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This paper attempts to examine the impact of merger on the stock returns and economic value added (EVA) of acquiring firms to know if the mergers are successful corporate restructuring strategies for the firms.

In total, 108 Indian firms are studied using paired sample t-test and Wilcoxon signed rank test for comparing the EVA of acquiring firms in short, medium and long term after merger. The effect of merger announcements on stock returns is analyzed by way of event study. An event window of −20 to +20 is taken and an estimation window of 256 (-276 -20) days is used in the study.

The authors find that mergers lead to significant improvement in the EVA of acquiring firms. However, the increase in financial performance and EVA is witnessed only in long term. The authors did not find any significant impact of merger announcement on the stock returns of acquiring firms.

The study is a first of study's kind, which evaluates both short-term (using event study methodology) and long-term (using EVA) impact of value addition to an acquirer after Merger & Acquisition (M&A). The study contributes to existing literature on the signaling theory of announcement of M&As and synergy gain theory of completed M&As by providing evidence from the context of an emerging market like India.

The purpose of this study is to test the effect of entrepreneurship education programs (EEPs) on the individual entrepreneurial orientation (IEO) by considering the innovativeness, proactiveness and risk-taking dimensions of undergraduate students and the role of these dimensions on the relationship between program inspiration (PI) and entrepreneurial intention (EI).

This study uses a pre- and post-test analysis with data from 1,423 undergraduate students from two emerging countries in Latin America: Colombia and Ecuador. To verify the effect of the EEP on innovativeness, proactiveness and risk-taking at two-time points, the analysis of median for the difference of two paired populations (Sign Test and the Wilcoxon signed-rank test) was used. In addition, structural equation modeling analysis under the covariance and multigroup approach was applied to test the relationship between PI, IEO and EI.

The results of this study show that the EEP enhances innovativeness, proactiveness and risk-taking whose effects are more prominent in Ecuadorian students. Equally importantly, the EEP benefits represented in PI translate into higher EI through the mediating effect of the IEO dimensions for both the Colombian and Ecuadorian contexts, where the findings suggest no significant differences between two groups.

The findings of this study contribute to a better understanding of entrepreneurship education's role in entrepreneurial competence's development and intention by revealing the role of IEO dimensions. This study is one of the first studies that applies the IEO to contribute to the literature on the relationship between entrepreneurship education and intention from an emotional entrepreneurial perspective.

In recent years, the frequency and severity of cybersecurity incidents have prompted customers to seek out specialized insurance products. However, this has also presented insurers with operational challenges and increased costs. The assessment of risks for health systems and cyber–physical systems (CPS) necessitates a heightened degree of attention. The significant values of potential damages and claims request a solid insurance system, part of cyber-resilience. This research paper focuses on the emerging cyber insurance market that is currently in the process of standardizing and improving its risk analysis concerning the potential insured entity.

The authors' approach involves a quantitative analysis utilizing a Likert-style questionnaire designed to survey cyber insurance professionals. The authors' aim is to identify the current methods used in gathering information from potential clients, as well as the manner in which this information is analyzed by the insurers. Additionally, the authors gather insights on potential improvements that could be made to this process.

The study the authors elaborated it has a particularly important cyber and risk components for insurance area, because it addresses a “niche” area not yet proper addressed in specialized literature – cyber insurance. Cyber risk management approaches are not uniform at the international level, nor at the insurer level. Also, not all insurers can perform solid assessments, especially since their companies should first prove that they are fully compliant with international cyber security standards.

This research has concentrated on analyzing the current practices in terms of gathering information about the insured entity before issuing the cyber insurance policy, level of details concerning the cyber security posture of the insured entity and way such information should be analyzed in a standardized and useful manner. The novelty of this research resides in the analysis performed as detailed above and the proposals in terms of information gathered, depth of analysis and standardization of approach made. Future work on the topic can focus on the standardization process for analyzing cyber risk for insurance clients, to improve the proposal based also on historical elements and trends in the market. Thus, future research can further refine the standardization process to analyze in more depth the way this can be implemented and included in relevant legislation at the EU level.

Proposed improvements include proposals in terms of the level of detail and the usefulness of an independent centralized approach for information gathering and analysis, especially given the re-insurance and brokerage activities. The authors also propose a common practical procedural approach in risk management, with the involvement of insurance companies and certification institutions of cyber security auditors.

The study investigates the information gathered by insurers from potential clients of cyber insurance and the way this is analyzed and updated for issuance of the insurance policy.

The purpose of this paper is to use Bourdieu’s Theory of Capital–Field–Habitus to explore how refugees, asylum seekers and migrants accumulate and mobilise social, cultural, symbolic and economic capital to find meaningful work in the Australian construction industry.

The paper reports the results of a survey of refugees, asylum seekers and migrants who have either successfully or unsuccessfully searched for employment in the Australian construction industry.

The findings dispel widely held negative stereotypes of about this group by describing a highly capable workforce which could address significant skills shortages in the industry, while concurrently diversifying the workforce. However, it is found that refugees, asylum seekers and migrants face considerable barriers to finding meaningful employment in the construction industry. In circumventing these barriers, education institutions, charities and community-based organisations play an especially important role, alongside friends and family networks. They do this by helping refugees, asylum seekers and migrants accumulate and deploy the necessary capital to secure meaningful work in the construction industry. Disappointingly, it is also found that the construction industry does little to help facilitate capital accumulation and deployment for this group, despite the urgent need to address diversity and critical skills shortages.

Employing Pierre Bourdieu’s Theory of Capital–Field–Habitus, the findings make a number of new theoretical and practical contributions to the limited body of international research relating to the employment of refugees, asylum seekers and migrant workers in the construction. The results are important because meaningful employment is widely accepted to be the single most factor in the successful integration of refugees, asylum seekers and migrants into a host society and the construction industry represents an important source of potential employment for them.

This study proposes an analysis of the performance of companies that have assumed the responsibility of facilitating the digitalization of economic activities. Because of their potential to accelerate digitization, these companies have been financially supported. The monitoring of the performances recorded by these companies, including the evaluation of the impact of different determining factors, meets both the needs of the financiers (concerned with the evaluation of the efficiency of the use of nonreimbursable financing) and the needs of continuous improvement of the activities of the companies in the field.

The study assesses performance dynamics and the impact of its determinants. The model allows achieving a simplified vision of performance and its determinants, supporting decision-makers in the management process. The construction of an estimation model based on the multiple regression method was considered. Robustness tests were performed on the results, using parametric and nonparametric tests.

The results of the analysis at the level of the extended sample indicated that, during the analyzed period, the economic and commercial performances decreased, and significant influences in this respect include the financing structure, sales dynamics and volume of receivables. The analysis at the level of the restricted sample confirmed these interdependencies and provided additional evidence of the impact of other determinants.

The study contributes both to performance research and to the assessment of the prospects for accelerating digitalization in support of economic activities. Since the empirical research was carried out on a sample of Romanian companies that provide services in information technology, which accessed nonreimbursable financing, the representativeness of the results is limited to this sector. For the analyzed sample, the study provides support for improving performance.

The results of the study prove to be useful from a microeconomic and macroeconomic perspective as well, as they provide evidence on the performance of companies that have implemented information and communication technology (ICT) projects and on the efficiency of the use of non-reimbursable funding dedicated to business support.

The study fills the literature gap regarding the performance of companies that have developed ICT projects and received grant funding for the implementation of these projects. The literature review indicated that there are few studies conducted on these companies, which did not include Romanian companies.

This study aims to explore the impact of carbon neutral announcements on “stock market value” of publicly listed companies in China.

The event study approach is adopted. Market, market-adjusted, Carhart four-factor model and a cross-sectional regression model are employed to examine the impacts of carbon neutral announcements on “stock market value” of Chinese companies based on data from 188 carbon neutral announcements.

Carbon neutral announcements positively impact Chinese shareholder value. Carbon neutral announcements at the strategic level have a more positive and significant impact on Chinese stock market value. Innovative carbon neutral announcements do not significantly cause Chinese stock market reactions. Companies have more positive and significant stock market reactions when the companies make carbon neutral announcements that reflect high supply chain network resilience and heterogeneity and strong supply chain network relationships.

The findings uncover the business value of carbon neutral activities and provide operations managers in developing countries insights into how to improve enterprises' market value by actively implementing carbon neutral activities.

This paper is the first trial to apply an event study to examine the relationship between carbon neutral announcements and Chinese stock market value from the perspective of announcement level and type and supply chain networks. This paper introduces corporate reputation theory and enriches the application of corporate reputation theory in the field of low-carbon environmental protections and supply chains.

The ultimate objective of this study is to compare the impact of face-to-face and online flipped learning on students' academic achievements and their perspectives on learning and teaching, offering valuable insights to the field.

The study utilized a quasi-experimental research method that involves pre-test and post-test control groups.

The results indicated that face-to-face and online flipped learning positively impacted learning, with comparable contributions to academic achievement. However, we found that online flipped learning did not affect students' beliefs about learning and teaching, while face-to-face flipped learning positively influenced them.

As distance learning becomes increasingly important in our modern era, this research aims to explore the use of active learning methods, including discussion, writing, animation, drawing, association, analysis, knowledge measurement and games, in virtual learning environments, such as online flipped learning. The study seeks to enhance the existing literature on the impact of face-to-face and online flipped learning models on student success. Additionally, it aims to address a significant gap in the literature by determining the effect of these models on students' epistemological and pedagogical beliefs, which can impact their motivation, learning outcomes, academic achievements and decision-making processes.

Research internships are integral components of undergraduate programs that nurture students' skill sets. However, the current trend of these internships adopting a direct apprenticeship model, often termed “cookbook” laboratory sessions, falls short of cultivating 21st-century skills. Therefore, this study proposes an innovative Outcomes-directed Research Internship Model (ODRIM) designed to enhance research competencies.

This study introduces a pioneering research internship model by integrating the course-based undergraduate research experience (CURE) framework with principles rooted in outcomes-based education (OBE). To evaluate its effectiveness and compare it with traditional research internship models (TRIMs), a two-group pretest-posttest design was utilized. Statistical analysis was performed on data collected from 66 participants to assess their research competencies.

The results revealed a significant positive difference in utilizing the tailored innovative ODRIM track (pre-mean = 17.525, post-mean = 19.875; p = 0.009) compared to the TRIM track (pre-mean = 19.769, post-mean = 19.615; p = 1.000) in enhancing overall student research competency. Specifically, this innovative internship model notably enhanced students’ abilities in conducting research, showcasing technical skills, collaborating within teams, and disseminating research outcomes, encompassing the composition of research articles and reports.

This tailored approach to the “Research Internship” encourages a harmonious blend of hands-on, inquiry-based learning and clear, measurable learning goals. It not only cultivates an immersive and thorough research experience to improve students’ research competencies, but also guarantees a concentrated alignment with predetermined research learning objectives.

The purpose of this study is to compare market reactions to the change in the demand by index funds between large and small company stocks by examining the transition of the S&P 500, S&P 400 MidCap and S&P 600 SmallCap indexes from market capitalization to free-float weighting. This unique information-free event allows not only avoiding confounding information signaling and investor awareness effects but also comparing the effect of the decrease in demand on stocks of different sizes.

This study uses the event study methodology to calculate abnormal returns and trading volume around the full-float adjustment day. It also tests for significant changes in institutional ownership and liquidity. Multivariate regressions are used to examine the relation of liquidity changes and price elasticity of demand to the cumulative abnormal returns around the full-float adjustment day.

This study finds significant decreases in stock price accompanied with significant increases in trading volume on the full-float adjustment day, and significant gains in quasi-indexer institutional ownership and liquidity. The main finding is that cumulative abnormal returns around the event period are related to changes in the number of quasi-indexer and transient institutional shareholders, not to changes in liquidity or price elasticity of demand.

This study provides the first comprehensive comparison analysis of stock market reactions to the decline in demand between large and small company stocks. As an important implication for future studies of the index effect, changes in institutional ownership should be considered in the analysis.

Positive-framed and negative-framed messages were delivered to examine the effect of framing on intertemporal decisions through lab experiments while holding the level of financial literacy constant. The three big questions adopted by Lusardi and Mitchell were utilized to assess the financial literacy of our subjects before they were asked to complete 20 incentivized intertemporal decisions. A small, delayed reward and a slightly bigger one were incorporated into the intertemporal decisions with a delay of 30 days. The ordinary least square (OLS) shows that the negative relationship between financial literacy and discount rates was held when the delayed reward was small. Interestingly, when the delayed reward became slightly bigger, their discount rates were reduced significantly with the negatively framed message. These findings suggest that the negatively framed message can motivate individuals to save for a greater return in the real world. Lastly, subjects with the highest level of financial literacy were not responsive to the magnitude effect, proving that a financial literacy program is essential to strengthen the individual's financial plan and reduce their discount rates in the developing country context.