PurposeAlthough the adoption of lean inventory management for performance improvement has been widely recognized, sticky inventory management is still a stopgap measure for new small and medium enterprises (SMEs) against survival risks. The purpose of this paper is to demonstrate the nonlinear relationship between new SMEs inventory stickiness and venture survival by focusing on the moderating effects of environmental dynamism and financial constraints.Design/methodology/approachClassical moderating model is employed to investigate the effects of environmental dynamism and financial constraints on the relationship between inventory stickiness and venture survival. This study uses the accelerated failure time model for survival analysis and tests the relationships based on a large set of new manufacturing SMEs in China over the period from 1999 to 2007.FindingsThe main finding is that inventory stickiness has an inverted U-shaped impact on the likelihood of survival. However, the inflection point of this inverted U-shaped relationship lies at the end of the sample. Further moderation analysis indicates that environmental dynamism positively moderates the inverted U-shaped relationship between inventory stickiness and venture survival, while financial constraints negatively moderate this relationship.Practical implicationsMost new SMEs have great potential to increase the likelihood of survival by improving inventory stickiness before achieving effective lean inventory management. Sticky inventory management can help new SMEs achieve better survival in a dynamic environment. However, new SMEs that are financially constrained should prudently implement sticky inventory management.Originality/valueThis paper contributes to the existing understanding about the likelihood of SMEs survival by addressing the role of sticky inventory management. It may be the first study to empirically demonstrate the moderating effect of environmental dynamism and financial constraints on the inverted U-shaped relationship between inventory stickiness and venture survival.

The synthesis and characterization of a series of biphenyl-derived binuclear ruthenium complexes with terminal {RuCl(CO)(PMe3)3} moieties and different structural arrangements of the phenyl rings are reported. Electrochemical studies revealed that the two metal centers of the binuclear ruthenium complexes interact with each other through the biphenyl bridge, and the redox splittings ΔE1/2 show a strong linear correlation with cos(2)  ϕ, where ϕ is the torsion angle between the two phenyl rings. A combination of electrochemical, UV/Vis/NIR, and in situ IR differential spectroelectrochemical analysis clearly showed that: 1) the intramolecular electronic couplings in the binuclear ruthenium complexes could be modulated by changing ϕ; 2) the electronic ground state of the mixed-valent cations changes from delocalized to localized through the biphenyl bridge with increasing torsion angle ϕ, that is, the redox processes of these complexes change from significant involvement of the bridging ligand to an oxidation behavior with less participation of the bridge.

The heterobinuclear complex OsCl(PPh)[CHC(PPh)CFcO] (Fc = (CH)Fe(CH)) (1) in which the two metal centers were connected by the skeleton of the osmafuran and cyclopentadienyl was synthesized via a one-pot reaction of OsCl(PPh) and FcCOC[triple bond, length as m-dash]CH in high yield. Three derivatives (Os(η-OCOO)(PPh)[CHC(PPh)CFcO] (2), Os(NCS)(PPh)[CHC(PPh)CFcO] (3), and OsCl(dppb)[CHC(PPh)CFcO] (dppb = PhP(CH)PPh) (4)) were obtained by the ligand substitution reactions of complex 1 with different reagents (CsCO (2), NaSCN (3) and dppb (4)), respectively. All of these complexes were characterized by NMR spectroscopy and elemental analysis and the structures of complexes 1, 3 and 4 were further confirmed by single crystal X-ray diffraction. Their electrochemical properties were studied by cyclic voltammetry and square wave voltammetry. The first redox wave was ascribed to the couple Os(ii)/Os(iii). All of these complexes exhibit two redox processes with a large peak separation. However, UV-Vis-NIR combined with theoretical calculation clearly indicated that (1) the Os center plays a major role in the one-electron oxidation process of heterobinuclear complexes 1-4 and the osmafuran could be better described as a carbene ligand; (2) the electronic communication between the Os and Fe center is absent, and the osmafuran with the electron-withdrawing phosphonium substituent actually functioned as an insulating bridge.

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