Abstract The green asset ratio (GAR) is supposed to be the central indicator for the taxonomy alignment of the bank’s assets. However, we show that GARs may differ for one and the same bank between article 8 taxonomy reporting and pillar 3 disclosures, leading effectively to two GARs. We argue that this inconsistency may lead to confusion and incredibility among stakeholders.

AbstractHotels are under increasing pressure to reduce their plastic consumption and keep holiday destinations cleaner. Tourism experts already pointed to a variety of solutions, from replacing, avoiding to waste collection campaigns with guests. This study mirrors these measures with the opinions of German consumers who, in the European Union, travel most and mainly for beach holiday. A survey (n = 630) showed that plastic prevention should be practised by holiday organisers, actively involving guests, e.g. in beach clean-ups, was least popular. Personal attitudes towards plastic avoidance had no effect, but rather women and older people were more willing to engage on holiday (max. r = 0.17). Also, agreement tended to decrease with the distance of the holiday destination (max. r = 0.11). For effective marketing, providers of plastic-free holidays should rather avoid this material than replacing it and participate in environmental protection projects on destinations and get certified for this. This most convinces diverse consumer groups, instead of demonstrating sustainability with obligations and bans.

The corporate governance structure encompasses a set of guidelines meticulously crafted to ensure that a firm operates in a manner that diligently safeguards the interests of all stakeholders. In this study, the authors examine the role of audit committee in the dividend policy of Malaysian financial firms. They collect data from a sample comprising 40 financial institutions, spanning a 13-year period from 2010 to 2022. The empirical findings gleaned from this study unequivocally affirm a statistically significant relationship between the existence of audit committee and the formulation of dividend policies within these financial institutions. Notably, audit committees have been revealed to exert a robust and statistically significant influence on dividend policy within these financial institutions. The implications of these findings extend beyond the confines of academia; they hold substantial relevance for regulatory bodies, financial institutions themselves, and their shareholders in the Malaysian context.

This research aims to understand the influence of behavioural factors on investment decisions in the Pakistan Stock Exchange (PSX). This study gathered primary data using a survey-based questionnaire from 318 individual investors. The issue being investigated in this study is how behavioural elements, such as sentiment, overconfidence, over- and under-reaction, and perceived market efficiency, affect investment choices made on the PSX, with a particular emphasis on the limited predictive power of herd behaviour. The sample data were analysed using partial least square-structural equation modelling (PLS-SEM) based approach. Results indicate that financial knowledge, sentiment, overconfidence, over- and under-reaction, and perceived market efficiency significantly affect the investment decision. Interestingly, herd behaviour does not play a significant role in predicting investment decisions. However, we are certain that this study will provide a better understanding of the relationship between behavioural factors and an investor’s investment decision in Pakistan. 

Evoked responses and oscillations represent two major electrophysiological phenomena in the human brain yet the link between them remains rather obscure. Here we show how most frequently studied EEG signals: the P300-evoked response and alpha oscillations (8–12 Hz) can be linked with the baseline-shift mechanism. This mechanism states that oscillations generate evoked responses if oscillations have a non-zero mean and their amplitude is modulated by the stimulus. Therefore, the following predictions should hold: (1) the temporal evolution of P300 and alpha amplitude is similar, (2) spatial localisations of the P300 and alpha amplitude modulation overlap, (3) oscillations are non-zero mean, (4) P300 and alpha amplitude correlate with cognitive scores in a similar fashion. To validate these predictions, we analysed the data set of elderly participants (N=2230, 60–82 years old), using (a) resting-state EEG recordings to quantify the mean of oscillations, (b) the event-related data, to extract parameters of P300 and alpha rhythm amplitude envelope. We showed that P300 is indeed linked to alpha rhythm, according to all four predictions. Our results provide an unifying view on the interdependency of evoked responses and neuronal oscillations and suggest that P300, at least partly, is generated by the modulation of alpha oscillations.

Evoked responses and oscillations represent two major electrophysiological phenomena in the human brain yet the link between them remains rather obscure. Here we show how most frequently studied EEG signals: the P300-evoked response and alpha oscillations (8-12 Hz) can be linked with the baseline-shift mechanism. This mechanism states that oscillations generate evoked responses if oscillations have a non-zero mean and their amplitude is modulated by the stimulus. Therefore, the following predictions should hold: (1) the temporal evolution of P300 and alpha amplitude is similar, (2) spatial localisations of the P300 and alpha amplitude modulation overlap, (3) oscillations are non-zero mean, (4) P300 and alpha amplitude correlate with cognitive scores in a similar fashion. To validate these predictions, we analysed the data set of elderly participants (N=2230, 60-82 years old), using (a) resting-state EEG recordings to quantify the mean of oscillations, (b) the event-related data, to extract parameters of P300 and alpha rhythm amplitude envelope. We showed that P300 is indeed linked to alpha rhythm, according to all four predictions. Our results provide an unifying view on the interdependency of evoked responses and neuronal oscillations and suggest that P300, at least partly, is generated by the modulation of alpha oscillations.

PurposeThe purpose of this study is to explore and understand, how strong financial literacy influences the cognitive biases of students in Germany while investing. Second, it also evaluates the most influential cognitive biases that students encounter when undertaking their investment decisions within this environment.Design/methodology/approachA quantitative approach is used to assess the relationship between financial literacy and students’ investment-related cognitive biases by using the frameworks proposed by Clercq (2019) and Pompian (2012).FindingsThe results advocate that the students’ financial literacy positively impacts their cognitive biases within the investment process. It additionally revealed the most significant biases regarding students’ investment decision-making and proposed the possible reasons behind their behavioral distortions.Research limitations/implicationsThe study provides a detailed review of the behavioral tendencies of the younger generation while investing and creates recommendations for prospective researchers.Originality/valueThis research lies at the junction of the behavioral finance field, suggesting that it assists in developing a theoretical framework of cognitive biases within students’ financial decisions. Furthermore, it serves as an addition to the financial management subject course that would provide valuable insights about, first and foremost, financial literacy and subsequently, the theory behind the investment process.

Abstract Visiting wine tourism events is an attractive part of a trip for holidaymakers and day visitors. Thus, wine tourism is an important niche market for Germany with its 13 wine regions. Experiences play an increasingly important role in the consumption of tourism services. Therefore, it is also important to organize wine tourism events in an experience-oriented way. The present research design uses the KANO model to determine the requirements for experience staging at wine events from the customer’s point of view. The aim of the study is to provide wineries and other wine tourism providers with recommendations for experience staging in order to increase the attractiveness of the events and to improve the economic success.