Alex Lundqvist, Eva Liljeblom, Anders Löflund and Benjamin Maury
The cultural and legal differences between foreign acquirers and African target firms can be substantial. There is also a large variation in cultures and legal systems within…
Abstract
Purpose
The cultural and legal differences between foreign acquirers and African target firms can be substantial. There is also a large variation in cultures and legal systems within Africa. However, there is limited research on merger and acquisition (M&A) performance by foreign firms in Africa. The purpose of this paper is to fill this gap by exploring the “spillover by law” hypothesis (Martynova and Renneboog, 2008) that focuses on the influence of the external environment on the governance and performance of foreign M&As in Africa.
Design/methodology/approach
The data set covers 415 M&A transactions by foreign firms in Africa during the period of 1999–2016. Dynamic data covering the country’s legal, cultural and political environment are collected from the World Bank, the Heritage Foundation and Transparency International.
Findings
The authors find that the legal environment significantly affects the returns of bidders on African firms. For complete acquisitions, bidder returns are significantly higher when the bidder’s country has higher shareholder protection and higher creditor protection compared with the target firm’s country. The results show that the effects are significant when there is a full control change (including a change in the target firm’s nationality) but not in the case of partial control transfers. The results are consistent with the “spillover by law” hypothesis.
Originality/value
The authors contribute to the literature on cross-border M&As by separately studying the valuation effects of full, majority and minority changes in control; by being the first study of the legal spillover effects in Africa; and by being the most extensive study of the legal determinants of the valuations of non-African acquirers of African firms.
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Masculine Muhammad Muqorobin, Utpala Rani and Alex Johanes Simamora
This research aims to examine the moderating role of the existence of risk management committee between risk-taking behavior and companies’ performance.
Abstract
Purpose
This research aims to examine the moderating role of the existence of risk management committee between risk-taking behavior and companies’ performance.
Design/methodology/approach
Research sample includes 383 manufacturing company-year that listed on the Indonesian Stock Exchange period of 2017–2020. The risk-taking behavior includes the use of leverage, capital intensity, research and development intensity, and earnings uncertainty. The hypothesis test uses company fixed-effect regression.
Findings
The result shows that risk management committee moderates the effect of risk-taking behavior on companies’ performance. This research also finds the similar result when risk management committee and risk-taking behavior are examined on the future performance. In the further analysis, the result also finds that the expertise of risk management committee moderates the effect of risk-taking behavior on companies’ performance.
Originality/value
This research contributes to fill the previous gap of risk-taking behavior and companies’ performance by considering the existence of risk management committee to promote oversight role on risk-taking behavior. This research also contributes to give new evidence in Indonesia about the role of risk management committee to improve the benefits or to reduce the costs of risk-taking behavior.
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Friday Ogbu Edeh, Nurul Mohammad Zayed, Md. Faisal-E-Alam, Vitalii Nitsenko and Oleg Bazaluk
The well-being of employees is very crucial, especially for the survival and sustainability of the mobile telecommunication industry and thus, the deployment of flexible working…
Abstract
Purpose
The well-being of employees is very crucial, especially for the survival and sustainability of the mobile telecommunication industry and thus, the deployment of flexible working arrangements becomes paramount for managers and industry practitioners to implement. This research aimed to assess the impact of flexible working arrangements on employee well-being within the mobile telecommunication industry.
Design/methodology/approach
Utilizing multiple linear regression analysis, the research tested hypotheses to examine the significance of the relationships. Grounded in the Border Theory of Balanced Work, the study sought to explore the relationship between flexible working arrangements, including flextime schedules, compressed workweeks and telecommuting and various dimensions of employee well-being.
Findings
The results of the study demonstrated a statistically significant positive effect of flexible working arrangements on employee well-being within the mobile telecommunication industry. It concluded that flexible working arrangements that are measured with a flextime schedule, a compressed workweek and telecommuting improve employee well-being through psychological well-being, social well-being and workplace well-being.
Originality/value
This research contributes to the existing body of knowledge by establishing a positive connection between flexible working arrangements and employee well-being in the context of the mobile telecommunication industry. Managers of telecommunication firms should continue with the implementation of flexible working arrangements to enhance the well-being of their employees. The study provides valuable insights for both scholars and industry practitioners, emphasizing the significance of continued implementation of flexible working arrangements to promote and sustain the well-being of employees.
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This research aims to examine the moderating role of managerial ability on the relationship between risk-taking behavior and firms' performance.
Abstract
Purpose
This research aims to examine the moderating role of managerial ability on the relationship between risk-taking behavior and firms' performance.
Design/methodology/approach
This research uses 383 manufacturing firm-years listed on the Indonesian Stock Exchange as the research sample. The hypothesis test uses fixed-effect regression analysis.
Findings
The result shows that risk-taking behavior has a positive effect on firms' performance for higher managerial ability. Managerial ability provides higher knowledge, skill and information to get benefits and mitigate costs of risk-taking behavior to improve firms' performance. The role of managerial ability to make risk-taking behavior increase firms' performance occurs more for high-ability managers, dual CEO, shareholder-CEO and family CEO.
Originality/value
This research contributes to answering the conflicting arguments and filling the previous findings gap between risk-taking behavior and firm performance by considering managerial ability as a factor to create effective risk mitigation.
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Michael Williamson, Jason Doyle, Brooke Harris-Reeves and Kevin Filo
Active supporters and the organisations they form are crucial stakeholders for football clubs. Previous literature has noted the increasing interest and positive outcomes…
Abstract
Purpose
Active supporters and the organisations they form are crucial stakeholders for football clubs. Previous literature has noted the increasing interest and positive outcomes associated with corporate social responsibility initiatives within sport organisations, which fans perceive and include employee wellbeing. Whilst scholars have explored various stakeholders’ perceptions of athlete wellbeing, an opportunity exists to understand how active supporters perceive athlete wellbeing programmes. Thus, the purpose of the current research was to explore the perceptions of A-League Men’s active supporters regarding an athlete wellbeing programme.
Design/methodology/approach
Informed by stakeholder theory, active supporters of the A-League provided their perceptions of the Player Development Programme (PDP) – the athlete wellbeing programme associated with professional football in Australia. Data were collected through open-ended questions within an online survey and analysed through inductive thematic analysis.
Findings
Three themes were generated that answer the research question: impactful and beneficial; worthy of more attention and promotion and limited understanding. These themes underscore the positive impact of the wellbeing programme on both the club and its athletes whilst highlighting the necessity for increased programme visibility within the club and the broader community.
Originality/value
The current study’s findings contribute to the sport management literature by exploring active supporters’ perceptions of an athlete wellbeing programme in football. Since athlete wellbeing is essential for active supporters, including wellbeing initiatives within the club’s corporate social responsibility initiatives could produce positive marketing and sponsorship outcomes for clubs.
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Obinna Chinedu Okezue, Madonna Uzoigwe, Livinus Ekene Ugwu, Jeneviv Nene John, Davidson Okwudili John and Ukamaka Gloria Mgbeojedo
This study aims to explore the level of independence among persons with disabilities (PWDs) towards their use of public buildings’ facilities, as well as assess the anxiety and…
Abstract
Purpose
This study aims to explore the level of independence among persons with disabilities (PWDs) towards their use of public buildings’ facilities, as well as assess the anxiety and relevant challenges regarding such use.
Design/methodology/approach
In a cross-sectional survey design, 91 consenting PWDs were recruited via purposive sampling at diverse locations and invited to complete self-report questionnaires on their use of public buildings’ facilities.
Findings
Only 19 PWDs (20.9%) were able to independently use such facilities. The participants’ level of anxiety, observed to be mostly severe (41.7%), was significantly associated with sex and affected body region (p < 0.05). Most PWDs identified “lack of amenities” (85.7%), “inconvenience” (78%) and “safety issues” (59.4%) as relevant challenges towards the use of public buildings’ facilities.
Research limitations/implications
This research emphasises the urgent need to universally improve PWDs’ level of independence towards the use of public buildings’ facilities alongside eradicating anxiety and challenges experienced towards such use. Accessibility ought to be promoted among PWDs, with specific attention given to women and those affected in multiple body regions; as such populations are prone to experiencing substantial anxiety. This approach should entail the provision of barrier-free facilities as well as ensuring their safe and convenient use by PWDs.
Originality/value
This study sought and provided key feedback from PWDs on the current built environment, which ought to be considered by relevant stakeholders to improve accessibility, promote well-being and contribute towards meeting the global goals of reducing inequality and making cities/communities inclusive, safe, resilient and sustainable.
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Magdalena Maria Popowska and Monika Sady
This study aims to identify a sustainable university’s key features. It is an essential step in tracing the topics discussed in the context of a sustainable university and their…
Abstract
Purpose
This study aims to identify a sustainable university’s key features. It is an essential step in tracing the topics discussed in the context of a sustainable university and their evolution in the scientific discourse.
Design/methodology/approach
This paper relies on a systematic literature review (SLR) conducted using two scholarly databases: Emerald and Scopus. The timeframe selected by the authors for reviewing the available sources spans from 2001 to 2021.
Findings
The analysis distinguished seven sustainable university categories, each revealing critical features of sustainable higher education. Each of these categories represents an intriguing area for in-depth analysis. The SLR reveals gaps requiring further scientific exploration.
Research limitations/implications
The performed literature review was determined by the choice of entries (keywords) to identify the scientific papers in the selected databases. Moreover, as the authors aimed to focus on peer-reviewed sources, this SLR did not include books and doctoral dissertations dealing with the studied issues.
Practical implications
The results of the analysis can be used practically by both researchers and practitioners in the field of sustainable development (SD). Identified scientific gaps become a potential research field, and practitioners interested in the transition toward SD may contribute by accompanying universities in this journey. Collaboration and networking with business stakeholders are critical vectors for spreading the idea of SD.
Social implications
Society’s growing concern for climate change requires accurate and specific actions from institutions. As entities educating future generations, universities have a unique role in transforming toward SD. The findings allow us to get acquainted with the existing main activities undertaken by higher education institutions in this field and understand the importance of this topic for researchers.
Originality/value
SLR is a cornerstone of research synthesis and helps integrate scientific evidence from qualitative and quantitative published studies. Conducted research presents knowledge about university sustainability and can help scientists find research gaps.