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Credit default swap (CDS) spreads may not represent the accurate credit risk levels (asymmetric spread behavior) of assets with the initiation of corporate events, such as merger, spin‐off or other similar events in which one entity succeeds to the obligations of another entity. The International Swaps and Derivatives Association (ISDA) succession language for the definition of succession events misleads the CDS market participants to determine CDS spreads. The purpose of this paper is to provide a conceptual framework for the relationship between the ISDA succession language and CDS spreads in order to clarify the factors behind the asymmetric spread behavior around several corporate activities.

The authors develop a conceptual driver model to establish a link between company characteristics and succession issues. Then, a succession model to evaluate the risk levels occurring with succession issues is designed.

The ISDA succession language has an influence on CDS spreads around corporate events. The explanatory approach provides the foundation for the understanding of the relationships between succession issues caused by several corporate events, involving particularly restructuring, refinancing and/or guarantee risk, and CDS spreads. Combination of the driver model and the succession model helps to assess the potential influence of succession events on CDS spreads.

Market participants should take into consideration the effects of the ISDA succession language on CDS spreads around succession of CDS.

Prior research related to the CDS has always focused on the economic determinants of CDS spreads. This paper is the first attempt to explain the relationship between the ISDA succession language and CDS spreads.

Biosolids, the residual solids from wastewater treatment operations and once considered a waste product by the industry, are now becoming increasingly recognised as a multifunctional resource with growing opportunities for marketable use. This shift in attitude towards biosolids management is spurred on by increasing volatility in energy, fertilizer and commodity markets as well as moves by the global community towards mitigating global warming and the effects of climate change. This chapter will provide an overview of current global biosolids practices (paired with a number of Australian examples) as well as discuss potential future uses of biosolids. Additionally, present and future risks and opportunities of biosolids use are highlighted, including potential policy implications.

Two studies investigate how different structural properties of images – symmetry (vertical and horizontal) and image contrast – affect social media marketing outcomes of consumer liking and engagement.

In Study 1’s experiment, 361 participants responded to social media marketing images that varied in vertical or horizontal symmetry and level of image contrast. Study 2 analyzes field data on 610 Instagram posts.

Study 1 demonstrates that vertical or horizontal symmetry and high image contrast increase consumer liking of social media marketing images, and that processing fluency and aesthetic response mediate these relationships. Study 2 reveals that symmetry and high image contrast improve consumer engagement on social media (number of “likes” and comments).

These studies extend theory regarding processing fluency’s and aesthetic response’s roles in consumer outcomes within social media marketing. Image posts’ structural properties affect processing fluency and aesthetic response without altering brand information or advertising content.

Because consumer liking of marketing communications (e.g. social media posts) predicts persuasion and sales, results should help marketers design more effective posts and achieve brand-building and behavioral objectives. Based on the results, marketers are urged to consider the processing fluency and aesthetic response associated with any image developed for social media marketing.

Addressing the lack of empirical investigations in the existing literature, the reported studies demonstrate that effects of symmetry and image contrast in generating liking are driven by processing fluency and aesthetic response. Additionally, these studies establish novel effects of images’ structural properties on consumer engagement with brand-based social media marketing communications.

This study aims at understanding academic practice in the field of physical office environment research and providing recommendations for further enhancement of the field. It shows which effects of the physical office environment on employee outcomes are studied by which disciplines, and which methodologies are used by whom and on which variables. Existing gaps in research that are confirmed by these analyses are discussed and “assigned” to obvious, best suited combinations of future multi-disciplinary research projects to call for studies that would help practice in better decision-making.

After a systematic search and selection of studies, an exploratory analysis of 134 empirical studies from 50 different journals (and other sources) was performed. The selected studies were entered into a database with information on the empirical parameters of the study, the methodology and author information. From this database, cross-tables were built and tested with Canonical Correspondence analyses.

Results of the analyses showed that each discipline has its preferred topics and methods of research. In general, questionnaires are preferred over hard data from physical and physiological recordings. Still many important gaps exist in fully clarifying workplace effectiveness. This paper suggests which disciplines would be capable of taking up which challenges in future studies through interdisciplinary cooperation to further advance the field and corporate real estate management/FM in practice.

The Correspondence analyses not only confirmed important gaps for future research but also identified which disciplines would be best suited to take up these challenges.

This chapter focuses on the role played by both companies and universities on the dissemination of services and courses related to Business Diplomacy (BD). Special attention is given to the partnerships between companies and universities and to how BD is taught by universities around the world.

With an exploratory analysis technique, we have surveyed the websites of 22 companies and 20 universities and institutions, belonging to various countries, engaged in activities related to BD (i.e. services supply, courses at different stages of the academic curricula, workshops, seminars, training etc.).

The objective of the analysis was twofold: first, to give a better understanding of the concept of BD and of the various meanings associated with it; the results indicate that in both cases the practiced concept of BD is converging to the canonical set of diplomatic functions; second, to offer useful insights to practitioners in the field of BD by looking at the type of BD courses covered by the academic curricula of various universities and BD services offered by market companies.

This chapter presents a comprehensive analysis of the BD issue, going beyond its treatment as a mere auxiliary activity. It also offers a detailed overview of diplomacy’s main functions and adjuvant activities, with the purpose of advancing organisational charts’ structures inside companies, and academic syllabi offerings by universities.

This paper highlights the importance of user satisfaction in office renovation. A user-focussed renovation approach can enhance user satisfaction in offices and their functional quality while meeting energy performance goals. The purpose of this paper is to investigate users’ needs and the physical and psychological factors affecting user satisfaction, as input to office renovation projects.

The selected articles are collected from Scopus, ScienceDirect and Google Scholar. Searching was limited to the main key terms of office, work environment, and user satisfaction and comfort. The important factors were searched through empirical-based international literature mainly. Based hereupon, a guide will be developed for the analysis and evaluation of user satisfaction in office renovations.

From a comprehensive overview, the findings present ten main factors to increase user satisfaction in office renovation. These are associated with physical and psychological satisfaction and comfort. In addition, the influential factors were categorised into three levels based on needs theories to organise the hierarchy of priorities.

This research adds to the body of knowledge about which factors are important for user satisfaction, based on what previous research has found in that field. This is important to improve the sustainability in use.

User satisfaction is often studied through separate aspects: health and indoor climate vs functionality and productivity. This paper examines overall user satisfaction of workplaces by integrating the perspectives of physical and psychological conditions, and by providing insight into the priority of satisfaction factors.

This paper aims to understand the implementation of a circular economic business where animal manure is used to produce biogas and alternative fertilizer in a regional network of manure suppliers and biogas producers and to reveal the impacts of five variables (manure quantity, transportation distance, manure dry content, manure price and manure discharge price) on the economic sustainability of manure-based biogas supply chains.

An enterprise input-output approach is used to model physical and monetary flows of the manure-based biogas supply chain. Computational experiments are performed on all variables to identify under which conditions the cooperation is beneficial for all actors.

The cooperation is profitable for a large-scale farm (>20,000 t/year) if biogas producer (b) pays farmer (f) to receive its manure (5 €/t) or if f sells manure for free and manure disposal costs are >10 €/t. Cooperation is always profitable for b if f pays b to supply its manure (5€/t). If b receives manure for free, benefits are always positive if b is a medium-large-scale plant (>20,000 t/year). For a small-scale plant, benefits are positive if manure dry content (MDC) is ≥12 per cent and transportation distance is ≤10 km.

The paper adds value to the biogas production research, as it makes holistic analysis of five variables which might change under different policy and geographical conditions. The investors in biogas production, suppliers and transportation companies can find correspondence to empirical findings for their own site-specific cases.

Organisational strategy becomes reality by connecting organisation’s resources and capabilities in daily operations, and physical workspace is one of the environments in which this takes place. This study aims to explore to what extent factors required for successful strategy implementation are considered when designing, using and managing workspaces of knowledge-intensive organisations.

For the study, managers in 25 large and medium-sized knowledge-intensive organisations were interviewed. The semi-structured interviews focused on organisation’s strategy, strategy implementation practices and workspace design and management. To form a comprehensive framework of strategy implementation success factors for the study, the factors of 11 frameworks were analysed, grouped and renamed.

Current workspace design, usage and management mainly support human-related strategy implementation factors. However, both organisation- and human-related factors are needed for the strategy implementation to be successful. Therefore, the organisations studied may have unused potential in their workspaces to ensure strategy-aligned operations and behaviour.

Due to the potential imbalance between organisation- and human-related strategy implementation factors, a more holistic, organisational-level approach to workspace design, usage and management is recommended to ensure the success of strategy implementation.

Workspaces have extensively been studied from individual strategy implementation factors’ as well as employees’ perspectives. Prior to this work, there are only few studies exploring workspace in the holistic, strategy implementation context.

The aim of this study is to assess the mediating effect of source appearance (SA) and self-influencer congruence (SIC) on the relationship between visual content (VC) and customer engagement (CE) towards mobile advertisement.

This study uses a quantitative approach to test the proposed model based on the stimulus–organism–response (SOR) theory. The non-probability purposive sampling technique was used to collect data from Pakistani mobile users through a self-administered questionnaire.

The study results prove that VC alone cannot generate mobile users’ engagement. SA is the key in this regard, which has a relatively higher importance compared to SIC. Furthermore, the serial mediation effect of SA and SIC on CE shows that attractive sources are likely to induce higher SIC and subsequent CE.

The results reveal that without a pleasing SA and positive SIC, mobile users skip the ads by perceiving them to be irritating or interruptive. Mobile ads might cost relatively less, but the advertisers should understand the significance of the SA toward minimizing the mobile advertising skepticism.

Advertisers can enhance the user’s engagement on mobile devices by addressing both the SA and SIC in their VC. The combined effect of both the SA and SIC on CE has not been assessed before. Furthermore, this study has used the SOR mechanism to examine CE.

El objetivo general de esta investigación es evaluar el efecto mediador de la apariencia de la fuente (SA) y la congruencia del auto-influencer (SIC) en la relación entre el contenido visual (CV) y el compromiso del cliente (CE) hacia la publicidad móvil.

Este estudio utiliza un enfoque cuantitativo para probar el modelo propuesto basado en la teoría estímulo-organismo-respuesta (SOR). Se utilizó la técnica de muestreo intencional no probabilístico para recoger datos de usuarios de móviles paquistaníes mediante un cuestionario autoadministrado.

Nuestros resultados demuestran que el contenido visual por sí solo no puede generar el compromiso de los usuarios de móviles. La apariencia de la fuente es la clave a este respecto, que tiene una importancia relativamente mayor en comparación con la congruencia del auto-influencer. Además, el efecto de mediación en serie de SA y SIC en CE muestra que es probable que las fuentes atractivas induzcan un mayor SIC y el consiguiente compromiso del cliente.

Los resultados revelan que sin una SA agradable y una SIC positiva, los usuarios de móviles omiten los anuncios al percibirlos como irritantes o interruptores. Los anuncios para móviles pueden costar relativamente menos, pero los anunciantes deben comprender la importancia de la apariencia de la fuente para minimizar el escepticismo de la publicidad móvil.

Los anunciantes pueden mejorar la participación del usuario en los dispositivos móviles abordando tanto la AS como el SIC en sus contenidos visuales. Hasta ahora no se había evaluado el efecto combinado de la AS y el SIC en el CE. Además, este estudio ha utilizado el mecanismo del SOR para examinar el engagement del cliente.

本研究的总体目标是评估源外观（SA）和自我影响者一致性（SIC）对移动广告视觉内容（VC）和客户参与（CE）之间关系的中介效应。

本研究采用定量方法来检验基于刺激-有机体-反应（SOR）理论提出的模型。研究采用了非概率目的性抽样技术, 通过自填问卷的方式向巴基斯坦移动用户收集数据。

我们的研究结果证明, 仅靠视觉内容并不能引起移动用户的参与。在这方面, 源外观是关键, 与自我影响者一致性相比, 源外观的重要性相对更高。此外, SA 和 SIC 对 CE 的串联中介效应表明, 有吸引力的信息源可能会诱发更高的 SIC 和随后的客户参与。

研究结果表明, 如果没有令人愉悦的SA和积极的SIC, 移动用户就会认为广告具有刺激性或干扰性, 从而跳过广告。移动广告的成本可能相对较低, 但广告商应了解广告源外观对减少移动广告怀疑的重要性。

广告商可以通过在视觉内容中同时考虑广告联盟和广告投放中心这两个因素, 提高用户在移动设备上的参与度。之前从未有人评估过 “SA “和 “SIC “对消费者参与度的综合影响。此外, 本研究还使用了 SOR 机制来考察客户参与度。

The purpose of this paper is to investigate straw modification by chemical degradation generated by two forms of pretreatment, using citric acid in an autoclave and urea solution with sodium hydroxide at low temperature.

The material was digested and compared in biodigester reactors lined with natural straw, straw pretreated with citric acid, straw pretreated with urea and NaOH, and straw subjected to both the pretreatments. The amount of straw has been delimited to 0, 2.5, 5, 7.5 and 10 percent v/v, and used 20 percent v/v inoculum in all reactors, consisting of 30 percent v/v poultry litter and 70 percent swine wastewater (SW). The experiment was conducted in an incubator kept in mesophilic conditions (35°C).

The results indicate significant change in the studied material, with degradation of lignin as well as hemicellulose and cellulose exposed to further hydrolysis. Spectrophotometric methods were used for monitoring degradation. These methods were efficient in monitoring changes caused by the treatments. When the proposed pretreatments are applied to sugarcane straw, there is a significant gain in biogas production (L g VSR⁻¹). The most appropriate rates for higher methane production in the pretreatments are 2.5 and 5 percent straw-SW. The best results for the anaerobic digestion of sugarcane straw were obtained by pretreating it with citric acid.

This paper shows a new use for the sugarcane straw waste after being pretreated with acid or base for the coproduction of biogas.