Search results

1 – 6 of 6
Article
Publication date: 4 October 2022

Muhammad Azhar Khalil, Rashid Khalil and Muhammad Khuram Khalil

Historically, investments in innovation are perceived as one of the paramount decisions businesses opt to thrive and the impact of such investments on businesses' market…

1817

Abstract

Purpose

Historically, investments in innovation are perceived as one of the paramount decisions businesses opt to thrive and the impact of such investments on businesses' market performance is well documented in the literature. However, the environmental aspects of making such investments are yet to be addressed by the firms, which in turn, present considerable damage to the environment. Coupling with the natural resource-based view (NRBV) and the stakeholder theory of the firm, this research builds on an earlier work of Khalil and Nimmanunta (2021) in an attempt to examine the link between innovation and firms' environmental and financial value. The authors extend their analysis and document a more consistent approach to measuring environmental innovation which allows the authors to investigate the firms from three additional economies with respect to firms' investments in both traditional and environmental innovations.

Design/methodology/approach

The underlying models are tested using the time fixed-effects panel regression by utilizing information from publicly traded companies of ten Asian economies, including Japan, Hong Kong, Taiwan, Thailand, Turkey, Malaysia, Singapore, India, Indonesia, and Saudi Arabia. The reported sample covers annual firm-level ESG data obtained from Thomson Reuters' Datastream and Refinitiv Eikon during the 2015–2019 period.

Findings

This research offers support to the conventional wisdom that innovation is advantageous to the firms' market value. The authors further decompose innovation into traditional innovation and environmental innovation. The findings of this research suggest that traditional innovation is favorable only for the firms' market valuation and traditional innovation is strongly ineffectual for the environment – traditional innovation produces sizeable environmental distress by contributing substantially to carbon emissions. In contrast, the resultant effects of investments in environmental innovation are evident to be instrumental for both firms' financial performance and the environment.

Research limitations/implications

This research has primarily focused on only two components of a company's environmental performance: reduction in carbon emissions (CO2) and corporate social responsibility (CSR). Given the complexity of firms' environmental strategies and the multidimensionality of the variable, which encompasses a wide range of corporate behavior in terms of relationships with communities, suppliers, consumers, and broader environmental responsibilities broadening the scope of the study by including other important aspects of environmental sustainability is, therefore, critical.

Practical implications

The findings of this research signify environmental innovation as one of the vital investment approaches as firms can exploit benefits related to the market from firms' sustainable practices, developing eco-friendly processes by introducing steady yet systematic chains of green products and services. Such products and services may have a feature of enhanced functionality with a better layout in terms of improved product life with better recycling options, and lower consumption and exploitation of energy and natural resources. These sustainable practices would be advantageous for the firms regarding the possibility of setting prices above the standard level through establishing green brands and gaining market share of environmentally anxious consumers. For those companies that are striving to take the leading role in the green industry and longing to seek superior returns on the companies' environmental investments, these benefits, in particular, are exceptionally critical to them.

Originality/value

The linkage between firms' financial and environmental performance in the context of simultaneous inclusion of both green and traditional innovations remains unclear and is yet to be investigated by researchers. Thus, this research shed light on the role of environmental innovation and traditional innovation on firms' environmental performance and financial performance. The authors utilize a novel dataset with a clear indication of measuring different elements of innovation that allows us to develop a more robust approach to corporates' environmental, social and governance (ESG) performance metrics having the slightest biases related to transparency and firm size.

Details

China Finance Review International, vol. 14 no. 1
Type: Research Article
ISSN: 2044-1398

Keywords

Article
Publication date: 1 September 2023

Dimitrios Panagiotou and Filio Naka

The purpose of this paper is to investigate for symmetries – in sign and size – between spot and futures prices in the markets of energy commodities.

Abstract

Purpose

The purpose of this paper is to investigate for symmetries – in sign and size – between spot and futures prices in the markets of energy commodities.

Design/methodology/approach

The aforementioned objective is pursued using daily observations of spot and futures prices for the commodities of crude oil, Brent, heating oil, gasoline and natural gas, along with local nonlinear regression.

Findings

Symmetry in sign and size cannot be rejected. This means that, shocks of the same absolute magnitude, but of different sign, are transmitted from futures prices to spot prices with the same intensity. In addition, larger absolute value price shocks in the futures are transmitted to the spot markets with the same intensity compared with smaller ones. The findings of symmetry in the comovements among prices reveal a lack of those commodities on diversifying the investors’ investment risk.

Originality/value

To the best of the authors’ knowledge, this is the first study to use local nonlinear regression to test for sign and size symmetry between futures and spot prices in the energy commodities markets.

Details

Studies in Economics and Finance, vol. 41 no. 1
Type: Research Article
ISSN: 1086-7376

Keywords

Article
Publication date: 29 September 2022

Maria Babar, Habib Ahmad and Imran Yousaf

This study examines the information transmission (return and volatility spillovers) among energy commodities (crude oil, natural gas, Brent oil, heating oil, gasoil, gasoline) and…

Abstract

Purpose

This study examines the information transmission (return and volatility spillovers) among energy commodities (crude oil, natural gas, Brent oil, heating oil, gasoil, gasoline) and Asian stock markets which are net importers of energy (China, India, Indonesia, Malaysia, Korea, Pakistan, Philippines, Taiwan, Thailand).

Design/methodology/approach

The information transmission is investigated by employing the spillover index of Diebold and Yilmaz, using daily data for the period January 2000 to May 2021.

Findings

A Strong connectedness is documented between the two classes of asset, especially during crisis periods. Our findings reveal that most of the energy markets, except gasoil and natural gas, are net transmitters of information, whereas all the stock markets, excluding Indonesia and Korea, are net recipients.

Practical implications

The findings are helpful for portfolio managers and institutional investors allocating funds to various asset classes in times of crisis.

Originality/value

All data is original.

Details

Asia-Pacific Journal of Business Administration, vol. 16 no. 2
Type: Research Article
ISSN: 1757-4323

Keywords

Article
Publication date: 25 April 2024

Mojtaba Rezaei, Marco Pironti and Roberto Quaglia

This study aims to identify and assess the key ethical challenges associated with integrating artificial intelligence (AI) in knowledge-sharing (KS) practices and their…

Abstract

Purpose

This study aims to identify and assess the key ethical challenges associated with integrating artificial intelligence (AI) in knowledge-sharing (KS) practices and their implications for decision-making (DM) processes within organisations.

Design/methodology/approach

The study employs a mixed-methods approach, beginning with a comprehensive literature review to extract background information on AI and KS and to identify potential ethical challenges. Subsequently, a confirmatory factor analysis (CFA) is conducted using data collected from individuals employed in business settings to validate the challenges identified in the literature and assess their impact on DM processes.

Findings

The findings reveal that challenges related to privacy and data protection, bias and fairness and transparency and explainability are particularly significant in DM. Moreover, challenges related to accountability and responsibility and the impact of AI on employment also show relatively high coefficients, highlighting their importance in the DM process. In contrast, challenges such as intellectual property and ownership, algorithmic manipulation and global governance and regulation are found to be less central to the DM process.

Originality/value

This research contributes to the ongoing discourse on the ethical challenges of AI in knowledge management (KM) and DM within organisations. By providing insights and recommendations for researchers, managers and policymakers, the study emphasises the need for a holistic and collaborative approach to harness the benefits of AI technologies whilst mitigating their associated risks.

Details

Management Decision, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 30 December 2021

Maayan Nakash and Dan Bouhnik

This study aims to examine the relevance of the term “knowledge management” (KM) in the organizational context, and deliberates whether there is a need for rebranding of this…

Abstract

Purpose

This study aims to examine the relevance of the term “knowledge management” (KM) in the organizational context, and deliberates whether there is a need for rebranding of this field. It also enriches the understanding regarding the appropriateness of the term “KM,” which was chosen to represent the discipline.

Design/methodology/approach

This study adopted a qualitative research methodology, and a case study approach was followed by conducting 19 semi-structured in-depth interviews with international KM experts working in a global consulting firm. The data were analyzed using a thematic analysis method based on the grounded theory approach.

Findings

The findings provide empirical evidence that attempts are being made to move away from the label “KM” in certain knowledge-intensive organizations. This study sheds light on the challenges associated with this term, which leads some to believe that the name of the discipline needs to change.

Originality/value

The present pioneering research contributes to empirical knowledge through investigation of an unexplored scientific field. To the best of the authors’ knowledge, for the first time, its uniqueness can be established by the fact that the opinions of KM professionals are being heard regarding the “KM” label, as well as the need for a rebranding of this discipline in the organizational context. From a practical and strategic perspective, this study suggests that the research community and practitioners pay attention to attempts to shift away from the existing title identified in organizational practice.

Details

VINE Journal of Information and Knowledge Management Systems, vol. 54 no. 2
Type: Research Article
ISSN: 2059-5891

Keywords

Article
Publication date: 30 January 2024

Ting-Ting Sun and Chi Wei Su

The study investigates the inter-linkages between geopolitical risk (GPR) and food price (FP).

Abstract

Purpose

The study investigates the inter-linkages between geopolitical risk (GPR) and food price (FP).

Design/methodology/approach

By employing the bootstrap full- and sub-sample rolling-window Granger causality tests.

Findings

The empirical results show that there is a time-varying bidirectional causality between GPR and FP. High GPR leads to a rise in FP, suggesting that geopolitical events usually may disrupt supply and demand conditions in food markets, and even trigger global food crises. However, the negative effect of GPR on FP does not support this view in certain periods. This is mainly because GPR is also related to the global economic situation and oil price, which together have impacts on the food market. These results cannot always be supported by the inter-temporal capital asset pricing model, which states that GPR affects FP in a positive manner. Conversely, there is a positive impact of FP on GPR, indicating that the food market is an effective tool that can reflect global geopolitical environment.

Originality/value

In the context of the Russia–Ukraine conflict, these analyses can assist investors and policymakers to understand the sensitivity of FP to GPR. Also, it will provide significant revelations for governments to attach importance to the role of food price information in predicting geopolitical events, thus contributing to a more stable international environment.

Details

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

Keywords

1 – 6 of 6