Miracle-dz/UniFAR-FTUs huggingface dataset:
Financial Behavior Change and Progress Toward Self-Sufficiency: A Goal-Framing Theory Application

We applied goal-framing theory to determine whether there were discernible patterns in emerging adults’ financial behavior from college to career and whether those patterns were associated with progress toward self-sufficiency. Using longitudinal data collected over 5 years from a college cohort of emerging adults (N = 968) in the United States, we estimated latent growth curve models and identified three financial-behavior patterns suggestive of the overarching motivations in the theory: planful (gain), present focused (hedonic), and socially compliant (normative). Using multinomial logistic regression analysis, we found that higher perceived financial control, more positive financial attitudes, higher perceived parental expectations, and more exposure to financial education were predictive of a gain pattern. Analyses of variance showed that the gain financial-behavior pattern was associated with the most progress toward self-sufficiency (adult stability, career status, and well-being). We discuss the findings as they pertain to the connection between emerging adults’ financial behavior and progress toward self-sufficiency.
Does Financial Globalization Still Spur Growth In Developing Countries? Considering Exchange Rate Volatility

This paper analyses the effects of financial globalization on growth in developing countries, focusing on its interaction with exchange rate volatility. Based on dynamic panel data models and the two-step system Generalized Method of Moments (system GMM) estimator, it replicates the method of Gaies et al. (2019a; 2019b) and extends it by exploring a new spillover effect of financial globalization in terms of exchange rate volatility measured by six different indicators. The findings show the positive influence of investment-globalization on growth through the traditional channel of capital accumulation and by reducing the negative impact of exchange rate volatility. These impacts are not ensured by indebtedness-globalization, thereby shedding light on the government's decision in developing countries on foreign capital control policy. These results are robust to changes in the estimator and variables used.
How do CEOs communicate on Twitter? A comparative study between Fortune 200 companies and top startup companies

Purpose The purpose of this paper is to compare Fortune 200 and top startup chief executive officers’ (CEOs) communication strategies on Twitter and the effectiveness of these strategies in influencing public engagement. Specifically, guided by the dialogic communication theory and social presence theory, this study explored CEOs’ use of dialogic communication, social presence strategies and message tactics. Additionally, public engagement on Twitter measured by total number of likes, retweets and comments was associated with communication strategies utilized by CEOs. Design/methodology/approach This study employed the quantitative content analysis. A total sample of 720 posts from 36 CEOs were selected and analyzed. Drawing from prior studies, a coding scheme was developed and employed during the coding process. Two authors of this study served as coders and reached satisfactory inter-coder reliability. A series of χ2 tests and negative binomial regressions were conducted for data analysis. Findings Neither Fortune 200 CEOs nor top startup CEOs fully utilized dialogic principles for Twitter communication. Although Fortune CEOs seemed to be experts in strategically tailoring messages and therefore present themselves on Twitter in a friendly manner, startup CEOs demonstrated a higher level of authenticity, animation and informality. Findings are mixed regarding the direction of associations between dialogic principles and public engagement. Originality/value This study expands the application of dialogic principles in examining online executive communication and its influence in public engagement on Twitter. This study was among the first that examined executive leadership communication in the context of social media setting. In this sense, the study shifted the internal focus of leadership research to investigating leaders’ interaction with a variety of online publics.
Time-varying herding behavior within the Eurozone stock markets during crisis periods

Purpose Motivated by the ongoing debate on the existence and magnitude of herding in financial markets, the purpose of this paper is to examine Eurozone stock markets for herding behavior. In the context of the present study, the authors seek for herding behavior of stock markets as a whole as opposed to previous studies that examine herding on stock level. Design/methodology/approach To this end, the authors employ data on benchmark stock market indices for a long sample starting from 2000 through 2016. The testing procedure entails the standard Capital Asset Pricing Model-based procedure along with an advanced econometric method allowing the coefficients of the model to vary over time. Findings Results provide evidence in favor of negative herding behavior (anti-herding) for the Eurozone as a whole with noteworthy transitions. Further analysis reveals that stock markets of the periphery exhibit scarce evidence of herding, whereas continental countries are mainly characterized by negative herding behavior. Originality/value The present study’s main contribution is twofold. First, herding is examined not in sector or stock level as previous studies but at market level. Second, the testing methodology entails a pure time-varying regression model with stochastic volatility proposed by Nakajima (2011) that has not been previously employed in stock market herding. The results entail significant implications for investors seeking for diversification across Eurozone stock markets.
Political Risk and the Issue Costs of Foreign IPOs

I compare the issue costs of 463 foreign and 4129 domestic US companies that raise capital in the US between 1990 and 2018. I find evidence that foreign companies bear a greater home country political risk that generates information asymmetries and increases the first-day initial returns. Political risk correlates positively with underpricing, and the result is significant at the 10% level. However, foreign IPOs possess certain characteristics that make raising capital eventually cheaper for them compared to the domestic IPOs: Foreign companies have more assets in place, list more often in NYSE and are already familiar to US investors at the time of listing. In addition to that, foreign companies list after relatively strong US and home market equity performance, and under stable currency conditions. My results support the Selective entry –hypothesis.
Insider Horizon and Disclosure Policies

We investigate the relation between investor horizon and disclosure policy. We develop and analyze a rational expectations model where the original investors commit to a disclosure policy. Counter to casual intuition, short-horizon investors prefer more disclosure and are willing to bear costs of disclosure to reduce information asymmetries among capital market participants. We empirically test our predictions in the setting of newly public firms and find that firms with short-horizon controlling investors disclose more than other firms and experience lower information asymmetry. Our study contributes to the understanding of firms' disclosure choices by suggesting that the horizon of controlling investors shapes a firm's disclosure policy.
How Can Leaders Make Their Followers to Commit to the Organization? The Importance of Influence Tactics

Abstract Transformational leaders have the potential to influence their followers to work beyond their normal capacities at the workplace and show resolute loyalty towards the organizational objectives. Although numerous studies have explored the relationship between transformational leadership and employee’s affective organizational commitment, what causes or mediates this relationship is yet to be explored. Therefore, the present study intends to explore the mediating role of influence tactics in explaining the relationship between transformational leadership and the follower’s organizational commitment. This study was conducted using reliable and validated instruments for data collection on a sample of 352 professionals working in various iron and steel firms across Chhattisgarh in India. The collected data were analyzed using SPSS 18. The analysis reveals transformational leadership having a significant positive relationship with follower’s affective organizational commitment. The findings of this study also reported that the two influence tactics (rationality and inspirational appeal) partially mediates the relationship between transformational leadership and affective organizational commitment.
Análise dos determinantes da utilização de assistência técnica por agricultores familiares do Brasil em 2014

Resumo No presente trabalho são analisados os determinantes da utilização de assistência técnica pelos agricultores familiares brasileiros em 2014. Utilizando dados da Pesquisa Nacional por Amostras Domiciliares (PNAD) de 2014, foi estimado um modelo de regressão qualitativa probit, permitindo a identificação da magnitude e significância do efeito de cada variável explicativa sobre a probabilidade de utilização de assistência técnica no último trabalho agrícola desenvolvido no empreendimento. Os resultados evidenciam que o perfil socioeconômico, as características produtivas e a localização do agricultor familiar afetam significativamente a probabilidade de utilização da assistência técnica. Observou-se que o fato de um indivíduo possuir pele não branca, ter como principal canal de comercialização a venda direta ao consumidor, ser cessionário ou apresentar condição não especificada em relação à terra, possuir idade avançada ou baixa escolaridade ou renda per capita apresentam efeito estatisticamente significativo de redução na probabilidade de utilização da assistência técnica. Por outro lado, o fato de o indivíduo ter como principal canal de comercialização a venda para empresas ou cooperativas, de possuir empregados temporários ou estar localizado na região Sul aumentam essa probabilidade. Conclui-se, por fim, que estudos aprofundados para o melhor entendimento desses efeitos podem fornecer respaldo para o aperfeiçoamento das ações de assistência técnica.
The effects of entrepreneurial orientation on job stressors and the moderating role of high-performance work systems: employee perspectives from two industries

Abstract Firm-level entrepreneurship has recently gained increasing popularity, as it often results in superior performance and creates a competitive advantage. Although the positive effects of entrepreneurial orientation (EO) on organisational outcomes have been researched extensively, few scholars have considered employees’ perception of a firm’s EO and its benefits in different organisational contexts. This study examines whether a system of human resource management practices, that is, high-performance workplace systems (HPWSs) moderates the negative relationship between employees’ perceptions of organisational EO and job stressors in different settings. In line with the job demands–resources model, the findings indicate that HPWSs are beneficial, but their effects within different contexts should be noted. In manufacturing organisations, HPWSs contribute very little to reducing job stressors when EO perceptions are high, but they mitigate job stressors when EO is low. In service settings, employees who perceive their organisation’s EO to be either low or high experience high levels of job stressors, irrespective of how they perceive the organisation’s HPWSs.
Capacity Allocation with Multiple Suppliers and Multiple Demand Classes

We consider the capacity allocation problem for a retailer with multiple suppliers and multiple demand classes. The retailer offers one seasonal product and reserves capacity from multiple suppliers. Customers in different classes are charged with different selling prices for the same product. We analyze the optimal capacity allocation policies with the following three types of customers: (i) patient customers, (ii) impatient customers, and (iii) customers with limited patience. To empower our analysis, we propose a new preservation property of decomposition under a maximization operator. Based on the preservation property, we show that the value function in each period is decomposable for each type of customers. We then characterize the optimal capacity allocation policy for each type of customers and develop an efficient algorithm to obtain the respective optimal policy by exploiting decomposition. We also numerically investigate the optimal policy and show its value against a counterpart static heuristic policy. Finally, we extend our results to systems with multiple products, new capacity additions, etc.
Local Creative Culture and Dividend Policy

This paper examines the role of local risk-taking propensity on dividend demand by using local creative culture as a measure of local risk-taking. We find that firms located in areas with a strong creative culture are less likely to pay and initiate dividends and exhibit lower levels of dividend yield. The empirical findings also remain robust after addressing endogeneity and a series of robustness checks. Furthermore, our paper highlights the local component of corporate dividend policies and offers additional evidence supporting dividend catering theory. Our results underscore the importance of cultural determinants of investors’ risk-taking for the financial industry participants.
Evaluating Bank Cost Efficiency Using Stochastic Frontier Analysis

The study seeks to assess the cost efficiency of the commercial banks in Zimbabwe using the stochastic frontier analysis. The cost efficiency of the Zimbabwean banks is estimated using the trans-log stochastic frontier approach. The Stochastic Frontier Analysis methodology is among the host of methods that has been used to measure banking sector efficiency. The analysis of cost efficiency of commercial banks has important implications for the economy since an efficient banking system has potential to reduce interest rates which can lead to increased investment and growth for the economy. The cost of doing business in Zimbabwe is perceived to be high hence improved bank efficiency has the potential to reduce the cost of doing business. The average cost efficiency scores for the Zimbabwean banks over the study period show that the banking sector in Zimbabwe experiencing 17 percent inefficiency. The efficiency levels have been declining over the years reflecting increased resource wastage in the system. The study recommends that the banking institutions should continue to innovate so as to reduce their inefficiencies.
The Euro-Area Government Spending Multiplier at the Effective Lower Bound

We build a factor-augmented interacted panel vector-autoregressive model of the Euro Area (EA) and estimate it with Bayesian methods to compute government spending multipliers. The multipliers are contingent on the overall monetary policy stance, captured by a shadow monetary policy rate. In the short run (one year), whether the fiscal shock occurs when the economy is at the effective lower bound (ELB) or in normal times does not seem to matter for the size of the multiplier. However, as the time horizon increases, multipliers diverge across the two regimes. In the medium run (three years), the average multiplier is about 1 in normal times and between 1.6 and 2.8 at the ELB, depending on the specification. The difference between the two multipliers is distributed largely away from zero. More generally, the multiplier is inversely correlated with the level of the shadow monetary policy rate. In addition, we verify that EA data lend support to the view that the multiplier is larger in periods of economic slack, and we show that the shadow rate and the state of the business cycle are autonomously correlated with its size. The econometric approach deals with several technical problems highlighted in the empirical macroeconomic literature, including the issues of fiscal foresight and limited information.
Highway to Hell? Managing expatriates in crisis

PurposeThe purpose of this paper is to develop a conceptual framework of severe expatriate crises focusing on the occurrence of “fit-dependent” crisis events, which is when the crisis is “man made” and triggered by expatriates’ maladjustment or acculturation stress in the host country. The authors focus on the causes, prevention and management of fit-dependent expatriate crises.Design/methodology/approachThe authors develop a conceptual framework of fit-dependent expatriate crises that involves different levels of analysis.FindingsThe conceptual framework shows that crises can be triggered at micro, meso and macro levels ranging from the personal and family domains (micro), to the network and organisational domains (meso) as well as the host country domain (macro). The authors conceptualise these “domains of causes” as triggering maladjustment and acculturation stress that ultimately leads to a severe crisis event with correspondingly serious and potentially life-changing consequences. Furthermore, using a process perspective, the authors outline strategies for preventing and managing crises before, during and after the crisis occurs, discussing the support roles of various internal (organisational) and external (specialist) stakeholders.Originality/valueStudying the link between expatriation and crises is a highly relevant research endeavour because severe crisis events will impact on HRM policies, processes and procedures for dealing with employees living abroad, and will create additional challenges for HRM beyond what could normally be expected. Using attribution theory to explain why organisational support and intervention to assist expatriates during a crisis is not always forthcoming, and theories of social networks to elucidate the “first responder” roles of various support actors, the authors contribute to the expatriate literature by opening up the field to a better understanding of the dark side of expatriation that includes crisis definition, prevention, management and solutions.
Everyday practices in the production of uneven water pricing regimes in Lilongwe, Malawi

Recent scholarship has called for widening investigations of cities through the analysis of everyday practices that shape urban life. Critical water studies have contributed to this emerging debate by using an everyday lens to document the diversity of practices of accessing and distributing water. Thus far, little attention has been given to the everyday practices of setting water prices and how these shape access. We contribute to this gap by investigating the practices of setting prices in two distinct service modalities within Lilongwe’s water supply network. Our study reveals the hybrid and dynamic arrangements that shape pricing regimes, formed through the formal and informal negotiations on subsidies, incentives, tariff increases and distribution of profits. In these negotiations, the decision makers opportunistically mobilise their different and at times conflicting mandates (business and social) and guiding principles (equity versus cost-recovery). We conclude that pricing regimes are the outcome of intertwined structural processes and everyday practices that exacerbate uneven water flows in the city.
Interaction between Oil Price and Investor Sentiment: Nonlinear Causality, Time- Varying Influence, and Asymmetric Effect

ABSTRACT This paper investigates the interaction between crude oil prices and individual investor sentiment with the Hiemstra and Jones (HJ) test, the Diks and Panchenko (DP) test, the time-varying parameter structural vector autoregression (TVP-SVAR) model, and the nonlinear autoregressive distributed lags (NARDL) model. Results reveal a bidirectional nonlinear Granger causality, rather than a linear Granger causality, between crude oil prices and individual investor sentiment. Meanwhile, the interactions between the two variables are time-varying, and oil prices negatively affect individual investor sentiment in general. However, the effect of individual sentiment on oil prices is more complicated. It has more significant impacts on oil prices after 2000, and shows a positive influence before the global financial crisis, a minor influence during the crisis, and even a negative influence after the crisis. In addition, the oil price has significant long-run and short-run asymmetric effects on individual investor sentiment, whereas individual investor sentiment has no asymmetric effect on oil prices.
The Impact of Age Differences and Race on the Social Security Early Retirement Decision for Married Couples: An Extension with Gender Role Reversals

The purpose of this study is to examine the impact of age differences on the social security early and delayed retirement decision for married couples. This article extends the analysis of Docking, Fortin, and Michelson’s 2015 study that assumed the working spouse (male) was older than the non-working spouse (female). In this current study we reverse the spouse and spouse employment role and ages. We now assume a working spouse (female) who is older than her non-working spouse (male). We analyze the nine married couple combinations for the following races: Whites (W), Hispanics (H), and Blacks (B). We develop an Excel model to compute the breakeven internal rate of return (BE IRR) for each of nine race combinations. Three claiming scenarios are considered: receiving beneﬁts early (e.g., at age 62 vs. 66), the maximum realistic delay period (e.g., at age 62 vs. 70), and delaying beneﬁts past full retirement age (e.g., age 66 vs. 70). Within these three claiming scenarios we examine couples by race combination who retire at the same age and at different ages, and with age differences of 0, 4, 7, and 10 years. We compare the results of the two studies. The primary substantive conclusions from this study depends on the age comparisons that are being made. For couples who retire at the same age or at different ages, the greater the age difference the greater the incentive to retire early as the hurdle rate is lower to overcome. This is true irrespective who is older and the breadwinner (earning spouse). Women almost always have higher BE IRRs than men. The implication is that in marriages where the spouse is the breadwinner and the older partner,
PENGARUH PERSEPSI KEYAKINAN DAN BAGI HASIL TERHADAP MINAT MENABUNG DI BANK SYARIAH

Islamic Banking is a banking institution that runs with the principles of sharia. In every business activity, Islamic banks always use the laws of Islam listed in the Qur’an and Hadith. This study aims to determine the influence of perceptions of beliefs, and profit sharing perceptions of interest in saving. This research is a quantitative descriptive research with survey method. The population in this study are Surabaya students who are saving in Bank Sharia. Instrument test, classical assumption test, and data analysis test in this study using SPSS. From the results of the study, it is known that the perception of belief has a positive and significant effect to the interest of saving, and the perception of the results have a positive and significant impact on interest in saving.