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1 – 10 of 23Pedro Torres, Pedro Silva and Mário Augusto
The effects of ownership concentration on firm performance usually considers two conflicting perspectives: monitoring and expropriation hypotheses. Past studies have produced mix…
Abstract
Purpose
The effects of ownership concentration on firm performance usually considers two conflicting perspectives: monitoring and expropriation hypotheses. Past studies have produced mix findings. This study aims to shed light on this relationship by focusing on a specific measure of firm performance, firm growth. The moderating effect of industry growth in the aforementioned relationship is also considered, which advances knowledge on the role of moderators.
Design/methodology/approach
This study resorts to data from a sample of 21,476 Portuguese firms, which is examined using hierarchical linear modelling. This approach is adequate because the data has a hierarchical structure: the firms are nested within industries.
Findings
The results show that equity ownership concentration has a positive effect on firms’ growth and that industry growth amplifies this relationship. Ownership concentration can spur effective monitoring, thereby alleviating principal–agent conflicts of interest and speeding up decision-making, enabling timely competitive actions that promote growth.
Research limitations/implications
The research conceives ownership structure in two groups. However, equity ownership concentration often acquires more complex shapes. In addition, the data used is from a single country.
Practical implications
The results show that firms pursuing growing strategies and operating in growing industries benefit from equity concentration.
Originality/value
Different from past studies, this study focuses on firm growth performance and considers the moderating effect of industry growth.
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This study investigates the behaviour of family firms, family management and family ownership regarding their socioemotional wealth (Corporate Social Responsibility (CSR)) during…
Abstract
Purpose
This study investigates the behaviour of family firms, family management and family ownership regarding their socioemotional wealth (Corporate Social Responsibility (CSR)) during the COVID-19 pandemic and according to their slack resources availability.
Design/methodology/approach
This study employs a multiple regression analysis to analyse 245 firm-year observations from 2020 to 2021.
Findings
Family firms have a negative effect on CSR, as do family management and family ownership. Slack resources (both absorbed and unabsorbed) reduce the negative effect of family firms (and family ownership) on CSR. Unabsorbed slack resources reduce the negative effect of family management on CSR and absorbed slack resources increase the negative effect of family management on CSR. The results are robust with various measurements of slack resources. Extra analyses reveal that family commissioner has no effect on CSR.
Originality/value
To the best of the author’s knowledge, this is the first empirical study to analyse the impact of COVID-19 on the preservation of socioemotional wealth in family firms. This study proves the theoretical argument of prior studies that the preservation of socioemotional wealth in family firms during the COVID-19 pandemic depends on their financial condition. The study also proves that there are different attitudes among family ownership, family management and family firms concerning the use of slack resources for socioemotional wealth preservation that have not been analysed by previous research.
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Heeseung Yu, Yuhosua Ryoo and Eunkyoung Han
In the face of increasing political polarization worldwide, this study explores whether people create biased perceptions of political knowledge and how this affects their…
Abstract
Purpose
In the face of increasing political polarization worldwide, this study explores whether people create biased perceptions of political knowledge and how this affects their selection and evaluation of political content on YouTube.
Design/methodology/approach
For this study, an online experiment was conducted with 441 panels of South Korean respondents. In the first phase, participants answered 10 questions designed to capture their level of objective political knowledge, and for each question, they indicated whether they had responded to that question correctly as a means of measuring their subjective political knowledge. In the second phase, two types of YouTube thumbnails were presented to represent progressive and conservative claims on two controversial political issues, and participants rated and selected the content they would like to see.
Findings
Participants with low political knowledge perceived their knowledge as more than it really was. In contrast, participants with high political knowledge perceived their political knowledge as less than it really was. This biased perception of political knowledge influences respondents' choice and evaluation of political YouTube channel videos.
Originality/value
At a time when political polarization is increasing around the world, this study sought to explore how perceptions of political knowledge differ from actual political knowledge by applying the Dunning-Kruger effect. The authors also used political YouTube channels, whose role in forming public opinion and political influence is rapidly growing, to study the behavior and attitudes of a group of Korean respondents in the media according to their actual and perceived level of political literacy.
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Prabhakar Nandru, Madhavaiah Chendragiri and Velayutham Arulmurugan
This paper aims to measure the extent of digital financial inclusion (DFI) and examine the effect of socioeconomic characteristics on using government remittances and the adoption…
Abstract
Purpose
This paper aims to measure the extent of digital financial inclusion (DFI) and examine the effect of socioeconomic characteristics on using government remittances and the adoption of digital financial services (DFS) during the COVID-19 pandemic.
Design/methodology/approach
The World Bank Global Financial Inclusion (Global Findex) database 2021 is used in this study, with a sample size of 3,000 Indian individuals. The study measured the demand-side analysis of DFI, namely, accessibility and usage of DFS with selected socioeconomic characteristics such as gender, age, income, education, being in the workforce and residential status of respondents. The dependent variable is binary in nature; therefore, the logistic regression model is used for the data analysis.
Findings
The results of the study reveal that individuals’ socioeconomic factors, such as female, all the age groups, tertiary education, third- and fourth-income quintile and workforce, are found to have a significant association with “accessibility,” an exogenous variable of DFS. Besides, respondents’ socioeconomic attributes, namely, female, tertiary education, income for all quintiles and workforce, are more likely to use DFSs in the COVID-19 pandemic. The study also finds the residential status of individuals is influencing the accessibility and usage of DFS.
Practical implications
The findings of the study provide valuable insights to the service providers and policymakers regarding the rapid expansion of DFS by digital infrastructure, simplifying the banking procedures and highlighting the importance of digital financial literacy to accomplish government goals through serving the unbanked population and also design strategies for achieving the objectives of Digital India: “Faceless, Paperless, and Cashless” of DFI across the country.
Originality/value
Notable studies used World Bank Findex survey data to explore the determinants of financial inclusion in general. This research is one among the few studies to explore the determinants of India’s DFI. Moreover, this study measured the effect of individual socioeconomic attributes on the adoption of DFSs during the COVID-19 pandemic, which has not been included in prior studies. Therefore, this study has added value to the existing literature on financial technology innovation and DFS for the sustainable development of emerging nations.
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Blain Pearson and Thomas Korankye
This study examines the association between financial literacy confidence and financial satisfaction. The authors posit that overconfident poor performers will experience greater…
Abstract
Purpose
This study examines the association between financial literacy confidence and financial satisfaction. The authors posit that overconfident poor performers will experience greater levels of financial satisfaction and underconfident high performers will experience lower levels of financial satisfaction.
Design/methodology/approach
Based on the results of an objective financial literacy assessment and a subjective financial literacy assessment, variables measuring study participants' financial literacy overconfidence and financial literacy underconfidence are constructed. The variables are analyzed for their associations with financial satisfaction.
Findings
The results from the multivariate analysis suggest that financial literacy overconfidence (underconfidence) is associated positively (negatively) with higher levels of financial satisfaction and is associated negatively (positively) with lower levels of financial satisfaction.
Practical implications
The discussion first highlights that to increase objective financial literacy, the disconnect between subjective financial literacy assessment and objective financial literacy must be recognized. Secondly, the discussion encourages financial literacy and education programs to incorporate behavioral education, which can provide learners with an awareness of the role of financial literacy confidence when making financial decisions.
Originality/value
Financial literacy overconfidence can result in an inability to recognize the realities of one's financial situation. Individuals who are overconfident in their level of financial literacy preformed lower on an objective assessment of their financial literacy, yet also tended to have a greater sense of financial satisfaction. This finding not only suggests that financial literacy overconfidence results in financial ineptitude, but also suggest that financial literacy overconfidence can result in specious conclusions regarding one's financial situation. The financial literacy underconfidence finding suggests that those who are financial literate, and who are also underconfident in their financial literacy, are less likely to have high financial satisfaction.
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S.N. Basavana Gowda, Subhash Yaragal, C. Rajasekaran and Sharan Kumar Goudar
In recent years, fire accidents in engineering structures have often been reported worldwide, leading to a severe risk to life and property safety. The present study is carried…
Abstract
Purpose
In recent years, fire accidents in engineering structures have often been reported worldwide, leading to a severe risk to life and property safety. The present study is carried out to evaluate the performance of Ground Granulated Blast Furnace Slag (GGBS) and fly ash–blended laterized mortars at elevated temperatures.
Design/methodology/approach
This test program includes the replacement of natural river sand with lateritic fine aggregates (lateritic FA) in terms of 0, 50 and 100%. Also, the ordinary Portland cement (OPC) was replaced with fly ash and GGBS in terms of 10, 20, 30% and 20, 40 and 60%, respectively, for producing blended mortars.
Findings
This paper presents results related to the determination of residual compressive strengths of lateritic fine aggregates-based cement mortars with part replacement of cement by fly ash and GGBS exposed to elevated temperatures. The effect of elevated temperatures on the physical and mechanical properties was evaluated with the help of microstructure studies and the quantification of hydration products.
Originality/value
A sustainable cement mortar was produced by replacing natural river sand with lateritic fine aggregates. The thermal strength deterioration features were assessed by exposing the control specimens and lateritic fine aggregates-based cement mortars to elevated temperatures. Changes in the mechanical properties were evaluated through a quantitative microstructure study using scanning electron microscopy (SEM) images. The phase change of hydration products after exposure to elevated temperatures was qualitatively analyzed by greyscale thresholding of SEM images using Image J software.
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Mohammad Reza Adlparvar, Morteza Esmaeili and Mohammad Hossein Taghavi Parsa
This paper aims to study the influence of the presence of steel and polyolefin (PO) fibers on the mechanical and durability properties of fiber and hybrid fiber-reinforced…
Abstract
Purpose
This paper aims to study the influence of the presence of steel and polyolefin (PO) fibers on the mechanical and durability properties of fiber and hybrid fiber-reinforced concrete (FRC and HFRC).
Design/methodology/approach
Hooked-end steel fibers having a length of 35 mm were applied at four different fiber content 1.0%, 1.5%, 2.0% and 2.5%, respectively. PO fibers having the length of 45 mm were also replaced with steel fibers at three different fiber content, 0.6%, 0.8% and 1.0%, to provide HFRC. The compressive, indirect tensile and flexural strengths; electrical resistivity; and water absorption were evaluated in this study.
Findings
The results showed that the addition of both steel and PO fibers led to improvements in the mechanical properties of FRC and HFRC. However, the replacement of steel fibers with PO fibers led to a slight loss in mechanical properties. Also, it was concluded that the addition of various types of fibers to concrete decreased both the electrical resistivity and water absorption compared with the control sample. Finally, distance-based approach analysis was used to select the most optimal mix designs.
Originality/value
According to this method, the HFRC specimen including 1.2% of steel and 0.8% of PO fibers was the most optimal mix design among all fiber-reinforced mix designs.
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Thomas Danel, Zoubeir Lafhaj, Anand Puppala, Samer BuHamdan, Sophie Lienard and Philippe Richard
The crane plays an essential role in modern construction sites as it supports numerous operations and activities on-site. Additionally, the crane produces a big amount of data…
Abstract
Purpose
The crane plays an essential role in modern construction sites as it supports numerous operations and activities on-site. Additionally, the crane produces a big amount of data that, if analyzed, could significantly affect productivity, progress monitoring and decision-making in construction projects. This paper aims to show the usability of crane data in tracking the progress of activities on-site.
Design/methodology/approach
This paper presents a pattern-based recognition method to detect concrete pouring activities on any concrete-based construction sites. A case study is presented to assess the methodology with a real-life example.
Findings
The analysis of the data helped build a theoretical pattern for concrete pouring activities and detect the different phases and progress of these activities. Accordingly, the data become useable to track progress and identify problems in concrete pouring activities.
Research limitations/implications
The paper presents an example for construction practitioners and researcher about a practical and easy way to analyze the big data that comes from cranes and how it is used in tracking projects' progress. The current study focuses only on concrete pouring activities; future studies can include other types of activities and can utilize the data with other building methods to improve construction productivity.
Practical implications
The proposed approach is supposed to be simultaneously efficient in terms of concrete pouring detection as well as cost-effective. Construction practitioners could track concrete activities using an already-embedded monitoring device.
Originality/value
While several studies in the literature targeted the optimization of crane operations and of mitigating hazards through automation and sensing, the opportunity of using cranes as progress trackers is yet to be fully exploited.
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Hani Alkayed and Bilal Fayiz Omar
This study aims to investigate the determinants of the extent and quality of corporate social responsibility disclosure (CSRD) in Jordan. The study examines a number of factors…
Abstract
Purpose
This study aims to investigate the determinants of the extent and quality of corporate social responsibility disclosure (CSRD) in Jordan. The study examines a number of factors that influence the extent and quality of CSR disclosure, such as corporate characteristics, corporate governance and ownership structure.
Design/methodology/approach
A quantitative approach and a content analysis technique is used to measure the extent and quality of CSRD from annual reports. The sample is drawn from the annual reports of 118 Jordanian companies between 2010 and 2015. A CSRD index is constructed, which includes the disclosures of the following categories: environmental, human resources, product and consumers, and community involvement. This is the first study that presents a new measurement for CSR disclosure quality by using images and charts in a seven-point scale measurement.
Findings
The result reveals that the extent of CSRD is higher than quality in Jordan. Regarding the determinants of CSR disclosures, the following factors were found to have a significant relationship with both the extent and quality of CSRD: board size, non-executive directors, age of firm, foreign members on the board, number of boards meetings, the presence of audit committees, big 4, government ownership, size of firm and industry type. Non-executive directors was found to have a significant correlation with the extent of CSRD.
Research limitations/implications
The current study has some limitations; first, the study findings are limited to the Jordanian environment. Second, the study adopted a purely quantitative method, and future research could include interviews and questionnaires to gather data from financial managers and chief executive officers (CEOs). Third, the potential influences on the level and quality of CSR are not limited to the variables tested in this study. Future research can be done on new determinants, such as CEO interlocking and profitability. Finally, the sample included companies from two main sectors – the services and industrial sectors; thus, this limited the results to these two main sectors.
Practical implications
Practitioners, as firms, should develop new strategies and ensure that CSR is included in their reports. Thus, companies can achieve legitimacy for their products and activities. Policymakers must consider introducing new laws that mandate CSRDs since it has many advantages for companies and society. In addition, this research suggests amending the law to require companies to have 33% of their directors be non-executives since this will remove the negative effect on CSR disclosure. Investors must pay attention to the social activities of the companies they invest in, as CSR could have a positive effect on their market value.
Social implications
The study has indicated that Jordanian companies became increasingly more involved in CSR activities, as this growth in CSRD is linked with global increases in CSR. Moreover, the study has revealed that the highest category of CSR disclosures is related to products or services and employee information. On the other hand, the lowest category of CSR disclosures is related to community and other disclosures (extent) and environmental disclosures (quality). Furthermore, the results show that the services sector was found to have more disclosures regarding employees and community, whereas the industrial sector was more concerned about environmental and product information.
Originality/value
To the best of the authors’ knowledge, this is the first study that presents a new measurement for CSR disclosure quality by using images and charts in a seven-point scale measurement. This new seven-point scale will be adopted to distinguish between poor and excellent disclosures. In addition, to the best of the authors’ knowledge, this is the first study in Jordan which examines the determinants of the extent and the quality of CSR for three categories, namely, corporate characteristics, corporate governance and ownership structure.
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