Realizing the volatility impacts of sovereign credit ratings information on equity and currency markets: Evidence from the Asian Financial Crisis

We examine the effects of different types of sovereign rating announcements on realized stock and currency market volatilities and cross-asset correlations around periods of financial crises. Using intraday market data and sovereign ratings data for nine sample countries in the Asia-Pacific region over 1997–2001, we find that currency and stock markets react somewhat heterogeneously to various rating announcements and that stock markets are more responsive to rating news than currency markets. We find new evidence that ratings events have significant and asymmetric impacts on intraday market data and that national market attributes influence rating impacts during financial crises.     

Mapping sexual orientation research in management: A review and research agenda

Attitudes, norms, and laws regarding sexual orientation are undergoing a worldwide revolution. Managers and HR professionals play a key role in responding to these changes, and managing issues related to sexual orientation diversity in organizations. As such, the amount of management scholarship on sexual orientation has been rapidly growing to help inform practice. However, at present, the literature is fragmented across management specialty areas. This makes it difficult to have an overview of what has been learned to date, and detect research opportunities. Thus, this article aims to provide the first integrative review of sexual orientation research across the management field over 23 years. We use bibliometric techniques to (a) systematically identify and map 111 topics in this literature (map downloads from: https://bit.ly/SOTopicMap ), (b) identify topic trends and topic citation rates, and (c) derive an inductive taxonomy of major topic clusters. We then identify key theories and relationships in the literature, review key findings for scholars and practitioners, and identify future research directions. Among these, we highlight the need to incorporate sexual orientation as a standard demographic question in management research, and highlight best practices for doing so from other scientific fields.     

Capital flows and capital goods

Studying the relation between equity market liberalization and imports of capital goods, we examine one channel through which international financial integration can promote growth. For the period 1980-1997, we find that after controlling for other policies and fundamentals, stock market liberalizations are associated with a significant increase in the share of imports of machinery and equipment. We hypothesize this can be attributed to the consequences of financial integration, which allows access to foreign capital, and provide evidence consistent with this channel. Our results suggest that increased access to international capital allows countries to enjoy the benefits embodied in capital goods.     

In search of heterotopia? Motivations of visitors to an English cathedral

This paper explores visitor motivations at an English cathedral, and the role that heterotopia plays in their motives. More than a third of visitors to Chichester Cathedral appear to be motivated by a subconscious search for a spiritual experience, hidden by rational motives such as interest in history. It concludes by examining the management implications that arise from a potential lack of understanding about visitors' motivations. Cathedral managers should acknowledge their visitors' intrinsic sense of spirituality and recognise their spiritual motivations through interpretation, which should encourage them to explore their personal narratives around the emotional dimension of visiting a cathedral. Copyright © 2010 John Wiley & Sons, Ltd.