Using publicly listed firms in the UK, we examine the time-series variation of investment-cash flow sensitivity after directly controlling for future growth opportunities in cash flow, which if overlooked, as in the literature, could bias inferences. We find that investment-cash flow sensitivity is disappearing over time, even for constrained firms during the global financial crisis when credit constraints were more significant or binding. Our results not only confirm the decline in investment-cash flow sensitivity that is not explained by factors so far identified in the literature but also its diminishing usefulness as a proxy of financial constraints.

PurposeThis study explores how factors arising from supply chain (SC) network and complexity work together in supply chain learning (SCL) behavior.Design/methodology/approachFuzzy set qualitative comparative analysis, which is an emerging configurational analysis method, was adopted to examine the complex combination of five influencing factors. The data were collected using a two-stage survey. First, the authors selected seven typical firms with an awareness of SCL. Second, questionnaires were sent to the partners of the seven selected firms, and 156 valid questionnaires were obtained from 76 firms.FindingsDrawing on emergent insights from the initiative, the authors find that multiple configurations of SC network and complexity lead to high SCL. Specifically, weak ties are necessary conditions of such learning, while strong ties are also conducive to this. Moreover, a moderate SC complexity is conducive to SCL.Practical implicationsThis study enriches the understanding of SCL and provides new insights for SC management practitioners to take measures to improve it.Originality/valueThis study addresses the lack of in-depth understanding of the antecedent conditions of SCL in the literature. It establishes an integrated and comprehensive theoretical framework of such learning based on contingency theory. Additionally, this study incorporates ambidextrous SCL (i.e. creation capability and dispersion capacity). An overall prototype of SCL capability is proposed on SC network and complexity theory.

Due to technological advancements, all types of businesses confront new opportunities. In the contemporary era of technology, innovation performs a key role in successful commercial landscape operations. Therefore, this research was conducted to examine the effect of the innovation network (IN) on organizational innovativeness (OI). Moreover, the mediating effects of frugal innovation (FI) and the moderating role of organizational readiness (OR) have also been examined. Data collection through a cross-sectional method was conducted for this study from SMEs. Some 442 managers and owners provided correct responses, which were used for further analysis. SEM was used for testing the hypotheses of the current study. The results showed that the innovation network positively affects organizational innovativeness. Furthermore, the outcomes also validated that frugal innovation plays a mediating role between the innovation network and the organizational innovativeness link. The SMEs working in the circular economy are mainly dependent on their innovative activities/actions. In the current dynamic scenario, the survival of SMEs is linked to continuous organizational innovativeness in their products/services.

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Modern Supply Chains are critical in terms of efficiency, economic activities and commercial impact, particularly in case of security incidents. Inland terminals, commercial ports and dry ports constitute key gateways for the transportation flows in these modern supply chains and are require enhanced security procedures. This paper develops a framework that facilitates the sharing of information among various supply chain stakeholders, which is expected to improve the security level from a value chain perspective. In this context, we propose the upgrade of the current security strategies utilizing existing processes, equipment in order to minimize time and cost currently needed but more importantly improving the level of security in the supply chain. A conceptual rule and role-based data fusion framework is developed enabling the seamless and timely exchange of messages. The proposed Data Fusion Framework has a simple architecture that supports quick integration to either network-based, distributed systems or conventional stand-alone systems and adheres to common data fusion principles. The proposed framework considers different components (e.g. sensors, algorithms and fusing procedures) in an equipment agnostic approach so as to enable easy access and easy usage of security information.

Given its unsustainable growth, the food packaging industry (FPI) has become a priority industry in the circular economy. Given the academic significance attributed to the gradations of circularity in maximising resource efficiency in the food packaging industry, this paper aims to identify the current state of the application of those gradations of circularity in the FPI by finding the least and most commonly used circular strategies in the FPI. Moreover, it aims to identify the drivers of and barriers to the implementation of the gradations of circularity and the levers for overcoming such barriers through SLR using multiple case studies, namely five small-medium enterprises (SMEs) in the FPI that each represent one of the five least implemented circular strategies. The research identified that the efforts of the FPI toward adopting circular strategies were not aligned with the gradations of circularity. Based on the research findings, a lever–barrier matrix is proposed as a toolkit for SMEs planning a transition toward the circular economy or are in the transition phase.

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This study aims to examine the direct effect of innovation capability on value creation. The mediating role of frugal innovation and the moderating role of knowledge sharing are also explored between innovation capability and value creation link. This exploratory study uses quantitative and cross-sectional data collected through questionnaires. Structural equation modelling (SEM) was used to examine the hypothesis. Findings show a significant positive impact of innovation capability on value creation. Results proved that frugal innovation mediates the relations between innovation capability and value creation. Knowledge sharing strengthens the association between innovation capability and value creation in their association. Our research provides a framework for the sustainable advancement of SMEs in a circular economy and recommends that they increase the value creation of the products/services through frugal innovation based on the innovation capabilities. Moreover, knowledge-sharing practices speed up the interplay between innovation capability and value creation in the circular economy.