UPF Barcelona School of Management

Small and medium enterprises (SMEs) are responsible for 90% of all business and 50% of employment globally, mostly female jobs. Therefore, measuring SMEs' performance under the digital transformation (DT) through methods that encompass sustainability represents an essential tool for reducing poverty and gender inequality (United Nations Sustainable Development Goals). We aimed to describe and analyze the state-of-art performance evaluations of digital transformation in SMEs, mainly focusing on performance measurement. Also, we aimed to determine whether the tools encompass the three pillars of sustainability (environmental, social, and economic). Through a systematic literature review (SLR), a search on Web of Science (WoS) and Scopus resulted in the acceptance of 74 peer-reviewed papers published until December 2021. Additionally, a bibliometrics investigation was executed. Although there was no time restriction, the oldest paper was published in 2016, indicating that DT is a new research topic with increasing interest. Italy, China, and Finland are the countries that have the most published on the theme. Based on the results, a conceptual framework is proposed. Also, two future research directions are presented and discussed, one for theoretical and another for practical research. Among the theoretical development, it is essential to work on a widely accepted SME definition. Among the practical research, nine directions are identified-e.g., applying big data, sectorial and regional prioritization, cross-temporal investigations etc. Researchers can follow the presented avenues and roads to guide their researchers toward the most relevant topics with the most urgent necessity of investigation.

Machine-learning methods exploit fund characteristics to select tradable long-only portfolios of mutual funds that earn significant out-of-sample annual alphas of 2.4% net of all costs. The methods unveil interactions in the relation between fund characteristics and future performance. For instance, past performance is a particularly strong predictor of future performance for more active funds. Machine learning identifies managers whose skill is not sufficiently offset by diseconomies of scale, consistent with informational frictions preventing investors from identifying the outperforming funds. Our findings demonstrate that investors can benefit from active management, but only if they have access to sophisticated prediction methods.

Miscalculating the volumes of water withdrawn for irrigation, the largest consumer of freshwater in the world, jeopardizes sustainable water management. Hydrological models quantify water withdrawals, but their estimates are unduly precise. Model imperfections need to be appreciated to avoid policy misjudgements.

The R package sensobol provides several functions to conduct variance-based uncertainty and sensitivity analysis, from the estimation of sensitivity indices to the visual representation of the results. It implements several state-of-the-art first and total-order estimators and allows the computation of up to fourth-order effects, as well as of the approximation error, in a swift and user-friendly way. Its flexibility makes it also appropriate for models with either a scalar or a multivariate output. We illustrate its functionality by conducting a variance-based sensitivity analysis of three classic models: the Sobol' (1998) G function, the logistic population growth model of Verhulst (1845), and the spruce budworm and forest model of

The visibility of academic articles or conference papers depends on their being easily found in academic search engines, above all in Google Scholar. To enhance this visibility, search engine optimization (SEO) has been applied in recent years to academic search engines in order to optimize documents and, thereby, ensure they are better ranked in search pages (i.e., academic search engine optimization or ASEO). To achieve this degree of optimization, we first need to further our understanding of Google Scholar’s relevance ranking algorithm, so that, based on this knowledge, we can highlight or improve those characteristics that academic documents already present and which are taken into account by the algorithm. This study seeks to advance our knowledge in this line of research by determining whether the language in which a document is published is a positioning factor in the Google Scholar relevance ranking algorithm. Here, we employ a reverse engineering research methodology based on a statistical analysis that uses Spearman’s correlation coefficient. The results obtained point to a bias in multilingual searches conducted in Google Scholar with documents published in languages other than in English being systematically relegated to positions that make them virtually invisible. This finding has important repercussions, both for conducting searches and for optimizing positioning in Google Scholar, being especially critical for articles on subjects that are expressed in the same way in English and other languages, the case, for example, of trademarks, chemical compounds, industrial products, acronyms, drugs, diseases, etc.

Abstract The transition from a linear economy to a circular economy (CE) is a real challenge to achieve long‐term sustainability. To push CE in the market, institutional promotion could become a key driver to positively impact both circular consumption and the competitiveness of the market. This paper analyzes the influence that soft and hard initiatives have on circular consumption and market competitiveness. Based on a survey of 1,281 respondents from different types of stakeholders, structural equations modeling statistical analysis was run. Results show that soft initiatives support the achievement of both objectives, whereas hard ones only influence greater circular consumption. However, the perception of the different stakeholders considered is very heterogeneous. It is indicative that not all institutional promotion initiatives are effective. Thus, institutions should guide, in an adequate and differentiated manner, their efforts to promote CE and sustainable development depending on the stakeholder they are targeting.

Purpose This study investigates three issues associated with playing sports video games: the correlates of participation (and its intensity) in this type of activity, their complementarity with traditional sports and their perception as sport. Given the scarcity of data on esports participation, these results can be seen as an initial approach to these issues with regard to esports. Design/methodology/approach Sequential, two-part and regression models are estimated using a sample of 11,018 individuals from the Survey of Sporting Habits in Spain 2015. Findings First, the association of the correlates follows different patterns for participation in sports video games and its intensity. Second, complementarity with traditional sports is found using different approaches. Third, young people consider this activity as a dimension of their overall interest in sports. Practical implications The different association of the correlates with participation in esports and its intensity can be used to define marketing and brand investment strategies. The complementarity between esports and traditional sports should influence how the actual stakeholders in sport define future strategies to favour the growth of both industries. Finally, the increasing perception of esports as a sport should influence the future organisation of multi-sport events like the Olympic Games. Originality/value Using sports video games participation as a proxy of esports participation, this study is the first to provide empirical evidence of the relevance of distinguishing between participation in esports and its intensity, their complementarity with traditional sports and their perception as sport.

A growing number of people (privately) endorse the benefits associated with adopting a meat-free diet. Yet, the societal transition to a more plant-based diet is taking place rather slowly. Why do people's private meat-free preferences fail to materialize in their daily food choices? One potential explanation is that vegetarians and vegans, at this time still a minority group, are worried about eliciting stigma and thus may not feel comfortable expressing their meat-free preferences during social interactions with meat-eaters. Their self-silencing could reinforce the notion that adopting a meat-free diet is nothing more than a niche phenomenon, and in turn discourage others from eliminating meat from their diet as well, thus perpetuating the non-vegetarian norm. Adapting the classic conformity paradigm by Asch, we found that vegetarian and vegan participants were hesitant to express their meat-free preferences. Vegan and vegetarian participants avoided signing a petition that promoted veg*an food options after a majority of confederates had declined to do so. When the experimenter endorsed veg*an food options, however, participants went against the majority, and did sign the petition. Together, these findings point to a pivotal role for exemplars and institutions: by signaling that there are allies who endorse a meat-free diet, they may liberate vegetarians and vegans to publicly express their deviant, meat-free preferences, and thus speed up wider societal change.

Abstract This editorial lays out the core themes of the special feature and provides an overview of the contributions. It introduces the main argument, namely that the promises of far-reaching change made by recent bioeconomy policies are in fact strategically directed at avoiding transformative change to existing societal arrangements. Bioeconomy discourse showcases technological solutions purported to solve sustainability ‘problems’ while sustaining economic growth, but avoids issues of scalability, integration or negative consequences. Thus, bioeconomy policies, and particularly the latest versions of the predominantly European ‘bio-resource’ variety that have rhetorically integrated a lot of previous sustainability-minded criticism, serve to ward off or delay challenges to an unsustainable status quo, in effect prolongating the escalatory imperatives of capitalist modernity that are at the root of current crises. The editorial’s second part highlights the contributions that the 13 featured articles, based on theoretical considerations as well as policy analyses and empirical case studies from a range of countries, make to this argument.

Abstract Research summary Drawing on the “varieties of capitalism” literature, we develop an actor‐centered framework that explains firm‐level corporate social performance (CSP) by emphasizing the importance of considering owners' and other stakeholders' motives toward CSP—which can be instrumental, relational or moral—and their salience in the national institutional setting. Results from an international panel show that investment company (government) ownership has a stronger negative (positive) relationship with CSP in liberal markets, in which owners are the key stakeholder, as compared to coordinated markets, which counterbalance the interests of multiple stakeholders. Family and company ownership have weaker links to CSP across institutional settings. We discuss implications for research and practice and argue that CSP policies may hold more relevance in liberal rather than coordinated market economies. Managerial summary Existing debates focus on the impact of corporate social performance (CSP) on firm outcomes. Less is known about the motives and pressures behind CSP, which may explain its variability across firms and institutional settings. We argue that powerful owners' motives are important for explaining CSP in liberal markets, where shareholders are the most important stakeholder, as compared to coordinated markets, which confer prominence to multiple stakeholders. Owners' motives are not homogenous and depending on the type of owners the link between ownership concentration and CSP can be negative (for investment companies) or positive (for governments). In coordinated markets, owners have a weaker impact on CSP, which is mostly attributable to their lower salience relative to stakeholders, rather than to a change in their motives.

Does competition affect moral behavior? This fundamental question has been debated among leading scholars for centuries, and more recently, it has been tested in experimental studies yielding a body of rather inconclusive empirical evidence. A potential source of ambivalent empirical results on the same hypothesis is design heterogeneity-variation in true effect sizes across various reasonable experimental research protocols. To provide further evidence on whether competition affects moral behavior and to examine whether the generalizability of a single experimental study is jeopardized by design heterogeneity, we invited independent research teams to contribute experimental designs to a crowd-sourced project. In a large-scale online data collection, 18,123 experimental participants were randomly allocated to 45 randomly selected experimental designs out of 95 submitted designs. We find a small adverse effect of competition on moral behavior in a meta-analysis of the pooled data. The crowd-sourced design of our study allows for a clean identification and estimation of the variation in effect sizes above and beyond what could be expected due to sampling variance. We find substantial design heterogeneity-estimated to be about 1.6 times as large as the average standard error of effect size estimates of the 45 research designs-indicating that the informativeness and generalizability of results based on a single experimental design are limited. Drawing strong conclusions about the underlying hypotheses in the presence of substantive design heterogeneity requires moving toward much larger data collections on various experimental designs testing the same hypothesis.

This paper examines small hotels that have some type of environmental certification. A survey of 210 small (less than 50 employees) Catalonian hotels was conducted to investigate whether there are significant differences in the results of the implementation practices between hotels that adopt these certifications due to environmental pressure (from the government, customers, suppliers and other stakeholders) and hotels that voluntarily commit to green policies. Significant differences were identified in the results on the hotels when structural equation modelling (SEM) was undertaken. This investigation suggests that hotels that voluntarily commit to green policies obtain better results than other hotels. The conclusion is that governments must not only regulate, but also promote awareness actions in small and medium-sized (SME) tourism companies to improve the environment. SME tourism companies must understand that both the environment and they themselves will benefit.

Abstract Continuations allow inventors to add new claims to old patents, leading to concerns about unintended infringement and holdup. We study how continuations are used in standard essential patent (SEP) prosecution. Difference in differences estimates suggest that continuation filings increase by 80%–121% after a standard is published. This effect is larger for applicants with licensing‐based business models and for patent examiners with a higher allowance rate. Claim language is more similar for SEPs filed after standard publication, and late‐filing is positively correlated with litigation. These findings suggest widespread use of continuations to draft patents that are infringed by already‐published standards.

Abstract We investigated the synergies and trade-offs between lean management practices and digital transformation promoted via Industry 4.0 (I4.0) technologies in current manufacturing shop floors. We used a fuzzy-set qualitative comparative analysis to examine possible interactions in a sample of 568 European manufacturing plants from the European Manufacturing Survey. Our results show that various causal pathways exist between lean practices and I4.0 technologies that contribute to improving industrial performance, highlighting the influence of vertical and horizontal data integration (VHDI) even ahead of other more extended applications, such as robotics. Furthermore, our results reveal that the combination of I4.0 technologies analyzed (VHDI, advanced robotics, and additive manufacturing) can lead to sufficient conditions for improving plant performance. From a management point of view, our findings underline the need to avoid myopic attitudes toward I4.0 opportunities. Lean programs should be designed with technological issues in mind, as digital features can establish powerful mechanisms that develop and reinforce the contributions of operational routines to manufacturing strengths in the face of new market requirements. In addition, managers must take into account the implications of the new situation: continuous learning and workforce training will be essential for workers to adapt to the requirements that digital transformation of shop floors has brought about.

People often perceive their in-groups as more heterogeneous than their out-groups. We propose an information sampling explanation for this in-group heterogeneity effect. We note that people frequently obtain larger samples of information about in-groups than about out-groups. Using computer simulations, we show that this asymmetry in sample sizes implies the in-group heterogeneity effect under a wide range of assumptions about how experience affects perceived variability. This is the case even when perceived variability is the outcome of rational information processing, implying that the structure of the environment is sufficient to explain the emergence of the in-group heterogeneity effect. A key assumption of our explanation is that perceived group variability depends on the size of the sample observed about this group. We provide evidence in support for this assumption in two experiments. Our results considerably expand the scope and relevance of a prior sampling explanation proposed by Linville, Fischer, and Salovey (1989). They also complement other explanations that proposed that information about in-groups and out-groups is processed differently. (PsycINFO Database Record (c) 2019 APA, all rights reserved).

Abstract Research Summary The market for acquiring technology companies is rife with information frictions. Although such frictions can stifle trading activity, they also provide room for strategic gain. We investigate this dual role of information frictions by exploiting an institutional reform that releases technological information to the public domain. Leveraging cross‐sectoral variation in the magnitude of disclosure, we find an increase in acquisition activity and in the technological distance between matched pairings. In line with predictions from strategic factor market theory, however, we also find a disproportionate decline in acquirer returns on average. Our findings suggest that information disclosed through the reform‐facilitated exchange in the takeover market yet had a leveling effect on the returns to acquirers. Managerial Summary Firms acquire technology‐oriented companies to complement internal R&D projects and accelerate the innovation process. But identifying promising targets is challenging, not least due to the lack of information about the value of acquired technologies. This study investigates an information shock and tests its effects on the market for acquiring technology‐intensive companies. We find that greater disclosure of technological information to the public domain intensifies trading activity and allows acquirers to better identify and assess targets outside their core technological domains. But it also reduces the returns to acquirers. In combination, our findings illuminate a dual role of information disclosure: placing more information into the public domain may facilitate trade in corporate takeover markets while simultaneously restricting acquirer opportunities for strategic gain.

<h3>ABSTRACT</h3> Speech rate plays a critical role in understanding speech and therefore in advertising messages. Announcers tend to speak fast in radio and television commercials. Can this pace affect consumers9 cognitive processing? This study analyzes the effects of different speech rates (160, 180, and 200 words per minute) on the effectiveness of commercials, physiological arousal and attention, emotional valence, and recall and recognition of information with respect to audio advertisements. The results showed that speech rate influenced cognitive processing and modified the consumer9s physiological response. The commercials at a moderate rate—180 words per minute—achieved the best results. These findings suggest that the announcer9s rate should be adjusted to achieve the best consumer information processing.

Abstract Retailer price promotions, and in particular multi-unit deals such as the ubiquitous “buy one, get one,” are often criticized as a cause of food waste, presumably because they lure households into buying more than they can realistically consume. In this research, the authors combine field data and experiments to provide the first systematic test of this claim. The field data, which span eight frequently purchased perishable foods, show no evidence of a positive relationship between single-unit or multi-unit price promotions and food waste. In fact, households that took advantage of a multi-unit deal reported wasting less than did households paying regular prices (RPs), but only when the quantity purchased was larger than usual. Given this result, and that households also reported consuming and freezing more, the authors hypothesize that promotion-induced overbuying triggers a concern for food waste that encourages waste prevention. One experiment finds support for this mechanism. A second experiment shows that the effect on food waste concerns is moderated by perishability and versatility but unaffected by convenience and healthiness. Overall, then, this research invites regulators and other professionals to rethink their stance on price promotions and work with retailers to design smart campaigns that motivate waste awareness and management.

Abstract The notion of convergent and transdisciplinary integration, which is about braiding together different knowledge systems, is becoming the mantra of numerous initiatives aimed at tackling pressing water challenges. Yet, the transition from rhetoric to actual implementation is impeded by incongruence in semantics, methodologies, and discourse among disciplinary scientists and societal actors. Here, we embrace “integrated modeling”—both quantitatively and qualitatively—as a vital exploratory instrument to advance such integration, providing a means to navigate complexity and manage the uncertainty associated with understanding, diagnosing, predicting, and governing human‐water systems. From this standpoint, we confront disciplinary barriers by offering seven focused reviews and syntheses of existing and missing links across the frontiers distinguishing surface and groundwater hydrology, engineering, social sciences, economics, Indigenous and place‐based knowledge, and studies of other interconnected natural systems such as the atmosphere, cryosphere, and ecosphere. While there are, arguably, no bounds to the pursuit of inclusivity in representing the spectrum of natural and human processes around water resources, we advocate that integrated modeling can provide a focused approach to delineating the scope of integration, through the lens of three fundamental questions: (a) What is the modeling “purpose”? (b) What constitutes a sound “boundary judgment”? and (c) What are the “critical uncertainties” and their compounding effects? More broadly, we call for investigating what constitutes warranted “systems complexity,” as opposed to unjustified “computational complexity” when representing complex natural and human‐natural systems, with careful attention to interdependencies and feedbacks, scaling issues, nonlinear dynamics and thresholds, hysteresis, time lags, and legacy effects.

Abstract Academics and practitioners alike recognize the important role of businesses in achieving the UN’s Sustainable Development Goals (SDGs). However, research is still needed to understand strategies that can aid the private sector in this regard. The objective of the current paper is twofold. First, it provides an interdisciplinary systematic literature review of 96 papers published between 2015 and 2022 to analyse the state-of-the-art of the academic literature on the enablers that can facilitate SDG implementation in businesses. The analysis provides evidence that enablers can be categorized depending on whether they are external to the company (industry, tools, and education), internal to the company (company characteristics, governance, and adoption of innovation and technology), or a combination of both (Public–Private Partnerships). Second, it provides a specific research agenda on each enabler, offering relevant recommendations for academics, practitioners and policy makers to work simultaneously to achieve the UN’s 2030 Agenda.