Young people school-to-work transition in the aftermath of the Arab Spring

2019 ◽  
Vol 40 (3) ◽  
pp. 398-432 ◽  
Author(s):  
Irene Selwaness ◽  
Rania Roushdy
Keyword(s):  
Labor Market ◽  
Financial Crisis ◽  
Young People ◽  
Global Financial Crisis ◽  
School To Work ◽  
School To Work Transition ◽  
Content Type ◽  
Work Transition ◽  
The Global Financial Crisis ◽  
First Job

Purpose The purpose of this paper is to examine the school-to-work transition of young people from subsequent school exit cohorts between 2001 and 2012 in Egypt, thus, presenting an early evidence on the adjustments of the labor market in terms of patterns of youth transition to a first job following the 2011 Egyptian uprising. Design/methodology/approach The analysis compares the early employment outcomes of those who left school after the January 25, 2011 uprising to that of those who left before 2011. The authors also separately control for the cohorts who left school in 2008 and 2009, in an attempt to disentangle any labor market adjustments that might have happened following the financial crisis, and before the revolution. Using novel and unexploited representative data from the 2014 Survey of Young People in Egypt (SYPE), the authors estimate the probability of transition to any first job within 18 months from leaving education and that of the transition to a good-quality job, controlling for the year of school exit. The authors also estimate the hazard of finding a first job and a good-quality job using survival analysis. Findings School exit cohorts of 2008–2009 (following the financial crisis) and those of 2011–2012 (in the aftermath of the 2011 uprisings) experienced a significantly higher likelihood of finding a first job within 18 months than that of the cohorts of 2001–2007. However, this came at the expense of the quality of job, conditional on having found a first job. The results of the hazard model show that school leavers after 2008 who were not able to transition to a job shortly after leaving school experienced longer unemployment spells than their peers who left school before 2007. The odds of finding a good-quality job appears to decline with time spent in non-employment or in a bad-quality first job. Originality/value This paper contributes to a limited, yet growing, literature on how school-to-work transition evolved during the global financial crisis and the Egyptian 2011 revolution. Using data from SYPE 2014, the most recent representative survey conducted in Egypt on youth and not previously exploited to study youth school-to-work transition, the paper investigates the short-term adjustments of the youth labor market opportunities during that critical period of Egypt and the region’s history.

scholarly journals Does the first job affect current youth working status in Bangladesh?

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Chiara Mussida ◽  
Dario Sciulli
Keyword(s):  
Labor Market ◽  
A Priori ◽  
Multinomial Distribution ◽  
School To Work ◽  
School To Work Transition ◽  
Content Type ◽  
Work Transition ◽  
Entry Status ◽  
First Job ◽  
The Impact

PurposeThis paper evaluates how the first job when individuals entered the labor market affects the probability of youth being currently employed in formal or informal work in Bangladesh.Design/methodology/approachThe analysis is based on data from the ILO School-to-Work Transition Surveys. The authors use a full-information maximum likelihood approach to estimate a two-equation model, which accounts for selection into the labor market when estimating the impact of entry status on current work outcomes. The main equation outcome follows a multinomial distribution thus avoiding a priori assumptions about the level of individual’s utility associated with each work status.FindingsThe authors find that entering the labor market in a vulnerable employment position (i.e. contributing family work or self-employment) traps into vulnerable employment and prevents the transition to both informal and, especially, formal paid work. This finding holds when accounting for endogeneity of the entry status and it is valid both in the short and in the long run. Young women are less likely to enter the labor market, and once entered they are less likely to access formal paid wok and more likely to being inactive than young men. Low education anticipates the entry in the labor market, but it is detrimental for future employment prospects.Originality/valueThe findings indicate the presence of labor market segmentation between vulnerable and non-vulnerable employment and suggest the endpoint quality of the school-to-work transition is crucial for later employment prospects of Bangladeshi youth.

Financial distress determinants among SMEs: empirical evidence from Sweden

2020 ◽  
Vol 47 (3) ◽  
pp. 547-560 ◽  
Author(s):  
Darush Yazdanfar ◽  
Peter Öhman
Keyword(s):  
Financial Crisis ◽  
Financial Distress ◽  
Large Scale ◽  
Global Financial Crisis ◽  
Binary Logistic Regression ◽  
Data Availability ◽  
Cross Sectional ◽  
Data Set ◽  
Content Type ◽  
The Global Financial Crisis

PurposeThe purpose of this study is to empirically investigate determinants of financial distress among small and medium-sized enterprises (SMEs) during the global financial crisis and post-crisis periods.Design/methodology/approachSeveral statistical methods, including multiple binary logistic regression, were used to analyse a longitudinal cross-sectional panel data set of 3,865 Swedish SMEs operating in five industries over the 2008–2015 period.FindingsThe results suggest that financial distress is influenced by macroeconomic conditions (i.e. the global financial crisis) and, in particular, by various firm-specific characteristics (i.e. performance, financial leverage and financial distress in previous year). However, firm size and industry affiliation have no significant relationship with financial distress.Research limitationsDue to data availability, this study is limited to a sample of Swedish SMEs in five industries covering eight years. Further research could examine the generalizability of these findings by investigating other firms operating in other industries and other countries.Originality/valueThis study is the first to examine determinants of financial distress among SMEs operating in Sweden using data from a large-scale longitudinal cross-sectional database.

Global financial crisis, ownership structure and firm financial performance

2017 ◽  
Vol 34 (4) ◽  
pp. 447-465 ◽  
Author(s):  
Ali Salman Saleh ◽  
Enver Halili ◽  
Rami Zeitun ◽  
Ruhul Salim
Keyword(s):  
Financial Crisis ◽  
Financial Performance ◽  
Ownership Structure ◽  
Family Firms ◽  
Global Financial Crisis ◽  
Ownership Concentration ◽  
Financial Leverage ◽  
Content Type ◽  
Crisis Period ◽  
The Global Financial Crisis

Purpose This paper aims to investigate the financial performance of listed firms on the Australian Securities Exchange (ASX) over two sample periods (1998-2007 and 2008-2010) before and during the global financial crisis periods. Design/methodology/approach The generalized method of moments (GMM) has been used to examine the relationship between family ownership and a firm’s performance during the financial crisis period, reflecting on the higher risk exposure associated with capital markets. Findings Applying firm-based measures of financial performance (ROA and ROE), the empirical results show that family firms with ownership concentration performed better than nonfamily firms with dispersed ownership structures. The results also show that ownership concentration has a positive and significant impact on family- and nonfamily-owned firms during the crisis period. In addition, financial leverage had a positive and significant effect on the performance of Australian family-owned firms during both periods. However, if the impact of the crisis by sector is taking into account, the financial leverage only becomes significant for the nonmining family firms during the pre-crisis period. The results also reveal that family businesses are risk-averse business organizations. These findings are consistent with the underlying economic theories. Originality/value This paper contributes to the debate whether the ownership structure affects firms’ financial performance such as ROE and ROA during the global financial crisis by investigating family and nonfamily firms listed on the Australian capital market. It also identifies several influential drivers of financial performance in both normal and crisis periods. Given the paucity of studies in the area of family business, the empirical results of this research provide useful information for researchers, practitioners and investors, who are operating in capital markets for family and nonfamily businesses.

Shadow prices of non-performing loans and the global financial crisis

2019 ◽  
Vol 20 (5) ◽  
pp. 411-434
Author(s):  
Ameni Tarchouna ◽  
Bilel Jarraya ◽  
Abdelfettah Bouri
Keyword(s):  
Financial Crisis ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Shadow Price ◽  
Market Price ◽  
Shadow Prices ◽  
Content Type ◽  
Managerial Implications ◽  
Bad Loans ◽  
The Global Financial Crisis

Purpose This paper aims to determine the opportunity cost borne by US commercial banks to reduce non-performing loans (NPLs) by one unit within the global financial crisis framework. Design/methodology/approach To achieve this aim, the authors use the directional output distance function to estimate the technical efficiency while considering NPLs as undesirable output. Then, they estimate the shadow prices of NPLs by using the envelope theorem and solving the revenue function. Findings The results indicate that medium-sized banks are the most efficient, while small banks are the most inefficient ones. Moreover, the shadow prices of NPLs of large banks are higher than those of small and medium-sized banks. This implies a more elevated cost when lessening bad loans in large banks. This is more prominent during the crisis given that the shadow prices of NPLs of large banks have risen sharply over that period. Practical implications Shadow prices have important managerial implications given that they display the amounts of required reduced revenues to lessen NPLs. Accordingly, banks’ managers are called to reduce these loans by paying more attention when choosing their customers. Originality/value With the absence of an observable market price for bad loans in financial literature, the shadow price notion offers an adequate measure to evaluate them. To the best of authors’ knowledge, this is the first study that provides an estimation of the shadow price of NPLs in the US banking sector.

University dropouts vs high school graduates in the school-to-work transition

2019 ◽  
Vol 40 (3) ◽  
pp. 449-472 ◽  
Author(s):  
Emanuela Ghignoni ◽  
Giuseppe Croce ◽  
Alessandro d’Ambrosio
Keyword(s):  
High School ◽  
Labour Market ◽  
High School Graduates ◽  
School To Work ◽  
Dropping Out ◽  
Market Outcomes ◽  
School To Work Transition ◽  
Content Type ◽  
Work Transition ◽  
Labour Market Outcomes

Purpose The purpose of this paper is to consider the enrolment at university and the subsequent possible dropout as a piece of the school-to-work transition and ask whether it improves or worsens the labour market outcomes a few years after graduation from the high school. Design/methodology/approach The analysis exploits data from the upper secondary graduate survey by ISTAT on a cohort of high school graduates and investigates the effect of dropping out four years after graduation. The labour market outcomes of university dropouts are compared to the outcomes of high school graduates who never enrolled at university. A propensity score matching approach is applied. The model is also estimated on the subsamples of males and females. Findings The findings show that spending a period at university and leaving it before completion makes the transition to work substantially more difficult. Both the probability of being NEET and getting a bad job increase in the case of dropout, while no relevant effect is found on earnings. Moreover, the impact of university dropout tends to be more harmful the longer the spell from enrolment to dropping out. Separate estimates by gender point out that females appear to be relatively more affected in the case of dropping out without a fallback plan. Originality/value While the existing studies in the literature on the school-to-work transition mostly focus on the determinants of the dropout, this paper investigates whether and how the employment outcomes are affected by dropping out in Italy. Moreover, university dropouts are compared to high school graduates with no university experience, rather than to university graduates. Finally, evidence on the mechanisms driving the effect of dropping out is provided, by considering timing and motivations for dropping out.

scholarly journals Evolution of German corporate governance (1995-2014): an empirical analysis

2019 ◽  
Vol 19 (5) ◽  
pp. 1042-1062
Author(s):  
Andreas Rühmkorf ◽  
Felix Spindler ◽  
Navajyoti Samanta
Keyword(s):  
Corporate Governance ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Governance System ◽  
Content Type ◽  
Convergence Process ◽  
Corporate Governance System ◽  
Anglo American ◽  
The Stability ◽  
The Global Financial Crisis

Purpose This paper aims to address the evolution of corporate governance in Germany with a particular regard to whether there can be observed a gradual convergence to a shareholder primacy corporate governance system. Design/methodology/approach To investigate a potential shift of the German corporate governance system to an Anglo-American tiled corporate governance system, the authors have empirically assessed on a polynomial base 52 separate company and corporate governance variables for 20 years (1995-2014). Findings This research suggests that a gradual convergence has taken place prior to the global financial crisis. However, the results suggest that the convergence process experienced a slowdown in the aftermath of the global financial crisis, which may be linked to the stability of the German corporate governance system during the global financial crisis and the political environment during this time. Originality/value This paper contributes to the research by not only analysing the development of the German corporate governance system but also identifying new reasons for this development and explaining why a new convergence process may be observed in the future again.

Proactive and reactive strategies deployed by restaurants in times of crisis

2015 ◽  
Vol 27 (7) ◽  
pp. 1641-1661 ◽  
Author(s):  
María del Mar Alonso-Almeida ◽  
Kerstin Bremser ◽  
Josep Llach
Keyword(s):  
Financial Crisis ◽  
Competitive Advantage ◽  
Dynamic Capabilities ◽  
Global Financial Crisis ◽  
Small Sample ◽  
Content Type ◽  
Organizational Effects ◽  
Subsequent Effect ◽  
One Year ◽  
The Global Financial Crisis

Purpose – This study aims to examine the development of dynamic capabilities and their effect on the competitive advantage of restaurants in 2009, one year after the beginning of the global financial crisis. Design/methodology/approach – The restaurants were personally surveyed to discern the importance of proactive and reactive strategies for the organization. The resulting two organizational effects – cost cutting and the development of dynamic capabilities – were tested for their influence on competitive advantage. Findings – The findings show that both proactive and reactive strategies reduce costs; however, only proactive strategies develop dynamic capabilities that improve competitive advantage. Research limitations/implications – The conclusions are drawn from a small sample of restaurants in Madrid, the capital of Spain. Given that Madrid enjoys a higher standard of living and greater business expenditures than other cities, the results may not be generalizable to the rest of the country or to other southern European capitals. Practical implications – Managers must use proactive strategies for companies to survive during times of crisis. A focus on proactive strategies will improve a company’s competitive position. Social implications – Policy makers should support the development of proactive strategies and provide an adequate infrastructure of counseling and network creation. Originality/value – To the best of our knowledge, no previous research specifically analyzes both the type of strategy deployed and its subsequent effect on dynamic capabilities and the consequences of the strategy on competitive advantage during a financial crisis.

Framing and blaming in times of economic crisis

2014 ◽  
Vol 13 (4) ◽  
pp. 814-836 ◽  
Author(s):  
Jill C. Murray
Keyword(s):  
Life Cycle ◽  
Financial Crisis ◽  
Economic Crisis ◽  
Prime Minister ◽  
Global Financial Crisis ◽  
Diffusion Resistance ◽  
Critical Periods ◽  
Critical Approach ◽  
Content Type ◽  
The Global Financial Crisis

This article takes a critical approach to the language used by Australian politicians during the global financial crisis of 2007–8. Critical periods in history provide a rich substrate for the appearance of new expressions with the potential to frame the debate, influencing the ways events are interpreted and blame attributed. Passing unnoticed into usage, such memes have the potential to become part of unexamined background knowledge and covertly co-opt hearers and users into shared systems of value and belief. The study focusses on one specific neologism deployed by opposition politicians, firstly in an attempt to create the erroneous impression that a recession was occurring and secondly that it was the fault of the Australian Prime Minister, Kevin Rudd. Patterns of occurrence were tracked against local and international events, indicating a life cycle with several distinct phases: chance emergence, a strategic deployment, cross-genre diffusion, resistance and eventual rejection.

Taking the ethical lead

2020 ◽  
Vol 34 (4) ◽  
pp. 37-39
Keyword(s):  
Financial Crisis ◽  
Oil Spill ◽  
Design Methodology ◽  
Reading Time ◽  
Global Financial Crisis ◽  
Content Type ◽  
Lehman Brothers ◽  
Pertinent Information ◽  
The Global Financial Crisis ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds his/her own impartial comments and places the articles in context. Findings Take any financial or environmental scandal perpetrated by a major company – and unfortunately, there are quite a few to choose from – and people will tend to remember what went wrong and some of the fallout from the scandal, but it is unlikely they will know much about why something went wrong. For example, people will remember that Lehman Brothers went bust during the global financial crisis (GFC) in 2008 and can picture its employees leaving its offices with Iron Mountain boxes. They will also perhaps remember the Exxon Valdez oil spill in Alaska in 1989, and the devastation it caused the local wildlife. But does anyone remember exactly why these events occurred? Practical implications This paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

House prices and credit cycles: the case of Cyprus

2020 ◽  
Vol 38 (6) ◽  
pp. 539-550
Author(s):  
Dario Pontiggia ◽  
Petros Stavrou Sivitanides
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
House Prices ◽  
House Price ◽  
Equation Model ◽  
Housing Demand ◽  
Content Type ◽  
Bank Deposits ◽  
The Global Financial Crisis ◽  
Practical Implications

PurposeThe purpose of this paper is to assess whether the rapid accumulation of bank deposits before the global financial crisis and their subsequent drastic reduction was the main driving force of the Cyprus house price cycle over the period 2006–2015.Design/methodology/approachTo this aim we estimate a three-equation model in which house prices are determined by housing loans, among other factors, and housing loans are determined by bank deposits. All equations are estimated using partial adjustment model specifications.FindingsOur findings indicate that housing loans, which capture the effect of credit availability on housing demand, had the smallest effect on house prices, thus providing little support to our proposition of a deposits-driven cycle in house prices.Research limitations/implicationsThe main limitation of the study is the use of the housing loan stock instead of the actual volume of housing loans in each period due to lack of such data. As a result our econometric estimates may not accurately capture the magnitude of the effect of housing loans on house prices.Practical implicationsThe study has important practical implications for policy makers as it highlights the importance of availability of credit in supporting effective demand for housing during periods of economic growth. Furthermore, it highlights the key role of house price increases in combination with the collateral effect in driving the house price cycle.Originality/valueThis is among the few studies internationally and the first study in Cyprus that attempts to link econometrically the credit and house price cycles that were caused by the global financial crisis.

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