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The global financial crisis (GFC) of 2007–2008 had far-reaching consequences for the global economy, triggering widespread economic turmoil. We use the event-study method to investigate whether investors priced the effect of significant events before the Lehman Brothers' bankruptcy in European and Asia-Pacific banks. Abnormal returns on the event days range from −4.32% to 5.03% in Europe and −5.13% to 6.57% in Asia-Pacific countries. When Lehman Brothers went bankrupt on September 15, 2008, abnormal returns averaged the lowest at −4.32% in Europe and −5.13% in Asia-Pacific countries. The significant abnormal returns show that Lehman Brothers' collapse was a turning point, and investors paid attention to the precrisis events as warning signs of the oncoming crisis.

This study aimed to examine the efficient market hypothesis (EMH) for the stock markets of 12 member countries of the Organization of Islamic Cooperation (OIC), such as Egypt, Indonesia, Jordan, Kuwait, Malaysia, Morocco, Pakistan, Saudi Arabia, Tunisia, Turkey and the United Arab Emirates (UAE), during the global financial crisis (GFC) and the COVID-19 (CV-19) epidemic. The objective was to classify the effects on individual indices.

The study employed the multifractal detrended fluctuation analysis (MF-DFA) on daily returns. After calculation and analysis, the data were then divided into two significant events: the GFC and the CV-19 pandemic. Additionally, the market deficiency measure (MDM) was utilized to assess and rank market efficiency.

The findings indicate that the average returns series exhibited persistent and non-persistent patterns during the GFC and the CV-19 pandemic, respectively. The study employed MF-DFA to analyze the sequence of normal returns. The results suggest that the average returns series displayed persistent and non-persistent patterns during the GFC and the CV-19 pandemic, respectively. Furthermore, all markets demonstrated efficiency during the two crisis periods, with Turkey and Tunisia exhibiting the highest and deepest levels of efficiency, respectively. The multifractal properties were influenced by long-range correlations and fat-tailed distributions, with the latter being the primary contributor. Moreover, the impact of the fat-tailed distribution on multifractality was found to be more pronounced for indices with lower market efficiency. In conclusion, this study categorizes indices with low market efficiency during both crisis periods, which subsequently affect the distribution of assets among shareholders in the stock markets of OIC member countries.

Multifractal patterns, especially the long memory property observed in stock markets, can assist investors in formulating profitable investment strategies. Additionally, this study will contribute to a better understanding of market trends during similar events should they occur in the future.

This research marks the initial effort to assess the impact of the GFC and the CV19 pandemic on the efficiency of stock markets in OIC countries. This undertaking is of paramount importance due to the potential destabilizing and harmful effects of these events on global financial markets and societal well-being. Furthermore, to the best of the authors’ knowledge, this study represents the first investigation utilizing the MFDFA method to analyze the primary stock markets of OIC countries, encompassing both the GFC and CV19 crises.

This study aims at exploring the nexus between herding behavior and the spillover effect in G7 and BRICS stock markets.

The authors used the dynamic connectedness approach TVP-VAR model of Antonakakis et al. (2019) to capture the spillovers across different markets. Moreover, to explore herding behavior, the authors used a modified version of the CSAD measure of Chang et al. (2000) including extreme market movements. Finally, to study the link between these two phenomena, the authors estimated a DCC-GARCH model.

The results show that herding behavior exists in the American market and some BRICS markets. Furthermore, spillover between G7 and BRICS increases in times of crisis. Moreover, the authors find a dynamic conditional correlation between herding behavior and spillovers both in the short and long run. The authors conclude that in times of crisis, the transmission of shocks between markets is more frequent, fuelling uncertainty and pushing investors to suppress their own beliefs and follow the general market trends.

This paper uses the TVP-VAR model to explore the spillover effect and the DCC-GARCH model to explore the connectedness between herding behavior and the spillover effect in G7 and BRICS countries in both the short and long run.

Nested within institutional theory and the political economy perspective, this study aims to examine Chinese outward foreign direct investments (OFDI)-supporting organizations and fostering mechanisms for its SMEs in Europe’s largest economy, Germany.

The authors conduct a multiple-case study to present rich insights from elite interviews with representatives of Chinese and German governmental organizations, intermediary parties and specialized OFDI consultants. In addition, the authors analyze secondary data such as presentations, websites, brochures, social media and recent Chinese OFDI policies for SMEs. The findings are triangulated by interviewing business owners and senior executives of seven Chinese SMEs that have invested in Germany.

Cooperating with Germany’s federal government, China’s ministries implemented an effective OFDI support network in Germany, which connects and benefits both economies. This includes Chinese governmental organizations, privately-held national champions, German–Chinese business associations and linked intermediary parties. These organizations support SMEs through four main mechanisms: networking and information, mutually beneficial knowledge transfer between innovation partners, lobbying for potential cooperation and an objective picture of Chinese OFDI and facilitating investment services.

This study advances OFDI theory and contributes to the growing discussion on the internationalization of Chinese SMEs by shedding light on China’s OFDI support organizations and mechanisms in the German market. The study also offers practical contributions. Understanding better how governments can spur internationalization is vital, as it determines the effectiveness of policymaking and fosters international mutual understanding, cultural exchange and firm growth and innovation (Ahlstrom, 2010), and hence ultimately contributes positively to society. Moreover, knowing the specific OFDI support organizations and measures China is currently adopting can serve as a helpful orientation for Chinese entrepreneurs who plan to invest in Germany.

To examine the effects of the metaverse on firms’ marketing activities.

A conceptual paper.

It provides evidence of the growing importance of different value capture mechanisms in the metaverse.

Among the first articles on this topic.

This study aims to identify different consumer segments to address the strategies that can be adopted by companies and policymakers to increase the consumption of safer foods and reduce the negative externalities caused by pesticides. More than 3,000 consumers were involved in the survey, of which more than 1,000 completed in all parts.

The complexity of the topic required a multidimensional approach. Therefore, the authors modelled the decision support system by proposing a decision rule-based approach to analyse consumers' food purchasing choices. More precisely, the authors referred to the dominance-based rough set approach (DRSA).

Based on the DRSA results, three consumer segments were identified: green consumers, integrated pest management (IPM)-informed and active consumers, and potential low-pesticide consumers for which different policy implications have been highlighted.

Despite the high number of survey respondents, further research should seek to obtain data from a more balanced sample. Furthermore, different methods of analysis could be applied and the results compared.

Identification and promotion of managerial and public policies to increase the consumption of low pesticide food.

The main social implications can be summarised in the greater knowledge and awareness of the environmental aspects related to food, recognition of the intrinsic quality and/or functionality of food.

The authors contribute to the literature in two ways. First, the authors refer to the DRSA, an innovative approach in the context of consumer analysis. Second, based on the decision rules, the authors identify three consumer segments to which specific tools can be addressed.

This paper examines the influence of financial leverage on the financial sustainability of microfinance institutions (MFIs) and the moderating role of the percentage of female borrowers (PFB).

The study uses a global sample of 646 MFIs drawn from the World Bank Mix Market and panel data for 2010–2018. The study employs ordinary least squares (OLS) and the one-step system generalized method of moments (SGMM) as regression estimation methods.

The findings of this study reveal that financial leverage and the PFB have a negative and significant effect on financial sustainability. The findings further show that the interaction between financial leverage and the PFB positively affects the financial sustainability of MFIs.

The findings inform MFIs' managers on the adverse effect of financial leverage and the PFB in their quest for financial sustainability. The findings also demonstrate that MFIs can leverage female borrowers to reverse the adverse effect of financial leverage on financial sustainability of MFIs.

Previous studies examined the direct effect of financial leverage and reported incongruent results. Because female borrowers are at the epicenter of MFI lending, this study fills the gap in the literature by examining whether the proportion of female borrowers moderates the relationship between financial leverage and MFIs' financial sustainability using a global dataset.

This paper aims to investigate the primary motivations for China’s outward foreign direct investment (ODI) decisions.

Using a panel data sample covering the period 2003–2012 and a comprehensive set of 176 host countries.

This study finds that market size, trade variables and natural resource variables are strongly related to the Chinese ODI stocks. This indicates that Chinese ODI decisions are driven by both market- and resource-seeking motives. The subperiod sample test results lend even stronger support to the market-seeking motive for ODI.

These results seem to emerge from the policy changes that were undertaken during the sample period. Consistent with subgroup tests, this study finds that the main purposes of China’s ODI in the top 100 countries are natural resource explorations and production line replacements.

This paper aims to aims to extend emotional labor research by exploring whether the impact of emotional labor on customer satisfaction depends on the order in which different emotional labor strategies are used by employees. Specifically, the authors explore how the order effects of two emotional labor strategies – deep and surface acting – impact customer satisfaction.

The authors conducted two experimental studies in which participants interacted with service employees who systematically switched between surface and deep acting strategies during the service episode. In Study 1, participants watched a video clip depicting a service encounter in a bookstore. In Study 2, participants partook in a simulated career-counseling session.

The four different emotional labor strategy order effects differentially impact customer satisfaction. Consistent with theories of gain–loss effects, improvement and decline trends positively or negatively impact customers, respectively. Furthermore, results show that these trends impact customer satisfaction growth differently over time.

The authors only focused on two emotional labor strategies, and future research may benefit from extending the research to additional regulation strategies and/or specific discrete emotions.

The results suggest that managers may train employees in recognizing that customer satisfaction is not just driven by customers’ overall assessment of the interaction but also by their experience at different stages of the interaction.

Service marketing and management scholars have largely explored emotional labor from a between-person or within-person perspective, with little empirical attention paid to within-episode processes that focus on how employee behavior varies within a single service episode. To the best of the authors’ knowledge, this study is one of the first to demonstrate that surface and deep acting can be used simultaneously and dynamically over the course of a single service interaction in impacting customer satisfaction.

The strict lockdown during COVID-19 has suspended construction, procurement and logistics in construction industry and affected the entire Supply Chain Management (SCM). The COVID-19 has been universally observed in all sectors, but a limited study has been done in construction industry and also the ways to mitigate it. Hence, the current study aims to identify the impact of COVID-19 in Construction Supply Chain (CSC) and to analyse the influence of factors on Supply Chain (SC) performance during uncertainty in the construction industry.

From previous studies, the factors enhancing the SCM performance are taken. The research follows a qualitative in-depth interview to identify the factors and quantitative study to collect data using a questionnaire. Samples for the study were chosen using purposing sampling techniques. The collected data were analysed using “Statistical Package for Social Science” (SPSS V 20).

Effect of COVID-19 is more on medium sized builders and developers. A positive impact is found between SC agility, SC resilience and information technology (IT) capabilities on SC performance.

Firstly, the study adopted cross-sectional data to test the hypothesis. The study results on the combined effect of the factors SC agility, SC resilience and IT capability during uncertainty were found to have a positive influence. The longitudinal study would enrich the understanding of the research. Secondly, the study was focussed on the perspective of the dynamic capability view. Further studies can adopt a multi-method approach to develop a theoretical framework using in-depth study and empirical validation. It will help in a better understanding of the current situation and young discipline in SC. Thirdly, the study has considered only Kerala construction companies; hence, the data were less. More data with better results will be obtained if the study has included construction companies from other states. Fourthly, the study can be extended to understand the interdependent effects of SC agility, SC resilience and information technology capability on performance. Presently, the interdependent effect in the study is limited.

The study helps the construction professionals to understand the preventive measures needed for the industry during any uncertainty. Also, the study is expected to help the construction managers and leaders with better performance in SCM and other business activities by adopting IT connectivity and being agile in all situations. Moreover, the study also helps policymakers take active solutions by providing awareness and incentives to the construction industry professionals. The literature and the factors will also help the academicians in further research progress.

The research is important for construction professionals to comprehend the impact of COVID-19 and to analyse the influence of factors such as SC agility, SC resilience and IT capabilities on improving the SC performance. This research can assist private and public construction firms to enhance SC performance during times of uncertainty. The result is likely to help construction companies with better SC performance and helps academicians' further progress in research.