Search

Purpose: The aim of the paper is to examine the status and determinants of financial inclusion in India by using the recent micro-level survey data. Design/methodology/approach: The authors construct a multidimensional financial inclusion index to measure the status of financial inclusion in the selected 17 states of India. Subsequently, the authors use the probit model estimation to examine the determinants of all financial inclusion indicators. Findings: The authors find that southern and north-eastern states perform better in the overall financial inclusion index. In contrast, states like Odisha, Madhya Pradesh, Chhattisgarh, Rajasthan and Uttar Pradesh lag behind. The estimated result shows that the probability of being financially included is higher among urban, richer, educated and salaried individuals. Further, the findings indicate the lower penetration of bank branches and ATMs in the rural parts of the country. Originality/value: While numerous studies have explored financial inclusion from a macro-level perspective, there exists a notable gap in the literature at the micro-level. This paper aims to address this gap and contributes to the existing literature in two ways. Firstly, it uses the recent micro-level survey data to construct a multidimensional financial inclusion index for the selected Indian states. Secondly, it examines individual-level attributes as the determining factors of financial inclusion, which has been overlooked in India. Peer review: The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-03-2023-0162 [ABSTRACT FROM AUTHOR]

Purpose: The financial system plays an essential role in facilitating the intermediation process for economic growth. Policymakers stress on achieving a well-developed and regulated financial system to achieve economic development and resiliency. Using data from the State of Qatar, this paper aims to examine the impact of financial development indicator on economic growth; the impact of financial development indicator on hydrocarbon and nonhydrocarbon sector; the impact of Islamic banking on hydrocarbon and nonhydrocarbon economic growth. Design/methodology/approach: The research uses quarterly data from 2007 to 2019 and adopts autoregressive distributed lag cointegration techniques to test the long- and short-run dynamic relationship between various measures of financial development and economic growth. Findings: The results present evidence of long-term cointegration between overall financial development indicator and economic growth. Furthermore, the authors document the existence of long-term relationship between financial development and nonhydrocarbon sector. However, there is a lack of evidence on the long-run relationship between financial development and the hydrocarbon sector. Notwithstanding, Islamic banking contributes to overall economic development, as well as to the nonhydrocarbon sector. Practical implications: This paper offers policymakers with insights to evaluate measures to diversify the economy. It also assists decision-makers in promoting Islamic finance, particularly to the banking sector as a vital contributor to economic growth. Originality/value: To the best of the author's knowledge, this paper is the first to evaluate financial development and economic growth for the case of Qatar in light of recent developments in Islamic finance. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to gain insight into how management accountants can become relevant business partners out of respect for existing locally developed accounts of economic performance for decision-making. Design/methodology/approach: The paper is based on qualitative semi-structured interviews with local business actors, in this case, families from seven financially successful Danish dairy farms. The casework and the analysis have been informed by pragmatic constructivism. Findings: The local business actors do not use the official accounting system for ongoing cost-management-related decision-making. Instead, they use several epistemic methods that include locally developed decision models, experiences, rules of thumb and intuition. The farmers use these vernacular accountings to compensate for the cost management illusion that the formal accounting system tends to create. What the study suggests is that when management accountants engage as business partners, they are likely to enter a space where accounting is already present. Originality/value: This paper argues that local business actors practice epistemic methods where they develop and use vernacular accountings to support their managerial practice, also in the absence of a professional management accountant. These vernacular accountings may lead the local actors into an illusion because the vernacular accountings do not necessarily have an inherent economic logic and theoretical reliability. The role of the management accountant in such a setting is hence to understand, support and advance local epistemic methods. Becoming a business partner requires a combination of management accounting analytical skills and a sense of empathy and sensitivity regarding what is already at play and how this can become an object of discussion without violating the values of the other. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to estimate the effect the five different generations and the key financial inclusion indicators of gender, education and location (rural–urban) in exacerbating disparities in financial inclusion in Kenya. This paper considers whether the five generational cohort groups in Kenya differ on the financial inclusion determinants and behaviour as predicted by common generational stereotypes. Design/methodology/approach: The authors applied a multinomial logistic regression approach to nationally representative household survey data from Kenya to estimate the effect that key financial inclusion indicators have on belonging to one of the five generations: Z, Y, X, baby boomers and traditionalists. Findings: The authors found significant links between all tested variables and financial inclusion. The authors found an access gap between Generations X and Y, with the latter being more prone to access and use financial services and products. These differences are compounded by gender and rurality. People in rural locations and women generally were found to have less access to financial services and products, thus causing significant exclusion of a large proportion of the population. Practical implications: The research has important implications for governments, financial institutions and educational providers, notably on targeted policies and programmes that strategically aim to eliminate disparities and promote greater financial inclusion, denoting the value of such variables as generational differences and gender inclusivity. Originality/value: This paper deepens the understanding of differences that can divide generations on financial inclusion. [ABSTRACT FROM AUTHOR]

Purpose: The study aims to find out the impact of financial inclusion and financial development on financial stability using panel data from eight countries in the Middle East and North Africa (MENA). Design/methodology/approach: To achieve the aim of the study, the researcher prepared two indicators of financial inclusion and governance to find out the impact of financial development on the relationship between financial inclusion and financial stability. Data on financial inclusion was obtained from the International Monetary Fund, data on financial development and financial stability were obtained from the World Bank. Findings: The results of the fixed and random effect methods show that financial inclusion has a significant positive effect on financial stability. Additionally, financial development represents a moderating variable in the significant positive effect on the relationship between financial inclusion and stability in the MENA countries. Research limitations/implications: The current study suffers from some limitations that researchers must be aware of in future research. First, there is an inability to determine qualitative aspects such as time and cost when designing a composite indicator of financial inclusion. Second, due to limited data, we used only eight countries from the MENA. It is suggested to expand the sample to include other countries. Originality/value: This paper contributes to the related literature between financial inclusion and financial stability by confirming or denying the results of previous studies. Also, to the best of the author's knowledge, this paper is the only one that explains the role of financial development in the relationship between financial inclusion and stability in MENA countries, using a composite index to calculate financial inclusion. Finally, the study seeks to focus the attention of the government and policymakers to build a system of financial inclusion that leads to improving financial stability. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to make a systematic review of the manpower prediction model of the construction industry. It aims to determine the forecasting model's development trend, analyse the use limitations and applicable conditions of each forecasting model and then identify the impact indicators of the human resource forecasting model from an economic point of view. It is hoped that this study will provide insights into the selection of forecasting models for governments and groups that are dealing with human resource forecasts. Design/methodology/approach: The common search engine, Scopus, was used to retrieve construction manpower forecast-related articles for this review. Keywords such as "construction", "building", "labour", "manpower" were searched. Papers that not related to the manpower prediction model of the construction industry were excluded. A total of 27 articles were obtained and rated according to the publication time, author and organisation of the article. The prediction model used in the selected paper was analysed. Findings: The number of papers focussing on the prediction of manpower in the construction industry is on the rise. Hong Kong is the region with the largest number of published papers. Different methods have different requirements for the quality of historical data. Most forecasting methods are not suitable for sudden changes in the labour market. This paper also finds that the construction output is the economic indicator with the most significant influence on the forecasting model. Research limitations/implications: The research results discuss the problem that the prediction results are not accurate due to the sudden change of data in the current prediction model. Besides, the study results take stock of the published literature and can provide an overall understanding of the forecasting methods of human resources in the construction industry. Practical implications: Through this study, decision-makers can choose a reasonable prediction model according to their situation. Decision-makers can make clear plans for future construction projects specifically when there are changes in the labour market caused by emergencies. Also, this study can help decision-makers understand the current research trend of human resources forecasting models. Originality/value: Although the human resource prediction model's effectiveness in the construction industry is affected by the dynamic change of data, the research results show that it is expected to solve the problem using artificial intelligence. No one has researched this area, and it is expected to become the focus of research in the future. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this article is to discuss the theme of managing operations and supply chains in the so-called "new normal". It reflects the themes emerging from recent research and how these might be conceptualized. Design/methodology/approach: The article reviews research presented at the EurOMA 2021 conference and eight papers subsequently developed into full journal papers. It considers conceptual themes contained in these papers and how they reflect recent turbulent events in the external business environment. Findings: The article notes the themes of resilience in relation to the Covid-19 pandemic, environmental sustainability, especially climate change and the Sustainable Development Goals, and the significance of digital technologies. Additional themes relating to inter-organizational relationships, complexity and manager cognition are also considered. In order to provide useful insights for future disruptions, general concepts on epistemology and responsiveness are described. Originality/value: The article discusses general principles across cutting-edge research in operations and supply chain management, to support improved performance to add economic and social value. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to investigate the impact of climate change news on the dynamics of US stock indices. Design/methodology/approach: The empirical basis of the study was 3,209 news articles. Sentiment analysis was performed by a pre-trained bidirectional FinBERT neural network. Thematic modeling is based on the neural network, BERTopic. Findings: The results show that news sentiment can influence the dynamics of stock indices. In addition, five main news topics (finance and politics natural disasters and consequences industrial sector and Innovations activism and culture coronavirus pandemic) were identified, which showed a significant impact on the financial market. Originality/value: First, we extend the theoretical concepts. This study applies signaling theory and overreaction theory to the US stock market in the context of climate change. Second, in addition to the news sentiment, the impact of major news topics on US stock market returns is examined. Third, we examine the impact of sentimental and thematic news variables on US stock market indicators of economic sectors. Previous works reveal the impact of climate change news on specific sectors of the economy. This paper includes stock indices of the economic sectors most related to the topic of climate change. Fourth, the research methodology consists of modern algorithms. An advanced textual analysis method for sentiment classification is applied: a pre-trained bidirectional FinBERT neural network. Modern thematic modeling is carried out using a model based on the neural network, BERTopic. The most extensive topics are "finance and politics of climate change" and "natural disasters and consequences." [ABSTRACT FROM AUTHOR]

Purpose: The paper analyzes the relative technical efficiency of the transition economies of the Western Balkans in the period 2007–2021, in comparison with the former countries with a socialist state system, today members of the European Union (EU), based on selected macroeconomic indicators and panel data. Design/methodology/approach: Data envelopment analysis (DEA), i.e. its extension, DEA Window analysis, is applied. Total technical efficiency, as a prerequisite of economic efficiency, is decomposed into pure technical efficiency (PTE) and scale efficiency (SE). Bootstrapping method and Mann–Whitney U test were used to check the robustness of the obtained results, i.e. efficiency values. Findings: The results show that in 2020, all observed countries recorded a significant drop in economic efficiency as a result of a general, disproportionate drop in the value of selected macroeconomic variables, which occurred due to the global economic crisis and the slowdown in economic activity caused by the COVID-19 pandemic. This drop in efficiency was significantly greater in the former socialist states, now members of the European Union, which showed their greater sensitivity to global crises. None of the observed economies in the observed period was relatively efficient, that is, at the level of best practice, which occurred primarily as a consequence of the inefficiency of business conditions expressed in the economies of scale. Research limitations/implications: The main limitation of this study stems from the very nature of the concept of DEA efficiency, which is relative in nature. Also, the results and their interpretation are also significantly influenced by the choice of model variables, as shown by Lábaj et al. (2013), as well as a small number of decision-making units (DMUs). The mentioned limitations prevent unambiguous interpretation and generalization of the obtained results. Practical implications: The study may be of importance to economic policy makers in macroeconomic decision-making. The application of the DEA concept in measuring the technical efficiency of national economies is a useful tool in the analysis of macroeconomic performance and a benchmarking approach for positioning and achieving competitive advantage on the international market. Originality/value: Since research of this type is very limited, the results of this study make a theoretical and empirical contribution to the literature, creating a basis for future research and reexamination. The application of the DEA concept in measuring the technical efficiency of national economies is a useful tool in the analysis of macroeconomic performance and a benchmarking approach for positioning and achieving competitive advantage in the international market. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to provide further insights into the connection between corporate social responsibility (CSR) and companies' credit ratings, while also exploring the role of corporate governance as a moderating factor. The hypotheses for this relationship are rooted in both legitimacy and stakeholder theories. Design/methodology/approach: Using a sample of French non-financial listed firms from 2007 to 2020, this paper uses the ordered probit model introduced by Greene (2000). The issue of endogeneity has also been addressed. Findings: The study reveals that CSR practices positively impact companies' credit ratings by enhancing solvency and financial performance. Specifically, firms that prioritize CSR, particularly in the social and environmental dimensions (such as community relations, diversity, employee relations, environmental performance and product characteristics), tend to have higher credit ratings and a reduced risk of default. This suggests that credit rating agencies likely incorporate CSR performance when assigning credit ratings. Furthermore, the quality of corporate governance acts as a moderator, strengthening the relationship between CSR and credit ratings. The findings remain robust even after accounting for key firm attributes and addressing potential endogeneity between CSR and credit ratings. Practical implications: This research provides valuable guidance for policymakers, corporate managers, investors and other stakeholders, as it offers insights into the influence of CSR activities on risk premiums and financing costs. For financial institutions, expanding credit decisions to encompass non-financial factors such as CSR can result in more accurate predictions of firm credit quality compared to relying solely on financial indicators. Originality/value: To the best of the authors' knowledge, this study stands out as the first to systematically examine the relationship between CSR and credit ratings within the French context. Moreover, it distinguishes itself by investigating the moderating influence of corporate governance on this relationship, setting it apart from prior research. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to explore the high-quality development (HQD) strategy of Chinese mineral resource enterprises, which is important for Chinese mineral resource enterprises to improve the efficiency and benefit of resource utilization, reduce the intensity of resource and energy consumption and gradually form resource-saving and environment-friendly enterprises. Design/methodology/approach: This study establishes an evaluation index system with four dimensions: economy, environment, society and management innovation. The entropy value method assigns weights to them and then uses the system dynamics (SD) model for case simulation. Findings: The results of the SD simulation conclude that the fulfillment of social responsibility and the implementation of management innovation can accelerate the realization of HQD of mineral resource enterprises; profitability plays a crucial role in economic indicators; the improvement of energy-saving volume has the most significant impact on environmental benefits; the social contribution is the key element to measure social indicators; and the sales rate of core products has the most significant impact on the benefits of management innovation. Originality/value: Based on the few studies on the evaluation of the development strategy of mineral resource enterprises, this study establishes an evaluation index system that considers the interactions between indicators, combines the entropy value method with SD and uses the SD model to comprehensively and systematically analyze the impact and degree of each factor on the HQD of mineral resource enterprises. [ABSTRACT FROM AUTHOR]

Purpose: E-commerce companies use different types of dark patterns to manipulate choices and earn higher revenues. This study aims to evaluate and prioritize dark patterns used by e-commerce companies to determine which dark patterns are the most profitable and risky. Design/methodology/approach: The analytic hierarchy process (AHP) prioritizes the observed categories of dark patterns based on the literature. Several corporate and academic specialists were consulted to create a comparison matrix to assess the elements of the detected dark pattern types. Findings: Economic indicators are the most significant aspect of every business. Consequently, many companies use manipulative methods such as dark patterns to boost their revenue. The study revealed that the revenue generated by the types of dark patterns varies greatly. It was found that exigency, social proof, forced action and sneaking generate the highest revenues, whereas obstruction and misdirection create only marginal revenues for an e-commerce company. Research limitations/implications: The limitation of the AHP study is that the rating scale used in the analysis is conceptual. Consequentially, pairwise comparisons may induce bias in the results. Practical implications: This paper suggests methodical and operational techniques to choose the priority of dark patterns to drive profits with minimum tradeoffs. The dark pattern ranking technique might be carried out by companies once a year to understand the implications of any new dark patterns used. Originality/value: The advantages of understanding the trade-offs of implementing dark patterns are massive. E-commerce companies can optimize their spent time and resources by implementing the most beneficial dark patterns and avoiding the ones that drive marginal profits and annoy consumers. [ABSTRACT FROM AUTHOR]

Purpose: By 2040, 14.5% of Malaysia's population will consist of those aged 65 years and above. The purpose of this paper is to examine the time-varying impact of an ageing population on the economy of Malaysia. Design/methodology/approach: The relationship between the ageing population and economic performance was examined from the period 1971–2019. The time-varying rolling convergence estimation of 40 + k observations sample frame of the trace statistics was analysed. Findings: The ageing population had affected the economic activities in Malaysia over all sampling time frame from 1971 to 2010, 1972–2011, ...to 1980–2019. The growth in total population and economic activities also caused a significant increase in the ageing population in the long run. An improved economic performance signifies the affordability for better healthcare services and improvement in medical science technology to treat diseases. Originality/value: Its ageing population has gradually slow down economic activities in Malaysia. Now is the time to be prepared and address an ageing workforce issues such as productivity, retirement policy, savings behaviour and life-long learning capabilities. Peer review: The peer review history for this article is available at https://publons.com/publon/10.1108/IJSE-04-2021-0234. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to determine the extent to which institutional pressures affect supplier and customer collaboration and how collaboration explains green supply chain performance using institutional and stakeholder theories. Design/methodology/approach: The paper builds on empirical evidence gathered from responses of Iranian industrial managers based on a self-administered survey. The hypotheses in the conceptual model are tested using Smart-PLS (partial least square). Findings: The results provide evidence that regulatory requirements and internal motivators, as institutional pressure, enable customer and supplier collaboration. Furthermore, customer collaboration has a positive effect on supplier collaboration and, consequently, positively affects environmental and economic performance. But supplier collaboration is just positively affecting environmental performances and is not effective on economic performance. Research limitations/implications: The subject is that the study is a questionnaire-based survey, and the validity and reliability of the results are influenced by the respondents' idiosyncrasies. This study provides a comprehensive model of drivers, supply chain collaboration and performance in the context of the industry sector. The study contributes by providing empirical data with a focus on customer and supplier collaboration and their interrelationship in GSCM modelling. Originality/value: The current paper is one of the new field of research which demonstrate the significance of customer and supplier collaboration with each other to attain green performance. It also contributes to show the effect of institutional pressure on the customer-supplier collaboration that fosters green performance in the supply chain. [ABSTRACT FROM AUTHOR]

Purpose: Large or increasing stocks of non-performing loans in the banking sector constitute threats to financial stability. This paper considers to which extent various macroeconomic and macro-financial factors may serve as leading indicators for the dynamics of the ratio of non-performing loans to total loans. Design/methodology/approach: The paper estimates panel data models for all EU countries and two groups of EU countries using quarterly data over approximately 20 years. Findings: The estimations show that many macroeconomic and macro-financial variables are leading indicators for non-performing loans in the EU countries, even years ahead. Higher GDP growth, lower inflation and lower debt are robust leading indicators of a lower ratio of non-performing loans in the future. The current account balance and real house prices are important indicators for the Western European group but not for the Central and Eastern European group. Research limitations/implications: The estimations are carried out for panels of EU countries and the effects may hence be seen as averages for the countries in the particular panel and may not apply for individual countries. Practical implications: National and international authorities have brought in systems to detect and address imbalances and emerging problems in the financial sectors. Many of the measures operate with long lags, and so it is important to assess whether various macroeconomic and macro-financial variables may serve as leading indicators for future developments of non-performing loans. Originality/value: The main contribution of the paper is that it estimates models meant expressly for predicting non-performing loans several years ahead. The results are thus of practical use for national and international authorities which typically have access to measures that operate with a long delay. The analysis also includes more macroeconomic and macro-financial variables as leading indicators than have typically been used in earlier studies. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to introduce a new scale designed to assess a firm's green orientation from the consumer's perspective. Its effects are tested on a managerially relevant outcome variable and an objectively measured product-performance indicator. Design/methodology/approach: Four studies based on various data sources identify and operationalize a green-oriented firm. Leveraging signaling theory, a model tests the orientation's impact on two outcome variables, behavioral intentions and revenue, demonstrating its relevance to both scholars and practitioners. Findings: Previous research has explored consumers' reactions to green products, announcements and initiatives in a piecemeal fashion. This study suggests that firms are perceived as green-oriented when they operate in an environmentally friendly manner, develop green products and publicize these accomplishments. Consequently, consumers' identification of a firm as green-oriented affected their behavioral intentions, which positively influenced firms' revenues. Research limitations/implications: Green-oriented firms must incorporate environmental standards into production efforts and confidently trumpet such behaviors if they wish to profit from consumer perceptions. Practical implications: To accrue positive behavioral intentions from consumers and to increase the firm's revenues, marketers should invest in developing green-oriented products, operating in an environmentally friendly manner and publicizing these efforts. Understanding consumer perceptions is critical, as they are a leading indicator of firm performance. Originality/value: This novel operationalization of a green orientation captures consumers' perceptions, demonstrating that firms can significantly benefit from this consumer-aligned strategy. [ABSTRACT FROM AUTHOR]

Purpose: Nowadays, a prominent research area is the development of competitive advantages in companies, due to their environmental commitment and orientation. Based on resource-based view (RBV) and institutional theory (InT), this paper aims to investigate the influence of internal and external orientation on businesses' sustainable performance while considering the effect of sustainable supply chain management (SSCM) practices. Design/methodology/approach: Data from 351 manufacturing companies in the Kingdom of Saudi Arabia have been collected and analysed through structural equation modelling (SEM) using the partial least squares (PLS) method. Findings: The results indicated that both internal and external environmental orientation have important effects on SSCM practices, which in turn have a considerable beneficial effect on environmental, social and economic performance. Originality/value: Although SSCM is constantly gaining ground in the literature, most SSCM research and models examine its effects, antecedents or motivation, mainly adopting a qualitative approach. Research on the topic adopting a large-scale empirical approach is still limited. In this context, this study contributes to the SSCM management literature by exploring the role of environmental orientation in facilitating the adoption of SSCM practices and improving companies' performance. [ABSTRACT FROM AUTHOR]

Purpose: This paper provides a new empirical evidence of the impact of Global security on economic growth in Tunisia. Like Buzan (1991), the framework used four types of security: army security, economic security, social security, and political security. Design/methodology/approach: The authors examine the multidimensionality of global security using ARDL-based cointegration bound tests. The model allows also for examining the long-run/short-run impacts of global security indicators on economic growth. Findings: The proposed methodology revealed interesting results that may raise some potentially prominent policy implications. First, the findings show that the four security indicators have a significant impact on economic growth. In particular, from a social/political security point of view, the fundamental objective is to satisfy the needs of the poorest population, to limit the effect of social demands and protests on economic and political stability, to review the subsidy principle and aid policy to the poorest families, for greater efficiency and social equity. Originality/value: The study highlights that global security is no longer a question of just army and defense, but it is also a question of equity, economic, social, and political development. These results call for the policymaker to adopt a strategy that reduces regional disparities and social inequalities and this through fairly distributing financial wealth for the benefit of marginalized populations. Peer review: The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-02-2023-0082 [ABSTRACT FROM AUTHOR]

Purpose: The purpose of the article is to show the changing behavior of investors in the post-pandemic period, the continued development of "emotional communities" in the financial market, as well as the factors contributing to their formation and the role of such communities in the elaboration of investors' decisions. Design/methodology/approach: The research includes an analysis of the popularity of various terms searched in the US segment of Google in the financial category from 2004 to 2022, their correlation with financial market indicators and theoretical observations around these data. Findings: The results obtained by the author allow him to draw the following conclusions: (1) the change in investors' behavior indicates the formation of the new distributed community-centric model of the financial market; (2) the main distinguishing feature of the behavior of many retail investors is gamification; (3) the networking of investors contributes to a significant change in their priorities in the elaboration of investment decisions; (4) the fundamental indicators of the financial market play an ever decreasing role in the decision-making of individual investors. Originality/value: To the best of the author's knowledge, the formation of emotional communities of investors and their role in the elaboration of mass investor decisions is not widely covered in the literature. The paper develops a framework for further studies on the role of emotional communities in the financial market and in changing behavior of retail investors. [ABSTRACT FROM AUTHOR]

Copyright of European Journal of Management & Business Economics is the property of Emerald Publishing Limited and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Purpose: The purpose of this paper is to identify the indicators of currency crises in Egypt. Using the annual data over the period 1977–2017, the paper attempts to establish which economic variable(s) are more useful in predicting currency crises and to improve the predictability of such crises. Design/methodology/approach: Probit analysis is employed to identify the indicators that are most effective in predicting the probability that a currency crisis episode will occur. This is enabled through the estimation of a market turbulence index (MTI) which measures currency crises in terms of eight "threshold" points at which a crisis is detected or not detected. Findings: The estimates of the probit model suggest that five variables: the domestic interest rate spread; domestic current account; USA interest rate; real exchange rate; and the real interest rate have the strongest predictive power among the 16 indicators identified in the empirical literature. Research limitations/implications: There are a number of limitations associated with this paper. First the data are annual and not monthly which limits the ability of the estimated model to accurately predict the crisis episodes. There is limited open access to monthly data on the Central Bank of Egypt website especially for the period before the 2000s. Were such data available this would allow for much more robust in-sample and out of sample forecasts. Practical implications: The analysis and results in the paper suggest that the modelling strategy employed represents a potentially useful tool for Central Banks and policy makers in forecasting currency crises. Social implications: There are several such implications but mainly in relation to the possibility of avoiding high social costs resulting from a currency crisis that may have been avoided if forecast correctly. Originality/value: The paper builds on previous theoretical and empirical work in this field while adding to the literature in terms of the problems in previous literature and modelling approaches. It also strongly advocates the use of the MTI instead of other indices to identify such crises. [ABSTRACT FROM AUTHOR]

Purpose: This paper investigates the economic performances of two business-to-consumer (B2C) e-commerce last-mile delivery options –parcel lockers (PLs) and traditional home delivery (HD) in contexts where e-commerce is still at its early stages. It analyses and compares two different implementation contexts, urban and rural areas. Design/methodology/approach: This study develops an analytical model that estimates delivery costs for both the PL and HD options. The model is applied to two base cases (representative of urban and rural areas in Italy), and sensitivity analyses are subsequently performed on a set of key variables/parameters (i.e. PL density, PL fill rate and PL annual costs). To support the model development and application, interviews with practitioners (Edwards et al., 2011) were performed. Findings: PLs imply lower delivery cost than HD, independently from the implementation area (urban or rural): advantages mainly derive from the higher delivery density and the drastic reduction of failed deliveries. Benefits entailed by PLs are more significant in rural areas due to lower PL investments and annual costs, as well as higher HD costs. Originality/value: This paper offers insights to both academics and practitioners. On the academic side, it develops a model to compare the delivery cost of PL and HD, which includes the analysis of urban and rural contexts. This could serve as a platform for developing/informing future analytical/optimisation contributions. On the managerial side, it may support practitioners in making decisions about the implementation of PLs and HD, to benchmark their costs and to identify the main variables and parameters at play. [ABSTRACT FROM AUTHOR]

Purpose: The Green Revolution transformed agriculture in the Indian State of Punjab, with positive spillovers to the rest of India, but recently the state's economy has fallen dramatically in rankings of per capita state output. Understanding the trajectory of Punjab's economy has important lessons for all of India. Economic development is typically associated with changes in economic structure, but Punjab has remained relatively reliant on agriculture rather than shifting economic activity to manufacturing and services, where productivity growth might be greater. Design/methodology/approach: The authors empirically examine structural change in the Punjab economy in the context of structural change and economic growth across the States of India. The authors calculate structural change indices and map their pattern over time. The authors estimate panel regressions and time-varying parameter regressions, as well as performing productivity change decompositions into within-sector and structural changes. Findings: Panel regressions and time-varying-coefficient regressions suggest a significant positive influence of structural change on state-level growth. In addition, growth positively affected structural change across India's states. The relative lack of structural change in Punjab's economy is implicated in its relatively poor recent growth performance. Comparisons with a handful of other states reinforce this conclusion: Punjab's lack of economic diversification is a plausible explanation for its lagging economic performance. Originality/value: This paper performs a novel empirical analysis of structural change and growth, simultaneously using three different approaches: panel regressions, time-varying parameter regressions and productivity decompositions. To the best of the authors' knowledge, it is the only paper we are aware of that combines these three approaches. [ABSTRACT FROM AUTHOR]

Purpose: Based on the extended resource-based view (ERBV), this paper aims to investigate the relationship between sustainable supply chain management (SSCM), dynamic capabilities (DCs) and enterprise economic performance (EEP). Both the direct effects of SSCM on economic performance and the mediation effect of DCs are investigated. This empirical study also examines the moderating role of firm size. Design/methodology/approach: This study applies hierarchical regression analyses to test our hypotheses, and then the mediation test was performed using the macro PROCESS. Data were collected from 178 Chinese manufacturing firms. Findings: The findings show that SSCM practices significantly and positively influence both economic performance and DCs. The results indicate that DCs partially mediate the relationship between SSCM practices and EEP. Moreover, firm size has a moderating effect on external SSCM practices that influence EEP, but the moderating effect was not found to be significant for the effects of internal SSCM practices on economic performance and SSCM practices on DCs. Practical implications: This study reveals insights into the potential benefits for large enterprises and SMEs related to the utilization of SSCM practices in China and puts forward differentiated suggestions for SSCM practices in large enterprises and SMEs. Originality/value: Drawing on the ERBV, this study provides a deeper perspective on the relationship between SSCM and EEP by regarding DCs as a mediating variable and firm size as a moderating variable. [ABSTRACT FROM AUTHOR]

Purpose: This paper evaluates the importance of both liquidity and solvency risk factors on variations in efficiency measures of US commercial and domestic banks from 2005 to 2017. Design/methodology/approach: The analysis is conducted using the true random effect stochastic cost model to examine the role of both liquidity and solvency risk factors. To this end, the author uses the exponential stochastic cost function and adds new variables, including bank size, crisis as an indicator of the financial crisis and the Dodd–Frank Act and Basel II Accord as regulatory dummies. Findings: The results show that both liquidity and solvency risk factors positively affect the variance of cost inefficiency measures and thus have negative impact on the cost efficiency measures. In addition, banks increased the cost of financial intermediation during the financial crisis, whereas regulatory factors of Basel II Accord and Dodd–Frank Act play a crucial role in explaining the cost efficiency measures. Originality/value: These results are the first to quantify the impact of both liquidity and solvency on the variations in cost efficiency measures. [ABSTRACT FROM AUTHOR]

Purpose: Financial inclusion is an approach for mobilizing saving and facilitating investments that help promote economic development and pave the way for sustainable development. This paper aims to examine the impact of world governance indicators (WGIs) on the improvement of financial inclusion across world economies. Design/methodology/approach: This paper uses the global database of financial inclusion indicators (global findex) for the years 2011, 2014 and 2017. The WGIs are used as proxies for the effects of governmental institutional arrangements. Using panel data analysis, a fixed generalized linear model is estimated for four common financial indicators; namely, borrowed from a financial institution, saved at a financial institution, credit card and debit card ownership. Findings: The empirical results reveal that control of corruption, government effectiveness, political stability and voice and accountability are the significant WGIs that influence financial inclusion significantly. Originality/value: This paper contributes to the literature in two ways. First, this paper offers validating the results previously reported in related studies. Second, this paper offers robust estimates of the effects of the institutional WGIs on the promotion of financial inclusion. [ABSTRACT FROM AUTHOR]

Purpose: The quality of exports is an important indicator of the economic development of a country. It is, therefore, important to understand its determinants. Existing literature reveals a number of determinants such as the position of a country, the distance to the trading partner, the size of the firm and the productivity or the quality of inputs. In this study, the author proposes a new determinant, namely ethnic diversity. Design/methodology/approach: In the first stage of this research, the author estimates the quality of exports following Berry (1994) approach. The author also addresses the endogeneity problem as suggested by Khandelwal (2010). The author's measure of ethnic diversity follows Easterly and Levine (1997). In the second stage, the author regresses the estimated quality on the measure of ethnic diversity, interacted by the degree of differentiation of the goods. Findings: First, the author finds that ethnic diversity in general reduces the quality of exports. Second, the author finds that the impact varies with the degree of differentiation. In particular, while ethnic diversity decreases the quality of differentiated goods, it increases the quality of homogeneous goods. Research limitations/implications: Because of data limitations, the research cannot investigate the impact of migration. Practical implications: The findings of this paper show how one can improve the quality of products based on the characteristics of the population and of the products. Originality/value: In the last decade, there has been growing attention paid to the impact of ethnic diversity on economic performance. As industrial powerhouses such as China continue to urbanize, stitching together once-disparate ethnic groups, the role ethnic diversity plays in the economic life of a country must be examined from a variety of angles. This paper is the first to investigate the specific impact of that diversity on product quality and on how diversity interacts with the characteristics of products. [ABSTRACT FROM AUTHOR]

Purpose: Innovation is the backbone of sustainability. Although many efforts have been made to conceptualize sustainability-oriented innovations, the impact of these organizational practices on performance has not been adequately explored. This paper, therefore, aims to fill an important gap in the literature by exploring the relationship between sustainability innovation practices and performance outcomes. Specifically, this study examines the relationship between sustainability innovation practices, non-financial performance and economic performance. Design/methodology/approach: This paper uses partial least squares path modeling (PLS-PM) to estimate both the direct and indirect effects of sustainability practices on economic performance. The data were collected on the basis of a large-scale survey of 266 European organizations. Findings: The results show that sustainability innovation practices directly and indirectly influence economic performance through non-financial performance outcomes (i.e. innovation performance, environmental performance and social performance). Originality/value: The scientific value of this paper is provided by showing that sustainability innovation practices lead to certain performance improvements and by providing a model to better understand the links between non-financial performance outcomes and economic performance. [ABSTRACT FROM AUTHOR]

Purpose: This study empirically investigates the significance of the core competencies on various economic performance indices by utilizing accounting and market-based performance in Chinese and South Korean leading manufacturing companies. Design/methodology/approach: This research employs a series of hierarchical regression models to test the hypotheses concerning the significance of R&D and export strategy on firms' performance. Findings: This study finds that R&D intensity and foreign trade activities through export are most likely to be significantly associated with firm performance, particularly market-based performance, across the Chinese and South Korea manufacturing companies. The significance of other core strategic factors such as capital intensity, leverage, inventory turnover, labor productivity, administrative cost efficiency, and collection policy on performance was also contemplated. Originality/value: The relationship between R&D and firm performance has been an interesting issue concerning the performance measures employed across different country settings. Research issues addressed in this paper relate to how R&D, and foreign trade by export influence firm performance across two diverse economic environments inherent of Chinese and South Korean leading manufacturing firms. Particularly, this study explores the directions and magnitudes of the operational and strategic relationships between key strategic factors, such as R&D intensity, export by foreign trade, and the firm's economic and market-based performance. [ABSTRACT FROM AUTHOR]

Purpose: The aim is to contribute to the personalist economics research agenda by exploring how personalist thought can theoretically inform the question of well-being and its measurement. Design/methodology/approach: The paper draws on the work of personalist philosopher Emmanuel Mounier. After reviewing relevant aspects of Mounier's political economic thought, the second section considers the conceptual implications for a personalist well-being measure and analyses its key tenets: integrality; heterogeneity; objectivity vs. subjectivity; and autonomy and freedom. The third section consists of a dialogue between Mounier's personalist philosophy and some aspects of Sen's capability approach applied to the issue of well-being measurement, which echoes and parallels some fundamental dimensions of personalist thought. Findings: Firstly, the conceptual analysis offers preliminary avenues for moving towards measuring well-being using an agent model that aligns more closely with the model of the economic agent as person, as is articulated by personalists and incorporating personalist principles. Secondly, the brief analysis of ways in which aspects of Sen's capability theory dialogue with personalist economic principles demonstrate the potential for personalist principles to be incorporated into welfare assessment theory. Originality/value: Personalist economics strives to re-think the foundations of economic theory by introducing the acting person as the economic agent, as opposed to the individual. Dissatisfaction with a range of mainstream economic well-being indicators suggests that there is a deficit in the normative and ontological assumptions that underlie conventional welfare economic models. Peer review: The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-02-2023-0084. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to investigate the relationship between money creation process and banking performance for Tunisian listed banks, particularly in the context of increased economic policy uncertainty. Design/methodology/approach: In the relevant literature, there are two theories of money creation. The theory of money creation out of nothing, by using the central bank for refinancing and the theory of financial intermediation, from which money creation is made from preexisting savings. In this paper, the authors utilize a panel data for a sample composed of 11 Tunisian banks during the period of study from 1999 to 2019. Findings: The study's empirical analysis show that both forms of money creation have a positive impact on bank profitability as measured by the return on assets (ROA) and return on equity (ROE) ratios. However, the same analysis shows that the channel of money creation out of nothing is the most profitable for banks. Also, the authors show that economic policy uncertainty negatively influences the relationship between money creation and banking profitability only when credit creation is derived from savings. Originality/value: This paper contributes to the literature by explaining the nexus between money creation and Tunisian banking performance which depends on the implementation of stable and conducive economic and political environment. Also, this link requires the implementation of monetary measures to encourage savings and develop an efficient capital market and judicious monetary policy enabling the central bank to inject more liquidity into the economy. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to understand the determinants of financial inclusion and the determinants of barriers to financial inclusion in India. Also, the purpose is to ascertain the determinants of informal financial activities in India. Design/methodology/approach: The data have been collected from the Global Findex Database (Findex) 2017. Various measures of financial inclusion, namely, ownership formal accounts, use of accounts for saving and borrowing, ownership and use of the debit card are used. The independent variables used are: age, income, education and gender. Given the binary nature of dependent variables, this paper uses the Probit model to draw the inferences. Findings: The results show that gender, age, education and income have a significant impact on the various measures of financial inclusion. Additionally, these factors have a significant impact on the informal saving and borrowing. Research limitations/implications: The given study uses the deferent measures of financial inclusion. An index of financial inclusion created using all the financial inclusion measures would be a better indicator of financial inclusion. Practical implications: The results of this study would be useful for policymakers to identify the determinants and barriers of financial inclusion in India. The results show that policymakers should focus on the female population, in particular, and education and income enhancing measures, in general, to make financial inclusion more inclusive. Originality/value: The study is the first of its kind to analyze financial inclusion in India using the Findex. Unlike previous studies, variables such as education and income are constructed more pragmatically. In particular, the study tries to understand the socio-economic determinants of financial inclusion measured as ownership of formal accounts, formal saving, formal credit, ownership of debit cards and use of debit cards. The study also analyzes the determinants of barriers to financial inclusion, savings (formal and informal) and borrowing (formal and informal). [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to estimate and compare the efficiency of several water utilities using three frontier techniques. Moreover, this study estimates the impact of several qualities of service variables on water utilities' performance. Design/methodology/approach: The paper utilizes three frontier techniques such as data envelopment analysis (DEA), stochastic frontier analysis (SFA) and stochastic non-parametric envelopment of data (StoNED) to estimate efficiency scores. Findings: Efficiency scores for each methodological approach were different being on average, 0.745, 0.857 and 0.933 for SFA, DEA and StoNED methods, respectively. Moreover, it was evidenced that water leakage had a statistically significant impact on water utilities' costs. Research limitations/implications: The choice of an adequate and robust method for benchmarking the efficiency of water utilities is very relevant for water regulators because it affects decision making process such as water tariffs and design incentives to improve the performance and quality of service of water utilities. Originality/value: This paper evaluates and compares the performance of a sample of water utilities using three different frontier methods. It has been revealed that the choice of the efficiency assessment method matters. Unlike SFA and DEA, a lower variability was shown in the efficiency scores obtained from the StoNED method. [ABSTRACT FROM AUTHOR]

Purpose: China has emerged as an undisputed leader of global business and as a preferred hub for global value chains. However, recent threats of the trade war, the allegation of violation of intellectual property rights and more recently the COVID-19 pandemic seemed to have dampened China's attractiveness. Multinational corporations may be contemplating diversifying their dependence on China – a strategy known as "China-Plus-One". What could be possible destinations in Asia for such a diversification strategy? Design/methodology/approach: Towards understanding the "China-Plus-One" phenomenon, the authors use a methodology of arriving at an aggregate ranking of the major economies of emerging Asia. This is built on a few standard indices such as World Bank's Logistic Performance Index; World Bank's Ease of Doing Business Indicator; World Economic Forum's Global Competitiveness Index; Economic Complexity Index of the Harvard University; Economist Magazine's Country Rating of Financial Strength; and Corruption Perception Index compiled by the Transparency International. Accordingly, the authors rank seven countries (namely, Thailand, Malaysia, India, Vietnam, Indonesia, the Philippines and Bangladesh) next to China as possible destinations for selecting the "Plus one" country. Findings: In the aggregate ranking, China ranks first followed by Thailand, Malaysia, Philippines, India, Indonesia, Vietnam and then Bangladesh. This sequence gives some pointers on the possible shifts from China as potential hubs of global value chains. The authors observe the following: first, it is challenging to move away from China in the short run; second, corporations could pursue a "China-plus-One" strategy, whereby they may move marginally from China and relocate part of their supply chain elsewhere; third, in looking for alternative locations, corporations may look for the following countries in emerging Asia, namely, Thailand, Malaysia, India, Vietnam, Indonesia, Philippines and Bangladesh. Originality/value: The aggregate ranking method applied in this paper is one of the first applications in the context of ranking developing Asian economies based on economic, logistics, supply chain, financial and corruption metrics. It is one of the first conceptual works in the domain of identifying possible diversification options for the "China-Plus-One" strategy that can be extended to include many context-specific rankings. [ABSTRACT FROM AUTHOR]

Purpose: Omnichannel implementation in retail requires business transformation and faces several operational barriers. This research discusses how omnichannel has been implemented, in a managerial perspective, and how integration of operations has overcome the identified transformative barriers. Design/methodology/approach: The authors followed a multi-case study approach, with observation and interviews with managers of four big retail companies in Portugal. Findings: The results suggest that retail companies have overcome the barriers to implement omnichannel models through the integration of information technology (IT), the accomplishment of organisational changes and the optimisation of customer feedback, achieving positive business indicators, namely increased sales. Research limitations/implications: The conclusions of the paper provide valuable information to help companies to design the process of channel's integration in order to overcome the transformative constraints of omnichannel. However, those conclusions emerge from Portuguese case studies of retail companies, and a generalised discussion should consider the contextual diversity of consumer expectations, cultural user experiences in retail and the maturity of digital transformation and omnichannel implementation stage in each country. Originality/value: Previous studies had characterised the items of omnichannel retail, fulfilment processes, the benefits of channels' integration in customer experience, satisfaction and loyalty and had identified barriers for its implementation. Considering the existence of different stages of omnichannel implementation, this paper explores how retail companies increment omnichannel operations, overcome transformative barriers and achieve the omnichannel benefits, through the whole involvement of the organisation system, the customer approach and the business model, besides the technology integration. [ABSTRACT FROM AUTHOR]

Purpose: The 2030 Agenda and the sustainable development goals (SDG) have gained considerable attention in research and public debate. This calls for accounting research on the subject of SDG disclosure. Based on this premise, this paper aims to evaluate and analyze the extent of SDG reporting by 80 listed firms from 8 selected African countries for the period of 2016 to 2018. Design/methodology/approach: The study adopts a content analysis and survey method to evaluate the extent of SDG reporting by the selected African countries. This paper conducted content analysis through the use of the PricewaterhouseCoopers (PwC) framework and Global Reporting Initiative (GRI) framework to gauge the extent of firms' compliance with SDG reporting. Also, this paper uses the business reporting indicators for each SDG developed by GRI to determine the compliance level of the selected firms regarding SDG reporting. The survey was targeted at the big four audit firms (PwC, KPMG, Ernst and Young and Deloitte and Touche). Findings: The evaluation of SDG disclosure by the 80 listed firms in Africa is still at a very low level except for South African firms. Also, the findings of the business reporting indicators for each SDG target show that most of the firms show little or no concern to report on SDG activities. The result of the research survey indicates that voluntary disclosure, lack of management commitment, lack of regulatory enforcement and cost implications account for low SDG disclosure by the selected African firms. Research limitations/implications: This study fails to consider the qualitative research approach in determining the extent of SDG disclosure in Africa, as the study did not allow respondents to freely express their opinion on SDG disclosure, as a large part of the survey used close-ended questionnaires. Practical implications: This study's findings call for clear responsibility and a strong drive for SDG performance from corporate institutions in Africa. While the overall responsibility rests on the government, the actualization of SDG cannot be achieved without support from corporate organizations. The empirical approach used in this study emphasizes the need for corporate organizations to embrace sustainable practices and to integrate SDG information into their reporting cycle. Originality/value: This study contributes to growing literature in the area of corporate reporting, sustainability reporting and SDG research in Africa and other emerging economies. Also, this study provides original insight into the contribution of accounting research toward the achievement of SDG. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to utilise the research patterns of the most prolific contributors to Lean and Six Sigma methodologies over a 15-year period to inform the discussion on whether the methodologies should be or are being integrated.Design/methodology/approach Structured searches using keywords were carried out using a single database (SCOPUS) to identify the most prolific contributors to research articles in the areas of Lean, Six Sigma and Lean Six Sigma, and thereafter patterns were analysed in five-year periods between 2000 and 2015.Findings This research demonstrates clear changing and evolving patterns of research activity. Not only is there a clear emergence of research focussed on Lean Six Sigma rather than a single methodology, there are also indications that researchers publish work using different methodologies in response to different challenges.Research limitations/implications The research is restricted to a single database and includes only the 21 most prolific contributors in each five-year period. The analysis is based on the focus of each peer-reviewed paper contributed to.Practical implications This research is intended to support and inform organisations which are developing or running business process improvement approaches by demonstrating the flexibility of Lean and Sigma, and evidencing that researchers work across different approaches and combine them when appropriate.Originality/value This paper provides a unique perspective on the debate for the integration of Lean and Six Sigma by looking at the patterns of work of researchers themselves to identify whether the focus of research has in fact moved on from exclusively lean or Six Sigma to more integrated approaches as has been argued in individual pieces of research. [ABSTRACT FROM AUTHOR]

Purpose: The paper is a preliminary assessment of coronavirus disease's (COVID-19) effects on African trade, policy responses and opportunities within the limitations imposed by data and the information currently available and in the lights of other international organizations' growth forecasts. The study was undertaken to get deeper understanding of the threats and opportunities of COVID-19 on African trade because of the existing interconnected trade networks making African countries to be more vulnerable and increasing number of restrictions and distortions among major traders. This study aims to present strong information required in underpinning sound national, regional and inter-regional policy responses to keep trade flowing. Design/methodology/approach: To assess COVID-19's effects on African trade, policy responses and opportunities, this study relied on data and information currently available from organizations such as World Trade Organization (WTO), World Bank (WB), Organisation for Economic Co-operation and Development, International Monetary Fund, European Union, International Trade Statistics and various African countries' trade and national statistics publications. The analysis contains two main scenarios. The first, an observed effects scenario (first quarter of year 2020), looks at the observed effect of COVID-19 outbreak on trade in Africa. The second, a potential effects scenario, analyses the potential trade effects if the COVID-19 outbreak lingers and spreads more intensively than is assumed in the baseline scenario. Findings: The COVID-19 outbreak affects several aspects of international trade even though the full effects of the outbreak are not yet visible in most trade data. Some leading indicators had shown that keeping trade flow can support the fight against COVID-19 as well as having damaging effect on Africa's trade. COVID-19 had led to a deep fall in transaction, both at the international level and within-regions. Tariffs and other restrictions to imports harm the flow of critical products to African countries. Uncooperative trade policies lead to higher prices of goods in fragile and vulnerable African countries. Research limitations/implications: Long term in-depth analysis of the effects of COVID-19 on trade using quantitative data is still very difficult because of paucity of data and the great level of the improbability of the trajectory of the spread of the virus. Informed assessment of the full trade impact of the pandemic on African countries is therefore still difficult. Notwithstanding, this study assesses the immediate effects and conveys the likely extent of impending African trade pains and the potential needs for assistance. Practical implications: Trade in both goods and services plays a key role in overcoming the pandemic and limit its effects by providing access to essential medical goods to treat those affected, ensuring access to food, providing farmers with needed inputs, support jobs and sustain economic activity during global recession. However, temporary COVID-19 trade measures such as borders closure, export prohibition and import ban are a threat to globalization and free trade agreements engaged by some African countries. Social implications: The continuous rise in COVID-19 cases is expected to trigger economic recession in Africa despite a rapid expansion and creation of new social protection programmes. The unavoidable decline in trade caused by COVID-19 is already having painful consequences on the economy, social anxiety among families, households, businesses and trade across countries in the continent. COVID-19 trade restrictions aimed at reducing the transmission of the virus have led to loss of income and jobs as well as closure of small and vulnerable businesses. Policymakers should enforce social policies that unite countries within the continents in bad times to reduce social anxiety and hardship. Originality/value: Although the effects of COVID-19 outbreak on global and regional trade have received enormous attention recently, facts in the form of data have been thin particularly on African trade. This paper, to the best of the authors' knowledge, is one of the first set of studies that provides preliminary assessment of COVID-19's effects on trade in Africa using scenarios-building approach based on the available data and information on regional trade, complemented by those from the WTO, WB and departments of trade and statistics from various African countries such as the Nigeria Nation Bureau of Statistic and Kenyan National Bureau of Statistics. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to assess the impact of credit risk on the market values of private banks during the corona pandemic. Design/methodology/approach: This study is identifying critical issues of credit risk at six great private banks. A conceptual framework is designed based on the Tobin Q model for investigating study hypotheses. Quantitative financial analysis methods have been used for processing data, such as financial ratios, arithmetic mean and multiple linear regression. Findings: The most important result of this study is the lack of influence of credit risk on the market value of selected banks. Because the dimensions of credit risk have critical importance in increasing or decreasing the market value, these banks must continue to adopt quantitative financial analysis to measure credit risks to avoid their risk. Originality/value: This study elaborates the need for financial indicators to help assess the market value of banks during the economic crises caused by the closure of commercial institutions during the corona pandemic. There is continued increase in bank credit to support these institutions, borrowers and cash withdrawals, which may affect their market reputation. [ABSTRACT FROM AUTHOR]

Purpose: This paper investigates the (a)symmetric effects of financial development in the presence of economic growth, energy consumption, urbanization and foreign direct investment on environmental quality of South Africa between 1980 and 2017. Design/methodology/approach: A robust measure of financial development is generated using banking institutions and non-banking institutions market-based financial development indicators, while environmental quality is measured using carbon footprint, non-carbon footprint and ecological footprint. The objectives of the study are captured using linear and non-linear autoregressive distributed lag. Findings: The result from the symmetric analysis suggests that financial development stimulates carbon footprint and ecological footprint in the short run; however, financial development abates non-carbon footprint. In the long run, financial development has a significant negative effect on carbon footprint and ecological footprint. However, the asymmetric analysis established strong asymmetric effect in the short run, while no asymmetric effect is found in the long run. The short run asymmetric analysis reveals that positive shock in financial development increases carbon footprint and ecological footprint; however, positive changes in financial development reduce non-carbon footprint. Negative shocks in financial development, on the other hand, have a positive impact carbon footprint, non-carbon footprint and ecological footprint. Practical implications: The study's outcome implies that the concept of "more finance, more growth" could also be applied to "more finance, better environment" in South Africa. The study offers vital policy suggestions for the realization of sustainable development in South Africa. Originality/value: This empiric adds to the body of knowledge on the influence of financial development on various components of environmental quality (carbon footprint, non-carbon footprint and ecological footprint) in South Africa. [ABSTRACT FROM AUTHOR]

Purpose: This article examines the links between average city size, fiscal decentralisation, and national economic growth in 33 Organisation for Economic Co-operation and Development (OECD) countries. Design/methodology/approach: The data in this paper comprise an unbalanced panel dataset which contains economic growth indicators, average city size, fiscal decentralisation indicators and control variables in 33 OECD member countries from 1975 to 2015 in five-year intervals. Fixed-effects (FE) estimators are used for the analysis. Findings: This research finds i) countries with larger weighted average city sizes have higher economic growth, ii) countries with greater fiscal decentralisation have higher economic growth, but iii) countries with larger weighted average city sizes with greater decentralisation have lower rates of economic growth. Originality/value: The research highlights the importance of agglomerations and decentralised governance and management for economic growth. While the findings are consistent with previous evidence that larger city sizes and fiscal decentralisation are separately associated with higher rates of economic growth, the authors find countries which have larger cities and greater fiscal decentralisation experience lower rates of economic growth highlighting a need for caution on decentralisation agendas in such cases. The implications of this suggest policymakers should proceed with caution on decentralisation agendas in countries with large cities. [ABSTRACT FROM AUTHOR]

Purpose: The COVID-19 health crisis has brought about a set of extra health and safety regulations, and procedures to the construction industry which could influence projects' economic performance (EP). The aim of this paper is to examine the effect of adopting COVID-19 safety protocols on construction sites on the economic performance (EP) of construction projects. Design/methodology/approach: Employing the survey method using a structured questionnaire, data were collected from small- and large-sized construction projects in Nigeria and analysed using partial least squares structural equation modelling (PLS-SEM) technique. Findings: The findings reveal that job re-organization and sanitization have negative significant effects on EP, while social distancing and specific training have no effect on EP. Furthermore, project size moderates the relationship between job re-organization, sanitization, specific training and EP with the stronger effect on the relationships observed in big projects, except for the relationship between sanitization and EP where the moderating relationship is stronger in small projects. However, there is no significant moderating effect of project size on the relationship between social distancing and EP. Practical implications: As construction project sites continue to operate amidst strict safety protocols, this study offers theoretical and practical insights on how construction projects can adhere to the safety protocols while performing economically. Originality/value: The originality of this study's findings stems from the fact that it is among the first to provide greater insight on how construction projects have fared economically considering the impact of the various COVID-19 protocols. [ABSTRACT FROM AUTHOR]

Purpose: The construction industry struggles in environmental and economic performance due to waste generation. Several studies have measured this waste in the construction industry of developing countries like India, Brazil, China, Nigeria and Iran, and proposed strategies to enhance the overall efficiency. But no such work exists in Pakistan's context. The construction industry of Pakistan contributes significantly to the country's gross domestic product (GDP). And with several mega projects in progress to overcome the energy crises and improve the infrastructure of the country, the absence of proper waste management policies and plans calls for empirical research. Therefore, this study quantifies and benchmarks material waste in the local context, its impact on project cost and the effect of multiple subcontracting arrangements on waste generation. It also proposes a conceptual waste management plan (WMP) for local conditions which can be generalized for developing countries. Design/methodology/approach: This paper uses a mixed research approach by leveraging Saunders's research onion model. To benchmark the current wastage practices, quantitative data of material waste in the Pakistani construction industry are gathered through document review of accounting systems, inventory and payment records of 40 completed building projects. Using the data, the waste rate of different materials is measured along with their impact on cost. Additionally, the role of subcontracting arrangements in waste generation is also investigated. Also, semi-structured interviews are conducted with project managers of high- and low-performing construction organizations to propose a conceptual WMP for the local industry and developing countries. Findings: The highest wasteful materials by quantity are wood, sand and concrete blocks, and those by cost are wood, bricks and steel. By quantity, 123% more material was used on average than the actual productive work. Also, the labor only (L-O) subcontracting arrangement causes maximum waste. Moreover, the difference between the highest (155%) and lowest wasting company (104%) is 51%, highlighting the proactive and resistive waste management culture and approach by the worst- and best-performing companies. Further, the impact of waste quantities is more than 2% of the project cost. Finally, a conceptual model consisting of measures at the project, industry and national levels is also proposed as a guide for developing countries. Practical implications: The findings of this benchmarking study can help improve the project planning, execution and monitoring, and control practices by providing a better understanding of the material waste potential. This will help economize the construction industry and improve its sustainability. Originality/value: This is the first benchmarking study that quantitatively measures material waste in the construction industry of Pakistan. It highlights that costly as well as sustainability-implicating materials are frequently wasted in the local construction projects. Also, this study correlates the wastage with subcontracting arrangements. Additionally, an original conceptual WMP is proposed that could help the industry improve its performance. The findings could help the construction professionals identify the loopholes in their material management practices and not only save money but also ensure better sustainability. [ABSTRACT FROM AUTHOR]

Purpose: National intellectual capital is generally considered a strategic advantage for national competitiveness. However, the measurement of intellectual capital across countries for comparison purposes appears to receive little attention. This study aims to use a new index of national intellectual capital (INIC) to examine the relationship between national intellectual capital and national competitiveness. Design/methodology/approach: This paper uses the INIC, developed by Vo and Tran (2021), to measure, compare and contrast differences in the level of national intellectual capital across 104 countries. INIC comprises the most crucial intellectual capital components: human capital, structural capital and relational capital. Various economic and social indicators are used as the proxies for these components of intellectual capital. Principal component analysis is used to derive INIC. Findings: The results indicate that during the study period the level of national intellectual capital gradually increased. Europe has attained the highest level of national intellectual capital, whereas Africa has achieved the lowest level. This study's findings confirm a close relationship between the national intellectual capital level and the national income level. Among the ten biggest countries, the USA achieved the highest national intellectual capital level, and China has significantly improved its cumulative level. Finland achieved the highest level of national intellectual capital in the world. National intellectual capital enhances a country's competitiveness. Practical implications: Findings in this study shed light on an international comparison of intellectual capital across countries and understanding how national intellectual capital contributes to and improves national competitiveness. Policymakers can consider and use these findings to support the accumulation of national intellectual capital and boost national competitive advantage, especially low-income countries and emerging markets. Originality/value: To the best of the authors' knowledge, this is the first study to estimate a degree of national intellectual capital around the world and examine its impact on national competitiveness based on publicly available data. [ABSTRACT FROM AUTHOR]

Purpose: Since financial sector plays a critical economic role in Hong Kong, the current research aims to comprehensively analyze the association between financial development and economic growth in the country to draw correct conclusions about the impact that financial sector's development has on the growth of the economy. This requires both using of more comprehensive data that includes all or nearly all elements of the country's financial sector and utilizing advanced econometrics techniques to provide more reliable evidence based on the findings. In the study, both issues have been addressed more academically to aid the relevant authorities better. Design/methodology/approach: This study empirically examines the financial development-economic growth nexus in Hong Kong employing data covering 1980–2019. The quantile-on-quantile (QQ) approach of Sim and Zhou (2015) is utilized to investigate certain subtle aspects of the association linking financial development and economic growth. In addition, the authors benefit from applying the nonlinear Granger causality test of Diks and Panchenko (2006) to assess the variables' nexus in a nonlinear manner. Findings: In contrast to the evidence of a unidirectional linkage documented in many related studies, the empirical findings suggest that a bi-directional relationship exists between financial development and economic growth for Hong Kong. This is a helpful input for the relevant policymakers and implies that they can set appropriate policies and regulations to balance financial development and economic growth in this country. Originality/value: The originality of this study can be divided into two parts. Methodologically, unlike past studies that utilized mostly linear and parametric methods, the paper contributes to the literature by applying the more robust nonparametric and nonlinear methodologies. Theoretically, most researchers have used various financial development indicators, which led to very different conclusions. Therefore, this study attempts to resolve this deficiency in the literature by using a more comprehensive index for financial development. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to explore the way in which system dynamics (SD) can enhance some key success factors of the balanced scorecard (BSC) model and support decision-makers, specifically in analyzing and evaluating the results of hypothetical scenarios. Moreover, the paper aims to emphasize the role played by statistics not only in validating the SD-based BSC, but also in increasing managers' confidence in the model reliability. Design/methodology/approach: The paper presents a case study, developed according to an action research perspective, in which a three-step approach to the BSC implementation was followed. Specifically, the first step requires the development and implementation of a "traditional" BSC, which is refined and transformed into a simulation SD model in the second step. Last, the SD-based BSC is combined with statistics to develop policy making and scenario analysis. Findings: The integration of BSC and SD modeling enables the development of a comprehensive approach to strategy formulation and implementation and, more importantly, provides a more reliable basis upon which to build and test sound cause-and-effect relationships, within a specific BSC. This paper exemplifies how an SD-based BSC can be used – and perceived reliable – to evaluate different scenarios and mutually exclusive policy effects in a multidimensional approach. In particular, this study illustrates how to forecast and depict trends for financial and non-financial indicators over the simulation period, with reference to three different scenarios. Originality/value: This paper contributes to the ongoing debate on the BSC by exploring whether a combination of SD and statistics may enhance the BSC system's advantages and facilitate its implementation process and use for decision-making and scenario analysis. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to examine the impact of knowledge management (KM) on the total factor productivity (TFP) at the organizational level in Egypt. Design/methodology/approach: Using the novel available EC 2013 data set, which includes approximately 60,000 private organizations in Egypt, the paper explores the relationship between KM and TFP. For the purpose of dealing with endogeneity, the two-stage least squares econometric model has been implemented. Findings: The study reveals that KM impacts positively the TFP of the Egyptian organizations. Conspicuously, each 10 percent increase in KM is associated with 9.3 percent increase in TFP. Originality/value: The role of KM in the organizations has been under-researched globally, especially in Africa. This study contributes to the current literature by assessing the impact of KM on TFP, which represents the most comprehensive measure of the firm productivity; by implementing a novel instrumental variable in order to deal with endogeneity between KM and TFP; and by generating a more nuanced measure for the knowledge intensity that is not based on any financial indicator as in the most of the previous studies. Original findings can be highlighted from the paper as it demonstrates that the impact of KM is more important than proposed by the current literature. Conspicuously, the KM does not merely impact the customer satisfaction, the quality improvement and the profit margin, but it also impacts the TFP of the organizations. [ABSTRACT FROM AUTHOR]