Search results

This study examines the effect of relational investments (e.g. supplier involvement and commitment, customer involvement and commitment) on supply chain quality integration (e.g. supplier and customer quality integration), which leads to financial performance. Moreover, the authors explore the moderating effects of legal bonds on the relationship between relational investments and supply chain quality integration.

A survey study of manufacturing firms is presented to illustrate the conceptual model. The authors use the data from 213 manufacturing firms to test the hypotheses by structural equation modeling.

The results show that supplier and customer quality integration are positively related to financial performance. Supplier involvement and commitment are positively related to supplier quality integration. Customer involvement is positively related to customer quality integration, but customer commitment is not significantly related to customer quality integration. Additionally, on the supplier side, legal bonds negatively moderate the relationship between supplier involvement and supplier quality integration but positively moderate the relationship between supplier commitment and supplier quality integration. On the customer side, legal bonds do not moderate the relationship between customer involvement and customer quality integration, but negatively moderate the relationship between customer commitment and customer quality integration.

This study provides novel insights into supply chain quality management from relational perspectives, as well as the contingent role of legal bonds between them.

This paper aims to measure the trade price impact of a recent regulatory disclosure intervention in municipal securities secondary markets, which required broker-dealers to disclose securities trading information on a near-real-time and continuing basis.

The author analyzes trade price outcomes in the preintervention and postintervention regimes using a suite of time series estimations that give heteroskedasticity-robust standard errors (Prais–Winsten and Cochrain–Orcutt), accommodate higher-order lag structure in the error term (autoregressive integrated moving average) and account for volatility clustering in the time series (generalized autoregressive conditional heteroskedasticity).

Results show that regulatory disclosure intervention significantly improved trade price efficiency in municipal securities secondary markets as daily trade price differential and volatility both declined market-wide after the disclosure intervention.

The sample consists of trades in State of California general obligation bonds; therefore, empirical findings may not be generalizable to other states, local governments and different types of bonds.

The findings highlight voluntary information disclosure as a practical and effective mechanism in disclosure regulation of municipal securities secondary markets.

Only a small body of work exists that examines information disclosure regulation in municipal securities secondary markets; therefore, this paper expands knowledge on the topic and should provide renewed impetus for regulatory efforts aimed at improving the efficiency of municipal capital markets.

The proliferation of non-fungible token (NFT)-based crypto-art platforms has transformed how creators manage, own and earn money through the creation, assets and identity of their digital works. Despite this, no studies have examined the drivers of continuous content contribution behavior (CCCB) toward NFTs. Hence, this study draws on the theory of relational bonds to examine how various relational bonds affect feelings of psychological ownership, which, in turn, affects CCCB on metaverse platforms.

Using structural equation modeling and importance-performance matrix analysis, an online survey of 434 content creators from prominent NFT platforms empirically validated the research hypotheses.

Financial, structural, and social bonds positively affect psychological ownership, which in turn encourages CCCBs. The results of the importance-performance matrix analysis reveal that male content creators prioritized virtual reputation and social enhancement, whereas female content creators prioritized personalization and monetary gains.

We examine Web 3.0 and the NFT creators’ network that characterizes the governance practices of the metaverse. Consequently, the findings facilitate a better understanding of creator economy and meta-verse commerce.

Renewable energy infrastructure is an important asset class in the context of reducing global carbon emissions going forward. This includes solar power, wind farms, hydro, battery storage and hydrogen. This paper examines the risk-adjusted performance and diversification benefits of listed renewable energy infrastructure globally over Q1:2009–Q4:2022 to examine the role of renewable energy infrastructure in a global infrastructure portfolio and in a global mixed-asset portfolio. The performance of renewable energy infrastructure is compared with the other major infrastructure sectors and other major asset classes. The strategic investment implications for institutional investors and renewable energy infrastructure in their portfolios going forward are also highlighted. This includes identifying effective pathways for renewable energy infrastructure exposure by institutional investors.

Using quarterly total returns, the risk-adjusted performance and portfolio diversification benefits of global listed renewable energy infrastructure over Q1:2009–Q4:2022 is assessed. Asset allocation diagrams are used to assess the role of renewable energy infrastructure in a global infrastructure portfolio and in a global mixed-asset portfolio.

Listed renewable energy infrastructure was seen to underperform the other infrastructure sectors and other major asset classes over 2009–2022. While delivering portfolio diversification benefits, no renewable energy infrastructure was seen in the optimal infrastructure portfolio or mixed-asset portfolio. More impressive performance characteristics were seen by nonlisted infrastructure funds over this period. Practical reasons for these results are provided as well as effective pathways going forward are identified for the fuller inclusion of renewable energy infrastructure in institutional investor portfolios.

Institutional investors have an important role in supporting reduced global carbon emissions via their investment mandates and asset allocations. Renewable energy infrastructure will be a key asset to assist in the delivery of this important agenda for a greener economy and addressing global warming. Based on this performance analysis, effective pathways are identified for institutional investors of different size assets under management (AUM) to access renewable energy infrastructure. This will see institutional investors embracing critical investment issues as well as environmental and social issues in their investment strategies going forward.

This paper is the first published empirical research analysis on the performance of renewable energy infrastructure at a global level. This research enables empirically validated, more informed and practical decision-making by institutional investors in the renewable energy infrastructure space. The ultimate aim of this paper is to articulate the potential strategic role of renewable energy infrastructure as an important infrastructure sector in the institutional real asset investment space and to identify effective pathways to achieve this renewable energy infrastructure exposure, as institutional investors focus on the strategic issues in reducing global carbon emissions in the context of increased global warming.

This study aims to examine the extent to which external auditors (EAs) use the work of the internal audit function (IAF) based on the purpose of its primary activities. The authors rely on attribution theory, which suggests that individuals search for meaning when an event occurs. In this setting, the authors explore how the overall (assurance vs advisory) or specific (e.g. risk management and evaluating internal controls) focus of IAF activities influences perceived EA reliance on the IAF’s work.

The authors first explore the research question with data extracted from a broad, longitudinal survey conducted triennially by the national chapters of the Institute of Internal Auditors in Austria, Germany and Switzerland. The data includes responses from 2014, 2017 and 2020 administrations of the survey. The authors conduct a parallel survey with practicing EAs attending two training sessions of a European office of a global network firm. Hypotheses were tested using ordered logistic regression.

Among the chief audit executive (CAE) participants, the authors observe that a balanced or primarily assurance-related purpose of the IAF, relative to a primarily advisory-related purpose, is associated with higher perceived EA reliance. The authors observe similar perceptions of the extent of reliance among the EA participants.

With a unique data set of practicing internal auditors from three countries, coupled with a sample of EAs, to the best of the authors’ knowledge, this study is the first to examine differences in EA reliance across the IAF’s primary roles. The study relies on data from three European countries, which differs from prior EA reliance literature with a largely North American focus. Further, comparison between perceptions of EAs and CAEs is a novel approach and this paper’s findings suggest that perceptions of CAEs could be a reliable proxy for EA-intended behavior.

This study examines how three psychological factors (i.e. perceived experience quality, perceived similarity and client participation) that impact client evaluations of their recent audit experiences influence client satisfaction and trustworthiness, which, in turn, affect advocacy in an small- and medium-sized enterprise (SME) context. Furthermore, the study investigates whether the influence of the three psychological factors on client satisfaction and trustworthiness is contingent on client expertise.

The sample consisted of 744 SME executives from the following four regions: central, northern, eastern and southern Thailand. Data were collected using a survey questionnaire. Confirmatory factor analysis was conducted to ensure the reliability and validity of the scale before structural equation modeling was applied to analyze the data.

The results showed significant positive effects of the three psychological factors (perceived experience quality, perceived similarity and client participation) on client satisfaction and perceived trustworthiness. The moderating role of client expertise on the relationships is also found. More specifically, client expertise positively moderated the connections between experience quality and satisfaction, experience quality and trustworthiness and client participation and trustworthiness. Conversely, client expertise negatively moderated the similarity–satisfaction and similarity–trustworthiness relationships.

This study contributes to the audit literature by examining the role of psychological factor that impacts client satisfaction and perceived trustworthiness in the SME context. Moreover, the moderating role of client expertise is examined for the first time, providing new insights into the boundary condition of the relationship.

Social media has become an indispensable part of modern politics. Its rise in the political arena has coincided with the decline in trust toward mainstream media. Today, more than half of the population gets their political news and information through social media platforms like Twitter and Facebook. Social media offers a great marketing opportunity to politicians as they allow them to bypass traditional media and communicate directly with voters, engage citizens during campaign and noncampaign periods, and create a brand image. As social media's influence in politics grows, so has the research devoted to political marketing on social media. It is against this backdrop that this chapter is written, which provides readers with an overview of the academic domain and the current state of literature. The chapter highlights the various research areas that have been explored in the literature and the implications of social media for political marketing strategy, along with the domain's current limitations and possible avenues of further research.

The farm sector is crucial for rural poverty alleviation, alongside the non-farm sector, which contributes to mitigating risks associated with crop failures. This paper investigates the effects of public policies on productive employment within both the farm and non-farm sectors in sub-Saharan Africa.

A meta-analysis is conducted exclusively on the results of the Partnership for Economic Policy (PEP)-funded studies under the Policy Analysis on Growth and Employment (PAGE II) initiative. Selected studies focused on the impact of public policies on productive employment in rural farm and non-farm sectors, encompassing a total of nine sub-Saharan Africa countries in: Benin, Burkina Faso, Cote d'Ivoire, Democratic Republic of Congo, Ghana, Lesotho, Nigeria, Senegal and South Africa.

The results indicate that public investments in rural areas and public policies that facilitate access to productive resources are likely to enhance productive employment. The overall effect size is positive and significant, ranging from 2% to 10% increases in productive employment. Sources of variation include the sector of activity and the policy instrument. In addition, the policy effects are gender-sensitive and seem more consistent in the non-farm sector.

Although the selected working papers addressed several aspects of productive employment, other aspects warrant further investigation. Policies involving restrictions or regulations have received little attention in the impact analysis. Researches to fill this gap would be important. Another suggestion for further research is the analysis of the relative importance of non-farm employment in rural areas in developing countries. It is always assumed that rural households depend heavily on agriculture for their subsistence.

The contribution of the paper lies in the comparative analysis of numerous public policies implemented in nine distinct countries. By consolidating data from fourteen 14 different experiences into a single study, the paper offers valuable insights on factors that determine policy effectiveness and contribute to understanding what worked for whom and why.

Individual Placement and Support (IPS) is an evidence-based employment model, effective in supporting individuals with severe mental health difficulties to gain competitive employment. Irish mental health policy recognises its value and IPS is being rolled out in a national programme. Employment is recognised an important contributor to mental health recovery and social inclusion. However, research on IPS has tended to focus on competitive job outcomes. The purpose of this study was to explore the non-vocational outcomes of IPS in an Irish context.

A qualitative research approach was used to interview participants taking part in IPS within community mental health teams. Twelve interviews were included in the data analysis process which was informed by a thematic analysis approach.

Participants experienced increased confidence and positivity, both within a work context and whilst job seeking. More purposeful time use, participation in activities and engagement with society were also experienced by those employed and those at the job search stage of IPS.

This study contributes to the literature about the non-vocational benefits of IPS within an Irish context, highlights the mental health recovery benefits of taking part in IPS and supports the need for ongoing development of IPS throughout mental health services in Ireland.

Green sukuk (GS) is an emerging financial tool that has gained momentum in recent years owing to increased attention being given to Islamic finance, socially responsible investing (SRI) and sustainability agendas. Yet, GS studies are fragmented, dispersed and lack comprehensive reviews. As a response to this gap in academia, this paper aims to synthesize the knowledge on GS into thematic clusters, providing a more comprehensive understanding of the subject and offering guidelines for future research.

This study implemented a systematic literature review approach to analyse studies on GS that were published prior to and including June 2023. The PRISMA 2020 protocol was used in the sample selection process. A total of 62 peer-reviewed journal articles from six databases were identified and categorized into various themes.

The results suggest that previous research has predominantly focused on the areas of GS advantages, drivers, market development and potential sectors, along with challenges and recommendations to improve the market. However, it was found that some other aspects, including GS pricing, performance and purchasing intention, require further research attention. The analysis also indicated that the use of theories in the GS context was limited, with only five theories employed in just four out of the 62 articles examined. Moreover, this paper’s findings revealed that the studies employing quantitative and empirical analysis methods were limited to four articles. Geographically, most of the studies were conducted in Indonesia and Malaysia, while other countries with high-potential markets (e.g. GCC) had limited GS practices and studies.

The results of this study have several practical implications. For investors, a review of GS will provide greater insight into the understanding of the GS market, helping them make better investment decisions. For policymakers, this paper empowers them with the knowledge to make informed decisions regarding GS markets by highlighting key recommendations identified in the literature. Finally, the proposed guidelines can be used in future research.

While Green Bonds have received significant attention, there is a dearth of research on GS and those that exist are fragmented. A systematic literature review is necessary to identify knowledge gaps for future research.