Search results

The desire to increase investor interest in emerging markets has motivated many studies of return and risk characteristics of equity prices in these markets. Using data from January 1999 to December 2002, we examine the dynamic relationships between oil, currency, and stock prices in the four major markets in the Middle East. Three of the four are highly correlated with the major stock markets. The potential for diversifying in Middle East markets is limited. The Egyptian and Jordanian markets, on one hand, and the Israeli and Saudi markets, on the other, are marginally integrated. While Israeli shekels significantly explain their equity prices, crude oil futures prices fairly explain oil‐rich Saudi and Egyptian equity prices. We conclude that it takes a long time for crude oil futures prices to reach equilibrium with stock prices in Israel when there is a shock to the system. However, it takes relatively a short time for crude spot oil prices and currency price to reach equilibrium with stock prices when there is a shock in the system of Saudi Arabia or Egypt. Our results suggest that, in the short and long term, investor decisions in these markets are influenced by oil and currency prices.

Notes with concern the current negative rate of personal saving in the USA, reviews previous research on factors affecting savings and explores the interrelationships between personal savings and the returns on stock and family homes. Develops a mathematical model and applies it to 1980‐2000 data using causality tests, cointegration and error‐correction models. Finds a significant, negative causal relationship from stock returns to savings and a possible positive causal relationship from returns on homes, although the latter was not supported by tri‐variate analysis. Concludes that changes in a household’s stock returns are adjusted through changes in savings.

The aim of this research is to find out which mergers and acquisitions (M&A) market is better able to absorb all the shocks from legislations in securities and banking in Europe and the USA, 11 September 2001 terrorist attacks in the USA, and other global events. The most exogenous or self‐dependent market may be the mover and shaker in the M&A deals in the world. The sample period spans from October 1998 to September 2004.

This research uses cointegration and innovation accounting techniques (variance decomposition analysis and impulse response functions) to find out: if the two M&A markets are linked and explained each other in the long‐run; which of the two markets can able to withstand all the list shocks in the observed period; how long each of the market is about to deal with the shocks (are the shocks long‐lasting or short‐lasting?).

The major findings are: The cointegration results indicate that the M&A markets in Europe and the USA tend to move together in the long‐run, particularly, the European M&A deals (EUMA) and US cross‐border M&A deals in Europe (USCROSS). On one hand, the most consistent result from the variance decomposition analysis and impulse response functions is that the European M&A market is the most exogenous or self‐dependent market in the observed period. On the other hand, the most interactive market (less able to deal with the shocks) is the US M&A market (USMA) because it is significantly impacted by the legislations in securities and banking, 9/11 and other global events. US cross‐border M&A deals in Europe (USCROSS) and European cross‐border M&A deals in the USA (EUCROSS) are able to deal with the shocks when the order of VAR is 6. However, when the order of VAR is extended to 12 they are less able to absorb the shocks.

The limitation of the data at that time did not allow examination of US M&A deals with individual European countries, particularly, United Kingdom that has historically invested in the US more than any country in Europe.

The pivotal conclusion of this study suggests that EUMA and USCROOS move together in the long‐run and EUMA is the strongest market in dealing with shocks, the world business may be gradually shifting to Europe. Practically, most of the multinational corporations (MNCs), especially the US MNCs are craving for market niches in Europe.

The real value of this paper is that the changing financial landscape is the US implies that all the shake‐up may lead to Europe. Philosophically, “all roads lead to Rome” New trends in world business is that the center of gravity in business may be pointing to Europe.

This paper examines the impact of financial inclusion on poverty through access to mobile money in developing economies.

The authors employ the principal component analysis to construct an index of financial inclusion using demand and supply indicators, including mobile accounts. The authors use the two-step system GMM estimator for the analysis because of its efficiency and robustness in addressing heteroscedasticity and autocorrelation.

The main finding is that financial inclusion generally increased and significantly reduces poverty in the sample period. Furthermore, income inequality worsens poverty.

This study has few limitations. First, the empirical analysis of the study is restricted to macroeconomic factors only because of limited Household Finance Survey data set and time availability. Second, the study is limited to developing countries and the results cannot be generalized.

Financial inclusion is a significant policy tool for poverty reduction. There is the need to enhance strategies that further improve financial inclusion by expanding and improving the use of mobile money accounts.

The paper sheds light on how developing countries can harness financial inclusion to reduce poverty.

The paper differs from the previous studies in two ways. Firstly, mobile money account is included in the computation of financial inclusion index over the sample period. It also determines the impact of financial inclusion on poverty for short-run and long-run periods.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-11-2021-0690

In the past few years, researchers across the world have been attracted to corporate governance (CG) and sustainability studies in the banking space. However, inconsistencies remain, which have created a lack of alignment in existing research. To address this problem, this paper aims to re-examines the CG–bank sustainability relationship using a qualitative design, which has been underused in the field, to generate in-depth, useful and novel analysis and insights that may hide behind the numbers.

A qualitative inquiry was conducted using key informants in Ghana’s banking industry. This study made use of purposive and snowball sampling techniques, an interview guide and the thematic approach to qualitative data analysis.

Firstly, this research finds that while larger boards do not promote bank sustainability, those who are independent and have diversified expertise and experiences do. Secondly, CEO duality can boost bank sustainability only if the CEO is actively engaged and performing. Thirdly, this study finds that foreign-owned and managed banks make more profits only if they have good knowledge of the local market.

This research makes the call that upcoming researchers should replicate this research in other banking settings worldwide to validate the results.

Practical lessons for local and foreign-owned banks and their shareholders are discussed to advance the United Nations’ Sustainable Development Goal 8.

This research shares novel insights that offer clarity to the literature and move the CG and sustainability fields forward.

Leadership is basically about influence and ability to cultivate followership. This chapter examined the nature of indigenous socio-political leadership in Africa using Zimbabwe, Sudan and Nigeria as caselets and compared this with the post-colonial or modern-day leadership realities. A survey was conducted among senior executives at Lagos Business School, Nigeria, with a sample size of 200 persons, to find out their perception of the African indigenous leadership system. An overwhelming 90% believe that culture plays a big role in shaping African leadership style. However, two-thirds of the respondents agreed that Africa lacks proper institutional structures to support good leadership, thus encouraging corruption (97% of the respondents) and non-accountability among the leaders. Also, only 5% thought cultural orientation was the reason why the African followers do not hold their leaders accountable. In other words, it is not in the African culture not to hold leaders accountable for their actions. So, what went wrong? We attempted a deeper look at the effect of colonial rule and the attendant militarisation of the African continent. Our conclusion is that the colonisation of the continent by Europe brought significant distortion to the traditional African indigenous leadership institutions and the psyche of the African leader and the followers alike. Post-colonial Africa has witnessed 133 recorded coups d’etat between 1952 and 2016. This chapter is recommended to all those who seek a deeper understanding of the nature of the African indigenous leadership practices and the factors that have shaped these over the years.

Work on construction sites involves individuals with diverse character, temperament,age, physical strength, culture, religion and experience level. A good number of these individuals are also alleged to involve themselves in substance and alcohol abuse due to the physically demanding nature of their work. These could promote the prevalence of violence on construction sites which could in turn affect safety on construction sites. However, there is a lack of empirical insight into the effect of violent behaviour and unsafe behaviour on construction sites. This study therefore pioneers an empirical inquiry into the relationship between violent behaviour and unsafe behaviour on construction sites.

Seventeen violent behaviours and 15 unsafe behaviours were measured on 12 construction sites among 305 respondents using a structured questionnaire. A total of 207 valid questionnaire responses were collected from site workers. Partial least square–structural equation modelling (PLS-SEM) technique was used to examine the relationship between violent behaviour and unsafe behaviour.

The results indicate that there is a significant positive relationship between violent behaviour and unsafe behaviour on construction sites.

The findings from this study provide valuable insight into a less investigated dimension of the problem of construction site safety management. A focus on attitudinal issues such as how workers relate toward others and toward self should be an important consideration in safety improvement interventions on construction sites.

This paper aims to ascertain stakeholder’s willingness to contribute towards food banking implementation and further develops a framework for implementing food banks in developing country, Ghana.

Structured questionnaire was used to obtain response from 385 respondents using multistage sampling technique. Descriptive statistics was used to determine frameworks for food banking, whereas Heckman two-stage regression was used to analyse factors influencing stakeholder’s willingness to contribute towards food banking.

The results revealed that respondents preferred food banking with pantry, which is similar to the American model. Respondents were willing to contribute a minimum of (GH₵1–200, US$ ¢ 0.17-34.12) cedis and a maximum of GH₵ (400–600, US$ 68.23-102.35) monthly towards food bank implementation. Age, marital status and household head had a negative influence on stakeholders’ willingness to contribute towards food banking implementation, whereas income level and food bank awareness influenced willingness to contribute towards food bank implementation positively.

The study gives insight on stakeholder’s willingness to contribute towards food banking via cash or kind and further develops a framework for implementing food banking in Ghana.

This study provides empirical contributions and vital information about stakeholders preferred food banking models and framework for implementing food banking, which Government can use as a social intervention policy to help vulnerable Ghanaians. In addition, findings from the study can enlighten and guide non-governmental organizations, individual philanthropists and other corporate bodies who want to contribute to food security, food poverty, hunger alleviation and development through food banking implementation.

In a developing country such as Ghana where there remains a paucity of food banking research, this study adds to existing literature by providing vital information of stakeholders preferred food banking models and frameworks for implementing food banking.

This paper seeks to examine the prospects and constraints of implementing food banking in the in Kumasi Metropolis in Ghana.

Multistage sampling technique was used to select 385 respondents for the study. Descriptive statistics were used to present prospects of food banking. The probit regression model was used to analyse factors influencing food banking implementation whereas Kendall's coefficient of concordance was used to analyse constraints in implementing food banking.

Addressing food poverty, helping to provide food aid to respondents in times of pandemics (such as Covid 19) and also helping in reducing food wastage were the most notable prospects of food banking. Age, household size, food bank awareness and food poverty had a significant positive influence on food banking implementation, whereas residential status and employment status had a significant negative influence on food banking implementation. The most pressing constraint in implementing food banking is funding and support with the mean rank of 3.03 whiles the least pressing constraint is improper documentation of potential beneficiaries with the mean rank of 6.72.

This study provides empirical contributions and practical implications for implementing food banks in Ghana. Thus, the government of Ghana through the Ministry of Food and Agriculture (MOFA) can enact policies that can help prevent food losses and wastage. In this vain, food which could have been wasted would be redirected to food banks. This can serve as a tool for social intervention, poverty alleviation and prevention of hunger among the vulnerable in Ghana.

Despite several studies on food banking in affluent countries, food banking research in developing countries such as Ghana remains scanty. Thus, this paper makes significant contributions to the literature on prospects and constraints in implementing food banking and the factors influencing food banking implementation.