Thomas Flamini, Natasha R. Matthews, George S. Castle and Elliot M. Jones-Williams
The purpose of this paper is to investigate perceptions towards a career in psychiatry among medical students and psychiatrists and identify how recruitment into the specialty may…
Abstract
Purpose
The purpose of this paper is to investigate perceptions towards a career in psychiatry among medical students and psychiatrists and identify how recruitment into the specialty may be improved.
Design/methodology/approach
This study locally compares medical student and psychiatric doctor responses to a structured online survey and structured interviews with key managerial figures in the Humber NHS Foundation Trust.
Findings
Comparison across two main areas (pre-decision exposure to psychiatry and reasons for considering a psychiatric career) found that both students and doctors were influenced to make a choice about a career in psychiatry during medical school. Medical students found compatibility with family life to be more important when considering psychiatry, whereas doctors cited content-based reasons as significant pull factors. Stigma and fear of being harmed deterred some students from choosing a career in psychiatry. Structured interview responses reiterated the importance of pre-medical school and undergraduate mentorship in bolstering future recruitment to psychiatry.
Practical implications
Medical students perceive certain career issues differently to their postgraduate counterparts. Widening the content-based appeal of psychiatry and optimising the medical school experience of the specialty via varied and high-quality placements may be a key step towards tackling the national shortfall in qualified psychiatrists.
Originality/value
This is the first published study comparing medical student and psychiatric doctor perceptions of a career in psychiatry.
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Alaa Salhani and Sulaiman Mouselli
The choice between different financing sources is governed by a number of finance theories, particularly, trade-off theory and pecking order theory. However, the special…
Abstract
Purpose
The choice between different financing sources is governed by a number of finance theories, particularly, trade-off theory and pecking order theory. However, the special characteristics of Islamic finance, which forces the exclusion of conventional bonds, leave Islamic banks with limited number of alternatives. Tier 1 sukuk are distinguished type of sukuk that combines the features of conventional bonds and stocks. This paper aims to answer the following question: Does the issuance of Tier 1 sukuk positively affect Islamic banks’ profitability or is their impact concentrated on enhancing Islamic banks’ capital adequacy ratios?
Design/methodology/approach
The data set used in this study consists of all United Arab Emirates (UAE) Islamic banks that issued Tier 1 sukuk over the period 2010–2020. Pooled and fixed effects panel regressions of Tier 1 sukuk and other control variables on three proxies of Islamic banks’ profitability were run. The selection of fixed-effect model is based on Hausman test, redundant fixed effects and likelihood ratio test.
Findings
This study reveals novel findings. Tier 1 sukuk increases both earnings per share (EPS) and capital adequacy ratios. That is, this study finds that there is a positive significant impact of Tier 1 sukuk on EPS, which indicates that issuing more Tier 1 sukuk will generate more return to shareholders in terms of higher EPS because of the lower cost of Tier 1 sukuk compared to equity. However, this study finds that there is an insignificant impact of Tier on sukuk on both return on assets and return on equity. Hence, it is concluded that Tier 1 sukuk does not increase the risk appetite of UAE Islamic banks.
Research limitations/implications
Tier 1 sukuk is a niche instrument that has been recently used by Islamic banks. Hence, there are a limited number of Islamic banks that have issued this type of sukuk and consequently limited number of observations. Therefore, with the increased use of this instrument, a larger set of data will be available for examination. In addition, future research could examine the relationship between issuing Tier 1 sukuk and profitability in other countries where such sukuk have loss absorption feature. The impact of other types of sukuk, such as liability sukuk, on Islamic banks’ profitability could also be an interesting field of study.
Practical implications
This study recommends Islamic banks to issue more Tier 1 sukuk to enhance their profitability indicators while meeting Basel III accord. This study also recommends investors to purchase the stocks of Islamic banks that issue Tier 1 sukuk because they are able to offer them higher EPS. The authors advise the UAE regulators to allow Islamic banks to issue Tier 1 sukuk with loss absorption feature to enable Islamic banks engage in more risky activities that usually provide larger profits. This study also suggests that the Islamic Financial Services Board (IFSB) reclassifies Tier 1 sukuk, with loss absorption feature, within the highest quality of capital, common equity Tier 1, to encourage Islamic banks to issue this type of sukuk, especially Basel III accord and IFSB 15 require higher ratios of common equity Tier 1 to risk-weighted assets.
Originality/value
This research contributes to the existing literature in two ways. First, it adds to the existing literature on the impact of sukuk on Islamic banks profitability. That is, contrary to prior studies that merely investigate the impact of issuing ordinary sukuk on profitability, this study explores a distinguished type of sukuk, that is Tier 1 sukuk, that has been surprisingly ignored so far. Second, this study shows that it is not only capital adequacy ratios that have improved as a result of issuing Tier 1 sukuk but also Tier 1 sukuk reduce the cost of capital of UAE Islamic banks which has been reflected in a higher profitability proxied by EPS. Hence, these sukuk serve a dual function for Islamic banks by improving both capital adequacy and profitability ratios.
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Giulia Flamini, Luca Gnan and Massimiliano Matteo Pellegrini
This paper explores the field of human resource management (HRM) in family firms, assessing the evolution of this research through a four-domain model that reflects the…
Abstract
Purpose
This paper explores the field of human resource management (HRM) in family firms, assessing the evolution of this research through a four-domain model that reflects the relationships between cognitions, actions and performances associated with organizational choices.
Design/methodology/approach
The authors have performed a bibliometric review of 363 peer-reviewed papers from over the past four decades (1976–2016) in order to provide activity indicators for the overall phenomenon and systemize the entire body of literature into specific HRM strategy domains or practices, using a double-entered pivot table.
Findings
The study framework provides managerial implications with regard to the HRM decisions made when attempting to improve human capital in family firms. Accordingly, the authors view HRM-centered decisions and strategies in family firms as ways to scan for and appraise contingent dimensions, make sense of the current environment, make good choices and achieve high performance levels.
Originality/value
The authors offer this four-domain theoretical scheme as a framework through which the field can be interpreted, proposing some potential avenues for moving forward.
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José Antonio Clemente-Almendros and Tomás González-Cruz
This paper investigates whether board composition, a family chief executive officer (CEO) and the firm's managerial capabilities affect proactive tax management in family small…
Abstract
Purpose
This paper investigates whether board composition, a family chief executive officer (CEO) and the firm's managerial capabilities affect proactive tax management in family small and medium-sized enterprises (SMEs). The main statement is that the professionalisation of corporate government and management practices explains the difference in tax avoidance behaviour in closely held family SMEs.
Design/methodology/approach
Using the 2012 Spanish thin-capitalisation rule as a quasi-experiment, the authors estimate panel regressions with firm fixed effects and robust standard errors. This model represents a triple difference-in-differences combined with propensity score matching (PSM-DID).
Findings
Analysis shows that having a high proportion of non-family board members and a high endowment of managerial capabilities lead to tax liability optimisation in family SMEs. Conversely, familial boards and family SMEs with low managerial capabilities lack enough expertise to weigh the costs of tax avoidance over the benefits, resulting in a reluctance to engage in tax optimisation behaviours. Alike, results show no significant relation between CEO's family affiliation and tax management behaviour.
Practical implications
When implementing fiscal policies, the specific needs of family SMEs should be considered, and how these needs interact with corporate governance and managerial mechanisms. Moreover, policymakers need a deeper understanding of family SMEs in order to develop policies appropriate to their characteristics. A more comprehensive knowledge of how family firm heterogeneity affects corporate decisions, such as indebtedness and fiscal decisions, may improve public policies.
Originality/value
This study addresses the issue of tax behaviour in family SMEs in a particular event that implies a specific logic to weigh the pros and cons of each alternative: reducing debt or paying more taxes. This study’s conclusions are based on a model that deals with potential endogeneity problems, which avoids bias in the findings.
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Giulia Flamini, Chiara Morelli, Luca Gnan and Enrico Cori
This study tries to free women from the “invisible role” prison and understand the different managerial goals and styles adopted by males and females in family small and medium…
Abstract
Purpose
This study tries to free women from the “invisible role” prison and understand the different managerial goals and styles adopted by males and females in family small and medium enterprises (SMEs) in managing employees. In particular, this paper grasps the complexity of the relationship between women’s leadership positions and configurational human resource management (HRM) practices in family SMEs.
Design/methodology/approach
The authors use the qualitative fuzzy set comparative analysis (fsQCA) on 623 small and medium Italian family businesses to explore women’s contributions and impacts on adopting HRM practices and business performance.
Findings
The findings confirm that gender-specific leadership styles influence the adoption of distinct bundles of HRM practices and ultimately affect organizational performance in family SMEs. Indeed, women in the family SME social context, to meet certain gender expectations, are more likely to implement steward-oriented HRM practices. This reinforces the role of women as key players in improving organizational performance by adopting people-centered HRM practices that promote employee satisfaction and retention.
Originality/value
Using the fsQCA analysis and the gender theory, family business and HRM literature, the paper investigates the role of women in Italian family SMEs as CEOs or HR managers in implementing HR management practices to achieve good organizational performance.
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Mahmoud Awad, Malick Ndiaye and Ahmed Osman
Cold supply chain (CSC) distribution systems are vital in preserving the integrity and freshness of transported temperature sensitive products. CSC is also known to be energy…
Abstract
Purpose
Cold supply chain (CSC) distribution systems are vital in preserving the integrity and freshness of transported temperature sensitive products. CSC is also known to be energy intensive with a significant emission footprint. As a result, CSC requires strict monitoring and control management system during storage and transportation to improve safety and reduce profit losses. In this research, a systematic review of recent literature related to the distribution of food CSC products is presented and possible areas to extend research in modeling and decision-making are identified.
Design/methodology/approach
The paper analyzes the content of 65 recent articles related to CSC and perishable foods. Several relevant keywords were used in the initial search, which generated a list of 214 articles. The articles were screened based on content relevance in terms of food vehicle routing modeling and quality. Selected articles were categorized and analyzed based on cost elements, modeling framework and solution approach. Finally, recommendations for future research are suggested.
Findings
The review identified several research gaps in CSC logistics literature, where more focused research is warranted. First, the review suggests that dynamic vehicle modeling and routing while considering products quality and environmental impacts is still an open area for research. Second, there is no consensus among researchers in terms of quality degradation models used to assess the freshness of transported cold food. As a result, an investigation of critical parameters and quality modeling is warranted. Third, and due to the problem complexity, there is a need for developing heuristics and metaheuristics to solve such models. Finally, there is a need for extending the single product single compartment CSC to multi-compartment multi-temperature routing modeling.
Originality/value
The article identified possible areas to extend research in CSC distribution modeling and decision-making. Modified models that reflect real applications will help practitioners, food authorities and researchers make timely and more accurate decisions that will reduce food waste and improve the freshness of transported food.
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Kent K. Alipour, Dennis Barber, John H. Batchelor, Whitney Peake, Seth Jones and Tim McIlveene
Through a resource-based theoretical lens, we elucidate conditions under which family business culture (FBC) amplifies the positive effects of high-performance work systems (HPWS…
Abstract
Purpose
Through a resource-based theoretical lens, we elucidate conditions under which family business culture (FBC) amplifies the positive effects of high-performance work systems (HPWS) intensity and exacerbates the negative effects of low human capital uniqueness (HCU) on firm performance. By doing so, we answer the call for more research on the conditions under which FBC influences firm outcomes.
Design/methodology/approach
The present study sampled 226 small business owners across the USA, who provided their responses to online survey questions. Hypotheses were assessed via path analysis in MPlus 8.8, using maximum likelihood estimation.
Findings
FBC, HPWS intensity and HCU were positively associated with firm performance. Further, the HPWS intensity – firm performance and HCU – firm performance links were moderated by FBC. Specifically, increased levels of HPWS intensity were associated with greater firm performance when FBC was high, and firms with low levels of HCU tended to have particularly decreased levels of firm performance when FBC was low.
Research limitations/implications
Consistent with the resource-based view, firms' unique resources and competitive advantage may be tied to the extent to which they have an established FBC. High levels of FBC, which are characterized by shared values, loyalty, proud involvement and care toward the organization, can play a significant role in enhancing organizational performance. Family business leaders should prioritize cultivating an enhanced FBC alongside investments in HPWS and unique human capital.
Originality/value
This study contributes to understanding the theoretical underpinnings of FBC and its relationship with firm performance by examining FBC’s interaction with HPWS intensity and HCU. We highlight FBC as a valuable intangible resource that can enhance or diminish the effectiveness of other strategic resources in family firms, further extending the application of resource-based view theory in family business research.
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Rozaimah Zainudin, Nurul Shahnaz Ahmad Mahdzan and Ee Shan Leong
This study is an exploratory study investigating firm-specific internal factors that influence the profitability performance of selected life insurance firms in eight Asian…
Abstract
Purpose
This study is an exploratory study investigating firm-specific internal factors that influence the profitability performance of selected life insurance firms in eight Asian countries (China, Hong Kong, Taiwan, Singapore, Japan, South Korea, Thailand and Malaysia) from 2008-2014. This paper aims to focus on internal rather than external factors based on the resource-based view suggesting that the internal resources of a firm are key to gaining competitive advantage.
Design/methodology/approach
The authors used panel data estimation model to test our six hypotheses on these eight selected countries for the period between 2008 and 2014.
Findings
A random effect model reveals that size, volume of capital and underwriting risk are significantly related to the profitability of Asian life insurance firm, measured as return on assets. Premium growth, asset tangibility and liquidity are insignificant predictors of the profitability performance of these life insurance firms.
Practical implications
Three implications of this study are that life insurance firms need to proactively tap new business opportunities by attracting younger generation customers via e-marketing technologies; secure larger capital base to finance their market expansion strategies; and focus on intangible resources such as goodwill, brand equity and reputation.
Originality/value
This study contributes to the literature by conducting an exploratory regional-based panel study of Asian life insurance firms to find common factors that contribute towards profitability. The study is conducted on a collective sample of Asian life insurance firms based on the premise that the firms included in the sample engage in cross-border activities and share the same international financial reporting standards. These commonalities allow us to treat the firms jointly in a somewhat similar Asian macroeconomic environment.