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Open Access
Article
Publication date: 12 December 2023

Robert Mwanyepedza and Syden Mishi

The study aims to estimate the short- and long-run effects of monetary policy on residential property prices in South Africa. Over the past decades, there has been a monetary…

Abstract

Purpose

The study aims to estimate the short- and long-run effects of monetary policy on residential property prices in South Africa. Over the past decades, there has been a monetary policy shift, from targeting money supply and exchange rate to inflation. The shifts have affected residential property market dynamics.

Design/methodology/approach

The Johansen cointegration approach was used to estimate the effects of changes in monetary policy proxies on residential property prices using quarterly data from 1980 to 2022.

Findings

Mortgage finance and economic growth have a significant positive long-run effect on residential property prices. The consumer price index, the inflation targeting framework, interest rates and exchange rates have a significant negative long-run effect on residential property prices. The Granger causality test has depicted that exchange rate significantly influences residential property prices in the short run, and interest rates, inflation targeting framework, gross domestic product, money supply consumer price index and exchange rate can quickly return to equilibrium when they are in disequilibrium.

Originality/value

There are limited arguments whether the inflation targeting monetary policy framework in South Africa has prevented residential property market boom and bust scenarios. The study has found that the implementation of inflation targeting framework has successfully reduced booms in residential property prices in South Africa.

Details

International Journal of Housing Markets and Analysis, vol. 17 no. 7
Type: Research Article
ISSN: 1753-8270

Keywords

Open Access
Article
Publication date: 21 December 2023

Ingo Pies and Vladislav Valentinov

Stakeholder theory understands business in terms of relationships among stakeholders whose interests are mainly joint but may be occasionally conflicting. In the latter case…

1026

Abstract

Purpose

Stakeholder theory understands business in terms of relationships among stakeholders whose interests are mainly joint but may be occasionally conflicting. In the latter case, managers may need to make trade-offs between these interests. The purpose of this paper is to explore the nature of managerial decision-making about these trade-offs.

Design/methodology/approach

This paper draws on the ordonomic approach which sees business life to be rife with social dilemmas and locates the role of stakeholders in harnessing or resolving these dilemmas through engagement in rule-finding and rule-setting processes.

Findings

The ordonomic approach suggests that stakeholder interests trade-offs ought to be neither ignored nor avoided, but rather embraced and welcomed as an opportunity for bringing to fruition the joint interest of stakeholders in playing a better game of business. Stakeholders are shown to bear responsibility for overcoming the perceived trade-offs through the institutional management of social dilemmas.

Originality/value

For many stakeholder theorists, the nature of managerial decision-making about trade-offs between conflicting stakeholder interests and the nature of trade-offs themselves have been a long-standing point of contention. The paper shows that trade-offs may be useful for the value creation process and explicitly discusses managerial strategies for dealing with them.

Details

Social Responsibility Journal, vol. 20 no. 5
Type: Research Article
ISSN: 1747-1117

Keywords

Open Access
Article
Publication date: 20 October 2023

Peterson K. Ozili

This paper aims to investigate the determinants of global interest in central bank digital currency (CBDC). It assessed whether global interest in sustainable development and…

1030

Abstract

Purpose

This paper aims to investigate the determinants of global interest in central bank digital currency (CBDC). It assessed whether global interest in sustainable development and cryptocurrency are determinants of global interest in CBDC.

Design/methodology/approach

Google Trends data were analyzed using two-stage least square regression estimation.

Findings

There is a significant positive relationship between global interest in sustainable development and global interest in CBDC. There is a significant positive relationship between global interest in cryptocurrency and global interest in the Nigeria eNaira CBDC. There is a significant negative relationship between global interest in CBDC and global interest in the eNaira CBDC. There is a significant positive relationship between global interest in CBDC and global interest in the China eCNY. There is a significant negative relationship between global interest in cryptocurrency and global interest in the Sand Dollar and DCash.

Originality/value

The literature has not empirically examined whether global interest in sustainable development and cryptocurrency are factors motivating global interest in CBDC. This study fills a gap in the literature by investigating whether global interest in sustainable development and cryptocurrency are factors motivating global interest in CBDC.

Open Access
Article
Publication date: 7 May 2024

Miriam Marie Sanders, Julia E. Calabrese, Micayla Gooden and Mary Margaret Capraro

Research has shown that science, technology, engineering and mathematics (STEM) self-beliefs and enjoyment are critical factors for predicting female students’ persistence in STEM…

Abstract

Purpose

Research has shown that science, technology, engineering and mathematics (STEM) self-beliefs and enjoyment are critical factors for predicting female students’ persistence in STEM degrees and careers. Studies have shown the positive effects of informal STEM learning experiences on female students’ self-beliefs. However, with the rise of all-female STEM learning experiences, such as summer camps, considering the potential advantages and disadvantages of co-ed options is important. Further, prior STEM education research has focused on sex differences in students’ self-efficacy and STEM career interests. Our study aims to examine within sex differences in secondary, female students (n = 104) who attend either a co-ed STEM camp or a same-sex STEM camp.

Design/methodology/approach

To examine potential differences, we conducted independent sample t-tests.

Findings

Results of the study include statistically significant differences in mathematics and science self-efficacy as well as STEM career interest after participating in their respective camps.

Originality/value

Further, prior research in STEM education has focused on between sex differences in students’ self-efficacy and STEM career interest.

Details

Journal of Research in Innovative Teaching & Learning, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2397-7604

Keywords

Open Access
Article
Publication date: 17 May 2024

Tayfun Güven, F. Burcu Çam, Bilsen Bilgili and Aysel Erci̇ş

Involvement plays a crucial role in understanding consumer behavior. In recent years, the concept of social innovation has gained momentum, resulting in the development of…

Abstract

Purpose

Involvement plays a crucial role in understanding consumer behavior. In recent years, the concept of social innovation has gained momentum, resulting in the development of eco-friendly products and initiatives to tackle societal issues. This trend is driven by consumers, who are increasingly aware of the social benefits of the products they buy. The present study aims to investigate how socially innovative, environmentally conscious consumers can influence their engagement with eco-friendly products.

Design/methodology/approach

Researchers aimed to investigate the “impact of social innovation on involvement in environmentally friendly products.” They selected active members of various environmental organizations operating in the country to conduct the study. Convenience sampling was used to reach out to these members, and the managers of these organizations sent an electronic questionnaire to all members' email addresses.

Findings

The study found that socially innovative, environmentally conscious consumers tend to be more interested in the symbolic meaning and pleasure of products, leading to a decrease in perceived risk and risk importance.

Originality/value

There are limited studies examining the relationship between social innovation and product innovation. Therefore, the novelty of this research lies in its exploration of the relationship between these two concepts. Unlike previous studies, this research found a negative relationship between the dimensions of risk importance and risk probability. This result was interpreted as environmentally friendly products being sensitive to public welfare and not being perceived as risky by environmentalists.

Details

Innovation & Management Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2515-8961

Keywords

Open Access
Article
Publication date: 29 April 2024

Evangelos Vasileiou, Elroi Hadad and Georgios Melekos

The objective of this paper is to examine the determinants of the Greek house market during the period 2006–2022 using not only economic variables but also behavioral variables…

Abstract

Purpose

The objective of this paper is to examine the determinants of the Greek house market during the period 2006–2022 using not only economic variables but also behavioral variables, taking advantage of available information on the volume of Google searches. In order to quantify the behavioral variables, we implement a Python code using the Pytrends 4.9.2 library.

Design/methodology/approach

In our study, we assert that models relying solely on economic variables, such as GDP growth, mortgage interest rates and inflation, may lack precision compared to those that integrate behavioral indicators. Recognizing the importance of behavioral insights, we incorporate Google Trends data as a key behavioral indicator, aiming to enhance our understanding of market dynamics by capturing online interest in Greek real estate through searches related to house prices, sales and related topics. To quantify our behavioral indicators, we utilize a Python code leveraging Pytrends, enabling us to extract relevant queries for global and local searches. We employ the EGARCH(1,1) model on the Greek house price index, testing several macroeconomic variables alongside our Google Trends indexes to explain housing returns.

Findings

Our findings show that in some cases the relationship between economic variables, such as inflation and mortgage rates, and house prices is not always consistent with the theory because we should highlight the special conditions of the examined country. The country of our sample, Greece, presents the special case of a country with severe sovereign debt issues, which at the same time has the privilege to have a strong currency and the support and the obligations of being an EU/EMU member.

Practical implications

The results suggest that Google Trends can be a valuable tool for academics and practitioners in order to understand what drives house prices. However, further research should be carried out on this topic, for example, causality relationships, to gain deeper insight into the possibilities and limitations of using such tools in analyzing housing market trends.

Originality/value

This is the first paper, to the best of our knowledge, that examines the benefits of Google Trends in studying the Greek house market.

Details

EconomiA, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1517-7580

Keywords

Open Access
Article
Publication date: 20 May 2024

Jaakko Rönkkö, Mikko Paananen and Aleksi Lahikainen

This study examines the effects of board members’ compensation on the voluntary establishment of an internal audit function in publicly listed firms. While previous studies have…

Abstract

Purpose

This study examines the effects of board members’ compensation on the voluntary establishment of an internal audit function in publicly listed firms. While previous studies have identified some individual determinants related to the voluntary establishment of an internal audit function, the existing evidence on how board members’ compensation affects voluntary use of internal audit is, at best, ambiguous, scarce and incoherent.

Design/methodology/approach

Board compensation is a central incentive instrument in the classic principal–agent relationship between the owners and board members. The theme is empirically examined by using data compiled from Finnish publicly listed companies for the period 2015 to 2018. Since the dependent variable of the study is a binary variable, the logistic regression method was chosen as the statistical method of the study.

Findings

Our results unequivocally show that generous compensation of the board members increases the likelihood of establishing an internal audit function. Thus, we conclude that good corporate governance can be improved through generous compensation of board members.

Originality/value

Identifying the determinants of internal audit is vital to better understand the mechanisms that facilitate firms' improvement of internal control and risk management in terms of voluntarily adopting an internal audit function, and the implementation of good governance in general. Although numerous determinants of internal audit have been identified in previous studies, this study showed that one of the key determinants has so far been overlooked; namely, the remuneration of board members.

Details

Baltic Journal of Management, vol. 19 no. 6
Type: Research Article
ISSN: 1746-5265

Keywords

Open Access
Article
Publication date: 23 May 2024

Peterson K. Ozili

This study aims to investigate the effect of CBDC issuance on economic growth rate and inflation rate in Nigeria. We are interested in determining whether the rate of economic…

Abstract

Purpose

This study aims to investigate the effect of CBDC issuance on economic growth rate and inflation rate in Nigeria. We are interested in determining whether the rate of economic growth and inflation changed significantly after the issuance of a non-interest bearing CBDC in Nigeria.

Design/methodology/approach

Two-stage least squares regression and granger causality test were used to analyze the data.

Findings

Inflation significantly increased in the CBDC period, implying that CBDC issuance did not decrease the rate of inflation in Nigeria. Economic growth rate significantly increased in the CBDC period, implying that CBDC issuance improved economic growth in Nigeria. The financial sector, agricultural sector and manufacturing sector witnessed a much stronger contribution to gross domestic product (GDP) after CBDC issuance. There is one-way granger causality between CBDC issuance and monthly inflation, implying that CBDC issuance causes a significant change in monthly inflation in Nigeria. The implication of the result is that the non-interest bearing eNaira CBDC is not able to solve the twin economic problem of “controlling inflation which stifles economic growth” and “stimulating economic growth which leads to more inflation.” Policy makers should therefore use the eNaira CBDC alongside other monetary policy tools at their disposal to control inflation while stimulating growth in the economy.

Originality/value

There are no empirical studies on the effect of CBDC issuance on economic growth or inflation using real-world data. We add to the monetary economics literature by analyzing the effect of CBDC issuance on economic growth and inflation.

Details

Journal of Money and Business, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2634-2596

Keywords

Open Access
Article
Publication date: 14 February 2024

Thomas D. Wilson

The aim of this paper is to review the psychological literature on curiosity and its relationship to information-seeking behaviour, and compare this with the information science…

1038

Abstract

Purpose

The aim of this paper is to review the psychological literature on curiosity and its relationship to information-seeking behaviour, and compare this with the information science literature on the same subject.

Design/methodology/approach

The approach adopted is that of a comparative literature review, with an analysis of the papers retrieved in terms of their theoretical approach, context, study population and research method.

Findings

Curiosity is understood as a multi-faceted cognitive trait in humans and the relationship to information-seeking behaviour is explored through an exploration of other personality characteristics. There is very little citation of the information science literature in the psychological papers, and only a little more citation of the psychological literature in the information science papers.

Originality/value

The author is not aware of any similar exploration of the literature on curiosity.

Details

Journal of Documentation, vol. 80 no. 7
Type: Research Article
ISSN: 0022-0418

Keywords

Open Access
Article
Publication date: 25 April 2024

Marianne Thejls Ziegler and Christoph Lütge

This study aims to analyse the differences between professional interaction mediated by video conferencing and direct professional interaction. The research identifies diverging…

Abstract

Purpose

This study aims to analyse the differences between professional interaction mediated by video conferencing and direct professional interaction. The research identifies diverging interests of office workers for the purpose of addressing work ethical and business ethical issues of professional collaboration, competition, and power in future hybrid work models.

Design/methodology/approach

Based on 28 qualitative interviews conducted between November 2020 and June 2021, and through the theoretical lens of phenomenology, the study develops explanatory hypotheses conceptualising four basic intentions of professional interaction and their corresponding preferences for video conferences and working on site.

Findings

The four intentions developed on the basis of the interviews are: the need for physical proximity; the challenge of collective creativity; the will to influence; and control of communication. This conceptual framework qualifies a moral ambivalence of professional interaction. The authors identify a connectivity paradox of professional interaction where the personal dimension remains unarticulated for the purpose of maintaining professionality. This tacit human connectivity is intertwined with latent power relations. This plasticity of both connectivity and power in direct interaction can be diminished by transferring the interaction to video conferencing.

Originality/value

The application of phenomenology to a collection of qualitative interviews has enabled the identification of underlying intention structures and the system in which they affect each other. This research identifies conflicts of interests between workers relative to their different self-perceived abilities to persevere in competitive professional interaction. It is therefore able to address consequences of future hybrid work models at an existential and societal level.

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