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Intellectual capital (IC) has been considered as a valuable asset in the wealth creation and sustainability of the company; however, limited and mixed results are found on its impact on firm financial performance and market value (MV). This paper aims to investigate the influence of IC toward MV and financial performance of publicly listed firms in Indonesia. In addition, this research also presents the comparison of the high and low level of knowledge industries regarding IC performance.

A balanced panel data of 127 firms from 12 industries in Indonesia during 2010 until 2017 was evaluated using dynamic panel regression and administering a well-developed Blundell–Bond instrument (dynamic panel data estimator) to account for endogeneity problem.

The results of this study showed that IC had a significant and positive impact on firm performance. Specifically, structural capital efficiency and capital employed (CE) efficiency have been contributed to the value creation of the company, after controlling for firm size and type of industry. Different to the theoretical expectation, this research found no significant relationship between IC and MV of the firm. However, when the sample was clustered into high-level and low-level knowledge industry, CE displayed positive and significant relationship in high-level industry.

This research contributes to IC research by having a larger sample of Indonesian firms from all industries except banks and financial institutions and using Modified Value Added Intellectual Capital measurement model. To address the endogeneity problem, dynamic panel regression using system generalized method of moment was applied.

The paper aims to find out the information content of performance measures from accounting and value-based measures that best explain the total shareholder return.

To achieve this aim, static and dynamic panel data regression analysis is applied to the sample of 56 Indian companies taken from the Nifty Midcap 100 Index, between 2012 and 2019.

It is found that accounting-based measures have more relative information content in predicting total shareholder return as compared to value-based measures. Economic value added (EVA) and cash value added (CVA) do not add to the information content provided by accounting-based measures. A combination of accounting-based measures and value-added intellectual coefficient (VAIC) adds marginally to the information content provided by accounting-based measures in explaining the total shareholder return. Dynamic panel regression analysis shows that return on assets (ROA), return on capital employed (ROCE), return on equity (ROE) and EVA have a significant impact on total shareholder return.

In this study, along with EVA, other measures from value-based measures, i.e. CVA are empirically tested to explain the total shareholder return. Intellectual capital efficiency computed by VAIC is also empirically tested along with accounting-based measures, EVA, CVA and market value added (MVA). To bring robustness to findings, data are tested by using dynamic panel regression analysis.

The purpose of the present study is to analyze the impact of corporate social responsibility (CSR) disclosures on firms' profitability and its persistence.

The study has been conducted for listed firms operating in India from 2008 to 2017. Content analysis has been utilized to estimate the CSR disclosures score. Further, dynamic panel regression has been utilized to estimate the relationship between CSR disclosures and profit persistence.

The results confirm positive profit persistence for Indian companies. The results further show that different dimensions of CSR disclosure have differential impact on firms' profitability. CSR dimensions concerning total community development and product-related disclosures have a positive relationship, whereas dimensions related to environmental and customer-related disclosures have a negative relationship with financial performance. The results also indicate that CSR disclosures are significantly related to profit persistence.

The study is first of its kind that analyzes the impact of CSR disclosure on profit persistence for Indian companies. The results can provide useful implications for managers and regulators in terms of formulation of overall CSR policies.

In recent years, the Indian banking sector is facing a major cause of concern in the form of Nonperforming Assets (NPA), and the priority sector lending (PSL) is generally recognized as the major factor contributing to it. Thus, the present study has been carried out with the objective of examining the relationship between priority sector lending and GDP growth. Thereafter, the role of PSL and certain other bank-specific, industry-specific and macroeconomic variables in determining NPA has been studied.

Taking a sample of 45 scheduled commercial banks, the study has been carried out for 14 years (2004–2018). Granger causality between PSL and GDP has been examined by applying the Dumitrescu-Hurlin test. For the purpose of investigating the impact of PSL and other determinants on NPA, both static and dynamic panel regression have been performed. Under the dynamic panel, system generalized methods of moments (S-GMM) approach has been followed.

The findings show that there exists a positive correlation and bidirectional causal relationship between PSL and GDP, which implies that PSL brings additional growth for the whole economy. In addition to it, PSL is found to be insignificant for the NPA ratio, and thus, it can be inferred that credit extended to government-specified sectors does not bring any major increase in the bad loan portfolio of banks.

The policymakers and bank management can take a cue from the findings of this study to decrease the exposure to loan nonrepayment issue. The priority sectors are in need of formal credit for their growth, and since the rising population of the country can find employment in these sectors, banks should meet their credit needs while securing their position with regard to the NPA problem.

The issue of NPA determinants, and in particular, the contribution of priority sector lending in it has not been much explored for Indian banking sector. Also, the present study adds to the literature by using the causality approach for examining the importance of directed credit schemes for economic growth.

The purpose of the study is to investigate the impact of tax planning activities on the firm value of FTSE 100 firms. We employ static and dynamic panel regression analyses on a sample of 70 companies drawn from the UK FTSE 100 over a five-year period (2006–2010). Empirical evidence suggests that tax planning activity as measured by the proxies based on reported accounting information has a negative impact on firm value. Moreover, the results from the Generalized Methods of Moments (GMM) models suggest significant dynamics in firm value, i.e., the current firm value is positively affected by the past firm value. The findings imply the need for a full review of the adequacy and relevance of tax accounting disclosure and therefore have policy implications for accounting standard setters.

The purpose of this paper is twofold: to explore the interrelationships between FDI with growth and sustainability dimension; and to empirically analyze the four dimensions, namely, environmental, economic, social and governance of sustainable FDI for South Asia and West Asia.

The data utilized in the paper is sourced from the World Development Indicators and the Worldwide Governance Indicators, covering South and West Asian region over the period 2011–2017. The paper employed both static and dynamic panel (two-step difference generalized methods of moments) estimation methods.

The results established a significant and robust relationship of past year FDI inflows with the current year’s value of FDI inflows for both the regions. Further, some variances in the relationships such as control of corruption, long-run carbon emissions, research and development, number of trademark applications as per the contextual factors have been detected.

The conclusions related to gender and governance found in this paper will be of interest to both researchers and policy makers for substantially reorienting the sustainability attributes to the foreign investment.

The authors’ main contributions are: to encapsulate the conceptual framework into an empirical model by combining all the four dimensions, namely, environmental, economic, social and governance; to have analyzed the possible differences and similarities in the study based on South and West Asia; to have explored the relationship between gender and FDI.

This study aims to analyze the factors that influenced the stability of Islamic banks in Asia.

The panel data consisted of 16 Asian countries operating Islamic banks from 2010 to 2019. The data were analyzed through dynamic panel regression using Arellano–Bond generalized method of moments (GMM).

This study provides novel insights into the factors influencing the stability of Islamic banks in Asia. The findings suggest that past financial stability, liquidity risk, loan risk, inflation, gross domestic product, government effectiveness, rule of law and control of corruption are all significant contributors to Islamic bank stability. Notably, political stability, voice and accountability and regulatory quality did not show a significant association.

The current study’s focus was solely on Islamic bank stability in Asian countries, which leaves room for further exploration. Future research could benefit from expanding the scope to encompass all nations with active Islamic banking institutions. In addition, incorporating a broader range of macroeconomic variables, such as exchange rates, interest rates, profit-sharing equivalents and investment rates, could provide deeper insights into the factors influencing Islamic bank stability across diverse contexts.

This study has significant practical implications for policymakers, bank managers and regulatory authorities seeking to enhance the stability of Islamic banks in Asia. By implementing robust risk management frameworks, adopting prudent regulatory policies, and actively fostering economic growth, policymakers can create an environment conducive to the sustained development and prosperity of Islamic banking institutions. Notably, promoting good governance practices and instituting effective crisis prevention measures can further bolster the resilience of the Islamic banking sector, enabling it to play a more dynamic role in contributing to the overall development and welfare of Asian societies.

The findings of this study carry significant social implications, highlighting the need for governments in Asian countries to prioritize public policies that promote good governance and ethical practices within the banking industry. Such policies, coupled with efforts to attract foreign investments and foster a stable and transparent banking sector, have the potential to generate far-reaching positive effects on society. Through economic growth stimulated by a robust Islamic banking sector, Asian countries can create new employment opportunities, improve living standards and ultimately enhance the overall well-being of their citizens.

This study contributes to the ongoing discourse on Islamic banking stability by offering novel insights and expanding the empirical knowledge base in this field. The dual application of robust regression methodologies – namely, GMM dynamic panel data models – presents a unique analytical framework for investigating the complex interplay between diverse variables and Islamic bank stability. This methodological choice fosters deeper understanding of the dynamic relationships at play, advancing our understanding of how specific factors influence the sector's resilience and performance. In addition, the study uses rigorous empirical techniques and engages with the extant literature to provide fresh perspectives and nuanced interpretations of the findings, further solidifying its contribution to the field's originality and richness.

The present study examines the initial working capital policy (WCP) and its evolution for newly established manufacturing firms.

Using panel data of 162 firms over a period of 10 years, the study analyses the persistence-cum-convergence in WCP over the subsequent years through descriptive analysis and difference of means test. Further, the prevalence of ß – convergence, and σ-convergence has been examined using standard least squares regression, dynamic panel analysis and the Wald test.

The results indicate that sample firms continue to follow the initial WCP in the subsequent years with a gradual convergence in the WCP. Alternatively, the firms with aggressive (conservative) WCP at the time of incorporation will continue following it. Further, the firms with aggressive initial WCP have witnessed higher growth than those with conservative initial WCP.

Findings will assist managers and practitioners to understand the dynamics of WCP over the life cycle of the firm and select appropriate WCP as certain policies lead to certain growth paths.

Though working capital management has been recognized as a critical managerial decision, limited research is available on its evolution, especially for newly established manufacturing companies in an emerging economy. Current research attempts to fill this gap and provide valuable insights for the effective management of liquidity.

The main research target of this paper is to capture the network effects using the case of mobile cellular telephony, identified in European telecommunication markets, and its determinants enhancing the process of digital technologies diffusion.

This research relies on panel and dynamic panel regression analysis. The empirical sample covers 30 European countries, and the period for the analysis is set for 2000–2019.

This work contributes by examining the network effects identified on European telecommunication markets that drive the process of digital technologies diffusion, but it also extends the understanding of the latter by tracing major determinants of fast network expansion, e.g. prices of access to and use of, per capita income, urbanisation, population density, accessibility of fixed telephony infrastructure. The main findings support the initial supposition that the installed base strongly enhances diffusion of new technologies, while other factors, for example, prices, are not of prime importance.

This research has certain managerial implications. The unveiled network effects driving adoption of technological innovations constitute a significant determinant of implementation of differentiation strategy by telecommunication companies. Due to network effects consumers' propensity to join the network is valued higher than the prices of services offered, which is crucial not only from the perspective of the company's pricing strategy but also enables telecommunication companies to introduce to the market new products and/or services concentrating on increasing its quality and usability rather than future prices.

This is the first work that empirically verifies the intercompanies and interpersonal diffusion of cellular telephony, hypothesising that this process relies on unique network effects.

This paper aims to conduct a comparative study on the impact of income diversification and the main non-interest components on banks’ financial performance and risk-adjusted profitability in China and Egypt.

This study uses both static and dynamic panel regression analyses on a sample of Egyptian and Chinese banks from 2009 to 2022.

Income diversification yields positive effects on bank profitability in Egypt and China. Trading income consistently exhibits a significant positive influence on bank profitability in both nations. Conversely, fee-based income positively impacts bank profitability in China, whereas in Egypt, this effect is observed under dynamic-based regression models. On the contrary, income diversification does not consistently increase risk-adjusted profitability in both countries, especially Egypt.

To the best of the authors’ knowledge, this is the first study to examine the impact of income diversification on Egyptian bank performance while identifying the most significant non-interest income components. In addition, the comparative analysis conducted in this study reveals the positioning of China, the largest economy among emerging countries, in terms of the degree of income diversification, its impact on bank profitability and the extent to which non-interest income components contribute to bank profitability when compared with Egypt, representing an emerging country characterised by different levels of bank market power, financial infrastructure and expertise. Findings hold significant implications, suggesting that bank managers and policymakers should prioritise diversifying income sources, particularly through fee-based services and trading activities in China, and trading activities in Egypt, to enhance financial profitability.