The event study in international business research: Opportunities, challenges, and practical solutions

The event study or event study method (ESM) is an empirical technique for capturing investors' reaction to an event affecting one or more publicly traded firms. The ESM has been little employed in international business (IB) research despite its frequency in accounting, economics, and finance; for example, only two percent of the empirical articles in JIBS over 1970-2019 include an event study. While this scarcity could indicate a lack of demand, we argue that the field of IB studies offers many interesting and important research opportunities for an event study. We believe that the challenges arise primarily from the supply side, because conducting an event study involves overcoming a variety of data and analytical hurdles. We examine these methodological challenges and offer practical solutions designed to encourage adoption of the ESM. An online appendix with coding and examples provides additional resources.

SUPPLEMENTARY INFORMATION

The online version contains supplementary material available at 10.1057/s41267-022-00509-7.

Plant-parasitic nematodes on turfgrass in Queensland, Australia, and biosecurity issues associated with the interstate transfer and eradication of southern sting nematode (Ibipora lolii)

Southern sting nematode (Ibipora lolii), by far the most damaging nematode pest of turfgrass in Australia, was first reported from the Newcastle area of New South Wales in 1979 and is now widely distributed in the Central Coast region of NSW; is causing severe damage to sportsgrounds in Perth, Western Australia; and has been reported from a few locations in other states. This paper reports a recent example of interstate transfer, as small rolls of turf transferred from a turf nursery in Victoria to the Brisbane Cricket Ground (the Gabba) for the Australian Football League Grand Final in October 2020 were found to be infested with I. lolii. Despite this transfer, evidence is provided to suggest that Queensland should be considered provisionally free of I. lolii. First, in the period from 2006 to 2021, 744 turfgrass samples from 160 Queensland locations were processed by two diagnostic laboratories and I. lolii was never detected. Second, I. lolii was not found at the two Queensland locations reported in 2010 as being infested. Third, an action plan designed to eliminate I. lolii from the Gabba (removal and disposal of the infested turf; fumigation of the sites where the infested turf had been laid; and application of nematicides to the fumigated areas and the whole oval) appears to have been successful, as I. lolii was not detected in a post-treatment monitoring program. The paper concludes by arguing that Queensland biosecurity authorities should list I. lolii as one of its priority pests, establish a surveillance program for the nematode, and develop strategies to minimise the risk of I. lolii being transferred into and within the state.

Low-profile double plating versus dorsal LCP in stabilization of the olecranon fractures

INTRODUCTION

Proximal ulna fractures are common in orthopaedic surgery. Comminuted fractures require a high primary stability by the osteosynthesis, to allow an early functional rehabilitation as fast as possible, to reduce long-term limitations of range of motion. Classical dorsal plating is related to wound healing problems due to the prominence of the implant. New low-profile double plates are available addressing the soft tissue problems by positioning the plates at the medial and lateral side. This study analysed whether, under high loading conditions, these new double plates provide an equivalent stability as compared to the rigid olecranon locking compression plate (LCP).

MATERIALS AND METHODS

In Sawbones, Mayo Type IIB fractures were simulated and stabilized by plate osteosyntheses: In group one, two low-profile plates were placed. In group two, a single dorsal plate (LCP) was used. The bones was than cyclically loaded simulating flexion grades of 0°, 30°, 60° and 90° of the elbow joint with increasing tension forces (150 , 150 , 300  and 500 N). The displacement and fracture gap movement were recorded. In the end, in load-to-failure tests, load at failure and mode of failure were determined.

RESULTS

No significant differences were found for the displacement and fracture gap widening during cyclic loading. Under maximum loading, the double plates revealed a comparable load at failure like the single dorsal plate (LCP). The double plates failed with a proximal screw pull-out of the plate, whereas in the LCP group, in 10 out of 12 specimens the mode of failure was a diaphyseal shaft fracture at the distal plate peak.

CONCLUSION

Biomechanically, the double plates are a good alternative to the dorsal LCP providing a high stability under high loading conditions and, at the same, time reducing the soft tissue irritation by a lateral plate position.

Evidence-based policymaking and the wicked problem of SDG 5 Gender Equality

Evidence-based policymaking (EBP) contends that policy decisions are successful when informed by evidence. However, where policy problems are “wicked” (systemic, ambiguous, complex, and conflictual), politics trumps evidence and solutions are never first best or permanent. Applying an EBP approach to solving wicked problems (WPs) therefore appears to be a daunting, impossible task. Despite the difficulties, we contend that blending insights from the EBP and WP literatures can provide actionable and practical policy advice to governments and MNEs for dealing with the WPs of the UN Sustainable Development Goals (SDGs). We support our thesis with a case study applying EBP to the WP of SDG 5 Gender Equality. We compare the statistical evidence from gender inequality indexes to SDG 5’s targets and indicators. We provide five insights from the EBP and WP literatures into why and how good evidence is necessary but not sufficient for progress on SDG 5. Building on these insights, we recommend that governments adopt an EBP approach employing public–private partnerships to address SDG 5. We also recommend that MNE executives use our new SDG Materiality Matrix, designed on EBP principles, to build SDG 5 into their global corporate social responsibility strategies.

Going digital multinationals: Navigating economic and social imperatives in a post-pandemic world

The COVID-19 pandemic has intensified the economic imperative facing brick-and-mortar MNEs; i.e., their need to build commercial resilience in response to Industry 4.0 (4IR). The pandemic has also undone progress on the Sustainable Development Goals (SDGs), widened income inequalities, and created a new backlash against digital globalization such that the UN social imperative – the pledge to leave no one behind by achieving the SDGs by 2030 – now appears an impossible task. Could the “going digital” MNEs that are making substantial investments in 4IR technologies take a socially proactive stance and thereby provide a window of opportunity that would rebuild momentum on the UN social imperative? Our paper explores the possible social impacts of MNE digitalization initiatives, both directly through their corporate social responsibility (CSR) activities and indirectly through their global value and supply chains. Because digitalization can be used for the good but requires adequate harnessing, we argue that three changes are needed to ensure that the going digitals, with the assistance of UN agencies, can simultaneously address their economic imperative and facilitate progress on the UN’s social imperative: (i) revamping the CSR function; (ii) making SDGs “matter”; and (iii) building a new UN–MNE coalition.

Research methods in international business: The challenge of complexity

International business (IB) research is designed to explore and explain the inherent complexity of international business, which arises from the multiplicity of entities, multiplexity of interactions, and dynamism of the global economic system. To analyze this complexity, IB scholars have developed four research lenses: difference, distance, diversity, and disparity. These four lenses on complexity have created not only unique research opportunities for IB scholarship but also unique research methodological challenges. We therefore view complexity as the underlying cause of the unique methodological challenges facing international business research. We offer several recommendations to help IB scholars embrace this complexity and conduct reliable, interesting, and practically relevant research.

Grade of retraction and tendon thickness correlates with MR-spectroscopically measured amount of fatty degeneration in full thickness supraspinatus tears

Background

The amount of fatty degeneration (FD) has major impact on the clinical result and cuff integrity after rotator cuff repair. A quantitative analysis with magnet resonance imaging (MRI) spectroscopy was employed to analyze possible correlation of FD with tendon retraction, tendon thickness and patients’ characteristics in full thickness supraspinatus tears.

Methods

Forty-two patients with full-thickness supraspinatus tears underwent shoulder MRI including an experimental spectroscopic sequence allowing quantification of the fat fraction in the supraspinatus muscle belly. The amount of fatty degeneration was correlated with tendon retraction, tendon thickness, patients’ age, gender, smoker status, symptom duration and body mass index (BMI). Patients were divided in to three groups of retraction (A) 0-10 mm (n=), (B) 11-20 mm (n=) and (C) < 21 mm (n=) and the means of FD for each group were calculated.

Results

Tendon retraction (R = 0.6) and symptom duration (R = 0.6) correlated positively, whereas tendon thickness correlated negatively (R = − 0.6) with the amount of FD. The fat fraction increased significantly with tendon retraction: Group (A) showed a mean fat mount of 3.7% (±4%), group (B) of 16.7% (±8.2%) and group (C) of 37.5% (±19%). BMI, age and smoker-status only showed weak to moderate correlation with the amount of FD in this cohort.

Conclusion

MRI spectroscopy revealed significantly higher amount of fat with increasing grade of retraction, symptom duration and decreased tendon thickness. Thus, these parameters may indirectly be associated with the severity of tendon disease.

Intra- and interobserver reliability of glenoid fracture classifications by Ideberg, Euler and AO

Background

Representing 3%–5% of shoulder girdle injuries scapula fractures are rare. Furthermore, approximately 1% of scapula fractures are intraarticularfractures of the glenoid fossa. Because of uncertain fracture morphology and limited experience, the treatment of glenoid fossa fractures is difficult. The glenoid fracture classification by Ideberg (1984) and Euler (1996) is still commonly used in literature. In 2013 a new glenoid fracture classification was introduced by the AO. The purpose of this study was to examine the new AO classification in clinical practice in comparison with the classifications by Ideberg and Euler.

Methods

In total CT images of 84 patients with glenoid fossa fractures from 2005 to 2018 were included. Parasagittal, paracoronary and axial reconstructions were examined according to the classifications of Ideberg, Euler and the AO by 3 investigators (orthopedic surgeon, radiologist, student of medicine) at three individual time settings. Inter- and intraobserver reliability of the three classification systems were ascertained by computing Inter- and Intraclass (ICCs) correlation coefficients using Spearman’s rank correlation coefficient, 95%-confidence intervals as well as F-tests for correlation coefficients.

Results

Inter- and intraobserver reliability for the AO classification showed a perspicuous coherence (R = 0.74 and R = 0.79). Low to moderate intraobserver reliability for Ideberg (R = 0.46) and Euler classification (R = 0.41) was found. Furthermore, data show a low Interobserver reliability for both Ideberg and Euler classification (R < 0.2). Both the Inter- and Intraclass reliability using AO is significantly higher than those using Ideberg and Euler (p < 0.05). Using the new AO classification, it was possible to find a proper class for every glenoid fossa fracture. On average, according to Euler classification 10 of 84 fractures were not classifiable whereas to Ideberg classification 21 of 84 fractures were not classifiable.

Conclusion

The new AO classification system introduced 2013 facilitates reliable grading of glenoid fossa fractures with high inter- and intraobserver reliability in 84 patients using CT images. It should possibly be applied in order to enable a valid, reliable and consistent academic description of glenoid fossa fractures. The established classifications by Euler and Ideberg are not capable of providing a similar reliability.

Culture and context matter: gender in international business and management

Purpose

The purpose of this paper is to argue that culture and context (policy and environment) are key factors affecting gender inequalities within and across countries.

Design/methodology/approach

This paper applies conceptual and descriptive statistics.

Findings

The authors found evidence of increasing gender equality in the workplace, but only for rich countries. Gender inequalities persist in the poorest countries, and the gap between rich and poor countries appears to be widening not narrowing.

Research limitations/implications

This paper demonstrates the need for a comprehensive research program on gender and international business.

Practical implications

The authors provided useful statistics that could possibly be picked up by newspapers. The paper also highlights the need for a more sustained research program on gender and development.

Social implications

This paper demonstrates that the public perception of increasing gender equality applies only in very high development (rich) countries. In fact, gender inequality rises as economic development levels decline across countries, and the gap between very high and low countries has widened over the past 15 years.

Originality/value

The empirical findings with respect to gender inequality across United Nations Development Program country categories over time are, to the best of the authors’ knowledge, novel and original. Relating the gender inequality gap to culture and context highlights the roles that social issues and the environment play in affecting gender inequality across countries and across time.