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The impact of COVID-19 pandemic on financial performance: Comparison between Egyptian SMEs Tamayoz and EGX30 index COVID-19 大流行对财务业绩的影响:埃及中小企业 Tamayoz 指数与 EGX30 指数的比较
IF 1 Q4 MANAGEMENT Pub Date : 2023-12-06 DOI: 10.21315/aamj2023.28.2.13
Sherif Ismail, El-Halaby, H. A. Soliman, Hussien Mohsen
Most SMEs experience economic collapse and even insolvency due to a lack of sufficient governmental support, particularly those working in growing nations like Egypt with a heavy focus on SMEs’ growth and political and economic instability. As a result, this paper seeks first to measure the consequences of COVID-19 on financial performance (FP) by comparing small and medium enterprises (SMEs) with listed corporations in the Egyptian Stock Exchange (EGX). Second, we examine the impact of governmental interventions on this association. Our sample includes 26 SMEs in the Tamayoz EGX and the highest 30 firms listed in the EGX30. We applied pooled ordinary least square regression, paired sample test, and Barron and Kenny’s test. We used daily stock market returns from January 2020 to November 2020. The proliferation of COVID-19 has an influence on stock prices in both the EGX30 and Tamayoz stock indexes. We furthermore find a partial mediation of income support, facial-covering, school closures, and restrictions on international movements on the linkage between COVID-19 and FP for SMEs. The stock prices listed in EGX30 seem more sensitive to governmental interventions than Tamayoz EGX. The findings confirm governmental interventions would have a significant role in the firm’s FP during the COVID-19 pandemic.
由于缺乏足够的政府支持,大多数中小型企业都经历过经济崩溃甚至破产,尤其是那些在埃及这样重视中小型企业发展、政治经济不稳定的成长型国家工作的中小型企业。因此,本文首先通过比较中小型企业(SMEs)与埃及证券交易所(EGX)的上市企业,衡量 COVID-19 对财务绩效(FP)的影响。其次,我们研究了政府干预对这种关联的影响。我们的样本包括 Tamayoz EGX 中的 26 家中小企业和 EGX30 中最高的 30 家上市公司。我们采用了集合普通最小二乘法回归、配对样本检验以及巴伦和肯尼检验。我们使用了 2020 年 1 月至 2020 年 11 月的每日股市回报。COVID-19 的扩散对 EGX30 和 Tamayoz 股指中的股票价格都有影响。此外,我们还发现收入支持、面部覆盖、学校关闭和国际流动限制对 COVID-19 与中小型企业 FP 之间的联系具有部分中介作用。与 Tamayoz EGX 相比,在 EGX30 上市的股票价格似乎对政府干预更为敏感。研究结果证实,在 COVID-19 大流行期间,政府干预将对企业的 FP 起到重要作用。
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引用次数: 0
Role of committees in bank valuation: Evidence from an emerging market 委员会在银行估值中的作用:新兴市场的证据
IF 1 Q4 MANAGEMENT Pub Date : 2023-12-06 DOI: 10.21315/aamj2023.28.2.6
N. Tripathi, N. Ahamed, Richa Gupta
The purpose of this study is to examine the effect of corporate governance mechanisms on bank performance in general and the effect of board-constituted committees on bank performance in particular. Primarily, two questions are addressed in the context of the banking sector of India. First, does corporate governance mechanisms reduce the quantum of non-performing assets (NPAs)? Second, does the internal committee affect bank performance? Hence, this paper determines whether independent directors strengthen corporate boards and whether committees affect bank performance. The panel data ordinary least square regression analysis is used for this study. We also use logistic regression models for various committees to find their relationship with bank performance and NPAs. Tobin’s Q is used as proxy for bank performance. Independent variables are board size (BSIZE), proportion of independent directors on the board (PERIND), number of board meetings per year (BMEET), size of the audit committee (AUC), and two measures of the bank business (asset size and loan), and one control variable is time. We use financial and corporate governance data from 2005 to 2018, the study finds that independent directors play a major role on the board. It finds a positive and significant relationship between board independence and bank performance. The performance also increases with the increase in board size but after a point, the curve declines forming and an inverted U-shaped curve is formed. The mandatory internal committees have a crucial role to play, which is demonstrated by their effect on the reduction of NPAs. The significance of a well-functioning board and internal committees in discharging their fiduciary duties is highlighted in this study. An internal committee comprising a majority of independent directors is found to positively affect the performance of banks. They can help managers disburse good-quality loans and keep a check on risk-laden ventures. 
本研究旨在探讨公司治理机制对银行绩效的总体影响,特别是董事会下设委员会对银行绩效的影响。研究主要针对印度银行业的两个问题。第一,公司治理机制是否会减少不良资产(NPAs)的数量?第二,内部委员会是否会影响银行业绩?因此,本文确定独立董事是否会加强公司董事会,以及委员会是否会影响银行业绩。本研究采用面板数据普通最小二乘法回归分析。我们还对各种委员会使用了逻辑回归模型,以找出它们与银行绩效和净资产收益率之间的关系。托宾 Q 值被用作银行绩效的替代指标。自变量包括董事会规模(BSIZE)、董事会中独立董事的比例(PERIND)、每年董事会会议的次数(BMEET)、审计委员会的规模(AUC)以及银行业务的两个衡量指标(资产规模和贷款),还有一个控制变量是时间。我们使用 2005 年至 2018 年的财务和公司治理数据,研究发现独立董事在董事会中发挥着重要作用。研究发现,董事会独立性与银行绩效之间存在显著的正相关关系。绩效也随着董事会规模的增加而增加,但在一个点之后,曲线下降,形成倒 U 型曲线。强制性内部委员会发挥着至关重要的作用,其对降低净资产收益率的影响就证明了这一点。本研究强调了运作良好的董事会和内部委员会在履行受托责任方面的重要性。研究发现,由大多数独立董事组成的内部委员会会对银行业绩产生积极影响。他们可以帮助管理者发放优质贷款,并对风险投资进行控制。
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引用次数: 0
Exploring the influence of social and structural support on entrepreneurial intentions among South Asian Canadian immigrants 探索社会和结构性支持对加拿大南亚移民创业意向的影响
IF 1 Q4 MANAGEMENT Pub Date : 2023-12-06 DOI: 10.21315/aamj2023.28.2.7
Nadeem Akhtar, Syed Mohammad Azeem, Abdullah Basiouni, Ghulam Mustafa Mir
The focus of this paper is on the perspectives people hold towards starting their businesses. An investigation was conducted on recent immigrants to Canada, the majority of whom were from South Asian nations. Subsequently, the SmartPLS 3.2.8 analysis tool was used to examine the collected data. According to the findings of the analysis, the perception of having structural support is a poor predictor of entrepreneurial intentions. Conversely, individual characteristics, such as self-efficacy and self-control, are significant predictors of entrepreneurial intentions. The results call into question immigration policies and regulations that select immigrants based on their potential for financial success rather than the businesses they intend to start themselves. The research suggests that if immigrants with high self-efficacy were provided support from their immigrant communities, they could more easily launch new businesses. This information can serve as a guide for immigration policymakers. 
本文的重点是人们对创业的看法。调查对象是最近移民到加拿大的新移民,其中大部分来自南亚国家。随后,使用 SmartPLS 3.2.8 分析工具对收集到的数据进行了分析。分析结果表明,对获得结构性支持的感知对创业意向的预测效果不佳。相反,自我效能感和自我控制等个人特征对创业意向有显著的预测作用。研究结果对移民政策和法规提出了质疑,因为这些政策和法规是根据移民在经济上取得成功的潜力而不是他们打算自己创办的企业来选择移民的。研究表明,如果移民社区能为自我效能感高的移民提供支持,他们就能更容易地创办新企业。这些信息可作为移民政策制定者的指南。
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引用次数: 0
The influence of environmental factors on ecological beliefs and ecological behaviour of energy-efficient appliance purchase 环境因素对购买节能家电的生态信念和生态行为的影响
IF 1 Q4 MANAGEMENT Pub Date : 2023-12-06 DOI: 10.21315/aamj2023.28.2.4
Sai-Keong Chan¹, Farzana Quoquab², Rohaida Basiruddin²
Previous ecological behaviour studies have focused on personal factors only, and thus ignored the impact of environmental factors on ecological behaviour. In addition, there are criticism on the complexity of belief component in the value-belief-norm theory. Hence, this study aims to investigate the effect of environmental factors and to assess the mediating role of ecological beliefs on energy-efficient appliance purchasing. This study utilised a questionnaire survey among 592 Malaysian consumers. The partial least squares technique was utilised to analyse the data and to test the study hypotheses. The findings show that environmental factors have a positive influence on both ecological beliefs and ecological behaviour; ecological beliefs are positively related to ecological behaviour. Additionally, ecological beliefs mediate the relationship between environmental factors and ecological behaviour. This holistic research framework helps to elaborate on the existing knowledge of environmental factors and an individual’s belief, in the context of energy-efficient appliance purchase. 
以往的生态行为研究只关注个人因素,从而忽视了环境因素对生态行为的影响。此外,价值-信念-规范理论中信念部分的复杂性也受到批评。因此,本研究旨在调查环境因素的影响,并评估生态信念对节能家电购买的中介作用。本研究对 592 名马来西亚消费者进行了问卷调查。研究采用偏最小二乘法对数据进行分析,并对研究假设进行检验。研究结果表明,环境因素对生态信念和生态行为都有积极影响;生态信念与生态行为呈正相关。此外,生态信念对环境因素和生态行为之间的关系起着中介作用。这一整体研究框架有助于在节能家电购买的背景下,对环境因素和个人信念的现有知识进行阐述。
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引用次数: 0
Human resource practices, organisational commitment and turnover intention among bank employees in Sarawak, Malaysia 马来西亚沙捞越州银行员工的人力资源实践、组织承诺和离职意向
IF 1 Q4 MANAGEMENT Pub Date : 2023-12-06 DOI: 10.21315/aamj2023.28.2.10
M. Kasa, Sherrymina Kichin, Zaiton Hassan, Sheena Poh, Nursyafiqah Ramli
Banking industry is becoming more competitive due to escalating bank branches every year. It has been recorded that one of the industries with highest rate of turnover is financial service sector. Employee turnover is contributed by demanding working atmosphere and burdensome workloads. High turnover rate can adversely influence bank’s performance and productivity. It has been exhibited in previous studies concerning association between human resource practices and turnover intention and the role of organisational commitment as a mediator between human resource practices and turnover intention. A total of 283 questionnaires were distributed to bank employees in Kuching, Sarawak, Malaysia. Data analysis disclosed that there is a negative relationship between human resource practices and turnover intention and organisational commitment mediates the associations. The results of the study revealed the importance of bank employers to improve its current human resource practices for boosting organisational commitment and lowering employee turnover intention. Originality/ value of this research study lies on its contribution as the first field study to be performed in Sarawak, Malaysia in relations to human resource practices on turnover intention among bank employees with mediating role of organisational commitment. 
由于银行分支机构逐年增加,银行业的竞争日趋激烈。根据记录,金融服务业是员工流失率最高的行业之一。高要求的工作氛围和繁重的工作量是造成员工流失的原因。高离职率会对银行的业绩和生产力产生不利影响。以往的研究显示了人力资源实践与离职意向之间的关联,以及组织承诺在人力资源实践与离职意向之间的中介作用。本研究向马来西亚沙捞越州古晋市的银行员工发放了 283 份调查问卷。数据分析显示,人力资源实践与离职意向之间存在负相关,而组织承诺则是两者之间的中介。研究结果表明,银行雇主必须改善目前的人力资源实践,以提高组织承诺,降低员工离职意向。本研究的原创性/价值在于,它是在马来西亚砂拉越进行的第一项关于人力资源实践与银行员工离职意向的关系以及组织承诺的中介作用的实地研究。
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引用次数: 0
CEO’s Characteristics and CSR Disclosure: Evidence from Islamic Banks across MENA Region CEO特征与企业社会责任披露:来自中东和北非地区伊斯兰银行的证据
IF 1 Q4 MANAGEMENT Pub Date : 2023-06-30 DOI: 10.21315/aamj2023.28.1.14
Jamel Chouaibi, Wafa Jilani, Salim Chouaibi
The purpose of this paper was to explore the relationship between the characteristics of the chief executive officer (CEO) and corporate social responsibility (CSR) of banks operating in the Middle East and North African (MENA) countries. The study hypotheses was tested using a multiple linear regression model by examining data from a sample of 97 Islamic banks operating in the MENA region between 2015 and 2019. The results were robustly checked and the findings indicated that both CEO’s overconfidence, experience and education appear to have a significantly positive effect on the CSR disclosure. Furthermore, the results of multiple linear regressions showed that older CEO’s have a negative and significant impact on the level of CSR disclosure. This research bridges the gap between theory and practice in many aspects. Thus, although a substantial volume of research has examined sustainable advantage, one vital aspect of CSR has been largely unexplored. This study fills this void in the literature, namely the interaction between CEO’s characteristics and CSR disclosure. An explicit CSR disclosure may improve social well-being in emerging markets.
本文旨在探讨中东和北非(MENA)国家银行首席执行官(CEO)的特征与企业社会责任(CSR)之间的关系。通过检查2015年至2019年间在中东和北非地区运营的97家伊斯兰银行的样本数据,使用多元线性回归模型对研究假设进行了检验。对结果进行了有力的检验,结果表明,首席执行官的过度自信、经验和教育似乎对企业社会责任披露产生了显著的积极影响。此外,多元线性回归的结果表明,年长的CEO对企业社会责任披露水平有负面和显著的影响。这项研究在许多方面弥合了理论与实践之间的差距。因此,尽管大量研究考察了可持续优势,但企业社会责任的一个重要方面在很大程度上尚未得到探索。本研究填补了文献中的这一空白,即CEO特征与企业社会责任披露之间的相互作用。明确的企业社会责任披露可能会改善新兴市场的社会福利。
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引用次数: 0
The Moderating Effects of State Ownership and Duality on the Relationship between Internationalisation and Firm Performance: A Case Study of Listed Firms in Vietnam 国有制和二元性对国际化与企业绩效关系的调节作用——以越南上市公司为例
IF 1 Q4 MANAGEMENT Pub Date : 2023-06-30 DOI: 10.21315/aamj2023.28.1.8
Anh Que Tran, Dut Van Vo
This study was aimed at assessing the moderating effects of state ownership and chief executive officer (CEO) duality on the relationship between internationalisation and the performance of listed firms in the Hanoi Stock Exchange (HNX). A detailed panel data set of listed firms between 2009 and 2018 was analysed and the ordinary least squares (OLS) results revealed that the performance of high internationalising firms with high state ownership was higher than that of those with low or non-state ownership. In contrast, the performance of high internationalising firms governed by CEO duality was lower than that of those without duality. The findings integrate the arguments of the resource-based view and the Uppsala model applied in the transition economy that suggest internationalising listed firms acquire certain benefits from the state, and the separation of the highest two positions in such firms facilitates the exact anticipation of uncertainties and risks in making business decisions.
本研究旨在评估国家所有权和首席执行官二元性对河内证券交易所上市公司国际化与业绩之间关系的调节作用。对2009年至2018年间上市公司的详细面板数据集进行了分析,普通最小二乘法(OLS)结果显示,高国有制的高国际化公司的业绩高于低国有制或非国有制的公司。相比之下,CEO双重性管理的高度国际化公司的业绩低于没有双重性的公司。研究结果整合了基于资源的观点和转型经济中应用的乌普萨拉模型的论点,这些论点表明国际化上市公司从国家获得了一定的利益,而将这些公司的最高两个职位分开有助于准确预测商业决策中的不确定性和风险。
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引用次数: 0
Why Do Subsidiaries Divest? The Role of Subsidiary Performance, Slack Resources, and Sunk Costs 子公司为何剥离?子公司绩效、闲置资源和沉没成本的作用
IF 1 Q4 MANAGEMENT Pub Date : 2023-06-30 DOI: 10.21315/aamj2023.28.1.5
Chen Lu-Jui, Lee Wen-Ruey, Hsu Yu-Hsuan
Subsidiaries are important in the global strategy of multinational enterprises (MNEs). However, in the face of uncertainty and competition, the decision to divest a subsidiary from a market becomes a critical decision for MNEs. This study suggests that the factors for divesting subsidiaries are related not only to the performance of the subsidiary but also to slack resources and sunk costs. It analysed 254 subsidiaries in Taiwan and found that the better the subsidiary’s performance is, the less it would decide to divest from the market. Additionally, it was found that the subsidiary with slack resources would be a moderating variable with a positive impact. In addition, the presence of sunk costs reinforces the positive effect of slack resources on the relationship between subsidiary performance and the non-divestment of the subsidiary. Overall, this study points to the significance of subsidiary performance on decision-making and explains the influence of slack resources and sunk costs.
子公司在跨国企业的全球战略中占有重要地位。然而,面对不确定性和竞争,从市场上剥离子公司的决定成为跨国公司的关键决定。研究表明,剥离子公司的因素不仅与子公司的业绩有关,还与闲置资源和沉没成本有关。它分析了台湾的254家子公司,发现子公司的业绩越好,决定退出市场的次数就越少。此外,研究发现,资源闲置的子公司将是一个具有积极影响的调节变量。此外,沉没成本的存在强化了闲置资源对子公司业绩和子公司不撤资之间关系的积极影响。总体而言,本研究指出了子公司绩效对决策的重要性,并解释了闲置资源和沉没成本的影响。
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引用次数: 0
Building e-Loyalty towards Online Food Delivery Apps: A Serial-Mediation Model 建立对在线送餐应用程序的电子忠诚度:一个串行中介模型
IF 1 Q4 MANAGEMENT Pub Date : 2023-06-30 DOI: 10.21315/aamj2023.28.1.6
Ella Mittal, Navneet Kaur
 This study analysed the mechanism to generate e-loyalty among customers through e-service quality regarding OFD (OFD) apps. It examined the indirect influence of e-service quality on e-loyalty through the mediation of e-trust and e-satisfaction of customers. The serial mediation approach was used to test the proposed model of the study. Data was obtained through a self-administered structured questionnaire filled by 261 respondents from north India. The model hypotheses were tested by applying variance-based partial least squares in software SmartPLS 3. All the results were found to be statistically significant, and all proposed hypotheses were accepted. The results revealed that e-service quality positively contributed to building e-loyalty among customers of OFD apps. Furthermore, the results of the mediation effect suggested that e-trust and e-satisfaction strengthened the relationship between e-service quality and customers’ e-loyalty and therefore, that restaurants using OFD apps should try to provide the best online services to build trust along with satisfaction among their customers to increase loyalty to their online platforms. Theoretical implications for scholars and practical implications for the marketer are discussed.
本研究分析了通过OFD应用程序的电子服务质量在客户中产生电子忠诚度的机制。它通过客户的电子信任和电子满意度的中介,检验了电子服务质量对电子忠诚度的间接影响。使用串行中介方法来测试所提出的研究模型。数据是通过261名来自印度北部的受访者填写的自行管理的结构化问卷获得的。通过在软件SmartPLS 3中应用基于方差的偏最小二乘来检验模型假设。所有结果都具有统计学意义,所有提出的假设都被接受。结果显示,电子服务质量对OFD应用程序客户建立电子忠诚度有积极贡献。此外,中介效应的结果表明,电子信任和电子满意度加强了电子服务质量与客户电子忠诚度之间的关系,因此,使用OFD应用程序的餐厅应努力提供最好的在线服务,以在客户中建立信任和满意度,从而提高对其在线平台的忠诚度。讨论了对学者的理论启示和对营销人员的实践启示。
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引用次数: 0
Effects of Economic Growth, Electricity Consumption, Energy Use, and Urbanisation on Carbon Dioxide Emissions in Vietnam 越南经济增长、电力消耗、能源使用和城市化对二氧化碳排放的影响
IF 1 Q4 MANAGEMENT Pub Date : 2023-06-30 DOI: 10.21315/aamj2023.28.1.12
Anh Tru Nguyen
The aim of this paper was to explore the causal relationship between CO2 emissions, economic growth, electricity consumption, energy use, and urbanisation in Vietnam between 1982 and 2016 using the Vector Error Correction Model (VECM). In the short run, it has been empirically proven that GDP, electricity consumption, and energy use have significant and positive relationships with CO2 emissions in Vietnam. Results also indicated that electricity consumption and energy use are the main contributors to increase GDP while CO2 emissions and urban population negatively affect GDP. It was also found that GDP has a significant and negative impact on electricity consumption, but energy use positively affects electricity consumption in Vietnam. Further, urban population has a negative influence on energy use, while the latter has a positive relationship with urban population. In the long run, results showed that GDP per capita and energy use per capita have significant and positive influence on CO2 emissions in Vietnam while urban population contributes to reducing CO2 emissions. The results of the Johansen co-integration test showed that there is a long run relationship between CO2 emissions, economic growth, electricity consumption, energy use, and urbanisation. Results implied that economic growth should be considered by the Vietnamese government along with the target in environmental protection, and urbanisation should be carefully managed to achieve sustainable development in Vietnam.
本文的目的是使用向量误差校正模型(VECM)探讨1982年至2016年间越南二氧化碳排放、经济增长、电力消耗、能源使用和城市化之间的因果关系。从短期来看,经验证明,越南的GDP、电力消耗和能源使用与二氧化碳排放量有着显著而积极的关系。结果还表明,电力消耗和能源使用是GDP增长的主要贡献者,而二氧化碳排放和城市人口对GDP产生负面影响。研究还发现,国内生产总值对电力消费有显著的负面影响,但能源使用对越南的电力消费有积极影响。此外,城市人口对能源使用有负面影响,而能源使用与城市人口呈正相关。从长远来看,研究结果表明,人均GDP和人均能源使用对越南的二氧化碳排放具有显著和积极的影响,而城市人口有助于减少二氧化碳排放。Johansen协整测试的结果表明,二氧化碳排放、经济增长、电力消耗、能源使用和城市化之间存在长期关系。结果表明,越南政府应将经济增长与环境保护目标一并考虑,并应谨慎管理城市化,以实现越南的可持续发展。
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引用次数: 0
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Asian Academy of Management Journal
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