scholarly journals Impact of COVID-19 on the trade of goods and services in Spain

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Asier Minondo
Keyword(s):  
Negative Impact ◽  
The European Union ◽  
Firm Level ◽  
Health Crisis ◽  
Content Type ◽  
Goods And Services ◽  
Containment Measures ◽  
Trade Of Services ◽  
The Impact

Purpose This paper aims to analyze the impact of COVID-19 on the trade of goods and services in Spain. Design/methodology/approach This paper uses monthly trade data at the product, region and firm level. Findings The COVID-19 crisis has led to the sharpest collapse in the Spanish trade of goods and services in recent decades. The containment measures adopted to arrest the spread of the virus have caused an especially intense fall of trade in services. The large share of transport equipment, capital goods, products that are consumed outdoors (i.e., outdoor goods) and tourism in Spanish exports has made the COVID-19 trade crisis more intense in Spain than in the rest of the European Union. Practical implications The nature of the collapse suggests that trade in goods can recover swiftly when the health crisis ends. However, COVID-19 may have a long-term negative impact on the trade of services that rely on the movement of people. Originality/value It contributes to understand how COVID-19 has affected the trade in goods and services in Spain.

scholarly journals A study of serious case reviews between 2016 and 2018: what are the key barriers for social workers in identifying and responding to child neglect?

2020 ◽  
Vol 15 (1) ◽  
pp. 1-14
Author(s):  
Linda Solem ◽  
Clive Diaz ◽  
Lauren Hill
Keyword(s):  
Social Workers ◽  
Child Neglect ◽  
Negative Impact ◽  
Content Type ◽  
Effective Interventions ◽  
Effective Manner ◽  
Definition Of ◽  
The Impact ◽  
The Voice

Purpose Child neglect is the most common form of maltreatment but is also one of the most complex. Neglect has a long-term negative impact on children and young people’s development and wellbeing. This study examined 20 recent serious case reviews that had taken place in England where neglect was a feature. The purpose of this study is sought to explore the barriers, which exist for social workers in England in identifying and responding to neglect in a timely, appropriate and effective manner. Design/methodology/approach Thematic analysis identified four main themes that were likely to impact upon effective interventions. Findings Challenges in terms of the definition of neglect and how to identify it; the use of neglect toolkits; the impact of organisational cultures on practice and the voice of the child. Originality/value In spite of its prevalence there is a dearth of literature relating specifically to the issue of neglect. There is a need for further research to be undertaken because of the acknowledged, seriousness and potential longstanding negative impact on children even into adulthood (Horwath, 2013). It is hoped that this study provides a useful insight into some of the barriers that exist for social workers in working effectively with children and families for whom neglect is an issue.

The effect of the Sarbanes–Oxley Act on firm productivity

2016 ◽  
Vol 9 (2) ◽  
pp. 120-142
Author(s):  
Hsihui Chang ◽  
Helen HL Choy
Keyword(s):  
Capital Investment ◽  
Negative Impact ◽  
Firm Productivity ◽  
Firm Level ◽  
Content Type ◽  
A Value ◽  
Sarbanes Oxley ◽  
Output Elasticity ◽  
Level Data

Purpose This paper aims to examine the effect of the Sarbanes–Oxley Act (SOX), which was signed by President George W. Bush and came into effect on July 30, 2002, on firm productivity. Design/methodology/approach The authors use the total factor productivity (TFP) as our measure of firm productivity. Findings Analyzing annual firm-level data from the Compustat database for the period of 1991-2006, the authors find that firm productivity increases at a higher rate in the post-SOX period. The results indicate that, although firms incur significant costs in complying with the requirements of the SOX, they also benefit from these requirements as evidenced by the improved productivity over time post-SOX. There is also a shift in the output elasticities from capital toward labor. The SOX has a positive effect on the output elasticity of labor but a negative impact on that of capital. Research limitations/implications The results have the following important implications. The SOX is a value-enhancing regulation in that it not only strengthens a firm’s corporate governance but also improves its productivity. However, compliance with the SOX can impose a long-term cost on firms: the decrease in the capital investment, leading to a decline in the output elasticity of capital. If this decline in the capital investment continues, it can have an adverse effect on firm productivity in the long term. Originality/value This paper extends the literature along the line of the actual operational effects of the SOX regulation by examining its effect on the productivity of firms.

What matters for the future? Comparing Globe's future orientation with Hofstede's long-term orientation

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ali Alipour
Keyword(s):  
Future Orientation ◽  
Cash Holdings ◽  
Two Dimensions ◽  
Empirical Literature ◽  
Temporal Orientation ◽  
Firm Level ◽  
Content Type ◽  
The Future ◽  
The Impact

PurposeThis paper aims to compare the future orientation (FO) society practices dimension of the Globe model with Hofstede's long-term orientation (LTO) by testing their causal effects on three firm-level variables: cash holdings, long-term investments and acquisitions. In doing so, this research challenges the already taken-for-granted assumption in the empirical research that the two dimensions are equivalent.Design/methodology/approachHierarchical linear modeling (HLM) was used to test the hypotheses on 7,065 firms across 49 countries between 2000 and 2017.FindingsThe findings show that the causal impacts of FO society practices and LTO on a given construct are not consistent. Although LTO increases cash holdings, the impact of FO society practices on this variable is insignificant. Additionally, unlike FO society practices, which significantly increases long-term investments and acquisitions, LTO does not influence long-term investments and decreases acquisitions.Originality/valueThis study is valuable since it addresses the confusion surrounding the similarities and differences between FO society practices and LTO. Despite the dissimilarity also emphasized by Globe, Hofstede claims that they are equivalent, and the great majority of the empirical literature has assumed them to be equivalent in their analyses. Addressing this confusion, this research provides further empirical evidence that these two dimensions are dissimilar. The additional important contribution of the study is theorizing and examining the impact of FO society practices and LTO on the firm-level outcomes that reflect their temporal orientation (i.e. long-term investments and acquisitions), which is surprisingly neglected in the literature.

Market reaction to open innovation announcements

2018 ◽  
Vol 21 (1) ◽  
pp. 142-156 ◽  
Author(s):  
Dawid Szutowski
Keyword(s):  
Open Innovation ◽  
Information Disclosure ◽  
The European Union ◽  
Content Type ◽  
Service Companies ◽  
Significant Difference ◽  
Short And Long Term ◽  
The Impact ◽  
Positive Effect

Purpose Open innovation is of crucial importance for all companies operating in the economics of widely distributed knowledge. However, the effects of its disclosure remain largely uncharted in the case of service companies. Therefore, the purpose of this paper is to measure the impact of open innovation announcements on the market value (MV) of service enterprises. Design/methodology/approach The research covered 398 open innovation announcements released by service companies. It was conducted in the whole of the European Union in the period February 2011-December 2016. The data were analysed in the short and long term with the use of event-study and buy-and-hold methods. Findings The results indicated the significant positive effect of open innovation disclosure in both short and long term. At the same time, the market was not able to immediately fully value the information in the short run and tended to overestimate the positive effect of the innovation announced. No significant leakage and dissemination effects were observed prior to the announcement. There was no significant difference in the magnitude of positive and negative reactions to the releases. Practical implications From the point of view of business practice the research proved the benefits of information disclosure and supported the long-term planning. From the investors’ viewpoint, it signalled the small risk of significant fluctuations resulting from aggressive trading prior to the announcement and unwinding part of the acquired position afterwards. Originality/value The paper attempts to fulfil the research gap on the impact of the announcements on open innovation on the MV of companies.

Competition law and policy for the EU banking sector in a period of increased economic uncertainty

2012 ◽  
Vol 54 (4) ◽  
pp. 284-301 ◽  
Author(s):  
Ilias Kapsis
Keyword(s):  
Banking Sector ◽  
Government Support ◽  
Bank Failures ◽  
The European Union ◽  
Content Type ◽  
Regulation And Supervision ◽  
The Impact ◽  
State Aids

PurposeThe purpose of this article is to discuss the long‐term impact of the current financial and economic crisis on competition in the European Union (EU) banking sector.Design/methodology/approachThe article first discusses the long term role of competition in the banking sector, commenting on policy developments prior to the crisis. Then the impact of the crisis is discussed focusing on two main areas of policy state: aids and bank regulation and supervision. The article culminates with the conclusions.FindingsThe main findings about state aids are that the efforts of the Commission to ensure that aided companies would not use the government support to distort competition seem to be working. However, given that the full impact on competition of these aids may take years to be felt, the Commission should be prepared to take action where necessary to ensure that competition will be protected. The provision of state aids could not have been avoided due to the grave systemic risks associated with bank failures. In respect of regulation and supervision, the article concluded that there is a lot of work to be done in this area to ensure that mistakes that led to the crisis will not be repeated but also that there is need for the Commission to ensure that the reforms to the regulatory and supervisory architecture do not occur at the expense of competition.Originality/valueThe article contains proposals about policy adjustments, thus contributing to the ongoing debate about the role of competition policy in the efforts to address the impact of the crisis.

scholarly journals The Effects of the Economic Adjustment Programmes for Greece: A Quasi-Experimental Approach

2021 ◽  
Vol 13 (9) ◽  
pp. 4970
Author(s):  
Julio Revuelta
Keyword(s):  
Experimental Approach ◽  
Control Method ◽  
Negative Impact ◽  
Synthetic Control ◽  
The European Union ◽  
Economic Adjustment ◽  
Negative Effect ◽  
Quasi Experimental ◽  
The Impact

Three Economic Adjustment Programmes (EAPs) were implemented in Greece, between 2010 and 2015, without achieving the proposed economic objectives. This article analyses the impact of the EAPs in Greece using the synthetic control method (SCM) and has three main contributions. First, it identifies a long-term negative impact worth 35.3 per cent of the Greek GDP per capita caused by the application of the EAPs. Second, it finds that three-quarters of the estimated negative and unsustainable impact accumulated over the 2010–2012 period. Third, it identifies a regressive effect of the EAPs on income distribution, the Greek population with lower incomes experienced a greater negative effect caused by the adjustment programmes. These results underscore the need to review and correct the conditional financial assistance framework currently in force in the European Union.

scholarly journals The impact of government financial assistance on the performance and financing of Australian SMEs

2017 ◽  
Vol 30 (4) ◽  
pp. 447-464 ◽  
Author(s):  
Dong Xiang ◽  
Andrew C. Worthington
Keyword(s):  
Financial Assistance ◽  
Federal State ◽  
Firm Level ◽  
Data Set ◽  
Content Type ◽  
Goods And Services ◽  
Control Factors ◽  
The Future ◽  
Direct Government ◽  
The Impact

Purpose This paper aims to examine the impact of government financial assistance provided to Australian small and medium-sized enterprises (SMEs). Design/methodology/approach This study uses firm-level panel data on more than 2,000 SMEs over a five-year period from the Business Longitudinal Database compiled by the Australian Bureau of Statistics. The authors measure the impact of government financial assistance in terms of subsequent SME performance (income from sales of goods and services and profitability) and changes in the availability of alternative nongovernment finance. Findings The authors find government financial assistance helps SMEs improve performance over and above the effects of conventional financing. They also find than the implicit guarantee effect signalled by a firm receiving government financial assistance suggests firms are more likely to obtain nongovernment finance in the future. Control factors that significantly affect SME performance and finance availability include business size, the level of innovation, business objectives and industry. Research limitations/implications Nearly all of the responses in the original survey data are qualitative, so we are unable to assess how the strength of these relationships varies by the levels of assistance, income and profitability. The measure of government financial assistance of the authors is also general in that it includes grants, subsidies and rebates from any Australian Government organisation, so we are unable to comment on the impact of individual federal, state or local government programmes. Practical implications Government financial assistance helps SMEs improve both immediate and future performance as measured by income and profitability. This could be because government financial assistance quickly overcomes the financial constraints endemic in SMEs. Government financial assistance also helps SMEs obtain nongovernment finance in the future. The authors conjecture that this is because it overcomes some of the information opaqueness of SMEs. Originality/value Few studies focus on the impact of direct government financial assistance compared with indirect assistance as typical in credit guarantee schemes. The authors use a very large and detailed data set on Australian SMEs to undertake the analysis.

scholarly journals COVID-19: a pandemic to tourism guest-host relationship in India

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Parvinder Kour ◽  
Aruditya Jasrotia ◽  
Sudhanshu Gupta
Keyword(s):  
Travel Behavior ◽  
Local Community ◽  
Negative Impact ◽  
Participant Observation ◽  
Subject Area ◽  
Current Status ◽  
Content Type ◽  
The Impact ◽  
Depth Interviews

Purpose The emerging situation of pandemic due to COVID-19 has not only influenced the daily life but also the society and travel activities around the world thereby depriving tourists (especially who are already on the move) of facilities and even making them to look for desperate alternatives. Such situation in fact may draw a long-term impact on guest–host relationship while residents’ behavior reflects hostility toward the tourists. Such kind of interactions contributes toward tourists’ perception and experience about the destination and its services thereby affecting their level of acceptance and tolerance for tour and travel activities (Armenski et al., 2011). Moreover, the guest–host relationship has mostly been studied with perspective of and focus on residents/host and not enough on tourists (Skipper, 2009; Vargas-Sánchez et al., 2014). Keeping this in view, this paper aims to analyze the impact of pandemic situation on guest–host relationship and its future impact on travel intentions among the tourists in India. Design/methodology/approach The study undertakes the help of in-depth interviews and extracting themes to understand the guest–host relationship and the perspective of tourists in challenging times like COVID-19 and its impact on the relationship. The secondary sources have been adopted to retrieve the data related to current status of travel industry in India. In-depth interviews were conducted online to gather data for the qualitative analysis regarding the research. Further, the data has been analyzed for retrieving a dimensional approach to subject area. Findings The data from participant observation showed that the hosts displayed panic, mistrust and irresponsible behavior toward the guests, and this clearly indicates that the pandemic situation has a highly negative impact on the image of the community and the destination. This ultimately affects the guest–hosts relationships in the long term. Most of the tourists showed that they were okay with following the rules and respect local culture but were expecting support from local community during distress. It was found that there were two female tourists who were asked to vacate the accommodation, which can be considered as an inappropriate and extreme behavior. Thus, COVID-19 is not only causing a threat to the tourism presently but will have a prolonged influence on guest–host relationship as negative interaction or experiences are supposed to be frequently radiated by the tourists (de Albuquerque and McElroy, 2001). Originality/value There is no dearth of studies focusing on travel behavior dimensions, whereas the linkage of residents’ behavior toward it still requires much consideration and analyzing simultaneously. The study looks into the area of guest–host relationship and tries to explore it from the perspective and significance of tourist (guest) rather than the much read and researched resident (host) perception at the center. The findings of the study could be helpful in drawing the strategic framework for the industry to handle and sustain the guest–host relation so as to safeguard the future of tourism and sustain potential travel market reiterating the significance of tourists/guests and their perspective about the hosts, in developing and growing the tourism of a destination.

Do we have to downsize – does the empirical evidence suggest any alternatives?

2018 ◽  
Vol 11 (4) ◽  
pp. 449-460 ◽  
Author(s):  
Michael Carriger
Keyword(s):  
Negative Impact ◽  
Positive Impact ◽  
Financial Health ◽  
Content Type ◽  
Financial Outcomes ◽  
Cost Cutting ◽  
Financial Decline ◽  
Long Term Impact ◽  
The Impact

Purpose Given a growing literature indicating that downsizing is not an effective way to address financial decline, having either little impact or negative impact on the financial health or market valuation of financially troubled companies, what is the alternative for those companies in financial trouble? Three sets of alternatives to downsizing are available to companies suffering financial trouble: strategies addressing personnel/fix costs, strategies focused on addressing cost cutting/variable costs and strategies addressing strategic planning/revenue. Although alternatives to downsizing have been identified, little research has been conducted comparing the impact of downsizing vs alternatives to downsizing on firm performance. The paper aims to discuss this issue. Design/methodology/approach This present study looked solely at strategies focused on addressing personnel/fix costs. Focusing primarily on forced attrition (downsizing) vs temporary attrition and/or natural attrition, this research attempts to determine whether specific groupings of alternatives to downsizing are more effective at addressing financial decline that companies find themselves in as compared to downsizing. This included relying on temporary attrition, natural attrition or doing nothing at all. Findings The research presented here indicates that various alternatives to downsizing have an immediate positive impact on measures of profitability and a positive long-term impact on one measure of efficiency: revenue per employee. Evidence shows that temporary attrition leads to better financial outcomes than natural attrition than forced attrition or downsizing. Originality/value The research presented here indicates that various alternatives to downsizing have an immediate positive impact on measures of profitability and a positive long-term impact on one measure of efficiency: revenue per employee. This has implications for managers put in the position of having to make a decision whether to downsize or not.

scholarly journals THE IMPACT OF THE INTEGRATION ASSOCIATIONS ON THE DEVELOPMENT OF THE EXPORT POTENTIAL OF UKRAINE

2017 ◽  
pp. 65-76
Author(s):  
Oksana DESYATNYUK ◽  
Vasyl VOITSESHYN
Keyword(s):  
Regional Integration ◽  
Cross Correlation ◽  
Negative Impact ◽  
Political Crisis ◽  
The European Union ◽  
Full Member ◽  
The Military ◽  
The Impact ◽  
The Eu

Introduction. The development of the economy of Ukraine is directly determined by the value of the export of products, in particular, in the long-term perspective, that is, in the future, which is expressed in the export potential, which allows us to assess the level of the economic power of the state and the ability to furtherits development. The deepening of the economic integration of Ukraine, expressed in its participation in the integration associations, when Ukraine has recently become a full member of the European Union (EU) , actualizes the issue ofthe development ofits exportpotential, afterall, the Ukraine's membership in the EU obliges it to implement its norms into the national economy, including the trade (as certifies by the participation of Ukraine in the World Trade Organization (WTO), which directly affects on its export. Purpose. This research sets up an assessment ofthe impact ofthe membership of Ukraine in the WTO and the EU, in part ofits contractual commitments on its exportpotential. Methods. In this research we used a cross-correlation and a correlation-regression analysis. Results. In the course of this research we found that the effect ofthe membership of Ukraine in the WTO and the EU on the export potential is controversial, because with the expansion of the partnership and the sales markets ofthe products and the strengthening ofits competitiveness, a crisis has emerged in the Ukrainian economy generated by a regional integration, which has had a negative impact on the export potential of Ukraine. Conclusion. This research proposes following conclusions and recommendations for improving the impact ofintegration associations on the development of the export potential of Ukraine: • the search forsolutions to the military-political crisis in Ukraine; • trade liberalization in the context ofthe gradual abolition of export duties on goods with the addition ofa new schedule ofremovating ofthe export duties.

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