Digital Commons Network^™

Short-Window Market Reactions To Real Estate M&A: A Comparative Event Study Of Reits And Real Estate Services Firms, Aryan Kaila

CMC Senior Theses

Existing research on real estate mergers has largely focused on REIT acquirers in isolation, typically finding near-zero bidder reactions in short event windows. There is little work that directly compares REITs with publicly listed real estate services (RES) firms that operate in the same market cycles and conditions but follow different business models. Using a transaction-level dataset of 137 U.S. mergers from 1994 to 2024, this study applies event-study methodology and cross-sectional regression analysis to investigate whether equity markets respond differently to acquisitions undertaken by REITs and real estate services firms. The estimates show that REIT acquirers experience notably more …

The Impact Of Asu 2023-08 On Reported Profitability Of Cryptocurrency-Exposed Firms, William C. Graff

CMC Senior Theses

This study investigates the performance of corporate cryptocurrency holdings in the context of recent accounting regulation changes. It specifically examines how adopting Accounting Standards Update (ASU) 2023-08 has affected firms with material cryptocurrency exposure. Using a panel of U.S. public firms from 2019–2025, I classified 138 companies as having material crypto exposure if cryptocurrency comprised more than 0.01 percent of total assets, which was manually calculated. Of these firms, 67 were exposed to the rule change (under GAAP), 66 were not, and 5 were excluded from final calculations due to a lack of relevant information.

Results showed statistically significant effects …

Impact Of Attention And Yield Curve On Term Structure Of Equity, Matthew C. Aved

CMC Senior Theses

This paper examines the term structure of equity and specifically focuses on the impact of term spread and market attention. The paper builds on prior work that developed the concept by adding behavioral explanations for differences between the short-term and long-term returns while also attempting to link the term structure of equity and the bond yield curve. The study examines these influences by running t-tests and regressions on dividend strip and S&P 500 return data (1996-2017) and attention data collected by Bloomberg (2010-2017). The results provide some insight into how these variables influence short-term and long-term returns; however, limited instances …

Attention And Technical Analysis: State‑Dependent Predictability Of Cnn‑Based Stock Return Forecasts, Crystal Y. Ma

CMC Senior Theses

This thesis studies how investor attention around Federal Open Market Committee (FOMC) announcements affects cross-sectional return predictability measured by a convolutional neural network (CNN) trained on price charts. I replicate Jiang, Kelly, and Xiu’s (2023) image-based CNN using 20-day OHLCV “price images,” train it on U.S. equities from 1993–2000, freeze the model, and apply it out of sample to 2001–2024 CRSP data. The CNN assigns each stock a weekly probability of outperforming which is then sorted into deciles that form high–minus–low (H–L) long–short portfolios at horizons of 1 to 10 trading days. For matched non-FOMC (control) weeks, the equal-weighted CNN …

Investor Reactions To Clinical Trial Outcomes: Interpreting Impacts Using Ai-Based Measures Of Investor Sentiment, Sofia K. Weinstein

CMC Senior Theses

This thesis examines how investors react to biotechnology firms’ clinical trial announcements and whether artificial intelligence (AI) can enhance our understanding of those market reactions. Using a representative sample of 95 firm-event observations between 2014 and 2025, the study measures cumulative abnormal returns (CARs) surrounding clinical readouts, regulatory decisions, and partnership disclosures. Event-study regressions test for heterogeneity across trial phase, therapeutic area, and textual sentiment derived from company press releases. Consistent with expectations, later-phase trials, particularly Phase II and III, produce stronger short-term abnormal returns. However, categorical variables such as phase or therapeutic area explain little of the total variation …

Happy New Year To You And Your Team!, Kyle Katynski Dds

Journal of the Macomb Dental Society

This article features a monthly column from the Macomb Dental Society President, Dr. Kyle Katynski. This month Dr. Katynski discusses reoccurring themes from 2025, such as simplifying, and lessons from the past year.

Stakeholder Perceptions Of The Feasibility Of E-Portfolio-Based Assessment Of Physical Literacy In Primary Health And Physical Education, Jaxon Hogan, Dawn Penney, Eibhlish O’Hara, Joseph Scott

Research outputs 2022 to 2026

Background: Physical literacy (PL) is widely acknowledged as an integral component of high-quality physical education programmes. However, what constitutes appropriate assessment of PL remains a contested issue. This study drew on Whitehead’s conceptualisation of PL as a lifelong journey and investigated how primary school teachers can support students’ PL learning through innovative and engaging assessment methods. The study specifically examined the feasibility of using e-portfolios to facilitate quality PL learning and quality assessment in Physical Education (PE), from different stakeholder perspectives. Methods: This interpretive study employed a qualitative design and methods to investigate aspects of feasibility with three purposive participant …

Determinants Of Artificial Intelligence Adoption: Research Themes And Future Directions, Ahmad A. Khanfar, Reza Kiani Mavi, Mohammad Iranmanesh, Denise Gengatharen

Research outputs 2022 to 2026

The adoption of artificial intelligence (AI) systems is on the rise owing to their many benefits. This study conducted a bibliometric analysis to identify (1) how the literature on AI adoption has evolved over the past few years, (2) key themes associated with AI adoption in the literature, and (3) the gaps in the literature. To achieve these objectives, we utilised the Biblioshiny of R-package bibliometric analysis tool to analyse the AI adoption literature. A total of 91 articles were reviewed and analysed in this study. Four major themes were identified: AI, machine learning, the unified theory of acceptance and …

Gastronomy Tourism Destinations: Developing A Scale To Measure Tourists’ Perceived Attributes, Ganghua Chen, Jingmei Xu, Songshan (Sam) Huang

Research outputs 2022 to 2026

Purpose: This study emphasizes the growing significance of destination attributes in shaping the experiences and behaviours of gastronomy and culinary tourists. Understanding both core and complementary attributes of a gastronomy tourism destination is crucial for its sustainable development. However, there is a lack of a reliable measurement for tourists’ perceived attributes of gastronomy tourism destinations (PAGTD). Therefore, the purpose of this study is to develop a scale to measure tourists’ PAGTD. Design/methodology/approach: The study systematically followed the scale development and validation process, using three samples (Sample 1, n = 200; Sample 2, n = 204; and Sample 3, n = …

Designing And Evaluating Quality Transdisciplinary Work-Integrated Learning: Insights Into Practice, Denise Jackson, Claire Lambert, Sonja Coetzee

Research outputs 2022 to 2026

Higher education’s role in fostering innovation and enacting social change is increasingly important. Transdisciplinary Work-Integrated Learning (TWIL) offers opportunities to prepare students to address societal issues by transcending disciplinary boundaries and collaboratively tackling real-world global challenges. While extensive literature exists on established WIL models, research on the critical aspects of designing, implementing and evaluating impactful TWIL activities remains scarce. This paper draws together insights from 15 TWIL academics across 14 Australian universities, highlighting important design elements such as training for small group collaboration, open-ended projects, design thinking, sustained mentorship and reciprocal partnerships. Emerging challenges related to online delivery, teamwork, scalability, …

Exploring How Young Consumers Construct Identities In Socially Restrictive Societies: Managing Impressions Through Fashion Clothing, Muhammad Abid, Aron O’Cass, Hormoz Ahmadi, Vida Siahtiri

Research outputs 2022 to 2026

In many societies, fashion serves as a medium of self-expression and a site of social regulation, where sartorial decisions can expose consumers to social censure and physical risk. Consequently, consumers must navigate the tension between adhering to local norms and participating in global fashion cultures. This study draws on impression management theory to examine how young consumers in a socially restrictive society use fashion as a means of identity expression while mitigating potential social risks. It uses data from in-depth interviews (n = 40) and open-ended surveys (n = 150) with consumers aged 18 to 35 years, analysed using an …

Brand Transcendence Through Brand Value Co-Creation Exchanges Within Social Media Craft Beverage Brand Communities, Violetta Wilk, Gilstrap, Darren How

Research outputs 2022 to 2026

This study explores brand transcendence through brand value co-creation within social media craft beverage brand communities across Instagram and Twitter (now X). Lexical analysis explored a total of 192,330 posts and found brand transcendence evident in the interplay between user-generated content (UGC) and brand-generated content (BGC) across social media platforms, which co-created brand value through the processes of sharing virtual cues within social media craft beverage communities. This brand transcendence was enhanced through the sharing of personal experiences and unique brand moments. BGC across both platforms showcased themes of brand affinity, the importance of time in brand experiences, gratitude, and …

Refuelling Behaviour And Electric Vehicle Uptake: Evidence From A Behavioural Transition Framework In Western Australia, Navid Hashemi Taba, Khatavakhotan

Research outputs 2022 to 2026

This study examined how refuelling routines, price responsiveness and discount expectations relate to readiness to replace a conventional petrol vehicle with an electric vehicle in Western Australia. A structured survey of nonelectric vehicle owners was administered in Perth (n = 442; conventional petrol n = 408; hybrid n = 34). Protocol-based cleaning and distributional diagnostics guided nonparametric inference and segmentation. Refuelling frequency comparisons between conventional and hybrid vehicle owners indicated higher visit frequency and monthly consumption among the former (monthly consumption: median 150 L vs. 92 L; U = 6963.5, z = 4.48, p < 0.001), whereas within conventional vehicle owners, no significant association was observed between monthly consumption and stated willingness to adopt an electric vehicle (U = 6633.0, p = 0.671). Expected petrol price discounts were tightly centred (median 10%; interquartile range 5%–15%), yet cluster analysis revealed a distinct segment combining high discount expectations (≈22%) and higher monthly consumption (∼211 L). Correlation between consumption and discount expectations was negligible (r ≈ 0.03, p > 0.05). These findings suggest that adoption-related …

The Factors Influencing Organisational Responsiveness For Sustainable Projects, Richard Hughes, Bradley Baker

Research outputs 2022 to 2026

Purpose: This study investigates how organisations respond to sustainability when it becomes a central strategic priority, particularly through project environments. The research seeks to understand the factors influencing organisational responsiveness to sustainability imperatives in projects, addressing a key gap in sustainable project management literature. Design/methodology/approach: The study employed a thematic meta-synthesis of qualitative case studies from multiple countries and different economic sectors. Using grounded theory, data were coded to identify first-order concepts, second-order themes and aggregate dimensions, culminating in the development of a conceptual model of dynamic adaptation. Findings: The analysis revealed three interrelated dimensions that shape organisational responsiveness: strategic …

Extending Social Penetration Theory To Online Brand Communities: The Impact Of Perceived Identifiability On Relational Development And Perceived Enjoyment, Stephanie Meek, Claire Lambert, Laureane Du Plessis

Research outputs 2022 to 2026

Online brand communities (OBCs) rely on members forming relationships, yet many platforms normalise anonymity. Drawing on Social Penetration Theory (SPT), this study examines whether feeling recognisable to other members (perceived identifiability) shapes relational outcomes and enjoyment in consumer-initiated OBCs. Survey data from 307 members were analysed using structural equation modelling and multi-group analysis. Perceived identifiability significantly increased members’ network ties and sense of belonging but did not directly enhance perceived enjoyment. Instead, belonging mediated the link from identifiability to enjoyment, and network ties strengthened belonging, yielding a serial indirect pathway from identifiability to enjoyment. Comparing lurkers and posters showed that …

Przedsiębiorczość: Praktyczny Przewodnik Dla Sukcesu W Biznesie, Jalleh Sharafizad, Violetta Wilk, Kerry Brown, Aglae Hernandez Grande, Fleur Sharafizad, Dorothy Wardale, Arkadiusz Gwarda, Artur Korkoszkiewicz, Marta Komorska, Bartosz Sobotka, Michał Wójcik

Research outputs 2022 to 2026

This book is tailored for entrepreneurs in their startups or moving to the next stage of their businesses, micro and small business owners, as well as individuals who are considering starting their own ventures. It brings together essential insights, practical tools, and valuable resources developed through two Western Australian government initiatives focused on entrepreneurial training and support. In addition, it draws on a range of business concepts from other sources, refining and simplifying them to suit the specific needs of emerging and growing enterprises.

Designed to be both flexible and supportive, the book serves multiple roles throughout your entrepreneurial journey. …

An Exploration Of Knowledge-Sharing Behaviour Within A Community-Based Service Provider: A Reflexive Thematic Analysis, Paul Mcmanus

Doctoral

This qualitative research examines the knowledge-sharing (KS) behaviour of employees within a non-profit organisation (NPO) based in Dublin, Ireland. This NPO is a community-based service provider that supports people with disabilities and their families. It operates under the aegis of the Health Service Executive (HSE). The ability of employees to share knowledge is fundamental to the sustained care of society’s most vulnerable. Research on employees’ KS behaviour remains underrepresented within the non-profit sector. This gap in knowledge aligns with the NPO’s view that its KS environment requires improvement. In response to the literature review, a developed taxonomy conceptualises the organisation …

Choice-Based Crowdshipping For Next-Day Delivery Services: A Dynamic Task Display Problem, Alp Arslan, Firat Kilci, Shih-Fen Cheng, Archan Misra

Research Collection School Of Computing and Information Systems

This paper studies integrating the crowd workforce into next-day home delivery services. In this setting, both crowd drivers and contract drivers collaborate in making deliveries. Crowd drivers have limited capacity and can choose not to deliver if the presented tasks do not align with their preferences. The central question addressed is: How can the platform minimize the total task fulfilment cost, which includes payouts to crowd drivers and additional payouts to contract drivers for delivering the unselected tasks by customizing task displays to crowd drivers? To tackle this problem, we formulate it as a finite-horizon Stochastic Decision Problem, capturing crowd …

Paid Search Marketing Vs. Search Engine Optimization: Analytical Models Of Search Marketing Based On Search Engine Quality, Kai Li, Chunyang Shen, Mei Lin, Zhangxi Lin

Research Collection School Of Computing and Information Systems

As search engines are leading revenue growth in online marketing, search marketing has become a popular area of academic research. Although search engine advertising has interested researchers for decades and much has been learned, one thing that puzzles scholars is why search engine optimization companies are tolerated rather than excluded from the market, even though they capture a significant share of the advertising market. In this paper, we shed light on this phenomenon and establish an analytical model based on organic search quality. Through analysis of the model, we were able to draw several intriguing conclusions. First, there is no …

Design Principles For Customer-Engaging Digital Service Systems: An Action Research Study, Keng Leng Siau, Xiaofeng Chen, Xin Tan

Research Collection School Of Computing and Information Systems

Digital services represent a business approach employed by organizations to operate in the digital environment. However, systematic development guidelines for developing quality digital service systems are lacking in the literature. The authors identified four general challenges for developing and implementing customer-engaging digital service systems (CEDSS). By employing the method of canonical action research in a digital service system project, they derived 10 design principles for developing high-quality CEDSS. They empirically evaluated the design principles in the development project and through follow-up focus group sessions. The design principles provide applicable and actionable guidelines for the development of CEDSS.

Entropic Foundation Of Finance And Physics: Securities Price Dynamics And Quantum Theory, Mohammad Abedi

Electronic Theses & Dissertations (2024 - present)

In many scientific and financial contexts, we must reason and make predictions under conditions of incomplete information. This dissertation develops Entropic Dynamics (ED) as a unified framework for deriving dynamical laws directly from principles of inference. Within this approach, probability distributions represent states of knowledge, and their evolution is determined through entropy maximization subject to relevant constraints. This leads to a novel concept of entropic time and a formulation of dynamics as an inferential process. In this talk, I will present how ED provides a common foundation across multiple domains. In physics, quantum dynamics for particles and scalar fields in …

The Role Of Extra-/Co-Curricular Activities And Work On Law Graduates’ Initial Employment Outcomes, Denise Jackson, Craig Cameron

Research outputs 2022 to 2026

Developing student employability is a strategic priority for higher education institutions and is often measured by transition to initial employment. Extra-/co-curricular activities, in addition to in-curriculum programs, can develop different aspects of student employability, supporting students in securing and transitioning to work post-graduation. This study examines the perspectives of 7000 graduates of Australian law degrees on their engagement in, and the value gained from, extra-/co-curricular, employability-building activities and paid employment during their studies between 2020 and 2023. The results indicated declining overall participation in extra-/co-curricular activities over the four-year period, and relatively greater engagement among female, younger, international and/or students …

Blending Minds, Balancing Goals: Tmt Heterogeneity And Sustainable-Innovation In Family Firms, Mahdi Vesal, Muhammad Aftab Alam, Mohammad H. Rahmati

Research outputs 2022 to 2026

Family firms often prioritize profitability and growth, but balancing these with environmental sustainability is challenging. While TMT heterogeneity shapes various performance outcomes, its role in addressing the profitability–environmental sustainability dilemma in family firms remains unclear. Building on the upper echelons theory, we investigate how TMT heterogeneity drives the simultaneous pursuit of financial and environmental performance, which we refer to as hybrid financial–environmental performance, through sustainable-innovation practices. Additionally, we examine how family-firm governance mechanisms influence these relationships. Analyzing data from two matched samples of CEOs and senior production managers of Australian family firms, we find not only that TMT heterogeneity enhances …

A Critical Review Of The Theory Of Planned Behaviour In Tourism Research, Kourosh Esfandiar, Arghavan Hadinejad

Research outputs 2022 to 2026

The Theory of Planned Behaviour (TPB) has received considerable attention across various academic disciplines and remains one of the most widely applied–yet increasingly critiqued–theoretical frameworks in tourism research. Despite its widespread use, there is a notable lack of critical reflection on its adequacy in capturing the complexity of tourist behaviour and a limited exploration of alternative theoretical pathways. This paper addresses this gap by critically evaluating the appropriateness and limitations of the TPB in tourism research. Special attention is given to the Theory of Reasoned Goal Pursuit (TRGP), a recent extension of the TPB, alongside complementary frameworks from parent disciplines …

Advancing Sustainable Tourism Behavioural Research: A Metacognitive Perspective, Arghavan Hadinejad, Kourosh Esfandiar, Liubov Skavronskaya

Research outputs 2022 to 2026

The current scholarly inquiry on sustainable tourism behaviour research predominantly relies on cognitive behavioural approaches, particularly exemplified by the widespread application of the theory of planned behaviour among other theories. Given recent advancements in psychology underscoring the necessity to expand beyond conventional cognitive frameworks, the current research aims to integrate metacognitive perspectives in sustainable tourism behaviour scholarship. This perspective explores the reflective awareness and control individuals exert over their cognitive processes which can uncover nuanced factors shaping sustainable tourism behaviour that may be overlooked in traditional cognitive models. Using a critical review approach, this research proposes the adoption of alternative …

Configurations Of Work Design: A Person-Centered Perspective Of Job Demands And Resources In The Healthcare Sector, Arian Kunzelmann, Mina Askovic, Vivien W. Forner, Nate Zettna, Anupama Jolly, Shanta Dey, Helena Nguyen, Anya Johnson, Sharon K. Parker

Research outputs 2022 to 2026

Work design is fundamental Human Resource Management (HRM) responsibility, which is crucial for employee well-being. Current HRM research on work design largely relies on variable-centered approaches. We argue that a person-centered approach uncovers more complex interaction patterns that are often obscured and provides a more holistic view of work design. Additionally, work design research often neglects occupational specificity, focusing on universal work characteristics. While this is important for generalizability, it can miss important industry and occupational variations, such as in healthcare. In this research, we focus on both universal work characteristics (feedback, autonomy, and support) and a dominant occupation-specific work …

Pathways To Prosperity: How Tourism Industry Training Reduces Poverty, Panpan Sun, Songshan Huang, Ghialy Yap, Zhibin Lin, Lei Zhao

Research outputs 2022 to 2026

This study investigates the effects of tourism industry training (TIT) on poverty alleviation, considering both direct and indirect pathways. Integrating labour mobility theory, human capital theory, and the tourism-led growth (TLG) hypothesis, we propose a new theoretical framework. Based on panel data from 29 Chinese provinces between 2000 and 2019, the empirical results show that TIT has a significant negative effect on poverty level, depth, and severity, with a larger direct impact than the indirect effect through tourism development. We also find significant regional differences in the impact of TIT on poverty reduction, with TIT having a more substantial impact …

Leveraging Esg Investment To Enhance Labor Employment In Hospitality And Tourism Firms: An Signaling Theory Perspective, Bing Hu, Tianyu Zheng, Songshan Huang, Ke Zhang

Research outputs 2022 to 2026

Despite the growing focus in hospitality and tourism literature on the impact of environmental, social and governance (ESG) investment on corporate performance, empirical research has yet to explore its effects on labor employment, which are critical to economic vitality and social cohesion. Drawing on signaling theory, this study explores the effect of ESG investment on hospitality and tourism firm’ labor employment. The results of a fixed effects panel model suggest that ESG investment positively influences the labor employment of hospitality and tourism firms. Moreover, this positive effect is stronger for hospitality and tourism firms with fewer financing constraints and less …

Navigating The Deep Features Of Change: A Dynamic Approach For Skill Development In The Construction Industry, Keyao Li, Mark A. Griffin, Heap Yih Chong

Research outputs 2022 to 2026

Purpose: Digitalisation promises new levels of productivity and efficiency in construction but requires a well-equipped, skilled workforce to meet future demands. Beyond attracting skilled workers, the industry must understand future skill requirements. This study addresses this need by developing a skill framework that defines key skill levels and patterns in response to evolving demands. Design/methodology/approach: A mixed-methods approach with three consecutive analyses was adopted. First, a theoretical analysis developed a conceptual framework based on work and role performance theories. Second, a scoping review and descriptive analyses provided quantitative insights into the skills covered in current literature. Finally, identified skill groups …

Evaluating The Impact Of Learning And Development On Staff Motivation In International Non-Governmental And International Non-Profit Organisations, Munira Amidkhonova, Michelle Gander

Research outputs 2022 to 2026

The main objective of this study was to understand the impact of learning and development (L&D) on staff motivation in international non-governmental organisations (INGOs) and international non-profit organisations (INPOs), focusing on those organisations operating in the Global South, also known as developing countries. Using a mixed-methods approach, 46 participants with decision-making authority from several INPOs and INGOs completed an online survey to investigate the impact of L&D and organisational factors on staff motivation and how well a model of L&D evaluation was undertaken. Follow-up semi-structured interviews were undertaken with 18 of these participants. It was found that organisations were generally …