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The Tax Cuts and Jobs Act of 2017 (TCJA) substantially lowered the corporate tax rate, making tax-exempt municipal bond issues less attractive investments for banks, savings and loan associations and insurance companies. To provide a benefit for small issuers the current Internal Revenue Code has a special provision that allows banks and S&Ls to deduct 80% of the borrowing costs for “bank-qualified” bonds – tax-exempt bonds from issuers who issue no more than $10 million in bonds during a year. This study examines whether the relationship between the true interest cost (TIC) on bank-qualified bonds and other tax-exempt bonds changed with the passage of the TCJA.

Using linear regression analysis this paper compares the TIC of bank-qualified bonds with the TIC of bonds not bank-qualified using a sample of bonds both before and after the passage of TCJA.

Prior to the passage of the TCJA, this study observes that these “bank-qualified” bond issues had a lower true interest cost than other tax-exempt bond issues; however, after passage of the TCJA, the difference in the true interest cost between “bank-qualified” bond issues and other tax-exempt bond issues dramatically decreased.

It appears that the benefit for small bond issuers is greatly reduced after corporate tax rates were significantly lowered. If federal lawmakers wish small issuers to have the same advantage over other tax-exempt municipal bond issuers after passage of TCJA, some changes will need to be made to the Internal Revenue Code to give small issuers an additional advantage when issuing tax-exempt debt.

No other empirical research to date has examined the impact of TCJA on bank-qualified bond issue interest cost.

This paper aims to describe the design and evaluation of a pilot leadership development programme for infection prevention and control (IPAC) professionals during the COVID-19 pandemic. The programme’s aim was to improve IPAC knowledge and capacity in the health-care system by developing the leadership skills and capacities of novice and advanced Infection Control Professionals (ICPs), to respond flexibly, and competently, in their expanding and ever-changing roles.

The leadership programme was piloted with seven nurses, who were part of a clinical nursing team in New South Wales, Australia, over a 12-month period between 2021 and 2022. The programme was designed using a leadership development framework underpinned by transformational leadership theory, practice development approaches and collaborative and experiential learning. These principles were applied during programme design, with components adapted to learners’ interests and regular opportunities provided for collaboration in active learning and critical reflection on workplace experiences.

The authors’ evaluation suggests that the programme was feasible, acceptable and considered to be effective by this cohort. Moreover, participants valued the opportunities to engage in active and experience-based learning with peers, and with the support of senior and experienced ICPs. The action learning sets were well-received and allowed participants to critically reflect on and learn from one another’s experiences. The mentoring programme allowed them to apply their developing leadership skills to real workplace challenges that they face.

Despite a small sample size, the authors’ results provide empirical evidence about the effectiveness of using a practice development approach for strengthening ICP leadership capacity. The success of this pilot study has paved the way for a bigger second cohort of participants in the programme, for which further evaluation will be conducted.

The success of this leadership programme reflects both the need for leadership development in the IPAC professions and the applicability of this approach, with appropriate facilitation, for other professions and organizations.

ICP leadership programmes have not been previously reported in the literature. This pilot study builds on the growing interest in IPAC leadership to foster health system responsiveness and change.

The use of the concept of “agency,” in the sense of action that is to some extent free of “structural” constraints, has enjoyed enormous and growing popularity in the sociological literature over the past several decades. In a previous paper, we examined the range of theoretical rationales offered by sociologists for the inclusion of the notion of “agency” in sociological explanations. Having found these rationales seriously wanting, in this paper we attempt to determine empirically what role “agency” actually plays in the recent sociological literature. We examine a random sample of 147 articles in sociology journals that use the concept of “agency” with the aim of identifying the ways in which the term is used and what function the concept serves in the sociological explanations offered. We identify four principal (often overlapping) uses of “agency”: (1) purely descriptive; (2) as a synonym for “power”; (3) as a way to identify resistance to “structural” pressures; and (4) as a way to describe intelligible human actions. We find that in none of these cases the notion of “agency” adds anything of analytical or explanatory value. These different uses have one thing in common, however: they all tend to use the term “agency” in a strongly normative sense to mark the actions the authors approve of. We conclude that “agency” seems to serve the purpose of registering the authors' moral or political preferences under the guise of a seemingly analytical concept.

Customer experience is increasingly recognized as a source of competitive advantage. Customer experience refers to customers' responses and reactions to cues within touchpoints along customer journeys. Nowadays, customers often interact with online touchpoints – such as social media, websites, or e-commerce – in their customer journeys. Given that customer experience is multidimensional, this chapter addresses the following question: How can sensorial experiences be triggered in online touchpoints? Based on a review of the literature on customer experience and sensory marketing, four challenges in triggering sensorial experiences in online touchpoints are identified: (1) limited sensorial cues, (2) lack of thematic congruence between online and offline touchpoints, (3) sensory overload, and (4) lesser control over sensorial cues. Then, two routes through which organizations can trigger sensorial experiences in online touchpoints are proposed: (1) directly influencing sensations through sensory-enabling technologies, and (2) indirectly influencing sensorial perceptions through the use of sensory and nonsensory cues. The chapter closes with a presentation of a model that describes the process of triggering sensorial experiences in online touchpoints as well as a checklist of relevant questions for practitioners who wish to do so.

The purpose of the paper is to analyse the performances of closures and compressibility corrections classically used in turbulence models when applied to highly-compressible turbulent boundary layers (TBLs) over flat plates.

A direct numerical simulation (DNS) database of TBLs, covering a wide range of thermodynamic conditions, is presented and exploited to perform a priori analyses of classical and recent closures for turbulent models. The results are systematically compared to the “exact” terms computed from DNS.

The few compressibility corrections available in the literature are not found to capture DNS data much better than the uncorrected original models, especially at the highest Mach numbers. Turbulent mass and heat fluxes are shown not to follow the classical gradient diffusion model, which was shown instead to provide acceptable results for modelling the vibrational turbulent heat flux.

The main originality of the present paper resides in the DNS database on which the a priori tests are conducted. The database contains some high-enthalpy simulations at large Mach numbers, allowing to test the performances of the turbulence models in the presence of both chemical dissociation and vibrational relaxation processes.

This study explores the applicability of Anderson's (1999) code of the street framework to an Asian context by examining the relationship between residents' perceptions of police ineffectiveness, nationality, and street codes in foreigner-concentrated areas in South Korea.

The authors used survey data from 1,865 residents of diverse nationalities living in 20 foreigner-concentrated areas in South Korea. Mixed-effects ordinary least squares (OLS) regression and moderation analysis were used to examine (1) the association between residents' perceptions of police ineffectiveness and their street codes and (2) how this association varies across nationality groups.

The study findings overall indicated that higher resident perceptions of police as ineffective tended to correspond with greater levels of street codes. However, the interaction analysis results found that this relationship was conditioned by nationality. Specifically, perceptions of police ineffectiveness were associated with greater levels of street codes among foreign residents, particularly Korean-Chinese residents, whereas this was not the case among Korean residents.

The relationship between perceptions of the police and street codes described by Anderson (1999) has primarily been examined in the context of the U.S. To the best of the authors' knowledge, this study represents the first attempt to explore the link between residents' perceptions of the police and street codes by different nationality groups within an Asian setting.

The detrimental effects of increased workloads and high-stakes accountability that impact on teachers’ job satisfaction and wellbeing have been well documented in the international literature (Holloway et al., 2017; Perryman et al., 2011). This chapter will explore the factors which influence staff mental health and wellbeing in schools. The authors unpack issues of burnout, job satisfaction and teacher attrition. The authors consider the concept of teacher resilience by situating resilience within a socio-ecological framework. Specifically, the authors draw on Greenfield’s (2015) model of teacher resilience. The authors draw on our own research to explore the relationship between staff wellbeing and student wellbeing (Glazzard & Rose, 2020). In addition, the authors consider the specific issues related to the wellbeing of school leaders.

This chapter describes the redevelopment of the Open Language Chief Executive Personality Tool (OLCPT), a language-based machine learning (ML) tool for assessing executives' traits along the five factor model (FFM) of personality (openness to experience, conscientiousness, extraversion, agreeableness, and neuroticism). Whereas the initial release of the OLCPT demonstrated the viability of using supervised machine learning to unobtrusively assess executives' personality traits, recent advances in artificial intelligence (AI) related to large language models (LLMs) warranted revisiting its development. After applying LLM embeddings and performing other updates, including expanding the training sample, the redeveloped tool (available at https://zenodo.org/records/10800801) achieved substantially higher convergent validity than the initial release. The updated tool also demonstrates strong discriminant validity and reliability, and it can measure traits not included in the initial version (narcissism and humility). These improvements demonstrate the potential value of continuously updating existing, computer-aided measures in strategy and management research. Yet, such efforts may not always be feasible or even necessary. Thus, we also use this chapter to offer guidelines for determining when updating similar measures is worthwhile, urging scholars to carefully consider how existing tools perform and the relevance of advancements to the technologies underlying them. We conclude with additional suggestions for advancing measurement in our field, including keeping up with emerging technologies, encouraging complementary approaches to enable triangulation, avoiding the use of advanced techniques without carefully considering their applicability in a given context, and being realistic about what we ask for during the review process and what we consider a meaningful contribution in our field.