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Article
Publication date: 17 August 2018

Wen-Chyuan Chiang, Li Sun and Brian R. Walkup

The purpose of this paper is to examine the impact of business volatility on employee performance.

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Abstract

Purpose

The purpose of this paper is to examine the impact of business volatility on employee performance.

Design/methodology/approach

The authors use regression analysis to examine the authors’ research question.

Findings

The results suggest that business volatility has a significant and positive impact on employee performance. Furthermore, the authors find that the relationship between business volatility and employee performance is stronger for larger firms and firms with higher labor intensity.

Originality/value

The study links and contributes to two streams of literature: employee/labor cost management from the accounting literature and business volatility from the management literature. Whether business volatility affects employee performance remains an interesting question that has not been definitively answered empirically. To the best of the authors’ knowledge, this is the first empirical study that directly examines the relationship between business volatility and employee performance at the firm level.

Details

American Journal of Business, vol. 33 no. 3
Type: Research Article
ISSN: 1935-5181

Keywords

Article
Publication date: 6 February 2017

Kim Hiang Liow and Felix Schindler

Using a data set comprising 16 European office markets provided by the DTZ Research Institute from Q1 2003 to Q4 2013, the purpose of this paper is to measure the strength…

Abstract

Purpose

Using a data set comprising 16 European office markets provided by the DTZ Research Institute from Q1 2003 to Q4 2013, the purpose of this paper is to measure the strength of the unconditional transmission of volatility in the returns to direct property between 16 European office markets with the objective of determining the degree of unconditional spillover between markets.

Design/methodology/approach

To examine volatility spillovers across the 16 office markets, the authors adopted the generalized VAR methodology, variance decomposition and the generalized spillover index of Diebold and Yilmaz (2012) by measuring cross-office market volatility transmission in asset pricing through estimates of several “volatility spillover indices.”

Findings

Volatility spillovers are important and time-varying across the leading office markets, with cross-market volatility interaction being bi-directional and of relative endogenous nature for many markets. The London office market is the “volatility leader” and has exerted significant net volatility influence on the other markets. Additionally, the volatility spillovers between business cycle fluctuations and asset market cycle volatilities are linked across some European economies.

Research limitations/implications

Evidence of co-integration among the domestic volatility spillover cycles implies the presence of unobserved common shocks and might not be good news for international investors who pursue diversification strategies in European office real estate markets.

Originality/value

No previous study has addressed formally the measurement and assessment of the nature and intensity of volatility spillovers across direct office markets on such a broad range of European office markets. The relevance of the topic has been even increasing over the previous years as more and more investors seek for flexibility and participation in the investment process and asset management.

Details

Journal of Property Investment & Finance, vol. 35 no. 1
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 14 November 2016

Ibrahim Dolapo Raheem, Kazeem Bello Ajide and Oluwatosin Adeniyi

The purpose of this paper is to investigate the role of institutions in the financial development-output growth volatility nexus. It provides new channels through which…

Abstract

Purpose

The purpose of this paper is to investigate the role of institutions in the financial development-output growth volatility nexus. It provides new channels through which financial development can dampen the output growth volatilities of the countries under investigation.

Design/methodology/approach

A comprehensive data set for 71 countries covering the period from 1996 to 2012 and the System GMM approach were used. The choice of the methodology is to deal with endogeneity issues such as measurement errors, reverse causality among other issues.

Findings

A number of findings were emanated from the empirical analysis. First, the estimates provided evidence of the volatility-reducing effect of financial development. Second, institutions do not have the same reducing influence on output growth volatility. Third, the interaction of financial development and institutions showed that the output volatility reduction arising from financial development is enhanced in the presence of improved institutions.

Research limitations/implications

The policy implications derived from this study are in twofolds: first, it is important for policymakers to formulate policies that would ensure and enhance the development of the financial sectors, since its importance in minimizing output volatility has been established. Second, institutional quality should be developed so as to further enhance the growth volatility-reducing influence of financial development. Particularly, institutions should be improved along the multiple dimensions captured in the analysis.

Originality/value

To the best knowledge, the novelty of this study to the literature is the introduction of institutions, which is hypothesized to increase the dampening effects of financial development in output growth volatility.

Details

Journal of Economic Studies, vol. 43 no. 6
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 4 October 2021

Joseph Roh, Travis Tokar, Morgan Swink and Brent Williams

The lean and global character of supply networks today opens supply chains to potential disruptions, especially in volatile environments. Most disruptions are of…

Abstract

Purpose

The lean and global character of supply networks today opens supply chains to potential disruptions, especially in volatile environments. Most disruptions are of relatively low potential impact; however, firms also occasionally face high-impact disruptions that may even threaten survival. This study applies and extends absorptive capacity concepts to organize resilience capabilities identified in the literature and to examine whether capabilities that provide low-impact resilience are different from those that provide high-impact resilience. A second and related objective is to evaluate whether low-impact resilience supports high-impact resilience through “learning by experience.”

Design/methodology/approach

Survey and industry data are used to understand capabilities involved with achieving both low-impact resilience and high-impact resilience.

Findings

The results of our analysis of survey and industry data uncover significant complex interactions in the effects of capabilities and volatility on resilience; suggesting that different absorptive capacity capabilities are related to low-impact resilience and high-impact resilience, respectively, and these effects depend on industry context. Moderating influences of exploitation capability and environmental volatility are consistent with a “learning by experience” explanation of the association of low-impact resilience to high-impact resilience.

Originality/value

This study thus provides a unifying framework with which to consider resiliency capabilities. Further, it answers a question raised in prior research, and it extends our understanding of important relationships between capabilities for different levels of resilience.

Details

The International Journal of Logistics Management, vol. 33 no. 1
Type: Research Article
ISSN: 0957-4093

Keywords

Article
Publication date: 1 June 2010

Edna Stan‐Maduka

Against the backdrop of the fledgling entrepreneurship development and the imperatives of risk management to mitigate failure, this chapter discusses the impact of risk…

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Abstract

Against the backdrop of the fledgling entrepreneurship development and the imperatives of risk management to mitigate failure, this chapter discusses the impact of risk management practice on the development of African businesses. It also considers how best to align the practice of risk management in order to achieve business continuity. More than ever before, global competitiveness and the need to trade‐out of declining profits are currently driving businesses into risk management efficiencies in order to continue achieving increased returns on assets employed/equities for their shareholders. The attainment of these growth objectives can often be affected by several types of business risk (financial and operational) coupled with unpredicted movements in prices. These movements especially in times of high volatilities impact materially on profit growth potentials regardless of how well a business is managed. This chapter suggests how African business executives can evolve their business management styles to imbed risk management at all stages.

Details

World Journal of Entrepreneurship, Management and Sustainable Development, vol. 6 no. 3
Type: Research Article
ISSN: 2042-5961

Keywords

Article
Publication date: 9 November 2010

Dilip K. Das

The objective of this paper is to provide a macroeconomic assessment of the impact of global financial integration over the economies that are undergoing financial integration.

2171

Abstract

Purpose

The objective of this paper is to provide a macroeconomic assessment of the impact of global financial integration over the economies that are undergoing financial integration.

Design/methodology/approach

The paper focuses on several issues. It begins with examining the evidence whether financial globalization elevates growth performance of the integrating economy and supports it macroeconomic stability. It takes a nuanced view and divides the impact of financial integration into direct and indirect benefits. Second, it scrutinizes whether there are some threshold conditions, that is, in their presence and with their support, financial globalization underpins growth and stability of the capital importing economy and in their absence it cannot. Third, it delves into the oft‐cited allegation of financial globalization being a source of macroeconomic volatility and eventually financial crises. Fourth, as the evidence that emerged regarding ability of financial globalization to underpin growth was unambiguous. Policy mandarins' options are examined.

Findings

The paper finds that from a theoretical perspective, it is easy to state that integration of financial markets an potentially faster growth. Whether it happens in reality is a different matter.

Originality/value

The paper explores a new theme. While there are many relevant themes in financial globalization, the author has not seen any article on this theme and this paper may well be the first.

Details

Journal of Financial Economic Policy, vol. 2 no. 4
Type: Research Article
ISSN: 1757-6385

Keywords

Article
Publication date: 9 October 2017

Ayat Saleh and Richard Watson

The purpose of this paper is to examine how companies can achieve business excellence in a highly volatile, uncertain, complex and ambiguous (VUCA) environment. Within the…

3767

Abstract

Purpose

The purpose of this paper is to examine how companies can achieve business excellence in a highly volatile, uncertain, complex and ambiguous (VUCA) environment. Within the literature about business excellence, there is a lack of understanding of the impact of today’s high VUCA on achieving business excellence. A new business concept, business excellence in a volatile, uncertain, complex and ambiguous environment (BEVUCA), will be illustrated so as to bridge this gap by considering the overall VUCA influence and the influences of each specific term individually.

Design/methodology/approach

The research incorporated a systematic literature review for three knowledge areas, namely: VUCA, business excellence and the management integration of quality and risk. The later knowledge area was reviewed because such diverse management thinking can help to achieve BEVUCA.

Findings

The research provided a definition for a new business concept and the systematic literature review identified 18 critical success factors so as to manage and excel under a high VUCA business environment. Finally a conceptual framework was developed for integrating quality management and risk management thinking so as to achieve BEVUCA.

Originality/value

BEVUCA can be used to close the current gap in the body of literature by providing a link between VUCA and business excellence, and hence advancing the discussion in these areas. Additionally, the BEVUCA conceptual framework can be used as guidance in integrating quality management and risk management to achieve the identified critical success factors.

Details

The TQM Journal, vol. 29 no. 5
Type: Research Article
ISSN: 1754-2731

Keywords

Open Access
Article
Publication date: 19 November 2020

María Dolores Gadea and Isabel Sanz-Villarroya

The purpose of this study is to focus deeply on the short term to explain the relative long-term evolution of the Argentinian economy in the long and the short term.

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Abstract

Purpose

The purpose of this study is to focus deeply on the short term to explain the relative long-term evolution of the Argentinian economy in the long and the short term.

Design/methodology/approach

The study of the long-term evolution of the Argentine economy and identifying the moment in which it began to lose ground compared to other developed economies, such as Australia and Canada, constitutes the central axis of the historiography of this country. However, an additional problem presented by the Argentine economy is its high volatility. For this reason, the long term should be influenced by the short term, an issue that requires a more detailed study of the cyclical behavior and a deep analysis of the relationship between the long and the short term.

Findings

The results obtained point to a cyclical development that influences the long-term evolution and, therefore, explains Argentina’s convergence process with Australia and Canada. Frequent deep busts and short booms characterize the Argentine cycle, offsetting its long-term growth potential.

Originality/value

Although the long term has been profusely studied in Argentina, the short term has not been analyzed to the same extent, which is surprising given the extreme volatility of this economy (Prebisch, 1950). The studies performed on economic cycles have always been partial, disconnected from the long term and carried out without much technical rigor.

Details

Applied Economic Analysis, vol. 28 no. 84
Type: Research Article
ISSN:

Keywords

Article
Publication date: 3 August 2015

Glenn Richards and Chris van Staden

This paper aims to compare the readability of narrative annual report disclosure pre- and post-International Financial Reporting Standards (IFRS) adoption using a…

2176

Abstract

Purpose

This paper aims to compare the readability of narrative annual report disclosure pre- and post-International Financial Reporting Standards (IFRS) adoption using a computational linguistics programme to determine if annual report disclosures have become more difficult or easier to read following the adoption of IFRS.

Design/methodology/approach

This paper empirically measures narrative annual report disclosure readability pre- and post-IFRS adoption using a computational linguistics programme. In this analysis, the authors control for variables that have been identified as relevant to the understanding of financial disclosures, such as size, business volatility, financial leverage and industry.

Findings

Significant relationships have been identified between IFRS adoption and reduced readability indicators using readability formulas, and also using other factors such as increased length of annual report disclosures and increased use of tables. Findings suggest that the adoption of IFRS has added complexity and resulted in reduced readability of annual report disclosures.

Practical implications

Academic backing to claims of IFRS’s negative implications for financial statements and their ultimate users should encourage action on the part of standard setters and report preparers to address the negative impacts of IFRS adoption.

Originality/value

This paper is the first to provide evidence that New Zealand equivalents to IFRS adoption have resulted in not only longer disclosures but also more complicated disclosures.

Details

Pacific Accounting Review, vol. 27 no. 3
Type: Research Article
ISSN: 0114-0582

Keywords

Article
Publication date: 8 May 2017

Peter Tatham, Yong Wu, Gyöngyi Kovács and Tim Butcher

The purpose of this paper is to investigate the supply chain management (SCM) skills that support the sensing and seizing of opportunities in a changing business environment.

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Abstract

Purpose

The purpose of this paper is to investigate the supply chain management (SCM) skills that support the sensing and seizing of opportunities in a changing business environment.

Design/methodology/approach

Based on the previous literature on the T-shaped model of SCM skills, data were collected through a mail survey among Australian business executives. The resultant skill sets are grouped along factors that support the sensing vs seizing of opportunities.

Findings

Interestingly from an SCM perspective, functional logistics-related skills are important to maintain competitiveness but are not the ones contributing to a firm’s ability to sense opportunities and threats, and to seize opportunities in a changing business environment. The authors, therefore, support the notion that supply chain managers should be managers first. Factual SCM knowledge is the solid basis, but otherwise only an entry requirement in this field.

Research limitations/implications

Problem-solving skills, along with forecasting and customer/supplier relationship management, stand out as important components that support the ability of supply chain managers to sense and shape opportunities and threats in a turbulent business environment. This focus would tend to suggest the importance of supply chain integration and collaboration as management approaches. Other SCM skills from warehousing and inventory management to transportation and purchasing are more prevalent for maintaining competitiveness.

Practical implications

The results of the survey and the consequential analysis indicate that the content of tertiary-level educational programmes should be significantly reviewed to deliver two distinct (but partially overlapping) streams that focus on the generalist and functionalist managers who must work together in the management of the increasingly global and complex supply chains.

Social implications

Functional skills often form the basis of training and education programmes for supply chain managers. Whilst these form the solid foundation for their jobs, they are entry requirements at best. In a changing business environment, other skills are needed for success. Given that turbulence is becoming the norm rather than the exception, this finding necessitates rethinking in training and education programmes, as well as in the recruitment of supply chain managers.

Originality/value

Testing the T-shaped model of SCM skills from a dynamic capabilities perspective, the results of the factor analysis lead to a regrouping of skill sets in terms of sensing and seizing opportunities in a turbulent business environment.

Details

The International Journal of Logistics Management, vol. 28 no. 2
Type: Research Article
ISSN: 0957-4093

Keywords

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