Future Business Journal最新文献

{"title":"Remittance outflow, financial development and macroeconomic indicators: evidence from the UK","authors":"Ololade Periola, Monsurat Foluke Salami","doi":"10.1186/s43093-024-00373-x","DOIUrl":"https://doi.org/10.1186/s43093-024-00373-x","url":null,"abstract":"<p>Remittances have become a significant component of international capital flows, with millions of migrants sending billions of dollars back to their home countries annually. However, the way these outflows affect macroeconomic variables has not received sufficient attention in the literature, especially in the context of varying levels of financial development. Using time series data from 1987 to 2022 for the United Kingdom, this study examines the macroeconomic effects of remittance outflows and financial development. Our baseline estimation using the Autoregressive Distributed Lag model reveals heterogeneous impacts, as remittance outflows adversely affect economic growth but improve exchange rates. We find remittances do not have a significant effect on inflation or bank rates. The moderating effect of financial development analysis reveals a similar outcome. Our results suggest governments should consider stimulus policies that support investment in productive sectors to improve macroeconomic indicators and facilitate financial inclusion to enhance the adoption of growth strategies that promote remittances.</p>","PeriodicalId":44859,"journal":{"name":"Future Business Journal","volume":"20 1","pages":""},"PeriodicalIF":3.4,"publicationDate":"2024-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141741231","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 impact of top management team members diversity on corporations’ performance and value: evidence from emerging markets","authors":"Osama Wagdi, Atef Fathi","doi":"10.1186/s43093-024-00364-y","DOIUrl":"https://doi.org/10.1186/s43093-024-00364-y","url":null,"abstract":"<p>The study contributes to understanding the impact of top management team (TMT) member diversity on corporations’ performance and value in emerging markets. It examines three dimensions of diversity in TMT: gender, education, and foreign nationalities, providing insights into how these factors influence corporate performance and value. The study’s quantitative analysis of 70 non-financial corporations from Brazil, Egypt, India, Russia, Saudi Arabia, South Africa, and Turkey from 2013 to 2022 using cross-sectional unit analyzes helps establish empirical evidence on the relationship between TMT diversity and corporate performance in emerging markets. Study’s findings can inform corporations in emerging markets about the importance of promoting diversity in their top management teams to improve performance and value. The study found a significant impact of top management team diversity based on education and foreign nationalities but a non-significant impact on gender on some key performance indicators (KPIs). The study can explain the non-significant impact of gender according to shifting the prevailing theory from sexual selection theory to prospect theory. On the other hand, the study believes that the optimal mass of diversification, or the weight of members with diverse backgrounds, determines whether the impact of diversification is positive (it leads to increased creativity, innovation, problem-solving ability, talent attraction and retention, and employee engagement and productivity) or negative (it leads to increased organizational conflict and communication difficulties). If it is less than this mass, the benefits of diversity are limited, but if the mass is greater than it, the harms of diversity are greater than the benefits. The study also highlights the need for future research in the area of diversity in top management and provides a plan outlining steps to enhance diversity in top management teams.</p>","PeriodicalId":44859,"journal":{"name":"Future Business Journal","volume":"68 1","pages":""},"PeriodicalIF":3.4,"publicationDate":"2024-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141586361","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":"Revolutionizing consumer insights: the impact of fMRI in neuromarketing research","authors":"Ahmed H. Alsharif, Salmi Mohd Isa","doi":"10.1186/s43093-024-00371-z","DOIUrl":"https://doi.org/10.1186/s43093-024-00371-z","url":null,"abstract":"<p>This study performs a comprehensive bibliometric (performance analysis) and thematic content analysis of global research in \"neuromarketing or consumer neuroscience\" and \"functional magnetic resonance imaging or fMRI.\" Utilizing the PRISMA framework and R package software, we analyzed thirty-six Scopus-indexed articles. The USA and California Institute of Technology emerged as leading contributors, with Rangel, A., and Reimann, M., as notable authors. Prominent themes include 'advertising,' 'product,' 'price,' and 'brand', with the “Journal of Consumer Psychology” and “Journal of Neuroscience” being key publications. The most cited article is \"Marketing actions can modulate neural representations of experienced pleasantness,\" with 620 citations. In addition, fMRI has been used to study consumer behavior (impulsiveness, reward, emotion, decision-making, and memory) toward marketing stimuli such as price (WTP), advertising (celebrity endorsement, MSV), product (packaging design), and brand (Halal logo, label, and personality). This study provides an invaluable literature review matrix and detailed insights into the current trends in global neuromarketing research utilizing fMRI. This study highlights the significant impact of fMRI in both academic and commercial realms, offering new insights for targeted marketing and consumer behavior research. It provides valuable guidance for developing more effective advertising strategies, understanding consumer decision-making processes, enhancing business performance, and collaborating academically.</p>","PeriodicalId":44859,"journal":{"name":"Future Business Journal","volume":"11 1","pages":""},"PeriodicalIF":3.4,"publicationDate":"2024-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141572723","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 potential of neuroscience in transforming business: a meta-analysis","authors":"Supriya Khaneja, Tushar Arora","doi":"10.1186/s43093-024-00369-7","DOIUrl":"https://doi.org/10.1186/s43093-024-00369-7","url":null,"abstract":"<p>Organizations that embrace innovative business strategies position themselves well for success. In this evolving technological landscape, businesses are increasingly focused on understanding consumer behaviors and preferences to tailor their products and services effectively. Notably, integrating neuroscience has become pivotal in achieving these goals, requiring its incorporation throughout various business processes. This comprehensive research review conducts a meta-analysis, synthesizing findings from numerous studies on applying neuroscience across diverse business domains. The primary objective is to identify innovative neuroscience approaches that can significantly revolutionize businesses. Through a meticulous literature exploration using PRISMA analysis, we discerned broad themes and further refined them into critical sub-themes. This thematic categorization enables a focused examination of each area of business research. The findings in this study uncovered vital intersections between neuroscience and business, offering valuable insights for corporations and researchers. In essence, the integration of neuroscientific techniques and artificial intelligence (AI)-based softwares into business practices is no longer optional, but a necessity for businesses to stay competitive in today’s fast-paced world. This study, therefore, plays a crucial role in connecting the state-of-the-art tools and techniques in neuroscience and traditional business practices. It paves the way for a new era of business operations, where science and technology work hand in hand with commerce to create a more prosperous and sustainable future. In conclusion, the paper emphasizes the importance of incorporating neuroscience techniques and newly developed AI-based softwares into business practices. This integration can yield precise and favorable outcomes, offering businesses the tools to thrive in an ever-changing market environment.</p>","PeriodicalId":44859,"journal":{"name":"Future Business Journal","volume":"30 1","pages":""},"PeriodicalIF":3.4,"publicationDate":"2024-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141548096","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":"Achieving sustainable development in ECOWAS countries: the impact of trade openness, poverty and human capital","authors":"Musliudeen Adewale Balogun, Sheriffdeen Adewale Tella, Oluwaseyi Adedayo Adelowokan, Jimoh Sina Ogede, Soliu Bidemi Adegboyega","doi":"10.1186/s43093-024-00367-9","DOIUrl":"https://doi.org/10.1186/s43093-024-00367-9","url":null,"abstract":"<p>This study investigates the relationship among trade openness, poverty, and human capital development in the pursuit of sustainable development across a panel of ten ECOWAS economies over a 34-year period (1987–2020). Specifically, it examines the roles of trade openness, poverty, and human capital development in sustainable development, while also exploring the moderating role of trade openness on the poverty-sustainable development relationship within the ECOWAS region. To conduct this analysis, the study employs panel autoregressive distributed lag (ARDL) using both the Pool Mean Group (PMG) estimator and Cross-Sectional Autoregressive Distributed Lag (CS-ARDL) techniques, taking into account cross-sectional dependence, cointegration, and other relevant diagnostic tests. The findings indicate that poverty has a consistent negative long-run impact on sustainable development, while human capital is positively associated with sustainability over the long term. Trade openness lacks a significant relationship with sustainability in both the short and long run. Inflation is insignificantly related to sustainability. Exchange rates demonstrate mixed effects. In terms of moderation, trade openness positively and significantly moderates the poverty-sustainability relationship in the long run but not the short run. Robustness testing using the AMG and P-OLS models further validates the significant positive impact of human capital and the insignificant effect of trade openness on sustainable development. Given poverty’s significant negative association and human capital’s positive link with sustainable development, the findings suggest the need for integrated policy mixes prioritizing multidimensional poverty reduction and human capability enhancement to promote sustainability objectives across both short- and long-term horizons in ECOWAS countries. Furthermore, prudent management of exchange rates and well-designed trade policies should complement these efforts to mitigate potential risks and harness any benefits for sustainability.</p>","PeriodicalId":44859,"journal":{"name":"Future Business Journal","volume":"35 1","pages":""},"PeriodicalIF":3.4,"publicationDate":"2024-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141548097","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":"Moderating effect of institutional quality on the influence of debt on investment in sub-Saharan Africa","authors":"Obaike John Ojeka, Tajudeen Egbetunde, Gideon Oseibibi Okoduwa, Aisha Omobolanle Ojeyode, Mumuni Jimoh, Gideon Oladele Ogunbowale","doi":"10.1186/s43093-024-00362-0","DOIUrl":"https://doi.org/10.1186/s43093-024-00362-0","url":null,"abstract":"<p>The relationship between external debt and economic growth has been extensively studied by researchers and policymakers. However, the link between external debt and domestic investment remains an underexplored area of research. Therefore, this paper investigates the nexus between external debt and domestic investment, using institutional quality as a moderator. The sample consists of 47 sub-Saharan African countries with data spanning from 1996 to 2021. The empirical findings from conventional and robust estimators indicate that external debt negatively and significantly hampers domestic investment, while institutional quality plays a significant moderating role in this relationship. Additionally, the benefits of debt can only be realized by the SSA region when the average quality of institutions is above − 1.174 on the scale of − 2.5 to 2.5. The in-depth analysis offers insights that high-quality institutions (above a certain threshold) can help countries leverage debt for positive outcomes by promoting efficient resource allocation and attracting further investment. Thus, policymakers are advised to uphold debt management strategies and institutional reforms, such as reducing corruption, improving property rights, and strengthening the rule of law, to ensure transparency in debt use and maintain a sustainable debt burden. This will create a more attractive environment for both domestic and foreign investment. The results remain robust to alternative methodologies.</p>","PeriodicalId":44859,"journal":{"name":"Future Business Journal","volume":"28 1","pages":""},"PeriodicalIF":3.4,"publicationDate":"2024-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141548098","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":"Determinants of financial literacy: a systematic review and future research directions","authors":"Khurram Rehman, Md Aslam Mia","doi":"10.1186/s43093-024-00365-x","DOIUrl":"https://doi.org/10.1186/s43093-024-00365-x","url":null,"abstract":"<p>Financial literacy is considered an essential attribute for individuals and businesses to make optimal decisions. Considering the importance of financial literacy and the dearth of rigorous summaries in the existing literature on this topic, this study aims to investigate the factors affecting financial literacy. In doing so, we conducted a systematic review by selecting 53 papers from the Scopus database published between 1981 and 2024. Our investigation revealed that financial literacy is a multidimensional concept, and its determinants can be summarized into seven dimensions, namely demographic, socio-economic, psychological, financial, societal, Islamic, and technological factors. While demographic and socio-economic factors are widely used, psychological, financial, societal, and Islamic factors have received less attention from researchers. Nevertheless, the integration of technology into financial markets has recently drawn interest in the technological facet of financial literacy. Additionally, we analyzed the most influential papers and co-authorship networks in financial literacy research, providing a network analysis of existing studies. We further suggest that religious and technological factors, specifically Islamic financial literacy and digital financial literacy, may also influence financial literacy and deserve further investigation.</p>","PeriodicalId":44859,"journal":{"name":"Future Business Journal","volume":"28 1","pages":""},"PeriodicalIF":3.4,"publicationDate":"2024-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141512476","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":"A scientometric analysis of career anchor/orientation research from 1975 to 2023","authors":"Asegid Getachew Woldeamanuel","doi":"10.1186/s43093-024-00366-w","DOIUrl":"https://doi.org/10.1186/s43093-024-00366-w","url":null,"abstract":"<p>Career has traditionally been associated with its external dimension. However, the emergence of the concept of career anchor/orientation broadened its scope to include an internal component that encompasses the subjective desire, values and talents of individuals. The current scientometric review focused on analyzing career anchor/orientation research over the last five decades (1975–2023). The articles/documents used for analysis were searched and located from a purposely selected highly recognized databases. A total of 111 documents (articles, books, book chapters, conference proceedings) were selected for analysis. The result showed that the conceptualization of career anchor/orientation has remained stable with only some changes and emergence of few rival models. While the existing literature has provided valuable insights into the concept of career anchors, there are several gaps that need to be addressed. Future research should strive to expand the current understanding of career anchors by exploring additional career anchors, investigating their organizational implications, examining their interaction with other individual and contextual factors, and studying their manifestation in non-traditional work settings. The research in the area has shown a swinging trend with lots of ups and downs. Career anchor/orientation publications were spread over more than 24 countries. The US is ranked 1st with 28% of the total publication and is followed by the Asia continent and the UK. Africa, only represented by two countries (South Africa and Nigeria), is ranked fourth. Most of the empirical research have mainly focused on assessing the distribution of the dimensions of career anchor/orientation with few relating it with job settings and outcomes. It is recommended that career anchor/orientation scientometric analysis should be done by searching articles from more databases. More to this, as national contexts and cultural differences play a critical role in shaping career anchor/orientation of individuals it is suggested that more research needs to be done across a number of countries.</p>","PeriodicalId":44859,"journal":{"name":"Future Business Journal","volume":"144 1","pages":""},"PeriodicalIF":3.4,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141505493","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":"Do board characteristics matter in the relationship between intellectual capital efficiency and firm value? Evidence from the Nigerian oil and gas downstream sector","authors":"Ahmed Jinjiri Bala, Aminu Hassan, Muhammad Liman Muhammad","doi":"10.1186/s43093-024-00351-3","DOIUrl":"https://doi.org/10.1186/s43093-024-00351-3","url":null,"abstract":"<h3 data-test=\"abstract-sub-heading\">Purpose</h3><p>The purpose of this study is to investigate the moderating effects of board characteristics such as board size, chief executive officer duality, number of board meetings, and diversity, on the relationship between intellectual capital efficiency and firm value in the Nigerian oil and gas downstream sector.</p><h3 data-test=\"abstract-sub-heading\">Design/methodology/approach</h3><p>We collected time-series cross-sectional data from eight (8) downstream-sector oil and gas companies quoted on the Nigerian Exchange Group for the period 2004–2020. We analysed the data using Prais–Winsten regression with panel-corrected standard errors.</p><h3 data-test=\"abstract-sub-heading\">Findings</h3><p>Overall, our results show no significant direct relationship between the modified value-added intellectual coefficient and our two measures of firm value (Tobin’s Q and Price Earnings Ratio (PER)). However, the board size is found to moderate the intellectual capital efficiency–PER relationship significantly and negatively, whereas board diversity significantly positively moderates the association between the modified value-added intellectual coefficient and PER. Our multi-theory framework, which blends clean surplus, agency, stakeholder, and resource-based theories is found to be relevant in underpinning this study.</p><h3 data-test=\"abstract-sub-heading\">Research limitations/implications</h3><p>The research relies on 17-year panel data for eight downstream-sector oil and gas companies. Consequently, future research within intellectual capital efficiency in Nigeria could incorporate related sectors like midstream and upstream to enable comparability and expand generalization.</p><h3 data-test=\"abstract-sub-heading\">Practical implication</h3><p>Policymakers may adopt the study findings to serve as a robust empirical base to demand improved board diversity as a catalyst for boosting the potency of the intellectual capital efficiency-firm value relationship.</p><h3 data-test=\"abstract-sub-heading\">Originality/value</h3><p>Firstly, to the best of our knowledge, this study is the pioneer attempt to use board characteristics as moderators of the relationship between intellectual capital efficiency and firm value. Secondly, we develop and use a novel theoretical framework that combines clean surplus, agency, stakeholder, and resource-based theories to underpin the study.</p>","PeriodicalId":44859,"journal":{"name":"Future Business Journal","volume":"39 1","pages":""},"PeriodicalIF":3.4,"publicationDate":"2024-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141505494","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":"Firm level and country level determinants of earnings management in emerging economies: a systematic framework-based review","authors":"Manasi Gokhale, Deepa Pillai","doi":"10.1186/s43093-024-00361-1","DOIUrl":"https://doi.org/10.1186/s43093-024-00361-1","url":null,"abstract":"<p>The present paper reviews the extant literature on Earnings Management (EM) in emerging economies using the integrated ‘Antecedents Decisions Outcomes (ADO)–Theory, Context, and Methods (TCM)’ framework to identify the firm-level and country-level factors influencing EM practices in these economies. Considering the increasing share of emerging economies in global Foreign Direct Investment and their unique institutional settings and opaque reporting environment, this review seeks to identify the key perspectives of EM studies in these economies. This review analyses 96 articles from 50 journals published between the period 2003 and 2021. Concentrated ownership structures at the firm level, weak regulatory mechanisms for investor protection, low level of enforcement, and culture at the country level are identified as key determinants influencing EM practices in emerging economies. The review finds a dearth of studies integrating the agency, institutional, and organizational theories which will help in better understanding the phenomena of EM in emerging economies. The review also identifies a contextual gap in terms of the need for more multi-country studies within the emerging economies which will provide a better insight into the diverse formal and informal institutions that shape incentives for EM in these economies. Similarly, there is a need to adopt a qualitative and mixed methods approach to study this phenomenon which helps strengthen the theoretical framework for studying EM in emerging economies.</p>","PeriodicalId":44859,"journal":{"name":"Future Business Journal","volume":"23 1","pages":""},"PeriodicalIF":3.4,"publicationDate":"2024-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141529374","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}