Future Business Journal最新文献

Passive investments such as exchange-traded funds (ETFs) provide an opportunity to invest in indexes, asset classes, and sectors with low maintenance costs and high transparency. Today ETFs dominate the world, with nearly 50% of the investment in the USA coming through ETFs. Numerous studies on specific aspects on ETFs have been done earlier; however, considering the scarcity of thorough summaries in the existing body of literature, this bibliometric and systematic review aims to adopt a methodical approach with the goal of delivering qualitative and quantitative understanding of ETFs, while highlighting general research trends. The authors analyzed 2058 articles associated with ETFs from the Scopus database during the last 50 years, i.e., from 1973 till date. The search was initially conducted using title, keyword, and abstract, yielding 2058 articles, which were narrowed to only include research papers and review papers, resulting in a final count of 958 items. The most important authors, highest cited articles, prominent journals, important themes, and associated countries have been identified using bibliometric research. The numerical and visual representations of the analysis show that ETFs are a widely studied research area, and the enormous rise in publications in 2020, 2021, and 2022 demonstrates that researchers are quite interested in the topic. According to affiliation statistics, most research is focused in the USA together with other developed nations, opening new options for the research on ETFs in relation to developing economies. The current analysis reconciles numerous exchange-traded fund studies associated with volatility, liquidity, risk-return trade-off, and tracking errors and identifies possible research gaps. Some of the emerging topics that evolved in passive investments include the use of machine learning, AI, and the emergence of ETFs associated with ESG and sustainability. This research will help lawmakers, scholars, and regulators understand the core principles of ETFs and identify areas that deserve additional investigation.

Career crafting has emerged as a significant construct in the field of career development, with the potential to significantly boost individuals’ overall work satisfaction. This study aimed to examine whether career crafting could improve individual’s subjective career success and perceived employability. Career crafting is an inevitable course of career-related actions to achieve career satisfaction. Based on proactive behavior theory, it is hypothesized that career crafting would have an impact on individuals’ subjective career success and perceived employability through the moderating role of job autonomy. Using cross-sectional study design, data were collected via Google Forms survey from 224 employees working in various fields in Pakistan and data were analyzed using structural equation modeling (SEM) via AMOS. The results indicate that career crafting has a significant positive relationship with subjective career success and perceived employability. Furthermore, job autonomy also has significant positive relationship with subjective career success and perceived employability. However, the moderation of job autonomy was not supported. This study provides robust insights to career practitioners, academicians, and individuals. Overall, the study expands the literature of the novel notion of career crafting and career outcomes; additionally, the study advocates organizations to include career crafting in HR policies and helping them to enhance the well-being of employees in their career development.

This paper aims to examine the impact of both information technology governance (ITG) and data governance on information technology (IT) performance in the telecommunication industry. A questionnaire of 308 managers was collected from all telecommunication companies that are working in Egypt. Data were analyzed using smart partial least squares (PLS). The results showed that all the hypotheses of the study had been accepted. IT and data governance have a significant impact on both financial and non-financial performance. However, each of them has a different effect on the IT performance dimensions. The financial performance of IT department had been affected by IT governance more than data governance. Also, innovation and flexibility were the most affected by IT governance. On the other hand, data governance affected business processes and ethical compliance more than IT governance. The current study filled the gap on the literature in two ways. First, studying both IT governance and data governance as a critical factors affects financial and non-financial performance. Second, studying IT governance and data governance has become more important, especially in the telecommunication industry as it is a big challenge now to secure the data of the companies.

The study aims to investigate causal recipes to improve restaurant customers’ loyalty (LOY) during COVID-19 post-pandemic. The study utilizes Fuzzy-set Qualitative Comparative Analysis (fsQCA) within the framework of complexity theory to examine the intricate relationship between antecedent conditions, including Socially Responsible COVID-19 practices (CSR), Service Quality (SR), Customer Experience (EXP), Customer Satisfaction (SAT), Trust (TR), and Customer Commitment (COMM). The study used a quantitative survey approach, using a Likert scale to achieve the study aim. The survey has been strategically developed to gather intricate replies, taking influence from well-established scales within the area. The research purposefully recruited customers from the restaurant industry in Pakistan. A total of 450 full and valid replies were obtained via the use of Google Forms and paper questionnaires. The fsQCA approach is used to examine the data and ascertain configurations or combinations of antecedent situations that contribute to enhanced levels of loyalty. The results indicate that LOY is a multifaceted phenomenon in the post-pandemic phase of COVID-19 and is not only influenced by individual antecedent situations. This study identifies many routes that lead to increased levels of loyalty, highlighting the need to adopt a comprehensive and integrated strategy. The research emphasizes the diverse impacts of important factors, including CSR, SR, EXP, SAT, TR, and COMM, on loyalty. The novelty of this study is in its utilization of fsQCA and complexity theory to investigate LOY inside the restaurant sector among the distinctive circumstances of the post-pandemic period of COVID-19. This paper presents a critique of conventional symmetrical methods and proposes a comprehensive viewpoint on LOY, highlighting the need for sophisticated and integrated theoretical frameworks. Through the exploration of several routes to increased levels of LOY and the identification of the intricate influences of numerous preceding factors, this study enhances both theoretical and practical comprehension. The study places significant importance on an innovative research methodology and its potential impact on restaurant management, making it a noteworthy contribution to the current body of literature.

The study examines the effect of bank recapitalization and dividend policies on the financial sustainability of rural and community banks (RCBs) in Ghana. Data from 135 RCBs from 2011 to 2020 revealed an average financial sustainability index of 0.525 over the past decade, suggesting that RCBs can finance their operations and liabilities without diminishing shareholder value. Recapitalization and dividend payouts positively impact financial sustainability, with well-capitalized, highly pay-out RCBs showing faster improvements in sustainability compared to those with retention policy. This highlights the importance of RCBs bolstering their capital base, even when not mandated by regulators, to enhance financial sustainability. Furthermore, adopting a relaxed pay-out policy can signal operational efficiency and sustainability to shareholders.

A series of crises triggered over a decade may bring global recession, which may impact millions of investors, including countries teetering on the brink due to forex reserve shortages; this study addresses the significant financial event of a small nation declaring bankruptcy. Such events can have adverse consequences on the global economy, particularly affecting the stock market indices of the country’s trading partners. Our research investigates the impact of small nation bankruptcies on the stock market indices of connected importing and exporting partners. Focusing on the recent political and economic crisis in Sri Lanka, we analyze interactions between the Sri Lankan stock exchange and its key trading partners. Employing pairwise cointegration and the vector auto-regressive model-based Granger causal approach, our findings reveal cointegration among the stock markets in Germany, Italy, and Sri Lanka. Notably, the pre-crisis causal links between the Colombo Stock Exchange and other stock markets have dissolved. These insights hold valuable implications for understanding and preparing for similar circumstances in other South Asian economies grappling with forex shortages and rising inflation.

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Abstract

Working types are one of the main issues affected by the turbulences in today’s business life and should be handled carefully. Telework is developing in the shadow of information and communication technologies and has become a necessary capability for companies to adapt to today’s business conditions. This study determined the importance of the factors in the telework structure with the analytic hierarchy process method. This multi-criteria decision-making method uses fuzzy numbers, which is rare in the telework literature. The results of this study in the context of SMEs show that the factors related to the work attributes significantly impact the telework capability structure. Adoption of telework by senior management as a business strategy is the factor with the highest impact, with some factors related to the culture being other factors with high impact. The fact that technological infrastructure factors did not show the expected effect was a surprising result.

Abstract

This study aims to consolidate the available knowledge on gender diversity and its impact on the dual performance (social and financial) of Microfinance Institutions (MFIs). We specifically focus on MFIs due to their distinctive nature compared to other industries, being traditionally women-centered and having a substantial representation of women employees across all levels of the corporate hierarchy. To conduct this comprehensive analysis, we employed a systematic review approach, meticulously selecting 24 relevant papers from the Scopus and Web of Science databases. Our findings revealed that research on gender diversity in MFIs primarily focuses on the board level. However, existing studies present conflicting results, suggesting that the impact of gender diversity on MFI performance is nuanced and complex. This complexity stems largely from the varying roles women play within the organizational structure. Furthermore, our analysis highlights the influence of additional factors, such as the database used, the study's context, and its geographical location, on the reported outcomes. Notably, research on gender diversity at the managerial and loan officer levels remains scarce, presenting a significant gap in the current body of knowledge. To further illuminate this field, this study identifies the most influential papers on the topic of gender diversity in microfinance. Additionally, we provide a co-authorship network analysis, visualizing the connections between existing research. This analysis provides valuable insights and inspiration for future research endeavors in this critical area.

Purpose

The current study aims to explore the impact of corporate governance (CG) mechanisms, as measured by board size, board meeting frequency, board gender diversity, number of board subcommittees, board remuneration, size of audit committee, and audit committee meeting frequency, on bank intellectual capital (as calculated by the modified value-added intellectual coefficient (M-VAIC) and its components (human capital efficiency (HCE), structural capital efficiency (SCE), and relational capital efficiency (SCE)).

Design/methodology/approach

Panel data is extracted from the financial and other internal reports of 14 commercial banks and the National Bank of Ethiopia for the period 2011–2022. A two-step system generalized method of moments (2SYS-GMM) was used to account for the unobserved endogeneity and heteroscedasticity problems.

Findings

The empirical findings suggest that board size and board meeting frequency have a negative and significant impact on all IC performance measures. Besides, audit committee size has a negative and significant effect on HCE, SCE, and M-VAIC of the banking industry in Ethiopia. Moreover, board remuneration has a significant positive relationship with IC efficiency (HCE, SCE, and M-VAIC). Also, audit committee meeting frequency has a positive and significant effect on the HCE of banks. However, board gender diversity and the number of board subcommittees have not made statistically significant contributions to IC performance.

Research limitation/implication

The study is limited in its use of seven dimensions of CG and future studies can use other alternative accounts for CG variables. Next, this study applies only to commercial banks; hence, future studies can include other financial as well as non-financial organizations such as insurance companies, microfinance institutions, manufacturing, and other sectors.

Practical implications

This study contributes to helping the regulators and practitioners of the banking industry improve the existing standards and guidelines for CG practices to strengthen their IC performance. The findings may also give input for policymakers to integrate the intellectual capital in the decision-making process for policy formulation and implementation for the establishment of a robust banking sector.

Originality/value

Considering the modified value-added IC coefficient (M-VAIC) and 2SYS-GMM models, this research is the first study to analyze the relationships between CG and banks’ IC in Ethiopia.

Robotic Process Automation (RPA) has gained increasing significance in recent years. RPA leverages software bots to automate repetitive business processes traditionally performed by humans, making it one of the easiest, least invasive, and fastest automation approaches. Publications on the topic are scarce, however, and concerns regarding job loss and employee acceptance of new operational processes and technologies remain significant challenges. The additional motivation behind this study is to address the lack of research on the implementation strategy of RPA in the context of ambidexterity, i.e., optimizing enterprise capability in balancing between exploration and exploitation. The paper adopts a managerial perspective and aims to identify the key factors supporting the implementation of RPA in the context of ambidexterity, using an empirical study of service companies as an example. The research methodology employed includes literature review, opinion surveys, and statistical analysis. The paper highlights the stimulating role of the ambidexterity concept in RPA implementation projects and strategies, with a hybrid approach to dynamic balancing of exploitation and exploration. The findings of this paper will be of use for researchers and practitioners in developing effective RPA implementation strategies that balance the needs for exploitation and exploration while factoring in the concerns raised by employees.