Search results

1 – 10 of 10
Article
Publication date: 29 August 2020

Krishnan Dandapani and Manuchehr Shahrokhi

Abstract

Details

Managerial Finance, vol. 46 no. 6
Type: Research Article
ISSN: 0307-4358

Article
Publication date: 1 March 2022

Manuchehr Shahrokhi, Ali M. Parhizgari, Mohammad Hashemijoo, Collins E. Okafor, Yuka Nishikawa and Alireza Dastan

The authors revisit the inquiry into the primacy of shareholders vis-à-vis stakeholders that has been debated since 19th Century. The authors consider B-business firms as…

Abstract

Purpose

The authors revisit the inquiry into the primacy of shareholders vis-à-vis stakeholders that has been debated since 19th Century. The authors consider B-business firms as the closest groups of firms that have considerable similarities to stakeholders' firms. The authors model the impact of being certified as stakeholders (B-business) firms in a worldwide environment.

Design/methodology/approach

Employing daily returns data of B-corporations in a global setting during 2010–2021, the authors quantify and compare the firms' performance in the pre- and post-certified periods, measure the effect of their environmental social governance (ESG) scores on their performance and gauge the entire results on a standardized approach that yields easy interpretation.

Findings

Subject to some caveats arising from limited coverage and the lack of data on proper control variables, the findings, based on the statistical significance of the estimated coefficients, do not indicate any changes in B-corporations' performance in their post-certification dates. Notwithstanding that, market factor appears to be the driving force consistently.

Originality/value

Prior studies on B-corporations are overwhelmingly qualitative. The current study is the first study that evaluate performance of B-corporations' returns at firm level with daily data.

Details

Managerial Finance, vol. 48 no. 8
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 5 June 2019

Ehsan Nikbakht, Manuchehr Shahrokhi and Alford Corriette

The purpose of this paper is to investigate the emergence of blockchain to determine its feasibility for electronic transfer payments. An integrated conceptual framework…

Abstract

Purpose

The purpose of this paper is to investigate the emergence of blockchain to determine its feasibility for electronic transfer payments. An integrated conceptual framework is developed for blockchain electronic transfer. The three “markers” of classic money (store of value, medium of exchange and unit of account and efficiency) are assessed in the case of blockchain technology. A survey is also conducted among the executives of financial vs manufacturing sectors with respect to five major variables for the emerging distributed financial data based on blockchain.

Design/methodology/approach

Conducting a literature review and using prior knowledge from the works of those well-versed and knowledgeable in the field. This research is also supported by collecting and analyzing the results of a behavioral survey of the executives in two different industries.

Findings

Blockchain technology has the potential to have widespread change in how firms operate and implement a new method for electronic payments transfer through cryptocurrencies. Although the community for blockchain technology is deregulated and has drawbacks, it is expected that the limitations will gradually be mitigated through its growth. The results of the behavioral survey show that there are significant differences between the expectations/perceptions of participants in the sectors of finance vs manufacturing. Namely, the knowledge/awareness of participants about blockchain, the value-added convenience for end users, and participants’ willingness to embracing and accepting new applications are significantly different between the two sectors.

Originality/value

The reach and applications for Blockchain are not limited to business or any particular sector. Blockchain technology may contribute to the operations of different types of organizations and industry sectors. Since the perception of participants about blockchain is different between selected industries, this research suggests the need for more education and building awareness among the participants in different sectors of the economy.

Details

Managerial Finance, vol. 46 no. 6
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 29 June 2022

Krishnan Dandapani and Manuchehr Shahrokhi

The purpose of this study is the development of an integrated framework between corporate governance and sustainability, based on the advancements within the field of…

Abstract

Purpose

The purpose of this study is the development of an integrated framework between corporate governance and sustainability, based on the advancements within the field of contemporary governance leading to a renewed focus on sustainable development.

Design/methodology/approach

In this paper, the authors provide succinct summary of the evolution of corporate governance over the past century from an historical perspective: starting with the early work of Berle and Means – which focuses on the legal separation of ownership and control – and the subsequent challenges within this framework – all the way to analyzing the major impact of Nobel Laureate Milton Freidman’s work on corporate goals and governance. The authors' approach identifies the key transformation of corporate goals and corporate goals' paradigm shift in progression and focus within corporate houses over time, including how these are approached in the present day by integrating the concept of primacy of all stakeholders. The authors relate this to contemporary developments in the Business Round table and the United Nations’ adoption of the 2030 Agenda for Sustainable Development Goals. The authors also identify specific corporate governance themes within global economic forums, as well as the critical interlinkages needed by all global corporations to achieve sustainable growth.

Findings

The primary objectives of the corporate governance themes adopted by global economic forums this decade are in the best interest of all stakeholders – including customers, employees, regulators, local communities, and shareholders. This applies both during periods of relative stability and during crises. A review of the good corporate governance relies on internal mechanisms such as the structure of a board and incentives for management, and on external mechanisms such as institutions that demand accountability. All these mechanisms are important as the mechanisms form the core of how (and for whom) corporations generate value. Ultimately, optimal corporate governance can help deliver both economic gains and societies that value all.

Practical implications

With globalization, the public has higher expectations from corporate CEOs than in the past. Corporate leaders have the ultimate responsibility for creating an organizational culture that supports trust and ensures that corporate leaders' management and employees embody and act on the stated values and mission of their organization. Areas of increased social expectations that require the attention of boards of directors include diversity, transparency, equal opportunity, and eliminating all forms of harassment.

Originality/value

This study identifies a viable agenda for global corporations based on concurrent developments to achieve sustainable development and growth. The recent related research work is also presented.

Details

Managerial Finance, vol. 48 no. 8
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 7 June 2019

Manuchehr Shahrokhi and A.M. Parhizgari

The purpose of this paper is to analyze the determinants and the operational aspects of real estate crowdfunding (RECF henceforth). It addresses RECF growth, drivers and…

Abstract

Purpose

The purpose of this paper is to analyze the determinants and the operational aspects of real estate crowdfunding (RECF henceforth). It addresses RECF growth, drivers and platforms in light of modern digital technology.

Design/methodology/approach

A comparison with traditional real estate funding is provided, and the ease and advantages that RECF offers to real estate investors are analyzed. The risks and rewards of crowdfunding in general and RECF in particular are also addressed.

Findings

Inasmuch as RECF appears novel and disruptive, research in this paper dates RECF back to the seventieth century. The findings thus posit that RECF is an evolutionary process while it is currently transformative and disruptive.

Originality/value

This is a novel look into RECF, particularly in terms of data, analyses and evaluation of alternatives.

Details

Managerial Finance, vol. 46 no. 6
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 1 March 1989

K.C. Chen and Manuchehr Shahrokhi

This paper has demonstrated the impacts of default risk, personal taxes, leverage‐related costs, and the limited liability of security‐holders on the systematic risk of…

Abstract

This paper has demonstrated the impacts of default risk, personal taxes, leverage‐related costs, and the limited liability of security‐holders on the systematic risk of equity. Since more than one of the aforementioned market imperfections exists in the real world, the results derived in this paper have been shown to be more general in specification than Hamada and Rubinstein's traditional formulation. The analysis also demonstrates that failure to recognize these market imperfections tends to bias the estimation of systematic risk.

Details

Managerial Finance, vol. 15 no. 3
Type: Research Article
ISSN: 0307-4358

Article
Publication date: 1 August 1998

Reza Motameni and Manuchehr Shahrokhi

Since late 1980s there has been a frenzy of mergers and acquisitions in which brands have played the primary role. It is no longer rare to find offers at a multiple of…

22890

Abstract

Since late 1980s there has been a frenzy of mergers and acquisitions in which brands have played the primary role. It is no longer rare to find offers at a multiple of more than 25 times company earning, or two or three times its share value. In this paper we attempt to reach several objectives. First, the marketing and finance perspectives of brand equity are presented, and their interrelationships are shown. Second, the different measurements of brand equity are presented. Next, a comprehensive model of global brand equity, which we believe is capable of both estimating the brand equity more accurately and show the sources of the equity will be proposed.

Details

Journal of Product & Brand Management, vol. 7 no. 4
Type: Research Article
ISSN: 1061-0421

Keywords

Article
Publication date: 1 May 1989

Rafael Solis and Manuchehr Shahrokhi

Only recently have the applications of expert systems in finance received tremendous attention from not only the practitioners but the academicians as well. Widespread…

Abstract

Only recently have the applications of expert systems in finance received tremendous attention from not only the practitioners but the academicians as well. Widespread applications of this technology in diverse financial problems include credit management loan evaluation portfolio analysis capital budgeting cash flow analysis, and so forth. Another problem area that can benefit from this technology is the lease versus purchase decision, the joint process of corporate capital budgeting decision and financing decision. Because of the complex nature in the evaluation of the lease versus purchase decision, expert systems are thus appropriate for this type of application.

Details

Managerial Finance, vol. 15 no. 5
Type: Research Article
ISSN: 0307-4358

Article
Publication date: 9 May 2008

Manuchehr Shahrokhi

This purpose of this paper is to provide an overview of the status of e‐finance and discuss related issues and challenges. Provides data about growth of e‐finance in the…

14671

Abstract

Purpose

This purpose of this paper is to provide an overview of the status of e‐finance and discuss related issues and challenges. Provides data about growth of e‐finance in the last decade. Introduces advances and innovations in e‐finance and challenges facing the financial services and IT industries.

Design/methodology/approach

The paper employs the archival method of reviewing related literature (theoretical, applied and empirical) and organizing and presenting the topics to provide an overview of e‐finance status.

Findings

The major contributions and finding of this paper include all areas of e‐finance, application of technology to e‐finance, growth of the e‐finance in the financial services industry.

Research limitations/implications

The paper provides areas of e‐finance that face many different challenges and calls for further research in a number of areas related to e‐finance technology and the interface of financial services and IT.

Practical implications

The paper brings all scattered information and data about e‐finance under one umbrella that would make scholars and practitioners aware of advances in e‐finance and applications of innovations and new technology to financial services provided.

Originality/value

The main value or contribution of this paper is bringing together most of available literature, advances, innovations, application of IT in the financial services industry and showing how organizations could benefit from such innovations. It also provides ideas to scholars for further research in this area.

Details

Managerial Finance, vol. 34 no. 6
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 21 August 2017

Jenni Romaniuk, Samuel Wight and Margaret Faulkner

Brand awareness is a pivotal, but often neglected, aspect of consumer-based brand equity. This paper revisits brand awareness measures in the context of global brand management.

9602

Abstract

Purpose

Brand awareness is a pivotal, but often neglected, aspect of consumer-based brand equity. This paper revisits brand awareness measures in the context of global brand management.

Design/methodology/approach

Drawing on the method of Laurent et al. (1995), this cross-sectional longitudinal study examines changes in brand awareness over time, with sample sizes of approximately 300 whisky consumers per wave in three countries: United Kingdom, Taiwan and Greece.

Findings

There is consistency in the underlying structure of awareness scores across countries, and over time, extending the work of Laurent et al. (1995). Results show that a relevant operationalisation of brand awareness needs to account for the history of the brand. Furthermore, the nature of the variation of brand awareness over time interacts with a brand’s market share.

Research limitations/implications

When modelling the impact of brand awareness researchers need to consider two factors – the brand’s market share and whether a more stable or volatile measure is sought. This avoids mis-specifying the country-level contribution of brand awareness.

Practical implications

Global brand managers should be wary of adopting a “one size fits all” approach. The choice of brand awareness measure depends on the brand’s market share, and the desire for higher sensitivity or stability.

Originality/value

The paper provides one of the few multi-country investigations into brand awareness that can help inform global brand management.

Details

Journal of Product & Brand Management, vol. 26 no. 5
Type: Research Article
ISSN: 1061-0421

Keywords

1 – 10 of 10