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This paper aims to investigate how the US stock market deals with the announcement of a strategic Chapter 11, a special type of corporate bankruptcy in which companies seek the protection of the law not as a last resort but as a planned business decision.

An event study is conducted by using data concerning a group of US publicly traded companies that entered Chapter 11 for both strategic and nonstrategic reasons. Regression analysis is also used for robustness purposes.

This study reveals that initiating both strategic and nonstrategic Chapter 11 proceedings results in negative and statistically significant abnormal stock returns before and at the bankruptcy announcement date. However, in the period following the filing, the market gradually views strategic bankruptcy cases as positive news, whereas nonstrategic Chapter 11 filings continue to be perceived as distinctly negative.

To the best of the author’s knowledge, this is the first paper that documents an asymmetric market reaction to the announcement of Chapter 11, suggesting that, in certain circumstances, managers can add value by filing a strategic bankruptcy.

This paper aims to investigate the factors that influence millennial purchase behaviour, brand choice and distribution channel selection in an evolving technology-driven environment.

The study was exploratory, using qualitative methods of personal interviews and some ethnographic observations to collect data from 585 millennials from ten cities in nine African countries.

Findings from the study confirm and support the critical role of e-commerce in facilitating millennials engagement with brands, highlighting how brand purchases are integral to their lifestyle choices. There is an overwhelming confirmation of the importance of influencer marketing and social media in shaping purchase decisions, with new insights into the role of local micro-influencers and social networks. The findings from the study highlight the pivotal role of a brand’s country of origin in influencing millennials’ brand preferences. The study supports and advances insights into the importance of online shopping and diverse factors influencing millennials’ selection of distribution channels.

There is an opportunity to leverage the growing mobile telephone penetration and social media usage to develop innovative integrated marketing communications strategies. There are opportunities for co-creating marketing communication campaigns with millennials in different settings. These are outlined in the practical implications section.

The paper is based on original empirical data collected from ten countries and explores the behaviour of a growing but under-researched segment of millennials in Africa.

The purpose of this study is to compare measurement scales of sports fans’ motivations applied to women’s football.

A survey research approach was used to collect 574 valid responses from participants in Brazil and the USA. Three prominent scales – Sport Interest Inventory (SII), Sport Fan Motivation Scale (SFMS) and Motivation Scale for Sport Consumption (MSSC) are were compared using the structural equation modeling technique.

The results indicate that the SII scale demonstrates superior predictive power for variables such as “purchase intention,” “electronic word of mouth,” “identification as a fan” and “interest in women’s football” compared to the SFMS and MSSC scales. The primary motivation among followers and spectators of women’s football in the study was “supporting women’s opportunities” in sport.

While the study is grounded in the most relevant scales pertinent to the theme, the limited academic production on the subject hinders direct comparisons with prior research.

Leveraging the insights from the SII scale, football team managers can refine their marketing strategies by understanding the primary motivations driving women’s football consumption. This knowledge can inform targeted efforts to enhance women’s football consumption, subsequently expanding opportunities for women in the sport.

This study provides valuable information that can inform initiatives aimed at boosting women’s soccer consumption, thereby contributing to increased opportunities for women in the sport.

To the best of the authors’ knowledge, this study represents the first attempt to compare scales in the specific context of women’s soccer, contributing with a unique perspective to the development of women’s sports.

This study aims to examine the ability of independent directors to discipline related-party transactions (RPTs) among listed companies in Malaysia. Firms typically appoint independent directors individually, not as a group. However, board members are commonly viewed collectively as a group, and evidence of the abilities of individual directors is scarce.

The attributes of individual independent directors include accounting literacy, length of service, audit committee membership and active participation in board and audit committee meetings. The unit of analysis is the individual independent director. The final sample consists of 1,552 observations in 2017, and RPTs are categorized as either efficient or conflicting.

The study finds that the tenure of individual independent directors and active participation in board meetings affect the firm’s engagement in RPTs. However, the financial literacy, audit committee membership and attendance of independent directors at audit committee meetings do not affect the firm’s engagement in RPTs, either efficient or conflicting. Overall, this result offers limited support for the upper-echelon theory concerning the attributes of individual independent directors and RPTs.

This study uses cross-sectional observations for 2017, which predates the COVID-19 pandemic. Thus, this study ignores the impact of restrictions in community mobility during the pandemic on the independent director’s ability to monitor the corporation. This circumstance may have implications for practice and merit further research.

The findings provide information for board nominating committees, regulators and policymakers that the capability of individual independent directors to fulfill their responsibilities is limited. The firm’s nominating committee must be very selective in nominating and appointing independent directors with appropriate competencies. Investors should choose companies that have reappointed the same independent directors for an extended period, as they may benefit from the experience in protecting investors’ interests.

This paper contributes novel evidence to upper-echelon theory literature on the association between independent directors and RPT types from the perspective of individual independent directors.

This paper aims to explore the determinants of the level of minibonds issued by companies. In doing so, it discusses the importance of minibonds in providing a market-based funding source. In the empirical analysis, special attention is paid to the study of the recovery from the COVID-19 crisis.

The analysis is carried out through an econometric approach, on the basis of a high-quality empirical dataset related to the Italian small- and medium-sized enterprises (SMEs). The reference period covers the recent pandemic. From a theoretical point of view, a regression model is implemented, including a multicollinearity analysis and an outlier detection procedure.

The results of the study indicate that factors such as leverage, cash flow, firm collaterals and seniority can explain the amount of minibonds issued. These findings provide valuable insights into the drivers of minibond issuance and highlight the potential benefits of minibonds as a funding option for Italian SMEs.

Importantly, results highlight relevant managerial implications at two levels. On one side, we carry on a managerial discussion about the worthiness of accessing the minibonds market; on the other side, we give insights on the managerial implications related to the features of the companies issuing minibonds.

The paper investigates an innovative financial instrument that has been introduced recently and has not yet been studied in depth. To the best of our knowledge, this is the first contribution assessing the main drivers for minibonds issuance level, which is a timely and relevant managerial research topic. In addition, this study also takes into account the impact of the COVID-19 pandemic on minibond issuance, making the analysis appropriate for explaining the current economic context.

Guided by resource-based theory, this study unpacks the relationship between an export entrepreneurial marketing orientation (EMO) and export performance. This is undertaken by investigating quadratic effects and the moderating role of export coopetition (cooperation amongst competitors in an international arena).

Survey responses were collected from a sample of 282 smaller-sized wine producers in Italy. This empirical context was ideal, as it hosted varying degrees of the constructs within the conceptual model. Put another way, it was suitable to test the underlying issues for theorising purposes. The hypotheses and control paths were tested through a three-step hierarchical regression analysis.

An export EMO had a non-linear (inverted U-shaped) association with export performance. Furthermore, this link was positively moderated by export coopetition. With too little of an export EMO, small enterprises might struggle to create value for their overseas customers. With too much of an export EMO, owner-managers could experience harmful performance outcomes. By cooperating with appropriate industry rivals, small companies can acquire new resources, capabilities and opportunities to help them to boost their export performance. That is, export coopetition can stabilise some of the potential dangers of employing an export EMO.

The empirical findings signified that an export EMO has potential dark-sides if these firm-wide behaviours are not implemented effectively. Nevertheless, cooperating with competitors in export markets can alleviate some of these concerns. Collectively, unique insights have emerged, whereby entrepreneurs are advantaged by being strategically flexible and collaborating with appropriate key stakeholders to enhance their export performance.

In their study of reciprocity in investigative interviews, Matsumoto and Hwang (2018) found that offering interviewees water prior to the interview enhanced observer-rated rapport and positively affected information provision. This paper aims to examine whether tailoring the item towards an interviewee’s needs would further enhance information provision. This paper hypothesised that interviewees given a relevant item prior to the interview would disclose more information than interviewees given an irrelevant item or no item.

Participants (n = 85) ate pretzels to induce thirst, engaged in a cheating task with a confederate and were interviewed about their actions after receiving either no item, an irrelevant item to their induced thirst (pen and paper) or a relevant item (water).

This paper found that receiving a relevant item had a significant impact on information provision, with participants who received water providing the most details, and significantly more than participants that received no item.

The findings have implications for obtaining information during investigative interviews and demonstrate a need for research on the nuances of social reciprocity in investigative interviewing.

The findings have implications for obtaining information during investigative interviews and demonstrate a need for research on the nuances of social reciprocity in investigative interviewing.

To the best of the authors’ knowledge, this study is the first to experimentally test the effect of different item types upon information provision in investigative interviews.

This study aims to stimulate scholarly attention and practical application pertaining to individuals recognized as “Docs.” Through conducting a comprehensive analysis and acquiring a profound understanding of its many connotations, the objective is to shift attitudes and approaches concerning those who are seen to possess knowledge and value within society.

For this study, culturally relevant pedagogies were used as theoretical frameworks in addition to Sankofa and concept explication being used as methodologies.

The authors identified three themes: (1) honorary cultural practice-community nomination of “professahs” and “docs,” (2) (Black) robinhoods – cultural signifiers of distinction and relatability and (3) docs as catalysts – elevating community via consciousness, trust and mentorship as significant understandings of this distinction.

The study emphasizes the importance of “Docs” in both academic and social contexts. The role of “Docs” serves to alleviate potential conflicts of being a Black intellectual. This study further reveals the ways in which Docs align with, promote or possibly undermine established frameworks of thought. Finally, this study provides institutions with opportunities to consider strategies for the utilization, recognition and integration of individuals who are frequently overlooked or undervalued.

Consumer choice theory (CCT) and the law of diminishing marginal utility help to explain shoppers that value less and prioritize needs. Additional units provide a marginal return on investment. Buying more does not mean equivalent gains for additional money spent. The researchers developed and validated the necessity shopper scale (NSS) to study need-focused shoppers.

The researchers followed standard psychometric practices to create and validate the NSS. The researchers performed item development, data collection, exploratory analysis, confirmatory factor analysis, and predictive validity analysis using survey data (N = 1,266).

Discriminant and convergent validity analyses demonstrated that the measure was distinct from existing measures. Predictive validity analysis found necessity shoppers (NS) are more likely to buy one over buy one get one half off (BOGOHO). NS were associated with a higher connection to community/group (CTCG). Higher hyperopia (i.e. disinclination to indulgence) with necessity shopping beliefs heightened this CTCG. A higher CTCG was associated with a greater likelihood to select BOGOHO.

NS (more connected to others) buy more to share with others, while buying just enough for themselves. Social connections are long-term investments involving more people and more needs to fulfill. Brands marketed with communal values and able to enhance social connections are discussed as implications to encourage NS to buy more.

A major portion of our social interaction now occurs online, facilitated by social networking sites (SNSs) that enable people to connect and communicate at will. However, the characteristics of SNS communication can introduce problematic outcomes on otherwise healthy processes, one of which is social comparison. In this work, we investigate whether compulsive SNS use could be driven by two phenomena related to social comparison: the fear of missing out (FoMO) and envy.

Using the stimulus-organism-response framework, we developed a model that was tested with data from a sample of SNS users (N = 330) based in the United States. The analysis was done through partial least squares structural equation modeling.

Our findings show FoMO's association with the two forms of dispositional experienced envy, benign and malicious, as well as expected envy of others (expected envy). Interestingly, benign and expected envy were associated with SNS stalking and self-disclosure, but malicious envy had non-significant associations. Finally, both SNS stalking and self-disclosure were linked to compulsive SNS use.

We study the nuanced ways in which the two forms of experienced envy and expected envy can be triggered by FoMO and result in users' engagement with problematic SNS use. Our research provides evidence that, in addition to benign envy being an antecedent of compulsive SNS use, the wish to invoke envious feelings in others can also significantly drive compulsive use.