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Article
Publication date: 5 November 2020

Eric Mao, Brian P. Soebbing and Nicholas M. Watanabe

Utilizing the capital asset pricing model (CAPM), the purpose is to analyze whether the stock prices of the corporation that owns sport teams fluctuate based on team performance…

266

Abstract

Purpose

Utilizing the capital asset pricing model (CAPM), the purpose is to analyze whether the stock prices of the corporation that owns sport teams fluctuate based on team performance in the Chinese Super League (CSL).

Design/methodology/approach

Several CSL teams are publicly owned corporations. As such, the authors look to see if on-field performance impacts the stock price of the firms. Using the news model from previous research, seemingly unrelated regressions are estimated on CSL games from 2014 through 2017.

Findings

The results from the main models indicate some evidence of a statistical relationship between on-field team performance and stock price. Furthermore, the findings for individual teams across markets did not hold consistent across different markets. More specifically, the authors found some instances where successful on-field performance led to a decline in stock prices.

Originality/value

The present study further contributes to the growing literature related to on-field performance and stock prices. Unlike previous research, the use of the CSL as the empirical setting provides the opportunity to use multiple stock markets which provides an opportunity to further examine this relationship. Finally, the study contributes broadly to the literature on professional sports ownership structures around the world.

Details

Sport, Business and Management: An International Journal, vol. 11 no. 2
Type: Research Article
ISSN: 2042-678X

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Article
Publication date: 19 September 2023

Yanping Guo, Bingqing Xiong, Yongqiang Sun, Eric Tze Kuan Lim and Chee-Wee Tan

Peer-to-Peer Accommodation Service (P2PAS) has emerged as a novel paradigm that enables consumers to book temporary accommodation through P2PAS platforms (online transaction), and…

386

Abstract

Purpose

Peer-to-Peer Accommodation Service (P2PAS) has emerged as a novel paradigm that enables consumers to book temporary accommodation through P2PAS platforms (online transaction), and then reside in hosts' rooms (offline consumption). Due to potential variance in performance and conflict of interest between hosts and platforms, consumers may differ in their trust perceptions of the two parties, which in turn affects consumers' continuous usage of P2PAS. To this end, the authors endeavor to unravel the effect of consumers' trust incongruence on continuance intention, and to further elucidate the moderating influence of transaction and consumption risks on this relationship. This paper aims to discuss the aforementioned objectives.

Design/methodology/approach

This study collected data through an online survey of 408 P2PAS consumers. Polynomial modeling and response surface analysis were conducted to validate the hypothesized relationships.

Findings

Response surface analysis reveals that trust incongruence did not significantly affect consumers' continuance intention. However, continuance intention would be greater when TP was higher than TH compared with when TH was higher than TP. Furthermore, the analytical results suggest that trust incongruence exerts greater negative effect on continuance intention when transaction and consumption risks were high.

Originality/value

First, the study marks a paradigm shift in conceptualizing the incongruence between TP and TH as a determinant of consumers' continuance intention toward P2PAS. Second, the authors derive a typology of risks that is contextualized to P2PAS. Finally, the authors establish transaction and consumption risks as boundary conditions influencing the effects of trust incongruence on consumers' continuance intention toward P2PAS.

Details

Industrial Management & Data Systems, vol. 123 no. 11
Type: Research Article
ISSN: 0263-5577

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Article
Publication date: 29 November 2023

Michael Eric Bradbury and Oksana Kim

The study examines the changes in audit market concentration, auditor choice and audit quality in Russia following International Financial Reporting Standards (IFRS) adoption…

329

Abstract

Purpose

The study examines the changes in audit market concentration, auditor choice and audit quality in Russia following International Financial Reporting Standards (IFRS) adoption. Scholars have called for further examination of the effects of IFRS adoption on auditors, with an emphasis on the importance of analyzing emerging markets that are characterized by enforcement challenges and lack of proper infrastructure. It focuses on a unique feature of Russian companies – dual audits under Russian Accounting Standards (RAS) and IFRS – and investigates changes in audit concentration and audit quality for the two audit markets.

Design/methodology/approach

The authors rely on the audited financial statements of Russian public companies and perform pre-/post-IFRS adoption estimation using a logit regression to ascertain whether public firms change auditors from local firms with limited IFRS expertise to those with global reputation, namely Big 4 audit firms. Further, they examine whether the change in audit market concentration post-2012 affects audit quality as proxied by companies' propensity to receive a modified audit opinion and discretionary accruals. Auditor attributes were hand-collected from audited financial statements and matched with financial variables from Datastream.

Findings

The IFRS audit market was dominated by the Big 4 audit firms prior to 2012, and there is strong evidence that audit market share (concentration) increases for IFRS reports but not for RAS reports. In addition, companies are more likely to choose a Big 4 audit firm for an RAS audit, conditional upon a Big 4 firm conducting the IFRS audit. The authors do not find evidence of decrease in the probability of audit firms issuing a modified audit opinion under either RAS or IFRS, indicating that, in the Russian setting, increased auditor concentration post-IFRS adoption does not lead to enhanced risk or decline in audit quality. Moreover, they find that discretionary accruals decline post-2012. Overall, the findings indicate that the concern of global regulators regarding audit market concentration is not justified.

Research limitations/implications

The Russian reporting environment is unique and generally characterized by significant agency problems, and the study’s estimation sample is not large, compared to prior studies conducted predominantly in Western jurisdictions. Nevertheless, the authors shed light on the audit concentration phenomenon within emerging markets, for which empirical evidence is scarce. Future research could explore the impact of other capital market events and exogenous shocks, not limited to IFRS adoption, on the characteristics of Russia's audit market.

Practical implications

The IFRS reporting regime is commonly associated with enhanced reporting quality and improved information transparency among public companies. Yet, impairment of audit quality as a result of IFRS-driven increase in audit market share of Big 4 can potentially negate these capital market effects. This study shows that the concerns of global regulators are not valid and that audit quality does not change with increased share of Big 4 post-IFRS adoption.

Originality/value

Dual audits, whereby companies must prepare two sets of financial statements per the IFRS mandate, are not unique to Russia, and the evidence of IFRS reporting on the structural changes in the audit market and implications for audit quality under a dual regime is scarce. Accordingly, the study's findings are important and timely and are expected to aid regulators of countries that have announced or are contemplating the adoption of IFRS for public reporting purposes.

Details

Journal of Applied Accounting Research, vol. 25 no. 5
Type: Research Article
ISSN: 0967-5426

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Article
Publication date: 1 February 1989

Madan Handa

Introduction The objective of this paper is twofold: to discuss some methodological issues on the study of school‐job nexus and to provide a review of Marxism and Education and…

100

Abstract

Introduction The objective of this paper is twofold: to discuss some methodological issues on the study of school‐job nexus and to provide a review of Marxism and Education and the existing state of the art of Political Economy of Education.

Details

Humanomics, vol. 5 no. 2
Type: Research Article
ISSN: 0828-8666

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Article
Publication date: 1 March 1994

Leslie Armour

Time has run out for the “Vanguard Party”, but the growing disparity inwealth between the industrialized world and the less‐developed world andgrowing problems of income…

387

Abstract

Time has run out for the “Vanguard Party”, but the growing disparity in wealth between the industrialized world and the less‐developed world and growing problems of income distribution and public order still give life to the “Dream Economy” proposed by Marxists and others. If the dream is not kept alive and made more rational, confrontations in many parts of the world will continue to increase. Argues that potential rational solutions do exist, but the danger in the present situation is compounded by the fact that there is a great temptation to revive what Eric Voegelin called the “new gnosticism” – the array of authoritarian Governments, of which the Marxist State was one, which were based on claims to special knowledge which provided all‐purpose solutions. Current disparities of wealth provide rich feeding grounds for such ideas.

Details

International Journal of Social Economics, vol. 21 no. 2/3/4
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 13 April 2022

Md Ashaduzzaman, Charles Jebarajakirthy, Scott K. Weaven, Haroon Iqbal Maseeh, Manish Das and Robin Pentecost

Collaborative consumption (CC), a unique business model, provides several monetary and non-monetary benefits to customers. Several adapted theory of planned behaviour (TPB)-based…

2542

Abstract

Purpose

Collaborative consumption (CC), a unique business model, provides several monetary and non-monetary benefits to customers. Several adapted theory of planned behaviour (TPB)-based models were developed and tested to understand this consumption behaviour with the findings inconsistent and fragmented. Thus, this study aims to develop a general and consistent TPB model using a meta-analytic path analysis to better understand customers’ CC adoption behaviour.

Design/methodology/approach

Using 37 studies, a meta-analysis was performed adopting several analytical methods; bivariate analysis, moderation analysis and path analysis.

Findings

The universal TPB model shows that factors, that is, trust, attitude, perceived environmental responsibility and communication facilities, drive both perceived usefulness and CC. However, subjective norms, such as perceived behavioural control and emotional value, drive only perceived usefulness. Moderation analysis shows that the relationships between variables used in the proposed TPB model tends to vary depending on five moderators, that is, countries’ economic development level, type of CC, sample size, sample type and survey administration method.

Research limitations/implications

The consideration of only quantitative papers and papers written in English language in this meta-analysis may bias the study’s findings.

Practical implications

Based on the findings regarding important factors that consumers consider when adopting CC, this study provides insightful recommendations to companies facilitating CC.

Originality/value

By developing the universal TPB model, this study theoretically contributes to the TPB model, and by conducting the moderation test, the study contextually contributes to the TPB literature in the CC context.

Details

European Journal of Marketing, vol. 56 no. 4
Type: Research Article
ISSN: 0309-0566

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Article
Publication date: 1 March 1974

Frances Neel Cheney

Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Tenn. 37203. Mrs. Cheney does not sell the books listed here. They are…

300

Abstract

Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Tenn. 37203. Mrs. Cheney does not sell the books listed here. They are available through normal trade sources. Mrs. Cheney, being a member of the editorial board of Pierian Press, will not review Pierian Press reference books in this column. Descriptions of Pierian Press reference books will be included elsewhere in this publication.

Details

Reference Services Review, vol. 2 no. 3
Type: Research Article
ISSN: 0090-7324

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Case study
Publication date: 17 October 2012

Jianchang Liu and Kathryn Carlson Heler

Strategy.

Abstract

Subject area

Strategy.

Study level/applicability

The case is suitable for upper level undergraduate business and MBA students.

Case overview

FOTILE, one of the fam ily businesses in Zhejiang, Ch ina, has now become the leading brand in the Ch ina kitchen appliance industry and has successfully entered into the global market. It has gone from a traditional family business in the 1980s to a modern enterprise because of the successful transformation from the first generation (Father: Lixiang Mao) to the second generation (Son: Zhongqun Mao) and the blending of a family business with the modern enterprise system. They both have strong beliefs that family businesses have their own advantages, but they have different ways and strategies of running the business. The case describes the process of how the father and his son worked together designing the strategies to successfully grow FOTILE.

Expected learning outcomes

The case is a vehicle for exploring strategies to operate a family business, to successfully develop a sustainability model, to manage a growing company through its entrepreneurial stage, and to merge western business culture with Chinese Confucian culture. It should help students to: explore strategies of managing/leading a family business and transferring successfully the business from one generation to the next; understand the importance of marketing, focusing on overall strategy and sustainability; know how to identify market opportunities, exhibit start-up intent, perform start-up planning, mission development, and feasibility analysis, and acquiring initial resources; and appreciate the close link between culture and strategy.

Supplementary materials

Teaching notes are available for educators only. Please contact your library to gain login details or e-mail support@emeraldinsight.com to request teaching notes.

Details

Emerald Emerging Markets Case Studies, vol. 2 no. 8
Type: Case Study
ISSN: 2045-0621

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Book part
Publication date: 7 May 2019

Benjamin Feldman

For Leftists engaged in the study of political economy during the 1960s and 1970s, Cuba and China held particular promise as postrevolutionary states working to construct systems…

Abstract

For Leftists engaged in the study of political economy during the 1960s and 1970s, Cuba and China held particular promise as postrevolutionary states working to construct systems of production and distribution which were predicated on solidarity and mutuality, rather than on the exploited and alienated labor upon which capitalism depended. Against the claim that the desire for individual material gain was irreducibly a part of the human experience, China and Cuba offered the possibility of – in the parlance of the time – a “new man”: a political subject whose motivations were in alignment with a socialist economy rather than a capitalist one.

Based on research in multiple archives, this paper explores efforts on the part of radical economists in the United States – including the Marxists at Monthly Review, the young academics who founded the Union for Radical Political Economics (URPE), and a handful of older Left-Keynesians – to witness Third World experiments in nonmaterial incentives firsthand. What have often been dismissed as pseudo-religious “pilgrimages” were, in reality, voyages of discovery, where radicals searched for the keys to develop a sustainable, rational, and moral political economy.

While many of the answers that radicals found in Cuba and China were ultimately unsatisfying, Third-World experiments in moral incentives serve as a powerful example of “solidarity in circulation” during the “long 1960s,” and as an important reminder that attempts to keep social science research free of political contamination serve to reify disciplinary norms which are themselves the product of the political culture in which they were formed.

Details

Including A Symposium on 50 Years of the Union for Radical Political Economics
Type: Book
ISBN: 978-1-78769-849-9

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Book part
Publication date: 15 July 1991

WEIMING LI

Abstract

Details

Advances in Librarianship
Type: Book
ISBN: 978-0-12024-615-1

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