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The authors investigate whether firm-specific vulnerability to climate change influences foreign exchange hedging, using a novel text-based measure of firm-level climate change exposure generated by state-of-the-art machine-learning algorithms.

The authors' empirical analysis includes firm-fixed effects, random-effects regressions, propensity score matching (PSM), entropy balancing, an instrumental-variable analysis and using an exogenous shock as a quasi-natural experiment.

The authors' findings suggest that greater climate change exposure brings about a significant reduction in exchange rate hedging. Companies more exposed to climate change may invest significant resources to address climate change risk, such that they have fewer resources available for currency risk management. Additionally, firms seriously coping with climate change risk may view exchange rate risk as relatively less important in comparison to the risk posed by climate change. Notably, the authors also find that the negative effect of climate change exposure on currency hedging can be specifically attributed to the regulatory aspect of climate change risk rather than the physical dimension, suggesting that companies view the regulatory dimension of climate change as more critical.

Recent studies have demonstrated that climatic fluctuations represent one of the most recent sources of unpredictability, thereby impacting the economy and financial markets (Barnett et al., 2020; Bolton and Kacperczyk, 2020; Engle et al., 2020). The authors' study advances this field of research by revealing that company-specific exposure to climate change serves as a significant determinant of corporate currency hedging, thus expanding the existing knowledge base.

Promoting sustainable consumption is key to global sustainable development. The current study aims to explore the impact of environmental risk perception, environmental knowledge, social pressure and health consciousness on sustainable behavior intention among millennial consumers.

This study used a survey method and a self-administered questionnaire to obtain data from the millennial generation. Smart partial least square (PLS) 4.0 was used to analyze data. This research used judgmental sampling and collected 596 valid responses.

The present study indicates that sustainable consumption is becoming more prevalent among millennials. The authors observed that a high level of environmental risk perception, environmental knowledge, social pressure and health consciousness are the antecedents of sustainable behavioral intention, ultimately leading to sustainable consumption behavior.

The current study highlights the millennial generation's sustainable consumption behavior. Researchers, policymakers, scientists, managers, industry professionals and brand managers can use the research findings to establish a sustainable framework.

This research finds that promoting ecological consumption and environmental consciousness can help developing countries achieve environmental sustainability and ecological balance. The research findings add to the literature by offering new insights into customers' pricing perception for sustainable products and sustainable product availability toward sustainable consumption behavior in developing countries.

This paper investigates the impact of financial leverage on corporate cash holdings in the Middle East and North African (MENA) emerging markets.

The author applies the dynamic modeling approach to data from nonfinancial firms listed in 10 MENA countries between 2010 and 2019. The empirical model avoids the shortcomings of the prior literature by including indicators of the dynamics of the financial leverage to account for its persistence in the corporate cash holdings reserves.

This research reports a significant negative relationship between corporate cash holdings and financial leverage. The results support the pecking order model, suggesting that leverage can be regarded as a substitute for holding a larger amount of cash and marketable securities. The author argues that the negative relationship between financial leverage and corporate cash holdings reinforces the precautionary motive to have internal cash reserves rather than external debt to support capital and investment activities by firms in the MENA emerging markets.

The results of this research provide important insights into cash and capital structure management for nonfinancial listed firms in the MENA emerging markets. Specifically, the paper will help managers to understand the dynamic financial leverage determinants of holding cash in corporations in the MENA emerging markets and encourage policymakers to financially determine the corporate capital structure and cash holdings based on cost and benefits. Managing the firm's capital structure and cash holdings based on trade-offs between costs and benefits would enhance operating cash flow which may play an important role in creating value for shareholders.

Prior studies have commonly been concerned with the determinants of corporate cash holdings, but few have investigated the dynamic financial leverage determinants of corporate cash holdings. This paper draws attention to this issue within the context of MENA emerging markets. To the authors' best knowledge, this is the first study that explores the relationship between cash holdings and financial leverage in MENA emerging markets.

The e-commerce boom presents new challenges for last-mile delivery (LMD), which may be mitigated by new delivery technologies. This paper evaluates the impact of mobile parcel lockers (MPL) on costs and CO₂ equivalent (CO₂e) emissions in existing LMD networks, which include home delivery and shipments to stationary parcel lockers.

To describe customers’ preferences, we design a multinomial logit model based on recipients’ travel distance to pick-up locations and availability at home. Based on route cost estimation, we define the operating costs for MPLs. We devise a mathematical model with binary decision variables to optimize the location of MPLs.

Our study demonstrates that integrating MPLs leads to additional cost savings of 8.7% and extra CO₂e emissions savings of up to 5.4%. Our analysis of several regional clusters suggests that MPLs yield benefits in highly populous cities but may result in additional emissions in more rural areas where recipients drive longer distances to pick-ups.

This paper designs a suitable operating model for MPLs and demonstrates environmental and economic savings. Moreover, it adds recipients’ availability at home to receive parcels improving the accuracy of stochastic demand. In addition, MPLs are evaluated in the context of several regional clusters ranging from large cities to rural areas. Thus, we provide managerial guidance to logistics service providers how and where to deploy MPLs.

The authors target the interrelationships between non-fungible tokens (NFTs), decentralized finance (DeFi) and carbon allowances (CA) markets during 2021–2023. The recent shift of crypto and DeFi miners from China (the People's Republic of China, PRC) green hydro energy to dirty fuel energies elsewhere induces investments in carbon offsetting instruments; this is a backdrop to the authors’ investigation.

The quantile vector autoregression (VAR) approach is employed to examine extreme-quantile-connectedness and spillovers among the NFT Index (NFTI), DeFi Pulse Index (DPI), KraneShares Global Carbon Strategy ETF price (KRBN) and the Solactive Carbon Emission Allowances Rolling Futures Total Return Index (SOLCARBT).

At bull markets, DPI is the only consistent net shock transmitter as NFTI transmits innovations only at the most extreme quantile. At bear markets, KRBN and SOLCARBT are net shock transmitters, while NFTI is the only consistent net shock receiver. The receiver-transmitter roles change as a function of the market conditions. The increases in the relative tail dependence correspond to the stress events, which make systemic connectedness augment, turning market-specific idiosyncratic considerations less relevant.

The shift of digital asset miners from the PRC has resulted in excessive fuel energy consumption and aggravated environmental consequences regarding NFTs and DeFi mining. Although there exist numerous studies dedicated to CA trading and its role in carbon print reduction, the direct nexus between NFT, DeFi and CA has never been addressed in the literature. The originality of the authors’ research consists in bridging this void. Results are valuable for portfolio managers in bull and bear markets, as the authors show that connectedness is more intense under such conditions.

Users' knowledge contribution behaviors are critical for online Q&A communities to thrive. Well-organized question threads in online Q&A communities enable users to clearly read existing answers and their evaluations before contributing. Based on the social comparison and peer influence literature, the authors examine peer influence on the informativeness of knowledge contributions in competitive settings. The authors also consider three levels of moderating factors concerning individuals' perception of competitiveness: question level, thread level and contributor level.

The authors collected data from one of the largest online Q&A communities in China. The hypotheses were validated using hierarchical linear models with cross-classified random effects. The generalized propensity score weighting method was employed for the robustness check.

The authors demonstrate the peer influence due to social comparison concerns among knowledge contribution behaviors in the same question thread. If more prior knowledge contributors choose to contribute long answers in the question thread, the subsequent contributions are more informative. This peer influence is stronger for factual questions and questions with higher popularity of answering but weaker in recommendation-type and well-answered questions and for contributors with higher social status.

This research provides a new cue of peer influence on online UGC contributions in competitive settings initiated by social comparison concerns. Additionally, the authors identify three levels of moderating factors (question level, thread level and contributor level) that are specific to online Q&A settings and are related to a contributor's perception of competitiveness, which affect the direct effect of peer influence on knowledge contributions. Rather than focus on motivation and quality evaluation, the authors concentrate on the specific content of online knowledge contributions. Peer influence here is not based on an actual acquaintance or a following relationship but on answering the same question. The authors also illustrate the competitive peer influence in subjective and personalized behaviors in online UGC communities.

The purpose of this study is to examine research on academic libraries and the social web published from July 1, 2019, to June 30, 2023.

The article search and filtering procedures mirrored those of Choi and Harper (2020) and Carlsson (2015), resulting in a total sample size of 93 articles. These articles underwent examination based on the same eight variables (i.e. journal outlet, research theme, publication year, social web type, method, keyword, study participant type and study country) as employed by Choi and Harper (2020) and Carlsson (2015), with the addition of two new variables (i.e. research purpose and the impact of COVID-19).

The research article volume has consistently maintained a stable trend. A notable difference from Choi and Harper (2020) and Carlsson (2015) is the rise of “user perspectives” as the second most prevalent theme. Unlike Choi and Harper (2020), the “survey” method is predominant. Many research purposes, excluding “marketing and promotion,” lack attention. Additionally, there’s a dearth of studies on the impact of COVID-19.

The findings from the study not only offer a snapshot of the current research landscape on academic libraries and their engagement with the social web but also offer insights for future scholarly endeavors.

There is a limited effort in exploring the recent literature regarding the role of the social web in academic libraries. This study serves as a valuable guide for contributing to this dynamic research stream and provides various up-to-date implications.

This historical example of the creation of the arms industry in the Connecticut River Valley in the 1800s provides new insights into the value of government venture capital (GVC) and government demand in creating a new industry. Since current theoretical explanations of the best uses of governmental venture capital are still under development, there is considerable need for further theory development to explain and predict the creation of an industry and especially those industries where failures in private capital supply necessitates governmental involvement in new firm creation. The purpose of this paper is to provide an in depth historical review of how the arms industry evolved spurred by GVC and government created demand.

This study uses abductive inference as the best way to build and test emerging theories and advancing theoretical explanations of the best uses of GVC and governmental demand to achieve socially required outcomes.

By observing this specific historical example in detail, the authors add to the understanding of value creation caused by governmental venture capital funding of existing theory. A major contribution of this paper is to advance theory based on detailed observation.

The relatively limited research literature and theory development on governmental venture capital funding and the critical success factors in startups are enriched by this abductive investigation of the creation of the historically important arms industry and its spillover into creating the specialized machine industry.

This study aims to investigate the relationship between corporate tax avoidance and stock price crash risk and the moderating effects of corporate governance.

This study investigates the relationship between corporate tax avoidance and stock price crash risk using the sample consisting of listed firms in Vietnam for the period of 2011–2020 using panel regressions.

The authors find that there is a positive relationship between tax avoidance and stock price crash risk. Foreign ownership weakens the impacts of tax avoidance on stock price crash risk, while managerial ownership strengthens the impacts. Female Chief Executive Officers (CEOs) and female chairpersons weaken this relationship. Board gender diversity and state ownership have insignificant moderating impacts.

These findings could help the stock market build better internal monitoring mechanisms to reduce the impacts of tax avoidance on future stock price crash risk. Investors can recognize the characteristics of corporate governance, especially foreign ownership, managerial ownership, female CEOs and female chairpersons when making investment decisions. The policy makers should consider policies to attract foreign investment and support women entrepreneurship.

This paper contributes to the literature on the impacts of tax avoidance on stock price crash risk in emerging countries. This paper is the first to investigate the influence of corporate governance mechanisms including state ownership, foreign ownership, female CEOs and chairpersons and board gender diversity on this relationship.

Based on the perspectives of social capital, image motivation and motivation affordances, this paper explores the direct and moderation effects of different kinds of motivations (i.e. relationship-based motivation, community-based motivation and individual-based motivation) on users' continuous knowledge contributions in social question and answer (Q&A) communities.

The authors collect the panel data of 10,193 users from a popular social Q&A community in China. Then, a negative binomial regression model is adopted to analyze the collected data.

The paper demonstrates that social learning, peer recognition and knowledge seeking positively affect users' continuous contribution behaviors. However, the results also show that social exposure has the opposite effect. In addition, self-presentation is found to moderate the influence of social factors on users' continuous use behaviors, while the moderation effect of motivation affordances has no significance.

First, this study develops a comprehensive motivation framework that helps gain deeper insights into the underlying mechanism of knowledge contribution in social Q&A communities. Second, this study conducts panel data analysis to capture the impacts of motivations over time, rather than intentions at a fixed time point. Third, the findings can help operators of social Q&A communities to optimize community norms and incentive mechanisms.