Farm wages and public works

2015 ◽  
Vol 8 (1) ◽  
pp. 19-72 ◽  
Author(s):  
Kanika Mahajan
Keyword(s):  
Theoretical Model ◽  
Wage Rate ◽  
Fixed Effects ◽  
Positive Impact ◽  
Wage Growth ◽  
State Level ◽  
Random Allocation ◽  
Farm Sector ◽  
Content Type ◽  
The Impact

Purpose – The purpose of this paper is to examine the impact of National Rural Employment Guarantee Scheme (NREGS) on farm sector wage rate. This identification strategy rests on the assumption that all districts across India would have had similar wage trends in the absence of the program. The author argues that this assumption may not be true due to non-random allocation of districts to the program’s three phases across states and different economic growth paths of the states post the implementation of NREGS. Design/methodology/approach – To control for overall macroeconomic trends, the author allows for state-level time fixed effects to capture the differences in growth trajectories across districts due to changing economic landscape in the parent-state over time. The author also estimates the expected farm sector wage growth due to the increased public work employment provision using a theoretical model. Findings – The results, contrary to the existing studies, do not find support for a significantly positive impact of NREGS treatment on private cultivation wage rate. The theoretical model also shows that an increase in public employment work days explains very little of the total growth in cultivation wage post 2004. Originality/value – This paper looks specifically at farm sector wage growth and the possible impact of NREGS on it, accounting for state specific factors in shaping farm wages. Theoretical estimates are presented to overcome econometric limitations.

The impact of nostalgic emotion on brand trust and brand attachment

2019 ◽  
Vol 31 (4) ◽  
pp. 1118-1137 ◽  
Author(s):  
Tao Wen ◽  
Tong Qin ◽  
Raymond R. Liu
Keyword(s):  
Theoretical Model ◽  
Positive Impact ◽  
Service Industries ◽  
Theoretical Research ◽  
Brand Trust ◽  
Brand Attachment ◽  
Content Type ◽  
Four Dimensions ◽  
Potential Applicability ◽  
The Impact

Purpose The purpose of this paper is to make up the deficiency of theoretical research in nostalgic marketing and is helpful for the original theories of brand marketing and experiential marketing to deepen further. Design/methodology/approach The paper uses the approach of the empirical study. Based on the literature review, a theoretical model of the impact of nostalgic emotion (NE) on brand trust and brand attachment is constructed and corresponding research hypotheses are proposed. Then nostalgia-themed restaurants are selected to complete a questionnaire survey, and SPSS22.0 and LISREL8.70 are used for data analysis and hypothesis testing. Findings The results of the paper show that NE consists of four dimensions in the context of China: atmosphere nostalgia, interpersonal nostalgia, family nostalgia and personal nostalgia. Among these, NE has a significant positive impact on brand trust and brand attachment; further, brand trust has a significant positive impact on brand attachment and plays a partial mediating role in the impact of NE on the latter. Research limitations/implications As the nostalgic restaurant industry is the research object, the theoretical model described here may be limited to this specific industry. The potential applicability of the theoretical model to other service industries requires further study. Practical implications The results of the paper are helpful in building a good nostalgic experience, increasing consumer trust in restaurant brands, and strengthening the connection between NE and restaurant brand reconstruction. Social implications The results of the paper on the impact of NE on brand trust and brand attachment provide a referential basis and guide for services’ companies (e.g. restaurants) to revitalize the services’ brands. Originality/value The first contribution is that NE scale is constructed for the nostalgia-themed restaurants. The second contribution is that the paper reveals the mechanism of the impact of NE on brand trust and brand attachment.

Mechanization services, farm productivity and institutional innovation in China

2019 ◽  
Vol 11 (3) ◽  
pp. 536-554 ◽  
Author(s):  
Yi Qing ◽  
Moyu Chen ◽  
Yu Sheng ◽  
Jikun Huang
Keyword(s):  
Fixed Effects ◽  
Positive Impact ◽  
Northern China ◽  
Content Type ◽  
Farm Productivity ◽  
Capital Labor Ratio ◽  
Empirical Perspective ◽  
On Farm ◽  
The Impact ◽  
The Relationship

Purpose The purpose of this paper is to investigate the impact of mechanization services on farm productivity in Northern China from an empirical perspective, with the aim to identify the underlying market and institutional barriers. Design/methodology/approach The authors apply the regression method with the control of village fixed effects to examining the relationship between capital–labor ratio, mechanization service ratio and farm productivity, using the panel data collected in 2013 and 2015 by CCAP. Findings Mechanization services improve farm productivity through substituting labor, but it may generate a less positive impact on farms who do not have self-owned capital equipment. Originality/value It is the first study to investigate how mechanization services affect farm productivity for grain producers in Northern China.

Intellectual capital and dividend policy: the effect of CEO characteristics

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Enrico Battisti ◽  
Niccolò Nirino ◽  
Michael Christofi ◽  
Demetris Vrontis
Keyword(s):  
Intellectual Capital ◽  
Fixed Effects ◽  
Dividend Policy ◽  
Positive Impact ◽  
Panel Data Analysis ◽  
Chief Executive ◽  
Moderator Effect ◽  
Content Type ◽  
The Impact ◽  
Ceo Characteristics

PurposeThe paper aims to empirically test the impact of intellectual capital (IC) on a firm's dividend policy. Further, the authors investigate the moderator effect of Chief Executive Officer's (CEO) characteristics (gender, age and education) on this relationship.Design/methodology/approachThe research was carried out on the main Chinese listed companies reported on the CSI 100 Index from 2016 to 2018. To assess the impact of IC on the dividend policy and then the moderating effect of the characteristics of the CEOs, the authors used a fixed effects panel data analysis.FindingsThe results suggest a positive impact of IC on dividend policies. In addition, this relationship is enhanced when the CEO is a woman, and the lower the age the higher the effect is.Originality/valueTo the best of the authors' knowledge, this is the first empirical study that explores the effect of IC on a firm's dividend policy in an emerging country. Specifically, this paper demonstrates the impact that IC has on the creation of shareholder value. Furthermore, considering the characteristics of the CEOs, this study tests new moderating effects in the relationship between IC and value creation and highlights how IC, dividends and CEO characteristics can be useful in aligning interests between ownership and management, enriching the debate on agency theory.

Causal effects of immigration inflows on house prices in a traditionally non-destination country

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Woei Chyuan Wong ◽  
Jan-Jan Soon
Keyword(s):  
Fixed Effects ◽  
Positive Impact ◽  
House Prices ◽  
Housing Prices ◽  
House Price ◽  
Developed Countries ◽  
Annual Data ◽  
Content Type ◽  
Variable Approach ◽  
The Impact

Purpose The purpose of this study is to examine the causal impact of international immigration inflows on housing prices at the state level in Malaysia from 2007 to 2018. Design/methodology/approach Hedonic regressions using both fixed effects and first difference approaches are used to estimate the impact of immigration inflows on house prices in Malaysia. This study deals with potential endogeneity of immigrants’ choices of destination states in Malaysia by using a shift-share instrument variable approach. Specifically, historical shares of immigrants in a state are used to predict current immigrant inflows to a particular state. The predicted value of immigration flows is then inserted into the house price regression models in place of the actual immigration flows. Findings Using annual data for 14 states from 2007 to 2018, this study documents the positive impact of immigration inflows on house prices in Malaysia. The authors find that a 1% increase in immigration inflows is associated with an increase of 10.2% (first difference) and 13.4% (fixed effects) in house prices. The economic impact is larger in magnitude than that found in developed countries. Contrary to existing studies that find immigration inflows to be associated with native flight, the authors find support for the attraction effects hypothesis, where immigration inflow is positive and significantly related to net native flows. Research limitations/implications The effects of immigration inflows are economically significant, considering that the effects are 10 times larger than those documented in the USA. Policymakers in Malaysia ought to monitor house price trends in immigrant-popular states to ensure that natives are not priced out by new immigrants. Originality/value To the best of the authors’ knowledge, this is perhaps the first study to focus on the relationship between immigration inflows and house prices in Malaysia. Focusing on Malaysia has at least two originality aspects. First, Malaysia is relatively not an immigrant-popular destination. Second, Malaysia has a multiracial and heterogenous society among its natives. The findings, obtained within these two settings, would therefore provide a wider scope of result generalization, and natural experiment grounds for causal implications of our results.

Can policy makers count with positive impact of entrepreneurship on economic development of the Czech regions?

2017 ◽  
Vol 9 (3) ◽  
pp. 286-299 ◽  
Author(s):  
Ondřej Dvouletý
Keyword(s):  
Economic Development ◽  
Fixed Effects ◽  
Positive Impact ◽  
Negative Relationship ◽  
Policy Implications ◽  
Entrepreneurial Activity ◽  
Gdp Per Capita ◽  
Content Type ◽  
Per Capita ◽  
The Impact

Purpose The purpose of the present study is to empirically investigate the impact of the newly established entrepreneurial activity on economic development of the Czech NUTS 3 regions during the period of years 2003-2015. Design/methodology/approach An econometric approach was used to validate the stated hypotheses assuming a positive relationship between the new entrepreneurial activity and regional economic growth and a negative relationship between the new entrepreneurial activity and unemployment rate. For the methods, regression models with fixed effects were estimated on the panel that included 13 Czech regions, covering the period of years 2003-2015. The new entrepreneurial activity was classified into two forms – rate of newly established self-employed set-ups per capita and rate of newly established business companies and partnership set-ups per capita. Findings Different impacts of newly established business companies and the self-employed were found on real gross domestic product (GDP) per capita. Only the higher rates of newly established business companies and partnership were associated with higher levels of GDP per capita in the Czech regions, and no impact was found for the rate of new self-employed set-ups. Nevertheless, both forms of newly established entrepreneurial activity were associated with lower unemployment rates in the Czech regions; however, the impact of newly established business companies was significantly higher. The obtained results have several policy implications, which are discussed in the present paper. Practical implications Support of entrepreneurship in the Czech regions may improve the situation on the local labour markets and may deliver new job opportunities through the newly established enterprises. The Czech entrepreneurship policies focused on the growth of GDP and economic boom should be oriented more on the support of high-growth enterprises (unicorns). Originality/value The empirical analysis was conducted on the basis of the research gap in the studies related to the impact of the newly established entrepreneurial activity on the economic development of the Czech regions. Obtained results have several policy implications, which are discussed in the present paper.

Impact of financial leverage on profitability of listed manufacturing firms in China

2018 ◽  
Vol 30 (4) ◽  
pp. 410-432 ◽  
Author(s):  
Ilhan Dalci
Keyword(s):  
Financial Distress ◽  
Fixed Effects ◽  
Negative Impact ◽  
Positive Impact ◽  
Generalized Method Of Moments ◽  
Manufacturing Firms ◽  
Chinese Government ◽  
Financial Leverage ◽  
Content Type ◽  
The Impact

PurposeThe purpose of the study is to explore how financial leverage influences profitability of 1,503 listed manufacturing firms in China.Design/methodology/approachThe sample of the study is composed of the listed manufacturing firms in China. For the manufacturing firms, the annual financial information from 2008 to 2016 is obtained from the ORBIS database. In this study, initially a simultaneous equation approach is used to control for potential endogeneity. Then, additional regression analyses are conducted with panel data over the period of 2008-2016 using OLS, Fixed-effects, First-difference, Random-effects and Arellano and Bond’s (1991) two-step Generalized Method of Moments (GMM) methods.FindingsThe results reveal that the impact of leverage on profitability is inverted U-shaped. In this inverted U-shaped relationship, the positive impact of financial leverage on profitability could be attributed to tax shield, whereas the negative impact might be because of bankruptcy cost, financial distress, severe agency problems and information asymmetry that the listed Chinese firms suffer from because of some institutional characteristics of China.Research limitations/implicationsFirst, this study focuses on only listed manufacturing firms in China. Second, ownership types are not taken into account in this study.Practical implicationsFirst, the Chinese government should direct its efforts toward developing the bond markets and promoting alternative privately owned loan creditors to state-owned banks. Parallel to this, the transformation process toward market economy should be accelerated to facilitate the privatization of state-owned enterprises (SOEs). In addition to this, development of the bond market and privatization of SOEs will also mitigate the agency conflict between creditors and managers and between shareholders and managers.Originality/valueTo the best of the author’s knowledge, this is the first study which investigates the impact of capital structure on profitability of the listed firms in China.

Examination of impact of COVID-19 on stock market: evidence from American peninsula

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ali Amin ◽  
Muhammad Arshad ◽  
Naheed Sultana ◽  
Rabeeya Raoof
Keyword(s):  
South America ◽  
Stock Market ◽  
Fixed Effects ◽  
Negative Impact ◽  
Positive Impact ◽  
Unit Root Test ◽  
Panel Regression ◽  
Content Type ◽  
Stock Indexes ◽  
The Impact

PurposeThe rapid spread of COVID-19 has dramatic effects on financial market across the globe. This study analyzes the relationship between the COVID-19 cases, age and stock market indexes in Central America, North America, and South America.Design/methodology/approachThe panel regression analysis on three regions from March 10, 2020 to April 9, 2020 was conducted to test the hypothesized model. The authors used Levin et al.’s (2002) panel data unit root test to check the stationarity, and Hausman (1978) test was applied to determine the random and fixed effects.FindingsThe authors’ panel regression results indicate that the COVID-19 cases have a negative impact on stock indexes, whereas the age has a positive impact on the stock indexes. The region-wise analysis supports the panel finding except for South America, which shows an insignificant association between stock indexes and COVID-19 cases.Originality/valueThe study supplements the literature by examining the impact of pandemics on stock indexes and focus on three multicultural regions, comprising developed, developing and emerging countries, which are hitherto unaddressed.

scholarly journals Does market digitalization always benefit firms? The Latin American case

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Angelica M. Sanchez-Riofrio ◽  
Nathaniel C. Lupton ◽  
John Gabriel Rodríguez-Vásquez
Keyword(s):  
Latin America ◽  
Firm Performance ◽  
Latin American ◽  
Fixed Effects ◽  
Resistance To Change ◽  
Positive Impact ◽  
Adaptation Strategy ◽  
Content Type ◽  
Fixed Effects Panel Regression ◽  
The Impact

PurposePrior research has found that firms' adoption of digital technologies (i.e. digitalization) enhances transaction efficiency and improves firm performance. However, this finding is based on the assumption that firms respond to consumers' adoption of digital technology (market digitalization) in a timely fashion. The study investigates the impact of market digitalization on firm performance in Latin America, where resistance to change is often higher, despite the positive impact on performance when companies respond to the environmental shock of digitalization by restructuring.Design/methodology/approachUsing data from seven Latin American countries from 1997 to 2018 (Argentina, Brazil, Chile, Colombia, Peru, Venezuela and Mexico), fixed-effects panel regression robustly supports the results.FindingsMost Latin American firms fail to capitalize on the benefits of market digitalization, and their performance declines as a result. The authors extend research on digitalization by incorporating theoretical insights from the restructuring literature, finding that implementing a substantial restructuring strategy is a viable way to overcome market digitalization.Originality/valueThe authors demonstrate that the digitalization–firm performance relationship is more complex than has been described in studies using samples from developed economies. The authors establish restructuring as an effective adaptation strategy in Latin America, although the institutional environment's characteristics may constrain or discourage firms from adopting it.

Determinants of Nordic entrepreneurship

2017 ◽  
Vol 24 (1) ◽  
pp. 12-33 ◽  
Author(s):  
Ondřej Dvouletý
Keyword(s):  
Fixed Effects ◽  
Negative Impact ◽  
Positive Impact ◽  
Entrepreneurial Activity ◽  
Policy Makers ◽  
Content Type ◽  
Perceived Need ◽  
The Times ◽  
The Impact

Purpose The purpose of this paper is to analyse the determinants of entrepreneurial activity in the Nordic countries over the period of years 2004-2013 to provide supportive material for the Nordic entrepreneurial policy makers with specific focus on the role of necessity/opportunity-driven entrepreneurship, administrative barriers and the research and development (R&D) sector. Design/methodology/approach Quantitative study employed panel regression analysis with fixed effects estimator to test the impact of determinants on entrepreneurial activity operationalized as a rate of registered business activity and as an established business ownership rate. Findings The results obtained for the both dependent variables did not substantially differ from each other or the supported hypothesis stating a positive relationship between unemployment rate, GDP per capita and entrepreneurial activity. Also a negative impact of administrative barriers was found. However, no statistically significant positive impact of the R&D sector was observed. Practical implications Nordic entrepreneurial policy makers should put more effort into the reduction of administrative barriers towards founding enterprises and support entrepreneurship during the times of higher unemployment rates. Further evaluation of Nordic R&D policies is strongly needed, since no positive impacts towards entrepreneurship were found. Originality/value The empirical analysis was conducted based on the research gap in the studies related to the Nordic entrepreneurial policies and perceived need for the policy recommendations that are provided.

Income diversification and financial performance of commercial banks in Vietnam

2019 ◽  
Vol 12 (3) ◽  
pp. 185-199
Author(s):  
Hiep Ngoc Luu ◽  
Loan Quynh Thi Nguyen ◽  
Quynh Huong Vu ◽  
Le Quoc Tuan
Keyword(s):  
Financial Performance ◽  
Commercial Banks ◽  
Fixed Effects ◽  
Positive Impact ◽  
Banking System ◽  
Foreign Banks ◽  
Annual Reports ◽  
Income Diversification ◽  
Content Type ◽  
The Impact

Purpose The purpose of this paper is to investigate the impact of income diversification on the financial performance of commercial banks in Vietnam over the period 2007–2017. It then provides additional analysis to examine whether the diversification–performance nexus is conditioned upon bank experience and ownership structure. Design/methodology/approach The financial information of each bank were manually collected from bank annual reports. In the empirical model, a number of modern econometric techniques, including panel OLS with fixed effects and a two-step system GMM estimator, were utilised to achieve the research objectives. Findings The empirical results show that income diversification has a positive impact on banks’ performance. However, the effect varies across different types of banks. Specifically, the authors find that while diversification benefits state-owned and foreign banks, it exhibits a detrimental effect on the financial performance of other non-state owned domestic banks. In addition, the authors further find that the positive impact of diversification is more prominent for banks with more experience in the market. Originality/value This study is among the first to empirically investigate the relationships between income diversification and the financial performance of commercial banks in Vietnam. In this sense, the findings of this study could draw important inferences for researchers, policy makers and bank managers towards more appropriate diversification strategies, to ensure the safety and soundness of the whole banking system.

Sign in / Sign up

Export Citation Format

Share Document