Search results

The purpose of this study is to explain the mixed results to changes in the DJIA index documented in the literature. The authors show that economic cycles, especially recessionary periods, explain the difference in findings.

The authors examine changes in the Dow Jones Industrial Average (DJIA) from 1929 to 2019 to evaluate immediate and long-term market reactions after a component change. Using multiple event-study methodologies, the authors examine the full era, the pre- and post-exchange traded fund (ETF) windows and economic cycles using both pre and post-estimation windows.

In aggregate, DJIA additions do not present an increase in wealth; however, wealth effects are positive during expansions and negative during recessions. Deletions have a negative wealth effect. The authors find weak evidence of an indexing effect. Additions are positive post-1998, and deletions remain negative regardless of era. In the long run, firms added to the DJIA have positive abnormal returns in the second year after inclusion. Deletions in recessionary times have negative returns three years after removal, a signal of longer-term wealth decline for these firms.

The DJIA changes periodically to better represent industries relevant to the blue-chip market, and the findings have implications for fund managers and active investors.

The DJIA changes periodically to better represent industries relevant to the blue-chip market, and the findings have implications for fund managers and active investors.

Prior literature presents limited time series of data points and mixed results and implications. The authors find that the economic cycle is a driving factor that supports predicted signs and amounts of wealth change. Furthermore, the authors see limited ETF impact on DJIA changes and some impact of the choice of estimation period.

The study aims to investigate market reactions associated with the JUST 100 rankings published by JUST Capital, a non-profit organization, as well as differences in financial reporting quality and performance between selected firms and their industry peers.

This study uses a sample of 431 firms selected as the 100 America’s Most Just Companies between 2016 and 2020 by JUST Capital. This study performs both an event study to determine whether the rankings are useful to investors and cross-sectional regression analyses on the characteristics of selected firms compared to their peers.

This study finds that investors react positively to selected firms around the time of the release of the JUST 100 rankings, suggesting that the rankings are decision-useful. This study also finds that selected firms exhibit higher accounting quality and financial performance than their peers.

Rankings may not be free from bias because of JUST Capital’s ownership of an exchange-traded fund.

The findings validate the rankings as well as the methodology used by JUST Capital, as they show market participants value firms that engage in socially responsible actions through their commitment to positively impact five key stakeholder groups: employees, customers, communities, environment and shareholders.

To the best of the authors’ knowledge, this is the first study that shows the importance of the JUST 100 rankings for investment decisions. Considering the growing push for companies to disclose environmental, social and governance (ESG) activities, this study provides evidence to support ESG disclosure regulations.

The purpose of this paper is to explore how university fieldtrips progressively deepen student engagement, and explain that stage-by-stage using the organismic integration theory.

Using reflective logs, follow-up focus groups after two years and facilitator observations, this Malaysian qualitative study followed 12 business students across two three-day rainforest fieldtrips.

Students progressed toward greater – and enduring – engagement, and transferable socio-cognitive skills, via three thematic stages. Voice and self-reflection – motivated by protecting group harmony – were key, enabled by facilitator and peer encouragement.

This exploratory study invites research in specified education cultures. Further, a longitudinal, quantitative study could be designed to examine the conceptual framework developed in Figure 1.

University curricula, especially in collectivist high power distance cultures, should include fieldtrips as a particularly powerful form of experiential learning. Benefits of deeper engagement extend beyond present to future courses and the workplace. Higher student attraction/retention and employability may follow. Intrinsic motivation grows through the student–instructor interaction, watching theoretical principles in action, and having eureka moments through reflection, expression and exchange of ideas.

The research fills a gap by mapping student engagement progressively from extrinsic to intrinsic motivation along with socio-cognitive competencies. The authors reveal the centrality of voice and reflection to promote group harmony, explain the roles of facilitators and peers and show long-lasting transferable benefits to learning. Novelly, the authors provide empirical support for existing conceptual frameworks but also extend these.

This chapter explores the parental experiences of 21 mothers of young and/or adult children who have been diagnosed with developmental disabilities (DD). Specific attention is paid to mothers’ reflections on marginalization, stress, and resiliency. Intersectionality of marginalization was explored with a select number of participants who identified with minority racial groups, with the LGBTQ community, and/or as a single or young mother. Data were collected via semi-structured interviews and analyzed using the constant comparative method. Eighteen mothers reported experiencing elevated levels of stress specifically related to challenges associated with DD; the need for greater investments of time and money was emphasized. However, nearly every participant highlighted stories of resilience and acclimation to these challenges associated with raising a child with DD. Thirteen mothers overtly discussed experiences of discrimination and marginalization. Some of these scenarios included being stared at or criticized in public, being excluded from social events, and facing discrimination within school settings. Select participants from marginalized backgrounds (being as a young parent, or as Black, single, lesbian, bisexual, and/or transgender) provided insight into how layers of marginalization negatively impacted their parental experiences. These personal accounts provide additional evidence that mothers of children with DD experience courtesy stigma. In addition, they provide a holistic illustration of motherhood experiences that does not center on only negative or positive aspects. Finally, the reports of mothers who identified with multiple marginalized identities strengthen the call for additional empirical focus on intersectionality as it concerns mothers of children with DD.

The study investigates meaningful learning among higher education students using concept maps (CM) as a learning strategy. The main goals were to understand whether the introduction of CM produced changes in students' academic achievement and intrinsic motivation (IM).

In this quasi-experimental study, academic achievement was collected using achievement tests made in-class, IM through a self-reported questionnaire and the usefulness of CM using an interview. The research sample consisted of 60 undergraduate students enrolled in the first year of an undergraduate occupational therapy (OT) program of a Portuguese polytechnic institute in two different consecutive academic years. Students were assigned to 2 groups (experimental group (EG) – 23 and control group – 37). CM were introduced in the pedagogical process of the EG.

CM produced better academic achievement in the EG. Nevertheless, groups presented a decrease in the levels of IM over time.

The paper includes implications for the development of CM as a learning strategy to improve students' learning and academic achievement.

This paper fulfills an identified need to investigate the double impact of CM on academic achievement and IM in higher education students.

Groupon, an online coupon company, was one of many companies that considered an initial public offering (IPO) during what might be a second technology/internet/social media IPO boom in 2011. Some companies chose to postpone their IPOs, while others took advantage of the media attention focussed on technology companies, and in particular, social media firms. Should investors hop on the tech IPO bandwagon, or hold off to better evaluate the long-term prospects of tech companies, and in particular social media companies? Would the valuation of Groupon justify an investment in IPO shares?

The case was researched from secondary sources, using Groupon's IPO filing information, news articles about the IPO and industry research sources, such as IBIS World.

This case is appropriate for an advanced undergraduate or MBA corporate finance or investment elective. Most introductory finance classes do not have the time to cover later chapters in a finance textbook, where information about IPOs is generally found. It could also be used at the end of a core finance course, where the instructor wanted to introduce this topic through a case study of a hard-to-value internet-based company to illustrate the difficulties in setting IPO prices. The case could also be used in an equity analysis class, an entrepreneurial finance class or an investment class, to spur discussion about valuing an internet company and choosing appropriate investments for pension fund investing. This case could also be used in a strategy class, focussing on the five forces question, and eliminating the valuation question.

There is a great deal of literature about IPOs and their long-term performance. An excellent source is Jay R. Ritter's research, http://bear.warrington.ufl.edu/ritter, which has a longer time period and more data than could be contained in this case. IPO puzzles include persistent undervaluing of IPOs; in other words, the offer price is lower than, and sometimes substantially lower than, the first day close price. A second issue is the generally poorer long-run performance of companies after their IPO when compared to similar firms that did not do an IPO.

Concerns about psychological well-being (PWB) in doctoral students have grown in recent years. The purpose of this study was to explore qualitatively doctoral students’ perceptions of factors that promoted their PWB during the doctoral journey.

Nine recent doctoral graduates at an English university participated in the study. Participants recalled their experience and PWB during the doctoral journey via a life grid and semi-structured interview. The life grids were visually inspected to identify high points in PWB whilst the interview data were analysed thematically.

The analysis produced the following seven themes representing factors that participants described during periods of better PWB: accomplishments; intrinsic rewards; self-efficacy; comprehension and understanding; supervisor support; wider support network; and self-care and lifestyle.

By adopting a positive psychology approach and exploring qualitatively factors that promoted PWB in doctoral students, this study offers an alternative perspective to research on doctoral student well-being, which has largely adopted a pathological focus. As such, the study demonstrates the utility of approaching research on doctoral students’ PWB from a positive psychology perspective. Findings are discussed in relation to the extant literature, and future directions for research are outlined.

This study aims to present a bibliometric overview of articles published in the field of tourism, leisure and hospitality and analyzed by researchers mainly affiliated with European institutions.

The authors conducted a bibliometric study of journals included in the Web of Science related to the field of tourism, leisure and hospitality in 2019. The review incorporates various techniques to determine the field’s structure from a scientific and intellectual perspective.

The results are valuable for several reasons. First, they will support researchers in identifying those topics with the greatest potential for advancing research in this field. Second, they will constitute an important aid in the design of new policies for journal publishers.

This study can lead to advances in the tourism, leisure and hospitality field, as it identifies the publication trends of researchers who are mainly affiliated with European institutions. It also offers useful information for practitioners and academics in their endeavor to identify gaps in the extant literature and future trends.

No other studies have analyzed this field for a period of this length.

This study aims to explore how individual personal growth initiative (PGI) mediates the relationship between a positive error orientation and job crafting. Furthermore, it explores the moderating role of the feedback from the leader in this relationship.

Data was collected through a survey conducted on 209 international employees from multiple occupations.

A positive error orientation is indirectly related to job crafting through its relationship with PGI. Also, feedback from leadership has a negative effect on the relationship between a positive error orientation and PGI. Indeed, the mediation effect of PGI on the relationship between a positive error orientation and job crafting loses significance when the leadership feedback is high.

As far as job crafting is concerned, it is essential to develop an error management culture to promote proactive behaviors among individuals.

Although the literature tends to highlight the positive effects of receiving feedback from the leader on employee’s professional development, this paper highlights the potential detrimental effects of leader feedback on PGI, therefore opening a new interesting area that demands attention.

The purpose of this paper is to explore how Ontario principals make sense of difference within student populations and how this sensemaking influences how they do their work.

The paper reports on a qualitative study in Ontario, Canada that included 59 semistructured interviews with school principals from English public, secular school districts in Southern Ontario.

Four themes emerged in principals’ descriptions of student populations: perceiving everyone as the same, or homogeneous; perceiving visible differences associated with particular religions, race and cultures; perceiving invisible or less visible differences, such as academic differences, socioeconomic status, mental health issues, gender identity and sexual orientation; and perceiving both visible and less visible differences through an inclusive lens. When asked about how their understanding of difference influenced how they did their work, principals’ responses varied from not influencing their work at all to influencing practices and activities. Participants’ context – both personal and local – influenced some of the work they did in their role as school principal. Lastly, multiple sources of disconnect emerged between how principals understood difference and the practices that they engage in at their school site; between their sensemaking about difference and diversity and preparing students for the twenty-first century competencies as global citizens; and between principals’ understanding of difference and diversity and existing provincial policy.

Study insights not only contribute to an existing body of literature that examines principals’ sensemaking around difference, but also extend this line of inquiry to consider how this sensemaking influences their professional practice. These findings pose additional research questions about how to approach principal professional learning for inclusive and equitable education. For example, even though principals are contractually responsible for students in their care, why is it that their efforts toward equitable and inclusive schooling appear to be limited to the school site and not the wider community?

Study findings can be used to inform principal preparation programs and professional learning opportunities. Namely, these programs should provide the skill development required as well as the time needed for principals to reflect on their local context and beliefs, and to consider how their local context and beliefs are connected to larger societal efforts to create a more inclusive and equitable society.

School leadership is integral to creating and building more inclusive and equitable public education that improves all students’ success at school. As Ontario’s general population becomes increasingly diverse, it is imperative that principals support success for all students; this can only happen if they understand the complexity of difference within their student populations and beyond, how to address these complexities and how their own understandings and beliefs influence their leadership practices.

Although other papers have examined how principals make sense of difference and diversity in student bodies, this paper also explores how this sensemaking influences how school leaders do their work.