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The purpose of this paper is to investigate the relationship between restrictive covenants and accounting conservatism. More specially, the authors try to explain how the use of restrictive covenants of public debt may affect accounting conservatism.

The sample is composed of non-financial firms and for each firm one debt contract is considered. The authors have used the Ball and Shivakumar (2005) models to test the relationships. All variables were retrieved from Mergent Fixed Investment Securities and COMPUSTAT Databases.

The findings of this study show that the more the firm relies on bond covenants, the higher is the degree of conservatism. The authors found also that these firms also exhibited a widely significantly increased level of conservatism in the years following the issuance of debt.

The results should be interpreted with caution because the use of covenants does not take into consideration the tightness of their inclusion in the public debt contract.

This paper makes a timely contribution to the debate of timely loss recognition by confirming the complementarity between the inclusion of restrictive covenants in the debt agreement and the accounting conservatism before and after the emission of public debt.

This paper aims to examine the response of monetary policy to financial instability in the West African Economic and Monetary Union.

Through annual aggregated data from 1970 to 2019, the empirical strategy is based on the Markov regime-switching model with fixed probabilities.

The results revealed that the monetary policy of the central bank of the West African Economic and Monetary Union is characterized by two regimes (calm and distress) with respect to the trend of financial stability. The authors also found that the occurrence of the calm regime was likely greater than that of the distress regime. In addition, the calm regime is longer than the distress regime. The authors finally revealed that the central bank reacts to financial instability risk by increasing its short-term interest rate when financial instability reaches a threshold.

The limitation of this study is the unavailability of monthly or quarterly data that are more suitable for the methodological approach adopted.

This study is the one to estimate the response of the Central Bank of West African Countries to financial stress using a novel approach based on the Markov-Switching regression.

Indonesia subscribes to rights-based principles of family planning. However, a chasm between principles and practice has long been noted on a global basis, and progress has not been well-documented. This paper aims to assess the extent to which the Indonesian national family planning program has evolved in a manner that is consistent with rights-based principles.

The primary source of data was five Indonesian Demographic Health Surveys undertaken from 1997 to 2017. The analyses were organized around three major categories of family planning-related human rights. Trend analysis and logistic regression were used in analyzing the data.

Indonesian women have considerable autonomy in family planning decision, reporting that family planning decisions were mainly made by themselves or jointly with their spouse. Although contraceptive method awareness and demand for family planning are high, Indonesia fares poorly with regard to informed choice in contraceptive method selection. Access to family planning services is comparatively high as judged by contraceptive prevalence, family planning demand satisfaction and unmet need for family planning. However, significant geographic and socioeconomic inequity were observed on many indicators, with eastern Indonesian provinces consistently lagging behind.

This paper focuses on married couple, as Indonesia has a restrictive policy to limiting access and information of family planning for other groups, unmarried youth in particular.

This paper makes an important contribution to document how effectively the prohuman rights policy orientation toward family planning has been translated into services.

This study investigates how the introduction of a stricter loss carryforward offset rule affects firms' innovation.

This study investigates the overall impact of a Korean tax reform that introduced a tighter loss deduction through a difference-in-differences approach and regression discontinuity design.

This study finds that firms subject to the more restrictive tax loss offset provisions tend to file fewer patents than firms not subject to the provision. The authors further find that this effect is more pronounced for firms with high R&D intensity, more investment opportunities and weaker monitoring mechanisms.

The results of this study suggest that more restrictive loss carryforward provisions may deter firms from innovation. This study contributes to the literature on the impact of tax loss rules, the effect of tax policies on investments and the real effects of corporate taxation.

This study sheds light on the debate of the consequences of a Korean tax reform. Specifically, the authors examine whether a stricter tax loss offset policy indeed dampens corporate innovation.

This study exploits a unique and infrequent exogenous tax policy change. The South Korean tax reform creates a treatment group of large firms that were affected by the tax reform, and a control group of small and medium-sized firms that were unaffected. This study takes advantage of this setting to examine the research question.

The purpose of this study is to investigate the effect of the COVID-19 pandemic on key performance metrics of accommodation properties by elaborating on the roles of business models (i.e. franchised, chain-managed and independent hotels, and the sharing economy) and state-level restrictions in the US.

The pandemic is considered a variable interference against the average daily rate, occupancy and revenue per available room, which permits the examination of the before and after effects of the pandemic. The panel data model is used to examine the effect of the recent pandemic on the accommodation sector in the USA.

The results showed that chain-managed hotels were the most adversely impacted by the COVID-19 pandemic, while independent hotels were the least adversely impacted. Interestingly, and consistent with emerging consumer needs suggested by spatial distance theory, the pandemic does not have significant negative effects on Airbnb. The adverse impact of the pandemic on hotels was exacerbated in more restrictive states, while Airbnb remained immune to regulatory differences.

This study addresses the dearth of research on the types, roles and efficacy of business models in the accommodation industry and makes important theoretical contributions to the study of business model resilience in the accommodation industry, leveraging the resource-based theory of the firm and spatial distance theory.

The findings of this study make a significant contribution to the extant literature on the resilience of business models in the accommodation industry and have important implications for hotels, Airbnb owners, accommodation brands and destination and health policymakers. They demonstrate that a lower level of corporate control and greater flexibility in brand and operational standards allow for a more effective response to business disruptions such as a global pandemic.

This paper aims to explore the manoeuvring room of higher education institutions to take action to reduce emissions from academic flying. In particular, this study investigates how university staff and central actors in university management evaluate potential measures in this area.

The authors applied a single case study design encompassing an online survey directed at staff (N = 338) and 11 semi-structured interviews with key actors from management at an Austrian university. The authors used descriptive statistics and qualitative content analysis to examine the data.

This study found considerable support among university staff in principle for implementing measures to reduce academic flying, but also serious concerns about the fairness and viability of some restrictive measures, especially disincentives and caps on flying. However, bans on short-haul flights were largely supported. Actors from university management saw their manoeuvring room limited by the potential resistance and non-compliance of staff, as well as by framework conditions external to the university.

Dedicated leadership is needed to facilitate broad commitment within the university and to avoid shifting the responsibility between different governance levels. Restrictive measures to reduce academic air travel will be more readily accepted if perceived as fair and viable.

Although several papers have addressed the behavioural and institutional factors that sustain extensive flying in academia, to the best of the authors’ knowledge, this is one of the first contributions to investigate the potentials and challenges of introducing measures to reduce air travel in higher education institutions.

According to the Government Response tracker (oxCGRT) index, the overall government response, stringency, economic support, containment and health policies to COVID-19 from January 2020 to December 2022. The main objective of this paper is to explore how stock market performance is affected by these polices, respectively.

The authors employ EGARCH and autoregressive distributional lag (ARDL) models to test the impact of epidemic prevention policy implementation on stock market returns, volatility and liquidity and make cross-country comparisons for six important world economies.

Firstly, the implementation of various preventive policies hurts stock market returns and increases volatility, but there are a few indicators that have no effect or have an easing effect in some countries. Secondly, health policies exacerbate market volatility and have a stronger effect than other policy indicators. Thirdly, In China and the USA, anti-epidemic policies have been shown to worsen liquidity, while in Japan they have been shown to improve liquidity.

First, enrich the growing body of COVID-19 research by comprehensively examining whether and how government prevention policies affect stock market returns, volatility and liquidity. Second, explore the impact of different types of intervention policies on stock market performance, separately.

This paper explores the implications of financial inclusion and financial development for the conduct of monetary policy in achieving price stability and economic growth in sub-Saharan Africa (SSA).

The paper employs the system-generalized methods of moment (GMM) estimation technique using panel data spanning 2004 to 2019 and sourced from Databases of (International Monetary Fund's) IMF's Financial Access Survey (FAS), IMF's International Financial Statistics (IFS), World Bank's Global Financial Development Database (GFDD) and World Bank's World Development Indicators (WDI).

The authors find that financial inclusion has a double-edge effect in SSA. That is, it increases economic growth and lowers inflation in SSA. Furthermore, the results show that a simultaneous increase in financial inclusion and financial development have restrictive effects on economic growth. On the evidence provided, the authors conclude that financial inclusion is an important predictor of economic growth and the conduct of monetary policy in the sub-region.

This paper expands and contributes to the frontier of knowledge how financial inclusion is important for the conduct of monetary policy by monetary authorities in achieving its intended objectives in SSA. The paper highlights the need for ongoing enhancement of financial inclusion of many governments in the sub-region to achieving high economic growth and price stability. Thus, there is the need for policy makers to ensure that a more stringent, effective and appropriate policies and measures are put in place to enhance financial inclusion while taking into consideration the extent of financial development in SSA.

The study has two objectives, first, to examine the effect of COVID-19 deaths and corruption on the government's policy responses, and second, to investigate the effect of COVID-19, corruption and government response on hotel performance, using the developmental system's framework of resilience theory.

The study utilizes hotel data from ten countries collected from 1st March 2020 to 28th February 2021. The data are analyzed using the panel regression analysis in E-views.

The study confirms that government policies direct impact the hotel performance. Specifically, economic support policies have a positive effect on hotel performance, while COVID-19 deaths and restrictions have a negative impact on hotels. The study also found a strong association between corruption and the level of restrictions that governments choose to implement. Therefore, for effective recovery, governments must be mindful of the context in which businesses operate and the effect of their policies on the hotel industry.

The strong correlation between COVID-19 deaths and RevPAR highlights the significance of understanding and addressing customers' risk perception to enhance the resilience of the hotel industry. The findings emphasize the importance of collaboration between the hotel industry and the government for effective crisis management and policymaking.

This study empirically examines how various policy responses and crisis levels impact hotel performance. It sheds light on why countries respond to crises differently and the effects of different policy responses on the hotel industry. The study has many implications for the industry stakeholders and policymakers.