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Open Access
Article
Publication date: 18 July 2022

Wassim Ben Ayed

The purpose of this study is to investigate the impact of government policies adopted by the Tunisian government to cope with the COVID-19 sanitary crisis on stock market return.

Abstract

Purpose

The purpose of this study is to investigate the impact of government policies adopted by the Tunisian government to cope with the COVID-19 sanitary crisis on stock market return.

Design/methodology/approach

The author uses daily data from March 2, 2020, to July 23, 2021.

Findings

The author finds that policies interventions have a negative impact on Tunisia's stock market, particularly stock market returns due to stringency, confinement and health measures. Also, Government announcements regarding economic has a negative impact on Tunisia's stock market but this impact is insignificant. By conducting an additional analysis, the author shows that the government interventions policies amplify the negative effect of COVID-19 on stock returns.

Research limitations/implications

These results will be useful for policy authorities seeking to consider the advantages and drawbacks of government measures. Finally, a legislative proposal about the audit of public debt should be included in the Constitution to spur Tunisia's economic and social recovery.

Originality/value

This study contributes to the related literature in two ways: First, it is the first study to examine the impact of government actions on stock market performance. Second, it bridges a gap in the literature by investigating the case of Tunisia, because most studies focus on developed and emerging economies.

Details

Journal of Business and Socio-economic Development, vol. 4 no. 1
Type: Research Article
ISSN: 2635-1374

Keywords

Open Access
Article
Publication date: 25 September 2023

Wassim Ben Ayed and Rim Ben Hassen

This research aims to evaluate the accuracy of several Value-at-Risk (VaR) approaches for determining the Minimum Capital Requirement (MCR) for Islamic stock markets during the…

Abstract

Purpose

This research aims to evaluate the accuracy of several Value-at-Risk (VaR) approaches for determining the Minimum Capital Requirement (MCR) for Islamic stock markets during the pandemic health crisis.

Design/methodology/approach

This research evaluates the performance of numerous VaR models for computing the MCR for market risk in compliance with the Basel II and Basel II.5 guidelines for ten Islamic indices. Five models were applied—namely the RiskMetrics, Generalized Autoregressive Conditional Heteroskedasticity, denoted (GARCH), fractional integrated GARCH, denoted (FIGARCH), and SPLINE-GARCH approaches—under three innovations (normal (N), Student (St) and skewed-Student (Sk-t) and the extreme value theory (EVT).

Findings

The main findings of this empirical study reveal that (1) extreme value theory performs better for most indices during the market crisis and (2) VaR models under a normal distribution provide quite poor performance than models with fat-tailed innovations in terms of risk estimation.

Research limitations/implications

Since the world is now undergoing the third wave of the COVID-19 pandemic, this study will not be able to assess performance of VaR models during the fourth wave of COVID-19.

Practical implications

The results suggest that the Islamic Financial Services Board (IFSB) should enhance market discipline mechanisms, while central banks and national authorities should harmonize their regulatory frameworks in line with Basel/IFSB reform agenda.

Originality/value

Previous studies focused on evaluating market risk models using non-Islamic indexes. However, this research uses the Islamic indexes to analyze the VaR forecasting models. Besides, they tested the accuracy of VaR models based on traditional GARCH models, whereas the authors introduce the Spline GARCH developed by Engle and Rangel (2008). Finally, most studies have focus on the period of 2007–2008 financial crisis, while the authors investigate the issue of market risk quantification for several Islamic market equity during the sanitary crisis of COVID-19.

Details

PSU Research Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2399-1747

Keywords

Article
Publication date: 6 April 2023

Amira Bouteraa and Fatma Bouaziz

The purpose of this research is to study the impact of talent management practices on organizational resilience in Tunisian firms in times of the sanitary crises due to COVID-19.

Abstract

Purpose

The purpose of this research is to study the impact of talent management practices on organizational resilience in Tunisian firms in times of the sanitary crises due to COVID-19.

Design/methodology/approach

A hypothetico-deductive approach is adopted. First, it is hypothesized that four talent management practices positively affect organizational resilience. Then, the hypotheses were tested by using quantitative methods. Data were collected through questionnaires and analyzed with PLS-SEM techniques.

Findings

Results show that talent identification positively affects organizational resilience operationalized through the three dimensions of agility, integrity and robustness. Talent development and talent succession planning positively influence the firms' agility only, whilst talent retention had no effect on the three organizational resilience dimensions.

Practical implications

The findings of this research may be helpful for human resources managers to recognize among talent management practices those that are mostly associated with organizational resilience and its dimensions. This could help them revise some talent management practices and implement those that are lacking to ensure strong and resilient firms, especially in a context characterized by the occurrence of crises of different natures.

Originality/value

The literature review showed that talent management practices and organizational resilience relationships are understudied. This research empirically highlights the relevance of the linkage between them. It contributes to the rare existent works by identifying a significant effect of talent identification on all organizational resilience dimensions and a positive effect of talent development and succession planning on agility.

Details

African Journal of Economic and Management Studies, vol. 14 no. 2
Type: Research Article
ISSN: 2040-0705

Keywords

Abstract

Details

Digital Memory in Brazil
Type: Book
ISBN: 978-1-80262-803-6

Open Access
Article
Publication date: 7 April 2023

Giovanni Lucero-Romero and Leopoldo G. Arias-Bolzmann

This study experimentally aims to determine the degree of influence that mindfulness training exerts on learning capacity at the university level and contrasts it with previous…

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Abstract

Purpose

This study experimentally aims to determine the degree of influence that mindfulness training exerts on learning capacity at the university level and contrasts it with previous observational or relational studies that have shown contradictory results.

Design/methodology/approach

A quasi-experiment was carried out to measure the variation of six academic learning abilities – a) self-efficacy, b) organization of and attention to studies, c) stress control due to time pressure and the environment, d) involvement with college activity, e) emotional satisfaction, and f) class communication – which together comprise the research questionnaire called the college learning effectiveness inventory (CLEI). The CLEI questionnaire was administered before and after the participants were trained in the mindfulness technique. The study was conducted in Ecuador, and the participants were selected from among the graduate students of a local university.

Findings

The learning ability measured by the CLEI was improved by a statistically significant margin in the two groups.

Research limitations/implications

The treatment groups consisted of graduate students who did not have opportunities for full-time activities on campus, as they were limited to attending regular classes at specific times, usually at night. The dropout rate was 14% due to inconveniences caused by the pandemic. These conditions could have affected the study results both positively and negatively. In addition, the pandemic limited academic interactions, which are required to evaluate the learning results after applying the research instrument. This limitation was especially critical for people who had experienced online classes only.

Practical implications

Offering graduate students the opportunity to learn about and adopt a mindfulness practice helps to improve their academic outcomes, as reflected through the statistical measurement of the CLEI indicator.

Social implications

This study is especially relevant within the context of sanitary conditions due to the pandemic and the intensive use of technology for managing academic interactions, both of which have replaced physical contact between participants.

Originality/value

The main contributions of this study are related to the determination of the practical effects of mindfulness training in postgraduate university settings and the identification of the mechanisms involving participants' reflecting upon, learning and understanding the importance of perfecting their soft skills to facilitate their learning processes and face today's uncertain environments.

研究目的

本研究採用實驗方法、來釐定正念認知對在大學水平上的學習能力的影響程度,並對比於以往顯示了相互矛盾的研究結果的觀察性研究或關係研究。

研究設計/方法/理念

研究人員進行準實驗、來量度六個學術學習能力的變化。這六個學習能力為:(一) 自我效能, (二) 學習的組織能力和注意力,(三) 控制因時間壓力和環境因素而產生的壓力, (四) 大學活動的參與,(五) 情緒方面的滿足、及 (六) 課堂之溝通。這六個學習能力合起來就構成本研究的調查問卷,我們稱之為大學學習效能清單。問卷調查工作分別於研究參與者接受正念認知技巧訓練之前及之後進行。本研究是在厄瓜多爾進行的,而參與者則選自當地一間大學的研究生。

研究結果

研究結果顯示、根據大學學習效能清單的測量,有關的兩個組別均顯示明顯數據差額範圍上的學習能力提昇。

實務方面的啟示

若為研究生提供學習正念認知技巧的機會,並讓他們應用這技巧,他們的學習成果將會得到提昇,這正是透過數據上量度有關的大學學習效能清單指標所顯示的現象。

社會方面的啟示

本研究的結果,就現時的衛生狀況而言特具意義。這是由於大流行病的發生,以及在管理學術互動上大量使用應用技術,參與者之間的身體接觸也不需要了。

研究的原創性/價值

本研究的主要貢獻為、研究結果確認了在大學研究院的學習環境裡,正念認知的培訓是有其實用效果的;研究亦找出了參與者應如何有效地反省思考和學習提昇其軟技能的方法,並了解其重要性,以能增強他們的學習能力,以及更能應對今天不明確的環境。

Details

European Journal of Management and Business Economics, vol. 32 no. 4
Type: Research Article
ISSN: 2444-8451

Keywords

Article
Publication date: 26 January 2023

Mouna Moalla and Saida Dammak

The COVID-19 outbreak and its confinement resulted in an unexpected stock market crash, hence the interest in environmental, social and governance (hereafter, ESG) policies. This…

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Abstract

Purpose

The COVID-19 outbreak and its confinement resulted in an unexpected stock market crash, hence the interest in environmental, social and governance (hereafter, ESG) policies. This paper aims to examine the association between ESG performance and stock market volatility before and after the COVID-19 pandemic.

Design/methodology/approach

This paper examined 500 US companies listed in the S&P 500. The window period volatility refers to March 18, 2020, when the US President signed into law the Families First Coronavirus Response Act. Here, the Thomson Reuters database was used to collect ESG data and daily market information.

Findings

The findings suggest that companies with high ESG performance have lower stock price volatility than companies with poor ESG performance. In other words, strong ESG performance reduces stock price volatility resulting from the COVID-19 shock and promotes resilience and stock price stability.

Practical implications

This research contributes to current debates on emerging pandemics and unexpected risks and highlights the need to invest more in improving corporate sustainability.

Originality/value

The results have substantial implications for managers and investors, as it highlights the relevance of customer and investor loyalty to the durability of ESG stocks.

Details

Journal of Global Responsibility, vol. 14 no. 4
Type: Research Article
ISSN: 2041-2568

Keywords

Article
Publication date: 30 October 2023

Michel Tavares Quinteiro Milcent Assis, Maria Raquel David Pereira Ventura Lucas and Maria Matos Rainho

The purpose of this work is to study the relationships of trust in a local agri-food supply chain in Southern Brazil. In an unsustainable context, where the number of…

Abstract

Purpose

The purpose of this work is to study the relationships of trust in a local agri-food supply chain in Southern Brazil. In an unsustainable context, where the number of mariculturists is decreasing, the authors seek to identify what the factors are and how they contribute to this problem, as well as find solutions aimed at the sustainability of that chain.

Design/methodology/approach

The authors carried out qualitative research with 15 semi-structured interviews that took place in the year 2021. The thematic analysis of the results applied the IRAMUTEQ software and the assessment of the narratives was guided by prior thematic analysis.

Findings

The supply chain under investigation requires better organisation. Communication and interpersonal trust proved important in the relationship between producers and control bodies. The university, as a seed supplier, needs predictability and efficiency to convey inter-organisational trust. Informal relationships are interpersonal and extremely trust-based and inter-organisational trust increases the performance of establishments and promotes the development of innovative structures. Furthermore, in crisis periods interpersonal trust increases.

Practical implications

The results allow policymakers to plan better their actions and build more effective tactics in order to reach sustainable development. This work is also important for stakeholders and managers, as it guides improvements in management, governance and sustainability of agri-food supply chains.

Originality/value

An unprecedented research was done on the studied supply chain, knowing the relationships of trust among them, identifying peculiar partnerships and recognising some constructs and outcomes of trust.

Details

British Food Journal, vol. 125 no. 12
Type: Research Article
ISSN: 0007-070X

Keywords

Article
Publication date: 25 December 2023

Dorine Maurice Mattar, Joy Haddad and Celine Nammour

This study aims to assess the effect of job insecurity, customer incivility and work–life imbalance on Lebanese bank employee workplace well-being (EWW), while investigating the…

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Abstract

Purpose

This study aims to assess the effect of job insecurity, customer incivility and work–life imbalance on Lebanese bank employee workplace well-being (EWW), while investigating the moderating role that positive and negative affect might have.

Design/methodology/approach

Quantitative data was collected from 202 respondents and analyzed using structural equation modeling system through IBM SPSS and AMOS.

Findings

Results revealed that each of the independent variables has a negative, statistically significant effect on Lebanese bank EWW. The positive affect and the negative one are shown to have a moderating effect that lessens and boosts, respectively, these negative effects.

Theoretical implications

The study adds to the literature on EWW while highlighting the high-power distance and collectivist society that the research took place in.

Research limitations/implications

Limitations include the sample size that was hoped to be larger, in addition to the self-reporting issue and what it entails in the data collection process.

Practical implications

The study has many practical implications, including the validation of a questionnaire in a developing Arab country, hence providing a reliable tool for researchers. HR specialists should lean toward applicants with positive affect, ensuring that their workplace is occupied by members with enhanced resilience. Furthermore, employers should support their employees’ professional growth, thus, boosting their employability during turmoil and consequently making them less vulnerable in times of economic recession.

Originality/value

The study’s unique context, depicted in the harsh economic and financial crisis, makes the findings on EWW of a high value.

Abstract

Details

African Journal of Economic and Management Studies, vol. 14 no. 2
Type: Research Article
ISSN: 2040-0705

Open Access
Article
Publication date: 5 December 2023

Carlotta Magri and Pier Luigi Marchini

This study aims to investigate the link between audit quality and in-court debt restructuring. The aim is to understand whether the confirmation of debt restructuring plans is…

Abstract

Purpose

This study aims to investigate the link between audit quality and in-court debt restructuring. The aim is to understand whether the confirmation of debt restructuring plans is affected by audit quality, which, in the light of agency theory, reduces information asymmetries between outsiders (creditors and the court) and insiders (shareholders and managers) of the debtor company.

Design/methodology/approach

A logistic regression is performed to test whether higher audit quality is associated with an increased probability of successfully completing a debt restructuring proceeding (RP). Consistent with the literature, audit quality is assessed ex ante based on auditor size, which is used as a proxy for independence. The analysis considers private Italian companies.

Findings

Audit quality positively affects debt restructuring. Among financially distressed companies, those audited by an audit company are more likely to succeed in RPs than those audited by a single practitioner. There is no evidence of a Big N effect.

Originality/value

This study fills a gap in literature as, in contrast to other financial and governance characteristics, audit quality has never been studied before as a determinant of efficient restructuring. It contributes to the literature on auditing and governance by highlighting the importance of audit quality in complex situations such as RPs, and it expands on debt restructuring literature by considering the importance of the information exchanged during RPs.

Details

Managerial Auditing Journal, vol. 39 no. 1
Type: Research Article
ISSN: 0268-6902

Keywords

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