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Article
Publication date: 7 July 2020

Selamah Abdullah Yusof and Mohd Nahar Mohd Arshad

This study aims to investigate the level of business exposure to corruption in Malaysia. The authors estimate the effect of bribe requests from business establishments by…

Abstract

Purpose

This study aims to investigate the level of business exposure to corruption in Malaysia. The authors estimate the effect of bribe requests from business establishments by public officials and identify the level of vulnerability of businesses to such requests.

Design/methodology/approach

This study uses firm-level data from the World Bank Malaysia Enterprise Survey 2014. The analyses are based on binary logit, tobit and generalized ordered logit regressions.

Findings

The authors find that one-fifth of firms applying for construction permits or had visits or meetings with tax officials were expected to pay bribes. Firms’ encounters with corruption were higher still when applying for import (29%) or operating license (24.7%). About 40% of the firms considered corruption an obstacle to their business operations to the degree of moderate, major and even severe. On average, 11% of firms’ total annual sales were apportioned for informal gifts or “speed money.” The authors also find that larger, younger and women-managed/owned companies were more likely to be targeted for bribe payments. The amount of bribe paid by foreign-owned firms was higher than the local firms. Manufacturing firms had lower incidences of bribe requests, but the amount paid was higher than services-related companies. Firms run or owned by women also, on average, paid a higher amount bribe.

Social implications

These findings should be taken into consideration in the efforts to eradicate corruption affecting businesses in Malaysia.

Originality/value

This study is unique in the sense that it is based on firm-level data for a Malaysian case.

Details

Journal of Financial Crime, vol. 27 no. 4
Type: Research Article
ISSN: 1359-0790

Keywords

Article
Publication date: 19 March 2019

Faisal Shahzad, Ijaz Ur Rehman, Sisira Colombage and Faisal Nawaz

The purpose of this paper is to empirically investigate the impact of two monitoring mechanisms: family ownership (FO) and financial reporting quality (FRQ) on investment…

1188

Abstract

Purpose

The purpose of this paper is to empirically investigate the impact of two monitoring mechanisms: family ownership (FO) and financial reporting quality (FRQ) on investment efficiency (IE) over the period of 2007–2014 for listed firms on the Pakistan Stock Exchange.

Design/methodology/approach

The authors employ two-dimensional pooled OLS cluster at the firm and year level, two-stage least square regression and feasible generalized lease square regression regression methods.

Findings

The findings suggest that higher FRQ and FO are associated with higher IE. Further, the authors report that higher FRQ and FO mitigate over- and under-investment. The impact of FRQ on IE is stronger (weaker) for family-controlled businesses. The results for these particular estimates are robust for alternative estimation techniques and measures of FRQ and FO.

Originality/value

The study draws on both agency and behavioral agency theories and therefore contributes to the literature in the following ways. First, the authors examine a relationship between FRQ and IE. Second, the authors test the impact of FO on IE. Third, the authors test the moderating impact of FO on the relationship between FRQ and the IE of family and non-family firms in relatively less regulated emerging market.

Details

Managerial Finance, vol. 45 no. 4
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 3 January 2017

Miroslava Bavorova, Anica Veronika Fietz and Norbert Hirschauer

A whole series of food scandals indicates that misdirected incentives continue to be a source of food risks. Lacking market transparency and the opportunistic use of…

Abstract

Purpose

A whole series of food scandals indicates that misdirected incentives continue to be a source of food risks. Lacking market transparency and the opportunistic use of seemingly profitable opportunities to break the rules cause negative externalities and failure of markets. The purpose of this paper is to investigate the influence of mandatory transparency schemes on food businesses’ behavioural drivers and thus on compliance.

Design/methodology/approach

The authors use an adopted analytical framework developed by Hirschauer et al. (2012) as the theoretical background. The authors provide an empirical analysis of the effects of a disclosure system on businesses’ behavioural drivers in three urban parts of the German capital Berlin. The authors conducted a pen-and-paper survey among food businesses to collect data and used a generalized ordered logit regression model to analyse them.

Findings

The results show that the higher the businesses assess the possible negative effects of a negative smiley on sales, the higher the probability of compliance. Considering the immaterial behavioural drivers (protective factors) the authors find the statistical significant influence of a feeling of embarrassment in case of disclosure and the feeling of a fair evaluation on compliance. Thus, the study supports the expectation that disclosure policies affect behavioural drivers and have the potential to steer food businesses’ compliance.

Practical implications

The study supports the expectation that hygiene controls’ disclosure positively affects food businesses’ compliance. These findings should be taken into consideration in the ongoing discussion about disclosure. Nowadays, there is no mandatory transparency in Germany due to a strong opposition from businesses and their lobbying groups.

Originality/value

The authors conducted a pen-and-paper survey among food businesses in three urban districts of the German capital Berlin, namely, Pankow, Lichtenberg and Marzahn-Hellersdorf in 2014. The food authorities in these districts were the only ones in Germany that had introduced and run a mandatory disclosure system (smiley-system) for food businesses. The results of the inspections were published on the authorities’ homepages in the internet, and were displayed in businesses. Thus the data mirror the unique experiences of the only German food businesses that participated in a mandatory transparency scheme.

Details

British Food Journal, vol. 119 no. 1
Type: Research Article
ISSN: 0007-070X

Keywords

Open Access
Article
Publication date: 12 April 2019

Iman Ghalehkhondabi, Ehsan Ardjmand, William A. Young and Gary R. Weckman

The purpose of this paper is to review the current literature in the field of tourism demand forecasting.

11508

Abstract

Purpose

The purpose of this paper is to review the current literature in the field of tourism demand forecasting.

Design/methodology/approach

Published papers in the high quality journals are studied and categorized based their used forecasting method.

Findings

There is no forecasting method which can develop the best forecasts for all of the problems. Combined forecasting methods are providing better forecasts in comparison to the traditional forecasting methods.

Originality/value

This paper reviews the available literature from 2007 to 2017. There is not such a review available in the literature.

Details

Journal of Tourism Futures, vol. 5 no. 1
Type: Research Article
ISSN: 2055-5911

Keywords

Article
Publication date: 7 December 2021

Jitendra Yadav, Madhvendra Misra, Nripendra P. Rana, Kuldeep Singh and Sam Goundar

Based on the concepts confined in Ajzen's theory of planned behavior (TPB), this study investigates users' attitudes towards adoption of a blockchain-based framework in…

Abstract

Purpose

Based on the concepts confined in Ajzen's theory of planned behavior (TPB), this study investigates users' attitudes towards adoption of a blockchain-based framework in the esports industry that proposes a scheme of rewarding stakeholders for their invested attention along with blockchain technology's inherent protocols.

Design/methodology/approach

The present study uses RStudio (Version 1.3.1093) package RedditExtractoR for scraping and analysis of the discussion referring to the keyword “Verasity” on the Reddit website. The final corpus of 1,913 user comments was considered for the study. Sentiment analysis was initially conducted to explore the semantic orientation of the users concerning Verasity. This was followed by generalized equation modeling to analyze the impact of social media attributed to the users' commenting behavior.

Findings

The study found that Redditors, in general, have a positive attitude towards the adoption of a blockchain-based esports platform. This was validated through the empirical findings. The regression model states that there is a significant positive impact of the positivity in the comments over the Redditors' attitude and in their commenting behavior.

Originality/value

This study offers a new understanding of key contributing attributes of sentiment formation over social media concerning a blockchain-based esports framework. The study also establishes an empirical relationship between the social media attributes and the commenting behavior of Redditors. Finally, the current study offers valuable insights into social media engagements and the selection of highly influential Redditors for practicing marketing managers.

Details

International Journal of Sports Marketing and Sponsorship, vol. 23 no. 4
Type: Research Article
ISSN: 1464-6668

Keywords

Book part
Publication date: 25 May 2022

Abhijeet Bag, Sarbapriya Ray and Mihir Kumar Pal

In India, economic reforms adopted in 1991 in form of LPG (Liberalization-Privatization-Globalization) removed numerous barriers to grow and offered opportunities to…

Abstract

In India, economic reforms adopted in 1991 in form of LPG (Liberalization-Privatization-Globalization) removed numerous barriers to grow and offered opportunities to improve productivity, particularly, for the manufacturing sector. But the rationale that manufacturing sector acted as main contributor to country's economic growth via GDP growth (called “engine of growth”) for a long time in India has been challenged now a day. The growing significance of the services sector across the world exhibits that at the present time, the services sector could become the new engine of economic growth in developing economies like India. The present study seeks to bring to light whether manufacturing is acting as an “engine of growth” at inter-state level in India or not and the cross section result indicates that potency of manufacturing growth and agricultural growth is gradually slowing down as a conforming part of economic growth and service sector is taking leading position in accelerating engine of growth in India.

Details

Globalization, Income Distribution and Sustainable Development
Type: Book
ISBN: 978-1-80117-870-9

Keywords

Article
Publication date: 8 April 2021

Lamia Jamel, Hanadi Eid Albogami, Mazen Abduljalil Abdulaal and Nuha Ahmed Aljohani

The purpose of this paper is to examine the impact of agency conflicts between managers and shareholders on corporate risk management and financial performance of Saudi…

Abstract

Purpose

The purpose of this paper is to examine the impact of agency conflicts between managers and shareholders on corporate risk management and financial performance of Saudi firms listed in the Saudi Stock Exchange Tadawul.

Design/methodology/approach

To investigate the effect of agency conflicts between managers and shareholders on corporate risk management and financial performance, we use a sample of 180 Saudi firms listed in the Saudi Stock Exchange Tadawul during the period from 2009 to 2018. Econometrically, we employ Vector Autoregressive (VAR) and General Linear Model (GLM) techniques as an appropriate methodology.

Findings

Our findings show that the risk level of the last year increase the corporate risk management and the performance of Saudi firm. We remark that the separation amongst control and ownership generates agency conflicts amongst managers and shareholders which can affect their behavior in decision-making and performance of the Saudi firms. Thus, the conflicts of interest arise from the differences among the work horizon, the risk assumed, the performance of enterprises, and the level of remuneration desired by the managers and shareholders in the case of Saudi firms.

Originality/value

The main contributions of our paper prove that the deepen the study of agency costs linked to a shareholding structure through the analysis of monitoring, obligation, and opportunity costs in the Saudi firms.

Details

Journal of Investment Compliance, vol. 22 no. 1
Type: Research Article
ISSN: 1528-5812

Keywords

Open Access
Article
Publication date: 19 August 2022

Bedour M. Alshammari, Fairouz Aldhmour, Zainab M. AlQenaei and Haidar Almohri

There is a gap in knowledge about the Gulf Cooperation Council (GCC) because most studies are undertaken in countries outside the Gulf region – such as China, India, the…

Abstract

Purpose

There is a gap in knowledge about the Gulf Cooperation Council (GCC) because most studies are undertaken in countries outside the Gulf region – such as China, India, the US and Taiwan. The stock market contains rich, valuable and considerable data, and these data need careful analysis for good decisions to be made that can lead to increases in the efficiency of a business. Data mining techniques offer data processing tools and applications used to enhance decision-maker decisions. This study aims to predict the Kuwait stock market by applying big data mining.

Design/methodology/approach

The methodology used is quantitative techniques, which are mathematical and statistical models that describe a various array of the relationships of variables. Quantitative methods used to predict the direction of the stock market returns by using four techniques were implemented: logistic regression, decision trees, support vector machine and random forest.

Findings

The results are all variables statistically significant at the 5% level except gold price and oil price. Also, the variables that do not have an influence on the direction of the rate of return of Boursa Kuwait are money supply and gold price, unlike the Kuwait index, which has the highest coefficient. Furthermore, the height score of the variable that affects the direction of the rate of return is the firms, and the accuracy of the overall performance of the four models is nearly 50%.

Research limitations/implications

Some of the limitations identified for this study are as follows: (1) location limitation: Kuwait Stock Exchange; (2) time limitation: the amount of time available to accomplish the study, where the period was completed within the academic year 2019-2020 and the academic year 2020-2021. During 2020, the coronavirus pandemic (COVID-19), which was a major obstacle, occurred during data collection and analysis; (3) data limitation: The Kuwait Stock Exchange data were collected from May 2019 to March 2020, while the factors affecting the stock exchange data were collected in July 2020 due to the corona pandemic.

Originality/value

The study used new titles, variables and techniques such as using data mining to predict the Kuwait stock market. There are no adequate studies that predict the stock market by data mining in the GCC, especially in Kuwait. There is a gap in knowledge in the GCC as most studies are in foreign countries, such as China, India, the US and Taiwan.

Details

Arab Gulf Journal of Scientific Research, vol. 40 no. 2
Type: Research Article
ISSN: 1985-9899

Keywords

Article
Publication date: 20 February 2009

Hoje Jo and Carrie Pan

The purpose of this paper is to examine the relation between managerial entrenchment and dividend policy for a large number of US industrial firms and examine the relative…

2463

Abstract

Purpose

The purpose of this paper is to examine the relation between managerial entrenchment and dividend policy for a large number of US industrial firms and examine the relative importance of three competing explanations behind the empirical association between managerial entrenchment and dividend policy, namely, the entrenchment irrelevance hypothesis, the dividend signaling hypothesis, and the optimal entrenchment hypothesis.

Design/methodology/approach

Utilizing all firms in the Investor Responsibility Research Center database, Compustat and center for research in security prices (CRSP), this paper investigates firm's propensity to pay dividends based on various logit and Tobit regressions as a function of managerial entrenchment measured by Gompers et al. G index after controlling for known determinants of firms' dividend decisions during the period from 1990 to 2003.

Findings

Results show that firms with entrenched managers are more likely to pay dividends. Their high propensity to pay persists over time. A large cash reserve can be used to deter hostile takeovers. Paying dividends reduces cash holdings, leaving the firm more vulnerable to hostile takeovers. In equilibrium, value‐maximizing firms with weak investment opportunities provide managers against takeovers to induce them to distribute cash rather than build a warchest against unwanted takeovers.

Originality/value

The main finding confirms the belief that firms choose a combination of anti‐takeover provisions and dividend policy to maximize shareholder value, evidence in favor of the optimal entrenchment hypothesis.

Details

Review of Accounting and Finance, vol. 8 no. 1
Type: Research Article
ISSN: 1475-7702

Keywords

Book part
Publication date: 16 June 2008

Karen C. Miller, J. Riley Shaw and Tonya K. Flesher

The use of corporate aircraft has increased as businesses place more value on ease of mobility. The bonus depreciation incentives of 2002 and 2003 provided growth…

Abstract

The use of corporate aircraft has increased as businesses place more value on ease of mobility. The bonus depreciation incentives of 2002 and 2003 provided growth opportunities for the general aviation market by allowing accelerated depreciation deductions for the purchase of new corporate aircraft. These incentives allowed more than twice the traditional MACRS allowance for depreciation for the first year of operation of an asset, but the present value of the tax savings after the full depreciable life of the corporate aircraft only generated a 3.25 percent reduction in the after-tax-cost. This study documents that the bonus depreciation incentives did not generate significant growth in the general aviation aircraft market via increased production of aircraft. These incentives may have simply slowed the recession that might have taken place in this industry otherwise. However, the incentives in this study did play a significant role in determining which type of aircraft to purchase, piston or turbine.

Details

Advances in Taxation
Type: Book
ISBN: 978-1-84663-912-8

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