scholarly journals Whistleblowing policy disclosure: evidence from an Indian emerging market

2015 ◽  
Vol 15 (5) ◽  
pp. 678-692 ◽  
Author(s):  
Arpita Agnihotri ◽  
Saurabh Bhattacharya
Keyword(s):  
Empirical Study ◽  
Emerging Markets ◽  
Design Methodology ◽  
Stock Exchange ◽  
Emerging Market ◽  
Conflict Theory ◽  
Independent Directors ◽  
Tobit Regression ◽  
Content Type

Purpose – This paper aims to investigate factors which drive firms to disclose whistleblowing policies in one of the emerging markets, i.e. India. Design/methodology/approach – A sample of 200 Bombay Stock Exchange-listed Indian firms is analyzed using Tobit regression. Findings – Promoter shareholding, proportion of independent directors and specific positions like chief ethical officer influence disclosure of whistleblowing policies. Originality/value – This paper presents the first empirical study where principal-principal conflict theory is extended to explain drivers of whistleblowing policy disclosure and, hence, brings new insights to the literature on whistleblowing policy disclosure.

Measuring the service gaps in the roles of quantity surveyors in the emerging market

2016 ◽  
Vol 23 (5) ◽  
pp. 1111-1131 ◽  
Author(s):  
AbdulLateef Olanrewaju
Keyword(s):  
Emerging Markets ◽  
Construction Industry ◽  
Design Methodology ◽  
Emerging Market ◽  
Supply And Demand ◽  
The Other ◽  
Primary Data ◽  
Content Type ◽  
Practical Implications ◽  
Survey Questionnaires

Purpose – The opportunities that the emerging markets present to the players in the construction industry means that the players need to expand on the scope and size of their responsibilities and duties to the stakeholders. Each of the professionals now demands more specialised and sophisticated services from one another. The other players in the construction industry now require more emerging responsibilities and duties from the quantity surveyors. The purpose of this paper is to examine the roles that “modern” quantity surveyors play by measuring the gaps that exist in the services that the quantity surveyors provide. Design/methodology/approach – Primary data are collected through survey questionnaires. In total, 23 roles played by modern quantity surveyors are identified and addressed to the respondents to rank the rate at which quantity surveyors provide these “emerging” services. The collected data were analysed statistically. Findings – The results of the findings led to the conclusion that the quantity surveyors were not meeting the expectations of other players. Therefore, for competitiveness, quantity surveyors need to better meet demand expectations. Research limitations/implications – This findings of this research are constrained to the services or functions that the quantity provide in the construction industry. Practical implications – This knowledge is valuable to academic institutions that offer quantity surveying programmes, to practicing quantity surveyors, governments, and other players in the construction industry. It will allow quantity surveyors to reconcile supply and demand expectations. Originality/value – There is no known conclusive empirical study on services offered by quantity surveyors in any emerging markets. Therefore, the findings offer a fresh understanding on the services of quantity surveyors not only in Nigeria but elsewhere. While some of the services are common, others are peculiar to emerging markets.

Conditional stock liquidity premium: is Warsaw stock exchange different?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Szymon Stereńczak
Keyword(s):  
Emerging Markets ◽  
Stock Returns ◽  
Stock Exchange ◽  
Emerging Market ◽  
Market Liquidity ◽  
Investment Horizon ◽  
Liquidity Premium ◽  
Stock Liquidity ◽  
Content Type ◽  
Bear Market

Purpose This paper aims to empirically indicate the factors influencing stock liquidity premium (i.e. the relationship between liquidity and stock returns) in one of the leading European emerging markets, namely, the Polish one. Design/methodology/approach Various firms’ characteristics and market states are analysed as potentially affecting liquidity premiums in the Polish stock market. Stock returns are regressed on liquidity measures and panel models are used. Liquidity premium has been estimated in various subsamples. Findings The findings vividly contradict the common sense that liquidity premium raises during the periods of stress. Liquidity premium does not increase during bear markets, as investors lengthen the investment horizon when market liquidity decreases. Liquidity premium varies with the firm’s size, book-to-market value and stock risk, but these patterns seem to vanish during a bear market. Originality/value This is one of the first empirical papers considering conditional stock liquidity premium in an emerging market. Using a unique methodological design it is presented that liquidity premium in emerging markets behaves differently than in developed markets.

The impact of board independence on accounting-based performance

2017 ◽  
Vol 33 (2) ◽  
pp. 114-130 ◽  
Author(s):  
Allam Mohammed Mousa Hamdan ◽  
Muneer Mohamed Saeed Al Mubarak
Keyword(s):  
Design Methodology ◽  
Stock Exchange ◽  
Independent Directors ◽  
Board Independence ◽  
Stewardship Theory ◽  
Ongoing Debate ◽  
Content Type ◽  
Return On Equity ◽  
Inverse Effect ◽  
The Impact

Purpose The purpose of this paper is to explore the effect of board independence on firm’s performance from the Stewardship theory perspective. Design/methodology/approach The study uses panel data of 162 firms listed in Bahrain Bourse and Saudi Stock Exchange during the period of 2013-2015. It also uses several econometric techniques to confirm the robustness of the results, such as firm fixed-effect approach and two-stage least squares (2SLS) in order to overcome the endogeneity which exists in such relations. Findings The study found an inverse effect of board independence on firm performance which was measured using two accounting-based measures: return of assets and return on equity. Based on these results, it was found that internal directors are more effective in enhancing performance of the firm than independent directors as information asymmetry problem and lack of firm-specific experience hinders the ability of independent directors of taking proper decisions that enhance firm's performance. Originality/value The study contributes to the ongoing debate about the relation between board independence and firm's performance in emerging markets, focusing on Saudi and Bahraini markets which have recently sought to form a system of laws that aims at protecting investors. The study indicates the importance of such laws rather than traditional governance measurements in enhancing performance.

Dividend payment and earnings quality: evidence from Indonesia

2014 ◽  
Vol 22 (2) ◽  
pp. 103-117 ◽  
Author(s):  
Febriela Sirait ◽  
Sylvia Veronica Siregar
Keyword(s):  
Emerging Markets ◽  
Design Methodology ◽  
Manufacturing Industry ◽  
Stock Exchange ◽  
Earnings Quality ◽  
Positive Association ◽  
Significant Positive Association ◽  
Dividend Payment ◽  
Content Type ◽  
The Relationship

Purpose – This research aims to examine the relationship between dividend payment and earnings quality. Design/methodology/approach – The authors examine four dividend features: dividend-paying status, dividend size, dividend changes, and dividend persistence. The samples consist of 90 firms from the manufacturing industry in the years 2005-2009. Multiple regression is used for testing hypotheses. Findings – The results show that dividend-paying status, dividend increase, and persistence in dividend payment have significant positive association with earnings quality. However, the authors do not find evidence that larger dividend size is an indicator of higher earnings quality. Overall, the results show that dividend-paying status, increase in dividend size, and persistence in dividend payment are indicators or signals of higher earnings quality. Research limitations/implications – This study examines only the manufacturing firms listed on the Indonesia Stock Exchange. Further study based on different industries and/or different emerging markets is needed before generalizing results. Originality/value – Few studies have examined dividend payment in emerging markets. This study fills the void.

scholarly journals Independent directors and corporate investment: evidence from an emerging market

2019 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Quoc Trung Tran
Keyword(s):  
Stock Exchange ◽  
Emerging Market ◽  
Corporate Investment ◽  
Independent Directors ◽  
Investment Efficiency ◽  
Firm Investment ◽  
Full Sample ◽  
Content Type ◽  
Research Findings

Purpose The purpose of this paper is to examine whether independent directors reduce corporate overinvestment and improve investment efficiency in an emerging market. Design/methodology/approach First, the author developed a research model in which corporate investment is a function of Tobin’s Q, the proportion of independent directors in the board and an interaction between them. Second, the author divided the full sample into groups of firms with a low- and high-financial constraint to compare the effects of independent directors between financially unconstrained and constrained firms. Findings With a full sample of 1,281 observations collected from 193 firms listed in Ho Chi Minh Stock Exchange during the period from 2009 to 2017, the author find that the proportion of independent directors is negatively related to firm investment but its interactive term with Tobin’s Q is positively related to corporate investment. These findings imply that independent directors can help firms reduce overinvestment and improve investment efficiency. Moreover, the research findings indicate that these effects of independent directors are stronger for financially constrained firms. Originality/value The extant literature shows that independent directors are an effective mechanism to reduce agency problems in firm decisions and operating performance. However, there has been no research on the role of independent directors in corporate investment policy.

Internationalisation strategies of emerging market firms: evidence from Sarawak, Malaysia

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yaa Serwaa-Akoto Amoah ◽  
Fidella Nga Huong Tiew ◽  
Ching Seng Yap
Keyword(s):  
Emerging Markets ◽  
Design Methodology ◽  
Qualitative Methodology ◽  
Emerging Market ◽  
Structured Interviews ◽  
Content Type ◽  
Top Managers ◽  
Emerging Market Firms ◽  
Internationalisation Strategies

Purpose This study aims to explore the internationalisation paths and strategies adopted by firms from an emerging market and serves as a step towards examining the suitability of prevailing internationalisation theories in the context of emerging market firms. Design/methodology/approach This study adopted a qualitative methodology and gathered data through in-depth semi-structured interviews with 15 top managers of internationalised firms from the East Malaysian state of Sarawak. Data were analysed thematically. Findings The results revealed that the internationalisation strategies of firms from Sarawak can be classified under three main categories: motivations and markets, modes and measures. The constraints the firms faced were important determinants of their internationalisation strategies. The internationalisation paths and strategies of the firms were also found to exhibit both similarities to and deviations from the tenets of prevailing internationalisation theories. Originality/value The study contributes knowledge to the literature of both internationalisation theories and internationalisation strategies of emerging markets, in particular, it advances Fey et al.’s (2016) Five M Framework.

Empirical study of protective products in an emerging market

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Xinrong Li ◽  
Tao Guo ◽  
Dongmei Guo
Keyword(s):  
Economic Development ◽  
Empirical Study ◽  
Environmental Conditions ◽  
Design Methodology ◽  
Emerging Market ◽  
Internet Access ◽  
Content Type ◽  
Empirical Results ◽  
Level Of Economic Development

PurposeThis paper aims to study the motivations for purchasing protective products.Design/methodology/approachEmpirical microeconomic research.FindingsThe results show that comparing with ordinary families, families vulnerable to environmental conditions, including prepregnant, pregnant and postpartum families, are not intended to consume more protective products. Among the above three types of families, postpartum families consume the most, followed by pregnant families, and prepregnancy families consume the least. The results also showed that a higher level of economic development, more prevalent Internet access and higher levels of education also increase the consumption of protective products.Originality/valueNew dataset and new empirical results.

What do we know about organizational sustainability and international business?

2020 ◽  
Vol 31 (2) ◽  
pp. 292-305 ◽  
Author(s):  
Ana Maria Gomez-Trujillo ◽  
Maria Alejandra Gonzalez-Perez
Keyword(s):  
Sustainable Development ◽  
Emerging Markets ◽  
International Business ◽  
Design Methodology ◽  
Emerging Market ◽  
Organizational Sustainability ◽  
Content Type ◽  
Emerging Market Multinationals ◽  
Sustainability Initiatives ◽  
Corporate Social

PurposeThe purpose of this study is to provide a revision of the literature that links the concepts of sustainability and internationalization in the context of emerging marketsDesign/methodology/approachThe results are presented following the recommendations of Challahan (2014), who introduced the concept of the “Six W” as components of a literature review.FindingsIt can be noted that there are common characteristics among the study of internationalization and sustainability in emerging markets. It is possible to suggest a framework of research that considers internationalization as a driver for the pursuit of sustainability initiatives.Originality/valueThere is an increasing evidence of the inclusion of corporate social responsibility activities and sustainable development on international business. This way, the present paper can serve as a base to understand the internationalization processes of emerging market multinationals (EMNEs) and their commitment to sustainability.

What determine shoppers’ preferences for malls in an emerging market?

2017 ◽  
Vol 18 (1) ◽  
pp. 70-83 ◽  
Author(s):  
Justin Paul
Keyword(s):  
Service Quality ◽  
Emerging Markets ◽  
Design Methodology ◽  
Multinational Firms ◽  
Emerging Market ◽  
Primary Factor ◽  
Strategic Marketing ◽  
Content Type ◽  
Young Consumers

Purpose The entry of multinational firms is likely to increase competition and provide better deals to consumers in emerging markets such as India, China and Brazil. In this context, this paper aims to examine the factors determining the consumers’ preferences for shopping at large malls in an emerging market as compared to small outlets (in particular, young consumers’ preferences). Design/methodology/approach The present study is based on a survey of 200 consumers at large retail malls in India, the second-fastest growing emerging market. Findings The findings suggest that mostly young consumers prefer to shop in large malls because of the availability of the latest, well-known brands and discounted prices, which implies that service quality is not a primary factor. Originality/value The author posits theoretical propositions to stimulate further research. The insights from the study would be useful for strategic marketing for retailers.

Positioning strategies of retailers’ brands in the emerging market – a cluster analysis

2018 ◽  
Vol 13 (5) ◽  
pp. 925-942 ◽  
Author(s):  
Marzanna Katarzyna Witek-Hajduk ◽  
Anna Grudecka
Keyword(s):  
Cluster Analysis ◽  
Emerging Markets ◽  
Random Sample ◽  
Design Methodology ◽  
Emerging Market ◽  
Competitive Advantages ◽  
Brand Positioning ◽  
Content Type ◽  
Clustering Approach ◽  
Practical Implications

Purpose The purpose of this paper is to identify and profile clusters of retailers operating in emerging markets, in terms of positioning strategies of their own brands (based on the example of the Polish market). Design/methodology/approach The study is based on a random sample of 143 medium and large retailers operating in Poland. The data were collected using a CATI method at the end of 2014 and then analyzed with the use of hierarchical and non-hierarchical methods. Findings With the use of cluster analysis, six clusters of retailers were identified. Members of each cluster refer to different predominant factors when positioning their own brands. Members of each cluster do not differ significantly in terms of descriptive variables (exogenous to the cluster analysis) being used for profiling clusters. Research limitations/implications In this study, only retailers operating in Poland were surveyed. This study does not refer to the targeting strategies, which may be analyzed jointly with the positioning strategies of retailers’ brands. Practical implications The paper has implications in understanding the approaches to the retailer brand positioning representing by the identified clusters of retailers that might be a basis for the creation of the retailers’ competitive advantages. Originality/value The main contribution of this research lies in the clustering approach to segmenting retailers in terms of their own brands’ positioning strategies and identifying clusters of retailers in the Polish market due to the retailer brands’ positioning.

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