Spillover effects of FDI inflows on output growth: An analysis of aggregate and disaggregated FDI inflows of 13 MENA economies

This paper examines the effect of foreign direct investment (FDI) inflows on overall growth, as well as its sector-specific spillovers in the Middle Eastern and North African region during the period from 2000 to 2020. Our major innovation is our ability to disaggregate FDI into primary, secondary and tertiary and examine their individual impact on growth, as well as their sector-specific spillovers by using dynamic panel GMM methodology. We find prima facie evidence that total FDI significantly stimulates growth. However, when we turn to the disaggregated FDI data, primary sector FDI adversely affects the gross domestic product (GDP) growth in the service sector and overall GDP growth. On the other hand, secondary FDI has a ‘double-edged’ effect, benefiting its own sector (the service sector's GDP growth), but not other sectors. In contrast, service sector FDI stimulates GDP growth in mining, manufacturing and service sectors, thereby enhancing overall economic growth. Our findings have important policy implications regarding the incentives provided by governments to encourage FDI, which need to be fine-tuned to attract certain types of FDI (tertiary), with less focus on the primary sector     

Board gender diversity and acquisition choices

We investigate the influence of gender diversity on the acquisition choices of bidding firms and find that firms with greater gender diversity are more likely to acquire nonlisted targets, use cash as the method of payment, and purchase firms in similar industries. Results show that these preferences are significantly influenced by female directors' financial expertise, target industry experience, mergers and acquisitions (M&A) experience, academic and professional qualifications, and networks. The percentage of female directors on boards is positively correlated with the market response to the announcement of acquisition choices preferred by female directors. Furthermore, bidders improve efficiency and accumulate long-term value gains through the contributions made by their female directors to these acquisition choices.     

Measuring technical efficiency of banks vis-à-vis demonetization: an empirical analysis of Indian banking sector using CAMELS framework

Quality & Quantity - The present paper examines the banking industry’s technical efficiency for the pre-and post-demonetization period, using the case of India. A two-stage analysis has...     

Wind of change brought by COVID-19: Exploring the response and the new normal from the perspectives of Indian flexpatriates

Drawing from the positive organizational change theory, this paper aims to explore how Indian flexpatriates responded to the change brought by the pandemic of COVID-19 and what is the new normal according to them. Thematic analysis of 19 in-depth interviews with flexpatriates from the IT industry revealed four explicit phases of change process – reflection, communication, collaboration, and transformation. Further, the analysis brought out four tenets of the new normal. First, it is time to blend physical and virtual work; second, the “personal” touch of Indians in international assignments is irreplaceable; third, working from home amidst the entire household being housebound is the new normal; and last, international travel will resume soon with some changed protocols. This is the first qualitative study combining the issue of global talent management with Indian flexpatriates vis-à-vis the impact of COVID-19, the findings of which expand the positive organizational change theory and have important implications.