What drives the healthcare sector's economic impact? Evidence from European countries

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Timotej Jagric ◽  
Stefan Otto Grbenic ◽  
Vita Jagric
Keyword(s):  
Economic Impact ◽  
Healthcare Expenditure ◽  
Value Added ◽  
European Countries ◽  
Healthcare Sector ◽  
Content Type ◽  
Positive Effects ◽  
Employment Multiplier ◽  
Dependent Variables ◽  
Macroeconomic Impact

PurposeWith high public debts and suffering economies after the COVID-19 pandemic, governments will look for ways to promote recovery. Literature substantially reports on the favorable macroeconomic impact of the healthcare sector.Design/methodology/approachThe authors use data on 19 European countries. Over 30 variables are analyzed to find factors that foster or suppress the economic impact of the healthcare sector. The economic impact is thereby expressed through five types of total multipliers, acting as dependent variables. The authors estimate multiple econometric models.FindingsThe results indicate factors that intensify or reduce the economic impact of the healthcare sector as they cause the value of one or more economic multipliers to augment or to diminish. Positive effects are expected from the growth of public funds' share in total healthcare expenditure leading to a higher output, income and value-added multipliers. The import multiplier diminishes when expenditure on healthcare as percent of GDP rises. On the other hand, rising expenditure on pharmaceuticals in the share of healthcare expenditure lowers the output multiplier. Rising GDP per capita and higher healthcare systems' technical efficiency cause the employment multiplier to lower.Originality/valuePolicymakers can strengthen the economic impact of the healthcare sector on the national economy. This could be achieved by stimulating factors, being identified in our study. Strengthening the economic impact of the healthcare sector is especially welcomed when fostering economic recovery is needed.

Improvement of laboratory turnaround time using lean methodology

2018 ◽  
Vol 31 (4) ◽  
pp. 295-308 ◽  
Author(s):  
Shradha Gupta ◽  
Sahil Kapil ◽  
Monica Sharma
Keyword(s):  
Clinical Laboratory ◽  
Value Added ◽  
Turnaround Time ◽  
Industrial Engineering ◽  
Healthcare Sector ◽  
Value Stream Mapping ◽  
Content Type ◽  
Laboratory Staff ◽  
Tools And Techniques

Purpose The purpose of this paper is to discuss the implementation of lean methodology to reduce the turnaround time (TAT) of a clinical laboratory in a super speciality hospital. Delays in report delivery lead to delayed diagnosis increased waiting time and decreased customer satisfaction. The reduction in TAT will lead to increased patient satisfaction, quality of care, employee satisfaction and ultimately the hospital’s revenue. Design/methodology/approach The generic causes resulting in increasing TAT of clinical laboratories were identified using lean tools and techniques such as value stream mapping (VSM), Gemba, Pareto Analysis and Root Cause Analysis. VSM was used as a tool to analyze the current state of the process and further VSM was used to design the future state with suggestions for process improvements. Findings This study identified 12 major non-value added factors for the hematology laboratory and 5 major non-value added factors for the biochemistry lab which were acting as bottlenecks resulting in limiting throughput. A four-month research study by the authors together with hospital quality department and laboratory staff members led to reduction of the average TAT from 180 to 95minutes in the hematology lab and from 268 to 208 minutes in the biochemistry lab. Practical implications Very few improvement initiatives in Indian healthcare are based on industrial engineering tools and techniques, which might be due to a lack of interaction between healthcare and engineering. The study provides a positive outcome in terms of improving the efficiency of services in hospitals and identifies a scope for lean in the Indian healthcare sector. Social implications Applying lean in the Indian healthcare sector gives its own potential solution to the problem caused, due to a wide gap between lean accessibility and lean implementation. Lean helped in changing the mindset of an organization toward providing the highest quality of services with faster delivery at an optimal cost. Originality/value This paper is an effort to reduce the gap between healthcare and industrial engineering and enhancing the use of lean practices in Indian healthcare. The study is motivated toward implementing lean methodology successfully in services.

Serious games in K-12 education

2017 ◽  
Vol 51 (4) ◽  
pp. 424-440 ◽  
Author(s):  
George Papanastasiou ◽  
Athanasios Drigas ◽  
Charalabos Skianis ◽  
Miltiadis D. Lytras
Keyword(s):  
Developmental Disabilities ◽  
Serious Games ◽  
Value Added ◽  
Educational Needs ◽  
Small Sample ◽  
Special Educational Needs ◽  
Content Type ◽  
Positive Effects ◽  
Attention Memory ◽  
K 12

Purpose The purpose of this paper is to explore the integration of serious games (SGs) in the area of special educational needs in the last ten years (2007-2017). Design/methodology/approach SGs indicate positive effects on students with special educational needs and promote a multi-sensory style of learning. Findings Research showed that SGs are able to keep K-12 education students with attention, memory and developmental disabilities engaged in classroom facilities scaffolding their learning through increased motivation, independence, autonomy and resultant self-esteem. Research limitations/implications Time constraints, cost and availability of appropriate games as well as the small sample of the individuals being investigated are some of the research limitations the paper refers to. Practical implications Learning through SGs has educational values that are based on learning concepts intrinsically motivating. Social implications Students with attention, memory and developmental disabilities demonstrate characteristics of engagement, creativity, control and communication. Originality/value SGs-based learning has proven its value added to students with attention, memory and executive control difficulties as well as mental or developmental disabilities engaging students better than when using traditional methods.

Syrian reconstruction plans may block refugee return

2018 ◽  
Keyword(s):  
Economic Impact ◽  
Demographic Change ◽  
European Countries ◽  
Syrian Refugees ◽  
The South ◽  
Government Formation ◽  
Content Type ◽  
International Awareness ◽  
Political Settlement

Significance Amman already hosts 667,000 registered Syrian refugees and many more unregistered; like neighbours Beirut and Ankara, it is increasingly worried about the economic impact and whether repatriation will ever be possible. These concerns were exacerbated after Damascus on April 4 passed Law 10, facilitating the expropriation of land for reconstruction. Impacts Military victories in the south and northwest could encourage Damascus to implement Law 10 sooner rather than later. Implementation could complicate government formation in Lebanon, where refugee return is a highly emotive topic. Lebanese Christians concerned about demographic change could blame Damascus’s ally Hezbollah and President Michel Aoun for blocked returns. Growing international awareness of the property issue could force European countries to push for a Syrian political settlement.

scholarly journals Entrepreneurial dynamics and investor-oriented approaches for regulating the equity-based crowdfunding

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Antonella Francesca Cicchiello ◽  
Maria Cristina Pietronudo ◽  
Daniele Leone ◽  
Andrea Caporuscio
Keyword(s):  
European Countries ◽  
Key Factors ◽  
Content Type ◽  
Positive Effects ◽  
Equity Crowdfunding ◽  
The Uk ◽  
Practical Implications ◽  
Entrepreneurial Dynamics

PurposeThe aim of this research is to contribute to the existing literature about the entrepreneurial conditions in crowd-based contexts by describing how different European countries regulate equity crowdfunding market in order to incentive the investments and protect investors.Design/methodology/approachBased on a legal acts' analysis, we conduct a qualitative study comparing the crowdfunding regulation addressed to investors. In particular, we focus our analysis on the European countries with the highest concentration of crowdfunding platforms (i.e. the UK, Germany, France, Italy and Spain).FindingsThe results show that some countries, such as the UK, Germany and France, present an investor-oriented approach based on non-restrictive regulation, while other countries, such as Spain and Italy, have a restrictive approach that protects investors excessively and discourages them. In particular, the case study of France shows how the introduction of unrestricted regulation can produce positive effects on the volume of crowdfunding transactions.Practical implicationsThe paper is addressed to investors, policymakers and intermediaries (platforms) to help the first in orienting themselves between the different crowdfunding regulations and the latter in aligning and orchestrating rules and norms.Originality/valueThis is the first study that analyses the role of investor-oriented regulations in the promotion of entrepreneurship through the identification of four key factors to monitor equity crowdfunding regulations.

Determinants of loan demand in agriculture: empirical evidence from Germany

2016 ◽  
Vol 76 (4) ◽  
pp. 462-476 ◽  
Author(s):  
Wilm Fecke ◽  
Jan-Henning Feil ◽  
Oliver Musshoff
Keyword(s):  
Interest Rate ◽  
Value Added ◽  
Climate Index ◽  
Data Set ◽  
German Development ◽  
Content Type ◽  
Farm Level ◽  
Positive Effects ◽  
Loan Demand ◽  
The Interest Rate

Purpose The purpose of this paper is to empirically investigate the influencing factors of loan demand in agriculture. With the structural changes that agriculture is undergoing and the accordingly higher financing requirements and volumes, the analysis of loan demand in agriculture is of particular interest. Design/methodology/approach Detailed actual loan data at farm level, which is provided by a major German development bank for the agricultural sector, is used for the analysis. The data set covers the period from 2010 to 2014 and consists of 68,430 observations. Due to the data structure, an ordinary least square regression is conducted with the loan amount as the dependent variable. Many explanatory variables are included, such as the interest rate, the intended use of the loan, grace periods, the gross value added (GVA) and the business climate index for agriculture. Findings Amongst others, the authors find that interest rate, GVA, grace periods and farmers’ business expectations have significant effects on the loan demand in agriculture. According to the results, the interest rate has a significant negative effect, whereas the granted grace periods, the GVA in agriculture and farmers’ business expectations have significant positive effects on the loan demand. Originality/value This paper investigates the determinants of loan demand in agriculture in a developed country by using unique and comprehensive data at loan and farm level. Amongst others, elasticities of loan demand in agriculture are determined.

scholarly journals Should bankers be concerned with Intellectual capital? A study of the Thai banking sector

2018 ◽  
Vol 19 (5) ◽  
pp. 897-914 ◽  
Author(s):  
Dai Binh Tran ◽  
Duc Hong Vo
Keyword(s):  
Financial Performance ◽  
Intellectual Capital ◽  
Fixed Effects ◽  
Banking Sector ◽  
Causal Effect ◽  
Generalized Method Of Moments ◽  
Value Added ◽  
Bank Profitability ◽  
Content Type ◽  
Positive Effects

Purpose The purpose of this paper is to examine the causal effect of intellectual capital (IC) performance on financial performance at Thai listed banks. Design/methodology/approach Data are collected from 16 listed banks in Thailand for the period 1997–2016. This paper uses the value-added intellectual coefficient methodology suggested by Pulic (1998, 2004) to measure IC. This study employs a fixed-effects and random-effects model and generalized method of moments (GMM) estimator to investigate the causal effect of IC on financial performance. Findings The results show that bank profitability is driven mainly by capital employed efficiency to make a profit. However, human capital efficiency marginally reduces bank profitability in the current period but has positive effects on future profitability. Research limitations/implications First, this study does not cover data on foreign banks, which reduces the generalizability of the results. Second, financial statements can be manipulated through accounting adjustments. Lastly, subsequent research should control for more bank characteristics, such as bank ownership, the non-performing loan ratio and R&D expenditure. Practical implications To achieve higher future profitability, banks should not only manage their physical and financial capital effectively but also improve employee efficiency. Originality/value This paper contributes to the literature on IC in the banking sector in emerging countries. Moreover, this paper is the first to employ the GMM method in the banking context to address possible endogeneity problems.

Nexus between intellectual capital and profitability with interaction effects: panel data evidence from the Indian healthcare industry

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ranjit Tiwari
Keyword(s):  
Intellectual Capital ◽  
Corporate Performance ◽  
Developing Economies ◽  
Value Added ◽  
Interaction Effects ◽  
Healthcare Sector ◽  
Healthcare Industry ◽  
Political Regimes ◽  
Content Type ◽  
The Impact

PurposeThis study seeks to understand the nexus between intellectual capital and profitability of healthcare firms in India with interaction effects.Design/methodology/approachRelevant data were extracted from the Centre for Monitoring Indian Economy (CMIE)'s Prowess database for a period of ten years 2009–2018 for a sample of 84 selected firms from the healthcare industry. This study uses value added intellectual coefficient (VAIC) and modified value added intellectual coefficient (MVAIC) as a measure of intellectual capital. Further, the study employs panel regression techniques to explore the relationship between intellectual capital and profitability.FindingsThe empirical findings reveal that the intellectual capital coefficient of healthcare firms in India averages 2.7757. It is also observed that a majority of the healthcare firms' intellectual capital coefficient is below the industry average. From the regression analysis, it is evident that the intellectual capital coefficient is positively related to the profitability of healthcare firms in India. As far as the components of intellectual capital coefficient are concerned, the capital employed coefficient (CEC) is the only component driving the profitability of healthcare firms in India. A further introduction of interaction terms improves model explainability and moderates the impact of the predictor variable on the response variable. Furthermore, it is observed that the intellectual capital coefficient of the healthcare industry is immune to changes in political regimes in India.Practical implicationsThe findings reveal that intellectual capital is an important driver of corporate performance, thus healthcare firms in developing economies like India need to enhance their intellectual potential. Therefore, corporates and governments in developing economies should stimulate investments in developing intellectual capital for enhanced corporate performance and economic growth. Thus, this study might be used as a reference by policymakers while drafting the future policy for the development of intellectual capital in general and healthcare sector specifically.Originality/valueThis is among the first few studies to explore such an empirical relationship for healthcare firms in India and among the few studies of this kind across the globe. It also makes novel contributions in considering interaction variables and seeking the consistency of results across different political regimes. However, the study examines one nation and one industry; thus, the generalisation of findings requires caution.

scholarly journals The impact of entrepreneurship on knowledge economy in Africa

2016 ◽  
Vol 8 (1) ◽  
pp. 101-131 ◽  
Author(s):  
Simplice A. Asongu ◽  
Vanessa S. Tchamyou
Keyword(s):  
Knowledge Economy ◽  
Value Chain ◽  
Fixed Effects ◽  
Agricultural Practices ◽  
Value Added ◽  
High Tech ◽  
African Countries ◽  
Content Type ◽  
Positive Effects ◽  
The Impact

Purpose – This paper aims to assess how entrepreneurship affects knowledge economy (KE) in Africa. Design/methodology/approach – Entrepreneurship is measured by indicators of starting, doing and ending business. The four dimensions of the World Bank’s index of KE are used. Instrumental variable panel-fixed effects are applied on a sample of 53 African countries for the period of 1996-2010. Findings – The following are some of the findings. First, creating an enabling environment for starting business can substantially boost most dimensions of KE. Second, doing business through mechanisms of trade globalization has positive effects from sectors that are not information and communication technology (ICT) and high-tech oriented. Third, the time required to end business has negative effects on KE. Practical implications – The findings confirm the narrative that the technology in African countries at the moment may be more imitative and adaptive for reverse engineering in ICTs and high-tech products. Given the massive consumption of ICT and high-tech commodities in Africa, the continent has to start thinking of how to participate in the global value chain of producing what it consumes. Originality/value – This paper has a twofold motivation. First, given the ambitions of African countries of moving towards knowledge-based economies, the line of inquiry is timely. Second, investigating the nexus may have substantial poverty mitigation and sustainable development implications. These entail, inter alia, the development of technology with value-added services; enhancement of existing agricultural practices; promotion of conditions that are essential for competitiveness; and adjustment to globalization challenges.

Effects of Compassion on Employees' Self-regulation

2016 ◽  
Vol 44 (7) ◽  
pp. 1173-1190 ◽  
Author(s):  
Hyung Jin Choi ◽  
Sangmin Lee ◽  
Se-Ri No ◽  
Eung Il Kim
Keyword(s):  
Theoretical Model ◽  
Self Efficacy ◽  
Negative Emotions ◽  
Self Regulation ◽  
Self Esteem ◽  
Workplace Deviance ◽  
Intention To Quit ◽  
Mediating Effects ◽  
Positive Effects ◽  
Dependent Variables

We examined how compassion can alleviate employees' negative emotions, behaviors, and thoughts. On the basis of self-regulatory resources theory, we hypothesized that there would be relationships between the 2 mediating variables of self-esteem and self-efficacy, and the dependent variables of anxiety, burnout, workplace deviance, and intention to quit. We collected data on these variables from 284 nurses, who work in a stressful job that necessitates compassion from colleagues, to test our theoretical model. The results revealed that compassion alleviated negative emotions (anxiety and burnout), behavior (workplace deviance), and thoughts (intention to quit), with both self-esteem and self-efficacy having mediating effects. Thus, we demonstrated the specific path through which compassion can have positive effects on an organization's employees. We discuss the observed relationship between compassion and self-regulation, and theoretical contributions regarding differences between self-esteem and self-efficacy, as well as between anxiety and burnout.

Socioeconomic effects of pension spending: evidence from Spain

2020 ◽  
Vol 47 (5) ◽  
pp. 599-617
Author(s):  
Fernando Bermejo ◽  
Eladio Febrero ◽  
Andre Fernandes Tomon Avelino
Keyword(s):  
Peer Review ◽  
Social Protection ◽  
Pension System ◽  
Decomposition Analysis ◽  
Value Added ◽  
Total Output ◽  
Alternative View ◽  
Input Output ◽  
Structural Decomposition Analysis ◽  
Content Type

PurposeThe purpose of this study is to provide broader understanding of the significant role that the pension system has in the Spanish economy by estimating the sectoral production, employment and income sustained by pensioners' consumption.Design/methodology/approachBased on input–output tables by the World Input–Output Database and consumption data from the Household Budget Survey by the Spanish Statistical Office, a demoeconomic model is applied to quantify the direct impacts, indirect impacts from interindustry links and induced impacts from income–consumption connections over a nine-year period (2006–2014). Then, the factors driving the evolution of total output, employment and value added during such period have been examined by using structural decomposition analysis.FindingsThe growing participation of consumption by pensioner households in final demand had proven crucial during the 2008 crisis to alleviate the negative trend in production and employment derived from the collapse in consumption suffered by the rest of households.Practical implicationsDetermining the underlying factors driving changes in both employment and income during the 2008 crisis can be of interest in political decision-making on the sustainability of the Spanish pension system.Social implicationsThe results of estimating both the employment and income supported by pensioners' consumption reveal the significant stabilizing effect of the public spending on pensions, particularly during the 2008 crisis.Originality/valueThe current Spanish approach of attaining the pension system sustainability by merely reducing social protection costs ignores the adverse consequences of a lower pensioners' demand. This paper addresses an alternative view in which pension spending is not considered a burden on economic growth but rather a means of improving the level of production and employment.Peer reviewThe peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-01-2019-0047

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