Bruno Bernal, Juan Carlos Molero and Fernando Perez De Gracia
The purpose of this paper is to examine the impact of fossil fuel prices – crude oil, natural gas and coal – on different electricity prices in Mexico. The use of alternative…
Abstract
Purpose
The purpose of this paper is to examine the impact of fossil fuel prices – crude oil, natural gas and coal – on different electricity prices in Mexico. The use of alternative variables for electricity price helps to increase the robustness of the analysis in comparison to previous empirical studies.
Design/methodology/approach
The authors use an unrestricted vector autoregressive model and the sample covers the period January 2006 to January 2016.
Findings
Empirical findings suggest that crude oil, natural gas and coal prices have a significant positive impact on electricity prices – domestic electricity rates – in Mexico in the short run. Furthermore, crude oil and natural gas prices have also a significant positive impact on electricity prices – commercial and industrial electricity rates.
Originality/value
Two are the main contributions. First, this paper explores the nexus among crude oil, natural gas, coal and electricity prices in Mexico, while previous studies focus on the US, UK and some European economies. Second, instead of using one electricity price as a reference of national or domestic electricity sector, the analysis considers alternative Mexican electricity prices.
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This chapter aims to identify, analyse, classify and rank the sustainability indices and internationalisation challenges of the footwear industry in the emerging economy of Iran…
Abstract
This chapter aims to identify, analyse, classify and rank the sustainability indices and internationalisation challenges of the footwear industry in the emerging economy of Iran. This would provide deeper decision-making insights into Iranian footwear businesses. First, a list of sustainability indices and internationalisation challenges was obtained by reviewing the literature. Then, a combination of multi-criteria decision-making (MCDM) approaches was implemented. The initial sustainability indices and internationalisation challenges were screened using the fuzzy Delphi method, keeping a total of 14 criteria. The best–worst method (BWM) was employed to weigh and rank the criteria. The interpretive structural modelling (ISM) technique and cross-impact matrix applied in MICMAC were employed to visualise the conceptual model based on the levels and classification of the important criteria for the internationalisation of the Iranian footwear industry. The 14 criteria were demonstrated to be important in internationalisation. The most critical sustainability indices were reducing hazardous substances in leather tanning and labour education and training. In contrast, exchange rate instability in Iran’s economy and strict chemical regulations for clothing and footwear were found to be the most important internationalisation challenges. Hence, these criteria should be considered in the internationalisation strategies of the Iranian footwear industry. A combined multilayer sustainable decision-making approach was used to analyse the Iranian footwear industry’s essential sustainability indices and internationalisation challenges. Furthermore, implications and insights are offered to footwear businesses for future decision-making.
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Soumya Bhadury, Vidya Kamate and Siddhartha Nath
The study provides medium-term estimates of recovery paths for Indian economy using a dynamic factor (DF)-based approach that employs data on high-frequency indicators à la…
Abstract
The study provides medium-term estimates of recovery paths for Indian economy using a dynamic factor (DF)-based approach that employs data on high-frequency indicators à la Bhadury, Ghosh, and Kumar (2020). The DFs are used to analyze the post-pandemic recovery and convergence with its pre-COVID-19 trend for India between March 2021 and March 2022. A broad sectoral assessment of the impact of COVID-19 is also conducted. In addition, forward-looking measures based on stock returns are used to analyze the transmission of additional banking sector risks to the real sectors by constructing daily delta conditional value-at-risk (CoVaR) estimates. Our estimates based on the DFs suggest that the aggregate economic activities may catch up to the estimated pre-COVID trend by March 2021 predominantly driven by the growth in services sector. The industrial sector and consumer goods sector continue to show moderate signs of recovery. Our CoVaR estimates corroborate these findings. Banking sector transmission risk is among the lowest for services such as healthcare and information technology (IT), for both the lockdown period between March 25 and June 8, 2020, and for the latter months. The transmission risk continues to remain high for metal, oil and gas, and capital goods sector. Broadly, the evidence on forward-looking banking sector risk transmission for major sectors is in alignment with our finding on their recovery based on DF models, after easing of COVID-19 lockdown.
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Azadeh Ranjbar Nedamani, Elham Ranjbar Nedamani and Azadeh Salimi
Human health is strongly affected by diet. By the increased use of food industries products, public knowledge about health factors and side effects of chemical additives, the…
Abstract
Purpose
Human health is strongly affected by diet. By the increased use of food industries products, public knowledge about health factors and side effects of chemical additives, the concepts of human health founded an important aspect during past years, and application of natural-based ingredients such as coloring, flavoring, texturizing and anti-oxidative agents was increased.
Design/methodology/approach
The aim of the present paper is to review the published scientific research studies about lycopene health benefits in different human disease or disorders and bold the necessity of study the health effects of lycopene after its formulation in food industrial products. About 190 papers were searched in Google Scholar, PubMed, Web of Science databases and 72 relevant papers were used. It was found that in medical studies, the lycopene oleoresin or powder is used directly to the subjects. However, it is necessary to study the effectiveness of lycopene in diet food products.
Findings
According to the literature, it has beneficial effects on cancers, glands, reproductive system, bone, gastric system, liver and fat reduction in the body. Also, it was concluded from the literature that lycopene oxidative cleavages make also its chemo protective effects which is a lost key element to study different food processing on lycopene products or its isomers in final food products and on human health.
Originality/value
Many ingredients in food formulations are substituted by natural products. Lycopene is a colorant but also, according to the literature, has a strong antioxidative and anti-inflammatory effect to reduce the risk of most important human disease and disorders. Future research in food science can emphasize the effect of different unit operations or formulations on lycopene effects on human health.
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Marzanna Katarzyna Witek-Hajduk, Anna Małgorzata Grudecka and Anna Napiórkowska
The aim of this paper is to identify ways and motives of application of e-commerce in the foreign expansion of small and medium enterprises (SMEs) fashion brands.
Abstract
Purpose
The aim of this paper is to identify ways and motives of application of e-commerce in the foreign expansion of small and medium enterprises (SMEs) fashion brands.
Design/methodology/approach
A multiple case study was used as the research method. Data were obtained from primarily in-depth interviews with managers of four Polish SMEs –fashion brands owners, whose products are sold in the foreign markets using e-commerce, and secondary sources.
Findings
Through this study the authors identified both strategic-proactive and market-reactive motives of e-commerce applications in SMEs’ fashion brands in the internet-enabled foreign expansion and three different models of usage of e-commerce in the foreign expansion of SMEs.
Research limitations/implications
The research was based on the multiple case study of only Polish SMEs in the fashion industry. The conclusions of this study can be applied by fashion companies in their internet-based foreign expansion.
Originality/value
This study contributes to the existing body of literature on the internationalization process of SMEs, and particularly on the application of cross-border e-commerce in the foreign internet-enabled expansion of fashion SMEs by identifying three various models of applying e-commerce, in the internet-enabled foreign expansion and their both proactive and reactive motives.
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Hella Abidi, Wout Dullaert, Sander De Leeuw, Darek Lysko and Matthias Klumpp
The purpose of this paper is to establish criteria for evaluating strategic partners in a network of logistics service providers (LSPs) to show how analytical network process…
Abstract
Purpose
The purpose of this paper is to establish criteria for evaluating strategic partners in a network of logistics service providers (LSPs) to show how analytical network process (ANP) can be used to identify the weights of these criteria on a case-specific basis, and to investigate whether the ANP model can be used as a starting point to evaluate strategic partners for other LSP networks.
Design/methodology/approach
Based on a literature review of vertical cooperation, the authors develop an overview of criteria for the evaluation of partners in a network of LSPs. The authors then apply ANP at LSP1 to validate the criteria, identify weights for these criteria and to validate model outcomes. Furthermore, the authors investigate whether the ANP model developed for LSP1 can be applied to another LSP with similar characteristics (LSP2). In-depth interviews are used to draw conclusions on the modeling approach and the model outcomes.
Findings
The research shows that evaluation criteria for partners in vertical partnerships between shippers and LSPs are applicable to LSP partners in horizontal partnership networks. The ANP model with criteria weights provides a good starting point for LSPs to customize the evaluation framework according to their specific needs or operating environments.
Originality/value
Limited research is available on evaluating LSP partners in horizontal partnerships. To the best of the authors’ knowledge, this paper is the first to bring forward horizontal LSP partner evaluation criteria to develop an ANP model for LSP partner evaluation and to apply this to two cases, and to provide a starting point for evaluating partners in similar horizontal LSP networks.
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Jooh Lee, Kyungyeon (Rachel) Koh and Eunsup Daniel Shim
This study investigates the empirical association between environmental, social and corporate governance (ESG) performance and top executive compensation in the US financial…
Abstract
Purpose
This study investigates the empirical association between environmental, social and corporate governance (ESG) performance and top executive compensation in the US financial services industry. Considering that financial firms can inflict systemic shocks across the economy, it has been argued that they must conduct ethical and sustainable business in accordance with ESG principles. This study examines whether ESG efforts are beneficial to managers.
Design/methodology/approach
The authors use CEO compensation and ESG performance ratings data for all US financial firms (SIC 6000–6799) from 2015 to 2019. Employing fixed effects regressions, the authors test whether lagged ESG performance is related to CEO compensation, after controlling for other firm characteristics such as size, financial performance, leverage and CEO stock ownership.
Findings
The authors find that lagged ESG ratings are strongly associated with all forms of compensation. An increase of one standard deviation in the composite ESG rating is associated with a 14%–16% increase in the total pay. Among the three ESG pillars, only S (social) and G (governance) exhibit persistent and significant associations with both short- and long-term executive pay. The authors also document the significant moderating effects of ESG on the relationships among firm performance, size, leverage, ownership and executive pay, identifying how ESG is associated with compensation.
Originality/value
The authors conclude that managers receive ESG incentives implicitly and explicitly. The novel finding of direct and indirect associations between ESG and top executive compensation contributes to the growing ESG literature on the financial sector and ongoing debate about the explicit inclusion of ESG targets in compensation design.
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Presents the scientific methodology from the enlarged cybernetical perspective that recognizes the anisotropy of time, the probabilistic character of natural laws, and the entry…
Abstract
Presents the scientific methodology from the enlarged cybernetical perspective that recognizes the anisotropy of time, the probabilistic character of natural laws, and the entry that the incomplete determinism in Nature opens to the occurrence of innovation, growth, organization, teleology communication, control, contest and freedom. The new tier to the methodological edifice that cybernetics provides stands on the earlier tiers, which go back to the Ionians (c. 500 BC). However, the new insights reveal flaws in the earlier tiers, and their removal strengthens the entire edifice. The new concepts of teleological activity and contest allow the clear demarcation of the military sciences as those whose subject matter is teleological activity involving contest. The paramount question “what ought to be done”, outside the empirical realm, is embraced by the scientific methodology. It also embraces the cognitive sciences that ask how the human mind is able to discover, and how the sequence of discoveries might converge to a true description of reality.
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The purpose of this paper is to present how my positionality as a researcher aligned with the works of Latour in terms of methodological inspirations and allowed me to develop a…
Abstract
Purpose
The purpose of this paper is to present how my positionality as a researcher aligned with the works of Latour in terms of methodological inspirations and allowed me to develop a critical vantage point and simultaneously adopt a heterogeneously rather than hierarchically informed approach to ordering the world, which I argue serves as a basis for a more inclusive study of management systems.
Design/methodology/approach
I reflect on my own positionality as a researcher and share how my interpretation of Latour's ontology through some of his ideas and concepts, particularly symmetry, power, translation and agency, allowed me to incorporate and organize heterogeneous actors depicted in different empirical materials into space-time contexts and subsequently theorize organizing and management practices as agential, multiple and becoming.
Findings
A base in Latour’s ontology has equipped me with openness towards empirical settings, which I argue retains a democratic approach to theorization, i.e. theorization, which remains mindful of inadvertent assumptions about power, hierarchy or the taken for granted. This approach has also given me a form of personal resilience as a researcher.
Originality/value
The originality of this paper lies in presenting and developing the concept of method as democratizing. I argue that Latour’s approach to the empirical allows for at least two forms of active democratizing, one relating to the researcher as self and the other in how it incorporates the empirical actors into research, making possible the inclusivity of heterogeneity in analyses of organizations and organizing.