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Article
Publication date: 10 June 2019

Zahra Ahmadi

The purpose of this paper is to examine how external factors moderate public housing companies’ (PHCs) market orientation (MO) and strategic performance (SP) relationship.

Abstract

Purpose

The purpose of this paper is to examine how external factors moderate public housing companies’ (PHCs) market orientation (MO) and strategic performance (SP) relationship.

Design/methodology/approach

The quantitative method is applied to data from a survey sent to 289 PHCs in Sweden.

Findings

The results reveal moderating factors. The companies take several initiatives to inform themselves about customers’ needs and distribute the information within the company, but economic conditions, market and technological turbulence in the municipalities moderate the relationship between MO and SP. Economic conditions make it difficult for PHCs to strategically act based on market needs when making decisions and planning construction strategies (SP).

Research limitations/implications

This study is limited by focusing on PHCs, a sector that differs radically from the open market. The study highlights the effects of moderating factors that are important for companies’ SP and long-term construction strategies. From this limited focus, researchers might use the results to compare both similar and different market situations.

Practical implications

The results of the study are useful for companies facing a similar market situation of external moderating constraints. The result might be used in future research related to the area in focus.

Originality/value

This research adds new knowledge to market research by including the impact of economic conditions, which provides insight into how to develop and use market knowledge in real estate and public housing markets.

Details

Baltic Journal of Management, vol. 14 no. 4
Type: Research Article
ISSN: 1746-5265

Keywords

Article
Publication date: 1 May 1997

Anghel N. Rugina

The equation of unified knowledge says that S = f (A,P) which means that the practical solution to a given problem is a function of the existing, empirical, actual…

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Abstract

The equation of unified knowledge says that S = f (A,P) which means that the practical solution to a given problem is a function of the existing, empirical, actual realities and the future, potential, best possible conditions of general stable equilibrium which both pure and practical reason, exhaustive in the Kantian sense, show as being within the realm of potential realities beyond any doubt. The first classical revolution in economic thinking, included in factor “P” of the equation, conceived the economic and financial problems in terms of a model of ideal conditions of stable equilibrium but neglected the full consideration of the existing, actual conditions. That is the main reason why, in the end, it failed. The second modern revolution, included in factor “A” of the equation, conceived the economic and financial problems in terms of the existing, actual conditions, usually in disequilibrium or unstable equilibrium (in case of stagnation) and neglected the sense of right direction expressed in factor “P” or the realization of general, stable equilibrium. That is the main reason why the modern revolution failed in the past and is failing in front of our eyes in the present. The equation of unified knowledge, perceived as a sui generis synthesis between classical and modern thinking has been applied rigorously and systematically in writing the enclosed American‐British economic, monetary, financial and social stabilization plans. In the final analysis, a new economic philosophy, based on a synthesis between classical and modern thinking, called here the new economics of unified knowledge, is applied to solve the malaise of the twentieth century which resulted from a confusion between thinking in terms of stable equilibrium on the one hand and disequilibrium or unstable equilibrium on the other.

Details

International Journal of Social Economics, vol. 24 no. 5
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 27 June 2022

Ammad Ahmed, Sumit Dhull and Richard Kent

The purpose of this study is to examine the association between non-audit service fees provided by the auditor and auditor independence in stable and unstable economic

Abstract

Purpose

The purpose of this study is to examine the association between non-audit service fees provided by the auditor and auditor independence in stable and unstable economic conditions. Further, this study investigates whether client importance impairs auditor independence in two different Australian economic environments.

Design/methodology/approach

This study focuses on financially distressed firms listed on the Australian Stock Exchange from 2005 to 2014. The data is obtained from SIRCA and the Morning Star databases. The probit method is used as a baseline regression model, the two-stage least squares and the sensitivity of control variable tests are used to control for any endogeneity and self-selection bias concerns.

Findings

This study shows that in stable economic conditions, non-audit service fees provided by auditors impair auditor independence. This suggests that economic bonding between auditor and client serves as a threat to the auditor’s independence, perhaps because of the importance given to the larger clients. In contrast, the authors find no association between non-audit service fees and auditor independence in unstable (highly regulated) economic conditions largely because of higher litigation risk. The results of this study are robust to alternative model specifications and endogeneity concerns.

Practical implications

This study provides an important implication to regulators that macro-economic conditions influence the strength of incentives related to non-audit services for auditors. Furthermore, this study enhances the understanding of regulators (Australian Security Investment Commission) and the strategies adopted by Australian auditors in response to economic incentives and market-based incentives.

Originality/value

The authors contribute to the existing literature by providing evidence that there is a tradeoff between market-based incentives (i.e. lower litigation costs) and economic incentives (i.e. non-audit services fees) with economic uncertainty influencing the importance of these incentives to auditors.

Details

Managerial Auditing Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0268-6902

Keywords

Article
Publication date: 7 November 2016

Rexford Abaidoo and Florence Ellis

This study aims to explore potential paradigm shift in how “global economies” react to adverse macroeconomic conditions from key dominant economies such as the US and the…

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Abstract

Purpose

This study aims to explore potential paradigm shift in how “global economies” react to adverse macroeconomic conditions from key dominant economies such as the US and the Chinese economies. This is done by examining how economic activities within key economies around the world react to, or are impacted by, modeled adverse macroeconomic condition emanating from the Chinese and the US economies.

Design/methodology/approach

To verify potential paradigm shift in how external macroeconomic uncertainty impacts “global” industrial productivity and overall gross domestic product (GDP) growth within selected economies, this study opts for seemingly unrelated regression (SUR) model. Adoption of this method has been influenced by the potential for correlated error terms between modeled adverse macroeconomic condition, industrial productivity and GDP growth variables being tested in a two-equation system.

Findings

Empirical results based on SUR analysis find no evidence of this potential paradigm shift within the time frame examined in the study. Estimated results suggest that notwithstanding the recent growth surge of the Chinese economy, macroeconomic happenings within the US economy still exert significantly more influence on key economies around the world. For instance, this study finds that macroeconomic uncertainty associated with the US economy significantly constrains both industrial productivity and overall GDP growth within most of the economies tested, whereas the same condition emanating from the Chinese economy seems to rather have a weak positive impact on the same macroeconomic variables.

Research limitations/implications

Research results are strictly limited to the focus time frame for this study; it is likely that expanded data involving more years beyond what was analyzed in this study could yield different results.

Originality/value

This study is an original research based on data from a reputable US federal institution.

Details

Journal of Financial Economic Policy, vol. 8 no. 4
Type: Research Article
ISSN: 1757-6385

Keywords

Article
Publication date: 1 August 2016

Rexford Abaidoo

This paper aims to augment existing literature by examining how specific macroeconomic conditions (economic policy uncertainty and inflation expectations) influence…

Abstract

Purpose

This paper aims to augment existing literature by examining how specific macroeconomic conditions (economic policy uncertainty and inflation expectations) influence micro-level (instead of macro-level) behavioral dynamics exhibited by the average consumer.

Design/methodology/approach

This study conducted empirical analysis using structural vector autoregressive estimation technique.

Findings

The average consumer tends to exhibit significantly varied micro-level expenditure behavioral patterns not readily observed at the macro- or aggregate-level expenditures. For instance, this study finds that in the short run, inflation expectations tend to have a significant positive impact on both non-durable goods and service expenditures; the same condition, however, tends to have a negative impact on durable goods. Additionally, this study also finds that economic policy uncertainty, unlike inflation expectations, tends to constrain consumption expenditures at all micro levels with very significant variations in decline in expenditures made.

Originality/value

Unlike legion of empirical work based on macro-level analysis, this study adopts a micro-level analysis and also engages two macroeconomic conditions (inflation expectations and economic policy uncertainty) not already examined in existing studies.

Details

Journal of Financial Economic Policy, vol. 8 no. 3
Type: Research Article
ISSN: 1757-6385

Keywords

Article
Publication date: 1 April 1983

Anghel N. Rugina

Whenever capitalism in the West appears to be dragging with unresolved problems, then quite a few people, including professional economists, begin to think that perhaps…

Abstract

Whenever capitalism in the West appears to be dragging with unresolved problems, then quite a few people, including professional economists, begin to think that perhaps socialism is a better alternative. Conversely, in the East even a larger number of people, including economists (who are not activists), seriously believe that in view of their shortages and meagre incomes capitalism would be a better alternative.

Details

International Journal of Social Economics, vol. 10 no. 4
Type: Research Article
ISSN: 0306-8293

Article
Publication date: 1 March 1990

Eileen Drew

The subject of part‐time work is one which has become increasingly important in industrialised economies where it accounts for a substantial and growing proportion of…

Abstract

The subject of part‐time work is one which has become increasingly important in industrialised economies where it accounts for a substantial and growing proportion of total employment. It is estimated that in 1970, average annual hours worked per employee amounted to only 60% of those for 1870. Two major factors are attributed to explaining the underlying trend towards a reduction in working time: (a) the increase in the number of voluntary part‐time employees and (b) the decrease in average annual number of days worked per employee (Kok and de Neubourg, 1986). The authors noted that the growth rate of part‐time employment in many countries was greater than the corresponding rate of growth in full‐time employment.

Details

Equal Opportunities International, vol. 9 no. 3/4/5
Type: Research Article
ISSN: 0261-0159

Article
Publication date: 20 August 2018

Rexford Abaidoo

The purpose of this paper is to examine how specific macroeconomic indicators and conditions impact short- and long-run loan delinquency rates among US commercial banks…

Abstract

Purpose

The purpose of this paper is to examine how specific macroeconomic indicators and conditions impact short- and long-run loan delinquency rates among US commercial banks under various economic episodes.

Design/methodology/approach

The study employs an autoregressive distributed lag framework (ARDL) and error correction model in its examination of how loan delinquency rates are impacted by specific macroeconomic variables and conditions.

Findings

This study finds that in both the short and long run, a percentage growth in macroeconomic indicators, such as industrial productivity and private domestic investments, reduces loan delinquency rates among commercial banks, given all things being equal. Additionally, this study also finds that adverse macroeconomic conditions, such as inflation, economic policy uncertainty and volatility, associated with specific macroeconomic variables, such as investment growth, etc., tend to worsen loan delinquency rates. Empirical results further suggest that among the various macroeconomic conditions examined, inflationary pressures tend to have the most significant heightening impact on loan delinquency rates among commercial banks.

Originality/value

The uniqueness of this study, compared to similar studies found in the literature, has to do with its verification of potential association between loan delinquency rates and specific hitherto unexamined macroeconomic conditions. Compared to similar studies on loan delinquency, this study collectively examines how conditions of uncertainty, volatility and expectations of macroeconomic conditions shape loan delinquency rates among commercial banks.

Details

American Journal of Business, vol. 33 no. 3
Type: Research Article
ISSN: 1935-5181

Keywords

Book part
Publication date: 3 December 2005

Harry F. Dahms

For sociological perspectives on globalization to do justice to its many facets, they must be informed by an understanding of modern societies as simultaneously complex…

Abstract

For sociological perspectives on globalization to do justice to its many facets, they must be informed by an understanding of modern societies as simultaneously complex, contingent, and contradictory – as modern capitalist societies. As is becoming ever more apparent, such an understanding of modern societies is the necessary precondition for identifying the defining features of globalization. Yet, for the most part, the history of the social sciences did not produce research agendas, theories, and methods designed to grasp complexity, contingency, and contradiction as core dimensions of modern social life that continually reinforce each other. The social sciences did not evolve as ongoing efforts to grasp the gravity each dimension exerts on concrete forms of political, economic and cultural life, and how the force of each depends on the constant exchange of energy with the other two. To the extent that scrutinizing the impact of globalization on the future – and possible futures – of human civilization is the primary challenge for social scientists to confront today, the current condition presents a unique, and perhaps most unusual opportunity to conceive anew the promise of each and all the social sciences, as elucidating how the complex, contingent, and contradictory nature of modern societies, in the name of advancing social justice, has engendered a regime of managing “social problems.”

Details

Social Theory as Politics in Knowledge
Type: Book
ISBN: 978-1-84950-363-1

Book part
Publication date: 20 May 2011

Harry F. Dahms

For perspectives on globalization to do justice to its many facets, they must be informed by an understanding of modern societies as simultaneously complex, contingent…

Abstract

For perspectives on globalization to do justice to its many facets, they must be informed by an understanding of modern societies as simultaneously complex, contingent, and contradictory – as modern capitalist societies. As is becoming ever more apparent, such an understanding of modern societies is the necessary precondition for identifying the defining features of globalization. Yet, for the most part, the history of the social sciences did not produce research agendas, theories, and methods designed to grasp complexity, contingency, and contradiction as core dimensions of modern social life that continually reinforce each other. The social sciences did not evolve as ongoing efforts to grasp the gravity each dimension exerts on concrete forms of political, economic, and cultural life, and how the force of each depends on the constant exchange of energy with the other two. To the extent that scrutinizing the impact of globalization on the future – find possible futures – of human civilization is the primary challenge for social scientists to confront today, the current condition presents a unique, and perhaps most unusual opportunity to conceive anew the promise of each and all the social sciences, as elucidating how the complex, contingent, and contradictory nature of modern societies, in the name of advancing social justice, has engendered a regime of managing “social problems.”

Details

The Vitality Of Critical Theory
Type: Book
ISBN: 978-0-85724-798-8

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