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1 – 10 of 16
Article
Publication date: 14 May 2018

Riadh Manita, Maria Giuseppina Bruna, Rey Dang and L’Hocine Houanti

The purpose of this paper is to investigate the relationship between corporate debt-like compensation and the value of excess cash holdings.

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Abstract

Purpose

The purpose of this paper is to investigate the relationship between corporate debt-like compensation and the value of excess cash holdings.

Design/methodology/approach

The environmental, social and governance (ESG) disclosure score provided by Bloomberg is used as a proxy for the extent of corporate social responsibility (CSR). The empirical analysis is based on a sample of 379 firms that made up the Standard & Poor’s 500 Index over the period 2010-2015. In order to take into account the endogeneity problem between board gender diversity and ESG disclosure, a fixed effect model with lagged board variables is used.

Findings

Two main results arise from this study. First, no significant relationship is found between board gender diversity and ESG disclosure. Second, the evidence also partially confirms critical mass theory, as below three female directors the relationship between board gender diversity and ESG disclosure is not statistically significant. However, beyond that, no significant relationship was found.

Research limitations/implications

Reasonable theoretical arguments drawn from stakeholder theory suggest that board gender diversity may have a positive effect on ESG disclosure. The empirical evidence presented neither supports, nor denies stakeholder theory. However, the results may be improved by enlarging the frontiers of this research in time and space, increasing the perimeter of qualitative data integrated in this investigation.

Practical implications

This paper offers theoretical and empirical arguments for the feminization of corporate boards, not only in the name of equality between women and men and organizational justice, but also in the light of organizational performance (examined through the prism of governance). Transparency, analyzed using the proxy of ESG disclosure, is strongly and positively correlated with a feminization of boards, if the proportion of women is significant and sufficient to be able to prevent and surpass the “invisibilization” phenomenon, which is based on the marginalization of passive ultra-minorities, reduction to silence, marginalization (disqualification of women voice or exit strategy), assimilation or the endorsement of stigma.

Originality/value

First, this makes a theoretical contribution to the diversity and governance literature by examining the effect of WOCB on ESG disclosure through the stakeholder theory (Freeman, 2010). Second, the authors contribute to the CSR literature (cf. Byron and Post, 2016) by documenting specifically the effect of board gender diversity on CSR disclosures through ESG. Indeed, ESG research mainly concentrates on firm financial performance (Galbreath, 2013). No study has examined the relationship between WOCB and ESG disclosure. Finally, from an empirical standpoint, an FE model with lagged board variables (Liu et al., 2014) is used to fully address the endogeneity problems in the relationship between WOCB and ESG disclosure that may occur because of differences in unobservable characteristics across firms or reverse causality (Boulouta, 2013).

Details

Journal of Applied Accounting Research, vol. 19 no. 2
Type: Research Article
ISSN: 0967-5426

Keywords

Book part
Publication date: 1 November 2018

Amélie Charles, Rey Dang and Etienne Redor

Numerous empirical studies have been conducted to analyze the impact of board gender diversity (BGD) on firm performance without being able to establish a clear…

Abstract

Numerous empirical studies have been conducted to analyze the impact of board gender diversity (BGD) on firm performance without being able to establish a clear relationship. In this paper, we reassess the relationship between BGD and firm performance by using a quantile regression approach. Our results indicate that BGD matters only across a subset of the firm performance distribution. Moreover, when the possible endogeneity of the relationship between BGD and firm performance is taken into account, there are some conditions under which a positive and significant relationship is observed for the eight lowest quantiles.

Details

International Corporate Governance and Regulation
Type: Book
ISBN: 978-1-78756-536-4

Keywords

Content available
Book part
Publication date: 1 November 2018

Abstract

Details

International Corporate Governance and Regulation
Type: Book
ISBN: 978-1-78756-536-4

Article
Publication date: 12 August 2021

Maria Rita Blanco and Mariela N. Golik

The career is a space where family and work lives amalgamate. The role of work for the individual, and the meaning of work within the culture, will determine the relevance…

Abstract

Purpose

The career is a space where family and work lives amalgamate. The role of work for the individual, and the meaning of work within the culture, will determine the relevance of family. This study investigates CEOs' perception about conjugal family influence on career decisions, and it examines family factors.

Design/methodology/approach

Through a qualitative study, 22 Latin American CEOs who work for multinational firms were interviewed in a semi-structured way.

Findings

Not all career decisions were influenced by conjugal family. CEOs varied in the extent to which they considered their families when reflecting on their career decisions. Expatriation, joining or quitting an organization and change of area of work were found as those decisions perceived to be influenced by conjugal family. Family support, family structure and family demands and responsibilities were identified as the family factors involved. In spite of the role salience, family factors influenced some of CEOs' career decisions, in part, due to the cultural characteristics of the Latin American environment. The instrumental support of the extended family, as part of collectivist societies, was also evidenced.

Practical implications

A better understanding of the family influenced decisions and family factors involved may enhance individual career decision-making as well as organizational career management processes and public initiatives.

Originality/value

This study contributes to family and career literature, being the first one to explore the conjugal family influence upon CEOs' career decisions.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 12 May 2020

Rahul Dhiman, Vinod Kumar and Sudhir Rana

This study aims to examine whether export competitiveness (EC) in the two groups of the Indian textile industry i.e. “textiles” and “textile products” group differ.

Abstract

Purpose

This study aims to examine whether export competitiveness (EC) in the two groups of the Indian textile industry i.e. “textiles” and “textile products” group differ.

Design/methodology/approach

The study examines how exchange rate (ER), real effective exchange rate (REER) and EC of both the groups are related in the long run over the period 1991-1992 to 2018-2019 using Granger causality test and Johansen and Juselius co-integration test.

Findings

The study confirms that EC is a challenge that needs to be addressed to sustain in the international market, as the volatile trend can be found for EC in both groups. The econometric framework shedding light on both groups of the textile industry suggest that select determinants have different relationships with the EC for two groups. The findings of the Granger causality test reveal that the presence of unidirectional causality running from ER to EC in the case of both the groups. Also, the select variables are found to be co-integrated in the long run. However, in the case of REER, no causality is found running from REER to EC.

Originality/value

ER is a vital determinant of EC and exporters can sustain competitiveness in global markets by reducing their profit mark-up in the face of an appreciating currency.

Details

Review of International Business and Strategy, vol. 30 no. 3
Type: Research Article
ISSN: 2059-6014

Keywords

Article
Publication date: 24 May 2022

Fusheng Liu, Zhihang He, Yue Qiao, Xinxin Liu, Xuelong Li, Wang Wei, Bo Su and Ruina Dang

The purpose of this paper is specifically to provide a more intelligent locomotion planning method for a hexapod robot based on trajectory optimization, which could reduce…

Abstract

Purpose

The purpose of this paper is specifically to provide a more intelligent locomotion planning method for a hexapod robot based on trajectory optimization, which could reduce the complexity of locomotion design, shorten time of design and generate efficient and accurate motion.

Design/methodology/approach

The authors generated locomotion for the hexapod robot based on trajectory optimization method and it just need to specify the high-level motion requirements. Here the authors first transcribed the trajectory optimization problem to a nonlinear programming problem, in which the specified motion requirements and the dynamics with complementarity constraints were defined as the constraints, then a nonlinear solver was used to solve. The leg compliance was taken into consideration and the generated motions were deployed on the hexapod robot prototype to prove the utility of the method and, meanwhile, the influence of different environments was considered.

Findings

The generated motions were deployed on the hexapod robot and the movements were demonstrated very much in line with the planning. The new planning method does not require lots of parameter-tuning work and therefore significantly reduces the cycle for designing a new locomotion.

Originality/value

A locomotion generation method based on trajectory optimization was constructed for a 12-degree of freedom hexapod robot. The variable stiffness compliance of legs was considered to improve the accuracy of locomotion generation. And also, different from some simulation work before, the authors have designed the locomotion in three cases and constructed field tests to demonstrate its utility.

Details

Industrial Robot: the international journal of robotics research and application, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0143-991X

Keywords

Article
Publication date: 24 March 2021

Jonathan Pettigrew, Robert Razzante, Joshua Allsup, Yu Lu and Colter D. Ray

The current study identifies successes and limitations of sustaining Dale se Real (DsR) as a school-based educational intervention program related to drugs and violence…

Abstract

Purpose

The current study identifies successes and limitations of sustaining Dale se Real (DsR) as a school-based educational intervention program related to drugs and violence for 7th and 8th grade students in Nicaragua, Central America. As evidence-based interventions are transported and imported across national borders, issues surrounding their adaptation and sustainability become important targets for investigation.

Design/methodology/approach

Interviews were conducted with nine key informants (e.g. school directors, implementers) from seven institutions, four of which sustained DsR and three of which did not. This study explores DsR's fit with the institutions' missions and routines, program adaptability, broader community support and sustainability planning.

Findings

Findings demonstrate two emerging views of sustainability within the Nicaraguan schools: a deficit approach and an empowerment approach. These two approaches imply different motivational structures for institutions and also led to the practical finding that developers and trainers need to provide structured or formal ways of empowering schools to continue implementing a program after staff no longer routinely contact them.

Originality/value

This study contributes a particular case on what facilitates and impedes sustainability of school-based interventions that can inform future intervention research in Latin American countries.

Details

Health Education, vol. 121 no. 4
Type: Research Article
ISSN: 0965-4283

Keywords

Article
Publication date: 26 April 2022

P.S. Raghu Kumari, Harnesh Makhija, Dipasha Sharma and Abhishek Behl

The study aims to identify the impact of board characteristics (BC) on a firm's environmental performance, and provides future research directions in the area of BC impact…

Abstract

Purpose

The study aims to identify the impact of board characteristics (BC) on a firm's environmental performance, and provides future research directions in the area of BC impact on environmental disclosures (ED) in case of India's environmentally sensitive and non-sensitive industries (SI and NSI).

Design/methodology/approach

The authors collect firm-level data from Prowess and Bloomberg, which cover 1,158 firm-year observations from National Stock Exchange of India (NSE) 500 listed companies from 2015 to 2020, and use a dynamic panel regression analysis to get deeper insights on the relationship of ED and BC.

Findings

The study found that lagged environment disclosure score is positively and significantly associated with current environmental disclosure scores. The presence of sustainability committee, board size and frequency of meetings has a positive and significant association with ED for sensitive as well as non-sensitive industry groups. Factors such as board Independence, board gender diversity and CEO duality have no significant impact on ED of both sensitive and non-sensitive industry groups.

Originality/value

Based on agency theory and stakeholder theory authors study for the first time in the context of India the effect of BC on ED using a large sample and covering an extensive period of six years. This study contributes by offering deep insights about the impact in case of “environmentally sensitive, non-sensitive and also all industries case”. The findings of this study are valuable for corporate managers and regulators who are interested in improving ED practices through a better-governed corporate mechanism.

Details

International Journal of Managerial Finance, vol. 18 no. 4
Type: Research Article
ISSN: 1743-9132

Keywords

Open Access
Article
Publication date: 13 November 2018

Yousaf Ali, Zainab Ahmed Shah and Amin Ullah Khan

This study aims to cover issues regarding traveling to a tourist destination which has seen war and terrorism. These problems can be addressed altogether, as they are…

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Abstract

Purpose

This study aims to cover issues regarding traveling to a tourist destination which has seen war and terrorism. These problems can be addressed altogether, as they are interrelated. Based on tourists’ opinions, this paper aims to focus on measures or steps that can be taken to ensure changing their perceptions about a certain destination.

Design/methodology/approach

This study targets tourism experts for their opinions regarding the measures most necessary to change the perceptions of tourists. Their opinions were extracted through a questionnaire based on three criteria with four alternatives. Furthermore, raw data extracted are studied using the Fuzzy-VIKOR technique to rank the alternatives in order of importance. Moreover, the questionnaire also aims to know the perception of participants by asking them what would make them trust a destination with a history of terrorism.

Findings

The problems captivate the attention of government, guiding them to ensure that they need to focus more on physical security of tourists if they expect tourism industry to thrive. It was found that the steps needed to be taken are in the areas of international trade, cultural exchange programs and social media advertising.

Originality/value

Research based on improving tourist perception of Pakistan to develop Pakistan as a tourist destination is scarce. The study takes four different alternatives into account for image recovery and based on those alternatives, it provides a unique solution to the government in this regard with the necessary steps they need to take and attempts to help the government ensure tourism expansion in the country.

Details

Journal of Tourism Analysis: Revista de Análisis Turístico, vol. 25 no. 2
Type: Research Article
ISSN: 2254-0644

Keywords

Article
Publication date: 10 August 2015

Mahmoud Arayssi and Ali Fakih

The purpose of this paper is to study the role of institutions (including civil law origin), financial deepening and degree of regime authority on growth rates in the…

Abstract

Purpose

The purpose of this paper is to study the role of institutions (including civil law origin), financial deepening and degree of regime authority on growth rates in the Middle East and North Africa region.

Design/methodology/approach

This paper examines the implications of industrial firm-related and national factors for the determinants of economic growth using panel data through a fixed effect model.

Findings

The results reveal that English civil law origin and the establishment of the rule of law work with the development of financial institutions to increase economic growth in these economies; however, the democratization of the political institutions and foreign direct investment do not assist financial development in promoting economic growth.

Research limitations/implications

Data covered is limited to four years.

Social implications

The findings emphasize the prominence of overcoming institutional weaknesses and establishing transparent public policy governing businesses as a pre-requisite for successful universal integration in developing countries.

Originality/value

This paper contributes to the literature on the relationship between finance and economic growth in two aspects. First, the authors focus on the contribution of the institutional setting and its interaction with the financial development and how this affects economic growth of the manufacturing firms. Second, the authors explore the relationship between the role of institutions, governance, the country civil law origin and the economic growth.

Details

International Journal of Social Economics, vol. 42 no. 8
Type: Research Article
ISSN: 0306-8293

Keywords

1 – 10 of 16