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Article
Publication date: 15 September 2021

Fatma Ahmed and David G. McMillan

This paper investigates the effect of political connections on the capital structure of banks before and after the financial crisis in Gulf Cooperation Council (GCC) countries.

Abstract

Purpose

This paper investigates the effect of political connections on the capital structure of banks before and after the financial crisis in Gulf Cooperation Council (GCC) countries.

Design/methodology/approach

This paper employs the natural experiment that the financial crisis offers and uses a difference-in-differences model to investigate the effect of political connections on capital structure. Capital structure is measured by the total debt to total assets ratio. Control variables include bank size, growth, profitability, coverage ratio and volatility. The research sample includes all the banks in the GCC from 2005 to 2016.

Findings

The authors find that political connections negatively affect banks capital structure decisions. The results contradict the claim that politically connected firms tend to sustain higher debt due to government privilege and a lower chance of bankruptcy. Additionally, the results show that after the financial crisis, politically connected banks de-lever more compared to non-connected counterparts. This could suggest that the degree of support received by connected banks changes or that they exploit their retained earnings for financing (individual country results, however, suggest that leverage increases in Qatar).

Originality/value

This paper provides several contributions. First, GCC countries present an interesting and important area in which to study the relation between political connections and capital structure as it represents a mix of newer markets that seek to attract investors and foreign capital. Second, to the best of our knowledge, the present study is the first to examine the effect of the political connection and capital structure in GCC region where royal families play a significant role, especially for banks. Third, our paper is the first to link connections with leverage after the financial crisis in the banking sector. Moreover, our paper is the first to investigate this phenomenon in the GCC countries using manually collected primary data.

Details

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

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Article
Publication date: 20 August 2021

Daniel Hofer, Markus Jäger, Aya Khaled Youssef Sayed Mohamed and Josef Küng

For aiding computer security experts in their study, log files are a crucial piece of information. Especially the time domain is very important for us because in most…

Abstract

Purpose

For aiding computer security experts in their study, log files are a crucial piece of information. Especially the time domain is very important for us because in most cases, timestamps are the only linking points between events caused by attackers, faulty systems or simple errors and their corresponding entries in log files. With the idea of storing and analyzing this log information in graph databases, we need a suitable model to store and connect timestamps and their events. This paper aims to find and evaluate different approaches how to store timestamps in graph databases and their individual benefits and drawbacks.

Design/methodology/approach

We analyse three different approaches, how timestamp information can be represented and stored in graph databases. For checking the models, we set up four typical questions that are important for log file analysis and tested them for each of the models. During the evaluation, we used the performance and other properties as metrics, how suitable each of the models is for representing the log files’ timestamp information. In the last part, we try to improve one promising looking model.

Findings

We come to the conclusion, that the simplest model with the least graph database-specific concepts in use is also the one yielding the simplest and fastest queries.

Research limitations/implications

Limitations to this research are that only one graph database was studied and also improvements to the query engine might change future results.

Originality/value

In the study, we addressed the issue of storing timestamps in graph databases in a meaningful, practical and efficient way. The results can be used as a pattern for similar scenarios and applications.

Details

International Journal of Web Information Systems, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1744-0084

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Article
Publication date: 11 August 2021

Bin Zheng, Yi Cai and Kelun Tang

The purpose of this paper is to realize the lightweight of connecting rod and meet the requirements of low energy consumption and vibration. Based on the structural design…

Abstract

Purpose

The purpose of this paper is to realize the lightweight of connecting rod and meet the requirements of low energy consumption and vibration. Based on the structural design of the original connecting rod, the finite element analysis was conducted to reduce the weight and increase the natural frequencies, so as to reduce materials consumption and improve the energy efficiency of internal combustion engine.

Design/methodology/approach

The finite element analysis, structural optimization design and topology optimization of the connecting rod are applied. Efficient hybrid method is deployed: static and modal analysis; and structure re-design of the connecting rod based on topology optimization.

Findings

After the optimization of the connecting rod, the weight is reduced from 1.7907 to 1.4875 kg, with a reduction of 16.93%. The maximum equivalent stress of the optimized connecting rod is 183.97 MPa and that of the original structure is 217.18 MPa, with the reduction of 15.62%. The first, second and third natural frequencies of the optimized connecting rod are increased by 8.89%, 8.85% and 11.09%, respectively. Through the finite element analysis and based on the lightweight, the maximum equivalent stress is reduced and the low-order natural frequency is increased.

Originality/value

This paper presents an optimization method on the connecting rod structure. Based on the statics and modal analysis of the connecting rod and combined with the topology optimization, the size of the connecting rod is improved, and the static and dynamic characteristics of the optimized connecting rod are improved.

Details

Journal of Engineering, Design and Technology , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1726-0531

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Book part
Publication date: 1 October 2015

Reza Houston and Stephen P. Ferris

In this study, we examine the relationship between political connections of private firms and the initial public offering process. Using registration statement…

Abstract

In this study, we examine the relationship between political connections of private firms and the initial public offering process. Using registration statement information, we create a unique database of politically connected IPO firms. We find that political connections are substitutes to high-quality underwriters and big four auditors. Politically connected firms manage earnings more highly upward than non-connected firms prior to the public offering. Politically connected firms also exhibit less underpricing than non-connected firms. Finally, politically connected IPO firms have superior post-IPO returns relative to non-connected IPO firms.

Details

International Corporate Governance
Type: Book
ISBN: 978-1-78560-355-6

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Book part
Publication date: 21 July 2017

Farah Y. Shakir and Yih-teen Lee

Global leadership involves the ability to connect with individuals from different cultures. Connecting is an actionable process that creates mutual understanding, positive…

Abstract

Global leadership involves the ability to connect with individuals from different cultures. Connecting is an actionable process that creates mutual understanding, positive feeling, and a common approach to collaborate. Forming interpersonal connections can be an effective way for global leaders to cut across cultural differences as it is based on a universal human need for belonging. Our study aims to understand the specific actions global leaders engage in to connect with people across cultures. Furthermore, we examine how identity experiences of multicultural individuals contributed to their capabilities of connecting with people from different cultures in their role of global leader. Through a qualitative analysis of in-depth interviews with multicultural individuals in global leadership positions, we develop a model of connecting across cultures involving specific leadership actions that lead to emotive, cognitive, and behavioral dimensions for connection. Our model also illustrates how multicultural identity experiences equip global leaders with qualities such as empathy, perspective-taking, and integration, which enable them to engage in actions for connecting to people across cultures. The research in this chapter contributes to a better understanding of global leadership with novel insights into how global leaders connect to people and sheds light on the advantages of multicultural identity experiences in this process.

Details

Advances in Global Leadership
Type: Book
ISBN: 978-1-78714-698-3

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Book part
Publication date: 12 September 2017

Pere Suau-Sanchez, Augusto Voltes-Dorta and Héctor Rodríguez-Déniz

The connectivity provided by full-service network carriers under the umbrella of airline alliances is increasingly challenged by the services of Middle Eastern airlines…

Abstract

The connectivity provided by full-service network carriers under the umbrella of airline alliances is increasingly challenged by the services of Middle Eastern airlines via their own hubs, and the rise of new passenger strategies like self-connectivity. While these two developments can potentially benefit consumers with more services and lower fares, the rise of Middle East carriers has been met with opposition by EU and US airlines that call for increased protectionism. In addition, only a few airports in the world actively support self-connections. In this context, this study aims to investigate (1) the markets in which Middle East carriers exert a stronger dominance in terms of the number of passenger connections, (2) whether EU, US, or Asian hubs provide a competitive quality of connectivity in terms of travel time, and (3) whether a significant potential for self-connections is hidden at major airports worldwide. To that end, several datasets of passenger bookings (MIDT), airline schedules, and minimum connecting times between 2012 and 2015 are combined in a connections-building methodology that delivers six market-specific airport connectivity indicators for our benchmarking exercise. Our findings show that although European and some Asian hubs have lost traffic in global markets, they remain competitive from a quality perspective. US hubs have maintained their market share and competitive position. Finally, we identify the airports and airlines with the highest potential to provide self-connecting travel options, which can become an attractive new source of revenue for the parties involved.

Details

The Economics of Airport Operations
Type: Book
ISBN: 978-1-78714-497-2

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Article
Publication date: 24 December 2020

Alinda Kokkinou, Emma Tremiliti, Marc van Iwaarden, Ondrej Mitas and Sebastiaan Straatman

The purpose of this study is to explore how tourists use connected mobile devices such as smartphones to manage their tourist experience.

Abstract

Purpose

The purpose of this study is to explore how tourists use connected mobile devices such as smartphones to manage their tourist experience.

Design/methodology/approach

A multi-method, cross-sectional approach was used consisting of questionnaires about tourists self-reported use of connected mobile devices and recorded observations of tourists' interaction with their devices.

Findings

Respondents who reported a more intense use of their connected mobile devices also reported a heightened tourist experience. Specifically, high users reported more intense emotions and expressed the belief that using their device improved the quality of their vacation. More extensive use of connected mobile devices was also linked to the perception that waits for attractions and restaurants were shorter.

Research limitations/implications

While the data and methods employed do not allow for testing of causality, the field research approach provides the benefit of high ecological validity, complementing previous studies on this topic.

Practical implications

Commercial service providers should explore ways to stimulate the use of devices, for instance by offering information about the attraction, or by providing an attractive setting for tourists taking photos. This contributes to shorter time perception and improved visitor evaluations.

Originality/value

Tourists' use of connected mobile devices to manage their tourist experience varies in terms of quality and intensity. Findings show that travelers know how to use their smartphones in a way that best suit their information and social needs.

Details

Journal of Hospitality and Tourism Insights, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9792

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Case study
Publication date: 16 August 2021

Devid Jegerson and Syed Zamberi Ahmad

To understand the goals and key performance indicators of online social media marketing and the primary drivers of interaction in a social community. To analyze the…

Abstract

Learning outcomes

To understand the goals and key performance indicators of online social media marketing and the primary drivers of interaction in a social community. To analyze the challenges faced by the team during the launch of the new digital platform National Bank of Fujairah (NBF) Connect, interacting with an already online present small- and medium-sized enterprise (SME) community. To analyze the concept of community marketing in an emerging country and appreciate the value of digital platforms in customer relationship management. To identify and critically evaluate insights on which ideas for marketing communication activities for NBF Connect can be built upon. To build an operational plan for NBF Connect customer engagement on online social communities.

Case overview/synopsis

In 2020, NBF launched a new digital platform for SMEs in the United Arab Emirates (UAE) called “NBF Connect” with the purpose of redefining banking services for the small businesses sector. The digitalization wave in the UAE was revolutionizing various industry sectors. The global banking industry was already impacted by digitalization and some banks in the UAE, especially in the retail segment (Emirates NBD, 2017), had already introduced many technology-led innovations bringing more effectiveness in the processes and better customer experience. However, the SME banking segment was lagging in terms of innovation. In 2020, the COVID-19 pandemic situation, with compulsory lockdowns and social distancing, changed the way of doing business for entire industries and increased the pressure on banks for the provisioning of new digital products. Rose joined NBF in the first part of 2020 as Product Owner of the project NBF Connect. The new digital platform was ideated by NBF to be differentiated from other banking products. It was co-created with insights from and regular interaction with the SME community. After the deployment of the first version of the platform in April 2020, Rose realized that the user adoption and commercial results were below par. Over the next three months, only a few users were using the platform with shallow interactions. This case study looks at Rose’s journey as NBF refined and evolved its SME banking platform, including developing and positioning the digital platform in the market, identifying competitive advantages and developing the right commercial strategy to monetize NBF’s investment in the digital platform’s development.

Complexity Academic Level

Students are expected to have knowledge of the issues relevant to marketing and communication management, product management and business development.

Supplementary materials

Teaching Notes are available for educators only.

Subject code

CSS 8: Marketing

Details

Emerald Emerging Markets Case Studies, vol. 11 no. 2
Type: Case Study
ISSN: 2045-0621

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Article
Publication date: 8 April 2020

Joni Joni, Kamran Ahmed and Jane Hamilton

The purpose of this paper is to examine the association between politically connected boards (both supervisory boards [SBs] and boards of directors [BODs]) and firm performance.

Abstract

Purpose

The purpose of this paper is to examine the association between politically connected boards (both supervisory boards [SBs] and boards of directors [BODs]) and firm performance.

Design/methodology/approach

We focus on the political connections of SBs and BODs separately and estimate a quadratic model based on 1,099 Indonesian listed firm-year observations. Additionally, we address endogeneity problem by using sample selection model, generalized method of moments (GMM), propensity score matching\ and lagged variables regression.

Findings

We find that political connections of SBs are more significantly associated with firm performance than that of BODs. Furthermore, such an association is not monotonic, in that the relationship declines after a certain level of political connections. We also find that stand-alone firms with political connections perform better than firms belonging to family business groups. Our results are robust to alternative measures and to tests for endogeneity.

Research limitations/implications

This study contributes to the literature by proposing non-linear model to incorporate the rent-seeking and resource dependence arguments. Although previous studies use regression analysis (linear model) and find mixed results on the association between political connections and firm performance, our non-linear model extends our understanding of the relationship between political connections and firm performance. We extend corporate governance literature by examining the role of political supervisory boards in the dual board system and the role of family business group in Indonesia. Several limitations are addressed to interpret all the findings. We use one period of the presidency (SBY-Susilo Bambang Yudhoyono) in Indonesia as our sample, but other regimes are not considered. We collect political connection and family business group information based on publicly data available. For politically connected firms, we do not have information whether they obtain connections through ruling parties or not.

Practical implications

Practitioners (such as companies and policymakers) can use our models to consider the level of political connections that can improve corporate’s performance. Additionally, they can use our findings to design corporate governance policies.

Originality/value

The paper identifies the use of the non-linear model on the association between political connections and firm performance in Indonesian dual board system.

Details

Journal of Accounting & Organizational Change, vol. 16 no. 1
Type: Research Article
ISSN: 1832-5912

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Article
Publication date: 24 January 2020

Xin Yu and Ying Zheng

The purpose of this paper is to examine whether the political connections of listed firms in China affect how the market reacts to cases of financial misrepresentation…

Abstract

Purpose

The purpose of this paper is to examine whether the political connections of listed firms in China affect how the market reacts to cases of financial misrepresentation investigated by the regulatory authorities.

Design/methodology/approach

The authors use an event study method and the financial misrepresentation events in China stock markets as research setting and empirically test the association between market reactions to the announcement of financial misrepresentations and the presence of political connections.

Findings

The results show that on average, there is no significant market reaction to financial misrepresentation for politically connected firms. In contrast, however, there is a significantly negative market reaction for non-connected firms, which suggests that investors do not punish politically connected firms for financial misrepresentation. The authors argue that politically connected companies use the altered financial information to gain legitimacy and obtain benefits from the government. Consistent with the argument, the authors find that in the years after they disclose their financial misrepresentation, firms with political connections are more likely to increase their bank loans than firms without political connections.

Originality/value

The authors provide a new explanation for the low-earnings quality of politically connected firms.

Details

Accounting Research Journal, vol. 33 no. 1
Type: Research Article
ISSN: 1030-9616

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