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The study investigates the impact of the interaction effect of product market competition and rollover risk on the default risk of the firms.

The study used the sample of unbalanced panel data from Indian corporates without any survivability bias over the period from 2009 to 2020 consisting of 30,396 firm-year observations of 6,718 firms spread across 143 industry groups. The panel data regression tests the interaction effect in the context of the asset substitution problem, predation threat theory, competitive shock, and competitive risk.

The empirical results highlighted the dominance of the predatory effect of competition over the disciplinary advantage of short-term debts. The competitive shock to the industry results in a higher credit spread for refinancing short-term debt and significantly increases rollover risk for firms. Smaller firms have higher default risk from rollover losses than larger firms in the face of competition due to asset-substitution problems and strong rivalry. For firms with weaker fundamentals, the interaction effect of rollover risk and competition exacerbates the flight-to-quality problem, resulting in a systemic event.

The investors can benefit by factoring ex-ante the interdependence of competition, debt market illiquidity, and default premia while calculating the credit risk. The shareholders of competitive firms can reduce the moral hazard of refinancing the rollover losses and defaulting at a higher fundamental default threshold, by reducing sub-optimal utilization of funds by managers and agency costs.

As per the best of author knowledge, the present study is the first to study the moderating effect of product market competition in exacerbating default risk through the rollover channel.

The purpose of this paper is to investigate the moderating role of cultural factors (concern for face and stability of attribution) in the relationships among service recovery quality, postrecovery satisfaction and repurchase intention. Based on the politeness theory, this paper proposes a theoretical model for understanding how concern for face and stability of attribution may affect collectivists’ consumption behavior.

Data were collected in a field survey of 600 Hong Kong consumers who had experienced a telecommunications service failure. Partial least squares structural equation modeling (PLS-SEM) was used to test the theoretical hypotheses.

A cultural factor of concern for face is found to negatively moderate the relationship between service recovery quality and postrecovery satisfaction. Face also positively influences the relationship between postrecovery satisfaction and repurchase intention. Another cultural factor, stability of attribution, is found to negatively moderate the relationship between service recovery quality and postrecovery satisfaction and to negatively moderate the relationship between postrecovery satisfaction and repurchase intention.

This study contributes to the understanding of the relevance of concern for face and stability of attribution in collectivists’ consumption behavior. The findings have significant implications for managers in a position to exploit the cultural value mechanisms of collectivist consumers.

To the best of the authors’ knowledge, this has been the first research to examine the impact of concern for face and stability of attribution among service recovery quality, postrecovery satisfaction and repurchase intention.

This study examines how the characteristics of innovation knowledge exchanged among affiliate firms affect the ownership strategies adopted for their foreign subsidiaries.

This study employs a cross-classified multilevel model to examine a sample of 185 Korean manufacturing affiliates derived from 49 Chaebols engaged in international diversification, along with their 1,110 foreign manufacturing subsidiaries.

While exploratory innovation knowledge exchange lowers the affiliate's level of ownership in its foreign subsidiary, exploitative innovation knowledge exchange rather increases the affiliate's level of ownership in its foreign subsidiary.

This study advances the literature on intrafirm knowledge exchange by highlighting it as a determinant of ownership strategies. The study further shows that the characteristics of knowledge exchanged at the affiliate level not only determine the ownership structure but also have the potential to shape the direction in which the subsidiary develops its competencies.

This study has practical implications for the managers of business group affiliates. The results suggest that managers should adapt their ownership strategies according to the type of knowledge exchanged at the affiliate level to achieve a balanced and synergistic effect on intraorganizational knowledge exchange.

Previous studies have extensively explored the performance implications related to knowledge exchange. However, there is a notable gap in understanding the mechanisms through which the value of knowledge transferred within an affiliate is realized. To address this gap, this study focuses on ownership strategy as a crucial factor and empirically examines how the characteristics of innovation knowledge exchanged among affiliate firms influence the ownership strategies adopted for their foreign subsidiaries. By investigating this relationship, this study provides valuable insights into the complex dynamics of knowledge exchange and its effect on ownership decisions within business group affiliates.

This study investigates the moderating effect of eco-destination image on the relationships between travel motivations and ecotourism intention.

The study employs the convenience sampling method to develop a research sample, and the multivariate data analysis method to analyse the data of 435 valid observations collected in the structured questionnaire survey conducted in Vietnam.

The paper reports that the eco-destination image significantly strengthens the effects of four travel motives (i.e. excitement, escape, knowledge-seeking and self-development) on ecotourism intention. However, the moderating impact of eco-destination image on the link between socialising motive and ecotourism intention is insignificant.

This study is the first to shed light on the role of eco-destination image in strengthening the effects of travel motivations on ecotourism demand. The study provides a framework for segmenting promotion materials associated with destination image based on different types of customers' internal travel motivations. The framework includes four dimensions: (1) destination image reflecting enablers of excitement, (2) destination image reflecting enablers of escaping from daily life routine, (3) destination image reflecting enablers of knowledge-seeking and (4) destination image reflecting enablers of personal development.

Only a small number of studies have analysed the sustainability of the socio-cultural impacts of volunteer tourism (VT). Existing research tends to focus on volunteers, the host communities and organisations, while the interconnectedness between theories (of capitals) and concepts (i.e. empowerment and sustainability) have received minimal attention. Sustainability is considered both an effect of empowerment and a means for achieving it. Drawing on the perspectives and theoretical concepts related to multiple forms of capital, this paper aims to take an interpretive stance to examine socio-cultural impacts.

This research draws on 37 semi-structured interviews conducted with stakeholders on the perceived socio-cultural impacts of VT on two farm communities in Vietnam. A qualitative thematic coding analysis was used to identify themes that explain the perceptions of the stakeholders within the host communities.

The findings of this study were divided into the nine themes of educational effects, job opportunities, cultural exchanges, relationships, health, awareness of environmental conservation, physical changes, promoting local products and tourism and community resource development. The research provides additional insights into the interconnectedness between different types of capital, empowerment and sustainability of socio-cultural impacts.

VT organisations should provide more opportunities for local residents to become involved in decision-making regarding volunteer activities and to share their voices and concerns about how the VT programmes are set up. The government could provide support services or training and skills to locals after the volunteers leave, which would be significant in developing and maintaining the sustainability of impacts on host communities.

This research creates a model for connecting capital to sustainability and empowerment to study the socio-cultural impacts of VT.

只有少数研究分析了志愿旅游（VT）社会文化影响的可持续性。现有的研究往往集中在志工、所在社区和组织上, 而理论（资本）和概念（即赋权、永续性）之间的相互联系很少受到关注。永续发展既被认为是赋权的效益, 也是实现赋权的一种手段。研究借鉴与多种资本形式相关的观点和理论概念, 并采取说明式立场来检视社会文化影响。

本研究借鉴了与利害关系人进行的 37份半结构化访谈, 了解 VT 对越南两个农场社区的社会文化影响。使用定性主题编码分析来确定能够解释主办社区内利害关系人看法的主题.

结果分为教育效果、就业机会、文化交流、人际关系、健康、环境保护意识、身体变化、推广当地产品和旅游业以及社区资源开发九个主题。该研究为不同类型的资本、赋权和社会文化影响的可持续性之间的相互联系提供了更多见解。

旅游志工组织应为当地居民提供更多机会参与志工活动的决策, 并分享他们对VT计画如何设立的意见与担忧。政府可以在志工离开后向当地人提供支持服务或培训和技能, 这对于发展和维持对东道社区影响的可持续性具有重要意义。

这项研究创建了一个将首都与永续发展和赋权联系起来的模型, 以研究 VT 的社会文化影响。

Sólo un pequeño número de estudios han analizado la sostenibilidad de los impactos socioculturales del turismo de voluntariado (VT). Las investigaciones existentes tienden a centrarse en los voluntarios, las comunidades de acogida y las organizaciones, mientras que la interconexión entre las teorías (de los capitales) y los conceptos (es decir, empoderamiento, sostenibilidad) han recibido una atención mínima. La sostenibilidad se considera tanto un efecto del empoderamiento como un medio para lograrlo. Basándose en las perspectivas y conceptos teóricos relacionados con múltiples formas de capital, la investigación adopta una postura interpretativa para examinar los impactos socioculturales.

Esta investigación se basa en 37 entrevistas semiestructuradas realizadas con partes interesadas sobre los impactos socioculturales percibidos de VT en dos comunidades agrícolas en Vietnam. Se utilizó un análisis de codificación temática cualitativa para identificar temas que explican las percepciones de las partes interesadas dentro de las comunidades anfitrionas.

Los hallazgos de este estudio se dividieron en nueve temas de efectos educativos, oportunidades laborales, intercambios culturales, relaciones, salud, conciencia de la conservación ambiental, cambios físicos, promoción de productos locales y turismo, y desarrollo de recursos comunitarios. La investigación proporciona información adicional sobre la interconexión entre diferentes tipos de capital, el empoderamiento y la sostenibilidad de los impactos socioculturales.

Las organizaciones de turismo de voluntariado deberían brindar más oportunidades para que los residentes locales se involucren en la toma de decisiones relativas a las actividades de voluntariado y compartan sus voces e inquietudes sobre cómo se establecen los programas de VT. El gobierno podría brindar servicios de apoyo o capacitación y habilidades a los locales después de que los voluntarios se vayan, lo que sería importante para desarrollar y mantener la sostenibilidad de los impactos en las comunidades anfitrionas.

Esta investigación crea un modelo para conectar las capitales con la sostenibilidad y el empoderamiento con el fin de estudiar los impactos socioculturales de VT.

Drawing on social network and information diffusion theories, the authors study the impact of the structural characteristics of a seller’s local social network on her promotion effectiveness in social commerce.

The authors define a local social network as one formed by a focal seller, her directly connected users and all links among these users. Using data from a large social commerce website in China, the authors build econometric models to investigate how the density, grouping and centralization of local social networks affect the number of likes received by products posted by sellers.

Local social networks with low density, grouping and centralization are associated with more likes on sellers’ posted products. The negative effects of grouping and centralization are reduced when density is high.

The paper deepens the understanding of the determinants of social commerce success from a network structure perspective. In particular, it draws attention to the role of sellers’ local social networks, forming a foundation for future research on social commerce.

Since the passage of the Double Jeopardy (Scotland) Act 2011, mirroring changes in other jurisdictions, a person who has been acquitted in Scotland can, under certain circumstances, be retried for that offence. Jurors could have knowledge of the previous acquittal verdict (whether not guilty or not proven) through media sources, potentially biasing the new jury in their decision-making. The purpose of this study is to detemine the influence of knowing a trial is a retrial, on conviction rates.

The current study invited 253 participants to give a verdict to a mock murder trial after either receiving pretrial information about the original verdict or no information about the case being a retrial.

Significantly more acquittal verdicts were given when the participants were told that it was a retrial, compared to the control condition, irrespective of whether the prior verdict was not guilty or not proven.

Findings are discussed in light of jurors’ knowledge of legal concepts and acquittal verdicts and the increasing exposure of the general Scottish public to the not-proven verdict due to increased media coverage.

Vocational education in Hong Kong suffers from an image problem. Stakeholders often perceive it as a second-best option for those who fail to advance in academic education. In 2016, to promote vocational education, the Hong Kong government launched a publicity campaign and rebranded vocational education and training (VET) as vocational and professional education and training (VPET). This study critically analyzes the new discourse crafted by this campaign and assesses its potential to change VPET’s status.

This study applies critical discourse analysis to the set of television public service advertisements produced as part of the government publicity campaign.

The messaging of the publicity campaign consists of two major discursive strategies. One stresses the ability to find self-fulfillment through VPET. The other stresses the academic ability and middle-class status of VPET students as well as the non-manual and high-end career opportunities for graduates. While the first strategy offers a new basis on which to value VPET, the second recreates assumptions about the value of academic achievement and what constitutes respectable employment, even as it attempts to challenge stereotypes. It reinforces that the ultimate goal of education is financial gain and social status. It overlooks other values of education and the potential value of VPET in enhancing individual choice and agency.

Discourse analysis does not provide information about audience perceptions and interpretations.

The government could consider reframing their messaging in terms of the diverse values and experiences of VPET students. Highlighting the values that VPET students themselves see in their education provides alternative discourses that can better challenge hegemonic ideas.

To the best of our knowledge, this is the first discourse analysis of the government’s publicity campaign to promote VPET.

Conversations around diversity, race and science fiction and fantasy films/television have sparked in response to recent casting decisions made in the upcoming live-action The Little Mermaid, The Lord of the Rings: The Rings of Power and Star Wars' Obi-Wan Kenobi (Deggans, 2022; Romano, 2022). Backlash against casting of actors of Color in these genres highlights racial projects where a cultural memory of whiteness comes up against multicultural change. The authors of this paper feel that there is great potential in using current-day racial issues around fantasy films/television to explore these racial projects with students in social studies classes (Omi and Winant, 2014).

Using a qualitative textual analysis (Peräkylä, 2005), the authors examined online news media outlets addressing the casting of actors of Color in the aforementioned media pieces. After reviewing over twenty articles, the authors determined two major themes that would serve as the findings.

In this paper, themes of nostalgia for an imagined ‘way things were’ and future-based fears of how things will become emerged from the analysis, revealing a need for engaging students in the history of sci-fi and fantasy media, and the existing, diverse histories of storytelling featuring multiple races.

The authors argue that examining racial projects found in contemporary sci-fi and fantasy casting are chances for students to understand complex racial histories and how they blend into current-day cultural landscapes, and are opportunities to practice analysis of real-life racial histories and richly-imagined fantasy worlds, noticing how and why the two often collide when it comes to race.