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Book part
Publication date: 29 January 2024

Anna Slobodianyk, Anna Maryna, Halyna Kosovets, Liudmyla Tsiukalo and George Abuselidze

This chapter considers aspects of ensuring competitive advantages of the banking sector of Ukraine in the context of global digital transformation. It is proved that operations…

Abstract

This chapter considers aspects of ensuring competitive advantages of the banking sector of Ukraine in the context of global digital transformation. It is proved that operations that previously required a large amount of resources and time can now be carried out automatically using software solutions and artificial intelligence (AI). Companies like FinTech and BigTech that combine financial technology with their core services pose a serious threat to traditional banks. The authors noted that digital technologies make it possible to provide faster and more efficient customer service and improve the security of operations and reduce costs. The emphasis is placed on the fact that the use of AI in the banking sector will contribute to improving the efficiency and accuracy of banks, reducing risks and costs, and also contributes to the selection of personalized approaches to their customers. It has been proven that, thanks to AI, banking companies can improve the efficiency of their work, reduce costs, and improve interaction with their customers, thereby gaining competitive advantages in the market.

Details

Digital Technology and Changing Roles in Managerial and Financial Accounting: Theoretical Knowledge and Practical Application
Type: Book
ISBN: 978-1-80455-973-4

Keywords

Article
Publication date: 4 July 2023

Mete Feridun

The purpose of this article is to make a contribution to the existing knowledge by using the unique cross-jurisdiction data drawn from the FCA’s REP-CRIM submissions to explore…

Abstract

Purpose

The purpose of this article is to make a contribution to the existing knowledge by using the unique cross-jurisdiction data drawn from the FCA’s REP-CRIM submissions to explore dynamics behind firms’ perceptions on financial crime. Capturing firm’s sentiment is notoriously challenging, and any relevant regulatory data is usually not available in the public domain. A recent exception is the UK Financial Conduct Authority’s (FCA’s) financial crime data return (REP-CRIM) submissions which include the cross-country regulatory data on the UK financial institutions’ perceptions of jurisdiction risk. Despite a broad literature with respect to financial crime, there exists an important gap in the existing knowledge with respect to factors that are associated with the perceptions of firms with respect to jurisdiction risk, which this article aims to close.

Design/methodology/approach

Using cross-country regulatory data on the UK financial institutions’ perceptions of jurisdiction risk, this study empirically determines that perceptions of jurisdiction risk is significantly and positively associated with anti-money laundering and countering the financing of terrorism (AML/CFT) framework, as well as with tax burden on business and institutional and legal risk in the case of 165 jurisdictions.

Findings

The findings lend support to the proposition that unsystematic efforts and too much publicity may ascertain the high-risk image of a jurisdiction, deterring cross-border business. Policy implications that emerge from the study also add to the case for strengthening institutional and legal frameworks, as well as relieving the tax burden on doing business.

Research limitations/implications

Findings of the present study should be interpreted with caution, as the dependent variable used in the present study reflects UK firms’ perceptions of jurisdiction risk, which may depend on various factors such as different risk appetites and the countries in which firms carry out business, and not necessarily the actual level of risks based on financial crime statistics. For example, a jurisdiction which may indeed be considered high risk, would not necessarily be ranking high on the FCA’s list of UK firms’ jurisdiction risk perceptions due to few firms operating in that particular country. As a result, the list could differ from the Financial Action Task Force’s black and grey lists. Findings based on the regulatory data on the UK financial institutions’ perceptions of jurisdiction risk should be considered preliminary in nature, given that they are based on a single year cross sectional data. As global and country-level AML/CFT efforts continue to intensify and as more regulatory data becomes publicly available, it would be imperative to bring further empirical evidence to bear on the question of whether financial crime perceptions are likely to be more pronounced for jurisdictions where AML/CFT efforts are more intensified. Likewise, from a policy standpoint, it would be equally important to explore further the role that institutional and legal risk, as well as tax burden on businesses, play in shaping firms’ perceptions of jurisdiction risk.

Practical implications

Findings lend support to the proposition that unsystematic efforts and too much publicity may ascertain the high-risk image of a jurisdiction, deterring cross-border business. Therefore, rather than waiting for more data to be made available by other financial regulators, which could lead to a more conclusive evidence in the future, on balance, the findings of this study add to the case for carefully designing and systematically implementing AML/CFT measures in a less publicized manner. Findings lend support to the theoretical postulation that disorderly efforts and undue publicity regarding AML/CFT efforts serve to ascertain the high-risk image of a jurisdiction, which could deter cross-border business and could be detrimental to how firms undertake due diligence. They also suggest that disorderly implementation of AML/CFT measures may hinder access to formal financial service and jeopardize authorities’ ability to trace the movement of funds, which may also add to negative perceptions of jurisdiction risk.

Social implications

Findings are in line with the theoretical expectations that perceptions of jurisdiction risk would be expected to be higher in countries with inadequate disclosure rules, lax regulation and opacity jurisdiction. Likewise, results are aligned with the expectations that tax burden on business would be expected to be in a positive relationship with jurisdiction risk, as it would increase the likelihood of tax evasion, which incentivizes financial crime. Therefore, policy implications that emerge from the study also add to the case for strengthening institutional and legal frameworks and relieving the tax burden on doing business as part of efforts to improve the international image of jurisdictions with respect to financial crime risks.

Originality/value

Using the cross-country regulatory data on the UK financial institutions’ perceptions of jurisdiction risk, this study has empirically determined that perceptions of jurisdiction risk is significantly and positively associated with AML/CFT framework, as well as with tax burden on business and institutional and legal risk. These findings have implications from a policy standpoint.

Details

Journal of Money Laundering Control, vol. 27 no. 3
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 8 June 2023

Gioconda Mele, Guido Capaldo, Giustina Secundo and Vincenzo Corvello

In the landscape created by digital transformation, developing the ability to adapt and innovate by absorbing and generating new knowledge has become a strategic priority for…

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Abstract

Purpose

In the landscape created by digital transformation, developing the ability to adapt and innovate by absorbing and generating new knowledge has become a strategic priority for organizations. The theory of dynamic capabilities, especially from a knowledge-based perspective, has proven particularly useful in studying the phenomena of transformation and change. Moving from this premise, this paper aims to map the state of research and to define guidelines for the actualization of dynamic capabilities theory in the digital transformation era.

Design/methodology/approach

A structured literature review of 75 papers, using descriptive, bibliographic and content analysis, was performed to analyze the evolution of dynamic capabilities in the context of digital transformation.

Findings

Studies concerning knowledge-based dynamic capabilities for digital transformation have been clustered into five main research areas: the micro-foundation of dynamic capabilities for digital transformation; dynamic capabilities for value creation in digital transformation; dynamic capabilities for digital transition in specific industries; dynamic capabilities for “data-driven organizations”; and dynamic capabilities for digital transformation in SMEs and family firms. A future research agenda for scholars in strategic management is presented.

Practical implications

A conceptual framework and a future research agenda are presented to highlight directions for this promising research field concerning the renewal of dynamic capabilities in the context of digital transformation.

Originality/value

The originality of the paper lies in the conceptual framework aiming to systematize current research on knowledge-based dynamic capabilities for digital transformation and to provide a new conceptualization of digital dynamic capabilities, clarifying how organizations create and share knowledge in the era of digitalization.

Article
Publication date: 16 October 2023

Luca A. Breit and Christine K. Volkmann

The developing field of entrepreneurial marketing reflects input from both marketing and entrepreneurship. Since the early 1980s, it has evolved heterogeneously, without a…

Abstract

Purpose

The developing field of entrepreneurial marketing reflects input from both marketing and entrepreneurship. Since the early 1980s, it has evolved heterogeneously, without a coherent theory, leading to complex scholarly views. Therefore, this literature review aims to shed light on the recent developments, reveal various research perspectives related to entrepreneurial marketing and derive future research avenues.

Design/methodology/approach

To account for recent scientific contributions and establish a more transparent view of divergent insights, the systematic literature review reported herein covers 207 peer-reviewed journal articles published after the “Charleston Summit” over 12 years (2010–2021) and details their contributions based on descriptive and inductive thematic analysis.

Findings

First, a descriptive analysis illustrates recent scientific developments indicating that entrepreneurial marketing is a vibrant research field with a continuous increase in publications worldwide and a wide range of research methods applied. Second, the thematic analysis suggests a three-part classification into entrepreneur, business and market perspectives. The authors present the most frequent themes and subthemes within this literature domain, as well as offering a critical assessment of the field that reveals key directions for expanding existing research.

Originality/value

To the best of the authors’ knowledge, this study is the first comprehensive review systematically examining entrepreneurial marketing literature while conducting an in-depth thematic analysis. It enhances current knowledge of the field by extending previous narrative and bibliographic reviews and discussing research directions. Aside from specific research questions, an alternative way to narrow down the multiple research objects is elaborated by critically debating the perspectives.

Details

Journal of Research in Marketing and Entrepreneurship, vol. 26 no. 2
Type: Research Article
ISSN: 1471-5201

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Article
Publication date: 7 March 2023

Mark N. Wexler and Judy Oberlander

Strategic pivoting, the decision to invest in shifting the attention of an organization, is no longer limited to early-stage organizations and entrepreneurs but has, without a…

Abstract

Purpose

Strategic pivoting, the decision to invest in shifting the attention of an organization, is no longer limited to early-stage organizations and entrepreneurs but has, without a discussion of complications, been applied to large corporations and public agencies.

Design/methodology/approach

This conceptual paper defines strategic pivoting, highlights the centrality of pivoting in new and entrepreneurial organizations and critically examines its application as a strategy fostering organizational agility in corporations.

Findings

Pivoting in the corporate context complicates the ease of executing an attention shift by introducing a path-dependent momentum that requires modification of the time horizon, stakeholder strategy and the frequency of pivoting.

Practical implications

This comparative examination of pivoting highlights the importance of organizational size, complexity, degree of specialization and path-dependent history when deciding to pivot.

Originality/value

The present ease with which the strategic pivot is treated as an adaptive strategy to corporate leaders seeking greater flexibility overstates the ease of execution.

Details

Journal of Business Strategy, vol. 45 no. 1
Type: Research Article
ISSN: 0275-6668

Keywords

Article
Publication date: 9 January 2024

Subhamoy Chatterjee and R.P. Mohanty

Interest rate derivatives (IRDs) are the essential components of financial risk management and are used across various industry sectors. The objective is to analyze the…

Abstract

Purpose

Interest rate derivatives (IRDs) are the essential components of financial risk management and are used across various industry sectors. The objective is to analyze the differences in approach to managing interest rate risks between the Indian corporates that execute IRDs and the ones that do not.

Design/methodology/approach

Interest rate fluctuations require Indian corporates to hedge their exposures in foreign currency interest rates. This is all the more true for mid-sized corporates because of their balance sheet exposures. Additionally, they may not have the resources to formulate risk management policies. This paper analyzes data collected from financial statements of a diverse set of companies that use IRD and helps in formulating such a strategy.

Findings

The results indicate significant differences for some of the parameters like information asymmetry and agency cost between users and non-users of IRDs. The study further suggests causality between users of derivatives and parameters like size, growth and debt.

Research limitations/implications

The study compares users and non-users of IRDs, thereby identifying factors unique to users of IRDs. It also studies causality relations which explain the motivation to do IRDs. Thus, it enables risk managers to use this as a reference point to decide on their strategies.

Originality/value

While there are multiple studies across geographies and sectors including commercial banks in India on the usage of interest rate swaps, this study focuses on Indian mid-tier corporates. Furthermore, the study distinguishes between users and non-users based on financial parameters, which in turn would provide a framework for decision-hedging strategies.

Article
Publication date: 29 March 2024

Aysu Göçer, Sebastian Brockhaus, Stanley E. Fawcett, Ceren Altuntas Vural and A. Michael Knemeyer

Sustainability continues to be put forth as a strategic priority. However, sustainability efforts are often deemphasized for short-term profitability. This study explores the…

Abstract

Purpose

Sustainability continues to be put forth as a strategic priority. However, sustainability efforts are often deemphasized for short-term profitability. This study explores the nuances in managerial decision-making related to adopting sustainability initiatives within food supply chains in an emerging economy. We identify a complex interaction between sustainability efforts and risk mitigation. We derive a model to explain conflicting company goals, managerial decisions and system design.

Design/methodology/approach

We followed an exploratory research design with an inductive approach. We analyzed data from semi-structured interviews with 29 companies representing different tiers in Turkish food supply chains. We refined and validated the interview findings through a focus group with nine senior managers. We conducted open, focused and theoretical coding in an iterative and reflective manner to analyze the data and derive our results.

Findings

From the data, three themes emerged, indicating that managers are pursuing different, often conflicting, goals concerning value creation, risk management and sustainability performance. Managers identified and commented on new risks brought on by sustainability initiatives. These sustainability-induced risks were seen as a threat to operational performance, a driver of increased costs and a negative impact on product quality and delivery performance. Trade-offs across operating, sustainability and risk management systems create transformational tension that confounds the sustainability adoption decision-making process.

Originality/value

The data from the study was contrasted with a theoretical framework derived from systems theory, goal-setting theory of motivation and the theory of planned behavior. We identified four distinct decision paths that managers pursue. Increased awareness of transformational tension and how it influences managerial decision-making can enhance strategic sustainability system design and initiative success.

Details

The International Journal of Logistics Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0957-4093

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Article
Publication date: 30 September 2022

Saba Gulzar, Kanwal Hussain, Ather Akhlaq, Zuhair Abbas and Shagufta Ghauri

Recent advancements in the field of organizational psychology have transformed the employees’ perceptions related to the reactions of the employment relationship. The main aim of…

Abstract

Purpose

Recent advancements in the field of organizational psychology have transformed the employees’ perceptions related to the reactions of the employment relationship. The main aim of the study is to explore the consequences of psychological contracts among the nursing staff and how to provide better patient care and quality service in the health-care system as nurses play a pivotal role in the context of Pakistan. Significantly, this study attempts to bridge the research gap by exploring consequences of psychological contracts. Drawing on the social exchange theory, this study examined the psychological contracts of nurses and their reactions to the perceived violation.

Design/methodology/approach

This research adopted a qualitative method and was based on an exploratory approach. Data were collected through in-depth semi-structured interviews from 21 nurses working in public, private and charity hospitals in Karachi, Pakistan. The thematic content analysis is employed for the analysis of data by using NVivo software.

Findings

The study identified the relational and transactional elements related to the psychological contract of nurses who predominantly consisted of supervisor support, autonomy, tangible/intangible rewards and trust. The intrinsic motivation which relates to their devotion to work was found as an additional element to balance their psychological contract. This research also establishes that the psychological contract of nurses is being violated in their work settings.

Practical implications

By highlighting the importance of psychological contract breach, the findings demonstrate that health-care institutions should take measures to cope with psychological contract breach issues at the workplace.

Originality/value

This study contributes to the body of knowledge by exploring psychological contract breach. Substantially, there are rare studies conducted on psychological contract breach among nurses in developing country context (Pakistan). However, this study adds to the previous studies related to the psychological contract of nurses in the context of Pakistan by using social exchange theories. Finally, this study enables the management of healthcare to balance the psychological contract issues effectively.

Details

Asia-Pacific Journal of Business Administration, vol. 16 no. 1
Type: Research Article
ISSN: 1757-4323

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Article
Publication date: 14 July 2023

Sara Hajmohammad, Robert D. Klassen and Stephan Vachon

Buying firms are increasingly exposed to sustainability risk arising from negative conditions or potential events in their supply base that might provoke adverse stakeholder…

Abstract

Purpose

Buying firms are increasingly exposed to sustainability risk arising from negative conditions or potential events in their supply base that might provoke adverse stakeholder reactions. Procurement managers at these firms can pursue multiple strategies to address this risk with suppliers, including acceptance, monitoring-based mitigation, avoidance and collaboration-based mitigation. This study aims to investigate how perceived risk, supplier dependence and financial slack resources contribute to the strategic preferences of these managers.

Design/methodology/approach

A vignette-based experiment with procurement managers is used to examine the factors affecting the managers’ strategic preferences in managing supplier sustainability risk.

Findings

The empirical results revealed that the procurement managers’ preference for avoidance or collaboration strategies was stronger when they perceived higher risk, but their preference varied based on the degree of supplier dependence. Specifically, when they perceived a high level of risk, procurement managers were more inclined toward a monitoring strategy with dependent suppliers and preferred an avoidance strategy when they dealt with independent ones. Financial slack was also an influential factor: managers with more slack at their disposal preferred to collaborate with suppliers to address the risk; on the other hand, limited slack shifted their preference toward an acceptance strategy, regardless of the level of risk.

Originality/value

This study helps to develop a more nuanced picture of how procurement managers make challenging and complex trade-offs when responding to supplier sustainability risk.

Details

Supply Chain Management: An International Journal, vol. 29 no. 1
Type: Research Article
ISSN: 1359-8546

Keywords

Article
Publication date: 15 February 2024

Aleksandra Gaweł and Timo Toikko

The social inclusion of immigrants has been a central public policy issue in European countries, and entrepreneurship is often promoted as a form of integration. Female immigrants…

Abstract

Purpose

The social inclusion of immigrants has been a central public policy issue in European countries, and entrepreneurship is often promoted as a form of integration. Female immigrants face double discrimination of gender and ethnicity while becoming entrepreneurs. The aim of the paper is to investigate the female empowerment in the host country as a predictor of immigrant women engagement in entrepreneurship.

Design/methodology/approach

Based on panel data for European Union countries for years 2006–2021, female immigrant entrepreneurship was modelled by the impact of variables showing the empowerment of women in host countries. Data availability was the determinant regarding the inclusion of 22 countries: Austria, Belgium, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Luxembourg, Malta, Netherlands, Poland, Portugal, Slovenia, Spain and Sweden were all in the research sample.

Findings

Although immigrant entrepreneurship is highly context-oriented and locale-specific (as in the physical setting for relationships among people), some universal patterns for a group of countries are found. A stronger political and managerial position of power for the women in host countries encourages female immigrant entrepreneurship, while the gender pay gap is statistically insignificant.

Originality/value

The originality of the paper is due to the multi-country level and female-focused research perspectives in immigrant entrepreneurship. The study refers to the intersectionality of gender and ethnicity, arguing that the empowerment of women in host countries affects female immigrant entrepreneurship at the macro-level.

Details

International Journal of Sociology and Social Policy, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0144-333X

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