Evaluating the link between commercial governance ratings and firm performance in a cross-European setting

2017 ◽  
Vol 55 (10) ◽  
pp. 2089-2110 ◽  
Author(s):  
Manuel E. Núñez Izquierdo ◽  
Josep Garcia-Blandon
Keyword(s):  
Firm Performance ◽  
Small Samples ◽  
Stock Market Index ◽  
Content Type ◽  
Market Index ◽  
Standard And Poor's ◽  
The Us ◽  
The Impact ◽  
The Relationship ◽  
Practical Implications

Purpose The purpose of this paper is to explore the ability of commercial governance ratings (CGR) to predict firm performance. Design/methodology/approach Based on the review of the corporate governance literature, the authors pose five hypotheses on the relationship between CGR and firm performance. Then, the authors test these hypotheses for the latest version of the Institutional Shareholder Services Inc. (ISS) index (Quickscore) with a sample of firms formed by the constituents of the Standard and Poor’s Europe 350 stock market index. Findings The authors have not found a consistent significant relationship between Quickscore ratings and firm performance. This main result holds across a variety of checks. Research limitations/implications Some of the additional analyses are conducted with rather small samples. The results of these analyses have to be carefully taken. Recommendations for further research are offered. Practical implications The results call into question the usefulness of CGR, marketed by influential consultant companies, and which are becoming increasingly popular among investors, as reliable predictors of firm performance. Originality/value Despite an increasing body of research on the use of CGR as predictors of firm performance, the available research is heavily concentrated in the US market. No previous study has explored this relationship using the recently developed ISS index Quickscore in a cross-European setting. The use of a cross-country sample of companies allows the authors to address the impact of institutional factors on the CGR-firm performance relationship. Moreover, the authors do not limit the study to the overall scores of the index but examine also the partial scores (pillars) which intend to assess specific dimensions of governance. This makes the evaluation of the relationship more complex and challenging.

Impact of monetary policy on house prices: case of Pakistan

2019 ◽  
Vol 13 (3) ◽  
pp. 503-512
Author(s):  
Muhammad Umar ◽  
Moin Akhtar ◽  
Muhammad Shafiq ◽  
Zia-Ur-Rehman Rao
Keyword(s):  
Monetary Policy ◽  
Stock Market ◽  
Time Series Data ◽  
House Prices ◽  
Series Data ◽  
Stock Market Index ◽  
Content Type ◽  
Market Index ◽  
The Impact ◽  
The Relationship

Purpose This study aims to explore the impact of monetary policy on house prices in Pakistan. Design/methodology/approach This study uses monthly time-series data of house prices, monetary policy, inflation and stock market index ranging from January 2011 to December 2016. All the series were checked for stationarity by using augmented Dickey–Fuller test, and lag length of 11 was decided on the basis of Schwert’z rule of thumb. Vector autoregressive (VAR) model was used because the series were not co-integrated. Findings The analysis revealed that monetary policy significantly affects house prices in Pakistan. Tight monetary policy results in lower house prices and vice versa. The relationship between monetary policy and house prices is unidirectional. The study also finds that higher inflation also leads to soaring house prices, but the variation in stock market index does not affect house prices. Originality/value To the best of authors’ knowledge, none of the existing studies explores the impact of monetary policy on house prices in Pakistan. The findings help investors and policy makers to understand the relationship between monetary policy and house prices to make better decisions.

The impact of project methodologies on project success in different project environments

2016 ◽  
Vol 9 (2) ◽  
pp. 364-388 ◽  
Author(s):  
Robert Joslin ◽  
Ralf Müller
Keyword(s):  
Project Success ◽  
Research Model ◽  
Content Type ◽  
Industrial Sectors ◽  
Project Environment ◽  
Project Governance ◽  
The Impact ◽  
Matching Techniques ◽  
The Relationship ◽  
Practical Implications

Purpose – The purpose of this paper is to qualitatively validate the constructs of a theoretically derived research model while gaining insights to steer the direction of a greater study on methodologies, their elements, and their impact on project success. In doing so, to investigate whether different project environments, notably project governance, impacts the relationship between methodologies and project success. Design/methodology/approach – A deductive approach was applied to validate a theoretically derived research model. In total, 19 interviews across 11 industrial sectors and four countries were used to collect data. Pattern-matching techniques were utilized in the analysis to deductively validate the research model. Findings – There is a positive relationship between project methodology elements and the characteristics of project success; however, environmental factors, notably project governance, influence the use and effectiveness of a project methodology and its elements with a resulting impact on the characteristics of project success. Research limitations/implications – Project governance plays a major role in the moderating effect of a project methodology’s effectiveness. Contingency theory is applicable to a project’s methodology’s selection and its customization according to the project environment. Practical implications – Understand the impact of project methodologies and their elements on the characteristics of project success while being moderated by the project environment, for example, the risk of suboptimal project performance due to the effectiveness of methodology elements being negatively impacted by the project environment. Originality/value – The impact of a project methodology (collection of heterogeneous-related elements) on the characteristics of project success is identified while being moderated by the project environment, notably project governance.

Perceived stress and psychological well-being of working mothers during COVID-19: a mediated moderated roles of teleworking and resilience

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Vartika Kapoor ◽  
Jaya Yadav ◽  
Lata Bajpai ◽  
Shalini Srivastava
Keyword(s):  
Perceived Stress ◽  
Working Mothers ◽  
Well Being ◽  
Inverse Association ◽  
Psychological Well Being ◽  
Content Type ◽  
The Impact ◽  
The Relationship ◽  
Practical Implications

PurposeThe present study examines the mediating role of teleworking and the moderating role of resilience in explaining the relationship between perceived stress and psychological well-being of working mothers in India. Conservation of resource theory (COR) is taken to support the present study.Design/methodology/approachThe data of 326 respondents has been collected from working mothers in various sectors of Delhi NCR region of India. Confirmatory factor analysis was used for construct validity, and SPSS Macro Process (Hayes) was used for testing the hypotheses.FindingsThe results of the study found an inverse association between perceived stress and psychological well-being. Teleworking acted as a partial mediator and resilience proved to be a significant moderator for teleworking-well-being relationship.Research limitations/implicationsThe study is based at Delhi NCR of India, and future studies may be based on a diverse population within the country to generalize the findings in different cultural and industrial contexts. The present work is based only on the psychological well-being of the working mothers, it can be extended to study the organizational stress for both the genders and other demographic variables.Practical implicationsThe study extends the research on perceived stress and teleworking by empirically testing the association between perceived stress and psychological well-being in the presence of teleworking as a mediating variable. The findings suggest some practical implications for HR managers and OD Practitioners. The organizations must develop a plan to support working mothers by providing flexible working hours and arranging online stress management programs for them.Originality/valueAlthough teleworking is studied previously, there is a scarcity of research examining the impact of teleworking on psychological well-being of working mothers in Asian context. It would help in understanding the process that how teleworking has been stressful for working mothers and also deliberate the role of resilience in the relationship between teleworking and psychological well-being due to perceived stress, as it seems a ray of hope in new normal work situations.

Does investment in innovation impact firm performance in emerging economies? An empirical investigation of the Indian food and agricultural manufacturing industry

2021 ◽  
Vol 13 (2) ◽  
pp. 233-248
Author(s):  
Manogna R.L. ◽  
Aswini Kumar Mishra
Keyword(s):  
Firm Performance ◽  
Manufacturing Industry ◽  
Emerging Market ◽  
Developed Countries ◽  
Emerging Economy ◽  
Content Type ◽  
Agricultural Industry ◽  
Indian Food ◽  
The Impact ◽  
The Relationship

Purpose The study aims to analyze the impact of Research & Development (R&D) intensity on the firm’s performance, measured by growth of sales in the emerging market like India. Innovation strategy and its outcomes for firms may be different in developing countries as compared to developed countries. Thus, a study that focuses on the emerging economy like India, with a majority of the population dependent on agriculture, is of prime importance to the firm performance in the food and agricultural manufacturing industry. For this study, the broader focus will be on one widely recognised factor which may influence the growth rate of firms, i.e. investment in innovations which is in terms of R&D expenditure. Design/methodology/approach The paper investigates the relationship between the R&D efforts and growth of firms in the Indian food and agricultural manufacturing industry during 2001–2019. To empirically test the relationship between firm’s growth (FG) and R&D investments, system generalised method of moments technique has been used, hence enabling to avoid problems related to endogeneity and simultaneity. Findings The findings reveal that investments in innovations have a positive effect on the growth of firms in the Indian food and agricultural manufacturing industry. Investment in R&D also enables the firms to reap benefits from externalities present in the industry. Further analysis reveals that younger firms grow faster when they invest in R&D. More specifically, this paper finds evidence in the case of the food and agricultural industry that import of raw materials negatively affects the FG and export intensity positively affects the growth in the case of R&D firms. Research limitations/implications This study suggests that the government should encourage the industries to invest optimally in R&D projects by providing favourable fiscal treatments and R&D subsidies which are observed to have positive effects in various developed countries. Originality/value To the best of the author’s knowledge, the current paper is the first to analyse the impact of innovation in food and agricultural industry on firm’s performance in an emerging economy context with the latest data. This paper agrees that a government initiative to increase private R&D expenditure would have favourable effects on FG as growing investments in R&D lead to further growth of the firms.

The impact of artificial intelligence (AI) finance on financing constraints of non-SOE firms in emerging markets

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jun Shao ◽  
Zhukun Lou ◽  
Chong Wang ◽  
Jinye Mao ◽  
Ailin Ye
Keyword(s):  
Emerging Markets ◽  
Emerging Market ◽  
Financing Constraints ◽  
Content Type ◽  
Emerging Market Countries ◽  
Finance Development ◽  
Cash Flow Sensitivity ◽  
The Impact ◽  
The Relationship ◽  
Practical Implications

PurposeThis study investigates the impact of AI finance on financing constraints of non-SOE firms in an emerging market.Design/methodology/approachUsing a sample of non-SOE listed companies in China from 2011 to 2018, this research employs the cash–cash flow sensitivity model to examine the effect of AI finance on financing constraints of non-SOE firms.FindingsWe find that the development of AI finance can alleviate the financing constraints of non-SOE firms. Further, we document that such effect is more pronounced for smaller firms, more innovative firms and firms in developing areas.Practical implicationsThis study suggests that emerging market countries can ease the financing constraints of non-SOE firms by promoting AI finance development.Originality/valueThis study, to the best of our knowledge, is the first one to explore the relationship between AI finance development and financing constraints of non-SOE firms in emerging markets.

Investigating antecedents of transformational leadership in students

2019 ◽  
Vol 12 (1) ◽  
pp. 80-94 ◽  
Author(s):  
Kerri Anne Crowne
Keyword(s):  
Transformational Leadership ◽  
Leadership Skills ◽  
Hierarchical Regression ◽  
Cross Sectional ◽  
Content Type ◽  
Business Educators ◽  
The Impact ◽  
The Relationship ◽  
Us University ◽  
Practical Implications

Purpose This study investigates the relationships among cultural intelligence (CQ), personality and transformational leadership in a student population. The purpose of this paper is to examine the impact of CQ on transformational leadership to see if a relationship exists beyond personality. Design/methodology/approach Hypotheses are presented and tested on a sample of 465 undergraduate and graduate students who attended a large northeastern US university. Hierarchical regression was used to conduct the analysis, and multiple models were generated to test the relationships posited. Findings The data showed that CQ affected transformational leadership; however, when examining the subcomponents of CQ, only behavioral CQ had an impact on transformational leadership beyond personality. Research limitations/implications The surveys were self-reported and cross-sectional, so causality could not be determined. Furthermore, the sample, while diverse, was composed of students. However, scholars will find value in this research because it expands the understanding of CQ. Practical implications The findings of this research indicate that behavioral CQ impacts transformational-leadership skills. Thus, business educators should consider how to build skills associated with behavioral CQ in students because of the importance of global transformational-leadership skills in the workplace. Originality/value This research will impact the literature streams of CQ and transformational leadership because it is the first to examine the relationship between the two while controlling for personality.

Chasing productivity demands, worker well-being, and firm performance

2020 ◽  
Vol 49 (9) ◽  
pp. 1823-1843
Author(s):  
Mastura Ab Wahab ◽  
Ekrem Tatoglu
Keyword(s):  
Firm Performance ◽  
Well Being ◽  
Manufacturing Firms ◽  
Equation Modeling ◽  
Flexible Work Arrangements ◽  
Flexible Work ◽  
Content Type ◽  
Work Arrangements ◽  
The Impact ◽  
The Relationship

PurposeThis study aims to examine the impact of chasing productivity demands on worker well-being and firm performance in manufacturing firms in Malaysia. Flexible work arrangements and human resources support are used as moderators to mitigate the adverse impacts associated with chasing productivity demands.Design/methodology/approachData were collected from 213 workers from manufacturing firms through a survey questionnaire utilizing structural equation modeling.FindingsThe findings of the study show that flexible work arrangements play a significant role in moderating the relationship between chasing productivity demands and well-being, and between chasing productivity demands and firm performance. The study also shows that flexible work arrangements are important to buffer the adverse effects of chasing productivity demands on worker well-being. In addition, flexible work arrangements strengthen the positive effect of worker well-being on firm performance.Research limitations/implicationsThis study highlights the importance of flexible work arrangements in overcoming the negative impact of the relationship between chasing productivity demands and worker well-being and strengthening the positive impact of the relationship between worker well-being and firm performance.Originality/valueThis study has extended the variable of chasing productivity demands in the existing literature on the job demands–job control model, specifically in manufacturing firms.

Feminine? Masculine? Androgynous leadership as a necessity in COVID-19

2020 ◽  
Vol 35 (7/8) ◽  
pp. 607-617
Author(s):  
Stacy Blake-Beard ◽  
Mary Shapiro ◽  
Cynthia Ingols
Keyword(s):  
Leadership Style ◽  
Health Care Systems ◽  
Leadership Skills ◽  
Leadership Traits ◽  
Political Leaders ◽  
Content Type ◽  
Care Systems ◽  
The Impact ◽  
The Relationship ◽  
Practical Implications

Purpose The purpose of this paper is to explore the relationship between leaders’ expressed traits and their impact on their country’s COVID-19 outcomes. Some leaders are over relying on masculine traits and dismissing feminine traits. An alternative – androgynous leadership – supports leaders in drawing from the full portfolio of behaviors. Design/methodology/approach This paper has a theoretical approach using an extensive review of the literature. Findings Leaders can take a number of actions to fully embrace androgynous leadership. These actions include building a diverse “tempered” team, communicating with respect, recognizing the impact of framing and moving from autopilot to realizing their best androgynous self. Research limitations/implications Research limitations include a critique of Bem’s framework as outdated and dichotomous; a categorization of feminine, masculine and neutral behaviors that is determined by the authors; and a focus on leadership style that does not take other dimensions, such as health-care systems, into account. Practical implications The authors propose that an “androgynous” leadership style has been used effectively by some political leaders around the globe in the COVID-19 crisis. The COVID-19 context has provided a laboratory for developing and building competence as androgynous leaders. Social implications The mental capacity to look at a situation, pause and explicitly select effective behavior is necessary, but oftentimes, it is not put into practice. By not drawing from a larger portfolio of androgynous behaviors, the opportunity for leaders to their best work is missed. Originality/value There is an acknowledgement of the benefits of the combination of masculine and feminine leadership traits. There are also clear recommendations supporting leaders in developing their androgynous leadership skills.

scholarly journals Impact of governance structures on environmental disclosures in the Middle East and Africa

2020 ◽  
Vol 20 (4) ◽  
pp. 739-763 ◽  
Author(s):  
Erhan Kilincarslan ◽  
Mohamed H. Elmagrhi ◽  
Zezeng Li
Keyword(s):  
Corporate Governance ◽  
Middle East ◽  
Gender Diversity ◽  
Governance Structures ◽  
Environmental Disclosure ◽  
Content Type ◽  
Environmental Disclosures ◽  
The Impact ◽  
The Relationship ◽  
Practical Implications

Purpose This study aims to investigate the impact of corporate governance structures on environmental disclosure practices in the Middle East and Africa (MEA). Design/methodology/approach The research model uses a panel data set of 121 publicly listed (non-financial and non-utility) firms from 11 MEA countries over the period 2010-2017, uses alternative dependent variables and regression techniques and is applied to various sub-groups to improve robustness. Findings The empirical results strongly indicate that MEA firms with high governance disclosures tend to have better environmental disclosure practices. The board characteristics of gender diversity, size, CEO/chairperson duality and audit committee size impact positively on MEA firms’ voluntary environmental disclosures, whereas board independence has a negative influence. Research limitations/implications This study advances research on the relationship between corporate governance structures and environmental disclosure practices in MEA countries, but is limited to firms for which data are available from Bloomberg. Practical implications The results have important practical implications for MEA policymakers and regulators. The positive impact of board gender diversity on firms’ environmental disclosures, policy reforms should aim to increase female directors. MEA corporations aiming to be more environmentally friendly should recruit women to top managerial positions. Originality/value This is thought to be the first study to provide insights from the efficiency and legitimation perspectives of neo-institutional theory to explain the relationship between MEA firms’ internal governance structures and environmental disclosures.

Increasing the impact of SHRM on organizational performance

2019 ◽  
Vol 27 (5) ◽  
pp. 7-8
Keyword(s):  
Firm Performance ◽  
Organizational Performance ◽  
Design Methodology ◽  
Reading Time ◽  
Content Type ◽  
Pertinent Information ◽  
The Impact ◽  
Practical Implications ◽  
Overall Effectiveness

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 their own impartial comments and places the articles in context. Findings The role of HRM is increasingly being viewed in strategic as well as functional terms. The impact of SHRM on firm performance is also determined by factors in its internal and external contexts. Balance between these contextual dimensions and input from various actors in the organization can help increase the overall effectiveness of a SHRM system. 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.

Sign in / Sign up

Export Citation Format

Share Document