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1 – 10 of 66The unsustainable public debt of most African economies adversely affects their economic growth and stability. This study aims to explore the influence of cross-country indicators…
Abstract
Purpose
The unsustainable public debt of most African economies adversely affects their economic growth and stability. This study aims to explore the influence of cross-country indicators of governance from African countries on public debt accumulation.
Design/methodology/approach
The study deployed a quantitative research design technique. Secondary data was used in this study. The frequency of the data is annual, and it is available from 1996 to 2022 for 48 countries in Africa. The study deployed the system generalized method of moments for the estimation.
Findings
The study finds that countries with high regulatory quality standards, control corruption and ensure effective governance accumulate less government debt while countries that abide by the rule of law instead accumulate more government debt. The study also finds that economic growth and government revenue reduce government gross debt while government expenditure and investments increase public debt.
Research limitations/implications
Due to data unavailability, other factors which are likely to influence government debt accumulation were not included in the study as control variables. This is the limitation of the study.
Social implications
African governments should strive to maintain high regulatory quality standards through the formulation and implementation of sound policies and regulations that permit and promote private sector development, and ensure quality and accountability of public and civil services. Governments are also urged to control corruption and enact good laws so that the enforcement of these laws will not worsen the risk of becoming debt-distressed.
Originality/value
Recent studies on governance and public debt were focused on the Arabian Gulf countries, countries of the Middle East and North Africa (MENA) region and a combination of high and low-income countries. This study scrutinizes exclusively the effects of the quality of governance indicators on public debt accumulation, in the context of Africa.
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Yahya Saleh, Ahmed Adnan Zaid and Rania Omar
This paper aims to investigate the relationship between total quality management (TQM) and the innovation performance of small and medium enterprises (SMEs) through empirical…
Abstract
Purpose
This paper aims to investigate the relationship between total quality management (TQM) and the innovation performance of small and medium enterprises (SMEs) through empirical testing. It also seeks to determine whether the relationship between TQM and SMEs’ innovation is mediated by organizational culture (OC).
Design/methodology/approach
Data from managers/owners of food SMEs in the West Bank regions of Palestine were collected through a questionnaire that was assessed for validity and reliability. A structural equation model (SEM) was constructed using Smart PLS 3.9.2 to investigate the relationships.
Findings
The statistical results contribute to the existing literature by demonstrating a direct and positive relationship between TQM and OC where both have a positive and significant impact on innovation in food SMEs. Additionally, the study found that there is a significant and positive indirect impact of TQM on innovation in food SMEs, which is mediated by OC.
Research limitations/implications
The study's results offer valuable insights to food SMEs' managers/owners in the current dynamic manufacturing landscape, with a focus on using TQM as a means of enhancing their innovation. The findings can provide guidance to food SMEs by highlighting the significance of OC, as it impacts the effective implementation of TQM and subsequently leads to an improvement in innovation levels.
Originality/value
This study enhances the existing literature on TQM by providing an in-depth understanding of TQM as perceived by food SMEs in Palestine. It addresses the gap in empirical research on the combined impact of TQM and OC on innovations in food SMEs. The study contributes to the theoretical framework and has significant managerial implications, providing recommendations for future research.
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Ahmed Soliman, Yahya A. Soliman, Ghada Farouk Hassan and Samy Afifi
The purpose of this article is to examine Cairo's master plans during the past 70 years, including the establishment of the New Administrative Capital City—which is based on two…
Abstract
Purpose
The purpose of this article is to examine Cairo's master plans during the past 70 years, including the establishment of the New Administrative Capital City—which is based on two fundamental courses on the phenomenon of urbanisation—and other initiatives to address Cairo's Plans based on the thoughts of three planning schools—Chicago, Los Angeles and Liverpool. The aim is to determine if the right time to relocate Egypt's capital to a different place makes sense.
Design/methodology/approach
Cairo has experienced significant urban challenges throughout its millennial history due to the continually shifting socioeconomic and political changes. This research uses prospective and retrospective methods to examine how planning theories have historically influenced building Cairo’s urban fabric and provides insight into the city’s master plans from the July Revolution of 1952.
Findings
It is assumed that Cairo's socio-spatial transitions over time were caused by scattered expansion, leading to contemporary Cairo's socio-spatial evolution. The paper ends with some questions about the future of the city. Should planning policies change to cope with socioeconomic, spatial and political transitions?
Originality/value
The article's significance stems from the necessity of adaptable and considerate ideas that move Cairo's communities towards a better setting and provide a crucial route for enhancing their environments. Using digital technologies to implement new capital while creating platform urbanism may be accomplished even with constrained budgets and short course lengths.
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Ammar Nawaz Khan, Farzan Yahya and Muhammad Waqas
This study investigates the mediating role of working capital management (WCM) efficiency between board diversity (based on gender and financial knowledge) and firm performance…
Abstract
Purpose
This study investigates the mediating role of working capital management (WCM) efficiency between board diversity (based on gender and financial knowledge) and firm performance. The study further examines which WCM approach (conservative, moderate, and aggressive) they employ to increase (decrease) firm performance.
Design/methodology/approach
The study employs listed energy firms of Pakistan over the period 2010 to 2019. The system generalized method of moments estimator and logit model are utilized to estimate the underlying relationships.
Findings
The results show that WCM efficiency partially mediates the relationship between board financial expertise (BFE) and firm performance. Nonetheless, the presence of female directors is merely symbolic until they reach a certain level as only the quadratic term of board gender diversity (BGD) has a significant effect on firm performance. Female directors do not influence WCM efficiency. The results also demonstrate that BGD encourages a conservative WCM approach, while BFE encourages a moderate WCM approach. Furthermore, both conservative and moderate WCM approaches are significantly associated with firm performance.
Practical implications
The findings hold implications for increasing the representation of women and financial experts on board to improve the capital structure decisions of the energy firms in Pakistan.
Originality/value
This study is the first attempt to explore the mediating role of WCM efficiency between board diversity and firm performance. To the best of the authors' knowledge, no previous study has investigated the effect of BGD and BFE on different WCM approaches distinctly.
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Victoria Abena Nutassey, Bomi Cyril Nomlala and Mabutho Sibanda
This study assessed the role of political institutions in the relationship between economic institutions and public debt in Sub-Saharan Africa.
Abstract
Purpose
This study assessed the role of political institutions in the relationship between economic institutions and public debt in Sub-Saharan Africa.
Design/methodology/approach
Based on data availability, the study was done for 40 Sub-Saharan African countries from 2010 to 2019 employing generalized method of moment.
Findings
The authors documented a negative and significant relationship between economic institutions and public debt as well as a negative and significant effect of political institutions on public debt in SSA. Also, the study recorded that political institutions play a negative and significant role in the economic institutions-public debt nexus in Sub-Saharan Africa. However, a threshold of 3.691 is given when it comes to the role of political institutions in the association between government spending and public debt nexus in SSA.
Research limitations/implications
The authors failed to take certain indicators of economic institutions, such as freedom to trade internationally, the size of government and legal system and property into consideration.
Practical implications
The authors suggest that democracy is necessary for boosting economic institutions-induced public debt reduction in SSA.
Originality/value
The novelty of this study is evident in two ways: first, the authors assessed the relationship between economic institutions and public debt in SSA using novel measures such as government integrity, tax burden and government spending from the Heritage Foundation instead of traditional institution measures from World Governance Indicators used by earlier studies. The authors further contribute to literature by being the first to consider the foundational role of political institutions in employing economic institutions to fight high public debt in SSA. Again, the authors included the threshold at which political institutions can cause economic institutions to have a desired impact on public debt in SSA.
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Oguzhan Ozcelebi, Jose Perez-Montiel and Carles Manera
Might the impact of the financial stress on exchange markets be asymmetric and exposed to regime changes? Departing from the existing literature, highlighting that the domestic…
Abstract
Purpose
Might the impact of the financial stress on exchange markets be asymmetric and exposed to regime changes? Departing from the existing literature, highlighting that the domestic and foreign financial stress in terms of money market have substantial effects on exchange market, this paper aims to investigate the impacts of the bond yield spreads of three emerging countries (Mexico, Russia, and South Korea) on their exchange market pressure indices using monthly observations for the period 2010:01–2019:12. Additionally, the paper analyses the impact of bond yield spread of the US on the exchange market pressure indices of the three mentioned emerging countries. The authors hypothesized whether the negative and positive changes in the bond yield spreads have varying effects on exchange market pressure indices.
Design/methodology/approach
To address the research question, we measure the bond yield spread of the selected countries by using the interest rate spread between 10-year and 3-month treasury bills. At the same time, the exchange market pressure index is proxied by the index introduced by Desai et al. (2017). We base the empirical analysis on nonlinear vector autoregression (VAR) models and an asymmetric quantile-based approach.
Findings
The results of the impulse response functions indicate that increases/decreases in the bond yield spreads of Mexico, Russia and South Korea raise/lower their exchange market pressure, and the effects of shocks in the bond yield spreads of the US also lead to depreciation/appreciation pressures in the local currencies of the emerging countries. The quantile connectedness analysis, which allows for the role of regimes, reveals that the weights of the domestic and foreign bond yield spread in explaining variations of exchange market pressure indices are higher when exchange market pressure indices are not in a normal regime, indicating the role of extreme development conditions in the exchange market. The quantile regression model underlines that an increase in the domestic bond yield spread leads to a rise in its exchange market pressure index during all exchange market pressure periods in Mexico, and the relevant effects are valid during periods of high exchange market pressure in Russia. Our results also show that Russia differs from Mexico and South Korea in terms of the factors influencing the demand for domestic currency, and we have demonstrated the role of domestic macroeconomic and financial conditions in surpassing the effects of US financial stress. More specifically, the impacts of the domestic and foreign financial stress vary across regimes and are asymmetric.
Originality/value
This study enriches the literature on factors affecting the exchange market pressure of emerging countries. The results have significant economic implications for policymakers, indicating that the exchange market pressure index may trigger a financial crisis and economic recession.
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Amer Sohail, Zohaib Butt, Affaf Asghar Butt and Aamer Shahzad
This study examines the effect of business group affiliations on corporate cash holdings and how political connectedness modifies the relationship between business group…
Abstract
Purpose
This study examines the effect of business group affiliations on corporate cash holdings and how political connectedness modifies the relationship between business group affiliations and corporate cash holdings.
Design/methodology/approach
The multiple ordinary least square regression with year dummies is used to estimate the effect of business groups on cash holdings. For moderating, the multiplicative term is used. The data from 252 non-financial firms listed on Pakistan Stock Exchange were collected for the analysis from 2010 to 2018.
Findings
The findings show that business group affiliations negatively affect corporate cash holdings, and political connection positively moderates this relationship. Business group firms that are politically connected hold less cash. The firm-specific factors such as leverage, size, cash flow, and dividend dummy also significantly affect corporate cash holdings.
Practical implications
The results imply that affiliated companies have lessened financing frictions and improved stability in their expected future cash flows. Moreover, the results indicate that political connection minimizes the opportunity and agency costs linked to cash holdings.
Originality/value
This study contributes to the existing literature by examining the moderating role of political affiliations on the relationship between business groups and cash holdings in the emerging market.
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Jayesh Pandey, Shubh Majumdarr, Rayees Farooq, Santushti Gupta and Pallav Bose
This study aims to conduct a bibliometric analysis of knowledge sharing during COVID-19 and highlight prominent contributors, diverse trends and themes followed with provisions of…
Abstract
Purpose
This study aims to conduct a bibliometric analysis of knowledge sharing during COVID-19 and highlight prominent contributors, diverse trends and themes followed with provisions of future research avenues.
Design/methodology/approach
The study through scientific procedures and rationales for systematic literature reviews framework analyses 148 peer-reviewed journal publications and conference proceedings indexed in Scopus and WoS databases from 2020 to 2022. It uses general statistics and diverse bibliometric techniques, including co-occurrence analysis for trend and cluster identification in the literature.
Findings
The findings reveal an exponential annual growth rate of 150% in the domain, highlighting the global research focus. With regards to domain contribution, the Journal of Knowledge Management and China leads with ten publications in their respective categories. The co-occurrence analysis further highlights four diverse clusters in the domain, which are further discussed in detail. The study highlights significant contributions from developed economies, thus providing scope for future research from developing or transitioning economies in the Middle East, Central Asia or Africa. The study concludes by presenting the elementary role of knowledge sharing in response to external crises.
Originality/value
The interest in the knowledge sharing domain has grown exponentially during the COVID-19 pandemic. This research is the first bibliometric analysis with comprehensive and rigorous analytic techniques to unearth critical developments and insights for a holistic understanding.
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Tapas Bantha, Umakanta Nayak and Subhendu Kumar Mishra
This study aims to examine the association between workplace spirituality (WPS) and individual’s work engagement (WE) and also the mediating effect of individual’s psychological…
Abstract
Purpose
This study aims to examine the association between workplace spirituality (WPS) and individual’s work engagement (WE) and also the mediating effect of individual’s psychological conditions [psychological meaningfulness (PSYM), psychological safety (PSYS) and psychological availability (PSYA)] on this relationship.
Design/methodology/approach
Grounded on Kahn’s personal engagement theory, a model has been developed with WPS as an independent variable, individual’s psychological conditions (PSYM, PSYS and PSYA) as the mediators and individual’s WE as the dependent variable. Based on the online responses from 510 millennial employees working in Fortune 500 manufacturing and service industries operating in India, analysis has been undertaken using confirmatory factor analysis, Pearson correlation and PROCESS macro of Hayes (2017).
Findings
WPS has been noted to influence individual’s WE positively and there is a partial mediation of PSYM, PSYS and PSYA on this relationship.
Research limitations/implications
The present study is able to extend the scope of Kahn’s personal engagement theory.
Practical implications
Leaders and HR administrators can use the framework to ensure positive engagement levels for the millennial workforce. It will also help to reduce job dissatisfaction and burnouts at the workplace.
Originality/value
The present study contributes to understanding WE through the lens of WPS. It adds to the existing knowledge by explaining the mediation of the psychological conditions between spirituality and WE among millennials working in India. To the best of the authors’ knowledge, this study can be considered one of the first studies that has attempted to understand the role of WPS and psychological conditions on WE levels of millennials.
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Since conducting agile strategies provides sustainable passenger satisfaction and revenue by replacing applied policies with more profitable ones rapidly, the focus of this study…
Abstract
Purpose
Since conducting agile strategies provides sustainable passenger satisfaction and revenue by replacing applied policies with more profitable ones rapidly, the focus of this study is to evaluate agile attributes for managing low-cost carriers (LCCs) operations by means of resources and competences based on dynamic capabilities built on resource-based view (RBV) theory and to achieve sustainable competitive advantage in a volatile and dynamic air transport environment. LCCs in Turkey are also evaluated in this study since the competition among LCCs is high to gain market share and they can adapt quickly to all kinds of circumstances.
Design/methodology/approach
Two well-known Multi-Criteria Decision-Making Methods (MCDM) named as the Stepwise Weight Assessment Ratio Analysis (SWARA) and multi-attributive border approximation area comparison (MABAC) methods by employing Picture fuzzy sets (PiFS) are employed to determine weight of agile attributes and superiority of LCCs based on agile attributes in the market, respectively. To check the consistency and robustness of the results for the proposed approach, comparative and sensitivity analysis are performed at the end of the study.
Findings
While the ranking orders of agile attributes are Strategic Responsiveness (AG1), Financial Management (AG4), Quality (AG2), Digital integration (AG3) and Reliability (AG5), respectively, LCC2 is selected as the best agile airline company in Turkey with respect to agile attributes. SWARA and MABAC method based on PiFS is appropriate and effective method to evaluate agile attributes that has important reference value for the airline companies in aviation industry.
Practical implications
The findings of this study will support managers in the airline industry to conduct airline operations more flexibly and effectively to take sustainable competitive advantage in unexpected and dynamic environment.
Originality/value
To the author' best knowledge, this study is the first developed to identify the attributes necessary to increase agility in LCCs. Thus, as a systematic tool, a framework is developed for the implementation of agile attributes to achieve sustainable competitive advantage in the airline industry and presented a roadmap for airline managers to deal with crises and challenging situations by satisfying customer and increasing competitiveness.
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