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The study examines the relationship between the consequential social cost of market power (i.e. welfare performance of banks) and cost efficiency using data covering the…
The study examines the relationship between the consequential social cost of market power (i.e. welfare performance of banks) and cost efficiency using data covering the period 2009 to 2017 from the Ghanaian banking industry.
The study adopts the ordinary least squares (OLS), fixed effect (FE) panel regression and the quantile regression (QR) approaches to control for heterogeneity and provide increased room for policy relevance. The two-stage least squares instrumental variables (2SLS-IV) regression is used to ensure the robustness of the findings against the problem of possible reverse causality.
The results indicate a positive relationship between banks' welfare performance and cost efficiency, which suggests that greater cost efficiency hedges welfare losses. In other words, welfare gains and cost-efficient banks are not mutually exclusive. Also, the results show evidence that the sensitivity of welfare gain to cost efficiency depends on the knowledge of local market dynamics. Further, the findings from the QR estimation suggest that, but for welfare loss at low (Q.25) to the median (Q.50) quantiles, cost efficiency is a necessary and sufficient condition to hedge the welfare losses.
The results demonstrate that financial consumer protection cannot be achieved without cost efficiency in the presence of both foreign banks and high market knowledge. Therefore, our paper suggests an integrated cost efficiency policy approach that has the complementary effect of a robust information sharing mechanism and incentives to hedge against welfare losses in the banking sector of emerging economies. Moreover, if welfare gain is synonymous with cost-efficient banks, then the presence of a quiet life is typical of financial consumer protection.
This study provides insight into the importance of cost efficiency to the public policy of financial consumer protection in an era of foreign banks' dominance. From the review of prior literature, this paper is the first to apply the QR estimation technique to examine the effect of cost efficiency throughout the conditional distribution of bank welfare performance rather than just the conditional mean effect of cost efficiency.
The chapter examines the simultaneous rise of a new spirit of isolationism amid the increasing role of globalization of business and economic activity. It focuses on the…
The chapter examines the simultaneous rise of a new spirit of isolationism amid the increasing role of globalization of business and economic activity. It focuses on the competing claims regarding whether Africa could be better off or not in the light of the current isolationist views being expressed by some world leaders and countries. The chapter’s importancve lies in the fact that it contributes to a discussion which has been of considerable concern to many people of late. Whilst it is still too early to predict the long-term effect on the current isolationist policies by some developed countries, it is quite clear that Africa will lose the attention of the world in view of the recent happenings. Ironically, the uncertainty and disruption underway could also provide the needed impetus that can propel the continent to assume responsibility for itself and thereby strife to develop itself more efficiently and effectively than it has ever done.
While it is essential to further research the growing diversity in western metropolitan cities, little is currently known about how the members of various ethnic…
While it is essential to further research the growing diversity in western metropolitan cities, little is currently known about how the members of various ethnic communities acculturate to multicultural societies. The purpose of this paper is to explore immigrants’ cosmopolitanism and acculturation strategies through an analysis of the food consumption behaviour of ethnic consumers in multicultural London.
The study was set within the socio-cultural context of London. A number of qualitative methods such as in-depth interviews, observation and photographs were used to assess consumers’ acculturation strategies in a multicultural environment and how that is influenced by consumer cosmopolitanism.
Ethnic consumers’ food consumption behaviour reflects their acculturation strategies, which can be classified into four groups: rebellion, rarefaction, resonance and refrainment. This classification demonstrates ethnic consumers’ multi-directional acculturation strategies, which are also determined by their level of cosmopolitanism.
The taxonomy presented in this paper advances current acculturation scholarship by suggesting a multi-directional model for acculturation strategies as opposed to the existing uni-directional and bi-directional perspectives and explicates the role of consumer cosmopolitanism in consumer acculturation. The paper did not engage host communities and there is hence a need for future research on how and to what extent host communities are acculturated to the multicultural environment.
The findings have direct implications for the choice of standardisation vs adaptation as a marketing strategy within multicultural cities. Whilst the rebellion group are more likely to respond to standardisation, increasing adaptation of goods and service can ideally target members of the resistance and resonance groups and more fusion products should be exclusively earmarked for the resonance group.
The paper makes original contribution by introducing a multi-directional perspective to acculturation by delineating four-group taxonomy (rebellion, rarefaction, resonance and refrainment). This paper also presents a dynamic model that captures how consumer cosmopolitanism impinges upon the process and outcome of multi-directional acculturation strategies.
Dynamic capabilities (DCs) help media firms adapt to rapidly changing environments. The purpose of this study is to provide a comprehensive literature review of studies of…
Dynamic capabilities (DCs) help media firms adapt to rapidly changing environments. The purpose of this study is to provide a comprehensive literature review of studies of DCs in strategic management research with a view to understanding its implications for the management of media organizations. Essentially, it fertilizes on the idea that the concept of DC is useful and vital for answering various critical questions regarding the challenges that media organizations are currently facing.
This study builds on a systematic literature reviewing design as the research methodology. It aims to identify, critically evaluate, and integrate factors, dimensions, and findings on studies of DCs in strategic management research and builds knowledge transfers to the field of strategic management research in the media industry.
The study shows that the DC framework helps media firms effectively respond to changing environments. The conceptual DC framework has implications for media strategy practice. Results indicate a considerable growth in the number of papers published related to the DCs in media organizations from 2003 to 2018.
The study qualifies the relevance and validity of the DC framework in strategic management research for the field of strategic media management. It explores a research agenda in this domain by precisely explaining the significant trends in the theory of DC to shape managerial strategies in the media industry.