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Article
Publication date: 1 January 2021

Hang Vo, Richard John Kirkham, Terry Mervyn Williams, Amanda Howells, Rick Forster and Terry Cooke-Davies

Effective and robust governance of major projects and programmes in the public sector is crucial to the accountability of the state and the transparency of state spending…

Abstract

Purpose

Effective and robust governance of major projects and programmes in the public sector is crucial to the accountability of the state and the transparency of state spending. The theoretical discourse on governance, in the context of projects and programmes, is not fully mature, although is now sufficiently well developed to warrant an increased scholarly focus on practice. This paper aims to contribute to the empirical literature through a study of assurance routines in the UK Government Major Projects Portfolio (GMPP).

Design/methodology/approach

A framework analysis approach to the evaluation of a subset of GMPP database generates original insights into (1) the framing of assurance review recommendations, (2) the treatment of assurance review data and (3) the subsequent tracking of the implementation of actions arising from the assurance review process.

Findings

The analysis reveals that the “delivery confidence” of the major projects and programmes included in this study improves during the time that they are assured on the GMPP. This would suggest that “enhanced” governance routines are desirable in programmes and projects that exhibit high degrees of complexity and scale.

Originality/value

The research findings contribute to the wider conversations in this journal and elsewhere on project governance routines and governance-as-practice in the context of government and public services.

Details

International Journal of Managing Projects in Business, vol. 14 no. 4
Type: Research Article
ISSN: 1753-8378

Keywords

Article
Publication date: 3 April 2018

Clara Akuzike Nkhoma, Susan Thomas, Mathews Zanda Nkhoma, Narumon Sriratanaviriyakul, Trang Huyen Truong and Hung Xuan Vo

Despite the growing body of literature demonstrating the role of communication in educational settings, there are limited up-to-date studies exploring the use of an…

Abstract

Purpose

Despite the growing body of literature demonstrating the role of communication in educational settings, there are limited up-to-date studies exploring the use of an instant messaging (IM) tool and its impacts on students’ learning outcomes, especially in the tertiary education in Vietnam. This study approached IM as an out-of-class communication (OCC) approach in computer-mediated communication. The purpose of this paper is to investigate students’ perceived quality of information received and its influence on their perceived performance proficiency as a result of their lecturers’ clarification of their enquiries through an online instant message application, namely Remind (www.remind.com/).

Design/methodology/approach

The target groups were first-year business students in an international university in Vietnam. The analysis of the data gathered from the questionnaire was carried out using a measurement model and a structural equation model.

Findings

The findings indicate that using OCC technology creates social bonding between students and lecturers by allowing students to clarify the ambiguity of concepts learnt in class and create a sense of connection with their lecturers which leads to better student engagement and hence improved learning outcomes.

Originality/value

The authors highlight the evidence of effective usage of IM tool by university students as a meaningful communication tool and the need to integrate technology into all educational settings.

Article
Publication date: 15 March 2022

Ho Thuy Tien and Ngo Thai Hung

This study aims to examine the spillover effects of the mean and volatility between oil prices and stock indices of six Gulf Cooperation Council (GCC) countries (UAE…

Abstract

Purpose

This study aims to examine the spillover effects of the mean and volatility between oil prices and stock indices of six Gulf Cooperation Council (GCC) countries (UAE, Kuwait, Saudi Arabia, Qatar, Oman and Bahrain).

Design/methodology/approach

Over the period 2008–2019, a bivariate VARMA-GARCH-ADCC model was combined with the maximal overlap discrete wavelet transform technique filter to shed light on a wide range of possible spillover effects in the mean and variances of level prices at various time horizons.

Findings

The authors find that the spillover effects between oil prices and the GCC stock markets are time-varying and spread across various time horizons. Besides, oil prices and stock market indices are directly impacted by their own shocks and variations and indirectly influenced by other price volatilities and wavelet scales. The linkages in volatility spillovers between oil prices and the GCC stock markets occur in the short-term, midterm and long-term horizons. More specifically, the results also show that the asymmetric estimates are statistically significant for the associations between oil prices and each stock market in the GCC countries. This implies that negative shocks play a more vital role than positive shocks in driving the dynamic condition correlations between oil and stock markets under study.

Practical implications

The significant interrelatedness between oil prices and each stock market in the GCC countries has important implications for investors, portfolio managers, and other market participants. They can use the findings of this research to create the best oil-GCC stock portfolios and predict more precisely the volatility spillover patterns in constructing their hedging strategies.

Originality/value

In several ways, this study differs from previous research. First, while previous empirical studies of the dynamic link between oil prices and stock markets have focused primarily on developed or emerging markets, the focus of this is on six GCC countries. Second, the linkage between oil prices and stock markets is typically studied at the original data level in the time domain in relevant literature, while frequency information is overlooked. Therefore, the current study examines this relationship from a multiscale perspective. Third, in this paper, to capture a wide range of possible spillover effects in the mean and variance of level prices at multiple wavelet scales, the authors use a VARMA-GARCH-ADCC model in conjunction with wavelet multiresolution analysis. Additionally, this article also applies wavelet hedge ratio and wavelet hedge portfolio analysis at various time horizons.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 15 no. 6
Type: Research Article
ISSN: 1753-8394

Keywords

Article
Publication date: 28 June 2022

Amar Rao, Mansi Gupta, Gagan Deep Sharma, Mandeep Mahendru and Anirudh Agrawal

The purpose of the present study is to contribute to the existing literature by examining the nexus and the connectedness between classes S&P Green Bond Index, S&P GSCI…

Abstract

Purpose

The purpose of the present study is to contribute to the existing literature by examining the nexus and the connectedness between classes S&P Green Bond Index, S&P GSCI Crude Oil Index, S&P GSCI Gold, MSCI Emerging Markets Index, MSCI World Index and Bitcoin, during the pre-and post-Covid period beginning from August 2011 to July 2021 (10 years).

Design/methodology/approach

The study employs time-varying parameter vector autoregression and Quantile regression methods to understand the impact of events on traditional and upcoming asset classes. To further understand the connectedness of assets under consideration, the study used Geo-Political Risk Index (GPR) and Global Economic Policy and Uncertainty index (GPEU).

Findings

Findings show that these markets are strongly linked, which will only expand in the post-pandemic future. Before the pandemic, the MSCI World and Emerging Markets indices contributed the most shocks to the remaining market variables. Green bond index shows a greater correlation and shock transmission with gold. Bitcoin can no longer be used as a good hedging instrument, validating the fact that the 21st-century technology assets. The results further opine that under extreme economic consequences with high GPR and GPEU, even gold cannot be considered a safe investment asset.

Originality/value

Financial markets and the players who administer and communicate their investment logics are heavily reliant on conventional asset classes such as oil, gas, coal, nuclear and allied groupings, but these emerging asset classes are attempting to diversify.

Article
Publication date: 1 June 1995

Bill Pietrucha

Vietnam's industrial evolution is luring U. S. companies as the country emerges from political banishment.

Abstract

Vietnam's industrial evolution is luring U. S. companies as the country emerges from political banishment.

Details

Journal of Business Strategy, vol. 16 no. 6
Type: Research Article
ISSN: 0275-6668

Open Access
Article
Publication date: 20 August 2021

Imran Yousaf, Hasan Hanif, Shoaib Ali and Syed Moudud-Ul-Huq

The authors aim to examine the mean and volatility linkages between the gold market and the Latin American equity markets in the entire sample period and two crises…

Abstract

Purpose

The authors aim to examine the mean and volatility linkages between the gold market and the Latin American equity markets in the entire sample period and two crises periods, namely the US financial crisis and the Chinese crash.

Design/methodology/approach

To examine the return and volatility spillovers, the authors employ VAR-BEKK-GARCH model on the daily data of four emerging Latin American equity markets which include Peru, Chile, Brazil and Mexico, which ranges from January 2000 to June 2018.

Findings

The results show that the return transmissions vary across the stock markets and the crises periods. The volatility transmission is found to be bidirectional between the gold and stock markets of Brazil and Chile during the US financial crisis. Furthermore, the volatility spillover is unidirectional from Brazil to gold and from gold to Peru stock market during the Chinese crash. We also calculate the optimal weights hedge ratios for gold and stock portfolio. The result suggests that portfolio managers need to increase the weight of gold for the equity portfolios of Peru and Mexico during the US financial crisis. Furthermore, during the Chinese crisis, investors may raise the investment in gold for the equity portfolios of Brazil and Chile. Finally, the cheapest hedging strategy is CHIL/GOLD during the US financial crisis, whereas MEXI/GOLD during the Chinese crash.

Practical implications

These findings have useful insights for portfolio diversification, asset pricing and risk management.

Originality/value

The study's outcome provides policymakers and investors with in-depth insights regarding hedging, risk management and portfolio management.

Details

Journal of Economics, Finance and Administrative Science, vol. 26 no. 52
Type: Research Article
ISSN: 2218-0648

Keywords

Article
Publication date: 20 May 2020

Constantinos Alexiou and Sofoklis Vogiazas

We investigate the impact of the strength of intellectual property (IP) institutions on Chinese outward foreign direct investment (OFDI).

Abstract

Purpose

We investigate the impact of the strength of intellectual property (IP) institutions on Chinese outward foreign direct investment (OFDI).

Design/methodology/approach

We use two different measures of IP on a sample of 21 European countries in the period 2003–2015. Panel quantile methodology is applied to assess the relationship at several points of the conditional distribution of OFDI.

Findings

We provide novel and robust evidence revealing a highly negative relationship between OFDI and the strength of IP institutions in Europe. This relationship which is more pronounced in the median and upper-quantiles, bolsters the conventional theoretical expectation that high institutional distance between home and host countries is inversely related to OFDI. Equally important is the preliminary evidence of the non-linear impact of IP at the median and upper-quantiles as well as the impact of other controlling variables such as GDP, population, trade openness and unit labour costs on Chinese OFDI.

Originality/value

The ensuing theoretical implications are of great significance for future studies on the institutional distance and drivers of OFDI by emerging economies as well as for European policymakers in so far as the strengthening of IP institutions constitutes a gravitational point for inward investment flows from China.

Details

Journal of Economic Studies, vol. 48 no. 2
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 12 June 2017

Ruchika Malik, Tanavi Madappa and Jaya Chitranshi

The hospitality and tourism industry has seen an increase in organizations operating internationally, bringing people from diverse cultural backgrounds together. The…

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Abstract

Purpose

The hospitality and tourism industry has seen an increase in organizations operating internationally, bringing people from diverse cultural backgrounds together. The authors aim to help clarify that with a lack of awareness and understanding about diversity, many problems arise in terms of effective intercultural communication between managers and employees and employees and the customers. This paper helps in answering the questions related to the importance of cross cultural management, the intercultural issues faced by an organization, the best practices for diversity management and the future of cultural diversity.

Design/methodology/approach

The authors have carried out a review-based research of 60 papers relevant to the topic. The study has been restricted to secondary data consisting of research in the area of managing cultural diversity.

Findings

The researchers have concluded that there are different dimensions of cultural diversity and thus policies and programs to manage it have to be carefully implemented and integrated. Also, managers need to identify the current gaps in the organization in terms of diversity management to take the necessary steps for building a harmonious relationship between expatriates and the local employees.

Originality/value

The study addresses the complex nature of cultural diversity and the management issues of multiculturalism within the hospitality and tourism industry. The authors have made an effort to identify the best practices and programs for managing a diverse workforce which may also improve engagement and retention levels through radical inclusion of employees.

Details

foresight, vol. 19 no. 3
Type: Research Article
ISSN: 1463-6689

Keywords

Open Access
Article
Publication date: 26 July 2022

Congyu Zhao, Xiucheng Dong and Kangyin Dong

Mitigating the energy trilemma (ET) is of great importance for dealing with climate change and realizing carbon neutrality. To this end, effectively assessing the level of…

Abstract

Purpose

Mitigating the energy trilemma (ET) is of great importance for dealing with climate change and realizing carbon neutrality. To this end, effectively assessing the level of the ET is essential. The purpose of this study is to evaluate the current situation and the spatio-temporal changes of the ET in the whole of China.

Design/methodology/approach

Moreover, based on provincial-level data in China for the period 2002–2017, and by using the dynamic estimation model, we aim to determine the specific marginal impacts of smart transportation (ST) on the ET, and the possible channels through which ST works on the ET.

Findings

We thus present the following findings: (1) The performance of both ET and its three pillars is gradually improving in China. Moreover, the situation tends to vary dramatically among various regions and provinces, and the gap between the best performers and the worst is large. (2) ST plays a significant role in inhibiting the ET, a finding that remains robust after a series of tests. And (3) the ET eradication effect of ST is caused mainly by improved innovation, advanced technical efficiency, and the increasing energy scale.

Originality/value

Accordingly, we put forward some policy recommendations to help tackle ET and accelerate ST in China.

Details

Smart and Resilient Transportation, vol. 4 no. 2
Type: Research Article
ISSN: 2632-0487

Keywords

Book part
Publication date: 23 April 2018

Ha Ngoc Pham

This chapter describes how public sector reform (PSR) became important following the ‘Doi Moi’ (renovation) programme in 1986. Restructuring of state-owned sector was…

Abstract

This chapter describes how public sector reform (PSR) became important following the ‘Doi Moi’ (renovation) programme in 1986. Restructuring of state-owned sector was regarded as crucial for ensuring the quality of economic growth, and the Vietnamese government (www.chinhphu.vn/portal/page/portal/English) put considerable effort in PSR. The 8th Party Congress (1996) emphasized the urgent need for a more transparent, capable and modern public sector, including efforts to improve law-making process and capacity, reducing burdensome bureaucracy, fighting corruption, increasing leadership by senior officials and improving public service delivery. The government specifies the national PSR Master programme, and the Ministry of Home Affairs coordinates its implementation among ministries, central agencies and provincial governments. Local political leaders (party leaders) determine reforms based on guidelines of the party and government. The author writes that in spite of ambitious public service reform programmes and some positive achievements, the quality of public sector remains poor. The professional capacity of civil service is low, pay is low, corruption is high and processes and structures seem ill-fitted for the market economy. Reform scope is too broad, the capacity of public agencies and civil servants is limited and existing monitoring, evaluation and reporting systems are weak. In some successes, leaders use appointment and promotion to encourage lower level to implement reforms and training to increase understanding. They believe that Vietnamese leadership has become less proactive and vigorous in practicing or embracing bold reform experiments.

Details

Leadership and Public Sector Reform in Asia
Type: Book
ISBN: 978-1-78743-309-0

Keywords

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