Çağrı Aksoy-Hazır and Omer Faruk Tan
This study aims to examine whether geopolitical risk (GPR) impacts the cash holdings behavior of 210 Turkish firms between 2005 and 2019. The authors choose Turkey as a country of…
Abstract
Purpose
This study aims to examine whether geopolitical risk (GPR) impacts the cash holdings behavior of 210 Turkish firms between 2005 and 2019. The authors choose Turkey as a country of interest because Turkey has an important place in terms of geographical location and serves as a bridge between Europe and Asia. Considering the prominent role that can play in decision-making processes, the authors thought that analyzing the impact of GPR on the cash holdings determinants of Turkish firms would be important and interesting. A widely accepted view is that GPRs play an important role in the economic decisions of emerging countries, such as Turkey.
Design/methodology/approach
The authors examine models with fixed effects (FE), random effects (RE) and pooled ordinary least squares (POLS), respectively. First, the authors analyzed whether POLS, FE or RE would be the most appropriate model. According to the F-test and the Breusch–Pagan LM test, the FE and the RE models are more suitable than POLS. Then, according to the Hausman test results, the authors found that FE is this study's most appropriate model. After determining the validity of FE, the diagnostics tests of heteroscedasticity, autocorrelation and serial correlation tests are examined. Due to the presence of these problems, Driscoll and Kraay's (1998) test, which is the robust standard error estimator, is used.
Findings
The authors find a positive relationship between GPR and cash holdings after controlling firm-level control variables. Firms faced with uncertainty prefer to hoard cash as a precautionary measure. In keeping with real options theory, firms postpone the investments of firms under uncertain conditions. The use of alternative measurements for GPR and cash holdings ensures the validity of our results. The authors' research reveals that investors and politicians should pay more attention to the influence of GPR on the determinants of the cash holdings of firms.
Research limitations/implications
There are limitations for this study, but this study may provide opportunities for further studies. First, this study has only data from Turkey. This situation mitigates cross-country effects. In future studies, the number of firms, countries of focus and time span can be expanded. Second, this study does not consider the period of coronavirus disease 2019 (COVID-19) that increased risk and uncertainty worldwide. Further studies may consider the impact of COVID-19 and geographical risks relating to cash holdings. Third, the authors try to choose more relied independent and control variables.
Practical implications
The authors' results provide some insights that are relevant to practitioners and policymakers. Managers need to consider GPR in managers' financial decisions based on managers' firm-specific characteristics. Turkish policymakers should target improving policies to alleviate the negative effects of GPRs. Regulators should postulate more encouraging policies to firms in an environment of GPR. Regulators can give firms more time to understand and analyze the GPRs and the impacts of GPRs to adjust regulators' day-to-day activities.
Originality/value
There are fewer studies in the literature that analyzed the relationship between GPR and cash holdings. This study aims to full this gap in the literature.
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Tuba Çakır Çanak, Ömer Faruk Vurur and İ. Ersin Serhatlı
This paper aims to investigate effects of acrylic functionalisation of multiwalled carbon nanotubes (MWCNTs) on properties of carbon nanotubes/epoxy nanocomposites.
Abstract
Purpose
This paper aims to investigate effects of acrylic functionalisation of multiwalled carbon nanotubes (MWCNTs) on properties of carbon nanotubes/epoxy nanocomposites.
Design/methodology/approach
A number of analytical techniques, including Fourier transform infrared spectroscopy, Raman spectroscopy, scanning electron microscopy and transmission electron microscopy, were used to assess the effects of acid treatment on MWCNTs. Ultraviolet-curable coatings were fabricated by sonication and cast moulding process. The mechanical properties of MWCNTs/epoxy composites at different weight fractions were evaluated by performing tensile tests and dynamic mechanical analysis tests. Also, gel contents were examined.
Findings
It was found that addition of nanotubes monomer to epoxy formulations had significant effect on the viscoelastic and mechanical properties.
Practical implications
Improving dispersion and alignment of MWCNTs in the composite matrix will contribute to the development of resin/MWCNTs nanocomposites and promote the applications.
Originality/value
The paper establishes a method to introduce MWCNTs into epoxy matrix as a monomer to enhance the photo curable and dispersion properties of the MWCNT/epoxy films.
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Abdel Hafiez Ali Hasaballah, Omer Faruk Genc, Osman Bin Mohamad and Zafar U. Ahmed
The purpose of this study is to develop a comprehensive model that explains the influence of different relational variables on export performance and the interaction between those…
Abstract
Purpose
The purpose of this study is to develop a comprehensive model that explains the influence of different relational variables on export performance and the interaction between those relational variables.
Design/methodology/approach
This is a theoretical paper building upon the relational variables and export performance literatures.
Findings
A theoretical model was developed based on the existing studies and findings. In the proposed model, relational outcome variables mediate the effect of relational contextual variables on export performance.
Research limitations/implications
The model developed in this study opens new avenues for future research because it provides a different perspective on how relational variables interact with each other in terms of their impact on export performance.
Practical implications
Relational variables have great importance for firms’ export performance. This study provides a framework about how these variables affect export performance, which should be taken into consideration in firms’ strategies and decisions with regard to the relations with partners.
Originality/value
Despite the consensus about the importance of relational variables, the evidence is mixed with regard to the way they affect export performance. With the proposed model, this study aims to fill this gap by providing a framework that explains how relational variables interact with each other and how they affect export performance.
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Ranendra Sinha and Subrahmanyam Annamdevula
This study aims to intend to contribute to the literature by testing the effect of scepticism on green consumer behaviour through environmental concern, knowledge, value and…
Abstract
Purpose
This study aims to intend to contribute to the literature by testing the effect of scepticism on green consumer behaviour through environmental concern, knowledge, value and willingness to pay more in the Indian context. Thus, the comprehensive model with new directions of antecedents of green consumer purchase behaviour and direct and indirect effects was examined using structural equation modelling.
Design/methodology/approach
The study adopted the hypo-deductive research design to test the proposed structural model. Cross-sectional data were collected through a predesigned questionnaire from the households living in Visakhapatnam city using a purposive sampling method. The proposed theoretical model was tested using structural equation modelling.
Findings
The results support five antecedents’ direct and indirect effects on green purchase behavioural intentions and actual buying behaviour, except for the indirect effect of green scepticism on green purchase behaviour (GPB). Similarly, scepticism is responsible for significant variation in GPB.
Practical implications
The present study’s findings imply the role of scepticism on GPB, and the policies of adopting green products need to be addressed. Green buying is an obscure task; however, it can be evident by adding eco-friendly aspects and persuading consumers of a win-win situation for themselves, the environment and the company.
Originality/value
This study adds to the field of knowledge by exploring and testing the factors affecting GPB, which was not emphasized earlier in the Indian context and second, by developing a theoretical consensus on testing the antecedents of GPB. The results strengthen the argument that scepticism is an antecedent that drives GPB.