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Using a GED-GARCH model to estimate monthly data from January 1990 to February 2022, we test whether gold acts as a hedge or safe haven asset in 10 countries. With a downturn of the stock market, gold can be viewed as a hedge and safe haven asset in the G7 countries. In the case of inflation, gold acts as a hedge and safe haven asset in the United States, United Kingdom, Canada, China, and Indonesia. For currency depreciation, oil price shock, economic policy uncertainty, and US volatility spillover, evidence finds that gold acts as a hedge and safe haven for all countries.

This study focuses on (re-)introducing computer simulation as a part of the research paradigm. Simulation is a widely applied research method in supply chain and operations management. However, leading journals, such as the International Journal of Operations and Production Management, have often been reluctant to accept simulation studies. This study provides guidelines on how to conduct simulation research that advances theory, is relevant, and matters.

This study pooled the viewpoints of the editorial team of the International Journal of Operations and Production Management and authors of simulation studies. The authors debated their views and outlined why simulation is important and what a compelling simulation should look like.

There is an increasing importance of considering uncertainty, an increasing interest in dynamic phenomena, such as the transient response(s) to disruptions, and an increasing need to consider complementary outcomes, such as sustainability, which many researchers believe can be tackled by big data and modern analytical tools. But building, elaborating, and testing theory by purposeful experimentation is the strength of computer simulation. The authors therefore argue that simulation should play an important role in supply chain and operations management research, but for this, it also has to evolve away from simply generating and analyzing data. Four types of simulation research with much promise are outlined: empirical grounded simulation, simulation that establishes causality, simulation that supplements machine learning, artificial intelligence and analytics and simulation for sensitive environments.

This study identifies reasons why simulation is important for understanding and responding to today's business and societal challenges, it provides some guidance on how to design good simulation studies in this context and it links simulation to empirical research and theory going beyond multimethod studies.

Economists usually shy away from talking about power. They assume an economy comprised of many small and medium-sized firms, each competing for consumer dollars. This circumvents the problem of economic power. John Kenneth Galbraith, however, refused to ignore power. It stood at the center of his economics, and he saw it as a key reason the US economy thrived in the years following World War II (WWII). This chapter examines Galbraith’s changing views regarding economic power. American Capitalism explains how countervailing power, or power on the other side of the market, solves the problem of economic power. In The New Industrial State, scientists and educated managers within the firm (the technostructure) mitigate the negative consequences of economic power wielded by large firms. The Affluent Society and Economics and the Public Purpose look to the government as the main check on corporate power. It does this through labor legislation or programs such as the New Deal and Fair Deal. This chapter then evaluates the different solutions Galbraith proffered to the problem of economic power. It contends that Galbraith got three things right when analyzing economic power. First, we no longer live in a world of scarcity due to oligopolistic firms. Second, capitalism was different in the post-WWII era because the US economy thrived and gains were shared widely. Third, Galbraith understood that power was unequally distributed – both between the public and private sectors and within the private sector itself. On the other hand, Galbraith was overly optimistic in believing the market economy or the public sector could counter corporate power.

This study explores citizen activism in the articulation of a politicised counter-account of Aboriginal rights. It aims to uncover the enabling factors for a successful challenge to established political norms and the obstacles to the fullest expression of a radical imagining.

Laclau and Mouffe's theory of hegemony and discourse is used to frame the movement's success in challenging the prevailing system of urbanised healthcare delivery. Empirical materials were collected through extensive ethnographic fieldwork.

The findings from this longitudinal study identify the factors that predominantly influence the transformational success of an Yaṉangu social movement, such as the institutionalisation of group identity, articulation of a discourse connected to Aboriginal rights to self-determination, demonstration of an alternative imaginary and creation of strong external alliances.

This study offers a rich empirical analysis of counter-accounting in action, drawing on Aboriginal governance traditions of non-confrontational discourse and collective accountability to conceptualise agonistic engagement. These findings contribute to the practical and theoretical construction of democratic accounting and successful citizen activism.

The authors of this study aim to investigate possible explanations of the prevalence of price clustering in the final offer prices of mergers and acquisitions (M&A).

The authors use final offer price in M&A deals to investigate the price clustering phenomena. The authors used regressions and logistic regressions to examine potential factors that might affect pricing strategy by looking into one-time acquirers and experienced serial acquirers.

Price clustering increases with negotiation uncertainties characterized as competitive bidding, number of bidders, challenged deals and duration. Moreover, the authors find persistent price clustering in experienced serial acquirers that are more experienced and better equipped with handling uncertainties, suggesting a preference of using round numbers regardless of levels of uncertainties. The authors' evidence shows that price clustering results from a combination of Harris' (1991) costly negotiation hypothesis where round prices may be used to lower search costs and psychological bias and preference.

The authors appear to be the first to investigate alternative theories that support M&A offer price clustering behavior, finding that both the costly negotiation and psychological bias and preference theories apply to M&A final price formation. Thus, the authors' major contribution, specific to the M&A process, is a clarification of physical and psychological factors associated with bidding and negotiation behavior. The authors are confident that the authors' study impacts conventional knowledge regarding M&A deal negotiation strategies, including bidding behavior, contract negotiation, financial analysis, management practices and risk management.

The intention of the empirics is to contribute to the general understanding of investor responses to market price shocks. The authors review assumptions about investor behavior in response to price shocks and investigate alternative rebalancing heuristics.

The authors use market data over 40 years to define market shocks. Portfolio rebalancing implements constrained Markowitz mean-variance (MV) heuristics.

Momentum rebalancing in portfolio management outperforms contrarian rebalancing in the study interval. Sensitivity analysis by decade, sector constraints and proportion of security holdings bought or sold continue to support momentum rebalancing.

The results are consistent with under-responding to price shocks at consensus levels in financial markets. The theoretical background provides a basis for experimental lab studies of shocks of different magnitudes under conditions in which participants have information on the levels of other participants and a condition in which they can only observe their previous estimates.

Managing portfolios in the face of price disturbances of different magnitudes is informed by empirical studies and their implications for investor behavior.

This is the first study the authors can locate that uses market data with alternative rebalancing heuristics to estimate price returns from the respective heuristics over a time interval of 40 years. The authors support the results with sensitivity estimates and consider implications for the underlying agent heuristics in light of background studies.

Mothers play important roles in their families' lives. When they are high performance athletes, they need specific supports that will enable them to excel in their roles as mother athletes. The feminist qualitative research in this chapter is based on data from two studies drawn from semi-structured interviews with elite female distance runners: 14 in 2013–2014 and 11 in 2021. We address two questions: (1) what are the considerations that elite female distance runners make around planning their pregnancy(ies) and family lives? and (2) how have experiences shifted between athlete interviews in 2013–2014 and a new cohort of athletes in 2021? In order to address these questions, we drew on three complementary theoretical approaches: liberal feminism, radical feminism, and strategic essentialism. Further, we then used thematic analysis and generated three broader themes about elite female distance runners that aligned with both cohorts of athletes. First, athletes are forced to plan/strategize their pregnancies around finances, competitions, contracts, and spousal supports due to the lack of support from athletic governing bodies or corporate sponsors. Second, female athletes who choose to have children experience stress and uncertainty in their athletic careers that their male counterparts do not. Third, elite female athletes are demanding that further change occur to address these inequalities, and participants offered a number of potential solutions to improve supports for these athletes. Although solid progress has been noted in the timeframes of our two cohorts, further commitment from athletic governing bodies and corporate sponsors is needed to work toward gender equity in athletics.

Recent academic studies, as well as media reporting, have devoted substantial attention to the ongoing “crisis of democracy.” Democratic “backsliding” of Central and Eastern Europe – sometimes referred to as an effort to establish a new system of “illiberal democracy” – is one of the most visible symptoms of this crisis. This narrative is supported by the quantitative metrics of democratic quality, reflecting professional community views on the appropriate criteria to define and assess democracy. However, once general public views expressed in the survey item of “satisfaction with democracy” are taken into account, the picture changes markedly. This chapter analyzes quantitative metrics reflecting expert community consensus and the general public assessment of the quality of democracy in the 27 EU members over the period 2010–2019. It documents substantial divergence between the perspectives of the experts and the general public – while expert-based indexes portray Central and Eastern European backsliding as the most significant trend in the EU democratic landscape, public opinion identifies a very different set of democracy's successes and failures. As experts and the general public fail to arrive at mutually accepted criteria of democratic performance evaluation, public debate has become futile. Meaningful discussion and systemic corrections have become unlikely, creating conditions easily exploitable by the populists, eager to frame it as an example of “elite” detachment from the “ordinary people”.