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The purpose of this paper is to investigate whether sentiment and mood, which are distinct theoretical concepts, can also be distinguished empirically.

Using a sample of German small-cap stocks and linear techniques, the effect of sentiment and mood on short-term abnormal stock return following earnings announcements is tested separately.

Mood tends to be a positive factor in predicting short-term abnormal stock return, as its biologically based impact uniformly affects the risk aversion of all market participants. Notably, negative mood influences stock return significantly negatively. Sentiment is no factor, however, as its cognitively based impact affects only unsophisticated investors, namely, their cash-flow expectations.

As the sample is restricted to small-cap stocks from a single stock market and only two proxies of sentiment and mood, respectively, are used, the findings should be generalized with caution. Future research might investigate other markets and employ different proxies of sentiment and mood.

Market participants should be aware of the different effect of sentiment and mood on stock return and adjust investment strategies accordingly.

As sophisticated investors are likely to profit from the irrational behavior of unsophisticated investors, who are prone to sentiment, the financial literacy of retail investors should be enhanced.

This paper is unique in distinguishing between sentiment and mood, both theoretically and empirically. Such distinction was largely ignored by related past research.

Episodic mood disorders are often associated with alcohol dependence. Few studies have explored the contribution of episodic mood disorders to length of stay among those hospitalized with alcohol dependence syndrome. Filling this research gap could improve care for patients while minimizing hospital utilization costs. This study was a cross-sectional analysis of the National Hospital Discharge Survey. ICD-9-CM diagnosis codes were used to identify those admitted to a private or non-profit hospital with alcohol dependence syndrome, and a co-morbid diagnosis of an episodic mood disorder (n=358). Descriptive statistics were used to highlight differences in key demographic and hospital variables between those with and without episodic mood disorders. Negative binomial regression was used to associate episodic mood disorders with hospital length of stay. Incidence rate ratios were calculated. Co-morbid episodic mood disorders ([.beta]=0.31, P=0.001), referral to a hospital by a physician ([.beta]=0.35, P=0.014), and increasing age ([.beta]= 0.01, P=0.001) were associated with longer hospital stays. Hospital patients with an admitting diagnosis of alcohol dependence syndrome were 36% more likely to have a longer hospital stay if they also had a co-morbid diagnosis of an episodic mood disorder (IRR=1.36, CI=1.14-1.62). Patients admitted to a hospital with alcohol dependence syndrome should be routinely screened for episodic mood disorders. Opportunities exist for enhanced transitional care between acute, ambulatory, and community-based care settings to lower hospital utilization.

The purpose of this paper is to examine the psychological influence that the presence of music has on consumers’ evaluations of the service environment. Specifically, it investigates how emotion regulation processes and the impact of emotions/mood are linked to consumers’ evaluation of service and product quality.

An exploratory study was conducted using industry professionals in order to garner insight about the value of music and its benefits in the service environment. A field experiment was then conducted to test hypotheses.

Industry professionals offer implicit theories about the value of music. Specifically, they propose that music can be used to help customers regulate emotions and improve mood, enhance the customer experience and help in attracting new consumer segments. Results from the field experiment found that those exposed to music were likely to improve mood, express more favorable evaluations of the service and product quality of the establishment, as well as exhibit stronger intentions to continue to patronize the establishment.

Using live music in the service environment can be beneficial to organizations by improving customers’ emotional/psychological status as well as their evaluation of the consumption experience.

This research contributes to the existing literature by demonstrating how emotion regulation processes and the impact of emotions/mood are linked to consumers’ evaluation of service and product quality. Also, support for mood congruency judgment is found. Participants in the field study who had been exposed to music indicated that they made efforts to improve their mood and subsequently had more favorable judgments of service and product quality.

The goal of this study is to test the real-world use of an emotion recognition system.

The researchers chose an existing algorithm that displayed high accuracy and speed. Four emotions: happy, sadness, anger and surprise, are used from six of the universal emotions, associated by their own mood markers. The mood-matrix interface is then coded as a web application. Four guidance counselors and 10 students participated in the testing of the mood-matrix. Guidance counselors answered the technology acceptance model (TAM) to assess its usefulness, and the students answered the general comfort questionnaire (GCQ) to assess their comfort levels.

Results from TAM found that the mood-matrix has significant use for the guidance counselors and the GCQ finds that the students were comfortable during testing.

No study yet has tested an emotion recognition system applied to counseling or any mental health or psychological transactions.

This study provides empirical evidence on the existence of a mood effect in Korea Stock Market. Given the assumptions that changes in the Consumer Expectation Index and the numbers of suicides proxy for the social mood, I find that the aggregate stock market moves with the changes of investor sentiment, on average. The relation between the KOSPI and mood variables representing for investor sentiment is economically and statistically significant. For example, a 10% increase of the CEI relative to the previous month leads to a 14.7% rise of the KOSPI. The magnitude of the mood effect is even larger on the small cap stocks, especially in the KOSDAQ market. The contemporaneous changes in the KOSPI affected by the changes of investor sentiment are mostly reversed in the next month, suggesting that the mood effect is short-lived and seems to be unrelated to the fundamental information.

The purpose of this paper is to conduct a within-gender analysis and between-gender differences in seeking (personal and interpersonal) and escaping (personal and interpersonal) motivations to attend a non-traditional festival in Saudi Arabia. Specific objectives were: to conduct a within-gender analysis in motivations to attend a non-traditional festival in Saudi Arabia; and to examine between-gender differences in motivations to attend a non-traditional festival in Saudi Arabia.

Based on the data collected from 458 attendees at a non-traditional festival in Saudi Arabia, the authors employed network analysis for within-gender analysis and MANOVA and ANOVA for between-gender comparison. The network analysis served two purposes, in that it examined each item’s predictability for each gender, and analyzed the correlations among motivation items within each gender. In addition, the General Linear Model served to compare the male and female groups’ motivations to attend the non-traditional festival. The authors first performed MANOVA for each dimension and then ANOVA for each dimension’s individual items.

Within-gender analysis reveals that several sets of motivations were associated strongly for both genders. This suggests that Saudi Arabians seem to enjoy entertainment because it projects the festival mood; they want to escape both from home and work and attend the festival to relieve stress by changing their routine pace. However, gender differences were apparent in several other items, especially for the group of women. Between-group comparison analysis shows significant gender differences in several elements of motivation. Overall, personal seeking and escaping were greater for males than females. In contrast, interpersonal seeking was greater for females than males.

Entertainment seems to be a key contributor to the festival mood because entertainment and the festival mood were related closely for both genders. In fact, personal and interpersonal escaping means were greater than personal interpersonal seeking means for both genders. Indeed, opportunities exist to develop non-traditional festivals in the country further. Gender differences were identified in several items of personal seeking and escaping, and interpersonal seeking. With respect to personal seeking, men tend to seek the entertainment, festival mood and the event’s uniqueness more than do women, a finding that their higher means in personal escaping supported. It is clear that men view the festival as a way to enjoy themselves to escape from their jobs and daily stress to a greater degree than do their female counterparts. Women are more likely to seek interpersonal experiences in that they are more likely to enjoy the festival because it offers the opportunity to meet new people and spend quality time with family and friends. This study has several limitations, leading to suggestions for future research. Because seeking and escaping motivations have been used relatively little in the festival setting, future researchers should develop a valid scale of personal and interpersonal seeking and escaping motivations specifically for festivals employing both qualitative and quantitative methods. Second, while the data were collected at a single non-traditional festival, future research can use multiple sites to increase the ability to generalize the findings. Third, although this study was limited to Saudi Arabia, further research can apply seeking and escaping motivations, both at the personal and interpersonal levels, to other cultures to extend the applicability of the framework used in this study.

Non-traditional festival managers need to focus on an atmosphere that provides festivities, as many people in the Saudi Arabian culture appear to be escaping from their everyday lives to enjoy themselves and with family and friends. To appeal to male workers, festival organizers and managers need to advertise and market the events’ mood and liveliness overall with photos of workers leaving the office free of stress and looking forward to attending an event. To appeal to women who desire unique experiences that a variety of forms of entertainment provide, event managers must ensure that the entertainment is innovative and creative, and differs from what other festivals provide to attract more female attendees. Also, festival planners must focus on events that incorporate the family unit and promote the opportunity to meet new people to appeal to women in Saudi Arabia.

This is the first study to examine gender differences in festival motivations in Saudi Arabia. The relaxation of the historically strict and conservative cultural values, coupled with the country’s desire to develop its tourism and event sector, provides an ideal opportunity for future research. The authors hope that this research will stimulate further interest in the country with the goal to develop and market its tourism sector and products on the world’s stage.

This study aims to examine the association of frontal functioning with subclinical bipolar spectrum by a newly developed convenient method. We investigated subclinical bipolar tendency and frontal lobe activation during word productions using multi-channel near infrared spectroscopy. Participants: 44 healthy university students (mean ages 20.5 years old, and 29 female) gave their written informed consent, and we strictly protected privacy and anonymity was carefully preserved. A 13-items self-report questionnaire (Mood Disorders Questionnaire; MDQ) and a 16-channel near-infrared spectroscopy were used to compare frontal activations between two samples divided by median (4 points) of the total MDQ scores and to analyze correlations between relative changes of cerebral blood volume and bipolarity levels. There was no case suspected as bipolar disorders by MDQ screening (mean 3.4, max 10). Significant differences in lower activations were noted in the right and left pre-frontal cortex (PFC) with higher bipolarity scores using the specific software to analyze the NIRS waveform (P<0.05). Total MDQ were correlated significantly with frontal activation negatively in many channels; therefore, we conducted multiple linear regression to select significant frontal activations using the MDQ as a dependent variable. Stepwise method revealed that activation in left lateral PFC was negatively associated to bipolar tendency, and this regression model was significant (R2=0.10, F=4.5, P=0.04). Differences in frontal functioning suggest that subclinical bipolar tendencies might be related to left lateral PFC activations. It should be confirmed whether the identical pattern can be identified for clinical subjects with bipolar disorders.

The purpose of this paper is to examine FaceReader as a tool to compare the olfactory preferences of two selected countries. This paper examines the olfactory preferences of customers in the bakery department of a grocery store in the Slovak and the Spanish market.

The aim of this study is to examine subconscious/unconscious preferences in the selection of aromas suitable for the bakery department in the Slovak and the Spanish market. In this case, it is not a classical qualitative sensory testing of the perception of fragrances. The aim is to identify the associations of scents related to the selected sales department through images of the selected aromas. A special platform is used to obtain subconscious/unconscious feedback, which allows online collection of implicit feedback using the software FaceReader 7.

The authors noticed the different moods of the two groups of respondents when they answered the question about what they associate with the smell of bakery products. The Spanish respondents were slightly pleasantly disposed, while the Slovak respondents were slightly unpleasantly disposed. The smell of bakery products evoked more memories and emotions in the Spanish respondents than in the Slovak respondents, which can be explained by the higher pleasant mood. The main contribution of this work lies in the new opportunities to obtain feedback that can be used in marketing research and that rely not only on explicit but also implicit data. The extension of the methodological apparatus to implicit feedback presupposes some form of control of the data collected by the questionnaire. The use of biometric tools can represent an efficient alternative in terms of time and money to the use of neuroimaging tools in the selection/research of aromas for specific stores/departments.

It must be noted that the sample is small, and adequate conclusions cannot be made about entire population. Based on empirical findings and pandemic-related limitations, the authors plan to conduct similar research with real aroma samples and with even larger sample of tested respondents, considering weather, season, olfactory sensitivity (anosmia, hyposmia and normosmia) and participant fatigue (beginning and end of the week).

Today, marketers are facing the greatest challenge of how to attract consumers’ attention. Every individual has a different perception of the shopping environment based on his own experience, beliefs and attitudes. This is why new marketing techniques and approaches are becoming increasingly popular in the marketing environment.

El objetivo de esta investigación es examinar FaceReader como una herramienta para comparar las preferencias olfativas entre dos países. Concretamente, examinamos las preferencias olfativas de los clientes en el departamento de panadería de un supermercado en el mercado eslovaco y español.

El objetivo de este estudio es examinar las preferencias subconscientes/inconscientes en la selección de aromas adecuados para el departamento de panadería en el mercado eslovaco y español. En este caso, no se trata de una prueba sensorial cualitativa clásica de la percepción de fragancias. El objetivo es identificar las asociaciones de olores relacionados con el departamento de ventas seleccionado a través de imágenes de los aromas seleccionados. Se utiliza una plataforma especial para obtener comentarios subconscientes/inconscientes, que permite la recopilación en línea de comentarios implícitos utilizando el software FaceReader 7.

Observamos diferentes estados de ánimo de los dos grupos de encuestados cuando respondieron a la pregunta sobre qué asociaban con el olor de los productos de panadería. Los encuestados españoles estaban ligeramente más predispuestos hacia aromas más agradables, mientras que los encuestados eslovacos estaban ligeramente más predispuestos hacia aromas menos agradables. El olor de los productos de panadería evocó más recuerdos y emociones en los encuestados españoles que en los eslovacos, lo que puede explicarse por el estado de ánimo. La principal contribución de este trabajo radica en las nuevas oportunidades para obtener comentarios que pueden ser utilizados en investigaciones de marketing y que no solo se basan en datos explícitos, sino también implícitos. La ampliación del aparato metodológico para obtener comentarios implícitos presupone algún tipo de control de los datos recopilados mediante el cuestionario. El uso de herramientas biométricas puede representar una alternativa eficiente en términos de tiempo y dinero al uso de herramientas de neuroimagen en la selección/investigación de aromas para tiendas/departamentos específicos.

Debe tenerse en cuenta que la muestra utilizada es pequeña y no se pueden extrapolar conclusiones para toda la población. Basándonos en los resultados empíricos y con las limitaciones relacionadas con la pandemia, planeamos realizar una investigación similar con muestras de aroma reales y con una muestra aún más grande de encuestados, considerando el clima, la temporada, la sensibilidad olfativa (anosmia, hiposmia, normosmia) y la fatiga de los participantes (inicio y fin de semana).

Hoy en día, los profesionales del marketing se enfrentan al gran desafío de cómo atraer la atención de los consumidores. Cada individuo tiene una percepción diferente del entorno de compra basada en su propia experiencia, creencias y actitudes. Es por eso que las nuevas técnicas y enfoques de marketing se están volviendo cada vez más populares en el entorno del marketing.

本文旨在探讨FaceReader在比较斯洛伐克和西班牙两个国家的顾客嗅觉偏好方面的效用。我们以斯洛伐克和西班牙市场一家食品杂货店的面点部门顾客为研究对象, 考察其嗅觉偏好。

本研究的目标是探讨在斯洛伐克和西班牙市场选择适合面点部门的香气时潜在的/无意识的偏好。与传统的定性感官测试不同, 我们旨在通过选定香气的图像识别与选定销售部门相关的气味的联想, 并通过FaceReader 7软件在线收集隐性反馈。

我们观察到两组受访者在回答关于面点产品气味联想时的心境差异。西班牙受访者略带愉悦, 而斯洛伐克受访者略带不悦。西班牙受访者对面点产品的气味引起的记忆和情感更为丰富, 这可能是由更高愉悦心境所解释的。该研究的主要贡献在于提供了在营销研究中利用反馈的新机会, 该反馈不仅依赖于明确的数据, 还依赖于隐性数据。将方法学工具扩展到隐性反馈的前提是以某种形式对问卷收集的数据进行控制。在为特定商店/部门选择/研究香气方面, 相对于使用神经影像工具在时间和金钱方面的花费, 生物测定工具的使用可以作为高效替代。

由于本研究的样本量较小, 因此不能对整个人口做出充分的结论。基于经验发现和受到大流行病限制, 我们计划进行类似研究, 使用真实的香气样本, 并考虑更大规模的受试者样本, 同时考虑到天气、季节、嗅觉敏感度（嗅觉缺失、嗅觉减退、正常嗅觉）和参与者疲劳程度（周初和周末）对受试者的影响。

当今, 营销人员面临着吸引消费者注意的最大挑战。每个个体根据其自身经验、信仰和态度对购物环境有着不同的感知。因此, 在营销环境中, 新的营销技术和方法变得越来越受欢迎。

Today’s software engineers often work in teams to develop complex software systems. Therefore, successful software engineering in practice require team members to possess not only sound programming skills such as analysis, design, coding and testing but also soft skills such as communication, collaboration and self-management. However, existing examination-based assessments are often inadequate for quantifying students’ soft skill development. The purpose of this paper is to explore alternative ways for assessing software engineering students’ skills through a data-driven approach.

In this paper, the exploratory data analysis approach is adopted. Leveraging the proposed online agile project management tool – Human-centred Agile Software Engineering (HASE), a study was conducted involving 21 Scrum teams consisting of over 100 undergraduate software engineering students in multi-week coursework projects in 2014.

During this study, students performed close to 170,000 software engineering activities logged by HASE. By analysing the collected activity trajectory data set, the authors demonstrate the potential for this new research direction to enable software engineering educators to have a quantifiable way of understanding their students’ skill development, and take a proactive approach in helping them improve their programming and soft skills.

To the best of the authors’ knowledge, there has yet to be published previous studies using software engineering activity data to assess software engineers’ skills.

Understanding parental psychopathology interaction is important in preventing negative family outcomes. This study investigated the effect of paternal psychiatric history on maternal depressive symptom trajectory from birth to 12 months postpartum. Maternal Edinburgh Postpartum Depression screens were collected at 1, 6 and 12 months and fathers' psychiatric diagnoses were assessed with the Structured Clinical Interview for DSM-IV from 64 families. There was not a significant difference in the trajectory of maternal depressive symptoms between mothers with partners with history of or a current psychiatric condition or those without a condition. However, mothers with partners with substance abuse history had higher levels of depressive symptoms relative to those affected by mood/anxiety disorders or those without a disorder. Our results call for a closer look at paternal history of substance abuse when treating postpartum maternal depression.