Market inefficiencies surrounding energy announcements

We use sequential energy inventory announcements to shed new light on the informational efficiency of financial markets. Our findings provide clear evidence of inefficiency in crude oil futures and stock markets. This inefficiency can be exploited by sophisticated traders. We examine the effect of market liquidity on the efficient incorporation of information in this setting. We also construct a predictor that can predict inventory surprises and preannouncement returns in-sample and out-of-sample. Finally, we develop a combination forecast that can be used as a proxy for market expectations of oil inventory announcements.     

Aligning employees’ work engagement and behavioral performance with internal branding: the missing link of employees’ perceived brand authenticity

The present research examines the relationship between internal branding and employees’ behavioral performance and proposes a research model that includes employees’ perceived brand authenticity and work engagement as sequential mediators to explain the examined relationships. Structural equation modeling with partial least squares (PLS-SEM) in SmartPLS 3.0 statistical software is used to validate the proposed research model. The results of a self-administered online survey distributed to 95 frontline employees in a Kuwaiti bank confirm the positive direct effect of internal branding on employees’ behavioral performance. Interestingly, mixed results are obtained regarding the mediating effects of work engagement and brand authenticity. Overall, the results indicate that employees’ perceived brand authenticity is the missing link for internal branding and its effects on employees’ work engagement and behavioral performance. The findings provide important theoretical and practical implications for researchers and practitioners on the use of internal branding to promote the brand promise to frontline employees and support employees' brand-building behaviors.