This study examined older adults’ experiences of participating in the Ballistic Exercise of the Lower Limb (BELL) trial, involving 12-weeks of group-based hardstyle kettlebell training.In the BELL trial, 28 insufficiently active older adults  completed six weeks of face-to-face group training, and six weeks of home-based training. In-depth semi-structured interviews were audio recorded, transcribed, and inductively coded, with themes constructed from patterns of shared meaning.Four higher-order themes were developed that reflect older adults’ experiences participating in a group-exercise program of hardstyle kettlebell training. These included: (1) “It’s one of the best things we’ve done”—enjoying the physical and psychosocial benefits, (2) “It’s improved it tremendously!”—change in a long-term health condition, (3) “It put me on a better course”—overcoming challenges, and (4) “I wasn’t just a number”—feeling part of a group/community.Findings highlight the perceived physical and psychological benefits of older adults participating in hardstyle group kettlebell training, and the value attributed to being part of an age-matched community of like-minded people engaged in group exercise. Implications for program design and delivery, and future research, are discussed.The online version contains supplementary material available at 10.1186/s12877-022-03174-5. Life expectancy is increasing in many countries worldwide . Recent The health benefits of regular exercise are well documented , 26, wit‘Resistance training’ uses the external resistance of machines and free weights, such as dumbbells and barbells, to improve muscular fitness. A kettlebell is a type of free weight resembling a cannonball with a handle, with which a wide range of resistance exercises may be performed. Kettlebell training, popularised by Pavel Tsatsouline in the 1990s and early 2000s , has beeHealthcare providers have an important role in promoting and prescribing physical activity and exercise as part of routine care , with hiThe study was approved by the Bond University Human Research Ethics Committee (NM03279), with the design, conduct, and reporting of this study adhering to the Consolidated criteria for reporting qualitative research (COREQ) guidelines . The stun = 1), injury (n = 1) and no longer able to attend (n = 1). Twenty-nine participants commenced training, with 28 completing six weeks or more. All participants in the present study completed at least half (≥ six weeks) of the training intervention . One male, who withdrew due to work in the second week of the intervention, was not invited for interview. All remaining participants in the BELL trial were interviewed, including four participants who withdrew: substance abuse and mental health (n = 1), low back pain (n = 1), viral infection (n = 1), uncontrolled hypertension: GP requested (n = 1). All participants were Caucasian. Comorbid health conditions at baseline included: obesity, controlled hypertension, depression, diabetes, peripheral neuropathy, osteoporosis, sarcopenia, cancer, osteoarthritis (hip and knee), persistent non-specific low back pain, Ankylosing spondylitis, hypercholesterolemia, immunosuppression, migraines, alcohol dependency and poor sleep.Thirty-two apparently healthy, but insufficiently active older adults (59–79 years), were recruited to complete 12-weeks of moderate to high-intensity hardstyle kettlebell training as a part of the BELL trial. Three participants withdrew during the control period: medical condition , and completed prescribed home exercise twice-weekly (Tue & Thur). Face-to-face group classes were conducted by the first author for six weeks, then remotely thereafter due to COVID-19 restrictions. The first author is a 45-year-old male kettlebell instructor and physiotherapist. Several strategies were used to enhance participant engagement, including frequent individual and group encouragement , daily communication via a private Facebook group and email , and encouraging post-workout gatherings (on-site café) to promote social connection outside of class. Additionally, the instructor took part in the training where possible, to be seen as an active part of the group experience.The BELL trial utilised a 12-week control period, followed by a 12-week intervention,, with the participants fully aware of the goals and objectives of the research. This provided the researcher with a unique opportunity to interact with the participants, and for thoughtful and reflexive engagement in the qualitative data which were subsequently collected. One in three participants who commenced training in February 2020, continued to train together beyond the intervention period (June 2020), and were still training weekly at the time of pre-print publication. The first author remained in regular contact with the group to the time of publication.th—15th May 2020, commencing three working days after completion of the planned intervention period. A study timeline and changes made due to the covid-19 pandemic, are reported elsewhere … my wife won’t let me tie up the garbage bins with the bags [anymore], because when I tie them up now in a knot I tear the bag completely!” Samuel, 70-74 years oldParticipants described an improved sense of self-confidence from feeling fitter and stronger.Participants reported being more engaged in incidental physical activity, and less breathless with prolonged exercise, such as long walks and climbing hills. Participants were happy and excited to be re-engaging in physical activities which they had previously cut back, or stopped doing altogether, and being more active with their partners. Domestic activities, particularly those involving relatively heavy objects such as carrying shopping bags, moving furniture to clean, and gardening, were said to have become much easier.“I’m walking, going out with the wife, doing things, and I’m confident in myself as I walk around that I’m not an ‘old’ person, I’m [an older person] that looks healthy and I’m quite enjoying that. …Having the opportunity to do something, seeing it through, finishing it, being able to challenge myself; I’m a different [man]” Alan, 70-74 years old.Participants described feeling more energetic and motivated. They enjoyed having goals to aim for, and felt proud when they were able to reach and exceed them. Participants liked the discipline of having to be somewhere and do something every day, and appreciated that it was “fun”, with an opportunity to meet people and make new friends. Participants felt that the training had changed their appearance, describing muscles in their arms and legs has having more tone. They described how others in the group appeared to be walking taller, and family members had noticed that they were carrying themselves differently and doing more around the home.Participants said they enjoyed learning something new. They liked that the training was challenging, the competitiveness of trying to better their own achievements, and comparing themselves to the performance of others in the group. Competition and goal-attainment gave a sense of accomplishment, and participants enjoyed being able to record and track their progress. Participants liked that training sessions were always different and said that not knowing what to expect each class had kept it interesting and made them feel engaged. Participants joked about “old” stereotypes and described the factors that had reinforced feelings of still being very physically capable: learning exercises they perceived to be too hard, being able to do things which they thought would be beyond their capacity, getting to the end of a hard training session, and attaining a new ‘personal best’.“Just having a shower, I used to get tired, and as for getting dressed, … I don’t have to hang on to something so I don’t fall over. … cutting my toenails, I never used to be able to do that by myself. …I used to tire out walking up a set of stairs, but now I can do that easily… It’s just been unbelievable the difference in myself. … for me to achieve what I’ve been doing being a smoker, well I just can’t be happier. It’s just unbelievable what I can do. … If somebody had told me I’d feel like I do now, I wouldn’t have believed them, … It’s just made me so much [more] enthused, like if I want to go across the road to get the paper, I wouldn’t ever think about jumping in the car now, I’d either hop on my bike or walk because you can do that now, … it’s one of the best things we’ve done… I feel so much stronger.” Peter, 70-74 years-oldParticipants reported sleeping better and feeling healthier. Exploring their physical limits with heavy weights, and pushing themselves hard, had been empowering; it gave them the confidence to perform physical tasks that they had previously been anxious about, or avoided altogether. Several participants also described an improved balance, including one whose balance had been adversely affected by chemotherapy. This had increased their confidence during day-to-day tasks requiring greater balance, such as walking up and down stairs while carrying objects, and climbing in and out of a bath tub.“I’ve got a lounge chair at home which is relatively low, and I purposely hop up from that chair by not using [my] arms… I put my arms out in front of me and stand up from below normal seat height and I do that every time now and I haven’t got a problem with it. Before, I’d either have to push myself up, or turn over to one side and then stand up. I don’t do that anymore”. Thomas, 70-74 years oldParticipants described being more flexible, and how activities such as rising from a low chair had become easier. These improvements in physical function made participants feel good about themselves, which had been reinforced when friends and family noticed the positive changes, or friends their own age told them they couldn’t or wouldn’t be able to do what they were doing.Many of the participants described how the training had positively influenced a long-term health condition, which had negatively affected their life or physical function. These conditions included hip and knee arthritis, persistent non-specific low back pain, osteoporosis, diabetes, peripheral neuropathy, cancer, ankylosing spondylitis, migraines, alcohol dependency, immunosuppression, obesity, hypertension, hypercholesterolemia, depression, and poor sleep.“Since I adjusted the exercises, I’ve been enjoying it because I don’t have the pain. If you’re enjoying doing it, it’s a motivation to do it… the pain abated, and I still got fit, so it was good”. Spencer, 65-69 years oldAll participants who said they had painful arthritic knees described a significant reduction in pain after the trial. In a few cases, participants said their symptoms had initially been irritated or worsened by some exercises, such as lunges, but all the participants who had been living with sore knees reported significant improvements in their arthritic knee pain and function at the end of the trial:“I can carry three loads of groceries up the stairs and… they’re quite steep, whereas before with my knee I couldn’t do it”. Abigail, 65-69 years oldParticipants either adapted an exercise so that it was more comfortable, or they chose to push through discomfort regardless. One participant with knee arthritis said he no longer had any pain.“My migraines, they’re less frequent and less severe… to me, wellbeing is not feeling sick with a headache or not having the same nagging pain in my hips… [my] overall well-being is much better… I used to have to go and have massages nearly every week, and I haven’t been once since I’ve been doing kettlebell [training]… I’m not constantly looking down to see that I’m not going to trip over… I’m not feeling as unsteady… I’ve had such a good response to it… I sleep like a baby” Janice, 60-64 years old.Participants described significant reductions in other painful conditions. One participant, who consistently performed considerably more home exercise than required, had been living with frequent migraines, pain associated with an inflammatory arthropathy, frequently had insufficient sleep, and had a history of trips and falls. After the trial, she reported less frequent headaches, less pain, improved sleep, and better balance:“When I was getting out of bed before I started the trial, [I] always worried about [my] back going or something, but now I just can’t believe how much stronger my back is now. I’ll get up in the morning, get out of bed and there’s just not one bit of pain in there… It’s definitely one hundred percent better than what it was before I started the trial. It’s just unreal, I can’t believe it.” Robert, 70-74 years old“I’m thrilled! I’m fit as a fiddle, I feel good, I sleep well, and I have no more back problems. I used to have once a month a physio come here to maintain my back  I think I don’t need him [any more], I’m fine.” Georgina, 70-74 years oldSeveral participants had also been living with persistent low back pain. Except for one individual with a 50-year history of back pain who withdrew from the trial, everyone living with back pain described significant improvements in their symptoms and function.“This was the challenge I need… it’s given me the motivation to continue and that’s sort of saving me… this has been brilliant… I’m actually scared coming out the other side of this… I’m still in a bit of trouble…I have to keep going with this otherwise I’ll go back to where I was last year and not in a good place”. Katherine, 70-74 years oldParticipants described feeling mentally buoyed by their participation in the trial. The profound positive psychological impact that engagement in the trial had, was most powerfully described by one participant who had been living with a mental health disorder for 20 years:“When you said we’d be swinging this thing above our head, everybody’s like ‘well I won’t be doing that’ and ‘that won’t be me’, and then when we all did it, it’s like, ‘we can do this, we’ll just keep on going’. That was good; that you got us to do something that I think we were all a little bit hesitant about, [but] by the end of it, that’s my favourite thing, I love it”. Irene, 60-64 years oldParticipants described the training as being harder than they had expected, at times uncomfortable even painful. Swinging the kettlebell overhead to perform a snatch was difficult to learn and created a sense of fear and apprehension among participants who found it difficult or impossible to press an 8 kg kettlebell overhead. But the participants persevered with the training, improved their technique, worried less, and even learnt to enjoy the some of the things they had found to be most challenging at the start.“When we first had to do those … I thought I was slow as molasses. I had an ache and pain here and there and now I find myself using the Turkish get-up if I’m sitting on the floor”. Lucy, 65-69 years oldParticipants found it was not easy to get up and down from the ground to perform a Turkish get-up, describing insufficient lower limb strength, not having enough flexibility, or having sore knees. Participants who really struggled with the Turkish get-up it, or said the lunging movements irritated their knees, found it demotivating. But they persevered and found ways to make it easier, so that they could do it. The Turkish get-up pattern was widely recognised as a floor transfer. Participants saw it as having more value than some of the other exercises because they could see how they were able to use it at home. One participant described how he had jumped onto a kitchen benchtop and performed a Turkish get-up to change a lightbulb. Participants described an increased sense of physical self-confidence having practiced and improved their ability to stand up from the ground.“[I thought to myself] that was too easy, am I doing it correctly? … how hard can it be, you’re just stepping up and down. I just kept going and I couldn’t move the next day. It was really bad [laughing]… It was so easy to do I thought this is nothing. It wasn’t until the next day, I thought holy cow! The [DOMS in my] calves on both legs was shocking, I could hardly move”. Iris, 65-69 years oldDelayed onset muscle soreness (DOMS) affected most participants, particularly in the first few weeks, sometimes occurring after exercises described as “easy”. Many participants were unfamiliar with the sensation of DOMS and unprepared for how it might impact them. In some cases, participants were reluctant to move much because of the discomfort, sufficiently concerned to describe it as “severe”. None of the participants allowed muscle soreness to prevent them from fully participating or allowing it to get in the way of their continued engagement with the group. Participants with a history of using resistance exercise were much less affected by muscle soreness and generally undeterred by it, and for some, muscle soreness was seen as positive, because it made them feel like they had done something which was “working”, and it brought back happy memories of being younger and more physically active. When aches and pains occurred, participants remained stoic and carried on regardless, describing a shared commitment to the trial and a determination to reach the end.“The fear [that] people my age have about injury is paramount. We all like to be brave and like to think that we can do things, but sometimes either we don’t do as much as we should and can [do] for fear of hurting ourselves. We just need that extra encouragement to realise, yes, you can do this and it’s okay”. Kathy, 65-69 years oldParticipants living with pain commonly held maladaptive beliefs and behaviours relating to perceived risk of harm, believing they might hurt themselves if they pushed too hard, lifted too much, or did something which was too uncomfortable.“I was really hesitant beforehand. I think I said to you very early, ‘aren’t we going to hurt our backs doing this?’ and you said ‘no’. … That’s been on my mind all the way through; at some stage I’m going to do my back, but I never did. … now there’re no inhibitions with what I’m doing, I’m confident … that I’m not going to hurt myself”. Ken, 70-74 years oldRegardless of their concerns, participants continued to push themselves very hard. This was typified by ‘Ken’ who had previously been a competitive sportsman. Ken accumulated, by a very large margin, the highest training load volume in the group. He was so motivated and capable that he felt he was not being pushed hard enough: “at times, I just felt I was held back a bit with what I wanted to do”, and later went on to comfortably perform two-handed swings with a 40 kg kettlebell at home. But, after three decades of occupational health and safety training with his employer, Ken started the trial anxious that poor core strength and technique just leaning across the bed to pull up the doona (duvet) might hurt his back:“I valued ‘you’ the most, because the time and effort that you put into all of us was awesome, and just the confidence that I had that you knew what you were talking about and that you cared about what we were doing and how we were doing it… I had a lot of confidence; that to me was the most important thing” Janice, 60-64 years old.The training created numerous physical, psychological, and emotional challenges for the participants, to the extent that some thought about quitting in the early stages. However, no participants quit for any of these reasons, instead choosing to persevere and overcome them. A strong sub-theme, which overlapped with the participants’ enjoyment of the program, was the instructor’s role in facilitating this collective can-do mindset. Participants reported that the instructor’s personality, enthusiasm, leadership, encouragement, and happy, helpful demeanour, had been motivating and that was why they had continued to push themselves as hard as they had, often despite obvious challenges.“I was starting to I think I was getting old and decrepit and demented, and that (training) picked me up out of that black hole… you got us all going; it’s your personality… that made me go harder than I would have… I was so buoyed because of the improvement in my physical health… It put me on a better course going into my older years that’s for sure.” Sean, 70-75 years old.The participants’ attitude toward overcoming challenges was exemplified by Sean, who had experienced persistent shoulder pain for more than half of the trial. During the trial he was also diagnosed as iron deficient, told he had arthritic knees bad enough to warrant surgery, that a rotator cuff problem was the cause of his shoulder pain, and needed surgery to correct cataracts:The spirit of the group was perhaps best displayed by Samuel who, in his 70 s, had volunteered to participate shortly after a life-changing conversation with his doctor. After his GP had questioned why he wanted to participant in the trial, Samuel told his doctor that he just wanted to be as healthy as he could be. Facing significant adversity, Samuel successfully completed the trial describing remarkable changes in his physical and mental health, all while performing swings at home with a 36 kg kettlebell.“In the group, I found that I was more open to being nicer and more inclusive with more people, so it really taught me that I can be part of the group and enjoy people.” Andrew, 65-69 years oldThe group dynamic was one of the strongest perceived benefits for participants. Being among people of a similar age, with varying abilities, provided participants with a rich and rewarding social connection. The camaraderie was fun and enjoyable, and allowed participants to support and encourage one another to succeed and push themselves harder than they would otherwise have done on their own. The group environment, where everyone was starting as a beginner, also gave participants the opportunity to try something new. Participants were more likely to engage in structured exercise if it was with others, and felt part of a positive, supportive, and encouraging community. Andrew, who described himself as a loner, said:“They were all so happy to see me and it just made me feel that I wasn’t just a number; I was appreciated and that everyone cared how I was, and they didn’t [even] know me very well, … it just made me feel good, … I felt more positive about coming back, … [it] just made me realise how much I was enjoying it, … coming back, … made me realise how good I had been feeling, … I suddenly realised there were so many positive things that I’ve been experiencing that I’d overlooked and then when I got back, I realised, ah, this is what I was actually experiencing.” Sandy, 60-65 years oldMen described being competitive more frequently than women, and competitiveness was regarded as beneficial, irrespective of how well someone was perceived to be doing in training. For example, those who were doing “better” typically enjoyed being able to help their partners when they were struggling, while those “chasing” the leaders, appreciated seeing someone their own age doing better than them, as it gave them something to aim for; “if they can do it, then so can I!” Participants especially enjoyed activities performed in pairs, as this allowed those who had formed social friendships outside of the gym to work together. The value of the group dynamic was typified by Sandy who, after a short period of absence due to back pain, was worried that others had progressed without her, and that she may not be accepted back into the group:The value of the social connection which the group provided, was most profoundly felt when face-to-face training was cancelled due to COVID-19 restrictions. Participants missed seeing the people they had formed new friendships with, and found it difficult to maintain the same level of motivation to train at home. This was somewhat mitigated by a private Facebook page, which allowed people to connect on a social level and share their progress, watch video recordings and live streams of training sessions, and take part in frequent ‘challenges’. The value of the social connection and support was perhaps most poignantly expressed by one participant whose partner was very unwell throughout the trial: “the contacts and friendships I’ve enjoyed from your trial have been and still are the most beneficial and a comfort to me”, Jennifer 65–69 years old.The purpose of this study was to investigate the experiences of participants in the BELL pragmatic controlled trial. The aim of the BELL trial was to assess the effectiveness of three months moderate-to-high intensity group-based hardstyle kettlebell training, on grip strength and health-related physical fitness, in healthy but insufficiently active older adults. In this accompanying qualitative study, we sought to answer the question: was engagement sufficiently high and positive, to warrant a recommendation that group-based kettlebell training initiatives be used to promote healthy ageing in the community?The results of this study offer some insight into the physical and psychosocial health benefits, and challenges, for older adults training with kettlebells. Sickness, medical procedures, and muscle soreness had negligible impact on rates of attendance and compliance, which remained very high. Participants perceived group training to be a friendly, supportive, and encouraging environment, where they could meet like-minded people of a similar age and make new friends. In the following sections we discuss the results in the context of existing literature, make recommendations for group-based community kettlebell programs for older adults, and consider directions for further investigation.Many of the findings in the present study, echo those of the ‘GOAL’ trial , which iEnjoying the physical and psychological benefits. Participants described doing more around the home, and engaging in activities which they had previously found difficult, or had avoided altogether. Perceived benefits of feeling stronger and fitter, enhanced perceptions of physical appearance, and increased self-confidence, were consistent with previous studies , 54–57. Results from this study suggest that group-based kettlebell training, improved older adults’ perceptions of health and wellbeing, increased incidental activity, and enhanced their functional capacity to perform activities of daily living. Participants enjoyed the variety of exercises that kettlebell training provided, which is important for enjoyment and engagement , 62. TheThose with long-term health conditions, such as knee osteoarthritis and back pain, spoke of the training having disconfirmed maladaptive beliefs and behaviours relating to their condition. This is important, as these fears can be a barrier for older adults remaining active in later life , 63. PaiLeveraging a social support network can enable someone who is living with pain, to participate in and be able to enjoy physical activity and exercise, despite their symptoms . ThorntoParticipants who were living with long-term health conditions, described characteristics of grit and determination in overcoming the challenges of pain and unpleasant symptoms. Improved motivation and increased self-efficacy were reported to have come from the direction and guidance provided by the instructor, and the support and encouragement of peers. Exercise and physical activity in all its forms, can be used as a coping strategy for people living with painful conditions. Additionally, people living with pain seek opportunities to be active and want guidance from their healthcare provider . Person-Overcoming challengesThe intervention was not however an optimal fit for all participants, with some asking to do more, and others saying they might have preferred a more moderate intensity and slower pace. This suggests a need to identify individuals likely to benefit from a different approach to program delivery, i.e., groups of a similar physical capacity, same sex, or one-on-one. Some participants expressed that they may have preferred to train with someone of a similar physical ability to themselves; a condition previously reported to undermine enjoyment and sense of connection to a group , but an Being part of a community of similar-age people and having a social network, was a strong theme, consistent with previous studies , 72. TheParticipants described feeling supported by a competent, enthusiastic, and encouraging instructor who was motivating, and inspired confidence. The importance of the instructor in group exercise for older adults has previously been described , 77–79, Echoing the work of Tulle and Palmer , particiMost Australian adults expect to receive advice about physical activity from a physiotherapist, and feel this is important . TherapiThe BELL trial intervention was a replication of a community-based program, which had been delivered within a physiotherapy private practice. Based upon the clinically significant effects of kettlebell training , and theThis study has several strengths. First, the BELL trial was a replication of a successful community-based initiative. Healthy ageing is a high-priority focus of clinical practice, and results of the trial were compelling. The findings of this study increase our confidence that a similar community-based program, to promote healthy ageing, is likely to succeed. Second, appropriate procedures and practices were used to collect and analyse the data, sufficient to support the conclusions. Third, the findings are sincere and credible. The results extend our understanding of engaging with older adults in structured programs of group exercise, and challenge many preconceived notions of ageing, which may presently be a barrier for healthcare providers.Despite the strengths of this study, it is not without limitations. Firstly, although the well-established relationship between the examiner and participants throughout the intervention and the present study, facilitated open and frank discussion, bias may have positively skewed participants’ responses. Secondly, the researcher’s role in knowledge production is at the heart of reflexive thematic analysis; themes evoke participants’ voices, but ultimately tell the researcher’s story about the data, which is a subjective interpretation developed with theoretical assumptions, which have been made through the lens of a particular social, cultural, disciplinary, and ideological position. Thirdly, the degree to which individual personality may have influenced the results of this study, are unknown . FinallyThe experiences of participants in the BELL trial, reveal the efficacy and perceived health benefits associated with group-based hardstyle kettlebell training with peers of a similar age, and highlight some of the challenges of delivering a group-based kettlebell program that meets the diverse needs of older adults. Group training provided a valued opportunity for participants to build a new social support network, which greatly contributed to the participants’ enjoyment of the training and high rate of engagement, with the instructor likely to be influential in optimising outcomes. Age, training status, sex, and health condition did not negatively impact engagement or participation in the training. Training performance for participants living with a chronic health condition or persistent pain, challenged their self-schema, often disconfirming maladaptive beliefs and behaviours. Participants’ experiences in this large-scale replication of a successful clinic-based group-exercise program, indicate that a pragmatic approach to hardstyle kettlebell training may be an effective means of engaging insufficiently active older adults in regular resistance-based exercise in the community, with minimal barriers to entry. These results corroborated earlier studies highlighting the value of the social features of group-exercise, in fostering a supportive social environment to optimise participants’ health and wellbeing. Further research is warranted to optimise program design and delivery within community settings, to test subgroups of older adults in a clinical framework, and to identify strategies which support long-term engagement. The findings of this study, in conjunction with the results of the BELL trial, provide sufficient evidence to support a recommendation that group kettlebell training initiatives, delivered by appropriately trained individuals, should be used to promote healthy ageing in the community. Additional file 1. Survey Monkey Questionnaire_your kettlebell experience.Additional file 2 Survey Monkey Questionnaire_positive and beneficial effects.Additional file 3. Survey Monkey Questionnaire_negative and undesirable effects.


The Ball’s in Your Court was developed and piloted. Findings suggest that it can be used to engage young men in supportive care and may be effective at improving health and wellness throughout survivorship in this population. Testicular cancer is the most common cancer diagnosed in adolescent and young adult men. The disease, fortunately, has a high survival rate, meaning that many survivors need long-term, follow-up care. A lack of engagement in such care, however, continues to be a problem for this population. One promising model of supportive care that appears acceptable and appealing to young men is the community-based model. Yet much of the community support research is observational and descriptive. In this study, a five-week community-based sports health promotion intervention named, The Ball’s in Your Court intervention was designed to engage testicular cancer survivors in supportive care by leveraging a community-based sport and exercise model. Age-appropriate, gender-sensitized, and disease specific elements were reflected in the intervention design, setting, content, and delivery. The intervention included five weekly health promotion sessions among a group of testicular cancer survivors. The purpose of this study was to explore the intervention’s (i) feasibility and acceptability, (ii) effects on testicular cancer survivors’ perceived health, and (iii) gain feedback for intervention refinement. A total of 10 testicular cancer survivors participated in the pilot and completed questionnaires on demographics, cancer history, perceived health, and physical activity behavior at baseline (pre-intervention) and perceived health and satisfaction with intervention components (post-intervention). Open-ended feedback surveys were collected after each weekly session and researcher field notes were recorded by three members of the study team. One month following the intervention, a focus group was conducted with intervention participants. All participants were satisfied with the intervention. Content analysis of the qualitative data supported intervention acceptability. Visual analysis conducted at the individual level indicated that perceived health either remained stable or improved from pre- to post-intervention. The Ball’s in Your Court intervention provides a feasible and acceptable approach for the delivery of supportive care aimed at improving testicular cancer survivors’ health and wellness. Recommendations for intervention refinement were provided and require future examination.Testicular cancer survivors report unmet supportive care needs that are associated with poorer physical and mental health, yet engagement in traditional supportive care is low.  There is a growing recognition that young people with cancer require tailored medical approaches and supportive care following diagnosis and treatment ,2,3. SupYoung adult cancer survivorship research seldomly focuses on the experiences of men; however, three studies exploring supportive care needs of testicular cancer survivors have been reported. In 2004, Jonker-Pool and colleagues  focused Another study by Smith and colleagues  reportedIn an effort to engage men in health promotion interventions, sport-based intervention models have been successfully developed and delivered in middle aged men ,16,17,18The Ball’s in Your Court  that were designed to be age-appropriate, gender-sensitized, and disease-specific. The resistance training component was entrusted to an expert strength and conditioning specialist who delivered a standard protocol, and the sport play to a varsity coach who led the drills and games. The psychoeducational workbook was developed based on the available literature within young adult cancer survivorship and findings from interviews with testicular cancer survivors [The Ball’s in Your Court intervention was pilot tested. urvivors , as wellImplementing a community program is important for knowledge mobilization in cancer and physical activity research , and morThe Ball’s in Your Court intervention reflected by concurrent and retrospective perceptions of the intervention and its exercise, sport, and supportive care components; (ii) examine changes in testicular cancer survivors’ perceived physical and mental health from pre- to post-intervention; and (iii) gather recommendations for intervention refinement.The aim of the current study was to (i) gather insights into the feasibility and acceptability of The Ball’s in Your Court intervention was pilot-tested at a university campus in an urban Canadian setting. The intervention ran for five weeks and consisted of weekly 90-min group-based sessions (resistance training and sport play) supplemented by a tailored supportive care workbook. Feasibility was assessed in terms of attendance, drop out, and the challenges related to implementing the pilot, and acceptability was explored in terms of satisfaction and the appropriateness of the intervention. Changes in perceived physical and mental health at the individual level were examined using a single-subject design, which is consistent with patient-centered care [red care  and allored care ,33,34. RThe current study included data collection pre-intervention, weekly following the completion of each session, post-intervention, and at one month follow-up. A baseline survey was collected pre-intervention to gain demographic and cancer-specific information, as well as to obtain perceptions of physical and mental health. Weekly open-ended feedback survey responses were collected at the end of each session, and researcher field notes  were documented throughout the intervention delivery phase. Attendance and reasons for missing sessions were recorded weekly. Following completion of the intervention, a post-intervention survey was collected that measured program satisfaction and perceived physical and mental health. Finally, focus group data were collected at one-month follow-up. Data were analyzed separately and then integrated in the results section to provide a detailed representation of feasibility, acceptability, and potential effect of the pilot intervention, as well as feedback on intervention components and recommendations for future delivery . The stuThe Ball’s in Your Court intervention responded to study advertisements that were posted on social media or distributed through local community survivorship and wellness programs. Survivors were given additional study information and were screened for eligibility by a member of the study team. Survivors were eligible if they met the following inclusion criteria: (i) male aged 18 years or older; (ii) had a known diagnosis of testicular cancer ; (iii) had completed treatment a minimum of eight weeks ago; (iv) had no contraindications to exercise ) [A sample size of 12 men was the maximum number of participants for this pilot intervention to ensure adequate and fair training and sport play time. Using convenience sampling methods, testicular cancer survivors interested in participating in PAR-Q+)) ; (v) recThe intervention involved attending 2-h sessions weekly for five weeks. Pre-intervention baseline questionnaires were emailed to survivors one week prior to initiating the intervention. Participants were instructed to complete within-session evaluations immediately following each session and completed a post-intervention questionnaire. After the completion of the intervention, participants were invited to take part in an audio-recorded focus group at one-month follow-up. Researcher field notes were also taken at each session and during the focus group.Participants completed a self-report questionnaire at baseline that included demographic variables  and relevant cancer-related variables . Additional descriptive measures included baseline exercise behavior, which was assessed using the Godin Leisure Time Exercise Questionnaire (GLTEQ) ,38. SurvAligned with previous work ,26, selfTo evaluate feasibility and acceptability of the intervention components without recall bias, weekly surveys were administered to survivors immediately following the completion of each session. Participants were asked to provide feedback on the session through four open-ended questions: (i) Exercise Session (gym): What did you like and not like about today’s gym session; (ii) Sport: What did you like and not like about today’s basketball session; (iii) Psychoeducation Component: What did you like and not like about this week’s workbook chapter; (iv) Other: Please feel free to add any additional comments or suggestions related to the study or your experience participating in the study. At one-month follow-up, survivors were invited to participate in a focus group discussion held locally to the intervention location. A semi-structured focus group guide with open-ended exploratory questions acted as a flexible script to direct the focus group. Questions explored survivors’ experiences, what they liked about the intervention, and how the intervention could be improved. Each of the intervention components  were consistently probed individually. Perceived benefits of participating in the intervention were explored , as well as whether those benefits were maintained. Finally, enablers and barriers to participation and adherence were queried . The focus group was conducted by one member of the research team (AP) who is a female with seven years of experience as a psychotherapist working with men with cancer, and who has previous experience in qualitative data collection. The focus group discussion was audio-recorded and transcribed verbatim, and all identifiable information was removed from the transcripts to ensure confidentiality. Field notes were recorded and collected weekly by three members of the research team involved in the implementation of the intervention . Field nDescriptive statistics  for participant characteristics and satisfaction scores were calculated using R (version 3.5.3)  summary Deductive content analysis was used to analyze qualitative data ,51. DataQuantitative results and qualitative findings were then integrated and interpreted using a weaving approach to develop a richer, more complex analysis of the feasibility and acceptability of the intervention, as well as individual level changes in perceived health and recommendations for intervention refinement . Recruitment spanned six weeks to achieve the recruitment target of 12 testicular cancer survivors. Of the twelve survivors who expressed interest, one interested survivor was unable to attend due to scheduling conflicts and a second became unreachable after initial contact. The remaining ten testicular cancer survivors were screened, met the eligibility criteria, and provided consent. The 10 survivors who participated in the intervention are identified using numbers one through ten , and are described using four-year age ranges to ensure anonymity (see No participants dropped out of the study and no adverse events were reported as a result of participation. Attendance varied week-to-week (50% to 100%), and one participant, who was absent in the final week, did not complete the post-intervention survey. All absences were attributed by participants to either work conflicts or non-cancer-related illness . Although all participants were invited to participate in the post-intervention focus group, only six of the ten participants were able to attend due to scheduling conflicts. The Ball’s in Your Court intervention was generally high. Two thirds of participants reported being very satisfied and the remaining third somewhat satisfied with the intervention overall. All 9 participants who completed the post-intervention survey reported being satisfied with the exercise and sport components, with 56% and 44% reporting that they were very or somewhat satisfied for each component. Satisfaction with the workbook component varied, with 45% satisfied and just over 44% expressing ambivalence . All participants reported having their survivorship needs met as a result of engaging in the intervention, with 44% and 56% reporting that some or all of their needs were met.Satisfaction with To differentiate between the qualitative data sources reported below, acronyms are used to indicate data drawn from weekly open-ended surveys  and the focus group (FG). Context provided by research field notes are indicated in the text.“Just feels really great getting to know guys that have been through it all, we are all having a great time I think. Overall this is fantastic”. (WS3).The Ball’s in Your Court intervention as acceptable overall. Participants attributed their willingness to participate to their recognition of the value of a tailored survivorship intervention. During the focus group discussion, one survivor stated that, “these activities cater to the mental and physical state of a survivor” (FG) and that they should be integrated early on in survivorship. Participants also wrote that the “membership to the gym was great” (WS2) and, as indicated in the field notes, many of the men told the primary researcher that they used the facilities outside of the session time, primarily on weekends. Based on researcher field notes, one survivor informed the group that he had the confidence to join a gym closer to his house prior to completing the intervention and another survivor reported losing 10 pounds by the one-month follow-up. Participants appraised the Participants approved many intervention delivery characteristics, such as frequency (once a week), duration (two hours), and location (university athletics center). However, the start time of 5 p.m. was identified as a potential barrier to engagement and participants suggested starting at 6pm or later. During the focus group, participants discussed a more flexible, drop-in design to accommodate varying work schedules; however, concerns around losing connectedness were raised and this idea was dropped by participants in favor of maintaining a structured intervention. Specific to intervention length, participants communicated a desire for a longer intervention and focus group discussions generated the recommendation of at least six to eight weeks for future interventions. The opportunity to connect with other testicular cancer survivors was identified as an enabler to program participation. When asked during the focus group discussion if the intervention could be inclusive of male participants of other cancer types , one survivor answered, “It is not the same... it is different drugs, different regimes” (FG) and another added that when he had talked to men with other cancers, “It is like you are talking to each other but it is like two different wave lengths” (FG). Participants explained that testicular cancer was a connecting factor, writing that there was “a quiet understanding” (WS1) among each other. Participants added that regardless of any differences in each other’s cancer journey , there was a shared bound, “we all understand where we are coming from”. (FG). It was then agreed that it would be their preference to keep the intervention focused on testicular cancer. In addition, participants wanted social time and activities dedicated to getting to know each other more quickly, with socializing embedded throughout the intervention . Specifically, participants requested organized social events after the session to provide additional opportunities to talk to one another. Nonetheless, this intervention appeared to quell some of the feelings of isolation and to be of value to supportive care “...having this (program) embedded in your follow-up (care) would be amazing” (FG) in order to help reduce those feelings of isolation because “… meeting other testicular cancer survivors makes it less isolating” (WS3).Overall, the intervention was perceived positively, as one survivor stated, “it gave me a boost going back into work and you know physically, get in that physical groove again. I think it kind of perks you up mentally as well” (FG). Another survivor agreed, stating, “I have more energy for sure” (FG) and “...when you start to get in better shape you just feel better about yourself. Definitely more control” (FG). During the focus group a survivor explained “...I am more capable than what I think... I thought the first day I was going to be asking for oxygen” (FG). Immediately, another survivor cut in and said, “You know how that Scotiabank  says, you are richer than you think. You are stronger than you think man” (FG). Researcher field notes commented on the supportive atmosphere throughout intervention implementation and focus group discussions, and participants noted “everyone was very welcoming and friendly” (WS2) and that there was “good support from everyone” (WS5). The intervention was noted as being “great for comradery and team building” (WS4) and field notes indicated the use of humor to discuss their experiences, with one participant writing “a lot of guys connect well by simply cracking jokes” (WS5). “It gave me confidence in my body again. I guess now I can raise the bar in my expectations of what I can do”. (FG).The strength and conditioning component of the intervention was generally positively appraised. Participants reported enjoying the individually tailored nature, as stated by one participant: “I liked the exercises. Everything was modifiable for different levels/experiences. I already see a sense of progression in my physical capacity” (WS3). The opportunity to work with the strength and conditioning coach was valued by participants, as one participant stated that in the past “I did not have any program to follow, I would have liked to have one (prior to surgery)” (FG). Another survivor wrote that the exercise component “made me realize there were some physical motions that I thought I could not do BUT, I could” (WS1). The juxtaposition of individualized programs while exercising as a group was also viewed favorably, with one survivor stating “group exercise is much more enjoyable than alone” (WS2). Constructive feedback included a desire for more “…education on training” (FG), “more time to explore the other machines” (WS4), and “…more variety in terms of the workout” (FG). Researchers noted observing progression from week to week in participants’ comfort with the exercises and noted improvements in technique; however, participants wrote during the last session that “the exercises have become a little repetitive, but they were useful and challenging” (WS5). Research field notes indicated that participants were quiet and focused during the strength and conditioning component. Space within the gym was a noted issue by researchers (field notes) and participants, “did not like the lack of space and equipment but we were able to manage” (WS3). Some sessions felt rushed, with one survivor requesting “more time to complete all the workout” (WS3). Although none of the participants who participated in the focus group felt that the exercise intervention was too hard, one survivor thought “...the intensity might scare people away” (FG), adding that “even though it was a ton of fun, (we) might want to scale it down a little bit” (FG). Feedback via the survey highlighted this concern, with one survivor reporting, “heavy weight and less rest time was really challenging” (WS4) and another survivor articulated, “I didn’t like how out of shape I am” (WS4) in reference to his reflection on the intensity of the sessions. “I liked every aspect of it. Felt amazing to just play a team sport again, especially with fellow survivors” (WS2).Although satisfaction with the sport component matched satisfaction with the exercise component, qualitative data emphasized participants’ preference for playing sport above all else. The sport component  was viewed as being most engaging and fun, as well as the main draw for participation. As one survivor stated, “it is just fun to like play sports. Like be a little competitive and run around” (FG). Sports aided in “...building rapport with each other” (FG) and when asked about the inclusion of varsity athletes, participants reported that their presence enhanced the overall experience. One survivor stated, “I thought University students would be weird or take it as a joke. They just wanted to play. That is what I liked about it” (FG) and another wrote that it was “great to have the varsity team push us and lighten the mood. Encouragement helped” (WS2). In addition, participants touched on liking being “pushed to work hard and not treated differently just because we went through cancer” (WS2). Although basketball was well received, with participants writing that it was “interactive & engaging” (WS2), a concern that other participants may “...not join the program... like oh I do not play basketball” (FG) was raised. Focusing exclusively on basketball was discussed as a potential barrier to participation and one survivor suggested, “a way around that may be if you mixed up the sports a little bit” (FG), by suggesting that a multi-sport program may “...attract a broader group of people” (FG). Multiple participants suggested incorporating “different sports and activities” (WS1) and that soccer specifically “might be a more universal sport” (WS2) to focus on. Participants also suggested that there be an “alumni group” (FG) that could act as peer mentors to new participants, as well as transition the group into a community sports league as “… a testicular cancer survivorship sport team… that connects the guys so it is more grass roots” (FG). Overall, researcher field notes commented on the high energy and fun atmosphere during the sport component. Observations documented in researchers’ field notes mentioned varsity players providing tailored instruction to participants, remarking on individual improvements from week to week, and engaging with participants in high fives and positive verbal support that was encouraging to each other. Views on the workbook component of the intervention were mixed. Researchers’ field notes indicated that participants often reported having not completed the assigned chapter due to a lack of time or motivation to do so. One survivor articulated, “I would really enjoy making more time at the end of the session for the psychoeducation modules” (WS2). Participants touched on time since diagnosis and treatment as a factor related to the relevance of the workbook. One survivor stated, “being 3-years post-treatment I don’t identify as easily with a lot of the content” (WS5) while others stated that the content was “reflective of my situation” (WS3), “I liked that it really represents what I experienced” (WS3). Participants indicated that they would have liked to receive this workbook at the beginning of their cancer journey as the workbook was “good at identifying some strategies to manage emotions” (WS5). However, one survivor “found it a bit difficult to figure out how to use some of the resources at the back of the book” (WS5). This is suggestive of a need for more facilitation from the psychotherapist and was reflected in the field notes. Specific to the delivery format, participants unanimously agreed that a hard copy was better than an electronic copy and that the current 5.5 × 8.5 inch size of the workbook was ideal. Participants identified missing content and made suggestions for future iterations of the workbook. The content was perceived as being surgery- and chemotherapy-focused, and was therefore missing information specific to radiation therapy. Another survivor indicated that he was looking for “…some input on the effects of the steroids on mood” (WS3) and another stated “having an understanding of the long term, what things I should be looking for would be super helpful” (FG). Another survivor added, “...anything in the book that can highlight stuff that you are like oh I never even thought about that” (FG) would be helpful throughout survivorship. A thorough discussion was had around the inclusion of “...basic testicular cancer statistics” (FG), but participants disagreed, with one stating “statistics are not always going to apply to you” (FG), and adding that they may be anxiety provoking for some men. Information seeking specific to survivorship needs varied among participants, with some men reporting a desire for more information and others not wanting to engage with the available information. As one survivor underlined, “I am not really seeking (information) unless something becomes a problem” (FG). This finding speaks to the tailored and individual support needs of these men.Self-rated physical and mental health scores at pre-and post-intervention are presented in The current study explored the feasibility and acceptability of a sport-based supportive care intervention for testicular cancer survivors, as well as individual level changes in the perceived health of participants. Recommendations for intervention refinement and optimization were also gained from the ten testicular cancer survivors who participated in the five-week pilot intervention. Findings from this study provide support for the feasibility and acceptability of a group, sport- and exercise-based supportive care model that engages young men after diagnosis, and also provides insights into the potential benefit of this model on survivors’ perceived health. Research procedures  and intervention components  were generally feasible. Challenges associated with recruiting young adult cancer survivors  and younAcceptability of an intervention and its individual components has implications for successful implementation and overall effectiveness. If an intervention is considered by the target population to be acceptable, they are more likely to adhere to the intended design and are thus more likely to receive the anticipated benefit . The accEffective attitudes towards the intervention overall and the individual components were generally positive, with survivors reporting that a sport-based intervention supported their physical and mental health, while providing an opportunity to meet other survivors. This is consistent with the notion that men connect by doing, supporting the benefit of engaging men in activities built into the intervention . In newlThe Ball’s in Your Court intervention appeared to fit well with survivors’ existing value systems, speaking to the dimension of ethicality [hicality . The exehicality ,59; and hicality . The valhicality ,61,62. Thicality ,64. The hicality ,18. FinaFeedback on delivery characteristics highlighted the potential burdens or barriers associated with participation in this intervention that may impact on feasibility and acceptability. Survivors identified the intervention’s start time as a barrier to participation and also touched on the need to balance priorities and work schedules, yet their motivation for initial and continued participation appeared to outweigh these burdens. These findings are consistent with those reported among breast cancer survivors who participated in a group-based physical activity intervention within the community . SpecifiThe Ball’s in Your Court intervention perceived the intervention to be effective at addressing supportive care needs related to physical and psychosocial health and wellness. This is consistent with previous findings whereby men reported high levels of perceived effectiveness of intervention components aimed at supporting health and wellness [The survivors who participated in wellness ,66. In twellness . Consistwellness ,18,66, mwellness . OverallExamination of individual level changes in perceived physical and mental health showed stability for the majority of survivors from pre- to post-intervention, whereas three participants showed an improvement. Numerous studies have provided evidence for the effectiveness of physical activity on improving physical and mental health and quality of life of cancer survivors ,67,68; hThe paucity of improvement in perceived physical health may be due, in part, to the length of the intervention. In order to see objective and perceived changes in physical fitness, a longer intervention should be tested . IncorpoIn recognizing the acceptability of tailored supportive care for testicular cancer survivors, a number of recommendations should be considered for future refinement and optimization. Firstly, to overcome the challenges related to attendance and therefore increase feasibility, interventions should be offered later in the evening; this recommendation is consistent with the physical activity intervention preferences reported among the cancer survivors . Given tThe current findings also highlight a need for additional opportunities for testicular cancer survivors to participate in the giving and receiving of social support. Sport is an environment where engaging in social support is socially acceptable ,81; howeThis study has several strengths. The intervention was evidence-based and was designed and developed in collaboration with testicular cancer survivors and community stakeholders ,59 throuWhile this study is the first to explore the feasibility, acceptability, and potential effectiveness of a sport-based supportive care intervention model for an understudied sample of cancer survivors , there are some limitations. The small sample of testicular cancer survivors were recruited using convenience sampling; therefore, self-selection bias naturally limits generalizability to the broader population of testicular cancer survivors. This is a common limitation of any single-subject design , and thuFurthermore, multiple stakeholders were not integrated into the acceptability evaluation of the intervention, and the fidelity of the intervention was not examined. The short duration of the intervention  may also have limited the potential for the intervention to have an effect on perceived health. A longer intervention design with additional data points and measures would be ideal for the evaluation of a future iteration of this intervention. Finally, the intervention setting was an urban center with extensive equipment and facilities. Future development, implementation, and process evaluation work should explore the feasibility, acceptability, and effectiveness of this model in different settings  to understand potential intervention reach in supporting the needs of testicular cancer survivors across Canada. The Ball’s in Your Court intervention. Given that testicular cancer survivors are traditionally less likely to engage with supportive care services or rely on healthcare providers [The Ball’s in Your Court intervention suggests that connecting survivors outside of the hospital in tailored, gender-sensitized programming will be feasible and well-received by testicular cancer survivors. These findings, along with previous research, highlight the role of sport as a feasible and acceptable starting point for future refinement and delivery of supportive care aimed at supporting long-term survivorship outcomes in men living with and beyond testicular cancer.Taken together, results from this study provide initial support for the feasibility and acceptability of roviders , the suc


This special issue is about “non-standard issues in business finance”. Apparently, in order to decide which papers are eligible for this special issue it is necessary to define some kind of “standard” in business finance as a benchmark, so that any deviation from this standard qualifies for this issue. Alas, when singling out some “standard”, this certainly is not independent of time and place. Taking payments as a simple example from another area, cash payments have lost market share over the last decade but are still dominating in Germany  equity (i.e. issuing shares) and debt (i.e. issuing bonds or borrowing from a bank) traditionally being regarded as standard while all other kinds of financial instruments, in particular the international finance, implicitly stating standard issues to have always a more or less domestic orientation. For example, German scholars would typically subscribe to a secular view of business financing as being standard, implying that religious aspects as incorporated in studies on Islamic finance are “non-standard”. A third categorization would rely on the objective function underlying financial decision-making in firms. Simple shareholder value maximization may then be regarded as standard and a broader stakeholder orientation, e.g., in order to account for sustainability goals, refers once again to a non-standard case, thus defining the field of sustainable finance. In addition, as another example of the temporal dimension with standard issues describing on the one hand business financing in the recent past or the present in contrast to current developments reaching out for the future, we may refer to what is coined digital finance. For some it is still non-standard today, but may become a standard component of business financing in the not too distant future. In contrast to other categories, digital finance exhibits two distinct dimensions. On the one hand, this term refers to the increasing relevance of digitalization in financial decision making, e.g., when applying methods of artificial intelligence for credit scoring. On the other hand, utilizing such methods for empirical analyses of finance related issues by scholars is also referred to as “digital finance”. As still another classification, one may distinguish between “normal times”, whatever that may mean, and “times of crises” leading to non-standard “corporate finance in times of crises”, e.g. in the aftermath of the financial crisis 2008/09 or the COVID-19 pandemic. Certainly, there are even more ways in which to differentiate between standard and non-standard issues in business finance.Alternatively, cultural differences, frequently related to geographical origins, may provide benchmarks. As a rather rough classification one may simply single out the field of As already pointed out, the understanding of “standard issues” may vary over time. In order to get a feeling for recent developments in the field of finance, we present in the following Sect. According to our introduction, we look at annual meetings of the European Finance Conference from 2009 to 2021. In a first step, we select all papers that are subsumed under headings related to “Corporate Finance”. In most years, this refers to the two main categories “Corporate Finance, Theoretical” and “Corporate Finance, Empirical” . However, in the years 2014 and 2015 the organizers of the annual meetings refrained from defining encompassing larger categories. Instead, here we are left only with the headings for all of the about 70 sessions per meeting. We thus had to decide manually whether a session like “Distress and Renegotiation” or “Ethics Meets Finance” should be labelled “related to corporate finance” or not. Certainly, in many cases like “Behavioral Corporate Finance” or “Financial Policy: Theory” this was not too difficult a task. Nevertheless, when in doubt, we decided to take the respective papers into account. As Table For all these 732 papers from the years 2009 to 2021, we tried to retrieve the whole manuscripts. Also according to Table For each paper we examined how often words from the respective word list are used. Based on these word counts we determine four main figures: First of all, we compute the share of all corporate finance papers that refer to a specific category in a specific year. In addition, we also identify the fraction of those papers with at least ten occurrences of words from a specific word list . Third, the average number of words referring to a certain list based on all papers with a respective reference is determined. Fourth, the corresponding median value is depicted. All findings are summarized in Fig. classical corporate finance issues. Apparently, our manual and thus somewhat arbitrary selection of corporate finance papers for the years 2014 to 2016 does not seem to be too inadequate, as according to Category #1 of Fig. On average, about 25% of all presentations of a typical annual meeting are devoted to corporate finance issues. In what follows, we call these the “corporate finance papers”. And of these corporate finance papers, as expected, a considerable share exhibits words related to One of the most striking results is the increase in relative importance of papers in the domain of digital finance  crises. The message to investors is that they should be careful when planning to invest into firms with large equity intent according to the text of their 10-K files, because this intention will expose them to above average risk for a stock price crash. The same message is known from the pecking-order theory: as investors should generally be quite skeptical about the prospects of firms issuing equity, Myers and Majluf  recommenThe authors then continue by showing that hoarding of bad news is the mechanism that pulls investors towards supplying firms with equity that are exposed to higher crash risks. Two ways of bad news hoarding are investigated in more detail. One is earnings manipulation, the other textual obfuscation. Essentially, the classical agency problem of bad news hoarding is investigated with more sophisticated textual analyses showing that the intention to raise equity can be recovered from 10-K files. In particular, bad news hoarding through textual obfuscation seems to be important yet under-researched. While the content of the paper is deeply rooted in Category #1, classical corporate finance, at the same time, from a methodological point of view, this paper is also a representative of Category #8, digital finance, an area that appears to gain quickly in importance as outlined in the previous section.Whether firms succeed in raising the desired equity amount depends on firm data. But data on the real economy and on the financial sector certainly matter, too, and so may the political situation or a general sentiment. The COVID-19 pandemic is a particular case. The real economy was hit first of all, the financial sector was infected with a delay. Of course, some industries are being hit more than others, and some even may benefit from the crisis. At any rate, the typical outcome is a worse economic situation than before and a negative sentiment of investors. In their paper “Tough times for Seasoned Equity Offerings: Performance during the COVID pandemic,” Mark Zenzius, Christian Flore, and Dirk Schiereck look, based on US data, at the wealth effect of SEO announcements , there is rather a small effect, if any, during the financial crisis, but a large increase in 2020. It is well established, theoretically and empirically, that seasoned equity offerings are usually a negative signal and lead to negative price reactions .In an event study, the authors find a highly significant negative price impact on the day of the announcement. In line with this result, the cumulative abnormal average returns for different event windows are also significantly negative. Comparing the numbers with those reported in a meta analysis of SEO announcement studies, the numbers during the COVID-19 pandemic are clearly larger. This is empirical support for the hypothesis that the negative effects of SEO announcements are larger during a crisis. A cross-sectional analysis of drivers of this effect reveals that among the number of variables more or less only the size of the firm, measured as market capitalization, has a statistically significant effect. Larger firms experience less negative effects when announcing an SEO. Smaller negative effects are also seen for firms from the presumably COVID-19 related biotech and healthcare industries, which seems plausible. However, if these firms have lower price-to-book values, then the announcement effect is more negative. It seems that the market does not believe that investments financed by new equity will turn such firms into winners.Stock prices react to capital measures and to changes in the general economic situation, as in the paper just described, but they may also react when governments introduce fiscal, monetary, or any other measures to counteract the effects of a crisis. Banks as financial intermediaries are hit in a pandemic only later when they begin to feel the damage firms are exposed to. However, banks come in different types and with different business models, and the obvious question is whether different types of banks are affected differently by governmental actions. When comparing different types of banks, it is important that they are as similar as possible with respect to all features except the one which is to be compared. In particular, it is desirable that these banks are active in the same country.In a similar way as the irrelevance theorem for firms’ financing decisions, the theory of financial intermediation tells us that there is no rationale for banks and other kinds of financial intermediaries when capital markets are perfect Diamond . HoweverThe authors present several findings. First, there is a strong co-movement of incomes of Islamic banks and conventional banks during the COVID-19 pandemic. The finance/interest income of Islamic banks and the interest income of conventional banks both decrease, whereas the non-finance, respectively non-interest, incomes increase in some quarters. The latter also holds for net income. There are hardly any differences between Islamic banks and comparable conventional banks in the matched sample. Income support schemes, which facilitate it for debtors to fulfill their financial obligations, may theoretically improve banks’ income. Yet the empirical analysis shows that they have almost no effect on conventional banks’ net income, but they are favorable for Islamic banks’ net income. For debt relief programs, there is no clear picture, possibly because they are highly correlated with workplace closure recommendations. A search for possible reasons reveals that profit and loss sharing contracts in Islamic banks do not seem to be an important factor as they account for only a relatively small share of income. Turning from income changes to stock-price responses, the more beneficial effect for Islamic banks prevails. It is difficult to provide definite reasons for these observations. It seems quite likely, however, that the stronger focus of Islamic banks on private customers is a major factor because these clients are more likely to repay the debt when income support programs are introduced.All of the studies presented so far have one feature in common. Firms obtain liquidity either from financial intermediaries, e.g. specialized funds in the case of venture loans, or from investors directly as, for example, in the case of SEOs. The final paper “The ‘C’ in crowdfunding is for co-financing—Exploring participative co-financing, a complement of novel and traditional bank financing,” by Carolin Bock, Sven Philipp Siebeneicher, and Jens Rockel deviates from this setting  competitors like fintechs, insurtechs, or bigtechs, to name but a few, or in the form of adapted services, e.g., digital currencies, cryptoassets, smart contracts, and many more. Moreover, the methods used for analyzing business finance and other financial topics will be enriched by digital tools, for instance textual analysis as in Reichmann, Möller, and Hertel (2022).The continued rise of research qualifiable as The future development of Islamic finance, Category #6, is much more difficult to predict. On the one hand, according to several internet sources close to 2 billion people (roughly one fourth of the world’s population) adhere to the Islam, making it a highly relevant object for financial research. On the other hand, as some principles and products of Islamic finance require deep institutional knowledge to appreciate their distinctiveness and as they diverge from basic assumptions prevailing in leading journals, successful publication of studies may be more at risk than with mainstream approaches. Unfortunately, this may deter researchers from diving into this field.What will happen with Category #4, international finance, is another open question. One may argue that its importance will increase due to much more interconnected economies, even if presently some tendencies towards partial autarky are being observed. However, this might imply that eventually finance and international finance become synonyms and the category becomes void. Alas, it is also conceivable that local institutional specifics of financial and non-financial sectors will survive, and much room for international corporate finance papers will remain.Finally, we would welcome a lack of need for studies on corporate finance in times of crises, Category #5. Regrettably, given the present political situation we are less optimistic than ever that this wish will come true.