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The purpose of this paper is to investigate the value relevance of Research and development (R&D) and free cash flow (FCF) in an efficient investment setup. Most importantly, this paper examines whether the value relevance of R&D and FCF is associated with life cycle stages. Furthermore, this paper reports whether the market response to R&D and FCF is different in competitive market as compared to the concentrated market.

The analysis is based on the Ohlson (1995) model for the determination of value relevance of earnings and book value. Capitalized R&D and FCF data comprising of the Chinese A-listed firms from the year 2008 to 2016 are selected for this study. Following Anthony and Ramesh (1992), the authors divided the firm life cycle into different stages. HHI index is used to measure the product market competition.

The main result shows that R&D and FCF are value relevant in Chinese A-listed firms. The impact of R&D and FCF on the value relevance of earnings and book value is also positive and significant. The findings of the effect of R&D and FCF on the value relevance of accounting information signify that the information content (R²=0.46) of the mature stage is higher than that of the growth and stagnant stage. The explanatory power measured by R² value for competitive industries (0.47) is much higher than the concentrated industries (0.33).

Despite taking into account all the possible available variables, there are few limitations of the study. This study only studies the effect of EPS, BPS, R&D and FCF on the value relevance of accounting information. Other determinant such as size, growth, leverage and firm age is ignored. Since the R&D expenditure is discretionary, therefore the findings cannot be generalized to all the sectors. A sector wise comparative study can be done in future, to understand the differences in the information contents of R&D and FCF. Also, the tax effect of R&D is ignored in this study. For future call, the value relevance of tax effect on R&D can be explored.

The investors can now determine the present value of all the future cash flows of investing activities. The results of the study are significant for the Chinese investors who should incorporate the R&D and FCF along with investment efficiency. The investors should keep in mind the life cycle stage while investing in a certain stock. The competitive markets have more information content than the concentrated markets. The corporate managers can benefit from this study while issuing new shares. The market responds positively to the stock having investment efficient R&D and FCF investment. For the policy implication perspective, the security market regulator should devise the effective pro-effective product market regulations.

The contribution of this study is manifold. First, according to the authors’ knowledge, this is the first study that incorporates investment efficiency with R&D and FCF and explores its effect on the value relevance of accounting information. Second, the impact of R&D on the value relevance is studied by numerous researchers (Lev and Sougiannis, 1996; Han and Manry, 2004). Similarly, FCF-agency cost effect has also been investigated by (Rahman and Mohd-Saleh, 2008; Chen et al., 2012) but the value relevance of R&D and FCF during different life cycle stages still needs to be answered. Finally, this study also tries to answers the question if the market response to R&D and FCF is different in a competitive market as compared to the concentrated market.

Work-life flexibility policies (e.g., flextime, telework, part-time, right-to-disconnect, and leaves) are increasingly important to employers as productivity and well-being strategies. However, policies have not lived up to their potential. In this chapter, the authors argue for increased research attention to implementation and work-life intersectionality considerations influencing effectiveness. Drawing on a typology that conceptualizes flexibility policies as offering employees control across five dimensions of the work role boundary (temporal, spatial, size, permeability, and continuity), the authors develop a model identifying the multilevel moderators and mechanisms of boundary control shaping relationships between using flexibility and work and home performance. Next, the authors review this model with an intersectional lens. The authors direct scholars’ attention to growing workforce diversity and increased variation in flexibility policy experiences, particularly for individuals with higher work-life intersectionality, which is defined as having multiple intersecting identities (e.g., gender, caregiving, and race), that are stigmatized, and link to having less access to and/or benefits from societal resources to support managing the work-life interface in a social context. Such an intersectional focus would address the important need to shift work-life and flexibility research from variable to person-centered approaches. The authors identify six research considerations on work-life intersectionality in order to illuminate how traditionally assumed work-life relationships need to be revisited to address growing variation in: access, needs, and preferences for work-life flexibility; work and nonwork experiences; and benefits from using flexibility policies. The authors hope that this chapter will spur a conversation on how the work-life interface and flexibility policy processes and outcomes may increasingly differ for individuals with higher work-life intersectionality compared to those with lower work-life intersectionality in the context of organizational and social systems that may perpetuate growing work-life and job inequality.

This study considered the use of video conferencing virtual backgrounds with employees located in a large multinational corporate organisation in Ireland and the USA to discern if background images evoking gendered stereotypes of leadership can cue stereotype threat in female technology workers undertaking a leadership activity, thus negatively effecting performance. This study aims to contribute to the body of research on stereotype threat by establishing whether virtual backgrounds used in video conferencing software are inherently identity safe or whether their use could have a negative performance impact on marginalised groups.

Using a mixed methods research design with 22 participants in two countries working in the one large organisation, using two quantitative methods (an experiment and a survey) and one qualitative method (semi-structured interviews), the study examined the relationship between performance on the leadership activity and exposure to gendered backgrounds on a video conference call.

It found that female leaders undertaking a leadership test experienced more anxiety and achieved lower scores on average when exposed to a male-gendered virtual background compared to male colleagues or female leaders exposed to a female gendered background. It was also found that these leaders were aware of the stereotype of leadership being White and male, and showed symptoms of prolonged exposure to stereotype threat in the workplace. While the authors still are working through a post-pandemic environment, it may be judicious for organisations to restrict the use of virtual backgrounds to identity-safe ones, specifically chosen by the company.

The study makes several practical recommendations, indicating actions which can be taken at the individual, team and corporate levels. Re-running this experiment in a more controlled environment with a larger sample set could yield more definitive, statistically significant results and contribute more to the literature.

Some individual impacts were found via the interviews. Male leaders in the organisation need to do more to mentor and endorse their female colleagues. By doing this, they can counter the negative effects of solo status and the subsequent performance degradations of their female counterparts, while also setting an example for other leaders. Participation in the mentoring programme and initiatives such as Dare and value, inclusion, belonging, and equity should be encouraged and supported. Reverse mentoring should also be encouraged among the population of male leaders to aid in allyship and bias-awareness.

Teams should note that a democratic vote is not always the best way to decide on the names of teams, projects or meeting rooms. These may skew towards niche interests that can serve to alienate members of the team who do not associate themselves with that interest. Rather, the teams should strive to be fully inclusive and educated on the need for identity-safety. Team events may also serve to alienate members if teams are not mindful of the need to be inclusive. Activities, such as “go-kart” racing and physical or competitive team events have been highlighted as unsuitable for some team members, and should be avoided in favour of inclusivity.

A significant body of research has documented the effect to which stereotype threat can be triggered by both the physical environment and by the use of various technology media. However, there is a dearth of research exploring the relationship between stereotype threat, defined as “the concrete, real-time threat of being judged and treated poorly in settings where a negative stereotype about one’s group applies” (Steele et al., 2002, p. 385), and video conferencing software features, such as virtual backgrounds.

The purpose of this paper is to share the learning concerning how services and the paid carers working in them can support people living with dementia (PLWD) and their unpaid carers to overcome social isolation. This learning comes from the key findings from a Social Return on Investment (SROI) evaluation of a Shared Lives (SL) Day support service, known as TRIO.

SROI is a form of cost-benefit analysis that captures and monetises stakeholder outcomes. The SROI evaluation included a rapid evidence review, an interview study and a questionnaire study. The learning shared is drawn from the interview and questionnaire data that explored the reported outcomes relating to social connection, which included data related to participating in meaningful activities, confidence and independence.

PLWD who accessed the SL Day support service experienced better social connection, a sense of control over their activities (including their social activities) and community presence. A key foundation of these outcomes was the meaningful relationship that developed between the PLWD, their unpaid carer and the paid carer.

This evaluation was a pilot study with a small, albeit representative sample size.

The learning suggests feasible and effective ways for paid carers to support the social connection of PLWD and their unpaid carers with their wider community.

There has been little exploration of how community-based short breaks (like SL Day support) can enhance social connection. The authors drew on a social relational model lens to illustrate how this service type had supported successful outcomes of community and social inclusion for PLWD.

This paper is motivated by the need to assess the risk profiles associated with the substantial number of items within military supply chains. The scale of supply chain management processes creates difficulties in both the complexity of the analysis and in performing risk assessments that are based on the manual (human analyst) assessment methods. Thus, analysts require methods that can be automated and that can incorporate on-going operational data on a regular basis.

The approach taken to address the identification of supply chain risk within an operational setting is based on aspects of multiobjective decision analysis (MODA). The approach constructs a risk and importance index for supply chain elements based on operational data. These indices are commensurate in value, leading to interpretable measures for decision-making.

Risk and importance indices were developed for the analysis of items within an example supply chain. Using the data on items, individual MODA models were formed and demonstrated using a prototype tool.

To better prepare risk mitigation strategies, analysts require the ability to identify potential sources of risk, especially in times of disruption such as natural disasters.

The market-based monetary policy framework has been favoured by Economic Community of West African States (ECOWAS) economies. Hence, this study aims to investigate the effect of monetary policy channels on the sectoral value added and sustainable economic growth in ECOWAS. Data from the World Bank and International Monetary Fund over 2013–2019 were sourced for thirteen member countries. ECOWAS is found to have very high inflation level, interest and exchange rates.

The study adopted the Driscoll–Kraay fixed-effects ordinary least squares regression (OLS) estimator.

The findings revealed that while the effect of monetary policy channels on the agricultural sector value added is largely heterogenous and significantly in-elastic, the one on the industrial and services sectors are overwhelmingly homogeneous and negative, but insignificant for the services sector. Moreover, the effect of monetary policy channels on sustainable economic growth is also homogeneously asymmetric, with imminent stagflation, while the interactive effects of monetary policy channels are heterogeneous on sustainable economic growth and economic sectors. Therefore, an inflation targeting monetary policy stance is generally recommended with prioritised exchange rate stabilisation amid sufficient fiscal space.

This is amongst the first studies to investigate monetary policy channels, sectoral outputs and sustainable growth in the ECOWAS region with a rigorous analysis and found implications for policy.

This paper is a corpus-driven study of written electronic texts, particularly the “About Us” sections in the university websites of 41 members of the Asian Association of Open Universities (AAOU). This inquiry is important because it will provide an insight as to how AAOU members describe and portray themselves in the World Wide Web, a platform which is highly utilized in the field of distance education. This will also lead to the understanding of conventional knowledge among AAOU members during the period of study. The paper aims to discuss these issues.

Guided by Swales’ (1990) seminal work on genre analysis, the researchers conducted a three-part genre analysis which involved identification and analysis of moves, keywords, and concordance lines.

Results of the keyword analysis were conducted using the AntConc application. Anthony (2017) found that the top 100 keywords with positive keyness exemplified inherent characteristics of open and distance learning institutions as well as characteristics common to higher education institutions and their thrusts. The analysis also found that the use of adjectives and verbs with positive denotations is common in the “About Us” sections. Concordance for several keywords related to the overarching theme of the AAOU 2017 Conference then revealed that the AAOU members are active in the discourse about accessibility, assessment, and quality, while there is not much discourse on openness, inclusivity, and justice. Meanwhile, subscribing to equality and equity could still be a point of discussion among the AAOU members as the concordance analysis revealed more discourse on equality than equity as a goal and principle. Overall, results of the genre analysis resonated with previous studies of the academic genre as the “About Us” sections are promotional in both authoritarian and inclusive ways.

The inquiry will provide the members of the AAOU with an overview of their common communicative purposes, overused or underused keywords, and their usage of these words which they may opt to work on in the future.

With the recognition that generating economic growth is not the same as sustaining it, the challenge to catch-up and growth literature is discerning between these processes. Recent research suggests that the decline in the frequency of “shrinking” episodes is more important for long-term development than higher growth rates. By using a framework centred around social capabilities, this study aims to investigate the effects of income inequality and poverty on economic shrinking frequency, as opposed to previous literature that has exclusively had a growth focus. The aim is to investigate how and why some societies might be more resilient to economic shrinking.

The research is a quantitative study, and the authors build a longitudinal data set including 23 developing countries throughout 42 years to test the paper’s purpose. This study uses country and period fixed-effects specifications as well as cross-sectional graphical representations to investigate the relationship between proxies of economic inclusivity and the frequency of shrinking episodes.

The authors demonstrate that while inclusive societies are more resilient to shrinking overall, it is changes in poverty levels, but not changes in income inequality, that appear to be correlated with economic shrinking frequency. Inequality, while still an important element to explain countries’ growth potential as an initial condition, does not seem to make the sample more resilient to shrinking. The authors conclude that the mechanisms in which poverty and inequality are correlated with the catch-up process must run through different channels. Ultimately, processes that explain growth may intersect but not always overlap with the ones that explain resilience to shrinking.

The need for inclusive growth in long-term development has been championed for decades, yet inclusion has seldom been explored from the shrinking perspective. Though poverty reduction is already an important mainstream political objective, this paper differentiates itself by providing an alternate viewpoint of why this is important. Income inequality could have more of an economic growth limiting effect, while poverty reduction could be required to build resilience to economic shrinking. Developing countries will need both growth and resilience to shrinking, to catch-up with higher-income economies, which policymakers might need to balance carefully.

The novel coronavirus (COVID-19) has completely changed the landscape of the hospitality industry. The World Health Organization does not officially recommend wearing face masks in the workplace. Wearing face masks is controversial worldwide, however it has been widely adopted in Hong Kong society. Hospitality practitioners have worn face masks to work and serve customers for almost a year long, matching the duration of the COVID-19 pandemic. This paper proposes a conceptual model of face mask effects and also discusses and evaluates the effects of wearing face masks during the pandemic.

A convenience sampling method is employed to investigate hospitality operators using in-depth and focus group interviews with managers, front-line staff and customers.

The perspectives of both hospitality practitioners and customers are included in this study. The concepts of (1) invisible care, (2) sense of safety and (3) service trust have been introduced in this study. These provide valuable insights for the service industry when facing a large-scale health crisis, now and in the future.

This paper analyzes interview data collected from 35 respondents – 14 managers, 6 practitioners and 15 customers – in order to understand the critical effects of wearing face masks during the pandemic and the perspectives of both hospitality practitioners and customers.

For the hospitality industry, wearing face mask in service has already become a “new normal”, face mask effects might create an impact on service design, service delivery and service quality.

The findings show that wearing face masks turns hygiene and safety into a form of invisible care in the Asian hospitality industry. Practitioners' perspective regarding the necessity of a smile is less important to Asian customers, showing a discrepancy between the two parties. Customers do not believe that service quality has dropped due to the wearing of masks, but that the level of hygiene has risen. Unlike customers, practitioners are more concerned about not providing good quality service. However, the interview data show that respondents generally agree that mask wearing is a gesture and symbol for the hospitality industry to make tangible a new form of caring, professionalism, safety concern and communication.

Digital technologies, and the affordances they provide, can shape institutional processes in significant ways. In the last decade, social media and other digital platforms have redefined civic engagement by enabling new ways of connecting, collaborating, and mobilizing. In this article, we examine how technological affordances can both enable and hinder institutional processes through visibilization – which we define as the enactment of technological features to foreground and give voice to particular perspectives and discourses while silencing others. We study such dynamics by examining #SchauHin, an activist campaign initiated in Germany to shine a spotlight on experiences of daily racism. Our findings show how actors and counter-actors differentially leveraged the technological features of two digital platforms to shape the campaign. Our study has implications for understanding the role of digital technologies in institutional processes as well as the interplay between affordances and visibility in efforts to deinstitutionalize discriminatory practices and institutions.