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Public debt forecasts represent a key policy issue. Many methodologies have been employed to predict debt sustainability, including dynamic stochastic general equilibrium models, the stock flow consistent method, the structural vector autoregressive model and, more recently, the neuro-fuzzy method. Despite their widespread application in the empirical literature, all of these approaches exhibit shortcomings that limit their utility. The present research adopts a different approach to public debt forecasts, that is, the random forest, an ensemble of machine learning.

Using quarterly observations over the period 2000–2021, the present research tests the reliability of the random forest technique for forecasting the Italian public debt.

The results show the large predictive power of this method to forecast debt-to-GDP fluctuations, with no need to model the underlying structure of the economy.

Compared to other methodologies, the random forest method has a predictive capacity that is granted by the algorithm itself. The use of repeated learning, training and validation stages provides well-defined parameters that are not conditional to strong theoretical restrictions This allows to overcome the shortcomings arising from the traditional techniques which are generally adopted in the empirical literature to forecast public debt.

The purpose of this study is to investigate the role of ethical obligation and environmental concern in young consumers’ green purchase behaviour using Ajzen’s (1991) theory of planned behaviour as underpinning theoretical model.

Data collected from 253 college students of a major higher education institution in Northern India were analysed by using structural equation modelling and moderated mediation analysis in AMOS 22.0 and SPSS 20.0.

Investigating why environmental concern does not significantly translate into green purchase intention, the study demonstrates that the effect of environmental concern was mediated through attitude and ethical obligation. In addition, the study also found that the effect of environmental concern on attitude was positively moderated by ethical obligation. Moreover, subjective norms were found to exhibit no direct effect on green purchase intention; rather, this effect was indirect and mediated through attitude and perceived behavioural control. The results of moderated mediation analysis further demonstrated that the indirect effect of subjective norms on green purchase intention through attitude was found conditional on the values of perceived behavioural control.

The study offers a valuable contribution by signifying the moderating role of ethical obligation in green purchase behaviour. It also contributes to the existing knowledge by assessing the conditional indirect effect of subjective norms on green purchase intention which is rarely examined in the literature.

This study aims to investigate the extent to which the Indonesian conditional cash transfer (CCT), known as the Family Hope Program (FHP), impacts the probability of children engaging in labour activities.

This study utilizes data from the Indonesian Family Life Survey in 2014, focussing on periods following the implementation of the FHP. To estimate the impact of FHP on child labour in Indonesia, the authors employ a propensity score matching strategy to balance the characteristics observed between the participant and non-participant groups.

The estimates show that FHP has no statistical impact on child labour across all matching techniques. This implies that receiving the CCT does not always help poor households decrease the probability of stopping their children from participating in labour activities.

The conditions applied to the beneficiaries, which only require children to attend school without requiring them to stop working, may not effectively address the issue of child labour. The current structure and design of the FHP need to be re-evaluated and improved to effectively combat child labour.

Despite numerous studies examining the impact of CCT on child labour which remains inconclusive in Indonesia, this study contributes to the existing literature by considering children participating in labour activities across all types of work without focussing on specific education levels or regions.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-07-2023-0580

How do informal lending institutions affect entrepreneurship? This paper aims to investigates the role of formal and informal credit market institutions in the decision to become an entrepreneur over the life cycle.

The author developed a dynamic Roy model in which a decision to become an entrepreneur depends on the access to formal and informal credit markets, nonpecuniary benefits of entrepreneurship, career-specific entry costs, prior work experience, education, unobserved abilities and other labor market opportunities (salaried employment and nonemployment). Using detailed Russian panel microdata (the Russia longitudinal monitoring survey) and estimating a structural model of labor market decisions and borrowing options, the author assesses the impact of the development of informal and formal credit institutions.

The expansion of traditional (formal) credit market institutions positively impacts all workers’ categories, reduces the share of entrepreneurs who borrow from informal sources and incentivizes low-type entrepreneurs to switch to salaried employment. The development of the informal credit market reduces the percentage of high-type entrepreneurs who borrow from formal sources. In the case of default, a higher value of the social network or higher costs of losing social ties demotivate low-type entrepreneurs to borrow from informal sources. The author highlights the practical implications of estimates by evaluating policies designed to promote entrepreneurship, such as subsidies and accessibility regulations in credit market institutions.

This study contributes to the literature in several ways. Unlike other studies that focus on individual characteristics in the selection for self-employment [Humphries (2017), Hincapíe (2020), Gendron-Carrier (2021), Dillon and Stanton (2017)], the paper models labor and borrowing decisions jointly. Previous studies discuss transitions between salaried employment and self-employment, taking into account entrepreneurial earnings, wealth, education and age, but do not consider the availability of financial institutions as a driving factor for the selection into self-employment. To the best of the author’s knowledge, this paper shows for the first time that the transition from salaried employment to self-employment is standard and consistent with changes in access to financial institutions. Another feature of this study is incorporating both types of credit markets – formal and informal. The survey by the European Central Bank on the Access to Finance of Enterprises (2018) shows 18% of small and medium enterprise in EU pointed funds from family or friends. Therefore, the exclusion from consideration of informal credit markets may distort the understanding of the role of the accessibility of credit markets.

The purpose of this study is to examine factors influencing consumers’ intention to purchase Halal cosmetics through the lens of theory of consumption values (TCV).

This study employed a quantitative research methodology, collecting data from 185 respondents through an online questionnaire. The participants, selected via purposive sampling, were all current purchasers of cosmetics. The data were analyzed using partial least square structural equation modeling (PLS-SEM) with the assistance of IBM SPSS and SmartPLS software.

This research reveals that emotional value is the most substantial value predictor, followed by epistemic value, conditional value and functional value. Further, the moderation analysis shows that the effect of conditional value is strengthened when the consumer are from a higher social class.

This study reveals that consumption values with context-specific attributes directly impact consumer purchase intentions towards Halal cosmetics, while social class acts as a significant catalyst. This offers a fresh perspective that mitigates the traditional misconceptions about Halal cosmetics among Malaysians, highlighting the complexity and resilience of consumer adoption in this innovative sector.

This study aims to investigate how work overload, resulting from full-time telecommuting, aggravates telecommuting accounting professionals’ burnout via the mediation of work exhaustion. Further, the study also tests the conditional moderation effect of psychological capital on the association between work exhaustion and burnout, proposing that it becomes least severe for employees who perceive a high level of psychological capital.

The research was conducted using a sample of 322 employees from Big Four accounting firms, and the measurement model was established using confirmatory factor analysis. Hypotheses were tested using structural equation modeling and model-14 in the PROCESS Macro for SPSS.

The results confirmed that work overload directly and indirectly (via the mediation of work exhaustion) aggravates employees’ burnout. However, psychological capital negatively conditions the mediating effect of work exhaustion on burnout such that the aggravating effect of work overload on burnout, via the mediation of work exhaustion, gets least severe (insignificant) for those employees who perceive a high level of psychological capital.

The study contributes to the literature on work overload-induced “work exhaustion burnout” association and offers suggestions for implications.

Research related to workplace accommodation requests for employees with mental illness is scarce, though evidence suggests that these individuals often fail to request accommodations even when needed. The authors' research study aimed to address these shortcomings by (1) assessing employees' knowledge of Americans with Disabilities Act (ADA) laws and how this knowledge influences employees' perceived need for and requests of accommodations; (2) examining the relationship between employees' perceived need for accommodations and employees' workplace outcomes and (3) examining the relationship between perceived need for accommodations and employees' actual accommodation requests, as well as how stigma influences this relationship.

The authors used two survey studies to investigate their research questions. Study 1 participants were recruited through Amazon's MTurk, and Study 2 participants were recruited through support groups for individuals diagnosed with mood disorders (i.e. depression and bipolar disorder).

The authors found significant gaps in both subjective and objective ADA-related knowledge among participants in their sample. The authors' Study 1 results also revealed an interaction between the perceived need for accommodations and accommodation requests in predicting job satisfaction and turnover intentions. When employees needed accommodations but did not request them, it resulted in worsened workplace outcomes. In Study 2, the authors aimed to identify barriers to requesting accommodations. The authors found that the relationship between perceived need for accommodations and actual accommodation requests was moderated by both public and self-stigma, thereby showing that stigma can impede individuals from requesting needed accommodations at work.

The authors' study sheds light on a population that has been relatively understudied in the workplace accommodations literature, namely those with mental illness. The authors first identify the perceived need for accommodations as an important factor in making accommodations requests at work, as prior work has failed to differentiate how the need for accommodations can vary across individuals. Next, the authors show how workplace outcomes (i.e. job satisfaction and turnover intentions) are negatively affected when employees need accommodations but do not request them. Finally, the authors demonstrate how both public stigma and self-stigma can reduce the likelihood that individuals request accommodations at work, even when needed.

Elucidating self-determination and psychological empowerment theories, the current study aims to examine the link between psychological empowerment and proactive behavior. Additionally, it delves into the mediating role of prosocial motivation and assesses the moderating effects of horizontal collectivism between psychological empowerment and proactive behavior, examining the moderated-mediation effects of horizontal collectivism.

A structured questionnaire was distributed in three waves (T1, T2 and T3) among frontline service hotel workers, out of which only 507 were retained and found useful for analysis. The study employed PROCESS macro models 4 and 8 for the analyses.

The results indicated that psychological empowerment is connected to proactive behavior through the partial mediation of prosocial motivation. Further, when horizontal collectivism is high, the favorable association between psychological empowerment and proactive behavior via prosocial motivation is stronger.

Proactive service workers have an innate tendency to contribute optimally to their organization. Yet, research is insufficient about the factors that lead to proactive behavior among frontline service hotel workers. To date, there are hardly any empirical studies that have examined the buffering effects of horizontal collectivism between psychological empowerment and proactive behavior, which contributes to the originality and novelty of our research. In addition, this study offers practical implications related to ways to improve psychological empowerment among frontline service hotel workers in the ever-increasing era of automation.

The purpose of this paper is to (1) characterize representational and nonrepresentational images; (2) review the literature on representational and nonrepresentational images; (3) introduce the theory of consumption values (TCV) framework vis-à-vis representational and nonrepresentational images; and (4) generate propositions and questions for future research based on that intersection.

Conceptual/literature review with propositions and future research directions.

The authors offer nine propositions and several associated example research questions to explore and document the important ways in which representational and nonrepresentational images can affect the five dimensions of value as outlined in the TCV.

It is the hope that this work serves as a theoretical starting point – surely, there are other theories and frameworks beyond the TCV that may share ties with types of images, which scholars should be encouraged to explore, but if the authors had attempted to document every possible theory, the result would be a limitless document. As such, the authors have honed the efforts on a broad-reaching framework, the TCV, in the attempt to balance theoretical insights with parsimony. Through exploration of these and other avenues, the authors hope that scholars and practitioners alike will benefit from elucidation of theories and effects around representational and nonrepresentational images.

Several practical implications flow from the dimensions and propositions within this work.

Representational and nonrepresentational images have featured prominently throughout visual content and communications for centuries, yet the current body of literature remains scant and underdeveloped in its relationship to marketing. The present work addresses this gap by using the TCV as an overarching framework to generate propositions and future research questions.

This study aims to investigate the role of bank ownership (foreign versus domestic) and the type of service (Islamic versus conventional) on bank lending to large enterprises and small and medium enterprises (SMEs).

Based on previous literature, the study proposes that foreign banks lend more to large enterprises and less to SMEs than domestic banks do. It also proposes that Islamic banks lend more to SMEs than conventional banks do. It utilizes unique hand-collected data of Jordanian banks from 2007 to 2018 to carry out its investigation. It applies regression estimation methods and propensity score matching to test its hypotheses.

Consistent with prior empirical evidence, the findings show that foreign banks lend significantly less (more) to SMEs (large enterprises) than their domestic counterparts. However, the findings indicate that Islamic banks lend significantly less to SMEs than their conventional counterparts. Further analysis shows that Islamic banks operating in Jordan are ultimately owned by foreign investors hence their incentives to adopt full features of Islamic financial instruments are confounded by their incentives to utilize transaction lending technologies which in turn attenuates the expected positive impact of Islamic banking services on SMEs finance.

This research provides novel evidence on the impact of Islamic banks on SMEs finance as the results suggest that the success of Islamic finance in bridging the gap of SMEs finance is conditional on embracing its full features.