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Article
Publication date: 9 January 2024

Benjamin Kwakye and Tze-Haw Chan

The primary aim of this paper is to concurrently use the data types to enhance econometric analysis in the housing market in developing countries, particularly Namibia.

Abstract

Purpose

The primary aim of this paper is to concurrently use the data types to enhance econometric analysis in the housing market in developing countries, particularly Namibia.

Design/methodology/approach

Scholarly discussions on econometric analysis in the housing market in sub-Saharan Africa suggest that the inadequacy of time series data has impeded studies of such nature in the region. Hence, this paper aims to comparatively analyse the impact of economic fundamentals on house prices in Namibia using real and interpolated data from 1990 to 2021 supported by the ARDL model.

Findings

It was discovered that in all the three types of data house prices were affected by fundamentals except real GDP in the long term. It was also noted that there were not much significant variations between the real data and the interpolated data frequencies. However, the results of the annual data and the semi-annual interpolated data were more analogously comparable to the quarterly interpolated data

Practical implications

It is suggested that the adoption of interpolated data frequency type should be based on the statistical significance of the result. In addition, the need to monitor the nexus of the housing market and fundamentals is necessary for stable and sustainable housing market for enhanced policy direction and prudent property investment decision.

Originality/value

The study pioneer to concurrently use the data types to enhance econometric analysis in the housing market in developing countries.

Details

International Journal of Housing Markets and Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 8 December 2023

Augusta Ferreira

The aim of this paper is to investigate whether Mayors in Portugal engage in earnings management close to zero with the motivation of re-election.

Abstract

Purpose

The aim of this paper is to investigate whether Mayors in Portugal engage in earnings management close to zero with the motivation of re-election.

Design/methodology/approach

The data used in this study were annual financial information from Portuguese municipalities from 2005 to 2016, as well as data on elections and Mayor re-elections involving three political cycles. The methodologies employed were quantitative, including graphical and panel data regressions.

Findings

The results indicate that municipalities used discretionary accruals to engage in earnings management to report net earnings close to zero, and re-election seems to be a motivation for earnings management behaviour. Furthermore, the results suggest that municipalities in which the Mayor is re-elected are less likely to report positive net earnings close to zero.

Originality/value

This paper makes a valuable contribution to the literature on earnings management in municipalities. At the theoretical level, it makes it possible to identify whether re-election is a motivation for earnings management and, in this sense, to identify patterns of behaviour by managers. On a practical level, the knowledge of a manager's behaviour patterns will help to anticipate his or her future behaviour and, consequently, may prevent inefficiencies.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1096-3367

Keywords

Article
Publication date: 12 December 2023

Mario Glowik, Waheed Akbar Bhatti and Agnieszka Chwialkowska

Against the background of sustainable finance, this study aims to address whether global asset management firms started transforming toward more environmentally friendly…

Abstract

Purpose

Against the background of sustainable finance, this study aims to address whether global asset management firms started transforming toward more environmentally friendly investment policies according to the Agenda for Sustainable Development launched by the United Nations General Assembly in 2015.

Design/methodology/approach

The authors apply qualitative, explorative research methods through the development of the case study of BlackRock, Inc. (USA). Addressing sustainable finance, the authors compare the opposite to the editorial page (op-eds) communication strategy of BlackRock against real life for the period from 2015 until today.

Findings

The op-eds communication strategy by BlackRock is multi-faceted targeting to develop a leading sustainable reputation supported by fine-grained relationships to business and policy makers. This study empirically proves that there is a discrepancy between BlackRock’s op-eds communication contends concerning sustainable finance and the reality. Among others this study found that BlackRock still invests in fossils and increasingly launches passively managed funds with limited transparency standards in terms of sustainable finance.

Research limitations/implications

This study contributes to the corporate social responsibility literature focusing on fossil energy and sustainable finance. As BlackRock did not reply to the authors’ requests for conducting interviews, the authors rely on a broad range of secondary sources including material provided by non-governmental organizations. This study proposes that research should be amplified by further empirical studies among various sustainable finance stakeholders based on the research propositions the authors have developed as a result of this study.

Practical implications

This research provides empirical evidence for business executives and policy decision-makers involved in the energy industry, corporate ethics and global financial asset management.

Social implications

This study provides insights toward sustainable finance policies of BlackRock with corresponding outcomes related to global climate change and its impact on societies.

Originality/value

This study delivers empirical evidence on the energy transformation from fossils toward renewables against the background of sustainable finance strategies of large asset management enterprises such as BlackRock which is rare to find in the literature.

Details

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

Keywords

Article
Publication date: 13 December 2023

Megha Jaiwani and Santosh Gopalkrishnan

The banking industry faces increasing scrutiny from stakeholders regarding its environmental and social impacts, given its crucial role in fostering economic growth. Banks have…

Abstract

Purpose

The banking industry faces increasing scrutiny from stakeholders regarding its environmental and social impacts, given its crucial role in fostering economic growth. Banks have been encouraged to adopt environmental, social and governance (ESG) practices to mitigate risks and safeguard their reputation. However, the effectiveness of ESG sensitivity within the banking industry is contingent upon ownership and structural factors. The extent to which banks can integrate ESG considerations into their operations and decision-making processes may vary based on their ownership structures. Therefore, this study aims to examine if the impact of ESG on the performance of Indian banks varies between private and public sector banks.

Design/methodology/approach

The study employs six years of panel data from two separate samples of 12 private sector banks and 10 public sector banks in India. It utilises fixed and random effect estimation techniques with robust standard errors to derive accurate and reliable econometric results.

Findings

The main findings of this study reveal intriguing insights into the relationship between ESG factors and bank performance, considering the influence of ownership structure. For private sector banks, the ESG composite score, particularly the social dimension, negatively impacts financial performance. However, there is a contrasting positive effect on efficiency. In contrast, public sector banks demonstrate a positive and significant association between the environmental score and return on equity and non-performing assets.

Practical implications

The findings highlight the need for tailored strategies that align with ownership structure to achieve sustainable financial and societal outcomes in the banking industry. Furthermore, it emphasises the need for private-sector banks to streamline their ESG initiatives, especially in the social dimension, to mitigate negative impacts on their financial performance.

Originality/value

This study introduces a novel dimension by addressing the “one size fits all” bias in prior research that overlooked bank ownership differences when examining the impact of ESG factors on bank performance.

Details

Benchmarking: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-5771

Keywords

Article
Publication date: 17 October 2023

Megha Jaiwani and Santosh Gopalkrishnan

The study examines whether the Basel-III regulations impact the financial performance, operational efficiency and resilience of Indian banks. Further, the study tests whether…

Abstract

Purpose

The study examines whether the Basel-III regulations impact the financial performance, operational efficiency and resilience of Indian banks. Further, the study tests whether there is a variance in the impact between private- and public-sector banks.

Design/methodology/approach

The study uses panel data regression on data from 16 private- and 12 public-sector banks from the years 2016–2022. Random-effect estimation is used, and robust standard errors are calculated.

Findings

The main findings indicate that the Basel-III regulations related to capital and leverage boost public-sector banks' financial performance and resilience. However, a similar impact is not detected in the case of private-sector banks.

Practical implications

The findings signify that the Basel-III framework does not address the differences between public and private-sector banks. Therefore, the policy implications are of practical importance and indicate that Basel-III regulations should not be considered a one-size-fits-all type of bank. Instead, policymakers should consider the structural differences between private and public-sector banks concerning Basel-III regulations.

Originality/value

The study addresses a significant limitation of the Basel-III regulations, which, in their current state, somehow fail to account for the differences between the public- and private-sector banks.

Details

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

Keywords

Article
Publication date: 5 December 2023

Ane Haugdal, Frode Kjærland, Levi Gårseth-Nesbakk and Are Oust

This study explores whether hard regulatory control decreases the level of earnings management in local governments. The implementation of a new regulatory approach by Norwegian…

Abstract

Purpose

This study explores whether hard regulatory control decreases the level of earnings management in local governments. The implementation of a new regulatory approach by Norwegian authorities provides the opportunity for an empirical study.

Design/methodology/approach

The authors adopt a two-stage strategy to investigate the existence of earnings management, using the Jones (1991) and modified Jones (Dechow et al., 1995) models to construct a random-effects model.

Findings

The authors test the hypothesis that, given decentralisation of control, there will be an increase in opportunistic financial reporting. This study's findings suggest that this is not the case, thereby indicating that a soft control regime does not diminish discipline in municipalities.

Practical implications

This study has practical implications for policymaking in the public sector. Its findings suggest that municipalities do not engage in more earnings management under a soft regulatory regime. Hence, other authorities should consider adopting a soft regulatory approach to controlling local governments and their financial reporting systems.

Originality/value

This study contributes to a growing body of literature regarding earnings management by local governments. The authors investigate a hypothesis previously untested in the literature by comparing the degree of earnings management under different regulatory control regimes.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1096-3367

Keywords

Article
Publication date: 14 August 2023

Gerasimos Rompotis and Dimitris Balios

This paper tries to shed light on the international progress regarding the adoption of International Public Sector Accounting Standards (IPSAS), to accentuate the benefits…

Abstract

Purpose

This paper tries to shed light on the international progress regarding the adoption of International Public Sector Accounting Standards (IPSAS), to accentuate the benefits resulting from the application of IPSAS, and to highlight the main differences between IPSAS and IFRS.

Design/methodology/approach

A comprehensive literature review is conducted which focuses on issues concerning the factors that induce the adoption of IPSAS, the obstacles that must be overcome, the degree of IPSAS’ proliferation worldwide, the repercussions from adopting IPSAS, the benefits of IPSAS, and the differences between IPSAS and IFRS. The selection process of the cited articles focuses on journals with high rankings in the ABS list.

Findings

It is accentuated that IPSAS carry significant benefits regarding the improved quality of the financial information reported by the public sector, the enhancement of transparency and accountability, the upgrading of the decision-making process and the restored trust in public finances. However, there is more work that needs to be done toward the global proliferation of IPSAS.

Practical implications

This study provides insights regarding the implementation process of IPSAS, which should be useful to all the parties engaged in the reform of the public administration, such as national governments, local or international regulators, accounting standard setters and institutional organizations.

Originality/value

The current study clarifies whether the public sector should move from using the business focused IFRS, as it is frequently the case, to the adoption of IPSAS. In addition, this study comprehensive literature review can be used by academics and researchers as a basis for further research on the issue. More importantly, policymakers and other officials who need to make informed decisions about financial reporting issues at the government level and the public sector in general can benefit from this study.

Details

EuroMed Journal of Business, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1450-2194

Keywords

Article
Publication date: 8 February 2023

Sy Tien Do, Viet Thanh Nguyen and Denver Banlasan

This study aims to use social media data mining to revitalize and support existing urban infrastructure monitoring strategies by extracting valuable insights from public opinion…

102

Abstract

Purpose

This study aims to use social media data mining to revitalize and support existing urban infrastructure monitoring strategies by extracting valuable insights from public opinion, as current strategies struggle with issues such as adaptability to changing conditions, public engagement and cost effectiveness.

Design/methodology/approach

Twitter messages or “Tweets” about public infrastructure in the Philippines were gathered and analyzed to discover reoccurring concerns in public infrastructure, emerging topics in public debates and the people’s general view of infrastructure services.

Findings

This study proposes a topic model for extracting dominating subjects from aggregated social media data, as well as a sentiment analysis model for determining public opinion sentiment toward various urban infrastructure components.

Originality/value

The findings of this study highlight the potential of social media data mining to go beyond the limitations of traditional data collection techniques, as well as the importance of public opinion as a key driver for more user-involved infrastructure management and as an important social aspect that can be used to support planning and response strategies in routine maintenance, preservation and improvement of urban infrastructure systems.

Details

Construction Innovation , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1471-4175

Keywords

Article
Publication date: 27 July 2023

Mianzhi Yang, Qing Hui, Qingru Yang, Mengwei Fan and Xin Li

China has recently introduced a new audit law that aims to increase the scope of audit supervision and raise the standards for preventing risks in auditing national public…

Abstract

Purpose

China has recently introduced a new audit law that aims to increase the scope of audit supervision and raise the standards for preventing risks in auditing national public projects. This paper presents a systematic research study on the causes of audit risks in national public projects and discusses the process by which these causes contribute to the emergence of such risks. Furthermore, the paper investigates the core risk sources in various types of national construction project audit. This paper aims to provide theoretical support for auditors of national construction projects in risk avoidance when conducting audits.

Design/methodology/approach

In this study, the authors carefully selected five national public audit projects from China and performed a comprehensive analysis of 85 relevant audit documentation. The textual analysis was conducted using Nvivo12 software, and the grounded theory approach was adopted for generalization purposes.

Findings

Based on the research results, the findings suggest that there are five key causes contributing to the audit risk of national construction projects: professional competence, risk awareness, management capacity, level of attention and deliberate fraud. The most critical factor identified is management capability, with 59.93% of the data supporting this view. This conclusion was based on an analysis of state-owned enterprises, administrative organs and public institutions. Building upon this, a framework titled “the mechanism of audit risk factors with management capability as the core” was constructed.

Originality/value

This paper employs qualitative analysis methods to examine national construction projects in China, contributing new literature to the theoretical study of audit risk management. The article also provides practical recommendations for auditors on how to mitigate audit risks and improve the quality of audit services in national project governance.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 19 February 2024

Ozan Okudan, Gökhan Demirdöğen and Zeynep Işık

The purpose of this study is to develop a decision-support framework that can be used by decision-makers to suspend public infrastructure projects. Additionally, the study also…

Abstract

Purpose

The purpose of this study is to develop a decision-support framework that can be used by decision-makers to suspend public infrastructure projects. Additionally, the study also investigates how to select the most convenient infrastructure project for suspension.

Design/methodology/approach

The proposed framework includes an extensive set of factors and a novel comparison mechanism that can reveal the most convenient infrastructure project to be suspended. A comprehensible literature review and focus group discussion (FGD) sessions were conducted to identify factors that should be considered for suspension. Then, the neutrosophic analytic hierarchy process (N-AHP) method was used to determine the relative importance of the factors. Finally, the proposed comparison mechanism was demonstrated through a hypothetical case study and Technique for order of preference by similarity to ideal solution (TOPSIS) analysis.

Findings

Results showed that suspension decisions cannot be made merely based on “financial” factors. Instead, the other aspects, namely “Technical and managerial” and “Social and Environmental”, should also be taken into consideration. Second, factors related to the initial investment, cost of refinancing, cash flow, permits and approvals, insufficiency of bidders, degradation of the components, reputation, impact on stakeholders and criticality of the infrastructure were particularly elaborated as the most significant, needing the utmost attention of the decision-makers. Lastly, the results demonstrated that the proposed comparison mechanism has considerable potential to identify the most convenient infrastructure project for suspension.

Originality/value

Public infrastructure projects are often under pressure due to the inflationary state and economic stagnation of countries after major crises. The suspension decision for infrastructure projects necessitates comprehensible assessments to consider all consequences. Studies have widely investigated the contractual and legal aspects of project suspension in light of existing literature. However, little effort has been devoted to identifying the factors that decision-makers should consider before suspending a particular infrastructure project. Furthermore, existing literature does not investigate how to select the most convenient infrastructure project for suspension either. Thus, by developing a specific suspension framework for infrastructure projects by considering various factors, this study is the earliest attempt to examine the contract suspension mechanism of public infrastructure projects. In this respect, the study significantly contributes to the theory of contract management domain and has important managerial implications.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

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