Subjects -> PUBLIC ADMINISTRATION (Total: 284 journals)
    - MUNICIPAL GOVERNMENT (9 journals)
    - PUBLIC ADMINISTRATION (248 journals)
    - SECURITY (27 journals)

PUBLIC ADMINISTRATION (248 journals)                  1 2 | Last

Showing 1 - 200 of 357 Journals sorted alphabetically
Academy of Management Annals     Full-text available via subscription   (Followers: 81)
Accounting and the Public Interest     Full-text available via subscription   (Followers: 2)
Acta Negócios     Open Access  
Acta Universitatis Danubius. Administratio     Open Access  
Administory. Zeitschrift für Verwaltungsgeschichte     Open Access   (Followers: 1)
Administração Pública e Gestão Social     Open Access  
Administración Pública y Sociedad     Open Access  
Administration     Open Access   (Followers: 16)
Administrative Sciences     Open Access   (Followers: 5)
Administrative Theory & Praxis     Full-text available via subscription   (Followers: 8)
African Journal of Governance and Development     Open Access   (Followers: 5)
Africa’s Public Service Delivery and Performance Review     Open Access   (Followers: 5)
AL-Qadisiyah Journal For Administrative and Economic sciences     Open Access   (Followers: 2)
American Review of Public Administration     Hybrid Journal   (Followers: 23)
AQ - Australian Quarterly     Full-text available via subscription  
Arbetsliv i omvandling     Open Access  
Asia Pacific Journal of Public Administration     Hybrid Journal   (Followers: 6)
Australian Social Work     Hybrid Journal   (Followers: 10)
BAR. Brazilian Administration Review     Open Access   (Followers: 1)
Cadernos Gestão Pública e Cidadania     Open Access  
Canadian Public Administration/Administration Publique Du Canada     Hybrid Journal   (Followers: 9)
Cities     Hybrid Journal   (Followers: 24)
Citizenship Studies     Hybrid Journal   (Followers: 11)
Clinical Social Work Journal     Hybrid Journal   (Followers: 26)
Commonwealth Journal of Local Governance     Open Access   (Followers: 4)
Congress & the Presidency: A Journal of Capital Studies     Hybrid Journal   (Followers: 3)
Corrections : Policy, Practice and Research     Hybrid Journal   (Followers: 2)
Critical Policy Studies     Hybrid Journal   (Followers: 14)
Cuadernos de Administración     Open Access  
Cuadernos de Relaciones Laborales     Open Access   (Followers: 1)
Cuadernos Latinoamericanos de Administración     Open Access  
Dhammathas Academic Journal     Open Access  
DiA : Public Administration Journal     Open Access   (Followers: 1)
Digital Government : Research and Practice     Open Access   (Followers: 1)
Documentos y Aportes en Administración Pública y Gestión Estatal     Open Access  
ECA Sinergia : Revista Especializada en Economía, Contabilidad y Administración     Open Access  
Economic and Regional Studies / Studia Ekonomiczne i Regionalne     Open Access  
eJournal of eDemocracy and Open Government     Open Access   (Followers: 10)
eJournal of Public Affairs     Open Access  
Electronic Government, an International Journal     Hybrid Journal   (Followers: 13)
Electronic Journal of e-Government     Full-text available via subscription   (Followers: 4)
ESPAÇO PÚBLICO : Revista do Mestrado Profissional em Políticas Públicas da UFPE     Open Access  
Estado, Gobierno y Gestión Pública     Open Access  
Estudios de Administración     Open Access  
Éthique publique     Open Access   (Followers: 1)
Études rurales     Open Access   (Followers: 2)
EURE (Santiago) - Revista Latinoamericana de Estudios Urbano Regionales     Open Access  
European Journal of Government and Economics     Open Access   (Followers: 5)
European Journal of Social Work     Hybrid Journal   (Followers: 32)
European Policy Analysis     Hybrid Journal   (Followers: 2)
Evaluation     Hybrid Journal   (Followers: 19)
Federal Governance     Open Access   (Followers: 1)
FEU Academic Review     Open Access  
FOR Rivista per la formazione     Full-text available via subscription  
Frontiers in Public Health Services and Systems Research     Open Access   (Followers: 6)
Future Studies Research Journal : Trends and Strategies     Open Access  
Gaceta Sanitaria     Open Access   (Followers: 2)
Georgia Journal of Public Policy     Open Access   (Followers: 2)
Gestão Pública : Práticas e Desafios     Open Access   (Followers: 1)
Gestión y Política Pública     Open Access   (Followers: 1)
Gesundheitsökonomie & Qualitätsmanagement     Hybrid Journal   (Followers: 8)
Global Public Policy and Governance     Hybrid Journal   (Followers: 4)
Governance : An International Journal of Policy, Administration and Institutions     Hybrid Journal   (Followers: 51)
Governance Journal     Open Access   (Followers: 3)
Government and Opposition     Full-text available via subscription   (Followers: 26)
Government Information Quarterly     Hybrid Journal   (Followers: 28)
Growth and Change     Hybrid Journal   (Followers: 6)
Human Resource Development Quarterly     Hybrid Journal   (Followers: 29)
Human Service Organizations Management, Leadership and Governance     Hybrid Journal   (Followers: 23)
Icelandic Review of Politics and Administration     Open Access  
Ids Working Papers     Hybrid Journal  
In Vestigium Ire     Open Access   (Followers: 1)
Indian Journal of Public Administration     Hybrid Journal  
International Affairs and Global Strategy     Open Access   (Followers: 6)
International Journal of Community Well-Being     Hybrid Journal  
International Journal of Electronic Government Research     Full-text available via subscription   (Followers: 3)
International Journal of Environmental Policy and Decision Making     Hybrid Journal   (Followers: 3)
International Journal of Information Systems for Crisis Response and Management     Full-text available via subscription   (Followers: 3)
International Journal of Organization Theory and Behavior     Hybrid Journal   (Followers: 1)
International Journal of Public Administration     Hybrid Journal   (Followers: 27)
International Journal of Public Leadership     Hybrid Journal   (Followers: 49)
International Journal of Public Sector Performance Management     Hybrid Journal   (Followers: 10)
International Review of Public Administration     Hybrid Journal   (Followers: 13)
International Review of Public Policy     Open Access  
International Tax and Public Finance     Hybrid Journal   (Followers: 11)
Investigación Administrativa     Open Access  
JKAP (Jurnal Kebijakan dan Administrasi Publik)     Open Access  
Journal of Administrative and Management     Open Access  
Journal of APF Command and Staff College     Open Access  
Journal of Asian Public Policy     Hybrid Journal   (Followers: 1)
Journal of Chinese Governance     Hybrid Journal   (Followers: 2)
Journal of Community Practice     Hybrid Journal   (Followers: 11)
Journal of Comparative Policy Analysis : Research and Practice     Hybrid Journal   (Followers: 12)
Journal of Developing Areas     Full-text available via subscription   (Followers: 5)
Journal of Development and Administrative Studies     Open Access   (Followers: 1)
Journal of Economic and Administrative Sciences     Hybrid Journal   (Followers: 2)
Journal of Economics, Finance and Administrative Science     Open Access  
Journal of Entrepreneurship and Public Policy     Hybrid Journal   (Followers: 7)
Journal of European Public Policy     Hybrid Journal   (Followers: 64)
Journal of Governance and Public Policy     Open Access   (Followers: 4)
Journal of Government and Economics     Open Access  
Journal of Higher Education Outreach and Engagement     Open Access   (Followers: 11)
Journal of Management & Organization     Full-text available via subscription   (Followers: 243)
Journal of Management and Development Studies     Open Access   (Followers: 1)
Journal of Nursing Management     Hybrid Journal   (Followers: 23)
Journal of Organisational Transformation & Social Change     Hybrid Journal   (Followers: 5)
Journal of Park and Recreation Administration     Full-text available via subscription   (Followers: 2)
Journal of Policy Practice and Research     Hybrid Journal  
Journal of Public Administration and Governance     Open Access   (Followers: 22)
Journal of Public Administration and Policy Research     Open Access   (Followers: 14)
Journal of Public Administration Research and Theory     Hybrid Journal   (Followers: 41)
Journal of Public Affairs Education     Hybrid Journal   (Followers: 1)
Journal of Public Budgeting, Accounting & Financial Management     Hybrid Journal   (Followers: 3)
Journal of Public Finance and Public Choice     Hybrid Journal  
Journal of Public Procurement     Hybrid Journal  
Journal of Science and Sustainable Development     Full-text available via subscription  
Journal of Social and Administrative Sciences     Open Access  
Journal of Social Studies     Open Access  
Journal of Social Work Education     Hybrid Journal   (Followers: 11)
Jurnal Ad'ministrare     Open Access  
Jurnal Administrasi Publik : Public Administration Journal     Open Access  
Jurnal Bina Praja : Journal of Home Affairs Governance     Open Access  
Jurnal Ilmiah Administrasi Publik     Open Access  
Jurnal Ilmiah Ilmu Administrasi Publik     Open Access  
Jurnal Kajian Pemerintah : Journal of Government, Social and Politics     Open Access  
Jurnal Niara     Open Access  
Jurnal Office     Open Access  
Just Policy: A Journal of Australian Social Policy     Full-text available via subscription   (Followers: 6)
Kwartalnik Prawa Podatkowego / Tax Law Quarterly     Open Access  
Law and Administration in Post-Soviet Europe     Open Access  
Law, Democracy & Development     Open Access   (Followers: 5)
Law, Innovation and Technology     Hybrid Journal   (Followers: 15)
Liinc em Revista     Open Access  
Local Government Studies     Hybrid Journal   (Followers: 13)
Middle East Law and Governance     Hybrid Journal   (Followers: 8)
Molung Educational Frontier     Open Access  
National Civic Review     Hybrid Journal   (Followers: 1)
NISPAcee Journal of Public Administration and Policy     Open Access   (Followers: 4)
Nordic Tax Journal     Open Access   (Followers: 3)
Organizações & Sociedade     Open Access  
Orientación y Sociedad : Revista Internacional e Interdisciplinaria de Orientación Vocacional Ocupacional     Open Access  
Parliaments, Estates and Representation     Hybrid Journal   (Followers: 5)
Perspectivas em Políticas Públicas     Open Access  
Perspectives on Public Management and Governance     Full-text available via subscription   (Followers: 2)
PINISI Discretion Review     Open Access  
Pittsburgh Tax Review     Open Access   (Followers: 3)
Police Journal : Theory, Practice and Principles     Hybrid Journal   (Followers: 318)
Policy & Internet     Hybrid Journal   (Followers: 10)
Policy & Governance Review     Open Access   (Followers: 4)
Policy Sciences     Hybrid Journal   (Followers: 13)
Policy Studies     Hybrid Journal   (Followers: 14)
Policy Studies Journal     Hybrid Journal   (Followers: 10)
Política, Globalidad y Ciudadanía     Open Access  
Políticas Públicas     Open Access  
Politics and Governance     Open Access   (Followers: 9)
Poverty & Public Policy     Hybrid Journal   (Followers: 17)
Prashasan: Nepalese Journal of Public Administration     Open Access   (Followers: 2)
Prawo Budżetowe Państwa i Samorządu     Open Access  
Prison Journal     Hybrid Journal   (Followers: 29)
Public Administration     Hybrid Journal   (Followers: 38)
Public Administration and Development     Hybrid Journal   (Followers: 17)
Public Administration Research     Open Access   (Followers: 1)
Public Administration Review     Hybrid Journal   (Followers: 49)
Public Choice     Hybrid Journal   (Followers: 25)
Public Governance Research     Open Access   (Followers: 3)
Public Inspiration     Open Access  
Public Organization Review     Hybrid Journal   (Followers: 5)
Public Personnel Management     Hybrid Journal   (Followers: 13)
Public Policy     Full-text available via subscription   (Followers: 16)
Public Policy and Administration     Hybrid Journal   (Followers: 22)
Public Policy And Administration     Open Access   (Followers: 23)
Public Policy and Administration Research     Open Access   (Followers: 19)
Public Sector     Full-text available via subscription   (Followers: 7)
Public Works Management & Policy     Hybrid Journal   (Followers: 7)
Publik (Jurnal Ilmu Administrasi)     Open Access  
PUBLIKA : Jurnal Ilmu Administrasi Publik     Open Access  
Publius: The Journal of Federalism     Hybrid Journal   (Followers: 7)
Pyramides     Open Access  
RACE - Revista de Administração, Contabilidade e Economia     Open Access  
REAd : Revista eletrônica de administração     Open Access  
Regional Science Policy & Practice     Hybrid Journal   (Followers: 2)
Research on Economic Inequality     Hybrid Journal   (Followers: 9)
rESPaldo : Revista Internacional en Administración de Oficinas y Educación Comercial     Open Access  
Retos de la Dirección     Open Access  
Revista Brasileira de Administração Científica     Open Access  
Revista de Administração     Open Access  
Revista de Administração Geral     Open Access  
Revista de Administração IMED     Open Access   (Followers: 1)
Revista de Administración Pública     Open Access  
Revista de Direito da Administração Pública     Open Access  
Revista de Direito Sociais e Políticas Públicas     Open Access  
Revista Desenvolvimento Social     Open Access   (Followers: 1)
Revista Digital de Derecho Administrativo     Open Access  
Revista dos Estudantes de Públicas : REP     Open Access  
Revista Eurolatinoamericana de Derecho Administrativo     Open Access  
Revista Foco     Open Access  
Revista Iberoamericana de Estudios Municipales     Open Access  
Revista Mexicana de Análisis Político y Administración Pública     Open Access  
Revista Panamericana de Salud Pública     Open Access  
Revista Política y Estrategia     Open Access  

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Journal of Economic and Administrative Sciences
Number of Followers: 2  
 
  Hybrid Journal Hybrid journal (It can contain Open Access articles)
ISSN (Print) 1026-4116 - ISSN (Online) 2054-6246
Published by Emerald Homepage  [360 journals]
  • Relationship of brand credibility and brand loyalty: the mediating effects
           of attitude toward brand

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      Authors: M. Ikram Ul Haq , Abdul Khaliq Alvi , Muhammad Akram Somroo , Nadeem Akhtar , Ashfaque Ahmed
      Abstract: Current research addresses the issue of brand loyalty while identifying its potential predictors. The research also examines the direct impact of brand credibility on brand loyalty and attitude toward brand and the direct impact of attitude toward brand and on brand loyalty respectively. Moreover, this research examines the mediating effect of attitude toward brand for the relationship of brand credibility and brand loyalty. This is a cross-sectional research. Data is collected with the help of structured questionnaire. Simple random sampling technique is used for gathering the data from 220 Samsung users from Lahore, Pakistan. Results indicate that brand credibility has a positive influence on attitude toward brand and brand loyalty respectively. Attitude toward brand partially intervenes the relation of brand credibility and brand loyalty. There are some limitations of the current research. It includes only the customers of Samsung mobile. Data is collected from the customers of Lahore, Pakistan, only. This research can also be conducted among the customers of OPPO, Vivo and Apple and compare the results of current research with the results of OPPO, Vivo and Apple, which will provide the useful insights. This kind of research will also be conducted among the customers of other kinds of products like FMCGs, luxury items and even on the organizations of industrial products for generalizability. In future, customers of other cities of Pakistan like Karachi, Multan and Faisalabad may also be included for generalization. This research provides a practical framework for the marketing department of Samsung mobiles and explains how brand credibility shape the brand loyalty through the path of attitude toward Samsung mobiles. So, Samsung mobiles can maintain current policies regarding brand credibility and attitude toward brand for attaining the better level of brand loyalty. Longitudinal research studies on these variables will also be helpful for the marketing department of Samsung for checking the level of propose relationships periodically and comparing it with previous results which will provide the true picture about propose relationships. If the value of propose relationships increases or remains at same level, then Samsung can maintain the current policies about these variables and if the value of these variables decreases, the Samsung will improve the current policies about these variables. This research contributed in theory of reasoned action by proposing the brand credibility, attitude toward brand and brand loyalty in single model. Before this, these relations were explained separately. This research adds to the body of literature by checking the mediating effect of attitude toward brand for the relationship of brand credibility and brand loyalty.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-05-17
      DOI: 10.1108/JEAS-08-2021-0142
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Economic resilience to the FDI shock during the COVID-19 pandemic:
           evidence from Asia

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      Authors: Youssra Ben Romdhane , Souhaila Kammoun , Imen Werghi
      Abstract: The purpose of this paper is to study the impact of economic factors on foreign direct investment (FDI) inflows into Asian region before and after the COVID-19 pandemic. The study used the generalized method of moments (GMM) technique to examine the impact of economic growth, domestic investment and trade openness on FDI in the Asian region, in two periods from 1996 to 2018 and from 2019 to 2020. In the pre-COVID-19 period, the estimated result shows that the economic growth, domestic investment, imports and exports positively impact FDI. In the post-COVID-19 period, the FDI is influenced by the strength of the economic characteristics of the region. The main findings indicate that economic growth has a positive and significant effect on FDI inflows into Asia. The findings also show that the economic resilience to attract FDI in Asia is significantly affected by economic growth and positively affected by trade openness and government responses during the pandemic. The study suggests the Asian governments increasing the domestic investment and improving the quality of trade openness.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-05-17
      DOI: 10.1108/JEAS-12-2021-0250
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Governance quality and momentum returns: international evidence

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      Authors: Zulfiqar Ali Imran , Woei Chyuan Wong , Rusmawati Binti Ismail
      Abstract: Momentum returns are considered an anomaly in the finance literature as their existence cannot be fully explained under the asset pricing paradigm. This study attempts to shed more light on this anomaly by investigating the determinants of momentum returns. The panel data technique is applied to the sample of 40 countries worldwide from 1996 to 2018. The authors use the panel-corrected standard error (PCSE) model to estimate the coefficient of World Governance Indicators (WGI), whereas the fixed effect model is used to determine the coefficient for corporate governance indicators (CGIs). The choice of PCSE estimation methods is guided by the fact that WGI variables are subjected to serial correlation, heteroskedasticity and cross-sectional dependence problems while CGI variables are not. Furthermore, a composite WGI index is constructed using principal component analysis (PCA). Regression analysis shows a negative and significant relationship between WGI index and momentum returns. The negative coefficient value of WGI supports the prediction of the overreaction hypothesis, which postulates a lower behavioral bias in the market with high governance quality. Breaking down of the WGI by their six indicators reveals that four of the indicators (control over corruption, government effectiveness, stability and avoidance of violence) are negative statistically significant with momentum returns while two indicators are not significant. As for CGIs, only one (strength of investor protection) of the four tested indicators is negative and significantly related to momentum returns. The study fills the gap in economic literature by highlighting the association between governance quality at the country (WGI) and firm level (CGI) on stock momentum returns.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-05-13
      DOI: 10.1108/JEAS-10-2021-0218
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Diversification benefits of Turkey-based investors: evidence from top
           trading partners based on a multivariate-GARCH approach

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      Authors: Nagihan Kılıç , Burhan Uluyol , Kabir Hassan
      Abstract: The aim of this study is to measure portfolio diversification benefits of the Turkey-based equity investors into top trading partner countries. Portfolio diversification benefits are analyzed from the viewpoint of two types of investors in Turkey: conventional equities investors and Islamic equity investors. In order to evaluate the time-varying correlations of the trading partner country's stock index returns with the Turkish stock index returns, the multivariate-generalized autoregressive conditional heteroskedasticity–dynamic conditional correlation (GARCH-DCC) is applied based on daily data covering 13 years' period between January 22, 2008 and January 22, 2021. The results revealed that the US stock indices provide the most diversified benefit for both conventional and Islamic Turkey-based equity investors. In general, Islamic indices exhibit relatively lower correlation with trading partners than conventional indices. Turkey and Russia are recorded as the most volatile indices. The diversification potential in trading partners for Turkey-based Islamic equity investors has not been studied yet. This study is to fill in this gap in the literature and to give fruitful insights to both conventional and Islamic investors.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-05-13
      DOI: 10.1108/JEAS-11-2021-0226
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Employer branding: design and development of a scale

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      Authors: T.S. Nanjundeswaraswamy , Sindu Bharath , P. Nagesh
      Abstract: This paper aims to design, develop and validate an instrument to measure employer branding by considering existing employee perceptions. In this systematic research, the predominant factors of employer branding are identified through Pareto analysis; using structured questionnaire information and data collected from 423 employees. The number of items and dimensions was reduced by conducting exploratory factor analysis (EFA) and validated extracted dimensions using confirmatory factor analysis (CFA) using statistical software (SPSS-21). The designed scale was verified by applying relevant statistical techniques, including a multicollinearity test, construct validity, content validity, divergent validity, convergent validity and reliability test. Structural equation modeling (SEM) was performed using AMOS, to explore the interrelationship between the dimensions of the scale. Considering the perception of existing employees, seven factors along with 24 items scale were designed and developed to measure the employer branding. The identified seven factors are; career development opportunities; compensation and benefits; corporate social responsibility; training and development; work environment; organizational culture; and work-life balance. The proposed model explains a total variance of 70.35% and the model fit indices are within the acceptable range, validity and statistical reliability are established for seven dimensions of employer branding. Employer branding is studied from existing employee perspective by collecting responses from the employees of the IT sector only. This validated scale is valuable for practitioners and academicians. The proposed dimensions in the scale may help practitioners explore the impact on the outcomes of organizations such as employee commitment, employee retention, employee satisfaction and total productivity. This novel instrument helps to measure employees' perception of their employers. Further, the authors identify the gaps and accordingly plan strategies to attract and retain the talented workforce. The authors believe that this novel measuring instrument is comprehensive and the first of its kind. Employer branding has been modeled using SEM analysis by considering the perceptions of the present employees.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-05-11
      DOI: 10.1108/JEAS-01-2022-0012
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • The impact of COVID-19 on conventional and Islamic stocks: empirical
           evidence from Pakistan

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      Authors: Niaz Ahmed Bhutto , Shabeer Khan , Uzair Abdullah Khan , Anjlee Matlani
      Abstract: The purpose of this study is to investigate the impact of COVID-19 on conventional and Islamic stocks by using the data spanning from February 25, 2020, to February 3, 2021, and employing a panel regression approach. In this study a panel regression approach has been used. The study finds a negative association between COVID-19 and stock (both Islamic and conventional). After splitting the data into 1st and 2nd waves, the relationship between COVID-19 and stock (both Islamic and conventional) remains the same (negative) in the case of the 1st wave. In contrast, in the case of the 2nd wave, the relationship turned out to be positive. During both waves of the pandemic, the magnitude of the effect is found to be higher for conventional stocks. Additionally, the study also analyzes the aggregate influence of COVID-19 on different sectors and finds that commercial banks, oil and gas exploration and marketing companies are the most influenced sectors. At the same time, automobiles and pharma are the least affected sectors. The study suggests that markets start gaining momentum to reach their prepandemic level after absorbing the initial shock (emergence of a pandemic). The study also provides thorough insights for market regulators and policymakers by implying the dynamic relations between markets (conventional and Islamic) and financial crisis, which would allow them more effective control of crisis in future endeavors. This is one of the first studies to investigate the impact of COVID-19 on both conventional and Islamic stocks, especially in the context of Pakistan.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-05-06
      DOI: 10.1108/JEAS-09-2021-0180
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Where does internal governance mechanism matter in emerging markets'
           Insight from financial and non-financial firms

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      Authors: Ebenezer Agyemang Badu , Ebenezer Nyarko Assabil
      Abstract: The purpose of this paper is to explore the relationship between board attributes and firm value to identify board attributes that are “pleasant” to have from what is required to have in financial and non-financial firms. The paper uses five measures of firm value to estimate the relationship between internal governance mechanism for financial and non-financial firms using system generalized methods of moments. The paper finds that board independence and board size is a “must” have and value-enhancing board attributes for financial firms. On the contrary, board independence may be considered as a “pleasant” board attribute for non-financial firms. Further, the paper finds that duality is not value-enhancing board attribute for both financial and non-financial firms. The findings imply that differences in requirements for strategic or resource and monitoring functions in financial and non-financial firms are responsible for the differences in board attributes that are value-relevant for these firms. The findings suggest that the value relevance of board attributes differs in financial and non-financial firms.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-05-02
      DOI: 10.1108/JEAS-05-2021-0087
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Impact of tax reforms on revenue mobilisation in developing economies:
           empirical evidence from Ghana

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      Authors: Kofi Kamasa , David Nii Nortey , Frank Boateng , Isaac Bonuedi
      Abstract: This paper assesses the impact of tax reforms on tax revenue mobilisation in Ghana. The autoregressive distributed lag model together with dynamic ordinary least squares and fully modified least squares techniques were employed on a time-series data spanning from 1980–2018. Exploiting data from IMFs monitoring of fund arrangements database, an index of tax reforms is constructed as a function of the number of successfully implemented tax-related reforms and policy measures per year over the study period. Having established the presence of co-integration between tax revenue and its determinants, this paper finds strong evidence that tax-related reforms exert positive and significant impact on tax revenue generation in Ghana. Among other covariates, the results show that the tax base (real GDP), public debt and education (human capital index) significantly boosts tax revenue in the long run. The success of tax reforms in boosting revenue mobilisation has been examined in light of the buoyancy and elasticity of the tax system in Ghana, albeit with little emphasis on the extent to which tax reforms contribute to tax revenue mobilisation from econometric perspective. This paper fills this gap in the literature by analysing the impact of tax reforms on tax revenue mobilisation in Ghana. As a recommendation, well-designed and implemented tax reforms and policies aimed at increasing the tax base, education and effective utilisation of funds from public debt promise to be instrumental in boosting tax revenue in Ghana.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-04-28
      DOI: 10.1108/JEAS-01-2022-0011
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • The role of trust, opportunism and adaptation in coordination and contract
           cooperation: evidence from construction projects

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      Authors: Muhammad Zaheer Hashim , Liu Chao , Chao Wang , Sabir Hussain Awan
      Abstract: The purpose of this paper is to examine the influence of clients' trust, opportunism and adaptation on contractual (non)cooperation with a mediating role of coordination in the construction industry. A questionnaire was used to collect data from employees of the Pakistani construction industry. Smart partial least square (SmartPLS) has been used for analyzing the data of 270 respondents from construction projects. The results of the SmartPLS indicate that (1) Trust and contract coordination positively while opportunism negatively influence contractor's contractual cooperation. (2) Contract adaptation and contract coordination positively influence the noncontractual cooperation of the contractor. (3) Moreover, contract coordination positively mediates the relationship between trust and noncontractual cooperation, but negatively mediates the relationship between opportunism and contract adaptation and noncontractual cooperation. The findings of this research suggest several policy implications for administrative authorities, project managers and policymakers. These authorities need to focus on clients' trust, opportunism and adaptation because these factors significantly influence contract coordination and cooperation in the construction industry. Emphasizing these factors will enable project managers to gain economies of scale and mitigate project failure. To the best of the authors’ search and knowledge, they did not find any study examining the mediating role of coordination between trust, opportunism, adaptation and cooperation in the construction industry. Hence, the present study advances their understanding in the field of project management and construction business.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-04-26
      DOI: 10.1108/JEAS-01-2022-0008
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Persistent inefficiency, transient inefficiency and firm unobserved
           heterogeneity: a comparison of two frontier approaches using simulated and
           real data

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      Authors: Jean-Joseph Minviel , Yawose Kudawoo , Faten Ben Bouheni
      Abstract: Recent advances in stochastic frontier analysis (SFA) suggest two alternative approaches to account for unobserved heterogeneity and to distinguish between persistent and transient inefficiency. The first approach is the generalized true random effects (GTRE) model, and the second approach is an autoregressive inefficiency (ARI) model. This study compares them to highlight whether they capture similar inefficiency aspects. Using recent methodological advances in SFA, the authors estimate the GTRE and the ARI models using a Monte Carlo experiment and two real datasets from two industries (banking and agriculture). The authors find that the two models provide quite different results in terms of inefficiency persistence and overall inefficiency (combination of transient and persistent inefficiency), regardless of the dataset considered. The study findings suggest that researchers should be careful when referring to these two models because they do not capture the same inefficiency aspects, even though they have the same conceptual basis. This work is a warning about the empirical aspects of the persistent and transient efficiency framework, in order to convey a consistent story to the reader on firms' performance. Even though they are used in a large number of studies, the present paper contributes to the productivity and efficiency literature by providing the first comparison of the GTRE and the ARI models.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-04-26
      DOI: 10.1108/JEAS-10-2021-0216
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Revisiting fiscal deficit sustainability in South Africa

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      Authors: Arcade Ndoricimpa
      Abstract: This study reexamines fiscal deficit sustainability in South Africa. The study applies three cointegration testing approaches, namely testing for multiple structural changes in a cointegrated regression model, time-varying cointegration test and asymmetric cointegration test. The results point to the existence of a level relationship between government revenue and spending. In addition, the long-run equilibrium relationship between government revenue and spending in South Africa is found to be characterized by breaks. As such, assuming a constant cointegrating slope may be misleading. Results from time-varying cointegration and an estimation of a cointegrated two-break model indicate that cointegrating coefficient has been time-varying but has remained less than 1 for the entire study period, indicating that fiscal deficits have been weakly sustainable. This finding is also confirmed by the results from an estimated asymmetric error correction model. In view of the findings, authorities should put in place policies to improve the fiscal budgetary stance and reinforce the sustainability of the fiscal deficits in South Africa. Among other things, South Africa could undertake reforms to state-owned companies to reduce their reliance on public funds, slow down the pace of the public sector wage growth and devise effective economic measures to boost long-term growth. In addition, tax compliance and other revenue collection measures should be enhanced for additional tax revenue. The contribution of this study is twofold; first, the study uses a long series of annual data spanning over a century, from 1913 to 2020. Indeed, cointegration is better modeled using long spans of time series data. Second, to examine the existence of a level relationship between spending and revenue, the study uses cointegration tests which allow capturing time-variation in the cointegrating slope coefficient, and accounting for asymmetries in the relationship between government spending and revenue. It is important to allow for time-variation in the cointegrating slope coefficient, especially when it has been hardly treated in the empirical literature on fiscal deficit sustainability. Allowing for time-variation in the cointegrating slope coefficient helps us to analyze fiscal deficit sustainability by periods of time. Indeed, the degree of fiscal sustainability can change from one time period to another.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-04-26
      DOI: 10.1108/JEAS-10-2021-0217
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Mobile money for financial inclusion and saving practices: empirical
           evidence from Ghana

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      Authors: Paul Owusu Takyi , Constance Sorkpor , Grace Nkansa Asante
      Abstract: The purpose of this paper is to explore the impact of mobile money on savings and saving practices among individuals in Ghana. Employing an instrumental variable (IV) estimation technique, comprehensive data from the Financial Inclusion Insight (FII) Survey is used, implemented by InterMedia company and conducted from December 2014 to January 2015 in Ghana. It is found that mobile money use generally increases savings and saving behavior among individuals in Ghana. In particular, our results show that mobile money use increases the probability of individuals saving for business startup or business expansion, child's education and emergencies. Also, for the heterogeneous effects of mobile money use on saving practices, strong evidence that the use of mobile money is more pronounced in rural areas than in urban centers is found. To the best of our knowledge, no empirical study has been done on Ghana to extensively examine how mobile money affects various saving practices in Ghana as it is done in this paper. The paper highlights the need for ongoing enhancement of financial inclusion in rural areas by the government of Ghana and other stakeholders to boost savings among rural folks, while not neglecting that in urban areas. Generally, the findings for this paper support the use of mobile money as a tool for enhancing the financial inclusion agenda by policymakers in Ghana and many other countries around the world.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-04-26
      DOI: 10.1108/JEAS-11-2021-0232
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Asymmetric effect of exchange rate and investors' sentiments on stock
           market performance

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      Authors: Niaz Hussain Ghumro , Ishfaque Ahmed Soomro , Ghulam Abbas
      Abstract: This study investigates the asymmetric effects of exchange rate and investors' sentiments simultaneously on stock market performance in the United States context. In addition, we have also considered the potential effect of the global financial crisis of 2008 on this nexus. We have employed the NARDL (nonlinear autoregressive distributed lag) model on monthly data ranging from January-1999 to December-2018 to investigate the asymmetric (short- and long-run) effects of exchange rate and investors' sentiments on stock market performance. We have also broken down the data into two segments, pre and post-crisis periods to capture the effect of the global financial crisis of 2008. The findings of the study reveal that exchange rate and investors' sentiments simultaneously affect stock market performance and omitting any of these variables can produce misleading results. Results also show that the effect of sentiments is stronger than the exchange rate. There is significant evidence of asymmetric short-run and long-run effects of both explanatory variables. Moreover, we have found different outcomes for pre and post-crisis periods. Specifically, the impact of macroeconomic variables on the stock market has been substantiated in the post-crisis period. Several studies are available which separately evidence the effects of investors' sentiments and exchange rate on performance of the stock market but they can suffer from the problem of omitted variable bias. This study is conducted to test the said effect simultaneously in a single model. Moreover, this study is considering short-run and long-run asymmetry in analyzing the effects of explanatory variables along with the inclusion of the global financial crisis of 2008.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-04-25
      DOI: 10.1108/JEAS-12-2020-0205
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Corporate level politics from managers and employees perspective and its
           impact on employees' job stress and job performance

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      Authors: Hina Khan , Jawad Abbas , Kalpina Kumari , Hina Najam
      Abstract: Perception of organizational politics is one of the key factors of the organization's performance. Based on the principles of Game Theory, this study aims to examine the impact of management's and employee's politics within an organization on the psychological and organizational stress levels of workers, followed by their task and contextual performance. Following the non-probability convenience sampling technique, the data was collected from the managerial and non-managerial staff of public, private and semi-government services organizations in Rawalpindi, Islamabad, Lahore, Faisalabad, Gujranwala, Abbottabad and Karachi cities in Pakistan. The structural analyses indicate that organizational politics is a major cause of stress among workers and has a significant positive impact on the psychological and organizational stress of workers. Moreover, both organizational politics and job stress hinder workers' performance. The findings of the current research provide valuable insights into the management of firms about the destructive role of politics with a special focus on psychological and organizational stress, followed by job and contextual performance, particularly in the context of Pakistan. It also proposes strategies to counter this issue, improving worker's performance. Furthermore, the findings also suggest whether management or employees are more involved in organizational politics.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-04-21
      DOI: 10.1108/JEAS-12-2021-0246
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • The impact of public legal protection on the internal corporate governance
           efficiency in banking sector

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      Authors: Hani El-Chaarani , Zouhour El-Abiad
      Abstract: The purpose of this research is to reveal the impact of public legal protection on the efficiency of internal corporate governance in banks. In addition, this research proposes a new corporate governance index that could be employed by the banking sector to evaluate the performance of their internal corporate governance mechanisms. Orbis database, annual reports and direct questionnaire are used to collect corporate governance data of 127 banks from 14 countries during 2020. The Mann–Whitney U-test is employed to compare the efficiency of corporate governance mechanisms based on three subsamples of countries having different legal protection levels (weak, middle and strong). This research suggests a new corporate governance index for banks based on seven constructs and 62 variables. This new non-parametric index could be used by bankers to improve the monitoring process and enhance the overall performance of banking. The results of this research show that the existence of a strong public legal protection environment within a specific country enhances the efficiency of corporate governance mechanisms in the banking sector and thus, leads to improve the protection of shareholders, depositors and other relevant stakeholders. However, in countries that are characterized by weak legal protection level, the efficiency of corporate governance mechanisms is very low and there are possibilities of entrenchment, expropriation and extraction of private benefits. These findings could be interpreted within the prediction of agency, moral hazard, asymmetric information, political and entrenchment theories. This research paper provides information that bankers and other relevant stakeholders in the banking sector working in MENA (the Middle East and North Africa) and European countries. A strong public legal protection level could improve the efficiency of internal corporate governance mechanisms within banks.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-04-21
      DOI: 10.1108/JEAS-12-2021-0254
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • A business cycle model with money-in-utility (MIU) and government sector:
           the case of Bulgaria (1999–2020)

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      Authors: Aleksandar Vasilev
      Abstract: The author augments an otherwise standard business cycle model with a richer government sector and adds money-in-utility (MIU) considerations to study economic fluctuations. More specifically, real money balances enter in a non-separable way with consumption and leisure. This specification is then calibrated to Bulgarian data after the introduction of the currency board (1999–2020) gives a role to money in accentuating economic fluctuations. This novel mechanism allows the framework to reproduce – better than the real business cycle (RBC) model – the observed variability and correlations among model variables, and those characterizing the labor market in particular. In addition, money is non-neutral and affects aggregate economic activity. This is the first micro-founded monetary-DSGE (dynamic stochastic general equilibrium) model on Bulgaria trying to explain the role of money for economic fluctuations.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-04-18
      DOI: 10.1108/JEAS-02-2022-0029
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Water Poverty Index and its changing trend in India

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      Authors: Suchitra Pandey , Geetilaxmi Mohapatra , Rahul Arora
      Abstract: The purpose of this paper is to provide a picture of the water situation of the states of India and to identify key areas in which intervention is necessary for sustainable development and poverty elevation. To understand the trend and situation of water across the states, Water Poverty Index (WPI) has been constructed. WPI has been computed for the years 2012 and 2018 to get a picture of temporal change happening in the region. Further, descriptive statistics were used to show the required changes. Jharkhand and Rajasthan continue to be the worst performer in both time periods. Water poverty was the least in the states of Goa and Chandigarh for both time periods. Although owing to improvement in access and capacity component, the water status of India as a whole improved from 2012 to 2018 but few states have witnessed a decline in their water situation mainly due to deterioration in the environment and resource components. This paper adds to the relatively scarce literature on the water situation conducted for the states of India. The findings of the paper provide insights into the lacking areas responsible for the deterioration in water poverty status. The results can be utilized for framing proper policies to combat the water woes of the country.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-04-13
      DOI: 10.1108/JEAS-12-2021-0268
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Is there a link between undernourishment, political climate and other
           socio-economic variables' Evidence from low-income countries

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      Authors: Parviz Dabir-Alai , Mak Arvin , Rudra P. Pradhan
      Abstract: The authors investigate the role played by the political climate and other covariates on the prevalence of undernourishment for 34 low-income countries across a 21-year period. Political climate is measured in terms of political freedoms and civil liberties. The authors follow a Granger causality approach, which looks at predictive causality (i.e. causality in a temporal sense). For the socio-economic data, the authors rely on annual time series data from the World Bank. Most of the findings are in keeping with our expectations: (1) Lowering women's fertility rate lowers undernourishment; (2) undernourishment converges to its long-run equilibrium path in response to changes in income, political climate, health expenditure, fertility rate and drinking water access; (3) the effect of an instantaneous shock from income, changes to the political climate, health expenditure, fertility rate and drinking water access on undernourishment are completely adjusted in the long run. One surprising result is that there is a positive and significant relationship between the prevalence of undernourishment and political freedom. The authors offer several possible explanations for this unexpected result. Given our results, careful attention to the co-curation of policies is desirable. As an example, the authors would advocate a more proactive role by the richer countries in terms of their commitments to foreign aid in addressing the identified problems. The authors use advanced panel data techniques, considering a long span of time. Unlike other studies which aim to establish correlations, the authors test for Granger causality.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-04-12
      DOI: 10.1108/JEAS-11-2021-0244
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Does working capital management affect firm profitability' Evidence
           from European Union countries

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      Authors: Fitim Deari , Agim Kukeli , Nicoleta Barbuta-Misu , Florina Oana Virlanuta
      Abstract: The paper aims to investigate the dynamic relationship between working capital management and firm profitability for a sample of firms from eight European Union (EU) countries for the period 2006–2015. The panel regression model is used in the study. Firm profitability is measured using the return on assets (ROA) ratio, whilst cash conversation cycle, financial leverage, size, tangibility and cash flow ratio are used as independent variables. The novelty of this study is the use of cash flow ratio to develop the analysis firms by dividing them as healthy and nonhealthy. The paper reveals that working capital management affects firm profitability, and a positive relationship exists between them. The paper shows differences of working capital management and firm profitability across countries. The striking result of this study is that an inverted U-shape relationship exists between working capital management and firm profitability. Whereas the findings suggest that firms should be as close as possible to the optimal length of cash cycle to increase profitability, and managers should give a priority to working capital optimization. The authors consider results of this study relevant to both researchers and business policymakers in the field of working capital management policies.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-04-08
      DOI: 10.1108/JEAS-11-2021-0222
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Effect of competition on managerial practices: evidence from SMEs in the
           MENA region

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      Authors: Mukhammadfoik Bakhadirov , Omar Farooq
      Abstract: The aim of this paper is to document the impact of competition on managerial practices adopted by small and medium enterprises (SMEs). The paper uses the data provided by the World Bank’s Enterprise Surveys to test the arguments presented in this paper. The data were collected during the period between 2013 and 2014 and the sample consists of firms from Egypt, Jordan, Lebanon, Tunisia and Yemen. The authors show that SMEs with higher exposure to competition are more likely to adopt better managerial practices than SMEs with lower exposure to competition. The authors argue that competition disciplines the managers by exposing firms to the possibility of bankruptcy and/or the loss of market share to competitors. Therefore, these firms are compelled to adopt good managerial practices to protect themselves against negative impact of competition. The results show that positive impact of competition on managerial practices is confined only to the competition that comes from foreign competitors. Local competitors or competitors from informal sector have no significant impact on the adoption of good managerial practices. An important contribution of this paper is that it documents how various types of competition affect SME’s decision to adopt better managerial practices. Another important contribution is highlighting of the role played by the competition in shaping the management practices among SMEs in the MENA (Middle East and North Africa) region.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-04-07
      DOI: 10.1108/JEAS-09-2021-0197
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • The subjective well-being of self-employed persons: a national survey
           evidence from Ghana

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      Authors: Thomas Korankye , Joshua King Safo Lartey
      Abstract: This study aims to examine the subjective well-being of self-employed persons relative to wage employees in Ghana. Two measures of subjective well-being, comprising life satisfaction and happiness, are considered. The current study focuses on Ghanaian working adults, uses pooled cross-sectional datasets from the 2005 to 2014 World Values Survey (WVS), applies survey weights, estimates ordered probit models and computes marginal effects. The results show that being self-employed is associated with a lower probability of being satisfied with life than being wage employed. The result for happiness is negative but not statistically significant. The perceived low level of life satisfaction among the self-employed in Ghana could explain the rationale behind the desire of some Ghanaians to seek wage employment rather than pursuing self-employment. The results also could partly explain the non-survival of some entrepreneurial firms in Ghana over time. Data relating to factors such as business size, location (urban or rural), degree of internationalization (domestic or foreign), number of years of being in self-employment, the number of employees, financial knowledge and behavior and personality traits are unavailable in the WVS for analyses. The present study also uses a pooled cross-sectional dataset for the analyses; thus, causal inferences are not possible. The study provides empirical evidence on the relationship between self-employment and subjective well-being in the context of Ghana. The study provides insights into how self-employed Ghanaians perceive well-being relative to wage employees.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-04-04
      DOI: 10.1108/JEAS-12-2021-0248
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Managerial perceptions in Indian apparel manufacturing: a firm-level
           survey

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      Authors: Dhwani Gambhir , Seema Sharma
      Abstract: The paper explores the managerial perceptions in Indian apparel manufacturing firms related to production performance, challenges faced, causes of low efficiency and the government support needed. A structured survey of Indian apparel manufacturing firms was undertaken in person and through the online mode; the questionnaire was designed to collect data on demographic profile of a firm using categorical questions and perceptions of its top managers using a five-point Likert scale. The survey findings reveal that most apparel manufacturing firms believe that exporting promotes efficiency and adopt output orientation to production, which may not be suitable in a competitive and uncertain environment. Machines are not used much for value-addition and labour related issues are most pressing challenges. Government support is expected for several aspects such as power supply and skill development. The paper is limited by the nature of the sampling method and sample size; perceptions should be explored without bias and with good judgement. The survey findings suggest that government policy should have a firm-specific approach to support improved production performance along with generic policies to build infrastructure and logistical facilities. To the best of authors’ knowledge, there has been no such exercise to study managerial perceptions related to production performance in Indian apparel manufacturing in the past decade.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-03-29
      DOI: 10.1108/JEAS-12-2020-0207
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Examining the relationship between health professionals' organizational
           commitment and job satisfaction: a systematic review and meta-analysis

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      Authors: Fadime Çınar , Hasim Çapar , Samet Mermerkaya
      Abstract: This meta-analysis aimed to examine health professionals' job satisfaction and organizational commitment. This research was conducted using the meta-analysis method, one of the quantitative research methods. A preliminary literature search was conducted to determine keywords over the internet access network. With screening, keywords such as “Organizational commitment,” “Organizational loyalty,” “Job satisfaction,” “job satisfaction,” “Healthcare worker,” “Organizational commitment,” “Organizational faith,” “job satisfaction,” “Job saturation” keywords in Turkish and English were determined. Nine full-text articles published in peer-reviewed journals between 2014–2020 from the electronic databases of Google Scholar, Web of Science, Scopus, Science Direct, EKUAL and Google Academic were included in the meta-analysis. The study's effect size and publication bias included in the meta-analysis were calculated using the CMA 3 (Comprehensive meta-analysis) program. The total sample number of the studies included in the analysis is 7,218. According to the random effects model, the overall effect size between job satisfaction and organizational commitment was statistically significant, with a value of 0.544 (confidence interval [CI]; 0.445–0.629; p 
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-03-22
      DOI: 10.1108/JEAS-01-2021-0002
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Working capital management and firm performance nexus in emerging markets:
           do financial constraints matter'

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      Authors: Imad Jabbouri , Harit Satt , Oumaima El Azzouzi , Maryem Naili
      Abstract: This study aims to examine the impact of working capital management (WCM) on firm performance. The authors pursue innovation by exploring how the level of financial constraints shapes the impact of WCM on corporate performance. In this study, the generalized method of moments (GMM) is used to analyze a sample of 753 firms listed on ten Middle East and North Africa (MENA) emerging markets. The authors' empirical analysis demonstrates that financially constrained firms are coerced to adopt an aggressive WCM approach to reduce investment in working capital, minimize financing costs and improve financial performance despite the risks associated with this strategy. Contrarily, financially unconstrained firms, uphold a high level of investments in working capital to grow sales and improve financial performance. The authors' results strongly reject the “one size fits all” approach of WCM. The authors assert that the degree of financial constraints largely defines the firm's optimal WCM approach. The authors' study reveals to financial managers the importance of adopting an appropriate WCM strategy that fits firm-specific characteristics and financial flexibility. The authors' results urge policy makers to ease access to financing to all firms to enhance both their financial flexibility and ability to respond efficiently to emerging investment opportunities as well as develop resilience to economic slumps. To the best knowledge of the authors, this is the first study that explores WCM and financial constraints in MENA emerging markets.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-03-17
      DOI: 10.1108/JEAS-01-2022-0010
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Linking LMX and schedule flexibility with employee innovative work
           behaviors: mediating role of employee empowerment and response to change

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      Authors: Saima Rafique , Naveed R. Khan , Shuaib Ahmed Soomro , Fazeelat Masood
      Abstract: The paper aims to investigate the determinants of workplace innovation behavior of women employees in Pakistan. With a growing share of women's participation in the labor force in developing economies, it is crucial to understand their behavior. The authors looked into various practices that drive women's innovative behavior using social exchange theory (SET) as a theoretical framework. This study is quantitative-based on the positivistic paradigm. Following the survey method technique, responses are collected from 317 female employees in the service industry. The authors used structural equation modeling for the data analysis. The results indicate a significant impact of leader-member exchange (LMX) on employee empowerment; schedule flexibility was also a possible predictor of workplace innovation behavior through mediating roles of employee empowerment and response to change. The study findings are consistent with the prior literature and according to the developed hypothesis. Further, women's response to change partially mediates women employees' empowerment and workplace innovation behaviors. In addition, LMX significantly affects women's response to change through women employees' empowerment, leading to workplace innovation behavior. The implication is that supervisors should be adaptable in working relationships with their women employees to bring positive workplace innovative behaviors. They create such exchanges with employees to make them feel that the organizations value them. The paper identifies the need to develop supportive supervisor-employee exchange relationships to encourage positive, innovative behavior in female employees. This paper examines the workplace innovation behavior of women employees in Pakistani patriarchal society and a male-dominating workplace environment.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-03-17
      DOI: 10.1108/JEAS-11-2021-0238
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • The effect of COVID-19 pandemic on economic growth and public debt: an
           analysis of India and the global economy

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      Authors: S. Pratibha , M. Krishna
      Abstract: The study attempts to examine the effect of the COVID-19 pandemic on the economic growth and public debt of the Indian economy. The authors also attempt to make quarterly projections of economic growth and external debt (ED) for the next five years. The objective is to understand how much time the economy takes to recover and at what pace. Consequently, this study elucidates the composition of debt after the crisis in the next five years. To predict India's gross domestic product (GDP) and ED for the next five years, the authors used an auto-regressive integrated moving average (ARIMA) model. This model was built under a Box–Jenkins methodology (Box and Jenkins, 1976) and was subjected to an augmented Dickey–Fuller (ADF) test to check the stationarity of the data. The methodology includes three main steps to estimate and forecast the model: identification, estimation, and diagnostic and forecasting. The study finds that the outbreak of the COVID-19 pandemic has significant implications for economic growth and public debt. The economy faced contraction in the first quarter of the year 2020 due to the suspension of economic activities and still struggling with the negative values of GDP. The forecasting results reveal that ED will continue to grow to meet the increasing health expenditure needs, and GDP will also bounce back slowly after the end of the year 2021. It has been noticed that the recurrent crisis derails the developing economies from the path of sustainable development to a prolonged economic slump with mounting public debt. The study examines the impact of the COVID-19 pandemic on economic growth and public debt with particular reference to India. To the best of the authors’ knowledge, this is the first time the quarterly projections for GDP and ED have been made after the COVID-19 crisis.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-03-15
      DOI: 10.1108/JEAS-01-2022-0018
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Trust in peer-to-peer (P2P) lending platforms in Malaysia: understanding
           the determinants from retail investors' perspectives

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      Authors: Mohammad Tariqul Islam Khan
      Abstract: Despite a large stake of investment by retail investors and a growing number of peer-to-peer (P2P) lending platforms coupled with the initiation of secondary market and strong regulatory framework, less is known what leads investors to trust in P2P (TP2P) lending platforms in a multi-ethnic country, Malaysia. This study aims to investigate the effects of individual characteristics (gender, age, ethnicity, education and income), social influence of P2P (SIP2P) lending and privacy of P2P (PP2P) lending on the trust in emerging P2P platforms. A cross-sectional survey was conducted to collect the data from retail investors in Malaysia. A variance-based partial least squares-structural equation modeling (PLS-SEM) model was applied to examine the significant predictors of TP2P lending platforms. The results show that while investors' income is positively related to TP2P lending platforms, younger investors are less likely to have trust on P2P lending platforms. PP2P lending platforms increases retail investors' trust toward P2P platforms in Malaysia. P2P service providers are suggested to give especial attention to investors' specific characteristics to develop trust and attract investors to the platforms. Service providers need to ensure the privacy of potential investors' personal and confidential data to build investors' trust. This is the first study to assess retail investors' trust toward online P2P lending platforms in Malaysia, where this alternative financing platform gradually gaining popularity.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-03-15
      DOI: 10.1108/JEAS-08-2021-0148
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • The impact of National Home Grown School Feeding Programme (NHGSFP) on
           rural communities in Nigeria

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      Authors: Nduka Elda Okolo-Obasi , Joseph Ikechukwu Uduji
      Abstract: The purpose of this paper is to critically examine the National Home Grown School Feeding Programme (NHGSFP) in Nigeria. Its special focus is to investigate the impact of NHGSFP on rural communities in Nigeria. This paper adopts a survey research technique, aimed at gathering information from a representative sample of the population, as it is essentially cross-sectional, describing and interpreting the current situation. A total of 2,400 households were sampled across the six geopolitical regions of Nigeria. The results from the use of a combined propensity score matching and logit model indicate that NHGSFP makes significant contributions to improving the health and educational status of rural school children, stimulates job creation and boosts rural economy. This implies that a well-designed and integrated Home Grown School Feeding Programme (HGSFP) can make significant contributions to improving food security at the household level, spurring job creation and boosting agricultural markets. This suggests the need for a purposeful engagement and support from all stakeholders to ensure the success of HGSFP. This research adds to the literature on school feeding in low-income countries. It concludes that school feeding programmes have been shown to directly increase the educational and nutritional status of recipient children and indirectly impact the economic and social lives of themselves and their family.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-03-15
      DOI: 10.1108/JEAS-10-2021-0211
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Quality of work-life: scale construction and validation

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      Authors: Sumbul Zaman , Amirul Hasan Ansari
      Abstract: There is a compelling need for developing constructs in management science rather than adapting the constructs that have been developed in other domains. Having emerged in the 1950s, quality of work-life (QWL) measures have proved to be ineffective due to the lack of conceptual clarity and theoretical support. The article analyses the QWL measures highlights their coherence and verifies them for being used in specific contexts. The study includes three stages to develop a QWL Measurement Scale. Fourteen questions were developed based on QWL concepts. They were validated using exploratory factor analysis (EFA) which split the dimensions into five factors. A survey was conducted on 375 medical residents. Finally, confirmatory factor analysis (CFA), convergence and validity were tested along the five dimensions. Results extend the QWL concept and provide theoretical support for the same. Five dimensions were developed to measure QWL namely: pay and benefits, supervision, intra-group relations, working conditions and training. The study may offer an overview of evaluation strategies to researchers and organizations that aim to improve employee QWL while they enhance its effectiveness through reliable instruments. The scale developed in this study contributes to the body of QWL literature in the healthcare arena. It may be beneficial to carry out further research in this domain.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-03-10
      DOI: 10.1108/JEAS-07-2021-0118
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • The Role of Compensation As a Determinant of Performance and Employee Work
           Satisfaction: A Study at The PT Bank Rakyat Indonesia (Persero) Tbk

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      Authors: Rojikinnor Rojikinnor , Abdul Juli Andi Gani , Choirul Saleh , Fadillah Amin
      Abstract: The purpose of the study is to conduct an in-depth study of employee performance in connection with compensation, job satisfaction and the work environment of employees at the PT Bank Rakyat Indonesia (Persero) Tbk. This study was performed at the PT Bank Rakyat Indonesia (Persero) Tbk, which operates in Indonesia, and included all employees of the different branch offices in Sumatera, Jawa, Kalimantan, Sulawesi, Bali and Jayapura. Compensation does not directly affect employee performance but working environment does directly influence employee performance at the PT Bank Rakyat Indonesia (Persero) Tbk. There is the power of compensation and working environment on job satisfaction and employee performance at the PT Bank Rakyat Indonesia (Persero) Tbk. The difference between this research and previous ones is the application of compensation influence testing on employee job satisfaction and performance within one bank in Indonesia.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-02-28
      DOI: 10.1108/JEAS-06-2020-0103
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • The impact of COVID-19 on financial structure and performance of Islamic
           banks: a comparative study with conventional banks in the GCC countries

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      Authors: Hani El-Chaarani , Tariq H. Ismail , Zouhour El-Abiad , Mohamed Samy El-Deeb
      Abstract: The aim of this paper has twofold: (1) to explain and compare the financial evolution of Islamic and conventional banking sector in the Gulf Cooperative Council (GCC) countries before and during the COVID-19 pandemic and (2) to explore the key success factors that might affect Islamic and conventional banks performance before and mainly during COVID-19 pandemic period. Orbis Bank Focus database and annual financial reports are used to collect financial information of Islamic and conventional banks in GCC countries over four years: 2017, 2018, 2019 and 2020. Descriptive statistics, T-test, multiple regression, and 2SLS and GMM models are employed to analyze the financial structure and performance of Islamic and conventional banks before and during the COVID-19 pandemic period. Results of this study reveal that (1) there is a significant difference between Islamic banks and conventional banks during the crisis of COVID-19, where the conventional banks have presented a higher level of financial performance and financial liquidity than their Islamic counterparts, (2) conventional banks have revealed higher capacity to manage their financial risk during the crisis period, and (3) a high level of non-performing loan, high inflation rate and high percentage of non-important cost have a negative impact on the financial performance of Islamic banks mainly during the pandemic period of COVID-19. However, the result indicates that a high level of liquidity risk increased the performance of Islamic banks but this impact falls sharply during the pandemic period. This study provides information that supports investors, regulators and executive managers in GCC countries. A well-structured balance sheet would improve the financial performance and risk management of the banking sector in GCC countries, especially in times of crisis and pandemics.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-02-28
      DOI: 10.1108/JEAS-07-2021-0138
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • How ethnic dissimilarity influences perceived organizational support and
           organizational citizenship behaviors'

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      Authors: Luen Peng Tan , Yuen Onn Choong , Ching Seng Yap , Kum Lung Choe , Parisa Rungruang , Zhen Li
      Abstract: This study examines the mediating effect of self-efficacy between perceived organizational support (POS) and organizational citizenship behaviors (OCB) organization (OCBO); and POS and OCB individual (OCBI) in a cross-cultural context. Data were collected from 207 full-time academics from the private universities in Malaysia and Mainland China using a questionnaire survey. The results indicate that self-efficacy is a salient mediator linking POS with OCBI and OCBO. Additionally, ethnic dissimilarity is found to have a contextual influence on the research model as the results reveal that self-efficacy only mediates the relationship between POS and OCBO but not between POS and OCBI in a heterogeneous society. In contrast, self-efficacy is found to mediate the relationships between POS and OCBO and between POS and OCBI in a homogeneous society. This study contributes to the literature by being one of the first studies that examine the relationship between self-efficacy and two dimensions of OCB in two different cultural contexts.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-02-22
      DOI: 10.1108/JEAS-08-2021-0145
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Establishing the relationship between population aging and health care
           expenditure in India

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      Authors: Geetilaxmi Mohapatra , Rahul Arora , Arun Kumar Giri
      Abstract: The main purpose of this paper is to examine the role of population aging in determining the health care expenditure (HCE) in India over the period 1981 to 2018. While establishing the linkage between population aging and HCE, the study has used economic growth, urbanization and CO2 emissions as control variables and used the autoregressive distributed lag (ARDL) approach to cointegration and VECM based Granger causality approach to estimate both the long-run and short-run relationships among the variables. The results of the ARDL bounds test showed that there is a stable and long-run relationship among the variables. The long-run and short-run coefficients reveal that population aging and income per capita exert a statistically significant and positive effect on per capita HCE in India. The VECM causality evidence shows that there is a presence of short-run causality from economic growth and population aging to per capita HCE, urbanization to environmental degradation and further from aging to urbanization. However, the long-run causality evidence confirms unidirectional causality from population aging to the per capita HCE. The research findings could be improved by considering the changes in mortality rate over time because of other environmental factors such as air pollution, among others as control variables. Various other variables affecting the health of an aged person could be considered for better research outcome which is not included in the present study because of the paucity of data. However, the present research findings would certainly serve effective policy instrument aiming at maximizing health gains that are highly associated with the elderly population and economic growth towards achieving sustainable development in India. The uniqueness of the present study lies in its estimation where the relationship between population aging and HCE is looked at while considering the impact of other environmental factors separately. The causal relationship is shown among the variables using updated econometrics time-series techniques. The study tried to resolve the ambiguity associated with the relationship between aging and HCE at a macro level.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-02-11
      DOI: 10.1108/JEAS-08-2021-0144
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Determinants of bank income smoothing using loan loss provisions in the
           United Kingdom

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      Authors: Peterson K. Ozili
      Abstract: This paper examines the determinants of bank income smoothing using loan loss provisions in the United Kingdom or Great Britain from 1999 to 2017. The study used ordinary least square (OLS) regression and applying the HAC robust standard error correction test. The findings showed that UK banks use loan loss provision for income smoothing purposes. Income smoothing is greater in times of high economic policy uncertainty. The extent of bank income smoothing is reduced by foreign bank presence, UK GAAP adoption, IFRS9 adoption, and high levels of voice and accountability. Also, there is reduced income smoothing using loan loss provisions during a financial crisis and in periods of economic prosperity. The implication is that economic conditions, institutional governance and accounting disclosure rules can influence the extent of bank income smoothing in the United Kingdom. The findings of the study contribute to several studies that explore the determinants of bank income smoothing. No study has extensively examined the determinants of bank income smoothing in Great Britain or the United Kingdom. The present study fills this gap in the literature.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-02-07
      DOI: 10.1108/JEAS-09-2021-0192
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Stock market development and economic growth in sub-Saharan Africa
           (1990–2020): an ARDL approach

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      Authors: Kesuh Jude Thaddeus , Chi Aloysius Ngong , Ugwuanyi Jacinta Nnecka , Njimukala Moses Nubong , Godwin Imo Ibe , Onyejiaku Chinyere C , Josaphat Uchechukwu Joe Onwumere
      Abstract: The purpose of this paper is to investigate the short and long run causal relationship between stock market development and economic growth in sub-Saharan Africa within the period 1990 and 2020. Using panel data from 1990–2020 obtained from the World Bank development indicators, the study makes use of the autoregressive distributed lag model and the Granger causality and cointegration to analyze the long and short run causal relationship between stock market development and economic growth in sub-Saharan Africa. The findings unveiled that stock market capitalization had a positive and significant effect on economic growth in the long run and a negative insignificant effect in the short run within the period of 1990–2020 while stock market liquidity measured through total value of shares traded and turnover ratio had a negative and significant effect on economic growth in sub-Saharan Africa within the period of 1990–2020. The Granger causality test showed an inconclusive result between stock market development and economic growth; implying that the authors cannot say if it is stock market development that causes economic growth or it is economic growth that causes stock market development within the period of 1990–2020. The findings suggest that governments of sub-Saharan African countries should encourage stock market development by implementing favorable rules for companies listing on their stock market, promote stock market integration with world markets to diversify risk, increase public awareness on stock markets, increase investors' confidence level and finally, remove stock market impediments like high taxes, legal and regulatory barriers to its development. This study contributes to the existing literature by offering a whole new perspective on stock market development and economic growth since its conception in sub-Saharan Africa. Again, contrary to other papers, the study show how stock market development can contribute to the growth of sub-Saharan Africans’ economy.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-02-04
      DOI: 10.1108/JEAS-04-2021-0075
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Bank profitability in Sub-Saharan Africa: does economic globalization
           matter'

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      Authors: Ibrahim Nandom Yakubu , Alhassan Bunyaminu
      Abstract: This study aims to examine the impact of economic globalization on bank profitability in Sub-Saharan Africa. The empirical analysis is based on panel data of banks spanning 2008–2016. Relying on the KOF Globalization Index, the study uses financial globalization and trade globalization as measures of economic globalization. The authors employ the system generalized method of moments technique to establish the relationship between economic globalization and bank profitability while controlling for the effect of bank-specific and macroeconomic factors. The results show a negative significant effect of financial and trade globalization on bank profitability, signifying the intense competition of banks in Sub-Saharan Africa accelerated by globalization. The negative effect of economic globalization holds irrespective of the indicator of bank profitability. Bank size exerts a significant effect on profitability though the impact is negative for return on equity measure. The findings further reveal a positive significant impact of GDP growth and inflation on profitability. This paper presents a pioneering work on the impact of economic globalization on bank profitability in the Sub-Saharan African context per the researchers' knowledge.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-02-04
      DOI: 10.1108/JEAS-08-2021-0158
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Impact of recruitment practices on organizational commitment: mediating
           role of employer image

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      Authors: Tahir Hussain , Khalil Ahmed Channa , Maqsood H. Bhutto
      Abstract: From managerial perspective, the authors investigate the boundary and effective conditions of recruitment practices (e.g. job advertising and manager recruiting behavior) on recruitment outcomes that include employer image and organizational commitment in the context of recruitment practices. Drawing on signaling theory, the authors argue that using recruitment practices is generally more effective for creating employer image and organizational commitment. The authors received a final sample of 213 from the employees of beverage industry. In doing so, statistical softwares SPSS (v.23) for data screening and SmartPLS (v.3.3.3) were used for hypothesis testing. Using survey-based study, the study finds (1) that recruitment practices including job advertising and managers' recruiting behavior can be superior to developing employer image that positively can value the organizational commitment (2) The study identifies a significant role of employer image that is mediating between recruitment practices and post recruitment outcome (e.g. organization commitment). The outcomes of the study provide valuable directions for human resource (HR) managers in national and multinational public organizations. The article offers recruitment strategies/practices to enhance employer image and organizational commitment. The novelty of the study is the unique research framework, as the current paper is among the pioneers to empirically analyze the effect of recruitment practices on post-recruitment outcome testing the mediating relationship of employer image between job advertising organizational commitment and between managing recruiting behavior and organizational commitment.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-02-03
      DOI: 10.1108/JEAS-10-2020-0176
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Vulnerable employment and economic growth

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      Authors: Sridevi Yerrabati
      Abstract: The reality with many developing countries is that the countries have failed to create enough jobs for the poor and vulnerable. Under such circumstances, vulnerable employment plays a critical role in providing earning opportunities to people who are unemployed and determining the economic and social progress of such economies. The study aims to examine the possible non-linear relationship between vulnerable employment and growth in light of this background. The study employed five-yearly averaged data of 73 developing countries for the period 2000–2019. The empirical analysis is performed using the dynamic panel data analysis and the two-step system generalised method of moments (GMM) approach. The estimations are run separately for male, female and total vulnerable employment. The threshold levels are obtained using Sasabuchi (1980) and Lind and Mehlum (2010) (SLM) test. Several sensitivity checks are performed to validate the results. The findings of the study suggest a non-linear U-shaped relationship between vulnerable employment and growth. Thus, a positive association between vulnerable employment and growth is witnessed at higher levels of vulnerable employment. At lower levels, the relationship is negative. Threshold levels for male, female and total vulnerable employment are 46.80%, 49.29 and 50.94%, respectively. Therefore, vulnerable employment beyond the threshold levels is found to be positively associated with growth. Countries below the threshold level of vulnerable employment should understand why these workers are not able to contribute to the growth despite working so hard. If any socio-economic barriers hinder their contribution towards growth, such barriers require greater policy attention. Countries with vulnerable employment levels above the threshold level should recognise the contributions of these workers towards the growth and actively support them in increasing their economic contribution. In either case, given the precarious circumstances under which these workers work and the pittance earnings, policy interventions aimed at ensuring decent working conditions and better earnings for these workers are encouraged. The current study is the first one to examine the relationship between vulnerable employment and growth to the best of the author's knowledge. As such, it makes novel contributions to the literature on development policy.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-02-01
      DOI: 10.1108/JEAS-07-2021-0123
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Board diversity and working capital management strategies: evidence from
           energy sector of Pakistan

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      Authors: Ammar Nawaz Khan , Farzan Yahya , Muhammad Waqas
      Abstract: This study investigates the mediating role of working capital management (WCM) efficiency between board diversity (based on gender and financial knowledge) and firm performance. The study further examines which WCM approach (conservative, moderate, and aggressive) they employ to increase (decrease) firm performance. The study employs listed energy firms of Pakistan over the period 2010 to 2019. The system generalized method of moments estimator and logit model are utilized to estimate the underlying relationships. The results show that WCM efficiency partially mediates the relationship between board financial expertise (BFE) and firm performance. Nonetheless, the presence of female directors is merely symbolic until they reach a certain level as only the quadratic term of board gender diversity (BGD) has a significant effect on firm performance. Female directors do not influence WCM efficiency. The results also demonstrate that BGD encourages a conservative WCM approach, while BFE encourages a moderate WCM approach. Furthermore, both conservative and moderate WCM approaches are significantly associated with firm performance. The findings hold implications for increasing the representation of women and financial experts on board to improve the capital structure decisions of the energy firms in Pakistan. This study is the first attempt to explore the mediating role of WCM efficiency between board diversity and firm performance. To the best of the authors' knowledge, no previous study has investigated the effect of BGD and BFE on different WCM approaches distinctly.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-02-01
      DOI: 10.1108/JEAS-09-2021-0183
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Commodity prices, inflation and inflation uncertainty among emerging
           economies

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      Authors: Rexford Abaidoo , Elvis Kwame Agyapong
      Abstract: This paper examines the role price fluctuations associated with internationally traded commodities play in inflationary conditions and inflation uncertainty among economies in Sub-Saharan Africa. Using a panel 32 countries from the sub-region from 1996 to 2019, this study employed Two-Step System Generalized Method of Moments (GMM) estimation technique in its analysis. Empirical evidence demonstrates that fluctuations in forex-adjusted price of crude oil, gold and cocoa have significant positive impact on inflation while forex-adjusted changes in price of cotton tend to have significant negative influence on consumer price inflation among economies in the sub-region. Additionally, the study found that gold, cocoa and cotton price changes on the international market have significant positive impact on inflation uncertainty in the sub-region (rise in price leads to increase rate of inflation uncertainty). Furthermore, improved regulatory quality and growth in output growth (GDP per capita growth) were found to help in stabilizing inflation uncertainty (reduce inflation uncertainty) among economies in the sub-region during periods of persistent growth in general price levels. The study present a different approach based on individual economy forex-adjusted global prices of internationally traded commodities instead of general prices often used in the literature and assessed the effects such adjusted commodity prices have on inflation and inflation uncertainty. Additionally, the moderating role of regulatory quality and output growth between surmised nexuses are also examined.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-02-01
      DOI: 10.1108/JEAS-10-2021-0203
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • The effect of economic policy uncertainty index on the Indian economy in
           the wake of COVID-19 pandemic

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      Authors: Raktim Ghosh , Bhaskar Bagchi , Susmita Chatterjee
      Abstract: The paper tries to analyse empirically the impact of India's economic policy uncertainty (EPU) index on different macro-economic variables of India, like import, export, interest rate, exchange rate, inflation rate and stock market during pre-COVID-19 and COVID-19 era. Although there exist several works where relationship and volatility among the stock markets and macro-economic indicators during the COVID-19 pandemic have been estimated, but till now none of the studies examined the effect of EPU index on different macro-economic variables in the Indian context along with the stock market due to the outbreak of COVID-19 pandemic. This is considered a noteworthy gap and hence opens up a new dimension for examination. To get a clear picture, monthly data from January, 2012 to September, 2021 have been considered where January, 2012–February, 2020 is taken as the pre-COVID-19 period and March, 2020–September, 2021 as COVID-19 period. All the data are converted into log natural. The authors applied DCC-GARCH model to investigate the impact of EPU index on volatility of selected variables over the study period across a multivariate framework and Markov regime-switching model to examine the switching over of the variables. The results of dynamic conditional correlation - multivariate generalized autoregressive conditional heteroskedasticity (DCC-MGARCH) model indicates the presence of volatility in the dependent variables arising out of economic policy uncertainty considering the segmentation of the study period into pre-COVID-19 and COVID-19. The results of Markov regime-switching model show the variables make a significant move from low-volatility regime to high-volatility regime due to the presence of COVID-19. It can be implied that impact of EPU in terms of volatility on the Indian Stock Market will lead to unfavourable investment conditions for the prospective investors. Even, the different macro-economic variables are to suffer from the volatility arising out of EPU across a long time horizon as confirmed from the DCC-MGARCH model. The study is original in nature. It adds superior values from the new and significant findings from the study empirically. Application of DCC-MGARCH model and Markov regime switching model makes the study an innovative one in terms of methodology and findings.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-01-27
      DOI: 10.1108/JEAS-08-2021-0172
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Impact of personality traits on financial planning: an empirical
           evidence from Pakistan

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      Authors: Jawad Abdul Ghaffar , Muhammad Sualeh Khattak , Tazeem Ali Shah , Mahad Jehangir
      Abstract: This study examines the role of the big five personality traits: conscientiousness, openness, extroversion, neuroticism and agreeableness in financial planning. The research design is a quantitative approach. The study has used structured questionnaires to collect data from 403 business students. The hypotheses were tested through structural equation modeling using AMOS. The findings revealed that extroversion of personality traits have a significant negative influence on financial planning, neuroticism and conscious personalities have a significant positive effect on financial planning. However, two personality traits, namely openness and agreeableness, have no significant influence on financial planning. The study confirmed that out of five, three personality traits have significant impact on financial planning. The results suggest that all personality traits do not influence financial planning among students. Financial planning is deemed an essential decision in life. Although some people are very conscious about their future expenditures, others are not much concerned. Based on the findings, this study recommends that policymakers may conduct workshops and arrange seminars and conferences for the promotion of financial planning and individual's financial well-being. The government needs to promote financial education that can directly and indirectly enhance the saving planning capabilities of the people. The results suggest that not all personality traits facilitate financial planning. Financial planning is deemed as a crucial decision in life. Some students are very conscious about their future expenditures, while others are not much concerned. This study recommends that policymakers conduct workshops and arrange seminars and conferences to promote financial planning and individuals' financial well-being. The government of Pakistan needs to promote financial education that can, directly and indirectly, enhance the savings and planning capabilities of the students. This research contributes to the personality literature, the theory of planned behavior and the life cycle theory by testing the model based on empirical evidence. The current study is the first to focus on the role of the big five personality traits in financial planning among students in Pakistan, an emerging economy.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-01-25
      DOI: 10.1108/JEAS-08-2021-0147
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Inclusive organization: inclusion by reducing female managers'
           vulnerabilities through social media

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      Authors: Muhammad Irfan , Omar Khalid Bhatti , Ali Osman Ozturk
      Abstract: Female managers have numerous vulnerabilities related to their reputation and career progression in addition to social, sexual and discriminatory vulnerabilities. In organizational settings, antagonized subordinates, peers or superiors can exploit their vulnerabilities through negative use of social media. For optimal performance and inclusion in organizational activities, it is essential to protect female managers against exploitation. Social media can be used for this purpose and dictates an investigation into it as an agent to reduce vulnerabilities and enhance inclusion of female managers. Qualitative data collected through 25 in-depth semi-structured interviews from respondents belonging to five different organizations has been used in this exploratory study. Thematic analysis was done to reach the underlying structures of subjective responses of female managers. This study finds that positive use of social media is effective in reducing vulnerabilities and female managers feel more included and protected against exploitation in inclusive organizations. The study presents a holistic view of vulnerabilities of female managers, various forms taken by negative use of social media, mechanics of positive use of social media and pathways to inclusive organization through reduction of vulnerabilities. Availability of limited time, resources and a single cultural context were few limitations. The study highlights an important area for further research indicating psychological trauma of victimized female managers forcing them to feel excluded from the organization. This study will enhance understanding of practitioners about vulnerabilities of female managers and its likely accentuation through negative use of social media. In addition, they can learn the use of social media for reducing vulnerabilities and enhancing inclusion of female managers. This study also shed light on methodology to handle the situation in the face of all forms of negative use of social media. Female managers are highly vulnerable to exploitation through use of social media by antagonized groups and individuals who can easily attack their reputation and image. This study is an effort to reduce vulnerabilities of business women. Additionally, it is also aimed at enhancing inclusion of females in organizational activities to counter their isolation and discrimination on the basis of gender. The issue of negative use of social media has not received attention of scholars. Being a research gap, exploratory study based on qualitative responses has been conducted to explore different facets of the issue. In-depth interviews have been conducted to collect primary data.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-01-21
      DOI: 10.1108/JEAS-03-2021-0062
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Humanoid psychological sentiments and enigma of investment

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      Authors: Mazhar Farid Chishti , Rizwana Bashir , Tanja Mancinelli , Rana Tanveer Hussain
      Abstract: The primary goal of this study is to look at the behavioral factors that influence an individual's decision to invest in the Pakistan Stock Exchange (PSX). Existing behavioral finance theories serve as a foundation for hypotheses. Further hypotheses were investigated by disseminating questionnaire results from a number of individual Pakistani investors. Brokerage and asset management fund managers were also questioned in semi-structured interviews. The obtained data were analyzed using statistical package for the social sciences, and latent variables were identified using the structural equation model (SEM) and an asset management operating system (AMOS). Individual investor investment decisions in the PSX are influenced by five behavioral factors: herding, market, prospect, overconfidence and gambler fallacy and anchoring-ability bias. The majority of the variables have a modest impact; however, the market component has a significant impact. Only three behavioral elements, herding, prospect and heuristic, are found to influence investment performance among the behavioral factors stated above. Heuristic habits have been discovered to have the greatest positive impact on investment performance. This study is one of the few in Pakistan that looked at the factors that influence stock investment decisions using behavioral finance. Prior research has only considered the effects of a restricted number of behavioral characteristics on Pakistani individual investors; however, this study seeks to use a whole collection of behavioral factors to examine their impacts on Pakistani individual investors. The focus of the study remains on the individual investor, whereas the impact of institutional investors on investment behavior could bring different outcomes. This is among the few studies that investigated the impact of cognitive factors on investment decisions in the context of Pakistan and will help policy makers, opinion makers and individuals.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-01-21
      DOI: 10.1108/JEAS-05-2021-0100
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Dynamic inference of healthcare expenditure on economic growth in
           Sub-Saharan Africa: a dynamic heterogenous panel data analysis

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      Authors: Idris Abdullahi Abdulqadir , Bello Malam Sa'idu , Ibrahim Muhammad Adam , Fatima Binta Haruna , Mustapha Adamu Zubairu , Maimunatu Aboki
      Abstract: This article investigates the dynamic implication of healthcare expenditure on economic growth in the selected ten Sub-Saharan African countries over the period 2000–2018. The study methodology included dynamic heterogenous panel, using mean group and pooled mean group estimators. The investigation of the healthcare expenditure and economic growth nexus was achieved while controlling the effects of investment, savings, labor force and life expectancy via interaction terms. The results from linear healthcare expenditure have a significant positive impact on economic growth, while the nonlinear estimates through the interaction terms between healthcare expenditure and investment have a negative statistically significant impact on growth. The marginal effect of healthcare expenditure evaluated at the minimum and maximum level of investment is positive, suggesting the impact of health expenditure on growth does not vary with the level of investments. This result responds to the primary objective of the article. In policy terms, the impact of investment on healthcare is essential to addressing future health crises. The impact of coronavirus disease 2019 (COVID-19) can never be separated from the shortages or low prioritization of health against other sectors of the economy. The article also provides an insight to policymakers on the demand for policy reform that will boost and make the health sector attractive to both domestic and foreign direct investment. Given the vulnerability of SSA to the health crisis, there are limited studies to examine this phenomenon and first to address the needed investment priorities to the health sector infrastructure in SSA.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-01-18
      DOI: 10.1108/JEAS-03-2021-0049
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Governance quality and economic growth in Sub-Saharan Africa:
           the dynamic panel model

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      Authors: Amsalu Bedemo Beyene
      Abstract: The main objective of this article is to analyze the role of governance quality in influencing the economic growth of 22 selected Sub-Saharan African Countries. The study applied the panel dynamic Generalized Method of Moments (GMM) to analyze the data obtained from the World Bank database over the period from 2002 to 2020. The overall finding indicated that the composite governance index has a positive significant effect on the economic growth of the countries; where a unit improvement in the aggregate governance index leads to a 3.05% increase in GDP. The disaggregated result has shown that corruption control and government effectiveness have a negative significant effect on growth performance, whereas, the rule of law and regulatory quality showed a positive significant effect. Political stability and voice and accountability have an insignificant effect on economic growth. Due to data limitations, this study could not address the whole members of Sub Sahara African Countries and could not see the causal relationship. The study suggested a strong commitment to the implementation of policy and reform measures on all governance factors. This may add to the need to devise participatory corruption control mechanisms; to closely look at the proper implementation of policies and reforms that constitute the government effectiveness factors, and properly implement the rule of law at all levels of the government with a strong commitment to realizing it so that citizens at all levels can have full confidence in and abide by the rules of society. Even though there are some studies conducted using conventional methods of panel data analysis such as random effect or fixed effects, this empirical study used more advanced panel dynamic generalized moment of methods to examine the role of improvement in governance quality on economic growth.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-01-18
      DOI: 10.1108/JEAS-08-2021-0156
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Merton-type default risk and financial performance: the dynamic panel
           moderation of firm size

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      Authors: Muhammad Mushafiq , Syed Ahmad Sami , Muhammad Khalid Sohail , Muzammal Ilyas Sindhu
      Abstract: The main purpose of this study is to evaluate the probability of default and examine the relationship between default risk and financial performance, with dynamic panel moderation of firm size. This study utilizes a total of 1,500 firm-year observations from 2013 to 2018 using dynamic panel data approach of generalized method of moments to test the relationship between default risk and financial performance with the moderation effect of the firm size. This study establishes the findings that default risk significantly impacts the financial performance. The relationship between distance-to-default (DD) and financial performance is positive, which means the relationship of the independent and dependent variable is inverse. Moreover, this study finds that the firm size is a significant positive moderator between DD and financial performance. This study provides new and useful insight into the literature on the relationship between default risk and financial performance. The results of this study provide investors and businesses related to nonfinancial firms in the Pakistan Stock Exchange (PSX) with significant default risk's impact on performance. This study finds, on average, the default probability in KSE ALL indexed companies is 6.12%. The evidence of the default risk and financial performance on samples of nonfinancial firms has been minimal; mainly, it has been limited to the banking sector. Moreover, the existing studies have only catered the direct effect of only. This study fills that gap and evaluates this relationship in nonfinancial firms. This study also helps in the evaluation of Merton model's performance in the nonfinancial firms.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-01-17
      DOI: 10.1108/JEAS-09-2021-0181
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Intention to adopt cryptocurrency: a robust contribution of trust and the
           theory of planned behavior

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      Authors: Bahadur Ali Soomro , Naimatullah Shah , Nadia A. Abdelmegeed Abdelwahed
      Abstract: At present, the adoption of cryptocurrency investment has brought consideration to the globe. The present paper attempts to investigate the intention to adopt cryptocurrency (IACR) among the potential investors of Pakistan. The theory of planned behavior (TPB) is applied to underpin the conceptual framework. The study uses a quantitative approach. The study collects cross-sectional data through an online survey questionnaire. In the last, the authors utilized 334 samples for outcomes. Findings of the SEM reveal a significant positive effect of attitude, subjective norms (SNs), perceived behavioral control (PBC) and trust on IACR. The outcomes of an investigation would develop further intention and trust towards cryptocurrency adoption. The results would support developing favorable policies regarding the reduction of the ban on cryptocurrency in Pakistan to make easier transactions of the investors further. Possibly, it brings several opportunities in all segments of society in making the digital transaction modes through cryptocurrency. Finally, the findings would further validate the TPB in the context of cryptocurrency. The study provides a better understanding of cryptocurrency and investors IACR. The empirical evidence further develops the other individuals' intentions towards cryptocurrency usage.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-01-17
      DOI: 10.1108/JEAS-10-2021-0204
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • MFS usage intention during COVID-19 and beyond: an integration of health
           belief and expectation confirmation model

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      Authors: Farjana Nur Saima , Md. H. Asibur Rahman , Ratan Ghosh
      Abstract: The usage rate of mobile financial services (MFS) has shown an uptick since the emergence of the COVID-19 pandemic in Bangladesh. This study aims to reveal the underpinning reasons for such MFS surge and its continuance by integrating health belief model (HBM) and expectation confirmation model (ECM). The study analyzes 529 MFS users' responses during the second wave of the COVID-19 outbreak in Bangladesh using the partial least square method. Satisfaction is more predictive than perceived usefulness in explaining continuance usage intention. Expectation confirmation also indirectly affects continuance intention. Among the HBM constructs, the indirect effect of perceived severity on continuance intention via perceived usefulness and satisfaction is significant. Besides, the impact of self-efficacy on continuance intention is also significant. Moreover, perceived credibility significantly affects satisfaction and indirectly affected continuance usage intention via satisfaction. The study projects boosting customers' satisfaction is critical for the successful retention of existing MFS customers. MFS service providers should emphasize the factors that amplify satisfaction. They must evaluate preadoption factors so that customers can have positive confirmation. Especially, the service providers, the policymakers and the regulators should take an active role in improving the users' self-efficacy and the system's credibility. Undertaking the MFS literacy program, installing hotline service to provide emergency help will boost users' confidence in using the system. The study is a unique contribution in the context of Bangladesh. To the best of the authors’ knowledge, no previous MFS studies in Bangladesh explored MFS continuance usage intention during COVID-19 and beyond. Besides, the inclusion of “perceived credibility” in the framework will supplement the earlier studies conducted on this aspect.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-01-14
      DOI: 10.1108/JEAS-07-2021-0133
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Impact of cryptos on the inflation volatility in India: an application of
           bivariate BEKK-GARCH models

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      Authors: Shailesh Rastogi , Jagjeevan Kanoujiya
      Abstract: The main aim of the study is to explore the volatility spillover effect of cryptocurrencies (Bitcoin, Ethereum and Litecoin) on inflation volatility in India. A popular tool, the Bivariate GARCH model (BEKK-GARCH), to study the volatility spillover effect, is applied in the study. Monthly data of cryptocurrencies and inflation (WPI and CPI indices) are gathered from 2015 to 2021. Significant short-term responsiveness of volatility of cryptocurrencies on the inflation volatility is found. In addition to this, the significant volatility spillover effect from the cryptocurrencies to the inflation volatility is found. The findings of the current paper can be of use for inflation management, target inflation policies and policies to contain the volatility of cryptocurrencies. The significance of the current paper is relevant as governments worldwide are officially recognizing cryptocurrencies and starting the process of launching their official virtual currency. No other study is observed on the topic. Hence, the contribution and novelty of the findings of the current paper are very high and add value to the nonexistent literature on the topic. Lack of the number of inflation observations (data of CPI and WPI are available only in monthly frequency) crimps the model estimation. As the cryptocurrencies become old, more data points will be available by design, and such problems can be resolved, and better model estimation may be possible.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-01-14
      DOI: 10.1108/JEAS-08-2021-0167
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Agency issues in franchising electricity distribution companies:
           inter-organizational and multi-level study

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      Authors: Mrigakshi Das
      Abstract: Management of power distribution companies (discoms) in India has been historically criticized on the ground of inefficient management. Inefficiency in operations triggered management by private franchisees for promotion of managerial and technical expertise. However, franchise contracts have achieved mixed outcomes despite the business model being a decade old in the Indian power distribution sector. Therefore, this study sheds light on the drivers of discoms (principal) with the franchisees (agent) for the achievement of the common performance goals, highlighting the agency issues at multiple levels across the organizational hierarchies. The study seeks to acknowledge the commonalities and differences between and across varying levels. A qualitative embedded single case study was conducted in an Indian state, namely Odisha. The study was built on archival analysis, personal observations and semi-structured interviews with the franchisors and franchisee officials across the organization's hierarchical levels. A conceptual model based on the review of prior literature formed the set of coding and presentation for the study. The study provides insights on factors that play a role in effective power distribution management, operational efficiency and improved financial performance through the partnership of the principal and the agent. The study is predominantly dependent upon interviews. This paved the way for the limitation of human biases. Additionally, deep insights were drawn from a single case study of a discom's decision to hire franchisees. However, this was at the cost of the number of organizations interviewed. The findings of the study could be built across other areas or nations. There is adequate literature on franchising as a business model. However, literature is lacking in highlighting the commonalities and differences between different contracting parties and their impact on the performance of the contract. Additionally, there is a dearth of literature on franchising in the power distribution sector. Therefore, studying the model from multiple perspectives would contribute to the literature on the power sector and franchising.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-01-13
      DOI: 10.1108/JEAS-06-2021-0115
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Socioeconomic analysis of infectious diseases based on different scenarios
           

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      Authors: Zeinab Rahimi Rise , Mohammad Mahdi Ershadi
      Abstract: This paper aims to analyze the socioeconomic impacts of infectious diseases based on uncertain behaviors of social and effective subsystems in the countries. The economic impacts of infectious diseases in comparison with predicted gross domestic product (GDP) in future years could be beneficial for this aim along with predicted social impacts of infectious diseases in countries. The proposed uncertain SEIAR (susceptible, exposed, infectious, asymptomatic and removed) model evaluates the impacts of variables on different trends using scenario base analysis. This model considers different subsystems including healthcare systems, transportation, contacts and capacities of food and pharmaceutical networks for sensitivity analysis. Besides, an adaptive neuro-fuzzy inference system (ANFIS) is designed to predict the GDP of countries and determine the economic impacts of infectious diseases. These proposed models can predict the future socioeconomic trends of infectious diseases in each country based on the available information to guide the decisions of government planners and policymakers. The proposed uncertain SEIAR model predicts social impacts according to uncertain parameters and different coefficients appropriate to the scenarios. It analyzes the sensitivity and the effects of various parameters. A case study is designed in this paper about COVID-19 in a country. Its results show that the effect of transportation on COVID-19 is most sensitive and the contacts have a significant effect on infection. Besides, the future annual costs of COVID-19 are evaluated in different situations. Private transportation, contact behaviors and public transportation have significant impacts on infection, especially in the determined case study, due to its circumstance. Therefore, it is necessary to consider changes in society using flexible behaviors and laws based on the latest status in facing the COVID-19 epidemic. The proposed methods can be applied to conduct infectious diseases impacts analysis. In this paper, a proposed uncertain SEIAR system dynamics model, related sensitivity analysis and ANFIS model are utilized to support different programs regarding policymaking and economic issues to face infectious diseases. The results could support the analysis of sensitivities, policies and economic activities. A new system dynamics model is proposed in this paper based on an uncertain SEIAR model (Susceptible, Exposed, Infectious, Asymptomatic, and Removed) to model population behaviors;Different subsystems including healthcare systems, transportation, contacts, and capacities of food and pharmaceutical networks are defined in the proposed system dynamics model to find related sensitivities;Different scenarios are analyzed using the proposed system dynamics model to predict the effects of policies and related costs. The results guide lawmakers and governments' actions for future years;An adaptive neuro-fuzzy inference system (ANFIS) is designed to estimate the gross domestic product (GDP) in future years and analyze effects of COVID-19 based on them;A real case study is considered to evaluate the performances of the proposed models.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-01-13
      DOI: 10.1108/JEAS-07-2021-0124
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Volatility spillovers among G7, E7 stock markets and
           cryptocurrencies

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      Authors: Berna Aydoğan , Gülin Vardar , Caner Taçoğlu
      Abstract: The existence of long memory and persistent volatility characteristics of cryptocurrencies justifies the investigation of return and volatility/shock spillovers between traditional financial market asset classes and cryptocurrencies. The purpose of this paper is to investigate the dynamic relationship between the cryptocurrencies, namely Bitcoin and Ethereum, and stock market indices of G7 and E7 countries to analyze the return and volatility spillover patterns among these markets by means of multivariate (MGARCH) approach. Applying the newly developed VAR-GARCH-in mean framework with the BEKK representation, the empirical results reveal that there exists an evidence of mean and volatility spillover effects among Bitcoin and Ethereum as the proxies for the cryptocurrencies, and stock markets reviewed. Interestingly, the direction of the return and volatility spillover effects is unidirectional in most E7 countries, but bidirectional relationship was found in most G7 countries. This can be explained as the presence of a strong return and volatility interaction among G7 stock markets and crypto market. Overall, the results of this study are of particular interest for portfolio management since it provides insights for financial market participants to make better portfolio allocation decisions. It is also increasingly important to understand the volatility transmission mechanism across these markets to provide policymakers and regulatory bodies with guidance to eliminate the negative impact of cryptocurrency's volatility on the stability of financial markets.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-01-11
      DOI: 10.1108/JEAS-09-2021-0190
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Effects of other comprehensive income on audit fees and audit report lag
           in Egyptian firms: does board gender diversity matter'

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      Authors: Tariq H. Ismail , Karim Mansour , Emad Sayed
      Abstract: This paper aims to (1) investigate the effect of other comprehensive income (OCI) on audit fees (AF) and audit report lag (ARL) and (2) test the moderating effect of board gender diversity (BGD) on such relationships. This paper uses data extracted from the financial reports for a sample of Egyptian firms from 2013 to 2019, where the data are processed using the Panel Corrected Standards Errors (PCSE) and the Structure Equation Model (SEM). The results reveal that (1) the OCI existence and OCI volume have a significant positive effect on AF and ARL, and (2) the presence of female directors on the board and the percentage of female representation affect the relationship between OCI and AF positively, but this effect on the relationship between OCI and ARL is insignificant. This paper has some limitations, where the analysis uses a small sample of Egyptian listed firms, as well as, the measures that were used as proxies of the study variables, which do not necessarily express the most suitable ones. The results of this paper would (1) provide signals to the audit market, the professional bodies in Egypt and stakeholders about the determinants of AF and ARL, (2) provide guidelines that support the capital market authority to consider gender diversity in boards of companies taking into considerations its impact on AF and ARL, and (3) help the accounting setters in emerging economies as Egypt in drafting more suitable standards and guidelines regarding OCI. This paper adds to the literature on OCI, where it investigates the effect of OCI on ARL, which was not yet studied in prior studies. Also, this paper complements and extends the literature by providing empirical evidence from one of the emerging markets as Egypt about the effect of BGD on the relationships between OCI, AF and ARL, as these relationships have not been examined before.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-01-10
      DOI: 10.1108/JEAS-10-2021-0201
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Modeling the volatility of exchange rate and international trade
           in Ghana: empirical evidence from GARCH and EGARCH

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      Authors: Abdul-Razak Bawa Yussif , Stephen Taiwo Onifade , Ahmet Ay , Murat Canitez , Festus Victor Bekun
      Abstract: The volatility of exchange rate has generally been sighted as a primary cause for various shocks and instability in international trade of Ghana as witnessed over the years and most especially in recent times. Hence, owing to the increasing trade levels between Ghana and Ghana's global trading partners, the study aims to investigate if the trade–exchange rate volatility nexus in Ghana supports the positive, negative or ambiguous hypotheses' The study investigates the effects of Ghana's exchange rate volatility on international trade by designing import and export equations to estimate both short- and long-run specifications of the effect and employing the multivariate generalized autoregressive conditional heteroskedasticity (GARCH) with Baba, Engle, Kraft and Kroner (BEKK) specification developed by Engle and Kroner (1995) as a further check for the robustness of the findings. Monthly data between 1993 and 2017 on the real effective exchange rates of Ghana's trade with 143 trading partners were taken as the series for modeling the volatility using GARCH andexponential generalized autoregressive conditional heteroskedastic (EGARCH) models. The empirical results show that the volatility of exchange rate negatively impact export performances in the Ghanian economy. On the other hand, there was no sufficient evidence to support the observed positive effect of exchange rate volatility on imports, as the effects were only significant at 10% level in the long run. Thus, it is concluded that the finding cannot confirm a relationship between volatility and import. Thus, the results present differences in the direction of the effect of exchange rate volatility on imports and exports in the context of the Ghanaian economy. Considering the fragility of the Ghanaian economy and Ghana's macro-economic indicators, the study points at the crucial need for more integration of well-informed trade policies within the country's macro-economic policy framework to contain the impacts of exchange rate volatility on trade performances. The study contributes to literature by scope and method. More specifically, empirical studies have failed or provided little evidence uniquely on the Ghanaian economy's reaction to exchange rate volatility on the country's imports and exports. Additionally, most of the existing empirical studies measure exchange rate volatility using the standard deviation of the moving averages of the logarithmic transformation of exchange rates. This method is criticized because the method is unsuccessful in capturing the effects of potential booms and bursts of the exchange rate. The authors' study circumvents for these highlighted pitfalls. The study contributes to literature by scope and method. More specifically, empirical studies have failed or provided little evidence uniquely on the Ghanaian economy's reaction to exchange rate volatility on the country's imports and exports. Thus, the study chat a course for socio-economic dynamic of Ghanaian economy. The study contributes to literature by its scope and method, as extant empirical studies have provided little evidence specifically on the Ghanaian economy's reaction to exchange rate volatility. Additionally, most of the existing empirical studies measure exchange rate volatility using the standard deviation of the moving averages of the logarithmic transformation of exchange rates. This method is criticized because of the method's inadequacies in capturing the effects of potential booms and bursts of the exchange rate. The study thereby essentially circumvents for these highlighted pitfalls.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2022-01-04
      DOI: 10.1108/JEAS-11-2020-0187
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • COVID-19 complications and economic recovery of China: guidelines for
           other economies

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      Authors: Bahadur Ali Soomro, Shah Nawaz Mangi, Naimatullah Shah
      Abstract: Coronavirus (COVID-19) brought massive economic damage throughout the globe. Economic as well as social set-ups have enormously collapsed. The present paper underlines some economic complications of China during COVID-19. The study also sheds light on initiatives taken by the government of China to fight against such a damaging pandemic. The study employed secondary research or desk research that involves existing data. The data were collected from reliable sources, described below. The data were summarized and organized to increase the overall efficacy and reliability of the research. The study finds that China has confronted many downturns in export and import, GDP decline, blockage of markets and production evaluation. To recover from these unfavorable and adverse circumstances, China has recovered its economy by introducing digital transformation, effective legislations, A V-shaped recovery and A U-shaped recovery in manufacturing and services. China's steps and initiatives to invigorate economic developments during a pandemic would be beneficial for other economies facing the severe challenges of economic development, especially after COVID-19. The present study is one of the rare studies of the domain that offers the guidelines to the policymakers and economists of developing countries to develop their policies regarding the digital economy to face the traditional market's challenges.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-07-05
      DOI: 10.1108/JEAS-01-2021-0008
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Does governance quality matter for the development of financial
           institutions in Pakistan'

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      Authors: Muhammad Ahad, Zulfiqar Ali Imran
      Abstract: Governance quality has been a dominant factor to formulate policies for the development of financial institutions in the world. Therefore, this study aims to explore the impact of governance quality on financial institutions along with globalization in the case of Pakistan. Time series data from 1996 to 2018 are considered for analysis. The NG-Perron is applied to check the order of integration. In addition, Kim and Perron (2009) structural break unit root test is used to identify break years. The autoregressive distributive lags (ARDL) bound testing approach is used to detect the long-run association among governance quality, financial institutions and globalization. The results of unit root analysis show that all series are stationary at a different level of integration, I(0)/I(1). However, the long-run association is detected in the presence of break years. The authors find a positive impact of governance quality to determine financial institutions in the long-short-run. Similarly, globalization also enhances financial institutions but only in long run. This study fills the gap in the economic literature by exploring the linkages between the financial institution and disaggregated governance indicators in the case of Pakistan. Moreover, a role of structural break is also captured during analysis. This study also opens some new insights for policymaking.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-07-05
      DOI: 10.1108/JEAS-03-2021-0061
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Examining the relationship between total quality management and knowledge
           management and their impact on organizational performance: a dimensional
           analysis

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      Authors: Jawad Abbas, Kalpina Kumari
      Abstract: The current study probes the multi-dimensional link between total quality management (TQM) and knowledge management (KM) and investigates how different TQM's dimensions impacts KM processes and how this nexus impacts organizational performance (operational and financial performance) by considering KM as an intermediating variable between TQM and organizational performance. Six TQM practices are taken from “Malcolm Baldrige National Quality Award”, namely leadership, customer focus, strategic planning, human resource management, process management and information and analysis; KM processes include knowledge creation, acquisition, sharing and application and organizational performance comprises operational and financial performance. The researcher put together data from different sized services and manufacturing firms, from small, to medium and large firms located in the United Kingdom (UK). The results suggested that a positive correlation existed between TQM, KM and organizational performance. KM is also shown to have quite a strong and positive influence on firm operational and financial performance and partially mediates the relationship between TQM and corporate performance. Dimensional analysis indicates that leadership, strategic planning, customer focus and HRM have a significant positive impact on all KM process, while mixed results have been found for process management and information and analysis. The contextual analysis indicates that except for knowledge creation, TQM plays an equally significant role for the majority of manufacturing establishments and services firms. The present research makes a significant contribution to the scarce literature on the relationship between TQM and KM (mainly at dimensional level), particularly in the context of the UK, and provides a detailed understanding of the relations between different TQM and KM dimensions, and how their relationship impacts on the operational and financial performance of different sizes of manufacturing and services firms. HighlightsTotal quality management (TQM) enhances firms' knowledge management (KM) capabilitiesKM partially mediates the relationship between TQM and firms' performanceLeadership, customer focus and process management indicated insignificant impact on knowledge creationTQM and KM are equally important for all sizes manufacturing and services firms
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-07-02
      DOI: 10.1108/JEAS-03-2021-0046
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Does economic growth affect the relationship between banks' capital,
           liquidity and profitability: empirical evidence from emerging economies

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      Authors: Faisal Abbas, Shoaib Ali, Maqsood Ahmad
      Abstract: This research explores the role of economic growth to influence the inter-relationship between capital, liquidity and profitability of commercial banks in selected asian emerging economies. To achieve the research purpose, an empirical model was constructed to examine the role of economic growth in the inter-relationship between banks' capital, liquidity and profitability. The empirical model was tested through two stage lease square (2SLS) regression analysis using annual data of Asian commercial banks ranges from 2011 to 2019. The findings indicate that bank capital and liquidity are interdependent and determined simultaneously. The outcome demonstrates that the strength of the inter-relationship between banks' capital, liquidity, and profitability improves when economic growth is taken into account in the analysis. The results report that market funding, loan ratio, credit risk, bank size and bank efficiency are significant indicators to influence commercial banks' liquidity, profitability and capital in Asian emerging economies. The findings are heterogeneous across large, medium and small-sized banks in emerging economies of Asia. The results highlight that the model provides robust results with respect to sign and significance. However, the coefficient remains underestimated without incorporating economic growth, which has important implications for decision-makers and bankers. To the best of authors’ knowledge, this is the first study that examines the role of economic growth to influence the inter-relationship between capital, liquidity and bank profitability in the emerging economies of Asia.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-07-02
      DOI: 10.1108/JEAS-03-2021-0056
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • User engagement and self-disclosure on Snapchat and Instagram: the
           mediating effects of social media addiction and fear of missing out

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      Authors: Abdullah J. Sultan
      Abstract: The present research examines self-disclosure as a negative behavior arising from excessive engagement on social media as well as social media addiction and fear of missing out. A convenience sample of 2,333 Snapchat and Instagram users in Kuwait collected using a snowball sampling procedure was utilized to validate the research model and test the proposed relationships using two-stage structural equation modeling. A multigroup confirmatory factor analysis across Snapchat and Instagram users showed that the measurement invariance was statistically nonsignificant. In addition, path analysis confirmed both a significant direct relationship between user engagement and self-disclosure and indirect relationships through social media addiction and fear of missing out as mediators. Ethicists and consumer protection agencies must increase public awareness about the danger of overdisclosure of personal information on social media. The desire to be popular like fashionistas and influencers has pushed some young users to expose themselves to the public at extreme levels. Serious steps must be taken to educate young users about the negative consequences of self-disclosure on social media and healthy ways to capitalize their social presence on social media. This study focuses on Snapchat and Instagram as underexplored social media applications with excessive engagement and potentially negative consequences on society.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-06-30
      DOI: 10.1108/JEAS-11-2020-0197
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Bank earnings management using loan loss provisions: comparing the UK,
           France, South Africa and Egypt

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      Authors: Peterson K. Ozili
      Abstract: This paper aims to investigate bank earnings management using loan loss provision. The paper examines income smoothing, which is a type of earnings management. It compares the income smoothing behaviour of banks in the UK, France, South Africa and Egypt. The study uses the panel fixed effect regression methodology to analyse bank income smoothing. The findings show that bank income smoothing is present in the UK and Egypt and absent in France and South Africa. Banks in Egypt used LLPs to smooth income before the global financial crisis. Meanwhile, bank income smoothing is pronounced in France during and after the financial crisis but was absent in the pre-crisis period. Also, bank income smoothing is reduced in countries that (1) have strict banking supervision, (2) adopt common law particularly the United Kingdom, and by countries that adopt civil law, particularly France and Egypt. Bank earnings management is greater in countries that (3) adopt a mixed legal system, particularly South Africa, and in countries that adopt International Financial Reporting Standards accounting standards. The implication of the findings is that country differences may affect banks' incentive to smooth income using loan loss provision. The novelty of this paper is that it explicitly analyses specific countries that have different supervisory regimes, different structure and accounting rules.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-06-29
      DOI: 10.1108/JEAS-02-2021-0024
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Does bank affiliation affect firm capital structure' Evidence from a
           financial crisis

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      Authors: Qamar Uz Zaman, Waheed Akhter, Mariani Abdul-Majid, S. Iftikhar Ul Hassan, Muhammad Fahad Anwar
      Abstract: This study aims to assess the determinants of corporate debt with a particular focus on bank-affiliated and non-bank-affiliated firms during the global financial crisis. The authors analyse the data of 395 listed manufacturing firms from Pakistan with 2,370 firm-year observations. The sample is divided into subsamples, namely bank-affiliated, non-bank-affiliated and stand-alone firms. Fixed and panel effect regression models are applied to determine the during, pre-crisis and post-crisis effects on corporate capital structure. The robust results of the study reveal that non-bank-affiliated firms have different leverage determinant behaviours with a greater reliance on size, tangibility and profitability. However, bank-affiliated firms seemed to show greater immunity from a crisis compared to other firms. Simultaneously, the stand-alone firms remained at a disadvantage subject to internal financial ties of group-affiliated firms and form a base of market imperfection. This study's findings imply that financial managers should contain better ties with financial institutions to enhance financial immunity in worse time of financial crisis or COVID-19 global calamity. On the regulation front, these findings call for critical policy regulations to govern the internal ties with financial institutions to create a level playing field for the corporate sector. To the best of the authors’ knowledge, this study is the first to investigate determinants of corporate debt with a particular focus on bank-affiliated and non-bank-affiliated firms. This work is also novel to explore corporate debt of bank-affiliated and non-bank-affiliated firms during the financial crisis.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-06-28
      DOI: 10.1108/JEAS-11-2020-0193
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • The mediating role of job satisfaction in the relationship between
           leadership styles and employee commitment

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      Authors: T. S. Nanjundeswaraswamy
      Abstract: The aim of this study is to identify the association between leadership styles (LS) and employee commitment(EC) among employees working in the mechanical manufacturing small- and medium-sized enterprises (SMEs), mediated by job satisfaction. The research is cross-sectional and the survey method was used, and Pearson correlation analyses, regression analysis and structural equation modelling (SEM) were used to examine the hypothesis. A sample of 911 responses was collected from 102 mechanical manufacturing SMEs in and around Bangalore, India. EC depends on the age, the experience of employees, LS of the superior and job satisfaction of employees who are working in the mechanical manufacturing SMEs. The research found out that job satisfaction partially mediates the relationship between LS and EC. The study is cross-sectional in nature; it measures and quantifies the different variables at a single point period; therefore, the research does not offer outcomes over a long period. To enhance the commitment of employees working in the mechanical manufacturing SMEs, managers/superiors should make an effort to exhibit a holistic view of LS that enhances job satisfaction and improves the pleasant relationship in the work environment. In the competitive business environment retaining skilled and talented employees is the major challenge for the organization. Many research studies explored that committed employees will retain in the organization for a long tenure. Thus, our study contributes to the body of the literature on predictors of EC. It is noted that the involvement of employees by the leaders during the decision-making process, creates an effective working ambience for the employees and establishes a pleasant relationship among employees. The leader will motivate the employees to work efficiently and effectively, in addition to that they motivate employees to continue working with the same organization. Hence there is a need for the mechanical manufacturing firms to design and implement strategies of motivating employees to remain in the organization. Our study was cross-sectional in nature; it measures and quantifies the different variables at a single point period; therefore, research does not offer outcomes over a long period. Hence a longitudinal study over some time gives more accurate outcomes, and it is more appropriate. This study focused on employees working in the mechanical manufacturing firms, in and around Bangalore, India; therefore, findings cannot be generalized to all employees of the mechanical manufacturing firms. This research contributes to the existing literature by exploring further evidence and support for the relationship between LS and EC in mechanical manufacturing SMEs. And research also reveals that job satisfaction partially mediates the relationship between the LS and EC in mechanical manufacturing SMEs.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-06-22
      DOI: 10.1108/JEAS-02-2021-0029
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Integration and volatility spillover amongst banks: a cross-correlation
           analysis

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      Authors: Mobeen Ur Rehman, Xuan Vinh Vo
      Abstract: The rising interconnectedness between international banks, at one end, allow participants to share risk and diversification which leads to stable local lending and increase in competitiveness, however, at the other end poses potential for volatility spillover and thereby contagion phenomena. Therefore, investigating the presence of co-integration amongst international banks can provide useful information about risk spillover in times of financial turbulence The authors employ wavelet correlation and wavelet multiple cross-correlation strategies, following an initial decomposition of returns series through maximal overlap discrete wavelet transformation (MODWT). The results indicate high integration level between Citibank and Deutsche Bank whereas potential of diversification exists between pairs of Citibank–Hong Kong and Shanghai Banking Corporation and Bank of America–Deutsche Bank, with former more evident in short- and medium-term relationship and later in long-run investment horizon. This paper carries implications for investors, fund managers and policymakers in foreseeing the prospects of contagion attributable to high level integration levels. Implications for cross-border banking integration includes the presence of common lender effect which appears as a dominant factor for cross-border contagion. Therefore, banks based in different countries should focus more on funds diversification rather than borrowing much from any single creditor. Furthermore, foreign operations based on subsidiaries instead of relying on direct cross-border lending can help in reducing volatility of the foreign financial resources. Nevertheless, based on the results and significant strand of existing literature, the presence of contagion is inevitable, and therefore, a careful consideration of cross-border banking supervision and co-operation by the financial authorities can help in mitigating the volatility of global capital flows. First, this study fills gap in the existing literature regarding the discussion on portfolio diversification opportunities in the banking sector. The banking sector is usually perceived as a main source of fixed income securities or financing; however, on the contrary, investors may also be interested for investments in publicly listed bank's stock. Most of the work regarding portfolio diversification revolves around capital market instruments; however, publicly listed shares of largest bank also present an avenue for diversification. Second, major fundamentals and the associated factor for banks performance are reflected in the its profits, either these profits result from large customer base or proper allocation of bank's assets, etc. Therefore, returns of these banks serve as a barometer for their performance and co-movement between any two banks can highlight the presence and extent of their underlying association. Third, the authors apply the latest extensions in wavelet techniques after decomposing returns series through the MODWT framework. This decomposition followed by wavelet estimations allow us to investigate banks integration level across different time and frequency space thereby carrying implications for both short- and long-run investors. Fourth, by analysing the presence of returns co-movements, the authors can predict the extent of plausible contagion since the recent global financial crisis of 2008–2009 used banks as the main medium of propagation of shocks. Fifth, the work presents many implications for the investment community, major trading partners associated with banks through different instruments and for policymakers so that the effect of contagion can be anticipated or at least mitigated in case of future financial turbulence. HighlightsWe investigate portfolio diversification opportunities in the banking sector.Time-frequency returns co-movements is measures by applying wavelet multiple correlation and cross-correlation techniques on decomposed return series.Deutsche Bank and Bank of America act as highest transmitter and recipient of volatility, respectively using the spillover approach of Diebold and Yilmaz (2012).Citibank and Deutsche Bank exhibit high pairwise correlation indicating no diversification benefits.Citibank exhibits high level of integration with other banks in the short- and medium-run whereas Deutsche Bank exercises high integration levels in the long-run investment period.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-06-22
      DOI: 10.1108/JEAS-07-2020-0136
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Public debt, corruption and shadow economy in Africa: an empirical
           analysis

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      Authors: Victor Owusu-Nantwi, Gloria Owusu-Nantwi
      Abstract: The purpose of this paper is to examine the effect of corruption and shadow economy on public debt in 51 African countries. In addition, the study explores the causal linkage between corruption, shadow economy and public debt. The study employs vector error correction model and Kao cointegration test to examine the long-run relationship between corruption, shadow economy and public debt in Africa. The study finds a positive and statistically significant relationship between corruption and public debt. Further, the study reports a positive and statistically significant effect of shadow economy on public debt. In the short run, the study finds a unidirectional causal relationship between corruption, shadow economy and public debt with the direction of causality running from corruption and shadow economy to public debt, respectively. This study recommends that countries should pursue policies and programs that would provide resources to agencies tasked with the responsibility of fighting corruption. This would ensure that countries have effective institutions that curb vulnerabilities to corruption and reduce the size of the shadow economy and public debt. This study contributes to the literature by showing how corruption and shadow economy affects public debts of African countries. To the best of the author's knowledge, this is the first attempt to examine this relationship in the context of Africa.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-06-22
      DOI: 10.1108/JEAS-08-2020-0150
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Dynamic inter-linkage between foreign aid and economic growth in Sri Lanka

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      Authors: Ahamed Lebbe Mohamed Aslam, Sabraz Nawaz Samsudeen
      Abstract: The objective of this study is to explore the dynamic inter-linkage between foreign aid and economic growth in Sri Lanka over the period of 1960–2018. Both exploratory and inferential data analysis tools have been employed to examine the objective of this study. The exploratory data analysis covered the scatter plots, confidence ellipse with kernel fit. The inferential data analysis included the augmented Dickey–Fuller (ADF) and Phillips–Perron (PP) unit root tests, the autoregressive distributed lag (ARDL) Bounds co-integration technique and the Granger causality test. The test result of exploratory data analysis indicates that there is a positive relationship between foreign aid and economic growth. The ADF and PP unit root tests results indicate that the variables used in this study are stationary at their 1st difference. The co-integration test result confirms the presence of long-run relationship between foreign aid and economic growth in Sri Lanka. The estimated coefficient of foreign aid in the long-run and the short-run shows that foreign aid has a positive relationship with economic growth in Sri Lanka. The estimated coefficient of error correction term indicates that approximately 26.6% of errors are adjusted each year and further shows that the response variable of economic growth moves towards the long-run equilibrium path. The Granger causality test result shows that foreign aid in short-run Granger causes economic growth in Sri Lanka which means that one-way causality from foreign aid to economic growth is confirmed. Further, the estimated coefficient of error correction term confirms that there is the long-run Granger causal relationship between foreign aid and economic growth in Sri Lanka. The findings of this study have some important policy implications for the design of efficient policy related to foreign aid and economic growth, the knowledge of which will help follow sustainable foreign aid and growth nexus. This study contributes to the existing literature by using the newly introduced ARDL Bounds cointegration technique to investigate the dynamic inter-linkage between foreign aid and economic growth in Sri Lanka.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-06-22
      DOI: 10.1108/JEAS-12-2020-0203
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Technological development, financial development, and economic growth in
           India: Is there a non-linear and asymmetric relationship'

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      Authors: Arun Kumar Giri, Geetilaxmi Mohapatra, Byomakesh Debata
      Abstract: The main purpose of the present research is to analyze the relationship between technological development, financial development and economic growth in India in a non-linear and asymmetric framework. The study employs the nonlinear autoregressive distributed lags model (NARDL) and Hetemi J asymmetric causality tests to explore nonlinearities in the dynamic interaction among the variables. The stationarity properties of data are checked by using Ng–Perron and ADF structural break unit root tests. The unit root test confirms that the variables are non-stationarity in level and are differenced stationary. The study finds that there is a cointegrating relationship between technological development, financial development and economic growth in the long run. The findings suggest that a positive shock in technological development increases economic growth (coefficient value 1.497 at 1% significance level) and a negative shock will harm economic performance (coefficient value −0.519 at 1% significance level). A long-term positives shock in financial development boosts the economy (coefficient value 1.08 at 5% significance level) and negative shock hampers the economic performance (coefficient value −1.09 at 5% significance level). The asymmetric causality test result confirms bi-directional causality between technological development and economic growth and unidirectional causality from negative economic growth to negative technological development and bi-directional causality between economic growth and financial development, unidirectional negative financial development to economic growth. The results of this research can significantly facilitate stakeholders and policymakers in devising short-term as well as long-term policies for financial development and technological innovation to achieve sustainable long-run economic growth in India. This paper is the first of its kind to empirically examine the cointegrating and causal relationship between technology, financial development and economic growth in India using non-linear asymmetric cointegration and causality tests.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-06-21
      DOI: 10.1108/JEAS-03-2021-0060
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Money at risk: climate change and performance of Canadian banking sector

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      Authors: Salah U-Din, Mian Sajid Nazir, Aamer Shahzad
      Abstract: In the last few decades, the frequency and intensity of extreme weather events have increased in most parts of the world including Canada because of global warming. The global warming in Canada is about double the magnitude of global warming; therefore, policymakers are concerned about the potential significant impact of the weather catastrophes on the economy and financial sector. The purpose of this study is to explore the impact of weather catastrophes on the Canadian banking sector. Using a sample of banking firms from Canada over the period 1988–2019, the present study estimates different econometric techniques to investigate the impact of weather catastrophes on the risk and performance of Canadian banks. Analyses of the study do not find a significant impact of the weather catastrophes on the performance of the Canadian banks; however, it has helped banks to lower their risk level and improve stability due to proactive risk management. The findings of this study are not consistent with concerns of the policymakers about climate risk to the Canadian bank sector. More sector-specific research and policy initiatives are recommended to minimize the future financial risk of the increased frequency and intensity of natural disasters. The study contributes to support the notion that the climate risk of banks is protected with insurance and reconstruction activities provide more banking opportunities.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-06-17
      DOI: 10.1108/JEAS-02-2021-0033
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • The mobile phone in governance for environmental sustainability in
           Sub-Saharan Africa

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      Authors: Simplice Asongu, Rexon Nting
      Abstract: In this study, we assess how the mobile phone can be leveraged upon to improve the role of governance in environmental sustainability in 44 Sub-Saharan African countries. The Generalised Method of Moments is used to establish policy thresholds. A threshold is a critical mass or level of mobile phone penetration at which the net effect of governance on carbon dioxide (CO2) emissions changes from positive to negative. Mobile phone penetration thresholds associated with negative conditional effects are: 36 (per 100 people) for political stability/no violence; 130 (per 100 people) for regulation quality; 146.66 (per 100 people) for government effectiveness; 65 (per 100 people) for corruption-control and 130 (per 100 people) for the rule of law. Practical and theoretical implications are discussed. The study provides thresholds of mobile phone penetration that are critical in complementing governance dynamics to reduce CO2 emissions.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-06-15
      DOI: 10.1108/JEAS-01-2021-0001
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • The role of inventories for the propagation of aggregate fluctuations:
           lessons for Bulgaria (1999–2019)

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      Authors: Aleksandar Vasilev
      Abstract: In this study, inventories are introduced as a productive input into a real-business-cycle (RBC) setup augmented with the government. The model is calibrated to Bulgarian data for the period 1999–2019. The quantitative importance of the presence of inventories is investigated. The quantitative effect of inventories is found to be important: decreasing consumption volatility and increasing employment variability. Those results, however, are at the expense of decreasing wage volatility and increasing investment volatility, and generally worsening the contemporaneous correlations of the main variables with output. Fluctuations in inventory levels matter for business cycle fluctuations in Bulgaria, which is a novel result. Still, there is a need for more research on the incorporation of inventories into RBC models to better fit the Bulgarian experience.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-06-15
      DOI: 10.1108/JEAS-11-2020-0195
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Corporate sustainability performance in the emerging market of Turkey: the
           role of accounting information quality and firm risk

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      Authors: Ismail Kalash
      Abstract: The purpose of this study is to investigate the effect of accounting information quality (AIQ) and firm risk on the corporate sustainability performance (CSP) of Turkish listed firms. This study used data of 70 firms listed on Istanbul Stock Exchange during the period 2014–2019. Binary and ordinal logistic regression models are used to examine the factors affecting CSP as proxied by the membership to BIST Sustainability Index. The results of this research indicate that AIQ is negatively related to CSP in firms with severe agency problem. The results also show a significant negative relationship between accounting earnings volatility and CSP. However, the effect of stock return volatility on CSP is not significant. Furthermore, the findings reveal that the possibility of being a member of Turkish sustainability index is higher for larger firms, firms that are included in BIST Corporate Governance Index and firms with high leverage, more research and development (R&D) intensity and high brand value. The results of this study provide implications for policymakers, investors and firms about the role of firm characteristics in determining CSP. To the author's knowledge, this study is the first to explore the effect of AIQ and firm risk on CSP in the Turkish context.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-06-15
      DOI: 10.1108/JEAS-12-2020-0201
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • The structure of automotive nostalgia: a hedonic price analysis of classic
           car model value formation

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      Authors: George Baltas, Christina Giakoumaki
      Abstract: For several years, the classic car market has been attracting considerable media and public attention, but the research literature is virtually nonexistent. The purpose of this paper is to address the factors that determine the values of classic car models and explain the remarkable price differences among them. The paper develops and tests a set of research hypotheses about the effects of model characteristics on market values in the context of a generalized hedonic price model that also accounts for heterogeneity among classic car brands. It is demonstrated that classic car model values reside at several levels and are determined by observable characteristics pertaining to aesthetics, rarity, engineering and performance. In addition, we show that classic car marques play a critical role in the determination of model values and account for considerable variation in values, even after controlling for observable model attributes This is one of the first empirical studies to address classic car model value formation. The findings reveal how measurable, observable factors determine classic car model values and augment our understanding of a very interesting but understudied market.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-06-10
      DOI: 10.1108/JEAS-02-2021-0027
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Technical efficiency and input-driven growth in Indian engineering goods
           industry during post-reform period: stochastic frontier approach

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      Authors: Vasim Akram, Asheref Illiyan
      Abstract: The purpose of this study is to examine the performance of Indian engineering goods industry by measuring the technical efficiency and input-driven growth. The study used the panel data of six firms from the period of 1991–92 to 2014–15 compiled from Annual Survey of Industries (ASI), India and output-oriented econometric techniques such as pooled OLS model, and stochastic frontier approach has been applied to measure the technical efficiency. The results suggest that the prime sources of high performance in engineering goods industry, which has recorded 8.8% output growth, are primarily contributed by inputs driven growth (8.2%) during the post-reform period, while the effect of technological change is minimal (0.1%) and technical efficiency change is negative (−0.2%). It was due to sluggishness, outdated technology and underutilization of resources in Indian economy. This research paper is limited to engineering goods industry based on concorded macro data. The recommendations are that India should pursue policies and programs which may focus on technology acquisition, skill enhancement of labor, better capacity utilization, R&D and infrastructure development that may augment the technical change and technical efficiency change of the sector. This research provides robust and significant estimates of technical efficiency and adds valuable insights to the existing literature by identifying the potential areas that improves the performance of Indian engineering goods industry.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-06-09
      DOI: 10.1108/JEAS-08-2020-0145
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Cost efficiency, innovation and financial performance of banks in
           Indonesia

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      Authors: Sholikha Oktavi Khalifaturofi'ah
      Abstract: This study aims to examine the effect of financial innovation, financial ratios, cost efficiency and good corporate governance on the financial performance of banks in Indonesia. The data in this study are in the form of annual financial statements of conventional banks in Indonesia. The effect of cost efficiency, innovation and financial performance of banks in Indonesia is expected to be evident in 2009–2018. The research method used is the panel regression method. The results show that financial innovation affects the financial performance of banks. Cost efficiency has a negative effect on the financial performance of banks. Financial ratio, which is proxied by the capital adequacy ratio (CAR) and loan to deposit ratio, has a positive effect on return on asset and net interest margin. Financial ratio, which is proxied by nonperforming loan and equity to total assets, has a negative effect on return on asset and return on equity. Good corporate governance (GCG), which is proxied by the proportion of managerial ownership (PMO), does not affect the financial performance of banks, whereas GCG, which is proxied by the proportion of independent board of directors, has a negative and significant effect on the financial performance of banks in Indonesia. These results are a warning to bankers and the government to be cautious when formulating a strategy for the financial performance of banking. Cost efficiency and financial innovation are important for the financial performance of banking. However, the possible impact of cost efficiency and financial innovation in Indonesia does not have a significant impact. The study uses static panel estimation techniques to analyze the data.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-06-01
      DOI: 10.1108/JEAS-07-2020-0124
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • The USA–China trade policy uncertainty and inference for the major
           global south indexes

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      Authors: Saffet Akdag, Hakan Yildirim, Andrew Adewale Alola
      Abstract: The recent dynamics of trade policy, especially that is associated with the United States of America (USA) and China, has not only triggered policy adjustments in two economies, it has also implied an uncertainty spillover to other economies across the globe. Consequently, the current study attempts to examine the effect of uncertainties in the USA–China trade policies on stock market indexes. In addition, the cointegration evidence between the USA–China trade policy uncertainty index and of the leading Global South fragile quintet (Brazil, Indonesia, South Africa, India and Turkey) stock market indices is investigated. Mainly, the FMOLS and DOLS Granger causality analysis with cointegration coefficient estimators were employed for the dataset over the monthly data period of March 2003 and July 2019. Accordingly, the study found a long-term relationship between the USA–China Trade Policy Uncertainty index and the stock exchange indexes. In addition, a causal relationship was established from the change in the USA–China Trade Policy Uncertainty index to the change in the stock market indexes of almost all of the examined countries (Brazil, Indonesia, South Africa, India and Turkey). In addition, the nonlinear Autoregressive Distributed Lag approach further offers evidence of asymmetric relationship among the examined indicators. Moreover, this study contributed to the existing literature because it employed the indexes of BIST100, BOVESPA, BSE Sensex 30, IDX Composite and South Africa 40 in a novel approach. Thus, the study posited a useful policy guideline for associated economic uncertainties arising from the trade dispute, such as the case of the world’s two largest trading giants or partners (i.e. the USA and China).
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-05-28
      DOI: 10.1108/JEAS-05-2020-0077
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Financial performance under influence of credit risk in non-financial
           firms: evidence from Pakistan

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      Authors: Muhammad Mushafiq, Muzammal Ilyas Sindhu, Muhammad Khalid Sohail
      Abstract: The main purpose of this study is to examine the relationship between credit risk and financial performance in non-financial firms. In order to test the relationship between Altman Z-score model as a credit risk proxy and the Return on Asset and Equity as indicator for financial performance with control variables leverage, liquidity and firm size. Least Square Dummy Variable regression analysis is opted. This research's sample included 69 non-financial companies from the Pakistan Stock Exchange KSE-100 Index between 2012 and 2017. This study establishes the findings that Altman Z-score, leverage and firm size significantly impact the financial performance of the KSE-100 non-financial firms. However, liquidity is found to be insignificant in this study. Altman Z-score and firm size have shown a positive relationship to the financial performance, whereas leverage is inversely related. This study brings in a new and useful insight into the literature on the relationship between credit risk and financial performance. The results of this study provide investors, businesses and managers related to non-financial firms in the KSE-100 index with significant insight about credit risk's impact on performance. The evidence of the credit risk and financial performance on samples of non-financial firms has not been studied; mainly it has been limited to the banking sector. This study helps in the evaluation of Altman Z-score's performance in the non-financial firms in KSE-100 index as well.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-05-20
      DOI: 10.1108/JEAS-02-2021-0018
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • The role of industry and academia partnership in improving project
           management curriculum and competencies

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      Authors: Erastus Karanja, Laurell C. Malone
      Abstract: Although project management (PM) continues to rise in popularity, there is still a significant PM talent deficit, leading to more challenged or failing projects. To lower the PM talent deficit and mitigate the higher project failure rates, academic institutions have been developing PM curriculums aimed at inculcating a repertoire of competencies to the potential project managers. In developing an ideal well-rounded PM curriculum, academic institutions occasionally engage the input of industry partners and governing entities. The study aims to (1) compare the competencies in one of the leading industry competency model and framework (PMI Talent Triangle) to the competencies in the PM course syllabi learning outcomes, (2) determine the extent to which these two sets of PM competencies are aligned and (3) and explore avenues for improvements. The study uses a purposeful sampling method to gather PM course syllabi. The PM competencies data are gleaned from the syllabi using the content analysis method. Thereafter, QSR NVivo qualitative statistical software is used to summarize and analyze the competency data from the learning outcomes. The results reveal that most of the PM competencies in the course syllabi fall under the technical PM domain. Specifically, the top three competency elements in each domain are technical PM domain (PM skills, tools and techniques, schedule management and cost estimation/budget), leadership domain (team-building, verbal/written communication and problem-solving) and strategic and business management domain (strategic planning, analysis and alignment, benefits management and realization, customer relationship and satisfaction). The study investigates the alignment of the PM course competencies with competency domains in the PMI Talent Triangle, a global competence model that is well aligned with other global competence models such as the APM Competence Framework, the ICB4 Individual Competence Baseline and the PROMA3. The results from this study provide guidelines useful in informing PM curricula re/design, as well as the inculcation of knowledge, skills, tools, techniques and behaviors needed for effective PM. The PM curriculum can be improved by partnering with PM industry leaders who can serve as advisors to the academy on industry needs, direction and emerging innovations that can inform PM learning outcomes, PM curricular design and the development of quality PM talent. The academy and the industry are encouraged to actively strive for mutual partnerships where PM professionals and academicians serve on each other's advisory boards. Also, the academy can partner with the industry professionals by developing curriculum resources such as case studies that bring the real-life PM applications to the classroom. This study is motivated by the call for research studies that provide a holistic picture of the desired PM competencies and an exploration and definition of the educational needs in the PM curriculum.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-05-14
      DOI: 10.1108/JEAS-12-2020-0200
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Shadow banking from China's perspective: an empirical analysis of
           bank-issued wealth management products

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      Authors: Syed Mehmood Raza Shah, Qiang Fu, Ghulam Abbas, Muhammad Usman Arshad
      Abstract: Wealth Management Products (WMPs) are the largest and most crucial component of China's Shadow banking, which are off the balance sheet and considered as a substitute for deposits. Commercial banks in China are involved in the issuance of WMPs mainly to; evade the regulatory restrictions, move non-performing loans away from the balance sheet, chase the profits and take advantage of yield spread (the difference between WMPs yield and deposit rate). In this study, the authors investigate what bank related characteristics and needs; influenced and prompted the issuance of WMPs. By using a quarterly panel data from 2010 to 2019, this study performed the fixed effects approach favored by the Hausman specification test, and a feasible generalized least square (FGLS) estimation method is employed to deal with any issues of heteroscedasticity and auto-correlation. This study found that there is a positive and significant association between the non-performing loan ratio and the issuance of WMPs. Moreover, profitability and spread were found to play an essential role in the issuance of WMPs. The findings of this study suggest that WMPs are issued for multi-purpose, and off the balance sheet status of these products makes them very lucrative for regulated Chinese commercial banks. Non-guaranteed WMPs are considered as an item of shadow banking in China, as banks do not consolidate this type of WMPs into their balance sheet; due to that reason, there is no individual bank data available for the amount of WMPs. The authors use the number of WMPs issued by banks as a proxy for the bank's exposure to the WMPs business. From a regulatory perspective, this study helps regulators to understand the risk associated with the issuance of WMPs; by providing empirical evidence that Chinese banks issue WMPs to hide the actual risk of non-performing loans, and this practice could mislead the regulators to evaluate the bank credit risk and loan quality. This study also identifies that Chinese banks issue WMPs for multi-purpose; this can help potential investors to understand the dynamics of WMPs issuance. This research is innovative in its orientation because it is designed to investigate the less explored wealth management products (WMPs) issued by Chinese banks. This study's content includes not only innovation but also contributes to the existing literature on the shadow banking sector in terms of regulatory arbitrage. Moreover, the inclusion of FGLS estimation models, ten years of quarterly data, and the top 30 Chinese banks (covers 70% of the total Chinese commercial banking system's assets) make this research more comprehensive and significant.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-05-07
      DOI: 10.1108/JEAS-09-2020-0160
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • On the asymmetries created by the Great Recession in the US real estate
           market

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      Authors: Achille Dargaud Fofack, Serge Djoudji Temkeng, Clement Oppong
      Abstract: This paper aims at analyzing the asymmetries created by the Great Recession in the US real estate sector. This paper uses a Markov-switching dynamic regression model in which parameters change when the housing market moves from one regime to the other. The results show that the effect of real estate loans, interest rate, quantitative easing and working age population are asymmetric across bull and bear regimes. It is also found that the estimated parameters are larger in bull regime than bear regime, indicating a tendency to create house price bubbles in bull market. Since three of those asymmetric variables (real estate loans, interest rate and quantitative easing) are related to monetary policy, the Fed can mitigate their impact on an interest-sensitive sector such as housing by engaging in a countercyclical monetary policy. The estimated intercept and the variance parameter both vary from one regime to the other, thus justifying the use of a regime-dependent model.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-04-30
      DOI: 10.1108/JEAS-12-2020-0218
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • The effects of government spending shocks on income distribution in South
           Africa

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      Authors: Naser Yenus Nuru, Mola Gebremeskel Zeratsion
      Abstract: The main aim of this study is to examine the effect of government spending and its components' shocks on the distribution of income between labour and capital in South Africa for the period between 1994Q2 and 2019Q3. The effects of government spending shocks on income distribution are analysed using Jordà's (2005) local projection method. The shocks, however, are identified by applying short-run contemporaneous restrictions in a vector autoregressive model based on Cholesky identification scheme. The results indicate that government spending shock has a positive and significant effect on labour share after the first quarter. This means that expansionary government spending has a paramount role in reducing income inequality in the economy. Both government investment and government consumption shocks have also contributed to a reduction in income inequality, though the magnitude effect is smaller for government consumption. Research findings on the effects of government spending shock on income inequality are still inconclusive. Therefore, this research examines the effect of total government spending shock along with its components on labour income share for the South African economy.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-04-29
      DOI: 10.1108/JEAS-05-2020-0080
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • The impact of COVID-19 outbreak on Borsa Istanbul: an event study method

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      Authors: Yunus Karaömer, Songül Kakilli Acaravcı
      Abstract: This study aims to research how the outbreak of coronavirus disease 2019 (COVID-19) impacts the selected sector price indices in Borsa Istanbul (BIST), Turkey. The authors use the event study method because it is a useful method as stock prices and market instantly reflect the effect of such an unusual event. Data are retrieved from the https://www.investing.com/. The authors find that selected sectors are impacted by the COVID-19 outbreak. The banking and transportation sectors, on the announcement of first death, were impacted negatively, while the telecommunication and food –beverage sectors were impacted positively. The transportation and banking sectors experience an obvious downturn after the spread of COVID-19, while the food–beverage and telecommunication sectors experience an obvious upturn after the spread of COVID-19. Besides, the most adversely impacted sector is banking. This study bridges the research gap and adds significant insights to the existing literature. The main contribution of this study to the existing literature is the unexpected outbreak impacts on financial markets, especially on BIST. It is also expected that this study will make a significant contribution to analysts, researchers and policymakers.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-04-29
      DOI: 10.1108/JEAS-06-2020-0111
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Board composition and value relevance of Ghanaian firms: a seemingly
           unrelated regression approach

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      Authors: Ebenezer Agyemang Badu, Ebenezer Nyarko Assabil
      Abstract: The purpose of this study is to examine the connection between board composition and value relevance of financial information in Ghana. The study uses a panel data of 144 firm-year observations of listed firms in Ghana. The study finds that a higher fraction of independent directors is associated with lower firm value. The study further finds that board size is positively related to firm value, whereas duality is negatively associated with firm value. The practical implication of this paper is that investors and regulators should be mindful that specifying governance composition should not only be based on “so-called” codes of best practices but also the level of the country's or the sector's development and local institutional structures. This study uses five different measurements of market share and considers the impact of the provision of the Code of Best Practices in Ghana.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-04-29
      DOI: 10.1108/JEAS-09-2020-0163
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Mapping the scientific research on alternative momentum investing: a
           bibliometric analysis

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      Authors: Simarjeet Singh, Nidhi Walia, Sivagandhi Saravanan, Preeti Jain, Avtar Singh, Jinesh jain
      Abstract: This study aims to recognize the current dynamics, prolific contributors and salient trends and propose future research directions in the area of alternative momentum investing. The study uses a blend of electronic database and forward reference searching to ensure the incorporation of all the significant studies. With the help of the Scopus database, the present study retrieves 122 research papers published from 1999 to 2020. The results reveal that alternative momentum investing is an emerging area in the field of momentum investing. However, this area has witnessed an exponential growth in last ten years. The study also finds that North American, West European and East Asian countries dominate in total research publications. Through network citation analysis, the study identifies five major clusters: industrial momentum, earnings momentum, 52-week high momentum, time-series momentum and risk-managed momentum. The present review will serve as a guide for financial researchers who intend to work on alternative momentum approaches. The study proposes several unexplored research themes in alternative momentum investing on which future studies can focus. The study embellishes the existing literature on momentum investing by contributing the first bibliometric review on alternative momentum approaches.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-04-29
      DOI: 10.1108/JEAS-11-2020-0185
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • The moderating role of job resources in the relationship between ageing,
           professional status and well-being in healthcare

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      Authors: Andrea Tomo, Stefania De Simone
      Abstract: This study aims to test the relationship between ageing, professional status and well-being and the moderating role that job resources might have in this relationship. The authors relied upon the literature on well-being and the job demands–resources (JD-R) model and employed the Copenhagen psychological questionnaire administered to patient care workers in three paediatric hospitals belonging to the same healthcare organization. The findings, on the one hand, confirm a not-significant relationship between ageing, professional status and well-being; on the other hand, they indicate that job resources have a positive, significant and direct impact on well-being and a significant role in moderating the relationship between ageing, professional status and well-being. The present paper has manifold academic and practical interesting implications as it contributes to the literature on the well-being of healthcare workers and provides implications to identify interventions for better human resource (HR) management in the healthcare context.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-04-12
      DOI: 10.1108/JEAS-10-2020-0177
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Foreign capital inflows: a panacea to slow economic growth and
           infrastructure decay in Africa'

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      Authors: Olumide Olusegun Olaoye, Oluwatosin Odunayo Eluwole, Faraz Lakhani
      Abstract: The purpose of this study is to examine the effect of foreign capital inflows on economic growth in 15 Economic Community of West African States (ECOWAS) countries over the period 2008–2018. Specifically, this paper investigates whether selected foreign capital inflows, namely, foreign debt, foreign aid and foreign direct investments substitute or complement government spending in ECOWAS. The study adopts the two-step system generalized method of moments (GMM) method of estimation to address the problem of dynamic endogeneity inherent in the relationship. The result shows that foreign capital inflows into ECOWAS region have not transmitted into economic growth in the region. Further, the findings reveal that foreign capital inflows to ECOWAS have substituted for government spending. The results might be as a result of the high level of corruption in ECOWAS. The results also show that when institutional quality is interacted with foreign capital inflows, the result shows a negative and statistically significant effect on economic growth. Unlike previous studies which pooled both developed and developing economies together, the authors investigate this relationship in a regional study, using ECOWAS to create a roughly optimum size. In addition, the authors adopt the GMM-system method of estimation to address the problem of dynamic endogeneity inherent in the relationship, which has largely been ignored in extant studies.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-04-07
      DOI: 10.1108/JEAS-07-2020-0121
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Is tourism pro-poor in India' An empirical investigation using ARDL
           approach

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      Authors: Manu Sharma, Geetilaxmi Mohapatra, Arun Kumar Giri
      Abstract: The purpose of this paper is to examine the relationship between tourism sector development and poverty reduction in India using annual data from 1970 to 2018. The paper attempts to answer the critical question: Is tourism pro-poor in India' Stationarity properties of the series are checked by using the ADF unit root test. The paper uses the Auto Regressive Distributed Lag (ARDL) bound testing approach to cointegration to examine the existence of long-run relationships; error-correction mechanism for the short-run dynamics, and Granger non-causality test to test the direction of causality. The cointegration test confirms a long-run relationship between tourism development and poverty reduction for India. The ARDL test results suggest that tourism development and economic growth reduces poverty in both the long run and the short run. Furthermore, inflation had a negative and significant short-run impact on the poverty reduction variable. The causality test confirms that there is a positive and unidirectional causality running from tourism development to poverty reduction confirming that tourism development is pro-poor in India. This study implies that poverty in India can be reduced by tourism sector growth and price stability. For a fast-growing economy with respect to economic growth and tourism sector growth, this may have far-reaching implications toward inclusive growth in India. This paper is the first of its kind to empirically examine the causal relationship between tourism sector development and poverty reduction in India using modern econometric techniques.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-04-06
      DOI: 10.1108/JEAS-02-2021-0031
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Microfinancial inclusion nexus poverty alleviation: the case of Nigeria

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      Authors: Chi Aloysius Ngong, Kesuh Jude Thaddeus, Josaphat Uchechukwu Joe Onwumere
      Abstract: This research examines the long-run relationship between microfinancial inclusion and poverty alleviation in Nigeria from 1990 to 2018. the Engle–Granger two-step co-integration and autoregressive distributed lag (ARDL) techniques. Gross domestic product (GDP) per capita proxies poverty reduction. Number of microfinance banks, borrowers of microfinance institutions, commercial bank branches, commercial bank loan to small-scale businesses and broad money supply ratio measure microfinancial inclusion. The results indicate a long-run relationship between microfinancial inclusion and poverty reduction. The error correction model reveals that microfinancial inclusion and poverty alleviation converge to long-run equilibrium. The number of microfinance banks, lagged value of borrowed funds and broad money supply negatively influences poverty while the lagged values of number of microfinance banks and broad money supply positively influence poverty. Effective ways to improve microcredit channels and liquidity flow to the poor through a microfinance bank's intermediation should be promoted by the Central Bank of Nigeria (CBN) using an aggressive policy, which provides access to credit to the poor. Theoretically, microfinance institutions should increase credit to the poor, especially in rural areas at moderate cost. This study further suggests that many microfinance bank branches should be located in urban and rural areas targeting the poor. Microfinancial inclusion reduces population's poverty in Nigeria and globally. Contrary to other studies, this paper utilizes number of microfinance institutions and borrowers of microfinance institutions to examine the relationship between microfinancial inclusion and poverty alleviation in Nigeria.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-04-05
      DOI: 10.1108/JEAS-08-2020-0147
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • The effects of government spending shocks on real exchange rate in
           Ethiopia

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      Authors: Hiluf Techane Gidey, Naser Yenus Nuru
      Abstract: Government spending has inconclusive effect on real exchange rate. From the very beginning neoclassical economists argued that a rise in government spending brings depreciation in real exchange rate while neo-Keynesians claimed that government spending appreciates real exchange rate. Hence, the main purpose of this paper is to examine the effect of government spending shock and its components' shocks, namely government consumption and government investment on real exchange rate over the period 2001Q1–2016Q1 for Ethiopia. To examine the effects of government spending shocks on real exchange rate, Jordà's (2005) local projection method is employed in this study. The exogenous shocks, however, are identified recursively in a vector autoregressive model. The impulse responses show that government spending shock leads to a statistically significant appreciation of real exchange rate in Ethiopia. This evidence supports the neo-Keynesian school of thought who predicts an appreciation of real exchange rate from a rise in government spending. While government investment shock depreciates real exchange rate on impact insignificantly, government consumption shock appreciates real exchange rate in this small open economy. This research contributes to the scarce literature on the effect of fiscal policy shock on real exchange rate in small open economies like Ethiopia.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-04-01
      DOI: 10.1108/JEAS-07-2020-0137
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Financial liberalization, remittances and economic growth in Nigeria
           (1990–2018)

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      Authors: Bosede Victoria Kudaisi, Titus Ayobami Ojeyinka, Tolulope Temilola Osinubi
      Abstract: International remittances are an important segment of external financial flows in Nigeria, currently superseding official development aid (ODA) in terms of volume, and foreign direct investment (FDI) in terms of stability. This study is motivated by the recent increase in remittance flows in Nigeria as the highest recipient in West Africa, and the fact that the growth impact of remittances is weak within the country. The financial liberalization index developed by Chinn and Ito (2006) is employed in this study to examine the role of financial liberalization in the remittances-growth nexus in Nigeria over the period 1990–2018. To address the possibility of endogeneity among the variables in the model, the study employs the generalized method of moments (GMM) as a technique of analysis. Remittances and financial liberalization are found to have negative significant impacts on economic growth. However, the effect of the interaction term of financial liberalization and remittances on economic growth is positive and significant. This suggests that the two variables act as complements in the enhancement of economic growth in Nigeria. The study thus concludes that financial liberalization is a strong transmission channel through which remittance inflows positively affect economic growth in Nigeria. The study also advocates for a well-developed financial sector in order to attract more growth-enhancing remittances into the country. The implication of the research findings is that an unrestrained financial sector is necessary to encourage and optimize the benefits of remittance flows on economic growth in Nigeria. Previous studies have considered the effects of financial development on the remittances-growth nexus in Nigeria. However, this study examines the role of financial liberalization in the nexus between remittances and economic growth in Nigeria by using the Chinn and Ito (2008) index of financial openness.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-03-29
      DOI: 10.1108/JEAS-09-2020-0164
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • The nexus between foreign bank presence and credit to the private sector:
           evidence from Sub-Saharan Africa

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      Authors: Vera Fiador, Lordina Amoah, Emmanuel Abbey
      Abstract: The purpose of the study is to explore the implications of global financial integration on host economies in Sub-Saharan Africa (SSA). The study tests the competing views on the impact of foreign bank penetration on private sector access to credit in developing host economies. Using data on a panel 25 SSA economies over a period of 22 years from 1995 to 2016, the study employs fixed effects and Prais-Winsten estimations as well as generalized methods of moments (GMM) to test the foreign bank impact. The findings show support for the hypothesis that global financial integration has positive implications for participating economies. In other words, financial sector liberalization and deregulation leading to the influx of foreign banks has positive implications for access to credit by the private sector in SSA economies. The study also finds other standard determinants of access to credit like lending rate and broad money supply conforming to the existing literature in terms of impact. Overall, the findings hold relevant implications for banking sector policies and the financial sector in general regarding the priority that policy makers and advisors attach to reforming financial sector policies.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-03-26
      DOI: 10.1108/JEAS-06-2019-0068
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Does economic risk affect corporate cash holdings'

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      Authors: Ahmed Imran Hunjra, Tahar Tayachi, Rashid Mehmood, Anwaar Hussain
      Abstract: Economic risk plays a vital role in firm's cash holdings. We aim to determine the impact of economic risk on the firm's cash holdings. The data is collected from the DataStream from 2002 to 2018, which covers 552 listed firms in the manufacturing sector of Pakistan, Sri Lanka, India and Bangladesh. We apply a two-step dynamic panel estimation to analyze the results. We use the variance of inflation and variance of interest rate as proxies of economic risk. Our results show that variance of inflation has a significant and negative effect while the variance of interest rate has a significant and positive effect on firms' cash holdings in selected countries. Furthermore, we find economic risk negatively affects the firm's cash holdings in the country-wise analysis. Firms should maintain a reasonable amount of cash reserves to handle uncertain situations. This study may provide insights to financial decision-makers of a firm for better cash management according the economic conditions of the country.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-03-25
      DOI: 10.1108/JEAS-05-2020-0069
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Do corporate financial flexibility, financial sector development and
           regulatory environment affect corporate investment decisions'

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      Authors: Yasin Mahmood, Abdul Rashid, Muhammad Faisal Rizwan
      Abstract: This study aims to examine how corporate financial flexibility, financial sector development and the regulatory environment influence corporate investment decisions in an emerging economy after controlling for several macroeconomic factors. The authors estimated random-effects models to empirically examine the impacts of corporate financial flexibility, banking sector development, equity market development, regulatory quality and corruption on corporate investment decisions. The empirical analysis is based on an unbalanced annual panel data set of a sample of 198 non-financial firms listed on the Pakistan Stock Exchange for the period 1992–2018. The results show that financially flexible firms tend to invest more. The increased banking sector development, stock market development and better regulatory quality play a pivotal role for enabling firms to increase their investment ability. However, the results reveal that corruption acts as a barrier and reduces corporate investments during the examined period. The results suggest that unused borrowing capacity is a good source of financial flexibility. These results strongly support the pecking order theory, which explains why firms incline toward internal sources for financing their investments and why they prefer debt to equity when go for external financing. The empirical findings of the study enable corporate managers to make better financing and investment decisions by understanding the significance of the attainment and maintenance of the corporate financial flexibility to enhance firm value. Furthermore, the findings enable corporate managers to examine and understand the role of banking sector development (BSD), equity market development (EMD), regulatory quality and the role of corruption in affecting corporate firms' investment ability, allowing them to make appropriate investment decisions, especially from an emerging economy perspective. The findings also help investors in making appropriate investment decisions while they are purchasing financial assets. Finally, the findings of the study have some implications for regulators as well. Specifically, the findings suggest that the authorities should implement economic and financial policies favoring banking sector as well as equity market development to enhance corporate investment. The study significantly adds to the literature by examining the impact of financial flexibility, financial sector development and regulatory environment on corporate investment decisions. According to the authors' knowledge, the empirical evidence examining the impact of all of these factors on corporate investment is very scarce. Therefore, this study is an effort to fill the gap left in the literature.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-03-22
      DOI: 10.1108/JEAS-10-2019-0109
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • GCC countries' market risk premia and US monetary policy announcements

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      Authors: Hong Wu
      Abstract: This paper aims to examine if the market risk premiums of the Gulf Cooperation Council (GCC) countries are particularly higher on prescheduled US monetary policy announcement days. The findings shed light on the causality relationship from the state of the global economy to the GCC equity markets as well as their integration with the rest of the world. The author takes the standard event-study approach, following Fama et al. (1969). As the announcement days are prescheduled, the impact of the announcements on the GCC markets' risk premia allows for test of causality, while other studies address predictability and association. The author finds that excess returns are higher, both economically and statistically, on announcement days in most individual GCC countries and the region overall. Moreover, additional compensations may not appear on the exact days of announcement in a few countries; rather, on the days right before or after announcements, possibly due to information leakage or gradual diffusion. My results show that there is a causal relationship from the state of the global economy to the GCC equity markets' risk premia. This new evidence supports integration between the Gulf region's and the world's financial markets. The evidence of risk–return transmission from US monetary policy announcements to GCC countries' equity indices supports integration between the region's and the world's financial markets. The study results will help guide investors' and corporations' investing, capital budgeting and portfolio evaluation decisions. This paper extends the announcement literature (Savor and Wilson 2013, 2014) by examining the responses of the GCC countries, the major players of the global oil markets. The empirical analysis documents a causal relationship from the state of the global economy, as revealed by US monetary policy announcements, to the GCC equity indices. This new evidence supports increased integration between the Gulf region and the world, a finding that investors and corporations should consider when making investing, capital budgeting and portfolio evaluation decisions.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-03-19
      DOI: 10.1108/JEAS-06-2020-0107
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Internal audit quality, punitive measures and accountability in Ugandan
           statutory corporations

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      Authors: Irene Nalukenge, Twaha Kigongo Kaawaase, Juma Bananuka, Peter Francis Ogwal
      Abstract: This study aims to (1) examine the contribution of internal audit quality, punitive measures to accountability in statutory corporations in developing countries such as Uganda and (2) test whether internal audit quality mediates the relationship between punitive measures and accountability in Uganda's statutory corporations. This study is cross-sectional and correlational. Data were collected through a questionnaire survey conducted for 82 statutory corporations. The study's unit of analysis was a statutory corporation. Chief Internal Auditors and Chief Finance Officers were the study's unit of inquiry. Data were analyzed through correlation coefficients and linear regression using Statistical Package for Social Sciences. The results suggest that internal audit quality and punitive measures independently predict accountability. However, punitive measures do not predict accountability in the presence of internal audit quality. Results further indicate that internal audit quality mediates the relationship between punitive measures and accountability in Uganda's statutory corporations. This study confirms internal audit quality (a preventive measure) as a significant predictor of accountability in statutory corporations relative to punitive measures. To achieve accountability, more emphasis thus needs to be put on preventive mechanisms than on punitive mechanisms. This study also enhances our understanding of the relationship between punitive measures, internal audit quality and accountability. In this study, we arrive at new evidence on the mediating role of internal audit quality in the relationship between punitive measures and accountability in Uganda's statutory corporations.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-03-16
      DOI: 10.1108/JEAS-05-2020-0084
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Examination of impact of COVID-19 on stock market: evidence from American
           peninsula

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      Authors: Ali Amin, Muhammad Arshad, Naheed Sultana, Rabeeya Raoof
      Abstract: The rapid spread of COVID-19 has dramatic effects on financial market across the globe. This study analyzes the relationship between the COVID-19 cases, age and stock market indexes in Central America, North America, and South America. The panel regression analysis on three regions from March 10, 2020 to April 9, 2020 was conducted to test the hypothesized model. The authors used Levin et al.’s (2002) panel data unit root test to check the stationarity, and Hausman (1978) test was applied to determine the random and fixed effects. The authors’ panel regression results indicate that the COVID-19 cases have a negative impact on stock indexes, whereas the age has a positive impact on the stock indexes. The region-wise analysis supports the panel finding except for South America, which shows an insignificant association between stock indexes and COVID-19 cases. The study supplements the literature by examining the impact of pandemics on stock indexes and focus on three multicultural regions, comprising developed, developing and emerging countries, which are hitherto unaddressed.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-03-15
      DOI: 10.1108/JEAS-07-2020-0127
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Global integration of the Gulf cooperation council markets

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      Authors: Xiaobing Zhao
      Abstract: This paper investigates the global financial integration of the Gulf Cooperation Council markets, which is important for financial economists, global investors and policymakers. The first step is to estimate a benchmark one-factor model and multifactor models over the entire sample period to obtain the time-invariant global integration estimates for the Gulf Cooperation Council markets. Because the global integration of the Gulf Cooperation Council markets may be time varying, the second step is to use 24-month rolling regressions to estimate the time-varying integration estimates. To explicitly test for structural breaks in global integration, this study applies a supremum Wald test to endogenously search for structural breaks. Empirically, consistent evidence suggests that the Gulf Cooperation Council markets are increasingly integrated with international equity markets at different levels of financial development and from different regions. However, compared to other emerging and frontier markets, the global integration of the Gulf Cooperation Council markets is still relatively low, suggesting that these markets still offer significant diversification benefits for global investors. This study contributes to the literature by systematically investigating the global integration of the Gulf Cooperation Council markets with monthly data (to account for the gradual information diffusion in international equity markets) and a longer sample period (to more robustly identify the trend in the global integration).
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-03-02
      DOI: 10.1108/JEAS-06-2020-0109
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Insurance and economic growth in Ghana

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      Authors: Andrews Osei-Bonsu, Anselm Komla Abotsi, Emmanuel Carsamer
      Abstract: The Ghanaian insurance industry has been transformed significantly from state-led to a market-driven one over the past decades. The empirical literature on the causal relationship between insurance and economic growth has been mixed, but little study on this has been done in Ghana. This study therefore empirically examines the effect of the growing insurance industry on the economic growth in Ghana. Quantitative research design was deployed in the study. The study used Johansen–Juselius cointegration test and vector error correction model. The study deployed quarterly data from the first quarter of 2006 to the second quarter of 2018 sourced from the World Bank (World Development Indicators), National Insurance Commission, Ghana Statistical Service and Bank of Ghana. Findings revealed that there is a significant and positive short and long-run relationship between insurance and economic growth in Ghana, bidirectional causality between insurance and economic growth and also a long-run effect of innovations (shocks) in insurance on economic growth. One of the limitations of the study is the unavailability of quarterly data of some of the variables. The study recommends the development and implementation of policies that promote an increase in coverage and access to insurance products to enhance economic growth. The study finds a bidirectional causality running from insurance premium to economic growth and from economic growth to insurance which is consistent with the feedback hypothesis in the case of Ghana. Impulse response functions and the variance decompositions revealed that innovation (shock) in the insurance industry has a positive impact on economic growth.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-03-02
      DOI: 10.1108/JEAS-09-2020-0158
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Nurses quality of work life: scale development and validation

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      Authors: Nanjundeswaraswamy TS
      Abstract: This is a systematically conducted study to design, develop and validate a measuring instrument to assess the nurses quality of work life (QWL) and determine the vital components of nurses' QWL. In this methodical study, vital dimensions of nurses QWL are identified using Pareto analysis; data and information were collected from 474 nurses through the structured questionnaire. By conducting exploratory factor analysis (EFA), the number of dimensions and items was reduced. Through the confirmatory factor analysis (CFA) using SPSS 21 software, nine predominant dimensions were confirmed, they are work environment, working condition, work–life balance, compensation, relationship and cooperation, stress at work, job satisfaction, career development and organization culture. Additional structural equation modeling (SEM) was done to determine the interrelationships between extracted nine components using AMOS. By performing different statistical tests like reliability test, content validity, construct validity, convergent, divergent validity and multicollinearity, the proposed nine-component nurses QWL instrument was validated. The proposed measurement model explained 73.18% of total variance; reliability of the instrument Cronbach's alpha value is 0.902. Model fit indices like chi-square df (CMIN) = 685, df = 523, CMIN/DF = 1.310, goodness-of-fit index (GFI) = 0.965, adjusted goodness-of-fit index (AGFI) = 0.937, parsimony goodness-of-fit index (PGFI) = 0.918, incremental fir index (IFI) = 0.933, Tucker–Lewis index (TLI) = 0.921, comparative fit index (CFI) = 0.931 and root mean square error of approximation (RMSEA) = 0.036 fulfill the acceptable criteria. The nine factors nurses QWL measuring instrument is reliable and statistically valid. Data were collected from 474 nurses, poor responses and time constraints. Hospitals are trying to improve the quality of patient caring by enhancing the nurses' skill sets, knowledge and attitude to meet global challenges. In this unstable business environment, hospitals face challenges like the high attrition rate and skilled nurses shortage. In this scenario, this study provides a valid instrument to measure the QWL of nurses to know the status of QWL, which will help to build a strategic plan to improve retention rate and to attract the talented workforce to the hospitals. As a result, the scale developed in this study contributes to the body of the literature on nurses QWL. It seems to be more advantageous for carrying out further research in this field.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-02-25
      DOI: 10.1108/JEAS-09-2020-0154
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Locus of control and entrepreneurial intention: a study in a developing
           economy

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      Authors: Helen Arkorful, Sam Kris Hilton
      Abstract: The purpose of this study is to investigate the influence of locus of control (internal and external) on entrepreneurial intention of final year undergraduate students in Ghana. The study adopts descriptive and cross-sectional survey designs. It also employs quantitative approach to collect the data from 300 final year undergraduate students in selected universities in Ghana. The data were analyzed using descriptive statistics, correlation and hierarchical regression techniques. The results reveal that there is a positive relationship between locus of control (both internal and external) and entrepreneurial intention. However, it is found that external locus of control has more influence on entrepreneurial intention compared to internal locus of control. In addition, gender has no controlling effect on the relationship between locus of control and entrepreneurial intention. The findings imply that entrepreneurial course contents should include topics on locus of control that will expose the students to the reality of their environments so as to learn how to take control and create opportunities out of their environments. Again, students should be encouraged and educated on how to build up personality traits such as the need for achievement, innovativeness and risk-taking, since these traits have direct impact on their locus of control which in turn impacts on their entrepreneurial intentions. This study contributes to entrepreneurship literature by investigating determinants of entrepreneurial intention from a different perspective, and reveals that individuals (regardless of their gender) with external locus of control are more likely to become entrepreneurs in a developing economy.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-02-15
      DOI: 10.1108/JEAS-04-2020-0051
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • The evolving path of CSR: toward business and society relationship

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      Authors: Kuldeep Singh, Madhvendra Misra
      Abstract: This paper takes a critical look at the meaning of corporate social responsibility (CSR) based on the available literature on the subject matter. As CSR is an evolving concept both in meaning and practice, this study aims to highlight CSR actions of the world's six largest organizations (Google, Twitter, Amazon, Apple, ExxonMobil and Walmart). The purpose of choosing these organizations and their CSR adoption was to examine the business-society relationship and the role of key stakeholders in establishing this association. This study examined CSR through the case study approach and provides valuable insights by showing that CSR is a connecting link between business and society. Specifically, the authors took a crucial look at various contentious, often ambiguous definitions, theoretical framework, brief historical development, issues and controversies surrounding it, the role of CSR in community development and summing it up with the future direction and managerial implications. This study observed that there are some developmental strategies taking place today which are relevant to the issue at stake, such as: contributing to the world economy, corporations donating or engaging in a wide range of philanthropic gestures now than ever and contributing to the beauty of the society by meeting rising community expectations. By analyzing the worlds' 6 largest companies' CSR initiatives, this study provides valuable insights by showing that CSR is a connecting link between business and society and is based on win-win collaborations between civil society, business, investors and government. These companies' CSR initiatives have been mostly unexplored in past studies.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-02-12
      DOI: 10.1108/JEAS-04-2020-0052
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • The role of finance in inclusive human development in Africa revisited

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      Authors: Simplice Asongu, Rexon Nting
      Abstract: This study aims to investigate the direct and indirect linkages between financial development and inclusive human development in African countries. The study employs a battery of estimation techniques, notably: two-stage least squares, fixed effects, generalized method of moments and Tobit regressions. The dependent variable is the inequality adjusted human development index. All dimensions of the Financial Development and Structure Database of the World Bank are considered. The main finding is that financial dynamics of depth, activity and size improve inclusive human development, whereas the inability of banks to transform mobilized deposits into credit for financial access negatively affects inclusive human development. Policies should be tailored to improve mechanisms by which credit facilities can be provided to both households and business operators. Surplus liquidity issues resulting from the inability of banks to transform mobilized deposits into credit can be resolved by enhancing the introduction of information sharing offices (like public credit registries and private credit bureaus) that would reduce information asymmetry between lenders and borrowers. This study complements the extant literature by assessing the nexus between financial development and inclusive human development in Africa.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-02-11
      DOI: 10.1108/JEAS-07-2020-0138
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Economic policy uncertainty effect on credit risk, lending decisions and
           banking performance: evidence from Tunisian listed banks

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      Authors: Khalfaoui Hamdi, Guenichi Hassen
      Abstract: This paper examines the effect of economic policy uncertainty (EPU) on credit risk, lending decisions and banking performance of Tunisian listed banks over the period 1999–2019. To identify the relationship between EPU, credit risk, lending decisions and banking performance, we have proceeded with a fixed effects panel regression model over the period 1999–2019. Our empirical analysis showed a significant positive effect of EPU on credit risk and a significant negative effect on loan size and performance. We have also found that state-owned banks were the most affected by increasing EPU. Their credit risk has increased and their returns have decreased. While highly leveraged private banks have recorded a sharp decline in their results. Facing increasing credit risks, generated by EPU, Tunisian banks are allowed to revise their lending decisions to ensure consequently their sustainability and performance. Tunisian resident banks should set up a monitoring system and an early-warning system of credit risk in order to guarantee both, their performance and the sustainability of the economy's financing. A good banking governance and a stable economic and political environment are the key factors that improve the allocation of credit, credit risk diversification and the creation of added value for the different activity sectors. On the theoretical as well as on the empirical level, the analysis of the Tunisia EPU on credit risk, bank lending strategy and banking performance was not handled previously in the literature. It was noted that state banks are more influenced by the increase of EPU. Their credit risk has increased and their returns have declined. However, private banks with a high leverage effect have recorded a net decrease in their results. Since the 2011 revolution, invisibility and EPU have largely influenced the bank lending decisions and subsequently banking performance.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-02-08
      DOI: 10.1108/JEAS-09-2020-0159
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Knowledge management processes and organizational culture in the higher
           educational technical institutions

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      Authors: T.S Nanjundeswaraswamy, D.R Swamy
      Abstract: The rationale of this study is to explore the stages of knowledge management, types of organizational culture and their relationship in higher educational technical institutions (HETIs) in India. A survey instrument has been designed to evaluate knowledge management, organizational culture and their relationship. Further, the instrument has been tested and validated using structural equation modelling. The data have been collected from the faculty working in HETIs. Empirical pieces of evidence support that knowledge management in the HETIs is still in the growth stage. Clan-type organization culture is dominating, and there is a significant and positive relationship between knowledge management and organization culture. The study has been conducted in the HETIs of India. Therefore, the outcome of the research cannot be generalized to the other sectors. In addition to this, the data have been limited to 233 faculty from the eight HETIs located in Bangalore. HETIs are trying hard to improve the employability of the students by enhancing their skill sets, knowledge, attitude and innovativeness to meet global challenges. In such an environment, this study provides insight into the stages of knowledge management and the type of organizational culture in HETIs, which will help build a strategic plan and improve students' attributes for better employability and innovations. A positive relationship exists between the knowledge management process and organizational culture in HETIs.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-01-25
      DOI: 10.1108/JEAS-07-2020-0134
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • The effect of fiscal policy on economic growth in South Africa: a
           nonlinear ARDL model analysis

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      Authors: Naser Yenus Nuru, Hayelom Yrgaw Gereziher
      Abstract: The main purpose of this study is to investigate the short-run and long-run asymmetric effects of fiscal policy, namely government spending on economic growth over the sample period 2004Q2 up to 2018Q1 for the South African economy. Nonlinear autoregressive distributive lag model is used to examine the short-run and long-run asymmetric effects of government spending on economic growth. The results exhibit the negative change effect of government spending is found to be greater than the positive change effect of government spending on economic growth. Real effective exchange rate is found to have a positive and significant effect on economic growth both in the short run and long run. Whereas, inflation rate affects economic growth negatively and significantly in the short run and long run. Previous empirical studies on the effect of fiscal policy on growth, at least for South Africa, consider only the asymmetric short-run effect while this paper extends the literature by incorporating asymmetries into the long-run effect. It provides a detailed analysis to the recent controversies on the effects of fiscal policy on growth.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-01-13
      DOI: 10.1108/JEAS-06-2020-0088
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Perceived organizational support, self-efficacy and work engagement:
           testing for the interaction effects

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      Authors: Ibrahim Abaasi Musenze, Thomas Sifuna Mayende, Abbey Kalenzi, Rehema Namono
      Abstract: The purpose of this paper is to examine the relationship of the interaction effect of perceived organizational support (POS) and self-efficacy (SE) with work engagement (WE) within the primary education industry. The paper relies on structural equation modeling (SEM) with AMOS (V.22) to test and resolve the conditional hypothesis that fusion of POS and SE is necessary for WE. The scale of effect of POS on WE depends on SE; hence, the assumption of nonadditivity is achieved. Precisely, the interaction of POS and SE is necessary for WE. The study was based on a single research methodological approach, namely quantitative research methodology, which could have been affected the outcome of this investigation. Future studies could investigate WE interaction model through qualitative lens in order to provide a triangulation opportunity. Moreover, the findings from the current study are cross-sectional, and data were collected at a snapshot. Therefore, future research should consider the multiplicative effects studied in this paper across time. Attempts to heighten WE levels, among government primary school teachers in Uganda, would require that management regularly ventures into finding a more practical and feasible fusion of POS with SE in order to provide significant levels of WE among employees of primary education industry. This is the first study that tests the interactive effects of POS and SE on WE in Uganda's primary education industry.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-01-13
      DOI: 10.1108/JEAS-08-2020-0141
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • The impact of co-structure of capital, profitability and corporate growth
           opportunities on stock exchange in Indonesia

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      Authors: Teddy Chandra, Achmad Tavip Junaedi, Evelyn Wijaya, Martha Ng
      Abstract: The purpose of this paper is (1) to determine the factors that significantly influence the capital structure, (2) to determine the factors that significantly influence profitability, (3) to find the factors that significantly influence growth opportunities, (4) to find reciprocal influence between capital structure and profitability and (5) to find reciprocal influence between capital structure and growth opportunity. The population of this research is a manufacturing company listed on the Indonesia Stock Exchange during the period of 2010–2016. The number registered in the manufacturing sector is 144 companies. The sampling technique applied is purposive sampling. The fulfillment criteria are companies that have been approved before 2010. Another criterion is that the company is not delisting during the observation period. From that total of population, companies that meet the requirements are 117 companies. This observation was conducted for seven years since 2010–2016, so the center of the analysis of this research was a total of 819. The inferential statistics method used to analyze the research data is generalized structural component analysis (GSCA). The results of this study indicate that (1) the factors that influence the capital structure include effective tax rate, financial flexibility, growth, uniqueness, asset Utilization, firm size and tangibility; (2) factors that affect profitability include liquidity, growth, firm age, uniqueness, tangibility, volatility, advertising and asset turnover; (3) growth opportunity have a negative and significant influence on capital structure. This means an increase in growth opportunity can be defined as an increase in depreciation that will not be used as collateral for managers to increase debt. This increase in debt will have an impact on reducing growth opportunities; (4) profitability and capital structure have a two-way causality relationship, which means they influence each other and (5) capital structure and growth opportunities have a negative reciprocal relationship. The authenticity of the study is implied in the following explanation: The authors try to examine the reciprocal effect of capital structure on profitability and capital structure on growth opportunities and the factors that influence these two endogenous variables that have never been done by previous researchers. This research is motivated by research conducted by (Chathoth and Olsen, 2007; Jian-Shen Chen et al., 2009; Yang et al., 2010) using the structural equation model (SEM). However, this study uses GSCA as a method of research analysis.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-01-08
      DOI: 10.1108/JEAS-08-2019-0081
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Impact of financial development on bank profitability

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      Authors: Peterson K. Ozili , Honour Ndah
      Abstract: This paper investigates the effect of financial development on bank profitability. The authors examine whether financial development is an important determinant of bank profitability. The ordinary least square and the generalized method of moments regression methods were used to analyze the impact of financial development on the profitability of the Nigerian banking sector. The authors find a significant negative relationship between the financial system deposits to GDP ratio and the non-interest income of Nigerian banks. This indicates that higher financial system deposits to GDP depresses the non-interest income of Nigerian banks. The result implies that the larger the size of the Nigerian financial system, the lower the profitability of banks in Nigeria. Also, the authors observe that bank concentration, nonperforming loans, cost efficiency and the level of inflation are significant determinants of the profitability of Nigerian banks. It is recommended that regulators should establish market-enabling policies that encourage new banks to emerge in the banking industry. The entry of new banks can lead to increase in financial system deposits and credit supply for economic growth. Regulators also need to understand the role of Nigerian banks in promoting financial development and find ways to collaborate with banks towards financial sector development. Another implication of the findings for asset managers is that asset managers will need to take into account the prevailing level of financial development, particularly the size of the financial system, in their asset pricing and investment decisions. This will ensure that investors get value for their investments in Nigeria. The financial implication of the study is that the level of financial development in Nigeria can improve the finance-growth linkages in Nigeria through the efficient allocation of credit and capital to crucial sectors of the Nigerian economy to spur growth in those sectors. Evidence dealing with how financial development affects the profitability of the banking sector in African countries is scarce in the literature, and is completely absent for Nigeria. This paper addresses this research gap.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-12-31
      DOI: 10.1108/JEAS-07-2021-0140
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • A validity of environmental Kuznets curve under the role of urbanization,
           financial development index and foreign direct investment in Pakistan

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      Authors: Abdul Farooq , Ahsan Anwar , Muhammad Ahad , Ghulam Shabbir , Zulfiqar Ali Imran
      Abstract: This research aims to inspect the existence of the “environmental Kuznets curve” (EKC) in the presence of foreign direct investment (FDI), financial development (FD) and urbanization throughout 1972–2018 for Pakistan. For time series analysis, Phillips and Perron (PP) and Augmented Dickey–Fuller (ADF) unit root tests are used to confirm the level of integration. For robustness, Kim and Perron (2009)’s structural break unit root test is employed, which identifies the order of integration in the presence of structural break years. Further, combined cointegration analysis is performed to confirm the existence of a long-run association between underlying variables. Furthermore, autoregressive distributed lag (ARDL) analysis is employed for the robustness of the cointegration approach. The cointegration analysis confirms the existence of a long-run association among variables. The authors find a positive and significant impact of urbanization, FD and foreign development on environmental degradation in the long run. Similarly, only FDI increases environmental degradation in the short run. In addition, the authors find an inverted U-shape relationship between economic growth and environmental quality which, further, confirms the presence of EKC in Pakistan. This research contributes to applied economics in many ways: the combined effect of urbanization, FD, FDI and economic growth on carbon dioxide (CO2) emission is checked simultaneously. To avoid ambiguity, this study constructs the FD index through the principal component analysis (PCA). Moreover, the role of structural breaks has been considered through the analysis. Novel Bayer-Hanck combined cointegration analysis is employed to detect the existence of long-run relationships among underlying variables.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-12-31
      DOI: 10.1108/JEAS-10-2021-0219
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Quality management system in higher education institutions and its impact
           on students' employability with the mediating effect of
           industry–academia collaboration

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      Authors: Jawad Abbas , Kalpina Kumari , Waleed Mugahed Al-Rahmi
      Abstract: Based on the principles of the human capital theory, this study investigates the role of the quality management system (QMS) in higher education institutions (HEIs) in developing successful employability attributes among graduates. Considering industry as a prominent stakeholder in academia, the authors took industry–academia collaboration as the mediating variable. Using the European Foundation for Quality Management model, the author analyzed how QMS in public HEIs located in London, the United Kingdom (UK), impacts business management, computer science and engineering students' employability. Following the nonprobability convenience sampling technique, this study included data from 324 local and international students. The structural analysis identified QMS as a significant factor in enhancing students' employability, and industry–academia collaboration is found to act as a partial mediator in this relationship. The management of HEIs in developing countries can take valuable guidelines from this study and integrate QMS in their institutions in developing their students' employability, as it is being done by HEIs in the UK.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-12-29
      DOI: 10.1108/JEAS-07-2021-0135
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Role of safety in declining public transport use: Empirical evidence from
           India

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      Authors: Taru Saigal , Arun Kr Vaish , N.V.M. Rao
      Abstract: Using primary survey data from an urban area in Global North, this study aims to examine the impact of sociodemographic factors on perception of usefulness of public transport and the importance of safety in preferring private modes of transport over public. The study uses stratified random sampling technique to collect data on travel behavior and socioeconomic characteristics. Descriptive statistics complemented with bivariate probit model and seemingly unrelated bivariate probit model is implemented on the data obtained. The study finds that women, unmarried individuals, the youngest age group, least educated individuals and those who are working are expected to finding public transport more useful as compared to their respective counterparts. Despite finding the mode most useful, women are more likely to find it unsafe to travel. The study calls attention to not only dealing with the infrastructural changes in system but also with those attached insecurities which limit its use. To the best of our knowledge, this is the first time a comprehensive evaluation of the demands and challenges for transportation services faced by different segments of the society is carried out in this section of the developing world.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-12-22
      DOI: 10.1108/JEAS-08-2021-0150
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Constraints to the development of MSMEs in Assam, India: do
           owner-managers’ background characteristics and firm-specific
           characteristics matter'

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      Authors: Md Sahnewaz Sanu , Shabana Anjum
      Abstract: The purpose of the research is to identify the major constraints to the growth of micro, small and medium enterprises (MSMEs) in a less-developed region of an emerging economy and how these constraints are affected by owner/manager's attributes and firm-specific characteristics. To fulfill the objectives, a structured questionnaire is used to gather data from 200 randomly selected MSMEs located in Cachar district of Assam, India. The study applies factor analysis to categorize various perceived constraints into resolute sets of problem variables or factors. Then, the summated scales are regressed on the predictors related to owner-manager's attributes and firm characteristics to validate the hypotheses. The results demonstrate that the broad factors constraining the development of MSMEs in Cachar district are as follows: (1) financial issues, (2) infrastructure problems, (3) labor and management issues, (4) market problems and (5) input problems. Furthermore, the findings confirm that firm growth, size, age, sector, location, innovation activity, owner-manager's gender, age and level of education significantly affect the identified constraints. Although the research is limited to the Cachar district of India, the findings are relevant for other similar districts of India and less-developed regions of emerging economies. However, the study needs to be replicated in other regions of India as well as in other emerging economies for cross-validation and to determine the generalizability of the results. To the authors' knowledge, no studies linking the constraints faced by MSMEs to owner/manager's attributes and firm-specific characteristics are carried out in the north-eastern region of India. The study also extends the limited researches on the influence of owner-manager's attributes and firm characteristics on the constraints to the growth of MSMEs by incorporating additional predictors.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-12-13
      DOI: 10.1108/JEAS-08-2021-0159
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Investor sentiment and liquidity in emerging stock markets

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      Authors: Dorra Messaoud , Anis Ben Amar , Younes Boujelbene
      Abstract: Behavioral finance and market microstructure studies suggest that the investor sentiment and liquidity are related. This paper aims to examine the aggregate sentiment–liquidity relationship in emerging markets (EMs) for both the sample period and crisis period. Then, it verifies this relationship, using the asymmetric sentiment. This study uses a sample consisting of stocks listed on the SSE Shanghai composite index (348 stocks), the JKSE (118 stocks), the IPC (14 stocks), the RTS (12 stocks), the WSE (106 stocks) and FTSE/JSE Africa (76 stocks). This is for the period ranging from February, 2002 until March, 2021 (230 monthly observations). We use the panel data and apply generalized method-of-moments (GMM) of dynamic panel estimators. The empirical analysis shows the following results: first, it demonstrates a significant relationship between the aggregate investor sentiment and the stock market liquidity for the sample period and crisis one. Second, referring to the asymmetric sentiment, we have empirically given proof that the market is significantly more liquid in times of the optimistic sentiment than it is in times of the pessimistic sentiment. Third, using panel causality tests, we document a unidirectional causality between the investor sentiment and liquidity in a direct manner through the noise traders and the irrational market makers and also a bidirectional causality in an indirect channel. The results reported in this paper have implications for regulators and investors in EMs. Firstly, the study informs the regulators that the increases and decreases in the stock market liquidity are related to the investor sentiment, not financial shocks. We empirically evince that the traded value is higher in the crisis. Secondly, we inform insider traders and rational market makers that the persistence of increases in the trading activity in both quiet and turbulent times is associated with investor participants such as noise traders and irrational market makers. The originality of this work lies in employing the asymmetric sentiment (optimistic/pessimistic) in order to denote the sentiment–liquidity relationship in EMs for the sample period and the 2007–2008 subprime crisis.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-12-07
      DOI: 10.1108/JEAS-11-2020-0198
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Exploring the relationship between corruption, income inequality and
           informal sector in developing countries: a panel quantile approach

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      Authors: Abdul Rashid , Farooq Ahmad , Sarir Ud Din , Shar Zaman
      Abstract: This paper aims to explore the impact of corruption (CP) on income inequality (IN) by considering the size of informal sector (IFS) at different levels of percentiles. This paper uses a panel quantile regression approach for a sample of 50 developing countries. The study also applies panel co-integration (Kao residual co-integration test) in order to examine the long-run relationship between CP and IN. This paper using a panel quantile regression approach shows that the high incidence of IFS in an economy marginalizes CP's positive effect because it works as a source of poor peoples' livelihood and skillful individuals. The spread of IFSs in the developing economies may raise earnings among groups and individuals who remain unemployed. Moreover, the results show that CP creates asymmetry in income distribution; fascinatingly, the asymmetric income distribution is high when CP is at higher percentiles. Due to non-availability of IFS, we restrict our analysis up to 50 developing countries. CP devastates the effectiveness of institutions over time. Therefore, the government should have to take bold steps to reduce CP in society. Another policy implication of this study is that the government should reduce CP to decrease IN in less developing countries. Moreover, to increase the net base, the authorities need to bring IFS under the umbrella of regulation to avoid inequality in society. In developing economies, a higher part of labor force is related to IFS; therefore, our findings suggest a dire need to reduce labor exploitation in IFS. The policymakers can reduce labor exploitation by reducing the size of IFS, which ultimately reduces IN. On the basis of the authors’ findings, this paper further suggests that it is mandatory for government to reduce CP in order to reduce IN. Moreover, to reduce IN, one needs to reduce the size of IFS. This study is unique as it is the first that examined the role of IFS in establishing the effect of CP on IN for developing countries at different percentiles.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-11-29
      DOI: 10.1108/JEAS-03-2021-0043
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • The impact of corporate governance performance on the association between
           information asymmetry and opportunities' optimal levels: evidence from
           developed markets

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      Authors: Ehsan Poursoleyman , Samira Joudi , Gholamreza Mansourfar , Saeid Homayoun
      Abstract: Previous literature posits that corporate governance and information asymmetry are the main factors in making efficient investments. Meanwhile, a growing body of studies is of the opinion that corporate governance can also mitigate the problem of information asymmetry and consequently exerts significant impacts on the association between information asymmetry and investment efficiency. This study aims to analyze the impact of corporate governance and information asymmetry on investment efficiency. It also tests the moderating role of corporate governance in the relationship between information asymmetry and investment efficiency. The sample consists of 4,082 firms domiciled in 20 developed countries over the years from 2003 to 2019, including 33,812 firm-year observations. The bid–ask spread is used as a proxy for information asymmetry. To measure corporate governance performance, a proxy provided by ASSET4 is employed, and to determine the optimal levels of investments, we relied on the growth opportunity. To estimate the models, ordinary least squares and generalized method of moment are used. The results reveal that information asymmetry is inversely related to investment efficiency, and, corporate governance mitigates this negative association. This paper sheds light on the role of corporate governance in firms as a lever for mitigating information asymmetry and tries out information asymmetry and agency theories in relation to the impact of information asymmetry on investment efficiency. It also confirms the theory stating that corporate governance can be considered as a determinant of investment efficiency.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-11-23
      DOI: 10.1108/JEAS-02-2021-0036
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Asymmetric impact of tourism on the balance of payments in Pakistan:
           evidence from non-linear ARDL

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      Authors: Asim Rafiq , Ameer Muhammad Aamir , Muhammad Nadeem
      Abstract: The aim of the paper is to determine the asymmetric impact of tourism on the deficit in the balance of payments (BOPs). The research uses the non-linear autoregressive distributed lag (ARDL) model to investigate the asymmetric impact of tourism on Pakistan's BOPs deficit using quarterly data from 1995 to 2019. The finding reveals that due to the positive change in tourism, the BOPs deficit decreases by 27%, although due to the negative change in tourism, the BOPs deficit rises by 2.3%. In addition, the significance of F-statistics (10.609) confirms the existence of co-integration between tourism and the deficit in the BOPs. The Wald test confirms the asymmetric association between tourism and the deficit in the BOPs over the long term. In order to improve tourism in Pakistan, policymakers must consider the following implications. First, there is a need for an adequate infrastructure that can help the tourist. Second, the Government must maintain a stable law and order situation as a whole and particularly at tourist destinations. Finally, the Government should develop tourism-friendly policies in order to boost tourism in Pakistan. The research provides new evidence of the impact of tourism on the BOPs using the novel non-linear ARDL (NARDL) technique. The evidence will help policymakers to develop policies to improve tourism in order to reduce the BOPs deficit.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-11-04
      DOI: 10.1108/JEAS-12-2020-0212
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Illicit financial outflows, informal sector size and domestic resource
           mobilization in selected African countries

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      Authors: Benedict Ikemefuna Uzoechina , Joseph Afolabi Ibikunle , Godwin Olasehinde-Williams , Festus Victor Bekun
      Abstract: The growth of both the informal sector and illicit financial outflows necessitated this study, in order to investigate how countries in Africa respond to these realities in terms of mobilization of domestic resources. These are the main motivation for the current study to the extant literature in conjunction with the adoption of employing second-generation econometric techniques which take into account cross-sectional dependence and country-specific heterogeneity. This study therefore examined the capacity of Africa to mobilize domestic resources amidst rising illicit financial outflows and informal sector size in selected African countries between 2000 and 2018. Second-generation econometric techniques such as cross-sectional dependence tests, slope homogeneity tests, Westerlund (2007) long-run co-integration tests, Eberhardt and Teal (2010) augmented mean group estimations and Kónya (2006) panel causality testing were employed. Findings revealed the existence of cross-sectional dependence and slope homogeneity in the data series. Findings also supported the existence of depressing long-run impacts of IFOs and ISS on domestic savings. Causality test results were not uniform across variables among countries. Policy recommendations favour formalizing the largely informal African economies through budgetary policy adjustments and commitment to building stronger institutions. The fragility of the African countries economy and its macroeconomic indicators is suggestive for more policy construction. This economic reality about the nature of the informal sector is one that has negated the traditional view which holds that economic reforms would make the informal sector shrink as it transits to formal sector. Experiences from Latin America and Africa in fact indicate that the informal sector is actually on an expansionary path in the wake of adjustment and policy reforms. It is often called the unobserved, unorganized or unprotected economy. With this sector growing in size, the possibility of a reverse may not be in sight, owing to the increasing poverty levels and unemployment prevalent in most African countries. Uncertain foreign investment and aid inflows coupled with lower export revenues and high levels of indebtedness have created new impetus to examine the capacity of Africa's fiscal policy regime to mobilise domestic resources for the development of the region. Surprisingly, the last decade witnessed continued rise in Africa's illicit financial outflows amidst large informal sector size (ISS).
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-10-27
      DOI: 10.1108/JEAS-12-2020-0208
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Financial constraints and tax planning activity: empirical evidence from
           Ghanaian banking sector

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      Authors: Baba Adibura Seidu , Yaw Ndori Queku , Emmanuel Carsamer
      Abstract: This paper focused on financial constraints scenario and tax planning activities of banks in Ghana. The study explores how financial constraints could motivate the banks to pursue tax planning mechanism and the implication on tax revenue mobilisation. The paper followed generalised method of moments and fixed effect estimators to investigate the financial constrained-tax planning activity nexus. Simulation approach is adopted to provide financially constrained bank scenario. Besides contemporaneous analysis, sensitivity analysis is conducted to determine time varying effect. Data from all the 20 commercial banks which have operated from 2008 to 2018 were used. The paper found that when banks are faced with financial constraints, they exhibit lower cash-effective-tax-rate. The decomposition analysis also revealed that financially constrained banks are likely to take on both short- and long-term tax planning opportunities. The paper also found evidence of persistence in the tax planning activities under financial constrained scenario. This paper is one of the few studies which have extended the tax planning literature to the Ghanaian banking sector. Further novelty is seen from the development of financial constraint scenario from liquidity and solvency. Liquidity and solvency are the anchors for continuity of banking operation and sensitive to regulatory watch and sanctions. Therefore, by applying simulation approach to trigger financial constraints scenarios from these fundamental indicators reveals the extent to which commercial banks rely on tax planning opportunities to mitigate the consequence of financial constraints.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-10-26
      DOI: 10.1108/JEAS-12-2020-0199
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Supply chain agility in third-party logistics providers: its relationship
           with institutional and cultural geographical traits in a developing
           country

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      Authors: Benjamin R. Tukamuhabwa , Henry Mutebi , Rebecca Kwagala
      Abstract: The purpose of this paper is to investigate the relationship between geographical traits consisting of institutional traits and cultural traits, and supply chain agility in third-party logistics providers. A theoretical model was developed and assessed through a structured questionnaire survey using cross-sectional data from 170 third-party logistics providers registered in Uganda. To validate the suggested model, data were analysed using exploratory factor analysis, correlations and regressions. Correlation results revealed that all institutional and cultural geographical traits in the model, i.e. infrastructural frameworks, regulatory frameworks, organisational culture and national culture are positively and significantly associated with supply chain agility. However, a further analysis using regression revealed that regulatory framework and organisational culture are the only significant predictors of supply chain agility and together, all the four traits account for 28.1% variance in supply chain agility. This study applies the institutional theoretical framework to provide an empirical understanding of the role of institutional and cultural factors in supply chain management practice. Furthermore, it confirms and expands on the existing theories about supply chain agility. The findings provide firm ground for managerial decisions regarding emphasis on external factors in building firms' supply chain agility. Managers should scan the macro-environment and make conscious firm decisions regarding institutions and culture in certain geographical locations. The host countries should also be aware of their role in building firms' supply chain agility. Distinctive from the literature on antecedents of supply chain agility, which predominantly focuses on the firm and supply chain capabilities, this study utilises the paradigm of institutional fit to empirically show how managers in a developing country wishing to build supply chain agility should not only focus on their supply chains and internal operations, but go beyond and consider geographical traits when making firm location and/or operational decisions for certain geographical contexts in order to achieve fit.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-10-25
      DOI: 10.1108/JEAS-11-2020-0194
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Firm age, sales growth and survival of internationalized SMEs: does human
           capital play a role'

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      Authors: Channappa Santhosh
      Abstract: This paper aims to explore the moderating effect of human capital in the form of a CEO’s educational background and firm age at the time of internationalization on growth and survival. The research study is based on primary data gathered from 102 internationalized small and medium enterprises (SMEs) belonging to the engineering industry in Bangalore district, Karnataka, India. The results reveal that human capital significantly improves sales growth but had no impact on the survival of internationalized SMEs. The paper includes practical implications for the CEOs of SMEs to successfully strategize their efforts towards growth and survival in the international market. This research study enhances the importance of human capital and its impact on the growth and survival of internationalized SMEs in the context of an emerging economy where research studies are limited and largely unexplored till date.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-10-22
      DOI: 10.1108/JEAS-09-2020-0168
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Innovating processes and processing innovation: strategic approach to
           innovation in accounting firms

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      Authors: Andrea Tomo , Gianluigi Mangia , Paolo Canonico
      Abstract: This paper aimed to explore the main strategies and approaches to innovation in professional service firms (PSFs), with a specific focus on accounting firms. The paper relied upon a systematic literature review of previous studies to identify and reconcile the different approaches to innovation processes in accounting firms and further advance a conceptual framework for their discussion. The findings, based on the review of 38 papers, revealed four main strategies around two main dimensions: the focus on internal/external features of the firm and the main source of innovation (technology and knowledge). The strategies may enable PSFs finding new opportunities and improving organizational performance. The paper provides a conceptual framework in the form of a “strategy-innovation” matrix where four strategies emerged to support PSFs identifying possible approaches to innovation for new opportunities and improving their performance and services. In doing so, the paper bridges the main sources of innovation, knowledge and technology with key organizational features, considering structural/organizational aspects, cultural aspects, HR practices, collaborative behaviors, professional autonomy, service diversification and the role of professional networks and external actors. The paper contributes to the literature by deepening understanding of innovation processes in PSFs, suggesting the need to develop a strategic orientation to innovation in these firms. In doing so, the paper also provides useful practical implications for the management of PSFs, suggesting an “innovation/strategy” matrix that might support the positioning of PSFs with reference to its approach to innovation.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-10-21
      DOI: 10.1108/JEAS-03-2020-0029
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Efficacy of public sector audits in the provision of quality healthcare in
           Ghana

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      Authors: Clement Oppong , Achille Dargaud Fofack , Eva Boakye-Yiadom
      Abstract: This study examines the efficacy of public sector audits in providing quality healthcare in Ghana. Specifically, to ensure whether there are proper and adequate controls in place to enable providers to offer necessary health services efficiently, effectively and equitably. A structural equation modeling (SEM) is adopted to analyze the link between public sector audit and healthcare delivery through a survey of directors, accountants, auditors and managers in selected public healthcare institutions for a calculated sample size of 123 respondents. The study reveals that internal audit, external audit and audit committee have a positive and significant effect on the effectiveness of public sector audits. In turn, the effectiveness of public sector audit has a positive and significant effect on the quality health services. Audit committee is found to have the largest effect on the effectiveness of public sector audits. This paper extends the literature on the value of public sector audit by providing empirical evidence from a specific context: the public health sector of a developing country in democratic transition with a common law institutional framework. It also provides insights into the financial management of public health systems in developing countries during the ongoing coronavirus disease 2019 (COVID-19) pandemic.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-10-19
      DOI: 10.1108/JEAS-03-2021-0045
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Exploring the relationship between investment choices, cognitive abilities
           risk attitudes and financial literacy

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      Authors: Muhammad Mushafiq , Shamsa Khalid , Muhammad Khalid Sohail , Tayyebah Sehar
      Abstract: The main purpose of this study is to investigate the investment choices' relationship with cognitive abilities, risk aversion, risky investment intentions, subjective financial literacy and objective financial literacy. To examine the relationship, two investment choices were given to 256 subjects from Pakistan. Questionnaire had total 20 questions for measuring five variables. To review this nexus, discriminant analysis was used as to explore the depth of the nexus that is the ability of the variables to predict the investment choices. This study establishes the findings that Investment choices are guided by risk aversion, risky investment intentions, financial literacy (subjective and objective) and cognitive abilities. The risk aversion has negative relation to investment choices and other variables depict positive relationship to with investment choices. This study provides a new and useful understanding into the existing literature on investment choices. The results are significant as the cognitive abilities show a positive contribution to the investment choices. This is point of significance as the portfolio managers and advisors would get help in regards of advising investments as they are aware what factors impact the investment choices. This study is novel in its nature to evaluate investment choices using the cognitive ability alongside risk attitudes and financial literacy.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-10-15
      DOI: 10.1108/JEAS-07-2021-0130
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Cognitive and affective predictors of occupational stress and job
           performance: the role of perceived organizational support and work
           engagement

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      Authors: Ana Junça Silva , Cannanda Lopes
      Abstract: This study aimed to (1) analyze whether the perceived organizational support (POS) was a significant predictor of performance and stress and (2) explore the mediating role of engagement in these relations. To test the hypotheses, the authors collected data with 200 working adults in a mandatory quarantine due to COVID-19 pandemic crisis. The results showed that the POS contributed to increase engagement, and consequently, job performance. These relations also proved to be significant for stress, because when the POS increased, the work engagement also increased, and as a result decreased occupational stress. This study relied on a cross-sectional design. Therefore, future research should consider a daily design to replicate this study and analyze daily fluctuations. Overall, the authors can conclude that work engagement is an affective process through which POS decreases stress and increases performance. This study tests the mediating effect of work engagement on the link between POS, stress and performance, and its theoretical and practical implications of these findings are discussed.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-10-13
      DOI: 10.1108/JEAS-02-2021-0020
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Islamic financial markets response to uncertainty: an application of
           quantile-on-quantile approach

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      Authors: Muhammad Saeed Meo , Kiran Jameel , Mohammad Ashraful Ferdous Chowdhury , Sajid Ali
      Abstract: The purpose of the research is to analyze the impact of world uncertainty and pandemic uncertainty on Islamic financial markets. For representing Islamic financial markets four different Islamic indices (DJ Islamic index, DJ Islamic Asia–Pacific index, DJ Islamic-Europe index and DJ Islamic-US) are taken. The study employs quantile-on-quantile regression approach to see the overall dependence structure of variables based on quarterly data ranging from 1996Q1 to 2020Q4. This technique considers how quantiles of world uncertainty and pandemic uncertainty asymmetrically affect the quantiles of Islamic stocks by giving an appropriate framework to apprehend the overall dependence structure. The findings of the study confirm a strong negative impact of world uncertainty and world pandemic uncertainty on regional Islamic stock indices but the strength of the relationship varies according to economic conditions and across the regions. However, the world pandemic effect remains the same and does not change. Conversely, pandemic uncertainty has a larger effect on Islamic indices as compared to world uncertainty. Our findings have significant implications for investors and policymakers to take proper steps before any uncertainty arise. A coalition of the central bank, government officials and investment bank regulators would be needed to tackle this challenge of uncertainty. To the best of the authors' knowledge, none of the current works has considered the asymmetric impact of world and pandemic uncertainties on Islamic stock markets at both the bottom and upper quantiles of the distribution of data.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-10-13
      DOI: 10.1108/JEAS-03-2021-0052
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Public service motivation, workplace spirituality and employee well-being:
           a holistic approach

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      Authors: Sobia Hassan , Nighat Ansari , Ali Rehman
      Abstract: The present research aims to examine the effect of workplace spirituality (WPS) and employee well-being (EWB) on public service motivation (PSM) in the public institutions. Workplace spirituality and EWB are two concepts related to the optimal level of human performance, while the motivation of academic staff is a vital concern in higher education institutions (HEIs), particularly in the public sector. In this competitive age, it is a challenge to improve the motivation of academic staff due to limited resources in developing countries. This study examines the association between WPS and PSM through the lens of EWB in the context of HEIs. This study opted for a quantitative research method by using a stratified sampling technique. A structured questionnaire was used to collect data from the academic staff of renowned public sector universities located in Lahore, Pakistan. Hypothesized relationships were tested using structural equation modeling through AMOS: 22. The results supported the established conceptual model that WPS is positively associated with PSM through the mediating role of EWB. The research approach chosen may lack generalizability of the results because the data were collected from a specific population. Moreover, self-report measures were used, which may have led to common method bias which is also another drawback of the study. This study is a pioneer in conceptualizing and testing a model that links WPS, EWB and PSM in the context of HEIs. The implications regarding enhancing the culture of spirituality in the workplace, EWB and PSM are elaborated in the specific context of academic staff, attempting to fill a gap in the extant literature. This study accomplishes a recognized need to study how PSM can be improved by facilitating EWB and WPS.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-10-13
      DOI: 10.1108/JEAS-05-2020-0072
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Meaning and willingness to pay: the role of expectation disconfirmation

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      Authors: Peyman Assadi , Pooria Assadi
      Abstract: Pursuit of meaning is at the heart of much of organizational life. It has implications for how different organizational stakeholders associate value to various organizational initiatives. Research on meaning has generally shown that effort increases meaning and favorable valuation of and willingness to pay for economic activities by organizational stakeholders. The authors build on and advance this research by offering theory and experimental evidence showing that effort, particularly at high levels, results in enhanced meaning and favorable valuation when effort does not threaten the focal stakeholders' resources through expectation disconfirmation. Three experimental studies are designed and conducted in this research. In one study, the authors replicate prior research findings that establish labor generally increases meaning and favorable valuation. In the two subsequent studies, the authors test the proposed hypothesis in this research and check for robustness of the empirical analysis. The authors find that any internalized threat to the focal stakeholder's resources coupled with a high exertion of effort decreases, rather than increases, meaning and favorable valuation of and willingness to pay for economic activities. The theory and empirical evidence in this research advance the understanding of how organizational stakeholders may associate effort-induced meaning with various economic activities in counter-intuitive ways. The findings also highlight the importance of recognizing and shaping the expectations of organizational stakeholders in influencing willingness to pay in organizational settings.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-10-12
      DOI: 10.1108/JEAS-04-2021-0069
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Stability in the banking industry and commodity price volatility:
           perspective from developing economies

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      Authors: Rexford Abaidoo , Elvis Kwame Agyapong , Kwame Fosu Boateng
      Abstract: This paper aims to examine the effect of volatility in prices of internationally traded commodities (the backbone of most economies) on the stability of the banking industry from three main perspectives; bank liquidity reserves, overall bank risk and bank capital adequacy. Data were compiled from various sources for 30 emerging economies from 2002 to 2018 and were analyzed using the two-step system generalized method of moments estimation technique. The study finds that all things being equal, the magnitude and direction of impact of commodity price volatility on bank stability among economies in Sub-Saharan African (SSA) depend on the type and nature of the commodity in question; and the bank stability proxy used. For instance, an increase in crude oil prices is found to foster stability in the banking industry (proxied by bank liquid reserves) but insignificant when stability in the banking industry is proxied using other banking sector parameters. Additionally, government effectiveness and corruption control have varying moderating influences on how volatility associated with prices of internationally traded commodities influence various proxies for banking industry stability. This study highlights the effect of fluctuations in prices of key internationally traded commodities (adjusted for foreign exchange impact) that are important sources of revenue among economies in SSA on banking sector stability from liquidity, overall risk and capital adequacy perspectives. The influential role of governance in the relationship between volatility in the price of commodities and bank stability is also revealed by the study.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-10-12
      DOI: 10.1108/JEAS-05-2021-0089
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Stock market flexibility during COVID-19 pandemic: evidence from Pakistan

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      Authors: Ume Kalsoom , Sheheryar Javed , Rizwan Ullah Khan , Arif Maqsood
      Abstract: The authors examine the impact of coronavirus disease 2019 (COVID-19) pandemic on the stock market, forex market and gold market of Pakistan. By using the daily data of COVID-19 confirmed cases, stock index, foreign currency rates and gold prices for the period 10 March 2020 to 16 October 2020, the authors explore that the stock index negatively responds to the corona pandemic. Additionally, the authors observe the price hikes in gold and foreign currency corresponding to the number of COVID-19 positive cases. The study analysis unveils that the stock market adversely responds to a pandemic, whereas, forex and gold markets serve as a safe haven for investors at the time of financial distress. This study complements the literature and provides empirical evidence of the stock market, the gold market and foreign currency market, in the perspective of Pakistan.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-10-12
      DOI: 10.1108/JEAS-07-2021-0131
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Impact of market-wide versus firm-specific information on financial
           analysts

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      Authors: Omar Farooq
      Abstract: This paper documents the effect of different types of information on the value of financial analysts. The authors use the pooled OLS regression and the data of nonfinancial firms from France to test our hypotheses. The data covers the period between 1997 and 2019. The results show that analysts are more likely to cover those firms that incorporated greater proportion of market-wide information in their prices. Consistent with the economies of scale view, the authors argue that analysts specialize in the interpretation market-wide information. By doing so, they are able to cover relatively large number of firms simultaneously. The results also show that the value of analyst coverage (measured as the impact of analyst coverage on firm value, probability of stock price crash and probability of stock price jump) is a function of the extent to which different types of information are incorporated in prices. The authors’ results suggest that the impact of analyst coverage on firm value and on probability of crash is less pronounced in firms that incorporate greater proportion of market-wide information. In case of probability of jump, the results show that the impact of analyst coverage is more pronounced firms that incorporate greater proportion of market-wide information. The major contribution of this paper is to document the impact of different types of information on the extent of analyst coverage. Furthermore, this paper also uses various measures (the impact of analyst coverage on firm value, probability of stock price crash and probability of stock price jump) to show how different types of information affects the value of analyst coverage.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-10-05
      DOI: 10.1108/JEAS-07-2021-0134
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • The influence of responsible leadership on protective behavior:
           organizational perspective of COVID-19 crisis

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      Authors: Muhammad Irfan , Omar Khalid Bhatti , Ali Osman Ozturk
      Abstract: Emergence of COVID-19 has posed a big challenge around the world demanding responsible behavior at all levels for effective mitigation of its adverse effects on humanity. Despite deadly nature of the pandemic, people yet tend to violate the lockdowns, social distancing, and related protective measures. This study presents a critical view and identifies underlying causes of the deviant behavior of masses. It highlights specific areas where responsible leadership can make a difference in fighting the pandemic from organizational perspective. Qualitative data collected through in depth interviews from three different countries - Pakistan, Turkey and Malaysia. The data was collected thrice with time lags and integrated view has been presented in this study. The study finds that perceptual dissonance, cost of protective behavior, reactive attraction and perceived triviality of protective measures are some of the main causes of deviant behavior. Although the data have been collected from three countries, yet smaller sample size remains a limitation of the study. Similarly, the longitudinal data was collected once in each wave of COVID-19 and its increased frequency could make findings more reliable. The findings provide an “analysis template” for responsible leaders to analyze any crisis situation in future. In the light of findings, leaders can locate causes of deviant behavior and the way they can influence behavior of employees in a crisis. The study is highly valuable in analysis of social dimension of COVID-19 crisis at organizational level. It clearly highlights the significance of social and financial support by responsible leaders for influencing the protective intentions of employees in an emergency situation. The organizational perspective and the responsibilities of leaders for fighting the pandemic has not been adequately explored. This study has investigated the likely causes of deviant behavior of employees in adoption of protective measures. It also highlights the areas where responsible leaders can make a difference in inducing protective behaviors.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-09-28
      DOI: 10.1108/JEAS-03-2021-0063
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Determinants of foreign direct investment inflow to the agricultural
           sector: a panel-data analysis

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      Authors: Seyed Reza Zeytoonnejad Mousavian , Seyyed Mehdi Mirdamadi , Seyed Jamal Farajallah Hosseini , Maryam Omidi NajafAbadi
      Abstract: Foreign Direct Investment (FDI) is an important means of boosting the agricultural sectors of developing economies. The first necessary step to formulate effective public policies to encourage agricultural FDI inflow to a host country is to develop a comprehensive understanding of the main determinants of FDI inflow to the agricultural sector, which is the main objective of the present study. In view of this, we take a comprehensive approach to exploring the macroeconomic and institutional determinants of FDI inflow to the agricultural sector by examining a large panel data set on agricultural FDI inflows of 37 countries, investigating both groups of developed and developing countries, incorporating a large list of potentially relevant macroeconomic and institutional variables, and applying panel-data econometric models and estimation structures, including pooled, fixed-effects and random-effects regression models. The general pattern of our findings implies that the degree of openness of an economy has a negative effect on FDI inflows to agricultural sectors, suggesting that the higher the degree of openness in an economy, the lower the level of agricultural protection against foreign trade and imports, and thus the less incentive for FDI to inflow to the agricultural sector of the economy. Additionally, our results show that economic growth (as an indicator of the rate of market-size growth in the host economy) and per-capita real GDP (as an indicator of the standard of living in the host country) are both positively related to FDI inflows to agricultural sectors. Our other results suggest that agricultural FDI tends to flow more to developing countries in general and more to those with higher standards of living and income levels in particular. FDI inflow has not received much attention with respect to the identification of its main determinants in the context of agricultural sectors. Additionally, there are very few panel-data studies on the determinants of FDI, and even more surprisingly, there are no such studies on the main determinants of FDI inflow to the agricultural sector. We have taken a comprehensive approach by studying FDI inflow variations across countries as well as over time.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-09-22
      DOI: 10.1108/JEAS-11-2020-0196
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Ex ante, ex post risk and bank capital ratios: an empirical investigation

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      Authors: Faisal Abbas , Adnan Bashir
      Abstract: The purpose of this study is to investigate the impact of leverage, regulatory capital and tier-I capital ratios on the ex ante and ex post risk of Japanese banks. To test the hypotheses, the authors have implemented a panel of 507 commercial and cooperative banks of Japan over the period extending from 2001 to 2020, using a two-step system Generalized Method of Moments (GMM) framework. The overall sample banks' results show that the impact of leverage, regulatory capital and tier-I capital ratios on ex ante and ex post risk is positive. The findings reveal that the effects of regulatory and tier-I capital ratios on ex post risk are negative (positive) for commercial (cooperative) banks, high-liquid, low-liquid and high-growth banks in Japan. In addition, the regulatory capital ratio is more beneficial for risk due to its power to absorb losses. The lagged coefficient indicates that banks require more time to adjust their ex post and ex ante risk during crisis period than during normal economic conditions. The heterogeneity in results has practical implications for regulators, policymakers and bank managers in formulating the capital requirement guidelines with respect to ex ante and ex post risk across different categories and characteristics of banks. To the best of the authors' knowledge, this is the first study investigating the impact of leverage, regulatory capital and tier-I capital ratios on the ex ante and ex-post risk of Japanese commercial and cooperative banks over the period from 2001 to 2020. The insights into the impact of leverage, regulatory capital and tier-I capital ratios on the ex ante and ex post risk of well-capitalized, under-capitalized, high and low-liquid banks are new in the context of Japan.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-09-21
      DOI: 10.1108/JEAS-06-2021-0108
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Testing cointegration between workers' remittances and human capital
           formation in Sri Lanka

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      Authors: Ahamed Lebbe Mohamed Aslam , Selliah Sivarajasingham
      Abstract: This study investigates the long-run relationship between workers' remittances and human capital formation in Sri Lanka by using the macro-level time series data during the period of 1975–2020. In this study, the augmented Dickey–Fuller (ADF) and Philips–Perron (PP) unit root tests, the autoregressive distributed lag (ARDL) bounds cointegration technique, the Granger causality test, the forecast error variance decomposition technique and impulse response function analysis were employed as the analytical techniques. In accordance with the results of unit root tests, the variables used in this study are mixed order. Results of cointegration confirm that workers' remittances in Sri Lanka have both long-run and short-run beneficial relationship with human capital formation. The Granger causality test results indicate that there is a two-way causal relationship between workers' remittances and human capital formation. The results of forecast error variance decomposition expose that innovation of workers' remittances contributes to the forecast error variance in human capital in bell shape. Further, the empirical evidence of impulse response function analysis reveals that a positive standard deviation shock to workers' remittances has an immediate significant positive impact on human capital formation in Sri Lanka for a period of up to ten years. This research provides insights into the workers' remittances in human capital formation in Sri Lanka. The findings of this study provides evidence that workers' remittances help to produce human capital formation. By using the ARDL Bounds cointegration and other techniques in Sri Lanka, this study fills an important gap in academic literature.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-09-21
      DOI: 10.1108/JEAS-11-2020-0183
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • The effect of individual cultural values and phantasy on risky investment
           intention

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      Authors: Selim Aren , Hatice Nayman Hamamci
      Abstract: This study aims to examine the impact of conscious and unconscious processes on risky investment intention. In this framework, the effect of individual cultural values and phantasy on risky investment intentions was investigated. In addition, the mediating role of phantasy in the relationship between individual cultural values and risky investment intentions was also analyzed. Data were collected between May 14, 2020 and June 01, 2020, when our graduate students voluntarily shared the online survey link on their social networks. In this way, 1,934 people in total answered the questionnaire. To test the study model, structural equation modeling (SEM) was performed using the AMOS program. In addition, ANOVA and independent sample t-test analyses were conducted using the SPSS program to analyze whether individual cultural values and risky investment intent differ according to demographic variables. According to the analysis results, power distance, collectivism, masculinity and long-term orientation are seen as antecedents of phantasy. While a positive relationship was found between power distance, collectivism and risky investment intention, a negative relationship was found between uncertainty avoidance and risky investment intention. Statistical findings regarding the mediating effect of phantasy on the relationship between individual cultural values and risky investment intentions were also determined. In addition to these, the differences in individual cultural values and risky investment intentions according to age, education level, sex and marital status were investigated. Individuals with the highest uncertainty avoidance level were in the 41–50 age group. Individuals with the highest long-term orientation level were individuals aged 41 and over. Individuals with the lowest risky investment intentions were in the +51 age group. Collectivism and power distance did not differ according to age. There were no differences in the relevant variables according to the level of education. Males have higher levels of risky investment intention, power distance, masculinity and collectivism than females, and married individuals have higher levels of uncertainty avoidance, masculinity and collectivism than singles. This study is the first to investigate the impact of conscious and unconscious processes on risky investment intentions together. On the other hand, the number of studies empirically investigating the relationship between phantasy and risky investment intention is quite limited, and the authors have also provided the findings for the existence of a relationship between these two variables.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-09-16
      DOI: 10.1108/JEAS-06-2021-0111
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Understanding the costs of interpersonal helping and governing mechanisms:
           an application of transaction cost economics theory

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      Authors: Shih Yung Chou , Charles Ramser
      Abstract: Utilizing transaction cost economics (TCE) theory as the theoretical underpinning, this article aims to describe the costs of interpersonal helping and governing mechanisms that individuals may use to alleviate helping costs. A theoretical analysis was performed by drawing upon TCE and related research. Through the lens of TCE, the authors propose the following: First, as the costs of helping increase, interpersonal helping shifts from being triggered by an autonomous motivation to being regulated by contextual contingencies. Second, the helper is likely to utilize reciprocity to mitigate helping costs by acquiring specific assets possessed by the recipient when asset specificity is high. Third, the helper is likely to utilize organizationally sanctioned procedures and rules to mitigate helping costs by eliminating unwanted resource consumptions when outcome uncertainty is high. Finally, the helper is likely to utilize group norms to mitigate helping costs by involving others in helping or discouraging requests for recurrent help when the frequency of helping is high. From a theoretical standpoint, this article complements previous research that focuses on the dark side of interpersonal helping. Practically, the authors offer several implications that help managers minimize the costs of helping in the organization.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-09-15
      DOI: 10.1108/JEAS-03-2020-0034
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Green innovation and Sustainable Development Goals in SMEs: the moderating
           role of government incentives

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      Authors: Rizwan Ullah , Habib Ahmad , Fazal Ur Rehman , Arshad Fawad
      Abstract: The aim of this research is to understand how government incentives (financial and non-financial) influence the relationship between green innovation and Sustainable Development Goals (SDGs) in SMEs. To contribute to the literature, this research uses empirical evidence of 204 Pakistani small and medium-sized enterprises (SMEs) and tests the moderating role of government support between green innovation and SDGs. The findings indicate that green innovation has a significant influence on SDGs, community development and environmental activities. The government support significantly strengthens the relationship between green innovation and environmental practices, while it does not moderate the path between green innovation and community development. The research recommends SMEs focus on the adoption of green innovation and green technology to protect the environment and facilitate the community. Moreover, the research advises the government to assist SMEs financially and nonfinancially, so they will in turn help in the attainment of SDGs. This research is the first attempt to assess the importance of green innovation in SDGs with a moderating role of government incentives in emerging SMEs. It provides several useful implications for policymaking.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-09-14
      DOI: 10.1108/JEAS-07-2021-0122
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Analyzed relationship between risks and expected returns

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      Authors: Doan Van Dinh
      Abstract: This study aims to investigate the relationship between risks and the expected return of financial investment because the relationship between them is negative; if the investors agree to the higher level of risk, they have the greater the expected return; therefore, investors always require a degree of proportionality between the risks and returns. This study applied the standard deviation, variance, coefficient of variation methods and matrix function to measure risks. Besides, the dataset is a return on equity ROE, which is collected in three companies at time series from 2005 to 2020. When the variance or the standard deviation is higher, the return on the securities is higher, but the securities are a higher risk and vice versa. The results showed risk levels of stocks that are 2.509%, 0.367%, 3.666% and the corresponding return mean of 38.68%, 23.99% and 14.02%. The results support the portfolio management policy appropriately. This study identifies issues for managers, investors and readers to consider: have a comprehensive solution among microcosmic policies, finance policy, investment policy and other policies to control and balance the relationship between risks and returns; have appropriate policies to regulate funds to stimulate investment in the long term.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-09-13
      DOI: 10.1108/JEAS-05-2021-0088
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • The effect of exchange rate uncertainty on employment in South
           Africa’s manufacturing sector

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      Authors: Naser Yenus Nuru , Hayelom Yrgaw Gereziher
      Abstract: The main purpose of this study is to investigate the symmetric and asymmetric effects of exchange rate uncertainty on employment in South Africa’s manufacturing sector over the period 1985Q1–2019Q2. Jorda’s (2005) local projection method is employed and following Koop et al. (1996); generalized impulse response functions are generated to see the effect of exchange rate uncertainty on employment in South Africa’s manufacturing sector. The results show that exchange rate uncertainty affects negatively and significantly employment in South Africa’s manufacturing sector. Employment also responds negatively and significantly to export shock. Inflation and output shocks, however, positively and significantly affect employment on impact. Asymmetric responses of employment to exchange rate uncertainty are also found in this study. While high exchange rate uncertainty leads to a reduction in employment, low exchange rate uncertainty brings an increase in employment in South Africa’s manufacturing sector. This research adds to the scarce empirical literature on the effect of exchange rate uncertainty on employment in South Africa’s manufacturing sector by incorporating mainly non-linearities into the model.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-09-09
      DOI: 10.1108/JEAS-06-2020-0085
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Unveiling benefits through franchising in Indian power distribution:
           addressing the resources scarcity

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      Authors: Mrigakshi Das
      Abstract: The Indian power distribution companies are increasingly recognizing franchising for reviving their high loss-making rural pockets. The motivation for franchising has been a reduction of the franchisor's resource scarcity by bringing in operational efficiency and improved service quality to end consumers. However, there is a dearth of evidence on the influence of the franchisee's operations in addressing the resource scarcity of franchisors in predominantly rural areas. This study contributes towards filling the research gap. A qualitative embedded multiple case study was conducted. The cases comprised two rural franchisees operating towards attaining the common goal. The study was built on archival analysis, personal observations and semi-structured interviews with the franchisors and franchisee officials across the organization's hierarchical levels. A conceptual model based on the review of prior literature formed the initial set of coding for the study. The data were presented based on within-case and across-case analysis. The analysis revealed that the contract design impacts the requisite operational efficiency achievement. This variation could be elaborated by factors, such as system adaptation across organizational hierarchy, autonomy and independence, review and feedback systems, monitoring, a professional's attitude, bureaucracy, adaption with the local areas, risk sharing, incentives and compensation structure. The study findings could be generalized to the extent of similar socio-economic conditions, prevailing governance mechanisms and law and orders. Additionally, since the law does not mandate the regulatory commissions to scrutinize the performance of the franchisees, the study was built on data shared by the franchisees and the discom. Further, this study considered the performance of only two performing franchisees. Matching these actualities with the discoveries of this study remains a continuing project as participation of private players is increasingly being recognized. Therefore, the insights drawn from this study could be used to improve the franchise model and can be scaled up across the nation, regions and sectors. There is a dearth of literature on franchising in electricity distribution. This study is one of the first studies on studying the franchise system in the electricity distribution sector through the application of a well-accepted management theory.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-09-08
      DOI: 10.1108/JEAS-05-2021-0098
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Revisiting the Solow growth model: new empirical evidence on the
           convergence debate

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      Authors: Sedat Alataş
      Abstract: This paper investigates income convergence using different convergence concepts and methodologies for 72 countries over the period between 1960 and 2010. This study applies beta (β), sigma (s), stochastic and club convergence approaches. For β-convergence analysis, it derives the cross-country growth regressions of the Solow growth model under the basic and augmented Cobb–Douglass (CD) production functions and estimates them using cross-section and panel data estimators. While it employs both the widely used coefficient of variation and recently developed weak s-convergence approaches for s-convergence, it applies three different unit root tests for stochastic convergence. To test club convergence, it estimates the log-t regression. The results reveal that (1) there exists conditional β-convergence, meaning that poorer countries grow faster than richer countries; (2) income per worker is not (weakly) s-converging, and cross-sectional variation does not tend to fall over the years; (3) stochastic convergence is not found and (4) countries in the sample do not converge to the unique equilibrium, and there exist five distinctive convergence clubs. The results clearly show that heavily relying on one of the convergence techniques might lead researchers to obtain misleading results regarding the existence of convergence. Therefore, to draw reliable inferences, the results should be checked using different convergence concepts and methodologies. Contrary to the previous literature, which is generally restricted to testing the existence of absolute and conditional β-convergence between countries, to the best of the author’s knowledge, this is the first study to consider and compare all originally and recently developed fundamental concepts of convergence altogether. Besides, it uses the Penn World Table (PWT) 9.1 and extends the period to 2010. From this point of view, this study is believed to provide the most up-to-date empirical evidence.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-09-07
      DOI: 10.1108/JEAS-02-2021-0035
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Impact of corporate governance on capital structure: mediating role of
           cost of capital

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      Authors: Aisha Javaid , Mian Sajid Nazir , Kaneez Fatima
      Abstract: This paper contributes to the existing literature by extending the empirical work on the relationship between corporate governance and capital structure by analyzing the mediating role of cost of capital in the non-financial firms listed on the Pakistan Stock Exchange (PSX). The sample for this study includes non-financial firms listed on the Pakistan Stock Exchange (formerly Karachi Stock Exchange) for the period of 2004–2016. Based on 1800 firm-year observations, three approaches of panel data analysis are applied for the step-wise analysis of the underlying study. Firstly, Pooled OLS is applied. Secondly, fixed and random effect panel regression followed by the Hausman test to check the unobservable individual heterogeneity of the data. Hausman test indicates that the fixed-effects model is the most appropriate model for the sample panel data. The study's findings are that board size, board composition, CEO/Chair duality, institutional ownership and managerial ownership have statistically significant direct effect on the firm's financing decisions. However, CEO/Chair duality, institutional ownership and managerial ownership have significant indirect effect on firm's capital structure decisions. The interesting finding of the paper is on the evidence of mediating role of cost of capital in the nexus of corporate governance and capital structure. Moreover, some conventional determinants of capital structure, including the firm's size, asset structure of the firm, profitability, business risk and growth, are found as determinants of capital structure decisions of the firms. There are a few limitations to our study which could be addressed by upcoming research. We did not include all the four mechanisms of corporate governance including board structure, audit structure, compensation structure and ownership structure. However, we used only five important attributes including board size, board composition and CEO/Chair duality form board structure, managerial ownership and institutional ownership form ownership structure of corporate governance as our explanatory variables to examine their impact on the capital structure choices of the firms. Future studies may fill this research gap by involving some other attributes of corporate governance and analyzing their effectiveness and impact on value relevant capital structure decisions. Further, due to limited time and resources, we only tested the mediating role of cost of capital, hence, future researchers can analyze the mediating and moderating roles of different variables which may influence the relationship between corporate governance and capital structure choices of the firms. The study has many valuable guidelines and practical implications for the financial managers of the corporations. Our results will facilitate the policymakers in setting their corporate governance policies and practices and making the value relevant capital structure decisions in compliance with the implications of corporate governance mechanism. In addition, our study provides the empirical evidence in accordance with the argument that good governance practices, particularly the voluntary disclosures by the firm may reduce the information asymmetry which, ultimately, reduces the agency cost and the cost of capital for the firm. However, while deciding the financial policy of the corporations, managers can use our findings in order to assess the effectiveness of corporate governance practices employed by the firm in achieving the optimal capital structure at which the weighted average cost of capital is at its minimum level. This paper contributes to the literature by investigating the mediating role of the cost of capital in the relationship between corporate governance and capital structure decisions of the firms. This paper provides empirical evidence that corporate governance indirectly affects capital structure decisions through the mediating role of cost of capital.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-09-07
      DOI: 10.1108/JEAS-09-2020-0157
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Corporate governance structure and bank performance: evidence from an
           emerging economy

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      Authors: Md. Ibrahim Molla , Md. Saiful Islam , Md. Kayes Bin Rahaman
      Abstract: The purpose of the paper is to explore the association between corporate governance mechanisms and the performance of listed banks in Bangladesh. Dynamic panel data of two-step System Generalized Method of Moments (SGMM) estimators are used to analyze the influence of corporate governance characteristics on the performance of banks operating in Bangladesh over a period of eleven years from 2008 to 2018. By employing the two-step SGMM, the authors find statistical evidence to conclude that board size has a positive impact on banks' accounting performance. However, it does not influence the market performance of banks operating in Bangladesh. The authors’ results also suggest that outside independent directors, managerial ownership and females' participation on the board are not linked with the performance of the listed banks in Bangladesh. It signifies that the mere presence of outside directors and female directors in the board does not guarantee the enhancement of banks' performance and the minimization of agency conflict between shareholders and management. The persistent characteristic of bank performance is one of the crucial findings of this paper. This research has some limitations as the study's findings may not be generalized to other countries or industries because the current study considered only the small sample size based on the availability of the data and focused only on the banks listed in the DSE. Moreover, this study may not represent the whole financial industry because it includes all listed and non-listed banks and non-bank financial institutions. Hence, the findings may not be applicable to the other industries operating in different business ecosystems. The findings of this analysis have some managerial implications. This study provides managers empirical evidence regarding the influence of corporate governance elements on banks' performance, and they can now identify the factors that should emphasize enhancing the bank performance. The findings demonstrate that policymakers, regulatory bodies and bank management should pay more attention to the banks' overall corporate governance structures, especially in the case of appointing independent and female directors to challenge the executive power and to prevent the repetition of financial irregularities and loan scams in the banking industry of Bangladesh. Furthermore, the regulatory authorities should ensure the banks follow the corporate governance guidelines precisely for building a resilient banking industry to attain sustainable development goals in the long run. This paper is the first empirical in-depth analysis applying the most recent data that examines the effect of bank governance elements on the performance of all the banks listed in the Dhaka Stock Exchange to the best of our knowledge.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-08-31
      DOI: 10.1108/JEAS-05-2021-0083
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Relationship between financial inclusion, banking stability and economic
           growth: a dynamic panel approach

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      Authors: Richard Boachie , Godfred Aawaar , Daniel Domeher
      Abstract: The purpose of this paper is to analyse the relationship between financial inclusion, banking stability and economic growth in sub-Saharan African countries given the interconnectedness between them. Globally, financial inclusion has gained recognition as a critical channel for promoting economic growth by bringing a large proportion of the unbanked population into the formal financial system. This cannot be achieved exclusive of the banking sector. This paper focussed on 18 countries in sub-Saharan Africa. Data on financial inclusion and the economy were obtained from the World Bank, and bank soundness indicators data were also obtained from International Monetary Fund covering the 11-year period from 2008 through 2018. Panel system generalised method of moments is employed for the regression analysis because it has the capability to produce unbiased and consistent results even if there is endogeneity in the model. The results show that economic growth drives banking stability and not vice versa; confirming a unidirectional causality from gross domestic product to banking stability. So, this study finds support for the demand-following hypothesis. The paper further observed that financial inclusion positively and significantly influences the stability of banks and economic growth. The study established that bank capital regulation negatively influences banking stability in sub-Saharan African countries. This study does not capture the unique country-specific relationship. The policy implication is that policymakers in sub-Saharan African countries should focus on growth-enhancing policies that improve the level of financial inclusion. The central banks in sub-Saharan African countries should take advantage of the positive effect of financial inclusion to develop regulatory frameworks and policies that make it attractive for banks to continue to expand their operations to the unbanked. This is, as far as the authors know, the explanation of the interconnection of financial inclusion, banking stability and economic growth in sub-Saharan Africa.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-08-24
      DOI: 10.1108/JEAS-05-2021-0084
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Training characteristics and employees' performance among the nurses in
           Pakistan

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      Authors: Mitho Khan Bhatti , Bahadur Ali Soomro , Naimatullah Shah
      Abstract: This paper aims to explore the training characteristics and employees' performance among the nurses in Pakistan. The study employed cross-sectional data through random sampling of trained health nurses from the Government sector hospitals of Pakistan. The survey questionnaire is applied as the primary tool to acquire data. In total, the authors utilized 306 valid cases to infer the final results. The structural equation modeling (SEM) underlines a positive and significant impact of cognitive ability and performance goal on employees' performance. On the other hand, there is an insignificant impact of motivation to learn on performance among the nurses of Pakistan. Broadly, the findings of the study would provide some new insights to understand the performance of nurses in the health care sector through the outcomes of the training characteristics. Further, the results would be a way out to make a better quality of health care enhanced with the support of training. It may contribute to the growth in quality of work and improve work productivity by boosting up and uplifting training characteristics. The research arena would enrich the inclusive theoretical framework of performance and contribute to the domain literature and methodological validation. The study confirms the role of training characteristics towards performance among the nurses of the public health sector of Pakistan. The investigation would further validate the impact of cognitive ability and the motivation to learn and performance goals on performance globally.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-08-19
      DOI: 10.1108/JEAS-02-2021-0026
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Risk-taking and risk aversion in the period of before and after the 2008
           crisis: evaluation with bibliometric analysis

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      Authors: Selim Aren , Hatice Nayman Hamamci
      Abstract: This study aims to quantitatively classify the articles with risk-taking and risk aversion keywords and to investigate whether there is a similar emphasis in articles as parallel to the change in risk appetite in the market in the period before the crisis (bubble period) and after the crisis. In this study, a bibliometric analysis of the articles in which the keywords risk-taking and risk aversion are mentioned together with the word finance in the journals scanned in the Web of Science between 2004 and 2012 was performed. In this context, 936 articles were specified. Analyses were made using the CiteSpace Java program. The three journals with the most articles with these characteristics are Journal of Banking and Finance, Journal of Financial Economics and Strategic Management Journal. Along with these two main keywords, the other two most used keywords were “model” and “performance”. In addition, the keywords “attitude”, “corporate governance”, “choice” and “determinant” were used more in the post-crisis period. On the other hand, concepts such as investor sentiment or emotions were not amongst the 10 most frequently used keywords during the nine years. This can be considered as an indicator that risk is being modelled, but emotions are relatively neglected. As a result, the findings of this study show that academic papers do not develop in connection with the mood and excitement in the market. This study is one of the first studies to examine the reflection of risk appetite in the market on academic papers on financial risk-taking and aversion and to investigate whether the situation in the market and the development in publications are related.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-08-19
      DOI: 10.1108/JEAS-03-2021-0047
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Overestimation by misspecification: revisiting the relation between the
           unemployment rate and disability insurance claims in the USA

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      Authors: Herbert Smoluk , Rozhin Yousefvand Mansouri
      Abstract: Despite numerous studies, our understanding of the determinants of disability insurance (DI) claim rates in the USA is clouded. When the unemployment (UE) rate soars during an economic downturn such as the spread of COVID-19, assuming a linear positive relationship between the two variables, as the prior literature has suggested, forewarns a large spike in DI claim rates. Yet, if the model is misspecified, it can lead to misinformed decisions such as reducing DI awards during an economic downturn when such awards are needed the most. This study aims to improve the accuracy of the DI claims' prediction. This study suggests that the relationship between the UE rate and DI claim rate is nonlinear and examines this hypothesis using a panel dataset of 866 state-year observations from 2002–2018. The results provided compelling evidence in support of the proposed quadratic relationship between the UE rate and DI claim rate and revealed that compared to a quadratic model, the linear model overestimated the DI claim rate by approximately 18 percent or 172,000 claims per year. Given that DI awards represent hundreds of thousands of dollars in present value terms, the impact of increase in DI claims on the Social Security Disability Fund during an economic downturn might not be as high as some model might forecast. To our knowledge, no other studies have examined a quadratic relationship between the UE rate and the DI claim rate. This study is especially relevant during the coronavirus (COVID-19) pandemic and its aftermath. In April 2020, the UE rate spiked to nearly 15 percent nationwide, with Nevada and Michigan at 28 percent and 22.7 percent, respectively. The nonlinear model used in this study suggests that, as the UE increases, DI claims increase, albeit at a decreasing rate. On the contrary, a linear relationship between the UE rate and DI claim rates implies that the increase in the DI claim rate would be constant regardless of the UE rate. This misspecification can result in misinformed decisions, such as the reduction of DI awards because of the overestimation of claims during economic downturns. This can lead to lower award rates during economic turmoil when this assistance is most needed.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-08-19
      DOI: 10.1108/JEAS-04-2021-0073
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Financial development, entrepreneurship and financial openness: evidence
           from Asia

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      Authors: Ali Amin , Rizwan Ullah Khan , Arif Maqsood
      Abstract: This study examines whether financial development affects entrepreneurship, and how financial openness moderate this relationship. The study employs panel data consisting of 781 country-year observations of 48 countries of Asia for the period 2001–2018. The study provides empirical support for the eclectic theory of entrepreneurship in Asian countries. The findings of the study indicate that effective allocation of resources and ease of transactions increases the entrepreneurial activities in the country. Additionally, the less stringent regulations, allowing for the cross border transactions, increase the funds availability to the entrepreneurs which in turn increase innovation and establishment of new businesses. The study only considered the moderating influence of financial openness on the nexus. Other indicators such as governance quality and political stability could also have significant impact on entrepreneurship. Further, our study was based on countries belonging to Asian continent. Since Asian continent has culture distinguished from other regions, therefore, the results cannot be generalized to the other continents. The study’s results provide insight to policymakers and regulators that in order to increase the entrepreneurial activities, the financial sector improvement is of paramount importance. The regulators should focus on well-functioning financial system and availability of capital to improve the investor's confidence and boost economic activities. The study provides novel evidence on the effects of financial development on entrepreneurship and moderating influence of financial openness in the context of the entire Asian region, which is yet an unexplored area. This paper offers a fresh contribution in this area.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-08-17
      DOI: 10.1108/JEAS-05-2021-0080
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Natural resources and wealth inequality: a cross-country analysis

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      Authors: Sosson Tadadjeu , Henri Njangang , Simplice Asongu , Yann Nounamo
      Abstract: This study investigates the impact of natural resources on wealth inequality as a first attempt on a panel of 45 developed and developing countries. Using the generalized method of moments (GMM), the results provide strong evidence that natural resources increase wealth inequality within a linear empirical framework. These results are robust to the use of alternative natural resources and wealth inequality measures. Additionally, a nonlinear analysis provides evidence of an inverted U shaped relationship between natural resources and wealth inequality. The net effect of enhancing natural resources on wealth inequality is positive and building on the corresponding conditional negative effect, the attendant natural resource thresholds for inclusive development are provided. It follows that while natural resources increase wealth inequality, some critical levels of natural resources are needed for natural resources to reduce wealth inequality. To the best of knowledge, this is the first study to assess how enhancing natural resources affect wealth inequality.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-08-02
      DOI: 10.1108/JEAS-05-2021-0099
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Does agri-business/small and medium enterprise investment scheme (AGSMEIS)
           impact on youth entrepreneurship development in sub-Saharan Africa'
           Evidence from Nigeria

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      Authors: Nduka Elda Okolo-obasi , Joseph Ikechukwu Uduji
      Abstract: The purpose of this paper is to critically examine the agri-business/small and medium investment schemes (AGSMEIS) in Nigeria. Its special focus is to investigate the impact of the AGSMEIS on youth entrepreneurship development in Nigeria. This paper adopts a survey research technique, aimed at gathering information from a representative sample of the population, as it is essentially cross-sectional, describing and interpreting the current situation. A total of 1,200 respondents were sampled across the six geopolitical zones of Nigeria. The results from the use of a combined propensity score matching (PSM) and logit model indicate that AGSMEIS initiative generates significance gains in empowering youths in enterprise development, and if enhanced will help many young people become entrepreneurs. This suggests that AGSMEIS initiative can facilitate youth's access to credit and help them become owners of small and medium enterprises. It implies that investing in young people for small and medium enterprises could bring Nigeria into the modern economy and lift sub-Saharan Africa out of poverty. This research adds to the literature on youth entrepreneurship development’s debate in developing countries. It concludes that targeting the young people in AGSMEIS should form the foundation of public policy for entrepreneurship, poverty alleviation, and economic development.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-07-28
      DOI: 10.1108/JEAS-05-2021-0094
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Are business schools at small liberal arts universities cost prohibitive
           or cost savvy'

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      Authors: Timothy J. Wilkinson , Candice L. Correia , Michael Williams
      Abstract: Financial struggles affecting universities across the United States have caused debate about whether business schools are cost prohibitive or cost savvy, especially for small liberal arts universities that lack large endowments and are highly dependent upon student enrolment. In other words, are they too expensive for small schools to operate' The presence of a business school necessitates hiring business faculty with comparatively high salary expectations. This paper analyses the cost effectiveness of business schools at four small liberal arts universities. Our results show that cost is most strongly correlated with class size and adjunct instruction as opposed to faculty salaries. Thus, class size and the implementation of adjunct instruction can make having a business school not only affordable but also advantageous. Business schools offer a way for universities with missions centred around developing the whole person through a liberal arts education to remain a going concern in such a volatile climate. This paper uses proprietary data to analyse the cost of faculty in different disciplines.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-07-26
      DOI: 10.1108/JEAS-02-2021-0019
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • The nexus between capital structure and firm-specific factors: evidence
           from Indian companies

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      Authors: Mohit Pathak , Arti Chandani
      Abstract: The aim of this study is to empirically examine firm-specific factors that influence the financing decisions of companies listed on BSE-500 index. Firm-specific variables such as profitability, company size, growth potential, liquidity, non-debt tax shields, age and tangibility were evaluated in this study. This empirical research is performed using longitudinal data of 366 companies listed on the BSE 500 index during 2006–2020. Pooled ordinary least square method is employed to classify primary determinants of capital structure. The results show that profitability, liquidity and non-debt tax shield are negatively associated whereas, company size, growth potential, age and tangibility are positively associated with the capital structure. The authors’ observations are aligned with either the trade-off hypothesis or the principle of the pecking order. This study helps to better understand how firm-specific factors play a vital part in deciding the capital structure of businesses and makes a significant contribution to the literature. Thus, the present study examines the drivers of the capital structure among sample Indian companies, which allow firm managers and regulators to recognise relevant variables that optimise performance. This study is limited to Indian companies and only firm-specific variables were considered. The current research focuses on the impact of firm-specific variables upon the financing decisions of Indian companies. In the background of developed countries, numerous studies in this field have been carried out. In the Indian context, however, there are not many researches in this area. However, the existing studies use one or two ordinary least square (OLS) models, resulting in a lack of thorough research and robust results. To address this gap in the analysis, the current study used four models and used a 15-year time frame, as well as a bigger sample size, which was not used in earlier investigations.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-07-26
      DOI: 10.1108/JEAS-02-2021-0028
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Examining investors' sentiments, behavioral biases and investment
           decisions during COVID-19 in the emerging stock market: a case of Pakistan
           stock market

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      Authors: Shagufta Parveen , Zoya Wajid Satti , Qazi Abdul Subhan , Nishat Riaz , Samreen Fahim Baber , Taqadus Bashir
      Abstract: This study investigates the impact of the COVID-19 pandemic on investors' sentiments, behavioral biases and investment decisions in the Pakistan Stock Exchange (PSX). The authors have assessed investors' behaviors and sentiments and the stock market overreaction during COVID-19 using a questionnaire and collected data from 401 investors trading in the PSX. Results of structural equation modeling revealed that the COVID-19 pandemic affected investors' behaviors, investment decisions and trade volume. It created feelings of fear and uncertainty among market participants. Evidence suggests that behavioral heuristics and biases, including representative heuristic, anchoring heuristic, overconfidence bias and disposition effect, negatively influenced investors' decisions at the PSX. This study will contribute to behavioral finance literature in the context of developing countries as it has revealed the impact of COVID-19 on the emerging stock market, and its results are generalizable to other emerging stock markets. The findings of this study will help academicians, researchers and policymakers of developing countries. Academicians can formulate new behavioral models that can depict the solutions of dealing with an uncertain situation like COVID-19. Policymakers like the Securities Exchange Commission and the PSX can formulate crisis management strategies based on behavioral finance concepts to cope with situations like COVID-19 in the future and help lessen investors' losses in the stock markets. The role of the Securities Exchange Commission is crucial as it regulates the financial markets. It can arrange workshops to educate investors to manage their decisions during crisis time and focus on the best use of irrational and rational decision-making at the same time using Lo (2004) adaptive market hypothesis. The novelty of the paper is that the authors have introduced overconfidence and disposition effect as mediators that create a connection between representative and anchoring heuristics and investment decisions using primary data collected from investors (institutional and retail) to demonstrate the presence of psychological biases during COVID-19, and it has been done for the first time according to authors' knowledge. It is a contribution and addition to the behavioral finance literature in the context of developing countries' stock markets and their efficiency.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-07-26
      DOI: 10.1108/JEAS-08-2020-0153
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Impact of income diversification strategy on credit risk and market risk
           among microfinance institutions

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      Authors: King Carl Tornam Duho , Divine Mensah Duho , Joseph Ato Forson
      Abstract: This study explores the effect of income diversification strategy on credit risk and market risk of microfinance institutions (MFIs) in Ghana as an emerging market. The study is based on quarterly data of averagely 271 MFIs that have operated from 2016 to 2018. The dataset is unbalanced and pooled cross-sectional with 3,259 data points. The study measures the diversification strategy using income diversification indices, and accounting ratios to measure the other variables. We utilised the weighted least squares (WLS) approach to explore the nexus. The findings show that income diversification is associated with better loan quality and credit risk management. Market risk increases with the level of income diversification of microfinance firms. It is evident that large MFIs can manage their credit risks well and can have a low default rate, depicting an overall U-shaped nexus. On the other hand, the effect of size on market risk is an inverted U-shaped. The effect of asset tangibility on credit risk is positively significant while the effect on market risk is negatively significant. High profitability enhances credit risk management leading to lower loan losses while in the case of diversified and profitable MFIs, they tend to invest more in government securities. The results suggest that MFIs that hold more cash and cash equivalents tend to have high loan loss provision and more government securities suggesting much attention should be paid to optimal cash management. The results throw light on the credit risk and market risk profile of the firms and the effect of diversification strategies on them. The findings are relevant for effective macroprudential regulation, market regulation and prudential regulation of the microfinance sector. The findings reveal the nature of income diversification strategy of MFIs in emerging markets such as Ghana, pointing out how they affect the risk exposure of MFIs that lend to the pro-poor population. This is a premier formal assessment of the nexus between income diversification strategies and risk management among MFIs that serve the pro-poor population in the emerging market context.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-07-20
      DOI: 10.1108/JEAS-09-2020-0166
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Tourism development dilemmas in Musina Municipality: evidence from the Big
           Tree Nature Reserve and neighboring entities, Vhembe district, South
           Africa

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      Authors: Azwindini Isaac Ramaano
      Abstract: This study assesses tourism development dilemmas about the Big Tree Nature Reserve (BNTR) with its neighboring tourism entities in Musina Municipality, Limpopo, South Africa. Data were obtained by interviews, questionnaires, focus group discussions and physical observation. Tacitly pertinent literature review propped and augmented the adopted approach. The examination exposed many hurdles correlated with tourism efforts around the BNTR and its adjoining tourism entities. The gains of tourism were not drawn into by the local communities within and around the study area. The determinants adding to the poor state of tourism professions got portrayed by the conclusions of the study. Therefore, there was an inherent necessity for a turnaround efficient tourism management to promote tourism initiatives to bolster local communities in the region. Musina Municipality constitutes a remote region in the north of Limpopo province, South Africa. Poor rural livelihoods are analogous to many rural districts within the continent. Despite all these, it substantially incorporates an essentially tourism-based area within the Vhembe district of Limpopo province.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-07-19
      DOI: 10.1108/JEAS-02-2021-0034
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Analysis of the two-way causal nexus between macroeconomic factors and
           infrastructure development: the experience of selected African countries

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      Authors: Chukwuebuka Bernard Azolibe
      Abstract: The purpose of this study is to analyze the two-way causal nexus between macroeconomic factors such as foreign aid, industrialization, economic growth, population growth, urbanization, control of corruption and the infrastructure development index of the top-ranking African countries from 2003 to 2018. The study adopts various econometric tools such as cross-sectional dependence test, panel unit root and cointegration test and Dumitrescu and Hurlin panel Granger causality test in ascertaining the relevant relationships between the variables under consideration. The main findings of the Granger causality test result revealed a bidirectional causal relationship between foreign aid and infrastructure and between urbanization and infrastructure. The study also found unidirectional causality running from population growth to infrastructure while a zero causal relationship existed between industrialization and infrastructure, economic growth and infrastructure and lastly, between control of corruption and infrastructure. The study concludes that the major macroeconomic factors that influence infrastructure development in these selected African countries are foreign aid, population explosion and urbanization. Also, their high infrastructure development index has causal influence in only attracting more foreign aid and also promoting urban expansion. To the best of the author's knowledge, the study is unique as it is the first to determine the two-way causal nexus between macroeconomic factors and infrastructure development using a sample of the top ten African countries in infrastructure ranking. The findings reflect the current situation in Africa.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-07-14
      DOI: 10.1108/JEAS-01-2021-0004
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Leader moral disengagement and follower knowledge hiding. A moderated
           mediation model of follower Machiavellianism and trust in the leader

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      Authors: Hakan Erkutlu , Jamel Chafra
      Abstract: This study aims to build a moderated mediation model to investigate the roles that trust in the leader and follower Machiavellianism can play in the relationship between moral disengagement of the leader and hiding of knowledge of the followers. Data were gathered from eight universities in Turkey using a set of 72 matched leader (dean)–follower (faculty member) questionnaires. The hypotheses were tested with multiple regression, moderated regression and bootstrapping analyses. The findings reveal that leader moral disengagement positively influences follower knowledge hiding, while trust in the leader mediates this influence and follower Machiavellianism not only moderates the relationship between leader moral disengagement and trust in the leader but also reduces the indirect relationship between leader moral disengagement and follower knowledge hiding through trust in the leader. Even though measurements of research variables were collected from different sources and with time separation, common method bias might have existed. Also, this research is carried out in a single cultural context posing the issue of the generalizability of our findings to other cultural contexts. The main contribution of this study is to construct and investigate a conceptual model that focuses on the possible effect of moral disengagement of the leader on knowledge hiding by the followers. Also, by supporting the mediating role of trust in the leader, this research reveals that followers of leaders with high moral disengagement are more prone to indulge in the hiding of knowledge. Moreover, the moderating role of follower Machiavellianism, found in this study, provides an additional understanding that followers may vary in the degree to which they are sensitive to the leader's influence.
      Citation: Journal of Economic and Administrative Sciences
      PubDate: 2021-07-07
      DOI: 10.1108/JEAS-05-2020-0060
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Journal of Economic and Administrative Sciences

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