Governmental anti-pandemic policies,vaccination, population mobility,Twitter narratives,and the spread of COVID-19: Evidence from the European Union countries

We provide large-scale empirical evidence on the effects of multiple governmental regulatory and health policies, vaccination, population mobility, and COVID-19-related Twitter narratives on the spread of a new coronavirus infection. Using multiple-level fixed effects panel data model with weekly data for 27 European Union countries in the period of March 2020–June 2021, we show that governmental response policies were effective both in reducing the number of COVID-19 infection cases and deaths from it, particularly, in the countries with higher level of rule of law. Vaccination expectedly helped to decrease the number of virus cases. Reductions in population mobility in public places and workplaces were also powerful in fighting the pandemic. Next, we identify four core pandemic-related Twitter narratives: governmental response policies, people's sad feelings during the pandemic, vaccination, and pandemic-related international politics. We find that sad feelings’ narrative helped to combat the virus spread in EU countries. Our findings also reveal that while in countries with high rule of law international politics’ narrative helped to reduce the virus spread, in countries with low rule of law the effect was strictly the opposite. The latter finding suggests that trust in politicians played an important role in confronting the pandemic.     

The Rise of Age Homogamy in 19th Century Western Europe

In many parts of Western Europe the age at first marriage and the level of celibacy declined in the second half of the 19th century. This weakening of the European marriage pattern (EMP) can be interpreted as a “classic” response to the increase of the standard of living, but a more far‐reaching interpretation is that the erosion of the EMP was part of a cultural shift characterized by the rise of a new, less instrumental and more egalitarian view on marriage and partner selection. The latter vision implies the increase of the preference for a same age marriage. We test this explanation by using a combined Belgian‐Dutch data set of marriage certificates (N = 766,412). Our findings corroborate the “cultural shift thesis.”     

The Short Term Effects of Immigrant Students on the Educational Achievements of Native‐Born Students

Since 1989 nearly one million immigrants from the FSU have arrived in Israel. Although well‐educated on average, most of these immigrants lacked economic means. The purpose of the present study is to examine whether the presence of immigrants in schools affected the educational achievements of their Israeli‐born peers. We analyzed data pertaining to 8,288 Israeli tenth graders who attended 208 schools in 1994. Respondents' records were obtained from the Ministry of Education and the Bureau of the Census. Using hierarchical models we examined the effects of the proportion of immigrant students in a school and of their parents' education on the probability that Israeli‐born students in the school would earn matriculation certificates. Results did not yield evidence of any negative spillover effects on the educational achievements of the native students. Moreover, the presence of many immigrant students with high educational backgrounds increased the likelihood of Israeli‐born students earning matriculation certificates.     

The Market for Non‐Executive Directors: Does Acquisition Performance Influence Future Board Seats?

This paper investigates whether non‐executive directors associated with good (bad) board decisions are subsequently rewarded (penalized) in the market for directors. This question is addressed by assessing whether the post‐acquisition performance of acquiring companies influences the number of non‐executive directorships that non‐executives involved in these acquisitions hold subsequent to the acquisition. We find that non‐executives on the boards of acquirers that increase (omit or cut) their dividend subsequently hold more (fewer) non‐executive directorships in listed companies. Our findings suggest that the non‐executive labour market is efficient and rewards (penalizes) non‐executives for good (bad) acquisitions.     

Improved generalized Fourier amplitude sensitivity test (FAST) for model assessment

The Fourier amplitude sensitivity test (FAST) can be used to calculate the relative variance contribution of model input parameters to the variance of predictions made with functional models. It is widely used in the analyses of complicated process modeling systems. This study provides an improved transformation procedure of the Fourier amplitude sensitivity test (FAST) for non-uniform distributions that can be used to represent the input parameters. Here it is proposed that the cumulative probability be used instead of probability density when transforming non-uniform distributions for FAST. This improvement will increase the accuracy of transformation by reducing errors, and makes the transformation more convenient to be used in practice. In an evaluation of the procedure, the improved procedure was demonstrated to have very high accuracy in comparison to the procedure that is currently widely in use.     

EUROPEAN CENTRAL BANK FOOTPRINTS ON INFLATION FORECAST UNCERTAINTY

The finding of the paper shows the relative effectiveness of the “one size fits all” policy of the European Central Bank. The paper provides strong evidence in favor of this by testing whether the monetary policy effects (footprints) found in inflation uncertainty converge to a common level. These footprints are measured as the fraction of the estimated policy‐induced reduction in this uncertainty. The testing was conducted by applying a bootstrap‐type test in a regression of the rate of growth of these fractions on their initial values, computed for 16 euro area countries. (JEL C33, E52, E58)     

The role of emotions during mergers and acquisitions: A review of the past and a glimpse into the future

Research on emotions during different phases of the merger and acquisition (M&A) process (i.e., pre-M&A, during M&A and post-M&A) has increased exponentially over the past three decades. However, few attempts have been made to integrate the findings. By systematically reviewing research on emotions during M&As published over the past 30 years, this paper aims to contribute to filling this gap. We organized our findings using a process framework, addressing emotional triggers, the nature of emotions and their dynamics, effects and management. Our review reveals several oversights in research on emotions during M&As, such as the emotional dynamics between the different M&A phases and the role of positive emotions. To address these oversights, future research is encouraged to (a) study emotions following a process-oriented perspective on M&As and include the (interrelationships between) different M&A phases, (b) address the emergence of emotional heterogeneity and homogeneity among organizational members during these phases, (c) investigate the widespread effects of positive emotions and take into account various levels of emotion and (d) explore how emotions can be successfully managed. The paper concludes with a discussion of how these research directions can advance research on emotions during the M&A process.