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Operate, not Amputate: Rule 201 as an Example of a Surgical Approach to Dealing with Toxic Short Selling
In this paper we provide a novel method for the evaluation of the Rule 201 (US short sale restrictions) using over two years of intraday data, carefully matching restricted and control assets, and separating local efects around the implementation from those over the remainder of the trading day. We nd that the Rule achieves its objectives: despite a 4% drop in volume, liquidity and volatility improve (the spreads fall by 7% and the range by 13%). Our analysis indicates that the restrictions achieve this by increasing the cost of short selling in a way that primarily a ects toxic short sellers.NoUnpublishe
The impact of CEO political ideology on labor cost reductions and payout decisions during the COVID-19 pandemic
Using a hand-collected dataset, we study whether CEO political ideology affected S&P 500 firms’ reactions to the COVID-19 pandemic in 2020. During the pandemic, CEOs had the option to distribute the pain of the pandemic’s impact onto shareholders by paying lower dividends, onto the workforce by reducing labor costs, or to share the pain. We hypothesize that conservative CEOs were more likely to aggressively reduce labor costs while still meeting dividend expectations. Conversely, other CEOs would have been less likely to meet dividend expectations and less likely to reduce labor costs. Our findings support this hypothesis. We also find that during the pandemic, conservative CEOs used temporary downsizing to avoid earnings losses, enabling them to meet dividend expectations.We would like to express our heartfelt thanks to Tracy Wang, the Editor, and an anonymous referee for the helpful guidance we
received. We are grateful for helpful comments and suggestions to participants at the 7th annual conference of the International
Corporate Governance Society at the University of Groningen, the 12th Financial Markets and Corporate Governance Conference
at Monash University, the 2022 Finance Forum, the 2022 British Academy of Management Conference, the 22nd Hellenic Finance
and Accounting Association conference, and the 2023 World-Class Workshop in Finance at Edinburgh University Business School.
We would also like to thank seminar participants at the universities of Aberdeen, Leeds, Sabanci, and Sussex, as well as participants
at the 2022 Workshop on Corporate Governance and Investment at Copenhagen Business School, for their comments on earlier
versions of this paper. Special thanks are due to Miguel García-Cestona, Ricard Gil, Jordan Neyland, and Hanwen Sun. The research
reported in this paper was partially funded by the Spanish State Research Agency (AEI)/10.13039/501100011033) – Grant No.
PID2020-115982RB-C22 and Grant No. PID2023-148086NB-C22 granted by MCIU/AEI/10.13039/501100011033/FEDER, UE.YesPublishe
From ORCID to Google Scholar: How to manage your Digital Academic Profile
This training session provides a practical introduction to managing a coherent and effective digital academic identity across major scholarly platforms, including ORCID, Scopus, Web of Science, and Google Scholar. It outlines the importance of persistent identifiers for ensuring accurate attribution, enhancing visibility, and supporting institutional evaluation processes. Participants learn how to create, update, and synchronize their author profiles; resolve common issues such as duplicate records and misattributed publications; and maintain consistent information regarding name variants and affiliations. The session also highlights best practices for linking platforms through ORCID to automate updates and reduce administrative workload. Overall, the training emphasizes the growing relevance of digital identity management in the contemporary research ecosystem and provides actionable guidance for maintaining accurate and up-to-date academic profiles.yesPublishe
CULTIVANDO UN FUTURO SOSTENIBLE: UN ESTUDIO DE CASO SOBRE LA IMPLEMENTACIÓN DE LA PERMACULTURA Y TECNOLOGÍAS DIGITALES EN EL CONTEXTO DE SERVICIOS AGRÍCOLAS GESTIONADOS
El impacto ambiental perjudicial de la agricultura industrial y la creciente demanda global de alimentos hacen necesarias prácticas agrícolas sostenibles. El presente estudio tiene como objetivo investigar el rendimiento económico y los resultados de sostenibilidad de la implementación de prácticas de permacultura y tecnologías digitales en el contexto de servicios agrícolas gestionados en la India (en dos tipos distintos de granjas: agroforestales y granjas centradas en la vida). Con ello, se contribuye al creciente cuerpo de conocimiento sobre la agricultura sostenible y se destacan los diferentes enfoques de implementación con el potencial de transformar el sector agrícola.
Se emplea un diseño de investigación secuencial con enfoque mixto, comenzando con entrevistas cualitativas a cinco expertos vinculados con la organización de objeto del estudio de caso, Hosachiguru, una destacada empresa agrícola India que ofrece servicios de gestión de granjas. Posteriormente, se aplicaron encuestas cuantitativas a 208 agricultores (108 de granjas agroforestales y 100 de granjas centradas en la vida). Los hallazgos revelan que la implementación de prácticas de permacultura, como la cosecha de agua de lluvia (media = 4.64) y los sistemas de gestión del agua (media = 4.63), junto con tecnologías digitales como la gestión de humedad basada en IoT (media = 4.48) y el riego por goteo (media = 4.52), mejora tanto el desempeño económico como los resultados de sostenibilidad, según los agricultores.
En particular, los agricultores de las granjas centradas en la vida obtuvieron mayores beneficios de ciertas prácticas de permacultura (por ejemplo, el acolchado, con una diferencia estadísticamente significativa de p < 0.001) y de la aplicación móvil MyFarm (p < 0.01) en comparación con los agricultores de granjas agroforestales. Además, al adquirir servicios agrícolas gestionados, priorizaron factores no relacionados con el precio, como la representación del concepto (media = 4.25), las comodidades e instalaciones (media = 4.08) y la reputación del desarrollador (media = 4.05), por encima del precio (media = 3.13).
Los hallazgos del estudio subrayan el potencial transformador de la integración de la permacultura y las tecnologías digitales en diversos contextos agrícolas. Se recomienda que los responsables de políticas y educadores desarrollen normativas y programas de capacitación que respalden la agricultura sostenible y digital. Además, el estudio sugiere futuras líneas de investigación, como el impacto de enfoques personalizados en la agricultura sostenible y la necesidad de un estudio longitudinal para evaluar mejoras a lo largo del tiempo, entre otros aspectos.Industrial agriculture's detrimental environmental impact and the growing global demand for food necessitate sustainable agricultural practices. The current study aims to investigate the economic performance and sustainability outcomes of implementing permaculture practices and digital technologies in a managed farm services context in India (two distinct farm types: agroforestry and lifecentric farms), contributing to the growing body of knowledge on sustainable
agriculture and highlighting the potential of different implementation approaches to transform the agricultural sector. A mixed-method sequential research design is used, beginning with qualitative interviews conducted with five experts associated with the single case study organization, Hosachiguru, a leading Indian farming company offering managed farm services, followed by quantitative surveys with 208 farmers (108 from agroforestry and 100 from lifecentric farms). Findings reveal that implementing permaculture practices like rainwater harvesting (mean = 4.64) and water management systems (mean = 4.63), alongside digital technologies like IoT-based moisture management (mean = 4.48) and drip irrigation (mean = 4.52), enhances both economic performance and sustainability outcomes according to the farmers. Notably, lifecentric farmers received higher benefits from certain permaculture practices (e.g., mulching, with a statistically significant difference of p < 0.001) and the MyFarm mobile app (p < 0.01) compared to agroforestry farmers. Moreover, farmers prioritized non-price factors like concept representation (mean = 4.25), amenities & facilities (mean = 4.08) and developer reputation (mean = 4.05) when purchasing managed farm services, over price (mean = 3.13). The study’s findings underscore the transformative potential of integrating permaculture and digital technologies in diverse farming contexts. Policymakers and educators should develop supportive policies and training for sustainable and digital farming. The study also provides future research directions such as effect of tailored approaches for sustainable agriculture and the need for a longitudinal study to track improvements over
time among othersKetter, Wolfgang (PRESIDENTE); Ravindran, Kiron (SECRETARIO); Atasoy, Hilal (VOCAL)yesPublishe
Dé-Uberiser Le Marché Du Travail? Une Analyse Des Dispositions Relatives À La Gestion Algorithmique Prévues Dans La Proposition De Directive Européenne Sur Le Travail Via Une Plateforme
[No abstract available]yesIn Proces
Pledges counteract the boomerang effect in a sustainable showering intervention for children
Water scarcity has become a growing concern due to climate change. As fresh water is going to become increasingly scarce in the future, inculcating water-conserving habits among young children is very important. We conduct a randomized field experiment that focussed on instilling the behaviour of showering within 5 min among primary school children (N = 1121) in Singapore. Alongside an educational show emphasizing the importance of a 5 min shower, we introduced two commitment interventions—private and public (written) pledges—to nudge children to adhere to the 5 min shower time goal. Unexpectedly, the educational show and the 5 min shower time goal had an undesirable boomerang effect: children with a baseline shower time above 5 min reduced their shower time, while those below 5 min increased it, resulting in no net reduction. The private and public pledge-based commitments effectively countered the boomerang effect, reducing overall shower time and increasing adherence to the 5 min target. The commitment interventions achieved this by increasing the participants’ willingness to meet the target and by ensuring greater reductions for those more willing to reduce shower time.yesPublishe
The Ethical Role of Pro-Equality Laws in Reducing Executive Gender Pay Gaps under Cultural Resistance
This study investigates how informal cultural norms and formal pro-equality legislation shape the executive gender pay gap (GPG), and whether legal interventions can ethically substitute for weak cultural support for gender equity. We integrate insights from role congruity theory, institutional theory, and feminist ethics to explain the phenomena. Pro-equality legislation is measured using the World Bank’s Women, Business, and the Law (WBL) Index, while gender egalitarianism is derived from the World Values Surveys. We find that executive pay disparities are most pronounced in less gender-egalitarian societies, especially among non-CEO top management team members and in salary-based compensation. Pro-equality laws—particularly those targeting pay rights, asset ownership, and entrepreneurship—significantly reduce these disparities, with the strongest effects observed in countries with lower cultural egalitarianism. These findings suggest that formal legal reforms can act as ethical correctives where informal norms fail, advancing care-based principles of justice and accountability at the highest organizational levels. Our study contributes to feminist ethics by showing how legal structures can institutionalize equity in the face of cultural resistance.yesPublishe
Innovation Beyond Technology. The Crucial Role of Skills in Driving Change in the Legal Profession: Perspectives from Lawyers at Major Firms in Spain
This study examines the legal profession’s ecosystem, focusing on the interplay among technology, innovation, and skills. Through a survey of 460 legal professionals from major firms in Spain, it examines how lawyers perceive and respond to the challenges and opportunities associated with technological advancements. This study is among the first to address this population and region, offering new insights into the transformation of legal practice and the implementation of novel legal training initiatives.
Innovation, as articulated in this study, extends beyond the reductionist view that equates it solely with technology. Instead, innovation includes rethinking organizational structures and cultivating human-centric skills (e.g., negotiation, communication, leadership, and management skills) to make the most of digital tools. By embracing an integrative approach to innovation whereby technology and soft skills coalesce, legal professionals can gain a competitive advantage and excel in the increasingly dynamic and technology-driven professional environment.
The findings of this study demonstrate that artificial intelligence is largely seen as a tool to complement, rather than to replace, uniquely human legal skills. Furthermore, this study introduces the TIE Lawyering model, which highlights three critical dimensions for modern legal professionals—namely, mastery of technology (T), interpersonal skills (I), and robust ethical standards (E). The model underscores the need to balance technological proficiency with core skills to achieve innovation in legal practice.
This study contributes to bridging the gap between theory and practice, advocating for a redefinition of innovation in the field of law that encompasses organizational, interpersonal, and technological dimensions. As the legal profession continues to evolve, the insights provided here suggest a promising roadmap for fostering meaningful and sustainable innovation, ensuring that lawyers are “future-proof.”yesPublishe
Artificial Intelligence in Education: Computer-Assisted Learning and AI-guided Tutors
Artificial Intelligence (AI) and Computer-Assisted Learning (CAL) offer powerful tools to improve foundational skills and close educational gaps, with evidence showing meaningful gains in student performance, especially in mathematics. Recent advancements in these technologies have generated optimism about their transformative potential in classrooms worldwide. These technologies are increasingly being piloted at scale, reshaping the way teachers deliver content and students engage with material. However, their impact depends less on access to devices and more on how they are integrated into teaching—through curriculum alignment, teacher training, and interactive design that promotes active learning. Without careful implementation, these tools risk widening existing inequalities. Using new evidence from Italy, we show that digital divides in AI adoption persist across schools and regions, reflecting broader social and economic disparities. Our findings suggest that realising the potential of AI in education requires inclusive policies and targeted investment to ensure no student is left behind, and that the benefits of digital innovation are shared equitably.yesPublishe
Predicting and understanding shooting performance in professional biathlon: a Bayesian approach
Biathlon is a unique winter sport that combines precision rifle marksmanship with the endurance demands of cross-country skiing. We develop a Bayesian hierarchical model to predict and understand shooting performance using data from the 2021/22 Women’s World Cup season. The model captures athlete-specific, position-specific, race-type, and stage-dependent effects, providing a comprehensive view of shooting accuracy variability. By incorporating dynamic components, we reveal how performance evolves over the season, with model validation showing strong predictive ability at both overall and individual levels. Our findings highlight substantial athlete-specific differences and underscore the value of personalised performance analysis for optimising coaching strategies. This work demonstrates the potential of advanced Bayesian modelling in sports analytics, paving the way for future research in biathlon and similar sports requiring the integration of technical and endurance skills.yesPublishe