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Article
Publication date: 9 October 2023

John Kwaku Amoh, Abdallah Abdul-Mumuni, Emmanuel Kofi Penney, Paul Muda and Leticia Ayarna-Gagakuma

Debt sustainability and the growing level of external debt in sub-Saharan African (SSA) continue to be significant research priorities. This study aims to examine the…

Abstract

Purpose

Debt sustainability and the growing level of external debt in sub-Saharan African (SSA) continue to be significant research priorities. This study aims to examine the corruption-external debt nexus in SSA economies and whether different levels of corruption better explain this relationship.

Design/methodology/approach

The panel quantile regression approach was applied to account for the heterogeneous effect of the exogenous variables on external debts. The research covers 30 years of panel data from 30 selected SSA economies for the period spanning from 2000 to 2021.

Findings

The empirical findings of the regression analysis demonstrate the heterogeneous influences of the exogenous variables on external debt. While there was a positive impact of foreign direct investment (FDI) inflows on external debts, corruption established a negative relationship with external debt from the 10th to the 80th quantile. The findings showed a positive link between trade openness and external debt, while they also showed a negative relationship between gross fixed capital formation and external debt.

Research limitations/implications

It is implied that corruption “sands the wheels” of external debts in the selected SSA countries. Therefore, the amount of external debt that flows into SSA is inversely correlated with corruption activity.

Originality/value

To the best of the authors’ knowledge, this study is one of the first to use panel quantile regression to analyze how corruption affects debt dynamics across different levels of debt, allowing for a more nuanced understanding of how corruption affects debt dynamics. Based on the findings of this study, SSA countries should create enabling environments to attract FDI inflows and to continue to drive domestic revenue mobilization and capital so as to be less dependent on external debts.

Details

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

Keywords

Article
Publication date: 13 June 2022

Amir Saadaoui and Olfa Ben Salah

For the dimensions of the corporate social responsibility (CSR) score, only environmental practices have shown a significant negative link with banking performance. However, the…

Abstract

Purpose

For the dimensions of the corporate social responsibility (CSR) score, only environmental practices have shown a significant negative link with banking performance. However, the social and government dimensions did not have a significant effect on this variable. The authors also find that the financial performance of banks depends primarily on the financial stability of the bank, in particular, on capital adequacy and on the management of liquidity risk.

Design/methodology/approach

The recurrence of banking and financial crises has revealed the complexity and vulnerability of the financial and banking system. In this article, the authors empirically study the impact of CSR on the financial performance of banks as well as the individual effect of each dimension of CSR (social, governance and environmental) with particular attention to the moderating role of financial stability. Based on a sample of 23 French banks over the period from 2010 to 2018, the results indicate a negative and significant effect of CSR measured by the overall CSR score on the performance of banks.

Findings

This study provides insight into the essential role of financial stability in moderating the benefits of CSR disclosure while virtually no previous study examines this effect.

Originality/value

This article offers several contributions to the literature. First, this study builds on previous research by providing a more comprehensive view and evidence on the relationship between CSR and bank performance. The authors affirm and show that the financial stability of the bank moderates the effect of CSR on the performance of banks. The link between social responsibility and performance demonstrated in this study is more complicated than the direct–direct relationship as widely assumed in the previous literature.

Details

EuroMed Journal of Business, vol. 18 no. 4
Type: Research Article
ISSN: 1450-2194

Keywords

Article
Publication date: 16 April 2024

Misal Ijaz, Naila Sadiq and Syeda Fizza Abbas

This paper aims to investigate the impact of retrenchment strategy on firm performance in the context of Pakistani firms while considering the moderating role of chief executive…

Abstract

Purpose

This paper aims to investigate the impact of retrenchment strategy on firm performance in the context of Pakistani firms while considering the moderating role of chief executive officer (CEO) power. By examining the influence of CEO duality and CEO share ownership on the relationship, this study contributes to strategic management and corporate governance knowledge within the Pakistani business environment.

Design/methodology/approach

A quantitative approach was used to analyze the relationship using data from annual financial statements. The sample consisted of 76 companies from the KSE-100 index from the year 2015 to 2020. Random effects regression models were used, along with hierarchical regression to explore the moderating effect of CEO power.

Findings

The findings demonstrate that the implementation of a retrenchment strategy positively impacts firm performance in Pakistani firms. The study also reveals that CEO power plays a crucial role in strengthening the relationship between retrenchment strategy and firm performance. Moreover, the study highlights the importance of considering the temporal sequence, size and age of firms when examining the impact of CEO power and retrenchment strategy on firm performance.

Research limitations/implications

The study enhances the understanding of the contingent nature of retrenchment strategies and the influence of CEO power in the Pakistani business context. Practically, the research contributes to strategic management and corporate governance dynamics, facilitating the development of strategies that enhance firm performance and sustainability in Pakistan.

Originality/value

This research provides original insights by specifically focusing on the Pakistani context and analyzing the interplay between retrenchment strategy, CEO power and firm performance. The study adds to the limited literature on the relationship between retrenchment and performance in the Pakistani business environment. Additionally, it highlights the significance of CEO power as a critical factor in determining the success of retrenchment.

Details

International Journal of Law and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1754-243X

Keywords

Article
Publication date: 14 June 2023

Opeoluwa Adeniyi Adeosun, Mosab I. Tabash and Suhaib Anagreh

This study examines the influence of the global geopolitical risk (GPR) on the relationship between oil prices and domestic food prices under the augmented Phillips curve…

Abstract

Purpose

This study examines the influence of the global geopolitical risk (GPR) on the relationship between oil prices and domestic food prices under the augmented Phillips curve framework.

Design/methodology/approach

Using monthly data on Nigeria from January 1995 to December 2021, the authors accommodate symmetry and asymmetry by adopting the linear and nonlinear autoregressive distributed lag, linear and nonlinear Granger causality tests.

Findings

The study establishes the positive and significant effects of both oil prices and GPR on food prices in the long and short run, though with a small magnitude in the short run. The asymmetric model shows that, while oil price shocks (positive and negative) exert a positive influence on food prices in the long-run, the effects of oil price shocks differ when accounting for GPR in the short-run. The coefficients of the interactive term, being the moderator of GPR between oil-food prices, are positively significant across models, suggesting that they jointly influence food prices when assuming linearity. The nonlinear model shows that the positive and negative components of interactive terms exert a positively significant influence on food prices, even though food prices tend to be more reactive to positive oil price shocks. The robustness checks show a unidirectional causal flow from oil prices and GPR to food prices under the linear and nonlinear models.

Originality/value

The authors examine the moderating effect of the newly developed global GPR index of Caldara and Iacoviello (2022) on the oil–food inflation relationship in Nigeria by applying the symmetric and asymmetric approaches.

Details

African Journal of Economic and Management Studies, vol. 14 no. 4
Type: Research Article
ISSN: 2040-0705

Keywords

Open Access
Article
Publication date: 10 January 2023

Danladi Chiroma Husaini, Orish Ebere Orisakwe, David Ditaba Mphuthi, Sani Maaji Garba, Cecilia Nwadiuto Obasi and Innocent Ejiofor Nwachukwu

This review aims to provide synoptic documentation on acclaimed anecdotal plant-based remedies used by Latin America and the Caribbean (LAC) communities to manage COVID-19. The…

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Abstract

Purpose

This review aims to provide synoptic documentation on acclaimed anecdotal plant-based remedies used by Latin America and the Caribbean (LAC) communities to manage COVID-19. The theoretical approaches that form the basis for using the anecdotally claimed phytotherapies were reviewed against current scientific evidence.

Design/methodology/approach

In this paper plant-based remedies for managing COVID-19 were searched on social and print media to identify testimonies of people from different communities in LAC countries. Information was extracted, evaluated and reviewed against current scientific evidence based on a literature search from databases such as Journal Storage (JSTOR), Excerpta Medica Database (EMBASE), SpringerLink, Scopus, ScienceDirect, PubMed, Google Scholar and Medline to explore the scientific basis for anecdotal claims.

Findings

A total of 23 medicinal plants belonging to 15 families were identified as phytotherapies used in managing COVID-19 in LAC communities.

Originality/value

The plant-based remedies contained valuable phytochemicals scientifically reported for their anti-inflammatory, antiviral, antioxidant and anticancer effects. Anecdotal information helps researchers investigate disease patterns, management and new drug discoveries. The identified acclaimed plant-based remedies are potential candidates for pharmacological evaluations for possible drug discovery for future pandemics.

Details

Arab Gulf Journal of Scientific Research, vol. 41 no. 4
Type: Research Article
ISSN: 1985-9899

Keywords

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