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The purpose of this study is to extend previous literature and examine risk management efficiency among Takaful (TI) and conventional insurance (CI) firms in the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE). This study also aims to determine whether Takaful firms are more efficient in managing risks, compared to CI firms.

This study examines risk management efficiency among Takaful and CI firms in the KSA and the UAE for a sample of 20 insurance firms comprising 10 TI firms and 10 CI firms for the period 2018–2020. The authors use Data Envelopment Analysis to estimate efficiency scores among insurance companies to compare risk management efficiency between CI and TI companies and apply two-way analysis of variance to statistically analyze the data.

The results of this study show that TI firms have a higher efficiency score than CI firms, but not significantly and that insurance firms in KSA have higher efficiency scores than insurance firms in UAE. The results also reveal that TI firms did not significantly outperform CI firms in managing risks; however, there is a significant difference in efficiency scores among insurance firms in KSA and UAE.

The authors also contribute to the literature by providing important insights into how the operational business environment of the country can influence the risk management efficiency of CI and TI companies.

This study promotes understanding the insurance industry, its efficiency and risk management, thus offering key implications for decision-makers, regulators and managers associated with the insurance industry in UAE, KSA and other emerging insurance markets. Regulators could provide enabling policies that foster and promote the business environment, as there is a need to improve risk management efficiency in the insurance industry. Also, the results of this study show that the operating status of the UAE insurance industry in terms of efficiency and risk management is lower than that of KSA. Hence, it would be useful for UAE managers and regulators in taking steps to improve the overall insurance industry market.

The results of this study make significant contributions by providing new insights to the existing literature on the risk management efficiency in the insurance industry, as it adopts a different methodological approach that examines risk management efficiency among TI and CI companies.

The purpose of this study is to investigate the impact of corporate governance on working capital management efficiency. This study also seeks to extend the findings of Gill and Shah.

This study applied a co‐relational research design. A sample was selected of 180 American manufacturing firms listed on the New York Stock Exchange (NYSE) for a period of 3 years (from 2009‐2011).

The findings of this study indicate that corporate governance plays some role in improving the efficiency of working capital management.

This is a co‐relational study that investigated the association between corporate governance and working capital management efficiency. There is not necessarily a causal relationship between the two, although the paper provides some conjectures to the findings. The findings of this study may only be generalized to firms similar to those that were included in this research.

This study contributes to the literature on the factors that improve the efficiency of working capital management, and in particular on the association between several features of corporate governance and the efficiency of working capital management. The findings may be useful for financial managers, investors, financial management consultants, and other stakeholders.

The purpose of this paper is to use survey data to rank the relative importance of perceived factors that inhibit the transfer of knowledge across projects and examine the statistical relationship between various “higher order” dimensions of project management competencies and project efficiency among a sample of project-based firms (PBFs).

The research philosophical approach adopted was post-positivism, a half-way house between positivism and phenomenological approaches. The author used a largely structured survey questionnaire with an inclusion of few open-ended items. The survey data collected were largely based on the “perceptions” of mostly experienced project management practitioners, whose perspectives on project processes and performance are likely to be more dependable. Because of budget limitations, a total of 260 questionnaires were mailed to randomly selected PBFs (with an enclosed self-addressed and stamped return envelope). Of the 260 questionnaires sent to PBFs, 58 questionnaires were returned, representing a return rate of just over 22 percent.

Results indicate that “high time pressures towards the end of the project,” “too much focus on short-term project deliverables,” and “fear of negative sanctions when disclosing project mistakes” were three top-ranked factors that inhibited knowledge transfer across projects. Some “higher order” project management competencies like “dynamic competencies” have relatively a greater impact on predicting project efficiency. Dynamic competencies will only continue to increase in importance as today’s project environments are characterized as continuously evolving, turbulent, and complex and require the need to be effective in dealing with various uncertainties. Once included in the regression equation, the “ownership variable” dominates all other explanatory variables in predicting project efficiency among a sample of PBFs in the United Arab Emirates (UAE), most likely driven by the project management competencies of multinational corporations (MNCs). However, the project efficiency of state-owned PBFs did not differ significantly from that of “international firms that were not MNCs.” Specific conditions may have led to such an outcome. The author shows that enhancing project efficiency requires the reinforcement of multiple but specific factors.

As the study was largely conducted on a limited budget and time frame, the author was not able to employ a multi-method approach. The inclusion of a few case studies would have facilitated triangulation of the current findings. In addition, the study captures “perceptions” and practical experiences of project management practitioners. Future studies could possibly develop what may be seen as “objective” measures of project learning and project management competencies. A larger survey supported by a larger budget would be one option in which some of the findings could be tested across PBFs located in different sectors and countries.

The author argues that the creation of a client-led “no-blame culture” within PBFs can ensure the development of a “safe” environment in which project team members can acknowledge project mistakes without the fear or danger(s) that may come with such admission. This may require changes in project organizational culture that reduces power distance, lowers sensitivity to hierarchal power relations, enhances team building efforts, and fosters a “learning climate” that tolerates “trial and error” experimentation. It may also require strengthening clients’ specific capabilities. Such change may require time and patience but could take advantage of “positive” aspects of participatory practices, personal relationships, and consensus decision-making approach that is prevalent in the UAE culture. One managerial implication points to the need to tailor scarce resources in building up multi-dimensional “higher order” competencies like “dynamic competencies” that have a relatively higher significant impact on enhancing project efficiency. Linking MNCs with local PBFs as collaborative mega project delivery partners may lead to enhancing project management competencies of the latter, conditional on their absorptive capacity.

The contribution of the paper is in providing survey-based empirical evidence that goes beyond case studies to highlight the importance of enhancing “higher order” project management competencies, such as “dynamic competencies,” that have a stronger predictive power of project efficiency in PBFs. The study also ranks the relative importance of various factors that inhibit the transfer of new knowledge across projects. To the author’s knowledge, this is the first study that has demonstrated the statistical relationship between “higher order” project management competencies and project efficiency. Project efficiency is a multi-faceted construct. Its strengthening is determined by a configuration of multiple but specific factors. A more “nuanced” understanding of the relationship between project management competencies and project efficiency in a particular context may be required.

Healthcare management efficiency has become a golden goal in the operations of modern healthcare organisations across zones and cultures. This study aims to investigate five dimensions of Ouchi’s theory Z approach, mutual organisational trust, long-term employment/job security, employee participatory decision-making, employee well-being and generalised career path, concerning healthcare efficiency in government tertiary hospitals during COVID-19 period.

The probability sampling strategy was adopted among 300 participants of the hospitals in the healthcare workforce of the study population. The study adopted multiple scales on the identified variables of theory Z and employed principal component analysis to evaluate the components of Ouchi’s Theory Z in relation to healthcare efficiency among the workforce of tertiary hospitals in Lagos State, Nigeria.

The outcome of this study shows that all the dimensions were significantly related to healthcare efficiency in the study hospitals. It depicts that mutual trust among employees has a positive influence on the efficiency of healthcare management in government tertiary hospitals, and long-term employment opportunity has a significant impact on the efficiency of healthcare management in government tertiary hospitals. Employee participatory decision-making is essential to the efficiency of healthcare management in government tertiary hospitals. Employee well-being is fundamental to the efficiency of healthcare management in government tertiary hospitals. Generalised career path of healthcare personnel has a tremendous impact on the efficiency of healthcare management in government tertiary hospitals.

This study is limited to healthcare employees in Lagos State, Nigeria. The implication is that as old as Ouchi’s theory, its relevance remains green in the heart of contemporary organisations today even in healthcare facilities in Nigeria which aids the management of the global pandemic, COVID-19 outbreak.

The study shows that Ouchi’s theory Z approach that combines the Japanese and American patterns of organisational management is highly relevant in the operations and management of government hospitals in Nigeria to date even in the era of COVID-19, the global pandemic season.

This paper studies how the concepts of efficiency, effectiveness and efficacy are used in project management literature. The concepts relate to the degree of success or failure of projects and the degree to which the results are achieved. The purpose of this paper is to review the use of the concepts of efficiency, efficacy and effectiveness in project management literature and among practitioners.

The study is based on an extensive literature review, initially from the International Journal of Managing Projects in Business. The first phase involved searching the words “efficiency”, “effectiveness” and “efficacy” in all articles of the journal, and then quantifying the results. This was followed by a qualitative search of the same articles with the aim of understanding how the terms “project efficiency”, “project efficacy” and “project effectiveness” are used. A further intensive literature review was then conducted in other literatures in the field of project management, including, but not limited to, International Journal of Project Management and Project Management Journal. Finally, the authors complemented the review by including theories from deep searches of Google Scholar and Google Books using the parameters “project efficiency”, “project effectiveness” and “project efficacy” and checked how the three concepts are used in other fields.

This research reveals there is wide diversity in interpretations of the three concepts among research scholars and practitioners, which makes it challenging to apply these three concepts appropriately and clearly. As a consequence, the authors propose a model for describing these concepts.

This research is based on an academic and non-academic literature review. It identifies a number of inconsistencies in existing literature regarding the three concepts.

This review enriches understanding of project management. Clarifying the understanding of project efficiency, project effectiveness and project efficacy will help and support organisational improvement. A clear and aligned view of these concepts can also be a basis for measurements based on possible developed indicators.

This paper highlights the gap in the literature concerning the practical use and interpretation of the concepts “project efficiency”, “project effectiveness” and “project efficacy”.

This paper aims to underscore major opportunities for shared value innovation based on data management efficiency, which has often been overlooked so far. By integrating prior research about digital transformation, shared value creation, entrepreneurial marketing and the innovation-based view of firm performance, it addresses a major gap in the literature.

The innovation-based arguments illustrate how efficient data management may lead to different types of innovation, which provide opportunities for growth and efficiency gains after the coronavirus pandemic.

Many companies’ digitalization programs have concentrated on strengthening the efficiency of current business processes. Thus, these initiatives have contributed to the efficiency of traditional analog activities by using data and smart algorithms. In contrast, the efficiency of the underlying data management was largely neglected, but the COVID-19 pandemic has highlighted its importance. To overcome the limited emphasis on sustainability and efficiency in the digital context, this paper focuses on data management efficiency. After detailing this concept, it is linked to the growing literature about creating shared value, and a process segmentation for implementing shared value innovations in the field of digital efficiency is developed.

The paper extends research into digital transformation by emphasizing that the distinction of effectiveness and efficiency is as relevant in the digital context as in the traditional analog environment. It further provides new insights into creating shared value because it increases the awareness of researchers and managers to consider data management efficiency as a basis for shared value innovation with positive effects on the triple bottom line. The paper also contributes to entrepreneurial marketing research because data management efficiency provides significant opportunities for entrepreneurs, startup firms and innovators in established organizations to develop entirely new markets based on new services, solutions and business models. Finally, the paper deepens the understanding of the innovation-based view of firm performance.

After the Collective Forest Tenure Reform (CFTR) in China, the enthusiasm of farmers for forestry management is stimulated. However, the forest tenure security varies among farmers, making the research conclusions of its impact on forestry management efficiency inconsistent. Based on the survey data of 1,627 households from the collective forest regions in 6 provinces of China in 2017, this paper not only discusses the differences of farmers' forestry management efficiency after the reform, but also further explores the heterogeneous impact of forest tenure security on forestry management efficiency in combination with different forest management types.

This study employed the stochastic frontier production function model to measure the forestry management efficiency of farmers. Then, Tobit models were used to discuss the influencing factors of farmers' forestry management efficiency.

The results demonstrate that the improvement of farmers' forest tenure security can effectively improve forestry management efficiency, but the effect is affected by forest management types. For farmers who manage economic forests and non-timber forests, safe tenure promotes the forestry management efficiency; while for those who manage ecological public welfare forests, tenure security plays an opposite role.

Therefore, satisfying farmers' differentiated demands for forest tenure according to forest management types to improve forest tenure security and further refining supporting policies of collective forestry reform is of great significance to improve the efficiency of farmers' forestry management in collective forest regions.

This study aims to examine the relationships among International Financial Reporting Standards (IFRS) adoption, earnings management, and corporate efficiency.

First, the authors employ the epsilon-based measure (EBM) of the data envelopment analysis to measure the corporate performance of the Taiwanese electronics industry from 2011 to 2014. Second, the authors regress the IFRS adoption and earnings management on corporate efficiency.

The findings show that the corporate efficiency deteriorated after IFRS adoption. Although the regression analysis shows that the relationship between earnings management and corporate efficiency is significantly positive, the authors find that IFRS adoption is effective in unveiling earnings management. Moreover, IFRS adoption moderates the impact earnings management and corporate efficiency.

This study provides reference for decision-makers in the application of accounting principles and in the understanding of the IFRS impact adoption.

IFRS adoption can either facilitate or limit the earnings management that would affect corporate efficiency significantly and help the electronics industry as well as investors to know the changes in accounting principles and their effects on corporate efficiency.

The authors use the EBM of efficiency model to measure corporate efficiency and employ the modified Jones model to measure earnings management.

This case study aims to examine the role of demand management in balancing distribution efficiency and responsiveness to customer needs in the downstream of a retail supply chain.

A major machine part supplier in Australia is used as a case study to investigate the challenges faced by the industry in distributing goods to customers. The use of demand management techniques to help improve distribution efficiency without significantly impacting on responsiveness is also explored.

The findings of the case study reveal that appropriate demand management measures, such as customer segmentation and price discrimination, can help improve overall distribution efficiency of the supply chain while providing the required responsiveness to meet genuine customer needs. Other management attempts, such as vendor‐managed inventory and rationalisation of retail network, can facilitate demand aggregation and improve vehicle utilisation in distribution with minor impact on customer service. These changes require a full understanding of customer requirements and supply capabilities of the company as well as corresponding adjustments in business strategy, leadership style, and organisational culture.

This study lends insight into the use of demand management techniques to improve efficiency in downstream wholesale and retail distribution, thereby enhancing sustainability and profitability of business. To serve mainly as a case study and an illustration of the approach, the scope of the study is limited to six stores in the distribution network of the case company.

Retailers can explore the use of demand management techniques to increase distribution efficiency and hence competitiveness of the company. The approach can also assist managers in adopting best practices among stores and facilitate more effective allocation of distribution resources to serve different market segments.

Using demand management techniques to increase distribution efficiency can reduce delivery frequency and total travel distance. This will help lessen energy usage, carbon emission, traffic congestion, and other negative impacts on the environment.

Research in retail distribution efficiency to date focuses mainly on delivery optimisation through routing and scheduling. Attempts to link demand with supply and use demand management techniques to improve distribution efficiency are relatively limited. This paper fills the gap in the literature by investigating the value of demand management in distribution and explores empirically the significance of the approach to achieve higher wholesale and retail distribution efficiency.

The purpose of this paper is to examine the relationship between earnings management and the efficiency of French firms’ investments. It also investigates the moderating effect of board of directors’ features on this relation.

This study is based on a sample of French listed companies from 2011 to 2015, i.e. 435 firm-year observations. The authors use the instrumental variable method based on 2SLS models.

The authors show that there is a negative relationship between earnings management and investment efficiency. This finding supports the theoretical perspective of the agency theory, as the propensity of firms to engage in earnings management practices is associated with high managerial opportunistic behavior and asymmetric information issues, leading to the problem of under and overinvestment. The findings also show that board size, independence and gender diversity are positively associated with investment efficiency. These board features moderate the relationship between earnings management and investment efficiency suggesting that earnings quality plays a more prominent role in guiding managers to choose the right investments when the corporate governance environment is strong.

The negative relationship between earnings management and investment efficiency suggests that firms with lower earnings quality are exposed to high information asymmetries. They are then more likely to deviate from their expected level of investments. In addition, the results highlight the importance of corporate financial transparency and board monitoring to reduce agency costs and ensure the efficiency of corporate investments, particularly in a setting where investors’ interests are poorly protected.

This paper is the first to the best of the authors’ knowledge to examine the effect of earnings management, a metric for earnings quality, on the corporate investment efficiency in France. Besides, they extend previous literature by investigating how board features are able to monitor managerial actions and decisions and therefore to moderate the effect of earnings management on investment efficiency.