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Article
Publication date: 6 June 2023

Shekhar Saroj, Rajesh Kumar Shastri, Priyanka Singh, Mano Ashish Tripathi, Sanjukta Dutta and Akriti Chaubey

Human capital is a portfolio of rich skills that the labour possesses. Human capital has attracted significant attention from scholars. Nevertheless, empirical findings on the…

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Abstract

Purpose

Human capital is a portfolio of rich skills that the labour possesses. Human capital has attracted significant attention from scholars. Nevertheless, empirical findings on the utility of human capital have often been divided. To address the research gap in the literature, the authors attempt to understand how human capital plays a significant role in financial development and economic growth nexus.

Design/methodology/approach

The authors rely on secondary data published by the World Bank. The authors use econometric tools such as the autoregressive distributive lag (ARDL) model and related statistical tests to study the relationship between human capital, India's financial growth and gross domestic product (GDP) growth.

Findings

Study findings suggest that human capital and financial development contribute significantly to economic growth. Further, the authors found that human capital has a positive and significant moderating effect on the path of joining financial development and economic growth.

Practical implications

The study contributes to the human capital debate. Despite the rich body of literature, the study based on World Bank data confirms the previous findings that investment in human capital is always useful for the financial and economic growth of the nation.

Originality/value

This paper reveals some unique findings regarding effect of financial development and economic growth nexus which opens the window of new dimension to think about their nexus. It also provides a different pathway to foster the economic growth by using human capital and financial development as together, especially in India.

Details

Benchmarking: An International Journal, vol. 31 no. 4
Type: Research Article
ISSN: 1463-5771

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Article
Publication date: 5 September 2016

Nabamita Dutta and Sanjukta Roy

The purpose of this paper is to test the relationship between state fragility and transparency. A state is deemed fragile when it falters in its ability to manage conflict and in…

476

Abstract

Purpose

The purpose of this paper is to test the relationship between state fragility and transparency. A state is deemed fragile when it falters in its ability to manage conflict and in its capacity to deliver basic functions and implement public policy. Although minimizing fragility of the state is undoubtedly an integral component of economic development, there is a huge variation across countries in terms of where they stand with regard to fragility. Further, it also explores how educational attainment affects the relationship between state fragility and transparency.

Design/methodology/approach

Using several robust estimation methodologies and a relatively new database on transparency, the authors find that higher levels of transparency lower state fragility. They reply on fixed effect estimators, lagged one period and five periods and system GMM estimators as part of our identification strategy.

Findings

Using several robust estimation methodologies and a relatively new database on transparency, the authors find that a higher level of transparency lowers state fragility. Greater and free flow of information empowers the populace, restores trust in government, increases participation in the political arena and, thus, reduces state fragility. This paper additionally shows that higher educational attainment helps reap the benefits of transparency even more and, thus, catalyzes transparency to lower-state fragility more effectively.

Research limitations/implications

Our research shows that greater transparency leads to lower state fragility. Additionally, if the populace of the country has higher educational attainment, the benefits of transparency in reducing state fragility is enhanced. Although enhancing transparency amid high state fragility may be a challenging task, it can be achieved by providing the populace with better media access via internet and cell phones.

Originality/value

The authors use a relatively new database of transparency to show that transparency acts as an important determinant of state fragility. A state is deemed fragile when it falters in its ability to manage conflict and in its capacity to deliver basic functions and implement public policy. Given this definition, it is needless to say that what can affect state fragility and how can such fragility be lowered is an important research agenda. This paper aims to fill this gap. Additionally, it shows the importance of education while exploring such a relationship.

Details

International Journal of Development Issues, vol. 15 no. 3
Type: Research Article
ISSN: 1446-8956

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Article
Publication date: 7 November 2016

Nabamita Dutta, Russell S. Sobel and Sanjukta Roy

Existing literature has expressed significant pessimism about the outcomes of foreign aid received by developing nations. Foreign aid can lead to negative outcomes by generating…

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Abstract

Purpose

Existing literature has expressed significant pessimism about the outcomes of foreign aid received by developing nations. Foreign aid can lead to negative outcomes by generating greater rent-seeking opportunities and creating aid dependence. While aid’s negative impact has been explored in the context of growth, political institutions, and economic institutions, the literature has not investigated the effect of aid on business climate of recipient nations. The purpose of this paper is to explore foreign aid’s impact on government regulations on the business climate in Sub-Saharan African (SSA) and Middle East and North American countries.

Design/methodology/approach

The authors consider a panel of 64 countries over six years. Since foreign aid is most likely to be endogenous, as identified in most studies, the identification strategy follows two methodologies – system GMM estimator, that creates its own instruments via moment generating conditions and instrumental variable approach that relies on an external instrument.

Findings

The authors find that aid worsens the business climate by increasing government restrictions. Foreign aid provides the recipient governments and the political elite resources to strengthen their power and reinforce predatory policies that are harmful for the business climate. The results further show that in the presence of long-lasting and sustainable democratic regimes, the negative impact of foreign aid on business climate mitigates to a certain extent.

Originality/value

While aid’s negative impact has been explored in the context of growth, political institutions, and economic institutions, the literature has not investigated the effect of aid on business climate of recipient nations. The authors explore the impact of foreign aid on government regulations on the business climate in SSA and Middle East and North American countries.

Details

Journal of Entrepreneurship and Public Policy, vol. 5 no. 3
Type: Research Article
ISSN: 2045-2101

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Article
Publication date: 7 October 2013

Nabamita Dutta, Russell S. Sobel and Sanjukta Roy

Previous literature has clearly demonstrated the need for sound government policies or “institutions” to promote and support entrepreneurship in a country. The purpose of this…

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Abstract

Purpose

Previous literature has clearly demonstrated the need for sound government policies or “institutions” to promote and support entrepreneurship in a country. The purpose of this paper is to explore the role of one such institution – political stability – in boosting entrepreneurial endeavors. A politically stable nation will have lower risk and transaction/contracting costs, and higher levels of government transparency, predictability, and accountability. Thus, the paper should expect that with greater political stability there should be a greater degree of entrepreneurial activity.

Design/methodology/approach

Using dynamic panel estimators (System GMM estimators) and considering multiple proxies of political risk, our results confirm this hypothesis. Such estimators handle challenges associated with panel data efficiently.

Findings

The paper's results show that greater political stability for a country does indeed lead to an increased rate of entrepreneurship and wealth creation.

Originality/value

Entrepreneurship is critical to the process of economic growth and development. To prosper, countries must unleash the creative talents of their citizens through the decentralized process of formal private sector entrepreneurship. New legal businesses create jobs, opportunities, wealth, and goods and services that make a nation grow. Sadly in many nations, this process is stifled and poverty is the result. While previous research has examined which types of specific policies matter for promoting entrepreneurship, the paper considers the different question of how the stability of political institutions impacts the rate of entrepreneurship.

Details

Journal of Entrepreneurship and Public Policy, vol. 2 no. 2
Type: Research Article
ISSN: 2045-2101

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Article
Publication date: 4 June 2018

Sanjukta Brahma, Agyenim Boateng and Sardar Ahmad

The purpose of this paper is to investigate the motivation and post-merger operating performance (OP) of European utility sectors following mergers and acquisitions (M&A).

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Abstract

Purpose

The purpose of this paper is to investigate the motivation and post-merger operating performance (OP) of European utility sectors following mergers and acquisitions (M&A).

Design/methodology/approach

Motives behind M&A are examined by looking into the relationships between total gains, target gains and acquirer gains. Post-merger OP is measured by comparing the sample of European utilities with a matched portfolio based on size and market to book ratio with respect to five accounting indicators: growth in turnover, growth in earnings before interest and tax, return on assets, net profit margin and growth in fixed assets.

Findings

Synergy is the primary motive for M&A in the European utility firms. This study also found that post-merger OP is negative and significant across all the five accounting indicators matched by size, and market to book ratio suggesting that utility mergers underperform in the long term. The findings suggest that gains accruing to utilities involved in acquisitions are short term in nature.

Practical implications

Negative post-merger OP bears important policy implications as in future antitrust/competition authorities should be more vigilant before approving utility mergers.

Originality/value

Public utilities possess several characteristics that are different from industrial firms and therefore need to be examined separately. Empirical literature on M&A is very limited on utilities. This study has addressed this gap by examining the motivation and post-merger OP of the European utility firms.

Details

International Journal of Public Sector Management, vol. 31 no. 5
Type: Research Article
ISSN: 0951-3558

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Article
Publication date: 17 April 2009

Elizabeth Daniel, Devendra Kodwani and Sanjukta Datta

The purpose of this paper is to determine the impact of announcements regarding information and communication technologies (ICTs)‐enabled offshoring on the share prices of public…

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Abstract

Purpose

The purpose of this paper is to determine the impact of announcements regarding information and communication technologies (ICTs)‐enabled offshoring on the share prices of public companies.

Design/methodology/approach

The study is carried out by means of an event study.

Findings

The finding from this research is that investors do not tend to reward offshoring announcements. It is most likely that the value of the firm will be perceived as unchanged or if there is a reaction, it is most likely to reduce the value of the firm. A positive relation between size of firm and the size of the offshoring contract is found. Also, US investors are found to be more likely to react negatively than UK investors.

Research limitations/implications

This study extends the use of event studies in the information systems domain to ICT‐enabled offshoring. Owing to the relatively nascent state of offshoring, and consistent with previous event studies, the data set used in this study is relatively modest.

Practical implications

Managers in many types of organisations are currently undertaking or considering offshoring, this study will enable them to understand the possible reactions of shareholders and other stakeholders.

Originality/value

This study provides an empirical contribution by undertaking the first event study of offshoring announcements. It is also one of the very few event studies that considers both UK and US‐based companies. Its use of transaction cost economics perspective also adds to the theoretical understanding of offshoring, by demonstrating that investors appear to consider increased transaction costs involved in offshoring will outweigh lower purchasing or production costs.

Details

Journal of Enterprise Information Management, vol. 22 no. 3
Type: Research Article
ISSN: 1741-0398

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Article
Publication date: 13 February 2017

Seth Ketron, Rodney Runyan and M. Theodore Farris II

The current work reviews all retailing articles published in four prominent retailing journals – Journal of Retailing, Journal of Retailing and Consumer Services, International

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Abstract

Purpose

The current work reviews all retailing articles published in four prominent retailing journals – Journal of Retailing, Journal of Retailing and Consumer Services, International Journal of Retail & Distribution Management, and International Review of Retail, Distribution and Consumer Research – in the 2009-2015 period, picking up where Runyan and Hyun (2009) left off. The purpose of this paper is to identify leading authors and institutions in retailing research based on overall impact.

Design/methodology/approach

Content analysis/literature review/descriptive research.

Findings

In total, 1,392 articles were published during this time period, and through a procedure of weights and adjustments for author count, journal impact, journal quality, and journal publishing opportunity, the findings reveal that research collaboration is highly prevalent, as evidenced by the high number of multi-authored papers and cross-university/international partnerships. Additionally, some authors and institutions remain influential, while others have emerged as highly influential in the last seven years. This shows the dynamic nature of the field and the need to remain active in quality publishing.

Research limitations/implications

Scholars must understand that several factors influence impact judgments, which cannot be assessed using raw counts alone. Journal quality, impact, and publishing opportunity as well as author counts are important elements to consider.

Originality/value

These reviews are vital to the field in that they provide status updates on scholarship, so these reviews should be done periodically. Additionally, the findings in this paper provide a more holistic understanding of research impact and permit better assessment for scholars and administrators.

Details

International Journal of Retail & Distribution Management, vol. 45 no. 2
Type: Research Article
ISSN: 0959-0552

Keywords

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