scholarly journals The factors that determine shopping centre rent in Wuhan, China

2016 ◽  
Vol 34 (2) ◽  
pp. 172-185 ◽  
Author(s):  
Qiulin Ke ◽  
Wencan Wang
Keyword(s):  
Negative Impact ◽  
Emerging Market ◽  
Central Area ◽  
Central China ◽  
Market Condition ◽  
Adjustment Process ◽  
Data Set ◽  
Content Type ◽  
Shopping Centres ◽  
The Impact

Purpose – The purpose of this paper is to investigate the factors that affect the retail rent of shopping centres in Wuhan, an important city in central China. Design/methodology/approach – The study uses a data set of 68 shopping centres in urban Wuhan. A regression model is constructed to estimate the impact on retail rent of a composite range of variables that would capture the physical characteristics, spatial characteristics, potential attractiveness of shopping centres and market condition. Findings – The empirical findings suggest the ceiling height, closeness to metro line station, being situated in commercial central area, vacancy rate and income have significant impact on rental level. Unexpected, the retail mix has a significant negative impact on rent. The impact of the more determining factors found in Western research – size, age, parking space and anchor tenant – is not supported in the Wuhan study. Practical implications – While 68 shopping centres are included in the test, the sample size is relatively small. The comparatively short history of retail market in Wuhan would not allow to test the rent adjustment process. Originality/value – This is the first paper to investigate retail rent determinants in a second-tier city in China. The results of the study give designers, developers and investors critical insights into the determinants of retail rent in an emerging market.

“When I get older, I wanna be an entrepreneur”: the impact of disability and dyslexia on entrepreneurial self-efficacy perception

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Benjamin Powers ◽  
Séverine Le Loarne-Lemaire ◽  
Adnane Maalaoui ◽  
Sascha Kraus
Keyword(s):  
Self Efficacy ◽  
Negative Impact ◽  
Research Question ◽  
Entrepreneurial Intention ◽  
Economic Life ◽  
Entrepreneurial Intentions ◽  
Data Set ◽  
Content Type ◽  
The Usa ◽  
The Impact

PurposeThis article contributes to the literature on entrepreneurship for people with disabilities through a better understanding of the impact of entrepreneurial self-efficacy perceptions on entrepreneurial intentions in populations with lower levels of self-esteem. It investigates the entrepreneurial intention and self-efficacy of a population of students suffering from dyslexia, which is a learning disability.Design/methodology/approachThe paper is based on the study of a data set of 796 male and female adolescents in the USA, aged 13–19 years, both with and without dyslexia. The sample is a convenient one. The whole sample replied to the questionnaire on their self-efficacy perception and their intention to create, one day, their own venture. They also self-declare their dyslexia. Regressions have been conducted to answer the research question.FindingsResults show that having dyslexia has a negative impact on entrepreneurial self-efficacy perceptions. They also reveal that self-efficacy perceptions mediate the relationship between dyslexia and entrepreneurial intentions and their three antecedents (social norms, control behavior and perceived ability).Research limitations/implicationsThe sample is composed of students from private schools and might socially be biased.Practical implicationsOur findings relaunch the debate on the necessity to develop education programs that consider the personal-level variables of students, specifically the development of entrepreneurial self-efficacy among adolescents with disabilitiesSocial implicationsSuch findings should help to better understand students who are suffering from dyslexia and help them find a place in society and economic life.Originality/valueThis is so far the first study that has been conducted on dyslexic adolescents.

Working capital management and firm’s valuation, profitability and risk

2019 ◽  
Vol 15 (2) ◽  
pp. 191-204 ◽  
Author(s):  
Ben Le
Keyword(s):  
Firm Performance ◽  
Panel Data ◽  
Emerging Market ◽  
Firm Valuation ◽  
Capital Management ◽  
Working Capital ◽  
Data Set ◽  
Working Capital Management ◽  
Content Type ◽  
The Impact

PurposeThe purpose of this paper is to examine the effects of working capital management on firm valuation, profitability and risk.Design/methodology/approachThe paper uses a panel data set of 497 firms covering the period 2007 to 2016. The authors test the effects of working capital management on firm valuation, profitability and risk using the panel data methodology that includes firm and year fixed effects regressions.FindingsThe authors find a significantly negative relationship between net working capital (NWC) and firm valuation, profitability and risk. The results suggest that, in managing working capital, firm managers must make a trade-off between their objectives for profitability and risk control. Working-capital management is of particular importance in firms with less access to capital; it is also important when firms are expanding their investments during periods of economic recovery.Originality/valueThis paper contributes to the literature in several ways. First, to my knowledge, it provides the most comprehensive investigation, to date, on the relationship between working capital management and firm valuation, profitability and risk in an emerging market. Second, this study documents the existence of an optimal level of NWC in an emerging market. Third, firm performance, as measured in both market and accounting value, can be improved with efficient working capital management. Finally, the study includes the impact of the business cycle in an analysis of the effects of working capital management on firm performance.

Risk disclosures and firm value: the role of governance in an emerging market

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Surbhi Jain ◽  
Mehul Raithatha
Keyword(s):  
Firm Value ◽  
Good Governance ◽  
Negative Impact ◽  
Emerging Market ◽  
Moderating Effect ◽  
Least Square ◽  
Governance Mechanism ◽  
Content Type ◽  
Risk Disclosures ◽  
The Impact

PurposeThe objective of this paper is to investigate the impact of risk disclosures on firm value. We further investigate whether effective governance moderates the relation between risk disclosures and firm value.Design/methodology/approachWe use a sample of the top 200 Indian listed firms on NSE from 2013 to 2018. The generalised method of moments (GMM) along with the ordinary least square (OLS) is used to investigate our research problem. Further, we use the Propensity Score Matching (PSM) technique and the Heckman selection model for correcting selection bias in the robustness section.FindingsWe find that higher risk disclosures result in lower firm value. Besides, we show that better governance minimizes the negative impact of risk disclosures on firm value. This finding encourages firms to have a good governance mechanism to mitigate the adverse effects of risk disclosures in public.Originality/valueThe main contribution of our paper is to examine the moderating effect of governance between risk disclosures in the annual report and firm value (market-based and accounting-based) in the context of an emerging economy. Moreover, the paper highlights the potential moderating effect of independent directors and resourceful boards on the risk disclosures and firm value in the Indian context.

Green marketing and perceived SME profitability: the meditating effect of green purchase behaviour

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Albert Martins
Keyword(s):  
Negative Impact ◽  
Emerging Market ◽  
Mediating Effect ◽  
Green Marketing ◽  
Purchase Behavior ◽  
Research Approach ◽  
Sustainable Competitive Advantage ◽  
Cross Sectional Survey ◽  
Content Type ◽  
The Impact

PurposeThe concept of green marketing has emerged as a panacea for reducing the negative impact of business activities on the environment. Many studies have investigated the impact of green marketing on green purchase behavior, sustainable competitive advantage, etc., without much being explored about how green marketing translates into firms' profitability, particularly among small and medium enterprises (SMEs) in emerging markets. This study, therefore, investigates the influence of green marketing on perceived SME profitability alongside the mediating effect of green purchase behaviour.Design/methodology/approachA quantitative research approach was adopted, where a cross-sectional survey design was employed to collect the data from 400 SME owners/managers in Ghana. Using Statistical Package for Social Science, the data were analysed through descriptive statistics, correlation and macro Process version 3.4.1.FindingsThe results reveal that the dimensions (environmental knowledge, environmental concern, green price, green advertising and green product) of green marketing distinctively have significant positive effect on perceived SME profitability as well as green purchase behaviour. Furthermore, green purchase behaviour significantly mediates the relationship between green marketing dimensions and perceived SME profitability such that the indirect effects are far greater than the direct effects.Practical implicationsSME managers should include the green marketing dimensions in their business plans and develop strategies to implement them in order to enhance green purchase behaviour of their products and services which will, in turn, lead to profitability.Originality/valueIn augmenting green marketing literature, this study provides an insight into how SMEs can leverage on the distinct dimensions of green marketing to influence green purchase behaviour and profitability in an emerging market context.

Dispersion beyond miles: configuration and performance in virtual teams

2017 ◽  
Vol 23 (3) ◽  
pp. 186-204 ◽  
Author(s):  
Ambika Prasad ◽  
Darleen DeRosa ◽  
Michael Beyerlein
Keyword(s):  
Virtual Teams ◽  
Team Performance ◽  
Electronic Communication ◽  
Negative Impact ◽  
Spatial Distance ◽  
Future Research ◽  
Data Set ◽  
Content Type ◽  
And Performance ◽  
The Impact

Purpose The purpose of this paper is to understand different aspects of structural dispersion in virtual teams (VTs). The study measures five types of dispersion, their impact on VT performance and the moderating effect of electronic communication. Design/methodology/approach The authors collected data from 44 globally distributed VTs representing 403 members. The authors used details of the members’ locations to measure five elements of dispersion for each team: spatial, time-zone, number of locations, extent of numerical balance across locations and extent of isolated members for a team. The authors used two items to assess effective electronic communication and measured team performance on four items from three sources – members, leaders and third-party stakeholders. Findings Using regression, the authors found that the number of sites, degree of team balance and isolation had a negative impact on team performance. Spatial and temporal dispersion did not impact performance. Effective electronic communication moderated the relationship of team performance with team balance and the number of sites. Research limitations/implications Study presents novel findings on the role of team configuration in VTs. Limitations: the study provides pointers to the likelihood of a non-linear relationship between spatial distance and performance; however, the scope of the paper does not permit an examination of this model. Future research can study this relationship. Second, the study does not examine how team configuration impacts the team processes that discount performance. Finally, the study treats each index of dispersion as independent of the others. The analysis does not study the interplay between and among the indices. Practical implications The findings provide clear indicators for managers and researchers of VTs on the issues associated with the location and configuration of the teams. Managers, while designing and managing dispersed members are now informed of the impact of the number of sites and the sub-group dynamics. The study underscores the importance of effective electronic communication in managing dispersion. Social implications The study presents how faultiness based on location of VT sub-groups (as represented in the configuration of a team) can hamper performance. Literature suggests that this faultiness can also extend to social identities (based on gender, culture, etc.). The indicators provided by this study in this respect provide a topical focus for research because diverse dispersed teams are becoming more prevalent. Originality/value The study is the first empirical exploration of dispersion in VTs beyond the traditionally acknowledged dimensions of spatial distance and time-zones. It is a timely response to the recent trends in literature. Additionally, the study derives data from a unique data set of global VTs, thus making findings easily generalizable.

Stock price synchronicity and dividend policy: evidence from an emerging market

2019 ◽  
Vol 32 (4) ◽  
pp. 627-641
Author(s):  
Omar Farooq ◽  
Mona A. ElBannan
Keyword(s):  
Stock Price ◽  
Negative Impact ◽  
Emerging Market ◽  
Information Asymmetries ◽  
Stock Price Synchronicity ◽  
Dividend Payout ◽  
Content Type ◽  
Regression Approach ◽  
The Impact ◽  
The Relationship

Purpose The purpose of this paper is to document the impact of stock price synchronicity (SYNCH) on the dividend payout ratio. Design/methodology/approach The authors use data from India for the period between 2000 and 2012 and the panel regression approach to test their arguments. Findings This paper documents that the relationship between synchronicity and dividend payout ratio is positive until a turning point is reached. After that point, synchronicity has a negative impact on dividend payout ratio. The authors argue that firms with low synchronicity have higher information asymmetries. As a result, they have an incentive to develop a reputation as better-governed firms by paying high dividends. However, as synchronicity increases further, information asymmetries go down and as a result incentive to use dividend payouts as a mechanism to reduce information asymmetries goes down. Therefore, positive relationship between synchronicity and dividend payout ratios breaks down at high levels of synchronicity. Originality/value The authors provide evidence regarding the role played by SYNCH – a publicly available measure – on dividend polices adopted by firms within the context of emerging markets.

How corruption affects loan portfolio quality in emerging markets?

2016 ◽  
Vol 23 (4) ◽  
pp. 769-785 ◽  
Author(s):  
Khemaies Bougatef
Keyword(s):  
Economic Development ◽  
Panel Data ◽  
Emerging Market ◽  
Emerging Market Economies ◽  
Loan Portfolio ◽  
Data Set ◽  
Content Type ◽  
Market Economies ◽  
Asset Quality ◽  
The Impact

Purpose The purpose of this paper is to empirically investigate the impact of corruption on the asset quality of banks operating in emerging market economies over the period 2008-2012. This issue is of crucial importance given the role of banking systems in economic development and the worldwide spread of corruption. Using panel data set of 22 countries, our findings provide a strong and robust support to the hypothesis according to which corruption aggravates the problem with non-performing loans. This evidence suggests that corruption may hinder economic development through the misallocation of loanable funds. Other results are as follows: economic expansion and capitalization level improve the loan portfolio quality. By contrast, unemployment deteriorates the debt servicing capacity of borrower which in turn contributes to lower the bank asset quality. Design/methodology/approach The authors use panel data techniques on a sample of 22 emerging market economies over the period 2008-2012 to test the relevance of corrupt practices on the soundness of banks. Findings Their findings reveal a robust positive relationship between corruption and non-performing loans (NPLs). This evidence corroborates previous results on the detrimental effect of corrupt practices on financial development. The subdivision of our main sample into two groups on the basis of the level of corruption reveals the importance of the effectiveness of collateral and bankruptcy laws in reducing the effect of corruption on loan portfolio. Moreover, we find that the accessibility to more credit information is helpful only in low corrupt countries since it enhances the soundness of banks by facilitating lending decisions. Originality/value The novelty of this paper is to take into consideration the implications of corruption in investigating the determinants of credit risk.

Bank diversification and performance in an emerging market

2019 ◽  
Vol 16 (1) ◽  
pp. 120-138 ◽  
Author(s):  
King Carl Tornam Duho ◽  
Joseph Mensah Onumah ◽  
Raymond Agbesi Owodo
Keyword(s):  
Financial Stability ◽  
Emerging Market ◽  
Poor Performance ◽  
Sub Saharan Africa ◽  
Government Ownership ◽  
Income Diversification ◽  
Profit Efficiency ◽  
Data Set ◽  
Content Type ◽  
The Impact

Purpose The purpose of this paper is to investigate the impact of diversification on profitability, profit efficiency and financial stability of Ghanaian banks. Design/methodology/approach The authors employed a panel regression technique on a data set of 32 banks from 2000 to 2015. The data envelopment analysis is used to compute profit efficiency scores with credit risk accounted for. Findings The results suggest that income diversification decreases profit, profit efficiency and financial stability. The impact on profit and stability is U-shaped. The impact of asset diversification was found to be insignificant. High competition reduces both profitability and profit efficiency which is inconsistent with the quiet-life hypothesis of Hicks (1935), but financial stability increases with competition. High investment in tangible assets is associated with poor performance. Non-banking financial institutions that later became universal banks are not financially stable. Competition, size, age, government ownership and leverage which are controlled for and a sensitivity analysis conducted also provided relevant insights. Practical implications The results are relevant in understanding the events in the Ghanaian banking industry in 2017–2018. Income diversification strategy is essential in determining the performance of banks. Management has to figure out the extent and scope of their diversification to benefit from the strategy. Originality/value The authors examined diversification from the view-point of both the income statement and statement of financial position while most prior studies focused on only one aspect. The study is one of the few studies that employed the risk-adjusted profit efficiency measure in Sub-Saharan Africa.

scholarly journals The impact of the COVID-19 lockdown on stock market performance: evidence from Vietnam

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Dao Le Trang Anh ◽  
Christopher Gan
Keyword(s):  
Stock Market ◽  
Stock Returns ◽  
Negative Impact ◽  
Emerging Market ◽  
Positive Influence ◽  
Stock Performance ◽  
Content Type ◽  
Stock Market Performance ◽  
Daily Stock Returns ◽  
The Impact

PurposeThis study explores the effects of the COVID-19 outbreak and its following lockdown on daily stock returns in Vietnam, a fast-growing emerging market that successfully revived after the pandemic lockdown.Design/methodology/approachThis study uses panel-data regression models to evaluate the influence of the daily increase in the number of COVID-19 confirmed cases during pre-lockdown and lockdown on daily stock returns of 723 listed firms in Vietnam from 30 January to 30 May 2020.FindingsThe study confirms the adverse impact of the daily increasing number of COVID-19 cases on stock returns in Vietnam. The study also discloses that the Vietnam stock market before and during the nationwide lockdown performed in opposing ways. Though COVID-19 pre-lockdown had a significant, negative impact on Vietnam's stock returns, the lockdown period had a significant, positive influence on stock performance of the entire market and the different business sectors in Vietnam. The financial sector was hardest hit on the Vietnam stock market during the COVID-19 outbreak.Research limitations/implicationsThe study indicates investors' confidence and trust in the Vietnam government's decisions to combat COVID-19 and favorable stocks prices were the main reasons that the Vietnam stock market rebounded during and after lockdown.Originality/valueThis is the first study to examine the impact of COVID-19 during the pre-lockdown and lockdown periods on stock performance in Vietnam, a rapidly developing economy that was successful in controlling the pandemic with a rejuvenated stock market after lockdown.

Intensity of product market competition, institutional environment and accrual quality

2020 ◽  
Vol 32 (3) ◽  
pp. 391-419
Author(s):  
Khairul Anuar Kamarudin ◽  
Akmalia Mohamad Ariff ◽  
Wan Adibah Wan Ismail
Keyword(s):  
Institutional Environment ◽  
Negative Impact ◽  
Market Competition ◽  
Product Market ◽  
Least Square ◽  
Product Market Competition ◽  
Data Set ◽  
Accrual Quality ◽  
Content Type ◽  
The Impact

Purpose This paper aims to investigate the joint effect of product market competition (PMC) and institutional environment on accrual quality. Design/methodology/approach The sample covers a large data set of 52,138 firm-year observations from 35 countries over the period of 2011-2015. Using the weighted least square regression, the study estimates PMC and institutional environment on accrual quality. The study measures PMC based on Herfindahl-Hirschman index, anti-director rights index (ADRI) based on the revised and updated La Porta et al.'s (1998) and accrual quality using the modified Dechow and Dichev (2002) model proposed by McNichols (2002). The study also uses a series of specification tests using alternative measures for each variable. Findings The study finds that highly intensified PMC relates to a lower quality of accruals. The results also show that accrual quality is better in countries with stronger institutional environment, specifically countries with higher ADRI, investor protection, judicial independence, protection of minority shareholders’ interests, protection of property rights, strength of the auditing and reporting standards, efficacy of corporate boards and corporate ethics. The findings suggest that institutional factors weaken the negative impact of PMC intensity on accrual quality, hence suggesting that institutional environment has a significant role to enhance accrual quality among firms in highly intensified industries. Practical implications The findings provide additional insights to policymakers and regulators on the importance of strong institutional and industry environment that can provide incentives and extra governance mechanisms besides the conventional firm-level corporate governance. Originality/value This study contributes in understanding the impact of intensity of PMC on accrual quality internationally and subsequently highlights the role of institutional environment as significant country-level governance in determining financial reporting quality, particularly accrual quality.

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