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A bibliometric analysis of global research trends on CEO compensation: evidence from the Scopus database 全球CEO薪酬研究趋势的文献计量分析:来自Scopus数据库的证据
IF 5.2 Q2 BUSINESS Pub Date : 2023-11-28 DOI: 10.1108/emjb-02-2023-0050
Faraj Salman Alfawareh, Edie Erman Che Johari, Chai-Aun Ooi

Purpose

This study investigates the current trends in CEO compensation by applying a bibliometric technique from the Scopus database.

Design/methodology/approach

The bibliometric analysis examines CEO compensation trends through the Scopus database. Frequency analysis is conducted using Microsoft Excel, while data visualisation is performed using VOSviewer. Finally, citation metrics are carried out using Harzing's Publish or Perish.

Findings

The results reveal that research into CEO compensation has been consistently increasing since 1976. This study identifies the most popular publication trends, the most active institutions, the top funding institutions, annual publication growth, document and source type, publishers, subject area, author co-citations, highly cited articles, top publishing countries, and keyword co-occurrences. Notably, Arizona State University in the United States (US) is the leading institution with the most prominent publications on CEO compensation. The US is the most active country involved in CEO compensation research.

Research limitations/implications

The current research only derived articles from the Scopus database. Nonetheless, the findings provide an in-depth comprehension of the meaning of “CEO compensation” and present the outline of the research trends on the concept, thus significantly facilitating further studies.

Practical implications

The findings can assist researchers in comprehending and classifying the drivers of CEO compensation previously identified and proven in past studies. Additionally, the findings also create opportunities for new researchers to study CEO compensation.

Originality/value

This study is among the pioneering research investigating CEO compensation-related publications and utilising the Scopus database from an international perspective. This study also offers a historical view of CEO remuneration, a summary of the most significant nations, journals, and writers on the topic, and an outline of how CEO remuneration studies have changed over time. These contributions will enable other researchers to focus on this subject.

目的利用Scopus数据库中的文献计量学方法,研究CEO薪酬的现状。设计/方法/方法文献计量分析通过Scopus数据库检查CEO薪酬趋势。使用Microsoft Excel进行频率分析,使用VOSviewer进行数据可视化。最后,引用指标是使用哈zing的“发表或消亡”进行的。研究结果显示,自1976年以来,对CEO薪酬的研究一直在持续增长。该研究确定了最受欢迎的出版趋势、最活跃的机构、顶级资助机构、年度出版增长、文献和来源类型、出版商、主题领域、作者共引、高被引文章、顶级出版国家和关键词共现情况。值得注意的是,美国亚利桑那州立大学(US)在CEO薪酬方面的出版物最为突出。美国是参与CEO薪酬研究最活跃的国家。研究局限性/启示:目前的研究仅来源于Scopus数据库中的文章。尽管如此,研究结果对“CEO薪酬”的含义进行了深入的理解,并概述了该概念的研究趋势,从而为进一步的研究提供了重要的帮助。实践意义研究结果可以帮助研究者理解和分类在过去的研究中发现和证明的CEO薪酬驱动因素。此外,这些发现还为新的研究人员研究CEO薪酬创造了机会。原创性/价值本研究是从国际视角调查CEO薪酬相关出版物并利用Scopus数据库的开创性研究之一。本研究还提供了CEO薪酬的历史观点,总结了有关该主题的最重要的国家、期刊和作家,并概述了CEO薪酬研究如何随着时间的推移而变化。这些贡献将使其他研究人员能够关注这一主题。
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引用次数: 0
Digital transformation in tourism and hospitality industry: a literature review of blockchain, financial technology, and knowledge management 旅游和酒店业的数字化转型:关于区块链、金融技术和知识管理的文献综述
IF 5.2 Q2 BUSINESS Pub Date : 2023-11-27 DOI: 10.1108/emjb-04-2023-0118
Silvia Ratna, Saide Saide, Afifah Mesha Putri, Richardus Eko Indrajit, Didi Muwardi

Purpose

This study aims to provide a new overview and opportunities of blockchain (BCT), financial technology (fintech) and knowledge management (KM) over the past ten years. Its focus is on their potential to drive new value creation and innovation processes within the digital landscape of the tourism and hospitality.

Design/methodology/approach

This systematic literature review and sociotechnical approach employs a literature analysis, analyzing and synthesizing 62 relevant articles published in the past decade form e-databases (Web of Science and Scopus).

Findings

This study reveals that researchers frequently discuss the potential advantages and challenges of BCT, fintech and KM in this industry. These include establishing systems that prioritize transparency and traceability, addressing blockchain security concerns, enhancing financial transaction efficiency and trustworthiness, and promoting innovation and improvement through KM strategies. Furthermore, this review suggests that the application of blockchain, fintech and KM has the potential to create new markets and opportunities in the tourism and hospitality industry. This study provides insights into the state and implementation of technology-based and knowledge-based for tourism and hospitality in times of crisis and digitization era.

Practical implications

Shifting to new lens (refers to sociotechnical theory), from technology adoption strategy, it is important to stay updated with emerging technologies such as BCT and fintech and upcoming technologies trends must align with tourism and hospitality business objectives, customer expectations and market demands. From the socio-dimension, KM is not confined to technological tools alone. Instead, it is a strategic approach that emphasizes fostering a culture of open communication, collaboration and knowledge sharing within the team of tourism and hospitality industry.

Originality/value

Through a literature review approach, this study establishes a new foundation in tourism and hospitality such as analyzing research gaps, understanding benefits and challenges, supporting methodologies/theoretical frameworks and informing the future research opportunities. Additionally, a novel contribution is the inclusion of sociotechnical approach that is allocated into socio or knowledge resources perspective (knowledge management), and technical or technology perspective (blockchain and fintech) that drives tourism and hospitality innovation.

本研究旨在为区块链(BCT)、金融科技(fintech)和知识管理(KM)在过去十年中的发展提供一个新的概述和机遇。它的重点是他们在旅游和酒店业的数字景观中推动新的价值创造和创新过程的潜力。设计/方法/方法:这种系统的文献综述和社会技术方法采用文献分析,分析和综合了过去十年在电子数据库(Web of Science和Scopus)中发表的62篇相关文章。本研究显示,研究人员经常讨论BCT、金融科技和知识管理在该行业的潜在优势和挑战。其中包括建立优先考虑透明度和可追溯性的系统,解决区块链安全问题,提高金融交易效率和可信度,以及通过知识管理战略促进创新和改进。此外,这篇综述表明,区块链、金融科技和知识管理的应用有可能在旅游和酒店业创造新的市场和机会。本研究对危机时代和数字化时代旅游酒店业的技术型和知识型的现状和实施提供了深刻的见解。从技术采用战略转向新的视角(指社会技术理论),重要的是要跟上新兴技术,如BCT和金融科技,即将到来的技术趋势必须与旅游和酒店业务目标、客户期望和市场需求保持一致。从社会维度来看,知识管理并不仅仅局限于技术工具。相反,它是一种战略方法,强调在旅游和酒店业的团队中培养开放的沟通、协作和知识共享的文化。原创性/价值通过文献回顾的方法,本研究建立了一个新的基础在旅游和酒店,如分析研究差距,了解利益和挑战,支持方法/理论框架,并告知未来的研究机会。此外,一个新颖的贡献是纳入社会技术方法,分配到社会或知识资源视角(知识管理)和技术或技术视角(区块链和金融科技),推动旅游和酒店创新。
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引用次数: 0
Develop an integrated candlestick technical analysis model using meta-heuristic algorithms 使用元启发式算法开发集成烛台技术分析模型
IF 5.2 Q2 BUSINESS Pub Date : 2023-11-21 DOI: 10.1108/emjb-02-2022-0034
Armin Mahmoodi, Leila Hashemi, Milad Jasemi

Purpose

In this study, the central objective is to foresee stock market signals with the use of a proper structure to achieve the highest accuracy possible. For this purpose, three hybrid models have been developed for the stock markets which are a combination of support vector machine (SVM) with meta-heuristic algorithms of particle swarm optimization (PSO), imperialist competition algorithm (ICA) and genetic algorithm (GA).All the analyses are technical and are based on the Japanese candlestick model.

Design/methodology/approach

Further as per the results achieved, the most suitable algorithm is chosen to anticipate sell and buy signals. Moreover, the authors have compared the results of the designed model validations in this study with basic models in three articles conducted in the past years. Therefore, SVM is examined by PSO. It is used as a classification agent to search the problem-solving space precisely and at a faster pace. With regards to the second model, SVM and ICA are tested to stock market timing, in a way that ICA is used as an optimization agent for the SVM parameters. At last, in the third model, SVM and GA are studied, where GA acts as an optimizer and feature selection agent.

Findings

As per the results, it is observed that all new models can predict accurately for only 6 days; however, in comparison with the confusion matrix results, it is observed that the SVM-GA and SVM-ICA models have correctly predicted more sell signals, and the SCM-PSO model has correctly predicted more buy signals. However, SVM-ICA has shown better performance than other models considering executing the implemented models.

Research limitations/implications

In this study, the data for stock market of the years 2013–2021 were analyzed; the long length of timeframe makes the input data analysis challenging as they must be moderated with respect to the conditions where they have been changed.

Originality/value

In this study, two methods have been developed in a candlestick model; they are raw-based and signal-based approaches in which the hit rate is determined by the percentage of correct evaluations of the stock market for a 16-day period.

在本研究中,中心目标是使用适当的结构来预测股票市场信号,以达到尽可能高的准确性。为此,本文开发了三种股票市场混合模型,即支持向量机(SVM)与粒子群优化(PSO)、帝国主义竞争算法(ICA)和遗传算法(GA)的组合。所有的分析都是技术性的,基于日本烛台模型。设计/方法/方法进一步根据所取得的结果,选择最合适的算法来预测卖出和买入信号。此外,作者还将本研究设计的模型验证结果与过去三篇文章的基本模型进行了比较。因此,SVM采用粒子群算法进行检验。它被用作分类代理,以更快的速度精确地搜索问题空间。对于第二个模型,对SVM和ICA进行股市时机测试,其中ICA作为SVM参数的优化代理。最后,在第三个模型中,研究了支持向量机和遗传算法,其中遗传算法作为优化器和特征选择代理。结果表明,所有新模型只能准确预测6天;然而,与混淆矩阵结果相比,我们发现SVM-GA和SVM-ICA模型正确预测了更多的卖出信号,而SCM-PSO模型正确预测了更多的买入信号。然而,考虑到执行已实现的模型,SVM-ICA表现出比其他模型更好的性能。本研究对2013-2021年的股票市场数据进行了分析;较长的时间框架使得输入数据分析具有挑战性,因为它们必须根据已更改的条件进行调节。在本研究中,在烛台模型中开发了两种方法;它们是基于原始和基于信号的方法,其中命中率由16天期间对股票市场的正确评估的百分比决定。
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引用次数: 1
Does prior trust work as a buffer? Examining the impact of perceived betrayal on customer responses to a double deviation 先前的信任是否起到缓冲作用?考察感知背叛对客户对双重偏差反应的影响
Q2 BUSINESS Pub Date : 2023-11-14 DOI: 10.1108/emjb-01-2023-0032
Azza Temessek Behi, Norchene Ben Dahmane Mouelhi, Walid Chaouali
Purpose This study aims to explain customer reactions to a double deviation by examining the moderating role of prior trust in peer-to-peer (P2P) accommodation platforms on the relationship between perceived betrayal and negative outcomes such as negative word-of-mouth (NWOM), vindictive complaining and patronage reduction. Design/methodology/approach An online survey was used to obtain a sample of 246 respondents familiar with P2P accommodation platforms. The model was tested using SmartPLS. Findings The results showed a positive correlation between perceived betrayal and NWOM, vindictive complaining and patronage reduction. Unexpectedly, prior trust had positive moderating effects. High levels of prior trust caused more negative customer reactions than low levels of prior trust. Practical implications The findings of this study caution firms about the potential risks to rely on the forgiveness and tolerance of highly trusted customers who may retaliate fiercely to double deviations. Originality/value This research unveils the prior trust paradox. Customers' prior trust magnified the negative impact of double-deviation experiences. This study contributes to the service-recovery literature by questioning the buffer effect of prior trust in the context of a double deviation.
本研究旨在通过考察P2P住宿平台的先验信任对感知背叛与负面结果(负面口碑、报复性投诉和惠惠者减少)之间关系的调节作用,解释消费者对双重偏离的反应。设计/方法/方法采用在线调查的方式获取了246名熟悉P2P住宿平台的受访者的样本。使用SmartPLS对模型进行检验。结果表明,感知背叛与NWOM、报复性抱怨和赞助减少呈正相关。出乎意料的是,先前信任具有正向调节作用。高水平的先前信任比低水平的先前信任引起更多的负面顾客反应。实际意义本研究的发现提醒公司,依赖高度信任的客户的宽恕和宽容可能会带来潜在风险,这些客户可能会对双重偏差进行猛烈的报复。原创性/价值本研究揭示了先验信任悖论。顾客的先验信任放大了双偏差体验的负面影响。本研究通过质疑双重偏差背景下先验信任的缓冲作用,对服务恢复文献有所贡献。
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引用次数: 0
An integrated model predicting the drivers of mobile payment outcomes: evidence from emerging markets 预测移动支付结果驱动因素的综合模型:来自新兴市场的证据
Q2 BUSINESS Pub Date : 2023-11-07 DOI: 10.1108/emjb-02-2023-0046
Mohamed M. Elsotouhy, Abdelkader M.A. Mobarak, Mona I. Dakrory, Mohamed A. Ghonim, Mohamed A. Khashan
Purpose Because the success of m-payment services depends on the enablers and barriers that affect user satisfaction, the present research explores the effects of perceived value and sacrifices on users' satisfaction with m-payment services. The predicted relationships among perceived value, perceived sacrifices, users' satisfaction, continuance intention, word-of-mouth (WOM), shopping effectiveness, quality of life (QOL) and stickiness were established based on the mobile technology acceptance model (MTAM) and the value-based adoption model (VAM). Design/methodology/approach A representative data sample of 430 Egyptian banking clients was analyzed to test the hypotheses using partial least squares-structural equation modeling (PLS-SEM). Findings The findings revealed that all perceived value constructs significantly positively affect users' satisfaction. Moreover, all perceived sacrifice constructs significantly negatively affect users' satisfaction. Users' satisfaction, in turn, has a significant positive effect on continuance intention, WOM, shopping effectiveness, QOL and stickiness with m-payment services. Originality/value This is the first study to examine several levels of m-payment outcomes, including m-payment, consumer and bank outcomes, based on the integration of MTAM and VAM models.
由于移动支付服务的成功取决于影响用户满意度的因素和障碍,本研究探讨了感知价值和牺牲对移动支付服务用户满意度的影响。基于移动技术接受模型(MTAM)和基于价值的采用模型(VAM)建立感知价值、感知牺牲、用户满意度、延续意愿、口碑、购物效果、生活质量和粘性之间的预测关系。设计/方法/方法对430个埃及银行客户的代表性数据样本进行分析,使用偏最小二乘结构方程模型(PLS-SEM)来检验假设。研究结果显示,所有感知价值建构对使用者满意度有显著的正向影响。此外,所有感知牺牲结构对用户满意度都有显著的负向影响。用户满意度对移动支付服务的延续意愿、口碑、购物效果、生活质量和粘性有显著的正向影响。这是第一个基于MTAM和VAM模型的整合,研究移动支付结果的几个层次,包括移动支付、消费者和银行结果的研究。
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引用次数: 0
The moderating effect of fintech on the relationship between CSR and banks' financial stability: Baron and Kenny's approach analysis 金融科技对企业社会责任与银行财务稳定性关系的调节作用:Baron和Kenny的方法分析
Q2 BUSINESS Pub Date : 2023-10-24 DOI: 10.1108/emjb-03-2023-0082
Ines Ben Salah Mahdi, Mariem Bouaziz, Mouna Boujelbène Abbes
Purpose Corporate social responsibility (CSR) and fintech have emerged as critical megatrends in the banking industry. This study aims to examine the impact of financial technology on the relationship between CSR and banks' financial stability. Specifically, it investigates the moderating effect of fintech on the association between CSR and the financial stability of conventional banks operating in Qatar, UAE, Saudi Arabia, Kuwait, Bahrain, Jordan, Pakistan and Turkey from 2010 to 2021. Design/methodology/approach To achieve the authors’ objective, the authors apply Baron and Kenny's three-link model, tested with fixed and random effects regression models. Findings The results reveal that the development of fintech decreases banks' financial stability, whereas it promotes banks' involvement in CSR strategies. Furthermore, the findings indicate that fintech plays a moderating role in the relationship between CSR and financial stability. It positively moderates the impact of CSR on financial stability. The robustness analysis highlights the mutual reinforcement of fintech and CSR dimensions in improving the financial stability of banks. Thus, by fostering community and product responsibility, fintech could enhance the financial stability of banks. Practical implications Finally, the authors recommend that banks focus more on developing technological and environmentally friendly financial products. Originality/value This study contributes significantly by providing valuable insights for managers and policymakers seeking to improve banks' financial stability through the simultaneous adoption of new financial technology products and the strong commitment to CSR practices.
企业社会责任(CSR)和金融科技已经成为银行业的关键大趋势。本研究旨在检验金融科技对企业社会责任与银行财务稳定关系的影响。具体而言,它研究了金融科技对2010年至2021年在卡塔尔、阿联酋、沙特阿拉伯、科威特、巴林、约旦、巴基斯坦和土耳其经营的传统银行的企业社会责任与金融稳定之间的关系的调节作用。为了实现作者的目标,作者采用了Baron和Kenny的三链接模型,并使用固定效应和随机效应回归模型进行了测试。研究发现,金融科技的发展降低了银行的财务稳定性,但却促进了银行参与企业社会责任战略。此外,研究结果表明,金融科技在企业社会责任与金融稳定之间的关系中起调节作用。正向调节企业社会责任对金融稳定的影响。鲁棒性分析强调了金融科技和企业社会责任维度在提高银行财务稳定性方面的相互强化作用。因此,通过培养社区和产品责任,金融科技可以增强银行的金融稳定性。最后,作者建议银行更多地关注开发技术和环境友好型金融产品。独创性/价值本研究为管理者和政策制定者提供了有价值的见解,这些管理者和政策制定者试图通过同时采用新的金融科技产品和对企业社会责任实践的坚定承诺来改善银行的财务稳定性。
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引用次数: 0
Nature-love and sustainable consumption behaviors: does the construal level of psychological distance matter? 热爱自然与可持续消费行为:心理距离的解释水平是否重要?
Q2 BUSINESS Pub Date : 2023-10-20 DOI: 10.1108/emjb-03-2023-0091
Mohamed M. Elsotouhy, Mohamed A. Ghonim, Nada Khalifa, Mohamed A. Khashan
Purpose Despite the importance of emotional variables in shaping individuals' consumption behavior, nature-love still needs to be addressed concerning various aspects of sustainable consumption behavior (SCB). Considering the dimensions of nature-love, this study aims to investigate the effect of passion-for-nature, intimacy-with-nature and commitment-to-nature on SCB. Furthermore, this study aims to incorporate the construal levels of psychological distance (PD) as a moderating variable between the tested variables to add a more in-depth understanding. Design/methodology/approach Data was collected from a sample of 311 individuals from Egypt using the snowball sampling method and the ten-time rule technique. The data was analyzed using partial least squares-structural equation modeling (PLS-SEM). Findings The findings indicate that passion-for-nature and intimacy-with-nature have a significant positive effect on green purchasing, reusability and recycling. On the other hand, commitment-to-nature has a significant positive effect on both green purchasing and reusability. Additionally, a high PD acts as a moderator between the relationships tested. The findings have been discussed in terms of their theoretical and practical implications. Originality/value To the best of the authors’ knowledge, this is the first study to integrate PD as a moderator between the relationships tested. Additionally, this paper is the first empirical research investigating these relationships in developing economies.
尽管情感变量在塑造个体消费行为中具有重要意义,但在可持续消费行为的各个方面,自然热爱仍然需要得到解决。本研究从热爱自然的维度出发,探讨热爱自然、亲近自然和承诺自然对幸福感的影响。此外,本研究旨在将心理距离的解释水平作为被测变量之间的调节变量,以增加更深入的理解。设计/方法/方法使用滚雪球抽样法和十次规则技术从埃及的311个人样本中收集数据。采用偏最小二乘-结构方程模型(PLS-SEM)对数据进行分析。研究发现,热爱自然和亲近自然对绿色采购、再利用和再循环有显著的正向影响。另一方面,对自然的承诺对绿色购买和可重复使用都有显著的积极影响。此外,高PD在被测关系之间起到调节作用。这些发现已经在理论和实践意义方面进行了讨论。据作者所知,这是第一个将PD作为被测关系之间的调节因素的研究。此外,本文是第一个在发展中经济体中调查这些关系的实证研究。
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引用次数: 0
The moderating role of tax avoidance on CSR and stock price volatility for oil and gas firms 避税对油气企业社会责任和股价波动的调节作用
Q2 BUSINESS Pub Date : 2023-10-10 DOI: 10.1108/emjb-12-2022-0215
Ones Amri, Hasna Chaibi
Purpose This study examines the impact of CSR (corporate social responsibility) on stock price volatility of oil and gas firms and, then identifies the moderating role of tax avoidance. Design/methodology/approach To achieve the study's purposes, 330 observations are extracted from 30 oil and gas firms for the period between 2010 and 2020, and the estimation method of the Generalized Least Squares (GLS) is used. Actually, the CSR is proxied using the ESG (environmental, social, and governance) score, and the stock price volatility is measured by the degree of stock price variations over 12 months, according to the last 52 week's price. Findings The main findings indicate that CSR negatively impacts the stock price volatility. Nonetheless, this negative relationship is moderated positively by tax avoidance. This result is robust to the variation in the measure of volatility, namely the systematic risk. Practical implications This research is helpful for investors to manage their portfolio risk as this article highlights the importance of engaging in sustainable development to reduce financial risk. This study also helps regulators and policymakers, such as environmental agencies and tax authorities, to reassess their control with oil and gas firms and record them according to their CSR practices, because this article emphasizes that it is not fair to pay taxes and engage in CSR practices at the same time. Originality/value The impact of CSR on stock price volatility is widely treated for firms. Nevertheless, the mechanisms that may affect this relationship are still seldom discussed. This study attempts to examine the impact of tax avoidance on the CSR–stock price volatility relationship for the oil and gas industry.
本研究考察了企业社会责任对油气公司股价波动的影响,并确定了避税的调节作用。为了实现研究目的,从2010年至2020年期间从30家石油和天然气公司提取了330个观测值,并使用了广义最小二乘法(GLS)的估计方法。实际上,企业社会责任是用ESG(环境、社会和治理)评分来衡量的,而股价波动是用过去52周的股价在12个月内的波动程度来衡量的。研究发现,企业社会责任对股价波动有负向影响。尽管如此,这种负向关系被避税正向调节。该结果对波动率的变化,即系统风险的变化具有鲁棒性。本文强调了可持续发展对降低金融风险的重要性,对投资者管理投资组合风险有一定的帮助。本研究还有助于监管机构和政策制定者(如环境机构和税务机关)重新评估其对油气公司的控制,并根据其企业社会责任实践进行记录,因为本文强调同时纳税和从事企业社会责任实践是不公平的。企业社会责任对股价波动的影响被广泛地研究。然而,可能影响这种关系的机制仍然很少被讨论。本研究试图检验避税对油气行业csr -股价波动关系的影响。
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引用次数: 0
The impact of supervision on bank risk: empirical evidence from the Tunisian context 监管对银行风险的影响:来自突尼斯背景的经验证据
Q2 BUSINESS Pub Date : 2023-09-29 DOI: 10.1108/emjb-01-2023-0006
Sana Belgacem, Manel Hadriche, Fethi Belhaj
Purpose The purpose of this paper is to examine the impact of supervision on banking risk to determine whether prudential measures taken especially after financial crises are effective in limiting banking risks. Design/methodology/approach The empirical study focused on 210 annual reports of almost all Tunisian banks during the 2010–2019 period. Banking supervision effectiveness is measured by enforcement outputs (i.e. on-site audits and sanctions). The generalized least squares method of multivariate analysis was used to analyze this study. Findings The results show that supervision set up and on-site audits reduce bank risk, while the relationship between sanctions and risk appears to be non-significant. The results still hold after robustness tests by changing the bank's risk-taking indicators. Practical implications This study has important implications for managers and investors in the Tunisian context. In particular, the findings provide microevidence for the impact of supervision in Tunisian banks to reduce their risk-taking. The empirical results have important implications for the decision-making of bank managers and regulators in Tunisia as well as for relevant actors in similar emerging economies. Originality/value This study extends the previous literature on supervision by examining the relationship between supervision and banking risk in an emerging country, which has been little explored, Tunisia in particular. Furthermore, this study examines whether supervision reduces risk borne by Tunisian banks, and to the best of the researchers' knowledge, it is one of the pioneering studies of supervision in the Tunisian market. This latter market has different economic, political and social attributes compared to developed countries. So, this paper helps to clarify the impact of supervision enforcement and macroprudential policies. In addition, this paper strongly contributes to the various stakeholders “understanding of the importance and implication of supervision practices. However, since banks tend not to reduce their participation in risky activities to seek higher profits, supervisory policymakers and practitioners should also take a closer look at the composition of banks” investment portfolios to reduce moral hazard and regulatory arbitrage behavior. Empirically, the authors measure supervision by on-site audits and sanctions and examine how they affect bank risk level, which was never approached in Tunisia.
本文的目的是检验监管对银行风险的影响,以确定特别是在金融危机后采取的审慎措施是否有效地限制了银行风险。该实证研究侧重于2010-2019年期间几乎所有突尼斯银行的210份年度报告。银行监管的有效性是通过执行产出(即现场审计和制裁)来衡量的。采用多元分析的广义最小二乘法对本研究进行分析。结果表明,监管设置和现场审计降低了银行风险,而制裁与风险之间的关系不显著。在通过改变银行的风险承担指标进行稳健性测试后,结果仍然成立。本研究对突尼斯的管理者和投资者具有重要意义。特别是,研究结果为突尼斯银行监管对减少其冒险行为的影响提供了微观证据。实证结果对突尼斯银行经理和监管机构的决策以及类似新兴经济体的相关行为者具有重要意义。本研究通过考察一个新兴国家(尤其是突尼斯)的监管与银行风险之间的关系,扩展了之前关于监管的文献。此外,本研究考察了监管是否降低了突尼斯银行承担的风险,据研究人员所知,这是突尼斯市场监管的开创性研究之一。与发达国家相比,后者的市场具有不同的经济、政治和社会属性。因此,本文有助于厘清监管执法和宏观审慎政策的影响。此外,本文还有助于各利益相关者理解监督实践的重要性和含义。然而,由于银行往往不会为了追求更高的利润而减少对风险活动的参与,监管政策制定者和从业者也应该密切关注银行投资组合的构成,以减少道德风险和监管套利行为。从经验上看,作者通过现场审计和制裁来衡量监管,并研究了它们如何影响银行风险水平,这在突尼斯从未接触过。
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引用次数: 0
Oil price fluctuations and economic growth–banking sector nexus: modeling for MENA countries 石油价格波动与经济增长-银行部门关系:中东和北非国家的模型
Q2 BUSINESS Pub Date : 2023-09-27 DOI: 10.1108/emjb-03-2023-0079
Samir Belkhaoui
Purpose The aim of this paper is to evaluate empirically the impact of oil price fluctuations on the relationship between banking sector development and economic growth in oil-importing MENA countries. Design/methodology/approach The study used the newly developed panel autoregressive distributed lagged (ARDL) approach in order to address any potential endogeneity between research variables. Findings The empirical results show a unidirectional causality in the long run from oil price to both economic growth and banking sector development for oil-importing countries. Also, banking sector development not only leads directly to economic growth but also can play a moderator role in the oil price—economic growth nexus. Research limitations/implications The study has two principal limitations. On the one hand, this study was conducted in a relatively limited sample of countries. On the other hand, the study did not consider others indicators for banking sector development and others macroeconomic variables. Practical implications The results found have imperative implications for banks' managers, regulators and researchers. Bank managers should be more concerned with the negative repercussions of oil price fluctuations on the development of their banks. The regulatory authorities must emphasize policies and strategies to further strengthen their banking sector in order to alleviate the negative influence of oil price shocks on economic growth. Researchers focused on finance-growth nexus must take into account the potential influence of oil price shocks. Originality/value The developed conceptual model allows examining to what extent the oil price fluctuations might affect the relationship between economic growth and banking sector development. This effect is neither evaluated nor clarified in the relevant literature.
本文的目的是实证评估石油价格波动对中东和北非石油进口国银行部门发展与经济增长之间关系的影响。设计/方法/方法本研究使用了新开发的面板自回归分布滞后(ARDL)方法,以解决研究变量之间潜在的内生性。研究结果表明,从长期来看,石油价格对石油进口国经济增长和银行业发展都存在单向因果关系。此外,银行业的发展不仅直接导致经济增长,而且可以在油价-经济增长关系中发挥调节作用。研究的局限性/意义这项研究有两个主要的局限性。一方面,这项研究是在相对有限的国家样本中进行的。另一方面,这项研究没有考虑银行业发展的其他指标和其他宏观经济变量。研究结果对银行管理者、监管机构和研究人员具有重要意义。银行管理者应该更加关注油价波动对银行发展的负面影响。监管当局必须强调进一步加强其银行部门的政策和战略,以减轻油价冲击对经济增长的负面影响。关注金融与增长关系的研究人员必须考虑油价冲击的潜在影响。原创性/价值已开发的概念模型可以检验油价波动可能在多大程度上影响经济增长与银行业发展之间的关系。在相关文献中,这种影响既没有得到评估,也没有得到澄清。
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引用次数: 0
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EuroMed Journal of Business
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