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From Risk to Reach: Gambling Culture and Corporate Strategic Expansions 从风险到收益：赌博文化与企业战略扩张
IF 2.7 3区 经济学
Managerial and Decision Economics Pub Date : 2026-08-06 Epub Date: 2026-05-19 DOI: 10.1002/mde.70113
Huy Viet Hoang
{"title":"From Risk to Reach: Gambling Culture and Corporate Strategic Expansions","authors":"Huy Viet Hoang","doi":"10.1002/mde.70113","DOIUrl":"https://doi.org/10.1002/mde.70113","url":null,"abstract":"<div>\u0000 \u0000 <p>This study investigates the effect of local gambling culture, an informal institution commonly associated with risk-seeking behavior, on US firms' scope expansion decisions during the 2004–2021 period. Contrary to prevailing evidence that gambling-prone environments foster speculative corporate behavior, I find that firms headquartered in gambling-prone states engage more actively in related scope expansions primarily for diversification rather than speculation. The diversification purpose is manifested via lower earnings volatility, reduced financial constraints, improved stock performance, and the concentrated effect among cyclical industries. Cross-sectional tests further show that this effect is more pronounced among firms with greater female representation on boards and those are characterized by strong commitments to offering superior quality to customers and high integrity. The results of this study offer promising implications for both investors and firms located in areas where the gambling culture is deeply embedded in the social fabric.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"47 6","pages":"1547-1569"},"PeriodicalIF":2.7,"publicationDate":"2026-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148696315","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Are Both Quantity and Quality of Green Innovation Exalted in Polluting Firms Under Environmental Regulation? 环境规制下污染企业绿色创新的数量和质量是否都得到提升？
IF 2.7 3区 经济学
Managerial and Decision Economics Pub Date : 2026-08-06 Epub Date: 2026-05-20 DOI: 10.1002/mde.70115
Sin-Som Sergio Tsiong, Jiaqi Feng, Mingqian Zhang
{"title":"Are Both Quantity and Quality of Green Innovation Exalted in Polluting Firms Under Environmental Regulation?","authors":"Sin-Som Sergio Tsiong,&nbsp;Jiaqi Feng,&nbsp;Mingqian Zhang","doi":"10.1002/mde.70115","DOIUrl":"https://doi.org/10.1002/mde.70115","url":null,"abstract":"<div>\u0000 \u0000 <p>Green innovation plays a crucial role in the context of the low-carbon economy. Still, it is equally important to focus on gatekeeping the quality of innovation amidst the plethora of innovative outcomes. This article aims to investigate how China's carbon emission trading (CET) pilot will affect both the quantity and quality of green innovation among polluting firms. First, we construct a partial equilibrium model to describe the asymmetric effects of the CET pilot on green innovation. Then, we conduct empirical examinations based on a sample of polluted firms listed on the A-share market, using patent applications with their citation information. The results show that the CET pilot indeed stimulates the quantity of green innovation through the “leverage effect,” which is also moderated by the social responsibility firms assume. However, the green innovation quality and even the overall technological level are significantly inhibited. The results imply that there exists a certain “innovation illusion” in green innovation among polluting firms listed on the A-share market, suggesting that more effective incentive policies should be implemented to ensure both quantity and quality are improved synchronically.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"47 6","pages":"1570-1587"},"PeriodicalIF":2.7,"publicationDate":"2026-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148696597","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Working Capital Optimization in the Energy Sector: The Intellectual Capital Perspective 能源行业营运资金优化：智力资本视角
IF 2.7 3区 经济学
Managerial and Decision Economics Pub Date : 2026-08-06 Epub Date: 2026-04-27 DOI: 10.1002/mde.70105
Ranjit Tiwari
{"title":"Working Capital Optimization in the Energy Sector: The Intellectual Capital Perspective","authors":"Ranjit Tiwari","doi":"10.1002/mde.70105","DOIUrl":"https://doi.org/10.1002/mde.70105","url":null,"abstract":"<div>\u0000 \u0000 <p>This study examines the relationship between working capital management and intellectual capital in the Indian energy sector firms. To investigate such nexus, this study uses the <i>cash-conversion-cycle</i> and <i>working-capital-requirement</i> as a measure of working capital management and the <i>value-added-intellectual-coefficient</i> and <i>modified-value-added-intellectual-coefficient</i> as a measure of intellectual capital coefficient. This study uses a sample of 158 Indian energy-sector firms covering the period 2010–2022. The panel-corrected standard error technique is employed to test the aforementioned relationship because it corrects for heteroskedasticity and cross-sectional dependence in panel data, providing reliable standard errors and more accurate relationship estimates. The results provided empirical evidence of a significant negative association between the working capital management and the intellectual capital coefficient for energy sector firms in India. Further analysis shows that the capital employed and structural capital coefficients are the intellectual capital components most closely associated with variations in working capital management, indicating that firms with higher intellectual capital largely reflected through these components tend to suggest tighter working-capital cycles and optimum utilization of funds.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"47 6","pages":"1404-1424"},"PeriodicalIF":2.7,"publicationDate":"2026-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148696622","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Exploring the Value of Information Sharing in Mitigating Supply Chain Disruptions: Impact of Channel Encroachment 探讨信息共享在缓解供应链中断中的价值：渠道侵占的影响
IF 2.7 3区 经济学
Managerial and Decision Economics Pub Date : 2026-06-01 Epub Date: 2026-03-06 DOI: 10.1002/mde.70090
Xide Zhu, Cen Guan, Yuwei Li, Haiyang Cui
{"title":"Exploring the Value of Information Sharing in Mitigating Supply Chain Disruptions: Impact of Channel Encroachment","authors":"Xide Zhu,&nbsp;Cen Guan,&nbsp;Yuwei Li,&nbsp;Haiyang Cui","doi":"10.1002/mde.70090","DOIUrl":"https://doi.org/10.1002/mde.70090","url":null,"abstract":"<div>\u0000 \u0000 <p>Globalization has significantly amplified the risk of supply chain disruptions, posing serious threats to operational stability. While e-commerce platforms facilitate information sharing among supply chain members, the precise strategic value of such sharing under disruption risk remains insufficiently explored, particularly across different distribution channels. This research examines a two-tier supply chain comprising a manufacturer with potential supply disruptions and an e-commerce platform. The interaction is modeled using a Stackelberg game framework under two distinct sales configurations: without and with manufacturer encroachment. The analysis reveals that the value of information sharing is highly sensitive to several factors, including the sales channel structure, the pattern of demand fluctuations, the manufacturer's efficiency in improving resilience, the intensity of channel competition, and the platform's revenue-sharing rate. Under the wholesale model, the platform prefers (not) to share negative (positive) demand information. In contrast, under the hybrid model, the platform's sharing strategy becomes complex, which is jointly moderated by multiple parameters. Notably, under disruption-induced capacity constraints, a higher ex-ante capacity commitment to the wholesale channel paradoxically reduces realized order volumes, as the manufacturer raises wholesale prices to compensate for reduced allocation flexibility. The manufacturer's encroachment decision is fundamentally a trade-off between fixed entry costs and anticipated incremental gains. Both elevated revenue-sharing rates and intensified channel competition are found to suppress the manufacturer's incentive to encroach. Finally, extensions considering endogenous allocation and a signaling game framework demonstrate that the manufacturer's ability to infer demand signals enhances wholesale profitability, thereby further mitigating the motivation for channel encroachment.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"47 5","pages":"1179-1200"},"PeriodicalIF":2.7,"publicationDate":"2026-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148147073","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The “Halo” of Financial Innovation: Financial Technology and Total Factor Productivity Growth in Chinese Energy Companies 金融创新的“光环”：金融科技与中国能源企业全要素生产率增长
IF 2.7 3区 经济学
Managerial and Decision Economics Pub Date : 2026-06-01 Epub Date: 2026-03-08 DOI: 10.1002/mde.70098
Yafei Kang, Haoyu Zhang, Wenji Wang, Xiangyang Yang, Nana Chen
{"title":"The “Halo” of Financial Innovation: Financial Technology and Total Factor Productivity Growth in Chinese Energy Companies","authors":"Yafei Kang,&nbsp;Haoyu Zhang,&nbsp;Wenji Wang,&nbsp;Xiangyang Yang,&nbsp;Nana Chen","doi":"10.1002/mde.70098","DOIUrl":"https://doi.org/10.1002/mde.70098","url":null,"abstract":"<div>\u0000 \u0000 <p>This paper examines how financial technology (Fintech) development affects the total factor productivity (TFP) of energy companies in China using panel data from 2010 to 2022. The results show that Fintech significantly improves corporate TFP. Mechanism analyses indicate that Fintech enhances productivity by easing financing constraints, increasing policy support such as financial subsidies and tax incentives, and promoting R&amp;D-oriented innovation investment. The effect is stronger for mature firms and non–state-owned enterprises, reflecting clear heterogeneity across firms. In addition, regional marketization and attention to the digital economy serve as important external moderators that reinforce the influence of Fintech on TFP. These findings deepen the understanding of digital financial innovation in the energy industry and provide new evidence on how Fintech contributes to high-quality and low-carbon development.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"47 5","pages":"1201-1218"},"PeriodicalIF":2.7,"publicationDate":"2026-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148147019","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Tech-Savvy, Business-Wise: How IT-Oriented Executives Drive AI Adoption 精通技术，商业智慧：it导向的高管如何推动人工智能的采用
IF 2.7 3区 经济学
Managerial and Decision Economics Pub Date : 2026-06-01 Epub Date: 2026-03-05 DOI: 10.1002/mde.70095
Xinzi Xia, Jianxiang Zhang
{"title":"Tech-Savvy, Business-Wise: How IT-Oriented Executives Drive AI Adoption","authors":"Xinzi Xia,&nbsp;Jianxiang Zhang","doi":"10.1002/mde.70095","DOIUrl":"https://doi.org/10.1002/mde.70095","url":null,"abstract":"<div>\u0000 \u0000 <p>Artificial intelligence (AI) has emerged as a core engine of technological innovation and competitiveness. Using data on Chinese A-share listed firms from 2009 to 2023, we find that executives' IT background significantly promotes corporate AI adoption, particularly in learning-based AI rather than logic-based AI. Mechanism analyses suggest that IT-oriented executives facilitate AI adoption through strategic conduct in AI cognitive construction and substantive initiatives in AI technology innovation. Further heterogeneity analyses reveal that the positive effect is significantly stronger for executives with longer tenure, those occupying the CEO position, and those whose IT backgrounds were acquired in more recent technological eras. Moreover, the promoting effect of IT-oriented executives intensifies across successive stages of AI development.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"47 5","pages":"1161-1178"},"PeriodicalIF":2.7,"publicationDate":"2026-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148146959","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Industrial Agglomeration, Agglomeration Externalities and Enterprise Energy Intensity—An Analysis Based on Upstream and Downstream Industry Linkages 产业集聚、集聚外部性与企业能源强度——基于上下游产业联系的分析
IF 2.7 3区 经济学
Managerial and Decision Economics Pub Date : 2026-06-01 Epub Date: 2026-03-05 DOI: 10.1002/mde.70094
Xiaojie Liu, Hounan Chen
{"title":"Industrial Agglomeration, Agglomeration Externalities and Enterprise Energy Intensity—An Analysis Based on Upstream and Downstream Industry Linkages","authors":"Xiaojie Liu,&nbsp;Hounan Chen","doi":"10.1002/mde.70094","DOIUrl":"https://doi.org/10.1002/mde.70094","url":null,"abstract":"<div>\u0000 \u0000 <p>Continuous promotion of energy intensity (EI) reduction in the manufacturing industry is vital for achieving energy consumption and carbon emission reduction goals. This study expands the traditional specialized industrial agglomeration (IA) research perspective and establishes upstream-IA and downstream-IA types via industry linkages. Using microscale data for Chinese manufacturing enterprises from 2007 to 2015, through the agglomeration externality channel, we empirically assess the effects and paths of three IA types on enterprise EI and find the following: First, the specialized-IA, upstream-IA and downstream-IA types significantly reduce enterprise EI, and the upstream-IA type yields the greatest efficiency enhancement effect. Second, the analysis of the mechanism underlying agglomeration externalities reveals that the paths through which the specialized-IA type affects EI are labour pooling, intermediate input sharing and knowledge spillover; the paths through which the upstream-IA type operates are intermediate input sharing and knowledge spillover; and the path through which the downstream-IA type operates is labour pooling. Third, the effect of IA is particularly significant in the sample of nonexporting enterprises and energy-intensive enterprises. Fourth, the specialized-IA, upstream-IA and downstream-IA types reduce EI without reducing production, thus achieving synergy between efficiency enhancement and consumption reduction.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"47 5","pages":"1145-1160"},"PeriodicalIF":2.7,"publicationDate":"2026-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148146958","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Integrated Reporting: The Relevance of Connectivity in Intellectual Capital Disclosures for Market Valuation 综合报告：智力资本披露中连通性与市场估值的相关性
IF 2.7 3区 经济学
Managerial and Decision Economics Pub Date : 2026-06-01 Epub Date: 2026-03-11 DOI: 10.1002/mde.70091
Christine Reitmaier, Wolfgang Schultze, Nadine Zbiegly
{"title":"Integrated Reporting: The Relevance of Connectivity in Intellectual Capital Disclosures for Market Valuation","authors":"Christine Reitmaier,&nbsp;Wolfgang Schultze,&nbsp;Nadine Zbiegly","doi":"10.1002/mde.70091","DOIUrl":"https://doi.org/10.1002/mde.70091","url":null,"abstract":"<div>\u0000 \u0000 <p>We study the relevance of connectivity for market valuation. Connectivity describes the degree to which disclosures reflect interrelations between value drivers that help investors better understand the firm's value creation process. We analyze disclosures on the three intellectual capitals, their interactions, and a self-constructed connectivity score that captures the degree to which disclosures reveal connections within the IC components and with the value creation process. We find significant associations between market value and the interactions of IC capital disclosures as well as our connectivity score. We also find an increase in market value explanatory power in the degree of connectivity.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"47 5","pages":"1219-1258"},"PeriodicalIF":2.7,"publicationDate":"2026-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148147212","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Endogenous Market Structure With Upstream Corporate Social Responsibility 具有上游企业社会责任的内生市场结构
IF 2.7 3区 经济学
Managerial and Decision Economics Pub Date : 2026-06-01 Epub Date: 2026-03-04 DOI: 10.1002/mde.70092
Ryo Masuyama, Tomomichi Mizuno
{"title":"Endogenous Market Structure With Upstream Corporate Social Responsibility","authors":"Ryo Masuyama,&nbsp;Tomomichi Mizuno","doi":"10.1002/mde.70092","DOIUrl":"https://doi.org/10.1002/mde.70092","url":null,"abstract":"<div>\u0000 \u0000 <p>Firms in many industries engage in corporate social responsibility (CSR). We consider a vertical market with one upstream firm committed to CSR and two downstream firms providing differentiated goods, and analyze the endogenous market structure (Cournot, Bertrand, or Cournot–Bertrand competition) between the downstream firms. Contrary to conventional wisdom, we show that Bertrand competition emerges in the downstream market when the degree of upstream CSR is high. Under Bertrand competition, consumer surplus is larger, and the upstream firm with CSR prioritizes consumer surplus, which results in a lower input price. Consequently, the downstream firms earn higher profits under Bertrand competition.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"47 5","pages":"1133-1144"},"PeriodicalIF":2.7,"publicationDate":"2026-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148147173","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Cause Marketing Decisions With Consumer Prosocial Preference and Asymmetric Competition 消费者亲社会偏好与不对称竞争的成因营销决策
IF 2.7 3区 经济学
Managerial and Decision Economics Pub Date : 2026-06-01 Epub Date: 2026-03-05 DOI: 10.1002/mde.70087
Chuanliang Wu, Zhongjun Tian, Jing Chen, Wenxian Xu
{"title":"Cause Marketing Decisions With Consumer Prosocial Preference and Asymmetric Competition","authors":"Chuanliang Wu,&nbsp;Zhongjun Tian,&nbsp;Jing Chen,&nbsp;Wenxian Xu","doi":"10.1002/mde.70087","DOIUrl":"https://doi.org/10.1002/mde.70087","url":null,"abstract":"<div>\u0000 \u0000 <p>Firms commonly implement cause marketing (CM) to attract customers to purchase their products. This study introduces a two-stage simultaneous game model to examine the CM decisions of two firms offering substitute products of varying quality, while taking into account the prosocial preference of consumers. The research demonstrates that implementing CM can trigger a warm glow effect among prosocial consumers. Firms have the ability to adjust the intensity of this effect through their pricing and donation strategies. However, the costs associated with CM implementation play a significant role in shaping firms' decisions and may give rise to a prisoner's dilemma situation. Nevertheless, an evaluation of CM practices in e-commerce firms indicates that the adoption of CM can be mutually beneficial for both firms, ultimately enhancing social welfare in specific scenarios.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"47 5","pages":"1113-1132"},"PeriodicalIF":2.7,"publicationDate":"2026-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148146960","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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