EuroMed Journal of Business最新文献

{"title":"Value co-creation and positive online reviews: investigating the roles of customer gratitude and price fairness perception toward Egyptian hotels","authors":"M. A. Khashan, Mohamed A. Ghonim, Mariam Ashraf Aziz, T. H. Alasker, Mohamed M. Elsotouhy","doi":"10.1108/emjb-09-2023-0264","DOIUrl":"https://doi.org/10.1108/emjb-09-2023-0264","url":null,"abstract":"PurposeThe current study used the Stimuli-Organism-Response (S-O-R) paradigm to analyze value co-creation and customer gratitude influence on hotel guests' online reviews. It also examines the price fairness perception moderating influence on value co-creation and consumer gratitude.Design/methodology/approachData were collected from 436 customers using an Internet-based questionnaire. PLS-SEM was utilized to assess hypotheses based on WarpPLS.7 software.FindingsThe findings demonstrated that value co-creation (co-production and value in use) significantly impacted customer gratitude and willingness to post positive online reviews. Gratitude positively influenced customers’ willingness to post online reviews. Gratitude mediated the relation between value co-creation and willingness to post positive online reviews. Price fairness perception moderated the relationship between value co-creation dimensions and customer gratitude.Originality/valueThe S-O-R framework underpins this study to measure the effects of co-production and value in use (stimuli) on consumer gratitude (organisms) and willingness to post positive online reviews (response). No prior studies examined this paradigm in an emerging market like Egypt. In addition, the study investigated the fair price fairness perception as a new moderating variable. Theoretical and managerial consequences are addressed.","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":null,"pages":null},"PeriodicalIF":3.8,"publicationDate":"2024-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141924763","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":"Spillover effect of the geopolitical uncertainty on the cryptocurrency market","authors":"Saliha Theiri","doi":"10.1108/emjb-01-2024-0021","DOIUrl":"https://doi.org/10.1108/emjb-01-2024-0021","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study aims to examine the influence of geopolitical uncertainty on cryptocurrency markets (CM).</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>Utilizing two distinct sets of daily returns data spanning from January 1, 2019, to May 4, 2023, the analysis employs the geopolitical risk (GPR) index formulated by Caldara and Iacoviello (2022), which encapsulates two pivotal events: the COVID-19 pandemic and the Russia–Ukraine conflict. The cryptocurrency market (CM) encompasses Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Dogecoin (DOGE). Employing the DCC-GARCH model and supplementing it with wavelet coherence analysis to discern perceptual distinctions between short- and long-term market reactions.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The main findings indicate that the GPR index clearly impacts the return of CM in the short-, mid- and long-term periods. BTC exhibited the highest volatility in response to changes in the GPR index. The cryptocurrency market offers a better diversification opportunity, and the impact of geopolitical events varies across time, with their direction and magnitude closely related to the specificity of the CM.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>This research is helpful for financial market investors, portfolio and risk managers, make informed decisions about including cryptocurrencies in their investment portfolios to mitigate the risks in uncertainty period.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>Cryptocurrency market volatility is treated weakly during the risk period. With advanced statistical method, this study links two important events: the COVID-19 pandemic and the Russia–Ukraine conflict and selects the top four cryptocurrencies constituting 80% of the market. This study examines the impact of geopolitical risk on the cryptocurrency market and shows that this market is considered a safe haven.</p><!--/ Abstract__block -->","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":null,"pages":null},"PeriodicalIF":5.2,"publicationDate":"2024-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141931506","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":"Economic effectiveness of investment in higher education: an evaluation at the individual and national levels","authors":"Gindrute Kasnauskiene, Rokas Badaras, Rasa Pauliene, Alkis Thrassou","doi":"10.1108/emjb-12-2023-0334","DOIUrl":"https://doi.org/10.1108/emjb-12-2023-0334","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study evaluates the economic effectiveness of higher education in Lithuania by measuring returns to investment in higher education for both individual university graduates and the state, particularly aiming to discover how higher education investments impact economic returns at both micro (individual) and macro (national) levels.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>A dual methodological approach has been applied, utilizing both the Mincer earnings equation and the full discounting method, to draw a clear distinction between the returns enjoyed by individuals and those accrued to the country. Calculations for individual economic returns are done using the most recent available Lithuanian Department of Statistics data on the wage structure, while national return on education was based on the State Tax Inspectorate and Lithuanian Public Finance databases.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The research confirms that Lithuanian investments in education positively influence both individual earnings and society at large, mainly due to the low cost of education and the high returns. For individuals, net present value varies from €126,000 to €224,000, and the internal rate of return is from 7% to 46%, with the highest return being for males working in companies of 50–249 employees and holding a bachelor’s degree. It is also noteworthy that one additional year spent in education increases earnings on average by 4.1%. The financing of first cycle studies costs the state two times less than second and third cycle studies. For this reason, the net present value (NPV) and internal rate of return (IRR) of first cycle studies are higher than those of second and third cycle studies.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>While higher education is generally and globally seen as a way to ensure financial stability and career advancement at the individual level and socioeconomic development at the national one, the question of cost versus benefits at both levels is principal and diachronic. Our research quantifies the NPV and IRR of education investments and highlights the differential economic returns of various education levels, where policymakers can utilize these insights to inform strategic decisions regarding education funding and resource allocation. This study, therefore, provides explicit quantitative answers and presents individuals and policymakers with tangible results and practicable direction in their decision-making. The findings are applicable to the specific country-focus, but also constitute an applicable case study in the international context, particularly for European and other countries of comparable economic structure and developmental stage.</p><!--/ Abstract__block -->","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":null,"pages":null},"PeriodicalIF":5.2,"publicationDate":"2024-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141884040","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 effects of trust and religiosity on halal products purchase intention: indirect effect of attitude","authors":"Fatih Koc, Bekir Ozkan, Marcos Komodromos, Ibrahim Halil Efendioglu, Tamer Baran","doi":"10.1108/emjb-01-2024-0004","DOIUrl":"https://doi.org/10.1108/emjb-01-2024-0004","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The primary objective of this study is to examine how trust and religiosity, in relation to halal products, impact Turkish consumers' intention to purchase such goods. Furthermore, the study aims to identify whether attitudes towards halal products play a mediating role in these effects.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>Data were collected from 847 people living in Turkey using an online survey. The authors empirically tested the proposed conceptual model via structural equation modeling.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The study’s results show that trust in halal products has a positive impact on both the intention to buy halal products and the attitude towards them. Moreover, one’s attitude towards halal products affects the intention to purchase them. Additionally, one’s religiosity-belief level influences the intention to purchase halal products, while religiosity-practice level influences the attitude towards halal products. Furthermore, through indirect effect analyses, it was found that trust in halal products and religious practices has an indirect impact on intention through attitude.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>These outcomes significantly contribute to understanding the complex interactions between trust in halal products, levels of religiosity, and attitudes in shaping consumers' purchase intentions and approaches towards halal products. These implications offer valuable insights into how consumers' religious beliefs, trust perceptions, and attitudes influence their purchase of halal-certified products. Validating these conclusions on a larger scale and exploring them in different contexts would be beneficial.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>The practice dimension of religiosity pertains to performing actions prescribed by the religion, embodying the practical applications of religious teachings. According to the research findings, the belief dimension of religiosity significantly and positively affects the intention to purchase halal products. This finding aligns with several prior studies.</p><!--/ Abstract__block -->\u0000<h3>Social implications</h3>\u0000<p>Sharing information on websites, social media platforms, or product packaging can be effective. If businesses genuinely adhere to halal standards and address the genuine needs of consumers who value halal products, they can enhance consumers' interest in such products.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This research was conducted in Turkey, where most people follow the Muslim faith. The main objective of the study was to examine the trust levels of consumers who have strong religious beliefs and are sensitive to consuming halal products. The study looked at trust on three levels: trust in the halal product, trust in the company that produces halal products, and trust in institutions that provide halal certificati","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":null,"pages":null},"PeriodicalIF":5.2,"publicationDate":"2024-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141871908","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":"Does corporate environmental disclosure affect earnings management? The moderating effect of female board representation","authors":"Roua Ardhaoui, Anis Ben Amar, Ines Fakhfakh","doi":"10.1108/emjb-10-2023-0275","DOIUrl":"https://doi.org/10.1108/emjb-10-2023-0275","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This paper aims to investigate the effect of corporate environmental disclosure on earnings management and to further examine whether this relationship is moderated by female board.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>Our sample includes 264 European companies listed on the STOXX eUROPE 600 for the period 2010 to 2022. We excluded financial companies (banks and insurance companies) due to their specific capital structure and regulatory requirements, and companies with missing data. Feasible Generalized Least Square (FGLS) regression method is used to estimate the econometric models. For robustness analyses, the authors included the alternative measure of the dependent variable, and they applied the simultaneous equation model for the endogeneity test.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>Using discretionary accruals as a proxy for earnings management, the results obtained indicated a negative effect of corporate environmental disclosure on earnings management. The results suggest also that women on boards are effective in their monitoring role. Indeed, findings show that the effect of corporate environmental disclosure on earnings management is particularly stronger with the presence of women directors on the companies’ boards.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>This study has two limitations. Firstly, the sample size is relatively small, which may limit the generalizability of our findings. Secondly, our earnings management indicator, based on estimates of accruals, may not perfectly reflect all streams of earnings management. Therefore, to reduce potential bias in these estimates, it would be useful to use other indicators, such as real earnings management.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>The findings have several implications for regulatory, investors and academic researchers. For regulators, it is appropriate to promote several standards related to corporate environmental disclosure and earnings management. The results advise also the worldwide policy maker to give the importance of female roles to improve engagement firms in corporate environmental disclosure, so to be more transparent in their accounting practices to ensure that they are not engaging in unethical or fraudulent behavior. For investors, the results show that the existence of female directors on the board reduces earnings management. For academic researchers, it is interesting to explore the relationship between corporate environmental disclosure, women on the board, and earnings management.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This paper extends the existing literature by examining the moderating effect of women directors on the relationship between corporate environmental disclosure and earnings management in the European context.</p><!--/ Abstract__block -->","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":null,"pages":null},"PeriodicalIF":5.2,"publicationDate":"2024-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141871907","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":"Investigating environmental prioritization: role of financial resources and female entrepreneurship in the Mediterranean region","authors":"Racha Harakati, Ines Ghazouani, Zaineb Hlioui","doi":"10.1108/emjb-09-2023-0254","DOIUrl":"https://doi.org/10.1108/emjb-09-2023-0254","url":null,"abstract":"PurposeIn this study, we aim to define a new ecological financial pecking order. We examine how SMEs' adherence to the environment in the Mediterranean region is impacted by their financial resources and how women Entrepreneurship could play a moderating role in this relationship.Design/methodology/approachOur data are pooled cross-sectional firm level data across 14 Mediterranean countries, with a total of 5,949 observations over the period from 2018 to 2020. We look into the moderating influence of SMEs’ female ownership on the financial sources-environmental engagement link using GLS estimations. To reach our aim we focus on seven funding sources and develop a green engagement construct using JCA. Besides, we distinguish between the least and most environmentally engaged companies in the EU and its neighborhood and compare the different interactions and possible moderations.FindingsResults show that government subsidies foster environmental engagement, followed by supplier credits with a less significant positive impact. The bank credits have the least significant beneficial influence, while non-bank financial institutions have a non-significant effect. We underline that environmental engagements are hindered by the other funds, issued bonds and internal funds.Research limitations/implicationsSMEs in the Mediterranean region, particularly the less environmentally conscious, require strong legal frameworks to enforce environmental responsibility and raise awareness. Integrating less environmentally committed EU SMEs into state subsidy strategies is a chance to improve environmental responsibility in the region.Originality/valueTo our knowledge, there are no prior studies that present a detailed financial structure and environmental management investigation for SMEs within the Mediterranean region while considering the moderating effect of women's entrepreneurship.","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":null,"pages":null},"PeriodicalIF":3.8,"publicationDate":"2024-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141640160","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":"Susceptibility to social influence the mediating role of perceived risk and attitudes when considering a counterfeit purchase choice","authors":"Sally Raouf Ragheb Garas","doi":"10.1108/emjb-09-2023-0251","DOIUrl":"https://doi.org/10.1108/emjb-09-2023-0251","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The study aims to better understand the impact of susceptibility to social influence (normative and informational) on perceived risk and the consequent impacts on attitudes towards counterfeiting and intention to purchase counterfeit brands.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>A single cross-sectional descriptive research was employed, and questionnaires were used to collect data from 361 counterfeit buyers. Structural equation modelling (SEM) based on partial least squares (PLS-SEM) was applied to analyse data and test the research hypotheses.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>Results showed that normative susceptibility to social influence significantly increased attitudes towards counterfeiting but not purchase intention; its impact on intention was mediated by perceived risk and attitudes. Although information susceptibility to social influence increased purchase intention, it had no significant impact on attitudes and perceived risk.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>The current study empirically explores the relationship between susceptibility to social influence and perceived risk in the context of non-deceptive counterfeit consumption, by integrating the foundations of the theory of planned behaviour (TPB) and social cognitive theory (SCT).</p><!--/ Abstract__block -->","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":null,"pages":null},"PeriodicalIF":5.2,"publicationDate":"2024-07-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141572059","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":"Critical success factors, institutional actions and instructors’ acceptance of e-learning in higher education: a systematic review","authors":"Theodoros Millidonis, Petros Lois, Ifigenia Georgiou, Evangelos Tsoukatos","doi":"10.1108/emjb-02-2023-0037","DOIUrl":"https://doi.org/10.1108/emjb-02-2023-0037","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study conducts a systematic literature review to examine the interrelationships between e-learning critical success factors, instructors' perceptions of these factors, and the corresponding institutional actions taken by higher education institutions to achieve success in e-learning implementation, by fostering instructors’ acceptance of e-learning as a viable mode of delivery in higher education.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The research design employed in this study involves a systematic literature review of 43 peer-reviewed articles from EBSCO host and Scopus databases. The selected methodology employed thematic analysis of the gathered data by utilizing a multistep qualitative coding method of analysis. </p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The systematic literature review delivers three key findings. First, there is a notable divergence between instructors' perceptions of critical success factors for e-learning in higher education and the perspectives of other stakeholders, such as students, e-learning experts, and institutional management. Second, it emphasizes the importance for higher education institutions to understand and address instructors' perceptions to facilitate effective e-learning implementation. Third, the literature suggests potential causal relationships between institutional actions addressing the success factors deemed important by instructors and instructors' sustained acceptance of e-learning as a viable delivery mode.</p><!--/ Abstract__block -->\u0000<h3>Research implications</h3>\u0000<p>The present study enriches knowledge of instructor perceptions of critical success factors for effectiveness in higher education by extending research in institutional management actions to enable their achievement. This study has implications for research strands on how instructors’ motivation and propensity for e-learning acceptance can be influenced by institutional management and how to reduce the level of resistance to adopting e-learning courses by addressing e-learning’s critical success factors as perceived by instructors.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>Based on the theoretical insights derived from the systematic literature review, a conceptual framework is constructed, integrating the three concepts under investigation: success factors, institutional actions, and instructors' acceptance of e-learning in higher education. This framework provides a basis for future research seeking to validate the potential causal relationships among these concepts. Moreover, the study contributes to existing literature by addressing and consolidating research strands related to critical success factors and instructors' perceptions of e-learning effectiveness in higher education.</p><!--/ Abstract__block -->","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":null,"pages":null},"PeriodicalIF":5.2,"publicationDate":"2024-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141572061","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 role of inter-organisational communication in the performance of strategic alliances: a relational perspective","authors":"Mário Franco, Heiko Haase, Margarida Rodrigues","doi":"10.1108/emjb-01-2024-0024","DOIUrl":"https://doi.org/10.1108/emjb-01-2024-0024","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study aims to determine whether inter-organisational communication, based on four communicational dimensions (willingness, behaviour, commitment and quality), influences the performance of strategic alliances.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>To achieve this objective, from a relational perspective, a qualitative approach was adopted, resorting to five small and medium-sized enterprises (SME)/cases in Portugal. Interviews with the key informants of these SMEs and documentary analysis were used to collect data.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>Based on the cases analysed, the results show that communication is fundamental, valued and implemented in the SMEs studied. However, this is informal communication, reflecting the cooperation established and not based on contracts. In these SMEs, communication is the basis for understanding the alliance’s objectives and their fulfilment, which creates satisfaction in the partners and the alliance’s success. Communication also allows an alliance to be maintained and develop continuously, creating bonds between the partners.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>Without that communication, alliance performance will not be possible. The study is relevant as it indicates management practices in strategic alliances based on inter-organisational communication, aiming for good performance. Therefore, it contributes to advancing knowledge about strategic alliances through the innovative link with inter-organisational communication and its applicability.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This study is new and innovative because it contributes to the literature in the area of strategic management, as it presents phenomena to do with inter-organisational communication and its relation with strategic alliances in SMEs, as well as advancing knowledge about the relational perspective. In addition, the application and development of inter-organisational communication, in all its communicational dimensions, are the basis for maintaining alliances over time and their performance.</p><!--/ Abstract__block -->","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":null,"pages":null},"PeriodicalIF":5.2,"publicationDate":"2024-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141551617","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":"R&D investment and SMEs performance: the role of capital structure decisions","authors":"Sarmad Ali, Hussain Muhammad, Stefania Migliori","doi":"10.1108/emjb-11-2023-0311","DOIUrl":"https://doi.org/10.1108/emjb-11-2023-0311","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This paper examines the moderating role of capital structure decisions in the relationship between research and development (R&amp;D) investment and small and medium enterprises (SMEs) performance.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>Based on panel data of 1,357 European SMEs from 2014 to 2020, this study employs a generalized method of moments (GMM) regression to examine the R&amp;D-performance link through the moderating role of capital structure.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The results show that R&amp;D investment and equity financing positively and significantly influence SMEs performance. Debt financing, however, is negatively and significantly associated with SME performance. In addition, we show that capital structure choice significantly moderates the relationship between R&amp;D investment and SME performance. Specifically, debt financing attenuates the positive impact of R&amp;D investment on SMEs performance, whereas equity financing accentuates this relationship.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>This study helps policymakers formulate appropriate policies to overcome the challenges of underinvestment in R&amp;D projects to enhance SMEs performance.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>Our findings provide new evidence on R&amp;D-performance literature by refining the deeper understanding of the role of capital structure, which has previously been examined in partial and fragmented ways.</p><!--/ Abstract__block -->","PeriodicalId":46475,"journal":{"name":"EuroMed Journal of Business","volume":null,"pages":null},"PeriodicalIF":5.2,"publicationDate":"2024-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141501944","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}