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1 – 10 of 272Alfredo A. Romero and Jeffrey A. Edwards
Injections of foreign direct investment (FDI) are often followed by injections of foreign culture which may not be well received among the local population. If this is the case…
Abstract
Purpose
Injections of foreign direct investment (FDI) are often followed by injections of foreign culture which may not be well received among the local population. If this is the case, culture may impede any positive externalities from FDI. On the other hand, if the people of the host country embrace injections of FDI, this may lead to boosts in not only short-run factors of production but also longer-term technological spillovers. We measure what role cultural make-up of a country plays on the effect of FDI on growth in GDP.
Design/methodology/approach
Using values system data from the World Values Survey (WVS), and socioeconomic data from the World Bank, we estimate and plot the marginal effect of FDI on growth as a function of a country's values system for a panel of 73 countries over a span of three decades.
Findings
We find that the marginal effect of FDI on growth in GDP differs across varying degrees of cultural values, even after adjusting for level of development. In other words, our analysis indicates that a country's cultural norms do indeed affect foreign investment's impact on economic growth.
Originality/value
To date there is no research that systematically assesses the effect that cultural make-up has on the marginal effect of FDI on growth. We go beyond the use of isolated cultural variables by using data on cultural dimensions that account for most of the observed cultural differences between countries. We believe our findings will work as a launchpad for more novel ways to capture country heterogeneity in growth research.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-09-2019-0549.
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Jeffrey A. Edwards and Jennis J. Biser
The purpose of this paper is to investigate the level of influence that civil liberties has on the marginal effect of remittances on gross domestic investment and consumption…
Abstract
Purpose
The purpose of this paper is to investigate the level of influence that civil liberties has on the marginal effect of remittances on gross domestic investment and consumption separately and measures it across all levels of civil liberties.
Design/methodology/approach
The authors employ a two‐stage system generalized method of moments procedure and the civil liberties subset of the Freedom in the World Index as a proxy for civil liberty.
Findings
The findings indicate a substitution effect from investment to consumption as civil liberties deteriorate for developing south economies, though not for emerging economies. In addition, the marginal effect of remittances on investment diminishes less quickly as economies become less free than it increases for consumption indicating that the substitution is not quite one‐for‐one.
Practical implications
Economies with low levels of civil liberties could benefit by improving them in ways that would encourage recipients to channel remittances into investment rather than consumption.
Originality/value
This paper differs from previous research in that the authors evaluate investment and consumption separately rather than embedding these component parts within growth. In addition, when interactions are employed in existing literature, the inference drawn is static with regard to the varying degrees of institutional development. Third, none of the prior studies directly explores civil liberties proper; they usually aggregate civil liberties with other aspects of political or economic freedom.
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Jeffrey Boon Hui Yap, Pak Lian Low and Chen Wang
Rework is detrimental to project outcomes. However, there is still a lack of attention about rework within the Malaysian construction industry. The purpose of this paper is to…
Abstract
Purpose
Rework is detrimental to project outcomes. However, there is still a lack of attention about rework within the Malaysian construction industry. The purpose of this paper is to investigate the effect of rework on schedule and cost performance, to explore the causes of rework and to propose effective measures to minimise the occurrence of rework in building construction projects in Malaysia.
Design/methodology/approach
Using a sample of 114 construction stakeholders consisting of 39 clients, 36 consultants and 39 contractors from the Klang Valley region, the authors investigated the variables on rework through a questionnaire survey. The level of importance of the causes and the potential solutions was ranked and correlated.
Findings
From the primary data analysis, the study on Malaysian building projects unveiled the cost of rework to range from 3.1 to 6.0 per cent of the project value and the schedule growth due to rework to range from 5.1 to 10.0 per cent. The significant causes of rework were identified and prioritised. The 18 causes were further categorised into five underlying dimensions by using a factor analysis. Effective rework reduction measures were also given. Finally, the relationships between the causes of rework and the potential solutions were identified using correlation tests.
Research limitations/implications
While this study is limited to rework in Malaysian building construction, rework in infrastructure projects is a potential area to discover new causes and possible solutions.
Practical implications
This paper provides insights into the effects of rework to project outcomes, causes of rework and feasible solutions in reducing rework in building construction projects.
Originality/value
Rework has been the focal point of research; however, empirical studies on rework have been under-represented in the Malaysian construction industry. This paper seeks to fill the gap by conducting an in-depth investigation on rework in the context of Malaysia.
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James P. Walsh, B. Joseph White and Jeffrey R. Edwards
This paper contains a commentary on the paper by Aguinis, Martin, Gomez-Mejia, O’Boyle and Joo published in this same issue. This paper aims to encourage the readers to examine…
Abstract
Purpose
This paper contains a commentary on the paper by Aguinis, Martin, Gomez-Mejia, O’Boyle and Joo published in this same issue. This paper aims to encourage the readers to examine this novel insight in future research but sadly, to disregard the results of this particular investigation.
Design/methodology/approach
Google Scholar tells us that, over a quarter of a million studies examine the relationship between CEO compensation and firm performance. Aguinis et al. (2018) take much of that work to task. Observing that the distribution of CEO compensation is skewed, they question any work that assumes a normal distribution. Correcting the flaw, Aguinis et al. (2018) conduct their own investigation of this important relationship. Contrary to previous work, they find no consistent empirical relationship between pay and performance. The authors review and discuss their work with a clear eye on its implications for improving our understanding of these relationships.
Findings
The authors cannot accept the results of the Aguinis et al. (2018) investigation as it stands. Saying why, they close their commentary with some ideas that should help one understand whether accounting for a skewed CEO pay distribution really does revolutionize one’s understanding of corporate governance.
Practical implications
The statistical insight provided by Aguinis et al. (2018) yields provocative, if not profound, practical implications. While the authors’ review is critical, they aim to foster continued inquiry, not shut it down.
Objetivo
El objetivo del presente comentario del articulo de Aguinis, Martin, Gomez-Mejia, O’Boyle and Joo (publicado en este mismo número) es el de motivar a sus lectores a examinar la nueva intuición que proporciona en el futuro pero, tristemente, desestimar los resultados de este trabajo en concreto.
Diseño/metodología/aproximación – Google Scholar indica que hay más de un cuarto de millón de estudios que analizan la relación entre la retribución del CEO y los resultados empresariales. Aguinis et al., (2018) analizan gran parte de este trabajo. Tras observar que la distribución de la retribución del CEO es asimétrica, cuestionan cualquier trabajo que asuma una distribución normal. Corriendo este aspectos Aguinis et al. (2018) llevan a cabo su propio análisis en este importante tema. Contrariamente a otros trabajos previos estos autores no encuentran una relación consistente entre la retribución y los resultados. Revisamos y discutimos su trabajo con un ojo en las implicaciones para la comprensión de esta relación.
Resultados – No podemos aceptar los resultados de Aguinis et al. (2018) en su forma actual. Señalando porqué, cerramos nuestro comentario con algunas ideas que deben ayudarnos a entender si tomando en cuenta la asimetría de la distribución de la retribución del CEO realmente es una revolución para nuestra comprensión del gobierno corporativo de las empresas.
Implicaciones – La evidencia aportada por Aguinis et al. (2018) genera provocadoras, si no profundas, implicaciones prácticas. Si bien nuestro comentario es crítico, es nuestro deseo abrir – y no cerrar – el debate para considerar este importante tema.
Originalidad/valor – El comentario revisa de manera crítica las conclusiones del artículo publicado por Aguinis y colegas en este mismo número.
Objetivo
O objetivo do presente comentário do artigo de Aguinis, Martin, Gomez-Mejia, O’Boyle e Joo (publicado neste mesmo número) é motivar aos seus leitores a examinar a nova intuição que proporciona no futuro mas, infelizmente, desestimar os resultados deste trabalho em concreto.
Metodologia – O Google Scholar diz-nos que mais de duzentos e cinquenta mil estudos examinam a relação entre compensação do CEO e performance da empresa. Aguinis et al. (2018) examinam uma boa parte desses estudos. Observando que a distribuição da compensação do CEO é enviesada, eles questionam os trabalhos que assumem uma distribuição normal. Corrigindo a falha, Aguinis et al. (2018) conduzem a sua própria investigação desta relação. Contrariamente a trabalho anterior, eles não encontram uma relação empírica consistente entre pagamento e performance. Revemos e discutimos o seu trabalho com enfoque especial nas suas implicações para a compreensão destas relações.
Resultados – Não podemos aceitar os resultados da investigação de Aguinis et al. (2018) tal como está. Dizendo porquê, terminamos o nosso comentário com algumas ideias que nos ajudam a perceber se dar conta duma distribuição enviesada de compensação do CEO realmente revoluciona a nossa compreensão da governança corporativa.
Implicações – A evidência estatística de Aguinis et al. (2018) levanta implicações práticas provocadoras, se não mesmo profundas. Sendo a nossa revisão crítica, pretendemos abrir – e não fechar – a continuação da consideração destes assuntos.
Originalidade/valor – O comentário faz uma revisão crítica das conclusões do artigo de Aguinis e colegas, neste número.
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Keywords
- Corporate governance
- Research methods
- Firm performance
- Chief executive officer (CEO) compensation
- CEO pay
- Pay-for performance
- Retribución del consejero delegado (CEO)
- Rendimiento empresarial
- Retribución por resultados
- Gobierno corporativo
- Compensação do chief executive officer (CEO)
- Performance da empresa
- Pagamento pela performance
- Governação corporativa
Rob Gray, Jan Bebbington and David Collison
The purpose of this research is to seek to understand and explain the non‐governmental organisation (NGO) and its location in civil society in order to provide a basis for future…
Abstract
Purpose
The purpose of this research is to seek to understand and explain the non‐governmental organisation (NGO) and its location in civil society in order to provide a basis for future research work. The paper aims to explore and develop understandings of accountability specifically in the context of the NGO and then extend these insights to the accountability of all organisations.
Design/methodology/approach
The paper is framed within a theoretical conception of accountability and is primarily literature‐based. In addition secondary data relating to the issues of concern are collated and synthesised.
Findings
The research finds that the essence of accountability lies in the relationships between the organisation and the society and/or stakeholder groups of interest. The nature of this relationship allows us to infer much about the necessary formality and the channels of accountability. In turn, this casts a light upon taken‐for‐granted assumptions in the corporate accountability and reminds us that the essence and basis of success of the corporate world lies in its withdrawal from any form of human relationship and the consequential colonisation and oppression of civil society.
Research limitations/implications
The principal implications relate to: our need to improve the analytical incisiveness of our applications of accountability theory; and the possibility of the accounting literature offering more developed insights to the NGO literature. The primary limitations lie in the paper in being: exploratory of a more developed understanding of accountability; and a novel excursion into the world of the NGO and civil society – neither of which feature greatly in the accounting literature.
Practical implications
These lie in the current political struggles between civil society and capital over appropriate forms of accountability. Corporations continue to avoid allowing themselves to be held accountable whilst civil society organisations are often accountable in many different and informal ways. Ill‐considered calls from capital for more oppressive NGO accountability are typically, therefore, hypocritical and inappropriate.
Originality/value
NGOs are introduced in a detailed and accessible way to the accounting literature. The concept of accountability is further developed by examination of relationships and channels in the context of the NGO and, through Rawls' notion of “closeness”, is further enriched.
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Jeffrey Joseph Haynie, C. Brian Flynn and Shawn Mauldin
The authors examined the simultaneous indirect effects of proactive personality (PP) and core self-evaluations (CSEs) on the work outcomes of employee task performance and…
Abstract
Purpose
The authors examined the simultaneous indirect effects of proactive personality (PP) and core self-evaluations (CSEs) on the work outcomes of employee task performance and affective organizational commitment (AOC) via job engagement. Additionally, the authors tested the potential energizing capacity of high negative work affect in this process. The paper aims to discuss these issues.
Design/methodology/approach
Data were collected from a sample of teachers in the South-Eastern USA (n=193). The online survey assessed PP, CSE, work affect, job engagement and AOC. Employee task performance was obtained from archival sources.
Findings
The results indicated that job engagement mediated the relationships of PP and CSE with employee task performance and AOC. Additionally, negative work affect strengthened the PP-job engagement-work outcomes relationship when it was high.
Research limitations/implications
PP and CSE individuals appear to devote their job engagement energies for differing reasons. These distinctions are further supported by high negative work affect being found to bolster the PP-job engagement-work outcomes relationship only. Future research should continue to investigate the unique contributions made by PP and CSE to job engagement.
Originality/value
By examining PP, CSE, negative work affect and job engagement within a conservation of resources (COR) lens, the authors were able to further distinguish through interpretation of the findings the motivational aspects of PP and CSE as well as providing an instance where negative work affect can incite additional job engagement.
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Brendan O'Dwyer and Jeffrey Unerman
The purpose of this paper is to analyse the evolving nature of the accountability relationship between a group of Irish non‐governmental development organisations (NGDOs) and…
Abstract
Purpose
The purpose of this paper is to analyse the evolving nature of the accountability relationship between a group of Irish non‐governmental development organisations (NGDOs) and their primary governmental funder.
Design/methodology/approach
The examination is undertaken in the context of a unique funder‐led initiative to instil a broad social accountability focus among NGDOs while re‐orienting the NGDO‐funder accountability dynamic towards a partnership‐based approach – whereby the accountability entity would effectively be a supra‐organisation comprising the funder and the NGDOs. The empirical content of the paper is derived from a series of in‐depth interviews with senior individuals working within the Irish NGDO sector, along with a comprehensive analysis of documentary sources.
Findings
The partnership rhetoric central to promoting the enhanced focus on social accountability across the “virtual” accountability supra‐organisation has not been transformed into reality, and the NGDO‐funder accountability relationship within the supra‐organisation remains centred on control and justification. A lack of resources, organisational commitment, guidance, and expertise from the governmental funder has contributed to an attitude of scepticism among many NGDOs towards both the partnership rhetoric and the accompanying adoption of the central tenets of social accountability, particularly downward accountability to beneficiaries.
Research limitations/implications
The research is based on a detailed analysis in a specific context which may limit its wider applicability. Nevertheless, it adds insights to the developing academic literature on NGO accountability, with particular reference to their broader social accountabilities.
Practical implications
Although highly context‐specific, the findings of the study will be useful to researchers and policy makers interested in understanding how NGDO‐funder accountability relationships can move towards mutual accountability and genuine partnerships focused on promoting social accountability.
Originality/value
Very few in‐depth academic examinations of the evolving nature of NGDO‐funder accountability relationships in specific NGO contexts have emerged in the accountability literature. Many of the insights in this paper are derived from individuals inside organisations in the NGDO sector who are regularly addressing issues of accountability, both social and otherwise. This provides in‐depth, highly‐informed insider perspectives on the evolving nature of these relationships, especially in the context of attempts to promote more partnership‐based approaches to the delivery of development aid.
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Austin Eggers and Jeffrey Hobbs
This study aims to make the reader aware of recent changes in the white supremacist movement and how such changes have altered the ways in which the movement can be combatted.
Abstract
Purpose
This study aims to make the reader aware of recent changes in the white supremacist movement and how such changes have altered the ways in which the movement can be combatted.
Design/methodology/approach
The authors study the movement in two periods: from 1970 to 2005 and from 2006 onward. The authors contrast the two periods and discuss the legal and financial issues within each.
Findings
The authors find that while legal concepts such as vicarious liability and respondeat superior apply today just as they did before, new tools are needed to fight the new means of financing the movement.
Research limitations/implications
The main limitation of this study is the lack of quantitative data. Because the “alt-right” became popular around 2015, there has not been enough time for the construction of detailed data sets.
Practical implications
While many law papers have explored the white supremacist movement, the financing side has gone under-analyzed in scholarly research. This is important in light of the rise of the internet, online payment processors, cryptocurrencies and remote organizing and fundraising.
Social implications
The 2017 Charlottesville rally was organized and financed via podcasts, online forums, encrypted chats and anonymous payments. Since then, the movement has mostly gone underground and has become more violent and radical as many members have come to believe that marches and politics do not help them.
Originality/value
To the best of the authors’ knowledge, there are no papers in finance that deal extensively with this topic. The authors believe that the severity of the issue and the importance of its funding make this study a valuable source of information. The recent changes occurring within the movement are likely to become even more critical to its success or failure in the future.
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