Macro Factors Research Articles

THE CONTEMPORARY HEALTH MANAGEMENT OF COVID-19 PANDEMIC CRISIS: BRIDGING FROM THE PAST TO THE FUTURE

Contemporary management is a current process and updating science by which the manager plans, organizes, leads, and achieves organizational ultimate goals to accomplish hierarchical objectives and outcomes. Contemporary management skills also include overseeing individuals achieve institutional goals and objectives, maintaining power, ensuring discipline, and making sure that the strategy aligns with the company’s vision, mission, and long-term goals. There are many management theories that could be adopted by the managers of organizations and healthcare institutions and can be used as a guideline for successful and effective management styles at their management level. System Management and contingency theory are examples of the theories of contemporary management. COVID-19, for instance, is one of the global emergencies that required all levels of healthcare sector managers to respond appropriately and promptly and to be dynamic in their management style. In the light of the Covid-19 pandemic, this essay will address the management strategy and the macro factors impacting contemporary management, the contemporary management skills and attributes, the management system and change management theory, and the management style and practice, with some management insights and reflections from readings and experiences, conclusions, and recommendations.
 Keywords: Contemporary management, COVID-19, Crisis management, Health management, Resources management.

Unequal growth

Over the past 50 years, households in the United States have experienced changes in earnings dynamics that have resulted in a large increase in inequality. This paper assesses the impact of these changes on aggregate growth and welfare. We begin by inspecting a simple statistical decomposition of aggregate earnings growth using data from the Panel Study of Income Dynamics for the period 1967–2018. The decomposition expresses aggregate earnings growth as the sum of two terms. The first is the covariance between the level and growth of household earnings, which depends only on micro earnings dynamics. The second is the average growth across households, which depends on both micro and macro factors, such as a common labor productivity growth. In order to identify the impact of the changes in the micro dynamics on aggregate outcomes, we map a simple model of micro-founded growth onto the terms of the decomposition. We find that changes in households’ earnings dynamics that are consistent with the micro data imply unequal growth across the earnings distribution that is, a transition period during which there is a change in the shape of the distribution of incomes that is not mean preserving, so that aggregate growth is affected. This change yields a positive effect on aggregate growth and, with incomplete markets, an ex-ante negative welfare effect.

Networking to reduce microbial risk in foods

Networking to reduce microbial risk in foods

The influence of national culture on employee voice in small and medium enterprises: a cross-cultural perspective

PurposeThe purpose of this paper is to examine how employee voice in small and medium enterprises (SMEs) is shaped by national culture. Specifically, the paper explores the relationship between national culture and organisational norms and signals. Furthermore, it explores the impact of such norms on employee voice behaviours. The paper chooses to address these issues in the SME context, in three countries with divergent cultural dimensions.Design/methodology/approachThe authors use Kwon and Farndale’s (2020) typology as our “a priori” framework to explore the influence of national cultural values and cultural tightness on SME organisation norms, signals and employee voice behaviours. Our study uses qualitative data gathered through in-depth interviews with SME employees in England, Nigeria and Thailand.FindingsThe results from our interviews are presented thematically. The data illustrates how the cultural dimensions identified by Kwon and Farndale (2020) can have an influence on organisational voice norms. The dimensions are power distance, uncertainty avoidance, in-group collectivism, performance orientation, assertiveness and cultural tightness.Originality/valueHistorically, the impact of national culture as a macro factor on voice has been largely ignored by academic research. Studies in non-western contexts are especially rare. This paper derives its originality by offering unique insights into the culture–voice relationship from both western and non-western perspectives. This provides an international, cross-cultural, comparative dimension to our study. This research includes findings from under-researched settings in Nigeria and Thailand.

Determination of the most significant medical and social factors regarding disorders of the physical development of school students in the conditions of modern society

ABSTRACT. Physical development is an important criterion for children's health. During the period of children's growth, the action of micro and macro factors of society, which is changing, can have a significant impact on the formation of health and physical development. Therefore, the purpose of the work was to determine the medical and social factors related to violations of the physical development of schoolchildren in the conditions of modern society. Materials and methods. In accordance with the terms of the Declaration of Helsinki, an anonymous survey of students of a general secondary education institution in a large industrial city (376 schoolchildren) was conducted using a specially developed questionnaire that included questions about indicators of physical development (weight and height of the child), daily routine (including determining time spent on gadgets, spending free time), questions related to harmful habits and healthy lifestyle skills of schoolchildren, their physical activity, relationships in the family, as well as issues of self-assessment of one's own health and one's body (physical development). S. Kulbak's method was used to calculate the most significant medical and social factors influencing the formation of physical development. The results. It was established that the majority of schoolchildren had harmonious physical development (44.4% of students), disharmonious physical development was identified in 55.6% of schoolchildren, which was mainly due to body weight disorders (65.6%). The differences between the objective assessment (in accordance with the normative criteria of physical development) and the subjective assessment (by students) of one's own body as a result of physical development have been established. The most adequate to normative indicators is the self-esteem of children with excess body weight, and the most different - among students with low body weight, who in the vast majority of cases, evaluate their own body as "normal" (in 71.8% of cases). According to S. Kulbak's formula, among the calculated factors with the highest diagnostic coefficient of negative impact on physical development are: "material instability" as a reason for not following a healthy lifestyle (DC = - 10.0); lack of communication with parents on issues related to the state of health and the factors that shape it (DC = – 5.0); night sleep less than 6 hours (DC = – 5.0); lack of food in the educational institution during studies (DC = - 4.0); having experience using Vape, JUUL (DC = – 3.0); almost constant (more than 3-5 hours a day) computer use (DC = -5.0). Conclusions. It is advisable to use the identified features regarding the impact of medical and social factors on the physical development of school-age children for the introduction of preventive programs aimed at reducing the impact of negative factors, increasing the educational component of work with parents, as a criterion for early diagnosis of deviations in physical development.

Possible futures of crowd logistics for manufacturers: results of a strategic foresight study

Purpose Although crowd logistics (CL) is a promising digital solution, its future development remains uncertain. This paper aims to suggest multiple possible futures of CL in terms of business relationships and value co-creation between manufacturers and digital platforms. Design/methodology/approach This paper offers a systemic and multistakeholder approach related to the field of strategic foresight, based on the scenario method. The scenarios construction involved 22 participants (practitioners, academic researchers and foresight experts). Findings Four scenarios emerged from the strategic foresight study. For each scenario, the configuration, diffusion and coordination of CL – as well as the balance of power between manufacturers, digital platforms and customers – are specified. Research limitations/implications The foresight analysis reveals not one certain future, but multiple potential business configurations and research avenues related to the development of CL. Practical implications The adopted multistakeholders perspective, including macro factors, regarding CL allows business-to-business (B2B) managers to rethink its potential. Managers can use the scenarios to consider multiple types of coordination with digital platforms and its implication for value co-creation. Social implications This paper provides insights into social changes that may constitute drivers and consequences of the development of CL and identifies two forms of coupling that may drive the development of CL: regulation–social transformation and technology–environment. Originality/value This research contributes to IMP research on B2B relationships in digital contexts, by showing that CL presents an opportunity for the co-creation of distribution value in a B2B environment.

Innovation-Led FDI Sustainability: Clarifying the Nexus between Financial Innovation, Technological Innovation, Environmental Innovation, and FDI in the BRIC Nations

Spatial adequacy and capital formation are impactful macro factors in achieving economic sustainability; therefore, offering a conducive ambiance for foreign investors entices them to the technology and capital mobilization in the host economy. The purpose of the study is to highlight the nexus of the innovation-led FDI in BRIC nations from 1990–2019. The study has implemented several econometric techniques to establish the empirical nexus, including a unit root test with a structural break, a combined cointegration test, an augmented autoregressive distributed lagged, a nonlinear autoregressive distributed lagged and the Fourier Toda–Yamamoto causality test. The structural break test divulged one break year in the data set, and the study incorporated the structural break effects in line with the explained variable. The long run association between the explanatory explained and the control variables has been unveiled with the test statistics of the combined cointegration. Furthermore, the long run cointegration in the empirical equation has been found in the linear and nonlinear assessment. In terms of the symmetric investigation, the coefficient of innovation, that is, TI, FI, and EI on FDI, were revealed to be positive and statistically significant at a 1% level, suggesting the innovation culture boosts the inflows of the FDI in the economy, both in the long run and short run. Furthermore, the asymmetric association has been confirmed by implementing the standard Wald test with the null of symmetry in the long and short runs. Inferring to the asymmetric coefficients, it is apparent that the positive and negative shocks of TI, FI and EI have established a positive tie to FDI, which is significant at a 1% level. According to the elasticities of the asymmetric shocks, the positive innovation disclosed a more prominent impact than the negative innovation on the FDI inflows. Thus this study advocated for ensuring a conducive innovation environment by mobilizing economic resources. Finally, the causality test documented the feedback hypothesis to explain the causal association between technological innovation and FDI and environmental innovation and FDI.

The Lost Decade: Have Macro Factor Risk Premia Become Irrelevant?

The role of factors in macro investing has come into question after mediocre performance during the past decade. In this article, the authors confirm this decline in profitability and examine the importance and relevance of macro factors via three different approaches, analyzing their explaining power for asset risks and cross-sectional return variations. They find no evidence of declining importance over time. They discuss a few possible explanations for the apparently unreliable risk premia associated with these factors in the recent decade.

NARRATIVES AND IDENTITIES: A CRITICAL REVIEW OF EMPIRICAL STUDIES FROM 2004 TO 2022

Amidst the recent surge in English language teacher identity research, this article systematically reviews existing research studies (n=30) conducted on English language teacher identity across English as a foreign language (EFL), English as a second language (ESL), and native English-speaking contexts that employed narrative inquiry as its methodology. Employing Preferred Reporting Items for Systematic Reviews and Meta-Analysis (PRISMA) framework, the systematic review identifies major themes on teacher professional identity classifying articles on three broad stages of professional development from student teachers’ identity negotiation to novice teachers’ identity development and experienced teachers’ and teacher educators’ identity construction. It reveals that English language teachers’ identity is influenced by their practice in learning communities in varying contexts, macro factors like gender, race, ideology and discourse, critical incidents and agency, conflicting emotions, teacher education programs, and imagined identity and investing. In addition, the article offers a critical assessment of narrative inquiry in language teacher identity and gives suggestions for future research. Finally, it proposes a preliminary framework on the trajectory of identity construction and its implications for English language curriculum and teacher development.

Global coronavirus business closures: influences of executive gender, firm characteristics, and government involvement

ABSTRACT This paper uses firm-level data across about 30 nations to study the effect of the coronavirus on firms’ closures, with attention to firms with female managers and female owners. We also consider the influences of firms’ characteristics, the role of the government, economy-wide attributes, and industry type. The estimation uses a logit strategy, with country-year level clustered standard errors reported and industry fixed-effects included. Results show that, with somewhat limited statistical support, firms with female managers were more likely to exit, while those with female owners were less likely to. Further, fertility and gender inequality made firms’ exit more likely. Larger and older firms were less likely to exit. Finally, firms located in urbanized nations and those located in nations with larger governments were more likely to close, while the reverse was true in nations with better governance. We find weak support for the notion that heightened and aggressive government efforts to control the pandemic contributed to business closures. Finally, we find that various firm-level and macro factors impact firms’ exit during the COVID-19 pandemic.

The Determinants Of Capital Structure Of Companies In An Emerging Economy: A Critical Review

Capital structure is one of the important corporate finance decisions. Trade off theory suggests the existence of optimal capital structure at which firm value is maximized. But the optimal capital structure varies with a number of firm characteristics and its business environment. Hence, understanding the determinants of capital structure is important. Researchers have identified number of determinants of capital structure, however the relationship of these determinants with capital structure is found to be varied. It is also evident that companies operating in different economies generally have different capital structure. Hence it is worth exploring the determinants of capital structure for companies operating in a particular economy. Bangladesh is an emerging economy characterized by high GDP growth, rapid infrastructural development, evolving banking sector and capital market growth. In this context, a review of the determinants of capital structure of Bangladeshi companies is worth exploring. This research therefore does a systematic review of the literature on the determinants of capital structure of the companies in Bangladesh. The objective is to summarize the findings of the empirical researches, analyze the findings in light of the existing theories of capital structure, and compare the findings with those of other emerging and developed economies. The findings of the study will be of significant use for practitioners in determining and justifying appropriate capital structure of their companies. The analysis done in this paper also proposes modification of the existing capital structure theories as such to add several macro factors into account. Future researchers may use the findings of this paper as the base line to identify the focus of further research.

Designing a specific competency model for the senior managers of medical sciences universities

Background and aims: Managers play a vital and decisive role at the heart of organizations because they are considered the most important competitive advantage. Therefore, the aim of this study was to design a model for the specific competence model of the top managers of medical science universities in Iran. Methods: This applied, exploratory research was done using qualitative-inductive approach and the Strauss and Corbin basic theory method in the medical sciences universities of Iran from 2019 to 2022. The study population of this grounded theory-based qualitative research consisted of 17 individuals selected from among the chancellors and vice-chancellors of medical universities in Iran using purposive sampling. Results: The findings indicated 19 general categories in a model, including causal conditions (targeted organization, organizational indicators, competence factors, and individual factors), and central phenomenon (specific competence of senior managers). The other categories were underlying conditions (organizational characteristics, environmental field, external macro factors, and components of economic competence), and intervening conditions (personality traits, managerial intelligence, and management of changes and time). The remaining categories encompassed strategies (competence factors, education and talent management, managerial factors, standardization, and organizational factors) and consequences (organizational and national development in the field of health, medicine and welfare, society, and service management). Conclusion: The competencies of managers, as the key human resource, are extremely important for the success of the organization. The findings of this study demonstrated that the specific competencies of senior managers can be used as an indicator.

WHAT ARE THE MACROECONOMIC DRIVERS OF THE ASSET RETURNS OF TURKISH BANKS?

The aim of this paper is to investigate the effects of the macroeconomic factors to the movements of the asset returns of the banks in Turkey in terms of systemic risk from 2005 to 2018. In the study, Independent Component Analysis is applied for extracting driving factors of the asset returns of Turkish banks by decomposing the returns into its components. After examining the relationship between the independent components and the macroeconomic variables, the results conclude that one component shows strong similarities with the well-known stock market index of Turkey, namely the BIST100. Besides, the BIST100 is observed as the most important macroeconomic indicator affecting the movements of the asset returns. From systemic risk perspective, the BIST100 and the exchange rate from US dollar to Turkish lira are interpreted as two macro factors that contribute to the systemic risk of Turkish banks. When it is reviewed the regression results of the estimated independent components with the macroeconomic variables, it is found that while the BIST100 affects the asset returns of Turkish banks on its own, three macroeconomic factors (the credit default swap spreads of Turkey, the exchange rate and volatility) jointly affect the banks by creating a chain effect.

Hedge Fund Strategies Performance in Bad Market Condition Analysis

In this article, the performance of hedge fund strategies is measured and analyzed by the following aspects: potential risk of the strategies excepted return of selected hedge fund and the sample performance in pressured stock market conditions. The study will provide theoretical explanations of the efficacy of Merger Arbitrage, Mutual Fund strategies, and PE ratio-related hedge fund strategies and their profitability as well as risk tolerance. Throughout equity data collection, asset markets including the S&P and NASDAQ have experienced downward pressure on systemic risk caused by inflation combined with quantitative tightening. These Macro factors have significantly contributed to the effectiveness of hedge portfolios; therefore, the article will focus on the performance of hedge fund strategies in the current market and analyze the efficiency of the strategies. According to the real-time hedge strategy trading data obtained from May/21st/2022 to July/01/2022, the Market Mutual strategy, as well as the Merger arbitrage, displayed the risk-averse characteristics of the hedging strategy during the underperforming period. On the other hand, P/E-based trades took on more systematic risk, which generated additional losses than expected.

Can ESG certification help company get out of over-indebtedness? Evidence from China

Using Chinese listed companies from 2007 to 2019 as a sample, we employ a fixed-effect panel model to provide empirical evidence between ESG and company over-indebtedness. The results show that, benefiting from ESG certification, both firms' leverage scale and incidence of over-indebtedness are inhibited. After controlling for potential endogeneity and measurement bias, this finding remains robust. Heterogeneity analysis shows that the positive effect of ESG on company over-indebtedness is affected by both micro and macro factors, showing more significant impact for companies with higher debt levels, non-innovative companies, non-highly polluting companies, and companies in eastern regions. Moreover, mechanism analysis suggests that the driving force behind this phenomenon is that ESG certification effectively relaxes financing constraints and enhances stock liquidity. Moreover, we discuss the economic implications of the positive effect of ESG on company over-indebtedness and find that the resulting moderating effect promotes companies' cross-regional investment and improves investment efficiency. This paper has important practical implications for revealing the value of ESG certification and provides useful insights into ways of getting out of over-indebtedness for companies in emerging market countries.

Vietnam’s exports in the period of 2012-2020: Combining exploratory factor analysis method in regression models for panel data

2020 was a year when international trade activities are not favourable. However, Vietnam still ranked in the group of countries with the highest growth in the world. And prominent in that economic picture is Vietnam’s export activities. Therefore, it is really urgent to find suitable solutions to help export continuously maintain its role as the key engine of growth in the context of increasingly complex disease developments. To assess the impact of the epidemic and some macro factors on export activities, this study used regression models for panel data with latent variables to measure main factors: supply, demand, motivation, and barriers to Vietnam’s export activities in the period 2012-2020 through exploratory factor analysis method. The obtained results have shown the effectiveness of combining the factor analysis method in estimating regression models by the ordinary least square (OLS) method, especially in the context of big data, along with the rapid increase in the dimension of the observed variables.

Research on Factor Identification and Contribution of Bank Nonperforming Loans Based on Lightgbm Algorithm

In recent years, financial risks and crises have occurred frequently, which has had a far-reaching impact on the world economic pattern. Among them, the bank non-performing loan ratio (NPL) is usually used as a barometer of financial risks, which is used to identify the factors of bank non-performing loans. Combined with the current macro and micro economic data in China, this paper selects 17 indicators from four representative commercial banks from 2010 to 2021 as samples and uses the Light Gradient Boosting Machine (LightGBM) algorithm to empirically analyze the influencing factors of commercial banks' non-performing loan ratio, to quantify the sensitivity of each factor to the non-performing loan ratio. The results show that the influence of the bank's internal finance (0.7874) on the bank's non-performing loan ratio is much greater than the bank's external macro factors (0.2126), and the secondary index with the highest weight in the internal finance category is the medium and long-term loan interest rate (0.3029). Banks should pay attention to endogenous variables, especially the changes in medium and long-term indicators, and timely predict and reduce the risks caused by non-performing loans.

The early bird catches the worm: The impact of first‐mover advantage on long‐term elite team sport success

AbstractThe research on success factors in elite sport focuses primarily on the one hand to sport in its entirety and on the other hand to the prediction of success in individual sporting events, especially in soccer. In this paper, we investigate the existence of a first‐mover advantage for national team sports, which has a long‐term impact on a nation's success in a sport. To this end, we hand‐collected data for soccer and rugby and analyzed our sample concerning a first‐mover advantage. To do this, we examined the relationship between the date of establishment of each national sports association and later success as measured by the country's world ranking. We check for the essential macro determinants such as GDP per capita and population. Our study shows empirical evidence that the first‐mover advantage has a stronger effect on the success of a state in a team sport than the macro factors mentioned. In this way, we complement previous research on team sports by considering a hitherto neglected effect, a long‐term perspective and by including rugby.

PENGARUH INFLASI, NILAI TUKAR, VOLUME PERDAGANGAN, DAN ORDER IMBALANCE TERHADAP VOLATILITAS HARGA SAHAM PADA PERUSAHAAN SEKTOR KESEHATAN YANG TERDAFTAR DALAM BEI TAHUN 2021

The health sector during Covid-19 contributed positively to Indonesia's economic growth rate, besides that the health sector also scored a fairly large increase in profits ranging from 13% - 60%. This positive news aroused the interest of investors in the health sector which eventually caused stock price movements in health sector companies to widen. This movement can be influenced by macro factors such as inflation and the rupiah exchange rate, as well as micro factors such as trade volume and order imbalance. The purpose of this study is to find out how the effect of inflation, rupiah exchange rate, trading volume, and order imbalance on the volatility of stock prices of health sector companies listed on the IDX in 2021. The data used in this study is secondary data with panel data regression research methods, which choose a best model first between CEM, REM, and FEM, then running the classical assumption test, after the problem of classical assumption are clear, next running out the hypothesis test. All of these methods use Eviews 12 for students. From the results of the analysis, it was found that Inflation has a negative effect on stock price volatility, the Rupiah Exchange Rate and Trading Volume have a positive influence on stock price volatility, and Order Imbalance does not have a significant effect on stock price volatility in health sector companies listed on the IDX in 2021. The conclusion of this study is that as an investor, especially a short-term investor, you can see the effect of inflation, the rupiah exchange rate, and trading volume to pay attention to stock price movements and can use the volatility of the company's stock price to calculate future profits.

Situation Analysis of Provincial Power Market Based on System Dynamics Simulation

Under the background of carbon peaking and carbon neutrality goals, with the expansion of the scope of power market-oriented reform and the increase in uncertainty of social, political, and economic factors outside the market, the market environment is becoming more and more complex, and it is more difficult to analyze and control the market situation. From a macro perspective, overall modeling for the power transmission link between the generation side and the consumption side of the provincial power market is built, in which a variety of real-time elements or scenarios such as renewable energy power generation growth, carbon emission quota, coal shortage, and dual control system of total energy consumption and energy intensity are considered. The system dynamics tools are used for simulation, and the medium and long-term operation trends of the market are analyzed. In the case studies, the actual situation of the Jiangsu power market is used as background. The trend of the power market situation under the basic scenario is analyzed, and the sensitivity analysis is carried out for three factors: coal supply growth rate, carbon emission caps, and electricity demand growth rate. It is shown that diversified macro factors inside and outside the market will affect the balance of the market operation situation to varying degrees, making the key operation indicators of the market deviate from the existing stable state.