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Article
Publication date: 18 May 2021

Geeta Duppati, Frank Scrimgeour, Surachai Chancharat and Ploypailin Kijkasiwat

This paper aims to investigate how ethnic diversity and finance options impact the survival of small- and medium-sized enterprises (SMEs) in New Zealand.

Abstract

Purpose

This paper aims to investigate how ethnic diversity and finance options impact the survival of small- and medium-sized enterprises (SMEs) in New Zealand.

Design/methodology/approach

This study incorporates survey data and secondary data from the public domain. The surveys were conducted across six sectors of the economy categorised into four main ethnic groups involving six nationalities. This study adopts regression analysis using Probit, Logit and linear probability.

Findings

The financing choices of the entrepreneurs were consistent with pecking-order theory. The evidence suggests that information asymmetries are prevalent in New Zealand, as SMEs’ owners perceive significant risk from expanding businesses internationally. There is no relationship between ethnicity bias and the survival of firms.

Originality/value

This study provides a contribution to the literature on factors relating to business survival and guides the policymakers to use the benefits of potential factors to increase the survival rate of SMEs.

Details

Journal of Economics, Finance and Administrative Science, vol. 26 no. 51
Type: Research Article
ISSN: 2077-1886

Keywords

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Article
Publication date: 6 November 2018

Geeta Rani Duppati, Frank Scrimgeour and Albert Sune

This paper aims to examine the relevance of boards in driving firm level performance. For this purpose, it considers firms listed on Ireland and Spain stock exchanges for…

Abstract

Purpose

This paper aims to examine the relevance of boards in driving firm level performance. For this purpose, it considers firms listed on Ireland and Spain stock exchanges for the period 2005 to 2014, over a period that includes the global financial crisis.

Design/methodology/approach

This study uses panel data regression analysis to analyse the effects of board characteristics on performance and also uses alternate model specifications to test the significance of robustness of relationships.

Findings

The impact of board size on performance is negative and significant for Irish and Spanish firms for the study period. In general, the board independence has a positive effect on the performance of Spanish firms for the complete study period and suggests consistency with the resource dependency theory.

Research limitations/implications

The analysis suggests that in general, the non-executive and the board size do not affect the corporate performance of Irish and Spanish firms during the financial crisis. The fixed effects model suggests positive effects of gender diversity on performance for Spanish firms, while the random effects indicates negative relationship between gender diversity and performance for Irish companies.

Practical implications

The evidence on the Spanish firms suggests that female representation on the boards may be critical during the financial crisis

Social implications

The quota legislation on female board representation in Spain is yielding superior results over the soft law approach by Irish firms during the times of financial crisis period.

Originality/value

This study contributes to the literature on the corporate governance practices and performance of two countries that were strongly affected by the crisis in the European Union. As governments increasingly contemplate board gender diversity policies, this study offers useful empirical insights on Spanish and Irish firms.

Details

Corporate Governance: The International Journal of Business in Society, vol. 19 no. 2
Type: Research Article
ISSN: 1472-0701

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Article
Publication date: 7 August 2017

Geeta Duppati, Anoop S. Kumar, Frank Scrimgeour and Leon Li

The purpose of this paper is to assess to what extent intraday data can explain and predict long-term memory.

Abstract

Purpose

The purpose of this paper is to assess to what extent intraday data can explain and predict long-term memory.

Design/methodology/approach

This article analysed the presence of long-memory volatility in five Asian equity indices, namely, SENSEX, CNIA, NIKKEI225, KO11 and FTSTI, using five-min intraday return series from 05 January 2015 to 06 August 2015 using two approaches, i.e. conditional volatility and realized volatility, for forecasting long-term memory. It employs conditional-generalized autoregressive conditional heteroscedasticity (GARCH), i.e. autoregressive fractionally integrated moving average (ARFIMA)-FIGARCH model and ARFIMA-asymmetric power autoregressive conditional heteroscedasticity (APARCH) models, and unconditional volatility realized volatility using autoregressive integrated moving average (ARIMA) and ARFIMA in-sample forecasting models to estimate the persistence of the long-term memory.

Findings

Given the GARCH framework, the ARFIMA-APARCH long-memory model gave the better forecast results signifying the importance of accounting for asymmetric information when modelling volatility in a financial market. Using the unconditional realized volatility results from the Singapore and Indian markets, the ARIMA model outperforms the ARFIMA model in terms of forecast performance and provides reasonable forecasts.

Practical implications

The issue of long memory has important implications for the theory and practice of finance. It is well-known that accurate volatility forecasts are important in a variety of settings including option and other derivatives pricing, portfolio and risk management.

Social implications

It could be said that using long-memory augmented models would give better results to investors so that they could analyse the market trends in returns and volatility in a more accurate manner and reach at an informed decision. This is useful to minimize the risks.

Originality/value

This research enhances the literature by estimating the influence of intraday variables on daily volatility. This is one of very few studies that uses conditional GARCH framework models and unconditional realized volatility estimates for forecasting long-term memory. The authors find that the methods complement each other.

Details

Pacific Accounting Review, vol. 29 no. 3
Type: Research Article
ISSN: 0114-0582

Keywords

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Book part
Publication date: 19 July 2014

Stuart Locke and Geeta Duppati

This paper empirically examines the impact of corporate governance reforms on the financial performance of Indian state-owned enterprises (SOEs) for the period 2003–2011.

Abstract

Research question

This paper empirically examines the impact of corporate governance reforms on the financial performance of Indian state-owned enterprises (SOEs) for the period 2003–2011.

Research findings/insights

The findings indicate that the various corporate governance reforms collectively exhibited a statistically significant positive impact on performance when a difference in difference estimation process is used. However, the performance of SOEs is less than that of publicly listed companies, which is consistent with prior research. When the SOEs are compared with a matched pairing of publicly listed companies of similar size and same industry, their performance was comparable and in many instances superior. This is indicative of the regulatory constraints on competitors and preferential access to resources and markets given to the SOEs. As SOEs move towards a more mixed ownership model with more of them listed on the stock exchange and greater public ownership of shares the corporate governance issues will increase in importance.

Theoretical/academic implications

The controlled sell down of shares in SOEs presents a need for continuing governance reforms and ongoing research to track progress.

Practitioner/policy implications

The most striking observation from the study is that changes that were introduced as a corporate governance reform, such greater professionalism in boards, did not gain traction and enhance performance, rather the process of director selection and the concentrated bureaucratic and political interference stymied what was asserted to be conceptually sound reforms.

Details

Mechanisms, Roles and Consequences of Governance: Emerging Issues
Type: Book
ISBN: 978-1-78350-706-1

Keywords

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Book part
Publication date: 19 July 2014

Abstract

Details

Mechanisms, Roles and Consequences of Governance: Emerging Issues
Type: Book
ISBN: 978-1-78350-706-1

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Article
Publication date: 14 July 2014

Stewart Lawrence

The aim of this paper is to illustrate the social aspects of supervising students’ research of accounting practice. It attempts to demonstrate that accounting practice and…

Abstract

Purpose

The aim of this paper is to illustrate the social aspects of supervising students’ research of accounting practice. It attempts to demonstrate that accounting practice and accounting research share a common characteristic – they are both forms of social practice.

Design/methodology/approach

The paper is written as a personal reflection and confession. It follows a tradition in the social science literature of academics engaging in auto-ethnographic self-reflection. It is presented as a series of dialogues between the academic and the students.

Findings

The tensions between the experienced teacher and the students raise questions about the extent of involvement of the academic in the students’ work. Each project involves social interactions which affect the nature of the supervision required and provided. Positivistic approaches may give strict guidance in the form of accepted rules and conventions, but for social scientists who recognise that research, like practice, is socially constructed, outcomes are often uncertain.

Research limitations/implications

It is a personal reflection on specific research projects, and so there are no conclusions about supervision in general.

Practical implications

The intent is to capture the uncertain development and outcome of research projects. The uncertainty may be typical of supervisor/student experiences.

Originality/value

Though examples of auto-ethnographic self-reflection may be found in the social science literature, there are few, if any, in the accounting literature.

Details

Meditari Accountancy Research, vol. 22 no. 1
Type: Research Article
ISSN: 2049-372X

Keywords

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