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- Modeling the relationship between economic complexity and environmental degradation: evidence from top seven economic complexity countriesPublication . Moleiro Martins, José; Adebayo, Tomiwa Sunday; Mata, Mário Nuno; Oladipupo, Seun Damola; Adeshola, Ibrahim; Ahmed, Zahoor; Correira, Anabela BatistaThe continuous growth in CO2 emissions of nations around the globe has made achieving the aim of sustainable development extremely challenging. Therefore, the current research assesses the connection between CO2 emissions and economic complexity in the top 7 economic complexity countries while taking into account the role of economic growth, renewable energy consumption, and globalization for the period between 1993 and 2018. The research aims to answer the following questions: 1) What is the association between CO2 and the regressors in the long-run? 2) What are the effects of renewable energy consumption, economic growth, economic complexity, and globalization on CO2 emissions? The research utilized the CS-ARDL, CCEMG and panel causality approaches to investigate these interconnections. The empirical outcomes revealed that economic growth and economic complexity increase CO2 emissions while renewable energy consumption and globalization mitigate CO2 emissions. The outcomes of the causality test revealed a feedback causal connection between economic growth and CO2, while a unidirectional causality was established from economic complexity, globalization and renewable energy consumption to CO2 emissions in the top 7 economic complexity countries.
- A Study on Balanced Scorecard and Its Impact on Sustainable Development of Renewable Energy Organizations; A Mediating Role of Political and Regulatory InstitutionsPublication . Rafiq, Muhammad; Maqbool, Saif; Moleiro Martins, José; Mata, Mário Nuno; Dantas, Rui; Naz, Shumaila; BATISTA, AnabelaOrganizational strategic programs are continuously evolving and gaining the attention of policy makers in order to construct organizations’ ecological and socioeconomic systems. The purpose of this study is to examine the relationship between the balanced scorecard (BSC) and sustainable development involving the mediated effect of political and regulatory influence. To achieve the core objectives of the research, the quantitative (positivism) research method is applied. The goal of the current research is made possible through the quantitative method because of its objective nature of reality. A total of 320 questionnaires were distributed among the different levels of managers; 280 respondents returned the questionnaire. The data are analyzed through a modern statistical tool called Smart-PLS, Partial Least Squares (PLS) is high graphical user interference software that is used to calculate Structural Equation Modeling (SEM) through PLS path modeling. Factor analysis is conducted to eliminate the variables that have no contribution and to reduce the variables to obtain better results in regression. The implications are for energy organizations that are struggling to deal with sustainable development and these tools can help them to achieve their sustainability goals. The study concludes that the adoption of BSC is essential to ensure sustainable development regardless of its challenges. Moreover, consideration of meta-constitutional rules as political influence is important to understand and address in order to mitigate financial loss. In nutshell, the use of BSC is highly recommended to eliminate the routine problems and to ensure environmental sustainability.
- The effect of corporate philanthropy on consumer behavior: open innovation in the operating mechanismPublication . Idrees, Ufera; Aftab, Hira; Qureshi, Hamza Ahmad; Mata, Mário Nuno; Moleiro Martins, José; Mata, Pedro; Martins, Jessica NunesThe aim of this study was to highlight the effect of corporate philanthropy (CP) on consumer patronage behavior. For this purpose, reciprocity was taken as the key mechanism which determines consumers’ willingness to participate in and buy goods or services of a company performing philanthropic activities. The moderating effect of trust and vicarious licensing was also studied. Considering the importance of CP to society and its residents, it is essential to recognize its effect on consumer patronage behavior. To accomplish this objective, data were collected from 340 respondents via a questionnaire. The results of this research revealed that reciprocity shows a statistically significantly positive association with both participation intention (R = 0.729, R2 = 0.531, p = 0.000, b = 0.740) and purchasing intention (R = 0.71, R2 = 0.534, p = 0.000, b = 0.878). Similarly, trust strengthens the relationship of reciprocity with both participation intention (b = 0.250) and purchasing intention (b = 0.310). However, vicarious licensing weakens the relationship of reciprocity with both participation intention (b = −0.175) and purchasing intention (b = −0.187). The mediation effect of participation intention was also examined in this study. The results of this research will contribute to the benefit of society, since philanthropy plays a vital role in society’s progress. The greater response of consumers towards companies performing philanthropic activities justifies the importance of CP.
- Volatility spillover effect of Pan-Asia’s property portfolio marketsPublication . Mata, Mário Nuno; Razali, Muhammad Najib; Bentes, Sonia; Vieira, IsabelThis study assesses the spillover effect of the listed property companies that cover pan-Asian countries, namely Malaysia, Thailand, Indonesia, Singapore, Vietnam, South Korea, Japan, China, the Philippines, and Hong Kong. The impact of market integration will create a spillover effect to the countries’ economic performances, in particular the property market. As macroeconomic factors have high correlation with the performance of property security markets, it is therefore important to study the spillover effect by integrating the macroeconomic factors. This study has employed the exponential generalised autoregressive conditional heteroscedasticity (EGARCH) technique to develop the volatility spillover effect among pan-Asian countries. The results reveal high volatility of listed property companies recorded in Hong Kong and China, while Singapore, The Philippines and Japan have shown low volatility spillovers. In terms of macroeconomic factors, gross domestic product (GDP) and money supply (MS) are the most significant factors in influencing the volatility spillover effect among pan-Asian countries. From the standpoint of regional investors, the volatility spillover characteristics of pan-Asian countries will aid property stakeholders in the region in developing their own methods for making investment decisions in the property security market. Furthermore, in uncertain conditions of the financial market, this study will elevate the transparency of the pan-Asian property portfolio market by providing information on the property market volatility spillovers.
- Linking entrepreneurial orientation with innovation performance in SMEs; the role of organizational commitment and transformational leadership using smart PLS-SEMPublication . Iqbal, Shuja; Moleiro Martins, José; Mata, Mário Nuno; Naz, Shumaila; Akhtar, Shamim; Abreu, AntónioEntrepreneurial orientation has become an enormously significant construct in the innovation studies literature. Predominantly for SMEs, its role has been widely recognized in almost all regional contexts across the globe. The present study is aimed at investigating the effects of entrepreneurial orientation, transformational leadership and organizational commitment on innovation performance. The data for the present study were collected from 1095 employees working at various levels in SMEs. The present study used partial least square structural equation modeling to examine the constructed hypotheses. The findings suggested the significantly positive direct relationships among entrepreneurial orientations, organizational commitment and innovation performance. Besides, organizational commitment positively mediated the relationships between entrepreneurial orientation and innovation performance. Additionally, this study also found the significant moderation of transformational leadership among entrepreneurship orientation and organizational commitment. Leaders of small and medium-sized enterprises should practice entrepreneurial orientation (innovativeness, proactiveness, and risk-taking) and transformation leadership (articulating a compelling vision, focus on goal achievement, and creative problem solving) to enhance the innovation performance of their firms. Moreover, this study provides a robust mechanism for leaders at SMEs to develop strategies for enhancing the willingness of the firms to bring innovation and offer new products and services. The policymakers should enhance the emotional attachment of employees with their firms, sense of moral obligation to remain with the firm which will, in turn, increase the organizational commitment of employees for innovation performance. The study provides empirical evidence to the resource-based view in the context of SMEs. The study delivers solid theoretical and practical implications to experts, leaders and policymakers.
- Impact of Financial Support on Textile Enterprises’ DevelopmentPublication . Бойченко, Катерина; Mata, Mário Nuno; Mata, Pedro; Martins, Jessica NunesThe purpose of this study is to determine the mutual influence of financial security on the textile enterprises development level. The proposed methodological approach is based on the formation of an integrated financial security indicator and its regression model. The study is based on 16 textile enterprises in the European Union. Integral indicators on capital structure, current financing sufficiency and financial efficiency of the investigated enterprises have been defined according to the rapid diagnostics of financial provision of the textile enterprises. The state of financial support for the studied companies’ development has been evaluated. It has been established that the development of textile enterprises depends to a large extent on their financial support as a whole. The change in the development level of companies depends substantially on the change in the integrated indicator of their financial provision. In particular, textile enterprises’ development is significantly affected by the capital structure and the predominance of equity in it, as well as current financing. The financial efficiency factors taken into account do not have a significant impact on the development of textile enterprises. This study proposes a financial security model, developed by partial integrated indicators. It enables visual comparison, collation of the capital structure state, current financing and financial efficiency of the studied enterprises with optimal value
- Comparison of static models in optimization of the determinants of the Portuguese SME capital structurePublication . Lourenco, Antonio; Mata, Mário Nuno; Arsénio, TiagoPurpose: This research aims to study the determinants of Portuguese companies’ capital structure. These results can be useful: 1) as guidelines for capital structure optimization and 2) as a support for efficient decisions in what concerns to capital structure. The literature shows that classical determinants of capital structure present statistical significance and pursue the expected sign for different econometric models tested. Method: The study follows a quantitative design research, with data collected in Amadeus from 500 SME`S in Portugal. The data spans from 2009 to 2018 totaling 4500 observations. We consider three dependent variables, i.e., total, medium and long term and short-term debt. In addition, we also employ seven independent variables (dimension; growth; liquidity; profitability; tangibility; profitability and business risk and singularity). We used a panel data approach based on fixed effects (FE) and of random effects models (RE). Findings: We found that there is no significant divergence of the experimental results obtained in the OLS model, with the fixed effects model and the random effects model, and the expected signals for some independent variables are generally the hypotheses formulated. If we compared both econometric models, it is verified that regardless of the model used, or of the dependent variable analyzed, some of the independent variables are statistically significant in all analyzed models. Furthermore, we also found evidence that the same expected signals are in agreement with the standard financial theory. These empirical findings may suggest good indicators for making more efficient decisions about the determinants of the capital structure. Research limitations/implications: The main contribution of this work is mainly in which econometric models had best results (according to existing theories) to analyse capital structures of companies. We found that the econometric model chosen for the analysis of the variables must be analysed insofar as some of the independent variables are sensitive to the expected signal and statistical significance, depending on the selected model. Practical implications: These findings will be very useful to top managers in the process of deciding the optimal structure of capital without neglecting the long run financial sustainability of the companies. Originality/value: This study is different because go beyond the classical capital structure determinants and also shows a comparison between different econometric models.
- Exploring the relationship between communication and success of construction projects: the mediating role of conflictPublication . Malik, Summaira; Taqi, Muhammad; Moleiro Martins, José; Mata, Mário Nuno; Pereira, J.M; Abreu, AntónioThe success of a construction project is a widely discussed topic, even today, and there exists a difference of opinion. The impact of communication and conflict on project success is an important, but least addressed, issue in literature, especially in the case of underdeveloped countries. Miscommunication and conflict not only hinder the success of a project but also may lead to conflicts. The focus of this paper was to examine the impact of communication on project success with the mediating role of conflict. By using SPSS, demographics, descriptive statistics and correlation were determined. Smart PLS version 3.0 was used for confirmatory factor analysis (CFA), internal accuracy and validity estimates, hypothesis checking and mediation testing. The results showed that formal communication has a negative impact on the success of a construction project, resulting in conflicts among project team members, whereas informal communication and communication willingness have a positive impact on project success because people tend to know each other, and trust is developed. Task, process and relationship conflicts were used as mediating variables. It was found that task conflict effects the relations positively because project team members suggest different ways to do a certain task, and, hence, project success is achieved. On the contrary, process conflict and relationship conflict have a negative impact on communication and project success. Both of these conflicts lead to miscommunication, and project success is compromised. Hence, it is the responsibility of the project manager to enhance communication among project team members and to reduce the detrimental effects of process and relationship conflict on project success.
- Alignment of Islamic Banking Sustainability Indicators with Sustainable Development Goals: Policy Recommendations for Addressing the COVID-19 PandemicPublication . Jan, Amin; Mata, Mário Nuno; Albinsson, Pia; Moleiro Martins, José; Hassan, Rusni BtThis study aims to establish the link of key Islamic banking sustainability indicators with the United Nations’ Sustainable Development Goals (UN SDGs) as a policy recommendation for sustainable development and to mitigate the distressing impacts of the COVID-19 pandemic on the triple bottom line (people, planet, and profit). To identify the key Islamic banking sustainability indicators, the authors selected the most cited sustainability measurement indexes in Islamic banking. Initially, the indexes were divided into 10 broader themes, and then the key Islamic banking sustainability indicators were shortlisted from each theme based on their high-frequency distribution. The shortlisted sustainability indicators were then ratified to be in line with Islamic philosophy based on “Maqasid al-Shariah” (objectives of Shariah) and were subsequently grouped into the three dimensions of economic, environmental, and social sustainability based on the axial coding method. Finally, the categorized sustainability indicators were aligned with the relevant UN SDGs through the axial coding method for policy formulation, and respectively 12 propositions were developed for policy formulation. This study labeled the methodological process of this study as the ECA method (exploration, categorization, alignment). The new ECA method offers a reverse extension in the “SDG compass” developed by the Global Reporting Initiative (GRI) for aligning business policies with the UN SDGs. The process of aligning Islamic banking sustainability indicators with the UN SDGs will provide a roadmap to recovery from the COVID-19 pandemic in terms of economic, environmental, and social issues. Due to the diversity of the UN SDG framework, it covers multiples aspects for sustainable development. Therefore, considering the UN SDGs in terms of various banking instruments will mitigate the multiple distressing impacts of COVID-19 on the triple bottom line (people, planet, and profit), it will also promote a sustainable development agenda.
- The role of self-esteem, optimism, deliberative thinking and self-control in shaping the financial behavior and financial well-being of young adultsPublication . Hashmi, Fatima; Aftab, Hira; Moleiro Martins, José; Mata, Mário Nuno; Qureshi, Hamza Ahmad; Abreu, António; Mata, PedroThe sustainable financial behavior and financial well-being have been a key concern among the developing societies; thereby encompassing the various psychological factors which play a role in influencing individual’s positive financial behavior and financial well-being, this study is conducted. Research focusing on the psychological aspect of human financial behavior and well-being is scarce, focusing more on the cognitive side such as financial literacy and numeracy. The aim of this research study is to find the role played by the non-cognitive factors such as self-esteem, self-control, optimism and deliberative thinking, in forming the financial behavior and financial well-being of the young adults. A sample of 429 university students from public and private sector was collected via an online and field survey using purposive sampling technique. The survey contained measures for demographics, self-esteem, optimism, deliberative thinking, self-control, general financial behavior and financial well-being. SPSS and PLS-SEM tools were used for the exploration of the relationships among dependent and independent variables. The results of PLS path analysis demonstrate that among the non-cognitive factors, self-control and deliberative thinking show a significant association with both financial behavior, and financial security. Self-esteem plays no significant role in forming the financial behavior of the young adults when all the variables are taken together but it exhibits a significant association with financial well-being (financial security and financial anxiety). Optimism on the other hand exhibits no significant association with both financial behavior and financial well-being (financial security and financial anxiety). The results of this study complement the previous studies and also put forth new outcomes. This research is unique as it is the first of its kind conducted in a consumption-oriented economy like Pakistan. In addition to the previous studies which have often established the link of self-esteem with general well-being, this study goes further by analyzing the association between self-esteem and financial well-being and by the identification of the role played by non-cognitive factors like self-esteem, optimism, deliberative thinking and self-control together on the financial behavior and financial well-being of the individuals using PLS-SEM approach.