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COVID-19 and its accompanying lockdowns were arguably the most traumatic events of our times. This paper investigates the impact of COVID-19 on market efficiency.

I analyze all publicly traded U.S. equities for 2014–September 2021, using intraday data from TAQ, TRACE, I/B/E/S and Capital IQ and daily data from CRSP, Thomson Reuters, Compustat, CRSP-Compustat Merged Database and FRED, using a controlled contrast between absolute abnormal returns for relevant halfhours versus absolute abnormal returns in control halfhours, measured by the negative of the coefficient of the fixed effect of the interaction between the indicator variable, and as the case may be, ticker and/or time period of interest, in the regression of halfhour-level absolute abnormal returns on tickers, months and interactions.

Using two separate objective, systematic, independent and ordinal per se measures of market efficiency based upon market reactions separately to key developments and earnings announcements, I find that U.S. equities markets were statistically and economically significantly less efficient during the first two-three months of the COVID-19 lockdowns.

Efficient capital markets provide substantial social benefits and are a sine qua non for the democratization of markets and the protection of investors, and constitute a critical mission of regulatory bodies such as the U.S. Securities and Exchange Commission (SEC) and the U.S. Financial Industry Regulatory Authority (FINRA).

The impact on market efficiency provides one critical input into the social cost-benefit analysis of public health policy and that of government interventions in general.

There has been no previous work done on the systematic and objective characterization of the impact of COVID-19 and associated lockdowns on market efficiency.

The authors provide a general framework of behavior under asymmetric information and develop indices of diligence, objectivity and quality by an analyst and analyst firm about a studied firm, and relate them to the accuracy of its forecasts. The authors test the associations of these indices with time.

The test of Public Information versus Non-Public Information Models provides the index of diligence, which equals one minus the p-value of the Hausman Specification Test of Ordinary Least Squares (OLS) versus Two Stage Least Squares (2SLS). The test of Objectivity versus Non-Objectivity Models provides the index of objectivity, which equals the p-value of the Wald Test of zero coefficients versus non-zero coefficients in 2SLS regression of the earnings forecast residual. The exponent of the negative of the standard deviation of the residuals of the analyst forecast regression equation provides the index of analytical quality. Each index asymptotically equals the Bayesian ex post probability, by the analyst and analyst firm about the studied firm, of the relevant behavior.

The authors find that ex post accuracy is a statistically and economically significant increasing function of the product of the indices of diligence, objectivity and quality by the analyst and analyst firm about the studied firm, which asymptotically equals the Bayesian ex post joint probability of diligence, objectivity and quality. The authors find that diligence, objectivity, quality and accuracy did not improve with time.

There has been no previous work done on the systematic and objective characterization and joint analysis of diligence, objectivity and quality of analyst forecasts by an analyst and analyst firm for a studied firm, and their relation with accuracy. This paper puts together the frontiers of various disciplines.

This paper aims to investigate the current state of research on sustainability-related manufacturing trade-offs (i.e. giving preference and priority to one dimension over others) that affect suppliers in developed and less developed countries (LDCs). There is growing pressure on suppliers to adopt sustainable practices into their global supply chains. Successfully implementing all three dimensions of the triple bottom line (TBL) imperative can provide organizations with an added capability and potentially result in competitive advantage and a focus on sustainable development goals (SDGs) in the long run. However, designing supply chains for achieving the TBL requires suppliers to recognize and overcome numerous trade-offs.

A systematic literature review comprising 71 papers published between 2004 and 2020 was undertaken using a content analysis approach to identify trade-offs affecting suppliers.

This study firstly identified eight sustainability-related trade-offs affecting suppliers from a TBL perspective in both developed and LDCs, consequently, allowing for a detailed discussion on trade-off factors and conditions unique to both developed and LDCs. Together, these findings enable this study to present initiatives and investment-related decisions for supply chains from a TBL perspective.

In spite of the plethora of studies on sustainable supply chains, there is little research on trade-offs, specifically those affecting sustainability of suppliers operating in LDCs. This paper addresses this critical gap and advances the literature on sustainability-related supply chain trade-offs.

The current research prioritizes the dimensions of a higher-order customer engagement construct in the tourism destination context in order of their relative importance as perceived by tourists to provide meaningful insights to the tourism industry player.

Data was collected from 429 tourists' from selected tourist destinations. Exploratory factor analysis (EFA) was used for data analysis using SPSS. The scale items were prioritized through hybrid evidence-based modeling using the RIDIT-GRA (Relative to an Identified Distribution and Grey Relational Analysis, respectively) approach.

The prioritization of customer engagement scale items is done through RIDIT analysis and is verified through GRA. The rankings of two independent methodologies show a 93% correlation, thereby ensuring the ranking's robustness.

Prioritizing customer engagement scale items may assist destination managers in strategy formulation to ensure tourists' high-level loyalty transcending purchase. The findings help develop key response areas (KRA's) for effective destination brand management.

Such precedence analysis of customer engagement scale items has not been done in the tourism studies yet. Also, the present study verified the results by incorporating two independent methodologies, thus providing more valid results.

The study aims to develop a hierarchical model for innovative work behaviour (IWB) that can capture the complex associations among the factors contributing to IWB within the information technology (IT) sector. To accomplish this, the authors rely on an abductive approach using a graph theoretic model, often called interpretive structural modelling (ISM).

After conducting an in-depth literature review and using the Delphi method, the authors identified 12 factors (11 enablers and IWB as an outcome). The authors collected data through the Delphi approach by sending the questionnaire to 11 experts from academia and the IT sector who have extensive experience and knowledge relevant to the study. The authors then used the ISM method to analyse the relationships among these factors and understand their driving forces.

Based on the ISM model and the Matrice d'Impacts Croisés Multiplication Appliquée à un Classement analysis, the authors have identified that inclusive leadership, proactive personality and knowledge creation ability are the variables with strong driving power but weak dependence. Conversely, IWB has strong dependence but weak driving power. These findings suggest that to foster IWB, the organisation should prioritise inclusive leadership, proactive personality and knowledge-creation ability to succeed in challenging times. The study’s findings contribute to the social exchange theory, which explains IWB in a dynamic setting. Additionally, the study helps address the significant concerns that most IT companies face during times of crisis.

The study provides valuable guidance for managers and policymakers who are grappling with the challenges of improving IWB in the IT sector. This study is particularly relevant as the industry is currently navigating an economic recession and facing intense competition from other tech companies launching new products and services.

This research holds great significance for top executives, line managers and policymakers in the IT industry. It sheds light on the relevance and importance of various factors facilitating millennials' IWB.

Crafts embody the history and heritage of their country of origin and can play an essential role in the country's socioeconomic development by providing significant job opportunities for the rural population. This article investigates the significant challenges that artisan entrepreneurs face when creating, communicating and selling handcrafted goods to potential customers in emerging economies. This study attempted to rate the impediments based on their severity using the voices of artisan entrepreneurs.

A mixed-method approach combining qualitative and quantitative data analysis was followed to identify the leading causes of the artisans' pain points. In the first phase, empirical observations were gathered through focus group discussions with artisan entrepreneurs, and the identified factors were quantitatively ranked using the analytic hierarchy process in the second phase.

The mixed-method research assisted in identifying the primary constraints affecting the efficient and effective operation of the artisan-driven small handicraft business. This study identified six factors that were ranked based on the voices of artisan entrepreneurs during the survey, as barriers to effective handicraft marketing.

Few studies on the handcraft industry have sought to explore the issues faced by artisan businesses holistically. The voices of artisan entrepreneurs were gathered for this study to identify and rate the present obstacles influencing the functioning of small handicraft firms in emerging nations. Handicraft marketing will become more effective and efficient if these barriers are removed.

Purpose – This study investigates the sociodemographics, late entry to antiretroviral therapy (ART), and clinical markers associated with AIDS-related mortality.

Methodology/Approach – Applying retrospective cohort design, 960 medical records of people who died of AIDS, from October 2006 to December 2014, were accessed from the ART center at tertiary health care center of Ranchi (India).

Findings – With useable data from 889 medical records revealed that the majority of people who died of AIDS consisted of married males in the age group of 19–40 years who were truck drivers, migrant laborers, and of rural origins. The median survival period was below 3 months following the ART. Males and people on the pre-ART group had a shorter survival period than their counterparts. Early mortality was associated with lower CD4+ T cell counts, the third or fourth clinical stage, ambulatory or bed-ridden functional status, and poor medication adherence.

Research limitations/implications – This study was limited to the analysis of AIDS deceased people only; it did not compare the survival duration with living people on ART. The lower CD4+ T cell counts and medication adherence, being strong predictors of mortality, can be addressed to attain higher survival rates of people who have AIDS.

Originality/Value of Paper – This is the first study conducted in the tribal-populated region, covering a large sample of 889 cases. Unique findings of this study update the existing data on AIDS-related mortality.

The purpose of this paper is to investigate the activities of environmental consciousness from socio-psychographic perspectives and hence evaluates its effect on brand equity through intervening elements of environmental attributes (EAt). It further attempts to research the effect of the environmental performance, environmental communication and environmental positioning in enhancing brand equity. Indian refrigeration industry, particularly the air conditioners and refrigerator brands are chosen to convey and receive the research inputs as their impact on environment is easily interpretable.

A hypothesized model comprising the environment consciousness and association dimensions with brand equity is framed. In total, 74 expert respondents from four state capital cities of India participated in the survey and the model has been tested in the scope of analytical hierarchy process (AHP).

The result shows that the EAt and activities can be prioritized and subsequently efficient resource allocation can be done. It also gives theoretical arguments to legitimize the environmental practices.

On the other hand, clients have numerous options, and a competitive advantage may not be maintained. Regardless of the fact that clients are environmentally conscious of a given refrigeration brand at the present time that they are utilizing, they may observe that they are much more charmed with a competitors’ enhanced environmental dimensions. All methods that take a try at an enhanced brand equity must be continually determined by environmental consciousness. The above can be accomplished if the evaluations of competitors by the clients are known. The AHP-ECBE technique depicted in this study accordingly helps refrigeration organization to devise and keep up a pertinent, focused plan for persistent improvements in environmental dimensions. It offers a “greater image” in brand equity administration.

If legitimately done in a generalized way, environmental activities like eco-literacy, interpersonal influence and value orientation can impact EAt and contribute in building brand equity.

This study investigates the quantitative aspect of the various strains of operational excellence (OE) and competitive-potential (CP) in the SME sector. It has five steps, i.e., identifying the key performance constructs of OE and their hypothesized relationship pattern from literature, validating these constructs through factor analysis, formalizing their empirical relationships by structural-equation-modeling (SEM), path analysis of performance constructs with the empirical results, and lastly proposing a framework for OE deployment in SMEs.

Data for the deployment scores of operational excellence procedures (OEPs) were collected through a structured questionnaire survey. Nine hundred participants from a stratified random sample were approached for the survey, and 473 responses were received. Sample stratification was based on Gender, Education, Experience, Position, Department and Industry. Respondents had 5–30 years of experience managing manufacturing operations, holding the manager position and above.

The path analysis of the structural model provides unique insights into OE's practical aspects in SMEs (small and medium enterprises). For example, Contractual-conformance and Process-efficiency play pivotal roles as both have a significant positive impact on CP. Supplier efficacy, Consistency and Product-excellence do not improve CP unless mediated by Contractual-conformance or Process-efficiency.

The study provides important implications for academia, policymakers and managers. The study identifies and validates the operational excellence key performance practices and proposes a framework for manufacturing organizations. SME managers can follow the framework to develop effective operational excellence strategies to help them achieve their organizational goals. Additionally, the study emphasizes the need for continuous culture in SMEs, which will help to support operational excellence deployment. Overall, the implications presented in the study will help SMEs to enhance their competitiveness and operational performance.

The study explores the empirical investigation of the operational excellence deployment in SMEs. The study uses a mixed method approach for research design, including qualitative and quantitative approaches, and uses SEM to test the proposed framework. Validation of OE's six key performance constructs and establishing their empirical relation is an attempt to advance the Operations excellence theory. Unlike large enterprises, SMEs demonstrate an incohesive response to the practices pertaining to Supplier efficacy, Consistency and Product-excellence. This unique response pattern requires special treatment, which is incorporated into the proposed framework.