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Is Corporate Social Responsibility a Catalyst in Distressed Mergers and Acquisitions? The Indian Evidence

Posted on Tuesday April 23rd, 2024Wednesday April 24th, 2024 by editor

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Is Corporate Social Responsibility a Catalyst in Distressed Mergers and Acquisitions? The Indian Evidence
Author(s):	Sulagna Bhattacharya, Kavita Wadhwa
Volume:	15
Number:	2
Year:	2024
Page:	83-100
ISSN:	2619-9491
DOI Number:	10.20409/berj.2024.437

Abstract

Our study examines the role of corporate social responsibility (CSR) in mergers and acquisitions (M&A) decisions and processes when target firms are financially distressed. We focus on the M&A market in India, where CSR spending is mandatory for firms. We examine three research questions focusing on whether CSR spending and compliance by distressed targets facilitate (i) deal completion likelihood, (ii) acquisition percentage, and (iii) deal completion time. We consider firms’ overall CSR spending, voluntary CSR spending (the portion of overall CSR spending above their prescribed amount), and individual CSR dimensions. Using 375 Indian distressed M&As during 2015-2020, we find that distressed targets are more attractive target choices if they spend more on overall CSR and less on social CSR. Greater acquirer-target CSR similarity favorably impacts deal completion for distressed targets. Secondly, the acquisition percentage is lower when the acquirer and the distressed targets spend more on CSR overall. Lastly, high voluntary CSR spending by the distressed target slows down deal completion, confirming the CSR overinvestment theory. Our results establish the importance of CSR spending, compliance, and individual CSR dimensions on target choice and deal characteristics.

Keywords:

Corporate Social Responsibility, Mergers and Acquisitions, Distressed M&A, Mandatory CSR, Financial Distress

JEL Classification:

G33, G34, M14, M48

Full Text ( ↓ 735)

Comparative Analysis of the MCDM Methods with Multiple Normalization Techniques: Three Hybrid Models Combine MPSI with DNMARCOS, AROMAN, and MACONT Methods

Posted on Wednesday February 21st, 2024Wednesday April 24th, 2024 by editor

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Comparative Analysis of the MCDM Methods with Multiple Normalization Techniques: Three Hybrid Models Combine MPSI with DNMARCOS, AROMAN, and MACONT Methods
Author(s):	Pembe Güçlü
Volume:	15
Number:	2
Year:	2024
Page:	129-154
ISSN:	2619-9491
DOI Number:	10.20409/berj.2024.436

Abstract

Several multi-criteria decision-making methods have been developed to solve complex decision problems encountered in business and daily life. These methods offer a systematic approach to evaluating multiple decision alternatives and conflicting criteria. The normalization stage in the multi-criteria decision-making process is important in evaluating the contribution of criteria or alternatives to the process in a fair, consistent, comparable, and objective way. Various methods employ one or more normalization techniques, and the combined use of multiple normalization techniques allows for a comprehensive analysis. In this study, Double Normalized Measurement of Alternatives and Ranking According to COmpromise Solution (DNMARCOS), Alternative Ranking Order Method Accounting for Two Step Normalization (AROMAN), and Mixed Aggregation by Comprehensive Normalization Technique (MACONT) methods used multiple normalization techniques are compared and evaluated for a robot vacuum cleaner selection problem. The relations of the ranking results were evaluated by correlation analysis. The performance comparisons of the methods were made in terms of the final scores’ standard deviations and the methods’ computational complexity. The findings indicate that DNMARCOS has the best performance among the three methods and MACONT has the lowest performance.

Keywords:

Multi-criteria Decision Making, Normalization Techniques, MPSI, DNMARCOS, AROMAN, MACONT

JEL Classification:

C44, D81

Full Text ( ↓ 595)

Bibliometric Analysis of Publications on Remote Working

Posted on Monday January 29th, 2024Tuesday January 30th, 2024 by editor

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Bibliometric Analysis of Publications on Remote Working
Author(s):	Selver Yıldız Bağdoğan, Esra Özdemir
Volume:	15
Number:	1
Year:	2024
Page:	67-82
ISSN:	2619-9491
DOI Number:	10.20409/berj.2024.435

Abstract

Remote working is an important concept rapidly gaining popularity among today’s working styles, making it possible to work from almost anywhere. Remote working has become the “new normal” with the 2020 pandemic and quarantine processes, and the spread of the internet and technological tools in workplaces has been very effective at this point. The spread of remote working has brought different perspectives on the subject and brought the need to examine emerging problems in detail to the agenda of academic studies. In this context, the study aims to examine the publications on “remote work” to understand the transformation of the field. In order to carry out a detailed examination, the keywords “remote work” and “remote working” were extracted from the Web of Science (WoS) database based on bibliometric and network analysis techniques. As a result of the scanning, a total of 960 studies published between 1982 and 2023 were reached, and various analyses were carried out. The obtained data were visualized with VOSviewer and R programs, which are analysis and visual mapping programs. By examining 960 studies with bibliometric analysis, a pioneer in remote working researchers and countries could be identified. By examining 960 studies with bibliometric analysis, researchers and countries that were pioneers in the concept of remote working were determined, and it was seen that the studies showed diversity and interaction. Finally, it is thought that the gaps in the field will be determined with the data and findings obtained and will guide other researchers.

Keywords:

Remote Work, Working Life, Flexibility, Bibliometry, VOSviewer

JEL Classification:

M10, M54, O33

Full Text ( ↓ 927)

The Impact of Hopelessness on Perceived Organizational Performance: The Mediating Role of Emotion Regulation

Posted on Monday January 29th, 2024Tuesday January 30th, 2024 by editor

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Impact of Hopelessness on Perceived Organizational Performance: The Mediating Role of Emotion Regulation
Author(s):	A. Rahim Emhan, Amanda M. Main, Etka Topaloglu, Sinem Guravsar Gokce, Yasin Bez
Volume:	15
Number:	1
Year:	2024
Page:	51-65
ISSN:	2619-9491
DOI Number:	10.20409/berj.2024.434

Abstract

The purpose of this study is to determine whether there is a relationship between hopelessness and organizational performance; and if so, to evaluate the mediating effect of emotion regulation on this relationship. To test this model, hopelessness, organizational performance, and emotion regulation was measured in employees working in the banking sector. In total, 221 employees completed this study and to test research hypothesis structural equation modeling was used. The current study demonstrated that hopelessness has a significant negative relationship with both emotion regulation and organizational performance. It was also found that emotion regulation has a mediating effect on this relationship where higher emotion regulation decreases its strength. Additionally, t-test and ANOVA analyzes were used to reveal differences between demographic variables and study variables. Efforts of employees to develop their emotion regulation abilities in a variety of situations may play an important role in reducing the negative effects of hopelessness and develop the performance of individuals. The current study presents new insights on the mediating effects of emotion regulation on the relationship between hopelessness and individual perceptions of organizational performance.

Keywords:

Emotion Regulation, Hopelessness, Organizational Performance, Structural Equation Modeling

JEL Classification:

M10, M12, E71

Full Text ( ↓ 774)

Analyzing Profitability Performance with the Integrated MEREC-COBRA Method: The Case of BIST Retail Companies

Posted on Monday January 29th, 2024Tuesday January 30th, 2024 by editor

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Analyzing Profitability Performance with the Integrated MEREC-COBRA Method: The Case of BIST Retail Companies
Author(s):	Alparslan Oğuz, Haluk Satır
Volume:	15
Number:	1
Year:	2024
Page:	33-50
ISSN:	2619-9491
DOI Number:	10.20409/berj.2024.433

Abstract

The purpose of this study is to evaluate the financial performance of retail trade enterprises whose shares are traded on Borsa Istanbul by using profitability ratios. Within the scope of the study, the data of ten retail trade enterprises covering the period 2021-2022 were used. The weight of the performance criteria used in the study was determined by the MEREC method. COBRA method was used to determine the performance ranking among the firms. A two-stage sensitivity analysis was conducted to determine the consistency of the analysis results. In the first stage, seven different multi-criteria decision-making methods were used to rank the firms according to their performance. The consistency between the results of the study and the results of other methods was determined by Spearman correlation coefficients. In the second stage, scenarios with different criteria weights were tested. Sensitivity analysis showed that the results were stable and consistent. According to the results of the study, MIPAZ ranked first in profitability performance for both years.

Keywords:

Financial Performance, Profitability Ratios, Retail Firms, MEREC, COBRA

JEL Classification:

M10, M21

Full Text ( ↓ 811)

Long-term Bank Financing of Productive Investments and Economic Growth in French-speaking African Countries

Posted on Monday January 29th, 2024Tuesday January 30th, 2024 by editor

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Long-term Bank Financing of Productive Investments and Economic Growth in French-speaking African Countries
Author(s):	Dongho Wamba Tejio Willi Verlaine, Dinah Gembom Phungeh, Takoulac Kamta Marcel
Volume:	15
Number:	1
Year:	2024
Page:	19-32
ISSN:	2619-9491
DOI Number:	10.20409/berj.2024.432

Abstract

This study focuses on the influence of long-term bank financing of investments on economic growth in French-speaking African countries over the period 2004-2022. The empirical evaluation of this link is made through a dynamic panel model and the generalized method of moments. The results indicate that long-term bank financing expressed as a percentage of the total credit offered has a positive and significant impact on economic growth in these countries. In addition, gross domestic savings positively and significantly affect economic growth. It seems essential that the public and monetary authorities implement incentive measures to encourage the more significant collection of savings and encourage banks to boost the supply of long-term loans by the more significant transformation of maturities.

Keywords:

Long-Term Bank Financing, Productive Investment, Economic Growth, Generalized Method of Moments (GMM)

JEL Classification:

G21, O47, C51

Full Text ( ↓ 803)

Economic Cycles and Employment Growth in the WAEMU Zone: An Analysis Using a Non-Linear ARDL Panel Model

Posted on Monday January 29th, 2024Tuesday January 30th, 2024 by editor

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Economic Cycles and Employment Growth in the WAEMU Zone: An Analysis Using a Non-Linear ARDL Panel Model
Author(s):	Vassy Pierre Sangare, Wadjamsse Baudelaire Djezou, Caroline Ble
Volume:	15
Number:	1
Year:	2024
Page:	1-18
ISSN:	2619-9491
DOI Number:	10.20409/berj.2024.431

Abstract

The West African Economic and Monetary Union (WAEMU) is facing frequent and diverse crises that are affecting economic stability and employment opportunities in the region. It is important to analyze the impact of economic cycles on employment, as the response of employment supply differs during economic growth and contraction. This article uses a lagged non-linear auto-regressive model (NARDL) on panel data from 1990 to 2022, along with various filters, to examine the relationship between employment and business cycles. The study found that there is an asymmetric relationship between economic growth and employment, with the impact of economic recessions being stronger on long-term employment than on short-term employment. The study suggests that countries have not fully utilized their economic potential to benefit employment. To achieve sustainable economic growth and reduce the proliferation of the informal sector, economies should focus their efforts on translating their potential into action.

Keywords:

Economic Cycles, Economic Growth, Employment, NARDL Model, WAEMU

JEL Classification:

C23, E24, J21, O55

Full Text ( ↓ 872)

Creative Message Strategies Used in the Digital Advertisements: A Content Analysis in the Context of the Six-Segment Message Strategy Wheel

Posted on Monday October 16th, 2023Tuesday October 17th, 2023 by editor

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Creative Message Strategies Used in the Digital Advertisements: A Content Analysis in the Context of the Six-Segment Message Strategy Wheel
Author(s):	Selin Köksal Araç
Volume:	14
Number:	4
Year:	2023
Page:	541-556
ISSN:	2619-9491
DOI Number:	10.20409/berj.2023.430

Abstract

The most popular advertisements listed on YouTube Ads Leaderboard Turkey between 2017 and 2022 were examined through content analysis in this study. Advertising contents that attract the most attention by consumers were analyzed based on the “six-segment message strategy wheel”. The digital advertisements were examined within the framework of informative message strategies that are (1) rational, (2) acute, (3) routine and within the framework of transformational message strategies that are (4) sensory, (5) social, and (6) ego. Research findings show that rational, social, sensory, and ego sub-strategies are mainly used in most popular digital advertisements and brands give weight to the transformational strategy as the main creative message strategy. One of the most distinctive features of the most watched digital advertisements is the effective use of music. Rhythmic elements that are compatible with the creative message strategy and that attract the attention of the target audience come to the fore in popular digital advertisements. Research findings are important in terms of defining the basic features of changing advertising and determining the trends in digital advertisements that consumers are most interested in.

Keywords:

Digital Advertisement, YouTube Ads, Six Segment Message Strategy Wheel, Creative Message Strategy, Content Analysis

JEL Classification:

M31, M37

Full Text ( ↓ 1007)

Moderating Effect of Flexible Work Arrangements on The Relationship Between Self-Efficacy and Innovative Work Behavior: Evidence from The Logistic Sector

Posted on Monday October 16th, 2023Tuesday October 17th, 2023 by editor

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Moderating Effect of Flexible Work Arrangements on The Relationship Between Self-Efficacy and Innovative Work Behavior: Evidence from The Logistic Sector
Author(s):	Handan Akkaş
Volume:	14
Number:	4
Year:	2023
Page:	525-540
ISSN:	2619-9491
DOI Number:	10.20409/berj.2023.429

Abstract

This study examines the moderating effect of flexible work arrangements on the relationship between self-efficacy and innovative work behavior. Data were collected from 202 logistics employees working in Ankara, Türkiye. SPSS process macro plugin was used to test the moderation effect. The theoretical basis of the study was analyzed within the framework of Conservation of Resources (Hobfoll, 1989), Social Cognition Theory (Bandura, 1986), and Job-Demand Resources models (Bakker & Demerouti, 2007). Within the scope of the study, the perception of flexible working was examined in two sub-dimensions as time and structure flexibility perception. The results revealed that an increase in both structure and time flexibility perception dimensions increased the strength of the relationship between self-efficacy and innovative work behavior. The study is important because it is one of the few studies that examine logistics employees despite their significant contribution to the global economy. Understanding the behaviors of sector employees is of great importance in terms of optimizing operational efficiency and improving overall performance in the sector.

Keywords:

Flexible Work Arrangements, Innovative Work Behavior, Self-Efficacy

JEL Classification:

M10, L20, J24

Full Text ( ↓ 1173)

3D Printer Technology Selection in Rapid Prototyping: A Spherical Fuzzy AHP Approach

Posted on Monday October 16th, 2023Tuesday October 17th, 2023 by editor

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	3D Printer Technology Selection in Rapid Prototyping: A Spherical Fuzzy AHP Approach
Author(s):	Damla Çevik Aka
Volume:	14
Number:	4
Year:	2023
Page:	503-523
ISSN:	2619-9491
DOI Number:	10.20409/berj.2023.428

Abstract

The aim of this study is to make the best technology decision for an enterprise in the automotive sector that plans to purchase a 3D printer for the purpose of obtaining rapid product prototypes. The study includes seven criteria as accuracy, complex design, surface quality, ease of use, throughput, material cost, and equipment cost, and three alternative technologies as fused deposition modeling (FDM), selective laser sintering (SLS), and stereolithography (SLA). The weighting of the criteria has been carried out by three experts in the product development department, and the evaluation of alternatives has been carried out by a team of 3D printer manufacturers. The spherical fuzzy analytic hierarchy process (SF-AHP) method is applied in the study. It’s considered important for making the right technology decision in product development processes since this study seeks a solution to a real problem. As a result of the study, while the accuracy criterion is the highest priority, the ease of use of the selected printer is the least priority criterion. On the other hand, SLA 3D printer technology has been seen as the most ideal technology in terms of many criteria for prototyping automotive plastic material parts.

Keywords:

3D Printer, Additive Manufacturing, Rapid Prototyping, Product Prototyping, Spherical Fuzzy AHP

JEL Classification:

L62, M11, O32

Full Text ( ↓ 1018)