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Article
Publication date: 26 March 2024

Jaspreet Kaur

This study aims to determine experimentally factors affecting the satisfaction of retail stock investors with various investor protection regulatory measures implemented by the…

Abstract

Purpose

This study aims to determine experimentally factors affecting the satisfaction of retail stock investors with various investor protection regulatory measures implemented by the Government of India and Securities and Exchange Board of India (SEBI). Also, an effort has been made to gauge the level of satisfaction of retail equities investors with the laws and guidelines developed by the Indian Government and SEBI for their invested funds.

Design/methodology/approach

To accomplish the study’s goals, a well-structured questionnaire was created with the help of a literature review, and copies of it were filled by Punjabi retail equities investors with the aid of stockbrokers, i.e. intermediaries. Amritsar, Jalandhar, Ludhiana and Mohali-area intermediaries were chosen using a random selection procedure. Xerox copies of the questionnaire were given to the intermediaries, who were then asked to collect responses from their clients. Some intermediaries requested the researcher to sit in their offices to collect responses from their clients. Only 373 questionnaires out of 1,000 questionnaires that were provided had been received back. Only 328 copies were correctly filled by the equity investors. To conduct the analysis, 328 copies, which were fully completed, were used as data. The appropriate approaches, such as descriptives, factor analysis and ordinal regression analysis, were used to study the data.

Findings

With the aid of factor analysis, four factors have been identified that influence investors’ satisfaction with various investor protection regulatory measures implemented by government and SEBI regulations, including regulations addressing primary and secondary market dealings, rules for investor awareness and protection, rules to prevent company malpractices and laws for corporate governance and investor protection. The impact of these four components on investor satisfaction has been investigated using ordinal regression analysis. The pseudo-R-square statistics for the ordinal regression model demonstrated the model’s capacity for the explanation. The findings suggested that a significant amount of the overall satisfaction score about the various investor protection measures implemented by the government/SEBI has been explained by the regression model.

Research limitations/implications

A study could be conducted to analyse the perspective of various stakeholders towards the disclosures made and norms followed by corporate houses. The current study may be expanded to cover the entire nation because it is only at the state level currently. It might be conceivable to examine how investments made in the retail capital market affect investors in rural areas. The influence of reforms on the functioning of stock markets could potentially be examined through another study. It could be possible to undertake a study on female investors’ knowledge about retail investment trends. The effect of digital stock trading could be examined in India. The effect of technological innovations on capital markets can be studied.

Practical implications

This research would be extremely useful to regulators in developing policies to protect retail equities investors. Investors are required to be safeguarded and protected to deal freely in the securities market, so they should be given more freedom in terms of investor protection measures. Stock exchanges should have the potential to bring about technological advancements in trading to protect investors from any kind of financial loss. Since the government has the power to create rules and regulations to strengthen investor protection. So, this research will be extremely useful to the government.

Social implications

This work has societal ramifications. Because when adequate rules and regulations are in place to safeguard investors, they will be able to invest freely. Companies will use capital wisely and profitably. Companies should undertake tasks towards corporate social responsibility out of profits because corporate houses are part and parcel of society only.

Originality/value

Many investors may lack the necessary expertise to make sound financial judgments. They might not be aware of the entire risk-reward profile of various investment options. However, they must know various investor protection measures taken by the Government of India & Securities and Exchange Board of India (SEBI) to safeguard their interests. Investors must be well-informed on the precautions to take while dealing with market intermediaries, as well as in the stock market.

Details

International Journal of Law and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1754-243X

Keywords

Article
Publication date: 13 July 2023

Anita Katulić

The research aims to establish the predictors of the acceptance of technical and organizational measures for the protection of personal data to ensure information privacy in…

Abstract

Purpose

The research aims to establish the predictors of the acceptance of technical and organizational measures for the protection of personal data to ensure information privacy in Croatian libraries, starting from the constructs of the APCO Macro Model.

Design/methodology/approach

Two data collection methods were used: the online survey questionnaire method and the analysis of the websites of independent libraries in the Republic of Croatia.

Findings

The results show that the acceptance of measures for personal data protection by a library manager is mostly influenced by perceived knowledge, while culture and trust have a positive correlation of moderate strength. Awareness has a low positive correlation, and privacy experience is not statistically related to the acceptance of measures. There is no statistically significant difference in the acceptance of measures for the protection of personal data concerning age and work experience in the profession. There is a statistically significant correlation between compliance with the principle of transparency and the size of the library.

Originality/value

The study is valuable as it examined the characteristics of the culture of information privacy in libraries and determined the existence and impact of factors that influence ensuring the information privacy of users in Croatian libraries.

Article
Publication date: 14 September 2023

Muhammad Jawad Haider, Maqsood Ahmad and Qiang Wu

This study examines the influence of investor protection on stock price crash risk (SPCR) in Asian economies.

Abstract

Purpose

This study examines the influence of investor protection on stock price crash risk (SPCR) in Asian economies.

Design/methodology/approach

This study used yearly data from 432 nonfinancial companies publicly listed firms in six countries (i.e., China, India, Pakistan, Hong Kong, Japan and Singapore) from 2007 to 2020 to investigate the relationship between investor protection and the risk of stock price crashes. The hypothesis was tested using a generalized least square panel regression.

Findings

The results suggest that investor protection significantly affects SPCR in Asian economies. Furthermore, the findings show that the stocks of firms whose investors received the best protection were less prone to crash in developed Asian economies. However, in developing Asian economies, the stocks of firms whose investors received the best protection were more prone to crashes.

Practical implications

It provides awareness and understanding of how the level of investor protection affects SPCR, which could be useful for decision-makers and professionals across a spectrum of financial and non-financial institutions, such as portfolio managers and traders in commercial banks, investment banks and mutual funds. This knowledge enables informed decision-making and the formulation of effective policies to manage stock market volatility.

Originality/value

This study appears to be the first of its kind to focus on the link between investor protection and SPCR within the specific context of developed and developing Asian economies.

Details

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

Keywords

Article
Publication date: 13 October 2023

João Silva, Lígia Febra and Magali Costa

This study aims to advance knowledge on the direct impact of the investor’s protection level on the stock market volatility, that is, whether investor’s protection is an important…

Abstract

Purpose

This study aims to advance knowledge on the direct impact of the investor’s protection level on the stock market volatility, that is, whether investor’s protection is an important stock market volatility determinant.

Design/methodology/approach

A panel data was estimated using a sample of 48 countries, from 2006 to 2018, totalizing 31,808 observations. To measure stock market volatility and the investor protection level, a generalized autoregressive conditional heteroskedasticity model and the World Bank Doing Business investor protection index were used, respectively.

Findings

The results evidence that the protection of investors’ rights reduces the stock market volatility. This result indicates that a high level of investor protection, which is the result of a better quality of laws and policies in place that protect investor’s rights, promotes the country as a “safe haven.”

Practical implications

The relationship that the authors intend to analyze becomes important, given that investor protection will give outsiders guarantees on the materialization of their investments. This study contributes important knowledge for investors and for the establishment of government policies as a way of attracting investment.

Originality/value

Although there have been a few studies addressing this relationship, to the knowledge, none of them directly analyses the influence of investor protection on the stock market volatility.

Details

Review of Accounting and Finance, vol. 23 no. 1
Type: Research Article
ISSN: 1475-7702

Keywords

Article
Publication date: 27 September 2021

Harlida Abdul Wahab, Asmar Abdul Rahim and Nor Anita Abdullah

This paper aims to study the elements of social protection, namely, the labour market policy (working conditions), social insurance and social assistance from the law and policy…

Abstract

Purpose

This paper aims to study the elements of social protection, namely, the labour market policy (working conditions), social insurance and social assistance from the law and policy standpoints to safeguard the rights and welfare of the frontline health-care workers (HCWs).

Design/methodology/approach

This study applies both doctrinal and non-doctrinal research methods with the legal and authoritative approaches by integrating the three elements of social protections, which are working conditions, insurance protection and social assistance for the protection of HCWs.

Findings

A pragmatic approach to the social protection system by integrating these elements can safeguard the rights and welfare of the frontline HCWs amid the pandemic. This approach should be made effective for the sustainability of the HCW and health industry in Malaysia.

Practical implications

This paper highlights the significance of initiating and empowering ad hoc approaches through the social protection system for the practical and effective protection of frontline HCWs who are the backbone of the nation, in the event of pandemic COVID-19. These practical needs and approaches are pivotal in response to HCWs demands in workplace.

Originality/value

While social protection commonly aims to address disadvantaged groups and to combat poverty, this research adopts the social protection approach with the aims to safeguard the rights and welfare of frontline HCWs amid the COVID-19 pandemic.

Details

International Journal of Human Rights in Healthcare, vol. 16 no. 3
Type: Research Article
ISSN: 2056-4902

Keywords

Open Access
Article
Publication date: 5 September 2023

Päivi Mäntyneva and Heikki Hiilamo

Employment-related measures play a significant part in preventive and mitigative social policies. The importance of these actions is especially emphasised in times of crisis. This…

Abstract

Purpose

Employment-related measures play a significant part in preventive and mitigative social policies. The importance of these actions is especially emphasised in times of crisis. This paper provides empirical insights into employment-related measures implemented in a sample of OECD countries as a response to the COVID-19 crisis in 2020. Furthermore, it addresses the continuity of the measures by July 2022.

Design/methodology/approach

The research applies and further develops a capability approach in the COVID-19 context to provide a theoretically informed empirical understanding of the implemented employment related measures.

Findings

The results indicate that countries expanded the coverage of previous preventive and mitigative employment measures horizontally and vertically while also introducing new schemes to protect workers. The main conclusions suggest that most employment-related measures (65.5%) were preventive aiming at saving jobs and broadening peoples capabilities with bridging measures during the crisis. The employment measures served first as an emergency aid. However, most measures were recalibrated and changed incrementally toward 2022.

Research limitations/implications

The data consisted major employment-related measures and changes in social policies the studied countries. The authors focussed the examination on governmental-level measures. Thus, sub-national or sector-specific responses, for example tripartite agreements in certain employment sectors or social transfers in certain areas, were excluded.

Social implications

The way in which welfare states reacted to employment problems during the COVID-19 pandemic may have an impact on how governments approach social policies in the future. The capability approach exhibits a pronounced strength by facilitating the establishment of sustainable trajectories for social policy and welfare services.

Originality/value

The capability approach embracing the preactive and proactive role of social policies lends a unique perspective on public policies.

Details

International Journal of Sociology and Social Policy, vol. 43 no. 13/14
Type: Research Article
ISSN: 0144-333X

Keywords

Article
Publication date: 24 October 2023

Mohammad A. Hassanain and Zayed A. Albugami

Community centers play a socio-economic and urban role of combining different communal necessities, that serve inhabitants, at different neighborhoods in cities. Their role…

Abstract

Purpose

Community centers play a socio-economic and urban role of combining different communal necessities, that serve inhabitants, at different neighborhoods in cities. Their role emerged in importance as being a hub for improving and customizing quality of life experiences of the public. This research presents a code-based risk assessment tool for evaluating fire safety measures that can be adapted in the context of community centers. It also provides an exemplary case study to demonstrate its application.

Design/methodology/approach

The study identified the factors that render community centers as a high-risk type of facilities in fire events. Various fire codes and standards were reviewed to describe the relevant fire safety measures. A code-based fire risk assessment tool was developed and implemented, through a case study. A set of recommendations were developed to improve the fire safety conditions of the case study facility.

Findings

Several violations to fire safety were identified in the case study building. The findings led to identifying a set of recommendations to improve its fire safety conditions.

Practical implications

This research introduced a systematic approach to raise awareness about fire incidences and consequences in community centers, and provides facilities managers with a tool, to assess compliance based on international fire code requirements.

Originality/value

In fire events, community centers are considered as high-risk facilities that may lead to significant losses of human lives and damages to assets. It is significant to study the causes of fire, for ensuring effective prevention and safe operations.

Details

International Journal of Emergency Services, vol. 13 no. 1
Type: Research Article
ISSN: 2047-0894

Keywords

Article
Publication date: 16 August 2022

Emmanuele Pavolini, Giovanna Fullin and Gemma Scalise

This article contributes to the debate on how social policies and labour market regulation have been used to limit the socio-economic consequences of the pandemic by focusing on…

Abstract

Purpose

This article contributes to the debate on how social policies and labour market regulation have been used to limit the socio-economic consequences of the pandemic by focusing on one specific economic segment of European labour markets: private consumption services, such as trade, tourism, catering and other support services.

Design/methodology/approach

The analysis combines mixed methods and a variety of sources. First, we built a set of indicators from the EU-LFS microdata for 2019 and the 2018 Eurostat “Structure of earnings survey” and performed a cluster analysis (k-means) on the dimensions and indicators considered. Second, we elaborated EU-LFS data covering 2019 and 2020 (by quarter) and OECD 2020 data, and finally we traced Covid-related policy reforms for the period March 2020–December 2021 and analysed documents and information collected in different policy repositories.

Findings

The paper shows the relevance and characteristics of private consumption services in different countries, demonstrating that so-called labour market “outsiders” are highly represented in this sector and illustrates the policies adopted to respond to the pandemic in different European countries. The paper asks whether this emergency has been a window of opportunity to redefine regulation in this sector, making it more inclusive. It demonstrates, however, that the common approach in Europe has been dominated by temporary, short-term and one-off measures, which do not represent major changes to the social security schemes that were in place before the pandemic.

Originality/value

This article builds on the literature on labour market dualization, but approaches the concept from a different perspective – one not centred on the nature of employment relations (stable/unstable) but on economic sectors/branches. This article does not, therefore, discuss in general terms what happened to labour market outsiders during the pandemic, but rather focus attention on a specific group of workers who are highly exposed to risks stemming from dualization: those employed in the private consumption services. The economic sector perspective is an integrative way of framing dualization which is still under-researched.

Details

International Journal of Sociology and Social Policy, vol. 43 no. 5/6
Type: Research Article
ISSN: 0144-333X

Keywords

Article
Publication date: 18 July 2023

Zehui Bu, Jicai Liu and Xiaoxue Zhang

Subway systems are highly susceptible to external disturbances from emergencies, triggering a series of consequences such as the paralysis of the internal network transportation…

Abstract

Purpose

Subway systems are highly susceptible to external disturbances from emergencies, triggering a series of consequences such as the paralysis of the internal network transportation functions, causing significant economic and safety losses to cities. Therefore, it is necessary to analyze the factors affecting the resilience of the subway system to reduce the impact of disaster incidents.

Design/methodology/approach

Using the interval type-2 fuzzy linguistic term set and the K-medoids clustering algorithm, this paper improves the Decision-Making Trial and Evaluation Laboratory (DEMATEL) method to construct a subway resilience factor analysis model for emergencies. Through comparative analysis, this study confirms the superior performance of the proposed approach in enhancing the precision of the DEMATEL method.

Findings

The results indicate that the operation and management level of emergency command organizations is the key resilience factors of subway operations in China. Furthermore, based on real case analyses, the corresponding suggestions and measures are put forward to improve the overall operation resilience level of the subway.

Originality/value

This paper identifies four emergency scenarios and 15 resilience factors affecting subway operations through literature review and expert consultation. The improved fuzzy DEMATEL method is applied to explore the levels of influence and causal mechanisms among the resilience factors of the subway system under the four emergency scenarios.

Details

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

Keywords

Article
Publication date: 2 February 2024

Jinhua Xu, Feisan Ye and Xiaoxia Li

This paper aims to empirically investigate the impact of the carbon intensity constraint policy (CICP) on green innovation.

Abstract

Purpose

This paper aims to empirically investigate the impact of the carbon intensity constraint policy (CICP) on green innovation.

Design/methodology/approach

This study takes the implementation of the CICP as a quasi-natural experiment and uses a quasi–difference-in-difference method to investigate the impact of the CICP on firm green innovation from a microeconomic perspective.

Findings

The CICP significantly limits the quality of firms’ green innovation. Among the range of green patents, the CICP distorts only patents related to CO2 emissions. The inhibitory effect is more pronounced in non-state-owned enterprises and heavily polluting firms. R&D investment and green investor are identified as the main mechanism.

Practical implications

These findings provide evidence for the influence of the CICP on firm green innovation, which can guide policymakers in China and other emerging economies that prioritize carbon intensity constraint targets and the improvement of relevant auxiliary measures.

Social implications

Governments and firms should have a comprehensive understanding of environmental policies and corporate behavior and need to mitigate the negative impact through a combination of measures.

Originality/value

This study contributes to the literature by providing additional empirical evidence regarding the two opposing sides of the ongoing debate on the positive or negative effects of CICP. It also provides new evidence on the policy effect of the CICP on firm green innovation, together with its mechanisms and heterogeneous influences.

Details

Sustainability Accounting, Management and Policy Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-8021

Keywords

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