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The purpose of this paper is to explore consumer patronage of extreme value retailers in the USA.

The paper employs a sample generated from Retail Forward panel data (n=1,107) to explore consumer patronage of extreme value retailers. Descriptive statistics and decision tree analysis chi‐square automatic interaction detector is used to evaluate the data.

The paper examines extreme value shoppers based on patronage frequency, expenditures, and primary reason for shopping in the extreme value format. Results suggest that although patronage frequency of extreme value stores is not increasing, expenditures for food/household essentials are increasing. Demographic characteristics (income and age) are revealed as predictors of the primary reason for patronizing the format.

Generalizations of the findings of this paper to markets outside the USA are limited due to the differences in consumers and retail formats available in various countries. Future research could investigate additional patronage motives of extreme value shoppers, predict propensity to shop in the format, and compare changes in the customer base over time as a response to changing economic conditions.

The findings of this paper provide extreme value retailers with information on patronage frequency, expenditure, and patronage motivations among extreme value shoppers. The results offer support for the development of competitive strategies within the extreme value segment. As competition in the retail industry continues to evolve and new retail formats emerge, understanding shoppers' reasons for patronizing extreme value retailers will be critical to performance.

This paper is unique because of the lack of attention to extreme value shoppers in the extant literature.

Recent studies on the securities market’s differential pricing of earnings components have shown that cash flow from operations is more highly valued than total accruals and that moderate cash flow from operations has higher valuation than extreme total accruals. An interesting question that follows is whether these findings hold regarding the differential valuations of cash flow and current accruals. This study aims to extend prior research by addressing this issue in two ways. First, the authors examine the incremental information content of cash flow from operations beyond working capital from operations. Second, the authors assess the effect of extreme working capital from operations on the incremental information content of cash flow from operations. This study aims to extend prior research by addressing this issue in two ways.

This study adopts market-based accounting research to test its hypotheses and to achieve its objectives. Specifically, this study uses statistical associations between accounting data and stock returns to examine the incremental information content (value relevance) of cash flow and working capital from operations and the effect of extreme working capital from operations on the incremental information content of cash flow.

The results show that cash flow from operations is not more highly valued than current accruals (both being valued equivalently). However, moderate cash flow from operations has higher valuation than extreme current accruals (each is valued differently). Overall, these research findings indicate that cash flow becomes more important for valuation as accruals get “extreme”.

As accruals are unlikely to persist to be permanent across the years, these results can be interpreted as indicating that cash flow and accruals information are used jointly by investors, with one being more important than the other depending on the relative “extremeness” of each. Therefore, both are of value to the investor and both should be reported.

The paper contributes to the UK research on determining the preferred level of disaggregation of earnings components, i.e. operating cash flow, current accruals and non-current accruals. This would help investors to improve their investment and credit decisions.

In this study, the authors examine the push and pull effects of extreme weather events on migration among governorates in Egypt.

To estimate the effect of extreme weather events on internal migration, the authors use migration gravity models and data from the 1996 and 2006 Population and Housing Censuses. The authors measure weather extremes by the number of months in the past 36 months with temperatures or precipitation of a governorate below the 5th percentile and above the 95th percentile of the distribution of monthly temperatures or precipitation of the corresponding governorate during the period 1900–2006.

This study’s results suggest that high temperatures in the origin area act as a push factor. High-temperature extremes have a positive effect on out-migration. A 1% increase in the number of months with high-temperature extremes in the original governorate results in a 0.1% increase in the number of out-migrants.

The study suggests that people may respond to weather extremes through migration. However, climate migrants in Egypt may encounter several significant risks that authorities must address.

This study is one of the first attempts to measure the push and pull effect of weather extremes on migration in Egypt.

This study investigates the mediating role of organizational change capacity (OCC) in the relationship between the perception of extreme contexts and firm product and process innovation, which was not empirically investigated in the literature. In addition, this study explores the moderating role of the perception of extreme contexts-related variables, which were not operationalized in ordinary firms, on the relationship between OCC and firm product and process innovation.

A questionnaire-based research was conducted to test the suggested hypotheses. The data were gathered from 90 firms during the peak period of COVID-19.

This study shows that OCC, which covers contexts, process and learning dimensions, fully mediates the relationship between the perception of extreme contexts and firm product and process innovation. Also, this study discovers that the perception of extreme contexts, including temporal ordering of extremity, the magnitude of consequences, proximity among people and operational deficiencies, positively moderate the relationship between OCC and firm product innovation.

This study has constraints inherited in survey design, primarily sampling and country context.

This study identifies, conceptualizes and operationalizes the term extreme context, conceptually argued for particular organizations/units in ordinary/mundane organization settings so far. In addition, this study extends the current understanding of how the perception of extreme contexts interacts with a firm's capability to increase innovation efforts. Further, this study shows how OCC mediates the relationship between extreme contexts and firm product and process innovation.

Recent studies on the securities market's differential pricing of earnings components indicate that cash flows from operations are valued more highly than extreme total accruals. However, no previous study has examined whether cash flows from operations have a higher valuation than moderate total accruals. Therefore, this study examines the securities market's differential pricing of cash flows from operations and both moderate and extreme total accruals.

The study's sample is divided into two sub-samples: a moderate total accruals sub-sample; and an extreme total accruals sub-sample. To evaluate whether cash flows have a higher valuation when compared to total accruals, for the entire sample and for each of the two sub-samples, the study examines the statistical significance of the difference between slope coefficients of cash flows and total accruals for regression of returns on both unexpected cash flows from operations and unexpected total accruals.

Consistent with prior research, results from the entire sample show a differential higher valuation of cash flows when compared to total accruals. Another finding, consistent with recent studies, is that cash flows from operations have a higher valuation when compared to extreme total accruals. However, there is no higher differential valuation of cash flows over moderate total accruals. These findings support the decomposition of earnings into the components of cash flows from operations and total accruals only when total accruals are extreme (rather than moderate).

A possible explanation for these results is that since accruals predict cash flows, total accruals – when moderate (i.e. not extreme) – are priced similarly to cash flows. These results reveal that when total accruals are moderate, earnings are a better proxy for the underlying cash flows (over the entire future horizon, not just the current period) than is cash flows. However, since total accruals are unlikely to persist in a permanent way over the years, these results indicate that the decomposition of earnings into the components of cash flows from operations and total accruals is consistent with the information set used to value equity securities. Therefore, separate disclosure of cash flows is value relevant. In addition, users of financial statements certainly need the cash flows information as an ex-post validation of the prior earnings.

This study's contribution stems from its determination of the preferred level of disaggregation of earnings components (i.e. operating cash flows and total accruals). This is expected to help investors in their attempt to enhance the outcome of their informed investment and credit decisions.

In contrast to earlier studies, the most recent studies on the incremental value relevance of earnings and cash flows from operations find that both earnings and cash flows have incremental value relevance beyond each other. An interesting question that follows is whether these findings hold after controlling the extremity of earnings and cash flows. This study, therefore, aims to examine the incremental value relevance of earnings and cash flows in the following four cases: moderate earnings and moderate cash flows, moderate earnings and extreme cash flows, extreme earnings and moderate cash flows and extreme earnings and extreme cash flows.

To evaluate the incremental value relevance (information content) of earnings and cash flows for each of the four cases mentioned above, we examine the statistical significance of the slope coefficients for regression of returns on both unexpected earnings and unexpected cash flows from operations.

The results show that (i) both moderate and extreme earnings have incremental value relevance beyond both moderate and extreme cash flows, (ii) moderate cash flows have incremental value relevance beyond both moderate and extreme earnings and (iii) extreme cash flows lack incremental value relevance beyond moderate earnings; however, they (extreme cash flows) have incremental value relevance beyond extreme earnings. These results suggest that earnings and cash flows have incremental value relevance. However, only in cases when cash flows are extreme and earnings are moderate, cash flows do not possess incremental value relevance. In further analysis, we find that the value relevance for cash flows and earnings decreases when they are extreme and transitory. Moreover, the value relevance for cash flows increases when they are moderate (not extreme) and the other competing measure (earnings) is transitory and extreme.

The results support the idea that earnings and cash flows from operations complement each other in explaining variation in returns. However, when cash flows are extreme and less informative, investors rely more on earnings in firm valuation, especially when earnings are moderate. Because earnings are unlikely to persist to be permanent across the years, these results can be interpreted as indicating that cash flows and earnings information are used jointly by investors.

In contrast to previous studies, we control for the extremity of earnings and cash flows when evaluating the incremental value relevance of earnings and cash flows from operations.

Disasters of catastrophic scope and scale have occurred more frequently in recent years. Governmental and non-governmental response management has struggled, and affected communities have severely suffered during extreme events. Colossal damage and loss of lives have been inflicted, and the recovery efforts require extended periods of time. In post hoc analyses, actionable information has been found a critical resource requiring resilient information infrastructures (RIIs) that do not break down even under extreme duress. RIIs encompass both tangible and less tangible (for example, social) elements. The purpose of this paper is to pave the way for empirical research on the subject and to conceptually develop a framework for the analysis of information infrastructures and their resiliency, when impacted by catastrophic incidents (also known as extreme events).

The authors review the literatures of disaster research and related fields. They synthesize the literatures from the information perspective and develop a framework of RII.

The synthesis revealed that extreme event-ready RIIs have to be redundant and resourceful both in terms of social, organizational, and knowledge assets as well as in the information and communication technologies. RIIs combine tangible and non-tangible elements, whose interplay is so far incompletely understood.

Roles and criticality of RIIs under the impact of an extreme event need to be studied empirically.

The study holds the promise to be of great potential utility for responders and recovery managers as well as affected communities in preparedness, response, recovery, and mitigation efforts as timely and actionable information is still the scarcest and most sought resource during a catastrophic incident.

Disaster research so far has mostly focused on the technical, organizational, social, and socio-psychological effects of disasters. The authors are adding the information perspective as a unique and distinctive contribution to extreme event research, which connects the tangible elements of information infrastructures with its not so tangible elements, captures their interplay, and analyzes their role and criticality for the resiliency of the information infrastructures when under extreme duress.

The purpose of this paper is to demonstrate how experiences, sport careers and biographic variables predict: enjoyment, satisfaction and memories from the unique and spectacular Extreme Sport Week (Ekstremsportveko), Voss, Norway, as reported by the extreme sport athletes.

An electronic questionnaire was distributed to all participants during 2011, and collected responses from 292 athletes (27 per cent response rate). Data were analysed by frequencies, mean values, correlations and multiple regression.

Extreme sport athletes were typically amateurs with serious leisure careers. Social ties between participants and volunteers were found. They had positive experiences at the event, and the realms of education, aesthetics and entertainment were the strongest predictors of enjoyment, satisfaction and memories. Level of excitement augmented the explained variance, especially when predicting memories. Most participants intended to re-visit future Extreme Sport Weeks.

The moderate response rate warrants generalisations from the study. As the study is cross-sectional, cause-effect relationships cannot be established.

For event organisers, the study shows the athletes’ appreciations with its managerial implications.

The Voss area is highly appreciated for its natural beauty and extreme sport resources, and re-visits are likely to occur, hence contributing to its growth as extreme sport venue and to sport tourism.

This study is the first to explore the experiences of athletes who participated in the unique and spectacular event Extreme Sport Week. For researchers and practitioners, it is an example of how to measure experiences and their outcomes of (extreme sport) events.

Many studies examine the relative information content of earnings and cash flows from operations. Most studies find that earnings have higher information content than cash flows. An interesting question that follows is whether these findings hold after controlling the extremity of earnings and cash flows. The purpose of this paper is to examine the relative information content of earnings and cash flows in the following four different cases: first, moderate earnings vs moderate cash flows, second, extreme earnings vs moderate cash flows, third, moderate earnings vs extreme cash flows, and fourth, extreme earnings vs extreme cash flows.

To assess the relative information content of earnings and cash flows for each of the four cases mentioned above, the authors compare the explanatory power for regression of returns on unexpected earnings relative to regression of returns on unexpected cash flows. Therefore, the author compares the adjusted R2 of the model with earnings variables and the model with cash flows variables using Vuong's test, that examines the statistical significance of the difference between adjusted R2s of the rival (non-nested) models, and interpret a statistically higher adjusted R2 as an indicator for higher relative information content.

The results show that: first, when both earnings and cash flows are moderate, earnings are more highly associated with stock market price changes than cash flows, second, when both earnings and cash flows are extreme, earnings also have greater relative information content than cash flows, third, when the extremity differs between earnings and cash flows, the moderate variable is superior to the other extreme variable in explaining security returns. These results suggest that earnings are definitely more value relevant than cash flows. However, only in cases when cash flows from operations are moderate and earnings are extreme, cash flows possess higher information content than earnings.

The explanatory power for stock returns will be higher for earnings or cash flows depending on which is more highly persistent. This result reverses the conventional finding of the superiority of earnings over cash flows in explaining security returns.

In contrast to previous studies, the authors control for the extremity of earnings and cash flows when evaluating the relative information content of earnings and cash flows from operations.

This study aims to verify the following hypothesis: People with extreme opinions post on social media more than those with moderate opinions.

A social media posting model was constructed to estimate the influence of extreme opinions on the number of social media posts in Japan, Korea and the USA. For a quantitative verification, data from 5,095 questionnaire surveys were regressed using a Tobit model.

Extreme opinions were found to increase the number of social media posts in all three countries and for both surveyed topics (constitutional amendment in Japan and increasing number of foreigners in Japan, Korea and the USA). Furthermore, the higher the interest in the topic, the greater the effect. The hypothesis was thus supported.

The survey was conducted online, and the sample size in Korea and the USA was smaller than in Japan. The topics were limited to two, and only three countries were included.

People should use social media knowing that there are numerous extreme views online. Companies that provide social media platforms should consider measures to ensure that users are not exclusively exposed to extreme opinions.

This research conducts a quantitative analysis on the effects of opinion extremity on social media posting behavior and the resulting bias in online opinion distribution, a topic on which there is scant prior research.

The peer review history for this article is available at: https://publons.com/publon/10.1108/OIR-07-2020-0310.