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1 – 9 of 9This study aims to explore the factors whereby some international organizations (IOs) are more effective than others in international mediation and proposes three types of…
Abstract
Purpose
This study aims to explore the factors whereby some international organizations (IOs) are more effective than others in international mediation and proposes three types of hypotheses through combining quantitative and qualitative analysis. First, IOs with greater institutional capabilities for gathering, exchanging and disseminating conflict-related information are more likely to mediate effectively. IO bias is another factor of influence in this regard. Second, IOs with greater institutional capabilities for deploying field missions and guaranteeing agreement are more likely to mediate effectively and maintain durable peace. Third, IOs with higher amounts of leverage are more likely to mediate effectively.
Design/methodology/approach
The study establishes two data sets: one on interstate conflict; the other on intrastate conflict, thus to cover as many research samples as possible and avoid sampling bias.
Findings
Results of the statistical analysis indicate that no matter interstate or intrastate conflict, IOs with higher institutional capabilities for diplomatic interventions are more likely to bring conflict parties to an agreement and thereafter maintain short-term peace. IOs with higher institutional capabilities for economic sanctions are similarly effective. Furthermore, IOs with greater institutional capabilities for field mission deployment mediate more effectively, whether in facilitating peace agreements or maintaining short-term and long-term peace after the agreement. IO bias and preference, however, have no significant impact on mediation effectiveness.
Research limitations/implications
This study has made no in-depth explorations of such existing and important research areas as different third-party comparisons of the mediation effect.
Practical implications
This paper attempts to make some contributions to the topic of mediation effectiveness through applying a bargaining model to the research and performing a statistical analysis based on both an interstate conflict data set and an intrastate conflict data set.
Originality/value
This paper provides an in-depth causal analysis and thoroughgoing comparison of the effectiveness of IOs in both interstate conflicts and intrastate conflicts.
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This paper aims to study the interplay between a risk-averse national brand manufacturer's (NBM) selling mode decision and a risk-neutral e-platform's private brand (PB…
Abstract
Purpose
This paper aims to study the interplay between a risk-averse national brand manufacturer's (NBM) selling mode decision and a risk-neutral e-platform's private brand (PB) introduction decision.
Design/methodology/approach
A game theory model is used to solve selling mode decision, that is whether transform the selling mode from the wholesale mode to the marketplace mode, and PB introduction decision, that is, whether introduce the PB.
Findings
The results show that for the NBM, under certain condition, the NBM's selling mode decision is not affected by the e-platform's PB introduction decision. High revenue-sharing rate is conducive only when the difference in consumer preference between the PB and the national brand (NB) is small. The NBM's risk aversion will improve the applicability of the marketplace mode. For the e-platform, high PB preference of consumers and risk-averse behavior of the NBM is not conducive to PB introduction. For the supply chain, scenarios that the NB monopolizes the market under the wholesale mode and PB introduction under the marketplace mode should be prevented. PB introduction under the wholesale mode will become the only equilibrium with the increase of risk aversion of the NBM. Finally, the authors extend the scenario that consumers prefer the PB and the e-platform is risk-averse enterprise and find that PB introduction under the wholesale mode is detrimental to the NBM but beneficial to the supply chain. The impact of consumers' PB preference on the e-platform's PB introduction is opposite to the basic model. The impact of the e-platform's risk aversion on game equilibrium is opposite to that of the NBM's risk aversion.
Originality/value
This paper is first to study selling mode decision and PB introduction decision when considering enterprises' risk-averse attitude.
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Haixia Wang, Yuliang Wang, Yaozong Sun, Qiong Pu and Xiao Lu
Because of the inconvenience and inflexibility of the laser controller, the applied range of optogenetics is limited. This paper aims to present the design of a portable…
Abstract
Purpose
Because of the inconvenience and inflexibility of the laser controller, the applied range of optogenetics is limited. This paper aims to present the design of a portable remote-controlled laser controller system, including the remote-controlled system and the laser stimulator.
Design/methodology/approach
The remote-controlled system is handheld, which can wirelessly adjust the power and the emitting frequency of the laser by utilizing the ZigBee module.
Findings
The laser stimulator can be mounted on the animal as it is light weight (35 g) and small in size (40 × 40 × 20 mm), and its power and frequency can be appropriately adjusted by changing the current amplitude and duty radio. In the end, the experiments verify the reliability and effectiveness of the laser controller.
Originality/value
In virtue of the modular design of the driven circuit and the reasonable layout, the whole system has the advantages of small volume, convenient control and high stability, which provide the convenience for the development of portable optogenetics animal robot experiment and has broad market prospects.
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Ming Qi, Danyang Shi, Shaoyi Feng, Pei Wang and Amuji Bridget Nnenna
In this paper, the authors use the balance sheet data to investigate the interconnectedness and risk contagion effects in China's banking sector. They firstly study the network…
Abstract
Purpose
In this paper, the authors use the balance sheet data to investigate the interconnectedness and risk contagion effects in China's banking sector. They firstly study the network structure and centrality of the interbank network. Then, they investigate how and to what extent the credit shock and liquidity shock can lead to the risk propagation in the banking network.
Design/methodology/approach
Referring to the theoretical framework by Haldane and May (2011), this paper uses the network topology theory to analyze the contagion mechanism of credit shock and liquidity shock. Centrality measures and log-log plot are used to evaluate the interconnectedness of China's banking network.
Findings
The network topology has shown clustering effects of large banks in China's financial network. If the Industrial and Commercial Bank of China (ICBC) is in distress, the credit shock has little impact on the Chinese banking sector. However, the liquidity shock has shown more substantial effects than that of the credit shock. The discount rate and the rollover ratio play significant roles in determining the contagion effects. If the credit shock and liquidity shock coincide, the contagion effects will be amplified.
Research limitations/implications
The results of this paper reveal the network structure of China's interbank market and the resilience of banking system to the adverse shock. The findings are valuable for regulators to make policies and supervise the systemic important banks.
Originality/value
The balance sheet data of different types of banks are used to construct a bilateral exposure matrix. Based on the matrix, this paper investigates the knock-on effects of credit shock triggered by the debt default in the interbank market, the knock-on effects of liquidity effects, which is featured by “fire sale” of bank assets, and the contagion effects of combined shocks.
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Shagufta Parveen, Zoya Wajid Satti, Qazi Abdul Subhan, Nishat Riaz, Samreen Fahim Baber and Taqadus Bashir
This study investigates the impact of the COVID-19 pandemic on investors' sentiments, behavioral biases and investment decisions in the Pakistan Stock Exchange (PSX).
Abstract
Purpose
This study investigates the impact of the COVID-19 pandemic on investors' sentiments, behavioral biases and investment decisions in the Pakistan Stock Exchange (PSX).
Design/methodology/approach
The authors have assessed investors' behaviors and sentiments and the stock market overreaction during COVID-19 using a questionnaire and collected data from 401 investors trading in the PSX.
Findings
Results of structural equation modeling revealed that the COVID-19 pandemic affected investors' behaviors, investment decisions and trade volume. It created feelings of fear and uncertainty among market participants. Evidence suggests that behavioral heuristics and biases, including representative heuristic, anchoring heuristic, overconfidence bias and disposition effect, negatively influenced investors' decisions at the PSX.
Research limitations/implications
This study will contribute to behavioral finance literature in the context of developing countries as it has revealed the impact of COVID-19 on the emerging stock market, and its results are generalizable to other emerging stock markets.
Practical implications
The findings of this study will help academicians, researchers and policymakers of developing countries. Academicians can formulate new behavioral models that can depict the solutions of dealing with an uncertain situation like COVID-19. Policymakers like the Securities Exchange Commission and the PSX can formulate crisis management strategies based on behavioral finance concepts to cope with situations like COVID-19 in the future and help lessen investors' losses in the stock markets. The role of the Securities Exchange Commission is crucial as it regulates the financial markets. It can arrange workshops to educate investors to manage their decisions during crisis time and focus on the best use of irrational and rational decision-making at the same time using Lo (2004) adaptive market hypothesis.
Originality/value
The novelty of the paper is that the authors have introduced overconfidence and disposition effect as mediators that create a connection between representative and anchoring heuristics and investment decisions using primary data collected from investors (institutional and retail) to demonstrate the presence of psychological biases during COVID-19, and it has been done for the first time according to authors' knowledge. It is a contribution and addition to the behavioral finance literature in the context of developing countries' stock markets and their efficiency.
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Tanveer Ahsan, Sultan Sikandar Mirza, Bakr Al-Gamrh, Chai Bin-Feng and Zia-Ur-Rehman Rao
The purpose of this study is to investigate the moderating impact of corporate governance (CG) on the relationship between economic policy uncertainty (EPU) and the sustainable…
Abstract
Purpose
The purpose of this study is to investigate the moderating impact of corporate governance (CG) on the relationship between economic policy uncertainty (EPU) and the sustainable growth (SG) of Chinese firms.
Design/methodology/approach
The study collects data of 975 Chinese non-financial listed firms for the period from 2010 to 2017. The study measures SG using a comprehensive index based on nine financial indicators and applies industry and year fixed effects regression to investigate the direct and moderating impact of CG on the relationship between EPU and SG of Chinese firms.
Findings
The results of the study explain that EPU negatively affects SG, while concentrated ownership, board independence and board gender diversity (BGD) positively contribute to the SG of the Chinese firms. The results also explain that concentrated ownership and BGD reduce the negative impact of EPU on the SG of the Chinese firms.
Research limitations/implications
The study considers only non-financial firms; therefore, the results of this study cannot be generalized for financial firms. Future research can be carried out while considering financial firms as a unit of analysis.
Practical implications
The investigation of the negative impact of policy uncertainty on SG is essential for the government and policymakers to devise policies to reduce uncertainty. The investigation of the moderating effect of CG enriches the literature on corporates’ response to policy uncertainty. It provides valuable insights for corporates regarding CG mechanisms to attain SG.
Originality/value
To the best of the authors’ knowledge, this is the first study that investigates the moderating impact of CG on the SG of Chinese firms using an index-based measurement of SG.
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Thanh Pham Thien Nguyen, Nga Thu Trinh and Son Nghiem
This study aims to investigate the relationships between loan growth, loan losses and net income after the 2008 global financial crisis. This study further conducts a comparative…
Abstract
Purpose
This study aims to investigate the relationships between loan growth, loan losses and net income after the 2008 global financial crisis. This study further conducts a comparative analysis by considering the period of COVID-19.
Design/methodology/approach
This study uses panel data models such as one-step system GMM, random effects, fixed effects and OLS, with a data set of 131 Chinese commercial banks from 2009 to 2020.
Findings
The study finds no significant relationship between loan growth and future loan losses. However, after adjusting loan loss by net interest income (NII-adjusted loan loss), the study reveals that loan growth in the subsequent year decreases if NII-adjusted loan loss increases. The study also demonstrates the positive effect of loan growth on net income as newly expanded loans are funded at similar costs but offered at a lower rate compared with existing loans. During COVID-19, loan growth and net income were higher than in previous years.
Originality/value
The findings suggest that Chinese banks can increase lending to support the economy without sacrificing loan quality, emphasizing the importance of maintaining and enhancing credit policies and practices. Chinese banks should also continue to refine their pricing strategies for loans and deposits. The findings also imply that China's policy responses to the impact of COVID-19 could serve as lessons for future policy decisions.
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Liaqat Ali, Jianing Mi, Mussawar Shah, Syed Jamal Shah, Salim Khan, Rizwan Ullah and Kausar Bibi
Road and transportation has a significant role in the prosperity, economic growth and development of a region. The main purpose of this study is to conduct an in-depth analysis of…
Abstract
Purpose
Road and transportation has a significant role in the prosperity, economic growth and development of a region. The main purpose of this study is to conduct an in-depth analysis of local residents’ attitude towards road and transport infrastructure (China–Pakistan economic corridor, CPEC) and the wider economic, social, cultural and environmental impact on local people.
Design/methodology/approach
Data were collected using a questionnaire survey from the local people. Factor analysis and structural equation modelling approach were used to test the relation between the observed and latent variables.
Findings
The result discovered that road infrastructure has significant socio-economic and cultural impacts that significantly affect the local people support for CPEC development. It also revealed that more promotion and awareness regarding benefits of the project for dwellers lead to more support of the local residents in the study area.
Practical implications
Information provided by this study will help policymakers to gain local resident support for the project and make policies accordingly for the future projects.
Originality/value
This study investigated the attitude and support of the local people based on the road infrastructure’s social, economic, cultural and environmental impact, which has never been examined in the existing literature.
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