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Fernanda Cigainski Lisbinski and Heloisa Lee Burnquist
This article aims to investigate how institutional characteristics affect the level of financial development of economies collectively and compare between developed and…
Abstract
Purpose
This article aims to investigate how institutional characteristics affect the level of financial development of economies collectively and compare between developed and undeveloped economies.
Design/methodology/approach
A dynamic panel with 131 countries, including developed and developing ones, was utilized; the estimators of the generalized method of moments system (GMM system) model were selected because they have econometric characteristics more suitable for analysis, providing superior statistical precision compared to traditional linear estimation methods.
Findings
The results from the full panel suggest that concrete and well-defined institutions are important for financial development, confirming previous research, with a more limited scope than the present work.
Research limitations/implications
Limitations of this research include the availability of data for all countries worldwide, which would make the research broader and more complete.
Originality/value
A panel of countries was used, divided into developed and developing countries, to analyze the impact of institutional variables on the financial development of these countries, which is one of the differentiators of this work. Another differentiator of this research is the presentation of estimates in six different configurations, with emphasis on the GMM system model in one and two steps, allowing for comparison between results.
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David Korsah, Godfred Amewu and Kofi Osei Achampong
This study seeks to examine the relationship between macroeconomic shock indicators, namely geopolitical risk (GPR), global economic policy uncertainty (GEPU) and financial stress…
Abstract
Purpose
This study seeks to examine the relationship between macroeconomic shock indicators, namely geopolitical risk (GPR), global economic policy uncertainty (GEPU) and financial stress (FS), and returns as well as volatilities on seven carefully selected stock markets in Africa. Specifically, the study intends to unravel the co-movement and interdependence between the respective macroeconomic shock indicators and each of the stock markets under consideration across time and frequency.
Design/methodology/approach
This study employed wavelet coherence approach to examine the strength and stability of the relationships across different time scales and frequency components, thereby providing valuable insights into specific periods and frequency ranges where the relationships are particularly pronounced.
Findings
The study found that GEPU, Financial Stress (FS) and GPR failed to induce significant influence on African stock market returns in the short term (0–4 months band), but tend to intensify in the long-term band (after 6th month). On the contrary, stock market volatilities exhibited strong coherence and interdependence with GEPU, FSI and GPR in the short-term band.
Originality/value
This study happens to be the first of its kind to comprehensively consider how the aforementioned macro-economic shock indicators impact stock markets returns and volatilities over time and frequency. Further, none of the earlier studies has attempted to examine the relationship between macro-economic shocks, stock returns and volatilities in different crisis periods. This study is the first of its kind in to employ data spanning from May 2007 to April 2023, thereby covering notable crisis periods such as global financial crisis (GFC) and the COVID-19 pandemic episodes.
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Ernest Christian Winful, Michael Snowden, Jamie P. Halsall, Josiah Nii Adu Quaye, Denis Hyams-Ssekasi, Frank Frimpong Opuni, Emelia Ohene Afriyie, Elikem Chosniel Ocloo and Kofi Opoku-Asante
Levels of unemployment and environmental challenges make social entrepreneurship and social enterprise very important for the sustainability of society. Higher education has…
Abstract
Levels of unemployment and environmental challenges make social entrepreneurship and social enterprise very important for the sustainability of society. Higher education has played a fundamental role in driving entrepreneurship and innovation in local, national, regional, and global contexts. The authors of this article explore the state of the legislative framework in Ghana, as well as social enterprise education, stakeholder engagement, models and challenges. The methodology applied for this paper is concept mapping, enabling the critical exploration of the relevance of social enterprise in the context of higher education, and demonstrating how it could practically serve as a panacea to rising youth unemployment. This research concludes by making a case for including social enterprise in the higher education curriculum.
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Seyed Shahramadin Tavakoli, Afsaneh Mozaffari, Abolfazl Danaei and Ehtesham Rashidi
The purpose of this paper is to explain the effect of the technology acceptance model in the media environment by using the mediating role of artificial intelligence and the cloud…
Abstract
Purpose
The purpose of this paper is to explain the effect of the technology acceptance model in the media environment by using the mediating role of artificial intelligence and the cloud computing approach.
Design/methodology/approach
After reviewing the theoretical foundations, a conceptual model framework and research hypotheses were formed. The statistical population of the study included managers, deputies and experts from the National Iranian Oil Company, and a statistical sample of 368 people was selected by simple random sampling.
Findings
The results of structural equation modelling with PLS 2.0 software show a positive and significant effect on the artificial intelligence variable in the technology acceptance model with the cloud approach. Artificial intelligence has opened a new space in the digital world, especially in the media, so that its profound impact is quite evident and has affected people’s lives.
Originality/value
The acceleration of various technologies has severely challenged the approach of organizations, especially the media. The media environment with word of the technologies of the Industry 4.0, especially cloud computing technology, has changed the ways of accessing and using products and services.
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