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This study aims to examine the impact of economic policy uncertainty (EPU) on firm investment in corporate social responsibility (CSR)’s environmental, social and governance (ESG) dimensions. Additionally, the study examines whether firm size moderates the EPU–CSR relationship.

The sample includes 2,017 US. firms from 2002 to 2018. Data on ESG scores are drawn from the Asset-4 database in Thomson Reuters to measure CSR investment. ordinary least square regression, including fixed effects at the year and industry level, is used as the main econometric specification. Moreover, the study employed the two-step system Generalized Method of Moments to address the endogeneity concerns.

The findings reveal that firms increase their CSR investment in response to high EPU. The results are consistent in all the three ESG/CSR dimensions: ESG. Moreover, the positive association between EPU and CSR is driven by firm size, indicating that large-sized firms have the resources and incentives to invest more in CSR. Our main findings remain consistent after addressing the endogeneity concerns and controlling for the effect of omitted variable biasness.

Using a unique sample of US firms, this study empirically contributes to the current literature on the association between EPU and CSR investment. Moreover, firm size plays a vital role in moderating this relationship.

This study examines the effects of foreign and domestic institutional investors on the value of excess cash holdings in the context of Pakistan where the institutional setting is broadly considered as non-friendly to outside shareholders due to family control.

A panel sample of 220 listed firms on the Pakistan Stock Exchange (PSX) was employed over the period 2007–2018. Data on institutional ownership are collected from the Standard & Poor’s (S&P) Capital IQ Public Ownership database, while the financial data are collected from Compustat Global. The study uses ordinary least squares (OLS) regression with year and firm fixed effects as the main econometric specification. Moreover, the application of models with alternative measures, high-dimensional fixed effects and two-stage least squares (2SLS) regression are also conducted for robustness.

Robust evidence was found that unlike domestic institutional investors, which do not influence the value of excess cash holdings, foreign institutional investors positively affect the contribution of excess cash holdings to firm value. The positive effect on excess cash holdings' value is mainly driven by foreign institutions domiciled in countries with strong governance and high investor protection. Moreover, this effect is stronger in firms that are less likely to have financial constraints.

This study provides novel evidence on the effect of institutional investors on the value of excess cash holdings in an emerging market like Pakistan. It also adds to the literature by revealing that the effect of different groups of institutional investors on the value of excess cash holdings is not homogenous.

The purpose of this paper is to test the relationship of process approach (PA), customer focus approach (CFA) and school quality with the moderation of professional certification of school principal to fill the gap of quality management practices in private schools.

Study applied quantitative design with the sample of 401 principals of private schools. Questionnaires were adapted from different studies, and pilot study was carried out. Confirmatory factor analysis was done along with structural equation modeling.

Results indicate that the process approach has a significant effect on functional quality and academic quality of schools. Customer focus approach medicates the relationship of process approach and functional quality. The study found no evidence of the relationship of moderation of professional certification of school principal with process approach, functional quality and academic quality.

Study contributed through the generation of new dimensions of school quality, putting professional degree of school principal as a moderator and by providing basis to understand the implementation of quality management system in schools. The outcomes of study will guide school managers to implement the process management approach to improve the school quality.

Originality of the study is defined in three ways; first, it is first study that examines the relationship of process approach, customer focus approach and school quality with the moderation of professional certification of principal. Second, it chooses “single” schools that have not been subject of any quantitative research exclusively. Third, it is a first attempt to examine the working of private schools in Pakistan with respect to quality management principles.

In current era, firms are facing difficulties in aligning their capabilities with the hallmarks of the knowledge-intensive economy. Notwithstanding the fact that employees’ creativity ensures competitive advantage through innovation, firms are unable to reap the required level of performance. The purpose of this paper is to investigate the linkage among knowledge processes, employee creativity and firm performance. Moreover, the current quantitative study measures the moderating effect of a knowledge-intensive culture on knowledge processes and employee creativity.

Surveys were conducted in eight services sector organizations operating in southern Punjab, Pakistan, and responses were obtained from 197 employees selected at random. To test the exposition using an empirical data analysis approach, three core hypotheses are drawn, and to test these hypotheses, multiple regression analyses, Preacher and Hayes (2004) mediation analysis and Aguinis (2004) guidelines were applied on 197 responses.

The results explain that knowledge processes have a positive impact on firm performance and employee creativity partially mediates their stated relationship. Moreover, a knowledge-intensive culture has a strengthening effect on the relationship between knowledge processes and employee creativity. In-depth investigation outlines that knowledge acquisition, sharing and application are more influencing processes to enhance firm performance. Furthermore, knowledge conversion and protection do not hold significant relevance with firm performance but are supportive elements for other processes.

In order to have a sustained performance, firms have to initiate steps to promote employees’ creativity by deploying an optimal mix of knowledge processes and flourish a knowledge-intensive culture in routine organizational life. Moreover, knowledge processes are important to promote creative behavior in employees that will lead to incessant innovation and firm performance.

This study gives meaningful thoughts to unexplored areas in the field of knowledge management. First, the indirect effect of knowledge processes on firm performance through employees’ creativity. Second, the importance of knowledge processes to enhance employees’ creativity in the presence of a knowledge-intensive culture. This study gets together the dynamic constructs in the field of knowledge management, such as knowledge-intensive culture and employee creativity, and describes the linkage between knowledge processes and firm performance.

The transformation of firms from resource-based-view to knowledge-based-view has extended the importance of organizational learning. Thus, this study aims to develop an organizational learning model through transformational leadership with indirect effect of knowledge management process capability and interactive role of knowledge-intensive culture.

Different statistical analyses were done to check the direct, indirect and interactive effects on 204 valid responses.

The results are clearly depicting that transformational leadership has significant positive impact on organizational learning and knowledge management process capability, and partially mediates the relationship between transformational leadership and organizational learning. Additionally, knowledge-intensive culture has strengthened the relationship between transformational leadership and knowledge management process capability.

This is an overarching and unique conceptual model. After examining the importance of organizational learning in the context of innovative ability, competitive advantage, creativity and organizational performance, management has to initiate steps to induct transformational leaders, develop knowledge-intensive culture and introduce knowledge management processes to boost learning environment in organizations.

This study examines whether and how the legal origin of foreign institutional investors (FIIs) impacts corporate investment efficiency.

The study employs a large panel dataset of firms from 32 non-USA countries from 2005 to 2018. Financial and institutional ownership data are obtained from the COMPUSTAT Global and Public Ownership databases in S&P Capital IQ, respectively. The study employed ordinary least squares (OLS) regression with year and firm fixed effects. In addition, two-stage least squares with instrumental variable regression (2SLS-IV) and propensity score matching (PSM) approaches were employed to address the potential endogeneity.

The findings of this study suggest that common- and civil-law FIIs differ in their monitoring capabilities to promote investment efficiency. The authors find evidence that increased equity ownership by common-law FIIs, not civil-law investors, strengthens the investment-Q sensitivity, resulting in higher investment efficiency. Consistent with the monitoring and information channel, the results further indicate that the positive impact of common-law FIIs on investment efficiency is stronger in host environments susceptible to agency conflicts and information asymmetry.

This study offers novel evidence on the heterogeneous monitoring role of FIIs with regard to their home countries' legal origins and their impact on investment efficiency in an international context.

Using a comprehensive sample from developed and emerging economies, this study aims to examine whether foreign institutional investors (FIIs) enhance the value of excess cash by constraining the potential self-appropriating managerial propensity related to its inefficient utilization.

This study uses a large panel data set of firms from 32 non-US countries from 2007 to 2018. Using data from COMPUSTAT Global and S&P Capital IQ, this study uses ordinary least squares regression with year- and firm-fixed effects for the baseline analysis. In addition, two-stage least squares with instrumental variable regression and propensity score matching approaches were used to address the potential endogeneity.

This study shows that FIIs significantly increase the value of excess cash holdings. The authors also found that the positive impact of FIIs is more significant when investors come from common-law countries with better governance and investor protection. Furthermore, in countries and firms with weaker governance controls, the relationship between FIIs and the value of excess cash is stronger, consistent with the institutional monitoring hypothesis. Collectively, the findings imply that FIIs are advantageous to investees because they effectively promote the efficient deployment of corporate resources.

Collectively, the findings of this study imply that FIIs are advantageous to investees because they effectively promote the efficient deployment of corporate resources.

This study offers new evidence on how FIIs impact the value of excess cash in an international setting. In addition, it highlights the significance of the legal origin of institutional investors’ home country and the governance quality of host countries and investee firms in influencing the effect of foreign institutional monitoring on the value of excess cash.

The aim of this study is to investigate the effect of foreign institutional investors (FII) on the contribution of cash and dividend to firm's value in the context of Japan.

This study used a sample of 1,929 nonfinancial firms listed in Tokyo Stock Exchange in the period from 2002 to 2016. For data analysis, pooled OLS regression with firm and year fixed effect is applied. Further, the p-value of difference is used to test the null hypothesis of equal coefficients.

The findings depict that cash holdings contribute more to firm's value when ownership by FII is high. Contrarily, dividends contribute more to firm's value when ownership by FII is low. The results remain consistent after using excess cash holdings instead of cash holdings and after re-estimating the main regression model in the presence of top 30% and bottom 30% ownership level.

This study is limited to Japanese nonfinancial sector. The results implied that firms where the probability of managerial agency cost and expropriation of cash is high, the presence of FII mitigates the agency cost and positively influences the contribution of cash to firm's value. Overall, this research highlighted the disciplinary and monitoring role of FII in Japan.

This study provides new insights on the monitoring and governance role of foreign institutions, showing that FII promote better cash management and utilization, which significantly affects the contribution of cash holdings to firm's value.

This study aims to determine the correlation of anthropometric measurements with serum lipid profile among Malay subjects in Kuala Terengganu, Malaysia.

This cross-sectional study was conducted in Kuala Terengganu on a total of 193 individuals aged 18-60 years. Subjects were recruited via direct interview as per inclusion criteria and anthropometric measurements, i.e. body mass index (BMI), waist circumference (WC), hip circumference (HC), waist-to-hip ratio (WHR), waist-to-height ratio, abdominal volume index and conicity index, were taken using International Standards for Anthropometric Assessment Guidelines. Fasting blood samples were collected for serum lipid profile analysis that measures triglyceride (TG), total cholesterol (TC), high-density lipoproteins (HDL), low-density lipoproteins (LDL), TG/HDL, TC/HDL and LDL/HDL. Besides socio-demographic characteristics, means and association of anthropometric parameters with lipid profiles were performed using simple linear regression and multivariate-adjusted regression analysis.

The mean age of obese (male [39.2 ± 8.7] and female [41.1 ± 1.0]) and non-obese (male [29.8 ± 1.3] and female [33.3 ± 1.3]) respondents was compared. Means of anthropometric indices and lipid profile were significantly (p < 0.001) higher in obese than in non-obese group. Multivariate-adjusted regression showed that weight and BMI increased risks for prevalent high TC, TG, LDL, TC/HDL, TG/HDL, LDL/HDL, hypercholesterolemia, hypertriglyceridemia and dyslipidemia. Regardless of sex, age and prevalent obese status, WHR increased risks for high prevalence of TC, TG, LDL, TC/HDL and LDL/HDL, and presents an independent risk factor for hypercholesterolemia and dyslipidemia. WC was highly associated with TG, while HC was associated with atherogenic lipid profile ratios: TC/HDL, TG/HDL and LDL/HDL.

In conclusion, the lipid profile (TC, TG and TG/HDL) of triglyceridemia and hypercholesteremia is highly correlated with anthropometric measurements (BMI, WC and WHR) of central obesity that predict obesity-associated cardiac risks.

The current study aims to achieve two targets. First, examine empirically that whether corporate managers use tax avoidance to influence short-term profitability? Second, investigate the impact of tax avoidance on the value of firms. The tax accounts provide the opportunity to influence temporary/permanent profitability but empirical studies overlooking this matter, particularly in emerging economies.

First, the authors identified unexpected fluctuations of tax avoidance and then examine whether it impacts the profitability signal and firms' value? The unbalanced panel data of 189 non-financial firms for the period 2000–2018 are used for empirical analysis. The estimation biases and results consistency are verified by using two different econometric models including generalized least square and two-stage least square

The study identifies that managers manipulate the profitability signal through tax avoidance. Tax avoidance practices help in earning management and earning smoothing to avoid negative signals in the stock market. In line with the behavioral finance view, tax avoidance has a positive impact on current stock returns because investors focus on profitability without a detailed screening of cash flows.

A limited number of studies investigate the use of tax avoidance for manipulation of the short-term earning signal. Identifying gaps and limitations in the literature, this study provides invaluable insights into tax avoidance and its association with the profitability and value of firms. The findings are important for investors, managers and policymakers in making portfolio decisions and corporate policies.