International Journal of Entrepreneurship and Small Business (57 papers in press)

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  Informal entrepreneurship and entrepreneurial ecosystems: a systematic literature review and future research agenda ( Free Full-text Access )

  by Ghita Naaimy, Karim Messeghem 
  Abstract: The evolving dynamics of informal entrepreneurship (IE) within entrepreneurial ecosystems (EEs) is a complex and under-explored area of research. This article provides a systematic literature review of the intersection between IE EEs, addressing a central gap: EE research often sidelines informal actors, while IE research frequently under-specifies ecosystem mechanisms (networks, culture, intermediaries, and resource access). We synthesise 72 articles (2009-March 2025) using thematic analysis to derive an integrative model and research agenda. The thematic analysis, underpinned by content analysis, discerns thematic threads that offer a solid synthesis of the existing body of knowledge.
  Keywords: entrepreneurial ecosystems; informal entrepreneurship; systematic literature review; thematic analysis.
  DOI: 10.1504/IJESB.2026.10080873
   
  
• Pharmaceutical entrepreneurship as an important driver of foreign institutional investors: a comprehensive business analysis  
  by Rahul Mohan, Deepika Chaudhary, Manmohan Chaudhry, Mohd Rafiq Shah 
  Abstract: This study examines the relationship between financial performance indicators and Foreign Institutional Investor (FII) holdings in ten Nifty Pharma companies from 2021 to 2025. Using comprehensive financial ratios and FII holding data, we employ advanced statistical techniques including Spearman rank correlation, multiple linear regression, augmented Dickey-Fuller tests, and Granger causality analysis across five hypothesis categories. Our findings reveal that Net Profit Margin demonstrates the strongest correlation with FII holdings (ρ = 0.8123, p<0.001), challenging traditional pharmaceutical investment assumptions. All profitability ratios show strong positive correlations (100% hypothesis validation), while leverage metrics exhibit moderate negative relationships. The multiple regression model explains 51.47% of variance in FII holdings, significantly outperforming single-metric approaches. This research provides valuable insights into institutional investor behaviour in pharmaceutical sectors during the post-COVID period, offering strategic guidance for investment decisions and corporate financial management in healthcare industries.
  Keywords: foreign institutional investors; FIIs; financial performance; Nifty Pharma; financial ratios; investment behaviour; healthcare sector.
  DOI: 10.1504/IJESB.2026.10075418
   
  
• Current trends and future agendas in tribal entrepreneurship research: a bibliometric analysis  
  by Dharen Pandey 
  Abstract: This bibliometric analysis comprehensively examines the tribal entrepreneurship literature from 1978 to 2024, focusing on publication trends, influential documents, and key themes. The findings reveal a significant increase in research output from 2001 onwards, with notable contributions from developed countries like the United States, New Zealand, and the United Kingdom. Influential documents highlight the role of culture, innovation, and economic development in tribal communities, with scholars like Tapsell, P. and Woods, C. shaping the field. The Journal of Enterprising Communities and the International Journal of Entrepreneurship and Small Business are the major contributing journals. The literature is segregated into seven thematic clusters focusing on sustainable growth, entrepreneurial challenges, and innovation. The paper concludes with recommendations for future research directions to address these gaps and enhance tribal entrepreneurship's sustainability and growth.
  Keywords: tribal entrepreneurs; tribal entrepreneurship; tribal enterprises; tribal sovereignty; tribal women.
  DOI: 10.1504/IJESB.2026.10075515
   
  
• Delving into backers’ motivations in donation-based crowd-funding: insights from a biodiversity conservation case study  
  by Thibault Cuénoud , Rey Dang, L’Hocine Houanti , Jean-Michel Sahut 
  Abstract: Confronted with the impact of anthropisation on biodiversity and its environment, crowd-funding (CF) can assist with funding shortfalls in environment preservation. However, little is known regarding sustainable crowdfunding. To fill this gap, this study examines a crowdfunding project focused on biodiversity (reforestation). Specifically, we examine backers’ altruism, the founder’s social capital, and gender bias. Firstly, we find that backers’ altruism is not significantly correlated to their contributions, even for this type of project with an environmental objective. Secondly, we reveal that the founder’s social capital is positively and significantly correlated to backers’ contributions. Thirdly, our results suggest that female backers are less likely to contribute financially to this type of project. These results may help entrepreneurs and platforms to find a means of funding these projects.
  Keywords: crowdfunding; sustainability; biodiversity; gender; social media; altruism.
  DOI: 10.1504/IJESB.2026.10075802
   
  
• The digital transformation journey from an entrepreneurial start-up to a stock-listed firm  
  by Waheed Akbar Bhatti, Mario Glowik, Agnieszka Chwialkowska, Per Servais 
  Abstract: While existing literature sheds light on the internationalisation of entrepreneurial ventures at their inception, the transformation process of digital ventures remains under-researched. In this study, we investigate how successful digital ventures identify opportunities as they grow and expand globally, from small digital start-ups to stock-listed firms. Based on an in-depth case study analysis addressing a maturing digital start-up’s internationalisation process, this work conceptualises how international ventures identify and exploit internationalisation opportunities through entrepreneurial relationship learning and sensemaking. Our study expands the debate on the role of entrepreneurial dynamic capabilities in the internationalisation process of a maturing venture and developing its sustainable competitive advantage. We highlight entrepreneurial dynamic capabilities fundamental to the venture transformation journey from a small start-up to a stock-listed company. In particular, we reveal three distinct stages of the start-up development and transformation process and discuss the enabling role of the entrepreneur at each stage. As a result, we recommend future research directions and provide managerial implications for the successful international expansion of digital ventures from the start-ups’ inception to being listed on the stock exchange.
  Keywords: digital start-up transformation; opportunity recognition; international maturing ventures; entrepreneurial capabilities; SDG8; decent work and economic growth.
  DOI: 10.1504/IJESB.2026.10076473
   
  
• Empowering green entrepreneurship and management of sovereign green bonds using blockchain  
  by Parul Khatri, Pushpa Singh, Narendra Singh 
  Abstract: Sovereign green bonds (SGB) are crucial financial tools for supporting green entrepreneurship and environmentally sustainable projects. The traditional finance systems pose several challenges, like a lack of transparency, lengthy approval procedures, and delays, which have lost the trust and confidence of investors. The objective of this research is to explore the role of blockchain technology in streamlining the issuance and management of SGB in green entrepreneurship. The methodology involves developing smart contracts using ERC-20 tokens to signify bonds and the Keccak algorithm for signature authentication. Authorisation techniques for validators and regulators are embedded within the smart contracts to ensure a secure, transparent, and efficient process. The findings indicate major enhancements over conventional practices, including reduced approval times, continuous monitoring of bond-related activities, and enhanced auditability due to blockchain’s immutable ledger. These features minimise the risk of fraud and strengthen investor trust by ensuring transparency, efficiency, and security.
  Keywords: green entrepreneurship; sovereign green bonds; SGBs; blockchain.
  DOI: 10.1504/IJESB.2027.10076796
   
  
• Entrepreneurial competencies and business performance among women entrepreneurs in emerging economies: the mediating role of digital competency  
  by Ashish Mahajan , Jamila Hasnaoui, Rupal Chowdhary, Virginie Hachard, Marion Polge 
  Abstract: This study investigates the impact of entrepreneurial competencies on the business performance of women entrepreneurs in India, a rapidly developing economy. An indigenous measurement scale was created to evaluate various competencies specific to women entrepreneurs, including personal, interpersonal, business management, core entrepreneurial, analytical, and financial/legal dimensions. Furthermore, the study examined digital and networking competencies as mediating factors in this relationship. Data collected from a sample of 330 women entrepreneurs were subjected to structural equation modelling analysis. The findings indicate a significant positive correlation between entrepreneurial competencies and business performance, with digital competencies demonstrating a vital mediating effect, whereas networking competencies exhibited a marginal influence. These results highlight the critical role of digital skills and the necessity of customised competency development in improving business outcomes in resource-constrained contexts, thereby providing valuable implications for policymakers and training organisations.
  Keywords: women entrepreneurs; entrepreneurial competencies; business performance; digital competency; emerging economies.
  DOI: 10.1504/IJESB.2027.10076804
   
  
• Entrepreneurial green hydrogen small-scale ventures and their viability determinants: a PLS-SEM approach  
  by Samarth Sharma, Narendra Singh, Pallavi Sharda Garg, Archana Singh, Gopal Pathak 
  Abstract: The role of medium-scale industries in this area around the world is being appreciated as the large-scale industries have heavily invested in fossil fuel-based systems. Our study’s main objective is to empirically determine which are the most significant variables for a viable green hydrogen production facility so that it can be financed and become commercially viable. A mixed-method approach has been used to complete the study. Research design is based on exploratory and conclusive. Data has been filled in by the respondents only once, as it is a cross-sectional study and has been analysed using PLS-SEM. Respondents are the experts on the hydrogen-based projects. The findings suggest that operating expenditures significantly increase Market Demand Prices, meaning that higher operating costs are linked to higher market prices. It is very crucial for the medium-scale industry to maintain as much efficiency as possible to control the operating expenditure.
  Keywords: green hydrogen; electrolysis; national hydrogen mission; decarbonisation; energy storage; operational expenditure; capital expenditure.
  DOI: 10.1504/IJESB.2027.10076961
   
  
• Motivating students’ entrepreneurial intention in Vietnam: exploring the roles of entrepreneurship competition experiences and self-efficacy  
  by Thao U.P. Pham, Anh D. Thai, Nhan Q. Tran, Nghi L. D. Ly, Anh-Tho Thi Nguyen 
  Abstract: Entrepreneurship plays a key role in Vietnam’s youth-led development, while entrepreneurship competitions continue to scale up alongside growing investment from government, the private sector, and universities in the start-up ecosystem. This study examines determinants of Vietnamese university students’ start-up intentions, focusing on entrepreneurship competition experiences and self-efficacy. Using a mono-quantitative design, it integrates theory of planned behaviour and social learning theory and analyses online and offline survey data via structural equation modelling. Results show that competition experiences and self-efficacy significantly strengthen entrepreneurial intentions, with self-efficacy mediating the effect of competition experiences on start-up intentions. The findings also reveal a strong linkage between university support and students’ competition experiences, suggesting that experiential engagement, beyond knowledge and skills, plays a distinctive role in shaping intentions. The study also offers practical implications for stakeholders seeking to build a sustainable entrepreneurial culture in Vietnam and recommends future research on additional contextual and individual factors.
  Keywords: entrepreneurial intention; entrepreneurship competition experience; self-efficacy; university support; entrepreneurial education.
  DOI: 10.1504/IJESB.2027.10076962
   
  
• Embedded agency for legitimacy and resilience in immigrant entrepreneurship  
  by Soumodip Sarkar, Charbel Salloum, Hajer Jarrar, Marion Polge 
  Abstract: This study explores how immigrant restaurant entrepreneurs in Portugal build legitimacy and resilience within institutional and social constraints. Drawing on 53 in-depth interviews, we develop an Intersectional Embeddedness Framework linking symbolic, institutional, and relational dimensions of immigrant entrepreneurship. The analysis reveals that entrepreneurs strategically balance authenticity and adaptation to achieve symbolic legitimacy, navigate bureaucratic opacity through pragmatic compliance, and draw on family and community networks to sustain their ventures. Gender, ethnicity, and migration status intersect to shape access to legitimacy, institutional fluency, and social capital. The study advances the concept of Intersectional Embeddedness Theory, integrating mixed embeddedness and intersectionality to explain how identity positions mediate entrepreneurial agency. Findings illuminate how intersectional differences create distinct pathways to resilience and legitimacy, offering implications for inclusive policy design that recognises diverse immigrant experiences and fosters equitable entrepreneurial ecosystems.
  Keywords: immigrant entrepreneurship; intersectionality; legitimacy; resilience; Portugal; institutional work.
  DOI: 10.1504/IJESB.2027.10077339
   
  
• From grit to growth: linking women entrepreneurs’ psychological capital, social empowerment and performance across supportive and fragile contexts  
  by Mugaahed Abdu Kaid Saleh, Harold Andrew Patrick, Abdulrahman Naef Farhan, Chaitra S. Thimmanna, Mamatha S. Moodli 
  Abstract: This study examines the interplay of psychological capital (PsyCap) and social empowerment (SE) in driving entrepreneurial performance satisfaction (EPS) among women entrepreneurs in contrasting institutional contexts: India’s supportive entrepreneurial ecosystem and Yemen’s fragile, conflict-affected environment. The study adopted a cross-sectional design and purposive sampling and standardised scales based on a theoretical framework integrating Psychological Capital Theory (PCT) and institutional theory (IT). The data were collected from 233 women entrepreneurs (144 from India, 89 from Yemen) and were analysed using patrial least square structural equation modelling (PLS-SEM). The findings reveal that PsyCap significantly enhances SE and EPS, with SE as a mediator in both contexts. Institutional context is a significant moderator while entrepreneurial willingness is not a significant moderator, which highlights the role of external constraints. The findings inform policy reforms regarding the inclusion of a comprehensive approach that is culture- and context- sensitive for empowering women entrepreneurs in economic participation.
  Keywords: psychological capital; entrepreneurial success; social empowerment; SE; institutional context; women’s entrepreneurship.
  DOI: 10.1504/IJESB.2027.10077340
   
  
• Indigenous women entrepreneurship: mapping research trends and theoretical insights  
  by Ratikant Bhaskar  
  Abstract: This study conducts a bibliometric, content, and systematic review of 146 publications on indigenous women entrepreneurship. The analysis reveals fluctuating research trends, with recent years showing structured growth. However, studies remain inconsistent compared to the broader women entrepreneurship field due to socio-economic and cultural constraints. Citation and keyword analysis identify key themes such as resilience, identity formation, financial empowerment, and digital adaptation. Theoretical contributions stem from frameworks like Hofstede’s cultural dimensions, gender role theory, and social capital theory, offering insights into entrepreneurial challenges. Leading scholars and influential studies shape discourse on structural barriers and career self-efficacy. Despite notable contributions from the United States, India, and Canada, regional disparities persist. Future research should explore financial inclusion, digital transformation, and policy interventions to bridge these gaps. An interdisciplinary approach integrating finance, technology, and gender studies is crucial to fostering inclusive and sustainable indigenous women entrepreneurship globally.
  Keywords: indigenous women; entrepreneurship; systematic literature review; bibliometric analysis.
  DOI: 10.1504/IJESB.2027.10077494
   
  
• Challenges unveiled: women entrepreneurs in Bangladesh amidst COVID-19 upheaval  
  by Anita Jahid, Amlan Haque 
  Abstract: The COVID-19 pandemic has highlighted critical gender-specific challenges for women entrepreneurs in Bangladesh, particularly those linked to microfinance institutions. This paper explores the unique impact of the pandemic on women-owned micro-enterprises, examining how social and economic crises have intensified existing barriers and introduced new obstacles. Using a qualitative approach, this study reviews current literature with a focus on the experiences of women entrepreneurs during the upheaval caused by COVID-19. Findings identify key challenges faced by women entrepreneurs, including financial strain, limited access to resources, increased domestic burdens, and mental health issues. Findings reveal that digital strategies and community support are significant for business resilience. This analysis provides insights into the pandemic’s impact on Bangladeshi women entrepreneurs and proposes actionable recommendations to address these challenges. These recommendations can inform policymakers, NGOs, and financial institutions aiming to strengthen support frameworks for women-led enterprises in Bangladesh and other developing economies.
  Keywords: COVID-19 pandemic; microfinance institutions; MFIs; women entrepreneurs; small business; Bangladesh.
  DOI: 10.1504/IJESB.2027.10077701
   
  
• Digital transformation and MSMEs: a thematic study of India’s textile sector  
  by Neha Makkar, Nudrat Moini Rahman 
  Abstract: There is an uneven adoption of digital transformation in the textile industry, specifically among micro, small, and medium enterprises (MSMEs) in a developing nation like India. The current research aims to understand present state of digital transformation across textile MSMEs in the country through a qualitative research approach with thematic analysis. The findings highlighted the presence of digital tools like ERP, CRM, online sales in few enterprises while many still unaware. Many of them did not want to adopt digital tools due to other factors like scale of operation, cost, etc. Many MSMEs are not aware of digital technologies, or they are simply not interested and would not like to shift from the status quo. Knowledge of the current digital technologies used by textile MSMEs in India and the factors influencing their use will help policymakers, consultancies and MSME owners in planning as well as implementing digital transformation initiatives.
  Keywords: digital transformation; textile industry; micro; small; and medium enterprises; MSMEs; current status; qualitative study.
  DOI: 10.1504/IJESB.2027.10077705
   
  
• Introducing a dynamic model for dairy product exports by small and medium-sized enterprises in Iran  
  by Delshad Hoseini, Mahmoud Dehghan Nayeri, Ali Rajabzadeh Ghatari 
  Abstract: Small and medium-sized enterprises in Iran’s dairy industry face significant challenges exporting to Europe, including product perishability, regulatory compliance, and market fluctuations, despite favourable exchange rates. Using an exploratory system dynamics model built with Vensim PLE and insights from ten industry experts, this study evaluates export strategies over ten years. The baseline model shows exports reaching 2.04 million EUR but declining profitability (490 EUR/month loss) due to high costs, such as 10,200 EUR/month transportation, leading to 58,800 EUR cumulative losses and reduced product quality and R&D capacity. A refined model incorporating expert recommendations, including patent registration (36-month processing), competitor contracts, customised production, and outsourced marketing, yields 1.93 million EUR in exports and 462,000 EUR in profits, achieving sustainability. Validated through sensitivity analysis and policy evaluations, the model offers a strategic framework for SMEs, policymakers, and stakeholders, emphasising intellectual property, partnerships, and innovation for successful European market entry.
  Keywords: system dynamics; dairy exports; Iranian SMEs; currency shocks; small and medium-sized enterprises; SMEs; Iran.
  DOI: 10.1504/IJESB.2027.10077885
   
  
• Bridging the gap: entrepreneurial resilience as a mediator between digital innovation and small business sustainability  
  by Pawan Kumar, Shashi Kant, Hajer Jarrar, Virginie Hachard 
  Abstract: With the transformation of the digital economy, increasing numbers of small businesses employ digital transformation strategies to ensure that they can survive and sustain themselves over a long period. This study examines the impact of the digital transformation on the long-term success of small businesses through the lens of their digital abilities and their ability to change as the conditions change. It also examines what role entrepreneurial resilience can play here. Based on the data of 280 businesses in urban and 175 businesses in rural areas, the hierarchical regression and factor analyses reveal high levels of entrepreneurial resilience significantly enhancing financial performance and operational efficiency and bringing additional explanatory power to digital capability and adaptability. Experimental outcomes also demonstrate that the digitalisation projects initiated by entrepreneurship are more resistant when compared to projects initiated by consultants or are simply ignored, with statistically sound differences between the two. All of these results indicate that entrepreneurial resilience is one critical psychological aspect contributing to the long-term success of the company caused by the digital transformation techniques. This entails both theoretical and practical implications for the small business executives working in unpredictable conditions.
  Keywords: entrepreneurial resilience; digital innovation; SME sustainability; process automation.
  DOI: 10.1504/IJESB.2027.10077970
   
  
• Artificial intelligence in controlled environment agriculture: advancing food sovereignty and zero hunger  
  by Sonsoles Jiménez Pérez  
  Abstract: Artificial intelligence (AI) is transforming controlled environment agriculture (CEA), offering scalable pathways to resilient food production amid climate volatility, water scarcity, and urbanisation. This article compares four AI-enabled CEA models — state-led (Singapore), corporate-led (AeroFarms), state-scaled (China), and an SME-led micro-greens venture (MyGreens) — across five dimensions: resource efficiency, technological integration, socio-economic inclusion, governance, and context fit. Using a multiple-case design with triangulated sources, it synthesises cross-case patterns and identifies the conditions under which AI-CEA advances sustainable intensification, food sovereignty, and glocalisation. Findings show that performance depends jointly on energy mix and governance: renewable integration and modular, open architectures magnify environmental and inclusion gains; closed, energy-intensive configurations erode them. SMEs and entrepreneurial ventures can leverage modular AI-CEA, inclusive finance, and capability-building to convert technological gains into resilient, locally embedded business models.
  Keywords: artificial intelligence; AI; controlled environment agriculture; CEA; vertical farming; food sovereignty; zero hunger; SDG 2; glocalisation; sustainable intensification; small and medium-sized enterprises; SMEs; entrepreneurship; AI-driven food systems; urban agriculture; ethics.
  DOI: 10.1504/IJESB.2027.10078054
   
  
• How returning entrepreneurs’ entrepreneurial orientation drives farmers’ wage income and reduces inequality: micro-evidence from China  
  by Chenyun Lu, Yi Wang, Lei Liu 
  Abstract: Returning entrepreneurship is an important way of non-agricultural employment in rural areas. This study examines how returning entrepreneurs’ individual entrepreneurial orientation (EO) affects farmers’ wage income, using 2019 and 2022 survey data on Chinese returning entrepreneurial enterprises. The regression shows this entrepreneurial orientation increases wages for farmers employed by these enterprises and narrows their wage gap, through strengthening entrepreneurial motivation, expanding investment, improving operational performance, and creating jobs. Heterogeneity analysis finds this impact is more significant in the primary industry, the mid- and low-end tertiary industry, and central and western China. The income decomposition reveals differences in regional return rates explain over 50% of the income gaps between western China and other regions. Notably, entrepreneurial orientation widens income gaps between regions. Recommendations include enhancing support for returning entrepreneurship and fostering entrepreneurial orientation. This study provides insights for poverty alleviation and small and medium-sized enterprise (SME) development, particularly for developing economies.
  Keywords: returning entrepreneurship; entrepreneurial orientation; farmers’ wage income; income inequality; China.
  DOI: 10.1504/IJESB.2027.10078096
   
  
• Leveraging social media vetting in small business for talent acquisition: a qualitative study  
  by Jaya Gupta 
  Abstract: Digitalisation has transformed many sectors, and personnel hiring or the talent acquisition space is no exception. Social media vetting practices are witnessing an exponential increase in their application across industries. This study aims to examine and enhance the processes involved in social media vetting, which recruiters use to gather and integrate knowledge on job applicants. The study is based on a qualitative research design. The data was collected from 59 HR professionals engaged in social media vetting candidate profiles during talent acquisition. Analysing the data collected from HR professionals through structured open-ended essays, we sought to clarify the scope and granularities of social media vetting from a knowledge management perspective. The study contributes to the literature by articulating how digital footprints are leveraged across talent acquisition stages, offering practical insights for developing standardised social media vetting guidelines for organisations.
  Keywords: small business; social media vetting; talent acquisition; digital footprints; qualitative design.
  DOI: 10.1504/IJESB.2027.10078309
   
  
• Artificial intelligence and management practices as a collaborator for entrepreneurs in small business  
  by Rashi Rathore, Richa Srivastava, Muskan Khan 
  Abstract: This research offers a bibliometric analysis of AI-based HRM practices, investigating the key trends, prolific contributors, clusters, and others using the Scopus database (2013-2025) through VOSviewer for data mapping. The findings suggest that AI will be affectively functional in the HR functions like recruitment, training, performance management, and engagement, but also reveal serious issues related to ethical governance, data privacy, and algorithmic fairness. By identifying research gaps, this study provides strategic insights into AI’s evolving role in HRM and outlines directions for future research. This study is the first to combine the aspects of technological sustainability in a bibliometric study of AI in HRM. This study provides a systematic, empirical understanding of the evolution of the field of AI in HRM with TCCM framework and scholarly references to support researchers and practitioners in examining how AI-enabled HRM aligns with the sustainable and ethical development of technology.
  Keywords: artificial intelligence; entrepreneurship; small business; HRM practices; bibliometric analysis; TCCM framework.
  DOI: 10.1504/IJESB.2027.10078310
   
  
• Causal association of entrepreneurship ecosystem in fintech using structural equation modelling  
  by Vaijayanti Chuttani, Sweta Goel 
  Abstract: The purpose of the study is to analyze the impact of Fintech in entrepreneurship ecosystem on financial inclusion with financial self-efficacy as mediator using Structural Equation Modeling (SEM). This study employs a quantitative, cross-sectional, explanatory research design to examine effects of variables. A self-administered questionnaire was used for data collection from respondents with access to at least one formal financial service. The focus is on understanding how dynamic financial environments shape individual capability. Financial self-efficacy serves as a significant mediating mechanism through which financial literacy influences financial inclusion. From a theoretical standpoint, this finding is well aligned with social cognitive theory, which posits that knowledge affects behaviour indirectly by shaping individuals’ beliefs in their own capabilities. Institutions can play a proactive role by simplifying product design, improving customer communication, and offering user-friendly digital interfaces that build trust and confidence among customers.
  Keywords: fintech; entrepreneurial ecosystem; financial self-efficacy.
  DOI: 10.1504/IJESB.2027.10078311
   
  
• Entrepreneurship in Ayodhya: intersections of traditional livelihoods and modern small business development  
  by Samdish Sharma, Manas Ranjan Behera 
  Abstract: This study investigates the maintenance and evolution of traditional livelihoods in Ayodhya through the lens of pilgrimage driven urban transformation. The research was conducted between October 2024 and March 2025 through 41 semi-structured interviews, 60 hours of participant observation, and 71 geo-tagged photographs of corridor-based economic activities. The study finds that there is incremental recalibration rather than displacement in the face of pilgrimage driven changes in Ayodhya. There is the ability to adapt to the changes through the diversification of retail activities, expansion of transport services, and the participation of women in semi formal services.
  Keywords: entrepreneurship; traditional livelihoods; small-business development; informal economy; pilgrimage City; Ayodhya.
  DOI: 10.1504/IJESB.2027.10078313
   
  
• Yay, nay, or another day for entrepreneurship: analysing varying entrepreneurial intentions among Bahraini women university students  
  by Debashish Sengupta, Charbel M. El Khoury 
  Abstract: This research critically analyses the varying entrepreneurial intentions of women university business students in Bahrain using the Theory of Planned Behaviour (TPB) and Self-Determination Theory (SDT). Through a qualitative integration of TPB and SDT, the research explains the reasons behind the existence of the three different entrepreneurial intentions, doers, procrastinators and abstainers, among Bahraini women business students who experience similar environments. The study further extends understanding of how the different motivational processes and perceived barriers shape these intention types. Using narrative enquiry and thematic analysis of 37 semi-structured interviews, the study aligns the motivations of participants with SDT’s internalisation process. It demonstrates how these motivational profiles are linked to TPB constructs, suggesting specific contextual implications for policymakers and higher education.
  Keywords: entrepreneurial intentions; motivation; narrative inquiry; women’s entrepreneurship; self-determination theory; theory of planned behaviour.
  DOI: 10.1504/IJESB.2027.10078314
   
  
• How institutions shape agency in migrant entrepreneurship  
  by Renata Casado, Roberto Pessoa De Queiroz Falcão, Laura Salloum, Eduardo Picanco Cruz, Charbel Salloum 
  Abstract: Drawing on a mixed-embeddedness lens, this study examines the rise of Brazilian businesses in Western Australia and how agency and institutional context shape ethnic entrepreneurship before and during COVID-19. We employ a qualitative longitudinal design: 23 in-depth interviews in 2019 and online follow-ups with 13 participants in March 2020 thematically coded in NVivo and triangulated with secondary sources. Entrepreneurs engage in practical-evaluative sensemaking that blends prior experience, resources and situational cues; migration policy emerges as a key enabler, while institutional constraints and market shifts demand adaptive strategies. During the pandemic, participants reconfigured business models and leveraged community networks to sustain activity. We extend mixed-embeddedness by integrating agency and propose a dynamic model of entrepreneur-institution interaction in an under-researched regional and ethnic setting. Findings are context-specific; future work should test other regions and examine personality traits. Results inform policymakers and founders on the centrality of migration policy and adaptive capability for inclusion.
  Keywords: migrant entrepreneurship; institutional theory; mixed embeddedness; entrepreneurial agency.
  DOI: 10.1504/IJESB.2027.10078316
   
  
• Political connections and entrepreneurial investment  
  by Tania Kallab, Charbel Salloum, Christophe Bernard, Jean-Michel Sahut 
  Abstract: Entrepreneurial activity can endure; even intensify, when formal institutions deteriorate. This study examines how political connections shape Lebanese SMEs’ reinvestment under weak institutional conditions. Using survey data from 101 firms and binary logistic regression with robust standard errors, we test whether political ties buffer the dampening effect of deterioration on investment. Results show deterioration does not uniformly suppress reinvestment: entrepreneurs with political connections are 19.4% more likely to reinvest, treating turbulence as a strategic opening. Those without such ties perceive a higher risk and scale back. These findings advance a politically contingent view of institutional theory in entrepreneurship, clarifying how political capital reframes opportunity recognition and risk assessment in fragile environments. The contribution shifts attention from firm formation to reinvestment behaviour and identifies political embeddedness as a moderating mechanism based on micro-level evidence. Implications for policy and ecosystems include expanding non-political channels for information, finance, and protection to sustain productive investment without entrenching inequality.
  Keywords: institutional deterioration; entrepreneurial investment; political connections; Lebanese economy; institutional voids.
  DOI: 10.1504/IJESB.2027.10078319
   
  
• Determinants of agricultural entrepreneurial settlement: a PLS-SEM study of RSETI trainees in Karnataka, India  
  by Amrutha Sasidharan, Vihas Vijay 
  Abstract: In India, rural communities still have to struggle greatly with unemployment and the lack of livelihoods. To deal with this, Rural Self Employment Training Institutes were made to foster self-employment in the rural youth by training them on entrepreneurship. This paper discusses the determinants that play the most important role in agricultural entrepreneurial settlement by RSETI trainees in Karnataka, India. To be more specific, it studies the effects of the training effectiveness, training period, access to the bank finance, business management skills, personality types, climate influences, and other situational factors on the entrepreneurial settlement. A small sample size of 279 RSETI trainees was used to collect primary data by completing a structured questionnaire and analysed by PLS-SEM. The findings show that the most significant predictor of settlement process is the training effectiveness, and the training duration greatly increases the effectiveness of training.
  Keywords: RSETI; rural entrepreneurship; structural equation modelling; SEM; entrepreneurial settlement; skill development; agricultural entrepreneurship; India.
  DOI: 10.1504/IJESB.2027.10078632
   
  
• Women entrepreneurship and firm performance: effect of critical factors on entrepreneurial orientation and entrepreneurial satisfaction  
  by Brij Mohan Singh, Pradeep Kumar Srivastava, Muskan Khan, Sharad Srivastava, Gyanendra Bahadur Singh Johri 
  Abstract: The paper investigates how social, psychological, financial and resource-status factors influence the entrepreneurial orientation and entrepreneurial satisfaction and how such satisfaction in turn impacts on firm performance. The survey concentrated on a set of cluster, purposive, and snowball sampling methods to collect data, which was in the form of a questionnaire. Exploratory and confirmatory factor analysis was performed and structural equation modelling (SEM) in testing cause and effect relationships. The findings showed that five among the nine hypothesised relationships were significant and the rest four were significant to some extent. On the whole, the results show that social, psychological, financial, and resources have a strong impact on the entrepreneurial orientation and satisfaction, and entrepreneurial satisfaction benefits performance of the firm. This research is important to women entrepreneurs, their family, and government and non-governmental bodies as it presents the important factors that determine the success of women.
  Keywords: women entrepreneurship; entrepreneurial orientation; entrepreneurial satisfaction; firm performance; exploratory factor analysis; EFA; confirmatory factor analysis; CFA.
  DOI: 10.1504/IJESB.2027.10078706
   
  
• Study and analysis of digital marketing and e-commerce strategies of wineries in three Catalan designations of origin: case for discussion and debate  
  by Gemma Molleví, Jordi Mundet 
  Abstract: The main purpose of this article is to present a diagnosis of the situation of companies in the wine sector in relation to electronic commerce and the digital marketing strategies followed by wineries in three Catalan protected designations of origin (DO). And, from here, propose a case study to be carried out in the classroom in certain subjects of the Marketing Degree with the aim of discussing some doubts or challenges left open by the work carried out.
  Keywords: wine sector; electronic commerce; social networks; education; designations of origin; Catalonia.
  DOI: 10.1504/IJESB.2027.10078859
   
  
• When numbers go green: behavioural sparks for SMEs’ sustainability reporting  
  by Rajni Bala, Charbel Salloum, Muskaan Arora, Jean-Michel Sahut, Sandeep Singh 
  Abstract: This study investigates how environmental sensitivity, subjective norms, perceived behavioural control, sustainable development goals, and top-management support affect chartered accountants’ intentions to engage in sustainable accounting and reporting within IT SMEs. A cross-sectional survey of 259 chartered accountants from northern India was analysed using partial least squares structural equation modelling with 5,000 bootstrap resamples to evaluate direct, mediating, and moderating effects. The findings reveal that environmental sensitivity and top-management support significantly encourage sustainable accounting and reporting, with environmental sensitivity having the most substantial impact. Subjective norms perceived behavioural control, and sustainable development goals indirectly influence sustainable accounting and reporting by boosting environmental sensitivity, while top-management support strengthens this effect. The study proposes an integrated TPB-stakeholder-institutional framework that advances sustainability research in service-oriented emerging markets. Practically, managers should foster environmental sensitivity through training and resource allocation, and regulators should incentivise leadership-backed assurance procedures to promote credible sustainability reporting.
  Keywords: sustainable accounting; environmental sensitivity; perceived behaviour control; sustainable development goals.
  DOI: 10.1504/IJESB.2027.10078860
   
  
• Digital finance, financial literacy, and SME performance  
  by Renato Pereira, Naguib Omar, Summeya Gafur, Carina Momed 
  Abstract: This study tests whether its adoption improves the performance of UK-listed SMEs, while accounting for financial literacy, financial constraints, and GDP growth. Secondary data from Refinitiv Eikon covers 224 firms from 2022 to 2024, and multivariate regression links adoption with profitability and operational efficiency. The results indicate stronger performance among adopters because digital tools lower transaction costs, speed settlement, and broaden access to finance. Financial literacy enhances gains because informed managers select suitable platforms and use analytics to manage liquidity. Financial constraints shape the pathway: limited credit can slow digital investment, while digital use can also reduce financing frictions through better records and greater visibility. In addition, higher GDP growth reinforces the relationship and suggests that supportive macro conditions raise the payoff from adoption. The work extends transaction cost economics to a digital finance context and shows how literacy and constraints operate as mediators and moderators in a mature economy. Generalisation is limited by the UK sample and the short period. Policymakers and SME leaders should pair adoption support with financial capability programs. Greater uptake can advance inclusion and contribute to broader economic development.
  Keywords: digital finance; SMEs; financial performance; transaction cost economics; TCEs.
  DOI: 10.1504/IJESB.2027.10079033
   
  
• Exploring bully traits across private and public educational entrepreneurs  
  by Divya Sharma, Rajnish K. Misra, Anjali Dubey, Veenu Sharma 
  Abstract: Workplace bullying is considered to be a bigger problem impacting individual and organisational performance. The purpose of this research is to find out the bully’s characteristics, focusing on the Indian B-School. The study emphasises the significant differential characteristics of a bully in the public and private sectors and was conducted with the help of a significant test (T-Test). A checklist has been proposed, and it has been found that both groups perceived 7 bullying characteristics (extrovert, incompetence, job insecurity, feeling incompetent, attention-seeking, frustration, and non-appreciation) as differentially significant. This is considered to be the foremost study in India which is focusing on both the public and private B-School. If bullying or bullies are not managed well, then it will affect the employees and overall organisational performance, thus a healthy or happy workforce will not be achievable. The findings and future research direction are discussed and suggested.
  Keywords: workplace bullying; perpetrator’s characteristics; bully; dispositional factors; educational sector; B-School.
  DOI: 10.1504/IJESB.2027.10079020
   
  
• Threats, responses, and insurance innovations: evidence from micro-insurance of African SMEs using the protection motivation theory  
  by Ilias Vlachos, Peter Muchiri Mwai 
  Abstract: Micro-insurance innovations can protect small and medium enterprises (SMEs) in emerging countries, including those in Africa, from various threats. However, micro-insurance is overlooked in the SMEs literature. Drawing on the protection motivation theory, this study examines how micro-insurance innovations can help SMEs in Botswana address complex and escalating threats, particularly in the uncertain post-pandemic environment. This study employs a large-scale survey and hierarchical group regression analysis to investigate the effects of coping mechanisms (self-efficacy, response efficacy, response value) and threat characteristics (severity, vulnerability) on SME performance, moderated by governance support as suggested by institutional theory. It develops a novel typology of innovation responses (freeze, flight, fight). Micro-insurance can effectively protect SMEs from the severity and vulnerability of threats. However, the analysis revealed an overconfidence in SMEs’ self-efficacy over insurers’ efficacy and insurance value. Each response type (freeze, fight, and flight) impacts SME performance differently. These findings support SMEs’ customisation of insurance innovation and have significant theoretical, micro, meso, and macro-level managerial implications.
  Keywords: micro-insurance; small and medium enterprises; SMEs; protection motivation theory; Africa.
  DOI: 10.1504/IJESB.2027.10079067
   
  
• Artificial intelligence and employee mental well-being in information technology entrepreneurship: the roles of workaholism and inclusive leadership in small business  
  by Rashi Rathore, Richa Srivastava, Muskan Khan 
  Abstract: Using job demands-resources theory, the researcher examined the relationship between AI-based flexible work arrangements and employee mental well-being, with workaholism as a mediator and inclusive leadership as a moderator in IT entrepreneurship. The methodology included two-wave questionnaire data gathered from employees within an IT/ITES type of organisation. The results were analysed using PLS-SEM and revealed that AI-driven flexibility significantly affected both workaholism and employee mental well-being; workaholism, in turn, acted as a mediator between AI-based flexibility and employee mental well-being, and developed out of excessive amounts of work. There was also a significant moderating effect of inclusive leadership on the relationship between AI and workaholism, which suggested that inclusive leadership can help to ease the negative consequences associated with AI-based flexibility. The effects of AI-enabled flexibility have both positive and negative impacts, so this study emphasises that human-centred leaders should support employees’ sustainability within digital workplaces.
  Keywords: artificial intelligence; employee mental well-being; workaholism; inclusive leadership; entrepreneurship.
  DOI: 10.1504/IJESB.2027.10079263
   
  
• Issues and challenges for entrepreneurial innovations: qualitative study of entrepreneurs’ perspectives  
  by Meenakshi Tyagi, Sapna Yadav, Tanushree Sanwal, Sandhya Avasthi, Akhil Agnihotri 
  Abstract: This research examines the barriers to accessing finance from the perspective of entrepreneurs operating in their respective entrepreneurial ecosystems, drawing on the experiences of entrepreneurs who have operated within these contexts. This study uses semi-structured interviews to gather data on the entrepreneurs views about financial institutions, ecosystem support mechanisms and the constraints imposed by funding sources. Analysis of the data identifies four common barriers to accessing financing for a startup: 1) collateral-based lending requirements; 2) information asymmetry; 3) institutions that are risk-averse; 4) ineffective and fragmented support from the entrepreneurial ecosystem. This study shows that the barriers to entrepreneurs accessing finance are systemic and structural rather than simply being individual limitations. By incorporating the responses from the sample population, this research adds to the existing body of literature on both entrepreneurship finance and financial inclusion.
  Keywords: financial access; financial inclusion; startups; entrepreneurial ecosystems; qualitative research; SME finance.
  DOI: 10.1504/IJESB.2027.10079264
   
  
• Business creators from immigrant background in Wallonia: assessment of resources and difficulties in a market subject to systemic barriers  
  by Honorine Kuete Fomekong  
  Abstract: This paper focuses on the resources and challenges faced by entrepreneurs from non-EU immigrant backgrounds. Additionally, it aims to outline the specific hurdles these entrepreneurs and self-employed workers experience in Wallonia. The practical goal is to explore potential pathways to entrepreneurship for migrants, enhancing their access to business start-ups, thereby contributing to the regional economy and promoting a more inclusive, resilient job market. According to the main findings, the decision to pursue entrepreneurship among most respondents is largely driven by the difficulties encountered in the local job market, especially for degree holders. The primary challenges faced by migrant entrepreneurs include administrative and financial issues. Their concerns reveal various forms of racism, including institutional, doctrinal, interpersonal, and abuse of authority office.
  Keywords: business creators; migrant; immigrant entrepreneurship; systemic barriers.
  DOI: 10.1504/IJESB.2027.10079305
   
  
• Assessment of FinTech entrepreneurial ecosystem in advancing financial inclusion  
  by Vaijayanti Chuttani, Sweta Goel 
  Abstract: The growth of FinTech lending has the potential to enhance borrower screening or monitoring and boosting financial inclusion. It is the availability of affordable financial products and services to serve the requirements of both individuals and organisations in an effective and efficient manner. The research study examines the assessment of fintech effects in advancing financial inclusion. The study employs SEM models for analysis of behavioural intention and its influencing factors for adopting Fintech services. A structured survey questionnaire was used to measure the behavioural constructs and the study population is chosen with purposive sampling technique and analysed using Structural Equation Model (SEM) model. SEM demonstrates how behavioural intention and actual FinTech platform usage are significantly influenced by performance expectancy, facilitating conditions, and habit. The results discovered that behavioural influence to adopt FinTech services and factors which affect FinTech adoption has a strong influence on FinTech usage in financial inclusion.
  Keywords: FinTech; financial inclusion; adoption; behavioural intention.
  DOI: 10.1504/IJESB.2027.10079306
   
  
• Digital entrepreneurial intention: a systematic review of the literature  
  by Hiba Iboualiten, Rhita Sabri 
  Abstract: Digital entrepreneurship contributes to socioeconomic development and provides a more effective resolution of anomalies compared to traditional approaches. However, while the literature has dealt with entrepreneurial intentions in the traditional context, little is known about its digital counterpart. This study aims to identify the main factors that significantly influence digital entrepreneurial intentions and to pinpoint the theoretical approaches that are under-investigated in this field. A systematic literature review was conducted on 43 articles from three databases recognised by the research community: Scopus, Web of Science, and Google Scholar, and published between 2014 and 2024 (until December). The analysis enabled us to identify seven main factor themes: cognitive, personality, environmental, social, educational, situational, and demographic, with a significant impact on digital entrepreneurial intentions. Research indicates that this is an emerging field of study, primarily influenced by cognitive factors, notably the TPB model, with a focus on specific subject groups and a limited geographical scope. Therefore, calling for investigations should be broadened to include other regions and diversified samples. The results of the study open up promising emerging research avenues and provide practical recommendations.
  Keywords: digital entrepreneurship; digital entrepreneurial intention; systematic review; antecedents.
  DOI: 10.1504/IJESB.2027.10079934
   
  
• Entrepreneurial dissonance in business process technology adoption  
  by M. Karthik Ram , Jean-François Verdie , Nghia Chi Nguyen, S. Selvabaskar  
  Abstract: This study examines post-adoption frictions in the use of digital payment technology among micro-entrepreneurs in India’s informal sector. Drawing on merchant-generated app reviews, it analyses how users express dissatisfaction, emotional responses, and trust-related concerns regarding digital payment technologies. More than 200,000 reviews were scraped from the Google Play Store and Apple Store, and 27,835 reviews were retained after preprocessing. Using sentiment analysis, emotion classification, and supervised machine-learning models, the study identifies recurring service frictions and compares the performance of support vector machine, naïve Bayes and random forest classifiers. The findings show that anger, disgust, and trust-related concerns are central to merchants’ post-adoption evaluations, with recurring issues related to settlement delays, technical failures, poor customer support, unclear charges and fraud-related anxieties. The study contributes a merchant-centred, review-based perspective on technology use in informal sector entrepreneurship. It offers implications for transparency, complaint handling, support quality, and trust-building in digital payment platforms.
  Keywords: entrepreneurship; cognitive dissonance; digital payments; business process technology adoption.
  DOI: 10.1504/IJESB.2027.10080244
   
  
• Institutional embeddedness and Ghanaian returnee entrepreneurs: a cultural-cognitive perspective  
  by Nana Araba Wilson, Amon Simba, Yan Wang 
  Abstract: Research concerning returnee entrepreneurship in sub-Saharan African countries is currently underdeveloped. Accordingly, this study examines how returnee entrepreneurs reestablish their entrepreneurial ventures upon returning to a complex institutional environment. Based on institutional and cultural-cognitive dimensions, it explores the reintegration processes underpinning returnee entrepreneurship in Ghana. Drawing on the experiences of 16 purposively selected returnee entrepreneurs, we demonstrate how their reintegration processes are shaped by localised cognitive, cultural, and social systems, deeply intertwined with religion, spirituality, pro-social acts, and community obligations. This study advances the understanding of returnee entrepreneurship by foregrounding the cultural-cognitive interface of institutional embeddedness within a developing world context. The originality of this study resides in its depiction of returnee entrepreneurs' actions as being driven not merely by institutional constraints, but significantly by home country cultural and social norms and values. Our theorisations regarding the complex relationship between traditional institutions and returnee entrepreneurship processes have implications for academic research, policy institutions, and entrepreneurial practice.
  Keywords: returnee entrepreneurs; Ghana; institutional embeddedness; cultural-cognitive.
  DOI: 10.1504/IJESB.2027.10080245
   
  
• An empirical investigation of problems and challenges to women entrepreneurship in the state of Sikkim using the DEMATEL approach  
  by Soni Subedi, Tanya Nagpal, Sunil Kumar 
  Abstract: The importance of women entrepreneurs is increasing due to research demonstrating how vital it is for new business creation and economic development. This study aims to examine and rank the issues and difficulties that women entrepreneurs in the Indian state of Sikkim experience. This study employed a quantitative research design, with data being collected from 36 female entrepreneurs in the state of Sikkim through self-structured questionnaires. The information above was gathered to determine the problems and challenges that Sikkim's women entrepreneurs confront. The DEMATEL technique is used as a decision-making technique, where factors are taken into account to determine their order of importance. This technique helps to identify cause-and-effect relationships and to construct interrelations between the criteria. The analysis revealed 17 identified barriers, out of which six were causal. This indicates that these barriers not only exist independently but also contribute to the emergence of other challenges. Comprehending the underlying obstacles encountered by women entrepreneurs has the potential to develop women's economic empowerment and promote gender parity in the business industry.
  Keywords: women entrepreneurship; barriers; gender; DEMATEL.
  DOI: 10.1504/IJESB.2027.10080395
   
  
• Relationship of religious belief with entrepreneurial intention: examining the role of entrepreneurial value and family support  
  by Ayno Wako Jenga, Muskan Arora, Rajinder Kaur, Rabia Narang, Sandeep Singh 
  Abstract: The aim of this study was to examine the effect of religious belief on students’ entrepreneurial intentions among a selected group of university students in Punjab, India. The paper also examined whether entrepreneurial value mediates the relationship between religious belief and entrepreneurial intention, as well as the moderating effect of family support on the association between religious thought and students entrepreneurial intentions. The data was gathered from 316 business management students of three selected universities in Punjab state, India. Confirmatory factor analysis was used to verify the reliability and validity of the measurement. Structural equation modelling was applied to test the hypothesis. Three different results were obtained from the study. First, religious belief does not directly affect entrepreneurial intention in the mediation model. Second, entrepreneurial value significantly mediates the relationship between religious thought and entrepreneurial intention. Third, family support positively and significantly moderated the relationship between religious belief and entrepreneurial intentions. These findings contribute to the existing literature. The study is unique in that it associates social and psychological factors within a model.
  Keywords: religious belief; entrepreneurial value; entrepreneurial intention; family support.
  DOI: 10.1504/IJESB.2026.10080443
   
  
• Daughters as successors: gendered growth logics and succession intentions in Indian family businesses  
  by Nitish Kumar Minz, Mary Cherian 
  Abstract: This study explores succession intentions among daughters in family-owned small and medium enterprises (SMEs) in Haryana, India, using a qualitative case study approach based on 24 semi-structured interviews. Moving beyond traditional male-centric succession models, it conceptualises succession as a gendered legitimacy process shaped by patriarchal institutional norms. The findings reveal that daughters are motivated by relational continuity, business modernisation, and long-term family wellbeing alongside financial considerations. However, their succession intentions are constrained by son-preference norms, limited recognition, role ambiguity, and governance barriers. The study extends family business and gendered entrepreneurship theory by demonstrating that daughters redefine succession success through relational stability and adaptive innovation rather than rapid business growth. It also addresses the predominance of quantitative succession research by providing context-rich qualitative evidence from an underexplored Indian setting, offering practical implications for inclusive succession planning, family governance, and gender-equitable policy development.
  Keywords: gendered succession; family business; daughters; emerging economies; India.
  DOI: 10.1504/IJESB.2027.10080444
   
  
• SMEs and working capital management: focus on the fishing business in a developing country  
  by Ismail Boujnane, Amon Simba 
  Abstract: Despite extensive research on adversity and working capital management (WCM), research on WCM in SMEs grappling with multiple adversities remains underdeveloped. Accordingly, this study focuses on 100 small Moroccan fisheries. Its regression and generalised method of moments (GMM) analyses delineate the interplay between WCM and profitability aspects of return on assets (ROA), cash conversion cycle (CCC), days inventory outstanding (DIO), days sales outstanding (DSO) and days payable outstanding (DPO) in the fishing business. This contributes to entrepreneurial finance and adversity research. Specifically, it contributes integrated and contextualised facets of profitability in small fishing businesses of a low-income country and WCM at the height of a 2020 disruptive pandemic. Thus, the originality of this study stems from its grounded phenomenon-theory interface describing a confluence of profitability factors dictating WCM in a low-income countrys small fisheries. These theoretical insights have implications for research, small fisheries owner-managers and policy-makers.
  Keywords: SMEs; working capital management; WCM; fishing business; low-income country.
  DOI: 10.1504/IJESB.2027.10080707
   
  
• Banking entrepreneurs and artificial intelligence technology adoption model: an empirical analysis  
  by Srishti Banerjee, Neha Nagar 
  Abstract: This research investigates how AI applications affect job satisfaction for banking entrepreneurs. A sample of 300 individuals completed a structured questionnaire using a convenience sampling approach. This study defines banking entrepreneurs as banking institution employees who are involved with decision making, customer interactions, and operations of innovation. Results from exploratory factor analyses indicated five major types of AI applications: fraud detection, customer service, loan approvals and credit scoring, operational efficiency, and compliance and risk management. Structural equation modelling (SEM), using maximum likelihood estimation, was conducted on the proposed relationships. Results show that fraud detection, customer service, and operational efficiency all positively impact job satisfaction. Conversely, loan approval and credit scoring show a very small and statistically insignificant negative relationship. The results suggest that effective AI integration into a banking organisation requires transparency, employee training, and a balance between human and AI interactions.
  Keywords: artificial intelligence entrepreneurs; AI-enabled fraud detection; job satisfaction; customer service; CS; operational efficiencies.
  DOI: 10.1504/IJESB.2027.10080718
   
  
• Small business growth from infrastructure to engagement: role of digital financial inclusion  
  by Ananya Goel, Sweta Goel 
  Abstract: Access to digital financial services is widely regarded as a precondition for small business growth. This study constructs a high-frequency digital financial inclusion index (DFII), spanning January 2018 to December 2024 as an indicator of small business growth using nineteen monthly indicators. The index is organised into two dimensions: access (infrastructure and identity) and usage (transaction activity). Two-stage principal component analysis condenses nine access and ten usage series into separate sub-indices in Stage 1. Stage 2 combines these sub-indices into a composite DFII. Results show that DFII grew by approximately 280% throughout the study period. usage surpasses access in mid-2022, signalling a transition from growth focused on infrastructure building to active engagement. The study is limited to national-level aggregates, leaving regional and demographic disparities unexamined. This paper enables benchmarking by policymakers, financial institutions, and small business researchers to design interventions that translate digital connectivity into economic participation of small businesses.
  Keywords: financial inclusion; digital financial inclusion; DFI; digital financial inclusion index; DFII; fintech; principal component analysis; PCA; small businesses.
  DOI: 10.1504/IJESB.2027.10080719
   
  
• ESG integration as an entrepreneurial capability: how executives reconfigure target CSR in M&A decisions  
  by Mohamed Firas Thraya, Taher Hamza 
  Abstract: Assessing a target firm’s commitment to ESG criteria has become a central issue in merger and acquisition (M&A) decision-making. While prior research documents the impact of CSR on M&A outcomes, little is known about how executives interpret and operationalise ESG information throughout the deal process. This study conceptualises ESG integration as an entrepreneurial capability through which executives exercise judgment, manage uncertainty, and reconfigure resources. Using an exploratory mixed-methods survey design combining structured and open-ended data from 144 M&A professionals, we identify three interrelated dimensions: CSR literacy, ESG integration across the deal process, and perceived value of target CSR. The findings suggest that ESG considerations influence valuation, negotiation practices, and post-merger governance, rather than functioning as symbolic signals alone, although these patterns should be interpreted within the context of a single national sample. By framing ESG integration as a dynamic, executive-level capability rooted in judgment under uncertainty, this study contributes to research on entrepreneurship and M&A and offers practical insights for executives navigating ESG-driven acquisition strategies.
  Keywords: ESG integration; entrepreneurial capability; CSR; mergers and acquisitions; M&A; executive decision-making; resource constraints.
  DOI: 10.1504/IJESB.2027.10080800
   
  
• Moderating effect of emotional intelligence on the financial empowerment, independence and progression of women entrepreneurs  
  by Tejaswini S., B. A. Karunakara Reddy, Ravichandran Krishnamoorthy 
  Abstract: Indian government initiates numerous programs to promote women entrepreneurs, yet, women continue to be constrained by societal restrictions and limited access to credit. The ASUSE 2023-24 represents the increasing participation of women in proprietary concerns in India, this reinforces to address the issues like lack of training and emotional support. Emotional intelligence (EI) is crucial in determining an individual’s capacity to overcome entrepreneurial challenges. This study examines role of EI in financial empowerment, independence, and progression. Through an exploratory research design, the study employs a structured questionnaire that is administered to women entrepreneurs in Bengaluru and Tumakuru districts. Analysis was conducted on 501 responses through linear multiple regression, factor analysis, and structural equation modelling (SEM). The study recommends that EI plays an important role in determining financial decision-making. Focusing on EI as a critical factor, the study presents insightful strategies to encourage women entrepreneurs’ sustainable financial development and independence.
  Keywords: risk management; planned behaviour; business awareness; entrepreneurial acumen; financial management.
  DOI: 10.1504/IJESB.2027.10080908
   
  
• Nurturing the nexus between entrepreneurial climate and entrepreneurial resilience: evidence from SME managers in the Kurdistan Region Iraq  
  by Ayoub Ali Mustafa Ameen, Alvin Aldawod 
  Abstract: A principal objective of the Kurdistan Region of Iraq (KRI) Vision 2030 is to build a competitive, resilient economy, with small and medium enterprises (SMEs) playing a central role. This study examines the effects of entrepreneurial climate dimensions management support, work discretion, rewards, and time availability on entrepreneurial resilience, drawing on dynamic capabilities theory. A quantitative, cross-sectional survey was conducted using purposive sampling of 617 SMEs across Erbil, Sulaymaniyah, Duhok, and Halabja. Data were analysed using partial least squares structural equation modelling (PLS-SEM) with SmartPLS 4. The findings show that all four entrepreneurial climate dimensions positively influence entrepreneurial resilience. The study extends dynamic capabilities theory by providing empirical evidence from an underexplored emerging market and offers practical insights for SME managers and policymakers seeking to strengthen resilience and support the objectives of KRI Vision 2030. This research contributes by identifying entrepreneurial climate as a key driver of SME resilience, thereby.
  Keywords: entrepreneurial climate; entrepreneurial resilience; SMEs; dynamic capabilities theory; Kurdistan Region of Iraq; Iraq.
  DOI: 10.1504/IJESB.2027.10080929
   
  
• Mapping employability in the artificial intelligence era: a bibliometric perspective  
  by Amita Jain, Ankita Singla, Laurent Vilaine, Miriam R. Aziz, Roy Matta 
  Abstract: The emergence of artificial intelligence has transformed the way work is done. It has changed the long-term career pathways and skill requirements in the labour market. This evolution has led to the scholarly debate about the changing nature of employability in a digitised environment. To understand the key concepts present in this dynamic field, bibliometric analysis is conducted on artificial intelligence and employability. It examined 465 publications from 2000 to 2025 retrieved from the Scopus database. These documents are analysed using Vos Viewer software and Biblioshiny package in R Studio. Various performance and science mapping techniques are applied such as citation analysis, co-authorship, co-citation, keyword co-occurrence and bibliographic coupling. This study extends the literature by uncovering research gaps and hidden research patterns in the field of AI and employability, providing valuable insights to the future researchers.
  Keywords: employability; artificial intelligence; digital transformation; bibliometrics.
  DOI: 10.1504/IJESB.2027.10080957
   
  
• Entrepreneurial education and family support in shaping entrepreneurial mindset: the roles of attitude and opportunity recognition  
  by Khawaja Jehanzeb, Sundas Razzaq, Suneel Raza 
  Abstract: This study investigates the effects of entrepreneurial education and family support on entrepreneurial mindset by examining the mediating role of attitude toward entrepreneurship and the moderating role of entrepreneurial opportunity. Drawing on the theory of planned behaviour, data were collected from 389 university students in metropolitan cities of Pakistan using a stratified sampling technique and analysed through structural equation modelling (SEM) in AMOS 21.0. The findings indicate that entrepreneurial education and family support positively influence attitude toward entrepreneurship, which subsequently enhances entrepreneurial mindset. Attitude toward entrepreneurship also mediates the relationships between entrepreneurial education, family support, and entrepreneurial mindset. Furthermore, entrepreneurial opportunity significantly moderates the relationship between attitude toward entrepreneurship and entrepreneurial mindset. By extending the theory of planned behaviour to a non-Western context, this study offers theoretical and practical insights for higher education institutions and policymakers seeking to enhance entrepreneurial mindsets among university students.
  Keywords: entrepreneurial education; EE; family support; FS; attitude towards entrepreneurship; ATE; entrepreneurial opportunity; EO; entrepreneurial mindset; EM.
  DOI: 10.1504/IJESB.2027.10081002
   
  
• Institutional dynamics and agripreneurship: a theoretical exploration of rural agripreneurship in South Africa  
  by Nosiphiwe Mgudlwa, Amon Simba, Dennis Yao Dzansi, Lentswe Mosweunyane 
  Abstract: Despite its promise, agripreneurship has largely remained at the periphery of mainstream entrepreneurship research, leading to an imbalanced literature which often lacks theoretical grounding. Accordingly, this systematic literature review investigates how institutional dynamics, manifested through both formal and informal institutions, influence agripreneurship within the developing world context of South Africa. In its analysis, this systematic literature review employs bibliometric and thematic analysis techniques to examine studies retrieved from Scopus, Web of Science, dimensions, and Google Scholar, published between 2000 and 2025. From this comprehensive analysis, we develop theoretical explanations and perspectives that elaborate on how the interplay of formal and informal institutional forces both enables and constrains agripreneurship in South Africa. Our theoretical insights offer significant implications for policymakers and practitioners. They advocate for institutional and social reforms that align with community-based informal systems, thereby enhancing inclusivity, innovation, and sustainability within the agripreneurship ecosystem in developing economies.
  Keywords: rural agripreneurship; institutional theory; South Africa.
  DOI: 10.1504/IJESB.2027.10081003
   
  
• Unveiling the link between social capital, opportunity recognition, and entrepreneurial intention in the flower industry of Bangladesh  
  by Imtiaz Masroor, Md. Nur Alam, Sadia Tasneem, Tamalika Bala 
  Abstract: Social capital plays a pivotal role in shaping the economic dynamics of communities, contributing to increased diversity, productivity, job creation, and overall economic development. This study examines how social capital influences entrepreneurial intention within the Bangladeshi flower industry. By employing a quantitative survey with 148 selected flower growers from Jhikargacha upazila, Jashore and employing a mix of convenience and snowball sampling methods, this study reveals a positive and significant association between social capital and both entrepreneurial intention and opportunity recognition. This finding suggests that social networks, collaborations, and access to resources through social capital can promote opportunity recognition and entrepreneurial intention within the flower industry. By demonstrating the multifaceted impact of social capital on entrepreneurial behaviour in a specific context, this study contributes to our understanding of social capital theory and offers practical insights for stakeholders aiming to support flower growers' entrepreneurial endeavours.
  Keywords: social capital; entrepreneurial intention; opportunity recognition; entrepreneurial ecosystem; flower industry.
  DOI: 10.1504/IJESB.2026.10074283
   
  
• Shaping SME success through gender diversity  
  by Renato Pereira, Charbel Salloum, M. Naguib Omar, Summeya Gafur, Alice Shuman 
  Abstract: This study explores the impact of board gender diversity (BGD) on the financial performance of SMEs in Portugal, with a focus on family-owned businesses, framed within agency theory. It hypothesises that gender-diverse boards improve firm performance by enhancing governance, decision-making, and aligning managerial interests with shareholder objectives. The research examines how gender diversity influences various performance indicators, particularly profitability, and investigates the moderating role of corporate social responsibility (CSR) initiatives. A quantitative approach was adopted, using survey data from SMEs across Portugal. Financial performance is assessed through return on assets (ROA) and return on equity (ROE), with independent variables including board gender diversity, corporate governance practices, and stakeholder engagement. The study finds that CSR moderates the relationship between gender diversity and financial outcomes, offering new insights into how gender-diverse boards can foster sustainable business practices. This research contributes to the literature by focusing on SMEs, a sector underrepresented in existing studies and emphasises the growing importance of gender diversity in corporate governance. The findings have practical implications for policymakers, business owners, and managers aiming to integrate gender diversity and CSR strategies to enhance governance and improve financial performance in the Portuguese SME sector.
  Keywords: board gender diversity; BGD; SMEs; financial performance; corporate social responsibility; CSR.
  DOI: 10.1504/IJESB.2026.10074134
   
  
• The effects of winery clusters on brand positioning strategy among small luxury winery operators  
  by Kyuho Lee, Inhyuck Ha, Janejira Sutanonpaiboon, Javier Martínez-Falcó 
  Abstract: This study explores the brand positioning strategies of small luxury wineries located in the Napa Valley and Sonoma County winery clusters, which are two major winery clusters in the USA. Applying content analysis methods, based on signalling theory, to analyse winery websites, the researchers examined differences in the brand positioning strategies of the Sonoma County and Napa Valley winery clusters. The study results reveal that the two winery clusters affect the brand positioning strategies of small luxury wineries. Small luxury wineries in Napa Valley use points of differentiation based on functionality, whereas small luxury wineries in the Sonoma winery cluster use points of differentiation based on emotion. Two strategies show statistically significant differences in means: innovation and underdog branding. The study provides small wineries with fundamental strategies for differentiating themselves to stand out and maintain competitive advantages. The study contributes to the existing body of literature on the wine business, as there is almost no literature on the small winery's branding strategies.
  Keywords: brand positioning strategies; small luxury wineries; winery clusters; underdog branding strategy.
  DOI: 10.1504/IJESB.2026.10079840
   
  
• Empowering communities with social entrepreneurship  
  by Ines Ben Chikha, Jamila Abaidi Hasnaoui, Miriam R. Aziz, Marion Polge, Roy Matta 
  Abstract: This study explores the growing role of social entrepreneurship in addressing social, environmental, and economic challenges, highlighting its potential to generate a long-term positive impact. It further underscores the importance of social entrepreneurship for sustainable development. It demonstrates how its economic, social, and environmental missions foster innovation, inclusion, and community resilience. The findings emphasise the need to actively support social entrepreneurship by strengthening public policies, adapting financial mechanisms, and fostering strategic collaborations. Encouraging entrepreneurs to engage in sustainable initiatives thus emerges as a key driver for transitioning toward a more equitable and responsible economy. Finally, future research should empirically test this model and analyse its impact across different cultural contexts. This would help assess its effectiveness, identify success factors, and adapt support strategies accordingly.
  Keywords: social entrepreneurship; economic mission; social mission; environmental mission; economic sustainability; social sustainability; environmental sustainability; sustainable development.
  DOI: 10.1504/IJESB.2026.10074533
   
  
• Empowering mountain communities: the role of village agricultural cooperatives in stimulating agri-entrepreneurship among Himalayan smallholders  
  by Ghulam Raza, Kratzer Jan, Syed Zaheer Abbas Kazmi 
  Abstract: Himalayan smallholders encounter numerous challenges that hinder their access to entrepreneurial opportunities. Village agricultural cooperatives (VACs) have emerged as vital institutions for addressing the constraints faced by smallholders through collective action. Employing a qualitative case study approach, this research examines the role and contributions of VACs in stimulating agricultural entrepreneurship. The findings reveal that VACs play a crucial role in stimulating agricultural entrepreneurship. They support smallholders through resource mobilisation, capacity building, market integration, and fostering social capital, thus enhancing agricultural entrepreneurship and contributing to their economic empowerment. By contextualising entrepreneurship, particularly focusing on the rarely studied highland Himalayan context with a specific emphasis on underrepresented, marginalised smallholders, this study contributes to the literature on agricultural/rural entrepreneurship, as well as collective action, social capital, human capital, and resource-based theories. Additionally, the study has significant implications for policymakers and development practitioners seeking to promote agricultural entrepreneurship and enhance the livelihoods of marginalised rural communities.
  Keywords: agricultural entrepreneurship; cooperatives; smallholders; collective actions; social capital; Himalayan region; Gilgit-Baltistan; Pakistan.
  DOI: 10.1504/IJESB.2026.10074426
   
  
• A historical approach to 'customer-value' and its usage in pricing: the case of the ibudrarn traders of Ammeln Valley in Southern Morocco  
  by Stan Idelsen 
  Abstract: Pricing methods' history reveals a striking analogy in paradigms, despite an apparent disruption in cultural heritage, between pre-industrial and post-industrial capitalist structures. It is still evidenced in the trading practices of the traditional Amazigh (Berber) traders (ibudrarn) from Tafraout in the Ammeln Valley in the middle of the Anti-Atlas Mountains (Souss). As a methodology, we analysed the roots of the genuine words they use in Tashelhiyt/Tashelhit to better understand the 'representations' behind them. Their bargaining rituals can be compared to modern price sensitivity when communicating value. Their practices of 'aggregate profits' and billing based on the customers' ability to pay, respectively aligned with the modern B2B concepts of 'contribution' and 'customer-perceived-value', converge with other ethnic business minorities worldwide. While the practice of cost-plus pricing is generally associated with modern industrial societies, the post-industrial related value-based business management and pricing strategies relate to indigenous communities' entrepreneurship.
  Keywords: Amazigh; Berber; Tashelhit; Tafraout; Ammeln; contribution; customer-value; value-based business; customer perceived value; pricing; ethnic business; middleman minorities.
  DOI: 10.1504/IJESB.2026.10076093