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This study investigates the moderating influence of the business strategy type on the correlation between environmental, social and governance (ESG) investment and efficiency in the gambling industry. By employing the range directional measure–network data envelopment analysis model, this study focuses on a sample of 29 gambling firms in North America, Europe, Asia and Oceania for the period of 2019–2022. Findings show that (i) the gambling industry demonstrates steadily increasing trends in the three ESG pillars; (ii) the gambling firms in Asia outperform their counterparts in North America across the three ESG pillars, and among the industry classifications, the betting operators lead in performance in the ESG pillars; and (iii) the adoption of an aggressive business strategy will enhance the translation of social responsibility investment and governance practices into heightened sustainability efficiency and marketability efficiency, respectively. Overall, this study enriches the ESG investment literature by exploring the moderating role of the business strategy type and provides insights into how diverse business strategies within the gambling industry can shape the outcomes of ESG initiatives. The implications of the findings extend to management teams and offer valuable insights into the interplay between the business strategy type and the ESG–firm efficiency nexus. Policymakers can leverage the results to design regulations and incentives that align with the different strategic profiles adopted by gambling firms to foster the creation of tailored and effective approaches for strengthening their sustainability in the industry. [ABSTRACT FROM AUTHOR]

This paper utilizes network data envelopment analysis and the second-order cone programming approach to evaluate the performance of 20 Taiwanese local governments (which consist of 6 municipal governments and 14 non-municipal governments). We first explore the fiscal policies in local governments using non-parametric methods. Second, this study develops an innovative two-stage process to measure the effects of fiscal policies to economic efficiency and fiscal effectiveness of 20 local governments for from 2010 to 2016. Several findings are summarized as follows. (1) Non-parametric results reveal that current and capital expenditures, as well as tax and non-tax revenue of municipal governments, were higher than non-municipal governments. (2) The municipal governments have a higher economic efficiency level and fiscal effectiveness yearly and on average based on the two-stage efficiency scores. Overall, empirical results provide insights to local governments on the efforts to integrate resources that will exert a synergistic effect on governance performance. To mitigate economic problems arising from increasing fiscal deficits, it is recommended to implement forward-looking policies and allocate government funds wisely during the early expansion stage. This can be achieved by analyzing tax systems and adopting fiscal policies that boost tax revenue and enhance overall fiscal effectiveness. [ABSTRACT FROM AUTHOR]

Byline: Day-Yang Liu, Chung-Chi Liu The purpose of this paper is to study the key successful factors of an entrepreneur/venture capitalist from a true story of an overseas Chinese Business strategy. The methodology for this paper was mainly applying the 'Blue Ocean Strategy' analytical framework by Kim and Mauborgne to a case study on a true story of Wu-Fu Chen (Chen). An extensive literature review was carried out before several interviews were conducted in person to examine how Chen had achieved his ambition, given no cash at hand, and how venture capital had played an important role on his career as an entrepreneur/venture capitalist over the years. The major conclusions drawn from this paper include the following: (1) to disregard all other inappropriate investments and just focus on fibre glass and wireless communications since the 1990s, (2) to reduce the investment scale and to keep the size of the company relatively small to maintain full flexibility and more focus, (3) to open up many venture capital companies simultaneously with innovative management skills to maintain high management performance, (4) last, but not the least, taking 'Blue Ocean Strategy' by keeping on endless innovation and staying on uncontested market all the time.

Byline: Day-Yang Liu, Lon-Fon Shieh The purpose of this study is to develop a theoretical model with which to describe the relationship between public R&D subsidy programmes and corporate R&D spending. For this I have chosen Taiwan's leading product development programme as a basis for empirical study. The basic model for this study is to apply both the Capital Asset Pricing Model by Sharpe and Linter (1964) and Arbitrage Pricing Theory by Ross (1973) to the analytical return-risk framework in corporate R&D spending by Carmichael (1981). The total samples of the firms involved in this government R&D subsidies programme are firms during the 19912000 time period. The empirical results show that no matter the size of the company, the self-finance funding in R&D spending of the company shows positive correlation with both the corporate capital of the company and the government R&D subsidy. In contrast, the results also show a negative correlation with the sales revenue a year ahead. A single policy may entice companies to raise R&D expenditure under the conditions of investment tax credit on personnel training and on R&D spending, the technology development programme for enterprise, and subsidies from the leading product development programme. If the government exerts subsidy measures combined with bundling measures, this will demonstrate that the synergy of a comprehensive policy will be better than a single policy.