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Article
Publication date: 2 May 2024

Gerasimos G. Rigatos

To provide high torques needed to move a robot’s links, electric actuators are followed by a transmission system with a high transmission rate. For instance, gear ratios of 100:1…

Abstract

Purpose

To provide high torques needed to move a robot’s links, electric actuators are followed by a transmission system with a high transmission rate. For instance, gear ratios of 100:1 are often used in the joints of a robotic manipulator. This results into an actuator with large mechanical impedance (also known as nonback-drivable actuator). This in turn generates high contact forces when collision of the robotic mechanism occur and can cause humans’ injury. Another disadvantage of electric actuators is that they can exhibit overheating when constant torques have to be provided. Comparing to electric actuators, pneumatic actuators have promising properties for robotic applications, due to their low weight, simple mechanical design, low cost and good power-to-weight ratio. Electropneumatically actuated robots usually have better friction properties. Moreover, because of low mechanical impedance, pneumatic robots can provide moderate interaction forces which is important for robotic surgery and rehabilitation tasks. Pneumatic actuators are also well suited for exoskeleton robots. Actuation in exoskeletons should have a fast and accurate response. While electric motors come against high mechanical impedance and the risk of causing injuries, pneumatic actuators exhibit forces and torques which stay within moderate variation ranges. Besides, unlike direct current electric motors, pneumatic actuators have an improved weight-to-power ratio and avoid overheating problems.

Design/methodology/approach

The aim of this paper is to analyze a nonlinear optimal control method for electropneumatically actuated robots. A two-link robotic exoskeleton with electropneumatic actuators is considered as a case study. The associated nonlinear and multivariable state-space model is formulated and its differential flatness properties are proven. The dynamic model of the electropneumatic robot is linearized at each sampling instance with the use of first-order Taylor series expansion and through the computation of the associated Jacobian matrices. Within each sampling period, the time-varying linearization point is defined by the present value of the robot’s state vector and by the last sampled value of the control inputs vector. An H-infinity controller is designed for the linearized model of the robot aiming at solving the related optimal control problem under model uncertainties and external perturbations. An algebraic Riccati equation is solved at each time-step of the control method to obtain the stabilizing feedback gains of the H-infinity controller. Through Lyapunov stability analysis, it is proven that the robot’s control scheme satisfies the H-infinity tracking performance conditions which indicate the robustness properties of the control method. Moreover, global asymptotic stability is proven for the control loop. The method achieves fast convergence of the robot’s state variables to the associated reference trajectories, and despite strong nonlinearities in the robot’s dynamics, it keeps moderate the variations of the control inputs.

Findings

In this paper, a novel solution has been proposed for the nonlinear optimal control problem of robotic exoskeletons with electropneumatic actuators. As a case study, the dynamic model of a two-link lower-limb robotic exoskeleton with electropneumatic actuators has been considered. The dynamic model of this robotic system undergoes first approximate linearization at each iteration of the control algorithm around a temporary operating point. Within each sampling period, this linearization point is defined by the present value of the robot’s state vector and by the last sampled value of the control inputs vector. The linearization process relies on first-order Taylor series expansion and on the computation of the associated Jacobian matrices. The modeling error which is due to the truncation of higher-order terms from the Taylor series is considered to be a perturbation which is asymptotically compensated by the robustness of the control algorithm. To stabilize the dynamics of the electropneumatically actuated robot and to achieve precise tracking of reference setpoints, an H-infinity (optimal) feedback controller is designed. Actually, the proposed H-infinity controller for the model of the two-link electropneumatically actuated exoskeleton achieves the solution of the associated optimal control problem under model uncertainty and external disturbances. This controller implements a min-max differential game taking place between: (i) the control inputs which try to minimize a cost function which comprises a quadratic term of the state vector’s tracking error and (ii) the model uncertainty and perturbation inputs which try to maximize this cost function. To select the stabilizing feedback gains of this H-infinity controller, an algebraic Riccati equation is being repetitively solved at each time-step of the control method. The global stability properties of the H-infinity control scheme are proven through Lyapunov analysis.

Research limitations/implications

Pneumatic actuators are characterized by high nonlinearities which are due to air compressibility, thermodynamics and valves behavior and thus pneumatic robots require elaborated nonlinear control schemes to ensure their fast and precise positioning. Among the control methods which have been applied to pneumatic robots, one can distinguish differential geometric approaches (Lie algebra-based control, differential flatness theory-based control, nonlinear model predictive control [NMPC], sliding-mode control, backstepping control and multiple models-based fuzzy control). Treating nonlinearities and fault tolerance issues in the control problem of robotic manipulators with electropneumatic actuators has been a nontrivial task.

Practical implications

The novelty of the proposed control method is outlined as follows: preceding results on the use of H-infinity control to nonlinear dynamical systems were limited to the case of affine-in-the-input systems with drift-only dynamics. These results considered that the control inputs gain matrix is not dependent on the values of the system’s state vector. Moreover, in these approaches the linearization was performed around points of the desirable trajectory, whereas in the present paper’s control method the linearization points are related with the value of the state vector at each sampling instance as well as with the last sampled value of the control inputs vector. The Riccati equation which has been proposed for computing the feedback gains of the controller is novel, so is the presented global stability proof through Lyapunov analysis. This paper’s scientific contribution is summarized as follows: (i) the presented nonlinear optimal control method has improved or equally satisfactory performance when compared against other nonlinear control schemes that one can consider for the dynamic model of robots with electropneumatic actuators (such as Lie algebra-based control, differential flatness theory-based control, nonlinear model-based predictive control, sliding-mode control and backstepping control), (ii) it achieves fast and accurate tracking of all reference setpoints, (iii) despite strong nonlinearities in the dynamic model of the robot, it keeps moderate the variations of the control inputs and (iv) unlike the aforementioned alternative control approaches, this paper’s method is the only one that achieves solution of the optimal control problem for electropneumatic robots.

Social implications

The use of electropneumatic actuation in robots exhibits certain advantages. These can be the improved weight-to-power ratio, the lower mechanical impedance and the avoidance of overheating. At the same time, precise positioning and accurate execution of tasks by electropneumatic robots requires the application of elaborated nonlinear control methods. In this paper, a new nonlinear optimal control method has been developed for electropneumatically actuated robots and has been specifically applied to the dynamic model of a two-link robotic exoskeleton. The benefit from using this paper’s results in industrial and biomedical applications is apparent.

Originality/value

A comparison of the proposed nonlinear optimal (H-infinity) control method against other linear and nonlinear control schemes for electropneumatically actuated robots shows the following: (1) Unlike global linearization-based control approaches, such as Lie algebra-based control and differential flatness theory-based control, the optimal control approach does not rely on complicated transformations (diffeomorphisms) of the system’s state variables. Besides, the computed control inputs are applied directly on the initial nonlinear model of the electropneumatic robot and not on its linearized equivalent. The inverse transformations which are met in global linearization-based control are avoided and consequently one does not come against the related singularity problems. (2) Unlike model predictive control (MPC) and NMPC, the proposed control method is of proven global stability. It is known that MPC is a linear control approach that if applied to the nonlinear dynamics of the electropneumatic robot, the stability of the control loop will be lost. Besides, in NMPC the convergence of its iterative search for an optimum depends on initialization and parameter values selection and consequently the global stability of this control method cannot be always assured. (3) Unlike sliding-mode control and backstepping control, the proposed optimal control method does not require the state-space description of the system to be found in a specific form. About sliding-mode control, it is known that when the controlled system is not found in the input-output linearized form the definition of the sliding surface can be an intuitive procedure. About backstepping control, it is known that it cannot be directly applied to a dynamical system if the related state-space model is not found in the triangular (backstepping integral) form. (4) Unlike PID control, the proposed nonlinear optimal control method is of proven global stability, the selection of the controller’s parameters does not rely on a heuristic tuning procedure, and the stability of the control loop is assured in the case of changes of operating points. (5) Unlike multiple local models-based control, the nonlinear optimal control method uses only one linearization point and needs the solution of only one Riccati equation so as to compute the stabilizing feedback gains of the controller. Consequently, in terms of computation load the proposed control method for the electropneumatic actuator’s dynamics is much more efficient.

Details

Robotic Intelligence and Automation, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2754-6969

Keywords

Article
Publication date: 18 January 2024

Maha Khemakhem Jardak, Marwa Sallemi and Salah Ben Hamad

Remuneration policies may differ from country to country, and their effect on bank stability could be due to the legal framework. Therefore, this study aims to investigate how the…

Abstract

Purpose

Remuneration policies may differ from country to country, and their effect on bank stability could be due to the legal framework. Therefore, this study aims to investigate how the legal system impacts the relationship between CEO compensation and bank stability across countries.

Design/methodology/approach

To test the study hypotheses, the authors use panel data of 74 banks operating in ten OECD countries during the period 2009–2016 and apply the generalized moments method regression model to better remediate the endogeneity problem.

Findings

The findings confirm that a country’s banking regulations significantly affect its bank stability. Common law countries have less bank stability than civil law countries. This result can be interpreted by the fact that, in common-law countries, banks’ CEO are strongly protected by the law, so they allocate a large part of bank assets to risky loans to improve their variable remuneration.

Practical implications

The research can help policymakers understand bank stability in one country. Any legal reform would require prior knowledge of how risk-taking may arise in executive compensation.

Originality/value

The contribution is to explain the controversial effect of executive compensation on bank stability in the framework of legal theory. The authors argue that regulators should monitor compensation structures and that the country’s legal origin of law shapes the CEO compensation structure and is a determinant of bank stability. To the best of the authors’ knowledge, there are no studies exploring this field. So, this study tries to shed more light on the dark side of CEOs’ behavior when undertaking risky projects to maximize their remuneration.

Details

Corporate Governance: The International Journal of Business in Society, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 6 October 2023

Thowayeb Hassan and Mahmoud Ibraheam Saleh

The study aims to investigate how attribution theory in the context of pricing strategies can help tourism destinations recover from the negative impacts of the COVID-19 pandemic.

Abstract

Purpose

The study aims to investigate how attribution theory in the context of pricing strategies can help tourism destinations recover from the negative impacts of the COVID-19 pandemic.

Design/methodology/approach

The study adopted a qualitative research design using semi-structured interviews to address the lack of research in this area. Interview participants included tourists and tourism customers. The interview responses were then analyzed using “Nvivo” qualitative data analysis software to identify critical themes regarding applying attribution theory to pricing strategies.

Findings

The findings revealed that tourists prefer bundled and hedonic pricing strategies that integrate the service providers' pricing strategies' locus of control, stability and controllability. Tourists do not favor dual pricing strategies unless the reasons for price controllability or stability are justified. Tourists also prefer the controllable pay-what-you-want pricing strategy. Although tourists accept dynamic pricing, certain conditions related to price locus, stability and controllability must be met.

Practical implications

The research shows tourists prefer pricing strategies that give them control and flexibility, like bundled packages and pay-what-you-want models. Service providers should integrate pricing strategies that transparent costs and justify price fluctuations. While dynamic pricing is accepted if necessitated by external factors, tourists are wary of unnecessary price changes. Providers can build trust and satisfaction by explaining pricing rationale and offering controllable options like bundles.

Originality/value

The study contributes to the theory by applying attribution theory to the context of pricing strategies in tourism. It also provides innovative recommendations for tourism managers on how to use pricing strategies after the COVID-19 pandemic. The findings offer new insights that extend beyond previous research.

Details

Journal of Hospitality and Tourism Insights, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9792

Keywords

Article
Publication date: 6 March 2023

Ismail Khan and Iftikhar Khan

This paper aims to examine the influence of financial inclusion (FI) on poverty, income inequality and financial stability from the perspective of public good (PG) theory in…

Abstract

Purpose

This paper aims to examine the influence of financial inclusion (FI) on poverty, income inequality and financial stability from the perspective of public good (PG) theory in developing countries.

Design/methodology/approach

This study applies the fixed effects model (FEM), pooled ordinary least square (OLS) regression and generalized method of moment (GMM) across panal data of 69 developing countries from 2002 to 2020 inclusive.

Findings

Multiple regression analyses show that FI reduces poverty and income inequality while improving financial stability. Secondary enrolment ratio, GDP per capita, and trade openness reduce poverty and income inequality. However, a higher inflation rate increases poverty and income inequality while reducing financial stability. Finally, age dependency ratio and population do not affect poverty, income inequality or financial stability.

Research limitations/implications

The regulators and policymakers in developing countries should raise the level of formal FI by expanding the size of the formal financial sector and improving the access of the large unbanked population to financial products/services. Improving FI enables the unbanked population to take over productive activities and ease consumption, which in turn complementing economic growth.

Social implications

The increase in FI enables the developing countries to include the financially excluded population through formal financial products and services, which improve financial stability and eradicate poverty and income inequality in society. Thus, the FI enhances the social welfare of society.

Originality/value

This is the first study that examines the impact of FI poverty, income inequality and financial stability in the context of developing countries. This study contributes to the theoretical implications of the PG theory by examining the influence of FI on poverty, income inequality and financial stability in the context of developing countries.

Details

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

Keywords

Article
Publication date: 27 February 2024

Muhammad Iqbal, Lukmanul Hakim and Muhammad Abdul Aziz

This study aims to analyze the factors that influenced the stability of Islamic banks in Asia.

Abstract

Purpose

This study aims to analyze the factors that influenced the stability of Islamic banks in Asia.

Design/methodology/approach

The panel data consisted of 16 Asian countries operating Islamic banks from 2010 to 2019. The data were analyzed through dynamic panel regression using Arellano–Bond generalized method of moments (GMM).

Findings

This study provides novel insights into the factors influencing the stability of Islamic banks in Asia. The findings suggest that past financial stability, liquidity risk, loan risk, inflation, gross domestic product, government effectiveness, rule of law and control of corruption are all significant contributors to Islamic bank stability. Notably, political stability, voice and accountability and regulatory quality did not show a significant association.

Research limitations/implications

The current study’s focus was solely on Islamic bank stability in Asian countries, which leaves room for further exploration. Future research could benefit from expanding the scope to encompass all nations with active Islamic banking institutions. In addition, incorporating a broader range of macroeconomic variables, such as exchange rates, interest rates, profit-sharing equivalents and investment rates, could provide deeper insights into the factors influencing Islamic bank stability across diverse contexts.

Practical implications

This study has significant practical implications for policymakers, bank managers and regulatory authorities seeking to enhance the stability of Islamic banks in Asia. By implementing robust risk management frameworks, adopting prudent regulatory policies, and actively fostering economic growth, policymakers can create an environment conducive to the sustained development and prosperity of Islamic banking institutions. Notably, promoting good governance practices and instituting effective crisis prevention measures can further bolster the resilience of the Islamic banking sector, enabling it to play a more dynamic role in contributing to the overall development and welfare of Asian societies.

Social implications

The findings of this study carry significant social implications, highlighting the need for governments in Asian countries to prioritize public policies that promote good governance and ethical practices within the banking industry. Such policies, coupled with efforts to attract foreign investments and foster a stable and transparent banking sector, have the potential to generate far-reaching positive effects on society. Through economic growth stimulated by a robust Islamic banking sector, Asian countries can create new employment opportunities, improve living standards and ultimately enhance the overall well-being of their citizens.

Originality/value

This study contributes to the ongoing discourse on Islamic banking stability by offering novel insights and expanding the empirical knowledge base in this field. The dual application of robust regression methodologies – namely, GMM dynamic panel data models – presents a unique analytical framework for investigating the complex interplay between diverse variables and Islamic bank stability. This methodological choice fosters deeper understanding of the dynamic relationships at play, advancing our understanding of how specific factors influence the sector's resilience and performance. In addition, the study uses rigorous empirical techniques and engages with the extant literature to provide fresh perspectives and nuanced interpretations of the findings, further solidifying its contribution to the field's originality and richness.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 26 February 2024

Ayman Issa, Ahmad Sahyouni and Miroslav Mateev

This paper aims to examine how the diversity of educational levels within bank boards influences the efficiency and stability of banks operating in the Middle East and North…

Abstract

Purpose

This paper aims to examine how the diversity of educational levels within bank boards influences the efficiency and stability of banks operating in the Middle East and North Africa (MENA) region. Unlike previous studies, this analysis also investigates the role of board gender diversity in moderating the relationship between board educational level diversity and bank efficiency and financial stability in MENA.

Design/methodology/approach

In this study, a sample of 77 banks in the MENA region spanning the years 2011 to 2018 is used. The relationship between the presence of highly educated directors on the board, bank efficiency and stability is assessed using the ordinary least squares method. Additionally, the authors use the Generalized Method of Moments technique to correct endogeneity problem.

Findings

This study establishes a positive association between the presence of directors with advanced educational backgrounds on bank boards and bank efficiency and stability. Furthermore, the inclusion of women on the board strengthens this relationship.

Practical implications

These findings have important implications for policymakers and regulators in the MENA region, suggesting that promoting diversity policies that encourage the participation of highly educated directors on bank boards can contribute to enhanced efficiency and financial stability. Policymakers may also consider implementing quotas or guidelines to improve gender diversity in board appointments, thereby fostering bank performance in the region.

Originality/value

This study stands out for its innovation and distinctiveness, as it delves into the connection between board educational level diversity and bank efficiency in the MENA region. Notably, it surpasses previous research by investigating the moderating role of board gender diversity, thus offering valuable insights into the complex interplay between these two facets of board diversity. This contribution enriches the existing literature by providing novel perspectives on board composition dynamics and its influence on bank efficiency and stability.

Details

Corporate Governance: The International Journal of Business in Society, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 9 November 2023

Thowayeb Hassan and Mahmoud Ibraheam Saleh

This study aims to highlight the importance of using attribution theory in metaverse tourism research. The study addresses the lack of clarity regarding the attribution theory’s…

Abstract

Purpose

This study aims to highlight the importance of using attribution theory in metaverse tourism research. The study addresses the lack of clarity regarding the attribution theory’s dimensions (locus, stability, controllability) potential application in the metaverse tourism context.

Design/methodology/approach

This study uses a comprehensive exploration of the research gap by searching top-tier journals in Scopus and Web of Science databases about the relevant literature to analyze relevant data to provide a foundation for future transformative research. The study examines the relationship between attribution theory and metaverse tourism and explores how attribution theory can inform the understanding of tourists’ judgments and actions in the metaverse context.

Findings

The study shows that attribution theory has the potential to significantly improve the understanding of metaverse tourism by illuminating tourists’ decision-making processes and the factors contributing to those decisions. The study highlights the importance of applying attribution theory to generate more impactful and reliable implications for the tourism industry.

Originality/value

This study is transformative because it provides a foundational understanding of the application of attribution theory in metaverse tourism research. The study is significant because it sheds light on an underexplored area where the theoretical framework is necessary to inform and guide tourism technology research. The study’s originality lies in its contribution to tourism by identifying room for improvement in metaverse tourism research and highlighting the potential benefits of using attribution theory.

设计/方法论/方法

本研究通过在Scopus和Web of Science数据库中搜索相关文献的顶级期刊, 对研究空白进行了全面探索, 以分析相关数据, 为未来的变革性研究提供基础。本研究考察了归因理论与元宇宙旅游之间的关系, 并探讨了归因理论如何在元宇宙背景下为理解游客的判断和行为提供信息。

目的

本研究强调了归因理论在元宇宙旅游研究中的重要性。该研究解决了归因理论在元宇宙旅游背景下的潜在应用维度(轨迹、稳定性、可控性)缺乏明确性的问题。

研究结果

研究表明, 归因理论有可能通过阐明游客的决策过程和促成这些决策的因素, 显著提高对元宇宙旅游的理解。该研究强调了应用归因理论对旅游业产生更具影响力和可靠性的影响的重要性。

创意/价值

本研究具有变革性, 因为它为归因理论在元宇宙旅游研究中的应用提供了基础性的理解。这项研究意义重大, 因为它揭示了一个研究不足的领域。在此领域, 理论框架是为旅游技术研究提供信息和指导所必需的。本研究的独创性在于它对旅游业的贡献, 它确定了元宇宙旅游研究的改进空间, 并强调了利用归因理论的潜在好处。

Diseño/metodología/enfoque

Este estudio se basa en una exploración exhaustiva de la brecha de investigación mediante la búsqueda de revistas de primer nivel en las bases de datos Scopus y Web of Science sobre la literatura relevante para analizar los datos relevantes con el fin de proporcionar una base para futuras investigaciones transformadoras. El estudio examina la relación entre la teoría de la atribución y el metaverso turístico y explora cómo la teoría de la atribución puede facilitar la comprensión de las evaluaciones y acciones de los turistas en el contexto metaverso.

Propósito

Este estudio pone de relieve la importancia de utilizar la teoría de la atribución en la investigación turística en metaverso. El estudio aborda la falta de claridad sobre las dimensiones de la teoría de la atribución (lugar de causalidad, estabilidad y, controlabilidad) y su posible aplicación en el contexto del turismo en metaverso.

Conclusiones

El estudio muestra que la teoría de la atribución tiene el potencial de mejorar de forma significativa la comprensión del metaverso turístico al esclarecer los procesos de toma de decisiones de los turistas y los factores que contribuyen a dichas decisiones. El estudio destaca la importancia de aplicar la teoría de la atribución para generar implicaciones más impactantes y fiables para la industria turística.

Originalidad/valor

Este estudio es transformador porque proporciona una comprensión fundacional de la aplicación de la teoría de la atribución en la investigación del metaverso turístico. El estudio es significativo porque arroja luz sobre un ámbito poco explorado cuyo marco teórico es necesario para informar y orientar la investigación sobre tecnología turística. La originalidad del estudio radica en su contribución al turismo al identificar las posibilidades de mejora en la investigación del metaverso turístico y destacar los beneficios potenciales de la utilización de la teoría de la atribución.

Article
Publication date: 30 April 2024

Jianyu Zhao and Cheng Fu

This paper aims to investigate the antecedents of recombinant innovation from the perspective of ego–network dynamics, and further disentangle whether ego–network stability or…

Abstract

Purpose

This paper aims to investigate the antecedents of recombinant innovation from the perspective of ego–network dynamics, and further disentangle whether ego–network stability or ego–network expansion is more conducive to recombinant innovation under heterogeneous knowledge base.

Design/methodology/approach

This paper uses 1,801 patent data in China’s biotechnology field as a sample and adopts fixed effects regression model to examine the effects of ego–network dynamics on recombinant innovation and further uses the Wald tests to discern which ego–network dynamic is more conducive to recombinant innovation under heterogeneous knowledge base.

Findings

The empirical results indicate that ego–network dynamics have a positive impact on recombinant innovation. Specifically, for firms with high knowledge breadth and high knowledge depth as well as high knowledge breadth and low knowledge depth, ego–network stability is more conducive to recombinant innovation. By contrast, for firms with low knowledge breadth and high knowledge depth, recombinant innovation benefits more from ego–network expansion. As for firms with low knowledge breadth and low knowledge depth, both ego–network stability and ego–network expansion can promote recombinant innovation, while the effects are not significant.

Practical implications

This research may enlighten managers to choose suitable ego–network dynamics strategies for recombinant innovation based on their knowledge base.

Originality/value

This research not only contributes to the literature on recombinant innovation by revealing the impact of different ego–network dynamics on recombinant innovation but also contributes to network dynamics theory by exploring whether ego–network stability or ego–network expansion is more conducive to recombinant innovation under a heterogeneous knowledge base.

Details

Journal of Knowledge Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1367-3270

Keywords

Article
Publication date: 27 November 2023

Min Guo, Naiding Yang, Jingbei Wang, Hui Liu and Fawad Sharif Sayed Muhammad

Previous research has analyzed the consequence of network stability; however, little is known about how partner type diversity influence network stability in R&D network. Based on…

Abstract

Purpose

Previous research has analyzed the consequence of network stability; however, little is known about how partner type diversity influence network stability in R&D network. Based on knowledge-based view and social network theory, the purpose of this paper is to unravel the internal mechanisms between partner type diversity and network stability through the mediating role of knowledge recombination in R&D network.

Design/methodology/approach

The authors collected an unbalanced panel patent data set from information communication technology industry for the period 1994–2016. Then, the authors tested the different dimensions of partner type variety and its relevance in the R&D network and the mediating role of knowledge recombination through adopting the multiple linear regression.

Findings

Results indicate an inverted U-shaped relationship between partner type diversity (variety and relevance) and network stability, whereas knowledge recombination partially mediate these relationships.

Originality/value

From the perspective of R&D networks, this paper explores that there are the under-researched phenomena the antecedent of network stability through nodal attributes (i.e. partner type variety and partner type relevance). Moreover, this paper empirically examined the mediating role of knowledge recombination in the partner type diversity–network stability relationships. The novel perspective allows focal firm to recognize importance of nodal attributes, which are critical to fully excavate the potential capabilities of cooperating partners in R&D network.

Details

Journal of Knowledge Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1367-3270

Keywords

Article
Publication date: 11 April 2024

Miroslav Mateev, Ahmad Sahyouni, Syed Moudud-Ul-Huq and Kiran Nair

This study investigates the role of market concentration and efficiency in banking system stability during the COVID-19 pandemic. We empirically test the hypothesis that market…

Abstract

Purpose

This study investigates the role of market concentration and efficiency in banking system stability during the COVID-19 pandemic. We empirically test the hypothesis that market concentration and efficiency are significant determinants of bank performance and stability during the time of crises, using a sample of 575 banks in 20 countries in the Middle East and North Africa (MENA).

Design/methodology/approach

The main sources of bank data are the BankScope and BankFocus (Bureau van Dijk) databases, World Bank development indicators, and official websites of banks in MENA countries. This study combined descriptive and analytical approaches. We utilize a panel dataset and adopt panel data econometric techniques such as fixed/random effects and the Generalized Method of Moments (GMM) estimator.

Findings

The results reveal that market concentration negatively affects bank profitability, whereas improved efficiency further enhances bank performance and contributes to the banking sector’s overall stability. Furthermore, our analysis indicates that during the COVID-19 pandemic, bank stability strongly depended on the level of market concentration, but not on bank efficiency. However, more efficient banks are more profitable and stable if the banking institutions are Islamic. Similarly, Islamic banks with the same level of efficiency demonstrated better overall financial performance during the pandemic than their conventional peers did.

Research limitations/implications

The main limitation is related to the period of COVID-19 pandemic that was covered in this paper (2020–2021). Therefore, further investigation of the COVID-19 effects on bank profitability and risk will require an extended period of the pandemic crisis, including 2022.

Practical implications

This study provides information that will enable bank managers and policymakers in MENA countries to assess the growing impact of market concentration and efficiency on the banking sector stability. It also helps them in formulating suitable strategies to mitigate the adverse consequences of the COVID-19 pandemic. Our recommendations are useful guides for policymakers and regulators in countries where Islamic and conventional banking systems co-exist and compete, based on different business models and risk management practices.

Originality/value

The authors contribute to the banking stability literature by investigating the role of market concentration and efficiency as the main determinants of bank performance and stability during the COVID-19 pandemic. This study is the first to analyze banking sector stability in the MENA region, using both individual and risk-adjusted aggregated performance measures.

Details

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

Keywords

1 – 10 of over 2000