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This study aims to examine the effect of corporate social responsibility (CSR) on banks’ capital, value and risk by investigating its impact on capital inflows and asset quality. The authors aim to investigate the value-protective characteristics of socially responsible performance.

This study uses a two-stage least squares approach with instrumental variables, with bank and year fixed effects to address concerns regarding endogeneity, specifically reverse causality and unobservable factors.

The results confirm a positive association of CSR with capital adequacy, including higher quality Tier 1 Capital. The authors find strong evidence that banks with higher CSR scores are associated with greater bank value and lower risk. The extended analyses find that the improvement in capital is from annual growth in capital and lower risky assets.

The research advances the field by providing new empirical evidence of a positive association between CSR and capital, including high-quality Tier 1 Capital. This study complements the prior research by simultaneously examining the dynamic links between CSR and capital, bank risk and bank value. The findings are consistent with the view that there is a dynamic link in which CSR affects the operations of banks.

Throughout the 21st century, US households have experienced unprecedented levels of leverage. This dynamic has been exacerbated by income shortfalls during the COVID-19 crisis. Leveraging and deleveraging decisions affect household consumption. This study investigates the effect of the dynamics of household leverage and consumption on the stock market.

The authors explore the relation between household leverage and consumption in the context of the consumption capital asset pricing model (CCAPM). The authors test the model's implication that leverage has a negative risk premium by transforming the asset pricing restriction into an unconditional linear factor model and estimate the model using the general method of moments procedure. The authors run time-series regressions to estimate individual stocks' exposures to leverage, and cross-sectional regressions to investigate the leverage risk premium.

The authors show that shocks to household debt have strong and lasting effects on consumption growth. The authors extend the CCAPM to accommodate this effect and find, using various test assets, a negative risk premium associated with household deleveraging. Looking at individual stocks the authors show that the deleveraging risk premium is not explained by well-known risk factors.

This paper contributes to the literature on the role of leverage in economics and finance by establishing a relation between household leverage and spending decisions. The authors provide novel evidence that households' leveraging and deleveraging decisions can be a fundamental and influential force in determining asset prices. Further, this paper argues that household leverage might explain the small, persistent, and predictable component in consumption growth hypothesised in the long-run risk asset pricing literature.

This paper employs nationwide, large-scale field survey data to provide the first empirical evidence on the impact of human educational capital on the acquisition of health entitlement among Chinese migrant workers. The findings of this study hold significant practical implications for the formulation of policies aimed at improving the health protection of migrant workers, as well as for socioeconomic policies during China's transitional period.

Using the IVProbit model, this research examines how human educational capital influences the attainment of health entitlement among migrant workers in China by analyzing the impact and mechanism of education on health entitlement. The study is based on the China Migrants Dynamic Survey (CMDS) data from 2018, which include 100,177 observations.

For migrant workers in China, higher levels of education have a significant positive effect on the acquisition of health entitlements, including medical insurance, health records and health education. The positive impact of human educational capital on health entitlements is more significant for non-provincial cities and young-generation migrant workers. The results also show that human educational capital can influence the acquisition of health entitlements through mediators such as financial status, social integration and health status.

This study represents the first empirical attempt to evaluate the influence of human educational capital on the access of migrant workers in China to health rights and interests. Additionally, the study develops a theoretical framework to examine how the impact of human educational capital varies across migrant workers with different characteristics and their access to health entitlements.

Drawing on symbolic interaction theory (SIT), this study aims to identify what makes corporate social responsibility (CSR) communication more favorable to customers in the chain restaurants context. Specifically, this study examines the direct relationships between the interactivity of CSR communication, brand trust and brand sincerity. In addition, the mediating role of brand trust (i.e. separate dimensions of brand reliability and intentions) and the moderated mediating role of self-congruity are explored.

A total of 418 US consumers with past experiences of participating in CSR campaigns organized by chain restaurants on social media were recruited using the online survey method of nonprobability sampling through Amazon Mechanical Turk in December 2021.

The results of this study revealed that the interactivity of CSR communication on social media affects brand sincerity; brand reliability and brand intentions mediate the positive effect of interactivity of CSR communication on brand sincerity; and customer’s self-congruity moderated the positive mediation effect via brand reliability.

Chain restaurant marketers need to understand the important role of interactivity as a key element of CSR communication on social media to help develop brand trust and brand sincerity in chain restaurants.

This study expands on SIT to support the symbolic benefits of interactive CSR communication on social media.

This study aims to measure impact of several firm-specific factors on alternative measures of leverage. The authors also aim to study impact of the subprime crisis on such associations.

The authors utilized an unbalanced panel data of 973 firm-year observations on 47 UK listed non-financial firms for the years 1990–2019. Book-based and market-based long-term and total leverage measures have been used as explained variables. The explanatory variables are profitability, size, two measures of growth, asset tangibility, non-debt tax shields, firm age and product uniqueness. Fixed effect and random effect models with clustered robust standard errors have been utilized for data analysis. To find the effect of subprime crisis, original dataset was split to create pre-crisis and post-crisis datasets.

The authors find that profitability significantly reduces leverage while firms having more tangible assets use significantly more debt in capital structure. Firm size and non-debt tax shield have statistically insignificant positive impact on leverage. Having more unique products reduces use of external debt, albeit insignificantly. Growth, when measured as market-to-book ratio, has inconsistent impact, whereas capital expenditure insignificantly reduces leverage. Age is found to be an insignificant predictor of leverage. After the subprime crisis, firms started relying more on internal fund instead of external debt, more particularly short-term debt. Having more collateral is gradually becoming more important for availing external debt.

Data limitations restrict generalization of the findings.

This is one of the pioneering attempts to show how subprime crisis altered the theoretical domain of capital structure research in the UK.

Within the last two decades, entrepreneurship education has become institutionalized in Germany. It is offered as a stand-alone program or as part of a business degree, combining academic knowledge, practical skills, and personal development to enhance the entrepreneurial success of university graduates. While entrepreneurship education has experienced similar growth worldwide, its emergence in Germany is closely tied to the country’s political and economic developments. The significance of entrepreneurship education for a thriving entrepreneurial ecosystem and contemporary economic policy has been instrumental in advancing its academic recognition. This chapter provides a historical analysis of the academization of entrepreneurship in Germany. It explores the recursive and often idiosyncratic processes involving state and financial institutions, companies, and universities that have created, respecified, and mutually reinforced a subdiscipline and field of study. Academic entrepreneurship knowledge successively not only became relevant for starting a business but also for employment within the entrepreneurial infrastructure and beyond. This chapter follows a chronological order, highlighting three key stages in the academization of entrepreneurship education. First, the academic, financial, and political roots (I) of entrepreneurship up until the 1970s. Second, it explores the transformation (II) of entrepreneurship into a viable policy alternative and the challenges faced in establishing complementary research and education in higher education institutions during the 1980s. Finally, it sketches the institutionalization (III) of entrepreneurship as a central driver of government economic policy, allowing for the late bloom of entrepreneurship education and research at universities around the turn of the millennium.

The COVID-19 pandemic and the onset of the conflict in Ukraine led to a sustained downturn in tourist arrivals (TA) in Russia. This paper aims to explore the influence of geopolitical risk (GPR) and other indices on TA over 1995–2023.

We employ a nonlinear autoregressive distributed lag (NARDL) model to analyze the effects, capturing both the positive and negative shocks of these variables on TA.

Our research demonstrates that the NARDL model is more effective in elucidating the complex dynamics between macroeconomic factors and TA. Both an increase and a decrease in GPR lead to an increase in TA. A 1% negative shock in GPR leads to an increase in TA by 1.68%, whereas a 1% positive shock in GPR also leads to an increase in TA by 0.5%. In other words, despite the increase in GPR, the number of tourists coming to Russia increases by 0.5% for every 1% increase in that risk. Several explanations could account for this phenomenon: (1) risk-tolerant tourists: some tourists might be less sensitive to GPR or they might find the associated risks acceptable; (2) economic incentives: increased risk might lead to a depreciation in the local currency and lower costs, making travel to Russia more affordable for international tourists; (3) niche tourism: some tourists might be attracted to destinations experiencing turmoil, either for the thrill or to gain firsthand experience of the situation; (4) lagged effects: there might be a time lag between the increase in risk and the actual impact on tourist behavior, meaning the effects might be observed differently over a longer period.

Our study, employing the NARDL model and utilizing a dataset spanning from 1995 to 2023, investigates the impact of GPR, gross domestic product (GDP), real effective exchange rate (REER) and economic policy uncertainty (EPU) on TA in Russia. This research is unique because the dataset was compiled by the authors. The results show a complex relationship between GPR and TA, indicating that factors influencing TA can be multifaceted and not always intuitive.

The paper aims to analyse the impact of economic and governance factors on remittance inflows to India from the UK, USA and UAE. India is globally recognised as the largest recipient of remittances.

Using a comprehensive time series data set spanning 1996 to 2022, the authors use an innovative non-linear autoregressive distributed lag model approach to examine the influence of economic growth, corruption control and employer availability in the three source countries on remittance inflows to India.

The results indicate that in the UAE, changes in economic growth and corruption control directly affect remittance outflows. However, the presence of employers in the UAE has minimal impact on remittance outflows to India. Regarding the UK, fluctuations in economic growth primarily drive remittance outflows to India. The effect of corruption control and employment opportunities on remittance outflows is marginal. In the USA, economic growth does not notably impact remittance outflows, whereas corruption control and employment opportunities significantly influence the outflows to India.

These findings have important implications for policymakers. Analysing macroeconomic factors from key remittance-sending nations offers valuable insights for Indian policymakers and their international counterparts to enhance remittance inflows. The study focuses on three countries that collectively contribute to about 50% of India's remittances, providing a unique contribution compared to the usual country-specific or regional focus in existing literature. Finally, leveraging these findings, NITI Aayog, an organisation dedicated to achieving India's sustainable development goals, can effectively monitor macroeconomic indicators related to significant remittance-sending countries.

Through the “Going Digital Initiative,” the Ghanaian government has introduced policies that aim at improving the information and communication technology (ICT) infrastructure of the country. These ICT policies have benefited numerous sectors of the Ghanaian economy. In logistics management, ICT has impacted drone medical delivery in the healthcare and maritime sectors. However, the importance of ICT is not realized in the motorcycle goods transport (MGT) industry, regardless of its popularity and high economic dependency. Second, all research on motorcycles is focused on diverse social concerns, and no study has attempted to analyze ICT implementation for MGT operations. This is a significant gap in logistics management. Hence, the study aimed to investigate the impact of ICT on Ghana's MGT industry empirically.

The study adopts a two-phase data collection approach to collect the data. The authors use partial least square structural equation modeling to analyze the study's measurement and structural assessment model.

ICT positively impacts MGT and the drivers considered. The drivers positively influence MGT. The study further analyzes novel results on the relationships between the drivers and their mediating roles in enhancing MGT performance.

The study's originality is the extension of ICT adoption and usage in MGT. The lack of literature on the importance of ICT for MGT services makes this study the primary source of literature, and the relationships investigated are unique as the research area is unexplored.

In this study the authors aim to comprehensively investigate the determinants of voting behavior in Turkey, with a specific focus on the dynamics of the center-periphery debate. Mainly, the authors focus on regional voting patterns during the period that is dominated by the Justice and Development Party (JDP/AKP) in the elections. The authors apply the random effects generalized least squares (GLS) methodology, and analyze electoral data covering four pivotal parliamentary elections (2007, 2011, 2015 and 2018) across all 81 provinces (NUTS III regions). The authors individually examine voting dynamics of the four major parties in parliament: the JDP/AKP, the Republican People's Party (RPP/CHP), the Nationalist Movement Party (NMP/MHP) and the Peoples' Democratic Party (PDP/HDP). The authors contribute to a comprehensive understanding of how socioeconomic cleavages, economic performance, party alignment and social dynamics shape voter preferences in the Turkish context, thereby addressing gaps in the existing literature.

This research employs an ecological study of Turkish NUTS III sub-regions, covering national elections from 2007 to 2018. The authors utilize the random effects GLS method to account for heteroscedasticity and time effects. The inclusion of the June and November 2015 elections enables a comprehensive analysis of the evolving dynamics in Turkish voting behavior. The results remain robust when applying pooled OLS and fixed effect OLS techniques for control.

The study's findings reveal that economic performance, specifically economic growth, plays a pivotal role in the sustained dominance of the JDP/AKP party. Voters closely associate JDP preference with economic growth, resulting in higher voting shares during periods of economic prosperity. Along with economic growth; share of agriculture in regions' GDP, female illiteracy rate, old population rate, net domestic migration, terrorism and party alignment are also influential factors in the Turkish case. Furthermore, differences among sociocultural groups, and East–West dichotomy seem to be important factors that reveal the impact of social cleavages to understand electoral choice in Turkey.

This study contributes to the existing literature by offering a comprehensive multidimensional analysis of electoral behavior in Turkey, focusing on the JDP/AKP dominance period. The main contribution of this study is its multidimensional perspective on the power bases of all main parties, considering key voter choice theories (cleavages, party alignment and retrospective economic performance voting) that have not been systematically analyzed in prior research. The main research question of this study is to examine which factors affect voting behavior in Turkey and how the dynamics of center-periphery or eastern-western region voting behavior under the JDP hegemony can be explained. The contribution of this study consists not only in its empirical testing of panel data approaches but also in its comprehensive analysis of four major political parties. Building upon existing studies in the literature, this research seeks to extend the understanding of voting dynamics for the four main parties in the parliament — JDP/AKP, RPP/CHP, NMP/MHP and PPDP/HDP — by delving into their dynamics individually, thereby expanding the scope of previous studies. This study aims to make a contribution by not only empirically testing panel data approaches but also conducting a comprehensive analysis of four major political parties. Furthermore, the separate inclusion of the 2015 elections and utilization of a panel data approach enrich the analysis by capturing the evolving dynamics of Turkish voting behavior. The study underscores the significance of socioeconomic factors, economic performance and social cleavages for voters' choices within the context of a dominant party rule.