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Article

Syed Moudud-Ul-Huq

This study examines the relationship between banks' competition performance and risk-taking behavior concerning the impacts of bank size and the recent global financial…

Abstract

Purpose

This study examines the relationship between banks' competition performance and risk-taking behavior concerning the impacts of bank size and the recent global financial crisis. The analysis empirically uses dynamic panel data from 1137 banks of the BRICS countries (i.e. Brazil Russia India China and South Africa) for the period 2000–2015.

Design/methodology/approach

Dynamic panel generalized method of moments (GMM) has been used primarily to examine the effect of bank competition on performance and risk-taking. Later the paper validates the core results by using three-stage least squares (3SLS) and incorporating alternative measure of competition in baseline equations.

Findings

This study confirms the significant impact of competition that complies with the structure-conduct-performance hypothesis quiet life hypothesis and “competition fragility” view. However, the key robust results are as follows: (1) in competitive markets large banks are more efficient than small banks; (2) there is a nonlinear relationship between competition performance and risk; (3) across bank size competition heterogeneously affects profitability efficiency risk and stability; (4) notably small banks are as efficient as large banks during crisis but shared with risk; and (5) small banks also stable during crisis in highly concentrated markets but less stable in competitive environments.

Practical implications

This study promotes higher market power for the bank's profitability and financial stability. More intently policymakers should nurture both cost and revenue efficiency for large banks as these are less efficient than small banks in concentrated markets though these banks produce risk. Hence those banks should be cautious to minimize non-performing loans and maximize stability regarding financial and efficiency. Based on the nonlinear pattern of competition the regulators should adopt different policies for short and long run. It also recommends encouraging commercial and cooperative banks in the BRICS region as these are more efficient risk-averse and better stabilized than other types of banks.

Originality/value

A good number of studies are available in the current literature which examines the impact of bank competition on either bank performance or risk-taking in a single country or cross country analysis. However, very few studies examine the relationship between bank performance and risk-taking behavior concerning the impacts of competition (non-linear and quadratic) size financial crisis and ownership structure together. Moreover, there is a dearth of literature on this topic that built on BRICS economies.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

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Article

Romilda Mazzotta, Maria Teresa Nardo, Patrizia Pastore and Giovanna Vingelli

The purpose of this paper is to assess whether the gender composition of the board of directors affects the sensitivity to gender issues in defining university strategies…

Abstract

Purpose

The purpose of this paper is to assess whether the gender composition of the board of directors affects the sensitivity to gender issues in defining university strategies and therefore strategic plans.

Design/methodology/approach

The authors conducted an ordinary least square regression to test the relationship between gender sensitivity approach and board composition in Italian state universities (ISUs). The authors measured the gender sensitivity approach of each university by an index (gender sensitivity approach index) determined based on content analysis. Gender board composition is, instead, analyzed by heterogeneity (homogeneity) index (Herfindahl–Hirschman Index) of the board.

Findings

The finding suggests that, if the board has a certain level of heterogeneity, then university strategic plan (USP) is a more gender-sensitive approach.

Research limitations/implications

The study analyses only the 2018 USPs of ISUs and considers the presence of women within the board, and not their actual role and their position in the university hierarchy.

Practical implications

The practical implication of this study is that if universities want to guarantee gender equality, they should open their boards more widely to women.

Originality/value

To the best of the authors’ knowledge, this is the first work that analyzes the relationships between board composition and sensitivity to gender issues within the USPs. The paper therefore contributes to the literature on governance in the public sector, particularly in universities. Moreover, it stimulates the accounting debate on gender issue and highlights that gender issues cannot be taken up by decision-making bodies that are not heterogeneous enough.

Details

Meditari Accountancy Research, vol. 28 no. 6
Type: Research Article
ISSN: 2049-372X

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Book part

İbrahim Murat BİCİL and Kumru TURKOZ

Introduction: Although the concept of energy security has different meanings for each country, it is included in the energy policies of all countries in general. Energy…

Abstract

Introduction: Although the concept of energy security has different meanings for each country, it is included in the energy policies of all countries in general. Energy security policies have more strategic importance especially for energy-importing countries. Imported energy sources are widely used in Turkey as in many countries. The variety of imported energy sources and the density of imports according to the imported countries affect the security of imported energy supply. Although the high density of imports is a risk factor, there are political and structural factors that may affect economic relations with the countries where energy is imported.

Aim: The aim of this study is to measure the short-term risk for the import of fossil resources in Turkey for the period 1999–2018.

Method: An index has composed by revising the risky external energy supply index included in the study of Le Coq and Paltseva (2009).

Findings: Empirical findings showed that on average, the most risky source of imports based on fossil resources is oil, followed by natural gas and coal respectively.

Originality of the Study: Various risk factors such as fossil fuel import intensity, political risk, and logistics performance have been taken into consideration in the proposed index. So this index proposed for Turkey, is expected to offer a different perspective to the energy supply security literature.

Implications: The proposed risk index has enabled the measurement of the level of risk in imported fossil sources in Turkey. Thus, policy implications have been made for energy supply security.

Details

New Challenges for Future Sustainability and Wellbeing
Type: Book
ISBN: 978-1-80043-969-6

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Abstract

Details

Modeling Economic Growth in Contemporary Russia
Type: Book
ISBN: 978-1-78973-265-8

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Book part

Michael D. Rosko

This chapter assessed internal and external environmental factors that affect variations in rural hospital profitability with a focus on the impact of the Patient…

Abstract

This chapter assessed internal and external environmental factors that affect variations in rural hospital profitability with a focus on the impact of the Patient Protection and Affordable Care Act regulations that resulted in the expansion of Medicaid eligibility, as well as four Medicare programs that target rural hospitals. A cross section of 2,114 rural US hospitals operating during 2015 was used. The primary source of data was Medicare Hospital Cost Reports. Ordinary least squares regression with correction for serial correlation, using total margin and operating margin as dependent variables, was employed to ascertain the association between profitability and its correlates.

The mean values for operating margin and total margin were −0.0652 and 0.0259, respectively. Hospital profitability was positively associated with location in a Medicaid expansion state, classification by Medicare as a Critical Access Hospital or Rural Referral Center (total margin only), hospital size, system membership, and occupancy rate. Profitability was negatively associated with average length of stay, government ownership, Medicare and Medicaid share of admissions, teaching status, and unemployment rate.

This chapter found that the Medicaid expansions provided modest help for the financial condition of rural hospitals. However, the estimates for the four targeted Medicare Programs (i.e., Critical Access Hospital, Medicare Dependent, Sole Community Critical Access Hospital, and Rural Referral Center) were either small or not significant (p > 0.10). Therefore, these specially targeted federal programs may have failed to achieve their goals of preserving the financial viability of rural hospitals. This chapter concludes with implications for practice.

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Article

Efstathios Magerakis and Dimitris Tzelepis

The purpose of this study is to explore the association between cash holdings and business strategy for nonfinancial and nonutility US firms over the period from 1970 to 2016.

Abstract

Purpose

The purpose of this study is to explore the association between cash holdings and business strategy for nonfinancial and nonutility US firms over the period from 1970 to 2016.

Design/methodology/approach

The authors have used Miles and Snow's (1978, 2003) theoretical background and followed Bentley et al. (2013) to construct a strategy index. Thus, the authors have distinguished two extreme corporate strategies, prospectors and defenders, based on a firm's resource allocation and investment behavior patterns. Following the methodology of Bates et al. (2009), the authors have used the multiple regression analysis to explore the relationship between business strategy and corporate cash holdings.

Findings

The empirical results show that business strategy is positively related to cash holdings. Prospectors are more likely to hold higher cash levels than defenders. Furthermore, the authors have found that cash holding's speed of adjustment (SOA) is slower for prospectors than for defenders, suggesting that business strategy influences cash holding's trend. Interestingly, the results show that the market value of cash increases significantly only for the firms that pursue a defender strategy.

Research limitations/implications

The results of this work have valuable implications for researchers, by unveiling the relationship between corporate strategy and firm's cash holdings. This study, however, is limited to a sample of US firms; empirical evidence based on international samples of firms would add value to the current literature.

Practical implications

The findings could be useful to financial managers and investment strategists, who seek to maximize firm value through the adoption of an effective liquidity policy. What is more, this study provides support for the view that strategic choice and optimal cash management are of great importance for firms' market value.

Originality/value

This study enriches the knowledge of business strategy's impact on financing policy of firms and contributes to the empirical literature of cash holdings' determinants. In addition, it complements previous studies on US firms by documenting the effect of business strategy on the SOA in cash holdings and firm value.

Details

Journal of Applied Accounting Research, vol. 21 no. 4
Type: Research Article
ISSN: 0967-5426

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Article

Haris Doukas, Charikleia Karakosta, Alexandros Flamos, Maria Flouri and John Psarras

The European Union (EU) energy supply environment is changing significantly and in a dynamic way, establishing the issue of safe energy imports as main priority. Greece…

Abstract

Purpose

The European Union (EU) energy supply environment is changing significantly and in a dynamic way, establishing the issue of safe energy imports as main priority. Greece relies heavily on energy imports. Furthermore, Greece aims to be elevated into an energy cross road for the energy supply to the EU. In this respect, the aim of this paper is the investigation of the suitability of graph theory concepts on energy supply networks and its application to represent energy corridors to Greece.

Design/methodology/approach

Supporting frameworks to represent and assess the vulnerability of the corridors satisfying the Greek demand in oil and gas are considered a crucial issue and are presented in this paper, based on the graph theory approach. In addition, a pilot application of the shortest path algorithm and the maximum flow at minimum risk algorithm for the oil and gas corridors to Greece is presented and discussed.

Findings

This paper introduces the application of graph theory to energy policy analysis. Indeed, the pilot application in oil and gas supply corridors to Greece, although quite simplified, has indicated the applicability of graph theory concepts in such problems and is considered a step forward of the existing studies, supporting the design efforts towards the development of a more reliable energy supply system.

Originality/value

To the best of the authors' knowledge, graph theory's application to energy corridors is not available in the international literature. In this respect, the added value of the paper is the provision of a sufficient decision support framework for the representation and assessment of the energy corridors' risk of energy availability, through the application of graph theory.

Details

International Journal of Energy Sector Management, vol. 5 no. 1
Type: Research Article
ISSN: 1750-6220

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Article

Soojin Kim and Qiushi Wang

This article aims to examine empirically the relationship between budget periodicity and expenditure volatility in state governments. Using a large panel dataset for fifty…

Abstract

This article aims to examine empirically the relationship between budget periodicity and expenditure volatility in state governments. Using a large panel dataset for fifty states over the years 1960-2012, after controlling for institutional, economic, and political factors, we find general expenditure of biennial states has been significantly less volatile than that of annual states. The finding suggests that a choice between annual and biennial budget period can emerge as a feasible and effective countercyclical strategy to overcome fiscal difficulties in the short run and promote fiscal stability in the long run.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 27 no. 4
Type: Research Article
ISSN: 1096-3367

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Article

Youngsu Lee, Joonhwan In and Seung Jun Lee

As social media platforms become increasingly popular among service firms, many US hospitals have been using social media as a means to improve their patients…

Abstract

Purpose

As social media platforms become increasingly popular among service firms, many US hospitals have been using social media as a means to improve their patients’ experiences. However, little research has explored the implications of social media use within a hospital context. The purpose of this paper is to investigate a hospital’s customer engagement through social media and its association with customers’ experiential quality. Also, this study examines the role of a hospital’s service characteristics, which could shape the nature of the interactions between patients and the hospital.

Design/methodology/approach

Data from 669 hospitals with complete experiential quality and demographic data were collected from multiple sources of secondary data, including the rankings of social media friendly hospitals, the Hospital Compare database, the Center for Medicare and Medicaid (CMS) cost report, the CMS impact file, the Healthcare Information and Management Systems Society Analytics database and the Dartmouth Atlas of Health Care. Specifically, the authors designed the instrumental variable estimate to address the endogeneity issue.

Findings

The empirical results suggest a positive association between a hospital’s social media engagement and experiential quality. For hospitals with a high level of service sophistication, the association between online engagement and experiential quality becomes more salient. For hospitals offering various services, offline engagement is a critical predictor of experiential quality.

Research limitations/implications

A hospital with more complex services should make efforts to engage customers through social media for better patient experiences. The sample is selected from databases in the US, and the databases are cross-sectional in nature.

Practical implications

Not all hospitals may be better off improving the patient experience by engaging customers through social media. Therefore, practitioners should exercise caution in applying the study’s results to other contexts and in making causal inferences.

Originality/value

The current study delineates customer engagement through social media into online and offline customer engagement. This study is based on the theory of customer engagement and reflects the development of mobile technology. Moreover, this research may be considered as pioneering in that it considers the key characteristics of a hospital’s service operations (i.e., service complexity) when discovering the link between customers’ engagement through a hospital’s social media and experiential quality.

Details

Journal of Services Marketing, vol. 34 no. 6
Type: Research Article
ISSN: 0887-6045

Keywords

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Book part

Katalin Szemeredi

This paper provides a primer on European multinational business groups (BGs) and their subsidiaries. Firms in these BGs appear to have higher sales performance than firms…

Abstract

This paper provides a primer on European multinational business groups (BGs) and their subsidiaries. Firms in these BGs appear to have higher sales performance than firms in domestic groups (15% higher). This leads us to investigate which elements increase the likelihood that a group will transition towards multinational status. BGs’ characteristics matter for foreign acquisition: groups becoming multinational are usually larger, have a more hierarchical structure with respect to the number of layers in a group, and are more diverse in terms of sectors. Groups tend to expand into bordering countries or countries providing particular advantages, such as a large internal market. The first acquisition is a corporate-level decision that appears to be made by the group’s controlling firm and is often a diversification into a different industry.

1 – 10 of 442