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Banking and finance during the past several decades have become “re‐internationalized,” not simply “internationalized.” This becomes clear when we compare the institutional features of banking and finance today with those in the early part of this century, the last period in which both had a substantial international dimension. It is further apparent in historical data that are analyzed in the paper: cross‐country spreads between real interest rates over the long period 1835 to 1990, and figures for gross foreign assets available for a number of major countries at key points in time from 1885 to 1994. The paper concludes by discussing the factors responsible for the changes that have occurred in banking and finance during the past several decades.

This study aims to assess the robustness and accuracy of the face-centred finite volume (FCFV) method for the simulation of compressible laminar flows in different regimes, using numerical benchmarks.

The work presents a detailed comparison with reference solutions published in the literature –when available– and numerical results computed using a commercial cell-centred finite volume software.

The FCFV scheme provides first-order accurate approximations of the viscous stress tensor and the heat flux, insensitively to cell distortion or stretching. The strategy demonstrates its efficiency in inviscid and viscous flows, for a wide range of Mach numbers, also in the incompressible limit. In purely inviscid flows, non-oscillatory approximations are obtained in the presence of shock waves. In the incompressible limit, accurate solutions are computed without pressure correction algorithms. The method shows its superior performance for viscous high Mach number flows, achieving physically admissible solutions without carbuncle effect and predictions of quantities of interest with errors below 5%.

The FCFV method accurately evaluates, for a wide range of compressible laminar flows, quantities of engineering interest, such as drag, lift and heat transfer coefficients, on unstructured meshes featuring distorted and highly stretched cells, with an aspect ratio up to ten thousand. The method is suitable to simulate industrial flows on complex geometries, relaxing the requirements on mesh quality introduced by existing finite volume solvers and alleviating the need for time-consuming manual procedures for mesh generation to be performed by specialised technicians.

This research developed a conceptual model for the hospitality industry based on the employee-organization relationship using the social exchange theory as the theoretical framework. This study aims to consider perceived organizational support as the psychological empowerment antecedent, while work engagement and service-oriented organizational citizenship behavior were considered as its outcome. This study also tested psychological empowerment as a mediator of these relationships.

Data were gathered from a sample of frontline hotel employees and analyzed through partial least squares structural equation modeling. A total of 242 completed and validated questionnaires were used for the analysis.

Perceived organizational support had a significant relationship with psychological empowerment (through meaning, competence, self-determination and impact), which also had a significant relationship with work engagement (through meaning and impact) and service-oriented organizational citizenship behavior (through meaning, self-determination and impact). Psychological empowerment partially mediated the relationship between perceived organizational support with work engagement and service-oriented organizational citizenship behavior.

Although psychological empowerment is receiving further empirical attention in the hospitality field, little is known about its antecedents and outcomes. Hence, this research extends previous studies using the social exchange theory to fill these literature gaps and create a conceptual model for the hospitality industry based on the employee-organization relationship.

This paper aims to examine the relationship between individual bicultural identity and attitudes toward diversity. The authors also theorize and test the mechanism through which individual bicultural identity will be more likely to result in positive attitudes toward diversity.

The authors collected survey data drawing from two different samples and two different measures of attitudes toward diversity. To test the hypotheses, the authors conducted structural equation modeling analyses.

The authors found that individual bicultural identity increases positive attitudes toward diversity and cultural intelligence partially mediates this relationship. Individual bicultural identity increases positive attitudes to others not necessarily known to us.

The authors integrate the cultural intelligence framework and the common in-group identity model in assessing the role of cultural intelligence in both individual bicultural identity and attitudes toward diversity.

Analizamos la relación entre la identidad individual bicultural y las actitudes hacia la diversidad. También discutimos y probamos los mecanismos a través de los cuales, es más probable que una identidad individual bicultural se asocie con una actitud positiva respecto a la diversidad.

Recopilamos encuestas con dos muestras distintas y usando dos medidas diferentes de actitudes en torno a la diversidad. Para probar las hipótesis, llevamos a cabo un análisis del modelo de ecuaciones estructurales.

Encontramos que la identidad individual bicultural aumenta las actitudes positivas hacia la diversidad y que la inteligencia cultural parcialmente media esta relación. La identidad individual bicultural aumenta las actitudes positivas hacia las demás personas, que no necesariamente conocemos.

Integramos el marco de la inteligencia cultural y el modelo de identidad común en grupo para evaluar el rol de la inteligencia cultural tanto en la identidad individual bicultural como en las actitudes en torno a la diversidad.

Examinamos a relação entre a identidade bicultural individual e as atitudes em relação à diversidade. Além disto, teorizamos e testamos o mecanismo através do qual a identidade bicultural individual terá maior probabilidade de levar a atitudes positivas em relação à diversidade.

Coletámos dados de pesquisa a partir de duas amostras diferentes e duas medidas diferentes de atitudes em relação à diversidade. A fim de testar as hipóteses, realizamos análises de modelagem de equações estruturais.

Descobrimos que a identidade bicultural individual acrescenta as atitudes positivas em relação à diversidade, e que a inteligência cultural medeia parcialmente esta relação. A identidade bicultural individual acrescenta as atitudes positivas em relação aos outros não necessariamente conhecidos por nós.

Integramos o quadro da inteligência cultural e o modelo de identidade intragrupo comum na avaliação do papel da inteligência cultural tanto na identidade bicultural individual como nas atitudes em relação à diversidade.

This paper aims to disclose some mechanisms whereby job engagement can be created in a hospitality context. A study was conducted to examine the relationships among high-performance work practices (HPWPs), empowering leadership behaviors, psychological empowerment and engagement.

A theoretical serial mediation model was developed to examine the proposed relationship. The hypotheses were tested using regression analysis with bootstrapping. In total, 340 hotel workers participated in this study.

Both empowering leadership and psychological empowerment were found to be independent mediators of the HPWPs–engagement relationship; in addition, empowering leadership and psychological empowerment mediated this relationship serially.

Results suggest that hospitality organizations should implement HPWPs and encourage empowering leadership behavior in their managers to create a work context that fosters psychological empowerment. These strategies will, in turn, generate employee job engagement. A richer, deeper understanding of various antecedents of engagement is the main theoretical contribution of this work.

This research stresses the importance of specific organizational conditions and managerial strategies in achieving psychological fulfillment of hospitality employees. In sum, the present study provides important insights for managers and human resource managers in the hospitality industry who seek to foster empowered, engaged employees.

The findings suggest that HPWPs are associated with employee engagement through a serial mediation model with two mediators. No research to date has used this nascent methodology to explore the association between HPWPs and engagement.

This paper gives a review of the finite element techniques (FE) applied in the area of material processing. The latest trends in metal forming, non‐metal forming and powder metallurgy are briefly discussed. The range of applications of finite elements on the subjects is extremely wide and cannot be presented in a single paper; therefore the aim of the paper is to give FE users only an encyclopaedic view of the different possibilities that exist today in the various fields mentioned above. An appendix included at the end of the paper presents a bibliography on finite element applications in material processing for the last five years, and more than 1100 references are listed.

The purpose of this paper is to understand how the nationality and the sport education system could affect the entrepreneurial intentions (EI) of undergraduate sport science students in two different countries.

A total of 249 undergraduate sport sciences (SS) students from Spain and Lithuania were analysed. The EI questioner questionnaire by Liñán and Chen (2009) was used to compile the data during the 2016-2017 academic year.

There are significant differences between the sport science students of Spain and Lithuania. The Lithuanian students have significantly higher means in the variables of EI, perceived behaviour control and professional attraction. Moreover, the variables that predict EI are different, and certain path coefficients of the variables are also significantly different.

The sample originates from one university in each country; therefore, these results may not be generalisable to the entire population.

The SS degrees in Lithuania and Spain should follow different educational policies with the objective of fostering EI and increasing the number of entrepreneurs.

Creating adequate educational policies to foster entrepreneurship in sports across countries could improve the number of entrepreneurs in the sports sectors; thus, the youth unemployment rate will decrease.

There has been no previous research that analyses the EI of sport science students across contexts through the theory of planned behaviour. Moreover, there are no studies that compare the EI of university students between Spain (Western Europe) and Lithuania (Eastern Europe).

This study aims to investigate direct and indirect (via perceived caring climate) links between spiritual leadership and hazing at work in the hospitality context. The authors also test the role of employee interpersonal justice values as a boundary condition.

The authors collected time-lagged data from 441 newcomers and their 441 peers (existing hotel employees) and analyzed the data using structural modeling equation in Mplus (8.6).

The authors found a negative relationship between spiritual leadership and hazing behaviors. Further, perceived caring climate mediated the relationship between spiritual leadership and hazing behaviors. The results also provided support for employee interpersonal justice values as the boundary condition on both the direct relationship between spiritual leadership and perceived caring climate and the indirect relationship between spiritual leadership and workplace hazing.

The authors suggest that there is a value in having organizational leaders who demonstrate spiritual leadership behaviors. This will enhance hospitality employees’ perceptions of a caring climate and undermine their engagement in hazing behaviors.

This study makes an important contribution to the nascent literature on workplace hazing behaviors and spiritual leadership in the hospitality context. The study is also noteworthy because it provides important insights into the antecedents and outcomes of perceived caring climate, an important contextual resource that has imperative implications for hospitality employees’ hazing behaviors.

The purpose of this paper is to test whether investor sentiment is a significant predictor of future Mexican stock market returns. It also estimates the dynamic correlation between investor sentiment and equity returns. Finally, it examines if investor sentiment innovations impact unexpected returns for a variety of portfolios.

This study utilizes predictive regressions to determine if sentiment can predict Mexican equity returns. Multivariate GARCH models are estimated to examine the time-varying correlations between investor sentiment and equity returns.

The results show that Mexican investor sentiment is a significant predictor of Mexican equity returns for up to 24 months ahead. The findings show that high levels of sentiment today are associated with lower equity returns over the near term. Furthermore, multivariate GARCH estimations indicate that the correlation between investor sentiment and equity returns is not static and varies considerably over time. Finally, the findings indicate that sentiment innovations are significantly correlated with unexpected returns, reinforcing the notion that unexplained sentiment fluctuations lead to unexplained changes in stock market returns. Overall, these results suggest that investor sentiment is a significant source of risk for the Mexican stock market.

This study seeks to further our understanding of how behavioral factors influence and predict Mexican equity returns.