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This paper aims to appraise the effectiveness of gender quotas in breaking the glass ceiling for women on boards (WoBs) in companies that are legally obliged to comply with quotas (listed companies and state-owned companies, LP) and in those that are not (unlisted companies and nonstate-owned companies, NLNP). Furthermore, it investigates the glass cliff phenomenon, according to which women are more likely to be appointed to apical positions in underperforming companies.

A balanced panel data of the top 116 Italian companies by total assets, which are present in both 2010 and 2017, is used for estimating ANOVA tests across sectors and fixed-effects panel regression models.

WoBs significantly increased in both the LP and the NLNP companies, and this increase was greater in the financial sector. Furthermore, the relationship between the percentage of WoBs and firm performance is not linear but depends on the financial corporate health. Specifically, the situation in which a woman ascends to a leadership position in challenging circumstances where the risk of failure is high (glass cliff phenomenon) is only present in companies with the lowest performance in the sample, in other words, when negative values of Roe and negative or zero values of Roa occur together.

These findings have relevant policy implications that encourage the adoption of gender quotas even in specific top positions, such as CEO or president, as this could lead to a “double spillover effect” both vertically, that is, in other job positions, and horizontally, toward other companies not targeted by quotas. Practical interventions to support women in glass cliff positions, on the other hand, relate to the extent of supervisor mentoring and support to prevent women from leaving director roles and strengthen their chances for career advancement.

The authors explore the ability of gender quotas to break through the glass ceiling in companies that are not legally obliged to do so, and to the best of the authors’ knowledge, for the first time, the glass cliff phenomenon in the Italian context.

Via dialectical perspective and configurational approach, this paper aims to explore the relationship between female representation and long-term firm performance when combined with environmental conditions.

For necessary condition analysis and time-series qualitative comparative analysis, a sample of 614 listed Chinese manufacturing firms between 2017 and 2020 was obtained.

The inclusion of female executives can aid firms in their long-term performance and resilience. Seven configurations, categorized as chimpanzee type, African elephant type and queen bee type, can prompt long-term firm performance. Chimpanzee-type configuration is the most prevalent path for firms to achieve long-term performance.

Firms could reconsider the role of female executives in achieving long-term success, assist in breaking the invisible “glass ceiling” and “glass cliff,” and refrain from viewing them as mere “tokens.” Policymakers can improve female representation by institutionally guaranteeing women’s opportunities for empowerment, education and promotion.

This study presents evidence for the legitimacy of female representation by demonstrating the intricate causality between female representation and firm performance beyond the controversy between business ethics and coercive policy. This paper also builds upon and extends the literature on female representation and provides alternative ways to improve female representation by combining female executives’ percentages, professionalism and positions.

This paper aims to use three proxy variables – initial public offerings, trading volume and business confidence index (BCI) to construct an investor sentiment index both for the USA and China, taking into account the challenging periods of the COVID-19 pandemic and the Russo-Ukrainian conflict.

Based on monthly data for a period from January 2009 to June 2022, this paper uses data of BCI, consumer confidence index (CCI), gross domestic product, trading volume and Fama and French (1993) factor data; linear regression of single and multifactor model; and EGARCH-M model for analyzing the effect of investor sentiment on stock market return and volatility, both in the USA and China.

The empirical results indicate the suitability of BCI over CCI as a measure of investor sentiment, both in the USA and China. The results indicate that investor sentiment has a significant positive effect on the excess returns in the stock market in both countries. Moreover, the effect of investor sentiment is higher in China than it is in the USA. Such an effect of investor sentiment is significant and fluctuates asymmetrically in the short run but loses its significance in the long run. Optimistic investor sentiment has a larger effect on the stock market volatility in the USA, while the pessimistic investor sentiment has a larger effect in the Chinese stock market.

This paper focuses on finding a more suitable proxy for investor sentiment from BCI or CCI. This paper also contributes by including both optimism and pessimism in explaining the stock return and volatility in both markets. The overall findings are important for understanding investor behavior in different market conditions.

This study aims to evaluate the influence of institutions on the probability of becoming a social entrepreneur and the effect of this choice on individual economic well-being. The authors also analyze the effects of gender (male versus female entrepreneurism) and type (traditional versus social entrepreneurism).

Institutional economics framed the analysis, and hypotheses were tested using two-stage probit least squares models in a sample of 69,236 individuals from 57 countries during the 2010–2014 wave from the World Values Survey.

The results showed that, for most variables, institutions significantly explained the probability of becoming a social entrepreneur. The analyses also indicated that social entrepreneurship is highly associated with individual economic well-being.

This research brings insights into the discussion of the social and economic benefits of socially oriented entrepreneurs. Likewise, the modeling approach overcomes the interplay between entrepreneurship and economic outcomes, in which institutions become key factors.

Este estudio evalúa la influencia de las instituciones en la probabilidad de convertirse en un emprendedor social y el efecto de esta elección en el bienestar económico individual. También se analizan los efectos del género (emprendimiento masculino versus femenino) y del tipo (emprendimiento tradicional versus social).

La economía institucional es el marco para el análisis e hipótesis, las cuales se evaluaron utilizando modelos probit de mínimos cuadrados de dos etapas (2SPLS) en una muestra de 69.236 personas de 57 países durante la ola 2010–2014 de la Encuesta Mundial de Valores.

Los resultados mostraron que, para la mayoría de las variables, las instituciones explicaron significativamente la probabilidad de convertirse en un emprendedor social. El análisis también indicaró que el emprendimiento social está altamente asociado con el bienestar económico individual.

Esta investigación aporta información sobre el debate alrededor de los beneficios sociales y económicos de los emprendedores con orientación social. Asimismo, el enfoque de modelización resuelve la interdependencia entre el emprendimiento y variables económicas, en la que las instituciones son factores claves.

Este estudo avalia a influência das instituições na probabilidade de se tornar um empreendedor social e o efeito desta escolha no bem-estar económico individual. Os efeitos do género (empreendedorismo masculino versus feminino) e do tipo (empreendedorismo tradicional versus social) também são analisados.

A economia institucional é a estrutura para a análise e hipóteses, que foram avaliadas usando modelos probit de mínimos quadrados em dois estágios (2SPLS) em uma amostra de 69.236 pessoas de 57 países durante a onda 2010–2014 dos Valores Mundiais Pesquisa.

Os resultados mostraram que, para a maioria das variáveis, as instituições explicaram significativamente a probabilidade de se tornar um empreendedor social. A análise também indicou que o empreendedorismo social está altamente associado ao bem-estar económico individual.

Esta investigação fornece informações sobre o debate em torno dos benefícios sociais e económicos dos empreendedores de orientação social. Da mesma forma, a abordagem de modelização resolve a interdependência entre o empreendedorismo e as variáveis económicas, nas quais as instituições são fatores-chave.

This article delves into a theoretical framework evaluating the outcomes of justice perception (JP) on post-complaint behaviors. In addition, this article intends to facilitate service strategists to tailor service recovery efforts to attain a competitive gain.

We explored the complex relationships between JP and positive word-of-mouth (PWOM), evaluating the role of recovery disconfirmation (RD) as a mediator and also exploring factors that work as moderators. Data were collected in three different studies (Study 1: survey in banking service, Study 2a: experiment in hotel service and Study 2b: experiment in banking service) and were evaluated through the regression-based analysis.

Findings show that the link between JP and PWOM is mediated by RD. Moreover, the attitude toward complaining, failure severity and cognitive reappraisal function as moderators in affecting the behavioral consequences of JP.

In contrast to existing research discussing similar topics, in this article, exclusive focus is given on the moderation and mediation impacts for hypotheses evaluation. Thus, the outcomes from our studies provide a strategic outline for managing service failures by enhancing customer interactions, creating opportunities for competitive gain.

This study aims to examine the timing of corporate disclosure in the context of Georgia, an emerging market where a recent reform of corporate financial transparency mandated about 80,000 private sector entities to publicly disclose their annual financial statements.

The main analysis covers more than 4,000 large, medium, small and micro private sector entities, for which the data is obtained from the Ministry of Finance of Georgia. This paper builds an empirical model of logit/probit regression, with industry fixed and random effects to investigate the drivers of the corporate disclosure timing.

Findings suggest that the mean reporting time lag is 279 days after the fiscal year-end, that is nine days after the statutory deadline. Almost one-third (30%) of the entities miss the nine-month statutory deadline, while the timely filers almost unexceptionally file immediately before the deadline. Multivariate tests reveal that voluntarily filing entities completed the process significantly faster than those mandated to do so; audited financial statements take more time to be filed, whereas those with unqualified audit opinion or audited by large/international audit firms are filed faster than their counterparts. The author concludes that despite the overall high filing rates, the timing of corporate disclosure is not (yet) efficiently enforced in practice (but is progressing over time), whereas regulatory incentives prevail over market incentives among the timely filers.

To the best of the author’s knowledge, this is the first study that explores corporate disclosure timing incentives in the context of Georgia. This study extends prior literature on the timing of financial information from an emerging country’s private sector perspective, with juxtaposed market and regulatory incentives.

This paper aims to investigate the factors that influence millennial purchase behaviour, brand choice and distribution channel selection in an evolving technology-driven environment.

The study was exploratory, using qualitative methods of personal interviews and some ethnographic observations to collect data from 585 millennials from ten cities in nine African countries.

Findings from the study confirm and support the critical role of e-commerce in facilitating millennials engagement with brands, highlighting how brand purchases are integral to their lifestyle choices. There is an overwhelming confirmation of the importance of influencer marketing and social media in shaping purchase decisions, with new insights into the role of local micro-influencers and social networks. The findings from the study highlight the pivotal role of a brand’s country of origin in influencing millennials’ brand preferences. The study supports and advances insights into the importance of online shopping and diverse factors influencing millennials’ selection of distribution channels.

There is an opportunity to leverage the growing mobile telephone penetration and social media usage to develop innovative integrated marketing communications strategies. There are opportunities for co-creating marketing communication campaigns with millennials in different settings. These are outlined in the practical implications section.

The paper is based on original empirical data collected from ten countries and explores the behaviour of a growing but under-researched segment of millennials in Africa.

This study investigates theoretical relationships among personality characteristics, preferences for different types of rewards and the propensity to choose a job in auditing by management-related higher education students. Specifically, the authors consider motivation, locus of control (internal and external) and self-efficacy (SE) as personality characteristics and financial, extrinsic, support and intrinsic as types of rewards.

Data were collected through a questionnaire targeted at management-related higher education students in Portugal. Partial least squares structural equation modelling was used to analyse the data.

The full sample results show that different types of motivation, locus of control and SE are related to different reward preferences. The authors also find a positive association between a preference for extrinsic rewards and the propensity to choose a job in auditing. Moreover, when the authors consider the role of working experience in the model, the authors find that the reward preferences that drive the choice of an auditing job differ according to that experience.

This study enriches the literature by assessing preferences for different types of rewards, considering multiple personality characteristics and a comprehensive set of rewards. Furthermore, the authors identify the reward preferences that drive the choice of an auditing career. This knowledge empowers auditing firms to devise recruitment strategies that resonate with candidates’ preferences, which boosts the capacity of these companies to attract new auditors.

The current education paradigm is often criticized for fostering human dependence and failing to reduce environmental impacts. This has led researchers to propose alternative approaches. One alternative approach, place-based education, integrates a specific location’s natural and social context into learning experiences. By deepening students’ connection to their surroundings, place-based environmental education aims to enhance students’ sense of interdependence with a place and their place attachment in cognitive and affective dimensions. While widely practiced, its effectiveness remains largely unevaluated, particularly in the East Asian context. The gap hinders the development of impactful pedagogical approaches for educators.

The authors examine a river environmental education program located upstream of Taiwan’s capital, offering a valuable case study within the East Asian context. The program’s design is analyzed, and its impact on enhancing students’ place attachment is assessed through a pre- and post-survey approach.

The results indicate a substantial increase in students’ place attachment following program participation, particularly pronounced among children with limited prior experience with the river. Importantly, this increase is comparable to or exceeds those observed in similar studies from other regions.

The considerable increase in place attachment observed in this program demonstrates its effectiveness in fostering environmental connections, particularly among children with limited prior experience. The magnitude of the increase might be partially attributable to the interdependent orientation of Taiwanese culture. This suggests that place-based education might yield significant positive outcomes in other non-Western countries with strong interdependent cultural orientations.

Since buying slow fashion can be both a rational choice and socially reactive behavior, this study adopts the prototype willingness model to predict Flemish young adults’ slow fashion consumption.

An online survey was administered to consumers aged 18–25 years old (N = 264). Confirmatory factor analysis and structural equation modeling were used to analyze the data.

Attitude and descriptive norm predicted intention to buy slow fashion, which in turn predicted current self-reported slow fashion consumption. Injunctive norm, prototype favorability and prototype similarity predicted socially reactive willingness to buy slow fashion.

The sample is predominantly female and higher educated. The results were partially in line with the PWM, indicating that the model is suitable for predicting young adults’ self-reported slow fashion consumption.

Slow fashion brands might benefit from increasing the visibility of slow fashion consumption and the occurrence of socially reactive shopping situations as well as improving the prototypical image of slow fashion consumers and the perception of what others approve.

Prior research generally uses rational behavioral models to predict slow fashion consumption. This study is the first to apply the PWM to slow fashion consumption, accounting for rational (i.e. reasoned) and non-rational (i.e. socially reactive) decision-making. Furthermore, this study argues the relevance of “prototypes” in sustainable decision-making.