The estimation of leverage coefficients in corporate finance research: a review of the literature

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Michael T. Dugan
Keyword(s):  
Literature Review ◽  
Corporate Finance ◽  
Design Methodology ◽  
Future Research ◽  
Review Of The Literature ◽  
Financial Leverage ◽  
Content Type ◽  
Estimation Techniques ◽  
Empirical Corporate Finance ◽  
Operating Leverage

Purpose The purpose of this paper is to provide a literature review of elasticity-based techniques for the estimation of the degree of operating leverage (DOL) and the degree of financial leverage (DFL) in empirical corporate finance research. Design/methodology/approach This paper describes the specific details of the estimation of DOL and DFL coefficients under both of the primary estimation techniques and documents the econometric properties of the estimates derived from each techniques. Findings There are tradeoffs between the two techniques, as each technique has both appealing and limiting features. Originality/value This paper indicates how each of the two techniques possesses limitations and suggests that future research should attempt to develop estimation techniques that overcome those limitations.

scholarly journals A survey of litigation in corporate finance

2017 ◽  
Vol 43 (1) ◽  
pp. 4-18 ◽  
Author(s):  
Matteo Arena ◽  
Stephen Ferris
Keyword(s):  
Corporate Finance ◽  
Design Methodology ◽  
Political Connections ◽  
Future Research ◽  
Litigation Risk ◽  
Review Of The Literature ◽  
Financial Policies ◽  
Corporate Policies ◽  
Content Type ◽  
Recent Trends

Purpose The purpose of this paper is to review research on litigation in corporate finance. Design/methodology/approach This paper surveys studies on the estimation of litigation risk, litigation costs, stock reaction to lawsuit announcement, and the effect of litigation on corporate financial policies and outcomes. Findings The first section presents a survey of studies that estimate litigation risk. The authors then discuss a set of studies that focus on the various costs associated with litigation. The third area of review is about studies which estimate the market reaction to a lawsuit announcement. The next section surveys studies that examine the relation between litigation and a variety of corporate policies, behaviors, and outcomes. The authors then discuss the emerging literature on how corporate political connections can influence the outcome of litigation. The survey concludes with a brief summary and a discussion of suggestions for future research involving corporate litigation. Originality/value By providing an extensive review of the literature on litigation in corporate finance, this survey can help researchers to identify recent trends in litigation research and select promising new avenues of investigation in the field.

Tawarruq application in Islamic banking: a review of the literature

2014 ◽  
Vol 7 (4) ◽  
pp. 485-501 ◽  
Author(s):  
Nasrun Mohamad ◽  
Asmak Ab Rahman
Keyword(s):  
Content Analysis ◽  
Literature Review ◽  
Design Methodology ◽  
Banking System ◽  
Future Research ◽  
Islamic Banking ◽  
Review Of The Literature ◽  
Content Type ◽  
Comprehensive Literature Review ◽  
The Subject

Purpose – This paper aims to present the results of a comprehensive literature review with regard to the application of Tawarruq in the Islamic banking system covering the period between 2011 and before. The review aims to synthesize the previous research, capsulize the structural overview inasmuch as future research might be oriented and identify the gaps and direction for future research. Design/methodology/approach – A range of published and unpublished documents was collated and filtered based on the defined rules to identify the determinants of the writing. The documents were then be classified into few segments in which content analysis was conducted to capsulize the essence of the subject matter described in the literature. Findings – The analysis demonstrates that most of the studies discussed the fundamental theories which concerning the area of jurisprudence, while a few of them did discuss the application aspect in the banking environment. However, none of the operational process is discussed in-depth, whereas the risk of Shari’ah non-compliance might arise in the detail transaction. Research limitations/implications – The databases used in the search might not contain all the documents that could be relevant for the review. Furthermore, the defined-rule for document searching and selection excluded the out-of-scope documents that might be relevant. Originality/value – This paper identifies the gaps that become apparent in the literature in assisting researchers to ascertain the interesting areas as well as the direction for future research.

scholarly journals The concept of neutrality: a new approach

2019 ◽  
Vol 76 (1) ◽  
pp. 333-353 ◽  
Author(s):  
Stephen Macdonald ◽  
Briony Birdi
Keyword(s):  
Literature Review ◽  
Design Methodology ◽  
Information Science ◽  
Social Institutions ◽  
Future Research ◽  
Library And Information Science ◽  
New Approach ◽  
Content Type ◽  
Normative Framework ◽  
Contextual Awareness

Purpose Neutrality is a much debated value in library and information science (LIS). The “neutrality debate” is characterised by opinionated discussions in contrasting contexts. The purpose of this paper is to fill a gap in the literature by bringing these conceptions together holistically, with potential to deepen understanding of LIS neutrality. Design/methodology/approach First, a literature review identified conceptions of neutrality reported in the LIS literature. Second, seven phenomenographic interviews with LIS professionals were conducted across three professional sectors. To maximise variation, each sector comprised at least one interview with a professional of five or fewer years’ experience and one with ten or more years’ experience. Third, conceptions from the literature and interviews were compared for similarities and disparities. Findings In four conceptions, each were found in the literature and interviews. In the literature, these were labelled: “favourable”, “tacit value”, “social institutions” and “value-laden profession”, whilst in interviews they were labelled: “core value”, “subservient”, “ambivalent”, and “hidden values”. The study’s main finding notes the “ambivalent” conception in interviews is not captured by a largely polarised literature, which oversimplifies neutrality’s complexity. To accommodate this complexity, it is suggested that future research should look to reconcile perceptions from either side of the “neutral non-neutral divide” through an inclusive normative framework. Originality/value This study’s value lies in its descriptive methodology, which brings LIS neutrality together in a holistic framework. This framework brings a contextual awareness to LIS neutrality lacking in previous research. This awareness has the potential to change the tone of the LIS neutrality debate.

Dynamic capabilities vs. innovation capability: are they related?

2014 ◽  
Vol 21 (3) ◽  
pp. 368-384 ◽  
Author(s):  
Lidija Breznik ◽  
Robert D. Hisrich
Keyword(s):  
Literature Review ◽  
Design Methodology ◽  
Dynamic Capabilities ◽  
Dynamic Capability ◽  
Future Research ◽  
Innovation Capability ◽  
New Approach ◽  
Content Type ◽  
New Research ◽  
The Relationship

Purpose – The purpose of this paper is to provide insights into the relationship between dynamic capabilities and innovation capabilities. It links dynamic capability with innovation capability and indicates the ways they can be related. Design/methodology/approach – The relationships between dynamic and innovation capability were investigated through a systematic literature review. Findings – The review indicates that common characteristics exist between of the both fields, which demonstrate six relationships. Additionally, findings show some inconsistencies and even contradictions. Originality/value – In this paper, the authors have compared dynamic capabilities, a relatively new approach in the field of strategic management, with innovation capabilities, a widely recognised crucial domain for sustained competitiveness. Since both areas address issues that are essential to today's environment, future research should seek to clarify both concepts, by undertaking some new research and developing comprehensive and unambiguous framework.

scholarly journals Environmental determinants of destination competitiveness and its Tourism Attractions-Basics-Context, A-B-C, indicators

2020 ◽  
Vol 25 (50) ◽  
pp. 425-449 ◽  
Author(s):  
Lalita A. Manrai ◽  
Ajay K. Manrai ◽  
Stefanie Friedeborn
Keyword(s):  
Environmental Factors ◽  
Design Methodology ◽  
Future Research ◽  
Review Of The Literature ◽  
Environmental Determinants ◽  
Content Type ◽  
Destination Competitiveness ◽  
Managerial Implications ◽  
Tourism Attractions ◽  
Practical Implications

Purpose The purpose of this paper is to provide a comprehensive review of the literature and develop a model of the determinants, indicators and effects of destination competitiveness (DC), as well as several propositions. Design/methodology/approach This study thoroughly reviewed extant literature to develop a conceptual model and propositions. Findings Two key findings are listed below. First, 12 different environmental factors are identified and 12 propositions are developed linking these environmental factors to DC. Second, a new indicator of DC is developed, namely, Tourism Attractions-Basics-Context (TABC) model. The TABC model is simple and directly taps into the benefits tourists seek in a destination. Research limitations/implications Directions for future research are discussed in detail in the paper. Practical implications Managerial implications are discussed in detail in the paper. Originality/value The extant research on the topic of DC has been rather fragmented and incomplete in scope. The research presented in this paper addresses these limitations.

China in Africa: a critical literature review

2016 ◽  
Vol 12 (1) ◽  
pp. 40-60 ◽  
Author(s):  
Abdoulkadre Ado ◽  
Zhan Su
Keyword(s):  
Literature Review ◽  
Design Methodology ◽  
Empirical Support ◽  
Future Research ◽  
Evidence Based ◽  
Content Type ◽  
Academic Literature ◽  
Current State ◽  
Comprehensive Literature Review ◽  
Critical Literature

Purpose – The purpose of this paper is to critically assesses the major contributions to the academic literature on China’s increased focus on Africa, from 2001 to 2011. It discusses the key trends concerning China’s presence in Africa and draws conclusions on the significance of the studies by emphasizing and contrasting the prevailing positions. Design/methodology/approach – Based on a qualitative approach using an integrative and comprehensive literature review, the authors performed a content analysis of high-impact, peer-reviewed papers. Findings – The paper questions and repositions some of the existing controversies. The results from existing studies remain questionable, requiring further clarification and more theoretical backing. It, moreover, highlights the notion that behind the explicit neutrality views of China’s presence in Africa, implicit assumptions may exist. These are often the differences in narratives conveyed by Western and Southern stakeholders. Research limitations/implications – Most of the conclusions drawn from this paper need to be re-explored and supported by additional research. This could be done by widening the scope of the analysis. Studies need to provide more empirical support for their assertions through quantitative data and evidence-based qualitative analyses – all within a framework that considers more cultural, social and historical dimensions. The paper also suggests that an institutionally based view appears most relevant in better explaining China in Africa. Originality/value – This paper reviews a decade of research on China in Africa and presents a snapshot of the current state of knowledge. It also raises concerns to be analyzed by future research and proposes new avenues for better understanding China’s presence in Africa.

Sport in business studies: a state-of-the-art literature review

2018 ◽  
Vol 8 (5) ◽  
pp. 529-546
Author(s):  
Christofer Laurell ◽  
Sten Soderman
Keyword(s):  
Systematic Review ◽  
Literature Review ◽  
Marketing Strategy ◽  
Design Methodology ◽  
State Of The Art ◽  
Future Research ◽  
Content Type ◽  
Business Studies ◽  
Current State ◽  
State Of Research

PurposeThe purpose of this paper is to provide a systematic review of articles on sport published in leading business studies journals within marketing, organisational studies and strategy.Design/methodology/approachBased on a review of 38 identified articles within the subfields of marketing, strategy and organisation studies published between 2000 and 2015, the articles’ topical, theoretical and methodological orientation within the studied subfields were analysed followed by a cross-subfield analysis.FindingsThe authors identify considerable differences in topical, theoretical and methodological orientation among the studied subfields’ associated articles. Overall, the authors also find that articles across all subfields tend to be focussed on contributing to mature theory, even though the subfield of marketing in particular exhibits contributions to nascent theory in contrast to organisation studies and strategy.Originality/valueThis paper contributes by illustrating the current state of research that is devoted or related to the phenomenon of sport within three subfields in business studies. Furthermore, the authors discuss the role played by leading business studies journalsvis-à-vissport sector-specific journals and offer avenues for future research.

A review on risk-taking in tournaments

2019 ◽  
Vol 14 (2) ◽  
pp. 559-568 ◽  
Author(s):  
Zejun Li ◽  
Chengyuan Wang ◽  
Qiong Wang ◽  
Biao Luo
Keyword(s):  
Literature Review ◽  
Qualitative Analysis ◽  
Risk Taking ◽  
Design Methodology ◽  
Future Research ◽  
Content Type ◽  
Research Opportunities ◽  
Tournament Theory ◽  
Bibliographic Retrieval ◽  
Antecedents And Consequences

Purpose This paper aims to summarize antecedents and consequences of risk-taking in tournaments and show the development of tournament optimization considering risk-taking. Moreover, further expansion expectations related to antecedents and consequences of risk-taking in tournaments and tournament optimization considering risk-taking are discussed. Design/methodology/approach A comprehensive bibliographic retrieval and further literature review and systematics re-organization are used to build the framework with respect to risk-taking in tournaments. Then, qualitative analysis is used to present conclusions of existing research. Findings By summarizing various antecedents, different consequences and tournament optimizations with regard to risk-taking in tournaments of existing research, the authors present a series of research opportunities regarding risk-taking in tournaments that can propel the advancement of tournament theory. Originality/value The studies on risk-taking in tournament have been recently received wide attention and are growing vigorously. Based on the summary and re-organization, the framework of literature studying risk-taking in tournaments is built. This literature review also helps researchers learn the advance of risk-taking in tournament and provides fruitful direction for future research on this topic.

Co-marketing alliances: definitions and approaches. Insights from a literature review

2017 ◽  
Vol 40 (9) ◽  
pp. 971-989 ◽  
Author(s):  
Cecilia Grieco ◽  
Gennaro Iasevoli
Keyword(s):  
Literature Review ◽  
Multidimensional Scaling ◽  
Design Methodology ◽  
Marketing Research ◽  
Marketing Strategies ◽  
Future Research ◽  
Competitive Position ◽  
Content Type ◽  
Points Of View ◽  
Marketing Alliances

Purpose Co-marketing strategies play an important role in enabling firms to improve their competitive position. However, despite its increasing implementation, it remains a topic that is largely not researched. The purpose of this paper is to analyze existing contributions to the field of co-marketing research and the different perspectives scholars have adopted in analyzing the topic. Design/methodology/approach A literature review has been developed, as its lack seems to be a major hindrance to the development of related studies. A specific focus has been made on the adopted approaches. Five approaches have been identified, and multidimensional scaling (MDS) has been used to analyze the differences among them. Findings First, the analysis of the typologies of studies on co-marketing alliances is made. Also, the identified approaches are strategic-based, consumer-based, relational-based, specificity-based and evaluation-based. What emerges from the MDS is that there are two perspectives of analysis of the alliance that characterize them: the inside–outside and the wide–narrow points of view. Research limitations/implications Limitations are mostly referred to the methodologies and the level of subjectivity they imply. For example, they are not only the choices made concerning keywords to be used and, consequently, the articles included in the analysis, but also the MDS that offers broad autonomy to the researchers in interpreting the data. Originality/value The originality of this research is that it fills an emerged gap concerning a literature review on co-marketing alliances, supporting future research in this field of study. The identification of the approaches underlines what may be lacking, providing interesting insights on possible avenues for future research.

Enterprise resource planning, operations and management

2013 ◽  
Vol 33 (8) ◽  
pp. 1075-1104 ◽  
Author(s):  
Kim Sundtoft Hald ◽  
Jan Mouritsen
Keyword(s):  
Literature Review ◽  
Enterprise Resource Planning ◽  
Operations Management ◽  
Design Methodology ◽  
Resource Planning ◽  
Future Research ◽  
Erp Systems ◽  
Content Type ◽  
Practical Implications ◽  
Case Based

PurposeThis research aims to explore the enabling and constraining effects of enterprise resource planning (ERP) systems and speculate on how these can be linked to the four generic roles of operations management (OM) proposed by Slack et al.Design/methodology/approachThis research understands ERP as boundary objects characterised by modularity, abstraction, accommodation, and standardization. An in‐depth cross‐disciplinary literature review and role synthesis is conducted.FindingsFour enabling and three constraining effects of ERP are deduced from existing literature. ERP and OM are linked conceptually. Based on the identified effects of ERP, the paper speculates on the managerial tasks of the production and operations manager (POM) in an ERP environment and lists a set of central concerns of potential relevance to POM and to future research.Research limitations/implicationsThe identified roles of ERP and their implications could be empirically tested using case based and survey research.Practical implicationsThe results provide insights into how ERP has multiple and parallel roles, and how these roles are relevant to the function of OM. Such knowledge is valuable for practicing POMs in managing the implementation and design of ERP to support the different domains of OM.Originality/valueCurrent studies of the effects of ERP and their link to the practice of OM tend to focus on one or a few roles of the emerging system. Such studies do not properly take into account the modularised and pluralistic nature of ERP. This research provides a platform from where future research on the effects, managerial dilemmas and implications of ERP can be reconciled across research communities.

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