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This paper investigates share price clustering and its determinants across Nasdaq Stockholm, Copenhagen, Helsinki, and Iceland.

This paper investigates share price clustering and its determinants across Nasdaq Stockholm, Copenhagen, Helsinki, and Iceland. Univariate analysis confirms widespread clustering, notably favouring closing prices ending in zero. Multivariate analysis explores the impact of firm size, price level, volatility, and turnover on clustering.

Univariate analysis confirms widespread clustering, notably favouring closing prices ending in zero. Multivariate analysis explores the impact of firm size, price level, volatility, and turnover on clustering. Results reveal pervasive clustering, strengthening with higher prices and turnover but weakening with larger trade volumes, firm size, and smaller tick sizes. These empirical findings support the theoretical expectations of price negotiation and resolution hypotheses.

The observed clustering presents an opportunity for investors to potentially capitalize on this market anomaly and achieve supra-normal returns.

Price clustering, the phenomenon where certain price levels are traded more frequently, challenges the efficient market hypothesis and has been extensively studied in financial markets. However, the Scandinavian stock markets, particularly those in the Nasdaq Nordic Exchange, remain unexplored in this context.

This paper aims to examine the extent of price clustering in a selection of Islamic stocks listed in Indonesia, Malaysia and Pakistan and also investigates the determinants of the phenomenon at the firm level.

The author test the uniformity of price distribution in the selected securities. Then, the determinants of price clustering were investigated through multivariate analysis based on a binary logistic regression model. Following the arguments of Narayan et al. (2011), who emphasize the importance of considering firm heterogeneity when studying the phenomenon, the author conducts the empirical study at the firm level.

The evidence indicates that Islamic stocks show a mild level of price clustering. Only half of the stocks under analysis rejected the uniformity test in the distribution of prices. In these cases, investors exhibited a preference for prices ending at zero and five. The evidence does not confirm the cultural clustering theories. Price clustering is found to be positively associated with price level and relative bid-ask spread. Overall, the negotiation hypothesis, which predicts that investors prefer round prices to minimize the costs associated with negotiations, best explains most of our results.

The existence of price clustering is difficult to reconcile with the prediction of the efficient market hypothesis that prices should follow a random walk. Moreover, the evidence indicates that Muslim investors share a preference for round prices in some settings, under the assumption that Islamic stocks are mostly traded by Muslim investors.

To the author’s best knowledge, this is the first study to address the subject of price clustering in Islamic stocks.

This study aims to evaluate the relationship between integrated reporting and management’s opportunistic behavior (i.e., accrual and real earnings management) and the moderating role of firm complexity.

Data of firms at the Johannesburg Stock Exchange were collected and analyzed. The Johannesburg Stock Exchange is currently the primary exchange that mandates the practice of integrated reporting. Regression estimation models and robustness tests were applied to the analysis.

This study concludes that integrated reporting quality reduces firms’ accrual and real earnings management practices. It further concludes that the significant negative effect of integrated reporting quality on firms’ earnings management practices is impeded by higher firm complexity.

This study enhances the literature on the behavioral effect of a combined financial and sustainability disclosure practice on both accrual and real earnings management, specifically targeting South Africa’s listed companies – the primary market currently mandates integrated reporting practice.

Despite the growing popularity of online secondhand platforms globally, there is a lack of studies exploring how consumers worldwide perceive contamination and the use of secondhand goods differently according to the culture. Based on the consumer contamination theory, this study aims to investigate the cultural differences of South Koreans and Americans by examining three variables (e.g. transaction type, ownership duration and physical attractiveness) related to consumers' perception of contamination and purchase intentions for a secondhand apparel item.

Data were collected from 422 US and South Korean female consumers who were assigned to an experimental scenario, and their secondhand purchase intentions and perceived contamination were compared through independent t-tests and moderated regression analyses.

Consumers' purchase intentions increased, and perceived contamination decreased when the transaction type was business-to-consumer (vs consumer-to-consumer), when the item had been owned for a shorter period of time and when the item was sold by an attractive seller. Such effect was more pronounced for South Korean consumers than the US consumers in the negative contamination contexts (i.e. transaction type, ownership duration), but not in the positive contamination context (i.e. attractiveness).

The findings of the study add to the literature on consumer contamination theory through an examination of several negative and positive contamination factors in retail contexts and highlight the role of culture as a critical moderator.

Despite enormous literature on Human Resource Management (HRM) practices in the context of Mergers and Acquisitions (M&As), researchers have not come up with a synthesis that integrates the role and importance of HRM practices during M&As. This study aims to identify, analyse and synthesise existing literature to discover associated HRM practices that facilitate organisational change during M&As.

Bibliometric analysis is performed using 473 research articles entailing 871 authors from 62 countries (published in Scopus and WoS listed journals), followed by a thematic cluster analysis using bibliographic coupling. The analysis is performed using different means as citation analysis, cluster analysis and keyword analysis to reveal the most significant publications, authors, keywords, trends and future research questions.

The results are primarily descriptive and aim at capturing a panoramic view of what was already written on the topic so far. The bibliometric analysis is conducted using different means like citation analysis, cluster analysis and keyword analysis to reveal the most significant publications, notable authors, keywords, current research trends and future research questions. Further, the bibliographic coupling analysis led to the identification of the following six clusters: (1) coping strategies during and post-M&As; (2) changes in individual and organisational identification during and post-M&As; (3) role of cultural and transformational leadership in M&As success; (4) HRM practices to develop employee capabilities post-M&As; (5) case studies and success stories of M&As; and (6) organisational readiness for M&As.

This study has theoretical and practical implications and suggests future research directions. The authors also propose an abstruse model for HRM practices during M&A process for further investigation.

This is the first bibliometric study to explore the vast extant literature in M&A research related to the role of HRM practices in the execution of successful M&As.

The purpose of this study is to clarify the role of various levels of modality richness [text-visual, audiovisual and augmented reality interactive technology (ARIT)] on vivid memories (visual sensory detailed, emotionally intense, first-person perspective and coherent) and exploratory behavior. To clarify which modality richness online retailers use is more appropriate to create a virtual reality simulation experience to fill a significant gap in the sensory interactive marketing paradigm.

A task-based laboratory study was conducted to provide users with private try-on space. A total of 429 valid questionnaires were collected, and partial least squares path modeling was adopted to test hypotheses.

The results indicate that various levels of modality richness (text-visual, audiovisual and ARIT) positively affect vivid memories (visual sensory detailed, emotionally intense, first-person perspective and coherent), and vivid memories successfully induce exploratory behavior.

The study results could also help retailers and brands with clear guidance in designing and creating simulation experience services and choosing the best way to present products. With the results of this research, retailers will also be able to grasp better the critical points of introducing innovative technology into the service experience and then create the benefits of digital economic growth.

Exploring which digital interactive technology online retailers use is more appropriate to create a virtual reality shopping experience to fill a significant gap in the sensory interactive marketing paradigm. Exploring the antecedents of vivid memories in a digital sensory interactive experience contributes to the body schema literature and the script theory. We draw from construal level theory (CLT) to clarify the impact of various levels of modality richness on driving the difference in sensory simulation schema to break through the limited findings of previous studies, namely using CLT to interpret psychological distance.

This study aims to examine the comprehensive relationship among dimensions of social capital (SC) and web 2.0 on tacit knowledge sharing (TKS). This research studies innovative work behavior (IWB) as an outcome of TKS. The study also aims to examine the moderating impact of absorptive capacity (AC).

The empirical research collected data from 497 information technology (IT) professionals working in IT organizations. Data were evaluated and presented in tables using the Smart PLS 3.3.3 software.

The results indicated that SC and web 2.0 significantly affected TKS. The finding also discusses the significant impact of TKS in influencing IWB among IT professionals. The results indicated that AC moderates the relationship between TKS and IWB.

The present paper contributes significantly toward an investigation of TKS, SC, web2.0, AC and IWB as an outcome. The authors also validate and analyze the significant SC higher-order incorporated in all dimensions of SC, thus, forming the methodological part.

Although there is a growing body of literature on how celebrity involvement impacts the effectiveness of destination marketing, the underlying mechanisms of that relationship are still underexplored. Based on the affect transfer and meaning transfer theories, this study aims to examine the impact of celebrity attachment on customer delight toward K-culture and K-culture attachment, affective and cognitive images of Korea, and the intention to visit Korea.

Online survey data were collected from 2,614 US residents, representing various demographic characteristics. For the data analysis, the partial least squares-structural equation modeling was conducted to evaluate the structural model and test the hypotheses.

The results showed that celebrity attachment is positively related to customer delight toward K-culture and K-culture attachment, which, in turn, positively influences affective and cognitive images of Korea. Additionally, K-culture attachment positively influences cognitive and affective images of Korea, which are positively related to the intention to visit Korea.

By using the affect transfer theory and meaning transfer theory, this study provides valuable insights into how consumer’s attachment to celebrities has spillover effects on the decision-making process. This study also adds a new concept, customer delight connected to cultural experience, in the context of destination marketing.

By understanding the importance and influence of people’s intimacy with media characters, practitioners can apply parasocial relationship theory, affect transfer theory and meaning transfer theory to their marketing strategies.

As one of the few empirical studies that examines the impact of celebrity attachment on consumers’ perceptions and behaviors, this study can make significant contributions to the destination marketing literature.

The purpose of this study is to examine how informational faultlines on a board affect the management of knowledge owned by directors and the consequences on organizational performance. In this study, informational faultlines are defined as hypothetical lines that divide a group into relatively homogeneous subgroups based on the alignment of several informational attributes among board members.

The study uses unique hand-collected panel data covering 7,247 board members at 106 publicly traded firms to provide strong support for the hypothesized U-shaped relationship. The authors use a fixed effects approach and a system generalized method of moments approach to test the hypothesis.

The study finds that the relationship between informational faultlines on a board and organizational performance is U shaped, with the least optimal organizational performance experienced when boards have moderate informational faultlines. More specifically, informational faultlines within boards are negatively related to organizational performance across the weak-to-moderate range of informational faultlines and positively related to organizational performance across the moderate-to-strong range.

By explaining the mechanisms through which informational faultlines are related to organizational performance, the authors contribute to the literature in a number of ways. By conceptualizing how the management of knowledge plays an important role in the particular setting of corporate boards, the authors add not only to literature on knowledge management but also to the faultline and corporate governance literature.

This study offers a rationale for prior mixed findings by providing an alternative theoretical basis to explain the effect of informational faultlines within boards on organizational performance. To advance the field, the authors build on the concept of knowledge demonstrability to illuminate how informational faultlines affect the management of knowledge within boards, which will translate to organizational performance.