This article explores the impact of green manufacturing practices, disentangled in green activities, green investments, and the type of product made, on the economic performance of firms. Using survey data collected by European Commission from European small-and medium-sized enterprises (SMEs), we adopt the selfdetermination theory to investigate the extent to which the number of green activities, green investments, and type of product made affects a firm's economic performance. We argue that consumers are affected by firms' green manufacturing practices in response to the pressing environmental issues affecting our era. Our results reveal that while the number of green activities has a positive effect on economic performance, the amount of green manufacturing investments has an inverted U-shaped relationship to economic performance and that this effect is positively moderated if a company also sells non-green products. Our study contributes to the literature on green manufacturing by dissecting the effect of green manufacturing practices on a company's economic performance. Our findings also provide managers with advice on the right balance of green practices that most benefit their companies.

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PurposeThis paper adopts an intellectual capital perspective to investigate the role of owners who are ethnic minorities in the foreign market expansion performance of SMEs, and in particular considers the human capital dimension of intellectual capital.Design/methodology/approachBased on the empirical investigation of a sample of 10,326 small- and medium-sized US high-tech manufacturing enterprises, the authors’ results reveal a positive relationship between the number of foreign markets where these SMEs operate and their financial performance, and that this effect is reinforced by the presence of ethnic minority owners, as ethnic minorities constitute a valuable source of intellectual capital which bring value to firms.FindingsThe authors’ findings reveal the importance of intellectual capital in an SME’s leadership position, specifically in terms of having individuals from normally disadvantaged groups as owners. In this sense, policymakers are crucial in supporting the inclusion of ethnic minorities in SME ownership, through advantageous treatment in firms, for example.Practical implicationsThe study presents practical implications for managers seeking foreign market expansion. In addition, when defining ownership structure (e.g., in the start-up phase), the role of human capital, in the form of ethnic minorities, should not be neglected, especially if an SME intends to operate or is already operating in different national contexts.Originality/valueThe authors’ results provide important insights into the positive effect of human capital on SME foreign market performance. The idea of a moderating role played by owners from ethnic minorities suggested here contributes to the literature on human capital and is one of the first attempts to consider this moderating factor in this relationship, especially in the SME context.

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The circular economy (CE) can bring benefits but also pitfalls to the production processes, affecting a firm's economic performance. Using data from European SMEs, we empirically investigate, from the perspective of self-determination theory, the extent to which the breadth of CE activities, that is, the number of CE activities undertaken by a firm, affects a firm's economic performance. Our study theorizes and shows that there is an inverted U-shaped effect brought about by the number of CE activities on economic performance. This research advances our scientific understanding of the CE and provides managers with suggestions on how to maximize the benefits generated by the CE in terms of economic performance by implementing the right amount of CE activities.