Pami Dua and Niti Khandelwal Garg
The study aims to empirically investigate the trends and determinants of labour productivity of the two broad sectors –industry and services – and their components, namely…
Abstract
Purpose
The study aims to empirically investigate the trends and determinants of labour productivity of the two broad sectors –industry and services – and their components, namely, manufacturing and market services sectors, in the case of major developing and developed economies of Asia-Pacific over the period 1980-2014 and make a comparison thereof.
Design/methodology/approach
The study uses econometric methodology of panel unit root tests, panel cointegration and group-mean full modified ordinary least squares (FMOLS).
Findings
The study finds that while capital deepening, government size, institutional quality, productivity of the other sector and financial openness affect productivity of all the sectors significantly, the impact of human capital and trade openness varies across sectors in the case of developing economies. Furthermore, the impact of technological progress becomes significant in the post-liberalization reforms period in the developing economies. The study further finds that capital deepening, human capital, government size, institutional quality, productivity of the other sector, government size and trade openness are significant determinants of productivity of all sectors of developed economies under consideration. However, the impact of technological progress is stronger for manufacturing sector than services and its components. Furthermore, while both equity and debt liabilities (as measures of financial openness) influence sectoral productivity of industry and manufacturing sectors positively and significantly in case of developed economies, only equity liabilities have a significant influence on the productivity of developing economies. This may indicate existence of more developed financial markets in the case of developed economies.
Originality/value
The study identifies important structural differences in determinants of productivity both across sectors and across developing and developed economies of Asia-Pacific.
Details
Keywords
Kofi Mintah Oware and Thathaiah Mallikarjunappa
The purpose of this study is to investigate family management, financial performance and gender diversity of listed firms.
Abstract
Purpose
The purpose of this study is to investigate family management, financial performance and gender diversity of listed firms.
Design/methodology/approach
Using the India stock market as a testing ground, this paper used descriptive statistics and panel regression with random effect assumptions in the analysis of 800 firm-year observations between 2010 and 2019.
Findings
The findings show that an improvement in stock price returns leads to a corresponding increase in women employment. Also, the study shows that an increase in family-managed firms leads to a decrease in the number of women employed in listed firms. This paper speculates using the social role theory that family involvement may see women as the weaker vessel and with a role to concentrate on raising children and handling house affairs. The consequence is a decrease in women employment. The study also shows that the interactive variable of financial performance (return on assets and return on equity) × family-managed firms still causes a decrease in women employment. This paper perceives that managers in family-managed firms see women as weaker vessels and home managers which is consistent with the Indian culture. The results are robust after controlling for endogeneity.
Research limitations/implications
The research study is limited to large firms on the Indian stock market that submit sustainability reports and also used a single country data that can potentially limit the generalisation of the study.
Originality/value
No studies have combined social role theory in examining the effect of family management on gender diversity in the emerging markets.