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Book part
Publication date: 12 February 2024

Lerato Aghimien, Clinton Ohis Aigbavboa and Douglas Aghimien

The workforce management model conceptualised for the effective management of the construction workforce was subjected to expert scrutiny to determine the suitability and…

Abstract

The workforce management model conceptualised for the effective management of the construction workforce was subjected to expert scrutiny to determine the suitability and applicability of the identified practices and their attributed variables to the construction industry. In achieving this, a Delphi approach was adopted using experts from construction organisations in South Africa. These experts comprised workforce management personnel and construction professionals in senior management positions. The data were analysed using appropriate statistical tools such as interquartile deviation, Kendell’s coefficient of concordance, and chi square to determine consensus among these experts. After a two-round Delphi, the seven constructs proposed in the conceptualised workforce management model were adjudged to be important and worthy of adoption by construction organisations seeking to improve workforce management in the current fourth industrial revolution era.

Details

Construction Workforce Management in the Fourth Industrial Revolution Era
Type: Book
ISBN: 978-1-83797-019-3

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Article
Publication date: 17 April 2024

Bahaa Saleeb Agaiby Bakhiet

This study aims to examine the correlation between the readability of financial statements and the likelihood of future stock price crashes in nonfinancial companies listed on the…

Abstract

Purpose

This study aims to examine the correlation between the readability of financial statements and the likelihood of future stock price crashes in nonfinancial companies listed on the Egyptian Stock Exchange. It further explores the possible moderating effect of audit quality on this relationship.

Design/methodology/approach

The study uses ordinary least squares regression, generalized least squares estimation and two-stage least squares methodology to examine and validate the research hypotheses. The sample comprises 107 nonfinancial companies registered on the Egyptian Stock Exchange from 2016 to 2019.

Findings

The results reveal a significant negative association between the readability of financial statements and stock price crash risk. This suggests that companies with more complex financial statements tend to experience higher future crash risks. Additionally, the study identifies audit quality as a significant moderating factor. Higher audit quality, often indicated by engagements with Big-4 audit firms, strengthens the influence of financial statements readability on stock price crash risk. This implies that while high audit quality enhances investor confidence and market stability, it also accentuates the negative consequences of complex financial statements.

Practical implications

The findings of this paper have significant implications for regulators and standard-setting bodies in Egypt. They should consider refining and revising existing standards to emphasize the importance of enhancing the readability of financial reports. Additionally, auditing firms should actively engage in efforts to ensure clearer and more transparent financial reporting. These actions are vital for boosting investor confidence, strengthening Egypt’s capital market and mitigating potential risks associated with information opacity and complexity.

Originality/value

This study represents a pioneering endeavor within the Arab and Egyptian financial environments. To the best of the author’s knowledge, it is the first examination of the association between the readability of financial statements and stock price crash risk in these contexts. Furthermore, it explores factors such as audit quality that may influence this connection.

Details

Journal of Financial Reporting and Accounting, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1985-2517

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Book part
Publication date: 4 April 2024

De-Wai Chou, Pi-Hsia Hung and Lin Lin

This study focuses on listed and over-the-counter (OTC) companies in the Taiwan Stock Exchange. It found that an increase in the ownership proportion of institutional investors…

Abstract

This study focuses on listed and over-the-counter (OTC) companies in the Taiwan Stock Exchange. It found that an increase in the ownership proportion of institutional investors (INs), including foreign investors, investment trusts, and dealers can enhance the informativeness of stock prices. The relationship between these factors follows an inverted U-shaped pattern, indicating that excessively high ownership ratios can actually lead to a decrease in the informativeness of stock prices. Additionally, increasing the ownership proportions of foreign investors and investment trusts can reduce the risk of stock price collapse, while dealers show no significant relationship in this regard. This study also reveals that the technical variable of the price deviation rate is an important explanatory factor for post-collapse returns. It is positively correlated with the magnitude of the price decline after a collapse, meaning that stocks with weaker pre-collapse performance experience larger post-collapse declines. When the data during the 2020 pandemic period are excluded, changes in foreign ownership ratios show a significant positive correlation with postcrash returns in both the long and short term. The significant correlation in the short term may be due to a high proportion of foreign ownership. Any reduction in this could put pressure on stock prices, and retail investors may follow suit and sell-off, using foreign investors as a reference. The significant correlation in the long term might be due to foreign investors themselves possibly also trying to avoid the pressure that their own short-term sell-offs could exert on stock prices. The changes in the ownership ratios of investment trusts and dealers indicate that medium and long-term changes have a significant impact on postcrash returns, while the changes in the major players' ownership show no significant correlation. When data from 2020 are included in the analysis, the significance of all INs decreases.

Details

Advances in Pacific Basin Business, Economics and Finance
Type: Book
ISBN: 978-1-83753-865-2

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Article
Publication date: 20 February 2024

Ankita Kalia

Despite the widespread prevalence of share pledging by Indian promoters, this area remains out of the researchers’ purview. This study aims to bridge this research gap by…

Abstract

Purpose

Despite the widespread prevalence of share pledging by Indian promoters, this area remains out of the researchers’ purview. This study aims to bridge this research gap by delineating the impact of promoter share pledging on future stock price crash risk and financial performance in India.

Design/methodology/approach

A sample of 257 companies listed on the Standard and Poor’s Bombay Stock Exchange 500 (S&P BSE 500) Index has been analysed using panel (fixed-effects) data regression methodology over 2011–2020. Further, alternative proxies for crash risk and financial performance are adopted to ensure that the study’s initial findings are robust. Finally, the instrumental variable with the two-stage least squares (IV-2SLS) method has also been employed to alleviate endogeneity concerns.

Findings

The results suggest a significantly positive relationship between promoter share pledging and future stock price crash risk in India. Conversely, this association is significantly negative for future financial performance. Moreover, the results hold, even after including alternative proxies of stock price crash risk and financial performance and addressing endogeneity concerns.

Originality/value

Owing to the sizeable equity shareholdings of the promoters, share pledging has remained a lucrative source of finance in India. Despite the popularity, the findings of this study question the relevance of share pledging by Indian promoters considering its impact on aggravating future stock price crash risk and deteriorating future financial performance.

Details

Journal of Advances in Management Research, vol. 21 no. 2
Type: Research Article
ISSN: 0972-7981

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Abstract

Details

A Neoliberal Framework for Urban Housing Development in the Global South
Type: Book
ISBN: 978-1-83797-034-6

Article
Publication date: 3 January 2023

Pravin Hindurao Yadav, Sandeep R. Desai and Dillip Kumar Mohanty

The purpose of this paper is to present investigations on the significant influence of the tube material and fin density on fluid elastic instability and vortex shedding in a…

Abstract

Purpose

The purpose of this paper is to present investigations on the significant influence of the tube material and fin density on fluid elastic instability and vortex shedding in a parallel triangular finned tube array subjected to water cross flow.

Design/methodology/approach

The experiment was conducted on finned tube arrays with a fin height of 6 mm and fin density of 3 fins per inch (fpi) and 9 fpi. A dedicated setup has been developed to examine fluid elastic instability and vortex shedding. Nine parallel triangular tube arrays with a pitch to tube diameter ratio of 1.78 were considered. The plain tube arrays, coarse finned tube arrays and fine finned tube arrays each of steel, copper and aluminium materials were tested. Plain tube arrays were tested to compare the results of the finned tube arrays having an effective tube diameter same as that of the plain tube.

Findings

A significant effect of fin density and tube material with a variable mass damping parameter was observed on the instability threshold. In the parallel triangular finned tube array subjected to water cross flow, a delay in the instability threshold was observed with an increase in fin density. For steel and aluminium tube arrays, the natural frequency is 9.77 Hz and 10.38 Hz, which is close to each other, whereas natural frequency of the copper tubes is 7.40 Hz. The Connors’ stability constant K for steel and aluminium tube arrays is 4.78 and 4.87, respectively, whereas it is 5.76 for copper tube arrays, which increases considerably compared to aluminum and steel tube arrays. The existence of vortex shedding is confirmed by comparing experimental results with Owen’s hypothesis and the Strouhal number and Reynolds number relationship.

Originality/value

This paper’s results contribute to understand the effect of tube materials and fin density on fluid elastic instability threshold of finned tube arrays subjected to water cross flow.

Details

World Journal of Engineering, vol. 21 no. 2
Type: Research Article
ISSN: 1708-5284

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Article
Publication date: 14 March 2024

Grant Richardson, Grantley Taylor and Mostafa Hasan

This study examines the importance of income income-shifting arrangements of US multinational corporations (MNCs) on future stock price crash risk.

Abstract

Purpose

This study examines the importance of income income-shifting arrangements of US multinational corporations (MNCs) on future stock price crash risk.

Design/methodology/approach

This study employs a sample of 7,641 corporation-year observations over the 2005–2017 period and uses ordinary least squares regression analysis.

Findings

The authors find that the income-shifting arrangements of MNCs are positively and significantly associated with stock price crash risk after controlling for corporate tax avoidance and other known determinants of stock price crash risk in the regression model. This result is robust to alternative measures of stock price crash risk and income-shifting, and several endogeneity tests. The authors also observe that income-shifting arrangements increase stock price crash risk both directly and indirectly through the information opacity channel. Finally, in cross-sectional analyses, the authors find that the positive association between income-shifting and stock price crash risk is more pronounced for MNCs that use tax haven subsidiaries and have weak corporate governance mechanisms.

Originality/value

The authors provide new empirical evidence that MNCs will likely face significant capital market consequences regarding their income-shifting arrangements.

Details

Journal of Accounting Literature, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0737-4607

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Book part
Publication date: 7 February 2024

Anne M. Hewitt

At the beginning of the 21st century, multiple and diverse social entities, including the public (consumers), private and nonprofit healthcare institutions, government (public…

Abstract

At the beginning of the 21st century, multiple and diverse social entities, including the public (consumers), private and nonprofit healthcare institutions, government (public health) and other industry sectors, began to recognize the limitations of the current fragmented healthcare system paradigm. Primary stakeholders, including employers, insurance companies, and healthcare professional organizations, also voiced dissatisfaction with unacceptable health outcomes and rising costs. Grand challenges and wicked problems threatened the viability of the health sector. American health systems responded with innovations and advances in healthcare delivery frameworks that encouraged shifts from intra- and inter-sector arrangements to multi-sector, lasting relationships that emphasized patient centrality along with long-term commitments to sustainability and accountability. This pathway, leading to a population health approach, also generated the need for transformative business models. The coproduction of health framework, with its emphasis on cross-sector alignments, nontraditional partner relationships, sustainable missions, and accountability capable of yielding return on investments, has emerged as a unique strategy for facing disruptive threats and challenges from nonhealth sector corporations. This chapter presents a coproduction of health framework, goals and criteria, examples of boundary spanning network alliance models, and operational (integrator, convener, aggregator) strategies. A comparison of important organizational science theories, including institutional theory, network/network analysis theory, and resource dependency theory, provides suggestions for future research directions necessary to validate the utility of the coproduction of health framework as a precursor for paradigm change.

Book part
Publication date: 19 March 2024

Catherine Sandoval and Patrick Lanthier

This chapter analyzes the link between the digital divide, infrastructure regulation, and disaster planning and relief through a case study of the flood in San Jose, California…

Abstract

This chapter analyzes the link between the digital divide, infrastructure regulation, and disaster planning and relief through a case study of the flood in San Jose, California triggered by the Anderson dam’s overtopping in February 2017 and an examination of communication failures during the 2018 wildfire in Paradise, California. This chapter theorizes that regulatory decisions construct social and disaster vulnerability. Rooted in the Whole Community approach to disaster planning and relief espoused by the United Nations and the Federal Emergency Management Agency, this chapter calls for leadership to end the digital divide. It highlights the imperative of understanding community information needs and argues for linking strategies to close the digital divide with infrastructure and emergency planning. As the Internet’s integration into society increases, the digital divide diminishes access to societal resources including disaster aid, and exacerbates wildfire, flood, pandemic, and other risks. To mitigate climate change, climate-induced disaster, protect access to social services and the economy, and safeguard democracy, it argues for digital inclusion strategies as a centerpiece of community-centered infrastructure regulation and disaster relief.

Details

Technology vs. Government: The Irresistible Force Meets the Immovable Object
Type: Book
ISBN: 978-1-83867-951-4

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Article
Publication date: 19 April 2024

Jitendra Gaur, Kumkum Bharti and Rahul Bajaj

Allocation of the marketing budget has become increasingly challenging due to the diverse channel exposure to customers. This study aims to enhance global marketing knowledge by…

Abstract

Purpose

Allocation of the marketing budget has become increasingly challenging due to the diverse channel exposure to customers. This study aims to enhance global marketing knowledge by introducing an ensemble attribution model to optimize marketing budget allocation for online marketing channels. As empirical research, this study demonstrates the supremacy of the ensemble model over standalone models.

Design/methodology/approach

The transactional data set for car insurance from an Indian insurance aggregator is used in this empirical study. The data set contains information from more than three million platform visitors. A robust ensemble model is created by combining results from two probabilistic models, namely, the Markov chain model and the Shapley value. These results are compared and validated with heuristic models. Also, the performances of online marketing channels and attribution models are evaluated based on the devices used (i.e. desktop vs mobile).

Findings

Channel importance charts for desktop and mobile devices are analyzed to understand the top contributing online marketing channels. Customer relationship management-emailers and Google cost per click a paid advertising is identified as the top two marketing channels for desktop and mobile channels. The research reveals that ensemble model accuracy is better than the standalone model, that is, the Markov chain model and the Shapley value.

Originality/value

To the best of the authors’ knowledge, the current research is the first of its kind to introduce ensemble modeling for solving attribution problems in online marketing. A comparison with heuristic models using different devices (desktop and mobile) offers insights into the results with heuristic models.

Details

Global Knowledge, Memory and Communication, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9342

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