Journal of Economic and Administrative SciencesTable of Contents for Journal of Economic and Administrative Sciences. List of articles from the current issue, including Just Accepted (EarlyCite)https://www.emerald.com/insight/publication/issn/1026-4116/vol/40/iss/1?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestJournal of Economic and Administrative SciencesEmerald Publishing LimitedJournal of Economic and Administrative SciencesJournal of Economic and Administrative Scienceshttps://www.emerald.com/insight/proxy/containerImg?link=/resource/publication/journal/55805a09f22f883569dc56da4e92bef4/urn:emeraldgroup.com:asset:id:binary:jeas.cover.jpghttps://www.emerald.com/insight/publication/issn/1026-4116/vol/40/iss/1?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestGuest editorial: Guest editorial for special issue on RCEPhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2024-273/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestGuest editorial: Guest editorial for special issue on RCEPGuest editorial: Guest editorial for special issue on RCEP
Badar Alam Iqbal, Mohd Nayyer Rahman
Journal of Economic and Administrative Sciences, Vol. 40, No. 1, pp.1-3]]>
Guest editorial: Guest editorial for special issue on RCEP10.1108/JEAS-03-2024-273Journal of Economic and Administrative Sciences2024-02-29© 2024 Emerald Publishing LimitedBadar Alam IqbalMohd Nayyer RahmanJournal of Economic and Administrative Sciences4012024-02-2910.1108/JEAS-03-2024-273https://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2024-273/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Has the Regional Comprehensive Economic Partnership (RCEP) negotiations impacted on tourism flows of member countries?https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2022-0120/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestUsing panel data for the Regional Comprehensive Economic Partnership (RCEP) member states, the present study explored the role of RCEP negotiations on tourism development. A dynamic econometric model, namely the panel autoregressive dynamic lag model (PARDL) has been used. To test for panel causality, Dumitrescu–Hurlin panel causality tests were used. Through the use of a dynamic econometric model, namely the PARDL, the results show that the RCEP negotiations, growth rates, as well as international trade contribute towards tourism development. Furthermore, the Dumitrescu–Hurlin panel causality tests confirm the existence of a bidirectional causal link between tourism development and RCEP negotiations. Finally, a unidirectional causal link is observed between tourism development and international trade. This existing evidence on the topic seems to be very scant and limited to specific regions and particular regional trade agreements. This paper thus fills an important gap in the literature by advancing evidence about the effects of the RCEP on international tourism flows across member countries.Has the Regional Comprehensive Economic Partnership (RCEP) negotiations impacted on tourism flows of member countries?
Sheereen Banon Fauzel, Verena Tandrayen-Ragoobur, Boopen Seetanah
Journal of Economic and Administrative Sciences, Vol. 40, No. 1, pp.4-22

Using panel data for the Regional Comprehensive Economic Partnership (RCEP) member states, the present study explored the role of RCEP negotiations on tourism development.

A dynamic econometric model, namely the panel autoregressive dynamic lag model (PARDL) has been used. To test for panel causality, Dumitrescu–Hurlin panel causality tests were used.

Through the use of a dynamic econometric model, namely the PARDL, the results show that the RCEP negotiations, growth rates, as well as international trade contribute towards tourism development. Furthermore, the Dumitrescu–Hurlin panel causality tests confirm the existence of a bidirectional causal link between tourism development and RCEP negotiations. Finally, a unidirectional causal link is observed between tourism development and international trade.

This existing evidence on the topic seems to be very scant and limited to specific regions and particular regional trade agreements. This paper thus fills an important gap in the literature by advancing evidence about the effects of the RCEP on international tourism flows across member countries.

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Has the Regional Comprehensive Economic Partnership (RCEP) negotiations impacted on tourism flows of member countries?10.1108/JEAS-05-2022-0120Journal of Economic and Administrative Sciences2023-10-24© 2023 Emerald Publishing LimitedSheereen Banon FauzelVerena Tandrayen-RagooburBoopen SeetanahJournal of Economic and Administrative Sciences4012023-10-2410.1108/JEAS-05-2022-0120https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2022-0120/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Exploring the impact of RCEP on Malaysia: insights from select manufacturing industrieshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2022-0258/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestRegional comprehensive economic partnership (RCEP) is understood as the world's largest trading bloc given its contribution to the world output (30%). The mega trade bloc brings together 15 countries of East Asia, Southeast Asia and Oceania to eliminate tariff and non-tariff barriers in goods and services trade. The study suggests the importance of sector specific reforms for Malaysia to strengthen domestic capability. The analytical framework constructs upon the partial equilibrium analysis and uses WITS SMART simulations. The study finds that Malaysia's elimination of tariffs under the RCEP will cause a surge in imports from developed member countries of RCEP like Australia, South Korea and Japan. The study also finds a trade diversion in countries such as India. The empirical results establishes that RCEP would further strengthen intra-ASEAN trade. The study explores select sectors of the manufacturing industry in Malaysia. The implementation of RCEP would impact the manufacturing sector immensely, especially in sectors like electrical machinery and equipment and inorganic chemicals, which are two of the major trading commodities of the Malaysian economy. Any trade agreement has a larger impact on the society. It may raise income, boost the consumer preferences and create or erode consumer welfare. The study reports the consumer welfare effect of the implementation of RCEP in Malaysia. The study is the first attempt to do a partial equilibrium analysis for the electrical machinery and equipment sector and inorganic chemicals sector of Malaysia using both aggregated and disaggregated data at HS two-digit and HS six-digit level.Exploring the impact of RCEP on Malaysia: insights from select manufacturing industries
Nida Rahman, Krishan Sharma
Journal of Economic and Administrative Sciences, Vol. 40, No. 1, pp.23-36

Regional comprehensive economic partnership (RCEP) is understood as the world's largest trading bloc given its contribution to the world output (30%). The mega trade bloc brings together 15 countries of East Asia, Southeast Asia and Oceania to eliminate tariff and non-tariff barriers in goods and services trade. The study suggests the importance of sector specific reforms for Malaysia to strengthen domestic capability.

The analytical framework constructs upon the partial equilibrium analysis and uses WITS SMART simulations.

The study finds that Malaysia's elimination of tariffs under the RCEP will cause a surge in imports from developed member countries of RCEP like Australia, South Korea and Japan. The study also finds a trade diversion in countries such as India. The empirical results establishes that RCEP would further strengthen intra-ASEAN trade.

The study explores select sectors of the manufacturing industry in Malaysia.

The implementation of RCEP would impact the manufacturing sector immensely, especially in sectors like electrical machinery and equipment and inorganic chemicals, which are two of the major trading commodities of the Malaysian economy.

Any trade agreement has a larger impact on the society. It may raise income, boost the consumer preferences and create or erode consumer welfare. The study reports the consumer welfare effect of the implementation of RCEP in Malaysia.

The study is the first attempt to do a partial equilibrium analysis for the electrical machinery and equipment sector and inorganic chemicals sector of Malaysia using both aggregated and disaggregated data at HS two-digit and HS six-digit level.

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Exploring the impact of RCEP on Malaysia: insights from select manufacturing industries10.1108/JEAS-11-2022-0258Journal of Economic and Administrative Sciences2023-04-03© 2023 Emerald Publishing LimitedNida RahmanKrishan SharmaJournal of Economic and Administrative Sciences4012023-04-0310.1108/JEAS-11-2022-0258https://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2022-0258/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Impact of government responses to COVID-19 on the resilience of FDI attractiveness factors in the Asian regionhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2022-0085/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this paper is twofold. Firstly, the paper aims to determine the separate effects of the COVID-19 pandemic and government actions represented by the index of stringency, containment and economic support on the attractiveness of foreign direct investment (FDI). Secondly, the paper aims to explore the impact of the interactions between the COVID-19 epidemic and government interventions on FDI. The study uses a panel data set of 30 Asian countries during the two pandemic years 2020 and 2021 to investigate the effect of government actions on the resilience of FDI attractiveness factors. The empirical results reveal the negative effect of COVID-19 on FDI inflows and attractiveness factors. However, government responses have a positive and statistically significant effect on the FDI attractiveness factors such as economic growth, trade openness and human and technological capital development and contribute to the economic recovery of the Asian region. The empirical findings can provide useful information for policymakers in designing macroeconomic policies and taking government measures to improve their investment environment and attract FDI. The study shows that government responses, economic support, containment and health policies are effective in containing viruses, reducing the impact of the COVID-19 pandemic and strengthening resilience in FDI attractiveness factors. It also indicates that foreign investors are responding positively to government measures.Impact of government responses to COVID-19 on the resilience of FDI attractiveness factors in the Asian region
Souhaila Kammoun, Youssra Ben Romdhane
Journal of Economic and Administrative Sciences, Vol. 40, No. 1, pp.37-56

The purpose of this paper is twofold. Firstly, the paper aims to determine the separate effects of the COVID-19 pandemic and government actions represented by the index of stringency, containment and economic support on the attractiveness of foreign direct investment (FDI). Secondly, the paper aims to explore the impact of the interactions between the COVID-19 epidemic and government interventions on FDI.

The study uses a panel data set of 30 Asian countries during the two pandemic years 2020 and 2021 to investigate the effect of government actions on the resilience of FDI attractiveness factors.

The empirical results reveal the negative effect of COVID-19 on FDI inflows and attractiveness factors. However, government responses have a positive and statistically significant effect on the FDI attractiveness factors such as economic growth, trade openness and human and technological capital development and contribute to the economic recovery of the Asian region.

The empirical findings can provide useful information for policymakers in designing macroeconomic policies and taking government measures to improve their investment environment and attract FDI.

The study shows that government responses, economic support, containment and health policies are effective in containing viruses, reducing the impact of the COVID-19 pandemic and strengthening resilience in FDI attractiveness factors. It also indicates that foreign investors are responding positively to government measures.

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Impact of government responses to COVID-19 on the resilience of FDI attractiveness factors in the Asian region10.1108/JEAS-03-2022-0085Journal of Economic and Administrative Sciences2022-11-15© 2022 Emerald Publishing LimitedSouhaila KammounYoussra Ben RomdhaneJournal of Economic and Administrative Sciences4012022-11-1510.1108/JEAS-03-2022-0085https://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2022-0085/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
The Regional Comprehensive Economic Partnership (RCEP) for the Asia–Pacific region and worldhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-02-2022-0035/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe regional comprehensive economic partnership (RCEP) is promising as per the claims and can be revolutionary for the Asia–Pacific Region. The member countries will get a boost in the post-pandemic world due to the RCEP. According to Brookings, the RCEP is going to be an agreement reshaping the global economics. This study aims to clarify the aspects related to the RCEP and how it can boost global economics. The study employs qualitative descriptive analysis to address the status of RCEP in the region and the consequences of such main transnational partnership. The study is based on economic reports, official documents and data directly related to the subject of the study. Findings show that the RCEP will be a significant driver of regional trade despite its faults. The RCEP's tariff benefits and rules of origin, notwithstanding their relatively restricted scope, will encourage enterprises to source products and services from RCEP members, and in combination, RCEP and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are anticipated to replace at least some competing US commodities, services and farm exports. For items that integrate parts and components from inside the area, such as from China, the RCEP is projected to reduce tax and trade facilitation costs, allowing enterprises to avoid US Section 301 tariffs. By examining how the RCEP operates within the framework of domestic and international trade, this study contributes to a deeper understanding of RCEP and analyses its nature based on data and official reports.The Regional Comprehensive Economic Partnership (RCEP) for the Asia–Pacific region and world
Mohamad Zreik
Journal of Economic and Administrative Sciences, Vol. 40, No. 1, pp.57-75

The regional comprehensive economic partnership (RCEP) is promising as per the claims and can be revolutionary for the Asia–Pacific Region. The member countries will get a boost in the post-pandemic world due to the RCEP. According to Brookings, the RCEP is going to be an agreement reshaping the global economics. This study aims to clarify the aspects related to the RCEP and how it can boost global economics.

The study employs qualitative descriptive analysis to address the status of RCEP in the region and the consequences of such main transnational partnership. The study is based on economic reports, official documents and data directly related to the subject of the study.

Findings show that the RCEP will be a significant driver of regional trade despite its faults. The RCEP's tariff benefits and rules of origin, notwithstanding their relatively restricted scope, will encourage enterprises to source products and services from RCEP members, and in combination, RCEP and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are anticipated to replace at least some competing US commodities, services and farm exports. For items that integrate parts and components from inside the area, such as from China, the RCEP is projected to reduce tax and trade facilitation costs, allowing enterprises to avoid US Section 301 tariffs.

By examining how the RCEP operates within the framework of domestic and international trade, this study contributes to a deeper understanding of RCEP and analyses its nature based on data and official reports.

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The Regional Comprehensive Economic Partnership (RCEP) for the Asia–Pacific region and world10.1108/JEAS-02-2022-0035Journal of Economic and Administrative Sciences2022-12-23© 2022 Emerald Publishing LimitedMohamad ZreikJournal of Economic and Administrative Sciences4012022-12-2310.1108/JEAS-02-2022-0035https://www.emerald.com/insight/content/doi/10.1108/JEAS-02-2022-0035/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Heterogeneous analysis of free trade agreement between Pakistan and China: a policy guideline for CPEChttps://www.emerald.com/insight/content/doi/10.1108/JEAS-02-2022-0051/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestEconomic ties and formation of trade blocks escalates the movement of goods among the participants and bring different economic and structural changes. Therefore, the current research emphasises on the distribution of market structure and industrial value added among the participant countries of China–Pakistan economic corridor project while focussing on pre and post FTA status. This study utilises the footloose capital model for analysing whether China or Pakistan is more suitable for attracting factors of production to increase their share of industrial value added. For econometric analyses the current research utilises data from 1995 to 2018 and maximum likelihood effect method to assess factors that affect regional value-added distribution. Results show that both countries owe different level of economic developments. Effect of capital is, comparatively, similar for both countries while Pakistan supports trade openness which points towards the fact of positive utilisation of abundant labour resources in Pakistan by establishing industrial structure either through domestic capital formation or foreign investment. Whereas, share of labour and trade openness of China positively affect value added production of China. This is one of the unique studies that studies the regional economic treaties usefulness for any developing country across Asia. Where this study uses the footloose capital model and maximum likelihood method for its analysis which is not previously done, while for detailed analyses the study further divides the timeframe into two parts as pre-FTA ranges from 1995 to 2006, post-FTA from 2007 to 2018 while overall results consist of whole-time frame.Heterogeneous analysis of free trade agreement between Pakistan and China: a policy guideline for CPEC
Muhammad Imran, Abdul Sattar, Md Shabbir Alam
Journal of Economic and Administrative Sciences, Vol. 40, No. 1, pp.76-94

Economic ties and formation of trade blocks escalates the movement of goods among the participants and bring different economic and structural changes. Therefore, the current research emphasises on the distribution of market structure and industrial value added among the participant countries of China–Pakistan economic corridor project while focussing on pre and post FTA status.

This study utilises the footloose capital model for analysing whether China or Pakistan is more suitable for attracting factors of production to increase their share of industrial value added. For econometric analyses the current research utilises data from 1995 to 2018 and maximum likelihood effect method to assess factors that affect regional value-added distribution.

Results show that both countries owe different level of economic developments. Effect of capital is, comparatively, similar for both countries while Pakistan supports trade openness which points towards the fact of positive utilisation of abundant labour resources in Pakistan by establishing industrial structure either through domestic capital formation or foreign investment. Whereas, share of labour and trade openness of China positively affect value added production of China.

This is one of the unique studies that studies the regional economic treaties usefulness for any developing country across Asia. Where this study uses the footloose capital model and maximum likelihood method for its analysis which is not previously done, while for detailed analyses the study further divides the timeframe into two parts as pre-FTA ranges from 1995 to 2006, post-FTA from 2007 to 2018 while overall results consist of whole-time frame.

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Heterogeneous analysis of free trade agreement between Pakistan and China: a policy guideline for CPEC10.1108/JEAS-02-2022-0051Journal of Economic and Administrative Sciences2022-12-06© 2022 Emerald Publishing LimitedMuhammad ImranAbdul SattarMd Shabbir AlamJournal of Economic and Administrative Sciences4012022-12-0610.1108/JEAS-02-2022-0051https://www.emerald.com/insight/content/doi/10.1108/JEAS-02-2022-0051/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
The causality relationship between foreign direct investment and economic growth in RCEP countrieshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2022-0112/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe direction of the causality relationship between Foreign Direct Investment (FDI) and economic growth is a highly controversial issue in the literature. There are two basic approaches advocating different causal directions between FDI and growth, which are called hypotheses of FDI-led Growth and Growth-led FDI. The aim of this study is to analyze the causality relationship between FDI and economic growth in RCEP countries and thus make a new contribution to the discussions in the relevant literature. In addition, the results of the study are expected to provide important implications for the policies to be designed for economic growth based on FDI flows to RCEP countries. Thus, by examining the direction of causality between FDI and economic growth in RCEP countries, we aim to provide a new contribution to related literature and make some implications for the policy design process of economic growth in the RCEP area. We empirically examined the direction of a causal link between FDI and economic growth in the context of Regional Comprehensive Economic Partnership (RPEC) countries in order to test the hypothesis of FDI-led growth and Growth-led FDI. Accordingly, as our main variables of interest, we incorporated the inward foreign direct investment stock to gross domestic product ratio (FDI) and gross domestic product per capita (GDP). Hatemi-J (2012) asymmetric causality test has been employed in the investigation of the direction of causality between FDI and GDP over the period of 1980–2020. Thus, unlike most of the studies investigating the direction of causality between FDI and growth using the linear causality analysis method, our study performed a nonlinear causality analysis. Empirical results reveal that the causal relationship between FDI and national income in RPEC countries is non-linear or asymmetric . The results of the symmetric causality test for both from FDI to national income and from national income to FDI are statistically insignificant for all countries. Therefore, this finding obtained from the study provided an important guide to the econometric methods to be used in other studies to be conducted in the same region in the future. Concerning the asymmetric causality relationship from FDI to growth, positive FDI shocks are an important cause of national income in most RCEP countries. However, the effect of negative FDI shocks on national income is quite weak compared to positive shocks. Regarding the asymmetric causality relationship from growth to FDI, positive national income shocks do not create a significant causal relationship with FDI. Similarly, the effects of negative national income shocks on FDI are statistically insignificant. Overall, asymmetric causality test results reveal that positive FDI shocks have an important causal impact on economic growth in most RCEP countries. Thus, the results of econometric analysis mostly support the argument that the FDI-led growth hypothesis rather than the Growth-led FDI hypothesis in RCEP countries. Accordingly, policy-makers in most of the RCEP countries should continue to provide more incentives and facilities to multinational companies in order to ensure constant economic growth. Our study brings a significant difference in the econometric method used compared to most of the other studies in the literature. Existing empirical studies on the direction of causality between FDI and growth mostly use standard Granger-linear causality-type tests to detect the direction of causality among FDI and growth. Unlike most of the studies in the literature, our study adopted a different methodological approach, namely the Hatemi J test to detect the non-linear causality between FDI and economic growth in RCEP countries. Therefore, this paper made a new methodological contribution significantly to the literature focusing on the causal relationship between FDI and economic growth by using a non-linear causality method rather than a linear causality one.The causality relationship between foreign direct investment and economic growth in RCEP countries
Özcan Karahan, Olcay Çolak
Journal of Economic and Administrative Sciences, Vol. 40, No. 1, pp.95-110

The direction of the causality relationship between Foreign Direct Investment (FDI) and economic growth is a highly controversial issue in the literature. There are two basic approaches advocating different causal directions between FDI and growth, which are called hypotheses of FDI-led Growth and Growth-led FDI. The aim of this study is to analyze the causality relationship between FDI and economic growth in RCEP countries and thus make a new contribution to the discussions in the relevant literature. In addition, the results of the study are expected to provide important implications for the policies to be designed for economic growth based on FDI flows to RCEP countries. Thus, by examining the direction of causality between FDI and economic growth in RCEP countries, we aim to provide a new contribution to related literature and make some implications for the policy design process of economic growth in the RCEP area.

We empirically examined the direction of a causal link between FDI and economic growth in the context of Regional Comprehensive Economic Partnership (RPEC) countries in order to test the hypothesis of FDI-led growth and Growth-led FDI. Accordingly, as our main variables of interest, we incorporated the inward foreign direct investment stock to gross domestic product ratio (FDI) and gross domestic product per capita (GDP). Hatemi-J (2012) asymmetric causality test has been employed in the investigation of the direction of causality between FDI and GDP over the period of 1980–2020. Thus, unlike most of the studies investigating the direction of causality between FDI and growth using the linear causality analysis method, our study performed a nonlinear causality analysis.

Empirical results reveal that the causal relationship between FDI and national income in RPEC countries is non-linear or asymmetric . The results of the symmetric causality test for both from FDI to national income and from national income to FDI are statistically insignificant for all countries. Therefore, this finding obtained from the study provided an important guide to the econometric methods to be used in other studies to be conducted in the same region in the future. Concerning the asymmetric causality relationship from FDI to growth, positive FDI shocks are an important cause of national income in most RCEP countries. However, the effect of negative FDI shocks on national income is quite weak compared to positive shocks. Regarding the asymmetric causality relationship from growth to FDI, positive national income shocks do not create a significant causal relationship with FDI. Similarly, the effects of negative national income shocks on FDI are statistically insignificant. Overall, asymmetric causality test results reveal that positive FDI shocks have an important causal impact on economic growth in most RCEP countries. Thus, the results of econometric analysis mostly support the argument that the FDI-led growth hypothesis rather than the Growth-led FDI hypothesis in RCEP countries. Accordingly, policy-makers in most of the RCEP countries should continue to provide more incentives and facilities to multinational companies in order to ensure constant economic growth.

Our study brings a significant difference in the econometric method used compared to most of the other studies in the literature. Existing empirical studies on the direction of causality between FDI and growth mostly use standard Granger-linear causality-type tests to detect the direction of causality among FDI and growth. Unlike most of the studies in the literature, our study adopted a different methodological approach, namely the Hatemi J test to detect the non-linear causality between FDI and economic growth in RCEP countries. Therefore, this paper made a new methodological contribution significantly to the literature focusing on the causal relationship between FDI and economic growth by using a non-linear causality method rather than a linear causality one.

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The causality relationship between foreign direct investment and economic growth in RCEP countries10.1108/JEAS-04-2022-0112Journal of Economic and Administrative Sciences2022-11-11© 2022 Emerald Publishing LimitedÖzcan KarahanOlcay ÇolakJournal of Economic and Administrative Sciences4012022-11-1110.1108/JEAS-04-2022-0112https://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2022-0112/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Evolution of RCEP rules of origin (comparison with ASEAN plus FTAs and recent mega-FTAs/EPAs)https://www.emerald.com/insight/content/doi/10.1108/JEAS-02-2022-0037/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this paper is to analyze the evolution of the rules of origin (RoO) of Regional Comprehensive Economic Partnership (RCEP). This analysis is done by comparing them with those of existing FTAs/EPAs of ASEAN with other RCEP member countries, and also examining the impact of recent mega-FTAs/EPAs, such as TPP11 and Japan-EU EPA, in which some of the member countries participated. RCEP holds great significance in that it connects Japan and China and Japan and South Korea, which previously have not had any EPAs/FTAs, transforms this massive economic sphere from one with minutely divided and differing RoO under ASEAN plus FTAs to one that is seamlessly connected with those of having evolved into the unified RoO under RCEP, and realizes ideal production networks in Asia. This paper makes it clear that RCEP, while based on ASEAN plus FTAs, reflects progressive provisions of recent mega-FTAs/EPAs, and adopts simpler and more systematic rules. These provisions limit the distortive effect on trade, realize ideal production networks in Asia, and are appropriate as uniform RoO connecting networks across this massive economic sphere. It also points out that there are provisions that have not been introduced and those that are considered to have been incomplete as a result of negotiations, and the possibility of evolving into more ideal RoO by utilizing the system for revisions established under the agreement.Evolution of RCEP rules of origin (comparison with ASEAN plus FTAs and recent mega-FTAs/EPAs)
Jitsuya Hasegawa
Journal of Economic and Administrative Sciences, Vol. 40, No. 1, pp.111-129

The purpose of this paper is to analyze the evolution of the rules of origin (RoO) of Regional Comprehensive Economic Partnership (RCEP).

This analysis is done by comparing them with those of existing FTAs/EPAs of ASEAN with other RCEP member countries, and also examining the impact of recent mega-FTAs/EPAs, such as TPP11 and Japan-EU EPA, in which some of the member countries participated.

RCEP holds great significance in that it connects Japan and China and Japan and South Korea, which previously have not had any EPAs/FTAs, transforms this massive economic sphere from one with minutely divided and differing RoO under ASEAN plus FTAs to one that is seamlessly connected with those of having evolved into the unified RoO under RCEP, and realizes ideal production networks in Asia.

This paper makes it clear that RCEP, while based on ASEAN plus FTAs, reflects progressive provisions of recent mega-FTAs/EPAs, and adopts simpler and more systematic rules. These provisions limit the distortive effect on trade, realize ideal production networks in Asia, and are appropriate as uniform RoO connecting networks across this massive economic sphere. It also points out that there are provisions that have not been introduced and those that are considered to have been incomplete as a result of negotiations, and the possibility of evolving into more ideal RoO by utilizing the system for revisions established under the agreement.

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Evolution of RCEP rules of origin (comparison with ASEAN plus FTAs and recent mega-FTAs/EPAs)10.1108/JEAS-02-2022-0037Journal of Economic and Administrative Sciences2022-12-20© 2022 Emerald Publishing LimitedJitsuya HasegawaJournal of Economic and Administrative Sciences4012022-12-2010.1108/JEAS-02-2022-0037https://www.emerald.com/insight/content/doi/10.1108/JEAS-02-2022-0037/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Emissions-foreign trade nexus: establishing the need to harmonize environment and economics in RCEPhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2022-0093/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis article investigates the impact of foreign trade on carbon emissions of the member countries of the largest trade bloc, the Regional Comprehensive Economic Partnership (RCEP). The aggregate bilateral trade with members of RCEP during the period 1991–2020 was considered for analysis. The study also examines the impact of foreign trade (between member countries) on economic development, represented by GDP per capita. Dumitrescu–Hurlin panel Granger causality test was conducted to understand the impact of foreign trade on GDP per capita and carbon emissions. Results indicate that though foreign trade is heterogeneously Granger causing GDP per capita, it also aggravates carbon emissions in RCEP bloc. The study is of significance to the policymakers in the member countries as it provides evidence to include climate impact in trade agreements. The wealthier RCEP member countries can support the green transition of low-income countries through transfer of eco-friendly technologies.Emissions-foreign trade nexus: establishing the need to harmonize environment and economics in RCEP
Nisha Prakash, Madhvi Sethi
Journal of Economic and Administrative Sciences, Vol. 40, No. 1, pp.130-141

This article investigates the impact of foreign trade on carbon emissions of the member countries of the largest trade bloc, the Regional Comprehensive Economic Partnership (RCEP).

The aggregate bilateral trade with members of RCEP during the period 1991–2020 was considered for analysis. The study also examines the impact of foreign trade (between member countries) on economic development, represented by GDP per capita. Dumitrescu–Hurlin panel Granger causality test was conducted to understand the impact of foreign trade on GDP per capita and carbon emissions.

Results indicate that though foreign trade is heterogeneously Granger causing GDP per capita, it also aggravates carbon emissions in RCEP bloc.

The study is of significance to the policymakers in the member countries as it provides evidence to include climate impact in trade agreements. The wealthier RCEP member countries can support the green transition of low-income countries through transfer of eco-friendly technologies.

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Emissions-foreign trade nexus: establishing the need to harmonize environment and economics in RCEP10.1108/JEAS-04-2022-0093Journal of Economic and Administrative Sciences2022-09-08© 2022 Emerald Publishing LimitedNisha PrakashMadhvi SethiJournal of Economic and Administrative Sciences4012022-09-0810.1108/JEAS-04-2022-0093https://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2022-0093/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Examining the relationship between health professionals' organizational commitment and job satisfaction: a systematic review and meta-analysishttps://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2021-0002/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis meta-analysis aimed to examine health professionals' job satisfaction and organizational commitment. This research was conducted using the meta-analysis method, one of the quantitative research methods. A preliminary literature search was conducted to determine keywords over the internet access network. With screening, keywords such as “Organizational commitment,” “Organizational loyalty,” “Job satisfaction,” “job satisfaction,” “Healthcare worker,” “Organizational commitment,” “Organizational faith,” “job satisfaction,” “Job saturation” keywords in Turkish and English were determined. Nine full-text articles published in peer-reviewed journals between 2014–2020 from the electronic databases of Google Scholar, Web of Science, Scopus, Science Direct, EKUAL and Google Academic were included in the meta-analysis. The study's effect size and publication bias included in the meta-analysis were calculated using the CMA 3 (Comprehensive meta-analysis) program. The total sample number of the studies included in the analysis is 7,218. According to the random effects model, the overall effect size between job satisfaction and organizational commitment was statistically significant, with a value of 0.544 (confidence interval [CI]; 0.445–0.629; p < 0.05). This effect size was found to be moderate, according to Cohen's classification. As a result of this meta-analysis, it was determined that there is a mutual interaction between job satisfaction and organizational commitment based on the cause–effect relationship. The findings obtained determined that job satisfaction has more power to affect organizational commitment positively.Examining the relationship between health professionals' organizational commitment and job satisfaction: a systematic review and meta-analysis
Fadime Çınar, Hasim Çapar, Samet Mermerkaya
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This meta-analysis aimed to examine health professionals' job satisfaction and organizational commitment.

This research was conducted using the meta-analysis method, one of the quantitative research methods. A preliminary literature search was conducted to determine keywords over the internet access network. With screening, keywords such as “Organizational commitment,” “Organizational loyalty,” “Job satisfaction,” “job satisfaction,” “Healthcare worker,” “Organizational commitment,” “Organizational faith,” “job satisfaction,” “Job saturation” keywords in Turkish and English were determined. Nine full-text articles published in peer-reviewed journals between 2014–2020 from the electronic databases of Google Scholar, Web of Science, Scopus, Science Direct, EKUAL and Google Academic were included in the meta-analysis. The study's effect size and publication bias included in the meta-analysis were calculated using the CMA 3 (Comprehensive meta-analysis) program.

The total sample number of the studies included in the analysis is 7,218. According to the random effects model, the overall effect size between job satisfaction and organizational commitment was statistically significant, with a value of 0.544 (confidence interval [CI]; 0.445–0.629; p < 0.05). This effect size was found to be moderate, according to Cohen's classification.

As a result of this meta-analysis, it was determined that there is a mutual interaction between job satisfaction and organizational commitment based on the cause–effect relationship. The findings obtained determined that job satisfaction has more power to affect organizational commitment positively.

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Examining the relationship between health professionals' organizational commitment and job satisfaction: a systematic review and meta-analysis10.1108/JEAS-01-2021-0002Journal of Economic and Administrative Sciences2022-03-22© 2022 Emerald Publishing LimitedFadime ÇınarHasim ÇaparSamet MermerkayaJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-03-2210.1108/JEAS-01-2021-0002https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2021-0002/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Middle-class people imagining democratic attitudes: the Pakistani experiencehttps://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0003/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestMeasuring and understanding the dynamics of democracy as well as democratic attitudes of people have become a big challenge for every democratic state. The study proposes the investigation of middle-class peoples’ attitudes towards democracy in Pakistan. The study employs a deductive approach based on cross-sectional data from Pakistan’s middle-class people. The researchers use a survey questionnaire through a convenience sampling technique. Finally, the study utilizes 1854 samples to conclude the findings. The evidence confirms that trust in public institutions and political engagement positively and significantly impact peoples’ democratic attitudes. In addition, the investigation witnessed the preference for democracy also supports understanding middle-class peoples’ democratic attitudes. The study would provide an endorsement for politicians of Pakistan to perceive the inclination of middle-class people towards democracy. The study would guide the researchers and policymakers and intellectualize the middle-class peoples’ opinions and attitudes. Moreover the study would support reflecting the public confidence in decision making and ability to deliver. Finally the study findings would contribute to the literature of political science and democracy to understand democratic attitudes mainly focusing on middle-class populations. This study empirically confirms the Pakistani middle-class peoples’ attitudes towards democracy.Middle-class people imagining democratic attitudes: the Pakistani experience
Naimatullah Shah, Bahadur Ali Soomro
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Measuring and understanding the dynamics of democracy as well as democratic attitudes of people have become a big challenge for every democratic state. The study proposes the investigation of middle-class peoples’ attitudes towards democracy in Pakistan.

The study employs a deductive approach based on cross-sectional data from Pakistan’s middle-class people. The researchers use a survey questionnaire through a convenience sampling technique. Finally, the study utilizes 1854 samples to conclude the findings.

The evidence confirms that trust in public institutions and political engagement positively and significantly impact peoples’ democratic attitudes. In addition, the investigation witnessed the preference for democracy also supports understanding middle-class peoples’ democratic attitudes.

The study would provide an endorsement for politicians of Pakistan to perceive the inclination of middle-class people towards democracy. The study would guide the researchers and policymakers and intellectualize the middle-class peoples’ opinions and attitudes. Moreover the study would support reflecting the public confidence in decision making and ability to deliver. Finally the study findings would contribute to the literature of political science and democracy to understand democratic attitudes mainly focusing on middle-class populations.

This study empirically confirms the Pakistani middle-class peoples’ attitudes towards democracy.

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Middle-class people imagining democratic attitudes: the Pakistani experience10.1108/JEAS-01-2022-0003Journal of Economic and Administrative Sciences2022-06-28© 2022 Emerald Publishing LimitedNaimatullah ShahBahadur Ali SoomroJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-06-2810.1108/JEAS-01-2022-0003https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0003/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
How economic globalization affects the ecological footprint in India? A novel dynamic ARDL simulationshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0005/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study scrutinizes the impact of economic globalization on ecological footprint while endogenizing economic growth and energy consumption during 1990–2018 in India. For time series analysis, the standard unit root test has been employed to unveil the integration order. Then, the cointegration was confirmed using autoregressive distributed lag (ARDL) analysis. Further, the study executed the dynamic ARDL simulation model to estimate long-run and short-run results along with simulation and robotic prediction. The cointegration analysis confirms the existence of a long-run association among variables. Further, economic globalization reduces the ecological footprint in the long-run. Similarly, energy consumption decreases the ecological footprint. In contrast, economic growth spurs the ecological footprint in India. The present study makes valuable and original contributions to the literature by applying a multivariate ecological footprint function, assessing the impact of economic globalization on ecological footprint while considering economic growth and energy consumption in India.How economic globalization affects the ecological footprint in India? A novel dynamic ARDL simulations
Muhammed Ashiq Villanthenkodath, Shreya Pal
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study scrutinizes the impact of economic globalization on ecological footprint while endogenizing economic growth and energy consumption during 1990–2018 in India.

For time series analysis, the standard unit root test has been employed to unveil the integration order. Then, the cointegration was confirmed using autoregressive distributed lag (ARDL) analysis. Further, the study executed the dynamic ARDL simulation model to estimate long-run and short-run results along with simulation and robotic prediction.

The cointegration analysis confirms the existence of a long-run association among variables. Further, economic globalization reduces the ecological footprint in the long-run. Similarly, energy consumption decreases the ecological footprint. In contrast, economic growth spurs the ecological footprint in India.

The present study makes valuable and original contributions to the literature by applying a multivariate ecological footprint function, assessing the impact of economic globalization on ecological footprint while considering economic growth and energy consumption in India.

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How economic globalization affects the ecological footprint in India? A novel dynamic ARDL simulations10.1108/JEAS-01-2022-0005Journal of Economic and Administrative Sciences2023-02-14© 2022 Emerald Publishing LimitedMuhammed Ashiq VillanthenkodathShreya PalJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-02-1410.1108/JEAS-01-2022-0005https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0005/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
The role of trust, opportunism and adaptation in coordination and contract cooperation: evidence from construction projectshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0008/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this paper is to examine the influence of clients' trust, opportunism and adaptation on contractual (non)cooperation with a mediating role of coordination in the construction industry. A questionnaire was used to collect data from employees of the Pakistani construction industry. Smart partial least square (SmartPLS) has been used for analyzing the data of 270 respondents from construction projects. The results of the SmartPLS indicate that (1) Trust and contract coordination positively while opportunism negatively influence contractor's contractual cooperation. (2) Contract adaptation and contract coordination positively influence the noncontractual cooperation of the contractor. (3) Moreover, contract coordination positively mediates the relationship between trust and noncontractual cooperation, but negatively mediates the relationship between opportunism and contract adaptation and noncontractual cooperation. The findings of this research suggest several policy implications for administrative authorities, project managers and policymakers. These authorities need to focus on clients' trust, opportunism and adaptation because these factors significantly influence contract coordination and cooperation in the construction industry. Emphasizing these factors will enable project managers to gain economies of scale and mitigate project failure. To the best of the authors’ search and knowledge, they did not find any study examining the mediating role of coordination between trust, opportunism, adaptation and cooperation in the construction industry. Hence, the present study advances their understanding in the field of project management and construction business.The role of trust, opportunism and adaptation in coordination and contract cooperation: evidence from construction projects
Muhammad Zaheer Hashim, Liu Chao, Chao Wang, Sabir Hussain Awan
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this paper is to examine the influence of clients' trust, opportunism and adaptation on contractual (non)cooperation with a mediating role of coordination in the construction industry.

A questionnaire was used to collect data from employees of the Pakistani construction industry. Smart partial least square (SmartPLS) has been used for analyzing the data of 270 respondents from construction projects.

The results of the SmartPLS indicate that (1) Trust and contract coordination positively while opportunism negatively influence contractor's contractual cooperation. (2) Contract adaptation and contract coordination positively influence the noncontractual cooperation of the contractor. (3) Moreover, contract coordination positively mediates the relationship between trust and noncontractual cooperation, but negatively mediates the relationship between opportunism and contract adaptation and noncontractual cooperation.

The findings of this research suggest several policy implications for administrative authorities, project managers and policymakers. These authorities need to focus on clients' trust, opportunism and adaptation because these factors significantly influence contract coordination and cooperation in the construction industry. Emphasizing these factors will enable project managers to gain economies of scale and mitigate project failure.

To the best of the authors’ search and knowledge, they did not find any study examining the mediating role of coordination between trust, opportunism, adaptation and cooperation in the construction industry. Hence, the present study advances their understanding in the field of project management and construction business.

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The role of trust, opportunism and adaptation in coordination and contract cooperation: evidence from construction projects10.1108/JEAS-01-2022-0008Journal of Economic and Administrative Sciences2022-04-26© 2022 Emerald Publishing LimitedMuhammad Zaheer HashimLiu ChaoChao WangSabir Hussain AwanJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-04-2610.1108/JEAS-01-2022-0008https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0008/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Comparison of volatility and mean reversion among developed, developing and emerging countrieshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0009/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis research paper aims to analyze the stock exchanges of developed, emerging and developing countries to investigate the volatility in stock markets and to evaluate the rate of mean reversion. The stock exchanges included in the research are NASDAQ, Tokyo stock exchange, Shanghai stock exchange, Bombay stock exchange, Karachi stock exchange and Jakarta stock exchange. Secondary daily data from Bloomberg are used to conduct the research for the period from January 2011 to December 2018. Generalized autoregressive conditional heteroskedasticity (GARCH) (1,1) model was applied to examine volatility and the half-life formula was used to calculate mean reversion in days. The research concluded that all the stock exchanges included in the research satisfy the assumptions of mean reversion. Developing countries have the lowest volatility while emerging countries have the highest volatility which means that the rate of mean reversion is fastest in developing countries and slowest in emerging countries. Future studies can determine the reasons for fastest rate of mean reversion in developing countries and slowest rate of mean reversion in emerging countries. Developing countries show the lowest mean reversion in days while the emerging countries show the highest mean reversion in days indicating that developing countries take less time to revert to their mean position. The majority of previous studies on univariate volatility models are mostly on applications of the models. Only a few researchers have taken the robustness of the models into account when applying them in emerging countries and not in developed, developing and emerging countries in one place. This makes the current study unique and more rigorous.Comparison of volatility and mean reversion among developed, developing and emerging countries
Tazeen Arsalan, Bilal Ahmed Chishty, Shagufta Ghouri, Nayeem Ul Hassan Ansari
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This research paper aims to analyze the stock exchanges of developed, emerging and developing countries to investigate the volatility in stock markets and to evaluate the rate of mean reversion.

The stock exchanges included in the research are NASDAQ, Tokyo stock exchange, Shanghai stock exchange, Bombay stock exchange, Karachi stock exchange and Jakarta stock exchange. Secondary daily data from Bloomberg are used to conduct the research for the period from January 2011 to December 2018. Generalized autoregressive conditional heteroskedasticity (GARCH) (1,1) model was applied to examine volatility and the half-life formula was used to calculate mean reversion in days.

The research concluded that all the stock exchanges included in the research satisfy the assumptions of mean reversion. Developing countries have the lowest volatility while emerging countries have the highest volatility which means that the rate of mean reversion is fastest in developing countries and slowest in emerging countries.

Future studies can determine the reasons for fastest rate of mean reversion in developing countries and slowest rate of mean reversion in emerging countries.

Developing countries show the lowest mean reversion in days while the emerging countries show the highest mean reversion in days indicating that developing countries take less time to revert to their mean position.

The majority of previous studies on univariate volatility models are mostly on applications of the models. Only a few researchers have taken the robustness of the models into account when applying them in emerging countries and not in developed, developing and emerging countries in one place. This makes the current study unique and more rigorous.

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Comparison of volatility and mean reversion among developed, developing and emerging countries10.1108/JEAS-01-2022-0009Journal of Economic and Administrative Sciences2022-09-22© 2022 Emerald Publishing LimitedTazeen ArsalanBilal Ahmed ChishtyShagufta GhouriNayeem Ul Hassan AnsariJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-09-2210.1108/JEAS-01-2022-0009https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0009/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Working capital management and firm performance nexus in emerging markets: do financial constraints matter?https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0010/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to examine the impact of working capital management (WCM) on firm performance. The authors pursue innovation by exploring how the level of financial constraints shapes the impact of WCM on corporate performance. In this study, the generalized method of moments (GMM) is used to analyze a sample of 753 firms listed on ten Middle East and North Africa (MENA) emerging markets. The authors' empirical analysis demonstrates that financially constrained firms are coerced to adopt an aggressive WCM approach to reduce investment in working capital, minimize financing costs and improve financial performance despite the risks associated with this strategy. Contrarily, financially unconstrained firms, uphold a high level of investments in working capital to grow sales and improve financial performance. The authors' results strongly reject the “one size fits all” approach of WCM. The authors assert that the degree of financial constraints largely defines the firm's optimal WCM approach. The authors' study reveals to financial managers the importance of adopting an appropriate WCM strategy that fits firm-specific characteristics and financial flexibility. The authors' results urge policy makers to ease access to financing to all firms to enhance both their financial flexibility and ability to respond efficiently to emerging investment opportunities as well as develop resilience to economic slumps. To the best knowledge of the authors, this is the first study that explores WCM and financial constraints in MENA emerging markets.Working capital management and firm performance nexus in emerging markets: do financial constraints matter?
Imad Jabbouri, Harit Satt, Oumaima El Azzouzi, Maryem Naili
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to examine the impact of working capital management (WCM) on firm performance. The authors pursue innovation by exploring how the level of financial constraints shapes the impact of WCM on corporate performance.

In this study, the generalized method of moments (GMM) is used to analyze a sample of 753 firms listed on ten Middle East and North Africa (MENA) emerging markets.

The authors' empirical analysis demonstrates that financially constrained firms are coerced to adopt an aggressive WCM approach to reduce investment in working capital, minimize financing costs and improve financial performance despite the risks associated with this strategy. Contrarily, financially unconstrained firms, uphold a high level of investments in working capital to grow sales and improve financial performance. The authors' results strongly reject the “one size fits all” approach of WCM. The authors assert that the degree of financial constraints largely defines the firm's optimal WCM approach.

The authors' study reveals to financial managers the importance of adopting an appropriate WCM strategy that fits firm-specific characteristics and financial flexibility. The authors' results urge policy makers to ease access to financing to all firms to enhance both their financial flexibility and ability to respond efficiently to emerging investment opportunities as well as develop resilience to economic slumps.

To the best knowledge of the authors, this is the first study that explores WCM and financial constraints in MENA emerging markets.

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Working capital management and firm performance nexus in emerging markets: do financial constraints matter?10.1108/JEAS-01-2022-0010Journal of Economic and Administrative Sciences2022-03-17© 2022 Emerald Publishing LimitedImad JabbouriHarit SattOumaima El AzzouziMaryem NailiJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-03-1710.1108/JEAS-01-2022-0010https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0010/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Impact of tax reforms on revenue mobilisation in developing economies: empirical evidence from Ghanahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0011/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper assesses the impact of tax reforms on tax revenue mobilisation in Ghana. The autoregressive distributed lag model together with dynamic ordinary least squares and fully modified least squares techniques were employed on a time-series data spanning from 1980–2018. Exploiting data from IMFs monitoring of fund arrangements database, an index of tax reforms is constructed as a function of the number of successfully implemented tax-related reforms and policy measures per year over the study period. Having established the presence of co-integration between tax revenue and its determinants, this paper finds strong evidence that tax-related reforms exert positive and significant impact on tax revenue generation in Ghana. Among other covariates, the results show that the tax base (real GDP), public debt and education (human capital index) significantly boosts tax revenue in the long run. The success of tax reforms in boosting revenue mobilisation has been examined in light of the buoyancy and elasticity of the tax system in Ghana, albeit with little emphasis on the extent to which tax reforms contribute to tax revenue mobilisation from econometric perspective. This paper fills this gap in the literature by analysing the impact of tax reforms on tax revenue mobilisation in Ghana. As a recommendation, well-designed and implemented tax reforms and policies aimed at increasing the tax base, education and effective utilisation of funds from public debt promise to be instrumental in boosting tax revenue in Ghana.Impact of tax reforms on revenue mobilisation in developing economies: empirical evidence from Ghana
Kofi Kamasa, David Nii Nortey, Frank Boateng, Isaac Bonuedi
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper assesses the impact of tax reforms on tax revenue mobilisation in Ghana.

The autoregressive distributed lag model together with dynamic ordinary least squares and fully modified least squares techniques were employed on a time-series data spanning from 1980–2018. Exploiting data from IMFs monitoring of fund arrangements database, an index of tax reforms is constructed as a function of the number of successfully implemented tax-related reforms and policy measures per year over the study period.

Having established the presence of co-integration between tax revenue and its determinants, this paper finds strong evidence that tax-related reforms exert positive and significant impact on tax revenue generation in Ghana. Among other covariates, the results show that the tax base (real GDP), public debt and education (human capital index) significantly boosts tax revenue in the long run.

The success of tax reforms in boosting revenue mobilisation has been examined in light of the buoyancy and elasticity of the tax system in Ghana, albeit with little emphasis on the extent to which tax reforms contribute to tax revenue mobilisation from econometric perspective. This paper fills this gap in the literature by analysing the impact of tax reforms on tax revenue mobilisation in Ghana. As a recommendation, well-designed and implemented tax reforms and policies aimed at increasing the tax base, education and effective utilisation of funds from public debt promise to be instrumental in boosting tax revenue in Ghana.

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Impact of tax reforms on revenue mobilisation in developing economies: empirical evidence from Ghana10.1108/JEAS-01-2022-0011Journal of Economic and Administrative Sciences2022-04-28© 2022 Emerald Publishing LimitedKofi KamasaDavid Nii NorteyFrank BoatengIsaac BonuediJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-04-2810.1108/JEAS-01-2022-0011https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0011/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Employer branding: design and development of a scalehttps://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0012/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to design, develop and validate an instrument to measure employer branding by considering existing employee perceptions. In this systematic research, the predominant factors of employer branding are identified through Pareto analysis; using structured questionnaire information and data collected from 423 employees. The number of items and dimensions was reduced by conducting exploratory factor analysis (EFA) and validated extracted dimensions using confirmatory factor analysis (CFA) using statistical software (SPSS-21). The designed scale was verified by applying relevant statistical techniques, including a multicollinearity test, construct validity, content validity, divergent validity, convergent validity and reliability test. Structural equation modeling (SEM) was performed using AMOS, to explore the interrelationship between the dimensions of the scale. Considering the perception of existing employees, seven factors along with 24 items scale were designed and developed to measure the employer branding. The identified seven factors are; career development opportunities; compensation and benefits; corporate social responsibility; training and development; work environment; organizational culture; and work-life balance. The proposed model explains a total variance of 70.35% and the model fit indices are within the acceptable range, validity and statistical reliability are established for seven dimensions of employer branding. Employer branding is studied from existing employee perspective by collecting responses from the employees of the IT sector only. This validated scale is valuable for practitioners and academicians. The proposed dimensions in the scale may help practitioners explore the impact on the outcomes of organizations such as employee commitment, employee retention, employee satisfaction and total productivity. This novel instrument helps to measure employees' perception of their employers. Further, the authors identify the gaps and accordingly plan strategies to attract and retain the talented workforce. The authors believe that this novel measuring instrument is comprehensive and the first of its kind. Employer branding has been modeled using SEM analysis by considering the perceptions of the present employees.Employer branding: design and development of a scale
T.S. Nanjundeswaraswamy, Sindu Bharath, P. Nagesh
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to design, develop and validate an instrument to measure employer branding by considering existing employee perceptions.

In this systematic research, the predominant factors of employer branding are identified through Pareto analysis; using structured questionnaire information and data collected from 423 employees. The number of items and dimensions was reduced by conducting exploratory factor analysis (EFA) and validated extracted dimensions using confirmatory factor analysis (CFA) using statistical software (SPSS-21). The designed scale was verified by applying relevant statistical techniques, including a multicollinearity test, construct validity, content validity, divergent validity, convergent validity and reliability test. Structural equation modeling (SEM) was performed using AMOS, to explore the interrelationship between the dimensions of the scale.

Considering the perception of existing employees, seven factors along with 24 items scale were designed and developed to measure the employer branding. The identified seven factors are; career development opportunities; compensation and benefits; corporate social responsibility; training and development; work environment; organizational culture; and work-life balance. The proposed model explains a total variance of 70.35% and the model fit indices are within the acceptable range, validity and statistical reliability are established for seven dimensions of employer branding.

Employer branding is studied from existing employee perspective by collecting responses from the employees of the IT sector only.

This validated scale is valuable for practitioners and academicians. The proposed dimensions in the scale may help practitioners explore the impact on the outcomes of organizations such as employee commitment, employee retention, employee satisfaction and total productivity. This novel instrument helps to measure employees' perception of their employers. Further, the authors identify the gaps and accordingly plan strategies to attract and retain the talented workforce.

The authors believe that this novel measuring instrument is comprehensive and the first of its kind. Employer branding has been modeled using SEM analysis by considering the perceptions of the present employees.

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Employer branding: design and development of a scale10.1108/JEAS-01-2022-0012Journal of Economic and Administrative Sciences2022-05-11© 2022 Emerald Publishing LimitedT.S. NanjundeswaraswamySindu BharathP. NageshJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-05-1110.1108/JEAS-01-2022-0012https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0012/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Impact of migration policies on socio-cultural participation and well-being: evidence from the Migration Act of 2000 in Germanyhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0014/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestCountries have implemented various migration policies targeting the migrants' economic and political integration and social inclusion. However, little is known about the impact of migration policies on migrants' participation in socio-cultural activities and their link with well-being. The first aim of this study is to explore the effect of the Migration Act of 2000 in Germany on participation in socio-cultural activities of first-generation migrants. The second aim is to examine the impact of socio-cultural activities on subjective well-being (SWB), measured by life satisfaction, and how it is compared between first-generation immigrants and natives. The Migration Act of 2000 was extended in 2005 to provide permanent residence permits to high-skilled migrants and deliver cultural orientation and German language courses. The author will implement a Difference-in-Differences (DiD) methodology comparing the relationship between socio-cultural participation and SWB of first-generation immigrants and natives. The results show that while first-generation immigrants participate less frequently in the socio-cultural activities explored, they experience an increase in participation after the implementation of the 2000 Migration Act. Furthermore, migrants report lower levels of SWB than natives, but their life satisfaction significantly improves with the increase in socio-cultural participation. The findings of this study have implications for researchers and policymakers, such as income, education and employment promoting migrant integration. Providing employment opportunities and a permanent residence permit, cultural participation, and thus, the integration of migrants can be successfully achieved. While there is a long debate about the effectiveness of migration integration policies, this is the first study investigating the effect of the Migration Act of 2000 on migrants' socio-cultural participation and well-being.Impact of migration policies on socio-cultural participation and well-being: evidence from the Migration Act of 2000 in Germany
Eleftherios Giovanis
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Countries have implemented various migration policies targeting the migrants' economic and political integration and social inclusion. However, little is known about the impact of migration policies on migrants' participation in socio-cultural activities and their link with well-being. The first aim of this study is to explore the effect of the Migration Act of 2000 in Germany on participation in socio-cultural activities of first-generation migrants. The second aim is to examine the impact of socio-cultural activities on subjective well-being (SWB), measured by life satisfaction, and how it is compared between first-generation immigrants and natives.

The Migration Act of 2000 was extended in 2005 to provide permanent residence permits to high-skilled migrants and deliver cultural orientation and German language courses. The author will implement a Difference-in-Differences (DiD) methodology comparing the relationship between socio-cultural participation and SWB of first-generation immigrants and natives.

The results show that while first-generation immigrants participate less frequently in the socio-cultural activities explored, they experience an increase in participation after the implementation of the 2000 Migration Act. Furthermore, migrants report lower levels of SWB than natives, but their life satisfaction significantly improves with the increase in socio-cultural participation.

The findings of this study have implications for researchers and policymakers, such as income, education and employment promoting migrant integration. Providing employment opportunities and a permanent residence permit, cultural participation, and thus, the integration of migrants can be successfully achieved.

While there is a long debate about the effectiveness of migration integration policies, this is the first study investigating the effect of the Migration Act of 2000 on migrants' socio-cultural participation and well-being.

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Impact of migration policies on socio-cultural participation and well-being: evidence from the Migration Act of 2000 in Germany10.1108/JEAS-01-2022-0014Journal of Economic and Administrative Sciences2022-05-31© 2022 Emerald Publishing LimitedEleftherios GiovanisJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-05-3110.1108/JEAS-01-2022-0014https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0014/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Effect of bond market development on economic growth of selected developing countrieshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0015/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper examines the effect of bond market development on economic growth of selected developing countries from 1990 to 2020. Previous studies provide inconsistent results on the effect of bond market development on economic growth. Some results reveal positive effects while others show negative effects of bond market development on economic growth. These conflicting findings have motivated research. The autoregressive distributed lag (ARDL) and co-integration methods are used for analysis. The gross domestic product per capita proxies economic growth while government bond capitalisation and corporate bond capitalisation measure bond market development. The findings unveil a long-term effect within the series. The results disclose that government bond capitalisation, trade openness and inflation positively affect economic growth while corporate bond capitalisation and domestic credit to the private sector presents negative effects on economic growth. The results propose that the governments should issue more bonds to raise funds for long-term economic growth initiatives. The governments should promote bond market development such that the corporate bonds issued boost economic growth by limiting lengthy documentations and bottlenecks in the bond market listing and issue procedures. The policymakers and regulatory authorities should implement policies which attract investors and encourage companies' listing in the countries' bond markets. The study’s findings add value that government bond capitalisation positively impacts economic growth, while corporate bond capitalisation negatively affects economic growth in developing countries.Effect of bond market development on economic growth of selected developing countries
Uguanyi Jacinta Nneka, Chi Aloysius Ngong, Okeke Augustina Ugoada, Josaphat Uchechukwu Joe Onwumere
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper examines the effect of bond market development on economic growth of selected developing countries from 1990 to 2020. Previous studies provide inconsistent results on the effect of bond market development on economic growth. Some results reveal positive effects while others show negative effects of bond market development on economic growth. These conflicting findings have motivated research.

The autoregressive distributed lag (ARDL) and co-integration methods are used for analysis. The gross domestic product per capita proxies economic growth while government bond capitalisation and corporate bond capitalisation measure bond market development.

The findings unveil a long-term effect within the series. The results disclose that government bond capitalisation, trade openness and inflation positively affect economic growth while corporate bond capitalisation and domestic credit to the private sector presents negative effects on economic growth.

The results propose that the governments should issue more bonds to raise funds for long-term economic growth initiatives. The governments should promote bond market development such that the corporate bonds issued boost economic growth by limiting lengthy documentations and bottlenecks in the bond market listing and issue procedures. The policymakers and regulatory authorities should implement policies which attract investors and encourage companies' listing in the countries' bond markets.

The study’s findings add value that government bond capitalisation positively impacts economic growth, while corporate bond capitalisation negatively affects economic growth in developing countries.

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Effect of bond market development on economic growth of selected developing countries10.1108/JEAS-01-2022-0015Journal of Economic and Administrative Sciences2022-05-24© 2022 Emerald Publishing LimitedUguanyi Jacinta NnekaChi Aloysius NgongOkeke Augustina UgoadaJosaphat Uchechukwu Joe OnwumereJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-05-2410.1108/JEAS-01-2022-0015https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0015/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
The effect of COVID-19 pandemic on economic growth and public debt: an analysis of India and the global economyhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0018/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe study attempts to examine the effect of the COVID-19 pandemic on the economic growth and public debt of the Indian economy. The authors also attempt to make quarterly projections of economic growth and external debt (ED) for the next five years. The objective is to understand how much time the economy takes to recover and at what pace. Consequently, this study elucidates the composition of debt after the crisis in the next five years. To predict India's gross domestic product (GDP) and ED for the next five years, the authors used an auto-regressive integrated moving average (ARIMA) model. This model was built under a Box–Jenkins methodology (Box and Jenkins, 1976) and was subjected to an augmented Dickey–Fuller (ADF) test to check the stationarity of the data. The methodology includes three main steps to estimate and forecast the model: identification, estimation, and diagnostic and forecasting. The study finds that the outbreak of the COVID-19 pandemic has significant implications for economic growth and public debt. The economy faced contraction in the first quarter of the year 2020 due to the suspension of economic activities and still struggling with the negative values of GDP. The forecasting results reveal that ED will continue to grow to meet the increasing health expenditure needs, and GDP will also bounce back slowly after the end of the year 2021. It has been noticed that the recurrent crisis derails the developing economies from the path of sustainable development to a prolonged economic slump with mounting public debt. The study examines the impact of the COVID-19 pandemic on economic growth and public debt with particular reference to India. To the best of the authors’ knowledge, this is the first time the quarterly projections for GDP and ED have been made after the COVID-19 crisis.The effect of COVID-19 pandemic on economic growth and public debt: an analysis of India and the global economy
S. Pratibha, M. Krishna
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The study attempts to examine the effect of the COVID-19 pandemic on the economic growth and public debt of the Indian economy. The authors also attempt to make quarterly projections of economic growth and external debt (ED) for the next five years. The objective is to understand how much time the economy takes to recover and at what pace. Consequently, this study elucidates the composition of debt after the crisis in the next five years.

To predict India's gross domestic product (GDP) and ED for the next five years, the authors used an auto-regressive integrated moving average (ARIMA) model. This model was built under a Box–Jenkins methodology (Box and Jenkins, 1976) and was subjected to an augmented Dickey–Fuller (ADF) test to check the stationarity of the data. The methodology includes three main steps to estimate and forecast the model: identification, estimation, and diagnostic and forecasting.

The study finds that the outbreak of the COVID-19 pandemic has significant implications for economic growth and public debt. The economy faced contraction in the first quarter of the year 2020 due to the suspension of economic activities and still struggling with the negative values of GDP. The forecasting results reveal that ED will continue to grow to meet the increasing health expenditure needs, and GDP will also bounce back slowly after the end of the year 2021. It has been noticed that the recurrent crisis derails the developing economies from the path of sustainable development to a prolonged economic slump with mounting public debt.

The study examines the impact of the COVID-19 pandemic on economic growth and public debt with particular reference to India. To the best of the authors’ knowledge, this is the first time the quarterly projections for GDP and ED have been made after the COVID-19 crisis.

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The effect of COVID-19 pandemic on economic growth and public debt: an analysis of India and the global economy10.1108/JEAS-01-2022-0018Journal of Economic and Administrative Sciences2022-03-15© 2022 Emerald Publishing LimitedS. PratibhaM. KrishnaJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-03-1510.1108/JEAS-01-2022-0018https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0018/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
The determinants of unemployment rate in developing economies: does banking system credit matter?https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0021/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestIn developing countries, banks play a major role by acting as a conduit for the effective mobilization of funds from the surplus sectors of an economy for onward lending to the deficit sectors for productive investments that will in turn increase the level of employment and economic growth. There has being a rising trend in unemployment rate in Nigeria and South Africa and hence, the need for the study to assess the effectiveness of banking system credit in curbing unemployment rate by making a comparative analysis of Nigeria and South Africa covering the period of 1991–2018. The study employed the unit root test, Johansen cointegration test, vector error correction model and VAR impulse response function in determining the relationship between the variables. The major findings revealed that banking system credit matters in curbing unemployment rate in South Africa than in Nigeria. Also, other macroeconomic factors such as lending rate, inflation rate, Government expenditure and population growth were significant enough in influencing unemployment rate in South Africa than in Nigeria. Foreign direct investment was a significant factor in reducing unemployment rate in Nigeria than in South Africa. The cointegration test showed a long-term relationship between the variables in both countries while the speed of adjustment coefficient of the vector error correction model is faster in South Africa than in Nigeria. Previous empirical studies on the relationship between banking system credit and unemployment rate have focused much on other regions such as Asia and Europe. Thus, the study is unique as it focused on the African region and also made a comparative analysis by testing the Keynesian theory of employment, interest and money on two emerging African economies which are Nigeria and South Africa.The determinants of unemployment rate in developing economies: does banking system credit matter?
Chukwuebuka Bernard Azolibe, Stephen Kelechi Dimnwobi, Chidiebube Peace Uzochukwu-Obi
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

In developing countries, banks play a major role by acting as a conduit for the effective mobilization of funds from the surplus sectors of an economy for onward lending to the deficit sectors for productive investments that will in turn increase the level of employment and economic growth. There has being a rising trend in unemployment rate in Nigeria and South Africa and hence, the need for the study to assess the effectiveness of banking system credit in curbing unemployment rate by making a comparative analysis of Nigeria and South Africa covering the period of 1991–2018.

The study employed the unit root test, Johansen cointegration test, vector error correction model and VAR impulse response function in determining the relationship between the variables.

The major findings revealed that banking system credit matters in curbing unemployment rate in South Africa than in Nigeria. Also, other macroeconomic factors such as lending rate, inflation rate, Government expenditure and population growth were significant enough in influencing unemployment rate in South Africa than in Nigeria. Foreign direct investment was a significant factor in reducing unemployment rate in Nigeria than in South Africa. The cointegration test showed a long-term relationship between the variables in both countries while the speed of adjustment coefficient of the vector error correction model is faster in South Africa than in Nigeria.

Previous empirical studies on the relationship between banking system credit and unemployment rate have focused much on other regions such as Asia and Europe. Thus, the study is unique as it focused on the African region and also made a comparative analysis by testing the Keynesian theory of employment, interest and money on two emerging African economies which are Nigeria and South Africa.

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The determinants of unemployment rate in developing economies: does banking system credit matter?10.1108/JEAS-01-2022-0021Journal of Economic and Administrative Sciences2022-07-20© 2022 Emerald Publishing LimitedChukwuebuka Bernard AzolibeStephen Kelechi DimnwobiChidiebube Peace Uzochukwu-ObiJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-07-2010.1108/JEAS-01-2022-0021https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0021/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Group-affiliations and corporate cash holdings: moderating role of political connectednesshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0023/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study examines the effect of business group affiliations on corporate cash holdings and how political connectedness modifies the relationship between business group affiliations and corporate cash holdings. The multiple ordinary least square regression with year dummies is used to estimate the effect of business groups on cash holdings. For moderating, the multiplicative term is used. The data from 252 non-financial firms listed on Pakistan Stock Exchange were collected for the analysis from 2010 to 2018. The findings show that business group affiliations negatively affect corporate cash holdings, and political connection positively moderates this relationship. Business group firms that are politically connected hold less cash. The firm-specific factors such as leverage, size, cash flow, and dividend dummy also significantly affect corporate cash holdings. The results imply that affiliated companies have lessened financing frictions and improved stability in their expected future cash flows. Moreover, the results indicate that political connection minimizes the opportunity and agency costs linked to cash holdings. This study contributes to the existing literature by examining the moderating role of political affiliations on the relationship between business groups and cash holdings in the emerging market.Group-affiliations and corporate cash holdings: moderating role of political connectedness
Amer Sohail, Zohaib Butt, Affaf Asghar Butt, Aamer Shahzad
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study examines the effect of business group affiliations on corporate cash holdings and how political connectedness modifies the relationship between business group affiliations and corporate cash holdings.

The multiple ordinary least square regression with year dummies is used to estimate the effect of business groups on cash holdings. For moderating, the multiplicative term is used. The data from 252 non-financial firms listed on Pakistan Stock Exchange were collected for the analysis from 2010 to 2018.

The findings show that business group affiliations negatively affect corporate cash holdings, and political connection positively moderates this relationship. Business group firms that are politically connected hold less cash. The firm-specific factors such as leverage, size, cash flow, and dividend dummy also significantly affect corporate cash holdings.

The results imply that affiliated companies have lessened financing frictions and improved stability in their expected future cash flows. Moreover, the results indicate that political connection minimizes the opportunity and agency costs linked to cash holdings.

This study contributes to the existing literature by examining the moderating role of political affiliations on the relationship between business groups and cash holdings in the emerging market.

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Group-affiliations and corporate cash holdings: moderating role of political connectedness10.1108/JEAS-01-2022-0023Journal of Economic and Administrative Sciences2023-07-31© 2023 Emerald Publishing LimitedAmer SohailZohaib ButtAffaf Asghar ButtAamer ShahzadJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-07-3110.1108/JEAS-01-2022-0023https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2022-0023/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Does financial distress induce companies to restructure their financing mix?https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2023-0004/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestDistressed companies create panic among investors. The overall effect comes on the economy and leads to a degraded image and value of all the companies operating in a country. These distressing situations are harmful to the efficient development of a country in process of development. Financial distress (FD) is when a company or individual cannot promise to pay their obligations on time. Therefore, to analyze the threatening impacts of FD, the current study aims to reveal the impact of FD on the debt ratio (proxy of capital structure) of firms working in India. Panel data analysis (PDA) has been used in the current study to analyze the data and generate novel results. The authors have considered the secondary data of firms present in the S&P BSE 100 index for ten financial years, i.e. 2010 to 2019. This study has established that FD has no significant impact on the firm's capital structure. In addition, it has also been proved that asset size, learner's index, market capitalization and operating profit margin (OPM) have no interacting impact on the association between FD and the capital mix of firms. As per the authors’ observation, no such study has been conducted till now that involves finding out the moderating impact of four different but significant factors of the business environment (assets size, learner's index, market capitalization and OPM) on the association between FD and capital structure of companies operating in a such an extensive and diverse economy.Does financial distress induce companies to restructure their financing mix?
Aashi Rawal, Venkata Mrudula Bhimavarapu, Anureet Virk Sidhu, Shailesh Rastogi
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Distressed companies create panic among investors. The overall effect comes on the economy and leads to a degraded image and value of all the companies operating in a country. These distressing situations are harmful to the efficient development of a country in process of development. Financial distress (FD) is when a company or individual cannot promise to pay their obligations on time. Therefore, to analyze the threatening impacts of FD, the current study aims to reveal the impact of FD on the debt ratio (proxy of capital structure) of firms working in India.

Panel data analysis (PDA) has been used in the current study to analyze the data and generate novel results. The authors have considered the secondary data of firms present in the S&P BSE 100 index for ten financial years, i.e. 2010 to 2019.

This study has established that FD has no significant impact on the firm's capital structure. In addition, it has also been proved that asset size, learner's index, market capitalization and operating profit margin (OPM) have no interacting impact on the association between FD and the capital mix of firms.

As per the authors’ observation, no such study has been conducted till now that involves finding out the moderating impact of four different but significant factors of the business environment (assets size, learner's index, market capitalization and OPM) on the association between FD and capital structure of companies operating in a such an extensive and diverse economy.

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Does financial distress induce companies to restructure their financing mix?10.1108/JEAS-01-2023-0004Journal of Economic and Administrative Sciences2023-05-15© 2023 Emerald Publishing LimitedAashi RawalVenkata Mrudula BhimavarapuAnureet Virk SidhuShailesh RastogiJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-05-1510.1108/JEAS-01-2023-0004https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2023-0004/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Empirical evidence of the financial development and economic growth nexus in sub-Saharan Africa (1995–2022): an index approachhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2023-0006/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis research empirically investigates the evidence of the financial development and economic growth nexus in sub-Saharan Africa from 1995 to 2022. A series of preliminary tests are conducted before using the two-stage estimated generalized least squares and robust least squares methods for the analysis. Two indices are constructed to measure financial development: one for the banking sector indicators and another for the market-based indicators (Ustarz and Fanta, 2021). The results indicate that the banking sector index significantly impacts the gross domestic product (GDP) per capita positively. The market sector index has a negatively significant effect on the GDP per capita. Government expenditure has a positive impact on the GDP per capita. Policymakers in sub-Saharan Africa should improve and implement finance–growth inclusive strategies that promote financial reforms and development to efficiently impact all population sectors. Policymakers should take stringent measures to ensure that the banking sector's development is sustainable to lead economic growth. The governments should strategize and promote capital market development using favorable listing rules for companies in the stock markets. Global stock market integration should be encouraged to diversify risks, increase public awareness, raise investors' confidence level and reduce stock market impediments like high taxes and regulatory barriers. Previous study findings on the financial development and economic growth nexus are inconclusive and debatable. This study employs the financial development index approach.Empirical evidence of the financial development and economic growth nexus in sub-Saharan Africa (1995–2022): an index approach
Chebangang Hyacinth, Chi Aloysius Ngong, Josaphat Uchechukwu Joe Onwumere
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This research empirically investigates the evidence of the financial development and economic growth nexus in sub-Saharan Africa from 1995 to 2022.

A series of preliminary tests are conducted before using the two-stage estimated generalized least squares and robust least squares methods for the analysis. Two indices are constructed to measure financial development: one for the banking sector indicators and another for the market-based indicators (Ustarz and Fanta, 2021).

The results indicate that the banking sector index significantly impacts the gross domestic product (GDP) per capita positively. The market sector index has a negatively significant effect on the GDP per capita. Government expenditure has a positive impact on the GDP per capita.

Policymakers in sub-Saharan Africa should improve and implement finance–growth inclusive strategies that promote financial reforms and development to efficiently impact all population sectors. Policymakers should take stringent measures to ensure that the banking sector's development is sustainable to lead economic growth. The governments should strategize and promote capital market development using favorable listing rules for companies in the stock markets. Global stock market integration should be encouraged to diversify risks, increase public awareness, raise investors' confidence level and reduce stock market impediments like high taxes and regulatory barriers.

Previous study findings on the financial development and economic growth nexus are inconclusive and debatable. This study employs the financial development index approach.

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Empirical evidence of the financial development and economic growth nexus in sub-Saharan Africa (1995–2022): an index approach10.1108/JEAS-01-2023-0006Journal of Economic and Administrative Sciences2023-05-04© 2023 Emerald Publishing LimitedChebangang HyacinthChi Aloysius NgongJosaphat Uchechukwu Joe OnwumereJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-05-0410.1108/JEAS-01-2023-0006https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2023-0006/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
What drives public debt in SAARC countries? An empirical assessmenthttps://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2023-0007/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to explore the determinants of public debt in selected South Asian Association for Regional Cooperation (SAARC) countries for 19 years, from 2001 to 2019. Using ordinary fixed and random effect models, the authors examine the role of internal and external factors in determining the composition of public debt. Furthermore, for robustness, they compare the results with two-stage least square (2SLS) regression estimates after considering the problem of endogeneity, overidentification, under-identification and weak instruments. The findings show that among the selected macroeconomic variables, inflation, exchange rate and broad money have significant negative effects on the debt-GDP ratio. In contrast, military spending, corruption and interest rates appear to positively influence the same as per 2SLS results. From the policymaking perspective, SAARC countries should focus more on reducing military spending and make a concerted effort to augment investments in productive projects. Further, with strong fiscal consolidation and institutional quality, it is important to mitigate the frequent occurrence of corruption conundrums in emerging economies for the development of a transparent economic system. The study is distinct from previous studies in two ways. First, to the best of the authors’ knowledge, there are no studies focusing on SAARC countries in the context of public debt. Second, the study expands the existing literature on public debt by taking into account both external and internal debts to decipher the within-country and cross-country determinants of debt accumulation. More specifically, this model considers accountability and transparency in the public sector, cross-border security challenges and benefits of globalization by including explanatory variables such as corruption, military expenditure spending and capital inflows.What drives public debt in SAARC countries? An empirical assessment
S. Pratibha, M. Krishna
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to explore the determinants of public debt in selected South Asian Association for Regional Cooperation (SAARC) countries for 19 years, from 2001 to 2019.

Using ordinary fixed and random effect models, the authors examine the role of internal and external factors in determining the composition of public debt. Furthermore, for robustness, they compare the results with two-stage least square (2SLS) regression estimates after considering the problem of endogeneity, overidentification, under-identification and weak instruments.

The findings show that among the selected macroeconomic variables, inflation, exchange rate and broad money have significant negative effects on the debt-GDP ratio. In contrast, military spending, corruption and interest rates appear to positively influence the same as per 2SLS results. From the policymaking perspective, SAARC countries should focus more on reducing military spending and make a concerted effort to augment investments in productive projects. Further, with strong fiscal consolidation and institutional quality, it is important to mitigate the frequent occurrence of corruption conundrums in emerging economies for the development of a transparent economic system.

The study is distinct from previous studies in two ways. First, to the best of the authors’ knowledge, there are no studies focusing on SAARC countries in the context of public debt. Second, the study expands the existing literature on public debt by taking into account both external and internal debts to decipher the within-country and cross-country determinants of debt accumulation. More specifically, this model considers accountability and transparency in the public sector, cross-border security challenges and benefits of globalization by including explanatory variables such as corruption, military expenditure spending and capital inflows.

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What drives public debt in SAARC countries? An empirical assessment10.1108/JEAS-01-2023-0007Journal of Economic and Administrative Sciences2023-12-18© 2023 Emerald Publishing LimitedS. PratibhaM. KrishnaJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-12-1810.1108/JEAS-01-2023-0007https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2023-0007/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Relevancy and drivers of trade openness: a study of GIPSI countrieshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2023-0014/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this research is to systematically scrutinize the influence of macroeconomic determinants on trade openness, through the lens of various trade theories, with a particular focus on the economies of the GIPSI countries – Greece, Ireland, Portugal, Spain and Italy. This study investigates the macroeconomic factors influencing trade openness in the GIPSI economies from 1995 to 2020. Methods include stepwise regression (SR) for model selection, Pedroni panel cointegration test and panel regression results. The analysis uses advanced panel regressions, including FMOLS, Panel OLS and FEM. The long-term dynamics were tested using Pedroni cointegration, while Granger causality testing was used to examine the causal direction between the trade openness ratio and trade determinant. The results show both long-term and short-term relationships between trade openness and (1) foreign direct investment, (2) labor force participation rate, (3) trade reserves and (4) trade balance. The researchers also detected unidirectional and bidirectional causality relationships between trade openness and these four factors. The study also revealed that trade reserves (TR) emerge as the most influential determinant of trade openness, and per capita income does not exhibit economic significance concerning the trade openness of GIPSI economies. This research is conducted within the context of the GIPSI nations (Greece, Ireland, Portugal, Spain and Italy). As such, the outcomes may not be universally applicable to other economic systems due to the distinct institutional settings and governance structures across different economic groups. Future investigations may explore the relationship between trade openness and its determinants by incorporating different variables. To the best of the authors' knowledge, this is the first study investigating the theory that suggested trade drivers drive the trade openness of GIPSI countries context. By focusing on GIPSI countries, the study offers a unique perspective on the dynamics of trade openness in economies that have experienced financial crises and stringent austerity measures.Relevancy and drivers of trade openness: a study of GIPSI countries
Shahida Suleman, Hassanudin Mohd Thas Thaker, Mohamed Ariff, Calvin W.H. Cheong
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this research is to systematically scrutinize the influence of macroeconomic determinants on trade openness, through the lens of various trade theories, with a particular focus on the economies of the GIPSI countries – Greece, Ireland, Portugal, Spain and Italy.

This study investigates the macroeconomic factors influencing trade openness in the GIPSI economies from 1995 to 2020. Methods include stepwise regression (SR) for model selection, Pedroni panel cointegration test and panel regression results. The analysis uses advanced panel regressions, including FMOLS, Panel OLS and FEM. The long-term dynamics were tested using Pedroni cointegration, while Granger causality testing was used to examine the causal direction between the trade openness ratio and trade determinant.

The results show both long-term and short-term relationships between trade openness and (1) foreign direct investment, (2) labor force participation rate, (3) trade reserves and (4) trade balance. The researchers also detected unidirectional and bidirectional causality relationships between trade openness and these four factors. The study also revealed that trade reserves (TR) emerge as the most influential determinant of trade openness, and per capita income does not exhibit economic significance concerning the trade openness of GIPSI economies.

This research is conducted within the context of the GIPSI nations (Greece, Ireland, Portugal, Spain and Italy). As such, the outcomes may not be universally applicable to other economic systems due to the distinct institutional settings and governance structures across different economic groups. Future investigations may explore the relationship between trade openness and its determinants by incorporating different variables.

To the best of the authors' knowledge, this is the first study investigating the theory that suggested trade drivers drive the trade openness of GIPSI countries context. By focusing on GIPSI countries, the study offers a unique perspective on the dynamics of trade openness in economies that have experienced financial crises and stringent austerity measures.

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Relevancy and drivers of trade openness: a study of GIPSI countries10.1108/JEAS-01-2023-0014Journal of Economic and Administrative Sciences2023-09-18© 2023 Emerald Publishing LimitedShahida SulemanHassanudin Mohd Thas ThakerMohamed AriffCalvin W.H. CheongJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-09-1810.1108/JEAS-01-2023-0014https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2023-0014/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Do impact of cash flows and working capital ratios on performance of listed firms during the crisis? The cases of EU-28 and Western European countrieshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2023-0018/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study examines investigating the relationship between cash flows, working capital ratios and firm performance during the global financial crisis. To examine the relationship between cash flow, working capital ratios and firm performance for EU-28 or Western European Countries (Norway, Turkey and Switzerland) listed firms, both panel and ordinary least squares (OLS) regression model are used to analyze the data obtained from sample. The study empirical findings suggest that global financial crisis has negative effect on firm performance for all sample. In addition, our interaction term result shows that cash flows variables such as cash holding level (CHL) × Crisis, cash interactive effect (CIE) × Crisis and gross working capital ratio (GWC) × Crisis not contributed to firm performance for EU-28 listed firms. However, the authors find that net working capital ratio (NWC) × Crisis have statistically significant and positive effects on firm performance with return on assets (ROA). The findings of the study provide evidence for managers that listed firms have reduced working capital expenditures to increase cash holdings level during the financial crisis. The authors find that cash flow variables with CHL have positive effect on firm performance with return on equity (ROE) in Western European Countries and these results are consistent with Opler et al. (1999)'s empirical results, while CIE have a negative impact on firm performance such as ROE and earnings before interest tax margin (EBITM). Global financial crisis emphasizes the importance of working capital and liquidity that suggests an efficient cash holdings policy in response to the uncertainty following the crisis.Do impact of cash flows and working capital ratios on performance of listed firms during the crisis? The cases of EU-28 and Western European countries
Ali İhsan Akgün, Ayyüce Memiş Karataş
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study examines investigating the relationship between cash flows, working capital ratios and firm performance during the global financial crisis.

To examine the relationship between cash flow, working capital ratios and firm performance for EU-28 or Western European Countries (Norway, Turkey and Switzerland) listed firms, both panel and ordinary least squares (OLS) regression model are used to analyze the data obtained from sample.

The study empirical findings suggest that global financial crisis has negative effect on firm performance for all sample. In addition, our interaction term result shows that cash flows variables such as cash holding level (CHL) × Crisis, cash interactive effect (CIE) × Crisis and gross working capital ratio (GWC) × Crisis not contributed to firm performance for EU-28 listed firms. However, the authors find that net working capital ratio (NWC) × Crisis have statistically significant and positive effects on firm performance with return on assets (ROA).

The findings of the study provide evidence for managers that listed firms have reduced working capital expenditures to increase cash holdings level during the financial crisis. The authors find that cash flow variables with CHL have positive effect on firm performance with return on equity (ROE) in Western European Countries and these results are consistent with Opler et al. (1999)'s empirical results, while CIE have a negative impact on firm performance such as ROE and earnings before interest tax margin (EBITM).

Global financial crisis emphasizes the importance of working capital and liquidity that suggests an efficient cash holdings policy in response to the uncertainty following the crisis.

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Do impact of cash flows and working capital ratios on performance of listed firms during the crisis? The cases of EU-28 and Western European countries10.1108/JEAS-01-2023-0018Journal of Economic and Administrative Sciences2023-05-22© 2023 Emerald Publishing LimitedAli İhsan AkgünAyyüce Memiş KarataşJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-05-2210.1108/JEAS-01-2023-0018https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2023-0018/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Revisiting the tax evasion and corruption–economic development nexus in Ghana: fresh evidence from a SEM approachhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2023-0020/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study explored the tax evasion and corruption–economic development nexus in Ghana and the moderating role of institutional quality in this relationship. To achieve this objective, this study employed the structural equation modelling (SEM) strategy and maximum likelihood (ML) estimation method on selected quarterised data from 1996 to 2020. The study found that tax evasion has a positive impact on GDP per capita and urbanisation but a negative impact on the Economic Freedom of the World Index (EFWI). The study revealed that corruption has a positive relationship with GDP per capita but relates with EFWI inversely. Finally, the study found that institutional quality moderates the nexus between tax evasion and corruption and economic development. The findings imply that the quality of state institutions has a significant impact on the government's ability to control tax evasion and corruption in order to drive economic development. One novelty of the study is the examination of the combined effects of tax evasion and corruption as exogenous variables in a single econometric model. Again, to moderate the multivariate relationships of the study, the principal component analysis (PCA) was used to create an institutional quality index. The study recommends that policymakers implement comprehensive tax evasion and corruption reduction strategies simultaneously in order to increase tax revenues for economic development and SDGs achievement.Revisiting the tax evasion and corruption–economic development nexus in Ghana: fresh evidence from a SEM approach
John Kwaku Amoh, Kenneth Ofori-Boateng, Randolph Nsor-Ambala, Ebenezer Bugri Anarfo
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study explored the tax evasion and corruption–economic development nexus in Ghana and the moderating role of institutional quality in this relationship.

To achieve this objective, this study employed the structural equation modelling (SEM) strategy and maximum likelihood (ML) estimation method on selected quarterised data from 1996 to 2020.

The study found that tax evasion has a positive impact on GDP per capita and urbanisation but a negative impact on the Economic Freedom of the World Index (EFWI). The study revealed that corruption has a positive relationship with GDP per capita but relates with EFWI inversely. Finally, the study found that institutional quality moderates the nexus between tax evasion and corruption and economic development.

The findings imply that the quality of state institutions has a significant impact on the government's ability to control tax evasion and corruption in order to drive economic development.

One novelty of the study is the examination of the combined effects of tax evasion and corruption as exogenous variables in a single econometric model. Again, to moderate the multivariate relationships of the study, the principal component analysis (PCA) was used to create an institutional quality index. The study recommends that policymakers implement comprehensive tax evasion and corruption reduction strategies simultaneously in order to increase tax revenues for economic development and SDGs achievement.

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Revisiting the tax evasion and corruption–economic development nexus in Ghana: fresh evidence from a SEM approach10.1108/JEAS-01-2023-0020Journal of Economic and Administrative Sciences2023-05-16© 2023 Emerald Publishing LimitedJohn Kwaku AmohKenneth Ofori-BoatengRandolph Nsor-AmbalaEbenezer Bugri AnarfoJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-05-1610.1108/JEAS-01-2023-0020https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2023-0020/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Do natural resources invite terrorism: evidence from resource-rich regionhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2023-0024/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe MENA region is very rich in terms of natural resources. At the same time, the MENA region has also been a victim of terrorism during the last few years. This study is an attempt to investigate whether there is any relationship between natural resources and terrorism in the MENA region. We have focused on 15 resource-rich countries located in the MENA region for the period 2002–2019. We have applied appropriate econometric techniques and have also controlled for other dominant determinants of terrorism while studying the relationship between these two variables. The results provide solid evidence in favor of the hypothesis that natural resources encourage terrorism. We find that natural resources have positively impacted terrorism. Besides, the natural resources, other factors such as per capita GDP, trade openness, political stability, domestic investment and government expenditures have negatively impacted terrorism. Moreover, the findings suggest that FDI and corruption are irrelevant in explaining terrorism while the findings regarding employment level and terrorism are unexpected. The obtained results are robust to alternative estimating methodologies. The results have serious policy implications for the MENA region. The MENA region in general is suggested to devise appropriate policies regarding their huge natural resources so as to tackle the terrorism problem effectively. Similarly, paying favorable attention to trade liberalization, political stability, government expenditures, investment, rising income of the population in the presence of macroeconomic stability in the form of lower inflation would also help the MENA region to eradicate the problem of terrorism. The available literature has largely ignored the role of natural resources in explaining the problem of terrorism. Therefore, this study has provided relatively new evidence regarding the determinants of terrorism.Do natural resources invite terrorism: evidence from resource-rich region
Muhammad Tahir, Muhammad Mumtaz Khan
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The MENA region is very rich in terms of natural resources. At the same time, the MENA region has also been a victim of terrorism during the last few years. This study is an attempt to investigate whether there is any relationship between natural resources and terrorism in the MENA region.

We have focused on 15 resource-rich countries located in the MENA region for the period 2002–2019. We have applied appropriate econometric techniques and have also controlled for other dominant determinants of terrorism while studying the relationship between these two variables.

The results provide solid evidence in favor of the hypothesis that natural resources encourage terrorism. We find that natural resources have positively impacted terrorism. Besides, the natural resources, other factors such as per capita GDP, trade openness, political stability, domestic investment and government expenditures have negatively impacted terrorism. Moreover, the findings suggest that FDI and corruption are irrelevant in explaining terrorism while the findings regarding employment level and terrorism are unexpected. The obtained results are robust to alternative estimating methodologies.

The results have serious policy implications for the MENA region. The MENA region in general is suggested to devise appropriate policies regarding their huge natural resources so as to tackle the terrorism problem effectively. Similarly, paying favorable attention to trade liberalization, political stability, government expenditures, investment, rising income of the population in the presence of macroeconomic stability in the form of lower inflation would also help the MENA region to eradicate the problem of terrorism.

The available literature has largely ignored the role of natural resources in explaining the problem of terrorism. Therefore, this study has provided relatively new evidence regarding the determinants of terrorism.

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Do natural resources invite terrorism: evidence from resource-rich region10.1108/JEAS-01-2023-0024Journal of Economic and Administrative Sciences2024-02-12© 2024 Emerald Publishing LimitedMuhammad TahirMuhammad Mumtaz KhanJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2024-02-1210.1108/JEAS-01-2023-0024https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2023-0024/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Evaluation of building construction permission certificate and customer satisfaction in Lalitpur city: evidence from structural equation modelinghttps://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2023-0025/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestObtaining building permit certificate is an essential component of construction endeavors, but it can be cumbersome sometimes. The process is frequently beset with obstacles, including bureaucratic impediments, red-tapism, prolonged authorization protocols and insufficient inter-agency collaboration which result in project timeline extension, cost escalation and applicant dissatisfaction. Therefore, this study aims to examine customer satisfaction with the assessment of building construction permit certificates in Lalitpur, Nepal. Following the notion of evaluation model theory, this study adopts an explanatory research design to determine the causal relationship between latent and observed variables. People who have recently completed the construction of their building and those people whose construction work is pending make up the population for the study. A total of 198 samples were collected by following the convenience sampling method from Lalitpur, Nepal. The primary data are collected by using the structured questionnaire with the interview process where the data are statistically evaluated using descriptive and inferential analysis using the KOBO toolbox, SPSS and AMOS. The connection between variables was examined using structural equation modeling (SEM). Results indicate that the negligence of the employees, the attitude of the employees, the need for additional costs and the hiring of the agent are the most significant obstacles encountered by customers during the process of getting construction permit. Regarding the whole assessment system, the general population expresses displeasure. SEM results indicate that environment and quality are significantly related to customer satisfaction. This paper's novelty lies in its Nepal-specific inquiry into the relationship between building permit acquisition procedures and customer contentment. The study provides a distinctive viewpoint on this context by combining evaluation model theory and SEM. The localized approach emphasizes the importance of customized strategies to improve customer satisfaction, adding to the current literature on the subject. The study's use of SEM as a quantitative analysis tool enhances its methodological rigor. This interdisciplinary research offers valuable insights for academics, practitioners and policymakers in Nepal and contributes to the wider field of construction and customer satisfaction.Evaluation of building construction permission certificate and customer satisfaction in Lalitpur city: evidence from structural equation modeling
Ruman Thapa, Niranjan Devkota, Krishna Dhakal, Vaibhav Puri, Surendra Mahato, Udaya Raj Paudel
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Obtaining building permit certificate is an essential component of construction endeavors, but it can be cumbersome sometimes. The process is frequently beset with obstacles, including bureaucratic impediments, red-tapism, prolonged authorization protocols and insufficient inter-agency collaboration which result in project timeline extension, cost escalation and applicant dissatisfaction. Therefore, this study aims to examine customer satisfaction with the assessment of building construction permit certificates in Lalitpur, Nepal.

Following the notion of evaluation model theory, this study adopts an explanatory research design to determine the causal relationship between latent and observed variables. People who have recently completed the construction of their building and those people whose construction work is pending make up the population for the study. A total of 198 samples were collected by following the convenience sampling method from Lalitpur, Nepal. The primary data are collected by using the structured questionnaire with the interview process where the data are statistically evaluated using descriptive and inferential analysis using the KOBO toolbox, SPSS and AMOS. The connection between variables was examined using structural equation modeling (SEM).

Results indicate that the negligence of the employees, the attitude of the employees, the need for additional costs and the hiring of the agent are the most significant obstacles encountered by customers during the process of getting construction permit. Regarding the whole assessment system, the general population expresses displeasure. SEM results indicate that environment and quality are significantly related to customer satisfaction.

This paper's novelty lies in its Nepal-specific inquiry into the relationship between building permit acquisition procedures and customer contentment. The study provides a distinctive viewpoint on this context by combining evaluation model theory and SEM. The localized approach emphasizes the importance of customized strategies to improve customer satisfaction, adding to the current literature on the subject. The study's use of SEM as a quantitative analysis tool enhances its methodological rigor. This interdisciplinary research offers valuable insights for academics, practitioners and policymakers in Nepal and contributes to the wider field of construction and customer satisfaction.

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Evaluation of building construction permission certificate and customer satisfaction in Lalitpur city: evidence from structural equation modeling10.1108/JEAS-01-2023-0025Journal of Economic and Administrative Sciences2023-10-31© 2023 Emerald Publishing LimitedRuman ThapaNiranjan DevkotaKrishna DhakalVaibhav PuriSurendra MahatoUdaya Raj PaudelJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-10-3110.1108/JEAS-01-2023-0025https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2023-0025/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Role of perceived COVID-19 disruption, personality traits and risk perception in determining the investment behavior of retail investors: a hybrid regression-neural network approachhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2023-0026/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to assess the impact of personality traits, risk perception and perceived coronavirus disease 2019 (COVID-19) disruption on the investment behavior of individual investors in the Indian stock market. This study adopts a survey approach. The sample comprises 315 active retail investors investing in the Indian stock exchange. Two-stage analysis technique regression and Artificial Neural Network (ANN) were used for data analysis. Study hypotheses were tested through regression and ANN was adopted to validate the regression results. Two regression models were modeled to test the research hypotheses. Findings showed that risk perception and COVID-19 disruption have a significant positive and neuroticism has a significant negative impact on short-term investment decisions, while the role of conscientiousness in determining short-term investment decisions was not found significant. Results also showed a positive impact of neuroticism and conscientiousness and a negative impact of risk perception on long-term investment decisions. The role of COVID-19 disruption was found negative but insignificant in predicting long-term investment decisions. This study has practical implications for many parties like retail investors, financial advisors and policymakers. This study will assist the investors to realize that they do not always take rational financial decisions. This study will suggest the financial advisors to use the knowledge of behavioral finance in making the advisors' advisory and wealth management decisions. This study will also assist the policymakers to outline behaviorally well-informed policy decisions to protect the interests of investors. India is one of the fast-growing economies in the world. India has a vast population of active investors and determining investors' investment behavior adds novelty to this study as developed economies have remained the main focus of previous studies. The other novel feature of this study is that this study tries to assess the impact of COVID-19 disruption along with personality traits and risk perception on investment behavior. The other valuable factor of this study is the use of ANN to predict the relative importance of the exogenous variables.Role of perceived COVID-19 disruption, personality traits and risk perception in determining the investment behavior of retail investors: a hybrid regression-neural network approach
Arfat Manzoor, Andleebah Jan, Mohammad Shafi, Mohammad Ashraf Parry, Tawseef Mir
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to assess the impact of personality traits, risk perception and perceived coronavirus disease 2019 (COVID-19) disruption on the investment behavior of individual investors in the Indian stock market.

This study adopts a survey approach. The sample comprises 315 active retail investors investing in the Indian stock exchange. Two-stage analysis technique regression and Artificial Neural Network (ANN) were used for data analysis. Study hypotheses were tested through regression and ANN was adopted to validate the regression results.

Two regression models were modeled to test the research hypotheses. Findings showed that risk perception and COVID-19 disruption have a significant positive and neuroticism has a significant negative impact on short-term investment decisions, while the role of conscientiousness in determining short-term investment decisions was not found significant. Results also showed a positive impact of neuroticism and conscientiousness and a negative impact of risk perception on long-term investment decisions. The role of COVID-19 disruption was found negative but insignificant in predicting long-term investment decisions.

This study has practical implications for many parties like retail investors, financial advisors and policymakers. This study will assist the investors to realize that they do not always take rational financial decisions. This study will suggest the financial advisors to use the knowledge of behavioral finance in making the advisors' advisory and wealth management decisions. This study will also assist the policymakers to outline behaviorally well-informed policy decisions to protect the interests of investors.

India is one of the fast-growing economies in the world. India has a vast population of active investors and determining investors' investment behavior adds novelty to this study as developed economies have remained the main focus of previous studies. The other novel feature of this study is that this study tries to assess the impact of COVID-19 disruption along with personality traits and risk perception on investment behavior. The other valuable factor of this study is the use of ANN to predict the relative importance of the exogenous variables.

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Role of perceived COVID-19 disruption, personality traits and risk perception in determining the investment behavior of retail investors: a hybrid regression-neural network approach10.1108/JEAS-01-2023-0026Journal of Economic and Administrative Sciences2023-07-03© 2023 Emerald Publishing LimitedArfat ManzoorAndleebah JanMohammad ShafiMohammad Ashraf ParryTawseef MirJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-07-0310.1108/JEAS-01-2023-0026https://www.emerald.com/insight/content/doi/10.1108/JEAS-01-2023-0026/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
A business cycle model with money-in-utility (MIU) and government sector: the case of Bulgaria (1999–2020)https://www.emerald.com/insight/content/doi/10.1108/JEAS-02-2022-0029/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe author augments an otherwise standard business cycle model with a richer government sector and adds money-in-utility (MIU) considerations to study economic fluctuations. More specifically, real money balances enter in a non-separable way with consumption and leisure. This specification is then calibrated to Bulgarian data after the introduction of the currency board (1999–2020) gives a role to money in accentuating economic fluctuations. This novel mechanism allows the framework to reproduce – better than the real business cycle (RBC) model – the observed variability and correlations among model variables, and those characterizing the labor market in particular. In addition, money is non-neutral and affects aggregate economic activity. This is the first micro-founded monetary-DSGE (dynamic stochastic general equilibrium) model on Bulgaria trying to explain the role of money for economic fluctuations.A business cycle model with money-in-utility (MIU) and government sector: the case of Bulgaria (1999–2020)
Aleksandar Vasilev
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The author augments an otherwise standard business cycle model with a richer government sector and adds money-in-utility (MIU) considerations to study economic fluctuations.

More specifically, real money balances enter in a non-separable way with consumption and leisure. This specification is then calibrated to Bulgarian data after the introduction of the currency board (1999–2020) gives a role to money in accentuating economic fluctuations.

This novel mechanism allows the framework to reproduce – better than the real business cycle (RBC) model – the observed variability and correlations among model variables, and those characterizing the labor market in particular. In addition, money is non-neutral and affects aggregate economic activity.

This is the first micro-founded monetary-DSGE (dynamic stochastic general equilibrium) model on Bulgaria trying to explain the role of money for economic fluctuations.

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A business cycle model with money-in-utility (MIU) and government sector: the case of Bulgaria (1999–2020)10.1108/JEAS-02-2022-0029Journal of Economic and Administrative Sciences2022-04-18© 2022 Emerald Publishing LimitedAleksandar VasilevJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-04-1810.1108/JEAS-02-2022-0029https://www.emerald.com/insight/content/doi/10.1108/JEAS-02-2022-0029/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Optimal fiscal policy in a model with reciprocity in labor relations: the case of Bulgariahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-02-2022-0030/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper explores the effects of fiscal policy in an economy with reciprocity in labor relations and fair wages, consumption taxes and a common income tax rate in place. To this end, a dynamic general-equilibrium model with government sector is calibrated to Bulgarian data (1999–2018). Two regimes are compared and contrasted – the exogenous (observed) vs optimal policy (Ramsey) case. The focus of the paper is on the relative importance of consumption vs income taxation, as well as on the provision of utility-enhancing public services. Bulgarian economy was chosen as a case study due to its major dependence on consumption taxation as a source of tax revenue. (1) The optimal steady-state income tax rate is zero; (2) the benevolent Ramsey planner provides the optimal amount of the utility-enhancing public services, which are now three times lower; (3) the optimal steady-state consumption tax needed to finance the optimal level of government spending is 18:7%. This is the first study on optimal fiscal policy with reciprocity in labor relations.Optimal fiscal policy in a model with reciprocity in labor relations: the case of Bulgaria
Aleksandar Vasilev
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper explores the effects of fiscal policy in an economy with reciprocity in labor relations and fair wages, consumption taxes and a common income tax rate in place.

To this end, a dynamic general-equilibrium model with government sector is calibrated to Bulgarian data (1999–2018). Two regimes are compared and contrasted – the exogenous (observed) vs optimal policy (Ramsey) case. The focus of the paper is on the relative importance of consumption vs income taxation, as well as on the provision of utility-enhancing public services. Bulgarian economy was chosen as a case study due to its major dependence on consumption taxation as a source of tax revenue.

(1) The optimal steady-state income tax rate is zero; (2) the benevolent Ramsey planner provides the optimal amount of the utility-enhancing public services, which are now three times lower; (3) the optimal steady-state consumption tax needed to finance the optimal level of government spending is 18:7%.

This is the first study on optimal fiscal policy with reciprocity in labor relations.

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Optimal fiscal policy in a model with reciprocity in labor relations: the case of Bulgaria10.1108/JEAS-02-2022-0030Journal of Economic and Administrative Sciences2022-08-02© 2022 Emerald Publishing LimitedAleksandar VasilevJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-08-0210.1108/JEAS-02-2022-0030https://www.emerald.com/insight/content/doi/10.1108/JEAS-02-2022-0030/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Measuring buying intention of generation Z on social networking sites: an application of social commerce adoption modelhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-02-2022-0047/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe present study intends to measure buying intention of Generation Z (Gen Z) on social networking sites (SNSs) incorporating perceived risk with the social commerce adoption model (SCAM). Data were collected via an online questionnaire, and the study used a total of 349 accurate and useable responses. The population of the study includes Indian young consumers coming from the Gen Z cohort. Data were analyzed using SPSS 20 and AMOS 22.0. The proposed hypotheses were statistically tested. The empirical results show that perceived risk is a significant and strong predictor of perceived usefulness that, in turn, negatively influences buying intention. Among all the constructs of SCAM, perceived usefulness is the most influential and strongest predictor of buying intention. The proposed model explained approximately 34% of the variance in the behavioral intention. Based on the findings of this study, many theoretical and practical implications may be inferred that can be used to make recommendations to social commerce companies and help them understand the buying intention of Gen Z. There are many studies that have examined buying intention and a few have measured it on Gen Z. The present study is novel in itself as it has measured the buying intention of Gen Z using the SCAM in the Indian context. Hence, the present research attempts to comprehend the variables influencing buying intention and analyses the relationship between these factors in the social media setting.Measuring buying intention of generation Z on social networking sites: an application of social commerce adoption model
Mohd Azhar, Mohd Junaid Akhtar, Mohd Nayyer Rahman, Fawaz Ahmad Khan
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The present study intends to measure buying intention of Generation Z (Gen Z) on social networking sites (SNSs) incorporating perceived risk with the social commerce adoption model (SCAM).

Data were collected via an online questionnaire, and the study used a total of 349 accurate and useable responses. The population of the study includes Indian young consumers coming from the Gen Z cohort. Data were analyzed using SPSS 20 and AMOS 22.0. The proposed hypotheses were statistically tested.

The empirical results show that perceived risk is a significant and strong predictor of perceived usefulness that, in turn, negatively influences buying intention. Among all the constructs of SCAM, perceived usefulness is the most influential and strongest predictor of buying intention. The proposed model explained approximately 34% of the variance in the behavioral intention.

Based on the findings of this study, many theoretical and practical implications may be inferred that can be used to make recommendations to social commerce companies and help them understand the buying intention of Gen Z.

There are many studies that have examined buying intention and a few have measured it on Gen Z. The present study is novel in itself as it has measured the buying intention of Gen Z using the SCAM in the Indian context. Hence, the present research attempts to comprehend the variables influencing buying intention and analyses the relationship between these factors in the social media setting.

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Measuring buying intention of generation Z on social networking sites: an application of social commerce adoption model10.1108/JEAS-02-2022-0047Journal of Economic and Administrative Sciences2023-04-20© 2023 Emerald Publishing LimitedMohd AzharMohd Junaid AkhtarMohd Nayyer RahmanFawaz Ahmad KhanJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-04-2010.1108/JEAS-02-2022-0047https://www.emerald.com/insight/content/doi/10.1108/JEAS-02-2022-0047/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Cash holding and bankruptcy risk in Egyptian firms: the moderating effect of corporate social responsibilityhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-02-2022-0049/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to investigate the impact of cash holding (CH) on bankruptcy (BR) risk. This study also examines the moderating effect of corporate social responsibility (CSR) practices on this relationship. The data were extracted from firms' annual reports. The panel data were used for 68 firms listed at the Egyptian Stock Exchange (EGX) with a total of 340 observations from 2015 to 2019. The research hypotheses were tested using the panel corrected standards errors (PCSE) method and the feasible generalized least squares (FGLS) method. The results reveal that (1) CH has a positive effect on the Z-score (decreasing bankruptcy risk) of the Egyptian listed firms. (2) Egyptian firms that practice CSR have a low level of bankruptcy risk. (3) CSR practices in Egyptian listed firms support the positive relationship between CH and Z-score (declining bankruptcy risk). The limitations of this study include a relatively small sample size. In addition, the analysis doesn't include other measures of bankruptcy risk due to a lack of data. The findings of this study will help investors and creditors to evaluate and predict the firms' bankruptcy risk. This study highlights the importance of cash holding for firms in emerging economies. Firms may hold cash to support liquidity, overcome financial distress risk, lower the cost of capital, increase future investment opportunities and reduce uncertainty. Additionally, the results would also help the policymakers, regulators at the EGX and Financial Regulatory Authority and stakeholders to realize the importance of cash holding, evaluate the cash liquidity in Egyptian listed firms, predict the firms' financial distress and consider the consequences of the CSR practices in accordance with Egypt's vision 2030. Consistent with liquidity preference theory and trade-off theory, this study adds evidence to the literature on bankruptcy risk by investigating the effect of cash holding on bankruptcy risk in emerging economies. According to Egypt's vision 2030, the empirical findings in this study extend previous findings by providing strong additional evidence in emerging economies regarding the moderating effect of CSR practices on the association between cash holding and bankruptcy risk. To the best of our knowledge, this study is the first to investigate the relationship between CSR, CH and BR risk in Egypt.Cash holding and bankruptcy risk in Egyptian firms: the moderating effect of corporate social responsibility
Emad Sayed, Manal Khalil
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to investigate the impact of cash holding (CH) on bankruptcy (BR) risk. This study also examines the moderating effect of corporate social responsibility (CSR) practices on this relationship.

The data were extracted from firms' annual reports. The panel data were used for 68 firms listed at the Egyptian Stock Exchange (EGX) with a total of 340 observations from 2015 to 2019. The research hypotheses were tested using the panel corrected standards errors (PCSE) method and the feasible generalized least squares (FGLS) method.

The results reveal that (1) CH has a positive effect on the Z-score (decreasing bankruptcy risk) of the Egyptian listed firms. (2) Egyptian firms that practice CSR have a low level of bankruptcy risk. (3) CSR practices in Egyptian listed firms support the positive relationship between CH and Z-score (declining bankruptcy risk).

The limitations of this study include a relatively small sample size. In addition, the analysis doesn't include other measures of bankruptcy risk due to a lack of data.

The findings of this study will help investors and creditors to evaluate and predict the firms' bankruptcy risk. This study highlights the importance of cash holding for firms in emerging economies. Firms may hold cash to support liquidity, overcome financial distress risk, lower the cost of capital, increase future investment opportunities and reduce uncertainty. Additionally, the results would also help the policymakers, regulators at the EGX and Financial Regulatory Authority and stakeholders to realize the importance of cash holding, evaluate the cash liquidity in Egyptian listed firms, predict the firms' financial distress and consider the consequences of the CSR practices in accordance with Egypt's vision 2030.

Consistent with liquidity preference theory and trade-off theory, this study adds evidence to the literature on bankruptcy risk by investigating the effect of cash holding on bankruptcy risk in emerging economies. According to Egypt's vision 2030, the empirical findings in this study extend previous findings by providing strong additional evidence in emerging economies regarding the moderating effect of CSR practices on the association between cash holding and bankruptcy risk. To the best of our knowledge, this study is the first to investigate the relationship between CSR, CH and BR risk in Egypt.

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Cash holding and bankruptcy risk in Egyptian firms: the moderating effect of corporate social responsibility10.1108/JEAS-02-2022-0049Journal of Economic and Administrative Sciences2022-08-23© 2022 Emerald Publishing LimitedEmad SayedManal KhalilJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-08-2310.1108/JEAS-02-2022-0049https://www.emerald.com/insight/content/doi/10.1108/JEAS-02-2022-0049/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Impact of sustainable supply chain management on cost performance: empirical evidence from manufacturing companies of Bangladeshhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-02-2022-0050/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe aim of the study has been performed to investigate the relationship between sustainable supply chain management (SSCM) practices and the cost performance of manufacturing firms in Bangladesh. Moreover, this paper highlights the key environment-friendly approaches and their association with financial performance in Bangladesh. The paper empirically assesses sustainable supply chain performance using four major supply chain practices, including sustainable procurement, sustainable production, sustainable distribution and investment recovery, and compares it with the cost performance. Twenty-four variables were identified through different literature and distributed as a structured questionnaire among the managers appointed in different manufacturing firms in Bangladesh. An empirical study was conducted using the Partial Least Square-Structural Equation Modeling (PLS-SEM) technique to examine the hypothesized relationships. The results find a positive relationship in two variables of sustainable supply chain practices, including sustainable procurement and investment recovery, while sustainable distribution negatively impacted cost performance. In addition, sustainable production found no effect on cost performance. The paper emphasizes the financial perspective of a sustainable supply chain without explicit consideration of sustainability's environmental and social dimensions. This study has implications for the literature on the SSCM approaches of manufacturing firms in the least developed economies. In addition, this study could work as a guideline for some manufacturing industries that prefer a policy or standard to alter their traditional supply chain management system to a sustainable supply chain. The paper provides a comprehensive framework for evaluating the coordinated effect of SSCM practices on cost performance where variables of four specific activities of SSCM and cost performance are adopted from different studies. Further studies could be initiated, including some other eco-friendly supply chain variables, and the effect could be evaluated from an environmental perspective.Impact of sustainable supply chain management on cost performance: empirical evidence from manufacturing companies of Bangladesh
Zobaida Khanam, Ratan Ghosh
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The aim of the study has been performed to investigate the relationship between sustainable supply chain management (SSCM) practices and the cost performance of manufacturing firms in Bangladesh. Moreover, this paper highlights the key environment-friendly approaches and their association with financial performance in Bangladesh.

The paper empirically assesses sustainable supply chain performance using four major supply chain practices, including sustainable procurement, sustainable production, sustainable distribution and investment recovery, and compares it with the cost performance. Twenty-four variables were identified through different literature and distributed as a structured questionnaire among the managers appointed in different manufacturing firms in Bangladesh. An empirical study was conducted using the Partial Least Square-Structural Equation Modeling (PLS-SEM) technique to examine the hypothesized relationships.

The results find a positive relationship in two variables of sustainable supply chain practices, including sustainable procurement and investment recovery, while sustainable distribution negatively impacted cost performance. In addition, sustainable production found no effect on cost performance.

The paper emphasizes the financial perspective of a sustainable supply chain without explicit consideration of sustainability's environmental and social dimensions.

This study has implications for the literature on the SSCM approaches of manufacturing firms in the least developed economies. In addition, this study could work as a guideline for some manufacturing industries that prefer a policy or standard to alter their traditional supply chain management system to a sustainable supply chain.

The paper provides a comprehensive framework for evaluating the coordinated effect of SSCM practices on cost performance where variables of four specific activities of SSCM and cost performance are adopted from different studies. Further studies could be initiated, including some other eco-friendly supply chain variables, and the effect could be evaluated from an environmental perspective.

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Impact of sustainable supply chain management on cost performance: empirical evidence from manufacturing companies of Bangladesh10.1108/JEAS-02-2022-0050Journal of Economic and Administrative Sciences2022-11-23© 2022 Emerald Publishing LimitedZobaida KhanamRatan GhoshJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-11-2310.1108/JEAS-02-2022-0050https://www.emerald.com/insight/content/doi/10.1108/JEAS-02-2022-0050/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
The autobiography of environmental, social and governance (ESG)https://www.emerald.com/insight/content/doi/10.1108/JEAS-02-2023-0041/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe current essay aims to generate critical reflections on environment, social and governance (ESG) based on observations, experiences, literature reviews and logical reasoning. The essay adopts the methodology of first-person omniscient, where the narrator (ESG in this essay) is a character in the story. In this methodology, the ESG is also aware of the thoughts and feelings of all the other characters, such as the ESG practitioners, academics, researchers, lawmakers and relevant stakeholders. The essay concludes that the relevance of ESG is broader than what is currently perceived. The piece endorses a view to look at ESG from other perspectives and benefits, not only from its financial relevance. It should be understood and implemented at the grassroots level. The essay is one of its kind to reflect on the current ESG landscape. It attempts to redirect the debate on ESG toward the origin of its very existence.The autobiography of environmental, social and governance (ESG)
Kuldeep Singh
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The current essay aims to generate critical reflections on environment, social and governance (ESG) based on observations, experiences, literature reviews and logical reasoning.

The essay adopts the methodology of first-person omniscient, where the narrator (ESG in this essay) is a character in the story. In this methodology, the ESG is also aware of the thoughts and feelings of all the other characters, such as the ESG practitioners, academics, researchers, lawmakers and relevant stakeholders.

The essay concludes that the relevance of ESG is broader than what is currently perceived. The piece endorses a view to look at ESG from other perspectives and benefits, not only from its financial relevance. It should be understood and implemented at the grassroots level.

The essay is one of its kind to reflect on the current ESG landscape. It attempts to redirect the debate on ESG toward the origin of its very existence.

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The autobiography of environmental, social and governance (ESG)10.1108/JEAS-02-2023-0041Journal of Economic and Administrative Sciences2023-06-02© 2023 Emerald Publishing LimitedKuldeep SinghJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-06-0210.1108/JEAS-02-2023-0041https://www.emerald.com/insight/content/doi/10.1108/JEAS-02-2023-0041/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Revisiting the corporate governance and corporate performance nexus: evidence from value-based metricshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-02-2023-0043/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study seeks to empirically examine the influence of corporate governance on corporate performance in Ghana. The study employs data from 30 listed firms spanning from 2008 to 2018 and applies the generalized method of moments technique. The authors use economic value added, shareholder value added (SVA) and economic margin (EM) as measures of corporate performance. The findings reveal that the presence of both inside directors and outside (nonexecutive) directors significantly improves corporate performance, lending credence to both the stewardship theory and the agency theory. The inclusion of women on the corporate boards and frequent meetings of the board reduce the economic profits of firms. The authors find that CEO duality impedes corporate performance, supporting the presumption of the agency theory. The study further reveals that audit committee size and ownership concentration positively drive the performance of quoted firms in Ghana. Prior studies on corporate governance and firm performance nexus have chiefly adopted traditional accounting-based performance measures such as return on assets and return on equity to evaluate firm performance. However, these indicators are critiqued for being historic and fail to consider firms' cost of equity. In light of the shortcomings of the accounting-based proxies, this study takes a unique direction by using value-based metrics, which are considered superior measures of performance. Besides, to the best of the authors' knowledge, this study provides a first attempt to investigate the link between corporate governance and firm performance using SVA and EM as performance indicators.Revisiting the corporate governance and corporate performance nexus: evidence from value-based metrics
Ibrahim Nandom Yakubu, Ayhan Kapusuzoglu, Nildag Basak Ceylan
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study seeks to empirically examine the influence of corporate governance on corporate performance in Ghana.

The study employs data from 30 listed firms spanning from 2008 to 2018 and applies the generalized method of moments technique. The authors use economic value added, shareholder value added (SVA) and economic margin (EM) as measures of corporate performance.

The findings reveal that the presence of both inside directors and outside (nonexecutive) directors significantly improves corporate performance, lending credence to both the stewardship theory and the agency theory. The inclusion of women on the corporate boards and frequent meetings of the board reduce the economic profits of firms. The authors find that CEO duality impedes corporate performance, supporting the presumption of the agency theory. The study further reveals that audit committee size and ownership concentration positively drive the performance of quoted firms in Ghana.

Prior studies on corporate governance and firm performance nexus have chiefly adopted traditional accounting-based performance measures such as return on assets and return on equity to evaluate firm performance. However, these indicators are critiqued for being historic and fail to consider firms' cost of equity. In light of the shortcomings of the accounting-based proxies, this study takes a unique direction by using value-based metrics, which are considered superior measures of performance. Besides, to the best of the authors' knowledge, this study provides a first attempt to investigate the link between corporate governance and firm performance using SVA and EM as performance indicators.

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Revisiting the corporate governance and corporate performance nexus: evidence from value-based metrics10.1108/JEAS-02-2023-0043Journal of Economic and Administrative Sciences2023-10-30© 2023 Emerald Publishing LimitedIbrahim Nandom YakubuAyhan KapusuzogluNildag Basak CeylanJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-10-3010.1108/JEAS-02-2023-0043https://www.emerald.com/insight/content/doi/10.1108/JEAS-02-2023-0043/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Dynamic inference of healthcare expenditure on economic growth in Sub-Saharan Africa: a dynamic heterogenous panel data analysishttps://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2021-0049/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis article investigates the dynamic implication of healthcare expenditure on economic growth in the selected ten Sub-Saharan African countries over the period 2000–2018. The study methodology included dynamic heterogenous panel, using mean group and pooled mean group estimators. The investigation of the healthcare expenditure and economic growth nexus was achieved while controlling the effects of investment, savings, labor force and life expectancy via interaction terms. The results from linear healthcare expenditure have a significant positive impact on economic growth, while the nonlinear estimates through the interaction terms between healthcare expenditure and investment have a negative statistically significant impact on growth. The marginal effect of healthcare expenditure evaluated at the minimum and maximum level of investment is positive, suggesting the impact of health expenditure on growth does not vary with the level of investments. This result responds to the primary objective of the article. In policy terms, the impact of investment on healthcare is essential to addressing future health crises. The impact of coronavirus disease 2019 (COVID-19) can never be separated from the shortages or low prioritization of health against other sectors of the economy. The article also provides an insight to policymakers on the demand for policy reform that will boost and make the health sector attractive to both domestic and foreign direct investment. Given the vulnerability of SSA to the health crisis, there are limited studies to examine this phenomenon and first to address the needed investment priorities to the health sector infrastructure in SSA.Dynamic inference of healthcare expenditure on economic growth in Sub-Saharan Africa: a dynamic heterogenous panel data analysis
Idris Abdullahi Abdulqadir, Bello Malam Sa'idu, Ibrahim Muhammad Adam, Fatima Binta Haruna, Mustapha Adamu Zubairu, Maimunatu Aboki
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This article investigates the dynamic implication of healthcare expenditure on economic growth in the selected ten Sub-Saharan African countries over the period 2000–2018.

The study methodology included dynamic heterogenous panel, using mean group and pooled mean group estimators. The investigation of the healthcare expenditure and economic growth nexus was achieved while controlling the effects of investment, savings, labor force and life expectancy via interaction terms.

The results from linear healthcare expenditure have a significant positive impact on economic growth, while the nonlinear estimates through the interaction terms between healthcare expenditure and investment have a negative statistically significant impact on growth. The marginal effect of healthcare expenditure evaluated at the minimum and maximum level of investment is positive, suggesting the impact of health expenditure on growth does not vary with the level of investments. This result responds to the primary objective of the article.

In policy terms, the impact of investment on healthcare is essential to addressing future health crises. The impact of coronavirus disease 2019 (COVID-19) can never be separated from the shortages or low prioritization of health against other sectors of the economy. The article also provides an insight to policymakers on the demand for policy reform that will boost and make the health sector attractive to both domestic and foreign direct investment.

Given the vulnerability of SSA to the health crisis, there are limited studies to examine this phenomenon and first to address the needed investment priorities to the health sector infrastructure in SSA.

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Dynamic inference of healthcare expenditure on economic growth in Sub-Saharan Africa: a dynamic heterogenous panel data analysis10.1108/JEAS-03-2021-0049Journal of Economic and Administrative Sciences2022-01-18© 2021 Emerald Publishing LimitedIdris Abdullahi AbdulqadirBello Malam Sa'iduIbrahim Muhammad AdamFatima Binta HarunaMustapha Adamu ZubairuMaimunatu AbokiJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-01-1810.1108/JEAS-03-2021-0049https://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2021-0049/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2021 Emerald Publishing Limited
Inclusive organization: inclusion by reducing female managers' vulnerabilities through social mediahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2021-0062/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestFemale managers have numerous vulnerabilities related to their reputation and career progression in addition to social, sexual and discriminatory vulnerabilities. In organizational settings, antagonized subordinates, peers or superiors can exploit their vulnerabilities through negative use of social media. For optimal performance and inclusion in organizational activities, it is essential to protect female managers against exploitation. Social media can be used for this purpose and dictates an investigation into it as an agent to reduce vulnerabilities and enhance inclusion of female managers. Qualitative data collected through 25 in-depth semi-structured interviews from respondents belonging to five different organizations has been used in this exploratory study. Thematic analysis was done to reach the underlying structures of subjective responses of female managers. This study finds that positive use of social media is effective in reducing vulnerabilities and female managers feel more included and protected against exploitation in inclusive organizations. The study presents a holistic view of vulnerabilities of female managers, various forms taken by negative use of social media, mechanics of positive use of social media and pathways to inclusive organization through reduction of vulnerabilities. Availability of limited time, resources and a single cultural context were few limitations. The study highlights an important area for further research indicating psychological trauma of victimized female managers forcing them to feel excluded from the organization. This study will enhance understanding of practitioners about vulnerabilities of female managers and its likely accentuation through negative use of social media. In addition, they can learn the use of social media for reducing vulnerabilities and enhancing inclusion of female managers. This study also shed light on methodology to handle the situation in the face of all forms of negative use of social media. Female managers are highly vulnerable to exploitation through use of social media by antagonized groups and individuals who can easily attack their reputation and image. This study is an effort to reduce vulnerabilities of business women. Additionally, it is also aimed at enhancing inclusion of females in organizational activities to counter their isolation and discrimination on the basis of gender. The issue of negative use of social media has not received attention of scholars. Being a research gap, exploratory study based on qualitative responses has been conducted to explore different facets of the issue. In-depth interviews have been conducted to collect primary data.Inclusive organization: inclusion by reducing female managers' vulnerabilities through social media
Muhammad Irfan, Omar Khalid Bhatti, Ali Osman Ozturk
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Female managers have numerous vulnerabilities related to their reputation and career progression in addition to social, sexual and discriminatory vulnerabilities. In organizational settings, antagonized subordinates, peers or superiors can exploit their vulnerabilities through negative use of social media. For optimal performance and inclusion in organizational activities, it is essential to protect female managers against exploitation. Social media can be used for this purpose and dictates an investigation into it as an agent to reduce vulnerabilities and enhance inclusion of female managers.

Qualitative data collected through 25 in-depth semi-structured interviews from respondents belonging to five different organizations has been used in this exploratory study. Thematic analysis was done to reach the underlying structures of subjective responses of female managers.

This study finds that positive use of social media is effective in reducing vulnerabilities and female managers feel more included and protected against exploitation in inclusive organizations. The study presents a holistic view of vulnerabilities of female managers, various forms taken by negative use of social media, mechanics of positive use of social media and pathways to inclusive organization through reduction of vulnerabilities.

Availability of limited time, resources and a single cultural context were few limitations. The study highlights an important area for further research indicating psychological trauma of victimized female managers forcing them to feel excluded from the organization.

This study will enhance understanding of practitioners about vulnerabilities of female managers and its likely accentuation through negative use of social media. In addition, they can learn the use of social media for reducing vulnerabilities and enhancing inclusion of female managers. This study also shed light on methodology to handle the situation in the face of all forms of negative use of social media.

Female managers are highly vulnerable to exploitation through use of social media by antagonized groups and individuals who can easily attack their reputation and image. This study is an effort to reduce vulnerabilities of business women. Additionally, it is also aimed at enhancing inclusion of females in organizational activities to counter their isolation and discrimination on the basis of gender.

The issue of negative use of social media has not received attention of scholars. Being a research gap, exploratory study based on qualitative responses has been conducted to explore different facets of the issue. In-depth interviews have been conducted to collect primary data.

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Inclusive organization: inclusion by reducing female managers' vulnerabilities through social media10.1108/JEAS-03-2021-0062Journal of Economic and Administrative Sciences2022-01-21© 2021 Emerald Publishing LimitedMuhammad IrfanOmar Khalid BhattiAli Osman OzturkJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-01-2110.1108/JEAS-03-2021-0062https://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2021-0062/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2021 Emerald Publishing Limited
Impact of transparency and disclosure (T&D) and financial distress (FD) on the valuation of banks in Indiahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2022-0053/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe authors have attempted to reveal the impact that transparency and disclosure (T&D) and financial distress (FD) have on the valuation of banks working in India. T&D involves disclosing the firm's operational and financial performance and corporate governance practices. FD is a position in which a company or individual is not in a condition to fulfill their promise of paying their obligations on time. In this study, the authors have used panel data analysis (PDA) and secondary data of 34 banks working in the Indian banking sector for four financial years, i.e. 2016 to 2019. This study has established that FD and T&D have a positive and significant impact on the valuation of firms. The authors also find evidence that T&D significantly impacts the value of firms under the influence of FD. The present study implies that it will help firms realize how significantly the transparency level and disclosure policies impact their value in the market. Firms can understand how badly distressing situations can impact the company's whole image. This learning will encourage them to start managing their money and debts efficiently. The authors study has considered T&D as an independent variable and FD as a moderating variable to find the interacting impact of T&D and FD on the valuation of banks working in India. No such study has come to the authors' knowledge that has established such a relationship of variables in the study.Impact of transparency and disclosure (T&D) and financial distress (FD) on the valuation of banks in India
Aashi Rawal, Shailesh Rastogi, Jagjeevan Kanoujiya, Venkata Mrudula Bhimavarapu
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The authors have attempted to reveal the impact that transparency and disclosure (T&D) and financial distress (FD) have on the valuation of banks working in India. T&D involves disclosing the firm's operational and financial performance and corporate governance practices. FD is a position in which a company or individual is not in a condition to fulfill their promise of paying their obligations on time.

In this study, the authors have used panel data analysis (PDA) and secondary data of 34 banks working in the Indian banking sector for four financial years, i.e. 2016 to 2019.

This study has established that FD and T&D have a positive and significant impact on the valuation of firms. The authors also find evidence that T&D significantly impacts the value of firms under the influence of FD.

The present study implies that it will help firms realize how significantly the transparency level and disclosure policies impact their value in the market. Firms can understand how badly distressing situations can impact the company's whole image. This learning will encourage them to start managing their money and debts efficiently.

The authors study has considered T&D as an independent variable and FD as a moderating variable to find the interacting impact of T&D and FD on the valuation of banks working in India. No such study has come to the authors' knowledge that has established such a relationship of variables in the study.

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Impact of transparency and disclosure (T&D) and financial distress (FD) on the valuation of banks in India10.1108/JEAS-03-2022-0053Journal of Economic and Administrative Sciences2022-06-29© 2022 Emerald Publishing LimitedAashi RawalShailesh RastogiJagjeevan KanoujiyaVenkata Mrudula BhimavarapuJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-06-2910.1108/JEAS-03-2022-0053https://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2022-0053/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Taxing Africa for inclusive human development: the mediating role of governance qualityhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2022-0061/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestGiven that the literature on the links between taxation and inclusive human development is ambiguous, it is important to investigate whether the mediating influence of governance in taxation for inclusive development exists. Thus, this study aims to explore the linkages between the governance quality, taxation and inclusive human development (i.e. inequality-adjusted human development index). This study employs the generalized method of moments (GMM) technique to establish the empirical findings on 52 African countries for the period 2010–2018. Among the existing GMM approaches, this study follows the Roodman approach, an enhancement of the Arellano and Bover techniques, which limits the proliferation of instruments. This study uses the two-step approach, which deals with issues of the heteroscedasticity as against instead the one-step procedure, which solely addresses the homoscedasticity concerns. The following findings are established. First, there is an unconditional positive effect of taxation on inclusive human development. Second, the net effects of taxation on inclusive human development, associated with the interaction of the government revenue with governance quality variables, are positive for the most part. It is then evident that when taxation policies are combined with good governance initiatives, the ultimate impact of inclusive human development is likely to be enhanced. This study establishes that, whereas taxation dynamics largely have a favorable incidence in promoting inclusive human development, when such taxation measures are complemented with good governance initiatives, the overall impact of inclusive human development is also likely to be positive. It follows that policies designed to promote political, economic and institutional governance should be implemented in tandem, which policies designed to boost tax performance in the sampled countries. The findings can also be understood from the perspectives that inclusive human development is likely to be boosted when taxation measures are complemented with, (1) the free and fair election and replacement of political leaders (i.e. political governance), (2) the formulation and implementation of inclusive policies for the delivery of public goods (i.e. economic governance) and (3) the respect by citizens and the state of institutions that govern interactions between them (i.e. institutional governance).Taxing Africa for inclusive human development: the mediating role of governance quality
Alex Adegboye, Olayinka Erin, Simplice Asongu
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Given that the literature on the links between taxation and inclusive human development is ambiguous, it is important to investigate whether the mediating influence of governance in taxation for inclusive development exists. Thus, this study aims to explore the linkages between the governance quality, taxation and inclusive human development (i.e. inequality-adjusted human development index).

This study employs the generalized method of moments (GMM) technique to establish the empirical findings on 52 African countries for the period 2010–2018. Among the existing GMM approaches, this study follows the Roodman approach, an enhancement of the Arellano and Bover techniques, which limits the proliferation of instruments. This study uses the two-step approach, which deals with issues of the heteroscedasticity as against instead the one-step procedure, which solely addresses the homoscedasticity concerns.

The following findings are established. First, there is an unconditional positive effect of taxation on inclusive human development. Second, the net effects of taxation on inclusive human development, associated with the interaction of the government revenue with governance quality variables, are positive for the most part. It is then evident that when taxation policies are combined with good governance initiatives, the ultimate impact of inclusive human development is likely to be enhanced.

This study establishes that, whereas taxation dynamics largely have a favorable incidence in promoting inclusive human development, when such taxation measures are complemented with good governance initiatives, the overall impact of inclusive human development is also likely to be positive. It follows that policies designed to promote political, economic and institutional governance should be implemented in tandem, which policies designed to boost tax performance in the sampled countries. The findings can also be understood from the perspectives that inclusive human development is likely to be boosted when taxation measures are complemented with, (1) the free and fair election and replacement of political leaders (i.e. political governance), (2) the formulation and implementation of inclusive policies for the delivery of public goods (i.e. economic governance) and (3) the respect by citizens and the state of institutions that govern interactions between them (i.e. institutional governance).

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Taxing Africa for inclusive human development: the mediating role of governance quality10.1108/JEAS-03-2022-0061Journal of Economic and Administrative Sciences2022-06-16© 2022 Emerald Publishing LimitedAlex AdegboyeOlayinka ErinSimplice AsonguJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-06-1610.1108/JEAS-03-2022-0061https://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2022-0061/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Assessing the role of ICT, governance, and infrastructure on inbound tourism demand in Indiahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2022-0064/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe main purpose of the present research is to explore the possible effectiveness of information and communication technology (ICT), infrastructure development, exchange rate and governance on inbound tourism demand using time series data in India. The stationarity of the variables is checked by using the ADF, PP and KPSS unit root tests. The paper uses the Bayer-Hanck and auto-regressive distributed lag (ARDL) bounds testing approach to cointegration to examine the existence of long-run relationships; the error-correction mechanism for the short-run dynamics and the vector error correction method (VECM) to test the direction of causality. The findings of the research indicate the presence of cointegration among the variables. Further, long-run results indicate infrastructure development, word-of-mouth and ICT have a positive and significant linkage with international tourist arrivals in India. However, ICT has a positive and significant effect on tourist arrivals in the short run as well. The VECM results indicate long-run unidirectional causality from infrastructure, ICT, governance and exchange rate to tourist arrivals. This study implies that inbound tourism demand in India can be augmented by improving infrastructure, governance quality and ICT penetration. For an emerging country like India, this may have far-reaching implications for sustaining and improving tourism sector growth. This paper is the first of its kind to empirically examine the impact of ICT, infrastructure and governance quality in India using modern econometric techniques. Inbound tourism demand research aids government and policymakers in developing effective public policies that would reposition India to gain from a highly competitive global tourism industry.Assessing the role of ICT, governance, and infrastructure on inbound tourism demand in India
Manu Sharma, Geetilaxmi Mohapatra, Arun Kumar Giri
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The main purpose of the present research is to explore the possible effectiveness of information and communication technology (ICT), infrastructure development, exchange rate and governance on inbound tourism demand using time series data in India.

The stationarity of the variables is checked by using the ADF, PP and KPSS unit root tests. The paper uses the Bayer-Hanck and auto-regressive distributed lag (ARDL) bounds testing approach to cointegration to examine the existence of long-run relationships; the error-correction mechanism for the short-run dynamics and the vector error correction method (VECM) to test the direction of causality.

The findings of the research indicate the presence of cointegration among the variables. Further, long-run results indicate infrastructure development, word-of-mouth and ICT have a positive and significant linkage with international tourist arrivals in India. However, ICT has a positive and significant effect on tourist arrivals in the short run as well. The VECM results indicate long-run unidirectional causality from infrastructure, ICT, governance and exchange rate to tourist arrivals.

This study implies that inbound tourism demand in India can be augmented by improving infrastructure, governance quality and ICT penetration. For an emerging country like India, this may have far-reaching implications for sustaining and improving tourism sector growth.

This paper is the first of its kind to empirically examine the impact of ICT, infrastructure and governance quality in India using modern econometric techniques. Inbound tourism demand research aids government and policymakers in developing effective public policies that would reposition India to gain from a highly competitive global tourism industry.

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Assessing the role of ICT, governance, and infrastructure on inbound tourism demand in India10.1108/JEAS-03-2022-0064Journal of Economic and Administrative Sciences2022-08-05© 2022 Emerald Publishing LimitedManu SharmaGeetilaxmi MohapatraArun Kumar GiriJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-08-0510.1108/JEAS-03-2022-0064https://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2022-0064/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
National culture and audit report lag: cross-country investigationhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2022-0066/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to investigate the effect of national culture (power distance, individualism, masculinity, uncertainty avoidance and long-term orientation) on audit report lag. The authors use two econometric approaches (ordinary least squares (OLS) and quantile regression) using STATA software for a sample of 1,208 firm-year observations over the period of 2017–2018. Using Hofstede’s (2001) cultural dimensions (power distance, individualism, masculinity, uncertainty avoidance and long-term orientation), the authors find that masculinity and long-term orientation are positively associated with audit report lag, while uncertainty avoidance is negatively associated with the same variable. Quantile regressions suggest that the adverse effect of masculinity on audit report lag is more prevailing for companies communicating companies' annual reports in a timely manner. Furthermore, the positive association between power distance and audit report lag exists only under tardy disclosure regime. Quantile regressions also confirm that the negative (positive) effect of uncertainty avoidance (long-term orientation) on audit report lag is maintained under different timely disclosure regime. Additional analysis conducted with respect to legal system shows that individualism becomes a significant predictor of audit delays with a significant negative effect for common law countries, while uncertainty avoidance has a positive effect on the same variable in civil law countries characterized by high level of discretion and secrecy. The results of this study suggest that national culture as an informal institution may complement formal institutions (e.g. financial markets) in promoting timely disclosure. For instance, foreign investors may view high uncertainty avoidance scores, in common law emerging economies, as an indicator of transparency and timely disclosure. This study adds to the extant literature a further understanding of the impact of cultural dimensions on timely disclosure, as proxied by, audit report lag. The use of quantile regression approach shows how different timely disclosure regime may affect the association between masculinity, power distance and audit report lag.National culture and audit report lag: cross-country investigation
Fadoua Toumi, Hichem Khlif, Imen Khelil
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to investigate the effect of national culture (power distance, individualism, masculinity, uncertainty avoidance and long-term orientation) on audit report lag.

The authors use two econometric approaches (ordinary least squares (OLS) and quantile regression) using STATA software for a sample of 1,208 firm-year observations over the period of 2017–2018.

Using Hofstede’s (2001) cultural dimensions (power distance, individualism, masculinity, uncertainty avoidance and long-term orientation), the authors find that masculinity and long-term orientation are positively associated with audit report lag, while uncertainty avoidance is negatively associated with the same variable. Quantile regressions suggest that the adverse effect of masculinity on audit report lag is more prevailing for companies communicating companies' annual reports in a timely manner. Furthermore, the positive association between power distance and audit report lag exists only under tardy disclosure regime. Quantile regressions also confirm that the negative (positive) effect of uncertainty avoidance (long-term orientation) on audit report lag is maintained under different timely disclosure regime. Additional analysis conducted with respect to legal system shows that individualism becomes a significant predictor of audit delays with a significant negative effect for common law countries, while uncertainty avoidance has a positive effect on the same variable in civil law countries characterized by high level of discretion and secrecy.

The results of this study suggest that national culture as an informal institution may complement formal institutions (e.g. financial markets) in promoting timely disclosure. For instance, foreign investors may view high uncertainty avoidance scores, in common law emerging economies, as an indicator of transparency and timely disclosure.

This study adds to the extant literature a further understanding of the impact of cultural dimensions on timely disclosure, as proxied by, audit report lag. The use of quantile regression approach shows how different timely disclosure regime may affect the association between masculinity, power distance and audit report lag.

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National culture and audit report lag: cross-country investigation10.1108/JEAS-03-2022-0066Journal of Economic and Administrative Sciences2022-07-12© 2022 Emerald Publishing LimitedFadoua ToumiHichem KhlifImen KhelilJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-07-1210.1108/JEAS-03-2022-0066https://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2022-0066/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
The interaction effect of auditor industry specialisation and board governance on financial reporting timeliness: evidence from the UAEhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2022-0069/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study investigates how the timeliness of financial reporting by listed companies in the United Arab Emirates (UAE) is influenced by the interaction effect between industry-specialist auditors and board governance. The Emirati capital markets – the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) – were used to obtain the data, which covered the seven-year period between 2011 and 2017. In total, 385 observations were obtained. Descriptive statistics and multiple regression were the principal statistical tests employed using the panel data method. The results of the direct effect tests reveal that board independence and industry-specialist auditors have no significant influence on financial reporting timeliness. Nevertheless, the results also show that the timeliness of financial reporting by listed companies in the UAE is influenced by the interaction effect between auditors' industry specialisation and the governance of firm boards. More specifically, the results reveal that financial reporting timeliness is positively associated with board independence for companies audited by industry-specialist auditors. This finding is consistent with the notion that industry-specialist auditors complement the role of effective board governance. This study only focuses on secondary data from non-financial companies listed in the UAE markets. Therefore, the outcomes may not be generalisable to sectors related to finance. Future researchers are recommended to examine financial sectors and apply alternative measurements such as surveys or interviews with directorial boards and external auditors. Furthermore, this study used only one measure of industry-specialist auditors, while board governance was limited to board independence. Future studies could utilise different measurements for industry-specialist auditors and more board governance measures to obtain more robust findings. The evidence provided indicates that when a company listed in the UAE has a high-quality board, it benefits by engaging auditors who specialise in the industry in terms of improving the timeliness of financial reporting. The findings also indicate the need for closer monitoring of management to safeguard their reputation. This might attract the attention of the Big Four audit firms and industry–specialist auditors to continuously re-evaluate their audit work, professional training and staff skills, while they might also try to differentiate their performance and monitoring capabilities from the non-Big Four audit firms and non-industry specialist auditors. The main contribution of this study to the overall body of research is the concept that having independent directors is associated with improved reporting timeliness because financial reports are monitored with greater efficiency by industry–specialist auditors. This study provides evidence for the interaction effect between internal and external governance mechanisms on financial reporting quality, which has not been the focus of prior studies on financial reporting quality.The interaction effect of auditor industry specialisation and board governance on financial reporting timeliness: evidence from the UAE
Mohammed Ali Almuzaiqer, Maslina Ahmad, A.H. Fatima
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study investigates how the timeliness of financial reporting by listed companies in the United Arab Emirates (UAE) is influenced by the interaction effect between industry-specialist auditors and board governance.

The Emirati capital markets – the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) – were used to obtain the data, which covered the seven-year period between 2011 and 2017. In total, 385 observations were obtained. Descriptive statistics and multiple regression were the principal statistical tests employed using the panel data method.

The results of the direct effect tests reveal that board independence and industry-specialist auditors have no significant influence on financial reporting timeliness. Nevertheless, the results also show that the timeliness of financial reporting by listed companies in the UAE is influenced by the interaction effect between auditors' industry specialisation and the governance of firm boards. More specifically, the results reveal that financial reporting timeliness is positively associated with board independence for companies audited by industry-specialist auditors. This finding is consistent with the notion that industry-specialist auditors complement the role of effective board governance.

This study only focuses on secondary data from non-financial companies listed in the UAE markets. Therefore, the outcomes may not be generalisable to sectors related to finance. Future researchers are recommended to examine financial sectors and apply alternative measurements such as surveys or interviews with directorial boards and external auditors. Furthermore, this study used only one measure of industry-specialist auditors, while board governance was limited to board independence. Future studies could utilise different measurements for industry-specialist auditors and more board governance measures to obtain more robust findings.

The evidence provided indicates that when a company listed in the UAE has a high-quality board, it benefits by engaging auditors who specialise in the industry in terms of improving the timeliness of financial reporting. The findings also indicate the need for closer monitoring of management to safeguard their reputation. This might attract the attention of the Big Four audit firms and industry–specialist auditors to continuously re-evaluate their audit work, professional training and staff skills, while they might also try to differentiate their performance and monitoring capabilities from the non-Big Four audit firms and non-industry specialist auditors.

The main contribution of this study to the overall body of research is the concept that having independent directors is associated with improved reporting timeliness because financial reports are monitored with greater efficiency by industry–specialist auditors. This study provides evidence for the interaction effect between internal and external governance mechanisms on financial reporting quality, which has not been the focus of prior studies on financial reporting quality.

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The interaction effect of auditor industry specialisation and board governance on financial reporting timeliness: evidence from the UAE10.1108/JEAS-03-2022-0069Journal of Economic and Administrative Sciences2023-02-28© 2023 Emerald Publishing LimitedMohammed Ali AlmuzaiqerMaslina AhmadA.H. FatimaJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-02-2810.1108/JEAS-03-2022-0069https://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2022-0069/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Trends in E-learning research: bibliometric analysis on Scopus publications post COVID-19 in Asian contexthttps://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2022-0072/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this paper is to explore future directions in E-learning research by analysing data from Scopus indexed publications in order to have a comprehensive overview of the trends and thematic focus post COVID-19 in Asian context. The paper uses Vos viewer and Biblioshiny software packages to analyse the bibliometric data. This software helped in identifying the anatomy of E-learning and their themes which were instrumental in forecasting future trends. The paper depicts the trends in post COVID-19 E-learning research in Asian context. It identifies key publications, authors and journals in the field, with a focus on numerous networks of collaboration between writers and nations, identifying keyword clusters and co-citation analysis clusters. This study also explored that China and the USA are having maximum number of collaborations, whereas, countries like India, the United Kingdom, Singapore and New Zealand have comparatively weaker collaboration networks. So there is lot of potential for these countries for such collaborations. India is the most cited country globally and China is having maximum number of scientific productions per year. The paper has been written by exclusively referring to Scopus database papers. Collecting data from different databases would significantly improve the study. Future researchers can also focus on papers from psychology, computer science and engineering fields as current work is based on open access articles on social business, business and arts and humanities. This research will be useful to educational institutions that use these platforms to offer E-learning content and match future trends. This study will help researchers in understanding the new dimensions in the field of E-learning. The current study uses bibliometric analysis to examine the association between E-learning, higher education and COVID-19. It aids in the identification of new difficulties within the complex and expanding study fields in the world of E-learning. Newly published studies on E-learning trends can improve understanding and bridge the knowledge gap. As a result, recommendations can be made to improve and implement newer strategies in field of education.Trends in E-learning research: bibliometric analysis on Scopus publications post COVID-19 in Asian context
Shipra Pathak, Navjit Singh
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this paper is to explore future directions in E-learning research by analysing data from Scopus indexed publications in order to have a comprehensive overview of the trends and thematic focus post COVID-19 in Asian context.

The paper uses Vos viewer and Biblioshiny software packages to analyse the bibliometric data. This software helped in identifying the anatomy of E-learning and their themes which were instrumental in forecasting future trends.

The paper depicts the trends in post COVID-19 E-learning research in Asian context. It identifies key publications, authors and journals in the field, with a focus on numerous networks of collaboration between writers and nations, identifying keyword clusters and co-citation analysis clusters. This study also explored that China and the USA are having maximum number of collaborations, whereas, countries like India, the United Kingdom, Singapore and New Zealand have comparatively weaker collaboration networks. So there is lot of potential for these countries for such collaborations. India is the most cited country globally and China is having maximum number of scientific productions per year.

The paper has been written by exclusively referring to Scopus database papers. Collecting data from different databases would significantly improve the study. Future researchers can also focus on papers from psychology, computer science and engineering fields as current work is based on open access articles on social business, business and arts and humanities.

This research will be useful to educational institutions that use these platforms to offer E-learning content and match future trends. This study will help researchers in understanding the new dimensions in the field of E-learning.

The current study uses bibliometric analysis to examine the association between E-learning, higher education and COVID-19. It aids in the identification of new difficulties within the complex and expanding study fields in the world of E-learning. Newly published studies on E-learning trends can improve understanding and bridge the knowledge gap. As a result, recommendations can be made to improve and implement newer strategies in field of education.

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Trends in E-learning research: bibliometric analysis on Scopus publications post COVID-19 in Asian context10.1108/JEAS-03-2022-0072Journal of Economic and Administrative Sciences2023-06-14© 2023 Emerald Publishing LimitedShipra PathakNavjit SinghJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-06-1410.1108/JEAS-03-2022-0072https://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2022-0072/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
ICT diffusion, women empowerment, and sustainable development in SAARC countrieshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2022-0073/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe main purpose of this paper is to analyze the role of information and communication technology (ICT) diffusion in women empowerment and in fostering the process of achieving the Sustainable Development Goals (SDGs) in South Asian Association for Regional Cooperation (SAARC) countries using panel data from 2005 to 2020. An ICT diffusion index was constructed using principal component analysis (PCA). Further, the study uses econometric techniques robust to cross-sectional dependence (CSD) which include Pesaran's CSD tests, second-generation unit root test, Pedroni, Kao, Westerlund cointegration test, FMOLS, DCCE, Driscoll–Kraay (DK) regression, and D&H causality tests. ICT diffusion and economic growth have a significant and favorable impact on women's empowerment. However, fertility rates and trade openness harm women's empowerment. In addition, the causality test results depict a bidirectional causal relationship between ICT and women empowerment and between growth and women empowerment. In addition, unidirectional causality is detected between education and women's empowerment. Overall, the findings indicate that expanding ICT and bridging the digital divide, particularly among women, can be effective in achieving empowerment-related SDGs. To date, there are hardly any studies in SAARC context that empirically evaluate the link between ICT, women empowerment, and the issue of sustainability in a unified framework. Therefore, this study is unique in terms of conceptualization and methodological robustness in this context. The study will benefit policymakers and regulatory bodies to formulate appropriate policies to empower women and thereby attain the SDGs by 2030.ICT diffusion, women empowerment, and sustainable development in SAARC countries
Anushka Verma, Arun Kumar Giri, Byomakesh Debata
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The main purpose of this paper is to analyze the role of information and communication technology (ICT) diffusion in women empowerment and in fostering the process of achieving the Sustainable Development Goals (SDGs) in South Asian Association for Regional Cooperation (SAARC) countries using panel data from 2005 to 2020.

An ICT diffusion index was constructed using principal component analysis (PCA). Further, the study uses econometric techniques robust to cross-sectional dependence (CSD) which include Pesaran's CSD tests, second-generation unit root test, Pedroni, Kao, Westerlund cointegration test, FMOLS, DCCE, Driscoll–Kraay (DK) regression, and D&H causality tests.

ICT diffusion and economic growth have a significant and favorable impact on women's empowerment. However, fertility rates and trade openness harm women's empowerment. In addition, the causality test results depict a bidirectional causal relationship between ICT and women empowerment and between growth and women empowerment. In addition, unidirectional causality is detected between education and women's empowerment. Overall, the findings indicate that expanding ICT and bridging the digital divide, particularly among women, can be effective in achieving empowerment-related SDGs.

To date, there are hardly any studies in SAARC context that empirically evaluate the link between ICT, women empowerment, and the issue of sustainability in a unified framework. Therefore, this study is unique in terms of conceptualization and methodological robustness in this context. The study will benefit policymakers and regulatory bodies to formulate appropriate policies to empower women and thereby attain the SDGs by 2030.

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ICT diffusion, women empowerment, and sustainable development in SAARC countries10.1108/JEAS-03-2022-0073Journal of Economic and Administrative Sciences2022-08-19© 2022 Emerald Publishing LimitedAnushka VermaArun Kumar GiriByomakesh DebataJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-08-1910.1108/JEAS-03-2022-0073https://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2022-0073/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Air pollution, health expenditure and economic growth in MINT countries: a trivariate causality testhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2022-0074/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper examines the long-run and dynamic causal relationship among air pollution, health expenditure and economic growth in Mexico, Indonesia, Nigeria and Turkey (MINT countries). The bounds test approach to cointegration and causality test was employed on data covering 1995–2018. The study shows evidence of a long-run relationship among the variables in MINT countries and the causality test confirms the existence of a bidirectional causal nexus between health expenditure and economic growth in the four countries. It also confirms that there is a bidirectional causal relationship between carbon dioxide (CO2) emission and economic growth, except in Nigeria where a unidirectional causal relationship was found running from CO2 emissions to economic growth. In addition, a bidirectional causal relationship was found between air pollution and health expenditure in Turkey, while no causal relationship was found among these variables in Nigeria. This study is limited by available data and it only focuses on four emerging economies. To address this, future studies can expand this scope to more emerging economies with severe air pollution and also extend the scope when more recent data becomes available. This study suggests that pollution standards in MINT countries should be monitored and enforced with transparency so as to mitigate its health implications and ensure the sustainability of economic growth. The study confirms the importance of keeping air pollution as low as possible because of its negative effect on health and economic output. The study accounts for the complexity of each MINT country instead of providing a general discussion on the relationship between air pollution, health expenditure and economic growth in MINT countries.Air pollution, health expenditure and economic growth in MINT countries: a trivariate causality test
Cleopatra Oluseye Ibukun, Wuraola Mahrufat Omisore
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper examines the long-run and dynamic causal relationship among air pollution, health expenditure and economic growth in Mexico, Indonesia, Nigeria and Turkey (MINT countries).

The bounds test approach to cointegration and causality test was employed on data covering 1995–2018.

The study shows evidence of a long-run relationship among the variables in MINT countries and the causality test confirms the existence of a bidirectional causal nexus between health expenditure and economic growth in the four countries. It also confirms that there is a bidirectional causal relationship between carbon dioxide (CO2) emission and economic growth, except in Nigeria where a unidirectional causal relationship was found running from CO2 emissions to economic growth. In addition, a bidirectional causal relationship was found between air pollution and health expenditure in Turkey, while no causal relationship was found among these variables in Nigeria.

This study is limited by available data and it only focuses on four emerging economies. To address this, future studies can expand this scope to more emerging economies with severe air pollution and also extend the scope when more recent data becomes available.

This study suggests that pollution standards in MINT countries should be monitored and enforced with transparency so as to mitigate its health implications and ensure the sustainability of economic growth.

The study confirms the importance of keeping air pollution as low as possible because of its negative effect on health and economic output.

The study accounts for the complexity of each MINT country instead of providing a general discussion on the relationship between air pollution, health expenditure and economic growth in MINT countries.

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Air pollution, health expenditure and economic growth in MINT countries: a trivariate causality test10.1108/JEAS-03-2022-0074Journal of Economic and Administrative Sciences2022-11-22© 2022 Emerald Publishing LimitedCleopatra Oluseye IbukunWuraola Mahrufat OmisoreJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-11-2210.1108/JEAS-03-2022-0074https://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2022-0074/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Investor attention and IPO returns: evidence from Indian marketshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2022-0075/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe regulatory design of Indian stock market provides us with the opportunity to disaggregate initial returns into two categories, i.e. voluntary premarket underpricing and post market mispricing. This study explores the impact of investor attention on the disaggregated short-run returns and long-run performance of initial public offerings (IPOs). The study employs regression techniques on the sample of IPOs listed from 2005 to 2019. It measures investor attention with the help of the Google Search Volume Index (GSVI) extracted from Google Trends. Along with GSVI, the subscription rate is used as a proxy to measure investor attention. The empirical results suggest a positive and significant relationship between initial returns and investor attention, thus validating the attention theory for Indian IPOs. Furthermore, when the returns are analysed for a more extended period using buy-and-hold abnormal returns (BHARs), it was found that price reversal holds in the long run. This study highlights the importance of information diffusion in the market. It emphasizes the behavioural tendency of the investors in the pre-market, which reduces the market efficiency. Hence, along with fundamentals, investor attention also plays an essential role in deciding the returns for an IPO. According to the best of the authors’ knowledge, this is one of the first studies that has attempted to explore the influence of investor attention and its interplay with underpricing and long-run performance for IPOs of Indian markets.Investor attention and IPO returns: evidence from Indian markets
Poonam Mulchandani, Rajan Pandey, Byomakesh Debata, Jayashree Renganathan
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The regulatory design of Indian stock market provides us with the opportunity to disaggregate initial returns into two categories, i.e. voluntary premarket underpricing and post market mispricing. This study explores the impact of investor attention on the disaggregated short-run returns and long-run performance of initial public offerings (IPOs).

The study employs regression techniques on the sample of IPOs listed from 2005 to 2019. It measures investor attention with the help of the Google Search Volume Index (GSVI) extracted from Google Trends. Along with GSVI, the subscription rate is used as a proxy to measure investor attention.

The empirical results suggest a positive and significant relationship between initial returns and investor attention, thus validating the attention theory for Indian IPOs. Furthermore, when the returns are analysed for a more extended period using buy-and-hold abnormal returns (BHARs), it was found that price reversal holds in the long run.

This study highlights the importance of information diffusion in the market. It emphasizes the behavioural tendency of the investors in the pre-market, which reduces the market efficiency. Hence, along with fundamentals, investor attention also plays an essential role in deciding the returns for an IPO.

According to the best of the authors’ knowledge, this is one of the first studies that has attempted to explore the influence of investor attention and its interplay with underpricing and long-run performance for IPOs of Indian markets.

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Investor attention and IPO returns: evidence from Indian markets10.1108/JEAS-03-2022-0075Journal of Economic and Administrative Sciences2023-05-01© 2023 Emerald Publishing LimitedPoonam MulchandaniRajan PandeyByomakesh DebataJayashree RenganathanJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-05-0110.1108/JEAS-03-2022-0075https://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2022-0075/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Revisiting the relationship between idiosyncratic risk and stock returns: a quantile regression analysis in the context of an emerging markethttps://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2023-0062/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe relationship between idiosyncratic risk and stock return has been debated for decades; this study reexamined this relationship in the Pakistani stock market by using the quantile regression approach along with the prospect theory. The present study is quantitative, and secondary data obtained from an emerging market are used. The quantile regression method allows the estimates of idiosyncratic risk to vary across the entire distribution of stock returns, i.e. the dependent variable. In this study, the standard deviation of regression residuals from the Fama and French three-factor model was used to measure idiosyncratic risk. Convenience sampling is employed; the sample consists of 82 firms listed on the KSE-100 index, with 820 annual observations for the ten years from 2011 to 2020. After computing results by using quantile regression, the study's findings, ordinary least squares (OLS) and least sum of absolute deviation (LAD) regression techniques are also compared. The quantile regression estimation results indicate that idiosyncratic risk is positively correlated with stock returns and that this relationship is contingent on whether prices are rising or falling. Consistent with the prospect theory, the finding suggests that stock investors tend to avoid risk when they anticipate a loss but are more willing to take risks when they anticipate a profit. The results of the OLS and LAD regressions indicate that the method typically employed in previous studies does not adequately describe the relationship between idiosyncratic risk and stock return at extreme points or across the entire distribution of stock return. These empirical findings shed new light on the relationship between idiosyncratic risk and stock return in Pakistani stock market literature.Revisiting the relationship between idiosyncratic risk and stock returns: a quantile regression analysis in the context of an emerging market
Saif Ullah, Mehwish Jabeen, Muhammad Farooq, Asad Afzal Hamayun
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The relationship between idiosyncratic risk and stock return has been debated for decades; this study reexamined this relationship in the Pakistani stock market by using the quantile regression approach along with the prospect theory.

The present study is quantitative, and secondary data obtained from an emerging market are used. The quantile regression method allows the estimates of idiosyncratic risk to vary across the entire distribution of stock returns, i.e. the dependent variable. In this study, the standard deviation of regression residuals from the Fama and French three-factor model was used to measure idiosyncratic risk. Convenience sampling is employed; the sample consists of 82 firms listed on the KSE-100 index, with 820 annual observations for the ten years from 2011 to 2020. After computing results by using quantile regression, the study's findings, ordinary least squares (OLS) and least sum of absolute deviation (LAD) regression techniques are also compared.

The quantile regression estimation results indicate that idiosyncratic risk is positively correlated with stock returns and that this relationship is contingent on whether prices are rising or falling. Consistent with the prospect theory, the finding suggests that stock investors tend to avoid risk when they anticipate a loss but are more willing to take risks when they anticipate a profit. The results of the OLS and LAD regressions indicate that the method typically employed in previous studies does not adequately describe the relationship between idiosyncratic risk and stock return at extreme points or across the entire distribution of stock return.

These empirical findings shed new light on the relationship between idiosyncratic risk and stock return in Pakistani stock market literature.

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Revisiting the relationship between idiosyncratic risk and stock returns: a quantile regression analysis in the context of an emerging market10.1108/JEAS-03-2023-0062Journal of Economic and Administrative Sciences2023-05-23© 2023 Emerald Publishing LimitedSaif UllahMehwish JabeenMuhammad FarooqAsad Afzal HamayunJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-05-2310.1108/JEAS-03-2023-0062https://www.emerald.com/insight/content/doi/10.1108/JEAS-03-2023-0062/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Stock market development and economic growth in sub-Saharan Africa (1990–2020): an ARDL approachhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2021-0075/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this paper is to investigate the short and long run causal relationship between stock market development and economic growth in sub-Saharan Africa within the period 1990 and 2020. Using panel data from 1990–2020 obtained from the World Bank development indicators, the study makes use of the autoregressive distributed lag model and the Granger causality and cointegration to analyze the long and short run causal relationship between stock market development and economic growth in sub-Saharan Africa. The findings unveiled that stock market capitalization had a positive and significant effect on economic growth in the long run and a negative insignificant effect in the short run within the period of 1990–2020 while stock market liquidity measured through total value of shares traded and turnover ratio had a negative and significant effect on economic growth in sub-Saharan Africa within the period of 1990–2020. The Granger causality test showed an inconclusive result between stock market development and economic growth; implying that the authors cannot say if it is stock market development that causes economic growth or it is economic growth that causes stock market development within the period of 1990–2020. The findings suggest that governments of sub-Saharan African countries should encourage stock market development by implementing favorable rules for companies listing on their stock market, promote stock market integration with world markets to diversify risk, increase public awareness on stock markets, increase investors' confidence level and finally, remove stock market impediments like high taxes, legal and regulatory barriers to its development. This study contributes to the existing literature by offering a whole new perspective on stock market development and economic growth since its conception in sub-Saharan Africa. Again, contrary to other papers, the study show how stock market development can contribute to the growth of sub-Saharan Africans’ economy.Stock market development and economic growth in sub-Saharan Africa (1990–2020): an ARDL approach
Kesuh Jude Thaddeus, Chi Aloysius Ngong, Ugwuanyi Jacinta Nnecka, Njimukala Moses Nubong, Godwin Imo Ibe, Onyejiaku Chinyere C, Josaphat Uchechukwu Joe Onwumere
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this paper is to investigate the short and long run causal relationship between stock market development and economic growth in sub-Saharan Africa within the period 1990 and 2020.

Using panel data from 1990–2020 obtained from the World Bank development indicators, the study makes use of the autoregressive distributed lag model and the Granger causality and cointegration to analyze the long and short run causal relationship between stock market development and economic growth in sub-Saharan Africa.

The findings unveiled that stock market capitalization had a positive and significant effect on economic growth in the long run and a negative insignificant effect in the short run within the period of 1990–2020 while stock market liquidity measured through total value of shares traded and turnover ratio had a negative and significant effect on economic growth in sub-Saharan Africa within the period of 1990–2020. The Granger causality test showed an inconclusive result between stock market development and economic growth; implying that the authors cannot say if it is stock market development that causes economic growth or it is economic growth that causes stock market development within the period of 1990–2020.

The findings suggest that governments of sub-Saharan African countries should encourage stock market development by implementing favorable rules for companies listing on their stock market, promote stock market integration with world markets to diversify risk, increase public awareness on stock markets, increase investors' confidence level and finally, remove stock market impediments like high taxes, legal and regulatory barriers to its development.

This study contributes to the existing literature by offering a whole new perspective on stock market development and economic growth since its conception in sub-Saharan Africa. Again, contrary to other papers, the study show how stock market development can contribute to the growth of sub-Saharan Africans’ economy.

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Stock market development and economic growth in sub-Saharan Africa (1990–2020): an ARDL approach10.1108/JEAS-04-2021-0075Journal of Economic and Administrative Sciences2022-02-04© 2021 Emerald Publishing LimitedKesuh Jude ThaddeusChi Aloysius NgongUgwuanyi Jacinta NneckaNjimukala Moses NubongGodwin Imo IbeOnyejiaku Chinyere CJosaphat Uchechukwu Joe OnwumereJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-02-0410.1108/JEAS-04-2021-0075https://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2021-0075/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2021 Emerald Publishing Limited
Foreign earnings repatriation: the effect of exchange rate volatility and the risk of expropriationhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2022-0092/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to investigate the impact of exchange rate volatility and the risk of expropriation on the decision to repatriate foreign earnings. The current study uses secondary data for foreign subsidiaries of US multinational corporations (MNCs) in 40 countries from 2004 to 2016. We use the dynamic panel difference generalised method of moments (GMM) to estimate the dynamic earnings repatriation model. The findings show that foreign subsidiaries of US MNCs in countries with volatile exchange rates tend to repatriate more earnings to the parent company. The findings also reveal that a greater risk of expropriation in the host country leads to the higher repatriation of foreign earnings to the parent company. The findings support the notion that MNCs use the earnings repatriation policy as a means of mitigating risks arising in the host country. Practical implications for modern managers include shedding light on how financial managers can use earnings repatriation policy to mitigate exchange rate risk and the risk of expropriation in the host country. The findings also contain policy implications at the host country level that how exchange rate volatility and risk of expropriation can reduce foreign investment in the host country. This study adds to the earnings repatriation literature by analysing the direct effect of exchange rate volatility on earnings repatriation decisions, as opposed to the impact of the exchange rate itself, as suggested by previous research. Hence, the findings broaden our understanding of the direct influence of exchange rate volatility on the decision to repatriate foreign earnings. The present study also examines the role of the risk of expropriation in determining earnings repatriation policy, which has received little attention in prior empirical studies.Foreign earnings repatriation: the effect of exchange rate volatility and the risk of expropriation
Muhammad Tahir, Haslindar Ibrahim, Badal Khan, Riaz Ahmed
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to investigate the impact of exchange rate volatility and the risk of expropriation on the decision to repatriate foreign earnings.

The current study uses secondary data for foreign subsidiaries of US multinational corporations (MNCs) in 40 countries from 2004 to 2016. We use the dynamic panel difference generalised method of moments (GMM) to estimate the dynamic earnings repatriation model.

The findings show that foreign subsidiaries of US MNCs in countries with volatile exchange rates tend to repatriate more earnings to the parent company. The findings also reveal that a greater risk of expropriation in the host country leads to the higher repatriation of foreign earnings to the parent company. The findings support the notion that MNCs use the earnings repatriation policy as a means of mitigating risks arising in the host country.

Practical implications for modern managers include shedding light on how financial managers can use earnings repatriation policy to mitigate exchange rate risk and the risk of expropriation in the host country. The findings also contain policy implications at the host country level that how exchange rate volatility and risk of expropriation can reduce foreign investment in the host country.

This study adds to the earnings repatriation literature by analysing the direct effect of exchange rate volatility on earnings repatriation decisions, as opposed to the impact of the exchange rate itself, as suggested by previous research. Hence, the findings broaden our understanding of the direct influence of exchange rate volatility on the decision to repatriate foreign earnings. The present study also examines the role of the risk of expropriation in determining earnings repatriation policy, which has received little attention in prior empirical studies.

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Foreign earnings repatriation: the effect of exchange rate volatility and the risk of expropriation10.1108/JEAS-04-2022-0092Journal of Economic and Administrative Sciences2022-11-15© 2022 Emerald Publishing LimitedMuhammad TahirHaslindar IbrahimBadal KhanRiaz AhmedJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-11-1510.1108/JEAS-04-2022-0092https://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2022-0092/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
On the dynamic relationship between transaction volume and returns: evidence from the cryptocurrency markethttps://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2022-0095/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestUsing vector autoregressive modelling (VAR) and Granger causality tests, this paper attempts to empirically investigate the dynamic relationship between return and volume of transactions of two main cryptocurrencies: Bitcoin and Ethereum. Based on a generalized autoregressive conditional heteroskedasticity (GARCH) model with a transaction volume parameter in the conditional volatility equation. The results provide empirical evidence of a positive contemporaneous relationship between the variation in transaction volume and the daily return of Bitcoin and Ethereum. The results also show that the conditional volatility of the returns is affected by the past volatility, which implies weak-form inefficiency for both Bitcoin and Ethereum markets. The results of the VAR model, testing Granger causality, indicate that the volume of transactions Granger-Causes Bitcoin and Ethereum returns. Furthermore, the findings show a Granger causal relation from returns to volume. This result suggests that cryptocurrency returns can predict transaction volumes and vice versa.On the dynamic relationship between transaction volume and returns: evidence from the cryptocurrency market
Yosra Ghabri, Marjène Rabah Gana
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Using vector autoregressive modelling (VAR) and Granger causality tests, this paper attempts to empirically investigate the dynamic relationship between return and volume of transactions of two main cryptocurrencies: Bitcoin and Ethereum.

Based on a generalized autoregressive conditional heteroskedasticity (GARCH) model with a transaction volume parameter in the conditional volatility equation.

The results provide empirical evidence of a positive contemporaneous relationship between the variation in transaction volume and the daily return of Bitcoin and Ethereum. The results also show that the conditional volatility of the returns is affected by the past volatility, which implies weak-form inefficiency for both Bitcoin and Ethereum markets. The results of the VAR model, testing Granger causality, indicate that the volume of transactions Granger-Causes Bitcoin and Ethereum returns. Furthermore, the findings show a Granger causal relation from returns to volume.

This result suggests that cryptocurrency returns can predict transaction volumes and vice versa.

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On the dynamic relationship between transaction volume and returns: evidence from the cryptocurrency market10.1108/JEAS-04-2022-0095Journal of Economic and Administrative Sciences2023-03-14© 2023 Emerald Publishing LimitedYosra GhabriMarjène Rabah GanaJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-03-1410.1108/JEAS-04-2022-0095https://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2022-0095/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Monetary policy, financial development and firm investment in Pakistan: an empirical analysishttps://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2022-0098/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to empirically examine the presence of a balance sheet channel (BSC) of monetary transmission mechanism (MTM) using firm-level panel data of Pakistan. It also explores the role of financial sector development (FSD) and firm age (FAge) in formulating the effect of monetary policy (MP) on the investment decisions of firms. The authors applied the two-step system generalized method of moments (SYS-GMM) estimator proposed by Blundell and Bond (1998) to carry out the empirical analysis. The final sample of the study includes 450 nonfinancial firms listed at the Pakistan Stock Exchange (PXS) during the period 1988–2021. The empirical framework of the study is based on the new classical model of investment. Different measures of MP are used to obtain the robust empirical evidence. To take into account the different dimensions of FSD, the index developed by Svirydzenka (2016) is utilized. To examine the moderating role of FSD and FAge, the interacted model is estimated, which enables the authors to estimate the MP effects at different percentiles of the moderating variables. The study’s findings confirm the existence of BSC by revealing that MP instruments have negative, significant effects on firms’ investment decisions. These findings suggest that during periods of tight MP, firms significantly cut their investment expenditures. The results of the interacted model show that both FSD and FAge play an important role in lessening the adverse effects of MP on firms’ investment policy. Specifically, the calculated total effects suggest that the negative effect of MP on investment is considerably weaker at the higher percentiles of FSD and FAge. The findings of the study have several important policy implications for different stakeholders. Specifically, the evidence suggests that the monetary authorities should keep in mind the adverse effects of MP while designing tight MP. The tight MP will have a negative effect on firm investment, which, in turn, will adversely affect firm growth and subsequently the growth rate and level of employment in the economy. Thus, during episodes of tight MP, the authorities should provide other facilities such as a friendly tax environment, better legal and regulatory framework, special credit arrangements, and provisions of loan guarantees. The findings of the moderating role suggest that the government may improve FSD to minify the adverse impacts of tight MP. Finally, the findings suggest that the government should design external financing-friendly policies to provide more opportunities to newly established firms to avoid tight MP’s effects. The findings of the moderating role suggest that the government may improve FSD to minify the adverse impacts of tight MP. Finally, the findings suggest that the government should design external financing-friendly policies to provide more opportunities to newly established firms to avoid tight MP’s effects. There are three significant contributions of the paper. Firstly, it provides empirical evidence on the existing of BSC of MTM using firm-level panel data spanning over 43 years for an emerging and small economy, namely Pakistan. Secondly, it examines the moderating role of FSD and FAge in formulating the effects of MP. Finally, it presents the total impact of MP at different percentiles of FSD and FAge, which definitely broadens the understanding of MTM through indirect channels.Monetary policy, financial development and firm investment in Pakistan: an empirical analysis
Farooq Ahmad, Abdul Rashid, Anwar Shah
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to empirically examine the presence of a balance sheet channel (BSC) of monetary transmission mechanism (MTM) using firm-level panel data of Pakistan. It also explores the role of financial sector development (FSD) and firm age (FAge) in formulating the effect of monetary policy (MP) on the investment decisions of firms.

The authors applied the two-step system generalized method of moments (SYS-GMM) estimator proposed by Blundell and Bond (1998) to carry out the empirical analysis. The final sample of the study includes 450 nonfinancial firms listed at the Pakistan Stock Exchange (PXS) during the period 1988–2021. The empirical framework of the study is based on the new classical model of investment. Different measures of MP are used to obtain the robust empirical evidence. To take into account the different dimensions of FSD, the index developed by Svirydzenka (2016) is utilized. To examine the moderating role of FSD and FAge, the interacted model is estimated, which enables the authors to estimate the MP effects at different percentiles of the moderating variables.

The study’s findings confirm the existence of BSC by revealing that MP instruments have negative, significant effects on firms’ investment decisions. These findings suggest that during periods of tight MP, firms significantly cut their investment expenditures. The results of the interacted model show that both FSD and FAge play an important role in lessening the adverse effects of MP on firms’ investment policy. Specifically, the calculated total effects suggest that the negative effect of MP on investment is considerably weaker at the higher percentiles of FSD and FAge.

The findings of the study have several important policy implications for different stakeholders. Specifically, the evidence suggests that the monetary authorities should keep in mind the adverse effects of MP while designing tight MP. The tight MP will have a negative effect on firm investment, which, in turn, will adversely affect firm growth and subsequently the growth rate and level of employment in the economy. Thus, during episodes of tight MP, the authorities should provide other facilities such as a friendly tax environment, better legal and regulatory framework, special credit arrangements, and provisions of loan guarantees. The findings of the moderating role suggest that the government may improve FSD to minify the adverse impacts of tight MP. Finally, the findings suggest that the government should design external financing-friendly policies to provide more opportunities to newly established firms to avoid tight MP’s effects.

The findings of the moderating role suggest that the government may improve FSD to minify the adverse impacts of tight MP. Finally, the findings suggest that the government should design external financing-friendly policies to provide more opportunities to newly established firms to avoid tight MP’s effects.

There are three significant contributions of the paper. Firstly, it provides empirical evidence on the existing of BSC of MTM using firm-level panel data spanning over 43 years for an emerging and small economy, namely Pakistan. Secondly, it examines the moderating role of FSD and FAge in formulating the effects of MP. Finally, it presents the total impact of MP at different percentiles of FSD and FAge, which definitely broadens the understanding of MTM through indirect channels.

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Monetary policy, financial development and firm investment in Pakistan: an empirical analysis10.1108/JEAS-04-2022-0098Journal of Economic and Administrative Sciences2022-12-16© 2022 Emerald Publishing LimitedFarooq AhmadAbdul RashidAnwar ShahJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-12-1610.1108/JEAS-04-2022-0098https://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2022-0098/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Dynamic common correlation effects of financial development, foreign direct investment, market size and trade openness on domestic investment: an income-level prognosishttps://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2022-0099/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe study examined the impact of financial development, foreign direct investment, market size and trade openness on domestic investment for 119 countries divided into four panels that are low-income countries (LIC), lower middle-income countries (LMIC), upper middle-income countries (UMIC) and high-income countries (HIC) between 1995 and 2019. The present study bases its empirical procedure on the bases of the data mix. To this end, based on the presence of cross-sectional dependence, covariate-augmented Dickey–Fuller unit root and Westerlund cointegration second-generation tests were employed to validate the stationarity and cointegration of the variables, respectively. The novel Dynamic Common Correlation Effects estimator was employed to estimate the heterogeneous parameters while the Dumitrescu and Hurlin test was used to test for causality direction of the highlighted variables. The empirical results show that market size and trade openness had a positive and statistically significant effect on domestic investment for all the income groups. Results also show that financial development had a positive and statically significant effect on domestic investment only for LMIC and HIC economies, while a positive and statistically insignificant effect was obtained for LIC, UMIC and the global panel. The causality results revealed a bidirectional relationship between domestic investment and the exogenous variables – financial development, foreign direct investment, market size and trade openness. It is therefore, recommended that LIC and LMIC need to consider harmonising the financial system to lower credit limitations and adopt business-friendly policies. HIC and UMIC should seek more outward FDI policies and harmonise their trade policy, to reap more benefits from FDI and international trade. On novelty, previous studies have been criticised for the effect on technical innovation of bank financing and institutional quality. This research tackles the deficiency using systematic institutional quality indicators and by taking other variables into account.Dynamic common correlation effects of financial development, foreign direct investment, market size and trade openness on domestic investment: an income-level prognosis
Gildas Dohba Dinga, Dobdinga Cletus Fonchamnyo, Nkoa Bruno Emmanuel Ongo, Festus Victor Bekun
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The study examined the impact of financial development, foreign direct investment, market size and trade openness on domestic investment for 119 countries divided into four panels that are low-income countries (LIC), lower middle-income countries (LMIC), upper middle-income countries (UMIC) and high-income countries (HIC) between 1995 and 2019.

The present study bases its empirical procedure on the bases of the data mix. To this end, based on the presence of cross-sectional dependence, covariate-augmented Dickey–Fuller unit root and Westerlund cointegration second-generation tests were employed to validate the stationarity and cointegration of the variables, respectively. The novel Dynamic Common Correlation Effects estimator was employed to estimate the heterogeneous parameters while the Dumitrescu and Hurlin test was used to test for causality direction of the highlighted variables.

The empirical results show that market size and trade openness had a positive and statistically significant effect on domestic investment for all the income groups. Results also show that financial development had a positive and statically significant effect on domestic investment only for LMIC and HIC economies, while a positive and statistically insignificant effect was obtained for LIC, UMIC and the global panel. The causality results revealed a bidirectional relationship between domestic investment and the exogenous variables – financial development, foreign direct investment, market size and trade openness.

It is therefore, recommended that LIC and LMIC need to consider harmonising the financial system to lower credit limitations and adopt business-friendly policies. HIC and UMIC should seek more outward FDI policies and harmonise their trade policy, to reap more benefits from FDI and international trade.

On novelty, previous studies have been criticised for the effect on technical innovation of bank financing and institutional quality. This research tackles the deficiency using systematic institutional quality indicators and by taking other variables into account.

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Dynamic common correlation effects of financial development, foreign direct investment, market size and trade openness on domestic investment: an income-level prognosis10.1108/JEAS-04-2022-0099Journal of Economic and Administrative Sciences2023-05-15© 2023 Emerald Publishing LimitedGildas Dohba DingaDobdinga Cletus FonchamnyoNkoa Bruno Emmanuel OngoFestus Victor BekunJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-05-1510.1108/JEAS-04-2022-0099https://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2022-0099/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Threshold effects of public debt on economic growth in South Africa: an application of a regression kink with an unknown thresholdhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2022-0106/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestSouth African public debt has recently increased significantly and has reached worrying levels. This study aims to examine the debt threshold effects on economic growth in South Africa, with an objective of suggesting a debt threshold as South African policymakers will seek to reduce debt to a sustainable level in the coming years. The study applies a recent novel methodology advanced by Hansen (2017) that allows modelling a regression kink with an unknown threshold. The findings of this study indicate a robust debt threshold of 37% of gross domestic product (GDP). Below this threshold, debt is growth-enhancing, but above 37% of GDP, debt is harmful to growth in South Africa. Among other things, to reduce the debt-to-GDP ratio, South Africa will need a fiscal consolidation policy by undertaking reforms to state-owned companies to reduce their reliance on public funds, as well as putting in place economic measures to boost long-term growth. The country should also improve tax collection in order to realize additional tax revenue through enhancing compliance and other revenue collection measures. Most of the existing studies on debt threshold effects in Africa are panel data studies, which assume parameter homogeneity, by determining a single debt threshold value applicable to all countries. This can be misleading as the debt-growth nexus is country-specific, being conditional on several factors, such as institutional quality. The present study applies a recent novel methodology, which allows to model a regression kink with an unknown threshold, for the case of South Africa. The methodology endogenously determines the debt threshold while also allowing a country-specific analysis.Threshold effects of public debt on economic growth in South Africa: an application of a regression kink with an unknown threshold
Arcade Ndoricimpa
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

South African public debt has recently increased significantly and has reached worrying levels. This study aims to examine the debt threshold effects on economic growth in South Africa, with an objective of suggesting a debt threshold as South African policymakers will seek to reduce debt to a sustainable level in the coming years.

The study applies a recent novel methodology advanced by Hansen (2017) that allows modelling a regression kink with an unknown threshold.

The findings of this study indicate a robust debt threshold of 37% of gross domestic product (GDP). Below this threshold, debt is growth-enhancing, but above 37% of GDP, debt is harmful to growth in South Africa.

Among other things, to reduce the debt-to-GDP ratio, South Africa will need a fiscal consolidation policy by undertaking reforms to state-owned companies to reduce their reliance on public funds, as well as putting in place economic measures to boost long-term growth. The country should also improve tax collection in order to realize additional tax revenue through enhancing compliance and other revenue collection measures.

Most of the existing studies on debt threshold effects in Africa are panel data studies, which assume parameter homogeneity, by determining a single debt threshold value applicable to all countries. This can be misleading as the debt-growth nexus is country-specific, being conditional on several factors, such as institutional quality. The present study applies a recent novel methodology, which allows to model a regression kink with an unknown threshold, for the case of South Africa. The methodology endogenously determines the debt threshold while also allowing a country-specific analysis.

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Threshold effects of public debt on economic growth in South Africa: an application of a regression kink with an unknown threshold10.1108/JEAS-04-2022-0106Journal of Economic and Administrative Sciences2022-10-07© 2022 Emerald Publishing LimitedArcade NdoricimpaJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-10-0710.1108/JEAS-04-2022-0106https://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2022-0106/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
The role of corporate governance towards insider trading profitabilityhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2022-0110/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestAn effective corporate governance system helps to smoothly run business operations and manage financial matters. To ensure that management behavior is ethical, and their decisions are in the best interest of shareholders, corporate governance plays a vital role. This study aims to examine the impact of corporate governance on the insider trading profitability of listed banks in Pakistan, Bangladesh and India. The authors take data from the financial statements of 70 listed banks and stock exchanges of the respective countries. The period of the data for our study is from 2010 to 2020. The authors use board independence, the board size, institutional ownership and managerial ownership as measures of corporate governance characteristics. While inside trading profitability is measured with abnormal returns. The authors apply the fixed effect panel regression for hypothesis testing and the two-step dynamic panel system-generalized method of moments (GMM) regression technique for checking the robustness of the findings. The authors found that corporate governance has a significant impact on insider trading profitability in Pakistan, Bangladesh and India. Board independence and institutional ownership are negatively related while board size and managerial ownership are positively associated with insider trading profitability. To the best of our knowledge, this study is the first one to explore the role of corporate governance in limiting insider trading on South Asian banks. It recommends that corporations should follow the code of corporate governance for the protection of shareholders' and other investors' profits.The role of corporate governance towards insider trading profitability
Suha Mahmoud Alawi
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

An effective corporate governance system helps to smoothly run business operations and manage financial matters. To ensure that management behavior is ethical, and their decisions are in the best interest of shareholders, corporate governance plays a vital role. This study aims to examine the impact of corporate governance on the insider trading profitability of listed banks in Pakistan, Bangladesh and India.

The authors take data from the financial statements of 70 listed banks and stock exchanges of the respective countries. The period of the data for our study is from 2010 to 2020. The authors use board independence, the board size, institutional ownership and managerial ownership as measures of corporate governance characteristics. While inside trading profitability is measured with abnormal returns. The authors apply the fixed effect panel regression for hypothesis testing and the two-step dynamic panel system-generalized method of moments (GMM) regression technique for checking the robustness of the findings.

The authors found that corporate governance has a significant impact on insider trading profitability in Pakistan, Bangladesh and India. Board independence and institutional ownership are negatively related while board size and managerial ownership are positively associated with insider trading profitability.

To the best of our knowledge, this study is the first one to explore the role of corporate governance in limiting insider trading on South Asian banks. It recommends that corporations should follow the code of corporate governance for the protection of shareholders' and other investors' profits.

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The role of corporate governance towards insider trading profitability10.1108/JEAS-04-2022-0110Journal of Economic and Administrative Sciences2022-09-20© 2022 Emerald Publishing LimitedSuha Mahmoud AlawiJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-09-2010.1108/JEAS-04-2022-0110https://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2022-0110/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Financial leverage, percentage of female borrowers and financial sustainability of microfinance institutionshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2023-0091/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper examines the influence of financial leverage on the financial sustainability of microfinance institutions (MFIs) and the moderating role of the percentage of female borrowers (PFB). The study uses a global sample of 646 MFIs drawn from the World Bank Mix Market and panel data for 2010–2018. The study employs ordinary least squares (OLS) and the one-step system generalized method of moments (SGMM) as regression estimation methods. The findings of this study reveal that financial leverage and the PFB have a negative and significant effect on financial sustainability. The findings further show that the interaction between financial leverage and the PFB positively affects the financial sustainability of MFIs. The findings inform MFIs' managers on the adverse effect of financial leverage and the PFB in their quest for financial sustainability. The findings also demonstrate that MFIs can leverage female borrowers to reverse the adverse effect of financial leverage on financial sustainability of MFIs. Previous studies examined the direct effect of financial leverage and reported incongruent results. Because female borrowers are at the epicenter of MFI lending, this study fills the gap in the literature by examining whether the proportion of female borrowers moderates the relationship between financial leverage and MFIs' financial sustainability using a global dataset.Financial leverage, percentage of female borrowers and financial sustainability of microfinance institutions
Peter Nderitu Githaiga, Stephen Kosgei Bitok
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper examines the influence of financial leverage on the financial sustainability of microfinance institutions (MFIs) and the moderating role of the percentage of female borrowers (PFB).

The study uses a global sample of 646 MFIs drawn from the World Bank Mix Market and panel data for 2010–2018. The study employs ordinary least squares (OLS) and the one-step system generalized method of moments (SGMM) as regression estimation methods.

The findings of this study reveal that financial leverage and the PFB have a negative and significant effect on financial sustainability. The findings further show that the interaction between financial leverage and the PFB positively affects the financial sustainability of MFIs.

The findings inform MFIs' managers on the adverse effect of financial leverage and the PFB in their quest for financial sustainability. The findings also demonstrate that MFIs can leverage female borrowers to reverse the adverse effect of financial leverage on financial sustainability of MFIs.

Previous studies examined the direct effect of financial leverage and reported incongruent results. Because female borrowers are at the epicenter of MFI lending, this study fills the gap in the literature by examining whether the proportion of female borrowers moderates the relationship between financial leverage and MFIs' financial sustainability using a global dataset.

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Financial leverage, percentage of female borrowers and financial sustainability of microfinance institutions10.1108/JEAS-04-2023-0091Journal of Economic and Administrative Sciences2023-12-22© 2023 Emerald Publishing LimitedPeter Nderitu GithaigaStephen Kosgei BitokJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-12-2210.1108/JEAS-04-2023-0091https://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2023-0091/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
CSR employer branding, organisational identification, person–organisation fit and employee retention: a dual mediation modelhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2023-0093/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestCorporate social responsibility (CSR) is gaining recognition and value among researchers, academicians and business professionals. Drawing on theories of social identity and person–organisation fit, the present research propounds a model that investigates the role of CSR branding in influencing employee retention. The paper is based on primary survey data from 348 employees working in organisations in the Indian industrial hubs. The study uses the regression and PROCESS macro model to analyse relationship among study variables. The study indicated how CSR initiatives could help organisations handle the threat of high turnover storm all over the world, thereby retaining the employees with a high set of skills. Moreover, the paper connotes that employee retention is influenced directly by CSR branding as well as indirectly under the presence of organisational identification and person–organisation fit (mediators). Results suggest the role of a positive identity and a mutual fit as significant predictors of employee retention. The implications for future research on CSR, employees' stay intentions, employees' identification and value congruence are further discussed in light of the findings. The novelty of this research insists on shedding light on the indirect mechanisms linking CSR to employee retention that has been overlooked so far, particularly in the Indian setting; studies on an integrated model of organisational identification and person–organisation fit are limited.CSR employer branding, organisational identification, person–organisation fit and employee retention: a dual mediation model
Shubhangi Bharadwaj
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Corporate social responsibility (CSR) is gaining recognition and value among researchers, academicians and business professionals. Drawing on theories of social identity and person–organisation fit, the present research propounds a model that investigates the role of CSR branding in influencing employee retention.

The paper is based on primary survey data from 348 employees working in organisations in the Indian industrial hubs. The study uses the regression and PROCESS macro model to analyse relationship among study variables.

The study indicated how CSR initiatives could help organisations handle the threat of high turnover storm all over the world, thereby retaining the employees with a high set of skills. Moreover, the paper connotes that employee retention is influenced directly by CSR branding as well as indirectly under the presence of organisational identification and person–organisation fit (mediators).

Results suggest the role of a positive identity and a mutual fit as significant predictors of employee retention. The implications for future research on CSR, employees' stay intentions, employees' identification and value congruence are further discussed in light of the findings.

The novelty of this research insists on shedding light on the indirect mechanisms linking CSR to employee retention that has been overlooked so far, particularly in the Indian setting; studies on an integrated model of organisational identification and person–organisation fit are limited.

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CSR employer branding, organisational identification, person–organisation fit and employee retention: a dual mediation model10.1108/JEAS-04-2023-0093Journal of Economic and Administrative Sciences2023-09-19© 2023 Emerald Publishing LimitedShubhangi BharadwajJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-09-1910.1108/JEAS-04-2023-0093https://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2023-0093/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Understanding the impact of ethical leadership on followers' voice: mediation of moral identity and moderation of proactive personalityhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2023-0098/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestDrawing upon social learning theory (SLT), the study examines the consequences of ethical leadership on followers' voice behavior facets (promotive and prohibitive). The study tests hypotheses about the processing mechanism (moral identity) and the boundary condition (proactive personality) to understand these relationships. The study collected time-lagged survey data through an online structured questionnaire from 182 respondents. Confirmatory factor analysis (CFA) was used to ensure the validity and reliability of the data. Moreover, structural equation modeling was run to test the hypotheses using AMOS. Ethical leadership positively affects followers' promotive and prohibitive voice behavior via the psychological mechanism of moral identity. Proactive personality moderates the moral identity – promotive and moral identity – prohibitive voice relationships, such that these relations are stronger when the individuals are high on proactive personality. Robust evidence of a genuine cause-and-effect relationship may not be yielded owing to cross-sectional and self-reported data at the follower level of analysis. Future researchers can use dyadic, longitudinal and experimental designs to overcome these limitations. Organizations targeting to increase voice behavior can benefit from maintaining ethical leaders and proactive followers at the workplace. The study significantly contributes to the ethical leadership and voice behavior literature. Ethical leadership enhances followers' promotive/prohibitive voice behaviors through their moral identity enhancement. The paper also confirmed that a proactive personality is a critical boundary condition in these relationships. Empirical evidence from the Eastern context has been added, and research directions have also been provided.Understanding the impact of ethical leadership on followers' voice: mediation of moral identity and moderation of proactive personality
Kanwal Zahoor, Faisal Qadeer, Muhammad Sheeraz, Imran Hameed
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Drawing upon social learning theory (SLT), the study examines the consequences of ethical leadership on followers' voice behavior facets (promotive and prohibitive). The study tests hypotheses about the processing mechanism (moral identity) and the boundary condition (proactive personality) to understand these relationships.

The study collected time-lagged survey data through an online structured questionnaire from 182 respondents. Confirmatory factor analysis (CFA) was used to ensure the validity and reliability of the data. Moreover, structural equation modeling was run to test the hypotheses using AMOS.

Ethical leadership positively affects followers' promotive and prohibitive voice behavior via the psychological mechanism of moral identity. Proactive personality moderates the moral identity – promotive and moral identity – prohibitive voice relationships, such that these relations are stronger when the individuals are high on proactive personality.

Robust evidence of a genuine cause-and-effect relationship may not be yielded owing to cross-sectional and self-reported data at the follower level of analysis. Future researchers can use dyadic, longitudinal and experimental designs to overcome these limitations. Organizations targeting to increase voice behavior can benefit from maintaining ethical leaders and proactive followers at the workplace.

The study significantly contributes to the ethical leadership and voice behavior literature. Ethical leadership enhances followers' promotive/prohibitive voice behaviors through their moral identity enhancement. The paper also confirmed that a proactive personality is a critical boundary condition in these relationships. Empirical evidence from the Eastern context has been added, and research directions have also been provided.

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Understanding the impact of ethical leadership on followers' voice: mediation of moral identity and moderation of proactive personality10.1108/JEAS-04-2023-0098Journal of Economic and Administrative Sciences2024-01-05© 2023 Emerald Publishing LimitedKanwal ZahoorFaisal QadeerMuhammad SheerazImran HameedJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2024-01-0510.1108/JEAS-04-2023-0098https://www.emerald.com/insight/content/doi/10.1108/JEAS-04-2023-0098/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Where does internal governance mechanism matter in emerging markets? Insight from financial and non-financial firmshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2021-0087/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this paper is to explore the relationship between board attributes and firm value to identify board attributes that are “pleasant” to have from what is required to have in financial and non-financial firms. The paper uses five measures of firm value to estimate the relationship between internal governance mechanism for financial and non-financial firms using system generalized methods of moments. The paper finds that board independence and board size is a “must” have and value-enhancing board attributes for financial firms. On the contrary, board independence may be considered as a “pleasant” board attribute for non-financial firms. Further, the paper finds that duality is not value-enhancing board attribute for both financial and non-financial firms. The findings imply that differences in requirements for strategic or resource and monitoring functions in financial and non-financial firms are responsible for the differences in board attributes that are value-relevant for these firms. The findings suggest that the value relevance of board attributes differs in financial and non-financial firms.Where does internal governance mechanism matter in emerging markets? Insight from financial and non-financial firms
Ebenezer Agyemang Badu, Ebenezer Nyarko Assabil
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this paper is to explore the relationship between board attributes and firm value to identify board attributes that are “pleasant” to have from what is required to have in financial and non-financial firms.

The paper uses five measures of firm value to estimate the relationship between internal governance mechanism for financial and non-financial firms using system generalized methods of moments.

The paper finds that board independence and board size is a “must” have and value-enhancing board attributes for financial firms. On the contrary, board independence may be considered as a “pleasant” board attribute for non-financial firms. Further, the paper finds that duality is not value-enhancing board attribute for both financial and non-financial firms.

The findings imply that differences in requirements for strategic or resource and monitoring functions in financial and non-financial firms are responsible for the differences in board attributes that are value-relevant for these firms.

The findings suggest that the value relevance of board attributes differs in financial and non-financial firms.

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Where does internal governance mechanism matter in emerging markets? Insight from financial and non-financial firms10.1108/JEAS-05-2021-0087Journal of Economic and Administrative Sciences2022-05-02© 2022 Emerald Publishing LimitedEbenezer Agyemang BaduEbenezer Nyarko AssabilJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-05-0210.1108/JEAS-05-2021-0087https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2021-0087/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
The dynamic relationship between firms’ cash reserves and financial leverage: evidence from MENA emerging marketshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2022-0121/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper investigates the impact of financial leverage on corporate cash holdings in the Middle East and North African (MENA) emerging markets. The author applies the dynamic modeling approach to data from nonfinancial firms listed in 10 MENA countries between 2010 and 2019. The empirical model avoids the shortcomings of the prior literature by including indicators of the dynamics of the financial leverage to account for its persistence in the corporate cash holdings reserves. This research reports a significant negative relationship between corporate cash holdings and financial leverage. The results support the pecking order model, suggesting that leverage can be regarded as a substitute for holding a larger amount of cash and marketable securities. The author argues that the negative relationship between financial leverage and corporate cash holdings reinforces the precautionary motive to have internal cash reserves rather than external debt to support capital and investment activities by firms in the MENA emerging markets. The results of this research provide important insights into cash and capital structure management for nonfinancial listed firms in the MENA emerging markets. Specifically, the paper will help managers to understand the dynamic financial leverage determinants of holding cash in corporations in the MENA emerging markets and encourage policymakers to financially determine the corporate capital structure and cash holdings based on cost and benefits. Managing the firm's capital structure and cash holdings based on trade-offs between costs and benefits would enhance operating cash flow which may play an important role in creating value for shareholders. Prior studies have commonly been concerned with the determinants of corporate cash holdings, but few have investigated the dynamic financial leverage determinants of corporate cash holdings. This paper draws attention to this issue within the context of MENA emerging markets. To the authors' best knowledge, this is the first study that explores the relationship between cash holdings and financial leverage in MENA emerging markets.The dynamic relationship between firms’ cash reserves and financial leverage: evidence from MENA emerging markets
Hamza Almustafa, Ismail Kalash
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper investigates the impact of financial leverage on corporate cash holdings in the Middle East and North African (MENA) emerging markets.

The author applies the dynamic modeling approach to data from nonfinancial firms listed in 10 MENA countries between 2010 and 2019. The empirical model avoids the shortcomings of the prior literature by including indicators of the dynamics of the financial leverage to account for its persistence in the corporate cash holdings reserves.

This research reports a significant negative relationship between corporate cash holdings and financial leverage. The results support the pecking order model, suggesting that leverage can be regarded as a substitute for holding a larger amount of cash and marketable securities. The author argues that the negative relationship between financial leverage and corporate cash holdings reinforces the precautionary motive to have internal cash reserves rather than external debt to support capital and investment activities by firms in the MENA emerging markets.

The results of this research provide important insights into cash and capital structure management for nonfinancial listed firms in the MENA emerging markets. Specifically, the paper will help managers to understand the dynamic financial leverage determinants of holding cash in corporations in the MENA emerging markets and encourage policymakers to financially determine the corporate capital structure and cash holdings based on cost and benefits. Managing the firm's capital structure and cash holdings based on trade-offs between costs and benefits would enhance operating cash flow which may play an important role in creating value for shareholders.

Prior studies have commonly been concerned with the determinants of corporate cash holdings, but few have investigated the dynamic financial leverage determinants of corporate cash holdings. This paper draws attention to this issue within the context of MENA emerging markets. To the authors' best knowledge, this is the first study that explores the relationship between cash holdings and financial leverage in MENA emerging markets.

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The dynamic relationship between firms’ cash reserves and financial leverage: evidence from MENA emerging markets10.1108/JEAS-05-2022-0121Journal of Economic and Administrative Sciences2022-08-16© 2022 Emerald Publishing LimitedHamza AlmustafaIsmail KalashJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-08-1610.1108/JEAS-05-2022-0121https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2022-0121/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
An empirical analysis of impact of banking sector on Indian stock markethttps://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2022-0125/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study attempts to examine the relationship between the banking sector and stock market development in India. To analyze the relationship between banks and stock market development, the ratio of stock market capitalization to GDP is proxied by stock market development. The determinants of the stock market development are used for analysis namely domestic credit to the private sector as a ratio of GDP is used as a proxy for the development of banks, saving rate, per capita real GDP, and inflation. The autoregressive distributed lag (ARDL)-Bounds testing approach is used for the analysis. The paper also used the unrestricted error correction model and CUSUM and CUSUM square test to check the stability of the model. The ARDL bounds test found that there is a long-run relationship between stock market development and bank-centered financial development. The results also revealed that the stock market is positively influenced by the development of banks, savings, and per capita real GDP in the short-run as well as long-run. This paper suggests that improvement of banking sector plays an important role to increase liquidity of the capital market development in India. This paper also suggests that the economic growth and savings rate have positive impact to induce the capital market growth in both short run and long run. The study has investigated the empirical relationship between the banking sector and the stock market development in a different methodological approach by using an ARDL model which is appropriate for a small sample size. There are few studies related to bank-centered financial development and stock market development in the context of India.An empirical analysis of impact of banking sector on Indian stock market
Kailash Pradhan, Vinay Kumar
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study attempts to examine the relationship between the banking sector and stock market development in India.

To analyze the relationship between banks and stock market development, the ratio of stock market capitalization to GDP is proxied by stock market development. The determinants of the stock market development are used for analysis namely domestic credit to the private sector as a ratio of GDP is used as a proxy for the development of banks, saving rate, per capita real GDP, and inflation. The autoregressive distributed lag (ARDL)-Bounds testing approach is used for the analysis. The paper also used the unrestricted error correction model and CUSUM and CUSUM square test to check the stability of the model.

The ARDL bounds test found that there is a long-run relationship between stock market development and bank-centered financial development. The results also revealed that the stock market is positively influenced by the development of banks, savings, and per capita real GDP in the short-run as well as long-run.

This paper suggests that improvement of banking sector plays an important role to increase liquidity of the capital market development in India. This paper also suggests that the economic growth and savings rate have positive impact to induce the capital market growth in both short run and long run.

The study has investigated the empirical relationship between the banking sector and the stock market development in a different methodological approach by using an ARDL model which is appropriate for a small sample size. There are few studies related to bank-centered financial development and stock market development in the context of India.

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An empirical analysis of impact of banking sector on Indian stock market10.1108/JEAS-05-2022-0125Journal of Economic and Administrative Sciences2022-08-08© 2022 Emerald Publishing LimitedKailash PradhanVinay KumarJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-08-0810.1108/JEAS-05-2022-0125https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2022-0125/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Workers' remittances and economic growth: new evidence from an ARDL bounds cointegration approach for Sri Lankahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2022-0132/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe objective of this study is to examine the long-run relationship between workers' remittances and economic growth in Sri Lanka using time series data spanning 1975–2021. This study employed both exploratory data analysis (EDA) and inferential data analysis (IDA) tools. EDA includes the scatter plots, confidence ellipse with Kernel fit, whereas IDA covers unit root test, the autoregressive distributed lag (ARDL) bounds technique, the Granger's causality test, and impulse response function (IRF) analysis. EDA confirms that workers' remittances have a positive relationship with per-capita gross domestic product (GDP). All variables used in this study are I(1). This study is exhibited that workers' remittances have a positive long-run relationship with per-capita GDP. The estimated coefficient of the error correction term shows that the dependent variable moves towards the long-run equilibrium path. Workers' remittances have a short-run and long-run causal relationship with per-capita GDP. The IRF analysis indicates that a one standard deviation shock to workers' remittances has initially an immediate significant positive impact on economic growth. This study provides insights into workers' remittances in economic growth in Sri Lanka. Further, the findings of this study also provide evidence that workers' remittances increase economic growth. Using ARDL bounds test, Granger's Causality test and IRF analysis for examining the relationship between workers' remittances and economic growth are the originality of this study.Workers' remittances and economic growth: new evidence from an ARDL bounds cointegration approach for Sri Lanka
Ahamed Lebbe Mohamed Aslam, Mohamed Cassim Alibuhtto
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The objective of this study is to examine the long-run relationship between workers' remittances and economic growth in Sri Lanka using time series data spanning 1975–2021.

This study employed both exploratory data analysis (EDA) and inferential data analysis (IDA) tools. EDA includes the scatter plots, confidence ellipse with Kernel fit, whereas IDA covers unit root test, the autoregressive distributed lag (ARDL) bounds technique, the Granger's causality test, and impulse response function (IRF) analysis.

EDA confirms that workers' remittances have a positive relationship with per-capita gross domestic product (GDP). All variables used in this study are I(1). This study is exhibited that workers' remittances have a positive long-run relationship with per-capita GDP. The estimated coefficient of the error correction term shows that the dependent variable moves towards the long-run equilibrium path. Workers' remittances have a short-run and long-run causal relationship with per-capita GDP. The IRF analysis indicates that a one standard deviation shock to workers' remittances has initially an immediate significant positive impact on economic growth.

This study provides insights into workers' remittances in economic growth in Sri Lanka. Further, the findings of this study also provide evidence that workers' remittances increase economic growth.

Using ARDL bounds test, Granger's Causality test and IRF analysis for examining the relationship between workers' remittances and economic growth are the originality of this study.

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Workers' remittances and economic growth: new evidence from an ARDL bounds cointegration approach for Sri Lanka10.1108/JEAS-05-2022-0132Journal of Economic and Administrative Sciences2023-03-01© 2023 Emerald Publishing LimitedAhamed Lebbe Mohamed AslamMohamed Cassim AlibuhttoJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-03-0110.1108/JEAS-05-2022-0132https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2022-0132/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
The moderating role of terrorism on the insurance–growth nexus: empirical evidence from the 14 MENA countrieshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2022-0137/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper empirically examines the impact of terrorism on the insurance–growth relationship in the context of Middle East and North Africa (MENA) region, thereby attempting to address the unexplored area in the relevant literature. The study considered MENA as it has been one of the terribly affected zones in the world during the study period. Panel data for the period (2002–2017) are sourced from reliable sources for 14 member economies of the MENA region. After employing the suitable econometric procedures on the panel data, the results indicate that terrorism appears to have detrimental impact on the observed positive relationship between insurance and economic growth. In addition, trade openness seems to be the main driving force behind economic growth of the selected MENA countries. Surprisingly, the study suggests a negative association between the growth of physical capital and economic growth. Human capital has played a positive but insignificant role in improving economic growth as it is insignificant in majority of the specifications. The growth of labor force has although positively but insignificantly influenced economic growth. Finally, the results demonstrate that government expenditures and high inflation are harmful for growth. The study investigated the impact of terrorism on the insurance–growth relationship for the first time, and hence policymakers of the MENA region are expected to be benefited enormously from the findings of the study.The moderating role of terrorism on the insurance–growth nexus: empirical evidence from the 14 MENA countries
Md Badrul Alam, Muhammad Tahir, Norulazidah Omar Ali, Muhammad Naveed Jan, Aziz Ullah Sayal
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper empirically examines the impact of terrorism on the insurance–growth relationship in the context of Middle East and North Africa (MENA) region, thereby attempting to address the unexplored area in the relevant literature.

The study considered MENA as it has been one of the terribly affected zones in the world during the study period. Panel data for the period (2002–2017) are sourced from reliable sources for 14 member economies of the MENA region.

After employing the suitable econometric procedures on the panel data, the results indicate that terrorism appears to have detrimental impact on the observed positive relationship between insurance and economic growth. In addition, trade openness seems to be the main driving force behind economic growth of the selected MENA countries. Surprisingly, the study suggests a negative association between the growth of physical capital and economic growth. Human capital has played a positive but insignificant role in improving economic growth as it is insignificant in majority of the specifications. The growth of labor force has although positively but insignificantly influenced economic growth. Finally, the results demonstrate that government expenditures and high inflation are harmful for growth.

The study investigated the impact of terrorism on the insurance–growth relationship for the first time, and hence policymakers of the MENA region are expected to be benefited enormously from the findings of the study.

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The moderating role of terrorism on the insurance–growth nexus: empirical evidence from the 14 MENA countries10.1108/JEAS-05-2022-0137Journal of Economic and Administrative Sciences2023-01-16© 2022 Emerald Publishing LimitedMd Badrul AlamMuhammad TahirNorulazidah Omar AliMuhammad Naveed JanAziz Ullah SayalJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-01-1610.1108/JEAS-05-2022-0137https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2022-0137/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Demystifying the effect of social media usage and eWOM on purchase intention: the mediating role of brand equityhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0102/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this study is to examine an integrated model, in which brand equity (BE) mediates the effects of social media usage (SMU) and electronic word of mouth (eWOM) on purchase intentions among Indian consumers of branded apparel. An online questionnaire was used to collect data from 317 Indian customers of branded apparel, and the data were analyzed using the partial least squares structural equation modeling (PLS-SEM) with the help of SmartPLS version 4. First, the results indicated that SMU, eWOM and BE significantly impact consumers purchase intention; at the same time, BE is influenced by SMU and eWOM. Second, results confirmed that BE partially mediates the effects of SMU and eWOM on the purchase intentions of consumers of apparel brands. The study's dataset is limited in its generalizability as it is based on specific responses from Indian consumers of branded apparel via an online survey. The results of this study would help marketers and advertisers create customized advertising campaigns for the people who are most likely to buy their products. Marketers can also use social media to promote the uniqueness or point of difference (PoD) of their apparel brands. To the best of the authors' knowledge, no study has been conducted on apparel brands in the Indian context that has tested an integrative model, in which BE mediates the effects of SMU and eWOM on the purchase intentions of customers of apparel brands.Demystifying the effect of social media usage and eWOM on purchase intention: the mediating role of brand equity
Zebran Khan, Ariba Khan, Mohammed Kamalun Nabi, Zeba Khanam
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this study is to examine an integrated model, in which brand equity (BE) mediates the effects of social media usage (SMU) and electronic word of mouth (eWOM) on purchase intentions among Indian consumers of branded apparel.

An online questionnaire was used to collect data from 317 Indian customers of branded apparel, and the data were analyzed using the partial least squares structural equation modeling (PLS-SEM) with the help of SmartPLS version 4.

First, the results indicated that SMU, eWOM and BE significantly impact consumers purchase intention; at the same time, BE is influenced by SMU and eWOM. Second, results confirmed that BE partially mediates the effects of SMU and eWOM on the purchase intentions of consumers of apparel brands.

The study's dataset is limited in its generalizability as it is based on specific responses from Indian consumers of branded apparel via an online survey. The results of this study would help marketers and advertisers create customized advertising campaigns for the people who are most likely to buy their products. Marketers can also use social media to promote the uniqueness or point of difference (PoD) of their apparel brands.

To the best of the authors' knowledge, no study has been conducted on apparel brands in the Indian context that has tested an integrative model, in which BE mediates the effects of SMU and eWOM on the purchase intentions of customers of apparel brands.

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Demystifying the effect of social media usage and eWOM on purchase intention: the mediating role of brand equity10.1108/JEAS-05-2023-0102Journal of Economic and Administrative Sciences2024-01-09© 2023 Emerald Publishing LimitedZebran KhanAriba KhanMohammed Kamalun NabiZeba KhanamJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2024-01-0910.1108/JEAS-05-2023-0102https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0102/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Non-linear dynamics in finance–inequality nexus: time series evidence from the Indian economyhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0106/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe principal aim of this study is to examine the relationship between financial development and income inequality in India using the financial Kuznets curve (FKC) hypothesis. This study uses the autoregressive distributed lag (ARDL) model and the Toda–-Yamamoto causality test to investigate the long-run and short-run relationship and causality between financial development and income inequality. In addition, this study employs a principal component analysis (PCA) to construct a comprehensive financial development index. The study found a long-run relationship between financial development and income inequality in India for the period under consideration. Trade is found to improve the income distribution, while inflation worsens income distribution. Moreover, the empirical results revealed a feedback causality between financial development and income inequality. The study results confirm an inverted U-shaped relationship between financial sector development indicators and income inequality, thus validating the FKC hypothesis for the Indian economy. The study draws attention of the government and policymakers, urging them to focus on building a strong financial sector by improving its efficiency. This, in turn, will lead to enhanced financial stability and a reduction in income inequality. They should prioritise the development of high-quality and sustainable financial products and services to ensure the robust growth of the financial sector. To the best of our knowledge, this study is the latest of its kind to empirically test the financial development on income inequality and the FKC hypothesis simultaneously for the Indian economy using financial proxy variables from financial institutions (FIs) and financial markets (FMs) for the measurement of financial depth.Non-linear dynamics in finance–inequality nexus: time series evidence from the Indian economy
Aadil Amin, Asif Tariq, Masroor Ahmad
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The principal aim of this study is to examine the relationship between financial development and income inequality in India using the financial Kuznets curve (FKC) hypothesis.

This study uses the autoregressive distributed lag (ARDL) model and the Toda–-Yamamoto causality test to investigate the long-run and short-run relationship and causality between financial development and income inequality. In addition, this study employs a principal component analysis (PCA) to construct a comprehensive financial development index.

The study found a long-run relationship between financial development and income inequality in India for the period under consideration. Trade is found to improve the income distribution, while inflation worsens income distribution. Moreover, the empirical results revealed a feedback causality between financial development and income inequality. The study results confirm an inverted U-shaped relationship between financial sector development indicators and income inequality, thus validating the FKC hypothesis for the Indian economy.

The study draws attention of the government and policymakers, urging them to focus on building a strong financial sector by improving its efficiency. This, in turn, will lead to enhanced financial stability and a reduction in income inequality. They should prioritise the development of high-quality and sustainable financial products and services to ensure the robust growth of the financial sector.

To the best of our knowledge, this study is the latest of its kind to empirically test the financial development on income inequality and the FKC hypothesis simultaneously for the Indian economy using financial proxy variables from financial institutions (FIs) and financial markets (FMs) for the measurement of financial depth.

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Non-linear dynamics in finance–inequality nexus: time series evidence from the Indian economy10.1108/JEAS-05-2023-0106Journal of Economic and Administrative Sciences2023-10-09© 2023 Emerald Publishing LimitedAadil AminAsif TariqMasroor AhmadJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-10-0910.1108/JEAS-05-2023-0106https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0106/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Impact of technical efficiency and input-driven growth in the Indian food processing sectorhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0108/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study examines the performance of India's food processing sector by estimating its output growth, technical efficiency (TE) and input-driven growth (IDG) This study used panel data from six food processing manufacturing industries for the period 2000–01 to 2017–18. Technical efficiency and input-driven growth was measured using the parametric half-normal stochastic frontier production function. The findings of this study showed that the estimated average technical efficiency is 86.6%, which specifies that the Indian food processing sector is technically inefficient. In addition, the output growth rate is 5.5%, driven by high doses of inputs (5.7%), whereas there is no indication of constant returns to scale. However, the food processing sector has experienced more input-driven expansion than either technological or efficiency changes. This study is limited to India's organized manufacturing food processing sector; the aggregate macro data at a three-digit level based on the national industrial classification (NIC) was used. This study provides robust estimates for industrialists and processors, as well as concrete policy formulations on how overdoses of inputs may lead to high exploitation of resources, whereas outputs can be augmented by implementing upgraded and new technologies. Previous research has estimated the total factor productivity and technical efficiency only in order to analyze the food sector's performance, but none of the studies have evaluated the share of inputs in growth performance and efficiency. Therefore, this study contributes by measuring growth performance and the share of inputs in the growth performance of India's food processing sector.Impact of technical efficiency and input-driven growth in the Indian food processing sector
Vasim Akram, Hussein Al-Zyoud, Asheref Illiyan, Fathi Elloumi
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study examines the performance of India's food processing sector by estimating its output growth, technical efficiency (TE) and input-driven growth (IDG)

This study used panel data from six food processing manufacturing industries for the period 2000–01 to 2017–18. Technical efficiency and input-driven growth was measured using the parametric half-normal stochastic frontier production function.

The findings of this study showed that the estimated average technical efficiency is 86.6%, which specifies that the Indian food processing sector is technically inefficient. In addition, the output growth rate is 5.5%, driven by high doses of inputs (5.7%), whereas there is no indication of constant returns to scale. However, the food processing sector has experienced more input-driven expansion than either technological or efficiency changes.

This study is limited to India's organized manufacturing food processing sector; the aggregate macro data at a three-digit level based on the national industrial classification (NIC) was used. This study provides robust estimates for industrialists and processors, as well as concrete policy formulations on how overdoses of inputs may lead to high exploitation of resources, whereas outputs can be augmented by implementing upgraded and new technologies.

Previous research has estimated the total factor productivity and technical efficiency only in order to analyze the food sector's performance, but none of the studies have evaluated the share of inputs in growth performance and efficiency. Therefore, this study contributes by measuring growth performance and the share of inputs in the growth performance of India's food processing sector.

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Impact of technical efficiency and input-driven growth in the Indian food processing sector10.1108/JEAS-05-2023-0108Journal of Economic and Administrative Sciences2023-10-19© 2023 Emerald Publishing LimitedVasim AkramHussein Al-ZyoudAsheref IlliyanFathi ElloumiJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-10-1910.1108/JEAS-05-2023-0108https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0108/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Global and domestic drivers of inflation: evidence from select South Asian countrieshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0110/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study empirically examines the impact of some domestic as well as global factors such as trade openness (TO), money supply (MS), exchange rate, global oil prices (GOPs) and interest rate (IR) on inflation. This study deploys a quantitative method considering 30 years of data (1991–2020) from four South Asian countries, namely, Sri Lanka, Pakistan, Bangladesh and India. To determine the potential impact of different factors on inflation, this study applies the panel analysis of the system generalized method of moments (SGMM). This study empirically finds that TO, MS, exchange rate and GOPs have a positive impact on inflation, while IR and the structural adjustment program (SAP) have a negative impact on inflation. Out of the various determinants considered in this study, TO, exchange rate and the SAP are insignificant, while the rest of the variables are significant and consistent with previous studies. This study informs policymakers about maintaining price stability and fostering economic growth in South Asian nations. It breaks new ground as the first empirical examination of the International Monetary Fund (IMF)’s SAP impact on inflation in the region. This study tries to find out whether the SAP of the IMF is responsible for inflation in South Asian countries. It gives renewed attention to the causality of inflation from the perspective of countries receiving loans from donors, especially the IMF.Global and domestic drivers of inflation: evidence from select South Asian countries
Muhammad Sajid, Amanat Ali, Sareer Ahmad, Nikhil Chandra Shil, Izaz Arshad
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study empirically examines the impact of some domestic as well as global factors such as trade openness (TO), money supply (MS), exchange rate, global oil prices (GOPs) and interest rate (IR) on inflation.

This study deploys a quantitative method considering 30 years of data (1991–2020) from four South Asian countries, namely, Sri Lanka, Pakistan, Bangladesh and India. To determine the potential impact of different factors on inflation, this study applies the panel analysis of the system generalized method of moments (SGMM).

This study empirically finds that TO, MS, exchange rate and GOPs have a positive impact on inflation, while IR and the structural adjustment program (SAP) have a negative impact on inflation. Out of the various determinants considered in this study, TO, exchange rate and the SAP are insignificant, while the rest of the variables are significant and consistent with previous studies.

This study informs policymakers about maintaining price stability and fostering economic growth in South Asian nations. It breaks new ground as the first empirical examination of the International Monetary Fund (IMF)’s SAP impact on inflation in the region.

This study tries to find out whether the SAP of the IMF is responsible for inflation in South Asian countries. It gives renewed attention to the causality of inflation from the perspective of countries receiving loans from donors, especially the IMF.

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Global and domestic drivers of inflation: evidence from select South Asian countries10.1108/JEAS-05-2023-0110Journal of Economic and Administrative Sciences2024-02-05© 2024 Emerald Publishing LimitedMuhammad SajidAmanat AliSareer AhmadNikhil Chandra ShilIzaz ArshadJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2024-02-0510.1108/JEAS-05-2023-0110https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0110/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Do tax burdens and currency outside banks drive economic development? Empirics from Ghanahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0112/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestSome African policymakers have turned their attention towards electronic transaction levy (e-levy) to maximise tax revenues in recent years due to the inability to meet revenue targets. However, some argue that the implementation of an e-levy will increase the tax burden (TB) and the currency outside banks (COB). Primarily, this paper examined the effects of the TB and COB on economic development as well as the impact of institutional quality on moderating the nexus. This paper used structural equation modelling (SEM) and maximum likelihood (ML) estimation techniques on quarterised data from 1996 to 2020. The results show that the TB negatively impacts gross domestic product (GDP) per capita and urbanisation but positively affects the Economic Freedom of the World Index (EFWI). The COB impacts EFWI, GDP per capita and urbanisation positively. Institutional quality moderates the TB and the COB, establishing positive relationships with the economic development indicators. The findings strongly imply that the arguments that TB and COB are catalysts for tax evasion and corruption lack substantial empirical evidence. The examination of the econometric impact of the COB on economic development is one of the first studies in the field. The paper recommends that to drive economic development and accelerate sustainable development goals (SDGs) achievement, tax revenues should be channelled into the productive sectors of the Ghanaian economy.Do tax burdens and currency outside banks drive economic development? Empirics from Ghana
John Kwaku Amoh, Kenneth Ofori-Boateng, Randolph Nsor-Ambala, Ebenezer Bugri Anarfo
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Some African policymakers have turned their attention towards electronic transaction levy (e-levy) to maximise tax revenues in recent years due to the inability to meet revenue targets. However, some argue that the implementation of an e-levy will increase the tax burden (TB) and the currency outside banks (COB). Primarily, this paper examined the effects of the TB and COB on economic development as well as the impact of institutional quality on moderating the nexus.

This paper used structural equation modelling (SEM) and maximum likelihood (ML) estimation techniques on quarterised data from 1996 to 2020.

The results show that the TB negatively impacts gross domestic product (GDP) per capita and urbanisation but positively affects the Economic Freedom of the World Index (EFWI). The COB impacts EFWI, GDP per capita and urbanisation positively. Institutional quality moderates the TB and the COB, establishing positive relationships with the economic development indicators.

The findings strongly imply that the arguments that TB and COB are catalysts for tax evasion and corruption lack substantial empirical evidence.

The examination of the econometric impact of the COB on economic development is one of the first studies in the field. The paper recommends that to drive economic development and accelerate sustainable development goals (SDGs) achievement, tax revenues should be channelled into the productive sectors of the Ghanaian economy.

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Do tax burdens and currency outside banks drive economic development? Empirics from Ghana10.1108/JEAS-05-2023-0112Journal of Economic and Administrative Sciences2023-12-28© 2023 Emerald Publishing LimitedJohn Kwaku AmohKenneth Ofori-BoatengRandolph Nsor-AmbalaEbenezer Bugri AnarfoJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-12-2810.1108/JEAS-05-2023-0112https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0112/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Using a comprehensive DEMATEL-ISM-MICMAC and importance–performance analysis to study sustainable service quality featureshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0114/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestTo gain and differentiate competitive advantage, the sustainable service quality is a determining factor that railway companies can use. The purpose of this study is to identify both the importance and performance of rail transportation service quality factors in a case study as well as determine the most influential quality features. A comprehensive approach namely importance–performance analysis (IPA) technique and decision-making trail and evaluation laboratory (DEMATEL), and interpretive structural modeling (ISM) and Matriced’ Impacts Croisés Multiplication Appliquée á un Classement (MICMAC) techniques was utilized. The relative position of each attribute is specified on the IPA matrix proposing four strategies of concentrate here, keep up the good work, low priority and possible overkill. This study reveals that attributes of “the company cares about having a good society” are the most influential factor, and “having good business relations with shareholders” is the most permeable factor. Actually, consumers pay attention to how companies act toward society and maintain communication with shareholders. Through ISM technique and by summing the row and column of the consistency matrix, the attributes were partitioned into four levels. Also, MICMAC analysis identified the four clusters of linkage, independent, autonomous and dependent status of the attributes in terms of the driving power and dependence power. Due to the nature of single case study methodology, caution should be taken into consideration regarding the generazability of the obtained results. The hybrid DEMATEL-ISM technique is used to analyze service quality factors in Iran’s transportation industry, which can be utilized in other industries as well as other countries.Using a comprehensive DEMATEL-ISM-MICMAC and importance–performance analysis to study sustainable service quality features
Maryam Ebrahimi, Amir Daneshvar, Changiz Valmohammadi
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

To gain and differentiate competitive advantage, the sustainable service quality is a determining factor that railway companies can use. The purpose of this study is to identify both the importance and performance of rail transportation service quality factors in a case study as well as determine the most influential quality features.

A comprehensive approach namely importance–performance analysis (IPA) technique and decision-making trail and evaluation laboratory (DEMATEL), and interpretive structural modeling (ISM) and Matriced’ Impacts Croisés Multiplication Appliquée á un Classement (MICMAC) techniques was utilized.

The relative position of each attribute is specified on the IPA matrix proposing four strategies of concentrate here, keep up the good work, low priority and possible overkill. This study reveals that attributes of “the company cares about having a good society” are the most influential factor, and “having good business relations with shareholders” is the most permeable factor. Actually, consumers pay attention to how companies act toward society and maintain communication with shareholders. Through ISM technique and by summing the row and column of the consistency matrix, the attributes were partitioned into four levels. Also, MICMAC analysis identified the four clusters of linkage, independent, autonomous and dependent status of the attributes in terms of the driving power and dependence power.

Due to the nature of single case study methodology, caution should be taken into consideration regarding the generazability of the obtained results.

The hybrid DEMATEL-ISM technique is used to analyze service quality factors in Iran’s transportation industry, which can be utilized in other industries as well as other countries.

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Using a comprehensive DEMATEL-ISM-MICMAC and importance–performance analysis to study sustainable service quality features10.1108/JEAS-05-2023-0114Journal of Economic and Administrative Sciences2024-01-12© 2023 Emerald Publishing LimitedMaryam EbrahimiAmir DaneshvarChangiz ValmohammadiJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2024-01-1210.1108/JEAS-05-2023-0114https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0114/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Globalization–health outcomes nexus and institutional intermediation in Nigeriahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0115/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe role institutional quality plays in the rising pace of globalization and its associated health effects remain unclear in the literature. This study, therefore, empirically examined the moderating role of institutional quality on the globalization-health outcomes nexus in Nigeria, a country with a relatively weak health system. The study employed Dynamic Ordinary Least Square (DOLS) to estimate the empirical models. The Fully Modified Ordinary Least Square (FMOLS) and Canonical Cointegration Regression (CCR) techniques were thereafter used to check the consistency and robustness of our results. Annual time-series data spanning from 1984 to 2020 were sourced from the World Development Indicator, KOF Globalization Index, International Countries Risk Guide (ICRG) and Central Bank of Nigeria Statistical Bulletin databases. The results revealed that overall globalization and its three dimensional components (economic, political and social globalization) adversely affect life expectancy in their separate models, but increased life expectancy significantly after their interaction with government effectiveness. Also, real GDP, health aids, government recurrent health expenditure are other determinants of life expectancy in Nigeria. The Nigerian government should put in place appropriate mechanisms directed toward building and sustaining government effectiveness. This will help mitigate the negative effects of globalization and utilize its net positive benefits to improve life expectancy in Nigeria. The research is the first to comprehensively examine the moderating impact of institutional quality on the nexus between overall globalization as well as its three dimensional components (economic, political and social) on health outcomes in Nigeria.Globalization–health outcomes nexus and institutional intermediation in Nigeria
Oluseyi Omosuyi
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The role institutional quality plays in the rising pace of globalization and its associated health effects remain unclear in the literature. This study, therefore, empirically examined the moderating role of institutional quality on the globalization-health outcomes nexus in Nigeria, a country with a relatively weak health system.

The study employed Dynamic Ordinary Least Square (DOLS) to estimate the empirical models. The Fully Modified Ordinary Least Square (FMOLS) and Canonical Cointegration Regression (CCR) techniques were thereafter used to check the consistency and robustness of our results. Annual time-series data spanning from 1984 to 2020 were sourced from the World Development Indicator, KOF Globalization Index, International Countries Risk Guide (ICRG) and Central Bank of Nigeria Statistical Bulletin databases.

The results revealed that overall globalization and its three dimensional components (economic, political and social globalization) adversely affect life expectancy in their separate models, but increased life expectancy significantly after their interaction with government effectiveness. Also, real GDP, health aids, government recurrent health expenditure are other determinants of life expectancy in Nigeria.

The Nigerian government should put in place appropriate mechanisms directed toward building and sustaining government effectiveness. This will help mitigate the negative effects of globalization and utilize its net positive benefits to improve life expectancy in Nigeria.

The research is the first to comprehensively examine the moderating impact of institutional quality on the nexus between overall globalization as well as its three dimensional components (economic, political and social) on health outcomes in Nigeria.

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Globalization–health outcomes nexus and institutional intermediation in Nigeria10.1108/JEAS-05-2023-0115Journal of Economic and Administrative Sciences2023-08-21© 2023 Emerald Publishing LimitedOluseyi OmosuyiJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-08-2110.1108/JEAS-05-2023-0115https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0115/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Monetary policy and corporate investment: a bibliometric analysishttps://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0116/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study presents a systematic review of the literature on monetary policy and corporate investment together with bibliometric analysis. This study selected 455 articles from databases, Scopus and Web of science and the papers are reviewed systematically to identify their theoretical and empirical contributions. The results reveal that monetary policy can influence corporate investment. Post to the economic crisis (2008), there is an exponential growth in the number of publications. Berger, A., and Hubbard are the two prominent authors based on the highest citation score, whereas Marquez, R., and Vermuelen, P. are the two prolific authors, subject to their highest h-index. Journal of Banking & Finance was the top journal (total citations = 1482) and 5 publications. This study positively contributes to the comprehensive understanding of corporate investment, monetary policy transmission and firm capital structure choices. To the best of the author’s knowledge, this is the first study that conducts a systematic review of the influence of monetary policy on corporate investment.Monetary policy and corporate investment: a bibliometric analysis
Sajad Bagow, Nufazil Altaf
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study presents a systematic review of the literature on monetary policy and corporate investment together with bibliometric analysis.

This study selected 455 articles from databases, Scopus and Web of science and the papers are reviewed systematically to identify their theoretical and empirical contributions.

The results reveal that monetary policy can influence corporate investment. Post to the economic crisis (2008), there is an exponential growth in the number of publications. Berger, A., and Hubbard are the two prominent authors based on the highest citation score, whereas Marquez, R., and Vermuelen, P. are the two prolific authors, subject to their highest h-index. Journal of Banking & Finance was the top journal (total citations = 1482) and 5 publications.

This study positively contributes to the comprehensive understanding of corporate investment, monetary policy transmission and firm capital structure choices.

To the best of the author’s knowledge, this is the first study that conducts a systematic review of the influence of monetary policy on corporate investment.

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Monetary policy and corporate investment: a bibliometric analysis10.1108/JEAS-05-2023-0116Journal of Economic and Administrative Sciences2023-12-20© 2023 Emerald Publishing LimitedSajad BagowNufazil AltafJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-12-2010.1108/JEAS-05-2023-0116https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0116/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Income diversification and bank performance: an evidence from emerging economy of Pakistanhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0119/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe income structure of banks has undergone a notable change in recent decades; therefore, non-interest-based activities have gained much attention. This paper aims to examine the impact of income diversification on bank performance in Pakistan. A balanced panel data set of 20 Pakistani commercial banks is used from 2007 to 2020. The random effect model is employed to test the relationship between income diversification and financial performance. The empirical results indicate a significant positive impact of income diversification of banks on risk-adjusted returns on assets and equity. Moreover, while banks' risk-adjusted profit performance improves with the increase in bank size, equity ratio and loan ratio, it deteriorates with high credit risk and technology. However, geographical diversification does not explain financial performance in all the risk-adjusted return on equity models. Among the macroeconomic factors, the interest rate influences bank risk-adjusted returns positively, whereas gross domestic product and inflation rate have a negative effect on banks' financial performance. To the best of the author's knowledge, this study is the first to empirically investigate the relationships between income diversification and the risk-adjusted profits of Pakistani-listed commercial banks. This study has implications for regulators and policymakers of commercial banks.Income diversification and bank performance: an evidence from emerging economy of Pakistan
Yasir Ashraf, Mian Sajid Nazir
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The income structure of banks has undergone a notable change in recent decades; therefore, non-interest-based activities have gained much attention. This paper aims to examine the impact of income diversification on bank performance in Pakistan.

A balanced panel data set of 20 Pakistani commercial banks is used from 2007 to 2020. The random effect model is employed to test the relationship between income diversification and financial performance.

The empirical results indicate a significant positive impact of income diversification of banks on risk-adjusted returns on assets and equity. Moreover, while banks' risk-adjusted profit performance improves with the increase in bank size, equity ratio and loan ratio, it deteriorates with high credit risk and technology. However, geographical diversification does not explain financial performance in all the risk-adjusted return on equity models. Among the macroeconomic factors, the interest rate influences bank risk-adjusted returns positively, whereas gross domestic product and inflation rate have a negative effect on banks' financial performance.

To the best of the author's knowledge, this study is the first to empirically investigate the relationships between income diversification and the risk-adjusted profits of Pakistani-listed commercial banks. This study has implications for regulators and policymakers of commercial banks.

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Income diversification and bank performance: an evidence from emerging economy of Pakistan10.1108/JEAS-05-2023-0119Journal of Economic and Administrative Sciences2023-12-18© 2023 Emerald Publishing LimitedYasir AshrafMian Sajid NazirJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-12-1810.1108/JEAS-05-2023-0119https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0119/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Does inflation expectation affect banks' performances? Evidence from Indian banking sectorhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0123/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe study intends to evaluate the impact of inflation expectation on the performance of listed commercial banks in India during 2005–2021. Inflation expectation is considered as a direct policy tool by the policymakers for stability of the economy. The study explores how inflation expectation affects the performance indicators of the Indian banking industry while controlling for a wide range of bank-specific factors. The study applies the generalized method of moments (GMM) on a panel sample of 27 listed bank to analyse the impact of inflation expectation on banking sector performance. The data on inflation expectation are obtained from the household inflation expectation survey introduced in India by the Reserve Bank of India in 2005. Return on assets (ROA), return on equity (ROE) and Tobin's Q have been considered as the banking performance indicators in this study. Empirical results exhibit that inflation expectation is instrumental in deciding the banking sector's performance. Inflation expectation has been found to have a significant and positive impact on accounting-based measures of banking performance. At the same time, it shows negative impact on the marketing-based measure. The study gives a clear picture about how inflation expectation affects the banking performance and the monetary policy of the country. The study provides crucial insights to develop strategic decisions for the Indian banking sector. The adoption of proper macroeconomic policies, taking into account inflation expectation levels, is instrumental in enhancing bank's performance and in achieving economic growth. This study contributes to the growing body of literature on the impact of inflationary conditions on banking performance. The originality lies in capturing the role of inflation expectation solely in determining banking sector performance.Does inflation expectation affect banks' performances? Evidence from Indian banking sector
Minnu Baby Maria, Farah Hussain
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The study intends to evaluate the impact of inflation expectation on the performance of listed commercial banks in India during 2005–2021. Inflation expectation is considered as a direct policy tool by the policymakers for stability of the economy. The study explores how inflation expectation affects the performance indicators of the Indian banking industry while controlling for a wide range of bank-specific factors.

The study applies the generalized method of moments (GMM) on a panel sample of 27 listed bank to analyse the impact of inflation expectation on banking sector performance. The data on inflation expectation are obtained from the household inflation expectation survey introduced in India by the Reserve Bank of India in 2005. Return on assets (ROA), return on equity (ROE) and Tobin's Q have been considered as the banking performance indicators in this study.

Empirical results exhibit that inflation expectation is instrumental in deciding the banking sector's performance. Inflation expectation has been found to have a significant and positive impact on accounting-based measures of banking performance. At the same time, it shows negative impact on the marketing-based measure.

The study gives a clear picture about how inflation expectation affects the banking performance and the monetary policy of the country. The study provides crucial insights to develop strategic decisions for the Indian banking sector. The adoption of proper macroeconomic policies, taking into account inflation expectation levels, is instrumental in enhancing bank's performance and in achieving economic growth.

This study contributes to the growing body of literature on the impact of inflationary conditions on banking performance. The originality lies in capturing the role of inflation expectation solely in determining banking sector performance.

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Does inflation expectation affect banks' performances? Evidence from Indian banking sector10.1108/JEAS-05-2023-0123Journal of Economic and Administrative Sciences2023-11-01© 2023 Emerald Publishing LimitedMinnu Baby MariaFarah HussainJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-11-0110.1108/JEAS-05-2023-0123https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0123/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Investigating the ecological footprint and green finance: evidence from emerging economieshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0124/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestConsidering the evolving importance of green finance, this study uses climate-related development mitigation finance as a proxy of green finance and investigates the impact of green finance on ecological footprint as an indicator of environmental quality along with the influence of economic growth, renewable energy, greenhouse gas emissions, trade openness and urbanization across 47 developing countries over the period 2000–2018. After finding the presence of cross-sectional dependency among variables, the second-generation panel unit root test was employed to detect the order of integration among the variables. Since all the variables were found to be stationary, Westerlund cointegration technique was employed to detect the long-run relationship among the variables. Then, the long-run elasticity among the dependent and independent variables was tested using fully modified ordinary least squares (FMOLS), dynamic ordinary least squares (DOLS) and pooled mean group–autoregressive distributed lag (PMG–ARDL) approaches. The empirical findings suggest the presence of long-run relationship among all the variables, namely, ecological footprint, green finance, economic growth, renewable energy consumption, greenhouse gas emissions, trade openness and urbanization for the selected developing countries in the sample. Furthermore, economic growth, greenhouse gas emissions, trade openness and urbanization, all have a positive and significant impact on the ecological footprint, whereas renewable energy consumption and green finance have a significant and negative impact on the ecological footprint, which supports the view that environmental quality is improved with the greater use of renewable energy technologies and allocation of greater amounts of more green finance. The empirical results of this study offer policymakers and regulators some implications for environmental policy for protecting the countries from ecological issues.Investigating the ecological footprint and green finance: evidence from emerging economies
Gülin Vardar, Berna Aydoğan, Beyza Gürel
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Considering the evolving importance of green finance, this study uses climate-related development mitigation finance as a proxy of green finance and investigates the impact of green finance on ecological footprint as an indicator of environmental quality along with the influence of economic growth, renewable energy, greenhouse gas emissions, trade openness and urbanization across 47 developing countries over the period 2000–2018.

After finding the presence of cross-sectional dependency among variables, the second-generation panel unit root test was employed to detect the order of integration among the variables. Since all the variables were found to be stationary, Westerlund cointegration technique was employed to detect the long-run relationship among the variables. Then, the long-run elasticity among the dependent and independent variables was tested using fully modified ordinary least squares (FMOLS), dynamic ordinary least squares (DOLS) and pooled mean group–autoregressive distributed lag (PMG–ARDL) approaches.

The empirical findings suggest the presence of long-run relationship among all the variables, namely, ecological footprint, green finance, economic growth, renewable energy consumption, greenhouse gas emissions, trade openness and urbanization for the selected developing countries in the sample. Furthermore, economic growth, greenhouse gas emissions, trade openness and urbanization, all have a positive and significant impact on the ecological footprint, whereas renewable energy consumption and green finance have a significant and negative impact on the ecological footprint, which supports the view that environmental quality is improved with the greater use of renewable energy technologies and allocation of greater amounts of more green finance.

The empirical results of this study offer policymakers and regulators some implications for environmental policy for protecting the countries from ecological issues.

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Investigating the ecological footprint and green finance: evidence from emerging economies10.1108/JEAS-05-2023-0124Journal of Economic and Administrative Sciences2023-11-28© 2023 Emerald Publishing LimitedGülin VardarBerna AydoğanBeyza GürelJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-11-2810.1108/JEAS-05-2023-0124https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0124/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Are Basel-III norms good for Indian banks? Examining performance, efficiency and resilience variance in private-sector and public-sector bankshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0129/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe study examines whether the Basel-III regulations impact the financial performance, operational efficiency and resilience of Indian banks. Further, the study tests whether there is a variance in the impact between private- and public-sector banks. The study uses panel data regression on data from 16 private- and 12 public-sector banks from the years 2016–2022. Random-effect estimation is used, and robust standard errors are calculated. The main findings indicate that the Basel-III regulations related to capital and leverage boost public-sector banks' financial performance and resilience. However, a similar impact is not detected in the case of private-sector banks. The findings signify that the Basel-III framework does not address the differences between public and private-sector banks. Therefore, the policy implications are of practical importance and indicate that Basel-III regulations should not be considered a one-size-fits-all type of bank. Instead, policymakers should consider the structural differences between private and public-sector banks concerning Basel-III regulations. The study addresses a significant limitation of the Basel-III regulations, which, in their current state, somehow fail to account for the differences between the public- and private-sector banks.Are Basel-III norms good for Indian banks? Examining performance, efficiency and resilience variance in private-sector and public-sector banks
Megha Jaiwani, Santosh Gopalkrishnan
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The study examines whether the Basel-III regulations impact the financial performance, operational efficiency and resilience of Indian banks. Further, the study tests whether there is a variance in the impact between private- and public-sector banks.

The study uses panel data regression on data from 16 private- and 12 public-sector banks from the years 2016–2022. Random-effect estimation is used, and robust standard errors are calculated.

The main findings indicate that the Basel-III regulations related to capital and leverage boost public-sector banks' financial performance and resilience. However, a similar impact is not detected in the case of private-sector banks.

The findings signify that the Basel-III framework does not address the differences between public and private-sector banks. Therefore, the policy implications are of practical importance and indicate that Basel-III regulations should not be considered a one-size-fits-all type of bank. Instead, policymakers should consider the structural differences between private and public-sector banks concerning Basel-III regulations.

The study addresses a significant limitation of the Basel-III regulations, which, in their current state, somehow fail to account for the differences between the public- and private-sector banks.

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Are Basel-III norms good for Indian banks? Examining performance, efficiency and resilience variance in private-sector and public-sector banks10.1108/JEAS-05-2023-0129Journal of Economic and Administrative Sciences2023-10-17© 2023 Emerald Publishing LimitedMegha JaiwaniSantosh GopalkrishnanJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-10-1710.1108/JEAS-05-2023-0129https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0129/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
The ramification of competition and concentration on bank risk-taking behavior and stability: corroboration from South Asian Association for Regional Cooperationhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0132/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe study investigates the impact of competition and concentration on bank risk-taking behavior and stability in the South Asian Association for Regional Cooperation (SAARC) region. Data from 100 banks from 2013 to 2021 was analyzed using dynamic and static measures by using dynamic system GMM. Results showed that higher competition reduces stability, while concentration in the banking sector produces stability and reduces risk-taking behavior. The findings suggest that regulatory agencies should take different actions based on the degree of banking market concentration to enhance banking sector stability in the SAARC area. The research helps regulators and decision-makers establish capital requirements at levels that would prevent banks from increasing their risk-taking in order to boost profits and, therefore, reduces hazardous practices that might increase the risk. The research helps establish capital requirements to prevent banks from increasing risk-taking to boost profits and avoid hazardous practices that could increase nonperforming loans and bank failure risks.The ramification of competition and concentration on bank risk-taking behavior and stability: corroboration from South Asian Association for Regional Cooperation
Shanza Maryam Khan, Shahzad Akhtar
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The study investigates the impact of competition and concentration on bank risk-taking behavior and stability in the South Asian Association for Regional Cooperation (SAARC) region.

Data from 100 banks from 2013 to 2021 was analyzed using dynamic and static measures by using dynamic system GMM.

Results showed that higher competition reduces stability, while concentration in the banking sector produces stability and reduces risk-taking behavior. The findings suggest that regulatory agencies should take different actions based on the degree of banking market concentration to enhance banking sector stability in the SAARC area.

The research helps regulators and decision-makers establish capital requirements at levels that would prevent banks from increasing their risk-taking in order to boost profits and, therefore, reduces hazardous practices that might increase the risk.

The research helps establish capital requirements to prevent banks from increasing risk-taking to boost profits and avoid hazardous practices that could increase nonperforming loans and bank failure risks.

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The ramification of competition and concentration on bank risk-taking behavior and stability: corroboration from South Asian Association for Regional Cooperation10.1108/JEAS-05-2023-0132Journal of Economic and Administrative Sciences2024-01-12© 2023 Emerald Publishing LimitedShanza Maryam KhanShahzad AkhtarJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2024-01-1210.1108/JEAS-05-2023-0132https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0132/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
The relationship between intellectual capital and audit report readability and audit report tonehttps://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0136/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestFinancial reports are the basis of economic decisions that affect organizational interests and shareholders. However, there is a severe research gap concerning the factors affecting the quality of financial information (such as audit report readability and tone). Therefore, considering the importance of presenting high-quality financial information, this study aims to investigate the impact of intellectual capital (IC) and its components on the audit report's readability and tone. The multivariate regression model tests research hypotheses. Then, hypotheses are tested via a sample of 824 observations of the listed companies on the Tehran Stock Exchange (103 companies) from 2014 to 2021, using the multivariate regression model based on pooled data and fixed effects. Results determine that customer capital (CC) and structural capital (SC) are likely to influence the audit report tone positively. In general, the IC and human capital (HC) negatively impact auditors' tone. More analyses also document that IC and its CC, HC and SC components positively and significantly affect audit report readability based on two readability indices, including FOG and text length. Finally, findings pertaining to the third readability index (Flesch index) reveal that only HC and SC are robust based on this measurement, whereas the IC and CC have a negative and significant impact on the readability of auditors’ reports. To the best of the authors’ knowledge, this study is the first to address this issue in emerging markets, and it provides helpful insights for users, analysts and legal institutions regarding IC, which significantly affects audit report readability and tone.The relationship between intellectual capital and audit report readability and audit report tone
Fatemeh Saeedi, Mahdi Salehi, Nour Mahmoud Yaghoubi
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Financial reports are the basis of economic decisions that affect organizational interests and shareholders. However, there is a severe research gap concerning the factors affecting the quality of financial information (such as audit report readability and tone). Therefore, considering the importance of presenting high-quality financial information, this study aims to investigate the impact of intellectual capital (IC) and its components on the audit report's readability and tone.

The multivariate regression model tests research hypotheses. Then, hypotheses are tested via a sample of 824 observations of the listed companies on the Tehran Stock Exchange (103 companies) from 2014 to 2021, using the multivariate regression model based on pooled data and fixed effects.

Results determine that customer capital (CC) and structural capital (SC) are likely to influence the audit report tone positively. In general, the IC and human capital (HC) negatively impact auditors' tone. More analyses also document that IC and its CC, HC and SC components positively and significantly affect audit report readability based on two readability indices, including FOG and text length. Finally, findings pertaining to the third readability index (Flesch index) reveal that only HC and SC are robust based on this measurement, whereas the IC and CC have a negative and significant impact on the readability of auditors’ reports.

To the best of the authors’ knowledge, this study is the first to address this issue in emerging markets, and it provides helpful insights for users, analysts and legal institutions regarding IC, which significantly affects audit report readability and tone.

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The relationship between intellectual capital and audit report readability and audit report tone10.1108/JEAS-05-2023-0136Journal of Economic and Administrative Sciences2023-11-20© 2023 Emerald Publishing LimitedFatemeh SaeediMahdi SalehiNour Mahmoud YaghoubiJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-11-2010.1108/JEAS-05-2023-0136https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0136/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Strategic leadership and transactional leadership: the mediating effect of digital leadership in the world of Industry 4.0https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0138/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe dearth of leadership competencies to transform traditional industries to Industry 4.0 is a barrier to global production. This study explains the deficiencies in leadership competencies that hinder the transformation of traditional industries to Industry 4.0. Leadership was explained into transactional leadership, digital leadership and Leadership 4.0. Then, the network of relationships between these leadership constructs was plotted in a path diagram to learn the mediating effect of digital leadership. The results indicate that a lack of digital competencies to coordinate tasks, share information and solve problems in a digitalized environment is the barrier to the transformation. The findings can be used in human resources (HR) management. In addition, the findings provide evidence to present the contingency theory as a universal theory of leadership. The study is the first to assess the mediating effect of digital leadership on transactional leadership to explain the changes to strategic leadership due to the emergence of Leadership 4.0.Strategic leadership and transactional leadership: the mediating effect of digital leadership in the world of Industry 4.0
Arthur Joseph Avwokeni
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The dearth of leadership competencies to transform traditional industries to Industry 4.0 is a barrier to global production. This study explains the deficiencies in leadership competencies that hinder the transformation of traditional industries to Industry 4.0.

Leadership was explained into transactional leadership, digital leadership and Leadership 4.0. Then, the network of relationships between these leadership constructs was plotted in a path diagram to learn the mediating effect of digital leadership.

The results indicate that a lack of digital competencies to coordinate tasks, share information and solve problems in a digitalized environment is the barrier to the transformation.

The findings can be used in human resources (HR) management. In addition, the findings provide evidence to present the contingency theory as a universal theory of leadership.

The study is the first to assess the mediating effect of digital leadership on transactional leadership to explain the changes to strategic leadership due to the emergence of Leadership 4.0.

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Strategic leadership and transactional leadership: the mediating effect of digital leadership in the world of Industry 4.010.1108/JEAS-05-2023-0138Journal of Economic and Administrative Sciences2024-02-13© 2024 Emerald Publishing LimitedArthur Joseph AvwokeniJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2024-02-1310.1108/JEAS-05-2023-0138https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0138/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Examining the link between responsible leadership and employee sustainable performance: the mediating role of ethical climatehttps://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0139/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study investigates the relationship between responsible leadership (RL) and employee sustainable performance (ESP), utilizing the CSR theory as a theoretical framework. Furthermore, this study aims to examine the role of ethical climate as a potential mediator in the relationship between RL and ESP. A sample of 415 employees from the healthcare sector of India was collected through a questionnaire-based survey by using the convenience sampling technique. The data were analyzed using partial least squares structural equation modeling (PLS-SEM) with the help of SmartPLS 4. The study's findings demonstrated a significant, positive association between RL and ESP [employee well-being (EWB) and employee performance (EP)]. Additionally, the findings show that ethical climate partially mediates the link between RL and ESP (EWB and EP). The generalizability of the study's data collection is limited because it is based on the responses of Indian healthcare sector employees to an online and offline survey. The authors propose that the healthcare industry implement an intensive leadership training program in light of the findings of this study, which will aid human resource (HR) managers in comprehending the significance of RL and fostering related behaviors, such as encouraging employees to maintain ethical behavior and positive attitudes. To the authors' understanding, this study is among the earliest attempts to present an integrative model that examines the relationship between RL, ethical climate and ESP in the context of Indian healthcare employees, incorporating the theory of corporate social responsibility (CSR). Moreover, the novelty of this research study examines the relationship between RL and ESP, with an ethical climate serving as a mediator. The focus is specifically on employees working in the Indian healthcare sector.Examining the link between responsible leadership and employee sustainable performance: the mediating role of ethical climate
Zeba Khanam, Sheema Tarab, Zebran Khan
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study investigates the relationship between responsible leadership (RL) and employee sustainable performance (ESP), utilizing the CSR theory as a theoretical framework. Furthermore, this study aims to examine the role of ethical climate as a potential mediator in the relationship between RL and ESP.

A sample of 415 employees from the healthcare sector of India was collected through a questionnaire-based survey by using the convenience sampling technique. The data were analyzed using partial least squares structural equation modeling (PLS-SEM) with the help of SmartPLS 4.

The study's findings demonstrated a significant, positive association between RL and ESP [employee well-being (EWB) and employee performance (EP)]. Additionally, the findings show that ethical climate partially mediates the link between RL and ESP (EWB and EP).

The generalizability of the study's data collection is limited because it is based on the responses of Indian healthcare sector employees to an online and offline survey. The authors propose that the healthcare industry implement an intensive leadership training program in light of the findings of this study, which will aid human resource (HR) managers in comprehending the significance of RL and fostering related behaviors, such as encouraging employees to maintain ethical behavior and positive attitudes.

To the authors' understanding, this study is among the earliest attempts to present an integrative model that examines the relationship between RL, ethical climate and ESP in the context of Indian healthcare employees, incorporating the theory of corporate social responsibility (CSR). Moreover, the novelty of this research study examines the relationship between RL and ESP, with an ethical climate serving as a mediator. The focus is specifically on employees working in the Indian healthcare sector.

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Examining the link between responsible leadership and employee sustainable performance: the mediating role of ethical climate10.1108/JEAS-05-2023-0139Journal of Economic and Administrative Sciences2023-12-19© 2023 Emerald Publishing LimitedZeba KhanamSheema TarabZebran KhanJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-12-1910.1108/JEAS-05-2023-0139https://www.emerald.com/insight/content/doi/10.1108/JEAS-05-2023-0139/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
GCC countries' market risk premia and US monetary policy announcementshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-06-2020-0107/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to examine if the market risk premiums of the Gulf Cooperation Council (GCC) countries are particularly higher on prescheduled US monetary policy announcement days. The findings shed light on the causality relationship from the state of the global economy to the GCC equity markets as well as their integration with the rest of the world. The author takes the standard event-study approach, following Fama et al. (1969). As the announcement days are prescheduled, the impact of the announcements on the GCC markets' risk premia allows for test of causality, while other studies address predictability and association. The author finds that excess returns are higher, both economically and statistically, on announcement days in most individual GCC countries and the region overall. Moreover, additional compensations may not appear on the exact days of announcement in a few countries; rather, on the days right before or after announcements, possibly due to information leakage or gradual diffusion. My results show that there is a causal relationship from the state of the global economy to the GCC equity markets' risk premia. This new evidence supports integration between the Gulf region's and the world's financial markets. The evidence of risk–return transmission from US monetary policy announcements to GCC countries' equity indices supports integration between the region's and the world's financial markets. The study results will help guide investors' and corporations' investing, capital budgeting and portfolio evaluation decisions. This paper extends the announcement literature (Savor and Wilson 2013, 2014) by examining the responses of the GCC countries, the major players of the global oil markets. The empirical analysis documents a causal relationship from the state of the global economy, as revealed by US monetary policy announcements, to the GCC equity indices. This new evidence supports increased integration between the Gulf region and the world, a finding that investors and corporations should consider when making investing, capital budgeting and portfolio evaluation decisions.GCC countries' market risk premia and US monetary policy announcements
Hong Wu
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to examine if the market risk premiums of the Gulf Cooperation Council (GCC) countries are particularly higher on prescheduled US monetary policy announcement days. The findings shed light on the causality relationship from the state of the global economy to the GCC equity markets as well as their integration with the rest of the world.

The author takes the standard event-study approach, following Fama et al. (1969). As the announcement days are prescheduled, the impact of the announcements on the GCC markets' risk premia allows for test of causality, while other studies address predictability and association.

The author finds that excess returns are higher, both economically and statistically, on announcement days in most individual GCC countries and the region overall. Moreover, additional compensations may not appear on the exact days of announcement in a few countries; rather, on the days right before or after announcements, possibly due to information leakage or gradual diffusion. My results show that there is a causal relationship from the state of the global economy to the GCC equity markets' risk premia. This new evidence supports integration between the Gulf region's and the world's financial markets.

The evidence of risk–return transmission from US monetary policy announcements to GCC countries' equity indices supports integration between the region's and the world's financial markets. The study results will help guide investors' and corporations' investing, capital budgeting and portfolio evaluation decisions.

This paper extends the announcement literature (Savor and Wilson 2013, 2014) by examining the responses of the GCC countries, the major players of the global oil markets. The empirical analysis documents a causal relationship from the state of the global economy, as revealed by US monetary policy announcements, to the GCC equity indices. This new evidence supports increased integration between the Gulf region and the world, a finding that investors and corporations should consider when making investing, capital budgeting and portfolio evaluation decisions.

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GCC countries' market risk premia and US monetary policy announcements10.1108/JEAS-06-2020-0107Journal of Economic and Administrative Sciences2021-03-19© 2021 Emerald Publishing LimitedHong WuJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2021-03-1910.1108/JEAS-06-2020-0107https://www.emerald.com/insight/content/doi/10.1108/JEAS-06-2020-0107/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2021 Emerald Publishing Limited
Global integration of the Gulf cooperation council marketshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-06-2020-0109/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper investigates the global financial integration of the Gulf Cooperation Council markets, which is important for financial economists, global investors and policymakers. The first step is to estimate a benchmark one-factor model and multifactor models over the entire sample period to obtain the time-invariant global integration estimates for the Gulf Cooperation Council markets. Because the global integration of the Gulf Cooperation Council markets may be time varying, the second step is to use 24-month rolling regressions to estimate the time-varying integration estimates. To explicitly test for structural breaks in global integration, this study applies a supremum Wald test to endogenously search for structural breaks. Empirically, consistent evidence suggests that the Gulf Cooperation Council markets are increasingly integrated with international equity markets at different levels of financial development and from different regions. However, compared to other emerging and frontier markets, the global integration of the Gulf Cooperation Council markets is still relatively low, suggesting that these markets still offer significant diversification benefits for global investors. This study contributes to the literature by systematically investigating the global integration of the Gulf Cooperation Council markets with monthly data (to account for the gradual information diffusion in international equity markets) and a longer sample period (to more robustly identify the trend in the global integration).Global integration of the Gulf cooperation council markets
Xiaobing Zhao
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper investigates the global financial integration of the Gulf Cooperation Council markets, which is important for financial economists, global investors and policymakers.

The first step is to estimate a benchmark one-factor model and multifactor models over the entire sample period to obtain the time-invariant global integration estimates for the Gulf Cooperation Council markets. Because the global integration of the Gulf Cooperation Council markets may be time varying, the second step is to use 24-month rolling regressions to estimate the time-varying integration estimates. To explicitly test for structural breaks in global integration, this study applies a supremum Wald test to endogenously search for structural breaks.

Empirically, consistent evidence suggests that the Gulf Cooperation Council markets are increasingly integrated with international equity markets at different levels of financial development and from different regions. However, compared to other emerging and frontier markets, the global integration of the Gulf Cooperation Council markets is still relatively low, suggesting that these markets still offer significant diversification benefits for global investors.

This study contributes to the literature by systematically investigating the global integration of the Gulf Cooperation Council markets with monthly data (to account for the gradual information diffusion in international equity markets) and a longer sample period (to more robustly identify the trend in the global integration).

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Global integration of the Gulf cooperation council markets10.1108/JEAS-06-2020-0109Journal of Economic and Administrative Sciences2021-03-02© 2021 Emerald Publishing LimitedXiaobing ZhaoJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2021-03-0210.1108/JEAS-06-2020-0109https://www.emerald.com/insight/content/doi/10.1108/JEAS-06-2020-0109/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2021 Emerald Publishing Limited
Agency issues in franchising electricity distribution companies: inter-organizational and multi-level studyhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-06-2021-0115/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestManagement of power distribution companies (discoms) in India has been historically criticized on the ground of inefficient management. Inefficiency in operations triggered management by private franchisees for promotion of managerial and technical expertise. However, franchise contracts have achieved mixed outcomes despite the business model being a decade old in the Indian power distribution sector. Therefore, this study sheds light on the drivers of discoms (principal) with the franchisees (agent) for the achievement of the common performance goals, highlighting the agency issues at multiple levels across the organizational hierarchies. The study seeks to acknowledge the commonalities and differences between and across varying levels. A qualitative embedded single case study was conducted in an Indian state, namely Odisha. The study was built on archival analysis, personal observations and semi-structured interviews with the franchisors and franchisee officials across the organization's hierarchical levels. A conceptual model based on the review of prior literature formed the set of coding and presentation for the study. The study provides insights on factors that play a role in effective power distribution management, operational efficiency and improved financial performance through the partnership of the principal and the agent. The study is predominantly dependent upon interviews. This paved the way for the limitation of human biases. Additionally, deep insights were drawn from a single case study of a discom's decision to hire franchisees. However, this was at the cost of the number of organizations interviewed. The findings of the study could be built across other areas or nations. There is adequate literature on franchising as a business model. However, literature is lacking in highlighting the commonalities and differences between different contracting parties and their impact on the performance of the contract. Additionally, there is a dearth of literature on franchising in the power distribution sector. Therefore, studying the model from multiple perspectives would contribute to the literature on the power sector and franchising.Agency issues in franchising electricity distribution companies: inter-organizational and multi-level study
Mrigakshi Das
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Management of power distribution companies (discoms) in India has been historically criticized on the ground of inefficient management. Inefficiency in operations triggered management by private franchisees for promotion of managerial and technical expertise. However, franchise contracts have achieved mixed outcomes despite the business model being a decade old in the Indian power distribution sector. Therefore, this study sheds light on the drivers of discoms (principal) with the franchisees (agent) for the achievement of the common performance goals, highlighting the agency issues at multiple levels across the organizational hierarchies. The study seeks to acknowledge the commonalities and differences between and across varying levels.

A qualitative embedded single case study was conducted in an Indian state, namely Odisha. The study was built on archival analysis, personal observations and semi-structured interviews with the franchisors and franchisee officials across the organization's hierarchical levels. A conceptual model based on the review of prior literature formed the set of coding and presentation for the study.

The study provides insights on factors that play a role in effective power distribution management, operational efficiency and improved financial performance through the partnership of the principal and the agent.

The study is predominantly dependent upon interviews. This paved the way for the limitation of human biases. Additionally, deep insights were drawn from a single case study of a discom's decision to hire franchisees. However, this was at the cost of the number of organizations interviewed. The findings of the study could be built across other areas or nations.

There is adequate literature on franchising as a business model. However, literature is lacking in highlighting the commonalities and differences between different contracting parties and their impact on the performance of the contract. Additionally, there is a dearth of literature on franchising in the power distribution sector. Therefore, studying the model from multiple perspectives would contribute to the literature on the power sector and franchising.

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Agency issues in franchising electricity distribution companies: inter-organizational and multi-level study10.1108/JEAS-06-2021-0115Journal of Economic and Administrative Sciences2022-01-13© 2021 Emerald Publishing LimitedMrigakshi DasJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-01-1310.1108/JEAS-06-2021-0115https://www.emerald.com/insight/content/doi/10.1108/JEAS-06-2021-0115/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2021 Emerald Publishing Limited
Determinants of working capital management for emerging markets firms: evidence from the MENA regionhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-06-2022-0142/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study examines the impact of firm-specific and macroeconomic factors on the working capital behavior of firms listed in the Middle East and North African (MENA) region. This study is based on a panel data analysis of 687 firms listed on 11 MENA markets, carried out using the Generalized Method of Moments (GMM) approach. The results of this study reveal that profitable firms with high levels of operating cash flows adopt a conservative working capital management. Young firms with rapid growth rates, highly leveraged firms and firms with large investments in fixed assets have higher liquidity needs, which explains their tendency to pursue aggressive working capital strategies. Similarly, large firms exercise their bargaining power over their clients and suppliers to implement an aggressive approach of working capital management. Finally, firms do not have the luxury to decide how working capital should be managed when they are subject to outside macroeconomic forces that affect their stakeholders as well. The findings of this study can help managers adopt efficient practices and identify optimal working capital levels. Firms in the MENA region maintain excess reserves of cash, which causes under-investment and inefficient allocation of resources in the economy. Improving working capital management practices can allow firms to regain operational efficiency, enhance financial performance and support economic growth. To the best of the authors' knowledge, this study investigates this topic in MENA emerging markets and contributes to enriching the existing corporate finance literature in emerging markets.Determinants of working capital management for emerging markets firms: evidence from the MENA region
Imad Jabbouri, Yassine Benrqya, Harit Satt, Maryem Naili, Kenza Omari
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study examines the impact of firm-specific and macroeconomic factors on the working capital behavior of firms listed in the Middle East and North African (MENA) region.

This study is based on a panel data analysis of 687 firms listed on 11 MENA markets, carried out using the Generalized Method of Moments (GMM) approach.

The results of this study reveal that profitable firms with high levels of operating cash flows adopt a conservative working capital management. Young firms with rapid growth rates, highly leveraged firms and firms with large investments in fixed assets have higher liquidity needs, which explains their tendency to pursue aggressive working capital strategies. Similarly, large firms exercise their bargaining power over their clients and suppliers to implement an aggressive approach of working capital management. Finally, firms do not have the luxury to decide how working capital should be managed when they are subject to outside macroeconomic forces that affect their stakeholders as well.

The findings of this study can help managers adopt efficient practices and identify optimal working capital levels. Firms in the MENA region maintain excess reserves of cash, which causes under-investment and inefficient allocation of resources in the economy. Improving working capital management practices can allow firms to regain operational efficiency, enhance financial performance and support economic growth.

To the best of the authors' knowledge, this study investigates this topic in MENA emerging markets and contributes to enriching the existing corporate finance literature in emerging markets.

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Determinants of working capital management for emerging markets firms: evidence from the MENA region10.1108/JEAS-06-2022-0142Journal of Economic and Administrative Sciences2023-07-12© 2023 Emerald Publishing LimitedImad JabbouriYassine BenrqyaHarit SattMaryem NailiKenza OmariJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-07-1210.1108/JEAS-06-2022-0142https://www.emerald.com/insight/content/doi/10.1108/JEAS-06-2022-0142/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Board of directors’ attributes and capital structure: evidence from Pakistani-listed non-financial firmshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-06-2022-0155/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to explore the effect of the board of directors on the capital structure of listed non-financial firms on the Pakistan Stock Exchange (PSX). Using a panel data set of 208 financial Pakistani enterprises from 2015 to 2020, regression analysis is employed to examine the data utilizing independent variables such as board size, outside directors, directors' remuneration and managerial ownership to evaluate board characteristics and the total debt ratio for capital structure. The results show that the board size positively impacts the debt ratio. However, outside directors, directors' remuneration and managerial ownership are negatively connected with the capital structure. The empirical findings indicate that corporate governance mechanisms play an important role in the capital structure decision of Pakistani non-financial companies. This research contributes to the literature by addressing the function of the board of directors in the governance of Pakistani enterprises. Few studies in Pakistan focus on board characteristics and those that do utilize different variables. This research aims to fill a critical gap by investigating the effect of the board of directors' attributes and the capital structure of the listed non-financial sector of Pakistan.Board of directors’ attributes and capital structure: evidence from Pakistani-listed non-financial firms
Shams Ur Rahman, Afef Khalil, Luigi Pio Leonardo Cavaliere, Soumaya Ben Khelifa
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to explore the effect of the board of directors on the capital structure of listed non-financial firms on the Pakistan Stock Exchange (PSX).

Using a panel data set of 208 financial Pakistani enterprises from 2015 to 2020, regression analysis is employed to examine the data utilizing independent variables such as board size, outside directors, directors' remuneration and managerial ownership to evaluate board characteristics and the total debt ratio for capital structure.

The results show that the board size positively impacts the debt ratio. However, outside directors, directors' remuneration and managerial ownership are negatively connected with the capital structure. The empirical findings indicate that corporate governance mechanisms play an important role in the capital structure decision of Pakistani non-financial companies.

This research contributes to the literature by addressing the function of the board of directors in the governance of Pakistani enterprises.

Few studies in Pakistan focus on board characteristics and those that do utilize different variables. This research aims to fill a critical gap by investigating the effect of the board of directors' attributes and the capital structure of the listed non-financial sector of Pakistan.

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Board of directors’ attributes and capital structure: evidence from Pakistani-listed non-financial firms10.1108/JEAS-06-2022-0155Journal of Economic and Administrative Sciences2023-08-08© 2023 Emerald Publishing LimitedShams Ur RahmanAfef KhalilLuigi Pio Leonardo CavaliereSoumaya Ben KhelifaJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-08-0810.1108/JEAS-06-2022-0155https://www.emerald.com/insight/content/doi/10.1108/JEAS-06-2022-0155/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Impact of COVID-19 pandemic on rural migrants of Bihar: a cross-sectional studyhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-06-2023-0142/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper presents a cross-sectional study that assessed the impact of the COVID-19 pandemic on rural migrants in Bihar. The primary objective of this study was to evaluate the overall impact of the pandemic on migrants and examine their livelihoods, with a focus on identifying measures that can mitigate the economic consequences. This study used a telephonic survey to collect primary data from 419 respondents. Descriptive statistics were used to analyze the data, and three indices were constructed: fear and worries, trust and prevention. The findings provide insights into the psychological well-being of migrant workers and highlight the challenges they face in sustaining their livelihoods amidst the pandemic. This study concludes by suggesting potential measures to alleviate the economic impact and enhance the resilience of this vulnerable population. This study may be limited by the representativeness of the sample as well as the potential for social desirability bias. The study may also be limited by the reliability and validity of the measures used to capture the fear and worries, trust and prevention indices. Numerous studies have examined the impact of the COVID-19 pandemic on rural migrants. However, there are limited studies that estimate the impact of the proposed study based on the challenges faced by rural migrants in Bihar during the pandemic.Impact of COVID-19 pandemic on rural migrants of Bihar: a cross-sectional study
Sandeep Kumar
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper presents a cross-sectional study that assessed the impact of the COVID-19 pandemic on rural migrants in Bihar. The primary objective of this study was to evaluate the overall impact of the pandemic on migrants and examine their livelihoods, with a focus on identifying measures that can mitigate the economic consequences.

This study used a telephonic survey to collect primary data from 419 respondents. Descriptive statistics were used to analyze the data, and three indices were constructed: fear and worries, trust and prevention.

The findings provide insights into the psychological well-being of migrant workers and highlight the challenges they face in sustaining their livelihoods amidst the pandemic. This study concludes by suggesting potential measures to alleviate the economic impact and enhance the resilience of this vulnerable population.

This study may be limited by the representativeness of the sample as well as the potential for social desirability bias. The study may also be limited by the reliability and validity of the measures used to capture the fear and worries, trust and prevention indices.

Numerous studies have examined the impact of the COVID-19 pandemic on rural migrants. However, there are limited studies that estimate the impact of the proposed study based on the challenges faced by rural migrants in Bihar during the pandemic.

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Impact of COVID-19 pandemic on rural migrants of Bihar: a cross-sectional study10.1108/JEAS-06-2023-0142Journal of Economic and Administrative Sciences2024-02-08© 2024 Emerald Publishing LimitedSandeep KumarJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2024-02-0810.1108/JEAS-06-2023-0142https://www.emerald.com/insight/content/doi/10.1108/JEAS-06-2023-0142/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Quality of work-life: scale construction and validationhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2021-0118/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThere is a compelling need for developing constructs in management science rather than adapting the constructs that have been developed in other domains. Having emerged in the 1950s, quality of work-life (QWL) measures have proved to be ineffective due to the lack of conceptual clarity and theoretical support. The article analyses the QWL measures highlights their coherence and verifies them for being used in specific contexts. The study includes three stages to develop a QWL Measurement Scale. Fourteen questions were developed based on QWL concepts. They were validated using exploratory factor analysis (EFA) which split the dimensions into five factors. A survey was conducted on 375 medical residents. Finally, confirmatory factor analysis (CFA), convergence and validity were tested along the five dimensions. Results extend the QWL concept and provide theoretical support for the same. Five dimensions were developed to measure QWL namely: pay and benefits, supervision, intra-group relations, working conditions and training. The study may offer an overview of evaluation strategies to researchers and organizations that aim to improve employee QWL while they enhance its effectiveness through reliable instruments. The scale developed in this study contributes to the body of QWL literature in the healthcare arena. It may be beneficial to carry out further research in this domain.Quality of work-life: scale construction and validation
Sumbul Zaman, Amirul Hasan Ansari
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

There is a compelling need for developing constructs in management science rather than adapting the constructs that have been developed in other domains. Having emerged in the 1950s, quality of work-life (QWL) measures have proved to be ineffective due to the lack of conceptual clarity and theoretical support. The article analyses the QWL measures highlights their coherence and verifies them for being used in specific contexts.

The study includes three stages to develop a QWL Measurement Scale. Fourteen questions were developed based on QWL concepts. They were validated using exploratory factor analysis (EFA) which split the dimensions into five factors. A survey was conducted on 375 medical residents. Finally, confirmatory factor analysis (CFA), convergence and validity were tested along the five dimensions.

Results extend the QWL concept and provide theoretical support for the same. Five dimensions were developed to measure QWL namely: pay and benefits, supervision, intra-group relations, working conditions and training.

The study may offer an overview of evaluation strategies to researchers and organizations that aim to improve employee QWL while they enhance its effectiveness through reliable instruments.

The scale developed in this study contributes to the body of QWL literature in the healthcare arena. It may be beneficial to carry out further research in this domain.

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Quality of work-life: scale construction and validation10.1108/JEAS-07-2021-0118Journal of Economic and Administrative Sciences2022-03-10© 2022 Emerald Publishing LimitedSumbul ZamanAmirul Hasan AnsariJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-03-1010.1108/JEAS-07-2021-0118https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2021-0118/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Vulnerable employment and economic growthhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2021-0123/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe reality with many developing countries is that the countries have failed to create enough jobs for the poor and vulnerable. Under such circumstances, vulnerable employment plays a critical role in providing earning opportunities to people who are unemployed and determining the economic and social progress of such economies. The study aims to examine the possible non-linear relationship between vulnerable employment and growth in light of this background. The study employed five-yearly averaged data of 73 developing countries for the period 2000–2019. The empirical analysis is performed using the dynamic panel data analysis and the two-step system generalised method of moments (GMM) approach. The estimations are run separately for male, female and total vulnerable employment. The threshold levels are obtained using Sasabuchi (1980) and Lind and Mehlum (2010) (SLM) test. Several sensitivity checks are performed to validate the results. The findings of the study suggest a non-linear U-shaped relationship between vulnerable employment and growth. Thus, a positive association between vulnerable employment and growth is witnessed at higher levels of vulnerable employment. At lower levels, the relationship is negative. Threshold levels for male, female and total vulnerable employment are 46.80%, 49.29 and 50.94%, respectively. Therefore, vulnerable employment beyond the threshold levels is found to be positively associated with growth. Countries below the threshold level of vulnerable employment should understand why these workers are not able to contribute to the growth despite working so hard. If any socio-economic barriers hinder their contribution towards growth, such barriers require greater policy attention. Countries with vulnerable employment levels above the threshold level should recognise the contributions of these workers towards the growth and actively support them in increasing their economic contribution. In either case, given the precarious circumstances under which these workers work and the pittance earnings, policy interventions aimed at ensuring decent working conditions and better earnings for these workers are encouraged. The current study is the first one to examine the relationship between vulnerable employment and growth to the best of the author's knowledge. As such, it makes novel contributions to the literature on development policy.Vulnerable employment and economic growth
Sridevi Yerrabati
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The reality with many developing countries is that the countries have failed to create enough jobs for the poor and vulnerable. Under such circumstances, vulnerable employment plays a critical role in providing earning opportunities to people who are unemployed and determining the economic and social progress of such economies. The study aims to examine the possible non-linear relationship between vulnerable employment and growth in light of this background.

The study employed five-yearly averaged data of 73 developing countries for the period 2000–2019. The empirical analysis is performed using the dynamic panel data analysis and the two-step system generalised method of moments (GMM) approach. The estimations are run separately for male, female and total vulnerable employment. The threshold levels are obtained using Sasabuchi (1980) and Lind and Mehlum (2010) (SLM) test. Several sensitivity checks are performed to validate the results.

The findings of the study suggest a non-linear U-shaped relationship between vulnerable employment and growth. Thus, a positive association between vulnerable employment and growth is witnessed at higher levels of vulnerable employment. At lower levels, the relationship is negative. Threshold levels for male, female and total vulnerable employment are 46.80%, 49.29 and 50.94%, respectively. Therefore, vulnerable employment beyond the threshold levels is found to be positively associated with growth.

Countries below the threshold level of vulnerable employment should understand why these workers are not able to contribute to the growth despite working so hard. If any socio-economic barriers hinder their contribution towards growth, such barriers require greater policy attention. Countries with vulnerable employment levels above the threshold level should recognise the contributions of these workers towards the growth and actively support them in increasing their economic contribution. In either case, given the precarious circumstances under which these workers work and the pittance earnings, policy interventions aimed at ensuring decent working conditions and better earnings for these workers are encouraged.

The current study is the first one to examine the relationship between vulnerable employment and growth to the best of the author's knowledge. As such, it makes novel contributions to the literature on development policy.

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Vulnerable employment and economic growth10.1108/JEAS-07-2021-0123Journal of Economic and Administrative Sciences2022-02-01© 2022 Emerald Publishing LimitedSridevi YerrabatiJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-02-0110.1108/JEAS-07-2021-0123https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2021-0123/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Socioeconomic analysis of infectious diseases based on different scenarios using uncertain SEIAR system dynamics with effective subsystems and ANFIShttps://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2021-0124/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to analyze the socioeconomic impacts of infectious diseases based on uncertain behaviors of social and effective subsystems in the countries. The economic impacts of infectious diseases in comparison with predicted gross domestic product (GDP) in future years could be beneficial for this aim along with predicted social impacts of infectious diseases in countries. The proposed uncertain SEIAR (susceptible, exposed, infectious, asymptomatic and removed) model evaluates the impacts of variables on different trends using scenario base analysis. This model considers different subsystems including healthcare systems, transportation, contacts and capacities of food and pharmaceutical networks for sensitivity analysis. Besides, an adaptive neuro-fuzzy inference system (ANFIS) is designed to predict the GDP of countries and determine the economic impacts of infectious diseases. These proposed models can predict the future socioeconomic trends of infectious diseases in each country based on the available information to guide the decisions of government planners and policymakers. The proposed uncertain SEIAR model predicts social impacts according to uncertain parameters and different coefficients appropriate to the scenarios. It analyzes the sensitivity and the effects of various parameters. A case study is designed in this paper about COVID-19 in a country. Its results show that the effect of transportation on COVID-19 is most sensitive and the contacts have a significant effect on infection. Besides, the future annual costs of COVID-19 are evaluated in different situations. Private transportation, contact behaviors and public transportation have significant impacts on infection, especially in the determined case study, due to its circumstance. Therefore, it is necessary to consider changes in society using flexible behaviors and laws based on the latest status in facing the COVID-19 epidemic. The proposed methods can be applied to conduct infectious diseases impacts analysis. In this paper, a proposed uncertain SEIAR system dynamics model, related sensitivity analysis and ANFIS model are utilized to support different programs regarding policymaking and economic issues to face infectious diseases. The results could support the analysis of sensitivities, policies and economic activities. A new system dynamics model is proposed in this paper based on an uncertain SEIAR model (Susceptible, Exposed, Infectious, Asymptomatic, and Removed) to model population behaviors;Different subsystems including healthcare systems, transportation, contacts, and capacities of food and pharmaceutical networks are defined in the proposed system dynamics model to find related sensitivities;Different scenarios are analyzed using the proposed system dynamics model to predict the effects of policies and related costs. The results guide lawmakers and governments' actions for future years;An adaptive neuro-fuzzy inference system (ANFIS) is designed to estimate the gross domestic product (GDP) in future years and analyze effects of COVID-19 based on them;A real case study is considered to evaluate the performances of the proposed models.Socioeconomic analysis of infectious diseases based on different scenarios using uncertain SEIAR system dynamics with effective subsystems and ANFIS
Zeinab Rahimi Rise, Mohammad Mahdi Ershadi
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to analyze the socioeconomic impacts of infectious diseases based on uncertain behaviors of social and effective subsystems in the countries. The economic impacts of infectious diseases in comparison with predicted gross domestic product (GDP) in future years could be beneficial for this aim along with predicted social impacts of infectious diseases in countries.

The proposed uncertain SEIAR (susceptible, exposed, infectious, asymptomatic and removed) model evaluates the impacts of variables on different trends using scenario base analysis. This model considers different subsystems including healthcare systems, transportation, contacts and capacities of food and pharmaceutical networks for sensitivity analysis. Besides, an adaptive neuro-fuzzy inference system (ANFIS) is designed to predict the GDP of countries and determine the economic impacts of infectious diseases. These proposed models can predict the future socioeconomic trends of infectious diseases in each country based on the available information to guide the decisions of government planners and policymakers.

The proposed uncertain SEIAR model predicts social impacts according to uncertain parameters and different coefficients appropriate to the scenarios. It analyzes the sensitivity and the effects of various parameters. A case study is designed in this paper about COVID-19 in a country. Its results show that the effect of transportation on COVID-19 is most sensitive and the contacts have a significant effect on infection. Besides, the future annual costs of COVID-19 are evaluated in different situations. Private transportation, contact behaviors and public transportation have significant impacts on infection, especially in the determined case study, due to its circumstance. Therefore, it is necessary to consider changes in society using flexible behaviors and laws based on the latest status in facing the COVID-19 epidemic.

The proposed methods can be applied to conduct infectious diseases impacts analysis.

In this paper, a proposed uncertain SEIAR system dynamics model, related sensitivity analysis and ANFIS model are utilized to support different programs regarding policymaking and economic issues to face infectious diseases. The results could support the analysis of sensitivities, policies and economic activities.

  • A new system dynamics model is proposed in this paper based on an uncertain SEIAR model (Susceptible, Exposed, Infectious, Asymptomatic, and Removed) to model population behaviors;

  • Different subsystems including healthcare systems, transportation, contacts, and capacities of food and pharmaceutical networks are defined in the proposed system dynamics model to find related sensitivities;

  • Different scenarios are analyzed using the proposed system dynamics model to predict the effects of policies and related costs. The results guide lawmakers and governments' actions for future years;

  • An adaptive neuro-fuzzy inference system (ANFIS) is designed to estimate the gross domestic product (GDP) in future years and analyze effects of COVID-19 based on them;

  • A real case study is considered to evaluate the performances of the proposed models.

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Socioeconomic analysis of infectious diseases based on different scenarios using uncertain SEIAR system dynamics with effective subsystems and ANFIS10.1108/JEAS-07-2021-0124Journal of Economic and Administrative Sciences2022-01-13© 2021 Emerald Publishing LimitedZeinab Rahimi RiseMohammad Mahdi ErshadiJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-01-1310.1108/JEAS-07-2021-0124https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2021-0124/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2021 Emerald Publishing Limited
MFS usage intention during COVID-19 and beyond: an integration of health belief and expectation confirmation modelhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2021-0133/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe usage rate of mobile financial services (MFS) has shown an uptick since the emergence of the COVID-19 pandemic in Bangladesh. This study aims to reveal the underpinning reasons for such MFS surge and its continuance by integrating health belief model (HBM) and expectation confirmation model (ECM). The study analyzes 529 MFS users' responses during the second wave of the COVID-19 outbreak in Bangladesh using the partial least square method. Satisfaction is more predictive than perceived usefulness in explaining continuance usage intention. Expectation confirmation also indirectly affects continuance intention. Among the HBM constructs, the indirect effect of perceived severity on continuance intention via perceived usefulness and satisfaction is significant. Besides, the impact of self-efficacy on continuance intention is also significant. Moreover, perceived credibility significantly affects satisfaction and indirectly affected continuance usage intention via satisfaction. The study projects boosting customers' satisfaction is critical for the successful retention of existing MFS customers. MFS service providers should emphasize the factors that amplify satisfaction. They must evaluate preadoption factors so that customers can have positive confirmation. Especially, the service providers, the policymakers and the regulators should take an active role in improving the users' self-efficacy and the system's credibility. Undertaking the MFS literacy program, installing hotline service to provide emergency help will boost users' confidence in using the system. The study is a unique contribution in the context of Bangladesh. To the best of the authors’ knowledge, no previous MFS studies in Bangladesh explored MFS continuance usage intention during COVID-19 and beyond. Besides, the inclusion of “perceived credibility” in the framework will supplement the earlier studies conducted on this aspect.MFS usage intention during COVID-19 and beyond: an integration of health belief and expectation confirmation model
Farjana Nur Saima, Md. H. Asibur Rahman, Ratan Ghosh
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The usage rate of mobile financial services (MFS) has shown an uptick since the emergence of the COVID-19 pandemic in Bangladesh. This study aims to reveal the underpinning reasons for such MFS surge and its continuance by integrating health belief model (HBM) and expectation confirmation model (ECM).

The study analyzes 529 MFS users' responses during the second wave of the COVID-19 outbreak in Bangladesh using the partial least square method.

Satisfaction is more predictive than perceived usefulness in explaining continuance usage intention. Expectation confirmation also indirectly affects continuance intention. Among the HBM constructs, the indirect effect of perceived severity on continuance intention via perceived usefulness and satisfaction is significant. Besides, the impact of self-efficacy on continuance intention is also significant. Moreover, perceived credibility significantly affects satisfaction and indirectly affected continuance usage intention via satisfaction.

The study projects boosting customers' satisfaction is critical for the successful retention of existing MFS customers. MFS service providers should emphasize the factors that amplify satisfaction. They must evaluate preadoption factors so that customers can have positive confirmation. Especially, the service providers, the policymakers and the regulators should take an active role in improving the users' self-efficacy and the system's credibility. Undertaking the MFS literacy program, installing hotline service to provide emergency help will boost users' confidence in using the system.

The study is a unique contribution in the context of Bangladesh. To the best of the authors’ knowledge, no previous MFS studies in Bangladesh explored MFS continuance usage intention during COVID-19 and beyond. Besides, the inclusion of “perceived credibility” in the framework will supplement the earlier studies conducted on this aspect.

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MFS usage intention during COVID-19 and beyond: an integration of health belief and expectation confirmation model10.1108/JEAS-07-2021-0133Journal of Economic and Administrative Sciences2022-01-14© 2021 Emerald Publishing LimitedFarjana Nur SaimaMd. H. Asibur RahmanRatan GhoshJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-01-1410.1108/JEAS-07-2021-0133https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2021-0133/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2021 Emerald Publishing Limited
Quality management system in higher education institutions and its impact on students' employability with the mediating effect of industry–academia collaborationhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2021-0135/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestBased on the principles of the human capital theory, this study investigates the role of the quality management system (QMS) in higher education institutions (HEIs) in developing successful employability attributes among graduates. Considering industry as a prominent stakeholder in academia, the authors took industry–academia collaboration as the mediating variable. Using the European Foundation for Quality Management model, the author analyzed how QMS in public HEIs located in London, the United Kingdom (UK), impacts business management, computer science and engineering students' employability. Following the nonprobability convenience sampling technique, this study included data from 324 local and international students. The structural analysis identified QMS as a significant factor in enhancing students' employability, and industry–academia collaboration is found to act as a partial mediator in this relationship. The management of HEIs in developing countries can take valuable guidelines from this study and integrate QMS in their institutions in developing their students' employability, as it is being done by HEIs in the UK.Quality management system in higher education institutions and its impact on students' employability with the mediating effect of industry–academia collaboration
Jawad Abbas, Kalpina Kumari, Waleed Mugahed Al-Rahmi
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Based on the principles of the human capital theory, this study investigates the role of the quality management system (QMS) in higher education institutions (HEIs) in developing successful employability attributes among graduates. Considering industry as a prominent stakeholder in academia, the authors took industry–academia collaboration as the mediating variable.

Using the European Foundation for Quality Management model, the author analyzed how QMS in public HEIs located in London, the United Kingdom (UK), impacts business management, computer science and engineering students' employability. Following the nonprobability convenience sampling technique, this study included data from 324 local and international students.

The structural analysis identified QMS as a significant factor in enhancing students' employability, and industry–academia collaboration is found to act as a partial mediator in this relationship.

The management of HEIs in developing countries can take valuable guidelines from this study and integrate QMS in their institutions in developing their students' employability, as it is being done by HEIs in the UK.

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Quality management system in higher education institutions and its impact on students' employability with the mediating effect of industry–academia collaboration10.1108/JEAS-07-2021-0135Journal of Economic and Administrative Sciences2021-12-29© 2021 Emerald Publishing LimitedJawad AbbasKalpina KumariWaleed Mugahed Al-RahmiJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2021-12-2910.1108/JEAS-07-2021-0135https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2021-0135/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2021 Emerald Publishing Limited
The impact of COVID-19 on financial structure and performance of Islamic banks: a comparative study with conventional banks in the GCC countrieshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2021-0138/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe aim of this paper has twofold: (1) to explain and compare the financial evolution of Islamic and conventional banking sector in the Gulf Cooperative Council (GCC) countries before and during the COVID-19 pandemic and (2) to explore the key success factors that might affect Islamic and conventional banks performance before and mainly during COVID-19 pandemic period. Orbis Bank Focus database and annual financial reports are used to collect financial information of Islamic and conventional banks in GCC countries over four years: 2017, 2018, 2019 and 2020. Descriptive statistics, T-test, multiple regression, and 2SLS and GMM models are employed to analyze the financial structure and performance of Islamic and conventional banks before and during the COVID-19 pandemic period. Results of this study reveal that (1) there is a significant difference between Islamic banks and conventional banks during the crisis of COVID-19, where the conventional banks have presented a higher level of financial performance and financial liquidity than their Islamic counterparts, (2) conventional banks have revealed higher capacity to manage their financial risk during the crisis period, and (3) a high level of non-performing loan, high inflation rate and high percentage of non-important cost have a negative impact on the financial performance of Islamic banks mainly during the pandemic period of COVID-19. However, the result indicates that a high level of liquidity risk increased the performance of Islamic banks but this impact falls sharply during the pandemic period. This study provides information that supports investors, regulators and executive managers in GCC countries. A well-structured balance sheet would improve the financial performance and risk management of the banking sector in GCC countries, especially in times of crisis and pandemics.The impact of COVID-19 on financial structure and performance of Islamic banks: a comparative study with conventional banks in the GCC countries
Hani El-Chaarani, Tariq H. Ismail, Zouhour El-Abiad, Mohamed Samy El-Deeb
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The aim of this paper has twofold: (1) to explain and compare the financial evolution of Islamic and conventional banking sector in the Gulf Cooperative Council (GCC) countries before and during the COVID-19 pandemic and (2) to explore the key success factors that might affect Islamic and conventional banks performance before and mainly during COVID-19 pandemic period.

Orbis Bank Focus database and annual financial reports are used to collect financial information of Islamic and conventional banks in GCC countries over four years: 2017, 2018, 2019 and 2020. Descriptive statistics, T-test, multiple regression, and 2SLS and GMM models are employed to analyze the financial structure and performance of Islamic and conventional banks before and during the COVID-19 pandemic period.

Results of this study reveal that (1) there is a significant difference between Islamic banks and conventional banks during the crisis of COVID-19, where the conventional banks have presented a higher level of financial performance and financial liquidity than their Islamic counterparts, (2) conventional banks have revealed higher capacity to manage their financial risk during the crisis period, and (3) a high level of non-performing loan, high inflation rate and high percentage of non-important cost have a negative impact on the financial performance of Islamic banks mainly during the pandemic period of COVID-19. However, the result indicates that a high level of liquidity risk increased the performance of Islamic banks but this impact falls sharply during the pandemic period.

This study provides information that supports investors, regulators and executive managers in GCC countries. A well-structured balance sheet would improve the financial performance and risk management of the banking sector in GCC countries, especially in times of crisis and pandemics.

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The impact of COVID-19 on financial structure and performance of Islamic banks: a comparative study with conventional banks in the GCC countries10.1108/JEAS-07-2021-0138Journal of Economic and Administrative Sciences2022-02-28© 2022 Emerald Publishing LimitedHani El-ChaaraniTariq H. IsmailZouhour El-AbiadMohamed Samy El-DeebJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-02-2810.1108/JEAS-07-2021-0138https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2021-0138/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Impact of financial development on bank profitabilityhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2021-0140/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper investigates the effect of financial development on bank profitability. The authors examine whether financial development is an important determinant of bank profitability. The ordinary least square and the generalized method of moments regression methods were used to analyze the impact of financial development on the profitability of the Nigerian banking sector. The authors find a significant negative relationship between the financial system deposits to GDP ratio and the non-interest income of Nigerian banks. This indicates that higher financial system deposits to GDP depresses the non-interest income of Nigerian banks. The result implies that the larger the size of the Nigerian financial system, the lower the profitability of banks in Nigeria. Also, the authors observe that bank concentration, nonperforming loans, cost efficiency and the level of inflation are significant determinants of the profitability of Nigerian banks. It is recommended that regulators should establish market-enabling policies that encourage new banks to emerge in the banking industry. The entry of new banks can lead to increase in financial system deposits and credit supply for economic growth. Regulators also need to understand the role of Nigerian banks in promoting financial development and find ways to collaborate with banks towards financial sector development. Another implication of the findings for asset managers is that asset managers will need to take into account the prevailing level of financial development, particularly the size of the financial system, in their asset pricing and investment decisions. This will ensure that investors get value for their investments in Nigeria. The financial implication of the study is that the level of financial development in Nigeria can improve the finance-growth linkages in Nigeria through the efficient allocation of credit and capital to crucial sectors of the Nigerian economy to spur growth in those sectors. Evidence dealing with how financial development affects the profitability of the banking sector in African countries is scarce in the literature, and is completely absent for Nigeria. This paper addresses this research gap.Impact of financial development on bank profitability
Peterson K. Ozili, Honour Ndah
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper investigates the effect of financial development on bank profitability. The authors examine whether financial development is an important determinant of bank profitability.

The ordinary least square and the generalized method of moments regression methods were used to analyze the impact of financial development on the profitability of the Nigerian banking sector.

The authors find a significant negative relationship between the financial system deposits to GDP ratio and the non-interest income of Nigerian banks. This indicates that higher financial system deposits to GDP depresses the non-interest income of Nigerian banks. The result implies that the larger the size of the Nigerian financial system, the lower the profitability of banks in Nigeria. Also, the authors observe that bank concentration, nonperforming loans, cost efficiency and the level of inflation are significant determinants of the profitability of Nigerian banks.

It is recommended that regulators should establish market-enabling policies that encourage new banks to emerge in the banking industry. The entry of new banks can lead to increase in financial system deposits and credit supply for economic growth. Regulators also need to understand the role of Nigerian banks in promoting financial development and find ways to collaborate with banks towards financial sector development. Another implication of the findings for asset managers is that asset managers will need to take into account the prevailing level of financial development, particularly the size of the financial system, in their asset pricing and investment decisions. This will ensure that investors get value for their investments in Nigeria. The financial implication of the study is that the level of financial development in Nigeria can improve the finance-growth linkages in Nigeria through the efficient allocation of credit and capital to crucial sectors of the Nigerian economy to spur growth in those sectors.

Evidence dealing with how financial development affects the profitability of the banking sector in African countries is scarce in the literature, and is completely absent for Nigeria. This paper addresses this research gap.

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Impact of financial development on bank profitability10.1108/JEAS-07-2021-0140Journal of Economic and Administrative Sciences2021-12-31© 2021 Emerald Publishing LimitedPeterson K. OziliHonour NdahJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2021-12-3110.1108/JEAS-07-2021-0140https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2021-0140/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2021 Emerald Publishing Limited
Impact of monetary policy rate on commercial banks' lending rate: empirical evidence from Ghanahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2021-0141/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper seeks to examine the effect of monetary policy rate (MPR) on the lending rates of commercial banks in Ghana. The paper employed the autoregressive distributed lag (ARDL) model as well as the non-linear autoregressive distributed lag (NARDL) model econometric techniques on a quarterly time series data from 2002 to 2018. The ARDL results revealed that, MPR has a positive and significant effect on lending rate in the long and short run. Although there exists a direct relationship between MPR and lending rate, from the NARDL revealed an asymmetric effect of MPR on lending rate to the effect that, lending rate in Ghana responds more to positive shock (a rise in MPR) compared to a negative shock (a decrease in MPR) both in the long and short run. The paper contributes to policy and literature in Ghana by providing empirical evidence on the asymmetric effect that MPR has on lending rates in Ghana. The paper recommends among others, the establishment of a rating system of banks according to their monetary policy compliance, where highly rated banks could have for instance a reduction on borrowed reserves from the central bank.Impact of monetary policy rate on commercial banks' lending rate: empirical evidence from Ghana
Kofi Kamasa, Solomon Luther Afful, Isaac Bentum-Ennin
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper seeks to examine the effect of monetary policy rate (MPR) on the lending rates of commercial banks in Ghana.

The paper employed the autoregressive distributed lag (ARDL) model as well as the non-linear autoregressive distributed lag (NARDL) model econometric techniques on a quarterly time series data from 2002 to 2018.

The ARDL results revealed that, MPR has a positive and significant effect on lending rate in the long and short run. Although there exists a direct relationship between MPR and lending rate, from the NARDL revealed an asymmetric effect of MPR on lending rate to the effect that, lending rate in Ghana responds more to positive shock (a rise in MPR) compared to a negative shock (a decrease in MPR) both in the long and short run.

The paper contributes to policy and literature in Ghana by providing empirical evidence on the asymmetric effect that MPR has on lending rates in Ghana. The paper recommends among others, the establishment of a rating system of banks according to their monetary policy compliance, where highly rated banks could have for instance a reduction on borrowed reserves from the central bank.

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Impact of monetary policy rate on commercial banks' lending rate: empirical evidence from Ghana10.1108/JEAS-07-2021-0141Journal of Economic and Administrative Sciences2023-04-03© 2023 Emerald Publishing LimitedKofi KamasaSolomon Luther AffulIsaac Bentum-EnninJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-04-0310.1108/JEAS-07-2021-0141https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2021-0141/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Connection between corporate diversification, CSR and firm performance in South Asiahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2022-0164/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe manufacturing sector plays an important role in any economy. The sector opts for diversification techniques and CSR initiatives in a competitive business environment for growth, survival and reputation. This study examined the impact of corporate diversification and CSR on the financial performance of South Asian manufacturing firms. Data is obtained from the financial statements of 350 listed South Asian manufacturing firms as well as the respective stock exchanges of these countries. The data for research analysis ranges from 2010 to 2020. Diversification is measured using product diversification and geographic diversification. CSR is quantified in terms of social contribution value. Accounting measurements (ROA and ROE) are also used to capture corporate performance. For hypothesis testing, the study also uses fixed effect panel regression, and for assessing the robustness of the findings, the two-step dynamic panel system-GMM regression approach is used. Findings of study indicate a positive impact of product and geographic diversification on financial performance measured with ROA. However, geographic diversification is insignificantly linked with ROA and ROE. Further, CSR positively impacts the performance of firms in South Asia with both performance measures. The study has several policy implications based on the findings, including the need for the manufacturing sector to practice and implement appropriate diversification approaches and CSR initiatives to improve its financial performance and reputation.Connection between corporate diversification, CSR and firm performance in South Asia
Ruba Khalid Shira
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The manufacturing sector plays an important role in any economy. The sector opts for diversification techniques and CSR initiatives in a competitive business environment for growth, survival and reputation. This study examined the impact of corporate diversification and CSR on the financial performance of South Asian manufacturing firms.

Data is obtained from the financial statements of 350 listed South Asian manufacturing firms as well as the respective stock exchanges of these countries. The data for research analysis ranges from 2010 to 2020. Diversification is measured using product diversification and geographic diversification. CSR is quantified in terms of social contribution value. Accounting measurements (ROA and ROE) are also used to capture corporate performance. For hypothesis testing, the study also uses fixed effect panel regression, and for assessing the robustness of the findings, the two-step dynamic panel system-GMM regression approach is used.

Findings of study indicate a positive impact of product and geographic diversification on financial performance measured with ROA. However, geographic diversification is insignificantly linked with ROA and ROE. Further, CSR positively impacts the performance of firms in South Asia with both performance measures.

The study has several policy implications based on the findings, including the need for the manufacturing sector to practice and implement appropriate diversification approaches and CSR initiatives to improve its financial performance and reputation.

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Connection between corporate diversification, CSR and firm performance in South Asia10.1108/JEAS-07-2022-0164Journal of Economic and Administrative Sciences2023-05-23© 2023 Emerald Publishing LimitedRuba Khalid ShiraJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-05-2310.1108/JEAS-07-2022-0164https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2022-0164/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Psychological and demographic predictors of investment in cryptocurrencies during a crisis in the MENA region: the case of Lebanonhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2022-0165/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this study is to discover the motivating factors for cryptocurrency investment during an economic crisis in the MENA region, with reference to the economic crisis of 2019–2022, in Lebanon. The authors used t-test, and logistic regressions on a sample of 254 Lebanese investors to differentiate between cryptocurrency investors, and non-investors. Linear regressions of a subsample of cryptocurrency investors determined the factors that explained increasing cash investment in cryptocurrencies. Data were collected from investors in Lebanon, which could limit the generalization of the research results across the MENA region. Investors differed from non-investors in that they were male, owned investments in the stock, bond and commodity markets, had prior investment experience in cryptocurrencies, were risk-takers and had expectations of high returns. Investors increased the dollar investment in cryptocurrencies, if they were male, as they invested more funds in securities, had previously invested in cryptocurrencies and had stronger risk-taking propensity. Expectations of high returns drove investors to cryptocurrencies, but such expectations do not stimulate further cryptocurrency investment. This study is an initial attempt to comprehend the reactions of investors in the MENA region to a currency crisis that triggered investment in cryptocurrencies following the collapse of fiat currencies, central bank default and restrictions on bank withdrawals.Psychological and demographic predictors of investment in cryptocurrencies during a crisis in the MENA region: the case of Lebanon
Hani El-Chaarani, Jeanne Laure Mawad, Nouhad Mawad, Danielle Khalife
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this study is to discover the motivating factors for cryptocurrency investment during an economic crisis in the MENA region, with reference to the economic crisis of 2019–2022, in Lebanon.

The authors used t-test, and logistic regressions on a sample of 254 Lebanese investors to differentiate between cryptocurrency investors, and non-investors. Linear regressions of a subsample of cryptocurrency investors determined the factors that explained increasing cash investment in cryptocurrencies. Data were collected from investors in Lebanon, which could limit the generalization of the research results across the MENA region.

Investors differed from non-investors in that they were male, owned investments in the stock, bond and commodity markets, had prior investment experience in cryptocurrencies, were risk-takers and had expectations of high returns. Investors increased the dollar investment in cryptocurrencies, if they were male, as they invested more funds in securities, had previously invested in cryptocurrencies and had stronger risk-taking propensity. Expectations of high returns drove investors to cryptocurrencies, but such expectations do not stimulate further cryptocurrency investment.

This study is an initial attempt to comprehend the reactions of investors in the MENA region to a currency crisis that triggered investment in cryptocurrencies following the collapse of fiat currencies, central bank default and restrictions on bank withdrawals.

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Psychological and demographic predictors of investment in cryptocurrencies during a crisis in the MENA region: the case of Lebanon10.1108/JEAS-07-2022-0165Journal of Economic and Administrative Sciences2023-05-30© 2023 Emerald Publishing LimitedHani El-ChaaraniJeanne Laure MawadNouhad MawadDanielle KhalifeJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-05-3010.1108/JEAS-07-2022-0165https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2022-0165/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Bank stability and digitalisation: empirical evidence from selected Indian bankshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2022-0172/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestIndia’s efforts to achieve large-scale financial inclusion are challenged by growing concerns related to the stability and profitability of the overall banking system. Although a rising dependence on digital finance and the acceptability of wallet-based payments was also visible during the post-demonetisation era and the coronavirus disease 2019 (Covid-19) pandemic, issues related to bank stability and profitability could be addressed through the extension of digital financial services (DFS), making the system more transparent and resilient to internal as well as external perturbations. The study provides empirical evidence to support the bank digitalisation and extension of DFS to achieve financial inclusion. The impact of digital finance, macroeconomic aspects and microprudential factors (bank specific) on stability is examined for selected Indian banks using quarterly observations spanning 2011Q1–2020Q4. The relationship between banking stability (measured through z-score and Sharpe ratio) is established with digitalisation factors using the instrumental variable regression two-stage least square -based panel regression. Robustness is tested using panel vector autoregression models. Digital transactions including mobile banking, National Electronic Fund Transfer (NEFT) and Real Time Gross Settlement (RTGS) prove vital and significant in establishing stable banking activity in the Indian context across both public and private banking institutions. Access to broadband services provides a positive impetus in this direction. These issues could be addressed through the extension of DFS making the system more transparent and resilient to internal as well as external perturbations. As an implication, the adoption of innovative means of transaction could empower the financially excluded sections of society. The novelty of this study is to bring the discussion of digitalisation and bank stability (riskiness) in the Indian context to light. As the first of its kind, this study paves the way for providing an empirical justification for promoting and achieving bank stability through digitalisation in the era of post-demonetisation and Covid-19.Bank stability and digitalisation: empirical evidence from selected Indian banks
Vaibhav Puri, Gurleen Kaur, Jappanjyot Kaur Kalra, Kawal Gill
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

India’s efforts to achieve large-scale financial inclusion are challenged by growing concerns related to the stability and profitability of the overall banking system. Although a rising dependence on digital finance and the acceptability of wallet-based payments was also visible during the post-demonetisation era and the coronavirus disease 2019 (Covid-19) pandemic, issues related to bank stability and profitability could be addressed through the extension of digital financial services (DFS), making the system more transparent and resilient to internal as well as external perturbations.

The study provides empirical evidence to support the bank digitalisation and extension of DFS to achieve financial inclusion. The impact of digital finance, macroeconomic aspects and microprudential factors (bank specific) on stability is examined for selected Indian banks using quarterly observations spanning 2011Q1–2020Q4. The relationship between banking stability (measured through z-score and Sharpe ratio) is established with digitalisation factors using the instrumental variable regression two-stage least square -based panel regression. Robustness is tested using panel vector autoregression models.

Digital transactions including mobile banking, National Electronic Fund Transfer (NEFT) and Real Time Gross Settlement (RTGS) prove vital and significant in establishing stable banking activity in the Indian context across both public and private banking institutions. Access to broadband services provides a positive impetus in this direction. These issues could be addressed through the extension of DFS making the system more transparent and resilient to internal as well as external perturbations. As an implication, the adoption of innovative means of transaction could empower the financially excluded sections of society.

The novelty of this study is to bring the discussion of digitalisation and bank stability (riskiness) in the Indian context to light. As the first of its kind, this study paves the way for providing an empirical justification for promoting and achieving bank stability through digitalisation in the era of post-demonetisation and Covid-19.

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Bank stability and digitalisation: empirical evidence from selected Indian banks10.1108/JEAS-07-2022-0172Journal of Economic and Administrative Sciences2023-07-26© 2023 Emerald Publishing LimitedVaibhav PuriGurleen KaurJappanjyot Kaur KalraKawal GillJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-07-2610.1108/JEAS-07-2022-0172https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2022-0172/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Revenue composition and financial health of nonprofit humanitarian and emergency health serviceshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2022-0174/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestEmergency health and humanitarian nonprofits work under volatile circumstances that strain nonprofits' financial resources. This study investigates the impact of revenue composition on the financial health of these nonprofits and the impact of financial health on the likelihood of financial distress. A sample of 11,335 emergency nonprofits from 2003 to 2020 was obtained through form 990 data and studied through a difference generalized method of moments (GMM) approach for the impact of revenue composition on financial health. The impact of financial health on financial distress was studied through panel logistics regression. Revenue diversification adversely affects the financial health of nonprofit emergency health and humanitarian organizations contrary to the implications of modern portfolio theory. The financial health of nonprofit emergency health and humanitarian organizations is persistent through the significant positive effect of lags in most cases. The emergency health subsector of nonprofits was studied separately due to the unique nature of the sectors' operations and operating environment. The impact of revenue composition was investigated on key dimensions of financial health. Omitted variable bias, simultaneity and dynamic endogeneity were handled through difference GMM.Revenue composition and financial health of nonprofit humanitarian and emergency health services
Syed Tariq, Muhammad Adeel Zaffar, Yasir Riaz, Muhammad Naiman Jalil
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Emergency health and humanitarian nonprofits work under volatile circumstances that strain nonprofits' financial resources. This study investigates the impact of revenue composition on the financial health of these nonprofits and the impact of financial health on the likelihood of financial distress.

A sample of 11,335 emergency nonprofits from 2003 to 2020 was obtained through form 990 data and studied through a difference generalized method of moments (GMM) approach for the impact of revenue composition on financial health. The impact of financial health on financial distress was studied through panel logistics regression.

Revenue diversification adversely affects the financial health of nonprofit emergency health and humanitarian organizations contrary to the implications of modern portfolio theory. The financial health of nonprofit emergency health and humanitarian organizations is persistent through the significant positive effect of lags in most cases.

The emergency health subsector of nonprofits was studied separately due to the unique nature of the sectors' operations and operating environment. The impact of revenue composition was investigated on key dimensions of financial health. Omitted variable bias, simultaneity and dynamic endogeneity were handled through difference GMM.

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Revenue composition and financial health of nonprofit humanitarian and emergency health services10.1108/JEAS-07-2022-0174Journal of Economic and Administrative Sciences2023-02-14© 2023 Emerald Publishing LimitedSyed TariqMuhammad Adeel ZaffarYasir RiazMuhammad Naiman JalilJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-02-1410.1108/JEAS-07-2022-0174https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2022-0174/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Green HRM, organizational identification and sustainable development in the emerging economy: applications from social identity theoryhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2022-0177/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestAs a result, the current study attempted to investigate the impact of green human resource (GHR) practices on long-term performance, and the path has been explained through organizational identification, which is supported by social identity theory. To achieve the present study's primary goal, data were obtained from manufacturing businesses and analyzed using partial least square (Smart PLS) on the data of 284 Pakistani small and medium-sized enterprises (SMEs) registered with the small and medium-sized enterprises development authority (SMEDA). As a result, the findings show that organizational identification explains the indirect relationship between sustainable performance and green human resource management (GHRM). To limit the limited negative effect on the environment and society, the findings provide several suggestions for the government authorities and policymakers to adopt green practices and policies. Green practices are essential for a company to limit its negative environmental effect. Environmental critical problems among shareholders put pressure on the firm to implement GHR practices and organizational identification with long-term success.Green HRM, organizational identification and sustainable development in the emerging economy: applications from social identity theory
Rizwan Ullah Khan, Munir A. Abbasi, Abedallah Farouq Ahmad Farhan, Mohammed Alawi Al-sakkaf, Karpal Singh Dara Singh
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

As a result, the current study attempted to investigate the impact of green human resource (GHR) practices on long-term performance, and the path has been explained through organizational identification, which is supported by social identity theory.

To achieve the present study's primary goal, data were obtained from manufacturing businesses and analyzed using partial least square (Smart PLS) on the data of 284 Pakistani small and medium-sized enterprises (SMEs) registered with the small and medium-sized enterprises development authority (SMEDA).

As a result, the findings show that organizational identification explains the indirect relationship between sustainable performance and green human resource management (GHRM).

To limit the limited negative effect on the environment and society, the findings provide several suggestions for the government authorities and policymakers to adopt green practices and policies.

Green practices are essential for a company to limit its negative environmental effect. Environmental critical problems among shareholders put pressure on the firm to implement GHR practices and organizational identification with long-term success.

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Green HRM, organizational identification and sustainable development in the emerging economy: applications from social identity theory10.1108/JEAS-07-2022-0177Journal of Economic and Administrative Sciences2023-08-01© 2023 Emerald Publishing LimitedRizwan Ullah KhanMunir A. AbbasiAbedallah Farouq Ahmad FarhanMohammed Alawi Al-sakkafKarpal Singh Dara SinghJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-08-0110.1108/JEAS-07-2022-0177https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2022-0177/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Do agency costs and business risk affect the corporate sustainability–financial performance relationship?https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2023-0172/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe aim of this research is to examine the effect of corporate sustainability performance on financial performance and the role of agency costs and business risk in determining this effect. This study uses the data of 83 non-financial Turkish firms listed on Istanbul Stock Exchange during the period 2014–2021. Two-step system GMM models are applied to examine the study’s hypotheses. The results indicate a positive effect of corporate sustainability performance on financial performance, and that this effect is significant only for firms that are more likely to suffer agency costs of equity, firms with R&D expenditures and firms with lower business risk. The results of this study confirm the importance of regulations introduced by regulators to support the sustainability initiatives for firms that have less ability to access funds required for their investments. In addition, the findings provide important insight into the role of the persistence of corporate sustainability performance in enhancing financial performance through mitigating managers' opportunistic behavior. To the author’s knowledge, this research is one of few that examine the effect of agency costs and business risk on the corporate sustainability–financial performance relationship in emerging markets.Do agency costs and business risk affect the corporate sustainability–financial performance relationship?
Ismail Kalash
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The aim of this research is to examine the effect of corporate sustainability performance on financial performance and the role of agency costs and business risk in determining this effect.

This study uses the data of 83 non-financial Turkish firms listed on Istanbul Stock Exchange during the period 2014–2021. Two-step system GMM models are applied to examine the study’s hypotheses.

The results indicate a positive effect of corporate sustainability performance on financial performance, and that this effect is significant only for firms that are more likely to suffer agency costs of equity, firms with R&D expenditures and firms with lower business risk.

The results of this study confirm the importance of regulations introduced by regulators to support the sustainability initiatives for firms that have less ability to access funds required for their investments. In addition, the findings provide important insight into the role of the persistence of corporate sustainability performance in enhancing financial performance through mitigating managers' opportunistic behavior.

To the author’s knowledge, this research is one of few that examine the effect of agency costs and business risk on the corporate sustainability–financial performance relationship in emerging markets.

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Do agency costs and business risk affect the corporate sustainability–financial performance relationship?10.1108/JEAS-07-2023-0172Journal of Economic and Administrative Sciences2024-01-02© 2023 Emerald Publishing LimitedIsmail KalashJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2024-01-0210.1108/JEAS-07-2023-0172https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2023-0172/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Whether the Chinese provinces have achieved their potential efficiency in economic growth?https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2023-0177/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestMost economic growth is concentrated in the eastern and coastal provinces of China, while the western and central provinces have not yet experienced the expected economic growth. This study aims to address the following crucial research questions: Do the central and western provinces achieved potential efficiency in economic growth? Have China’s provinces used their resources effectively in implementing economic growth strategies? The research design concerns the use of a panel dataset on province-specific economic growth in China over the years to 2000–2020. The methodology used was a stochastic frontier gross domestic product (GDP) model with time-varying technical efficiency over time. The approach uses the existing literature to identify the important variables influencing economic growth at the provincial level to model the stochastic frontier GDP model for empirical analysis. This study concludes that the central provinces show the highest rate of efficiency in economic growth, though not 100%, followed by the Eastern and Western provinces. By increasing and improving skilled education institutes and intensifying supply chain opportunities through foreign direct investment (FDI), the central provinces achieving 100% growth efficiency may not be ruled out. The modes of economic governance and policies to improve GDP growth have been rapidly changing from increasing incentives to improving competition. Thus, more unique avenues and expansion of the horizon for impending research on provincial, national and international macroeconomics would emerge that would make current methodologies of the growth analysis outdated. The empirical analysis highlights the importance of improving skilled education institutes and intensifying supply chain opportunities through FDI for achieving sustained economic growth. The empirical analysis facilitates finding ways to reduce income inequality across provinces in China. To the authors' knowledge empirical analysis examining the Chinese province-specific economic growth efficiency explicitly has not been carried out using the recent Chinese panel dataset.Whether the Chinese provinces have achieved their potential efficiency in economic growth?
Raghuvir Kelkar, Kaliappa Kalirajan
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Most economic growth is concentrated in the eastern and coastal provinces of China, while the western and central provinces have not yet experienced the expected economic growth. This study aims to address the following crucial research questions: Do the central and western provinces achieved potential efficiency in economic growth? Have China’s provinces used their resources effectively in implementing economic growth strategies?

The research design concerns the use of a panel dataset on province-specific economic growth in China over the years to 2000–2020. The methodology used was a stochastic frontier gross domestic product (GDP) model with time-varying technical efficiency over time. The approach uses the existing literature to identify the important variables influencing economic growth at the provincial level to model the stochastic frontier GDP model for empirical analysis.

This study concludes that the central provinces show the highest rate of efficiency in economic growth, though not 100%, followed by the Eastern and Western provinces. By increasing and improving skilled education institutes and intensifying supply chain opportunities through foreign direct investment (FDI), the central provinces achieving 100% growth efficiency may not be ruled out.

The modes of economic governance and policies to improve GDP growth have been rapidly changing from increasing incentives to improving competition. Thus, more unique avenues and expansion of the horizon for impending research on provincial, national and international macroeconomics would emerge that would make current methodologies of the growth analysis outdated.

The empirical analysis highlights the importance of improving skilled education institutes and intensifying supply chain opportunities through FDI for achieving sustained economic growth.

The empirical analysis facilitates finding ways to reduce income inequality across provinces in China.

To the authors' knowledge empirical analysis examining the Chinese province-specific economic growth efficiency explicitly has not been carried out using the recent Chinese panel dataset.

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Whether the Chinese provinces have achieved their potential efficiency in economic growth?10.1108/JEAS-07-2023-0177Journal of Economic and Administrative Sciences2024-01-19© 2023 Emerald Publishing LimitedRaghuvir KelkarKaliappa KalirajanJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2024-01-1910.1108/JEAS-07-2023-0177https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2023-0177/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Performance and returns volatility of banks in India: public versus private sectorhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2023-0181/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis current study draws a comparison between the performance indicators of public sector banks (PSBs) and private sector banks (or non-PSBs) in India. The study controls for the impact of COVID-19. The study uses strongly balanced panel data for seven years of 12 PSBs and 10 non-PSBs from the Nifty PSU Bank Index and Nifty Private Bank Index. The study applies panel data methodology to arrive at the results. The study demonstrates that the behavior of indicators of performance and returns volatility for PSBs and non-PSBs differs substantially. While factors like capital adequacy ratio (CAR), cost management (COST), liquidity (LIQ), inflation and economic growth exhibit a similar impact on both categories of Indian banks, the effect of credit risk (RISK), market power (POWER) and COVID-19 on performance and returns stability is different for PSBs and non-PSBs. There is a limited sample size of banks in India. PSBs and non-PSBs need distinct treatments when calibrating performance indicators. The performance and stability of banks are essential for society at large, the depositors and the investors. The study provides vibrant implications for insight for banks to calibrate the variables that determine performance and stability, regulators and policymakers for effective governance of the banking ecosystem and effective utilization of public funds and capital. The findings are relevant for policymaking today, when the government is considering the privatization of a few PSBs.Performance and returns volatility of banks in India: public versus private sector
Kuldeep Singh
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This current study draws a comparison between the performance indicators of public sector banks (PSBs) and private sector banks (or non-PSBs) in India. The study controls for the impact of COVID-19.

The study uses strongly balanced panel data for seven years of 12 PSBs and 10 non-PSBs from the Nifty PSU Bank Index and Nifty Private Bank Index. The study applies panel data methodology to arrive at the results.

The study demonstrates that the behavior of indicators of performance and returns volatility for PSBs and non-PSBs differs substantially. While factors like capital adequacy ratio (CAR), cost management (COST), liquidity (LIQ), inflation and economic growth exhibit a similar impact on both categories of Indian banks, the effect of credit risk (RISK), market power (POWER) and COVID-19 on performance and returns stability is different for PSBs and non-PSBs.

There is a limited sample size of banks in India.

PSBs and non-PSBs need distinct treatments when calibrating performance indicators.

The performance and stability of banks are essential for society at large, the depositors and the investors.

The study provides vibrant implications for insight for banks to calibrate the variables that determine performance and stability, regulators and policymakers for effective governance of the banking ecosystem and effective utilization of public funds and capital. The findings are relevant for policymaking today, when the government is considering the privatization of a few PSBs.

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Performance and returns volatility of banks in India: public versus private sector10.1108/JEAS-07-2023-0181Journal of Economic and Administrative Sciences2024-02-19© 2024 Emerald Publishing LimitedKuldeep SinghJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2024-02-1910.1108/JEAS-07-2023-0181https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2023-0181/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Bond market development and economic growth nexus in developing countries: a GMM approachhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2023-0183/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study examines the nexus of bond market development and economic growth from 2015 to 2022. The system-generalized method of moments (GMM) is employed on economic growth, government market capitalization, corporate market capitalization, bond yield, interest rate spread, trade openness and investment level. The findings show that the government bond market, corporate bond capitalization and bond yield positively impact the gross domestic product (GDP). The results equally reveal a causal link between the corporate bond market, bond yield and GDP. Governments should emphasize creating, developing and sustaining bond markets in the economies of developing countries to boost economic activity by promoting structural transformation. Policymakers should improve the implementation of existing rules and regulations while complementing them with new ones since well-developed bond markets provide alternative sources of financing that make economies financially resilient. Policymakers should encourage the issuance of corporate bonds to enhance the efficiency of the capital markets and mobilize funds for economic growth stimulation. Governments and corporations should diversify their sources of funding into the bond markets since the bond yields are favorable to economic growth. Earlier studies presented arguable results on the bond market development and economic growth nexus. Several findings indicate a positive link; others give a negative link between bond market development and economic growth. Some show causal directions, while other reveal none. The contradictory results motivate research. This research results contribute to the literature in that the government bond market, corporate bond capitalization and bond yield positively impact the GDP of developing nations.Bond market development and economic growth nexus in developing countries: a GMM approach
Charles Ogechukwu Ugbam, Chi Aloysius Ngong, Ishaku Prince Abner, Godwin Imo Ibe
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study examines the nexus of bond market development and economic growth from 2015 to 2022.

The system-generalized method of moments (GMM) is employed on economic growth, government market capitalization, corporate market capitalization, bond yield, interest rate spread, trade openness and investment level.

The findings show that the government bond market, corporate bond capitalization and bond yield positively impact the gross domestic product (GDP). The results equally reveal a causal link between the corporate bond market, bond yield and GDP.

Governments should emphasize creating, developing and sustaining bond markets in the economies of developing countries to boost economic activity by promoting structural transformation. Policymakers should improve the implementation of existing rules and regulations while complementing them with new ones since well-developed bond markets provide alternative sources of financing that make economies financially resilient. Policymakers should encourage the issuance of corporate bonds to enhance the efficiency of the capital markets and mobilize funds for economic growth stimulation. Governments and corporations should diversify their sources of funding into the bond markets since the bond yields are favorable to economic growth.

Earlier studies presented arguable results on the bond market development and economic growth nexus. Several findings indicate a positive link; others give a negative link between bond market development and economic growth. Some show causal directions, while other reveal none. The contradictory results motivate research. This research results contribute to the literature in that the government bond market, corporate bond capitalization and bond yield positively impact the GDP of developing nations.

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Bond market development and economic growth nexus in developing countries: a GMM approach10.1108/JEAS-07-2023-0183Journal of Economic and Administrative Sciences2023-12-29© 2023 Emerald Publishing LimitedCharles Ogechukwu UgbamChi Aloysius NgongIshaku Prince AbnerGodwin Imo IbeJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-12-2910.1108/JEAS-07-2023-0183https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2023-0183/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Analysing volatility patterns in emerging markets: symmetric or asymmetric models?https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2023-0186/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestInvestors aim for returns when investing in stocks, making return volatility a crucial concern. This study compares symmetric and asymmetric GARCH models to forecast volatility in emerging nations like the G4 countries. Accurate volatility forecasting is vital for investors to make well-informed investment decisions, forming the core purpose of this study. From January 1993 to May 2021, the study spans four periods, focusing on the global economic crisis of 2008, the Russian crisis of 2015 and the COVID-19 pandemic. Standard generalized autoregressive conditional heteroscedasticity (GARCH), exponential GARCH (E-GARCH) and Glosten-Jagannathan-Runkle GARCH models were employed to analyse the data. Robustness was assessed using the Akaike information criterion, Schwarz information criterion and maximum log-likelihood criteria. The study's findings show that the E-GARCH model is the best model for forecasting volatility in emerging nations. This is because the E-GARCH model is able to capture the asymmetric effects of positive and negative shocks on volatility. This unique study compares symmetric and asymmetric GARCH models for forecasting volatility in emerging nations, a novel approach not explored in prior research. The insights gained can aid investors in constructing more effective risk-adjusted international portfolios, offering a better understanding of stock market volatility to inform strategic investment decisions.Analysing volatility patterns in emerging markets: symmetric or asymmetric models?
Himani Gupta
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Investors aim for returns when investing in stocks, making return volatility a crucial concern. This study compares symmetric and asymmetric GARCH models to forecast volatility in emerging nations like the G4 countries. Accurate volatility forecasting is vital for investors to make well-informed investment decisions, forming the core purpose of this study.

From January 1993 to May 2021, the study spans four periods, focusing on the global economic crisis of 2008, the Russian crisis of 2015 and the COVID-19 pandemic. Standard generalized autoregressive conditional heteroscedasticity (GARCH), exponential GARCH (E-GARCH) and Glosten-Jagannathan-Runkle GARCH models were employed to analyse the data. Robustness was assessed using the Akaike information criterion, Schwarz information criterion and maximum log-likelihood criteria.

The study's findings show that the E-GARCH model is the best model for forecasting volatility in emerging nations. This is because the E-GARCH model is able to capture the asymmetric effects of positive and negative shocks on volatility.

This unique study compares symmetric and asymmetric GARCH models for forecasting volatility in emerging nations, a novel approach not explored in prior research. The insights gained can aid investors in constructing more effective risk-adjusted international portfolios, offering a better understanding of stock market volatility to inform strategic investment decisions.

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Analysing volatility patterns in emerging markets: symmetric or asymmetric models?10.1108/JEAS-07-2023-0186Journal of Economic and Administrative Sciences2023-12-25© 2023 Emerald Publishing LimitedHimani GuptaJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-12-2510.1108/JEAS-07-2023-0186https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2023-0186/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Foreign agricultural investment and sustainable development in India: a granger causality analyseshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2023-0197/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe study aims to find the synchronization between foreign agriculture investment (FAI) and Sustainable Development Goals (SDGs) related to agriculture as classified by the Food and Agriculture Organization (FAO). The study tries to find such an association in India over 2 decades from 2001. The Toda-Yamamoto Granger using the M-Wald test for the non-causality procedure is applied to find the synchronization. Stationarity is tested using the Augmented Dickey-Fuller, Phillips-Perron and Kwiatkowski, Phillips, Schmidt and Shin (KPSS) tests. The Johanson methodology with MacKinnon-Haug-Michelis P-value is employed for the Cointegration test. The empirical results indicate that the FAI Granger cause SDG2 “Zero hunger” and “Overall sustainability”, but SDG13 “Climate Change”, SDG6 “Clean water and sanitation”, SDG12 “Responsible production and consumption” and SDG15 “Life on Land” granger cause global investments. Notwithstanding, SDG5 “Gender equality” and SDG14 “Life below water” found no-way causality with FAI. Host governments should prioritize sector-level sustainable development, notably agricultural SDGs, to attract global investments. Foreign agriculture investment is influenced differently by various SDGs; thus, policymakers should concentrate on specific agricultural SDGs to enhance the flow of capital into the agriculture sector. Global investors should take sustainability into account while framing foreign investment plans, and the supra-national organization may consider global agricultural investments while addressing the problems related to global food security. The distinguishing feature of the study is that SDGs classified by the FAO from a global investment perspective have not been studied so far.Foreign agricultural investment and sustainable development in India: a granger causality analyses
Mohd Nadeem Bhat, Mohd Hammad Naeem
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The study aims to find the synchronization between foreign agriculture investment (FAI) and Sustainable Development Goals (SDGs) related to agriculture as classified by the Food and Agriculture Organization (FAO). The study tries to find such an association in India over 2 decades from 2001.

The Toda-Yamamoto Granger using the M-Wald test for the non-causality procedure is applied to find the synchronization. Stationarity is tested using the Augmented Dickey-Fuller, Phillips-Perron and Kwiatkowski, Phillips, Schmidt and Shin (KPSS) tests. The Johanson methodology with MacKinnon-Haug-Michelis P-value is employed for the Cointegration test.

The empirical results indicate that the FAI Granger cause SDG2 “Zero hunger” and “Overall sustainability”, but SDG13 “Climate Change”, SDG6 “Clean water and sanitation”, SDG12 “Responsible production and consumption” and SDG15 “Life on Land” granger cause global investments. Notwithstanding, SDG5 “Gender equality” and SDG14 “Life below water” found no-way causality with FAI.

Host governments should prioritize sector-level sustainable development, notably agricultural SDGs, to attract global investments. Foreign agriculture investment is influenced differently by various SDGs; thus, policymakers should concentrate on specific agricultural SDGs to enhance the flow of capital into the agriculture sector. Global investors should take sustainability into account while framing foreign investment plans, and the supra-national organization may consider global agricultural investments while addressing the problems related to global food security.

The distinguishing feature of the study is that SDGs classified by the FAO from a global investment perspective have not been studied so far.

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Foreign agricultural investment and sustainable development in India: a granger causality analyses10.1108/JEAS-07-2023-0197Journal of Economic and Administrative Sciences2023-12-14© 2023 Emerald Publishing LimitedMohd Nadeem BhatMohd Hammad NaeemJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-12-1410.1108/JEAS-07-2023-0197https://www.emerald.com/insight/content/doi/10.1108/JEAS-07-2023-0197/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Relationship of brand credibility and brand loyalty: the mediating effects of attitude toward brandhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0142/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestCurrent research addresses the issue of brand loyalty while identifying its potential predictors. The research also examines the direct impact of brand credibility on brand loyalty and attitude toward brand and the direct impact of attitude toward brand and on brand loyalty respectively. Moreover, this research examines the mediating effect of attitude toward brand for the relationship of brand credibility and brand loyalty. This is a cross-sectional research. Data is collected with the help of structured questionnaire. Simple random sampling technique is used for gathering the data from 220 Samsung users from Lahore, Pakistan. Results indicate that brand credibility has a positive influence on attitude toward brand and brand loyalty respectively. Attitude toward brand partially intervenes the relation of brand credibility and brand loyalty. There are some limitations of the current research. It includes only the customers of Samsung mobile. Data is collected from the customers of Lahore, Pakistan, only. This research can also be conducted among the customers of OPPO, Vivo and Apple and compare the results of current research with the results of OPPO, Vivo and Apple, which will provide the useful insights. This kind of research will also be conducted among the customers of other kinds of products like FMCGs, luxury items and even on the organizations of industrial products for generalizability. In future, customers of other cities of Pakistan like Karachi, Multan and Faisalabad may also be included for generalization. This research provides a practical framework for the marketing department of Samsung mobiles and explains how brand credibility shape the brand loyalty through the path of attitude toward Samsung mobiles. So, Samsung mobiles can maintain current policies regarding brand credibility and attitude toward brand for attaining the better level of brand loyalty. Longitudinal research studies on these variables will also be helpful for the marketing department of Samsung for checking the level of propose relationships periodically and comparing it with previous results which will provide the true picture about propose relationships. If the value of propose relationships increases or remains at same level, then Samsung can maintain the current policies about these variables and if the value of these variables decreases, the Samsung will improve the current policies about these variables. This research contributed in theory of reasoned action by proposing the brand credibility, attitude toward brand and brand loyalty in single model. Before this, these relations were explained separately. This research adds to the body of literature by checking the mediating effect of attitude toward brand for the relationship of brand credibility and brand loyalty.Relationship of brand credibility and brand loyalty: the mediating effects of attitude toward brand
M. Ikram Ul Haq, Abdul Khaliq Alvi, Muhammad Akram Somroo, Nadeem Akhtar, Ashfaque Ahmed
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Current research addresses the issue of brand loyalty while identifying its potential predictors. The research also examines the direct impact of brand credibility on brand loyalty and attitude toward brand and the direct impact of attitude toward brand and on brand loyalty respectively. Moreover, this research examines the mediating effect of attitude toward brand for the relationship of brand credibility and brand loyalty.

This is a cross-sectional research. Data is collected with the help of structured questionnaire. Simple random sampling technique is used for gathering the data from 220 Samsung users from Lahore, Pakistan.

Results indicate that brand credibility has a positive influence on attitude toward brand and brand loyalty respectively. Attitude toward brand partially intervenes the relation of brand credibility and brand loyalty.

There are some limitations of the current research. It includes only the customers of Samsung mobile. Data is collected from the customers of Lahore, Pakistan, only. This research can also be conducted among the customers of OPPO, Vivo and Apple and compare the results of current research with the results of OPPO, Vivo and Apple, which will provide the useful insights. This kind of research will also be conducted among the customers of other kinds of products like FMCGs, luxury items and even on the organizations of industrial products for generalizability. In future, customers of other cities of Pakistan like Karachi, Multan and Faisalabad may also be included for generalization.

This research provides a practical framework for the marketing department of Samsung mobiles and explains how brand credibility shape the brand loyalty through the path of attitude toward Samsung mobiles. So, Samsung mobiles can maintain current policies regarding brand credibility and attitude toward brand for attaining the better level of brand loyalty. Longitudinal research studies on these variables will also be helpful for the marketing department of Samsung for checking the level of propose relationships periodically and comparing it with previous results which will provide the true picture about propose relationships. If the value of propose relationships increases or remains at same level, then Samsung can maintain the current policies about these variables and if the value of these variables decreases, the Samsung will improve the current policies about these variables.

This research contributed in theory of reasoned action by proposing the brand credibility, attitude toward brand and brand loyalty in single model. Before this, these relations were explained separately. This research adds to the body of literature by checking the mediating effect of attitude toward brand for the relationship of brand credibility and brand loyalty.

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Relationship of brand credibility and brand loyalty: the mediating effects of attitude toward brand10.1108/JEAS-08-2021-0142Journal of Economic and Administrative Sciences2022-05-17© 2022 Emerald Publishing LimitedM. Ikram Ul HaqAbdul Khaliq AlviMuhammad Akram SomrooNadeem AkhtarAshfaque AhmedJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-05-1710.1108/JEAS-08-2021-0142https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0142/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Establishing the relationship between population aging and health care expenditure in Indiahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0144/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe main purpose of this paper is to examine the role of population aging in determining the health care expenditure (HCE) in India over the period 1981 to 2018. While establishing the linkage between population aging and HCE, the study has used economic growth, urbanization and CO2 emissions as control variables and used the autoregressive distributed lag (ARDL) approach to cointegration and VECM based Granger causality approach to estimate both the long-run and short-run relationships among the variables. The results of the ARDL bounds test showed that there is a stable and long-run relationship among the variables. The long-run and short-run coefficients reveal that population aging and income per capita exert a statistically significant and positive effect on per capita HCE in India. The VECM causality evidence shows that there is a presence of short-run causality from economic growth and population aging to per capita HCE, urbanization to environmental degradation and further from aging to urbanization. However, the long-run causality evidence confirms unidirectional causality from population aging to the per capita HCE. The research findings could be improved by considering the changes in mortality rate over time because of other environmental factors such as air pollution, among others as control variables. Various other variables affecting the health of an aged person could be considered for better research outcome which is not included in the present study because of the paucity of data. However, the present research findings would certainly serve effective policy instrument aiming at maximizing health gains that are highly associated with the elderly population and economic growth towards achieving sustainable development in India. The uniqueness of the present study lies in its estimation where the relationship between population aging and HCE is looked at while considering the impact of other environmental factors separately. The causal relationship is shown among the variables using updated econometrics time-series techniques. The study tried to resolve the ambiguity associated with the relationship between aging and HCE at a macro level.Establishing the relationship between population aging and health care expenditure in India
Geetilaxmi Mohapatra, Rahul Arora, Arun Kumar Giri
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The main purpose of this paper is to examine the role of population aging in determining the health care expenditure (HCE) in India over the period 1981 to 2018.

While establishing the linkage between population aging and HCE, the study has used economic growth, urbanization and CO2 emissions as control variables and used the autoregressive distributed lag (ARDL) approach to cointegration and VECM based Granger causality approach to estimate both the long-run and short-run relationships among the variables.

The results of the ARDL bounds test showed that there is a stable and long-run relationship among the variables. The long-run and short-run coefficients reveal that population aging and income per capita exert a statistically significant and positive effect on per capita HCE in India. The VECM causality evidence shows that there is a presence of short-run causality from economic growth and population aging to per capita HCE, urbanization to environmental degradation and further from aging to urbanization. However, the long-run causality evidence confirms unidirectional causality from population aging to the per capita HCE.

The research findings could be improved by considering the changes in mortality rate over time because of other environmental factors such as air pollution, among others as control variables. Various other variables affecting the health of an aged person could be considered for better research outcome which is not included in the present study because of the paucity of data. However, the present research findings would certainly serve effective policy instrument aiming at maximizing health gains that are highly associated with the elderly population and economic growth towards achieving sustainable development in India.

The uniqueness of the present study lies in its estimation where the relationship between population aging and HCE is looked at while considering the impact of other environmental factors separately. The causal relationship is shown among the variables using updated econometrics time-series techniques. The study tried to resolve the ambiguity associated with the relationship between aging and HCE at a macro level.

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Establishing the relationship between population aging and health care expenditure in India10.1108/JEAS-08-2021-0144Journal of Economic and Administrative Sciences2022-02-11© 2022 Emerald Publishing LimitedGeetilaxmi MohapatraRahul AroraArun Kumar GiriJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-02-1110.1108/JEAS-08-2021-0144https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0144/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
How ethnic dissimilarity influences perceived organizational support and organizational citizenship behaviors?https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0145/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study examines the mediating effect of self-efficacy between perceived organizational support (POS) and organizational citizenship behaviors (OCB) organization (OCBO); and POS and OCB individual (OCBI) in a cross-cultural context. Data were collected from 207 full-time academics from the private universities in Malaysia and Mainland China using a questionnaire survey. The results indicate that self-efficacy is a salient mediator linking POS with OCBI and OCBO. Additionally, ethnic dissimilarity is found to have a contextual influence on the research model as the results reveal that self-efficacy only mediates the relationship between POS and OCBO but not between POS and OCBI in a heterogeneous society. In contrast, self-efficacy is found to mediate the relationships between POS and OCBO and between POS and OCBI in a homogeneous society. This study contributes to the literature by being one of the first studies that examine the relationship between self-efficacy and two dimensions of OCB in two different cultural contexts.How ethnic dissimilarity influences perceived organizational support and organizational citizenship behaviors?
Luen Peng Tan, Yuen Onn Choong, Ching Seng Yap, Kum Lung Choe, Parisa Rungruang, Zhen Li
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study examines the mediating effect of self-efficacy between perceived organizational support (POS) and organizational citizenship behaviors (OCB) organization (OCBO); and POS and OCB individual (OCBI) in a cross-cultural context.

Data were collected from 207 full-time academics from the private universities in Malaysia and Mainland China using a questionnaire survey.

The results indicate that self-efficacy is a salient mediator linking POS with OCBI and OCBO. Additionally, ethnic dissimilarity is found to have a contextual influence on the research model as the results reveal that self-efficacy only mediates the relationship between POS and OCBO but not between POS and OCBI in a heterogeneous society. In contrast, self-efficacy is found to mediate the relationships between POS and OCBO and between POS and OCBI in a homogeneous society.

This study contributes to the literature by being one of the first studies that examine the relationship between self-efficacy and two dimensions of OCB in two different cultural contexts.

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How ethnic dissimilarity influences perceived organizational support and organizational citizenship behaviors?10.1108/JEAS-08-2021-0145Journal of Economic and Administrative Sciences2022-02-22© 2022 Emerald Publishing LimitedLuen Peng TanYuen Onn ChoongChing Seng YapKum Lung ChoeParisa RungruangZhen LiJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-02-2210.1108/JEAS-08-2021-0145https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0145/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Impact of personality traits on financial planning: an empirical evidence from Pakistanhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0147/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study examines the role of the big five personality traits: conscientiousness, openness, extroversion, neuroticism and agreeableness in financial planning. The research design is a quantitative approach. The study has used structured questionnaires to collect data from 403 business students. The hypotheses were tested through structural equation modeling using AMOS. The findings revealed that extroversion of personality traits have a significant negative influence on financial planning, neuroticism and conscious personalities have a significant positive effect on financial planning. However, two personality traits, namely openness and agreeableness, have no significant influence on financial planning. The study confirmed that out of five, three personality traits have significant impact on financial planning. The results suggest that all personality traits do not influence financial planning among students. Financial planning is deemed an essential decision in life. Although some people are very conscious about their future expenditures, others are not much concerned. Based on the findings, this study recommends that policymakers may conduct workshops and arrange seminars and conferences for the promotion of financial planning and individual's financial well-being. The government needs to promote financial education that can directly and indirectly enhance the saving planning capabilities of the people. The results suggest that not all personality traits facilitate financial planning. Financial planning is deemed as a crucial decision in life. Some students are very conscious about their future expenditures, while others are not much concerned. This study recommends that policymakers conduct workshops and arrange seminars and conferences to promote financial planning and individuals' financial well-being. The government of Pakistan needs to promote financial education that can, directly and indirectly, enhance the savings and planning capabilities of the students. This research contributes to the personality literature, the theory of planned behavior and the life cycle theory by testing the model based on empirical evidence. The current study is the first to focus on the role of the big five personality traits in financial planning among students in Pakistan, an emerging economy.Impact of personality traits on financial planning: an empirical evidence from Pakistan
Jawad Abdul Ghaffar, Muhammad Sualeh Khattak, Tazeem Ali Shah, Mahad Jehangir
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study examines the role of the big five personality traits: conscientiousness, openness, extroversion, neuroticism and agreeableness in financial planning.

The research design is a quantitative approach. The study has used structured questionnaires to collect data from 403 business students. The hypotheses were tested through structural equation modeling using AMOS.

The findings revealed that extroversion of personality traits have a significant negative influence on financial planning, neuroticism and conscious personalities have a significant positive effect on financial planning. However, two personality traits, namely openness and agreeableness, have no significant influence on financial planning. The study confirmed that out of five, three personality traits have significant impact on financial planning.

The results suggest that all personality traits do not influence financial planning among students. Financial planning is deemed an essential decision in life. Although some people are very conscious about their future expenditures, others are not much concerned. Based on the findings, this study recommends that policymakers may conduct workshops and arrange seminars and conferences for the promotion of financial planning and individual's financial well-being. The government needs to promote financial education that can directly and indirectly enhance the saving planning capabilities of the people.

The results suggest that not all personality traits facilitate financial planning. Financial planning is deemed as a crucial decision in life. Some students are very conscious about their future expenditures, while others are not much concerned. This study recommends that policymakers conduct workshops and arrange seminars and conferences to promote financial planning and individuals' financial well-being. The government of Pakistan needs to promote financial education that can, directly and indirectly, enhance the savings and planning capabilities of the students.

This research contributes to the personality literature, the theory of planned behavior and the life cycle theory by testing the model based on empirical evidence. The current study is the first to focus on the role of the big five personality traits in financial planning among students in Pakistan, an emerging economy.

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Impact of personality traits on financial planning: an empirical evidence from Pakistan10.1108/JEAS-08-2021-0147Journal of Economic and Administrative Sciences2022-01-25© 2022 Emerald Publishing LimitedJawad Abdul GhaffarMuhammad Sualeh KhattakTazeem Ali ShahMahad JehangirJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-01-2510.1108/JEAS-08-2021-0147https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0147/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Trust in peer-to-peer (P2P) lending platforms in Malaysia: understanding the determinants from retail investors' perspectiveshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0148/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestDespite a large stake of investment by retail investors and a growing number of peer-to-peer (P2P) lending platforms coupled with the initiation of secondary market and strong regulatory framework, less is known what leads investors to trust in P2P (TP2P) lending platforms in a multi-ethnic country, Malaysia. This study aims to investigate the effects of individual characteristics (gender, age, ethnicity, education and income), social influence of P2P (SIP2P) lending and privacy of P2P (PP2P) lending on the trust in emerging P2P platforms. A cross-sectional survey was conducted to collect the data from retail investors in Malaysia. A variance-based partial least squares-structural equation modeling (PLS-SEM) model was applied to examine the significant predictors of TP2P lending platforms. The results show that while investors' income is positively related to TP2P lending platforms, younger investors are less likely to have trust on P2P lending platforms. PP2P lending platforms increases retail investors' trust toward P2P platforms in Malaysia. P2P service providers are suggested to give especial attention to investors' specific characteristics to develop trust and attract investors to the platforms. Service providers need to ensure the privacy of potential investors' personal and confidential data to build investors' trust. This is the first study to assess retail investors' trust toward online P2P lending platforms in Malaysia, where this alternative financing platform gradually gaining popularity.Trust in peer-to-peer (P2P) lending platforms in Malaysia: understanding the determinants from retail investors' perspectives
Mohammad Tariqul Islam Khan
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Despite a large stake of investment by retail investors and a growing number of peer-to-peer (P2P) lending platforms coupled with the initiation of secondary market and strong regulatory framework, less is known what leads investors to trust in P2P (TP2P) lending platforms in a multi-ethnic country, Malaysia. This study aims to investigate the effects of individual characteristics (gender, age, ethnicity, education and income), social influence of P2P (SIP2P) lending and privacy of P2P (PP2P) lending on the trust in emerging P2P platforms.

A cross-sectional survey was conducted to collect the data from retail investors in Malaysia. A variance-based partial least squares-structural equation modeling (PLS-SEM) model was applied to examine the significant predictors of TP2P lending platforms.

The results show that while investors' income is positively related to TP2P lending platforms, younger investors are less likely to have trust on P2P lending platforms. PP2P lending platforms increases retail investors' trust toward P2P platforms in Malaysia.

P2P service providers are suggested to give especial attention to investors' specific characteristics to develop trust and attract investors to the platforms. Service providers need to ensure the privacy of potential investors' personal and confidential data to build investors' trust.

This is the first study to assess retail investors' trust toward online P2P lending platforms in Malaysia, where this alternative financing platform gradually gaining popularity.

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Trust in peer-to-peer (P2P) lending platforms in Malaysia: understanding the determinants from retail investors' perspectives10.1108/JEAS-08-2021-0148Journal of Economic and Administrative Sciences2022-03-15© 2022 Emerald Publishing LimitedMohammad Tariqul Islam KhanJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-03-1510.1108/JEAS-08-2021-0148https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0148/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Governance quality and economic growth in Sub-Saharan Africa: the dynamic panel modelhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0156/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe main objective of this article is to analyze the role of governance quality in influencing the economic growth of 22 selected Sub-Saharan African Countries. The study applied the panel dynamic Generalized Method of Moments (GMM) to analyze the data obtained from the World Bank database over the period from 2002 to 2020. The overall finding indicated that the composite governance index has a positive significant effect on the economic growth of the countries; where a unit improvement in the aggregate governance index leads to a 3.05% increase in GDP. The disaggregated result has shown that corruption control and government effectiveness have a negative significant effect on growth performance, whereas, the rule of law and regulatory quality showed a positive significant effect. Political stability and voice and accountability have an insignificant effect on economic growth. Due to data limitations, this study could not address the whole members of Sub Sahara African Countries and could not see the causal relationship. The study suggested a strong commitment to the implementation of policy and reform measures on all governance factors. This may add to the need to devise participatory corruption control mechanisms; to closely look at the proper implementation of policies and reforms that constitute the government effectiveness factors, and properly implement the rule of law at all levels of the government with a strong commitment to realizing it so that citizens at all levels can have full confidence in and abide by the rules of society. Even though there are some studies conducted using conventional methods of panel data analysis such as random effect or fixed effects, this empirical study used more advanced panel dynamic generalized moment of methods to examine the role of improvement in governance quality on economic growth.Governance quality and economic growth in Sub-Saharan Africa: the dynamic panel model
Amsalu Bedemo Beyene
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The main objective of this article is to analyze the role of governance quality in influencing the economic growth of 22 selected Sub-Saharan African Countries.

The study applied the panel dynamic Generalized Method of Moments (GMM) to analyze the data obtained from the World Bank database over the period from 2002 to 2020.

The overall finding indicated that the composite governance index has a positive significant effect on the economic growth of the countries; where a unit improvement in the aggregate governance index leads to a 3.05% increase in GDP. The disaggregated result has shown that corruption control and government effectiveness have a negative significant effect on growth performance, whereas, the rule of law and regulatory quality showed a positive significant effect. Political stability and voice and accountability have an insignificant effect on economic growth.

Due to data limitations, this study could not address the whole members of Sub Sahara African Countries and could not see the causal relationship.

The study suggested a strong commitment to the implementation of policy and reform measures on all governance factors. This may add to the need to devise participatory corruption control mechanisms; to closely look at the proper implementation of policies and reforms that constitute the government effectiveness factors, and properly implement the rule of law at all levels of the government with a strong commitment to realizing it so that citizens at all levels can have full confidence in and abide by the rules of society.

Even though there are some studies conducted using conventional methods of panel data analysis such as random effect or fixed effects, this empirical study used more advanced panel dynamic generalized moment of methods to examine the role of improvement in governance quality on economic growth.

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Governance quality and economic growth in Sub-Saharan Africa: the dynamic panel model10.1108/JEAS-08-2021-0156Journal of Economic and Administrative Sciences2022-01-18© 2021 Emerald Publishing LimitedAmsalu Bedemo BeyeneJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-01-1810.1108/JEAS-08-2021-0156https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0156/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2021 Emerald Publishing Limited
Bank profitability in Sub-Saharan Africa: does economic globalization matter?https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0158/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to examine the impact of economic globalization on bank profitability in Sub-Saharan Africa. The empirical analysis is based on panel data of banks spanning 2008–2016. Relying on the KOF Globalization Index, the study uses financial globalization and trade globalization as measures of economic globalization. The authors employ the system generalized method of moments technique to establish the relationship between economic globalization and bank profitability while controlling for the effect of bank-specific and macroeconomic factors. The results show a negative significant effect of financial and trade globalization on bank profitability, signifying the intense competition of banks in Sub-Saharan Africa accelerated by globalization. The negative effect of economic globalization holds irrespective of the indicator of bank profitability. Bank size exerts a significant effect on profitability though the impact is negative for return on equity measure. The findings further reveal a positive significant impact of GDP growth and inflation on profitability. This paper presents a pioneering work on the impact of economic globalization on bank profitability in the Sub-Saharan African context per the researchers' knowledge.Bank profitability in Sub-Saharan Africa: does economic globalization matter?
Ibrahim Nandom Yakubu, Alhassan Bunyaminu
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to examine the impact of economic globalization on bank profitability in Sub-Saharan Africa.

The empirical analysis is based on panel data of banks spanning 2008–2016. Relying on the KOF Globalization Index, the study uses financial globalization and trade globalization as measures of economic globalization. The authors employ the system generalized method of moments technique to establish the relationship between economic globalization and bank profitability while controlling for the effect of bank-specific and macroeconomic factors.

The results show a negative significant effect of financial and trade globalization on bank profitability, signifying the intense competition of banks in Sub-Saharan Africa accelerated by globalization. The negative effect of economic globalization holds irrespective of the indicator of bank profitability. Bank size exerts a significant effect on profitability though the impact is negative for return on equity measure. The findings further reveal a positive significant impact of GDP growth and inflation on profitability.

This paper presents a pioneering work on the impact of economic globalization on bank profitability in the Sub-Saharan African context per the researchers' knowledge.

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Bank profitability in Sub-Saharan Africa: does economic globalization matter?10.1108/JEAS-08-2021-0158Journal of Economic and Administrative Sciences2022-02-04© 2022 Emerald Publishing LimitedIbrahim Nandom YakubuAlhassan BunyaminuJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-02-0410.1108/JEAS-08-2021-0158https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0158/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Critical success factors of implementing sustainable and responsible investment (SRI) Sukuk for economic recovery from COVID-19 pandemichttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0160/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThere are three objectives of this paper. First, the study investigates the critical success factors critical success factors (CSFs) of implementing sustainable and responsible investment (SRI) Sukuk in Malaysia as perceived by stakeholders. Second, the study examines the differences between the developers and the investors in relation to the importance of the CSFs. Third, the study attempts to categorise the CSFs. Using a questionnaire survey, 260 completed and useable responses were received representing a 42.54% response rate. In examining the importance of CSFs, the descriptive statistical tests of mean, standard deviation and mean score ranking were used. Independent t-tests were conducted to investigate the differences in the perceptions of the importance of CSFs between the developer and the investor groups. In categorising the CSFs, exploratory factor analysis (EFA) was undertaken. Overall, the top five most important CSFs as perceived by respondents are as follows: (1) good governance framework, (2) fulfil ethical standards, (3) transparent procurement process, (4) well-defined scope and (5) viable feasibility study. On the other hand, the five factors that are ranked last are as follows: (1) defined stakeholder roles, (2) stable macro-economic conditions, (3) existing social programmes, (4) guarantor and (5) political will. The study also found that there is a significant statistical difference in how the developers and investors scored the CSFs. Moreover, there are three main categories of the CSFs that are effective feasibility study, financial and technical considerations and political willingness and agreeability. The findings highlight the critical factors to consider when implementing SRI Sukuk. This can also serve as a reference and guideline for countries considering SRI Sukuk issuances for economic recovery stimulus post-coronavirus disease 2019 (COVID-19) pandemic.Critical success factors of implementing sustainable and responsible investment (SRI) Sukuk for economic recovery from COVID-19 pandemic
Syed Marwan, Suhaiza Ismail, Mohamed Aslam Mohamed Haneef, Engku Rabiah Adawiah Engku Ali
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

There are three objectives of this paper. First, the study investigates the critical success factors critical success factors (CSFs) of implementing sustainable and responsible investment (SRI) Sukuk in Malaysia as perceived by stakeholders. Second, the study examines the differences between the developers and the investors in relation to the importance of the CSFs. Third, the study attempts to categorise the CSFs.

Using a questionnaire survey, 260 completed and useable responses were received representing a 42.54% response rate. In examining the importance of CSFs, the descriptive statistical tests of mean, standard deviation and mean score ranking were used. Independent t-tests were conducted to investigate the differences in the perceptions of the importance of CSFs between the developer and the investor groups. In categorising the CSFs, exploratory factor analysis (EFA) was undertaken.

Overall, the top five most important CSFs as perceived by respondents are as follows: (1) good governance framework, (2) fulfil ethical standards, (3) transparent procurement process, (4) well-defined scope and (5) viable feasibility study. On the other hand, the five factors that are ranked last are as follows: (1) defined stakeholder roles, (2) stable macro-economic conditions, (3) existing social programmes, (4) guarantor and (5) political will. The study also found that there is a significant statistical difference in how the developers and investors scored the CSFs. Moreover, there are three main categories of the CSFs that are effective feasibility study, financial and technical considerations and political willingness and agreeability.

The findings highlight the critical factors to consider when implementing SRI Sukuk. This can also serve as a reference and guideline for countries considering SRI Sukuk issuances for economic recovery stimulus post-coronavirus disease 2019 (COVID-19) pandemic.

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Critical success factors of implementing sustainable and responsible investment (SRI) Sukuk for economic recovery from COVID-19 pandemic10.1108/JEAS-08-2021-0160Journal of Economic and Administrative Sciences2022-11-15© 2022 Emerald Publishing LimitedSyed MarwanSuhaiza IsmailMohamed Aslam Mohamed HaneefEngku Rabiah Adawiah Engku AliJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-11-1510.1108/JEAS-08-2021-0160https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0160/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Effect of COVID-19 pandemic on women entrepreneurial sustainability: the role of Islamic microfinance institutionshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0166/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe breakout of the COVID-19 pandemic has forced governments all over the globe to bring radical changes to all walks of life. Strict lockdowns are not only adversely affecting the social, economic, and psychological wellbeing of individuals but also questioning the sustainability of most businesses. In wake of the current scenario, this study is aimed at exploring how the COVID-19 pandemic is influencing the sustainability of entrepreneurship particularly from a female perspective and further providing insights into the role of Islamic financial institutions in the sustainability of businesses during COVID-19. This is a qualitative study that takes social constructivism approach to study the underlying phenomenon. Semi-structured interviews are conducted to collect primary data. Secondary data are also utilized in this study to theoretically define various concepts relating to entrepreneurial sustainability. The application of thematic analysis revealed various risks associated with sustainability. The interviews reveal the ground realities and tell us about the hardships being faced by the entrepreneurs due to ongoing crises. The participants of the study also shed light on the role of Islamic financial institutions during the pandemic. The study results revealed that it may look impossible for women entrepreneurs to halt or avoid the adverse consequences of the pandemic; however, a few female entrepreneurs strived to guard their existing portfolios with the help of Islamic microfinance institutions. Whereas, several women, especially those running home-based businesses, lost their income streams. Despite these rapid challenges, most female entrepreneurs are working on inventive online systems to sustain their business activities during the crisis. Finally, guidelines are suggested which can help achieve sustainability of the entrepreneurial startups. The outcomes of this study are expedient for funding agencies, government authorities and Islamic financial institutions as well as for non-government institutions to establish sustainable and broader policies for women to become successful entrepreneurs during severe disasters like COVID-19. Moreover, the study is a helpful tool for women entrepreneurs to avert the worst impact of the pandemic with the help of Islamic microfinance institutions. The themes of this study help generate realistic information to appraise the strategies to create facilitating business environments that drive the women to carry out the entrepreneurial activity during any crisis like the COVID-19. The results of this study provide evidence that crisis can be anticipated up to some extent if entrepreneurs become able to take proactive decisions in case of expected or identifiable threats. The study may also help the women entrepreneurs to comprehend the serious consequences of the pandemic by shifting their mode of financing to Islamic finance. Although this pandemic is a cause of physical discomfort instead this research may encourage the female entrepreneurs not to lose heart, just find the potential opportunities for their home-based and small businesses and manage funding from the Islamic microfinance institutions. The study adds to the existing literature on entrepreneurial sustainability with a particular focus on the role of Islamic microfinance institutions for women entrepreneurs' sustainability in Pakistan. Secondly, the study employs the entrepreneurial sustainability model (ESM) that, according to the best of our knowledge, has not been used by the researchers earlier to study the given research phenomenon. Thirdly, the study findings are expedient for funding agencies, government authorities and financial institutions as well as for non-government institutions to establish sustainable and broader policies for women to become successful entrepreneurs during disasters like COVID-19.Effect of COVID-19 pandemic on women entrepreneurial sustainability: the role of Islamic microfinance institutions
Aisha Aziz, Jawad Iqbal, Muhammad Hamid Murtza, Shahzad Ali Gill, Iqra Yousuf Cheema
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The breakout of the COVID-19 pandemic has forced governments all over the globe to bring radical changes to all walks of life. Strict lockdowns are not only adversely affecting the social, economic, and psychological wellbeing of individuals but also questioning the sustainability of most businesses. In wake of the current scenario, this study is aimed at exploring how the COVID-19 pandemic is influencing the sustainability of entrepreneurship particularly from a female perspective and further providing insights into the role of Islamic financial institutions in the sustainability of businesses during COVID-19.

This is a qualitative study that takes social constructivism approach to study the underlying phenomenon. Semi-structured interviews are conducted to collect primary data. Secondary data are also utilized in this study to theoretically define various concepts relating to entrepreneurial sustainability. The application of thematic analysis revealed various risks associated with sustainability. The interviews reveal the ground realities and tell us about the hardships being faced by the entrepreneurs due to ongoing crises. The participants of the study also shed light on the role of Islamic financial institutions during the pandemic.

The study results revealed that it may look impossible for women entrepreneurs to halt or avoid the adverse consequences of the pandemic; however, a few female entrepreneurs strived to guard their existing portfolios with the help of Islamic microfinance institutions. Whereas, several women, especially those running home-based businesses, lost their income streams. Despite these rapid challenges, most female entrepreneurs are working on inventive online systems to sustain their business activities during the crisis. Finally, guidelines are suggested which can help achieve sustainability of the entrepreneurial startups.

The outcomes of this study are expedient for funding agencies, government authorities and Islamic financial institutions as well as for non-government institutions to establish sustainable and broader policies for women to become successful entrepreneurs during severe disasters like COVID-19. Moreover, the study is a helpful tool for women entrepreneurs to avert the worst impact of the pandemic with the help of Islamic microfinance institutions. The themes of this study help generate realistic information to appraise the strategies to create facilitating business environments that drive the women to carry out the entrepreneurial activity during any crisis like the COVID-19.

The results of this study provide evidence that crisis can be anticipated up to some extent if entrepreneurs become able to take proactive decisions in case of expected or identifiable threats. The study may also help the women entrepreneurs to comprehend the serious consequences of the pandemic by shifting their mode of financing to Islamic finance. Although this pandemic is a cause of physical discomfort instead this research may encourage the female entrepreneurs not to lose heart, just find the potential opportunities for their home-based and small businesses and manage funding from the Islamic microfinance institutions.

The study adds to the existing literature on entrepreneurial sustainability with a particular focus on the role of Islamic microfinance institutions for women entrepreneurs' sustainability in Pakistan. Secondly, the study employs the entrepreneurial sustainability model (ESM) that, according to the best of our knowledge, has not been used by the researchers earlier to study the given research phenomenon. Thirdly, the study findings are expedient for funding agencies, government authorities and financial institutions as well as for non-government institutions to establish sustainable and broader policies for women to become successful entrepreneurs during disasters like COVID-19.

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Effect of COVID-19 pandemic on women entrepreneurial sustainability: the role of Islamic microfinance institutions10.1108/JEAS-08-2021-0166Journal of Economic and Administrative Sciences2022-08-18© 2022 Emerald Publishing LimitedAisha AzizJawad IqbalMuhammad Hamid MurtzaShahzad Ali GillIqra Yousuf CheemaJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-08-1810.1108/JEAS-08-2021-0166https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0166/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Impact of cryptos on the inflation volatility in India: an application of bivariate BEKK-GARCH modelshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0167/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe main aim of the study is to explore the volatility spillover effect of cryptocurrencies (Bitcoin, Ethereum and Litecoin) on inflation volatility in India. A popular tool, the Bivariate GARCH model (BEKK-GARCH), to study the volatility spillover effect, is applied in the study. Monthly data of cryptocurrencies and inflation (WPI and CPI indices) are gathered from 2015 to 2021. Significant short-term responsiveness of volatility of cryptocurrencies on the inflation volatility is found. In addition to this, the significant volatility spillover effect from the cryptocurrencies to the inflation volatility is found. The findings of the current paper can be of use for inflation management, target inflation policies and policies to contain the volatility of cryptocurrencies. The significance of the current paper is relevant as governments worldwide are officially recognizing cryptocurrencies and starting the process of launching their official virtual currency. No other study is observed on the topic. Hence, the contribution and novelty of the findings of the current paper are very high and add value to the nonexistent literature on the topic. Lack of the number of inflation observations (data of CPI and WPI are available only in monthly frequency) crimps the model estimation. As the cryptocurrencies become old, more data points will be available by design, and such problems can be resolved, and better model estimation may be possible.Impact of cryptos on the inflation volatility in India: an application of bivariate BEKK-GARCH models
Shailesh Rastogi, Jagjeevan Kanoujiya
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The main aim of the study is to explore the volatility spillover effect of cryptocurrencies (Bitcoin, Ethereum and Litecoin) on inflation volatility in India.

A popular tool, the Bivariate GARCH model (BEKK-GARCH), to study the volatility spillover effect, is applied in the study. Monthly data of cryptocurrencies and inflation (WPI and CPI indices) are gathered from 2015 to 2021.

Significant short-term responsiveness of volatility of cryptocurrencies on the inflation volatility is found. In addition to this, the significant volatility spillover effect from the cryptocurrencies to the inflation volatility is found.

The findings of the current paper can be of use for inflation management, target inflation policies and policies to contain the volatility of cryptocurrencies. The significance of the current paper is relevant as governments worldwide are officially recognizing cryptocurrencies and starting the process of launching their official virtual currency.

No other study is observed on the topic. Hence, the contribution and novelty of the findings of the current paper are very high and add value to the nonexistent literature on the topic. Lack of the number of inflation observations (data of CPI and WPI are available only in monthly frequency) crimps the model estimation. As the cryptocurrencies become old, more data points will be available by design, and such problems can be resolved, and better model estimation may be possible.

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Impact of cryptos on the inflation volatility in India: an application of bivariate BEKK-GARCH models10.1108/JEAS-08-2021-0167Journal of Economic and Administrative Sciences2022-01-14© 2021 Emerald Publishing LimitedShailesh RastogiJagjeevan KanoujiyaJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-01-1410.1108/JEAS-08-2021-0167https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0167/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2021 Emerald Publishing Limited
The effect of economic policy uncertainty index on the Indian economy in the wake of COVID-19 pandemichttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0172/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe paper tries to analyse empirically the impact of India's economic policy uncertainty (EPU) index on different macro-economic variables of India, like import, export, interest rate, exchange rate, inflation rate and stock market during pre-COVID-19 and COVID-19 era. Although there exist several works where relationship and volatility among the stock markets and macro-economic indicators during the COVID-19 pandemic have been estimated, but till now none of the studies examined the effect of EPU index on different macro-economic variables in the Indian context along with the stock market due to the outbreak of COVID-19 pandemic. This is considered a noteworthy gap and hence opens up a new dimension for examination. To get a clear picture, monthly data from January, 2012 to September, 2021 have been considered where January, 2012–February, 2020 is taken as the pre-COVID-19 period and March, 2020–September, 2021 as COVID-19 period. All the data are converted into log natural. The authors applied DCC-GARCH model to investigate the impact of EPU index on volatility of selected variables over the study period across a multivariate framework and Markov regime-switching model to examine the switching over of the variables. The results of dynamic conditional correlation - multivariate generalized autoregressive conditional heteroskedasticity (DCC-MGARCH) model indicates the presence of volatility in the dependent variables arising out of economic policy uncertainty considering the segmentation of the study period into pre-COVID-19 and COVID-19. The results of Markov regime-switching model show the variables make a significant move from low-volatility regime to high-volatility regime due to the presence of COVID-19. It can be implied that impact of EPU in terms of volatility on the Indian Stock Market will lead to unfavourable investment conditions for the prospective investors. Even, the different macro-economic variables are to suffer from the volatility arising out of EPU across a long time horizon as confirmed from the DCC-MGARCH model. The study is original in nature. It adds superior values from the new and significant findings from the study empirically. Application of DCC-MGARCH model and Markov regime switching model makes the study an innovative one in terms of methodology and findings.The effect of economic policy uncertainty index on the Indian economy in the wake of COVID-19 pandemic
Raktim Ghosh, Bhaskar Bagchi, Susmita Chatterjee
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The paper tries to analyse empirically the impact of India's economic policy uncertainty (EPU) index on different macro-economic variables of India, like import, export, interest rate, exchange rate, inflation rate and stock market during pre-COVID-19 and COVID-19 era.

Although there exist several works where relationship and volatility among the stock markets and macro-economic indicators during the COVID-19 pandemic have been estimated, but till now none of the studies examined the effect of EPU index on different macro-economic variables in the Indian context along with the stock market due to the outbreak of COVID-19 pandemic. This is considered a noteworthy gap and hence opens up a new dimension for examination. To get a clear picture, monthly data from January, 2012 to September, 2021 have been considered where January, 2012–February, 2020 is taken as the pre-COVID-19 period and March, 2020–September, 2021 as COVID-19 period. All the data are converted into log natural. The authors applied DCC-GARCH model to investigate the impact of EPU index on volatility of selected variables over the study period across a multivariate framework and Markov regime-switching model to examine the switching over of the variables.

The results of dynamic conditional correlation - multivariate generalized autoregressive conditional heteroskedasticity (DCC-MGARCH) model indicates the presence of volatility in the dependent variables arising out of economic policy uncertainty considering the segmentation of the study period into pre-COVID-19 and COVID-19. The results of Markov regime-switching model show the variables make a significant move from low-volatility regime to high-volatility regime due to the presence of COVID-19.

It can be implied that impact of EPU in terms of volatility on the Indian Stock Market will lead to unfavourable investment conditions for the prospective investors. Even, the different macro-economic variables are to suffer from the volatility arising out of EPU across a long time horizon as confirmed from the DCC-MGARCH model.

The study is original in nature. It adds superior values from the new and significant findings from the study empirically. Application of DCC-MGARCH model and Markov regime switching model makes the study an innovative one in terms of methodology and findings.

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The effect of economic policy uncertainty index on the Indian economy in the wake of COVID-19 pandemic10.1108/JEAS-08-2021-0172Journal of Economic and Administrative Sciences2022-01-27© 2022 Emerald Publishing LimitedRaktim GhoshBhaskar BagchiSusmita ChatterjeeJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-01-2710.1108/JEAS-08-2021-0172https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0172/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Islamic equity funds and stock market: dynamic relation and market timing during the COVID-19 outbreakhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0173/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to explore the impact of the COVID-19 pandemic on the market timing skills of Islamic equity funds in Asia, Europe and North America. The authors employed a two-step process. First, a Granger causality test is applied to test the bivariate relationship between Islamic fund indices and stock market ones by highlighting the impact of the COVID-19 pandemic. Second, the methodology of Treynor and Mazuy (1966) is deployed to account for the market timing abilities skills of Islamic fund managers during the pandemic period. The investigation revealed mixed results. The European Islamic funds were positively impacted by the stock market as well as by the COVID-19 pandemic context. Additionally, compared to their Asian and North American peers, only European Islamic fund managers have the ability to time the market during the health crisis period. Despite its contribution to the Islamic finance literature, this study has some flaws. Indeed, the selected sample of three regions, namely Asia, Europe and North America, precludes extrapolating these conclusions. Other regions should be investigated to further our understanding of Islamic equity funds. Furthermore, due to data availability and accessibility, the study period was limited to a specific time of the COVID-19 pandemic. This shortcoming can be addressed through a multiwave investigation, especially since each region was exposed differently to the pandemic. The paper provides scholars, portfolio managers and investors with insights regarding the investment dilemma during the COVID-19 pandemic period, especially for those wishing to hedge their pandemic risk exposure and/or diversify their portfolios. Equally, the depiction of potential market timing abilities of Islamic fund managers across the three regions would serve as a guide to identifying the most suitable internationally focused investment strategy. The paper provides scholars, portfolio managers and investors with insights regarding the investment dilemma during the COVID-19 pandemic period, especially for those wishing to hedge their pandemic risk exposure and/or diversify their portfolios. Equally, the depiction of potential market timing abilities of Islamic funds managers across the three regions would serve as a guide to identify the most suitable internationally focused investment strategy. The originality of this investigation is that it is the first to examine Islamic equity fund managers and their skills to time the stock markets during the COVID-19 pandemic period in Asia, Europe and North America. The current paper extends the Islamic finance literature.Islamic equity funds and stock market: dynamic relation and market timing during the COVID-19 outbreak
Soumaya Ben Khelifa, Sonia Arsi
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to explore the impact of the COVID-19 pandemic on the market timing skills of Islamic equity funds in Asia, Europe and North America.

The authors employed a two-step process. First, a Granger causality test is applied to test the bivariate relationship between Islamic fund indices and stock market ones by highlighting the impact of the COVID-19 pandemic. Second, the methodology of Treynor and Mazuy (1966) is deployed to account for the market timing abilities skills of Islamic fund managers during the pandemic period.

The investigation revealed mixed results. The European Islamic funds were positively impacted by the stock market as well as by the COVID-19 pandemic context. Additionally, compared to their Asian and North American peers, only European Islamic fund managers have the ability to time the market during the health crisis period.

Despite its contribution to the Islamic finance literature, this study has some flaws. Indeed, the selected sample of three regions, namely Asia, Europe and North America, precludes extrapolating these conclusions. Other regions should be investigated to further our understanding of Islamic equity funds. Furthermore, due to data availability and accessibility, the study period was limited to a specific time of the COVID-19 pandemic. This shortcoming can be addressed through a multiwave investigation, especially since each region was exposed differently to the pandemic.

The paper provides scholars, portfolio managers and investors with insights regarding the investment dilemma during the COVID-19 pandemic period, especially for those wishing to hedge their pandemic risk exposure and/or diversify their portfolios. Equally, the depiction of potential market timing abilities of Islamic fund managers across the three regions would serve as a guide to identifying the most suitable internationally focused investment strategy.

The paper provides scholars, portfolio managers and investors with insights regarding the investment dilemma during the COVID-19 pandemic period, especially for those wishing to hedge their pandemic risk exposure and/or diversify their portfolios. Equally, the depiction of potential market timing abilities of Islamic funds managers across the three regions would serve as a guide to identify the most suitable internationally focused investment strategy.

The originality of this investigation is that it is the first to examine Islamic equity fund managers and their skills to time the stock markets during the COVID-19 pandemic period in Asia, Europe and North America. The current paper extends the Islamic finance literature.

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Islamic equity funds and stock market: dynamic relation and market timing during the COVID-19 outbreak10.1108/JEAS-08-2021-0173Journal of Economic and Administrative Sciences2022-07-05© 2022 Emerald Publishing LimitedSoumaya Ben KhelifaSonia ArsiJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-07-0510.1108/JEAS-08-2021-0173https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2021-0173/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Indigenous – foreign culture fit and public employee performance: the case of Ghanahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2022-0182/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe study examines the relationship between the interaction of indigenous–foreign cultures and public employee performance (PEP) in the Ghanaian public sector due to the perceived unproductive cultures in the public sector. The study employs a quantitative approach, where cross-sectional survey design is used to collect the data from Ghanaian public employees. The analysis is done using correlation and hierarchical regression techniques. The results reveal that both indigenous and foreign cultures are pervasive in the Ghanaian public sector, with high power distance and individualism being dominant cultures. Furthermore, while the indigenous cultures have negative significant relationship with PEP, the foreign cultures have positive significant relationship with PEP. The foreign cultures effectively control the relationship between the indigenous cultures and PEP but insignificantly moderate such relationship. The findings imply that deliberate attempts should be made to encourage the foreign cultures with attractive reward packages to induce workers. This will indirectly control the practice of the inimical cultures and ultimately reduce their negative effect on PEP. The study contributes significantly to the extant literature by providing empirical evidence of the indigenous–foreign culture fit and PEP from a developing country, Ghana.Indigenous – foreign culture fit and public employee performance: the case of Ghana
Fred Awaah
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The study examines the relationship between the interaction of indigenous–foreign cultures and public employee performance (PEP) in the Ghanaian public sector due to the perceived unproductive cultures in the public sector.

The study employs a quantitative approach, where cross-sectional survey design is used to collect the data from Ghanaian public employees. The analysis is done using correlation and hierarchical regression techniques.

The results reveal that both indigenous and foreign cultures are pervasive in the Ghanaian public sector, with high power distance and individualism being dominant cultures. Furthermore, while the indigenous cultures have negative significant relationship with PEP, the foreign cultures have positive significant relationship with PEP. The foreign cultures effectively control the relationship between the indigenous cultures and PEP but insignificantly moderate such relationship.

The findings imply that deliberate attempts should be made to encourage the foreign cultures with attractive reward packages to induce workers. This will indirectly control the practice of the inimical cultures and ultimately reduce their negative effect on PEP.

The study contributes significantly to the extant literature by providing empirical evidence of the indigenous–foreign culture fit and PEP from a developing country, Ghana.

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Indigenous – foreign culture fit and public employee performance: the case of Ghana10.1108/JEAS-08-2022-0182Journal of Economic and Administrative Sciences2022-12-27© 2022 Emerald Publishing LimitedFred AwaahJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-12-2710.1108/JEAS-08-2022-0182https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2022-0182/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Leadership, trustworthiness and employee engagement: an insight during the COVID-19https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2022-0183/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this study is to explore the associations between leadership, trustworthiness, and employee engagement during COVID-19. In this cross-sectional, quantitative study, surveys of Sri Lankan male and female managers were conducted via standardized questionnaires. The sample size was 297 respondents. The Smart-PLS version 3.36 structural equation model analyzed the data set. Both leadership and employee engagement and trustworthiness and employee engagement were found to have a statistically significant relationship. It has been found that leadership indirectly contributes to a higher degree of employee engagement through increased trustworthiness. According to the findings, employee engagement rises when they have the trustworthiness of the leadership in the virtual environment. According to the findings of this study, organizations need to introduce rules to improve leadership manager roles in a virtual environment, which can improve trustworthiness and employee engagement. It also suggests that organizations should build trustworthiness between employees and leadership through a positive culture in a virtual environment that can improve employee engagement and organizational performance. Research on leadership and trustworthiness improves employee engagement in a virtual environment is the contribution of this study.Leadership, trustworthiness and employee engagement: an insight during the COVID-19
Anuradha Iddagoda, Hiranya Dissanayake, Anna Bagienska
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this study is to explore the associations between leadership, trustworthiness, and employee engagement during COVID-19.

In this cross-sectional, quantitative study, surveys of Sri Lankan male and female managers were conducted via standardized questionnaires. The sample size was 297 respondents. The Smart-PLS version 3.36 structural equation model analyzed the data set.

Both leadership and employee engagement and trustworthiness and employee engagement were found to have a statistically significant relationship. It has been found that leadership indirectly contributes to a higher degree of employee engagement through increased trustworthiness. According to the findings, employee engagement rises when they have the trustworthiness of the leadership in the virtual environment.

According to the findings of this study, organizations need to introduce rules to improve leadership manager roles in a virtual environment, which can improve trustworthiness and employee engagement. It also suggests that organizations should build trustworthiness between employees and leadership through a positive culture in a virtual environment that can improve employee engagement and organizational performance.

Research on leadership and trustworthiness improves employee engagement in a virtual environment is the contribution of this study.

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Leadership, trustworthiness and employee engagement: an insight during the COVID-1910.1108/JEAS-08-2022-0183Journal of Economic and Administrative Sciences2023-09-19© 2023 Emerald Publishing LimitedAnuradha IddagodaHiranya DissanayakeAnna BagienskaJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-09-1910.1108/JEAS-08-2022-0183https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2022-0183/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Governance, regulatory quality and financial institutions: emerging economies perspectivehttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2022-0184/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe study evaluates the effects of governance and other regulatory structures on the development of financial institutions in the subregion of sub-Saharan Africa (SSA). Data for the analyses were compiled from relevant sources from 1996 to 2019 from a sample of 36 countries in the subregion. Empirical analyses were carried out using the Prais-Winsten panel corrected standard errors panel estimation technique augmented by pooled ordinary least squares with Driscoll and Kraay (1998) standard errors model. Findings from the study suggest that governance and institutional quality index, as well as individual governance and regulatory variables, have positive effect on the development of financial institutions among economies in SSA. Further empirical estimates show that output growth volatility has negative moderating impact on the relationship between effective governance, control of corruption, rule of law, regulatory quality, voice and accountability, and development of financial institutions. Additionally, the results show that during periods of heightened macroeconomic risk, financial institutions could benefit from improved governance and effective regulatory structures. Compared to related studies that have reviewed the discourse on financial institutions, this study rather focuses on how governance structures and institutions influence development of financial institutions instead of the impact of financial institution on the broader economy. The authors further augment this interaction by examining how the relationship in question may be moderated by macroeconomic shocks.Governance, regulatory quality and financial institutions: emerging economies perspective
Rexford Abaidoo, Elvis Kwame Agyapong
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The study evaluates the effects of governance and other regulatory structures on the development of financial institutions in the subregion of sub-Saharan Africa (SSA).

Data for the analyses were compiled from relevant sources from 1996 to 2019 from a sample of 36 countries in the subregion. Empirical analyses were carried out using the Prais-Winsten panel corrected standard errors panel estimation technique augmented by pooled ordinary least squares with Driscoll and Kraay (1998) standard errors model.

Findings from the study suggest that governance and institutional quality index, as well as individual governance and regulatory variables, have positive effect on the development of financial institutions among economies in SSA. Further empirical estimates show that output growth volatility has negative moderating impact on the relationship between effective governance, control of corruption, rule of law, regulatory quality, voice and accountability, and development of financial institutions. Additionally, the results show that during periods of heightened macroeconomic risk, financial institutions could benefit from improved governance and effective regulatory structures.

Compared to related studies that have reviewed the discourse on financial institutions, this study rather focuses on how governance structures and institutions influence development of financial institutions instead of the impact of financial institution on the broader economy. The authors further augment this interaction by examining how the relationship in question may be moderated by macroeconomic shocks.

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Governance, regulatory quality and financial institutions: emerging economies perspective10.1108/JEAS-08-2022-0184Journal of Economic and Administrative Sciences2023-06-19© 2023 Emerald Publishing LimitedRexford AbaidooElvis Kwame AgyapongJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-06-1910.1108/JEAS-08-2022-0184https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2022-0184/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Assessing non-linear effects of government size on inflation in India: recent evidence from smooth transition autoregression modelhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2022-0190/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestStandard economic theory predicts that any increase in public spending is accompanied by a rise in inflation in an economy. This paper presents empirical proof that prices do not always rise with an increase in public expenditure but only up to a certain threshold level. The primary aim of this paper is to unearth the government size-inflation nexus in India for the period from 1971 to 2019. The logistic STAR (smooth transition autoregression) model is employed to unravel the government size-inflation nexus for the Indian economy from a non-linear perspective. The finding of our study confirm the non-linear relationship between the size of the government and inflation in India. The estimated threshold level for government size is precisely found to be 9.27%. The size of the government exerts a negative influence on inflation until it reaches the optimal or threshold level. Any further increase in the size of government beyond this threshold level would result in a rise in inflation. The findings have implications for the conduct of fiscal policy. Policymakers can increase government spending in a regime of small government size without having any inflationary impacts by generating revenues from taxes and other sources instead of relying much on the central bank. In the regime of a large-sized government, adhering strictly to the discipline in the conduct of fiscal and monetary policies would help curb inflation and enhance growth synchronously, hence alleviating any loss of welfare. To the best of the authors’ knowledge, this study is an attempt to revisit the government size-inflation nexus in India from a non-linear perspective using the Smooth Transition Autoregression (STAR) model for the first time.Assessing non-linear effects of government size on inflation in India: recent evidence from smooth transition autoregression model
Asif Tariq, Masroor Ahmad, Aadil Amin
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Standard economic theory predicts that any increase in public spending is accompanied by a rise in inflation in an economy. This paper presents empirical proof that prices do not always rise with an increase in public expenditure but only up to a certain threshold level. The primary aim of this paper is to unearth the government size-inflation nexus in India for the period from 1971 to 2019.

The logistic STAR (smooth transition autoregression) model is employed to unravel the government size-inflation nexus for the Indian economy from a non-linear perspective.

The finding of our study confirm the non-linear relationship between the size of the government and inflation in India. The estimated threshold level for government size is precisely found to be 9.27%. The size of the government exerts a negative influence on inflation until it reaches the optimal or threshold level. Any further increase in the size of government beyond this threshold level would result in a rise in inflation.

The findings have implications for the conduct of fiscal policy. Policymakers can increase government spending in a regime of small government size without having any inflationary impacts by generating revenues from taxes and other sources instead of relying much on the central bank. In the regime of a large-sized government, adhering strictly to the discipline in the conduct of fiscal and monetary policies would help curb inflation and enhance growth synchronously, hence alleviating any loss of welfare.

To the best of the authors’ knowledge, this study is an attempt to revisit the government size-inflation nexus in India from a non-linear perspective using the Smooth Transition Autoregression (STAR) model for the first time.

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Assessing non-linear effects of government size on inflation in India: recent evidence from smooth transition autoregression model10.1108/JEAS-08-2022-0190Journal of Economic and Administrative Sciences2022-11-15© 2022 Emerald Publishing LimitedAsif TariqMasroor AhmadAadil AminJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-11-1510.1108/JEAS-08-2022-0190https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2022-0190/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Effect of employees' CSR perceptions on affective commitment: exploring multiple mediation mechanismshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2022-0191/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to empirically examine how corporate social responsibility (CSR) facilitates the employee's affective commitment in the hospitality sector. A total of 408 questionnaires were distributed among the employees of the selected 13 hotels in Delhi-National capital region (NCR). Structural equation modeling (SEM) was employed to test the proposed hypotheses. The study results confirm that CSR has a positive influence on the employees' affective commitment. Further, this study demonstrates that CSR facilitates work meaningfulness and trust among employees and consequently enhances employees' commitment. This study enhances the understanding of the CSR-affective commitment link in the hospitality sector. This will add a new perspective to the literature, especially in the context of micro-foundation factors of “work meaningfulness” and “organizational trust.”Effect of employees' CSR perceptions on affective commitment: exploring multiple mediation mechanisms
Shafat Maqbool, Nazir A. Nazir
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to empirically examine how corporate social responsibility (CSR) facilitates the employee's affective commitment in the hospitality sector.

A total of 408 questionnaires were distributed among the employees of the selected 13 hotels in Delhi-National capital region (NCR). Structural equation modeling (SEM) was employed to test the proposed hypotheses.

The study results confirm that CSR has a positive influence on the employees' affective commitment. Further, this study demonstrates that CSR facilitates work meaningfulness and trust among employees and consequently enhances employees' commitment.

This study enhances the understanding of the CSR-affective commitment link in the hospitality sector. This will add a new perspective to the literature, especially in the context of micro-foundation factors of “work meaningfulness” and “organizational trust.”

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Effect of employees' CSR perceptions on affective commitment: exploring multiple mediation mechanisms10.1108/JEAS-08-2022-0191Journal of Economic and Administrative Sciences2023-01-26© 2022 Emerald Publishing LimitedShafat MaqboolNazir A. NazirJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-01-2610.1108/JEAS-08-2022-0191https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2022-0191/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Banking sector performance and FDI inflows in Bangladesh: exploring the unexploredhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2022-0193/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis research paper attempts to empirically examine the relationship between the performance of the banking industry and foreign direct investment (FDI), thereby helping the readers contemplate one of the least explored areas of the existing literature associated with the idiosyncratic characteristics of FDI resulting from its interaction with the efficient banking performance of the host country. The study has focused on the economy of Bangladesh because of its significant amount of FDI inflows from the rest of the world and its adoption of many liberalization policies, especially in the banking sector and in the areas of international business and trade. The study, to produce unbiased estimates, employed the autoregressive distributed lag (ARDL) model for analyzing the time series data collected from reliable sources. The key outcomes of the study reveal that the sound performance of the banking industry appears to be counterproductive for FDI inflows, which is a bit unconventional insight. In the context of Bangladesh, trade openness, inflation rate and infrastructural development seem to be the dominant factors behind the rising inflows of FDI. Market size appears to be an insignificant determinant of FDI inflows. This is a unique study because of its focus on the unexplored area in the literature.Banking sector performance and FDI inflows in Bangladesh: exploring the unexplored
Md Badrul Alam, Aziz Ullah Sayal, Muhammad Naveed Jan, Muhammad Tahir
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This research paper attempts to empirically examine the relationship between the performance of the banking industry and foreign direct investment (FDI), thereby helping the readers contemplate one of the least explored areas of the existing literature associated with the idiosyncratic characteristics of FDI resulting from its interaction with the efficient banking performance of the host country. The study has focused on the economy of Bangladesh because of its significant amount of FDI inflows from the rest of the world and its adoption of many liberalization policies, especially in the banking sector and in the areas of international business and trade.

The study, to produce unbiased estimates, employed the autoregressive distributed lag (ARDL) model for analyzing the time series data collected from reliable sources.

The key outcomes of the study reveal that the sound performance of the banking industry appears to be counterproductive for FDI inflows, which is a bit unconventional insight. In the context of Bangladesh, trade openness, inflation rate and infrastructural development seem to be the dominant factors behind the rising inflows of FDI. Market size appears to be an insignificant determinant of FDI inflows.

This is a unique study because of its focus on the unexplored area in the literature.

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Banking sector performance and FDI inflows in Bangladesh: exploring the unexplored10.1108/JEAS-08-2022-0193Journal of Economic and Administrative Sciences2023-01-27© 2023 Emerald Publishing LimitedMd Badrul AlamAziz Ullah SayalMuhammad Naveed JanMuhammad TahirJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-01-2710.1108/JEAS-08-2022-0193https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2022-0193/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Expectation confirmation and assimilation of enterprise technologyhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2022-0198/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestEnterprise information systems (EISs) are intricate technological artifacts with wide user base within organizations. While much is known about the adoption and implementation of EISs, little is known about what subsequently follows them, i.e. the assimilation of EISs. This article aims to examine the assimilation of the EISs which is consequential to realizing any benefits from such enterprise technology. The author conceptually draws on the insights from the expectation confirmation theory, theory of reasoned action, equity theory, and prospect theory to examine the assimilation of the EISs. In doing so, the author generates competing testable hypotheses regarding the relationship between individual users' psychological and social influences through expectation (dis)confirmation and the users' intention to assimilate the EISs. By conceptually articulating the individual users' psychological and social influences through expectation (dis)confirmation, the author offers a more complete account of the assimilation of EISs, and provide several avenues for future empirical and theoretical research on enterprise technology assimilation. The extant research that there is on the assimilation of the EISs focuses more on the organizational – as opposed to individual – level determinants of EISs assimilation and largely considers the functional – rather than psychological and social – drivers. This article addresses these important, yet understudied, factors to offer a more nuanced account of EISs assimilation.Expectation confirmation and assimilation of enterprise technology
Pooria Assadi
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Enterprise information systems (EISs) are intricate technological artifacts with wide user base within organizations. While much is known about the adoption and implementation of EISs, little is known about what subsequently follows them, i.e. the assimilation of EISs. This article aims to examine the assimilation of the EISs which is consequential to realizing any benefits from such enterprise technology.

The author conceptually draws on the insights from the expectation confirmation theory, theory of reasoned action, equity theory, and prospect theory to examine the assimilation of the EISs. In doing so, the author generates competing testable hypotheses regarding the relationship between individual users' psychological and social influences through expectation (dis)confirmation and the users' intention to assimilate the EISs.

By conceptually articulating the individual users' psychological and social influences through expectation (dis)confirmation, the author offers a more complete account of the assimilation of EISs, and provide several avenues for future empirical and theoretical research on enterprise technology assimilation.

The extant research that there is on the assimilation of the EISs focuses more on the organizational – as opposed to individual – level determinants of EISs assimilation and largely considers the functional – rather than psychological and social – drivers. This article addresses these important, yet understudied, factors to offer a more nuanced account of EISs assimilation.

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Expectation confirmation and assimilation of enterprise technology10.1108/JEAS-08-2022-0198Journal of Economic and Administrative Sciences2023-05-25© 2023 Emerald Publishing LimitedPooria AssadiJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-05-2510.1108/JEAS-08-2022-0198https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2022-0198/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
The relationship between board gender diversity and audit quality in Egypthttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2022-0199/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to examine whether female representation on boards is significantly associated with audit fees paid by top Egyptian listed companies. The authors collect data on audit fees, board of directors' characteristics and financial data for the top 100 companies listed on the Egyptian Exchange (EGX100) for a period of six years. The authors employ an ordinary least squares regression model to capture the relationship between board diversity (i.e. the proportion of female board directors) and the natural logarithm of audit fees while controlling for firm and industry fixed effects as well as other known firm characteristics. The authors find that audit fees are significantly associated with the proportion of females serving on firms' boards of directors. The findings suggest a complementary relationship between females on boards, as a quality-enhancing board attribute; and audit fees, as a proxy for audit effort and audit quality. Limitations of this study arise first from the relatively small sample size, and second from the fact that inferences may be specific to the Egyptian context and similar markets. The results have important implications for Egyptian policy makers and regulators in terms of board composition. This study provides empirical evidence that further enforces the business case for women's empowerment and the impact of this on the effectiveness of corporate governance. To the best of the authors’ knowledge, this is the first archival study to examine the association between female board representation and audit fees in Egypt.The relationship between board gender diversity and audit quality in Egypt
Ahmed Abdel-Meguid, Mostafa Abuzeid, Moataz El-Helaly, Nermeen Shehata
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to examine whether female representation on boards is significantly associated with audit fees paid by top Egyptian listed companies.

The authors collect data on audit fees, board of directors' characteristics and financial data for the top 100 companies listed on the Egyptian Exchange (EGX100) for a period of six years. The authors employ an ordinary least squares regression model to capture the relationship between board diversity (i.e. the proportion of female board directors) and the natural logarithm of audit fees while controlling for firm and industry fixed effects as well as other known firm characteristics.

The authors find that audit fees are significantly associated with the proportion of females serving on firms' boards of directors. The findings suggest a complementary relationship between females on boards, as a quality-enhancing board attribute; and audit fees, as a proxy for audit effort and audit quality.

Limitations of this study arise first from the relatively small sample size, and second from the fact that inferences may be specific to the Egyptian context and similar markets.

The results have important implications for Egyptian policy makers and regulators in terms of board composition.

This study provides empirical evidence that further enforces the business case for women's empowerment and the impact of this on the effectiveness of corporate governance.

To the best of the authors’ knowledge, this is the first archival study to examine the association between female board representation and audit fees in Egypt.

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The relationship between board gender diversity and audit quality in Egypt10.1108/JEAS-08-2022-0199Journal of Economic and Administrative Sciences2023-09-29© 2023 Emerald Publishing LimitedAhmed Abdel-MeguidMostafa AbuzeidMoataz El-HelalyNermeen ShehataJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-09-2910.1108/JEAS-08-2022-0199https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2022-0199/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Corruption, crime and investments by firms in emerging economieshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2022-0200/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe study aims to investigate the effect of corruption and crime on the investments by firms in emerging economies (EEs). The study adopts the generalised methods of moments (GMM) estimator and data across 57 EEs. The study shows that crime management, corruption and external quality assurance drive-up investments. Additionally, investments decline with firm age and crime incidence. Corruption and crime managements increase investments by exporting firms more than non-exporting firms investments. Also, external auditor services benefit investments by large firms more than small-medium firms. There is a need for EEs to implement policies that will curtail corruption and create a level playing field and sustainable firm growth. EEs firms must be innovative to expand their productive investments and grow over time. Also, EEs firms should seek external quality certification, invest in internal security and monitor goods in transit.Corruption, crime and investments by firms in emerging economies
Nicholas Addai Boamah, Francis Ofori-Yeboah, Martin Owusu-Ansah
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The study aims to investigate the effect of corruption and crime on the investments by firms in emerging economies (EEs).

The study adopts the generalised methods of moments (GMM) estimator and data across 57 EEs.

The study shows that crime management, corruption and external quality assurance drive-up investments. Additionally, investments decline with firm age and crime incidence. Corruption and crime managements increase investments by exporting firms more than non-exporting firms investments. Also, external auditor services benefit investments by large firms more than small-medium firms.

There is a need for EEs to implement policies that will curtail corruption and create a level playing field and sustainable firm growth. EEs firms must be innovative to expand their productive investments and grow over time. Also, EEs firms should seek external quality certification, invest in internal security and monitor goods in transit.

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Corruption, crime and investments by firms in emerging economies10.1108/JEAS-08-2022-0200Journal of Economic and Administrative Sciences2023-05-30© 2023 Emerald Publishing LimitedNicholas Addai BoamahFrancis Ofori-YeboahMartin Owusu-AnsahJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-05-3010.1108/JEAS-08-2022-0200https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2022-0200/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Testing convergence hypothesis for EU countries: a heterogenous panel data approachhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2022-0202/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis article investigates the validity of the different types (conditional, unconditional, deterministic, stochastic) of ß-convergence in per capita GDP for EU-28 and EU-19 between 1990 and 2019. The study uses nonstationary heterogeneous panel-data methodology. The panel data reveal that both conditional and unconditional ß-convergence are valid in EU-28 countries However, only conditional convergence exists in EU-19 countries; group-specific findings show that the income levels of 10-EU countries converge toward the EU-19 average and 11-EU countries converge to the EU-28. The convergence speed to EU average varies between 15 and 18%. The robustness of the augmented mean group (AMG) findings are checked with common correlated effects mean group (CCEMG) and are consistent. Moreover, panel unit root tests are applied to examine the stochastic and deterministic convergence of the average EU per capita income in the two groups of EU economies. The findings show no evidence of deterministic or stochastic convergence in EU countries. Besides, conditional convergence has not been experienced in countries such as Bulgaria, Croatia, Czech Republic, Hungary, Latvia, Malta, Romania, Slovakia and Slovenia, which are new members of the EU. As a remarkable aspect of the study, the evidence suggests that the Brexit is economically rational for the UK. The growth and convergence processes of economies differ from each other. Convergence studies in the literature are generally based on the cross-section OLS methodology. In this context, the study is one of the rare studies to examine convergence using heterogeneous panel techniques and allows the convergence of countries to the EU average to be analyzed individually.Testing convergence hypothesis for EU countries: a heterogenous panel data approach
Devran Sanli, Ramazan Arslan
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This article investigates the validity of the different types (conditional, unconditional, deterministic, stochastic) of ß-convergence in per capita GDP for EU-28 and EU-19 between 1990 and 2019.

The study uses nonstationary heterogeneous panel-data methodology.

The panel data reveal that both conditional and unconditional ß-convergence are valid in EU-28 countries However, only conditional convergence exists in EU-19 countries; group-specific findings show that the income levels of 10-EU countries converge toward the EU-19 average and 11-EU countries converge to the EU-28. The convergence speed to EU average varies between 15 and 18%. The robustness of the augmented mean group (AMG) findings are checked with common correlated effects mean group (CCEMG) and are consistent. Moreover, panel unit root tests are applied to examine the stochastic and deterministic convergence of the average EU per capita income in the two groups of EU economies. The findings show no evidence of deterministic or stochastic convergence in EU countries. Besides, conditional convergence has not been experienced in countries such as Bulgaria, Croatia, Czech Republic, Hungary, Latvia, Malta, Romania, Slovakia and Slovenia, which are new members of the EU. As a remarkable aspect of the study, the evidence suggests that the Brexit is economically rational for the UK.

The growth and convergence processes of economies differ from each other. Convergence studies in the literature are generally based on the cross-section OLS methodology. In this context, the study is one of the rare studies to examine convergence using heterogeneous panel techniques and allows the convergence of countries to the EU average to be analyzed individually.

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Testing convergence hypothesis for EU countries: a heterogenous panel data approach10.1108/JEAS-08-2022-0202Journal of Economic and Administrative Sciences2023-02-27© 2022 Emerald Publishing LimitedDevran SanliRamazan ArslanJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-02-2710.1108/JEAS-08-2022-0202https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2022-0202/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Investigating the agriculture-induced environmental Kuznets curve hypothesis in South Asian economieshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2023-0212/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe main purpose of this study is to investigate the agriculture-induced environmental Kuznets curve (EKC) hypothesis in South Asian economies (SAE). This study employs econometric techniques, including Westerlund cointegration tests, cross-sectional augmented distributive lag model (CS-ARDL) and Dumitrescu and Hurlin (DH) causality tests to investigate the relationship between renewable and non-renewable energy consumption, agriculture, economic growth, financial development and carbon emissions in SAE from 1990 to 2019. The CS-ARDL test outcome supports the presence of the agriculture-induced EKC hypothesis in SAE. Additionally, through the application of the DH causality test, the study confirms a unidirectional causality running from renewable energy consumption (REC), fossil fuel consumption (FFC), economic growth (GDP) and squared economic growth (GDP2) to carbon dioxide (CO2) emissions. This study proposes that future research should extend comparisons to worldwide intergovernmental bodies, use advanced econometric methodologies for accurate estimates, and investigate incorporating the service or primary sector into the EKC. Such multidimensional studies can inform various methods for mitigating global climate change and ensuring ecological sustainability. Environmental degradation has been extensively studied in different regions and countries, but SAE face significant constraints in addressing this issue, and comprehensive studies in this area are scarce. This research is pioneering as it is the first study to investigate the applicability of the agriculture-induced EKC in the South Asian region. By filling this gap in the current literature, the study provides valuable insights into major SAE and their environmental challenges.Investigating the agriculture-induced environmental Kuznets curve hypothesis in South Asian economies
Anam Ul Haq Ganie, Arif Mohd Khah, Masroor Ahmad
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The main purpose of this study is to investigate the agriculture-induced environmental Kuznets curve (EKC) hypothesis in South Asian economies (SAE).

This study employs econometric techniques, including Westerlund cointegration tests, cross-sectional augmented distributive lag model (CS-ARDL) and Dumitrescu and Hurlin (DH) causality tests to investigate the relationship between renewable and non-renewable energy consumption, agriculture, economic growth, financial development and carbon emissions in SAE from 1990 to 2019.

The CS-ARDL test outcome supports the presence of the agriculture-induced EKC hypothesis in SAE. Additionally, through the application of the DH causality test, the study confirms a unidirectional causality running from renewable energy consumption (REC), fossil fuel consumption (FFC), economic growth (GDP) and squared economic growth (GDP2) to carbon dioxide (CO2) emissions.

This study proposes that future research should extend comparisons to worldwide intergovernmental bodies, use advanced econometric methodologies for accurate estimates, and investigate incorporating the service or primary sector into the EKC. Such multidimensional studies can inform various methods for mitigating global climate change and ensuring ecological sustainability.

Environmental degradation has been extensively studied in different regions and countries, but SAE face significant constraints in addressing this issue, and comprehensive studies in this area are scarce. This research is pioneering as it is the first study to investigate the applicability of the agriculture-induced EKC in the South Asian region. By filling this gap in the current literature, the study provides valuable insights into major SAE and their environmental challenges.

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Investigating the agriculture-induced environmental Kuznets curve hypothesis in South Asian economies10.1108/JEAS-08-2023-0212Journal of Economic and Administrative Sciences2024-01-10© 2023 Emerald Publishing LimitedAnam Ul Haq GanieArif Mohd KhahMasroor AhmadJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2024-01-1010.1108/JEAS-08-2023-0212https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2023-0212/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Influence of governance indicators on public debt accumulation in Africahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2023-0227/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe unsustainable public debt of most African economies adversely affects their economic growth and stability. This study aims to explore the influence of cross-country indicators of governance from African countries on public debt accumulation. The study deployed a quantitative research design technique. Secondary data was used in this study. The frequency of the data is annual, and it is available from 1996 to 2022 for 48 countries in Africa. The study deployed the system generalized method of moments for the estimation. The study finds that countries with high regulatory quality standards, control corruption and ensure effective governance accumulate less government debt while countries that abide by the rule of law instead accumulate more government debt. The study also finds that economic growth and government revenue reduce government gross debt while government expenditure and investments increase public debt. Due to data unavailability, other factors which are likely to influence government debt accumulation were not included in the study as control variables. This is the limitation of the study. African governments should strive to maintain high regulatory quality standards through the formulation and implementation of sound policies and regulations that permit and promote private sector development, and ensure quality and accountability of public and civil services. Governments are also urged to control corruption and enact good laws so that the enforcement of these laws will not worsen the risk of becoming debt-distressed. Recent studies on governance and public debt were focused on the Arabian Gulf countries, countries of the Middle East and North Africa (MENA) region and a combination of high and low-income countries. This study scrutinizes exclusively the effects of the quality of governance indicators on public debt accumulation, in the context of Africa.Influence of governance indicators on public debt accumulation in Africa
Anselm Komla Abotsi
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The unsustainable public debt of most African economies adversely affects their economic growth and stability. This study aims to explore the influence of cross-country indicators of governance from African countries on public debt accumulation.

The study deployed a quantitative research design technique. Secondary data was used in this study. The frequency of the data is annual, and it is available from 1996 to 2022 for 48 countries in Africa. The study deployed the system generalized method of moments for the estimation.

The study finds that countries with high regulatory quality standards, control corruption and ensure effective governance accumulate less government debt while countries that abide by the rule of law instead accumulate more government debt. The study also finds that economic growth and government revenue reduce government gross debt while government expenditure and investments increase public debt.

Due to data unavailability, other factors which are likely to influence government debt accumulation were not included in the study as control variables. This is the limitation of the study.

African governments should strive to maintain high regulatory quality standards through the formulation and implementation of sound policies and regulations that permit and promote private sector development, and ensure quality and accountability of public and civil services. Governments are also urged to control corruption and enact good laws so that the enforcement of these laws will not worsen the risk of becoming debt-distressed.

Recent studies on governance and public debt were focused on the Arabian Gulf countries, countries of the Middle East and North Africa (MENA) region and a combination of high and low-income countries. This study scrutinizes exclusively the effects of the quality of governance indicators on public debt accumulation, in the context of Africa.

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Influence of governance indicators on public debt accumulation in Africa10.1108/JEAS-08-2023-0227Journal of Economic and Administrative Sciences2023-12-29© 2023 Emerald Publishing LimitedAnselm Komla AbotsiJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-12-2910.1108/JEAS-08-2023-0227https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2023-0227/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Audit committee characteristics, external audit quality, board diversity and firm performance: evidence from SAARC nationhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2023-0235/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this study is to investigate the association between three corporate governance (CG) idiosyncrasies, namely audit committee characteristics, external audit quality (AQ), board diversity and firm performance (FP) in the South Asian Association for Regional Cooperation (SAARC) nations. The study used a sample of 200 listed nonfinancial firms in the SAARC nations from 2012 to 2021. The System Generalized Method of Moment model was applied to the data consisting of 2000 firm-year observations. The Generalized Estimating Equation population-averaged model was also employed for added robustness. The study employed Tobin's Q as the measure of FP. The findings revealed that amongst the CG variables tested, external AQ exhibited a significantly positive relationship with Tobin's Q. Significant negative influences on FP have been demonstrated by the variables of audit committee meeting and board's independence. Furthermore, gender diversity, CEO duality, audit committee strength and independence failed to record any significant association. This study is one of the first to investigate the association between CG idiosyncrasies and FP in the SAARC nations. The study findings have important implications for policymakers and regulators in the region.Audit committee characteristics, external audit quality, board diversity and firm performance: evidence from SAARC nation
Niva Kalita, Reshma Kumari Tiwari
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this study is to investigate the association between three corporate governance (CG) idiosyncrasies, namely audit committee characteristics, external audit quality (AQ), board diversity and firm performance (FP) in the South Asian Association for Regional Cooperation (SAARC) nations.

The study used a sample of 200 listed nonfinancial firms in the SAARC nations from 2012 to 2021. The System Generalized Method of Moment model was applied to the data consisting of 2000 firm-year observations. The Generalized Estimating Equation population-averaged model was also employed for added robustness. The study employed Tobin's Q as the measure of FP.

The findings revealed that amongst the CG variables tested, external AQ exhibited a significantly positive relationship with Tobin's Q. Significant negative influences on FP have been demonstrated by the variables of audit committee meeting and board's independence. Furthermore, gender diversity, CEO duality, audit committee strength and independence failed to record any significant association.

This study is one of the first to investigate the association between CG idiosyncrasies and FP in the SAARC nations. The study findings have important implications for policymakers and regulators in the region.

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Audit committee characteristics, external audit quality, board diversity and firm performance: evidence from SAARC nation10.1108/JEAS-08-2023-0235Journal of Economic and Administrative Sciences2023-11-23© 2023 Emerald Publishing LimitedNiva KalitaReshma Kumari TiwariJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-11-2310.1108/JEAS-08-2023-0235https://www.emerald.com/insight/content/doi/10.1108/JEAS-08-2023-0235/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Evaluating the role of microfinance institutions in enhancing the livelihood of urban poorhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2021-0175/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe goal of this research is to look at how urban microfinance affects livelihood transformation in terms of poverty reduction, living standards, social well-being, empowerment and entrepreneurship. This paper analyses the role of urban microfinance towards livelihood with special reference to Western Uttar Pradesh. Primary data were collected from 321 respondents who are users of a microfinance programme using a standardised questionnaire. The data were collected using a stratified random sampling technique, and the data were analysed using structural equation modelling. Urban microfinance has a considerable impact on poverty reduction, the standard of living, social well-being, empowerment and entrepreneurship in the urban poor, according to the findings. The fact that the majority of the borrowers were uneducated was the most significant barrier to them filling out the questionnaire. Their anxiety was the most significant psychological obstacle to successfully answering the questions, and it took time. As a result, it is urged that proper counselling be conducted before the poor borrowers fill out the questionnaire. The current study highlights the factors that lead to the utilisation of microfinance services. This research will aid MFIs in selecting the appropriate products and services for the urban poor. The results of this study will aid them in understanding and meeting the expectations of microfinance CEOs. This is a first study conducted in Northern zone of India measuring the roles urban microfinance institutions (MFIs) in uplifting the livelihood of urban poor.Evaluating the role of microfinance institutions in enhancing the livelihood of urban poor
Nazia Hasan, Anjani Kumar Singh, Manoj Kumar Agarwal, Bijay Prasad Kushwaha
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The goal of this research is to look at how urban microfinance affects livelihood transformation in terms of poverty reduction, living standards, social well-being, empowerment and entrepreneurship.

This paper analyses the role of urban microfinance towards livelihood with special reference to Western Uttar Pradesh. Primary data were collected from 321 respondents who are users of a microfinance programme using a standardised questionnaire. The data were collected using a stratified random sampling technique, and the data were analysed using structural equation modelling.

Urban microfinance has a considerable impact on poverty reduction, the standard of living, social well-being, empowerment and entrepreneurship in the urban poor, according to the findings.

The fact that the majority of the borrowers were uneducated was the most significant barrier to them filling out the questionnaire. Their anxiety was the most significant psychological obstacle to successfully answering the questions, and it took time. As a result, it is urged that proper counselling be conducted before the poor borrowers fill out the questionnaire.

The current study highlights the factors that lead to the utilisation of microfinance services. This research will aid MFIs in selecting the appropriate products and services for the urban poor. The results of this study will aid them in understanding and meeting the expectations of microfinance CEOs.

This is a first study conducted in Northern zone of India measuring the roles urban microfinance institutions (MFIs) in uplifting the livelihood of urban poor.

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Evaluating the role of microfinance institutions in enhancing the livelihood of urban poor10.1108/JEAS-09-2021-0175Journal of Economic and Administrative Sciences2022-06-07© 2022 Emerald Publishing LimitedNazia HasanAnjani Kumar SinghManoj Kumar AgarwalBijay Prasad KushwahaJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-06-0710.1108/JEAS-09-2021-0175https://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2021-0175/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Electricity consumption and industrial output: fresh evidence from economic community of West African states (ECOWAS)https://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2021-0177/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe current wave of decreasing electricity supply to meet the immediate demand of the populace is influencing not only economic growth but also the industrial productivity of the ECOWAS sub-region. In this context, this paper investigates the long-run and causal relationships between electricity consumption and industrial output in selected ECOWAS countries over the period 1971–2017. The Autoregressive Distributed Lag (ARDL) bound testing approach is employed to determine the existence of relationships among the variables. The causal nexus between electricity consumption and industrial output is examined using both the Toda-Yamamoto causality test and the bootstrap-corrected causality technique. The long run results indicated that increasing electricity supply enhances industrial output only in Benin, Cote d'Ivoire, Gambia, Guinea, Liberia, Nigeria, Senegal, and Sierra Leone. Furthermore, the causality test results confirmed the presence of all four hypotheses in this study, but the two causality tests agree, particularly in the evidence of growth and neutrality hypotheses. In the cases of Benin, Burkina Faso, Gambia, Ghana, Nigeria, and Sierra Leone, a unilateral causality running from electricity consumption to industrial output is found. However, no evidence of causality between electricity consumption and industrial production has been confirmed in Cote d'Ivoire, Guinea Bissau, Liberia and Niger. The relevant energy stakeholders in the subregion need to reprioritize their policy framework to focus more on the electricity sector of their economies since electricity consumption is identified as an important driver of industrial growth in the West African countries. This is the first study to provide a comparative and country-specific investigation of the nexus between electricity consumption and industrial output in Africa, particularly in the West African region.Electricity consumption and industrial output: fresh evidence from economic community of West African states (ECOWAS)
Olufemi Gbenga Onatunji
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The current wave of decreasing electricity supply to meet the immediate demand of the populace is influencing not only economic growth but also the industrial productivity of the ECOWAS sub-region. In this context, this paper investigates the long-run and causal relationships between electricity consumption and industrial output in selected ECOWAS countries over the period 1971–2017.

The Autoregressive Distributed Lag (ARDL) bound testing approach is employed to determine the existence of relationships among the variables. The causal nexus between electricity consumption and industrial output is examined using both the Toda-Yamamoto causality test and the bootstrap-corrected causality technique.

The long run results indicated that increasing electricity supply enhances industrial output only in Benin, Cote d'Ivoire, Gambia, Guinea, Liberia, Nigeria, Senegal, and Sierra Leone. Furthermore, the causality test results confirmed the presence of all four hypotheses in this study, but the two causality tests agree, particularly in the evidence of growth and neutrality hypotheses. In the cases of Benin, Burkina Faso, Gambia, Ghana, Nigeria, and Sierra Leone, a unilateral causality running from electricity consumption to industrial output is found. However, no evidence of causality between electricity consumption and industrial production has been confirmed in Cote d'Ivoire, Guinea Bissau, Liberia and Niger.

The relevant energy stakeholders in the subregion need to reprioritize their policy framework to focus more on the electricity sector of their economies since electricity consumption is identified as an important driver of industrial growth in the West African countries.

This is the first study to provide a comparative and country-specific investigation of the nexus between electricity consumption and industrial output in Africa, particularly in the West African region.

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Electricity consumption and industrial output: fresh evidence from economic community of West African states (ECOWAS)10.1108/JEAS-09-2021-0177Journal of Economic and Administrative Sciences2022-08-18© 2022 Emerald Publishing LimitedOlufemi Gbenga OnatunjiJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-08-1810.1108/JEAS-09-2021-0177https://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2021-0177/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
The impact of COVID-19 on conventional and Islamic stocks: empirical evidence from Pakistanhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2021-0180/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this study is to investigate the impact of COVID-19 on conventional and Islamic stocks by using the data spanning from February 25, 2020, to February 3, 2021, and employing a panel regression approach. In this study a panel regression approach has been used. The study finds a negative association between COVID-19 and stock (both Islamic and conventional). After splitting the data into 1st and 2nd waves, the relationship between COVID-19 and stock (both Islamic and conventional) remains the same (negative) in the case of the 1st wave. In contrast, in the case of the 2nd wave, the relationship turned out to be positive. During both waves of the pandemic, the magnitude of the effect is found to be higher for conventional stocks. Additionally, the study also analyzes the aggregate influence of COVID-19 on different sectors and finds that commercial banks, oil and gas exploration and marketing companies are the most influenced sectors. At the same time, automobiles and pharma are the least affected sectors. The study suggests that markets start gaining momentum to reach their prepandemic level after absorbing the initial shock (emergence of a pandemic). The study also provides thorough insights for market regulators and policymakers by implying the dynamic relations between markets (conventional and Islamic) and financial crisis, which would allow them more effective control of crisis in future endeavors. This is one of the first studies to investigate the impact of COVID-19 on both conventional and Islamic stocks, especially in the context of Pakistan.The impact of COVID-19 on conventional and Islamic stocks: empirical evidence from Pakistan
Niaz Ahmed Bhutto, Shabeer Khan, Uzair Abdullah Khan, Anjlee Matlani
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this study is to investigate the impact of COVID-19 on conventional and Islamic stocks by using the data spanning from February 25, 2020, to February 3, 2021, and employing a panel regression approach.

In this study a panel regression approach has been used.

The study finds a negative association between COVID-19 and stock (both Islamic and conventional). After splitting the data into 1st and 2nd waves, the relationship between COVID-19 and stock (both Islamic and conventional) remains the same (negative) in the case of the 1st wave. In contrast, in the case of the 2nd wave, the relationship turned out to be positive. During both waves of the pandemic, the magnitude of the effect is found to be higher for conventional stocks. Additionally, the study also analyzes the aggregate influence of COVID-19 on different sectors and finds that commercial banks, oil and gas exploration and marketing companies are the most influenced sectors. At the same time, automobiles and pharma are the least affected sectors.

The study suggests that markets start gaining momentum to reach their prepandemic level after absorbing the initial shock (emergence of a pandemic). The study also provides thorough insights for market regulators and policymakers by implying the dynamic relations between markets (conventional and Islamic) and financial crisis, which would allow them more effective control of crisis in future endeavors.

This is one of the first studies to investigate the impact of COVID-19 on both conventional and Islamic stocks, especially in the context of Pakistan.

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The impact of COVID-19 on conventional and Islamic stocks: empirical evidence from Pakistan10.1108/JEAS-09-2021-0180Journal of Economic and Administrative Sciences2022-05-06© 2022 Emerald Publishing LimitedNiaz Ahmed BhuttoShabeer KhanUzair Abdullah KhanAnjlee MatlaniJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-05-0610.1108/JEAS-09-2021-0180https://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2021-0180/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Merton-type default risk and financial performance: the dynamic panel moderation of firm sizehttps://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2021-0181/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe main purpose of this study is to evaluate the probability of default and examine the relationship between default risk and financial performance, with dynamic panel moderation of firm size. This study utilizes a total of 1,500 firm-year observations from 2013 to 2018 using dynamic panel data approach of generalized method of moments to test the relationship between default risk and financial performance with the moderation effect of the firm size. This study establishes the findings that default risk significantly impacts the financial performance. The relationship between distance-to-default (DD) and financial performance is positive, which means the relationship of the independent and dependent variable is inverse. Moreover, this study finds that the firm size is a significant positive moderator between DD and financial performance. This study provides new and useful insight into the literature on the relationship between default risk and financial performance. The results of this study provide investors and businesses related to nonfinancial firms in the Pakistan Stock Exchange (PSX) with significant default risk's impact on performance. This study finds, on average, the default probability in KSE ALL indexed companies is 6.12%. The evidence of the default risk and financial performance on samples of nonfinancial firms has been minimal; mainly, it has been limited to the banking sector. Moreover, the existing studies have only catered the direct effect of only. This study fills that gap and evaluates this relationship in nonfinancial firms. This study also helps in the evaluation of Merton model's performance in the nonfinancial firms.Merton-type default risk and financial performance: the dynamic panel moderation of firm size
Muhammad Mushafiq, Syed Ahmad Sami, Muhammad Khalid Sohail, Muzammal Ilyas Sindhu
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The main purpose of this study is to evaluate the probability of default and examine the relationship between default risk and financial performance, with dynamic panel moderation of firm size.

This study utilizes a total of 1,500 firm-year observations from 2013 to 2018 using dynamic panel data approach of generalized method of moments to test the relationship between default risk and financial performance with the moderation effect of the firm size.

This study establishes the findings that default risk significantly impacts the financial performance. The relationship between distance-to-default (DD) and financial performance is positive, which means the relationship of the independent and dependent variable is inverse. Moreover, this study finds that the firm size is a significant positive moderator between DD and financial performance.

This study provides new and useful insight into the literature on the relationship between default risk and financial performance. The results of this study provide investors and businesses related to nonfinancial firms in the Pakistan Stock Exchange (PSX) with significant default risk's impact on performance. This study finds, on average, the default probability in KSE ALL indexed companies is 6.12%.

The evidence of the default risk and financial performance on samples of nonfinancial firms has been minimal; mainly, it has been limited to the banking sector. Moreover, the existing studies have only catered the direct effect of only. This study fills that gap and evaluates this relationship in nonfinancial firms. This study also helps in the evaluation of Merton model's performance in the nonfinancial firms.

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Merton-type default risk and financial performance: the dynamic panel moderation of firm size10.1108/JEAS-09-2021-0181Journal of Economic and Administrative Sciences2022-01-17© 2021 Emerald Publishing LimitedMuhammad MushafiqSyed Ahmad SamiMuhammad Khalid SohailMuzammal Ilyas SindhuJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-01-1710.1108/JEAS-09-2021-0181https://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2021-0181/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2021 Emerald Publishing Limited
Board diversity and working capital management strategies: evidence from energy sector of Pakistanhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2021-0183/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study investigates the mediating role of working capital management (WCM) efficiency between board diversity (based on gender and financial knowledge) and firm performance. The study further examines which WCM approach (conservative, moderate, and aggressive) they employ to increase (decrease) firm performance. The study employs listed energy firms of Pakistan over the period 2010 to 2019. The system generalized method of moments estimator and logit model are utilized to estimate the underlying relationships. The results show that WCM efficiency partially mediates the relationship between board financial expertise (BFE) and firm performance. Nonetheless, the presence of female directors is merely symbolic until they reach a certain level as only the quadratic term of board gender diversity (BGD) has a significant effect on firm performance. Female directors do not influence WCM efficiency. The results also demonstrate that BGD encourages a conservative WCM approach, while BFE encourages a moderate WCM approach. Furthermore, both conservative and moderate WCM approaches are significantly associated with firm performance. The findings hold implications for increasing the representation of women and financial experts on board to improve the capital structure decisions of the energy firms in Pakistan. This study is the first attempt to explore the mediating role of WCM efficiency between board diversity and firm performance. To the best of the authors' knowledge, no previous study has investigated the effect of BGD and BFE on different WCM approaches distinctly.Board diversity and working capital management strategies: evidence from energy sector of Pakistan
Ammar Nawaz Khan, Farzan Yahya, Muhammad Waqas
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study investigates the mediating role of working capital management (WCM) efficiency between board diversity (based on gender and financial knowledge) and firm performance. The study further examines which WCM approach (conservative, moderate, and aggressive) they employ to increase (decrease) firm performance.

The study employs listed energy firms of Pakistan over the period 2010 to 2019. The system generalized method of moments estimator and logit model are utilized to estimate the underlying relationships.

The results show that WCM efficiency partially mediates the relationship between board financial expertise (BFE) and firm performance. Nonetheless, the presence of female directors is merely symbolic until they reach a certain level as only the quadratic term of board gender diversity (BGD) has a significant effect on firm performance. Female directors do not influence WCM efficiency. The results also demonstrate that BGD encourages a conservative WCM approach, while BFE encourages a moderate WCM approach. Furthermore, both conservative and moderate WCM approaches are significantly associated with firm performance.

The findings hold implications for increasing the representation of women and financial experts on board to improve the capital structure decisions of the energy firms in Pakistan.

This study is the first attempt to explore the mediating role of WCM efficiency between board diversity and firm performance. To the best of the authors' knowledge, no previous study has investigated the effect of BGD and BFE on different WCM approaches distinctly.

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Board diversity and working capital management strategies: evidence from energy sector of Pakistan10.1108/JEAS-09-2021-0183Journal of Economic and Administrative Sciences2022-02-01© 2022 Emerald Publishing LimitedAmmar Nawaz KhanFarzan YahyaMuhammad WaqasJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-02-0110.1108/JEAS-09-2021-0183https://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2021-0183/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
GCC banks’ capital and liquidity: conventional versus Islamic bankshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2021-0188/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study strives to examine the relationship between bank capital and bank liquidity level considering the joint determination of both variables pointed out in the related literature. The evidence is from the Gulf Cooperation Council (GCC) countries: Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain and Oman. The theory of banking postulates that bank capital and bank liquidity are interrelated through various links. The study conjectures that large GCC banks do not have a concern with respect to liquidity due to the implicit guarantee of GCC wealthy governments to bank deposits. The study sample is comprised of all chartered GCC conventional and Islamic banks. The study employs several on-balance sheet ratios to proxy for bank capital and liquidity as defined in the banking literature. It also employs a related econometric model that considers the simultaneity issue pointed out in the related literature. The results of the study reveal that GCC banks react positively when facing illiquidity by strengthening their capital ratio. Further analysis reveals that only small GCC banks (conventional and Islamic) tend to increase their capital levels when facing a liquidity shortage, which confirms the study conjecture that larger GCC banks have no credible concern about their liquidity position. Employing an alternative measure of liquidity does not change the results. This finding supports the financial fragility structure and the crowding out of deposits hypotheses. The study contributes to the literature by employing a novel estimation approach to explore the difference in results as the sample banks represent two banking regimes, the conventional banks as well as the Islamic banks. Also, the study implicitly suggests that further research in this area could support the need to impose minimum and globally uninformed liquidity standards on banks.GCC banks’ capital and liquidity: conventional versus Islamic banks
Turki Alshammari
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study strives to examine the relationship between bank capital and bank liquidity level considering the joint determination of both variables pointed out in the related literature. The evidence is from the Gulf Cooperation Council (GCC) countries: Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain and Oman. The theory of banking postulates that bank capital and bank liquidity are interrelated through various links. The study conjectures that large GCC banks do not have a concern with respect to liquidity due to the implicit guarantee of GCC wealthy governments to bank deposits.

The study sample is comprised of all chartered GCC conventional and Islamic banks. The study employs several on-balance sheet ratios to proxy for bank capital and liquidity as defined in the banking literature. It also employs a related econometric model that considers the simultaneity issue pointed out in the related literature.

The results of the study reveal that GCC banks react positively when facing illiquidity by strengthening their capital ratio. Further analysis reveals that only small GCC banks (conventional and Islamic) tend to increase their capital levels when facing a liquidity shortage, which confirms the study conjecture that larger GCC banks have no credible concern about their liquidity position. Employing an alternative measure of liquidity does not change the results. This finding supports the financial fragility structure and the crowding out of deposits hypotheses.

The study contributes to the literature by employing a novel estimation approach to explore the difference in results as the sample banks represent two banking regimes, the conventional banks as well as the Islamic banks. Also, the study implicitly suggests that further research in this area could support the need to impose minimum and globally uninformed liquidity standards on banks.

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GCC banks’ capital and liquidity: conventional versus Islamic banks10.1108/JEAS-09-2021-0188Journal of Economic and Administrative Sciences2023-02-13© 2023 Emerald Publishing LimitedTurki AlshammariJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-02-1310.1108/JEAS-09-2021-0188https://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2021-0188/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Volatility spillovers among G7, E7 stock markets and cryptocurrencieshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2021-0190/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe existence of long memory and persistent volatility characteristics of cryptocurrencies justifies the investigation of return and volatility/shock spillovers between traditional financial market asset classes and cryptocurrencies. The purpose of this paper is to investigate the dynamic relationship between the cryptocurrencies, namely Bitcoin and Ethereum, and stock market indices of G7 and E7 countries to analyze the return and volatility spillover patterns among these markets by means of multivariate (MGARCH) approach. Applying the newly developed VAR-GARCH-in mean framework with the BEKK representation, the empirical results reveal that there exists an evidence of mean and volatility spillover effects among Bitcoin and Ethereum as the proxies for the cryptocurrencies, and stock markets reviewed. Interestingly, the direction of the return and volatility spillover effects is unidirectional in most E7 countries, but bidirectional relationship was found in most G7 countries. This can be explained as the presence of a strong return and volatility interaction among G7 stock markets and crypto market. Overall, the results of this study are of particular interest for portfolio management since it provides insights for financial market participants to make better portfolio allocation decisions. It is also increasingly important to understand the volatility transmission mechanism across these markets to provide policymakers and regulatory bodies with guidance to eliminate the negative impact of cryptocurrency's volatility on the stability of financial markets.Volatility spillovers among G7, E7 stock markets and cryptocurrencies
Berna Aydoğan, Gülin Vardar, Caner Taçoğlu
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The existence of long memory and persistent volatility characteristics of cryptocurrencies justifies the investigation of return and volatility/shock spillovers between traditional financial market asset classes and cryptocurrencies. The purpose of this paper is to investigate the dynamic relationship between the cryptocurrencies, namely Bitcoin and Ethereum, and stock market indices of G7 and E7 countries to analyze the return and volatility spillover patterns among these markets by means of multivariate (MGARCH) approach.

Applying the newly developed VAR-GARCH-in mean framework with the BEKK representation, the empirical results reveal that there exists an evidence of mean and volatility spillover effects among Bitcoin and Ethereum as the proxies for the cryptocurrencies, and stock markets reviewed.

Interestingly, the direction of the return and volatility spillover effects is unidirectional in most E7 countries, but bidirectional relationship was found in most G7 countries. This can be explained as the presence of a strong return and volatility interaction among G7 stock markets and crypto market.

Overall, the results of this study are of particular interest for portfolio management since it provides insights for financial market participants to make better portfolio allocation decisions. It is also increasingly important to understand the volatility transmission mechanism across these markets to provide policymakers and regulatory bodies with guidance to eliminate the negative impact of cryptocurrency's volatility on the stability of financial markets.

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Volatility spillovers among G7, E7 stock markets and cryptocurrencies10.1108/JEAS-09-2021-0190Journal of Economic and Administrative Sciences2022-01-11© 2021 Emerald Publishing LimitedBerna AydoğanGülin VardarCaner TaçoğluJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-01-1110.1108/JEAS-09-2021-0190https://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2021-0190/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2021 Emerald Publishing Limited
Determinants of bank income smoothing using loan loss provisions in the United Kingdomhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2021-0192/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper examines the determinants of bank income smoothing using loan loss provisions in the United Kingdom or Great Britain from 1999 to 2017. The study used ordinary least square (OLS) regression and applying the HAC robust standard error correction test. The findings showed that UK banks use loan loss provision for income smoothing purposes. Income smoothing is greater in times of high economic policy uncertainty. The extent of bank income smoothing is reduced by foreign bank presence, UK GAAP adoption, IFRS9 adoption, and high levels of voice and accountability. Also, there is reduced income smoothing using loan loss provisions during a financial crisis and in periods of economic prosperity. The implication is that economic conditions, institutional governance and accounting disclosure rules can influence the extent of bank income smoothing in the United Kingdom. The findings of the study contribute to several studies that explore the determinants of bank income smoothing. No study has extensively examined the determinants of bank income smoothing in Great Britain or the United Kingdom. The present study fills this gap in the literature.Determinants of bank income smoothing using loan loss provisions in the United Kingdom
Peterson K. Ozili
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper examines the determinants of bank income smoothing using loan loss provisions in the United Kingdom or Great Britain from 1999 to 2017.

The study used ordinary least square (OLS) regression and applying the HAC robust standard error correction test.

The findings showed that UK banks use loan loss provision for income smoothing purposes. Income smoothing is greater in times of high economic policy uncertainty. The extent of bank income smoothing is reduced by foreign bank presence, UK GAAP adoption, IFRS9 adoption, and high levels of voice and accountability. Also, there is reduced income smoothing using loan loss provisions during a financial crisis and in periods of economic prosperity.

The implication is that economic conditions, institutional governance and accounting disclosure rules can influence the extent of bank income smoothing in the United Kingdom. The findings of the study contribute to several studies that explore the determinants of bank income smoothing.

No study has extensively examined the determinants of bank income smoothing in Great Britain or the United Kingdom. The present study fills this gap in the literature.

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Determinants of bank income smoothing using loan loss provisions in the United Kingdom10.1108/JEAS-09-2021-0192Journal of Economic and Administrative Sciences2022-02-07© 2022 Emerald Publishing LimitedPeterson K. OziliJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-02-0710.1108/JEAS-09-2021-0192https://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2021-0192/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Generational cohorts and their predisposition toward entrepreneurship in an emerging economyhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2021-0194/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe study investigates the predisposition of generational cohorts toward entrepreneurship in an emerging economy as entrepreneurship has arguably become a panacea for unemployment and sustainable economic development. The study adopts descriptive and cross-sectional survey designs. The study also employs quantitative approach to collect the data from 1,000 workers in 20 selected private and public organizations in Ghana. The data were analyzed using descriptive statistics, correlation and hierarchical regression techniques. The results reveal that baby boomers and Generation Z (Gen Z) have a higher predisposition toward entrepreneurship, while Generation X (Gen X) and Generation Y (Gen Y) have a lower predisposition toward entrepreneurship. However, the study found that baby boomers are more predisposed to entrepreneurship than all the generational cohorts. Furthermore, a generation may become entrepreneurs regardless of their gender. Finally, individuals with higher educational qualification (i.e. masters and doctorate) are more likely to become entrepreneurs in a given generation. The findings imply that entrepreneurial opportunities (such as ease of doing business, favorable business regulations, access to credit facilities, low interest rate, ease of registering business, start-up capital, etc.) should be created by government and its stakeholders to serve as stimuli for members of these generations (particularly baby boomers and Gen Z) to participate fully in entrepreneurial activities. In addition, the culture of “go to college and graduate with the expectation of government employment” and “job for life” should be discouraged to allow members of Gen X and Gen Y build up entrepreneurial mindsets. This study contributes to generational cohorts and entrepreneurship literature by providing a perspective from the cultural and socio-economic background of an emerging economy. Additionally, this study demonstrates that irrespective of gender, one may become an entrepreneur and highly educated individuals tend be entrepreneurs.Generational cohorts and their predisposition toward entrepreneurship in an emerging economy
Helen Arkorful, Sam Kris Hilton, Fred Awaah
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The study investigates the predisposition of generational cohorts toward entrepreneurship in an emerging economy as entrepreneurship has arguably become a panacea for unemployment and sustainable economic development.

The study adopts descriptive and cross-sectional survey designs. The study also employs quantitative approach to collect the data from 1,000 workers in 20 selected private and public organizations in Ghana. The data were analyzed using descriptive statistics, correlation and hierarchical regression techniques.

The results reveal that baby boomers and Generation Z (Gen Z) have a higher predisposition toward entrepreneurship, while Generation X (Gen X) and Generation Y (Gen Y) have a lower predisposition toward entrepreneurship. However, the study found that baby boomers are more predisposed to entrepreneurship than all the generational cohorts. Furthermore, a generation may become entrepreneurs regardless of their gender. Finally, individuals with higher educational qualification (i.e. masters and doctorate) are more likely to become entrepreneurs in a given generation.

The findings imply that entrepreneurial opportunities (such as ease of doing business, favorable business regulations, access to credit facilities, low interest rate, ease of registering business, start-up capital, etc.) should be created by government and its stakeholders to serve as stimuli for members of these generations (particularly baby boomers and Gen Z) to participate fully in entrepreneurial activities. In addition, the culture of “go to college and graduate with the expectation of government employment” and “job for life” should be discouraged to allow members of Gen X and Gen Y build up entrepreneurial mindsets.

This study contributes to generational cohorts and entrepreneurship literature by providing a perspective from the cultural and socio-economic background of an emerging economy. Additionally, this study demonstrates that irrespective of gender, one may become an entrepreneur and highly educated individuals tend be entrepreneurs.

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Generational cohorts and their predisposition toward entrepreneurship in an emerging economy10.1108/JEAS-09-2021-0194Journal of Economic and Administrative Sciences2022-07-14© 2022 Emerald Publishing LimitedHelen ArkorfulSam Kris HiltonFred AwaahJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-07-1410.1108/JEAS-09-2021-0194https://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2021-0194/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Effect of competition on managerial practices: evidence from SMEs in the MENA regionhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2021-0197/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe aim of this paper is to document the impact of competition on managerial practices adopted by small and medium enterprises (SMEs). The paper uses the data provided by the World Bank’s Enterprise Surveys to test the arguments presented in this paper. The data were collected during the period between 2013 and 2014 and the sample consists of firms from Egypt, Jordan, Lebanon, Tunisia and Yemen. The authors show that SMEs with higher exposure to competition are more likely to adopt better managerial practices than SMEs with lower exposure to competition. The authors argue that competition disciplines the managers by exposing firms to the possibility of bankruptcy and/or the loss of market share to competitors. Therefore, these firms are compelled to adopt good managerial practices to protect themselves against negative impact of competition. The results show that positive impact of competition on managerial practices is confined only to the competition that comes from foreign competitors. Local competitors or competitors from informal sector have no significant impact on the adoption of good managerial practices. An important contribution of this paper is that it documents how various types of competition affect SME’s decision to adopt better managerial practices. Another important contribution is highlighting of the role played by the competition in shaping the management practices among SMEs in the MENA (Middle East and North Africa) region.Effect of competition on managerial practices: evidence from SMEs in the MENA region
Mukhammadfoik Bakhadirov, Omar Farooq
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The aim of this paper is to document the impact of competition on managerial practices adopted by small and medium enterprises (SMEs).

The paper uses the data provided by the World Bank’s Enterprise Surveys to test the arguments presented in this paper. The data were collected during the period between 2013 and 2014 and the sample consists of firms from Egypt, Jordan, Lebanon, Tunisia and Yemen.

The authors show that SMEs with higher exposure to competition are more likely to adopt better managerial practices than SMEs with lower exposure to competition. The authors argue that competition disciplines the managers by exposing firms to the possibility of bankruptcy and/or the loss of market share to competitors. Therefore, these firms are compelled to adopt good managerial practices to protect themselves against negative impact of competition. The results show that positive impact of competition on managerial practices is confined only to the competition that comes from foreign competitors. Local competitors or competitors from informal sector have no significant impact on the adoption of good managerial practices.

An important contribution of this paper is that it documents how various types of competition affect SME’s decision to adopt better managerial practices. Another important contribution is highlighting of the role played by the competition in shaping the management practices among SMEs in the MENA (Middle East and North Africa) region.

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Effect of competition on managerial practices: evidence from SMEs in the MENA region10.1108/JEAS-09-2021-0197Journal of Economic and Administrative Sciences2022-04-07© 2022 Emerald Publishing LimitedMukhammadfoik BakhadirovOmar FarooqJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-04-0710.1108/JEAS-09-2021-0197https://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2021-0197/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Discriminating factors in financial risk tolerance: investors' economic perspectivehttps://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2022-0204/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to identify the variables responsible for classifying the investors into risk takers (RT) and risk avoiders (RA) across their economic perspectives. The research offers a novel and unobtrusive measure of classifying investors into RT and RA based on a set of financial risk tolerance (FRT) questions. The authors have investigated the causes of discrimination across economic perspectives over a sample of 552 investors exposed to market risk. The authors identify that out of the total of 11 risk assessment variables, only three are responsible for classifying investors into RA and RT. The variables are risk return trade-off, comfort level dealing with risk, and understanding short-term volatility. Financial literacy is considered as an emerging cause of discrimination. Further, the authors highlight the most striking finding to be the discriminating factors across wealth and source of income of the investors. Existing research on FRT can be loosely segregated into three groups: the relationship between an individual's financial and non-FRT, estimation of FRT score (FRTS), and perceived self-assessed FRTS. The current research roughly falls into the third category of study where the authors have not only studied the self-assessed risk tolerance but also evaluated the predictors. Most of the studies have focussed on estimating self-assessed FRT with the help of one direct question to the respondent. However, the uniqueness of this study is that the researchers have used an instrument comprising a series of direct and indirect questions that can easily estimate the self-assessed risk perception and also discriminate the role of the economic factors that have any impact on self-assessed FRTS.Discriminating factors in financial risk tolerance: investors' economic perspective
Biswajit Prasad Chhatoi, Munmun Mohanty
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to identify the variables responsible for classifying the investors into risk takers (RT) and risk avoiders (RA) across their economic perspectives.

The research offers a novel and unobtrusive measure of classifying investors into RT and RA based on a set of financial risk tolerance (FRT) questions. The authors have investigated the causes of discrimination across economic perspectives over a sample of 552 investors exposed to market risk.

The authors identify that out of the total of 11 risk assessment variables, only three are responsible for classifying investors into RA and RT. The variables are risk return trade-off, comfort level dealing with risk, and understanding short-term volatility. Financial literacy is considered as an emerging cause of discrimination. Further, the authors highlight the most striking finding to be the discriminating factors across wealth and source of income of the investors.

Existing research on FRT can be loosely segregated into three groups: the relationship between an individual's financial and non-FRT, estimation of FRT score (FRTS), and perceived self-assessed FRTS. The current research roughly falls into the third category of study where the authors have not only studied the self-assessed risk tolerance but also evaluated the predictors. Most of the studies have focussed on estimating self-assessed FRT with the help of one direct question to the respondent. However, the uniqueness of this study is that the researchers have used an instrument comprising a series of direct and indirect questions that can easily estimate the self-assessed risk perception and also discriminate the role of the economic factors that have any impact on self-assessed FRTS.

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Discriminating factors in financial risk tolerance: investors' economic perspective10.1108/JEAS-09-2022-0204Journal of Economic and Administrative Sciences2023-08-01© 2023 Emerald Publishing LimitedBiswajit Prasad ChhatoiMunmun MohantyJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-08-0110.1108/JEAS-09-2022-0204https://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2022-0204/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
The effects of corporate governance mechanisms on voluntary corporate carbon disclosures: evidence from the emerging economyhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2022-0209/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study examines the effects of corporate governance mechanisms on voluntary corporate carbon disclosure in Bangladeshi firms. To investigate the association between corporate governance mechanisms and corporate carbon disclosures, this study employs ordinary least square (OLS) methods. To mitigate the potential endogeneity concerns, the authors also introduce firm fixed effect (FE) and random effect (RE). Primarily, the study sample includes 250 firm-year observations over the period 2015–2019 for listed companies on the Dhaka Stock Exchange (DSE) in Bangladesh. Subsequently, corporate governance mechanisms that influence voluntary carbon disclosure were examined using both univariate and OLS models. The findings of this study suggest that firms with a larger board size and more independent directors have a positive impact on the firm's intensity to disclose carbon-related information. However, no evidence has been found of the existence of an environmental committee, and the presence of female directors on the board tends to be associated with a higher level of voluntary corporate carbon disclosure. The study offers necessary evidence of the determinants of corporate carbon disclosures, which will be useful for managers, senior executives, policymakers and regulatory bodies. To improve corporate governance practices and formulate separate sets of regulations and reporting criteria, disclosing extensive and holistic carbon-related information obligatory. Further, the outcomes of this study based on Bangladeshi firms can be comprehensive for other developing countries to take precautions to tackle the effect of global climate change.The effects of corporate governance mechanisms on voluntary corporate carbon disclosures: evidence from the emerging economy
Rajib Chakraborty, Sajal Kumar Dey
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study examines the effects of corporate governance mechanisms on voluntary corporate carbon disclosure in Bangladeshi firms.

To investigate the association between corporate governance mechanisms and corporate carbon disclosures, this study employs ordinary least square (OLS) methods. To mitigate the potential endogeneity concerns, the authors also introduce firm fixed effect (FE) and random effect (RE). Primarily, the study sample includes 250 firm-year observations over the period 2015–2019 for listed companies on the Dhaka Stock Exchange (DSE) in Bangladesh. Subsequently, corporate governance mechanisms that influence voluntary carbon disclosure were examined using both univariate and OLS models.

The findings of this study suggest that firms with a larger board size and more independent directors have a positive impact on the firm's intensity to disclose carbon-related information. However, no evidence has been found of the existence of an environmental committee, and the presence of female directors on the board tends to be associated with a higher level of voluntary corporate carbon disclosure.

The study offers necessary evidence of the determinants of corporate carbon disclosures, which will be useful for managers, senior executives, policymakers and regulatory bodies. To improve corporate governance practices and formulate separate sets of regulations and reporting criteria, disclosing extensive and holistic carbon-related information obligatory. Further, the outcomes of this study based on Bangladeshi firms can be comprehensive for other developing countries to take precautions to tackle the effect of global climate change.

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The effects of corporate governance mechanisms on voluntary corporate carbon disclosures: evidence from the emerging economy10.1108/JEAS-09-2022-0209Journal of Economic and Administrative Sciences2023-05-09© 2023 Emerald Publishing LimitedRajib ChakrabortySajal Kumar DeyJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-05-0910.1108/JEAS-09-2022-0209https://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2022-0209/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Examining the linkages between human capital and economic growth in Indiahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2022-0212/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe main aim of this study is to explore the role of multi-dimensional human capital on the economic growth of the Indian economy. The study used the methodology given by World Bank, 2018) in calculating the human capital index (HCI). The HCI has been constructed at a regional level for all 28 Indian states and 8 Union Territories (UTs) for the period of 2015–2016. The study explored the linkages between HCI and per capita gross state domestic product (PGSDP). The study further employed OLS (Ordinary Least Square) for overall significance and Spearmen’s Rank correlation coefficient test for establishing the linkage between HCI and PGSDP. The results indicate that quality education, expected year of schooling, and infant mortality rate play a significant role in the improvement of HCI which further impacts the productivity rate of the upcoming generation and the inclusive growth of the country. The findings show that Mizoram, Chandigarh and Kerala are better performing states while the Bihar and Uttar Pradesh are the worst performers. The results also show that there is a positive and statistically significant correlation between PGSDP and HCI and its components. Further, the results show that public expenditure on health and education has significant effect on HCI. The results of this study would be useful for policymakers to identify the determinants and improve the position of Indian states in HCI. The results show that policymakers should focus on quality education and health to improve the productivity of future generation workers for sustainable and inclusive growth. The study is the pioneering study to analyze the state-wise HCI in India using methods mentioned by the World Bank. Unlike previous studies, variables such as expected year of schooling, under-5 mortality rates and survival rates are constructed more pragmatically.Examining the linkages between human capital and economic growth in India
Pooja Yadav, Geetilaxmi Mohapatra
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The main aim of this study is to explore the role of multi-dimensional human capital on the economic growth of the Indian economy.

The study used the methodology given by World Bank, 2018) in calculating the human capital index (HCI). The HCI has been constructed at a regional level for all 28 Indian states and 8 Union Territories (UTs) for the period of 2015–2016. The study explored the linkages between HCI and per capita gross state domestic product (PGSDP). The study further employed OLS (Ordinary Least Square) for overall significance and Spearmen’s Rank correlation coefficient test for establishing the linkage between HCI and PGSDP.

The results indicate that quality education, expected year of schooling, and infant mortality rate play a significant role in the improvement of HCI which further impacts the productivity rate of the upcoming generation and the inclusive growth of the country. The findings show that Mizoram, Chandigarh and Kerala are better performing states while the Bihar and Uttar Pradesh are the worst performers. The results also show that there is a positive and statistically significant correlation between PGSDP and HCI and its components. Further, the results show that public expenditure on health and education has significant effect on HCI.

The results of this study would be useful for policymakers to identify the determinants and improve the position of Indian states in HCI. The results show that policymakers should focus on quality education and health to improve the productivity of future generation workers for sustainable and inclusive growth.

The study is the pioneering study to analyze the state-wise HCI in India using methods mentioned by the World Bank. Unlike previous studies, variables such as expected year of schooling, under-5 mortality rates and survival rates are constructed more pragmatically.

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Examining the linkages between human capital and economic growth in India10.1108/JEAS-09-2022-0212Journal of Economic and Administrative Sciences2023-05-31© 2023 Emerald Publishing LimitedPooja YadavGeetilaxmi MohapatraJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-05-3110.1108/JEAS-09-2022-0212https://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2022-0212/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Financial inclusion and financial development: implications for monetary policy effectiveness and economic growth in sub-Saharan Africahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2022-0215/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper explores the implications of financial inclusion and financial development for the conduct of monetary policy in achieving price stability and economic growth in sub-Saharan Africa (SSA). The paper employs the system-generalized methods of moment (GMM) estimation technique using panel data spanning 2004 to 2019 and sourced from Databases of (International Monetary Fund's) IMF's Financial Access Survey (FAS), IMF's International Financial Statistics (IFS), World Bank's Global Financial Development Database (GFDD) and World Bank's World Development Indicators (WDI). The authors find that financial inclusion has a double-edge effect in SSA. That is, it increases economic growth and lowers inflation in SSA. Furthermore, the results show that a simultaneous increase in financial inclusion and financial development have restrictive effects on economic growth. On the evidence provided, the authors conclude that financial inclusion is an important predictor of economic growth and the conduct of monetary policy in the sub-region. This paper expands and contributes to the frontier of knowledge how financial inclusion is important for the conduct of monetary policy by monetary authorities in achieving its intended objectives in SSA. The paper highlights the need for ongoing enhancement of financial inclusion of many governments in the sub-region to achieving high economic growth and price stability. Thus, there is the need for policy makers to ensure that a more stringent, effective and appropriate policies and measures are put in place to enhance financial inclusion while taking into consideration the extent of financial development in SSA.Financial inclusion and financial development: implications for monetary policy effectiveness and economic growth in sub-Saharan Africa
Paul Owusu Takyi, Daniel Sakyi, Hadrat Yusif, Grace Nkansa Asante, Anthony Kofi Osei-Fosu, Gideon Mensah
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper explores the implications of financial inclusion and financial development for the conduct of monetary policy in achieving price stability and economic growth in sub-Saharan Africa (SSA).

The paper employs the system-generalized methods of moment (GMM) estimation technique using panel data spanning 2004 to 2019 and sourced from Databases of (International Monetary Fund's) IMF's Financial Access Survey (FAS), IMF's International Financial Statistics (IFS), World Bank's Global Financial Development Database (GFDD) and World Bank's World Development Indicators (WDI).

The authors find that financial inclusion has a double-edge effect in SSA. That is, it increases economic growth and lowers inflation in SSA. Furthermore, the results show that a simultaneous increase in financial inclusion and financial development have restrictive effects on economic growth. On the evidence provided, the authors conclude that financial inclusion is an important predictor of economic growth and the conduct of monetary policy in the sub-region.

This paper expands and contributes to the frontier of knowledge how financial inclusion is important for the conduct of monetary policy by monetary authorities in achieving its intended objectives in SSA. The paper highlights the need for ongoing enhancement of financial inclusion of many governments in the sub-region to achieving high economic growth and price stability. Thus, there is the need for policy makers to ensure that a more stringent, effective and appropriate policies and measures are put in place to enhance financial inclusion while taking into consideration the extent of financial development in SSA.

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Financial inclusion and financial development: implications for monetary policy effectiveness and economic growth in sub-Saharan Africa10.1108/JEAS-09-2022-0215Journal of Economic and Administrative Sciences2023-05-11© 2023 Emerald Publishing LimitedPaul Owusu TakyiDaniel SakyiHadrat YusifGrace Nkansa AsanteAnthony Kofi Osei-FosuGideon MensahJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-05-1110.1108/JEAS-09-2022-0215https://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2022-0215/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Dynamic relationship of volatility of returns across different markets: evidence from selected next 11 countrieshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2022-0216/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to examine whether the volatility of returns in commodity (gold, oil), bond and forex markets is related over time to the volatility of returns in equity markets of Bangladesh, Indonesia, Pakistan, Philippines, Turkey and Vietnam. In addition, the authors analyze the integration of the commodity, bond, forex and equity markets across these markets. The dynamic conditional correlation GARCH (DCC-GARCH) model is used to capture the time-varying conditional correlation among markets. The authors use daily data of stock prices, oil prices, gold prices, exchange rates and 10 years' bond yields of the six countries from Datastream and investing.com from January 2001 to April 2021. Findings reveal that the parameters of dynamic correlation are statistically significant which indicates the importance of time-varying co-movements. Estimation of the DCC-GARCH model suggests that the stock market is significantly correlated with bond, forex, gold and oil markets in all six countries. This study has practical implications for policymakers and investment professionals. A better understanding of dynamic linkages among the markets would help in constructing effective hedging and portfolio diversification strategies. Policy makers can get insight to build proper strategies in order to insulate the economy from factors that cause volatility. Several studies have investigated the linkage between commodity and stock markets and the volatility spillover effect, but very little attention is given to study the interrelationship between groups of market segments of different economies. No study has comparatively examined the dynamic relationship of multiple markets of a group of emerging countries simultaneously.Dynamic relationship of volatility of returns across different markets: evidence from selected next 11 countries
Sadia Shafiq, Saiqa Saddiqa Qureshi, Muhammad Akbar
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to examine whether the volatility of returns in commodity (gold, oil), bond and forex markets is related over time to the volatility of returns in equity markets of Bangladesh, Indonesia, Pakistan, Philippines, Turkey and Vietnam. In addition, the authors analyze the integration of the commodity, bond, forex and equity markets across these markets.

The dynamic conditional correlation GARCH (DCC-GARCH) model is used to capture the time-varying conditional correlation among markets. The authors use daily data of stock prices, oil prices, gold prices, exchange rates and 10 years' bond yields of the six countries from Datastream and investing.com from January 2001 to April 2021.

Findings reveal that the parameters of dynamic correlation are statistically significant which indicates the importance of time-varying co-movements. Estimation of the DCC-GARCH model suggests that the stock market is significantly correlated with bond, forex, gold and oil markets in all six countries.

This study has practical implications for policymakers and investment professionals. A better understanding of dynamic linkages among the markets would help in constructing effective hedging and portfolio diversification strategies. Policy makers can get insight to build proper strategies in order to insulate the economy from factors that cause volatility.

Several studies have investigated the linkage between commodity and stock markets and the volatility spillover effect, but very little attention is given to study the interrelationship between groups of market segments of different economies. No study has comparatively examined the dynamic relationship of multiple markets of a group of emerging countries simultaneously.

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Dynamic relationship of volatility of returns across different markets: evidence from selected next 11 countries10.1108/JEAS-09-2022-0216Journal of Economic and Administrative Sciences2023-04-28© 2023 Emerald Publishing LimitedSadia ShafiqSaiqa Saddiqa QureshiMuhammad AkbarJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-04-2810.1108/JEAS-09-2022-0216https://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2022-0216/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Commodity trading and inflation: ground reality in India using bivariate GARCH modelshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2022-0220/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe nexus of commodity prices with inflation is one of the main concerns for a nation's economy like India. The literature does not have enough volatility-based study, especially using the multivariate GRACH family of models to find a link between these two. It is the main reason for the conduct of this study. This paper aims to estimate the volatility effects of commodity prices on inflation. For ten years (2011–2022), future prices of selected seven agriculture commodities and inflation indices (wholesale price index [WPI] and consumer price index [CPI]) are gathered every month. BEKK GARCH model (BGM) and DCC GARCH model (DGM) are employed to determine the volatility effect of commodity prices (CPs) on inflation. The authors find that volatility's short-term (shock) impact on agricultural CPs to inflation does not exist. However, the long-term volatility spillover effect (VSE) is significant from commodities to inflation. The study's findings have a significant implication for the policymakers to take a long-term view on inflation management regarding commodity prices. The findings can facilitate policy on the choice of commodities and the flexibility of their trading on the commodities derivatives market. The findings of the study are unique. The authors do not observe any study on the volatility effect of agri-commodities (agricultural commodities) prices on inflation in India. This paper applies advanced techniques to provide novel and reliable evidence. Hence, this research is believed to contribute significantly to the knowledge body through its novel evidence and advanced approach.Commodity trading and inflation: ground reality in India using bivariate GARCH models
Shailesh Rastogi, Jagjeevan Kanoujiya
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The nexus of commodity prices with inflation is one of the main concerns for a nation's economy like India. The literature does not have enough volatility-based study, especially using the multivariate GRACH family of models to find a link between these two. It is the main reason for the conduct of this study. This paper aims to estimate the volatility effects of commodity prices on inflation.

For ten years (2011–2022), future prices of selected seven agriculture commodities and inflation indices (wholesale price index [WPI] and consumer price index [CPI]) are gathered every month. BEKK GARCH model (BGM) and DCC GARCH model (DGM) are employed to determine the volatility effect of commodity prices (CPs) on inflation.

The authors find that volatility's short-term (shock) impact on agricultural CPs to inflation does not exist. However, the long-term volatility spillover effect (VSE) is significant from commodities to inflation.

The study's findings have a significant implication for the policymakers to take a long-term view on inflation management regarding commodity prices. The findings can facilitate policy on the choice of commodities and the flexibility of their trading on the commodities derivatives market.

The findings of the study are unique. The authors do not observe any study on the volatility effect of agri-commodities (agricultural commodities) prices on inflation in India. This paper applies advanced techniques to provide novel and reliable evidence. Hence, this research is believed to contribute significantly to the knowledge body through its novel evidence and advanced approach.

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Commodity trading and inflation: ground reality in India using bivariate GARCH models10.1108/JEAS-09-2022-0220Journal of Economic and Administrative Sciences2023-08-08© 2023 Emerald Publishing LimitedShailesh RastogiJagjeevan KanoujiyaJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-08-0810.1108/JEAS-09-2022-0220https://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2022-0220/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Revisiting the Twin Deficit Hypothesis in presence of exchange rate nonlinearities: evidence from India using nonlinear ARDL modelhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2022-0222/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper is an attempt to re-examine the validity of the Twin Deficit Hypothesis in the Indian economy, which is characterised by mounting inequality and liquidity constraints. The authors augment the econometric analysis with two important mediating variables, exchange rate and trade openness, to analyse their impact on current account deficit. The authors have used a ground-breaking asymmetric cointegration technique proposed by Shin et al. (2014) to investigate the short-run and long-run asymmetric nexus between gross fiscal deficit and current account deficit. In addition, the study has used asymmetric dynamic multipliers to see the dynamics of nonlinear adjustment from disequilibrium in the short run to equilibrium in the long run. The study has also used generalised impulse response functions to check the robustness of our cointegration results. Using annual time series data from 1970 to 2018, the empirical exercise validates the presence of asymmetries in the Twin Deficit Hypothesis for the Indian economy. This study's robust findings demonstrate that the two deficits are asymmetrically related in the long run. The authors also found that exchange rate asymmetrically affects current account deficit thus validating the asymmetric J-curve phenomenon. From the causality analysis, the authors infer that there is a weak unidirectional causality running from fiscal deficit to current account deficit. Fiscal deficit may cause current account deficit via changes in other macroeconomic variables that were not taken care of in this study. Therefore, the estimation techniques used in the present study might suffer from the issue of omitted-variable bias. Further research should include other macroeconomic variables where the twin deficit nexus is also influenced by other relevant variables. This will help in disentangling the indirect transmissions by which fiscal deficit translates into current account deficit. The results from our econometric exercise strongly suggest that the twin deficits are asymmetrically related. From a policy perspective, the asymmetric twin deficit nexus offers strong policy implications for the development of policies that are flexible enough to respond to shifts in internal and external sector dynamics. While framing the mechanism of fiscal prudence, policymakers in emerging countries like India must take into account the regime-changing behaviour of twin deficits. The present paper is a significant contribution to the existing body of literature by being the first study in India which has analysed the Twin Deficits phenomenon in a nonlinear framework with the incorporation of asymmetric exchange rate dynamics in the model.Revisiting the Twin Deficit Hypothesis in presence of exchange rate nonlinearities: evidence from India using nonlinear ARDL model
Shahid Bashir, Tabina Ayoub
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper is an attempt to re-examine the validity of the Twin Deficit Hypothesis in the Indian economy, which is characterised by mounting inequality and liquidity constraints. The authors augment the econometric analysis with two important mediating variables, exchange rate and trade openness, to analyse their impact on current account deficit.

The authors have used a ground-breaking asymmetric cointegration technique proposed by Shin et al. (2014) to investigate the short-run and long-run asymmetric nexus between gross fiscal deficit and current account deficit. In addition, the study has used asymmetric dynamic multipliers to see the dynamics of nonlinear adjustment from disequilibrium in the short run to equilibrium in the long run. The study has also used generalised impulse response functions to check the robustness of our cointegration results.

Using annual time series data from 1970 to 2018, the empirical exercise validates the presence of asymmetries in the Twin Deficit Hypothesis for the Indian economy. This study's robust findings demonstrate that the two deficits are asymmetrically related in the long run. The authors also found that exchange rate asymmetrically affects current account deficit thus validating the asymmetric J-curve phenomenon. From the causality analysis, the authors infer that there is a weak unidirectional causality running from fiscal deficit to current account deficit.

Fiscal deficit may cause current account deficit via changes in other macroeconomic variables that were not taken care of in this study. Therefore, the estimation techniques used in the present study might suffer from the issue of omitted-variable bias. Further research should include other macroeconomic variables where the twin deficit nexus is also influenced by other relevant variables. This will help in disentangling the indirect transmissions by which fiscal deficit translates into current account deficit.

The results from our econometric exercise strongly suggest that the twin deficits are asymmetrically related. From a policy perspective, the asymmetric twin deficit nexus offers strong policy implications for the development of policies that are flexible enough to respond to shifts in internal and external sector dynamics. While framing the mechanism of fiscal prudence, policymakers in emerging countries like India must take into account the regime-changing behaviour of twin deficits.

The present paper is a significant contribution to the existing body of literature by being the first study in India which has analysed the Twin Deficits phenomenon in a nonlinear framework with the incorporation of asymmetric exchange rate dynamics in the model.

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Revisiting the Twin Deficit Hypothesis in presence of exchange rate nonlinearities: evidence from India using nonlinear ARDL model10.1108/JEAS-09-2022-0222Journal of Economic and Administrative Sciences2023-06-07© 2023 Emerald Publishing LimitedShahid BashirTabina AyoubJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-06-0710.1108/JEAS-09-2022-0222https://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2022-0222/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Linking LMX and happiness at work through symbolic interaction theory – The role of self-esteem and organizational embeddednesshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2022-0223/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestDrawing on the symbolic interaction theory, this research examines leader–member exchange (LMX) and employee’s happiness at work (HAW) with mediation of self-esteem (SE) and moderation of organizational embeddedness (OE). The study uses data collected from a sample of 246 employees working in fast moving consumer goods companies (FMCGs) and applied SmartPLS to analyze the proposed model. Findings reveal that LMX predicts HAW. Whereas, the follower’s SE fully transmitted the effect of LMX on employee’s HAW. Moreover, OE moderated the relationship between LMX and HAW. Leaders should consider quality LMX interactions with their employees in prevailing global crises. LMX can improve the relationship with team members and boost their SE resulting in HAW. Furthermore, organizations should promote such practices which may enhance their employees' OE for enhanced workplace happiness. The study is among the very few works which apply symbolic interaction as an overarching framework to explain the employees' HAW.Linking LMX and happiness at work through symbolic interaction theory – The role of self-esteem and organizational embeddedness
Faisal Qamar, Shuaib Ahmed Soomro
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Drawing on the symbolic interaction theory, this research examines leader–member exchange (LMX) and employee’s happiness at work (HAW) with mediation of self-esteem (SE) and moderation of organizational embeddedness (OE).

The study uses data collected from a sample of 246 employees working in fast moving consumer goods companies (FMCGs) and applied SmartPLS to analyze the proposed model.

Findings reveal that LMX predicts HAW. Whereas, the follower’s SE fully transmitted the effect of LMX on employee’s HAW. Moreover, OE moderated the relationship between LMX and HAW.

Leaders should consider quality LMX interactions with their employees in prevailing global crises. LMX can improve the relationship with team members and boost their SE resulting in HAW. Furthermore, organizations should promote such practices which may enhance their employees' OE for enhanced workplace happiness.

The study is among the very few works which apply symbolic interaction as an overarching framework to explain the employees' HAW.

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Linking LMX and happiness at work through symbolic interaction theory – The role of self-esteem and organizational embeddedness10.1108/JEAS-09-2022-0223Journal of Economic and Administrative Sciences2023-04-04© 2023 Emerald Publishing LimitedFaisal QamarShuaib Ahmed SoomroJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-04-0410.1108/JEAS-09-2022-0223https://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2022-0223/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Nexus between digital financial inclusion and economic growth: a panel data investigation of Asian economieshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2023-0253/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to investigate the relationship between digital financial inclusion and economic growth in specific Asian countries, emphasizing the exploration of how digital financial inclusion dynamics impact gross domestic per capita income. The study creates a digital financial inclusion composite index (DFII) by incorporating essential metrics from the Global Findex report. Economic growth is measured using Gross Domestic Product per capita income in its natural logarithmic form (LnPCI), with three control variables– employment-to-population ratio; population growth and inflation. The analysis utilizes a fixed-effect dummy variable model to examine the relationship, considering unobserved country-specific heterogeneity. 30 Asian countries have been selected for the study for the periods 2014, 2017 and 2021 based on their availability, as outlined in Table 4. The research revealed a robust positive correlation between the Digital Financial Inclusion Index (DFII) and logarithmic GDP per capita income (LnPCI), indicating higher per capita income with enhanced digital financial inclusion. Employment and population exhibited minimal influence, whereas inflation had a notable negative effect on per capita income. Population growth showed a limited impact. The model demonstrated a high explanatory power for the dependent variable (high R-squared), and the residuals displayed low autocorrelation (Durbin–Watson of 1.96). This study adds to the existing literature by examining the intricate connection between digital financial inclusion (DFI) and economic growth in 30 Asian countries, employing a comprehensive composite index for analysis.Nexus between digital financial inclusion and economic growth: a panel data investigation of Asian economies
Pramath Ramesh Hegde, Leena S. Guruprasad
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to investigate the relationship between digital financial inclusion and economic growth in specific Asian countries, emphasizing the exploration of how digital financial inclusion dynamics impact gross domestic per capita income.

The study creates a digital financial inclusion composite index (DFII) by incorporating essential metrics from the Global Findex report. Economic growth is measured using Gross Domestic Product per capita income in its natural logarithmic form (LnPCI), with three control variables– employment-to-population ratio; population growth and inflation. The analysis utilizes a fixed-effect dummy variable model to examine the relationship, considering unobserved country-specific heterogeneity. 30 Asian countries have been selected for the study for the periods 2014, 2017 and 2021 based on their availability, as outlined in Table 4.

The research revealed a robust positive correlation between the Digital Financial Inclusion Index (DFII) and logarithmic GDP per capita income (LnPCI), indicating higher per capita income with enhanced digital financial inclusion. Employment and population exhibited minimal influence, whereas inflation had a notable negative effect on per capita income. Population growth showed a limited impact. The model demonstrated a high explanatory power for the dependent variable (high R-squared), and the residuals displayed low autocorrelation (Durbin–Watson of 1.96).

This study adds to the existing literature by examining the intricate connection between digital financial inclusion (DFI) and economic growth in 30 Asian countries, employing a comprehensive composite index for analysis.

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Nexus between digital financial inclusion and economic growth: a panel data investigation of Asian economies10.1108/JEAS-09-2023-0253Journal of Economic and Administrative Sciences2024-03-26© 2024 Emerald Publishing LimitedPramath Ramesh HegdeLeena S. GuruprasadJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2024-03-2610.1108/JEAS-09-2023-0253https://www.emerald.com/insight/content/doi/10.1108/JEAS-09-2023-0253/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Impact of recruitment practices on organizational commitment: mediating role of employer imagehttps://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2020-0176/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestFrom managerial perspective, the authors investigate the boundary and effective conditions of recruitment practices (e.g. job advertising and manager recruiting behavior) on recruitment outcomes that include employer image and organizational commitment in the context of recruitment practices. Drawing on signaling theory, the authors argue that using recruitment practices is generally more effective for creating employer image and organizational commitment. The authors received a final sample of 213 from the employees of beverage industry. In doing so, statistical softwares SPSS (v.23) for data screening and SmartPLS (v.3.3.3) were used for hypothesis testing. Using survey-based study, the study finds (1) that recruitment practices including job advertising and managers' recruiting behavior can be superior to developing employer image that positively can value the organizational commitment (2) The study identifies a significant role of employer image that is mediating between recruitment practices and post recruitment outcome (e.g. organization commitment). The outcomes of the study provide valuable directions for human resource (HR) managers in national and multinational public organizations. The article offers recruitment strategies/practices to enhance employer image and organizational commitment. The novelty of the study is the unique research framework, as the current paper is among the pioneers to empirically analyze the effect of recruitment practices on post-recruitment outcome testing the mediating relationship of employer image between job advertising organizational commitment and between managing recruiting behavior and organizational commitment.Impact of recruitment practices on organizational commitment: mediating role of employer image
Tahir Hussain, Khalil Ahmed Channa, Maqsood H. Bhutto
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

From managerial perspective, the authors investigate the boundary and effective conditions of recruitment practices (e.g. job advertising and manager recruiting behavior) on recruitment outcomes that include employer image and organizational commitment in the context of recruitment practices. Drawing on signaling theory, the authors argue that using recruitment practices is generally more effective for creating employer image and organizational commitment.

The authors received a final sample of 213 from the employees of beverage industry. In doing so, statistical softwares SPSS (v.23) for data screening and SmartPLS (v.3.3.3) were used for hypothesis testing.

Using survey-based study, the study finds (1) that recruitment practices including job advertising and managers' recruiting behavior can be superior to developing employer image that positively can value the organizational commitment (2) The study identifies a significant role of employer image that is mediating between recruitment practices and post recruitment outcome (e.g. organization commitment).

The outcomes of the study provide valuable directions for human resource (HR) managers in national and multinational public organizations. The article offers recruitment strategies/practices to enhance employer image and organizational commitment.

The novelty of the study is the unique research framework, as the current paper is among the pioneers to empirically analyze the effect of recruitment practices on post-recruitment outcome testing the mediating relationship of employer image between job advertising organizational commitment and between managing recruiting behavior and organizational commitment.

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Impact of recruitment practices on organizational commitment: mediating role of employer image10.1108/JEAS-10-2020-0176Journal of Economic and Administrative Sciences2022-02-03© 2021 Emerald Publishing LimitedTahir HussainKhalil Ahmed ChannaMaqsood H. BhuttoJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-02-0310.1108/JEAS-10-2020-0176https://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2020-0176/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2021 Emerald Publishing Limited
Challenges of blockchain application in the financial sector: a qualitative studyhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0200/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe novel blockchain technology can be leveraged, owing to the growth in computing power and its widespread applications. This study aims to understand the challenges of adopting blockchain technology in the financial sector, organise them into a model and classify them for systematic address. Interpretive Structural Modeling (ISM) has been carried out along with MICMAC (Matrice d’impacts croisés multiplication appliquée á un classment) analysis to hierarchically structure blockchain adoption problems and categorise the challenges into four classes-autonomous, dependent, linkage and independent for better addressing. The study also uses content analysis using NVivo software. The digraph depicts the hierarchical challenge model. Vulnerability to financial crimes and glitches, privacy issues and geopolitical tensions due to cross-border transactions are the dependent variables. Complex architecture to comprehend, code and fix, the need for new financial intermediaries, complexity in auditing and the lack of unified governance and coordination among institutions and regulators are the independent variables. The digraph, which is also justified by the qualitative content analysis, is beneficial for stakeholders to systematically address the interdependent challenges associated with blockchain implementations in finance to foster its favourable adoption. The challenges in the adoption of blockchain should be resolved to allow the implementation of this technology in various finance domains. This study enables organisations to carry out resource planning and systematically address these challenges to leverage the advantages of blockchain. The results of the present study can help in promoting the proliferation of blockchain for faster, cost-effective, transparent and secure financial transactions and foster innovative and new business models for economic growth. The development of technology has brought about significant changes in the financial sector. Blockchain is a technological advancement that aims to bring security and transparency to transactions. There has been no research leveraging ISM-MICMAC to hierarchically organise and classify the blockchain challenges in the financial sector, a critical one. The research also uses content analysis which is seldom found along with ISM-MICMAC.Challenges of blockchain application in the financial sector: a qualitative study
Supratika Samir Banerjee, Arti Chandani
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The novel blockchain technology can be leveraged, owing to the growth in computing power and its widespread applications. This study aims to understand the challenges of adopting blockchain technology in the financial sector, organise them into a model and classify them for systematic address.

Interpretive Structural Modeling (ISM) has been carried out along with MICMAC (Matrice d’impacts croisés multiplication appliquée á un classment) analysis to hierarchically structure blockchain adoption problems and categorise the challenges into four classes-autonomous, dependent, linkage and independent for better addressing. The study also uses content analysis using NVivo software.

The digraph depicts the hierarchical challenge model. Vulnerability to financial crimes and glitches, privacy issues and geopolitical tensions due to cross-border transactions are the dependent variables. Complex architecture to comprehend, code and fix, the need for new financial intermediaries, complexity in auditing and the lack of unified governance and coordination among institutions and regulators are the independent variables. The digraph, which is also justified by the qualitative content analysis, is beneficial for stakeholders to systematically address the interdependent challenges associated with blockchain implementations in finance to foster its favourable adoption.

The challenges in the adoption of blockchain should be resolved to allow the implementation of this technology in various finance domains. This study enables organisations to carry out resource planning and systematically address these challenges to leverage the advantages of blockchain.

The results of the present study can help in promoting the proliferation of blockchain for faster, cost-effective, transparent and secure financial transactions and foster innovative and new business models for economic growth.

The development of technology has brought about significant changes in the financial sector. Blockchain is a technological advancement that aims to bring security and transparency to transactions. There has been no research leveraging ISM-MICMAC to hierarchically organise and classify the blockchain challenges in the financial sector, a critical one. The research also uses content analysis which is seldom found along with ISM-MICMAC.

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Challenges of blockchain application in the financial sector: a qualitative study10.1108/JEAS-10-2021-0200Journal of Economic and Administrative Sciences2022-12-12© 2022 Emerald Publishing LimitedSupratika Samir BanerjeeArti ChandaniJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-12-1210.1108/JEAS-10-2021-0200https://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0200/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Effects of other comprehensive income on audit fees and audit report lag in Egyptian firms: does board gender diversity matter?https://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0201/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to (1) investigate the effect of other comprehensive income (OCI) on audit fees (AF) and audit report lag (ARL) and (2) test the moderating effect of board gender diversity (BGD) on such relationships. This paper uses data extracted from the financial reports for a sample of Egyptian firms from 2013 to 2019, where the data are processed using the Panel Corrected Standards Errors (PCSE) and the Structure Equation Model (SEM). The results reveal that (1) the OCI existence and OCI volume have a significant positive effect on AF and ARL, and (2) the presence of female directors on the board and the percentage of female representation affect the relationship between OCI and AF positively, but this effect on the relationship between OCI and ARL is insignificant. This paper has some limitations, where the analysis uses a small sample of Egyptian listed firms, as well as, the measures that were used as proxies of the study variables, which do not necessarily express the most suitable ones. The results of this paper would (1) provide signals to the audit market, the professional bodies in Egypt and stakeholders about the determinants of AF and ARL, (2) provide guidelines that support the capital market authority to consider gender diversity in boards of companies taking into considerations its impact on AF and ARL, and (3) help the accounting setters in emerging economies as Egypt in drafting more suitable standards and guidelines regarding OCI. This paper adds to the literature on OCI, where it investigates the effect of OCI on ARL, which was not yet studied in prior studies. Also, this paper complements and extends the literature by providing empirical evidence from one of the emerging markets as Egypt about the effect of BGD on the relationships between OCI, AF and ARL, as these relationships have not been examined before.Effects of other comprehensive income on audit fees and audit report lag in Egyptian firms: does board gender diversity matter?
Tariq H. Ismail, Karim Mansour, Emad Sayed
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to (1) investigate the effect of other comprehensive income (OCI) on audit fees (AF) and audit report lag (ARL) and (2) test the moderating effect of board gender diversity (BGD) on such relationships.

This paper uses data extracted from the financial reports for a sample of Egyptian firms from 2013 to 2019, where the data are processed using the Panel Corrected Standards Errors (PCSE) and the Structure Equation Model (SEM).

The results reveal that (1) the OCI existence and OCI volume have a significant positive effect on AF and ARL, and (2) the presence of female directors on the board and the percentage of female representation affect the relationship between OCI and AF positively, but this effect on the relationship between OCI and ARL is insignificant.

This paper has some limitations, where the analysis uses a small sample of Egyptian listed firms, as well as, the measures that were used as proxies of the study variables, which do not necessarily express the most suitable ones.

The results of this paper would (1) provide signals to the audit market, the professional bodies in Egypt and stakeholders about the determinants of AF and ARL, (2) provide guidelines that support the capital market authority to consider gender diversity in boards of companies taking into considerations its impact on AF and ARL, and (3) help the accounting setters in emerging economies as Egypt in drafting more suitable standards and guidelines regarding OCI.

This paper adds to the literature on OCI, where it investigates the effect of OCI on ARL, which was not yet studied in prior studies. Also, this paper complements and extends the literature by providing empirical evidence from one of the emerging markets as Egypt about the effect of BGD on the relationships between OCI, AF and ARL, as these relationships have not been examined before.

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Effects of other comprehensive income on audit fees and audit report lag in Egyptian firms: does board gender diversity matter?10.1108/JEAS-10-2021-0201Journal of Economic and Administrative Sciences2022-01-10© 2021 Emerald Publishing LimitedTariq H. IsmailKarim MansourEmad SayedJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-01-1010.1108/JEAS-10-2021-0201https://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0201/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2021 Emerald Publishing Limited
Commodity prices, inflation and inflation uncertainty among emerging economieshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0203/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper examines the role price fluctuations associated with internationally traded commodities play in inflationary conditions and inflation uncertainty among economies in Sub-Saharan Africa. Using a panel 32 countries from the sub-region from 1996 to 2019, this study employed Two-Step System Generalized Method of Moments (GMM) estimation technique in its analysis. Empirical evidence demonstrates that fluctuations in forex-adjusted price of crude oil, gold and cocoa have significant positive impact on inflation while forex-adjusted changes in price of cotton tend to have significant negative influence on consumer price inflation among economies in the sub-region. Additionally, the study found that gold, cocoa and cotton price changes on the international market have significant positive impact on inflation uncertainty in the sub-region (rise in price leads to increase rate of inflation uncertainty). Furthermore, improved regulatory quality and growth in output growth (GDP per capita growth) were found to help in stabilizing inflation uncertainty (reduce inflation uncertainty) among economies in the sub-region during periods of persistent growth in general price levels. The study present a different approach based on individual economy forex-adjusted global prices of internationally traded commodities instead of general prices often used in the literature and assessed the effects such adjusted commodity prices have on inflation and inflation uncertainty. Additionally, the moderating role of regulatory quality and output growth between surmised nexuses are also examined.Commodity prices, inflation and inflation uncertainty among emerging economies
Rexford Abaidoo, Elvis Kwame Agyapong
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper examines the role price fluctuations associated with internationally traded commodities play in inflationary conditions and inflation uncertainty among economies in Sub-Saharan Africa.

Using a panel 32 countries from the sub-region from 1996 to 2019, this study employed Two-Step System Generalized Method of Moments (GMM) estimation technique in its analysis.

Empirical evidence demonstrates that fluctuations in forex-adjusted price of crude oil, gold and cocoa have significant positive impact on inflation while forex-adjusted changes in price of cotton tend to have significant negative influence on consumer price inflation among economies in the sub-region. Additionally, the study found that gold, cocoa and cotton price changes on the international market have significant positive impact on inflation uncertainty in the sub-region (rise in price leads to increase rate of inflation uncertainty). Furthermore, improved regulatory quality and growth in output growth (GDP per capita growth) were found to help in stabilizing inflation uncertainty (reduce inflation uncertainty) among economies in the sub-region during periods of persistent growth in general price levels.

The study present a different approach based on individual economy forex-adjusted global prices of internationally traded commodities instead of general prices often used in the literature and assessed the effects such adjusted commodity prices have on inflation and inflation uncertainty. Additionally, the moderating role of regulatory quality and output growth between surmised nexuses are also examined.

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Commodity prices, inflation and inflation uncertainty among emerging economies10.1108/JEAS-10-2021-0203Journal of Economic and Administrative Sciences2022-02-01© 2022 Emerald Publishing LimitedRexford AbaidooElvis Kwame AgyapongJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-02-0110.1108/JEAS-10-2021-0203https://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0203/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Intention to adopt cryptocurrency: a robust contribution of trust and the theory of planned behaviorhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0204/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestAt present, the adoption of cryptocurrency investment has brought consideration to the globe. The present paper attempts to investigate the intention to adopt cryptocurrency (IACR) among the potential investors of Pakistan. The theory of planned behavior (TPB) is applied to underpin the conceptual framework. The study uses a quantitative approach. The study collects cross-sectional data through an online survey questionnaire. In the last, the authors utilized 334 samples for outcomes. Findings of the SEM reveal a significant positive effect of attitude, subjective norms (SNs), perceived behavioral control (PBC) and trust on IACR. The outcomes of an investigation would develop further intention and trust towards cryptocurrency adoption. The results would support developing favorable policies regarding the reduction of the ban on cryptocurrency in Pakistan to make easier transactions of the investors further. Possibly, it brings several opportunities in all segments of society in making the digital transaction modes through cryptocurrency. Finally, the findings would further validate the TPB in the context of cryptocurrency. The study provides a better understanding of cryptocurrency and investors IACR. The empirical evidence further develops the other individuals' intentions towards cryptocurrency usage.Intention to adopt cryptocurrency: a robust contribution of trust and the theory of planned behavior
Bahadur Ali Soomro, Naimatullah Shah, Nadia A. Abdelmegeed Abdelwahed
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

At present, the adoption of cryptocurrency investment has brought consideration to the globe. The present paper attempts to investigate the intention to adopt cryptocurrency (IACR) among the potential investors of Pakistan.

The theory of planned behavior (TPB) is applied to underpin the conceptual framework. The study uses a quantitative approach. The study collects cross-sectional data through an online survey questionnaire. In the last, the authors utilized 334 samples for outcomes.

Findings of the SEM reveal a significant positive effect of attitude, subjective norms (SNs), perceived behavioral control (PBC) and trust on IACR.

The outcomes of an investigation would develop further intention and trust towards cryptocurrency adoption. The results would support developing favorable policies regarding the reduction of the ban on cryptocurrency in Pakistan to make easier transactions of the investors further. Possibly, it brings several opportunities in all segments of society in making the digital transaction modes through cryptocurrency. Finally, the findings would further validate the TPB in the context of cryptocurrency.

The study provides a better understanding of cryptocurrency and investors IACR. The empirical evidence further develops the other individuals' intentions towards cryptocurrency usage.

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Intention to adopt cryptocurrency: a robust contribution of trust and the theory of planned behavior10.1108/JEAS-10-2021-0204Journal of Economic and Administrative Sciences2022-01-17© 2021 Emerald Publishing LimitedBahadur Ali SoomroNaimatullah ShahNadia A. Abdelmegeed AbdelwahedJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-01-1710.1108/JEAS-10-2021-0204https://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0204/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2021 Emerald Publishing Limited
Want to balance my work-family life today: work-family balance practices in Pakistanhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0207/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe qualitative study was conducted to examine work-family (W-F) balance practices in the collectivist culture of Pakistan. Keeping in view the context of Pakistan, three W-F practices, flexibility, childcare arrangement and social support, were studied by applying the theory of W-F balance. In total, 16 In-depth interviews from the bank operating in three different cities in Sindh, Pakistan. Data analysis showed that providing economic benefits and short working hours can achieve W-F balance. Nevertheless, the provision of flexibility in terms of short working hours is more important than economic benefits in balancing both domains of life. Secondly, the provision of childcare arrangements helps to balance work and home life. This practice favors females more compared to males. Thirdly, supervisor and co-worker support is most important in creating W-F balance than family support. It is crucial to understand the W-F balance practices in developing countries; the bank should encourage policies related to flexibility, childcare arrangement and social support in Pakistan. In addition, banks should take the initiative to develop a way that facilitates the employees' social support, which should consequently help to achieve the W-F balance. It is crucial to understand the W-F balance practices in developing countries; the bank should encourage policies related to flexibility, childcare arrangement and social support in Pakistan. Banks should take an initiative to develop a way that facilitates the employees' social support which should consequently help to achieve the W-F balance. This research has a tremendous impact on society due to current changes in South Asian countries including Pakistan constitute a socio-cultural transition that directly affects working and family life. Given the importance of W-F balance in recent times, the authors identified and extended the W-F balance practices in the collectivist culture of Pakistan. This study is novel and contributes to the W-F balance literature by considering most primary W-F balance practices that employees require.Want to balance my work-family life today: work-family balance practices in Pakistan
Sumaiya Syed, Salman Bashir Memon, Abdul Qadir Shah
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The qualitative study was conducted to examine work-family (W-F) balance practices in the collectivist culture of Pakistan. Keeping in view the context of Pakistan, three W-F practices, flexibility, childcare arrangement and social support, were studied by applying the theory of W-F balance.

In total, 16 In-depth interviews from the bank operating in three different cities in Sindh, Pakistan.

Data analysis showed that providing economic benefits and short working hours can achieve W-F balance. Nevertheless, the provision of flexibility in terms of short working hours is more important than economic benefits in balancing both domains of life. Secondly, the provision of childcare arrangements helps to balance work and home life. This practice favors females more compared to males. Thirdly, supervisor and co-worker support is most important in creating W-F balance than family support.

It is crucial to understand the W-F balance practices in developing countries; the bank should encourage policies related to flexibility, childcare arrangement and social support in Pakistan. In addition, banks should take the initiative to develop a way that facilitates the employees' social support, which should consequently help to achieve the W-F balance.

It is crucial to understand the W-F balance practices in developing countries; the bank should encourage policies related to flexibility, childcare arrangement and social support in Pakistan. Banks should take an initiative to develop a way that facilitates the employees' social support which should consequently help to achieve the W-F balance.

This research has a tremendous impact on society due to current changes in South Asian countries including Pakistan constitute a socio-cultural transition that directly affects working and family life.

Given the importance of W-F balance in recent times, the authors identified and extended the W-F balance practices in the collectivist culture of Pakistan. This study is novel and contributes to the W-F balance literature by considering most primary W-F balance practices that employees require.

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Want to balance my work-family life today: work-family balance practices in Pakistan10.1108/JEAS-10-2021-0207Journal of Economic and Administrative Sciences2022-08-12© 2022 Emerald Publishing LimitedSumaiya SyedSalman Bashir MemonAbdul Qadir ShahJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-08-1210.1108/JEAS-10-2021-0207https://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0207/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
The impact of National Home Grown School Feeding Programme (NHGSFP) on rural communities in Nigeriahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0211/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this paper is to critically examine the National Home Grown School Feeding Programme (NHGSFP) in Nigeria. Its special focus is to investigate the impact of NHGSFP on rural communities in Nigeria. This paper adopts a survey research technique, aimed at gathering information from a representative sample of the population, as it is essentially cross-sectional, describing and interpreting the current situation. A total of 2,400 households were sampled across the six geopolitical regions of Nigeria. The results from the use of a combined propensity score matching and logit model indicate that NHGSFP makes significant contributions to improving the health and educational status of rural school children, stimulates job creation and boosts rural economy. This implies that a well-designed and integrated Home Grown School Feeding Programme (HGSFP) can make significant contributions to improving food security at the household level, spurring job creation and boosting agricultural markets. This suggests the need for a purposeful engagement and support from all stakeholders to ensure the success of HGSFP. This research adds to the literature on school feeding in low-income countries. It concludes that school feeding programmes have been shown to directly increase the educational and nutritional status of recipient children and indirectly impact the economic and social lives of themselves and their family.The impact of National Home Grown School Feeding Programme (NHGSFP) on rural communities in Nigeria
Nduka Elda Okolo-Obasi, Joseph Ikechukwu Uduji
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this paper is to critically examine the National Home Grown School Feeding Programme (NHGSFP) in Nigeria. Its special focus is to investigate the impact of NHGSFP on rural communities in Nigeria.

This paper adopts a survey research technique, aimed at gathering information from a representative sample of the population, as it is essentially cross-sectional, describing and interpreting the current situation. A total of 2,400 households were sampled across the six geopolitical regions of Nigeria.

The results from the use of a combined propensity score matching and logit model indicate that NHGSFP makes significant contributions to improving the health and educational status of rural school children, stimulates job creation and boosts rural economy.

This implies that a well-designed and integrated Home Grown School Feeding Programme (HGSFP) can make significant contributions to improving food security at the household level, spurring job creation and boosting agricultural markets.

This suggests the need for a purposeful engagement and support from all stakeholders to ensure the success of HGSFP.

This research adds to the literature on school feeding in low-income countries. It concludes that school feeding programmes have been shown to directly increase the educational and nutritional status of recipient children and indirectly impact the economic and social lives of themselves and their family.

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The impact of National Home Grown School Feeding Programme (NHGSFP) on rural communities in Nigeria10.1108/JEAS-10-2021-0211Journal of Economic and Administrative Sciences2022-03-15© 2022 Emerald Publishing LimitedNduka Elda Okolo-ObasiJoseph Ikechukwu UdujiJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-03-1510.1108/JEAS-10-2021-0211https://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0211/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Dynamics of relationship between stock markets of SAARC countries during COVID-19 pandemichttps://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0213/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe paper investigates the dynamic relationship among the stock markets of South Asian Association of Regional Cooperation (SAARC) countries during the COVID-19 pandemic. Daily time-series data of four SAARC countries: India, Bangladesh, Pakistan, and Sri Lanka, from February 13th, 2013 to March 31st, 2021 are used. The study considers stock prices prior to the blowout of COVID-19 and during the onset of the pandemic. The novel estimation procedure of the autoregressive distributed lag model is used while the results are also confirmed by post-estimation techniques. The study confirms that the COVID-19 contagion has adversely influenced the stock returns of SAARC countries. The findings signify that the pattern of cointegration has significantly different regularities in the pattern of causality in the long run and short run during the COVID-19 crisis. Overall, the study revealed that the COVID-19 pandemic has weakened the dynamic connection among the stock markets of SAARC countries. To dampen uncertainties generated by the COVID-19 pandemic, the authorities and central banks should be equipped with efficient strategies and guidelines to cope with the crisis created by the pandemic. Further, governments should focus on assuaging the panic faced by investors and enhancing the confidence of domestic as well as foreign investors. Further, the weakened integration of financial markets during the crisis offers opportunities for speculative and arbitrage gains for investors. The research work is an innovative effort to analyze the impression led by COVID-19 on the SAARC stock markets integration.Dynamics of relationship between stock markets of SAARC countries during COVID-19 pandemic
Vandana Arya, Shveta Singh
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The paper investigates the dynamic relationship among the stock markets of South Asian Association of Regional Cooperation (SAARC) countries during the COVID-19 pandemic.

Daily time-series data of four SAARC countries: India, Bangladesh, Pakistan, and Sri Lanka, from February 13th, 2013 to March 31st, 2021 are used. The study considers stock prices prior to the blowout of COVID-19 and during the onset of the pandemic. The novel estimation procedure of the autoregressive distributed lag model is used while the results are also confirmed by post-estimation techniques.

The study confirms that the COVID-19 contagion has adversely influenced the stock returns of SAARC countries. The findings signify that the pattern of cointegration has significantly different regularities in the pattern of causality in the long run and short run during the COVID-19 crisis. Overall, the study revealed that the COVID-19 pandemic has weakened the dynamic connection among the stock markets of SAARC countries.

To dampen uncertainties generated by the COVID-19 pandemic, the authorities and central banks should be equipped with efficient strategies and guidelines to cope with the crisis created by the pandemic. Further, governments should focus on assuaging the panic faced by investors and enhancing the confidence of domestic as well as foreign investors. Further, the weakened integration of financial markets during the crisis offers opportunities for speculative and arbitrage gains for investors.

The research work is an innovative effort to analyze the impression led by COVID-19 on the SAARC stock markets integration.

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Dynamics of relationship between stock markets of SAARC countries during COVID-19 pandemic10.1108/JEAS-10-2021-0213Journal of Economic and Administrative Sciences2022-07-21© 2022 Emerald Publishing LimitedVandana AryaShveta SinghJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-07-2110.1108/JEAS-10-2021-0213https://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0213/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Persistent inefficiency, transient inefficiency and firm unobserved heterogeneity: a comparison of two frontier approaches using simulated and real datahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0216/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestRecent advances in stochastic frontier analysis (SFA) suggest two alternative approaches to account for unobserved heterogeneity and to distinguish between persistent and transient inefficiency. The first approach is the generalized true random effects (GTRE) model, and the second approach is an autoregressive inefficiency (ARI) model. This study compares them to highlight whether they capture similar inefficiency aspects. Using recent methodological advances in SFA, the authors estimate the GTRE and the ARI models using a Monte Carlo experiment and two real datasets from two industries (banking and agriculture). The authors find that the two models provide quite different results in terms of inefficiency persistence and overall inefficiency (combination of transient and persistent inefficiency), regardless of the dataset considered. The study findings suggest that researchers should be careful when referring to these two models because they do not capture the same inefficiency aspects, even though they have the same conceptual basis. This work is a warning about the empirical aspects of the persistent and transient efficiency framework, in order to convey a consistent story to the reader on firms' performance. Even though they are used in a large number of studies, the present paper contributes to the productivity and efficiency literature by providing the first comparison of the GTRE and the ARI models.Persistent inefficiency, transient inefficiency and firm unobserved heterogeneity: a comparison of two frontier approaches using simulated and real data
Jean-Joseph Minviel, Yawose Kudawoo, Faten Ben Bouheni
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Recent advances in stochastic frontier analysis (SFA) suggest two alternative approaches to account for unobserved heterogeneity and to distinguish between persistent and transient inefficiency. The first approach is the generalized true random effects (GTRE) model, and the second approach is an autoregressive inefficiency (ARI) model. This study compares them to highlight whether they capture similar inefficiency aspects.

Using recent methodological advances in SFA, the authors estimate the GTRE and the ARI models using a Monte Carlo experiment and two real datasets from two industries (banking and agriculture).

The authors find that the two models provide quite different results in terms of inefficiency persistence and overall inefficiency (combination of transient and persistent inefficiency), regardless of the dataset considered.

The study findings suggest that researchers should be careful when referring to these two models because they do not capture the same inefficiency aspects, even though they have the same conceptual basis. This work is a warning about the empirical aspects of the persistent and transient efficiency framework, in order to convey a consistent story to the reader on firms' performance.

Even though they are used in a large number of studies, the present paper contributes to the productivity and efficiency literature by providing the first comparison of the GTRE and the ARI models.

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Persistent inefficiency, transient inefficiency and firm unobserved heterogeneity: a comparison of two frontier approaches using simulated and real data10.1108/JEAS-10-2021-0216Journal of Economic and Administrative Sciences2022-04-26© 2022 Emerald Publishing LimitedJean-Joseph MinvielYawose KudawooFaten Ben BouheniJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-04-2610.1108/JEAS-10-2021-0216https://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0216/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Revisiting fiscal deficit sustainability in South Africahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0217/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study reexamines fiscal deficit sustainability in South Africa. The study applies three cointegration testing approaches, namely testing for multiple structural changes in a cointegrated regression model, time-varying cointegration test and asymmetric cointegration test. The results point to the existence of a level relationship between government revenue and spending. In addition, the long-run equilibrium relationship between government revenue and spending in South Africa is found to be characterized by breaks. As such, assuming a constant cointegrating slope may be misleading. Results from time-varying cointegration and an estimation of a cointegrated two-break model indicate that cointegrating coefficient has been time-varying but has remained less than 1 for the entire study period, indicating that fiscal deficits have been weakly sustainable. This finding is also confirmed by the results from an estimated asymmetric error correction model. In view of the findings, authorities should put in place policies to improve the fiscal budgetary stance and reinforce the sustainability of the fiscal deficits in South Africa. Among other things, South Africa could undertake reforms to state-owned companies to reduce their reliance on public funds, slow down the pace of the public sector wage growth and devise effective economic measures to boost long-term growth. In addition, tax compliance and other revenue collection measures should be enhanced for additional tax revenue. The contribution of this study is twofold; first, the study uses a long series of annual data spanning over a century, from 1913 to 2020. Indeed, cointegration is better modeled using long spans of time series data. Second, to examine the existence of a level relationship between spending and revenue, the study uses cointegration tests which allow capturing time-variation in the cointegrating slope coefficient, and accounting for asymmetries in the relationship between government spending and revenue. It is important to allow for time-variation in the cointegrating slope coefficient, especially when it has been hardly treated in the empirical literature on fiscal deficit sustainability. Allowing for time-variation in the cointegrating slope coefficient helps us to analyze fiscal deficit sustainability by periods of time. Indeed, the degree of fiscal sustainability can change from one time period to another.Revisiting fiscal deficit sustainability in South Africa
Arcade Ndoricimpa
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study reexamines fiscal deficit sustainability in South Africa.

The study applies three cointegration testing approaches, namely testing for multiple structural changes in a cointegrated regression model, time-varying cointegration test and asymmetric cointegration test.

The results point to the existence of a level relationship between government revenue and spending. In addition, the long-run equilibrium relationship between government revenue and spending in South Africa is found to be characterized by breaks. As such, assuming a constant cointegrating slope may be misleading. Results from time-varying cointegration and an estimation of a cointegrated two-break model indicate that cointegrating coefficient has been time-varying but has remained less than 1 for the entire study period, indicating that fiscal deficits have been weakly sustainable. This finding is also confirmed by the results from an estimated asymmetric error correction model.

In view of the findings, authorities should put in place policies to improve the fiscal budgetary stance and reinforce the sustainability of the fiscal deficits in South Africa. Among other things, South Africa could undertake reforms to state-owned companies to reduce their reliance on public funds, slow down the pace of the public sector wage growth and devise effective economic measures to boost long-term growth. In addition, tax compliance and other revenue collection measures should be enhanced for additional tax revenue.

The contribution of this study is twofold; first, the study uses a long series of annual data spanning over a century, from 1913 to 2020. Indeed, cointegration is better modeled using long spans of time series data. Second, to examine the existence of a level relationship between spending and revenue, the study uses cointegration tests which allow capturing time-variation in the cointegrating slope coefficient, and accounting for asymmetries in the relationship between government spending and revenue. It is important to allow for time-variation in the cointegrating slope coefficient, especially when it has been hardly treated in the empirical literature on fiscal deficit sustainability. Allowing for time-variation in the cointegrating slope coefficient helps us to analyze fiscal deficit sustainability by periods of time. Indeed, the degree of fiscal sustainability can change from one time period to another.

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Revisiting fiscal deficit sustainability in South Africa10.1108/JEAS-10-2021-0217Journal of Economic and Administrative Sciences2022-04-26© 2022 Emerald Publishing LimitedArcade NdoricimpaJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-04-2610.1108/JEAS-10-2021-0217https://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0217/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Governance quality and momentum returns: international evidencehttps://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0218/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestMomentum returns are considered an anomaly in the finance literature as their existence cannot be fully explained under the asset pricing paradigm. This study attempts to shed more light on this anomaly by investigating the determinants of momentum returns. The panel data technique is applied to the sample of 40 countries worldwide from 1996 to 2018. The authors use the panel-corrected standard error (PCSE) model to estimate the coefficient of World Governance Indicators (WGI), whereas the fixed effect model is used to determine the coefficient for corporate governance indicators (CGIs). The choice of PCSE estimation methods is guided by the fact that WGI variables are subjected to serial correlation, heteroskedasticity and cross-sectional dependence problems while CGI variables are not. Furthermore, a composite WGI index is constructed using principal component analysis (PCA). Regression analysis shows a negative and significant relationship between WGI index and momentum returns. The negative coefficient value of WGI supports the prediction of the overreaction hypothesis, which postulates a lower behavioral bias in the market with high governance quality. Breaking down of the WGI by their six indicators reveals that four of the indicators (control over corruption, government effectiveness, stability and avoidance of violence) are negative statistically significant with momentum returns while two indicators are not significant. As for CGIs, only one (strength of investor protection) of the four tested indicators is negative and significantly related to momentum returns. The study fills the gap in economic literature by highlighting the association between governance quality at the country (WGI) and firm level (CGI) on stock momentum returns.Governance quality and momentum returns: international evidence
Zulfiqar Ali Imran, Woei Chyuan Wong, Rusmawati Binti Ismail
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Momentum returns are considered an anomaly in the finance literature as their existence cannot be fully explained under the asset pricing paradigm. This study attempts to shed more light on this anomaly by investigating the determinants of momentum returns.

The panel data technique is applied to the sample of 40 countries worldwide from 1996 to 2018. The authors use the panel-corrected standard error (PCSE) model to estimate the coefficient of World Governance Indicators (WGI), whereas the fixed effect model is used to determine the coefficient for corporate governance indicators (CGIs). The choice of PCSE estimation methods is guided by the fact that WGI variables are subjected to serial correlation, heteroskedasticity and cross-sectional dependence problems while CGI variables are not. Furthermore, a composite WGI index is constructed using principal component analysis (PCA).

Regression analysis shows a negative and significant relationship between WGI index and momentum returns. The negative coefficient value of WGI supports the prediction of the overreaction hypothesis, which postulates a lower behavioral bias in the market with high governance quality. Breaking down of the WGI by their six indicators reveals that four of the indicators (control over corruption, government effectiveness, stability and avoidance of violence) are negative statistically significant with momentum returns while two indicators are not significant. As for CGIs, only one (strength of investor protection) of the four tested indicators is negative and significantly related to momentum returns.

The study fills the gap in economic literature by highlighting the association between governance quality at the country (WGI) and firm level (CGI) on stock momentum returns.

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Governance quality and momentum returns: international evidence10.1108/JEAS-10-2021-0218Journal of Economic and Administrative Sciences2022-05-13© 2022 Emerald Publishing LimitedZulfiqar Ali ImranWoei Chyuan WongRusmawati Binti IsmailJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-05-1310.1108/JEAS-10-2021-0218https://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0218/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
A validity of environmental Kuznets curve under the role of urbanization, financial development index and foreign direct investment in Pakistanhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0219/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis research aims to inspect the existence of the “environmental Kuznets curve” (EKC) in the presence of foreign direct investment (FDI), financial development (FD) and urbanization throughout 1972–2018 for Pakistan. For time series analysis, Phillips and Perron (PP) and Augmented Dickey–Fuller (ADF) unit root tests are used to confirm the level of integration. For robustness, Kim and Perron (2009)’s structural break unit root test is employed, which identifies the order of integration in the presence of structural break years. Further, combined cointegration analysis is performed to confirm the existence of a long-run association between underlying variables. Furthermore, autoregressive distributed lag (ARDL) analysis is employed for the robustness of the cointegration approach. The cointegration analysis confirms the existence of a long-run association among variables. The authors find a positive and significant impact of urbanization, FD and foreign development on environmental degradation in the long run. Similarly, only FDI increases environmental degradation in the short run. In addition, the authors find an inverted U-shape relationship between economic growth and environmental quality which, further, confirms the presence of EKC in Pakistan. This research contributes to applied economics in many ways: the combined effect of urbanization, FD, FDI and economic growth on carbon dioxide (CO2) emission is checked simultaneously. To avoid ambiguity, this study constructs the FD index through the principal component analysis (PCA). Moreover, the role of structural breaks has been considered through the analysis. Novel Bayer-Hanck combined cointegration analysis is employed to detect the existence of long-run relationships among underlying variables.A validity of environmental Kuznets curve under the role of urbanization, financial development index and foreign direct investment in Pakistan
Abdul Farooq, Ahsan Anwar, Muhammad Ahad, Ghulam Shabbir, Zulfiqar Ali Imran
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This research aims to inspect the existence of the “environmental Kuznets curve” (EKC) in the presence of foreign direct investment (FDI), financial development (FD) and urbanization throughout 1972–2018 for Pakistan.

For time series analysis, Phillips and Perron (PP) and Augmented Dickey–Fuller (ADF) unit root tests are used to confirm the level of integration. For robustness, Kim and Perron (2009)’s structural break unit root test is employed, which identifies the order of integration in the presence of structural break years. Further, combined cointegration analysis is performed to confirm the existence of a long-run association between underlying variables. Furthermore, autoregressive distributed lag (ARDL) analysis is employed for the robustness of the cointegration approach.

The cointegration analysis confirms the existence of a long-run association among variables. The authors find a positive and significant impact of urbanization, FD and foreign development on environmental degradation in the long run. Similarly, only FDI increases environmental degradation in the short run. In addition, the authors find an inverted U-shape relationship between economic growth and environmental quality which, further, confirms the presence of EKC in Pakistan.

This research contributes to applied economics in many ways: the combined effect of urbanization, FD, FDI and economic growth on carbon dioxide (CO2) emission is checked simultaneously. To avoid ambiguity, this study constructs the FD index through the principal component analysis (PCA). Moreover, the role of structural breaks has been considered through the analysis. Novel Bayer-Hanck combined cointegration analysis is employed to detect the existence of long-run relationships among underlying variables.

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A validity of environmental Kuznets curve under the role of urbanization, financial development index and foreign direct investment in Pakistan10.1108/JEAS-10-2021-0219Journal of Economic and Administrative Sciences2021-12-31© 2021 Emerald Publishing LimitedAbdul FarooqAhsan AnwarMuhammad AhadGhulam ShabbirZulfiqar Ali ImranJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2021-12-3110.1108/JEAS-10-2021-0219https://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2021-0219/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2021 Emerald Publishing Limited
How do skilled workers find jobs in India?: an assessment study of employment exchanges in Indiahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2022-0234/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestEmployment exchanges have been playing a significant role in the worldwide labor market for more than a hundred years now. In India, since 1946, millions of aspiring Indian youths have registered themselves with the government-run employment exchanges to find a job. About four million job seekers got registered at 1,000 employment exchanges in India, it is important to analyze the placement statistics of these exchanges. In recent years, new methods of job search have evolved. This study examines whether employment exchanges are effective in the changed scenario? Using state-level employment exchange data for the period 2010–2011 to 2019–2020, this study analyzes the determinants of job placement at employment exchanges in India. A critical analysis of the functioning of employment exchanges along with recommendations to improve the job search ecosystem in India is also presented in the study. This study found that increased share of service sector in the state economy negatively impacts placement at employment exchanges. The absence of focus on the service sector requires policy intervention if Indian employment exchanges are to remain relavant. The government administration should rethink that ignoring service sector employment potential is unaffordable for an emerging economy and employment exchanges should be aligned accordingly. About 30 million people are unemployed in India. If employment exchanges are transformed, it can have far-reaching socio-economic advantages. This study is the first sub-country level study on the institution of employment exchanges. This study comprehensively maps the landscape of career services in India. Empirically establishing the impact of sectoral structure of economy on efficacy of employment exchanges, and makes the case for policy intervention that is needed to keep the employment exchanges relevant in India.How do skilled workers find jobs in India?: an assessment study of employment exchanges in India
Rajesh Gupta, Navya Bagga
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Employment exchanges have been playing a significant role in the worldwide labor market for more than a hundred years now. In India, since 1946, millions of aspiring Indian youths have registered themselves with the government-run employment exchanges to find a job. About four million job seekers got registered at 1,000 employment exchanges in India, it is important to analyze the placement statistics of these exchanges. In recent years, new methods of job search have evolved. This study examines whether employment exchanges are effective in the changed scenario?

Using state-level employment exchange data for the period 2010–2011 to 2019–2020, this study analyzes the determinants of job placement at employment exchanges in India. A critical analysis of the functioning of employment exchanges along with recommendations to improve the job search ecosystem in India is also presented in the study.

This study found that increased share of service sector in the state economy negatively impacts placement at employment exchanges.

The absence of focus on the service sector requires policy intervention if Indian employment exchanges are to remain relavant.

The government administration should rethink that ignoring service sector employment potential is unaffordable for an emerging economy and employment exchanges should be aligned accordingly.

About 30 million people are unemployed in India. If employment exchanges are transformed, it can have far-reaching socio-economic advantages.

This study is the first sub-country level study on the institution of employment exchanges. This study comprehensively maps the landscape of career services in India. Empirically establishing the impact of sectoral structure of economy on efficacy of employment exchanges, and makes the case for policy intervention that is needed to keep the employment exchanges relevant in India.

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How do skilled workers find jobs in India?: an assessment study of employment exchanges in India10.1108/JEAS-10-2022-0234Journal of Economic and Administrative Sciences2022-12-14© 2022 Emerald Publishing LimitedRajesh GuptaNavya BaggaJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-12-1410.1108/JEAS-10-2022-0234https://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2022-0234/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Factors influencing SMEs’ intention to adopt electronic tendering: empirical evidence from an emerging African markethttps://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2022-0235/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestDespite the digitalization reforms attempting to enhance public service quality, paper-based tendering is still widely used in a number of developing countries (i.e. Morocco). This has led to many issues including waste of time, higher costs as well as labor-intensive issues. E-tendering has been widely recommended as a key resolution. Still, both scholars and practitioners raised concerns related the readiness of small and medium enterprises (SMEs) to this digitalization process. The current research aims to investigate the key drivers of SMEs intention to adopt electronic tendering in the context of an emerging African market (i.e. Morocco). Specifically, the authors focus on SMEs contributing to the public procurement process and registered in the online portal recently created by the Moroccan government. To achieve this goal, the authors proposed a conceptual model combining the unified theory of acceptance and use of technology (UTAUT) and technology acceptance model (TAM). Based on data collected from suppliers participating in Moroccan public tenders, the authors empirically tested the conceptual model using a partial least squares (PLS) estimation. Facilitating conditions and social influence had a positive impact on SMEs intention to adopt electronic tendering. The study’s findings also convey a negative impact of effort expectancy on SMEs intent to adopt e-tendering. Unexpectedly, perceived performance had no significant impact on the intention to adopt electronic bidding among Moroccan SMEs. This research filled the gap in the literature with regards to SMEs e-Tendering readiness in emerging markets. With the recent digitalization reforms of public tendering in many developing economies (i.e. Morocco), the study findings can be used to improve not only government implementation of electronic bidding but also SMEs' user experience.Factors influencing SMEs’ intention to adopt electronic tendering: empirical evidence from an emerging African market
Souad Nassir, Imane Lebdaoui, Youssef Chetioui, Hind Lebdaoui
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Despite the digitalization reforms attempting to enhance public service quality, paper-based tendering is still widely used in a number of developing countries (i.e. Morocco). This has led to many issues including waste of time, higher costs as well as labor-intensive issues. E-tendering has been widely recommended as a key resolution. Still, both scholars and practitioners raised concerns related the readiness of small and medium enterprises (SMEs) to this digitalization process. The current research aims to investigate the key drivers of SMEs intention to adopt electronic tendering in the context of an emerging African market (i.e. Morocco). Specifically, the authors focus on SMEs contributing to the public procurement process and registered in the online portal recently created by the Moroccan government.

To achieve this goal, the authors proposed a conceptual model combining the unified theory of acceptance and use of technology (UTAUT) and technology acceptance model (TAM). Based on data collected from suppliers participating in Moroccan public tenders, the authors empirically tested the conceptual model using a partial least squares (PLS) estimation.

Facilitating conditions and social influence had a positive impact on SMEs intention to adopt electronic tendering. The study’s findings also convey a negative impact of effort expectancy on SMEs intent to adopt e-tendering. Unexpectedly, perceived performance had no significant impact on the intention to adopt electronic bidding among Moroccan SMEs.

This research filled the gap in the literature with regards to SMEs e-Tendering readiness in emerging markets. With the recent digitalization reforms of public tendering in many developing economies (i.e. Morocco), the study findings can be used to improve not only government implementation of electronic bidding but also SMEs' user experience.

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Factors influencing SMEs’ intention to adopt electronic tendering: empirical evidence from an emerging African market10.1108/JEAS-10-2022-0235Journal of Economic and Administrative Sciences2023-06-02© 2023 Emerald Publishing LimitedSouad NassirImane LebdaouiYoussef ChetiouiHind LebdaouiJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-06-0210.1108/JEAS-10-2022-0235https://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2022-0235/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
An analysis of stock markets integration and dynamics of volatility spillover in emerging nationshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2022-0236/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestBRICS (Brazil, Russia, India, China, and South Africa) a group of five emerging nations that are expected to lead the global economy by the year 2050. The growth potential of these nations attracts investors from all over the world who are in search of maximizing the return on their investments and limiting the losses to the lowest possible level. The purpose of this research study is to determine whether or not Indian stock market investors can diversify their stock market portfolios into other BRICS economies. A daily frequency of stock market closing data for the BRICS nations over a period of 2013–2021 has been considered and several econometric techniques have been applied. Starting with the Granger causality test for checking the direction of causality. The VAR technique is applied to find out whether the movement in the Indian stock market is influenced by its own past values or the past values of the other BRICS nations, and lastly, the DCC-MGARCH technique is applied to check the degree of integration or the volatility spillover from the Indian stock market to the stock markets of other BRICS nations. The results of the study indicated that in both the short term and long term, stock market volatility is spilling over from the Indian stock market to the stock markets of other BRICS nations. Hence, the study suggests that BRICS nations cannot be a destination for portfolio diversification for Indian stock market investors. The stock markets of emerging nations experience high volatility, which creates confusion for investors as to whether to invest or to abstain from portfolio diversification. At present, there is a gap in the existing literature to capture the stock market volatility of BRICS nations. This research study fills this research gap and confirms that BRICS nations cannot be a destination for portfolio diversification. Moreover, equity market experts, portfolio managers and researchers can all take advantage of this study.An analysis of stock markets integration and dynamics of volatility spillover in emerging nations
Imran Khan
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

BRICS (Brazil, Russia, India, China, and South Africa) a group of five emerging nations that are expected to lead the global economy by the year 2050. The growth potential of these nations attracts investors from all over the world who are in search of maximizing the return on their investments and limiting the losses to the lowest possible level. The purpose of this research study is to determine whether or not Indian stock market investors can diversify their stock market portfolios into other BRICS economies.

A daily frequency of stock market closing data for the BRICS nations over a period of 2013–2021 has been considered and several econometric techniques have been applied. Starting with the Granger causality test for checking the direction of causality. The VAR technique is applied to find out whether the movement in the Indian stock market is influenced by its own past values or the past values of the other BRICS nations, and lastly, the DCC-MGARCH technique is applied to check the degree of integration or the volatility spillover from the Indian stock market to the stock markets of other BRICS nations.

The results of the study indicated that in both the short term and long term, stock market volatility is spilling over from the Indian stock market to the stock markets of other BRICS nations. Hence, the study suggests that BRICS nations cannot be a destination for portfolio diversification for Indian stock market investors.

The stock markets of emerging nations experience high volatility, which creates confusion for investors as to whether to invest or to abstain from portfolio diversification. At present, there is a gap in the existing literature to capture the stock market volatility of BRICS nations. This research study fills this research gap and confirms that BRICS nations cannot be a destination for portfolio diversification. Moreover, equity market experts, portfolio managers and researchers can all take advantage of this study.

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An analysis of stock markets integration and dynamics of volatility spillover in emerging nations10.1108/JEAS-10-2022-0236Journal of Economic and Administrative Sciences2023-03-15© 2023 Emerald Publishing LimitedImran KhanJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-03-1510.1108/JEAS-10-2022-0236https://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2022-0236/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Survival of the fittest: do firms actively or passively learn survival?https://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2022-0239/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestIn the corporate world, there is no certainty of survival. This research aims to identify firm-level factors that increase or decrease a firm's probability of exit and survival. The study examines 153 listed textile sector firms in Pakistan over a 10-year period from 2009 to 2018, comprising 1,413 observations. The semi-parametric Cox regression model is used to process the results. The study finds that larger and exporting firms are more likely to survive, while those with a high ratio of fixed assets to total assets, high expenditure on advertising and variable costs are less likely to survive. The relationship between age and firm survival is inconclusive. Adaptability to the external environment provides a competitive advantage that is crucial for textile firms to reduce their chances of exit. The research is valuable for strategic managers and policymakers to identify focus areas to prevent firm exit. This study supports the active learning theory, which suggests that new entrants in the textile sector of Pakistan should focus on becoming active market players, increasing efficiency and reducing variable costs to survive.Survival of the fittest: do firms actively or passively learn survival?
Farah Naz, Mehma Kunwar, Atia Alam, Tooba Lutfullah
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

In the corporate world, there is no certainty of survival. This research aims to identify firm-level factors that increase or decrease a firm's probability of exit and survival.

The study examines 153 listed textile sector firms in Pakistan over a 10-year period from 2009 to 2018, comprising 1,413 observations. The semi-parametric Cox regression model is used to process the results.

The study finds that larger and exporting firms are more likely to survive, while those with a high ratio of fixed assets to total assets, high expenditure on advertising and variable costs are less likely to survive. The relationship between age and firm survival is inconclusive.

Adaptability to the external environment provides a competitive advantage that is crucial for textile firms to reduce their chances of exit. The research is valuable for strategic managers and policymakers to identify focus areas to prevent firm exit.

This study supports the active learning theory, which suggests that new entrants in the textile sector of Pakistan should focus on becoming active market players, increasing efficiency and reducing variable costs to survive.

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Survival of the fittest: do firms actively or passively learn survival?10.1108/JEAS-10-2022-0239Journal of Economic and Administrative Sciences2023-05-22© 2023 Emerald Publishing LimitedFarah NazMehma KunwarAtia AlamTooba LutfullahJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-05-2210.1108/JEAS-10-2022-0239https://www.emerald.com/insight/content/doi/10.1108/JEAS-10-2022-0239/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Modeling the volatility of exchange rate and international trade in Ghana: empirical evidence from GARCH and EGARCHhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2020-0187/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe volatility of exchange rate has generally been sighted as a primary cause for various shocks and instability in international trade of Ghana as witnessed over the years and most especially in recent times. Hence, owing to the increasing trade levels between Ghana and Ghana's global trading partners, the study aims to investigate if the trade–exchange rate volatility nexus in Ghana supports the positive, negative or ambiguous hypotheses? The study investigates the effects of Ghana's exchange rate volatility on international trade by designing import and export equations to estimate both short- and long-run specifications of the effect and employing the multivariate generalized autoregressive conditional heteroskedasticity (GARCH) with Baba, Engle, Kraft and Kroner (BEKK) specification developed by Engle and Kroner (1995) as a further check for the robustness of the findings. Monthly data between 1993 and 2017 on the real effective exchange rates of Ghana's trade with 143 trading partners were taken as the series for modeling the volatility using GARCH andexponential generalized autoregressive conditional heteroskedastic (EGARCH) models. The empirical results show that the volatility of exchange rate negatively impact export performances in the Ghanian economy. On the other hand, there was no sufficient evidence to support the observed positive effect of exchange rate volatility on imports, as the effects were only significant at 10% level in the long run. Thus, it is concluded that the finding cannot confirm a relationship between volatility and import. Thus, the results present differences in the direction of the effect of exchange rate volatility on imports and exports in the context of the Ghanaian economy. Considering the fragility of the Ghanaian economy and Ghana's macro-economic indicators, the study points at the crucial need for more integration of well-informed trade policies within the country's macro-economic policy framework to contain the impacts of exchange rate volatility on trade performances. The study contributes to literature by scope and method. More specifically, empirical studies have failed or provided little evidence uniquely on the Ghanaian economy's reaction to exchange rate volatility on the country's imports and exports. Additionally, most of the existing empirical studies measure exchange rate volatility using the standard deviation of the moving averages of the logarithmic transformation of exchange rates. This method is criticized because the method is unsuccessful in capturing the effects of potential booms and bursts of the exchange rate. The authors' study circumvents for these highlighted pitfalls. The study contributes to literature by scope and method. More specifically, empirical studies have failed or provided little evidence uniquely on the Ghanaian economy's reaction to exchange rate volatility on the country's imports and exports. Thus, the study chat a course for socio-economic dynamic of Ghanaian economy. The study contributes to literature by its scope and method, as extant empirical studies have provided little evidence specifically on the Ghanaian economy's reaction to exchange rate volatility. Additionally, most of the existing empirical studies measure exchange rate volatility using the standard deviation of the moving averages of the logarithmic transformation of exchange rates. This method is criticized because of the method's inadequacies in capturing the effects of potential booms and bursts of the exchange rate. The study thereby essentially circumvents for these highlighted pitfalls.Modeling the volatility of exchange rate and international trade in Ghana: empirical evidence from GARCH and EGARCH
Abdul-Razak Bawa Yussif, Stephen Taiwo Onifade, Ahmet Ay, Murat Canitez, Festus Victor Bekun
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The volatility of exchange rate has generally been sighted as a primary cause for various shocks and instability in international trade of Ghana as witnessed over the years and most especially in recent times. Hence, owing to the increasing trade levels between Ghana and Ghana's global trading partners, the study aims to investigate if the trade–exchange rate volatility nexus in Ghana supports the positive, negative or ambiguous hypotheses?

The study investigates the effects of Ghana's exchange rate volatility on international trade by designing import and export equations to estimate both short- and long-run specifications of the effect and employing the multivariate generalized autoregressive conditional heteroskedasticity (GARCH) with Baba, Engle, Kraft and Kroner (BEKK) specification developed by Engle and Kroner (1995) as a further check for the robustness of the findings. Monthly data between 1993 and 2017 on the real effective exchange rates of Ghana's trade with 143 trading partners were taken as the series for modeling the volatility using GARCH andexponential generalized autoregressive conditional heteroskedastic (EGARCH) models.

The empirical results show that the volatility of exchange rate negatively impact export performances in the Ghanian economy. On the other hand, there was no sufficient evidence to support the observed positive effect of exchange rate volatility on imports, as the effects were only significant at 10% level in the long run. Thus, it is concluded that the finding cannot confirm a relationship between volatility and import. Thus, the results present differences in the direction of the effect of exchange rate volatility on imports and exports in the context of the Ghanaian economy.

Considering the fragility of the Ghanaian economy and Ghana's macro-economic indicators, the study points at the crucial need for more integration of well-informed trade policies within the country's macro-economic policy framework to contain the impacts of exchange rate volatility on trade performances.

The study contributes to literature by scope and method. More specifically, empirical studies have failed or provided little evidence uniquely on the Ghanaian economy's reaction to exchange rate volatility on the country's imports and exports. Additionally, most of the existing empirical studies measure exchange rate volatility using the standard deviation of the moving averages of the logarithmic transformation of exchange rates. This method is criticized because the method is unsuccessful in capturing the effects of potential booms and bursts of the exchange rate. The authors' study circumvents for these highlighted pitfalls.

The study contributes to literature by scope and method. More specifically, empirical studies have failed or provided little evidence uniquely on the Ghanaian economy's reaction to exchange rate volatility on the country's imports and exports. Thus, the study chat a course for socio-economic dynamic of Ghanaian economy.

The study contributes to literature by its scope and method, as extant empirical studies have provided little evidence specifically on the Ghanaian economy's reaction to exchange rate volatility. Additionally, most of the existing empirical studies measure exchange rate volatility using the standard deviation of the moving averages of the logarithmic transformation of exchange rates. This method is criticized because of the method's inadequacies in capturing the effects of potential booms and bursts of the exchange rate. The study thereby essentially circumvents for these highlighted pitfalls.

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Modeling the volatility of exchange rate and international trade in Ghana: empirical evidence from GARCH and EGARCH10.1108/JEAS-11-2020-0187Journal of Economic and Administrative Sciences2022-01-04© 2021 Emerald Publishing LimitedAbdul-Razak Bawa YussifStephen Taiwo OnifadeAhmet AyMurat CanitezFestus Victor BekunJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-01-0410.1108/JEAS-11-2020-0187https://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2020-0187/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2021 Emerald Publishing Limited
Does working capital management affect firm profitability? Evidence from European Union countrieshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2021-0222/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe paper aims to investigate the dynamic relationship between working capital management and firm profitability for a sample of firms from eight European Union (EU) countries for the period 2006–2015. The panel regression model is used in the study. Firm profitability is measured using the return on assets (ROA) ratio, whilst cash conversation cycle, financial leverage, size, tangibility and cash flow ratio are used as independent variables. The novelty of this study is the use of cash flow ratio to develop the analysis firms by dividing them as healthy and nonhealthy. The paper reveals that working capital management affects firm profitability, and a positive relationship exists between them. The paper shows differences of working capital management and firm profitability across countries. The striking result of this study is that an inverted U-shape relationship exists between working capital management and firm profitability. Whereas the findings suggest that firms should be as close as possible to the optimal length of cash cycle to increase profitability, and managers should give a priority to working capital optimization. The authors consider results of this study relevant to both researchers and business policymakers in the field of working capital management policies.Does working capital management affect firm profitability? Evidence from European Union countries
Fitim Deari, Agim Kukeli, Nicoleta Barbuta-Misu, Florina Oana Virlanuta
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The paper aims to investigate the dynamic relationship between working capital management and firm profitability for a sample of firms from eight European Union (EU) countries for the period 2006–2015.

The panel regression model is used in the study. Firm profitability is measured using the return on assets (ROA) ratio, whilst cash conversation cycle, financial leverage, size, tangibility and cash flow ratio are used as independent variables. The novelty of this study is the use of cash flow ratio to develop the analysis firms by dividing them as healthy and nonhealthy.

The paper reveals that working capital management affects firm profitability, and a positive relationship exists between them. The paper shows differences of working capital management and firm profitability across countries. The striking result of this study is that an inverted U-shape relationship exists between working capital management and firm profitability. Whereas the findings suggest that firms should be as close as possible to the optimal length of cash cycle to increase profitability, and managers should give a priority to working capital optimization.

The authors consider results of this study relevant to both researchers and business policymakers in the field of working capital management policies.

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Does working capital management affect firm profitability? Evidence from European Union countries10.1108/JEAS-11-2021-0222Journal of Economic and Administrative Sciences2022-04-08© 2022 Emerald Publishing LimitedFitim DeariAgim KukeliNicoleta Barbuta-MisuFlorina Oana VirlanutaJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-04-0810.1108/JEAS-11-2021-0222https://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2021-0222/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Diversification benefits of Turkey-based investors: evidence from top trading partners based on a multivariate-GARCH approachhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2021-0226/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe aim of this study is to measure portfolio diversification benefits of the Turkey-based equity investors into top trading partner countries. Portfolio diversification benefits are analyzed from the viewpoint of two types of investors in Turkey: conventional equities investors and Islamic equity investors. In order to evaluate the time-varying correlations of the trading partner country's stock index returns with the Turkish stock index returns, the multivariate-generalized autoregressive conditional heteroskedasticity–dynamic conditional correlation (GARCH-DCC) is applied based on daily data covering 13 years' period between January 22, 2008 and January 22, 2021. The results revealed that the US stock indices provide the most diversified benefit for both conventional and Islamic Turkey-based equity investors. In general, Islamic indices exhibit relatively lower correlation with trading partners than conventional indices. Turkey and Russia are recorded as the most volatile indices. The diversification potential in trading partners for Turkey-based Islamic equity investors has not been studied yet. This study is to fill in this gap in the literature and to give fruitful insights to both conventional and Islamic investors.Diversification benefits of Turkey-based investors: evidence from top trading partners based on a multivariate-GARCH approach
Nagihan Kılıç, Burhan Uluyol, Kabir Hassan
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The aim of this study is to measure portfolio diversification benefits of the Turkey-based equity investors into top trading partner countries. Portfolio diversification benefits are analyzed from the viewpoint of two types of investors in Turkey: conventional equities investors and Islamic equity investors.

In order to evaluate the time-varying correlations of the trading partner country's stock index returns with the Turkish stock index returns, the multivariate-generalized autoregressive conditional heteroskedasticity–dynamic conditional correlation (GARCH-DCC) is applied based on daily data covering 13 years' period between January 22, 2008 and January 22, 2021.

The results revealed that the US stock indices provide the most diversified benefit for both conventional and Islamic Turkey-based equity investors. In general, Islamic indices exhibit relatively lower correlation with trading partners than conventional indices. Turkey and Russia are recorded as the most volatile indices.

The diversification potential in trading partners for Turkey-based Islamic equity investors has not been studied yet. This study is to fill in this gap in the literature and to give fruitful insights to both conventional and Islamic investors.

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Diversification benefits of Turkey-based investors: evidence from top trading partners based on a multivariate-GARCH approach10.1108/JEAS-11-2021-0226Journal of Economic and Administrative Sciences2022-05-13© 2022 Emerald Publishing LimitedNagihan KılıçBurhan UluyolKabir HassanJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-05-1310.1108/JEAS-11-2021-0226https://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2021-0226/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Role of institutions of exchange rate and economic growth in South Africahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2021-0229/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe use of exchange rate policies to stimulate economic growth (EG) has been the major macroeconomic policy of many economies. Hence, the attention of researchers and policymakers was drawn to the effect of undervaluation and/or overvaluation of currencies on sustainable EG. However, less attention has been paid to the importance of quality of economic institutions in shaping the relationship between exchange rate and EG. This study aims to explore the role of institutions of exchange rate and EG in South Africa This study, therefore, examines the role of economic institutions in the real exchange rate economic growth nexus by using auto regressive distributed lags model and vector error correction model for causality during the period 1971 to 2018. Also, Bayer and Hank method has applied for cointegration between the variables. The findings show that both real exchange rate and economic institutions have a negative effect on EG in both short-run and long-run. This implies that undervaluation has a negative effect on EG in South Africa. Therefore, the study concludes that undervaluation has a negative effect on EG in South Africa particularly when the quality of economic institutions is accounted for. The finding supports the J-curve hypothesis but is contrary to the Rodrik hypothesis. Hence, devaluation is not a desirable exchange rate policy for the South African economy. The study, therefore, recommends that developing countries like South Africa should focus on other viable exchange rate policies such as rather than undervaluation of currency to enhance EG.Role of institutions of exchange rate and economic growth in South Africa
Mehdi Seraj, Cagay Coskuner, Abdulkareem Alhassan
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The use of exchange rate policies to stimulate economic growth (EG) has been the major macroeconomic policy of many economies. Hence, the attention of researchers and policymakers was drawn to the effect of undervaluation and/or overvaluation of currencies on sustainable EG. However, less attention has been paid to the importance of quality of economic institutions in shaping the relationship between exchange rate and EG. This study aims to explore the role of institutions of exchange rate and EG in South Africa

This study, therefore, examines the role of economic institutions in the real exchange rate economic growth nexus by using auto regressive distributed lags model and vector error correction model for causality during the period 1971 to 2018. Also, Bayer and Hank method has applied for cointegration between the variables.

The findings show that both real exchange rate and economic institutions have a negative effect on EG in both short-run and long-run. This implies that undervaluation has a negative effect on EG in South Africa. Therefore, the study concludes that undervaluation has a negative effect on EG in South Africa particularly when the quality of economic institutions is accounted for. The finding supports the J-curve hypothesis but is contrary to the Rodrik hypothesis. Hence, devaluation is not a desirable exchange rate policy for the South African economy.

The study, therefore, recommends that developing countries like South Africa should focus on other viable exchange rate policies such as rather than undervaluation of currency to enhance EG.

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Role of institutions of exchange rate and economic growth in South Africa10.1108/JEAS-11-2021-0229Journal of Economic and Administrative Sciences2023-02-06© 2023 Emerald Publishing LimitedMehdi SerajCagay CoskunerAbdulkareem AlhassanJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-02-0610.1108/JEAS-11-2021-0229https://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2021-0229/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Mobile money for financial inclusion and saving practices: empirical evidence from Ghanahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2021-0232/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this paper is to explore the impact of mobile money on savings and saving practices among individuals in Ghana. Employing an instrumental variable (IV) estimation technique, comprehensive data from the Financial Inclusion Insight (FII) Survey is used, implemented by InterMedia company and conducted from December 2014 to January 2015 in Ghana. It is found that mobile money use generally increases savings and saving behavior among individuals in Ghana. In particular, our results show that mobile money use increases the probability of individuals saving for business startup or business expansion, child's education and emergencies. Also, for the heterogeneous effects of mobile money use on saving practices, strong evidence that the use of mobile money is more pronounced in rural areas than in urban centers is found. To the best of our knowledge, no empirical study has been done on Ghana to extensively examine how mobile money affects various saving practices in Ghana as it is done in this paper. The paper highlights the need for ongoing enhancement of financial inclusion in rural areas by the government of Ghana and other stakeholders to boost savings among rural folks, while not neglecting that in urban areas. Generally, the findings for this paper support the use of mobile money as a tool for enhancing the financial inclusion agenda by policymakers in Ghana and many other countries around the world.Mobile money for financial inclusion and saving practices: empirical evidence from Ghana
Paul Owusu Takyi, Constance Sorkpor, Grace Nkansa Asante
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this paper is to explore the impact of mobile money on savings and saving practices among individuals in Ghana.

Employing an instrumental variable (IV) estimation technique, comprehensive data from the Financial Inclusion Insight (FII) Survey is used, implemented by InterMedia company and conducted from December 2014 to January 2015 in Ghana.

It is found that mobile money use generally increases savings and saving behavior among individuals in Ghana. In particular, our results show that mobile money use increases the probability of individuals saving for business startup or business expansion, child's education and emergencies. Also, for the heterogeneous effects of mobile money use on saving practices, strong evidence that the use of mobile money is more pronounced in rural areas than in urban centers is found.

To the best of our knowledge, no empirical study has been done on Ghana to extensively examine how mobile money affects various saving practices in Ghana as it is done in this paper. The paper highlights the need for ongoing enhancement of financial inclusion in rural areas by the government of Ghana and other stakeholders to boost savings among rural folks, while not neglecting that in urban areas. Generally, the findings for this paper support the use of mobile money as a tool for enhancing the financial inclusion agenda by policymakers in Ghana and many other countries around the world.

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Mobile money for financial inclusion and saving practices: empirical evidence from Ghana10.1108/JEAS-11-2021-0232Journal of Economic and Administrative Sciences2022-04-26© 2022 Emerald Publishing LimitedPaul Owusu TakyiConstance SorkporGrace Nkansa AsanteJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-04-2610.1108/JEAS-11-2021-0232https://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2021-0232/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Linking LMX and schedule flexibility with employee innovative work behaviors: mediating role of employee empowerment and response to changehttps://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2021-0238/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe paper aims to investigate the determinants of workplace innovation behavior of women employees in Pakistan. With a growing share of women's participation in the labor force in developing economies, it is crucial to understand their behavior. The authors looked into various practices that drive women's innovative behavior using social exchange theory (SET) as a theoretical framework. This study is quantitative-based on the positivistic paradigm. Following the survey method technique, responses are collected from 317 female employees in the service industry. The authors used structural equation modeling for the data analysis. The results indicate a significant impact of leader-member exchange (LMX) on employee empowerment; schedule flexibility was also a possible predictor of workplace innovation behavior through mediating roles of employee empowerment and response to change. The study findings are consistent with the prior literature and according to the developed hypothesis. Further, women's response to change partially mediates women employees' empowerment and workplace innovation behaviors. In addition, LMX significantly affects women's response to change through women employees' empowerment, leading to workplace innovation behavior. The implication is that supervisors should be adaptable in working relationships with their women employees to bring positive workplace innovative behaviors. They create such exchanges with employees to make them feel that the organizations value them. The paper identifies the need to develop supportive supervisor-employee exchange relationships to encourage positive, innovative behavior in female employees. This paper examines the workplace innovation behavior of women employees in Pakistani patriarchal society and a male-dominating workplace environment.Linking LMX and schedule flexibility with employee innovative work behaviors: mediating role of employee empowerment and response to change
Saima Rafique, Naveed R. Khan, Shuaib Ahmed Soomro, Fazeelat Masood
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The paper aims to investigate the determinants of workplace innovation behavior of women employees in Pakistan. With a growing share of women's participation in the labor force in developing economies, it is crucial to understand their behavior. The authors looked into various practices that drive women's innovative behavior using social exchange theory (SET) as a theoretical framework.

This study is quantitative-based on the positivistic paradigm. Following the survey method technique, responses are collected from 317 female employees in the service industry. The authors used structural equation modeling for the data analysis.

The results indicate a significant impact of leader-member exchange (LMX) on employee empowerment; schedule flexibility was also a possible predictor of workplace innovation behavior through mediating roles of employee empowerment and response to change. The study findings are consistent with the prior literature and according to the developed hypothesis. Further, women's response to change partially mediates women employees' empowerment and workplace innovation behaviors. In addition, LMX significantly affects women's response to change through women employees' empowerment, leading to workplace innovation behavior.

The implication is that supervisors should be adaptable in working relationships with their women employees to bring positive workplace innovative behaviors. They create such exchanges with employees to make them feel that the organizations value them. The paper identifies the need to develop supportive supervisor-employee exchange relationships to encourage positive, innovative behavior in female employees.

This paper examines the workplace innovation behavior of women employees in Pakistani patriarchal society and a male-dominating workplace environment.

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Linking LMX and schedule flexibility with employee innovative work behaviors: mediating role of employee empowerment and response to change10.1108/JEAS-11-2021-0238Journal of Economic and Administrative Sciences2022-03-17© 2022 Emerald Publishing LimitedSaima RafiqueNaveed R. KhanShuaib Ahmed SoomroFazeelat MasoodJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-03-1710.1108/JEAS-11-2021-0238https://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2021-0238/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Is there a link between undernourishment, political climate and other socio-economic variables? Evidence from low-income countrieshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2021-0244/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe authors investigate the role played by the political climate and other covariates on the prevalence of undernourishment for 34 low-income countries across a 21-year period. Political climate is measured in terms of political freedoms and civil liberties. The authors follow a Granger causality approach, which looks at predictive causality (i.e. causality in a temporal sense). For the socio-economic data, the authors rely on annual time series data from the World Bank. Most of the findings are in keeping with our expectations: (1) Lowering women's fertility rate lowers undernourishment; (2) undernourishment converges to its long-run equilibrium path in response to changes in income, political climate, health expenditure, fertility rate and drinking water access; (3) the effect of an instantaneous shock from income, changes to the political climate, health expenditure, fertility rate and drinking water access on undernourishment are completely adjusted in the long run. One surprising result is that there is a positive and significant relationship between the prevalence of undernourishment and political freedom. The authors offer several possible explanations for this unexpected result. Given our results, careful attention to the co-curation of policies is desirable. As an example, the authors would advocate a more proactive role by the richer countries in terms of their commitments to foreign aid in addressing the identified problems. The authors use advanced panel data techniques, considering a long span of time. Unlike other studies which aim to establish correlations, the authors test for Granger causality.Is there a link between undernourishment, political climate and other socio-economic variables? Evidence from low-income countries
Parviz Dabir-Alai, Mak Arvin, Rudra P. Pradhan
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The authors investigate the role played by the political climate and other covariates on the prevalence of undernourishment for 34 low-income countries across a 21-year period.

Political climate is measured in terms of political freedoms and civil liberties. The authors follow a Granger causality approach, which looks at predictive causality (i.e. causality in a temporal sense). For the socio-economic data, the authors rely on annual time series data from the World Bank.

Most of the findings are in keeping with our expectations: (1) Lowering women's fertility rate lowers undernourishment; (2) undernourishment converges to its long-run equilibrium path in response to changes in income, political climate, health expenditure, fertility rate and drinking water access; (3) the effect of an instantaneous shock from income, changes to the political climate, health expenditure, fertility rate and drinking water access on undernourishment are completely adjusted in the long run. One surprising result is that there is a positive and significant relationship between the prevalence of undernourishment and political freedom. The authors offer several possible explanations for this unexpected result.

Given our results, careful attention to the co-curation of policies is desirable. As an example, the authors would advocate a more proactive role by the richer countries in terms of their commitments to foreign aid in addressing the identified problems.

The authors use advanced panel data techniques, considering a long span of time. Unlike other studies which aim to establish correlations, the authors test for Granger causality.

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Is there a link between undernourishment, political climate and other socio-economic variables? Evidence from low-income countries10.1108/JEAS-11-2021-0244Journal of Economic and Administrative Sciences2022-04-12© 2022 Emerald Publishing LimitedParviz Dabir-AlaiMak ArvinRudra P. PradhanJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-04-1210.1108/JEAS-11-2021-0244https://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2021-0244/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Impact of earnings management on dividend policy: does board independence matter?https://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2022-0246/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper empirically examines whether sophisticated governance mechanism affects the relationship between earnings management and dividend policy of non-financial firms. The sample of the study includes non-financial firms listed on the stock exchanges of twenty developed and developing economies from the period 2005–2017. The Generalized Method of Moments (GMM) was applied to estimate the econometric models. The results confirm the positive association between earning management and the dividend payout ratio of the sample firms. These findings are in line with the signaling theory, which suggests that firms engage in earnings manipulation to signal to the market that they can maintain a smooth dividend distribution. Moreover, findings suggest that board independence, being a mechanism of corporate governance, significantly negatively moderated the relationship between earnings management and the dividend payout ratio of non-financial firms. The findings provide valuable suggestions to government bodies, regulatory authorities and corporate managers to focus on the effectiveness of governance mechanisms to improve the reliability of financial reports. These findings imply that the effect of earning management on the dividend payout ratio is less pronounced in firms with more independent directors on the company board.Impact of earnings management on dividend policy: does board independence matter?
Aisha Javaid, Kaneez Fatima, Musarrat Karamat
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper empirically examines whether sophisticated governance mechanism affects the relationship between earnings management and dividend policy of non-financial firms.

The sample of the study includes non-financial firms listed on the stock exchanges of twenty developed and developing economies from the period 2005–2017. The Generalized Method of Moments (GMM) was applied to estimate the econometric models.

The results confirm the positive association between earning management and the dividend payout ratio of the sample firms. These findings are in line with the signaling theory, which suggests that firms engage in earnings manipulation to signal to the market that they can maintain a smooth dividend distribution. Moreover, findings suggest that board independence, being a mechanism of corporate governance, significantly negatively moderated the relationship between earnings management and the dividend payout ratio of non-financial firms.

The findings provide valuable suggestions to government bodies, regulatory authorities and corporate managers to focus on the effectiveness of governance mechanisms to improve the reliability of financial reports.

These findings imply that the effect of earning management on the dividend payout ratio is less pronounced in firms with more independent directors on the company board.

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Impact of earnings management on dividend policy: does board independence matter?10.1108/JEAS-11-2022-0246Journal of Economic and Administrative Sciences2023-11-03© 2023 Emerald Publishing LimitedAisha JavaidKaneez FatimaMusarrat KaramatJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-11-0310.1108/JEAS-11-2022-0246https://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2022-0246/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Determining factors to foster educators' pedagogical resilience: test of servant leadership and social cognitive theories in post-pandemic erahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2022-0249/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestRoles and responsibilities of higher education academics (educators) have dramatically changed since COVID-19 outbreak. Considering this, the present study applies servant leadership and social cognitive theories to test three determinants of pedagogical resilience, i.e. servant leadership, professional self-efficacy and workplace thriving. The study also tests moderation of professional self-efficacy between servant leadership and pedagogical resilience. Applying snowball sampling, time-lagged data were collected on T1 and T2 through survey questionnaire from 205 employees of six higher education institutes (HEIs) in Sindh, Pakistan. For data analysis, the study employed structural equation modeling using SmartPLS. Results indicate that servant leadership and professional self-efficacy predict pedagogical resilience of educators. Moreover, professional self-efficacy moderates the relationship between servant leadership and pedagogical resilience. This study has a few limitations. The study was conducted in HEIs of Pakistan, which are non-profit organizations. Given this, generalizability of findings in profit-making organizations is suggested with caution. Cross-cultural and cross-regional generalizability may also be challenging. Training, coaching and role modeling may improve efficacy of educators, which is vital to pedagogical resilience. Furthermore, servant leadership attributes (i.e. emotional support and empathy) may also enhance resilience. Rolling-out tailored training programs for boosting professional efficacy of existing faculty could be helpful in building pedagogical resilience. Fostering a culture of teamwork through adopting collaborative and state of the art educational technologies could also enhance self-efficacy, which is vital to resilience. This could be done when vice chancellors, rectors, HODs, etc., adopt servant leadership attributes to play their role by navigating a paradigm shift from traditional teaching platforms and physical meetings to digital educational tools. Post-pandemic educational management necessitates resilient workforce to handle any uncertain situation. Given this, the authors apply servant leadership and social cognitive theory and introduce a novel construct of “pedagogical resilience”. This paper offers unique theoretical contributions and suggests universities/HEIs to adopt servant leadership model and foster professional self-efficacy of educators for boosting their pedagogical resilience in times of uncertainty. Pedagogically resilient educators may be well equipped to adopt venerable pedagogical competencies, and could contribute significantly to the quality of higher education.Determining factors to foster educators' pedagogical resilience: test of servant leadership and social cognitive theories in post-pandemic era
Faisal Qamar, Sanam Soomro, Obed Rashdi Syed
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Roles and responsibilities of higher education academics (educators) have dramatically changed since COVID-19 outbreak. Considering this, the present study applies servant leadership and social cognitive theories to test three determinants of pedagogical resilience, i.e. servant leadership, professional self-efficacy and workplace thriving. The study also tests moderation of professional self-efficacy between servant leadership and pedagogical resilience.

Applying snowball sampling, time-lagged data were collected on T1 and T2 through survey questionnaire from 205 employees of six higher education institutes (HEIs) in Sindh, Pakistan. For data analysis, the study employed structural equation modeling using SmartPLS.

Results indicate that servant leadership and professional self-efficacy predict pedagogical resilience of educators. Moreover, professional self-efficacy moderates the relationship between servant leadership and pedagogical resilience.

This study has a few limitations. The study was conducted in HEIs of Pakistan, which are non-profit organizations. Given this, generalizability of findings in profit-making organizations is suggested with caution. Cross-cultural and cross-regional generalizability may also be challenging.

Training, coaching and role modeling may improve efficacy of educators, which is vital to pedagogical resilience. Furthermore, servant leadership attributes (i.e. emotional support and empathy) may also enhance resilience. Rolling-out tailored training programs for boosting professional efficacy of existing faculty could be helpful in building pedagogical resilience. Fostering a culture of teamwork through adopting collaborative and state of the art educational technologies could also enhance self-efficacy, which is vital to resilience. This could be done when vice chancellors, rectors, HODs, etc., adopt servant leadership attributes to play their role by navigating a paradigm shift from traditional teaching platforms and physical meetings to digital educational tools.

Post-pandemic educational management necessitates resilient workforce to handle any uncertain situation. Given this, the authors apply servant leadership and social cognitive theory and introduce a novel construct of “pedagogical resilience”. This paper offers unique theoretical contributions and suggests universities/HEIs to adopt servant leadership model and foster professional self-efficacy of educators for boosting their pedagogical resilience in times of uncertainty. Pedagogically resilient educators may be well equipped to adopt venerable pedagogical competencies, and could contribute significantly to the quality of higher education.

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Determining factors to foster educators' pedagogical resilience: test of servant leadership and social cognitive theories in post-pandemic era10.1108/JEAS-11-2022-0249Journal of Economic and Administrative Sciences2023-08-21© 2023 Emerald Publishing LimitedFaisal QamarSanam SoomroObed Rashdi SyedJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-08-2110.1108/JEAS-11-2022-0249https://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2022-0249/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Investigating nostalgia’s influence on brand lovehttps://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2022-0256/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe present study aims to deepen the understanding of the relationship between nostalgic brand positioning, nostalgic brand relationship dimensions and brand love. This study is based on the data collected from 401 citizens of Tehran aged over 18 years old. Respondents admitted that they have felt love for at least one Iranian brand in their lives. The data collected from a questionnaire and the hypothesized relationships were analyzed using the partial least squares approach using Smart PLS. The results showed that nostalgic brand positioning positively and significantly impacts nostalgic brand relationship dimensions. Also, there was a positive and significant relationship between nostalgic brand relationship dimensions and brand love. Nostalgic brand positioning has a significant effect on brand love through the mediating role of the nostalgic brand relationship. The major contribution of this research is that, based on the construal level theory and literature review, the authors developed a conceptual model in which nostalgic brand relationship dimensions, i.e. emotional attachment, brand local iconness, and brand authenticity, explain how nostalgic brand positioning results in brand love.Investigating nostalgia’s influence on brand love
Faraz Sadeghvaziri, Leila Shafeie
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The present study aims to deepen the understanding of the relationship between nostalgic brand positioning, nostalgic brand relationship dimensions and brand love.

This study is based on the data collected from 401 citizens of Tehran aged over 18 years old. Respondents admitted that they have felt love for at least one Iranian brand in their lives. The data collected from a questionnaire and the hypothesized relationships were analyzed using the partial least squares approach using Smart PLS.

The results showed that nostalgic brand positioning positively and significantly impacts nostalgic brand relationship dimensions. Also, there was a positive and significant relationship between nostalgic brand relationship dimensions and brand love. Nostalgic brand positioning has a significant effect on brand love through the mediating role of the nostalgic brand relationship.

The major contribution of this research is that, based on the construal level theory and literature review, the authors developed a conceptual model in which nostalgic brand relationship dimensions, i.e. emotional attachment, brand local iconness, and brand authenticity, explain how nostalgic brand positioning results in brand love.

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Investigating nostalgia’s influence on brand love10.1108/JEAS-11-2022-0256Journal of Economic and Administrative Sciences2024-01-01© 2023 Emerald Publishing LimitedFaraz SadeghvaziriLeila ShafeieJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2024-01-0110.1108/JEAS-11-2022-0256https://www.emerald.com/insight/content/doi/10.1108/JEAS-11-2022-0256/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Asymmetric effect of exchange rate and investors' sentiments on stock market performancehttps://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2020-0205/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study investigates the asymmetric effects of exchange rate and investors' sentiments simultaneously on stock market performance in the United States context. In addition, we have also considered the potential effect of the global financial crisis of 2008 on this nexus. We have employed the NARDL (nonlinear autoregressive distributed lag) model on monthly data ranging from January-1999 to December-2018 to investigate the asymmetric (short- and long-run) effects of exchange rate and investors' sentiments on stock market performance. We have also broken down the data into two segments, pre and post-crisis periods to capture the effect of the global financial crisis of 2008. The findings of the study reveal that exchange rate and investors' sentiments simultaneously affect stock market performance and omitting any of these variables can produce misleading results. Results also show that the effect of sentiments is stronger than the exchange rate. There is significant evidence of asymmetric short-run and long-run effects of both explanatory variables. Moreover, we have found different outcomes for pre and post-crisis periods. Specifically, the impact of macroeconomic variables on the stock market has been substantiated in the post-crisis period. Several studies are available which separately evidence the effects of investors' sentiments and exchange rate on performance of the stock market but they can suffer from the problem of omitted variable bias. This study is conducted to test the said effect simultaneously in a single model. Moreover, this study is considering short-run and long-run asymmetry in analyzing the effects of explanatory variables along with the inclusion of the global financial crisis of 2008.Asymmetric effect of exchange rate and investors' sentiments on stock market performance
Niaz Hussain Ghumro, Ishfaque Ahmed Soomro, Ghulam Abbas
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study investigates the asymmetric effects of exchange rate and investors' sentiments simultaneously on stock market performance in the United States context. In addition, we have also considered the potential effect of the global financial crisis of 2008 on this nexus.

We have employed the NARDL (nonlinear autoregressive distributed lag) model on monthly data ranging from January-1999 to December-2018 to investigate the asymmetric (short- and long-run) effects of exchange rate and investors' sentiments on stock market performance. We have also broken down the data into two segments, pre and post-crisis periods to capture the effect of the global financial crisis of 2008.

The findings of the study reveal that exchange rate and investors' sentiments simultaneously affect stock market performance and omitting any of these variables can produce misleading results. Results also show that the effect of sentiments is stronger than the exchange rate. There is significant evidence of asymmetric short-run and long-run effects of both explanatory variables. Moreover, we have found different outcomes for pre and post-crisis periods. Specifically, the impact of macroeconomic variables on the stock market has been substantiated in the post-crisis period.

Several studies are available which separately evidence the effects of investors' sentiments and exchange rate on performance of the stock market but they can suffer from the problem of omitted variable bias. This study is conducted to test the said effect simultaneously in a single model. Moreover, this study is considering short-run and long-run asymmetry in analyzing the effects of explanatory variables along with the inclusion of the global financial crisis of 2008.

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Asymmetric effect of exchange rate and investors' sentiments on stock market performance10.1108/JEAS-12-2020-0205Journal of Economic and Administrative Sciences2022-04-25© 2022 Emerald Publishing LimitedNiaz Hussain GhumroIshfaque Ahmed SoomroGhulam AbbasJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-04-2510.1108/JEAS-12-2020-0205https://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2020-0205/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Managerial perceptions in Indian apparel manufacturing: a firm-level surveyhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2020-0207/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe paper explores the managerial perceptions in Indian apparel manufacturing firms related to production performance, challenges faced, causes of low efficiency and the government support needed. A structured survey of Indian apparel manufacturing firms was undertaken in person and through the online mode; the questionnaire was designed to collect data on demographic profile of a firm using categorical questions and perceptions of its top managers using a five-point Likert scale. The survey findings reveal that most apparel manufacturing firms believe that exporting promotes efficiency and adopt output orientation to production, which may not be suitable in a competitive and uncertain environment. Machines are not used much for value-addition and labour related issues are most pressing challenges. Government support is expected for several aspects such as power supply and skill development. The paper is limited by the nature of the sampling method and sample size; perceptions should be explored without bias and with good judgement. The survey findings suggest that government policy should have a firm-specific approach to support improved production performance along with generic policies to build infrastructure and logistical facilities. To the best of authors’ knowledge, there has been no such exercise to study managerial perceptions related to production performance in Indian apparel manufacturing in the past decade.Managerial perceptions in Indian apparel manufacturing: a firm-level survey
Dhwani Gambhir, Seema Sharma
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The paper explores the managerial perceptions in Indian apparel manufacturing firms related to production performance, challenges faced, causes of low efficiency and the government support needed.

A structured survey of Indian apparel manufacturing firms was undertaken in person and through the online mode; the questionnaire was designed to collect data on demographic profile of a firm using categorical questions and perceptions of its top managers using a five-point Likert scale.

The survey findings reveal that most apparel manufacturing firms believe that exporting promotes efficiency and adopt output orientation to production, which may not be suitable in a competitive and uncertain environment. Machines are not used much for value-addition and labour related issues are most pressing challenges. Government support is expected for several aspects such as power supply and skill development.

The paper is limited by the nature of the sampling method and sample size; perceptions should be explored without bias and with good judgement.

The survey findings suggest that government policy should have a firm-specific approach to support improved production performance along with generic policies to build infrastructure and logistical facilities.

To the best of authors’ knowledge, there has been no such exercise to study managerial perceptions related to production performance in Indian apparel manufacturing in the past decade.

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Managerial perceptions in Indian apparel manufacturing: a firm-level survey10.1108/JEAS-12-2020-0207Journal of Economic and Administrative Sciences2022-03-29© 2022 Emerald Publishing LimitedDhwani GambhirSeema SharmaJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-03-2910.1108/JEAS-12-2020-0207https://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2020-0207/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Corporate level politics from managers and employees perspective and its impact on employees' job stress and job performancehttps://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2021-0246/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestPerception of organizational politics is one of the key factors of the organization's performance. Based on the principles of Game Theory, this study aims to examine the impact of management's and employee's politics within an organization on the psychological and organizational stress levels of workers, followed by their task and contextual performance. Following the non-probability convenience sampling technique, the data was collected from the managerial and non-managerial staff of public, private and semi-government services organizations in Rawalpindi, Islamabad, Lahore, Faisalabad, Gujranwala, Abbottabad and Karachi cities in Pakistan. The structural analyses indicate that organizational politics is a major cause of stress among workers and has a significant positive impact on the psychological and organizational stress of workers. Moreover, both organizational politics and job stress hinder workers' performance. The findings of the current research provide valuable insights into the management of firms about the destructive role of politics with a special focus on psychological and organizational stress, followed by job and contextual performance, particularly in the context of Pakistan. It also proposes strategies to counter this issue, improving worker's performance. Furthermore, the findings also suggest whether management or employees are more involved in organizational politics.Corporate level politics from managers and employees perspective and its impact on employees' job stress and job performance
Hina Khan, Jawad Abbas, Kalpina Kumari, Hina Najam
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Perception of organizational politics is one of the key factors of the organization's performance. Based on the principles of Game Theory, this study aims to examine the impact of management's and employee's politics within an organization on the psychological and organizational stress levels of workers, followed by their task and contextual performance.

Following the non-probability convenience sampling technique, the data was collected from the managerial and non-managerial staff of public, private and semi-government services organizations in Rawalpindi, Islamabad, Lahore, Faisalabad, Gujranwala, Abbottabad and Karachi cities in Pakistan.

The structural analyses indicate that organizational politics is a major cause of stress among workers and has a significant positive impact on the psychological and organizational stress of workers. Moreover, both organizational politics and job stress hinder workers' performance.

The findings of the current research provide valuable insights into the management of firms about the destructive role of politics with a special focus on psychological and organizational stress, followed by job and contextual performance, particularly in the context of Pakistan. It also proposes strategies to counter this issue, improving worker's performance. Furthermore, the findings also suggest whether management or employees are more involved in organizational politics.

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Corporate level politics from managers and employees perspective and its impact on employees' job stress and job performance10.1108/JEAS-12-2021-0246Journal of Economic and Administrative Sciences2022-04-21© 2022 Emerald Publishing LimitedHina KhanJawad AbbasKalpina KumariHina NajamJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-04-2110.1108/JEAS-12-2021-0246https://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2021-0246/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
The subjective well-being of self-employed persons: a national survey evidence from Ghanahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2021-0248/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to examine the subjective well-being of self-employed persons relative to wage employees in Ghana. Two measures of subjective well-being, comprising life satisfaction and happiness, are considered. The current study focuses on Ghanaian working adults, uses pooled cross-sectional datasets from the 2005 to 2014 World Values Survey (WVS), applies survey weights, estimates ordered probit models and computes marginal effects. The results show that being self-employed is associated with a lower probability of being satisfied with life than being wage employed. The result for happiness is negative but not statistically significant. The perceived low level of life satisfaction among the self-employed in Ghana could explain the rationale behind the desire of some Ghanaians to seek wage employment rather than pursuing self-employment. The results also could partly explain the non-survival of some entrepreneurial firms in Ghana over time. Data relating to factors such as business size, location (urban or rural), degree of internationalization (domestic or foreign), number of years of being in self-employment, the number of employees, financial knowledge and behavior and personality traits are unavailable in the WVS for analyses. The present study also uses a pooled cross-sectional dataset for the analyses; thus, causal inferences are not possible. The study provides empirical evidence on the relationship between self-employment and subjective well-being in the context of Ghana. The study provides insights into how self-employed Ghanaians perceive well-being relative to wage employees.The subjective well-being of self-employed persons: a national survey evidence from Ghana
Thomas Korankye, Joshua King Safo Lartey
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to examine the subjective well-being of self-employed persons relative to wage employees in Ghana. Two measures of subjective well-being, comprising life satisfaction and happiness, are considered.

The current study focuses on Ghanaian working adults, uses pooled cross-sectional datasets from the 2005 to 2014 World Values Survey (WVS), applies survey weights, estimates ordered probit models and computes marginal effects.

The results show that being self-employed is associated with a lower probability of being satisfied with life than being wage employed. The result for happiness is negative but not statistically significant. The perceived low level of life satisfaction among the self-employed in Ghana could explain the rationale behind the desire of some Ghanaians to seek wage employment rather than pursuing self-employment. The results also could partly explain the non-survival of some entrepreneurial firms in Ghana over time.

Data relating to factors such as business size, location (urban or rural), degree of internationalization (domestic or foreign), number of years of being in self-employment, the number of employees, financial knowledge and behavior and personality traits are unavailable in the WVS for analyses. The present study also uses a pooled cross-sectional dataset for the analyses; thus, causal inferences are not possible.

The study provides empirical evidence on the relationship between self-employment and subjective well-being in the context of Ghana. The study provides insights into how self-employed Ghanaians perceive well-being relative to wage employees.

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The subjective well-being of self-employed persons: a national survey evidence from Ghana10.1108/JEAS-12-2021-0248Journal of Economic and Administrative Sciences2022-04-04© 2022 Emerald Publishing LimitedThomas KorankyeJoshua King Safo LarteyJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-04-0410.1108/JEAS-12-2021-0248https://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2021-0248/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Entrepreneurs signaling: promoting equity crowdfunding in Lebanonhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2021-0249/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims at shedding light on the entrepreneurs' perception towards crowdfunding as a new mean for raising capital, and their willingness to send appropriate signals to the potential fund providers/backers. The research strategy is based on three methodological approaches: desk research on online sources, a map of the crowdfunding phenomenon, and a quantitative approach with a survey performed between June and December 2020. The survey covers a sample of 147 Small and Medium enterprises (SMEs) and startups, in addition to semi-structured interviews with 10 entrepreneurs. The study reveals that between losing their work and losing part of their firms' equity, entrepreneurs are keen on sending positive signals to backers. Moreover, they are willing to adopt a new way of thinking, as their primary goal is to save their firms, their jobs, and their source of income. The research highlights the concern of entrepreneurs of losing reputation, losing intellectual property, losing control, and of becoming only shareholders in their enterprises. The main limitation in this paper is that no single study in Lebanon adequately covers the topic and thus extensive research has been carried out on crowdfunding across the world and analyzed in the Lebanese context. Overcoming funding challenges can reduce brain drain, promote a culture of entrepreneurship, serve the economy, combat poverty, achieve more equitable society, increase the levels of expectations, and turn the flywheel. Moreover, the paper presents clear implications for the field of policy-making both in developing and developed countries. Considering the serious financial disintermediation and liquidity shortage Lebanon faces, the findings of this study show how important changing entrepreneurial culture and behavior is, and the crucial role crowdfunding could play in providing funds for the SMEs that form 95% of the total business sector in Lebanon.Entrepreneurs signaling: promoting equity crowdfunding in Lebanon
Mireille Chidiac El Hajj, May Chidiac, Ali Awdeh
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims at shedding light on the entrepreneurs' perception towards crowdfunding as a new mean for raising capital, and their willingness to send appropriate signals to the potential fund providers/backers.

The research strategy is based on three methodological approaches: desk research on online sources, a map of the crowdfunding phenomenon, and a quantitative approach with a survey performed between June and December 2020. The survey covers a sample of 147 Small and Medium enterprises (SMEs) and startups, in addition to semi-structured interviews with 10 entrepreneurs.

The study reveals that between losing their work and losing part of their firms' equity, entrepreneurs are keen on sending positive signals to backers. Moreover, they are willing to adopt a new way of thinking, as their primary goal is to save their firms, their jobs, and their source of income. The research highlights the concern of entrepreneurs of losing reputation, losing intellectual property, losing control, and of becoming only shareholders in their enterprises.

The main limitation in this paper is that no single study in Lebanon adequately covers the topic and thus extensive research has been carried out on crowdfunding across the world and analyzed in the Lebanese context.

Overcoming funding challenges can reduce brain drain, promote a culture of entrepreneurship, serve the economy, combat poverty, achieve more equitable society, increase the levels of expectations, and turn the flywheel. Moreover, the paper presents clear implications for the field of policy-making both in developing and developed countries.

Considering the serious financial disintermediation and liquidity shortage Lebanon faces, the findings of this study show how important changing entrepreneurial culture and behavior is, and the crucial role crowdfunding could play in providing funds for the SMEs that form 95% of the total business sector in Lebanon.

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Entrepreneurs signaling: promoting equity crowdfunding in Lebanon10.1108/JEAS-12-2021-0249Journal of Economic and Administrative Sciences2022-06-02© 2022 Emerald Publishing LimitedMireille Chidiac El HajjMay ChidiacAli AwdehJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-06-0210.1108/JEAS-12-2021-0249https://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2021-0249/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Economic resilience to the FDI shock during the COVID-19 pandemic: evidence from Asiahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2021-0250/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this paper is to study the impact of economic factors on foreign direct investment (FDI) inflows into Asian region before and after the COVID-19 pandemic. The study used the generalized method of moments (GMM) technique to examine the impact of economic growth, domestic investment and trade openness on FDI in the Asian region, in two periods from 1996 to 2018 and from 2019 to 2020. In the pre-COVID-19 period, the estimated result shows that the economic growth, domestic investment, imports and exports positively impact FDI. In the post-COVID-19 period, the FDI is influenced by the strength of the economic characteristics of the region. The main findings indicate that economic growth has a positive and significant effect on FDI inflows into Asia. The findings also show that the economic resilience to attract FDI in Asia is significantly affected by economic growth and positively affected by trade openness and government responses during the pandemic. The study suggests the Asian governments increasing the domestic investment and improving the quality of trade openness.Economic resilience to the FDI shock during the COVID-19 pandemic: evidence from Asia
Youssra Ben Romdhane, Souhaila Kammoun, Imen Werghi
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this paper is to study the impact of economic factors on foreign direct investment (FDI) inflows into Asian region before and after the COVID-19 pandemic.

The study used the generalized method of moments (GMM) technique to examine the impact of economic growth, domestic investment and trade openness on FDI in the Asian region, in two periods from 1996 to 2018 and from 2019 to 2020.

In the pre-COVID-19 period, the estimated result shows that the economic growth, domestic investment, imports and exports positively impact FDI. In the post-COVID-19 period, the FDI is influenced by the strength of the economic characteristics of the region. The main findings indicate that economic growth has a positive and significant effect on FDI inflows into Asia. The findings also show that the economic resilience to attract FDI in Asia is significantly affected by economic growth and positively affected by trade openness and government responses during the pandemic.

The study suggests the Asian governments increasing the domestic investment and improving the quality of trade openness.

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Economic resilience to the FDI shock during the COVID-19 pandemic: evidence from Asia10.1108/JEAS-12-2021-0250Journal of Economic and Administrative Sciences2022-05-17© 2022 Emerald Publishing LimitedYoussra Ben RomdhaneSouhaila KammounImen WerghiJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-05-1710.1108/JEAS-12-2021-0250https://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2021-0250/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
The impact of public legal protection on the internal corporate governance efficiency in banking sectorhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2021-0254/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this research is to reveal the impact of public legal protection on the efficiency of internal corporate governance in banks. In addition, this research proposes a new corporate governance index that could be employed by the banking sector to evaluate the performance of their internal corporate governance mechanisms. Orbis database, annual reports and direct questionnaire are used to collect corporate governance data of 127 banks from 14 countries during 2020. The Mann–Whitney U-test is employed to compare the efficiency of corporate governance mechanisms based on three subsamples of countries having different legal protection levels (weak, middle and strong). This research suggests a new corporate governance index for banks based on seven constructs and 62 variables. This new non-parametric index could be used by bankers to improve the monitoring process and enhance the overall performance of banking. The results of this research show that the existence of a strong public legal protection environment within a specific country enhances the efficiency of corporate governance mechanisms in the banking sector and thus, leads to improve the protection of shareholders, depositors and other relevant stakeholders. However, in countries that are characterized by weak legal protection level, the efficiency of corporate governance mechanisms is very low and there are possibilities of entrenchment, expropriation and extraction of private benefits. These findings could be interpreted within the prediction of agency, moral hazard, asymmetric information, political and entrenchment theories. This research paper provides information that bankers and other relevant stakeholders in the banking sector working in MENA (the Middle East and North Africa) and European countries. A strong public legal protection level could improve the efficiency of internal corporate governance mechanisms within banks.The impact of public legal protection on the internal corporate governance efficiency in banking sector
Hani El-Chaarani, Zouhour El-Abiad
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this research is to reveal the impact of public legal protection on the efficiency of internal corporate governance in banks. In addition, this research proposes a new corporate governance index that could be employed by the banking sector to evaluate the performance of their internal corporate governance mechanisms.

Orbis database, annual reports and direct questionnaire are used to collect corporate governance data of 127 banks from 14 countries during 2020. The Mann–Whitney U-test is employed to compare the efficiency of corporate governance mechanisms based on three subsamples of countries having different legal protection levels (weak, middle and strong).

This research suggests a new corporate governance index for banks based on seven constructs and 62 variables. This new non-parametric index could be used by bankers to improve the monitoring process and enhance the overall performance of banking. The results of this research show that the existence of a strong public legal protection environment within a specific country enhances the efficiency of corporate governance mechanisms in the banking sector and thus, leads to improve the protection of shareholders, depositors and other relevant stakeholders. However, in countries that are characterized by weak legal protection level, the efficiency of corporate governance mechanisms is very low and there are possibilities of entrenchment, expropriation and extraction of private benefits. These findings could be interpreted within the prediction of agency, moral hazard, asymmetric information, political and entrenchment theories.

This research paper provides information that bankers and other relevant stakeholders in the banking sector working in MENA (the Middle East and North Africa) and European countries. A strong public legal protection level could improve the efficiency of internal corporate governance mechanisms within banks.

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The impact of public legal protection on the internal corporate governance efficiency in banking sector10.1108/JEAS-12-2021-0254Journal of Economic and Administrative Sciences2022-04-21© 2022 Emerald Publishing LimitedHani El-ChaaraniZouhour El-AbiadJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-04-2110.1108/JEAS-12-2021-0254https://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2021-0254/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
The practical challenges faced by young entrepreneurs: an empirical analysishttps://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2021-0255/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study proposes a new comprehensive model of entrepreneurial intentions (EIs) that enhances the understanding of the crucial entrepreneurial personality traits. This study also examines how entrepreneurial family history, gender and discipline moderate the relationship between the key entrepreneurial personality traits and EIs of university students. The study introduces a new combination of important entrepreneurial personality traits, theoretically following the theory of planned behaviour (TPB). The data are collected using an entrepreneurial intention questionnaire and analysed with structural equation modelling (SEM) over a sample of 297 university students from Pakistan. The findings highlight that one of the notable contributions to assessing EI is the negative impact of foreseeable challenges (FCs), resulting in negative EIs among university students of our sample. The authors also found significant moderating roles of gender, discipline and entrepreneurial family history in strengthening the relationship between entrepreneurial traits and EIs. The study contributes both to the existing empirical and theoretical literature by examining a key set of entrepreneurial personality traits leading to enhance EIs. The results may also assist academicians to discover new ways for developing entrepreneurial traits among university students.The practical challenges faced by young entrepreneurs: an empirical analysis
Ambreen Khursheed, Faisal Mustafa, Maham Fatima, Marriam Rao
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study proposes a new comprehensive model of entrepreneurial intentions (EIs) that enhances the understanding of the crucial entrepreneurial personality traits. This study also examines how entrepreneurial family history, gender and discipline moderate the relationship between the key entrepreneurial personality traits and EIs of university students.

The study introduces a new combination of important entrepreneurial personality traits, theoretically following the theory of planned behaviour (TPB). The data are collected using an entrepreneurial intention questionnaire and analysed with structural equation modelling (SEM) over a sample of 297 university students from Pakistan.

The findings highlight that one of the notable contributions to assessing EI is the negative impact of foreseeable challenges (FCs), resulting in negative EIs among university students of our sample. The authors also found significant moderating roles of gender, discipline and entrepreneurial family history in strengthening the relationship between entrepreneurial traits and EIs.

The study contributes both to the existing empirical and theoretical literature by examining a key set of entrepreneurial personality traits leading to enhance EIs. The results may also assist academicians to discover new ways for developing entrepreneurial traits among university students.

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The practical challenges faced by young entrepreneurs: an empirical analysis10.1108/JEAS-12-2021-0255Journal of Economic and Administrative Sciences2022-08-30© 2022 Emerald Publishing LimitedAmbreen KhursheedFaisal MustafaMaham FatimaMarriam RaoJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-08-3010.1108/JEAS-12-2021-0255https://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2021-0255/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Policy challenges and testing the scope for regional trade integration – a case of South Asiahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2021-0263/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe paper presents the facts on the policy challenges and opportunities in the way forward of trade and economic co-operation in South Asia amid the coronavirus disease 2019, which comes to be the least economically integrated region worldwide. Due to tense geopolitics in South Asia, trade is heavily biased toward extra-regional markets despite of existing regional trade agreements (TAs) in the region. Having tested the stationarity of data with structural break, the paper uses intra-regional trade in addition to other domestic economic variables as exogenous regressors in autoregressive distributed lag multivariate framework, hence raising the quality of statistical inference. This paper highlights that intra-regional trade significantly affects the economic welfare as measured by Gross Domestic Product per capita of the people from the region, hence raising the need for higher regional trade openness. If trade barriers are overcome, all the South Asian countries will gain through effective implementation of regional TAs. The study relies on the multivariate technique with regional trade share as the main exogenous variable. In addition, the regulatory and economic conditions of all countries are different which also tends to affect the mutual degree of trade relations. Over the economic reasons, the manmade barriers owing to political differences are the root cause for the low intra-regional trade. Amid the pandemic, South Asian courtiers have the high time to leverage the bilateral trade for mutual benefits. India being the largest economy can play a decisive role in pushing forward the regional trade bloc – South Asian Association for Regional Cooperation (SAARC) – for achieving its objective through multilateral engagements in a wider perspective. The present study makes pioneer efforts to examine the dynamic linkages between regional trade and economic growth. The results provide new insight into the dynamics of benefits driven by trade interdependency.Policy challenges and testing the scope for regional trade integration – a case of South Asia
Rakesh Kumar
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The paper presents the facts on the policy challenges and opportunities in the way forward of trade and economic co-operation in South Asia amid the coronavirus disease 2019, which comes to be the least economically integrated region worldwide. Due to tense geopolitics in South Asia, trade is heavily biased toward extra-regional markets despite of existing regional trade agreements (TAs) in the region.

Having tested the stationarity of data with structural break, the paper uses intra-regional trade in addition to other domestic economic variables as exogenous regressors in autoregressive distributed lag multivariate framework, hence raising the quality of statistical inference.

This paper highlights that intra-regional trade significantly affects the economic welfare as measured by Gross Domestic Product per capita of the people from the region, hence raising the need for higher regional trade openness. If trade barriers are overcome, all the South Asian countries will gain through effective implementation of regional TAs.

The study relies on the multivariate technique with regional trade share as the main exogenous variable. In addition, the regulatory and economic conditions of all countries are different which also tends to affect the mutual degree of trade relations.

Over the economic reasons, the manmade barriers owing to political differences are the root cause for the low intra-regional trade. Amid the pandemic, South Asian courtiers have the high time to leverage the bilateral trade for mutual benefits. India being the largest economy can play a decisive role in pushing forward the regional trade bloc – South Asian Association for Regional Cooperation (SAARC) – for achieving its objective through multilateral engagements in a wider perspective.

The present study makes pioneer efforts to examine the dynamic linkages between regional trade and economic growth. The results provide new insight into the dynamics of benefits driven by trade interdependency.

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Policy challenges and testing the scope for regional trade integration – a case of South Asia10.1108/JEAS-12-2021-0263Journal of Economic and Administrative Sciences2022-05-31© 2022 Emerald Publishing LimitedRakesh KumarJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-05-3110.1108/JEAS-12-2021-0263https://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2021-0263/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Financial inclusion: a new multi-dimensional index and determinants – evidence from the Union for the Mediterranean countrieshttps://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2021-0266/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper proposes a new multi-dimensional financial inclusion index. The authors employ two-stage principal component analysis (PCA) and aggregating indicators of availability, access and use. The paper first assesses the cross-country variations in the index and analyses trends over time for a sample of countries members of the Union for the Mediterranean (UfM) from 2010–2018. Second, it investigates factors that could explain the level of financial inclusion across countries. The financial inclusion index shows a downward trend for the full sample over the period under investigation; however when splitting the sample by income group, it appears that high- and middle–income countries did not register the same trend. When examining the determinants of financial inclusion for the UfM countries, the authors find that macroeconomic, social and governance factors, as well as banking conditions, matter. Policy-makers in low- and middle-income economies should consider the importance of digital financial inclusion, which is substituting the role to traditional banking system, to close the gap and accelerate its development. First, the authors provide a new measure of financial inclusion using a three-dimensional index: availability, access and use, for which weights are assigned using PCA. It uses data available for the UfM sample by combining data from different databases in order to include most indicators considered in the literature, as the majority of studies only use single measures (number of bank branches, ownership of a bank account, ratio of credits or deposits to gross domestic product [GDP], etc.). Second, by focussing on UfM countries, the study covers a region that includes both large developed and small developing economies that are connected via financial and trade ties, whilst previous studies generally give global evidence from an international sample with little or no economic ties. Third, splitting the sample by country income groups, the paper presents a more comprehensive representation of the cross-country variation in financial inclusion levels between high- and middle-income economies for this region.Financial inclusion: a new multi-dimensional index and determinants – evidence from the Union for the Mediterranean countries
Soumaya Ben Khelifa, Dorra Hmaied, Olfa Ben Ouda, Rym Ayadi, Rania Makni
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper proposes a new multi-dimensional financial inclusion index.

The authors employ two-stage principal component analysis (PCA) and aggregating indicators of availability, access and use. The paper first assesses the cross-country variations in the index and analyses trends over time for a sample of countries members of the Union for the Mediterranean (UfM) from 2010–2018. Second, it investigates factors that could explain the level of financial inclusion across countries.

The financial inclusion index shows a downward trend for the full sample over the period under investigation; however when splitting the sample by income group, it appears that high- and middle–income countries did not register the same trend. When examining the determinants of financial inclusion for the UfM countries, the authors find that macroeconomic, social and governance factors, as well as banking conditions, matter. Policy-makers in low- and middle-income economies should consider the importance of digital financial inclusion, which is substituting the role to traditional banking system, to close the gap and accelerate its development.

First, the authors provide a new measure of financial inclusion using a three-dimensional index: availability, access and use, for which weights are assigned using PCA. It uses data available for the UfM sample by combining data from different databases in order to include most indicators considered in the literature, as the majority of studies only use single measures (number of bank branches, ownership of a bank account, ratio of credits or deposits to gross domestic product [GDP], etc.). Second, by focussing on UfM countries, the study covers a region that includes both large developed and small developing economies that are connected via financial and trade ties, whilst previous studies generally give global evidence from an international sample with little or no economic ties. Third, splitting the sample by country income groups, the paper presents a more comprehensive representation of the cross-country variation in financial inclusion levels between high- and middle-income economies for this region.

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Financial inclusion: a new multi-dimensional index and determinants – evidence from the Union for the Mediterranean countries10.1108/JEAS-12-2021-0266Journal of Economic and Administrative Sciences2022-12-13© 2022 Emerald Publishing LimitedSoumaya Ben KhelifaDorra HmaiedOlfa Ben OudaRym AyadiRania MakniJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-12-1310.1108/JEAS-12-2021-0266https://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2021-0266/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Water Poverty Index and its changing trend in Indiahttps://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2021-0268/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this paper is to provide a picture of the water situation of the states of India and to identify key areas in which intervention is necessary for sustainable development and poverty elevation. To understand the trend and situation of water across the states, Water Poverty Index (WPI) has been constructed. WPI has been computed for the years 2012 and 2018 to get a picture of temporal change happening in the region. Further, descriptive statistics were used to show the required changes. Jharkhand and Rajasthan continue to be the worst performer in both time periods. Water poverty was the least in the states of Goa and Chandigarh for both time periods. Although owing to improvement in access and capacity component, the water status of India as a whole improved from 2012 to 2018 but few states have witnessed a decline in their water situation mainly due to deterioration in the environment and resource components. This paper adds to the relatively scarce literature on the water situation conducted for the states of India. The findings of the paper provide insights into the lacking areas responsible for the deterioration in water poverty status. The results can be utilized for framing proper policies to combat the water woes of the country.Water Poverty Index and its changing trend in India
Suchitra Pandey, Geetilaxmi Mohapatra, Rahul Arora
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this paper is to provide a picture of the water situation of the states of India and to identify key areas in which intervention is necessary for sustainable development and poverty elevation.

To understand the trend and situation of water across the states, Water Poverty Index (WPI) has been constructed. WPI has been computed for the years 2012 and 2018 to get a picture of temporal change happening in the region. Further, descriptive statistics were used to show the required changes.

Jharkhand and Rajasthan continue to be the worst performer in both time periods. Water poverty was the least in the states of Goa and Chandigarh for both time periods. Although owing to improvement in access and capacity component, the water status of India as a whole improved from 2012 to 2018 but few states have witnessed a decline in their water situation mainly due to deterioration in the environment and resource components.

This paper adds to the relatively scarce literature on the water situation conducted for the states of India. The findings of the paper provide insights into the lacking areas responsible for the deterioration in water poverty status. The results can be utilized for framing proper policies to combat the water woes of the country.

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Water Poverty Index and its changing trend in India10.1108/JEAS-12-2021-0268Journal of Economic and Administrative Sciences2022-04-13© 2022 Emerald Publishing LimitedSuchitra PandeyGeetilaxmi MohapatraRahul AroraJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-04-1310.1108/JEAS-12-2021-0268https://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2021-0268/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2022 Emerald Publishing Limited
Examining the impact of India–USA free trade agreement on agriculture sector: an partial equilibrium analysishttps://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2021-0272/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of the paper is to explore the economic repercussions of potential India–USA free trade agreement (FTA) on the trade of agricultural commodities at HS 2-digit level. The analysis is undertaken by assuming tariff reduction in a phased manner using the World Integrated Trade Solutions (WITS)-SMART partial equilibrium model to identify the trade creation and trade diversion effects. Overall results show that both the trading partners gain from the proposed FTA. Trade creation dominates over trade diversion in India's analysis. An FTA between India and the USA could be an essential step toward more liberal trade regimes and provide enormous economic benefits to both countries. Government of both the countries should support deeper integration. This will create more job opportunities and generate prosperity in both economies. There are numerous studies conducted on evaluating the impact of FTAs ratified between countries. But there are limited studies which evaluate the impact of the proposed India–USA FTA on the economies of both trading partners specifically on the agriculture sector.Examining the impact of India–USA free trade agreement on agriculture sector: an partial equilibrium analysis
Neha Jain, Sandeep Kumar
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of the paper is to explore the economic repercussions of potential India–USA free trade agreement (FTA) on the trade of agricultural commodities at HS 2-digit level.

The analysis is undertaken by assuming tariff reduction in a phased manner using the World Integrated Trade Solutions (WITS)-SMART partial equilibrium model to identify the trade creation and trade diversion effects.

Overall results show that both the trading partners gain from the proposed FTA. Trade creation dominates over trade diversion in India's analysis.

An FTA between India and the USA could be an essential step toward more liberal trade regimes and provide enormous economic benefits to both countries. Government of both the countries should support deeper integration. This will create more job opportunities and generate prosperity in both economies.

There are numerous studies conducted on evaluating the impact of FTAs ratified between countries. But there are limited studies which evaluate the impact of the proposed India–USA FTA on the economies of both trading partners specifically on the agriculture sector.

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Examining the impact of India–USA free trade agreement on agriculture sector: an partial equilibrium analysis10.1108/JEAS-12-2021-0272Journal of Economic and Administrative Sciences2022-06-21© 2021 Emerald Publishing LimitedNeha JainSandeep KumarJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2022-06-2110.1108/JEAS-12-2021-0272https://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2021-0272/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2021 Emerald Publishing Limited
Risk management implementation and its efficacy towards green innovation: a conceptual framework for Malaysian solar photovoltaic industryhttps://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2022-0260/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to propose a conceptual framework to examine the impact of risk management implementation on green innovation in the Malaysian solar photovoltaic (PV) manufacturing industry. The study is based on primary data to be collected from 30 Malaysian solar PV manufacturing companies through a questionnaire that incorporates the five-point Likert scale. The exploratory factor analysis (EFA) is proposed to be performed using SPSS 24.0 and confirmatory factor analysis (CFA) is suggested to be conducted using AMOS.21 software to explore the factors and reliability of the items and to confirm the factorial structure of risk management implementation and green innovation. Furthermore, partial least square-structural equation modeling (PLS-SEM) is proposed to investigate relationships between constructs and latent variables. The proposed framework is based on the stakeholder's theory and suggests that the comprehensive implementation of risk management has a significant and positive impact on green innovation in the Malaysian solar PV manufacturing industry. This study provides insight into formulating strategies for enhancing green innovation in the solar PV manufacturing sector and serves as a valuable resource for stakeholders. The significance of the proposed conceptual framework lies in its ability to enhance the workability of the stakeholder's theory and to create value for stakeholders through the implementation of risk management to drive green innovation. This study adds to the existing literature by exploring the relationship between risk management and green innovation in the solar PV manufacturing industry.Risk management implementation and its efficacy towards green innovation: a conceptual framework for Malaysian solar photovoltaic industry
Bilal Mukhtar, Muhammad Kashif Shad, Lai Fong Woon, Salaheldin Hamad
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to propose a conceptual framework to examine the impact of risk management implementation on green innovation in the Malaysian solar photovoltaic (PV) manufacturing industry.

The study is based on primary data to be collected from 30 Malaysian solar PV manufacturing companies through a questionnaire that incorporates the five-point Likert scale. The exploratory factor analysis (EFA) is proposed to be performed using SPSS 24.0 and confirmatory factor analysis (CFA) is suggested to be conducted using AMOS.21 software to explore the factors and reliability of the items and to confirm the factorial structure of risk management implementation and green innovation. Furthermore, partial least square-structural equation modeling (PLS-SEM) is proposed to investigate relationships between constructs and latent variables.

The proposed framework is based on the stakeholder's theory and suggests that the comprehensive implementation of risk management has a significant and positive impact on green innovation in the Malaysian solar PV manufacturing industry.

This study provides insight into formulating strategies for enhancing green innovation in the solar PV manufacturing sector and serves as a valuable resource for stakeholders.

The significance of the proposed conceptual framework lies in its ability to enhance the workability of the stakeholder's theory and to create value for stakeholders through the implementation of risk management to drive green innovation. This study adds to the existing literature by exploring the relationship between risk management and green innovation in the solar PV manufacturing industry.

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Risk management implementation and its efficacy towards green innovation: a conceptual framework for Malaysian solar photovoltaic industry10.1108/JEAS-12-2022-0260Journal of Economic and Administrative Sciences2023-04-10© 2023 Emerald Publishing LimitedBilal MukhtarMuhammad Kashif ShadLai Fong WoonSalaheldin HamadJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-04-1010.1108/JEAS-12-2022-0260https://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2022-0260/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Does organisational politics moderates the relationship between organisational culture and employee efficiency?https://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2022-0264/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe study aims to examine the relationship between organisational culture and employee efficiency and how organisational politics strengthens or weakens that relationship in the public sector of Ghana due to the perceived inefficiency of public sector employees. The study employs cross-sectional survey design and quantitative approach to collect the data from public sector employees in Ghana. The analysis is done using descriptive statistics, correlation and hierarchical regression models. The results show that negative organisational politics is the predominant perceived politics in the Ghanaian public sector. Further, organisational culture and employee efficiency have significant positive association and organisational politics (positive and negative) significantly moderate the association. However, negative organisational politics depicts negative interaction effect, meaning that negative organisational politics affects the positive influence of organisational culture on employee efficiency. The findings imply that strategies such as formulation of organisational policy and strict enforcement of same to eradicate or minimise the practise of negative organisational politics, whilst positive organisational politics is encourages and awarded to induce employees to be efficient. This will enhance the overall effect of organisational culture on employee efficiency. The study contributes significantly to extant literature by providing empirical evidence that organisational politics (positive and negative) effectively strengthens the association between organisational culture and employee efficiency from a developing country perspective.Does organisational politics moderates the relationship between organisational culture and employee efficiency?
Fred Awaah
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

The study aims to examine the relationship between organisational culture and employee efficiency and how organisational politics strengthens or weakens that relationship in the public sector of Ghana due to the perceived inefficiency of public sector employees.

The study employs cross-sectional survey design and quantitative approach to collect the data from public sector employees in Ghana. The analysis is done using descriptive statistics, correlation and hierarchical regression models.

The results show that negative organisational politics is the predominant perceived politics in the Ghanaian public sector. Further, organisational culture and employee efficiency have significant positive association and organisational politics (positive and negative) significantly moderate the association. However, negative organisational politics depicts negative interaction effect, meaning that negative organisational politics affects the positive influence of organisational culture on employee efficiency.

The findings imply that strategies such as formulation of organisational policy and strict enforcement of same to eradicate or minimise the practise of negative organisational politics, whilst positive organisational politics is encourages and awarded to induce employees to be efficient. This will enhance the overall effect of organisational culture on employee efficiency.

The study contributes significantly to extant literature by providing empirical evidence that organisational politics (positive and negative) effectively strengthens the association between organisational culture and employee efficiency from a developing country perspective.

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Does organisational politics moderates the relationship between organisational culture and employee efficiency?10.1108/JEAS-12-2022-0264Journal of Economic and Administrative Sciences2023-06-20© 2023 Emerald Publishing LimitedFred AwaahJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-06-2010.1108/JEAS-12-2022-0264https://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2022-0264/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Institutional imbalance moderating the linkage between GVC participation and economic growth: empirical evidencehttps://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2022-0271/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestParticipation in global value chains (GVCs) is increasingly related to the economic growth of any country. The conceivable beneficial impact of GVCs on economic growth differs across countries and could be modified with the countries' domestic institutional arrangements. However, ignoring the complementarity between the components of institutional quality led to ignorance of the institutional imbalance present in the country. Hence, the primary purpose of this study is to examine the role of institutional imbalance as a moderating variable between GVC participation and economic growth from 2000 to 2018. To address the issue of endogeneity among the variables in the model, the study employs the generalized methods of moments (GMM) as an econometric analysis method. The study finds that well-functioning domestic institutions facilitate the positive impact of GVC participation on economic growth. Conversely, an increased institutional imbalance harms the relationship between GVC participation and economic growth. These findings emphasize a balanced portfolio of institutional components. It advocates the holistic development of each component to reap greater benefits for GVC participation for any country. The study highlights that the weakness in one of the components must be addressed rather than substituted by increasing the strength of another component. The policies should be framed to improve the weakest component first, followed by other components of institutional quality. Simultaneous reforms involving all the dimensions of institutional quality would smoothen the path of transforming GVCs trade to the country's economic development. Additionally, the high institutional imbalance can provide a bird's eye view to policymakers to work on specific aspects of institutional quality more rigorously. The existing literature has used a combined measure of institutional quality as a mediator variable while measuring the impact of GVC participation on economic growth. While using a combined measure, it ignores the complementarity among its components. Assuming substitutability among various components may lead to an incorrect estimation. Using the arguments proposed by Bolen and Sobel (2020), the present study considers the existence of complementarity among various components of institutional quality. It calculates the institutional imbalance used as a moderating variable while estimating the impact of GVC participation on economic growth.Institutional imbalance moderating the linkage between GVC participation and economic growth: empirical evidence
Sharadendu Sharma, Rahul Arora
Journal of Economic and Administrative Sciences, Vol. ahead-of-print, No. ahead-of-print, pp.-

Participation in global value chains (GVCs) is increasingly related to the economic growth of any country. The conceivable beneficial impact of GVCs on economic growth differs across countries and could be modified with the countries' domestic institutional arrangements. However, ignoring the complementarity between the components of institutional quality led to ignorance of the institutional imbalance present in the country. Hence, the primary purpose of this study is to examine the role of institutional imbalance as a moderating variable between GVC participation and economic growth from 2000 to 2018.

To address the issue of endogeneity among the variables in the model, the study employs the generalized methods of moments (GMM) as an econometric analysis method.

The study finds that well-functioning domestic institutions facilitate the positive impact of GVC participation on economic growth. Conversely, an increased institutional imbalance harms the relationship between GVC participation and economic growth. These findings emphasize a balanced portfolio of institutional components. It advocates the holistic development of each component to reap greater benefits for GVC participation for any country. The study highlights that the weakness in one of the components must be addressed rather than substituted by increasing the strength of another component.

The policies should be framed to improve the weakest component first, followed by other components of institutional quality. Simultaneous reforms involving all the dimensions of institutional quality would smoothen the path of transforming GVCs trade to the country's economic development. Additionally, the high institutional imbalance can provide a bird's eye view to policymakers to work on specific aspects of institutional quality more rigorously.

The existing literature has used a combined measure of institutional quality as a mediator variable while measuring the impact of GVC participation on economic growth. While using a combined measure, it ignores the complementarity among its components. Assuming substitutability among various components may lead to an incorrect estimation. Using the arguments proposed by Bolen and Sobel (2020), the present study considers the existence of complementarity among various components of institutional quality. It calculates the institutional imbalance used as a moderating variable while estimating the impact of GVC participation on economic growth.

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Institutional imbalance moderating the linkage between GVC participation and economic growth: empirical evidence10.1108/JEAS-12-2022-0271Journal of Economic and Administrative Sciences2023-10-23© 2023 Emerald Publishing LimitedSharadendu SharmaRahul AroraJournal of Economic and Administrative Sciencesahead-of-printahead-of-print2023-10-2310.1108/JEAS-12-2022-0271https://www.emerald.com/insight/content/doi/10.1108/JEAS-12-2022-0271/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited