Pub Date : 2023-02-16DOI: 10.1108/qrfm-08-2022-0133
Umair Riaz, Muhammad Al Mahameed, Lisa Gentemann, T. Dunne
Purpose This study aims to explore how organisations use institutional language in Green Bond reports to explain and justify their activities using language that describes and reflects narratives while simultaneously constructing and shaping ideology. The paper mobilises Wodak and Meyer’s critical discourse analysis (CDA) to examine reports and related documentation relating to Green Bonds issued in France. Design/methodology/approach The study uses three legitimating discourses: technocratic, environmental and social and business performance to develop a linguistic perspective that permits contributions to existing knowledge in the area. Findings The analysis attempts to identify the discursive strategies used to legitimise Green Bond issuance via claims linked to environmental management improvements and business activities’ social impact. Originality/value The study contributes to the critical literature on organisational legitimation and responsibility, investigations of Green Bond narratives and an understanding of broader environmental reporting in the financial sector.
{"title":"Discourse and the creation of French green bond legitimacy","authors":"Umair Riaz, Muhammad Al Mahameed, Lisa Gentemann, T. Dunne","doi":"10.1108/qrfm-08-2022-0133","DOIUrl":"https://doi.org/10.1108/qrfm-08-2022-0133","url":null,"abstract":"\u0000Purpose\u0000This study aims to explore how organisations use institutional language in Green Bond reports to explain and justify their activities using language that describes and reflects narratives while simultaneously constructing and shaping ideology. The paper mobilises Wodak and Meyer’s critical discourse analysis (CDA) to examine reports and related documentation relating to Green Bonds issued in France.\u0000\u0000\u0000Design/methodology/approach\u0000The study uses three legitimating discourses: technocratic, environmental and social and business performance to develop a linguistic perspective that permits contributions to existing knowledge in the area.\u0000\u0000\u0000Findings\u0000The analysis attempts to identify the discursive strategies used to legitimise Green Bond issuance via claims linked to environmental management improvements and business activities’ social impact.\u0000\u0000\u0000Originality/value\u0000The study contributes to the critical literature on organisational legitimation and responsibility, investigations of Green Bond narratives and an understanding of broader environmental reporting in the financial sector.\u0000","PeriodicalId":45060,"journal":{"name":"Qualitative Research in financial Markets","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2023-02-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42531732","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-02-14DOI: 10.1108/qrfm-09-2021-0157
K. Tomczak
Purpose This study aims to examine the effect of the COVID-19 pandemic on the banking sector and to assess if COVID-19 was a trigger for the banking crisis. Design/methodology/approach To achieve the main objective, the beta of the banking sector was calculated and analysed. In addition, a fixed panel regression model was applied over the period from the 30th of December 2019 until the 24th of September 2021. Findings The results suggest that the pandemic contributed to higher volatility and risk in banking sector but did not confirm a systematic banking crisis. Originality/value This paper contributes to the literature by analysing the COVID-19 pandemic as a potential trigger for a banking crisis. This paper also contributed by studying the effects of COVID-19 on the banking sector, especially the risk in the banking sector.
{"title":"The impact of COVID-19 on the banking sector. Are we heading for the next banking crisis?","authors":"K. Tomczak","doi":"10.1108/qrfm-09-2021-0157","DOIUrl":"https://doi.org/10.1108/qrfm-09-2021-0157","url":null,"abstract":"\u0000Purpose\u0000This study aims to examine the effect of the COVID-19 pandemic on the banking sector and to assess if COVID-19 was a trigger for the banking crisis.\u0000\u0000\u0000Design/methodology/approach\u0000To achieve the main objective, the beta of the banking sector was calculated and analysed. In addition, a fixed panel regression model was applied over the period from the 30th of December 2019 until the 24th of September 2021.\u0000\u0000\u0000Findings\u0000The results suggest that the pandemic contributed to higher volatility and risk in banking sector but did not confirm a systematic banking crisis.\u0000\u0000\u0000Originality/value\u0000This paper contributes to the literature by analysing the COVID-19 pandemic as a potential trigger for a banking crisis. This paper also contributed by studying the effects of COVID-19 on the banking sector, especially the risk in the banking sector.\u0000","PeriodicalId":45060,"journal":{"name":"Qualitative Research in financial Markets","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2023-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43661344","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-02-08DOI: 10.1108/qrfm-02-2022-0028
Razali Haron, Galad Mohamed Barre
Purpose The purpose of this study is to examine the acceptability of tawarruq in the banking industry in Somalia, focusing on awareness, need, compatibility, relative advantage, behavioral attitude and the role of Shariah scholars. This study is governed by the Theory of Islamic Consumer Behavior. Design/methodology/approach A questionnaire survey was conducted involving 150 customers of Islamic banks in Mogadishu, Somalia. This research adopts a quantitative methodology, using descriptive and survey analyses by employing SPSS 23. Smart-PLS-4 SEM was used to test the six hypotheses established in the study. Findings This study provides evidence that the customers of Islamic banks in Somalia are looking forward to Islamic banks offering tawarruq in the country. Respondents viewed tawarruq as a very attractive product compared to other existing products of Islamic banks in the country. The need for tawarruq, its compatibility and relative advantage have a positive and significant influence on the intention to use tawarruq products for cash financing purposes, whereas customer awareness, behavioral attitudes and the role of Shariah scholars have insignificant influence. Practical implications The findings of this study can be beneficial to all Islamic financial institutions in Somalia by applying tawarruq contract to facilitate cash financing. Originality/value This study contributes to the literature by enhancing the awareness of tawarruq in Somalia. The study also shed light on the need of Islamic banks’ customers on tawarruq for cash financing purposes in Somalia.
{"title":"Application of tawarruq in Islamic banking institutions in Somalia","authors":"Razali Haron, Galad Mohamed Barre","doi":"10.1108/qrfm-02-2022-0028","DOIUrl":"https://doi.org/10.1108/qrfm-02-2022-0028","url":null,"abstract":"\u0000Purpose\u0000The purpose of this study is to examine the acceptability of tawarruq in the banking industry in Somalia, focusing on awareness, need, compatibility, relative advantage, behavioral attitude and the role of Shariah scholars. This study is governed by the Theory of Islamic Consumer Behavior.\u0000\u0000\u0000Design/methodology/approach\u0000A questionnaire survey was conducted involving 150 customers of Islamic banks in Mogadishu, Somalia. This research adopts a quantitative methodology, using descriptive and survey analyses by employing SPSS 23. Smart-PLS-4 SEM was used to test the six hypotheses established in the study.\u0000\u0000\u0000Findings\u0000This study provides evidence that the customers of Islamic banks in Somalia are looking forward to Islamic banks offering tawarruq in the country. Respondents viewed tawarruq as a very attractive product compared to other existing products of Islamic banks in the country. The need for tawarruq, its compatibility and relative advantage have a positive and significant influence on the intention to use tawarruq products for cash financing purposes, whereas customer awareness, behavioral attitudes and the role of Shariah scholars have insignificant influence.\u0000\u0000\u0000Practical implications\u0000The findings of this study can be beneficial to all Islamic financial institutions in Somalia by applying tawarruq contract to facilitate cash financing.\u0000\u0000\u0000Originality/value\u0000This study contributes to the literature by enhancing the awareness of tawarruq in Somalia. The study also shed light on the need of Islamic banks’ customers on tawarruq for cash financing purposes in Somalia.\u0000","PeriodicalId":45060,"journal":{"name":"Qualitative Research in financial Markets","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2023-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41505229","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-02-08DOI: 10.1108/qrfm-07-2021-0124
Rafał Wolski, Monika Bolek, Jerzy Gajdka, Janusz Brzeszczyński, Ali M. Kutan
Purpose This study aims to answer the question whether investment funds managers exhibit behavioural biases in their investment decisions. Furthermore, it investigates if fund managers, as a group of institutional investors, make decisions in response to central bank’s communication as well as other information in relation to various behavioural inclinations. Design/methodology/approach A comprehensive study was conducted based on a questionnaire, which is composed of three main parts exploring: (1) general information about the funds under the management of the surveyed group of fund managers, (2) factors that influence the investment process with an emphasis on the National Bank of Poland communication and (3) behavioural inclinations of the surveyed group. Cronbach’s alpha statistic was applied for measuring the reliability of the survey questionnaire and then chi-squared test was used to investigate the relationships between the answers provided in the survey. Findings The central bank’s communication matters for investors, but its impact on their decisions appears to be only moderate. Interest rates were found to be the most important announcements for investment fund managers. The stock market was the most popular market segment where the investments were made. The ultra-short time horizon played no, or only small, role in the surveyed fund managers’ decisions as most of them invested in a longer horizon covering 1 to 5 years. Moreover, most respondents declared that they considered in their decisions the information about market expectations published in the media. Finally, majority of the fund managers manifested limited rationality and were subject to behavioural biases, but the decisions and behavioural inclinations were independent and, in most cases, they did not influence each other. Practical implications The results reported in this study can be used in practice to better understand and to improve the fund managers’ decision-making processes. Originality/value Apart from the commonly tested behavioural biases in the group of institutional investors in the existing literature, such as loss aversion, disposition effect or overconfidence, this paper also focuses on the less intensively analysed behavioural inclinations, i.e. framing, illusion of the control, representativeness, sunk cost effect and fast thinking. The originality of this study further lies in the way the research was conducted through interviews with fund managers, who were found to be subject to behavioural biases, although those behavioural inclinations did not influence their investment decisions. This finding indicates that professionalism and collectivism in the group of institutional investors protect them from irrationality.
{"title":"Do investment fund managers behave rationally in the light of central bank communication? Survey evidence from Poland","authors":"Rafał Wolski, Monika Bolek, Jerzy Gajdka, Janusz Brzeszczyński, Ali M. Kutan","doi":"10.1108/qrfm-07-2021-0124","DOIUrl":"https://doi.org/10.1108/qrfm-07-2021-0124","url":null,"abstract":"\u0000Purpose\u0000This study aims to answer the question whether investment funds managers exhibit behavioural biases in their investment decisions. Furthermore, it investigates if fund managers, as a group of institutional investors, make decisions in response to central bank’s communication as well as other information in relation to various behavioural inclinations.\u0000\u0000\u0000Design/methodology/approach\u0000A comprehensive study was conducted based on a questionnaire, which is composed of three main parts exploring: (1) general information about the funds under the management of the surveyed group of fund managers, (2) factors that influence the investment process with an emphasis on the National Bank of Poland communication and (3) behavioural inclinations of the surveyed group. Cronbach’s alpha statistic was applied for measuring the reliability of the survey questionnaire and then chi-squared test was used to investigate the relationships between the answers provided in the survey.\u0000\u0000\u0000Findings\u0000The central bank’s communication matters for investors, but its impact on their decisions appears to be only moderate. Interest rates were found to be the most important announcements for investment fund managers. The stock market was the most popular market segment where the investments were made. The ultra-short time horizon played no, or only small, role in the surveyed fund managers’ decisions as most of them invested in a longer horizon covering 1 to 5 years. Moreover, most respondents declared that they considered in their decisions the information about market expectations published in the media. Finally, majority of the fund managers manifested limited rationality and were subject to behavioural biases, but the decisions and behavioural inclinations were independent and, in most cases, they did not influence each other.\u0000\u0000\u0000Practical implications\u0000The results reported in this study can be used in practice to better understand and to improve the fund managers’ decision-making processes.\u0000\u0000\u0000Originality/value\u0000Apart from the commonly tested behavioural biases in the group of institutional investors in the existing literature, such as loss aversion, disposition effect or overconfidence, this paper also focuses on the less intensively analysed behavioural inclinations, i.e. framing, illusion of the control, representativeness, sunk cost effect and fast thinking. The originality of this study further lies in the way the research was conducted through interviews with fund managers, who were found to be subject to behavioural biases, although those behavioural inclinations did not influence their investment decisions. This finding indicates that professionalism and collectivism in the group of institutional investors protect them from irrationality.\u0000","PeriodicalId":45060,"journal":{"name":"Qualitative Research in financial Markets","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2023-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45098033","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-02-03DOI: 10.1108/qrfm-12-2021-0215
N. Gupta, Jacqueline Symss
Purpose This paper aims to attempt to examine some of the unique features of cryptocurrency and the reasons for its growing market acceptability. Given the expanding size of cryptocurrency markets, the present study strives to identify whether it can be used as an alternative financial asset in place of traditional financial assets to meet firms' financial constraints. It also provides issues for future research in the area of cryptocurrency markets. Design/methodology/approach This paper analysed 94 research papers from databases such as ScienceDirect, Proquest, EBSCO, Emerald Insight and Web of Science. Articles connected to cryptocurrency, financial assets and corporate financial constraints research were explored. VOSviewer software has been used to visualise the specified body of literature and identify eight clusters in previous literature using keyword and abstract analysis. Findings Studies reveal that cryptocurrency markets are independent of traditional financial markets and cryptocurrency returns have less correlation with traditional financial asset classes. This can be an advantage to firms, especially during times of crisis when traditional financial assets are impacted by significantly lower returns, while cryptocurrencies can serve as an alternative. Realtime data reveals that during the pandemic, cryptocurrencies had the maximum growth in returns which also happened to be a time when firms faced severe cash constraints. While accepting cryptocurrency as a means of exchange is still under review by regulatory authorities, it can be considered an alternative asset for investment purposes. Firms can take advantage of it to overcome financial constraints and thus reap the gains from holding crypto assets for precautionary reasons. Originality/value The present study investigates using cryptocurrency as an alternative financial asset to solve the financial constraint problem in corporates. The issues regarding volatility, cyber securities, gold returns, long-term and short-term returns have been some of the most prominent studies in the area of cryptocurrency. The present study uses eight theme-based clusters to identify the role of cryptocurrency as an alternative investment class and examines evidence-based research regarding the financial returns from holding cryptocurrency over certain traditional asset classes such as gold, currency or stocks. In recent years, it has been found that investors' growing interest in holding cryptocurrency as part of their financial portfolio has led to the substantial appreciation of cryptocurrency prices. To the best of the authors’ knowledge, the study will be a novel attempt to identify the role of cryptocurrency as an antidote to the companies’ financial constraints and liquidity issues.
目的本文旨在探讨加密货币的一些独特特征及其日益被市场接受的原因。鉴于加密货币市场的规模不断扩大，本研究试图确定它是否可以作为替代传统金融资产的替代金融资产，以满足企业的财务约束。它还为加密货币市场领域的未来研究提供了问题。设计/方法论/方法本文分析了来自ScienceDirect、Proquest、EBSCO、Emerald Insight和Web of Science等数据库的94篇研究论文。探讨了与加密货币、金融资产和企业财务约束研究相关的文章。VOSviewer软件已被用于可视化指定的文献主体，并使用关键词和抽象分析识别先前文献中的八个聚类。发现研究表明，加密货币市场独立于传统金融市场，加密货币回报与传统金融资产类别的相关性较小。这对公司来说可能是一个优势，尤其是在危机时期，传统金融资产受到明显较低回报的影响，而加密货币可以作为替代品。实时数据显示，在疫情期间，加密货币的回报增长最大，而这恰好也是公司面临严重现金限制的时候。尽管监管机构仍在审查是否接受加密货币作为交换手段，但它可以被视为投资目的的替代资产。公司可以利用它来克服财务限制，从而出于预防原因从持有加密资产中获得收益。独创性/价值本研究调查了使用加密货币作为替代金融资产来解决企业的财务约束问题。波动性、网络证券、黄金回报、长期和短期回报等问题一直是加密货币领域最突出的研究之一。本研究使用了八个基于主题的集群来确定加密货币作为一种替代投资类别的作用，并考察了关于持有加密货币相对于黄金、货币或股票等某些传统资产类别的财务回报的循证研究。近年来，人们发现，投资者对将加密货币作为其金融投资组合的一部分的兴趣越来越大，这导致了加密货币价格的大幅升值。据作者所知，这项研究将是一次新颖的尝试，旨在确定加密货币作为公司财务约束和流动性问题的解药的作用。
{"title":"Can cryptocurrency solve the problem of financial constraint in corporates? A literature review and theoretical perspective","authors":"N. Gupta, Jacqueline Symss","doi":"10.1108/qrfm-12-2021-0215","DOIUrl":"https://doi.org/10.1108/qrfm-12-2021-0215","url":null,"abstract":"\u0000Purpose\u0000This paper aims to attempt to examine some of the unique features of cryptocurrency and the reasons for its growing market acceptability. Given the expanding size of cryptocurrency markets, the present study strives to identify whether it can be used as an alternative financial asset in place of traditional financial assets to meet firms' financial constraints. It also provides issues for future research in the area of cryptocurrency markets.\u0000\u0000\u0000Design/methodology/approach\u0000This paper analysed 94 research papers from databases such as ScienceDirect, Proquest, EBSCO, Emerald Insight and Web of Science. Articles connected to cryptocurrency, financial assets and corporate financial constraints research were explored. VOSviewer software has been used to visualise the specified body of literature and identify eight clusters in previous literature using keyword and abstract analysis.\u0000\u0000\u0000Findings\u0000Studies reveal that cryptocurrency markets are independent of traditional financial markets and cryptocurrency returns have less correlation with traditional financial asset classes. This can be an advantage to firms, especially during times of crisis when traditional financial assets are impacted by significantly lower returns, while cryptocurrencies can serve as an alternative. Realtime data reveals that during the pandemic, cryptocurrencies had the maximum growth in returns which also happened to be a time when firms faced severe cash constraints. While accepting cryptocurrency as a means of exchange is still under review by regulatory authorities, it can be considered an alternative asset for investment purposes. Firms can take advantage of it to overcome financial constraints and thus reap the gains from holding crypto assets for precautionary reasons.\u0000\u0000\u0000Originality/value\u0000The present study investigates using cryptocurrency as an alternative financial asset to solve the financial constraint problem in corporates. The issues regarding volatility, cyber securities, gold returns, long-term and short-term returns have been some of the most prominent studies in the area of cryptocurrency. The present study uses eight theme-based clusters to identify the role of cryptocurrency as an alternative investment class and examines evidence-based research regarding the financial returns from holding cryptocurrency over certain traditional asset classes such as gold, currency or stocks. In recent years, it has been found that investors' growing interest in holding cryptocurrency as part of their financial portfolio has led to the substantial appreciation of cryptocurrency prices. To the best of the authors’ knowledge, the study will be a novel attempt to identify the role of cryptocurrency as an antidote to the companies’ financial constraints and liquidity issues.\u0000","PeriodicalId":45060,"journal":{"name":"Qualitative Research in financial Markets","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2023-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42724522","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-02-01DOI: 10.1108/qrfm-04-2021-0057
Olfa Berrich, Halim Dabbou
Purpose This study aims to explore the failures of Tunisian secondary corporate bond market liquidity to understand the determinants of corporate bond market liquidity at large. Design/methodology/approach We adopted a qualitative approach to studying the Tunisian Stock Exchange. Dealers’ perceptions were collected through semi-structured face-to-face interviews; the data was recorded, transcribed and thematically analysed. Findings Secondary corporate bond market failures are due, in part, to microstructural choices – especially the use of an over-the-counter market as a trading venue. The absence of a corporate bond yield curve, a narrow investor base, market participants’ lack of financial education and authorities’ attitudes are equally responsible. Research limitations/implications This study is useful to researchers, policymakers and practitioners, as it identifies microstructural and other factors affecting the Tunisian secondary corporate bond market. We interviewed only Tunisian dealers while ignoring other categories of market participants. Furthermore, a focus group discussion could have improved our understanding of the determinants of the Tunisian secondary corporate bond market. Originality/value This paper aimed to qualitatively discuss several issues related to the Tunisian secondary corporate bond market. To date, little academic research has addressed this topic in the illiquid and non-transparent corporate bond markets.
{"title":"Tunisian corporate bond market liquidity: a qualitative approach","authors":"Olfa Berrich, Halim Dabbou","doi":"10.1108/qrfm-04-2021-0057","DOIUrl":"https://doi.org/10.1108/qrfm-04-2021-0057","url":null,"abstract":"\u0000Purpose\u0000This study aims to explore the failures of Tunisian secondary corporate bond market liquidity to understand the determinants of corporate bond market liquidity at large.\u0000\u0000\u0000Design/methodology/approach\u0000We adopted a qualitative approach to studying the Tunisian Stock Exchange. Dealers’ perceptions were collected through semi-structured face-to-face interviews; the data was recorded, transcribed and thematically analysed.\u0000\u0000\u0000Findings\u0000Secondary corporate bond market failures are due, in part, to microstructural choices – especially the use of an over-the-counter market as a trading venue. The absence of a corporate bond yield curve, a narrow investor base, market participants’ lack of financial education and authorities’ attitudes are equally responsible.\u0000\u0000\u0000Research limitations/implications\u0000This study is useful to researchers, policymakers and practitioners, as it identifies microstructural and other factors affecting the Tunisian secondary corporate bond market. We interviewed only Tunisian dealers while ignoring other categories of market participants. Furthermore, a focus group discussion could have improved our understanding of the determinants of the Tunisian secondary corporate bond market.\u0000\u0000\u0000Originality/value\u0000This paper aimed to qualitatively discuss several issues related to the Tunisian secondary corporate bond market. To date, little academic research has addressed this topic in the illiquid and non-transparent corporate bond markets.\u0000","PeriodicalId":45060,"journal":{"name":"Qualitative Research in financial Markets","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41868406","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-27DOI: 10.1108/qrfm-11-2021-0190
Amith Vikram Megaravalli
Purpose The main purpose of the paper is to critically review the studies in the area of management and entrepreneurship. Secondly, the study aims to identify various performance measures used by researchers to evaluate short and long-term IPO performance. Design/methodology/approach The author used systematic database survey procedures recommended in previous studies for the review (Short, 2009; Uberbacher, 2014). The review of the study includes articles published in top management and entrepreneurship journal published after 2009 (January 2010 to December 2020). The source of the collection of articles is the Web of Science and Scopus databases. The search included keywords: initial public offering(s) and IPO(s). The study considers the top journals in the area of management, which includes Administrative Science Quarterly, Journal of Management, Journal of Management Studies, Organization Science and Strategic Management Journal. In entrepreneurship, the author included: Entrepreneurship Theory and Practice, Journal of Business Venturing and Journal of Small Business Management. After careful consideration of each article, the search returned 104 articles, of which (92 articles) were empirical studies. Findings The outcome of the study will recommend research gaps and questions for future studies. The review will also recommend prominent performance measures to evaluate IPO performance. Originality/value The study contributes to the literature of management and entrepreneurship in two folds. First, the study critically reviewed the three themes (“Corporate governance”, “Upper echelons” and “Social influence”). Second, the author also reviewed various IPO performance measures used the management and entrepreneurship scholars from IPO context. Finally, the study identifies the research gap/research question in the three themes as well as five new themes, which can be a valuable addition for future studies. The author hopes that this study will further help future scholars to enhance the understanding of IPO in the area of management and entrepreneurship.
{"title":"Initial public offering: a critical review of literature","authors":"Amith Vikram Megaravalli","doi":"10.1108/qrfm-11-2021-0190","DOIUrl":"https://doi.org/10.1108/qrfm-11-2021-0190","url":null,"abstract":"\u0000Purpose\u0000The main purpose of the paper is to critically review the studies in the area of management and entrepreneurship. Secondly, the study aims to identify various performance measures used by researchers to evaluate short and long-term IPO performance.\u0000\u0000\u0000Design/methodology/approach\u0000The author used systematic database survey procedures recommended in previous studies for the review (Short, 2009; Uberbacher, 2014). The review of the study includes articles published in top management and entrepreneurship journal published after 2009 (January 2010 to December 2020). The source of the collection of articles is the Web of Science and Scopus databases. The search included keywords: initial public offering(s) and IPO(s). The study considers the top journals in the area of management, which includes Administrative Science Quarterly, Journal of Management, Journal of Management Studies, Organization Science and Strategic Management Journal. In entrepreneurship, the author included: Entrepreneurship Theory and Practice, Journal of Business Venturing and Journal of Small Business Management. After careful consideration of each article, the search returned 104 articles, of which (92 articles) were empirical studies.\u0000\u0000\u0000Findings\u0000The outcome of the study will recommend research gaps and questions for future studies. The review will also recommend prominent performance measures to evaluate IPO performance.\u0000\u0000\u0000Originality/value\u0000The study contributes to the literature of management and entrepreneurship in two folds. First, the study critically reviewed the three themes (“Corporate governance”, “Upper echelons” and “Social influence”). Second, the author also reviewed various IPO performance measures used the management and entrepreneurship scholars from IPO context. Finally, the study identifies the research gap/research question in the three themes as well as five new themes, which can be a valuable addition for future studies. The author hopes that this study will further help future scholars to enhance the understanding of IPO in the area of management and entrepreneurship.\u0000","PeriodicalId":45060,"journal":{"name":"Qualitative Research in financial Markets","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2023-01-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47247561","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-27DOI: 10.1108/qrfm-02-2022-0031
Shaizy Khan, Seema Gupta
Purpose Owing to the worldwide outbreak of the SARS-CoV-2, social media conversations have increased. Given the increasing pressure from regulatory authorities and society, green accounting – as a dimension of sustainable development – remains the most discussed topic on most social media platforms. This study aims to incorporate a technological approach to green accounting and sustainability to enhance the innovation process inside and outside organizations. Design/methodology/approach This study uses the hermeneutic phenomenological technique to investigate Twitter content. Tweets were subjected to a manual coding process to analyze their content, including recent advancements, challenges, cross-country initiatives and promotion strategies in green accounting. Public perception of green accounting and the COP26 climate summit was also studied. Findings Tweeters view green accounting favorably; however, they are apprehensive about its implementation. Regarding the challenges in green accounting, “corporate green washing” was the most tweeted content. The UK was the top-rated nation with respect to green accounting development. Furthermore, the most discussed breakthrough was the application of artificial intelligence in the domain of green accounting functions. However, Twitter users were observed to have directed heavy criticism at the COP26 climate summit in Glasgow. Originality/value This study’s primary innovation is its integration of emerging technologies such as machine learning and data mining with social media platforms such as Twitter. Incorporating manual coding of tweets is a rigorous procedure that amplifies the strength of machine learning software’s auto-coding feature.
{"title":"Using a hermeneutic phenomenological approach to Twitter content: a social network’s analysis of green accounting as a dimension of sustainability","authors":"Shaizy Khan, Seema Gupta","doi":"10.1108/qrfm-02-2022-0031","DOIUrl":"https://doi.org/10.1108/qrfm-02-2022-0031","url":null,"abstract":"\u0000Purpose\u0000Owing to the worldwide outbreak of the SARS-CoV-2, social media conversations have increased. Given the increasing pressure from regulatory authorities and society, green accounting – as a dimension of sustainable development – remains the most discussed topic on most social media platforms. This study aims to incorporate a technological approach to green accounting and sustainability to enhance the innovation process inside and outside organizations.\u0000\u0000\u0000Design/methodology/approach\u0000This study uses the hermeneutic phenomenological technique to investigate Twitter content. Tweets were subjected to a manual coding process to analyze their content, including recent advancements, challenges, cross-country initiatives and promotion strategies in green accounting. Public perception of green accounting and the COP26 climate summit was also studied.\u0000\u0000\u0000Findings\u0000Tweeters view green accounting favorably; however, they are apprehensive about its implementation. Regarding the challenges in green accounting, “corporate green washing” was the most tweeted content. The UK was the top-rated nation with respect to green accounting development. Furthermore, the most discussed breakthrough was the application of artificial intelligence in the domain of green accounting functions. However, Twitter users were observed to have directed heavy criticism at the COP26 climate summit in Glasgow.\u0000\u0000\u0000Originality/value\u0000This study’s primary innovation is its integration of emerging technologies such as machine learning and data mining with social media platforms such as Twitter. Incorporating manual coding of tweets is a rigorous procedure that amplifies the strength of machine learning software’s auto-coding feature.\u0000","PeriodicalId":45060,"journal":{"name":"Qualitative Research in financial Markets","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2023-01-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47825240","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-25DOI: 10.1108/qrfm-03-2022-0039
J. Marx, Cecilia Jacoba de Swardt
Purpose The purpose of this research was first to determine the competencies mandatory of risk managers, and second, to consider the implications of such competencies in determining modules appropriate for inclusion in any prospective undergraduate qualification with specialisation in risk management. Design/methodology/approach A qualitative research approach was followed, involving academics teaching risk management in a focus group and making use of interactive qualitative analysis (IQA). Findings The competencies identified were business management skills, financial knowledge, an understanding of the risk management process, governance and compliance, people management and technical skills. These will be explained in greater detail in the paper. Research limitations/implications The implications for teaching are that an undergraduate curriculum in risk management will have to combine majors such as business management, financial management, risk management, industrial psychology and communication. These majors need to be complemented by modules in governance and compliance management, as well as information and communication technology. Practical implications The implication for practice is that risk management professionals and members of the Institute of Risk Management of South Africa need to avail themselves to serve on an advisory board of academic departments offering risk management qualifications. Risk management is a developing science and requires inputs about research and the curriculation of qualifications. Social implications The implication for public policy is that the South African Qualifications Authority and the Council for Higher Education should reconsider their requirements for designators (specialised qualifications). The implications for research are that IQA provides clarity on the knowledge and skills required to develop a competency-based qualification in risk management. Further research should benchmark qualifications and propose a curriculum for a bachelor’s degree in risk management. Originality/value The use of IQA is a novel way of ensuring rigour and objectivity in arriving at a description of the required knowledge, skills, values and attributes of risk managers. This paper will assist in the compilation of a new curriculum for an undergraduate qualification in risk management; thus, ensuring such qualification will provide a competency-based qualification that will meet the needs of the profession.
{"title":"An interactive qualitative analysis of academics’ views of a competency-based undergraduate qualification in risk management","authors":"J. Marx, Cecilia Jacoba de Swardt","doi":"10.1108/qrfm-03-2022-0039","DOIUrl":"https://doi.org/10.1108/qrfm-03-2022-0039","url":null,"abstract":"\u0000Purpose\u0000The purpose of this research was first to determine the competencies mandatory of risk managers, and second, to consider the implications of such competencies in determining modules appropriate for inclusion in any prospective undergraduate qualification with specialisation in risk management.\u0000\u0000\u0000Design/methodology/approach\u0000A qualitative research approach was followed, involving academics teaching risk management in a focus group and making use of interactive qualitative analysis (IQA).\u0000\u0000\u0000Findings\u0000The competencies identified were business management skills, financial knowledge, an understanding of the risk management process, governance and compliance, people management and technical skills. These will be explained in greater detail in the paper.\u0000\u0000\u0000Research limitations/implications\u0000The implications for teaching are that an undergraduate curriculum in risk management will have to combine majors such as business management, financial management, risk management, industrial psychology and communication. These majors need to be complemented by modules in governance and compliance management, as well as information and communication technology.\u0000\u0000\u0000Practical implications\u0000The implication for practice is that risk management professionals and members of the Institute of Risk Management of South Africa need to avail themselves to serve on an advisory board of academic departments offering risk management qualifications. Risk management is a developing science and requires inputs about research and the curriculation of qualifications.\u0000\u0000\u0000Social implications\u0000The implication for public policy is that the South African Qualifications Authority and the Council for Higher Education should reconsider their requirements for designators (specialised qualifications). The implications for research are that IQA provides clarity on the knowledge and skills required to develop a competency-based qualification in risk management. Further research should benchmark qualifications and propose a curriculum for a bachelor’s degree in risk management.\u0000\u0000\u0000Originality/value\u0000The use of IQA is a novel way of ensuring rigour and objectivity in arriving at a description of the required knowledge, skills, values and attributes of risk managers. This paper will assist in the compilation of a new curriculum for an undergraduate qualification in risk management; thus, ensuring such qualification will provide a competency-based qualification that will meet the needs of the profession.\u0000","PeriodicalId":45060,"journal":{"name":"Qualitative Research in financial Markets","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2023-01-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43452762","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-19DOI: 10.1108/qrfm-01-2022-0008
Ritesh Patel, Aaliyah Siddiqui
Purpose The purpose of this paper is to perform a meta-bibliometric analysis of the banking service quality and to provide various research streams. Another goal is to provide future research questions to explore these areas in more detail. Design/methodology/approach The authors used three major academic databases (Scopus, ProQuest and EBSCO) from 1980–2021 and found 226 papers, where they performed the meta-bibliometric analysis by performing co-citation analysis, co-authorship analysis, cartographic analysis and content analysis. Findings The SERVQUAL model is the most used conceptual framework and model to study banking service quality. Structural equation modeling (SEM), followed by partial least squares SEM, is a majorly used method. There are three research streams in the literature: retail banking service quality, internet banking service quality and mobile banking service quality. Retail banking is the most studied stream, whereas mobile banking is the least studied stream. The study on banking service quality was initially conducted in developed markets, and later in emerging markets. All three streams have scope for further exploration, and hence, 44 future research questions have also been proposed. Research limitations/implications This study has implications for bank managers, academicians and future researchers. Originality/value This study is unique in that it examines the meta-bibliometric dimensions of banking service quality and provides directions for future research for academicians and researchers.
{"title":"Banking service quality literature: a bibliometric review and future research agenda","authors":"Ritesh Patel, Aaliyah Siddiqui","doi":"10.1108/qrfm-01-2022-0008","DOIUrl":"https://doi.org/10.1108/qrfm-01-2022-0008","url":null,"abstract":"\u0000Purpose\u0000The purpose of this paper is to perform a meta-bibliometric analysis of the banking service quality and to provide various research streams. Another goal is to provide future research questions to explore these areas in more detail.\u0000\u0000\u0000Design/methodology/approach\u0000The authors used three major academic databases (Scopus, ProQuest and EBSCO) from 1980–2021 and found 226 papers, where they performed the meta-bibliometric analysis by performing co-citation analysis, co-authorship analysis, cartographic analysis and content analysis.\u0000\u0000\u0000Findings\u0000The SERVQUAL model is the most used conceptual framework and model to study banking service quality. Structural equation modeling (SEM), followed by partial least squares SEM, is a majorly used method. There are three research streams in the literature: retail banking service quality, internet banking service quality and mobile banking service quality. Retail banking is the most studied stream, whereas mobile banking is the least studied stream. The study on banking service quality was initially conducted in developed markets, and later in emerging markets. All three streams have scope for further exploration, and hence, 44 future research questions have also been proposed.\u0000\u0000\u0000Research limitations/implications\u0000This study has implications for bank managers, academicians and future researchers.\u0000\u0000\u0000Originality/value\u0000This study is unique in that it examines the meta-bibliometric dimensions of banking service quality and provides directions for future research for academicians and researchers.\u0000","PeriodicalId":45060,"journal":{"name":"Qualitative Research in financial Markets","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2023-01-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42736019","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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