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Journal of Economic and Administrative Sciences
Number of Followers: 2  Hybrid journal * Containing 2  Open Access article(s) in this issue *ISSN (Print) 1026-4116 - ISSN (Online) 2054-6246 Published by Emerald  [362 journals]
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- Financial market structure and capital controls in Sub-Saharan Africa
Open Access Article-
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Authors: Kofi Bondzie Afful, Tendai Gwatidzo, Mthokozisi Mlilo
Abstract: This study investigates the influence of capital controls on financial market structure in Sub-Saharan Africa (SSA). This is especially relevant as the former restrictions are relatively common on the sub-continent. At the same time, the sub-region’s financial markets are highly bank-based and focused on the short term, with stock markets being illiquid and stunted. To achieve its research objectives, the study posits an original model and uses comparative statics to analyze the relation between the aforestated phenomena in a representative SSA economy. Key hypothesized conclusions derived therefrom are tested using panel econometrics. The comparative static analysis illustrates that capital controls favor banks, making them monopolistic and inefficient. This is confirmed by the empirical investigation, as the said market restriction skews financial market structure towards a bank-dominated system. The study limits itself to capital controls and their effects on financial market structure. It does not particularly investigate the influence of different types of these restrictions. Specifically, it dichotomizes the influence of the examined controls on bank and stock markets. The dissimilar influence of capital controls on banks relative to stock markets is critical for decision and policymakers. This paper highlights that capital controls may have unintended adverse effects on domestic financial markets. Also, they may not be the most appropriate policy to deepen markets and enhance domestic resource retention. There is, consequently, a need to determine fitting policies that attract rather than repel financial flows. Furthermore, capital controls may engender rather than address macroeconomic misalignment. As a social imperative, it is necessary to analyze SSA’s framework of capital restrictions to better understand how they distort market incentives and mechanisms. This would help identify adverse effects that retard social development. This study extends existing literature by developing a novel analytical framework incorporating key characteristics of SSA economies. This helps to better understand the nature of the capital controls–financial market structure relation in imperfect market conditions.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-11-25
DOI: 10.1108/JEAS-07-2023-0201
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Examination of the effects of innovative work behavior and leadership
support on employees-
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Authors: Zafer Adiguzel, Fatma Sonmez Cakir, Irem Kucukoglu
Abstract: The purpose of the study is to examine the effects of innovative working behavior and leader support of employees in marketing and advertising companies, one of the sectors where creative ideas and innovative thoughts are common. Within the scope of the research, a questionnaire was applied to 443 authorized employees working in marketing and advertising companies headquartered in Istanbul in order to examine innovative work behavior and leader support. The collected data were analyzed using the SmartPLS 3.3.9 package program. As a result of the analysis of the collected data, it is supported by hypotheses that innovative work behavior and leadership support have positive effects on employees. It is not possible to make generalizations because a questionnaire was administered to 443 authorized employees working in marketing and advertising companies whose research centers are located in Istanbul. However, it should be taken into account as a source to provide a basic idea for future research. As a result of the analysis of the data collected from the marketing and advertising sectors, where creativity and innovation are common, it can be explained that innovative work behavior has positive effects, and that the positive effects continue with the effect of leader support on innovative work behaviors. The research is original since it is carried out in marketing and advertising companies where traditional activities are not accepted, constantly innovative ideas and thoughts are stated and innovative behavior of employees is important in terms of raising awareness.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-11-20
DOI: 10.1108/JEAS-05-2024-0171
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Bank market power and its determinants: evidence from listed conventional
commercial banks from Indonesia-
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Authors: Suman Das, Ambika Prasad Pati
Abstract: Over the past three decades, financial deregulation and various reforms have significantly transformed the competitive environment for banks in Indonesia. These changes have introduced new challenges for banks to retain their market power and ensure their survival. In light of this, the article aims to assess the current levels of market power held by Indonesian banks and explore the factors that influence it. The paper measured the degree of market power and identified its impacting factors for 22 listed commercial banks using the Adjusted Lerner Index (ALI) and appropriate regression technique over a period of 2011–2023. The empirical findings reveal that banks in Indonesia enjoy high market power, and factors such as capitalization, diversification, operational inefficiency, asset quality and GDP growth rate significantly impact banks’ market power. Additionally, the findings contradict the structure-conduct-performance paradigm, which advocates that a concentrated banking system impairs competition. The study suggests that regulatory authorities should closely monitor the market power levels and promote strategies to enhance competition within the banking sector. Additionally, banks should prioritize implementing measures to reduce operational costs and improve the quality of assets. This research represents one of the early attempts to gauge the market power of publicly listed conventional commercial banks in Indonesia by employing the Adjusted Lerner Index. Additionally, it introduces “technology adoption” as a novel variable to the analysis alongside other established variables.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-11-19
DOI: 10.1108/JEAS-04-2024-0106
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Carbon omission and financial market sustainability via government
effectiveness: a cross-culture comparison of OECD and Asian emerging
economies-
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Authors: Saqib Muneer, Awwad Saad AlShammari, Khalid Mhasan O. Alshammary, Muhammad Waris
Abstract: Financial market sustainability is gaining attention as investors and stakeholders become more aware of environmental, social and governance issues, pushing demand for responsible and ethical investment practices. Therefore, this study aims to investigate the impact of carbon (CO2) emissions from three sources, oil, gas and coal, on the stock market sustainability via effective government policies. The eight countries belong to two different regions of world: Asian economies such as Pakistan, India, Malaysia and China, and OECD economies such as Germany, France, the UK and the USA are selected as a sample of the study. The 22-year data from 2000 to 2022 are collected from the DataStream and the World Bank data portal for the specified countries. The generalized methods of movement (GMM) and wavelet are used as the econometric tool for the analysis. Our findings show that the CO2 emission from coal and gas significantly negatively impacts stock market sustainability, but CO2 emission from oil positively impacts stock market sustainability. Moreover, all the emerging Asian economies’ CO2 emissions from coal and gas have a much greater significant negative impact on the stock market sustainability than the OECD countries due to the critical situation. However, the government’s effective policies have a positive significant moderating impact between them, reducing the effect of CO2 emission on the stock market. This study advocated strong implications for policymakers, governments and investors. Effective government policies can protect the environment and make business operations suitable, leading to market financial stability. This study advocated strong implications for policymakers, governments and investors. This study provides fresh evidence of the government’s effective role to control the carbon environment that provide the sustainability to the organizations with respect to OECD and emerging economy.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-11-05
DOI: 10.1108/JEAS-05-2024-0161
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Does ICT adoption influence the bank’s risk-taking behavior' Evidence
from advanced, developing and emerging nations-
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Authors: Saeed Sazzad Jeris, Md. Anzir Hossain Rafath, Must. Ayesha Shahrin, Majed Alharthi
Abstract: This is the first attempt to investigate the impact of information and communication technology (ICT) on the risk-taking behavior of banks. This study considers 74 advanced, developing and emerging countries in the period of 2010–2021. The study considers internet use, mobile subscriptions, broadband access and ATM availability as ICT indicators, while using bank Z_score as a proxy for risk-taking. To get comprehensive insights, pooled OLS, fixed effect models and generalized methods of moments (GMM) are applied. It is found that ICT has a consistently positive influence on the risk-taking behavior of banks in advanced, developing and emerging countries. Notably, internet users and broadband access have a bigger impact in advanced economies, but mobile cellular subscriptions and ATMs are more significant in developing and emerging countries. Other factors, such as GDP growth and market capitalization, positively influence the bank’s risk-taking approaches, but the cost-to-income ratio and inflation have an inverse connection. This will provide useful advice to the government, bank executives, financial regulators, policymakers, regulators, academicians, technology developers and other relevant stakeholders who want to maximize the advantages of ICT in the banking sector while reducing related risks. This is the first study to examine the impact of ICT on banks’ risk-taking approaches in advanced, developing and emerging countries.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-11-05
DOI: 10.1108/JEAS-05-2024-0163
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- The relationship between government expenditure on agriculture and
agriculture production-
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Authors: Ernest Sogah, John Kwaku Mensah Mawutor, Isaac Ofoeda, Freeman Christian Gborse
Abstract: The impact of government expenditure on economic performance has been a topic of discussion at both the sectoral and aggregate national levels. Despite its theoretical importance, evidence from literature indicates that this relationship has not been universally accepted across different countries and sectors. Given the significance of agriculture in African economies, particularly in Ghana, and the role of government in this sector, this study examines the impact of government expenditure on agricultural productivity in Ghana from 2000Q1 to 2022Q4. Specification of the model was done based on the Autoregressive Distributed Lag (ARDL) cointegration bound test approach. The results revealed that the studied variables cointegrated in the long run. Government expenditure was found to induce agriculture production both for the long run and short run within the period of the study, implying that government expenditure matters in inducing agriculture productivity in Ghana. The study employed the ARDL methodology to investigate government expenditure and agriculture production contagion in Ghana, which has been specifically overlooked by previous studies. It is suggested that the Government of Ghana as well as others in similar environment should increase investment into the agriculture to boost the productivity of the sector.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-11-01
DOI: 10.1108/JEAS-06-2023-0163
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Retraction notice: The influence of spiritual leadership on spirituality,
conscientiousness and job satisfaction and its impacts on the reduction of
workplace deviant behavior-
Free pre-print version: Loading...Retraction notice: The influence of spiritual leadership on spirituality, conscientiousness and job satisfaction and its impacts on the reduction of workplace deviant behavior
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-Journal of Economic and Administrative Sciences2024-10-18
DOI: 10.1108/JEAS-09-2024-0381
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Indian human capital index: cross states disparity
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Authors: Sheetal Mundra, Jaishree Sharma, Archana Patro
Abstract: Human capital is an essential element for sustainability in the knowledge economy. Human capital index (HCI) is a measure of the quantity and quality of education, health and survival components of the human capital of a country or a region. This study aims to calculate HCI for 28 states and seven union territories of India and explore disparity among these on different HCI indicators. The World Bank methodology is used to calculate survival and education components of the HCI whereas, health component is based on secondary data due to data limitations. Based on control charts of mean with three sigma limits, the performance of each state and union territory is assessed for a given HCI parameter and classified as good, average or below average. For survival parameter of HCI, 10 states are above average limit, 10 are within the average limit and 15 states are below the average limit. Contrary, 15 states are within the average limit in the education parameter of HCI. The states are almost equally divided in all the three categories for health parameter of HCI. Overall, Kerala tops the list, but Uttar Pradesh and Bihar have the worst performance in all three parameters of HCI. This attempt to identify disparity in state wise HCI is a significant contribution that can guide policymakers to formulate effective and specific policies that are inclusive of different perspectives and promote country’s growth.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-10-10
DOI: 10.1108/JEAS-10-2023-0270
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Capital structure determinants of private and public firms in an emerging
economy: a panel data quantile regression analysis-
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Authors: Adriana Bruscato Bortoluzzo, Antonio Zoratto Sanvicente, Maurício Mesquita Bortoluzzo
Abstract: This study explores distinct capital structure patterns between private and public companies, examining the varying influence of determinants on debt choices contingent upon a firm’s existing debt position. Employing annual data from 2012 to 2022 for 142 public firms and 660 private firms in a large emerging economy, we use quantile regression within a panel data framework to study the heterogeneous effects of debt determinants, incorporating firm and time random effects. Our findings indicate that such factors as size and operating margin contribute to higher levels of debt, while investment opportunities reduce the debt level. Further analyses, when accounting for a firm’s likelihood of being publicly traded, reveal that dividend payout and operating margin significantly influence debt levels, exclusively in the presence of high debt proportions. Conversely, investment opportunities emerge as a substantial determinant in all debt scenarios. In addition, we found a strong persistence in the indebtedness of companies, and we conclude that the effect of the determinants of indebtedness is heterogeneous according to the level of debt of companies. This research provides a comprehensive comparison between private and public firms, not only in terms of debt levels but also in key capital structure determinants, highlighting their significance within the context of varying debt levels.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-10-08
DOI: 10.1108/JEAS-10-2023-0276
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Assessing competition in the Turkish cement industry: insights from
the Boone indicator-
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Authors: Hakan Yıldız, Yılmaz Köprücü, Serkan Şengül
Abstract: This paper investigates the degree of competitiveness within the Turkish cement industry, employing firm-level quarterly data spanning from 2008 to 2016. To assess the level and trajectory of competition among Turkish cement firms, we employ the Boone indicator (β) as formulated by Boone (2008). This indicator, rooted in the concept of relative profit differences (RPD), serves as a robust metric for gauging competitive dynamics. According to the ß indicator, firms exhibiting higher relative efficiency are expected to secure greater profits and market shares in a fiercely competitive market. Additionally, we utilize concentration indices for the purpose of revealing comparable findings. Empirical findings reveal that an enhancement in firms' efficiency corresponds to a proportionally modest increase in either market share or profits, implying a lower degree of competition within the Turkish cement industry. Although the specific magnitudes of ß estimates exhibit temporal fluctuations, we may conclude that the Turkish cement industry does not conform to the ideals of perfect competition. The concentration indices calculated on the sample also support this result. This research is limited to the Turkish cement companies over the period 2008–2016. The studies measuring the level of competition in the Turkish cement sector are generally based on concentration ratios. In this study, we assess the competition level by using a different methodology based on parametric procedures.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-09-30
DOI: 10.1108/JEAS-10-2023-0280
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Impact of the Israel–Hamas conflict on financial markets of MENA region
– a study on investors’ reaction-
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Authors: Rizky Yudaruddin, Dadang Lesmana, Yanzil Azizil Yudaruddin, İbrahim Halil Ekşi̇, Berna Doğan Başar
Abstract: This study aims to examine market reactions to the Israel–Hamas conflict in neighboring countries, particularly focusing on the Middle East North Africa (MENA) region. The study adopts an event study methodology, employing average abnormal return (AAR) and cumulative abnormal return as measures to assess market reactions. The sample for this study comprises 1,314 companies, with October 9, 2023, identified as the event day for analysis. The results of our study indicate that countries in close proximity to Israel and Palestine encountered detrimental effects on their capital markets, as evidenced by negative responses observed across various sectors. Our analysis also reveals that countries in the midst of conflict, particularly Israel, experienced a decrease in their stock markets across various sectors, with the exception of materials and real estate. In addition, our investigation reveals disparities in market responses according to different categories of company size. This research is the first to study market reactions to Israel–Hamas in the MENA region at the company level.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-09-24
DOI: 10.1108/JEAS-04-2024-0104
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Exploring the impact of key audit matters on audit report lag: insights
from an emerging market-
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Authors: Abdullah Alawadhi, Abdulrahman Alrefai, Ahmad Alqassar
Abstract: The purpose of this study is to examine the impact of key audit matters (KAMs) on the timeliness of financial statement reporting, measured as audit report lag (ARL), within the context of Kuwait's evolving financial market. Using a sample of 136 unique firms and 841 firm-year observations over the period 2016–2022, the study employs a random effects model on a panel data set to examine the correlation between the number and type of KAMs disclosed in audit reports and the length of ARL. In addition, we employ sub-sample analysis and two-stage least squares (2SLS) regression to enhance overall reliability. The results indicate a positive relationship between an increased number of reported KAMs and the length of ARL. Specific categories of KAMs, such as those related to investments and the implementation of new standards, also significantly impact the delay. Additionally, the findings reaffirm the importance of several determinants of ARL, which is consistent with prior research. This study is among the first to offer new insights by examining the relationship between both the number and specific types and/or categories of KAMs on ARL in emerging markets.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-09-19
DOI: 10.1108/JEAS-01-2024-0013
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Integrating and extending the SOR model, TAM and the UTAUT to assess
M-commerce adoption during COVID times-
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Authors: Muhammad Zafar Yaqub, Saeed Badghish, Rana Muhammad Shahid Yaqub, Imran Ali, Noor Sahar Ali
Abstract: This study aims to integrate and extend leading contemporary underpinning frameworks such as the Stimulus Organism Response (S-O-R) model, Technology Acceptance Model (TAM) and Unified Theory of Acceptance and Use of Technology (UTAUT) to assess the determinants of M-commerce usage during COVID-19 times. Besides direct effects, the study examines the mediating role of behavioral intention in affecting the relationship between a few external stimuli, internal states (of the organism) and M-commerce usage (the response). The study has also examined the moderating role of habitual behavior in the relationship between behavioral intention and M-commerce usage. Data were gathered from 312 customers through an online survey using a structured questionnaire. PLS-based SEM, using Smart PLS 4.0, was employed to calibrate the measurement and structural models. The study found that stimuli like social influence, perceived ease of use and perceived value substantially affected M-commerce usage. Behavioral intention has been found to mediate these cause-and-effect relationships partially or fully among the subject constructs. Additionally, a significant negative but weak moderating impact of habit (or habitual behavior) on the relationship between behavioral intentions and M-commerce usage has been corroborated. Several studies have investigated the factors influencing the adoption and continued usage of M-commerce services while appealing to diverse theoretical frameworks. However, more research has yet to be expended to arrive at an integrated explanation grounded in these theoretical frameworks to examine the dynamics of M-commerce usage in tempestuous times like the COVID-19 outbreak. The most significant (counterintuitive) findings have been suppressing the effects of otherwise crucial elements like perceived security and habit in prompting M-commerce usage in the face of the socio-psychological pressures stemming from COVID-19 restrictions and consumers' lack of digital readiness. The study's outcomes offer several theoretical and practical implications for researchers, managers, practitioners, businesses and policymakers to develop effective strategies to mature M-commerce usage among the masses, especially during unusual times like COVID-19.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-09-16
DOI: 10.1108/JEAS-09-2023-0259
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Ethical leadership and reporting behavior of employees: social cognitive
perspective of morality on the bases of emotions-
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Authors: Mariam Farooq, Farah Khan
Abstract: The present study seeks to examine the impact of ethical leadership on employees’ voice behavior and internal whistleblowing in organizations. Specifically, the study investigates the mediating role of moral emotions in the link between ethical leadership and employees’ reporting behaviors such as voice behavior and internal whistleblowing. This research utilized a sample of 200 employees from various private companies in Pakistan, gathering data via questionnaires to validate the hypotheses. We employed Structural Equation Modeling (SEM) to evaluate the model and conducted a mediation analysis using 5,000 bootstrap samples. This research found that ethical leadership positively impacts employees' moral emotions, encouraging them to voice concerns and report misdeeds. Additionally, the study affirms a direct and positive connection between ethical leadership and employees' reporting behaviors, including voice behavior and internal whistleblowing. The findings of the study emphasized the development of ethical leadership in organizations by highlighting the critical role of ethical leadership in enhancing moral emotions, voice behavior, and whistleblowing in organizations. It highlights the necessity of promoting moral behavior to enhance organizational effectiveness and the need for ethical leaders to foster an open environment in organizations that encourages whistle bellowing and reporting of unethical practices in organizations. The current paper extends knowledge of ethical leadership based on the social cognitive theory of morality by considering that moral emotions serve as a strong motivational cognition between ethical leadership and reporting behaviors. Particularly, by examining the mediating role of moral emotion, this study provides a deeper understanding of the underlying mechanism through which ethical leadership influences reporting behaviors of employees at workplace.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-09-13
DOI: 10.1108/JEAS-02-2023-0039
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- The impact of COVID-19 stringency measures on emerging stock market
stability: Does economic resilience matter'-
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Authors: Hind Lebdaoui, Ikram Kiyadi, Fatima Zahra Bendriouch, Youssef Chetioui, Firdaous Lebdaoui, Zainab Alhayki
Abstract: The current research aims to investigate the impact of coronavirus 2019 (COVID-19) evolution, government stringency measures and economic resilience on stock market volatility in the Middle East and North African (MENA) emerging markets. Other macroeconomic factors were also taken into account. Based on financial data from 10 selected MENA countries, we tested an integrated framework that has not yet been explored in prior research. The exponential generalized autoregressive conditional heteroskedasticity (E-GARCH) was adopted to analyze data from March 2020 to February 2022. Our research illustrates the direct and indirect effects of the virus outbreak on stock market stability and reports that economic resilience could alleviate the volatility shock. This finding is robust across the various proxies of economic resilience used in this study. We also argue that the negative impact of the pandemic on equity market variation gets more pronounced in countries with higher level of stringency scores. Policymakers ought to strengthen their economic structures and reinforce the economic governance at the national level to gain existing and potential investors’ trust and ensure lower stock market volatilities in times of crisis. Our study also recommends some key economic factors to consider while establishing efficient policies to tackle unexpected shocks and prevent financial meltdowns. Our findings add to the evolving literature on the reaction of economic and financial markets to the sanitary crisis, particularly in developing countries where research is still scarce. This study is the first of its kind to investigate the stock market reaction to stringency measures in the understudied MENA region.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-09-03
DOI: 10.1108/JEAS-04-2023-0083
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Unraveling stock exchange connections: an empirical study of India, US,
Hong Kong, Germany, France and Amsterdam-
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Authors: Silky Vigg Kushwah, Payal Goel, Mohd Asif Shah
Abstract: The current study immerses itself in the realm of diversification prospects within a select group of preeminent global stock exchanges. Specifically, the study casts its discerning gaze upon the financial hubs of the United States, Hong Kong, Germany, France, Amsterdam and India. In this expansive vista of international financial markets, the present analytical study aims to unravel the multifaceted opportunities that lie therein for astute portfolio management and strategic investment decisions. The study encompasses daily time series data spanning from 2019 to 2022. To assess the interconnectedness among these stock indices, advanced statistical techniques, including Johansen cointegration methods and vector autoregressive (VAR) models, have been applied. The research outcomes reveal both unidirectional and bidirectional relationships between the Indian, Hong Kong and US stock exchanges, encompassing both short-term and long-term time frames. Interestingly, the empirical findings indicate the presence of diversification opportunities between the Indian stock exchange and the stock exchanges of Germany, France and Amsterdam. These insights hold significant value for both Indian and international investors, including foreign institutional investors (FIIs), domestic institutional investors (DIIs) and retail investors, as they can utilize this knowledge to construct more effective and diversified investment portfolios by understanding the intricate interconnections between these prominent global stock exchanges. This research undertaking aspires to bring coherence to a landscape rife with divergent interpretations and methodological divergences. We are poised to offer a comprehensive analysis, a beacon of clarity amidst the murkiness, to shed light on the intricate web of interconnections that underpin the world's stock exchanges. In so doing, we seek to contribute a seminal piece of scholarship that transcends the existing ambiguities and thus empowers the field with a deeper understanding of the multifaceted dynamics governing international stock markets.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-08-30
DOI: 10.1108/JEAS-09-2023-0250
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- The aspects of behavioral finance with new insights: an analysis of
individual investors at Pakistan Stock Exchange (PSX)-
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Authors: Sara Munir, Mazhar Farid Chishti, Rizwana Bashir
Abstract: The cognitive biases exhibited by investors could hinder their capacity for logical reasoning and impact their perception and reaction to information when making financial choices. So, this study was done to identify the behavioral biases that hinder investors' sound decision-making at the Pakistan Stock Exchange (PSX). A cross-sectional study was undertaken employing a causal research design approach. Questionnaires were administered to individual investors of the PSX as the data collection methodology. The data were subsequently analyzed through the utilization of the Smart PLS Structural Equation Modeling (SEM) technique. The results suggest that information factors and cognitive biases, namely home bias, geographical bias, investor sentiment, salience, and over/under reaction have a positive association with the investors' choices at PSX. The study’s emphasis is on the impact of behavioral biases on individual investors only, even though such biases also influence the investment decisions of institutional investors. The study holds implications for scholars engaged in the field of behavioral finance as well as professionals involved in the stock market, particularly those interacting with individual investors and personal finance. Additionally, the current study will take into account investors, financial advisors, practitioners, policymakers, investment experts, stakeholders or target groups, etc. to support various groups in their professional activity and to help them overcome such biases that influence their sound decision-making power. The innovative aspect of this research is its ability to advance the understanding of the conceptual underpinnings and social structure of behavioral biases by critically analyzing the body of prior research and adding value to the existing body of literature on behavioral finance in Pakistan by investigating the combined impact of never-studied variables, i.e. geographical bias and information variables, understudied behavioral variables, i.e. home bias and salience and studied variables, i.e. investor sentiment and over/under reaction on individual investor investment decisions at PSX.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-08-27
DOI: 10.1108/JEAS-11-2023-0306
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Sector-wise earning differential: empirical evidence on segmentation
theory from Pakistan-
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Authors: Shumaila Riaz, Muhammad Zahir Faridi
Abstract: Segmentation theory argues that the labor market is composed of a variety of non-competing segments between which rewards to human capital are determined by institutional structures. This paper presents new evidence on sector-wise earning differential for both male and female samples to assess the implications of segmentation theory. Primary data is collected through simple random sampling technique with a survey questionnaire from 954 employed individuals of Southern Punjab, the less developed region of Pakistan. OAXACA decomposition technique is adopted to estimate earning differential. Empirical estimates of OAXACA decomposition reveal that the extent of discrimination between public and private sector is greater in case of females than in male samples. Education and region are crucial factors behind sector-wise earning differential for both male and female samples. Job characteristics are more valued than occupation to explain sector-wise earning differential. Occupation largely contributes to explain public–private sector earning differential in male sample than in female sample. Moreover, job security is highly valued by females than males. Segmentation of the institutional structure in a developing economy is empirically verified by using primary data due to non-availability of data on some variables from secondary data sources. This study attempts to explore the key factors of public–private sector wage differential for male and female samples separately due to the differences in their preferences for work and earning functions.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-08-15
DOI: 10.1108/JEAS-10-2023-0286
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Institutional framework of earnings management in emerging economies – a
systematic literature review using bibliometric analysis-
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Authors: Manasi Gokhale, Deepa Pillai
Abstract: The present study aims to assess the key institutional settings for earnings management (EM) in emerging economies (EE). The unique social, cultural and regulatory environment of EE provides a relevant framework for the review. The study combines systematic literature review (SLR) with bibliometric analysis to analyse 251 articles extracted from the Scopus database, covering the period from 2001 to 2023. Further, cluster analysis using bibliographic coupling of highly cited articles is undertaken to ascertain key themes on EM in EE. The study deciphers the influence of institutional transitions and differences in EE on (1) ownership structures, (2) the efficacy of accounting, auditing and governance reforms, (3) environmental and social disclosures and (4) audit quality at the firm level in defining the EM practices in these economies. It also identifies region/country-wise institutional similarities and divergences across the EE that drive the EM practices in these economies. The key findings of the review provide essential guidelines for policy formulation concerning rationalization of the ownership structures, strengthening infrastructure relating to accounting and auditing practices and formalizing social and environmental practices and disclosures for effectively constraining EM in EE. The review also identifies key factors to be considered by potential investors in EE. The study is one of its kind as it identifies unique country-specific institutional drivers for EM in EE and highlights region/country-wise resemblances and differences in the key institutional determinants of EM.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-08-09
DOI: 10.1108/JEAS-08-2023-0208
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Impact of financial inclusion on healthcare access: evidence from
developing countries-
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Authors: Nazish Malak, Ameena Arshad
Abstract: The aim of this study is to explore how financial inclusion can impact healthcare access in developing countries using panel data for the period 2004–2022. To check the impact of financial inclusion on healthcare access, the estimation techniques used are the fixed-effect model (FEM), two-stage least squares (2SLS) and the system generalized method of moments (GMM). The data were collected from different websites such as the World Development Indicators (WDI), the United Nations International Children's Emergency Fund (UNICEF) and the United Nations Educational, Scientific and Cultural Organization (UNESCO). It is found in the study that financial inclusion has a significant positive effect on healthcare access, and it is also confirmed from previous literature results. The study found that if there are high financial services in the countries, healthcare sectors can be improved by timely facilities, care and funds. Proper development of financial services could be possible by conducting awareness initiatives, financial planning and implementing literacy programs to educate individuals, particularly in rural and underdeveloped areas. According to the results, trade openness and foreign direct investment have a positive impact on healthcare access, while urbanization has negatively influenced healthcare access. The limitations of this study were restricted to only 29 developing countries. The main reason behind the lack of availability of data insurance data for developing countries was the limitation in generalizing the results. The government and policymakers must check what are the best financial inclusion programs and policies that can be implemented to improve healthcare access. Previous literature does not show visibly the impact of financial inclusion’s dimensions on healthcare access. This study presents a pioneering examination of financial inclusion and healthcare in 29 lower- and middle-income countries (developing countries). This study has used a comprehensive financial inclusion index of 29 developing countries to cover the overall impact of financial inclusion on healthcare in these countries.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-08-09
DOI: 10.1108/JEAS-02-2024-0057
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Toward a more pre-emptive approach to managing work emotions and emotional
labor-
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Authors: Sean T.H. Lee
Abstract: To propound a broadened perspective on emotional labor management by exploring mitigatory approaches that could be pre-emptively deployed prior to actual episodic experiences of emotional dissonance and their associated negative consequences (e.g. burnout). At present, the management of emotional labor appears to skew toward reactive measures, such as deploying employee assistance programs (EAPs) to assist overwhelmed employees in coping better with their emotional demands, reducing job-related emotional demands or a combination of both. Intricate processes of emotion emergence and established literature on emotion regulation are considered. By conceptualizing emotion emergence as a process entailing situation, attention, appraisal and response, current efforts can be seen as primarily acting upon the late stages of this process. General emotion regulation strategies that act upon more upstream processes are then considered and applied to the specific context of emotional labor. Pre-emptive steps could be taken from the early stages of job selection as well as personnel selection and assessment through systematic and concerted efforts in identifying job-related emotional demands (e.g. specific display rules, frequency and intensity). Formal job descriptions could then reflect these demands to better facilitate self-selection processes. Additionally, considering these identified parameters as personnel selection and assessment criteria could further enhance person-job fit in terms of emotional congruency. For current hires, pre-emptive steps could also be taken to subliminally modulate their emotional emergence trajectory toward more job-congruent emotions. Collectively, these steps may facilitate the pre-emptive reduction of emotionally dissonant work episodes and bear substantive potential to be deployed synergistically with current, more reactive measures. This paper offers a broadened perspective on emotional labor management. Through considering intricate processes of emotion emergence and established literature on emotion regulation, a pre-emptive perspective toward managing work emotions and emotional labor is propounded. It is believed that the synergistic incorporation of these pre-emptive management approaches with current strategies (e.g. reducing emotional demands, EAPs, etc.) would holistically allow for greater amelioration of this debilitating issue. Finally, it is hoped that this paper could serve as a primer for future research and discourses to be conducted, such that our arsenal available for combating emotional labor could be substantively expanded to holistically target all stages of the emotion emergence process.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-08-01
DOI: 10.1108/JEAS-03-2024-0081
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Unlocking the nexus: exploring the mediating and moderating dynamics of
risk factors in economic literacy for organizational performance -
A systematic review-
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Authors: Nurudeen Babatunde Bamiro, Zainizam Zakariya, Lukman Raimi, Yoburaj Thomas
Abstract: Recognizing economic literacy as a vital form of intellectual capital provides essential tools to mitigate the adverse impact of risk factors on business organizations' performance. This recognition serves as a strong rationale for prioritizing economic literacy as a strategic asset in navigating the complexities of risk factors for sustained organizational performance. To bridge this gap, this study examines the role of risk factors in the economic literacy of an organization and how they affect organizational performance. This exploratory study employed a qualitative research method, utilizing a systematic review with the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) approach to identify gaps. A comprehensive search across databases was conducted using keywords related to risks, economic literacy and organizational performance. In total, 32 articles were meticulously analyzed, focusing on methodology, results and discussion sections to address research questions. This study highlights the impact of risk factors on economic literacy and organizational performance, focusing on risk-taking, attitude, enterprise risk management (ERM), financial literacy and organizational performance. It reveals that possessing economic literacy can mitigate financial risks in corporations by helping entrepreneurs identify business opportunities and pitfalls, enabling informed and prudent financial decision-making. Conflicting findings challenge existing knowledge on the link between risk factors and financial literacy, particularly in new product development decisions, highlighting the need for further investigation into environmental factors shaping this connection. The study developed a conceptual model that explains the interaction among economic literacy, risk factor and organization performance, which has implications for the development of the required intellectual capital to mitigate the impact of risk factors. Also, the study identified diverse conceptual, methodological and geographical gaps that will provide direction for future studies. Future research could delve into firm-level or cross-country data via surveys, interviews or focus groups, enriching the research's robustness and depth for nuanced insights into the investigated relationships.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-08-01
DOI: 10.1108/JEAS-12-2023-0343
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Understanding bank lending and its relationship with profitability and
non-performing loans: a meta-analysis-
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Authors: Shweta Gupta, Rohit Bansal
Abstract: This study is a meta-analysis of the relationship between bank lending, profitability and non-performing loans (NPLs), and the purpose is to identify a research gap in studying this very crucial triad. Firstly, relevant keywords are used to pull the studies from the Scopus and Web of Science (WoS) databases. The initial result is then narrowed down using relevant search criteria by manually filtering the studies based on the title and abstracts, out of which meta-analysis has been done of the findings of the top 200 papers (citation-based). The literature in this field of study indicates heterogeneous results for relationships between bank lending and NPLs, bank lending and profitability and also NPLs and profitability. The meta-analysis of the results also reveals that the behaviour of these variables shows heterogeneity, which, based on the literature review, can be attributed to the different economic conditions during the study period and thus indicates nonlinearity in the behaviour of these variables. This review explores the interrelationship of three variables, as they are very important to strike a proper balance between growth and safety in the banking industry, but the same has been inadequately researched in past studies.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-07-31
DOI: 10.1108/JEAS-03-2023-0060
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Revisiting the economic growth in the shadow of financial stress
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Authors: Biswajit Paul, Raktim Ghosh, Ashish Kumar Sana, Bhaskar Bagchi, Priyajit Kumar Ghosh, Swarup Saha
Abstract: This study empirically investigates the interdependency of select Asian emerging economies along with the financial stress index during the times of the global financial crisis, the Euro crisis and the COVID-19 period. Moreover, it inspects the long-memory effects of the different crises during the study period. To address the objectives of the study, the authors apply different statistical tools, namely the adjusted correlation coefficient, fractionally integrated generalised autoregressive conditional heteroskedasticity (FIGARCH) model and wavelet coherence model, along with descriptive statistics. Financial stress is having a prodigious effect on the economic growth of select economies. From the data analysis, it is found that the long-memory effect is noted in the gross domestic product (GDP) for India and Korea only, which implies that the volatility in the GDP series for these two nations demonstrates persistence and dependency on previous values over a lengthy period. The study is unique of its kind to consider multi-segments within the period of the study to get a clear idea about the effects of the financial stress index on select Asian emerging economies by applying different econometric tools.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-07-24
DOI: 10.1108/JEAS-07-2023-0173
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Threshold inflation and relative price variability – a proposal for
inflation targeting in Lebanon-
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Authors: Sartaj Rasool Rather, Salah Abosedra
Abstract: The study investigates the impact of inflation on the variability of relative prices in the context of Lebanon. Unlike the traditional method, which relies on the variance of cross-sectional price changes measured at specific points in time to gauge the variability in relative prices, we employ a more appropriate approach. Under this approach, we capture the dispersion in relative prices by estimating how widely (or closely) a set of commodity prices drift apart over a span of time, offering a more comprehensive assessment. Firstly, we employ Johansen’s cointegration test on rolling subsamples to determine the number of statistically significant cointegrating vectors among the prices of 12 major commodity groups. Under this approach, an increase in the number of significant cointegrating vectors indicates a reduction in relative price variability, while a decrease suggests the opposite. Subsequently, we employ ordinary least squares regression to analyze how the fluctuations in inflation affect the variability in relative prices. The sample period ranges from December 2007 to April 2021. The empirical results indicate that there exists a certain threshold inflation rate corresponding to which the variability in relative prices is minimized. More importantly, consistent with the theoretical predictions, the results suggest that it is not inflation per se, but the deviation of inflation from the 3% threshold level in either direction that causes higher dispersion in relative prices. The empirical findings from this study have crucial implications for the operation of monetary and fiscal policy. In particular, these findings suggest that stabilizing long-term inflation around a certain threshold rate will not only help to anchor inflation expectations effectively but will also minimize the welfare costs associated with inflation. Given the rising inflationary pressure in the recent past and its welfare costs, the study assumes crucial importance in understating how fluctuations in inflation distort the relative price structure and eventually cause resource misallocations and economic inefficiency.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-07-23
DOI: 10.1108/JEAS-09-2023-0247
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Oil price uncertainty and corporate cash policy: does Islamic financial
development matter'-
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Authors: Abdullah Bugshan
Abstract: This study investigates the impact of oil price uncertainty on corporate cash holdings. Moreover, it examines whether the effect of oil price volatility differs between Shariah-compliant corporations (SCCs) and non-Shariah-compliant corporations (NSCs). It also explores the role of Islamic financial development in the home countries of these corporations in this relationship The study utilizes a sample of non-financial firms listed in eight emerging economies, for the period between 2013 and 2019. A static, ordinary least squares, and dynamic, Generalized Method of Moments models have been employed to test the hypotheses of the study. The findings reveal that, on average, high oil price uncertainty influences both SCCs and NSCs. However, SCCs are more severely affected than NSCs. Notably, during periods of high oil price uncertainty, SCCs reserve more cash than their NSC counterparts. Additionally, the Islamic financial development of the country moderates the severity of the impact of oil price uncertainty on SCCs. Further analysis suggests that the impact of oil price uncertainty is more pronounced for firms operating in oil-exporting countries. Corporate managers should build a liquidity strategy that allows them to deal with oil price uncertainty. Also, the findings of the study highlight the importance for Islamic financial development of Islamic countries. The improved Islamic financial development of the country improves access to capital markets for shariah compliant firms and hence, reduces their need for holding excessive large amount of cash asset. The study contributes to the growing literature on the effects of oil price uncertainty on corporate cash holding policy by highlighting the roles of Shariah compliance status and Islamic financial development in this relationship. It is the first to explore the joint relationship between oil price uncertainty, Shariah compliance, and corporate cash holding policy.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-07-22
DOI: 10.1108/JEAS-01-2024-0006
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- The nexus between economic growth and conditional exchange rate
volatility: evidence from emerging economies-
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Authors: Mudaser Ahad Bhat, Aamir Jamal, Farhana Wani
Abstract: The purpose of this paper was to examine the nexus between conditional exchange rate volatility and economic growth in BRICS countries. Further, the dynamic causation between economic growth and exchange rate volatility is also examined. We employed three techniques, namely, dynamic panel models, static panel models and Dumitrescu and Hurlin (DH) panel causality test to examine the economic growth–conditional exchange rate volatility nexus in BRICS countries. The overall results showed that conditional exchange rate volatility has a negative and significant effect on economic growth. Interestingly, the results showed that whenever the exchange rate volatility exceeds the 0–1.54 range, the economic growth of BRICS is reduced, on average, by 5%. Further, the results of the causality test reconciled with that of ARDL wherein unidirectional causality from exchange rate volatility, exports, labour force and gross capital formation to economic growth was found. The urgent recommendation is to develop and align fiscal, monetary, trade and exchange rate policies, either through creating a common currency region or through coordinated measures to offset volatility and trade risks in the long run. Further, to offset the impact of excessive exchange rate changes, BRICS economies can set up currency hedging systems, implement temporary capital controls during periods of extreme volatility or create currency swap agreements with other nations or regions. Last, but not least, investment and labour policies that are coherent and well-coordinated can support market stabilisation, promote investment and increase worker productivity and job prospects. Researchers hold contrasting views regarding the effect of exchange rate volatility on economic growth. Some researchers claim that exchange rate volatility reduces growth, and several shreds of empirical evidence claim that lower exchange rate volatility is linked with an increase in economic growth, at least in the short run. However, the challenge lies in establishing the optimal range beyond which exchange rate volatility becomes detrimental to economic growth. The present study contributes to this aspect by seeking to identify the optimal spectrum beyond which excessive shifts in exchange rate volatility negatively affect economic growth, or endeavors to define the acceptable spectrum within which these fluctuations actually boost growth. To the best of our knowledge, this study is the first to analyse the given research area. The present study used a dummy variable technique to capture the impact of permissible exchange rate band on the economic growth.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-07-17
DOI: 10.1108/JEAS-07-2023-0199
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Narrative disclosure and earnings quality: what is the nexus' Evidence
from emerging countries-
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Authors: Mohammed Hassan Makhlouf, Adel Qatawneh, Walid Safi
Abstract: Narrative disclosures offer further elucidation of a company's financial performance beyond what is presented in numerical format. This can assist stakeholders in gaining a deeper comprehension of the elements that impact reported earnings, thereby improving the quality of financial information. The current research explores the impact of narrative disclosure on the earnings quality of firms listed on the Amman Stock Exchange (ASE). Appropriating an index to measure the narrative disclosure level in the research sample firms, the research utilizes an analysis of the textual content of nonfinancial reports and statements issued by the management of the ASE-listed nonfinancial firms between 2013 and 2022. The financial statements issued in the annual financial reports are also adopted to extract data on earnings quality and the controlling variables. The analysis of the data and attainment of the findings necessitate using the panel data. It is indicated that narrative disclosure affects earnings quality. To be precise, the greater the narrative disclosure, the lower the absolute value of the voluntary discretionary accruals and thus the higher the quality of accounting earnings. The findings contribute to new research on disclosure issues, particularly narrative disclosure, which enhances reader confidence in financial and nonfinancial reports and prevents misleading and manipulated information. This research helps decision-makers understand the relationship between reports, statements and earnings quality in a firm. It's unique in exploring this relationship, especially in developing countries. The study is the first of its kind in Jordan, known for its economic stability and strategic location in the Middle East, making its findings applicable to similar environments.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-07-17
DOI: 10.1108/JEAS-11-2023-0323
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Fintech-based financial inclusion and banks' risk-taking: the role
of regulation in Sub-Saharan Africa
Open Access Article-
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Authors: Tough Chinoda, Forget Mingiri Kapingura
Abstract: The study examines the role of regulation in the fintech-based financial inclusion (FBFI)–risk-taking nexus in the Sub-Saharan African (SSA) region. Using a sample of 10 countries in SSA over the period 2014 to 2021, the study employed the fixed-effect regression model and the two-step generalized method of moments (GMM) estimator. The results show that FBFI mitigates commercial banks risk-taking in SSA. But as FBFI progresses, the association takes the shape of an inverted U, increasing risks initially and decreasing them later on. Effective supervision and regulatory quality, in particular, are essential in moderating this relationship by offsetting the adverse consequences of FBFI in its early stages. First, while our sample is limited to banks in ten SSA countries, future studies could extend the sample size, enabling more explicit generalization of the results. Second, the FBFI–bank risk nexus can be explored further by comparing diverse forms of fintech participation, such as fintech company investment, fintech technology investment, cooperation with specific fintech service providers and cooperation with Internet giants. Policymakers, banks and fintech companies should collaborate to certify the sustainable utilization of fintech tools to ensure financial inclusion. Policymakers should craft policies that encourage effective supervision and regulatory quality of fintechs since they reduce banks' risk-taking practices, which usually have positive effect on the economy. The study adds value to the debate on the role of regulation on the FBFI–risk-taking nexus, taking into account countries that are at different levels of development.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-07-05
DOI: 10.1108/JEAS-11-2023-0304
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Creating a bridge between ESG and firm's financial performance in Asian
emerging markets: catalytic role of managerial ability and institutional
quality-
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Authors: Sohail Ahmad, Wahbeeah Mohti, Muhammad Khan, Muhammad Irfan, Omar Khalid Bhatti
Abstract: The study is aimed at examining the impact of ESG on the financial performance (FP) of firms and determining the difference between the impact of ESG on market-oriented financial performance measure (Tobin’s Q) and internal productivity-based financial measure (ROA). The study has also explored the influence of managerial ability and institutional quality as moderating variables on the relation between ESG and the financial performance of firms (both measures of FP: Tobin’s Q and ROA). The study is quantitative exploratory and uses panel data of 687 publicly listed companies from the year 2013–2023. Data has been acquired from the reputed data providers and OLS regression has been used for panel data analysis with fixed effects. The study reaffirms the positive impact of ESG on the financial performance of firms. Each pillar of ESG (environmental, social, and governance) has been found positively related to both measures of financial performance (Tobin’s Q and ROA). The study reveals that managerial ability and institutional quality, acting as supplementary variables, moderate the relationship between ESG and financial performance of firms. A limited sample comprising data from only 687 firms was used for the analysis. The latest data was not available, therefore, data from 2013 to 2023 was used in the study. This study indicates that ESG practices, which are mostly discretionary in Emerging Economies, can be induced through institutional pressures and ensuring higher quality managers. Policymakers in government institutions have to determine the inefficiencies, corrupt practices, and inconsistencies in policies that lower the effectiveness of institutions making them business-unfriendly. At the organizational level, policymakers need to ensure that responsible positions in the organization are held by managers with higher managerial ability. It is also to be ensured by shareholders that managers do not over-invest in ESG-related projects, particularly in organizations with weaker financial status. For managers, it is important to understand the positive benefits associated with ESG, even though they are in the long term. In Emerging Economies, the official monitoring and regulatory mechanisms are weak, and lack a supportive attitude toward ESG initiatives. Voluntary and proactive firm-level environmental and social initiatives need to be encouraged and rewarded by institutions with public acknowledgment. ESG should be given priority by organizations for improving the quality of services and better social impact of businesses on society. Most of the past research explored the impact of ESG on financial performance in advanced countries or in emerging markets in a single/limited number of countries or industries. Also, past studies investigated the impact of institutional quality and managerial ability on ESG/financial performance in separate models. Conversely, this study has used a multi-country and multi-industry sample for more generalizable findings. Against the backdrop of the institutional environment of Emerging Economies, the study extends Institutional Theory and Upper Echelon Theory to include the role of managerial ability and institutional quality in the relationship between ESG and firms’ financial performance.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-06-27
DOI: 10.1108/JEAS-01-2024-0004
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Effect of digital financial inclusion on banking for the poor in African
emerging economies-
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Authors: Chinyere C. Onyejiaku, Chi Aloysius Ngong, Fuein Vera Kum, Akosso Wilfred Nebasi
Abstract: This paper studies the effect of digital financial inclusion in banking on the poor and deprived populations of African emerging economies from 1997 to 2023. Automated teller machines, mobile payments and mobile money transactions measure digital financial inclusion. Household consumption expenditure proxies poverty reduction. The autoregressive distributed lag analyzes the study. The results indicate that automated teller machines, mobile money transactions and financial deepening positively affect poverty reduction, while mobile payments negatively affect poverty reduction. Digital financial inclusion decreases poverty via increased investment and empowerment. Digital financial products and services should be expanded to all population segments in the economies. The governments should improve the quality and quantity of institutions that guarantee the operation of digital financial activities through the enforcement of law and order. The quality and quantity of mobile money transactions and financial deepening should be increased. The costs and charges involved in using automated teller machines and mobile payments should be regulated to relieve the burden on the population. The government should facilitate access to digital financial services via power supply, transport and telecommunication networks. Banks and telecommunications service providers should improve the payment system network to ensure cost-effective, convenient and secure financial service delivery. The digital infrastructure and financial services markets should be enhanced to fully capture the gains of financial inclusion and reduce poverty. A literature review provides studies with conflicting findings on the effect of digital financial inclusion on poverty reduction. This study supports that digital financial inclusion decreases poverty.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-06-19
DOI: 10.1108/JEAS-02-2024-0062
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Bibliometric analysis of income inequality in Africa
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Authors: Rasaq Raimi, Andrew Phiri
Abstract: The purpose of the study is to provide a bibliometric review of scientific articles published on “Income inequality in Africa” in order to understand the patterns of research on the topic and identify agendas for future research. We conduct a bibliometric analysis on 459 research publications between 1993 and 2023 using the biblioshiny function of bibliometrix package of R-studio to map out and analyze the bibliometric data. The findings from our analysis can be summarized in five points. Firstly, African researchers are underrepresented on a global scale and yet are dominant at institutional and author levels. Secondly, most dominant research has not being published in top 100 tanked economic journals. Thirdly, there is underrepresentation of females and white males in research output. Fourthly, there are weak author collaborations on the topic and currently the authors with higher collaborative partnerships tend to have more research output and higher citations. Lastly, we find that authors who include simple terms such as “Income inequality”, “Africa”, “poverty” and “economic growth” as keywords in their studies tend to have higher visibility. This is first study to perform a bibliometric analysis for research on “Income inequality in Africa”.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-06-14
DOI: 10.1108/JEAS-10-2023-0269
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- The role of financial parenting, childhood financial socialization and
childhood financial experiences in developing financial well-being among
adolescents in their later life-
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Authors: Mohammad A. Algarni, Murad Ali, Imran Ali
Abstract: Previous research suggests the crucial role of parents in developing social behaviors of their children. However, less evidence is available on the role of parents in shaping responsible financial management behavior among children for their later life. This study bridges this gap by investigating the role of financial parenting in improving well-being among young Saudi people. Particularly, this study examines the role of financial parenting, childhood financial socialization and childhood financial experiences in developing responsible financial self-efficacy and financial coping behaviors to determine financial well-being among young adults in Saudi Arabia. This study uses a two-step mixed-method approach comprising analyses of symmetric (net effects) and asymmetric (combinatory effects) modelling to test the proposed model. A symmetrical analysis examines the role of financial parenting factors that are sufficient for improving financial well-being among Saudis. An asymmetrical analysis is used to explore that a set of combinations of financial parenting conditions lead to high performance of financial well-being. Data have been collected from 350 students enrolled in undergraduate and postgraduate programs in Saudi Arabia. According to asymmetric modeling (i.e. fsQCA) analysis, parents and practitioners can combine financial parenting, childhood financial socialization and childhood financial experiences along with financial self-efficacy and financial coping behaviors in a way that satisfied the conditions (i.e. causal antecedent conditions) leading to high financial well-being. Importantly, the condition of high financial well-being is not mirror opposite of causal antecedent conditions of low financial well-being. This study contributes to the current knowledge by applying both symmetrical and asymmetrical modelling to indicate a high level of financial well-being. Besides, there is sparse empirical evidence available in the context of Saudi Arabia on how financial parenting, socialization and financial experiences in childhood improve children's financial well-being in their later life. According to asymmetric modeling (i.e. fsQCA) analysis, parents and practitioners can combine financial parenting, childhood financial socialization and childhood financial experiences along with financial self-efficacy and financial coping behaviors in a way that satisfied the conditions (i.e. causal antecedent conditions) leading to high financial well-being. Importantly, the condition of high financial well-being is not mirror opposite of causal antecedent conditions of low financial well-being. The parents and practitioners must be cautious to regulate the condition in which the combination of the antecedents is not in line with the causal recipes of financial well-being negation. This study deepens the current knowledge by employing both symmetrical and asymmetrical analysis for testing structural and configurational models indicating the high performance of financial well-being . The study proposes and tests an integrated model to bring new contributions to prior literature. This study also attempts to propose valuable research directions for future researchers interested in the topic.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-06-04
DOI: 10.1108/JEAS-07-2023-0194
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Impact of female CFO board membership on firm investment efficiency: does
institutional gender parity matter' Evidence from emerging economies-
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Authors: Ashiq Ali, Munir Khan
Abstract: This study analyzes how possessing female chief financial officers (CFOs) on boards in emerging economies impacts on firm investment efficiency and addresses overinvestment and underinvestment tendencies of firms based on this aspect. The study draws from resource-based and stakeholder theories. Additionally, it explores how institutional gender parity influences this relationship. The study uses a two-step system generalized method of moment (GMM) estimation technique to test its hypotheses. Data span from 2010 to 2021 and cover firms in emerging economies. The approach addresses endogeneity and accounts for unobserved heterogeneity in the data. The study’s results support the hypothesis that firms with female CFO decrease overinvestment and underinvestment tendencies, indicating improved investment efficiency. This effect is more pronounced in emerging economies with higher gender parity and support for female leadership. The study’s findings suggest fostering gender parity and female leadership in emerging economies to maximize the benefits of female CFO board membership. Policymakers should advocate for corporate governance practices and gender parity through supportive policies to advance economic outcomes and competitiveness. This study advances existing literature by highlighting the positive outcomes of having female CFOs on boards in emerging economies. It emphasizes gender diversity’s importance in leadership and advocates for inclusive institutional frameworks.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-06-03
DOI: 10.1108/JEAS-08-2023-0221
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- When and how does e-HRM optimize communication pace and processing
time'-
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Authors: Muhammad Shakeel Aslam, Ayesha Akram
Abstract: This study aims investigate the effects of electronic human resource management (e-HRM) on communication pace and processing time reduction through the mediation of organizational agility. The study also investigates the moderating role of technological attitude (TA) on the relationship between e-HRM and organizational agility. The data was collected from 331 information and communication technology (ICT) companies – one respondent from each company working in the Human Resource Management (HRM) department. The data was analyzed through the partial least square structural equational model (PLS-SEM) using WarpPLS7.0 software to test the study’s hypotheses. We found that e-HRM has positive significant effects on communication pace and processing time reduction through the mediation of organizational agility. Furthermore, TA is found to be positively moderating the relationship between e-HRM and organizational agility. The study adds significant value to the existing knowledge base on e-HRM by providing empirical insights about the role of e-HRM in optimizing the communication pace and processing time of today’s businesses. The study also provides invaluable insights to practitioners to replace conventional HR systems with e-HRM to better perform HR functions by optimizing communication pace and processing time in the current fast-paced era. E-HRM has become an issue of great significance in the contemporary corporate landscape to improve operational efficiency. Despite its widespread adoption in the corporate world, empirical evidence on e-HRM, particularly on its consequences, is still inconclusive.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-05-28
DOI: 10.1108/JEAS-01-2024-0037
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Returns from herding as a function of the social network of agents:
a simulation study-
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Authors: Ishan Kashyap Hazarika, Ashutosh Yadav
Abstract: This study combines different perspectives on herding, viewing it as a social network heuristic in comparison to other heuristics. The purpose is to use the heuristic view of herding as found in early literature and test it on grounds of efficiency and payoff, in essence, combining the heuristic and rational agent view of herding. The simulated double auction setting includes agents embedded in a social network, allowing for an examination of herding alongside rational behaviour and imperfect signals. In each round of the simulation, levels of homophily, density and fractions of types of agents is set and agents are allowed to follow their respective heuristics under those conditions. Characteristics of the social network, such as the size, levels of different homophilies, density and fractions of different types of agents are varied randomly to gauge their effect on the performance of herders vis-à-vis others and the overall market efficiency through simulation based approach. The data used for the study has been developed in Python and linear models are estimated using R. Herding decreases total surplus in private value double auctions, but herders are not worse off than other agents and perform equally in common value auctions. Further, herders and random offerers reduce payoffs of other agents as well, and herding effects the surplus per transaction and not the quantum. This study explores herding as a strategic behaviour coexisting with rationality and other strategies in specific circumstances. It presents intriguing findings on the impact of herding on individual outcomes and market efficiency, raising new avenues for future research. Implication to research includes a dent on the “sieve” argument of markets rooting out irrationality and from it, a policy implication that follows is the need for corrective measures as markets cannot self-correct this, given herders do not perform worse than others. The study links the phenomenon of herding to the dynamics of social networks and heuristic-based learning mechanisms that sets apart this research from the majority of existing literature, which predominantly conceptualizes herding as an outcome derived from a perfect Bayesian Equilibrium and a rational learning process.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-05-28
DOI: 10.1108/JEAS-05-2023-0130
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Evaluating strategies to persist for digital platform firms in a
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Authors: Shatakshi Bourai, Rahul Arora, Neetu Yadav
Abstract: The dynamic and evolving nature of the market calls for attention to digital platform firms' survival strategies, building agility for persistence in a continuously changing business environment. In India, the government’s adoption of the Digital Policy is one such change in the business environment for the firms that impact almost all sectors. Such policies cause a disruption wherein digital platform firms must be agile and create a strategic response that will endure any changes. The present study attempts to gain insight into the competitive strategies adopted by the digital platform firms of the consumer durables industry in India, which are implemented to facilitate their growth. The entire study is conducted in two phases. Phase one includes identifying strategies sampled digital platform firms adopted in response to the digitalization policy, and the second phase evaluates the significance of the adopted plans to persist. While clubbing the 42 strategic responses to a few aggregate dimensions, the study found four types of responses adopted by the digital platform firms in the consumer durable industry to persist in the market. Using a two-step system, the Generalized Method of Moments (GMM) approach, the study found that all four dimensions are statistically significant, positively impacting these firms' profitability. The study contributes to the knowledge base of strategic responses to persist for the incumbent platform firms in a dynamic business environment. The study answers the pertinent research question of how such strategic decisions may be informed in favor of profitability.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-05-14
DOI: 10.1108/JEAS-10-2023-0287
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- The role of green bonds in reducing CO emissions: a case
of developing countries-
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Authors: Ameena Arshad, Shagufta Parveen, Faisal Nawaz Mir
Abstract: The global economy is growing very fast, and it is also facing environmental challenges. Due to increased economic activities, global warming is rising as a result of greenhouse gas emissions. Concepts like green finance and green investments are emerging to battle climate issues. The present study empirically examines the impact of green bonds on carbon dioxide (CO2) emissions in developing countries, as these countries are producing 63% of CO2 emissions around the globe. To check this impact, pooled ordinary least squares (OLS), fixed effect and generalized method of moments (GMM) techniques are applied using the annual data of 65 developing countries from 2008 through 2021. The results indicate that the overall effect of green bonds on CO2 emissions is negative, as more issuance of green bonds reduces CO2 emissions, confirming results from the existing empirical literature. The study found that more foreign direct investment (FDI) and urbanization lead to more CO2 emissions, while increase in trade openness helps reduce CO2 emissions. It was found that promoting green bonds will help to promote environmentally friendly projects that will help to reduce CO2 emissions. Rapid urbanization has led to more energy demand for various industries like manufacturing, transportation and residential sectors, which leads to more CO2 emissions. The policymakers in these countries should make policies that help in reducing carbon emission by increasing green bonds and FDI in supporting projects that are environmentally friendly. Therefore, to mitigate such current and future issues, policymakers in developing countries need to give serious attention to this area to fulfill sustainable development goals. This study presents a pioneering examination of green bonds and CO2 emissions in 65 lower- and middle-income countries (developing countries). We have tried to cover all developing countries that are causing more greenhouse gas emissions and need to shift to green finance strategies. It will be a contribution to the body of knowledge regarding the role of green bonds in reducing CO2 emissions. The present study will help in assessing the importance of green bonds in bringing low-carbon economies.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-05-13
DOI: 10.1108/JEAS-09-2023-0242
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Information technology investment and rural bank performance in Ghana:
the moderating role of ICT diffusion and financial development-
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Authors: Louis David Junior Annor, Elvis Kwame Agyapong, Margarita Robaina, Elisabete Vieira, Ebenezer Bugri Anarfo
Abstract: This study sought to examine the interaction between rural bank performance, information and communication technology (ICT) investment, ICT diffusion and financial development. Data were sourced from the Association of Rural Banks (ARB) Apex and World Development Indicators (WDI) for the period 2014–2020. A total of 122 rural banks were used for this study. The study adopted the two-step system generalized method of moments (SGMM) estimation technique in assessing the interactions among variables. This study found compelling evidence to support the positive effect of ICT investment on banks’ performance (return on asset and net interest margin). Further, ICT diffusion and financial development positively influence banks’ performance. The results show a positive moderating effect exerted by ICT diffusion and financial development on the impact of bank risk (bank stability) and ICT investment on all three performance measures. The study focuses on the rural banking sector in the Ghanaian economy, compared to related studies that examine the subject matter for commercial banks. The moderating effects of ICT diffusion and financial development are assessed to guide policy on rural banking development in Ghana.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-05-09
DOI: 10.1108/JEAS-07-2023-0171
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Linking social media addiction and student retention through the lenses
of student engagement-
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Authors: Irfan Ahmad, Umar Safdar, Akram Somroo, Ali Raza Qureshi, Abdul Khaliq Alvi
Abstract: This research is designed to explore the relationship between social media addiction, student engagement and student retention. Social media addiction is dealt with as an independent variable student engagement acts as a mediating variable and student retention as a dependent variable. This is a cross-sectional and quantitative research. Primary data are collected from 600 respondents (university students) with the help of a structured questionnaire. Multistage sampling techniques, i.e. simple random sampling and judgment sampling, are used for the selection of respondents. Results indicate that for direct relationships, social media addiction has a significant positive impact on student engagement and student retention, respectively, while student engagement is partially mediating the relationship between social media addiction with student retention. In the future, these kinds of research may also be conducted on students of different universities in Pakistan, which are located in other cities of Pakistan besides Lahore. This research provides a practical framework for the higher authorities of the universities of Pakistan and explains how the use of media positively fosters the levels of student retention directly and indirectly through the path of student engagement. It is commonly believed that media addiction is bad but the result of this research indicates that anything is not dangerous but depends upon its use, media addiction itself is not bad but if someone uses this for a good purpose in limitation then it has better outcomes. The result indicates that the media addiction of students has a positive impact on student retention. This means that if someone uses media for a positive purpose then he/she will use it as a supporting tool for success. Longitudinal research on these variables will also help to check the status after a specific interval of time. The current study will help the practitioners or policymakers (Managers) of higher education institutions by providing practical insights into the positive use of media by students for increasing their knowledge and grades. This research can also help practitioners or policymakers to focus their students on the positive use of social media for fostering the levels of student retention. To the best of the researcher’s knowledge, no previous study has been done to incorporate social media addiction and student engagement in a single model in the Pakistani cultural context. Similarly, the relationship of variables social media addiction with student engagement is rarely checked empirically because the research of Wang et al. (2011) proposed that social media addiction has a relationship with student engagement so that is why this is the rationale of the research is to check this empirically. Moreover, this study is an initial effort to check the mediating effect of student engagement in the relationship between social media addiction and student retention. This research is also proposing the framework of social media addiction, student engagement and student retention based on the social exchange theory (SET).
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-05-07
DOI: 10.1108/JEAS-01-2022-0016
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Growth in rural Punjab: inclusiveness or pseudo-inclusiveness'
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Authors: Ishu Chadda
Abstract: The main purpose of this paper is to examine the status of poverty and its reduction by following the inclusive development approach. This study is designed to examine the benefits obtained from development programs, assess the government’s commitment to alleviating social inequality, and its impacts on the redistribution of wealth and poverty reduction. To evaluate the implementation of the various development schemes and enhance grass-roots participation, a survey was carried out on 540 households, selected through multistage stratified sampling techniques in three different states of Punjab. The study employed an exploratory factor analysis on 21 independent variables to identify the key factors influencing poverty reduction subsequently followed by the binary logistic regression to access the sectoral impact of inclusiveness on poverty reduction in Punjab. Exploratory Factor analysis extracted six key factors from the selected 21 variables, also called statements: “'Housing Development Resources”; “Human Capital Variables”; “Livelihood Essentials”, “Medical and Family Welfare Benefits”; “Receiving Educational Benefits”; and Social Security Benefits’. Binary logistic regression revealed that Housing Development Resources, Human Capital Variables, and Receiving Educational Facilities, significantly predict the likelihood of poverty reduction with inclusive growth in Punjab. To provide basic amenities to rural people, increased people’s participation, decentralized planning, extended irrigation facilities, improved equipped facilities, and improved cultivation techniques are pivotal. The Indian Government has implemented several programs and projects to develop and support rural households. However, these schemes have faced many challenges such as rigidity, non-adaptability to local conditions, late disbursements of funds, reallocation of funds to unrelated expenditures by some states, embezzlement, and bribery demands. Hence, the findings indicate the presence of pseudo-inclusivity in Punjab’s growth. The study’s uniqueness lies in its focus on selected districts of Punjab and also its application of exploratory factor analysis and binary logistic regression to construct a statistical model from the selected variables.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-05-07
DOI: 10.1108/JEAS-08-2023-0213
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Institutional framework, macroeconomic instability and financial markets:
perspective from emerging economies-
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Authors: Rexford Abaidoo, Elvis Kwame Agyapong
Abstract: The study evaluates the role of institutional framework and macroeconomic instability on financial market development among emerging economies. The study uses panel data compiled from 32 countries from the sub-region of Sub-Sahara Africa (SSA), covering the period starting from 1996 to 2019. Empirical analyses were carried out using the two-step system generalized method of moments (TS-GMM) statistical framework. Reviewed results suggest that institutional quality, effective governance and corruption control have a significant positive impact on financial market development among economies in the sub-region. Further empirical estimates show that macroeconomic risk and macroeconomic uncertainty have significant adverse effects on financial market development. Additionally, reported empirical estimates suggest that an improved institutional framework has the potential to lessen the adverse effect of macroeconomic instability on financial market development among economies in the sub-region. The uniqueness of this empirical inquiry compared to related studies in the present literature stems from the fact that studies employing similar empirical approaches on the subject matter for economies in the sub-region are rare. Additionally, the analysis pursued in this study employs critical variables whose impact on financial market performance in the sub-region has not been examined per our review. These variables include indexes such as macroeconomic risk and institutional quality, which are unique to this study based on their construction; these indexes are generated using a principal component analysis procedure with different underlying variables compared to what may be found in the literature.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-05-07
DOI: 10.1108/JEAS-08-2023-0214
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Is tax-related information value relevant' Empirical study
in the Canadian setting-
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Authors: Tao Zeng
Abstract: This study aims at examining the value relevance of tax-related information in Canada. Tax-related information in this study includes taxable income, tax aggressiveness, and tax risk (i.e., unsustainable tax planning). This study analyzes the Canadian listed firms covering the period of 2012–2021 using the Feltham–Ohlson valuation model. The findings are: (1) taxable income provides incremental value relevance information; (2) tax risk reduces the value relevance of both taxable income and accounting income and (3) tax aggressiveness reduces the value relevance of accounting income but not of taxable income. Further tests show that the COVID-19 pandemic increases the value relevance of taxable income but decreases the value relevance of accounting income. An analysis of the association between stock price volatility and tax-related information documents that taxable income and accounting income are both informative. Tax risk reduces the informativeness of taxable income, but tax aggressiveness and the pandemic do not. The sample in this study covers the period up to 2021. Future research could use more recent data. Additionally, this study examines the Canadian setting. The results may not be generalized to other countries that have different accounting and tax rules. This study sheds light on whether tax aggressiveness and tax risk affect the value relevance of taxable income and accounting income separately. In addition, to our knowledge, this is the first study that examines whether tax-related information is informative about stock price volatility.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-05-03
DOI: 10.1108/JEAS-01-2024-0028
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- The nexus of employees’ in-role and extra-role behaviour and customer
service: the moderating role of gender-
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Authors: Esther Julia Korkor Attiogbe, Hannah Acquah, Rejoice Esi Asante, Emelia Sarpong
Abstract: This paper investigates the influence of employees’ extra-role and in-role behaviours on customer service alongside the moderating role of gender. This paper employs the theory of behavioural intentions, cross-sectional survey design and quantitative approach to collect the data from 426 purposively sampled workers and customers of oil marketing companies. The data were analysed using descriptive statistics, correlation and the hierarchical regression model in SPSS. The results indicate that employees’ extra-role behaviour has a significant positive effect on customer service while employees’ in-role behaviour has no significant effect on customer service. It is also established that gender of staff can significantly moderate the relationship between extra-role behaviour and customer service such that the behaviour of female staff has greater effect on customer service than their male counterparts. However, the gender of staff has no moderating effect on the relationship between in-role behaviour and customer service. The findings imply that female staff should be allowed to directly engage customers more often than male staff to promote superior customer service. Managers should continuously improve upon the behaviour of employees through orientations, workshops and mentoring. Behaviour stimuli such as awards, appreciations and recognition for best workers would have to be encouraged to induce employees to act beyond their prescribed-roles. This study is the first to investigate how staff behaviours (in-role and extra-role) impact customer service, with gender of the employees as a moderator. This paper contributes to literature by empirically confirming the differential influence of employees’ extra role and in-role behaviours on customer service and the effectiveness of gender as a moderator on the relationship between extra-role behaviour and customer service from a developing country perspective and an industry where there is dearth of research.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-05-03
DOI: 10.1108/JEAS-03-2023-0054
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- The effect of tax avoidance on earnings persistence: evidence from China
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Authors: Yan Xu
Abstract: The purpose of this paper is to investigate the relationship between tax avoidance and earnings persistence in the light of a developing economy, with the main focus on China. In the analysis, the author conducts a survey on the tax avoidance situation of Chinese listed companies from 2012 to 2020. Then, a multivariate regression analysis is performed in order to analyse the relationship between corporate tax avoidance and earnings persistence. The findings of the present study show that tax avoidance has a significant positive effect on earnings persistence. However, when the degree of tax avoidance is high, the “risk effect” of tax avoidance exceeds the “value effect”, and tax avoidance will reduce the persistence of earnings. This conclusion is even more prominent when the company is non-state-owned. Further research shows the increase of institutional investors’ shareholding ratio can improve “value effect” of tax avoidance, lessen “risk effect” of tax avoidance, and positively affect the relationship between tax avoidance and earnings persistence. This study provides evidence for investors to understand the dual effect of tax avoidance on earnings persistence. The results may have implications for regulatory bodies. They can provide a better understanding of the corporate governance role of institutional investors in curbing opportunistic tax avoidance. This study enriches the research on tax avoidance effects by analysing the impact of tax avoidance on earnings persistence. This study also compensates for the shortcomings of analysing earnings persistence mainly from the perspective of tax differences in the past, and promotes the study of the corporate governance effects of institutional investors under different levels of tax avoidance.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-04-16
DOI: 10.1108/JEAS-04-2023-0086
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- New measures of Islamic social finance receptiveness index
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Authors: Hanudin Amin
Abstract: This study investigated the receptivity of the zakat wakalah system in social finance in Malaysia under the lens of innovation diffusion theory (IDT). This study conducted quantitative research using Google Forms. The sample size was 261 respondents who participated and were useable in this study. The Statistical Package of Social Science (SPSS) 27 was employed to analyse the data. The data were collected online from August 1 till August 31, 2022. The results reported significant effects of relative advantage, simplicity, compatibility and perceived benevolence on the zakat wakalah receptiveness index (ZAWi) for Medium Group Acceptance (MEGA) and High Group Acceptance (HIGA). As for Low Group Acceptance (LOGA), insignificant results were reported in relative advantage, compatibility and perceived benevolence but not simplicity. This study was limited to Labuan geographically, Malaysia and the variables employed. Yet, the results highlight the factors that influenced ZAWi and the two groups namely HIGA and MEGA found them all significant. This study enhanced the theoretical and practical effects of ZAWi. The results rendered a competitive benchmark for zakat institutions and zakat payers for improved zakat distribution policy. This study advanced psychology and management theory by improving knowledge of zakat wakalah for effective zakat distribution. In turn, it can be employed as the baseline theory for future studies to enhance existing hypotheses. This study introduced a new ZAWi formulated from IDT in the context of zakat distribution in Malaysia.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-04-09
DOI: 10.1108/JEAS-11-2023-0308
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- The dual nature of “peculiar problems” in microfinancing: perspectives
on market efficiency and public policy nexus-
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Authors: Kuldeep Singh
Abstract: The microfinancing sector is infamous for being prone to high credit risks due to loan defaults by its poor borrowers. Conversely, the sector is also criticized for creating debt traps for the poor. The dual nature of these peculiar problems in microfinancing causes the market failure phenomenon. Therefore, the current study explores whether public policy intervention is required to address market failure. The study undertakes a critical review of existing literature, the news, the policy documents and other publicly available information to shape the viewpoints in this study. Constructive criticism is used to build arguments to arrive at a conceptual framework that depicts how public policy should interact with markets to address the peculiar problems of the microfinancing sector. The findings indicate that market failure in microfinancing is real and pressing. Therefore, public policy is invited, though in its limited form. While the policy intervention may help the formal microfinancing arena by regulating the interest rates, the policy administration in the informal sector is likely to fail. Therefore, the policy should attempt to create an environment of inclusiveness. Policies that rely on coercion are not recommended. In the long run, subsidies via policy intervention are discouraged. Instead, the policy should motivate the microfinancing sector to become self-reliant. The study is one of its kind to provide perspectives on specific market failures and policy interventions in microfinancing, particularly in economies where formal and informal sectors coexist and are equally crucial.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-04-08
DOI: 10.1108/JEAS-08-2023-0234
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Impact of the COVID-19 pandemic on small and medium-sized enterprise (SME)
government suppliers involved in government green procurement (GGP)-
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Authors: Nurin Athilah Masron, Zaini Zainol, Suhaiza Ismail
Abstract: The objectives of this paper are twofold. First, it aims to investigate the impact of the COVID-19 pandemic on the activities and performance of small and medium-sized enterprises (SMEs) government suppliers involved in government green procurement (GGP). Second, it examines the differences in the impact of COVID-19 between small and medium-sized groups. The study used a questionnaire survey that was distributed to SMEs listed in the MyHIJAU directory that supply green goods and services to the government. Of the total 394 sample respondents, 126 usable questionnaires were received, representing a usable response rate of 31.98%. Descriptive analysis of mean score, standard deviation and mean score ranking was used to analyse the overall results. A t-test analysis was carried out to examine the differences between the small and medium-sized groups of companies. The study discovers that the SME government suppliers involved in GGP were impacted by the COVID-19 pandemic. The top ranked impacts are that “the COVID-19 pandemic has heightened health and safety practices among the employees”, “the COVID-19 pandemic has reduced company’s turnover”, “the COVID-19 pandemic has forced the company to implement a cost reduction strategy”, “the COVID-19 pandemic has had a negative impact on the company’s ability to deliver work, supplies or services to the government” and “the COVID-19 pandemic has forced the company to incur higher production costs for green products or services provided”. However, there is no significant difference between the impact of the COVID-19 pandemic on the small and medium-sized group of enterprises. The present study is among the fewer studies on the impact of the COVID-19 pandemic, with particular focus on SME government suppliers involved in GGP.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-04-02
DOI: 10.1108/JEAS-06-2023-0157
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Investigating the dynamics of FinTech adoption: an empirical study from
the perspective of mobile banking-
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Authors: Jitender Kumar, Vinki Rani
Abstract: Financial technology (FinTech) is experiencing transformation because artificial intelligence has become the new norm to enrich the experiences of individuals in this modern era of technological advancement. The article utilizes the stimuli-organism-response (SOR) framework to investigate how individual attitudes and behavioral intentions influence the adoption of FinTech, particularly in mobile banking. 433 respondents participated in the self-administered survey to answer questions related to demographic profiles and items to assess the variables adopted in the conceptual framework. The study applied “partial least squares structural equation modeling” PLS-SEM to analyze the data. A structural equation model indicates that perceived usefulness and ease of use significantly affect attitude and behavioral intention. Moreover, the outcomes show that perceived value and social influence significantly influence, while perceived risks and performance expectancy insignificantly affect behavioral intention. Further, the outcomes also confirm that attitude and behavioral intention substantially influence mobile banking adoption. The article provides insights for practitioners to improve and assess the quality of mobile banking services by using proposed antecedents that may increase the actual use of FinTech services, which serves as a valuable resource for stakeholders. The new research model adds to the existing literature by offering empirical evidence of mobile banking adoption by considering three theories. Further, the study builds upon the S-O-R framework that incorporates FinTech attributes to explain the antecedents of the actual use of FinTech towards mobile banking adoption.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-04-02
DOI: 10.1108/JEAS-12-2023-0334
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Nexus between digital financial inclusion and economic growth: a panel
data investigation of Asian economies-
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Authors: Pramath Ramesh Hegde, Leena S. Guruprasad
Abstract: This study aims to investigate the relationship between digital financial inclusion and economic growth in specific Asian countries, emphasizing the exploration of how digital financial inclusion dynamics impact gross domestic per capita income. The study creates a digital financial inclusion composite index (DFII) by incorporating essential metrics from the Global Findex report. Economic growth is measured using Gross Domestic Product per capita income in its natural logarithmic form (LnPCI), with three control variables– employment-to-population ratio; population growth and inflation. The analysis utilizes a fixed-effect dummy variable model to examine the relationship, considering unobserved country-specific heterogeneity. 30 Asian countries have been selected for the study for the periods 2014, 2017 and 2021 based on their availability, as outlined in Table 4. The research revealed a robust positive correlation between the Digital Financial Inclusion Index (DFII) and logarithmic GDP per capita income (LnPCI), indicating higher per capita income with enhanced digital financial inclusion. Employment and population exhibited minimal influence, whereas inflation had a notable negative effect on per capita income. Population growth showed a limited impact. The model demonstrated a high explanatory power for the dependent variable (high R-squared), and the residuals displayed low autocorrelation (Durbin–Watson of 1.96). This study adds to the existing literature by examining the intricate connection between digital financial inclusion (DFI) and economic growth in 30 Asian countries, employing a comprehensive composite index for analysis.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-03-26
DOI: 10.1108/JEAS-09-2023-0253
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Performance and returns volatility of banks in India:
public versus private sector-
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Authors: Kuldeep Singh
Abstract: This current study draws a comparison between the performance indicators of public sector banks (PSBs) and private sector banks (or non-PSBs) in India. The study controls for the impact of COVID-19. The study uses strongly balanced panel data for seven years of 12 PSBs and 10 non-PSBs from the Nifty PSU Bank Index and Nifty Private Bank Index. The study applies panel data methodology to arrive at the results. The study demonstrates that the behavior of indicators of performance and returns volatility for PSBs and non-PSBs differs substantially. While factors like capital adequacy ratio (CAR), cost management (COST), liquidity (LIQ), inflation and economic growth exhibit a similar impact on both categories of Indian banks, the effect of credit risk (RISK), market power (POWER) and COVID-19 on performance and returns stability is different for PSBs and non-PSBs. There is a limited sample size of banks in India. PSBs and non-PSBs need distinct treatments when calibrating performance indicators. The performance and stability of banks are essential for society at large, the depositors and the investors. The study provides vibrant implications for insight for banks to calibrate the variables that determine performance and stability, regulators and policymakers for effective governance of the banking ecosystem and effective utilization of public funds and capital. The findings are relevant for policymaking today, when the government is considering the privatization of a few PSBs.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-02-19
DOI: 10.1108/JEAS-07-2023-0181
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Strategic leadership and transactional leadership: the mediating effect
of digital leadership in the world of Industry 4.0-
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Authors: Arthur Joseph Avwokeni
Abstract: The dearth of leadership competencies to transform traditional industries to Industry 4.0 is a barrier to global production. This study explains the deficiencies in leadership competencies that hinder the transformation of traditional industries to Industry 4.0. Leadership was explained into transactional leadership, digital leadership and Leadership 4.0. Then, the network of relationships between these leadership constructs was plotted in a path diagram to learn the mediating effect of digital leadership. The results indicate that a lack of digital competencies to coordinate tasks, share information and solve problems in a digitalized environment is the barrier to the transformation. The findings can be used in human resources (HR) management. In addition, the findings provide evidence to present the contingency theory as a universal theory of leadership. The study is the first to assess the mediating effect of digital leadership on transactional leadership to explain the changes to strategic leadership due to the emergence of Leadership 4.0.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-02-13
DOI: 10.1108/JEAS-05-2023-0138
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Do natural resources invite terrorism: evidence from resource-rich region
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Authors: Muhammad Tahir, Muhammad Mumtaz Khan
Abstract: The MENA region is very rich in terms of natural resources. At the same time, the MENA region has also been a victim of terrorism during the last few years. This study is an attempt to investigate whether there is any relationship between natural resources and terrorism in the MENA region. We have focused on 15 resource-rich countries located in the MENA region for the period 2002–2019. We have applied appropriate econometric techniques and have also controlled for other dominant determinants of terrorism while studying the relationship between these two variables. The results provide solid evidence in favor of the hypothesis that natural resources encourage terrorism. We find that natural resources have positively impacted terrorism. Besides, the natural resources, other factors such as per capita GDP, trade openness, political stability, domestic investment and government expenditures have negatively impacted terrorism. Moreover, the findings suggest that FDI and corruption are irrelevant in explaining terrorism while the findings regarding employment level and terrorism are unexpected. The obtained results are robust to alternative estimating methodologies. The results have serious policy implications for the MENA region. The MENA region in general is suggested to devise appropriate policies regarding their huge natural resources so as to tackle the terrorism problem effectively. Similarly, paying favorable attention to trade liberalization, political stability, government expenditures, investment, rising income of the population in the presence of macroeconomic stability in the form of lower inflation would also help the MENA region to eradicate the problem of terrorism. The available literature has largely ignored the role of natural resources in explaining the problem of terrorism. Therefore, this study has provided relatively new evidence regarding the determinants of terrorism.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-02-12
DOI: 10.1108/JEAS-01-2023-0024
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Impact of COVID-19 pandemic on rural migrants of Bihar:
a cross-sectional study-
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Authors: Sandeep Kumar
Abstract: This paper presents a cross-sectional study that assessed the impact of the COVID-19 pandemic on rural migrants in Bihar. The primary objective of this study was to evaluate the overall impact of the pandemic on migrants and examine their livelihoods, with a focus on identifying measures that can mitigate the economic consequences. This study used a telephonic survey to collect primary data from 419 respondents. Descriptive statistics were used to analyze the data, and three indices were constructed: fear and worries, trust and prevention. The findings provide insights into the psychological well-being of migrant workers and highlight the challenges they face in sustaining their livelihoods amidst the pandemic. This study concludes by suggesting potential measures to alleviate the economic impact and enhance the resilience of this vulnerable population. This study may be limited by the representativeness of the sample as well as the potential for social desirability bias. The study may also be limited by the reliability and validity of the measures used to capture the fear and worries, trust and prevention indices. Numerous studies have examined the impact of the COVID-19 pandemic on rural migrants. However, there are limited studies that estimate the impact of the proposed study based on the challenges faced by rural migrants in Bihar during the pandemic.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-02-08
DOI: 10.1108/JEAS-06-2023-0142
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Global and domestic drivers of inflation: evidence from select South
Asian countries-
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Authors: Muhammad Sajid, Amanat Ali, Sareer Ahmad, Nikhil Chandra Shil, Izaz Arshad
Abstract: This study empirically examines the impact of some domestic as well as global factors such as trade openness (TO), money supply (MS), exchange rate, global oil prices (GOPs) and interest rate (IR) on inflation. This study deploys a quantitative method considering 30 years of data (1991–2020) from four South Asian countries, namely, Sri Lanka, Pakistan, Bangladesh and India. To determine the potential impact of different factors on inflation, this study applies the panel analysis of the system generalized method of moments (SGMM). This study empirically finds that TO, MS, exchange rate and GOPs have a positive impact on inflation, while IR and the structural adjustment program (SAP) have a negative impact on inflation. Out of the various determinants considered in this study, TO, exchange rate and the SAP are insignificant, while the rest of the variables are significant and consistent with previous studies. This study informs policymakers about maintaining price stability and fostering economic growth in South Asian nations. It breaks new ground as the first empirical examination of the International Monetary Fund (IMF)’s SAP impact on inflation in the region. This study tries to find out whether the SAP of the IMF is responsible for inflation in South Asian countries. It gives renewed attention to the causality of inflation from the perspective of countries receiving loans from donors, especially the IMF.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-02-05
DOI: 10.1108/JEAS-05-2023-0110
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Whether the Chinese provinces have achieved their potential efficiency in
economic growth'-
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Authors: Raghuvir Kelkar, Kaliappa Kalirajan
Abstract: Most economic growth is concentrated in the eastern and coastal provinces of China, while the western and central provinces have not yet experienced the expected economic growth. This study aims to address the following crucial research questions: Do the central and western provinces achieved potential efficiency in economic growth' Have China’s provinces used their resources effectively in implementing economic growth strategies' The research design concerns the use of a panel dataset on province-specific economic growth in China over the years to 2000–2020. The methodology used was a stochastic frontier gross domestic product (GDP) model with time-varying technical efficiency over time. The approach uses the existing literature to identify the important variables influencing economic growth at the provincial level to model the stochastic frontier GDP model for empirical analysis. This study concludes that the central provinces show the highest rate of efficiency in economic growth, though not 100%, followed by the Eastern and Western provinces. By increasing and improving skilled education institutes and intensifying supply chain opportunities through foreign direct investment (FDI), the central provinces achieving 100% growth efficiency may not be ruled out. The modes of economic governance and policies to improve GDP growth have been rapidly changing from increasing incentives to improving competition. Thus, more unique avenues and expansion of the horizon for impending research on provincial, national and international macroeconomics would emerge that would make current methodologies of the growth analysis outdated. The empirical analysis highlights the importance of improving skilled education institutes and intensifying supply chain opportunities through FDI for achieving sustained economic growth. The empirical analysis facilitates finding ways to reduce income inequality across provinces in China. To the authors' knowledge empirical analysis examining the Chinese province-specific economic growth efficiency explicitly has not been carried out using the recent Chinese panel dataset.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-01-19
DOI: 10.1108/JEAS-07-2023-0177
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Using a comprehensive DEMATEL-ISM-MICMAC and importance–performance
analysis to study sustainable service quality features-
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Authors: Maryam Ebrahimi, Amir Daneshvar, Changiz Valmohammadi
Abstract: To gain and differentiate competitive advantage, the sustainable service quality is a determining factor that railway companies can use. The purpose of this study is to identify both the importance and performance of rail transportation service quality factors in a case study as well as determine the most influential quality features. A comprehensive approach namely importance–performance analysis (IPA) technique and decision-making trail and evaluation laboratory (DEMATEL), and interpretive structural modeling (ISM) and Matriced’ Impacts Croisés Multiplication Appliquée á un Classement (MICMAC) techniques was utilized. The relative position of each attribute is specified on the IPA matrix proposing four strategies of concentrate here, keep up the good work, low priority and possible overkill. This study reveals that attributes of “the company cares about having a good society” are the most influential factor, and “having good business relations with shareholders” is the most permeable factor. Actually, consumers pay attention to how companies act toward society and maintain communication with shareholders. Through ISM technique and by summing the row and column of the consistency matrix, the attributes were partitioned into four levels. Also, MICMAC analysis identified the four clusters of linkage, independent, autonomous and dependent status of the attributes in terms of the driving power and dependence power. Due to the nature of single case study methodology, caution should be taken into consideration regarding the generazability of the obtained results. The hybrid DEMATEL-ISM technique is used to analyze service quality factors in Iran’s transportation industry, which can be utilized in other industries as well as other countries.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-01-12
DOI: 10.1108/JEAS-05-2023-0114
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- The ramification of competition and concentration on bank risk-taking
behavior and stability: corroboration from South Asian Association for
Regional Cooperation-
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Authors: Shanza Maryam Khan, Shahzad Akhtar
Abstract: The study investigates the impact of competition and concentration on bank risk-taking behavior and stability in the South Asian Association for Regional Cooperation (SAARC) region. Data from 100 banks from 2013 to 2021 was analyzed using dynamic and static measures by using dynamic system GMM. Results showed that higher competition reduces stability, while concentration in the banking sector produces stability and reduces risk-taking behavior. The findings suggest that regulatory agencies should take different actions based on the degree of banking market concentration to enhance banking sector stability in the SAARC area. The research helps regulators and decision-makers establish capital requirements at levels that would prevent banks from increasing their risk-taking in order to boost profits and, therefore, reduces hazardous practices that might increase the risk. The research helps establish capital requirements to prevent banks from increasing risk-taking to boost profits and avoid hazardous practices that could increase nonperforming loans and bank failure risks.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-01-12
DOI: 10.1108/JEAS-05-2023-0132
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Investigating the agriculture-induced environmental Kuznets curve
hypothesis in South Asian economies-
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Authors: Anam Ul Haq Ganie, Arif Mohd Khah, Masroor Ahmad
Abstract: The main purpose of this study is to investigate the agriculture-induced environmental Kuznets curve (EKC) hypothesis in South Asian economies (SAE). This study employs econometric techniques, including Westerlund cointegration tests, cross-sectional augmented distributive lag model (CS-ARDL) and Dumitrescu and Hurlin (DH) causality tests to investigate the relationship between renewable and non-renewable energy consumption, agriculture, economic growth, financial development and carbon emissions in SAE from 1990 to 2019. The CS-ARDL test outcome supports the presence of the agriculture-induced EKC hypothesis in SAE. Additionally, through the application of the DH causality test, the study confirms a unidirectional causality running from renewable energy consumption (REC), fossil fuel consumption (FFC), economic growth (GDP) and squared economic growth (GDP2) to carbon dioxide (CO2) emissions. This study proposes that future research should extend comparisons to worldwide intergovernmental bodies, use advanced econometric methodologies for accurate estimates, and investigate incorporating the service or primary sector into the EKC. Such multidimensional studies can inform various methods for mitigating global climate change and ensuring ecological sustainability. Environmental degradation has been extensively studied in different regions and countries, but SAE face significant constraints in addressing this issue, and comprehensive studies in this area are scarce. This research is pioneering as it is the first study to investigate the applicability of the agriculture-induced EKC in the South Asian region. By filling this gap in the current literature, the study provides valuable insights into major SAE and their environmental challenges.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-01-10
DOI: 10.1108/JEAS-08-2023-0212
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Demystifying the effect of social media usage and eWOM on purchase
intention: the mediating role of brand equity-
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Authors: Zebran Khan, Ariba Khan, Mohammed Kamalun Nabi, Zeba Khanam
Abstract: The purpose of this study is to examine an integrated model, in which brand equity (BE) mediates the effects of social media usage (SMU) and electronic word of mouth (eWOM) on purchase intentions among Indian consumers of branded apparel. An online questionnaire was used to collect data from 317 Indian customers of branded apparel, and the data were analyzed using the partial least squares structural equation modeling (PLS-SEM) with the help of SmartPLS version 4. First, the results indicated that SMU, eWOM and BE significantly impact consumers purchase intention; at the same time, BE is influenced by SMU and eWOM. Second, results confirmed that BE partially mediates the effects of SMU and eWOM on the purchase intentions of consumers of apparel brands. The study's dataset is limited in its generalizability as it is based on specific responses from Indian consumers of branded apparel via an online survey. The results of this study would help marketers and advertisers create customized advertising campaigns for the people who are most likely to buy their products. Marketers can also use social media to promote the uniqueness or point of difference (PoD) of their apparel brands. To the best of the authors' knowledge, no study has been conducted on apparel brands in the Indian context that has tested an integrative model, in which BE mediates the effects of SMU and eWOM on the purchase intentions of customers of apparel brands.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-01-09
DOI: 10.1108/JEAS-05-2023-0102
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Understanding the impact of ethical leadership on followers' voice:
mediation of moral identity and moderation of proactive personality-
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Authors: Kanwal Zahoor, Faisal Qadeer, Muhammad Sheeraz, Imran Hameed
Abstract: Drawing upon social learning theory (SLT), the study examines the consequences of ethical leadership on followers' voice behavior facets (promotive and prohibitive). The study tests hypotheses about the processing mechanism (moral identity) and the boundary condition (proactive personality) to understand these relationships. The study collected time-lagged survey data through an online structured questionnaire from 182 respondents. Confirmatory factor analysis (CFA) was used to ensure the validity and reliability of the data. Moreover, structural equation modeling was run to test the hypotheses using AMOS. Ethical leadership positively affects followers' promotive and prohibitive voice behavior via the psychological mechanism of moral identity. Proactive personality moderates the moral identity – promotive and moral identity – prohibitive voice relationships, such that these relations are stronger when the individuals are high on proactive personality. Robust evidence of a genuine cause-and-effect relationship may not be yielded owing to cross-sectional and self-reported data at the follower level of analysis. Future researchers can use dyadic, longitudinal and experimental designs to overcome these limitations. Organizations targeting to increase voice behavior can benefit from maintaining ethical leaders and proactive followers at the workplace. The study significantly contributes to the ethical leadership and voice behavior literature. Ethical leadership enhances followers' promotive/prohibitive voice behaviors through their moral identity enhancement. The paper also confirmed that a proactive personality is a critical boundary condition in these relationships. Empirical evidence from the Eastern context has been added, and research directions have also been provided.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-01-05
DOI: 10.1108/JEAS-04-2023-0098
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Do agency costs and business risk affect the corporate
sustainability–financial performance relationship'-
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Authors: Ismail Kalash
Abstract: The aim of this research is to examine the effect of corporate sustainability performance on financial performance and the role of agency costs and business risk in determining this effect. This study uses the data of 83 non-financial Turkish firms listed on Istanbul Stock Exchange during the period 2014–2021. Two-step system GMM models are applied to examine the study’s hypotheses. The results indicate a positive effect of corporate sustainability performance on financial performance, and that this effect is significant only for firms that are more likely to suffer agency costs of equity, firms with R&D expenditures and firms with lower business risk. The results of this study confirm the importance of regulations introduced by regulators to support the sustainability initiatives for firms that have less ability to access funds required for their investments. In addition, the findings provide important insight into the role of the persistence of corporate sustainability performance in enhancing financial performance through mitigating managers' opportunistic behavior. To the author’s knowledge, this research is one of few that examine the effect of agency costs and business risk on the corporate sustainability–financial performance relationship in emerging markets.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-01-02
DOI: 10.1108/JEAS-07-2023-0172
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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- Investigating nostalgia’s influence on brand love
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Authors: Faraz Sadeghvaziri, Leila Shafeie
Abstract: The present study aims to deepen the understanding of the relationship between nostalgic brand positioning, nostalgic brand relationship dimensions and brand love. This study is based on the data collected from 401 citizens of Tehran aged over 18 years old. Respondents admitted that they have felt love for at least one Iranian brand in their lives. The data collected from a questionnaire and the hypothesized relationships were analyzed using the partial least squares approach using Smart PLS. The results showed that nostalgic brand positioning positively and significantly impacts nostalgic brand relationship dimensions. Also, there was a positive and significant relationship between nostalgic brand relationship dimensions and brand love. Nostalgic brand positioning has a significant effect on brand love through the mediating role of the nostalgic brand relationship. The major contribution of this research is that, based on the construal level theory and literature review, the authors developed a conceptual model in which nostalgic brand relationship dimensions, i.e. emotional attachment, brand local iconness, and brand authenticity, explain how nostalgic brand positioning results in brand love.
Citation: Journal of Economic and Administrative Sciences
PubDate: 2024-01-01
DOI: 10.1108/JEAS-11-2022-0256
Issue No: Vol. ahead-of-print, No. ahead-of-print (2024)
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