The alternative futures of the International Centre for Biosaline Agriculture: from salinity research to greening the desert

foresight ◽  
2014 ◽  
Vol 16 (5) ◽  
pp. 389-409 ◽  
Author(s):  
Sohail Inayatullah ◽  
Ismahane A. Elouafi
Keyword(s):  
Action Learning ◽  
Mena Region ◽  
Alternative Futures ◽  
Content Type ◽  
Knowledge Based ◽  
Strategic Plans ◽  
Short Run ◽  
History Of ◽  
Anticipatory Action

Purpose – The purpose of this paper is to present findings, based on a report for the International Centre for Biosaline Agriculture (ICBA), of the preferred visions, scenarios and strategies of stakeholders articulated at a workshop held in Dubai from November 25 to 26, 2012. Design/methodology/approach – The “six pillars” approach to foresight was used to articulate visions of preferred futures of over 50 international stakeholders, including representatives from the UAE Government, national and international donors, the private sector and leading scientists from universities and international scientific institutions. These visions were then translated into a strategic and business plan for ICBA. Findings – The research center was successfully able to use foresight methods to develop a long-term strategic plan, continuing its history of innovation in knowledge-based research relating to saline and marginal environments. Novel visions and strategies for water and food futures were developed. A risk assessment of each vision was conducted. Research limitations/implications – This case study presents visions with scenarios and strategic pathways. It illustrates the utility in setting long-term visions first and then linking with strategic plans. Limitations include that the success of such a venture cannot be judged for at least five to six years. While in the short run, resources – human, partnerships, capital and leadership – have been mobilized, it is too soon to gauge real success of the foresight workshop, project. Practical implications – The study shows links between visions, scenarios and strategic pathways. Social implications – The study includes valuable discussions by leading scientists of water and food futures as well as the organizational and leadership capabilities required to deliver alternative futures. Originality/value – One of the few workshop-oriented interventions in the Middle East and North Africa Region (MENA) region using the anticipatory action learning six pillars framework is included. The study contrasts normal expert-based conferencing in the MENA region.

Does the exchange rate overshoot in an emerging economy?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Muhammad Aftab ◽  
Amir Rafique ◽  
Evan Lau
Keyword(s):  
Exchange Rate ◽  
Money Supply ◽  
Structural Breaks ◽  
Content Type ◽  
Extant Literature ◽  
Nonlinear Ardl ◽  
Short Run ◽  
The Exchange Rate ◽  
Substantial Decline

Purpose The sticky-price monetary model of exchange rate states the overshooting hypothesis as, exchange rate depreciation beyond its long-term value in response to an increase in money supply owing to the sticky nature of prices. Because of interest and relevance to policy, there is a huge extant literature on it but with mixed findings that suggest the need for further studies to refine the findings. Pakistan’s rupee exchange rate against the US dollar depreciated 128.44% over the period May 2007–December 2018. Considering this substantial decline in rupee's value, this study aims to examine either the rupee short-run value is over-shot of its long-term value. Design/methodology/approach This study uses a linear ARDL approach that segregates the short-run and long-run effects thus clarifying the premise of exchange rate overshooting. Furthermore, this study also uses nonlinear ARDL as a robustness check incorporating structural breaks. Findings Findings based on a linear model show evidence of exchange rate undershooting that means a positive money shock causes the exchange rate to appreciate. A nonlinear analysis also provides support to these findings. However, the increase in relative money supply has more such effect than that of a decrease in the relative money supply. Moreover, the authorities’ inclination to stabilize the exchange rate appreciates its short-run value. Originality/value This study substantiates the overshooting hypothesis literature by considering the role of asymmetric effects of exchange rate determinants and structural breaks that is a rare attempt in the extant literature.

Equity market timing and capital structure: evidence on post-IPO firms in Indonesia

2019 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Dewi Ratih
Keyword(s):  
Capital Structure ◽  
Market Timing ◽  
Equity Market ◽  
Content Type ◽  
Corporate Capital ◽  
Corporate Capital Structure ◽  
Short Run ◽  
Practical Implications ◽  
Equity Market Timing

Purpose The purpose of this paper is to analyze and evaluate the impacts of equity market timing on corporate capital structure policies in Indonesia by apply Baker and Wurgler’s analytical approach to firms in Indonesia to see, first, if that approach applies to Indonesian firms and, second, if it can be generalized to other emerging markets. Design/methodology/approach This study will focus on capital structure policies based on Market Timing Theory in developing countries, which uses the panel data of companies listed in Indonesian Stock Exchange after IPO. The companies used as research object are 70 firms in the non-financial/non-banking sector with the observation period of 2000–2015. The period of measurement is five years after IPO. Using a past market value in which equity market timing is measured in two-time measurements, i.e. yearly timing and long-term timing to prove its persistence. Findings Consistent with equity market timing theory, the results suggest that firms tend to issue equities when their market valuations are relatively higher than their book values and their past market values are high. As a consequence, the firms become underleveraged or have their debts reduced in the short run. The results of long-term measurement on equity market timing do not appear to affect the firms’ capital structure decisions due to the firms’ relatively quick adjustments of optimal capital structures. The conclusion is that equity market timing is an important element in the short run but not in the long run. Research limitations/implications The results of this study describe how firms in Indonesia take advantage of temporary market share fluctuations through equity market timing in their capital structure policies before ultimately making adjustments to the directions they are targeting. Practical implications The use of equity market timing is more aimed at reducing the debt ratio and avoiding unfavorable conditions in the debt market, as well as taking advantage of the capital gains derived from the differences in their stock prices. This study also has practical implications on investment policies that need to consider the adaptation factor of the industrial environment when it comes to making capital structure decisions, including how the entity must take policy when uncertain economic conditions. Social implications Through the research behavior of capital structure more in-depth decision is expected to provide an overview for investors widely in determining investment policy. Thus, the investment strategy is more planned and can also anticipate unexpected conditions. Originality/value This research is the first study to analyze and to evaluate the impacts of equity market timing on corporate capital structure policies on post-IPO firms in Indonesia. This research is an empirical study that investigates the relevance of equity market timing considerations in the determination of debt-equity choices in the capital structure, included in the conditions of the global financial crisis.

scholarly journals Using the ARDL-ECM approach to investigate the nexus between support price and wheat production

2019 ◽  
Vol 26 (1) ◽  
pp. 139-152
Author(s):  
Abbas Ali Chandio ◽  
Yuansheng Jiang ◽  
Abdul Rehman
Keyword(s):  
Bounds Testing ◽  
Content Type ◽  
Wheat Production ◽  
Long Run ◽  
Long Term Effect ◽  
Ardl Approach ◽  
Support Price ◽  
Short Run ◽  
Effect Of Support

PurposeThe purpose of this paper is to examine the effect of support price on wheat production in Pakistan during the period 1971–2016.Design/methodology/approachTo capture the effect of support price on wheat production, the authors estimated the long-run linkage by using the ARDL bounds testing approach to cointegration.FindingsThis study confirmed the presence of a positive and long-term effect of area under cultivation, support price and fertilizer consumption on wheat production through ARDL bounds test. The results showed that both in the long run and short run, support price plays an important role in the enhancement of wheat production. The authors also found that the coefficients of the area under cultivation and fertilizer consumption variables were statistically significant and positive both in the long run and short run.Originality/valueThe use of the ARDL approach that examines the long-run and short-run effects of support price on wheat production in Pakistan makes the current study unique. An emerging economic literature suggests that only limited research has been conducted in this area.

The role of network relationships in small wineries’ internationalization

2017 ◽  
Vol 29 (1) ◽  
pp. 37-57 ◽  
Author(s):  
Tiia Vissak ◽  
Barbara Francioni ◽  
Fabio Musso
Keyword(s):  
Design Methodology ◽  
Discussion Section ◽  
Research Attention ◽  
Content Type ◽  
Wine Tourism ◽  
Considerable Research ◽  
Strategic Plans

Purpose This paper aims to examine the role of tourist-generated and other network relationships in small Italian wineries’ internationalization. Design/methodology/approach It is based on 14 cases of which four are discussed in detail. All 14 cases are summarized in two tables and analyzed in the Discussion section. Findings Most firms did not pre-plan their foreign activities. International wine tourism was a major source for creating the contacts necessary for their internationalization: they created relationships/networks in tourists’ home markets and, as a result, expanded there either through selling directly to tourists or to the importers they recommended. In addition, they relied on contacts created at trade fairs or by friends/relatives. Some internationalization attempts failed, as the firms were passive and lacked long-term strategic plans. Thus, these producers have not fully realized the potential of wine tourists’ contacts and other network relationships in their internationalization. Originality/value It shows how wineries benefited from tourists’ networks and other co-operative relationships and how, as a result, they started exporting, but also which problems they faced. These topics have not received considerable research attention yet.

Long-term natural history of hemorrhagic type moyamoya disease in 42 patients

2000 ◽  
Vol 93 (6) ◽  
pp. 976-980 ◽  
Author(s):  
Eiichi Kobayashi ◽  
Naokatsu Saeki ◽  
Hiromichi Oishi ◽  
Shinji Hirai ◽  
Akira Yamaura
Keyword(s):  
Risk Factors ◽  
Natural History ◽  
Moyamoya Disease ◽  
Bypass Surgery ◽  
Bleeding Episode ◽  
Content Type ◽  
History Of ◽  
Fine Print

Object. The purpose of this study was to delineate the long-term natural history of hemorrhagic moyamoya disease (MMD).Methods. A retrospective review was conducted among 42 patients suffering from hemorrhagic MMD who had been treated conservatively without bypass surgery. The group included four patients who had undergone indirect bypass surgery after an episode of rebleeding. The follow-up period averaged 80.6 months. The clinical features of the first bleeding episode and repeated bleeding episodes were analyzed to determine the risk factors of rebleeding and poor outcome.Intraventricular hemorrhage with or without intracerebral hemorrhage was a dominant finding on computerized tomography scans during the first bleeding episode in 29 cases (69%). During the follow-up period, 14 patients experienced a second episode of bleeding, which occurred 10 years or longer after the original hemorrhage in five cases (35.7%). The annual rebleeding rate was 7.09%/person/year. The second bleeding episode was characterized by a change in which hemisphere bleeding occurred in three cases (21.4%) and by the type of bleeding in seven cases (50%). After rebleeding the rate of good recovery fell from 45.5% to 21.4% and the mortality rate rose from 6.8% to 28.6%. Rebleeding and patient age were statistically significant risk factors of poor outcome. All four patients in whom there was indirect revascularization after the second bleeding episode experienced a repeated bleeding episode within 8 years.Conclusions. The occurrence of rebleeding a long time after the first hemorrhagic episode was not uncommon. Furthermore, the change in which hemisphere and the type of bleeding that occurred after the first episode suggested the difficulty encountered in the prevention of repeated hemorrhage.

International diversification among Islamic investments: is there any benefit

2014 ◽  
Vol 40 (6) ◽  
pp. 613-633 ◽  
Author(s):  
Mejda Bahlous ◽  
Rosylin Mohd. Yusof
Keyword(s):  
Structural Dynamics ◽  
North American ◽  
International Diversification ◽  
Asia Pacific ◽  
Impulse Response Functions ◽  
Mena Region ◽  
Content Type ◽  
Fund Managers ◽  
Long Run ◽  
Short Run

Purpose – The purpose of this paper is to assess the benefits to investors of international diversification among only Islamic funds. Compared to conventional investors who are not restricted in their choice of funds, Islamic investors are restricted to investing in shari’a-compliant funds, thus giving up some diversification benefits. The possibility of international diversification among only Islamic funds may thus help Islamic investors to invest in accordance to their religious beliefs and still benefit from diversification. Design/methodology/approach – The paper assesses the benefits of diversification by analyzing the extent of co-integration among four regional Islamic funds and by estimating the short-term and long-term structural dynamics of and among these funds. The paper uses an Autoregressive-Distributed Lag (ARDL) approach to testing the long-run relationships among these funds and use variance decomposition and impulse response functions to examine the structural dynamics of the relationship between these funds. These methods can also be used for predictive purposes and represent, in authors opinion, a useful approach that complements the traditional methodology of static covariance matrix to find the efficient frontier at a given moment in time. Findings – The results indicate that international diversification can help reduce risk if Asia Pacific Islamic funds and MENA region Islamic funds are invested contemporaneously and/or Asia Pacific Islamic funds and North America Islamic funds, and/or Europe funds and MENA funds. The paper also finds that investors would benefit from investing in North American funds and MENA funds both in the long run and in the short run. Conversely, the paper finds that Europe funds and North American funds are co-integrated in the long-run precluding the opportunity for substantial diversification benefits from these particular portfolio mixes. Research limitations/implications – The long-run analysis helps passive fund managers and investors in composing their portfolio by providing evidence that some portfolio mixes of different regional Islamic funds lead to better risk return performance than one regional Islamic fund portfolios. The short-run analysis however helps the active fund managers and investors as it suggests that diversifying in the short run and reviewing their portfolio on a regular basis would be beneficial as well. Originality/value – This analysis justifies the promotion of Islamic finance as the negative correlation between several Islamic funds across the regions studied suggests better opportunities of investments via international diversification making Islamic funds more desirable.

scholarly journals New historical data for long-term swordfish ecological studies in the Mediterranean Sea

2021 ◽  
Vol 13 (12) ◽  
pp. 5867-5877
Author(s):  
Brian R. MacKenzie ◽  
Teresa Romeo ◽  
Piero Addis ◽  
Pietro Battaglia ◽  
Pierpaolo Consoli ◽  
...  
Keyword(s):  
Mediterranean Sea ◽  
Fishery Management ◽  
Data Availability ◽  
Knowledge Based ◽  
Time Period ◽  
Before And After ◽  
Trap Fishery ◽  
History Of ◽  
The Mediterranean

Abstract. Management of marine fisheries and ecosystems is constrained by knowledge based on datasets with limited temporal coverage. Many populations and ecosystems were perturbed long before scientific investigations began. This situation is particularly acute for the largest and commercially most valuable species. We hypothesized that historical trap fishery records for bluefin tuna (Thunnus thynnus Linnaeus, 1758) could contain catch data and information for other, bycatch species, such as swordfish (Xiphias gladius Linnaeus, 1758). This species has a long history of exploitation and is presently overexploited, yet indicators of its status (biomass) used in fishery management only start in 1950. Here we examine historical fishery records and logbooks from some of these traps and recovered ca. 110 years of bycatch data (1896–2010). These previously neglected, but now recovered, data include catch dates and amounts in numbers and/or weights (including individual weights) for the time period before and after major expansion of swordfish fisheries in the Mediterranean Sea. New historical datasets such as these could help understand how human activities and natural variability interact to affect the long-term dynamics of this species. The datasets are online and available with open access via three DOIs, as described in the “Data availability” section of the article.

From “Calling in Black” to “Calling for Antiracism Resources”: the need for systemic resources to address systemic racism

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Courtney L. McCluney ◽  
Danielle D. King ◽  
Courtney M. Bryant ◽  
Abdifatah A. Ali
Keyword(s):  
Design Methodology ◽  
White Supremacy ◽  
Organizational Structures ◽  
Systemic Racism ◽  
Organizational Research ◽  
Content Type ◽  
History Of ◽  
Standards And Guidelines ◽  
Practical Implications

PurposeThe purpose of this essay is to highlight the urgent need for antiracism resource generation in organizations today.Design/methodology/approachThis essay weaves together popular press articles, academic writings and the authors' lived experiences to summarize, clarify and extend the work needed inside of organizations and academia to dismantle systemic racism.FindingsWe define antiracist resources as personal and material assets that counteract systemic racism through informing and equipping antiracist actions, and identify three resources—adopting a long-term view for learning the history of racism, embracing discomfort to acknowledge racist mistakes and systematically assess how organizational structures maintain white supremacy—for organizations to address systemic racism.Research limitations/implicationsWhile there is a critical need for more antiracism research, there are standards and guidelines that should be followed to conduct that research responsibly with antiracism enacted in research design, methodology decisions and publication practices.Practical implicationsThe authors call for organizations to directly counter-racism via antiracism resources and offer examples for how these resources can inform and equip companies to create equitable workplaces.Originality/valueThis essay offers: (a) an updated, timely perspective on effective responses to systemic racism (e.g. police brutality and COVID-19), (b) a detailed discussion of antiracism resources and (c) specific implications for antiracism work in organizational research.

Competition's impact on research and development real activities earnings management

2020 ◽  
Vol 46 (8) ◽  
pp. 1081-1099 ◽  
Author(s):  
Russell Barber ◽  
Dana Hollie
Keyword(s):  
Research And Development ◽  
Earnings Management ◽  
Probability Model ◽  
Herfindahl Index ◽  
Content Type ◽  
Short Run ◽  
Rival Firms ◽  
Earnings Targets ◽  
Linear Probability

PurposeThe purpose of this study is twofold: (1) to examine the incremental contribution of product market fluidity (P_THREAT), another measure of competition from that of the Herfindahl index (H_COMP) and (2) to examine how a research and development (R&D) real activities earnings management strategy to meet an earnings target is influenced by competition.Design/methodology/approachUsing a linear probability model, we test whether P_THREAT is incremental to the H_COMP competition measure and whether it influences the likelihood of firms using abnormally low R&D real activities earnings management to meet an earnings target.FindingsWe find that P_THREAT is incrementally informative to the commonly used Herfindahl measure of competition in predicting abnormally low R&D real activities earnings management activities. This finding is consistent with the notion of examining P_THREAT because the Herfindahl index alone may be incomplete, depending on the product makeup of a company. The negative coefficient suggests that reducing discretionary spending on R&D in the short run could have a detrimental effect on long-term profits because bypassed R&D opportunities would put firms at a disadvantage with their competitors' R&D efforts. In contrast, we find that firms are more likely to use R&D activities earnings management as a mechanism to meet an earnings target when P_THREAT is high. This suggests that when high competitive pressure exists, firms are more likely to use abnormally low R&D as a mechanism to meet an earnings target.Originality/valueWe specifically focus on R&D activities earnings management because our primary competition measure, P_THREAT, captures changes in rival firms' products relative to the firm. Because R&D is primarily what drives product change, R&D is the type of real activities earnings management that is most relevant to our competition measure. Hence, this study contributes to the literature by examining how competition influences the likelihood of firms possibly engaging in R&D activities earnings management and meeting earnings targets in the presence of P_THREAT competition.

Exchange rate volatility and exports from India: a commodity-level panel data analysis

2019 ◽  
Vol 12 (1) ◽  
pp. 23-44
Author(s):  
Chandan Sharma
Keyword(s):  
Exchange Rate ◽  
Panel Data ◽  
Exchange Rate Volatility ◽  
Nominal Exchange Rate ◽  
Exchange Rate Risk ◽  
Content Type ◽  
Long Run ◽  
Short Run ◽  
The Relationship

PurposeThis study aims to examine the relationship between exchange rate risk and export at commodity level for the Indian case.Design/methodology/approachThe monthly panel data used for analysis are at a disaggregated level, which cover around 100 products, encompassing all merchandize sectors for the period spanning from 2012:12 to 2017:11. To measure the exchange rate volatility, the authors use real as well as nominal exchange rate concepts and predict the volatility of exchange rate using the autoregressive conditional heteroscedastic-based model. They use pooled mean group, mean group and common correlated effects mean group estimator that is suitable for the objectives and data frequency.FindingsThe empirical analysis indicates both short- and long-term negative effects of exchange rate variations on exporting. Specifically, in the long run, real exchange rate as well as nominal exchange rate volatility has significant effects on export performance, yet, the effects of uncertainty of nominal exchange rate is much severe and intense. In the short run, it is the nominal exchange rate uncertainty that hurts exports from India. Nevertheless, the short-run effect is much lesser than the long-run, supporting the argument that the short-term exchange rate risk can be hedged, at least partially, through financial instruments; however, uncertainty of the long-term horizon cannot be hedged easily and cost-effectively.Practical implicationsReducing uncertainty and attaining stability in exchange rate and price level should be an important policy objective in developing countries such as India to achieve higher export growth, both in the short and long run.Originality/valueUnlike previous studies, this paper tests the relationship using micro-level data and uses advanced econometric techniques that are likely to provide more precise information regarding the association between exchange rate volatility and trade flows.

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