Journal of Economic and Administrative Sciences最新文献

{"title":"Revisiting the economic growth in the shadow of financial stress in times of crisis: evidence from FIGARCH and wavelet coherence approach","authors":"Biswajit Paul, Raktim Ghosh, A. Sana, B. Bagchi, Priyajit Kumar Ghosh, Swarup Saha","doi":"10.1108/jeas-07-2023-0173","DOIUrl":"https://doi.org/10.1108/jeas-07-2023-0173","url":null,"abstract":"PurposeThis study empirically investigates the interdependency of select Asian emerging economies along with the financial stress index during the times of the global financial crisis, the Euro crisis and the COVID-19 period. Moreover, it inspects the long-memory effects of the different crises during the study period.Design/methodology/approachTo address the objectives of the study, the authors apply different statistical tools, namely the adjusted correlation coefficient, fractionally integrated generalised autoregressive conditional heteroskedasticity (FIGARCH) model and wavelet coherence model, along with descriptive statistics.FindingsFinancial stress is having a prodigious effect on the economic growth of select economies. From the data analysis, it is found that the long-memory effect is noted in the gross domestic product (GDP) for India and Korea only, which implies that the volatility in the GDP series for these two nations demonstrates persistence and dependency on previous values over a lengthy period.Originality/valueThe study is unique of its kind to consider multi-segments within the period of the study to get a clear idea about the effects of the financial stress index on select Asian emerging economies by applying different econometric tools.","PeriodicalId":508444,"journal":{"name":"Journal of Economic and Administrative Sciences","volume":"46 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141809176","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":"Threshold inflation and relative price variability – a proposal for inflation targeting in Lebanon","authors":"Sartaj Rasool Rather, Salah Abosedra","doi":"10.1108/jeas-09-2023-0247","DOIUrl":"https://doi.org/10.1108/jeas-09-2023-0247","url":null,"abstract":"PurposeThe study investigates the impact of inflation on the variability of relative prices in the context of Lebanon.Design/methodology/approachUnlike the traditional method, which relies on the variance of cross-sectional price changes measured at specific points in time to gauge the variability in relative prices, we employ a more appropriate approach. Under this approach, we capture the dispersion in relative prices by estimating how widely (or closely) a set of commodity prices drift apart over a span of time, offering a more comprehensive assessment. Firstly, we employ Johansen’s cointegration test on rolling subsamples to determine the number of statistically significant cointegrating vectors among the prices of 12 major commodity groups. Under this approach, an increase in the number of significant cointegrating vectors indicates a reduction in relative price variability, while a decrease suggests the opposite. Subsequently, we employ ordinary least squares regression to analyze how the fluctuations in inflation affect the variability in relative prices. The sample period ranges from December 2007 to April 2021.FindingsThe empirical results indicate that there exists a certain threshold inflation rate corresponding to which the variability in relative prices is minimized. More importantly, consistent with the theoretical predictions, the results suggest that it is not inflation per se, but the deviation of inflation from the 3% threshold level in either direction that causes higher dispersion in relative prices.Research limitations/implicationsThe empirical findings from this study have crucial implications for the operation of monetary and fiscal policy. In particular, these findings suggest that stabilizing long-term inflation around a certain threshold rate will not only help to anchor inflation expectations effectively but will also minimize the welfare costs associated with inflation.Originality/valueGiven the rising inflationary pressure in the recent past and its welfare costs, the study assumes crucial importance in understating how fluctuations in inflation distort the relative price structure and eventually cause resource misallocations and economic inefficiency.","PeriodicalId":508444,"journal":{"name":"Journal of Economic and Administrative Sciences","volume":"12 9","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141810696","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":"Oil price uncertainty and corporate cash policy: does Islamic financial development matter?","authors":"Abdullah Salem Bugshan","doi":"10.1108/jeas-01-2024-0006","DOIUrl":"https://doi.org/10.1108/jeas-01-2024-0006","url":null,"abstract":"PurposeThis study investigates the impact of oil price uncertainty on corporate cash holdings. Moreover, it examines whether the effect of oil price volatility differs between Shariah-compliant corporations (SCCs) and non-Shariah-compliant corporations (NSCs). It also explores the role of Islamic financial development in the home countries of these corporations in this relationshipDesign/methodology/approachThe study utilizes a sample of non-financial firms listed in eight emerging economies, for the period between 2013 and 2019. A static, ordinary least squares, and dynamic, Generalized Method of Moments models have been employed to test the hypotheses of the study.FindingsThe findings reveal that, on average, high oil price uncertainty influences both SCCs and NSCs. However, SCCs are more severely affected than NSCs. Notably, during periods of high oil price uncertainty, SCCs reserve more cash than their NSC counterparts. Additionally, the Islamic financial development of the country moderates the severity of the impact of oil price uncertainty on SCCs. Further analysis suggests that the impact of oil price uncertainty is more pronounced for firms operating in oil-exporting countries.Research limitations/implicationsCorporate managers should build a liquidity strategy that allows them to deal with oil price uncertainty. Also, the findings of the study highlight the importance for Islamic financial development of Islamic countries. The improved Islamic financial development of the country improves access to capital markets for shariah compliant firms and hence, reduces their need for holding excessive large amount of cash asset.Originality/valueThe study contributes to the growing literature on the effects of oil price uncertainty on corporate cash holding policy by highlighting the roles of Shariah compliance status and Islamic financial development in this relationship. It is the first to explore the joint relationship between oil price uncertainty, Shariah compliance, and corporate cash holding policy.","PeriodicalId":508444,"journal":{"name":"Journal of Economic and Administrative Sciences","volume":"73 16","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141817561","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 financial parenting, childhood financial socialization and childhood financial experiences in developing financial well-being among adolescents in their later life","authors":"Mohammad A. Algarni, Murad Ali, Imran Ali","doi":"10.1108/jeas-07-2023-0194","DOIUrl":"https://doi.org/10.1108/jeas-07-2023-0194","url":null,"abstract":"PurposePrevious research suggests the crucial role of parents in developing social behaviors of their children. However, less evidence is available on the role of parents in shaping responsible financial management behavior among children for their later life. This study bridges this gap by investigating the role of financial parenting in improving well-being among young Saudi people. Particularly, this study examines the role of financial parenting, childhood financial socialization and childhood financial experiences in developing responsible financial self-efficacy and financial coping behaviors to determine financial well-being among young adults in Saudi Arabia.Design/methodology/approachThis study uses a two-step mixed-method approach comprising analyses of symmetric (net effects) and asymmetric (combinatory effects) modelling to test the proposed model. A symmetrical analysis examines the role of financial parenting factors that are sufficient for improving financial well-being among Saudis. An asymmetrical analysis is used to explore that a set of combinations of financial parenting conditions lead to high performance of financial well-being. Data have been collected from 350 students enrolled in undergraduate and postgraduate programs in Saudi Arabia.FindingsAccording to asymmetric modeling (i.e. fsQCA) analysis, parents and practitioners can combine financial parenting, childhood financial socialization and childhood financial experiences along with financial self-efficacy and financial coping behaviors in a way that satisfied the conditions (i.e. causal antecedent conditions) leading to high financial well-being. Importantly, the condition of high financial well-being is not mirror opposite of causal antecedent conditions of low financial well-being.Research limitations/implicationsThis study contributes to the current knowledge by applying both symmetrical and asymmetrical modelling to indicate a high level of financial well-being. Besides, there is sparse empirical evidence available in the context of Saudi Arabia on how financial parenting, socialization and financial experiences in childhood improve children's financial well-being in their later life.Practical implicationsAccording to asymmetric modeling (i.e. fsQCA) analysis, parents and practitioners can combine financial parenting, childhood financial socialization and childhood financial experiences along with financial self-efficacy and financial coping behaviors in a way that satisfied the conditions (i.e. causal antecedent conditions) leading to high financial well-being. Importantly, the condition of high financial well-being is not mirror opposite of causal antecedent conditions of low financial well-being. The parents and practitioners must be cautious to regulate the condition in which the combination of the antecedents is not in line with the causal recipes of financial well-being negation.Originality/valueThis study deepens the current knowledge by employing both symme","PeriodicalId":508444,"journal":{"name":"Journal of Economic and Administrative Sciences","volume":"6 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141265863","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":"Performance and returns volatility of banks in India: public versus private sector","authors":"Kuldeep Singh","doi":"10.1108/jeas-07-2023-0181","DOIUrl":"https://doi.org/10.1108/jeas-07-2023-0181","url":null,"abstract":"PurposeThis current study draws a comparison between the performance indicators of public sector banks (PSBs) and private sector banks (or non-PSBs) in India. The study controls for the impact of COVID-19.Design/methodology/approachThe study uses strongly balanced panel data for seven years of 12 PSBs and 10 non-PSBs from the Nifty PSU Bank Index and Nifty Private Bank Index. The study applies panel data methodology to arrive at the results.FindingsThe study demonstrates that the behavior of indicators of performance and returns volatility for PSBs and non-PSBs differs substantially. While factors like capital adequacy ratio (CAR), cost management (COST), liquidity (LIQ), inflation and economic growth exhibit a similar impact on both categories of Indian banks, the effect of credit risk (RISK), market power (POWER) and COVID-19 on performance and returns stability is different for PSBs and non-PSBs.Research limitations/implicationsThere is a limited sample size of banks in India.Practical implicationsPSBs and non-PSBs need distinct treatments when calibrating performance indicators.Social implicationsThe performance and stability of banks are essential for society at large, the depositors and the investors.Originality/valueThe study provides vibrant implications for insight for banks to calibrate the variables that determine performance and stability, regulators and policymakers for effective governance of the banking ecosystem and effective utilization of public funds and capital. The findings are relevant for policymaking today, when the government is considering the privatization of a few PSBs.","PeriodicalId":508444,"journal":{"name":"Journal of Economic and Administrative Sciences","volume":"177 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140451367","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":"Strategic leadership and transactional leadership: the mediating effect of digital leadership in the world of Industry 4.0","authors":"A. J. Avwokeni","doi":"10.1108/jeas-05-2023-0138","DOIUrl":"https://doi.org/10.1108/jeas-05-2023-0138","url":null,"abstract":"PurposeThe dearth of leadership competencies to transform traditional industries to Industry 4.0 is a barrier to global production. This study explains the deficiencies in leadership competencies that hinder the transformation of traditional industries to Industry 4.0.Design/methodology/approachLeadership was explained into transactional leadership, digital leadership and Leadership 4.0. Then, the network of relationships between these leadership constructs was plotted in a path diagram to learn the mediating effect of digital leadership.FindingsThe results indicate that a lack of digital competencies to coordinate tasks, share information and solve problems in a digitalized environment is the barrier to the transformation.Practical implicationsThe findings can be used in human resources (HR) management. In addition, the findings provide evidence to present the contingency theory as a universal theory of leadership.Originality/valueThe study is the first to assess the mediating effect of digital leadership on transactional leadership to explain the changes to strategic leadership due to the emergence of Leadership 4.0.","PeriodicalId":508444,"journal":{"name":"Journal of Economic and Administrative Sciences","volume":"32 14","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139841010","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":"Strategic leadership and transactional leadership: the mediating effect of digital leadership in the world of Industry 4.0","authors":"A. J. Avwokeni","doi":"10.1108/jeas-05-2023-0138","DOIUrl":"https://doi.org/10.1108/jeas-05-2023-0138","url":null,"abstract":"PurposeThe dearth of leadership competencies to transform traditional industries to Industry 4.0 is a barrier to global production. This study explains the deficiencies in leadership competencies that hinder the transformation of traditional industries to Industry 4.0.Design/methodology/approachLeadership was explained into transactional leadership, digital leadership and Leadership 4.0. Then, the network of relationships between these leadership constructs was plotted in a path diagram to learn the mediating effect of digital leadership.FindingsThe results indicate that a lack of digital competencies to coordinate tasks, share information and solve problems in a digitalized environment is the barrier to the transformation.Practical implicationsThe findings can be used in human resources (HR) management. In addition, the findings provide evidence to present the contingency theory as a universal theory of leadership.Originality/valueThe study is the first to assess the mediating effect of digital leadership on transactional leadership to explain the changes to strategic leadership due to the emergence of Leadership 4.0.","PeriodicalId":508444,"journal":{"name":"Journal of Economic and Administrative Sciences","volume":"102 8","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139781348","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 natural resources invite terrorism: evidence from resource-rich region","authors":"Muhammad Tahir, Muhammad Mumtaz Khan","doi":"10.1108/jeas-01-2023-0024","DOIUrl":"https://doi.org/10.1108/jeas-01-2023-0024","url":null,"abstract":"PurposeThe MENA region is very rich in terms of natural resources. At the same time, the MENA region has also been a victim of terrorism during the last few years. This study is an attempt to investigate whether there is any relationship between natural resources and terrorism in the MENA region.Design/methodology/approachWe have focused on 15 resource-rich countries located in the MENA region for the period 2002–2019. We have applied appropriate econometric techniques and have also controlled for other dominant determinants of terrorism while studying the relationship between these two variables.FindingsThe results provide solid evidence in favor of the hypothesis that natural resources encourage terrorism. We find that natural resources have positively impacted terrorism. Besides, the natural resources, other factors such as per capita GDP, trade openness, political stability, domestic investment and government expenditures have negatively impacted terrorism. Moreover, the findings suggest that FDI and corruption are irrelevant in explaining terrorism while the findings regarding employment level and terrorism are unexpected. The obtained results are robust to alternative estimating methodologies.Practical implicationsThe results have serious policy implications for the MENA region. The MENA region in general is suggested to devise appropriate policies regarding their huge natural resources so as to tackle the terrorism problem effectively. Similarly, paying favorable attention to trade liberalization, political stability, government expenditures, investment, rising income of the population in the presence of macroeconomic stability in the form of lower inflation would also help the MENA region to eradicate the problem of terrorism.Originality/valueThe available literature has largely ignored the role of natural resources in explaining the problem of terrorism. Therefore, this study has provided relatively new evidence regarding the determinants of terrorism.","PeriodicalId":508444,"journal":{"name":"Journal of Economic and Administrative Sciences","volume":"186 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139843073","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 natural resources invite terrorism: evidence from resource-rich region","authors":"Muhammad Tahir, Muhammad Mumtaz Khan","doi":"10.1108/jeas-01-2023-0024","DOIUrl":"https://doi.org/10.1108/jeas-01-2023-0024","url":null,"abstract":"PurposeThe MENA region is very rich in terms of natural resources. At the same time, the MENA region has also been a victim of terrorism during the last few years. This study is an attempt to investigate whether there is any relationship between natural resources and terrorism in the MENA region.Design/methodology/approachWe have focused on 15 resource-rich countries located in the MENA region for the period 2002–2019. We have applied appropriate econometric techniques and have also controlled for other dominant determinants of terrorism while studying the relationship between these two variables.FindingsThe results provide solid evidence in favor of the hypothesis that natural resources encourage terrorism. We find that natural resources have positively impacted terrorism. Besides, the natural resources, other factors such as per capita GDP, trade openness, political stability, domestic investment and government expenditures have negatively impacted terrorism. Moreover, the findings suggest that FDI and corruption are irrelevant in explaining terrorism while the findings regarding employment level and terrorism are unexpected. The obtained results are robust to alternative estimating methodologies.Practical implicationsThe results have serious policy implications for the MENA region. The MENA region in general is suggested to devise appropriate policies regarding their huge natural resources so as to tackle the terrorism problem effectively. Similarly, paying favorable attention to trade liberalization, political stability, government expenditures, investment, rising income of the population in the presence of macroeconomic stability in the form of lower inflation would also help the MENA region to eradicate the problem of terrorism.Originality/valueThe available literature has largely ignored the role of natural resources in explaining the problem of terrorism. Therefore, this study has provided relatively new evidence regarding the determinants of terrorism.","PeriodicalId":508444,"journal":{"name":"Journal of Economic and Administrative Sciences","volume":"17 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139783175","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":"Impact of COVID-19 pandemic on rural migrants of Bihar: a cross-sectional study","authors":"Sandeep Kumar","doi":"10.1108/jeas-06-2023-0142","DOIUrl":"https://doi.org/10.1108/jeas-06-2023-0142","url":null,"abstract":"PurposeThis paper presents a cross-sectional study that assessed the impact of the COVID-19 pandemic on rural migrants in Bihar. The primary objective of this study was to evaluate the overall impact of the pandemic on migrants and examine their livelihoods, with a focus on identifying measures that can mitigate the economic consequences.Design/methodology/approachThis study used a telephonic survey to collect primary data from 419 respondents. Descriptive statistics were used to analyze the data, and three indices were constructed: fear and worries, trust and prevention.FindingsThe findings provide insights into the psychological well-being of migrant workers and highlight the challenges they face in sustaining their livelihoods amidst the pandemic. This study concludes by suggesting potential measures to alleviate the economic impact and enhance the resilience of this vulnerable population.Research limitations/implicationsThis study may be limited by the representativeness of the sample as well as the potential for social desirability bias. The study may also be limited by the reliability and validity of the measures used to capture the fear and worries, trust and prevention indices.Originality/valueNumerous studies have examined the impact of the COVID-19 pandemic on rural migrants. However, there are limited studies that estimate the impact of the proposed study based on the challenges faced by rural migrants in Bihar during the pandemic.","PeriodicalId":508444,"journal":{"name":"Journal of Economic and Administrative Sciences","volume":"42 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139794599","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}