Recent Submissions

  • Real exchange rate and asymmetric shocks in the West African Monetary Zone (WAMZ)

    Adu, R.; Litsios, Ioannis; Baimbridge, Mark J. (2019)
    This paper examines real effective exchange rate (REER) responses to shocks in exchange rate determinants for the West African Monetary Zone (WAMZ) over the period 1980–2015. The analysis is based on a country-by-country VECM, and oil price, supply and demand shocks are identified using long run restrictions in a structural VAR model. We report significant differences in the response of REER to real oil price, productivity (supply) and demand preference shocks across these economies. In addition the relative contribution of these shocks to REER movements in the short and long run appears to be different across economies. Our findings suggest that the WAMZ countries are structurally different, and asymmetric shocks with inadequate adjustment mechanisms imply that a monetary union would be costly.
  • Consumption of salt rich products: impact of the UK reduced salt campaign

    Sharma, Abhijit; di Falco, S.; Fraser, I. (2019)
    This paper uses a leading UK supermarket’s loyalty card database to assess the effectiveness and impact of the 2004 UK reduced salt campaign. We present an econometric analysis of purchase data to assess the effectiveness of the Food Standard Agency’s (FSA) ‘reduced salt campaign’. We adopt a general approach to determining structural breaks in the time series of purchase data, using unit root tests whereby structural breaks are endogenously determined from the data. We find only limited evidence supporting the effectiveness of the FSA’s reduced salt campaign. Our results support existing findings in the literature that have used alternative methodologies to examine the impact of information campaigns on consumer choice of products with high salt content.
  • Evaluating Digital Public Services: a contingency value approach within three ‘exemplar’ sub-Sahara developing countries

    Tassabehji, Rana; Hackney, R.; Maruyama, Takao (2019)
    This paper considers recent field evidence to analyse what online public services citizens need, explores potential citizen subsidy of these specific services and investigates where resources should be invested in terms of media accessibility. We explore these from a citizen-centric affordability perspective within three ‘exemplar’ developing countries in sub-Saharan Africa. The World Bank and United Nations in particular promote initiatives under the ‘Information and Communication Technologies for Development’ (ICT4D) to stress the relevance of e-Government as a way to ensure development and reduce poverty. We adopt a ‘Contingency Value’ method to conceptually outline reported citizens willingness to pay for digital public services. Hence, our focus is mainly upon an empirical investigation through extensive fieldwork in the context of sub-Sahara Africa. A substantive survey was conducted in the respective cities of Addis Ababa (Ethiopia), Lagos (Nigeria) and Johannesburg (South Africa). The sample of citizens was drawn from each respective Chamber of Commerce database for Ethiopia and South Africa, and for Nigeria a purchased database of businesses, based on stratified random sampling. These were randomly identified from both sectors ensuring all locations were covered with a total sample size of 1,297 respondents. It was found, in particular, that citizens were willing to pay to be able to access digital public services and that amounts of fees they were willing to pay varied depending on what services they wish to access and what devices they use (PCs or mobile phones).
  • Big Data Analytics and Business Failures in Data-Rich Environments: An Organizing Framework

    Amankwah-Amoah, J.; Adomako, Samuel (2019-02)
    In view of the burgeoning scholarly works on big data and big data analytical capabilities, there remains limited research on how different access to big data and different big data analytic capabilities possessed by firms can generate diverse conditions leading to business failure. To fill this gap in the existing literature, an integrated framework was developed that entailed two approaches to big data as an asset (i.e. threshold resource and distinctive resource) and two types of competences in big data analytics (i.e. threshold competence and distinctive/core competence). The analysis provides insights into how ordinary big data analytic capability and mere possession of big data are more likely to create conditions for business failure. The study extends the existing streams of research by shedding light on decisions and processes in facilitating or hampering firms’ ability to harness big data to mitigate the cause of business failures. The analysis led to the categorization of a number of fruitful avenues for research on data-driven approaches to business failure.
  • Sticks or carrots? How to make British Banks more socially responsible

    Kapsis, Ilias (2019-03)
    The relationship between banks and society in UK remains fragile more than 10 years after the financial crisis. The level of public mistrust, though lower than in the aftermath of the crisis, still re-mains at unsatisfactory levels especially as scandals continue to plague the sector. This raises the question of the effectiveness of reforms adopted in UK during the past 10 years to improve the public oversight of banks and change their culture. The reforms resulted in a significant expansion of the scope of financial regulation through the adoption of large numbers of new rules with binding effect on banks. In addition, new supervisory bodies were created to more closely monitor bank activities. This paper reviews the effects of the reforms on bank culture and concludes that expanded regulation and compulsory norms brought about mixed results and had only moderate effect on re-pairing the relationship between banks and UK society. The paper argues that more significant cultural change could come only from the banks themselves and therefore, going forward, the scope of compulsory norms should be reduced. The paper contributes to the ongoing dialogue between industry experts, policy makers and lawyers about the optimum levels of financial regulation especially in light of recent calls for rolling back parts of public interventions in the financial sector.
  • A case analysis of E-government service delivery through a service chain dimension

    Weerakkody, Vishanth J.P.; El-Haddadeh, R.; Sivarajah, Uthayasankar; Omar, A.; Molnar, A. (2019)
    Unlike e-business few studies have examined how information is generated and exchanged between stakeholders in an e-government service chain to generate value for citizens. This case study applies the concept of service chains to empirically explore: a) how internal and external business activities in local government authorities (LGAs) contribute to electronic service delivery, and b) the impact that internal and external stakeholders have on these activities. The case study found that the diversity of stakeholders involved and lack of appropriate mechanisms for information exchange and collaboration are posing the biggest challenges for efficient local egovernment service delivery.
  • Exploring Consumer and Patient Knowledge, Behavior, and Attitude Toward Medicinal and Lifestyle Products Purchased From the Internet: A Web-Based Survey

    Assi, S.; Thomas, J.; Haffar, Mohamed; Osselton, D. (2016-07-18)
    In recent years, lifestyle products have emerged to help improve people’s physical and mental performance. The Internet plays a major role in the spread of these products. However, the literature has reported issues regarding the authenticity of medicines purchased from the Internet and the impact of counterfeit medicines on public health. Little or no data are available on the authenticity of lifestyle products and actual toxicity associated with their use and misuse. Our aim was to investigate consumer and patient attitudes toward the purchase of lifestyle products from the Internet, their knowledge of product authenticity and toxicity, and their experiences with counterfeit lifestyle products. A Web-based study was performed between May 2014 and May 2015. Uniform collection of data was performed through an anonymous online questionnaire. Participants were invited worldwide via email, social media, or personal communication to complete the online questionnaire. A total of 320 participants completed the questionnaire. The results of the questionnaire showed that 208 (65.0%) participants purchased lifestyle products from the Internet mainly due to convenience and reduced cost. More than half (55.6%, 178/320) of participants purchased cosmetic products, whereas only a minority purchased medicinal products. Yet, 62.8% (201/320) of participants were aware of the presence of counterfeit lifestyle products from the Internet, and 11.9% (38/320) experienced counterfeit products. In only 0.9% (3/320) of those cases were counterfeit lifestyle products reported to authorities. Moreover, 7.2% (23/320) of the participants experienced adverse effects due to counterfeit lifestyle products. In summary, patients experienced counterfeit lifestyle products that resulted in adverse effects on their health. Although certain adverse effects were reported in this study, counterfeit products were underreported to authorities. Further public awareness campaigns and patient education are needed.
  • Problematic theoretical considerations of monetary unions

    Baimbridge, Mark J. (2018-10)
    Although the eurozone sovereign debt crisis took many by surprise following the Global Financial Crisis induced Great Recession, this chapter argues that this was an accident waiting to happen with unjustified emphasis placed upon unproven rules and institutions derived from contemporary neoliberal macroeconomic thinking. First, recent developments in macroeconomic are discussed and evaluated in terms of the so-called New Consensus Macroeconomics (NCM) that forms the current mainstream macroeconomic model comprising a blend of New Classical and New Keynesian theories is through adopting the rational behaviour hypothesis and supply-side-determined long-term equilibrium of output. A particular feature of these ideas is the inclusion of rules and institutions that are perceived to result in time consistent policymaking through essentially binding politicians from undertaking in non-optimal behaviour for either opportunistic, partisan or non-rational expectations reasons. Second, in addition to the general backdrop of macroeconomics the chapter considers the notion of a monetary union between countries under the rubric of both exogenous and endogenous Optimum Currency Area (OCA) theory. This combination of theoretical propositions form the bedrock of the eurozone where the TEU convergence criteria and SGP form the rules, while the European Central Bank is the key institution tasked with delivering low and stable price inflation. However, although these notions have become the staple diet of a generation of mainstream economists they comprehensively failed to insulate the eurozone from its sovereign debt crisis.
  • Doomed to fail? Convergence and the Eurozone crisis

    Baimbridge, Mark J.; Khadzhieva, Dzheren (2018-10)
    This chapter reviews the substantive issue of monetary union through evaluating countries readiness for entry utilising the experience of the European Union’s process of Economic and Monetary Union (EMU). The European single currency system came under unprecedented strain following the Global Financial Crisis induced Great Recession and there is little reason to assume that this will diminish, in any significant way, in the near future. Crucially it is important to reflect that each economy is unique in its blend of sectoral strengths and weaknesses and comparative advantage, therefore the national interest will be distinctively different for each potential participant. In particular, there is no set rule in which to weigh the relative merits of the arguments associated with membership of a monetary union. In terms of the eurozone the chapter critically evaluates the convergence criteria stipulated in the Treaty on European Union (TEU) and empirically reviews the compliance of EU member states. It questions whether the TEU criteria satisfactorily perform this role, such that the convergence criteria present a series of financial tests, of which some are theoretically spurious, while the remainder are inadequate to indicate the range of consequences of participation. Finally, the chapter undertakes an analysis of the macroeconomic performance of Greece. Specifically, it focuses on the main features, economic events and key economic indicators (GDP per capita, inflation, unemployment, twin deficit of current account and net lending/borrowing, output gap and gross debt) during the crucial 2000-09 period, between eurozone membership and the crisis.
  • Ownership types, corporate governance and corporate social responsibility disclosures: Empirical evidence from a developing country

    Alshbili, I.; Elamer, Ahmed A.; Beddewela, E. (2018)
    This study aims to examine the extent to which corporate governance structures and ownership types are associated with the level of Corporate Social Responsibility Disclosures (CSRD) in a developing country. Design/methodology/approach: Multiple regression techniques are used to estimate the effect of corporate governance structures and ownership types on CSRD using a sample of Libyan oil and gas companies between 2009 and 2013. Findings: First, our results suggest that although the level of CSRD in Libya is low in comparison to its western counterparts, ownership factors have a significant positive influence on CSRD. Second, we find board meetings to have a positive impact on CSRD. However, we fail to find any significant effect of board size and presence of CSR committees on CSRD. Overall, our results support prior theoretical evidence that pressures exerted by the government and external stakeholders have a considerable influence in promoting firm-level CSRD activities, specifically as a legitimising mechanism in fragile states. Research limitations/implications: First, our research is based on the annual reports and it did not examine any other reports or other mass communication mechanism that companies’ management may use to disclose CSR information. Future studies might consider disclosures in other channels, if any, such as the internet, CSR reports etc. Additionally, this research adopts the neo-institutional theory perspective. Future studies might integrate multi-theoretical lense to offer a richer basis for understanding and explaining CSRD determinants. Originality/value: Our research contributes to the literature by first providing additional evidence for existing studies, which suggest that on average better-governed companies are more liable to follow a more socially responsible agenda than poorly governed companies as a legitimising mechanism in fragile states. Also, our study overcomes a major weakness in existing Libyan studies, which have mainly used descriptive data.
  • Cloud computing utilization and mitigation of informational and marketing barriers of the SMEs from the emerging markets: Evidence from Iran and Turkey

    Hosseini, S.; Fallon, G.; Weerakkody, Vishanth J.P.; Sivarajah, Uthayasankar (2019-06)
    This study seeks to investigate the effectiveness of Cloud Computing Utilization (CCU) in the mitigation of informational and marketing barriers for SMEs from the Emerging Market-Countries (EM-SMEs). A quantitative-research methodology was applied to collect data by using self-administered questionnaires from top managers of 227 SMEs based in Iran and Turkey. The study contributes theoretically to both small business and international business literature by developing a new classification of the internationalization barriers that EM-SMEs face, and proposing a series of cloud computing (CC) solutions for mitigating these barriers, resulting in the creation and testing of a new model. The empirical findings confirm that CCU can help EM-SMEs to mitigate a series of informational and marketing barriers. The key practical contributions of the study offer insights to both EM-SMEs and Cloud-Service-Providers (CSPs) on the extent to which CCU is effective in mitigating the internationalization barriers faced by EM-SMEs.
  • The impact of MENA conflicts (the Arab Spring) on global financial markets

    Mousavi, Mohammad M.; Quenniche, J. (2014)
    It is believed that financial markets are integrated and sensitive to news – including political conflicts in some regions of the world. Furthermore, financial markets seem to react differently to information flows from one region to another. The purpose of this research is to discern the effects of the recent Middle East and North Africa (MENA) conflicts – commonly referred to as the Arab Spring – on the volatility of risks and returns of global and regional stock markets as well as Gold and Oil markets. To be more specific, we consider the main uprisings in Tunisia, Egypt, Libya and Yemen and their impact on financial markets – as measured by the volatility of their risks and returns. In sum, we cluster 53 stock markets into 6 regions; namely, developed, developing, MENA, Asia, Europe, and Latin America countries, and use T-GARCH to assess the reaction of these regions to each uprising event independently. In addition, we use GARCH-M to assess the reaction of these regions stock markets as well as Gold and Oil markets to the uprisings of MENA as a whole. Our empirical findings suggest that the uprising events of MENA have more impact on the volatility of risks and returns of developed, developing, and Europe regions than MENA itself. In addition, although the results show that the volatility of both risks and returns of both developed and MENA regions are significantly affected by general conflicts in MENA, the volatility of MENA is affected during all intervals and with higher significance level. Furthermore, while MENA uprisings as a whole impact on the volatility of risk of oil (after 5 days) and gold (immediately after entering news) significantly, the returns of these markets are not affected by conflicts.
  • A comparative analysis of two-stage distress prediction models

    Mousavi, Mohammad M.; Quenniche, J.; Tone, K. (2019-04-01)
    On feature selection, as one of the critical steps to develop a distress prediction model (DPM), a variety of expert systems and machine learning approaches have analytically supported developers. Data envel- opment analysis (DEA) has provided this support by estimating the novel feature of managerial efficiency, which has frequently been used in recent two-stage DPMs. As key contributions, this study extends the application of expert system in credit scoring and distress prediction through applying diverse DEA mod- els to compute corporate market efficiency in addition to the prevailing managerial efficiency, and to estimate the decomposed measure of mix efficiency and investigate its contribution compared to Pure Technical Efficiency and Scale Efficiency in the performance of DPMs. Further, this paper provides a com- prehensive comparison between two-stage DPMs through estimating a variety of DEA efficiency measures in the first stage and employing static and dynamic classifiers in the second stage. Based on experimen- tal results, guidelines are provided to help practitioners develop two-stage DPMs; to be more specific, guidelines are provided to assist with the choice of the proper DEA models to use in the first stage, and the choice of the best corporate efficiency measures and classifiers to use in the second stage.
  • Multi-criteria ranking of corporate distress prediction models: empirical evaluation and methodological contributions

    Mousavi, Mohammad M.; Quenniche, J. (2018-12)
    Although many modelling and prediction frameworks for corporate bankruptcy and distress have been proposed, the relative performance evaluation of prediction models is criticised due to the assessment exercise using a single measure of one criterion at a time, which leads to reporting conflicting results. Mousavi et al. (Int Rev Financ Anal 42:64–75, 2015) proposed an orientation-free super-efficiency DEA-based framework to overcome this methodological issue. However, within a super-efficiency DEA framework, the reference benchmark changes from one prediction model evaluation to another, which in some contexts might be viewed as “unfair” benchmarking. In this paper, we overcome this issue by proposing a slacks-based context-dependent DEA (SBM-CDEA) framework to evaluate competing distress prediction models. In addition, we propose a hybrid crossbenchmarking- cross-efficiency framework as an alternative methodology for ranking DMUs that are heterogeneous. Furthermore, using data on UK firms listed on London Stock Exchange, we perform a comprehensive comparative analysis of the most popular corporate distress prediction models; namely, statistical models, under both mono criterion and multiple criteria frameworks considering several performance measures. Also, we propose new statistical models using macroeconomic indicators as drivers of distress.
  • Performance evaluation of bankruptcy prediction models: An orientation-free super-efficiency DEA-based framework

    Mousavi, Mohammad M.; Quenniche, J.; Xu, B. (2015-12)
    Prediction of corporate failure is one of the major activities in auditing firms risks and uncertainties. The design of reliable models to predict bankruptcy is crucial for many decision making processes. Although a large number of models have been designed to predict bankruptcy, the relative performance evaluation of competing prediction models remains an exercise that is unidimensional in nature, which often leads to reporting conflicting results. In this research, we overcome this methodological issue by proposing an orientation-free super-efficiency data envelopment analysis model as a multi-criteria assessment framework. Furthermore, we perform an exhaustive comparative analysis of the most popular bankruptcy modeling frameworks for UK data including our own models. In addition, we address two important research questions; namely, do some modeling frameworks perform better than others by design? and to what extent the choice and/or the design of explanatory variables and their nature affect the performance of modeling frameworks?, and report on our findings.
  • Value co-creation: The role of actor competence

    Waseem, Donia; Biggemann, S.; Garry, T. (2018-04)
    Adopting a Service-Dominant Logic lens, recent research within industrial marketing contexts increasingly recognizes the role of operant resources in value co-creation. Incumbent within operant resources is actor competence. Despite this, an investigation into the role of actor competence in value co-creating processes is scant and the competence literature, in general, has tended to concentrate on specialized knowledge and skills based interpretations that potentially restrict our understanding of the construct. To address this gap, this research adopts a phenomenological approach to explore perceived behavioral attributes of competent actors. Findings confirm two broad behaviorally based conceptualizations of competence: 1) extra-role behavior demonstrated through organizational citizenship behavior, and 2) in-role behavior demonstrated through understanding of work, and engagement behavior. To this end, the contribution of this research is twofold. First and from a theoretical perspective, it offers empirical insights into a relational based framework of competency within industrial marketing contexts. Second, and from a pragmatic perspective, this framework may aid managers in developing a broader understanding of actor competence and how such competencies may be enhanced within the workplace to optimize value co-creation.
  • Dividend policy in the banking sector in G-7 and GCC countries: A comparative study

    Hanifa, H.; Hamdan, M.; Haffar, Mohamed (2018-11)
    Dividend policy has been a puzzling question for many years. This study attempts to identify the key factors affecting it in the financial sector that have been neglected in the literature. Using panel data on 621 Group of Seven (G-7) banks and 68 Gulf Cooperation Council (GCC) banks, five main factors namely, banks’ size, profitability, growth, leverage, and last year’s dividend were empirically tested regarding their impact on dividend payout ratios. In addition to comparing the two economies descriptively, the researchers employed panel data analysis using multiple regression with random effects. The findings revealed that the dividend payout ratio for the GCC countries is higher than G-7 countries in every year of the examined period (2010-2015). Furthermore, for both G-7 and GCC banks, profitability and last year dividend had a significant positive influence while banks’ leverage had a significant negative influence on the dividend payout. It was found also that banks’ size is an important dividend determinant in the G-7 countries only.
  • 'Work an honest day and get the usual raw deal': accessing 'hard to reach groups' and emotions in the research process

    Smith, Andrew J.; McBride, J. (2019)
    This chapter is based on detailed qualitative research into the working lives of low-paid workers in multiple employment. We discuss the research design and practicalities of researching a ‘hard to reach group’ of workers. The emotive and sensitive issues that emerged for both the researchers and participants are also assessed.
  • Technology as a disruptive agent: Intergenerational perspectives

    Mahroof, Kamran; Weerakkody, Vishanth J.P.; Onkal, Dilek; Hussain, Zahid I. (2018)
    This study explores how British South Asian parents perceive their children’s technology consumption through their collectivist lenses and interdependent values. The findings for this qualitative study indicate that second and third generation South Asian parents acknowledge the benefits of children’s technology use; but largely perceive technology as a disruptive agent, whereby children are becoming isolated and increasingly independent within the household. The analysis aims to understand how parents view their children’s relationship with others as a result of technology consumption. Accordingly, this paper proposes an extension of the Construal of self conceptualisation and contributes a Techno-construal matrix that establishes a dyadic connection between technology consumption and cultural values. Overall, the study reveals that children display less inter-reliance and conformance typically associated with collectivist cultures, resulting from their technology use. Consequently, parents interpret their children’s shift from interdependence to more independence as a disruptive and unsettling phenomenon within the household.
  • The role of a digital engineering platform in appropriating the creation of new work-related mind-set and organisational discourse in a large multi-national company

    Hussain, Zahid I.; Sivarajah, Uthayasankar; Hussain, N. (2018)
    This paper reports on a case study involving a strategic and innovative approach to creation of an in-house multifaceted digital engineering platform (the DEP) in overcoming a number of organisational problems at a multinational engineering company. The DEP was to be used strategically for simplifying the operational complexity and to create and appropriate new work-related mind-set and new organisational discourse to achieve homogenous working across the organisation, which is a huge challenge. The need for this system emerged from the need to resolve many organisational services related problems that carried phenomenal amount of processes, health and safety risks and to regulate, and, control the running of engineering project. Research data were collected using a longitudinal case study approach over a period of six months. In order to make sense of how the DEP helped the organisation, the study used certain elements of Extended Structuration Theory as a lens to assess the case study. This research discovered that the DEP succeeded in creating and appropriating work-related mind-set and organisational discourse. It also had real influence on working processes and employees at all levels while encouraging transparency, responsiveness, agility and accountability. It continues to help the organisation to govern, manage and maintain good standard of service but many barriers still remain.

View more