{"title":"Stock Market Response to the Russia-Ukraine War: Evidence from an Emerging Market","authors":"E. Keleş","doi":"10.1080/10669868.2023.2210121","DOIUrl":"https://doi.org/10.1080/10669868.2023.2210121","url":null,"abstract":"Abstract This study examines the role of financial factors contributing to firms’ resilience during the Russia-Ukraine war. Event study results show a significant adverse reaction, which started before the official war announcement and grew over time. Further, cross-sectional analyses uncover that the negative effect is mitigated for larger and more profitable firms but amplified for high market-cap firms with high cash and debt-holding; both effects are more pronounced for non-financial companies. This study contributes by exploring Turkey as a unique emerging market setting due to its significant geopolitical position, strategic trade, and business partnership with the European Union and Russia.","PeriodicalId":44266,"journal":{"name":"Journal of East-West Business","volume":"29 1","pages":"307 - 322"},"PeriodicalIF":1.5,"publicationDate":"2023-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44153387","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}
{"title":"FDI Motives and Location Decisions of Emerging Country Business Groups: Entry Mode, Ownership and Institutional Environment","authors":"Kader Şahin, Tuğba Kaplan","doi":"10.1080/10669868.2023.2197459","DOIUrl":"https://doi.org/10.1080/10669868.2023.2197459","url":null,"abstract":"Abstract The purpose of this paper is to introduce and explain our understanding of the internationalization process of emerging country business groups (EBGs) according to the entry mode choice, ownership structure, and formal institutional environment of the host country. The internationalization models of Dunning and Mathews are integrated with the institutional environment in the internationalization process of EBGs because they are unable to explain the rise of EBGs alone. Content analysis is used to investigate the internationalization strategies of EBGs. The findings of this study revealed three categories of FDI motives: main motives (market-seeking and strategic asset-seeking), sector-based motives (efficiency-seeking and resource-seeking), and facilitative motives (relational asset-seeking). FDI motives, entry mode, ownership, formal institutional environment, and location decisions are investigated together in the context of emerging country dynamics. This exploratory study contributes to the expanding global research on EBGs based on a suggested framework that can provide novel insights regarding the internationalization processes of EBGs.","PeriodicalId":44266,"journal":{"name":"Journal of East-West Business","volume":"29 1","pages":"257 - 284"},"PeriodicalIF":1.5,"publicationDate":"2023-04-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47224407","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}
Eva Karayianni, Panagiotis Kontakos, Aristides Bitzenis, Angelina Sergi
{"title":"Cypriot Diaspora Direct Investment Patterns in times of Financial Crisis","authors":"Eva Karayianni, Panagiotis Kontakos, Aristides Bitzenis, Angelina Sergi","doi":"10.1080/10669868.2023.2198514","DOIUrl":"https://doi.org/10.1080/10669868.2023.2198514","url":null,"abstract":"Abstract This qualitative study aims to study the phenomenon of diaspora direct investments in the Republic of Cyprus during the period 2013–2021, which succeeded the 2013 Financial Crisis. The unit of analysis has been real estate agencies established on the island, as real estate consists the major sector where diaspora investment takes place. A multiple case study, including in-depth interviews, and an inductive analytical approach were adopted. Data has been triangulated leading to results which contribute theoretically by asserting that diaspora direct investments are predominantly emotionally driven, and not only socio-economically influenced, as in the case of foreign direct investments.","PeriodicalId":44266,"journal":{"name":"Journal of East-West Business","volume":"29 1","pages":"285 - 306"},"PeriodicalIF":1.5,"publicationDate":"2023-04-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41854235","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}
{"title":"Where the Baltic States Confirm and Extend Predictions of an Enlarged Viner-Model","authors":"Friedrich L. Sell, Jürgen Stiefl","doi":"10.1080/10669868.2022.2163023","DOIUrl":"https://doi.org/10.1080/10669868.2022.2163023","url":null,"abstract":"Abstract We empirically assess trade creation and diversion effects experienced by Baltic countries (2001–2020). To this purpose, we rely on the Viner model and its modifications to account for the access to the EU and for the monetary integration effects of the EURO adoption. We follow a three-steps-procedure (macro balance view, trend breaking view, and competitiveness view) which enables us to make a guess about the validation of the (expanded) Viner model. We show how the access to the EU and the adoption of the EURO by the Baltic countries redistributes shares of the respective import market and, hence, of incomes.","PeriodicalId":44266,"journal":{"name":"Journal of East-West Business","volume":"29 1","pages":"165 - 197"},"PeriodicalIF":1.5,"publicationDate":"2023-01-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47552372","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}
{"title":"Former Soviet Union Republics’ Emerging Place in International Institutions Network and Their International Trade Patterns after the Disintegration","authors":"Yener Kandogan","doi":"10.1080/10669868.2022.2162177","DOIUrl":"https://doi.org/10.1080/10669868.2022.2162177","url":null,"abstract":"Abstract This article investigates the role of international intergovernmental organizations (IGOs) former Soviet Union republics participated after its disintegration on their international trade patterns, particularly the consumer animosity and nostalgia dimensions toward each other and major countries in the IGOs. The results suggest that the republics were faced with a choice between EU/Western institutions and those that are led by Russia. Analysis shows that their international trade patterns reflect these alliances in the international institutions network.","PeriodicalId":44266,"journal":{"name":"Journal of East-West Business","volume":"29 1","pages":"138 - 164"},"PeriodicalIF":1.5,"publicationDate":"2023-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49309944","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}
{"title":"An Investigation of the Role of FDI in Stimulating Growth in EU: Evidence from Panel ARDL Analysis","authors":"Chrysanthi Tsimpida, Aristidis P. Bitzenis","doi":"10.1080/10669868.2022.2163022","DOIUrl":"https://doi.org/10.1080/10669868.2022.2163022","url":null,"abstract":"Abstract The study aims to examine the FDI-growth nexus in EU countries for the period 1996–2018. Empirical literature has suggested ambiguous results regarding the beneficial effects of FDI on host economies. In this study panel ARDL approach is employed using the PMG estimator, as the most suitable for our dataset. DFE and MG estimators are also implemented. The results indicate strong evidence that there is a positive long-run relationship between FDI and growth for the original EU members. However, regarding the new EU members, only the extended model provides statistical evidence of positive long-run relationship between FDI and growth. The positive and statistically significant long-run relationship between FDI and economic growth for all countries underlines the need for policy makers to formulate policies to attract FDI. Furthermore, the results of the study show that policy makers of EU countries characterized by high levels of corruption should focus on anti-corruption policies, as corruption seems to hinder the positive effects of both FDI and other determinants of economic growth.","PeriodicalId":44266,"journal":{"name":"Journal of East-West Business","volume":"29 1","pages":"226 - 256"},"PeriodicalIF":1.5,"publicationDate":"2023-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42944123","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}
{"title":"The Asymmetric Effect of Oil Price Fluctuation on Non-performing Loans in Kazakhstan: Evidence from the Ricardian Curse of the Resource Boom","authors":"Lee Chin, H. Saydaliev, S. Kadyrov","doi":"10.1080/10669868.2022.2141940","DOIUrl":"https://doi.org/10.1080/10669868.2022.2141940","url":null,"abstract":"Abstract This paper investigates the asymmetric impact of oil price fluctuations on non-performing loans (NPLs) between 2009-Q1 and 2020-Q1 for 28 banks in Kazakhstan. Dynamic panel threshold analysis revealed an initial increase of oil prices, improving creditworthiness, thereby reducing NPLs; however, after cross a certain threshold, the relationship was shown to become the opposite. This finding is in line with the Ricardian curse and resource windfall. The results suggest that optimal borrowings and lending should be actively monitored to mitigate potential liquidity problems of banks and consequently NPLs. The practical implications and policy recommendation of which are important to policy makers.","PeriodicalId":44266,"journal":{"name":"Journal of East-West Business","volume":"29 1","pages":"114 - 137"},"PeriodicalIF":1.5,"publicationDate":"2022-11-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43174418","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}
{"title":"What Is the Role of FoMO in Individual Investment Behavior? The Relationship among FoMO, Involvement, Engagement, and Satisfaction","authors":"Metin Argan, Vahdet Altundal, Mehpare Tokay Argan","doi":"10.1080/10669868.2022.2141941","DOIUrl":"https://doi.org/10.1080/10669868.2022.2141941","url":null,"abstract":"Abstract Little research has investigated the relationship between FoMO (fear of missing out) and financial behavior and underlying this association remains largely unknown. The aim of this paper is to investigate the relationship between envy and FoMO, investment involvement, investment engagement, and satisfaction. Proposed conceptual model was tested using structural equation modeling (SEM) among 1,741 individual investors. Research data were collected by convenience sampling method from individuals who are over 18 years of age and reported financial saving or individual investment. The inclusion criteria for participation included individuals over 18 years of age who reported financial saving or individual investment. Participants completed an online survey containing measurements regarding envy, FoMO, investment involvement, investment engagement, and satisfaction. The results indicated that there are significant and positive relationship between all of the constructs. This study highlights the underlying mechanism between FoMO and individual investment behavior, which has important theoretical and practical implications for understanding decision-making and behavior in the financial area.","PeriodicalId":44266,"journal":{"name":"Journal of East-West Business","volume":"29 1","pages":"69 - 96"},"PeriodicalIF":1.5,"publicationDate":"2022-11-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44078355","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}
{"title":"Opportunism in Chinese Interfirm Alliances: Effects of Asymmetric Dependence and Guanxi Governance","authors":"Liang-Hung Lin, Yu-Ling Ho, W. Lin","doi":"10.1080/10669868.2022.2128142","DOIUrl":"https://doi.org/10.1080/10669868.2022.2128142","url":null,"abstract":"Abstract In alliance studies, opportunism is generally considered a critical obstacle to interfirm cooperation, as it hampers interfirm confidence, impedes alliance evolution, and increases the probability of alliance failure. This study extends the prior opportunism studies by hypothesizing that actor opportunism in Chinese business will be largely affected by two sets of interfirm relationships: partners’ asymmetric dependence and guanxi governance. Data from 109 alliances undertaken by Taiwanese information and electronic firms supported the research hypotheses.","PeriodicalId":44266,"journal":{"name":"Journal of East-West Business","volume":"29 1","pages":"46 - 68"},"PeriodicalIF":1.5,"publicationDate":"2022-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41893325","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}
{"title":"Flexibility and Saudi Employees’ Perceptions of Job Satisfaction: A Multisector Study","authors":"Turkiah Saad Alotaibi","doi":"10.1080/10669868.2022.2118926","DOIUrl":"https://doi.org/10.1080/10669868.2022.2118926","url":null,"abstract":"Abstract The influence of job satisfaction components (pay, work settings, career growth, flexibility, and supervision) varies. Previous studies have shown job satisfaction is positively correlated with work settings, total compensation, and growth opportunities. There is, however, little evidence of job satisfaction in remote working after COVID-19 in Saudi Arabia. Therefore, the aim of the present study is to analyze the job satisfaction in remote working settings (workspace flexibility) among Saudi employees after the advent of the COVID-19 pandemic to determine ways to restructure human resource management practices post COVID-19. An online survey (n = 1113) to assess job satisfaction, taking flexibility into account, was conducted among Saudi employees, and the impact of flexibility and remote working policy in various sectors was measured using a Likert scale. The empirical findings demonstrate that periods of remote work are highly valued by employees, predominantly owing to their desire to fulfill personal duties and decrease stress. Interestingly, flexibility scored low among other job satisfaction components owing to two hypothesized reasons. Employees normally receive supervisor approval to combine working from home and the office; hence, they already receive this benefit. The findings of this study provide guidelines for practitioners and HR managers. Human resource management needs to adapt to changing circumstances and challenges, which requires long-term development, adaptation, and updating of human resource policies. This study contributes to literature on human resources by illustrating how managing organizational change can be improved by applying employee flexibility, which was made more pervasive by the worldwide pandemic.","PeriodicalId":44266,"journal":{"name":"Journal of East-West Business","volume":"29 1","pages":"199 - 225"},"PeriodicalIF":1.5,"publicationDate":"2022-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42846365","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}