Forthcoming and Online First Articles

International Journal of Management and Enterprise Development

International Journal of Management and Enterprise Development (IJMED)

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International Journal of Management and Enterprise Development (7 papers in press)

Regular Issues

  • Start-up development issues in business incubators   Order a copy of this article
    by Jamal Hussain, Himadri Barman 
    Abstract: Business incubators (BIs) are organisations meant for nurturing nascent businesses. The BIs bestow vital resources to the start-ups necessary for their development. Notwithstanding, little focus has been given to understand start-ups’ expectations from the BIs and their satisfaction on support services during the process of their development in the BIs. The present study sheds light on this issue by conducting a survey on 279 start-ups incubated during 2010-2020 in seven BIs. The study unveils that the start-ups’ key purpose of joining BIs are access to funding, alliance building, legal assistance, business mentoring and coaching services and that the satisfaction level is short of expectation. This study provides valuable insights to enhance the start-ups’ development process in the BIs. The issues that are identified can be vital in formulating business incubator’s service management and development strategies.
    Keywords: incubatee; tenant; start-up development; small business development; entrepreneurship; support services; developing nations; business incubator; satisfaction; expectation.
    DOI: 10.1504/IJMED.2024.10063601
  • Identification of key factors of Industry 4.0 development from the perspective of R&D organizations using the Delphi method   Order a copy of this article
    by Lubica Kotorova Slusna, Miroslav Balog, Dusana Dokupilova 
    Abstract: Various measures have been introduced to bring together businesses and scholars. This study aims to identify the critical factors for the progress of Industry 4.0, and the ability to cooperate with businesses from the perspective of Slovak public research and development organisations using the classical Delphi method. Two rounds of the Delphi method were performed. The interquartile ratio measured consensus among experts; the mean determined whether the factor could be considered critical; and the difference in the coefficients of variation was used as a measure of the stability of answers between rounds. Strengths, weaknesses, opportunities, and threats (SWOT) matrix factors were grouped into four categories: framework conditions, technology, human resources, and cooperation. Of the 63 factors included in our SWOT matrix, only two acquired mean ratings lower than moderate. This suggests that to exploit the potential of Industry 4.0, an innovation ecosystem perspective that captures various areas is crucial.
    Keywords: Industry 4.0; Delphi; research and development; policy measures; innovation ecosystem.
    DOI: 10.1504/IJMED.2024.10064076
  • Development of a digitalization maturity model for small and medium-sized companies   Order a copy of this article
    by Mohit Raj, Christoph Ertl, Sebastian Floerecke, Alexander Herzfeldt 
    Abstract: Small and medium-sized enterprises (SMEs) face unique digitalisation challenges due to their specific characteristics. Digital maturity models are proving to be a useful tool in ensuring that digital transformation is carried out securely and effectively. However, most of these models have been developed for large enterprises and are therefore not easily adaptable to SMEs. The aim of this paper is to examine the necessary features that digitalisation maturity models should include for SMEs and to create a digitalisation maturity model that is specifically tailored to their needs by also drawing on existing frameworks. The developed digital maturity model can be used to take a structured look at digitalisation in SMEs using the dimensions, sub-dimensions and level characteristics and to determine the current state of a company’s digital maturity. The model can thus provide a common basis for discussion and serve as a platform for identifying potential areas of optimisation.
    Keywords: small and medium-sized companies; SMEs; digitalisation; digital transformation; maturity model; design science research.
    DOI: 10.1504/IJMED.2024.10064155
  • Impact of employee stock ownership on firm financial performance: does corporate social responsibility matter?   Order a copy of this article
    by Zyed Achour 
    Abstract: The debate surrounding the relationship between employee stock ownership (ESO) and firm financial performance (FFP) remains contentious. While previous research has viewed this connection as direct, this study proposes an indirect relationship. Drawing on agency theory, property rights theory, and a resource-based view, we argue that employee stock ownership fosters enhanced financial performance. Additionally, building on existing theoretical and empirical literature, we hypothesise a positive association between CSR and FFP. Our analysis of panel data from 72 listed French companies (2010-2020) confirms a significant relationship between ESO and FFP. Moreover, our findings suggest CSR acts as a partial mediator in this relationship. These results shed light on how ESO and financial performance interact, with CSR playing a mediating role. Policymakers, practitioners, and academics can use this insight to develop strategies for inclusive, sustainable corporate governance that maximise value for shareholders and society.
    Keywords: employee stock ownership; ESO; corporate social responsibility; CSR; agency theory; incentive rights theory; firm performance; ESG; Tobin's Q; SBF120; firm financial performance; FFP.
    DOI: 10.1504/IJMED.2024.10064228
  • Diversification over time: a dynamic approach of diversification in the US venture capital industry   Order a copy of this article
    by Lei Xu, H. Shawna Chen, Qian Gu, Hans Hansen 
    Abstract: Predictors of diversification are commonly time-variant but are often treated as static. In this paper, the role of time in firms diversification decisions is explored using discontinuous growth modelling. Informed by the literature, three salient factors affecting change of organisational diversification over time were identified: founding team heterogeneity, reputation, and status. Our sample of 785 US venture capital (VC) firms from 1991 to 2016 show that the level of diversification among the US VC firms follows an inverted U-shaped pattern over time. Moreover, only founding team heterogeneity has a significant moderating effect on the relationship between diversification and time. To better inform and enrich our interpretation of these interesting findings, we conduct qualitative interviews with VC firm general partners and founders. It is suggested that, over time, founding team heterogeneity pull firms back toward their initial strategic choice of lower diversification. Founding team imprinting may explain this inverted U-shape of diversification over time - firms that initially chose low levels of diversification but later diversified in pursuing investments with high returns, would pull back to initial diversification levels over time in an attempt to achieve consensus among founding team members.
    Keywords: time; diversification; founding team; discontinuous growth modelling; venture capital firm.
    DOI: 10.1504/IJMED.2024.10064472
  • Unveiling the role of entrepreneurial intention and training on firm performance: Empirical evidence from MSMEs in India   Order a copy of this article
    by Jogeswar Mahato, Manish Kumar Jha, Vipul Gupta, Debendra Nath Dash 
    Abstract: The study empirically examines the impact of entrepreneurial intention and training on the performance of micro, small and medium enterprises (MSMEs). The study is based on a sample of 298 indigenous women entrepreneurs working in India. A structure equation model has been used to analyse the hypotheses formulated in the study. The results highlighted that the performance of MSMEs is significantly influenced by the entrepreneurial intention and training of indigenous women entrepreneurs. However, entrepreneurial intention has a higher degree of influence on the firm performance compared to entrepreneurial training received by indigenous women entrepreneurs. Policymakers and development practitioners could effectively refer to the study’s findings to identify how entrepreneurial intention and training stimulate or deter the creation and development of women enterprises across the marginalised communities in India.
    Keywords: entrepreneurial intention; entrepreneurial training; micro; small and medium enterprises; MSMEs; women entrepreneurship; performance.
    DOI: 10.1504/IJMED.2024.10064618

Special Issue on: New Paradigms for Management and Enterprise Development in Uncertain Times

  • Causal Effect between Digitalisation and Agility: The Leadership Mediating Role   Order a copy of this article
    by Samah Chemli Horchani  
    Abstract: Digitisation is an essential aspect concerning various academic fields and affecting practice. Digital contribution was the subject of multiple research streams. The present study seeks to examine relationships among digitalisation towards organisational agility through the mediating effect of leadership. To achieve the purpose, we conducted a quantitative study on 347 companies from the industrial sector. Data was gathered using a questionnaire survey. Based on structural equation modelling, the findings demonstrate that digitalisation is an important driver of organisational agility. The results confirm a positive mediating role of leadership on the verified link. The study highlighted that leadership is more than an individual behaviour. Leadership depends on the collective and it is dispensed across the entire organisation during the digital change management. The findings give original support for practitioners and academicians. The study contributed to the knowledge field by providing empirical evidence and therefore a valuable knowledge repository about the leadership and its effect on agility in a digital word.
    Keywords: digital; organisational agility; leading; mediated model.
    DOI: 10.1504/IJMED.2024.10057842