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This study examined how economic freedom and its related components, such as open markets, regulatory efficiency, rule of law and the size of government, affect bank risk behavior, focusing on the Japanese context.

The study employs a two-step GMM framework on the annual data of Japanese banks ranging from 2005 to 2020 to empirically test the hypotheses. Furthermore, we also use the ordinary least square method to ensure the robustness of our mainline findings.

The finding suggests that economic freedom increases the banks' risk-taking, thus making them fragile. The results also highlight that out of the four main subcomponents of economic freedom, regulatory efficiency and government size increase bank risk-taking, while the rule of law and open markets decrease banks' risk-taking. Additionally, we examine how the banks' specific characteristics affect the results by creating a subsample based on capitalization and liquidity ratios. Overall, the results are consistent with the baseline findings. Moreover, the results are robust to alternative proxy measures of risk.

The study's findings have several implications for regulators and policymakers. The results suggest that regulators and policymakers should reconsider their strategies for economic freedom to ensure that they promote stability in the banking system and reduce banks' risk-taking inclinations.

Although previous studies have examined the impact of economic freedom on bank stability and risk-taking, this study is the first to do so in the Japanese context, contributing to the literature by providing new insights and empirical evidence.

This study explores the relationship between economic freedom and gender ideologies on the allocation of women’s opportunity-to-necessity entrepreneurship across countries. Opportunity entrepreneurship is typically understood as one’s best option for work, whereas necessity entrepreneurship describes the choice as driven by no better option for work. Specifically, we examine how economic freedom (i.e. each country’s policies that facilitate voluntary exchange) and gender ideologies (i.e. each country’s propensity for gendered separate spheres) affect the distribution of women’s opportunity-to-necessity entrepreneurship across countries.

We construct our sample by matching data from the following country-level sources: the Global Entrepreneurship Monitor’s Adult Population Survey (APS), the Fraser Institute’s Economic Freedom Index (EFI), the European/World Value Survey’s Integrated Values Survey (IVS) gender equality index, and other covariates from the IVS, Varieties of Democracy (V-dem) World Bank (WB) databases. Our final sample consists of 729 observations from 109 countries between 2006 and 2018. Entrepreneurial activity motivations are measured by the ratio of the percentage of women’s opportunity-driven total nascent and early-stage entrepreneurship to the percentage of female necessity-driven total nascent and early-stage entrepreneurship at the country level. Due to a first-order autoregressive process and heteroskedastic cross-sectional dependence in our panel, we estimate a fixed-effect regression with robust standard errors clustered by country.

After controlling for multiple macro-level factors, we find two interesting findings. First, economic freedom positively affects the ratio of women’s opportunity-to-necessity entrepreneurship. We find that the size of government, sound money, and business and credit regulations play the most important role in shaping the distribution of contextual motivations over time and between countries. However, this effect appears to benefit efficiency and innovation economies more than factor economies in our sub-sample analysis. Second, gender ideologies of political equality positively affect the ratio of women’s opportunity-to-necessity entrepreneurship, and this effect is most pronounced for efficiency economies.

This study offers one critical contribution to the entrepreneurship literature by demonstrating how economic freedom and gender ideologies shape the distribution of contextual motivation for women’s entrepreneurship cross-culturally. We answer calls to better understand the variation within women’s entrepreneurship instead of comparing women’s and men’s entrepreneurial activity. As a result, our study sheds light on how structural aspects of societies shape the allocation of women’s entrepreneurial motivations through their institutional arrangements.

This study develops a structural model to examine the relationships among subjective perception of health, subjective perception of economic and social support, the perceived freedom in leisure, leisure satisfaction, and the well-being of elders. The subject of this study is the elderly who participated in leisure activities at Evergreen Academy in Kaohsiung City. Convenience sampling and quota sampling are adopted. 1,200 self-administered questionnaires are distributed, and 535 are valid, with a response rate of 45%. The results of this study show that subjective perception of health will positively affect perceived freedom in leisure; subjective perception of economics will positively affect perceived freedom in leisure and well-being; social support will positively affect perceived freedom in leisure, leisure satisfaction, and well-being; perceived freedom in leisure will positively affect leisure satisfaction and well-being; leisure satisfaction will positively affect well-being. There are significant differences in the subjective perception of economic and social support between male and female elders. There are significant differences in the subjective perception of economic, leisure satisfaction, and well-being among those with different education levels.

Reactance theory is applied to investigate consumer responses to “buy local” campaigns initiated by government to counteract the effects of an economic crisis, using the COVID-19 pandemic as an illustrative context.

A conceptual model is developed, aimed at revealing the extent to which “buy local” campaigns – explicitly justified by the need to fight an economic crisis – are likely to lead to (a) compliance (i.e. support for local products/retailers) or (b) freedom restoration (i.e. support for foreign products/retailers). The model is subsequently tested on samples of German (N = 265) and Italian (N = 268) consumers.

“Buy local” campaigns are likely to generate reactance amongst consumers and such reactance can lead to both non-compliance and, albeit less so, freedom restoration outcomes. At the same time, consumer ethnocentrism acts as a countervailing influence by attenuating the effects of generated reactance and its undesirable outcomes.

Psychological reactance theory offers a novel perspective for conceptually approaching the likely responses of consumers towards “buy local” campaigns and the empirical findings support the use of the theory in this context.

Policymakers seeking to encourage consumers to support the local economy during times of an economic crisis need to be aware that “buy local” campaigns may, against their intended communication goals, result in non-compliance as well as consumer responses in the opposite direction. Thus, the reactance-generating potential of such campaigns needs to be explicitly considered at the planning/implementation stage.

The findings confirm the relevance of reactance theory as a conceptual lens for studying the effects of “buy local” campaigns and have important implications for domestic/foreign firms as well as for policy makers seeking to encourage consumers to support the local economy during times of an economic crisis.

Librarianship’s dominant conception of the freedom to read is governed by a liberal principle of noninterference, wherein free readers are those who face no intentional intervention in their choice of materials. The purpose of this paper is to demonstrate how this account fails to adequately capture systemic threats that impoverish people’s reading lives.

This conceptual paper deploys informal argumentation to expose a flaw in the dominant account of the freedom to read. The author uses a case study of comparative titles or comps, an editorial decision-making and justificatory convention that reproduces racial inequality in Anglophone trade publishing.

Comps present one example of how everyday norms and practices of literary production render people’s reading lives pervasively unfree, even absent some intent to interfere in them. The going account of the freedom to read calls, at best, for a greater diversity of book-commodities from which consumers may choose. However, the comp case suggests that this distributive remedy will be insufficient without relevant changes to the institutional arrangements that condition readers' choices in the first place.

This paper draws together insights from Library and Information Science, political philosophy and print culture studies to illuminate limitations in librarianship’s standard conception of the freedom to read. This reveals the need for an alternative, structural account of that freedom with significant implications for practice.

The authors proposed a conceptual model by examining the influence of threats to their freedom on tourists’ psychological distance including social distance, spatial distance, and temporal distance, which effect psychological reactance and the consequent online Airbnb booking intentions. Furthermore, media intrusiveness as a moderator determines the boundary conditions between perceived threats to their freedom and social distance, spatial distance, and temporal distance.

Data was gathered from 491 Chinese travelers to provide empirical evidence. The authors performed data analysis in Amos 26.0 using structural equation modeling (SEM) and Hayes (2013) PROCESS macro.

The findings positively reinforced all the structural relationships of the study. Notably, media intrusiveness significantly moderates the association between perceived threats to their freedom and psychological distance (i.e. social distance, spatial distance, and temporal distance).

The findings contribute significantly to the field of social psychology, advertising, and consumer behavior derive prolific implications for policymakers and sharing economy platforms. Lastly, by identifying limitations, this research opens doors for future scholars.

Governments' acute precautionary measures in response to the COVID-19 outbreak have confined individual freedom across the globe. This study illuminates how tourists conceive these preventative measures as perceived threats to their freedom, and subsequently engage psychological reactance.

The global financial crisis of 2008 has put greater doubt on the bank risk-management effectiveness around the world. As a part of the response to such doubt, the Gulf Cooperation Council (GCC) region is formulating some feasible approaches to manage bank risk. In this regard, an understanding of the role of the region’s culture and economic freedom will provide immense input into this risk management approach. This study examines the impact of national culture and economic freedom on bank risk-taking behavior.

Data on bank risk measures, culture and economic freedom are obtained from the FitchConnect, World Bank database, Hofstede’s insights and Heritage Foundation. Generalized least squares and two step-system generalized method of moments are then used to examine the risk-taking behavior of the region.

Banks of the GCC region operating in the low power distance, high collectivism, masculine and low uncertainty avoidance cultures are susceptible to assuming more operational and insolvency risks. Furthermore, banks’ overall risk-taking inclination is positively increased once the region has considerable business and monetary freedom.

The governments and bank regulatory bodies may benefit from the study findings by developing the best economic freedom index and national culture that enriches risk management practices and curves excessive risk-taking inclination.

To the best of the authors’ knowledge, this study is the first attempt to address the interplay among culture, economic freedom and bank risk to ensure constructive risk-taking behavior for the GCC banking industry.

This study aims to examine the impact of economic freedom and corruption on bank stability in sub-Saharan Africa (SSA).

This study uses 38 countries in SSA from 2008 to 2019 using system GMM technique.

The authors found that greater economic freedom increases economic efficiency through improving bank stability. Besides this, the authors also find that banks in environments with greater business freedom, financial freedom, trade freedom and investment freedom are less prone to solvency. The results also show that corruption improves bank stability, suggesting evidence of the “grease the wheels” hypothesis.

The results suggest to policymakers that a high economic freedom may be an appropriate policy toward enhancing bank stability. Besides this, the results also suggest to policymakers to prioritize addressing the core issues that encourage corruption to extort bribes.

This study provides insightful discussion on whether economic freedom and its subcomponents and corruption have an effect on bank stability in SSA.

This paper analyzes the effect of institutional quality and economic freedom on investment and economic growth in sub-Saharan Africa (SSA).

Focusing on a panel of 27 countries, the study employed the panel fixed and random effect models to analyze data spanning from 2005 to 2018. The study also employed the Wu–Hausman test to determine if the endogeneity problem exists in the model.

The findings of the study show that individually, an improvement in economic freedom stimulates economic growth while the improvement in institutional quality is effective in spurring investment. However, the interaction effect of improvement in institutional quality and economic freedom is the stimulation of both investment and economic growth. The findings are robust to alternative model specifications.

The study implies that for SSA countries to effectively achieve higher investment and economic growth outcomes, there is the need to simultaneously strengthen institutional quality and improve economic freedom. Focusing on either of the factors without the other leads to less desirable growth and investment outcomes.

The study examined the combined influence of institutional quality and economic freedom on investment and growth in SSA. To the best of the authors’ knowledge, no study has investigated this in the context of SSA.