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Open Access
Article
Publication date: 7 August 2023

Marco 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.

Details

Revista de Gestão, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1809-2276

Keywords

Article
Publication date: 5 January 2024

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.

Details

Smart and Sustainable Built Environment, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2046-6099

Keywords

Article
Publication date: 15 May 2023

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.

151

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.

Details

Journal of Agribusiness in Developing and Emerging Economies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-0839

Keywords

Article
Publication date: 5 January 2024

Astrid Rudyanto

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.

Details

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

Keywords

Content available
Article
Publication date: 2 April 2024

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.

Details

The International Journal of Logistics Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0957-4093

Keywords

Article
Publication date: 1 March 2023

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.

Details

Journal of Enterprise Information Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1741-0398

Keywords

Article
Publication date: 24 January 2024

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.

Details

Journal of Research in Interactive Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-7122

Keywords

Article
Publication date: 18 April 2023

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.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 28 December 2023

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.

Details

VINE Journal of Information and Knowledge Management Systems, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2059-5891

Keywords

Article
Publication date: 26 February 2024

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.

Details

International Journal of Managerial Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1743-9132

Keywords

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