Whom you borrow from matters: universal banks and firm innovation

2019 ◽  
Vol 45 (8) ◽  
pp. 1001-1019 ◽  
Author(s):  
Haizhi Wang ◽  
Desheng Yin ◽  
Xiaotian Tina Zhang ◽  
Xinting Zhen
Keyword(s):  
Capital Market ◽  
Design Methodology ◽  
Bank Lending ◽  
External Funding ◽  
Firm Innovation ◽  
Content Type ◽  
Innovation Activities ◽  
Universal Bank ◽  
Potential Channels

Purpose The purpose of this paper is to empirically investigate universal banks as an important source of external funding and their effects on borrowing firms’ innovation outputs. Design/methodology/approach The authors employ regression analyses including a difference-in-difference approach and a two-sided matching method to ensure the robustness of the findings. The authors further explore some potential channels and boundary conditions for the main findings. Findings The authors find that borrowing from universal banks is negatively associated with the quantity of firm innovation, but not the quality of firm innovation. The authors document that borrowing firms reduce their R&D expenditures and rely more on external partners to produce innovation outputs after loan originations from universal banks. The negative relation between universal bank lending and the quantity of firm innovation is more prominent for unrelated innovation and for financially constrained firms. Research limitations/implications The evidence reveals that universal banks may use their informational advantage and market power to limit their corporate borrowers’ investment in innovation activities. Originality/value The paper extends the line of research on the source of financing and firm innovation, and establishes a robust relationship between capital market and product market.

scholarly journals The future of financial markets and regulation: what strategy for Europe?

foresight ◽  
2014 ◽  
Vol 16 (2) ◽  
pp. 95-108 ◽  
Author(s):  
Jean-Baptiste Gossé ◽  
Dominique Plihon
Keyword(s):  
Financial Markets ◽  
Capital Market ◽  
Financial Stability ◽  
Design Methodology ◽  
Financial Integration ◽  
Content Type ◽  
Realistic Option ◽  
The Future ◽  
Unstable Environment ◽  
Insight Into

Purpose – This article aims to provide insight into the future of financial markets and regulation in order to define what would be the best strategy for Europe. Design/methodology/approach – First the authors define the potential changes in financial markets and then the tools available for the regulator to tame them. Finally, they build five scenarios according to the main evolutions observed on the financial markets and on the tools used by the regulator to modify these trends. Findings – Among the five scenarios defined, two present highly unstable features since the regulator refuses to choose between financial opening and independently determining how to regulate finance in order to preserve financial stability. Three of them achieve financial stability. However, they are more or less efficient or feasible. In terms of market efficiency, the multi-polar scenario is the best and the fragmentation scenario is the worst, since gains of integration depend on the size of the new capital market. Regarding sovereignty of regulation, fragmentation is the best scenario and the multi-polar scenario is the worst, because it necessitates coordination at the global level which implies moving further away from respective national preferences. However, the more realistic option seems to be the regionalisation scenario: this level of coordination seems much more realistic than the global one; the market should be of sufficient size to enjoy substantial benefits of integration. Nevertheless, the “European government” might gradually increase the degree of financial integration outside Europe in line with the degree of cooperation with the rest of the world. Originality/value – Foresight studies on financial markets and regulation are quite rare. This may be explained by the difficulty to forecast what will be their evolution in the coming decades, not least because finance is fundamentally unstable. This paper provides a framework to consider what could be the best strategy of regulators in such an unstable environment.

Qualitative generalising in accounting research: concepts and strategies

2016 ◽  
Vol 29 (6) ◽  
pp. 1100-1131 ◽  
Author(s):  
Lee D. Parker ◽  
Deryl Northcott
Keyword(s):  
Design Methodology ◽  
Research Literature ◽  
Key Factors ◽  
General Applicability ◽  
Information Systems Management ◽  
Content Type ◽  
Accounting Research ◽  
Research Findings ◽  
Quality Of Research

Purpose – The purpose of this paper is to identify and articulate concepts and approaches to qualitative generalisation that will offer qualitative accounting researchers avenues for enhancing and justifying the general applicability of their research findings and conclusions. Design/methodology/approach – The study and arguments draw from multidisciplinary approaches to this issue. The analysis and theorising is based on published qualitative research literatures from the fields of education, health sciences, sociology, information systems, management and marketing, as well as accounting. Findings – The paper develops two overarching generalisation concepts for application by qualitative accounting researchers. These are built upon a number of qualitative generalisation concepts that have emerged in the multidisciplinary literatures. It also articulates strategies for enhancing the generalisability of qualitative accounting research findings. Research limitations/implications – The paper provides qualitative accounting researchers with understandings, arguments and justifications for the generalisability of their research and the related potential for wider accounting and societal contributions. It also articulates the key factors that impact on the quality of research generalisation that qualitative researchers can offer. Originality/value – This paper presents the most comprehensively sourced and developed approach to the concepts, strategies and unique deliverables of qualitative generalising hitherto available in the accounting research literature.

scholarly journals Who guarantees the quality of the quality assurance agencies? The exploration of the establishment and growth of the Asia-Pacific Quality Register (APQR)

2017 ◽  
Vol 11 (2) ◽  
pp. 58-67 ◽  
Author(s):  
Jianxin Zhang ◽  
Jagannath Patil
Keyword(s):  
Higher Education ◽  
Quality Assurance ◽  
Design Methodology ◽  
Asia Pacific ◽  
Qualitative Assessment ◽  
Future Prospects ◽  
Asia Pacific Region ◽  
Content Type ◽  
Quality Register

Purpose After the “quantity era,” today higher education has entered into the “quality era” and as “the gate keepers of quality,” quality assurance agencies (QAAs) are playing more and more irreplaceable important roles and their social status are becoming more and more prominent. However, how to guarantee the quality of the QAAs? Who can review the QAAs? The purpose of this paper is based exploration of these questions. Design/methodology/approach Following the founding of the European Quality Assurance Register (EQAR) for Higher Education, the Asia Pacific Quality Register (APQR) became the second in the international quality assurance (QA) networks to implement QA register, in 2015 with initiative of Asia-Pacific Quality Network. Findings This paper first retrospects the history and process of APQR, and subsequently the implementation of APQR is described in detail from the two aspects of the criteria and the procedure, and at the end, the paper concludes with a summary of the three characteristics of this first formal implement of APQR: APQR is an international register open to all the QAAs; APQR emphasizes characteristics evaluation of diversity; and APQR highlights the combination of quantitative assessment and qualitative assessment. Originality/value Today on the international stage of QA, APQR has emerged as “the watchman of quality” in the Asia-Pacific region as counterpart of EQAR in Europe. How far away does such newly emerging form of guaranteeing the QAAs’ quality go forward, what is its future prospects and other concerning issues, are some of the question that need enthusiastic attention and contribution.

The prediction of the cyclic mechanical behavior of stainless steel 304L at room temperature

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Hala Messai ◽  
Salim Meziani ◽  
Athmane Fouathia
Keyword(s):  
Stainless Steel ◽  
Design Methodology ◽  
Room Temperature ◽  
Type Model ◽  
Good Prediction ◽  
304L Stainless Steel ◽  
Content Type ◽  
The Third ◽  
Chaboche Model

Purpose The purpose of this paper is to highlight the performance of the Chaboche model in relation to the database identification, tests with imposed deformations were conducted at room temperature on 304L stainless steel specimens. Design/methodology/approach The first two tests were performed in tension-compression between ±0.005 and ±0.01; in the third test, each cycle is composed of the combination of a compression tensile cycle between ±0.01 followed by a torsion cycle between ±0.01723 (non-proportional path), and the last, uniaxial ratcheting test with a mean stress between 250 MPa and −150 MPa. Several identifications of a Chaboche-type model were then performed by considering databases composed of one or more of the cited tests. On the basis of these identifications, the simulations of a large number of ratchet tests in particular were carried out. Findings The results present the effect of the optimized parameters on the prediction of the behavior of materials which is reported in the graphs, Optimizations 1 and 2 of first and second tests and Optimization 4 of the third test giving a good prediction of the increasing/decreasing pre-deformation amplitude. Originality/value The quality of the model's predictions strongly depends on the richness of the database used for the identification of the parameters.

The effect of export tax rebates on product quality: evidence from China's agricultural product processing industry

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yue Liang ◽  
Jingqi Dang ◽  
Shuai Chen
Keyword(s):  
Quality Improvement ◽  
Product Quality ◽  
Policy Implications ◽  
Medium Size ◽  
Agricultural Product ◽  
Firm Innovation ◽  
Processing Industry ◽  
Content Type ◽  
Export Tax

PurposeThis study aims to establish the linkage among export tax rebate (ETR), firm innovation and product quality of Chinese agricultural product processing industry (APPI), so that more targeted policy implications can be discussed.Design/methodology/approachUsing highly disaggregated firm-product-destination-level data through 2001 to 2013 of Chinese APPI, this study employs a two-way fixed effects specification to establish the linkage between ETR and product quality, while the mediational model is adopted to examine potential mechanisms.FindingsBaseline estimates show that a 1% increase in ETR rate leads to a significant increase in the product quality of APPI by 0.12% on the whole. However, there is a nonlinear, inverse-U shaped relationship between ETR and product quality, and the optimal inflection point occurs when ERT rate equals 0.15. Mechanism analyses show that firm innovation is an important impact channel, which explains 9.8% of quality improvement induced by raising ETR. Further heterogeneous analyses reveal both the total effects of ETR on product quality and the mediation effects of innovation are dominated by young SMEs (small and medium-size enterprises).Practical implicationsAuthorities can promote the innovation and then product quality improvement of young SMEs by moderately increasing ETR rate. To ensure ETR more effective in improving quality, it is necessary for the government to encourage innovation. Authorities can reduce the risk of innovation failure for low-tech firms by increasing R&D subsidies, while ensuring innovation returns for high-tech firms in combination with stronger intellectual property protection.Originality/valueFirst, this is one of the earlier studies to explore the relationship between ETR and product quality specifically for Chinese APPI. Second, we show firm innovation as an important mediator so that policies aim at raising ETR rates are eventually beneficial to product quality. Third, using the highly disaggregated data, we allow ETR rate to vary across different products, which is an improvement in the accuracy of previous literature. Finally, our research provides additional empirical evidence for revealing the micro-mechanism of ETR affecting firm behaviors.

Who is a “Senior”? Looking for a definition in the healthcare system

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Monica Consolandi
Keyword(s):  
Quality Of Life ◽  
Health Care ◽  
Healthcare System ◽  
Health Care System ◽  
Design Methodology ◽  
Social Role ◽  
Content Type ◽  
The Core ◽  
Starting Point

Purpose Seniors are nowadays at the core of important reflections to understand both how to ensure them a proper quality of life and better recognize their social role, providing them services and proper health care to value them as persons and resources. This paper aims to find a through definition about who is a senior, in the author’s opinion the starting point to help them flourishing. Design/methodology/approach As an example of definitions, an online dictionary and two geriatric text-books are quoted, highlighting qualities and rights referred to seniors especially in the delicate context of the health-care system. Findings The lack of a commonly shared perspective on this delicate kind of patient entails the difficulty to reach a coherent and satisfying definition about who a senior is. Originality/value The lack of a commonly shared definition leads to inevitable misunderstandings and could explain the arduousness of considering seniors in all their aspects. Further investigations are suggested.

Hedonic experiences at heritage attractions: the visitor’s perspective

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ana Carolina Bender ◽  
Manuela Guerreiro ◽  
Bernardete Dias Sequeira ◽  
Júlio Mendes
Keyword(s):  
Design Methodology ◽  
Theory And Practice ◽  
Structured Interviews ◽  
Content Type ◽  
Heritage Sites ◽  
Exploratory Approach ◽  
Hedonic Experience ◽  
Using Data

Purpose The purpose of this study is to explore the hedonic experience and its formation at heritage attractions. Design/methodology/approach A qualitative and exploratory approach was applied, using data from 21 semi-structured interviews and three in-situ focus groups. Findings Findings highlight that senses, imagery and emotions are stimulated by the physical landscape and by triggers of memorable experiences. Research limitations/implications To further explore this topic, a broader range of heritage attractions and perspectives from the diverse stakeholders involved in the management and consumption of these sites is needed. Originality/value Given the scarcity of research dedicated to the hedonic experience at heritage sites, this study provides a contribution by exploring the visitor’s perspective and points out relevant insights. As the hedonic feelings of pleasure, comfort and related affective responses impact the quality of memorable experiences, relevant implications for theory and practice are discussed.

She-E-Os and innovation: do female CEOs influence firm innovation?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Hafiz Mustansar Javaid ◽  
Qurat Ul Ain ◽  
Antonio Renzi
Keyword(s):  
Financial Constraints ◽  
Ordinary Least Squares ◽  
State Ownership ◽  
Corporate Environment ◽  
Firm Innovation ◽  
Content Type ◽  
Innovation Activities ◽  
Female Ceos ◽  
Innovation Output ◽  
The Impact

PurposeThis paper empirically investigates whether female CEOs (She-E-Os) have an effect on firm innovation among Chinese listed firms based on patent data. This study also delved further by looking at whether the internal corporate environment moderates the effect of female CEOs on innovation, that is, state ownership. Finally, this study investigates an additional test of financial constraints to examine whether financial constraints also moderate the impact of female CEOs on firm innovation.Design/methodology/approachThis study used the data of all A-share listed companies on the Shanghai and Shenzhen stock exchanges for the period from 2008 to 2017. The authors use ordinary least squares regression as a baseline methodology, along with firm-fixed effect, lagged measure of female CEOs, alternative measures of innovation, Heckman two-step model and negative binomial regression to check and control the possible issue of endogeneity.FindingsThe authors’ findings show that CEO gender plays an important role in producing higher levels of innovation output by improving the governance structure. However, female CEOs have no effect on state-owned enterprises' (SOEs) innovation activities, which suggests that the main goal of SOEs is achieving sociopolitical objectives. Furthermore, female CEOs' influence on innovation output is weaker in firms with financial constraints.Social implicationsThis study adds to the emerging global discussion on gender diversity. Many legislative bodies require a quota for women on corporate boards due to gender inequality. This study's findings reinforce such guidelines by emphasizing the economic benefits of including women in top management positions.Originality/valueThis study provides new insights by highlighting the role of female CEOs in increasing firms' innovation activities. Additionally, this study provides evidence on whether the internal corporate environment (state ownership and financial constraints) moderates female CEOs' effect on innovation.

Commentary on “The experiences of older carers of people with learning disabilities: ‘I just carry on with it’”

2021 ◽  
Vol 26 (1) ◽  
pp. 58-62
Author(s):  
Jan Sunman
Keyword(s):  
Quality Of Life ◽  
Learning Disabilities ◽  
Lived Experiences ◽  
Design Methodology ◽  
Policy And Practice ◽  
Content Type ◽  
The Voice

Purpose The purpose of this paper is to provide a commentary on the article by Rachel Forrester-Jones on the experiences of older carers of people with learning disabilities. Design/methodology/approach The commentary reflects on the themes identified in the original article, comparing its findings to the lived experiences of those taking part in older carers’ projects in Oxfordshire, England. Findings Similar broad themes were identified in both samples. Given these findings, the extent to which matters have changed, since the Valuing People work on older carers is considered. Originality/value The paper discusses policy and practice implications to improve the quality of life of older carers and their families and explores how the voice of older carers can be strengthened to enable them to shape practice and policy.

scholarly journals Accounting for the messiness of the research process: the fieldpath approach

2018 ◽  
Vol 13 (4) ◽  
pp. 315-332 ◽  
Author(s):  
Perttu Salovaara
Keyword(s):  
Qualitative Research ◽  
Design Methodology ◽  
Research Process ◽  
Content Type ◽  
Environmental Consequences ◽  
Human Ethics ◽  
Conceptual Paper ◽  
The Common ◽  
Practical Implications

Purpose It has recently become more acknowledged that there is a quality of “messiness” to the qualitative research process. The purpose of this paper is to introduce the fieldpath approach—a hermeneutically inspired framework—to account for the non-linearity, uncertainty and ambiguity of the research process. Design/methodology/approach This conceptual paper reviews how the scope of hermeneutics has been partly misunderstood. The paper discusses how the scope of hermeneutics has lately been expanded by works such as Günter Figal’s (2010) Objectivity: The Hermeneutical and Philosophy. Findings The fieldpath approach proposes that a heightened relation to materiality enables the messiness of the process to be preserved, while at the same time offering a way to find one’s footing in the midst of ontologically incomplete phenomena that are still—in a processual fashion—forming and becoming. Research limitations/implications This is a conceptual paper. In addition to the research mentioned here, more studies would be needed to legitimise, test and refine the approach. Practical implications Objectivity provides an additional criterion for researchers to lean on when facing the non-linearity and unexpected turns inherent in the qualitative research process. Social implications The stress on materiality involves an ethical dimension. Post-human ethics are concerned with the future environmental consequences and sustainability of the material world. The way that matter matters in our methodologies is of primary importance. Originality/value First, the paper emphasises that hermeneutics, contrary to the common perception, does offer criteria for evaluating between interpretations. Second, it introduces the notion of hermeneutic objectivity, which stresses the importance of materiality for interpretations. Third, it introduces the fieldpath approach, which, based on the previous criterion of hermeneutic objectivity, allows for the messiness of the research process, while also preserving a tight grip on the hermeneutic imperative of “understanding in a new way”.

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