bluuebunny/crossref_metadata_2025_split huggingface dataset:
An analysis of stock market impact from supply chain disruptions in Japan
Authors: Liu Jiangxia , Sarkar Sourish , Kumar Sanjay , Jin Zhenhu 
Published: November 2017

PurposeThe purpose of this paper is to explore the stock market impact of supply chain disruptions for public companies in Japan. The impact in the USA and Japan are also compared.Design/methodology/approachUsing event study on a data set comprising of disruptions announced by Japanese and US companies during year 2000-2013, the authors measure the stock price reaction to supply chain disruptions.FindingsThe study finds that the Japanese companies, in an 11-day window around disruption announcement, witness an average abnormal return of −0.61 percent, which is statistically significant. In comparison to the USA, this stock decline is qualitatively smaller, yet statistically indifferent. The abnormal return is found significant in the two days before disruption announcement. However, a follow-up study with a refined data set (where the event date is the earlier of the announcement or disruption date) does not find any significant abnormal return prior to the event date. This difference from US market suggests the possibility of insider trading. Factors such as book-to-market ratio, industry type, and market capitalization did not affect the stock decline.Research limitations/implicationsThe research is limited to a data set from Japan and the USA. Further generalization of findings may need studies focused on other countries.Practical implicationsThe results are of interest for supply chain managers. The results should also help global investors in making investment decisions.Originality/valueMost supply chain disruptions management research is focused on companies in western countries. The paper is the first to test the impact of supply chain disruptions in Japan.
Combining lean tools application in kaizen: a field study on the printing industry
Authors: Chan Chi On , Tay Huay Ling 
Published: November 2017

Purpose
The purpose of this paper is to highlight the lessons learned from two kaizen events for productivity improvement in a printing company. The paper suggests how to organize lean tools to improve productivity through the use of organized kaizen events in the printing industry to meet defined targets.

Design/methodology/approach
This paper is based on a field study involving participant observations. The relationships among the three specific tools, line balancing, standardized work and standardized layout that are used in a kaizen event of a printing factory, are examined.

Findings
Application of a mix of lean tools resulted in significant productivity improvements of 10-30 percent in the assembly area of the printing company. Based on the outcomes of the lean tools that are applied in various work areas, the best combinations of lean tools are identified and several key considerations are discussed.

Practical implications
This paper shows that a combined set of lean tools such as line balancing, standardized work and standardized layout can be applied to improve productivity in the printing operations, which is identifiable with a mix of processes that are both labor intensive and equipment flexible.

Originality/value
The paper fills the literature gap on the use of specific lean tools: line balancing, standardized work and standardized layout in the printing industry. The findings from this research can be applied to other assembly systems that are similar to the printing industry.
Income inequality and shadow economy: a nonparametric and semiparametric analysis
Authors: Yap Wai Weng , Sarmidi Tamat , Shaari Abu Hassan , Said Fathin Faizah 
Published: November 2017

PurposeThe purpose of this paper is to investigate the nonlinear relationship between shadow economy and income inequality and determine whether the size of shadow economy can influence the level of income inequality.Design/methodology/approachBoth parametric (panel OLS) and nonparametric/semiparametric regression suggested by Robinson (1988) will be used to capture the dynamic nonlinear relationship between these variables using unbalanced panel data of 154 countries from 2000 to 2007. Additionally, the relationship between income inequality and shadow economy on both developed and developing countries will be analyzed and compared.FindingsFirst, semiparametric analysis and nonparametric analysis are significantly different than parametric analysis and better in nonlinear analysis between income inequality and shadow economy. Second, income inequality and shadow economy resemble an inverted-N relationship. Third, the relationship between income inequality and shadow economy is different in developed countries (OECD countries) and developing countries, where OECD countries have similar inverted-N relationship as before. However, for developing countries, income inequality and shadow economy show an inverted-U relationship, similar to the original Kuznets hypothesis.Practical implicationsThis study suggests that there is a possible trade-off between income inequality and shadow economy and helps policy makers in solving both problems effectively.Originality/valueDespite the growing importance of income inequality and shadow economy, literature linking the two variables is scarce. To the best of the authors’ knowledge, there is no literature that nonlinearly links these two variables. Furthermore, the dynamics of the relationship between these two variables in developed countries and developing countries will be explored as well.
Racial and low-income quotas in Brazilian universities: impact on academic performance
Authors: Vidigal Claudia Bueno Rocha 
Published: November 2017

PurposeThe purpose of this paper is to estimate the impact of racial and low-income quotas on academic performance of students from public and private universities in Brazil.Design/methodology/approachUsing propensity score matching applied to student-level data from the National Examination of Student Performance conducted in 2012; this paper identifies the impact of the quota policy on academic performance considering all Brazilian universities.FindingsThe results indicate that there is no statistically significant difference in academic performance between students admitted under the racial quota and those who had the regular admission (non-quota students). The impact is positive, however, for students from the North region of Brazil and among those with very low family income, whereas a negative impact is observed for those from the Central-West region. In regard to the low-income quota, quota students perform worse than eligible non-quota students as their scores are, on average, 14 percent lower. Similar findings are observed when different subsamples are considered.Originality/valueThis paper’s main contribution is to provide a broader and more rigorous empirical approach than that presented by the existing literature in order to evaluate the impact of quota policies on academic achievement. Moreover, this study considers all Brazilian institutions whereas previous studies are limited to only one or a few universities.
Corruption, institutions and capital flight: evidence from Sub-Saharan Africa
Authors: Osei-Assibey Eric , Domfeh Kingsley Osei , Danquah Michael 
Published: November 2017

PurposeThe purpose of this paper is to investigate the effect of corruption and institutional governance indicators on capital flight in Sub-Saharan Africa.Design/methodology/approachUsing a Portfolio Choice Framework, the study employs two different estimation techniques as Generalized Method of Moment and Fixed Effect Regression on panel data sets of 32 countries in Sub-Saharan Africa over the period 2000-2012.FindingsThe variable of interest, corruption, retains its expected positive sign and statistically significant across all the estimations. The relationship remains very strong even when other equally important institutional variables such as regime durability, rule of law and independence of the executive are taken into account. This suggests that a higher perception of corruption among public authorities as in bribery, kickbacks in public procurement, embezzlement of public funds, among others facilitates an increase in capital outflow from SSA. The findings further indicate that regime durability and rule of law are important institutional variables that also significantly influence capital flights in SSA.Practical implicationsThe findings imply that institutional reforms should be encouraged if SSA is to win the war against corruption and by extension against capital flight. There should be a creation of democratic environment and good governance practices that foster stronger governance institutions, decline in corruption and better domestic investment climate to help reverse the high spate of capital flight in the region.Originality/valueThe main value of this paper is using the portfolio choice framework to analyze the relationship between capital flight and corruption in the Sub-Saharan African context.
Estimating shadow economy in Tanzania: an analysis with the MIMIC approach
Authors: Dell’Anno Roberto , Davidescu Adriana AnaMaria , Balele Nguling’wa Philip 
Published: November 2017

Purpose
The purpose of this paper is to estimate the Tanzanian shadow economy (SE) from 2003 to 2015 and test the statistical relationships between the SE and its potential causes and indicators.

Design/methodology/approach
The econometric analysis is based on a multiple indicators multiple causes (MIMIC) model. To calibrate the SE from the estimates, the authors adopt the value of 55.4 percentage of the SE to official GDP from the literature for the base year 2005.

Findings
The SE ranges from 52 to 61 per cent of official GDP and slightly decreases from 2013 to 2015. Increase in inflation, unemployment and government spending were the main drivers of the SE dynamics.

Research limitations/implications
Given the challenges facing estimation of the SE (e.g. small sample size, exogenous estimate to calibrate the model, meaning of the latent variable), quantification of SE should be considered to be rough measures.

Practical implications
To lower the size of the SE, the government needs to keep inflation and unemployment stable over time, to reduce government spending because it creates pressure on tax collection due to the limited tax base.

Originality/value
This is the first study specifically focused on Tanzanian SE based on the MIMIC approach. Existing estimates of Tanzanian SE are calculated by monetary models or apply a common MIMIC specification to the worldwide context.
Musharakah Mutanaqisah home financing: issues in practice
Authors: Asadov Alam , Muhamad Sori Zulkarnain Bin , Mohamad Ramadilli Shamsher , Anwer Zaheer , Shamsudheen Shinaj Valangattil 
Published: November 2017

Purpose
This paper aims to examine the practical issues in the Musharakah Mutanaqisah (MM) financing and subsequently, recommends possible solutions to mitigate these issues and improve the current practice.

Design/methodology/approach
This paper analyses the theory and current practices of MM offered by Islamic banks.

Findings
It is suggested that Islamic financial institutions consider revaluation of property’s value to its fair value, especially during termination of MM contract and annual or agreed periodic review of the market value of the assets to determine the “rental” payments by the customer. It is also recommended that Islamic financial institutions should share all associated costs in performing the contract.

Research limitations/implications
Research findings reported in this paper contribute to the body of knowledge on MM in general and to the Islamic finance practices in Malaysia and abroad. Indeed, the Malaysia Central Bank (i.e. Bank Negara Malaysia) should form a special committee to look into the issues highlighted in this paper and recommend strict guidelines for Islamic financial institutions to improve their practices.

Practical implications
Islamic banks should extend the use of MM contract in automobile and trade financing where rent or profit could be easily identified and value of the asset is more certain. The regulators and Islamic financial standard setting authorities need to oversee the Shari’ah board decisions on MM contracts and keep the gates in the interest of ensuring a more viable and authentic Islamic finance industry.

Originality/value
This paper briefly views the current mode of MM contracts, specifically for home financing, and highlights the incompliance to Shari’ah requirements in exercising these contracts in practice.
A note on the long-term performance of Korean ADRs
Authors: Schaub Mark 
Published: November 2017

PurposeThe purpose of this paper is to examine how Korean firm American Depository Receipts (ADRs) performed vs a US index and an Asia Pacific regional index. ADRs have been known to help cause-emerging economies become more developed and foreign exchange markets become more stable.Design/methodology/approachThe study utilizes standard ADR/IPO excess return methodology and presents returns on a month-by-month and cumulative basis for a three-year holding period beginning with the day of listing. Excess holding period returns are also provided.FindingsThe Korean firm ADRs trading on the NASDAQ underperformed both the US index and the regional Asia Pacific index for the first three years of trading. However, the Korean ADRs listed on the NYSE outperformed both the US index and the Asia Pacific index for the three-year holding period.Originality/valueThis paper shows how including equities of Korean firms traded in US markets in a stock portfolio helps to provide international diversification benefits. Solid performance vs market indexes may make subsequent and new issues from Korea more attractive in US equity markets.
Controlling shareholders and financial constraints around the world
Authors: Park Jin Ho , Park Kwangwoo , Ratti Ronald Andrew 
Published: November 2017

Purpose
The purpose of this paper is to examine the effect of controlling shareholders’ ownership of firms on the firms’ financial constraints in 22 economies for the 1982-2009 period.

Design/methodology/approach
The authors employ a generalized method of moments-based instrumental variables estimator to estimate empirical models.

Findings
It found that the overinvestment propensity of controlling shareholders becomes less severe with an increase in cash-flow rights. It further indicates that a higher deviation between the control rights and cash-flow rights of controlling shareholders lower their overinvestment propensity, thereby lowering the firm’s financial constraints.

Originality/value
The results suggest that a higher protective legal environment for minority shareholders blocks the entrenchment of controlling shareholders and thus benefitting the firm with slackened financing constraints in the given legal origin.
Advances in the corporate finance literature: a survey of recent studies on Korea
Authors: Lee Hongbok , Park Kwangwoo 
Published: November 2017

PurposeThe purpose of this paper is to provide a survey of recent studies on Korean firms’ financial policies and their interactions with financial markets, and suggest directions for future research.Design/methodology/approachThe authors review the finance research on Korean firms and markets, focusing on the articles published in the last 20 years.FindingsThis survey of the recent Korean finance literature covers the research on the capital structure and the distinct financing behaviors of chaebol-affiliated firms and independent firms; the factors affecting the costs of capital and firms’ preferences for capital budgeting methods; raising capital through public and private equity issuance; corporate governance and the market for corporate control; payout policies; and bank-firm relationship. The authors suggest a number of future research directions that may lead to significant contributions to the literature.Originality/valueThis paper provides the first comprehensive review of the post-crisis corporate finance literature in Korea.
More or less likely to offend? Young adults with a history of identified developmental language disorders*
Authors: Winstanley Maxine , Webb Roger T. , Conti‐Ramsden Gina 
Published: November 2017

AbstractBackgroundThere is now substantial literature demonstrating that a disproportionate number of young people who come into contact with youth justice services evidence unidentified language difficulties. These young people, therefore, have received little or no professional input in this area. Conversely, there is a dearth of research pertaining to criminality outcomes among those individuals with identified developmental language disorders (DLD) who have received such interventions.AimsTo examine police‐initiated contact and substance use outcomes of young adults with a history of identified DLD versus age‐matched peers (AMP). Additionally, self‐reported rule breaking behaviours and aggression are considered. We hypothesize that early identification/intervention reduces engagement with risky behaviour such as substance and alcohol use as well as offending‐related behaviours.Methods & ProceduresAdversarial police‐initiated contacts were examined in 84 young adults with a history of DLD and 88 AMP. Rule‐breaking and aggression were evaluated using the Achenbach Adult Self‐Report for ages 18–59 years.Outcomes & ResultsAdults with a history of DLD who received targeted intervention during their school years reported less contact with their local police service compared with AMPs at age 24. Comparable proportions of both groups reported current alcohol consumption, but group differences were found relating to alcohol use. No group differences in rule‐breaking behaviours were found, but the DLD group was found to have a statistically significant higher raw score on the aggressive behaviour scale.Conclusions & ImplicationsThere is a need for early identification of children with DLD. Early intervention aimed at ameliorating such difficulties could possibly have distal outcomes in relation to offending.
Spoken sentence production in college students with dyslexia: working memory and vocabulary effects
Authors: Wiseheart Rebecca , Altmann Lori J. P. 
Published: November 2017

AbstractBackgroundIndividuals with dyslexia demonstrate syntactic difficulties on tasks of language comprehension, yet little is known about spoken language production in this population.AimsTo investigate whether spoken sentence production in college students with dyslexia is less proficient than in typical readers, and to determine whether group differences can be attributable to cognitive differences between groups.Methods & ProceduresFifty‐one college students with and without dyslexia were asked to produce sentences from stimuli comprising a verb and two nouns. Verb types varied in argument structure and morphological form and nouns varied in animacy. Outcome measures were precision (measured by fluency, grammaticality and completeness) and efficiency (measured by response times). Vocabulary and working memory tests were also administered and used as predictors of sentence production performance.Outcomes & ResultsRelative to non‐dyslexic peers, students with dyslexia responded significantly slower and produced sentences that were significantly less precise in terms of fluency, grammaticality and completeness. The primary predictors of precision and efficiency were working memory, which differed between groups, and vocabulary, which did not.Conclusions & ImplicationsCollege students with dyslexia were significantly less facile and flexible on this spoken sentence‐production task than typical readers, which is consistent with previous studies of school‐age children with dyslexia. Group differences in performance were traced primarily to limited working memory, and were somewhat mitigated by strong vocabulary.
Comparison of animal, action and phonemic fluency in aphasia
Authors: Faroqi‐Shah Yasmeen , Milman Lisa 
Published: November 2017

AbstractBackgroundThe ability to generate words that follow certain constraints, or verbal fluency, is a sensitive indicator of neurocognitive impairment, and is impacted by a variety of variables.AimsTo investigate the effect of post‐stroke aphasia, elicitation category and linguistic variables on verbal fluency performance.Methods & ProceduresTwenty‐eight persons with aphasia (PWA) with a single left‐hemisphere lesion and 40 age‐matched neurotypical community‐dwelling adults were administered three verbal fluency tasks: two semantic (animals and actions) and one phonemic (the letters F, A and S). Data analysis included comparison of total scores, clusters and perseverations. Individual responses were coded for frequency of occurrence, age of acquisition and syllable length to investigate qualitative differences in word generation.Outcomes & ResultsPWA performed worse than neurotypical participants across all verbal fluency tasks, and animal fluency scores were farthest from neurotypical performance. PWAs’ animal and action fluency were correlated with other language measures, while phonemic fluency was uncorrelated with language measures. While some PWAs showed dissociations between verbal fluency tasks, the dissociations did not pattern along with aphasia fluency. PWAs produced fewer clusters and responses with higher word frequency across all three verbal fluency tasks. Responses had earlier age of acquisition and shorter word length for animal and phonemic fluency, but not action fluency.Conclusions & ImplicationsVerbal fluency, particularly animal fluency, is sensitive to even mild aphasia. PWA produced lexically simpler responses than their neurotypical peers. This study identifies the relevance of qualitative analysis of verbal fluency responses.