The impact of religiosity on corporate loans and maturity structure: evidence from China

2017 ◽  
Vol 29 (3) ◽  
pp. 307-329 ◽  
Author(s):  
Fansheng Jia ◽  
Yilin Zhang ◽  
Kam C. Chan ◽  
Sujuan Xie
Keyword(s):  
Design Methodology ◽  
Explanatory Variable ◽  
Private Firm ◽  
Local Culture ◽  
Short Term ◽  
Content Type ◽  
Maturity Structure ◽  
The Impact ◽  
Practical Implications

Purpose This paper aims to examine the relation between religiosity and formal financing in the context of long- and short-term corporate loans. Design/methodology/approach This paper uses archival methodology to conduct a multiple regression analysis with the amount of long- and short-term corporate loans as the dependent variable and a measure of religiosity as the key explanatory variable. Findings This paper offers four findings. First, when a private firm locates in a high religiosity region, it is more likely to get more corporate loans and the amount of corporate loans is positively correlated with the extent of religiosity. Second, religiosity drives a private firm getting more (less) short-term (long-term) loans. Third, a private firm in a high religiosity region is able to incur lower interest cost associated with more short-term loans. Finally, the results are confined to Buddhism, Taoism and Christianity. Practical implications Overall, the findings are consistent with the notion that religiosity shapes the local culture so that individuals, some of them are borrowers and lenders, show the religious traits in the formal lending and borrowing relationship. Originality/value Overall, findings of this paper are consistent with the notion that religiosity shapes the local culture so that individuals, some of them being borrowers and lenders, show religious traits in the formal lending and borrowing relationship.

A directed content analysis of viewpoints on the changing patterns of Lean Six Sigma research

2019 ◽  
Vol 31 (4) ◽  
pp. 641-654 ◽  
Author(s):  
Bryan A. Rodgers ◽  
Jiju Antony ◽  
Zhen He ◽  
Elizabeth A. Cudney ◽  
Chad Laux
Keyword(s):  
Continuous Improvement ◽  
Six Sigma ◽  
Design Methodology ◽  
Lean Six Sigma ◽  
Current Status ◽  
Short Term ◽  
Content Type ◽  
Changing Patterns ◽  
Practical Implications

Purpose The purpose of this paper, builds on previous studies that explored the research patterns over 15 years, is to consider the current status of the integration of Lean and Six Sigma. More specifically, this research addresses whether Lean and Six Sigma are stronger together and explores the reasons why Lean researchers and practitioners may be less likely to integrate Six Sigma in their work. Design/methodology/approach The research utilises a survey of 25 established and respected academics and practitioners from 16 countries. The questionnaire is analysed using a direct content approach and coded in NVivo. Findings The findings suggest that challenges may lie in the perception and understanding of statistics as well as short-term rather than long-term focus on improvement. The findings also suggest that academics and practitioners believe that Lean Six Sigma has developed over time and will continue to develop and improve as a methodology rather than being replaced with a new methodology. Research limitations/implications The survey has a sample size of 25, albeit all respondents are established and very experienced practitioners and academics. Practical implications For organisations that are introducing or refreshing their continuous improvement initiatives, this research identifies some of the challenges and provides the opportunity to address them to maximise the opportunities for success and sustainability. Originality/value The value of this paper is that it further addresses the debate over the integration of Lean and Six Sigma for many organisations which still employ Lean alone, but beyond this it explores how they will continue to develop and whether they are a permanent edition to the quality management landscape or a transition to something else.

The impact of corporate governance code on earnings management in listed non-financial firms

2017 ◽  
Vol 7 (4) ◽  
pp. 428-444 ◽  
Author(s):  
Erick Rading Outa ◽  
Paul Eisenberg ◽  
Peterson K. Ozili
Keyword(s):  
Corporate Governance ◽  
Earnings Management ◽  
Design Methodology ◽  
Explanatory Variable ◽  
Content Type ◽  
Listed Firms ◽  
Financial Firms ◽  
New Institutions ◽  
The Impact ◽  
Practical Implications

Purpose The purpose of this paper is to examine whether voluntary corporate governance (CG) code issued in 2002 constrain earnings management (EM) among listed non-finance companies in Kenya. Design/methodology/approach Using a panel data of 338-firm year’s observations between 2005 and 2014, the authors test the hypothesis that CG constrains EM in non-finance firms listed in Kenya. The authors regress discretionary accruals (DA) against a developed Corporate Governance Index (CGI). Findings The overall results show that DA is not significantly related to CG suggesting the voluntary CG code does not deter EM in non-finance companies in Kenya. Practical implications Evidence of income decreasing\increasing accruals implies EM still exists among the listed firms. This suggests that policymakers may need to consider radical actions including alternative or new CG approaches and new institutions to improve the effectiveness of CG. Originality/value This study extends existing studies by including composite CG as possible explanatory variable for constraining EM. The authors contribute to the debate by demonstrating that the voluntary CG code in Kenya is not effective in constraining DA and therefore the current initiatives by the regulator to change the current CG code are appropriately directed.

scholarly journals All insects are equal, but some insects are more equal than others

2018 ◽  
Vol 120 (4) ◽  
pp. 852-863 ◽  
Author(s):  
Arnout R.H. Fischer ◽  
L.P.A. (Bea) Steenbekkers
Keyword(s):  
Design Methodology ◽  
Prior Experience ◽  
Future Research ◽  
Valuable Contribution ◽  
Short Term ◽  
Content Type ◽  
Quasi Experimental ◽  
Insects As Food ◽  
Practical Implications

Purpose Lack of acceptance of insects as food is considered a barrier against societal adoption of the potentially valuable contribution of insects to human foods. An underlying barrier may be that insects are lumped together as one group, while consumers typically try specific insects. The purpose of this paper is to investigate the ways in which Dutch consumers, with and without insect tasting experience, are more or less willing to eat different insects. Design/methodology/approach In a quasi-experimental study (n=140), the participants with and without prior experience in eating insects were asked to give their willingness to eat a range of insects, and their attitudes and disgust towards eating insects. Findings Insects promoted in the market were more preferred than the less marketed insects, and a subgroup of preferred insects for participants with experience in eating insects was formed. Research limitations/implications Although well-known insects were more preferred, general willingness to eat remained low for all participants. The results indicate that in future research on insects as food the specific insects used should be taken into account. Practical implications Continued promotion of specific, carefully targeted, insects may not lead to short-term uptake of insects as food, but may contribute to willingness to eat insects as human food in the long term. Originality/value The paper shows substantial differences between consumers who have and who have not previously tasted insects, with higher acceptance of people with experience in tasting insects for the specific insects that are frequently promoted beyond their generally more positive attitude towards eating insects.

The impact of the reform of PIS/COFINS on the Brazilian industry

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Pedro Gomes Vasconcelos ◽  
Nelson Leitão Paes
Keyword(s):  
Design Methodology ◽  
Added Value ◽  
Neoclassical Model ◽  
Short Term ◽  
Content Type ◽  
Macroeconomic Indicators ◽  
Tax Distortions ◽  
The Impact ◽  
Two Sectors

PurposeIn an attempt to reduce tax distortions and increase economic efficiency, in 2002 and 2003 Brazil promoted changes in the PIS/COFINS tax, the main federal tax on consumption. Thus, in addition to the old cumulative regime calculated on company revenues, the noncumulative regime was created with higher rates and the added value as a tax basis.Design/methodology/approachThis paper analyzes the effects of the PIS/COFINS reform in a context of deindustrialization in the Brazilian economy, using a neoclassical model with two sectors.FindingsThe results suggest that after a small improvement in the aggregate economy in the short term, in the long term there was a worsening of the macroeconomic indicators. From the sector perspective, the PIS/COFINS reform may have contributed to the loss of industry participation in the Brazilian economy.Originality/valueThe study of the impact of the PIS/COFINS reform on industry through a neoclassical model is unprecedented in the national literature and contributes to the investigation of changes in the tax regime that occurred in the country.

Processes of vulnerability in England? Place, poverty and susceptibility

2014 ◽  
Vol 23 (5) ◽  
pp. 586-609 ◽  
Author(s):  
James Lewis ◽  
Sarah A.V. Lewis
Keyword(s):  
Social Vulnerability ◽  
Design Methodology ◽  
Field Research ◽  
Content Type ◽  
Behavioural Responses ◽  
Disaster Impacts ◽  
Food Nutrition ◽  
The Impact ◽  
Practical Implications

Purpose – The purpose of this paper is to emphasise how vulnerability is not only “place-based” and to explore by example how vulnerability to hazards in England may comprise additional economic, social and psychological contributors to poverty. The mutuality of poverty and vulnerability is demonstrated, as are examples of susceptibility of the vulnerable to stigmatic disregard and cruelty. Design/methodology/approach – “Place-based” vulnerability is exemplified by coastal vulnerabilities and causes of their increase. Poverty and its causes are explained, followed by examples of possible contributors, indicators and consequences in incomes, living costs and debt; housing welfare and homelessness; food, nutrition, health and mental ill-health. Susceptibility to stigmatic behaviours exacerbate personal vulnerabilities. Findings – Dynamics of mutual inter-relationships between poverty and vulnerability are demonstrated. Behavioural responses to either condition by individuals and by society at large, to which those who are vulnerable or in poverty are susceptible, are described in the present and from history. Research limitations/implications – Findings form a “theoretical reality” upon which some measures may follow. An additional need is identified for long-term social field research to follow adults’ and childrens’ experiences, and consequences of poverty in vulnerable situations. Practical implications – Vulnerability accrues irrevocably between disasters, the results of which may be exposed by disaster impacts. Social implications – Recognition of linkages between economic and social vulnerability and disasters is essential for subsequent action to reduce the impact of disasters upon society. Originality/value – Though vulnerability has been explored for many years, the dynamics of its contributing processes require further explanation before their wider comprehension is achieved.

How blended learning can create a more inclusive culture

2014 ◽  
Vol 13 (3) ◽  
pp. 118-122
Author(s):  
Angela Peacock
Keyword(s):  
Organizational Climate ◽  
Design Methodology ◽  
Short Term ◽  
Content Type ◽  
Company Culture ◽  
New Perspective ◽  
Business As Usual ◽  
Practical Implications ◽  
Lasting Change

Purpose – The challenges and problems that organizations face nowadays are often due to there being a gap between their current situation and where they want to be. Often this disparity between perception and reality is caused by something deep and fundamental in the company culture – something that may not be readily apparent to those working there. This paper aims to deal with the question of how to create genuine, lasting change in organizational climate so that all employees feel they can bring all of themselves to work, without fear or judgment and with a deep belief that their contributions will be heard. Design/methodology/approach – There are a number of reasons why driving an inclusive culture is so difficult and this paper identifies a new perspective on developing and embedding inclusion. Most importantly, it addresses how a bespoke, blended approach to any input will allow you to implement training that really works. Findings – Many organizations view fixing problems with company culture as an expensive luxury with unpredictable outcomes. As a result, the kind of training that embeds genuine, lasting change is often overlooked in favor of short-term solutions that do not get to the root of the problem. A bespoke, blended approach allows for training that really works long term and therefore ensures the greatest possible value for your organization. Practical implications – A blended approach done well should be a powerful, joined up and strategic driver that enables an inclusive culture to be created, resulting in it becoming business as usual, where the best available talent is attracted, thrives and drives your strategic aims and your business forwards. Originality/value – Often the kind of training that gets done in this area is short term and does not get to the root of the problem. This paper provides guidance in developing and embedding inclusion and although it may challenge beliefs if these principles are followed it will guarantee rapid, lasting improvements at all levels.

Impact of new forms of learning in interest-driven communities to future pathways for youth

2016 ◽  
Vol 24 (3) ◽  
pp. 227-234 ◽  
Author(s):  
Crystle Martin
Keyword(s):  
Online Communities ◽  
Design Methodology ◽  
Career Trajectory ◽  
Professional Wrestling ◽  
Content Type ◽  
The Future ◽  
New Forms Of Learning ◽  
The Impact ◽  
Practical Implications

Purpose This paper demonstrates the impact of recognition and valuation of youth interest on potential career trajectory and future pathway choices. Design/methodology/approach This paper presents data from two ethnographies. The first ethnography is of an online professional wrestling fan community, which took place between October 2012 and May 2013. The second ethnography is of the online Scratch community, Scratch is a free online coding program. Observations of the community took place between October 2014 and October 2015, with interviews ongoing as of the writing of this paper. Findings This paper details the importance of valuing youth learning and the impact that receiving recognition and valuation can have on youths’ future choices. Research limitations/implications This research focuses on two online communities and presents four examples of the phenomena of valuation and recognition described in the paper. To draw broad conclusions, a wider sample would be required. Practical implications This paper can offer examples to practitioners and researcher alike as to what the impacts of valuing youth learning in interest-driven contexts can be for youth long-term learning and career trajectory and forms that the valuation of interest to support growth and interest can take. Originality/value The paper demonstrates the importance of valuing learning in all parts of youths’ lives and the impact that the valuation can have on the future pathways and career trajectory of youth.

The effects of IT: from performance to value

2014 ◽  
Vol 114 (1) ◽  
pp. 70-85 ◽  
Author(s):  
Chorng-Shyong Ong ◽  
Po-Yen Chen
Keyword(s):  
Firm Performance ◽  
Firm Value ◽  
Design Methodology ◽  
Test Methods ◽  
Short Term ◽  
Content Type ◽  
Sustained Competitive Advantage ◽  
It Capabilities ◽  
Practical Implications

Purpose – The purpose of this paper is to differentiate and define the concepts of firm performance and firm value. Then, the implications of information technology (IT)-enabled firm performance and firm value will be clarified. Finally, the effects of IT capabilities on firm performance and firm value will be compared. Design/methodology/approach – InformationWeek's IT leader rankings (from 1998 to 2011) are used for analysis in a longitudinal study. Three different test methods (i.e. significant years, significant levels, and adjusted-previous performance) are used. Findings – It is confirmed that no matter which tests are examined, the contributions of IT capabilities to firm value are all greater than those to firm performance. This also shows that IT contributes to long-term influences more than it does to short-term influences. Research limitations/implications – This study confirms that firm performance (accounting-based measures) and firm value (financial market-based measures) are two different variables and IT capabilities affect these two parts differently. Practical implications – Firms should use a long-term viewpoint to deploy their IT strategies. This will create a long-term growth of firm value leading to greater competitiveness, and, ultimately, sustained competitive advantage. Originality/value – The differences between firm performance and firm value in measurements, characteristics, and implications are specified. The empirical study confirms that IT capabilities contribute more to firm value than to firm performance, although IT capabilities influence both at the same time.

Prediction of user interest fluctuation using fuzzy neural networks in web search

2020 ◽  
Vol 8 (4) ◽  
pp. 307-319
Author(s):  
Senthilkumar N C ◽  
Pradeep Reddy Ch
Keyword(s):  
Design Methodology ◽  
Web Search ◽  
Fuzzy Neural Networks ◽  
User Interest ◽  
Short Term ◽  
Content Type ◽  
Temporal Aspects ◽  
Fuzzy Neural ◽  
Practical Implications

PurposeThe user interest in content searching in the web will be changed over by time.Design/methodology/approachThe system is in need to find the content of user over the temporal aspects.FindingsSo, predicting the user interest over the time by analyzing the fluctuations of their search keyword is important.Research limitations/implicationsSo, predicting the user interest over the time by analyzing the fluctuations of their search keyword is important.Practical implicationsIn this work, fuzzy neural network techniques are used to predict the user interest fluctuation in different times in different scenarios.Social implicationsIn this proposed work, both the long-term and short-term interest are evaluated using the specialized user interface designed to retrieve the user interest based on the user searching activities.Originality/valueThis work also categorizes the future needs of users using this proposed system.

Acquisitions and the shareholder base

2019 ◽  
Vol 45 (10/11) ◽  
pp. 1416-1432
Author(s):  
Nicholas Wonder ◽  
Claire Lending
Keyword(s):  
Design Methodology ◽  
Market Value ◽  
Empirical Literature ◽  
Content Type ◽  
Short And Long Term ◽  
Long Term Impact ◽  
The Impact ◽  
Instrumental Variables Approach ◽  
Practical Implications

Purpose The purpose of this paper is to study the impact of acquisitions on the number of shareholders of the acquirer (the shareholder base) and relate that effect to the method of payment and the ratio between the target’s and acquirer’s shareholder bases prior to the acquisition. Design/methodology/approach Using 348 acquisitions from 1993 to 2013 for which both parties are public, American firms, the paper measures changes in the acquirer’s shareholder base from before announcement through to four years after completion. OLS regressions, together with an instrumental variables approach addressing the endogeneity of acquisition payment, indicate the determinants of those changes. Findings Acquisitions completed partly or entirely in stock lead to large increases in the shareholder base, and the increases mostly endure over the four-year window examined in the study. Regression results indicate that the target to acquirer shareholder ratio has a much greater impact on the acquirer’s base for stock acquisitions than for cash acquisitions. The ratio is also associated with changes in beta. Practical implications Because existing theoretical and empirical literature shows that the shareholder base impacts the risk, liquidity, and market value of stock, managers evaluating potential targets and modes of payment may wish to consider the likely impact on their firms’ shareholder bases, as may investors contemplating the effects of an acquisition announcement. Originality/value This is the first work documenting both a short- and long-term impact of acquisitions on the shareholder base and the first to investigate the determinants of the change in the base.

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