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Book part
Publication date: 4 April 2024

Emre Bulut and Başak Tanyeri-Günsür

The global financial crisis (GFC) of 2007–2008 had far-reaching consequences for the global economy, triggering widespread economic turmoil. We use the event-study method to…

Abstract

The global financial crisis (GFC) of 2007–2008 had far-reaching consequences for the global economy, triggering widespread economic turmoil. We use the event-study method to investigate whether investors priced the effect of significant events before the Lehman Brothers' bankruptcy in European and Asia-Pacific banks. Abnormal returns on the event days range from −4.32% to 5.03% in Europe and −5.13% to 6.57% in Asia-Pacific countries. When Lehman Brothers went bankrupt on September 15, 2008, abnormal returns averaged the lowest at −4.32% in Europe and −5.13% in Asia-Pacific countries. The significant abnormal returns show that Lehman Brothers' collapse was a turning point, and investors paid attention to the precrisis events as warning signs of the oncoming crisis.

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

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Understanding Intercultural Interaction: An Analysis of Key Concepts, 2nd Edition
Type: Book
ISBN: 978-1-83753-438-8

Book part
Publication date: 7 February 2024

Clóvis Reis and Yanet María Reimondo Barrios

This chapter presents a comparative study of the trends and patterns of communication and tourism research in Brazil and the United States over the last 20 years. Through a…

Abstract

This chapter presents a comparative study of the trends and patterns of communication and tourism research in Brazil and the United States over the last 20 years. Through a bibliometric analysis of the CAPES and EBSCO databases, the study identifies the main theoretical and methodological references, classifies the fundamental themes in the area, and describes the role of communication for tourism. The results indicate the predominance in North American scientific literature of research related to the image and the brand of the tourist destinations, as well as the measurement and the evaluation of the communicative strategies. On the other hand, Brazilian research presents a greater diversity of approaches: destination image studies, tourism consumption, tourist narrative analysis, identities, social networks, community-based tourism, sports, and ecological tourism, with an explicit recognition of the dangers of sexual objectification and dehumanization within tourism. The survey showed that the scientific community has a strong interest in this area, signaling a search for knowledge to deepen the conceptual understanding of the subject. Thus, this chapter provides insights regarding the opportunities and directions for the next decades of research in this field of study.

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Creating Culture Through Media and Communication
Type: Book
ISBN: 978-1-80071-602-5

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Book part
Publication date: 4 March 2024

Frank Fitzpatrick

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Understanding Intercultural Interaction: An Analysis of Key Concepts, 2nd Edition
Type: Book
ISBN: 978-1-83753-438-8

Book part
Publication date: 6 May 2024

Rachida Sahraoui and Abderrahmane Laib

This chapter addresses a significant topic in Algeria, namely the issue of Corporate Social Responsibility (CSR), by examining the use of business ethics codes. In recent years…

Abstract

This chapter addresses a significant topic in Algeria, namely the issue of Corporate Social Responsibility (CSR), by examining the use of business ethics codes. In recent years, there has been growing interest among companies in implementing practices that can justify their CSR efforts, including the development of corporate business ethics codes. These codes play a crucial role in formalizing the integration of CSR strategies. In Algeria, several companies have adopted business ethics codes; one such example is the companies in the oil and gas sector, the leading oil industry company in Algeria. These companies have implemented a business ethics code to provide justification and guidance for their CSR practices. The main objective of this chapter is to demonstrate the commitment of companies to CSR through the development of their business ethics codes. It presents the results of a comprehensive analysis of the business ethics codes of Algerian companies in the oil and gas sector. The approach involved the development of an analytical framework with various criteria and an objective examination of the business ethics code to yield results that aligned with these criteria. The study concludes that the business ethics codes of these companies serve as sources of internal regulation that primarily address ethical concerns and reflects the existing Algerian regulations at the organizational level.

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The Emerald Handbook of Ethical Finance and Corporate Social Responsibility
Type: Book
ISBN: 978-1-80455-406-7

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Book part
Publication date: 9 February 2024

Attilio Trezzini

Hazel Kyrk’s contribution is the most advanced formulation of the economics of consumption as a social phenomenon, an approach to the analysis of consumption that, originated from…

Abstract

Hazel Kyrk’s contribution is the most advanced formulation of the economics of consumption as a social phenomenon, an approach to the analysis of consumption that, originated from Veblen’s theory, was developed in the US in the early 20th century. This approach was part of a wider stream of empirical analyses of consumption expenditure that had begun more than a century earlier.

Along with elements that can be traced back to the neoclassical tradition, in Keynes’ analysis of consumption, we find original elements. The dependence of consumption expenditure on the level of income, which is essential for asserting the principle of effective demand, can also be found in a long tradition of empirical studies. In qualifying this relationship, Keynes uses theoretical elements echoing key insights of the economics of consumption as a social phenomenon. There is no documentary evidence that Kyrk or the economics of the social relevance of consumption came to Keynes’ attention. It is possible, however, to develop reasonable speculative considerations to argue a link between Keynes’ elaboration and both the empirical literature on the determinants of consumption and the economics of consumption as a social phenomenon.

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Research in the History of Economic Thought and Methodology: Including a Symposium on Hazel Kyrk's: A Theory of Consumption 100 Years after Publication
Type: Book
ISBN: 978-1-80455-991-8

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Book part
Publication date: 4 April 2024

Chih-Chen Hsu, Kai-Chieh Chia and Yu-Chieh Chang

This study investigates the efficiency of value relevance and faithful representation when stock market price derivates from its firm value to the investigated IT companies listed…

Abstract

This study investigates the efficiency of value relevance and faithful representation when stock market price derivates from its firm value to the investigated IT companies listed in FTSE Taiwan 50. The empirical investigation reveals one financial indicators: Return on equity (ROE) has explanatory ability among seven financial indicators, earnings per share (EPS), book value (BV), dividend yield (Div.), price–earnings ratio (P/E), ROE, return on assets (ROA), and return on operating asset (ROOA) to both sampled companies, United Microelectronics Corporation, UMC, (2303) and Taiwan Semiconductor Manufacturing Company Limited, TSMC, (2330). Furthermore, the empirical results indicate that the higher order moments, skewness and kurtosis, of price deviation do not provide a reliable prediction or explanatory power for stock price trends.

Book part
Publication date: 15 April 2024

M. Rezaul Islam

This chapter embarks on a cross-Asian comparison to glean valuable insights from various regions and religious contexts. By examining family planning practices and challenges in…

Abstract

This chapter embarks on a cross-Asian comparison to glean valuable insights from various regions and religious contexts. By examining family planning practices and challenges in different parts of Asia, valuable lessons are uncovered that can inform policies, programs, and initiatives aimed at achieving family planning-related sustainable development goals (SDGs). The complexities and nuances of family planning across diverse cultural, social, and religious landscapes are delved into, shedding light on both common threads and unique challenges faced by marginalized communities. Through this comparative analysis, the aim is to contribute to a holistic understanding of family planning in Asia and provide actionable recommendations to enhance access, equity, and outcomes in pursuit of family planning-related SDGs.

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Family Planning and Sustainable Development in Bangladesh: Empowering Marginalized Communities in Asian Contexts
Type: Book
ISBN: 978-1-83549-165-2

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Book part
Publication date: 13 May 2024

Fisnik Morina, Albulena Syla and Sadri Alija

Purpose: This study analyses how investments and specific financial factors affect the financial performance of businesses in Kosovo. Exploring the relationship between…

Abstract

Purpose: This study analyses how investments and specific financial factors affect the financial performance of businesses in Kosovo. Exploring the relationship between investments and financial performance and their impact on performance volatility, performance is assessed using return on assets (ROA) and return on equity (ROE) investments.

Methodology: Quantitative methods using secondary data from audited financial statements of Kosova manufacturing and commercial enterprises cover a 3-year period (2019–2021), involving 40 enterprises with 120 observations. Statistical tests such as descriptive statistics, correlation analysis, linear regression, Hausman–Taylor regression, fixed effects, random effects, and generalised estimating equations (GEE) model are applied. The study also utilises ARCH–GARCH analysis to assess the relationship between investments and performance volatility.

Findings: Investments positively impact the financial performance of Kosova businesses and significantly reduce performance volatility. Long-term liabilities, retained earnings, and short-term liabilities also play a role in reducing asset return volatility, while cash flow from financial activities increases it. Investments, cash flows from financial activities, long-term liabilities, short-term liabilities, retained earnings, and solvency affect equity return volatility.

Practical Implications: The study sheds light on how investments and financial factors influence the financial performance and volatility of Kosova businesses. Policymakers can use these insights to create policies that foster the development of commercial and manufacturing enterprises, given their importance in Kosovo’s economy.

Significance: This research provides valuable insights for business managers to enhance investment strategies and improve financial performance. Policymakers can rely on this academic study to enhance the economic environment and promote the growth of businesses in Kosovo.

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VUCA and Other Analytics in Business Resilience, Part A
Type: Book
ISBN: 978-1-83753-902-4

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Book part
Publication date: 9 February 2024

Yue Xiao and Joseph Persky

The conflict between institutionalism and neoclassicism in the 20th century has been investigated by scholars over the years. Many of them believe that in the postwar period…

Abstract

The conflict between institutionalism and neoclassicism in the 20th century has been investigated by scholars over the years. Many of them believe that in the postwar period, neoclassicism triumphed while institutionalism largely disappeared. The present chapter takes a very different view. The late 20th century represents a broad synthesis of neoclassical and institutional themes in a methodology we call pragmatic empiricism. That approach combines the mathematical model building and theoretical formalism of neoclassical economics with the institutional economist’s data-driven statistical analysis and concern for developing institutional forms. We use as a case study the history of American locational economics from the 1930s to the present. The mixing of institutional and neoclassical themes is quite evident in the work of three young scholars at Harvard who effectively initiated American locational economics. In the postwar period, we find a series of outstanding, well-published papers that capture the spirit of the “founders.” These papers do use more modeling, but they also focus on major institutional developments. A broader review of locational works is consistent with the pragmatic empiricism label. The history of locational economics supports the claim that institutionalism, far from disappearing, continues to provide fundamental questions and techniques for modern pragmatic empiricism.

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Research in the History of Economic Thought and Methodology: Including a Symposium on Hazel Kyrk's: A Theory of Consumption 100 Years after Publication
Type: Book
ISBN: 978-1-80455-991-8

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