Search results

1 – 10 of over 82000
To view the access options for this content please click here
Article
Publication date: 9 September 2021

Naser Yenus Nuru and Hayelom Yrgaw Gereziher

The main purpose of this study is to investigate the symmetric and asymmetric effects of exchange rate uncertainty on employment in South Africa’s manufacturing sector…

Abstract

Purpose

The main purpose of this study is to investigate the symmetric and asymmetric effects of exchange rate uncertainty on employment in South Africa’s manufacturing sector over the period 1985Q1–2019Q2.

Design/methodology/approach

Jorda’s (2005) local projection method is employed and following Koop et al. (1996); generalized impulse response functions are generated to see the effect of exchange rate uncertainty on employment in South Africa’s manufacturing sector.

Findings

The results show that exchange rate uncertainty affects negatively and significantly employment in South Africa’s manufacturing sector. Employment also responds negatively and significantly to export shock. Inflation and output shocks, however, positively and significantly affect employment on impact. Asymmetric responses of employment to exchange rate uncertainty are also found in this study. While high exchange rate uncertainty leads to a reduction in employment, low exchange rate uncertainty brings an increase in employment in South Africa’s manufacturing sector.

Originality/value

This research adds to the scarce empirical literature on the effect of exchange rate uncertainty on employment in South Africa’s manufacturing sector by incorporating mainly non-linearities into the model.

Details

Journal of Economic and Administrative Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1026-4116

Keywords

To view the access options for this content please click here
Article
Publication date: 22 September 2021

Sylvia Veronica Siregar and Siti Nurwahyuningsih Harahap

The purpose of this study is to examine the effect of business uncertainty on the information technology (IT) governance of listed firms in Indonesia.

Abstract

Purpose

The purpose of this study is to examine the effect of business uncertainty on the information technology (IT) governance of listed firms in Indonesia.

Design/methodology/approach

The samples are listed firms in Indonesia Stock Exchange for the years 2015–2018. Total observations are 1,215 firm years. The authors used the random effect panel regression to test the hypotheses.

Findings

The authors find that business uncertainty has a significant positive association with IT governance, consistent with the prediction. Companies with higher business uncertainty are in higher demand for implementing IT governance.

Originality/value

The authors have not found previous studies that examine business uncertainty as to the determinant of IT governance. The authors also examined the IT governance in Indonesia, one of the emerging countries. Most previous studies on IT governance were conducted in developed countries, which results may not be generalized to emerging countries.

Details

Journal of Financial Reporting and Accounting, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1985-2517

Keywords

To view the access options for this content please click here
Article
Publication date: 23 August 2021

Marshall A. Geiger, Rajib Hasan, Abdullah Kumas and Joyce van der Laan Smith

This study explores the association between individual investor information demand and two measures of market uncertainty – aggregate market uncertainty and disaggregate…

Abstract

Purpose

This study explores the association between individual investor information demand and two measures of market uncertainty – aggregate market uncertainty and disaggregate industry-specific market uncertainty. It extends the literature by being the first to empirically examine investor information demand and disaggregate market uncertainty.

Design/methodology/approach

This paper constructs a measure of information search by using the Google Search Volume Index and computes measures of aggregate and disaggregate market uncertainty using institutional investors' trading data from Ancerno Ltd. The relation between market uncertainty, as measured by trading disagreements among institutional investors, and information search is analyzed using an OLS (Ordinary Least Squares) regression model.

Findings

This paper finds that individual investor information demand is significantly and positively correlated with aggregate market uncertainty but not associated with disaggregated industry uncertainty. The findings suggest that individual investors may not fully incorporate all relevant uncertainty information and that ambiguity-related market pricing anomalies may be more associated with disaggregate market uncertainty.

Research limitations/implications

This study presents an examination of aggregate and disaggregate measures of market uncertainty and individual investor demand for information, shedding light on the efficiency of the market in incorporating information. A limitation of our study is that our data for market uncertainty is based on investor trading disagreement from Ancerno, Ltd. which is only available till 2011. However, we believe the implications are generalizable to the current time period.

Practical implications

This study provides the first concurrent empirical assessment of investor information search and aggregate and disaggregate market uncertainty. Prior research has separately examined information demand in these two types of market uncertainty. Thus, this study provides information to investors regarding the importance of assessing disaggregate component measures of the market.

Originality/value

This paper is the first to empirically examine investor information search and disaggregate market uncertainty. It also employs a unique data set and method to determine disaggregate, and aggregate, market uncertainty.

Details

International Journal of Managerial Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1743-9132

Keywords

To view the access options for this content please click here
Article
Publication date: 16 August 2021

Imlak Shaikh

In recent times, sustainable investment gaining much attention within the investors’ community and it is broadly driven by environmental, social and governance (ESG…

Abstract

Purpose

In recent times, sustainable investment gaining much attention within the investors’ community and it is broadly driven by environmental, social and governance (ESG) factors. This study aims to examine the ESG-based sustainability index and economic policy uncertainty (EPU).

Design/methodology/approach

Corporate sustainability assessment procedure yields Dow Jones sustainability indexes (DJSIUS) and ESG compliant firms become a member of such indexes. To uncover the effects of policy uncertainty as follows: the study considers EPU index, equity market policy uncertainty index, economic and political events for the period 2000–2017. The authors present the study using a conditional volatility framework.

Findings

The correlation between the DJSIUS and policy uncertainty appears to be negative and statistically significant. It is apparent from the results that policy uncertainty does contain important ESG factors that explain the sustainable investment in US firms. Moreover, the stock market boom, credit crunch, Lehman collapse and fiscal crises have shown significant adverse effects on the sustainability index. More importantly, it is seen that investors’ sustainable investing considers presidential election years for portfolio planning; the uncertainty associated with the election years has also shown a negative impact on the sustainable returns.

Practical implications

First, sustainability is essential for the long-term stakeholders’ wealth maximization under governments’ policy uncertainty such as constrained resources, demographic and climate-change-policy, societal expectations, public-policies, regulatory structure. Second, EPU creates new opportunities and risks for sustainable firms and sustainable investing.

Originality/value

The study is novel in which the authors present the effects of uncertainty on socially responsible investing.

Details

Journal of Modelling in Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-5664

Keywords

To view the access options for this content please click here
Article
Publication date: 20 August 2021

R. Anthony Inman and Kenneth W. Green

Today's businesses are facing a world that is more complex, turbulent and unpredictable than in the past with increasing levels of environmental complexity. Rather than…

Abstract

Purpose

Today's businesses are facing a world that is more complex, turbulent and unpredictable than in the past with increasing levels of environmental complexity. Rather than proposing environmental uncertainty as a mediator/moderator of the relationship between agility and performance as others have done, the authors offer an alternative view where supply chain agility is seen as mediating the relationship between environmental uncertainty and supply chain performance.

Design/methodology/approach

The authors propose that supply chain agility is a response to the effects of environmental uncertainty and, as such, environmental uncertainty should be seen as a driver of supply chain agility. Few studies test the direct relationship between uncertainty and supply chain performance, and none simultaneously test for agility's mediation and moderation effect between environmental uncertainty and agility.

Findings

The model was statistically assessed using partial-least-squares structural equation modeling (PLS/SEM) by analyzing survey data from manufacturing managers in 136 US firms. The study results did not indicate a significant relationship between environmental uncertainty and supply chain performance. However, the authors did find a significant positive relationship between agile manufacturing and supply chain performance using measures that were primarily operations-centered rather than financial. Additionally, the authors found that agile manufacturing fully mediates the relationship between environmental uncertainty and supply chain performance.

Originality/value

The authors’ model, though simple, provides a base for future research for them and other researchers who can incorporate other impacting variables into the model. The study results show that uncertainty can be a force for good and that utilizing agile manufacturing can be a new source of opportunity.

Details

Journal of Manufacturing Technology Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1741-038X

Keywords

To view the access options for this content please click here
Article
Publication date: 26 August 2021

Jan Winczorek

The links between moral communication and legal communication have long been studied in sociology of law. Little has yet been said about moral communication invoking when…

Abstract

Purpose

The links between moral communication and legal communication have long been studied in sociology of law. Little has yet been said about moral communication invoking when communication in the legal system is impossible, ineffective or uncertain. The paper fills this gap to demonstrate that systems theory-based sociology of law can effectively recognise the role of moral communication in such situations.

Design/methodology/approach

The paper presents an empirical study of moral communication in small and medium-sized enterprises (SMEs). It focused on situations when SMEs' interactions with function systems, particularly the legal system, result in irremovable legal uncertainty. The data depict strategies of managing such uncertainty and were obtained in a paths-to-justice survey of 7,292 owners and managers of SMEs and 101 in-depth interviews. The findings are interpreted using the author's concept of “uncertainty translation”, rooted in Luhmann's systems theory. It suggests that business organisations such as SMEs deal with the ubiquitous uncertainty in their operations by translating it into a convenient type.

Findings

The study distinguishes between formative and absorbing moral communication and finds that both types play a role in steering the uncertainty translation mechanism in SMEs. Six scenarios of invoking moral communication are identified in SMEs dealing with legal uncertainty. In such scenarios, moral communication facilitates the translation of business uncertainty “away from law”. Under some circumstances, this, in turn, leads to latent systematic results, reflexively affecting the legal system, the economic system and the SMEs.

Research limitations/implications

In its core argument, the study is based on qualitative material. While it identifies empirical scenarios of invoking moral communication, it does not report the prevalence of these scenarios due to methodological limitations.

Originality/value

The study results pose questions related to the staple theoretical issue in post-Luhmannian social systems theory: functional differentiation. If moral communication–a type of communication not linked to any social system–can produce far-reaching, systematic results that affect function systems, then the functional differentiation thesis should be less pronounced than Luhmann typically stressed. This said, the paper argues that the contradiction between the findings and Luhmannian theory of morality is only apparent and may be reconciled.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

To view the access options for this content please click here
Article
Publication date: 9 August 2021

Jitendra Nenavani and Rajesh K. Jain

The purpose of this paper is to examine the impact of strategic supplier partnership and customer relationship on supply chain responsiveness and then to analyse the…

Abstract

Purpose

The purpose of this paper is to examine the impact of strategic supplier partnership and customer relationship on supply chain responsiveness and then to analyse the influence of supply chain responsiveness on operational performance in the manufacturing industry in India. In addition to that, this study also investigates the moderating effects of demand uncertainty on the relationship between strategic supplier partnership–supply chain responsiveness and customer relationship–supply chain responsiveness.

Design/methodology/approach

A structured self-administered questionnaire was developed to collect data from manufacturing companies in India. This study performed the structural equation modelling and moderated regression for testing the hypotheses after ensuring the validity and reliability of identified constructs.

Findings

Strategic supplier partnership and customer relationship positively influence supply chain responsiveness, and supply chain responsiveness also positively impacts operational performance. In addition to that, demand uncertainty negatively moderates the relationship between strategic supplier partnership and supply chain responsiveness. However, demand uncertainty does not significantly affect the relationship between customer relationship and supply chain responsiveness.

Originality/value

Strategic supplier partnership and customer relationship are firstly investigated as antecedents of supply chain responsiveness. To the best of the author’s knowledge, this study is one of the first to examine the moderating effect of demand uncertainty on the relationship between supply chain practices (strategic supplier partnership and customer relationship) and supply chain responsiveness.

Details

Journal of Business & Industrial Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0885-8624

Keywords

To view the access options for this content please click here
Article
Publication date: 16 August 2021

Muhammad Usman Anwar Baig and Sayyed Muhammad Mehdi Raza Naqvi

It is commonly observed in trainings that all trainees do not get satisfied with the performance of the trainer. The usual way to increase the satisfaction of trainees is…

Abstract

Purpose

It is commonly observed in trainings that all trainees do not get satisfied with the performance of the trainer. The usual way to increase the satisfaction of trainees is a stress on improving task communication of the trainer. It is based on the assumption that effective task communication essentially fosters training effectiveness. This study aims to provide preliminary evidence that effective task communication can also obstruct training effectiveness besides promoting it. To achieve this objective, the authors hypothesized a dual-process model of training effectiveness based on uncertainty reduction theory.

Design/methodology/approach

This was a field study in which the authors collected time-lagged data from seven trainings. The trainings were designed to impart technical knowledge of multilevel analyses to professional social science researchers. Confirmatory factor analysis for ordinal indicators was used to test the measurement properties of the model and scales. Structural equation modeling for ordinal indicators was used to test hypotheses.

Findings

This study provided evidence of an overall positive effect of the trainer’s task communication on the trainee’s communication satisfaction. A complex mediation analysis also revealed the existence of two opposite psychological processes. While the first process transmitted the positive effect of task communication to communication satisfaction, the other process diminished this positive effect. Implications for the theory and practice of training are discussed.

Originality/value

Training scholars and practitioners universally believe that an effective task communication of trainers essentially promotes training effectiveness. This study has provided empirical evidence that this assumption is an incomplete picture of a complex reality that requires further investigation.

Details

European Journal of Training and Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2046-9012

Keywords

To view the access options for this content please click here
Article
Publication date: 10 June 2020

Nick French

An understanding of uncertainty has always been an integral part of property valuations. No valuation is certain, and the valuer needs to convey to the user of the…

Abstract

Purpose

An understanding of uncertainty has always been an integral part of property valuations. No valuation is certain, and the valuer needs to convey to the user of the valuation in the degree of uncertainty pertaining to the market value.

Design/methodology/approach

This practice briefing is a short overview of the importance of understanding uncertainty in valuation in normal markets and the particular difficulties now with the material uncertainty created by the COVID-19 pandemic.

Findings

This paper discusses how important it is for the valuer and the client to communicate and understand the uncertainty in the market at any point of time. The COVID-19 has had a significant impact on property values and the importance of clarity within valuation reports.

Practical implications

This paper looks at the importance of placing capital and rental value changes due to material uncertainty in valuation reports.

Originality/value

This provides guidance on how professional bodies are advising their members, around the world, on how to report valuations and market value in the context of material uncertainty.

Details

Journal of Property Investment & Finance, vol. 38 no. 5
Type: Research Article
ISSN: 1463-578X

Keywords

To view the access options for this content please click here
Article
Publication date: 8 July 2021

Yongsuk Yun and Hongmin Chun

This paper aims to examine the association between economic policy uncertainty (EPU) and audit effort by focusing on audit hours. This paper also explores whether…

Abstract

Purpose

This paper aims to examine the association between economic policy uncertainty (EPU) and audit effort by focusing on audit hours. This paper also explores whether significant political uncertainty might amplify the positive association between EPU and audit effort by focusing on Korea.

Design/methodology/approach

This study uses 21,543 Korean firm-year observations from 2005 to 2018 in an audit hour determinant model, as well as EPU following Baker et al. (2016) and audit hour to proxy audit effort.

Findings

EPU is positively associated with audit hours, indicating that auditors work more audit hours in response to firms’ high EPU resulting from higher earnings manipulation risk. Further, whether this positive association between EPU and audit effort might be altered by significant political uncertainty is investigated using a presidential election dummy. The empirical results show that auditors work additional audit hours during fiscal years in which presidential elections occur, given high EPU.

Originality/value

To the best of the authors’ knowledge, this paper might be the first empirical attempt to use audit hour data with EPU to provide practical implications to academia or auditors.

Details

Managerial Auditing Journal, vol. 36 no. 4
Type: Research Article
ISSN: 0268-6902

Keywords

1 – 10 of over 82000