Wisdom of the crowd and stock price crash risk: evidence from social media

Review of Quantitative Finance and Accounting - In this study, we investigate the impact of social media on future stock price crash risk. A stock price crash occurs when managers hoard bad news...     

Give your hunger a new option: Understanding consumers' continuous intention to use online food delivery apps using trust transfer theory

The recent growth of online food delivery apps (OFDAs) centralized the restaurant's business in electronic distribution platforms. Recently, a few researchers have attempted to understand consumer behaviour towards using OFDAs. However, various aspects related to the usage of OFDAs have not been explored. Drawing from trust transfer theory, the purpose of this study is to fill this gap by investigating the trust transfer from OFDAs to restaurants and to address the boundary condition of trust transfer by examining the moderating effect of perceived effectiveness of dispute resolution (PEDR) between trust in OFDAs and trust in a restaurant. The model was tested via structural equation modelling (SEM) using data obtained from 836 users of OFDAs through structured questionnaire. The results show that trust in OFDAs positively influence the trust in restaurant, which ultimately leads to the consumers' continuous purchase intention. Further, PEDR positively moderates the relationship between trust in OFDAs and trust in a restaurant. Additionally, disposition to trust and online reviews significantly develops consumer trust in OFDAs. The present research makes substantial theoretical and practical contributions as it develops a trust transfer mechanism by considering an emerging mobile-commerce field. The study provides a first theoretical outlook on consumers' continuous intention to use OFDAs, using trust transfer theory, which has not been considered so far. The findings provide information for food delivery platforms on how to manage conflict resolution to succeed in the market and help restaurants in selecting the most effective food delivery platforms with which to collaborate.     

Zero leverage puzzle: Do labour laws matter?

Exploiting the staggered passage of labour protection laws in the United States, we find that higher labour adjustment costs increased the likelihood of observing zero leverage firms by 22%. This effect is significantly larger in states with stronger unionization, in industries with higher volatility and concentration, and in firms with higher labour intensity. Both within-firm changes in debt policies and higher propensity of newer firms to be debt-free are important in explaining these patterns. Overall, our work contributes to the literature on the relation between financial and labour markets by highlighting the role of labour laws in explaining the zero-leverage puzzle.     

Perspective on early internationalizing firms: Three decades of international entrepreneurship developments

Journal of International Entrepreneurship -     

Social externalities of women empowerment: Evidence from suffrage movements of late nineteenth and early twentieth century United States

Previous literature suggests that empowering women is associated with children's improved outcomes. However, little is known about its effects on children's later-life crime and incarceration. We argue that women empowerment through suffrage law changes during the late nineteenth and early twentieth centuries in the US generated incentives for women to invest in their children's human capital. The accumulated human capital then has the potential to reduce future incarceration of children. We use full-count censuses 1920–1930, implement a difference-in-difference framework, and empirically show that childhood exposure to suffrage laws is associated with considerable reductions in incarceration. The effects appear to be primarily driven by decreases in male and Black incarceration. The balancing tests rule out the concern that the effects are driven by demographic compositional changes or endogenous changes in other state-level characteristics. Furthermore, an event-study analysis rejects the concern that the effects are driven by preexisting trends in incarceration among exposed cohorts. The findings of this research note offer informative implications for overlooked externalities of women empowerment in a historical setting.     

The evolving international entrepreneurship orientations and international entrepreneurship capital in the rapidly changing and digitizing international environments

Journal of International Entrepreneurship - The relationship between entrepreneurial orientations and internationalization has been examined extensively, but the recent developments in the rapidly...     

International entrepreneurship research agendas evolving: A longitudinal study using the Delphi method

Journal of International Entrepreneurship - The heterogeneity of research topics in international entrepreneurship (IE) makes the identification of a convergent research agenda difficult....     

An alternative to shareholder capitalism? A review of Alex Edmans' “Grow the Pie: How Great Companies Deliver Both Purpose and Profit”

Alex Edmans' “Grow the Pie: How Great Companies Deliver Both Purpose and Profit” provides an alternative approach to business called Pieconomics. Profits to shareholders play a critical role in Pieconomics (similar as in shareholder capitalism), but the goal of an enterprise is to maximize the social value it creates (somewhat similar as in stakeholder capitalism). This review discusses and critically evaluates this thesis.     

The emergence of international small digital ventures (ISDVs): Reaching beyond Born Globals and INVs

Journal of International Entrepreneurship -