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1 – 10 of over 8000This study aims to determine how the applications of blockchain technology (BT) can play a crucial role in managing financial flows in the humanitarian supply chain (HSC) and what…
Abstract
Purpose
This study aims to determine how the applications of blockchain technology (BT) can play a crucial role in managing financial flows in the humanitarian supply chain (HSC) and what benefits and challenges are associated with BT in a humanitarian setting.
Design/methodology/approach
The present study used a qualitative research approach, incorporating a systematic literature review and conducting semi-structured interviews with 12 experts in the fields of humanitarian operations, supply chain management, fintech and information technology.
Findings
The findings show that the humanitarian sector has the potential to reap significant benefits from BT, including secure data exchange, efficient SCM, streamlined donor financing, cost-effective financial transactions, smooth digital cash flow management and the facilitation of cash programs and crowdfunding. Despite the promising prospects, this study also illuminated various challenges associated with the application of BT in the HSC. Key challenges identified include scalability issues, high cost and resource requirements, lack of network reliability, data privacy, supply chain integration, knowledge and training gaps, regulatory frameworks and ethical considerations. Moreover, the study highlighted the importance of implementing mitigation strategies to address the challenges effectively.
Research limitations/implications
The present study is confined to exploring the benefits, challenges and corresponding mitigation strategies. The research uses a semi-structured interview method as the primary research approach.
Originality/value
This study adds to the existing body of knowledge concerning BT and HSC by explaining the pivotal role of BT in improving the financial flow within HSC. Moreover, it addresses a notable research gap, as there is a scarcity of studies that holistically cover the expert perspectives on benefits, challenges and strategies related to blockchain applications for effective financial flows within humanitarian settings. Consequently, this study seeks to bridge this knowledge gap and provide valuable insights into this critical area.
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Navid Bahmani and Atefeh Yazdanparast
With the goal of helping consumers bounce back from the financial challenges they faced as a result of the COVID-19 pandemic, many firms developed and announced consumer-targeted…
Abstract
Purpose
With the goal of helping consumers bounce back from the financial challenges they faced as a result of the COVID-19 pandemic, many firms developed and announced consumer-targeted resiliency programs (e.g. Walgreens waived delivery fees, Associated Bank allowed deferred mortgage payments). However, there is a paucity of research examining the unique features of these programs, and whether firms' investors (the first external stakeholder group to provide them with feedback regarding their strategies) were receptive to these programs during a period of time in which firms themselves were suffering financially. Drawing on resilience theory and stakeholder theory, the present research incorporates an event study of consumer-targeted resiliency program announcements to understand their financial implications for firms, and to learn whether firms witnessed different financial effects as a result of firm- and program-specific factors.
Design/methodology/approach
This study referred to business news publications and newswire services to collect a comprehensive list of consumer-targeted resiliency programs announced by publicly traded U.S. firms during the pandemic. The resulting dataset consisted of 145 announcements made during the period of February–June 2020. An event study was conducted in order to precisely measure the main effect of consumer-targeted resiliency programs on firm value, as manifested through abnormal stock returns. Finally, a moderation analysis (regression) was conducted to uncover whether firm characteristics or specific features of firms' consumer-targeted resiliency programs lead certain firms to witness stronger financial effects than others.
Findings
The main effect of consumer-targeted resiliency programs on firm value was found to be positive – a 1.9% increase on average. The moderation analysis finds that non-financial firms were rewarded more positively than financial firms (e.g. banks and credit card companies). In addition, financial aid (i.e. allowing customers to defer their payments to a firm for its products/services, versus a reduction in the price of a product/service or offering it for free or giving cash back to customers) and temporal characteristics (i.e. an offer being framed as limited-time, vs being indefinite or for the foreseeable future) are not found to have a moderating effect.
Originality/value
This theory-driven empirical study uncovers practical implications for managers of firms interested in whether investing in corporate social responsibility during times of crisis is a wise allocation of resources. Any form of financial aid for consumers, regardless of temporal limitations, is received positively by investors.
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Oscar Espinoza, Luis Gonzalez, Luis Sandoval, Bruno Corradi, Yahira Larrondo and Noel McGinn
This study analyzed the impact on the persistence of Chilean university students who had received a government-guaranteed loan (CAE).
Abstract
Purpose
This study analyzed the impact on the persistence of Chilean university students who had received a government-guaranteed loan (CAE).
Design/methodology/approach
Using academic and administrative data from 2016 to 2019, provided by 11 Chilean universities, a discrete-time survival model was constructed. The model was based on data of 5,276 students in the 2016 cohort and included sociodemographic variables, academic background prior to entering university and academic performance once in university. As a robustness check of our results to observable confounding, the analysis was repeated using a control group constructed using propensity score matching (PSM).
Findings
The results reveal that students who receive a bank loan (CAE) were more likely to remain in undergraduate studies for at least the first two years of university, as opposed to their peers who did not receive financial aid. In addition, they show the importance of academic performance in retention.
Originality/value
The article advances in the identification of the impact of bank loans on permanence. Although previous research has evaluated the impact of the CAE, it has been conducted on small samples of students. These studies also lacked student records associated with their academic performance at the university. The present research overcomes both weaknesses, allowing us to estimate the impact of the CAE on a larger population of students that is representative of the system.
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What kinds of support do interstate rivals provide to domestic actors in ongoing civil wars? And how do domestic actors utilize the support they receive? This chapter answers…
Abstract
What kinds of support do interstate rivals provide to domestic actors in ongoing civil wars? And how do domestic actors utilize the support they receive? This chapter answers these questions by comparing Iranian and Saudi military and non-military (mediation, foreign aid and religious soft-power promotion) support to the Houthis and to the Government of Yemen (GoY) during the Saada wars (2004–2010) and the internationalized civil war (2015–2018). It also focuses on the processes through which the GoY and the Houthis have utilized this support for their own strategic purposes. This chapter applies a structured, focused comparison methodology and relies on data from a review of both primary and secondary sources complemented by 14 interviews. This chapter finds that there were less external interventions in the conflict in Saada than in the internationalized civil war. During the latter, a broader set of intervention strategies enabled further instrumentalization by domestic actors, which in turn contributed to the protracted nature of the conflict. This chapter contributes to the literature on interstate rivalry and third-party intervention. The framework of analysis is applicable to civil wars that experience intervention by rivals, such as Syria or Libya.
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Emre Bulut and Başak Tanyeri-Günsür
The global financial crisis (GFC) of 2007–2008 had far-reaching consequences for the global economy, triggering widespread economic turmoil. We use the event-study method to…
Abstract
The global financial crisis (GFC) of 2007–2008 had far-reaching consequences for the global economy, triggering widespread economic turmoil. We use the event-study method to investigate whether investors priced the effect of significant events before the Lehman Brothers' bankruptcy in European and Asia-Pacific banks. Abnormal returns on the event days range from −4.32% to 5.03% in Europe and −5.13% to 6.57% in Asia-Pacific countries. When Lehman Brothers went bankrupt on September 15, 2008, abnormal returns averaged the lowest at −4.32% in Europe and −5.13% in Asia-Pacific countries. The significant abnormal returns show that Lehman Brothers' collapse was a turning point, and investors paid attention to the precrisis events as warning signs of the oncoming crisis.
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Zifeng Wang, Dezhu Ye and Tao Liang
This paper empirically investigates the relationship between financial availability and crime by measuring it across five dimensions: banking, securities, insurance, private…
Abstract
Purpose
This paper empirically investigates the relationship between financial availability and crime by measuring it across five dimensions: banking, securities, insurance, private lending and digital inclusive finance.
Design/methodology/approach
The study utilizes 2011–2017 data from prefecture-level cities as a representative sample. Moreover, these findings remain robust after addressing endogeneity through the use of the historical distance between cities and the railroad network as an instrumental variable.
Findings
The findings demonstrate a significant negative relationship between financial accessibility and crime rates. Heterogeneity exists in the inhibitory effect of different types of financial accessibility on crime, with banking finance exhibiting a stronger inhibitory effect compared to private lending. Areas affected by natural disasters and infectious diseases exhibit a stronger inhibitory effect of financial accessibility on crime rates, particularly in areas with severe shocks of natural disasters and epidemics. This effect is attributed to the low financing threshold and easy access to private lending, which plays a more effective role than bank finance when people face extreme risks.
Practical implications
There should be stricter regulations imposed on private lending markets and the introduction of more rational legislation aimed at guiding a healthy development within these markets; such measures serve as effective and complementary means for individuals from all walks of life to access credit financing.
Social implications
The regulation of financial resources by the government should always prioritize ensuring the accessibility of financial policies to cater to the needs of the majority population.
Originality/value
This study is for the first time in an emerging economy context, the causal relationship between financial accessibility and crime. To provide a more comprehensive measure of financial accessibility in a region, this paper proposes a five-dimensional methodology.
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The economy has recovered somewhat from the one-third contraction in 2022 caused by Russia's invasion. Government spending, mainly on defence, dominates but agriculture has…
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DOI: 10.1108/OXAN-DB283880
ISSN: 2633-304X
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Geographic
Topical
This study examines the importance of financial inclusion and financial literacy in achieving Sustainable Development Goal 1 (SDG 01) of reducing poverty within Asia. It…
Abstract
This study examines the importance of financial inclusion and financial literacy in achieving Sustainable Development Goal 1 (SDG 01) of reducing poverty within Asia. It highlights the significance of fostering financial inclusion and spreading financial literacy for economic prosperity in the region. Despite the progress made in combating poverty and enhancing financial commodities, challenges persist, particularly regarding insufficient accessibility to basic financial amenities and a lack of knowledge in handling finances. However, a substantial portion of the Asian population lacks access to the financial literacy skills necessary for utilizing financial facilities and achieving financial inclusion. It reviews the current situation of financial inclusion and financial literacy in the region, explores the factors influencing these concepts, and highlights government initiatives aimed at fostering financial inclusion and literacy. Asia, with its diverse cultural and socioeconomic contexts, presents unique challenges and opportunities for promoting financial literacy and inclusion. The region’s growing population, emerging economies, and increasing middle-class underscore the importance of these factors. Ensuring that individuals have access to financial services and the knowledge and skills to manage their finances effectively can support economic development and poverty reduction, and create an inclusive and equitable society. By addressing the challenges of limited access to financial amenities and promoting financial literacy among the population, it is possible to foster economic growth, reduce poverty, and create more inclusive societies.
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Eric B. Yiadom, Lord Mensah, Godfred A. Bokpin and Raymond K. Dziwornu
This research investigates the threshold effects of the interplay between finance, development and carbon emissions across 97 countries, including 50 low-income and 47 high-income…
Abstract
Purpose
This research investigates the threshold effects of the interplay between finance, development and carbon emissions across 97 countries, including 50 low-income and 47 high-income countries, during the period from 1991 to 2019.
Design/methodology/approach
Employing various econometric modeling techniques such as dynamic linear regression, dynamic panel threshold regression and in/out of sample splitting, this study analyzes the data obtained from the World Bank's world development indicators.
Findings
The results indicate that low-income countries require a minimum financial development threshold of 0.354 to effectively reduce carbon emissions. Conversely, high-income countries require a higher financial development threshold of 0.662 to mitigate finance-induced carbon emissions. These findings validate the presence of a finance-led Environmental Kuznet Curve (EKC). Furthermore, the study highlights those high-income countries exhibit greater environmental concern compared to their low-income counterparts. Additionally, a minimum GDP per capita of US$ 10,067 is necessary to facilitate economic development and subsequently reduce carbon emissions. Once GDP per capita surpasses this threshold, a rise in economic development by a certain percentage could lead to a 0.96% reduction in carbon emissions across all income levels.
Originality/value
This study provides a novel contribution by estimating practical financial and economic thresholds essential for reducing carbon emissions within countries at varying levels of development.
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The study aims to explore the relationship between financial literacy and general life satisfaction. The study further investigates the mediating role of financial self-efficacy…
Abstract
Purpose
The study aims to explore the relationship between financial literacy and general life satisfaction. The study further investigates the mediating role of financial self-efficacy in this relationship in the context of Indian rural households.
Design/methodology/approach
Households belonging to the rural area of the Koraput district of Odisha were taken as the sample unit of this study. A structured questionnaire was framed to collect primary data using multi-stage and convenience sampling; 299 responses were received. Data analyses were performed using partial least square-structure equation modelling through SmartPLS 4.0.
Findings
The results of the study connoted that financial literacy has a noteworthy impact on the overall life satisfaction of households with lower incomes, both directly and indirectly. Moreover, the study identified financial self-efficacy as a significant complementary partial mediator in the relationship between financial literacy and overall satisfaction with life.
Practical implications
The findings of the study can be used by financial regulatory authorities and policymakers to seed the financial concepts’ understanding among the rural community to enhance their financial status and thereby overall satisfaction with life.
Originality/value
To the best of the authors’ knowledge, the exploration study of life satisfaction of rural households is yet to be discovered in the context of previous research frameworks despite rural households being an intricate part of the Indian economy. The study adds to the existing literature on life satisfaction, necessitating financial literacy expertise in rural households for achieving financial self-efficacy.
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