Future Business Journal最新文献

Abstract

Corporate governance relies significantly on the board of directors, who act as custodians of shareholders' interests. The dynamics of social connections between Chief Executive Officers (CEOs) and board members form a critical element that influences information exchange within this vital governance structure. This study seeks to assess the impact of these social connections on organizational performance. We conducted a comprehensive analysis of the professional backgrounds of CEOs and board members to measure the extent of their social connections. Employing multiple regression analysis with robust error corrections, we considered essential economic and financial metrics, including Return on Assets (ROA), Return on Equity (ROE), and Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA). Our findings reveal that professional social connections have a positive influence on ROA (β = 0.0230|p-value ≤ 0.05) and EBITDA (β = 420,517,1|p-value ≤ 0.05), while educational connections exhibited no significant effect, and familial connections were found to adversely affect EBITDA (β = − 516,307,0|p-value ≤ 0.05). This study highlights the real influence of social connections on firm performance, shedding light on the complex interplay between social dynamics and corporate success. These insights contribute to a more comprehensive understanding of corporate governance and the factors driving organizational performance.

Purpose

The present study sought to comprehend the impact of human capital on radical and incremental innovation, with a focus on examining the mediating effects of entrepreneurial passion and entrepreneurial alertness.

Design/methodology/approach

The study employed a purposive sampling technique for collecting data from entrepreneurs in from different sectors of Pakistan. A sample of 382 entrepreneurs completed the survey. Data were analyzed using SPSS and AMOS. Reliability, discriminant, and convergent validity tests were conducted, and structural equation modeling was used to test the hypotheses.

Findings

It was revealed that human capital has a significant impact on radical and incremental innovation. Furthermore, entrepreneurial passion and alertness significantly mediates the relationship between human capital and innovation.

Originality/value

The study contributes to the emerging research on innovation in entrepreneurship. There is limited research on types of innovation and entrepreneurial alertness in Pakistan; therefore, the study adds value to the scarce empirical research on innovation and entrepreneurial alertness and passion.

This study analyzes the impact of e-governance on corruption using a panel dataset comprising 110 countries over the period from 2003 to 2021. The specific focus of the research is on the relationship between the E-government Development Index (EGDI) and its four components, namely the Online Service Index (OSI), Human Capital Index (HCI), Telecommunication Infrastructure Index (TII), and E-Participation Index (EPI), and their effects on the Corruption Perceptions Index (CPI). To examine these relationships, the empirical analysis employs a fixed effect model, which is a suitable statistical approach for panel data analysis. The findings of the study reveal significant negative associations between the EGDI, OSI, HCI, and TII with corruption levels across countries worldwide. This implies that higher levels of e-government development, online service provision, human capital, and telecommunication infrastructure are associated with lower corruption perceptions. However, the EPI does not demonstrate a statistically significant relationship with the CPI. Based on these results, the paper provides recommendations for governments to prioritize two key areas. Firstly, governments should invest in the development of e-government infrastructure to enhance transparency, accountability, and efficiency in public administration, thereby reducing corruption. Secondly, initiatives aimed at enhancing public awareness and understanding of e-governance should be prioritized, as they contribute to increased citizen engagement and participation, which can ultimately lead to improved governance practices and reduced corruption levels.

The study primarily aims to examine the impact of financial distress on the dividend distribution policy of banks operating in India. Panel data analysis was performed using a static model to investigate the impact of distress on the bank’s dividend policy. The Z-score developed by Altman measures a bank’s financial distress (a high Z-score indicates the absence of financial distress). Data from 31 out of 34 banks operating in India between 2016 and 2020 has been used. The debt/equity ratio is used as the moderator. The sales log is used as the control variable. A linear connection exists between financial distress and dividends. Furthermore, debt/equity ratio significantly moderates the association of financial distress with dividend policy. The findings contribute to formulating a long-term dividend policy by drawing attention to the distressing situation in the banking sector, focusing on ensuring the banks’ financial viability. Thereby, the findings are novel and hold significant worth in improving the current understanding of the subject.

Online retailers in emerging markets like South Africa are adopting Bitcoin payments. This study explores factors driving consumer adoption and word-of-mouth (WOM) recommendations for Bitcoin in online transactions. Using an integrated model combining valency theory, social contagion theory, and the technology acceptance model (TAM), we analyse data from 521 South African online shoppers. Findings reveal that perceived usefulness, ease of use, social pressures, trust, and perceived risk significantly influence both adoption and WOM. Importantly, self-efficacy moderates the relationship between these factors and behaviour. This research contributes to the literature by offering a comprehensive understanding of Bitcoin adoption. For business and policy actors, enhancing consumer self-efficacy can foster trust, ease concerns, and encourage positive WOM, ultimately aiding successful Bitcoin implementation and promotion.

This paper investigates the effects of corporate risk disclosure (CRD) and dividend policy (DP) on firm value (FV) for non-financial companies listed on the Egyptian Stock Exchange. Using a sample of 45 non-financial firms from 2016 to 2022, which yielded 315 firm-year observations, we find a significant positive relationship between CRD and FV, supporting signaling theory. DP also exhibits a positive association with FV. Additionally, DP positively moderates the CRD-FV relationship, indicating a complementary effect where dividends enhance the CRD's positive signal. The results are robust across fixed effects, random effects, and pooled OLS models. This study makes key empirical and theoretical contributions by validating the hypothesized relationships in the Egyptian context. It also provides managerial insights into value drivers for public firms in developing economies. Further research can corroborate the findings in other emerging markets. Overall, this paper enhances understanding of the linkages between risk disclosure, dividend policy, and firm valuation outcomes.

This paper examines the impact of gender diversity on financial reporting quality (accrual and real earnings management). We use a sample of 78 Egyptian listed companies over the period 2009–2021. The quality of financial reporting is measured using different models of earnings management (accrual and real earnings management). Accrual earnings management (AEM) is detected through four different models developed by modified Jones model, the Kasznik model, Kothari model, Raman and Shahrur model, while real earnings management (REM) is measured using six different model which are abnormal cash flows from operations (ABCFO), abnormal production costs (ABPROD), abnormal discretionary expenditures (ABDISEXP) and three aggregate proxies (RM1, RM2, RM3). Using the system generalized method of moments, companies with more gender diversity are more effective in reducing accrual earnings manipulation (AEM). The exception is the modified Jones model. Moreover, we find that gender diversity is positively and significantly correlated with financial reporting quality based on proxies of real earnings-based activity, except for RM2. The study found a non-significant and negative relationship between board diversity and RM2 as a proxy for REM. Overall, the empirical results based on accrual and real earnings management models (AEM and REM) support the notion that enterprises with more gender diversity on the board are more effective in controlling earnings manipulation practices. The predictions of corporate governance theories are confirmed. Policy makers should continue to promote and support gender diversity in leadership positions within organizations. This can be achieved through initiatives such as diversity quotas, mentoring programs, and leadership development opportunities for women.

The study conducts a comprehensive retrospective analysis of the social media marketing literature along with text mining and bibliometric analysis using data obtained from the Scopus database. The analysis is conducted for the literature published during 2007–2022 using VOSviewer application and Biblioshiny. The analysis revealed the publication trend and emerging themes in the research landscape of social media marketing. This study has pointed towards important theoretical and practical implications pertaining to the social media marketing. It contributes to the understanding of social media marketing research by identifying and listing the best journal, authors, country, documents, most occurred words, social and intellectual structure, and emerging research trends. The results revealed that social media marketing research is at the focal point of the researchers throughout the word. This study found that there are lack of studies from firm perspective especially small retailers; adoption of disruptive technologies such as AI, ML and block chain and its impact need more exploration.

Where Egypt stand with climate related-risk disclosures and why stakeholders and organizations require such information? This research aims to measure the climate risk disclosure level in Egyptian companies and to investigate its determinants. As unfavorable climatic circumstances create systemic risk for businesses throughout the whole global economy, this research examine how the disclosure of climate change risks affects the financial performance, financial reporting, and risk management. Few studies analyze how climate-related risk affects the financial performance of publicly traded companies in Egypt. This research applies regression models using both quantitative and qualitative methodologies. The information was gleaned from the 2019 through 2022 financial statements of 25 publicly traded companies. According to statistical analysis, there is a significant positive association between the financial performance, financial reporting, and risk management of industrial organizations and the disclosure of climate change. The findings show that the financial markets require precise, thorough, and high-quality information about the effects of climate change. This encompasses the threats and chances posed by increasing temperatures, climate-related legislation, and new technology in our rapidly evolving global environment.

This study examines the impact of environmental, social, and governance (ESG) disclosure on integrated reporting disclosure quality (IRDQ) and the moderating role of board of directors (BOD) characteristics. Prior research on ESG disclosure and IRDQ has been limited, especially in emerging economies like Egypt. Furthermore, the influence of BOD attributes has been underexplored. This study aims to address these gaps. A sample of 34 Egyptian non-financial companies under ESG disclosure mandates from 2015 to 2021 is analyzed using regression analysis. The results show a significant positive association between ESG disclosure and IRDQ. Furthermore, BOD gender diversity and size are found to positively moderate the ESG–IRDQ relationship. These findings highlight that appointing more women on boards and increasing board size can improve IRDQ when firms engage in ESG disclosure. However, the small sample size of ESG-mandated companies and inherent limitations in constructing disclosure indices constrain the generalizability of results. Overall, this study provides timely empirical evidence on ESG adoption within the unique Egyptian context and its influence on integrated reporting (IR). It contributes to literature by identifying specific BOD characteristics that enhance IRDQ. The results offer practical insights into how companies, regulators, and stakeholders can leverage board diversity and size as well as ESG disclosure to improve IRDQ.