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This study aims to examine the relative effectiveness of functional and financial remedies in influencing customers' negative coping responses in the event of a data breach. It also uncovers the different mediating roles played by customers' feelings of anger and fear in the process of data breach recovery. This study thus differs from the literature, which has primarily focused on the impact of financial compensation and apologies for service failures in face-to-face environments.

Two scenario-based experiments were conducted to empirically validate the model. The authors received 302 copies of the questionnaire, of which 269 were valid.

This study finds that functional remedies are more effective than financial remedies when sensitive information has been compromised, but there is no significant difference between the effectiveness of the two remedies when nonsensitive information has been compromised. In addition, functional remedies influence negative coping behaviors directly and indirectly; the indirect effect is achieved through the reduction of fear and anger. Contrary to the authors' expectation, financial remedies do not have a direct effect on negative coping behaviors; they can indirectly affect negative coping behaviors by reducing anger but do not affect negative coping behaviors by reducing fear.

This study provides key insights into how to manage customer reactions in the event of a data breach, suggesting the use of carefully designed recovery strategies. Companies must attend to customers' specific emotional responses to manage their negative coping behaviors.

This study extends the limited literature on data breach recovery actions by investigating the different effectiveness of functional and financial remedies in the event of a data breach. It also uncovers how functional and financial recovery strategies affect customers' negative coping behaviors by revealing the different mediating effects of fear and anger.

This study aims to investigate the effect of high insider ownership on firms’ internal controls over financial reporting. In particular, it examines how high insider ownership affects the likelihood of an adverse Sarbanes–Oxley Act Section (SOX Section 404) opinion and its subsequent remediation.

Tests of hypotheses use ineffective controls and remediation models. The initial tests in this study use ineffective internal controls over financial reporting probit regression models to investigate how high insider ownership affects the ex-post likelihood of an adverse 404 opinion. Two remediation models – a multinominal probit regression and probit regression model – are used to investigate the effect of high insider ownership on the likelihood of successfully remediating an adverse 404 opinion.

Results show that while the ex-ante likelihood of an adverse SOX Section 404 auditor’s internal control opinion increases with high insider ownership, high insider ownership firms are more likely to remediate ineffective 404 controls. This study rationalizes these diverse findings by asserting that prior to an adverse 404 opinion, entrenched managers avoid internal control financial reporting oversight and monitoring. After an adverse opinion, however, and within the context of an imminent and explicit value reducing 404 opinion, powerful high insider owner managers are motivated to remedy ineffective controls.

This research synthesizes existing streams of literature on insider ownership and the effectiveness of internal control over financial reporting quality to provide new information on the effects of high insider ownership on firms’ internal controls.

There is limited insight concerning a firm’s remedy choice after a product recall. This study aims to propose that failure severity and brand equity are key antecedents of remedy choice and provides empirical evidence for a non-linear relationship between pre-recall brand equity and the firm’s remedy offer that is moderated by severity.

This study uses field data for 159 product recalls from 60 brands between January 2008 to February 2020 to estimate a probit model of the effects of failure severity, pre-recall brand equity and remedy choice.

Firms with higher and lower pre-recall brand equity are less likely to offer full (vs partial) remedy compared to medium level pre-recall brand equity firms. Failure severity moderates this relationship positively, i.e. firms with low and high brand equity are more sensitive to failure severity and then select full instead of partial remedy.

This research reconciles contradictory arguments and research results about failure severity as an antecedent of remedy choice by introducing brand equity as another key variable. Future research could examine the psychological process of managerial decision-making through experiments.

This study increases the awareness of the importance of remedy choice during product-harm crises and can help firms and regulators to better understand managerial decision-making mechanisms (and fallacies) during a product-harm crisis.

This study theoretically and empirically advances the limited literature on managerial decision-making in response to product recalls.

Financial abuse is widely recognised to be an important but under‐reported risk area for vulnerable adults, especially elderly people. This paper provides an introduction to relevant issues, indicators and remedies. It also highlights areas needing further attention both within the professional council and financial systems such as banking.

This paper examines comparative aspects of Arab securities regulation. It provides a general introduction, overviews the aims of securities regulation and the UK regulatory framework, and outlines the obstacles facing equity financing under Shari'a and hindrances to effective Arab securities regulation. It accounts for the major macroeconomic reasons which have enhanced interest in Arab securities markets, examines lack of Arab rules on fraud, insider dealing and possible contractual remedies. It concludes with a case study shedding light on the term ‘securities’ as understood by Article 3 of the 1997 Jordanian Securities Act.

The reviewed literature emphasized that the student loan debt issues have a lot of connections to the economy. This conclusion is in support with broader evidence that high student debt levels are a drag on economic growth. Additionally, disadvantaged and other vulnerable groups, including students, are more likely to be excluded from the formal, regulated financial sector and not be able to take advantage of mainstream financial service providers (e.g. lack access to credit, insurance, and other formal financial services). Among the primary reasons cited for this financial exclusion has to do with a lack of understanding or familiarity with traditional financial services. The aim of this paper is to look at alternate approaches in promoting financial literacy to manage the huge private debt burden facing this important segment of the population. The purpose of this paper is to advance a model of college students’ financial capabilities enhancement to partially alleviate some of the problems related to deficits in financial knowledge among this population. The integrative model provides a framework to be operationalized by institutional decision-makers and policymakers at all levels. The model can be adapted to fit unique institutional circumstances and culture. Successful implementation of the model has the potential to enhance the quality of financial health among college students and young adults.

The manuscript’s aim is to advance a model of college students’ financial capabilities in an effort to prevent their financial exclusion. The proposed model provides a framework to be operationalized by institutional decision-making processes. The model offers six distinct, but inter-related components – antecedent variables, program design and implementation, delivery modalities, program content, behavioral outcomes, and measurement and assessment.

The underlying raison d’etre for the model is to offer a comprehensive, inclusive, across-the-board roadmap to guide universities, and other organizations in conceptualizing, planning, organizing, implementing, and assessing financial education-related systems and processes designed to enhance the long-term financial choices and behaviors of students. Through careful consideration of each of the phases of the model, decision-makers at all levels and all types of organizations should have a stronger grasp of the depth and breadth of actions required to effect the desired changes in students’ financial behavior.

As with any paper there are limitations. The paper is conceptual and lacks data to test some of the linkages. Future research efforts should posit specific propositions to be tested based on the linkages offered in the model. Given the nature of the research theme, there is considerable benefit from taking a case-based approach to future research to offer more in-depth analyses of student financial literacy deficits across different situations and types, student markets, and educational institutions. The current research could also benefit from a stronger cross-cultural focus. While huge college student debt is probably more burdensome in the USA, it is helpful to get input from students in countries that lack a tradition of heavy borrowing to pay for college costs. Researching debt management trends across cultures should provide useful micro- and macro-economic data for policymakers and others.

The paper introduces a model of college students’ financial capabilities enhancement and financial exclusion’s prevention that offers one avenue to partially remedy the direct and indirect ills perpetrated and perpetuated by insufficient financial knowledge among young adults, especially the college segment (i.e. to promote financial inclusion and financial exclusion’s prevention). The model provides a comprehensive and integrative path for college administrators and others to consider when designing programs to enhance the overall financial knowledge acumen and savvy of college students. Specifically, the model discusses antecedent variables, program design and implementation, delivery modalities, program content, behavioral outcomes, and measure and evaluation options.

There is considerable concern among students, parents, marketers, and public policymakers regarding deficiencies in financial knowledge and capabilities among the young adult population. Students have massive student loan debt, collectively, and there is a multifaceted clarion call to develop integrative solutions to this daunting scenario. The paper discusses the gravity and consequences of financial literacy deficits among college students and some associated solutions.

The model offers six distinct, but inter-related components – antecedent variables, program design and implementation, delivery modalities, program content, behavioral outcomes, and measurement and assessment. The model is posited as an “intervention strategy” capable of strengthening the capacity of young college adults to make informed financial decisions, thus impacting their quality of life over the long run. In particular the model offers a form of empowerment to this consumer segment. As stated, the underlying raison d’etre for the model is to offer a comprehensive, inclusive, across-the-board roadmap to guide universities and other organizations in conceptualizing, planning, organizing, implementing, and assessing financial education-related systems and processes designed to enhance the long-term financial choices and behaviors of students. Through careful consideration of each of the phases of the model, decision-makers at all levels and all types of organizations should have a stronger grasp of the depth and breadth of actions required to effect the desired changes in students’ financial behavior.

The purpose of this study is to underline the impact that globalization of financial markets has on national punishment policies. The US financial crisis has strongly affected consumers’ lives, but the focus of this research is on the national provisions against the illegal and unfair behaviour of economic actors, with special regard to a phenomenon that took place abroad, but whose effects came to light in many different countries.

Different methodological approaches, both deductive and inductive, are combined in the present paper, together with comparative and philosophical insights on national Court decisions and scholar writings.

As European Union (EU) member States experts are discussing about a lex mercatoria for the financial markets to govern the EU integration process, this study highlights some questions concerning mainly three aspects: the level of censorship; forms and nature of responsibility; punitive models and their micro- and macro-economic effects.

The study offers insights into the possible answers in terms of criminal and private law remedies to fight financial market abuse in a global dimension, through the use of general principles of contractual and tort law, which are common among EU member State, as culpa in eligendo, culpa in vigilando, duty of information, duty of care, ecc […] .

Enforcement as a concept imports compulsion to comply with a particular norm. Of course, the nature of enforcement might vary considerably with the norm in question or society within which action is desired. Professor Gower, in his ‘Review of Investor Protection’, expressed the view that a rule that could not be or was not enforced brought the system, within which that rule was supposed to operate, into disrepute. Whether this is true or not may be a matter for debate. Most systems of control envisage rules that in practical terms are unenforceable, but that are expected to have a normative or educational effect. Such functions, in the context of securities regulation, may be thought to be of some significance. Thus, the fact that simply because a rule cannot either in its terms or in practice be sanctioned by a predictable and determinate action intended to promote compliance, does not necessarily undermine that rule let alone the system within which it exists. To assume without more that a rule that cannot be enforced is not a legal rule, or to be precise a rule of law, while no doubt appealing enough to the positivist school of jurisprudence, is simplistic and outdated. Furthermore, in the context of the sort of economic regulation that we are discussing, whether a rule is characterised as one of law or not may or may not have significance. While there is a problem with determining the appropriate degree of interface between rules bearing differing qualities, purely in terms of achieving a defined regulatory objective it might well be that a rule which is not law in the formal sense of having been promulgated by an authority with legislative power, promotes a satisfactory degree of compliance. Therefore, many of the rules that pertained prior to the creation of the regime of regulation under the Financial Services Act 1986 were essentially non‐legal in the sense that they did not carry determinate sanctions ordained by a legal process consequent upon a violation and were not promulgated by an authority with legislative power. However, to dismiss them because they were unenforceable at law would give a very false picture of the efficacy of what was for many years a satisfactory regulatory structure. Even today, although the interrelationships of legal and non‐legal rules is very much more complex, it is still the case that significant areas of regulation have been left to non‐legal authorities.

The unfair prejudice remedy as contained in s.290 of the Companies Ordinance 1984 entitles a member with a shareholding of twenty percent or more to petition to the court for suitable and appropriate court orders in circumstances where the member has been unfairly prejudiced. The major difficulties and complexities emerging from the examination of s.290 relates to (but not limited to) locus standi, high cost of litigation due to the length and complexity of the unfair prejudice litigations, lacunas in share valuation, cumbersome court procedures, low quality of pleadings, unethical conduct of lawyers, etc. The purpose of this paper is to shed light on these topical questions. It is contended that the legislature and the courts will have a strong role to play in providing clarity and certainty to the law.

The first part provides a brief overview of the statutory unfair prejudice remedy contained in s.290. The second part discusses the concept of unfair prejudice in the United Kingdom and its difficulties. The third part provides a framework of the unfair prejudice remedies available under s.290 and discusses the inefficiencies and shortcomings of the remedy.

This article concludes that the statutory unfair prejudice remedy in Pakistan is inefficient and inadequate to redress personal and corporate wrongs in an unfair prejudice petition. The deficiencies of the statutory unfair prejudice remedy pose a challenge to the minority shareholders and the overall corporate governance and corporate law regime in Pakistan.

This article sheds light on the complexity and difficulty of the statutory unfair prejudice remedy, as contained in s.290 of the Companies Ordinance 1984 from a comparative law perspective.