Marketing Initiatives Research Articles

Does green financing promote outward FDI in enterprises? Evidence from China

In the context of sustainable development, green rules and standards have been incorporated into the international investment system. The specific advantages driving outward foreign direct investment (OFDI) by emerging market enterprises have also undergone profound changes. Green financing plays an important role in promoting green transformation and may become a new type of competitive advantage driving OFDI by firms. Based on legitimacy theory, we explore the impact of green financing on OFDI by emerging market firms. Using data from Chinese A-share listed companies from 2008 to 2021, we find that green financing significantly promotes corporate OFDI. Improving ESG levels, alleviating financing constraints and expanding production scale are the main channels. The positive effects of green financing on OFDI are more pronounced in heavily polluting industries, capital-intensive enterprises and state-owned enterprises. This study confirms the positive impact of green financing on OFDI earlier, and also provides useful inspiration and reference for emerging market countries to improve the green financial system and actively promote global green and sustainable development.

Decoding the impact of political uncertainty on IPO underpricing in China

PurposePolitical factors play a crucial role in China's initial public offering (IPO) market due to its distinctive institutional context (i.e. “economic decentralization” and “political centralization”). Given the significant level of IPO underpricing in China, we examine the impact of local political uncertainty (measured by prefecture-level city official turnover rate) on IPO underpricing.Design/methodology/approachUsing 2,259 IPOs of A-share listed companies from 2001 to 2019, we employ a structural equation model (SEM) to examine the channel (voluntarily lower the issuance price vs aftermarket trading) through which political uncertainty affects IPO underpricing. We check the robustness of the results using bootstrap tests, adopting alternative proxies for political uncertainty and IPO underpricing and employing subsample analysis.FindingsLocal official turnover-induced political uncertainty increases IPO underpricing by IPO firms voluntarily reducing the issuance price rather than by affecting investor sentiment in aftermarket trading. These relations are stronger in firms with pre-IPO political connections. The effect of political uncertainty on IPO underpricing is also contingent upon the industry and the growth phase of an IPO firm, more pronounced in politically sensitive industries and firms listed on the growth enterprise market board.Originality/valueLocal government officials in China usually have a short tenure and Chinese firms witness significantly severe IPO underpricing. By introducing the SEM model in studying China IPO underpricing, this study identifies the channel through which local government official turnover to political uncertainty on IPO underpricing.

Does bank FinTech spur productivity of SMEs?

ABSTRACT Financial technology (FinTech) has promoted the popularization of intelligent banking services and profoundly impacted the development of small and medium-sized enterprises (SMEs). Based on manually collected over 20,000 data on FinTech patents of banks and data from Chinese A-share listed firms in the Growth Enterprise Market board from 2010 to 2020, we investigate the effects of Bank FinTech on the total factor productivity (TFP) of SMEs. Our results demonstrate that Bank FinTech significantly boosts the TFP of SMEs. The conclusion remains unchanged after conducting a series of robustness tests. Furthermore, we find that strengthening external financial regulation and internal digitalization in SMEs enhance the driving effect of FinTech on the TFP of SMEs. Moreover, heterogeneity analysis indicates that Bank FinTech is particularly beneficial for promoting TFP in non-state-owned SMEs, SMEs with large sizes and old age, and SMEs in the East and with dense bank branches. Our research offers empirical evidence on how Bank FinTech influences SMEs’ production efficiency, which is crucial for the technological catch-up of SMEs and for enhancing the ability of Bank FinTech to serve the real economy.

Research on the Impact of Economic Policy Uncertainty and Investor Sentiment on the Growth Enterprise Market Return in China—An Empirical Study Based on TVP-SV-VAR Model

This study employs the economic policy uncertainty index to gauge the level of economic policy uncertainty in China. Utilizing textual data from the growth enterprise market internet community, we construct the growth enterprise market investor sentiment index by applying the deep learning ERNIE (Enhanced Representation through Knowledge Integration) model, thereby capturing investors’ sentiment within the growth enterprise market. The dynamic interplay between economic policy uncertainty, investor sentiment, and returns of the growth enterprise market is scrutinized via the TVP-SV-VAR (time-varying parameter stochastic volatility vector auto-regression) model, and the asymmetric response of different industries’ stock returns within the growth enterprise market to economic policy uncertainty and investor sentiment shock. The findings of this research are that economic policy uncertainty exerts a negative influence on both investor sentiment and returns of the growth enterprise market. While it may trigger a temporary decline in stock prices, the empirical evidence suggests that the impact is of short duration. The influence of investor sentiment on the growth enterprise market returns is characterized by a reversal effect, suggesting that improved sentiment may initially boost stock prices but could lead to a subsequent decline over the long term. The relationship between economic policy uncertainty, investor sentiment, and returns of the growth enterprise market is time-variant, with heightened sensitivity observed during bull markets. Lastly, the effects of economic policy uncertainty and investor sentiment on the returns of different industries within the growth enterprise market are found to be asymmetric. These conclusions contribute to the existing body of literature on the Chinese capital market, offering a deeper understanding of the complex dynamics and the factors influencing market behavior.

Capital Structure and Enterprise Market Value: An Empirical Analysis Based on S&P 500 Companies

Abstract: This study explores the impact of capital structure on enterprise market value, specifically examining the influence of the debt ratio on the market valuation of S&P 500 companies. Capital structure decisions are crucial for corporate managers and investors, as they significantly affect firm performance, risk, and market perception. The research is motivated by the need to understand how financial leverage influences market valuation, particularly in large, publicly traded companies. Utilizing two-way fixed effect panel data models spanning from 2020 to 2023, we find significant evidence that higher leverage is associated with an increase in market valuation, offering a comprehensive view of the factors that influence corporate market values. Additionally, the study reveals that the impact of leverage varies across company sizes and examines sector-specific effects and the role of long-term debt. The findings provide key insights for investors and corporate managers regarding the impact of financial structure on company valuation, emphasizing the importance of optimizing capital structure to enhance firm value and strategic decision-making.

Moderating effect of contextual factors on the relationship between travel motivation and destination loyalty among domestic tourists in the Coast region of Kenya

Despite the marginal growth recorded in the tourism sector in Kenya, the domestic visits and estimates fall far below the expectations. The study was guided by the following specific objective; to assess the moderating effect of contextual factors on the relationship between travel motivation and destination loyalty among domestic tourists in the Coast Region of Kenya. The study area comprised frequented attractions in the Coast region of Kenya. The study adopted an embedded mixed approach comprising descriptive survey and explanatory research designs. Simple random sampling and purposive techniques were adopted for domestic tourists, destination managers and experts respectively. Data was collected using questionnaires and interview schedules. Four hundred (400) questionnaires were distributed while 10 destination managers and 5 experts were interviewed. Data analysis was done using multiple regression models, hierarchical multiple regression and descriptive analysis. The multiple regression model results without interaction terms indicated that R-square = 0.442, implying that destination attributes and socio-psychological factors explain 44.2% of destination loyalty. The hierarchical multiple regression demonstrated that contextual factors have a moderating effect on interaction between travel motivation and destination loyalty since the model was significant {R2 = 0.255, F (7, 371) = 12.12, p =0.0001}. The model accounted for 25.5% of variation on destination loyalty. This means that the composite elements of contextual factors namely; political, economic, technological and socio-cultural factors significantly moderates the interaction between travel motivation and loyalty behaviour of domestic tourists. The null hypotheses were tested and rejected. The study recommends need for destinations and service providers to engage more on digital marketing and deploy technology during marketing initiatives and product development to capture niche segments since majority of the respondents were youth travelers

Research on the Digital Transformation of the Enterprise Marketing Ecosystem Based on Genetic Algorithms

This paper examines the current state of the Enterprise Marketing Ecosystem (EME), especially in the context of Digital Transformation (DT), highlighting both the challenges and opportunities it presents. A significant focus is placed on the potential of genetic algorithms to address the complex optimization problems inherent in this transformation. The core issues faced by enterprises in their digital marketing evolution are elaborated, setting the stage for the exploration of genetic algorithms in this domain. The research delves into the specific steps of the proposed method, utilizing the multi-objective genetic algorithm NSGA-II to optimize various aspects of market strategies. The methodology includes the generation of an initial population, evaluation of fitness according to the tailored needs of the marketing ecosystem, selection, crossover, and mutation operations, followed by the formation of a new generation of solutions. The termination criteria of the algorithm are also discussed. Experimental results are presented, demonstrating the effectiveness of the genetic algorithm in enhancing the DT of the EME. Comparisons with traditional approaches reveal significant improvements in various key performance metrics, underscoring the algorithm’s capability in navigating the complexities of digital marketing optimization.

Investigating the effects of political correctness in social marketing messaging

Purpose Obesity imposes myriad negative consequences upon society, the economy and personal well-being. This study aims to investigate the effectiveness of using political correctness (PC) in social marketing messages to persuade consumers to change their unhealthy behavior. It also explores various underlying mechanisms that drive this effect. Specifically, this research studies that messaging approach – politically correct vs politically incorrect and gain vs loss message framing – generates higher consumer intentions to change their behavior. Design/methodology/approach Four experiments were conducted with nationally representative samples to examine the effect of PC and gain vs loss message framing on consumers’ behavior changing intentions. Findings Politically correct prosocial marketing messages displayed higher persuasiveness than politically incorrect messages. Each relationship was mediated by the perceived manipulative capacity of the message and consumers’ attitudes toward the message. Message framing performed as a boundary condition for these effects. Research limitations/implications This paper sought to contribute to the literature that investigates the effectiveness of social marketing efforts. Three specific contributions related to the effects of message frames on politically correct and incorrect social marketing messages were developed. Practical implications The strategies presented in this paper benefit firms wishing to create a more prosocial approach to their business. A firm can present a prosocial message to their target market in a frame focusing on what will be gained instead of lost. Likewise, firms should welcome this type of messaging that embraces politically correct terminology instead of shying away from it. Originality/value This paper generates actionable insights for marketers and policymakers regarding how best to communicate with targeted segments about culturally- and personally sensitive topics related to obesity and weight loss. This paper also contributes to the literature that explores the effectiveness of social marketing initiatives. The findings suggest policymakers and social marketers should be cautious and, regardless of today’s sociopolitical environment, avoid falling into the temptation of developing politically incorrect and loss-framed messages.

Using Theory and Practice to Develop Lottery Ticket Warning Messages as a Means of Promoting More Responsible Gambling

Background Playing the lottery is considered a public health concern in many countries due to financial losses associated with it, but also due to other harmful health and social problems. Focus of the article Informed by both theory and practice, this article focuses on developing lottery ticket warning messages targeting players harmed by excessive spending to promote sustainable behavior change. Research Question What should be communicated in lottery ticket warning messages targeting people at risk to facilitate behavior change and maintain it? Approach We bridge the gap between theory and practice and illustrate how theoretical models and current communications can shape messages. Specifically, we identify and examine lottery ticket warning messages and analyze their relative congruence to prevailing theories to assess the potential effectiveness of the messages and to recommend warning labels for lottery tickets. In addition, we incorporate knowledge used by cognitive psychologists in counselling to create warnings more likely to motivate and sustain behavior change. Importance to the Social Marketing Field Merging academic theory with existent communications ensures better knowledge translation and potentially better outcomes. Introducing verified techniques from Cognitive Behavior Therapy into social marketing initiatives could be a step forward into triggering behavior change. Methods A literature review was conducted to identify and select theoretical models appropriate to guide communications for lottery tickets harmful consumption. Searches were conducted to identify initiatives aiming at persuading and helping at-risk individuals to change their behavior in a healthy manner. Social marketing campaign messages were then compared with theoretical paradigms to identify ways in which campaign messages could be improved. Results Results show campaign messages were relatively consistent with some aspects of the theoretical models. Warning messages provide information that is relevant to the target audience and describe the severity and vulnerability of irresponsible consumption. They also attempt to decrease perceived costs and increase perceived self-efficacy in a variety of ways. Some also attempt to modify cognitive distortions the audience has in respect to chances of winning. However, initiatives should also increase consumers’ perceptions of the response-efficacy by emphasizing their agency, and further enhance individuals’ perception of self-efficacy by incorporating strategies from the Cognitive Model. Recommendations for Research and Practice Academics and practitioners can build on each other’s knowledge on an ongoing basis. By making it default to always consider both theory and practice, initiatives are likely to become more effective. Managers responsible for developing warning messages and implementing social marketing campaigns can experiment with the various theoretical approaches to determine which are comparatively more effective for their situations. Limitations Future research is needed to test the comparative effectiveness of these theories as a basis of creating persuasive warning messages.

Have MSMEs in Indonesia Focused on Business Sustainability? The Influence of Environmental Orientation, Technology Implementation, Green Marketing, and Innovation Capability

The aim of this study is to determine the factors that impact MSMEs' sustainability practices and the degree to which they concentrate on business sustainability in Indonesia. This study used a quantitative research approach and collected survey data from MSMEs in Indonesia operating in various industries totaling 350 samples. Partial Least Squares Structural Equation Modeling (PLS-SEM) was used for data analysis to assess the relationship between variables. The study discovered that a focus on the environment, the application of technology, and green marketing greatly improve an organization's capacity for innovation, which in turn has a favorable impact on the sustainability of the firm. MSMEs are more likely to develop and maintain their business practices over time if they invest in green marketing techniques, use cutting-edge technologies, and give priority to environmental issues. In order to attain sustainability, MSMEs should include technology, marketing, and environmental initiatives into their fundamental business operations, according to the research. It is recommended that policymakers provide incentives, subsidies, and training programs to MSMEs in order to encourage the adoption of technology and green marketing. Support like this can encourage sustainable practices throughout the industry and close the digital divide. This study offers insightful information about the combined effects of environmental orientation, technology adoption, and green marketing on MSMEs in Indonesia's capacity for innovation and long-term viability of their businesses. It gives helpful suggestions for boosting MSMEs' sustainability and emphasizes the crucial role that innovation plays in converting these elements into sustainable business practices.

Psychic Distance’s Impact on China’s Reverse M&A Innovation

ABSTRACT In this study, we examined Chinese firms’ cross-border reverse mergers and acquisitions (M&As). From the perspective of internal and external uncertainties, as well as the essence of psychic distance (PD), we established five dimensions of the PD of cross-border reverse M&A: cultural distance, national image, degree of internationalization, top management team (TMT)‘s overseas background, and perceived distance. Using fuzzy-set qualitative comparative analysis (fsQCA), we found that the impact of PD on innovation performance was a combination of multiple factors, showing three types of configurations: external uncertainty dominant, internal uncertainty dominant, and perceived distance dominant. We further explored the interactions between knowledge conditions, such as firm size, industry relevance, and relative knowledge scale, and PD. This study supplements and expands current theories on the internationalization of emerging market enterprises from the perspective of latecomer countries.

Ego-network characteristics moderates the interaction of structural hole and centrality on market performance: based on coopetition network

This paper establishes a symmetric matrix based on the coopetition relationships among global automobile enterprises, and uses Ucinet software to obtain the visualization chart of the coopetition network of global automobile enterprises. Then, the multiple moderating effect method and two-stage least squares method are adopt to reveal the interaction between structural hole and centrality on enterprise market performance, and how the ego-network characteristics affect this interaction. The results show that structural hole and centrality have a positive interaction on market performance. Compared with high ego-network stability, the positive interaction between structural hole and centrality on enterprise market performance is stronger under the condition of low ego-network stability. And compared with low ego-network density, the positive interaction between structural hole and centrality on market performance is stronger under the condition of high ego-network density. These new findings further strengthen the connection between the overall network and ego-network.

Blocking Fraud, Advertising, or Campaign-Related Calls with a Blockchain-based Mobile App

The use of a person's cell phone to commit fraud is known as cell phone fraud. Such scams are usually carried out through fake phone calls or text messages. The victim receives a call from a cell phone scammer, usually claiming to have an emergency or a legal problem. The purpose of the scam is usually to convince the victim to provide personal or financial information. This may include private information such as social security numbers, bank account details or credit card information. In addition, users are often subjected to unsolicited calls for marketing and information gathering initiatives such as campaigns, advertisements and surveys. In this study, a smartphone application built on the blockchain is created to stop these nuisance actions. Transaction times and performance tests have been rigorously performed according to the difficulty levels of the blockchain structure.

Green Behaviour Engagement Towards the Achievement of Sustainable Health: A Systematic Review and Bibliometric Analysis

Background The short-term actions generated by the proposed SDGs by the United Nations promote sustainability and raise the probability of finding the best global crisis solution. This research builds on previous studies that demonstrate the interconnectedness and reciprocal support of Goals 3 and 12 in their pursuit of societal transformation by altering production and consumption patterns. Focus of the Article This study set out to fill a knowledge need by examining the current state of the literature on the topic of how SDGs interact with one another. The paper primarily addressed SDGs 3 and 12. Research Question (a) How could green behaviour promote sustainable health, and what is the present status of research in this field across nations, research communities, academic journals, and professional organizations? (b) How, with research topic as the key domain, can we make progress towards Sustainable Development Goals 3 and 12 through the social marketing?. Importance to the Social Marketing Field The purpose of this paper is to provide a plan for bringing about societal transformation by means of sustained, short-term efforts in the realms of production and consumption, undertaken with the backing of the nation’s stakeholders. Doing so makes long-term success in altering health-related behaviours (prevention, protection, and persistence in the face of health hazards) more likely. Despite their best efforts to enhance the well-being of societies through social transformation, the authors believe that social marketers may be steering communities in an unsustainable direction. Method Thus, a systematic review and bibliometric analysis were conducted to ascertain the breadth of the research underlying the title by analyzing 135 Scopus publications from 74 journals from 2011–2022 and graphically presented and tabulated the trends, important authors, nations, research papers, and keyword co-occurrences. Biblioshiny, a Bibliometrix R-tool used for the purpose of scientific mapping. In addition, the alignment of study of keywords by taking social marketing discipline into account was justified through systematic review. Results Research on the interplay between SDGs and other factors is required, as 27% of the data remains unexplained. Short-term sustainable behaviours that may enhance health outcomes are combined in this study to better inform policymakers and marketers about consumers’ long-term commitment to sustainable green consumption. Recommendations for Research According to the study’s results, government agencies should create social marketing initiatives to influence the public’s behaviour and promote the health and well-being benefits associated with sustainable production and consumption. Additionally, they should provide incentives to businesses to expand their range of sustainable commodities. Businesses have a shared responsibility to develop, communicate and supply customers with the advantages of sustainable offerings, and enhance the demand for these products through a green marketing approach while reducing their prices. The ecosystem as a whole will reap the benefits of everyone’s efforts, as well as the health and happiness that comes with it. Limitations From 2011 through 2022, the Scopus database’s articles and review papers were used in the study. Additional knowledge in this area might be gained from a comparison of databases like Web of Science, Dimensions, Google Scholar, etc. The study had no geographic focus. Therefore, future research should assess this field’s national and regional potential.

ФОРМУВАННЯ ПОРТФЕЛЮ ІНСТРУМЕНТІВ ЦИФРОВОГО МАРКЕТИНГУ ПІДПРИЄМСТВА В УМОВАХ ВІДНОВЛЕННЯ ЕКОНОМІКИ УКРАЇНИ

The article examines the peculiarities of the period of post-war recovery of the Ukrainian economy and their influence on the composition of the portfolio of digital marketing tools of enterprises. The purpose of the article is to develop an algorithm for forming a portfolio of digital marketing tools for an enterprise in the period of post-war recovery, to clarify the concept of a "portfolio of digital marketing tools of an enterprise." It is substantiated that in the post-war period, the provisions of the concept of anti-crisis marketing will be relevant for planning the marketing activities of enterprises. The most common digital marketing tools are identified. The definition of the term "portfolio of digital marketing tools of the enterprise" is proposed. An algorithm for forming a portfolio of enterprise digital marketing tools has been developed. It was determined that the audit of the enterprise's marketing activity is the foundation for the formation of the enterprise's portfolio of digital marketing tools. It was determined that conducting marketing research will contribute to increasing the accuracy of the planning of the enterprise's anti-crisis marketing program. It is proposed to apply decision-making criteria in conditions of uncertainty and risk when choosing optimal alternatives for achieving the company's marketing goals in the post-war period. It was determined that monitoring the level of rationality of the company's portfolio of digital marketing tools is a necessary condition for controlling the company's marketing activities. The expediency of focusing on a proactive strategy in the implementation of marketing activities has been investigated. It has been studied that in recent years the tools of digital marketing have been constantly improved and this allows it to be considered as an opportunity to spend the marketing budget of enterprises more rationally. The portfolio of digital marketing tools can include content marketing, SEO, contextual and targeted advertising, advertising in social networks, e-mail marketing, influencer marketing, lead generation, complex analytics, viral marketing.

Development of an integrated model for SME marketing and CRM optimization

The development of an integrated model for optimizing marketing and customer relationship management (CRM) in small and medium-sized enterprises (SMEs) presents a crucial advancement in enhancing business competitiveness and customer engagement. This paper proposes a unified model that merges scalable software solutions for social media analytics with AI-driven CRM to provide a comprehensive framework for SMEs to enhance their marketing strategies and customer interactions. Social media platforms have become vital channels for customer outreach, engagement, and feedback, yet SMEs often face challenges in leveraging these platforms due to limited resources and expertise. Integrating social media analytics into CRM systems offers businesses the ability to analyze customer behaviors, preferences, and sentiment on a large scale. The proposed model utilizes artificial intelligence (AI) to streamline customer interactions, enabling personalized communication and improving customer retention. By incorporating AI into CRM, SMEs can automate routine tasks, such as responding to customer inquiries and segmenting audiences based on their social media activity. This allows for more efficient marketing strategies and enables businesses to proactively address customer needs, ultimately driving customer loyalty and long-term growth. Furthermore, the unified model focuses on scalability, ensuring that SMEs can adopt and adapt these technologies according to their evolving needs and resources. This paper also explores the benefits of integrating these technologies, including the potential for improved data-driven decision-making, enhanced customer experience, and increased operational efficiency. In conclusion, this integrated model presents a strategic pathway for SMEs to optimize their marketing and CRM efforts through the adoption of scalable, AI-driven tools that enhance customer engagement and boost business performance. Keywords: SME Marketing, CRM Optimization, Social Media Analytics, AI-Driven CRM, Customer Engagement, Scalable Software Solutions, Business Performance, Personalized Communication, Customer Retention, Data-Driven Decision-Making.

Reassessing the Constructs Related to Technology Adoption Theories in the Global Marketing Domain in Light of the Emergence of GenAI

The purpose of this study is to understand the opportunities and challenges for the global marketing field due to emergence of generative artificial intelligence and the need to reassess the constructs related to technology adoption theories. Given that this technology is so recent, there is a need to investigate this aspect. This study explores the influence of generative AI on various constructs from ten technology adoption theories, models, and approaches as they relate to the global marketing domain. This research study excludes other psychological and cross-cultural theories and constructs related to the domain. This study is unique for its wide range of implications toward the adoption of technology in global marketing initiatives because GenAI can assess consumer sentiment, which helps global marketers make accurate decisions.

Pristineness, heritage, and the dissociative power of place imaginaries: Marketing ‘dark places’ in global value chains

To qualify products as premium, branding and marketing initiatives often employ imaginaries about the product’s origin to invoke positive associations. Yet, little is known about the dissociative aspects of how these place imaginaries create value. In this paper I examine comparatively how in both one aesthetic and one relatively standardized agri-food market – wine and farmed salmon from Chile – imaginaries of pristine and traditional places are becoming central referents for product quality. I demonstrate how, in the context of rising sustainability demands in global value chains, the value of these place imaginaries lies not only in their power to create positive associations in the end market. Instead, they also help powerful actors to dissociate from locally contentious politics surrounding harmful social and environmental practices. The paper contributes to research on firms’ dissociative practices by disentangling the ideational and relational work through which value chain actors dissociate in qualification processes and draws implications for material changes in production systems in view of their environmental and social sustainability.

Proposed Strategy for Maintaining A Small-Family-Business Enterprise in a Competitive Property Market

This study addresses the growing challenges faced by small family businesses in the competitive property market by proposing strategic interventions specifically designed to sustain and enhance the viability of Allure Realty Group, a family-run enterprise established in 2012 in Jabodetabek. With increasing complexity in the property sector due to urbanization, shifting consumer demands, and stringent regulatory environments, the research aims to develop a robust strategic framework. The methodology involves a combination of qualitative and quantitative approaches, including surveys and interviews, to identify key problems and collect data. Analytical tools such as the Marketing Mix 7P, VRIO Framework, and STP Analysis for internal factors, and PESTLE Analysis, Porter’s Five Forces, Competitor and Customer Analysis for external factors are used to conduct SWOT and TOWS analyses for strategic development. The study hypothesizes that targeted strategies will significantly improve the business's resilience and competitiveness in the market. Key objectives include identifying challenges faced by Allure Realty Group, developing strategies to address these issues, and implementing actions to improve operational efficiency, customer satisfaction, and market expansion. The expected outcomes are enhanced operational frameworks, increased customer satisfaction, and a larger market share, contributing to the business's long-term sustainability. This research contributes to business management theory by providing insights into strategies for small family businesses in rapidly evolving markets. The findings aim to bridge traditional business values with modern management practices, offering valuable guidance for both academic researchers and business practitioners in navigating the complexities of the property industry.

The Process of Ecosystem Emergence for an Enabling Technology: The 5G Case

This study aims to investigate how the process of ecosystem emergence occurs with the advent of 5G technology, focusing on the challenges and opportunities for Mobile Network Operators (MNOs) in the enterprise market. For this purpose, an exploratory and qualitative multiple-case study was conducted, involving key players in the Italian 5G industry. The research analyses the roles and interactions necessary for creating a 5G ecosystem, emphasising the importance of cooperation among numerous stakeholders due to the complexity and specificity of 5G applications. The results indicate that 5G can be defined as an Enabling Technology (ET), However, it is still lacking the pervasiveness in terms of wide applicability associated with General-Purpose Technologies (GPTs). The successful development of a 5G ecosystem requires dual co-orchestrators: MNOs and intermediaries. MNOs alone are unable to properly manage the ecosystem due to the diverse and specific nature of 5G applications. Intermediaries by their side, provide essential technical and business expertise, supporting MNOs in creating value across various sectors. The study provides insights into the evolution of business models for companies leveraging 5G technology. It emphasises the need for strategic collaboration among stakeholders to maximise the potential of 5G, offering guidance for businesses on how to adapt and thrive in this emerging ecosystem. The originality of this study lies in its integration of two literature streams, the ecosystem one and the enabling technologies one. This research contributes to both literature streams by highlighting the co-orchestration model necessary for 5G. It underscores the challenges and characteristics of orchestrating an ecosystem driven by enabling technology, offering valuable perspectives for both academia and industry practitioners.