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This paper aims to investigate whether corporate social responsibility (CSR), as evidenced in annual financial reports, is associated with a firm’s financial performance in New Zealand.

A word count approach of several key CSR indicators found in the audited financial reports of NZX50 constituent firms is used. Several variables are constructed that measure the presence of CSR within the annual report such as sustainability, responsibility, social, environment, diversity, employee and community, and eight other variables within the annual report that measure the penetration of stakeholder engagement. Control variables and alternative measures of CSR are also included. Descriptive statistics and results of both univariate and multivariate tests are provided.

The findings establish a positive connection between CSR and financial performance. It is shown that firms that are unable to focus their attention on key stakeholders, but instead waste managerial capital on vague social policies and activities, are associated with weaker performance. Firms that consider the protected indigenous peoples as key stakeholders are associated with superior performance, especially when the firm is seeking regulatory approval.

Evidence is provided that CSR and Maori stakeholder engagement is implied by financial reports that have a significant association with corporate financial performance.

The results provide one of the first analyses linking the interplay between CSR, Maori and corporate financial performance using information publicly observable in annual financial reports. Evidence of an association between firms that indicate awareness of their community and higher levels of return on assets (ROA) is provided.

This paper aims to address the following research questions: How do European banking stocks react; to the European Central Bank’s (ECB) expansionary policies? Additionally, which types of expansionary measures (conventional vs. unconventional) exert the most significant influence on bank stock performance?

Utilizing an event study approach combined with panel regression analysis, this research evaluates the impact of 77 key ECB policy interventions on the stock prices of 14 large European banks from 2007 to 2020. The event windows focus on cumulative abnormal returns (CARs) over short-term and medium-term periods to capture stock reactions to both conventional and unconventional monetary measures.

The results indicate that European banking stocks respond positively to both conventional (e.g. interest rate cuts) and unconventional (e.g. asset purchases, liquidity provisions) expansionary policies. However, asset purchase programs seem to have the most substantial and sustained impact, generating stronger positive cumulative abnormal returns over longer event windows compared to other interventions.

This article contributes to the literature by providing a detailed analysis of how different types of ECB monetary interventions influence bank stock performance. It is the first study to analyze and compare the persistence and strength of these measures across various event windows, offering valuable insights for investors and policymakers in assessing the effectiveness of monetary policy on capital markets.

• (1)

  This paper explores how European banking stocks react to ECB’s expansionary policies.

• (2)

  It uses an event study and panel regression to assess 77 policy interventions from 2007 to 2020.

• (3)

  Asset purchases are found to have the strongest and most persistent positive effects on bank stock prices.

• (4)

  The analysis highlights the differential impact of conventional versus unconventional monetary policies on European banks.

This paper explores how European banking stocks react to ECB’s expansionary policies.

It uses an event study and panel regression to assess 77 policy interventions from 2007 to 2020.

Asset purchases are found to have the strongest and most persistent positive effects on bank stock prices.

The analysis highlights the differential impact of conventional versus unconventional monetary policies on European banks.

This paper aims to investigate the impact of corporate governance practices on cost efficiency and financial stability for a sample of Islamic and conventional banks. In the analysis, the author uses a set of corporate governance variables that include, the board size, board independence, director gender, board meetings, board attendance, board committees, chair independence and CEO characteristics.

The author uses corporate governance data of Islamic banks that is unique in this field. In the analysis, the author also uses stochastic frontier analysis and panel vector autoregression models to quantify long-run and short-run statistical relationships between the operational efficiency of Islamic Banks and corporate governance practices.

According to the results, Islamic and conventional banks exhibit important differences in the effects of corporate governance practices on cost efficiency and financial stability. Results show that with a blind general adoption of corporate governance practices, Islamic banks may suffer a loss in their value since the adoption of the third layer of binding practices, over and above the already existing ones, imposed by the Sharia Board and the Board of Directors, may lead to cumbersome business operations. This conclusion is of importance to Islamic Banks since they struggle to survive in a very competitive international environment.

The author believes that the results may be of a certain value to regulators, policymakers and managers of Islamic banks. Based on the results, the author postulate that Islamic banks should select carefully international corporate governance practices.

Islamic banks should not adopt additional third layer of binding practices as that would result lower performance and instability that would be damaging for the economy

This study employs a unique sample of Islamic banks that includes corporate governance data hand collected. Our findings of the corporate governance impact on Islamic banks performance and stability are therefore unique in the literature.

This paper examines the dividend smoothing (DS) behaviour in the Gulf Cooperation Council (GCC) countries in emerging markets where the response to news and the economic environment are different from those of developed countries.

The authors examine the effect of share price informativeness on DS in the GCC markets using unbalanced panel data for a sample of 628 GCC-listed firms during 1994–2016. For the regression analysis, the hypotheses are tested using panel regressions and generalised method of moments (GMM) estimation.

First, the Lintner model shows that the DS degree in GCC firms is comparable to that of a developed market. Second, and importantly, the results reveal that the DS in GCC firms is sensitive to private information of share prices. Finally, the findings indicate that information asymmetry (IA) and agency-based models affect the tendency to smooth dividends in the GCC markets.

This study is the first study to measure the degree of DS using data for all GCC countries. The authors also identify other determinants of DS behaviour and test the agency and IA explanations for DS in GCC-listed firms. The findings are highly recommended to financial managers and analysts dealing with the GCC markets. This study helps financial analysts to use the share price informativeness as an indicator for the presence of the IA. The study results are beneficial to researchers in understanding the relationship between DS and share price informativeness.

Professional learning networks (PLNs) involve teachers’ collaboration with others outside of their school to improve teaching and learning. PLNs can facilitate teachers’ professional growth and school improvement. This study aims to explore the drivers for participation within PLNs, the enactment process and the impact of PLN participation on teachers, students and schools in Greece.

A descriptive phenomenological study was conducted to explore the lived experience of primary school teachers participating in PLNs.

The findings showed that individuals who were open to change were driving innovation to address a need or a lack in their daily practice that was not satisfied within their usual community of practice. The key element of the participation was peer collaboration with openness of communication without attendant accountability pressures. The change was mainly identified in teacher skills and the school climate. An individual could bring change only if the school is already open to change. In some cases, resistance to change in schools was identified before enactment or during enactment. The transformation of teachers’ and leaders’ stances is discussed, enabling the opportunity to maximise school improvement.

The study examines PLNs as European Union-funded initiatives that are developed by teachers in centralised education systems under the phenomenological research paradigm. It explores the PLNs in a different setting compared to the existing conceptual theory of change for PLNs.

Institutional repositories (IR) are usually used to archive and manage digital collections including research results, educational material, etc. Learning management systems (LMS) form a popular basis for e-learning and blended learning. This paper aims to study how to integrate IR and LMS to support accessibility of disabled students and students with learning difficulties (dyslexic students) in higher education. Customised ontologies focusing on disabled students can be used to facilitate indexing, and access of items in the repository.

The authors propose a simple methodological approach to establish an integrating system for supporting accessibility. First, the authors review research works related to adaptive learning environments (ALEs) and blended learning, and discuss issues of the interoperability of IR and LMS. Then, based on the review, the authors discuss the use of an integrated ALE for supporting disabled students in the domain of higher technological education. The integrated system is based on IR, LMS and assistive and adaptive technology. The open source software platform DSpace is used to build up the repository applications Use of the web ontology language (OWL) ontologies is also proposed for indexing and accessing the various, heterogeneous items stored in the repository. Various open source LMS (e.g. openeclass) could be used to build up the integrated system. Finally, the authors describe experimentation with a prototype implemented to provide the mentioned capabilities.

The technology is mature enough for building up integrated systems, combining capabilities of IR and LMS, for supporting disabled students. The use of ontologies focused on disabled students could facilitate the use of such integrated systems. Customisation and operation of a platform, for the selection and use of portions of OWL ontologies, could be based on the open source software Protégé. Such a platform forms a basis to create an appropriate ontology suitable for specific domains, e.g. the domain of technological education. Finally, the authors argue that the combined use of the OWL platform and the DSpace repository with open source LMS platforms could support domain experts for creating customised ontologies and facilitating searching.

A new perception of the term integrated system for supporting disabled students in the higher education context is presented. This perception tries to combine the IR technology that supports the self-archiving approach of information, open LMS technology and the user-centred approach to support students and manage the “life of information”.

The aim of this paper is to examine the dynamic relationships between Middle East stock markets.

Daily data from the Egyptian (CMA) and Israeli Tel Aviv Stock Exchange (TASE‐100) stock indices are considered. The paper employs a Bivariate cointegration GARCH(1,1) model to explain price discovery and lead‐lag relationships for the period July 1997 – August 2007.

Empirical results confirm that the Egyptian market plays a price discovery role, implying that CMA prices contain useful information about TASE‐100 prices. CMA market is more informationally efficient than TASE‐100 market. Further, CMA index reflects new information faster than TASE‐100 index.

Future research should examine the dynamic relationships between Middle East stock markets using intraday (high frequency) data and recent dynamic (long memory) methods.

The findings are helpful to financial managers and traders dealing with Middle East stock markets.

The contribution of this paper is to provide evidence on the stock market dynamics and financial linkages between two Middle East emerging markets using recent daily data and a modern econometric model. To the best of the author's knowledge, no previous study has tested the dynamic relationships between daily prices of CMA and TASE‐100.

The aim of this research is twofold: (1) to investigate when the effect of R&D investment on New Product Development (NPD) performance peaks – the sweet spot and (2) to analyze the influence of firms’ export activities on where that spot is. Drawing on the knowledge-based view (KBV), we argue that export intensity and export experience lead to differential effects on how R&D investments are converted into new products.

We test our conceptual framework using time lagged data and optimal-level analysis. The dataset consists of an unbalanced panel of 608,891 observations and 333,516 firms.

The results support the expected inverted U-shaped relationship between R&D investment and NPD performance. They also show moderating effects of export intensity and experience. Export intensity enhances innovation processes by enabling firms to stretch the points at which R&D investments eventually taper off. In contrast, export experience improves firms’ ability to convert R&D investments into NPD performance. Our results demonstrate that, all else equal, firms with relatively higher export experience can spend less on R&D and still achieve higher levels of NPD performance.

We contribute to the literature by investigating how export activities provide a valuable context for understanding the theoretical mechanisms that help explain the inverted U-shaped relationship between R&D investment and innovation. We show the effects of exporting activities on the precise points where the R&D investment–NPD performance relationship peaks, thereby identifying the optimal point within this nonlinear relationship.

In a dynamic, continuously evolving sports landscape, social media have become an indispensable tool for sports organizations to cultivate meaningful connections with fans. The rapid pace of technological advancements has elevated these digital platforms from a supplementary role to a pivotal position within strategic management frameworks. The existing literature explores how football clubs can utilize social media, but analyzing social media strategies within the context of football leagues is lacking. The absence of comparative studies benchmarking clubs across different geographical regions while simultaneously analyzing multiple social media platforms is especially noteworthy. In this study, a comprehensive analysis of social media engagement is undertaken within esteemed football leagues spanning Europe, South America and North America.

Drawing on relationship marketing and employing content analysis as a methodological tool, the study examined 10,772 posts from the official accounts of eight football leagues on Facebook, Twitter and Instagram.

Across the leagues, the findings reveal that content quality drives engagement more than frequency. In addition, several format combinations were identified that facilitate engagement and Instagram emerged as the top social media platform for generating fan engagement.

This is one of the first empirical studies focusing on optimizing the use of social media to amplify fan engagement across various geographies and social media accounts and formats simultaneously.