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1 – 10 of 812Syden Mishi and Robert Mwanyepedza
The world over is becoming urbanized, and people are migrating to cities in large numbers in search of opportunities. The increased urbanization has posed challenges such as…
Abstract
The world over is becoming urbanized, and people are migrating to cities in large numbers in search of opportunities. The increased urbanization has posed challenges such as congestion, rising crime, and growing urban poverty. The governments respond by providing amenities such as schools, hospitals, and housing to meet to increase in demand for these facilities. However, there is a need for the provision of facilities that meets the expectations of the people, particularly on the proximity of amenities and bundles of utility-bearing housing characteristics. In an attempt to address the challenge mentioned, the study estimated the hedonic characteristics influencing the willingness to accept and willingness to pay for housing facilities in the Eastern Cape Province, South Africa. Using a multiple linear regression model and artificial neural network, the study found out that properties with a bathroom, garage and large floor size have a higher value compared to properties without these facilities.When making decisions to acquire a property, buyers consider the availability of discounts and the prevailing property price. Overall, willingness to pay and accept decisions are mainly determined by location and the price at which homogeneous neighborhood properties were sold. Therefore, the study recommends that urban town planners and other housing authorities prioritize the construction of properties with larger floor areas, parking bays, and bathrooms using a cost-effective mechanism that makes the properties affordable to residents.
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Daniel Abreu Vasconcellos de Paula, Rinaldo Artes, Fabio Ayres and Andrea Maria Accioly Fonseca Minardi
Although credit unions are nonprofit organizations, their objectives depend on the efficient management of their resources and credit risk aligned with the principles of the…
Abstract
Purpose
Although credit unions are nonprofit organizations, their objectives depend on the efficient management of their resources and credit risk aligned with the principles of the cooperative doctrine. This paper aims to propose the combined use of credit scoring and profit scoring to increase the effectiveness of the loan-granting process in credit unions.
Design/methodology/approach
This sample is composed by the data of personal loans transactions of a Brazilian credit union.
Findings
The analysis reveals that the use of statistical methods improves significantly the predictability of default when compared to the use of subjective techniques and the superiority of the random forests model in estimating credit scoring and profit scoring when compared to logit and ordinary least squares method (OLS) regression. The study also illustrates how both analyses can be used jointly for more effective decision-making.
Originality/value
Replacing subjective analysis with objective credit analysis using deterministic models will benefit Brazilian credit unions. The credit decision will be based on the input variables and on clear criteria, turning the decision-making process impartial. The joint use of credit scoring and profit scoring allows granting credit for the clients with the highest potential to pay debt obligation and, at the same time, to certify that the transaction profitability meets the goals of the organization: to be sustainable and to provide loans and investment opportunities at attractive rates to members.
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Arega Shumetie and Molla Alemayehu Yismaw
This study aims to examine the effect of climate variability on smallholders’ crop income and the determinants of indigenous adaptation strategies in three districts (Mieso…
Abstract
Purpose
This study aims to examine the effect of climate variability on smallholders’ crop income and the determinants of indigenous adaptation strategies in three districts (Mieso, Goba-koricha and Doba) of West Hararghe Zone of Ethiopia. These three districts are located in high-moisture-stress areas because of crop season rainfall variability.
Design/methodology/approach
Primary data collected from 400 sample households were used for identifying factors that affect households’ crop income. The study used ordinary least square (OLS) regression to examine the effect of climate variability. Given this, binary logit model was used to assess smallholders’ adaptation behavior. Finally, the study used multinomial logistic regression to identify determinants of smallholders’ indigenous adaptation strategies.
Findings
The OLS regression result shows that variability in rainfall during the cropping season has a significant and negative effect, and cropland and livestock level have a positive effect on farmers’ crop income. The multinomial logistic regression result reveals that households adopt hybrid crops (maize and sorghum) and dry-sowing adaptation strategies if there is shortage during the cropping season. Variability in rainfall at the time of sowing and the growing are main factors in the area’s crop production. Cropland increment has positive and significant effect on employing each adaptation strategy. The probability of adopting techniques such as water harvesting, hybrid seeds and dry sowing significantly reduces if a household has a large livestock.
Originality/value
The three districts are remote and accessibility is difficult without due support from institutions. Thus, this study was conducted on the basis of the primary data collected by the researchers after securing grant from Swedish International Development Agency (SIDA).
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Chayanon Phucharoen and Nichapat Sangkaew
A leading characteristic of international tourists at every tourist destination is their role as foreign–income disseminator, and a large number of papers have been dedicated to…
Abstract
Purpose
A leading characteristic of international tourists at every tourist destination is their role as foreign–income disseminator, and a large number of papers have been dedicated to exploring their behavior. In contrast, this paper aims to shed light on the supply-side of tourism through the study of a hotels’ ability to internationalize their businesses.
Design/methodology/approach
Based on each hotel’s input data, its efficiency was estimated by a data envelopment analysis approach. Then, the hotel’s intensity of demand from foreign guests was regressed against hotel efficiency along with firm’ control variables.
Findings
Results from Heckman correction model indicate that ordinary least squares regression would be subject to selection bias, and the results from the correction model strongly indicate a positive linkage between the hotel’s efficiency level and its foreign to total guest ratio, especially in the sub-sample of hotels located in non-tourist destinations. In addition, the results also reveal that the availability of certain services and facilities at hotels are positively related to the number of foreign guests, namely, a spa service and swimming pools.
Originality/value
Therefore, the main implications from this study are twofold. First, if a hotel’s target market is international travelers, a swimming pool and the availability of a spa service are essential features for hotels in Thailand. Second, policies to improve productivity in hotels should be simultaneously implemented along with tourist-destination-promotion campaigns to optimize the economic impact of international tourist arrivals.
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Cheuk-Wing Lui and Hon-Kwong Lui
While the Olympic Games are always under the spotlight, the Paralympic Games are somehow ignored. This paper aims to invite the general public to think about the para-athletes and…
Abstract
Purpose
While the Olympic Games are always under the spotlight, the Paralympic Games are somehow ignored. This paper aims to invite the general public to think about the para-athletes and the differential treatments they received.
Design/methodology/approach
Among the participating countries, many of them were unable to win a single Olympic or Paralympic medal. When the dependent variable is left-censored, ordinary least squares regression is asymptotically biased downwards. In the literature, researchers typically employ the maximum likelihood Tobit model to take care of the censoring problem. However, some researchers argue that the Hurdle model has an advantage over the Tobit model in identifying the determinants of winning Olympic medals. Following their wisdom, this paper employs both the Tobit and Hurdle models in analysis.
Findings
The empirical evidence gathered in this paper suggests that population size, host status and average years of schooling are the big three socio-economic determinants when it comes to winning medals at the Paralympic Games and Olympic Games. The findings support the hypothesis that sports talent is randomly distributed and a large country has a higher chance to have talented athletes or para-athletes winning the Olympic medals. The strong host advantage also showed up in the following Paralympics but was not so strong at the next Olympics.
Originality/value
This paper not only examines the relationship between various social, economic and political factors in determining the success of a nation in the Paralympic Games but also attempts to identify possible non-traditional determinants.
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Maria Gruber, Christiane Mayer and Sabine A. Einwiller
Social media empower individuals to voice their opinions about issues that they perceive to be unacceptable. When many others add their opinions and large quantities of messages…
Abstract
Purpose
Social media empower individuals to voice their opinions about issues that they perceive to be unacceptable. When many others add their opinions and large quantities of messages containing negative word-of-mouth suddenly spread online, an online firestorm occurs. By extending the situational theory of problem solving (Kim and Grunig, 2011) into the domain of online communication, this study aims to identify the drivers for participating in online firestorms.
Design/methodology/approach
With reference to a fictitious online firestorm trigger (i.e. perceived moral misconduct) posted on Facebook, a qualitative pre-study and quantitative online survey were conducted. Based on the responses of 410 participants, an ordinary least squares regression was modeled to examine the factors of participating in the online firestorm. Later, structural equation modeling was applied to test the model and gauge its fit with the data.
Findings
Participants' involvement recognition, perception of being collective actors and approval of slacktivism behaviors positively predicted their participation in the online firestorm, whereas non-anonymity hampered it.
Originality/value
The study's findings not only contribute to the current understandings of online firestorms but are also valuable for developing theory and forms of professional crisis management. Moreover, they offer insights into the factors of online communication environments that encourage users to voice their opinions.
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Ijaz Ur Rehman, Faisal Shahzad, Muhammad Abdullah Hanif, Ameena Arshad and Bruno S. Sergi
This study aims to empirically examine the influence of financial constraints on firm carbon emissions. In addition to the role of financial constraints in firm-level carbon…
Abstract
Purpose
This study aims to empirically examine the influence of financial constraints on firm carbon emissions. In addition to the role of financial constraints in firm-level carbon emissions, this study also examines this influence in the presence of governance, environmental orientation and firm-level attributes.
Design/methodology/approach
Using pooled ordinary least square, this study examines the impact of financial constraints on firm-level carbon emissions using a panel of 1,536 US firm-year observations from 2008 to 2019. This study also used two-step generalized method of moment–based dynamic panel data and two-stage least square approaches to address potential endogeneity. The results are robust to endogeneity and collinearity issues.
Findings
The results suggest that financial constraints enhance the carbon emissions of the firms. The economic significance of financial constraints on carbon emissions is more pronounced for the firms that do not report environment-related expenditure investment and those that are highly leveraged. The authors further document that firms with a nondiverse gender board signify a statistically significant impact of financial constraints on carbon emissions. These results are also economically significant, as one standard deviation increase in financial constraints is associated with a 3.340% increase in carbon emissions at the firm level.
Research limitations/implications
Some implicit and explicit factors like corporate emissions policy and culture may condition the relationship of financial constraints with carbon emissions. Therefore, it would be worthwhile to consider these factors for future research. In addition, it is beneficial to identify the thresholds and/or quantiles at which financial constraints may significantly make a difference in enhancing carbon emissions.
Practical implications
The findings offer policy implications for investment in stakeholder engagement for capital acquisitions, thereby effectively enforcing environmental innovation and leading to a reduction in carbon emissions.
Originality/value
This study integrated governance and environment-oriented variables in the model to empirically examine the role of financial constraints on the carbon emissions of the firms in the USA over and above what has already been documented in the earlier literature.
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Mohammad Mizenur Rahman, Syed Mohammad Khaled Rahman and Sakib Ahmed
The purpose of this study is to evaluate the effect of some internal features that influence the efficiency of non-bank financial institutions (NBFIs) in Bangladesh.
Abstract
Purpose
The purpose of this study is to evaluate the effect of some internal features that influence the efficiency of non-bank financial institutions (NBFIs) in Bangladesh.
Design/methodology/approach
The study selected the top 15 Dhaka Stock Exchange (DSE)-listed NBFIs according to purposive sampling. The study period was from 2016 to 2020. Secondary data were collected from annual reports. The cost-to-income ratio was a dependent variable that was used as a proxy of operational efficiency. The ordinary least square regression technique was applied to measure the impact of firm-specific factors on efficiency.
Findings
Results showed that number of employees, branch number, firm size and deposit ratio have a significant effect on efficiency at 5% level. The number of branches and employees showed a negative impact, whereas firm size and deposit ratio showed a positive effect on the firms' efficiency. The deposit ratio is negatively related because deposit interest expenses were more than offset by interest income generation through the conversion of deposits into loans.
Practical implications
The study has practical and policy implications on NBFIs' managers, employees, shareholders, depositors, clients, regulatory authorities and government as efficiency enhancement would bring financial soundness.
Originality/value
This study shed light on some firm-specific factors that can be changed to increase operational efficiency or reduce the cost-to-income ratio. The novelty of the study is that it identified some significant associations between firm-specific factors and the operational efficiency of NBFIs.
Ephrem Assefa Haile and Vala Lale Tüzüner
This study aims to determine the effect of organizational learning capability (OLC) on organizational innovation (OI) and identify the type of innovation that is accorded more…
Abstract
Purpose
This study aims to determine the effect of organizational learning capability (OLC) on organizational innovation (OI) and identify the type of innovation that is accorded more emphasis by Ethiopian manufacturing firms.
Design/methodology/approach
This study applied an explanatory research design, and cross-sectional data were gathered through structured questionnaires from general and HR managers of 197 manufacturing firms in Addis Ababa and Oromia, Ethiopia. The ordinary least square regression method was applied to analyze the data.
Findings
The study provides empirical insights into how OLC affects OI. The findings revealed that the sampled firms have scored low mean values in terms of OLC and OI. In addition, OLC had a positive but low effect on OI and its dimensions. Because of their weak institutional support, the sampled firms tended to emphasize administrative innovation rather than product and process innovations.
Research limitations/implications
This study would have yielded better results if it was built on evidence-based data to reveal how radical or incremental OIs are, as well as how OLC and OI vary across different sectors. The theoretical and practical implications drawn from the findings are also presented.
Originality/value
There is little empirical evidence of the nexus among OLC, process and administrative innovations, especially from the perspective of developing economies. This study empirically supports the direct relationship between the constructs. In developing countries such as Ethiopia, where there are weak institutional resources and support, administrative innovation shall be emphasized in the short run.
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This study examines the relation between the presence of analysts’ long-term growth (LTG) forecasts and the post-earnings-announcement drift (PEAD).
Abstract
Purpose
This study examines the relation between the presence of analysts’ long-term growth (LTG) forecasts and the post-earnings-announcement drift (PEAD).
Design/methodology/approach
Using a sample of firm-quarters from 1995 to 2013, the author conducts various regression analyses.
Findings
The author finds that the magnitude of PEAD is significantly smaller for firms with LTG forecasts. The relationship holds after controlling for a wide range of explanatory variables for PEAD returns or for the presence of LTG forecasts. The author further investigates three nonexclusive hypotheses to explain this relationship. First, LTG forecasts may convey incremental value-relevant information that facilitates investors’ processing of short-term earnings information. Second, the presence of LTG forecasts may indicate superiority in analysts’ short-term forecast ability and identify firms with more efficient short-term forecasts. Third, the presence of LTG forecasts may be associated with cross-sectional differences in the persistence of earnings surprises. The author finds that none of these fully accounts for the negative relationship between the presence of LTG forecasts and PEAD returns. Instead, the relationship may be a result of the presence of LTG forecasts capturing some unobservable firm characteristics beyond those identified in prior studies.
Originality/value
This study contributes to the PEAD literature by identifying a novel analyst-based predictor of the cross-sectional variation in PEAD returns.
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