Topic Review
Venture Capital and IPO Underpricing
IPO underpricing refers to the phenomenon that the initial public offering price of a stock is significantly lower than the initial market closing price of the listing, and this phenomenon is widespread in the capital market. It is generally believed that information asymmetry is one of the main reasons for IPO underpricing. In order to make up for investors who are at an information disadvantage, stock issuers will actively reduce the issuance price of stocks to promote the successful issuance of the stocks. The majority of companies listed on ChiNext are high-technology companies with high growth potential, and a large number of empirical studies have shown that venture capital plays a role in signaling high-quality equity offerings in the corporate process. This is because venture capital plays a monitoring and certification role, which means venture capitalists can determine which R&D activities are more likely to be successful, and they can provide investors with accurate information about R&D investment and whether the information disclosed at the IPO is true.
  • 693
  • 09 Jul 2021
Topic Review
Explain Organizational Resilience on the Firms
Resilience is a concept used in psychology, ecology, and engineering. Later, it got greater attention in business and management research, but in the context of crisis management or volatile changes. Thus, organizational resilience enables an adequate adaptation in crisis environments to survive, recover, grow, and achieve competitive advantage. In this sense, Duchek argues that organizations need to develop resilience to adapt to uncertain events through anticipation, coping, and adaptation.
  • 692
  • 08 Feb 2022
Topic Review
HEIs, Latin America Circular Economy
HEIs (Higher Education Institutions ) are main actors in the economic development and innovative potential of regions, but now and an increasing number of additional roles are expected. HEIs, as institutional actors, are enablers of social, economic, and cultural development, and sustainability. HEIs can foster collaboration between actors and catalyze public awareness and engagement in CE practices.
  • 691
  • 13 Sep 2021
Topic Review
Carbon Emissions and Firm Performance
: This paper examines the effects of carbon emissions on the accounting and market-based performance of financial and non-financial firms in emerging economies. Data for 104 financial and 328 non-financial firms constituting 2591 observations operating in 22 emerging economies were collected from the Datastream database for the period 2011–2020. We applied OLS and 2SLS regression techniques to analyze the data. The results show that financial firms emit less carbon than their non-financial counterparts. The results further show that carbon emissions reduce firms’ return on equity, Tobin’s Q, Z-score, and credit rating. Our findings remain robust in different estimation techniques and alternative proxies of performance. Our results have some important policy implications for emerging economies.
  • 691
  • 17 Dec 2021
Topic Review
Disaster Risk Governance in Croatia
Risk governance is mostly viewed through the lens of disaster or emergency management departments, agencies, or organizations. Visible in times of crises, risk governance is rarely seen as part of everyday public or private functions such as planning, social welfare, investments, or fiscal responsibilities. So far, Croatian disaster risk governance was mainly oriented towards disaster response (a military approach), which is based on a decades-old regulatory framework, as was elaborated thoroughly in the previous work. Nevertheless, Croatia has just recently (within the last few years) started switching its focus from disaster risk preparedness to disaster risk management with the introduction of the Homeland Security System Act. While mainly oriented towards disaster response, in general, the Croatian disaster risk management system (regulatory framework) recognizes only two areas of disaster risk management: prevention and response. Therefore, the Croatian disaster risk management system can hardly be fully valorized through the objectives of the Sendai framework for disaster risk reduction.
  • 691
  • 07 Apr 2022
Topic Review
Internet Booking Engine
An Internet booking engine (IBE) is a website that allows consumers and travel agents to book flights, hotels, holiday packages, insurance and other services online.
  • 689
  • 16 Nov 2022
Topic Review
Tourism Industry during Pandemic COVID-19
The tourism industry has always been affected by natural disasters or health crises, but the effects were local and could be combated. The global nature of the COVID-19 crisis has caused a domino effect that has profoundly affected the entire industry at the systemic level. Combating these effects can no longer be done through individual, local measures; a systemic approach is needed to manage the crisis better. There are also positive implications of the COVID-19 crisis on tourism in developed countries that have better addressed the health crisis. Given the traffic restrictions across borders, tourists will choose local facilities that will positively affect national tourism. Less developed countries, which are severely affected by the health crisis and have relied heavily on international tourism, are experiencing a sharp decline in the tourism industry.
  • 689
  • 09 Jul 2021
Topic Review
Circular Economic
The circular economy (CE) is arising as a novel economic system that is restorative by design. In light of its capability to boost sustainable economic development and to cope with environmental challenges, it has recently attracted increasing attention from academics, practitioners, policymakers, and intergovernmental organizations. 
  • 687
  • 05 Jan 2021
Topic Review
Cumulus
Cumulus is a digital asset management software designed for client/server system which is developed by Canto Software. The product line includes editions targeted to smaller organizations and larger enterprises. The product makes use of metadata for indexing, organizing, and searching.
  • 687
  • 06 Dec 2022
Topic Review
Corporate Governance, Financial Innovation and Performance
In recent years, the rapid development of digital technology has prompted changes in the business model of banks. The business model has shifted from conventional physical bank branches to internet banking and then to mobile banking. During 2011–2019, the banks have higher shareholding of institutional investors, ratio of independent directors, rate of directors’ attendance, average education level of directors and ratio of directors with a financial or accounting background, the greater innovative financial services offered by banks. After 2015, the influence of corporate governance on banks’ innovative financial services has increased. Moreover, the greater financial innovation services, the higher the bank profitability and value, especially after 2015. Finally, offering more innovative financial services can enhance the value of financial-holding subsidiary banks; by contrast, doing the same might negatively affect the profitability of nonfinancial-holding banks.
  • 686
  • 06 Jun 2022
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