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Article
Publication date: 11 October 2021

Pham Dinh Long, Bui Quang Hien and Pham Thi Bich Ngoc

This study focuses on analyzing the relation between money supply, inflation and output in Vietnam and China.

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Abstract

Purpose

This study focuses on analyzing the relation between money supply, inflation and output in Vietnam and China.

Design/methodology/approach

Using the error correction model and the vector autoregression model (ECM and VAR) and the canonical cointegration regression (CCR), the study shows similar patterns of these variable relations between the two economies.

Findings

The study points out the difference in the estimated coefficients between the two countries with different economic scales. While inflation in Vietnam is strongly influenced by expected inflation and output growth, inflation in China is strongly influenced by money supply growth and output growth.

Originality/value

To the best of the authors’ knowledge, this is the first empirical and comparative research on the relation between money supply, inflation and output for Vietnam and China. The study demonstrates that the relationship between money supply, inflation and output is still true in case of transition economies.

Details

Asian Journal of Economics and Banking, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2615-9821

Keywords

Article
Publication date: 9 February 2024

Nhung Thi Nguyen, An Tuan Nguyen and Dinh Trung Nguyen

This paper aims to examine the effects of investor sentiment on the development of the real estate corporate bond market in Vietnam.

Abstract

Purpose

This paper aims to examine the effects of investor sentiment on the development of the real estate corporate bond market in Vietnam.

Design/methodology/approach

The research uses an autoregressive distributed lag (ARDL) model with quarterly data. Additionally, the study employs Google Trends search data (GVSI) related to topics such as “Real Estate” and “Corporate Bond” to construct a sentiment index.

Findings

The empirical outcomes reveal that real estate market sentiment improves the growth of the real estate corporate bond market, while stock market sentiment reduces it. Also, there is evidence of a long-run negative effect of corporate bond market sentiment on the total value of real estate bond issuance. Further empirical research evidences the short-term effect of sentiment and economic factors on corporate bond development in the real estate industry.

Research limitations/implications

Due to difficulties in collecting data, this paper has the limited sample of 54 valid quarterly observations. Moreover, the sentiment index based on Google search volume data only reflects the interest level of investors, not their attitudes.

Practical implications

These results yield important implications for policymakers in respect of strengthening the corporate bond market platform and maintaining stability in macroeconomic and monetary policies in order to promote efficient and sustainable market development.

Social implications

The study offers some suggestions for regulators and governments to improve the real estate corporate bond market.

Originality/value

This is the first quantitative study to examine the effect of sentiment factors on real estate corporate bond development in Vietnam.

Details

Review of Behavioral Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1940-5979

Keywords

Article
Publication date: 15 May 2023

Lin Jia, Ying Zhang and Chen Lin

Social interaction in comment sections has become a key factor for backers' decision making in crowdfunding platforms. However, current research on the two-way social interaction…

Abstract

Purpose

Social interaction in comment sections has become a key factor for backers' decision making in crowdfunding platforms. However, current research on the two-way social interaction in crowdfunding is insufficient, and there exist inconsistent conclusions. This study focuses on the social interaction between creators and backers and explores its influence on the successful exit of crowdfunding projects.

Design/methodology/approach

The extended Cox model is used for the empirical analysis of 1,988 crowdfunding projects on the Modian (www.modian.com) platform, a crowdfunding platform for cultural and creative projects in China. The two-way social interaction is reflected in comment quantity and sentiment, as well as reply rate.

Findings

Results reveal an inverted U-shaped relationship between comment quantity/sentiment and the successful exit of crowdfunding projects. This relationship is strengthened by high reply rate.

Originality/value

This study focuses on comment quantity and sentiment. The inverted U-shaped results reconcile previous conclusions. Replies from creators are regarded as a separate factor, and their moderating role is explained. The study research proves the importance of social interaction in crowdfunding platforms and provides suggestions for backers, creators and platform managers.

Details

Information Technology & People, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0959-3845

Keywords

Article
Publication date: 12 October 2023

Oluseye Olugboyega, Obuks Augustine Ejohwomu and Emmanuel Dele Omopariola

As the foundation for understanding the dynamics of the construction sector's corruption, this study examines building contractors' experiences of the stifling of moral, communal…

Abstract

Purpose

As the foundation for understanding the dynamics of the construction sector's corruption, this study examines building contractors' experiences of the stifling of moral, communal and cultural values in the name of modern social and religious principles.

Design/methodology/approach

This study's objective was accomplished in two phases. First, a theoretical model was constructed. The theory is then tested using structural equation modeling in the second section. The theory suggests that, based on social norm and institutional theories, social disquietude and religious manipulation influence the interaction and types of corruption in the Nigerian construction sector. From this theory, it was deduced that social malaise (hypothesis 1) and religious manipulations (hypothesis 2) mediate the processes and forms of corruption in the construction sector. To validate the hypotheses, a structural equation model (SEM) was developed and tested.

Findings

Native intelligence, new values, social quests and poverty are the social malaises that are profoundly responsible for corruption manifestations in the construction industry. The findings confirmed that construction stakeholders are heavily influenced financially and spiritually by religious organizations. Construction stakeholders engage in corrupt activities as a result of the ravenousness and self-interest bestowed on them by religious manipulation and the significant contribution of social malaise. The study admits that social engineering is required to integrate local wisdom and values into Nigerian society in order to mitigate the negative consequences of social unrest and religious manipulations.

Research limitations/implications

This study has contributed to a branch of the literature on corruption in the construction industry that aims to identify the hidden factors that drive the sector's corruption dynamics. It has shown how many different problems in society and religious beliefs can make building contractors more likely to be dishonest. In order to improve project delivery, this study emphasized the importance of investigating the relationship between religious affiliations, religious doctrines and domination and religious competition on corruption in the construction industry.

Social implications

Following the findings of this study, the majority of construction stakeholders place their trust in unmerited favor, “spirit money,” prosperity gospels and the payment of offerings and “seed money” to win contracts. This implies that construction stakeholders will most likely be deceptive in their dealings, increasing the quantity of certified work, increasing variation claims and engaging in collusion. This is because their faith in inconceivable favors and the exchange of offerings for blessings would lead them to perceive fraudulent practices as a favor.

Originality/value

This study is unique in that it sought to determine whether construction stakeholders' corrupt tendencies stem from religious manipulations and complex social systems.

Details

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

Keywords

Article
Publication date: 28 February 2024

Daniel Dramani Kipo-Sunyehzi, Abdul-Fatawu Abubakari and John-Paul Safunu Banchani

This study aims to focus on public policy concerning the implementation of public procurement policies in Nigeria and Ghana toward achieving value for money in the procurement of…

Abstract

Purpose

This study aims to focus on public policy concerning the implementation of public procurement policies in Nigeria and Ghana toward achieving value for money in the procurement of goods, services and works. It specifically analyzes some major administrative challenges Nigeria and Ghana are faced with in the administration/implementation of public procurement policies toward achieving value for money. It looks at the relationship between the state (regulatory authorities) and substate (procurement entities) in the public sectors of Nigeria and Ghana.

Design/methodology/approach

A comparative case study approach is adopted, where the two countries are compared in terms of achieving value for money. Data was collected from multiple sources, including in-depth interviews. The use of official documents and direct observations at the procurement regulatory authorities and entities’ premises.

Findings

This study found Nigeria often used the four Es – economy, efficiency, effectiveness and equity while Ghana mainly used the traditional five rights (right quantity, right quality, right price, right place and right time) as their criteria for ensuring value for money. The major administrative challenges found include corruption, low capacity of procurement personnel and poor knowledge of the procurement laws.

Social implications

It recommends effective collaboration between government and civil society groups in the fight against corruption in procurement-related activities, with the implication that there is a need for periodic training for public procurement officials.

Originality/value

It adds to the field of public procurement in terms of value for money in the procurement of goods, services and works in developing countries context.

Details

Journal of Public Procurement, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1535-0118

Keywords

Article
Publication date: 28 December 2023

Jihane Benkhaira and Hafid El Hassani

The present article aims to estimate an autoregressive vector model covering the period of 1990–2021 to analyze the effect of public spending and monetary supply increases in…

Abstract

Purpose

The present article aims to estimate an autoregressive vector model covering the period of 1990–2021 to analyze the effect of public spending and monetary supply increases in economic activity in Morocco.

Design/methodology/approach

A literature review on the policy of recovery with fiscal and monetary tools and its theoretical foundations was established. Then, an empirical study on the Moroccan context was executed to study the effectiveness of these instruments in Morocco from 1990 to 2021, using autoregressive vector modeling.

Findings

The results present a state of a positive relationship and statistical significance of public spending, money supply and economic growth. The impulse response function analysis and the forecast error variance decomposition showed that public spending does not have a large impact on gross domestic product, while the money supply has a real power to stimulate the growth of economic activity in Morocco.

Originality/value

This study aims to demonstrate the positive effect of the coordination of public spending and monetary supply increases on gross domestic product in Morocco. Additionally, the analysis using vector autoregressive modeling, impulse response functions, variance decomposition techniques and causality tests, provides crucial insights to guide researchers, practitioners and policymakers in developing more effective and resilient economic strategies. The findings from this study not only illuminate immediate recovery strategies but also contribute to strengthening the resilience of economies against potential future shocks.

Details

African Journal of Economic and Management Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-0705

Keywords

Article
Publication date: 20 July 2022

Chukwuebuka Bernard Azolibe, Stephen Kelechi Dimnwobi and Chidiebube Peace Uzochukwu-Obi

In developing countries, banks play a major role by acting as a conduit for the effective mobilization of funds from the surplus sectors of an economy for onward lending to the…

Abstract

Purpose

In developing countries, banks play a major role by acting as a conduit for the effective mobilization of funds from the surplus sectors of an economy for onward lending to the deficit sectors for productive investments that will in turn increase the level of employment and economic growth. There has being a rising trend in unemployment rate in Nigeria and South Africa and hence, the need for the study to assess the effectiveness of banking system credit in curbing unemployment rate by making a comparative analysis of Nigeria and South Africa covering the period of 1991–2018.

Design/methodology/approach

The study employed the unit root test, Johansen cointegration test, vector error correction model and VAR impulse response function in determining the relationship between the variables.

Findings

The major findings revealed that banking system credit matters in curbing unemployment rate in South Africa than in Nigeria. Also, other macroeconomic factors such as lending rate, inflation rate, Government expenditure and population growth were significant enough in influencing unemployment rate in South Africa than in Nigeria. Foreign direct investment was a significant factor in reducing unemployment rate in Nigeria than in South Africa. The cointegration test showed a long-term relationship between the variables in both countries while the speed of adjustment coefficient of the vector error correction model is faster in South Africa than in Nigeria.

Originality/value

Previous empirical studies on the relationship between banking system credit and unemployment rate have focused much on other regions such as Asia and Europe. Thus, the study is unique as it focused on the African region and also made a comparative analysis by testing the Keynesian theory of employment, interest and money on two emerging African economies which are Nigeria and South Africa.

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: 12 September 2023

Yousef Hassan

Content analysis was used to measure corporate social responsibility (CSR) reporting. The ordinary least squares (OLS) regressions with robust standard errors are used to examine…

Abstract

Purpose

Content analysis was used to measure corporate social responsibility (CSR) reporting. The ordinary least squares (OLS) regressions with robust standard errors are used to examine the relationships for a sample of 168 firm-year observations listed on the Palestine Exchange during 2018–2021. A logistic regression is also utilized as an alternative measurement for CSR quantity disclosure and to ensure the robustness of the author’s main findings.

Design/methodology/approach

Based on 168 observations listed on the Palestine Exchange (PEX) between 2018 and 2021, this study examines the impact of women's representation on the CSR reporting of Palestinian firms' boards. Moreover, the moderating effect of ownership concentration on the relationship between BGD and CSR reporting is examined. In order to test the hypotheses, the author’s employ OLS regressions with robust standard errors. A logistic regression is also utilized as an alternative measurement for CSR quantity disclosure and to ensure the robustness of the author’s main findings.

Findings

The results reveal that Palestinian companies with more women on their boards have higher CSR practices and disclosure levels. In addition to the validity of agency, stakeholder and legitimacy theories, the findings show the relevance of gender socialization and critical mass theories in explaining the favorable influence of women's presentation on boards in promoting best practices among Palestinian firms, such as CSR disclosure.

Research limitations/implications

The study contributes to the limited literature in the MENA and Arab region countries by examining the influence of BGD on CSR reporting in Palestine, an emerging economy characterized by highly political and economic instability. The study offers a novel contribution by examining the impact of BGD, on not only the CSR reporting quantity but also the reporting quality. However, the generalizability of the study is limited due to the small sample size.

Practical implications

The findings of the study may bring the issues of CSR disclosure and female representation on board of directors to the attention of Palestinian firms' board of directors and managers, investors, professional associations, policymakers and regulators. While listed firms are only required to provide general information that falls under the scope of CSR in their annual reports under the Palestinian code of corporate governance, women representation on boards of directors is not addressed.

Originality/value

This study adds to the very limited literature on the role of the BGD in promoting CSR reporting in the Middle Eastern and Arabic markets in general, and in the Palestinian context in particular. This paper not only investigates but also seeks to theorize this role.

Details

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

Keywords

Article
Publication date: 5 April 2024

Mandeep Kaur, Maria Palazzo and Pantea Foroudi

Circular supply chain management (CSCM) is considered a promising solution to attain sustainability in the current industrial system. Despite the exigency of this approach, its…

Abstract

Purpose

Circular supply chain management (CSCM) is considered a promising solution to attain sustainability in the current industrial system. Despite the exigency of this approach, its application in the food industry is a challenge because of the nature of the industry and CSCM being a novel approach. The purpose of this study is to develop an industry-based systematic analysis of CSCM by examining the challenges for its application, exploring the effects of recognised challenges on various food supply chain (FSC) stages and investigating the business processes as drivers.

Design/methodology/approach

Stakeholder theory guided the need to consider stakeholders’ views in this research and key stakeholders directly from the food circular supply chain were identified and interviewed (n = 36) following qualitative methods.

Findings

Overall, the study reveals that knowledge, perception towards environmental initiatives and economic viability are the major barriers to circular supply chain transition in the UK FSC.

Originality/value

This research provides a holistic perspective analysing the loopholes in different stages of the supply chain and investigating the way a particular circular supply chain stage is affected by recognised challenges through stakeholder theory, which will be a contribution to designing management-level strategies. Reconceptualising this practice would be beneficial in bringing three-tier (economic, environmental and social) benefits and will be supportive to engage stakeholders in the sustainability agenda.

Details

Qualitative Market Research: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1352-2752

Keywords

Article
Publication date: 25 March 2024

Robert Ford and Lindsay Schakenbach Regele

This historical example of the creation of the arms industry in the Connecticut River Valley in the 1800s provides new insights into the value of government venture capital (GVC…

Abstract

Purpose

This historical example of the creation of the arms industry in the Connecticut River Valley in the 1800s provides new insights into the value of government venture capital (GVC) and government demand in creating a new industry. Since current theoretical explanations of the best uses of governmental venture capital are still under development, there is considerable need for further theory development to explain and predict the creation of an industry and especially those industries where failures in private capital supply necessitates governmental involvement in new firm creation. The purpose of this paper is to provide an in depth historical review of how the arms industry evolved spurred by GVC and government created demand.

Design/methodology/approach

This study uses abductive inference as the best way to build and test emerging theories and advancing theoretical explanations of the best uses of GVC and governmental demand to achieve socially required outcomes.

Findings

By observing this specific historical example in detail, the authors add to the understanding of value creation caused by governmental venture capital funding of existing theory. A major contribution of this paper is to advance theory based on detailed observation.

Originality/value

The relatively limited research literature and theory development on governmental venture capital funding and the critical success factors in startups are enriched by this abductive investigation of the creation of the historically important arms industry and its spillover into creating the specialized machine industry.

Details

Journal of Management History, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1751-1348

Keywords

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