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1 – 10 of over 2000
Open Access
Article
Publication date: 25 August 2022

Ashish Kumar, Shikha Sharma, Ritu Vashistha, Vikas Srivastava, Mosab I. Tabash, Ziaul Haque Munim and Andrea Paltrinieri

International Journal of Emerging Markets (IJoEM) is a leading journal that publishes high-quality research focused on emerging markets. In 2020, IJoEM celebrated its fifteenth…

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Abstract

Purpose

International Journal of Emerging Markets (IJoEM) is a leading journal that publishes high-quality research focused on emerging markets. In 2020, IJoEM celebrated its fifteenth anniversary, and the objective of this paper is to conduct a retrospective analysis to commensurate IJoEM's milestone.

Design/methodology/approach

Data used in this study were extracted using the Scopus database. Bibliometric analysis, using several indicators, is adopted to reveal the major trends and themes of a journal. Mapping of bibliographic data is carried using VOSviewer.

Findings

Study findings indicate that IJoEM has been growing for publications and citations since its inception. Four significant research directions emerged, i.e. consumer behaviour, financial markets, financial institutions and corporate governance and strategic dimensions based on cluster analysis of IJoEM's publications. The identified future research directions are focused on emergent investments opportunities, trends in behavioural finance, emerging role technology-financial companies, changing trends in corporate governance and the rising importance of strategic management in emerging markets.

Originality/value

To the best of the authors' knowledge, this is the first study to conduct a comprehensive bibliometric analysis of IJoEM. The study presents the key themes and trends emerging from a leading journal considered a high-quality research journal for research on emerging markets by academicians, scholars and practitioners.

Details

International Journal of Emerging Markets, vol. 19 no. 4
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 21 February 2024

Shuifeng Hong, Yimin Luo, Mengya Li and Duoping Yang

This paper aims to empirically investigate time–frequency linkages between Euramerican mature and Asian emerging crude oil futures markets in terms of correlation and risk…

Abstract

Purpose

This paper aims to empirically investigate time–frequency linkages between Euramerican mature and Asian emerging crude oil futures markets in terms of correlation and risk spillovers.

Design/methodology/approach

With daily data, the authors first undertake the MODWT method to decompose yield series into four different timescales, and then use the R-Vine Copula-CoVaR to analyze correlation and risk spillovers between Euramerican mature and Asian emerging crude oil futures markets.

Findings

The empirical results are as follows: (a) short-term trading is the primary driver of price volatility in crude oil futures markets. (b) The crude oil futures markets exhibit certain regional aggregation characteristics, with the Indian crude oil futures market playing an important role in connecting Euramerican mature and Asian emerging crude oil futures markets. What’s more, Oman crude oil serves as a bridge to link Asian emerging crude oil futures markets. (c) There are significant tail correlations among different futures markets, making them susceptible to “same fall but different rise” scenarios. The volatility behavior of the Indian and Euramerican markets is highly correlated in extreme incidents. (d) Those markets exhibit asymmetric bidirectional risk spillovers. Specifically, the Euramerican mature crude oil futures markets demonstrate significant risk spillovers in the extreme short term, with a relatively larger spillover effect observed on the Indian crude oil futures market. Compared with India and Japan in Asian emerging crude oil futures markets, China's crude oil futures market places more emphasis on changes in market fundamentals and prefers to hold long-term positions rather than short-term technical factors.

Originality/value

The MODWT model is utilized to capture the multiscale coordinated motion characteristics of the data in the time–frequency perspective. What’s more, compared to traditional methods, the R-Vine Copula model exhibits greater flexibility and higher measurement accuracy, enabling it to more accurately capture correlation structures among multiple markets. The proposed methodology can provide evidence for whether crude oil futures markets exhibit integration characteristics and can deepen our understanding of connections among crude oil futures prices.

Details

The Journal of Risk Finance, vol. 25 no. 2
Type: Research Article
ISSN: 1526-5943

Keywords

Article
Publication date: 21 June 2023

Syed Zulfiqar Ali Shah and Fangyi Wan

This study examines whether country-level financial integration affects firms' accounting choices and the quality of financial information.

Abstract

Purpose

This study examines whether country-level financial integration affects firms' accounting choices and the quality of financial information.

Design/methodology/approach

This study employs Propensity Score Matching (PSM), and panel regressions of a large sample of data from 20 emerging markets over the period 1987–2018.

Findings

This study finds evidence that increased level of financial integration is significantly positively associated with firms' accruals earnings management (AEM) and real earnings management (REM).

Research limitations/implications

Findings in the study have implications for standard-setting bodies that aim to enhance the usefulness of financial reporting quality. The study also has implications for various initiatives by governments in emerging markets aimed at raising investor confidence and fostering stock market development through greater financial integration.

Practical implications

Findings in the study have implications for standard-setting bodies that aim to enhance the usefulness and quality of financial reporting. The findings can be of interest to analysts, auditors and other monitoring institutions who play a crucial role in detecting earnings management and reducing information asymmetry. Finally, the study has implications for various initiatives by governments in emerging markets aimed at raising investor confidence and fostering stock market development through greater financial integration.

Originality/value

Findings in the study reveal how country-level financial integration affects accruals and real earnings management in a sample of firms from 20 emerging markets. Further, the study adds to the growing body of literature on emerging markets where capital markets mechanisms, regulatory environment and firm's corporate governance are distinct to developed markets.

Details

Journal of Applied Accounting Research, vol. 25 no. 2
Type: Research Article
ISSN: 0967-5426

Keywords

Article
Publication date: 29 September 2023

Kiattichai Kalasin

This study aims to examine the role of returnee managers that can affect the strategic-divestment decision of emerging-market firms (EM firms). Drawing on arguments from the upper…

96

Abstract

Purpose

This study aims to examine the role of returnee managers that can affect the strategic-divestment decision of emerging-market firms (EM firms). Drawing on arguments from the upper echelons theory and international human resource mobility perspectives, this study aims to propose that returnee managers influence corporate divestitures when the business outlook is negative. In addition, this study aims to examine the interplay between returnee managers and CEOs, whose characteristics can foster or undermine the efforts of returnee managers to engage in corporate divestments.

Design/methodology/approach

This study examines 278 firms from nine emerging economies. The negative binomial regression was employed to estimate the model. In the robustness checks, the logistic regression was adopted to confirm the earlier findings.

Findings

The empirical results support the notion that returnee managers strengthen the relationship between firm performance and divestments. Because of the limited liabilities of foreignness and outsidership, returnee managers can gain social trust and credibility through communication and social interaction. Furthermore, the results provide mixed support for the moderating effect of CEO characteristics on the performance–divestment relationship.

Practical implications

This study reveals that returnee managers are a great asset for EM firms that aim to find synergies and upgrade their capabilities through asset reconfiguration, which is an essential activity of emerging market firms to integrate themselves into the global competition. Meanwhile, CEO characteristics can foster (through their education level) or hinder (due to their age) divestment attempts, influenced by returnee managers.

Originality/value

This study explores an understudied phenomenon in international business (IB): strategic divestment of EM firms. The literature that examines strategic divestment and corporate refocusing in emerging markets is extremely limited. Furthermore, this study explores the novel topic that intersects the international business (IB) and international human resource management (IHRM) research areas. Specifically, this study investigates the impact of returnee managers on strategic divestments.

Details

Journal of Global Mobility: The Home of Expatriate Management Research, vol. 12 no. 1
Type: Research Article
ISSN: 2049-8799

Keywords

Article
Publication date: 20 March 2024

Priyanka Goyal and Pooja Soni

The present research study aims to explore the impact of the most recent Israeli–Palestinian conflict, which unfolded in October 2023, on global equity markets, including a wide…

Abstract

Purpose

The present research study aims to explore the impact of the most recent Israeli–Palestinian conflict, which unfolded in October 2023, on global equity markets, including a wide range of both emerging and developed markets (as per the Morgan Stanley Capital Investment country classification).

Design/methodology/approach

The market model of event study methodology, with an estimation window of 200 days and 28-day event window (including event day, i.e. October 7, 2023), has been employed to investigate the event’s impact on the stock markets of different countries, with 24 emerging countries and 23 developed countries. The daily closing prices of the prominent indices of all 47 countries have been analyzed to examine the impact of the conflict on emerging markets, developed markets and overall global equity markets. Additionally, cross-sectional regression analysis has been performed to investigate the possible explanations for abnormal returns.

Findings

The findings of the study suggest the heterogeneous impact of the selected event on different markets. Notably, emerging markets and the overall global equity landscape exhibited substantial negative responses on the event day, as reflected in average abnormal returns of −0.47% and −0.397%, respectively. In contrast, developed markets displayed resilience, with no significant negative impact observed on the day of the event. A closer examination of individual countries revealed diverse reactions, with Poland, Egypt, Greece, Denmark and Portugal standing out for their positive or resilient market responses. Poland, in particular, demonstrated significantly positive cumulative abnormal returns (CARs) of 7.16% in the short-term and 8.59% in the long-term event windows (−7, +7 and −7, +20, respectively), emphasizing its robust performance amid the geopolitical turmoil. The study also found that, during various event windows, specific variables had a significant impact on the CARs.

Practical implications

The study suggests diversification and monitoring of geopolitical risks are key strategies for investors to enhance portfolio resilience during the Israeli–Palestinian conflict. This study identifies countries such as Poland, Egypt, Greece, Denmark and Portugal with positive or resilient market reactions, providing practical insights for strategic investment decisions. Key takeaways include identifying resilient markets, leveraging opportunistic strategies and navigating market dynamics during geopolitical uncertainties.

Originality/value

As per the authors’ thorough investigation and review of the literature, the present study is the earliest attempt to explore the short-term and long-term impact of the 2023 Israeli–Palestinian conflict on equity markets worldwide using the event study approach and cross-sectional regression analysis.

Details

Journal of Economic Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 15 March 2024

Dana Minbaeva and Bahtiyar O. Minbayev

In this paper we explore potential barriers for commodification of academic research in emerging countries.

Abstract

Purpose

In this paper we explore potential barriers for commodification of academic research in emerging countries.

Design/methodology/approach

We carried out an exploratory study employing a mixed-method sequential exploratory design. Initially, qualitative interviews were performed to identify cognitive, structural, and ideological barriers associated with commodification. Subsequently, we administered a survey at three universities in Kazakhstan to gather quantitative data. The quantitative insights served to complement our qualitative findings and facilitate the interpretation of the observed patterns within the broader population.

Findings

We found that a too rapid shift toward commercialization exacerbated concerns among faculty members and created obstacles to commodification. The obstacles identified through inductive clustering of themes from exploratory qualitative interviews were grouped into three intentionally broad categories: cognitive, structural, and ideological barriers. We argue that in emerging economies, the path to commodifying academic research should start with developing local infrastructure to address identified structural, cognitive, and ideological barriers. This, in turn, will lead to more successful commercialization and redefine the role of academics in society.

Research limitations/implications

Our study has several limitations related to its empirical scope. We concentrated solely on one country, Kazakhstan. For future research, it is crucial to broaden the investigation to include more studies from the Central Asia region and other emerging economies. We believe that while there may be some minor institutional differences, the findings are generalizable to all post-socialist countries. However, incorporating a diverse range of institutions, particularly those with foreign ownership or private capital, would enhance the comprehensiveness of the findings. Furthermore, collecting a more extensive and balanced sample of responses from industry partners, academics, and students would have provided more valuable insights. By including a broader representation of stakeholders, we could have gained a more nuanced understanding of the complexities surrounding commodification in higher education. Given the exploratory nature of this study, it is essential to regard the findings as a source of inspiration rather than empirical confirmation.

Practical implications

Our research has practical implications for managing universities in emerging markets, as well as important policy implications, both for international actors and local governmental bodies.

Social implications

Our findings carry implications for policymakers. The focus that international institutions place on the matter of commodification and commercialization of knowledge is a positive step. Challenges emerge when this matter is approached with a narrow perspective. Drawing on the empirical context of the Republic of Kazakhstan, a country often overlooked in the literature on emerging markets, we find evidence that knowledge has indeed transformed into a commodity. The rapid shift toward commercialization, driven by substantial institutional pressures, may have occurred too precipitously in this particular context. In light of these findings, we advocate for a more balanced and contextually nuanced discourse concerning both the commodification and commercialization of knowledge.

Originality/value

This study represents one of the few endeavors into exploring commodification within the context of emerging economies. In recent decades, universities have faced substantial pressures to commodify academic research. While there has been a significant volume of research discussing and documenting the success of commodification in developed country universities, those in emerging economies have faced similar pressures without achieving comparable success. This paper delves into the reasons why.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 5 May 2023

Yann Truong

An important but neglected area of investigation in digital entrepreneurship is the combined role of both core and peripheral members of an emerging technological field in shaping…

Abstract

Purpose

An important but neglected area of investigation in digital entrepreneurship is the combined role of both core and peripheral members of an emerging technological field in shaping the symbolic and social boundaries of the field. This is a serious gap as both categories of members play a distinct role in expanding the pool of resources of the field. I address this gap by exploring how membership category is related to funding decisions in the emerging field of artificial intelligence (AI).

Design/methodology/approach

The first quantitative study involved a sample of 1,315 AI-based startups which were founded in the period of 2011–2018 in the United States. In the second qualitative study, the author interviewed 32 members of the field (core members, peripheral members and investors) to define the boundaries of their respective role in shaping the social boundaries of the AI field.

Findings

The author finds that core members in the newly founded field of AI were more successful at attracting funding from investors than peripheral members and that size of the founding team, number of lead investors, number of patents and CEO approval were positively related to funding. In the second qualitative study, the author interviewed 30 members of the field (core members, peripheral members and investors) to define their respective role in shaping the social boundaries of the AI field.

Research limitations/implications

This study is one of the first to build on the growing literature in emerging organizational fields to bring empirical evidence that investors adapt their funding strategy to membership categories (core and peripheral members) of a new technological field in their resource allocation decisions. Furthermore, I find that core and peripheral members claim distinct roles in their participation and contribution to the field in terms of technological developments, and that although core members attract more resources than peripheral members, both actors play a significant role in expanding the field’s social boundaries.

Practical implications

Core AI entrepreneurs who wish to attract funding may consider operating in fewer categories in order to be perceived as core members of the field, and thus focus their activities and limited resources to build internal AI capabilities. Entrepreneurs may invest early in filing a patent to signal their in-house AI capabilities to investors.

Social implications

The social boundaries of an emerging technological field are shaped by a multitude of actors and not only the core members of the field. The author should pay attention to the role of each category of actors and build on their contributions to expand a promising field.

Originality/value

This paper is among the first to build on the growing literature in emerging organizational fields to study the resource acquisition strategies of entrepreneurs in a newly establishing technological field.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 30 no. 2/3
Type: Research Article
ISSN: 1355-2554

Keywords

Article
Publication date: 9 August 2022

Saeed Rabea Baatwah, Ehsan Saleh Almoataz, Waddah Kamal Omer and Khaled Salmen Aljaaidi

This study investigates the consequences of the key audit matter (KAM) disclosure requirement by considering two salient audit proxies: audit fees and audit report lag. This…

Abstract

Purpose

This study investigates the consequences of the key audit matter (KAM) disclosure requirement by considering two salient audit proxies: audit fees and audit report lag. This investigation is relevant because most auditors worldwide are required to expand their audit report including discussion on key matters faced in the audit engagement. However, the emerging literature on the implications of KAM is inconclusive.

Design/methodology/approach

Using a distinctive dataset of 601 year-observations for firms listed on the Omani capital market over 2012–2019, this study employs pooled panel data regression with robust standard error.

Findings

Results indicate that auditors increased their fees considerably during the period of KAM but substantially shortened audit report lag. Conversely, using the KAM period as a sample, the authors find marginal or insignificant evidence for the effect of the number of KAM on both proxies. In additional analyses, this study shows that entity-level risk KAM is associated with higher fees and shorter audit report lag, while KAM related to account-level risk does not have the same effect. Interestingly, it is observed that KAM disclosure is strongly associated with higher fees and high-quality audit even when the auditors issue their report in a shorter time.

Originality/value

This study contributes to the limited research examining the consequences of KAM in emerging markets. It is also the first to show that KAM is associated with shorter audit report lag.

Details

International Journal of Emerging Markets, vol. 19 no. 3
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 29 September 2022

Maria Babar, Habib Ahmad and Imran Yousaf

This study examines the information transmission (return and volatility spillovers) among energy commodities (crude oil, natural gas, Brent oil, heating oil, gasoil, gasoline) and…

Abstract

Purpose

This study examines the information transmission (return and volatility spillovers) among energy commodities (crude oil, natural gas, Brent oil, heating oil, gasoil, gasoline) and Asian stock markets which are net importers of energy (China, India, Indonesia, Malaysia, Korea, Pakistan, Philippines, Taiwan, Thailand).

Design/methodology/approach

The information transmission is investigated by employing the spillover index of Diebold and Yilmaz, using daily data for the period January 2000 to May 2021.

Findings

A Strong connectedness is documented between the two classes of asset, especially during crisis periods. Our findings reveal that most of the energy markets, except gasoil and natural gas, are net transmitters of information, whereas all the stock markets, excluding Indonesia and Korea, are net recipients.

Practical implications

The findings are helpful for portfolio managers and institutional investors allocating funds to various asset classes in times of crisis.

Originality/value

All data is original.

Details

Asia-Pacific Journal of Business Administration, vol. 16 no. 2
Type: Research Article
ISSN: 1757-4323

Keywords

Open Access
Article
Publication date: 29 February 2024

Vera Rebiazina, Elena Sharko and Svetlana Berezka

The paper aims to reveal the impact of relationship marketing (RM) practices adopted by companies in emerging markets on their market and financial performance (FP) over a…

Abstract

Purpose

The paper aims to reveal the impact of relationship marketing (RM) practices adopted by companies in emerging markets on their market and financial performance (FP) over a long-term, 13-year perspective.

Design/methodology/approach

The research design combines primary empirical data from 229 Russian companies, based on the Contemporary Marketing Practices (CMP) survey, and objective FP data from official statistical databases for 2008–2020 to verify the impact of RM practices on market and FP in the long term.

Findings

The research underlines the significant impact of RM practices. It is important to notice that the effect of product development (PD) on marketing performance is mediated by competitor orientation. PD affects market and FP, whose roles vary with the return on assets (ROA).

Research limitations/implications

Research design supplements the subjective survey data with the objective FP data on the ROA to avoid common method bias.

Practical implications

Implementation of RM practices by Russian companies can increase their effectiveness of performance in the long term.

Originality/value

This research shows the positive impact of RM practices on the FP of Russian firms over the past 13 years.

Details

Journal of Economics, Finance and Administrative Science, vol. 29 no. 57
Type: Research Article
ISSN: 2077-1886

Keywords

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