Business Commons^™

Inflection Points, Kinks, And Jumps: A Statistical Approach To Detecting Nonlinearities, Peren Arin, Maria Minniti, Samuele Murtinu, Nicola Spagnolo

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Inflection points, kinks, and jumps identify places where the relationship between dependent and independent variables switches in some important way. Although these switch points are often mentioned in management research, their presence in the data is either ignored, or postulated ad hoc by testing arbitrarily specified functional forms (e.g., U or inverted U-shaped relationships). This is problematic if we want accurate tests for our theories. To address this issue, we provide an integrative framework for the identification of nonlinearities. Our approach constitutes a precursor step that researchers will want to conduct before deciding which estimation model may be most appropriate. …

Modelling Customers Credit Card Behaviour Using Bidirectional Lstm Neural Networks, Maher Ala’Raj, Maysam F. Abbod, Munir Majdalawieh

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With the rapid growth of consumer credit and the huge amount of financial data developing effective credit scoring models is very crucial. Researchers have developed complex credit scoring models using statistical and artificial intelligence (AI) techniques to help banks and financial institutions to support their financial decisions. Neural networks are considered as a mostly wide used technique in finance and business applications. Thus, the main aim of this paper is to help bank management in scoring credit card clients using machine learning by modelling and predicting the consumer behaviour with respect to two aspects: the probability of single and consecutive …

Dynamic Spillovers Between The Term Structure Of Interest Rates, Bitcoin, And Safe-Haven Currencies, David Y. Aharon, Zaghum Umar, Xuan Vinh Vo

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This study examines the connectedness between the US yield curve components (i.e., level, slope, and curvature), exchange rates, and the historical volatility of the exchange rates of the main safe-haven fiat currencies (Canada, Switzerland, EURO, Japan, and the UK) and the leading cryptocurrency, the Bitcoin. Results of the static analysis show that the level and slope of the yield curve are net transmitters of shocks to both the exchange rate and its volatility. The exchange rate of the Euro and the volatility of the Euro and the Canadian dollar exchange rate are net transmitters of shocks. Meanwhile, the curvature of …

The Use Of Mobile Payment Systems In Post-Covid-19 Economic Recovery: Primary Research On An Emerging Market For Experience Goods, Maiya M. Suyunchaliyeva, Raghav Nautiyal, Aijaz A. Shaikh, Ravishankar Sharma

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This study investigated whether mobile payment services could drive post-COVID-19 pandemic recovery in the ‘experience goods’ sector (e.g., tourism) utilising Bandura’s self-efficacy or social cognitive theory. It explored the factors influencing the intention to continue using mobile payment services and the intention to recommend these to others. An empirical survey was conducted to assess the study variables, and the data obtained therefrom were analysed using the industry-standard Cross-Industry Standard Process for Data Mining method. The study results suggest that personal innovativeness and perceived trust influence consumers’ intention to continue using mobile payment services and that perceived trust, personal innovativeness and …

Entrepreneurial Leadership And Sustainable Development—A Systematic Literature Review, Alexandrina Maria Pauceanu, Nada Rabie, Ayman Moustafa, Daniel Constantin Jiroveanu

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The main aim of this study was to clarify the current literary inconsistencies regarding the characteristics of entrepreneurial leadership and its impact on sustainability. Additionally, another aim was to establish the framework of entrepreneurial leadership and to highlight the main gaps in the entrepreneurial leadership literature. The entrepreneurial leadership literature started to develop recently as a new leadership style that is required to fulfill the current business changes in the fourth industrial revolution. The researchers conducted a narrative literature review to assess the status of entrepreneurial leadership in academia, literature gaps, and the impact of entrepreneurial leadership on the sustainability …

Special Issue: “Contemporary Issues In Ensuring Excellence In Tourism, Travel And Hospitality” Guest Editorial, Giacomo Del Chiappa, Anestis K. Fotiadis

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No abstract provided.

De-Linking From Western Epistemologies: Using Guanxi-Type Relationships To Attract And Retain Hotel Guests In The Middle East, Ahmed Shaalan, Riyad Eid, Marwa Tourky

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Relationships are widely recognized as key to business success in the form of both informal interpersonal networks and formal organizational relationships. While Chinese personal networks (guanxi) have attracted scholars' interest, the concept has not been fully investigated or understood in other contexts, especially the Middle East, where personal networks fulfill some of the same roles. The underlying socio-cultural formulae of the distinctive cultural dimensions that influence relationship formation in the Middle East also remain under-explored. This research therefore investigates the dimensions of guanxi-type relationships in the Middle East and introduces a new model integrating these relationships into the existing relationship …

The Impact Of Covid-19-Related Media Coverage On The Return And Volatility Connectedness Of Cryptocurrencies And Fiat Currencies, Zaghum Umar, Francisco Jareño, María De La O González

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This research explores the impact of COVID-19-related media coverage on the dynamic return and volatility connectedness of the three dominant cryptocurrencies (Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP)) and the fiat currencies of the euro, GBP and Chinese yuan. The sample period covers the first and second devasting waves of the COVID-19 pandemic crisis and ranges from January 1, 2020, to December 31, 2020. The dynamic return and volatility connectedness measures are estimated using the time varying parameter-VAR approach. Our return connectedness analysis shows that the media coverage index (only before the first wave) and the cryptocurrencies are the net …

The Impact Of The Covid-19 Related Media Coverage Upon The Five Major Developing Markets, Zaghum Umar, Mariya Gubareva, Tatiana Sokolova

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This paper analyses the influence of the Covid-19 coverage by the social media upon the shape of the sovereign yield curves of the five major developing countries, namely Federative Republic of B razil, Russian Federation, Republic of India, People's Republic of China, and the Republic of South Africa (BRICS). The coherenc e between the level, slope, and the curvature of the sovereign yield term structures and the Covid-19 medi a coverage is found to vary between low and high ranges, depending on the phases of the pandemic. The empirical estimations of the yield-curve factors a re performed by means of …

Selection Of Islamic Banking In A Multicultural Context: The Role Of Gender And Religion, Suzanna Elmassah, Heba Abou-El-Sood

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Purpose

As the popularity of Islamic banking and financial instruments continues to rise globally, a recurring empirical question is what specifically makes consumers choose Islamic banking. This paper aims to investigate the determinants of bank type selection, especially in culturally diverse settings where the Islamic banking sector is well-established. It further examines whether consumers’ gender/religion influences their choices. One intuitive prediction is that Muslim consumers opt for Islamic banking products as “ethical” because of conviction-related reasons. However, the reality is not necessarily straightforward.

Design/methodology/approach

This paper uses structural equation modeling to examine data collected from a survey questionnaire of 790 …

Internal And External Auditors Responsibilities And Relationships With Audit Committees In Two English Public Sector Settings, Karim Hegazy, Anne Stafford

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This paper assesses the job of scrutiny and oversight in public services by examining the role of the internal auditor (IA) and external auditor (EA) and their relationship with the audit committee (AC) in two distinct English public sector environments. The research uses an exploratory qualitative case study approach based on semi-structured interviews, AC meeting observations, and documentation reviews. The study acts as a starting point to examine the effectiveness of governance arrangements during a period of change in the UK public sector. The research provides evidence of good triangulation between the work of the IA, EA, and AC. Nevertheless, …

Making The Right Stopover Destination Choice: The Effect Of Assessment Orientation On Attitudinal Stopover Destination Loyalty, Steven Pike, Filareti Kotsi, Frank Mathmann, Di Wang

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This study investigates the interaction effect between previous stopover visitation and assessment orientation on destination loyalty. Using a quasi-experiment, benefiting from a sample of 200 travelers with a self-reported stopover experience in Dubai, it is found that travelers high in assessment orientation are more loyal to the destination. The effect of previous visitation on destination loyalty is enhanced for high assessors. This research is the first to apply regulatory mode theory to the stopover destination context in the destination marketing literature. From a practical perspective, destination marketers should segment potential visitors using assessment orientation and target on high assessors who …

Stopover Destination Loyalty: The Influence Of Perceived Ambience And Sensation Seeking Tendency, Di Wang, Filareti Kotsi, Steven Pike, Jun Yao

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This paper examines the influence of sensation seeking and perceived ambience on attitudinal loyalty towards two traditional stopover destinations (Singapore, Hong Kong) and two emerging stopover destinations (Dubai, Abu Dhabi). A quasi-experimental design with two separate samples of participants shows that travelers’ perceived positive ambience and attitudinal destination loyalty was higher for the traditional stopover destinations than for the emerging destinations. In addition, sensation seeking tendency moderates the effect such that travelers with lower sensation seeking tendencies have higher attitudinal loyalty towards the traditional stopover destinations while the effect is mitigated for those with higher sensation seeking tendencies. This paper …

Comovements Between Heavily Shorted Stocks During A Market Squeeze: Lessons From The Gamestop Trading Frenzy, Zaghum Umar, Imran Yousaf, Adam Zaremba

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We examine the comovements between stock prices of different heavily shorted companies during a short-squeeze incident. Using the recent GameStop trading frenzy as a case study, we employ wavelet coherence analyses to determine its link with other frequently shorted stocks. We demonstrate a robust positive association between GameStop prices and the performance of high short interest indices. The bubble behavior driven by retail investor herding transmits between different stocks, even from unrelated sectors. Consequently, a single short-squeeze incident may build up into a potentially broader systemic risk, casting doubt on market integrity and stability.

Foreign Direct Investment In Gcc Countries: The Essential Influence Of Governance And The Adoption Of Ifrs, Costas Siriopoulos, Athanasios Tsagkanos, Argyro Svingou, Evangelos Daskalopoulos

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This paper presents an analysis of the factors affecting foreign direct investments, focusing on governance quality and adoption of International Financial Reporting Standards on countries of the Gulf Cooperation Council, which are a special case of study due to their idiosyncratic characteristics, rich natural resources and geographical position. Panel data analysis was conducted, implementing three different models (Fixed Effect, Random Effect, and Arellano Bond Dynamic Model). The results show that the adoption of International Financial Reporting Standards is a strong determinant that promotes foreign direct investments. As regards the governance quality, the block of Gulf Cooperation Council countries has fulfilled …

Local Content Implementation And Development In Ghana’S Upstream Oil And Gas Sector For Sustainable Development: Contemporary Issues On Policy Management, Shafic Suleman, Joshua Jebuntie Zaato

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The need to develop and boost the potentials of Ghana’s upstream oil and gas activities has been advocated by policymakers, academics, and financial institutions since the discovery of oil and gas in commercial quantities. It has been argued that if well implemented, upstream activities have a trickledown effect on the local content policy linkages that apart from taxes, can lead to improved financial and social benefits. In this study, how Ghana can use local content policy in upstream oil and gas operations to maximum economic and social benefits for the good of the Ghana government, citizens, and the Multinational Oil …

Framing The Role Of Higher Education In Sustainable Development: A Case Study Analysis, Suzanna Elmassah, Marwa Biltagy, Doaa Gamal

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Purpose

Higher education institutions (HEIs) should play a fundamental role in achieving the international 2030 sustainable development (SD) agenda. Quality education is the fourth of the sustainable development goals (SDGs), and one of the targets related to this is to ensure that by 2030 all learners acquire the knowledge and skills needed to promote SD. Therefore, the SDGs provide a motive for HEIs to integrate SD concepts into their day-to-day practices. This study aims to introduce a framework for HEIs’ sustainable development assessment. Such a framework guides HEIs and educational leaders to support their countries’ commitments to achieving the SDGs. …

Lessons For Euro Markets From The First Wave Of Covid-19, Costas Siriopoulos, Argyro Svingou, Jagadish Dandu

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Although the coronavirus pandemic hit Europe in the early days of 2020, European stock markets had signaled fluctuations in the days before. This paper assesses the observed volatility on European stock exchanges and searches for its sources during the first four months of 2020. To investigate the issue, a panel VAR model is adopted, and the generalized impulse response function and the variance decomposition methods are used. The estimations show that about 34% of the volatility in European stock markets is due to the Chinese stock market, while 7% is due to international uncertainty, as measured by VIX. The impact …

Financial Markets Are Not Efficient: Financial Literacy As An Effective Risk Management Tool, Costas Siriopoulos

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This paper advances the view that the deep confidence of market regulators in the assumptions and premises of the Efficient Market Hypothesis (EMH) has led to the underestimation of market risks, thus inactivating the market education of existing and future investors. Hence, they have not responded to financial illiteracy, which exacerbated the recent financial crisis. Investor education may be considered as a systemic risk management tool for future financial crises and, especially, financial literacy can drive a wedge between the regulation and the prevention of severe financial crises based on expected benefits versus losses. This also will help to regain …

Stopover Destination Attractiveness: A Quasi-Experimental Approach, Steven Pike, Nicolas Pontes, Filareti Kotsi

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© 2020 Elsevier Ltd This study contributes to the emerging field of stopover destination attractiveness. There has been a paucity of published research around the phenomenon of stopovers, including stopover destination image, during long-haul international air travel. This is surprising given long-haul commercial flights date back to the 1930s, and that destination image has been the most popular topic in the tourism marketing literature since the 1970s. A quasi-experimental research design with samples of consumers in the UK and Australia was used to test aspects of a proposed model of stopover destination attractiveness. The results highlight the influence of perceived …

Return And Volatility Transmission Between Oil Price Shocks And Agricultural Commodities, Zaghum Umar, Mariya Gubareva, Muhammad Naeem, Ayesha Akhter

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© 2021 Umar et al. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. This paper studies the connectedness between oil price shocks and agricultural commodities. Our sample period ranges from January 2002 to July 2020, covering the three global crises; Global Financial Crisis, the European sovereign debt crisis and Covid-19 pandemic crisis. We employ Granger causality tests, and the static and dynamic connectedness spillover index methodology. We find that the shocks in oil prices …

The Effect Of Green Human Resource Management On Environmental Performance: The Mediating Role Of Employee Eco-Friendly Behavior, Atif Ali Gill, Balqees Ahmad, Shiza Kazmi

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The current study examines the change in environment performance through green human resource management in a developing country’s higher education institutes. The data were collected by survey using a reliable and valid instrument adopted from the literature. The unit of analysis in the current study is an individual consisting of employees working in higher educational institutions of Pakistan. Three hundred questionnaires were distributed while 220 questionnaires were found completely filled for statistical analysis. The current study utilizes the multiple regression techniques through structural equation modelling using second-generation software SmartPLSv3.0. The results indicate the positive influence of green human resource policies …

Process Mining Analytics For Industry 4.0 With Graph Signal Processing, Georgios Drakopoulos, Eleanna Kafeza, Phivos Mylonas, Spyros Sioutas

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Process mining is the art and science of (semi)automatically generating business processes from a large number of logs coming from potentially heterogeneous systems. With the recent advent of Industry 4.0 analog enterprise environments such as floor shops and long supply chains are bound to full digitization. In this context interest in process mining has been invigorated. Multilayer graphs constitute a broad class of combinatorial objects for representing, among others, business processes in a natural and intuitive way. Specifically the concepts of state and transition, central to the majority of existing approaches, are inherent in these graphs and coupled with both …

Economics Of Capital Adjustment In The Us Commercial Banks: Empirical Analysis, Faisal Abbas, Shoaib Ali, Ghulame Rubbaniy

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Using GMM framework on the data of the US commercial banks spanning over 2002 to 2018, this study shows that banks adjust their regulatory capital ratios faster than traditional capital ratios. Our results show that the speed of adjustment of regulatory capital ratios and traditional capital ratios increases in bank capital adequacy and bank liquidity, respectively. We also find that the speed of adjustment of regulatory capital ratios of too-big-to-fail banks is lower than well-capitalized, adequately-capitalized, nationally-chartered, and state-chartered banks. In addition, the speed of adjustment of regulatory capital ratios of commercial banks is higher in the post-crisis period than …

Managerial Entrenchment And Payout Policy: A Catering Effect, Daniel Gyimah, Ernest Gyapong

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© 2020 Elsevier Inc. Agency theory suggests that entrenched managers are less likely to pay dividends. However, according to the catering theory, external pressures from investors can force managers to increase dividend payments. Hence, we test whether entrenched managers respond to investor demand for dividends and share repurchases. Using a large sample of 9677 US firms over the period 1990–2016 (i.e. a total of 80,478 firm-year observations), we test and find evidence that managerial entrenchment negatively impacts dividend payments. Our findings suggest that catering effects weaken the negative impact of managerial entrenchment on payout policy and that in firms with …

Are Happier Nations More Responsible? Examining The Link Between Happiness And Sustainability, Yomna M. Sameer, Suzanna Elmassah, Charilaos Mertzanis, Lujain El-Maghraby

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The paper uses aggregate data from 152 countries to analyze the association between happiness and sustainability. Our paper provides new evidence on happiness and sustainability. Taking a psychological approach, happiness is linked to hedonism and reflects individual perceptions of quality of life and life satisfaction. Sustainability reflects the extent of meeting the UN Sustainable Development Goals which includes responsible consumption. In order to elucidate the link, the analysis examines separately the association between happiness, consumption, sustainability and responsible behavior. The results document a positive and significant association between them, which remains broadly robust subject to various controls, sensitivity and endogeneity …

International Financial Reporting Standards, Domestic Debt Finance And Institutional Quality: Evidence From Developing Countries, Vincent Tawiah, Ernest Gyapong

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We have examined the relationship between international financial reporting standards (IFRS and IFRS for SMEs) and domestic credit to the private sector by banks. Using data on 107 developing countries from 2000 to 2017, we found that the use of IFRS and IFRS for SMEs is positively associated with an increase in domestic credit to the private sector in developing countries. Our analysis on the individual global standards shows that the relationship is much stronger for the use of full IFRS than IFRS for SMEs. We found that the effect of both international standards on domestic credit is more profound …

The Dark Side Of Social Media Engagement: An Analysis Of User-Generated Content In Online Wildlife Trade Communities, Kim Feddema, Paul Harrigan, Shasha Wang

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There is a growing academic interest on the dark side of engagement on social media and the role of user-generated content (UGC). The illicit trade of wildlife online is a major contributor to global species loss and, thus, strategies to reduce demand for wild species and consumer engagement in the market and are of paramount importance. We first conduct qualitative analyses on a large data set of UGC (n=14,729 words from 1060 comments from 12 Facebook groups) from a biodiversity hotspot, The Republic of Indonesia. We use automatic machine-learning lexical software to explore the discourse that occurs in comments of …

How Trust Leads To Online Purchase Intention Founded In Perceived Usefulness And Peer Communication, Maggie Harrigan, Kim Feddema, Shasha Wang, Paul Harrigan, Emmanuelle Diot

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© 2021 John Wiley & Sons Ltd. This study seeks to understand the specific factors on social media that help drive the intention to purchase fashion-related products, focusing on the central role of trust. The unique contribution of this research lies in its exploration of the interplay between perceived usefulness of the fashion brand's social media and peer communication on the fashion brand's social media in driving trust in the fashion brand's social media and, ultimately, purchase intention. Theoretically, we combine the technology acceptance model and consumer socialisation theory to explore the mediating role of trust in a rapidly expanding …

The 3 A'S Of Stopover Destination Attractiveness: Access, Ambience, And Attractions, Steven Pike, Filareti Kotsi

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© 2020 University of Zagreb Faculty of Economics and Business. All rights reserved. There has been relatively little research investigating the phenomenon of stopovers during long haul air travel. The aim of this exploratory study was to identify determinants of stopover destination attractiveness. Quantitative data was collected from consumers in two countries in the northern hemisphere and two in the southern hemisphere. The survey instrument was informed by previously published qualitative research involving personal interviews in the four countries, to identify salient attributes of stopover destinations. Data from the 2000 participants in the current study identified three dimensions of destination …