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Using a substantial sample of U.S.-listed firms’ Seasoned Equity Offerings (SEOs) spanning the period from 2012 to 2017, we examine the relationship between hierarchical complexity and the selection of SEO methods.

We employ multinomial logistic regression to examine the influence of hierarchical complexity on the choice among various SEO techniques. To strengthen the robustness of our results, we employ a two-stage-least-squares (2SLS) analysis and utilize propensity score matching to address potential endogeneity issues and mitigate self-selection bias, respectively.

The research indicates that companies characterized by high levels of hierarchical complexity tend to steer clear of accelerated offerings but exhibit a preference for rights offerings over firm commitment offerings. This tendency is plausibly attributed to the impact of hierarchical complexity, which diminishes information transparency and heightens information asymmetry. Furthermore, the study highlights a negative association between hierarchical complexity and firm value following SEOs.

While an expanding body of evidence establishes a connection between hierarchical complexity and various firm- or market-specific activities, to the best of our knowledge, there are no specific empirical studies that have investigated how hierarchical complexity impacts equity offering strategies. Building on the established correlation in previous research between hierarchical complexity, information transparency, and asymmetric information, and recognizing the critical role of information in the selection of SEO methods, our study reveals that hierarchical complexity may diminish information transparency, heighten information asymmetry, and hinder outside investors from fully grasping a firm’s actions and outcomes. Consequently, this influence extends to the methods of offerings chosen by listed companies.

By anchoring on the ability-motivation-opportunity (AMO) framework, this research aims to examine the effect of tourists' green ability, motivation and opportunity to access green information on digital media platforms (green AMO) on their intention to stay at green hotels. The study also tests the moderating role of environmental concern and the mediating role of green attitude in this relationship.

An online survey was conducted on large Facebook groups and by an international tour operator in March 2022. Through convenience sampling, 600 responses were collected from local and international tourists. Partial least squares structural equation modeling was performed to validate the research model.

The results reveal that tourists' intention to stay at green hotels is positively affected by their green AMO through indirect and direct channels. Specifically, green AMO indirectly effects tourists' intention to stay at green hotels by raising their green attitude. The results also indicate that the direct effect is moderated by environmental concern.

The findings demonstrate the importance of facilitating tourists' access to environmental information on social media platforms, which enhances green attitude and intention to stay at green hotels. This study also proposes practical solutions that managers of green hotels can employ to target green-oriented customers and conduct environmental campaigns on digital platforms.

The research is the first to investigate the effects of tourists' green AMO on their intention to stay at green hotels. It is also the first to explore the roles of environmental concern and green attitude in this relationship.

This paper examines how a firm's hierarchical complexity, which is determined by the way it organizes its subsidiaries across the hierarchical levels, can impact its stock price crash risk.

The authors employ a measure of hierarchical complexity that captures the depth and breadth of how subsidiaries are organized within a firm. This measure is calculated using information about firms' subsidiaries extracted from the Bureau van Dijk (BvD) database that allows the authors to construct each firm's hierarchical structure. The data sample includes 2,461 USA firms for the period from 2012 to 2017 (11,006 firm-year observations). Univariate tests and panel regression are used for the main analysis. Two-stage-least-squares (2SLS) instrumental variable regression and various other tests are employed for robustness check.

The results show a positive relationship between hierarchical complexity and stock price crash risk. This relationship is amplified in firms with a greater number of subsidiaries that are hierarchically distanced from the parent company as well as in firms with a greater number of foreign subsidiaries in countries with weaker rule of law.

This paper is the first to investigate the impact hierarchical complexity has on crash risk. The results highlight the role that a firm's organizational structure can have on asset pricing behavior.

This study aims to quantify the influence of urbanization on housing prices at the district-based level, while also investigating the heterogeneous impacts across different quantiles of housing prices.

The study uses remote-sensed spectral images from the Landsat 7 ETM+ satellite to measure urbanization, replacing prior reliance solely on urban population metrics. Subsequently, the two-step system generalized method of moments is used to evaluate how urbanization influences district-based housing prices through three spectrometries: Urban Index (UI), Normalized Difference Built-up Index (NDBI) and Built-Up Index (BUI). Finally, this study examines the heterogeneous impacts across various housing price quantiles through Dynamic Panel Quantile Regression with non-additive fixed effects under Markov Chain Monte Carlo simulation.

The study demonstrates that urbanization leads to an increase in regional housing prices. However, these impact magnitudes vary across housing price quantiles. Specifically, the impact exhibits an inverse V-shaped curve, with urbanization exerting a more pronounced influence on the 60th percentile of housing prices, while its effect on the 10th and 90th percentiles is comparatively weaker.

This study uses a novel method of remote sensing to measure urbanization and investigates its effects on housing prices. Furthermore, it provides an empirical application of non-additive fixed effect quantile regression for analyzing heterogeneity.

This paper aims to assess the economic impacts of the European Union’s Carbon Border Adjustment Mechanism (CBAM) on Vietnam.

We constructed a general equilibrium model to assess the economic impacts of the CBAM on the macroeconomic indicators of Vietnam. We also constructed a generic partial equilibrium model to provide a zoomed-in view of the impact on each group of CBAM-targeted commodities, which is not possible in the general equilibrium model. Both the general equilibrium and the partial equilibrium models were calibrated with publicly available data and a high number of value sets of hyperparameters to estimate the variations of the estimated impacts.

The results suggest that the current form of the EU’s CBAM is unlikely to produce substantial effects on the overall economy of Vietnam, mainly because the commodities affected by it represent a small portion of Vietnam’s exports. However, at the sectoral level, the CBAM can reduce production outputs and export values of steel, aluminium, and cement.

The CBAM by itself may not lead to significant decreases in greenhouse gas emissions, but it could provide a rationale for implementing carbon pricing strategies, which might result in more significant economic effects and help in reducing greenhouse gas emissions. This highlights the necessity of supplementary policies to tackle global climate change.

We constructed economic models to evaluate the impacts of the European Union’s Carbon Border Adjustment Mechanism on Vietnam, both at the macroeconomic level and zooming in on directly impacted groups of commodities.

This study aims to examine the determinants of Generation Z's intention to support sustainable development in tourism, with a focus on Nha Trang, Vietnam (a coastal city with famous tourism activities).

The study was conducted with an aid of SPSS 20.0 and SmartPLS 4.0 softwares to analyze the data collected from 394 valid respondents in Ho Chi Minh City through a cross-sectional method with a self-administered survey.

Empirical evidence revealed that sustainable tourism attitude, sustainable tourism belief and perceived sustainable destination image positively influenced Generation Z's support intentions toward sustainable tourism. In addition, perceived sustainable destination image also indirectly impacted intention to support sustainable tourism through the sustainable tourism attitude and/or belief (both single and sequential mediations).

This is among pioneering studies to figure out that knowledge negatively moderated the relationship between sustainable tourism attitude and intention to support sustainable tourism.

This paper considers the importance of prohibitive voice in organizations' health. This study aims to explore the role of ethical leadership, reflective moral attentiveness and leader identification.

Two waves of data collection were conducted, including 534 responses in T1 and 242 in T2. This research evaluated hypotheses using Partial Least Squares Structural Equation Modeling approach with Smart PLS 3.2.9.

Ethical leadership has a direct positive effect on employees' prohibitive voice. Furthermore, reflective moral attentiveness mediates the associations between ethical leadership and prohibitive voice. Finally, leader identification moderates only the relationship between ethical leadership and employees' moral behavior (prohibitive voice), not moral cognition (reflective moral attentiveness).

This paper provided insight into how and when ethical leaders could promote prohibitive voice behavior. Specifically, the authors explored the mediating role of reflective moral attentiveness and the moderating role of leader identification.

Service providers and tourism players have introduced the green hotels concept to mitigate detrimental environmental impact. This study aimed to review the literature on green hotels based on bibliometric analysis.

In analyzing the potential and significant subject of the tourism industry and concern on environmental issues, this study evaluates the themes based on the past, present and future trends in green hotels from a bibliographic database retrieved from the Web of Science (WoS).

Several themes were identified from the role of the theory of planned behavior and predictors of consumers' intention to visit green hotels.

Implications were discussed mainly related to green hotels contribution towards sustainable tourism and its role in shaping the tourism sector's landscape. Among the practical implications include rewards by the authorities in the form of incentives or tax relief to green hotel operators, which will encourage conventional hotel transformation into green hotels. Furthermore, green hotels will be at the forefront of tourism and hospitality brands, requiring substantial green marketing initiatives. Sooner or later, opting for green hotels while traveling will be the norm among travelers.

The green hotels have emerged as a way to tackle the environmental issues related to tourism and hospitality while at the same time, allowing the industry to flourish. This research is one of the scant studies that provide a comprehensive overview about green hotel studies and offer future research agendas.

This paper aims to investigate the safe haven feature of Bitcoin, gold and two gold-backed cryptocurrencies (DGX and PAXG) against energy and agricultural commodities (crude oil, natural gas and wheat) during the COVID-19 pandemic, the Russia–Ukraine conflict and the Silicon Valley Bank (SVB) collapse.

The authors use the threshold GARCH (T-GARCH)-asymmetric dynamic conditional correlation (ADCC) model to evaluate the asymmetric dynamic conditional correlation between the return series and compare the diversifying, hedging and safe-haven ability of Bitcoin, gold and the two gold-backed cryptocurrencies (DGX and PAXG) against financial swings in the commodity market during the COVID-19 outbreak, the Russian–Ukrainian military conflict and SVB collapse. The authors also calculate the hedging ratios (HR) and hedging effectiveness index (HE). The authors finally use the wavelet coherence (WC) approach to check our results’ robustness and further investigate the impact of the three crises on the relationship between Bitcoin, gold gold-backed cryptocurrencies and commodities.

The results show that PAXG serves as a strong hedging instrument while gold, Bitcoin and DGX act as strong diversifiers during normal times. During crises, gold outperforms Bitcoin as a diversifier and a safe haven against commodities. Gold-backed cryptocurrencies also exhibit strong performance as diversifiers and safe havens. HR results indicate that Bitcoin and DGX are more cost-effective for commodities risk mitigation than gold and PAXG. In terms of hedging effectiveness, gold and PAXG emerge as the best hedging instruments for commodities, while DGX is considered the worst one. Bitcoin shows superior hedging against oil compared to wheat and gas risks. Moreover, the results of the WC approach confirm those of the T-GARCH-ADCC results in both the short and long run.

This paper provides a comprehensive analysis of the diversification ability of gold, Bitcoin and gold-backed cryptocurrencies during different crises (the COVID-19 pandemic, the Russia–Ukraine conflict and the SVB collapse). By taking into consideration gold-backed cryptocurrencies, the authors expand the understanding of safe havens beyond conventional assets.

The team collective voice (TCV) concept has received limited attention in existing research despite its potential significance, particularly within Eastern cultural contexts. Hence, this paper aims to extend the employee voice literature by conducting a comprehensive exploration of the role of TCV as opposed to individual voice (IV) in promoting team innovative performance (TIP).

The theoretical model is tested with survey data collected among ICT employees who work in large telecommunication organizations in Vietnam.

TCV was used more by participants than IV. Both IV and TCV exhibited noteworthy influences on TIP explained by the role of routine changes, with TCV serving as a full mediator for the relationship between IV and TIP. In addition, team autonomy (TA) also significantly enhanced TIP.

By measuring TCV as shared and consensus team voice, this study makes significant contributions to employee voice literature. It not only confirms the prevalence but also offers insightful explanations for why Vietnamese employees tend to favor TCV over IV. Additionally, the findings enrich the innovation literature by presenting a novel perspective on how employee voice can enhance TIP through the introduction of exogenous routine changes. It introduces a unique perspective on employee voice as a form of a search routine, distinct from Nelson and Winter's (1982) conceptualization of search, generating changes in lower-order routines, ultimately contributing to enhanced team innovation and performance.