Purpose This paper highlights how environmental corporate social responsibility (ECSR) leads to green competitive advantage in emerging market manufacturing SMEs by clarifying the capability-building process through which ECSR initiatives add value under institutional restrictions. Design/methodology/approach This paper draws on the Natural Resource-Based View and ambidexterity theory to develop and test a serial mediation model whereby ECSR leads to green ambidextrous innovation that results in enhanced environmental performance and, ultimately, improved green competitive advantage. A sample of 385 managers from manufacturing SMEs in Jordan was surveyed, and the data were analyzed using partial least squares structural equation modeling (PLS-SEM) in SmartPLS 4. Findings Our findings show a significant sequential pathway where ECSR leads to green ambidextrous innovation, which in turn improves environmental performance and leads to green competitive advantage. ECSR also has direct effects. Green ambidextrous innovation and environmental performance play a key role in converting ECSR to competitive advantage. Practical implications Managers must integrate ECSR as a dynamic ability and strive to develop ambidextrous green innovation, balancing incremental enhancements and radical eco-innovations. It is recommended that policymakers put in place enabling regulatory and financial policies to support green resource transitions in resource-constrained industrial sectors. Originality/value Using evidence from Jordan's manufacturing SMEs, this study advances the CSR–performance literature by providing a process-based explanation of how ECSR translates into competitive outcomes. By identifying a sequential capability-building pathway linking ECSR, green ambidextrous innovation and environmental performance, the study clarifies how sustainability advantages emerge over time in resource-constrained and institutionally constrained contexts.
Purpose The aim of this study is to examine the customer experience in the online food ordering process from the perspective of Service-Dominant Logic (S-D Logic) and to develop a customer journey map that captures how value is co-created across different touchpoints in this industry. Design/methodology/approach Semi-structured interviews were conducted with 30 active users of online food ordering platforms who had placed at least one order in the last three months. The data were analyzed using thematic coding with MAXQDA 24. The customer journey was examined across three stages – pre-purchase, purchase, and post-purchase – focusing on how customers and platforms jointly contribute to value creation at each touchpoint. Findings The findings reveal that value co-creation in online food ordering is shaped by multiple functional and experiential touchpoints, including interface usability, information transparency, payment flexibility, delivery reliability, and customer service interactions. These touchpoints influence not only customer satisfaction but also customers' active participation in the service process, consistent with the principles of S-D Logic. Originality/value This study makes two main contributions to the literature. First, it advances customer journey research by integrating S-D Logic into the analysis of online food ordering experiences. While prior studies typically describe customer journeys as sequences of touchpoints or service encounters, this research reconceptualizes the journey as a “value co-creation system” in which customers and platforms jointly shape service outcomes at every stage. Second, the study provides one of the first empirically grounded customer journey maps for the online food ordering industry that explicitly incorporates value-in-use and customer participation. By identifying how customers contribute to value creation through actions such as information processing, customization, feedback, and problem resolution, the proposed framework offers a theoretically enriched perspective that goes beyond operational or purely managerial interpretations of customer experience.
Purpose This study examines how digital human resource management (DHRM) is associated with organizational resilience (OR) in Pakistan’s textile sector by testing the mediating role of HRM system maturity (HRMSM) and the moderating role of leaders’ growth mindset (LGM). Design/methodology/approach A quantitative, cross-sectional survey was conducted with 410 HR managers from different sectors of textile in Pakistan. Validated measurement scales were employed, and data were analyzed using Partial Least Squares Structural Equation Modeling with 5,000 bootstrap samples. Findings The results indicate a strong and positive impact of DHRM on OR. Contrary to expectations, mediation of HRMSM is not statistically significant. LGM significantly strengthened the positive impact of DHRM on OR, while no moderating effects were observed for the process-oriented pathways involving HRMSM. Overall, the model demonstrated satisfactory fit and explained a meaningful proportion of variance in OR. Practical implications Managers in the textile sector should prioritize digital HR practices that enhance communication, analytics and responsiveness, while simultaneously investing in leadership development that fosters learning and adaptability. Deeper HR system integration may be pursued as a longer-term strategic objective. Originality/value This study advances the relevant field of knowledge by integrating dynamic capabilities theory and growth mindset perspective to explain OR in a developing economy context. The findings suggest that DHRM can enhance OR even when HR systems are at relatively low maturity levels, particularly when supported by growth-oriented leadership mindset.
Purpose The purpose of this paper is to develop and evaluate logistic regression (LR) based bankruptcy prediction models for enterprises in the Visegrad Group (V4) countries in the post-COVID period. The research assesses the stability, interpretability and predictive efficacy of accounting-based early warning models across multiple forecasting horizons and national contexts. Design/methodology/approach The empirical analysis is based on firm-level financial data for 24,922 enterprises from V4 countries, obtained from the ORBIS database. Financial indicators from 2020 to 2022 are used to predict enterprises' financial condition in 2023. LR models are estimated for three horizons using a common set of predictors. A pooled V4 model and country-specific models are developed and evaluated using a 70:30 training-testing split, with performance assessed via accuracy, sensitivity, specificity, area under the curve (AUC) and pseudo-R2. Findings The results indicate that LR models provide strong predictive performance, particularly at shorter horizons, with high accuracy and AUC values across the V4 region. Total indebtedness and interest burden emerge as the most significant and consistent predictors of financial distress, while liquidity indicators play a limited role. Predictive performance consistently deteriorates with an extended horizon, exhibiting cross-country differences, with weaker sensitivity in the Hungarian models. Originality/value This study provides one of the first post-COVID evaluations of multi-horizon LR bankruptcy models in the V4 region using a harmonized dataset and unified modeling framework. By emphasizing explainable and economically interpretable models, the paper complements the growing machine learning (ML) literature and offers updated early warning insights for European transitional economies.
Purpose This study aims to examine the pivotal factors that influence microinsurance uptake, which plays a crucial role in the economic advancement of the marginalized section of society. Design/methodology/approach This study follows Preferred Reporting Items for Systematic Reviews and Meta-Analyses guidelines while using systematic literature. The literature review for this study was done using specific keywords across various databases. A thorough search and screening process helped in shortlisting 40 relevant studies for the final review. Qualitative analysis software, NVivo, was used to reveal and analyze the important themes and sub-themes that impact microinsurance adoption. Findings The systematic review identifies several critical themes that influence microinsurance inclusion. These themes include, but are not restricted to, using proper distribution channel, financial literacy, propensity to insure, demographic factors, affordability and technology adoption. The literature review also draws attention to the research issues, like last-mile delivery channels, regulatory framework and technology integration. Research limitations/implications This research is heavily dependent on secondary data and publicly available literature and information. The quantitative analysis should be carried out by designing the conceptual framework and empirically testing it in future research. Practical implications The findings of the research can be utilized by insurance entities, policymakers and respective regulators to build customized microinsurance products and strategies to mitigate the challenges of low income and awareness level and reach every doorstep. Originality/value The research work makes a contribution by integrating the dispersed knowledge on microinsurance adoption and identifying areas and/or factors requiring further research.
Purpose This study investigates the interconnectedness among local Omani banks listed on the Muscat Stock Exchange during both bear and bull markets, as well as across different investment horizons. It aims to understand how market volatility and investor sentiment affect the systemic risk, resilience, and efficiency of these financial institutions, especially during periods of market stress and uncertainty.Design/methodology/approach The research employs the quantile frequency connectedness approach of Chatziantoniou et al. (2022) using daily data for six Omani banks from June 10, 2012, to December 31, 2024. The analysis decomposes interbank connectedness across quantiles (to capture bear, normal, and bull markets) and investment horizons (short- and long-term), utilizing network analysis and advanced econometric techniques to identify dynamic systemic relationships.Findings The findings reveal significant variation in the roles and systemic importance of Omani banks across different market conditions and timeframes. Muscat Bank and Dhofar Bank consistently serve as major net transmitters of shocks, helping to stabilize the system during periods of market volatility, while Nizwa Bank is consistently a net receiver, indicating vulnerability and dependence on external funding. Connectedness is higher during financial crises (2015-2020), with short-term interactions showing rapid responses to market shocks and long-term interactions reflecting stable structural links. Network analysis emphasizes the central role of Muscat and Dhofar Banks, with Nizwa Bank remaining comparatively isolated.Research limitations/implications The analysis is limited to the banking sector, excluding potential interactions with other financial institutions such as insurance companies or investment funds. Future research should broaden the network to include these sectors and incorporate additional macroeconomic variables. Comparative studies across the Gulf Cooperation Council (GCC) countries could further contextualize systemic risk profiles and regulatory responses.Practical implications The study results offer actionable insights for regulators, policymakers and investors on identifying systemically important banks and designing targeted interventions to strengthen banking sector resilience. Understanding dynamic interbank linkages helps in stress testing, crisis management and developing regulatory policies to reduce systemic risk, especially in oil-dependent emerging economies like Oman.Originality/value This paper is the first to apply a quantile frequency connectedness approach to the Omani banking sector, offering a detailed, frequency-based view of systemic risk. It incorporates the effects of recent technological and regulatory changes, provides policy-relevant insights during crisis periods (e.g. COVID-19) and fills gaps in the literature regarding sustainability and efficiency in emerging markets. The research introduces a new empirical framework for analyzing financial networks across different market regimes.
Purpose This study aims to analyze the optimization of Enterprise Risk Management (ERM), profitability, and leverage on firm value in banking companies listed on the Indonesia Stock Exchange (IDX) for the 2020–2023 period. Design/methodology/approach The research sample consists of 43 companies, selected using a purposive sampling method, resulting in 151 data points obtained from annual reports, management reports, and corporate governance reports. Findings The findings reveal that profitability positively influences firm value, leverage negatively influences it, while ERM shows no significant effect. This non-significance, despite strong regulatory mandates for ERM in the banking sector, contrasts with previous studies and signals that investor valuation may prioritize financial performance over mandated risk disclosures. Practical implications These findings carry important implications for investors, regulators, and corporate strategists aiming to optimize firm value beyond regulatory frameworks. Originality/value The study contributes novel insights by examining this anomaly in a highly regulated emerging market context, suggesting that regulatory compliance alone may not enhance perceived firm value.
Purpose This study examines a comprehensive bibliometric analysis on Financial Planning awareness, using the Scopus database. It aims to uncover key thematic areas, research trends, and knowledge gaps within this emerging domain. Design/methodology/approach Biblioshiny R software and Vosviewer are used to provide a comprehensive overview of thematic map analysis, bibliographic coupling, co-author analysis, co-citation analysis and co-word analysis. These techniques facilitated the identification of influential authors, collaborative networks, research clusters and the thematic evolution of the field. Findings The analysis reveals a growing scholarly interest in financial planning, with a significant surge observed in 2024. Fragmented clusters currently characterise the field focused on behavioural finance, managerial strategies and technological innovations. This fragmentation highlights the need for more cohesive and integrative frameworks to guide future research and practice. Practical implications Practically, the findings encourage the development of integrated financial planning frameworks that combine behavioural, strategic and technological insights. There is a clear need for more robust methodologies, such as longitudinal and experimental studies, to guide effective financial tools and policies. Social implications The study highlights the growing societal interest in financial planning, emphasising the need for inclusive and equitable access to financial knowledge. It also calls for increased financial literacy and resilience, particularly in response to global shocks such as pandemics and inflation crises. Promoting interdisciplinary and international collaboration can foster more socially responsive and inclusive financial systems. Originality/value This study makes an original contribution by mapping the intellectual landscape of financial planning awareness and suggesting a future research agenda that is readily adaptable to respond to changes in technology, focused on the world and interdisciplinary by nature. The findings have practical implications for academics, practitioners and policymakers looking to improve financial literacy, inclusiveness and resilience in a changing economic landscape.
Purpose This study examines how management accounting information systems (MAIS) mediate the relationship between Simons' (1995) levers of control and organizational performance. Building on the dynamic tension perspective, this study proposes that MAIS serve as the critical operational mechanism through which enabling controls (belief and interactive systems) and constraining controls (boundary and diagnostic systems) influence both nonfinancial and financial outcomes. Design/methodology/approach Using survey data from 158 large and medium-sized enterprises in Saudi Arabia's manufacturing and service sectors, analyzed through structural equation modeling (SEM) conducted in AMOS 21, this study demonstrates that MAIS mediate the effects of control systems on performance. Findings The results reveal that enabling controls foster innovation and adaptability through MAIS-enabled strategic learning, while constraining controls achieve operational discipline through MAIS-mediated monitoring and compliance. Importantly, this study identifies a sequential performance pathway where MAIS-driven improvements in nonfinancial metrics subsequently enhance financial results. These findings provide empirical evidence that information systems are not merely passive tools but active intermediaries that shape how control systems translate into organizational success. Originality/value This study contributes to management control theory by empirically validating MAIS as the core operational mechanism that reconciles the inherent tension between innovation and discipline. Building on this foundation, the study makes three key theoretical advances: First, it repositions MAIS as the core integrative mechanism within control frameworks. Second, it extends Simons' framework by demonstrating how control levers require information system intermediation to realize their strategic potential. Third, it enhances the balanced scorecard paradigm by mapping the processual transformation of controls into financial outcomes through nonfinancial capabilities.
Purpose This study investigates the asymmetric and nonlinear impacts of interacting uncertainty factors − geopolitical risk (GPR), financial stress and Twitter-based Economic Policy Uncertainty (TEU) − alongside green bond market dynamics on the price behavior of ten major agricultural and dairy commodities. Design/methodology/approach The empirical framework integrates a Nonlinear Autoregressive Distributed Lag (NARDL) model to capture long-run structural asymmetries with a Cross-Quantilogram (CQ) approach to identify state-dependent directional dependence. Using monthly data from January 2013 to January 2023, the analysis evaluates transmission mechanisms across deciles (0.1–0.9), capturing dynamics from bearish (0.1–0.3) to bullish (0.7–0.9) market regimes. A pre- and post-COVID-19 subsample analysis (2013–2019 vs 2020–2023) is also conducted to assess structural shifts. Findings The NARDL estimations reveal significant long-run asymmetries, indicating that financial stress and green bond dynamics exert persistent structural effects, contributing to an environmental risk premium in agricultural prices. The subsample analysis suggests that transmission intensity and adjustment dynamics become more pronounced during crisis periods. Furthermore, the CQ analysis uncovers strong regime-dependent dynamics: under bullish conditions (upper deciles, τ ∈ [0.7, 0.9]), negative directional dependence dominates, while under bearish conditions (lower deciles, τ ∈ [0.1, 0.3]), positive dependence prevails, consistent with the supply disruption channel. Originality/value This study contributes a unified nonlinear framework that conceptualizes agricultural price formation through four transmission channels. By capturing structural asymmetries, crisis-induced shifts, and decile-dependent predictability, it provides novel insights for quantile-contingent portfolio strategies and for policymakers aiming to enhance food security and market stability.
Purpose This study developed a cluster-based framework for measuring MSME ecosystem performance that addresses the limitations of monolithic rankings by accounting for structural heterogeneity across Indian states. Design/methodology/approach A two-stage analytical framework is employed using panel data from 28 Indian states (2016–2021). First, K-means clustering grouped states into homogeneous ecosystem configurations based on 20 indicators across five facilitators: Regulatory Framework, Entrepreneurial Capabilities, Credit Support, Market Conditions and Cultural Factors. Second, TOPSIS with Shannon Entropy objective weighting generated performance rankings within each cluster. Temporal alignment analysis examined correspondence between ranking patterns and documented policy interventions. Findings The analysis identified two stable ecosystem configurations – less-industrialized and industrialized – validating regional heterogeneity hypotheses. Intra-cluster rankings demonstrated meaningful performance differentiation and temporal correspondence with state-level MSME policies. Bihar’s rise in the less-industrialized cluster aligned with agro-processing incentives; sustained leadership by Tamil Nadu, Andhra Pradesh and Karnataka in the industrialized cluster corresponded with fiscal and innovation policies. Research limitations/implications Secondary data limitations and contradictory cases prevent definitive causal attribution. Integrating firm-level longitudinal data through primary survey will strengthen construct validity and enable the development of a formal, operationalizable MSME Performance Index for entrepreneurial ecosystem heterogeneity and policy effectiveness. Practical implications The framework will enable state governments to benchmark performance against structurally similar peers so less-industrialized states should compare against Cluster 1 comparators rather than industrialized Cluster 2 states and to prioritize cluster-specific interventions focus should be on credit access for less-industrialized ecosystems and innovation infrastructure for industrialized ones. Shannon Entropy weights identify high-impact facilitators within each cluster, enabling targeted rather than uniform policy design. Cluster transition signals (such as West Bengal’s movements between configurations) provide early warning mechanisms for ecosystem instability, supporting proactive rather than reactive governance. Originality/value This study advances MSME ecosystem measurements by demonstrating that cluster-based performance assessment captures policy-responsive dynamics that uniform benchmarks obscure. This framework establishes a methodological foundation for context-sensitive policy evaluation in federal economies with substantial regional disparities, offering a replicable approach for developing countries pursuing MSME-led inclusive growth.
Purpose This article assesses the relationship quality between farmers and traders to ascertain market efficiency of the plantain market system in mid-Ghana.Design/methodology/approach Using exploratory factor analysis, statements of plantain farmers' perceptions of the relationship between them and their traders were employed to test the relationship quality.Findings The results indicate that the key determinants of relationship quality between plantain farmers and their traders are commitment, satisfaction and trust, in that order of importance. These findings support the assertion that commitment, satisfaction and trust constitute the core building blocks of strong relationship quality. This is consistent with relationship marketing theory, which posits that buyers and sellers engage as long-term partners in exchange processes grounded in trust and guided by the marketing concept. Furthermore, the analysis reveals a cumulative explained variation of 60.8% in relationship quality, suggesting a generally high level of relationship strength between plantain farmers and their traders. This, in turn, implies that the plantain market may exhibit a relatively high degree of market efficiency.Research limitations/implications This implies an overall good quality of the relationship between plantain farmers and their traders and gives an indication that the mid-Ghana area experiences good market efficiency in the plantain marketing system. However, a more dedicated implementation of government policy on standardisation for food produce marketing and, in particular, for plantain marketing would be necessary to improve the relationship quality between the farmers and the traders to reduce transaction costs and hence enhance market efficiency.Originality/value The article adds to the few studies that have focused on buyer-seller relationships in the smallholder agricultural sector in Ghana and in other developing countries.
Purpose Energy risks, financial access (FA) and women's economic participation remain crucial scholarly and policy concerns in the achievement of the United Nations sustainable development goals. This study assesses the link between energy risks, FA and women's economic participation in Africa.Design/methodology/approach The focus is on 31 African countries for the period 2000-2019. The empirical evidence is based on quantile regressions (QR) and the generalized method of moments (GMM). Interactive regressions are employed in order to provide more room for policy implications.Findings Positive and negative FA thresholds are consistently established for the QR and GMM results. Positive FA thresholds are turning points where the negative effect of energy risk on women's economic participation (i.e. female labors force participation and female employment) is completely mitigated. Negative FA thresholds are turning points where the positive effect of energy risk on female unemployment is completely crowded-out. The FA thresholds are within policy range and contingent on the conditional distribution of women's economic participation.Practical implications Reaching FA thresholds is necessary to change the unconditional impact of energy risks on women's economic participation (unemployment) from negative (positive) to positive (negative). It follows that FA critical levels are necessary to reverse the unfavorable negative (positive) influence of energy risks on female employment (unemployment). The recommended FA thresholds in order to completely mitigate the unfavorable effect of energy risk on women's economic participation are both feasible and implementable. The policy implications are directly related to promoting SDG5 on the economic empowerment of women as well as SDG7 on affordable and clean energy. Other policy implications are discussed.Originality/value The study complements the extant literature by examining linkages between energy risks, FA and women's economic participation.
Purpose Despite notable progress in promoting financial inclusion (FI) to drive economic growth (EG), Africa still lags behind other regions due to structural challenges, including inadequate infrastructure, regulatory barriers and low financial literacy, amongst others. More importantly, rising insecurity (INS) in the form of conflicts, terrorism, kidnapping, communal violence, etc., poses significant threats to the effectiveness of FI in fostering EG via disruption of financial systems, displacement of people, destruction of infrastructure and erosion of investor confidence. This study explores the influence of INS on the FI-EG nexus, particularly in Africa.Design/methodology/approach To assess the role of INS on the FI-EG nexus, this research employs the system-Generalized Method of Moments to analyse panel data for 39 African economies, further grouped into Lower Middle Income and Lower Income countries, during the 2004-2023 period. In addition, the study adopts the Principal Component Analysis (i.e. PCA) to construct the FI index.Findings The results portray that FI impacts EG positively (0.088/0.066), while rising INS erodes the growth-benefits of FI (-0.150/-0.184) in Africa in the full sample. This empirical evidence is consistent across different income groups. Moreover, agricultural output expansion promotes EG, but excess money supply impacts EG adversely.Research limitations/implications The study unravels the significance of ensuring greater security to reap the growth-benefits of FI in Africa.Originality/value The research is the first to explore the role of INS (proxied by military expenditure) on the FI-EG nexus in Africa.
Purpose This study investigates how macroeconomic, financial sector and regulatory conditions influence corporate sukuk issuance in selected Organisation of Islamic Cooperation (OIC) countries, particularly focusing on the disruptions caused by the COVID-19 pandemic. Design/methodology/approach Secondary annual panel data covering corporate sukuk issuance in selected OIC countries from 2015 to 2024 were sourced from LSEG Refinitiv, Fitch Connect, IMF and WFE databases. A two-step empirical strategy is adopted: the least squares dummy variable corrected (LSDVC) estimator controls for dynamic bias, while instrumental variable quantile regression (IVQR) uncovers heterogeneity across the issuance distribution and addresses endogeneity. Banking credit is decomposed into conventional and Islamic components, and COVID 19 dummy and post-COVID dummies isolate crisis and post-crisis effects. Findings Bank credit complements sukuk issuance, most strongly at lower quantiles where markets are nascent. Equity-market depth peaks at the median quantile, indicating an ecosystem effect at intermediate market maturities that tapers in the most developed jurisdictions. Islamic banking assets substitute for sukuk across all quantiles, consistent with pecking-order theory. Sovereign debt benchmarks uniformly promote corporate issuance. The COVID-19 shock sharply curtailed issuance, and the post-crisis coefficient remains negative at half the magnitude, confirming flight-to-quality behaviour and persistent market scarring. Research limitations/implications Policymakers should pair banking-sector deepening with tax-neutrality and documentation reforms and institutionalise crisis-response mechanisms to safeguard issuance pipelines. Originality/value By isolating corporate sukuk, employing distribution sensitive econometrics and disaggregating banking variables, the study reconciles conflicting earlier results and delivers quantile-specific actionable guidance for building resilient Islamic capital markets.
Purpose The relationship between macroeconomic indicators, banking sector vulnerabilities and sovereign risk in Pakistan is examined in this article. It evaluates risk spillovers and their effect on financial stability within the framework of dynamic interconnectivity. Design/methodology/approach The sovereign risk, banking risks which include credit risk, liquidity risk, interest rate risk, risk-taking behavior and bank stability and macroeconomic indicators gross domestic product (GDP), GDP growth inflation rate, unemployment are all examined using a time-varying parameter vector autoregression (TVP-VAR) model. The study looks at the transmission of systemic risk using data from 2008 to 2024. Findings Debt-to-GDP ratio and inflation rate emerged as transmitters of spillover. There is supposed to be a strong connectedness between GDP and External debt of Pakistan in theory, but results reveal that there is low connectedness between the two as Pakistan increases its nominal GDP, not real GDP, which makes the connectedness relation so weak, while stochastic volatility changes over time as different events and financial situations change. According to the impulse response function (IRF), shocks from government debt impair economic growth and financial stability. Originality/value By directly applying TVP-VAR to banking variables, this study offers policymakers and financial organizations insightful information about how financial risk is transmitted in Pakistan. Further, this study provides the details of the impulse response function analysis. On the basis of the results, this study provides crucial policy insights and practical implications.
Purpose This study investigates the effect of exports on income inequality in sub-Saharan Africa (SSA). While trade is often regarded as a catalyst for growth, SSA’s heavy reliance on primary commodity exports has raised concerns about its role in perpetuating income disparities. The research aims to provide empirical evidence on whether exports reduce or exacerbate inequality in the region. Design/methodology/approach The study employs panel data covering 39 SSA countries between 2010 and 2018, drawing on data from the World Bank, The United Nations Development Programme (UNDP) and United Nations Conference on Trade and Development (UNCTAD). Both static (fixed and random effects) and dynamic (system-GMM) panel estimation techniques are applied to address issues of endogeneity, serial correlation and heteroscedasticity. Inequality is measured using the Gini coefficient and the adjusted Atkinson index, while explanatory variables include export and import openness, Foreign Direct Investment (FDI), government spending, human development and employment levels. Findings Results reveal strong level of persistence of inequality across SSA, with exports found to significantly increase income disparities. Export dependence dominated by capital-intensive and resource-driven sectors such as oil and minerals aggravates inequality by concentrating revenues among elites. Conversely, imports generally reduce inequality by promoting efficiency and broadening access to goods. Other findings show that foreign direct investment and government spending often worsen inequality, while human development and employment contribute modestly to reducing disparities. Originality/value This study contributes to the literature by (1) applying a dynamic system-GMM framework to address endogeneity and persistence in inequality, (2) employing Purchasing Power Parity (PPP)-adjusted trade openness measures alongside dual inequality indices and (3) providing SSA-specific evidence linking export structure (commodity dependence) to inequality outcomes.
Purpose This study investigates how the United States (US) tourism sector responds to global pandemic shocks by employing the World Pandemic Uncertainty Index (WPUI). It departs from outbreak-specific analyses to evaluate the overall impact of global pandemic uncertainty on tourism performance and the US dollar index. Design/methodology/approach Using monthly data from January 2005 to April 2023, the study applies advanced econometric techniques, transfer entropy, time-varying Granger causality, wavelet and partial wavelet coherence, to examine dynamic, multi-scale interactions among pandemic uncertainty, tourism performance and currency fluctuations. Findings Results reveal that global pandemic uncertainty significantly and dynamically influences the US tourism performance. Information flows from the WPUI to tourism indicators, helping to reduce sectoral uncertainty and suggesting that global health shocks hold strong predictive power for tourism outcomes across time and frequency domains. Social implications Findings highlight the importance of incorporating pandemic-related uncertainty into tourism forecasting, policy design and crisis preparedness. Strengthening sectoral resilience through diversified tourism strategies, risk monitoring and early-warning systems can help mitigate the adverse effects of future global health shocks. Originality/value This study uniquely applies the WPUI to assess the aggregate impact of global pandemic shocks on the US tourism sector, rather than focusing on individual outbreaks. By integrating transfer entropy, time-varying Granger causality and wavelet-based techniques, it captures nonlinear, dynamic and frequency-dependent interactions often overlooked in existing research. The study advances the understanding of how pandemic uncertainty transmits across tourism and financial channels, offering novel methodological and empirical insights that enhance forecasting accuracy and inform resilience-oriented tourism policy and crisis management strategies.
Purpose This study examines the impact of selected macroeconomic variables, such as fiscal debt, public healthcare expenditure, economic growth (EG) and economic freedom (EF) on private healthcare expenditure and interconnections among these variables in South Asian countries. This study aims to elucidate the mechanisms driving private healthcare expenditure in South Asia.Design/methodology/approach The study employed dynamic econometric methodology, including co-integration tests, non-causality tests, panel ARDL models and static econometric methodology such as random- and fixed-effects ordinary least squares to estimate the impact and interconnections among these variables. The present study utilized panel data for the period 2000-2021 from the World Development Indicators (WDI) and Heritage Foundation.Findings The key findings of this study show that EG positively influences private health expenditure, while EF and government debt negatively affect it, potentially leading to higher household inequality. However, there is a need to increase current health expenditure, as it positively impacts private health expenditure in South Asia.Research limitations/implications The findings of this study have various practical implications, including the adverse effect of EF, which may be due to households' preference for publicly available supply-side healthcare services. The current public health expenditure in South Asia must be increased to ensure that, in the long run, EF positively affects households' access to private healthcare services. Therefore, this study raises concerns regarding the protection of the objectives of universal health coverage (UCH) as outlined in the SDGs.Originality/value This study comprehensively examines the impact of selected macroeconomic variables on private healthcare expenditure. The findings of this study are statistically significant and robust. Consequently, these findings provide policymakers and healthcare administrators with insights to guide innovations that improve access to and affordability of healthcare services in South Asia.
Purpose This study examines the psychological mechanism necessary to convert accounting professionals' human capital (critical thinking skills and emotional intelligence) into perceived accounting education meaningfulness within the context of an emerging economy, China. Specifically, it tests the mediating role of global citizenship orientation and the moderating role of case-based learning intensity. Design/methodology/approach A two-wave, time-lagged quantitative survey design was employed with 452 final-year accounting students across major regions of China. The hypothesized relationships were analyzed using partial least squares structural equation modeling. Findings Results demonstrate that critical thinking skills and emotional intelligence have positive relationships with perceived accounting education meaningfulness. Global citizenship orientation mediates the relationship between critical thinking skills/emotional intelligence and perceived accounting education meaningfulness. Furthermore, the analysis reveals a significant moderated mediation effect, showing that the influence of the case-based learning environment is complex and conditional. Counter-intuitively, the conversion of socio-emotional capital into global citizenship orientation is often stronger in lower-intensity case-based learning environments, prompting a critical re-evaluation of pedagogical design effectiveness. Practical implications For policymakers and curriculum designers in developing nations, the findings underscore the need to move beyond simply mandating case-based learning toward designing scaffolded and optimally intense experiential learning environments. Originality/value The study provides a roadmap for cultivating graduates who possess the professional ethics and global outlook necessary for long-term sustainable growth and ethical practice in emerging financial markets.
