Search results
1 – 9 of 9Gaetano Matonti, Giuseppe Iuliano and Orestes Vlismas
This study aims to explore the effects of intellectual capital (IC) on the occurrence of a modified audit opinion decision. The authors expect that high IC intensive firms are…
Abstract
Purpose
This study aims to explore the effects of intellectual capital (IC) on the occurrence of a modified audit opinion decision. The authors expect that high IC intensive firms are positively associated with the occurrence of a modified audit opinion since they are associated with an increased business risk and are more likely to exhibit issues concerning their financial health and stability.
Design/methodology/approach
Using a data sample of 423 listed firms from Greece, Italy, Spain and Portugal over a 10-year period, the authors estimated a logistic regression model to examine the effects of IC on the probability that a modified audit opinion is issued. The authors used organizational capital as a measure of a firm’s intensity on IC.
Findings
Empirical findings indicate a significant and positive relationship between the IC and the likelihood of a firm receiving a modified audit opinion decision.
Originality/value
This study expands prior literature by exploring the predictive ability of IC on the likelihood of a firm receiving a modified audit opinion decision.
Details
Keywords
Yunxuan Carrie Zhang, Dina M.V. Zemke, Amanda Belarmino and Cass Shum
Job satisfaction is essential in understanding turnover intentions. Previous studies reveal that highly educated hospitality employees generally have lower levels of job…
Abstract
Purpose
Job satisfaction is essential in understanding turnover intentions. Previous studies reveal that highly educated hospitality employees generally have lower levels of job satisfaction, indicating that the antecedents of job satisfaction may be different from hospitality managers and frontline employees. This study compared the different antecedents of job satisfaction for housekeeping managers and employees.
Design/methodology/approach
This study used a mixed-methods approach for a two-part study. The researchers recruited housekeeping managers for the exploratory survey. The results of open-end questions helped us build a custom dictionary for the text mining of comments from Glassdoor.com. Finally, a multilinear regression of themes from housekeeping employees’ ratings on Glassdoor.com was conducted to understand the antecedents of job satisfaction for housekeeping managers and employees.
Findings
The results of the exploratory survey indicated that the housekeeping department has an urgent need for organizational support and training. The text-mining revealed organizational support impacts both managers and frontline employees, while training impacts managers more than employees. Finally, the regression analysis showed compensation, business outlook, senior management, and career opportunity impacted both groups. However, work-life balance only influenced managers.
Originality/value
With a large number of employees at low salaries, housekeeping departments have a higher-than-average turnover rate for lodging. This study is among the first to compare the antecedents of managers’ and frontline employees’ job satisfaction in the housekeeping department, extending Social Exchange Theory. It provides suggestions for the housekeeping department to decrease turnover intentions.
Details
Keywords
Ade Imam Muslim and Doddy Setiawan
Our study aims to explore the ownership structure and accounting conservatism in influencing the value relevance that we analyse through the paradigm of open innovation and…
Abstract
Purpose
Our study aims to explore the ownership structure and accounting conservatism in influencing the value relevance that we analyse through the paradigm of open innovation and socio-emotional wealth (SEW). We also extended the test to identify how firm size could affect value relevance.
Design/methodology/approach
Through panel data testing, we collected all issuers on the stock exchange for the 2016–2018 period. The total collected observations are 735 observations from various industries.
Findings
The results of the study provide empirical evidence that institutional ownership is more pronounce, especially in companies with high asset levels. We also conducted other tests to see it from the perspective of SEW. We divide companies into family and non-family companies. The results of this study indicate that institutional ownership has an effect on increasing value relevance, especially in family companies compared with non-family companies. The results of the study also indicate that accounting conservatism plays a more important role in increasing value relevance in non-family firms compared to family firms.
Originality/value
This study advances in two main ways. First, we use a SEW approach and an open innovation perspective. Second, we conducted tests for family and non-family firms.
Details
Keywords
Tapas Kumar Sethy and Naliniprava Tripathy
This study aims to explore the impact of systematic liquidity risk on the averaged cross-sectional equity return of the Indian equity market. It also examines the effects of…
Abstract
Purpose
This study aims to explore the impact of systematic liquidity risk on the averaged cross-sectional equity return of the Indian equity market. It also examines the effects of illiquidity and decomposed illiquidity on the conditional volatility of the equity market.
Design/methodology/approach
The present study employs the Liquidity Adjusted Capital Asset Pricing Model (LCAPM) for pricing systematic liquidity risk using the Fama & MacBeth cross-sectional regression model in the Indian stock market from January 1, 2012, to March 31, 2021. Further, the study employed an exponential generalized autoregressive conditional heteroscedastic (1,1) model to observe the impact of decomposed illiquidity on the equity market’s conditional volatility. The study also uses the Ordinary Least Square (OLS) model to illuminate the return-volatility-liquidity relationship.
Findings
The study’s findings indicate that the commonality between individual security liquidity and aggregate liquidity is positive, and the covariance of individual security liquidity and the market return negatively affects the expected return. The study’s outcome specifies that illiquidity time series analysis exhibits the asymmetric effect of directional change in return on illiquidity. Further, the study indicates a significant impact of illiquidity and decomposed illiquidity on conditional volatility. This suggests an asymmetric effect of illiquidity shocks on conditional volatility in the Indian stock market.
Originality/value
This study is one of the few studies that used the World Uncertainty Index (WUI) to measure liquidity and market risks as specified in the LCAPM. Further, the findings of the reverse impact of illiquidity and decomposed higher and lower illiquidity on conditional volatility confirm the presence of price informativeness and its immediate effects on illiquidity in the Indian stock market. The study strengthens earlier studies and offers new insights into stock market liquidity to clarify the association between liquidity and stock return for effective policy and strategy formulation that can benefit investors.
Details
Keywords
Fernanda Cigainski Lisbinski and Heloisa Lee Burnquist
This article aims to investigate how institutional characteristics affect the level of financial development of economies collectively and compare between developed and…
Abstract
Purpose
This article aims to investigate how institutional characteristics affect the level of financial development of economies collectively and compare between developed and undeveloped economies.
Design/methodology/approach
A dynamic panel with 131 countries, including developed and developing ones, was utilized; the estimators of the generalized method of moments system (GMM system) model were selected because they have econometric characteristics more suitable for analysis, providing superior statistical precision compared to traditional linear estimation methods.
Findings
The results from the full panel suggest that concrete and well-defined institutions are important for financial development, confirming previous research, with a more limited scope than the present work.
Research limitations/implications
Limitations of this research include the availability of data for all countries worldwide, which would make the research broader and more complete.
Originality/value
A panel of countries was used, divided into developed and developing countries, to analyze the impact of institutional variables on the financial development of these countries, which is one of the differentiators of this work. Another differentiator of this research is the presentation of estimates in six different configurations, with emphasis on the GMM system model in one and two steps, allowing for comparison between results.
Details
Keywords
Tyler Prochnow and Megan S. Patterson
Online gaming has emerged as a popular activity providing a social outlet for millions. However, implications of online game networks for mental health remain disputed. Concepts…
Abstract
Purpose
Online gaming has emerged as a popular activity providing a social outlet for millions. However, implications of online game networks for mental health remain disputed. Concepts of bridging social capital and bonding social capital may help characterize protective factors within social networks. This study aims to examine the associations between social capital derived from online versus in-person networks and mental health indicators among gamers.
Design/methodology/approach
Online gamers (n = 301) completed an online survey assessing their social networks (both in-person and through online gaming) and mental health indicators (depressive symptoms, anxiety, social isolation, perceived social support). Social network analysis was used to analyze bridging (network size, effective size, heterogeneity, weak ties) and bonding (closeness, frequent contact, confiding, connection quality) social capital. Separate linear regression models evaluated associations between bridging and bonding social capital for both online and in-person networks and depressive symptoms, anxiety, social support and social isolation.
Findings
In-person network characteristics showed the strongest associations with mental health outcomes. Greater average closeness and frequent confiding in the in-person network predicted lower isolation and fewer depressive symptoms. More diverse relationship types also correlated with lower depression. For online networks, closeness and confiding ties associated only with less isolation and greater support, not depressive symptoms, or anxiety.
Originality/value
While online gaming networks provide some degree of social support, in-person social capital exhibited stronger associations with mental health. This reinforces the importance of face-to-face relationships for emotional well-being. Findings suggest helping gamers cultivate close bonds offline. However, online connections still matter and should not be discounted.
Details
Keywords
Rohmini Indah Lestari, Indarto Indarto and Yuli Budiati
Examining the role of women on board (WoB) toward corporate sustainable growth (CSG) through leverage policy (LP). This research also investigates the interaction effect of WoB…
Abstract
Purpose
Examining the role of women on board (WoB) toward corporate sustainable growth (CSG) through leverage policy (LP). This research also investigates the interaction effect of WoB and LP on improving CSG.
Design/methodology/approach
This study uses a moderated mediation model to examine the impact of WoB on CSG, mediated by LP. Data from 48 KEHATI IDX ESG Sector Leaders Index companies observed from 2015 to 2021 were analyzed using the structural equation model partial least square (SEM-PLS) Warp.PLS 8.0. The research applies instrumental variables (IV) to test and control endogeneity due to nonrandom sample selection.
Findings
We found evidence that LP acts as a full mediator between the presence of WoB and CSG. The presence of WoB plays a moderate role by slightly weakening the influence of LP on CSG. Furthermore, we obtained evidence showing that the relationship between WoB and CSG is J-curve-shaped, a nonlinear relationship related to critical mass. Where the WoB ratio is at least 8.35% or higher, it will increase CSG in companies that have implemented the concept of environment social governance (ESG) in Indonesia.
Originality/value
This model uses a moderated mediation model and J-curve analysis; there is an interaction between WoB and LP on different paths of the mediator to CSG. This model examines the role of WoB as a moderator of the effect of LP on CSG. A nonlinear J-curve test was conducted to determine the minimum level of WoB that can influence the increase of CSG.
Details
Keywords
Paulina P.Y. Wong, Mike S.F. Hui and Angus W.H. Yip
Addressing Environmental, Social and Governance (ESG) issues has become a critical aspect of business strategy. Since ESG has primarily focused on ratings and measures for…
Abstract
Purpose
Addressing Environmental, Social and Governance (ESG) issues has become a critical aspect of business strategy. Since ESG has primarily focused on ratings and measures for reporting, there is a scarcity of methods to assist stakeholders in better comprehending corporate risk and addressing ESG-related issues and problems. The purpose of this paper is to propose a new model to narrow the critical gap.
Design/methodology/approach
This study is based on several well-known structural frameworks for managing risks and projects in various industries. Two case studies on topics related to environment (E) and social (S) responsibility are used to demonstrate the practical implementation of the CEPAR® model.
Findings
The CEPAR® model, a trademarked five-step methodology (the Challenge-Evaluation-Planning-Action-Review model) was developed by the International Chamber of Sustainable Development (ICSD). The method and guidelines are outlined for easier appreciation by stakeholders of corporations to analyze ESG-related challenges and dilemmas, then able to make principled decisions, take actions, and review the outcomes. Each phase of the new model adheres to the theoretical and practical frameworks for problem-solving and decision-making, emphasizing the iterate process of addressing challenges, evaluating materiality, planning actions, taking actions, and reviewing the outcomes.
Originality/value
The new model is applicable for business corporations and organizations seeking to gain insight and tackle crucial ESG issues, ultimately improving their short- and long-term decision-making and business opportunities.
Details
Keywords
Alejandro Rodriguez-Vahos, Sebastian Aparicio and David Urbano
A debate on whether new ventures should be supported with public funding is taking place. Adopting a position on this discussion requires rigorous assessments of implemented…
Abstract
Purpose
A debate on whether new ventures should be supported with public funding is taking place. Adopting a position on this discussion requires rigorous assessments of implemented programs. However, the few existing efforts have mostly focused on regional cases in developed countries. To fill this gap, this paper aims to measure the effects of a regional acceleration program in a developing country (Medellin, Colombia).
Design/methodology/approach
The economic notion of capabilities is used to frame the analysis of firm characteristics and productivity, which are hypothesized to be heterogeneous within the program. To test these relationships, propensity score matching is used in a sample of 60 treatment and 16,994 control firms.
Findings
This paper finds that treated firms had higher revenue than propensity score-matched controls on average, confirming a positive impact on growth measures. However, such financial growth is mostly observed in service firms rather than other economic sectors.
Research limitations/implications
Further evaluations, with a longer period and using more outcome variables, are suggested in the context of similar publicly funded programs in developing countries.
Originality/value
These findings tip the balance in favor of the literature suggesting supportive programs for high-growth firms as opposed to everyday entrepreneurship. This is an insight, especially under the context of an emerging economy, which has scarce funding to support entrepreneurship.
Details