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The upsurge of Chinese and Indian outward foreign direct investment (FDI) raises an unanswered question about locational determinants of direct investment from the two countries. Using an unbalanced bilateral FDI database, we find that Chinese and Indian FDI are attracted to countries with large market size, low GDP growth, high volumes of imports from China or India, and low corporate tax rates. We also find important differences between China and India. While Chinese FDI is drawn to countries with open economic regimes, depreciated host currencies, better institutional environments, and English speaking status, none of these factors are important for Indian FDI. Chinese FDI is also deterred by geographic distance and OCED membership. However, neither of these has any impact on Indian FDI.

This paper aims to investigate the determinants of choice between private and public debt for British and German listed companies.

The paper is based on three strands of theories: the “liquidation and renegotiation” hypothesis; the “moral hazard and adverse selection” hypothesis; the “flotation cost” hypothesis. The regression analysis was adopted to test these hypotheses. The specific econometric method used for panel data is generalised method of moments (GMM).

The evidence records a few similarities in debt‐mix structure of German and UK firms but it also detects some important differences. Therefore, the paper concludes that the relation between dependent and explanatory variables is country‐dependent. This can be attributed to the differences in corporate governance mechanisms and institutional features of the countries.

The limitation mainly has come from data unavailability for public debt. Future research could be to extend the number of countries to have a better idea for the impact of institutional factors on corporate debt‐mix.

The findings confirm that the debt ownership decision of listed firms is not only the result of their own characteristics but also the outcome of legal and financial environment and corporate governance traditions in which they operate. The way managers decide about the type of debt financing is not universal. Furthermore, the factors such as liquidation and renegotiation, moral hazard and adverse selection, flotation costs are found to be significantly relevant while deciding the mix of corporate debt.

This study offers a unique comparison of the evidence from a bank‐based economy (Germany) and a market‐based economy (UK) that should have direct implications on the choice between bank debt and public debt. Firms with a long‐run debt ownership target attain it through an adjustment process. The authors are not aware of any other study on debt ownership that controls for endogeneity using the GMM technique.

This study aims to investigate the effects of board characteristics on the cost of debt for non-financial companies in the Turkish capital markets.

Using a sample of 211 non-financial companies listed on Borsa Istanbul, this study examines how chairperson gender and board characteristics affect the cost of debt by using panel data analysis over the period of 2016–2020. A system generalized method of moments model is also applied to test the endogeneity issue.

The findings show that the presence of female chairperson and female directors on board reduces the cost of debt and the perceptions of default risk by fund providers, while board independence and board size do not have a significant impact on the cost of debt. The results provide insightful information for companies and policymakers. Companies can alter board composition through gender diversity, while policymakers can introduce new policies in encouraging the presence of female directors on boards.

This study primarily enriches the literature on the effect of board diversity on debt financing cost in a leading emerging market, enabling companies in emerging markets to better mitigate agency costs and finance their investment through effective board composition. Second, it provides evidence that financial institutions consider companies with chairwomen and women directors on the boards less risky and charge them less for debt financing than they do for companies with man chairperson. Finally, the results support policymakers to take actions to increase female presence on board.

Unsafe food can lead to various foodborne diseases and even death, especially among children. This paper aims to assess food safety knowledge and changes in practices and concerns among adults ≥ 18 years during the coronavirus disease 2019 (COVID-19) pandemic.

A cross-sectional, web-based survey was conducted among 325 adults living in Northern India. Demographic data and information regarding their knowledge, practices and concerns about various food safety issues were collected to see if there were any changes due to the COVID-19 pandemic.

The results showed that the participants had slightly higher than average knowledge and good food safety practices with mean scores of 9.75 ± 2.23 and 24.87 ± 2.28, respectively. Contracting COVID-19 from food and food packaging materials was of high concern for more than 70% of the participants. Majority (> 80%) of them reported an increase in the frequency of handwashing. About 16% of the participants used chemical disinfectants for washing fruits and vegetables. An increase (57.5%) in the frequency of food label reading was also noted during the pandemic. Freshness and the general quality of food items (49.5%), safety of food (30.8%) and cost (18.2%) were the top drivers that influenced the purchase decision.

This study highlighted the need to send out clear messages on safe food handling practices and keeping the tempo up for sustaining good hygienic practices. This will help in reducing the risk of foodborne diseases.

This article aims to clarify the mechanism by which herding behavior influences perceived market efficiency, investment decisions and the performance of individual investors actively trading on the Pakistan Stock Exchange (PSX).

The deductive approach was used in this study, as the research is based on the theoretical framework of behavioral finance. A questionnaire and cross-sectional design were employed to collect data from the sample of 309 investors trading on the PSX. The collected data were analyzed using SPSS and AMOS graphics software. Hypotheses were tested using structural equation modeling (SEM).

The article provides further empirical insights into the relationship between herding behavior and investment management and perceived market efficiency. The results suggest that herding behavior has a markedly negative influence on perceived market efficiency and investment performance, while positively influencing the decision-making of individual investors.

The current study is the first to focus on links between herding behavior and investment management activities and perceived market efficiency. This article enhances the understanding of the role that herding behavior plays in investment management and, more importantly, it improves understanding of behavioral aspects and their influence on investment decision-making in an emerging market. It also adds to the literature in the area of behavioral finance, specifically the role of herding behavior in investment management; this field is in its initial stage, even in developed countries, while little work has been done in developing countries.

The purpose of this study is to use waste materials in construction to create sustainable practices. This will contribute towards circular economy which has gained momentum in recent years throughout the world.

Waste materials cause enormous environmental problems that can have an adverse effect on the environment. Recycling of waste consists an important part of the circular economy. Therefore, researchers have been investigating the economic use of a variety of waste materials for reducing their environmental impact. One potential usage is in road subbase fill materials where wastes can be incorporated in large quantities. In this study, the engineering properties of road subbase fill materials (i.e. kaolinite) mixed with Granite Waste (GW), coal Fly Ash (FA) and lime are investigated. Kaolinite was replaced with 15% lime and FA, whereas the GW replacement varied from 10% to 20%. Testing included strength of the various soil compositions subjected to different curing times. Also the microstructural analyses and phase changes of samples were conducted using scanning electron microscopy and x-ray diffraction techniques, respectively. The results obtained indicate that GW can be incorporated in road base materials to improve its bearing capacity. The mixture consisting of 15% lime, 15% FA, 20% GW and 50% kaolinite resulted in maximum dry unit weight and optimum moisture content. Using GW exhibited a noticeable increase in the California Bearing Ratio of more than eight times at 1 day and 28 days curing regime compared with the control sample.

This study shows that GW and FA can be used for road subbase materials and can contribute toward a better and cleaner environment.

In this study, the engineering properties of road subbase fill materials (i.e. kaolinite) mixed with GW, coal FA and lime are investigated. This are value added in circular economy.

This paper aims to examine the relationships between Islamic work ethic, deviant organizational behaviours and person-organization fit within the context of the hotels.

A survey was conducted with the participation of 243 employees working at five-star hotels operating in Marmaris, which is one of the popular destinations that attracts the most tourists in Turkey. The data obtained from the research is tested by implementing confirmatory factor analysis and structural equation modelling.

The results revealed that Islamic work ethic was negatively related to deviant organizational behaviour but positively related to person organization fit. On the other hand, no significant relationship was found between deviant organizational behaviour and person-organization fit.

This study presents to hotels practical and theoretical applications about employee behaviours and management practices.

This paper aims to investigate the impact of oil price shocks on the Turkish sovereign yield curve factors.

To extract the latent factors (level, slope and curvature) of the Turkish sovereign yield curve, we estimate conventional Nelson and Siegel (1987) model with nonlinear least squares. Then, we decompose oil price shocks into supply, demand and risk shocks using structural VAR (structural VAR) models. After this separation, we apply Engle (2002) dynamic conditional correlation GARCH (DCC-GARCH (1,1)) method to investigate time-varying co-movements between yield curve factors and oil price shocks. Finally, using the LP (local projections) proposed by Jorda (2005), we estimate the impulse-response functions to examine the impact of different oil price shocks on yield curve factors.

Our results demonstrate that the various oil price shocks influence the yield curve factors quite differently. A supply shock leads to a statistically significant increase in the level factor. This result shows that elevated oil prices due to supply disruptions are interpreted as a signal of a surge in inflation expectations since the cost channel prevails. Besides, unanticipated demand shocks have a positive impact on the slope factor as a result of the central bank policy response for offsetting the elevated inflation expectations. Finally, a risk shock is associated with a decrease in the curvature factor indicating that risk shocks influence the medium-term bonds due to the deflationary pressure resulting from depressed economic conditions.

Our results provide new insights to understand the driving forces of yield curve movements induced by various oil shocks to formulate appropriate policy responses.

The study contributes to the literature by two main dimensions. First, the recent oil shock identification scheme of Ready (2018) is modified using the “geopolitical oil price risk index” to capture the changes in the risk perceptions of oil markets driven by geopolitical tensions such as terrorism and conflicts and sanctions. The modified identification scheme attributes more power to demand shocks in explaining the variation of the oil price compared to that of the baseline scheme. Second, it provides recent evidence that distinguishes the impact of oil demand and supply shocks on Turkey's yield curve.

The purpose of this paper is to investigate the factors affecting capital structure decisions of Istanbul Stock Exchange (ISE) lodging companies.

A model based on the trade‐off and pecking order theories is specified and implications of both theories are empirically tested. The model is estimated using a dynamic panel data approach for five ISE companies for the period of 1994‐2006.

The findings suggest that effective tax rates, tangibility of assets, and return on assets are related negatively to the debt ratio, while free cash flow, non‐debt tax shields, growth opportunities, net commercial credit position, and firm size do not appear to be related to the debt ratio. Although the findings partially support the pecking order theory, neither the trade‐off nor the pecking order theory exactly seem to explain the capital structure of Turkish lodging companies.

The data used in this paper are limited to five companies traded in the ISE, since the data on other companies are not available. A more detailed analysis would use data for other companies in the industry.

The findings of the study clearly demonstrate the importance of capital structure decisions for financial sources.

Although the capital structure theory is extensively examined in the finance literature, there are fewer studies covering the tourism industry, particularly Turkey. The paper establishes the determinants of the capital structure of Turkish lodging companies. The research findings should help managers to make optimal capital structure decisions.