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This study highlights the influence of non-financial sustainability reporting and firm reputation (FR) on the China Stock Exchange. The study is based on the components of sustainability reporting that influence FR.

A simple ordinary least squares (OLS) regression model is initially run to test the hypotheses. Advanced econometric methods are used to detect the presence of heteroskedasticity. The study utilizes fixed-effect, two-stage least squares (2SLS) and two-step generalized method of moments (GMM) regression models to address endogeneity issues.

Findings suggest that NFSR has a negative influence on FR. Conversely, environmental, social and governance (ESG) sustainability reporting exhibited positive associations with a FR in fixed-effect, 2SLS and GMM results.

This study has limitations, and data collection is restricted to the period from January 2018 to June 2023, limiting the scope of findings due to data constraints. Brand equity measurement is considered only one aspect of a company's activities, and other methods can also be considered for measuring brand equity. Another limitation is a standardized method for measuring NFSR. While this study used the Arianpoor and Salehi (2021) model to measure sustainability reporting in the Chinese market, future research could explore different methods.

The findings of this study have important practical implications for corporate management, highlighting reputation challenges and the strategic importance of sustainability. Managers are encouraged to use NFSR strategically to enhance their reputation and corporate strategy.

The social implications highlight ownership and regulatory structures, promoting enhanced sustainability reporting in China's business culture. This insight informs policymakers, businesses and stakeholders regarding the importance of sustainability reporting, guiding decisions on corporate reputation and sustainability regulations.

The research indicates the importance of context-specific sustainability reporting for enhancing reputation. It provides insights into sustainability's impact on a company's reputation, promoting responsible practices for a sustainable global economy. To the best of the authors' knowledge, this is the first research that utilizes the NFSR frameworks and a sample of firms in China to discuss sustainability reporting with different guidelines.

This study aims to provide a framework for assessing the technical condition of a house to determine its market value, including the identification of other price-setting factors and their statistical significance. Time on market (TOM) in relation to the technical condition of a house is also addressed.

The primary database contains 631 houses, and the initial asking price and selling price are examined. All the houses are located in the Brno–venkov district in the Czech Republic. Regression analysis was used to test the influence of price-setting factors. The standard ordinary least squares estimator and the maximum likelihood estimator were used in the frame of generalized linear models.

Using envelope components of houses separately, such as the façade condition, windows, roof, condition of interior and year of construction, brings better results than using a single factor for the technical condition. TOM was found to be 67 days lower for houses intended for demolition – as compared to new houses – and 18 days lower for houses to refurbishment.

To the best of the authors’ knowledge, this paper is original in the substitution of specific price-setting factors for factors relating to the technical condition of houses as well as in proposing the framework for professionals in the Czech Republic.

Live streaming has become an extremely popular form of online service and allows live audiences to give virtual gifts or money to their favorite streamers. This study aims to investigate the impact of the audience's multidimensional social presence on their attitudes toward live streamers and intentions to give money or gifts to streamers, based on the interactive marketing perspective. This study considers live audiences' gift-giving intentions by integrating the theory of multidimensional social presence, which includes awareness, cognitive social presence and affective social interaction, and the theory of reasoned action (TRA).

This study invited audiences who had watched live streaming from several popular live-streaming platforms to respond to a web questionnaire. The unit of analysis was at the individual level. This study applied the purposive sampling technique for data collection. A sample of 258 eligible responses to the online survey was analyzed using SPSS software and the causal relationships between the measurement variables of this research model were verified through structural equation modeling.

The results indicate that the audiences' awareness of participating in live streaming enhanced their cognitive and affective social presence, which positively affected their attitudes toward live streamers. These attitudes had a further significant effect on their gift-giving intentions. Cognitive social presence and affective social presence were found to play significant mediating roles in the relationship between awareness and attitudes toward live streamers.

This study examines audiences' intention to give gifts to their favorite live streamers, based on the interactive marketing perspective. The interactive relationship between live streamers and online audiences is developed by audience members through the process of inner psychological transformation, which is measured through the multidimensional construct of social presence. This occurs through a mutual influence relationship in which awareness simultaneously influences cognitive social presence and affective social presence, and cognitive social presence impacts affective social presence.

The study contributes three noteworthy findings to the theory development through the integrated perspective of the TRA and the theory of social presence. (1) Exploring the influence of belief factors on internal psychological responses and intention in live streaming to expand an innovative application of the TRA. (2) Adopting the multidimensional social presence can help researchers more clearly describe various live-streaming situations and extend the research scope of the social presence theory to live-streaming interactive marketing strategies. (3) From the perspective of live-streamer marketing, this study broadens the research fields of electronic commerce and interactive marketing.

This study provides four practical implications for platform managers and live streamers. (1) To induce favorable attitudes toward live streamers, live streamers initiate various interactive activities sequentially to establish a social presence with the audience. (2) Live streamers should devote themselves to forming a joyful atmosphere for their followers, as this will trigger audiences' affective social presence to generate positive attitudes and increase followers' intentions. (3) To attract and retain young followers, live streamers must devise interesting content and provide fresh services. (4) Platform managers must create useful widgets to assist live streamers in managing their channels and followers.

Building friendly real-time interaction between the live streamer and the audience is an important task in live streaming and further influences the income of the live streamer and the platform. The study provides an effective approach to building friendly real-time interaction for the live streamer and manager of live-streaming electronic commerce through the interactive marketing perspective. The approach can help the live streamer manage nice communication with their audience and obtain virtual money and gift-giving from the audience.

The purpose of this study is to explore from a place attachment (PA) theory perspective the extent to which and how, a fully immersive virtual reality (VR) experience enhances tourists’ attachment level on-site at a rural destination.

This study applied an exploratory mixed method approach. Respondents were tourists visiting the Lake District National Park who were asked to try a VR experience. In Study 1, interviews were conducted to explore new themes and to develop an enhanced PA framework in VR. Study 1 confirmed existing variables from the literature and highlighted new variables (themes) to be included in the new framework on how PA is formed. In Study 2, surveys were conducted, and the proposed framework analyzed using structural equation modelling (PLS-SEM). To fully understand how VR had an impact on enhancing PA, the moderating effect of tourists’ pre-existing PA was considered.

The findings revealed “Accessibility”, “Memories” and “Increased Place Knowledge” as new themes (variables) and confirmed that these and established variables “Aesthetics” and “Presence” enhance PA, leading to increased loyalty. Significant moderating effects of existing PA were found.

VR serves as a complementary and substitutional tool for tourism. Tailored VR experiences for diverse tourist needs may enhance destination marketing and competitiveness. For tourists with low PA, destinations should focus on promoting activities and highlights to enhance engagement and the experiential understanding of the destination. For tourists with high PA, VR experiences should focus on providing a comprehensive view of the destination and unveiling new places. In both cases, the VR experience leads to deeper engagement with the destination and an increase in PA.

Research on the impact of VR on tourists’ PA is limited. To address this gap, this study’s theoretical contribution lies in developing and testing a PA framework within a VR and tourism context. This also includes the validation of new measurement items developed in relation to the new themes.

The current study explores two distinct augmented reality (AR) experiences (hedonic and utilitarian) to determine the drivers of satisfaction and word-of-mouth (WOM). Specifically, this research investigates how different AR characteristics (person–virtual environment (VE) interaction, novelty) impact reality congruence and immersion, which ultimately lead to satisfaction and WOM.

We tested the proposed model using a US consumer sample (N = 401) by applying partial least squares structural equation modeling (PLS-SEM) to reveal differences across the AR experiences regarding the mediating effects of immersion and reality congruence. Furthermore, we administered PLS-SEM multigroup analysis to identify differences for hedonic and utilitarian AR experiences.

This study provides important insights into the use of AR to create value-driven consumer experiences and outcome behaviors. Interacting with the virtual environment (VE) enhances immersion for hedonic AR experiences while it leads to higher levels of reality congruence for utilitarian AR experiences. While established relationships such as novelty to immersion continue to be significant, new constructs such as person–VE interaction and reality congruence immerge as stronger influences.

To date, most studies have implemented apps such as IKEA Place and have considered value as one comprehensive construct. However, limited research has examined differences in hedonic and utilitarian AR experiences. The current findings enhance the understanding of utilizing value-driven consumer experiences within the AR context to achieve desirable outcome behaviors.

This study aims to identify calendar anomalies that can affect stock returns and asymmetric volatility. Thus, the objective of this study is twofold: on the one hand, it examines the impact of calendar anomalies on the returns of both conventional and Islamic indices in Indonesia, and on the other hand, it analyzes the impact of these anomalies on return volatility and whether this impact differs between the two indices.

The authors apply the GJR-generalized autoregressive conditional heteroskedasticity model to daily data of the Jakarta Composite Index (JCI) and the Jakarta Islamic Index for the period ranging from October 6, 2000 to March 4, 2022.

The authors provide evidence that the turn-of-the-month (TOM) effect is present in both conventional and Islamic indices, whereas the January effect is present only for the conventional index and the Monday effect is present only for the Islamic index. The month of Ramadan exhibits a positive effect for the Islamic index and a negative effect for the conventional index. Conversely, the crisis effect seems to be the same for the two indices. Overall, the results suggest that the impact of market anomalies on returns and volatility differs significantly between conventional and Islamic indices.

This study provides useful information for understanding the characteristics of the Indonesian stock market and can help investors to make their choice between Islamic and conventional equities. Given the presence of some calendar anomalies in the Indonesia stock market, investors could obtain abnormal returns by optimizing an investment strategy based on seasonal return patterns. Regarding the day-of-the-week effect, it is found that Friday’s mean returns are the highest among the weekdays for both indices which implies that investors in the Indonesian stock market should trade more on Fridays. Similarly, the TOM effect is significantly positive for both indices, suggesting that for investors are called to concentrate their transactions from the last day of the month to the fourth day of the following month. The January effect is positive and statistically significant only for the conventional index (JCI) which implies that it is more beneficial for investors to invest only in conventional assets. In contrast, it seems that it is more advantageous for investors to invest only in Islamic assets during Ramadan. In addition, the findings reveal that the two indices exhibit lower returns and higher volatility, which implies that it is recommended for investors to find other assets that can serve as a safe refuge during turbulent periods. Overall, the existence of these calendar anomalies implies that policymakers are called to implement the required measures to increase market efficiency.

The existing literature on calendar anomalies is abundant, but it is mostly focused on conventional stocks and has not been sufficiently extended to address the presence of these anomalies in Shariah-compliant stocks. To the best of the authors’ knowledge, no study to date has examined the presence of calendar anomalies and asymmetric volatility in both Islamic and conventional stock indices in Indonesia.

The primary motive of the research paper is to investigate the efficiency of currency market of emerging economies (BRICS countries), by analyzing the presence and consistency of calendar anomalies – specifically the day-of-the-week (DOW) effect, the January effect and the Turn-of-the-month (TOM) effect. Daily data of around 23 years and 4 months were examined for the purpose of study. Segmented data of 8-year intervals were also analyzed to observe the changes in the pattern over a period. The findings are intended to offer insights into market behaviors and potential trading strategies for astute traders.

The study employed a quantitative research design utilizing ordinary least squares regression with dummy variables and Generalized AutoRegressive Conditional Heteroskedasticity (GARCH) (1,1) model. To study the calendar anomalies, the daily closing price of five currency pairs has been taken from Bloomberg’s software. The Kruskal–Wallis test was conducted to validate and check the robustness of analysis.

There are mixed results regarding calendar anomalies in the BRICS currency markets. Analysis of aggregate data revealed that DOW effect is present in all the currencies except USDZAR, with Monday showing positive return. The segmented analysis showed the presence of DOW effect in USDCNY and USDINR, while other currencies lacked consistent patterns. The January effect was evident for Indian Rupees and Chinese Yuan but not for other currencies. TOM effect was present only in Chinese Yuan. Overall, the Indian Rupee and Chinese Yuan displayed inefficiencies, indicating potential for trading strategies, while other currencies appeared efficient and lacked consistent patterns.

The literature on currency pricing anomalies is sparse, particularly in the context of developing and underdeveloped economies. While some research exists on anomalies within the currencies of developed nations, there is a significant gap in studies focusing on emerging economies. This paper seeks to address this deficiency by investigating the presence of calendar anomalies in the currencies of BRICS countries, providing new insights into the behaviors of these emerging economies.

Service failures evoke negative customer emotions, which human agents respond to through emotional labor. In turn, customers empathize with the human agent, providing a satisfying service recovery experience. However, robot agents could replace human agents and replicate emotional labor strategies. This study addresses whether customers empathize with apologetic robot agents and how it would affect the service recovery experience.

Drawing on emotional labor, social cognition and justice theory, two online scenario-based experiments (N1 = 411; N2 = 253) were designed in which customers watched a video simulating an interaction with a human or a robot agent during a service recovery procedure.

Study 1 shows that robot agents handle emotionally driven service recovery interactions and prompt desirable postrecovery behaviors (e.g. brand loyalty). Study 2 identifies customers’ empathy and compassion as mediators, explaining the effect of normative empathic display on customers' perceptions of interactional justice and behavioral intentions.

Robot agents are reliable substitutes for human agents in handling service recovery procedures. Customers can empathize with robot agents, leading to satisfying service experiences.

This study demonstrates customers’ capacity to empathize with robot agents during a service recovery procedure. It is also the first application in service research of the EmpaToM experimental procedure from social neuroscience to explore the social cognition dynamic between customers and service agents at the service encounter.

The use of augmented reality (AR) and experiential learning go hand in hand. Although AR learning opportunities have been well discussed, there is limited empirical research on the use of AR within higher education settings. Drawing from the uses and gratifications theory (U&GT), this study aims to explore the use of AR for learning satisfaction and student engagement, while also examining differences in learning styles.

This study used experiments with higher education students in the UK to explore the use of AR as part of the learning experience. Data from 173 students who experienced AR as part of their learning experience were analysed using partial least square analysis.

The authors found that hedonic, utilitarian, sensual and modality gratifications influence AR learning satisfaction and student engagement. Furthermore, the authors found differences between active and passive learners with regards to utilitarian (information seeking, personalisation) and sensual gratifications (immersion, presence) and effects on learning satisfaction.

This study developed and validated a U&GT framework incorporating different learning styles rooted in Kolb’s learning cycle. Findings provide important implications for the use of commercial AR applications as part of the learning experience within higher education settings.

This study aims to investigate the effect of virtual reality experience quality on destination visit intention and virtual reality travel intention through the technology acceptance model (TAM).

Quantitative data gathered from questionnaires applied to 198 people after undertaking an imaginary three-dimensional (3D) destination experience were analyzed with PLS-SEM.

Virtual reality experience quality influences perceptions and intentions. The perceived ease of use affects perceived usefulness, perceived usefulness effects attitude and destination visit intention, while perceived risk affects only virtual reality travel intention. Attitude affects both intentions.

The main limitation of the study relates to the quality of the experience offered, which is limited to the technical capacity of the virtual reality glasses used. Virtual reality can be used as a new economic offering and create a realistic destination experience. Virtual reality experience quality is an important determinant of intention in physical and imaginary travels, in shaping perceptions and minimizing travel risks. The explanatory power of the model can be increased by adding the perceived risk variable to TAM. The study has brought new perspectives, new insights and suggestions for developing tourism.

In the study, a 3D imaginary destination with its mise-en-scène and story, which includes more than one destination type, was designed. This study contributes to the literature by analyzing real and virtual visit intentions, combining the fields of the experience economy, risk perception and TAM.

本研究通过应用技术接受模型, 探讨虚拟现实体验质量对目的地参访意愿和虚拟现实旅游意愿的影响。旨在识别这些变量之间存在的关系, 并解释这些关系的因果链接。

本研究从198名参与虚拟三维目的地体验后填写的问卷中获得定量数据并通过PLS-SEM方法进行分析。

虚拟现实体验的质量影响用户的感知和意愿。虚拟现实旅游意愿仅受感知风险的影响。感知易用性影响感知有用性。意愿受态度影响, 但感知有用性不影响虚拟现实旅游。

本研究的主要局限性与提供的体验质量有关, 该质量受到虚拟现实眼镜技术能力的限制。虚拟现实可以作为一种新的经济提供方式进行开发。通过将感知风险变量添加到技术接受模型中, 可以增加模型的解释力。本研究为旅游业的发展提供了新的视角、见解和建议, 并解释了虚拟现实提供的真实目的地体。

为了研究的目的, 本研究设计了一个虚拟的三维目的地, 包含多个目的地类型。该目的地有自己的布景和故事情节。本研究通过分析真实和虚拟参访意愿的领域, 将体验经济、风险感知和技术接受模型领域相结合, 为文献做出了贡献。