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1 – 10 of over 163000The current paper aims to expand an empirical assessment of correlations of the stock exchange in Poland with other stock markets and foreign economies. The paper attempts to…
Abstract
Purpose
The current paper aims to expand an empirical assessment of correlations of the stock exchange in Poland with other stock markets and foreign economies. The paper attempts to explore international spillover effects during the current financial crisis.
Design/methodology/approach
The study builds upon questionnaires and interviews with practitioners associated with the Polish stock market. The interviewees represent both the advanced and emerging European economies. At this point, analyzing the notions of a cross‐section of experts from different geographical regions increases the value of the findings. The interviewees were asked to comment on a wide range of examples mirroring the reaction of the Warsaw Stock Exchange (WSE) to economic and financial information derived from foreign markets in times of the current financial crisis. An empirical model evaluating the cross‐border implications for the Polish stock market was specified. The model encompassed a wide range of variables and events influencing the performance of the Polish stock market and investors' uncertainty during the nascent financial crisis. Semi‐structured interviews complemented the quantitatively obtained findings and allowed for a gap between theory and practice to be bridged. The qualitative approach injected a dose of realism into the empirical model utilized in the paper and contributed to the value of general findings.
Findings
The current paper reports initial responses of the WIG20 indexed equity prices to 41 economic and financial information sets, originating from systemically significant markets. The influence of these sets is ranked in accordance with their influential powers. The ranking indicates which information events are more likely to be prioritized by investors associated with the WSE and which news are ignored in times of the current financial crisis. Henceforth, the findings outline the crisis‐induced changes in the uncertainty of equity investors and the implications for investment decision making processes. Comparing the responses to economic and financial information sets among different stock markets and industries delivers insight into the profitability of the international portfolio diversification based on either the country or industry specific factors.
Originality/value
The paper focuses on the Polish stock market, which is relatively under‐researched by the existing body of literate. However, Poland's stock market became a leading central European bourse during the current financial crisis. Reporting a number of useful and important implications for the practitioners associated with the WSE constitutes the core value of the paper.
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Focusing on a sample of firms from environmentally sensitive industries over several years, this study aims to reexamine the association between environmental disclosure and…
Abstract
Purpose
Focusing on a sample of firms from environmentally sensitive industries over several years, this study aims to reexamine the association between environmental disclosure and environmental performance.
Design/methodology/approach
The authors use a panel data analysis to examine how the interaction between environmental performance and economic and legitimacy factors influence firms’ environmental disclosures.
Findings
Results suggest that environmental performance moderates the effect of economic and legitimacy incentives on firms’ propensity to provide proprietary environmental disclosure, with both sets of incentives being influential. More specifically, there appears to be a reporting bias based on the firm’s environmental performance whereas the high-performers disclose more environmental information in the three following vehicles: annual report, 10-K and sustainability reports combined. Results also show that economic and legitimacy factors influence the disclosure decisions of the low and high environmental performers differently.
Practical implications
Understanding the determinants of environmental disclosure for high and low environmental performers helps regulators to close the reporting gap between these firms.
Social implications
There is little evidence to suggest that firms with low-environmental performance attempt to use their disclosures to legitimize their environmental operations.
Originality/value
The study examines environmental disclosures of 78 firms over a period of 14 years in annual, 10-K and sustainability reports. The panel data analysis controls for significant cross-sectional and period effects.
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Syed Hassan Raza, Ogadimma C. Emenyeonu, Muhammad Yousaf and Moneeba Iftikhar
Citizen journalism practices through social networking sites are increasingly becoming an imperative source of public opinion formation. Given the increase in the volume of…
Abstract
Purpose
Citizen journalism practices through social networking sites are increasingly becoming an imperative source of public opinion formation. Given the increase in the volume of information sharing on social media during COVID-19, this study aims to grasp the largely unknown interaction of the individual’s trust in citizen journalism practices and public perception formulation. Drawing on this idea, the study has twofold objectives: first, to examine the influence of user-generated information about economic policies of government during COVID-19 as the antecedent of public perception about government performance and second, to identify the moderating role of trust in citizen journalism practices during COVID-19 through social networking sites.
Design/methodology/approach
The study used a survey method and a sample of 464 adults were collected through an online administrated questionnaire.
Findings
The findings specify that user-generated content that is pro-government economic policies during COVID-19 positively influenced the perception of government performance. On the other hand, user-generated information that criticized government economic policies had a negative influence on public perception.
Originality/value
This study seeks to intensify the understudied phenomenon of how nature and source of the information could interact to influence one’s information processing during a crisis such as pandemic COVID-19. Furthermore, only a little research has been conducted in this area focusing on two mechanisms, namely; citizen journalism and trust in social media user-generated information about prevailing economic insecurities during crisis provided through citizen journalism.
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The emergence of business information resources and services on the Internet is discussed and its impact on business librarianship. Important resources in various business areas…
Abstract
The emergence of business information resources and services on the Internet is discussed and its impact on business librarianship. Important resources in various business areas are identified, such as economics, finance, marketing, international business, and real estate. It is argued that business information on the Internet has become a very important part of business information services and that it poses great challenges to business librarianship. Subject knowledge in business has become increasingly crucial for business librarians to effectively identify, evaluate, select, and organise business information on the Internet. Without subject knowledge, or with a lack of subject knowledge in business, business librarians will not be able to maintain the quality of business information services. The article further argues that, given the fact that a large percentage of business librarians in the USA do not have formal training in business, it is time for library and information science schools and libraries to address this issue by setting high standards for recruiting instructors in business information and by setting high standards for employing business librarians.
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Beatriz Cuadrado-Ballesteros, José Frías-Aceituno and Jennifer Martínez-Ferrero
The aim of this study is to analyse the level of environmental, economic, and social engagement disclosed by local governments, taking into account factors such as political…
Abstract
Purpose
The aim of this study is to analyse the level of environmental, economic, and social engagement disclosed by local governments, taking into account factors such as political ideology and media pressure.
Design/methodology/approach
The authors analysed 102 large Spanish municipalities, using data from 2011. An econometric model was used based on dependency techniques for cross-sectional data. The Tobit technique is suitable, since it enables the authors to address particular considerations of extreme scores on the dependent variable.
Findings
The results show that local governments report less strategic and socio-economic information when subjected to strong media pressure, because the press tends to focus on unusual, negative news, and ignores other issues such as the environment. However, in municipalities governed by left-wing parties, media pressure actually promotes disclosure of this type of information.
Research limitations/implications
It would be interesting to create an information index which includes local governments' disclosure, spanning a period of several years.
Practical implications
Particularly in municipalities governed by a left-wing party, media pressure favours the disclosure of sustainability information, including information about the municipal corporation and strategic and social issues.
Originality/value
This study analyses the impact of the press on the disclosure of sustainability information by local governments and also tests the moderating effect of the ruling party's political ideology. The authors did not find any paper that had analysed this impact before.
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Discusses the fact that access to published information is essential to human development. This applies to social, cultural, economic, political and spiritual dimensions…
Abstract
Discusses the fact that access to published information is essential to human development. This applies to social, cultural, economic, political and spiritual dimensions. Information needs to be accurate, timely and relevant Information provision is not a cheap function to manage. The library is unique in providing access to a wide range of published information in the content of which it has no economic interest. Communities need access to information, some has real commercial worth but much has no obvious marketable value. The value of information is determined by its value to the user. Anyone searching for economic growth or regeneration needs information of highly variable nature and value. The essence of regeneration is that a community is changing direction, not merely trying to revitalise the past. The information needs of anyone in this situation are many and varied and will require material from areas of knowledge not previously required. The essential role of any library is to be a neutral provider of access. This neutrality marks it out from other organisations. Co‐operation among library providers to ensure maximum access for all clients in the community is essential. Failure to develop a wide range of library services for communities seeking regeneration will seriously hamper their growth and change.
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Liguang Zhang, Wanyi Chen and Ning Hu
The main purpose of this study is to examine whether economic policy uncertainty affects the stock liquidity. Furthermore, this study explores the influencing factors…
Abstract
Purpose
The main purpose of this study is to examine whether economic policy uncertainty affects the stock liquidity. Furthermore, this study explores the influencing factors, transmission mechanism and solution path between economic policy uncertainty and the stock liquidity.
Design/methodology/approach
A data set comprising 97,729 firm-quarter observations of Chinese firms with A-shares listed on the Shenzhen and Shanghai stock exchanges was selected, China's economic policy uncertainty was measured by using the China Economic Policy Uncertainty Index and the impact of economic policy uncertainty on the stock liquidity over the period 2004–2017 was empirically tested. The empirical analysis was based on ordinary least square regression model, and mediation and moderation effect models were used in the further analysis.
Findings
The empirical results show that the higher the economic policy uncertainty, the lower the stock liquidity, which is more significant in firms with an opaque information environment, less investor attention and weak risk resistance ability. The authors argue that the transmission mechanism can be explained by the quality of information disclosure and investor sentiment. Moreover, the negative impact of economic policy uncertainty on the stock liquidity can be mitigated by increasing voluntary disclosures.
Originality/value
This study enriches the literature on factors affecting the stock liquidity from the perspective of macroeconomic policy and provides a reference for policymakers to formulate relevant measures to improve the stock liquidity in emerging markets.
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Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some…
Abstract
Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.
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Christian Sonnenberg and Jan vom Brocke
The purpose of this paper is to integrate business process management (BPM) and accounting on a conceptual level in order to account for the economic implications of process-state…
Abstract
Purpose
The purpose of this paper is to integrate business process management (BPM) and accounting on a conceptual level in order to account for the economic implications of process-state changes in process design-time and process run-time.
Design/methodology/approach
The paper adopts a design science research paradigm. The research, grounded in an “events” approach to accounting theory, builds on the REA accounting model that has been adapted for the design of a process accounting model (PAM).
Findings
The paper presents a PAM that can be used to structure event records in process-aware information systems (PAIS) to enable process-oriented accounting. The PAM is specified as a light weight data structure that is intended for the integration of PAIS and accounting information systems.
Research limitations/implications
As this paper is technical in nature, more research is needed to evaluate more thoroughly its approach in naturalistic settings.
Practical implications
The PAM can support traditional accounting approaches, and because of the adopted events approach, it readily supports use cases related to real-time analytics in BPM and accounting.
Originality/value
The PAM presents a novel approach to integrating BPM and accounting. The novelty of this approach lies in its use of event records to document flows of economic resources.
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Minh Hue Nguyen, Anh Chi Phan and Yoshiki Matsui
This study seeks to investigate the impact of supply chain integration (SCI) practices on economic performance in Vietnamese enterprises.
Abstract
Purpose
This study seeks to investigate the impact of supply chain integration (SCI) practices on economic performance in Vietnamese enterprises.
Design/methodology/approach
Based on data collected from 144 Vietnamese enterprises, this study employs partial least squares path modeling to analyze the direct and indirect relationships among external integration, information integration, process integration and economic performance.
Findings
Analytical results indicate that of the three SCI practices, external integration has a significant and positive impact on economic performance. Process integration and information integration, on the one hand, reveal insignificant direct impact on economic performance, and on the other, show significant indirect effect on economic performance through external integration.
Originality/value
This study sheds new light on the contribution of SCI to economic performance in developing economies and offers suggestions for not only local management but also foreign investors on the efficient allocation of resources to achieve higher economic performance.
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