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1 – 10 of 16Peng Ning, Lixiao Geng and Liangding Jia
Drawing on bargaining power and the inequality aversion perspective, this study aims to probe employees’ influence on addressing income inequality between top executives and…
Abstract
Purpose
Drawing on bargaining power and the inequality aversion perspective, this study aims to probe employees’ influence on addressing income inequality between top executives and nonexecutive employees. Meanwhile, it examines the moderating role of employee-related factors and plan attributes.
Design/methodology/approach
This study uses a staggered difference-in-differences design with a propensity scoring match approach and verification of the parallel trend assumption to test the hypotheses.
Findings
The results support the hypothesis that employee stock ownership plans (ESOPs) significantly reduce within-firm income inequality. The negative effect is amplified by both the presence of trade unions and the unemployment rate at the regional level, as well as the duration of the lock-in period and the scale of participants within the stock ownership plan.
Practical implications
This study has implications for income inequality research and ESOP design and provides theoretical support for policymakers and corporate governance.
Originality/value
This study contributes to the literature on income inequality by examining the implementation of ESOPs from the employee perspective. Furthermore, it extends the current literature by investigating the strengthening effects of regional factors and ESOP attributes on the relationship between ESOPs and income inequality. The conclusions provide new empirical evidence to promote the effective implementation of ESOPs by combining internal and external factors.
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Pattanaporn Chatjuthamard, Pornsit Jiraporn, Merve Kilic and Ali Uyar
Taking advantage of a unique measure of corporate culture obtained from advanced machine learning algorithms, this study aims to explore how corporate culture strength is…
Abstract
Purpose
Taking advantage of a unique measure of corporate culture obtained from advanced machine learning algorithms, this study aims to explore how corporate culture strength is influenced by board independence, which is one of the most crucial aspects of the board of directors. Because of their independence from the corporation, outside independent directors are more likely to be unbiased. As a result, board independence is commonly used as a proxy for board quality.
Design/methodology/approach
In addition to the standard regression analysis, the authors execute a variety of additional tests, i.e. propensity score matching, an instrumental variable analysis, Lewbel’s (2012) heteroscedastic identification and Oster’s (2019) testing for coefficient stability.
Findings
The results show that stronger board independence, measured by a higher proportion of independent directors, is significantly associated with corporate culture. In particular, a rise in board independence by one standard deviation results in an improvement in corporate culture by 32.8%.
Originality/value
Conducting empirical research on corporate culture is incredibly difficult due to the inherent difficulties in recognizing and assessing corporate culture, resulting in a lack of empirical research on corporate culture in the literature. The authors fill this important void in the literature. Exploiting a novel measure of corporate culture based on textual analysis, to the best of the authors’ knowledge, this study is the first to link corporate culture to corporate governance with a specific focus on board independence.
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This paper aims to study antiques enthusiasts’ perspectives on the recent stagnancy in the antiques market, along with their suggestions on how the antiques trade can forge a more…
Abstract
Purpose
This paper aims to study antiques enthusiasts’ perspectives on the recent stagnancy in the antiques market, along with their suggestions on how the antiques trade can forge a more secure path forward.
Design/methodology/approach
Using a qualitative analysis approach through netnography, this paper examines archived comments of antiques enthusiasts on a “r/antiques” subreddit.
Findings
This research studies connoisseurs’ insights into the reduction in antiques sales experienced by a wide cross-section of sellers, particularly independent and small business retailers. Specifically, the results of this paper’s discourse analysis show that technological advances on one hand and socioeconomic factors (e.g. income, family structure and lifestyle) on the other hand have had a significant negative impact on demand for antiques. In addition, specific attributes such as authenticity and sustainability emerged as potential key marketing elements for invigorating the broader public’s interest in purchasing antiques.
Originality/value
Despite their significant insights into the antiques market, antiques enthusiasts have not received the academic attention they deserve. Through discourse analysis of comments in an online antiques community, this paper draws attention to the vulnerabilities of antiques markets to a protracted climate of slow sales, while highlighting potential strategies on how to turn the tide for struggling antiques stores.
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Indranil Ghosh, Rabin K. Jana and Dinesh K. Sharma
Owing to highly volatile and chaotic external events, predicting future movements of cryptocurrencies is a challenging task. This paper advances a granular hybrid predictive…
Abstract
Purpose
Owing to highly volatile and chaotic external events, predicting future movements of cryptocurrencies is a challenging task. This paper advances a granular hybrid predictive modeling framework for predicting the future figures of Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Stellar (XLM) and Tether (USDT) during normal and pandemic regimes.
Design/methodology/approach
Initially, the major temporal characteristics of the price series are examined. In the second stage, ensemble empirical mode decomposition (EEMD) and maximal overlap discrete wavelet transformation (MODWT) are used to decompose the original time series into two distinct sets of granular subseries. In the third stage, long- and short-term memory network (LSTM) and extreme gradient boosting (XGB) are applied to the decomposed subseries to estimate the initial forecasts. Lastly, sequential quadratic programming (SQP) is used to fetch the forecast by combining the initial forecasts.
Findings
Rigorous performance assessment and the outcome of the Diebold-Mariano’s pairwise statistical test demonstrate the efficacy of the suggested predictive framework. The framework yields commendable predictive performance during the COVID-19 pandemic timeline explicitly as well. Future trends of BTC and ETH are found to be relatively easier to predict, while USDT is relatively difficult to predict.
Originality/value
The robustness of the proposed framework can be leveraged for practical trading and managing investment in crypto market. Empirical properties of the temporal dynamics of chosen cryptocurrencies provide deeper insights.
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Niluthpaul Sarker and S.M. Khaled Hossain
The study aims to investigate the influence of corporate governance practices on enhancing firm value in manufacturing industries in Bangladesh.
Abstract
Purpose
The study aims to investigate the influence of corporate governance practices on enhancing firm value in manufacturing industries in Bangladesh.
Design/methodology/approach
The study sample consists of 131 companies from 10 manufacturing industries listed in Dhaka stock exchange (DSE). Using the multiple regression method, the study analyzed 1,193 firm-year observations from 2012 to 2021.
Findings
The outcome reveals that managerial ownership, foreign ownership, ownership concentration, board size, board independence, board diligence and auditor quality have a significant positive influence on firm value. In contrast, audit committee size has no significant influence on firm value.
Originality/value
The practical implications of the current study demonstrated that good corporate governance creates value and must be invigorated for the interest of all stakeholders. Policymakers should formulate specific guidelines regarding firms' ownership structure and audit quality issues.
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The purpose of this paper is to examine the Shariah governance mechanisms of takaful insurance and their impact on its financial performance.
Abstract
Purpose
The purpose of this paper is to examine the Shariah governance mechanisms of takaful insurance and their impact on its financial performance.
Design/methodology/approach
The effect of Shariah governance mechanisms on financial performance is analyzed over 2012–2018 on a sample of 11 takaful listed insurances in the Middle East region. Using multiple regression models, four hypotheses addressing Shariah governance mechanisms are tested.
Findings
The findings generally reveal that Shariah governance has an impact on the financial performance of takaful insurance. The Shariah Supervisory Board (SSB) size, the members’ reputation and their qualifications are the main determinants of financial performance for listed takaful insurance.
Research limitations/implications
This paper includes two main limitations that may affect the accuracy of the finding. First, the results are restricted to the Middle East region and may not be generalized to other regions. Second, the sample is dominated by UAE, i.e. 4 takaful insurances out of 11.
Practical implications
Both Shariah governance and regular governance have an impact on the financial performance of takaful insurance. Yet, the effect of Shariah governance is more robust. To improve its financial performance, takaful insurance should expand the size of the SSB, hiring reputable scholars and recruit doctors in Islamic economics.
Originality/value
This research studies takaful insurance, unlike the majority of other works that have focused on Islamic banks.
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Aldo Salinas and Cristian Ortiz
The purpose of this study is to examine the relationship between the productive structure and the size of the informal economy in Latin American countries.
Abstract
Purpose
The purpose of this study is to examine the relationship between the productive structure and the size of the informal economy in Latin American countries.
Design/methodology/approach
The study employs econometric techniques for panel data covering the period from 2002 to 2017 and considering 17 Latin American countries. The evidence presented is based on the informal economy data generated by Medina and Schneider (2018) who estimate the size of the informal economy using a structural equation model and the share of manufacturing in total employment as a measure of the size of the manufacturing sector. Also, the study addresses the possible endogeneity bias in the relationship studied and makes the conclusions more robust, thus avoiding spurious correlations that weaken the findings.
Findings
The results indicate that most industrialized Latin American countries are associated with a smaller size of the informal economy.
Practical implications
The findings have important policy implications, as they suggest that Latin American economies need to switch the structure of the economy toward more sophisticated productive structures if they want to reduce the size of the informal economy. Thus, more efforts should be deployed to policies to diversify and upgrade economies.
Originality/value
The study contributes to the literature on the informal economy by connecting the country’s productive structure and informality. Specifically, the results show that the productive structure of countries is a plausible explanation for the size of the informal economy.
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Ahmed Elsayed Awad Bakry, Zubir Azhar and K. Kishan
To assist Malaysian public-listed companies (PLCs) in preparing corporate social responsibility (CSR) reports, Bursa Malaysia Berhad (BMB) launched the second edition of the…
Abstract
Purpose
To assist Malaysian public-listed companies (PLCs) in preparing corporate social responsibility (CSR) reports, Bursa Malaysia Berhad (BMB) launched the second edition of the Sustainability Reporting Guide (SRG) in 2018. This new SRG edition has several additional requirements for CSR reporting (CSRR), the most important of which is a chapter on assurance which provides detailed guidance on how it may be carried out. This study aims to determine whether the new SRG edition influences the extent of CSRR, and whether such effect is moderated by the provision of assurance on CSRR. It also aims to identify whether amending CSRR regulations and providing assurance on such reporting indirectly influences firm value through the possible improvement in the extent of CSRR.
Design/methodology/approach
This study performed a content analysis of the CSRR of a sample of Malaysian PLCs that maintained their positions among the top 100 companies by market capitalization between 2017 and 2020 to determine the extent of CSRR for the two years before and two years after the implementation of the new edition of SRG. This study conducted different statistical analyses to indicate whether the implementation of the second edition of SRG has an effect on enhancing the extent of CSRR, and whether the provision of assurance on such reporting moderates such an effect. This study then used instrumental variable regressions to examine the influence of the predicted extent of CSRR on firms’ value measured by Tobin’s Q.
Findings
This study found that the implementation of the second edition of SRG has a positive and significant influence on the extent of CSRR. This effect is strengthened by the provision of assurance on CSRR. Instrumental variable regressions also indicate that enhancing the extent of CSRR affected by the second edition of SRG is linked to higher firm value.
Originality/value
To the best of the authors’ knowledge, this study is one of the first to assess the determinants and implications of CSRR among Malaysian companies after adopting the second edition of SRG.
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Didem Yildiz, F. Tunc Bozbura, Ekrem Tatoglu and Selim Zaim
This study addresses a critical research gap by examining the pivotal role of organizational career management (OCM) in shaping employees’ career outcomes while also investigating…
Abstract
Purpose
This study addresses a critical research gap by examining the pivotal role of organizational career management (OCM) in shaping employees’ career outcomes while also investigating the mediating influence of career capital in this relationship. This study aims to shed light on the importance of OCM as a strategic approach for enhancing employees’ career trajectories, filling a significant gap in the existing literature.
Design/methodology/approach
Using a cross-sectional research design, primary data were gathered through a structured questionnaire administered to a diverse sample of 426 Turkish working adults representing various organizations. The study uses structural equation modelling with AMOS to analyse the direct and indirect relationships within the proposed research model.
Findings
The study findings underscore the essential connection between OCM and employees’ career outcomes, revealing its positive influence on subjective career success, employability and innovative work behaviour. Moreover, career capital emerges as a critical intermediary mechanism that mediates the impact of OCM on these career outcomes, further highlighting the strategic significance of OCM practices.
Research limitations/implications
It is important to note that this study relies on self-report surveys to gauge employees’ perceptions about their career outcomes and OCM. Additionally, the study data are confined to the Turkish context, which may influence the generalizability of the findings to other contexts.
Practical implications
Organizations can bolster career outcomes through strategic investment in OCM. Industries can customize approaches, leveraging insights to optimize workforce potential. Policymakers should integrate career development principles, cultivating a culture of perpetual learning, thus fortifying organizational resilience and fostering sustainable success.
Originality/value
This study adds substantial value to the current body of knowledge by investigating the mediating role of career capital in the relationship between OCM and individual career outcomes, particularly within the context of emerging economies like Turkey. The study’s comprehensive approach to understanding careers from both individual and organizational perspectives contributes to a more nuanced and holistic understanding of career dynamics.
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Joyce Shaffer and Freda Gonot-Schoupinsky
The purpose of this paper is to meet Dr Joyce Shaffer, PhD, ABPP, Clinical Associate Professor at the University of Washington.
Abstract
Purpose
The purpose of this paper is to meet Dr Joyce Shaffer, PhD, ABPP, Clinical Associate Professor at the University of Washington.
Design/methodology/approach
This case study is presented in two sections: a positive autoethnography written by Joyce Shaffer, followed by her answers to ten questions.
Findings
In this positive autoethnography, Shaffer shares her life story and reveals numerous mental health and positive aging recommendations and insights for us to reflect on.
Research limitations/implications
This is a personal narrative, albeit from someone who has been a clinical psychologist and active in the field of aging for many decades.
Practical implications
A pragmatic approach to aging is recommended. According to Shaffer, “those of us who can recognize the beat of the historical drummer can harvest the best of it and learn from the rest of it.”
Social implications
Positive aging has strong social implications. Shaffer considers that it is not only about maximizing our own physical, mental, emotional and social health but also about maximizing that of others, to make our world a better place for everyone.
Originality/value
Positive aging can be experienced despite adversity. As Shaffer says, “Adversity used for growth and healed by love is the answer.”
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