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Article
Publication date: 4 August 2020

Ali Kutan, Usama Laique, Fiza Qureshi, Ijaz Ur Rehman and Faisal Shahzad

The extant literature provides substantial evidence that various facets of national culture play a significant role in corporate financial decision making. We systematically…

Abstract

Purpose

The extant literature provides substantial evidence that various facets of national culture play a significant role in corporate financial decision making. We systematically review the role of national culture on the various thematic domains of corporate financial decision making to outline what have been studies thus far and what needs to be studied.

Design/methodology/approach

Keywords such as national culture, organizational culture, power distance, uncertainty avoidance, masculinity, risk aversion and individualism for a search in the prominent academic literature databases are used. The studies related to the corporate financial decision making that is tied with these keywords are identified and selected for the systematic review.

Findings

The review of extant literature suggests strong evidence that national culture has a significant role in influencing corporate cash holding, corporate risk-taking, individual behaviour of the financial managers and initial public offering by the corporations. The review also indicates, although extant studies have examined the role of national culture in the key corporate financial decisions, evidence on the role of national culture in the firm's investment efficiency aspects is rather scarce. Also, what explains the role of national culture in corporate financial decision making has not been empirically exploited through causal mechanisms.

Practical implications

The findings of the studies help advance our understanding of the current research status concerning the role played by the national culture in shaping corporate financial decisions and raise important future calls.

Originality/value

To best of our knowledge, no prior study has systematically reviewed the role of national culture in the thematic domains of corporate financial decision making.

Details

International Journal of Emerging Markets, vol. 16 no. 7
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 3 October 2023

Muhammad Aftab, Saman Shehzadi and Fiza Qureshi

This research intends to investigate the impact of economic policy uncertainty (EPU) on the firm's leverage and its adjustment speed.

Abstract

Purpose

This research intends to investigate the impact of economic policy uncertainty (EPU) on the firm's leverage and its adjustment speed.

Design/methodology/approach

This study applies dynamic panel data modeling by using a partial adjustment model. The study is based on secondary data of the non-financial firms that are listed on the Pakistan stock exchange. For the analysis purpose, the study applies the generalized method of moments (GMM) estimation technique and uses a newly developed text-based measure of economic policy uncertainty.

Findings

The results show the negative impact of EPU on leverage decisions but a positive impact of EPU on leverage speed of adjustment for both, short-run and long-run economic policy shocks. Additional analysis reveals that the negative influence of long-run policy shocks on leverage decisions is moderated through profitability, and the negative influence of short-run policy shocks on leverage is moderated through firm size, tangibility and available growth prospects. However, the significant positive impact of EPU on the leverage speed of adjustment in both short and long-term policy shocks indicates that the speed of adjustment for these firms is not affected by policy shocks.

Originality/value

This research contributes to the existing literature on capital structure dynamics,by investigating the impact of EPU on firm financing decisions and estimating the adjustment speed of capital structure in a developing market context. The study also extends the existing literature by applying the concept of long-run and short-run economic policy uncertainty in the capital structure dynamic framework. Additionally, the new news-based measure of EPU is used. Moreover, it also looks into the COVID-19 effect on the relationship.

Details

Asia-Pacific Journal of Business Administration, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1757-4323

Keywords

Article
Publication date: 20 March 2023

Manuel Expósito-Langa, Sofia Estelles-Miguel, Gabriela Ribes-Giner and Carlos Rueda-Armengot

The aim of this paper is to provide empirical evidence of discrepancies in certain management-related business factors in complex situations from a gender perspective.

Abstract

Purpose

The aim of this paper is to provide empirical evidence of discrepancies in certain management-related business factors in complex situations from a gender perspective.

Design/methodology/approach

The study examined whether there are any differences in the characteristics of Spanish companies run by men and women and how male and female chief executive officers (CEOs) perceive critical situations such as the COVD-19 pandemic. To answer the research questions, the survey carried out by the Ibero-American Observatory of Small and Medium-Sized Enterprises (FAEDPYME) in 2021 was used. The final sample consisted of a total of 1,532 small and medium-sized enterprises.

Findings

The main results show that female CEOs are more likely to have a university education than male CEOs, but they run smaller companies in Spain. On the other hand, they are more risk averse and evaluate the impact of complex and risky situations more negatively.

Research limitations/implications

The findings open up new research questions. This is a cross-sector study, but are there differences in behaviour between sectors? The view of the crisis is negative, but which types of companies have been strengthened?, finally, do other countries have similar results?

Originality/value

The originality and value of this document lies in the fact that it makes an interesting contribution to the open debate on the management of complex situations from a gender perspective.

Details

Journal of Organizational Change Management, vol. 36 no. 1
Type: Research Article
ISSN: 0953-4814

Keywords

Article
Publication date: 28 March 2023

Muhammad Zeshan, Shahzil Talha Khatti, Fiza Afridi and Olivier de La Villarmois

This paper aims to show the role of employees’ self-regulation in defining the effect of job demands on employees’ burnout. Moreover, the paper also highlights the importance of a…

Abstract

Purpose

This paper aims to show the role of employees’ self-regulation in defining the effect of job demands on employees’ burnout. Moreover, the paper also highlights the importance of a high-performance work system (HPWS) on the relation between job demands and employee self-regulation.

Design/methodology/approach

Data has been collected from public sector hospital nurses through a survey strategy following a time-lagged approach. This data has been analysed to validate the measure and to test the hypotheses through structural equation modelling.

Findings

Results of this study indicate that job demands affect employees’ burnout through adaptive regulation (recovery) and maladaptive regulation (self-undermining). Adaptive regulation minimizes while maladaptive regulation supports this effect. Moreover, results also highlight the role of HPWS in mitigating the negative impact of job demands on adaptive regulation.

Practical implications

This study serves as a guide for managers to minimize the burnout of their subordinates in the face of increasing job demands. This study also emphasizes the use of HPWS in organizations so that the burnout of the employees may be decreased by increasing adaptive self-regulation or recovery.

Originality/value

This study enriches the literature on the job demand resource theory by showing how employee job demands, employee self-regulation (psychological processes) and HPWS (organizational processes) collaborate to determine the extent of job burnout of employees.

Details

International Journal of Organizational Analysis, vol. 32 no. 2
Type: Research Article
ISSN: 1934-8835

Keywords

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