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Both the SEC (Securities and Exchange Commission) and the popular press have routinely criticized firms for the complexity of their financial disclosures. This study aims to investigate how financial analysts respond to the tone complexity of firm disclosures.

Using approximately 20,000 earnings conference call transcripts of S&P 1,500 firms between 2005 and 2015, the authors first calculate the abnormal negative tone, the measure of tone complexity; then use such tone measure in econometric models to examine analyst forecast behavior. The authors also test the robustness of the results under different model specifications, tone word lists and alternative tone measure calculations.

Consistent with the notion that analysts respond to the information demand from investors and incur more costs and effort to analyze firm disclosure when the tone is more complex, the authors find that higher tone complexity is positively and significantly associated with more analyst following, longer report duration, more forecast revisions, larger forecast error and larger forecast dispersion. In addition, the authors find that tone complexity has a long-term impact on analyst following but has a limited long-term impact on analyst report duration, analyst revision, forecast error and dispersion.

This study complements existing literature by highlighting the information role of financial analysts and by providing evidence that analysts incorporate the management tone disclosed during conference calls to adjust their forecasting behaviors. The results can be used by policymakers as evidence and support for further improving firm communication from a new dimension of disclosure tone.

Bacterial cellulose (BC) is an ideal alternative filtering material. However, current functionalization approaches for BC have not been fully discovered industrially as well as academically applying textile processing. This study aims to create a sustainable fabric-like membrane made of BC/activated carbon (AC) for applications in filtration using textile padding method, to protect people from respiratory pandemics.

Fabric-like BC is first mechanically dehydrated then AC is loaded via a textile padding step. The finishing efficacy, properties of fabric-like BC/AC and NaOH pretreatment are analyzed and characterized by scanning electron microscope (SEM), field emission scanning electron microscope (FE SEM), X-ray diffraction (XRD), CIELab color space, color strength (K/S), nitrogen adsorption-desorption isotherm including Brunauer–Emmett–Teller (BET) specific surface area and Barrett–Joyner–Halenda (BJH) pore size and volume.

This research results in a fabric-like BC/AC with pore diameters of 3.407 ± 0.310 nm, specific surface area of 115.28 m²/g and an efficient scalable padding process, which uses 8 times less amount of chemical and nearly 30 times shorter treating duration than conventional methods.

Our globe is now consuming an alarming amount of non-degradable disposable masks resulting in massive trash buildup as a future environmental problem. Besides, current disposable masks requiring a significant upfront technological investment have posed challenges in human protection from respiratory diseases, especially for countries with limited conditions. By combining a sustainable material (BC) with popular padding method of textile industry, the fabric-like BC/AC will offer sustainable and practical values for both humankind and nature.

This research has offered an effective padding process to functionalize BC, and a unique fabric-like BC/AC membrane for filtration applications.

This paper aims to review the existing literature about consumers’ evaluation of products in virtual reality (VR), provide an accurate overview of this field, systematise the knowledge developed so far, identify the research gaps and propose a future research agenda.

A systematic literature review was performed on Scopus and Web of Science, resulting in a final pool of 31 articles.

Four main themes were identified, and a detailed research agenda is proposed based on the findings and following the theory, context, characteristics, methodology framework.

The provision of formal inclusion and exclusion criteria may have resulted in additional potentially relevant articles not indexed in the data set under consideration.

The paper highlights how products are perceived in VR, the consumers’ responses, the peculiarities of VR compared to other conditions and VR as a product test environment. To the best of the authors’ knowledge, this paper seems to represent the first systemic review that focusses solely on how consumers assess products in VR. The results lead to a broad proposal of directions for future research that can expand knowledge on VR in marketing. Practical implications concern the use of VR to design product strategies and as a testing and prototyping environment.

Este artículo revisa la literatura existente sobre la evaluación de los consumidores de productos en Realidad Virtual, proporciona una visión precisa de este campo, sistematiza el conocimiento desarrollado hasta el momento, identifica las lagunas en la investigación y propone una agenda de investigación futura.

Se realizó una revisión sistemática de la literatura en Scopus y Web of Science, que dio como resultado un conjunto final de 31 artículos.

Se identificaron cuatro temas principales y se propone una agenda de investigación detallada basada en las conclusiones y siguiendo el marco Teoría, Contexto, Características, Metodología.

La provisión de criterios formales de inclusión y exclusión puede haber dado lugar a artículos adicionales potencialmente relevantes no indexados en el conjunto de datos considerado.

El artículo destaca cómo se perciben los productos en la Realidad Virtual, las respuestas de los consumidores, las peculiaridades de la Realidad Virtual en comparación con otras condiciones y la Realidad Virtual como entorno de prueba de productos. Esta parece representar la primera revisión sistémica que se centra exclusivamente en cómo los consumidores evalúan los productos en la Realidad Virtual. Los resultados conducen a una amplia propuesta de direcciones para futuras investigaciones que puedan ampliar los conocimientos sobre la Realidad Virtual en el marketing. Las implicaciones prácticas se refieren al uso de la Realidad Virtual para diseñar estrategias de producto y como entorno de prueba y creación de prototipos.

本文回顾了现有的关于消费者对虚拟现实产品评价的文献, 提供了这个领域的准确概述, 系统化了迄今为止的知识, 确定了研究差距, 并提出了一个未来的研究议程。

在Scopus和Web of Science上进行了系统的文献综述, 最终形成了31篇文章的资料库。

确定了四个主要的主题, 并根据研究结果, 按照理论、背景、特征、方法框架提出了详细的研究议程。

提供正式的纳入和排除标准可能会导致更多潜在的相关文章没有被收录到所考虑的数据集中。

文章强调了产品在虚拟现实中是如何被感知的, 消费者的反应, 与其他条件相比虚拟现实的特殊性, 以及虚拟现实作为产品测试环境。这似乎代表了第一个只关注消费者如何在虚拟现实中评估产品的系统性评论。研究结果为未来的研究方向提出了一个广泛的建议, 可以扩展营销中的虚拟现实知识。实际意义在于使用虚拟现实技术来设计产品策略, 并作为测试和原型设计环境。

The purpose of this study is to discover the motivating factors for cryptocurrency investment during an economic crisis in the MENA region, with reference to the economic crisis of 2019–2022, in Lebanon.

The authors used t-test, and logistic regressions on a sample of 254 Lebanese investors to differentiate between cryptocurrency investors, and non-investors. Linear regressions of a subsample of cryptocurrency investors determined the factors that explained increasing cash investment in cryptocurrencies. Data were collected from investors in Lebanon, which could limit the generalization of the research results across the MENA region.

Investors differed from non-investors in that they were male, owned investments in the stock, bond and commodity markets, had prior investment experience in cryptocurrencies, were risk-takers and had expectations of high returns. Investors increased the dollar investment in cryptocurrencies, if they were male, as they invested more funds in securities, had previously invested in cryptocurrencies and had stronger risk-taking propensity. Expectations of high returns drove investors to cryptocurrencies, but such expectations do not stimulate further cryptocurrency investment.

This study is an initial attempt to comprehend the reactions of investors in the MENA region to a currency crisis that triggered investment in cryptocurrencies following the collapse of fiat currencies, central bank default and restrictions on bank withdrawals.

The Recast Energy Efficiency Directive 2023 has defined the concept of “split incentive,” also known as “tenant-owner dilemma.” This dilemma refers to the situation where neither landlords nor tenants have incentives to invest in energy efficiency upgrades. Although the Energy Efficiency Directive calls Member States to overcome legal barriers to remove split incentives and to encourage retrofits, the list of possible measures is too vague. This paper aims to discuss tenancy law measures designed to increase the energy efficiency of residential housing and to detect which Member States have already addressed this phenomenon.

This paper analyses, from a civil legal perspective, the possible private law barriers arising from the tenant-owner dilemma when performing energy efficiency works in selected countries and proposes legal reforms in tenancy law and related policies to overcome them. To do so, this paper follows a legal-dogmatic and comparative law methodology.

This paper concludes that some tenancy law provisions, such as the possibility to increase the rent after energy efficiency renovations and long-term leases, may challenge the tenant-owner dilemma in private rented markets, thus promoting renovations and retrofitting for energy efficiency purposes. It also proposes other policies intended to increase parties’ willingness to undertake works.

More research on the economic and legal efficiency to regulate some of the civil law measures to challenge the tenant-owner dilemma should be necessary.

The civil law measures included in this paper may help national policymakers meet the energy efficiency targets, according to what is established in the Recast Energy Efficiency Directive 2023.

Based on the economic theory of the tenant-owner dilemma, this paper investigates the elements of tenancy law that may contribute to less energy-efficient homes, proposing policies for those countries interested in addressing the energy-efficiency challenge from a private law point of view.

All colleges of medicine in the Gulf Cooperation Council (GCC) adopt English as a language of instructions. This study aimed to examine medical students' views on introducing medical terminology in Arabic within an English-based curriculum.

This descriptive study targeted preclinical second- and fourth-year students in the College of Medicine and Medical Sciences at the Arabian Gulf University, during the academic year 2022–2023 (n = 407). Within the pharmacology teaching material in unit I (second year) and unit VIII (fourth year), which are taught in English, students were provided with medical terms in Arabic. At the end of these two units, students' views were sought by using a self-administered questionnaire.

The number of respondents was 263 (response rate 64.1%: 22.2% males, 77.8% females). Most participants received their school education mainly in Arabic (78.8%). A significant percentage of students believed that providing Arabic terms helped their learning (79.8%). If pharmacology is taught exclusively in English, majority of the students anticipated to face difficulties when explaining drug treatment to their patients in the future (71.3%). Most respondents expected this intervention to help them communicate with patients (86.7%), and preferred to include it in the clinical skills training (82.2%). The second-year students and those whose school education was mainly in Arabic were more likely to agree to the intervention (p < 0.05 for both).

The introduction of medical terms in Arabic is an acceptable alternative to complete Arabization, and is believed to help students in their learning and communication with their patients.

The purpose of this paper is to present an explanatory model of the factors that determine parental support for possible entrepreneurial initiatives of the parents' children. This is one of the most important challenges to promote the next generation of entrepreneurs.

A perspective based on the theory of planned behavior (TPB) is adopted, and the model is extended to integrate the antecedents of personal attitude toward children's entrepreneurship. The model is tested on a sample of 400 parents.

Perceived behavioral control (PBC), namely the perception that parents have about the readiness of the children to be entrepreneurs plays the greatest effect on the intention of supporting children's entrepreneurial behavior. In addition, parents' perceptions of how people from the immediate surroundings value the children's possible entrepreneurial behavior are the second most influential variable in the parents' intention to support such behavior. Finally, a parent's personal attitude toward the parent's children's entrepreneurship is the third most relevant variable to explain intention to support, practically with the same weight as subjective norms (SNs).

The results seem to confirm the importance of entrepreneurship development policies that focus on family characteristics and mindsets rather than on more traditional formal institutional support, such as business advice or financial resources. Family emerges as a key mediator to transfer the rules of normative and cultural-cognitive dimensions. Moreover, the results indicate the important role of entrepreneurship education in enhancing entrepreneurship not only due to the positive direct impact on students' entrepreneurial intentions, but also by changing parents' perceptions regarding the children's capabilities and, therefore, influencing the support for entrepreneurial behavior.

Previous studies have analyzed the influence of support from the immediate environment, especially the family, on young people's entrepreneurial behavior and have defined the types of support the family environment can provide. However, there is a missing link in the literature regarding the determinants of family support, despite the determinants' importance in configuring the normative and cultural-cognitive dimensions and the determinants' impact on society, promoting entrepreneurship.

This paper aims to examine whether firms meeting or just beating an earnings benchmark engage in tone management in earnings conference calls to complement earnings management in the UK context. It also investigates whether the audience tone in beating or just meeting earnings fails to predict future performance.

This study was performed using a sample of non-financial UK firms listed in the FTSE 350 index over the period 2010–2015.

The findings show that firms that exercise more earnings management to meet or just beat earnings are positively associated with the abnormal tone during earnings conference calls. The outcomes also reveal that the audience’s tone of firms meeting or just beating an earnings benchmark fails to predict future performance. This confirms the effectiveness of the tone management in managing the perception of audience.

This study highlights the need for increased accountability by firms on earnings conference call. It also supports academics and practitioners in understanding the management discretion used in reporting and communication during the earnings conference call. Overall, the results of this study are beneficial for regulators, policymakers and professionals, regarding confirming the need for the earnings conference calls to be regulated.

To the best of the authors’ knowledge, this is the first study that examines the association between earnings management and tone management in the UK earnings conference calls. It adds to the existing literature by examining the self-serving behaviour of managerial tone during earnings conference calls within a sitting in which meeting or just beating a benchmark is used. Unlike several studies that explain the behaviour of tone as a signalling strategy, this study reveals that the tendency of impression management behaviour can explain the tone management.

This paper aimed to explore the presence of altmetric data across the sub-categories of the medical science discipline and also explore whether the openness of articles results in (dis)advantage for altmetrics mentions.

The research implies data carpentry methods for gathering bibliographic data related to narrow fields of medical science discipline from the Scopus database with at least one Indian author affiliation during 2012–2021. The corresponding data were also collected from three different sources: Altmetric.com, Mendeley.com and Unpaywall.org, using OpenRefine and REST/API calls. Further, the authors observed open access altmetric advantages (OAAA) and categorical OAAA (COAAA) across seven altmetric platforms for all articles as well as discipline-wise.

The result shows that the overall coverage of altmetric events is still low, but it shows an increasing trend from the past. Mendeley has the largest coverage; almost 97.12% of publications are covered. The health policy discipline has extensive coverage across altmetric platforms (nearly 57.40% of publications in altmetrics and 99.23% in Mendeley), whereas the drug guides has the lowest (almost 0.92% in Altmetrics and 77.05% in Mendeley). Moreover, the OA articles have been highly covered in altmetrics than those of non-OA articles, and bronze OA articles covered mostly compared to others. News registered with the significant OA altmetric advantages across disciplines. Categorically, bronze and hybrid OA have the largest altmetric advantages.

This research is a unique attempt to apply OAAA and COAAA to explore OA altmetric advantages of narrow subject categories of medical science disciplines.

The worldwide imposition of lockdown measures to control the 2020 coronavirus disease 2019 (COVID-19) outbreak has shifted most executive communications with external stakeholders online, resulting in quick responses from stakeholders. This study aims to understand how presentational styles exhibited in online communication induce immediate audience responses and empirically test the effectiveness of reactive impression management tactics.

The authors analyze presentational styles using MP3 files containing executive utterances during earnings call conferences held by S&P 100-listed firms after June 2020, the quarter after the World Health Organization declared the COVID-19 outbreak a pandemic on March 11, 2020. Using timestamps, the authors link each utterance to a 1-minute interval change in the ask/bid prices of the stocks that occurs a minute after the corresponding utterance begins.

Exhibiting an informational presentation style in earnings calls leads to positive and immediate audience responses. Managers tend to increase their reliance on promotional presentation styles rather than on informational ones when quarterly earnings exceed market forecasts.

Drawing on organizational genre theory, this research identifies the discrepancy between the presentation styles that audiences positively respond to and those that managers tend to exhibit in earnings calls and provides a reactive impression management typology for immediate responses from online audiences.