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1 – 10 of 29Deevarshan Naidoo, Peter Brian Denton Moores-Pitt and Joseph Olorunfemi Akande
Understanding which market to invest in for a well-diversified portfolio is fundamental in economies that are highly vulnerable to fluctuations in exchange rates. Extant…
Abstract
Purpose
Understanding which market to invest in for a well-diversified portfolio is fundamental in economies that are highly vulnerable to fluctuations in exchange rates. Extant literature that has considered phenomenon hardly juxtapose the markets. The purpose of this study is to examine the effects of exchange rate volatility on the Stock and Real Estate market of South Africa. The essence is to determine whether the fluctuations in the exchange rate influence the markets prices differently.
Design/methodology/approach
The Generalised Autoregressive Conditional Heteroskedasticity [GARCH (1.1)] model was used in establishing the effect of exchange rate volatility on both markets. This study used monthly South African data between 2000 and 2020.
Findings
The results of this study showed that increased exchange rate volatility increases stock market volatility but decreases real-estate market volatility, both of which revealed weak influences from the exchange rates volatility.
Practical implications
This study has implication for policy in using the exchange rate as a policy tool to attract foreign portfolio investment. The weak volatility transmission from the exchange rate market to the stock and real estate market indicates that there is prospect for foreign investors to diversify their investments in these two markets.
Originality/value
This study investigated which of the assets market, stock or housing market do better in volatile exchange rate conditions in South Africa.
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This paper aims to investigate the moderating effect of sustainability reporting on the relationship between the independent variables of board diversity, and earnings management…
Abstract
Purpose
This paper aims to investigate the moderating effect of sustainability reporting on the relationship between the independent variables of board diversity, and earnings management and the dependent variable of readability of financial statements.
Design/methodology/approach
The study panel data regression analysis involved 36 Kenyan-listed companies from 2016 to 2020.
Findings
Key findings were that increased board diversity was found to significantly improve the readability of financial statements. Discretionary earnings management was found to significantly reduce the readability of financial statements. Sustainability reporting was found to significantly increase the readability of financial statements, and it moderated the relationship between board diversity, earnings management and financial statements readability in Kenya.
Research limitations/implications
The study sample of 36 non-financial listed in the Nairobi Securities Exchange was very small and was affected by the problem of thin trading; hence, caution should be adopted when interpreting the findings.
Practical implications
The Capital Markets Authorities (CMA) as a policymaker should enforce sustainability reporting by Kenyan listed firms as there is evidence that the reporting enhances the readability of financial statements. The Institute of Certified Public Accountants as a policymaker should closely monitor the published financial statements of firms for earnings management and punish the perpetrators, as there is empirical evidence that the practice reduces the readability of financial statements.
Social implications
Sustainability reporting is successful as a moderating variable between readability of financial statements and determinants of readability of financial statements.
Originality/value
This study contributes to knowledge by studying sustainability reporting as a moderating variable between the independent variables of board diversity and earnings management and the dependent variable of readability of financial statements and measured sustainability reporting using a dummy variable for the period before and after the enactment and release of CMA code of 2016 on corporate governance that required sustainability reporting by Kenyan listed companies.
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This study aims to investigate the impact of seaport efficiency on economic growth in Ghana over the period 2006–2020.
Abstract
Purpose
This study aims to investigate the impact of seaport efficiency on economic growth in Ghana over the period 2006–2020.
Design/methodology/approach
Comprehensive methodology, diverse data analysis techniques, including Augmented Dickey–Fuller tests, autoregressive distributed lag (ARDL) modeling and Granger Causality, were applied to explore the intricate relationship between Seaport Efficiency and Economic Growth.
Findings
The findings reveal a statistically significant and positive association between seaport efficiency and GDP, underscoring the crucial role of efficient seaport operations in actively stimulating economic growth. Beyond seaport efficiency, influential factors such as capital, human capital, knowledge spillover and productive capacities were identified, contributing to the dynamics of economic growth.
Research limitations/implications
The Granger Causality Test solidifies seaport efficiency as a robust predictor of GDP fluctuations, emphasizing its significance in economic forecasting. Notably, this study contributes to the existing body of knowledge with its nuanced exploration of the intricate relationship between seaport efficiency and economic growth in the specific context of Ghana.
Practical implications
This study’s implications extend beyond academia, offering invaluable guidance for policymakers and planners. It serves as a comprehensive roadmap for informed decision-making, emphasizing the pivotal role of efficient seaports in charting a trajectory for enduring and resilient economic progress in the nation.
Originality/value
While the broader theme has been explored in existing literature, the uniqueness of this study lies in its specific application to the Ghanaian context. The choice of Ghana, a nation where maritime transport handles over 90% of trade, underscores the significance of understanding seaport efficiency in this regional and economic setting. The study’s originality is reinforced by incorporating diverse economic variables, aligning with recommendations for a comprehensive analysis of factors influencing port performance.
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Xu Ting and Yubin Zhou
Existing research has examined the results of women’s political leadership participation (WPLP) and the reasons for the lack of advancement of women to management positions…
Abstract
Purpose
Existing research has examined the results of women’s political leadership participation (WPLP) and the reasons for the lack of advancement of women to management positions. However, little research has been adopting a more comprehensive framework and configuration perspective to investigate the determinants of WPLP. By integrating institutional theory and institutional complementarities theory, this study aims to construct an institution–culture–structure framework to investigate the multiple driving mechanisms of WPLP.
Design/methodology/approach
Drawing on the fuzzy set qualitative comparative analysis method and a sample of 66 countries, the authors identify multiple equifinal combinations of conditions related to high and not-high levels of WPLP.
Findings
According to the results, the authors summarize five pathways influencing WPLP. These pathways include education and culture-driven pattern, political institutions-driven pattern, political institutions and structure-driven pattern, integrated-driven pattern and political institutions and culture restrictive pattern.
Originality/value
The authors shed new light on the driving mechanism of WPLP and contribute to research on making full out of women’s leadership.
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The purpose of this research is to study the relationship between exchange rate fluctuations and stock market returns of the seven highest economic performing emerging countries…
Abstract
Purpose
The purpose of this research is to study the relationship between exchange rate fluctuations and stock market returns of the seven highest economic performing emerging countries (E7).
Design/methodology/approach
The study is conducted using the daily data for exchange rates and stock market returns in each of the E7 countries from January 1, 2019, to January 1, 2022. The study employs the ordinary least squares, autoregressive distributed lag error correction regression and generalized autoregressive conditional heteroskedasticity (GARCH (1,1)) regression models to fully investigate the impact of exchange rate on stock markets. For further investigation, the GARCH (1,1) model is run twice for each country with and without the inclusion of exchange rate to determine its effect on the volatility of stock returns.
Findings
The findings support the presence of cointegration relationship between the variables for all countries. The results reveal significant positive long-run relationship between exchange rates and stock market returns in all countries except for Indonesia, which evidenced a significant negative impact. The results of the GARCH (1,1) add that the inclusion of exchange rate in the model accounts for a slight change in the volatility of stock returns.
Originality/value
The research provides empirical evidence that appreciating currencies are perceived positively by investors leading to better performing capital markets. The outcomes of this study may assist policy makers in understanding to what degree changes in exchange rates can influence capital markets, as well as narrow the gap in literature regarding which theory is more relevant in explaining how exchange rate fluctuations impact market values.
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Md. Ariful Islam Rubel, Maruf Hasan Rumi and Md. Abujafar Ripon
This study aims to identify how the involvement of female university students in volunteer organisations is contributing to their self-empowerment in Bangladesh.
Abstract
Purpose
This study aims to identify how the involvement of female university students in volunteer organisations is contributing to their self-empowerment in Bangladesh.
Design/methodology/approach
A cross-sectional study with a qualitative approach was conducted. A total of 20 in-depth interviews with female student volunteers, two focus group discussions with student members of the volunteer organisation and ten key informant interviews with academics, gender experts and high-level representatives of civil society organisations were conducted. The data were collected from eight purposively selected universities in Dhaka. The data were collected between 1 January 2023 and 23 March 2023.
Findings
The inter-organisational environment appears to be supportive and welcoming, despite the fact that some male colleagues belittle women with insulting comments. Female students are predominantly involved in public presentation activities and their advice is rarely considered. To reach a top position, they have to show more commitment than their male colleagues. Subjective prejudices discourage women from taking on positions of responsibility. Participation in voluntary organisations strengthens the self-confidence, critical thinking, networking and social capital of female students, making it easier for them to gain employment. These factors contribute to the empowerment of female students.
Originality/value
This study is an excellent empirical document that establishes a link between the empowerment of female students and their participation in voluntary activities. The recommendations of this study pave the way for future research in different countries on how volunteering helps young people, especially female students, to shape their future by taking on social responsibility alongside their academic activities.
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This study aims to establish marketing practices which predict business performance of architecture firms within the Nigerian Construction Industry (NCI) to address the sustained…
Abstract
Purpose
This study aims to establish marketing practices which predict business performance of architecture firms within the Nigerian Construction Industry (NCI) to address the sustained poor business performance of firms, which affects allied professionals as many projects in the built environment depend on design proposals from architects.
Design/methodology/approach
Survey responses from 86 firms were used to model business performance measured as total revenue of the firms from 40 commonly deployed marketing practices in construction.
Findings
Two-thirds of the marketing practices most used by architectural firms were ineffective in predicting business performance. The model also explains up to half the variance in business performance (37.4–49.9%), supporting the view that marketing in the CI affects business performance. Researching client needs and competitors emerged as the only significant positive predictor of business performance (β = 0.827, p = 0.043). Using social media (β = −1.247, p = 0.004), regular participation in awards/competitions (β = −1.420, p = 0.013) and inclusion of political offers in bids (β = −1.050, p = 0.016) negatively predicted business performance.
Practical implications
Architecture and allied professional bodies in Nigeria need to rethink existing restrictions regarding marketing based on traditional code of ethics in light of present-day realities of digital and internet business environments. Principals and management of architecture firms require a paradigm shift in deploying the appropriate marketing practices, especially as it relates to research regarding changing client expectations and current competition within the NCI.
Originality/value
The study established marketing practices which model business performance and demonstrate their value in a framework for improving the financial sustainability of architecture firms within the NCI.
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Hajam Abid Bashir, Manish Bansal and Dilip Kumar
This study aims to examine the value relevance of earnings in terms of predicting the value variables such as cash flow, capital investment (CI), dividend and stock return under…
Abstract
Purpose
This study aims to examine the value relevance of earnings in terms of predicting the value variables such as cash flow, capital investment (CI), dividend and stock return under the Indian institutional settings.
Design/methodology/approach
The study used panel Granger causality tests to examine causality relationships among variables and panel data regression models to check the statistical associations between earnings and value variables.
Findings
Based on a data set of 7,280 Bombay Stock Exchange-listed firm-years spanning over ten years from March 2009 to March 2018, the results show higher sensitivity of earnings toward cash flows, CI, divided and stock return and vice-versa. Further, the findings deduced from the empirical results demonstrate that earnings are positively related to value variables. Overall, the results established that earnings are value-relevant and have predictive ability to forecast the value variables that facilitate investors in portfolio valuation. The results are consistent with the predictive view of the value relevance of earnings. Several robustness checks confirm these results.
Originality/value
This study brings new empirical evidence from a distinct capital market, India, and provides a new facet to the value relevance debate in terms of its prediction view. The study is among earlier attempts that jointly measure the ability of earnings in forecasting different value variables by taking a uniform sample of firms at the same period. Hence, the study provides a comprehensive view of the predictive ability of reported earnings.
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Barrie Green and Jake Stanworth
This paper aims to critically compare the impact and preparedness for practice of two types of mental health nurse training in the UK. One being a hospital-based apprenticeship…
Abstract
Purpose
This paper aims to critically compare the impact and preparedness for practice of two types of mental health nurse training in the UK. One being a hospital-based apprenticeship model from the 1980s; the other a university-based and more academically focussed approach from this millennium.
Design/methodology/approach
This autoethnographic reflective commentary describes and reviews the effectiveness of two training curricula for Registered Mental Nurse (RMN) training. The first being the certificate-level 1983 syllabus of the UK Central Council for Nursing, Midwifery and Health Visiting, which was replaced in the late 1990s by diploma and degree-level Project 2000 training of the General Nursing Council. Using a reflective narrative approach to describe the lived experience of two qualified nurses, it compares, reviews and critiques both initiatives.
Findings
The author/researchers found both benefits and negatives inherent in each model. These were grouped into five key headings, which are a sense of belonging/identity; exposure to clinical practice; differences in training modality; development of clinical management skills and clinical preparedness; and academic merit. The older curriculum lacked an academic or research base, whereas the more recent approach encouraged and enhanced this element. However, with regard to preparing the clinician/registered nurse to feel confident in addressing a range of clinical and managerial challenges, the older style training seems to deliver better outcomes. They conclude that a move towards a “middle ground” between the two models may be of benefit to future RMN preparation.
Research limitations/implications
This study reports on the experience of two registered nurses. Therefore, the sample size is small. However, autoethnography is acknowledged as an effective means of delivering qualitative research; in addition, the authors access and use material from the wider literature to triangulate and critique their approach. This paper adds to the literature but also allows for duplication by others to further test the findings.
Practical implications
This type of study provides an opportunity for others to review, compare and contrast nursing or other multi-discipline changes in training/curriculum. The research method is one that is transferable and can be used within areas of practice, which have resource limitations. It provides an opportunity to replicate it in other services or jurisdictions.
Social implications
Nursing in the UK has experienced significant change over the past four decades. For RMNs, the move from hospitals into the community has been transformational. In addition, the influence of higher academic standards and the influence of the recent pandemic have challenged the profession and individuals within it. This study demonstrates positive and negative elements of the dilemma faced by nurses and offers a further contribution to this area.
Originality/value
There are a number of academic papers, media stories, statutory reports and guidance that explore the impact of changes within nurse training. This paper uses a first person autoethnographic study of the impact and effectiveness of these changes at a human level, the nurse on the ground. It uses the ward medicine keys as the vehicle to represent the huge responsibility that newly qualified nurses must face; this is not widely represented elsewhere in the literature!
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