Pub Date : 2023-06-05DOI: 10.1108/jefas-09-2021-0193
Elias Shohei Kamimura, Anderson Rogério Faia Pinto, M. S. Nagano
PurposeThis paper aims to present a literature review of the most recent optimisation methods applied to Credit Scoring Models (CSMs).Design/methodology/approachThe research methodology employed technical procedures based on bibliographic and exploratory analyses. A traditional investigation was carried out using the Scopus, ScienceDirect and Web of Science databases. The papers selection and classification took place in three steps considering only studies in English language and published in electronic journals (from 2008 to 2022). The investigation led up to the selection of 46 publications (10 presenting literature reviews and 36 proposing CSMs).FindingsThe findings showed that CSMs are usually formulated using Financial Analysis, Machine Learning, Statistical Techniques, Operational Research and Data Mining Algorithms. The main databases used by the researchers were banks and the University of California, Irvine. The analyses identified 48 methods used by CSMs, the main ones being: Logistic Regression (13%), Naive Bayes (10%) and Artificial Neural Networks (7%). The authors conclude that advances in credit score studies will require new hybrid approaches capable of integrating Big Data and Deep Learning algorithms into CSMs. These algorithms should have practical issues considered consider practical issues for improving the level of adaptation and performance demanded for the CSMs.Practical implicationsThe results of this study might provide considerable practical implications for the application of CSMs. As it was aimed to demonstrate the application of optimisation methods, it is highly considerable that legal and ethical issues should be better adapted to CSMs. It is also suggested improvement of studies focused on micro and small companies for sales in instalment plans and commercial credit through the improvement or new CSMs.Originality/valueThe economic reality surrounding credit granting has made risk management a complex decision-making issue increasingly supported by CSMs. Therefore, this paper satisfies an important gap in the literature to present an analysis of recent advances in optimisation methods applied to CSMs. The main contribution of this paper consists of presenting the evolution of the state of the art and future trends in studies aimed at proposing better CSMs.
目的本文旨在介绍最新的优化方法应用于信用评分模型(csm)的文献综述。设计/方法/方法研究方法采用了基于文献和探索性分析的技术程序。使用Scopus、ScienceDirect和Web of Science数据库进行传统调查。论文的选择和分类分三步进行，仅考虑英语研究和发表在电子期刊上(从2008年到2022年)。该调查最终选择了46份出版物(10份文献综述，36份建议csm)。研究结果表明，csm通常使用财务分析、机器学习、统计技术、运筹学和数据挖掘算法来制定。研究人员使用的主要数据库是银行和加州大学欧文分校。分析确定了csm使用的48种方法，主要是:逻辑回归(13%)，朴素贝叶斯(10%)和人工神经网络(7%)。作者得出结论，信用评分研究的进步将需要新的混合方法，能够将大数据和深度学习算法集成到csm中。这些算法应考虑实际问题，考虑提高csm所需的适应水平和性能的实际问题。实际意义本研究的结果可能为csm的应用提供相当大的实际意义。由于其目的是展示优化方法的应用，法律和伦理问题应该更好地适应csm，这是非常可观的。还建议通过改进新的客户服务管理体系，改进以微型和小型公司为重点的分期付款销售计划和商业信贷研究。原创性/价值授信的经济现实使得风险管理成为一个复杂的决策问题，越来越多地得到csm的支持。因此，本文满足了文献中的一个重要差距，以介绍应用于csm的优化方法的最新进展的分析。本文的主要贡献包括介绍了旨在提出更好的csm的研究的最新进展和未来趋势。
{"title":"A recent review on optimisation methods applied to credit scoring models","authors":"Elias Shohei Kamimura, Anderson Rogério Faia Pinto, M. S. Nagano","doi":"10.1108/jefas-09-2021-0193","DOIUrl":"https://doi.org/10.1108/jefas-09-2021-0193","url":null,"abstract":"PurposeThis paper aims to present a literature review of the most recent optimisation methods applied to Credit Scoring Models (CSMs).Design/methodology/approachThe research methodology employed technical procedures based on bibliographic and exploratory analyses. A traditional investigation was carried out using the Scopus, ScienceDirect and Web of Science databases. The papers selection and classification took place in three steps considering only studies in English language and published in electronic journals (from 2008 to 2022). The investigation led up to the selection of 46 publications (10 presenting literature reviews and 36 proposing CSMs).FindingsThe findings showed that CSMs are usually formulated using Financial Analysis, Machine Learning, Statistical Techniques, Operational Research and Data Mining Algorithms. The main databases used by the researchers were banks and the University of California, Irvine. The analyses identified 48 methods used by CSMs, the main ones being: Logistic Regression (13%), Naive Bayes (10%) and Artificial Neural Networks (7%). The authors conclude that advances in credit score studies will require new hybrid approaches capable of integrating Big Data and Deep Learning algorithms into CSMs. These algorithms should have practical issues considered consider practical issues for improving the level of adaptation and performance demanded for the CSMs.Practical implicationsThe results of this study might provide considerable practical implications for the application of CSMs. As it was aimed to demonstrate the application of optimisation methods, it is highly considerable that legal and ethical issues should be better adapted to CSMs. It is also suggested improvement of studies focused on micro and small companies for sales in instalment plans and commercial credit through the improvement or new CSMs.Originality/valueThe economic reality surrounding credit granting has made risk management a complex decision-making issue increasingly supported by CSMs. Therefore, this paper satisfies an important gap in the literature to present an analysis of recent advances in optimisation methods applied to CSMs. The main contribution of this paper consists of presenting the evolution of the state of the art and future trends in studies aimed at proposing better CSMs.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2023-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85626142","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}
The study sought to determine the effect of breadth of ownership on stock performance of firms listed at the Nairobi Securities Exchange (NSE), Kenya. In this research, descriptive research design was used and the population of the study was 63 firms that were listed as at 31 st December 2019. However, only listed firms that had consistently traded during the period of study were considered. As such, only 47 companies qualified to be in the study. Yearly data for five years (December 2015 to December 2019) was collected and analyzed. Results showed that the adjusted R-Square was 0.197 which indicated that 19.7% of variance in stock performance of firms that are quoted at the NSE are explained by breadth of ownership and the control variables (size and dividend). The F – statistic was 0.006 (<5%) which implied that breadth of ownership, firm size and dividend policy collectively significantly influence stock performance for companies that are listed at the NSE. Results from the regression analysis showed that breadth of ownership (P-value=0.048) and firm size which was a control variable had a significant relationship with performance of stock at 5% significance level (p-value = 0.001) Dividend policy (control variable) had a positive but insignificant relationship with stock performance at 5% significance level. A negative association between size of company (control variable) and stock performance of listed firms at the NSE was evidenced. The study recommends that firms with a higher number of shareholders continue increasing their shareholders as it has been established that firms with many shareholders have higher stock performance. Further, the study recommends the listed firms should take into consideration the company size as it negatively affects performance. The study recommends that listed firms should increase their dividend payout since dividends are used as benchmarks for the degree of expected future growth. The study suggests that further research should be done in stock markets across the East African region to enable comparison of results and generalization of the findings.
{"title":"The Effect of Breadth of Ownership on Stock Performance for Firms Listed at the Nairobi Securities Exchange, Kenya","authors":"Timothy Juma Okello, Z. Onsomu","doi":"10.12691/jfe-11-2-2","DOIUrl":"https://doi.org/10.12691/jfe-11-2-2","url":null,"abstract":"The study sought to determine the effect of breadth of ownership on stock performance of firms listed at the Nairobi Securities Exchange (NSE), Kenya. In this research, descriptive research design was used and the population of the study was 63 firms that were listed as at 31 st December 2019. However, only listed firms that had consistently traded during the period of study were considered. As such, only 47 companies qualified to be in the study. Yearly data for five years (December 2015 to December 2019) was collected and analyzed. Results showed that the adjusted R-Square was 0.197 which indicated that 19.7% of variance in stock performance of firms that are quoted at the NSE are explained by breadth of ownership and the control variables (size and dividend). The F – statistic was 0.006 (<5%) which implied that breadth of ownership, firm size and dividend policy collectively significantly influence stock performance for companies that are listed at the NSE. Results from the regression analysis showed that breadth of ownership (P-value=0.048) and firm size which was a control variable had a significant relationship with performance of stock at 5% significance level (p-value = 0.001) Dividend policy (control variable) had a positive but insignificant relationship with stock performance at 5% significance level. A negative association between size of company (control variable) and stock performance of listed firms at the NSE was evidenced. The study recommends that firms with a higher number of shareholders continue increasing their shareholders as it has been established that firms with many shareholders have higher stock performance. Further, the study recommends the listed firms should take into consideration the company size as it negatively affects performance. The study recommends that listed firms should increase their dividend payout since dividends are used as benchmarks for the degree of expected future growth. The study suggests that further research should be done in stock markets across the East African region to enable comparison of results and generalization of the findings.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2023-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79582690","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 : 2023-05-26DOI: 10.1108/jefas-04-2021-0041
Beatrice D. Simo-Kengne, Siphiwo Bitterhout
PurposeThe theoretical debate of corruption's impact on economic growth remains unsettled, making it an empirical question. This study aims to investigate corruption's effect on BRICS countries' economic growth.Design/methodology/approachA panel dataset on BRICS countries spanning 1996 to 2020 was used. Bias-corrected estimators in small dynamic panels were employed to estimate a growth model as a linear-quadratic function of corruption that accounts for cross-sectional dependence, endogeneity and unobserved heterogeneity due to country and time-specific characteristics.FindingsThe results indicate that corruption is detrimental to economic growth in BRICS countries; the quadratic relationship implies corruption is less prevalent in some countries than others. Thus, governments of BRICS countries are encouraged to embark on anti-corruption policies to boost their economic performance.Originality/valueAn important limitation of corruption studies is the difficulty in measuring real corruption experiences due to the secretive nature of corruption and the fact that corruption is known not to leave a paper trail. For the uncertainty of the index estimates, the analysis used a continuous corruption composite score measuring the standard deviation of the extent to which public power is exercised for public gain. Furthermore, estimation and inference are robust to small dynamic panels with a general form of cross-sectional dependence.
{"title":"Corruption's effect on BRICS countries' economic growth: a panel data analysis","authors":"Beatrice D. Simo-Kengne, Siphiwo Bitterhout","doi":"10.1108/jefas-04-2021-0041","DOIUrl":"https://doi.org/10.1108/jefas-04-2021-0041","url":null,"abstract":"PurposeThe theoretical debate of corruption's impact on economic growth remains unsettled, making it an empirical question. This study aims to investigate corruption's effect on BRICS countries' economic growth.Design/methodology/approachA panel dataset on BRICS countries spanning 1996 to 2020 was used. Bias-corrected estimators in small dynamic panels were employed to estimate a growth model as a linear-quadratic function of corruption that accounts for cross-sectional dependence, endogeneity and unobserved heterogeneity due to country and time-specific characteristics.FindingsThe results indicate that corruption is detrimental to economic growth in BRICS countries; the quadratic relationship implies corruption is less prevalent in some countries than others. Thus, governments of BRICS countries are encouraged to embark on anti-corruption policies to boost their economic performance.Originality/valueAn important limitation of corruption studies is the difficulty in measuring real corruption experiences due to the secretive nature of corruption and the fact that corruption is known not to leave a paper trail. For the uncertainty of the index estimates, the analysis used a continuous corruption composite score measuring the standard deviation of the extent to which public power is exercised for public gain. Furthermore, estimation and inference are robust to small dynamic panels with a general form of cross-sectional dependence.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2023-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88964352","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 : 2023-05-18DOI: 10.1108/jefas-11-2021-0245
K. Cortez, M. Rodríguez-García, Christian Reich
PurposeThis research aims to analyse the variables related to the purchase intention of COVID-19 rapid tests in Monterrey, Mexico's metropolitan area.Design/methodology/approach The chosen method was probit regression. The results show that purchase intention depends on the consumer's perceived value and the perception of having a potential contagion and/or presenting symptoms related to the virus. Regarding limitations, the sampling method used in this investigation is a nonprobabilistic convenience approach delivered through a digital platform, which may not be the first option in other contexts.FindingsThe findings indicate that the probability of the purchase intention of rapid COVID tests increases when consumers perceive symptoms of the disease and when they have higher education or are female rather than concerning price or income, as suggested by classical demand theory.Research limitations/implicationsProbabilistic sampling was impossible due to the difficulty of collecting surveys during the COVID-19 pandemic. Instead, a nonprobabilistic sample of a representative random selection of different zip codes from the responses received was considered.Originality/valueThe originality of the paper is its contribution to consumer behaviour during the COVID-19 pandemic in a Latin American context.
{"title":"Consumers’ purchase intention of rapid COVID-19 tests","authors":"K. Cortez, M. Rodríguez-García, Christian Reich","doi":"10.1108/jefas-11-2021-0245","DOIUrl":"https://doi.org/10.1108/jefas-11-2021-0245","url":null,"abstract":"PurposeThis research aims to analyse the variables related to the purchase intention of COVID-19 rapid tests in Monterrey, Mexico's metropolitan area.Design/methodology/approach The chosen method was probit regression. The results show that purchase intention depends on the consumer's perceived value and the perception of having a potential contagion and/or presenting symptoms related to the virus. Regarding limitations, the sampling method used in this investigation is a nonprobabilistic convenience approach delivered through a digital platform, which may not be the first option in other contexts.FindingsThe findings indicate that the probability of the purchase intention of rapid COVID tests increases when consumers perceive symptoms of the disease and when they have higher education or are female rather than concerning price or income, as suggested by classical demand theory.Research limitations/implicationsProbabilistic sampling was impossible due to the difficulty of collecting surveys during the COVID-19 pandemic. Instead, a nonprobabilistic sample of a representative random selection of different zip codes from the responses received was considered.Originality/valueThe originality of the paper is its contribution to consumer behaviour during the COVID-19 pandemic in a Latin American context.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2023-05-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73842109","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 : 2023-05-17DOI: 10.1108/jefas-05-2021-0044
Jurica Lucyanda, M. Sholihin
PurposeThis research aims to study budgetary slack from a behavioural perspective, especially examining the effect of gender and code of ethics on budgetary slack ethical judgment.Design/methodology/approachThis study adopts the experimental method of 2 × 3 between-subjects mixed factorial design with 102 participants to test the hypotheses. The participants are undergraduate and postgraduate accounting students at a major university in Indonesia.FindingsThe results show that gender affects budgetary slack ethical judgment, in which women judge budgetary slack as more unethical than men. Additionally, the results indicate that individuals consider budgetary slack more unethical when a code of ethics is present than when it is absent.Originality/valueThis study contributes to the management accounting literature and behavioural research by understanding budgetary slack from an ethical perspective. Additionally, this study contributes to ethics literature by identifying the effect of gender and code of ethics on budgetary slack righteous judgment.
{"title":"The effect of gender and code of ethics on budgetary slack ethical judgment: experimental evidence from Indonesia","authors":"Jurica Lucyanda, M. Sholihin","doi":"10.1108/jefas-05-2021-0044","DOIUrl":"https://doi.org/10.1108/jefas-05-2021-0044","url":null,"abstract":"PurposeThis research aims to study budgetary slack from a behavioural perspective, especially examining the effect of gender and code of ethics on budgetary slack ethical judgment.Design/methodology/approachThis study adopts the experimental method of 2 × 3 between-subjects mixed factorial design with 102 participants to test the hypotheses. The participants are undergraduate and postgraduate accounting students at a major university in Indonesia.FindingsThe results show that gender affects budgetary slack ethical judgment, in which women judge budgetary slack as more unethical than men. Additionally, the results indicate that individuals consider budgetary slack more unethical when a code of ethics is present than when it is absent.Originality/valueThis study contributes to the management accounting literature and behavioural research by understanding budgetary slack from an ethical perspective. Additionally, this study contributes to ethics literature by identifying the effect of gender and code of ethics on budgetary slack righteous judgment.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2023-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85349540","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 : 2023-05-17DOI: 10.1108/jefas-09-2022-0237
Vera Butkouskaya, Olga Oyner, S. Kazakov
PurposeThis study reviewed three customer-perceived components of integrated marketing communications (IMCs): consistency, interactivity and connectivity, as predictors of positive customer evaluation (product and retail service satisfaction).Design/methodology/approachThe customer data from 260 surveys were analysed using structural equation modelling (SEM). The data were collected from the emerging economy in the Moscow region (Russia).FindingsThe results reported that IMC consistency positively impacts product and service satisfaction. However, the effect of IMC interactivity was only significant in the case of service satisfaction. Meanwhile, IMC connectivity positively influenced only product satisfaction.Research limitations/implicationsThe study contributes to the marketing communications theory by defining three components of omnichannel IMC. It also adds to the customer behaviour theory by confirming the diverse nature of product and service evaluation. This study focuses on the retail industry.Practical implicationsThis research suggests that three components of IMC should be applied together towards enhancing the customer's positive post-purchase evaluation. Meanwhile, consistency enhances product and service satisfaction, interactive impacts satisfaction with the organization and connectivity with the retail service.Originality/valueThe shift toward omnichannel marketing requires a broader perspective on communication integration. This research reports a novelty result of estimating the separate effect of each component of omnichannel IMC (consistency, interactivity and connectivity) on product and service satisfaction.
{"title":"The impact of omnichannel integrated marketing communications (IMC) on product and retail service satisfaction","authors":"Vera Butkouskaya, Olga Oyner, S. Kazakov","doi":"10.1108/jefas-09-2022-0237","DOIUrl":"https://doi.org/10.1108/jefas-09-2022-0237","url":null,"abstract":"PurposeThis study reviewed three customer-perceived components of integrated marketing communications (IMCs): consistency, interactivity and connectivity, as predictors of positive customer evaluation (product and retail service satisfaction).Design/methodology/approachThe customer data from 260 surveys were analysed using structural equation modelling (SEM). The data were collected from the emerging economy in the Moscow region (Russia).FindingsThe results reported that IMC consistency positively impacts product and service satisfaction. However, the effect of IMC interactivity was only significant in the case of service satisfaction. Meanwhile, IMC connectivity positively influenced only product satisfaction.Research limitations/implicationsThe study contributes to the marketing communications theory by defining three components of omnichannel IMC. It also adds to the customer behaviour theory by confirming the diverse nature of product and service evaluation. This study focuses on the retail industry.Practical implicationsThis research suggests that three components of IMC should be applied together towards enhancing the customer's positive post-purchase evaluation. Meanwhile, consistency enhances product and service satisfaction, interactive impacts satisfaction with the organization and connectivity with the retail service.Originality/valueThe shift toward omnichannel marketing requires a broader perspective on communication integration. This research reports a novelty result of estimating the separate effect of each component of omnichannel IMC (consistency, interactivity and connectivity) on product and service satisfaction.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2023-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78886000","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 : 2023-05-08DOI: 10.1108/jefas-09-2022-0219
Junfeng Wang, Vera Butkouskaya
PurposeThis study constructs the influence mechanism model of sustainable marketing activities (SMAs), event image, commemorative product perceived value and tourists’ behavioral intentions (TBIs) in the sports tourism context of the Beijing Winter Olympic Games. Additionally, the article discusses the role of event image and product perceived value in enhancing the SMAs’ effect on TBIs.Design/methodology/approachThe research analyzed 315 valid questionnaires from tourists in the Chinese market by structural equation modeling.FindingsThe results indicate that SMAs positively impact sports tourism event image, tourists’ perceived commemorative product value and TBIs. Meanwhile, event image and product perceived value mediate the SMAs and TBIs relationship.Research limitations/implicationsConsidering SMAs as essential for sustainable development, this paper contributes to the strategic management discipline. Additionally, the research expands the analysis of event image and product perceived value in the brand theory and customer behavior research.Practical implicationsThe article outlines the principal value of SMAs implementation in enhancing behavioral intentions. It also reveals that a favorable event image and good perceived value can enhance SMAs’ effectiveness toward positively influencing TBIs, especially purchase intentions. It provides a new vision for nonprofit organizations to prioritize SMAs’ implementation in marketing strategies.Originality/valueIt is pioneering work with a complex research framework for SMAs implementation in the sports tourism context.
{"title":"Sustainable marketing activities, event image, perceived value and tourists’ behavioral intentions in the sports tourism","authors":"Junfeng Wang, Vera Butkouskaya","doi":"10.1108/jefas-09-2022-0219","DOIUrl":"https://doi.org/10.1108/jefas-09-2022-0219","url":null,"abstract":"PurposeThis study constructs the influence mechanism model of sustainable marketing activities (SMAs), event image, commemorative product perceived value and tourists’ behavioral intentions (TBIs) in the sports tourism context of the Beijing Winter Olympic Games. Additionally, the article discusses the role of event image and product perceived value in enhancing the SMAs’ effect on TBIs.Design/methodology/approachThe research analyzed 315 valid questionnaires from tourists in the Chinese market by structural equation modeling.FindingsThe results indicate that SMAs positively impact sports tourism event image, tourists’ perceived commemorative product value and TBIs. Meanwhile, event image and product perceived value mediate the SMAs and TBIs relationship.Research limitations/implicationsConsidering SMAs as essential for sustainable development, this paper contributes to the strategic management discipline. Additionally, the research expands the analysis of event image and product perceived value in the brand theory and customer behavior research.Practical implicationsThe article outlines the principal value of SMAs implementation in enhancing behavioral intentions. It also reveals that a favorable event image and good perceived value can enhance SMAs’ effectiveness toward positively influencing TBIs, especially purchase intentions. It provides a new vision for nonprofit organizations to prioritize SMAs’ implementation in marketing strategies.Originality/valueIt is pioneering work with a complex research framework for SMAs implementation in the sports tourism context.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2023-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89729962","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 : 2023-04-28DOI: 10.1108/jefas-07-2021-0123
Anamari Irizarry Quintero, Javier Rodríguez Ramirez, Camille Villafañe-Rodríguez
PurposeWritten communication differences across cultures can set the tone for effective or disastrous business relationships. Although English has been the go-to language in business, managers from different countries can significantly differ in how they convey the firms' information. This study explored these differences by examining the documentation presented by foreign corporations as part of their initial public offering (IPO) in the USA, particularly Chinese firms.Design/methodology/approachThis work examined cultural-related differences in written communications by looking at foreign corporations' descriptions of their strengths, strategies and challenges included in F-1 documents submitted to the Securities and Exchange Commission (SEC) as part of the IPO process. The sample consisted of 97 American depositary receipts (ADRs) identified in the Bank of New York Mellon's ADR directory from 2003 to 2015.FindingsThis study found that Chinese firms significantly differ from other countries' firms in depicting their strengths, strategies and challenges.Research limitations/implicationsLimitations have to do with the sample size. Future research may address this by considering other depositary markets, not just the USA.Originality/valueThe results will be significant for potential ADRs investors; they must be conscious of these differences in the written documentation submitted by Chinese firms compared to other foreign firms. The market should also be aware of these differences, as the Chinese seem less open to sharing information about the under spinning of their operations and financial prospects.
{"title":"Cultural communication differences in initial public offering documentation: the case of China","authors":"Anamari Irizarry Quintero, Javier Rodríguez Ramirez, Camille Villafañe-Rodríguez","doi":"10.1108/jefas-07-2021-0123","DOIUrl":"https://doi.org/10.1108/jefas-07-2021-0123","url":null,"abstract":"PurposeWritten communication differences across cultures can set the tone for effective or disastrous business relationships. Although English has been the go-to language in business, managers from different countries can significantly differ in how they convey the firms' information. This study explored these differences by examining the documentation presented by foreign corporations as part of their initial public offering (IPO) in the USA, particularly Chinese firms.Design/methodology/approachThis work examined cultural-related differences in written communications by looking at foreign corporations' descriptions of their strengths, strategies and challenges included in F-1 documents submitted to the Securities and Exchange Commission (SEC) as part of the IPO process. The sample consisted of 97 American depositary receipts (ADRs) identified in the Bank of New York Mellon's ADR directory from 2003 to 2015.FindingsThis study found that Chinese firms significantly differ from other countries' firms in depicting their strengths, strategies and challenges.Research limitations/implicationsLimitations have to do with the sample size. Future research may address this by considering other depositary markets, not just the USA.Originality/valueThe results will be significant for potential ADRs investors; they must be conscious of these differences in the written documentation submitted by Chinese firms compared to other foreign firms. The market should also be aware of these differences, as the Chinese seem less open to sharing information about the under spinning of their operations and financial prospects.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2023-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76707152","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 : 2023-04-27DOI: 10.1108/jefas-12-2021-0268
Carlos Alexander Grajales, Santiago Medina Hurtado
Purpose This paper measures different market risk impacts on options portfolios under the new Fundamental Review of the Trading Book (FRTB) regulation, issued in Basel and coming into effect in 2023. Design/methodology/approach This paper first suggests an algorithm for implementing the FRTB standardised approach via the sensitivities-based method to estimate a portfolio's risk capital and presents an illustration applied to an option position. Second, it proposes a methodology to estimate the expected shortfall in options portfolios from the FRTB internal models approach. In this regard, an application is developed to measure expected shortfall (ES) and value at risk (VaR) impacts under FRTB versus conventional VaR in a currency option position by considering stress scenarios from the 2007–9 and 2020–1 crises and back-testing procedures. Findings The suggested algorithm satisfactorily captures impacts via the sensitivities-based method, and higher risk capital demands are expected for emerging economies. Also, the planned FRTB methodology to measure ES and VaR is appropriate; in particular, historical metrics perform well. Astonishingly, their revealed impacts are more significant under the 2020–1 pandemic crisis than the 2007–9 financial crisis. Originality/value The proposals developed weave a communication bridge between the standardised and internal approaches of FRTB regulation, which can be scaled up technologically and institutionally.
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Pub Date : 2023-04-25DOI: 10.1108/jefas-09-2021-0185
A. Verma, Prajakta Sandeep Dandgawhal, A. K. Giri
PurposeThe present study aimed to examine the relationship between information and communication technologies (ICT) diffusion, financial development and economic growth in the panel of developing countries for 2005–2019.Design/methodology/approachThe study employed the principal component analysis (PCA) to extract the index of ICT diffusion. First-generation panel unit root tests such as Levine Lin Chu (LLC), Im Pesaran Shin (IPS), Augmented Dickey-Fuller (ADF) and Phillips and Perron (PP) were employed to check the stationarity of the variables. Pedroni and Kao co-integration techniques were used to examine the existence of the long-run relationship, and co-integration coefficients were estimated using FMOLS and dynamic ordinary least squares (DOLS). The panel Granger causality approach examined the short-run and long-run causality.FindingsThe results confirmed that ICT diffusion, financial development and trade openness accelerate growth, whereas inflation dampens economic growth. Further, the causality test showed bidirectional causality between ICT growth and financial development growth but a unidirectional causality from financial development to ICT diffusion in developing countries.Originality/valueThe study recommends synchronizing public and private sector investment for a synergistic effect on ICT infrastructure and adequate investment in the financial sector to increase the growth rate in developing countries. Economic policies should be adopted toward incentives and subsidies to ensure affordable ICT services for disadvantaged communities. Also, training programs focussing on enhancing digital literacy to enable all segments of the population to use digital platforms for financial services are recommended.
本研究旨在研究2005-2019年发展中国家面板中信息通信技术(ICT)扩散、金融发展和经济增长之间的关系。设计/方法/方法本研究采用主成分分析(PCA)提取ICT扩散指标。采用Levine Lin Chu (LLC)、Im Pesaran Shin (IPS)、Augmented Dickey-Fuller (ADF)和Phillips and Perron (PP)等第一代面板单位根检验检验变量的平稳性。采用Pedroni和Kao协整技术检验长期关系的存在性，并采用FMOLS和动态普通最小二乘(DOLS)估计协整系数。面板格兰杰因果关系法检验了短期和长期因果关系。研究结果证实，信息通信技术扩散、金融发展和贸易开放促进了经济增长，而通货膨胀抑制了经济增长。此外，因果关系检验表明，在发展中国家，ICT增长与金融发展增长之间存在双向因果关系，但金融发展与ICT扩散之间存在单向因果关系。独创性/价值该研究建议同步公共和私营部门投资，以对ICT基础设施产生协同效应，并在金融部门进行充分投资，以提高发展中国家的增长率。应采取经济政策鼓励和补贴，以确保弱势社区能够负担得起信息通信技术服务。此外，建议开展以提高数字素养为重点的培训项目，使各阶层人口都能使用数字平台进行金融服务。
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