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This study aims to comprehensively understand market reactions to Bursa Malaysia's announcement on mandatory climate-change-related disclosures, exploring sector-specific dynamics and cross-sectional influences.

The study uses event study methodology on 412 listed firms to analyze market reactions around the announcement date. The sector-wise analysis further delves into variations across industries. Cross-sectional analysis explores the significance of environmental, social and governance (ESG) scores and firm controls in explaining the differences across sample firms.

The event study reveals initial negative market reactions on the event day, with a subsequent shift from positive to negative cumulative impact, indicating the evolving nature of investor sentiment. The sector-wise analysis highlights heterogeneous effects, emphasizing the need for tailored strategies based on industry-specific characteristics. The cross-sectional findings underscore the growing importance of ESG factors, with firm size and performance influencing market reactions. Financial leverage and liquidity prove insufficient to explain cumulative abnormal return (CAR) differences, while past returns and volatility are influential technical factors.

The economic significance of the results indicates a growing trend where investors prioritize companies with more substantial ESG scores, potentially driving shifts in corporate strategies toward sustainability. Better ESG performance signifies improved risk management and long-term resilience in the face of market dynamics. Regulatory bodies may respond by enhancing ESG reporting requirements, while financial institutions integrate ESG factors into their models, emphasizing the benefits of sustainability and financial performance.

This research contributes to the existing literature by providing a nuanced analysis of market responses to climate-related disclosures, incorporating sector-specific dynamics and cross-sectional influences. The findings offer valuable insights for businesses and policymakers, emphasizing the need for tailored approaches to climate-related disclosure management.

The purpose of this paper is to examine the 2015 Union Cycliste Internationale (UCI) Road World Cycling Championship in Richmond, Virginia.

An array of eclectic methods included in situ witness observations of several of the races, 21 semi-structured random interviews and multiple discussions with elements of UCI, the city of Richmond’s planners, residents and business owners during and after the championship in fall 2015.

This paper has uncovered five findings: First, the material investment was considerably smaller than that of other events (common good criterion CGC i – good governance); second, pre-planning was critical to successfully hosting the event; third, this event included not only two entities as one would expect at first glance, but many (common good criterion CGC ii – good management); fourth, a filière approach to community service and the exploitation of clustered thematic activities was of critical importance to successfully hosting the 2015 UCI Road World Cycling Championship; and fifth, this event enabled the opportunity to market other city and regional assets (common good criterion CGC iii – good outcomes).

Cities hoping to bid for events ought to consider hosting unique events such as road championships. Those cities will benefit from careful event pre-planning, responsible event hosting and post-event legacies in the form of socio-economic and mindscape memories.

Bidding and pre-event planning is increasingly seen as an opportunity to locate, create and develop support for common good urban projects, which will remain valuable after the event is over or which will need to be built in spite of the bid’s result.

This study fills an unresearched gap on the impact of events on a city’s future non-motorized sustainable transportation priorities.

No Olympics in recent history have come in on or under budget, with past Olympics having overrun their budgets by an average of 172% (Flyvbjerg et al., 2021). Growing concerns among taxpayers about the expense have led many cities to drop out of the bidding process for the Olympics: for the 2024 Olympic Games, bids were withdrawn by Boston, Budapest, Hamburg, and Rome (Okada & Greyser, 2018). Sports infrastructure, including the main stadium, is a major cost category for the Olympic Games. Building or renovating venues to Olympic specifications can leave cities with heavy costs of long-term maintenance as well as the cost of initial construction (Baade & Matheson, 2016). In practice, cities tend to overestimate the size and suitability of existing venues, leading to underestimated costs and budget overruns (Preuß et al., 2019). The Brisbane 2032 Olympic bid says that Brisbane’s Olympics are confident of breaking even, and avoiding building stadiums that end up as white elephants. But does the choice of Olympic stadium make a difference to the final cost overrun? This study finds that cost overruns for past Olympics have been predicted using a few characteristics of the main stadium: its age, its distance from the city centre, and its seating capacity. This has important policy implications for selecting stadiums to be used at the Olympic Games and particularly for the Brisbane 2032 Olympic Games where a stadium has been earmarked for selection without data-driven evidence to support the decision.

Computer vision (CV) offers a promising approach to transforming the conventional in-person inspection practices prevalent within the construction industry. However, the reliance on centralized systems in current CV-based inspections introduces a vulnerability to potential data manipulation. Unreliable inspection records make it challenging for safety managers to make timely decisions to ensure safety compliance. To address this issue, this paper proposes a blockchain (BC) and CV-based framework to enhance safety inspections at construction sites.

This study adopted a BC-enhanced CV approach. By leveraging CV and BC, safety conditions are automatically identified from site images and can be reliably recorded as safety inspection data through the BC network. Additionally, by using this data, smart contracts coordinate inspection tasks, assign responsibilities and verify safety performance, managing the entire safety inspection process remotely.

A case study confirms the framework’s applicability and efficacy in facilitating remote and reliable safety inspections. The proposed framework is envisaged to greatly improve current safety inspection practices and, in doing so, contribute to reduced accidents and injuries in the construction industry.

This study provides novel and practical guidance for integrating CV and BC in construction safety inspection. It fulfills an identified need to study how to leverage CV-based inspection results for remotely managing the safety inspection process using BC. This work not only takes a significant step towards data-driven decision-making in the safety inspection process, but also paves the way for future studies aiming to develop tamper-proof data management systems for industrial inspections and audits.

The primary objective is to analyze the direct and short-run impact of hosting the FIFA World Cup on inward FDI, considering both aggregate and sectoral levels. Additionally, the study aims to investigate the moderating role of governance quality on this impact, emphasizing the importance of robust institutional frameworks in attracting FDI.

This paper uses panel data spanning 1970–2022, encompassing 12 countries that have hosted FIFA World Cup events. The study employs a linear regression model with a robust weighted least squares (RWLS) estimation method. It incorporates various control variables and the institutional quality as moderating variables, to evaluate the impact of hosting the FIFA World Cup on inward FDI at both aggregate and sectoral levels.

Hosting the FIFA World Cup is associated with a significant average increase of $4.33 bn in inward FDI at the aggregate level. Notably, governance quality serves as a critical moderating factor, with well-governed countries experiencing a more substantial increase in FDI, totaling $10.5 bn. At the sectoral level, the results reveal that poorly governed countries attract FDI in primary sectors, while well-governed countries attract FDI in secondary and tertiary sectors. This highlights the nuanced dynamics of FDI attraction depending on the institutional quality of the host countries.

A primary limitation lies in the scarcity of sectoral-level data, constraining the comprehensive study of the relationship between hosting mega-sport events and FDI. Future research could explore alternative data sources and methodologies to overcome this limitation. Additionally, extending the analysis to include other economic indicators beyond FDI could provide a more holistic understanding of the economic implications of hosting major international sporting events.

This study contributes to the literature by focusing exclusively on the FIFA World Cup and undertaking a comprehensive sectoral analysis. By incorporating governance quality as a moderating variable, it adds a nuanced layer to the understanding of the impact of hosting international events on FDI at the sectoral level. The findings underscore the importance of targeted strategies and robust institutional quality in enhancing FDI attractiveness.

This study examines the influence of the ownership structure of banks on investors' behavior by dissecting the investors' response to news regarding performance indicators in private and government-owned banks.

The event study methodology is used for the analysis. The data for 35 banks (out of 38), listed on the National Stock Exchange (NSE) for a duration of 230 months (January 2001 to February 2020) is collected. A set of cross-sectional regression analyses is done to identify variables influencing the returns under differential circumstances.

Private banks seem to display a sharper response to negative changes in earnings, while government-owned banks show a more robust reaction to a positive change. The contrast is seen in the variables, having a bearing on the abnormal returns After controlling for a set of factors, the regression analysis shows the ownership structure may not matter on abnormal returns (on event day), the factors such as a change in quarterly earnings, firm-size and three-year average-sales growth influence the positive and negative changes in abnormal returns of government banks, and predictability for private banks is found to be poor regarding selected indicators.

The study evaluates the role of ownership structure on the heterogeneity in investors' responses to the financial performance of banks, thereby assisting in designing strategies to ensure the optimal outcome around the quarterly earnings announcements.

This research investigates the differential impact of information technology (IT) investments based on their features, such as investment in data management capability, security improvement, IT outsourcing or new IT infrastructure. The Long-Horizon Event Study (LHES) is essential for providing a more appropriate measure of the value of IT investments because firms' strategic decisions often set long-horizon and large-scale organizational goals, and there is inherent uncertainty regarding future cash flows resulting from these investments. Therefore, the authors aim to analyze how announcements of IT investments affect the firm's abnormal stock returns over the long term and to compare the differential impact of different features of IT investment.

The authors gathered IT investment announcements and stock data of listed firms in Korea between 2000 and 2018, and the monthly stock market returns over the 5 years after the announcements. To measure the differential impact of IT investments based on the investment features, the authors separate announcements data into five groups. A LHES is used to estimate the long-term effects of IT investment announcements.

The results indicate that announcements of IT investments had a long-term positive effect on firm performance. Additionally, the findings reveal differential effects of IT investments across industries and investment features. Notably, news of self-developed IT investments and IT investments in the manufacturing industry had significantly positive effects. However, contrary to common belief, announcements of investments in so-called essential IT areas such as data, security, or new IT infrastructure did not yield significant effects.

Although the need for LHES has been emphasized in information systems research, few follow-up studies have been conducted since Barua and Mani (2018). This is primarily due to the challenges associated with collecting large-scale abnormal stock returns data over a long horizon. This research represents the first LHES to investigate the differential impact of IT investments based on their features. By doing so, this study can provide valuable insights for decision-makers within firms, helping them understand the time horizon of market outcomes of IT investments based on their features. Furthermore, this work extends the scope of LHES to comprehend the differential impacts of investment features. For instance, managers need to grasp that so-called essential IT investments, such as data management, security enhancements or new IT infrastructure, may not necessarily generate long-term market value.

Focussing on the perspective of business event leaders, this study aims to explore the future of transformative experience (TE) events, recognising a paradigm shift from organising conventional events to designing and guiding TEs in the meetings, incentives and conferences as exhibitions (MICE) context.

Using a qualitative interview-based design, insights from 20 international business events industry leaders were gathered and analysed by using thematic analysis through a multi-step process with MAXQDA.

The findings discuss the future of transformative events by identifying the paradigm shift towards TE in business events and outline key dimensions of the leader’s and team’s mindset and skills. Five design principles for TE events in the MICE sector are identified: design for change; emotionally experiential environments; personal engagement; responsibility; and transformative measurement.

The study offers a snapshot of how transformative events of the future could be designed and suggests a series of practical insights for MICE event leaders and organisers seeking to leverage events as a catalyst for intentional transformation, positive impact and long-lasting change.

The study adds to the emerging body of knowledge on TEs and contributes to an extended stakeholder perspective, namely, that of business event leaders and their teams who are instrumental in facilitating transformative events. An original framework for designing TE MICE events is offered as a theoretical contribution.

This study addresses tourists' post-consumption perspectives on the impact of online destination experiences and animosity on travel decisions. Developing a framework based on the stimulus-organism-response (SOR) theory, we examine the previously unexplored relationship between post-negative events, online destination brand experience (ODBE), tourists' animosity and destination boycott intentions within the domestic tourism context.

Data from 355 actively engaged domestic travelers in Pakistan who follow destination social media pages (i.e. Instagram and Facebook) was analyzed using structural equation modeling.

The findings reveal that post-negative events ODBE significantly stimulate tourists' animosity, which in turn drives destination boycott intentions. The ODBE indirectly affects boycott intentions through animosity, acting as a partial mediator. The analysis highlights the significance of the users' prior experience levels (novice vs experienced). Multigroup analysis shows that novice visitors are more sensitive to negative online experiences, resulting in stronger animosity than experienced visitors. Animosity significantly drives boycott intentions, particularly among experienced visitors.

This study’s novelty lies in its comprehensive examination of post-negative events, focusing on how the ODBE influences tourists' negative emotions and boycott intentions. These findings offer valuable insights for tourism researchers and destination marketers, underscoring the importance of optimizing post-service failure ODBE strategies for brand repair, online reputation management, digital marketing innovation and customized service recovery to mitigate the impact of negative events.

This paper aims to examine the impact of announcements related to 77 interventions by 46 listed Indian pharmaceutical firms during COVID-19 on the abnormal returns of the firms. The study also finds the variables which explain cumulative abnormal returns (CARs).

This study uses standard event methodology to compute the abnormal returns of firms announcing pharmaceutical interventions in 2020 and 2021. Besides this, the multilayer perceptron technique is applied to identify the variables that influence the CARs of the sample firms.

The results show the presence of abnormal returns of 0.64% one day before the announcement, indicating information leakage. The multilayer perceptron approach identifies five variables that explain the CARs of the sample companies, which are licensing_age, licensing_size, size, commercialization_age and approval_age.

The study contributes to the efficient market literature by revealing how firm-specific nonfinancial disclosures affect stock prices, especially in times of crisis like pandemics. Prior research focused on determining the effect of COVID-19 variables on abnormal returns. This is the first research to use artificial neural networks to determine which firm-specific variables and pharmaceutical interventions can influence CARs.