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1 – 10 of 16Marco Aurélio dos Santos, Luiz Paulo Lopes Fávero, Talles Vianna Brugni and Ricardo Goulart Serra
This study’s goal was to identify how several markets have developed over time and what determinants have influenced this process, based on adaptive markets hypothesis (AMH). In…
Abstract
Purpose
This study’s goal was to identify how several markets have developed over time and what determinants have influenced this process, based on adaptive markets hypothesis (AMH). In this regard, the authors consider that agents are driven by the seeking for abnormal returns to stay “alive” and their environment could somehow modify their decision-making processes, as well as influence the degree of efficiency of the market.
Design/methodology/approach
The authors collected the daily closing-of-the-market index from 50 countries, between 1990 and 2022. The sample includes emerging countries, developed countries and frontier markets. Then, the authors ran multilevel modeling using Hurst exponent as an informational efficiency metric estimated by two different moving windows: 500 and 1,250 observations (approximately 2 and 5 years).
Findings
The results indicate that the efficiency of the markets is not constant over time. The authors also have identified that markets follow a cyclical pattern of efficiency/inefficiency, and they are currently in a period of convergence to efficiency, possibly explained by the increase in computational capacity and speed of the available information to agents. In addition, this study identified that country characteristics are associated with market efficiency, considering institutional factors.
Originality/value
Studies of this nature contribute to the literature, considering the importance of better comprehension of market efficiency dynamics and their determinants, specially observing other theories on the relationship between information and markets (like AMH), which work with other investor assumptions than those used by efficient market hypothesis.
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Ken Farnes, Neville Hurst, Woon-Weng Wong and Sara Wilkinson
The purpose of this study was to explore and critique the benefits and disbenefits that transport orientated development (TOD) brings to neighbourhoods in proximity to public…
Abstract
Purpose
The purpose of this study was to explore and critique the benefits and disbenefits that transport orientated development (TOD) brings to neighbourhoods in proximity to public transport hubs.
Design/methodology/approach
This is an exploratory study that may also be described as a rapid review that aims to provide coverage of the available literature in a systematic process that is simplified to produce information in a timely manner. Due to the relatively small number of available studies from peer-reviewed sources, the variety of methods and data used and the constrained time available for this study, the study did not immediately lend itself to a more thorough systematic literature review.
Findings
The literature shows the discourse on TOD upholds its promise to create a high-density mixed-use walkable neighbourhood supported by transport infrastructure, increasing accessibility, minimising vehicle dependency, reducing traffic congestion, moderating urban sprawl and reducing pollution. There are few articles on the negative aspects of TOD, particularly concerning social exclusion, crime, sustainability and concerns about gentrification of neighbourhoods.
Research limitations/implications
The study did not immediately lend itself to a more thorough systematic literature review due to the relatively small number of available studies, the variety of methods and data used and the constrained time available for this study.
Originality/value
This study allows social investigators, policymakers and developers understand the benefits and disbenefits of TOD including policy implications regarding potential criminogenic factors.
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Luiz Eduardo Gaio and Daniel Henrique Dario Capitani
This study investigates the impacts of the Russia–Ukraine conflict on the cross-correlation between agricultural commodity prices and crude oil prices.
Abstract
Purpose
This study investigates the impacts of the Russia–Ukraine conflict on the cross-correlation between agricultural commodity prices and crude oil prices.
Design/methodology/approach
The authors used MultiFractal Detrended Fluctuation Cross-Correlation Analysis (MF-X-DFA) to explore the correlation behavior before and during conflict. The authors analyzed the price connections between future prices for crude oil and agricultural commodities. Data consists of daily futures price returns for agricultural commodities (Corn, Soybean and Wheat) and Crude Oil (Brent) traded on the Chicago Mercantile Exchange from Aug 3, 2020, to July 29, 2022.
Findings
The results suggest that cross-correlation behavior changed after the conflict. The multifractal behavior was observed in the cross correlations. The Russia–Ukraine conflict caused an increase in the series' fractal strength. The study findings showed that the correlations involving the wheat market were higher and anti-persistent behavior was observed.
Research limitations/implications
The study was limited by the number of observations after the Russia–Ukraine conflict.
Originality/value
This study contributes to the literature that investigates the impact of the Russia–Ukraine conflict on the financial market. As this is a recent event, as far as we know, we did not find another study that investigated cross-correlation in agricultural commodities using multifractal analysis.
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This paper aims to examine whether tax disclosure in Global Reporting Initiative (GRI)-based sustainability reporting mitigates aggressive tax avoidance.
Abstract
Purpose
This paper aims to examine whether tax disclosure in Global Reporting Initiative (GRI)-based sustainability reporting mitigates aggressive tax avoidance.
Design/methodology/approach
This study uses a multiple regression method for 714 nonspecially taxed firms listed on the Indonesia Stock Exchange in 2014–2018.
Findings
The findings demonstrate that disclosing tax payments in GRI-based sustainability reports reduces aggressive tax avoidance. Additional analysis indicates that the number of GRI-based sustainability reports positively affects aggressive tax avoidance. However, disclosing tax payments in multiple GRI-based sustainability reports negatively affects aggressive tax avoidance.
Originality/value
Recent prior studies demonstrate that aggressive tax avoidance does not indicate an organizational culture that devalues corporate social responsibility. This paper argues that firms cannot find the link between tax and corporate social responsibility when tax payments are not incorporated in sustainability reports. GRI considers tax a sustainability issue and seeks to institutionalize this concept by recommending that firms disclose taxes in their sustainability reports. This research analyses whether disclosing taxes in GRI-based sustainability reports may serve as a form of soft law by convincing firms that tax is a sustainability issue, thereby reducing their tax avoidance. This topic has received little attention in previous research.
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Sebastián Javier García-Dastugue, Rogelio García-Contreras, Kimberly Stauss, Thomas Milford and Rudolf Leuschner
Extant literature in supply chain management tends to address a portion of the product flow to make food accessible to clients in need. The authors present a broader view of food…
Abstract
Purpose
Extant literature in supply chain management tends to address a portion of the product flow to make food accessible to clients in need. The authors present a broader view of food insecurity and present nuances relevant to appreciate the complexities of dealing with this social problem.
Design/methodology/approach
The authors conducted an inductive study to reveal the deep meaning of the context as managers of nonprofit organizations (NPO) define and address food insecurity. The focus was on a delimited geographic area for capturing interactions among NPOs which have not been described previously.
Findings
This study describes the role of supply chains collaborating in unexpected ways in the not-for-profit context, leading to interesting insights for the conceptual development of service ecosystems. This is relevant because the solution for the food insecure stems from the orchestration of assistance provided by the many supply chains for social assistance.
Research limitations/implications
The authors introduce two concepts: customer sharing and customer release. Customer sharing enables these supply chains behave like an ecosystem with no focal organization. Customer release is the opposite to customer retention, when the food insecure stops needing assistance.
Social implications
The authors describe the use of customer-centric measures of success such improved health measured. The solution to food insecurity for an individual is likely to be the result of the orchestration of assistance provided by several supply chains.
Originality/value
The authors started asking who the client is and how the NPOs define food insecurity, leading to discussing contrasts between food access and utilization, between hunger relief and nourishment, between assistance and solution of the problem, and between supply chains and ecosystems.
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Md Maruf Hossan Chowdhury, Moira Scerri, Sajib Shahriar and Katrina Skellern
Drawing on a dynamic capability view, this study develops a decision support model that determines the most suitable configuration of strategies and challenges to adopt additive…
Abstract
Purpose
Drawing on a dynamic capability view, this study develops a decision support model that determines the most suitable configuration of strategies and challenges to adopt additive manufacturing (AM) to expedite digital transformation and performance improvement of the surgical and medical device (SMD) supply chain.
Design/methodology/approach
To investigate the research objective, a multi-method and multi-study research design was deployed using quality function deployment and fuzzy set qualitative comparative analysis.
Findings
The study finds that only resilience strategies or negation (i.e. minimisation) of challenges are not enough; instead, a configuration of resilience strategies and negation of challenges is highly significant in enhancing performance.
Practical implications
SMD supply chain decision-makers will find the decision support model presented in this study as beneficial to be resilient against various challenges in the digital transformation of service delivery process.
Originality/value
This study builds new knowledge of the adoption of AM technology in the SMD supply chain. The decision support model developed in this study is unique and highly effective for fostering digital transformation and enhancing SMD supply chain performance.
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Stephen Bok, James Shum and Maria Lee
Consumer choice theory (CCT) and the law of diminishing marginal utility help to explain shoppers that value less and prioritize needs. Additional units provide a marginal return…
Abstract
Purpose
Consumer choice theory (CCT) and the law of diminishing marginal utility help to explain shoppers that value less and prioritize needs. Additional units provide a marginal return on investment. Buying more does not mean equivalent gains for additional money spent. The researchers developed and validated the necessity shopper scale (NSS) to study need-focused shoppers.
Design/methodology/approach
The researchers followed standard psychometric practices to create and validate the NSS. The researchers performed item development, data collection, exploratory analysis, confirmatory factor analysis, and predictive validity analysis using survey data (N = 1,266).
Findings
Discriminant and convergent validity analyses demonstrated that the measure was distinct from existing measures. Predictive validity analysis found necessity shoppers (NS) are more likely to buy one over buy one get one half off (BOGOHO). NS were associated with a higher connection to community/group (CTCG). Higher hyperopia (i.e. disinclination to indulgence) with necessity shopping beliefs heightened this CTCG. A higher CTCG was associated with a greater likelihood to select BOGOHO.
Originality/value
NS (more connected to others) buy more to share with others, while buying just enough for themselves. Social connections are long-term investments involving more people and more needs to fulfill. Brands marketed with communal values and able to enhance social connections are discussed as implications to encourage NS to buy more.
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Wajiha Mohsin Shahzad, Siddenki Mahender Reddy, Ravindu Kahandawa and James Olabode Bamidele Rotimi
The ascendancy of modular offsite construction (MOSC) over traditional construction methods is well known. Despite the known potential of this construction approach, its adoption…
Abstract
Purpose
The ascendancy of modular offsite construction (MOSC) over traditional construction methods is well known. Despite the known potential of this construction approach, its adoption is minimal in New Zealand construction industry. This article investigates the potential benefits of using MOSC for delivery of high-rise buildings in New Zealand, underlying factors responsible for its low uptake and the measures that can facilitate its improved uptake.
Design/methodology/approach
This study utilised a mixed research approach. An empirical questionnaire survey was carried out with New Zealand construction industry professionals with expertise in MOSC. Factor analysis of survey data was carried out using SPSS software. Semi-structured interviews were carried out with subject matter experts to get further insights and expand the survey findings. Interview data were analysed using thematic analysis.
Findings
Study identified benefits of MOSC, thus establishing potential of its uptake for high-rise building construction. Constraining factors were investigated, most pronounced being low level of skills in construction industry to design, manufacture and integrate supply chain of MOSC, high initial investment, high cost of importing modules and negative perception about offsite manufactured buildings. This study also highlighted the enablers to improve uptake of MOSC. These enablers included; loan and mortgage policies to suit MOSC paradigm, building regulations to support OSC industry, increased support from the government and awareness and acceptance of standardised building designs among the clients.
Originality/value
Originality of this paper harps from little to no research carried out to investigate use of MOSC for high-rise buildings in New Zealand context.
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Mohammah Hossein Khasmafkan-Nezam
This study aims to explore how an organization’s ethical climate determines the type and effectiveness of entrepreneurial marketing activities. Also, this study seeks to identify…
Abstract
Purpose
This study aims to explore how an organization’s ethical climate determines the type and effectiveness of entrepreneurial marketing activities. Also, this study seeks to identify the most critical intra-organizational capabilities related to entrepreneurial marketing components and explain their role in the path of ethical climate to entrepreneurial marketing, which means moving from the intra- to the extra-organizational environment.
Design/methodology/approach
Data were collected from managers working in 100 scientific and research companies in Iran through survey questionnaires. Latent variable structural equation modeling was used to test the hypothesized relationships.
Findings
The findings reveal that the linkage between the ethical climate of the organization and entrepreneurial marketing is partially mediated by work engagement. In addition, the mediating role of knowledge transfer was not confirmed. These results imply that the ethical climate of the organization fosters entrepreneurial marketing by enabling employees with absorption, vigor and dedication.
Research limitations/implications
Scientific and research companies in this research are different in size, resources, knowledge management system, organizational structure and products offered to the market; they have different emphasis on innovation and entrepreneurship as well. This issue increases the variety of data and the ability to generalize the results. Still, on the other hand, it reduces the ability to categorize data and increases the amount of outlier data. Future research in a comparative manner between different industries is needed.
Practical implications
This study indicates that an organization’s ethical climate can be a critical predictor of its entrepreneurial marketing as well as effective knowledge transfer and work engagement. In this regard, organizations should pay attention to employee’s perception of the organization’s ethical climate and create an environment that supports productive behaviors, commitment, trust, communication, work dedication, etc., to facilitate knowledge transfer effectively so that the organization can identify market opportunities and turn it into customer-oriented innovation, cocreate value for their customers and increase market share.
Originality/value
In turbulent markets, companies need to introduce quality and reliable products. Still, because the life cycle of products has shortened and the speed of introducing new products has increased, the supply of products will fail if companies are not equipped with new marketing methods. In this regard, the current research will seek to provide a mechanism for organizational capabilities on the road to entrepreneurial marketing by expressing entrepreneurial marketing as an innovative approach and trying to identify factors affecting it.
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Charilaos Mertzanis and Asma Houcine
This study employs firm-level data to evaluate how the knowledge economy impacts the financing constraints of businesses across 106 low- and middle-income nations, focusing on the…
Abstract
Purpose
This study employs firm-level data to evaluate how the knowledge economy impacts the financing constraints of businesses across 106 low- and middle-income nations, focusing on the influence of technological transformation on corporate financing choices.
Design/methodology/approach
The research centers on privately held, unlisted firms and examines the distinct effects of knowledge at both the within-country and between-country levels using a panel dataset. Rigorous sensitivity and endogeneity analyses are conducted to ensure the reliability of the findings.
Findings
The findings indicate that greater levels of the knowledge economy correlate with reduced financing constraints for firms. However, this effect varies depending on the location within a country and across different geographical regions. Firms situated in larger urban centers and more innovative regions reap the most significant benefits from the knowledge economy when seeking external funding. Conversely, firms in smaller cities, rural areas and regions characterized by structural and institutional inefficiencies in knowledge generation experience fewer advantages.
Originality/value
The impact of knowledge exhibits variability not only within and among countries but also between poor and affluent developing nations, as well as between larger and smaller countries. The knowledge effect on firms' access to external finance is influenced by factors such as financial openness and development, educational quality, technological absorption capabilities and agglomeration conditions within each country.
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