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The purpose of this paper is to investigate the impact of a consumer confidence shock on GDP and different types of consumer spending during a slack state as well as a non-slack state of an economy.

The authors use the US quarterly data from 1960Q1 to 2014Q4 and apply Jorda’s (2005) local projection method to compute the impulse responses of macroeconomic variables to a consumer confidence shock. The local projection method allows us to include non-linearities in the response function.

In general, the response of output, following a consumer confidence shock, is similar in slack and non-slack states and indicate that an unfavorable confidence shock is contractionary. However, the intensity and duration of impact of a confidence shock on different components of spending are state dependent. Overall, a negative confidence shock appears to have a stronger impact on non-slack time than on a slack time.

Policy makers should be careful about undertaking a policy action that may affect consumer confidence adversely, particularly during an economic good time. An adverse confidence shock can trigger a downfall in a well-functioning economy and the dampening effect may last for several quarters before the economy rebounds.

US economy is subject to fluctuations; however, the literature on the impact of confidence shock in different economic states is limited. The incremental contribution of this paper is that it investigates how the consumers respond to the confidence shock in a state-dependent model. Furthermore, the authors use a more robust and alternative estimation method that tackles any non-linear problems.

This paper investigates the impact of a monetary policy shock on the production of a sample of 312 industries in manufacturing, mining and utilities in the United States using a factor-augmented vector autoregression (FAVAR) model.

The authors use a FAVAR model that builds on Bernanke et al. (2005) and Boivin et al. (2009). The main assumption in this model is that the dynamics of a large set of macro variables are captured by some observed and unobserved common factors. The unobserved factors are extracted from a large set of macroeconomic data. The key advantage of using this model is that it allows extracting the impulse responses of a wide range of macroeconomic variables to structural shocks in the federal funds rate.

The results indicate that industries exhibit differential responses to an unanticipated monetary policy tightening. In general, manufacturing industries appear to be more sensitive compared to mining, and utility industries and durable manufacturing industries are found to be more sensitive than those within nondurable and other manufacturing industries to a monetary policy shock. While all industries respond to the policy shock, most of the responses are reversed between 12 and 22 months.

The implication of our results is that monetary policy can be used to impact most US industries for four years and beyond. The existence of disparate responses across industries underscores the difficulty of implementing a monetary policy that will generate the same impact across industries. As the effects of the policy are distinct, policymakers may want to attend to the unique impacts and implement industry-specific policy.

The study is important in the context of the current challenges in the US economy caused by the spread of coronavirus. For example, to tackle the current pandemic, the researchers are trying to come up with cures for COVID-19. A considerable response of the chemical industry that provides materials to pharmaceutical and medicine manufacturing to the monetary policy shock implies that an expansionary monetary policy may facilitate an invention and adequate supply of the cure later on. The same policy may not effectively stimulate production in apparel or leather product industries that are being hard hit by the pandemic.

The study contributes to the literature in broadly two aspects. First, to the best of our knowledge, this is the first paper that investigates the impact of a monetary policy shock on a sample of 312 industries in manufacturing, mining and utilities in the US. Second, to identify structural shocks and investigate the effects of monetary policy shocks on economic activity, the authors diverge from the literature's traditional approach, i.e. the vector autoregression (VAR) method and use a FAVAR method. The FAVAR provides a comprehensive description of the impact of a monetary policy innovation on different industries.

The purpose of this paper is twofold; first, to understand the long‐run dynamics between returns, valuation measures and foreign investment in the USA; second, to determine if these dynamics change following financial market upheaval.

To address long‐run dynamic nature of the variables, multivariate autoregressive models are fitted for the period of January 1977 to November 2008. To gain additional insight about the nature of equity flows its dynamics are analyzed over the periods containing the 1987 stock market crash and the two major asset bubbles, e.g. internet bubble and the housing bubble.

The authors find that foreign institutional equity flows are more sensitive to innovations in valuation measures than innovations to excess US market returns; and that foreign investors increase their purchases of US market capitalization following a positive innovation to measures of valuation. The results imply that the behavior of foreign institutional investors are not described by “return chasing” alone. The authors further find that in times of increased uncertainty the joint dynamics between foreign equity flows and valuation measures decouples. Finally consistent with existing literature it was found that equity flows to the USA are autocorrelated.

There is a broad literature on the dynamics of US investment in emerging and developed markets, but very little (if any) research that analyzes the dynamics of equity flows to the US, returns, and measures of valuation. Furthermore, the literature on the behavior of equity flows surrounding financial crises is scant, particularly for developed markets.

The purpose of this paper is to shed light on the causes of the 2007‐2009 mortgage crisis, liquidity crisis, stock market volatility in the USA and their spillover effects on the global economy.

The paper critically reviews the 2007‐2009 financial crisis from both academic and practitioners' viewpoints.

The paper explores how the liquidity crisis has evolved with the advent of poorly supervised financial products, especially the credit default swaps and subprime mortgage loans. Further, it analyzes the laxity in regulations that encouraged high financial leverages, shadow banking system and excessive stock market volatility and worsened the recent financial crisis.

The implication of this paper is to understand numerous policy reforms that will help the global capital markets to be more transparent and less vulnerable to systematic risks; the suggested policy reforms may also help to prevent such financial calamities in the future.

This study aims to explore the determinants of environmental knowledge sharing behaviour among accounting educators through the lens of an extended theory of planned behaviour (TPB).

A total of 95 accounting educators responded to a questionnaire survey. The data comprising information on attitude, subjective norm, perceived behavioural control, possession of environmental knowledge and locus of control, as exogenous latent variables and intention to share and environmental knowledge sharing behaviour as endogenous latent variables, were analysed using the SmartPLS modelling technique. Besides the survey, interviews were conducted for triangulation purpose.

Except for subjective norm, all hypotheses are supported. The findings from the interviews reveal that environmental knowledge sharing activities have put educators in a peculiar position in terms of sharing environmental knowledge, as carrying out environmental activities has not been taken seriously and also seen as not the norm among the faculty members.

This study focuses on accounting educators from five Malaysian public universities and deepens the understanding of their behaviour in sharing their environmental knowledge.

This study provides findings that can be useful for higher education institutions to strategize themselves in delivering environmental sustainability awareness in campus, which may enhance their efforts towards achieving sustainable development.

This study provides findings that there is a need to inculcate environmental knowledge sharing among educators. Such knowledge sharing may generate good environmental norms, which may result in better environmental awareness.

This paper contributes to the literature by exploring the main determinants of accounting educators’ environmental knowledge sharing behaviour and extending the TPB by considering two additional variables.

Tourism, as a system, develops strategies for risk prevention and mitigation. The shock generated by the COVID-19 pandemic is different when compared with previous events because it is more intense and prone to structural changes. Tourists' perceptions condition their behaviour and decisions, with adverse results on travel and tourism consumption; and hygiene and health risks generate a cause-effect relationship on destination specificities.

From globalisation to risk perception and crisis management, in a framework where technology, communication and digital content represent undeniable importance, we are facing circumstances especially conducive to the redesign of the collective future, where the sustainability of tourism is a collective goal, arising from the right balance between the competitiveness of destinations and climate action.

Given the prospects for the next decade, health and hygiene are structural factors to be considered in decision-making processes. Thus, so the proposed approach contributes to the awareness, by the various stakeholders, of its importance and the need to implement methods and processes compatible with more inclusive and responsible tourism.

The purpose of this paper is to develop an instrument to measure the influence of coronavirus (COVID-19) on international travellers’ behaviour.

Data were collected from 500 respondents in the Kingdom of Saudi Arabia to develop and validate a multi-item scale to measure international travel behaviour post-COVID-19. The initial pool of items was validated by using exploratory factor analysis. The first-order reflective and the assessment of hierarchical factor structure were done through structural equation modelling by using SmartPLS 3.

Findings revealed a hierarchical three-level scale for measuring international traveller’s behaviour. The first level consists of six sub-dimensions of 19 items. These six sub-dimensions can be used as a formative measure of three dimensions of general impact, attitude and preference and cleanliness and safety. These three dimensions form the third level for the meta construct of traveller’s behaviour.

The proposed scale will provide policymakers and managers with an improved understanding of the change in travellers’ behaviour due to the COVID-19 crisis or any future pandemic.

The scale can be used by the tourism and hospitality industry to access the impact of COVID-19 or any other future pandemic on traveller’s behaviour.

Since the outbreak of the novel COVID-19, almost all international travel has come to halt. A diverse measuring instrument to measure traveller’s behaviour is not available in extant literature. To the best of the authors’ knowledge, this study is the first of its kind which has developed and validated a scale for measuring traveller’s behaviour during and post COVID-19.

The global spread of the COVID-19 pandemic has affected businesses worldwide. Arguably, one of the most affected industries is the hospitality sector, where the world has seen a substantial drop in personal and professional travel owing to severe lockdowns, which has particularly harmed the hotel and tourism industries by lowering occupancy and profits. The purpose of this research is to investigate the impact of the COVID-19 epidemic on the emotional and mental well-being of hospitality workers in Dubai, United Arab Emirates.

A quantitative cross-sectional technique was used, with 517 respondents drawn from Dubai's major hotels.

Fear of the COVID-19 pandemic was found to be positively connected to employees' emotional weariness, which is then positively related to their intention to leave their organizations.

The paper gives suggestions to managers on how to best deal with their employees, especially the more competent ones, as they are more likely to leave during a pandemic.

Contrary to suggestions in the literature and our predictions, this paper found that self-efficacy positively moderated the relationship between fear of COVID and emotional exhaustion such that workers with high self-efficacy were more prone to emotional exhaustion as a result of their fear of COVID. Furthermore, the results of the research suggest that it is the more competent workers who are more likely to be affected, during a pandemic, and thus their loss is expected to cause greater loss to their organizations.