The importance of being earnest

2019 ◽  
Vol 11 (1) ◽  
pp. 121-138
Author(s):  
Gonzalo Gomez-Bengoechea ◽  
Alfredo Arahuetes
Keyword(s):  
Ordinary Least Squares ◽  
Sovereign Risk ◽  
Quantile Regressions ◽  
Yield Spreads ◽  
Content Type ◽  
Bond Yield ◽  
Macroeconomic Indicators ◽  
Macroeconomic Determinants ◽  
The Impact ◽  
The Relationship

Purpose This paper aims to provide an empirical analysis of the macroeconomic determinants of sovereign bond yield spreads in the Eurozone from 2000 until August 2012, when the Outright Monetary Transactions programme was launched. Design/methodology/approach The authors constructed an unbalanced panel with quarterly data from 2000 Q1 to 2012 Q2 for the 12 Eurozone countries: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Luxembourg, Italy, The Netherlands, Portugal and Spain. The authors propose a model that explains spreads through the main categories of variables observed in the literature. The relationship between variables is analysed using ordinary least squares and quantile regressions. As discussed by the authors, quantile regressions provide a more precise estimation, given the huge heterogeneity across counties that can be observed in the Eurozone. Findings Results show that the relationship between sovereign risk and macroeconomic fundamentals is affected by a strong country sentiment effect. The impact of country sentiment on sovereign risk is larger for those countries that were already experiencing higher spreads. Regardless the impact that European Central Bank’s (ECB) intervention had on sovereign risk from 2012, quantile regression results suggest that policy recommendations and goals should be adapted to each country’s market perception. Originality/value The results obtained improve on previous findings on this topic (De Grauwe and Ji, 2012) in two ways. First, they show that even introducing every category of determinants found in the literature in the main specification, fundamentals can only partially explain the evolution of sovereign risk in the Eurozone. Second, they find there is a country-sentiment effect that affects the relationship between macroeconomic indicators and sovereign risk. Furthermore, the paper finds that the country-sentiment effect is larger for countries facing high spreads.

Racial dissimilarity and diversity climate effect organizational identification

2016 ◽  
Vol 35 (5/6) ◽  
pp. 314-327 ◽  
Author(s):  
Brooklyn Cole ◽  
Raymond J. Jones ◽  
Lisa M. Russell
Keyword(s):  
Organizational Identification ◽  
Turnover Intentions ◽  
Ordinary Least Squares ◽  
Important Variable ◽  
Hierarchical Regression ◽  
Diversity Climate ◽  
Climate Effect ◽  
Content Type ◽  
The Impact ◽  
The Relationship

Purpose The purpose of this paper is to empirically examine the relationship between psychological diversity climate (PDC) and organizational identification (OID) when influenced by racial dissimilarity between the subordinate and supervisor. Design/methodology/approach Ordinary least squares hierarchical regression analysis was run for hypotheses testing. Findings Three of the four hypothesized relationships were supported. Support was found for the direct relationship between PDC and OID. The moderator race was significant thus also supported. The moderator of dissimilarity was not supported. Finally the three-way interaction with race and dissimilarity was supported. Practical implications OID is an important variable for overall organizational success. OID influences a wealth of organizationally relevant outcomes including turnover intentions. Considering higher turnover exists for minority employees, understanding how diversity climate perceptions vary by employee race and therefore impact OID differently, helps managers when making decisions about various initiatives. Originality/value This study is the first the authors know of to investigate the impact of dissimilarity on the PDC-OID relationship.

The impact of executives’ perceptions of environmental threats and organizational slack on innovation strategies

2016 ◽  
Vol 7 (2) ◽  
pp. 216-230 ◽  
Author(s):  
Chengyuan Wang ◽  
Biao Luo ◽  
Yong Liu ◽  
Zhengyun Wei
Keyword(s):  
Cognitive Theory ◽  
Environmental Changes ◽  
Ordinary Least Squares ◽  
Organizational Slack ◽  
Least Squares Regression ◽  
Content Type ◽  
Environmental Threats ◽  
Innovation Strategies ◽  
The Impact ◽  
The Relationship

Purpose The paper aims to study the relationship between executives’ perceptions of environmental threats and innovation strategies and investigate the moderating effect of contextual factor (i.e. organizational slack) on such relations. It proposes a dualistic relationship between executives’ perceptions of environmental threats and innovation strategies, in which different perceptions of environmental threats will lead to corresponding innovation strategies, and dyadic organizational slack can promote such processes. Design/methodology/approach The paper is based on a survey with 163 valid questionnaires, which were all completed by executives. Hierarchical ordinary least-squares regression analysis is used to test the hypotheses proposed in this paper. Findings The paper provides empirical insights about that executives tend to choose exploratory innovation when they perceive environmental changes as likely loss threats, yet adopt exploitative innovation when perceiving control-reducing threats. Furthermore, unabsorbed slack (e.g. financial redundancy) positively moderates both relationships, while absorbed slack (e.g. operational redundancy) merely positively influences the relationship between the perception of control-reducing threats and exploitative innovation. Originality/value The paper bridges the gap between organizational innovation and cognitive theory by proposing a dualistic relationship between executives’ perceptions of environmental threats and innovation strategies. The paper further enriches innovation studies by jointly considering both subjective and objective influence factors of innovation and argues that organizational slack can moderate such dualistic relationship.

Audit committee characteristics and the moderating effect of Malaysian code of corporate governance on IPO liquidity

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Amal Mohammed Al-Masawa ◽  
Rasidah Mohd-Rashid ◽  
Hamdan Amer Al-Jaifi ◽  
Shaker Dahan Al-Duais
Keyword(s):  
Corporate Governance ◽  
Initial Public Offerings ◽  
Audit Committee ◽  
Ordinary Least Squares ◽  
Moderating Effect ◽  
Least Squares Regression ◽  
Content Type ◽  
Code Of Corporate Governance ◽  
The Impact ◽  
The Relationship

Purpose This study aims to investigate the link between audit committee characteristics and the liquidity of initial public offerings (IPOs) in Malaysia, which is an emerging economy in Southeast Asia. Another purpose of this study is to examine the moderating effect of the revised Malaysian code of corporate governance (MCCG) on the link between audit committee characteristics and IPO liquidity. Design/methodology/approach The final sample consists of 304 Malaysian IPOs listed in 2002–2017. This study uses ordinary least squares regression method to analyse the data. To confirm this study’s findings, a hierarchical or four-stage regression analysis is used to compare the t-values of the main and moderate regression models. Findings The findings show that audit committee characteristics (size and director independence) have a positive and significant relationship with IPO liquidity. Also, the revised MCCG positively moderates the relationship between audit committee characteristics and IPO liquidity. Research limitations/implications This study’s findings indicate that companies with higher audit committee independence have a more effective monitoring mechanism that mitigates information asymmetry, thus reducing adverse selection issues during share trading. Practical implications Policymakers could use the results of this study in developing policies for IPO liquidity improvements. Additionally, the findings are useful for traders and investors in their investment decision-making. For companies, the findings highlight the crucial role of the audit committee as part of the control system that monitors corporate governance. Originality/value To the authors’ knowledge, this work is a pioneering study in the context of a developing country, specifically Malaysia that investigates the impact of audit committee characteristics on IPO liquidity. Previously, the link between corporate governance and IPO liquidity had not been investigated in Malaysia. This study also contributes to the IPO literature by providing empirical evidence regarding the moderating effect of the revised MCCG on the relationship between audit committee characteristics and IPO liquidity.

scholarly journals The human capital–economic growth nexus in SSA countries: what can strengthen the relationship?

2020 ◽  
Vol 47 (9) ◽  
pp. 1143-1159
Author(s):  
Roseline Tapuwa Karambakuwa ◽  
Ronney Ncwadi ◽  
Andrew Phiri
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Least Squares ◽  
Ordinary Least Squares ◽  
African Countries ◽  
Content Type ◽  
Econometric Approach ◽  
The Impact ◽  
The Relationship ◽  
Ssa Countries

PurposeThe purpose of this study is to examine the impact of human capital on economic growth for a selected sample of nine SSA countries between 1980 and 2014 using a panel econometric approach.Design/methodology/approachThe authors estimate a log-linearized endogenous using the fully modified ordinary least squares (FMOLS) and the dynamic ordinary least squares (POLS) applied to our panel data time series.FindingsThe empirical analysis shows an insignificant effect of human capital on economic growth for our selected sample. These findings remain unchanged even after adding interactive terms to human capital, which are representatives of government spending as well as foreign direct investment. Nevertheless, the authors establish a positive and significant effect of the interactive term between urbanization and human capital on economic growth.Practical implicationsThe results emphasize the need for African policymakers to develop urbanized, “smart”, technologically driven cities within the SSA region as a platform toward strengthening the impact of human capital-economic growth relationship.Originality/valueThis study becomes the first in the literature to validate the human capital–urbanization–growth relationship for African countries.

The double-edge resource-based view of logistics performance and governance in Asian countries

2018 ◽  
Vol 30 (3) ◽  
pp. 652-668 ◽  
Author(s):  
Bee Hui Koh ◽  
Wai Peng Wong ◽  
Chor Foon Tang ◽  
Ming K. Lim
Keyword(s):  
Ordinary Least Squares ◽  
Moderating Effect ◽  
Dark Side ◽  
Series Data ◽  
Asian Countries ◽  
Trade Facilitation ◽  
Content Type ◽  
Effect Model ◽  
The Impact ◽  
The Relationship

PurposeAsia has been transformed into a well-regulated dynamic platform for trade and is today world’s fastest-developing economic region. However, the increasing cross-border economic activities create new opportunities for corruption. The purpose of this paper is to assess the impact of corruption on trade facilitation using logistics performance index (LPI). This paper also examines the moderating effect of governance or government effectiveness (GE) on the relationship between corruption and LPI within Asian countries.Design/methodology/approachA panel of time-series data from year 2007 to 2014 of 26 Asian countries was collected for analysis. Static linear panel models which comprised of pooled ordinary least squares, fixed-effect model and random-effect model were utilised to analyse the panel data.FindingsThe findings show that corruption significantly affects LPI and each of the six dimensions in LPI. The results also show that governance or GE has a moderating effect on the relationship between corruption and LPI.Practical implicationsThis study benefits Asian governments to gain a better understanding on influences of corruption on trade facilitation and triggering suggestions of a government role in the relationship. Practically, the results could be used as a guideline in improving national LPI. Besides, the findings could be used to support policy decision to modify corruption regulations at the national and regional levels.Originality/valueThis study reveals that the optimistic view of sands in the wheel overcomes the dark side of the grease in the wheel practices. To be corrupt free or less corrupt is a rare and inimitable resource capability that makes nations logistically competitive.

Does social media matter for post typology? Impact of post content on Facebook and Instagram metrics

2016 ◽  
Vol 40 (4) ◽  
pp. 458-471 ◽  
Author(s):  
Ricardo Limongi França Coelho ◽  
Denise Santos de Oliveira ◽  
Marcos Inácio Severo de Almeida
Keyword(s):  
Social Media ◽  
Regression Analysis ◽  
Design Methodology ◽  
Ordinary Least Squares ◽  
User Preference ◽  
Content Type ◽  
Dependent Variables ◽  
Body Design ◽  
The Impact ◽  
The Relationship

Purpose – The purpose of this paper is to measure the impact of post type (advertising, fan, events, information, and promotion) on two interaction metrics: likes and comments. The measuring involved two popular social media, Facebook and Instagram, and in business profiles of five different segments (food, hairdressing, ladies’ footwear, body design, fashion gym wear). Design/methodology/approach – The method used was multiple regression analysis with an estimator of the ordinary least squares for 1,849 posts from five different companies posted on Facebook (680 posts) and Instagram (1,169 Instagram) over an eight-month posting period. Regression analysis was used to identify the relationship between the dependent variables (likes and comments), and the independent variables (post typology, segments, week period, month, characters and hashtag). Findings – It was seen that the post types events and promotion led to a greater involvement of followers in Instagram, in particular. In Facebook, the events post type was only significant in the like’s interaction. Another finding of the research is the relevance of the food and body design segment which was significant in both virtual social media. This indicates a user preference involving their day-to-day lives, in this case, having a tattoo done or seeing a photo of a dessert. Originality/value – With the findings of this study, academics and social media managers can improve the return indicators of interactions in posts and broaden the discussion on the types of post and interaction in different virtual social media.

Clarifying the interface between respectful leadership and intention to stay

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ibeawuchi K. Enwereuzor ◽  
Lawrence E. Ugwu
Keyword(s):  
Organizational Context ◽  
Evaluation Criteria ◽  
Ordinary Least Squares ◽  
Least Squares Regression ◽  
Intention To Stay ◽  
Content Type ◽  
Mandatory Training ◽  
State Of Research ◽  
The Impact ◽  
The Relationship

PurposeConsidering that leaders play an important role in influencing the work environment and experiences of subordinates as well as the fact that employees like to be respected, the purpose of the current study was to explore supportive supervisor relations as a mediator of the relationship between respectful leadership and intention to stay.Design/methodology/approachData were collected from 389 hospital nurses based on authors' personal networks at three measurement points. This was done to avoid problems associated with collecting data for predictor and criterion variables from the same source at the same time. The direct and indirect effects were tested with ordinary least squares regression-based path analysis.FindingsRespectful leadership was found to be positively related to both supportive supervisor relations and intention to stay. In addition, supportive supervisor relations had a positive relationship with intention to stay. Finally, the relationship between respectful leadership and intention to stay was mediated by supportive supervisor relations.Research limitations/implicationsThe sample were drawn from nurses only in a particularly region of a country and differences may exist among other occupational groups and geographical areas of the country in the way they perceive their leaders' behavior.Practical implicationsManagement of health facilities can utilize information from annual reviews and feedback from subordinates as performance evaluation criteria for rewarding leaders who treat their subordinates respectfully. However, leaders who are disrespectful toward their subordinates could be identified and subjected to mandatory training on respectful leadership.Originality/valueThe current study extends the present state of research on the impact exerted by respectful leadership in an organizational context never examined heretofore; that is, health care context. This is also the first study linking respectful leadership, supportive supervisor relations and intention to stay in unison in a single study.

The impact of government ownership on the cost of debt and valuation of Vietnamese listed companies

2020 ◽  
Vol 32 (2) ◽  
pp. 255-270
Author(s):  
Ben Le
Keyword(s):  
Instrumental Variable ◽  
Ordinary Least Squares ◽  
Firm Valuation ◽  
The Other ◽  
Cost Of Debt ◽  
Government Ownership ◽  
Content Type ◽  
The Cost ◽  
The Impact ◽  
The Relationship

Purpose This paper aims to examine the impact of government ownership on the cost of debt and firm valuation in listed Vietnamese companies for the period 2007 to 2016. Design/methodology/approach The authors use both the generalised methods of the moment (GMM) and the ordinary least squares (OLS) regressions to analyse a panel data spanning over the period 2007 to 2016 in the markets of Vietnam. Further, the instrumental variable is used in the paper. Findings The authors find that firms with relative higher government stockholdings or state-owned companies where the government owns 50 per cent or more of shares outstanding enjoy a lower cost of debt compared to the other firms. Consequently, these firms have higher firm valuation and profitability. The results are robust for both the GMM and the OLS regressions. Further, firms that no longer retain government ownership have a higher cost of debt than the other firms. The results of the paper imply the importance of political connections in businesses in the market of Vietnam. Originality/value This paper connects the relationship between government ownership and the cost of debt with the relationship between government ownership and firm valuation. The paper tests the relationship between the cost of debt and government ownership using both OLS and GMM specifications and the results are robust for both approaches. The manuscript uses an instrumental variable to show that government ownership has a positive impact on higher firm performance through reducing cost of debt. Further, this paper addresses the possible issue of endogeneity.

Intellectual capital and profitability in an emerging insurance market

2017 ◽  
Vol 33 (1) ◽  
pp. 2-19 ◽  
Author(s):  
Nicholas Asare ◽  
Abdul Latif Alhassan ◽  
Michael Effah Asamoah ◽  
Matthew Ntow-Gyamfi
Keyword(s):  
Intellectual Capital ◽  
Value Added ◽  
Ordinary Least Squares ◽  
Insurance Market ◽  
Insurance Companies ◽  
Content Type ◽  
Life Insurers ◽  
Main Driver ◽  
The Impact ◽  
The Relationship

Purpose The purpose of this paper is to examine the relationship between intellectual capital (IC) and profitability of insurance companies in Ghana. Design/methodology/approach Data on 36 life and non-life insurance companies from 2007 to 2011 are employed to estimate the value added intellectual coefficient of Pulic (2004, 2008). Using return on assets and underwriting profit as indicators of profitability, the ordinary least squares panel corrected standard errors of Beck and Katz (2005) is used in estimating the relationship in the presence of serial correlation and heteroskedasticity. Leverage, underwriting risk and insurers’ size are used as control variables. Findings Non-life insurers have high IC performance comparative to life insurers. This study finds a significant positive relationship between IC and profitability of insurers in Ghana while human capital efficiency is the main driver of insurers’ IC performance. Practical implications The study discusses relevance of IC for management of insurance companies in Ghana and other emerging insurance markets in Africa. Originality/value This appears to be the first study to examine the impact of IC on profitability of a developing insurance market in Africa.

Investigating employee creativity through employee polychronicity and employee resilience: a glimpse of nurses working in the health-care sector

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Muhammad Khalid Anser ◽  
Zahid Yousaf ◽  
Muhammad Sharif ◽  
Wang Yijun ◽  
Abdul Majid ◽  
...  
Keyword(s):  
Health Care ◽  
Quantitative Research ◽  
Ordinary Least Squares ◽  
Health Care Sector ◽  
Employee Creativity ◽  
Content Type ◽  
Mediating Role ◽  
The Impact ◽  
The Relationship

PurposeThis study aims to investigate the relationship between employee polychronicity and employee creativity. This study also explores the mediating role of employee resilience in the relationship between employee polychronicity and employee creativity.Design/methodology/approachThis study was based on a quantitative research design, and a survey instrument was used to collect data from doctors and nurses. Ordinary least squares (OLS) regression and four-step Baron and Kenney (1986) approaches were used to check the impact of nurses’ polychronicity on creativity through resilience.FindingsResults proved that employee polychronicity positively influences employee creativity. The finding indicates that employee resilience acts as a mediator in the relationship between employee polychronicity and employee creativity.Originality/valueThe worth of this study rests on the deeper understanding of the employee polychronicity–employee creativity link in the health-care sector. Moreover, by bringing to the fore employee resilience as a mediator of the polychronicity–creativity relationship, this study provided a new vantage point to explore the intricacies concerned with the relationships between polychronicity, resilience and creativity.

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