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In this paper we examine the validity of the J-curve hypothesis in four Southeast Asian economies (Indonesia, Malaysia, the Philippines and Thailand) over the 1980–2017 period.
Abstract
Purpose
In this paper we examine the validity of the J-curve hypothesis in four Southeast Asian economies (Indonesia, Malaysia, the Philippines and Thailand) over the 1980–2017 period.
Design/methodology/approach
We employ the linear autoregressive distributed lags (ARDL) model that captures the dynamic relationships between the variables and additionally use the nonlinear ARDL model that considers the asymmetric effects of the real exchange rate changes.
Findings
The estimated models were diagnostically sound, and the variables were found to be cointegrated. However, with the exception of Malaysia, the short- and long-run relationships did not attest to the presence of the J-curve effect. The trade flows were affected asymmetrically in Malaysia and the Philippines, suggesting the appropriateness of nonlinear ARDL in these countries.
Originality/value
The previous research tended to examine the effects of the real exchange rate changes on the agricultural trade balance and specifically the J-curve effect (deterioration of the trade balance followed by its improvement) in the developed economies and rarely in the developing ones. In this paper, we address this omission.
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A stylized fact in finance literature is the belief in positive relationship between ex ante return and risk. Hence, a rational investor, by utility preference axiom can only…
Abstract
Purpose
A stylized fact in finance literature is the belief in positive relationship between ex ante return and risk. Hence, a rational investor, by utility preference axiom can only consider committing fund in asset which promises commensurate higher return for higher risk. Questions have been asked as to whether this holds true across securities, sectors and markets. Empirical evidence appears less convincing, especially in developing markets. Accordingly, the author investigates the nature of reward for taking risk in the Nigerian Capital Market within the context of individual assets and markets.
Design/methodology/approach
The author employed ex post design to collect weekly stock prices of firms listed on the Premium Board of Nigerian Stock Exchange for period 2014–2022 to attempt to answer research questions. Data were analyzed using a unique M Vec TGarch-in-Mean model considered to be robust in handling many assets, and hence portfolio management.
Findings
The study found that idea of risk-expected return trade-off is perhaps more general than as depicted by traditional finance literature. The regression revealed that conditional variance and covariance risks reveal minimal or no differences in sign and sizes of coefficients. However, standard errors were also found to be large suggesting somewhat inconclusive evidence of existence of defined incentive structure for taking additional risk in the market.
Originality/value
In terms of choice of methodology and outcomes, this research adds substantial value to body of knowledge. The adapted multivariate model used in this paper is a rare approach especially for management of portfolios in developing markets. Remarkably, the research found empirical evidence that positive risk-expected return trade-off, as known in mainstream literature, is not supported especially using a typical developing country data.
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Md Badrul Alam, Muhammad Tahir and Norulazidah Omar Ali
This paper makes a novel attempt to estimate the potential impact of credit risk on foreign direct investment (FDI hereafter), thereby focusing on a completely unexplored area in…
Abstract
Purpose
This paper makes a novel attempt to estimate the potential impact of credit risk on foreign direct investment (FDI hereafter), thereby focusing on a completely unexplored area in the existing empirical literature.
Design/methodology/approach
To provide a comprehensive understanding of the relationship between credit risk and FDI inflows, the study incorporates all the eight-member economies of the South Asian Association of Regional Cooperation (SAARC hereafter) and analyzes a panel data set, over the period 2011 to 2019, extracted from the World Development Indicators, using the suitable econometric techniques for the efficient estimations of the specified models.
Findings
The results indicate a negative and statistically significant relationship between the credit risk of the banking sectors and FDI inflows. Similarly, market size and inflation rate appear to be the two other main factors behind the increasing FDI inflows in the SAARC member economies. Interestingly, the size of the market became irrelevant in attracting FDI inflows when the Indian economy is excluded from the sample due to its higher economic weight. On the other hand, FDI inflows are not dependent on the level of trade openness, with most of the specifications showing either an insignificant or negative coefficient of the variable.
Practical implications
The obtained results are unique and robust to alternative methodologies, and hence, the SAARC economies could consider them as the critical inputs in formulating the appropriate policies on FDI inflows.
Originality/value
The findings are unique and original. The authors have established a relationship between credit risk and FDI for the first time in the SAARC context.
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Thomas Kalischko and René Riedl
The potential applications of information and communication technologies in the workplace are wide-ranging and, especially since the COVID-19 pandemic, have increasingly found…
Abstract
Purpose
The potential applications of information and communication technologies in the workplace are wide-ranging and, especially since the COVID-19 pandemic, have increasingly found their way into the field of electronic performance monitoring (EPM) of employees. This study aims to examine the influence of EPM on individual performance considering the aspects of privacy invasion, organizational trust and individual stress within an organization. Thus, important insights are generated for academia as well as business.
Design/methodology/approach
A theoretical framework was developed which conceptualizes perceived EPM as independent variable and individual performance as dependent variable. Moreover, the framework conceptualizes three mediator variables (privacy invasion, organizational trust and individual stress). Based on a large-scale survey (N = 1,119), nine hypotheses were tested that were derived from the developed framework.
Findings
The results indicate that perception of EPM significantly increases privacy invasion, reduces organizational trust, increases individual stress and ultimately reduces individual performance. Moreover, it was found that privacy invasion reduces organizational trust and that this lowered trust increases individual stress. Altogether, these findings suggest that the use of EPM by employers may be associated with significant negative consequences.
Originality/value
This research enriches the literature on digital transformation, as well as human–machine interaction, by adopting a multidimensional theoretical and empirical perspective regarding EPM in the workplace context, in which the influence of EPM perceptions on individual performance is examined under the influence of different aspects (privacy invasion, organizational trust and individual stress) not currently considered in this combination in the literature.
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Lilian M. Hoogenboom, Maria T.M. Dijkstra and Bianca Beersma
Scholars and practitioners alike wish to understand what makes workplace conflict beneficial or injurious to, for example, performance and satisfaction. The authors focus on…
Abstract
Purpose
Scholars and practitioners alike wish to understand what makes workplace conflict beneficial or injurious to, for example, performance and satisfaction. The authors focus on parties’ personal experience of the conflict, which is complementary to studying conflict issues (i.e. task- or relationship-related conflict). Although many authors discuss the personal experience of conflict, which the authors will refer to as conflict personalization, different definitions are used, leading to conceptual vagueness. Therefore, the purpose of this paper is to develop an integrative definition of the concept of conflict personalization.
Design/methodology/approach
The authors conducted a systematic literature review to collect definitions and conceptualizations from 41 publications. The subsequent thematic analysis revealed four building blocks that were used to develop an integrative definition of conflict personalization.
Findings
The authors developed the following definition: Conflict personalization is the negative affective as well as cognitive reaction to the self being threatened and/or in danger as a result of a social interaction about perceived incompatibilities.
Practical implications
The integrative definition of this study enables the development of a measurement instrument to assess personalization during workplace conflict, paving the way for developing effective research-based interventions.
Originality/value
Conceptual vagueness hampers theoretical development, empirical research and the development of effective interventions. Although the importance of conflict personalization is mentioned within the field of workplace conflict, it has not been empirically studied yet. This paper can serve as the basis for future research in which conflict issue and personal experience are separated.
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The purpose of this paper is to determine if there is a link between corporate shareholder value creation and economic growth. The first objective of this paper is to determine…
Abstract
Purpose
The purpose of this paper is to determine if there is a link between corporate shareholder value creation and economic growth. The first objective of this paper is to determine which specific shareholder value measurement best explains shareholder value creation for a particular industry. The next objective of the study is to establish, for each of nine different categories of firms examined, a set of value drivers that are unique and significant in expressing shareholder value for that particular category of firms. Lastly, the relationship between shareholder value creation and economic growth is tested.
Design/methodology/approach
To quantify and measure value creation, the paper investigates the various value creation measurements that are being applied. The next step is to ascertain whether various industries have different value creation measures that best explain value creation for the respective industries. Then, the value drivers of these specific value creation measures can be determined and their relationship with economic growth tested.
Findings
The results of this study indicate that each industry does have a specific shareholder value creation measurement that best explains shareholder value creation for that industry; for example, for five of the nine categories (industries) that were analyzed, market value added was found to be the best shareholder value creation measurement, but for capital-intensive firms and manufacturing firms, the Qratio is the best measure, while for the food and beverage industry, the market to book ratio was found to be a better measure of shareholder value creation than other measures tested. It was further found that an increase in corporate shareholder value creation is to the detriment of economic growth.
Originality/value
The contribution of the present study is its determination of a unique shareholder value creation measurement for particular industries. In addition, a specific set of variables per industry that create shareholder value is identified. Lastly, the important link between shareholder value creation and economic growth is exposed.
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Abstract
Purpose
This study investigates the relationships among digital transformation, technological innovation, industry–university–research collaborations and labor income share in manufacturing firms.
Design/methodology/approach
The relationships are tested using an empirical method, constructing regression models, by collecting 1,240 manufacturing firms and 9,029 items listed on the A-share market in China from 2013 to 2020.
Findings
The results indicate that digital transformation has a positive effect on manufacturing companies’ labor income share. Technological innovation can mediate the effect of digital transformation on labor income share. Industry–university–research cooperation can positively moderate the promotion effect of digital transformation on labor income share but cannot moderate the mediating effect of technological innovation. Heterogeneity analysis also found that firms without service-based transformation and nonstate-owned firms are better able to increase their labor income share through digital transformation.
Originality/value
This study provides a new path to increase the labor income share of enterprises to achieve common prosperity, which is important for manufacturing enterprises to better transform and upgrade to achieve high-quality development.
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Open access (OA) is often considered as particularly beneficial to researchers in the global south. However, research into awareness of and attitudes to OA has been largely…
Abstract
Open access (OA) is often considered as particularly beneficial to researchers in the global south. However, research into awareness of and attitudes to OA has been largely dominated by voices from the global north. A survey was conducted of 507 researchers from the developing world and connected to INASP's AuthorAID project to ascertain experiences and attitudes to OA publishing. The survey revealed problems for the researchers in gaining access to research literature in the first place. There was a very positive attitude to OA research and OA journals, but when selecting a journal in which to publish, OA was seen as a much less important criterion than factors relating to international reputation. Overall, a majority of respondents had published in an OA journal and most of these had paid an article processing charge. Knowledge and use of self-archiving via repositories varied, and only around 20% had deposited their research in an institutional repository. The study also examined attitudes to copyright, revealing most respondents had heard of Creative Commons licences and were positive about the sharing of research for educational use and dissemination, but there was unease about research being used for commercial purposes. Respondents revealed a surprisingly positive stance towards openly sharing research data, although many revealed that they would need further guidance on how to do so. The survey also revealed that the majority had received emails from so called “predatory” publishers and that a small minority had published in them.
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Rebecca Gilligan, Rachel Moran and Olivia McDermott
This study aims to utilise Six Sigma in an Irish-based red meat processor to reduce process variability and improve yields.
Abstract
Purpose
This study aims to utilise Six Sigma in an Irish-based red meat processor to reduce process variability and improve yields.
Design/methodology/approach
This is a case study within an Irish meat processor where the structured Define, Measure, Analyse, Improve and Control (DMAIC) methodology was utilised along with statistical analysis to highlight areas of the meat boning process to improve.
Findings
The project led to using Six Sigma to identify and measure areas of process variation. This resulted in eliminating over-trimming of meat cuts, improving process capabilities, increasing revenue and reducing meat wastage. In addition, key performance indicators and control charts, meat-cutting templates and smart cutting lasers were implemented.
Research limitations/implications
The study is one of Irish meat processors' first Six Sigma applications. The wider food and meat processing industries can leverage the learnings to understand, measure and minimise variation to enhance revenue.
Practical implications
Organisations can use this study to understand the benefits of adopting Six Sigma, particularly in the food industry and how measuring process variation can affect quality.
Originality/value
This is the first practical case study on Six sigma deployment in an Irish meat processor, and the study can be used to benchmark how Six Sigma tools can aid in understanding variation, thus benefiting key performance metrics.
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Maleeha Ashraf, Gabriella Cagliesi, Denise Hawkes and Maryam Rab
Driven to improve the quality of higher education as an engine of growth and socio-economic development within Pakistan for 20 years, the Higher Education Commission (HEC) in…
Abstract
Driven to improve the quality of higher education as an engine of growth and socio-economic development within Pakistan for 20 years, the Higher Education Commission (HEC) in Pakistan has focused on linking academics and professional services staff with their counterparts in various countries, including the UK, US, and Australia. In collaboration with the British Council, the PAK-UK initiative has been launched to offer deeper linkages between the academics and universities in the UK and Pakistan. This paper presents statistical analysis of data collected in a British Council project highlighting the gender inequalities of the current HEC strategy. The results suggest the potential for online opportunities to help close and amend this gender gap and improve higher education in Pakistan, and the PAK-UK initiative's role in contributing more broadly to the United Nations Sustainable Development Goals.
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