Template-Type: ReDIF-Article 1.0 Author-Name: Ronaldo De Oliveira Santos Jhunior Author-X-Name-First: Ronaldo De Oliveira Santos Author-X-Name-Last: Jhunior Author-Name: Gustavo Abib Author-X-Name-First: Gustavo Author-X-Name-Last: Abib Author-Name: Fabricio Stocker Author-X-Name-First: Fabricio Author-X-Name-Last: Stocker Title: Business across borders: perceptions of political risk in internationalised Brazilian companies Abstract: Brazil is an emerging country in terms of political, economic, and social development. Its companies are usually in a scenario of instability, especially since mid-2010. In this context, the paper provides unpublished evidence on political risk perception in companies of diverse branches. The purpose of this study is to analyse the perception of political risk in business abroad by managers of internationalised Brazilian companies. Qualitative and descriptive research was conducted in a multiple case study through document collection and semi-structured interviews. The internationalisation processes of six small and medium-sized Brazilian companies and their managers' political risk perception were investigated. The findings reveal the political risk factors inherent to different environments for internationalised companies in a context of political and economic uncertainties, namely, the internal environment, the external environment and the environment related to the organisation itself. Journal: Int. J. of Business and Emerging Markets Pages: 170-188 Issue: 2 Volume: 14 Year: 2022 Keywords: risk perception; political risk; international business; internationalisation process. File-URL: http://www.inderscience.com/link.php?id=121875 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:2:p:170-188 Template-Type: ReDIF-Article 1.0 Author-Name: Yohanes Indrayono Author-X-Name-First: Yohanes Author-X-Name-Last: Indrayono Title: Firm nominal value and the role of some accounting information: an investigation of Indonesian listed firms Abstract: This study introduces the firm's nominal value rather than using market value only in the stock market, which should be considered by investors and firm management when they make decisions. This research work examines the accounting information's effect, which comprises the earnings, sales, book value per share, and operating profit of firm's nominal value of the stock. This study uses regression analysis with 184 non-financial Indonesian listed sample firms from thirteen industries for the period 2007-2016. The result is that the firm's accounting information, namely the earnings, sales, book value per share and operating profit has a significant influence on the firm's nominal worth. In order to make a better decision in stock markets, it is suggested that investors and firm management should use the firm's nominal value and certain accounting parameter, which include the earnings worth per share, book value, sales and operating profit to predict the stock market price. Journal: Int. J. of Business and Emerging Markets Pages: 142-155 Issue: 2 Volume: 14 Year: 2022 Keywords: firm nominal value; earnings per share; book value; sales; operating profit. File-URL: http://www.inderscience.com/link.php?id=121889 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:2:p:142-155 Template-Type: ReDIF-Article 1.0 Author-Name: Monia Antar Author-X-Name-First: Monia Author-X-Name-Last: Antar Title: Efficiency classification among MENA region stock markets indexes: insights from multifractal spectrum and MSM forecasts Abstract: This paper proposes an efficiency ranking of the stock-market indexes in the MENA region based on the scale-invariant characteristics of stock returns. The methodology involves the computation of the multifractal spectrum width. This study also estimates a Markov switching multifractal (MSM) model and uses it to forecast stock-return volatility. The value of the loss function associated with the volatility forecasts provides an alternative metric to gauge the efficiency of the stock market. It was found that the ranking based on the MSM model forecasts shows some inconsistencies with that based on the spectrum width, suggesting that the MSM model does not perform as well in predicting stock-market volatility in emerging markets as it does in developed countries. Journal: Int. J. of Business and Emerging Markets Pages: 189-212 Issue: 2 Volume: 14 Year: 2022 Keywords: multifractal spectrum width; efficiency; volatility prediction; Markov switching multifractal; MSM simulation; MENA emerging markets. File-URL: http://www.inderscience.com/link.php?id=121899 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:2:p:189-212 Template-Type: ReDIF-Article 1.0 Author-Name: Ataina Hudayati Author-X-Name-First: Ataina Author-X-Name-Last: Hudayati Author-Name: Titis Khairun Nisa Author-X-Name-First: Titis Khairun Author-X-Name-Last: Nisa Author-Name: Zuraidah Mohd Sanusi Author-X-Name-First: Zuraidah Mohd Author-X-Name-Last: Sanusi Title: Financial pressure and related party transactions on financial statement fraud: fraud triangle perspective Abstract: This study aims to analyse the effect of financial pressure (financial stability, personal financial need and financial targets) and related party transactions (RPTs) on financial statement fraud. Respondents of the study are manufacturing companies listed on the Indonesia Stock Exchange for the years 2011 to 2015. By using fixed effect panel regressions, the survey results show that financial stability as measured by sales divided by total asset and RPTs negatively affect financial statement fraud. In addition, financial targets have a significant positive effect on financial statement fraud. However, this study shows that personal financial need does not affect the financial statement fraud. This study provides several important conclusions. First, companies are in a stable financial condition, enabling them to reduce their financial report fraud. Second, the findings suggest the possibility of a negative impact on the quality of financial statements due to the use of financial performance targets such as ROA. Third, the result of the study which states that RPTs negatively affect fraudulent financial statements implies that in Indonesia with reference to manufacturing companies, RPTs do not reflect negative behaviour or even vice versa. Journal: Int. J. of Business and Emerging Markets Pages: 213-230 Issue: 2 Volume: 14 Year: 2022 Keywords: pressure; related party transactions; RPTs; financial statement fraud; FSF. File-URL: http://www.inderscience.com/link.php?id=121903 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:2:p:213-230 Template-Type: ReDIF-Article 1.0 Author-Name: Ladi Raulatu Balakeffi Author-X-Name-First: Ladi Raulatu Author-X-Name-Last: Balakeffi Author-Name: Victor Ugbem Oboh Author-X-Name-First: Victor Ugbem Author-X-Name-Last: Oboh Author-Name: Adegoke Ibrahim Adeleke Author-X-Name-First: Adegoke Ibrahim Author-X-Name-Last: Adeleke Author-Name: Shamsuddeen Zubair Imam Author-X-Name-First: Shamsuddeen Zubair Author-X-Name-Last: Imam Author-Name: Grace George Bikefe Author-X-Name-First: Grace George Author-X-Name-Last: Bikefe Title: Electoral uncertainty and the volatility of international capital flows in Nigeria Abstract: This study examines the effects of changing political environment on capital flows and investment decision making especially in developing economies like Nigeria. It utilises structural vector autoregressive (SVAR) and Granger causality test to analyse the objectives of the study. The results indicate that shocks from political events have negative impact on the exchange rate with resultant rising positive treasury bill rates. The implication of these results is that attractiveness of yields in the Nigerian financial market appears to outweigh the political uncertainty consideration by investors during the electioneering periods. Though, these political events have depreciating effects on the foreign exchange market. The study, therefore, recommends that a government that is desirous of achieving optimal capital flows must adopt an appropriate mix of fiscal, structural and monetary policies, before, during and after the electioneering period. Journal: Int. J. of Business and Emerging Markets Pages: 349-373 Issue: 4 Volume: 14 Year: 2022 Keywords: electoral uncertainty; capital flows; structural vector autocorrelation; SVAR; Granger causality; Nigeria. File-URL: http://www.inderscience.com/link.php?id=126540 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:4:p:349-373 Template-Type: ReDIF-Article 1.0 Author-Name: Rexford Abaidoo Author-X-Name-First: Rexford Author-X-Name-Last: Abaidoo Author-Name: Elvis Kwame Agyapong Author-X-Name-First: Elvis Kwame Author-X-Name-Last: Agyapong Title: Banking industry instability, governance and development: empirical evidence from Sub-Saharan Africa Abstract: This empirical study assesses the effect of instability in the banking industry and quality of governance on development in the sub-region of Sub-Saharan Africa (SSA) using data compiled from 40 countries from 1996 to 2018. Two-step system generalised method of moments (TSS-GMM) model based empirical estimates suggest that instability in the banking sector hinders development in the sub-region all things being equal. Improvement in quality of governance is however found to have positive influence on development among economies in the sub-region. Again, the results of the study suggest that governance quality lessens adverse effect of banking industry instability on development all things being equal. The importance of stability in banking industry and improved governance among economies in the sub-region is thus, affirmed by this study's empirical conclusions. Journal: Int. J. of Business and Emerging Markets Pages: 374-395 Issue: 4 Volume: 14 Year: 2022 Keywords: banking industry instability; development; governance; GMM model; two-step system generalised method of moments; TSS-GMM; Africa. File-URL: http://www.inderscience.com/link.php?id=126579 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:4:p:374-395 Template-Type: ReDIF-Article 1.0 Author-Name: Azira Abdul Adzis Author-X-Name-First: Azira Abdul Author-X-Name-Last: Adzis Author-Name: Woei Chyuan Wong Author-X-Name-First: Woei Chyuan Author-X-Name-Last: Wong Author-Name: Sabariah Nordin Author-X-Name-First: Sabariah Author-X-Name-Last: Nordin Author-Name: Abd Halim Ahmad Author-X-Name-First: Abd Halim Author-X-Name-Last: Ahmad Author-Name: Shamsul Bahrain Mohamed-Arshad Author-X-Name-First: Shamsul Bahrain Author-X-Name-Last: Mohamed-Arshad Title: Analysing the impact of ESG on the performance of Malaysian public-listed companies Abstract: This study examines the impact of environmental, social and governance (ESG) practices on the performance of 924 public-listed companies in Malaysia, using a two-stage Heckman sample selection model covering the period from 2005 to 2018. The findings indicate that ESG has a positive and significant impact on the market and financial performance, supporting the stakeholder theory, where firms that engage in social responsibility will have a better performance. The findings provide valuable insights on the importance of ESG practices in Malaysia, a country that is practically weak in dealing with the environmental issues in the Asia-Pacific region. Journal: Int. J. of Business and Emerging Markets Pages: 415-434 Issue: 4 Volume: 14 Year: 2022 Keywords: ESG; performance; public-listed companies; Malaysia. File-URL: http://www.inderscience.com/link.php?id=126581 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:4:p:415-434 Template-Type: ReDIF-Article 1.0 Author-Name: Austin Dejan Author-X-Name-First: Austin Author-X-Name-Last: Dejan Author-Name: M. Kabir Hassan Author-X-Name-First: M. Kabir Author-X-Name-Last: Hassan Author-Name: Ibrahim Siraj Author-X-Name-First: Ibrahim Author-X-Name-Last: Siraj Author-Name: Arja Turunen-Red Author-X-Name-First: Arja Author-X-Name-Last: Turunen-Red Title: On the relation between credit market disruption and corporate social responsibility Abstract: We exploit the staggered interstate banking and branching deregulation in the US to examine the causal impact of bank competition on corporate socially responsible (CSR) activities. Using financial and CSR practice information of 3,436 unique US firms for 1991-2005, we find strong and robust evidence that bank deregulation significantly and negatively affects CSR activities. Firms operating in high margin industries with low market power and financially constrained firms in external finance dependent industries particularly show a negative relation between deregulation and CSR activities. Additionally, firms with excessive leverage and firms that are more exposed to out of state banks tend to experience a substantial decrease in CSR activities. Overall, our findings imply that banking deregulation has led non-financial firms to be more concerned about protecting shareholder interests at other stakeholders' expense. Our results are robust to the use of alternative empirical specifications and CSR measures. Journal: Int. J. of Business and Emerging Markets Pages: 107-141 Issue: 2 Volume: 14 Year: 2022 Keywords: banking competition; product market competition; social responsibility; access to finance. File-URL: http://www.inderscience.com/link.php?id=121976 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:2:p:107-141 Template-Type: ReDIF-Article 1.0 Author-Name: Fernando Garcia Author-X-Name-First: Fernando Author-X-Name-Last: Garcia Author-Name: Maria Carolina Duarte Hammontree Author-X-Name-First: Maria Carolina Duarte Author-X-Name-Last: Hammontree Author-Name: Pedro Duarte Author-X-Name-First: Pedro Author-X-Name-Last: Duarte Author-Name: Marilyn M. Helms Author-X-Name-First: Marilyn M. Author-X-Name-Last: Helms Title: Adaptations of multinational subsidiaries for surviving host country crises: a case study of Venezuela Abstract: This study examines Venezuelan subsidiaries of multinational enterprises, analysing how companies adapt and survive in adverse business environments. Despite the prolonged, persistent Venezuelan crisis, there are multinationals that remain operational while facing government intervention threats, rampant inflation, currency shortages, and unfavourable labour laws. Using a case study approach, four subsidiaries are explored through face-to-face and telephone interviews with company managers, each representing distinct economic activities and business sectors. We found companies surviving the Venezuelan crisis developed new adaptation capabilities, including the ability to shorten the existing power distance, substitute limited resources, retain key talent, and obtain alternate funding sources. Understanding how these adaptation capabilities allow firms to operate in crisis provides valuable insights for managers and academicians and advances crisis management literature. Practical implications and areas for future research are discussed. Journal: Int. J. of Business and Emerging Markets Pages: 396-414 Issue: 4 Volume: 14 Year: 2022 Keywords: adaptation; crisis; survival; multinational enterprises; case study; Venezuela. File-URL: http://www.inderscience.com/link.php?id=126584 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:4:p:396-414 Template-Type: ReDIF-Article 1.0 Author-Name: Lovemore Chikazhe Author-X-Name-First: Lovemore Author-X-Name-Last: Chikazhe Author-Name: Farirayi Jecha Author-X-Name-First: Farirayi Author-X-Name-Last: Jecha Author-Name: Brighton Nyagadza Author-X-Name-First: Brighton Author-X-Name-Last: Nyagadza Author-Name: Thomas Bhebhe Author-X-Name-First: Thomas Author-X-Name-Last: Bhebhe Author-Name: Josphat Manyeruke Author-X-Name-First: Josphat Author-X-Name-Last: Manyeruke Title: Mediators of the effect of corporate social responsibility on product uptake: insights from the insurance sector in Harare, Zimbabwe Abstract: Factors influencing product uptake are critical in emerging markets especially within the services industry. Thus, the study's major objective was to examine the factors that influence product uptake within the insurance sector where the uptake process is not easy in the absence of other factors like corporate social responsibility, product awareness and corporate image. Through a cross-sectional survey, data were collected from 225 Zimbabwean insurance industry workers. The findings indicate that corporate social responsibility, product awareness and corporate image directly influence product uptake. Moreover, the findings show that both corporate image and product awareness play a significant role in mediating the effect of corporate social responsibility on product uptake within the insurance sector. The current study extends previous works within the field of services marketing domain in emerging markets by incorporating product awareness and corporate image as mediators of the effect of corporate social responsibility on product uptake. Journal: Int. J. of Business and Emerging Markets Pages: 435-453 Issue: 4 Volume: 14 Year: 2022 Keywords: corporate image; corporate social responsibility; CSR; product awareness; product uptake; Zimbabwe. File-URL: http://www.inderscience.com/link.php?id=126586 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:4:p:435-453 Template-Type: ReDIF-Article 1.0 Author-Name: Leran Guan Author-X-Name-First: Leran Author-X-Name-Last: Guan Author-Name: Jongwook Kwon Author-X-Name-First: Jongwook Author-X-Name-Last: Kwon Title: Mapping research on competitive strategy in international business journals: a co-citation analysis Abstract: The competitive strategy (CS) literature in international business (IB) journals in the last two decades has constituted a considerable database. But few studies have adopted bibliometric methods to map a comprehensive overview of these publications. Thus, a quantitative bibliometric review summarising and integrating what we know to identify and suggest future directions for researchers is necessary. Information on 1,099 articles was obtained from the Web of Science. CiteSpace was used to perform a comprehensive bibliometric analysis. By document co-citation analysis, three main emerging research trends, which are the expansion of emerging market multinational enterprises, a mediator linking resources and the international performance, and the political dimension of intra-firm competition, were identified. We also detected the core authors, institutions, countries/regions, and cited journals to present the quantitative overview of the active researchers and their affiliations for promoting academic collaboration of future research. It can support researchers by offering a quantitative overview of the evolution and current status of CS research in IB environments and be helpful for researchers to efficiently identify the research network and to promote a deeper understanding of the CS research status in IB environments. Journal: Int. J. of Business and Emerging Markets Pages: 38-62 Issue: 1 Volume: 14 Year: 2022 Keywords: competitive strategy; international business; co-citation analysis; CiteSpace. File-URL: http://www.inderscience.com/link.php?id=119421 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:1:p:38-62 Template-Type: ReDIF-Article 1.0 Author-Name: Tuan Zainun Tuan Mat Author-X-Name-First: Tuan Zainun Tuan Author-X-Name-Last: Mat Author-Name: Nor Azlina Mohd Saad Author-X-Name-First: Nor Azlina Mohd Author-X-Name-Last: Saad Author-Name: Roshayani Arshad Author-X-Name-First: Roshayani Author-X-Name-Last: Arshad Author-Name: Saiyidi Mat Roni Author-X-Name-First: Saiyidi Mat Author-X-Name-Last: Roni Author-Name: Sharina Tajul Urus Author-X-Name-First: Sharina Tajul Author-X-Name-Last: Urus Title: Accountability through budget performance: a study on budget adequacy and participation of Malaysian local government Abstract: Budget mirrors local authorities' effective and efficient resource allocation practices. In many cases, however, a tendency toward budget slack raises genuine concern among stakeholders who participate in and are affected by the budget. The budget slack potentially exerts bias in the budgeting process which is detrimental to the accountability of local authorities. On this premise, this study aims to examine the influence of budget participation and budget adequacy on the budget performance of local governments in Malaysia and how accountability could be promoted through high budget performance. A survey-based instrument was used to collect the data for this study from various local authorities in Klang Valley. A total of 110 responses were obtained representing a 73% response rate. Partial least square (PLS) structural equation modelling results showed that the effect of budgetary participation on budget performance is direct and also mediated by budget adequacy. This implies, among others, that while participation in the budgeting process can enhance budget performance, the effect is also contingent on the adequacy of resources the participants are presented with. Journal: Int. J. of Business and Emerging Markets Pages: 86-105 Issue: 1 Volume: 14 Year: 2022 Keywords: accountability; budget adequacy; budget participation; budget performance; local government. File-URL: http://www.inderscience.com/link.php?id=119426 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:1:p:86-105 Template-Type: ReDIF-Article 1.0 Author-Name: Nurul Hannani Hashim Author-X-Name-First: Nurul Hannani Author-X-Name-Last: Hashim Author-Name: Nadiah Abd Hamid Author-X-Name-First: Nadiah Abd Author-X-Name-Last: Hamid Author-Name: Soliha Sanusi Author-X-Name-First: Soliha Author-X-Name-Last: Sanusi Author-Name: Nor Farizal Mohammed Author-X-Name-First: Nor Farizal Author-X-Name-Last: Mohammed Title: The impact of e-filing usage on the job performance of tax agents in Malaysia Abstract: E-filing has brought many positive impacts to all users including the tax agents since its introduction in 2004. Despite its benefits to the tax agents, there are also setbacks in the system in terms of functionality, information quality, tax agents' knowledge, and infrastructure issues that impede the accuracy of data in the tax preparation process. Hence, by using a questionnaire survey, this study intends to identify the factors influencing the job performance of tax agents in the tax preparation process via the e-filing system. The findings revealed that the most significant factor influencing the job performance of tax agents is functionality and followed by information quality. In essence, this study serves as a medium for tax agents to voice out their insights regarding the system. This also benefits both IRBM and the government since they can further increase the efficiency and effectiveness of the tax administration system. Journal: Int. J. of Business and Emerging Markets Pages: 63-85 Issue: 1 Volume: 14 Year: 2022 Keywords: e-filing; tax agents; job performance; information quality; functionality; Malaysia. File-URL: http://www.inderscience.com/link.php?id=119427 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:1:p:63-85 Template-Type: ReDIF-Article 1.0 Author-Name: Lance Brouthers Author-X-Name-First: Lance Author-X-Name-Last: Brouthers Author-Name: George Nakos Author-X-Name-First: George Author-X-Name-Last: Nakos Author-Name: Ted Randall Author-X-Name-First: Ted Author-X-Name-Last: Randall Title: Advantages of indigenousness and firms from emerging economies Abstract: This paper develops and tests a new concept called the 'advantages of indigenousness' (AOI). The AOI concept suggests that: 1) local emerging economy firms can create defendable product markets based on specific advantages that stem from being an indigenous firm; 2) firms using these advantages have superior performance when compared to local firms that do not. Based on this new concept we generate and test three hypotheses on a sample of 382 Romanian domestic firms. Our findings show that companies emphasising their local connection by promoting the local manufacturing of their products, as well as the ones that utilise an umbrella branding strategy tend to have stronger performance. No support was found for a positive impact on performance by the employment of tight delivery schedules. Journal: Int. J. of Business and Emerging Markets Pages: 20-37 Issue: 1 Volume: 14 Year: 2022 Keywords: advantages of indigenousness; Romanian firms; emerging market firms; umbrella branding. File-URL: http://www.inderscience.com/link.php?id=119428 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:1:p:20-37 Template-Type: ReDIF-Article 1.0 Author-Name: Van Duong Ha Author-X-Name-First: Van Duong Author-X-Name-Last: Ha Title: The relationship between the social performance and operational sustainability of Vietnam's formal microfinance institutions Abstract: Operational sustainability and social performance are factors affecting the operations and goals of the microfinance institutions (MFIs). The major intention of this study was to discover the interaction between social performance and operational sustainability and to examine factors that affect the social performance and operational sustainability of formal MFIs. The study analysed in panel data with three models from 2010 to 2018 of (36) all formal MFIs in Vietnam. The results found bidirectional interactions between the social performance and operational sustainability. In particular, there was the interactive relationship between breadth of outreach and operational sustainability in a positive trend, there was a trade-off between depth of outreach and operational sustainability. This study offers policy implication and new insights for developing more sustainable formal MFIs going forward. Journal: Int. J. of Business and Emerging Markets Pages: 1-19 Issue: 1 Volume: 14 Year: 2022 Keywords: breath of outreach; depth of outreach; microfinance institution; operational sustainability; social performance. File-URL: http://www.inderscience.com/link.php?id=119429 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:1:p:1-19 Template-Type: ReDIF-Article 1.0 Author-Name: Hari Gursida Author-X-Name-First: Hari Author-X-Name-Last: Gursida Author-Name: Yohanes Indrayono Author-X-Name-First: Yohanes Author-X-Name-Last: Indrayono Title: The effect of managerial choices around liquidity, leverage, and company size on corporate bond yield: a case study from Indonesia Abstract: This study uses structural equation modelling (SEM) to chart the effects on bond yield of managerial choices around capital structure, as captured by company size, leverage and liquidity. Results are based on a sample of 22 Indonesian companies, over the period 2012-2016. The study contributes to an understanding of the effects that managerial choices around financing strategies exert on bond yield. It finds that only company size has a statistically significant direct effect on bond yield. When company size is held as a moderator variable, both leverage and liquidity display positive indirect effects. The aggregate effect of leverage on yield is positive, and that of liquidity is negative, when company size is employed as a moderator variable. A secondary result is that different accounting definitions of leverage and liquidity may alter the direction of the estimated effect, thereby recommending caution in basing financing strategies solely on accounting metrics. Journal: Int. J. of Business and Emerging Markets Pages: 156-169 Issue: 2 Volume: 14 Year: 2022 Keywords: liquidity; leverage; company size; bond yield; Indonesia. File-URL: http://www.inderscience.com/link.php?id=121761 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:2:p:156-169 Template-Type: ReDIF-Article 1.0 Author-Name: James Temitope Dada Author-X-Name-First: James Temitope Author-X-Name-Last: Dada Title: Exchange rate regime and economic growth in Nigeria: evidence from sectoral level Abstract: The purpose of this study is to examine the effect of the exchange rate regime on sectoral output in Nigeria from 1970 to 2017. The study centres on six sectors namely: mining and quarrying, telecommunication, agricultural, manufacturing, building and construction, and retail and business trade. A dummy variable is used to capture the effect of the exchange rate regime, while generalised method of moments (GMM) is used as the estimation technique. The findings from the study reveal that both fixed and flexible exchange rates have positive and significant effects on sectoral output in Nigeria. However, the impact of fixed exchange rate on output is greater felt than the flexible exchange rate in Nigeria. The study concludes that the exchange rate regime matters for growth in developing countries. Journal: Int. J. of Business and Emerging Markets Pages: 231-251 Issue: 3 Volume: 14 Year: 2022 Keywords: exchange rate; exchange rate regime; economic growth; sectoral output; generalise method of moments; GMM. File-URL: http://www.inderscience.com/link.php?id=123825 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:3:p:231-251 Template-Type: ReDIF-Article 1.0 Author-Name: Jia Jia Hing Author-X-Name-First: Jia Jia Author-X-Name-Last: Hing Author-Name: Yee Peng Chow Author-X-Name-First: Yee Peng Author-X-Name-Last: Chow Title: Influence of institutional investor heterogeneity on stock liquidity and its underlying liquidity channels Abstract: This paper investigates the influence of institutional investor heterogeneity (i.e., active and passive institutional investors) and the underlying liquidity channels (i.e., information asymmetry and trading activity channels) through which these institutional investor groups affect stock liquidity. Drawing on a sample of listed firms in Malaysia from 2012 to 2018, this paper employs the pooled ordinary least squares method to conduct the empirical tests. Initially, the empirical results based on the linear model show that the association between institutional investor shareholdings and stock liquidity is solely attributed to the active institutional investors. Further tests using the quadratic model reveal that a non-monotonic relationship arises between shareholdings by both active and passive institutional investors and stock liquidity due to competing liquidity channels. In particular, passive institutional investors improve stock liquidity due to lower level of information asymmetry, while active institutional investors improve stock liquidity by enhancing the level of trading activity. Journal: Int. J. of Business and Emerging Markets Pages: 252-278 Issue: 3 Volume: 14 Year: 2022 Keywords: institutional investor heterogeneity; active institutional investors; passive institutional investors; liquidity channels; information asymmetry; trading activity; stock liquidity. File-URL: http://www.inderscience.com/link.php?id=123840 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:3:p:252-278 Template-Type: ReDIF-Article 1.0 Author-Name: Tshegofatso A. Monkge Author-X-Name-First: Tshegofatso A. Author-X-Name-Last: Monkge Author-Name: Rina Makgosa Author-X-Name-First: Rina Author-X-Name-Last: Makgosa Title: Cultural values, intensity of religiosity and consumer attitudes towards promotion of funeral products: insights from Botswana Abstract: This paper investigates the relative importance of intensity of religiosity and cultural values on consumer attitudes towards promotion of funeral products. Data was collected from a sample of 457 urban Christian consumers in Gaborone, Botswana through a structured questionnaire. The results reveal that consumers with a high level of intensity of religiosity exhibit positive and significant evaluations about the promotion of funeral products. Further results relating to cultural values demonstrate that those who attach more value to power and tradition express negative beliefs and evaluations about the promotion of funeral products. However, consumers who attach more importance to universalism and security display positive beliefs and evaluations with regard to promotion of funeral products. This study provides insight into the predictive ability of intensity of religiosity and cultural values using an under-studied product and context of a developing country, Botswana. Additional insights revealed that older, highly educated and employed consumers tend to project positive attitudes towards the promotion of funeral products than their counterparts. The paper also offers implications for the development of promotional strategies associated with funeral products drawing insights from intensity of religiosity, cultural values, and demographic characteristics. Journal: Int. J. of Business and Emerging Markets Pages: 296-318 Issue: 3 Volume: 14 Year: 2022 Keywords: Botswana; controversial products; consumer attitudes; cultural values; funeral products; intensity of religiosity. File-URL: http://www.inderscience.com/link.php?id=123860 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:3:p:296-318 Template-Type: ReDIF-Article 1.0 Author-Name: Muhammed Esat Erdoğan Author-X-Name-First: Muhammed Esat Author-X-Name-Last: Erdoğan Author-Name: Dilşah Ertop Author-X-Name-First: Dilşah Author-X-Name-Last: Ertop Author-Name: Reşit Yiğit Okan Author-X-Name-First: Reşit Yiğit Author-X-Name-Last: Okan Title: Linking organisational justice and work engagement: mediating role of trust Abstract: This study aims to focus on the relationship between organisational justice, trust, and work engagement by testing the impact of organisational justice on work engagement through the mediating role of trust. Data from this study were collected from 396 employees working in different sectors in Turkey. Results showed that: 1) organisational justice has impact on the work engagement; 2) trust has impact on the work engagement; 3) organisational justice influences the level of trust; 4) trust has a partial mediation role between organisational justice and work engagement. The results bring theoretical and practical implications for organisation theory and behaviour research by broadening the scope of research from understanding basic dimensions to designing an extended framework that connects justice, trust and engagement. Accordingly, organisations need to reconsider or revise their managerial approaches in order to achieve increased organisational justice, trust, and work engagement. Journal: Int. J. of Business and Emerging Markets Pages: 319-347 Issue: 3 Volume: 14 Year: 2022 Keywords: justice; organisational justice; trust; engagement; work engagement. File-URL: http://www.inderscience.com/link.php?id=123867 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:3:p:319-347 Template-Type: ReDIF-Article 1.0 Author-Name: A.F.M. Jalal Ahamed Author-X-Name-First: A.F.M. Jalal Author-X-Name-Last: Ahamed Title: The effect of demographic characteristics on considerations of future consequences and compulsive buying and their interlinks Abstract: This study aims to examine the impacts of demographic variables (gender, age, and income) on consideration of future consequences (CFCs) and compulsive buying tendencies (CBT). It also investigates if and to what extent the demographic characteristics might influence the effect of CFC on CBT. Data for this study were collected from 394 adult respondents using a self-administered survey. The structural equation model in AMOS reveals that consideration of future (CFC-F) has a significant negative effect on CBT, whereas consideration of immediate (CFC-I) has no significant effect. In addition, the multi-group analysis found that the influence of CFC on CBT does not change across genders, yet it varies with income and age differences. These novel insights into consumer behaviour have implications for both research and practice. Journal: Int. J. of Business and Emerging Markets Pages: 279-295 Issue: 3 Volume: 14 Year: 2022 Keywords: Bangladesh; consideration of future; CFC-F; consideration of immediate; CFC-I; compulsive buying tendency; CBT; multi-group analysis. File-URL: http://www.inderscience.com/link.php?id=123873 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbema:v:14:y:2022:i:3:p:279-295