Resilience of sustainability‐oriented and financially‐driven organizations

To answer key questions concerning how negative and positive financial performance gaps motivate organizations to build more resilient systems, we develop a conceptual process model to reveal the process by which financially and sustainability‐driven organizations can translate these negative and positive financial performance gaps into organizational resilience. We specify the different modes of search behaviors that these organizations pursue when encountering negative and positive financial performance gaps. We then expand on group engagement model to theorize that vicarious search is likely to encourage limiting behaviors, whereas internal search is likely to foster promotion behaviors. Finally, we explain how both promoting and limiting behaviors can be helpful in improving organizational resilience. In this way, we hope to advance research that connects and integrates relatively disparate realms and, more specifically, to contribute to the sustainability, resilience, and performance feedback literatures.     

Financial crisis and persistence: evidence from sticky expectations consumption growth model

We estimate the degree of stickiness in aggregate consumption growth for the U.S. considering the effects of the Great Recession. The behavior of stickiness estimate in the crisis is somewhat as the U-shaped pattern. Our findings imply that during the crisis consumers’ attentiveness to aggregate information has slightly increased, thereby reducing the persistence of aggregate consumption growth. However, the reduction in persistence is transitory. Since 1980, the U.S. faced five recessions and in most of them the degree of stickiness declined, albeit temporarily.     

How do green knowledge management and green technology innovation impact corporate environmental performance? Understanding the role of green knowledge acquisition

Increasing regulatory obligations to adapt and execute environmentally friendly operations make it critical for businesses to pursue strategies that can strengthen their competitive edge in the market. Academics and practitioners alike have recently gravitated toward exploring how knowledge acquisition activities might improve business outcomes. To address this growing research interest, this study investigates the critical roles of green knowledge acquisition in enhancing green knowledge management and green technology innovation activities in improving corporate environmental performance, positioning resource commitment as a moderator. The research model has been assessed using structural equation modeling with survey data from 283 Indian manufacturers, demonstrating that green knowledge acquisition significantly impacts green knowledge management and green technology innovation. The statistical findings also show that green technology innovation acts catalyzes the translation of green knowledge management into improved corporate environmental performance. The results demonstrate that resource commitment moderates green knowledge acquisition's interaction with green knowledge management and green technology innovation, providing practical insights enabling managers to focus on planning, allocating, and budgeting resources for effective green practices that can contribute to improving corporate environmental performance.     

Mediating role of trust in the impact of perceived empathy and customer orientation on intention to continue relationship in Indian banks

Journal of Financial Services Marketing - Despite the relevance of empathy in banking services, very few studies in literature have investigated the multidimensional nature of both cognitive and...     

Has local informational advantage disappeared?

This study examines how changes in the information environment affect the informational advantage of geographically proximate agents. The long‐term advantage of local agents disappeared at the turn of the millennium. This is accompanied by the reduction in local bias of institutional investors and equity analysts. However, institutional investors continue to trade local stocks disproportionately more often than non‐local stocks; moreover, their local trades outperform non‐local trades in the short term—even for large and liquid stocks. Our results are consistent with improvements in the information environment shortening the horizon of proximity‐based informational advantage.     

Dynamics of international integration of government securities’ markets

This paper investigates the dynamics of international government bond market integration in six of the G7 economies over two decades leading up to the global crisis. It examines whether such integration had been significant; the extent to which integration at the short and long end of the yield curve differed; the nature of such integration; and the extent of the decoupling of the long rates from short rates. These issues are investigated using the rigorous smooth-transition copula-GARCH model framework. The results show that integration at the long end of the yield curve had been increasing, had become pronounced, and was significantly greater than at the short end. Decoupling between the short and long end of the yield curve was notable, with important implications for the efficacy of monetary policy in the period before the crisis.     

Implications of bank ownership for the credit channel of monetary policy transmission: Evidence from India

Using bank-level data from India, we examine the impact of ownership on the reaction of banks to monetary policy, and also test whether the reaction of different types of banks to monetary policy changes is different in easy and tight policy regimes. Our results suggest that there are considerable differences in the reactions of different types of banks to monetary policy initiatives of the central bank, and that the bank lending channel of monetary policy is likely to be much more effective in a tight money period than in an easy money period. We also find differences in impact of monetary policy changes on less risky short-term and more risky medium-term lending. We discuss the policy implications of the findings.     

Small Firm Capital Structure and the Syndicated Loan Market

We show that small firms using syndicated loans for their mid- and long-term financial needs have significantly higher leverage than firms that do not borrow in this market. This difference cannot be attributed to firm characteristics like the availability of growth opportunities, asset tangibility, R&D spending, profitability and net sales that are known to influence capital structure. We also find that the capital structure of other firms that borrow in the syndicated loan market is not different from those that do not. We show that already highly leveraged small firms are more likely to borrow in the syndicated loan market than other firms. The higher debt in the capital structure of small firms that rely on syndicated loans consequently can be attributed to the availability of capital rather than demand for capital, as shown more generally by Faulkender and Petersen (Rev Financ Stud 19(1):45?C79, 2006).     

Fifty years of The Financial Review: A bibliometric overview

The Financial Review (FR) is a highly regarded journal publishing original empirical, theoretical, and methodological research in all areas of financial economics. It celebrated its golden jubilee year in 2018. Using bibliometric techniques, we analyze the journal's impact, prominent topics, most prolific authors, and their affiliated institutions and countries. Our analysis also identifies the most often cited articles at different points in the journal's history. Using textual data analytics, we identify the most frequent themes discussed between 1969 and 2018 by decade.     

Toward Closing the Loop between Infrastructure Investments and Societal and Economic Impacts

The long-term value proposition of transportation infrastructure investments can be significantly distorted if the short-term effects of spatial externalities on land use patterns, economic expansions, and migration patterns are not properly included in the analysis. Some of these effects occur over a short period of time and soon after the investment materializes, whereas others take longer and follow more steady patterns. In this article, we develop a novel dynamical model of a primal society with constructs that are specifically geared toward transportation infrastructure expansions and investments. The model quantifies the impact of these expansions on some key performance indicators and on the overall utility and production capacity of the society. We argue that traditional analytical models that work on the premises of stationary behavior and a static response of society to changes in infrastructure do not correctly capture these effects. The land use patterns and spatial expansion computed from the model are validated against existing theory on land use. Preliminary results on how to use the model for value proposition analysis are also presented using simple case studies.