Waheed Akhter, Vasileios Pappas and Saad Ullah Khan
In this paper, we aim to assess insurance demand across selected Asian and OECD countries during the period of the global financial crisis.
Abstract
Purpose
In this paper, we aim to assess insurance demand across selected Asian and OECD countries during the period of the global financial crisis.
Design/methodology/approach
We collected data from 55 emerging Asian and OECD countries during the period of the global financial crisis. Our methodology relies on panel regressions. Separate models are run for the Asia/OECD economies and a follow-up distinction between high/low-income regions is also made.
Findings
We find that global financial crisis affects negatively the general insurance demand particularly in high-income region. Higher dependency ratio in Asia tends to decrease insurance demand, whereas education in case of Asia positively influences insurance demand indicating that higher literacy rate can be helpful to capture the potential customers. Our results further reveal that life insurance is an important driver for insurance demand in OECD countries, whereas general insurance demand is higher in the Asian economies.
Research limitations/implications
A limitation of this study is that data sets employed do not differentiate between different life and general insurance products.
Practical implications
This study is helpful for regulators, policymakers and insurance providers to evaluate, assess and monitor insurance demand in relevant countries.
Originality/value
This is one of the pioneering studies that have assessed insurance demand among emerging Asian and OECD countries during the period of the global financial crisis.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-08-2019-0523
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Emmanuel Mamatzakis, Christos Alexakis, Khamis Al Yahyaee, Vasileios Pappas, Asma Mobarek and Sabur Mollah
This paper aims to investigate the impact of corporate governance practices on cost efficiency and financial stability for a sample of Islamic and conventional banks. In the…
Abstract
Purpose
This paper aims to investigate the impact of corporate governance practices on cost efficiency and financial stability for a sample of Islamic and conventional banks. In the analysis, the author uses a set of corporate governance variables that include, the board size, board independence, director gender, board meetings, board attendance, board committees, chair independence and CEO characteristics.
Design/methodology/approach
The author uses corporate governance data of Islamic banks that is unique in this field. In the analysis, the author also uses stochastic frontier analysis and panel vector autoregression models to quantify long-run and short-run statistical relationships between the operational efficiency of Islamic Banks and corporate governance practices.
Findings
According to the results, Islamic and conventional banks exhibit important differences in the effects of corporate governance practices on cost efficiency and financial stability. Results show that with a blind general adoption of corporate governance practices, Islamic banks may suffer a loss in their value since the adoption of the third layer of binding practices, over and above the already existing ones, imposed by the Sharia Board and the Board of Directors, may lead to cumbersome business operations. This conclusion is of importance to Islamic Banks since they struggle to survive in a very competitive international environment.
Practical implications
The author believes that the results may be of a certain value to regulators, policymakers and managers of Islamic banks. Based on the results, the author postulate that Islamic banks should select carefully international corporate governance practices.
Social implications
Islamic banks should not adopt additional third layer of binding practices as that would result lower performance and instability that would be damaging for the economy
Originality/value
This study employs a unique sample of Islamic banks that includes corporate governance data hand collected. Our findings of the corporate governance impact on Islamic banks performance and stability are therefore unique in the literature.
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Vasileios Georgiadis, Lazaros Sarigiannidis and Georgios Theriou
This paper aims at identifying critical components of leading change through relations of relevance with platonic philosophy. During this process, well-known aspects of change…
Abstract
Purpose
This paper aims at identifying critical components of leading change through relations of relevance with platonic philosophy. During this process, well-known aspects of change leadership are detected, but interpreted differently. Based on this relevance, a seven-stage tripartite model is proposed, in order to facilitate change implementation in the business world.
Design/methodology/approach
Contemporary trends in leading change are reviewed and enriched with platonic insights. A synthetic analysis is attempted, in which philosopher stochasticity and discernment validates modern synergetic and anthropocentric approaches to the field of change leadership, featuring key behavioral and perceptual characteristics, emerging during change process.
Findings
As the process of change is highly dependent on human behavior, Plato grants an enriched approach of its origins and causal causes. Therefore, key change factors are not only discussed in the light of his worldview, but also upgraded through the distillation of applicable ideas, summarized in the proposed three phase model.
Practical implications
The proposed tripartite model of leading change can function as a powerful guide of designing and successfully implement organizational change.
Originality/value
The screening of specific insights from platonic works in leading change conveys an alternative, more “poetic”, yet effectively flexible attitude endorsed and incorporated into a potentially applicable model.
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Tania Pantazi and Vasileios Vlachos
The contribution of the Greek transport industry to the country's GDP has been well over the EU average. The industry is of vital importance to the efficient operation of local…
Abstract
The contribution of the Greek transport industry to the country's GDP has been well over the EU average. The industry is of vital importance to the efficient operation of local, national, and international economic transactions and is responsible for almost half of the value added to the Greek economy by its tourism industry. Despite its significant contribution to Greek economy, the industry is facing challenges and has not achieved its full potential. This chapter provides an overview of the transportation and storage industry and examines its general institutional framework and its overall performance, before focusing on specific policy issues for each transport mode, namely air, rail, road, and maritime transport.