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In a world of Open Finance, are customers willing to share data? An analysis of the data-driven insurance business Eurasian Bus. Rev. (IF 3.574) Pub Date : 2024-03-18 Laura Grassi
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Why is economics the only discipline with so many curves going up and down? There is an alternative Eurasian Bus. Rev. (IF 3.574) Pub Date : 2024-02-29 Giovanni Dosi
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Time varying effects in survival analysis: a novel data-driven method for drift identification and variable selection Eurasian Bus. Rev. (IF 3.574) Pub Date : 2024-02-26
Abstract In this paper we address the problem of survival models when high-dimensional panel data are available. We discuss two related issues: The first one concerns the issue of variable selection and the second one deals with the stability over time of such a selection, since presence of time dimension in survival data requires explicit treatment of evolving socio-economic context. We show how graphical
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The power of social media: effects of CEO tweets on stock performance Eurasian Bus. Rev. (IF 3.574) Pub Date : 2024-02-23 Adeel Ali Qureshi
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Diversification and size in venture capital investing Eurasian Bus. Rev. (IF 3.574) Pub Date : 2024-02-21 Emanuele Teti, Alberto Dell’Acqua, Ada Bovsunovsky
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ESG-driven innovation strategy and firm performance Eurasian Bus. Rev. (IF 3.574) Pub Date : 2024-02-12 Goretti Cabaleiro-Cerviño, Pedro Mendi
This paper investigates the impact of aligning an innovation strategy with Environmental, Social, and Governance (ESG) practices on innovation and non-innovation performance variables. Drawing on principles from Stakeholder Theory and Social Network Theory of Innovation, the research hypothesizes that ESG-driven firms will outperform firms that are not ESG-driven in terms of future innovation outcomes
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Earth Observation data, innovation and economic performance: a study of the downstream sector in Italy Eurasian Bus. Rev. (IF 3.574) Pub Date : 2024-02-11 Veronica Lupi, Valentina Morretta, Lorenzo Zirulia
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Ex-ante estimating of additional remuneration for employee inventions: explanatory role of the weighted patent family size indicator Eurasian Bus. Rev. (IF 3.574) Pub Date : 2024-02-10 Pavel Svačina, Jan Zouhar
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Firm value, ownership structure, and strategic approaches to ESG activities Eurasian Bus. Rev. (IF 3.574) Pub Date : 2024-02-09 Hyun-Jung Nam, Mehmet Huseyin Bilgin, Doojin Ryu
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Acquisition activity: do firm age and family control matter? Eurasian Bus. Rev. (IF 3.574) Pub Date : 2024-02-05 Pilar López-Delgado, Julio Diéguez-Soto, María J. Martínez-Romero, Teresa Mariño-Garrido
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Do analysts predict managed or unmanaged earnings? Eurasian Bus. Rev. (IF 3.574) Pub Date : 2023-08-10 Qazi Ghulam Mustafa Qureshi, Yves Mard, Francois Aubert
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Do political connections affect the market reaction to firms’ inclusion in or exclusion from the Sharia index? Eurasian Bus. Rev. (IF 3.574) Pub Date : 2023-06-21 Budi Wahyono
Previous studies have clearly documented the shareholder advantages and disadvantages of political connections. However, evidence of the role of political connections in ethical investment is scarce. This study investigates the relationship between political connections and the reconstructions of the Sharia index in Indonesia. Using the event study methodology, I evaluate the abnormal returns surrounding
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Family firm performance in times of crisis—new evidence from Germany Eurasian Bus. Rev. (IF 3.574) Pub Date : 2023-06-21 Svenja Jarchow, Christoph Kaserer, Henry Keppler
Literature shows that founding-family control tends to positively impact firm performance and valuation. However, it is questioned whether this positive impact also persists in times of crisis or might even be reverted, as in such periods families could be focused on the survival of the firm even at the expense of long-term cash flows. By studying a large sample of listed German firms over the period
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The multifaceted nature of cooperation for innovation, ICT and innovative outcomes: evidence from UK Microdata Eurasian Bus. Rev. (IF 3.574) Pub Date : 2023-06-14 Emanuele Giovannetti, Claudio Piga
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Institutions and entrepreneurship Eurasian Bus. Rev. (IF 3.574) Pub Date : 2023-05-13 David B. Audretsch
This paper provides an analysis of how thinking about the links between institutions and entrepreneurship has evolved over time. In its incipient phase, research largely viewed entrepreneurship as being independent of institutions and shaped solely by the personality attributes and characteristics of the entrepreneur. However, a reaction to the entrepreneur in isolation views entrepreneurship as being
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Are self-sacrificing employees liked by their supervisor? Eurasian Bus. Rev. (IF 3.574) Pub Date : 2023-04-26 Belén Bande, Takuma Kimura, Pilar Fernández-Ferrín, Sandra Castro-González, Abhishek Goel
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Data-driven definitions of gazelle companies that rule out chance: application for Russia and Spain Eurasian Bus. Rev. (IF 3.574) Pub Date : 2023-04-10 Ivan Savin, Maria Novitskaya
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Human resources slack and profitability: SMEs, large firms, and the role of business group affiliation Eurasian Bus. Rev. (IF 3.574) Pub Date : 2023-02-15 Vivien Lefebvre
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Financial inclusion and business practices of microbusiness in Colombia Eurasian Bus. Rev. (IF 3.574) Pub Date : 2023-02-01 Juan Carlos Urueña-Mejía, Luis H. Gutierrez, Paul Rodríguez-Lesmes
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Risks and returns in crowdlending Eurasian Bus. Rev. (IF 3.574) Pub Date : 2023-01-30 Saman Adhami, Gianfranco Gianfrate, Sofia Johan
Crowdlending has emerged in recent years as an innovative way to fund financially-constrained new ventures and small companies. However, digitalized funding is a new technology itself and as such it is prone to mispricing and inefficiencies. We investigate whether peer-to-peer crowdlending to businesses provides investors with promised returns consistent with the level of risk borne. By studying over
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Local versus national banking development in Europe: who is the winner? Eurasian Bus. Rev. (IF 3.574) Pub Date : 2023-01-28 Francesco Fasano, Maurizio La Rocca
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Distributional effects of COVID-19 Eurasian Bus. Rev. (IF 3.574) Pub Date : 2023-01-19 Carmen Aina, Irene Brunetti, Chiara Mussida, Sergio Scicchitano
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The knowledge-intensive direction of technological change Eurasian Bus. Rev. (IF 3.574) Pub Date : 2023-01-14 Cristiano Antonelli, Gianluca Orsatti, Guido Pialli
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Export and variability in the innovative status Eurasian Bus. Rev. (IF 3.574) Pub Date : 2023-01-10 Josep Tomàs-Porres, Agustí Segarra-Blasco, Mercedes Teruel
The nature of innovation persistence is still open to debate. In this paper, we attempt to shed some light to the topic by providing a novel analysis of the impact of exporting strategies on changes in innovative status. We derive exhaustive information regarding the innovative behavior of firms using a large sample extracted from the Spanish Technological Innovation Panel. Applying both a multinomial
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Does planned innovation promote financial access? Evidence from Vietnamese SMEs Eurasian Bus. Rev. (IF 3.574) Pub Date : 2023-01-09 Thi Thu Tra Pham, Thai Vu Hong Nguyen, Son Kien Nguyen, Hieu Thi Hoang Nguyen
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Social capital and firm performance in transition economies Eurasian Bus. Rev. (IF 3.574) Pub Date : 2023-01-06 Hung Quang Doan, Francesca Masciarelli, Andrea Prencipe, Nam Hoang Vu
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Knowledge inheritance and performance of spinouts Eurasian Bus. Rev. (IF 3.574) Pub Date : 2023-01-06 Carla Costa, Rui Baptista
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How corporate social responsibility mediates the relationship between corporate reputation and enterprise risk management: evidence from Spain Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-10-08 Clara Pérez-Cornejo, Esther de Quevedo-Puente
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Do innovation and financial constraints affect the profit efficiency of European enterprises? Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-09-23 Graziella Bonanno, Annalisa Ferrando, Stefania Patrizia Sonia Rossi
This paper investigates the relationship between profit efficiency, finance and innovation. By adopting stochastic frontiers, we pioneer the use of a novel dataset merging firm level survey data with balance sheet information for a large sample of European companies. We find that firms having difficulties in access to finance as well as firms introducing product innovation display an incentive to improve
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Does the appointment of the three musketeers reduce IPO underpricing? global evidence Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-09-19 Fouad Jamaani, Manal Alidarous
This paper examines impact of hiring reputable auditors, underwriters, and lawyers, “namely, the three musketeers”, by issuing firms on the global IPO underpricing. We employ large and unique dataset of 24,312 IPOs in 22 countries between 1995 and 2019. We find that issuers benefit from hiring the three musketeers to certify issuers’ quality to reduce investors’ ex-ante uncertainty to guard their offerings
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Twitter carbon information and cost of equity: the moderating role of environmental performance Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-08-13 Mohammed S. Albarrak, Ngan Duong Cao, Aly Salama, Abdullah A. Aljughaiman
This study aims to examine the moderating role of a firm’s environmental performance, measured by its environmental strength and concern ratings, on the influences of Twitter dissemination of carbon-related information (Carbon_Tweets) on a firm’s cost of equity (COE). Our key focus is to provide an insight as to whether different levels of environmental strength and concern would influence the effect
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Investment expectations by vulnerable European firms in times of COVID Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-08-10 Alex Coad, Sofia Amaral-Garcia, Peter Bauer, Clemens Domnick, Peter Harasztosi, Rozália Pál, Mercedes Teruel
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The spirit is willing, but the institutions are weak: disclosure of corporate social responsibility and the financial sector in transition Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-08-02 Khurshid Djalilov, Christopher A. Hartwell
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Are blockchain-based digital transformation and ecosystem-based business models mutually reinforcing? The principal-agent conflict perspective Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-07-19 Ilya Ivaninskiy, Irina Ivashkovskaya
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Enlightening the influence of family TMT involvement on firm growth and degrowth rates Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-07-18 María J. Martínez-Romero, Julio Diéguez-Soto, Pieter Vandekerkhof
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Routine-biased technological change and wage inequality: do workers’ perceptions matter? Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-07-05 Silvia Vannutelli, Sergio Scicchitano, Marco Biagetti
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How careerists use LMX as a strategy to achieve power and career success? A moderated mediation model Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-06-14 Tasneem Fatima, Ifrah Jameel, Rabia Mushtaq
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Manager gender, entrepreneurial orientation and SMEs export and import propensities: evidence for Spanish businesses Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-05-03 Alfonso Expósito, Amparo Sanchis-Llopis, Juan A. Sanchis-Llopis
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Formal institutions, ICSID arbitration and firm performance: evidence from Latin America Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-04-25 Sarela Enriquez-Perales, Conrado Diego García-Gómez, José María Díez-Esteban, Edmundo R. Lizarzaburu Bolaños
This paper analyzes how a country’s formal institutional quality impacts the performance of listed companies across different Latin American countries (namely, Argentina, Brazil, Colombia, Mexico, Peru, and Chile) and industries. Latin America provides a unique setting to address this question due to the region’s high institutional instability. The sample consists of 571 large listed companies, with
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The interaction between direct and indirect network externalities in the early diffusion of mobile social networking Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-03-11 Emanuele Giovannetti, Mohsen Hamoudia
The early diffusion of mobile social networking (MSN) reflected the interplay of different factors: the affordability of better Internet connectivity and the diffusion of Smartphones suitable for Social Networking Applications. These key technology and cost drivers facilitated both the direct and indirect network externalities, which are necessary to overtake critical adoption barriers and facilitate
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Employment effects of R&D and process innovation: evidence from small and medium-sized firms in emerging markets Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-03-07 Rajeev K. Goel, Michael A. Nelson
This paper studies the impact of research and development (R&D) and innovation on employment growth, focusing on small and medium-sized firms. Employment effects of R&D and process innovation are unclear a priori as process innovation may be labor-saving or labor might have complementarities with other inputs. Employing firm-level data from 125 nations, results show that both R&D and innovation increased
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University spillovers, absorptive capacities, and firm performance Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-03-03 Erik E. Lehmann, Matthias Menter, Katharine Wirsching
This study investigates the impact of both university spillovers and firms’ absorptive capacities on firms’ financial performance, using a multilevel approach. Considering internal firm characteristics as well as external regional characteristics, our results clearly show that university spillovers do not have a per se stimulating effect. It is the interaction between firms’ absorptive capacities and
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Top R&D investors, structural change and the R&D growth performance of young and old firms Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-03-02 Pietro Moncada-Paternò-Castello
This paper investigates the structural change of the major economies through the lens of the leading global corporate R&D investors. Moreover, we explore the relationship between R&D intensity, capital intensity and profitability and R&D investment growth for young and old firms. Contrary to common understanding, our results show that in the EU the R&D distribution between sectors has changed – similar
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Measuring the efficiency of an entrepreneurial ecosystem at municipality level: does institutional transparency play a moderating role? Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-03-01 Muhammad Faraz Riaz, João Leitão, Uwe Cantner
This study measures the output (start-ups) of an entrepreneurial ecosystem and estimates the moderating effect of institutional transparency on the relationship between entrepreneurial ecosystem and start-ups, applied to the context of Portuguese municipalities. Using factor analysis, a composite index of entrepreneurial ecosystem is constructed. The empirical results reveal that institutional transparency
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Digitalization trends and organizational structure: bureaucracy, ambidexterity or post-bureaucracy? Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-02-25 Ghulam Mustafa, Hans Solli-Sæther, Virginia Bodolica, Jon Ivar Håvold, Anam Ilyas
Nowadays, the vast majority of forward-looking organizations is activating under the imperative of embracing digital transformation. This study aims to contribute to a more fine-grained understanding of the relationship between digitalization and organizing processes, with a particular emphasis on organizational structure. Espousing the bureaucratic, ambidextrous, and post-bureaucratic views of structure
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Is paying bribes worthwhile? Corruption and innovation in middle-income countries Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-02-23 Roberto Iorio, Maria Luigia Segnana
Corruption research in economics has a long history. Seminal early articles, and older findings contrast with newer developments which have as yet not been measured empirically; in particular the link between corruption and innovating activities suffers from multiple results, on both a national country and company or firm level. This paper examines the corruption-innovation link in transition and emerging
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Is COVID-19 anticipating the future? Evidence from investors’ sustainable orientation Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-02-22 Rocco Caferra, Pasquale Marcello Falcone, Andrea Morone, Piergiuseppe Morone
In this paper, we discuss the attractiveness of green and sustainable assets, from an investor perspective. Inspired by the current state of the art, with researchers positively (re)considering the added value of stocks associated with the fulfilment of sustainable development goals, we analyze whether such stocks demonstrated: (1) a different and (2) an outperforming dynamic during various stages
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Firms’ distance to the European productivity frontier Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-02-18 Dolores Añón Higón, Juan A. Máñez, María E. Rochina-Barrachina, Amparo Sanchis, Juan A. Sanchis
In this article we explore the factors contributing to reduce the distance of laggard firms to the European frontier, focusing on institutional factors. To characterize Total Factor Productivity frontier firms within industries for the European Union we use firm level data from AMADEUS for the period 2003–2014. Our findings provide evidence on the importance of governance quality and easiness in getting
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Knowledge resources and the acquisition of spinouts Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-02-21 Pamela Adams, Roberto Fontana, Franco Malerba
In high-technology industries, employee spinouts have increasingly been identified as attractive targets for acquisitions. Yet employee spinouts may originate from different knowledge contexts. This study adopts a resource base perspective to examine the impact of both the knowledge heritage and the product strategy of spinouts originating from different contexts (i.e. from the same industry or from
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Non-linearity between family control and firm financial sustainability: moderating effects of CEO tenure and education Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-02-09 Norazlin Ahmad, Irene Wei Kiong Ting, Imen Tebourbi, Qian Long Kweh
We investigate the non-linearity between family control and firm financial sustainability and the manner in which CEO tenure and education moderate the non-linear relationship. We apply fixed-effects panel regression and several alternative tests, including two-stage least squares, in studying 2844 firm-year observations of Malaysian publicly listed firms during the period 2009–2019. We find a non-linear
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Quality of pro-market national institutions and firms’ decision to invest in R&D: evidence from developing and transition economies Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-01-29 Fulvio Castellacci, Prince C. Oguguo, Isabel Maria Bodas Freitas
Does institutional quality affect firms’ decision to invest in R&D? This paper investigates the idea that well-functioning pro-market institutions spur firms’ R&D propensity by reducing transaction costs and uncertainties related to research and innovation activities. Evidence from the World Bank Enterprise Surveys on a large sample of firms in 57 developing and transition economies between 2002 and
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Do environmental and emission disclosure affect firms’ performance? Eurasian Bus. Rev. (IF 3.574) Pub Date : 2022-01-20 Guastella, Gianni, Mazzarano, Matteo, Pareglio, Stefano, Spani, Riccardo Christopher
This study analyzes the relationship between firms’ financial performance and their environmental performance, with a particular focus on greenhouse gas-intensive industries. Using financial and environmental data of international listed companies from 2011 to 2017, the financial impact of environmental performances was estimated, measured with multiple indicators that take into account disclosure
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Innovation and economic crisis in transition economies Eurasian Bus. Rev. (IF 3.574) Pub Date : 2021-11-10 Friz, Katharina, Günther, Jutta
Based on Schumpeterian theoretical considerations, this paper investigates the innovation behavior of firms during the severe economic crisis of the year 2008/2009. It focuses on transition countries of Central and Eastern Europe and Central Asia, which have completely restructured their innovation systems through the course of transition from planned to market economies a relatively short time ago
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Translating technological innovation into efficiency: the case of US public P&C insurance companies Eurasian Bus. Rev. (IF 3.574) Pub Date : 2021-09-13 Lanfranchi, Davide, Grassi, Laura
In recent years, Insurtech innovations, driven by technologies such as artificial intelligence and blockchain, emerged in the insurance industry, with the promise of improving efficiency. However, while the positive impact of technology on insurance companies’ efficiency is expected, literature assessing it empirically is scarce, when it comes to recent technological change. Focusing on the US public
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Carbon disclosure and firm risk: evidence from the UK corporate responses to climate change Eurasian Bus. Rev. (IF 3.574) Pub Date : 2021-08-31 Alsaifi, Khaled, Elnahass, Marwa, Al-Awadhi, Abdullah M., Salama, Aly
By considering the theoretical association between corporate transparency, information asymmetry and firm risk, this paper investigates the relationship between corporate carbon disclosure and firm risk in the UK context. Using a sample of FTSE350 firms with Carbon Disclosure Project based year-observations from 2007 to 2015, we find that enhanced voluntary carbon disclosure reduces a firm’s total
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Innovation intensity and skills in firms across five European countries Eurasian Bus. Rev. (IF 3.574) Pub Date : 2021-07-16 Martin Falk, Eva Hagsten
This study attempts to establish the importance of specific formally achieved higher skills for the innovation intensity in firms across a group of European countries. Innovation expenditures are calculated as the ratio to turnover and the main explanatory variable is the proportion of highly skilled employees (tertiary education in ICT-oriented or other fields). The analysis employs official data
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The link between exchange rate volatility and capital structure under financial liberalization: evidence from the Turkish manufacturing sector Eurasian Bus. Rev. (IF 3.574) Pub Date : 2021-07-13 Ömer Tuğsal Doruk
The main purpose of this article is to examine the effect of exchange rate volatility on the corporate capital structure for firms in the Turkish manufacturing sector during the period of 1990–2017. This period is considered the post-financial liberalization period. This article uses a novel dynamic multiplier analysis which is based on the Panel Vector Autoregressive Model which takes into account
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The role of gender and succession on the debt adjustments of family firm capital structure Eurasian Bus. Rev. (IF 3.574) Pub Date : 2021-06-07 Filipe Sardo, Elisabete S. Vieira, Zélia Serrasqueiro
This study seeks to analyze the effects of gender and succession on the financing behavior of unlisted small and medium-sized family firms (FFs). Deploying the GMM estimator system to analyze for eventual differences in firm financing behavior by gender in a panel of Portuguese FFs over a period from 2010 to 2017, the results convey how the speed of adjustment towards the target debt ratio is lower
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Who suffers and how much from corruption? Evidence from firm-level data Eurasian Bus. Rev. (IF 3.574) Pub Date : 2021-05-27 Andrzej Cieślik, Łukasz Goczek
In this article, we study firm-level determinants of corruption using a sample of 164,000 companies from 144 countries for the 2005–2020 period. We analyze two variables related to corruption: the perception of corruption as an obstacle to doing business using an ordinal logit model and actual bribe tax payments using a fractional logit model. Controlling for other factors, both sets of our empirical
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Entrepreneurial intention-action gap in family firms: bifurcation bias and the board of directors as an economizing mechanism Eurasian Bus. Rev. (IF 3.574) Pub Date : 2021-04-30 Jelle Schepers, Wim Voordeckers, Tensie Steijvers, Eddy Laveren
This study investigates under which conditions entrepreneurial intentions will transform into entrepreneurial actions in a family firm context. Although entrepreneurial intentions are often a good predictor for entrepreneurial activity, intentions will not always lead to the expected action. We aim to explain this intention-behavior gap in family firms by investigating the moderating role of bifurcation