rss_2.0Studies in Business and Economics FeedSciendo RSS Feed for Studies in Business and Economics in Business and Economics 's Cover Important is Corporate Governance Features and the Lags on Audit Reports in Firm Performance: The Case of Turkey<abstract> <title style='display:none'>Abstract</title> <p>The purpose of our article is to examine whether corporate governance dimensions and audit reporting lags affect firm performance in Turkey. In this article 30 firms operating in BIST 30 were used. Data cover the 2013-2019 periods. To analyze relationships between variables, we used the Westerlund Cointegration test and CCE Group Estimator. According to results, there is a long-term cointegrated relationship between dependent and independent variables in both models. In both models, there is significantly negative relationship between reporting lags and ROA/ROE. There is significantly positive relationship between firm performance and board independence. This study is one of the few studies measuring audit reporting lag and different corporate governance dimensions and their impact on firm financial performance in Turkey.</p> </abstract>ARTICLE2022-05-31T00:00:00.000+00:00Effects of Heterogeneous Institutional Investors on the Performance of Portuguese Banks<abstract> <title style='display:none'>Abstract</title> <p>Effective corporate governance is fundamental to the correct operation of the banking sector. This study examines corporate governance in terms of the effects of different combinations of institutional investors on the performance of Portuguese banks. Effects based on kind (e.g. type of institutional investor) and degree (e.g. institutional investor experience) are considered. The results of a crisp-set qualitative comparative analysis (csQCA) show that the simultaneous presence of banks and corporations as shareholders, and non-presence of financial companies can positively affect banks’ return on average assets (ROAA) and return on average equity (ROAE). This research provides a wider picture of possible impacts in terms of banks’ performance when there are different types of institutional owners. Lastly, the results are particularly relevant for the supervision protocols developed by the Bank of Portugal and the European Central Bank, in situations of changes of banks’ shareholders.</p> </abstract>ARTICLE2022-05-31T00:00:00.000+00:00Exploring Romania’s Digital Gap - What is Under the Water, If this is Only the Tip of the Iceberg?<abstract> <title style='display:none'>Abstract</title> <p>Fully committed to a digital future and actively engaged in the transition to a digital economy, the European Union has issued (in March 2021) “2030 Digital Compass: the European way for the Digital Decade’. While setting the EU’s digital ambitions on Skills, Business, Infrastructures, and Public services, the Digital Compass also envisions an enhanced DESI” (Digital Economy and Society Index) to become an official and concerted instrument for monitoring the EU’s progress towards the stated targets. As regards Romania’s digital transformation path (and speed), its persistent lack of DESI performance compared to the EU average raised the question of whether there is something more / deeper that needs be identified, assessed, and properly managed to make Romania fit for the digital age (in general) and to Digital Europe (in particular). Therefore, the paper aims to explore Romania’s digital gap both top-down (via DESI lenses) and bottom-up (up to the “key competences and basic skills” evaluated by PISA, the OECD’s periodic assessment on student performance) - in search of DESI’s (deeper / hidden) determinants / causes needing to be addressed - due to their capacity to impact Romania’s fit for the digital age on the long run.</p> </abstract>ARTICLE2022-05-31T00:00:00.000+00:00Corporate Governance in Romania: The Board Structure an Overview of Betplus Companies<abstract> <title style='display:none'>Abstract</title> <p>Corporate governance is a relatively new concept that emerged after the middle of the last century in response to financial scandals and bankruptcies of large companies in the 1990s and has become increasingly important, mainly in the present-day context of globalization and the growth of international competition, of the continuous changes of the market, of the economic and political environment, of the rapidity of the technological changes, which make that the maintenance of the balance and success of companies cannot be achieved without paying increasing attention to the way management and control is performed. The concept of corporate governance is based on internal and external mechanisms, designed to align the interests of all those involved in the company’s activity, so as to increase the value of the company and to achieve the highest possible performance, and to increase investors’ confidence through transparency, accountability and honesty. The Board of Directors is one of the most important corporate governance mechanisms, its main role is to elect and monitor the activity of managers, to ensure that they run the company in accordance with the interests of those who elected them (the shareholders), while pursuing the company’s strategy and objectives. This study presents an analysis of the Board of Directors of the companies that are part of BETPlus index of BSE, in terms of compliance with the provisions of Bucharest Stock Exchange Corporate Governance Code, but also a brief review of the main corporate regulations in Romania, highlighting the requirements related to the size and composition of the boards, requirements that the listed companies must comply with.</p> </abstract>ARTICLE2022-05-31T00:00:00.000+00:00The Move Towards Cashless Society: How to Improve Consumers’ Use of Bank Cards in Retail Stores?<abstract> <title style='display:none'>Abstract</title> <p>The World Health Organization says money can spread all varieties of bacteria and viruses. A measure that can be taken to help stop the spread of Covid-19 is decreasing or ideally, eliminating, the use of cash and promoting the use of contactless payments. Cash remains a frequently used retail payment method specifically for small-value purchases. The switch from cash to cards and other payment methods is one of the major trends in consumer shopping financial behavior. This research investigates explaining factors of bank cards use for payment purposes. It builds on an integration of the Technology Acceptance Model and the Theory of Planned Behavior to explain customers’ intention to use bank cards. Data was collected with a face-to-face survey in retailing context. The proposed model was tested through the PLS-SEM approach. Results show that perceived usefulness, perceived ease of use, subjective norm, perceived behavioral control, and attitude are prominent predictors of the behavioral intention to use bank cards for payment purposes in retail stores. The findings provide insights to service vendors and merchants on how to increase customers’ use of cards rather than cash.</p> </abstract>ARTICLE2022-05-31T00:00:00.000+00:00Modeling the Impacts of MSMEs’ Contributions to GDP and their Constraints on Unemployment: The Case of African’s Most Populous Country<abstract> <title style='display:none'>Abstract</title> <p>The activities of micro small and medium-sized enterprises (MSMEs) are crucial to combating the menace of unemployment towards the actualization of the Sustainable Development Goals (SDGs) in African. However, financial constraints and infrastructural deficits are conspicuous issues among the numerous challenges confronting MSMEs’ activities in many developing nations. Hence, this study explores the challenges and the impacts of MSMEs’ contributions to GDP on the unemployment level in Nigeria as Africa’s most populous country. The empirical results from the study using annual time series data (1985-2018) reveal that a rise in MSMEs’ activities vis-à-vis their contributions to GDP in 5 major economic sectors (agriculture, trade, accommodation, manufacturing, and other services) alongside the financial support given to them, have significant impacts on stemming the level of unemployment in the Nigerian economy. Contrastively, the cost of accessing credit by MSMEs significantly exasperates unemployment while the impacts of the level of infrastructural investments by the government were found to be insignificant in reducing unemployment in the country over the reviewed period. In practical terms, the findings suggest that while ensuring adequate provision of financial support to MSMEs, cogent efforts should be concurrently geared toward the implementation of sufficient budgetary allocations for investment in critical infrastructures like electricity, transport, and ICT facilities to boost MSMEs’ activities to proactively address the unemployment menace in Nigeria.</p> </abstract>ARTICLE2022-05-31T00:00:00.000+00:00Marketing and Socio-Psychological Factors Influencing Consumption Bakery Product in Thailand<abstract> <title style='display:none'>Abstract</title> <p>The aim of research was to study consumer buying behavior for bakery products in Thailand and to investigated the effect of marketing and socio-psychogical factor on the consumption bakery product in Thailand. Population of the research was the consumer who consume the barkery within 400 samples. The researchers obtained questionaire in Pathumwan District, Sathorn District, Silom District, Bang Rak District, which is an economic district and has a variety of snack shops and bakery shops. The data analyze was applied by percentage, mean, and standard deviation. To test the research hypotheses, Multiple Regression statistics was used. The results showed that marketing and socio-psychogical factor influenced consumer behaviors for bakery products in Thailand within significant at the 0.05 level.</p> </abstract>ARTICLE2022-05-31T00:00:00.000+00:00Non-Oil Sectors, Economic Diversification and Growth in Nigeria: Further Empirical Evidence<abstract> <title style='display:none'>Abstract</title> <p>The adverse consequences of over-reliance of Nigerian economy on oil has continued to heighten the call and need to diversify the productive base of the economy towards non-oil sectors. To heed the call, successive governments have implemented several economic policies at different periods. However, while the contents of these policies are plausible, the full-anticipated benefits are far from being realized. The disappointing results have been linked to two principal factors: the incoherent implementation of the policies and neglect of the country-specific circumstances. Informed by the need to take cognizance of the country’s peculiar circumstances, the question as to which priority sectors that Nigeria should target for diversification efforts has come up in literature. Empirically, in view of the country’s natural resource abundance, studies have suggested agricultural, industrial and many others non-oil sectors as plausible options for diversifying the economy. In light of this, the study examines the interactions among non-oil sectors, economic diversification and growth in a multivariate VAR model over the period 1960-2019. Empirical results reveal that while an expansion of economic activities into resource-based sectors is a necessary condition for diversification; however, it is not a sufficient condition as the dimension of the diversification matters.</p> </abstract>ARTICLE2022-05-31T00:00:00.000+00:00The Importance of Sustainability for University Competitiveness<abstract> <title style='display:none'>Abstract</title> <p>Sustainability is one of the most used words these days. Sustainable development approaches are relevant wherever the business. Because there is a bewildering array of indicators that relate to university competitiveness the article emphasizes the importance of sustainability indicators. Starting from the impact on international rankings a bibliometric analysis was built in order to extract information. An overall assessment of the subject revealed the main topics that configure the research on university sustainability. The sense of the right direction for the future, and being in touch with students’ desires to avoid waste and environmental impact, is what led many universities to explore the sustainability rankings and research on this subject.</p> </abstract>ARTICLE2022-05-31T00:00:00.000+00:00Perception of Students and Master Students from the Western Part of Romania Over the Digitalization Process in the Accounting Education<abstract> <title style='display:none'>Abstract</title> <p>This paper aims to analyze the benefit of digitalization on education in the field of accounting in the vision of students and master students from universities in the western part of Romania. It was used descriptive exploratory analysis, by applying a questionnaire, to students and master students from specialized universities in the western part of Romania to identify the need for digitalizing in accounting education, trends on implementation of innovative technologies (integrated ERP automatic controls, cloud accounting technologies), measure of benefits of digitalization of accounting education and eventually the respondents’ position towards traditional, online or hybrid teaching systems. The results obtained from the application of the questionnaire were analyzed using the Spearman correlation matrix, Pearson regression test, and ANOVA test.</p> </abstract>ARTICLE2022-05-31T00:00:00.000+00:00Foreign Ownership and Productivity of Food Industries in Indonesia<abstract> <title style='display:none'>Abstract</title> <p>The Indonesian government issued a policy that restricts foreign ownership in several industries including the food industry, with the objective of protecting the domestically owned firm. This research analyzed the productivity differences between foreign-owned and domestically owned plants in the Indonesian food industry and whether the percentage of foreign ownership is related to productivity. Micro data on the food industry were obtained from the Annual Survey of Large and Medium scale Industries (IBS) in 2015 conducted by Statistics Indonesia. The results showed that there were productivity differences between the foreign-owned and domestically owned plants. The foreign-owned plants had higher productivity than the domestic plants. The productivity of plants with minority foreign ownership (less than 50 percent) was not significantly different from that of domestically owned plants. Meanwhile, the productivity of plants with foreign ownership more than 50 percent was significantly different from that of plants with domestic ownership. Wholly foreignowned plants (100 percent) did not demonstrate the highest productivity difference. When the data were disaggregated at the sub-sector level, the results varied among industries.</p> </abstract>ARTICLE2022-05-31T00:00:00.000+00:00Tunneling Through Private Equity Placements: Evidence from Japan<abstract> <title style='display:none'>Abstract</title> <p>This paper examines the tunneling issue of controlling shareholders, and in particular, this empirical study is conducted to determine whether controlling shareholders are tunneling the wealth of companies by using private equity placements (hereafter, PEPs), which have been frequently used as a means of equity financing in the Japanese market in recent years. We find that the discount rate is higher for PEPs issued to the controlling shareholders compared with PEPs issued to others. This empirical result is robust considering several methods of calculating the discount rate of PEPs. Furthermore, we find that discounts of PEPs are more likely to take place in the ex-ante controlling shareholder case than in the ex-post controlling shareholder case. The findings of this paper mainly make three contributions. Firstly, this paper contributes to prior studies and adds to the empirical evidence on the detailed path of tunneling by controlling shareholders. Secondly, this paper contributes to prior studies related to determinants of the price discount of PEPs. Thirdly, this paper contributes to institutional design in practice.</p> </abstract>ARTICLE2022-05-31T00:00:00.000+00:00Investigation of the Role of Change in Utility Function Components and Its Effect on Smooth the Dynamic Movement Path of Model Variables<abstract> <title style='display:none'>Abstract</title> <p>This paper attempts to present a model that can investigate and compare the effect of utility change on the dominant economy by defining different utility functions for households in which they perform to smooth their consumption paths in each period by using debt. To this end, this research with a glance at the existing economic literature will present a dynamic stochastic general equilibrium model for a small open economy for two countries in which, while diversifying the variables affecting the utility function, the government pays and finances its deficit despite the debt in Budget constraint. The results of the comparison of the two models indicate that in periods of low productivity, the country’s policy is to reduce or export debt which can minimize the consumption reduction. Also, despite the international interest rate in the model the consumption and capital accumulation are reduced to keep pace with the interest rate that the intensity of which depends on the utility function. Finally, it can be said that despite the different utility function, the investor diversifies his risk or his investment portfolio to escape the investment risk.</p> </abstract>ARTICLE2022-05-31T00:00:00.000+00:00Information Accessibility and Market Responsiveness: The Mediating Relational Capability to Enhance Business Performance<abstract> <title style='display:none'>Abstract</title> <p>This paper aims at investigating empirical study of the effect of entrepreneurial orientation and identifying the effect of information accessibility and market responsiveness to business performance on SMEs. This paper tries to develop and solve the problems of research gap on entrepreneurial orientation on business performance. Data were collected from 290 batik SME respondents in Central Java Indonesia. The empirical result of this research, the role of relational capability which can build the business to have competitiveness. Information accessibility on business performance has not significant. Market responsiveness on relational capability has not significant. All hypotheses are significant except for these two relationships. This paper contributes to solve the debate between relational capabilities on business performance controversy.</p> </abstract>ARTICLE2022-05-31T00:00:00.000+00:00Considerations Upon the Effects of Covid-19 Pandemic on the Romanian Economic Environment<abstract> <title style='display:none'>Abstract</title> <p>The modern economy has faced, over time, several economic crises. They have determined changes in the behaviour of economic agents and a natural evolution towards the current entrepreneurial environment, taking into account the structural, quantitative, and qualitative dynamics of economic activity, general economic development goals, and technological progress. Starting with the first half of year 2020, most of the world was marked by a completely different situation - the health crisis generated by the SARS Cov-2 virus, with powerful and immediate negative effects at the level of both developing economies and stronger countries. The measures imposed by the Romanian government for crisis management during the state of emergency and alert generated the restriction or even suspension of the activity of diverse economic sectors. Limiting the freedom of movement of the population has led to habits change and reorientation of the consumers towards online markets. The markets had a chain reaction that generated a decrease in production capacity within the manufacturing industry, automotive industry and related, interconnected activities. The main objective of the paper is to analyse how the pandemics affected different Romanian sectors and to identify appropriate tools for market correction and orientation, based on a quantitative and qualitative analysis with the use of preliminary data available on the National Institute of Statistics and Trade Register database. The analysis reveals the pandemic’s effect on national accounts, GDP components, and the short-term impact on companies.</p> </abstract>ARTICLE2022-05-31T00:00:00.000+00:00Are The Effect of Housing Prices on Bank Performance Different Among Korean Commercial, Regional and Specialized Banks?<abstract> <title style='display:none'>Abstract</title> <p>This study analyzes the effect of housing prices on banking performance in Korea. The findings of the study reveal that the impact of housing price changes on banking performance was different in the commercial banks, regional banks and specialized banks. This seems to be due to the different characteristics of each bank. The three types of banks in Korea have different functions, and thus the impact of changes in housing prices on their respective banking performance is different. Therefore, it would be desirable for Korea’s financial regulatory authorities to draw up policies and perform its supervisory functions in consideration of these points.</p> </abstract>ARTICLE2022-05-31T00:00:00.000+00:00Determinants of Consumer Attitudes Towards Social Media Advertising: Evidence from the Turkish Airline Industry<abstract> <title style='display:none'>Abstract</title> <p>As the prevalence of social media increases, it is considered as an important promotion outlet for the airline industry. The main motivation behind this paper is to identify the determinants of attitude towards social media advertising in the context of the Turkish airline industry. The model of advertising value lies in the theoretical foundation of this paper. Employing a convenience sampling, a questionnaire was completed by 123 users of social media in Turkey. The Partial Least Squares Structural Equation modeling (PLS-SEM) approach was employed to test the hypothesized relationships. Results revealed that informativeness, entertainment, and credibility are positively associated with advertising value, thus affecting attitude towards social media advertising. On the other hand, irritation has no significant relation with advertising value.</p> </abstract>ARTICLE2022-05-31T00:00:00.000+00:00Determinants Analysis of Islamic and Conventional Banks Systemic Risk Potentiality: A Preliminary Study<abstract> <title style='display:none'>Abstract</title> <p>This study aims to analyze the determinants of systemic risk in Islamic and conventional banks. The population of this research is Islamic and conventional banks, which are listed on the Indonesia Stock Exchange. Researchers used purposive sampling to ensure the suitability of the sample with the research objectives. Furthermore, we use secondary data obtained from financial databases such as Yahoo Finance and the Indonesia Stock Exchange. This study adopts the systemic risk measurement offered by Fiordelisi and Marquez-Ibanez (2013). The determinants of systemic risk were explored from the six independent variables, namely the bank efficiency, business model, size, interest rate, GDP, and bank categories (Islamic or conventional). Data analysis was performed with panel data regression. The results indicate that size is the critical factor in determining potential systemic risk for banks, both Islamic and conventional banks. This study contributes theoretically in constructing theoretical frameworks related to the stability and resilience of Islamic banks in comparison with conventional banks. Practically this study seeks to produce recommendations for improvement of Islamic banking financial governance as an alternative to conventional banking.</p> </abstract>ARTICLE2022-05-31T00:00:00.000+00:00Access of Technology as a Mediator on Access to Finance to Drive Business Innovation in Small to Medium-Sized Enterprises<abstract> <title style='display:none'>Abstract</title> <p>This study assesses the role played by access to finance as an indirect stimulant of business development and economic growth. The ‘access to technology is considered as a mediator in analyzing growth. A dataset that spans five years was gathered from small to medium-sized enterprises (SMEs) in different sectors, was analyzed as panel data through fixed and random effect regression estimation models. The results showed that access to technology playing marked role in mediating the relationship between access to finance and the adopted process sophistication. The results further showed that while access to finance is crucial driver for development in emerging economies, the access to technology seem to play more active role through stimulated growth owing to incremental improvements in business process sophistication. This study finds that multiple factors stemming from a firm’s access and use of newer forms of technology can play an essential role in generating these results, in particular the more straightforward access to finance. These findings were analyzed and interpreted under conditions that control for standard macroeconomic economic growth factors. The conclusions support policy decisions of governmental agencies that aim to improve financial support services and facilitate ease of access to cutting edge technologies.</p> </abstract>ARTICLE2022-05-31T00:00:00.000+00:00Role of Economic Factors in Property Liability Insurance Consumption: Empirically Examining the Indian Market<abstract> <title style='display:none'>Abstract</title> <p>The association of property liability insurance (PLI) consumption with economic growth in the post liberalized era has already been established justifying the need to analyze the economic factors which lead to PLI development. The empirical examination reveals that income and trade development have a positive relation with PLI consumption whereas negative relationship is obtained for interest rate movement and financial development. However, inconclusive relation is derived for infrastructure development and price of insurance. The findings will assist the policymakers, insurance regulator and insurance statutory body in stimulating PLI consumption by focusing on the identified economic factors and devise policies to support the growth in PLI sector.</p> </abstract>ARTICLE2022-05-31T00:00:00.000+00:00en-us-1