Search results

1 – 10 of 24
Per page
102050
Citations:
Loading...
Access Restricted. View access options
Article
Publication date: 11 February 2021

Noman Younas, Shahab UdDin, Tahira Awan and Muhammad Yar Khan

The purpose of this paper is to examine the impact of corporate governance index (PAKCGI) on firm financial distress for a sample of 152 non-financial firms listed at Pakistan…

3990

Abstract

Purpose

The purpose of this paper is to examine the impact of corporate governance index (PAKCGI) on firm financial distress for a sample of 152 non-financial firms listed at Pakistan Stock Exchange (PSX) over the period from 2003 to 2017.

Design/methodology/approach

To examine the impact of PAKCGI on financial distress (Altman Z-Score), random effect model is applied. The PAKCGI is a self-constructed index based on the five important factors of corporate governance practices, i.e. board of directors, audit committees, right of shareholders, disclosures and risk management. The binary coding approach is adopted for the construction of PAKCGI. Altman Z-Score model is used as a proxy for financial distress indicator. The absolute value of Altman Z-score has been taken as financial distress indicator.

Findings

The outcomes of the study indicate a positive impact of PAKCGI on risk of firms’ financial distress. The positive coefficient of PAKCGI implies that the good corporate practices work as catalyst to reduce risk of financial distress in Pakistan. A significant negative impact of block holders on financial distress suggests that the concentrated block ownership take monopolistic decision to protect their interests. It has also been observed that significant positive impact of institutional ownership on financial distress exists in the Pakistani listed firms. Furthermore, this study also reveals that significant negative association between board size, CEO duality and financial distress indicator.

Research limitations/implications

The findings may encourage the Pakistani listed companies to follow and implement good corporate governance practices, which would lead to increase the confidence of investors, regulators and stakeholders.

Originality/value

The current study extends the corporate governance literature by examining the relationship between the corporate governance attributes and the financial distress status of Pakistani listed companies. From the academic perspective, this paper adds to the knowledge concerning the association between corporate governance practices and risk of financial distress in emerging markets.

Details

Corporate Governance: The International Journal of Business in Society, vol. 21 no. 4
Type: Research Article
ISSN: 1472-0701

Keywords

Access Restricted. View access options
Article
Publication date: 27 July 2020

Hummera Saleem, Malik Shahzad Shabbir, Bilal Khan, Shahab Aziz, Maizaitulaidawati Md Husin and Bilal Ahmed Abbasi

This empirical analysis tries to examine determinants of private foreign direct investment (FDI) in Pakistan using the bounds test approach. Main determinants of FDI among them…

400

Abstract

Purpose

This empirical analysis tries to examine determinants of private foreign direct investment (FDI) in Pakistan using the bounds test approach. Main determinants of FDI among them are the size of the market (Q) macroeconomic stability (r), political stability (PRS), real exchange rate (REX) and institutional quality (INQ).

Design/methodology/approach

This study used annual time-series data set starting from 1980 to 2016. This study has used time-series data with ARDL and error-correction model (ECM) and examined main determinants of FDI for Pakistan. The study used the Granger causality test (modified WALD test) to identify the causality among the variables.

Findings

Moreover, empirical findings indicate the long-run relationship between GDP, trade openness and institutional quality toward FDI. However, political instability, inflation and real exchange rate harm FDI in Pakistan. Furthermore, results of Granger causality indicate that the bidirectional causality running from FDI and Q toward FDI is significant, providing evidence of FDI-led growth hypotheses in Pakistan. This study determines the correlation between FDI and Q (GDP growth) related to the “feedback hypothesis” in the short and long run. This study also concludes that the short-run causal connection among FDI, REX, PRS, r and Q follows the “feedback hypothesis.” This describes that FDI, REX, PRS, r and Q variables are jointly determined and affected together.

Originality/value

This study also explores the causal association between FDI and its significant determinants, by using methods of Granger causality test and the approach of Toda-Yamamoto-DoladoLutkephol (TYDL) to examine the causal relationship and its directions among these variables.

Details

South Asian Journal of Business Studies, vol. 10 no. 1
Type: Research Article
ISSN: 2398-628X

Keywords

Access Restricted. View access options
Book part
Publication date: 6 May 2024

Belal Ali Ghaleb, Sumaia Ayesh Qaderi and Faozi A. Almaqtari

The global economy has been affected by the COVID-19 pandemic, which has placed greater responsibility on companies to fulfill their obligations to Corporate Social Responsibility…

Abstract

The global economy has been affected by the COVID-19 pandemic, which has placed greater responsibility on companies to fulfill their obligations to Corporate Social Responsibility (CSR) amid the crisis. This chapter investigates the role of a Chief Executive Officer (CEO) attributes in improving a firm's CSR in the emerging economy of Jordan and how the COVID-19 pandemic modifies this relationship. Using a Jordanian sample of 655 firm-year observations during the 2014–2021 period, the research results show that older CEOs, well-educated CEOs, CEOs' remuneration, and CEOs' ownership positively correlate with CSR reporting. However, long-tenured CEOs are associated with lower CSR initiatives. The subsample analysis findings also validate the significance of CEO attributes in improving CSR practice during the COVID-19 pandemic compared to the prepandemic period. These findings are beneficial for the regulatory setters to understand better whether CEO attributes are linked to engagement in CSR-related information. This research is among the limited number of studies that have explored how CEO attributes impact CSR reporting for the stakeholder's welfare. Moreover, it uniquely concentrated on contrasting the findings before and during the COVID-19 pandemic.

Details

The Emerald Handbook of Ethical Finance and Corporate Social Responsibility
Type: Book
ISBN: 978-1-80455-406-7

Keywords

Access Restricted. View access options
Article
Publication date: 3 April 2023

Hong Hai Pham and Thi Loan Le

The current study aims to explain the relationship between entrepreneurial education and entrepreneurial intention through a moderated mediation model from the lens of social…

560

Abstract

Purpose

The current study aims to explain the relationship between entrepreneurial education and entrepreneurial intention through a moderated mediation model from the lens of social cognitive career theory (SCCT). Specifically, two main objectives of this study are (1) to explore the mediation role of entrepreneurial self-efficacy in the relationship between entrepreneurial education and start-up intention and (2) to investigate the moderate role of family support on the effect of entrepreneurial education on entrepreneurial intention.

Design/methodology/approach

This study uses a sample of 1879 students in Vietnam and SPSS PROCESS macro developed by Hayes (2012) to examine the indirect effect of entrepreneurial education on start-up intention via entrepreneurial self-efficacy and the moderated mediation effect of family support.

Findings

This study reveals that the association between entrepreneurial education and entrepreneurial intention is partially mediated via entrepreneurial self-efficacy. Also, the effect of entrepreneurial education on entrepreneurial self-efficacy and start-up intention was negatively moderated by family support. Furthermore, the indirect effect of entrepreneurial education on intention to form a venture via entrepreneurial self-efficacy is also negatively moderated by family support.

Originality/value

The entrepreneurial education and start-up intention linkage remain a significant gap in the entrepreneurship literature. Therefore, this research study is expected to contribute to clarifying this linkage by utilizing the SCCT to explain how entrepreneurial education contributes to entrepreneurial intention.

Details

Higher Education, Skills and Work-Based Learning, vol. 13 no. 2
Type: Research Article
ISSN: 2042-3896

Keywords

Access Restricted. View access options
Article
Publication date: 17 May 2022

Ho Xuan Thuy, Nguyen Vinh Khuong, Le Huu Tuan Anh and Pham Nhat Quyen

This study aims to investigate the association between corporate governance (CG) and the corporate social responsibility (CSR) information disclosure as well as the moderating…

1195

Abstract

Purpose

This study aims to investigate the association between corporate governance (CG) and the corporate social responsibility (CSR) information disclosure as well as the moderating role of state-ownership between CG and CSR disclosure.

Design/methodology/approach

To examine the relationship between CG and CSR disclosure, this study used the feasible general least squares and generalized method of moments method on a sample of 165 non-financial quoted companies over the 2015–2018 period, which account for about three-fourths of the Vietnamese stock exchange.

Findings

The findings suggest that enterprises with smaller board size consisting mainly of independent directors have a higher CSR disclosure level. Moreover, when the chief executive officer is concurrently the chairman of the board, the level of CSR disclosure falls. Additionally, the moderating role of state ownership enhances CSR disclosure.

Research limitations/implications

The empirical results of this study form a solid foundation for policymakers and other stakeholders’ decisions in investing or establishing policies.

Originality/value

This study provides empirical evidence on the relationship between CG and CSR disclosure in Vietnam – a developing country with no legal requirement on CSR disclosure. Moreover, this study emphasizes the moderating role of state ownership between CG and CSR disclosure, which clarifies the role of state ownership in establishing CG mechanisms.

Details

Journal of Financial Reporting and Accounting, vol. 22 no. 3
Type: Research Article
ISSN: 1985-2517

Keywords

Access Restricted. View access options
Article
Publication date: 4 July 2024

Mubashir Ali Khan, Josephine Tan-Hwang Yau, Aitzaz Ahsan Alias Sarang, Ammar Ali Gull and Muzhar Javed

This study aims to examine the extent to which information asymmetry affects investment efficiency and whether the presence of blockholders moderate this relationship.

302

Abstract

Purpose

This study aims to examine the extent to which information asymmetry affects investment efficiency and whether the presence of blockholders moderate this relationship.

Design/methodology/approach

We employ the data of firms listed on the Malaysian stock exchange for the period 2010–2018, to compose our sample. Our final sample includes the 100 largest non-financial firms based on market capitalization. Collectively, these 100 companies contribute 84.2% to the total market capitalization (MYR 1,730bn) which is representative of the whole market. The ordinary least squares regressions were used as the main estimation technique. The system generalized method of moments, two-stage least squares and propensity score matching were also used, to address potential endogeneity concerns.

Findings

We document a positively significant association of information asymmetry with investment inefficiency. These results imply that information asymmetry reduces investment efficiency and enhances sub-optimal investments. We also document that blockholders negatively moderate the relationship of information asymmetry with investment inefficiency. Further analyses show that investment inefficiency is higher in low-growth firms than in high-growth firms because of higher information asymmetry.

Research limitations/implications

We focus on Malaysia, which is a predominantly common-law Anglo-Saxon country. Graff (2008) documented that the investors are treated differently across legal systems and there are differences between the continental European and Anglo-Saxon countries. La Porta et al. (1999) documented that investors tend to have more legal protection in Anglo-Saxon countries. Therefore, our results may not be generalized to countries with different legal systems.

Practical implications

An important implication of our findings is that stakeholders may encourage the presence of blockholders and give them a voice to weaken the positive relationship between information asymmetry and investment inefficiency.

Originality/value

This study contributes to the contingency literature by investigating the moderating effect of an important governance mechanism, i.e. the presence of blockholders on information asymmetry-investment efficiency nexus. Despite being important, this moderating effect has been largely overlooked in the literature. Our study contributes by providing an understanding of how blockholders can influence investment decisions, offering insights for academics, investors and policymakers focused on improving the efficacy of investment decisions and governance structure.

Details

Journal of Applied Accounting Research, vol. 26 no. 1
Type: Research Article
ISSN: 0967-5426

Keywords

Access Restricted. View access options
Article
Publication date: 11 March 2024

Anup Kumar Saha and Imran Khan

This study aims to examine the impact of board characteristics on climate change disclosures (CCDs) in the context of an emerging economy, with a unique focus on regulatory…

567

Abstract

Purpose

This study aims to examine the impact of board characteristics on climate change disclosures (CCDs) in the context of an emerging economy, with a unique focus on regulatory influences.

Design/methodology/approach

This study analyzes longitudinal data (2014–2021) from environmentally sensitive firms listed on the Dhaka Stock Exchange, using a disclosure index developed within the Global Reporting Initiative framework. The authors use a neo-institutional theoretical lens to explore regulatory influences on CCD through board characteristics. This study uses hand-collected data from annual reports owing to the absence of an established database.

Findings

The results indicate that a larger board size, the presence of foreign directors and the existence of an audit committee correlate with higher levels of CCD disclosure. Conversely, a higher frequency of board meetings is associated with lower CCD disclosure levels. This study also observed an increase in CCD following the implementation of corporate governance guidelines by the Bangladesh Securities and Exchange Commission, albeit with a relatively low number of firms making these disclosures.

Research limitations/implications

This study contributes to the climate change reporting literature by providing empirical evidence of regulatory influences on CCD through board characteristics in an emerging economy. However, the findings may not be universally applicable, considering the study’s focus on Bangladeshi listed firms.

Practical implications

This study suggests growing pressures for diverse stakeholders, including researchers and regulatory bodies, to integrate climate change disclosure into routine activities. This study offers a valuable framework and insights for various stakeholders.

Social implications

By emphasizing the influence of good governance and sustainability practices, this study contributes to stakeholders’ understanding, aiming to contribute to a better world.

Originality/value

This study stands out by uniquely positioning itself in the climate change reporting literature, shedding light on regulatory influences on CCD through board characteristics in the context of an emerging economy.

Details

Corporate Governance: The International Journal of Business in Society, vol. 24 no. 6
Type: Research Article
ISSN: 1472-0701

Keywords

Access Restricted. View access options
Article
Publication date: 24 September 2024

Bhairab Chandra Patra and Usha Lenka

The corona virus outbreak has affected the entrepreneurial ecosystem adversely. This in particular has impacted on females. This study aims to identify the factors affecting the…

62

Abstract

Purpose

The corona virus outbreak has affected the entrepreneurial ecosystem adversely. This in particular has impacted on females. This study aims to identify the factors affecting the entrepreneurial intention (EI) of females under post-COVID adverse conditions.

Design/methodology/approach

A total of 340 articles were screened applying the preferred reporting items for systematic reviews and meta-analyses method. The EI of individuals undertaking different professional courses from three top National Institute Ranking Framework (NIRF) government institutes were then analyzed. In the expert analysis, the nominal group technique (NGT) and analytic hierarchy process (AHP) were used to identify and rank the crucial factors. Subsequently, in the exploratory analysis, a 19-item questionnaire was framed. The data was analyzed using SmartPLS 3.

Findings

Resilience, entrepreneurial education, self-concept and self-efficacy, social influence and opportunity perception were identified as critical indicators. Resilience was identified as the most significant factor. The partial least square structural equation modeling (PLS-SEM) revealed that all the factors except social influence had significant effect on the EI of females.

Research limitations/implications

This study focuses primarily on factors affecting females in India. As ecosystems and support vary by region and country, the authors suggest that this study be replicated in different regions/countries in the future.

Practical implications

The potential entrepreneurs can use this study's reference to identify the abilities they need. The government and academic institutions can have skill/training programs to enhance the effect of important factors identified in the study.

Originality/value

While there is growing research of entrepreneurship and entrepreneurial marketing post-pandemic, there are a lack of Indian studies and female entrepreneurship studies.

Details

Journal of Research in Marketing and Entrepreneurship, vol. 26 no. 4
Type: Research Article
ISSN: 1471-5201

Keywords

Access Restricted. View access options
Article
Publication date: 9 October 2024

Md. Rahat Khan, Md. Zahir Uddin Arif and Hussain Gulzar Rammal

The study aimed to develop a disruptive production process innovation model from an emerging economy's agro-based dairy farming perspective based on the case of a Bangladeshi…

55

Abstract

Purpose

The study aimed to develop a disruptive production process innovation model from an emerging economy's agro-based dairy farming perspective based on the case of a Bangladeshi model dairy farm named Central Cattle Breeding and Dairy Farm (CBBDF), Savar, Dhaka.

Design/methodology/approach

The study used qualitative in-depth interviews, participants and document observation. Around 20 key informants were purposefully selected from the case organization.

Findings

The findings propose two different models for disruptive production process innovation toward sustainable agribusiness dairy farming from an emerging economy perspective and the modified process model from traditional dairy farms to modern dairy based on the stakeholders' (such as consumers, owners, managers and government) demand.

Originality/value

This study is the first attempt to develop a disruptive production process innovation and technology model for the dairy industry and its stakeholders' responsibilities from the experience of an emerging economy. The value of the research is in identifying factors under traditional dairy farming that need to be reduced and eliminated, and the factors under society, health concerns and value-added to existing farms need to be raised as per the global industry standard.

Details

Business Process Management Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-7154

Keywords

Available. Open Access. Open Access
Article
Publication date: 21 November 2022

Anna Marrucci, Riccardo Rialti, Raffaele Donvito and Faheem Uddin Syed

This study seeks to explore the importance of digital platforms in restoring global supply chains interrupted by the coronavirus pandemic. Specifically, the research focuses on…

2297

Abstract

Purpose

This study seeks to explore the importance of digital platforms in restoring global supply chains interrupted by the coronavirus pandemic. Specifically, the research focuses on internally developed digital platforms and their potential to ensure supply chain continuity between developed and emerging markets.

Design/methodology/approach

Multiple comparative case studies have been selected for the research methodology. Eight cases concerning digital platform implementation for global SC management – four from developed countries and four from emerging markets – have been selected. The four pairs of cases represent four global supply chain mechanisms.

Findings

The results revealed that the use of internally developed digital platforms serves as a quick solution for immediate problems caused by ripple effects in global supply chain and negative environmental conditions. Digital platforms could therefore facilitate reciprocal monitoring and information exchanges between SC partners in different countries.

Originality/value

The digital platform research stream is in its early stages. Research thus far has mostly focused on externally developed digital platforms managed by an orchestrator. The platforms' usefulness in the dialogue between developed and emerging markets requires further exploration.

Details

International Journal of Emerging Markets, vol. 19 no. 9
Type: Research Article
ISSN: 1746-8809

Keywords

1 – 10 of 24
Per page
102050