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     

Organic versus cosmetic efforts of the quality of carbon reporting by top New Zealand firms. Does market reward or penalise?

This study explores the quality of carbon reporting (QCR) by New Zealand (NZ) firms and its changes over time. It also explores the impact of QCR on the market reputation of firms. Using a sample of 300 company-year observations between 2015 and 2020 from top listed firms of NZ, the study develops a 14-item QCR index. The study finds that the company-level QCR reporting by NZ firms overall is not praiseworthy, as firms need to improve QCR in many aspects (both in-house efforts as well as external reporting). Although QCR has increased over time, firms' QCR efforts cannot be treated completely authentic. Majority of firms in NZ have disclosed unaudited carbon information to investors and other stakeholders. Additionally, our study finds that QCR positively affects the market reputations of firms, and the market behaves accordingly. Specifically, firms' organic carbon efforts are paid-off (through increased market reputation) by the market players and cosmetic/decoupled behaviour is penalised (through decreased market reputation). This study is the first on QCR reporting using a sample of NZ firms and an account of their initiatives towards the carbon emission reduction initiative and related disclosures. The study's findings have policy implications.     

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.     

Agrarian change,populism, and a new farmers' movement in 21st century Pakistani Punjab

Activists and scholars have debated whether “agrarian populisms” premised on multiple classes and groups can pursue progressive objectives if exploiters and exploited are in the same movements. In Pakistan, the militant Pakistan Kissan Ittehad emerged in 2012 by uniting different classes of owner-cultivators who are largely not in direct relations of exploitation with each other. We argue that the PKI nevertheless advances the interests of a “second tier” of rural capitalists, who exploit rural labourers, while underplaying the interests of owner-peasant farmers. This divergence of interests has contributed to the fragmentation of PKI along class and political lines, including attempts by peasant farmers to independently organize around issues particular to them. We suggest that progressive agrarian populism must hinge on the interests of rural labourers and peasant farmers and that second-tier capitalist farmers may be tactical allies as they oppose neoliberal globalization. However, rural labourers and peasants are ideologically and organizationally weak, and thus, the possibility of left-wing agrarian populism requires much legwork.     

Chief executive officer ability and corporate environmental sustainability information disclosure

This study explores the impact of CEO ability on corporate environmental sustainability information disclosure. We take samples from Chinese A-share listed companies from 2010 to 2019 and use the ordinary least squares as a baseline regression model to check the relationship between CEO ability and corporate environmental sustainability information disclosure. Our findings are robust to different corporate environmental sustainability information disclosure measures and CEO ability. We found a positive association between CEO ability and corporate environmental sustainability information disclosure; thus, firms with a more able CEO are more likely to disclose more corporate environmental sustainability information. Our results also found a significant negative interaction coefficient between CEO ability and CEO career concerns. As the CEO grows older, his/her ability decreases; therefore, corporate environmental sustainability information disclosure reduces. Furthermore, we document that a female CEO strengthens the relationship between CEO ability and corporate environmental sustainability information disclosure. The study results are important for understanding corporate environmental responsibility development and implementation, particularly in China.     

An empirical investigation of tourism-led growth hypothesis in the European countries: evidence from augmented mean group estimator

Portuguese Economic Journal - Due to urbanization and the need for people to go from one country to another either for commercial purpose or tourism, it is therefore important to determine the...     

Green innovation and SO2 emissions: Dynamic threshold effect of human capital

Green innovation is an effective path to decrease environmental pollutions. It is of immense interest to evaluate the roles of green innovation on SO₂ emissions reduction. We also investigate the static and dynamic threshold effect of human capital in the impacting paths of different innovations on SO₂ emissions. The empirical results show that the design patent increases SO₂ emissions while the development of utility patent can decrease SO₂ emissions based on the static analysis and dynamic analysis. Both the “pollution halo” and the “pollution heaven” hypotheses of foreign direct investment (FDI) are validated in China. Moreover, green innovation positively affects SO₂ emission reduction based on the System Generalized Method of Moment (SYS-GMM) estimation. Both static and dynamic panel threshold regression results reveal that the positive effects of different innovations will become larger when human capital exceeds the corresponding threshold values. Hence, it is important to enhance green human capital.     

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.     

UNRAVELLED HOMES: Forced Evictions and Home Remaking in Jakarta

This article explores the contours of modernization in the unmaking and remaking of homes among evicted and resettled families in highrise housing. We examine the trajectories of forced eviction by drawing upon interviews with 17 individuals from nine evicted families who have transitioned from living in informal settlements to highrise social housing (rusunawa) in Jakarta. Drawing on two strands of literature—‘developmental idealism and the family’ from population studies and the critical geographies of ‘homemaking’—we argue that the demolition of houses is but an initial event in a long, quiet and subtle, yet profoundly defining, process of ‘upgrading’ families as part of ‘improving’ society, according to developmental logic. The disciplining of the urban poor does not end with the demolition of their houses, but rather continues as part of the fulfilment of shelter. This article attends to the slow unravelling of home hidden and embedded in post-eviction everyday lives, which are often overlooked because of the overt and violent brutality of forced eviction. While eviction can be seen as the violent visual expression of developmentalism, we argue that the relocation in rusunawa is where this ideal permeates into daily domestic life, making mundane activities a battleground for different ideals of ‘home’.