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1 – 10 of over 2000
Article
Publication date: 9 January 2024

Salwa Bin Idrees, Syed Musa Alhabshi, Ashurov Sharofiddin and Anwar Hasan Abdullah Othman

The purpose of this study is to frame the dimensions of the external institutional environment, namely, cultural-cognitive, normative and regulative dimensions as the main actors…

Abstract

Purpose

The purpose of this study is to frame the dimensions of the external institutional environment, namely, cultural-cognitive, normative and regulative dimensions as the main actors in the organisational field. More precisely, Libyan commercial banks have been identified as empirical evidence, to identify constraints of the institutional environment governing the behaviour and decision-making of commercial banks, when adopting Islamic financial transactions.

Design/methodology/approach

A questionnaire has been designed for 14 Libyan commercial banks which is distributed to the Board of Directors, managers, directors of departments, and personnel. The exploratory factor analysis (EFA) and the measurement model by using the first-order and second-order confirmatory factor analysis (CFA) have been applied as essential steps to embody the conceptual framework and test the research hypotheses.

Findings

The results of the EFA indicated sufficient correlation among the dimensions of the external environment. The CFA supported this study’s hypotheses. The modelling showed that the cultural-cognitive, normative and regulative dimensions are institutional constraints impeding Libyan commercial banks’ adoption of Islamic financial transactions. Interestingly, the findings of the CFA align with the EFA findings in supporting the conceptual framework of the research. They portrayed that the cultural-cognitive dimension has been identified by explicit and implicit cognition.

Originality/value

This study systematically embodies the dimensions of the external institutional environment, namely, cultural-cognitive, normative and regulative dimensions, as the main factors in the organisational field to be conceptually rich lenses to investigate social considerations to reinforce institutional thought broadly. The results of this study were consistent with extant Islamic financial literature, reflecting symmetry and similarity across commercial banks, particularly at the first stage of adopting Islamic financial transactions.

Details

International Journal of Ethics and Systems, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9369

Keywords

Open Access
Article
Publication date: 13 March 2024

Keanu Telles

The paper provides a detailed historical account of Douglass C. North's early intellectual contributions and analytical developments in pursuing a Grand Theory for why some…

Abstract

Purpose

The paper provides a detailed historical account of Douglass C. North's early intellectual contributions and analytical developments in pursuing a Grand Theory for why some countries are rich and others poor.

Design/methodology/approach

The author approaches the discussion using a theoretical and historical reconstruction based on published and unpublished materials.

Findings

The systematic, continuous and profound attempt to answer the Smithian social coordination problem shaped North's journey from being a young serious Marxist to becoming one of the founders of New Institutional Economics. In the process, he was converted in the early 1950s into a rigid neoclassical economist, being one of the leaders in promoting New Economic History. The success of the cliometric revolution exposed the frailties of the movement itself, namely, the limitations of neoclassical economic theory to explain economic growth and social change. Incorporating transaction costs, the institutional framework in which property rights and contracts are measured, defined and enforced assumes a prominent role in explaining economic performance.

Originality/value

In the early 1970s, North adopted a naive theory of institutions and property rights still grounded in neoclassical assumptions. Institutional and organizational analysis is modeled as a social maximizing efficient equilibrium outcome. However, the increasing tension between the neoclassical theoretical apparatus and its failure to account for contrasting political and institutional structures, diverging economic paths and social change propelled the modification of its assumptions and progressive conceptual innovation. In the later 1970s and early 1980s, North abandoned the efficiency view and gradually became more critical of the objective rationality postulate. In this intellectual movement, North's avant-garde research program contributed significantly to the creation of New Institutional Economics.

Details

EconomiA, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1517-7580

Keywords

Article
Publication date: 11 August 2022

Shaohui Gao and Yiming He

This paper aims to take a step in this direction and use the high dimensional fixed effects and quantile regression discontinuity design to test the managerial Coase theorem…

Abstract

Purpose

This paper aims to take a step in this direction and use the high dimensional fixed effects and quantile regression discontinuity design to test the managerial Coase theorem, which provides an institutional perspective for us to gauge the impact of private property rights on firm performance and the effect of management costs on intermediate inputs.

Design/methodology/approach

This study first uses high dimensional regression discontinuity designs to examine the impact of privatization on firm performance in China between 1998 and 2013.

Findings

Results indicate that privatization effects increase average outputs of the firm by around 10% given lower management costs, and management costs increase intermediate inputs by more than 50% points. Using data from annual surveys to test managerial Coase theorem, the authors show that management costs negatively affect the marginal effect of privatization on the average outputs of the firm. The positive impact on the investment in intermediate goods and services is larger in magnitude under higher management costs.

Originality/value

The authors develop the managerial Coase theorem. Today, given lower management costs, private property rights provide an incentive structure for a firm to maximize the value of the assets and expand the boundaries.

Details

Chinese Management Studies, vol. 17 no. 5
Type: Research Article
ISSN: 1750-614X

Keywords

Article
Publication date: 6 February 2024

Bighnesh Dash Mohapatra, Chandan Kumar Sahoo and Avinash Chopra

The purpose of this study is to explore and prioritize the factors that determine the social insurance contribution of unorganized workers.

Abstract

Purpose

The purpose of this study is to explore and prioritize the factors that determine the social insurance contribution of unorganized workers.

Design/methodology/approach

A two-stage procedure was adopted to recognize and prioritize factors influencing the social insurance participation of unorganized workers: first, crucial factors influencing unorganized workers’ contribution towards social insurance were identified by employing exploratory factor analysis, and in the second phase, the fuzzy analytical hierarchal process was applied to rank the specified criteria and then sub-criteria by assigning weights.

Findings

Four broad factors were identified, namely, economic, political, operational and socio-psychological, that significantly influence unorganized workers’ contribution towards social insurance. Later findings revealed that the prime influencer of unorganized workers’ contribution is employment contracts followed by average earnings, delivery of quality services, eligibility and accessibility.

Practical implications

The research findings are feasible as the basic propositions are based on real-world scenario. The identification and ranking of factors have the potential to be used as a checklist for policymakers when designing pension and social insurance for unorganized workers. If it is not possible to consider all, the criteria and sub-criteria assigned upper rank can be given priority to extend pension coverage for a large group of working poor.

Social implications

The key factors driving social insurance contributions have been highlighted by studying the stakeholders’ perceptions at a micro level. By comprehending the challenges, there is a possibility of covering a large section of the working poor into social insurance coverage.

Originality/value

This paper is believed to be one of its kinds to acknowledge a combination of factors that determine the contribution of unorganized workers to social insurance. This study is an empirical investigation to prioritize the essential drivers of social insurance participation by low-income cohorts in the context of emerging countries. The present approach of employing fuzzy logic has also very limited use in social insurance literature yet.

Details

Benchmarking: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-5771

Keywords

Open Access
Article
Publication date: 9 May 2023

Emmanuel Ogiemwonyi Arakpogun, Jason Whalley, Roseline Wanjiru, Ziad Elsahn and Rama Krishna Reddy Kummitha

The purpose of this paper is to provide evidence-based policy recommendations for improving the implementation of universal service funds (USF) with a view to closing the digital…

40536

Abstract

Purpose

The purpose of this paper is to provide evidence-based policy recommendations for improving the implementation of universal service funds (USF) with a view to closing the digital divide in Africa.

Design/methodology/approach

The paper adopts a qualitative approach that draws examples from various African countries supported by 25 interviews from key stakeholders with hands-on experience and roles that shape telecommunications policy in Africa and other developing countries.

Findings

The study's findings point out that institutional voids which characterize several African countries inhibit the effectiveness of USF in African countries. The authors identify several institutional and organisational factors and explain how they negatively affect the performance of USF. The authors find that in order to overcome these obstacles, there is a need for a clear redefinition of Universal Access and Service (UAS) policies, restructuring the governance of USF, encouraging cross-sectoral collaborations, and bottom-up initiatives to bridge the digital divide in African countries.

Originality/value

The paper contributes to the underexplored USF literature by shedding light on the role of institutional factors in determining the success of USF. The paper thus complements and provides a different perspective on promoting digital inclusion in Africa from the viewpoint of institutional voids, bringing new insights into the existing literature on how to deal with an intractable area of UAS policy and the wider digital divide debate in developing countries.

Details

Information Technology & People, vol. 36 no. 8
Type: Research Article
ISSN: 0959-3845

Keywords

Article
Publication date: 13 June 2023

Jiaxin Duan, Yixin (Lucy) Wei and Lei Lu

This study aims to examine the behaviour of institutional and retail investors in response to news about industry leaders (peer firms) and to determine its impact on the stock…

Abstract

Purpose

This study aims to examine the behaviour of institutional and retail investors in response to news about industry leaders (peer firms) and to determine its impact on the stock prices of other firms (focal firms) within the same industry.

Design/methodology/approach

The study investigates the impact of peer news on investor behaviour of Chinese A-shares listed on the Shanghai and Shenzhen Stock Exchanges from 2010 to 2019. The media coverage of industry leaders is sourced from prominent Chinese online financial outlets and the Chinese Financial Press. Support vector machine is applied to identify the positive, neutral and negative news within the articles. The study uses event study and logistic regression to examine the effects of peer news on focal firms’ investor behaviour.

Findings

The results show that both good and bad news about leaders cause peers’ stock prices to increase initially, but then reverse within one quarter. Further analysis reveals that when leaders’ shares receive positive news coverage, institutional investors tend to exert excessive abnormal buying pressure on peers’ shares, resulting in overreactions. Conversely, retail investors do not actively trade on peers on leaders’ news day due to limited attention. In addition, the study shows that short-selling constraint inhibits bad news from reflecting in the stock prices.

Originality/value

The study highlights differences in investor behaviour. The finding that institutional investors tend to overreact more to peer firms’ news when focal firms are smaller and have a lower frequency of information disclosure supports the salient theory. This is consistent with the previous framework that suggests overreaction is more pronounced when it is difficult to combine external sources of information to evaluate the focal firms. In contrast, retail investors do not engage in active trading on peers on leaders’ news day due to the limited attention theory.

Details

Pacific Accounting Review, vol. 35 no. 4
Type: Research Article
ISSN: 0114-0582

Keywords

Article
Publication date: 29 May 2023

Hazwan Haini, Roslee Baha and Pang Wei Loon

This study examines the interconnected effects of formal, informal, environmental and skill-based institutional barriers on firm performance. The Economic Community of West…

Abstract

Purpose

This study examines the interconnected effects of formal, informal, environmental and skill-based institutional barriers on firm performance. The Economic Community of West African States (ECOWAS) region has implemented various reforms and policy initiatives to support small businesses yet are unsuccessful as formal institutional framework and governance remains a challenge.

Design/methodology/approach

The authors employ a sample of 3,515 small and medium enterprises (SMEs) from the ECOWAS and a two-stage instrumental variable approach to control for endogeneity. Additionally, the authors check for robustness using various measures of firm performance such as profitability, productivity and export intensity.

Findings

The authors confirm that formal institutions are insignificant for firm profitability and productivity, whilst reducing informal, environmental and skill-based institutional barriers are associated with firm performance. However, when barriers to informal, environmental and skill-based institutions are at the lowest, formal institutions are associated with firm performance.

Research limitations/implications

The major limitation lies in the policy implications. Informal institutions come into play when formal institutions are weak. However, informal practices must be addressed in the form of formal enforcement. This leads to a conundrum.

Practical implications

Policymakers should continue to market-supporting institutions and a conducive business environment to complement the formal institutional framework.

Originality/value

This study provides new empirical evidence on how institutional quality affects firm performance by examining whether other institutional factors, such as the informal, environmental and skill-based institutional barriers, can moderate this effect.

Details

International Journal of Sociology and Social Policy, vol. 43 no. 11/12
Type: Research Article
ISSN: 0144-333X

Keywords

Article
Publication date: 7 December 2023

Imam Arafat, Suzanne Fifield and Theresa Dunne

The current study investigates the impact of directors' attributes on the extent of compliance with International Financial Reporting Standards (IFRS) fair value disclosure…

Abstract

Purpose

The current study investigates the impact of directors' attributes on the extent of compliance with International Financial Reporting Standards (IFRS) fair value disclosure requirements. The attributes investigated include directors' human capital (accounting qualification) and social capital (political association), directors' share ownership and the power distance between the chief executive officer (CEO) and the rest of the board members.

Design/methodology/approach

The study uses disclosure analysis to measure the extent of compliance with the fair value disclosure requirements of IFRS. Ordinary least squares (OLS) regression is used to test the relationship between the disclosure score and directors' attributes. Data were collected from the annual reports and websites of the sample companies.

Findings

Contrary to conventional belief, this study's findings suggest that directors' social capital and the power distance between the CEO and the rest of the board act as more powerful factors than directors' human capital in explaining corporate mandatory disclosure. Specifically, the results indicate that powerful actors form a dominant coalition and co-opt influential constituents from the institutional domain to neutralize the effect of legal coercion and the accounting expertise of board members and Big Four audit firms on the extent of compliance with institutional (fair value) rules.

Research limitations/implications

This study utilizes Oliver's (1991) framework of strategic response to institutional processes in the Bangladeshi context. Although the study provides new insights into corporate disclosure practices, findings are not generalizable due to different institutional settings in different countries. Therefore, future studies could replicate the approach in different institutional settings.

Practical implications

The findings of this study will be of interest to the International Accounting Standards Board (IASB) as it focuses on a developing country that has adopted IFRS 13 and other fair value-related standards relatively recently.

Originality/value

The disclosure analysis contained in this study represents the first comprehensive analysis of the extent of compliance with the fair value disclosure requirements of IFRS. Furthermore, this study considers the impact of directors' social capital and finds that it is a more powerful determinant of the extent of compliance with IFRS as compared to human capital.

Details

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

Keywords

Article
Publication date: 20 February 2024

Ödül Bozkurt, Chul Chung, Norifumi Kawai and Motoko Honda-Howard

The paper aims to provide an understanding of how the transfer of progressive human resource management (HRM) practices may or may fail to render multinational enterprises (MNEs…

Abstract

Purpose

The paper aims to provide an understanding of how the transfer of progressive human resource management (HRM) practices may or may fail to render multinational enterprises (MNEs) institutional entrepreneurs creating change in job quality and decent work to underprivileged workers in the low-pay retail sector in Japan.

Design/methodology/approach

The paper draws on survey questionnaire data and interviews with workers and management in a foreign retailer in Japan.

Findings

The findings suggest that even where MNEs may provide some measurable material improvements in job quality, in this case equal pay for equal work, the total outcomes are nevertheless shaped by institutional context and constraints. In this case, the improvement in pay was intertwined with flexibility demands that were possible to meet for some workers but not others. In particular, women with care responsibilities and competing demands on their time were not able to experience “decent work” in the same way as others.

Research limitations/implications

The study had a relatively low response rate, due to lack of discretion over time experienced by workers in Japan, as well as limited data on program outcomes, with interviews conducted with a small number of participants.

Practical implications

The study suggests that spaces and opportunities exist for MNEs to diverge from dominant practices in given host country locations and exercise a level of agency as emissaries of decent work but successful outcomes require a very thorough understanding of individual worker experiences within the institutional constraints of given environments.

Social implications

The study offers insights into the complexities of initiatives by MNEs to contribute to the provision of decent work, particularly for workers in underprivileged positions including women in low-pay sectors such as retail, as firm-level practices lead to variable outcomes when filtered through local institutions.

Originality/value

The study brings together a focus on firm-level practices that inform much of the international HRM and international management scholarship with an emphasis on the experiences of workers, which is pursued in the sociology of work, to investigate whether MNEs can be actors in the realising of the Sustainable Development Goals around decent work.

Details

Critical Perspectives on International Business, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1742-2043

Keywords

Article
Publication date: 1 December 2023

Deema Refai, Nermin Elkafrawi and Peter Gittins

This article aims to explore whether and how rural entrepreneurs (REs) navigate the challenges they face to support rural development, with a particular focus on sustainable…

Abstract

Purpose

This article aims to explore whether and how rural entrepreneurs (REs) navigate the challenges they face to support rural development, with a particular focus on sustainable entrepreneurial development in Jordan.

Design/methodology/approach

Drawing on structuration theory (Giddens, 1984), the article is underpinned by the position-practice perspective and its four interrelated elements: praxis, positioning, capabilities and trust. A qualitative methodology is applied to explore the case study of Deserttulip in Jordan and its utilisation of the innovative agricultural Groasis Waterboxx-Technology (GroasisWBT).

Findings

Findings indicate that the position-practice of rural entrepreneurs becomes contextualised between enablers and constraints that shape entrepreneurs' praxis, positioning, capabilities and trust. Pervasive constraints are evidenced by limiting external structures and resources. Yet, these are challenged by enablers observed through the agentic roles of REs and the utilisation of innovative tools in ways that minimise the limitations of constrained contexts.

Practical implications

The article has practical implications within countries with extreme constraints – including environmental (drought), financial and institutional constraints – where collective sustainable initiatives, alongside the utilisation of innovative tools, are called for in order to minimise the impact of limited resources and institutional support whilst promoting empowerment, cohesion and sustainable entrepreneurial development.

Originality/value

The article highlights the specificity of constrained entrepreneurship in ways that allow re-interpreting position-practice of rural entrepreneurs around collective social systems rather than individual entrepreneurs. A sustainable ripple is conceptualised, whereby expanding sustainable entrepreneurial development initiatives are observed around collective acts that stress the accountability and mutual dispositions of rural entrepreneurs towards developing and sustaining their contexts.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 30 no. 1
Type: Research Article
ISSN: 1355-2554

Keywords

1 – 10 of over 2000