Market response towards different types of politically connected firms during political events: evidence from Malaysia

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Wai-Yan Wong ◽  
Chee-Wooi Hooy
Keyword(s):  
Asset Allocation ◽  
Market Response ◽  
Political Connection ◽  
Content Type ◽  
Political Events ◽  
Different Types ◽  
Short Run ◽  
Government Leader ◽  
The Government ◽  
Practical Implications

PurposeThis paper investigates the market responses towards four types of politically connected (PCON) firms during two political events – general election and change of leader in Malaysia.Design/methodology/approachThe authors capture the market response using cumulative abnormal return and further test it using regression analysis. The authors use a sample of 376 politically connected (PCON) and non-politically connected (non-PCON) firms from 2002 to 2013.FindingsThe market reacted negatively towards government-linked companies (GLC) during both events, showing that GLCs are negatively perceived by the market during political instability. On the other hand, the reaction of the market towards firms connected by businessmen does not differ from other firms. When compared to the findings of past literature, it shows the decreasing influence that businessmen have over the government leader. In further analysis, this study finds firms that are connected to the incoming government leader recorded a higher CAR as compared to firms connected to the outgoing government leader.Practical implicationsThe authors’ study offers several practical implications. Knowing how the market responds to the different types of political connections might prove beneficial to investors. With this information, investors can recognize stocks with potential returns before the event date and may consider buying or selling them to capture a short-term profit. The authors’ findings may also have important implications for the management of PCON firms in terms of implementing an effective risk management and asset allocation plan to safeguard their value during political events that may disrupt the stability of their firms.Originality/valueThis paper provides an insight on how the markets have a different perception towards different types of politically connected firms during short-run political events. Past studies usually categorize political connection into a single category. With this separation, the authors are able to see how their individual CAR differs from other types of PCON.

Political connections and firm value: an analysis of listed firms in Sri Lanka

2016 ◽  
Vol 28 (1) ◽  
pp. 92-106 ◽  
Author(s):  
Henk Berkman ◽  
Vidura Galpoththage
Keyword(s):  
Sri Lanka ◽  
Firm Value ◽  
Public Perception ◽  
Convincing Evidence ◽  
Political Connections ◽  
Political Connection ◽  
Content Type ◽  
Political Events ◽  
The Government ◽  
The Impact

Purpose – The purpose of this study is to use a portfolio-time-series approach to examine the impact of five important political events on the value of politically connected firms in Sri Lanka. Design/methodology/approach – This study examines five major political events to test if political connections affect market value of listed companies in Sri Lanka. Results show that despite numerous news articles and public perception suggesting otherwise, there is no convincing evidence which indicate that political connections increase firm value in Sri Lanka. Findings – The empirical results provide no evidence that political connections increase firm value in Sri Lanka. Further tests indicate that the government is not biased towards politically connected firms when granting major projects. The authors also fail to find a relation between Tobin’s Q and the level of political connection after including several common control variables. Originality/value – This study contributes to the literature on the value of political connections by using a robust event study methodology and a novel setting: Sri Lanka in the period around the end of the civil war.

scholarly journals Advantages and potential challenges of data management in e-maintenance

2019 ◽  
Vol 25 (3) ◽  
pp. 378-396 ◽  
Author(s):  
Arian Razmi-Farooji ◽  
Hanna Kropsu-Vehkaperä ◽  
Janne Härkönen ◽  
Harri Haapasalo
Keyword(s):  
Data Management ◽  
Design Methodology ◽  
Management Practices ◽  
Future Research ◽  
Conceptual Approach ◽  
Content Type ◽  
Different Types ◽  
Maintenance Systems ◽  
Industry Leader ◽  
Practical Implications

Purpose The purpose of this paper is twofold: first, to understand data management challenges in e-maintenance systems from a holistically viewpoint through summarizing the earlier scattered research in the field, and second, to present a conceptual approach for addressing these challenges in practice. Design/methodology/approach The study is realized as a combination of a literature review and by the means of analyzing the practices on an industry leader in manufacturing and maintenance services. Findings This research provides a general understanding over data management challenges in e-maintenance and summarizes their associated proposed solutions. In addition, this paper lists and exemplifies different types and sources of data which can be collected in e-maintenance, across different organizational levels. Analyzing the data management practices of an e-maintenance industry leader provides a conceptual approach to address identified challenges in practice. Research limitations/implications Since this paper is based on studying the practices of a single company, it might be limited to generalize the results. Future research topics can focus on each of mentioned data management challenges and also validate the applicability of presented model in other companies and industries. Practical implications Understanding the e-maintenance-related challenges helps maintenance managers and other involved stakeholders in e-maintenance systems to better solve the challenges. Originality/value The so-far literature on e-maintenance has been studied with narrow focus to data and data management in e-maintenance appears as one of the less studied topics in the literature. This research paper contributes to e-maintenance by highlighting the deficiencies of the discussion surrounding the perspectives of data management in e-maintenance by studying all common data management challenges and listing different types of data which need to be acquired in e-maintenance systems.

The nexus between the increasing involvement of youth in betting games and unemployment: the Nigerian perspective

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Gbemi Oladipo Olaore ◽  
Bimbo Onaolapo Adejare ◽  
Ekpenyong Ekpenyong Udofia
Keyword(s):  
Structural Equation ◽  
Family Income ◽  
Equation Model ◽  
Content Type ◽  
Global Industry ◽  
Youth Involvement ◽  
Technology Advancement ◽  
Confirmatory Factor ◽  
The Government ◽  
Practical Implications

Purpose Betting games have become a global industry worth billions of dollars providing employment to millions and contributing to the gross domestic product (GDP) of several countries. While there are debates and controversies surrounding betting games discourse, a growing body of literature shows that it has been exacerbated by growing unemployment rates. This paper aims to examine the nexus between the increasing involvement of youth in betting games and unemployment from the Nigerian perspective. Design/methodology/approach The study adopts simple random and stratified sampling techniques to select participants for the study. Three hypotheses were tested for this study and confirmatory factor analysis (CFA) and structural equation model (SEM) was used to test the hypotheses. Findings The three hypotheses tested in this study were coined from previous literature. The study established a direct link between technology advancement, promises of winning big coupled with bonuses while unemployment was not significant to youth involvement in betting games. The study also showed that playing betting games provides another source of income to the youth, who are already engaged in one form of work or another. Finally, youth involvement in betting games has created awareness regarding different sports in the world, while contributing to Nigeria’s economy. Practical implications As betting games centre as a business in Nigeria has contributed substantially and positively to unemployment in Nigeria; the Government of Nigeria are encouraged to streamline and regulate the activities of the sector such that they can contribute significantly to the country GDP and provide employment opportunities to the youths. Originality/value The research shows that the reason why betting games have a massive turnaround of youths in Nigeria is not majorly because of unemployment but as another means to a substantial financial individual/family income. Thus, Nigerian youths see betting games as an avenue to make more money. The study is the first of its kind to examine the nexus between betting games, technology and unemployment hence, its contribution to knowledge.

Shapeholders: managing them as allies, partners and significant constituents

2017 ◽  
Vol 45 (5) ◽  
pp. 41-48 ◽  
Author(s):  
Oleksiy Osiyevskyy ◽  
Vladyslav Biloshapka
Keyword(s):  
Business Models ◽  
Social Activism ◽  
Business Success ◽  
Content Type ◽  
Building Relationships ◽  
The Public ◽  
Short Run ◽  
Common Interests ◽  
The Subject ◽  
Practical Implications

Purpose The authors review the concept of building relationships with Shapeholders,: a broad group of players that have no financial stake in the company yet can substantively influence it. The process for doing this is the subject of a new book by Mark Kennedy, Shapeholders: Business success in the age of social activism. Design/methodology/approach The authors examine Mark Kennedy’s framework for managing the firm’s shapeholders, a model composed of seven basic steps (7A’s): Align with a purpose, Anticipate, Assess, Avert, Acquiesce, Advance common interests, and Assemble to win. Findings Managing corporate reputation in alliance with enlightened shapeholders is a potential defense against self-aggrandizing schemes to wantonly maximize shareholder value in the short run. Practical implications Managing shapeholders is part of the messy democratic process that works when power is apportioned fairly among those affected by a firm’s decisions, and this process underpins the winning business models of true market leaders. Social implications Stakeholders previously discredited as mere “mosquitos” have gained new power, particularly when their legitimate concerns and unfair treatment resonate with the interests of a significant segment of the public and influential shapeholders. Originality/value Shapeholders can create enormous opportunities for smart managers capable of effectively engaging with them.

Development land valuation accuracy in China – a case study of Beijing

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mengmeng Dou ◽  
Lesley Anne Hemphill ◽  
Lay Cheng Lim
Keyword(s):  
Market Price ◽  
Market Dynamics ◽  
Industrial Land ◽  
Content Type ◽  
Industrial Market ◽  
Transaction Prices ◽  
Land Valuation ◽  
Market Transaction ◽  
The Government ◽  
Practical Implications

PurposeThe paper aims to quantitatively investigate vacant industrial land valuation accuracy in China, given the importance of the industrial market as an underlying pillar to promote urban growth especially in emerging economies.Design/methodology/approachIn China, the government formulates a Land Benchmark Price (LBP) to serve as a price reference point to sell land rights. To gain an in-depth understanding of the valuation practice by LBP, this paper uses correlation analysis to investigate the varying dynamics between the transaction-based prices and LBP appraisal-based estimates. Furthermore, a margin of error examination investigates the distortion in LBP land appraisals, with an amended LBP presented to improve the accuracy of the current LBP method.FindingsDifferent influencing factors are identified to impact the actual market transaction prices and the LBP construction, leading to a large discrepancy in industrial land appraisals. A systematic problem is recognised that the construction of the LBP follows urban bid curve theory, whereas the land transaction prices do not, demonstrating that an urgent LBP update is needed to capture the market dynamics for industrial market.Practical implicationsThe paper sets out discrepancies in valuation accuracy surrounding the application of the LBP valuation approach in China. This has practical implications for valuers in terms of raising their awareness of the deficiencies in the approach and the pitfalls they need to guard against in their appraisals. It also has implications for developers and investors who rely on valuer appraisals to assess the viability of land purchases; hence, they need to express caution in the appraisal advice sought. Finally, the results demonstrate to the standard setters how they need to modify the LBP equations to better capture market dynamics.Originality/valueThe paper examines valuation accuracy in transitional economies, through valuation differentials between appraised price and the transacted price. The value of the work lies in the analysis of the fundamental differentials between market price and appraised value, which is of importance to investors/developers, practicing valuers, as well as government officials responsible for setting the valuation standards.

Agripreneurship development: a strategy for revamping Nigeria’s economy from recession

2017 ◽  
Vol 8 (4) ◽  
pp. 474-483 ◽  
Author(s):  
Innocent Otache
Keyword(s):  
Economic Crisis ◽  
Design Methodology ◽  
Agricultural Sector ◽  
Content Type ◽  
Current Economic Crisis ◽  
Leadership Failure ◽  
Oil Sector ◽  
The Government ◽  
Creativity And Innovation ◽  
Practical Implications

Purpose The purpose of this paper is to explore agripreneurship development as a strategy for economic growth and development. Design/methodology/approach Though a few related literature were reviewed, this paper relies heavily on the author’s viewpoint regarding how Nigeria can grow and develop its economy through agripreneurship development. Findings The present economic challenges that Nigeria is facing are blamed on overdependence on the oil sector, bad governance, corruption, leadership failure, policy inconsistency, overdependence on imported goods and ostensible neglect of the agricultural sector. Also, policymakers, economic analysts and the government have advocated strongly for diversification of the economy. Besides, there is a consensus among scholars, economic analysts and policymakers that “agriculture is the answer.” Research limitations/implications This paper addresses specifically one sector of the economy – the agricultural sector. On the other hand, economic crisis needs to be addressed holistically by resolving specific issues that confront different sectors of the economy. Practical implications This paper has some insightful policy and practical implications for the Nigerian Government and Nigerians. The government and Nigerians need to take practical steps to grow and develop the economy. On the part of the government, apart from the need to transform the agricultural sector by allocating enough funds to it, the government should establish well-equipped agripreneurship development centers and organize periodically agripreneurship development programmes for the main purpose of training and developing both current and potential agripreneurs who will be able to apply today’s agricultural techniques and practices which involve a great deal of creativity and innovation for a successful agribusiness. The federal government should integrate agripreneurship education into Nigeria’s education system. Similarly, the Nigerian people, particularly the youths or graduates should be encouraged to choose agribusiness as a career. Originality/value While previous papers have offered different solutions to the current economic crisis that Nigeria is experiencing, ranging from economic to structural reforms, this paper differs significantly from others by recommending specifically agripreneurship development as a strategy for revamping Nigeria’s economy from its current recession. Moreover, there is a dearth of literature on agripreneurship and agripreneurship development. This paper therefore fills the literature gap.

When I am old I shall wear purple: a qualitative study of the effect of group poetry sessions on the well-being of older adults

2016 ◽  
Vol 20 (4) ◽  
pp. 195-198 ◽  
Author(s):  
Richard Seymour ◽  
Michael Murray
Keyword(s):  
Older People ◽  
Assisted Living ◽  
Well Being ◽  
Content Type ◽  
Short Period ◽  
Different Types ◽  
Poetry Reading ◽  
The Impact ◽  
Health And Well Being ◽  
Practical Implications

Purpose There is increasing evidence that participation in various art forms can be beneficial for health and well-being. The purpose of this paper is to examine the impact of participating in a poetry reading group on a group of older residents of an assisted living facility. Design/methodology/approach Six poetry sessions, each on a different theme, were conducted with a group of volunteer participants. These sessions, those of pre- and post-study focus groups and interviews with the group facilitator and staff contact were audio-recorded. The transcripts of the recordings were then subjected to a thematic analysis. Findings Overall the participants were enthused by the opportunity to participate in the project and the benefits were confirmed by the support staff. In addition, reading poetry on particular themes promoted different types of discussion. Research limitations/implications The number of participants in this study was small and the study was conducted over a short period of time. Practical implications This paper confirms the impact of poetry reading for older people. The challenge is to explore this impact in more detail and over community as well as residential settings. Originality/value This paper is the first empirical report on the value of poetry reading for older people.

Performance assessment of the complex repairable system with n-identical units under (k-out-of-n: G) scheme and copula linguistic repair approach

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
V. V. Singh ◽  
Abubakkar Idris Mohhammad ◽  
Kabiru Hamisu Ibrahim ◽  
Ibrahim Yusuf
Keyword(s):  
Complex System ◽  
Design Methodology ◽  
New Method ◽  
Social Implications ◽  
Repairable System ◽  
Variable Technique ◽  
Content Type ◽  
Different Types ◽  
Theoretical Assessment ◽  
Practical Implications

PurposeThis paper analyzed a complex system consisting n-identical units under a k-out-of-n: G; configuration via a new method which has not been studied by previous researchers. The computed results are more supportable for repairable system performability analysis.Design/methodology/approachIn this paper, the authors have analyzed a complex system consisting n-identical units under a k-out-of-n: G; configuration via a new method which has not been studied by previous researchers. The supplementary variable technique has employed for analyzing the performance of the system.FindingsReliability measures have been computed for different types of configuration. It generalized the results for purely series and purely parallel configurations.Research limitations/implicationsThis research may be beneficial for industrial system performances whereas a k-out-of-n-type configuration exists.Practical implicationsNot sure as it is a theoretical assessment.Social implicationsThis research may not have social implications.Originality/valueThis work is the sole work of authors that have not been communicated to any other journal before.

Career satisfaction antecedents of professional accounting returnees in international workplaces: an employee experience perspective

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nga Thi Thuy Ho ◽  
Hung Trong Hoang ◽  
Pi-Shen Seet ◽  
Janice Jones ◽  
Nhat Tan Pham
Keyword(s):  
Design Methodology ◽  
Career Satisfaction ◽  
Home Country ◽  
Well Being ◽  
Cross Cultural ◽  
Cultural Work ◽  
Content Type ◽  
Different Types ◽  
Employee Experience ◽  
Practical Implications

PurposeThe purpose of this study is to examine the determinants of career satisfaction of professional accounting returnees who have studied and/or worked abroad and then returned to work in different types of international workplaces in their home country.Design/methodology/approachA survey of professional accounting returnees in Vietnam was undertaken and multiple regression analysis was applied to test the proposed relationships.FindingsThis study finds that career satisfaction is affected by career fit, career sacrifice, types of international workplaces (domestically headquartered firms versus globally headquartered firms) and cross-cultural work readjustment. Further, cross-cultural work readjustment partially mediates the effect of career fit and career sacrifice on career satisfaction.Practical implicationsThe research provides the basis for designing career-related employee experiences to support career satisfaction of professional accounting returnees.Originality/valueThis study integrates dimensions of career embeddedness with cross-cultural work readjustment and employee experiences, which are normally studied separately, in different types of international workplaces. It contributes to the limited research on contributors to well-being in the form of career satisfaction among professional returnees in an emerging economy.

Start-up motives and challenges facing female entrepreneurs in Tanzania

2019 ◽  
Vol 11 (2) ◽  
pp. 102-119 ◽  
Author(s):  
Nsubili Isaga
Keyword(s):  
Urban Areas ◽  
Developed Countries ◽  
Access To Finance ◽  
Female Entrepreneurs ◽  
Public And Private ◽  
Developed Country ◽  
Content Type ◽  
The Government ◽  
Survey Responses ◽  
Practical Implications

Purpose Research on women-owned business is more extensive in developed countries than in developing countries and such one cannot compare the results. This paper aims to examine the motives of women in Tanzania (a less developed country) to start their own businesses and the challenges they faced in running their businesses. Design/methodology/approach Based on 400 response to a semi-structured questionnaire and in-depth interview with 20 female entrepreneurs. Subsequently, descriptive and factors analysis were performed to analyze the data Findings Based on survey responses, the primary reason for starting a business was to create employment for the woman herself. Other motives include supplementing income and enabling women to be able to do the kind of work they wanted to do. According to the factor analysis, female entrepreneurs are driven more by push factors than pull factors. The most serious problems faced by female entrepreneurs are lack of access to finance, gender-related problems and social and cultural commitments. Research limitations/implications The sample was selected from urban areas of only three regions, out of 26 regions in Tanzania. Researchers may extend the study to other regions; also, the non-probability sampling method used in this study essentially means that there is a limitation to the extent to which the research findings can be generalized to the rest of the population of female entrepreneurs in Tanzania. Practical implications Policy makers, financial institutions and all organization that have a stake on development on female entrepreneurs in Tanzania should design policies and programs that encourage and promote the creation and growth of businesses. Collective efforts from the government, public and private institutions and NGOs are needed to eliminate the challenges, especially gender-related problems. Practical implications By studying female owner-managers’ motivations and constraints, the author suggests that to a greater extent, gender-related problems, social and cultural commitments and access to finance and networks are the constraints faced by female entrepreneurs. Originality/value The research on female entrepreneurs in the context of Tanzania is scarce, this study responds to a need of better understanding women motivations and constraints. By studying these factors, this study shows that startup motives and constraints faced by female entrepreneurs are unique to different contexts.

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