We examine how the forthcoming refinancing of long-term debt affects firms’ overinvestment tendency. We find that firms reduce overinvestment in the year before the refinancing year. Refinancing risk reduces the propensity to overinvest by 6–8%. Firms with relatively higher levels of refinancing risk tend to reduce overinvestment. Since firms with high leverage and low cash holdings are more likely to suffer from liquidity and credit constraints, our findings report that such firms experience a greater reduction in overinvestment. Long-term debt refinancing disciplines managers in reducing the tendency to overinvest. Firms with lower managerial ability have a greater tendency to reduce overinvestment in non-capital expenditures before refinancing. However, the likelihood of overinvestment in capital expenditures decreases irrespective of managerial ability. Reductions in overinvestment before refinancing also have a positive impact on firm performance.

Resilience is examined as a mediator between emotional intelligence and burnout. The study also investigates the implications of emotional intelligence on burnout. An empirical investigation was conducted among 257 academicians employing purposive sampling. Primary data were obtained using a 5-point likert scale, incorporating validated tools, including the Maslach Burnout Inventory (MBI), Nicholson McBride Resilience Questionnaire (NMRQ), Mindful Attention Awareness Scale (MAAS), Self-Regulation Inventory (SRQ), Intrinsic Motivation Inventory (IMI), and Interpersonal Reactivity Index (IRI). The analysis was performed using Hayes (2018) SPSS Process Macro Model 4. Burnout was found as positively correlated with resilience and emotional intelligence, while emotional intelligence also showed a positive association with resilience. Moreover, resilience partially mediates the relationship between emotional intelligence and burnout. This research is among the earlier attempts to fill the lacuna in the amalgamated domain of emotional intelligence, burnout, and resilience with specific attention on academicians, where resilience acts as a mediating variable.

This paper explores the role trait social courage has in psychologically unsafe team environments, specifically examining its impact on voice and leadership emergence. Using a sample of undergraduate students engaged in a semester long team business simulation, surveyed at multiple time points and with multiple raters, we found support that trait social courage is activated under conditions of low psychological safety, resulting in voice behaviors. Further, voice was related to perceptions of leadership emergence. Implications and directions for future research are discussed.

We examine the theory of decreasing returns to scale by assessing the impact of fund size on the performance of arbitrage mutual funds in India. Fund manager of arbitrage funds with large fund size tend to hold cash equivalents due to inadequate arbitrage opportunities, resulting in underperformance. The study formulates four equally weighted portfolios of selected arbitrage mutual funds on the basis of fund size and applies market model and Jensen’s differential return model (1968) to examine the differential performance of portfolios. We apply Bhardwaj & Brooks dual beta model (1993) to assess performance of arbitrage fund portfolios across different market sentiments specifically during bull and bear markets. We further apply Fama-French three factor (1993) and five factor (2015) models and Carhart four factor (1997) models for robustness checks. We find no significant difference between arbitrage fund returns and risk-free returns as well as the portfolio returns with different fund sizes. The small sized arbitrage mutual funds are more exposed to systematic risk than large sized funds in bearish market.

In this empirical study, I develop theorizing on the conditions under which employees’ informal, competence-based power in strategically core roles enhances organizational performance. I propose that in contexts characterized by high task specialization and interdependence, employees with high informal power positively influence performance through higher motivation and improved coordination. However, this effect is weaker when managers also hold high informal power or emphasize hierarchical structures, as these factors create power conflicts that undermine employees’ informal influence. Conversely, the positive effect is stronger when employees receive negative performance feedback, which they perceive as a challenge to their competence, leading to stronger association between employee informal power and performance. Empirical analyses provide strong support for these propositions, showing that employees’ informal power in strategically core roles can be a key driver of performance improvements, but only under specific organizational conditions.

The paper investigates the impact of minimum wage increase on college enrollment in the U.S. using a panel of 50 U.S. states during the period 2009-2018. By examining the impact of minimum wage on college enrollment, particularly within different types of post-secondary institutions, our study adds to the existing literature. This is a departure from previous research, which predominantly concentrated on two-year college enrollment. We find evidence that raising minimum wages adversely affects overall college enrollment. However, the results vary depending on the type of colleges. The increase in minimum wage has a negative impact on the enrollment of two-year colleges, while positively affecting the enrollment in four-year public colleges. We use state level aggregated data and estimate our results using a System Generalized Method of Moments (System GMM) to account for endogeneity concerns surrounding the minimum wage and college enrollment.

This study examines the impact of forecast information quality on supply chain performance in the context of the Palestinian territories. A sample of 200 firms were involved in this research that used path analysis and structural equation modeling to analyze the survey data. The constructs of preventive costs and corrective costs pertaining to inventory management were tested as the mediating variable between forecast information quality and perfect order index, a surrogate measure for supply chain performance. The results support the hypotheses that both the forecast information quality and the corrective and preventive inventory actions have a positive significant impact on the perfect order index while the results did not support the mediating role of the preventive and corrective inventory. The discussion about the need for preventive and corrective inventory management in spite of high forecast information quality provides insights for supply chain management in companies operating in other volatile and turbulent regions around the world.

We examine how informal institutions—specifically, national culture—shape the choice of payment methods in cross-border mergers and acquisitions (M&As). Our analysis reveals that acquirers from countries with high levels of individualism are less likely to finance acquisitions using stock. In contrast, acquirers from cultures with high uncertainty avoidance are more inclined to do so. Furthermore, the negative association between individualism and stock financing is more pronounced in transactions with greater anticipated synergy gains. These results are robust to a range of firm-level controls, country-specific factors, and alternative proxies for national culture.

Economic sanctions engender the disturbance of financial transactions between the sanctioner and the targeted nations. The Russia-Ukraine war also restricted Russia's entry into financial and commodity markets, with reverberating effects on the global market. Hence, the study aims to elucidate the relationship between armed conflicts and economic sanctions enforced by the G7 nations, the crude oil market, and its corresponding volatility index, OVX. It seems that heightened levels of ambiguity, conflict, nervousness, and hostility have contributed to an increase in the fluctuation of the energy market, leading to an extreme response to economic sanctions. Our findings reveal that financial restrictions imposed by Australia, Japan, the UK, and the USA have led to higher uncertainty and increased volatility in the oil market. The news variable War exhibits higher volatility compared to Crude oil and Recession in the media press. The war-induced uncertainty has shown a significant impact on the oil volatility.

The study investigates the dynamics of interaction between bank competition and risk networks of the Indian banking system between 2010 to 2020. It has estimated bank competition using the Lerner Index through the translog cost function and bank risk using Z-Score. The study found that bank competition and risk networks are concentrated during the economic upcycle and dispersed during the downcycle. The article also found that big and profitable banks are the least competitive but riskier. The concentrated risk network structures reveal that systemic risk spillover is quite eminent in the Indian banking system. The distance-to-default model, panel vector autoregression (PVAR) model and DCC- MGARCH model confirmed the interaction between competition and risk networks for the Indian banking system. The article observes that bank competition is positively related to the Probability of Default; a positive bi-directional causal relationship exists between the bank competition network index (CNI) and the risk network index (RNI); and finally, long-term persistence of CNI on RNI, supports the competition–fragility theory. The study recommends that regulators strike a balance between competition and stability while designing policy guidelines for the banking system.