Thunderbird International Business Review最新文献

Blockchain is a technology that combines a set of properties to guarantee network security, transparency, and visibility, including a decentralized structure, distributed notes and storage mechanism, consensus algorithm, intelligent contracts, and asymmetric encryption. Supply chain management activities, including supply chain management provenance, business process reengineering, and security enhancement, have enormous potential to be transformed by blockchain. This research uses the integrated interpretive structural modeling–cross-impact matrix multiplication applied to classification (ISM-MICMAC) technique to ascertain the hierarchical relationships and to comprehend the severity of interrelationships among various components in tackling our research questions. In MICMAC analysis, the enablers were classified into four categories based on their dependence and driving powers. The combined ISM-MICMAC methodology employed for this study relies on experts’ individual evaluations and subjective assessments. Therefore, even with extreme caution, it is impossible to guarantee that the results are entirely devoid of personal biases. To further validate the linkages discovered in this study, we suggest employing more multiple-criteria decision-making (MCDM) methodologies and comparing the results with those of our research. Another method for confirming the results of the current study is to use an empirical research design based on survey methods.

The growth of FinTech has increasingly attracted the attention of financial industry players. The speed and complexity with which new financial technologies have spread around the world have created regulatory challenges for the United States and Canadian authorities. Unlike the United States, where there is regulatory fragmentation and a supervisory instrument with regulatory relief, Canada has a more integrated regulatory approach managed by regulatory sandbox principles. The aim of this article is to study and compare the impact of FinTech adoption on commercial banks over the 2018–2023 period in the United States and Canadian FinTech ecosystems. The results essentially show that FinTech has a positive impact on commercial banks' performance and financial growth, and a negative impact on liquidity and financial risk. Our results present several contributions and mainly show that: (1) In the presence of multiple entry channels for FinTech startups, the impact of FinTech on financial performance is higher in the United States than in Canada. (2) Because of its regulatory approach, Canada lags behind the United States in the adoption rate of financial technologies. (3) Balance of power in the financial sector induces commercial banks not to consider FinTech startups as threats but rather as partners that offer opportunities for expertise and reduced regulatory costs. Finally, FinTech can be disruptive and presents many challenges for regulators given the complexity and speed of innovation it promotes.

Despite being exceptionally regulated financial institutions, risk management practices (RMPs) of Islamic banking (IBs) have always remained under the limelight due to their impact on financial performance (FP) and the influence of digitalization (DT). This study aims to investigate the impact of RMPs on FP through the mediating effect of DT. To analyze the linkage between these constructs, we created an index for RMPs, five unique proxies (mobile [MB_DEA], big data [BD_DEA], Internet of Things [IoT], cloud computing [CC_DEA], and social media [SM_DEA]) of DT, and Tobin's Q as a proxy of FP and operationalized the theory of contingency. The data between 2009 and 2020 was collected from Indonesian and Malaysian IBs and was analyzed using the two-step generalized method of moments (GMMs) technique. The empirical findings represent that RMPs and DT have a significant positive effect on FP. Simultaneously, RMPs have a significant positive effect on two proxies of DT (MB_DEA and SM_DEA), and an insignificant positive effect on the remaining three proxies of DT (BD_DEA, IoT_DEA, and CC_DEA). Simultaneously, DT as a mediator plays a significant role between RMPs and FP. This study contributes to systematizing the RMPs of IBs by integrating digitalization which eventually will increase the financial portfolios of IBs.

The International Financial Reporting Standards (IFRS) is a set of global accounting standards that tries to provide truer and fairer accounting figures by recommending more realistic measurement and recognition criteria, increasing the disclosure of relevant information, and increasing the comparability of financial statements across borders. Most of the literature on IFRS adoption addresses its impact on the value relevance of accounting figures but ignores the wider picture in terms of impact on stock market performance. The few studies that address IFRS adoption and stock market performance focus on advanced economies and lack proper theoretical underpinning. This study addresses the impact of IFRS adoption on stock market performance in Sub-Saharan Africa. The study applied the autoregressive distributed lag model to test the research hypotheses. The Johannesburg, Nigerian, and Nairobi stock exchanges were selected as the sample markets because they constitute the major frontier markets for foreign investors wishing to penetrate the Sub-Saharan African market. The sample period was from 1990 to 2020. The results of the study showed that IFRS adoption had a positive and significant impact on market efficiency and size for all the selected countries. IFRS adoption had a positive and significant impact on market liquidity in Kenya only. The study recommends that IFRS adopters should implement stock market policies that encourage the participation of foreign investors following the increase in financial statements comparability brought about by IFRS adoption.

The COVID-19 pandemic has created many challenges for the modern and interconnected world we live in. Global supply chains (GSCs), which until this outbreak, had shown a certain level of responsiveness and reliability in responding to disruptions, were subject to a great test of their resilience. Adopting a qualitative research approach and carrying out in-depth interviews with several different companies, it is shown that COVID-19 has caused substantial harm to a variety of industries worldwide, compromising all nodes of their supply chain, from raw material assurance to the delivery of finished goods to consumers. Consequently, the disruption propagation was both from upstream and downstream of the value chain. The results also revealed some mitigation measures adopted and the intention to implement future ones to deal with consequences of potential future disruptions. Aiming to investigate if the pandemic crisis was intensifying deglobalization trends, the study also researched the relationship between supply chain disruptions and their impact on global trade. The analysis pointed to a deacceleration of international trade during the first months of the disease, mainly due to the closure of borders, but after this period, global dynamics started to be re-established, suggesting that there is not an intensification of deglobalization trends. The study is considered relevant to the literature, as it brings more evidence and diversified viewpoints from various interviewees and industries in a recovering phase of COVID-19 impacts, as well as to GSCs' decision-makers since it brings about some managerial insights to better navigate through crises.

The United Nations SDG 2030 emphasizes the critical role of the healthcare sector in achieving universal health coverage and addressing global health challenges. The COVID-19 pandemic triggered significant changes in the industry. This study looks at the distinct ESG challenges and opportunities that healthcare companies face in emerging markets like India versus developed markets. It assesses the effect of COVID-19 on the ESG-FP relationships of Indian healthcare firms. Using dynamic panel data analysis on 2205 firm-level observations from 2017 to 2022, researchers discovered a lag effect of ESG measures on accounting metrics. While COVID-19 temporarily increased FP, its long-term effect was negligible. It offers empirical evidence on the effectiveness of ESG reporting and provides methodological advancements for robust measurement and analysis. Environmental and governance pillars have a greater influence on healthcare companies' FP-directing managerial priorities. The study provides actionable recommendations for improving ESG practices in emerging markets like India.