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Open Access
Article
Publication date: 19 June 2019

Sherine Al-shawarby and Mai El Mossallamy

This paper aims to estimate a New Keynesian small open economy dynamic stochastic general equilibrium (DSGE) model for Egypt using Bayesian techniques and data for the period…

6638

Abstract

Purpose

This paper aims to estimate a New Keynesian small open economy dynamic stochastic general equilibrium (DSGE) model for Egypt using Bayesian techniques and data for the period FY2004/2005:Q1-FY2015/2016:Q4 to assess monetary and fiscal policy interactions and their impact on economic stabilization. Outcomes of monetary and fiscal authority commitment to policy instruments, interest rate, government spending and taxes, are evaluated using Taylor-type and optimal simple rules.

Design/methodology/approach

The study extends the stylized micro-founded small open economy New Keynesian DSGE model, proposed by Lubik and Schorfheide (2007), by explicitly introducing fiscal policy behavior into the model (Fragetta and Kirsanova, 2010 and Çebi, 2011). The model is calibrated using quarterly data for Egypt on key macroeconomic variables during FY2004/2005:Q1-FY2015/2016:Q4; and Bayesian methods are used in estimation.

Findings

The results show that monetary and fiscal policy instruments in Egypt contribute to economic stability through their effects on inflation, output and debt stock. The monetary policy Taylor rule estimates reveal that the Central Bank of Egypt (CBE) attaches significant importance to anti-inflationary policy and (to a lesser extent) to output targeting but responds weakly to nominal exchange rate variations. CBE decisions are significantly influenced by interest rate smoothing. Egyptian fiscal policy has an important role in output and government debt stabilization. Additionally, the fiscal authority chooses pro-cyclical government spending and counter-cyclical tax policies for output stabilization. Again, past values of the fiscal instruments are influential in the evolution of the future fiscal policy-making process.

Originality/value

A few studies have examined the interaction between monetary and fiscal policy in Egypt within a unified framework. The presented paper integrates the monetary and fiscal policy analysis within a unified dynamic general equilibrium open economy rational expectations framework. Without such a framework, it would not be easy to jointly analyze monetary and fiscal transmission mechanisms for output, inflation and debt. Also, it would be neither possible to contrast the outcome of monetary and fiscal authorities commitment to a simple Taylor instrument rule vis-à-vis optimal policy outcomes nor to assess the behavior of monetary and fiscal agents in macroeconomic stability in context of an active/passive policy decisions framework.

Details

Review of Economics and Political Science, vol. 4 no. 2
Type: Research Article
ISSN: 2631-3561

Keywords

Open Access
Article
Publication date: 31 May 2003

Kook-Hyun Chang and Seung Gyeom Lee

In this paper, we try to extend the work of Kim and Chang (2000) and to estimate exponential-affine term structure models for Korean monetary stabilization bond (MSB) using…

7

Abstract

In this paper, we try to extend the work of Kim and Chang (2000) and to estimate exponential-affine term structure models for Korean monetary stabilization bond (MSB) using trading data as an alternative of traditional curve-fitting methodology. We estimate both one factor CIR model and two factor CIR model. Using the daily trading data instead of quoted data of Korean monetary stabitization bond from February 10 1992 to September 8 2000, this paper estimates one factor successfully, which is consistent result with quoted data. But it seems that the result of two factor model from the trading data is not the same as that from the quoted data.

Details

Journal of Derivatives and Quantitative Studies, vol. 11 no. 1
Type: Research Article
ISSN: 2713-6647

Keywords

Open Access
Article
Publication date: 18 June 2021

Gustaf Kastberg Weichselberger and Cristian Lagström

The authors argue that the mainstream scholarly discourse on hybridity and accounting is thus far primarily interested in the use and effects of accounting “in” hybrid…

1867

Abstract

Purpose

The authors argue that the mainstream scholarly discourse on hybridity and accounting is thus far primarily interested in the use and effects of accounting “in” hybrid organizations. Consequently, the literature has to a lesser extent explored how accounting mediates hybrid settings (while also being mediated), and the role of disentanglements in such processes. In hybrid settings, objects are difficult to define, and measures and tools difficult to agree upon. However, the literature on hybrid accounting is inconclusive and indicates that accounting can potentially both stabilize and de-stabilize relations in a hybrid setting. The authors address the research question of how accounting emerges and manifests itself in a process of entangling and disentangling in a heterogeneous emerging hybrid setting.

Design/methodology/approach

The paper is based on a longitudinal qualitative case study of the implementation of social investments, a public sector calculative framework based on the logic of measuring long term and social and economic impact of prevention. Methodologically, the study was guided by actor-network theory. In total, 18 observations and 48 interviews were conducted.

Findings

The observation the authors make in their case study is that much effort was spent on both keeping things apart and tying elements together. What the authors add to the literature is an illumination of how the interplay between entanglements and disentanglements facilitated the design idea of social investments to be enacted as multiple semi-integrated and purified hybridizations. The authors describe different translation points, each representing a specific hybridization where elements were added, recombined and disentangled. Still, the translation points were not completely compartmentalized, but rather semi-integrated where associations were facilitated through active mediation, likeness and productiveness for each other.

Research limitations/implications

One limitation is the single case approach. A second limitation arises from the ANT approach to hybridity.

Practical implications

A practical implication of this paper is that in hybrid settings, the semi-integrated character may be interpreted as a strength because it allows the mobilization of heterogenous actors. However, this may also come at the cost of governability and raises further questions of managerial practices in hybrid settings.

Social implications

The paper suggests the potentially productive role of disentanglements in allowing multiple hybridizations to evolve in hybrid accounting settings.

Originality/value

The paper suggests the potentially productive role of disentanglements in allowing multiple stabilized hybridizations to evolve in hybrid accounting settings.

Details

Accounting, Auditing & Accountability Journal, vol. 35 no. 3
Type: Research Article
ISSN: 0951-3574

Keywords

Open Access
Article
Publication date: 30 November 2008

Seung Hyun Oh

This study interprets various theories of volume of stock markets in a unified DOint of view and classifies the theories into 4 categories: risk premium theory, adverse selection…

15

Abstract

This study interprets various theories of volume of stock markets in a unified DOint of view and classifies the theories into 4 categories: risk premium theory, adverse selection theory, privately informed trading theory, and market stabilization theory. Risk premium theory and adverse selection theory predict that net buying amount of an uninformed trader and future stock return have negative correlation and that ttle correlation approaches-I as current return volatility increases. Privately informed trading theory and market stabilization theory predict that net buying amount of an Informed trader and future stock return have posltive correlation and that the correlation approaches 1 as current return volatility increases.

Utilizing these two predictions. this study suggests a method of measuring informational advantage of a group of investors. To measure degrees of Informational advantage of some investor groups in Korean stock market. the method is applied to 7 groups of investors: foreign investors, individual investors. institutional investors, securities companies, Insurers. ITCs, and banks. The result shows that ITCs have the highest degree of informational advant~ age while Individual investors have the lowest level of informational advantage. The fact that this result is consistent with prior researches means that the method suggested in this study has enough empirical validity. This method may be used in a performance evaluation process for a specific fund or a portfolio manager.

Details

Journal of Derivatives and Quantitative Studies, vol. 16 no. 2
Type: Research Article
ISSN: 2713-6647

Keywords

Open Access
Article
Publication date: 25 April 2024

Mika Luhtala, Olga Welinder and Elina Vikstedt

This study aims to investigate the adoption of the United Nations’ Sustainable Development Goals (SDGs) as the new performance perspective in cities. It also aims to understand…

Abstract

Purpose

This study aims to investigate the adoption of the United Nations’ Sustainable Development Goals (SDGs) as the new performance perspective in cities. It also aims to understand how accounting for SDGs begins in city administrations by following Power’s (2015) fourfold development schema composed of policy object formation, object elaboration, activity orchestration and practice stabilization.

Design/methodology/approach

Focusing on a network of cities coordinated by the Finnish local government association, we analyzed the six largest cities in Finland employing a holistic multiple case study strategy. Our data consisted of Voluntary Local Reviews (VLRs), city strategies, budget plans, financial statements, as well as results of participant observations and semi-structured interviews with key individuals involved in accounting for SDGs.

Findings

We unveiled the SDG framework as an interpretive scheme through which cities glocalized sustainable development as a novel, simultaneously global and local, performance object. Integration of the new accounts in city management is necessary for these accounts to take life in steering the actions. By creating meaningful alignment and the ability to impact managerial practices, SDGs and VLRs have the potential to influence local actions. Our results indicate further institutionalization progress of sustainability as a performance object through SDG-focused work.

Originality/value

While prior research has focused mainly on general factors influencing the integration of the sustainability agenda, this study provides a novel perspective by capturing the process and demonstrating empirically how new accounts on SDGs are introduced and deployed in the strategic planning and management of local governments.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1096-3367

Keywords

Open Access
Article
Publication date: 26 March 2024

Guilherme de Araujo Grigoli, Maurilio Ferreira Da Silva Júnior and Diego Pereira Pedra

This study aims to identify the main challenges to achieving humanitarian logistics in the context of United Nations peace missions in sub-Saharan Africa and to present…

Abstract

Purpose

This study aims to identify the main challenges to achieving humanitarian logistics in the context of United Nations peace missions in sub-Saharan Africa and to present suggestions for overcoming the logistical gaps encountered.

Design/methodology/approach

The methodological approach of the work focuses on the comparative case study of the United Nations Mission in South Sudan, the United Nations Multidimensional Integrated Stabilisation Mission in the Central African Republic and The United Nations Organisation Stabilisation Mission in the Democratic Republic of Congo from 2014 to 2021. The approach combined a systematic literature review with the authors’ empirical experience as participant observers in each mission, combining theory and practice.

Findings

As a result, six common challenges were identified for carrying out humanitarian logistics in the three peace missions. Each challenge revealed a logistical gap for which an appropriate solution was suggested based on the best practices found in the case study of each mission.

Research limitations/implications

This paper presents limitations when addressing the logistical analysis based on only three countries under the UN mission as a case study, as well as conceiving that certain flaws in the system, in the observed period, are already in the process of correction with the adoption of the 2016–2021 strategy by the UN Global Logistic Cluster. The authors suggest that further studies can be carried out by expanding the number of cases or using countries where other bodies (AU, NATO or EU) work.

Originality/value

To the best of the authors’ knowledge, this study is the first comparative case study of humanitarian logistics on the three principal missions of the UN conducted by academics and practitioners.

Details

Journal of Humanitarian Logistics and Supply Chain Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2042-6747

Keywords

Open Access
Article
Publication date: 15 July 2021

Julhete Mignoni, Bruno Anicet Bittencourt, Silvio Bitencourt da Silva and Aurora Carneiro Zen

This paper investigates the roles and activities of the orchestrators of innovation networks constituted within cities. In this sense, the authors expected to contribute for…

1186

Abstract

Purpose

This paper investigates the roles and activities of the orchestrators of innovation networks constituted within cities. In this sense, the authors expected to contribute for research related to the roles and activities of the orchestrators of innovation networks constituted in the scope of cities given the large number and diversity of complex and multiple dimensions social actors (Castells & Borja, 1996; Reypens, Lievens & Blazevic, 2019).

Design/methodology/approach

The authors conducted an exploratory research with a single case study in depth. The case chosen for the paper is the case of Pacto Alegre. The case selection criterion was the relevance of the Pacto Alegre Case in the construction of an innovation network in the city of Porto Alegre, Rio Grande do Sul, Brazil. The Pacto Alegre network was proposed by the Alliance for Innovation (composed of the three main Universities in the city: UFRGS, PUCRS and UNISINOS) and by the Municipality of Porto Alegre. In addition to these actors, the network counts on financial and development institutions as sponsors, with media partners, with design partners, with an advisory board (composed of five professionals considered references in different themes) and composed by more than 100 companies, associations and institutions from different areas (Pacto Alegre, 2019). Data were collected from 09/20/2020 to 11/30/2020 through in-depth interviews, documentary research and non-participant observation.

Findings

In this research, the authors highlighted the city as a community that involves and integrates various actors, such as citizens and companies, to collaborative innovation activities. For this, they proposed a framework on innovation networks and network orchestration. In this direction, seven dimensions of the “orchestration of innovation networks” were assumed as a result of the combination of previous studies by Dhanaraj and Parke (2006), Hurmelinna-Laukkanen et al. (2011) and da Silva and Bitencourt (2019). In the sequence, different roles of orchestrators associated with the literature were adopted based on the work by Pikkarainen et al. (2017) and Nielsen and Gausdal (2017).

Research limitations/implications

The authors’ results advance in relation to other fields by promoting the expansion of the “orchestration of innovation networks” model with the combination of distinct elements from the literature in a coherent whole (agenda setting, mobilization, network stabilization, creation and transfer of knowledge, innovation appropriability, coordination and co-creation) and in the validation of its applicability in the context of the innovation network studied. In addition, when relating different roles of orchestrators to the seven dimensions studied, it was realized that there is no linear and objective relationship between the dimensions and roles of the orchestrator, as in each dimension there may be more than one role being played in the orchestration.

Practical implications

Therefore, the findings suggest two theoretical contributions. First, the authors identified a role not discussed in the literature, here called the communicator. In the case analysis, the authors observed the communicator role through functions performed by a media partner of the innovation network and by a group of civil society engaged in the city's causes. Second, the authors indicated a new dimension of orchestration related to the management of communication in the innovation network and its externalities such as p. ex. civil and organized society, characteristic of an innovation network set up within a city.

Originality/value

Although several studies have proposed advances in the understanding of the orchestration of innovation networks (Dhanaraj & Parkhe, 2006; Ritala, Armila & Blomqvist, 2009; Nambisan & Sawhney, 2011; Hurmelinna-Laukkanen et al., 2011), the discussion on the topic is still a black box (Nilsen & Gausdal, 2017). More specifically, the authors identified a gap in the literature about the role and activities of actors in the city level. Few studies connected the regional dimension with the roles and activities of the orchestrators (Hurmelinna-Laukkanen et al., 2011; Pikkarainen et al., 2017), raising several challenges and opportunities to be considered by academics and managers.

Details

Innovation & Management Review, vol. 20 no. 3
Type: Research Article
ISSN: 2515-8961

Keywords

Open Access
Article
Publication date: 17 February 2021

Cecilia Gullberg and Noomi Weinryb

The purpose of this paper is to explore the role of inscriptions on social media in enabling action at a distance. The purpose is addressed by investigating how and by what…

2145

Abstract

Purpose

The purpose of this paper is to explore the role of inscriptions on social media in enabling action at a distance. The purpose is addressed by investigating how and by what mechanisms inscriptions on social media can shape action at a distance.

Design/methodology/approach

We conduct a qualitative analysis of the Facebook page of a crowdfunded grassroots initiative, where the founders and their stakeholders interact.

Findings

We identify two mechanisms by which inscriptions on social media can shape action at a distance: a flow of micro-level inscriptions and a joint stabilisation of inscriptions. By signalling achievement, creating a sense of closeness and highlighting powerful explanations, these mechanisms guide what action at a distance is taken and by whom. Action thereby becomes a mutual exercise between centres of calculation and distant peripheries, highly intertwined with the stability of inscriptions. The two mechanisms indicate the importance of the boundaryless nature of the inscriptions in shaping action at a distance.

Originality/value

Our findings indicate new forms of inscriptions and, consequently, of novel conditions for action at a distance. These insights add to the literature on Web 2.0 and accounting, which has mainly revolved around the relationship between centres of calculation and distant peripheries that act upon each other rather than around the inscriptions that enable such action.

Details

Accounting, Auditing & Accountability Journal, vol. 34 no. 9
Type: Research Article
ISSN: 0951-3574

Keywords

Content available
Article
Publication date: 13 March 2007

45

Abstract

Details

Industrial Robot: An International Journal, vol. 34 no. 2
Type: Research Article
ISSN: 0143-991X

Open Access
Article
Publication date: 23 February 2024

Elin K. Funck, Kirsi-Mari Kallio and Tomi J. Kallio

This paper aims to investigate the process by which performative technologies (PTs), in this case accreditation work in a business school, take form and how humans engage in…

Abstract

Purpose

This paper aims to investigate the process by which performative technologies (PTs), in this case accreditation work in a business school, take form and how humans engage in making up such practices. It studies how academics come to accept and even identify with the quantitative representations of themselves in a translation process.

Design/methodology/approach

The research involved a longitudinal, self-ethnographic case study that followed the accreditation process of one Nordic business school from 2015 to 2021.

Findings

The findings show how the PT pushed for different engagements in various phases of the translation process. Early in the translation process, the PT promoted engagement because of self-realization and the ability for academics to proactively influence the prospective competitive milieu. However, as academic qualities became fabricated into numbers, the PT was able to request compliance, but also to induce self-reflection and self-discipline by forcing academics to compare themselves to set qualities and measures.

Originality/value

The paper advances the field by linking five phases of the translation process, problematization, fabrication, materialization, commensuration and stabilization, to a discussion of why academics come to accept and identify with the quantitative representations of themselves. The results highlight that the materialization phase appears to be the critical point at which calculative practices become persuasive and start influencing academics’ thoughts and actions.

Details

Journal of Accounting & Organizational Change, vol. 20 no. 6
Type: Research Article
ISSN: 1832-5912

Keywords

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