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The authors content analyze 76 empirical Strategic Management Journal articles to determine how studies control for threats to internal validity, a common source of flaws in research designs. Results indicate that most studies fail to control for one or more threats to internal validity. In particular, selection effects were the most frequently appearing threat, followed by history effects, ambiguity about the direction of causal inference, changing data sources and subject mortality. In general, the results suggest that strategy researchers need to more carefully account for threats to the internal validity of their research designs. Suggestions for addressing these problems are provided.

This study aims to provide an objective analysis of the state-of-the-art and intellectual development of publications related to event study methodology in business research.

The sample includes 1,219 papers related to event study methodology, covering all business disciplines and spanning 34 years from 1983 to 2016.

Through three stages of primary analysis, namely, initial sample, citation and co-citation analyses, the authors identified the publication trends, supplementary techniques, influential publications and intellectual clusters in the area of event study methodology in business.

The findings serve as a benchmark for the extensive literature related to event study methodology in business and may facilitate the transference of the amassed useful techniques among disciplines and the identification of future research directions.

The current study represents as a pioneering effort to review event study-related publications using bibliometric analysis.

To provide an example of the use of system dynamics within the context of a discrete‐event simulation study.

A discrete‐event simulation study of a production‐planning facility in a gas cylinder‐manufacturing plant is presented. The case study evidence incorporates questionnaire responses from sales managers involved in the order‐scheduling process.

As the project progressed it became clear that, although the discrete‐event simulation would meet the objectives of the study in a technical sense, the organizational problem of “delivery performance” would not be solved by the discrete‐event simulation study alone. The case shows how the qualitative outcomes of the discrete‐event simulation study led to an analysis using the system dynamics technique. The system dynamics technique was able to model the decision‐makers in the sales and production process and provide a deeper understanding of the performance of the system.

The case study describes a traditional discrete‐event simulation study which incorporated an unplanned investigation using system dynamics. Further, case studies using a planned approach to showing consideration of organizational issues in discrete‐event simulation studies are required. Then the role of both qualitative data in a discrete‐event simulation study and the use of supplementary tools which incorporate organizational aspects may help generate a methodology for discrete‐event simulation that incorporates human aspects and so improve its relevance for decision making.

It is argued that system dynamics can provide a useful addition to the toolkit of the discrete‐event simulation practitioner in helping them incorporate a human aspect in their analysis.

Helps decision makers gain a broader perspective on the tools available to them by showing the use of system dynamics to supplement the use of discrete‐event simulation.

The purpose of this paper is to demonstrate with real data the enhanced statistical power of a GLS‐based event study methodology that requires the same input data as the traditional tests.

The paper uses full sample, subsample and simulated modified sample analyses to compare the statistical power of the GLS methodology with traditional methods.

The paper finds that it is often the case that traditional tests will not reject the null when a GLS‐based test may (strongly) reject the null. The power of the former is poor.

There are many published event studies where the null is not rejected. This may be because of the phenomenon being tested but it may also be because of the lack of power of traditional estimators. Hence, rerunning them with the authors' more powerful test is likely to reject some currently well‐accepted null hypotheses of no event effect, stimulating new research ideas. Moreover, as individual stocks have become more volatile, the additional power of the authors' methodology to detect abnormal performance for recent and future events becomes even more important.

There are more than 500 event studies in the top finance journals, which can broadly be split into two subgroups: contemporaneous shocks like changes in regulation and non‐contemporaneous events like mergers. GLS contemporaneous modeling of covariances in the former showed little efficiency gains. The paper's GLS modeling of variances for the latter demonstrates potentially huge effects. Practitioners should be skeptical of prior results accepting the null of no event effect and incorporate GLS to be confident of their future findings.

Given the public availability of secondary data on investments in events such as the Olympics, FIFA World Cup and professional sports, event studies that measure stock market response to these investments have grown. Previous findings are mixed, however, with some studies suggesting that the announcement of sponsorship contracts is a positive event and others finding detrimental effects of the announcement on shareholder value. This study aims to analyze the mixed findings from event studies in sport sponsorship to determine if sponsorship announcements influence stock market response.

The meta-analysis examines more than 20 years of research on event studies in sponsorship (34 studies).

The overall results show a positive, but non-significant effect of partnership deal announcements on shareholder wealth. Further analysis considers the effects of sponsorship announcements by each type of event window to see the impact of the announcement relative to time (pre-announcement, announcement day, post-announcement and pre- to post-announcement). This closer examination of the event window shows that stock prices of sponsoring organizations increased in the pre-announcement window.

Quantitative meta-analytic findings indicate that information about sponsorship deals appears to leak to share markets and positively influence share price. This finding suggests that sponsoring the sports and events found in these event studies is seen as value enhancing for sponsoring firms.

Supply chain structure, characteristics, and applicable policies differ between developing and developed countries. While most supply chain management research is directed toward supply chains in developed countries, the authors wish to explore the financial impact of disruptions on supply chains in a developing country. The purpose of this paper is to highlight the importance of effective supply chain management practices that could help avoid or mitigate disruptions in Indian companies. The authors study the stock market impact of supply chain disruptions in Indian companies. The authors also aim to understand the difference in financial implications from disruptions between companies in India and the USA.

Event study methodology is applied on supply chain disruptions data from Indian companies. The data are compiled from public news release in Indian press. A data set of 301 disruptions for a ten-year period from 2003-2012 is analyzed. Stock valuation of a company is used to assess the financial impact.

The results show that Indian companies on average lose −2.88 percent of shareholder wealth in an 11-day window covering the event day and five days pre- and post-disruption announcement. A significant stock decline was observed as early as three days prior to announcement, indicating possibility of insider trading and information differentials between investors. Irrespective of the location and responsibility of a disruption, companies experience significant negative returns. Company size, book-to-market ratio, and debt-to-equity ratio were found to be insignificant in affecting the stock market reactions to disruptions. The authors also compiled supply chain disruptions data for US companies. When compared to the US companies, Indian companies register a significantly higher stock decline in the event of a disruption.

Supply chain disruptions data from India and the USA are analyzed. Broad applicability of results across countries may require studying other developing countries. The research demonstrates potential effectiveness of investment in supply chain management initiatives. It also motivates research focussed specifically on supply chains in developing countries.

Supply chain decision makers in India could benefit from investment in disruptions management and mitigation practices. The results provide a valuation of effective supply chain management. The findings provide guidance for investors in making decisions when supply chains face disruptions.

The paper studies the financial consequences of supply chain disruptions in a developing country. The study is valuable because of increasing globalization, outsourcing, and the economic role of developing countries.

This paper uses two complementary approaches to estimate the effect of right-to-work (RTW) laws on wages and unionization rates. The first approach uses an event study design to analyze the impact of the adoption of RTW laws in five US states since 2011. The second approach relies on a differential exposure design that exploits the differential impact of RTW laws on industries with high unionization rates relative to industries with low unionization rates. Both approaches indicate that RTW laws lower wages and unionization rates. Under the assumption that RTW laws only affect wages by lowering the unionization rate, RTW can be used as an instrumental variable (IV) to estimate the causal effect of unions on wages. In our preferred specification based on the differential exposure design, the IV estimate of the effect of unions on log wages is 0.35, which substantially exceeds the corresponding OLS estimate of 0.16. This large wage effect suggests that RTW may also directly affect wages due to a reduced union threat effect.

The main purpose of this study is to examine the relationship between ranges of affective components that have an impact on the revisit intention of museum visitors, in the context of a major city event. The study reveals the most significant factors that affect decision-making by applying the findings to a structural equation modelling (SEM) and conditional inference tree (CTree).

The paper utilises face-to-face survey research at the “Long Night of Museums” event in Saint Petersburg, 298 questionnaires were completed on the night of the event. The empirical part of the research is based on the SEM and interpreted by using the CTree. The SEM model measures the direct and indirect influence of the cognitive and affective components; the CTree enables the testing of both component and the joint effect they both produce.

This study shows a strong indirect correlation between the cognitive component of the major city event and the revisit intention of museum visitors. When focussing on affective components, both the SEM and the CTree demonstrated that attractiveness and atmosphere are revealed to be the most impactful elements regarding visitor retention and repeat custom. The research allows for a deeper understanding of visitor behaviours, intentions and their decision-making processes.

The results of the study allow museum managers to understand how to create repeat custom amongst visitors, by appreciating the importance of participation in major city events and the role that attraction and atmosphere play when creating intention for repeat visit. The research has uncovered which dimensions are the most important to visitors, and as a result, these particular dimensions should be thoroughly developed by museums in future in order to attract and repeat visits. This study has demonstrated the practical implications for museums participating in city events. When considering policy makers, this particular research provides an opportunity to develop recommendations for future city events, as well as using the CTree to assess and predict the effectiveness of visitor behaviour.

This is an original study which aims to integrate the impact of the perceived value of the cognitive component and a new range of affective elements regarding museum retention in the context of a major city event. The study includes newly developed dimensions of perceived value, as well as a unique focus on affective dimensions such as – atmosphere and attraction. Another point of originality is provided by using a CTree, which captures an in depth understanding of the intention formation process. This study provides an opportunity to advance our understanding of visitor decision-making processes.

Incivility is widespread in the workplace and has been shown to have significant affective and behavioral consequences. However, the authors still have a limited understanding as to whether, how and when discrete incivility events impact team performance. Adopting a resource depletion perspective and focusing on the cognitive implications of such events, the authors introduce a multi-level model linking the adverse effects of such events on team members’ working memory – the “workbench” of the cognitive system where most planning, analyses, and management of goals occur – to team effectiveness. The model which the authors develop proposes that that uncivil interpersonal behavior in general, and rudeness – a central manifestation of incivility – in particular, may place a significant drain on individuals’ working memory capacity, affecting team effectiveness via its effects on individual performance and coordination-related team emergent states and action-phase processes. In the context of this model, the authors offer an overarching framework for making sense of disparate findings regarding how, why and when incivility affects performance outcomes at multiple levels. More specifically, the authors use this framework to: (a) suggest how individual-level cognitive impairment and weakened coordinative team processes may mediate these incivility-based effects, and (b) explain how event, context, and individual difference factors moderators may attenuate or exacerbate these cognition-mediated effects.

The importance of events for marginalised groups has largely been overlooked within tourism, hospitality and event studies. The purpose of this study is to address this gap, emphasising the positive outcomes of power relationships rather than the negative, which have traditionally been the focus in event studies.

The study investigated eight events for indigenous and ethnic minority groups, rural women, disabled people and seniors in Australia and New Zealand. Qualitative data was collected via participant observation, reflexive ethnography, semi-structured interviews and in-the-moment conversations. An inductive thematic approach was taken to data analysis.

Eight themes around notions of power and empowerment were identified during the analysis: providing a platform, giving/taking ownership, gaining confidence, empowering with/through knowledge, respect, pride and affirmation, freedom to “be” and resistance. These were then viewed through the lenses of social-structural and psychological empowerment, enabling a deeper understanding of power at/through events.

The paper presents a framework for empowerment that enables event organisers to both understand and deliberately plan for the productive use of power, which can reaffirm important event aims, objectives and values. It can also be used by researchers as a framework through which to identify and assess the contributing elements of empowerment at events and by local government to guide policymaking around events.

This study is the first to highlight best practices for the positive use of power at events that “empowers” marginalised groups. Grounded in empowerment theory, the study offers a new lens to reframe notions of power and provides a theoretical framework that will be of value for both critical event studies researchers, event organisers and policymakers alike.