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Data breaches are increasingly consequential for many business organizations. How firms address data breaches has substantial ethical and societal implications. However, there is still uncertainty regarding why certain organizations experience more severe consequences than others following data breaches and what actions firms can take to minimize the negative outcomes. To answer these questions, we leverage insights from the literature on crisis communication strategies and attribution theory to predict stock market reactions. We argue that those reactions, as reflected in shareholders' responses following a breach, depend on the nature of attributional information and are contingent upon firms' responses and media sentiment. Analyzing a sample of 287 data breach events in 95 publicly traded US firms over a decade, we found that when shareholders attribute the data breach to internal and stable causes, the firm appears "broken," resulting in a decline in stock market returns. However, our findings also indicate that firms' ceremonial responses and media sentiment mitigate this negative relationship. Our discussion explores the benefits of understanding the role of crisis communication strategies and applying attribution theory within corporate-level studies. We also suggest potential avenues for future research. [ABSTRACT FROM AUTHOR]

In the context of a highly dynamic environment, there has been a notable focus on the development of innovative knowledge assets. The objective of this paper is to investigate whether there is a relationship between CEO power and innovative knowledge assets, and to examine the joint moderating effect of firm size and firm age on that relationship. This can help to achieve the United Nations Sustainable Development Goals (SDGs) like 8: promote sustained, inclusive and sustainable economic growth and 9: promote inclusive and sustainable industrialization and foster innovation. This paper empirically tested the hypotheses based on a sample of manufacturing firms listed on the Shanghai and Shenzhen Stock Exchanges from 2009 to 2019. The fixed effect model was employed to examine the relationship between CEO power and innovative knowledge assets, as well as the joint moderating effect of firm size and firm age. The research results showed that there is a significant positive relationship between CEO power and innovative knowledge assets. Moreover, the significant positive relationship between CEO power and innovative knowledge assets is stronger in larger and older firms. This paper contributes to the existing literature on CEO power and firm innovation, and also offering valuable insights for firms seeking to develop innovative knowledge assets. Article Highlights: CEO power has significant positive impact on innovative knowledge assets. Firm size and firm age moderate the relationship between CEO power and innovative knowledge assets. Firm size and firm age can interact with each other to affect the relationship between CEO power and innovative knowledge assets [ABSTRACT FROM AUTHOR]

The Colombianitos Foundation (CF) is a pioneering youth development organization that utilizes football as a pedagogical instrument to promote life skills, civic values, and social inclusion in vulnerable communities across Colombia. This study aims to challenge the foundational assumption that sport can catalyze positive change and impart civic values, by investigating the perceived change and efficacy of the CFs Goals for a Better Life program on positive youth development in Colombia. Employing a qualitative research methodology, 28 in-depth interviews with administrators and coaches were conducted, followed by a content analysis to identify thematic patterns. The findings reveal CF's transformative capacity in cultivating human capital, social and societal capital, and distinct programmatic characteristics. CF's interventions foster significant behavioral changes, such as improved conflict resolution and non-violent communication, while promoting essential life skills and social cohesion. Moreover, the study illustrates CF's role in generating a ripple effect, wherein the benefits extend beyond individual participants to their families and the broader community. CF challenges entrenched gender norms through its mixed-gender team structure, aligning with SDG 5, and demonstrates a commitment to fostering peaceful, inclusive societies in line with SDG 16. By grounding its approach in evidence-based evaluation and leveraging strategic partnerships, CF exemplifies a sustainable model of sport-for-development. The study contributes to a deeper understanding of sport's potential to drive long-term social transformation, offering empirical insights for future research and intervention design in post-conflict and marginalized settings. [ABSTRACT FROM AUTHOR]