRACT FROM AUTHOR]

We demonstrate that investors in initial public offering (IPO) firms value revenues and that the number of U.S. Securities and Exchange Commission (SEC) revenue recognition comment letters issued on the S-1 registration statement are positively associated with reported revenues. We also find that IPO managers report revenues opportunistically in the fiscal year just prior to the offer. In additional analysis, we find that discretionary revenues are associated with significantly higher first day IPO stock returns but significantly lower 1 year stock returns. Our results are consistent with the incentives of managers to report revenues opportunistically outweighing the higher monitoring and regulatory scrutiny pre-IPO. [ABSTRACT FROM AUTHOR]

This paper describes the collaboration between two airport departments that depend on each other to develop a commercial terminal area. It outlines the new opportunities that building information modelling (BIM) planning brings to the planning and construction of a new terminal building at Vienna Airport. It describes how this digital planning tool is helping to facilitate the development of a virtual reality (VR) tool for use by the commercial department in discussions with possible new tenants. Further, it discusses the importance of developing non-aviation commercial revenues, which currently not only contribute to passenger satisfaction but also provide airports with a considerable volume of income to fund infrastructural developments. The paper not only describes new planning tools and the importance of travel retail and food and beverage (F&B) offers, but also how synergies within one company can be used to reduce costs in the process — here specifically in a lower investment for the development of the VR tool. [ABSTRACT FROM AUTHOR]

State tax revenue forecasting is critical to states' fiscal planning because many states have constitutions or laws that require a balanced budget and restrict borrowing to fund deficits. We develop and compare four measures of aggregate corporate earnings growth. We find that a state-specific industry-weighted measure of earnings growth predicts future state tax revenue growth, incremental to states' actual forecasts (i.e., it increases explanatory power by a factor of 1.86). Earnings growth also improves states' component forecasts of personal income, sales, and corporate income tax revenues. We also find that both forecast errors and lagged earnings growth can explain midyear spending cuts, suggesting that there are real consequences to omitting earnings growth from tax revenue forecasts. Because accurate revenue forecasts are necessary for the efficient allocation of government resources, these findings should be useful to those who prepare, monitor, or are otherwise affected by state tax revenue forecasts and budgets. [ABSTRACT FROM AUTHOR]

Capital markets companies are in the midst of a series of challenges that they cannot solve with revenue growth. This has increased the impetus for companies to look inwards and think about efficiencies and cost savings. The operating model that serves capital markets — and the legacy technology that powers it — is struggling to keep up, but change has historically been fraught with risk and the chance of failure looms large. This paper explores the need for a 'next-generation' operating model, the transformation pitfalls companies need to avoid when delivering one, the technology that enables it, and why people and data must be at the heart of any change. [ABSTRACT FROM AUTHOR]

Introduction: A two-warehouse deterministic inventory system for purchases of short-expiry items with low purchasing costs is modelled. The total cost of the replenishment cycle is arrived at by implementing multiple just-in-time (JIT) purchases for the slotted backlogged customers. It avoids the loss of impatient customers who are virtually waiting for a long time. Methods: The inventory system consists of an own warehouse (OW) with finite capacity and an integral rental warehouse (RW) with unlimited capacity. Handlingand selling items with short expiry is a challenging task in revenue generation in commercial inventory management. Two categories of identical items are purchased: Category 1 consists of items whose expiry date falls within the replenishment cycle period, while Category 2 includes items with longer expiry dates. Unlike the traditional assumption in the literature, the items in Category 1 are purchased for a low price and stored in RW. Items in Category 2 are stored in OW. Due to short expiry of items, demands are first satisfied from the RW. The items in the RW are emptied before the expiry date of the items, due to expiry date-dependent deterioration and constant demand. At the same time, the items in the OW are decreasing due to exponential demand and constant deterioration. All customers are backlogged during the stock-out period and slotted into three intervals. The finite number of JIT purchases is employed to satisfy the backlogged slotted demands that occur before the last slot. Results and Discussion: We optimize the total cost of the replenishment cycle, RW utility, and total items purchased. The model is illustrated with an appropriate numerical example, and extensive sensitivity analysis is conducted on the system's performance. [ABSTRACT FROM AUTHOR]

[Display omitted] • Material recovery facilities have economies of scale. • Large facilities use advanced sorting technology and 100x less electricity per Mg. • Large facilities have more revenue and access to markets for plastics. • Hub-and-spoke recycling increases mass and revenue opportunities. • Plastics have high revenue to mass ratio, glass has little revenue. An analysis was conducted using nationwide survey data to evaluate how material recovery facilities (MRFs) operations vary regionally and with scale. The survey characterized materials, processes, and energy use involved with operations, and revenue for recyclables. This is the first nationwide analysis of MRFs in the US that accounts for mass processed, energy consumed, and revenue. Of a population of 521 MRFs, 48 responses representing MRFs from five US regions were received and analyzed (9.2 % response rate). Responses were analyzed by size according to yearly mass of inbound materials (small: <1,000 Mg/year, medium: 1,000–10,000 Mg/year, and large: >10,000 Mg/year). Most MRFs identify as single-stream; source from residences; utilize tipping floors, picking lines, baling and warehousing; and are powered by electricity. Most revenue and inbound mass (>50 %) came from fiber (cardboard and paper). Glass had little revenue, and plastics were difficult to transition to market. Percent residue ranged from 1-39 %, averaged < 20 %, and increased as the mass of inbound material increased. Large MRFs reported more sources of material, employed advanced sorting technology, had greater plastics revenue (33 % versus 5 % for small MRFs), and had more market access for plastics compared to small MRFs. Large MRFs had two orders of magnitude less annual electricity consumption per Mg recyclables than small MRFs (5–90 kWh/Mg versus ∼ 300–550 kWh/Mg). Results demonstrate environmental and economic benefits of larger-scale MRFs, which could be implemented more broadly in the US through regional hub-and-spoke arrangements for collecting and processing recyclables, lowering energy consumption and increasing revenue for recyclables. [ABSTRACT FROM AUTHOR]

Purpose: This article aims to study the nonlinear effect of financial inclusion on tax revenue of 21 low financial development countries (LFDCs) and 22 high financial development countries (HFDCs) from 2004 to 2020. Design/methodology/approach: The study calculates the world average financial development index (FD̅) for all countries using data from the IMF. The average FD of HFDCs is higher than (FD̅). On the other hand, the average FD of LFDCs is lower than (FD̅). Data of 21 LFDCs and 22 HFDCs cover the period 2004–2020. With the small sample problem, we applied the Bayesian method to examine the nonlinear effect of financial inclusion on the tax revenue of the two groups of countries. Findings: Using the Bayesian method, the results show that financial inclusion negatively impacts tax revenue with an absolute probability of 100% in LFDCs and a lower probability of 92.45% in HFDCs. Additionally, the financial inclusion threshold at LFDCs is 18.90. Below this threshold, financial inclusion promotes tax revenue with a 100% probability. On the contrary, when financial inclusion exceeds the threshold, it will have a negative effect on tax revenue. Similarly, the financial inclusion threshold at HFDCs is 20.14, with a probability of 92.45%. Originality/value: To the best of the authors' knowledge, this is the first paper to examine the nonlinear impact of financial inclusion on tax revenue in high and low financial development countries. [ABSTRACT FROM AUTHOR]

Despite substantial investments into new technologies, the adoption of systemic innovations such as construction robotics remains limited. Therefore, this study investigates the discrepancy between the assumed advantages of construction technologies and their actual performance during practical implementation, using construction robotics as the empirical case. Through an abductive thematic analysis of 127 interviews across Europe and North America, we identify six enablers of institutional misalignment: cognitive frame differences, divergent time horizons, conflicting market strategies, product versus revenue focus, varying risk tolerances, and information asymmetry. These misalignments between startup founders' technological logic and investors' economic logic constrain adoption, emphasizing the influence of institutional dynamics over technological feasibility. Our findings suggest these challenges are not unique to construction robotics but may extend to other emerging construction technologies. This highlights the critical need for aligning institutional logics to fully harness the potential of innovation in construction. [ABSTRACT FROM AUTHOR]

A defining assumption of the innovation literature is that the public sector suffers from an innovation deficit relative to other organizational forms. To examine this empirically, we use Stochastic Frontier Analysis to compare the efficiency of revenue generation and licensing activity for public and private nonprofit tech transfer offices. On average, we find no statistically significant efficiency differences in contract costs, revenue generation or licensing activity. We do not find evidence of a public innovation gap in tech transfer. [ABSTRACT FROM AUTHOR]

We provide an up-to-date literature review that describes the state of the art on the impact of digitalization on firm performance. Firms' digitalization processes are associated to productivity gains, innovation, costs reductions, and new business models and revenue opportunities. The bulk of empirical estimates reviewed for the firm-level support these findings. However, these results are not necessarily unanimous, as some research has not been able to verify these positive effects. Our findings point to a diminishing methodological quality due to the lack of robust strategies to eliminate endogeneity concerns, a problem driven by the inadequacy of public datasets to study the main object of this literature review. [ABSTRACT FROM AUTHOR]

This paper investigates regulatory avoidance in the context of private country-by-country reporting (CbCR) introduced as part of the OECD/G20 BEPS initiative. The reporting framework requires multinational companies above a revenue threshold to provide tax authorities with new and detailed information on their global activities, but the data are not made publicly available. I find robust evidence for an increase in mass below the revenue threshold after the introduction of CbCR in line with an avoidance response. Company types for which CbCR would imply relatively high costs including private companies or more tax-aggressive firms show a stronger avoidance response. The heterogeneities found can at least partially be explained by an analysis of increases in tax costs. The finding of regulatory avoidance of multinational enterprises in response to a fixed revenue threshold is of additional relevance in light of the international tax reform agenda which relies on similar thresholds. [ABSTRACT FROM AUTHOR]

We investigate the relation between the usefulness of earnings and firm cost structure. We document that the usefulness of earnings to external users decreases in the degree of operating leverage, which measures the proportion of fixed to variable costs, and that this decline extends at least partially from the relation between the degree of operating leverage and two earnings properties: aggressive revenue recognition to meet an earnings target and earnings volatility. Our results illustrate how firm fundamentals influence a firm's information environment and thereby the usefulness of earnings to external users. This paper was accepted by Ranjani Krishnan, accounting. Supplemental Material: The data files are available at https://doi.org/10.1287/mnsc.2021.03023. [ABSTRACT FROM AUTHOR]

The aim of this research is to substantiate the choice of a competitive strategy by monitoring the competitive advantages of enterprises in the confectionery industry, using Ukraine and Slovakia as case studies. The research materials include statistical data on the development of the confectionery industry in Ukraine and Slovakia from Ukrstat and Eurostat. To compare the competitive advantages of confectionery enterprises in both countries, methods such as diagnostic analysis, statistical data analysis, and case studies were employed. Expert evaluations from the confectionery industry in Ukraine and Slovakia were used to monitor and assess competitive advantages. The monitoring procedure followed a structured sequence of actions: (1) identifying development trends in the confectionery industry, (2) determining key competitive advantages, and (3) conducting an expert assessment of these advantages. Based on this assessment, priorities were established, and a competitive strategy was defined. The competitive advantages evaluated by experts included the dynamics of confectionery production, revenue growth, digitalization of sales, average product prices, operational efficiency, brand development, product innovation, ingredient safety, and export potential. The results of the expert assessment indicate that the confectionery enterprises of Ukraine and Slovakia have significant potential for growth and strengthening their competitive position. Ukrainian enterprises, in particular, benefit from larger production volumes, a more innovative product assortment, and higher product quality. To further enhance their competitive advantages, Ukrainian enterprises should focus on digitalizing sales and expanding into new markets to boost exports. For Slovak enterprises, increasing production volumes, digitizing sales, refining product policy to expand assortments, and diagnosing export potential are recommended strategies for gaining competitive advantages. [ABSTRACT FROM AUTHOR]

We investigate the stability of internet platform trading mechanisms using the notion of ex-ante incentive compatible core defined by Forges et al. (2002) in the context of an exchange economy. A mechanism can be blocked by a single buyer and seller pair if they can find an interim incentive-compatible trading mechanism that gives them higher ex-ante expected utilities. Standard double auction mechanisms like the trade reduction mechanism and McAfee double auction mechanism may not be single-buyer–single-seller (SBSS) ex-ante stable. We characterize interim incentive-compatible, interim individually-rational, symmetric and revenue-maximizing mechanisms that are SBSS ex-ante stable using methods in Myerson and Satterthwaite (1983). • We study the stability of double auction mechanisms of a platform. • Standard double auctions may not be single-buyer-single-seller (SBSS) ex-ante stable. • We characterize class of revenue-maximizing mechanisms that are SBSS ex-ante stable. [ABSTRACT FROM AUTHOR]

This paper examines the relationship between time and performance in the commercialisation of university-originated inventions. Focusing on the commercialisation time, defined as the time taken for a lab-scale invention to be developed for commercial sale, we investigate whether there is any systematic association between commercialisation time and the licensing revenue generated by university-originated inventions. Analysing a sample of inventions from Stanford University, we find that both pre- and postlicensing time of commercialisation are negatively associated with its licensing revenue. We also find that the negative relationship between the postlicensing time of commercialisation and licensing revenue is contingent on the inventor's orientation towards university-industry collaboration. We discuss theoretical and practical implications of our findings as well as future avenues of research in technology commercialisation. [ABSTRACT FROM AUTHOR]

This paper examines the revenue implications of trade deregulation in a panel of Pacific Island countries from 2010 to 2021. First, we undertake a cross-country analysis of tax revenue, trade, and tax structure. Secondly, we empirically analyze the effect of trade deregulation on trade tax and overall government tax revenue. We find that as the countries have become more deregulated over the decade, the trade tax revenues and direct income tax revenues have declined whereas domestic indirect tax revenues have increased. The empirical estimation reveals the potential Laffer effect for trade tax revenues with respect to trade openness. The effect of regional trade agreements also shows some support for trade tax revenues. Further, the external public debt has a significant positive effect on aggregate tax revenues, while foreign aid has been significant in explaining the decline in both aggregate tax revenues as well as trade tax revenues in the selected Pacific Island countries. [ABSTRACT FROM AUTHOR]

To investigate the subsidy strategy of blockchain technology for low-carbon supply chains considering consumers' perceived mistrust level, this paper first examines the potential applications of blockchain technology in the supply chain. Subsequently, the effects of government subsidy strategies on the supply chain benefits was analyzed, upon which a low-carbon supply chain game model involving a single producer and a single retailer was constructed. Four investment subsidy models were considered and analyzed. The following conclusions are reached: (1) CERD and CPDL are the main factors affecting producer and retailer profitability. (2) The cost subsidy coefficients of the producer and the retailer are positively correlated with their respective profits, while government revenue initially increases and then decreases as subsidies to both parties increase. (3) While formulating policies, the government should not consider the subsidy costs that reduce consumer perceived distrust levels. [ABSTRACT FROM AUTHOR]

We empirically investigate how the performance of small and medium-sized enterprises (SMEs) changes when gaining access to market information. To do so, we evaluate the impact of an information program diffused by a bank among its SME customers. Adopting firms gained access to reports with rich information about their own clientele and that of nearby establishments. While we find that adoption is associated with a 4.5% revenue increase, our instrumental variable results indicate that adoption increases revenue by 9%. The main mechanism driving our result is that the new information prompted adopting establishments to target gender-age customer groups underserved before adoption. [ABSTRACT FROM AUTHOR]

Tourism is a very complex industry and represents one of the most profitable activity in the world. A tourist product requires the execution of several multifaceted activities. Indeed, transportation, accommodation, entertainment, food, and beverages represent only some of the products/services required by a tourist. It is evident that a single enterprise cannot provide all the components of a tourist product, but several interrelated actors should collaborate. This leads to a very complex supply tourist chain that needs to be optimized. The relevant theories and methods of logistics can be used to efficiently manage all the flows that are generated in a tourist chain. The definition of appropriate policies, at the different nodes of the chain, can improve the performance of all the actors involved in tourism logistics. In this paper, we concentrate our attention on tour operators that are relevant in the touristic logistic chain since they are involved in several activities. We introduce different revenue management policies to support tour operators in the decision of accepting the most profitable tourist requests. A request consists of flights and hotel booking, characterized by a starting time of the trip and the length of stay at the destination. We allow for various combinations of flight legs and multiple categories of hotels to accommodate a variety of customer preferences and needs. A computational study is carried out by considering different scenarios, and the performance of the considered revenue management policies is analyzed in detail. [ABSTRACT FROM AUTHOR]

Offline paid media (e.g. TV and radio) and online paid media (e.g. Google AdWords and Facebook) are complementary advertising channels that create a cyclical Echoverse effect for the communication strategy. Retailers do not know how offline and online paid media form reciprocal feedback loops when associating with earned social media, owned print advertising and organic search. To understand these cyclical loops, the authors test an Echoverse model using longitudinal data from a grocery supermarket chain and apply a model using vector error correction regression. We find empirical evidence supporting our Echoverse model. First, time-series data show that offline paid media, online paid media, and owned print advertising affect retailers' profits and revenues. Second, from a reciprocal viewpoint, offline paid media, online paid media, and owned print advertising increase earned social media, which boosts organic search. [ABSTRACT FROM AUTHOR]

The chief marketing officer (CMO) is typically held accountable for generating firm revenue growth, but it is unclear whether current top management team (TMT) compensation practices, focused on an external benchmarking process, best align CMO behavior with this outcome. Drawing on equity theory, we explore how CMO pay (i.e., salary), relative to external and internal referents, impacts revenue growth. Using over 20 years of data for 457 public U. S. firms, we find that CMO-CFO relative pay (i.e., the Chief Finance Officer) positively relates to firm revenue growth, but CMO pay relative to the industry median does not. Further examination reveals an asymmetry in the effect for CMO-CFO relative pay—when CMOs are paid above the CFO, there is no impact on revenue growth, but when CMOs are paid below the CFO, there is a strong association to revenue growth (i.e., hampering growth), as such pay inequity can be particularly demotivating. Moderation analysis using CMO tenure provides support for this mechanistic pathway. Weaker evidence is found for the effect between CMO-highest paid TMT member relative pay and revenue growth, and no relationship between CMO-CEO relative pay and revenue growth is observed. Findings support the CFO as a key CMO pay referent and indicate that the common practice of using predominantly external benchmarks to determine CMO pay is not optimal, providing valuable insight and guidance to better align CMO pay and firm growth. [ABSTRACT FROM AUTHOR]

The Big 4 auditors are inspected annually by the Public Company Accounting Oversight Board (PCAOB), with the summarized findings (labeled "audit deficiencies") being publicly available on its website. Although the PCAOB claims that its inspection findings and process are designed to increase audit quality, there is limited empirical evidence to support this claim. We examine whether changes in revenue-deficient audit engagements are associated with subsequent year changes in client revenue quality. A revenue-deficient audit engagement is an inspected engagement that has at least one revenue-related audit deficiency. To infer audit quality, we link year-over-year changes in revenue-deficient audit engagements to the subsequent year's change in engagement-level revenue quality—a common financial reporting quality proxy. We predict that audit firms will react asymmetrically to changes in revenue-deficient audit engagements: increases will prompt audit quality improving actions, but decreases will not. Our results support our prediction. JEL Classifications: M42. [ABSTRACT FROM AUTHOR]

Using school management settings, this manuscript developed important substantial leadership models such as "instructional," "constructive," and "distributed." University leadership and especially in the private sector is an understudied topic. While private universities need to generate revenue for profits and survival, they should, at the same time, retain sound education philosophies, an extremely difficult task. Studies are yet to be conducted to understand how leaders of private universities handle this challenge, and this issue motivates the present research. Using Bangladesh as a case study, this qualitative study discovers that the "visionary" leadership approach is mainly used for business management models that govern private sector universities. This does not enable an established education leadership model to function well, if at all. This poses a serious challenge to educational philosophy. Innovation of a specialized private sector university leadership model is therefore required. [ABSTRACT FROM AUTHOR]

The imbalance between supply and demand for slot resources and empty containers has led to resource waste and excessive operating costs for liner companies. Moreover, intense competition among ports has made both container ship slots and port equipment resource allocation inefficient. To address these challenges, this paper aims to solve the collaborative optimization problem of slot allocation and empty container repositioning within port clusters concerning inventory control. A cooperative possession strategy and a hybrid (T, s) inventory control policy are incorporated in this paper. A novel mixed-integer programming model is proposed, enabling us to simultaneously track slot allocation, empty container repositioning, empty container leasing, and slot renting. To solve the model, a new branch-and-bound algorithm based on Lagrangian relaxation and the ascendancy principle (BBLRAP) is developed. Numerical experiments are conducted to demonstrate the effectiveness of the proposed model and algorithm. The results show that the new collaborative optimization method, incorporating the cooperative possession strategy and (T, s) inventory policy, can increase liner company revenues by expanding market share, reducing costs, and improving the utilization of slot resources, ultimately achieving a win–win outcome for both liner companies and their partners. Compared to state-of-the-art studies, the following paper makes new contributions to proposing a cooperative possession strategy within port clusters for the first time. This paper ensures that liner companies and partners achieve a win–win situation in the cooperative game, expanding market shares and improving customer satisfaction. [ABSTRACT FROM AUTHOR]

Since we wrote "Crowdsourcing as a solution to distant search" a decade ago, enthusiasm for crowdsourcing's capacity to produce remarkable solutions to some problems has continued to grow, and profiting from crowdsourced solutions has become a strategic goal for more and more firms. Crowdsourcing research has progressed impressively, with more progress made in researching the phenomenon than in theorizing about it. We are deeply honored by the 2022 Decade Award. In this manuscript, we reflect on the factors that led to this progress in crowdsourcing research, and how the theoretical insights from our paper––e.g., markets in the hierarchies-markets dichotomy are made up of markets with ex ante contracts and crowdsourcing (markets with no ex ante contracts)––may have influenced that progress. Also, because profits have become the ultimate goal of a large number of the seekers of solutions through crowdsourcing, we present an outline of a framework for exploring the impact of crowdsourcing on a seeker's profitability. The framework builds on insights from the paper and new constructs in crowdsourcing such as artificial intelligence (AI), the crowdsourcing process, revenue models, complementary assets, and organizing to minimize crowdsourcing disadvantages that we have added. We conclude with suggestions for future research. [ABSTRACT FROM AUTHOR]

A study involving unobtrusive observations of salespeople's behaviors in sales settings surfaces a novel insight: a salesperson's selling effectiveness with a customer may be enhanced by the way the salesperson interacts with secondary entities, such as objects and people outside the core salesperson–customer dyad. Based on this insight and social interest theory, this research introduces the construct of secondary selling. It refers to a salesperson interacting with secondary entities in a manner that indicates to a focal customer that the salesperson values these entities. The pattern of results from four follow-on studies using multiple methods and data sources indicates that, in general, secondary selling reduces a focal customer's reactance to a salesperson's recommendations, which leads to higher sales revenue and customer satisfaction. Customers with high persuasion knowledge (compared with customers with lower persuasion knowledge) are more favorably influenced by secondary selling involving company property but less favorably influenced by secondary selling involving nonfocal customers. In addition to reducing a focal customer's reactance to sales recommendations, secondary selling also helps primary selling (targeted at a focal customer) reduce the customer's reactance to a greater extent. Overall, the results provide evidence of the pervasive and influential role of secondary selling in boosting sales revenue and customer satisfaction in sales exchanges. [ABSTRACT FROM AUTHOR]

AbstractLand finance becomes a vital source of fiscal revenue for governments in developing countries. However, the high volatility of land prices introduces uncertainty to government fiscal income. This paper aims to study the impact of fluctuations in local government land finance revenues on corporate pollution behavior. Using data from 2000 to 2013, the study finds that for each standard deviation increase in the loss of local government land transfer revenues, corporate emissions of air and water pollutants rise by 4.23% and 6.25%. This relationship remains robust after a series of robustness checks and addressing endogenous issues. Mechanism analysis suggests that reduced land transfer revenue prompts local governments to lower environmental regulation standards, consequently diminishing corporate efforts in pollution reduction and increasing emissions. This effect is more pronounced in regions with high fiscal pressure, or in firms subjected to direct tax control by local governments. [ABSTRACT FROM AUTHOR]

The primary objective of this study is to conduct a comprehensive analysis of the relationships between liquidity (LIQ), capital structure (LEV), and financial performance (FIP). Additionally, we seek to investigate the indirect effect of liquidity (LIQ) on financial performance (FIP) by examining the intermediary role of the capital structure (LEV) of non-financial-listed companies in the Vietnamese stock market. This study utilizes PLS-SEM with a robust sample of 644 non-financial-listed companies in the Vietnamese stock market. The findings suggest that liquidity positively influences financial performance but negatively impacts capital structure. Conversely, capital structure negatively affects financial performance. Thus, liquidity indirectly enhances financial performance through capital structure mediation. This research result can provide suggestions for non-financial enterprises in making financial decisions to increase financial efficiency by increasing the holdings of highly liquid assets to prevent risks and take advantage of new investment opportunities in the future. In addition, increasing the holding of highly liquid assets also reduces debt pressure and reduces interest costs, thereby increasing financial efficiency. Our research shows that the relationship between economic factors is extremely complex; specifically, our research shows the true nature of the positive impact of liquidity on financial performance, including direct positive effects and indirect positive effects through capital structure. In addition, our research results also show that non-financial enterprises that want to increase financial efficiency need to pay attention to revenue growth, and non-financial companies with larger total assets (size) will have more advantages in increasing financial performance. [ABSTRACT FROM AUTHOR]

Research Summary: This study abductively investigates how a firm's degree of business model development—the extent to which strategic choices are crystallized—moderates the impact of a scientific approach to decision‐making on performance. We present findings from a field experiment involving 261 entrepreneurs, where treated entrepreneurs learn to apply a scientific approach, while control counterparts receive comparable content without this approach. Results show that the effect of scientific decision making varies with business model development. Treated entrepreneurs with higher degrees of business model development elaborated their theories of value focusing on lower‐level choices, achieving superior economic performance compared to controls. Conversely, treated entrepreneurs with lower levels of business model development reevaluated fundamental aspects, resulting in increased epistemic uncertainty and less favorable short‐term economic outcomes compared to controls. Using a field experiment with 261 entrepreneurs, we explored how the degree of business strategy definition influences the benefits of adopting a scientific approach to decision‐making. In the experiment, half of the entrepreneurs were taught to use a scientific approach for making decisions (the treated group), while the others received similar training without the scientific approach (the control group). Results show that treated entrepreneurs with already defined strategies benefited more, experiencing improved performance even in the short term. Conversely, treated entrepreneurs with strategies still under definition experienced more uncertainty and lower short‐term economic performance, as the scientific approach prompted them to reassess and adjust their core strategic decisions. [ABSTRACT FROM AUTHOR]

In order to improve the operation efficiency and market competitiveness, how to optimize the ticket pricing strategy of high-speed railway to match the dynamic supply-demand relationship was an urgent problem to be studied. Taking differentiated passenger demand and supply trains as the research object, the space-time service network based on train timetable was constructed. The generalized cost formula and travel utility formula of passenger travel were proposed, which contained economy, rapidity, convenience, comfort, and route correlation cost. A multi-objective dynamic pricing model was proposed. The model aimed at maximize the corporate revenue and maximize passenger travel benefit, and was solved by large neighborhood search heuristic algorithm and path size logit assignment based on capacity constraint-passenger flow increment accurate algorithm. Based on real data, the Shandong circular high-speed railway case compared the average total revenue under different ticket price adjustment ranges and the ticket price for different classes of trains under different OD levels. The case proved the practicability of dynamic pricing adjustment strategy considering train classification, which could provide a reference for the ticket price management of high-speed railway. [ABSTRACT FROM AUTHOR]

This paper focuses on how the employment of robot influences accounting comparability in Chinese manufacturing and provides evidence of a positive link. Promoting operating stability and reducing earnings management are two underlying mechanisms. Furthermore, the positive link is more significant in firms within high‐tech industries or owing higher skilled labour, with firms being covered by analysts or the legal environment being enhanced, and the positive link becomes more significant. Overall, our study brings substantial evidence that supports the spillover effect of robots on financial reporting. [ABSTRACT FROM AUTHOR]