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Article
Publication date: 9 April 2024

Hasan Tutar, Hakan Eryüzlü, Ahmet Tuncay Erdem and Teymur Sarkhanov

This study investigates the correlation between economic development and scientific knowledge production indicators in the BRICS countries from 2000 to 2020, highlighting the…

Abstract

Purpose

This study investigates the correlation between economic development and scientific knowledge production indicators in the BRICS countries from 2000 to 2020, highlighting the importance of human resources, natural resources, and innovation. Addressing a gap in the existing literature, this study aims to contribute significantly to understanding this relationship.

Design/methodology/approach

Employing a descriptive statistical approach, this study utilizes GDP and per capita income as economic indicators and scientific data from WoS and SCOPUS databases, focusing on scientific document production and citations per document.

Findings

The analysis reveals a strong correlation between economic development and scientific performance within the BRICS nations during the specified period. It emphasizes the interdependence of economic progress and scientific prowess, underscoring that they cannot be considered independently.

Research limitations/implications

However, limitations exist, notably the reliance on specific databases that might not cover the entire scientific output and the inability to capture all factors influencing economic and scientific development.

Originality/value

Understanding this interdependence has crucial originality. Policymakers and stakeholders in BRICS countries can leverage these insights to prioritize investments in human capital development and scientific research. This approach can foster sustainable economic growth by reducing reliance on natural resources.

Details

Journal of Economic Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 25 March 2024

Suzan Dsouza, Narinder Pal Singh and Johnson Ayobami Oliyide

This study analyses the impact of the Covid-19 on stock market performance of BRICS nations together. BRICS countries comprise almost 30% of the global GDP and around 50% of the…

Abstract

Purpose

This study analyses the impact of the Covid-19 on stock market performance of BRICS nations together. BRICS countries comprise almost 30% of the global GDP and around 50% of the world’s economic growth. As BRICS nations have gained the attraction as financial investment destinations, their financial markets have apparently been as potential opportunities for foreign portfolio investors. While there is extensive research on the impact of the Covid-19 pandemic on individual economies and global financial markets, this paper is among the first to systematically investigate the dynamic connectedness of these emerging economies during the pandemic using the Time-Varying Parameter Vector Autoregressions (TVP-VAR) approach.

Design/methodology/approach

We categorise our data into two distinct periods: the pre-Covid period spanning from January 1, 2018, to March 10, 2020, and the Covid crisis period extending from March 11, 2020, to June 4, 2021. To achieve our research objectives, we employ the Time-Varying Parameter Vector Autoregressions (TVP-VAR) approach to assess dynamic connectedness.

Findings

Our findings reveal that among the BRICS nations, Brazil and South Africa serve as net transmitters of shocks, while China and India act as net receivers of shocks during the Covid crisis. However, the total connectedness index (TCI) has exhibited a notable increase throughout this crisis period. This paper makes several notable contributions to the academic literature by offering a unique focus on BRICS economies during the Covid-19 pandemic, providing practical insights for stakeholders, emphasising the importance of risk management and investment strategy, exploring diversification implications and introducing advanced methodology for analysing interconnected financial markets.

Research limitations/implications

The results have important implications for the investors, the hedge funds, portfolio managers and the policymakers in BRICS stock markets. The investors, investment houses, portfolio managers and policymakers can develop investment strategies and policies in the light of the findings of this study to cope up the future pandemic crisis.

Originality/value

This study is one of its kind that examines the dynamic connectedness of BRICS with recently developed TVP-VAR approach across pandemic crisis.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Open Access
Article
Publication date: 16 April 2024

Isabella Melissa Gebert and Felipa de Mello-Sampayo

This study aims to assess the efficiency of Brazil, Russia, India, China, South Africa (BRICS) countries in achieving sustainable development by analyzing their ability to convert…

Abstract

Purpose

This study aims to assess the efficiency of Brazil, Russia, India, China, South Africa (BRICS) countries in achieving sustainable development by analyzing their ability to convert resources and technological innovations into sustainable outcomes.

Design/methodology/approach

Using data envelopment analysis (DEA), the study evaluates the economic, environmental and social efficiency of BRICS countries over the period 2010–2018. It ranks these countries based on their sustainable development performance and compares them to the period 2000–2007.

Findings

The study reveals varied efficiency levels among BRICS countries. Russia and South Africa lead in certain sustainable development aspects. South Africa excels in environmental sustainability, whereas Brazil is efficient in resource utilization for sustainable growth. China and India, despite economic growth, face challenges such as pollution and lower quality of life.

Research limitations/implications

The study’s findings are constrained by the DEA methodology and the selection of variables. It highlights the need for more nuanced research incorporating recent global events such as the COVID-19 pandemic and geopolitical shifts.

Practical implications

Insights from this study can inform targeted and effective sustainability strategies in BRICS nations, focusing on areas such as industrial quality improvement, employment conditions and environmental policies.

Social implications

The study underscores the importance of balancing economic growth with social and environmental considerations, highlighting the need for policies addressing inequality, poverty and environmental degradation.

Originality/value

This research provides a unique comparative analysis of BRICS countries’ sustainable development efficiency, challenging conventional perceptions and offering a new perspective on their progress.

Details

International Journal of Development Issues, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1446-8956

Keywords

Article
Publication date: 1 November 2023

Sabri Burak Arzova and Bertaç Şakir Şahin

The purposes of this study are to contribute to the limited green growth (GG) literature in emerging markets, to analyze GG from a financial economy perspective and to determine…

Abstract

Purpose

The purposes of this study are to contribute to the limited green growth (GG) literature in emerging markets, to analyze GG from a financial economy perspective and to determine the contribution of financial development and innovation to GG in Brazil, Russian Federation, India, China and South Africa and Türkiye (BRICS-T). BRICS-T countries significantly impact the world population, international politics, energy resources and economy. In addition, BRICS-T countries are one of the leading countries in the world with their sustainability efforts. Investigating the GG model in these countries may contribute to structuring emerging economies around the principles of GG and advancing global green transformation efforts.

Design/methodology/approach

The authors applied panel data analysis from 2001 to 2019. GG is economic growth free from environmental depletion in the model. National income, personnel expenditure and foreign direct investments are macroeconomic variables. These variables measure economic development and promote economic and social progress, which is essential for GG. Capital accumulation and innovation are essential tools in GG transformation. Therefore, financial development and patent applications represent the moderating variables. The authors estimate the fixed effect model with Parks-Kmenta robust.

Findings

Empirical results show that national income growth and foreign direct investments positively affect GG. Personnel expenditure negatively affects GG. On the contrary, financial development and patent growth have little moderating role.

Originality/value

This study contributes to the literature on creating a GG model in emerging countries. The study is original in its model and sample.

Details

Management of Environmental Quality: An International Journal, vol. 35 no. 3
Type: Research Article
ISSN: 1477-7835

Keywords

Article
Publication date: 12 July 2023

Mohit Kumar

To estimate the volatility of exchange and stock markets and examine its spillover within and across the member countries of BRICS during COVID-19 and the conflict between Russia…

Abstract

Purpose

To estimate the volatility of exchange and stock markets and examine its spillover within and across the member countries of BRICS during COVID-19 and the conflict between Russia and Ukraine.

Design/methodology/approach

The study utilizes the “dynamic conditional correlation-generalized autoregressive conditional heteroskedasticity (DCC-GARCH)” approach of Gabauer (2020). The volatility of the markets is calculated following the approach of Parkinson (1980). The sample dataset comprises the daily volatility of the stock and exchange markets for 35 months, from November 2019 to September 2022.

Findings

The study confirms the existence of contagion effects among member countries. Volatility spillover between exchange and stock markets is low within the country but substantial across borders. Russian contribution increased significantly during the conflict with Ukraine, and other countries also witnessed a surge in the spillover index during the pandemic and war.

Research limitations/implications

It adds to the body of literature by emphasizing the necessity of comprehending the economies' behavior and interdependence. Offers insightful information to decision-makers who must be more watchful regarding the financial crisis and its regional spillover.

Originality/value

The study is the first to explore the contagion of volatility among the BRICS countries during the two biggest crisis periods of the decade.

Details

Journal of Economic Studies, vol. 51 no. 3
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 4 April 2024

Jyoti Dua and Anil Kumar Sharma

The mounting focus on environmental, social and governance (ESG) factors in business has sparked substantial curiosity in understanding the nexus between ESG and the companies’…

Abstract

Purpose

The mounting focus on environmental, social and governance (ESG) factors in business has sparked substantial curiosity in understanding the nexus between ESG and the companies’ strategic decisions. This study aims to investigate the influence of firms’ ESG disclosure scores on their dividend payout. Furthermore, it examines the nuanced dynamics of this relationship by exploring the moderating role of the country’s investor protection regulations and regulatory enforcement.

Design/methodology/approach

This study uses pooled ordinary least square regression with year, industry and country effects. It analyzes a balanced panel data set of 192 non-financial firms drawn from the primary equity indices of BRICS nations. This study examined the data of six years spanning 2015–2020.

Findings

The findings discover a significantly positive relationship between ESG scores and dividend payout ratio, conveying that firms with higher ESG scores allocate more of their profits as dividends. Furthermore, the finding reveals that country-level robust investor protection and effective regulatory enforcement mechanisms undermine the positive association between ESG ratings and payouts of dividends, suggesting that the ESG disclosure of firms operating in a setting characterized by enhanced investor safeguards and stricter regulatory oversight will exert less influence on their dividend decisions.

Originality/value

To the best of the authors’ knowledge, this is the first study to concentrate on the ESG–dividend nexus in the BRICS countries. Furthermore, this study used each country’s investor protection index and regulatory enforcement scores to comprehend the influence of country-level legal frameworks in shaping the relationship between ESG and dividend decisions, thus adding value to the existing literature on corporate sustainability.

Details

Journal of Indian Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1755-4195

Keywords

Article
Publication date: 2 April 2024

Komal Sharma and Sarita Sood

Despite a variety of theoretical and empirical studies on work engagement (WE), few have explored the role of individual-level factors. Underpinned by person-environment fit (PEF…

Abstract

Purpose

Despite a variety of theoretical and empirical studies on work engagement (WE), few have explored the role of individual-level factors. Underpinned by person-environment fit (PEF) and self-determination theory (SDT), the present study aims to pinpoint the fundamental process driving the relationship between WE and perceived fit (PF).

Design/methodology/approach

Using the survey method, data were collected from 263 college teachers. Confirmatory factor analysis (CFA) and structural equation modeling were applied to test the serial mediation paradigm.

Findings

The results of the study accentuate crafting as an important mediator between PF and WE. The current study does not support the mediating role of authentic living between PF and WE. Both authentic living and job crafting (JC) mediate the PF and WE relationship. Employees’ sense of congruence promotes living authentically and JC, resulting in WE.

Practical implications

The WE of employees is harnessed if they get an opportunity to practice authenticity. Authentic employees feel compelled to bring change to the job so that it is in alignment with their core values, thus resulting in WE. The organizations that create a culture in which the administrators allow the practice of individual-factors, namely authentic living, and JC successfully fosters WE.

Originality/value

The variables presented in the serial mediation model explain the underlying mechanisms between PF and WE. This is among the very few studies that explore the individual-level factors that boost individual levels of WE among teachers. Therefore, it adds to the literature on WE.

Details

Evidence-based HRM: a Global Forum for Empirical Scholarship, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2049-3983

Keywords

Open Access
Article
Publication date: 25 August 2022

Ashish Kumar, Shikha Sharma, Ritu Vashistha, Vikas Srivastava, Mosab I. Tabash, Ziaul Haque Munim and Andrea Paltrinieri

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…

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Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Originality/value

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.

Details

International Journal of Emerging Markets, vol. 19 no. 4
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 19 April 2024

Nadia Hanif

Drawing on organizational design theory and organizational learning theory, this paper aims to examine component technology (CT) and the interaction between CT and experiential…

Abstract

Purpose

Drawing on organizational design theory and organizational learning theory, this paper aims to examine component technology (CT) and the interaction between CT and experiential learning (EL) effects on the degree of integration (DI) of cross-border technological acquisitions.

Design/methodology/approach

Using a sample of 267 firms consisting of 229 acquirer firms who started cross-border technological acquisitions from developed economies and 38 acquirer firms who initiated cross-border technological acquisitions from emerging economies over the period of 1993–2016, this study adopts a value chain framework to measure the acquirers’ acquisition integration degree for the investigation of the effects of CT and the interaction between CT and EL.

Findings

First, this paper finds CT in cross-border technological acquisitions exerting a positive influence on the acquirer firm’s likelihood of the DI implementation, in line with the organizational design theory. Second, in view of organizational learning theory, this study finds EL and the combined effect of CT and EL to have an inverse influence on the DI.

Practical implications

The results imply that the moderating role of EL significantly optimizes decision choices for an acquirer firm for integration implementation strategies in the form of DI, such as full integration (structural integration), partial integration and no integration (structural separation), which appears to be crucial for cross-border technological acquisitions.

Originality/value

This study contributed to international business strategies by shedding light on the importance of the DI for an acquirer firm that undertakes a cross-border technological acquisition with a CT target firm. This study explains why structural integration might be necessary in cross-border technological acquisitions regardless of the costs of disruption it imposes, as well as the contexts in which it becomes less important or unnecessary. The study disclosed that the increase in the likelihood of DI because of CT depends on the EL of the acquisition company in the host country environment and fluctuates with the prior acquisition knowledge and EL of the host country. Combining two cross-border technological acquisition’s literature streams, such as CT and EL, this study enlightens the importance of organizational learning theory and theory of organization design strategic direction making on acquisition integration implementation strategies.

Details

Review of International Business and Strategy, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2059-6014

Keywords

Article
Publication date: 17 April 2024

Prince Kumar Maurya, Rohit Bansal and Anand Kumar Mishra

This paper aims to investigate the dynamic volatility connectedness among 13 G20 countries by using the volatility indices.

Abstract

Purpose

This paper aims to investigate the dynamic volatility connectedness among 13 G20 countries by using the volatility indices.

Design/methodology/approach

The connectedness approach based on the time-varying parameter vector autoregression model has been used to investigate the linkage. The period of study is from 1 January 2014 to 20 April 2023.

Findings

This analysis revealed that volatility connectedness among the countries during COVID-19 and Russia–Ukraine conflict had increased significantly. Furthermore, analysis has indicated that investors had not anticipated the World Health Organization announcement of COVID-19 as a global pandemic. Contrarily, investors had anticipated the Russian invasion of Ukraine, evident in a significant rise in volatility before and after the invasion. In addition, the transmission of volatility is from developed to developing countries. Developed countries are NET volatility transmitters, whereas developing countries are NET volatility receivers. Finally, the ordinary least square regression result suggests that the volatility connectedness index is informative of stock market dynamics.

Originality/value

The connectedness approach has been widely used to estimate the dynamic connectedness among market indices, cryptocurrencies, sectoral indices, enegy commodities and metals. To the best of the authors’ knowledge, none of the previous studies have directly used the volatility indices to measure the volatility connectedness. Hence, this study is the first of its kind that has used volatility indices to measure the volatility connectedness among the countries.

Details

Studies in Economics and Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1086-7376

Keywords

1 – 10 of 93