Search results

The present research study aims to explore the impact of the most recent Israeli–Palestinian conflict, which unfolded in October 2023, on global equity markets, including a wide range of both emerging and developed markets (as per the Morgan Stanley Capital Investment country classification).

The market model of event study methodology, with an estimation window of 200 days and 28-day event window (including event day, i.e. October 7, 2023), has been employed to investigate the event’s impact on the stock markets of different countries, with 24 emerging countries and 23 developed countries. The daily closing prices of the prominent indices of all 47 countries have been analyzed to examine the impact of the conflict on emerging markets, developed markets and overall global equity markets. Additionally, cross-sectional regression analysis has been performed to investigate the possible explanations for abnormal returns.

The findings of the study suggest the heterogeneous impact of the selected event on different markets. Notably, emerging markets and the overall global equity landscape exhibited substantial negative responses on the event day, as reflected in average abnormal returns of −0.47% and −0.397%, respectively. In contrast, developed markets displayed resilience, with no significant negative impact observed on the day of the event. A closer examination of individual countries revealed diverse reactions, with Poland, Egypt, Greece, Denmark and Portugal standing out for their positive or resilient market responses. Poland, in particular, demonstrated significantly positive cumulative abnormal returns (CARs) of 7.16% in the short-term and 8.59% in the long-term event windows (−7, +7 and −7, +20, respectively), emphasizing its robust performance amid the geopolitical turmoil. The study also found that, during various event windows, specific variables had a significant impact on the CARs.

The study suggests diversification and monitoring of geopolitical risks are key strategies for investors to enhance portfolio resilience during the Israeli–Palestinian conflict. This study identifies countries such as Poland, Egypt, Greece, Denmark and Portugal with positive or resilient market reactions, providing practical insights for strategic investment decisions. Key takeaways include identifying resilient markets, leveraging opportunistic strategies and navigating market dynamics during geopolitical uncertainties.

As per the authors’ thorough investigation and review of the literature, the present study is the earliest attempt to explore the short-term and long-term impact of the 2023 Israeli–Palestinian conflict on equity markets worldwide using the event study approach and cross-sectional regression analysis.

Security education, training and awareness (SETA) programs are the key to addressing “people problems” in information systems (IS) security. Contrary to studies using conventional methods, the present study leveraged an “event” lens and dimensionalized employees' perceptions into three sub-dimensions: perceived novelty, perceived disruption and perceived criticality. Moreover, this research went a step further by examining how pedagogical and communication approaches to a SETA program affect employees' perceptions of the program. This study then investigated whether – and if so, how – these approaches impact employees' perceptions of the SETA program and their subsequent commitment to it.

Utilizing a factorial-based scenario survey, this study empirically tested a model of the above relationships via covariance-based structural equation modeling.

The results of this research showed that pedagogical approaches were more effective than communication approaches and that employees' perceptions of the SETA program accounted for a large variance in their commitment to SETA.

First, this research deepens understanding of the protection of information assets by elaborating on the different approaches that organizations can take to encourage employees' commitment to SETA. Second, the study enriches the SETA literature by theorizing a SETA program as an organizational “event”, which represents a major shift from the conventional approach. Third, the study adds to the theoretical knowledge of the event lens by extending it to the SETA context and investigating the relationship among three event strength components.

This study aims to use event system theory and job demands–resources (JD-R) model to examine the double-edged sword effect of event strength of Beijing Winter Olympics (BWO) on volunteers’ in-role performance and proactive behavior as mediated by work overload and meaningfulness.

The sample included 193 volunteer–leader dyads working at one BWO venue. The authors conducted a multitime and multisource study using Mplus 8 to examine the hypotheses.

Volunteers’ perceived BWO event strength was positively related to work overload, which reduced in-role performance and proactive behavior. Volunteers’ perceived BWO event strength was also positively related to work meaningfulness, which promoted in-role performance and proactive behavior. Perceived organizational support served as a moderator by mitigating the positive relationship between perceived BWO event strength and work overload; however, it did not strengthen the positive relationship between perceived BWO event strength and work meaningfulness.

This study developed a comprehensive model of how BWO event strength affected volunteers’ performance from the perspective of event system theory and the JD-R model, which enriches theoretical application and research in the context of mega sport events.

本研究运用事件系统理论和工作需求-资源(JD-R)模型, 探讨了2022年北京冬奥会（BWO）事件强度通过工作负荷和工作意义感知进而对志愿者角色内绩效和主动性行为的双刃剑效应。

我们在冬奥会场所之一实施了多时点、多来源的收集数据的方式, 最终样本包括193份志愿者-领导配对数据, 并使用Mplus 8来检验我们的假设。

志愿者感知的BWO事件强度与工作负荷呈正相关, 进而会降低他们的角色内绩效和主动性行为。志愿者感知的BWO事件强度与工作意义感也呈正相关, 进而会促进他们的角色内绩效和主动性行为。感知的组织支持通过弱化BWO事件强度与工作负荷之间的正相关关系, 进而调节了志愿者的角色内绩效和主动性行为; 然而, 感知的组织支持并没有强化BWO事件强度与工作意义感之间的正相关关系。

本研究结合事件系统理论和JD-R模型, 发展了一个BWO事件强度对志愿者绩效表现影响的综合模型, 丰富了有关大型体育赛事志愿者的理论应用和研究。

Este estudio utiliza la teoría del sistema de eventos y el modelo de demandas de trabajo-recursos (JD-R) para examinar el efecto de doble filo de la fuerza del evento de los Juegos Olímpicos de Invierno de Pekín (BWO) sobre el rendimiento en el rol y el comportamiento proactivo de los voluntarios, mediado por la sobrecarga laboral y la significatividad del trabajo.

Nuestra muestra incluyó 193 díadas de voluntarios-líderes que trabajaban en una sede de BWO. Realizamos un estudio multitemporal y multifuente utilizando Mplus 8 para examinar nuestras hipótesis.

La intensidad percibida por los voluntarios en los eventos de BWO también se relacionó positivamente con la significación del trabajo, que promovió el rendimiento en el rol y el comportamiento proactivo. Además, el apoyo organizativo percibido sirvió como moderador al mitigar la relación positiva entre la intensidad percibida del evento BWO y la sobrecarga de trabajo; sin embargo, no reforzó la relación positiva entre la intensidad percibida del evento BWO y la significatividad del trabajo.

Este estudio desarrolló un modelo integral de cómo la fuerza del evento BWO afectaba al rendimiento de los voluntarios desde la perspectiva de la teoría del sistema de eventos y el modelo JD-R, lo que enriquece la aplicación teórica y la investigación en el contexto de los megaeventos deportivos.

This study aims to analyze and discuss whether and how consumer-to-manufacturer (C2M) mode empowered by e-commerce retail platforms’ big data affects the stock returns of firms in supply chains.

This study selects 195 companies affected by four C2M events as samples and empirically analyzes the impact mechanisms of C2M mode on supply chain firms’ stock returns by event study.

This paper finds that C2M announcements own a positive impact on the stock returns of supply chain firms. Further, the results show that the business and financial characteristics play a significant impact on the relationship between the C2M mode and firm stock return performance. For example, C2M mode leads to huge stock returns when firms cooperate with the platforms related to their business content. In addition, the business scope can strengthen the positive promotion of C2M mode in stock returns, while business concentration weakens the positive promotion of C2M mode in stock returns.

The results found in this paper can provide practical guidance for the firms in supply chains to further apply C2M mode from the business characteristics and financial performance view.

The present study, by using signaling perspective aims to investigate short-term valuation impact of rebranding announcements (with name change) on stock performance of 160 service firms listed on NSE NIFTY-500 over the period of 2000–2019.

An event study methodology is used to estimate the cumulative abnormal returns (CARs) and its statistical significance is tested with both parametric and non-parametric test-statistics. Separate analysis has been conducted for firms with “major vs minor” and “restructuring vs non-restructuring” name change.

Findings of the study suggest that rebranding decisions are negatively associated with abnormal returns around the announcement period indicating strong disapproval of name change event. In addition, investors formed strong adverse opinion for major name change firms as compared to minor name change firms. Further, restructured name change sample document larger negative drift than non-restructured sample.

Findings offer substantial repercussions for shareholders who can make informed judgments about name change as a signal of reinventing brand identity. Managers should announce detailed rationale behind name change decision to market for enhancing corporate reputation.

This study contributes to marketing-finance interface literature and is first to examine market reaction to name change of Indian service firms and moreover, made a distinction between major vs minor and restructured vs non-restructured name change events for these firms.

García and Cox (2013) have clarified that there is an urgent need for comparative studies of city/capital of culture (COC) events. With the ambition to foster exchange and learning, knowledge production concerning cultural initiatives requires to think beyond the individual case study of a singular event. Simultaneously, the two scholars observe comparability and context-sensitivity between events as a major issue in these particular canons of research.

Drawing upon the research experience of the project, this article experiments with a novel reading of city/capital of culture events.

Beyond the singularity of a case study but with attention to context-sensitivities, the article proposes a relational reading practice to study the culture-led event framework. The author illustrates the proposed approach with material collected in ethnographic fieldwork in the cities of Donostia/San Sebastián, European COC 2016, and Hull, UK COC 2017.

By using one case study as a metaphorical pair of glasses framing the investigative perspective on the other, an analytical relationship between two COC events is established, fostering a broader prism of analysis and connected learning.

This study aims to test the market anomaly of herding behavior driven by the response to supply chain disruptions in extreme market conditions such as those observed during COVID-19. The authors empirically test the response of the capital market participants for B2B firms, resulting in herding behavior.

Using the event study approach based on the market model, the authors test the impact of supply chain disruptions and resultant herding behavior across six sectors and among different B2B firms. The authors used cumulative average abnormal returns (CAAR) and cross-sectional absolute deviation (CSAD) to examine the significance of herding behavior across sectors.

The event study results show a significant effect of COVID-19 due to supply chain disruptions across specific sectors. Herding was detected across the automotive and pharmaceutical sectors. The authors also provide evidence of sector-specific disruption impact and herding behavior based on the black swan event and social learning theory.

The authors examine the impact of COVID-19 on herding in the stock market of an emerging economy due to extreme market conditions. This is one of the first studies analyzing lockdown-driven supply chain disruptions and subsequent sector-specific herding behavior. Investors and regulators should take sector-specific responses that are sophisticated during extreme market conditions, such as a pandemic, and update their responses as the situation unfolds.

The existence of a wedding organizer plays an essential role in realizing the dream wedding of the bride and groom and the progression of a family-centred structure. The wedding organizer industry is one of the business sectors that experienced a significant impact during the COVID-19 pandemic due to various policies restricting mobility and interaction. This study aims to answer research questions: What challenges are experienced by wedding organizers in the context of COVID-19? What factors drive entrepreneurial resilience for family business continuity in the face of the COVID-19 pandemic?

This study uses a qualitative research design through semi-structured in-depth interviews with eight wedding organizers in Indonesia with questions centred around the context of the family in the event.

This study found several challenges faced by wedding organizers, including personal barriers and environmental challenges due to the COVID-19 pandemic. The four drivers of entrepreneurial resilience of wedding organizers in dealing with the COVID-19 crisis include entrepreneurial motivations, entrepreneurial characteristics, firm strategies, and environmental support. These factors create a positive interaction effect for the continuity of the wedding event organizers.

This study contributes to the literature by providing valuable insights into the broader entrepreneurial resilience issue and offering practical recommendations for wedding organizers and other entrepreneurs facing similar challenges. This study has both academic and practical implications in providing event management guidance and future avenues of research in this field.

The purpose of this paper is to examine the hard and soft measures of service quality and visitors' satisfaction, which ultimately contribute to visitor loyalty to the destination, specifically in the context of the Borneo Cultural Festival (BCF) in Sibu, Sarawak (Malaysia).

The study uses a quantitative research approach with 427 valid responses from domestic and international tourists of BCF and employs the cognitive-affective-conative theory to examine how the festival impacts visitor loyalty.

The findings indicate that both hard and soft measures significantly contribute to the service quality and visitor satisfaction at the BCF. Additionally, service quality and visitor satisfaction were found to positively influence destination loyalty, while the relationship between legibility and visitor satisfaction was not significant.

The findings encourage the ministry and event organisers to adopt a destination event strategy that positions Sibu as an attractive event destination capable of attracting domestic and international tourists.

The findings of this study contribute to the existing body of knowledge on event tourism and destination loyalty by applying the cognitive-affective-conative theory. This study marks the first of its kind, analysing both the tangible (hard) and intangible (soft) measures of service quality and their impact on visitor satisfaction, ultimately influencing visitor loyalty to the destination, particularly in the context of the BCF in Sibu, Sarawak.

It is not possible for every fan of a sport to watch matches at stadiums because of the capacity and location constraints. Furthermore, although sport fans could not physically attend sporting events during the COVID-19 pandemic, corporations still showed interest in sponsoring such events. To better understand this phenomenon, this study examined the effects of fans' event involvement on event reputation, event commercialization, corporate brand credibility, corporate brand image and purchase intentions of the corporate sponsor brand.

A total of 646 responses were collected from fans of Indian Premier League teams. Confirmatory factor analysis and covariance-based structural equation modelling analyses were conducted on the collected data.

Results showed that fans' involvement in televised sporting events had a positive influence on the events' reputation, which, in turn, had a significant impact on their corporate brand credibility and image. Furthermore, the corporate brand credibility and image had a positive impact on the fans' purchasing decisions.

This study provides valuable implications for marketing managers aiming to enhance their understanding of the impact of event sponsorship on corporate brands. In addition, the findings provide insight into how to support the development of effective sponsorship strategies in the future. The results suggest that sponsoring companies should consider maintaining the credibility and image of their brands to achieve the desired outcomes from sponsoring such sporting events.