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The last two years are characterized by record numbers of initial public offerings (IPOs), foreign investor abstinence and rising retail investor appetite in the Turkish stock market. This study aims to investigate whether retail investor dominance coupled with foreign investor aversion has significant impact on initial and short-term returns.

The research covers the population of 188 companies going public at Borsa Istanbul from 2010 to the end of 2021. Three hypotheses are developed and tested by means of ordinary least squares and Tobit regressions to examine the association between investor allocations and returns. A new measure for retail investor trade size, average retail investment per capita (ARI) is utilized to explain the linkage between retail investor appetite and short-term returns. Two-stage least squares and Heckman selection regressions are employed for robustness tests to address potential endogeneity.

Pandemic IPOs provide significantly larger short-term returns than pre-pandemic IPOs measured up to one month. Underpricing during the pandemic is not significantly greater due to 10% daily price limit, which leads to a gradual release of retail investor appetite and increase in stock prices in the short term. Retail investors control 66% of the market during the pandemic compared to 35% before, while foreign institutional investor market share declines from 53% to 6%. Average retail investor number in an offering increases by 55.4-fold during the pandemic, resulting in substantially smaller allocations to the average individual investor. Greater returns during the pandemic are associated with smaller retail investment per capita, while domestic institutional investment is associated with lower returns as typically expected from institutional investors, although its significance disappears after controlling for potential endogeneity.

This study investigates returns up to one month. To better understand whether short-termism of retail investors and recent foreign investor aversion have detrimental effect on companies, and on the market as a whole, longer-term studies are needed. This is not possible at the current stage since not enough time has passed.

This research is relevant to emerging market investors and companies due to the ongoing foreign investor aversion and fast-changing market conditions. The research cautions market participants against the short-termism of retail investors and urges policymakers to regain investors with longer investment horizons.

Many newcomer retail investors are in the stock market due to lack of more profitable alternatives in Turkey. Although their participation is accompanied by larger short-term returns for the time being, the current momentum is unlikely to last long as the pandemic ends, and interest rates around the world begin to be raised. The study urges small investors to invest in a more informed manner and aim for longer time horizons, as it may not be possible to make a quick profit in the stock markets in the near future.

This is the first study to investigate changing investor profile in emerging markets and its impact on returns following pandemic declaration. The question is important because the investor composition affects the investment horizon in the market.

The purpose of this paper is to understand the post-COVID-19 fluctuations in the building construction demand from various angles at the national, regional, and sectoral levels. Despite the significant impact of COVID-19 on the building construction industry, a detailed quantitative analysis of the COVID-19 impact on the building construction demand is still lacking. The current study aims to (1) establish a statistical approach to quantify the COVID-19 impact on the building construction demand; (2) investigate the post-COVID-19 fluctuations in the construction demand of different building services, regional markets, and building sectors using the historical time series of the architecture billings index (ABI); and (3) identify vulnerable market and sector and discuss the post-COVID-19 recovery strategies.

The research methodology follows four steps: (1) collecting national, regional, and sectoral ABIs; (2) creating seasonal autoregressive integrated moving average models; (3) illustrating cumulative sum control charts to identify significant ABI deviations; and (4) quantifying the post-COVID-19 ABI fluctuations.

The results show that all the ABIs experienced a statistically significant decrease after COVID-19. The project inquiries index reduced more but recovered faster than billings and design contracts indices. The midwest billings index decreased the most among the regional ABIs and the commercial/industrial billing index dropped the most among the sectoral ABIs.

This study is unique in the way that it utilized the ABI data and the approach using SARIMA models and CUSUM control charts to assess the post-COVID-19 building construction demand represented by ABI fluctuations.

This study aims to analyze how, under the stakeholder theory, corporate social responsibility (CSR) might favor the emergence of circular economy (CE) in the Agri-food sector, which is a relevant context, as it is technologically dynamic and requires paying attention to all the stakeholders.

An exploratory, qualitative research design has been adopted to study the phenomenon in detail, as it facilitates the understanding of complex phenomena such those under investigation and helps enrich existing theory with new insights from real-world cases to add theoretical generalizations to the existing body of research in the field.

The results of this study highlight that companies adopting CSR models are oriented toward circularity.

This study provides useful indications to managers and policymakers as to how to favor the two approaches (CSR and CE) and benefit all the stakeholders.

While there is wide scholarly and managerial interest toward CSR and CE, previous research has mainly analyzed CE and CSR as two independent phenomena. Therefore, there is a lack of understanding about how the two areas are linked. Following previous studies that have started to theoretically argue an interconnection between CSR and CE, in this research, it has been empirically investigated, and further explored theoretically, whether CSR can implicitly encourage the emergence of CE approaches.

The paper aims at assessing the role of the different stages of the employment process in gauging workers' willingness to upskill themselves at the end of a seasonal employment contract by investing in further training.

The paper analyses data from a dedicated survey administered to a sample of seasonal employees. Through a regression analysis it explores the different stages of the employment process (job search, selection on the job activities), making a distinction between monetary and nonmonetary components of the investment in training.

Results show that all stages matter, but they do not have the same importance. Ex-ante motivations and work experience, notably the level of perceived workload and organizational commitment, are the main factors affecting workers' willingness to acquire industry-specific skills through training.

So far, the literature has extensively dealt with the poor levels of training in seasonal employers, but it did not analyse worker’s willingness to invest in training over the different stages of the worker experience. This paper fills this gap by separately testing the relative importance of such stages and identifying the most important phases of the employment process.