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Article
Publication date: 24 January 2022

Muhammad Ayat, Sheheryar Mohsin Qureshi and Changwook Kang

The purpose of this study is to propose an improved framework for managing Private Participation in Infrastructure ICT (PPI-ICT) projects in the context of developing countries as…

Abstract

Purpose

The purpose of this study is to propose an improved framework for managing Private Participation in Infrastructure ICT (PPI-ICT) projects in the context of developing countries as the requirements to manage them are different in several aspects.

Design/methodology/approach

The framework has been proposed based on an exhaustive literature review and statistical analysis of the PPI-ICT projects’ data set using logistic regression, F-test and student’s t-test. The proposed framework was also applied to the PPI-ICT projects.

Findings

The framework is an extension to NTCP (novelty, technology, complexity and pace) approach by including extrinsic factors such as income of the country, climate risk, religious diversity, political stability, regularity quality and control of corruption. The proposed framework was used to analyze project characteristics and their external conditions in the context of developing countries. Based on the analyses, the authors have presented a detailed set of recommendations for project managers, practitioners and governments to improve the success rate of these projects.

Originality/value

The major contribution of this study is the framework, which encompasses the NTCP model as well as extrinsic characteristics of PPI-ICT projects. The proposed framework is meant to assist the project managers to comprehend the project characteristics and its external environment to identify an adequate approach for managing projects successfully.

Details

Journal of Engineering, Design and Technology , vol. 22 no. 2
Type: Research Article
ISSN: 1726-0531

Keywords

Article
Publication date: 4 December 2023

Mai T. Said and Mona A. ElBannan

The purpose of this study is to examine the impact of firm environmental, social and governance (ESG) rating scores on market perception and stock behavior from 2017 to 2021 while…

Abstract

Purpose

The purpose of this study is to examine the impact of firm environmental, social and governance (ESG) rating scores on market perception and stock behavior from 2017 to 2021 while controlling for COVID-19 severity score.

Design/methodology/approach

The authors used panel regression models with robust standard errors based on cross-country and cross-industry sample of 1,324 ESG firms from 25 emerging countries across four regions. Four separate regression analyses are used. Hausman test is used to determine whether fixed-effect (FE) or random-effect approaches should be used in regression models. Lagrange multiplier test is used to test for time FEs, and F-test for individual effects to choose between pooled ordinary least squares model and FE. Two-unit root tests are conducted to check stationarity. Heteroskedasticity and serial correlation were controlled through a robust covariance matrix estimation.

Findings

The authors provide evidence that the stakeholder theory persists in emerging countries. Overall, the results suggest that firms’ stock behavior is positively associated with the level of environmental and social performance in the region. However, the results do not provide empirical evidence to support the link between ESG performance and stock market perception proxied by the price-to-sales ratio. The results suggest that Refinitiv and Bloomberg ESG rating scores have a positive impact on stock performance in emerging markets, albeit the Bloomberg rating score is insignificant.

Practical implications

Favorable impact of environmental and social performance on stock performance suggests that policymakers should take initiatives to raise awareness toward investments in ESG projects. Evidence shows that ESG stock performance in emerging markets does not insulate firms from the COVID-19 severity. Furthermore, this study highlights the inconsistency in calculating the ESG ratings, therefore, a more standardized approach is recommended to support investors seeking sustainable investments.

Social implications

The findings have social implications for investors with proenvironmental preferences and nonpecuniary motives for ethical investments. Asset fund managers should develop ESG investment strategies to promote investor preferences that are linked to the proenvironmental and prosocial attitudes by increasing their investments in stocks of firms that behave ethically and support the environment. Furthermore, the findings show that investors pay a price for ethical and socially responsible investments as they are evaluating the environmental and social activities, hence, the firm ESG profile influences equity valuation and risk assessment.

Originality/value

The study extends the literature and provides evidence from the unique setting of emerging markets by analyzing the relationship between ESG rating scores and the COVID-19 severity scores on one hand, and stock behavior and market perception on the other.

Details

Review of Accounting and Finance, vol. 23 no. 2
Type: Research Article
ISSN: 1475-7702

Keywords

Article
Publication date: 4 July 2023

Yuping Xing and Yongzhao Zhan

For ranking aggregation in crowdsourcing task, the key issue is how to select the optimal working group with a given number of workers to optimize the performance of their…

Abstract

Purpose

For ranking aggregation in crowdsourcing task, the key issue is how to select the optimal working group with a given number of workers to optimize the performance of their aggregation. Performance prediction for ranking aggregation can solve this issue effectively. However, the performance prediction effect for ranking aggregation varies greatly due to the different influencing factors selected. Although questions on why and how data fusion methods perform well have been thoroughly discussed in the past, there is a lack of insight about how to select influencing factors to predict the performance and how much can be improved of.

Design/methodology/approach

In this paper, performance prediction of multivariable linear regression based on the optimal influencing factors for ranking aggregation in crowdsourcing task is studied. An influencing factor optimization selection method based on stepwise regression (IFOS-SR) is proposed to screen the optimal influencing factors. A working group selection model based on the optimal influencing factors is built to select the optimal working group with a given number of workers.

Findings

The proposed approach can identify the optimal influencing factors of ranking aggregation, predict the aggregation performance more accurately than the state-of-the-art methods and select the optimal working group with a given number of workers.

Originality/value

To find out under which condition data fusion method may lead to performance improvement for ranking aggregation in crowdsourcing task, the optimal influencing factors are identified by the IFOS-SR method. This paper presents an analysis of the behavior of the linear combination method and the CombSUM method based on the optimal influencing factors, and optimizes the task assignment with a given number of workers by the optimal working group selection method.

Details

Data Technologies and Applications, vol. 58 no. 2
Type: Research Article
ISSN: 2514-9288

Keywords

Article
Publication date: 15 December 2023

Ugwunwa Esse and Yacob- Haliso

This study aims to investigate the facilitating conditions (FCs) and how these FC affect institutional repository (IR) sustainability practices in public universities in Nigeria.

Abstract

Purpose

This study aims to investigate the facilitating conditions (FCs) and how these FC affect institutional repository (IR) sustainability practices in public universities in Nigeria.

Design/methodology/approach

A survey research design was adopted in this study. The study population comprised 542 librarians from public universities that have IRs across Nigeria. A sample size of 230 librarians was determined using Taro Yamane’s formula. A multi-stage sampling technique was used to select the respondents in three stages, which were purposive, stratified and purposive sampling. A structured, validated questionnaire was used for data collection. Data were analyzed using descriptive and inferential (simple and multiple regression) statistics at a 5% level of significance.

Findings

The result revealed that the availability of FCs (ßeta = 0.459, t(211) = 7.719, p = 0.000) has a positive and significant influence on IR sustainability in public university libraries in Nigeria. The F-test (1, 223) value of 59.582 shows that there is sufficient evidence to substantiate the model’s usefulness in explaining IR sustainability. The R2 (0.211) indicates that 21.1% of the variation in IR sustainability is explained by the availability of FCs in public university libraries in Nigeria. The finding suggests that the availability of FCs is a vital predictor of IR sustainability in public university libraries in Nigeria. The result also depicts that out of the eight parameters that measure the availability of FCs, it was current awareness of IR that had a positive and significant influence on IR sustainability.

Originality/value

This study concluded that ICT skills and FCs are contributory factors to IR sustainability practices by librarians in public university libraries in Nigeria. It was recommended that university administrators formulate policies that promote the sustainability of IR and provide adequate funds to support IR sustainability. Furthermore, the library management in public university libraries in Nigeria should drive content recruitment and create awareness of the IRs among students and faculty to ensure continued use.

Details

Digital Library Perspectives, vol. 40 no. 1
Type: Research Article
ISSN: 2059-5816

Keywords

Article
Publication date: 23 April 2024

Abdullah S. Karaman, Ali Uyar, Rim Boussaada and Majdi Karmani

Prior studies mostly tested the association between carbon emissions and firm value in certain contexts. This study aims to advance the existing literature by concentrating on…

Abstract

Purpose

Prior studies mostly tested the association between carbon emissions and firm value in certain contexts. This study aims to advance the existing literature by concentrating on three indicators of greening in corporations namely resource use, emissions and eco-innovation, and examining their value relevance in the stock market at the global level. Furthermore, we deepen the investigation by exploring the moderating role of eco-innovation and the CSR committee between greening in corporations and market value.

Design/methodology/approach

The data for the study were retrieved from the Thomson Reuters Eikon database for the years between 2002 and 2019 and contain 17,961 firm-year observations which are analyzed through fixed-effects regression.

Findings

The results reveal that while resource usage is viewed as value-relevant by the market, the emissions and eco-innovation are not. However, despite eco-innovation per se not being value-relevant, its interaction with resource usage and emissions is value-relevant. Furthermore, CSR committees undertake a very critical role in translating greening practices into market value.

Research limitations/implications

While the results for emissions support the cost-concerned school, the findings for resource usage confirm the value creation school. Furthermore, the interaction effect of eco-innovation and CSR committee confirms the resource-based theory and stakeholder theory, respectively.

Practical implications

Investors regard eco-innovation-induced pro-environmental behaviors as value-relevant. These results propose firms replace eco-innovation at the focal point in developing environmental strategies and connecting other greening efforts to it. Moreover, CSR committees are critical to corporations in translating greening practices into firm value by developing and implementing disclosure and communication strategies.

Originality/value

The study’s originality stems from investigating the synergetic effect that eco-innovation and CSR committees generate in translating greening practices to greater market value at a global scale.

Details

Journal of Applied Accounting Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0967-5426

Keywords

Open Access
Article
Publication date: 14 March 2024

Ivan D. Trofimov

In this paper we examine the validity of the J-curve hypothesis in four Southeast Asian economies (Indonesia, Malaysia, the Philippines and Thailand) over the 1980–2017 period.

Abstract

Purpose

In this paper we examine the validity of the J-curve hypothesis in four Southeast Asian economies (Indonesia, Malaysia, the Philippines and Thailand) over the 1980–2017 period.

Design/methodology/approach

We employ the linear autoregressive distributed lags (ARDL) model that captures the dynamic relationships between the variables and additionally use the nonlinear ARDL model that considers the asymmetric effects of the real exchange rate changes.

Findings

The estimated models were diagnostically sound, and the variables were found to be cointegrated. However, with the exception of Malaysia, the short- and long-run relationships did not attest to the presence of the J-curve effect. The trade flows were affected asymmetrically in Malaysia and the Philippines, suggesting the appropriateness of nonlinear ARDL in these countries.

Originality/value

The previous research tended to examine the effects of the real exchange rate changes on the agricultural trade balance and specifically the J-curve effect (deterioration of the trade balance followed by its improvement) in the developed economies and rarely in the developing ones. In this paper, we address this omission.

Details

Review of Economics and Political Science, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2356-9980

Keywords

Book part
Publication date: 4 April 2024

De-Wai Chou, Pi-Hsia Hung and Lin Lin

This study focuses on listed and over-the-counter (OTC) companies in the Taiwan Stock Exchange. It found that an increase in the ownership proportion of institutional investors…

Abstract

This study focuses on listed and over-the-counter (OTC) companies in the Taiwan Stock Exchange. It found that an increase in the ownership proportion of institutional investors (INs), including foreign investors, investment trusts, and dealers can enhance the informativeness of stock prices. The relationship between these factors follows an inverted U-shaped pattern, indicating that excessively high ownership ratios can actually lead to a decrease in the informativeness of stock prices. Additionally, increasing the ownership proportions of foreign investors and investment trusts can reduce the risk of stock price collapse, while dealers show no significant relationship in this regard. This study also reveals that the technical variable of the price deviation rate is an important explanatory factor for post-collapse returns. It is positively correlated with the magnitude of the price decline after a collapse, meaning that stocks with weaker pre-collapse performance experience larger post-collapse declines. When the data during the 2020 pandemic period are excluded, changes in foreign ownership ratios show a significant positive correlation with postcrash returns in both the long and short term. The significant correlation in the short term may be due to a high proportion of foreign ownership. Any reduction in this could put pressure on stock prices, and retail investors may follow suit and sell-off, using foreign investors as a reference. The significant correlation in the long term might be due to foreign investors themselves possibly also trying to avoid the pressure that their own short-term sell-offs could exert on stock prices. The changes in the ownership ratios of investment trusts and dealers indicate that medium and long-term changes have a significant impact on postcrash returns, while the changes in the major players' ownership show no significant correlation. When data from 2020 are included in the analysis, the significance of all INs decreases.

Details

Advances in Pacific Basin Business, Economics and Finance
Type: Book
ISBN: 978-1-83753-865-2

Keywords

Open Access
Article
Publication date: 12 April 2024

Abbas Ali Chandio, Huaquan Zhang, Waqar Akram, Narayan Sethi and Fayyaz Ahmad

This study aims to examine the effects of climate change and agricultural technologies on crop production in Vietnam for the period 1990–2018.

Abstract

Purpose

This study aims to examine the effects of climate change and agricultural technologies on crop production in Vietnam for the period 1990–2018.

Design/methodology/approach

Several econometric techniques – such as the augmented Dickey–Fuller, Phillips–Perron, the autoregressive distributed lag (ARDL) bounds test, variance decomposition method (VDM) and impulse response function (IRF) are used for the empirical analysis.

Findings

The results of the ARDL bounds test confirm the significant dynamic relationship among the variables under consideration, with a significance level of 1%. The primary findings indicate that the average annual temperature exerts a negative influence on crop yield, both in the short term and in the long term. The utilization of fertilizer has been found to augment crop productivity, whereas the application of pesticides has demonstrated the potential to raise crop production in the short term. Moreover, both the expansion of cultivated land and the utilization of energy resources have played significant roles in enhancing agricultural output across both in the short term and in the long term. Furthermore, the robustness outcomes also validate the statistical importance of the factors examined in the context of Vietnam.

Research limitations/implications

This study provides persuasive evidence for policymakers to emphasize advancements in intensive agriculture as a means to mitigate the impacts of climate change. In the research, the authors use average annual temperature as a surrogate measure for climate change, while using fertilizer and pesticide usage as surrogate indicators for agricultural technologies. Future research can concentrate on the impact of ICT, climate change (specifically pertaining to maximum temperature, minimum temperature and precipitation), and agricultural technological improvements that have an impact on cereal production.

Originality/value

To the best of the authors’ knowledge, this study is the first to examine how climate change and technology effect crop output in Vietnam from 1990 to 2018. Various econometrics tools, such as ARDL modeling, VDM and IRF, are used for estimation.

Details

International Journal of Climate Change Strategies and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1756-8692

Keywords

Article
Publication date: 3 April 2024

Chao-chao Liu, Miao Wang, Zhanwen Niu and Xun Mo

The view that dynamic capabilities theory can help explain how lean organizations improve has been put forward by scholars. However, there is still a lack of research on the…

Abstract

Purpose

The view that dynamic capabilities theory can help explain how lean organizations improve has been put forward by scholars. However, there is still a lack of research on the matching relationship between the application of lean practice and the internal elements of enterprise organization from the perspective of dynamic capabilities. The purpose of this study is to validate the moderating effect of dynamic capabilities on the relationship between lean practices and operational performance.

Design/methodology/approach

This study used the method of survey and empirical research to collect sample data from 263 enterprises in China. Through literature review, this study put forward the moderating hypotheses around dynamic capabilities, lean practices and operation performance and used the method of regression analysis to validate these hypotheses.

Findings

The results showed that dynamic capabilities have a partially moderating effect on the application of lean practices. Specifically, dynamic capabilities have a significant moderating effect on the relationship between just-in-time, total quality management, total preventive maintenance and operational performance, while dynamic capabilities have no significant moderating effect on the relationship between human resource management and operational performance.

Originality/value

The research conclusion complements and enriches the lean practices literature from the perspective of dynamic capabilities. Existing studies mainly focus on the moderating role of external environmental factors, while there is a lack of empirical research on the role of dynamic capabilities in lean practices literature. The research results will help enterprises further understand the matching relationship between lean practices and dynamic capabilities and then improve the success of lean practices application.

Details

International Journal of Lean Six Sigma, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-4166

Keywords

Article
Publication date: 30 January 2024

Ting-Ting Sun and Chi Wei Su

The study investigates the inter-linkages between geopolitical risk (GPR) and food price (FP).

Abstract

Purpose

The study investigates the inter-linkages between geopolitical risk (GPR) and food price (FP).

Design/methodology/approach

By employing the bootstrap full- and sub-sample rolling-window Granger causality tests.

Findings

The empirical results show that there is a time-varying bidirectional causality between GPR and FP. High GPR leads to a rise in FP, suggesting that geopolitical events usually may disrupt supply and demand conditions in food markets, and even trigger global food crises. However, the negative effect of GPR on FP does not support this view in certain periods. This is mainly because GPR is also related to the global economic situation and oil price, which together have impacts on the food market. These results cannot always be supported by the inter-temporal capital asset pricing model, which states that GPR affects FP in a positive manner. Conversely, there is a positive impact of FP on GPR, indicating that the food market is an effective tool that can reflect global geopolitical environment.

Originality/value

In the context of the Russia–Ukraine conflict, these analyses can assist investors and policymakers to understand the sensitivity of FP to GPR. Also, it will provide significant revelations for governments to attach importance to the role of food price information in predicting geopolitical events, thus contributing to a more stable international environment.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

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