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Written communication differences across cultures can set the tone for effective or disastrous business relationships. Although English has been the go-to language in business, managers from different countries can significantly differ in how they convey the firms' information. This study explored these differences by examining the documentation presented by foreign corporations as part of their initial public offering (IPO) in the USA, particularly Chinese firms.

This work examined cultural-related differences in written communications by looking at foreign corporations' descriptions of their strengths, strategies and challenges included in F-1 documents submitted to the Securities and Exchange Commission as part of the IPO process. The sample consisted of 97 American depositary receipts (ADRs) identified in the Bank of New York Mellon's ADR directory from 2003 to 2015.

This study found that Chinese firms significantly differ from other countries' firms in depicting their strengths, strategies and challenges.

Limitations have to do with the sample size. Future research may address this by considering other depositary markets, not just the USA.

The results will be significant for potential ADRs investors; they must be conscious of these differences in the written documentation submitted by Chinese firms compared to other foreign firms. The market should also be aware of these differences, as the Chinese seem less open to sharing information about the under spinning of their operations and financial prospects.

This research aims to establish the role of the purchasing function’s strategic alignment in the relationship between well-established practices and performance in that function. It is argued that the strategic alignment of purchasing may have effects (direct, mediating and moderating effects) on the purchasing function’s operating performance.

The hypotheses derived from key studies about strategic and advanced purchasing practices are tested with data from 156 industrial companies using structural equation modelling methodology.

The results suggest that the effect of strategic alignment on the role of purchasing consists of mediated effects on purchasing performance through implementation of certain advanced practices. It was also concluded that strategic alignment – as well as the implementation of these advanced purchasing practices – fosters the implementation of differentiation strategies based on quality, dependability and flexibility rather than on the implementation of cost leadership strategies.

Although it is a common practice in operations management research, the use of perceptual measures obtained from a single informant constitutes a noteworthy limitation. Future research should make an effort to combine different sources of information and to identify and use more objective indicators.

Top managers should take into account the need to involve the purchasing function in the firm’s strategic planning process.

The results not only confirm findings from previous literature as to the purchasing function’s strategic relevance but also help clarify the mechanisms that make this integration important.

The purpose of this paper is to analyze the adoption process of e-book readers and examine how the perception concerning the advantages of this technology and its incompatibility with consumer values determine the pleasure felt and its effective use. The authors also propose that consumer involvement with information and communication technologies (ICTs) moderates these effects.

Hierarchical moderated regression analysis is used to test the proposed model with survey data from a sample of e-book reader owners.

Appraisal of the device’s reading features and the possibility for free downloading increases the pleasure found with its use and the extent to which it is actually used, whereas attachment to paper books decreases the emotional feeling, with some of these effects being moderated by the individual’s involvement with new ICTs. Pleasure mediates the influence of perceived advantages and attachment to the older technology on the use of the e-book reader device.

Two challenges to practitioners are suggested: to overcome the rejection of users who are less eager to experience pleasure and to use the e-reader, and to find the product’s objective or sensory characteristics that provide pleasure and promote long-lasting use.

The study extends previous studies on e-book readers by emphasizing the need to go beyond adoption intention. It analyzes effective use as a crucial measure of the true adoption of this technology and incorporates the perspective offered by the appraisal theory of emotion, which explains the key role of pleasure in this process.

This study examines the risk-adjusted performance of socially responsible exchange traded funds (SR ETFs) in comparison to conventional ETFs.

The main empirical result is based on a risk-adjusted performance metric that does not rely on a linear framework. It measures the difference between the returns of an ETF and the returns of a volatility-match and efficient portfolio. In addition, performance is measured using alpha based on single and multifactor formulations.

Results show that the performance of SRI ETFs is not different from the performance of conventional ETFs.

Given the results of the study, socially aware investors can choose to invest in SRI ETFs without sacrificing performance.

Patents and patent citations provide a solid signal to investors about a firm’s innovation agenda. This signal can be even more useful for investors demanding securities from foreign firms, given the asymmetric information and adverse selection risk they face. This study aims to examine the patenting activities in the USA performed by non-US companies that trade as American Depositary Receipts (ADRs) in US stock markets.

The authors examine the effect on the trading volume of a sample of ADRs following the publication of their first patent in the USA.

The results show that the publication of a first patent has no effect on the liquidity of these ADRs when compared with same-country ADRs without patents.

This study enriches the literature on the relation between innovation, information and the stock market.

This study examines the influence of the presidential elections on the behaviour of US investors according to the trading activity of two of the most popular investment vehicles: exchange-traded funds and close-ended funds.

Based on the fact that investors in these two investment vehicles differ by, at least, two demographic factors that influence investment decisions, age and labour status, inferences are made about the degree of interest and the amount of trading activity that presidential elections provoke.

The evidence demonstrates that, during the last four US presidential elections, exchange-traded funds' investors trade significantly more than close-ended funds' investors during several event windows centred on the day of an election in which a republican candidate is elected. Close-ended funds' investors are more active during the election of a democratic candidate, although the statistical evidence in that regard is weak. Thus, it appears reasonable to conclude that younger investors who are gainfully employed are induced to trade by a presidential election in which a republican candidate prevails. Apparently, a democratic victory does not provoke the same behaviour.

Although the relation between politics and economics is not an unexplored topic, it is not clear whether the presidential elections themselves constitute an event that triggers the trading behaviour of investors.

The purpose of this paper is to investigate the relationship between single-state municipal bond fund risk and water scarcity in the USA.

The authors compare the risk profiles of funds from states with limited water resources with those from states without this issue.

The authors find that, as expected, funds from southern and western states, which suffer from water scarcity, are riskier than funds from other regions within the mainland USA. Although this study is concerned with which funds are riskier, it is noted that funds from the northeast are significantly less risky than funds from other regions.

Due to limited water resources, crumbling water infrastructure and continuous water-rights legal battles, water resources in the USA have become a highly sought-after commodity. In this study, we contribute to the discussion on the many repercussions of water scarcity on financial assets.

This research is primarily concerned with studying the impact of brand workers' problems on brand deletion (BD) outcomes. The authors also analyze how the level of consensus achieved during BD adoption and implementation influences the impact of brand workers' problems on BD outcomes.

A questionnaire was designed to obtain data from a representative sample of 155 real cases of BD.

Findings indicate that in contexts where workers feel their jobs are threatened or challenged, BD success may be undermined. However, the company does possess one important mechanism that can alleviate the negative impact of brand workers' problems: empowering them to pave the way toward consensus-building. Results do not support a negative effect of brand workers' problems on BD time efficiency or any effect of BD time efficiency on BD's contribution to a firm's economic performance.

Managers must be aware that problems derived from brand workers' actions are especially harmful for the company when there is no consensus, such that managers must prevent deletion from occurring under these circumstances.

This pioneering study proposes and empirically validates the relationship between brand workers' problems and BD success and BD time efficiency, moderated by consensus.

This study aims to examine the herding behavior of socially responsible exchange traded funds (SR ETFs) in comparison to conventional ETFs during the COVID-19 pandemic.

To test for herding behavior, the authors use the cross-sectional absolute deviation and a quadratic market model.

During the pandemic, investments in socially responsible financial products grew rapidly. And investors in the popular SR ETFs herd during this special period, while holders of conventional ETFs did not.

Investors in socially responsible investments must do their own research and make their own financial decisions, rather than follow the crowd, especially during extreme events like the COVID-19 pandemic.

The evidence shows that, during the pandemic, socially responsible ETFs behaved in line with theoretical predictions of herding, that is, herding is more significant during extreme market conditions.

This study aims to examine investor attention by exploring the trading behavior of investors in US-based exchange traded funds (ETFs) of countries active in the Federation Internationale de Football Association (FIFA) World Cups.

The present study employs event study methodology to measure abnormal returns and excess trading volume of country-specific ETFs during six FIFA World Cups. The sample of ETFs includes 19 participating countries.

Consistent with investor behavior that might be explained by attention effect, the study finds that country-specific ETFs from participating countries do indeed behave differently during FIFA World Cups events. The authors find significant evidence of abnormal trading volume and, albeit weaker, abnormal returns during cups.

This study contributes to the literature on investor behavior, linking investor attention with salient sports events.