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We propose a risk factor for idiosyncratic entropy and explore the relationship between this factor and expected stock returns.

We estimate a cross-sectional model of expected entropy that uses several common risk factors to predict idiosyncratic entropy.

We find a negative relationship between expected idiosyncratic entropy and returns. Specifically, the Carhart alpha of a low expected entropy portfolio exceeds the alpha of a high expected entropy portfolio by −2.37% per month. We also find a negative and significant price of expected idiosyncratic entropy risk using the Fama-MacBeth cross-sectional regressions. Interestingly, expected entropy helps us explain the idiosyncratic volatility puzzle that stocks with high idiosyncratic volatility earn low expected returns.

We propose a risk factor of idiosyncratic entropy and explore the relationship between this factor and expected stock returns. Interestingly, expected entropy helps us explain the idiosyncratic volatility puzzle that stocks with high idiosyncratic volatility earn low expected returns.

Eco-innovation is emerging as one of the most important constructs that improve environmental sustainability of firms. However, it has been shown that companies alone cannot adequately develop eco-innovation activities, which is why they require the implementation of external collaboration activities with intermediaries, suppliers and stakeholders to achieve a higher level of eco-innovation activities and improve business performance of manufacturing firms. Therefore, this research fills this gap by exploring the importance of the relationship between collaboration and eco-innovation.

The research is conducted through an extensive literature review with a research model consisting of 5 measurement scales, 24 items and 4 hypotheses. A self-administered questionnaire was distributed to a sample of 460 firms in Mexico, analyzing the data set through confirmatory factor analysis and structural equation models.

The results obtained from this study suggest that collaboration has significant positive effects both on the eco-innovation of products, processes and management, as well as on the business performance of companies in the automotive industry.

The findings of this study have important implications both for the public administration (e.g. development of policies to support companies and financing programs) and for the managers of companies in the automotive industry (e.g. training program for employees and collaboration with other firms).

This paper fills a research gap by expanding the limited body of knowledge that relates collaboration eco-innovation and business performance, which is why this research aims to fill this existing gap in the literature and explore the relationship between collaboration, eco-innovation and business performance.

This study adopts the dynamic capabilities perspective to analyze environmental performance in family firms and explores the moderating effects that both family involvement in the Top Management Team (TMT) and long-term orientation (LTO) exert on the relationship between dynamic capabilities and environmental performance.

The authors test the hypotheses on a database of 748 family tourism firms, using hierarchical regression analysis.

The authors' results show that both variables have a beneficial effect on building the dynamic capabilities to be applied to improving environmental performance. However, the moderating effect of family involvement is revealed to be more complex than that of LTO. Having a high degree of family managerial involvement positively moderates the effect of dynamic capabilities on environmental performance but only in family firms with highly-developed dynamic capabilities; conversely, in family firms with lower levels of dynamic capabilities not having this family involvement in the TMT is better.

This study helps advance the research on Spanish family tourism firms by adopting an approach that unveils the heterogeneity in dynamic capabilities among said firms, driven by the firms' idiosyncratic features in terms of family involvement in the TMT and their LTO. The article also provides practical insights for family business owners, managers and advisors and outlines important directions for future research.

The purpose of this paper is to explore and establish the contours of trust in learning analytics and to establish steps that institutions might take to address the “trust deficit” in learning analytics.

“Trust” has always been part and parcel of learning analytics research and practice, but concerns around privacy, bias, the increasing reach of learning analytics, the “black box” of artificial intelligence and the commercialization of teaching and learning suggest that we should not take stakeholder trust for granted. While there have been attempts to explore and map students’ and staff perceptions of trust, there is no agreement on the contours of trust. Thirty-one experts in learning analytics research participated in a qualitative Delphi study.

This study achieved agreement on a working definition of trust in learning analytics, and on factors that impact on trusting data, trusting institutional understandings of student success and the design and implementation of learning analytics. In addition, it identifies those factors that might increase levels of trust in learning analytics for students, faculty and broader.

The study is based on expert opinions as such there is a limitation of how much it is of a true consensus.

Trust cannot be assumed is taken for granted. This study is original because it establishes a number of concerns around the trustworthiness of learning analytics in respect of how data and student learning journeys are understood, and how institutions can address the “trust deficit” in learning analytics.

Adventure activities have become the core products of many tourism destinations. Hiking, which is known to be a soft adventure activity, represents an especially important product for many tourism destinations around the globe and in the European Alps. However, little research has explored hikers’ underlying motivation and experiences, which are expected to differ from the hard adventure context, as mountain hiking provides a low risk, but high immersion. This paper aims to determine and explore the underlying dimensions and dynamics of mountain hikers’ soft adventure motivation (SAM).

A concurrent mixed-method design that builds on a quantitative survey (N = 379) and qualitative interviews (N = 14) was used to explore SAM factors. This study combined exploratory factor analysis and regression analysis with semi-structured interviews and template analysis.

The quantitative results provide six SAM factors and emphasize that “relaxation,” “socializing” and “discovery” contribute to hiking satisfaction, while “recognition” has adverse effects. By triangulating these findings with hikers’ experiences, this study underlines the associated recreational meaning of hiking and provides an in-depth qualitative discussion of SAM factors and the subordinate role of “recognition.”

The contribution of this paper is a refined understanding of SAM in the hiking context by emphasizing the recreational meaning of mountain hiking. As a result, this study adds an important missing link to previous outdoor tourism and leisure studies by showing the special composition and dynamics of SAM. The findings also support the creation of tailor-made touristic products.

探险活动已经成为许多旅游目的地的核心产品。其中徒步旅行被认作为一种“轻松”探险活动并且代表着全球众多旅游目的地及欧洲阿尔卑斯山的重要产品。然而, 很少有研究探索远足者的潜在动机和经验, 由于徒步远足的风险较低, 但参与感高, 因此预计于艰苦的冒险环境有所不同。因此, 本文确定并探索了山地徒步者“轻松”冒险动机的潜在维度和动力。

采用基于定量调查(N = 379)和定性访谈(N = 14)的并行混合方法设计来探索SAM因素。因此, 我们将探索性因子分析和回归分析与半结构化访谈和模板分析相结合。

定量结果提供了6个SAM因素, 并强调“放松”、“社交”和“发现”有助于提升满意度, 而“认知”则有负面影响。通过将这些发现与徒步旅行者的经历进行三角分析, 我们强调了徒步旅行的相关娱乐意义, 并对SAM因素和“识别”的从属作用进行了深入的定性讨论。

本文的贡献在于通过强调登山的休闲意义, 对徒步情景下的SAM进行了精细化的理解。因此, 我们通过展示SAM的特殊组成和动态, 为之前的户外旅游和休闲研究添加了一个重要的缺失环节。最后, 研究结果支持了定制旅游产品的创造。

探险旅游, 动机, 软探险, 徒步

研究论文

Las actividades de aventura se han convertido en uno de los productos principales de muchos destinos turísticos, especialmente el senderismo, una actividad de aventura de baja dificultad que representa un producto importante para muchos destinos turísticos alrededor del mundo y en los Alpes europeos. Sin embargo, pocas investigaciones han estudiado la motivación y las experiencias subyacentes de los excursionistas, las cuales se espera que difieran del contexto de aventura de alta dificultad, ya que el senderismo de montaña proporciona un bajo riesgo pero una alta inmersión. Por lo tanto, este documento determina y examina las dimensiones y dinámicas subyacentes de la motivación de aventura de baja dificultad (SAM, por sus siglas en inglés) de los excursionistas de montaña.

Se utilizó un diseño de método mixto concurrente que se basa en una encuesta cuantitativa (N = 379) y entrevistas cualitativas (N = 14) para explorar los factores de SAM. De este modo, se combinó análisis factorial exploratorio y análisis de regresión con entrevistas semiestructuradas y análisis de plantillas.

Los resultados cuantitativos aportan seis factores de SAM y enfatizan que la “relajación”, la “socialización” y el “descubrimiento” contribuyen a la satisfacción del senderismo, mientras que el “reconocimiento” tiene efectos adversos. Al relacionar estos hallazgos con las experiencias de los excursionistas se destaca el significado recreativo asociado al senderismo y se brinda una discusión cualitativa profunda de los factores de SAM y el papel subordinado del “reconocimiento”.

La contribución de este artículo es una comprensión refinada de la SAM en el contexto de senderismo al enfatizar el significado recreativo del senderismo de montaña. De este modo, se suma un importante eslabón perdido a los estudios anteriores de turismo al aire libre y de ocio al mostrar la composición y dinámica especial de la SAM. Por último, los resultados respaldan la creación de productos turísticos hechos a la medida de las preferencias de los turistas.

In a knowledge-based economy, employees’ perception of psychological safety in their wok unit is critical for group conflict. The purpose of this study is to investigate the mediating role of psychological safety between the predictors (i.e. organizational trust and empowering leadership) and the outcome variable, group conflict.

Data was drawn from 633 employees from a global automobile company headquartered in South Korea. Construct validity of the measurement model was examined using a confirmatory factor analysis. The hypothesized model was tested by a structural equation modeling and the bootstrap analysis.

Organizational trust and empowering leadership accounted for 68% of the variance in employees’ psychological safety. The three antecedents (i.e. organizational trust, empowering leadership and psychological safety) explained 20% of the variance in group conflicts. Psychological safety significantly and fully mediated the relationship between organizational trust and group conflict and the relationship between empowering leadership and group conflict.

Human resources and organization development professionals can help employees feel more psychologically safe in an organization by developing empowering leaders and making more trustworthy organizational culture. When employees perceive a high level of psychological safety, they are likely to feel less conflict in their team.

This study examined the antecedents and consequences of psychological safety of knowledge workers in a non-Western cultural context. Psychological safety played a pivotal role as a mediator. To the best of the authors’ knowledge, this is the first study that empirically found the direct link between organizational trust and psychological safety and the relationship between empowerment leadership and psychological safety.

This article presents our experience in implementing the assessment for learning process (AfL) to enhance the teaching–learning quality, which has faced numerous challenges impacting educational quality. The effectiveness of this technique is demonstrated through a case study conducted in a core course of chemical engineering.

The article shares insights into the systematic course design and planning processes that were discussed and developed through AfL practices. Significant emphasis is placed on implementing formative and summative student self-assessment surveys as simple yet effective methods to meet this purpose. Quantitative data were collected and analyzed over three consecutive academic years (2020–2022) using various statistical parameters such as percentage, interquartile range and the program’s numerical goal (%G).

The AfL process via formative and summative surveys could significantly and effectively improve teaching–learning quality. These findings assist educators in identifying appropriate teaching methods and recognizing areas of weakness and strength, thereby facilitating continuous improvement in the teaching–learning quality. Validation methods, including quizzes and numerical grades, were employed to practically verify the outcome obtained from the questionnaires.

The AfL techniques demonstrated in this study can be directly implemented or adapted for various educational fields to enhance the teaching–learning quality.

The practical implementation of AfL in an engineering context has hardly been reported, particularly in chemical engineering. This work represents the practical implementation of AfL to enhance engineering field education.