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Full-Text Articles in Business

Covid-19 And Stock Market Liquidity: International Evidence, Muhammad Umar, Ghulame Rubbaniy, Amjad Iqbal, Syed Kumail Abbas Rizvi, Yan Xu Nov 2022

Covid-19 And Stock Market Liquidity: International Evidence, Muhammad Umar, Ghulame Rubbaniy, Amjad Iqbal, Syed Kumail Abbas Rizvi, Yan Xu

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This study analyzes the impact of Covid-19 on stock market liquidity of China and four worst hit countries by the pandemic. Using daily data for the stock market illiquidity spanning over July 1, 2019 to July 10, 2020 and the data for new cases and deaths over the period from December 31, 2019 to July 10, 2020, the results of our GARCH analysis show that liquidity in stock markets of all the sampled countries hit hard by the news of the Covid-19 outbreak. We find that for all sampled countries increase in illiquidity due to temporary shocks reverts to long …


Did David Win A Battle Or The War Against Goliath? Dynamic Return And Volatility Connectedness Between The Gamestop Stock And The High Short Interest Indices, David Y. Aharon, Renatas Kizys, Zaghum Umar, Adam Zaremba Nov 2022

Did David Win A Battle Or The War Against Goliath? Dynamic Return And Volatility Connectedness Between The Gamestop Stock And The High Short Interest Indices, David Y. Aharon, Renatas Kizys, Zaghum Umar, Adam Zaremba

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Can a short-squeeze incident trigger financial contagion over heavily shorted companies? The recent GameStop frenzy provides a unique natural experiment to explore this question. This study examines the static and dynamic return and volatility connectedness among the GameStop stock, the novel market-wide and sectoral short-interest indices, and the U.S. stock market. Contrary to anecdotal evidence, we find that the GameStop stock is not a net transmitter but a net recipient of return and volatility spillovers from other companies shorted in the market. This result agrees with the view that short-interest indices provide price discovery for shorted stocks. Therefore, although David …


Can The Resource Curse For Well-Being Be Morphed Into A Blessing? Investigating The Moderating Role Of Environmental Quality, Governance, And Human Capital, Suzanna Elmassah, Eslam A. Hassanein Nov 2022

Can The Resource Curse For Well-Being Be Morphed Into A Blessing? Investigating The Moderating Role Of Environmental Quality, Governance, And Human Capital, Suzanna Elmassah, Eslam A. Hassanein

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One of the most pressing global concerns is ensuring high levels of human well-being without overburdening natural resources. The impact of natural resource abundance on the economy’s monetary dimensions has long been controversial, with researchers debating whether it is a blessing or a curse. Recently, focus has shifted to its impact on non-monetary attributes (i.e., human well-being), with conflicting empirical evidence with respect to existence of the resource curse. However, studies on the indirect impact of natural resources on well-being are rare. This inquiry extends previous research by investigating the effect of natural resource abundance on human well-being and the …


Enhancing Employees’ Duty Orientation And Moral Potency: Dual Mechanisms Linking Ethical Psychological Climate To Ethically‐Focused Proactive Behaviors, Kubilay Gok, Mayowa T. Babalola, John J. Sumanth, C. Lakshman, Linh Chi Vo, Stijn Decoster, Anjali Bansal, Ahmet Coşkun Oct 2022

Enhancing Employees’ Duty Orientation And Moral Potency: Dual Mechanisms Linking Ethical Psychological Climate To Ethically‐Focused Proactive Behaviors, Kubilay Gok, Mayowa T. Babalola, John J. Sumanth, C. Lakshman, Linh Chi Vo, Stijn Decoster, Anjali Bansal, Ahmet Coşkun

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Based on social cognitive theory (SCT), we develop and test a model that links ethical psychological climate to ethically‐focused proactive behavior (i.e., ethical voice and ethical taking charge) via two distinct mechanisms (i.e., duty orientation and moral potency). Results from multi‐wave field studies conducted in the United States, Turkey, France, Vietnam, and India demonstrate that an ethical psychological climate indirectly influences employees’ ethical voice and ethical taking charge behaviors through the dual mechanisms of duty orientation and moral potency. Additionally, we find that individuals’ moral attentiveness strengthened these mediating processes. Together, these findings suggest that ethical psychological climate is an …


Special Issue Section Tourman 2021-"Restarting Tourism, Travel And Hospitality: The Day After", Anestis Fotiadis Oct 2022

Special Issue Section Tourman 2021-"Restarting Tourism, Travel And Hospitality: The Day After", Anestis Fotiadis

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This guest editorial presents the papers in the Special Issue Section of the European Journal of Tourism Research from the 4th International Scientific Conference "TOURMAN 2021" (www.tourman.gr), 21-23.05.2021, entitled "Restarting tourism, travel and hospitality: The day after".


Do Local And World Covid-19 Media Coverage Drive Stock Markets? Time-Frequency Analysis Of Brics, Ahmed Bossman, Tamara Teplova, Zaghum Umar Sep 2022

Do Local And World Covid-19 Media Coverage Drive Stock Markets? Time-Frequency Analysis Of Brics, Ahmed Bossman, Tamara Teplova, Zaghum Umar

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The role of media coverage as a proxy for investor sentiments has led to the assessments of the impact of COVID-19 media coverage on financial markets. To determine how both local and global media coverage affect financial markets differently, we investigate this issue from the perspective of top emerging markets, BRICS (i.e., Brazil, Russia, India, China, and South Africa). With datasets covering January 2020 to March 2022, we employ the wavelet coherence technique on two major subsamples, viz. initial outbreak year sample and the “new normal” era sample. Our findings demonstrate the leading role of BRICS equities in the initial …


Green Intellectual Capital And Green Supply Chain Performance: Does Big Data Analytics Capabilities Matter?, Ayman Wael Al-Khatib, Ahmed Shuhaiber Aug 2022

Green Intellectual Capital And Green Supply Chain Performance: Does Big Data Analytics Capabilities Matter?, Ayman Wael Al-Khatib, Ahmed Shuhaiber

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In light of global environmental concerns growing, environmental awareness within firms has become more important than before, and many scholars and researchers have argued the importance of environmental management in promoting sustainable organizational performance, especially in the context of supply chains. Thus, the current study aimed at identifying the impact of the components of green intellectual capital (green human capital, green structural capital, green relational capital) on green supply chain performance in the manufacturing sector in Jordan, as well as identifying the moderating role of big data analytics capabilities. To achieve this aim, we developed a conceptual model of Structural …


Ethnic Entrepreneurial Success Factors: Evidence From The United Arab Emirates, Suzanna Elmassah, Reynold James, Shereen Bacheer Jun 2022

Ethnic Entrepreneurial Success Factors: Evidence From The United Arab Emirates, Suzanna Elmassah, Reynold James, Shereen Bacheer

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This paper examines how personal, business, and environmental factors influence ethnic entrepreneurial success in the UAE, against the backdrop of the nation's concerted efforts to promote entrepreneurship and foreign investments in SMEs, as the means to attaining its goals of sustainable, long term economic diversification, expansion, and enhanced performance. The study adopts a mixed methods approach to investigate the key determinants of ethnic entrepreneurial success by utilizing primary quantitative data collected via a survey of 103 entrepreneurs. In addition, qualitative data is obtained from in-depth interviews of ten expatriate entrepreneurs. Whereas the quantitative results evidenced a significant impact of one …


Implementing Artificial Intelligence In Forecasting The Risk Of Personal Bankruptcies In Poland And Taiwan, Tomasz Korol, Anestis K. Fotiadis Jun 2022

Implementing Artificial Intelligence In Forecasting The Risk Of Personal Bankruptcies In Poland And Taiwan, Tomasz Korol, Anestis K. Fotiadis

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Research background: The global financial crisis from 2007 to 2012, the COVID-19 pandemic, and the current war in Ukraine have dramatically increased the risk of consumer bankruptcies worldwide. All three crises negatively impact the financial situation of households due to increased interest rates, inflation rates, volatile exchange rates, and other significant macroeconomic factors. Financial difficulties may arise when the private person is unable to maintain a habitual standard of living. This means that anyone can become financially vulnerable regardless of wealth or education level. Therefore, forecasting consumer bankruptcy risk has received increasing scientific and public attention. Purpose of the article: …


The Asymmetric Relationship Between Foreign Direct Investment, Oil Prices And Carbon Emissions: Evidence From Gulf Cooperative Council Economies, Sania Ashraf, Jithin P, Zaghum Umar May 2022

The Asymmetric Relationship Between Foreign Direct Investment, Oil Prices And Carbon Emissions: Evidence From Gulf Cooperative Council Economies, Sania Ashraf, Jithin P, Zaghum Umar

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We investigate the asymmetric nonlinear link between foreign direct investment, oil prices, and CO2 emissions for the Gulf Cooperation Council nations, using foreign direct investment and oil price data. As foreign direct investment is positively associated with carbon emissions in the long run and oil prices have positive, significant effects on CO2 emissions, our findings support the pollution-haven hypothesis. Furthermore, these variables have an asymmetric nonlinear relationship, which corresponds to the theoretical expectations of the pollution-haven hypothesis. We also find that negative changes in foreign direct investment have positive, significant impacts on carbon emissions in the short run, implying that …


When Ceo And Board Chair Are In Conflict: A Resource Dependence Perspective, Rawia Ahmed, Randika Eramudugoda, M. Fernanda Wagstaff May 2022

When Ceo And Board Chair Are In Conflict: A Resource Dependence Perspective, Rawia Ahmed, Randika Eramudugoda, M. Fernanda Wagstaff

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The board of directors serves two functions in the organization: monitoring and resource provision. Agency theory mainly addresses the former, while resource dependence theory focuses on the latter. However, these theories consistently assume that board members are not only able but also consistently willing to fulfill their roles. From a resource dependence perspective, this means that board members are generally inclined to share their resources (information, social and political connections, and functional experience) with the CEO. We challenge this assumption by postulating that in the context of dyadic conflict between the CEO and board chair, these resources will not be …


An Application Of Portfolio Mean-Variance And Semi-Variance Optimization Techniques: A Case Of Fiji, Ronald Ravinesh Kumar, Peter Josef Stauvermann, Aristeidis Samitas May 2022

An Application Of Portfolio Mean-Variance And Semi-Variance Optimization Techniques: A Case Of Fiji, Ronald Ravinesh Kumar, Peter Josef Stauvermann, Aristeidis Samitas

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In this paper, we apply the Markowitz portfolio optimization technique based on mean-variance and semi-variance as measures of risk on stocks listed on the South Pacific Stock Exchange, Fiji. We document key market characteristics and consider monthly returns data from SEP-2019 to FEB-2022 (T = 30) of 17/19 listed companies on the stock exchange to construct various portfolios like 1/N (naïve), maximum return, and market and minimum-variance with and without short-selling constraints. Additionally, we compute each stock’s beta using the market capitalization-weighted stock price index data. We note that well-diversified portfolios (market portfolio and minimum-variance portfolio) with short-selling constraints have …


The Effects Of Carbon Emissions And Agency Costs On Firm Performance, Muhammad Nurul Houqe, Solomon Opare, Muhammad Kaleem Zahir-Ul-Hassan, Kamran Ahmed Mar 2022

The Effects Of Carbon Emissions And Agency Costs On Firm Performance, Muhammad Nurul Houqe, Solomon Opare, Muhammad Kaleem Zahir-Ul-Hassan, Kamran Ahmed

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Carbon emissions and agency costs can have an impact on firms' financial performance. However, limited attention has been paid to the combined and gradual effects of these two factors on firms' performance. We explore the separate and combined effects of carbon emissions and agency costs on firms' financial performance by utilizing data from 2323 US firms that disclosed their environmental information to CDP from 2007 to 2016. The results indicate that firms with higher carbon emissions experience lower performance as the market reacts negatively. Further, firms with both higher carbon emissions and higher agency costs have lower performance. We also …


Current Trends In Blockchain Implementations On The Paradigm Of Public Key Infrastructure: A Survey, Daniel Maldonado-Ruiz, Jenny Torres, Nour El Madhoun, Mohamad Badra Jan 2022

Current Trends In Blockchain Implementations On The Paradigm Of Public Key Infrastructure: A Survey, Daniel Maldonado-Ruiz, Jenny Torres, Nour El Madhoun, Mohamad Badra

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Since the emergence of the Bitcoin cryptocurrency, the blockchain technology has become the new Internet tool with which researchers claim to be able to solve any existing online problem. From immutable log ledger applications to authorisation systems applications, the current technological consensus implies that most of Internet problems could be effectively solved by deploying some form of blockchain environment. Regardless this ‘consensus’, there are decentralised Internet-based applications on which blockchain technology can actually solve several problems and improve the functionality of these applications. The development of these new blockchain-based solutions is grouped into a new paradigm called Blockchain 3.0 and …


The Impacts Of The Ceo’S Network Effect On Digitalization And Agile Leadership In China, Xihui Chen, Victor Chang, Patricia Baudier, Kienpin Tee Jan 2022

The Impacts Of The Ceo’S Network Effect On Digitalization And Agile Leadership In China, Xihui Chen, Victor Chang, Patricia Baudier, Kienpin Tee

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Digitalization as a business enabler has speeded and scaled innovation in many firms. As the corporate leader, the CEO is there to set the stage for a learning process that facilitates strategic agility and enhances network effects to create value. This study uses innovation efficiency as the proxy of digitalization to examine the contribution of the CEO networks to firm-level innovation efficiency in Chinese listed firms. We apply a frontier analysis approach (e.g., DEA and SFA) and measure innovation efficiency based on the scale ratio of innovation output (i.e., patent counts) and input (R&D investment and R&D personnel). First, we …


Moderating Effect Of Carbon Accounting Systems On Strategy And Carbon Performance: A Cdp Analysis, Binh Bui, Muhammad Nurul Houqe, Muhammad Kaleem Zahir-Ul-Hassan Jan 2022

Moderating Effect Of Carbon Accounting Systems On Strategy And Carbon Performance: A Cdp Analysis, Binh Bui, Muhammad Nurul Houqe, Muhammad Kaleem Zahir-Ul-Hassan

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Carbon emissions bring significant risks and opportunities, and organisations have responded by adopting different strategies and environmental control systems, such as carbon accounting systems (CASs). However, it remains unclear whether a CAS can help reduce emissions, and what role is played by a CAS in the relationship between carbon strategy and carbon performance. Therefore, this paper analyses the strategy-accounting-performance nexus by drawing on 1672 firm-year observations of firms participating in the CDP in 2014 and 2015. The results suggest that the quality of a CAS is influenced by strategic choices; with a proactive carbon strategy being associated with a higher …


Marketing Of Luxurious Gastronomic Experiences On Social Media: The Visual Storytelling Of Luxury Hotels, Noela Michael, Francesc Fusté-Forné Jan 2022

Marketing Of Luxurious Gastronomic Experiences On Social Media: The Visual Storytelling Of Luxury Hotels, Noela Michael, Francesc Fusté-Forné

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The role of luxury as a source of tourism experiences is gathering growing attention, with special attention to the foundations of the relationships between gastronomy and social media marketing. Drawing from a visual methodology, this study analyses how luxury hotels (Burj Al Arab, Emirates Palace, St. Regis Saadiyat Island, and Atlantis) in the UAE promote gastronomy by identifying visual features of social media posts (N = 1866) to manage their image of luxury. Results show that the most relevant drivers of luxury gastronomy are the discovery of cultures, experiences in the hotel environment, novelty and hedonism, and promotion of a …


To Blow Or Not To Blow The Whistle? An Islamic Framework, Dina El-Bassiouny, Amr Kotb, Hany Elbardan, Noha El-Bassiouny Jan 2022

To Blow Or Not To Blow The Whistle? An Islamic Framework, Dina El-Bassiouny, Amr Kotb, Hany Elbardan, Noha El-Bassiouny

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In this paper, we draw upon Islamic teachings to address two questions. How do Islamic ethics deepen and advance our understanding of the whistleblowing act? To what extent are Islamic ethics of whistleblowing promoted in practice? First, we have undertaken a thematic content analysis of the holy book of Qur’an, supported by the Sunnah (Prophetic Traditions). This has yielded a novel Islamic ethics-based framework of whistleblowing comprising the five aspects of the whistleblowing process: What should one blow the whistle about? Who should blow the whistle? Why should one blow the whistle? How should one blow the whistle? And to …


On The Use Of Allen’S Interval Algebra In The Coordination Of Resource Consumption By Transactional Business Processes, Zakaria Maamar, Fadwa Yahya, Lassaad Ben Ammar Jan 2022

On The Use Of Allen’S Interval Algebra In The Coordination Of Resource Consumption By Transactional Business Processes, Zakaria Maamar, Fadwa Yahya, Lassaad Ben Ammar

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This paper presents an approach to coordinate the consumption of resources by transactional business processes. Resources are associated with consumption properties known as unlimited, limited, limited-but-extensible, shareable, and non-shareable restricting their availabilities at consumption-time. And, processes are associated with transactional properties known as pivot, retriable, and compensatable restricting their execution outcomes in term of either success or failure. To consider the intrinsic characteristics of both consumption properties and transactional properties when coordinating resource consumption by processes, the approach adopts Allen’s interval algebra through different time-interval relations like before, overlaps, and during to set up the coordination, which should lead to …