bluuebunny/crossref_metadata_2025_split huggingface dataset:
Board diversity and investment efficiency: evidence from China
Authors: Ullah Irfan , Zeb Aurang , Khan Muhammad Arif , Xiao Wu 
Published: July 2020

PurposeThe purpose of this study is to investigate the relationship between board diversity measured as relation-oriented, task-oriented and board overall diversity and firm’s investment efficiency.Design/methodology/approachThis study estimates four dimensions of board diversity, including age, gender, tenure and education. The four dimensions are further categorized in relation-oriented diversity (i.e. age and gender), task-oriented diversity (i.e. tenure and education) and overall board diversity (relation and task oriented). Panel data analysis is used to examine the board diversity–investment efficiency relationship in Chinese listed firms during the years 2003–2018. The findings of the study are robust to a battery of econometric techniques.FindingsThis study finds relation-oriented, task-oriented and overall diversity of a board curb investment inefficiency by discouraging sub-optimal investment (over- or under-investment). In other words, board diversity improves firms’ investment efficiency.Practical implicationsThe results suggest that board diversity plays a significant role in corporate decisions. The findings illustrate that board diversity disciplines the management, reduces agency conflicts and thereby improves corporate governance, resulting in higher investment efficiency.Originality/valueThis study has two important contributions. First, this study extends the prior literature of investment efficiency by considering socio-psychological dimension of the board diversity by constructing relation- and task-oriented diversity. Second, contrary to earlier studies on board diversity, this study takes four facets of board diversity, i.e. age, gender, education and tenure that improve corporate governance mechanism.
Harmony-oriented retail innovations and financial performance
Authors: Alt Mónika Anetta , Berezvai Zombor , Agárdi Irma 
Published: July 2020

PurposeRecently, a growing need for harmony has been observed worldwide. Harmony is a universal value in both Western and Asian countries. This paper aims to study how the concept of harmony is reflected in the innovation of European multinational grocery retailers and how harmony-related innovations affect the financial performance of the retailers.Design/methodology/approachThe research is based on a multisource database including innovation outcomes and financial performance indicators of 17 European multinational grocery retailers in the period of 2011–2018. In sum, 1,399 innovations were identified by content analysis. The relationship between innovation outcomes and financial performance was measured by panel regression analysis.FindingsResults indicate that retailers differ in launching harmony-oriented innovations. Moreover, 40% more innovations are related to harmony with people as those related to harmony with nature. Finally, harmony-with-people innovations have a significantly positive effect on retailers' sales growth.Practical implicationsBased on the research findings, retailers can improve their sales growth by launching innovations that focus on harmony in human relationships.Originality/valueThis paper extended the concept of harmony to the field of innovations. First, the research showed how the value of harmony appears in the innovations of multinational retailers. Second, the study differentiated between harmony-with-people and harmony-with-nature innovations. Third, the findings revealed that harmony-oriented innovations contribute to retailers' financial performance.
How does dynamic network capability operate? A moderated mediation analysis with NPD speed and firm age
Authors: Chen Yongjian (Ken) , Coviello Nicole , Ranaweera Chatura 
Published: July 2020

PurposeSystematic research examining the mechanisms that mediate the dynamic capability–performance relationship remains scarce. So too is research on the conditions under which these mechanisms might be influential. Accordingly, this study aims to build upon business network research to examine how a firm’s dynamic network capability (DNC) impacts firm performance, mediated by the speed of product reconfiguration (i.e. new product development [NPD] speed) and bounded by firm age.Design/methodology/approachThe authors conduct moderated mediation analysis on survey data from small- and medium-sized manufacturing and technology firms in the USA. This study uses an initial survey and then a follow-up survey.FindingsThe findings support the general view that DNC is instrumental to firm performance, regardless of firm age. However, DNC operates differently for younger vs older firms. That is, DNC’s impact on the performance of younger firms is enabled by speeding up NPD, while much of the performance impact for older firms appears to be through alternative resource reconfiguration route(s). This study identifies the need to include a mediating variable such as resource reconfiguration to detect how DNC impacts performance.Research limitations/implicationsThe model could include different dimensions of mediating resource reconfigurations, alternative boundary conditions and longer-term data.Practical implicationsThis study provides managers with insight on how speed of product reconfiguration (in terms of NPD) operates in the DNC–performance relationship. It also helps them understand how this relationship changes in younger vs older firms.Originality/valueTo the best of the authors’ knowledge, this study is the first to provide empirical evidence on how DNC operates to influence performance in firms that are younger vs older.
The internal control manager and operational efficiency: evidence from Korea
Authors: Shin Hyejeong , Park Sorah 
Published: July 2020

PurposeThis study aims to examine the relationship between the internal control manager attributes and the firms’ operational efficiency. The internal control manager designs and maintains the firms’ policies and procedures to certify the effectiveness of its internal control system.Design/methodology/approachThe study is an empirical research based on a sample of public companies listed on the Korean Stock Exchange from year 2011 to 2015. The authors derive measures of operational efficiency using the data envelopment analysis tool.FindingsThis study shows that the operational efficiency increases with internal control managers’ task-related knowledge and diverse firm knowledge, consistent with human capital theory. Also, the results reveal that internal control managers, equity ownership has a curvilinear relationship with the operational efficiency, indicating that excessive managerial ownership can deteriorate the firm value.Originality/valueWhile many studies have examined the association between the internal control system and financial reporting quality, this paper is differentiated from prior studies by focussing on the internal control managers’ personal attributes. This is important, as the internal control system is essentially built by internal control managers who are in charge. This study contributes to accounting literature by shedding light on the role of internal control managers in enhancing the firms’ operational efficiency.
Investment obstacles to sustainable development and competitiveness index
Authors: Alshubiri Faris 
Published: July 2020

Purpose
This paper was aimed to develop better knowledge to show how obstacles impact Sustainable Development Goals (SDGs) in investment business on the global competitiveness index (GCI). This study was applied to six Gulf Cooperation Council (GCC) economies to analyse and classify investment obstacles in order to improve GCI and mitigate the obstacles to doing business.

Design/methodology/approach
This study used the 12 pillars of the GCI to classify six GCC countries and 15 factors of SDGs using data from 2008 to 2017. The data were collected from the International Monetary Fund and GCI reports from 2008 to 2018 on all six GCC countries: the UAE, Kuwait, Oman, Saudi Arabia, Bahrain and Qatar. The paper adopted equations to analyse the GCI, along with 15 obstacles to doing investment business. The paper used regression and correlation tests by two proxies: obstacles to SDGs as an independent variable and the GCI as a dependent variable.

Findings
The findings of this study focussed on the best classification of the GCI, which went to Qatar, whereas the lowest rank went to Oman. The major components of obstacles to doing investment business are restrictive labour regulations, access to financing and inefficient government bureaucracy factors. These obstacles stand in the way of achieving SDGs and delay the improvement of the competitive field. Hence, the results of the regression test show that there is a negative and statistically significant impact in Oman, Kuwait and the UAE between obstacles to doing business on the GCI at the significance levels of 1% and 5%. The Pearson correlation matrix is strong between obstacles to SDGs, as the same elements of the GCI also exist in these countries, at 55.2%, 75% and 55.5%, respectively.

Research limitations/implications
There are some limitations related to the study period being from 2008 to 2017. Before 2008, the GCI consisted of nine pillars rather than 12, and there were 14 problems rather than 15 related to doing investment business. Hence, this does not match with the period of this study. Furthermore, the reports after 2017 did not mention the problems of doing business, only analysing the GCI.

Practical implications
The results of the study highlight the strategic and practical aspects of GCC countries diagnosing the SDGs to know how to reduce obstacles to sustainable development, which can enhance investments by improving the GCI.

Originality/value
The current study measured and evaluated how to mitigate the obstacles to SDGs in the GCC countries. It is the first study to explain these obstacles in the GCC countries, which are characterised by their huge wealth that contributes significantly to global economic development.
An objective hermeneutic approach to qualitative validation
Authors: Borim-de-Souza Rafael , Travis Eric Ford , Munck Luciano , Galleli Bárbara 
Published: July 2020

PurposeInspired by objective hermeneutics (Oevermann, 1984, 1996, 1999; Oevermannet al., 1979; Weller, 2010; Wohrab-Sahr, 2003) and qualitative validation (Adcock and Collier, 2001; Martis, 2006; Maxwell, 1992), the authors present this essay with the aim of proposing an objective hermeneutic approach to qualitative validation.Design/methodology/approachIn order to develop this approach, the authors consider the contributions of Martis (2006) and Maxwell (1992) about theoretical–empirical validity, Adcock and Collier's propositions (2001) regarding the conceptualization and evaluation of phenomena through specific levels, tasks and stages of validation and the principles of objective hermeneutic interpretation proposed by Wohlrab-Sahr (2003).FindingsThree main contributions are considered: theoretical–empirical validity (Martis, 2006; Maxwell, 1992); levels of validation – theoretical framework, systematized concept, indicators and results (Adcock and Collier, 2001); stages of validation – content validity, convergent validity and nomological validity (Adcock and Collier, 2001); and principles of objective hermeneutic interpretation – sequential interpretation, mental–experimental explanation of possible interpretations, preservation rule, literal character of interpretation, totality, reflection about knowledge used in the analysis and group of interpreters (Wohrab-Sahr, 2003). These contributions were related to establishing a framework that illustrates the proposed objective hermeneutic approach to qualitative validation.Originality/valueThe authors intend to offer to the scope of organization studies an alternative for validation, so that the voices of the researched can be heard. Furthermore, the authors seek to guide researchers as to how to respect and protect what is heard, in order to avoid any invasion of others' discourse.
Investor attention and market correction
Authors: Chen Zhongdong 
Published: July 2020

PurposeThis study disentangles the investor-base effect and the information effect of investor attention. The former leads to a larger investor base and higher stock returns, while the latter facilitates the dissemination of information among investors and impacts informational trading.Design/methodology/approachUsing positive volume shocks as a proxy for increased investor attention, this study evaluates the impacts of the investor-base effect and the information effect of investor attention on market correction following extreme daily returns in the US stock market from 1966 to 2018.FindingsThis study finds that the investor-base effect increases subsequent returns of both daily winner and daily loser stocks. The information effect leads to economically less significant return reversals for both the daily winner and daily loser stocks. These two effects tend to have economically more significant impacts on the daily loser stocks. The economic significance of these two effects is also related to firm size and the state of the stock market.Originality/valueThis study is the first to disentangle the investor-base effect and the information effect of increased investor attention. The evidence that the information effect facilitates the dissemination of new information and impacts stock returns contributes to the strand of studies on the impact of investor attention on market efficiency. This evidence also contributes to the strand of studies analyzing the impact of informational trading on stock returns. In addition, this study provides evidence for market overreaction and the subsequent correction. The results for up and down markets contribute to the literature on the investors' trading behavior.
Ambiguity aversion and experiential learning: implications for long-term savings decisions
Authors: Foltice Bryan , Rogers Rachel 
Published: July 2020

PurposeThis paper evaluates potential methods for reducing ambiguity surrounding returns on equity to improve long-term savings decisions.Design/methodology/approachWe evaluate 221 undergraduate students in the US and first assess the degree of ambiguity aversion exhibited by individuals in the sample population as they decide between a risky (known probability) option and ambiguous (unknown probability) option pertaining to their chances of winning $0 or $1 in a hypothetical lottery. Similarly, we test whether sampling historical return data through learning modules influences long-term decision making regarding asset allocation within a retirement portfolio.FindingsAllowing participants to experience the underlying probability through sampling significantly influences behavior, as participants were more likely to select the ambiguous option after sampling. Here, we also find that participants who receive interactive learning modules – which require users to manually alter the asset allocation to produce a sample of historical return data based on the specific allocation entered in the model – increase their post-learning equity allocations by 10.1% more than individuals receiving static modules. Interestingly, we find no significant evidence of ambiguity aversion playing a role in the asset allocation decision.Originality/valueWe find that decision-making related to ambiguous and risky options can be substantially influenced by experiential learning. Our study supplements previous literature, providing a link between research on the effect of ambiguity on stock market participation and implementation of educational programs to improve the asset allocation decision for young adults.
Corporate social responsibility, innovation capability and firm performance: evidence from SME
Authors: Bahta Dawit , Yun Jiang , Islam Md Rashidul , Ashfaq Muhammad 
Published: July 2020

PurposeThe purpose of this paper is to examine corporate social responsibility (CSR) and its effect on small and medium enterprises’ (SMEs) innovation capability and financial performance from the perspective of a developing country. It also aims to explore the role of innovation capability as a mediating factor in the linkage between CSR and SMEs’ financial performance.Design/methodology/approachA questionnaire was distributed among managers/owners of the sampled companies. Using a data set of 402 Eritrean firms and partial least squares structural equation modeling, direct and mediating effects were tested.FindingsThe result reveals that CSR has a positive and significant effect on the financial performance and innovation capability of SEMs. Besides, innovation capability has a positive and significant effect on the business performance of SMEs. The result also supports a partial mediation effect of innovation capability on the association between CSR and firm performance.Practical implicationsThe findings from this research could enhance the awareness of the entrepreneurs, researchers and policymakers on CSR-SMEs’ relationship and help understand the importance of CSR as a crucial driver mechanism for companies to become more innovative and competitive.Originality/valueBy empirically examining the relationship between CSR, innovation capability and performance in SMEs, this study contributes to the ongoing scholarly discussion on the linkage between CSR and financial performance. Also, to the best of the authors’ knowledge, no other study investigated the mediating role of innovation capability on the link between CSR activities and firms’ financial performance in SMEs from a developing country perspective, making substantial contributions to research in terms of theory, practice and policy.
Placental growth factor in suspected preterm pre‐eclampsia: a review of the evidence and practicalities of implementation
Authors: Hurrell A , Beardmore‐Gray A , Duhig K , Webster L , Chappell LC , Shennan AH 
Published: July 2020

Despite extensive research, the pathophysiology and prevention of pre‐eclampsia remain elusive, diagnosis is challenging, and pre‐eclampsia remains associated with adverse maternal and perinatal outcomes. Angiogenic biomarkers, including placental growth factor (PlGF) and soluble fms‐like tyrosine kinase 1 (sFlt‐1), have been identified as valuable biomarkers for preterm pre‐eclampsia, accelerating diagnosis and reducing maternal adverse outcomes by risk stratification, with enhanced surveillance for high‐risk women. PlGF‐based testing is increasingly being implemented in clinical practice in several countries. This review provides healthcare providers with an understanding of the evidence for PlGF‐based testing and describes the practicalities and challenges to implementation.Tweetable abstractPlacental growth factor in pre‐eclampsia: evidence and implementation of testing.
Can vertically integrated health systems provide greater value: The case of hospitals under the comprehensive care for joint replacement model?
Authors: Machta Rachel M. , Reschovsky James , Jones David J. , Furukawa Michael F. , Rich Eugene C. 
Published: July 2020

AbstractObjectiveWe aim to assess whether system providers perform better than nonsystem providers under an alternative payment model that incentivizes high‐quality, cost‐efficient care. We posit that the payment environment and the incentives it provides can affect the relative performance of vertically integrated health systems. To examine this potential influence, we compare system and nonsystem hospitals participating in Medicare's Comprehensive Care for Joint Replacement (CJR) model.Data SourcesWe used hospital cost and quality data from the Centers for Medicare & Medicaid Services linked to data from the Agency for Healthcare Research and Quality's Compendium of US Health Systems and hospital characteristics from secondary sources. The data include 706 hospitals in 67 metropolitan areas.Study DesignWe estimated regressions that compared system and nonsystem hospitals' 2017 cost and quality performance providing lower joint replacements among hospitals required to participate in CJR.Principal FindingsAmong CJR hospitals, system hospitals that provided comprehensive services in their local market had 5.8 percent ($1612) lower episode costs (P = .01) than nonsystem hospitals. System hospitals that did not provide such services had 3.5 percent ($967) lower episode costs (P = .14). Quality differences between system hospitals and nonsystem hospitals were mostly small and statistically insignificant.ConclusionsWhen operating under alternative payment model incentives, vertical integration may enable hospitals to lower costs with similar quality scores.
Prediction of the development of islet autoantibodies through integration of environmental, genetic, and metabolic markers
Authors: Webb‐Robertson Bobbie‐Jo M. , Bramer Lisa M. , Stanfill Bryan A. , Reehl Sarah M. , Nakayasu Ernesto S. , Metz Thomas O. , Frohnert Brigitte I. , Norris Jill M. , Johnson Randi K. , Rich Stephen S. , Rewers Marian J. 
Published: July 2020

AbstractBackgroundThe Environmental Determinants of the Diabetes in the Young (TEDDY) study has prospectively followed, from birth, children at increased genetic risk of type 1 diabetes. TEDDY has collected heterogenous data longitudinally to gain insights into the environmental and biological mechanisms driving the progression to persistent islet autoantibodies.MethodsWe developed a machine learning model to predict imminent transition to the development of persistent islet autoantibodies based on time‐varying metabolomics data integrated with time‐invariant risk factors (eg, gestational age). The machine learning was initiated with 221 potential features (85 genetic, 5 environmental, 131 metabolomic) and an ensemble‐based feature evaluation was utilized to identify a small set of predictive features that can be interrogated to better understand the pathogenesis leading up to persistent islet autoimmunity.ResultsThe final integrative machine learning model included 42 disparate features, returning a cross‐validated receiver operating characteristic area under the curve (AUC) of 0.74 and an AUC of ~0.65 on an independent validation dataset. The model identified a principal set of 20 time‐invariant markers, including 18 genetic markers (16 single nucleotide polymorphisms [SNPs] and two HLA‐DR genotypes) and two demographic markers (gestational age and exposure to a prebiotic formula). Integration with the metabolome identified 22 supplemental metabolites and lipids, including adipic acid and ceramide d42:0, that predicted development of islet autoantibodies.ConclusionsThe majority (86%) of metabolites that predicted development of islet autoantibodies belonged to three pathways: lipid oxidation, phospholipase A2 signaling, and pentose phosphate, suggesting that these metabolic processes may play a role in triggering islet autoimmunity.