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This paper aims to examine and compare the dividend ratios’ statistical and economic ability to predict the equity premium in the UK and US markets and two US sub-indices (S&P 500 Growth and S&P 500 Value).

In this paper, the authors use the linear regression models to examine the dividend ratios’ statistical ability to predict the equity premium. The in-sample and out-of-sample approaches, including Diebold and Mariano (1995) statistics, and Goyal and Welch’s (2003) graphical approach, are used. Also, the mean-variance analysis is used to test the economic significance.

The paper findings indicate that the dividend ratios have in-sample and out-of-sample predictive abilities in both UK and US markets and both US sub-indices. However, the results show that the dividend ratios have a less impressive predictive ability in the US market compared to the UK market and less in the US value index than the US growth index. This could indicate that there is no relation between the number of companies that distribute dividends in each index and the informativeness of dividends ratios. Furthermore, the tests show the dividend ratios’ predictive ability departure during particular periods and in some indices.

Results and implications of this research are exclusively applied to the US and UK markets. These results can also be applied with caution to other markets, taking into consideration the distinctive characteristics of these markets.

Results revealed in this paper imply that the investors in any of the indices may experience economic gain by adopting a dynamic trading strategy using the information content of the dividend ratios prediction models instead of the benchmark model, which is the prevailing simple moving average model.

This paper adds value through testing the prediction models’ economic significance in two well-developed markets, in addition to exploring the relationship between the number of companies distributing cash dividends and the dividends ratio prediction ability. Unlike most of the previous studies in which dividend ratios’ prediction ability is attributed to the number of companies that distribute dividends in the market, this paper denied this interpretation by studying two S&P 500 sub-indices. To the best of the authors’ knowledge, this is the first study to test the prediction models’ ability for these sub-indices.

Previous research suggests that emotional intelligence (EI) may benefit managers when resolving conflicts. However, past studies relied on self-reports of EI and conflict management styles, and a theoretical model explaining the mechanisms of the link between EI and conflict management outcomes for managers is still missing. This study aims to test a theoretical model proposing that during conflicts, managers with higher performance-based ability EI are perceived as warmer and more competent, which in turn contributes to higher conflict management effectiveness.

A total of 108 Executive MBA students with managerial experience completed a performance-based EI test designed for the workplace and engaged in a conflict management exercise during which they were videotaped. In the exercise, managers spontaneously responded to video-based vignettes in which “employees” addressed them regarding a work-related conflict (e.g. a disagreement regarding tasks and working hours). Independent observers (n = 262) rated the managers’ videotaped responses on items tapping warmth, competence and conflict management effectiveness.

Managers with higher performance-based EI (in particular, emotion regulation in oneself and emotion management in others) received higher observer ratings on warmth, competence and conflict management effectiveness. Warmth and competence fully mediated the link between EI and effectiveness.

These results demonstrate that managers’ performance-based EI translates into actual work-related behaviors and outcomes. Implications for training EI and effective conflict management are discussed.

This study aims to address the issues of limited pipe diameter adaptability and low inspection efficiency of current pipeline inspection robots, a new type of pipeline inspection robot capable of adapting to various pipe diameters was designed.

The diameter-changing mechanism uses a multilink elastic telescopic structure consisting of telescopic rods, connecting rods and wheel frames, driven by a single motor with a helical drive scheme. A geometric model of the position relationships of the hinge points was established based on the two extreme positions of the diameter-changing mechanism.

A pipeline inspection robot was designed using a simple linkage agency, which significantly reduced the weight of the robot and enhanced its adaptive pipe diameter ability. The analysis determined that the robot could accommodate pipe diameters ranging from 332 mm to 438 mm. A static equilibrium equation was established for the robot in the hovering state, and the minimum pressing force of the wheels against the pipe wall was determined to be 36.68 N. After experimental testing, the robots could successfully pass a height of 15 mm, demonstrating the good obstacle capacity of the robot.

This paper explores and proposes a new type of multilink elastic telescopic variable diameter pipeline inspection robot, which has the characteristics of strong adaptability and flexible operation, which makes it more competitive in the field of pipeline inspection robots and has great potential market value.

The robot is characterized by the innovative design of a multilink elastic telescopic structure and the use of a single motor to drive the wheel for spiral motion. On the basis of reducing the weight of the robot, it has good pipeline adaptability, climbing ability and obstacle-crossing ability.

This study aims to compare the physical fitness test results of Japanese children in 2008 and 2018 to narrow the gap between life expectancy and healthy life expectancy and extend healthy life expectancy. In addition, this paper sought to explore the potential of implementing health education programs as a new social context to promote race equality and human rights in health and social care.

This study was conducted in 2008 and 2018 in Nagano Prefecture, Japan. Physical fitness tests related to growth and development were administered to participants aged 6–17 years.

Physical fitness measurements in 2018, specifically those for walking ability and endurance, were significantly inferior to those in 2008. In a gender-specific analysis, boys outperformed girls in muscle strength, muscle endurance, walking ability and endurance tests, while girls outperformed boys in the balance test.

Most of the junior and senior high school students who participated in the EO test exceeded the upper limit of 120 s, suggesting that the load of the measurement method is low and improvement is necessary. In 2018, a large variation in 6M results was observed among participants, possibly due to the differences in the level of seriousness during the 6M test. Therefore, to ensure that junior and senior high school students properly perform the EO and 6M tests, it is necessary to devise an effective method of implementation, such as changing the physical fitness test load.

Mere health education is ineffective to address health inequalities. Addressing structural factors is essential to avoid unintended consequences such as increasing the gap between groups of people. However, one way to extend healthy life expectancy is to improve overall health, including differences in the health status of groups due to differences in region and socioeconomic status.

It is imperative for policymakers, financial institutions, and individual investors to comprehend the factors that impact stock market participation, given the growing significance of the stock market in terms of personal and national wealth. This study endeavours to explore the relationship between cognitive ability and participation in the stock market. We examine the relationship between cognitive abilities and stock market participation, and further explore the mechanism of their influence.

The data from the China Family Panel Studies is utilized, and Tobit and Probit regressions are employed. Additionally, an instrumental variable approach (IV-estimate) is implemented to address the endogeneity issue linked to cognitive ability, and the study’s findings are resilient.

The results reveal a significant positive relationship between cognitive ability and stock market participation. Additionally, the findings suggest that households with higher cognitive ability tend to aggregate more information, expand social networks, and take more risks. A likely explanation is that individuals with higher cognitive ability are more likely to process more external information and evaluate the subjective uncertainty of stock markets based on a well-defined probability distribution. Our findings indicate that the impact of cognitive ability on stock market participation varies among families with differing education levels, genders, marital statuses, and geographical locations.

Therefore, the roles of cognitive abilities in accelerating stock market participation should be fully considered. More information channels and sources that contain financial markets’ information (e.g. mobile applications and financial education) should be provided. Thus, the significance of cognitive ability in increasing stock market participation should be fully considered. Providing more information channels and sources, such as mobile applications and financial education, that contain financial markets’ information would be helpful. Our study contributes to promoting financial literacy and inclusion by highlighting the significant positive impact of cognitive ability, where institutions can tailor their outreach efforts and information channels to better serve individuals with different cognitive ability.

Press reports have indicated that firms frequently underprice restricted stock and employee stock options. I test for underpricing of stock and options.

I examined a sample of 5,333 private firm stock and option issuances between 1985 and 2017. I tested for underpricing using two approaches: assuming investors have no special market-timing ability and assuming instead they have perfect market-timing ability.

I find evidence of widespread stock and option underpricing by private firms before they go public reflecting large discounts that exceed reasonable compensation for lack of marketability. Unreported underpricing is more frequent in the last pre-IPO private equity transactions that offer the last opportunity to give such discounts before the stock is publicly traded, but the discounts are greater in the earlier pre-IPO transactions where unreported discounts are presumably tougher for the SEC to detect. Underpricing is still detected even when the actual DLOMs are tested against a benchmark that assumes investors have perfect market-timing ability.

Firms frequently underprice restricted stock and employee stock options. Firms tend to underprice stock options more frequently than restricted stock, but restricted stock tends to be priced at deeper discounts when recipients are assumed not to have any special market-timing ability.

Private firms issue restricted stock and options as incentive compensation. Lowballing the valuation transfers wealth from outside stockholders to employees/insiders. Wealth transfers take place through the issuance of equity claims to employees/insiders before firms go public. I found that more than a quarter of the DLOMs exceed the theoretical maximum by, on average, between 16% (median) and 20% (mean). This finding raises two questions worthy of investigation. First, to what extent do the frequency and magnitude of DLOMs above the theoretical maximum depend on whether a board of directors obtains an independent appraisal of a stock’s fair market value? Second, if DLOMs above the theoretical maximum are observed even when the stock is independently appraised, how do appraisers justify such large DLOMs?

The wealth transfers that take place through the issuance of equity claims to employees/insiders before firms go public benefit employees/insiders at the expense of outside shareholders.

My paper is the first to furnish evidence of widespread stock and option underpricing by private firms before they go public; demonstrate that the unreported underpricing is more frequent in the last pre-IPO private equity transactions that offer the last opportunity to give such discounts before the stock is publicly traded and show that the discounts are greater in the earlier pre-IPO transactions where unreported discounts are presumably tougher for the SEC to detect.

This study aims to investigate and propose guidelines to enhance the accessibility of virtual reality (VR) interfaces for all users within professional learning environments. Motivated by a lack of comprehensive accessibility guidelines for VR learning, the study delves into a case study of Edstutia’s VR campus.

This case study examines the intersection of VR platform development and learning experience design through the lens of accessibility in human-computer interaction. It elaborates on how user experience feedback from differently-abled learners who were unable to fully participate in the VR experience due to disability shaped the 2.0 version development of a VR platform.

The outcomes of this case study are (1) a description of an inclusive and empathetic design application to increase multi-learner VR platform accessibility, (2) a sample actionable path from a design/development perspective in ensuring the accessibility design of a VR learning platform, and recommendations to facilitate the design process.

This case is a foundation for further research on improving accessibility in VR. In future work on VR campuses, we recommend scholars undertake research with an inclusive approach that actively involves users with different abilities in shaping guidelines, particularly on how individuals with different abilities should be approached for their input during the design and development process in a sensitive manner.

The authors summarize the steps taken to enhance the accessible interplay between the end users and the interface of VR technology in the emergence of VR accessibility standards. Central to this case’s exploration is the integration of accessibility as a pivotal element into an academic VR campus, i.e. multilearner education platform.

Increasing access to VR has strong social implications in a world where 17% of people report a disability.

This case contributes to the limited research available on increasing access to VR on campuses.

This study examines the test's predictive validity of English language performance and compares test constructs to identify the most effective predictors of English language performance.

Data were collected and analysed from test scores of students enrolled in the foundation year (N = 84) and level 2 (N = 127) in the faculty of English at a Saudi university using correlation and regression tests.

The findings revealed that the General Aptitude Test (GAT) is effective in predicting English performance for students in level 2 and that the error detection task is the most effective predictor of performance in English reading.

The study provides support for the validity of the GAT as a university admission requirement for English language courses in the Arabic-speaking world.

This study examines the GAT's power using a fine-grained approach by deriving scores from its breakdown constructs to predict the performance of English skills at the university level.

This study seeks to enhance productivity, motivation and well-being of workers by improving decision-making processes. Using inner knowledge management (IKM), this study aims to identify, manage and transform unconscious beliefs and negative emotions that limit decision-making processes.

The methodology used is empirical research, analyzing multiple cases qualitatively and using the T-test statistical model to analyze the hypotheses. The study tests the relation between different limiting beliefs and negative emotions that influence decision-making processes.

This study shows that IKM is positively related to the productivity, motivation and well-being of workers.

The study is limited to workers who are mentally healthy, who work in teams and who seek professional help to achieve their goals.

The results indicate that there is a lot of potential to be explored applying IKM in companies and organizations. Specifically, this study proves that there are several inner knowledge assets that constrain the workers’ potential and therefore affect the efficiency of businesses.

The results have strong implications for how companies and organizations can create great value for themselves and their workers.

To the best of the authors’ knowledge, this is the first data-based study using an IKM model. The importance of this study opens the door to further exploration of the effects on IKM on productivity, motivation and the general well-being of workers.

This study explores the influence of the coronavirus disease 2019 (COVID-19) career experience on the investment behavior and risk tolerance of chief executive officers (CEOs). Specifically, this study focuses on CEOs' abilities to allocate financial assets and maintain solvency.

This study adopts a comprehensive approach to analyze financial assets and asset-to-liability ratios. Financial data and individual information of CEOs from listed companies are collected from 2020Q1 to 2021Q4, along with statistics on confirmed COVID-19 cases. Instrumental and alternative variables are used to examine the robustness and endogeneity of the research, ensuring a thorough analysis.

A significant positive correlation is revealed between CEOs' COVID-19 career experience and their capacity to effectively allocate financial assets. However, COVID-19 has a negative effect on firm performance in terms of solvency. These findings contribute to the empirical evidence linking the pandemic to company performance, representing part of the initial research in this area.

The study suggests that the implementation of potential policy implications, such as loose monetary policies and tax and fee reduction measures, may alleviate the tax burden on listed companies.