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Using a sample of Chinese listed firms from 2007 to 2017, this study investigates the impact of trust on corporate innovation. We find that firms located in provinces with higher trust levels have both higher innovation inputs and outputs, indicating trust plays an important role in promoting corporate innovation. We further document that this association is more pronounced for firms with a higher degree of information asymmetry between boards and managers, and when CEOs have stronger incentives to engage in opportunistic behavior in innovation activities. In addition, we find that forced CEO turnover-performance sensitivity is lower and managers are less likely to underinvest in R&D in high trust areas, suggesting trust enhances corporate innovation through relationship alignment between shareholders and managers. We also find that trust promotes not only the quantity but also the quality of corporate innovation. Our study complements existing research that investigates factors encouraging corporate innovation and extends a growing body of literature that examines the impact of trust on corporate decisions. [ABSTRACT FROM AUTHOR]

Contract flexibility is like a double-edged sword for contractor opportunistic behavior, and it may both inhibit and promote such opportunistic behavior. This study constructs a dual-path integration model in which contract flexibility affects contractor's opportunistic behavior through trust and conflict. Based on principal-agent theory, building information modeling (BIM) application degree was selected as a moderating variable for the double-edged sword effect of contract flexibility. A partial least-squares structural equation model (SEM) was used to verify hypothesis based on data collected from 271 questionnaires. The results show that contract flexibility has a positive effect on reducing the opportunistic behavior of contractors through trust, and at the same time, it induces the opportunistic behavior of contractors through payment conflicts. Additionally, the BIM application degree does not solve the double-edged sword effect dilemma of contract flexibility, but amplifies the negative effect of contract flexibility, and then induces the contractor's opportunistic behavior. The findings of this study contribute to the formation mechanism and governance strategy of contract flexibility. It also finds that the use of BIM technology has not achieved the desired effect because the technological development is not synchronized with the development of organizations and people, which provides a new research perspective for the integration of social and technological systems. [ABSTRACT FROM AUTHOR]

This study focuses on addressing quality supervision issues related to opportunistic behavior within the geographical indication product supply chain. It constructs an evolutionary game model comprising suppliers, distributors, government, and network media. Through analysis, it examines the influence of key factors on the decision‐making dynamics of game participants and presents management suggestions accordingly. The findings are as follows: firstly, the dual supervision model with the assistance of network media can compensate for the regulatory gaps of the government's single supervision model. Secondly, the credibility of network media plays a pivotal role in determining the efficacy of public opinion supervision. With high credibility, measures such as increasing the synergy coefficient, imposing higher fines or compensation amounts, and enhancing the impact of reputational factors can all restrain the misconduct of operating entities. Conversely, when credibility is low, not only does the supervisory function of network media falter, but it also leads to reputational damage for both the operating entities and the government. Thirdly, differentiated management should be adopted for entities in different nodes of the supply chain; higher constraint intensity should be imposed on distributors compared to suppliers. The outcomes of this study provide some analytical paths for supply chain quality supervision and corporate behavior management and underscore the significance of collaborative regulation for sustainable industry practices. [ABSTRACT FROM AUTHOR]

Using a panel dataset of contract‐year observations for Major League Baseball (MLB) players, this study looks to understand how job security affects incentives for worker performance. Prior works have found evidence of diminished performance when job security is high in the early years of guaranteed contracts (shirking) and heightened performance when job security is low at the end of contracts when players are hoping to secure new contracts (opportunistic behavior). The focus of this study is on how socio‐economic background interacts with job security to influence performance. Theory and empirical evidence suggest that workers from disadvantaged socio‐economic backgrounds may care more about job security, which could subsequently lead the performance of such workers to be more affected by changes to job security. This hypothesis is tested empirically. In testing this indirectly, evidence of stronger impacts of job security on performance of MLB players from lower income countries relative to those from higher income countries is found. To directly test this hypothesis, data on player socio‐economic backgrounds is hand‐collected. The performance of players from less‐advantaged socio‐economic backgrounds is found to be more affected by job security. Given that job security is common in many work settings, these findings have implications for workers and employers both inside and outside of sports. [ABSTRACT FROM AUTHOR]

This study explores the relationship between financial reporting quality and insurer governance, with the hypothesis that robust governance procedures exert better control over managers' opportunistic behavior. The analysis is based on a dataset of insurer firms from 2014 to 2021. The econometric results obtained using the two‐step system GMM technique reveal that the overarching influence of corporate governance on enhancing financial reporting quality is evident, with board and risk governance matters the most. Among individual governance attributes, the optimal board size, a higher proportion of independent directors, audit and risk committees' size, and risk committee independence play a significant role in governing discretionary accruals. The efficacy of governance mechanisms considerably differs across life and non‐life insurers, shedding light on the nuanced dynamics within the Indian insurance market. The results lend empirical support to resource dependency and agency theories within the Indian insurance sector. The implications suggest potential avenues for amending or redesigning governance norms with specificities of insurers and the ultimate goal of fostering an environment conducive to enhancing the reporting quality of Indian insurance firms. [ABSTRACT FROM AUTHOR]

While vegetation has intensively been surveyed on mountain summits, limited knowledge exists about the diversity and community structure of soil biota. Here, we study how climatic variables, vegetation, parent material, soil properties, and slope aspect affect the soil microbiome on 10 GLORIA (Global Observation Research Initiative in Alpine environments) mountain summits ranging from the lower alpine to the nival zone in Switzerland. At these summits we sampled soils from all four aspects and examined how the bacterial and fungal communities vary by using Illumina MiSeq sequencing. We found that mountain summit soils contain highly diverse microbial communities with a total of 10,406 bacterial and 6,291 fungal taxa. Bacterial a-diversity increased with increasing soil pH and decreased with increasing elevation, whereas fungal a-diversity did not change significantly. Soil pH was the strongest predictor for microbial b-diversity. Bacterial and fungal community structures exhibited a significant positive relationship with plant communities, indicating that summits with a more distinct plant composition also revealed more distinct microbial communities. The influence of elevation was stronger than aspect on the soil microbiome. Several microbial taxa responded to elevation and soil pH. Chloroflexi and Mucoromycota were significantly more abundant on summits at higher elevations, whereas the relative abundance of Basidiomycota and Agaricomycetes decreased with elevation. Most bacterial OTUs belonging to the phylum Acidobacteria were indicators for siliceous parent material and several OTUs belonging to the phylum Planctomycetes were associated with calcareous soils. The trends for fungi were less clear. Indicator OTUs belonging to the genera Mortierella and Naganishia showed a mixed response to parent material, demonstrating their ubiquitous and opportunistic behaviour in soils. Overall, fungal communities responded weakly to abiotic and biotic factors. In contrast, bacterial communities were strongly influenced by environmental changes suggesting they will be strongly affected by future climate change and associated temperature increase and an upward migration of vegetation. Our results provide the first insights into the soil microbiome of mountain summits in the European Alps that are shaped as a result of highly variable local environmental conditions and may help to predict responses of the soil biota to global climate change. [ABSTRACT FROM AUTHOR]

Projects involve inter-organizational relationship cognition, which is central to collaborative engineering project value added. Interest in value added in the project lifecycle is mounting and gaining increasing attention in the research literature. However, little is known about how inter-organizational relationship cognition facilitates value added and how such cognition pushes a project toward higher end-states of value. The existing literature mainly analyzes and studies value added on functional analysis and cost control. There are predominantly static analyses of the factors that influence value added in studies. The guiding role of value added has not been adequately explored in the studies on the influencing factors of value added. Utilizing a combination of Structural Equation Modeling (SEM) and Fuzzy Cognitive Maps (FCMs), this study addresses how inter-organizational relationship cognition influences engineering project value added, identifying complex structures of interaction and cognition dynamics. Results indicate that: (1) A hybrid SEM–FCM method can be able to model dynamic interactions between inter-organizational relationship cognition and value added; (2) trust and shared vision have positive effects on in-role behavior and extra-role behavior. Shared vision has a negative effect on opportunistic behavior. In-role behavior and extra-role behavior have a positive impact on value added, while opportunistic behavior has a negative impact. Organizational behavior is an important mediating variable to explain the interaction between inter-organizational relationship cognitions and value added. This hybrid method explores the potential mechanisms of inter-organizational relationship cognition on project value added from novel perspectives on construction project management practices, proposing practical advice for further project management. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to explore how the effect of knowledge sharing through mergers and acquisitions (M&As) on new product development (NPD) performance is contingent upon two different types of control mechanisms: behavior control and outcome control. Design/methodology/approach: Leveraging the theory from transaction cost economics, this study provides answers regarding the roles of behavior and outcome controls. The hypotheses were tested empirically across a sample of 143 UK cross-border M&A firms. Findings: The results provide the increasing call for an integrative perspective and theory in the M&A literature in that knowledge sharing through M&As is deemed decisive for NPD performance, and while both control mechanisms are effective, behavior control is more effective in enhancing NPD performance than outcome control. Originality/value: The relevant M&A studies lack insights into the use of control mechanisms as a way to monitor the target firm's behavior and performance and reduce the risk of its opportunistic behavior. Appreciating the need for M&A literature that elaborates control strategy and structure, this study incorporates behavior control and outcome control into M&A mechanisms. [ABSTRACT FROM AUTHOR]

Purpose: This study examines whether real earnings management (REM) choices are connected with the ownership structure of politically connected businesses (PCBs). The authors also discuss the moderating role of audit quality (AQ) and family control (FC) on the relationship between PCBs and REM. Design/methodology/approach: The authors' study sample comprises firms registered on the Pakistan Stock Exchange (PSE). The sample examines the financial data of the firms that remained listed for the last eight years, i.e. from 2011 to 2018, excluding nonfinance companies and firms with incomplete data. The authors test the hypothesis using feasible generalized least squares (FGLS) regression methods. Findings: The authors find that PCBs show a high level of involvement in income-decreasing REM compared to nonPCBs due to lower litigation risk in REM. However, the authors' results also show that two monitoring mechanisms, AQ and FC, curb the opportunistic behavior of PCBs and reduce the intensity of REM in PCBs. Practical implications: The findings of the study are beneficial in decision-making for both internal and external stakeholders, such as creditors, shareholders and competitors. In countries like Pakistan, which fall in the category of emerging economies, PCBs show involvement in income-decreasing REM to change the accurate picture of financial information to attain personal goals, and investors in such countries have a low level of knowledge about earnings management strategies; thus, this study offers detailed knowledge and information to investors and shareholders about political connections and REM. This plays a crucial role for regulators in stiffening the rules and regulations to further assist in more secure financial reporting. Originality/value: This study contributes to the literature by providing a nuanced understanding of the interplay between political connections, REM, FC and AQ in the business context. Second, family-controlled businesses often exhibit distinct characteristics and governance structures compared to nonfamily-controlled firms. Exploring the moderating role of FC in the following relationship could provide valuable insights into how family dynamics influence the financial reporting practices of PCBs. Third, AQ is a critical factor in ensuring financial reporting transparency. However, the interaction between AQ, political connections, and REM remains relatively unexplored. This study explains how audit oversight affects the earnings management behavior of PCBs. [ABSTRACT FROM AUTHOR]

Public private partnership in infrastructure development can be used as an 'off the balance' tool to help governments hide real fiscal problems and facilitate the transfer of debt-repayments to their succeeding administrations. Using negative binomial regressions on a panel dataset of 40 low-and middle-income countries from 1992 to 2021, the paper finds that governments which high short-term external debts in stock and flows measurements are more motivated to participate in public private partnership. The results are robust through sensitive tests on different sampled dataset. These findings reaffirm the existence of fiscally opportunistic behaviors of public sectors in public private partnership in low-and middle-income countries. Results also indicate that governments which face re-election limitations have stronger motivations to implement infrastructure projects via public private partnership. These impacts are found to be stronger in less-developed economies and in Sub-Saharan African countries. [ABSTRACT FROM AUTHOR]

Sander lucioperca represents a potential candidate for aquaculture in Moroccan freshwater, but information concerning its diet and feeding habits is still lacking. This study therefore aims to contribute to the knowledge of the feeding ecology of this invasive species in Al Massira Reservoir, with particular emphasis on seasonal and intraspecific diet variation. Analysis of stomach contents revealed that the pike perch diet consists of various prey items, with an abundance of Lepomis gibbosus. However, S. lucioperca is also an opportunistic predator, capable of consuming other food resources when they become available in its habitat. This opportunistic behavior may account for the successful establishment of this species' population in a large reservoir, despite the coexistence of other carnivorous fish species. The dietary composition indicated a carnivorous diet with considerable seasonal variation. There was no significant sex-related or ontogenetic variation in the diet. The feeding intensity is similar between males and females, as well as across different size classes, but it varies according to the seasons. The results provide fundamental information about the feeding habits of this species, which is used for artificial culture research. [ABSTRACT FROM AUTHOR]

PurposeMotivationDesign/Methodology/ApproachMain findingsPractical implicationsNovelty/ContributionThis research aims to review the integration of blockchain in accounting issues by identifying patterns and areas of research and outlining a roadmap for future investigations.Although anecdotal evidence indicates a rising investment in blockchain technology, there is currently a lack of systematic literature reviews assessing its implications in accounting issues. While blockchain holds significant potential, the challenges and opportunities associated with its integration into financial reporting warrant further investigation.From 2017 to 2023, a systematic literature review in the accounting, business, and management journals from the Scopus Database identified 77 articles on blockchain and accounting.Increasing the quality of information using blockchain positively impacts governance, accountability, supply chain, innovation, shareholder value, and sustainability reporting. However, stakeholders' high expectations of these benefits, coupled with a minimal understanding of blockchain and the need for accounting regulations or standards governing blockchain adoption, may reduce the reliability and relevance of information derived from blockchain adoption, potentially leading to opportunistic behaviour.Organizations must manage risks amidst high expectations(hype) surrounding the adoption of this technology. Further research into earnings management – whether opportunistic or beneficial – and its impact on non-profits and SMEs could yield valuable insights.Provides a comprehensive overview of current accounting research on blockchain technology through a hybrid approach. [ABSTRACT FROM AUTHOR]

• Araujia sericifera appears to establish abundantly and indiscriminately throughout Johannesburg. • 48% and 11% of A. sericifera seeds germinated under shaded and full-sun conditions, respectively. • At a national scale, the distribution of A. sericifera is largely determined by human disturbance. The moth catcher vine, Araujia sericifera Brotero (Apocynaceae), is a prevalent invader in many countries worldwide, where it has been reported to be a significant threat to biodiversity and agriculture. However, limited knowledge exists surrounding the ecology, invasion and impacts of A. sericifera in South Africa, challenging the implementation of management efforts. Therefore, this study sought to understand the vine's invasion within a South African context. To determine the density of A. sericifera in response to ecological and socio-economic predictors, its abundance along roads in 42 Johannesburg suburbs was measured. Additionally, A. sericifera abundance was recorded on foot within two nature reserves in Johannesburg, where density estimates were found to be 29 times higher than those obtained via roadside surveys. At a local scale, there was no evidence to indicate that vegetation, urban cover, and median household income influence A. sericifera density, suggesting that the vine establishes indiscriminately across Johannesburg. To determine whether this opportunistic behaviour was reflected in the vine's recruitment, its emergence rates in response to shaded and full-sun conditions were investigated. Seedling emergence was higher under shaded conditions (47.8%) than under full-sun (11%). Using MaxEnt models, environmental variables affecting the plant's distribution in South Africa were identified. Human disturbance had a permutation importance of 85.6%, indicating that A. sericifera's establishment is largely driven by disturbance. While A. sericifera appears to be in its lag phase of invasion and is unlikely to invade natural ecosystems in the short term, its abundance in the two nature reserves suggests that management should be prioritised during this lag phase, prior to its potential expansion into less-disturbed areas. [ABSTRACT FROM AUTHOR]

The diet of the Cape genet Genetta tigrina is only well known in the coastal forests of South Africa, where either arthropods or small mammals are their dominant prey. Here, we aimed to demonstrate this species' opportunistic behaviour by investigating its feeding habits in the Albany Thicket Biome (Great Fish River Nature Reserve, Eastern Cape). We analysed 61 scats collected across the four seasons of the year deposited at 15 latrines by Cape genets, as confirmed through video-recordings. Small mammals were primary and arthropods secondary prey, respectively. We recorded seasonal variations in both percentage occurrence and volume of food remains, with peaks in consumption of small mammals in winter, and arthropods in spring–summer. The consumption of supplementary food items such as plant material was higher in spring and autumn, and particularly seeds/fruit in autumn. Reptiles and other food items occurred as trace foods throughout the year, although birds reached a peak in winter. Intermediate to high diet diversity and low to intermediate diet breadth indices were obtained for all seasons. Inter-seasonal diet overlap was intermediate to high depending on the diet descriptor and pairs of seasons considered. Cape genet is therefore a generalist opportunist forager that likely adjusts its diet according to seasonal variations in main prey availability, potentially leading to apparent seasonal or local "specialisms". [ABSTRACT FROM AUTHOR]

We investigate whether US House representatives favour special interest groups over constituents in periods of low media attention to politics. Analysing 666 roll calls from 2005 to 2018, we show that representatives are more likely to vote against their constituency's preferred position the more special interest money they receive from groups favouring the opposite position. The latter effect is significantly larger when less attention is paid to politics due to distraction by exogenous newsworthy events like natural disasters. The effect is mostly driven by short-term opportunistic behaviour than the short-term scheduling of controversial votes in periods with high news pressure. [ABSTRACT FROM AUTHOR]

With the rapid development of urban rail transportation, people's demand for subways has gradually manifested itself. The inherent complex attributes of subway project construction determine that subway project construction has a relatively high risk, resulting in huge losses. This paper takes the opportunistic behavior of the subway project as the research object, proposes the opportunistic behavior identification process, and constructs the opportunistic behavior identification model based on the BP neural network. Firstly, through the collection and analysis of subway accident cases, the main forms of opportunistic behavior are summarized, and the primary characteristic indicators for opportunistic behavior recognition are extracted using cluster analysis. Secondly, a recognition model based on a BP neural network is designed. The number of neurons in the input layer, hidden layer, and output layer of the model is determined, and the recognition model is subsequently trained and tested to validate its feasibility. Finally, the constructed opportunistic behavior recognition model is applied to an actual subway construction project, revealing that the construction enterprise of the project in question exhibits a high level of opportunistic behavior risk. Overall, the research results of this paper have important theoretical significance and practical value for the management level of subway project construction enterprises under the new situation and the identification and governance of opportunistic behavior of subway project construction enterprises. [ABSTRACT FROM AUTHOR]

Third‐party environmental evaluation by environmental organizations can provide an independent professional evaluation of firms' environmental behaviors. Because environmental organizations aim to improve environmental welfare, which reflects value rationality than instrumental rationality. We argue that third‐party environmental evaluation can reduce information asymmetries between central and local governments, and induce local governments to strengthen environmental enforcement, which in turn increases the pressure on polluters. At the same time, third‐party evaluation improves transparency and exposes firms' environmental opportunistic behavior, which increases the pressure on firms to take more responsibility for environmental protection. In an analysis of a large sample of Chinese listed firms over the period 2009–2018, we find that third‐party evaluation from environmental organizations has a positive impact on firms' environmental responsibility. This positive effect is stronger for firms located in regions with weak local protectionism and weaker for firms with less external shareholder monitoring. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to evaluate the relationship between integrated reporting and management's opportunistic behavior (i.e., accrual and real earnings management) and the moderating role of firm complexity. Design/methodology/approach: Data of firms at the Johannesburg Stock Exchange were collected and analyzed. The Johannesburg Stock Exchange is currently the primary exchange that mandates the practice of integrated reporting. Regression estimation models and robustness tests were applied to the analysis. Findings: This study concludes that integrated reporting quality reduces firms' accrual and real earnings management practices. It further concludes that the significant negative effect of integrated reporting quality on firms' earnings management practices is impeded by higher firm complexity. Originality/value: This study enhances the literature on the behavioral effect of a combined financial and sustainability disclosure practice on both accrual and real earnings management, specifically targeting South Africa's listed companies – the primary market currently mandates integrated reporting practice. [ABSTRACT FROM AUTHOR]

This study examines the governing role of gender diversity on the board of directors on conditional accounting conservatism and executive remuneration. Using proprietary data about women representation on the board of directors to investigate the impact on the choice between accounting methods and the structure of executives remuneration. A sample of listed firms on the London Stock Exchange from 2019 to 2022 is used. The results first document that firms exhibit a higher level of conditional accounting conservatism when women represent a larger fraction of the board. The analyses further establish different relationships between performance-based versus equity-based remunerations and conditional accounting conservatism. Last, the results show that women representation is related to pay out policy and its impact on conditional accounting conservatism. The findings also offer novel insights on the governing role and consequences of gender diversity of woman chairperson and/or woman CEO. Overall, contrary to notions of opportunistic behavior of executives, the results find that boards achieve more level of governance with more women representation. [ABSTRACT FROM AUTHOR]

We examine whether social capital mitigates managerial opportunism around share repurchase announcements. We find that firms headquartered in high social capital states are associated with: (i) higher repurchase completion rates, and more so in environments where governance is weak and the potential for misleading investors is high, (ii) a smaller likelihood of information manipulation such as revealing bad news before repurchases, and (iii) lower completion rates when shares are less undervalued. By documenting that firms' external social environments help curb managerial opportunism, our study suggests that the location of headquarters facilitates trustworthiness and affects ethical considerations in corporate announcements. [ABSTRACT FROM AUTHOR]

Simple Summary: Antimicrobial resistance is threatening health and the economy worldwide, not only in clinical settings, but also in livestock and wildlife management. Among the numerous wild animals affected, sea turtles are particularly exposed to antibiotics, due to biological and habitat characteristics. This study analysed the hospitalisation records in a sea turtle rescue centre in southern Italy during the last decade, focusing on the antibiotic resistance of bacteria isolated from clinical samples and organs. Resistance patterns to 7 antibiotics were examined in 138 bacteria isolated from 60 loggerhead sea turtles, highlighting 6 main bacterial families with different resistance rates. Vibrionaceae represented the predominant family, although the resistance rates did not exceed 10.5%. Similar results were described for Shewanellaceae, whereas the less represented families were those with the highest resistance rates and numbers of multidrug-resistant strains, especially Enterobacteriaceae and Morganellaceae. Previous antibiotic therapies appeared to enhance resistance, emphasizing the need to improve antimicrobial stewardship. Isolated bacteria are considered opportunistic pathogens, but their antibiotic resistance might compromise treatment and rehabilitation, potentially affecting the population health of these endangered species. Given the possible transfer of resistance across species, these findings should be considered from a One Health perspective, including other animals, humans and the environment. Antimicrobial resistance affects all environments, endangering the health of numerous species, including wildlife. Increasing anthropic pressure promotes the acquisition and dissemination of antibiotic resistance by wild animals. Sea turtles, being particularly exposed, are considered sentinels and carriers of potential zoonotic pathogens and resistant strains. Therefore, this study examined the antibiotic resistance profiles of bacteria isolated from loggerhead sea turtles hospitalised in a rescue centre of Southern Italy over a 9-year period. Resistance to ceftazidime, doxycycline, enrofloxacin, flumequine, gentamicin, oxytetracycline and sulfamethoxazole-trimethoprim was evaluated for 138 strains isolated from the clinical samples or organs of 60 animals. Gram-negative families were the most isolated: Vibrionaceae were predominant, followed by Shewanellaceae, Pseudomonadaceae, Enterobacteriaceae and Morganellaceae. These last three families exhibited the highest proportion of resistance and multidrug-resistant strains. Among the three Gram-positive families isolated, Enterococcaceae were the most represented and resistant. The opportunistic behaviour of all the isolated species is particularly concerning for diseased sea turtles, especially considering their resistance to commonly utilised antibiotics. Actually, the multiple antibiotic resistance was higher when the sea turtles were previously treated. Taken together, these findings highlight the need to improve antimicrobial stewardship and monitor antibiotic resistance in wildlife, to preserve the health of endangered species, along with public and environmental health. [ABSTRACT FROM AUTHOR]

Study of the diet of squid is hampered by the fact that these animals masticate their prey prior to ingestion and do not necessarily ingest the hard parts that allow the identification of prey remains present in the stomach. The result is a large percentage of prey in stomach contents that can be identified only according to broad categories (e.g., "teleost fish"). This is widely described in the literature and has also been found in samples from the English Channel of the two loliginid squid fished in this area (Loligo forbesii and Loligo vulgaris). New biological samples of both species were collected at the Port-en-Bessin fish market during the 2019–2020 fishing season. Stomach contents were studied through DNA metabarcoding targeting a small fragment of the COI mitochondrial gene selected by PCR and sequenced using high-throughput next generation sequencing. The DNA metabarcoding results were compared with databases available online. These preliminary results validated a protocol based on commercial samples kept frozen (−20 °C) before analysis. Sequences allowed 34 different types of prey to be identified to the species level, including 17 teleost fish species. Results revealed the high occurrence of cuttlefish eaten by both species of squid. Food composition was analysed in order to make comparisons between species, between seasons (in L. vulgaris) and according to the size of the predator. Differences in diet of L. vulgaris between November and March samples were greater than the difference between L. vulgaris and L. forbesii, which is consistent with opportunistic behaviour in these squids. Differences in diet related to predator size do not suggest a change in trophic level during the growth of recruited stages. [ABSTRACT FROM AUTHOR]

This study examines the effects of corporate governance (CG) on investment inefficiency for 506 Indian listed firms. Using new stipulations of CG and globally recognized governance practices, an overall corporate governance index (CGI) and five sub‐indices such as board index (BINDEX), audit index (AINDEX), ownership index (OINDEX), nomination and remuneration index (NRINDEX), and disclosure index (DINDEX) were constructed. Employing newly developed governance indices along with firm‐specific control variables, several pooled regression models were estimated. Robustness checks were conducted using two‐step system GMM and an alternate measure of managerial investment efficiency. The pooled estimated coefficient of CGI and sub‐indices (except OINDEX) on investment inefficiency, overinvestment and underinvest is found to be negative and significant suggesting that effective/robust governance at firm level reduces investment inefficiencies (improves investment efficiency) through effective supervision and monitoring thereby reducing the opportunistic behavior of managers. [ABSTRACT FROM AUTHOR]

Purpose: In this study the authors examine the nature and contents of key audit matters (KAMs), and the consequences of KAMs reporting on audit quality in the context of a developing country, Bangladesh. The authors' proxies of audit qualities are discretionary accruals, small positive earnings surprise, audit report lag, earnings management via below the line items and audit fees. Design/methodology/approach: The authors use content analysis of the KAMs for the period 2018–2021 to understand the nature and extent of KAMs reported by auditors in Bangladesh. The authors then use multivariate regression analysis to examine the effect of the number and content characteristics of KAMs on audit quality by using multivariate regression analysis. Findings: Auditors in Bangladesh disclose a higher number of KAMs compared to other countries, disclose short descriptions of KAMs and industry generic KAMs. The authors document significant cross-sectional variations in the number and content characteristics of KAMs reported by auditors in Bangladesh. The authors' pre-post analysis suggest that audit quality has improved after the adoption of KAMs. Cross-sectional analysis suggests that KAMs number and content characteristics are related to audit quality. Practical implications: The authors' findings imply that the KAMs reporting has the potential to play significant monitoring role in reducing the opportunistic behavior of managers. Hence, KAMs reporting can play a significant role in reducing the agency problem. For regulators, shareholders and corporate managers, the authors' findings imply that if the audit quality is to be increased, the audit effort should be supported by an appropriate amount of audit fee. Social implications: The content characteristics of KAMs significantly influence managerial reporting behavior and affect the level of audit efforts. Originality/value: Unlike developed countries (Gutierrez et al., 2018; Lennox et al. 2022), this study supports that KAMs reporting improves audit quality and control opportunistic behavior of managers in developing countries. The authors show that even though the KAMs disclosure quality is poor, it has the potential to improve financial reporting quality. [ABSTRACT FROM AUTHOR]

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Purpose: This study aims to examine how capital structure influences earnings management for firms in the Saudi market, which is influenced by an Islamic environment that discourages excessive borrowing. Design/methodology/approach: This study uses a data set that covers the period from 2013 to 2020 for firms listed on the Saudi Stock Exchange (Tadawul) and uses panel data regression models to test the impact of capital structure on earnings management. Findings: The empirical results reveal that earnings manipulation is less common among firms that have less debt, which implies that firms in the Saudi market face high scrutiny to maintain lower leverage to meet the investment requirements of stakeholders based on religious status, which in turn reduces information asymmetry and constrains opportunistic behaviour in managing earnings. Practical implications: This study provides insights for regulators, investors, and managers on the role of religion in shaping capital structure and monitoring financial reporting practices. This study recognises that firms' decision-making can be explained by non-economic motives, such as religion, which can serve as a less costly external mechanism to alleviate agency costs compared to other economic motives. Originality/value: This study contributes to the literature by exploring how capital structure and earnings management relate to a distinctive and unique Islamic context that remains largely unexamined. This context allows us to investigate this issue by examining how the Islamic environment, which is not driven by economic or legal reasons, affects managers' choices of capital structure and earnings management. This study reveals how a strong religious setting can shape firms' choices regarding capital structure and financial reporting practices. [ABSTRACT FROM AUTHOR]

Purpose: Drawing on the relational view and contingency theories, this study explores supply chain relationship conditions' roles in interrelationships between environmental, social and supply chain performance (SCP), i.e. triple bottom line (TBL). Design/methodology/approach: The data from industries and structural equation modeling (SEM) were used to validate the proposed model. Interviews with industry experts were conducted to further understand the findings. Findings: The authors find that relationship conditions, such as inventory information sharing, dependency, opportunistic behavior and conflicts, moderate TBL linkages. Interestingly, power asymmetry does not moderate the linkages. Social performance mediates between environmental and SCP. This indirect effect is stronger than the effect of environmental performance on SCP. Originality/value: This research is perhaps the first to bring a much-needed nuanced view on the importance of relationship conditions for TBL performance linkages. The research further underlines the importance of social performance in an emerging economy. [ABSTRACT FROM AUTHOR]

The existing studies on the relationship between ESG and earnings management provide mixed evidence and ignore ESG rating divergence. Using a sample of Chinese listed firms from 2009 to 2021, we examine the effect of ESG performance on earnings management under different levels of ESG rating divergence. The results reveal a negative association between ESG performance and earnings management. Meanwhile, among firms with high (low) ESG rating divergence, our results show that the degree of earnings management rises (falls) when the firms engage in ESG practices. Our findings are robust to alternative variable definitions and the Heckman two‐stage selection model. In addition, we exclude alternative explanations and consider the effect of greenwashing. Cross‐sectional analyses show that the moderating effect of ESG rating divergence is significant only among firms with greater CEO power and higher agency costs, suggesting that agency problems are the mechanism by which ESG rating divergence positively moderates the relationship between ESG performance and earnings management. This study advances the existing research on ESG and earnings quality by presenting new empirical evidence and revisits ESG rating divergence through the lens of agency theory, revealing that management could use ESG for opportunistic behavior in the presence of ESG rating divergence. Our study shows that the divergence in ESG ratings can affect the economic consequences of firms' ESG practices, offering insights for future research on ESG and ESG rating divergence and for regulators to improve the regulation of ESG disclosure and rating. [ABSTRACT FROM AUTHOR]

The article examines the peculiarities of influence of operating environment an enterprise on business processes. Considerable attention is paid to negative influence of external environment, in particular, seven factors in the process of growth of inertia are highlighted, namely: 1) fierce competition; 2) limited resources; 3) complexity and high cost of logistics operations; 4) institutional restrictions; 5) destabilization of financial system; 6) change of standards and norms; 7) reduction of target markets. The factors of negative influence of internal environment are singled out as a set of manifestations of economic security destabilization in order of increasing inertia, which are 1) ineffectiveness of research work at an enterprise; 2) problems of responsibility areas distribution; 3) problems of managing operational processes; 4) low efficiency of marketing system; 5) insufficient financial support; 6) absence of effective control system; 7) conflicts; 8) workers' opportunistic behaviour. The article assesses the deterioration of an enterprise business process, taking into account the listed factors of negative impact. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to contribute to the discussion on how multinational company (MNC) headquarters (HQs) can manage the existing coopetition paradox to ensure innovation within the MNC. In contrast to the rather scarce previous research, the authors argue that HQ needs to solve the coopetition paradox under the sway of a parenting paradox. Hence, HQ faces a dual paradox. Design/methodology/approach: Drawing on the literature on HQ's role during MNCs' innovation processes, this conceptual paper revisits the previously suggested HQ measures to enable coopetition among subsidiaries. By applying a sheer ignorance perspective, the authors contribute with a more nuanced understanding of the HQ's role in innovation activities. Findings: The article identifies four challenges as the HQ faces a parenting paradox that hinders its ability to solve the coopetition paradox: context specificity of subsidiaries' innovation work, normative expectations of subsidiary managers, potential opportunistic behavior of HQ manager and HQ underestimation of needed resources. The article suggests that HQ needs to become more informed and preferably even embedded in the local innovation networks of its most important subsidiaries and that coopetition should not be managed solely on an HQ level. Originality/value: Advocating a sheer ignorance perspective, the article pioneers in discussing the role that HQ plays in managing coopetition among subsidiaries in innovation activities. [ABSTRACT FROM AUTHOR]

Markets often falter during crises. Recently, the COVID-19 pandemic and the massive power grid collapse in Texas have caused market failures concerning medical supplies, paper goods, gasoline, electricity, and other necessities. By disrupting standard market conditions, disasters commonly lead to the supply of necessities being outpaced by demand. Some vendors seek to exploit this dynamic, increasing their prices exponentially and shamelessly engaging in disaster profiteering. While nearly every state has enacted anti-price gouging laws that proscribe such practices, these laws differ substantially from each other in what they prohibit and in how vigorously they have been enforced. While anti-price gouging statutes have existed for decades, the scale of the market disruptions witnessed in the past few years have put them into the public consciousness like never before. While this publicity has led to coverage in popular media and a surge of interest from scholars, these laws have been severely undertheorized within the legal academy. This Article addresses this gap. It begins by analyzing how states, the federal government, and other nations have regulated price gouging. It then reviews the types of exploitative conduct commercial actors have engaged in during recent disasters and the results of governmental enforcement actions. After reviewing the traditional legal and economic objections to anti-price gouging laws, it establishes the flaws in these arguments. Not only are these arguments shown to be theoretically unsound, but they are also demonstrably undermined by recent qualitative data. This Article concludes by arguing that the adoption of specific reforms to anti-price gouging laws would help them protect consumers from exploitation while minimizing negative externalities. [ABSTRACT FROM AUTHOR]

Online, pure-labor service platforms (e.g., Zeel, Amazon Home Services, Freelancer.com) represent a multibillion-dollar market. An increasing managerial concern in such markets is the opportunistic behavior of service agents who defect with customers off platform for future transactions. Using multiple methods across studies, the authors explain this platform exploitation phenomenon. In Study 1, they utilize a theories-in-use approach to clarify why and when platform exploitation occurs and derive some hypotheses. Study 2 empirically tests these hypotheses using data from a health care platform that connects nurses and patients. The results indicate that high-quality, long-tenured service agents may enhance platform usage, but customers also are more likely to defect with such agents. Platform exploitation also increases with greater customer–agent interaction frequency (i.e., building stronger relationships). This phenomenon decreases agents' platform usage due to capacity constraints caused by serving more customers off platform. These effects are stronger as service price increases (because higher prices equate to more fee savings), as service repetitiveness increases, and as the agent's on-platform customer pool comprises more repeat and more proximal customers. Finally, the authors use two scenario-based experiments to establish some managerial strategies to combat platform exploitation. [ABSTRACT FROM AUTHOR]

Copyright of Tourism & Management Studies is the property of Escola Superior de Gestao, Hotelaria e Turismo, Universidade do Algarve and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Environmental & Social Management Journal / Revista de Gestão Social e Ambiental is the property of Environmental & Social Management Journal and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study draws on theory of dyadic morality and categorization to disentangle opportunistic behaviors from the perception by their victim that leads to the moral categorization of the perpetrator as an opportunist. We show that it is this moral categorization, not the behaviors, that determines the trust beliefs of the victim. Further, the effect of psychic distance on the process of perpetrator moral categorization as an opportunist depends on the form of opportunistic behaviors. Finally, this study questions the cultural universality of opportunism by showing that effects of opportunistic behaviors on categorization vary across national cultures—based on data sets of French and Slovene exporters. [ABSTRACT FROM AUTHOR]

The constructivist approach to community development recognizes the transformative and innovative role of the social aspect (social capital) of social economic organizations, to promote inclusive processes of resource mobilization and management of the commons. The research identifies relational strengths and weaknesses in rural productive organizations of the social economy of the province of Manabí-Ecuador, through the assessment of social capital. The methodology applied to assess social capital incorporates components of the institutional, cognitive and structural dimension, in three areas of analysis: territorial context, profile of the organization and relationship between members. At the territorial level, the limited coverage of public services affects all organizations, makes living conditions precarious, makes relationships difficult and confines development opportunities. The assessment of the organizational profile shows strengths to establish roles, rules and procedures and weakness in the construction of networks with external actors. For the relationship between members, the difficulty lies in maintaining a shared vision and sanctioning opportunistic behavior. Therefore, identifying the differences in the relational conditions of organizations, according to the level of social capital endowment, it is useful to guide the formulation of practical intervention strategies that promote local development through the strengthening of associations and cooperatives. [ABSTRACT FROM AUTHOR]

An international scientific conference on "Ethics and Innovations in Public Administration" was held at ISM-IAE, Saint-Quentin-en-Yvelines, Université Paris-Saclay. The conference aimed to explore the topic of innovation in public administration, which is less studied compared to the private sector. The contributions presented at the conference will be published in a collective work by Springer. The conference highlighted the need for public organizations to adopt innovative approaches, such as customer experience and quality management, in order to meet the changing needs of citizens. The conference also emphasized the importance of ethics in digital innovations within public administration. The project aims to contribute to the ethical analysis of innovations in the public sector, particularly digital innovations, and to improve day-to-day practices in public administration. [Extracted from the article]

We study the impact of stronger shareholder control on bondholders. We find that the passage of shareholder-sponsored governance proposals causes a decline in credit default swap spreads, indicating a net positive effect on bondholders. Evidence suggests that the direct benefit of stronger shareholder control, through the "management disciplining" channel, is larger than the combined adverse effects of directly escalating shareholder-bondholder conflict and indirectly exacerbating exposure to shareholder opportunism. Results are stronger for firms with existing high levels of shareholder-bondholder conflict and for proposals that mitigate managerial entrenchment without exacerbating risk-shifting. Finally, stronger shareholder control improves credit ratings and operating performance in the long-term. [ABSTRACT FROM AUTHOR]

A correction to the article "The pursuit of power corrupts: How investing in outside options motivates opportunism in relationships" is presented which raises concerns over the article's date of 2011 and its original data no longer being available.

Behavioural uncertainty is an important factor in building contractual relations, which can lead to significant risks in the process of concluding and implementing a contract as the main tool for economic exchange. This article explores the most typical types of opportunistic contracts, based on the personal business experience of the authors and on the practice of interaction between business entities in today's Russian economy. An opportunistic (mined) contract is a written procedure for the interaction of economic agents providing for some contract terms and conditions that can significantly change the economic effect of the contract execution with an unjustified benefit for one of the parties to the detriment of the other party to the contract, which is not obvious at first glance, but can happen in the process of the contract implementation (or under the impact of a certain combination of external factors). The authors give a definition of an opportunistic contract, define its characteristics and consider some practical examples of the contractual opportunism manifestation. They conclude that the fundamental precondition for the widespread institutional practice of opportunistic (mined) contracts is an insufficient effectiveness of the judicial system and the judicial and other mechanisms for protecting the violated rights of business entities. The main negative effect of opportunistic contracts on economic processes is a significant increase in transaction costs. [ABSTRACT FROM AUTHOR]

We examine the relevance of informal contracting mechanisms for corporate innovation. Using social capital to capture the social costs imposed on opportunistic behavior by management, we report evidence that firms headquartered in states with higher levels of social capital are associated with more innovation. This result is more pronounced when employees are more susceptible to holdup (e.g., firms with low labor union coverage, firms located in states with weak legal protections for employees, and firms surrounded by few external employment opportunities) and when employees face higher levels of information asymmetry. Our study highlights the importance of informal contracts for innovation. [ABSTRACT FROM AUTHOR]

Objective: This work analyzes the implications of opportunistic practices derived from information asymmetries in the honey market, as well as the role of Information Systems as a strategy to improve the distribution of information among agents. Methodology: through the analysis of the literature in Business Economics, the importance of Information Systems to improve efficiency in the markets is identified. Results: The mechanisms to reduce opportunistic behaviors include the use of government regulations, and Information Systems. In the case of Mexican honey, there is government regulation NOM-004-SAG/GAN-2018, as well as some certifications and Denomination of Origin proposals. The development of differentiated market niches is proposed to boost the performance of the sector, where producers can compete based on reputation for quality and benefits, beyond price. Limitations: the findings are based on the literature review carried out; however, when facing a complex problem, having instruments developed in economic thinking enriches the discussion and encourages finding solutions from a multidisciplinary approach. Conclusions: opportunistic behaviors reduce market efficiency and the ability to compete, so Information Systems can contribute to minimizing information asymmetries and generating benefits for economic agents. [ABSTRACT FROM AUTHOR]

Although the shareholder benefits of investor conferences are well-documented, evidence on whether these conferences facilitate managerial opportunism is scarce. We examine whether managers opportunistically exploit heightened attention around the conference to "hype" the stock. We find that (1) managers increase the quantity of voluntary disclosure leading up to the conference, (2) these disclosures are more positive in tone and increase prices to a greater extent than post-conference disclosures, and (3) these disclosures are more pronounced when insiders sell their shares immediately prior to the conference. In circumstances where pre-conference disclosures coincide with pre-conference insider net selling, we find evidence of a significant return reversal––large positive returns before the conference and large negative returns after the conference––and that the firm is more likely to be named in a securities class action lawsuit. Collectively, our findings are consistent with some managers hyping the stock prior to the conference. [ABSTRACT FROM AUTHOR]

Financial markets have witnessed a dramatic shift in financial flows in recent years from Active fund management where professional investors attempt to beat the market (generate 'alpha') to Passive investment where portfolios are assembled that follow existing market indicators (track 'beta'). This transition has important implications for both corporate governance and wider society, with potentially significant distributive effects. Passive investing is predicated upon different bodies of knowledge and is suggestive of an epistemic shift of sorts in financial markets. In such circumstances, field theory suggests that incumbent groups like Active players will try to adapt to the new rules of the investment game. However, drawing from an empirical study which explores the views of the Active investment community in both the United Kingdom and the United States, we document significant defensiveness vis-à-vis the rise of Passive investing. Whereas behavioural approaches might explain this defensiveness in terms of irrationality, the conceptual approach advanced here instead emphasizes the epistemic opportunism (convoluted and self-serving attempts to demonstrate superior knowledge) that communities strategically engage in to justify their position. As such, we conclude that financial markets should be understood as constituted by slowly evolving communities of practice whose habits, routines and ways of knowing can be difficult to shift, even when faced with overwhelming evidence that what they are doing doesn't work most of the time. [ABSTRACT FROM AUTHOR]

The article explores opportunism in shareholder voting and engagement of Big Three investment advisers BlackRock, Vanguard and State Street in index funds. Topics discussed are collective action problem in shareholder voting and engagement, role of proxy advisors, opportunism in the use of delegated voting authority, portfolio primacy, millennial marketing strategy of the Big Three, and fiduciary duties under the Employee Retirement Income Security Act (ERISA) and Investment Advisers Act.

Transaction cost economics can be used to detect opportunistic behavior by one or more actors within a sales network. Using a sample of firms in the medical industry, where the role of salespeople is important, this study examines network centrality as a determinant of a salesperson's opportunistic behavior in intrafirm relationships. The results indicate that opportunistic behavior is affected differently depending on a salesperson's relational and positional centralities. While relational centrality decreases opportunistic behavior by providing motivation to protect one's reputation, positional centrality negatively moderates the effect of relational centrality on opportunistic behavior. However, with a high relational centrality, a salesperson is less likely to be opportunistic when she or he is low in positional centrality than when her or his positional centrality is high. [ABSTRACT FROM AUTHOR]