Future Business Journal最新文献

Although there has been a growing interest by researchers worldwide over the past decades to identify the factors pertaining to corporate financial distress and to develop financial distress prediction models that serve as early warning signs to the various firm stakeholders, notably to date, studies that were conducted were context specific and cannot be objectively generalized to other countries and rendered mixed inconclusive results. Therefore, the main objective of this study is to thoroughly investigate the factors that affect corporate financial distress in Egypt and to develop a multidimensional financial distress prediction model. Using comprehensive data of EGX100 listed firms, the researcher examines the role played by financial ratios, market-based indicators, macroeconomic factors, and corporate governance mechanisms in modeling corporate financial distress. Empirical results indicate that after controlling for the COVID-19 effects, the most significant financial ratios in predicting corporate financial distress are the working capital to total assets ratio, earnings before interest and taxes to total assets ratio, and the sales to total assets ratio. Such ratios are negatively related to the likelihood of corporate financial distress. However, the market value of equity to total liabilities ratio, and GDP growth rate have a positive impact on the likelihood of financial distress. However, the retained earnings to total assets ratio, the corporate governance mechanisms, the firm market capitalization, the interest rate, and the consumer price index are insignificant in predicting corporate financial distress in the Egyptian context. The resulting model demonstrates outstanding classification accuracy at around 96%.

This study explores the attitude–behavior relationship among voters for political party brands that use a sustainable or green marketing approach. A structural equation modeling is used to analyze data collected from 1771 respondents who are registered Indian voters in this case. A positive attitude toward a political brand is compared to intentions to vote for the same brand. According to the findings, political brands create a more environmentally friendly product in the form of green actions because doing so encourages consumers to think favorably of the political brand, which results in them voting for it. As a result, authors are able to identify a positive attitude–behavior relationship for political brands among voters.

Despite the presence of a considerable corpus of literature investigating the impact of aid on nations' development, the efficiency of utilizing this finite pool of development finance remains ambiguous. The main aim of this study is to address the existing research gap by examining the efficiency of utilizing such development assistance in achieving three specific Sustainable Development Goals (SDGs) from 2002 to 2020 using a Data Envelopment Analysis (DEA) methodology. Moreover, this study examines the theoretical underpinnings that show a correlation between the impact of aid on development and the governance and political structure of countries. The findings indicate that the efficiency of development assistance often falls short of optimal, underscoring the necessity for more attention to its administration, particularly in low-income countries. The efficiency of development assistance can be significantly enhanced by organizational improvements, resulting in a significant increase beyond 80%. The confirmation of the robustness of the findings was attained by the application of the bootstrapping methodology. Hence, it is crucial to recognize that while augmenting the levels of development assistance may hold significance, it alone may not be adequate to guarantee efficient utilization in bridging the financial gap required to meet the desired objectives of the SDGs by 2030.

This study aims to develop a systematic review of the influence of Service Quality and Perceived Value on Satisfaction and Intention to Continue the Relationship from an international and empirical perspective. The Preferred Reporting Items for Systematic Reviews and Meta-analyzes (PRISMA) is used as a guideline for systematic literature review to collect data. The selected journal timeframe is from 2008 to 2024, with 22 chosen articles meeting the criteria. Analysis of the selected primary studies reveals that the concepts of Service Quality and Perceived Value can be associated with Satisfaction and Intention to Continue the Relationship. However, an inconsistency was found that there was a significant and insignificant relationship between Perceived Value and Intention to Continue the Relationship, indicating the need for further development to be scientifically verified and to serve as a gap and reference for future researchers to investigate in different research settings. Novelty: Studies related to Intention to Continue the Relationship measured based on Service Quality, Perceived Value, and Satisfaction have been limited. Additionally, this study attempts to develop a more comprehensive concept or model of Intention to Continue the Relationship involving Service Quality, Perceived Value, and Satisfaction.

Drawing on conservation of resources theory, the study aimed to investigate the relationship between work–family conflict (time-based, strain-based and behavior-based) and project manager abusive supervision in the presence of mediating mechanism and boundary condition. Time-lagged data were collected from 235 respondents working on construction projects to examine the proposed relationships by utilizing regression analysis. Findings indicated that the dimensions of work–family conflict had a positive significant relationship with abusive supervision and negative relationship with project commitment. Additionally, project commitment mediated the relationships and psychological resilience were found to alleviate the negative influence of work–family conflict on project commitment. Surprisingly, the results delineated that strain-based work–family conflict have more pronounced influence in instigating abusive supervision. This study is unique as it broadens the empirical research on work–family conflict and more particularly negative supervisor behavior in the project context.

Purpose

This paper aims to examine the moderating effects of board size on the relationship between dividends and firm value in Malaysian settings. The theoretical foundations of this research were the integration between agency and resources dependency theories.

Design/methodology/approach

Panel data are extracted from DataStream and the annual report for the period of 2012 to 2021, and pooled OLS, random effects, and fixed effects analyses were employed to examine the relationship. Breusch–Pagan Lagrange multiplier (LM) test and the Hausman test used to determine the most appropriate between these three analyses (OLS, random effects, and fixed effects). The results are valid even after calculating the robust standard error to mitigate the potential heteroskedasticity and serial correlation.

Findings

The empirical results show that board size positively moderates the relationship between dividends and firm value in all the models tested. The results indicate that a larger board of size can minimize the agency problem (agency theory) because a larger board size can more effectively monitor and control management's opportunistic behavior due to more set of skilled and talented individuals included in the boardroom (resources dependency theory). Additionally, effective monitoring can also lead to the increase in dividend payout to maintain a good reputation among investors and simultaneously increase firm value.

Practical implication

This study contributes to helping the regulators and industry players in Malaysia to improve existing guidelines for determining dividend and board size to increase firm value. The findings may also provide inputs to the policymakers in recommending the optimum dividend and board size that resulting an increase in valuation.

Originality/value

By incorporating agency and resources dependency theory, authors investigate the moderating effect of board size on dividend and firm value relationships in Malaysian markets.

This study hypothesizes that distracted auditors affect audit quality. As a result of resources scarcity, auditors pay more attention to financially distressed audit clients rather than non-financially distressed audit clients at the same audit client portfolio which eventually leads to differences in audit quality. In this context, earnings restatement of audit clients is used as a distraction event of auditors. Distracted auditor is measured by the percentage of the audit fees of financially distressed audit clients to total audit fees and audit quality is proxied by total accruals. The data is obtained from firms listed on the US stock market over eleven years between 2010 and 2020. The results indicate that financially distressed audit clients of distracted auditors receive higher audit quality than non-financially distressed audit clients of the same audit client portfolio. Further analysis suggests that this difference in audit quality between financially distressed audit clients and non-financially distressed audit clients decreases with skeptical auditors. This study introduces a new comprehensive approach to measure professional skepticism using KAMs disclosure. The results are robust to different measurements of distracted auditors, audit quality and professional skepticism. Overall, the empirical analyses suggest that distracted auditors have a decreasing differential impact on audit quality by professional skepticism.