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Maintaining adequate liquidity while preserving profitability remains a central challenge for commercial banks because liquid assets strengthen resilience but typically generate lower returns than loans and other earning assets. This study investigates the effect of liquidity on the profitability of U.S. commercial banks using 8,000 quarterly bank observations for 2010–2024. Profitability is measured by return on assets (ROA), with return on equity (ROE) used for robustness, while liquidity, capital adequacy, the loan-to-asset ratio, and bank size are modeled as explanatory variables. Pooled OLS, fixed-effects, and random-effects estimators are compared, and diagnostic tests support a two-way fixed-effects model with standard errors clustered by bank and quarter. The preferred estimates show that a one-percentage-point increase in the liquidity ratio reduces annualized ROA by 0.0183 percentage points (SE = 0.0031; p < 0.001). A one-standard-deviation rise in liquidity, equal to 5.52 percentage points, lowers ROA by approximately 0.101 percentage points, representing 9.2% of the sample mean ROA of 1.097%. Capital adequacy increases ROA by 0.0530 percentage points, and the loan-to-asset ratio increases it by 0.0148 percentage points, both at p < 0.001, whereas bank size is insignificant (β = 0.1008; p = 0.352). The ROE robustness model also yields a negative liquidity coefficient of −0.1074 (p < 0.001). The findings confirm a measurable liquidity–profitability trade-off and support risk-sensitive liquidity regulation that protects financial stability without encouraging persistently excessive holdings of low-yield liquid assets.

The successful achievement of the UN Sustainable Development Goals (SDGs) largely depends on human behavior. Will people act sustainably when they consume, work, travel, or simply go about their lives? Only if the answer is yes can we truly make progress toward sustainability. Research into what influences SDG-supportive behavior has identified several factors. However, some studies emphasize knowledge, others highlight economic barriers, and still others focus on traits and psychological factors—rarely all at once. In this paper, we aim to broaden this perspective. By reviewing multiple sources, we develop and empirically test a comprehensive model of sustainable behavior. We propose that awareness of sustainability issues influences how individuals interpret and understand societal challenges. At the same time, a person’s motivational orientation will determine whether they internalize sustainability values as their own beliefs and develop positive attitudes toward the SDGs. Nonetheless, even if individuals strongly believe in sustainability, their actions also depend on other factors. Using data from the Japan Household Panel Survey on Sustainable Development Goals, this study constructs psychometric measures and creates a nomological framework to examine the mechanisms behind the formation of sustainability behavior. The findings suggest that prosocial peace orientation and awareness of sustainability issues positively influence sustainability values and attitudes, which, in turn, shape sustainability behaviors.

This study examines the impact of wage disparities on employee performance within Zimbabwe's telecommunication industry using advanced structural equation modelling techniques informed by recent post-pandemic organizational behaviour research. A quantitative research approach was employed, collecting data from 227 respondents across various job levels in Harare through structured questionnaires. Data analysis was conducted using structural equation modelling, incorporating recent methodological advances in measurement invariance testing and multi-group analysis. Results reveal significant wage differentials with employees perceiving substantial unfairness in wage distribution. The structural model demonstrates that wage disparities significantly impact employee performance, with regulatory frameworks and economic instability identified as primary contributing factors. Organizations should adopt AI-enhanced transparent compensation systems and implement performance-based wage structures informed by recent Environmental, Social, and Governance frameworks to enhance employee satisfaction and organizational performance. 

Access to clean and safe water remains a critical development priority under Sustainable Development Goal (SDG) 6. However, water service providers in Sub-Saharan Africa, including Kenya, continue to experience performance challenges associated with governance, infrastructure limitations, and leadership effectiveness. This study examined the moderating effect of employee engagement on the relationship between exemplary transformational leadership and the performance of selected water and sewerage companies in Kenya. Grounded in transformational leadership theory, the three-component theory of work engagement, and the balanced scorecard framework, the study adopted a positivist philosophy and a quantitative cross-sectional survey design. Data were collected from 328 employees drawn from 13 public water companies operating under the Athi Water Works Development Agency using structured questionnaires. Exemplary transformational leadership was measured through three practices—modeling the way, challenging the process, and empowering followers—while employee engagement was assessed through vigor, dedication, and absorption. Organizational performance was evaluated using indicators of service quality, economic efficiency, and operational sustainability. Descriptive statistics, Pearson correlation, and moderated multiple regression analysis were conducted using SPSS version 27. The findings revealed that exemplary transformational leadership and employee engagement significantly and positively influenced water company performance. Importantly, employee engagement significantly moderated the relationship between exemplary transformational leadership and performance (β = −0.689, p < .05), indicating a buffering effect in which leadership had a stronger impact under conditions of low engagement. The study contributes to leadership and public sector management literature by empirically validating the moderating role of employee engagement within Kenya’s water sector. It recommends integrating employee engagement strategies with leadership development initiatives to enhance service delivery, operational efficiency, and long-term sustainability in water utilities.

The airline industry faces persistent profitability pressure stemming from high fixed costs, intense competition, and macroeconomic volatility. Since the entry of low-cost carriers (LCCs), ancillary revenue—defined as income generated from services and products supplementary to the core ticket—has evolved from a peripheral activity into a strategic financial pillar for both full-service and low-cost airlines. This study investigates the determinants of passenger willingness to pay (WTP) for à la carte ancillary services and identifies behavioural and demographic profiles that predict purchase frequency. Using a survey of 254 air travellers and a multi-method statistical approach (Chi-square tests, Mann–Whitney U tests, and Kruskal–Wallis with Bonferroni-corrected pairwise comparisons), six hypotheses are tested. The results demonstrate that (i) passengers familiar with à la carte services allocate significantly larger travel budgets to such services (p < .05); (ii) frequent travellers (>5 flights/year) are significantly more likely to purchase à la carte services (χ² = 8.44, p < .01); (iii) frequent-flyer programme (FFP) members purchase ancillary services at substantially higher rates (χ² = 9.70, p < .01); and (iv) contrary to common managerial intuition, short-haul passengers purchase à la carte services more frequently than long-haul passengers (χ² = 4.51, p < .05). Wi-Fi access is valued across all age cohorts without statistically significant differences. The findings extend the revenue management literature by empirically validating familiarity and loyalty-programme membership as the strongest behavioural predictors of à la carte WTP, and offer actionable guidance for targeted personalisation, segmentation, and dynamic pricing strategies. Implications for machine-learning-driven ancillary recommendation systems are also discussed in light of recent advances in offer management (2022–2025).

This paper examines how uninsured deposits influence credit union funding and whether private excess deposit insurance alters the stability, pricing, and lending capacity of uninsured deposits — deposits that exceed the federal deposit insurance limit. Using U.S. credit union Call Report data from 1995–2022, we exploit variation across institution size, insurance regime, and participation in optional private excess deposit insurance.  We distinguish between pre-crisis (1995–2007) and post-crisis (2009–2022) periods surrounding the 2008 expansion of federal insurance limits.  We document pronounced heterogeneity across the size distribution.  For small credit unions, uninsured deposits are limited in scale and are associated with lower loan intensity.  In contrast, uninsured deposits play a central funding role for large credit unions, which account for 94% of industry assets and 97% of uninsured deposits. For these institutions, uninsured deposits support lending and command higher funding costs — effects that are significantly moderated by excess deposit insurance, reducing funding costs by approximately 27 basis points during the pre-crisis period.  Following 2008, excess insurance participation declines among large institutions but increases modestly among small firms.  Overall, excess deposit insurance functions as a partial substitute for federal coverage, stabilizing uninsured funding without increasing delinquency rates — evidence against moral hazard.

This study examines how first-generation immigrants in the United States plan for retirement, report income, and engage with the Social Security system. The analysis combines an original anonymous survey of 120 first-generation immigrants with descriptive, correlational, and illustrative aggregate evidence constructed from Social Security Administration, Census Bureau, and related institutional data for 2013–2023. The survey results show three consistent patterns. First, retirement knowledge is limited: most respondents do not understand how Social Security benefits are calculated, yet a large majority would attend retirement-planning workshops. Second, financial behavior is shaped by legal status and labor-market formality. Tax filing rates are high overall, but underreporting incentives are stronger among respondents paid in cash and among groups facing legal or administrative uncertainty. Third, family obligations materially affect long-term planning. Many respondents prioritize supporting relatives over retirement savings, and women report lower earnings despite comparable English proficiency and, in this sample, higher educational attainment. Over 2013–2023, Social Security program income and program cost rose alongside the immigrant population, but this aggregate exercise is illustrative only, is not causal, and cannot identify immigrants’ net fiscal impact on the system. The paper’s main contribution is therefore behavioral: it shows how limited knowledge, payment formality, and family obligations shape retirement planning within a non-representative regional sample of first-generation immigrants.

We study the sinking fund provision in 1,533 nonconvertible corporate bonds issued from 1980 to 1996 with the year 1996 being the last year of inclusion for these provisions in fixed coupon non-convertible corporate bonds. The period 1980 to 1996 is classified as the period of high interest rates (Tewari, Byrd, and Ramanlal, 2015). We find that the provision addresses agency issues due to reinvestment risk, credit improvement, and growth options. When the interest rates are high, investment grade issues with sinking fund have longer maturities (> 20 years) by a ratio exceeding 4:1, while non-sinking fund issues have shorter maturities (≤ 20 years) by a ratio of about 2:1. High yield issues with sinking fund experience credit risk improvement, while non-sinking fund issues experience credit risk deterioration. When the rates are low and expected to rise, the provision is likely to present accumulation threat to the firm thereby, deterrent to its use by the firms. Also, firms use the sinking fund as a call option to capture the benefits of growth. These results suggest that the sinking fund provision has the potential to make a comeback in the corporate debt in a high-interest rate environment and when the rates are likely to fall. The current environment of persistent high rates presents conditions ripe for inclusion of the sinking fund provision in the corporate bonds.

This study examines the ethical beliefs of Turkish consumers using a modified version of the Muncy-Vitell Consumer Ethics Scale (CES). Turkey’s ethical climate faces challenges such as copyright violations, environmental pollution, deceptive advertising, unsafe products, bribery, and ethical misconduct in business and politics. Focusing on frequent purchasers, the research assesses consumer ethics in shopping behaviors. While prior studies suggest some Turkish consumers engage in unethical practices, this study reveals a heightened sensitivity toward unethical behavior among respondents. Given Turkey’s status as a Muslim-majority country, the influence of Islamic ethical principles on consumption patterns warrants deeper investigation. The findings contribute to understanding how cultural and religious values shape consumer ethics in emerging markets, offering insights for policymakers and businesses aiming to promote ethical consumption.