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Environmental, social and governance (ESG) issues have become the cornerstone of investment decisions in firms today. With that, publicly traded ESG indices (like the BSE ESG 100 index in India) have come into existence. The existing literature signifies that ESG generates financial implications and induces stability. The current study aims to test whether the firms listed on the ESG index (ESG-sensitive firms) face less financial distress than those not listed on such an index.

The study applies panel data difference-in-differences (DID) regression by considering ESG as an unstaggered treatment to 74 non-financial firms listed on India's Bombay Stock Exchanges (BSE) 100 index. In total, 42 firms are ESG treated as they got listed on the BSE ESG 100 index, formed in 2017. The remaining 32 firms form the control group. The confidence intervals and standard errors are estimated using clustered robust errors and the Donald and Lang method.

Listing on the ESG index matters for financial stability; differences in financial distress are significant on financial distress. ESG-sensitive firms face less financial distress than non-ESG firms (or firms not perceived as ESG-sensitive). The results are consistent across two financial distress measures, Altman z-scores for emerged and emerging markets. Thus, the DID in distress status between ESG-sensitive and non-ESG firms matter.

The study creates vibrant implications for practitioners using ESG to reduce financial distress.

The study is one of its kind to test the treatment effects of ESG on firm value and quantify treatment effects on financial distress.

Some researchers have found that disasters may have a “blessing in disguise effect” that some disaster sites transformed into more popular tourism destinations; however, no studies have analyzed the heterogeneity of the “blessing in disguise effect”. This paper aims to explore and determine the effect of cultural distance on international inbound tourist arrivals to a post-disaster tourist destination that could explain this heterogeneous phenomenon.

This study used a threshold regression model and a differences-in-differences (DID) approach to analyze 2000–2016 international tourist arrival data from 13 main origin countries to Sichuan Province before and after the 2008 Wenchuan Earthquake in China.

The effect of cultural distance on post-disaster inbound arrivals from the various origin countries followed a non-linear U-shaped “double-edged sword” pattern rather than displaying a simple linear relationship. Most notably, the disaster appeared to have a more positive effect on arrivals from countries with larger cultural distances, while the effect on arrivals from countries with shorter cultural distances was negative.

This study found that cultural distance could explain the heterogeneous “blessing in disguise” phenomenon, and it had both positive and negative impacts on tourism destination recovery; that is, a definite “double-edged sword effect” of cultural distance was found, which could help destination marketing organizations and management departments to design appropriately targeted marketing for post-disaster tourism destination recovery.

些研究人员发现, 灾难可能会产生“因祸得福效应”, 即一些灾难现场变成了更受欢迎的旅游目的地。然而, 目前还没有研究分析这种“因祸得福效应”的异质性。本研究旨在探讨文化距离对灾后旅游目的地的国际入境旅游流的影响, 从而解释这种异质性现象。

本文采用门槛回归模型和双重差分法（DID）分析了2008年汶川地震发生前后（2000–2016年）来自13个主要来源国到中国四川省旅游的国际入境旅游流数据。

文化距离对灾后客源国的入境旅游人数的影响呈现非线性的U型“双刃剑”模式, 而不是简单的线性关系。最值得注意的是, 灾难似乎对来自文化距离较大的客源国的游客人数产生了更积极的影响, 而对来自文化距离较短的客源国的游客人数产生了消极的影响。

本研究发现, 文化距离可以解释异质性的“因祸得福”现象, 文化距离对旅游目的地恢复既有积极影响, 也有消极影响, 即文化距离具有明确的“双刃剑效应”。这可以帮助旅游目的地的灾后恢复设计合理的、有针对性的营销策略和恢复政策。

Algunos investigadores han encontrado que los desastres pueden tener la “bendición del efecto disfraz” de que algunos sitios de desastre se transformen en destinos turísticos más populares;Sin embargo, ningún estudio ha analizado la heterogeneidel “efecto de bendición disfrazado”.El objetivo de este estudio es explorar y determinar el efecto de la distancia cultural en los flujos turísticos internacionales hacia un destino turístico después del desastre, lo que podría explicar este fenómeno heterogéneo.

se empleun modelo de regresión de umbral y un enfoque de diferencias en diferencias (DID) para analizar los datos de llegada de turistas internacionales de 2000–2016 de trece países de origen principal A la provincia de Sichuan antes y después del terremoto de Wenchuan de 2008 en China.

el efecto de la distancia cultural en las llegde los diversos países de origen después del desastre siguió un patrón de “espada de doble filo” no lineal en forma de u, en lugar de mostrar una relación lineal simple.Más notablemente, el desastre pareció tener un efecto más positivo en las llegde países con distancias culturales más grandes, mientras que el efecto en las llegde países con distancias culturales más cortas fue negativo.

este estudio encontró que la distancia cultural podría explicar el heterogéneo fenómeno de la “bendición disfrazada” y que tenía impactos tanto positivos como negativos en la recuperación de un destino turístico;Es decir, se encontró un “efecto de doble filo” de la distancia cultural, que podría ayudar a las organizaciones de comercialización de destinos turísticos y a los departamentos de administración a diseñar estrategias de comercialización dirigidas adecuadamente para la recuperación de destinos turísticos después del desastre.

Government repression against civilians while enforcing COVID-19 related lockdowns was widely reported in Africa. At the same time, many have claimed that high-speed (4G) mobile network proliferation provide an accountability mechanism that may constrain police abuses. This study focused on Nigeria to examine (1) the effect of COVID-19 lockdowns on police repression and (2) whether widespread high-speed mobile data networks constrain police repression.

Using data from the Armed Conflict Location and Event Database (ACLED) and the Mobile Coverage Database, this study used difference-in-differences (DID) and triple difference (DDD) estimation on a sample of 423,925 observations (local government area-days) between January 1, 2019 and June 30, 2020 to estimate the causal effects of COVID-19 lockdowns and high-speed (4G) mobile data on police repression.

Lockdowns increased certain forms of police repression in areas with substantial high-speed (4G) mobile networks. Separate from the lockdowns, widespread 4G network increased police repression even without lockdowns.

Proliferation of high-speed mobile networks in Nigeria appears to facilitate, rather than constrain, police repression. It is possible that high-speed mobile data networks allow police to detect and repress citizen behaviors, rather than permitting citizens to correct repressive police behaviors.

Although many studies have explored the COVID-19 pandemic and police behavior in Western countries, only a few have examined its effects in states with even more troubled policing institutions, including those in sub-Saharan Africa, using DID and DDD estimation.

Considering the substantial benefits derived from the use of Building Information Modeling (BIM) in construction projects, governments and its related sectors have introduced mandatory policies requiring the use of BIM. However, little is known about the impact of mandatory policies on BIM-based project performance. Therefore, the purpose of this paper is to provide a systematical understanding on the impact of policy interventions on the implementation practice of innovative technologies.

This paper utilizes the propensity score matching and difference in differences (PSM-DID) method to investigate the impact of policy interventions on BIM-based project performance. Using the panel data collected from 2015 to 2021 in the Hong Kong construction industry, this paper explores the impact of the first mandatory BIM policy on the BIM-based project performance of three key stakeholders.

The subjective BIM performance and BIM return on investment (ROI) have significantly improved after implementing the mandatory BIM policy. The promotion effect of mandatory BIM policy on BIM-based project performance gradually increases over time. Moreover, the promotion effect of mandatory BIM policy on BIM performance shows significant heterogeneity for different stakeholders and organizations of different sizes.

This study examined the impact of policy interventions on BIM-based project performance. The research findings can provide a holistic understanding of the potential implications of innovative mandatory policy in performance improvement and offer some constructive suggestions to policymakers and industry practitioners to promote the penetration of BIM in the construction industry.

Past research on self-employment and health yielded conflicting findings. Integrating predictions from the Stressor-Strain Outcome model, research on challenge stressors and allostatic load, we predict that physical and mental health are affected by self-employment in distinct ways which play out over different time horizons. We also test whether the health impacts of self-employment are due to enhanced stress (work-related strain) and differ for man and women.

We apply non-parametric propensity score matching in combination with a difference-in-difference approach and longitudinal cohort data to examine self-selection and the causal relationship between self-employment and health. We focus on those that transit into self-employment from paid employment (opportunity self-employment) and analyze strain and health over four years relative to individuals in paid employment.

Those with poorer mental health are more likely to self-select into self-employment. After entering self-employment, individuals experience a short-term uplift in mental health due to lower work-related strain, especially for self-employed men. In the longer-term (four years) the mental health of the self-employed drops back to pre-self-employment levels. We find no effect of self-employment on physical health.

Our research helps to understand the nonpecuniary benefits of self-employment and suggests that we should not advocate self-employment as a “healthy” career.

This article advances research on self-employment and health. Grounded in stress theories it offers new insights relating to self-selection, the temporality of effects, the mediating role of work-related strain, and gender that collectively help to explain why past research yielded conflicting findings.

This paper investigates the impact of adopting quality management standards like ISO9001 on a firm's performance and the mediator role of human capabilities within firms in this relationship. The article analyses this mediator effect in the context of an emerging economy that set a policy reform aimed at increase ISO adoption and with a large share of informal labour markets.

This study implements a quantitative approach, applying a Difference in Differences-DiD model with a Propensity Score Matching on fixed effect panel data analysis of a sample of certified and non-certified firms using firm-level data obtained from the national statistics office of Colombia. This methodology allows having comparable groups before the policy implementation. It reduces differences in observable characteristics and controls for parallel trends in primary outcomes before the policy reform.

The research findings suggest that after Colombian policy reform of the quality system (2006), firms that adopted ISO 9001 certification increased innovation (5.2%), labour productivity (4.6%), sales (5.7%) and wages (4.9%). Furthermore, it shows that the share of permanent workers is an essential mediator in adopting quality programs. Adopters firms with a large percentage of temporary workers weaken their initial investment in quality infrastructure.

This research does not consider one key aspect. This is the lack of information about the organizational culture inside Colombian organizations that is related to a successful implementation of Quality Management standards like ISO 9001. However, it does not affect the conclusion about the mediation effect of human capital in the relationship between ISO 9001 and firm performance.

The study covered all the Colombian manufacturing firms with ten or more employees. It provides critical insight for managers to value implementing ISO 9001 certification and appropriately put attention to enhancing their firms' human capital in emerging economies. Also, a policy implication of the paper is that governmental efforts to strengthen quality infrastructure in emerging economies should also include steps to increase a firm's investment in human capital.

This study provides further support for government policies to strengthen firms' incentives to adopt modern management practices. The strong effects of implementing these management practices on sales, productivity and innovation have been identified. Furthermore, the investments in quality infrastructure must be accompanied by investment in human capital and workforce stability.

Marketing and brand managers are under more pressure than ever before to demonstrate the impact of the managers' strategies and actions on company value, especially in an emerging market. In this context, the authors investigate the relationship between brand equity and company performance using the rankings of most valued brands from Brand Finance (BF), Brand Analytics (BZ) and Interbrand (IB).

The authors use used a panel from the period between 1990 and 2018 (29 years), consisting of a sample of 689 companies with shares traded in an emerging market representing 7,970 observations with unbalanced data. The authors applied a dynamic Differences-in-Differences Ordinary Last Squares (DID OLS) method.

The main finding of this study is that brands ranked as valuable significantly increased the brands' companies' intangible assets, return on assets, free cash flow (FCF) and market value.

The present study helps brand and marketing managers show to chief executive officers (CEOs) and shareholders the importance of brand development. In addition, valuable brand companies of an emerging market may represent an interesting opportunity for market investors.

This study contributes to the marketing literature, addressing the fields of marketing and finance, by analyzing the performance of companies separately over a long period, with different metrics, an unconventional model in the marketing area and different rankings of valuable brand names.

The purpose of this review article is to demonstrate how the quasi-experimental approach has been used to study environmental and natural resource issues related to agricultural production.

This review article first provides a short introduction to the quasi-experimental approach using the potential outcomes framework and then uses studies on the environmental sustainability of agricultural production to illustrate how quasi-experimental methods have been applied. Papers reviewed consist of studies that estimate the environmental externalities from agricultural production, evaluate agri-environmental and other related policies and programs, and demonstrate issues related to on-farm resource use and climate adaptation.

Difference-in-differences (DID) and two-way fixed effects methods that utilize the spatial and temporal variation in panel data are widely used to estimate the causal impact of changes in agricultural production and policy on the environment. Utilizing the discontinuities and limits created by agricultural policies and regulations, local treatment effects on land and other input use are estimated using regression discontinuity (RD) or instrumental variable (IV) methods with cross-sectional data.

Challenges faced by the food systems have made agricultural sustainability more critical than ever. Over the past three decades, the quasi-experimental approach has become the powerhouse of applied economic research. This review article focuses on quasi-experimental studies on the environmental sustainability of agriculture to provide methodological insights and to highlight gaps in the economics literature of agricultural sustainability.

This chapter presents an evaluation of the literature on the effect of the pandemic on mental health. It draws mainly on the existing economics literature and presents the state of the art of the COVID-19 effect on mental health. While paying particular attention to how the deterioration of mental health evolved over time and across countries, this chapter also considers variation of mental health across individual demographic characteristics as well as different circumstances through which mental health has been affected. Moreover, it provides a general assessment of the methodological aspects of various studies, by discussing the sample and data used, measures of mental health as well as causality issues. Overall, researchers for various countries around the world adopting different measures of mental health, often non-comparable samples and different methodologies document consistently that the level of mental health has been deteriorated during the pandemic, with the negative effect of the lockdown on mental health being evident in the early stage of the pandemic and on the whole population. Findings point out to a high degree of heterogeneity within demographic groups.

The purpose of this paper is to empirically investigate the impact of weather index insurance on agricultural technology adoption in rural China.

A field experiment was conducted with 344 rural households/farmers in Heilongjiang and Jiangsu Provinces, China. DID model was used to evaluate farmers’ technology adoption with and without index insurance.

The results show that weather index insurance has a significant effect on the technology adoption of rural households; there is a regional difference in this effect between Heilongjiang and Jiangsu. Weather index insurance promotes technology adoption of rural households in Heilongjiang, while has limited impact on those in Jiangsu. Weather, planting scale and risk preference are also important factors influencing the technology adoption of rural households.

This research is subject to some limitations. First, the experimental parameters are designed according to the actual situation to simulate reality, but the willingness in the experiment does not mean it will be put into action in reality. Second, due to the diversity of China’s climate, geography and economic environment, rural households are heterogeneous in rural China. Whether the conclusion can be generalized beyond the study area is naturally questionable. A study with more diverse samples is needed to gain a fuller understanding of index insurance’s effects on farmers in China.

This research provides a rigorous empirical analysis on the impact of weather index insurance on farmers’ agricultural technology adoption through a carefully designed field experiment.