Recent researches in the field of entrepreneurship give a renewed interest in the role of women entrepreneurship in the economic development. This document aims to draw up an analysis of the effect of female entrepreneurship on economic growth using a panel data over the period 2000- 2014 for a sample of twenty-five (developed and developing) countries. Results show that female entrepreneurship has a significant negative effect but also entrepreneurship is considered the channel, it has an indirect impact on economic growth even business creation has been a real engine of economic development; these are seen as a means to generate employment opportunities, income distribution, wealth creation and poverty reduction. Some recommendations are presented, in order to support of government initiatives and the effect on women-owned business performance which are also important.
PurposeTo help inform the debate over whether socio-demographic characteristics are related to the use of digital technologies, the authors investigated the effects of age, gender, education, income and being in the workforce on changes in using financial digital services using panel data collected in the MENA countries during 2017.Design/methodology/approachThis study aims to identify the impact of government policy on the determinants of financial inclusion and digital payment services in the MENA region. The authors use microdata from the 2017 Global Findex database on MENA countries to perform probit estimations. The paper focuses on the role of technology adoption by government authorities in extending financial inclusion and digital payment around different people.FindingsThe authors find that poorer people (and, by association, less educated people) and the young (but less so the elderly) are disproportionately excluded from the financial system. Results confirm that better collaboration between the government and the financial sector can help to develop digital financial inclusion through the technology adoption channels. The study confirms the significant impact of the government cashless policy in advancing financial inclusion in the MENA countries, with potentially wider applicability to other developed economies.Practical implicationsPolicies to advance mobile money innovations could stimulate financial inclusion by promoting digital transaction services. The role of government authorities is imperative to harness the beneficial and sustainable gains from digitizing remittances and transfers to promote a cashless economy.Originality/valueFinancial inclusion promotes equality through a broadening of the system and government cashless policy can be a major catalyst for greater financial inclusion. It helps in the overall economic development of the underprivileged population and contributes to poverty reduction.
Purpose– This paper aims to investigate the relationship between corporate governance structures of French initial public offering (IPO) firms and the likelihood of failure and involuntary delisting from the stock exchange in the long run.Design/methodology/approach– A matched-pairs research design was used and 36 delisted IPO firms were compared to an equal number of control IPO firms matched in terms of time, size and industry. Conditional logistic regression analyses were performed, and it was found that corporate governance structures in delisted IPO firms were relatively weak compared to control IPO firms.Findings– A significant negative association was found between the likelihood of exchange delisting and the proportion of independent directors. A positive and significant relationship was also found between the likelihood of exchange delisting on the one hand and the chief executive officer/Chair role duality and the retained ownership by insiders after the IPO on the other hand. However, no relationship was detected between IPO failure risk and board size at the IPO time.Originality/value– Retained ownership and failure risk of French IPO firms.
International audience ; This article studies the determinants of the accounting of intangibles assets. The sample is constituted of 92 public and non-public firms in the year's 2003. Empirical analysis reveals that this accounting reduce debt covenants' effects, not informs stockholders of their project quality .Neverless, politic- costs hypothesis is not validated in the Tunisian context. ; Cet article examine les facteurs susceptibles d'influer sur la décision d'activation des dépenses immatérielles dans un pays émergent. L'analyse empirique (régressions linéaires et logistiques), portant sur les données relatives à l'année 2003 et sur 92 firmes cotées et non cotées, suggère que cette pratique permet essentiellement de réduire les contraintes d'endettement. Cependant, les hypothèses de réduction des coûts politiques, de maximisation de la rémunération et de valorisation boursière n'ont pas été confirmées.
Purpose The purpose of this paper is to examine the moderating effect of corporate governance on the impact of earnings management on dividend policy.
Design/methodology/approach In this paper, the authors selected French non-financial companies listed on the CAC All Tradable index during the 2008–2015 period. Feasible generalized least square regression method is used to estimate the econometric models.
Findings The empirical results allowed the authors to confirm and/or reject certain hypotheses. First, the ownership concentration seems to positively moderate the impact of earnings management on dividend policy. Another conclusion that the authors have been able to draw is that the effect of earnings management on dividend policy is more favorable in the case of firms with a small director's board.
Practical implications Our results have shown that French firms run earnings to inform the market that they can distribute dividends. Therefore, we recommend that the various partners of the firm pay more attention to the governance mechanisms of these types of companies and, in particular, in countries where foreign investors suffer from weak legal protection (Easterbrook, 1984; Gomes, 2000; La Porta et al., 2000 and Athari et al., 2016). In fact, standardization bodies, the Ministry of Finance, external auditors and stock exchange organizer must focus on sophisticated governance mechanisms to ensure better quality of financial reporting.
Originality/value To our knowledge, no other research has examined whether the impact of earnings management on dividend policy varies significantly with the moderating effect of certain governance mechanisms in France.
PurposeThis paper deals with the relationship existing between the emotional aspect and decision‐making processes. More specifically, it examines the links between emotional intelligence, decision biases and effectiveness of the governance mechanisms. The primary purposes of this paper are to: consider emotional intelligence as new research ideas that make important contributions to society; offer suggestions for improving manuscripts submitted to Consortium for Research on Emotional Intelligence in Organizations; and discuss methods for enhancing the validity of inferences made from research.Design/methodology/approachThe paper explains that the main cause of organization's problems is CEO emotional intelligence level. The authors use three models (linear regression and logistic binary regression) to examine this relation: every model treats the relationship between emotional intelligence and one of efficiency criteria of the board. Emotional intelligence has been measured according to Schutte et al.'s Shutte Self Report Emotional Intelligence Scale (SSREI), with a high internal validity level. The four cognitive biases have been measured by means of a questionnaire comprising several items and the selected sample was composed of some180 Tunisian executives (belonging to 60 firms).FindingsThe results revealed that the presence of a high emotional intelligence rate is not always positively correlated with the executives' suggestibility with respect to behavioural biases. They have also affirmed the existence of a complementarity relationship between emotional intelligence and the directors' board. Authors need to consider that emotion which minimizes CEO emotional biases and provides director's board effectiveness.Research limitations/implicationsThis article has implications for the development of CEO emotional intelligence capacity. Also, some psychological aspects of a theoretical nature could not be wholly approached in a complete empirical way.Practical implicationsThe paper pushes organizations to select managers based on their levels of emotional intelligence (apply tests of emotional intelligence in place psychometric tests). Also, it increases the validity of inferences made from research in the field.Social implicationsThis paper incites governments to establish training programs aimed at the development of learning of emotional intelligence. Thus, it has important implications for enhancing the well‐being of individuals, organizations and society as a whole.Originality/valueActually, for the sake improving the explanatory power of a legal‐financial approach of governance, the behavioural dimension has been integrated for a more thorough analysis of the directors' board role. The authors' goal consists in highlighting the role played by emotional intelligence as a skill or tool available for the manager or controller to minimize the behavioural biases (bias of loss aversion, optimism, over‐confidence and lack of cognitive flexibility), and achieves an effective control.
AbstractIn the recent coronavirus pandemic, several researchers have focused on the drivers of cryptocurrency behavior. In particular, this study provides insights into what can drive Islamic cryptocurrency markets and how do they react during the COVID‐19 pandemic. We explore the cryptocurrency volatility and the connectedness between the Islamic, conventional, and COVID‐19 confirmed cases and deaths using the wavelet approaches. The preliminary results show that faith‐based cryptocurrencies have reduced risk exposure than their conventional counterparts, in the long run, making them more appealing for investment, particularly for investors seeking low‐risk and Shariah‐compliant assets. Furthermore, the empirical results indicate that both Islamic and conventional cryptocurrencies are more sensitive to the death toll than the newly confirmed cases. We also observe significant positive co‐movements between Bitcoin and Islamic cryptocurrencies. Besides, Bitcoin exhibits a substantial response during various time scales while compared with Islamic cryptocurrencies. This study contributes to the literature by investigating the sensitivity and the vulnerability of a new category of cryptocurrencies backed by tangible assets to pandemic shocks. To the extent of the author's knowledge, this study is the first attempt that examines the co‐movement between Islamic and conventional cryptocurrencies using the wavelet approach. A viable, ethical, and alternative investment route for faith‐based investors can be provided by the Shariah‐Compliant cryptocurrencies as they are risk‐reduced and less sensitive to the pandemic than conventional benchmarks. Besides, this study creates opportunities in portfolio diversification for investors.
Purpose Nowadays, Bitcoin is facing many environmental problems arising from the proof of work based on blockchain. For this reason, Bitcoin Green (BITG) has been created and would solve these issues. The purpose of this paper is to visualize the users' perception toward BITG through Twitter text analysis.
Design/methodology/approach The big data used in this study includes two sources. The first data were extracted from the "Google Trends" engine during the period between 20 September 2015 and 15 September 2020. The second data were extracted from the Twitter application. This research explores the perceived ease of use, the perceived usefulness, the social influence, the perceived control and the user attitudes toward BITG. Therefore, lexicon-based sentiment analysis techniques combined with different dictionaries are built to visualize the drivers of investor attitudes toward the BITG using Twitter text messages. Besides, this study has checked the validity of two main assumptions using the normality (Jarque-Bera) and Kruskal-Wallis rank sum tests capable to conclude whether users mostly perceive BITG as a sustainable technology.
Findings This empirical work affords insights into users' intentions by exploring the drivers of BITG perception. The results show that users positively perceive the use of BITG as a sustainable blockchain. Besides, its usefulness is more appreciated from its ethical and technological characteristics, and its perceived application is mainly based on investment and coin offering use. Similarly, users are mostly showing positive emotions toward BITG.
Research limitations/implications Tweets related to "BITG" are not as voluminous as the other cryptocurrencies like Bitcoin and Ethereum, which make it difficult to extract all the characteristics and use cases.
Originality/value To the best of the authors' knowledge, this work is the first one that uses the theory of planned behavior and the theory of acceptance model to explore cognitive factors in understanding investor intentions in adopting BITG.
Purpose This paper aims to examine the effect of two CEO characteristics, namely, narcissism and overconfidence on corporate social responsibility (CSR) and the moderating effect of corporate governance (CG) mechanisms in the UK.
Design/methodology/approach Using a sample of 2,360 UK firms listed on the FTSE 400 index for the years 2010–2017, the feasible generalized least squares method was applied to test the hypotheses developed.
Findings The finding argues that CEO narcissism and overconfidence positively affect CSR. In addition, this paper found that CG effectiveness moderates the CEO's CSR behavior.
Research limitations/implications This research is subjected to two limitations. First, this study used different measures to proxy for CEO narcissism and overconfidence. However, other measures are not included owing to the difficulty to collect data regarding these measures. Second, this study includes only CSR performance instead of all other dimensions and categories of CSR. These limitations do not change the conclusions of this research, and they may provide guidance for further investigations.
Practical implications Given that the CEOs psychological and behavioral features are critical in understanding CSR, shareholders and boards of directors should incorporate the behavioral aspects of narcissistic and overconfident CEOs in the design of CSR strategy.
Originality/value This study emphasizes the importance of top executives' psychological characteristics for CSR, which is a key application and complements the "upper echelons theory" and fills the research gap in the literature. This is one of the few studies that investigate the interaction between CG, CEO profile and CSR.
