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This paper aims to investigate the link between agency costs mitigation via three levels of rights protection (minority rights protection, enforcing contracts, resolving insolvency issues) provides the propitious climate for financing investment opportunities around the world.

We use Bartlett’s three-group method to stratify countries based on how well they protect investors as measured by the scores provided in the Doing Business dataset developed by the world bank for 189 countries. We then test a variety of independent hypotheses that the alleviation of agency costs via three levels of protection (minority investors’ rights, contract enforcement, resolving insolvency issues) is associated with better access to credit via the banking system, better valuation of listed firms via the stock market and higher investment and growth.

Our findings support Agency Theory which explains why the absence of legal protection of external investors leads to stock markets and financial institutions failing to fulfill their role of financing the economy.

The policy implication from this study indicates that countries ought to (1) develop legislation that protects investors’ rights, (2) improve the quality of their judicial system in terms of enforcing the legislation and (3) build the framework for resolving disputes during insolvency as these are important ingredients for a developed financial system.

We use the World bank dataset and a new methodology to quantify the significance of the relationship between minority rights protection, ineffective enforcement, lack of bankruptcy laws and access to firm financing via the banking sector and the stock market. It provides new evidence that the quality of the judicial system in a country matter for firms’ ability to raise financing and enhance value creation.

本文旨在探討一個假設，該假設為透過三級別權利保障（保障少數群體的權利、執行合同、解決破產問題）的代理成本緩減會為世界各地的金融性投資機會提供良好的氣侯。

我們以巴特利特（Bartlett）的三組法把國家分組，分組方法是基於該國家保障投資者的程度，而保障程度是以世界銀行為189個國家而制定的營商資料集內提供的評分來衡量的。我們把國家分組後，便就各樣的獨立假設進行測試。這些假設是：透過三級別保障（保障少數股權投資者的權利、合同的執行、解決破產問題）的代理成本緩減是連繫於透過銀行系統而產生的更佳信貸途徑，透過股市的更佳上市公司估值及更高的投資和增長。

研究結果証實了代理理論，該理論說明為何當外來投資者沒有得到法律保障時，結果會導致股票市場和金融機構不能履行其為經濟提供資金的角色。

本研究具有政策方面的意義，因研究顯示了國家應該：（1）設立保障投資者權利的法律；（2）在執行法律方面，改善其司法系統的素質；（3）建立解決破產時爭議的體系。這些是應該做的，因它們是一個已發展的金融體制的重要元素。

本文強調了一個保障投資者權利的法律環境所需的三個特定要素：對少數股權投資者權利的保障、有效的執行、有效的破產法律及透過銀行部門和股票市場而取得公司融資。這提供新的證據, 證實這三級別權利保障對公司籌集資金及提高價值創造的能力而言至為重要。

In the era of climate change, the need to ensure that buildings are energy efficient cannot be overemphasised. Studies have shown that building retrofitting can improve energy efficiency (EE) and sustainability. There may be hindrances to retrofitting for energy efficiency. Extant literature and policy documents on Zimbabwe suggest a better framework to help stakeholders manage their existing buildings by addressing challenges and policy inconsistencies. This study appraises and critically discusses the challenges facing retrofitting Zimbabwe’s buildings for energy efficiency.

The research adopted a quantitative research design using a questionnaire survey distributed to the respondents knowledgeable in building retrofitting and energy efficiency in Zimbabwe. The data were analysed through various statistical approaches (descriptive and inferential). The inferential tests include the Shapiro–Wilk test, Kruskal–Wallis H-test, exploratory factor analysis and heterotrait-monotrait ratio analysis to develop the structural equation model that validated the challenges for retrofitting buildings.

The results revealed the challenges of retrofitting buildings for EE in Zimbabwe, and a structural equation model was developed that clustered the key challenges into three main groups. This includes inadequate finance to invest in energy, outdated building by-laws and the unavailability of raw materials to achieve energy efficiency.

By appraising the challenges facing retrofitting buildings for energy efficiency in Zimbabwe, this study provides insights into the contextual factors that can enhance energy efficiency and sustainability in other developing countries. The study’s practical implications will positively impact the Green Building Council and other stakeholders interested in improving energy efficiency in the built environment.

The purpose of this paper is to study the impact of lead users (LUs) on innovation success by proposing and validating an integrative model that links LUs, innovation success and knowledge sharing (KS) variables.

The authors research is quantitative in nature and data were collected through a survey conducted among 30 information technology Tunisian companies. The authors preliminary analysis was explored using the “SPSS” software and processed through exploratory factor analysis and regression analysis methods.

Results showed that LUs who possess advanced skills and valuable knowledge can contribute to enhance new successful innovations, and hence, enable companies to gain short and long-term profits. Besides, the authors confirmed that the impact of LUs on innovation success is mediated by the “KS” behavior.

An integrative framework that links LUs, innovation success and a third variable called KS is presented to see beyond the intended importance of this type of user regarding the development of new innovations.

The paper offers new insights to the topic of LUs by emphasizing the role of “KS” variable in strengthening the LUs – innovation success relationship.

This study aims to comprehensively identify supply chain risks and their causes, the factors influencing supply chain management and techniques to successfully mitigate and control supply chain risks in construction projects. This study developed a comprehensive framework showing various supply chain risks and how these risks that influence project execution are systematically identified and managed for the overall construction project success.

The research conducted was characterised by its descriptive, exploratory and quantitative nature. The collection of quantitative data was conducted by means of structured online questionnaires. The sample consisted of 205 construction project professionals who were selected randomly. This group included individuals with various roles in the construction industry, such as project managers, civil/structural engineers mechanical engineers, risk managers, architects, quantity surveyors, electrical engineers, construction managers, health, safety and environment managers, estate managers and other professionals. All participants were actively involved in construction projects located in the Gauteng province of South Africa. The data was analysed, using descriptive statistical methods, including factor analysis, reliability assessment and calculations of frequencies and percentages.

The result showed that predictable delivery, funding schedule, inventories, balanced demands, production capabilities, timely procurement, construction supply chain management coordination, delivery reliability, the proximity of suppliers, identification of supply chain risks in the conceptualisation stage of a project, identification of supply chain risks in the planning stage of a project, identification of supply chain risks in the execution stage and the reconciliation of material flows of the subcontractors with the contractors were identified as the key factors that influenced the construction supply chain management the most. The result also showed that subcontractor’s negative attitudes towards supply chain management, procurement delays, imbalanced demands, clients’ negative attitudes towards other project stakeholders, unpredictable delivery reliability, disorganised construction supply chain management approach, delayed funding, low delivery reliability, poor inventories, poor construction supply chain co-ordination, suppliers’ negative attitudes towards supply chain management and when the material flows of the subcontractors with the contractors are not reconciled were identified as the factors that have the greatest impacts on construction supply chain risks management.

For future research, it is recommended to incorporate fourth industrial revolution) such as machine learning prediction models and algorithms, Artificial intelligence and blockchain to identify and manage supply chain, supply chain risks and project stakeholders involved in supply chain in construction projects. Green construction or sustainable construction was not fully covered in this study. The findings will be beneficial for sustainable construction projects in developing countries for sustainability, although it did not extensively cover green buildings and related risks.

Supply chain risk is one of the major challenges facing the construction industry because construction projects are complex by nature involving a lot of activities and participants with different responsibilities and tasks therefore it is highly recommended to implement the proposed frameworks in this paper from the conceptualisation stage to the execution stage, carefully identifying parties involved in supply chain, supply chain management, stakeholders, tasks, activities, responsibilities and supply chain risks generated as a result of the interactions between stakeholders involved in supply chain management and coordination to realise project objectives. The findings will be a foundation for identifying and managing supply risks in sustainable buildings in developing countries.

Supply chain management is crucial in every enterprise. Managing supply chain risks is a major aspect of risk and disaster management and this implies that supply chain excellence is achievable by building communication, trust and mutual objectives, no blame culture, performance measurement, constant improvement and partnering.

The implementation of construction supply chain risk management framework involves assessing the impacts of these supply chain risks on the objectives of construction projects with respect to time, cost, safety, health, environment, stakeholders, financial performance, client satisfaction and quality.

The Government of Korea institutionalized the World Korean Business Convention (WKBC) and the World Korean Business Network (WKBN) to promote Korean diaspora entrepreneurs’ investment in the homeland. Few studies have examined the effectiveness of the WKBC and WKBN and the critical variables affecting them. This paper aims to fill this gap by exploring important variables affecting Korean diaspora entrepreneurs’ investment in the homeland. It also seeks to examine the relationships among these variables to inquire upon a set of critical questions pertaining to Korean diaspora entrepreneurs’ investment in the homeland including the effectiveness of the WKBC and WKBN.

To achieve the above purpose, critical variables influencing Korean diaspora entrepreneurs’ investment in the homeland were identified and four hypotheses that include the inquiries pertaining to the effectiveness of the WKBC and WKBN were developed in terms of those variables. The hypotheses were empirically tested using the survey data gathered from the participants of the annual WKBC.

The current research found that Korean diaspora entrepreneurs’ evaluation of the investment climate in the homeland was not favorable. The WKBC was positively evaluated by Korean diaspora entrepreneurs willing to make investment, There is discrepancy between expectations of the WKBN’s target group (i.e. Korean diaspora entrepreneurs willing to make investment) and its performance for the group, and there is a difference between ascending and descending Korean diaspora entrepreneurs in assessment of investment value of the homeland.

A majority of studies on diaspora entrepreneurship and development have so far cast light on ascending diaspora entrepreneurs while neglecting descending diaspora entrepreneurs. In this regard, the most interesting finding of the current study to both researchers and policymakers may be the fact that descending Korean diaspora entrepreneurs assess the investment value of the homeland differently from ascending Korea diaspora entrepreneurs. The finding calls for further research on causes of the difference, and different natures of descending diaspora entrepreneurs compared to those of ascending diaspora entrepreneurs. Such research will enable policymakers to formulate and implement effective strategic diaspora policies that take the differences into consideration.

This study aims to provide a response to the commentary by Yuan on the paper “Marketing or Methodology” in this issue of EJM.

Conceptual argument and statistical discussion.

The authors find that some of Yuan’s arguments are incorrect, or unclear. Further, rather than contradicting the authors’ conclusions, the material provided by Yuan in his commentary actually provides additional reasons to avoid partial least squares (PLS) in marketing research. As such, Yuan’s commentary is best understood as additional evidence speaking against the use of PLS in real-world research.

This rejoinder, coupled with Yuan’s comment, continues to support the strong implication that researchers should avoid using PLS in marketing and related research.

Marketing researchers should avoid using PLS in their work.

This rejoinder supports the earlier conclusions of “Marketing or Methodology,” with additional argumentation and evidence.

The purpose of this study is to investigate the concept of vicarious moral cleansing and scrutinize whether unethical behavior of leaders initiate moral cleansing in subordinates or not. This study also highlights a boundary condition under which employees are motivated to cleanse their moral self-image through increased organizational citizenship behaviors and decreased counterproductive work behaviors.

The study is quantitative based on hypothesis testing. By adopting convenience sampling technique, employees working at all managerial levels of service sector organizations were asked to fill out the questionnaires. Being a time-lagged study, data for independent variable (unethical leadership) and moderator (relational self-construal) were collected at T1, data for mediator (moral self-image) were collected at T2 and data for outcomes (OCBs, CWBs) were collected at T3 from same respondents. To rule out the possibility of common method bias and social desirability bias, a multi-wave design was adopted and respondents were asked to provide unique keys/IDs instead of their names.

This study investigated the impact that unethical leaders impose on employee self-concept. Moreover, this study also explored the motivational tendencies of moral self-image. Findings suggest that employees' desirable or undesirable behaviors against leader are dependent upon the perceptions related with their own role, self-image and perception of leader's integrity and intentions. Leader's unethicality is perceived threatening for their own moral self-image and they deal with it constructively. This study has laid the foundation for presence of vicarious moral cleansing in organizational setup, and it is advised that researchers must investigate this phenomenon in different settings to provide useful insights.

Due to lack of resources, employing a pure longitudinal research design was not feasible, and therefore a time-lagged research design was used to gather data from only two cities of Pakistan. However, authors believe that a longitudinal research design, with data collection from a larger sample, will provide more fine-grained results. Secondly, use of perceived leader's integrity scale to measure unethical leadership is another limitation. Although the authors tried to address this issue by conducting an EFA and adopting only suitable items, yet a new scale which is able to measure the true essence of unethical leadership ought to be developed.

Use of moral self-image as an indicator of moral cleansing is an additional contribution of this study, as previous studies used levels of guilt as driving force behind moral cleansing and compensatory cleansing. Most of the studies on unethical leadership as well as moral cleansing took place in the Western context and scholars' stress that culture can substantially influence outcomes of these constructs. Thus, this study extends the literature on moral cleansing and moral self-regulation by developing and testing a model in cultural settings of Pakistan.

本研究擬探討間接感受到的道德清洗 (以下簡稱間接道德清洗) 這個概念；研究亦會仔細審視領袖的不道德行為會否在其下屬間引起道德清洗。就此而言，本研究亦強調了一個邊界條件，在這邊界條件之下，僱員透過組織公民行為的增加，以及為工作目標帶來負面影響的工作行為的減少得到激勵，進而淨化他們的道德自我形象。

本研究為一個基於假設檢定的量性研究；研究採用任意抽樣方法而進行。在服務業機構內不同管理階層工作的僱員被邀回答問卷；由於這是一個時滯研究，即使是同一的答覆者，IV (不道德的領導) 和仲裁人(關係型自我建構)的數據在T1收集，調解員 (道德自我形象) 的數據在T2收集，結果 (OCBs，CWBs) 的數據在T3收集，為了排除共同方法偏差和社會期許誤差的出現，研究採用多波浪設計，而且，答覆者必須提供獨一無二的密鑰或身份證明，而不是提供他們的名字。

本研究探討了不道德的領袖對僱員自我概念的影響；研究亦探索了可能推動道德自我形象的因素。研究結果暗示、僱員會做對領袖而言可取的行為與否，全視乎他們如何看待自己的角色和自我形象，也視乎他們對領袖的誠信和動機有甚麼看法。領袖若不道德，這會被認為會對僱員的道德自我形象做成威脅，在這情況下，僱員會積極地應付這個威脅。本研究為在組織架構內存有間接道德清洗這個觀點打下基礎。今後的研究學者或許應就不同的環境、對這個現象進行探討和研究，以使我們能更深刻地瞭解這個課題。

從前的研究均採用內疚的程度、作為道德清洗和補償清洗背後的推動力 (Liao et al., 2018) 。本研究另外的貢獻在於採用了道德自我形象、作為道德清洗的指標。以前關於不道德領導以及道德清洗的研究，大多以西方國家為背景。研究學者均強調文化因素會很大程度地影響這些觀念帶來的結果；因此，本研究透過設計一個以巴基斯坦文化為背景的模型、並對其進行測試、來擴展有關道德清洗及道德自我調節的文獻。

The coronavirus disease 2019 (COVID-19) epidemic has caused stress for everyone and impacted the lives of people globally. Such stress increases troubles for the employees. Therefore, the aim of the paper is to identify symptoms of health problems that employees face during the COVID-19 epidemic. Also, the aim of the paper is to examine if there are statistically significant differences in the physical, emotional and behavioral symptoms of health problems among employees before the COVID-19 epidemic and employees during the COVID-19 epidemic.

The research is based on a survey of 950 employees in Slovenian companies. The factor analysis and the t-test for two independent samples were used to test the hypotheses of the research.

The results show that physical, emotional and behavioral symptoms of health problems of employees during the COVID-19 epidemic are intensified as compared to the before COVID-19 epidemic era.

The results highlight the measures with which companies can reduce the problem of different symptoms of employees during the COVID-19 epidemic. The results can be useful for employers and for managers who want to create an adequate working environment for employees during the COVID-19 epidemic.

Sandbag building technologies (SBTs) have been offered as a cost-effective and sustainable alternative building technology (ABT) capable of accelerating house construction in South Africa, but its acceptance remains low. However, knowledge about how to effectively improve SBT social acceptance is limited. This study aims to develop and prioritise SBT social acceptability strategies towards providing a comprehensive framework for the successful deployment and widespread adoption of sandbag technology.

This study used a quantitative research strategy that included a literature review and a structured questionnaire survey of 228 ABT professionals and stakeholders in the South African housing industry. The study statistically analysed 13 strategies for the social acceptance of SBT.

The analysis showed that the top three strategies include the availability of sandbag demonstration projects in all provinces, the approval of a sandbag building code and the availability of standard design methods for earthbags. A factor analysis clustered the 13 strategies into Stakeholders integration and policy formation, Effective education and knowledge sharing and Grassroots advocacy and incentives.

The current study’s findings provide a broad framework for the effective implementation and wide acceptance of sandbag technology in housing projects. It offered certain best practices that policymakers and practitioners might use to promote ABT and SBT societal acceptability.

To the best of the authors’ knowledge, the study represents the first and only attempt to investigate the viewpoints of experts and housing market stakeholders in South Africa regarding sandbag technology social acceptance strategies and contributes to the social acceptance body of knowledge in ABT and SBT.

We illustrate the potential of diaries for advancing scholarship on organization studies and grand challenges. Writing personal diaries is a time-honored and culturally sanctioned way of animating innermost thoughts and feelings, and embodying experiences through self-talk with famous examples, such as the diaries written by Anne Frank, Andy Warhol, or Thomas Mann. However, the use of diaries has long been neglected in organization studies, despite their historical and societal importance. We illustrate how different forms of analyzing diaries enable a “deep analysis of individuals’ internal processes and practices” (Radcliffe, 2018) which cannot be gleaned from other sources of data such as interviews and observations. Diaries exist in different forms, such as “unsolicited diaries” and “solicited diaries” and have different purposes. We evaluate how analyzing diaries can be a valuable source to illuminate the innermost thoughts and feelings of people at the forefront of grand challenges. To exemplify our arguments, we draw on diaries written by medical professionals working for Doctors Without Borders as part of our empirical research project conducted in extreme contexts. We show the value of unsolicited diaries in revealing people’s thought world that is not apprehensible from other modes of communication, and offer a set of practical guidelines on working with data from diaries. Diaries serve to enrich our methodological toolkit by capturing what people think and feel behind the scenes but may not express nor display in public.