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This study investigates the influence of nonfinancial 8-K disclosures released during the earnings announcement window on the abnormal trading activities of individual investors.
Abstract
Purpose
This study investigates the influence of nonfinancial 8-K disclosures released during the earnings announcement window on the abnormal trading activities of individual investors.
Design/methodology/approach
We employ regression analysis in this empirical study to examine the impact of nonfinancial 8-K filings on individual investors' abnormal trading activities.
Findings
Our results reveal that individual investors exhibit higher levels of abnormal trading activities when firms release nonfinancial 8-Ks during the (0,1) window of earnings announcements. This effect is observed for both buyer-initiated and seller-initiated transactions and is particularly pronounced for firms reporting an operating loss. Negative sentiment in 8-Ks significantly intensifies such effect. Additionally, we find that buy-sell consensus increases significantly with concurrent nonfinancial 8-Ks. This suggests that 8-Ks may reduce information noise, leading individuals to trade with greater conviction.
Originality/value
Our study examines the joint influence of nonfinancial 8-Ks and earnings announcements on individual investors' trading activities, thereby providing a novel perspective on the mechanisms through which 8-K filings affect individual investors' trading behaviors.
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Mostafa Oboudi, Ayatolah Momayez, Nader Seyyedamiri and Morteza Akbari
This chapter reviews Internet of Things (IoT) as a concept with bibliometric analysis using data selected from the Scopus database. The cited references included two clusters…
Abstract
This chapter reviews Internet of Things (IoT) as a concept with bibliometric analysis using data selected from the Scopus database. The cited references included two clusters. Also, co-occurrence keyword analysis found four groups. The first cluster shows IoT adoption in agriculture, manufacturing, logistics, and supply chain management. The second cluster includes behavioral models of IoT technology acceptance. The third cluster refers to the adoption of IoT and automation technology in intelligent buildings, smart homes, smart cities, and health care. Finally, the fourth cluster contains information management.
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Shekhar Misra, Kiran Pedada, Lee Ben, Raj Agnihotri and Ashish Sinha
Although the interest in firm media sentiment has been increasing, the impact of news media sentiments on consumers’ perception of firms’ offerings and, subsequently, their sales…
Abstract
Purpose
Although the interest in firm media sentiment has been increasing, the impact of news media sentiments on consumers’ perception of firms’ offerings and, subsequently, their sales remain unknown. This study aims to address this research question in this study. Furthermore, the authors consider the role of two boundary conditions, i.e., offerings’ similarity and offerings’ service ratio, that moderate the main relationship.
Design/methodology/approach
Using a comprehensive and novel data set of over 900 firms between 2009 and 2019 from multiple sources, this study addresses the research questions. The authors use a fixed effects panel regression model to estimate the model.
Findings
A firm’s news media sentiments can influence consumers’ perception of the corporate brand, thereby driving sales growth. This study finds that when a firm’s offerings are not differentiated from its competitors, news media sentiments become more important and so does when a firm offers more services than a product.
Research limitations/implications
To the best of the authors’ knowledge, this study is the first to assess customers’ responses as manifested in the sales growth of a firm’s offerings, using both primary and secondary data and analysis.
Practical implications
The findings provide actionable insights to managers by identifying specific offerings-related attributes – similarity and service ratio – where media sentiments play a critical role in influencing sales growth.
Originality/value
While existing studies in marketing have primarily considered user-generated social media sentiments, this study departs from this literature by investigating earned media sentiments through traditional media outlets such as newspapers and business magazines, which have rarely been studied in marketing.
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Narendra Gariya, Amir Shaikh, Anzar Ahmad, Kapil Sharma and Ashwini Sharma
Supply chain management (SCM) has evolved to fulfill the demands of the dynamic global business environment. The development of the Internet of Things (IoT), which offers…
Abstract
Supply chain management (SCM) has evolved to fulfill the demands of the dynamic global business environment. The development of the Internet of Things (IoT), which offers unmatched connectivity and real-time data insights, has further transformed SCM. This chapter provides an overview of SCM development and its integration with IoTs. This integration led to improved inventory control, supply chain optimization (SCO), and visibility which further enhances the conventional SCM and provides benefits, such as more accurate real-time tracking and monitoring, improved data analytics, more efficient logistics and transportation management, and reduced costs and wastages. However, despite these benefits, there are various associated challenges and concerns, like privacy and data security, compatibility and interoperability, implementation costs, returns on investment, trained workforce, and training requirements, which are required to be addressed. Additionally, the outcomes of this study and managerial implications are provided along with the future research scope. Overall, this chapter provides valuable insight into the transformative potential of IoT in SCM and practical suggestions on how managers can successfully navigate difficulties and get benefits from the IoT-SCM integration. Organizations can enhance their supply chain operations, efficiency, and innovation by actively confronting challenges and taking advantage of the opportunities provided by IoT technologies. This will ultimately result in the delivery of greater value to both stakeholders and customers.
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Colin J. Beck and Mlada Bukovansky
While oft-ignored, grievances remain a central part of revolutions. We argue that the theorization of grievances requires conceptually unpacking specific complaints and relating…
Abstract
While oft-ignored, grievances remain a central part of revolutions. We argue that the theorization of grievances requires conceptually unpacking specific complaints and relating them to mobilizing mechanisms. We thus focus on one set of grievances – corruption – that is especially prevalent in 21st century revolutionary episodes. Drawing on prior conceptualizations of corruption, we hypothesize that four different configurations of corruption influence five different mechanisms of contention. First, everyday street-level corruption creates the potential for sudden and spontaneous protest and creates the basis for widespread, coalitional mobilization. Second, institutional corruption focuses attention on the regime to make it a target of revolutionary claims. Third, competition among elites creates the potential for cross-class alliances but may forestall durable sociopolitical change and, in some cases, even allow for authoritarian consolidation of power through anti-corruption drives. We illustrate these dynamics through one clearly successful case of revolution in Tunisia in 2011, one case of mixed results from political revolution in Ukraine from 2004 to 2014, and a negative case of revolution in China since 2013.
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Gary Chen, Darren Roulstone and Jie Zhou
We examine the role of internet speed in sophistication among individual investors.
Abstract
Purpose
We examine the role of internet speed in sophistication among individual investors.
Design/methodology/approach
This paper utilizes archival data and regression-based analyses in examining the research question.
Findings
We first show that higher individual investor internet speed (IIIS) is associated with geographic measures of education, job type and income of users accessing EDGAR filings. We then show that higher IIIS is positively related to the market reaction to newly released 10-K, 10-Q and 8-K filings and that the relation is stronger for companies and filings where greater sophistication is needed. Higher IIIS is also associated with a lower price drift after the release of a 10-K, 10-Q and 8-K filing on EDGAR.
Originality/value
Overall, our findings suggest that greater internet access speeds can aid in the sophistication and price discovery process for individual investors.
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Coparenting is a complex construct showing the quality of parental beliefs, motives, and actions related to cooperation in the child-rearing process. Its important role has been…
Abstract
Coparenting is a complex construct showing the quality of parental beliefs, motives, and actions related to cooperation in the child-rearing process. Its important role has been proven in child development and in shaping parents’ quality of life outcomes or marital satisfaction. This chapter presents the results of a study aimed at exploring the significance of selected parenting and child-related variables for the various components of coparenting in families with a child with disabilities. Material was collected in a group of 118 parenting couples using The Coparenting Relationship Scale. It was found that fathers scored higher in Coparenting Undermining and Endorse Partner Parenting. The variable of education was significant: parents with higher education showed the highest parental compatibility, and mothers also showed relatively highest satisfaction with the division of responsibilities. Parental age, age, and gender of the child with a disability were not significant. Difficult behaviors in the child correlated negatively with favorable coparenting components in parents and positively with unfavorable ones. Functional status was negatively associated with Coparenting Agreement and Endorse Partner in fathers. The complementarity of parental roles must be taken into account in the process of specialized support from psychologists, school counselors, social workers, etc.
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Mayank Parashar, Ritika Jaiswal and Manish Sharma
In the era of Industry 5.0, understanding the balance between environmental, social, and governance (ESG) and firm performance is crucial for mitigating climate change and…
Abstract
Purpose
In the era of Industry 5.0, understanding the balance between environmental, social, and governance (ESG) and firm performance is crucial for mitigating climate change and enhancing financial outcomes. This paper aims to analyze the effect of ESG disclosure on the financial performance (FP) of renewable and clean energy (RCE) companies, focusing on the combined ESG disclosure and individual E, S, and G disclosure scores.
Design/methodology/approach
The study analyzed a panel data sample from 2015–2021, covering 41 RCE companies. By applying the K-means++ clustering technique, the research also explored how firm-specific features influence the relationship between ESG disclosure and FP. The Bloomberg database and audited financial reports were used to gather the data for the study.
Findings
The findings indicate that increased ESG disclosure positively influences FP. Further, a significant positive relationship exists between FP and a company’s E and S disclosure. However, firm-specific characteristics significantly influence this relationship. Findings suggest that a company’s commitment to comprehensive ESG efforts enhances financial efficiency rather than increasing costs.
Originality/value
This study adds to the ESG-FP literature by emphasizing global RCE companies, a key player in sustainability. Further, to the best of the author’s knowledge, the study’s uniqueness is attributed to its application of a two-step approach, combining ESG-FP analysis with K-means++ clustering to account for firm-specific characteristics. It also uniquely examines the individual impact of E, S, and G disclosure on the FP of global RCE companies. The findings offer valuable insights for businesses and policymakers in developing strategies that improve profitability while addressing climate change risks.
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Ismail Ben Douissa and Tawfik Azrak
This study aims to investigate the existence of bubbles and their contagion effect in crude oil and stock markets of oil-exporting countries Gulf Cooperation Council (GCC) from…
Abstract
Purpose
This study aims to investigate the existence of bubbles and their contagion effect in crude oil and stock markets of oil-exporting countries Gulf Cooperation Council (GCC) from 2016 to 2021.
Design/methodology/approach
The authors use Generalized Sup augmented Dickey–Fuller (GSADF) and Backward Sup augmented Dickey–Fuller (BSADF) to significantly identify multiple bubbles stock and oil markets with precise dates. Furthermore, the authors check the contagion effect of bubbles between crude oil and GCC stock markets based on the time-varying Granger causality test.
Findings
First, the authors find empirical evidence of downwards bubbles in crude oil prices and in all GCC stock indexes (except the Saudi stock index) during the corona virus disease 2019 (COVID-19) outbreak. Second, the authors do not detect empirical evidence of bubble transmission between crude oil markets and GCC stock markets (except with the Dubai Financial Market index).
Practical implications
The findings of this study would illuminate policymakers not to limit the factors of systematic financial crises in oil-exporting countries to crude oil and to consider factors such as monetary policy and economic diversification measures. This study has also crucial implications for investors. In fact, investors should not ignore the responses of the stock markets to oil price shocks that are heterogeneous across countries when looking for investment opportunities in the GCC region.
Originality/value
The study justifies the changing nature of the bubble contagion effect through the novel implementation of the time-varying Granger causality test to detect whether bubble contagion exists between oil and GCC stock markets and if that does, in which direction.
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Yassine Khalfi, Bachir Bouiadjra and Mawloud Titah
This paper introduces a closed-form solution for analyzing the buckling behavior of orthotropic plates using a refined plate theory with four variable parameters, leveraging a new…
Abstract
Purpose
This paper introduces a closed-form solution for analyzing the buckling behavior of orthotropic plates using a refined plate theory with four variable parameters, leveraging a new hyperbolic shear displacement model.
Design/methodology/approach
The proposed theory incorporates a quadratic variation of transverse shear strains across the plate’s thickness and satisfies zero traction boundary conditions on both the upper and lower surfaces without employing shear correction factors. The governing equations are derived from the principle of minimum total potential energy. Closed-form solutions for rectangular plates, with two opposite edges simply supported and the remaining two edges subjected to arbitrary boundary conditions, are obtained using the state space approach to the Levy-type solution. Comparative studies are conducted to validate the accuracy of the obtained results.
Findings
The paper successfully examines and discusses in detail the effects of boundary conditions, loading conditions, variations in modulus ratio and thickness ratio on the critical buckling load of orthotropic plates.
Originality/value
This study presents a novel and precise method for evaluating the buckling behavior of orthotropic plates. The refined plate theory, without the need for shear correction factors, offers significant insights and improvements in understanding the critical buckling load under various conditions, contributing valuable knowledge to the field of structural analysis.
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