Search results

Knowing financial and economic information beforehand benefits in planning and developing policies for every country especially for a developing country like Thailand and for other Asian countries. Unfortunately, missing data or non-response plays an essential role in many areas of studies including finance and economics. Eradication of missing data in a proper way before further analysis can gain remarkable outcomes and can be effective for planning policies. This review on the generalized regression estimators for population total can be applied to financial, economic and other data when missing data are present.

The generalized regression estimators for estimating population total, including the variance estimators under unequal probability sampling without replacement with missing data are explored under the reverse framework. Applications to financial and economic data in Thailand are also reviewed.

The review of literatures related to the proposed estimator shows the best performance, giving smaller variances in all scenarios.

The generalized regression estimators can assist in estimating financial and economic data that contain missing values with different missing mechanisms and can be used in other applications which help gain more superior estimators.

The purpose of this study is to analyze the effect of corporate social responsibility (CSR) practices and corporate ethical behavior on implicit cost of equity (COE) using integrated reporting quality (IRQ) as a mediating variable in European companies belonging to the environmental, social and governance (ESG) index.

The authors use a panel data set of 540 European firms from the ESG index from 2013 to 2022. The data were collected from I/B/E/S and Thomson Reuters ASSET4 database and analyzed using the structural equation model to test hypotheses.

In the instance of ESG European firms, the findings indicate that CSR practices and corporate ethical behavior are negatively related to the COE. From the result of the Sobel test, this study indicated that IRQ has only indirect mediation on the relationship between CSR, ethical behavior of the company and implicit COE.

The findings have some policy and practical implications that may help regulators and managers in improving the COE and helping companies envision their future growth opportunities in a context where responsibility, ethics and disclosure are central to corporate valuation. Using the implicit COE is a better estimate of shareholder requirements in the context of ESG companies.

This research concentrates on ESG companies since they are more likely to contribute to environmental protection, which attracts responsible investors. Furthermore, the findings may be useful to worldwide managers and investors who use responsible practices as a criterion in their decision-making.

The purpose of this paper is to investigate the role of institutional investors in the cost of equity for Chinese firms, especially state-owned enterprises (SOEs).

By using data from Chinese firms with a unique state ownership structure, we provide empirical evidence on whether institutional investors can help reduce the cost of equity for SOEs and non-SOEs, respectively, and if so, identify the underlying channels.

We find that an increase in the shareholdings of institutions, especially independent institutions, can lead to a reduction in the cost of equity. This effect is particularly prominent in SOEs compared to non-SOEs. Moreover, institutional investors promote corporate social responsibility activities and innovation activities of invested firms, thereby reducing the cost of equity.

This paper contributes to a comprehensive understanding of the effects of institutional shareholdings with heterogeneity on the cost of equity and their influential mechanisms in the process of mixed ownership reform.

The return behavior of customers has a great impact on the e-retail industry and has resulted in the emergence of return-freight insurance (RI). Additionally, customer loss aversion arising from returns affects e-retailers' decisions and manufacturers' profits. Therefore, the main purpose of the authors' study is to determine how e-retailers and manufacturers choose their RI strategy and pricing according to customers' loss aversion.

The authors propose three scenarios: no RI, customer purchase RI and free e-retail RI (FRI). Meanwhile, the authors also model a Stackelberg game between e-retailers and manufacturers for analysis. Then, according to customer return behavior and loss aversion, the authors study the optimal pricing decision and RI premium allocation scheme for e-retailers and manufacturers under different scenarios.

It was found that the loss sensitivity reduces customers' willingness to buy RI, which is not conducive to the development of e-retailers and manufacturers. Additionally, with higher loss sensitivity, e-retailers and manufacturers offer FRI to gain higher profits, which supports the implementation of the FRI strategy.

The authors introduce customers' loss aversion into RI to analyze the optimal pricing decisions and profits of e-retailers and manufacturers, enriching the application of loss aversion theory. In addition, this study analyzes the two-way cost-sharing mechanism between manufacturers and e-retailers to provide FRI, which provides a theoretical basis for RI premium sharing.

This study investigates if and how the board size, the board independence, the CEO duality and the board-specific skills are associated with higher-quality Sustainable Development Goals (SDGs) disclosure in European State-Owned Enterprises (SOEs).

We measured SDGs disclosure through a content analysis of SOE's reports from 2017 to 2022. The characteristics of the boards analyzed are board size, board independence, CEO duality and board-specific skills. We performed multiple regression models to test the association between the SDGs disclosure and the characteristics of the boards.

The results show that board size, independent directors and board-specific skills are positively associated with higher-quality SDGs disclosure, while CEO duality is negatively associated with higher-quality SDGs disclosure.

This study provides several practical implications. Shareholders could equip their firms with larger boards, more independent and highly skilled directors, while avoiding a CEO duality for improving the SDGs disclosure; capital providers could examine the characteristics of a firm's board before allocating financial resources to verify which firms are accountable in reaching the SDGs. Also, standard-setters and policymakers could use the results of this research to define new standards or regulatory pathways to push firms to put more efforts in preparing a comprehensive and high-quality SDGs disclosure.

While prior studies mostly focused on sustainability reporting overall, this study adds a specific insight about SDGs disclosure employing an investigation which has not been previously analyzed.

Companies are increasingly appointing a Chief Sustainability Officer (CSO) to anchor the need to highlight climate change at the senior management level. This study aims to examine how CSO power and sustainability-based compensation influence climate reporting and carbon performance.

Using one of the largest data sets to date, consisting of 18,834 company years through the author’s observations, spanning an 11-year period (2011–2021) in 33 countries. This paper used quantitative methods – specifically, ordinal logistic regression estimation. This paper measures the level of climate change disclosure based on the carbon disclosure leadership methodology. Carbon performance is based on the intensity of carbon emissions (Scope 1, Scope 2), which is a quantitative and relatively more objective measure.

The results suggest that climate change disclosure continued to increase and the carbon emissions intensity of the companies in this study gradually decreased over the sample period. This paper finds that the presence of the CSO within the top management team has a positive and significant influence on the level of information on climate change of the companies in the sample. This finding confirms the idea that the managerial capacity of CSOs motivates the disclosure of climate change. The empirical results confirm that there are differences in the role that the CSO and sustainability-based compensation play in influencing the quality of climate information disclosure in developed and developing countries.

The recourse on a mixed theoretical framework, which highlights upper echelons theory, argues the understanding of the role of CSOs in explaining the relationship between climate change disclosure–carbon performance relationship. The novelty of the study lies in the approaches adopted to describe the quality of climate change disclosure. To control for endogeneity, this paper uses a difference-in-difference analysis by adding a firm to the Morgan Stanley Capital International index as an exogenous shock.

This study aims to measure the impact of information and communication technology (ICT) infrastructure on divorce for a sample of developed countries for the period (2012-2021).

This paper uses fixed effect and generalized method of moments (GMM) estimation to delve into the impact of eight ICT infrastructure factors on divorce. The analyses are based on data collected from the World Bank Development Indicators.

The fixed effect analysis revealed that an increase in both fixed-telephone subscriptions and population covered by at least a 4G led to an increase in divorce. However, an increase in mobile cellular subscriptions and active mobile broadband subscriptions lead to a decrease in divorce. The results of the GMM estimator showed that fixed broadband internet prices, mobile broadband internet prices, the percentage of the population covered by the 4 G mobile network and fixed-telephone subscriptions had a substantial effect on divorce. While fixed broadband subscriptions, active mobile broadband subscriptions and mobile cellular basket were found to hinder divorce.

The findings of this study contribute to the existing literature by highlighting the impact of ICT on divorce in a sample of developed countries. Furthermore, it helps decision-makers and families to understand the causes of divorce related to ICT infrastructure in these societies, so they can understand this phenomenon and provide proactive policies.

This study used multiple factors to measure ICT infrastructure as well as the GMM estimator to delve into the impact of ICT on divorce.

This study aims to examine the impact of China's “Manufacturing and Internet Integration Development Pilot Demonstration Project” (MIP) policy on the digital transformation (DT) and labor structure optimization (LSU) of manufacturing enterprises, reveal the relationship between DT and LSU at the micro level and investigate the mechanism between them.

This study employs MIP as a quasi-natural experiment and develops a time-varying difference-in-difference (DID) model based on a sample of 2,445 Chinese A-share listed manufacturing enterprises in the Shanghai and Shenzhen markets from 2013 to 2021.

The implementation of MIP significantly increases DT by 0.4366 and optimizes LSU by 0.0507. By enhancing the two mediated variables of organizational learning inputs (SI) and employees' personal digital cognition (PDC), DT can optimize the LSU of pilot enterprises by 0.035 and 0.034, according to the results of the mechanism analysis. The study also reveals that the impact of MIP on LSU is highly heterogeneous. With effects of 0.0691 and 0.0632, the optimization effect is more pronounced in state-owned firms and firms with low ownership concentration, respectively.

This study demonstrates the dual effects of the MIP pilot on DT and LSU. In addition, this study pioneers research on the significance of optimizing the labor structure through SI and PDC on the basis of DT, which provides an empirical foundation for the Chinese Government to expand the scope of MIP pilots and revise policy content, as well as for manufacturing enterprises to upgrade the labor structure.

The advent of online live streaming platforms (OLSPs) and online health communities (OHCs) has expedited the integration of traditional medical services with Internet new media technology. Since the practice of physicians conducting live streaming is a relatively new phenomenon, the potential cross-platform effects of such physicians’ live streaming have not received adequate attention.

This study collected data from 616 physicians specializing in cardiology, obstetrics and gynecology and neurology between April and November 2022 on Live.Baidu.com and WeDoctor.com. It constructed a panel data set comprising a total of 4,928 observations over an 8-month period and validated the model using empirical analysis with the fixed-effects method.

We find evidence of cross-platform influence in online healthcare. Physicians’ live streaming behavior (whether live or not and the heat of their streams) on OLSPs positively impacts both their consultation and reputation on OHCs. Additionally, physicians’ ability positively moderates the relationships between live streaming heat and their performance (in terms of consultation volume and reputation) on OHCs. However, ability does not moderate the relationship between physicians’ live streaming status (live or not) and their performance (in terms of consultation and reputation) on OHCs. Furthermore, the attractive appearance of the physicians also significantly moderates the impact in a positive way.

This is one of the pioneering studies on physicians’ live streaming. The study offers vital guidance for physicians and patients utilizing dual platforms and holds significant reference value for platform operators (such as OLSPs and OHCs) aiming to optimize platform operations and for the government in policy formulation and industry regulation.

The present paper makes an attempt to investigate the determinants that affect FDI inflows distribution among Indian states. Together with traditional determinants, the impact of institutional determinants on state-level FDI inflows distribution in India has been analysed.

The study uses panel data for a period of 20 years (2000–2019) for 17 groups of Indian states (29 states and 7 UTs). The empirical evidence is based on the panel data method and the findings support Dunning's OLI theory. As the data for some indicators for the institutional environment is not available at the state level, hence we used component analysis to arrive at the single component for the institutional factor. The study takes into account corruption, legal system, industrial disputes, man-days lost, labour availability, political risk, protection of IPR and agglomeration as potential macroeconomic and institutional determinants.

Results show that FDI inflows into Indian states is driven mainly by institutional environment. From our analysis, the author infers that the institutional variables such as legal system, IPR, corruption, political instability play an important role in determining the distribution of FDI inflows at the state level in India. Together with that GFCF and agglomeration are also important determinants of state-wise FDI inflows.

The major limitation of the study is that it doesn't include moderated impact of economic and institutional determinants of FDI inflows in Indian states, which can be an avenue for future research. Future research can also carried out taking district-level data to further examine the determinants at district level in India.

The contribution of the present paper is three-fold, first, the author constructs a measure of different institutional variables, after normalization of data for the period 2000–2019, and the author choose the highest explaining factor with the highest variance explained then we constructed the indices for select variable, which further has been used in the panel data analysis technique. The author has found that macroeconomic variables, as well as institutional variables, are significant to attract FDI at the state level in India. The paper shows that corruption, political risk, IPR and legal system are the major institutional determinants of FDI inflows in India at the state level. States with higher domestic investment attract more FDI inflows, moreover, agglomeration is a very important determinant as the investors are more confident in investing at the same location, the reason behind this may be that the investors want to avoid the registration procedure for new land, administrative formalities or they feel more secure at the same place and keen to invest at the same place again.