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This paper empirically investigates whether trade openness (TO) in Brazil, Russia, India, China and South Africa (BRICS) countries affects how banks might employ loan loss provisions (LLPs) to smooth out their earnings and how adopting the International Financial Reporting Standards (IFRS) can mitigate it.

The analysis includes 78 commercial banks from five BRICS nations and spans 2014 through 2020. To test these hypotheses, the authors utilized a fixed-effect and two-step system panel generalized methods of moments (GMM) estimator.

TO positively affects income smoothing (earnings management) across BRICS commercial banks. The effect is clearer in banks that make financial reports under the IFRS. Path analysis reveals that the effect of TO is driven by nonperforming loans (NPLs). Additionally, the IFRS restricts earnings management in the BRICS banking sector when a better institutional environment is present. The authors found that accounting rules (IFRS) and enforcement (better institutional settings) interact to enhance earnings’ quality.

The relationship between TO and bank earnings management practices is important for understanding the complex interplay between trade and finance and ensuring financial stability, investor confidence and regulatory compliance. This study recommends better regulations and governance mechanisms for financial reports in emerging nations like BRICS. Additionally, macro-prudential regulators and banking supervisors should work closely to ensure transparent TO decisions with improved discipline, institutional quality and regulatory support to enhance bank stability.

The study finds evidence of bank income smoothing in the BRICS and introduces TO as a determinant. It also identifies the evolving role of IFRS in the presence of higher institutional quality and TO, thereby expanding the financial reporting literature.

This paper aims to investigate simultaneously the causality and the dynamic links between exchange rates and stock market indices. It attempts to identify the short- and long-term effect of the US dollar on major stock market indices of Brazil, Russia, India, China and South-Africa (BRICS) nations.

This paper applies a new methodology combining the panel generalized method of moments model and the panel auto-regressive distributed lag (ARDL) method to investigate the existence of a causal short-/long-run relationships and dynamic dependence among all stock market returns and exchanges rates changes of BRICS countries.

Results show that exchange rate changes have a significant effect on the past and the current volatility of the BRICS stock indices. Besides, ARDL estimations reveal that exchange rate movements have a significant effect on short- and long-term stocks market indices of all BRICS countries

The findings have implications for policymakers and market participants who try to manage the exchange rate will have a different dose of intervention if they know that the effects of currency depreciation are different than appreciation. These results have important implications that investors should take into account in frequency-varying exchange rates and stock returns and regulators should consider developing sound policy measures to prevent financial risk.

International Journal of Emerging Markets (IJoEM) is a leading journal that publishes high-quality research focused on emerging markets. In 2020, IJoEM celebrated its fifteenth anniversary, and the objective of this paper is to conduct a retrospective analysis to commensurate IJoEM's milestone.

Data used in this study were extracted using the Scopus database. Bibliometric analysis, using several indicators, is adopted to reveal the major trends and themes of a journal. Mapping of bibliographic data is carried using VOSviewer.

Study findings indicate that IJoEM has been growing for publications and citations since its inception. Four significant research directions emerged, i.e. consumer behaviour, financial markets, financial institutions and corporate governance and strategic dimensions based on cluster analysis of IJoEM's publications. The identified future research directions are focused on emergent investments opportunities, trends in behavioural finance, emerging role technology-financial companies, changing trends in corporate governance and the rising importance of strategic management in emerging markets.

To the best of the authors' knowledge, this is the first study to conduct a comprehensive bibliometric analysis of IJoEM. The study presents the key themes and trends emerging from a leading journal considered a high-quality research journal for research on emerging markets by academicians, scholars and practitioners.

The purpose of this paper is to contribute to the literature on secondary equity offerings (SEOs) by examining the impact of the Black Economic Empowerment (BEE) policy on secondary equity offering (SEO) pricing dynamics of South African Real Estate Investment Trusts (REITs).

With a sample of 152 SEOs of South African REITs from 2010 to 2020, ordinary least squares (OLS) models, fixed effect models, parametric and non-parametric tests were applied to test for the impact of BEE on the underpricing of SEOs.

Significant underpricing is discovered in highly compliant (BEE) REITs; in other words, SEOs pricing of BEE compliant REITs are more underpriced compared to non-compliant BEE REITs. With this, BEE compliant REITs and more so, highly compliant BEE REITs in particular leave more money on the table.

The government is therefore aware of the impact policy interventions play when REITs raise financing through SEOS. With these, highly compliant BEE REITs will need to be more strategic when making BEE compliance decisions as this is shown in our study to impact the underpricing of SEOs.

This is the first study to investigate SEO underpricing for the BEE policy using the South African REITs context.

This paper investigates the impact of governance on economic growth, considering the spatial dependence between countries.

The study employs spatial regression models to estimate the impact of governance on economic growth in a sample of 116 countries worldwide in 2017.

The findings imply that the influence of governance on economic growth is statistically significant. Moreover, if all other economic control variables are constant, 1% increase in governance raises the economic growth on average by 1% at 10%, 5% and 1% significance levels, respectively. Furthermore, each country's rise in economic growth favorably and substantially influences the economic growth of its bordering nations. The unobserved characteristics or similar unobserved environments in adjacent countries also affect its economic growth.

This study adds to the discussion and investigation of the influence of governance on economic growth by considering the spatial dependence between countries, which is lacking in the literature.

This study explores the response of consumer confidence in policy uncertainty in the Japanese context. The study also considers the dynamism of stock market behavior and financial stress and its impact on consumer confidence, which has remained unaddressed in the literature. The role of these control variables has important implications for policy discussions, particularly when other countries can learn from Japanese experiences.

The nonlinear autoregressive distributed lag model postulated by Shin et al. (2014) was used for studying the asymmetric response of consumer confidence to policy uncertainty. This method has improved estimates compared to traditional linear cointegration methods.

The findings confirm the asymmetric impact of policy uncertainty on the consumer confidence index in Japan. The impact of the rise in policy uncertainty is greater than that of a fall in asymmetry on consumer confidence in Japan. Furthermore, the Wald test confirmed asymmetric behavior.

The contribution of this study is threefold. First, this study contributes to the extant literature by analyzing the asymmetric response of consumer confidence to policy uncertainty, controlling for both the financial stress and stock price indices. Second, to test the robustness of the exercise, the study utilized different frequencies of observations. Third, this study is the first to utilize the concept of Arbatli et al. (2017) to formulate a combined index of uncertainty based on economic policy uncertainty index, along with uncertainty indices such as fiscal, monetary, trade and exchange rate policies to study the overall impact of policy uncertainty.

This paper aims to investigate and examines Sweden's overall entrepreneurship performance (ecosystem) by applying the Global Entrepreneurship Index (GEI) while benchmarking the entrepreneurial ecosystem of Sweden with that of Finland and Norway.

In terms of subindices, pillars and component factors, this research analyzes the entrepreneurial ecosystem of Sweden using the GEI supplemented by the Penalty for Bottleneck (PFB) approach utile for identification of bottlenecks. In addition, the Swedish ecosystem is benchmarked against its Finnish and Norwegian counterparts drawing on data collected between 2015 and 2018.

Using data drawn from the GEI, Sweden manifests a strong entrepreneurial ecosystem with a GEI score of 72.7 out of 100. However, fledgling start-up skills, insufficient human capital, and slow and erratic growth undercut otherwise solid entrepreneurial aspirations drawing on well-developed institutional variables. On a macrolevel, Sweden evinces greater capacity for entrepreneurship and innovation than either Norway or Finland but, on a microlevel, several discontinuities manifest in terms of subindices, pillars and component factors to the advantage of Norway and/or Finland and, conversely, to the detriment of Sweden.

Policymakers should fund a mix of programs and institute regulatory reforms designed to promote entrepreneurial systemic development in Sweden by remediating entrepreneurial gaps depressing GEI scores. Crucial policy interventions are required to accrete start-up skills and human capital and engender high growth. Incremental funding of 47% over current levels budgeted to buoy entrepreneurial activity are mandated for Sweden to approach its GEI potential.

Insights are derived from extracting data drawn from a new methodology for gauging entrepreneurial activity incorporating individual and institutional variables into a single model that combines PFB and GEI analysis with a view to identifying, through the PFB approach and weak aspects of Sweden's entrepreneurial performance.

The purpose of this paper is to examine how first-tier suppliers in multi-tier supply chains adapt their vertical and horizontal relationships to reduce the risk of slavery-like practices.

Using Archer’s morphogenetic theory as an analytical lens, this paper presents case analyses adduced from primary and secondary data related to the development of relational anti-slavery supply capabilities in Brazilian–UK beef and timber supply chains.

Four distinct types of adaptation were found among first-tier suppliers: horizontal systemisation, vertical systemisation, horizontal transformation and vertical differentiation.

This study draws attention to the socially situated nature of corporate action, moving beyond the rationalistic discourse that underpins existing research studies of multi-tier, socially sustainable, supply chain management. Cross-sector comparison highlights sub-country and intra-sectoral differences in both institutional setting and the approaches and outcomes of individual corporate actors’ initiatives. Sustainable supply chain management theorists would do well to seek out those institutional entrepreneurs who actively reshape the institutional conditions within which they find themselves situated.

Practitioners may benefit from adopting a structured approach to the analysis of the necessary or contingent complementarities between their, primarily economic, objectives and the social sustainability goals of other, potential, organizational partners.

A range of interventions that may serve to reduce the risk of slavery-like practices in global commodity chains are presented.

This paper presents a novel analysis of qualitative empirical data and extends understanding of the agential role played by first-tier suppliers in global, multi-tier, commodity, supply chains.

The study aims to explore the validity of the modern renewable energy-environmental Kuznets curve (REKC) while considering the relevance of financial development in the consumption of modern renewable energy in East Africa Community (EAC). Modern renewable energy in this study includes all other forms of renewable energy except traditional use of biomass. The authors controlled for the effects of urbanization, governance, foreign direct investment (FDI) and trade openness.

Panel data of the five EAC countries of Burundi, Kenya, Rwanda, Tanzania and Uganda for the period 1996–2019 were used. The analysis relied on the use of the autoregressive distributed lag–pooled mean group (ARDL-PMG) model, and the data were sourced from the World Development Indicators (WDI), World Governance Indicators (WGI) and International Energy Agency (IEA).

The REKC hypothesis is supported for modern renewable energy consumption in the EAC region. Financial development positively and significantly affects modern renewable energy consumption, whereas urbanization, FDI and trade openness reduce modern renewable energy consumption. Governance is insignificant.

The concept of the REKC, although explored in other contexts such as aggregate renewable energy and in other regions, has not been used to explain the consumption of modern renewable energy in the EAC.

This paper aims to analyze the customer-based brand equity index (CBBE-I) of Tourism Brand Kurukshetra.

For the purpose of this study, the author uses primary and secondary data on destination attractiveness of Tourism Brand Kurukshetra for a sample of 150 tourists including domestic and international. The study used structural equation modeling and factor weighting methods.

The research presents an investigation into the destination attractiveness index of Tourism Brand Kurukshetra in an emerging market, i.e. Kurukshetra. Tourism Brand Kurukshetra from the brand equity perspective is an attractive destination.

It suggests that the CBBE index of Kurukshetra ought to analyze a longitudinal study to get the proper image of Kurukshetra from a touristic perspective. It provides long-term attractiveness to enhance tourism.

This is the first brand equity study contributed to branding literature of Tourism Brand Kurukshetra. The index is an accomplished way to present the tourism condition of any destination.