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Article
Publication date: 28 December 2023

Jihane Benkhaira and Hafid El Hassani

The present article aims to estimate an autoregressive vector model covering the period of 1990–2021 to analyze the effect of public spending and monetary supply increases in…

Abstract

Purpose

The present article aims to estimate an autoregressive vector model covering the period of 1990–2021 to analyze the effect of public spending and monetary supply increases in economic activity in Morocco.

Design/methodology/approach

A literature review on the policy of recovery with fiscal and monetary tools and its theoretical foundations was established. Then, an empirical study on the Moroccan context was executed to study the effectiveness of these instruments in Morocco from 1990 to 2021, using autoregressive vector modeling.

Findings

The results present a state of a positive relationship and statistical significance of public spending, money supply and economic growth. The impulse response function analysis and the forecast error variance decomposition showed that public spending does not have a large impact on gross domestic product, while the money supply has a real power to stimulate the growth of economic activity in Morocco.

Originality/value

This study aims to demonstrate the positive effect of the coordination of public spending and monetary supply increases on gross domestic product in Morocco. Additionally, the analysis using vector autoregressive modeling, impulse response functions, variance decomposition techniques and causality tests, provides crucial insights to guide researchers, practitioners and policymakers in developing more effective and resilient economic strategies. The findings from this study not only illuminate immediate recovery strategies but also contribute to strengthening the resilience of economies against potential future shocks.

Details

African Journal of Economic and Management Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-0705

Keywords

Article
Publication date: 20 December 2023

Sajad Bagow and Nufazil Altaf

This study presents a systematic review of the literature on monetary policy and corporate investment together with bibliometric analysis.

Abstract

Purpose

This study presents a systematic review of the literature on monetary policy and corporate investment together with bibliometric analysis.

Design/methodology/approach

This study selected 455 articles from databases, Scopus and Web of science and the papers are reviewed systematically to identify their theoretical and empirical contributions.

Findings

The results reveal that monetary policy can influence corporate investment. Post to the economic crisis (2008), there is an exponential growth in the number of publications. Berger, A., and Hubbard are the two prominent authors based on the highest citation score, whereas Marquez, R., and Vermuelen, P. are the two prolific authors, subject to their highest h-index. Journal of Banking & Finance was the top journal (total citations = 1482) and 5 publications.

Practical implications

This study positively contributes to the comprehensive understanding of corporate investment, monetary policy transmission and firm capital structure choices.

Originality/value

To the best of the author’s knowledge, this is the first study that conducts a systematic review of the influence of monetary policy on corporate investment.

Details

Journal of Economic and Administrative Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1026-4116

Keywords

Open Access
Article
Publication date: 17 April 2024

Sara Persson

Political Corporate Social Responsibility (CSR), based on ideas about deliberative democracy, have been criticised for increasing corporate power and democratic deficits. Yet…

Abstract

Purpose

Political Corporate Social Responsibility (CSR), based on ideas about deliberative democracy, have been criticised for increasing corporate power and democratic deficits. Yet, deliberative ideals are flourishing in the corporate world in the form of dialogues with a broad set of stakeholders and engagement in wider societal issues. Extractive industry areas, with extensive corporate interventions in weak regulatory environments, are particularly vulnerable to asymmetrical power relations when businesses engage with society. This paper aims to illustrate in what way deliberative CSR practices in such contexts risk enhancing corporate power at the expense of community interests.

Design/methodology/approach

This paper is based on a retrospective qualitative study of a Canadian oil company, operating in an Albanian oilfield between 2009 and 2016. Through a study of three different deliberative CSR practices – market-based land acquisition, a grievance redress mechanism and dialogue groups – it highlights how these practices in various ways enforced corporate interests and prevented further community mobilisation.

Findings

By applying Laclau and Mouffe’s theory of hegemony, the analysis highlights how deliberative CSR activities isolated and silenced community demands, moved some community members into the corporate alliance and prevented alternative visions of the area to be articulated. In particular, the close connection between deliberative practices and monetary compensation flows is underlined in this dynamic.

Originality/value

The paper contributes to critical scholarship on political CSR by highlighting in what way deliberative practices, linked to monetary compensation schemes, enforce corporate hegemony by moving community members over to the corporate alliance.

Details

Critical Perspectives on International Business, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1742-2043

Keywords

Article
Publication date: 16 October 2023

Helder Ferreira de Mendonça and Cristiane Nascimento de Lima

This paper aims to contribute to the analysis concerning how inflation forecasts from different economic agents (professional forecasters and consumers) lead to varying levels of…

Abstract

Purpose

This paper aims to contribute to the analysis concerning how inflation forecasts from different economic agents (professional forecasters and consumers) lead to varying levels of central bank credibility and how it affects the monetary policy interest rate and its expectations.

Design/methodology/approach

Based on the Brazilian economy data from June 2007 to May 2022, the authors provide evidence that is useful for search mechanisms that improve the conduct of monetary policy through the management of inflation expectations. The authors perform several ordinary least squares and generalized method of moments regressions inspired by the Taylor rule principle. In brief, the benchmark model considers that the monetary policy interest rate and its expectations respond to departures of inflation expectations to the target (a proxy for central bank credibility) and the level of economic activity.

Findings

The main result of the analysis is that inflation expectations from professional forecasters and consumers imply different perceptions of central bank credibility that affect the monetary policy interest rate and expectations for horizons until one year ahead.

Originality/value

The novelty that the authors bring from the analysis is that the authors calculate central bank credibility by taking into account the “public beliefs” of different economic agents. Furthermore, the authors analyze the effect of central bank credibility from professional forecasters and consumers on the monetary policy interest rate and its expectations.

Details

Journal of Economic Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 3 November 2023

Jhih-Hua Jhang-Li and I. Robert Chiang

The purpose of this paper is to investigate both the impact of different reward types and the adoption of knowledge-sharing practice on a crowdsourcing-based open innovation…

Abstract

Purpose

The purpose of this paper is to investigate both the impact of different reward types and the adoption of knowledge-sharing practice on a crowdsourcing-based open innovation contest. Despite the benefit of knowledge sharing, contestants could struggle to find a balance between knowledge sharing and knowledge protection in open innovation.

Design/methodology/approach

The authors' approach follows a stylised contest model in a game-theoretical setting in which contestants first decide on their efforts and then the contest sponsor chooses the winner. Moreover, the outcome of an open innovation contest is delineated as either intermediate goods that require further refinement and risk-taking versus a market-ready end product for the contest sponsor. The authors also investigate how knowledge sharing among contestants would be influenced by reward types such as fixed-monetary prizes vs performance-contingent awards.

Findings

The contest sponsor will lower the prize level after adopting knowledge sharing. Therefore, the total effort will decline regardless of the reward type. Moreover, the choice of reward types depends on the contest sponsor's characteristics because the performance-contingent award is suitable for a large market size but the fixed-monetary prize can more efficiently raise the quantity of contestant inputs.

Originality/value

Prior studies have tested the connection between contest performance and knowledge sharing in crowdsourcing-based contests; however, there is not an integrated framework to best design the operation of a contest when considering different reward types and knowledge-sharing practices.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

Open Access
Article
Publication date: 1 March 2023

Stefano Marchese, Luca Gastaldi and Mariano Corso

This paper explores how adaptive organizations, companies capable of continuously adapting their organizational model, dynamically solve the universal problems of organizing.

1340

Abstract

Purpose

This paper explores how adaptive organizations, companies capable of continuously adapting their organizational model, dynamically solve the universal problems of organizing.

Design/methodology/approach

The authors applied grounded theory to data acquired from six interpretative case studies, collected in two rounds of interviews (15 in total), then completing and validating the study’s evidence through triangulation with several secondary data sources.

Findings

In adaptive organizations, polyarchies and intrapreneurial employees are essential to shape the division of labour, leading to high levels of autonomy and empowering individuals and teams, while reducing bureaucracy and hierarchy. In terms of the integration of effort, digital solutions are preferred to social proof in the provision of information, while the authors note that incentives are always geared towards developing strong higher-order dynamic capabilities.

Research limitations/implications

This paper has some limitations that could be addressed in future research, including longitudinal studies to analyse the link between the universal problems of organizing and a company's dynamic capabilities.

Practical implications

Adaptive organizations go beyond tech firms in responding to the universal problems of organizing work by making specific use of digital technologies.

Originality/value

The paper studies how companies should organize themselves so that they continuously adapt to an ever-changing competitive environment.

Details

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

Keywords

Article
Publication date: 26 March 2024

Ming-Hong Tsai

This paper aims to investigate why followers have low perceptions of leader openness and thus feel reluctant to communicate novel ideas by examining leader–follower relationship…

Abstract

Purpose

This paper aims to investigate why followers have low perceptions of leader openness and thus feel reluctant to communicate novel ideas by examining leader–follower relationship conflict (i.e. interpersonal incompatibility) and a follower’s power distance orientation (i.e. an acceptance of uneven power distribution in organizations) as antecedents.

Design/methodology/approach

The research administrators conducted a three-wave work behavior survey in Study 1, a laboratory experiment in Study 2, and an online experiment in Study 3.

Findings

The results demonstrated that leader–follower relationship conflict reduced followers’ perceptions of leader openness. However, the negative impact of relationship conflict became non-significant when followers have high power distance orientations (i.e. an acceptance of uneven power distribution in organizations). The findings also showed an indirect interaction effect of leader–follower relationship conflict and followers’ power distance orientation on the followers’ communication of novel ideas through the followers’ perceptions of leader openness.

Originality/value

The research suggests that followers with higher power distance orientations are more likely to communicate novel ideas consistently because their relationship conflicts with their leaders do not negatively influence their perceptions of leader openness. Although researchers traditionally view cultures with a high level of power distance value as an obstacle to employee creativity, the present study reveals the benefits of an individual-level power distance orientation.

Details

International Journal of Conflict Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1044-4068

Keywords

Article
Publication date: 16 October 2023

Hazem Aldabbas, Ashly Pinnington, Abdelmounaim Lahrech and Lama Blaique

This study aims to investigate the relationship between extrinsic rewards and employee creativity through the intervening mechanism of perceived organisational support (POS) and…

Abstract

Purpose

This study aims to investigate the relationship between extrinsic rewards and employee creativity through the intervening mechanism of perceived organisational support (POS) and work engagement. The moderating role of intrinsic motivation on the relationship between work engagement and employee creativity is also examined.

Design/methodology/approach

The authors report the results of a survey completed by 372 respondents employed in the United Arab Emirates. Structural equation modelling was applied to test the hypothesised relationships.

Findings

The main findings are that extrinsic rewards influence employee creativity through POS and work engagement. Moreover, the effect of work engagement on employee creativity is moderated by intrinsic motivation. This model effect is stronger for employees with high intrinsic motivation.

Research limitations/implications

Convenience sampling was used, which limits its generalisability. Also, the data were collected through a cross-sectional survey at one point in time.

Practical implications

Managers should consider provision of extrinsic rewards and support to increase employee motivation and engagement in creative work.

Originality/value

This study contributes to the limited amount of available literature on creativity and rewards adding to our knowledge about the influence of extrinsic rewards on creativity considered in the presence of intrinsic motivation. Theoretical and practical recommendations are discussed.

Details

International Journal of Innovation Science, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1757-2223

Keywords

Article
Publication date: 29 April 2024

Azfar Anwar, Abaid Ullah Zafar, Armando Papa, Thi Thu Thuy Pham and Chrysostomos Apostolidis

Digital healthcare manages to grab considerable attention from people and practitioners to avoid severity and provide quick access to healthcare. Entrepreneurs also adopt the…

Abstract

Purpose

Digital healthcare manages to grab considerable attention from people and practitioners to avoid severity and provide quick access to healthcare. Entrepreneurs also adopt the digital healthcare segment as an opportunity; nevertheless, their intentions to participate and encourage innovation in this growing sector are unexplored. Drawing upon the social capital theory and health belief model, the study examines the factors that drive entrepreneurship. A novel model is proposed to comprehend entrepreneurial intentions and behavior entrenched in social capital and other encouraging and dissuading perceptive elements with the moderation of trust in digitalization and entrepreneurial efficacy.

Design/methodology/approach

The cross-sectional method is used to collect data through a questionnaire from experienced respondents in China. The valid data comprises 280 respondents, analyzed by partial least square structural equation modeling.

Findings

Social capital significantly influences monetary attitude, and perceived risk and holds an inconsequential association with perceived usefulness, whereas monetary attitude and perceived usefulness meaningfully explain entrepreneurial activities. Perceived risk has a trivial impact on entrepreneurial intention. Entrepreneurial efficacy and trust in digitalization significantly explain entrepreneurial behavior and moderate the positive relationship between intention and behavior.

Originality/value

The present research proposes a novel research model in the context of entrepreneurship rooted in a digitalized world and offering new correlates. It provides valuable insights by exploring entrepreneurial motivation and deterring factors to get involved in startup activities entrenched in social capital, providing guidelines for policymakers and practitioners to promote entrepreneurship.

Details

International Journal of Entrepreneurial Behavior & Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-2554

Keywords

Open Access
Article
Publication date: 22 June 2023

Ignacio Manuel Luque Raya and Pablo Luque Raya

Having defined liquidity, the aim is to assess the predictive capacity of its representative variables, so that economic fluctuations may be better understood.

Abstract

Purpose

Having defined liquidity, the aim is to assess the predictive capacity of its representative variables, so that economic fluctuations may be better understood.

Design/methodology/approach

Conceptual variables that are representative of liquidity will be used to formulate the predictions. The results of various machine learning models will be compared, leading to some reflections on the predictive value of the liquidity variables, with a view to defining their selection.

Findings

The predictive capacity of the model was also found to vary depending on the source of the liquidity, in so far as the data on liquidity within the private sector contributed more than the data on public sector liquidity to the prediction of economic fluctuations. International liquidity was seen as a more diffuse concept, and the standardization of its definition could be the focus of future studies. A benchmarking process was also performed when applying the state-of-the-art machine learning models.

Originality/value

Better understanding of these variables might help us toward a deeper understanding of the operation of financial markets. Liquidity, one of the key financial market variables, is neither well-defined nor standardized in the existing literature, which calls for further study. Hence, the novelty of an applied study employing modern data science techniques can provide a fresh perspective on financial markets.

流動資金,無論是在金融市場方面,抑或是在實體經濟方面,均為市場趨勢最明確的預報因素之一

因此,就了解經濟週期和經濟發展而言,流動資金是一個極其重要的概念。本研究擬在安全資產的價格預測方面取得進步。安全資產代表了經濟的實際情況,特別是美國的十年期國債。

研究目的

流動資金的定義上面已說明了; 為進一步了解經濟波動,本研究擬對流動資金代表性變量的預測能力進行評估。

研究方法

研究使用作為流動資金代表的概念變項去規劃預測。各機器學習模型的結果會作比較,這會帶來對流動資金變量的預測值的深思,而深思的目的是確定其選擇。

研究結果

只要在私營部門內流動資金的數據比公營部門的流動資金數據、在預測經濟波動方面貢獻更大時,我們發現、模型的預測能力也會依賴流動資金的來源而存在差異。國際流動資金被視為一個晦澀的概念,而它的定義的標準化,或許應是未來學術研究的焦點。當應用最先進的機器學習模型時,標桿分析法的步驟也施行了。

研究的原創性

若我們對有關的變量加深認識,我們就可更深入地理解金融市場的運作。流動資金,雖是金融市場中一個極其重要的變量,但在現存的學術文獻裏,不但沒有明確的定義,而且也沒有被標準化; 就此而言,未來的研究或許可在這方面作進一步的探討。因此,本研究為富有新穎思維的應用研究,研究使用了現代數據科學技術,這可為探討金融市場提供一個全新的視角。

Details

European Journal of Management and Business Economics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2444-8451

Keywords

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