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The purpose of this study is to reveal the dynamics of house prices and sales in spatial and temporal dimensions across British regions.
Abstract
Purpose
The purpose of this study is to reveal the dynamics of house prices and sales in spatial and temporal dimensions across British regions.
Design/methodology/approach
This paper incorporates two empirical approaches to describe the behaviour of property prices across British regions. The models are applied to two different data sets. The first empirical approach is to apply the price diffusion model proposed by Holly et al. (2011) to the UK house price index data set. The second empirical approach is to apply a bivariate global vector autoregression model without a time trend to house prices and transaction volumes retrieved from the nationwide building society.
Findings
Identifying shocks to London house prices in the GVAR model, based on the generalized impulse response functions framework, I find some heterogeneity in responses to house price changes; for example, South East England responds stronger than the remaining provincial regions. The main pattern detected in responses and characteristic for each region is the fairly rapid fading of the shock. The spatial-temporal diffusion model demonstrates the presence of a ripple effect: a shock emanating from London is dispersed contemporaneously and spatially to other regions, affecting prices in nondominant regions with a delay.
Originality/value
The main contribution of this work is the betterment in understanding how house price changes move across regions and time within a UK context.
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Zakaria Savon and Abdellah Yousfi
This study aims to review to what extent Islamic banks carry conventional monetary policy impulses. Hence, the authors focus to review on the presence or absence of an Islamic…
Abstract
Purpose
This study aims to review to what extent Islamic banks carry conventional monetary policy impulses. Hence, the authors focus to review on the presence or absence of an Islamic financing channel.
Design/methodology/approach
A systematic approach to the literature review was adopted. The search criterion is confined to empirical studies that examined the transmission of interest-based monetary policy through Islamic banks’ financing, particularly empirical studies that check the existence of an Islamic bank financing channel of conventional monetary policy. By adopting a systematic approach, over 40 empirical papers published in Scopus and Google Scholar were selected for review and analysis to suggest prospects for future analysis in this field.
Findings
The existence of Islamic banks may raise concerns for local central banks, particularly in terms of implementing monetary policies that rely on interest rates. Indeed, the specific nature of the business model of Islamic banks based on the sharing of losses and profits as an alternative to interest rate–based remuneration suggests a priori the non-transmission of monetary policy through these free-interest banks. Despite this, the actual asset structure of Islamic banks may facilitate the transmission of monetary impulses to the economy. Currently, there are limited and inconclusive empirical studies on how Islamic bank financing contributes to the transmission of monetary policy. Additional research is required to fully comprehend the response of Islamic banks to fluctuations in monetary policy interest rates, as well as the factors that impact their reactions.
Originality/value
This literature review is incredibly important as it thoroughly examines a critical issue from both academic and practical perspectives. Analyzing how monetary policy actions can be transmitted through Islamic bank financing is an important task that can provide insights for future research. A straightforward response to this inquiry could assist central banks in formulating effective monetary policy.
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Mohamed Saeudy and Khaled Hussainey
This paper investigates the development of moralised business ideologies (MBIs) amongst sustainable banks as they navigate social and environmental business prospects.
Abstract
Purpose
This paper investigates the development of moralised business ideologies (MBIs) amongst sustainable banks as they navigate social and environmental business prospects.
Design/methodology/approach
Empirical evidence is drawn from top-management-level interviews with 16 UK-based small and medium-sized banks that specialise in financing social and environmental projects.
Findings
MBIs have emerged in the literature review and empirical data analysis as a new concept taken on by sustainable banks with roots closer to sustainability such as ethical practices, moralised values, sustainable business models and ecological standards. The results confirm that MBIs help banking institutions create a more sustained positive impact in terms of social and environmental business opportunities.
Originality/value
This paper offers novel evidence on the intersection between banking and MBIs, with a focus on social, sustainability and environmental considerations.
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This paper aims to revisit the relationship between sales growth and profitability by exploring the direct and indirect effects of cost stickiness in the growth process. Cost…
Abstract
Purpose
This paper aims to revisit the relationship between sales growth and profitability by exploring the direct and indirect effects of cost stickiness in the growth process. Cost stickiness refers to asymmetric variations of costs associated with increases and decreases in sales. Cost stickiness is analyzed as a strategic liability that negatively affects profitability because it contributes to organizational rigidity that causes opportunity costs.
Design/methodology/approach
The empirical design is based on a large sample of 65,599 French firms drawn from the Amadeus database and it covers the period 2010 to 2019. The authors take advantage of the presentation of expenses made by nature in Amadeus to calculate cost stickiness in a more direct way than what is commonly done in the literature. The authors use various regression models to test the hypotheses.
Findings
For firms that experience rapid growth in sales, cost stickiness has a positive moderating effect on the relation between sales growth and profitability because of a higher asset turnover efficiency. However, for firms that experience slow growth, no growth or a decrease in sales, cost stickiness plays a negative moderating effect on the relation between sales and profitability.
Originality/value
This work contributes to the discussion about the conditions under which high growth is associated with greater profitability and conceptualizes cost stickiness as a strategic liability. The empirical context, privately held firms, has been overlooked by previous research.
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Patrícia Moura e Sá, Catarina Frade, Fernanda Jesus, Mónica Lopes, Teresa Maneca Lima and Vitor Raposo
Wicked problems require collaborative innovation approaches. Understanding the problem from the users' perspective is essential. Based on a complex and ill-defined case, the…
Abstract
Purpose
Wicked problems require collaborative innovation approaches. Understanding the problem from the users' perspective is essential. Based on a complex and ill-defined case, the purpose of the current paper is to identify some critical success factors in defining the “right problem” to be addressed.
Design/methodology/approach
An empirical research study was carried out in a low-density municipality (case study). Extensive data were collected from official databases, individual semi-structured interviews and a focus group involving citizens, local authorities, civil servants and other relevant stakeholders.
Findings
As defined by the central government, the problem to be addressed by the research team was to identify which justice services should be made available locally to a small- and low-density community. The problem was initially formulated using top-down reasoning. In-depth contact with citizens and key local players revealed that the lack of justice services was not “the issue” for that community. Mobility constraints and the shortage of economic opportunities had a considerable impact on the lack of demand for justice services. By using a bottom-up perspective, it was possible to reframe the problem to be addressed and suggest a new concept to be tested at later stages.
Social implications
The approach followed called attention to the importance of listening to citizens and local organisations with a profound knowledge of the territory to effectively identify and circumscribe a local problem in the justice field.
Originality/value
The paper highlights the limitations of traditional rational problem-solving approaches and contributes to expanding the voice-of-the-customer principle showing how it can lead to a substantially new definition of the problem to be addressed.
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Stefano Amato, Laura Broccardo and Andrea Tenucci
This study investigates the association between family firm status and the maturity level of management control systems (MCSs) by considering the moderating effect of process…
Abstract
Purpose
This study investigates the association between family firm status and the maturity level of management control systems (MCSs) by considering the moderating effect of process digitalization.
Design/methodology/approach
The authors conducted an empirical analysis on a sample of 106 Italian firms, utilizing both ordinary least squares and ordered logistic regression in this study.
Findings
By resorting to the MCS maturity model proposed by Marx et al. (2012), the empirical findings reveal that family firms do not differ from their nonfamily counterparts regarding MCS maturity. Furthermore, the degree of process digitalization is positively associated with the probability of adopting IT-related technologies in MCSs. Digitalization negatively moderates the relationship between family firm status and MCS maturity, resulting in family firms exhibiting a lower MCS maturity level than their nonfamily counterparts.
Research limitations/implications
Despite similar efforts in the digitalization process, family firms lag behind in the adoption of IT-enabled MCSs, which suggests that reduced agency issues in family firms constrain the MCS maturity level.
Practical implications
This study can assist practitioners in implementing a more mature MCS by considering the interplay between internal digitalization processes and family status of the firm, thereby enhancing the decision-making process.
Originality/value
This study adds novelty to an underexplored area at the intersection of MCSs, family firms and digitalization.
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Indar Fauziah Ulfah, Raditya Sukmana, Nisful Laila and Sulaeman Sulaeman
Green sukuk (Islamic bonds) is one of Islamic financial instrument as an alternative financing source for supporting green finance projects in several sectors such as renewable…
Abstract
Purpose
Green sukuk (Islamic bonds) is one of Islamic financial instrument as an alternative financing source for supporting green finance projects in several sectors such as renewable energy or climate change problems. The aim of study is to present an understanding of the issues, explore the lesson for government policy and identify the potential for future studies directions.
Design/methodology/approach
This study conducted a literature review on green sukuk or Islamic bonds based on eight journal databases. The authors have carried out a strict selection of journals that are only indexed by Scopus and are protected from predatory journals.
Findings
This study has selected 7 of 118 published articles on green topics. This study has found that 50% of green sukuk research is dominated by a theoretical qualitative approach. While research that uses a quantitative or empirical approach is still below 30%, followed by using mixed methods. This study finds that research discusses green sukuk on Sustainable Development Goals (SDGs) or environmental issues, especially climate change, COVID-19 issues and green financial reporting. In addition, in the existing literature, this study found that green sukuk has main advantages instead of green bonds where green sukuk must comply with sharia principles, namely, being free from usury, interest and uncertainty.
Practical implications
This study analyzes two important implications, namely, first, the implications of government policies regarding the potential for issuing green sukuk in supporting all programs on the agenda for the 2030 SDGs, especially controlling and preventing the adverse impacts of global climate change; second, the implications for further research, further researchers can refer to the results of this review to make it easier to find new research things about the relationship of green sukuk with SGDs.
Originality/value
To the best of the authors’ knowledge, this paper is the first review paper that structurally reviews the previous literature on green sukuk (Islamic bonds) based on reputable publisher journals that have been indexed by Scopus.
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Klaudia Jaskula, Dimosthenis Kifokeris, Eleni Papadonikolaki and Dimitrios Rovas
Information management workflow in building information modelling (BIM)-based collaboration is based on using a common data environment (CDE). The basic premise of a CDE is…
Abstract
Purpose
Information management workflow in building information modelling (BIM)-based collaboration is based on using a common data environment (CDE). The basic premise of a CDE is exposing all relevant data as a single source of truth and facilitating continuous collaboration between stakeholders. A multitude of tools can be used as a CDE, however, it is not clear how the tools are used or if they fulfil the users’ needs. Therefore, this paper aims to investigate current practices of using CDEs for information management during the whole built asset’s life cycle, through a state-of-the-art literature review and an empirical study.
Design/methodology/approach
Literature data is collected according to the PRISMA 2020 guideline for reporting systematic reviews. This paper includes 46 documents in the review and conduct a bibliometric and thematic analysis to identify the main challenges of digital information management. To understand the current practice and the views of the stakeholders using CDEs in their work, this paper used an empirical approach including semi-structured interviews with 15 BIM experts.
Findings
The results indicate that one of the major challenges of CDE adoption is project complexity and using multiple CDEs simultaneously leading to data accountability, transparency and reliability issues. To tackle those challenges, the use of novel technologies in CDE development such as blockchain could be further investigated.
Originality/value
The research explores the major challenges in the practical implementation of CDEs for information management. To the best of the authors’ knowledge, this is the first study on this topic combining a systematic literature review and fieldwork.
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Gayane Sedrakyan, Simone Borsci, Asad Abdi, Stéphanie M. van den Berg, Bernard P. Veldkamp and Jos van Hillegersberg
This research aims to explore digital feedback needs/preferences in online education during lockdown and the implications for post-pandemic education.
Abstract
Purpose
This research aims to explore digital feedback needs/preferences in online education during lockdown and the implications for post-pandemic education.
Design/methodology/approach
An empirical study approach was used to explore feedback needs and experiences from educational institutions in the Netherlands and Germany (N = 247) using a survey method.
Findings
The results showed that instruments supporting features for effortless interactivity are among the highly preferred options for giving/receiving feedback in online/hybrid classrooms, which are in addition also opted for post-pandemic education. The analysis also showed that, when communicating feedback digitally, more inclusive formats are preferred, e.g. informing learners about how they perform compared to peers. The increased need for comparative performance-oriented feedback, however, may affect students' goal orientations. In general, the results of this study suggest that while interactivity features of online instruments are key to ensuring social presence when using digital forms of feedback, balancing online with offline approaches should be recommended.
Originality/value
This research contributes to the gap in the scientific literature on feedback digitalization. Most of the existing research are in the domain of automated feedback generated by various learning environments, while literature on digital feedback in online classrooms, e.g. empirical studies on preferences for typology, formats and communication channels for digital feedback, to the best of the authors’ knowledge is largely lacking. The findings and recommendations of this study extend their relevance to post-pandemic education for which hybrid classroom is opted among the highly preferred formats by survey respondents.
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Wajiha Mohsin Shahzad, Siddenki Mahender Reddy, Ravindu Kahandawa and James Olabode Bamidele Rotimi
The ascendancy of modular offsite construction (MOSC) over traditional construction methods is well known. Despite the known potential of this construction approach, its adoption…
Abstract
Purpose
The ascendancy of modular offsite construction (MOSC) over traditional construction methods is well known. Despite the known potential of this construction approach, its adoption is minimal in New Zealand construction industry. This article investigates the potential benefits of using MOSC for delivery of high-rise buildings in New Zealand, underlying factors responsible for its low uptake and the measures that can facilitate its improved uptake.
Design/methodology/approach
This study utilised a mixed research approach. An empirical questionnaire survey was carried out with New Zealand construction industry professionals with expertise in MOSC. Factor analysis of survey data was carried out using SPSS software. Semi-structured interviews were carried out with subject matter experts to get further insights and expand the survey findings. Interview data were analysed using thematic analysis.
Findings
Study identified benefits of MOSC, thus establishing potential of its uptake for high-rise building construction. Constraining factors were investigated, most pronounced being low level of skills in construction industry to design, manufacture and integrate supply chain of MOSC, high initial investment, high cost of importing modules and negative perception about offsite manufactured buildings. This study also highlighted the enablers to improve uptake of MOSC. These enablers included; loan and mortgage policies to suit MOSC paradigm, building regulations to support OSC industry, increased support from the government and awareness and acceptance of standardised building designs among the clients.
Originality/value
Originality of this paper harps from little to no research carried out to investigate use of MOSC for high-rise buildings in New Zealand context.
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