Search results

This paper aims to present a case study on how the strong relationships with multiple stakeholder groups can benefit educational programs through the curriculum redesign process by using the experience of Marshall University and Intuit.

This paper highlights how Marshall’s faculty used Intuit’s Design Thinking process to engage with stakeholders to innovate a curriculum that is sustainable and socially responsible and transfers workforce skills and concepts. This case describes how to: involve stakeholders to discover their pain points and desired outcomes, develop prototype curriculums from stakeholders’ feedback and test and iterate prototype curriculums on stakeholders until their expectations (e.g. quality, innovation and value) of the curriculum are exceeded.

Faculty applied Design Thinking to engage with stakeholders to infuse contemporary knowledge and skills that positively impact their workforce development and societal goals into the curriculum. This process promoted critical thinking and a “stakeholder-centered” orientation with various groups including AACSB and employers. These curriculum changes ultimately provide greater experiences to students while providing relevant skills of interest to employers and society.

Stakeholders are often consulted on educational programs; however, it is unusual for an industry stakeholder to provide their best innovative practices to assist colleges with the transformation of academic curriculums. Moreover, it is unusual for higher education institutions to fully embrace these industry processes and integrate these experiences within their collective culture. Finally, the detailing of this case allows for other colleges to apply these concepts to their curriculums.

The purpose of this study is to investigate (1) how managers respond to stock price crashes, (2) why they respond and (3) how their responses affect shareholders.

This study employs a panel regression with various firm-level controls and firm- and year-fixed effects. The sample is comprised of 101,532 firm-year observations with 11,727 unique firms from 1950 to 2019. Using mutual fund flow redemption pressure as an exogenous variable to stock price crashes, the paper provides further evidence of the causality of documented findings.

Management becomes more focused on improving transparency, raising investment efficiency, reducing agency conflicts and regaining the trust of shareholders by investing in social capital and employee welfare. These actions increase firm value. This study also suggests that management undertakes these actions out of concern for their tenure of employment.

The catalysts of stock price crashes are well documented, but much less is known about what happens following stock price crashes. This study provides more insights into the understanding of corporate crisis management practices following adverse events.

This chapter examines the definitions of bullying used by students and adults in elementary schools and the effects that these definitions had within the broader school culture.

I combine interviews with 53 students and 10 adults and over 430 hours of participant observation with fifth grade students at two rural elementary schools.

Definitions of bullying held by those in these schools typically differed from those used by researchers. Even when individuals held definitions that were in line with those used by researchers, however, a focus on identifying bullies rather than on behaviors that fit definitions of bullying contributed to a school culture in which negative interactions were normalized and student reports of these behaviors were discouraged.

This study is limited to two elementary schools in the rural Midwest and cannot be seen as representative of all schools. Support for my findings from other research combined with similar definitions and school cultures in both schools, however, suggest that these definitions and practices are part of a broader cultural context of bullying in the United States.

These findings suggest that schools might be better served by focusing less on labels like “bully” and more on particular behaviors that are to be taken seriously by students, teachers, staff members, and principals.

Although other researchers have studied definitions of bullying, none have combined these definitions with observational data on the broader school contexts in which those definitions are created and used.

This paper aims to examine whether the cross-sectional return patterns in New Zealand’s main stock market (NZSX) are also present in the alternative (NZAX) and over-the-counter (Unlisted) markets.

Cross-sectional regressions of monthly stock returns on well-known pricing factors including firm size, book-to-market (B/M) ratio, liquidity and past returns were run. The NZSX sample commenced in 1988 and continued through to 2011, while data are available for the Unlisted and NZAX markets from 2004 to 2011.

The pricing factors that are important in explaining returns in major international markets also influence returns on the NZSX. However, only B/M is consistently priced across all New Zealand stock exchanges, including the alternative NZAX and Unlisted markets. There is evidence of reversal in NZAX stocks, but liquidity effects are not consistent or pervasive in either market.

With B/M being the only consistently priced variable across all markets, investors in the NZAX and in particular Unlisted may be concerned with other risk factors. For example, the risks associated with differing levels of investor protection, corporate governance and disclosure may be of more concern to investors than pricing factors such as size, liquidity and past returns in these alternative trading platforms.

The paper examines cross-sectional return patterns of the NZAX and Unlisted stocks and is the first paper to jointly test the explanatory power of size, B/M, past returns and liquidity factors for NZSX stocks.

The purpose of this paper is to review the literature on liquidity in international stock markets, highlights differences and similarities in empirical results across existing studies, and identifies areas requiring further research.

International cross-country studies on stock market liquidity are categorized and reviewed. Important relevant single-country studies are also discussed.

Market liquidity is influenced by exchange characteristics (e.g. the presence of market makers) and regulations (e.g. short-sales constraints). The literature has identified the most appropriate liquidity measures for global research, and for emerging and frontier markets, respectively. Major empirical facts are as follows. Liquidity co-varies within and across countries. Both the liquidity level and liquidity uncertainty are priced internationally. Liquidity is positively associated with firm transparency and share issuance, and negatively related to dividends paid out. The impact of internationalization on liquidity is not universal across firms and countries. Some suggested areas for future studies include: dark pools, high-frequency trading, commonality in liquidity premium, funding liquidity, liquidity and capital structure, and liquidity and transparency.

The paper focusses on international stock markets and does not consider liquidity in international bond or foreign exchange markets.

This paper provides a comprehensive survey of empirical studies on liquidity in international developed and emerging stock markets.

The purpose of this paper is to investigate how the announcement and implementation of short sales and margin trading regulation affects Chinese stock returns and trading volume. On 31 March 2010, the Chinese regulators launched a pilot programme, allowing short sales and margin trading for 50 Shanghai Stock Exchange and 40 Shenzhen Stock Exchange stocks.

This paper uses an event study approach to compare market model abnormal returns (ARs) of the pilot firms with two distinct matched firm samples. A volume event study is also conducted to examine abnormal trading activity surrounding the key events in the pilot stocks.

Negative ARs follow both the announcement and implementation of short selling and margin trading. This suggests the negative impact of short sales dominates the positive impact of margin trading on an average. Volume also declines, which is consistent with uninformed investors’ seeking to avoid trading against informed traders.

The paper appears to be the first to address the impact of both the announcement and implementation of short selling and margin trading rule changes on returns and liquidity using individual stock data.