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The authors measure the cost of equity to earnings yield differential for a sample of 2,035 non-financial firms. In a series of Logit and Tobit regressions, the authors examine if the cost of equity to earnings yield differential is related to dividend policy in the manner predicted by agency theory.

Agency theory says a firm's optimal dividend policy is partially determined by the relationship between the earnings yield and the cost of equity capital. When the cost of equity is higher (lower) than the earnings yield, firms are motivated to (not) pay dividends as this reduces the cost of capital and holding other things constant, increases corporate valuations. The authors test whether managers set dividend policies to maximize the value of the firm.

The study’s findings show that when the cost of equity is higher (lower) than earnings yield, firms are more (less) likely to be dividend payers and the payouts are higher (lower). The results are robust to the inclusion of share repurchases as an alternative to cash distributions. The study’s findings support the cost of equity hypothesis and are consistent with alternative dividend theories.

The study’s findings support the cost of equity hypothesis and are consistent with alternative dividend theories. To the authors’ knowledge, this is the first paper testing the cost of equity hypothesis.

The aim of this paper is to assess whether the current European target to increase the areas under organic farming to 25% by 2030 is attainable and whether the simple increase in areas under organic farming may be sufficient to improve the sustainability of European agriculture.

The analysis has been carried out through a simple data processing related to areas under organic farming, for the period 2012–2020 (Eurostat database), in order to highlight the trends of areas under organic farming and to verify whether the annual average change rates may be compatible with the stated target.

The analysis showed that organic farming has a productive weight not corresponding to the amount on the total of the areas under cultivation and a small impact on the total of food consumption. It is a plausible hypothesis, the one that shows the increase in areas under organic farming will engage forms of agriculture and farms that, already, are more sustainable, so the achievement of 25% target will not particularly impact the European potential productive and the less environmental sustainable forms of agriculture.

This paper contributes to the debate, involving scientific community, policy maker and civil society, about the real contribution of organic farming to sustainability, and it will be developed in future research.

The aim of the present study is to shed light on the role of legal practitioners, namely, lawyers and notaries, in the fight against money laundering: Are they considered as facilitators or obstacles against money laundering? How does the global and the EU legal framework deal with the legal professionals?

The research follows a deductive approach attempting to respond to questions such as: How do the lawyers’ and notaries’ societies react in front of the anti-money laundering measures that concern them and why? What are the discrepancies between the lawyers’ professional secrecy and the obligations that EU anti-money laundering legislation assigns them?

This study disclosures the response of the European union and international legal and regulatory framework as well as the reflexes of the international and European legal professionals’ associations to this danger. It also demonstrates the reaction of lawyers against European union anti-money laundering legislation, to the point that it limits not only the confidentiality principle but also the position of the European judicial systems to the contradiction between this principle and the lawyers’ obligation to report their suspicions to the authorities.

To fulfil the study goals, it was necessary to overcome some obstacles, like the limitation of existing sources. Indeed, transnational empirical research considering the professionals who facilitate money laundering is narrow. Besides, policymakers and academics only recently expressed more interest in money laundering and its facilitators.

This paper fulfils an identified need to study the legal professionals’ role not only in money laundering practices but also in anti-money laundering policies.

There is growing interest around the world in more effectively linking public payments to the provision of public goods from agriculture. However, published evidence syntheses suggest mixed, weak or uncertain evidence for many agri-environment scheme options. To inform any future “public money for public goods” based policy, further synthesis work is needed to assess the evidence-base for the full range of interventions currently funded under agri-environment schemes. Further empirical research and trials should then focus on interventions for which there is mixed or limited evidence. Furthermore, to ensure the data collected is comparable and can be synthesised effectively, it is necessary to reach agreement on essential variables and methods that can be prioritised by those conducting research and monitoring. Future policy could then prioritise public money for the public goods that can most reliably be delivered, offering better value for taxpayers and improving the provision of ecosystem services from agricultural landscapes.

This study aims to examine the degree to which a selection of home country factors affects the proclivity of firms to internationalise. The study also proposes and tests a conceptual model that fuses institutional and resource-based theories to improve our understanding of firm internationalisation.

The study uses cross-sectional, national-level secondary data from the 2018 Global Entrepreneurship Development Institute and World Economic Forum data sets on global entrepreneurship and competitiveness indices for 137 countries. The data is analysed using correlation and hierarchical regression analysis to test the hypotheses.

The results indicate that national income, institutions, trade openness and availability of risk capital positively influenced firm internationalisation, while home-country networking had an inverse effect. However, home country infrastructure had no statistically significant effect on firm internationalisation.

The findings highlight the importance of considering home country attributes in understanding the internationalisation of firms.

This study contributes to the body of knowledge by providing empirical evidence of the role of local factors on the internationalisation of entrepreneurial ventures. It also tests a novel conceptual model that integrates institutional and resource-based theories to explain the nuances of the internationalisation of business ventures globally.

Firefighters are daily confronted with adverse, unpredictable and demanding situations. It is a dangerous profession that puts firefighters at risk of developing burnout. Although the literature has already identified personal and work-related factors of burnout, the examination of specific factors explaining burnout among volunteer and career firefighters is still needed. The purpose of this study is to investigate the explaining role of personal and work-related factors on volunteer and career firefighters’ burnout.

A nonrandom convenience sample of 250 firefighters (67% volunteer; M_age = 31.88) completed a sociodemographic questionnaire, the Oldenburg Burnout Inventory, the Proactive Coping Scale and a standard of living subscale item. Hierarchical multiple linear regression models were tested. Fisher’s criterion was considered, with p-values lower than 0.05 interpreted as statistically significant.

Personal and work-related factors accounted for 18% of volunteer and 31% of career firefighters’ variations in burnout. Personal factors offered a greater contribution explaining volunteer and career firefighters’ burnout. Still, variations in the role played by age, family responsibilities, proactive coping and satisfaction with standard of living on burnout were found among volunteer and career firefighters. Taking the work-related factors into account, working in rotative shifts constituted a risk factor for career firefighters’ burnout.

This study advances the understanding about the role of personal and work-related factors in volunteer and career firefighters’ burnout.

This study adds information about specific factors explaining burnout among voluntary and career firefighters. It deepens existing knowledge on variations in the role played by age, family responsibilities, work conditions, proactive coping and satisfaction with standard of living on the burnout of volunteer and career firefighters.

This study aims to explore how university language students evaluate different sustainability themes and examine the overall relevance of ecological, social, cultural and economic sustainability dimensions in language education.

A questionnaire was designed to study Finnish university language students’ (n = 55) order of priority for sustainability dimensions and their sub-themes and the justifications for the priority orders using a mixed methods design. Qualitative content analysis was conducted using NVivo software, and weighted rankings were used to analyse the quantitative data.

The findings of the study showed that language students evaluated the social and cultural dimensions as the most relevant in language teaching. In all dimensions, students approached sustainability mainly by prioritising larger issues and advancing towards smaller ones. Most non-directional responses appeared in the economic dimension. In addition, individual prioritising and justification approaches varied between different sustainability dimensions.

To the best of the authors’ knowledge, no previous studies have examined language students’ evaluations of and justifications for all four sustainability dimensions. The results highlight the need to use multiple, holistic approaches and systems thinking to incorporate education for sustainable development.