Energy Efficiency & Socially Responsible Markets

@article{mali_3855,

title = {DaMoOp: A global approach for optimizing denormalized schemas through a multidimensional cost model},

author = {Jihane Mali and Ahvar Shohreh and Faten Atigui and Ahmed Azough and Nicolas Travers},

url = {https://doi.org/10.1016/j.is.2025.102598},

year  = {2026},

date = {2026-02-01},

journal = {Information Systems},

volume = {136},

pages = {102598},

abstract = {The complexity of database systems has increased alongside the exponential growth of data, necessitating Information Systems (IS) architects to continuously refine data models and meticulously select storage and management options that align with requirements. While existing solutions focus on data model transformation, none offer guidance in selecting the most suitable data model for a given use case. In this context, we propose DaMoOp, an automated approach for leading data model selection process. DaMoOp starts from a conceptual model and associated use case comprising queries, settings and infrastructure constraints, to generate relevant logical data models. A cost model, considering environmental, financial, and temporal factors, facilitates comparison and selection of the most suitable data model. Our cost model incorporates both data model and queries costs. Additionally, we suggest a data model selection process that enhances the ability to choose the optimal data model(s) for a specific use case, while also adapting to rapidly evolving use cases. We provide a strategic optimization approach designed to identify the most cost-efficient and stable data model as use case scenarios evolve. Moreover, we offer a simulation tool for the entire process, which enables visualizing the impact of use case variations on data model costs, thus empowering IS architects to make informed decisions.},

note = {The complexity of database systems has increased alongside the exponential growth of data, necessitating

Information Systems (IS) architects to continuously refine data models and meticulously select storage and

management options that align with requirements. While existing solutions focus on data model transformation,

none offer guidance in selecting the most suitable data model for a given use case. In this context, we propose

DaMoOp, an automated approach for leading data model selection process. DaMoOp starts from a conceptual

model and associated use case comprising queries, settings and infrastructure constraints, to generate relevant

logical data models. A cost model, considering environmental, financial, and temporal factors, facilitates

comparison and selection of the most suitable data model. Our cost model incorporates both data model and

queries costs. Additionally, we suggest a data model selection process that enhances the ability to choose the

optimal data model(s) for a specific use case, while also adapting to rapidly evolving use cases. We provide a

strategic optimization approach designed to identify the most cost-efficient and stable data model as use case

scenarios evolve. Moreover, we offer a simulation tool for the entire process, which enables visualizing the

impact of use case variations on data model costs, thus empowering IS architects to make informed decisions},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{latukha_3902,

title = {The double bind: Human resource management under sanctions and skilled labor exodus},

author = {Marina Latukha and Desislava Dikova and Andrei Panibratov and Nikita Kuleshov},

url = {https://www.sciencedirect.com/science/article/pii/S0969593125001337?via%3Dihub},

year  = {2026},

date = {2026-02-01},

journal = {International Business Review},

volume = {35},

number = {1},

pages = {102520},

abstract = {This paper examines how human capital (HC) outflows, triggered by economic sanctions imposed on Russia, constitute a profound environmental disruption with long-term consequences for firms. Drawing on HC theory and based on case studies of three companies in the Russian IT sector, the study analyzes how large-scale talent relocation, referred to as brain-drain, undermines firms' strategic investments in HC development. We find that in the face of sustained uncertainty, human resource (HR) managers adopt reactive approaches, leading to the widespread abandonment of professional development initiatives. We argue that this shift risks eroding orga- nizational capabilities and placing firms at a long-term competitive disadvantage. By moving beyond macro- economic discussions of sanctions and focusing on firm-level human resource management (HRM) responses, this study offers new theoretical insights into how geopolitical shocks reshape HRM practices and disrupt the un- derlying logic of HC investment in high-skill industries.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{vazquez-ferrel_3163,

title = {Political survival and legislative reselection in Mexico's chamber of deputies},

author = {Carlos Vazquez-Ferrel and Erik Ernesto Vazquez Hernandez},

url = {https://doi.org/10.1080/13572334.2024.2372953},

year  = {2025},

date = {2025-12-01},

journal = {The Journal of Legislative Studies},

volume = {31},

number = {4},

pages = {1009-1038},

abstract = {This article presents an empirical investigation into the factors influencing the renomination of legislators by party leaders for their continued presence in Congress. We argue that legislators who have previously held influential positions within Congress, such as Committee President, have a successful track record of (co)sponsoring bills, and have built distinguished political careers, are more likely to be renominated in Congress. To test this theory, we employ an original dataset sourced from the Mexican 2018-2021 Chamber of Deputies, which comprises the inaugural group of Congress members allowed to seek reelection after a 90-year prohibition within the context of a transforming party system marked by the diminishing electoral attractiveness of traditional parties. Our findings carry significant implications for comprehending how party leaders recognise and reward legislators who effectively safeguard the party's interests and uphold its reputation inside the halls of Congress.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{antonin_3851,

title = {Researchers of a Feather Flock Together: Endogamy Recruitment Tracks for Industrial Researchers},

author = {Céline Antonin and Pierre COURTIOUX},

url = {https://doi.org/10.1111/labr.70003},

year  = {2025},

date = {2025-12-01},

journal = {Labour: Review of Labour Economics and Industrial Relations},

volume = {39},

number = {4},

pages = {292-324},

abstract = {Based on French company data, we assess the hiring of different education profiles of industrial researchers in corporate R&D departments. First, our results show engineers are more likely to be recruited in corporate R&D that develops a patent-oriented strategy; PhD-holders are more likely to be recruited in firms that compete at the technological frontier and in companies that maintain close links with academia and public research. Second, new results reveal the endogamy of industrial researchers' recruitment based on the specifics of their scientific human capital and highlight the mitigating role of hybrid scientific human capital.},

note = {Revue ABS 1 2018, 2021 et 2024},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{khan_4052,

title = {Pathways to ethical consumption: the effects of altruism, self-identity, and ascribed responsibility},

author = {Hafiza Ayesha khan and Ali RAZA and Sana Ishaq and Umer Umair and Muhammad Ishtiaq ISHAQ},

url = {https://doi.org/10.1108/EBR-06-2025-0220},

year  = {2025},

date = {2025-12-01},

journal = {European Business Review},

volume = {Vol. ahead-of-print},

number = {No. ahead-},

abstract = {Purpose



Scholars have emphasized making consumers ecologically conscious in their consumption decisions. Likewise, it is vital to investigate the precursors that guide or serve as a road map for consumers to make wise choices. This study aims to examine the intricate interplay of motives (altruism, value consciousness and self-identity) that influence ethical consumption in Pakistan's hospitality industry. This study also assessed attitudes, ascribed responsibility as a mediator and environmental protection emotions as a boundary condition.

Design/methodology/approach



The data were collected from 522 individuals, and meticulous analysis was performed using structural equation modeling.

Findings



This study found that individuals with altruistic values and a high sense of self-identity are likelier to develop an attitude and take responsibility for ethical consumption. Moreover, the tendency of environmental protection moderates these relations.

Originality/value



This research employs the Value-Belief-Norm theory, offering novel insights for intellectuals to comprehend ethical consumption by exploring the psychological drivers that influence individuals to consume ethically, thereby enriching the literature.},

keywords = {},

pubstate = {online},

tppubtype = {article}

}

@article{courtioux_3448,

title = {How Tax Credit Shapes Firm R&D Strategies?},

author = {Pierre COURTIOUX and François Métivier and Antoine Rebérioux},

url = {https://www.degruyter.com/document/doi/10.1515/ael-2022-0098/html},

year  = {2025},

date = {2025-11-01},

journal = {Accounting, Economics and Law: A Convivium},

volume = {15},

number = {3},

pages = {437-470},

abstract = {This study extends the definition of firms' R&D strategies to integrate fiscal considerations related to R&D tax credits. Using French company data, we identify six types of ?extended' R&D strategies. We then examine the relationships of these strategies with the effective rate of R&D tax credits, defined as the ratio of total tax reliefs obtained by a firm through R&D tax credit to real R&D spending. This study contributes to a better understanding of the heterogeneity of companies' R&D strategies.},

note = {publication online de 2023 intégrée à un numéro en 2025},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{lacour_3784,

title = {Capillary properties of natural fibre assembly for evaporative purposes},

author = {Stéphanie Lacour and Véronique Aguié-Béghin and Brigitte Chabbert and Mario Scheel and Damien Thomas and Pascal Clain},

url = {https://doi.org/10.1016/j.colsurfa.2025.137145},

year  = {2025},

date = {2025-11-01},

journal = {Colloids And Surfaces A-Physicochemical And Engineering Aspects},

volume = {724},

pages = {137145},

abstract = {Natural fibres are well known for their high efficiency in evaporation and humidification applications, making them a promising solution for cooling processes during heat waves. Mimicking the evapotranspiration mechanisms of trees is essential for designing optimal fibre wicks in canopy-like devices. Such devices are designed by their capillary rising height and water storage capacity. This study examines the water retention properties and capillary rise height of various yarns: retention tests for surface properties and tomographies for topographical aspects are combined to explain observed water rising height in samples. Tomographic analyses document pore sizes, fibre diameters, and water distribution within the wicks. Water retention properties among the samples range from less than 10% to over 20% of dry mass, reflecting significant wettability differences. However, the ultimate height of water ascension primarily depends on the structural yarn properties. Repeated tomographic scans during the rise reveal that water initially ascends in fibre-dense regions. The competition between capillary and tensile forces causes displacements, redistributing fibre densities. In plant fibres, swelling amplifies these displacements and propagates them along the wick axis. Water envelops individual fibres or bundles, penetrating into the lumens. The size of wet lumens increases due to internal capillary pressure, which is influenced by the convexity of the internal walls. This pressure drives a creeping progression of the water front along the fibre axis. The study finds that a high number of strings with intermediate porosities, which accommodate swelling, enhances the capillary rise height. However, further research is needed to fully understand the role of lumens. While they provide additional water storage capacity and facilitate capillary action through small diameters, they may also reduce the flow rate of water ascent.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{khan_3827,

title = {Climate Change Initiatives, Environmental Management Training, and Firm Performance: The Trickle?Down Effect of Board?Level Gender Diversity on Gender Diversity in the top Management Team},

author = {Mushtaq Hussain Khan and Inam Ul Haq and Muhammad Umer Azeem and Abdul Ghafoor},

url = {https://doi.org/10.1002/bse.70061},

year  = {2025},

date = {2025-11-01},

journal = {Business Strategy And The Environment},

volume = {34},

number = {7},

pages = {9274-9300},

abstract = {We examine the interrelationships among climate change initiatives, environmental management training, and firm performance while considering the trickle-down effect of board-level gender diversity on gender diversity in the top management team (TMT). Using an unbalanced panel dataset of 117,410 firm-year observations from five regions, representing 11 industries and operating in 71 countries from 2013 to 2022, our findings reveal that climate change initiatives significantly enhance firm performance. Our results further exhibit that the interaction effects of gender diversity at the board and TMT levels (the trickle-down effect) support climate change initiatives by encouraging environmental management training (EMT), thereby improving firm performance. To address the potential endogeneity issues, we employed a two-step system generalized method of moments (GMM) approach. Our empirical results are robust to endogeneity and alternative measures. Overall, our evidence supports the Resource-Based View Theory and Upper Echelon Theory to demonstrate how a diverse TMT and board members can contribute to more robust climate change strategies by using EMT as a resource to achieve performance objectives. Hence, we make important contributions to the corporate governance and environmentalism strands of the literature by highlighting the role of gender in shaping climate change initiatives and influencing firm performance.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{bitar_3856,

title = {Can CSR in banking reduce corruption?},

author = {Mohammad Bitar and Hassan Obeid and Imane El Ouadghiri and Jonathan Peillex},

url = {https://doi.org/10.1016/j.frl.2025.107939},

year  = {2025},

date = {2025-11-01},

journal = {Finance Research Letters},

volume = {85},

pages = {107939},

abstract = {This study examines the impact of bank involvement in corporate social responsibility (CSR) on corruption. Using a sample of banks from 40 countries, the results show that CSR initiatives significantly reduce corruption, with consistent findings across tests. Mechanism analysis reveals that CSR mitigates corruption by strengthening regulatory frameworks, improving stakeholder protection, diversifying resources, and enhancing transparency. These findings emphasize the importance of integrating CSR into banking strategies and regulatory requirements to address social and environmental priorities and combat corruption.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{guerard_3916,

title = {Mixed Data Clustering Survey and Challenges},

author = {Guillaume Guérard and Sonia Djebali},

url = {https://doi.org/10.1007/s42979-025-04439-7},

year  = {2025},

date = {2025-11-01},

journal = {SN Computer Science},

volume = {6},

pages = {939},

abstract = {The advent of the big data paradigm has revolutionized the way industries han-

dle and analyze information, ushering in an era characterized by unprecedented

volumes, velocities, and varieties of data. In this context, mixed data clustering

emerges as a critical challenge, necessitating innovative approaches to effectively

harness the wealth of heterogeneous data types, including numerical and categor-

ical variables. Traditional methods, designed for homogeneous datasets, often fall

short in accommodating the complexities introduced by mixed data, highlight-

ing the need for novel clustering techniques tailored to this context. Hierarchical

and explainable algorithms play a pivotal role in addressing these challenges,

offering structured frameworks that enable interpretable clustering results, which

are essential for informed decision-making. This paper presents a method based

on pretopological spaces. Moreover, benchmarking against traditional numerical

clustering methods and pretopological approaches provides valuable insights into

the performance and efficacy of our novel clustering algorithm within the big

data paradigm.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{saeed_3944,

title = {Does the presence of a corporate social responsibility committee matter for bank risk-taking?},

author = {Asif SAEED and Sajid M. CHAUDHRY and Riadh Manita and Phassawan Suntraruk},

url = {https://doi.org/10.1108/RAF-05-2024-0175},

year  = {2025},

date = {2025-11-01},

journal = {Review of Accounting and Finance},

volume = {24},

number = {5},

pages = {601-618},

abstract = {Purpose



This study aims to explore whether the presence of a CSR committee is effective in mitigating the bank tail risk. Next, how corporate governance attributes contribute to this association.

Design/methodology/approach



Using data from the US banking sector, the final sample consists of 583 bank-years from 130 banks. The authors start with a bank-year fixed effect regression analysis. Further, they used bank-level cluster effect, Fama-MacBeth regression and Weighted least squares regression for robustness. For endogeneity, they also apply two-stage least squares and generalized method of moments.

Findings



The regression estimation documents that the existence of a CSR committee effectively reduces the tail risk in the banking sector. The main findings are robust with different regression settings and alternate proxies of tail risk. Further, the authors also confirm the existence of this relationship with different levels of corporate governance (CEO duality, board independence, board size and gender diversity) and corporate social responsibility.

Social implications



Enhancing comprehension of the CSR committee's influence on banking tail risk is pivotal for banks in refining their sustainability strategies, a matter of significant societal importance. This research contributes to advancing the UN SDGs, particularly Goal 17, which emphasizes fostering partnerships to achieve common objectives.

Originality/value



Prior research has intensively focused on whether CSR policies are associated with bank risk-taking. In addition, it has mostly formulated the causality from ESG performance to bank risk; hence, the literature lacks heterogeneity in this respect. The investigation validates that the presence of a CSR committee in the financial sector effectively enhances the bank's ESG performance and mitigates its risk.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{thomassin_3996,

title = {A quantum model for constrained Markowitz modern portfolio using slack variables to process mixed-binary optimization under QAOA},

author = {Pablo Thomassin and Guillaume Guérard and Sonia Djebali and Vincent Marc Lambert},

url = {https://doi.org/10.1007/s42484-025-00330-z},

year  = {2025},

date = {2025-11-01},

journal = {QUANTUM MACHINE INTELLIGENCE},

volume = {7},

number = {2},

abstract = {Effectively encoding inequality constraints is a primary obstacle in applying quantum algorithms to financial optimization. A quantum model for Markowitz portfolio optimization is presented that resolves this by embedding slack variables directly into the problem Hamiltonian. The method maps each slack variable to a dedicated ancilla qubit, transforming the problem into a Quadratic Unconstrained Binary Optimization (QUBO) formulation suitable for the Quantum Approximate Optimization Algorithm (QAOA). This process internalizes the constraints within the quantum state, altering the problem's energy landscape to facilitate optimization. The model is empirically validated through simulation, showing it consistently finds the optimal portfolio where a standard penalty-based QAOA fails. This work demonstrates that modifying the Hamiltonian architecture via a slack-ancilla scheme provides a robust and effective pathway for solving constrained optimization problems on quantum computers. A fundamental quantum limit on the simultaneous precision of portfolio risk and return is also posited.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{naseer_4001,

title = {The ESG Emissions Paradox: Capability?Contingent Effects of Research and Development and Cost Leadership in Asia},

author = {Mirza Muhammad Naseer and Nazim HUSSAIN and Sana Akbar Khan and Guiseppe Nicolò},

url = {https://doi.org/10.1002/bse.70362},

year  = {2025},

date = {2025-11-01},

journal = {Business Strategy And The Environment},

abstract = {This study investigates the impact of greenhouse gas (GHG) emissions, research and development (R&D) spending, and cost leadership strategies (CLSs) on the environmental, social, and governance (ESG) performance of Asian firms from 2015 to 2023. Multiple econometric methods, including ordinary least squares (OLS), fixed effects, the generalized method of moments (GMM), and quantile regression, are employed to test the hypotheses. The study's findings indicate a positive association between GHG emissions intensity and ESG performance, suggesting that higher emitting firms tend to bolster their ESG ratings chiefly through enhanced transparency and governance practices rather than through emissions reductions. R&D intensity and CLS also demonstrate positive associations with ESG performance, with powerful effects among firms with initially lower capabilities. Quantile regression results indicate that these relationships vary across performance levels; top-performing firms achieve a deeper level of sustainability integration, whereas lower performing firms rely more heavily on disclosure strategies. These results contribute to a deeper understanding of corporate sustainability in emerging markets and offer practical implications for policymakers, investors, and managers.},

keywords = {},

pubstate = {online},

tppubtype = {article}

}

@article{guerard_2939,

title = {Tourism profile measure for data?driven tourism segmentation},

author = {Guillaume Guérard and Quentin Gabot and Sonia Djebali},

url = {https://doi.org/10.1007/s13042-024-02145-z},

year  = {2025},

date = {2025-10-01},

journal = {International Journal Of Machine Learning And Cybernetics},

volume = {16},

pages = {7107-7132},

abstract = {The digital revolution has brought about profound changes in research within the tourism segmentation field. The ease of grasping tourists' behaviors is facilitated by the digital traces left on social networks. Existing studies focusing on tourists' digital traces typically apply clustering algorithms to the tourism context. This paper introduces a novel measure, named tourism profile measure for determining tourism segmentation, also known as tourism profiling. The approach involves establishing a new clustering algorithm that centers on stays conducted by tourists, utilizing both the context and content of the trips. The proposed measure is then simulated and experimentally evaluated using a real dataset across various periods and diverse nationalities, particularly in the context of the French capital, Paris.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{bitar_3265,

title = {Women's political empowerment, economic development, and democracy around COVID-19: a cross-country analysis},

author = {Mohammad Bitar and Jonathan Peillex and Imane El Ouadghiri and Hassan Obeid},

url = {https://doi.org/10.1080/00036846.2024.2394698},

year  = {2025},

date = {2025-10-01},

journal = {Applied Economics},

volume = {57},

number = {48},

pages = {7961-7979},

abstract = {We study the effect of Women's Political Empowerment (WPE) on COVID-19 contagion using a sample of 48 countries during the pandemic. We find that the number of COVID-19 cases is lower in countries with better WPE. Channels' analyses show that the effect of WPE on COVID-19 contagion is more pronounced in democratic countries and in countries with better economic development. The findings underscore the importance of diverse and gender-inclusive leadership in crisis management. As for policy implications, we show that fostering women empowerment in politics not only advances gender equality but also contributes to a more resilient economy through effective health crisis preparedness and well-crafted response strategies.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{gull_3296,

title = {Do Co-Opted Boards Lead to Managerial Obfuscation?  Evidence From the 10-K Report Readability},

author = {Ammar Ali Gull and Asad Ali Rind and Muhamamd Tahir Suleman},

url = {https://doi.org/10.1002/ijfe.3114},

year  = {2025},

date = {2025-10-01},

journal = {International Journal Of Finance & Economics},

volume = {30},

number = {4},

pages = {4151-4181},

abstract = {This paper examines the relationship between board co-option and managerial obfuscation captured through linguistic complexity of 10-K reports. Using 7912 US firm-year observations from 2003 to 2018, we find that firms with a higher proportion of 

co-opted directors obfuscate the readability of the 10-K reports. The findings are robust across various variable definitions, sample specifications and remain significant after addressing endogeneity concerns through multiple approaches, including leadlag regression, entropy balancing, instrumental variable analysis, the system GMM, and difference-in-difference estimations. 

Further analysis reveals that our main finding is driven by firms with weak internal (i.e., those with high CEO power and low 

board meeting attendance) and external (i.e., those with low institutional ownership and less analyst following) monitoring. The 

paper provides useful policy insights and implications for investors, regulators, and policymakers},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{ahmad_3775,

title = {Humblebragging and post purchase dissonance: A multi-study approach},

author = {Rehan AHMAD and Muhammad Ishtiaq ISHAQ and Ali RAZA and Qurat-ul-ain Talpur and Junaid Aftab},

url = {https://www.sciencedirect.com/science/article/pii/S0278431925002440},

year  = {2025},

date = {2025-10-01},

journal = {International Journal Of Hospitality Management},

volume = {131},

pages = {104321},

abstract = {Individuals use social media platforms to gratify their self-presentation needs. However, due to the challenges

associated with overt bragging, people may resort to humblebragging (i.e., boasting disguised as a complaint).

The effectiveness of humblebragging is a subject of debate in literature. Therefore, this study uses multi-study

approach (survey and experimental study design) aimed to identify: (i) the conditions under which humblebragging can generate positive outcomes in a tourism context, (ii) whether humblebragging can be used as an

effective strategy to mitigate post-purchase dissonance, and (iii) the role of opinion leaders in tourism. The

findings revealed that opinion leadership plays a robust moderating role, such that humblebragging can generate

positive outcomes and can be an effective strategy to mitigate post-purchase dissonance, but only among individuals with high levels of opinion leadership.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{rezaee_vessal_3779,

title = {Embracing pain in pursuit of growth: a qualitative study of chronically ill patients' mountain climbing experiences},

author = {Saeedeh Rezaee Vessal and Judith Partouche-Sebban and Alain Toledano and Fabien Bernhard and Francesco Schiavone},

url = {https://www.sciencedirect.com/science/article/pii/S014829632500311X},

year  = {2025},

date = {2025-10-01},

journal = {Journal Of Business Research},

volume = {199},

pages = {115488},

abstract = {Recently, experiences that incorporate elements of pain and discomfort alongside pleasure-seeking have received

considerable attention in terms of practice and research. This qualitative study delves into this phenomenon by

examining the consumption journey of a unique consumer group?chronically ill patients?who intentionally

choose mountain climbing as a means of Post Traumatic Growth. Through in-depth interviews and participant

observations conducted in France, we explore the multifaceted journey of cancer patients as they navigate pain

while engaging in mountain climbing. Our findings shed light on the transformative power of embracing pain

within consumption experiences and contribute to the evolving discourse on pain marketing. Three stages of this

consumption journey are explored: 1) the pre-encounter stage and the motivations to embark on this experience,

reinforced by therapeutic guidance, surrounding support, and personal preparation; 2) the encounter stage and

the interplay between physical and psychological conditions in which cognitive, emotional and social resources

are at stake; and 3) the post-encounter stage with the lasting impact and consequences of this transformative

experience of self-reflection on both individuals and service providers. It clarifies the transformative potential

inherent in embracing pain, guiding patients towards personal growth, and empowerment, and the cultivation of

meaningful connections with brands aligned with their values.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{aftab_3837,

title = {Intermediating mechanisms and market conditions in big data knowledge management for enhanced market performance},

author = {Junaid Aftab and Feng Wei and Mohit Srivastava and Nabila Abid and Muhammad Ishtiaq ISHAQ},

url = {http://dx.doi.org/10.1016/j.techfore.2025.124266},

year  = {2025},

date = {2025-10-01},

journal = {Technological Forecasting And Social Change},

volume = {219},

pages = {124266},

abstract = {Big data has become a new reality, enabling organizations to gain novel insights and adjust strategies concerning competitors and consumer preferences. However, the hospitality industry still struggles to effectively leverage big data knowledge management to enhance performance and achieve a competitive advantage. Therefore, this study examines the impact of big data knowledge management on market performance, drawing on the knowledge-based view as its theoretical foundation. Additionally, it investigates the mediating roles of big data analytical capability and sustainable marketing in the relationship between big data knowledge management and performance while considering market turbulence as a boundary condition. Using a survey-based research design, data were collected in two waves from 323 managerial-level employees in the Pakistani hospitality industry and analyzed using structural equation modeling. The findings confirm the mediating roles of big data analytical capability and sustainable marketing while revealing that market turbulence weakens the positive association between sustainable marketing and performance. From a theoretical perspective, this study provides empirical support for the proposed hypotheses, offering insights into how big data knowledge management and analytical capability contribute to sustainable marketing and performance in emerging markets. From a managerial standpoint, the findings provide practical guidance for top management on effectively utilizing big data to maximize returns in the hospitality industry.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{taleb_3917,

title = {A flexible decision method for holonic smart grids},

author = {Ihab Taleb and Guillaume Guérard and Frédéric Fauberteau and Nga Nguyen and Pascal Clain},

url = {https://doi.org/10.32604/cmes.2025.070517},

year  = {2025},

date = {2025-10-01},

journal = {Cmes-Computer Modeling In Engineering & Sciences},

volume = {145},

number = {1},

pages = {597-619},

abstract = {Isolated power systems, such as those on islands, face acute challenges in balancing energy demand with limited generation resources, making them particularly vulnerable to disruptions. This paper addresses these challenges by proposing a novel control and simulation framework based on a holonic multi-agent architecture, specifically developed as a digital twin for the Mayotte island grid. The primary contribution is a multi-objective optimization model, driven by a genetic algorithm, designed to enhance grid resilience through intelligent, decentralized decision-making. The efficacy of this architecture is validated through three distinct simulation scenarios: (1) a baseline scenario establishing nominal grid operation; (2) a critical disruption involving the failure of a major power plant; and (3) a localized fault resulting in the complete disconnection of a regional sub-grid. The major results demonstrate the system's dual resilience mechanisms. In the plant failure scenario, the top-level holon successfully managed a global energy deficit by optimally reallocating shared resources, prioritizing grid stability over complete demand satisfaction. In the disconnection scenario, the affected holon demonstrated true autonomy, transitioning seamlessly into a self-sufficient islanded microgrid to prevent a cascading failure. Collectively, these findings validate the holonic model as a robust decision-support tool capable of managing both systemic and localized faults, thereby significantly enhancing the operational resilience and stability of isolated smart grids.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{ben_guedria_4049,

title = {Individual and organizational antecedents of absorptive capacity: a multilevel mediation model},

author = {Nour Ben Guedria and Lassaad Lakhal and Faten Lakhal},

url = {https://doi.org/10.1108/MD-05-2024-1046},

year  = {2025},

date = {2025-10-01},

journal = {Management Decision},

pages = {1-28},

abstract = {Purpose



This paper aimed to investigate the impact of individual and organizational antecedents and their interactions on a firm's absorptive capacity (ACAP) based on Coleman's (1990) framework.

Design/methodology/approach



We used multilevel structural equation modeling based on 135 top managers and 307 core knowledge employees from 135 Tunisian companies in the chemical and electrical, electronic and appliance sectors.

Findings



The results show that flexibility-oriented human resource management (HRM) systems are positively associated with ACAP at the organizational level, suggesting that there is a micro-level process underlying this relationship. The results also show that flexibility-oriented HRM systems positively impact extrinsic motivation, which, in turn, fosters creative behavior, further boosting ACAP. Finally, extrinsic motivation and creative behavior mediate the relationship between flexibility-oriented HRM systems and ACAP.

Originality/value



This study provides new insights into the relationship between flexibility-oriented HRM systems and ACAP, highlighting the essential microfoundations that underlie organizational ACAP, i.e. creative behavior and extrinsic motivation. It is one of the first empirical investigations to validate Coleman's (1990) multilevel framework for understanding organizational ACAP.},

keywords = {},

pubstate = {online},

tppubtype = {article}

}

@article{lakhal_4050,

title = {Beyond the Bin: The Effect of Waste Reduction on Real Earnings Management},

author = {Faten Lakhal and Assil Guizani and Khaled Ghozzi and Khaled Hussainey},

url = {https://doi.org/10.1002/ijfe.70083},

year  = {2025},

date = {2025-10-01},

journal = {International Journal Of Finance & Economics},

volume = {0},

pages = {1-21},

abstract = {We investigate the effect of waste management strategies on real earnings management. Using a sample of 6515 firm-year observations from 22 countries spanning the 2011-2022 period, we show that companies that reduce their waste generation are less likely to engage in real earnings management, supporting the ethical theoretical perspective. However, waste-recycling activities positively influence real earnings management due to the high costs of recycling processes. Additionally, we show that the negative effect of waste reduction on real earnings management is only prevalent in companies with low agency costs, those with high corporate governance quality, and those operating in non-competitive markets. These findings highlight the broader implications of corporate waste management for financial reporting quality. By focusing solely on real earnings management, this study opens new avenues via which future research can explore other dimensions of financial reporting quality and examine evolving regulatory frameworks.},

keywords = {},

pubstate = {online},

tppubtype = {article}

}

@article{ahmed_3281,

title = {Brand transgression in corporate social responsibility era: empirical evidence from hospitality industry},

author = {Anzar AHMED and Ali RAZA and Qurat-ul-ain Talpur and Muhammad Ishtiaq ISHAQ and Tehmeena SHAFQAT},

url = {https://www.tandfonline.com/doi/full/10.1080/02642069.2024.2361469},

year  = {2025},

date = {2025-09-01},

journal = {The Service Industries Journal},

volume = {45},

number = {9-10},

pages = {874-898},

abstract = {Consumers rely on prior information and interactions with the brands to develop their expectations through the firm's corporate social responsibility (CSR) initiatives, but some adverse incidents violate the customer-brand relationship. In such circumstances, it is inevitable for the brands to understand how consumers react and how they can be managed strategically. Therefore, this research aims to determine the impact of brand transgression on brand retaliation and the mediating role of negative emotions between brand transgression and brand retaliation. Using attribution theory, this study determines the extent to which the relationship between brand transgression and negative emotions is moderated by brand love and the association between negative emotion and brand retaliation is moderated by positive word-of-mouth (WOM). The data was collected using a survey questionnaire from 357 consumers and analyzed using process macros analysis techniques. The findings show a positive linkage between brand transgression and brand retaliation among consumers in the hospitality industry. Lastly, this study confirmed that brand love weakens the positive relationship between brand transgression and negative emotions, and positive WOM weakens the positive relationship between negative emotions and brand retaliation.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{ahmad_3291,

title = {Exploring the impact of social media content on travel envy and intention to visit destination: moderating role of narcissist admiration and rivalry},

author = {Rehan AHMAD and Muhammad Ishtiaq ISHAQ and Ali RAZA and Qurat-ul-ain Talpur and Ghulam Murtaza},

url = {https://www.tandfonline.com/doi/full/10.1080/02642069.2024.2374357},

year  = {2025},

date = {2025-09-01},

journal = {The Service Industries Journal},

volume = {45},

number = {11-12},

pages = {992-1017},

abstract = {Social networking sites significantly influence the behavioral intentions of travelers. Considering this as an avenue of future research, the current study explores how social media elements induce travel envy using multi-study approaches. Study 1 (N?=?338) is an experimental study aimed at investigating the impact of post type (emotional vs. rational) and post content (luxury vs. non-luxury) on travel envy and intention to visit a destination (IVTD). Study 2 (N?=?190) is a survey-based study that explores the moderating role of narcissism between travel envy and IVTD by considering both post content and type. Study 3 (N?=?289) tests the composite model using survey-based and experimental-based research designs. The findings reveal the robust impact of post type and content in triggering travel envy and intentions amongst recipients of particular social media posts. The emotional-luxury post category has a relatively stronger influence on travel envy and travel intentions than the rational-non-luxury post type. Narcissism is found to play a moderating role in the relationship between travel envy and IVTD.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{nizar_3432,

title = {Does the Corporate Lifecycle Affect Board Structure? International Evidence},

author = {Hamza Nizar and Ali Uyar and Faten Lakhal and Abdullah Karaman},

url = {https://onlinelibrary.wiley.com/doi/abs/10.1111/corg.12645},

year  = {2025},

date = {2025-09-01},

journal = {Corporate Governance-An International Review},

volume = {33},

number = {5},

pages = {1223-1250},

abstract = {Research Question/Issue: This paper examines the impact of corporate lifecycle on board structure offering insights into how

firms evolve and adapt their governance practices over time and across different institutional environments.

Research Findings/Insights: Based on a sample of 23,530 firm-year observations from 51 countries over the period 2013-2021,

we find that corporate lifecycle has a positive effect on board gender diversity and board tenure. This positive effect is more pro-

nounced in firms operating in countries with stronger investor protection and in firms facing higher external market discipline.

However, the corporate lifecycle has a negative effect on the proportion of board members with financial or industry expertise.

This negative relationship turns positive when investor protection strengthens, and market pressure intensifies. The results also

show that gender quota adoption positively influences the association between corporate lifecycle and board gender diversity.

Theoretical/Academic Implications: The findings support lifecycle and legitimacy theory perspectives suggesting that or-

ganizations face different challenges and legitimacy pressures at various phases of their lifecycle. To overcome those challenges,

companies are likely to adjust their internal governance structures accordingly. The results also provide support for regulations

on gender quotas in the boardroom.

Practitioner/Policy Implications: Our results suggest that in the early stages, a company considers appointing financial or

industry skilled directors who offer essential knowledge for corporate growth and success. As the company matures, the focus

shifts toward bolstering corporate legitimacy and gaining social acceptance. This transition indicates a shift toward holistic

governance, where the company prioritizes the representation of stakeholders' interests, both in substantive and symbolic ways.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{ul_haq_3813,

title = {Unpacking the link between servant leadership and followers' helping behavior: The mediating role of followers' servant attitude and the moderating effect of relational identity},

author = {Inam Ul Haq and umair tanveer and Muhammad Umer Azeem},

url = {https://www.sciencedirect.com/science/article/pii/S0278431925001860?via%3Dihub},

year  = {2025},

date = {2025-09-01},

journal = {International Journal Of Hospitality Management},

volume = {130},

pages = {104263},

abstract = {Given the importance of service orientation in the hospitality sector, this study investigates the process through which servant leaders develop follower's servant attitude and helping behavior. In particular, we argue that followers observe and emulate their servant leaders' service-oriented approach, leading them to internalize this attitude and engage in helping behaviors toward their colleagues. Furthermore, this process is stronger among followers who develop a strong relational identity with their leader. In such cases, the followers' relational need for close association with the leader compels them to adopt a service attitude. To test these predictions, we draw from time-lagged, multi-source field survey data collected from 222 leader-follower dyads across several hospitality sector organizations in Pakistan. The results support our predictions: servant leadership positively predicts followers' servant attitude, which in turn steers them to engage in helping behaviors. Additionally, followers' relational identity invigorates the positive effects of servant leadership on followers' servant attitudes. These findings provide important insights for organizations and leaders in cultivating a service climate and eliciting helpful behavior at work.},

note = {Given the importance of service orientation in the hospitality sector, this study investigates the process through which servant leaders develop follower's servant attitude and helping behavior. In particular, we argue that followers observe and emulate their servant leaders' service-oriented approach, leading them to internalize this attitude and engage in helping behaviors toward their colleagues. Furthermore, this process is stronger among followers who develop a strong relational identity with their leader. In such cases, the followers' relational need for close association with the leader compels them to adopt a service attitude. To test these predictions, we draw from time-lagged, multi-source field survey data collected from 222 leader-follower dyads across several hospitality sector organizations in Pakistan. The results support our predictions: servant leadership positively predicts followers' servant attitude, which in turn steers them to engage in helping behaviors. Additionally, followers' relational identity invigorates the positive effects of servant leadership on followers' servant attitudes. These findings provide important insights for organizations and leaders in cultivating a service climate and eliciting helpful behavior at work.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{clain_3842,

title = {Flow behaviour of Pickering Hexadecane emulsion stabilized with CNC and AOT for sustainable refrigeration},

author = {Pascal Clain and Somia Haouache and Isabelle Capron and Anthony Delahaye and Laurence Fournaison},

url = {https://www.sciencedirect.com/science/article/pii/S2590123025025630},

year  = {2025},

date = {2025-09-01},

journal = {Results in engineering},

volume = {27},

pages = {106494},

abstract = {The rheological behaviour under flow conditions of hexadecane-in-water emulsions stabilized by cellulosic nanoparticles was studied with a capillary viscometer. The study investigated several volume fractions of hexadecane between 0 and 15 vol%. and the temperature was varied in situ to investigate the liquid and solid states of hexadecane droplets (below and above 18 °C respectively). Various concentrations of 0 to 1 vol% of anionic bis (2-ethylhexyl) sulfosuccinate sodium (AOT) were used as anti-agglomerant agent and to ensure the continuous flow. Based on the capillary viscometer method associated with Rabinowitsch and Mooney's equation, the apparent viscosity of these emulsions (hexadecane in liquid state), dispersions (hexadecane in solid state) was determined by measuring the pressure drops of the flowing fluid as a function of the flow rate. We observed that the viscosity of those systems increased with the volume fraction of hexadecane, both in liquid and solid state. We also observed that the viscosity can be decreased by cycling the emulsions in the loop. This decrease of viscosity was accompanied by a decrease of the mean droplets size measured by granulometry analysis. We showed in this work the important role of AOT to avoid emulsion agglomeration during the cooling in the loop.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{aweyaw_3863,

title = {Two decades of foreign direct investment in Africa: a systematic literature review, integrative framework, and agenda for future research},

author = {Abdul-Kadir Aweyaw and Andrei Panibratov},

url = {https://dx.doi.org/10.1504/EJIM.2025.147963},

year  = {2025},

date = {2025-09-01},

journal = {European Journal Of International Management},

volume = {27},

number = {1},

pages = {1 - 47},

abstract = {Despite the increase in research efforts on Foreign Direct Investment (FDI) in International Business (IB), the literature on FDI in Africa suffers from disintegration, theoretical boundaries and empirical vagueness, leaving important countenances uninvestigated. The purpose of this article is to reveal how much work has been done, what knowledge has been obtained, and what directions need to be taken for future FDI in Africa research. We conduct a systematic literature review of pertinent theoretical and empirical studies encompassing 105 articles from reputable management and economics journals on FDI in Africa. Our study contributes to this body of scholarship by identifying and discussing prior research, agglomerating them into themes, providing a structured debate about what is already known, as well as offering an explanation of why and how Africa is a distinctive context different from other emerging markets. We further develop an integrative framework that provides extensive knowledge of contemporary and promising avenues for future research.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{guizani_3880,

title = {An Empirical Analysis of Waste Management Practices in French Family Firms},

author = {Assil Guizani and Emna Brahem and Faten Lakhal and Khaled Hussainey},

url = {https://doi.org/10.1108/JAL-03-2025-0140},

year  = {2025},

date = {2025-09-01},

journal = {Journal of Accounting Literature},

pages = {1-27},

abstract = {Purpose: This study examines the behavior of family firms in relation to corporate waste management practices. The study also explores the implementation of the Sustainable Development Goals (SDGs) in 2015 as an exogenous shock that may influence waste management in family firms.

Design/methodology/approach: This study uses ordinary least squares (OLS), propensity score matching (PSM), and two-stage least squares (2SLS) estimators on a longitudinal panel dataset of French firms observed between 2004 and 2020 to test the association between family firms and waste management. Additionally, difference-in-differences (DiD) estimation is employed to assess the influence of the implementation of the SDGs in 2015 on waste management practices in these firms.

Findings: The findings demonstrate that family firms are more engaged in reducing waste generation and improving waste recycling. This result suggests that these firms prioritize sustainable initiatives that aim to preserve social legitimacy and family reputation. Further analyses show that waste generation (waste recycling) decreases (increases) with the voting rights held by the family, for families in the first-generation stage, and if a family member holds the position of the CEO or the chairperson of the board of directors. Additionally, the effect of family firms on waste production and waste recycling is more accentuated after the implementation of the SDGs, and in ecologically innovative firms.

Practical implications: Our results provide valuable insights for family firms to maintain their environmental commitment, especially during generational transitions or when appointing non-family members in leadership positions. In addition, policymakers should consider expanding the implementation of regulations and incentives that encourage family firms to adopt sustainable waste management practices.

Originality/value: This study is the first to test the nexus between family firms and waste management practices, by focusing on family firms' dimensions, such as control, generational stage, and family involvement in management and the board.},

keywords = {},

pubstate = {online},

tppubtype = {article}

}

@article{riaz_3892,

title = {Pathway to Entrepreneurial Success Through Green Entrepreneurial Orientation and Environmental Dynamism},

author = {Saba RIAZ and Wang YANQING and Muhammad Ishtiaq ISHAQ and Ali RAZA and Qurat-ul-ain Talpur},

url = {https://onlinelibrary.wiley.com/doi/epdf/10.1002/bse.70173},

year  = {2025},

date = {2025-09-01},

journal = {Business Strategy And The Environment},

abstract = {Environmental dynamism produces swift changes that undermine entrepreneurs' ability to create long-term plans, as SMEs in Pakistan encounter various difficulties in this interaction, requiring innovative approaches for sustainable development. This study analyzes entrepreneurial success in social network relations, evaluating green entrepreneurial orientation and environmental dynamism as mediators alongside entrepreneurial competencies as a moderator. A total of 358 senior managers participated in this research, selected through simple random sampling methods and analyzed using SmartPLS 4.0. The outcomes of this study demonstrate how SMEs can sustainably grow their businesses through social networks, which enhance their fundamental business approaches and operational success levels. Results indicate that green entrepreneurial orientation and environmental dynamism are associated with a positive indirect relationship in achieving entrepreneurial success. The influence of social networks on entrepreneurial success receives additional strengthening power from the moderation factor of entrepreneurial competencies. The research findings provide decision-making support for sustainable practices and SME development initiatives, benefiting both entrepreneurs and government authorities.},

keywords = {},

pubstate = {online},

tppubtype = {article}

}

@article{saharti_3894,

title = {ESG Performance of Firms and the Structure of Loan Syndicates: Moderating Role of Relationship},

author = {Mohammed SAHARTI and Asif SAEED and Sajid M. CHAUDHRY and Rizwan Ahmed},

url = {https://doi.org/10.1111/eufm.70019},

year  = {2025},

date = {2025-09-01},

journal = {European Financial Management},

abstract = {This study examines the impact of firms' environmental, social and governance (ESG) performance on borrower-lender relationships within syndicated loans. Analyzing a global panel of contracts, we examine the impact of ESG scores on the number of lenders and the ownership of lead arrangers. Utilizing theories of information asymmetry, agency, relational lending, and resource dependence, our findings indicate that high ESG performance decreases lead bank retention, thus broadening syndicates and distributing risk. However, prior borrower-led relationships can reverse this effect, emphasizing that ESG and relational trust act as complementary governance channels, shaping modern global credit markets and capital allocation across sectors.},

keywords = {},

pubstate = {online},

tppubtype = {article}

}

@article{levy_3895,

title = {PretopoMD: pretopology-based mixed data hierarchical clustering},

author = {Loup-Noé Levy and Guillaume Guérard and Sonia Djebali and Soufian Ben Amor},

url = {https://doi.org/10.1007/s10489-025-06770-1},

year  = {2025},

date = {2025-09-01},

journal = {Applied Intelligence},

volume = {55},

pages = {973},

abstract = {This article presents a novel pretopology-based algorithm designed to address the challenges of clustering mixed data without the need for dimensionality reduction. Leveraging Disjunctive Normal Form, our approach formulates customizable logical rules and adjustable hyperparameters that allow for user-defined hierarchical cluster construction and facilitate tailored solutions for heterogeneous datasets. Through hierarchical dendrogram analysis and comparative clustering metrics, our method demonstrates superior performance by accurately and interpretably delineating clusters directly from raw data, thus preserving data integrity. Empirical findings highlight the algorithm's robustness in constructing meaningful clusters and reveal its potential in overcoming issues related to clustered data explainability. The novelty of this work lies in its departure from traditional dimensionality reduction techniques and its innovative use of logical rules that enhance both cluster formation and clarity, thereby contributing a significant advancement to the discourse on clustering mixed data.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{latukha_3904,

title = {Awkward Positioning of International Student: Concept Clarification for Developing International Student Talent},

author = {Marina Latukha and Yunxin Luo and Andrei Panibratov},

url = {https://doi.org/10.1177/15344843251382834},

year  = {2025},

date = {2025-09-01},

journal = {Human Resource Development Review},

volume = {0},

number = {0},

pages = {28},

abstract = {This paper unpacks the dominant concepts of international students, a demographic of increasing significance within the global talent pool. This study explore how past research identifies international students to reveal the contradictory nature of ter- minology that could serve as a barrier for talent identification and development within organizational settings. We propose the definition and introduce five criteria for discussing who international students are from the talent development lens. We also suggest avenues for future research. Clarifying the concept of international students is crucial for identifying and understanding their nature and characteristics, which in turn facilitates their development into valuable talent.},

keywords = {},

pubstate = {online},

tppubtype = {article}

}

@article{guizani_3907,

title = {How Does Product Market Competition Influence Firm-Level Climate Change Exposure},

author = {Assil Guizani and Emna Brahem and Faten Lakhal},

url = {https://doi.org/10.1111/fire.70028},

year  = {2025},

date = {2025-09-01},

journal = {Financial Review},

volume = {0},

number = {0},

pages = {1-19},

abstract = {his study examines the impact of product market competition on firm-level exposure to climate change. Using a sample of 1441 US firms from 2001 to 2021, the findings indicate that climate change exposure increases with market competition. This suggests that competitive pressure drives firms to focus on core operations and cost-cutting measures to maximize shareholder value. Further analysis reveals that firms operating in competitive markets are less exposed to climate change risks when they possess substantial market share, exhibit high diversification, and face fewer financial constraints. The results also suggest that the positive relationship between competition and climate change exposure is more pronounced following the 2015 Paris Agreement, though this effect is weaker among firms with a CSR committee on the board. These findings offer important insights for market participants, highlighting the need to balance short-term competitive strategies with long-term sustainability under competitive pressure.},

keywords = {},

pubstate = {online},

tppubtype = {article}

}

@article{jedda_3908,

title = {How does managerial ability curb the cost of debt financing? The moderating role of information and business risks},

author = {Nour Jedda and Houssam Bouzgarrou and Faten Lakhal},

url = {https://philpapers.org/rec/LAKHDM},

year  = {2025},

date = {2025-09-01},

journal = {International Journal of Business Governance and Ethics},

abstract = {Prior evidence shows that higher managerial ability improves a

firm's information environment, but it remains unclear whether this also

influences creditors' perceptions of firms led by able managers. The purpose of

this paper is to investigate the effect of managerial ability on the cost of debt.

We also shed light on the moderating role of information and business risks.

Using a sample of 244 French listed firms over the period 2010-2020, we find

that managerial ability is negatively associated with the cost of debt. In

particular, able managers are likely to reduce the cost of debt through their

ability to effectively manage the firm, increase firm credibility and reduce

information asymmetry. The results also reveal that the negative effect of

managerial ability on the cost of debt is less pronounced in the presence of high

information and business risks. These findings suggest that risk components

play a vital role in lending decisions. Further evidence shows that the negative

effect of managerial ability on the cost of debt is more prevalent in firms with

better governance and audit quality but less prevalent in family-owned firms.},

keywords = {},

pubstate = {online},

tppubtype = {article}

}

@article{panibratov_3940,

title = {Driving Bargaining Power Through Landlocked to Land? Linked Economy: The Case of Kazakhstan and Belt and Road Initiative},

author = {Andrei Panibratov and Alexey Kalinin and Liana Rysakova and Anastasia Lazariva},

url = {https://doi.org/10.1111/grow.70039},

year  = {2025},

date = {2025-09-01},

journal = {Growth And Change},

volume = {56},

number = {3},

pages = {e70039},

abstract = {Regional economic disparities and unbalanced economic growth have led to a lack of essential capabilities and cohesion among individual economies. The Belt and Road Initiative (BRI) serves as a driver for host countries' leadership to align their national development programs with the Chinese initiative. This paper applies the China-Kazakhstan context, which is particularly interesting to explore due to Kazakhstan's central position as the main hub of the BRI economic corridors. Building on the theoretical perspectives of legitimacy and bargaining power, the research shows how geopolitics influence the bargaining power of China and the host country at the country, firm, and SEZ levels, creating spillover effects for third countries involved. The BRI has become an important enabler for government and institutional initiatives, such as the supranational cross-border development of Special Economic Zones (SEZs), inter-organizational cooperative projects, and others, improving Kazakhstan's relative position in the region, attracting foreign direct investment (FDI), and transforming the country into a strong regional player. Based on a cross-level analysis of the BRI and Kazakhstan's economic growth, the research develops a conceptual framework supported by a set of propositions. The study proposes that Chinese investments have had a considerable impact on Kazakhstan's development, even though there are some challenges, particularly those linked to the negative public perception of the BRI.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{platania_3789,

title = {Bridging AI innovation and sustainable Development: The effect of AI technological progress on SDG investment performance},

author = {Federico Platania and Celina Toscano Hernandez and Imane El Ouadghiri and Jonathan Peillex},

url = {https://www.sciencedirect.com/science/article/abs/pii/S0166497225001117?via%3Dihub},

year  = {2025},

date = {2025-08-01},

journal = {Technovation},

volume = {146},

pages = {103279},

abstract = {In the age of AI-driven innovation, Artificial Intelligence (AI) has become a transformative force in financial markets, reshaping investment strategies and sustainability-driven asset allocation. This study examines the impact of AI-driven innovation on the financial performance of sustainability-focused investments by analyzing the relationship between AI patent activity and the market returns of exchange-traded funds (ETFs) aligned with the United Nations Sustainable Development Goals (SDGs). Employing a state-space framework and a Kalman Filter model, we capture the dynamic influence of AI advancements on SDG-aligned ETFs, revealing that technological progress significantly enhances excess returns, particularly in the clean energy and water resource sectors. However, our analysis also uncovers sectoral variations in AI's financial impact, indicating that the benefits of AI innovation are unevenly distributed across industries. These findings bridge the gap between sustainable finance and technological innovation, demonstrating that AI serves as both a financial accelerator and a sustainability enabler. By integrating AI-driven innovation into asset pricing models, this study provides actionable insights for investors, policymakers, and corporate strategists, emphasizing the need to incorporate AI-based metrics into investment decision-making, risk assessment frameworks, and regulatory policies to foster sustainable economic growth.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{nasir_3862,

title = {A study on the dynamics of government-university-industry knowledge transfer in emerging knowledge-based economies},

author = {Nayab Nasir and Sarwar M. Azhar and Muhammad Ishtiaq ISHAQ and Iqra Shafqat},

url = {https://doi.org/10.1093/scipol/scaf038},

year  = {2025},

date = {2025-08-01},

journal = {Science And Public Policy},

pages = {scaf038},

abstract = {This article is drawn from a more extensive study on the dynamics of government-university-industry knowledge transfer in an emerging knowledge-based economy (KBE). Pragmatism was used as the fundamental philosophical tenet for this research, as the grounded theory approach was applied to identify the barriers and challenges that hinder the progress of universities consequently offering pragmatic solutions. Participants were selected using theoretical sampling technique who responded to questions addressing the performance of key entities in the triple helix framework of Pakistan. The dominant themes that emerged after data saturation included (1) perception of a KBE, (2) building knowledge-transfer channels, (3) efficiency of knowledge-transfer activities, and (4) knowledge co-creation spaces. These domains aided in developing a model for building sustainable knowledge co-creation spaces, with implications for policymakers to facilitate higher education institutions in improving their performance in the triple helix framework of developing countries.},

keywords = {},

pubstate = {online},

tppubtype = {article}

}

@article{gull_2828,

title = {Stock price crash and information environment: Do CEO  gender and fnancial expertise matter?},

author = {Ammar Ali Gull and Ammar Abid and Duc Khuong Nguyen and Muhammad Usman and Rizwan Mushtaq},

url = {https://link.springer.com/article/10.1007/s11156-024-01244-w#:~:text=These%20findings%20highlight%20that%20the,expert%20CEOs%20reduce%20information%20asymmetry.},

year  = {2025},

date = {2025-07-01},

journal = {Review of Quantitative Finance and Accounting},

volume = {65},

pages = {219-255},

abstract = {This study examines the efect of stock price crash on the information environment. We 

further investigate the efect of female and fnancial expert CEOs on the stock price crash 

and information environment nexus. Employing one of the largest datasets to-date of Chinese A-share listed frms (i.e., over 35,000 frm-year observations), our fndings are twofold. First, consistent with agency and information asymmetry perspective, we fnd that 

stock price crash deteriorates the quality of information environment. Second, consistent 

with resource dependence view, our fndings reveal that the presence of female and fnancial expert CEOs mitigate the stock price crash and information environment relationship. 

Our fndings are robust to diferent endogeneity tests (e.g., two-stage least squares, propensity score matching, bootstrapping, and the system generalized method of moments), alternate proxies and additional analyses. This study contributes to the literature on portfolio 

investment and risk management.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{guizani_3139,

title = {Does climate risk vulnerability affect the value of excess cash? International evidence},

author = {Assil Guizani and Hamza Nizar and Faten Lakhal and Taher Hamza and Ramzi Benkraiem},

url = {https://onlinelibrary.wiley.com/doi/10.1002/ijfe.3035},

year  = {2025},

date = {2025-07-01},

journal = {International Journal Of Finance & Economics},

volume = {30},

number = {3},

pages = {2662-2681},

abstract = {In this paper, we investigate the impact of climate risk on the value of excess

cash. Based on an international sample of 6468 firm-year observations from

2010 to 2019, the results show that climate risk vulnerability positively affects

the value of excess cash. This suggests that investors may consider firms with

excess cash to be better positioned to challenge extreme weather events by

using cash reserves to cover up expenses and maintain operations. This posi-

tive effect is more pronounced for firms operating in countries with strong

investor protection, for those with strong governance quality, and for those

with high corporate social responsibility performance. However, it is less

accentuated in the presence of financial constraints. Overall, our findings have

significant practical implications for decision-makers, investors, and

policymakers.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{guizani_3434,

title = {Heterogeneity of Family Firms and Carbon Emissions: Which Factors Matter?},

author = {Assil Guizani and Faten Lakhal and Florence Depoers and Emna Brahem},

url = {https://shs.cairn.info/revue-finance-2025-2-page-42?tab=resume},

year  = {2025},

date = {2025-07-01},

journal = {Finance},

volume = {46},

number = {2},

pages = {52 à 100},

abstract = {This study investigates whether family firms emit less carbon than their

non-family counterparts and how the heterogeneity among family firms

affects carbon emissions. Using a sample of 308 French companies listed in

the CAC-All Shares Index, spanning the period from 2002 to 2020, we found

that family firms are more likely than non-family ones to reduce their carbon

footprints. However, the carbon behavior of family firms is not homogeneous.

Family eponymy negatively influences carbon emissions. Surprisingly, the

effect of the family generational stage is positive, suggesting that family

firms in the first generations are more virtuous than those in subsequent

generations. Additional evidence shows that the presence of founder CEOs

or board chairpersons is associated with reductions in carbon emissions. We

also found that green innovation, polluting industries, and the Paris Agree-

ment and the energy transition law of 2015 strengthened carbon emission

reductions among family firms. Finally, committing to carbon emission

reduction serves as a pathway for family firms to enhance their firm value;},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{chen_3677,

title = {Dynamic capabilities of Chinese SMEs in Russia under sanctions},

author = {Shenglong Chen and Liubov Ermolaeva and Andrei Panibratov},

url = {https://link.springer.com/article/10.1057/s41291-025-00300-0},

year  = {2025},

date = {2025-07-01},

journal = {Asian Business & Management},

volume = {24},

pages = {460-495},

abstract = {This paper aims to elucidate the dynamic capabilities (DCs) deployment by small- and medium-sized enterprises (SMEs) in response to sanctions. Based on the interviews with Russia-based Chinese practitioners, we reveal how Chinese SMEs implement DCs to strategize their survival and growth in the sanctioned Russian market. This study portrays four scenarios and mechanisms of DCs emerging and reconfiguring firms' prior resources and capabilities to deal with sanction contingencies. Additionally, we suggest that Chinese culture predominately shapes Chinese SMEs' aspirations and actions in Russia. This research contributes to the strategic management and entrepreneurship literature by illuminating international business under sanctions and augmenting the theorization of DCs through explicating their nature and deployment processes and the peculiarities of SMEs in developing DCs. It simultaneously provides implications for businesses pursuing survival and expansion under adverse market conditions.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{sokolova_3814,

title = {Can Information and Entertainment Compensate for Affection? A Cross-Sectoral Analysis of Social Media Influencers},

author = {Karina Sokolova and Saeedeh Rezaee Vessal and Charles Perez},

url = {https://onlinelibrary.wiley.com/doi/10.1111/ijcs.70085},

year  = {2025},

date = {2025-07-01},

journal = {International Journal Of Consumer Studies},

volume = {49},

number = {4},

pages = {e70085},

abstract = {Drawing on persuasion theory and the affect transfer hypothesis, this study explores how affection for social media influencers 

mediates and moderates followers' content perception (entertainment and informational value) and purchase intent. Using a 

dataset of 6633 French female followers across fashion, beauty, sports, news, and personal development sectors, and analyzed 

via PLS-SEM, results show affection's dual role. Information quality enhances affection, whereas entertainment compensates 

for low affection, especially among younger followers in beauty and fashion. Information quality, entertainment, and affection 

explain purchase intent across sectors, with older users valuing information quality more and showing higher purchase intent},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{joullie_3815,

title = {Leadership and Human Resource Management: Oil and Water in the Same Vessel},

author = {Jean-Etienne Joullié and Anthony Gould and Jeffrey Muldoon},

url = {https://doi.org/10.1111/1744-7941.70027},

year  = {2025},

date = {2025-07-01},

journal = {Asia Pacific Journal Of Human Resources},

volume = {63},

number = {3},

pages = {1-14},

abstract = {The task of integrating projects pursued under the banner of human resource management (HRM) with conjecture about leadership

axiomatically requires that such integration be possible. However, the extent of compatibility between the substance of HRM and reflection on leadership has largely remained unexamined. Using examples to illustrate the points being made, this article prosecutes the case that much HRM theory as well as its practice and leadership conjecture invoke divergent ways of speaking about collectively pursued objectives and entail differing perspectives of obedience. One way to reconcile the two domains is to revisit the conceptual underpinnings of mainstream contemporary HRM scholarship and, in particular, this corpus' well-documented

emergence from Alan Fox's conception of a unitarist frame of reference. Such a reappraisal of the nature of HRM enables concerned scholars to benefit from insight provided by their peers writing about leadership and provides an opportunity for improved practice.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{platania_3857,

title = {Harnessing the Power of AI in RD&E Management: The Innovation Index},

author = {Federico Platania and Celina Toscano Hernandez and Imane El Ouadghiri and Jonathan Peillex},

url = {https://ieeexplore.ieee.org/abstract/document/11072517},

year  = {2025},

date = {2025-07-01},

journal = {Ieee Transactions On Engineering Management},

volume = {72},

pages = {3055-3064},

abstract = {This article investigates the complex relationship between artificial intelligence (AI)-related technological innovation and its impact on the market returns of leading technology companies. We introduce the ?Innovation Index,? a latent variable based on the number of AI-related patents, and incorporate it into the traditional Fama-French model to better capture the influence of AI advancements on financial performance. Using a state-space representation, our empirical analysis suggests that AI-related innovation significantly contributes to the market returns of prominent and leading technology firms. The findings highlight the strategic importance of AI investments in sustaining long-term growth and competitiveness.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{benkraiem_2959,

title = {Access to finance and corporate tax avoidance: International evidence},

author = {Ramzi Benkraiem and Safa Gaaya and Faten Lakhal and Merve Kilic},

url = {https://www.sciencedirect.com/science/article/pii/S1061951824000740},

year  = {2025},

date = {2025-06-01},

urldate = {2025-06-01},

journal = {Journal of International Accounting, Auditing and Taxation},

volume = {58},

pages = {100668},

abstract = {This paper investigates the relationship between access to finance and corporate tax avoidance. Using a sample of 63,443 firm-year observations from 37 countries, the results reveal that firms suffering from limited access to finance are more inclined to engage in tax avoidance practices. The results also show that increased levels of financial constraints are positively associated with tax avoidance for firms operating in countries with high economic and policy uncertainty and high government debt level. Further evidence shows that the difficulty to access finance increases tax avoidance in countries with weak investor protection. Our results are robust after addressing endogeneity concern and using different measures of financial constraints, tax avoidance, and countries' institutional environments.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{saharti_3293,

title = {Lending Relationships of Firms for a Just Transition},

author = {Mohammed SAHARTI and Asif SAEED and Sajid M. CHAUDHRY and Muhammad Ali NASIR},

url = {https://onlinelibrary.wiley.com/doi/10.1111/eufm.12535},

year  = {2025},

date = {2025-06-01},

journal = {European Financial Management},

volume = {31},

number = {3},

pages = {1195-1216},

abstract = {This paper examines lending dynamics for firms aiming for a ?just transition?. Analyzing 37,426 firm-year observations from DealScan and Refinitiv's environmental, social and governance (ESG) transition data (2002-2021), we find that lenders offer lower interest rates to firms with prior relationships and strong ESG commitments, particularly environmental ones. While environmental factors receive favourable treatment, economic and governance transitions are less prioritized. Lenders tend to form more dispersed syndicates when supporting firms focused on ESG transitions, especially environmental ones. This research highlights the uneven focus within ESG transitions and emphasizes the underexamined area of governance, providing insights into lending relationships.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{alharbi_3628,

title = {Board co-option and audit quality: Evidence from US},

author = {Samar S. Alharbi and Asif SAEED and Umer Iqbal and Najoua Elommal-Manita},

url = {http://dx.doi.org/10.1016/j.irfa.2025.104123},

year  = {2025},

date = {2025-06-01},

journal = {International Review Of Financial Analysis},

volume = {102},

pages = {104123},

abstract = {This study investigates the impact of board co-option on audit quality, a vital dimension of corporate governance

that has received limited attention. Using a dataset of 9605 firm-year observations from U.S. listed firms, we

examine the extent to which co-opted directors aligned with CEOs compromise audit quality, measured through

BIG4 auditor selection and audit fees. Results show that board co-option significantly reduces audit quality, a

finding robust to alternative co-option measures, propensity score matching, and IV-Probit models. Notably, the

presence of a CSR committee and stronger governance scores mitigate these negative effects - highlighting their

significant role. These findings accentuate the need for regulatory reforms to strengthen board independence and

institutionalize CSR committees, enhancing governance practices and accountability.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{courtioux_3800,

title = {The geographies of segregation in French universities from 2006 to 2016},

author = {Pierre COURTIOUX and Tristan-Pierre Maury and Johan Seux},

url = {https://link.springer.com/article/10.1007/s10734-025-01473-5},

year  = {2025},

date = {2025-06-01},

journal = {Higher Education},

abstract = {Since the French university system is non-selective, the question of segregation has long remained unaddressed. However, the recent increase in enrolment, as well as the implementation of cluster-building policies, has brought the issue of university segregation and its geography to the forefront. This article proposes the first exhaustive geographical decomposition of segregation in French universities. Using a mutual information index, we identify the different local components and layers of social segregation and measure their contribution to the national level of segregation between 2006 and 2016. Our results show that in the French university system, segregation is quite low and tended to decrease over the period. However, we also show that only about 18% of the total segregation is due to macro-scale factors: i.e., social differences across regional areas: social segregation is mainly a local phenomenon that could be reduced with reforms of higher education enrolment policy, implemented at the regional level.},

keywords = {},

pubstate = {online},

tppubtype = {article}

}

@article{shuwaikh_3801,

title = {Evaluating Innovation Output of Companies Backed by Corporate, Independent and Syndicated Venture Capital},

author = {Fatima Shuwaikh and Sabrina Khemiri and Souad Brinette and Joakim Börrén Dias},

url = {https://doi.org/10.1002/ijfe.70003},

year  = {2025},

date = {2025-06-01},

journal = {International Journal Of Finance & Economics},

volume = {0},

pages = {1-27},

abstract = {This paper examines how Corporate Venture Capital (CVC), Independent Venture Capital (IVC) and Venture Capital Syndicate (VCS) promote innovation among startups. Drawing on a dataset of 4406 venture-backed deals in North America, spanning 1998-2019, it explores how the configurations of investors and their contextual factors influence innovation output. The findings show that syndicated and CVC-backed ventures outperform IVC-backed ventures. Syndicates with a larger membership are positively associated with innovation outcomes based on resource pooling and knowledge sharing; contextual factors, such as location and technology fit, environmental munificence and absorptive capacity have a positive moderating effect on the relationship between VC type and innovation outcomes. This research adds to both academic knowledge and practical implications, offering entrepreneurs, investors and policymakers' actionable insights about how to facilitate innovation, improve venture funding and enhance innovation management to ultimately strengthen the innovation ecosystem.},

keywords = {},

pubstate = {online},

tppubtype = {article}

}