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This paper aims to investigate investors' willingness to use robo-advisors from customers' perspectives and analyzes the factors that drive them to use robo-advisors, including perceived usefulness and emotional response.

The authors extend the Cognition-Affect-Conation (CAC) framework to the behavioral domain of robo-advisor users on financial technology platforms and conduct an empirical study based on 248 valid questionnaires.

The authors find two types of factors driving the willingness to use robo-advisors: perceived usefulness, trust and perceived risk as external driving forces and investor sentiment as an internal driving force. Trust has a significant positive effect on willingness to use, and arousal in emotional response plays a mediating role between perceived usefulness and willingness to use.

This research provides valuable insights for financial institutions to engage in robo-advisor innovation from customers' perspectives.

This study seeks to explore the intricate relationship among supply chain transparency, digitalization and idiosyncratic risk, with a specific focus on newly public firms. The objective is to determine whether supply chain transparency effectively mitigates idiosyncratic risk within this context and to understand the potential impact of digitalization on this dynamic interplay.

The study utilizes data from Initial Public Offerings (IPOs) on China’s Growth Enterprise Board (ChiNext) over the last five years, sourced from the CSMAR database and firms’ annual reports. The research covers the period from 2009 to 2021, observing each firm for five years post-IPO. The final sample comprises 2,645 observations from 529 firms. The analysis employs the Hausman test, considering the panel-data structure of the sample and favoring fixed effects over random effects. Additionally, it applies the high-dimensional fixed effects (HDFE) estimator to address unobserved heterogeneity.

The analysis initially uncovered an inverted U-shaped relationship between supply chain transparency and idiosyncratic risk, indicating a delicate equilibrium where detrimental effects diminish and beneficial effects accelerate with increased transparency. Moreover, this inverted U-shaped relationship was notably more pronounced in newly public firms with a heightened level of firm digitalization. This observation implies that firm digitalization amplifies the impact of transparency on a firm’s idiosyncratic risk.

This study distinguishes itself by providing distinctive insights into supply chain transparency and idiosyncratic risk. Initially, we introduce and substantiate an inverted U-shaped correlation between supply chain transparency and idiosyncratic risk, challenging the conventional linear perspective. Secondly, we pioneer the connection between supply chain transparency and idiosyncratic risk, especially for newly public firms, thereby enhancing comprehension of financial implications. Lastly, we pinpoint crucial digital conditions that influence the relationship between supply chain transparency and idiosyncratic risk management, offering a nuanced perspective on the role of technology in risk management.

Building supply chain resilience is increasingly recognized as an effective strategy to deal with supply chain challenges, risks and disruptions. Nevertheless, it remains unclear how to build supply chain resilience and whether supply chain resilience could achieve a competitive advantage.

By analyzing the data collected from 216 firms in China, the current study empirically examines how information technology (IT) capability and supply chain collaboration affect different forms of supply chain resilience (external resilience and internal resilience) and examines the performance implications of these two forms of supply chain resilience.

Results show that IT capability is positively related to external resilience, whereas supply chain collaboration is positively related to internal resilience. The combination of IT capability and supply chain collaboration is positively related to external resilience. In addition, internal resilience is positively related to firm performance.

This study used only cross-sectional data from China for hypothesis testing. Future studies could utilise longitudinal data and research other countries/regions.

The findings systematically assess how IT capability and supply chain collaboration contribute to supply chain resilience and firm performance. The results provide a benchmark of supply chain resilience improvement that can be expected from IT capability and supply chain collaboration.

The study findings advance the understanding of supply chain resilience and provide practical implications for supply chain managers.

This paper explores how Industry 4.0 facilitates small and medium-sized enterprises (SMEs) in emerging markets to gain and maintain organizational legitimacy from the government and market and capture value from circular economy (CE) adoption in their businesses.

The authors conduct an in-depth, multistakeholder case study in an SME in China’s hazardous waste recycling and re-utilization industry and apply a qualitative analysis.

The findings show that Industry 4.0 could facilitate SMEs to gain organizational legitimacy through two mechanisms, namely conforming and transcending. Conforming results in baseline-level outcomes to obtain legitimacy while transcending leads to ecosystem value-cocreation, which goes beyond government expectations and reinforces SMEs' legitimacy.

The authors validated the enabling role of Industry 4.0 in CE adoption in SMEs and have generated legitimation processes and strategies that facilitate SMEs to capture value from CE adoption.

This paper aims to examine the impacts of both Sharīʿah supervision and corporate social responsibility on banks’ risk-taking behavior and profitability. The analysis empirically uses dynamic and balanced panel data from 12 banks of Bangladesh for 2010–2019.

Dynamic panel generalized method of moments has been used primarily to examine the effects of Sharīʿah supervision and corporate social responsibility on risk-taking behavior and profitability. Later, the authors validate the core results using three-stage least squares and incorporates alternative risk and profitability measures in the baseline equation.

This study finds that Sharīʿah supervision heterogeneously derives benefits for Islamic banks and Islamic windows. Though there is no significant impact of female diversity on risk relying on board diversification, the bank can strengthen profitability. On the one hand, the annual changes in board composition reduce (increase) risk (financial and stability efficiency) but compromise profitability. Notably, socially responsible banks have been characterized as risk-averse and better stabilized (in terms of solvency and efficiency), more efficient and profitable.

Very few studies are available in the current literature which examine the impacts of Sharīʿah supervision and corporate social responsibility on either bank performance or risk-taking in the developing economy’s context.

This chapter explores how the recognition of opportunities regarding developing technology and entering a new market is influenced by the systemic effect of social forces. These include institutions, social networks and the entrepreneur’s cognitive frames. This study adopts a longitudinal perspective by capturing and analysing the phenomenon in two moments: first, when the businesses started to operate domestically and second, when they began to internationalise. The cases of five Brazilian technology firms are analysed. The findings reveal the systemic and mutually reinforcing effect of these social forces on the recognition of opportunities. The entrepreneurs’ cognitive frames were particularly vital in recognising opportunities to enter the Brazilian market. The institutional support provided by universities along with government mechanisms and entrepreneurs’ social networks were essential to accrue experiential and non-experiential knowledge of international markets, therefore contributing to the recognition of international opportunities. The temporal perspective employed in this research assists the understanding of how historical events shape entrepreneurs’ capabilities to recognise and change company discourse to pursue the recognition of international opportunities. The results provide guidelines for researchers, practitioners and policy-makers, particularly in the emerging economies in Latin America, to support the growth and flourishing of entrepreneurial ventures through pursuing international opportunities.

This study examines the relationship between banks' competition performance and risk-taking behavior concerning the impacts of bank size and the recent global financial crisis. The analysis empirically uses dynamic panel data from 1137 banks of the BRICS countries (i.e. Brazil Russia India China and South Africa) for the period 2000–2015.

Dynamic panel generalized method of moments (GMM) has been used primarily to examine the effect of bank competition on performance and risk-taking. Later the paper validates the core results by using three-stage least squares (3SLS) and incorporating alternative measure of competition in baseline equations.

This study confirms the significant impact of competition that complies with the structure-conduct-performance hypothesis quiet life hypothesis and “competition fragility” view. However, the key robust results are as follows: (1) in competitive markets large banks are more efficient than small banks; (2) there is a nonlinear relationship between competition performance and risk; (3) across bank size competition heterogeneously affects profitability efficiency risk and stability; (4) notably small banks are as efficient as large banks during crisis but shared with risk; and (5) small banks also stable during crisis in highly concentrated markets but less stable in competitive environments.

This study promotes higher market power for the bank's profitability and financial stability. More intently policymakers should nurture both cost and revenue efficiency for large banks as these are less efficient than small banks in concentrated markets though these banks produce risk. Hence those banks should be cautious to minimize non-performing loans and maximize stability regarding financial and efficiency. Based on the nonlinear pattern of competition the regulators should adopt different policies for short and long run. It also recommends encouraging commercial and cooperative banks in the BRICS region as these are more efficient risk-averse and better stabilized than other types of banks.

A good number of studies are available in the current literature which examines the impact of bank competition on either bank performance or risk-taking in a single country or cross country analysis. However, very few studies examine the relationship between bank performance and risk-taking behavior concerning the impacts of competition (non-linear and quadratic) size financial crisis and ownership structure together. Moreover, there is a dearth of literature on this topic that built on BRICS economies.

This study aims to investigate the relationship between capital regulation and risk-taking behavior (financial stability) concerning the impacts of the recent global (COVID-19) crisis and diverse ownership structure.

The analysis uses an unbalanced panel data set from 32 commercial banks of Bangladesh for 2000–2020. The authors use the two-step system generalized method of moments and three-stage least squares to produce the study outcomes.

The robust results reveal that the relationship between capital regulation and risk (financial stability) is negative (positive) and bi-directional. More significantly, COVID-19 makes banks fragile and demands more capital to absorb risk. However, the effect of COVID-19 is heterogeneous when the authors consider ownership structure. Among the diverse ownership styles, Islamic and active shareholding show their controlling wheel on capital regulation and risk-taking aptitude (financial stability) during the global (COVID-19) crisis. In normal economic conditions, private banks and minority active shareholding can be a good determinant for capital regulation and risk (financial stability). On the other hand, state-owned and large banks have been found as less capitalized and highly risky.

This study is the pioneer in exploring capital regulation and risk toward the recent global (COVID-19) crisis.

This paper aims to empirically investigate the impact of bank diversification on performance and risk-taking behavior. The analysis uses an unbalanced panel data set covering the period between 2007 and 2015 for a total of 1,397 banks from ASEAN-5 and BRICS economies.

Dynamic panel generalized method of moments (GMM) has been used primarily to examine the relationship between bank diversification on performance and risk-taking and later, validate the core results by incorporating two-stage least squares (2SLS).

Similar to the results of previous studies based on the developed economy, this study also confirms the hypothesis of the portfolio diversification. The key robust result is that the benefits from revenue and assets diversification are heterogeneous and the BRICS banks achieve higher benefit from using both diversification strategies. On the other hand, ASEAN-5 banks fail to show the significant advantage from assets diversification. Among the diverse sources of income, interest is not a major determinant of efficiency and bank’s stability, while ASEAN-5 banks should foster commission and others income as mechanisms for diversification benefit in the region.

A few studies are available in the current literature which examines the impact of revenue and assets diversification on either bank performance or risk-taking in the developed economy’s context. However, very few studies are found that examine the relationship between bank diversification, performance and risk-taking together. Moreover, to the best of the author’s knowledge, there is a dearth of literature on this topic that built on the comparative analysis between two regions, i.e. ASEAN-5 and BRICS. As a result, the empirical results of this research provide useful information to the stakeholders so that they can enhance bank diversification strategy and implement them successfully by considering the other factors.

The authors evaluate financial stability and capital flows management objectives of capital controls in the context of four capital control events: removing or imposing controls on capital inflows and removing or imposing controls on capital outflows. The authors use synthetic control method to solve the endogeneity problem stemmed from the timing of capital control implementation. The authors find new evidence that capital controls are not consistently effective in reaching financial stability outcomes but are consistent in reaching capital flows management outcomes. The authors compare our results to estimates using difference-in-difference (DID) and carry out placebo analysis. Finally, we use synthetic DID to correct for the parallel trend bias and show that the results still hold.