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Expanding on the real-world financial market framework and considering the current market turmoil, with cryptocurrencies (where contracts for difference (CFDs) are extremely common) (Hasso et al., 2019) displaying unprecedented volatility, the authors aim to test in an online laboratory setting whether displaying a risk warning message is truly effective in reducing the level of risk taken and whether the placement of this method makes a difference.

To explore the impact of risk disclosure framing on risk-taking behavior, the authors conducted an online pair-wise lottery choice experiment. In addition to manipulating risk awareness through the presence or absence of risk warning messages of varying intensity, the authors also considered dynamic inconsistency, cognitive ability and questionnaire-based financial risk tolerance (FRT) scores. The authors aimed to identify potential relationships between these variables and experimentally elicited risk aversion. The authors' study offers valuable insights into the complex nature of risky decision-making and sheds light on the importance of considering dynamic inconsistency in addition to risk awareness and aversion.

The authors' results provide statistical evidence for the efficacy of informative and very salient messages in mitigating risky decision, hinting at several policy implications. The authors also provide some statistical evidence in support of the relationship between cognitive abilities and risk preferences. The authors detect that individual with low cognitive abilities scores display great risk aversion.

This study investigates the impact of risk warning messages on investment decisions in an online laboratory setting – a unique approach. However, the authors go beyond this and also examine the potential influence of dynamic inconsistency on decision-making, adding further value to the literature on this topic. To ensure a comprehensive understanding of the participants, the authors collect data on cognitive ability and FRT using questionnaires. This study provides a simple and cost-effective framework that can be easily replicated in future research – a valuable contribution to the field.

This paper aims to address the question: What is the distribution of value (in pounds) created in a sample of domestic takeovers in the United Kingdom from 2013 to 2020 among acquirer and target stockholders?

The author employs a traditional event study methodology to calculate the percentage excess returns of companies on the announcement date. These returns are then converted into pound-denominated excess returns using the companies' market capitalizations. This allows the author to estimate the synergies of the mergers and acquisitions (M&As) and how they are allocated between acquirers and targets. This innovative transformation from percentage to pound excess returns establishes a new ratio methodology for addressing the paper's objective.

This paper reveals that in UK takeovers, 40 percent of the synergies in pounds are allocated to the stockholders of acquiring companies, while 60 percent go to the stockholders of target companies. In other words, acquirers retain a significant portion—more than half—of the synergies generated in these domestic deals. This original finding is statistically significant at the one percent level and strongly contradicts the hypothesis that acquirers, at best, merely break even.

The evidence that UK takeovers distribute value gains nearly equally between domestic deal parties challenges the enduring conventional insight in the M&A literature. This conventional wisdom suggests that the value created by business combinations is entirely distributed to target company stockholders. Consequently, this reexamination may have broader implications, offering an alternative perspective on the motives behind business combinations. This perspective differs from the “managerial hubris hypothesis,” which aligns with the prevailing conventional insight but receives limited support in the original finding reported here.

This article aims to investigate how institutional characteristics affect the level of financial development of economies collectively and compare between developed and undeveloped economies.

A dynamic panel with 131 countries, including developed and developing ones, was utilized; the estimators of the generalized method of moments system (GMM system) model were selected because they have econometric characteristics more suitable for analysis, providing superior statistical precision compared to traditional linear estimation methods.

The results from the full panel suggest that concrete and well-defined institutions are important for financial development, confirming previous research, with a more limited scope than the present work.

Limitations of this research include the availability of data for all countries worldwide, which would make the research broader and more complete.

A panel of countries was used, divided into developed and developing countries, to analyze the impact of institutional variables on the financial development of these countries, which is one of the differentiators of this work. Another differentiator of this research is the presentation of estimates in six different configurations, with emphasis on the GMM system model in one and two steps, allowing for comparison between results.

Despite large bodies of research related to the impacts of e-commerce on last-mile logistics and sustainability, there has been limited effort to evaluate urban freight using an equity lens. Therefore, this study proposes a modeling framework that enables researchers and planners to estimate the baseline equity performance of a major e-commerce platform and evaluate equity impacts of possible urban freight management strategies. The study also analyzes the sensitivity of various operational decisions to mitigate bias in the analysis.

The model adapts empirical methodologies from activity-based modeling, transport equity evaluation, and residential freight trip generation (RFTG) to estimate person- and household-level delivery demand and cargo van traffic exposure in 41 U.S. Metropolitan Statistical Areas (MSAs).

Evaluating 12 measurements across varying population segments and spatial units, the study finds robust evidence for racial and socio-economic inequities in last-mile delivery for low-income and, especially, populations of color (POC). By the most conservative measurement, POC are exposed to roughly 35% more cargo van traffic than white populations on average, despite ordering less than half as many packages. The study explores the model’s utility by evaluating a simple scenario that finds marginal equity gains for urban freight management strategies that prioritize line-haul efficiency improvements over those improving intra-neighborhood circulations.

Presents a first effort in building a modeling framework for more equitable decision-making in last-mile delivery operations and broader city planning.

The present study aims to examine the scope and contribution of behavioural investigative advice (BIA) reports from the National Crime Agency (NCA).

The 77 BIA reports reviewed were written between 2016 and 2021. They were evaluated using Toulmin’s (1958) strategy for structuring pertinent arguments, current compliance with professional standards, the grounds and backing provided for the claims made and the potential utility of the recommendations provided.

Consistent with previous research, most of the reports involved murder and sexual offences. The BIA reports met professional standards with extremely high frequency. The 77 reports contained a total of 1,308 claims of which 99% were based on stated grounds. A warrant and/or backing was provided for 73% of the claims. Most of the claims in the BIA reports involved a behavioural evaluation of the crime scene and offender characteristics. The potential utility of the reports was judged to be 95% for informative behavioural crime scene analysis and 40% for potential new lines of enquiry.

The reports should serve as a model for the work of behavioural investigative advisers internationally.

To the best of the authors’ knowledge, this is the first study to systematically evaluate BIA reports commissioned by the NCA; it adds to previous similar studies by evaluating the largest number of BIA reports ever reviewed, and uniquely provides judgement of overall utility.

This study illustrates the economic and financial dynamics of the sector, analysing the evolution of the main ratios of profitability and financial structure of 1,559 Italian real estate companies divided into the three macro-regions: North, Centre and South, in the period 2011–2020. In this way, it is also possible to verify the responsiveness to the 2020 pandemic crisis.

The analysis uses descriptive statistics tools and the ANOVA method of analysis of variance, supplemented by the Tukey–Kramer test, to identify significant differences between the three Italian macro-regions.

The study shows the increase in profitability after the 2008 crisis, despite its reverberation in the years 2012–2013. The financial structure of companies improved almost everywhere. The pandemic had modest effects on performance.

In the future, other indices should be considered to gain a more comprehensive view. This is a quantitative study based on financial statements data that neglects other important economic and social factors.

Public policies could use this study for better interventions to support the sector. In addition, internal management can compare their company's performance with the industry average to identify possible improvements.

The research analyses an economic field that employs a large number of people, especially when considering the construction and real estate services covered by this analysis.

The study contributes to the literature by providing a quantitative analysis of industry dynamics, with comparative information that can be deduced from financial statements over the years.

Listening is often considered the cornerstone of the communication process, with feedback being a crucial skill for effective management. The primary objective of this article was to investigate the relationship between managers’ listening skills and feedback skills from their subordinates’ perspectives. Moreover, it explores the mediating effect of message-sending skills and the ability to deal with interference in this relationship.

This article deployed a quantitative, descriptive research design. The authors developed and distributed a self-administered questionnaire via non-probability convenience sampling, resulting in 304 useable responses.

The results of the main direct effect test (model 1) indicate that listening is positively associated with feedback. Model 2 established that message-sending skills did not directly mediate that relationship. On the other hand, the ability to deal with interference was found to mediate the relationship. Finally, model 4 showed the multi-mediating effect of message-sending skills and the ability to deal with interference in the relationship between listening and feedback.

As far as the researchers are aware, this paper is the first of its kind to show the ability to deal with interference as a mediating factor in a statistical model. Moreover, this study is the first to present a continuous intermediary role played by message-sending skills and the ability to deal with interference in the relationship between listening and feedback.

The purpose of this study is to compare the competition and productivity of the US freight rail transportation industry for the past 41 years (1980 ∼ 2020), which consists of the two periods, before and after the abolishment of the Interstate Commerce Commission (ICC) in 1995.

This study investigates any relationships between the market concentration index values and labor productivity values in the separate two periods, and how the existence of a regulatory body in the freight transportation market impacted the productivity of the freight rail transportation industry by using a Cobb–Douglas production function on annual financial statement data from the US stock exchange market.

This study found that, after the abolishment of the ICC: (1) the rail industry became less competitive, (2) even if the rail industry had an increasing labor productivity trend, there was a strong negative correlation between the market concentration index and labor productivity and (3) the rail industry’s total factor productivity was decreased.

This study is to find empirical evidence of the effect of the ICC abolishment on the competition and productivity levels in the US freight rail transportation industry using a continuous data set of 41-year financial statements, which is unique compared to previous studies.