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This study examines the effect of stock liquidity on the magnitude of the accrual anomaly.

This paper examines the relation—both time-series and cross-sectional—between stock liquidity and the magnitude of the accrual anomaly and use the 2001 minimum tick size decimalization as a quasi-experiment to establish causality.

There is both cross-sectional and time-series evidence that stock liquidity is negatively related to the magnitude of the accrual anomaly. Moreover, the extent to which investors overestimate the persistence of accruals decreases with stock liquidity. Results from a difference-in-differences analysis conducted using the 2001 minimum tick size decimalization as a quasi-experiment suggest that the effect of stock liquidity on the accrual anomaly is causal. The findings of this study are consistent with the enhancing effect of stock liquidity on pricing efficiency.

The study's findings are well aligned with the mispricing-based explanation for the accrual anomaly, suggesting that the improvement in market-wide stock liquidity drives the contemporaneous decline in the magnitude of the accrual anomaly, at least to a great extent.

This paper examines the relationship between poison pills, real earnings management and initial public offering (IPO) failure.

The authors sampled 2,997 IPO firms that went public during 1993-2015.

The authors find that IPO firms manipulate earnings upward using real earnings management. The authors also find that IPO firms exhibiting a higher level of real earnings management have a higher probability of IPO failure. In addition, the authors find that weak shareholders' governance is positively associated with IPO failure.

These results suggest that poor governance structures in failed firms open the door to manipulating real activities and increasing operational risk.

The study findings are of most significant interest to potential investors and other stakeholders affiliated with a firm going public, an auditor, an underwriter, the lawyers who consult with the firm and employees or executives who might consider joining that firm.

This study examines the relation between the presence of analysts’ long-term growth (LTG) forecasts and the post-earnings-announcement drift (PEAD).

Using a sample of firm-quarters from 1995 to 2013, the author conducts various regression analyses.

The author finds that the magnitude of PEAD is significantly smaller for firms with LTG forecasts. The relationship holds after controlling for a wide range of explanatory variables for PEAD returns or for the presence of LTG forecasts. The author further investigates three nonexclusive hypotheses to explain this relationship. First, LTG forecasts may convey incremental value-relevant information that facilitates investors’ processing of short-term earnings information. Second, the presence of LTG forecasts may indicate superiority in analysts’ short-term forecast ability and identify firms with more efficient short-term forecasts. Third, the presence of LTG forecasts may be associated with cross-sectional differences in the persistence of earnings surprises. The author finds that none of these fully accounts for the negative relationship between the presence of LTG forecasts and PEAD returns. Instead, the relationship may be a result of the presence of LTG forecasts capturing some unobservable firm characteristics beyond those identified in prior studies.

This study contributes to the PEAD literature by identifying a novel analyst-based predictor of the cross-sectional variation in PEAD returns.

The purpose of this paper is to explore the effective taxonomies of airline green operations strategy.

To this end, a sample of 23 airlines from five regions (North America, South America, Europe, Asia and the Middle East) was surveyed. The annual sustainability reports of the surveyed airlines for the period 2013‒2016 were retrieved from the Global Reporting Initiatives website. K-means clustering analysis was used to generate taxonomic clusters of airline green operations strategy. A special data analysis technique, called rank analysis, was also adopted to identify the significant green actions and develop indicative models.

This study revealed that three effective taxonomies were adopted by airlines: a low-effect strategic pattern, a low-to-moderate effect strategic pattern and a high-effect strategic pattern. A different combination of green operation actions characterized each strategic pattern.

The research contribution of taxonomies of green operations strategy has so far been limited, country focused and concentrated on the manufacturing sector. This study reported the taxonomies and performed an in-depth analysis of the categories of effective actions taken to promote green performance. Moreover, this study developed indicative models for the relationship between categories of action and green performance for each strategic pattern, an action that has seldom been reported by previous studies of green operations strategies for airlines.

This study aims to focus on the development of an experimental setup for testing tribological pairings under a gas atmosphere at pressures up to 10 bar.

A pressure chamber allowing oscillating movement through an outer shaft was constructed and mounted on an oscillating tribometer. Due to a metal spring bellows system, a methodology for the evaluation of the coefficient of friction values separately from the spring forces was developed.

The selected material concept was qualitatively and quantitatively assessed. An evaluation of the static and the dynamic coefficient of friction was performed, which was crucial for the understanding of the adhesion effects of the tested material pairing. The amount of information that is lost due to averaging the measured friction values is higher than one would expect.

The developed experimental setup is unique and, compared with the existing tribometers for testing under gas ambient pressures, allows testing under contact conditions that are closer to real applications, such as compressors and expanders. An in-depth observation of the adhesion and stick–slip effects of the tested material pairings is possible as well.

The peer review history for this article is available at: https://publons.com/publon/10.1108/ILT-06-2023-0173/

The purpose of this study is to examine the moderating role of the characteristics of the chief executive officer (CEO) on the association between CEO power and corporate social responsibility (CSR) performance.

This paper conducts multiple regression analyses to empirically test the proposed hypotheses based on a sample of US-based publicly held companies. The sample period extends from 2000 to 2018. Firm-level CSR ratings are obtained from the Kinder, Lydenberg and Domini (KLD) database (currently known as MSCI ESG STATS). Financial data and CEO data are retrieved from Compustat and ExecuComp databases, respectively. Additional test and robustness analysis are performed.

This paper shows that firms with more powerful CEOs are less likely to engage in CSR activities. The negative association between CEO power and CSR is found to be exacerbated by CEOs who are younger, more competent and overconfident; however, this negative association is mitigated by CEOs who are female. This paper also finds that gender plays a more important role among CEO characteristics. Collectively, the findings highlight the potential opportunities to better understand the role of various CEO characteristics that jointly affect CSR.

First, this is the first study providing a comprehensive empirical analysis of how various CEO characteristics jointly affect CSR. Prior studies that focus on standalone CEO characteristics offer an incomplete picture of the relation between a single CEO characteristic and a firm's CSR performance. The current study thus extends the research field by examining the association between seemingly unrelated CEO characteristics and CSR performance. The results also highlight that gender is the critical factor moderating the relationship between CEO power and CSR performance when it is compared with CEO age, ability and overconfidence. Second, the authors add to the literature on employee selection by showing that female CEOs mitigate the negative effect of managerial power on CSR performance. Although the currently available empirical research in management control systems focuses on ex-post analyses of moral hazard mitigation for incumbent employees, both the economics and management literature acknowledge ex ante evidence suggesting that employee selection is even more important. Our findings may provide insight into the selection of CEOs.

This study aims to provide a critical assessment of developments in the field of voluntary corporate non-financial and sustainability reporting and disclosure (VRD). The assessment is grounded in the empirical material of a three-year research project on integrated reporting (IR).

Alvesson and Deetz’s (2021) critical management framework structures the arguments in this paper. By investigating local phenomena and the extant literature, the authors glean insights that they later critique, drawing on the empirical evidence collected during the research project. Transformative redefinitions are then proposed that point to future opportunities for research on voluntary organisational disclosures.

The authors argue that the mainstream approaches to VRD, namely, incremental information and legitimacy theories, present shortcomings in addressing why and how organisations voluntarily disclose information. First, the authors find that companies adopting the International IR Council’s (IIRC, 2021) IR framework tend to comply with the framework only in an informal, rather than a substantial way. Second, the authors find that, at times, organisations serendipitously chance upon VRD practices such as IR instead of rationally recognising the potential ability of such practices to provide useful information for decision-making by investors. Also, powerful groups in organisations may use VRD practices to establish, maintain or restore power balances in their favour.

The paper’s limitations stem directly from its aim to be a critical reflection. Even when grounded on empirics, a reflection is mainly a subjective effort. Therefore, different researchers could come to different conclusions and offer different lessons from the two case studies.

The different rationales the authors found for VRD should make a case for reporting institutions to tone down any investor-centric rhetoric in favour of more substantial disclosures. The findings imply that reporting organisations should approach the different frameworks with a critical eye and read between the lines of these frameworks to determine whether the purported normative arguments are achievable practice.

The authors reflect on timely and relevant issues linked to recent developments in the VRD landscape. Further, the authors offer possible ways forward for critical research that may rely on different methodological choices, such as interventionist and post-structuralist research.

This paper aims to reinforce the arguments for applying the social support concept in social marketing.

This paper aims to conceptually outline the potential positive contribution of social support for social marketing practice as a tool to induce behavior change.

This paper focuses on the philosophical principle of social exchange, highlights the consumer-centered perspective of social marketing, which implies the natural evaluation of the social networks of influence and support and presents social support as a mechanism to induce long-term behavior change.

No empirical (qualitative or quantitative) investigations were used to test the application of the concept in practical interventions.

This paper provides significant insights for intervention developers that can be used to program and theoretically justify future social marketing interventions applying the social support concept.

Empirical research concluded for a positive relation between social support and human health and well-being. Thus, increasing the use of the concept in social marketing can serve to attain these social goals.

The concept of social support has gained considerable interest in the areas of behavioral medicine and health psychology. Despite such interest, it is still not clear how it can be approached in social marketing as there is a lack of conceptual literature discussing social support from a social marketing perspective, the number of social marketing interventions operationalizing the concept is limited and, till date, no research has focused in comprehensively establishing a theoretical rationale to operationalize the concept in social marketing.

Purpose – Previous studies distinguish revenue management based on discretionary accruals; the research of studies is to investigate the factors that affect the finance manager at the discretionary accrual in General financial information statement.

Design/Methodology/Approach – Literature review models used in research aimed at detecting any company that performs the company’s discretion to fulfill the accrual of interests internally. This research study also discusses the relationship between earnings and discretionary manager behavior.

Findings – The researcher wants to re-examine the hypothesis of market efficiency on Indonesia’s capital market. The current company information technology uses greatly influences worldwide investor interest to invest on Indonesian’s capital market. Emerging Indonesia Capital market status becomes very interesting to be studied.

Originality/Value – It also presented the shortcomings of current research and the trends for future study in capital market.

This paper aims to examine critically the literature on transformational tourism and explore a research agenda for a post-COVID future.

A systematic review of the transformational tourism literature is performed over a 42-year period from 1978 to 2020.

Further research is required in terms of how transformative experiences should be calibrated and measured both in qualitative and quantitative terms, particularly from the perspective of how tourists are transformed by their experiences. Similarly, the nature and depth of these transformative processes remain poorly understood, particularly given the many different types of tourism associated with transformative experiences, which range from religious pilgrimages to backpacking and include several forms of ecotourism.

Future research directions for transformational tourism are discussed with regard to how COVID-19 will transform the dynamics of tourism and travel, including the role of new smart technologies in the creation of enhanced transformational experiences, and the changing expectations and perceptions of transformative travel in the post-COVID era. In addition, the researchers call for future studies on transformational tourism to explore the role of host communities in the delivery of meaningful visitor experiences.

Transformational tourism is an emerging body of research, which has attracted a growing level of interest among tourism scholars in recent years. However, to this date, a systematic review of published literature in this field has not been conducted yet in a holistic sense. This paper offers a framework for future research in this field.