Indulgence and risk-taking behavior of firms: Direct and interactive influences

Alipour, Abbas; Yaprak, Attila

doi:10.1016/j.intman.2022.100945

Cited by 12 publications

(4 citation statements)

References 75 publications

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“…Moreover, DIF can help banks integrate the information of the whole market and the supply chain of credit targeting SMEs by using digital technology that obviously enhances the information-acquisition ability of SMEs on the consideration of loan security. Prior studies have shown that the risk-taking ability of SMEs is positively correlated with the probability and sales growth of SMEs [48], and all these factors are conducive to the intermediation of risk-taking ability between DIF and financial performance. To construct such an intermediating role, we construct another simultaneous equation model group to conduct the empirical test.…”

Section: Risk-taking Abilitymentioning

confidence: 98%

Can Digital Inclusive Finance Improve the Financial Performance of SMEs?

Huang

Kong

et al. 2023

Sustainability

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Our paper takes the sample of listed companies from Shanghai and Shenzhen A-share SMEs and then theoretically analyzes and empirically tests the impact of digital inclusive finance on the financial performance of SMEs. The results show that financial performance of SMEs located in areas with a higher level of digital inclusive finance is significantly higher. Digital inclusive finance can play a role in expanding the scale of innovative investment, reducing the cost of debt financing and improving the ability of risk-taking, thereby strengthening the financial performance of SMEs. Our findings enrich the academic research on the topic of digital inclusive finance from the perspective of SMEs and provide suggestions to the government, banks and SMEs to continually implement the digital inclusive finance policy.

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Section: Risk-taking Abilitymentioning

confidence: 98%

Can Digital Inclusive Finance Improve the Financial Performance of SMEs?

Huang

Kong

et al. 2023

Sustainability

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“…However, on the other side, students who come from indulgent societies are more likely to believe that they can achieve their goals and pursue their passions, which can increase their sense of self-efficacy. Additionally, indulgent societies tend to be more tolerant of failure and encourage risk-taking ( Alipour and Yaprak, 2022 ). When students are not afraid to make mistakes and take on challenges, they are more likely to develop a sense of competence and confidence in their abilities.…”

Section: Discussionmentioning

confidence: 99%

What cultural values determine student self-efficacy? An empirical study for 42 countries and economies

Jin

Xia

et al. 2023

Front. Psychol.

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Self-efficacy is a vital personal characteristic for student success. However, the challenge of cross-cultural comparisons remains as scalar invariance is hard to be satisfied. Also, it is unclear how to contextually understand student self-efficacy in light of cultural values in different countries. This study implements a novel alignment optimization method to rank the latent means of student self-efficacy of 308,849 students in 11,574 schools across 42 countries and economies that participated in the 2018 Program in International Student Assessment. We then used classification and regression trees to classified countries with differential latent means of student self-efficacy into groups according to Hofstede’s six cultural dimensions theory. The results of the alignment method recovered that Albania, Colombia, and Peru had students with the highest mean self-efficacy, while Slovak Republic, Moscow Region (RUS), and Lebanon had the lowest. Moreover, the CART analysis indicated a low student self-efficacy for countries presenting three features: (1) extremely high power distance; (2) restraint; and (3) collectivism. These findings theoretically highlighted the significance of cultural values in shaping student self-efficacy across countries and practically provided concrete suggestions to educators on which countries to emulate such that student self-efficacy could be promoted and informed educators in secondary education institutes on the international expansion of academic exchanges.

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“…Saravia et al (2021) suggest that firms with higher growth options have higher systematic risk. Firms with higher growth opportunities are more motivated to take risks, especially in countries that do not have strict regulations (Alipour and Yaprak, 2022).…”

Section: Multivariate Analysismentioning

confidence: 99%

Board diversity and systematic risk: evidence from emerging markets

Daniel‐Vasconcelos

Crisóstomo

Ribeiro

2023

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Purpose This study aims to investigate the association between board diversity and systematic risk. The theoretical framework used in this study is based on agency and resource dependency theories.Design/methodology/approach Using a panel data set of 788 firms listed in the Morgan Stanley Capital International (MSCI) Emerging Markets index from 2015 to 2020, the authors apply Panel-Corrected Standard Error estimation method to test the three proposed hypotheses and the two-stage least squares method is adopted for the endogenous test.Findings The results suggest that board-specific skills diversity (BSSD) and board independence (BIND) have a negative impact on systematic risk. On the other hand, board gender diversity does not affect systematic risk. The findings reinforce the relevance of board diversity for reducing systematic risk and offer valuable insights for policymakers and investors, suggesting that the presence of directors with specific skills and independent directors could reduce firms’ systematic risk.Research limitations/implications The study extends the scope of agency and resource dependency theories by suggesting that the BSSD and BIND reduce agency costs and bring critical resources to the firm’s survival.Practical implications The findings support policymakers and managers in reducing systematic risk. In addition, the results demonstrate the importance of policies that encourage board diversity and BIND.Social implications The study demonstrates how companies can reduce systematic risk through board diversity and BIND.Originality/value To the best of our knowledge, this is the first study to investigate the association between board diversity and systematic risk only in emerging markets.

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Indulgence and risk-taking behavior of firms: Direct and interactive influences

Cited by 12 publications

References 75 publications

Can Digital Inclusive Finance Improve the Financial Performance of SMEs?

Can Digital Inclusive Finance Improve the Financial Performance of SMEs?

What cultural values determine student self-efficacy? An empirical study for 42 countries and economies

Board diversity and systematic risk: evidence from emerging markets

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