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This study examines the influence of the ownership structure of banks on investors' behavior by dissecting the investors' response to news regarding performance indicators in private and government-owned banks.

The event study methodology is used for the analysis. The data for 35 banks (out of 38), listed on the National Stock Exchange (NSE) for a duration of 230 months (January 2001 to February 2020) is collected. A set of cross-sectional regression analyses is done to identify variables influencing the returns under differential circumstances.

Private banks seem to display a sharper response to negative changes in earnings, while government-owned banks show a more robust reaction to a positive change. The contrast is seen in the variables, having a bearing on the abnormal returns After controlling for a set of factors, the regression analysis shows the ownership structure may not matter on abnormal returns (on event day), the factors such as a change in quarterly earnings, firm-size and three-year average-sales growth influence the positive and negative changes in abnormal returns of government banks, and predictability for private banks is found to be poor regarding selected indicators.

The study evaluates the role of ownership structure on the heterogeneity in investors' responses to the financial performance of banks, thereby assisting in designing strategies to ensure the optimal outcome around the quarterly earnings announcements.

The purpose of this study was to examine the global perceptions of social equity in the fine dining business model as a result of the surprise announcement for the 2024 planned closure of the Michelin three-star restaurant, Noma.

This study used critical discourse analysis to inductively analyze 91 source documents retrieved through a lexical database search. The analysis yielded five overarching themes and six subthemes.

Findings from this study serve as a benchmark in retrospect for capturing a rapidly accelerating global conversation from January to March 2023 around the long-term viability and social sustainability of the fine dining business model.

Against the backdrop of labor challenges in the restaurant industry due to the Covid-19 pandemic and its aftermath, the announced closure of Noma precipitated criticism of the stage (unpaid intern) system and the intense pressures of attaining and maintaining Michelin star status.

Results from the discourse analysis suggest certification for fine dining restaurants, perhaps through the Michelin Guide, for demonstrating a commitment to social sustainability as a qualifier to achieve a Michelin star.

Findings from this research reveal a palpable change in societal tolerance for a more socially sustainable fine dining restaurant business model that advances equitable solutions for its workers while assuring the economic sustainability of restaurants.

This study drew upon a foodscape lens to reveal a juxtaposition between well-executed environmentally sustainable initiatives in the fine dining business model and the threats to the social sustainability among its workers.

The purpose of this paper is to examine how chief executive officers’ (CEOs) narcissism impacts firm performance and how this, in turn, affects a CEO’s positive rhetorical tone.

The narcissism score is measured by using an analytical composite score for each CEO based on eight factors. The paper uses textual analysis on a sample of 848 CEO letters of US firms over the period 2010–2019. WarpPLS software, version 7.0 was used to conduct structural equation modeling through the partial least squares because a non-linear algorithm exists between CEO narcissism, firm performance and positive tone, and the values of path coefficients moved from non-significant to significant.

The results suggest that performance partially mediates the relationship between CEO narcissism and positive tone. This indicates that not all the positivity expressed by narcissistic CEOs is opportunism; some of it is indeed driven by better performance. The reported findings indicate that firm performance explains one-quarter of a CEO’s positive words, whereas some three-quarters of the positivity is driven by a narcissistic CEO (i.e. opportunism). A comparison of letters signed by highly narcissistic and less narcissistic leaders reveals that among those letters signed by highly narcissistic leaders, firm performance plays a significant mediating role between narcissistic tendencies and positive tone. However, among those with less narcissistic score, there is no evidence that performance mediates the tone and narcissism. Interestingly, both highly narcissistic and less narcissistic CEOs use positive words and optimistic expressions even when their firms perform poorly or negatively.

The results help shareholders be aware that CEOs may opportunistically use their personal characteristics and language to manipulate them. Data limitations about women CEOs were one of the reasons behind the small proportion of women CEOs in this study, making it low in generalizability.

A comprehensive review showed that none of previous studies examined the more ambiguous relationship between a CEO’s narcissist tendency, the firm’s performance, and CEO rhetorical tone. As one set of studies focused on Narcissism → Performance, and the other one on Performance → Tone, this current study completes the picture with Narcissism → Performance → Tone.

The study aims to investigate market reactions associated with the JUST 100 rankings published by JUST Capital, a non-profit organization, as well as differences in financial reporting quality and performance between selected firms and their industry peers.

This study uses a sample of 431 firms selected as the 100 America’s Most Just Companies between 2016 and 2020 by JUST Capital. This study performs both an event study to determine whether the rankings are useful to investors and cross-sectional regression analyses on the characteristics of selected firms compared to their peers.

This study finds that investors react positively to selected firms around the time of the release of the JUST 100 rankings, suggesting that the rankings are decision-useful. This study also finds that selected firms exhibit higher accounting quality and financial performance than their peers.

Rankings may not be free from bias because of JUST Capital’s ownership of an exchange-traded fund.

The findings validate the rankings as well as the methodology used by JUST Capital, as they show market participants value firms that engage in socially responsible actions through their commitment to positively impact five key stakeholder groups: employees, customers, communities, environment and shareholders.

To the best of the authors’ knowledge, this is the first study that shows the importance of the JUST 100 rankings for investment decisions. Considering the growing push for companies to disclose environmental, social and governance (ESG) activities, this study provides evidence to support ESG disclosure regulations.

In 2018, the International Financial Reporting Standard 9-Financial Instruments became mandatory, effectively changing the underlying accounting principles of financial instruments. This paper systematically reviews the academic literature on the implementation effects of IFRS 9, providing a coherent picture of the state of the empirical literature on IFRS 9.

The study thrives on a systematic review approach by analyzing existing academic studies along the following three broad categories: adoption and implementation, impact on financial reporting, and risk management and provisioning. The study concludes by providing research prospects to fill the identified gaps.

We document data-related issues, forecasting uncertainties and the interaction of IFRS 9 with other regulatory standards as implementation challenges encountered. Also, we observe cross-country heterogeneity in reporting quality. Furthermore, contrary to pre-implementation expectations, we find improvement in risk management. This suggests that despite the complexities of the new regulatory standard on financial instruments, it appears to be more successful in achieving the intended objective of enhancing better market discipline and transparency rather than being a regulatory overreach.

As the literature on IFRS 9 is burgeoning, we provide state-of-the-art guidance and direction for researchers with a keen interest in the economic significance and implications of IFRS 9 adoption. The study identifies gaps in the literature that require further research, specifically, IFRS 9 adoption and firm’s hedging activities, IFRS 9 implications on non-financial firms. Lastly, existing studies are mostly focused on Europe and underscore the need for more research in under-researched jurisdictions, particularly in Asia and Africa. Also, to standard setters, policymakers and practitioners, we provide some insight to aid the formulation and application of standards.

This paper aims to examine the relationship between environmental, social and governance (ESG) performance and systemic risk sensitivity of Chinese listed companies. From the consumer loyalty and investor structure perspectives, the relationship between ESG performance and systemic risk sensitivity is analyzed.

Since Morgan Stanley Capital International (MSCI) ESG officially began to analyze and track China A-shares from 2018, 275 listed companies in the SynTao Green ESG testing list for 2015–2021 are selected as the initial model. To measure the systematic risk sensitivity, this study uses the beta coefficient, from capital asset pricing model (CPAM), employing statistics and data (STATA) software.

The study reveals that high ESG rating companies have high corresponding consumer loyalty and healthy trading structure of institutional investors, thereby the systemic risk sensitivity is lower. This paper reveals that companies with high ESG rating are significantly less sensitive to systemic risk than those with low ESG rating. At the same time, ESG has a weaker impact on the systemic risk of high-cap companies than low-cap companies.

The study helps the companies understand the influence of market value on the relationship between ESG performance and systemic risk sensitivity. Moreover, this paper explains explicitly why ESG performance insulates a firm’s stock from market downturns with the lens of consumer loyalty theory and investor structure theory.

The paper provides new insights on the company’s ESG performance that significantly affects the company’s systemic risk sensitivity.

This paper aims to explore consumer perceptions of product design awards (PDAs) and their impact on consumer product evaluation and attitude formation about the award-winning product, the award-winning organization and the award-granting organization.

Based on the grounded theory approach, an exploratory qualitative study is conducted, using 16 semi-structured in-depth interviews with Turkish consumers through discussions on real-world examples.

Results show that consumers develop emotional responses to PDAs (e.g. interest, curiosity and confusion), hypothesize reasons for products receiving awards and cite rewards as confirmation of their existing judgments about products. PDAs are perceived as extrinsic cues signaling quality and price, and their impact is increased when consumers feel that the award is based on functional feature superiority. Consumer responses to PDAs are also influenced by the perceived expertise of the award-granting organization and beliefs about the award-granting process. Finally, PDAs can lead to positive brand-perception outcomes, influencing consumer perceptions of the product company as resourceful, competent and prominent.

This study shows that it is critical for companies to inform consumers about the specific features that resulted in a given product receiving a design award, as well as to provide information about the PDA itself.

To the best of the authors’ knowledge, this study is the first attempt to explore consumer perceptions of and reactions to PDAs, with significant implications for both the marketing managers of PDA-winning products and award-granting organizations.

The study investigates how firm-level governance (FL_G) affects the disclosure of voluntary risk information. Likewise, it explores the influence of FL_G on the informativeness of voluntary risk disclosure (VRD). Specifically, it examines how FL_G shapes the nexus between VRD and firm value.

It uses a sample of non-financial firms from the FTSE350 index listed on the London Stock Exchange between 2010 and 2018. The authors utilise an automated textual analysis technique to code the VRD in the annual reports of these firms. The firm value, adjusted for the industry median, is a proxy for investor response to VRD.

The results suggest that UK firms with significant board independence and larger audit committees disclose more risk information voluntarily. Nevertheless, firms with larger boards of directors and higher managerial ownership disseminate less voluntary risk information. Besides, VRD contains relevant information that enhances investors' valuation of UK firms. These results are more pronounced in firms with higher independent directors, lower managerial ownership and large audit committees.

The study rationalises the ongoing debate on the effect of FL_G on VRD. The findings are helpful to UK policy-setters in reconsidering the guidelines that regulate UK VRD and to the UK investors in considering risk disclosure in their price decisions and thus enhancing their corporate valuations.

It contributes to the risk reporting literature in the UK by presenting the first evidence on the effect of a comprehensive set of FL_G on VRD. Besides, it enriches the existing research by shedding light on the role of FL_G on the informativeness of discretionary risk information in the UK.

In a dynamic, continuously evolving sports landscape, social media have become an indispensable tool for sports organizations to cultivate meaningful connections with fans. The rapid pace of technological advancements has elevated these digital platforms from a supplementary role to a pivotal position within strategic management frameworks. The existing literature explores how football clubs can utilize social media, but analyzing social media strategies within the context of football leagues is lacking. The absence of comparative studies benchmarking clubs across different geographical regions while simultaneously analyzing multiple social media platforms is especially noteworthy. In this study, a comprehensive analysis of social media engagement is undertaken within esteemed football leagues spanning Europe, South America and North America.

Drawing on relationship marketing and employing content analysis as a methodological tool, the study examined 10,772 posts from the official accounts of eight football leagues on Facebook, Twitter and Instagram.

Across the leagues, the findings reveal that content quality drives engagement more than frequency. In addition, several format combinations were identified that facilitate engagement and Instagram emerged as the top social media platform for generating fan engagement.

This is one of the first empirical studies focusing on optimizing the use of social media to amplify fan engagement across various geographies and social media accounts and formats simultaneously.

This paper aims to analyze what Samarco and Brazilian magazines speak and say about Mariana’s environmental crime. Discover their doxa in this subject. Interpret the speakings, sayings and doxas through the theories of the treadmills of production, crime and law.

It is a qualitative and documental research and a narrative analysis. Regarding the documents: 45 were from public authorities, 14 from Samarco Mineração S.A. and 73 from Brazilian magazines. Theoretically, the authors resorted to Bourdieusian sociology (speaking, saying and doxa) and the treadmills of production, crime and law theories.

Samarco: speaking – mission statements; saying – detailed information and economic and financial concerns; doxa – assistance discourse. Brazilian magazines: speaking – external agents; saying – agreements; doxa – attribution, aggravations, historical facts, impacts and protests.

The absence of discussions that addressed this fatality, with its respective consequences, from an agenda that exposed and denounced how it exacerbated race, class and gender inequalities.

Regarding Mariana’s environmental crime: Samarco Mineração S.A. speaks and says through the treadmill of production theory and supports its doxa through the treadmill of crime theory, and Brazilian magazines speak and say through the treadmill of law theory and support their doxa through the treadmill of crime theory.

To provoke reflections on the relationship between the mining companies and the communities where they settle to develop their productive activities.

Concerning environmental crime in perspective, submit it to a theoretical interpretation based on sociological references, approach it in a debate linked to environmental criminology, and describe it through narratives exposed by the guilty company and by Brazilian magazines with high circulation.