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Article
Publication date: 4 February 2025

Pieter de Jong, Rachel Frieder, Oliver Schnusenberg and Inga Timmerman

We aim to explore and analyze job stress, satisfaction and career mobility among finance professors in the US. Additionally, we seek to provide insights that could guide new…

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Abstract

Purpose

We aim to explore and analyze job stress, satisfaction and career mobility among finance professors in the US. Additionally, we seek to provide insights that could guide new finance PhDs and current academics in understanding how various job aspects impact their professional experiences.

Design/methodology/approach

Using manual data identification and applying univariate and multivariate analyses, we survey finance professors in the US to assess their overall job satisfaction, the reasons that drive their choice of first academic positions and the factors influencing their desire to remain in or leave their current roles.

Findings

Our findings indicate that pay, location and alignment between research expectations set during the interview process and the actual job conditions are the strongest predictors of professors’ job satisfaction. Family and personal considerations play a more significant role in job search behavior for subsequent employment opportunities. Additionally, we provide evidence that perceived gender-based differential treatment within departments is associated with lower job satisfaction. Furthermore, the academic landscape has shifted following the COVID-19 pandemic, affecting faculty and students.

Originality/value

We identify the key factors influencing job satisfaction, the motivations behind career decisions and the changing job demands faced by finance academics in the US.

Details

Review of Behavioral Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1940-5979

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Article
Publication date: 31 January 2025

Brandon Doey and Pieter de Jong

This study investigates the relationship between earnings call sentiment and subsequent media coverage sentiment. Examining these synergistic effects between executive…

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Abstract

Purpose

This study investigates the relationship between earnings call sentiment and subsequent media coverage sentiment. Examining these synergistic effects between executive communication style and resulting news narratives provides novel insights. The unscripted qualitative discussions in earnings calls establish perceptions and outlooks that the media echoes in later coverage. Understanding these intricate connections between information channels aids communication experts and market analysts in shaping strategic messaging and predicting market impacts. In addition, the link with the stock return reaction is revisited, and this study shows that the effects on stock returns driven by news information are moderated by earnings call sentiments.

Design/methodology/approach

This study analyzes the interplay between earnings call sentiments and subsequent news sentiments for 30 S&P 500 companies from 2012 to 2022. Utilizing the FinBERT Natural Language Processing (NLP) model, we extract sentiment scores from earnings call transcripts and corresponding news articles. We apply OLS regression models to examine the relationship between negative earnings call sentiments and subsequent negative news sentiments, as well as their combined impact on stock returns. Control variables include financial metrics such as ROA, ROE, firm size, Market-to-Book ratio and liquidity. The methodology allows for a nuanced exploration of sentiment transfer mechanisms in financial communication and their market implications.

Findings

Our study reveals a significant positive correlation between negative sentiment in earnings calls and subsequent negative news sentiment. A 1% increase in negative call sentiment associates with a 0.54% increase in negative news sentiment the following day, supporting Agenda Building and Impression Management hypotheses. We observe a multiplicative effect on stock returns when negative call sentiment coincides with negative news sentiment, supporting signaling theory. Financial metrics like ROE show marginal influence on news sentiment, while others demonstrate insignificant impact. These findings underscore the importance of holistic corporate communication management in mitigating potential negative market reactions.

Research limitations/implications

This study’s primary limitation is its sample size of 30 S&P 500 companies, potentially limiting generalizability. The use of a single sentiment analysis model (FinBERT) could impact results, warranting comparison with alternative methods. The study’s timeframe (2012–2022) may not capture the most recent market dynamics. Future research could expand the sample size, incorporate additional sentiment analysis techniques and explore longer-term effects. Investigating industry-specific variations and the impact of macroeconomic factors could provide further insights. Additionally, qualitative analysis of earnings call content could complement these quantitative findings, offering a more comprehensive understanding of sentiment transfer mechanisms.

Practical implications

This study offers insights for corporate communicators, investor relations professionals and financial analysts. The strong correlation between earnings call sentiment and subsequent news sentiment emphasizes the need for management of corporate messaging during these calls. Companies should be aware that negative sentiments expressed in earnings calls may amplify through news coverage, potentially impacting stock performance. Investors and analysts should consider both earnings call and news sentiments when evaluating market reactions. For regulators, these findings highlight the importance of monitoring information dissemination practices to ensure market fairness. Overall, the study underscores the significance of a holistic approach to financial communication strategy.

Social implications

This research highlights the interconnected nature of corporate communication and media narratives, emphasizing social responsibility of both corporations and news outlets. The findings suggest that negative corporate messaging can perpetuate and amplify through news coverage, potentially affecting public perception and investor sentiment. This underscores the need for transparent and ethical communication practices in the business world. The study also raises awareness about the potential manipulation of public opinion through carefully crafted corporate narratives. It encourages stakeholders to critically evaluate both corporate communications and subsequent media coverage, promoting a more informed and discerning society in the context of financial information dissemination.

Originality/value

This study uniquely explores the interplay between earnings call sentiments and subsequent news sentiments, addressing a significant gap in financial communication research. By examining the sentiment transfer mechanism from corporate messaging to media narratives, it provides novel insights into information dissemination in financial markets. The research demonstrates how negative sentiments in earnings calls can amplify through news coverage, offering valuable implications for corporate communication strategies. This multifaceted analysis contributes to a deeper understanding of the complex relationships between corporate communication, media coverage and market behavior.

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Book part
Publication date: 7 June 2016

Henri Kuokkanen and William Sun

Many consumer-focused corporate social responsibility (CSR) studies suggest a positive link between the responsibility demonstrated by a company and consumers’ intention to favor…

Abstract

Purpose

Many consumer-focused corporate social responsibility (CSR) studies suggest a positive link between the responsibility demonstrated by a company and consumers’ intention to favor the company in their purchases. Yet an analogous causal effect between corporate social and financial performances is not evident. This chapter conceptualizes how social desirability and cynicism contribute to the discrepancy between consumers’ attitudes and their actual purchase behavior, and analyzes why consumer choices indicated in surveys do not consistently convert into actions.

Methodology/approach

We develop a conceptual framework based on hybrid choice modeling to estimate the impact of two new variables, Corporate Social Desirability and Corporate Social Cynicism, on CSR research. The model presented synthesizes research findings from the fields of CSR and psychology with a discrete choice methodology that allows inclusion of psychological aspects as latent variables.

Findings

The goal of the framework is to bridge the gap between choices stated by consumers in CSR surveys and their actual choices by quantifying and extracting the effects of biases that otherwise threaten the validity of such survey results. As the next step, the practical value of the model must be evaluated through empirical research combining a CSR choice study with social desirability and cynicism measurement.

Originality

The framework proposes a novel way of controlling CSR surveys for potential biases created by social desirability and cynicism and enables quantification of this impact, with potential application to other fields where psychological aspects may distort research results. Future empirical evidence based on the framework may also offer new insights into the mechanisms by which the two biases distort findings.

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Book part
Publication date: 14 September 2007

Chandra R. Bhat, Naveen Eluru and Rachel B. Copperman

Abstract

Details

Handbook of Transport Modelling
Type: Book
ISBN: 978-0-08-045376-7

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Book part
Publication date: 15 January 2010

James Laird

This paper presents new evidence that the error in estimating the economic welfare of a transport scheme can be very large. This is for two reasons. Firstly when cost changes are…

Abstract

This paper presents new evidence that the error in estimating the economic welfare of a transport scheme can be very large. This is for two reasons. Firstly when cost changes are large the income effect can be significant. This means the change in consumer surplus is no longer a good estimate of the compensating variation — the true measure of welfare benefit. Secondly, in the presence of large cost changes estimating the change in consumer surplus using the Rule of Half can lead to large errors. The paper uses a novel approach based on stated choice and contingent valuation data to estimate the size of this error for the situation of the provision of fixed links to islands in the Outer Hebrides of Scotland.

Details

Choice Modelling: The State-of-the-art and The State-of-practice
Type: Book
ISBN: 978-1-84950-773-8

Abstract

Details

Freight Transport Modelling
Type: Book
ISBN: 978-1-78190-286-8

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Article
Publication date: 10 December 2010

Pieter de Jong, Oliver Schnusenberg and Lakshmi Goel

The focus of this paper is to identify factors determining willingness to pay, preferences for geographic areas, and preferred times for study abroad and semester abroad programs.

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Abstract

Purpose

The focus of this paper is to identify factors determining willingness to pay, preferences for geographic areas, and preferred times for study abroad and semester abroad programs.

Design/methodology/approach

A unique survey instrument is utilized, which was administered to a section in the college of business of a regional university in Florida. The survey itself contains a variety of demographic questions. The survey also includes questions to assess students' financial conditions, interest in study abroad, parents' influence on study abroad, international experience, international program awareness, and willingness to pay for study abroad.

Findings

Results reported here reveal that students consider various factors in their decision to participate in such a program, including not only the cost of the program, but also the academic and cultural components and the popularity of the professor. Factors determining the willingness to pay, preferences for geographic areas, and preferred times for study abroad and semester abroad programs also play a role.

Research limitations/implications

There are biases in the sample limiting the generalizability of the results. Also, extra credit was offered as a reward for completing the survey, which may result in some students providing unreliable answers.

Practical implications

The results of the study should be useful for any university that is currently developing a study abroad plan from both a marketing perspective and an attendance‐maximization viewpoint.

Originality/value

This study is intended to be a first step in synthesizing and summarizing factors important to students as they make decisions regarding study abroad programs.

Details

Journal of International Education in Business, vol. 3 no. 1/2
Type: Research Article
ISSN: 2046-469X

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Article
Publication date: 21 June 2011

Antony Paulraj and Pieter de Jong

This study aspires to explore how the US stock market reacts to ISO 14001 certification announcements.

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Abstract

Purpose

This study aspires to explore how the US stock market reacts to ISO 14001 certification announcements.

Design/methodology/approach

The paper employs an event‐study methodology on a sample of 140 announcements and matching control firms to study the impact of ISO 14001 certification announcements.

Findings

The results suggest that ISO 14001 certification announcements have a negative impact on stock performance. More importantly, they show that the shareholder wealth reduced due to these certifications announcements.

Research limitations/implications

This study focuses on short‐term stock market reaction. Future studies should consider the entire sample of ISO 14001‐certified firms within the USA and use certification date to evaluate short‐ as well as long‐term improvements in shareholder wealth.

Practical implications

The results suggest that firms will need to educate shareholders about their actions towards the betterment of the environment. Such coordinated communication will ensure that the ISO 14001 standard is highly regarded, widely adopted, and even requested by shareholders.

Originality/value

Past empirical studies indicate that certified environmental management systems help organizations to reduce waste and pollution, thereby ultimately resulting in superior environmental and economic performance. At the same time, given its focus on the process rather than performance outcomes, opponents criticize ISO 14001 suggesting that it is just a label for image building. Owing to this dilemma, it is pertinent to evaluate how shareholders perceive a firm's attainment of ISO 14001 certification announcements.

Details

International Journal of Operations & Production Management, vol. 31 no. 7
Type: Research Article
ISSN: 0144-3577

Keywords

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Book part
Publication date: 1 December 2014

Steven Z. Athanases

Learning to teach subject matter topics that emerge as challenging for culturally and linguistically diverse students remains a key goal for prospective teachers. Teacher…

Abstract

Learning to teach subject matter topics that emerge as challenging for culturally and linguistically diverse students remains a key goal for prospective teachers. Teacher education needs multiple ways to guide preservice teachers (PSTs) for this work. One context for such teacher development is classroom-based teacher inquiry. I describe an innovation in teacher inquiry pedagogy that mentors PSTs in (a) mining multiple sources of knowledge for teaching challenging areas of content learning, (b) systematically analyzing knowledge gleaned from these sources, and (c) mediating through visual representations the overlapping, reinforcing, and sometimes conflicting ideas gleaned from sources, in order to advance conceptions and practice in content-based learning for diverse youth. I describe the pedagogy in practice, then use a case of one PST to illustrate how her knowledge evolved in learning to teach persuasive writing to early adolescent English language learners. It was in the knowledge sources interface, mediated by visual representations and written reflections, that this PST’s developing knowledge gained texture and depth.

Details

International Teacher Education: Promising Pedagogies (Part A)
Type: Book
ISBN: 978-1-78441-136-7

Keywords

Available. Content available
Article
Publication date: 10 December 2010

Sarbari Bordia and Joanna Crossman

462

Abstract

Details

Journal of International Education in Business, vol. 3 no. 1/2
Type: Research Article
ISSN: 2046-469X

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