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  • Universities preparing students for future challenges of family business enterprises
  • Exploring the impact of various typologies of human capital on firms' productivity

    Purpose: Although the impact of human capital on productivity has long been discussed in prior studies, empirical evidence for African firms remains limited. The existing few studies have focussed on one type of human capital in isolation and failed to explore the distinct role of different types of human capital on productivity. The aim of this study is to examine the extent to which various typologies of human capital – schooling, on-the-job training (OJT) and slack time –, both in isolation and as a combination, contribute to the productivity of African firms. Design/methodology/approach: To this end, a cross-sectional firm-level data set from 13 African countries was used. To unravel the casual relationship, propensity score matching (PSM) and multinomial endogenous switching treatment regression (MESTR) techniques were employed. Findings: Results indicate that all typologies of human capital – schooling, slack time and OJT – have a significant and positive impact on firms' productivity. The findings of the study further point out that the highest payoff, in terms of increased productivity, is achieved when various typologies of human capital are used in combination, rather than in isolation, in the production process. Practical implications: The policy implications are that productivity of African firms can be improved by increasing the general level of schooling; encouraging firm-sponsored OJT; and giving employees time to develop new ideas. Originality/value: The present study provides important insights into the distinct role of different types of human capital on productivity. In addition, it provides empirical evidence for a region where empirical evidence is scant.

  • “Investigating the factors affecting brain drain in Greece: looking beyond the obvious”

    Purpose: The study explores the reasons why talented people leave Greece and go abroad using a qualitative approach to data collection in order to get a deep understanding on the actual reasons of brain drain in Greece, which affects the sustainability of domestic businesses and the overall economic development of the country. Design/methodology/approach: A qualitative approach was adopted consisting of 80 interviews with business and IT professionals, healthcare professionals and academics of various disciplines that live and work in the United Kingdom, Germany, United States and Australia. Data were collected over a three-year period (May 2015–May 2018). Findings: The results showed that the vast majority of respondents decided to leave their home country due to the prevalent cultural mindset of most Greek citizens, government policymakers and employers in Greece. In particular, 65% of respondents decided to live and work abroad due to the deep crisis of social values in the country and the high political corruption, while just 35% pointed to purely financial and other work-related reasons (e.g. low salaries, poor working conditions, no employment prospects, lack of job security) as the key ones for leaving the country. Essentially, the respondents argued that the individualist cultural values that have been predominant in the Greek society for years now have become evident in political action causing several problems such as social injustice and poverty. Research limitations/implications: The findings have important implications both for those who hold governmental posts and the remaining citizens of Greece. Both government officials and citizens should re-examine their roles, values and ideals. The blame for the extensive brain drain in the country cannot be put only on the political parties that ruled the country during the last decades; the people who elected them are also responsible. The country seems to remain trapped in a crisis of social values that parents and the formal education system in Greece have cultivated for years now. In that respect, formal education in the country should be transformed radically in order to act as an important agency inculcating the new generations with a sense of duty in shaping a democratic political culture that emphasizes equality and condemns egalitarian practices. Originality/value: The scant evidence around this topic is based on quantitative research that fails to explore in much depth the reasons of brain drain in the country. Previous studies revealed that the phenomenon of brain drain in Greece has been predominantly caused by the poor financial performance of the country during the last decade. This has been further supported by the claims of several policymakers who argue that the Greek crisis has been a fiscal one. However, the present study sheds new light and unmasks the root cause of brain drain in Greece stressing that the country essentially faces a crisis of values and a corrupted civic culture.

  • Appraisal of government funding schemes on the development of small and medium enterprises in Nigeria: a study of Enugu state

    Purpose: This paper aims to examine the effectiveness of government funding schemes for small and medium enterprises (SMEs) in Nigeria. Design/methodology/approach: The survey method of inquiry was adopted, wherein a structured questionnaire was used to generate data. Using Guilford and Flruchter (1973) formula, a sample size of 276 was derived from a population of 890 registered SMEs. Data analysis was conducted using SPSS version 20.0 tools. Findings: The results of the analysis reveal that a significant number of SMEs were aware of government funding schemes, but insignificant number succeeded in accessing the funds. It further reveals that the nature and conditionality of the funds and management capacity of SMEs were major hindrances to the effectiveness of the funding schemes. Originality/value: The inquiry is completely original and has the potency of influencing policy formulation and implementation in the area of industrial funding.

  • Predicting entrepreneurial intention among business students of public sector universities of Pakistan: an application of the entrepreneurial event model

    Purpose: This paper tries to examine the entrepreneurial intention of business students of public sector universities of Pakistan through the entrepreneurial event model (EEM). Design/methodology/approach: The study is a quantitative study and is based on cross-sectional data. The data is collected through a survey questionnaire. The random sample technique is used for data collection. The respondents are the business students of different public sector universities of Pakistan. In total 310 valid samples are utilized for final analysis. Findings: By employing to SEM through Analysis of Moment Structure (AMOS) version 26.0, the overall findings show a positive and significant impact of perceived feasibility (PF), perceived desirability (PD) and self-efficacy on entrepreneurial intention (EI). Practical implications: The outcomes of the study may be helpful for policymakers to formulate the policies regarding the promotion of entrepreneurship and self-employment for reducing the burden of unemployment. Possibly, it may prove as an appliance for prosperity and income generation through boosting entrepreneurship. Moreover, it may contribute to the literature of entrepreneurship, mainly for Pakistan and the developing world. Originality/value: The study would support in achieving economic development by diverting individuals' intention for entrepreneurship.

  • The role of high-performance work system and human capital in enhancing job performance

    Purpose: The aim of the current research is to examine how job performance is affected by high-performance work system (HPWS) and human capital. Furthermore, the research focuses on exploring the mediating role played by human capital in HPWS and job performance relationship. Design/methodology/approach: Data was collected from service sector employees. A sample of 400 respondents was selected from the chosen population using purposive sampling. Findings: The results reveal that HPWS and human capital positively and significantly affect job performance. The impact of HPWS in creating human capital was also supported. The research also hypothesized mediating role played by human capital in HPWS and job performance relationship, and it was partially supported. Originality/value: Recent literature is evident of the relationship between performance and HPWS; however, the mechanism between these variables is still unclear (Demirbag et al., 2014). There is a need of identifying the factors that strengthen this relationship. The current research is an attempt to fill this gap by examining the effect of HPWS on job performance. Furthermore, it explores the role played by human capital in strengthening the connection of HPWS and job performance.

  • The influence of health on economic growth from the perspective of sustainable development: a case of OECD countries

    Purpose: This study aims to explain the role of health on economic growth for OECD countries in the context of sustainable development. Accordingly, the study investigates the relationship between health and economic growth in OECD countries. Design/methodology/approach: This study employed cluster analysis and econometric methods. By cluster analysis, 12 OECD countries (France, Germany, Finland, Slovenia, Belgium, Portugal, Estonia, Czech Republic, Hungary, South Korea, Poland and Slovakia) were classified into two clusters as high and low health status through health indicators. For panel threshold analysis, the data included growth rates, life expectancy at birth, export rates, population data, fixed capital investments, inflation and foreign direct investment for the period of 1999–2016. Findings: The study determined two main clusters as countries with high health status (level) and low health status (level), but there was no threshold effect in clusters. It was concluded that an increase in the life expectancy at birth of countries with higher health status had no significant impact on economic growth. However, the increase in the life expectancy at birth of countries with lower health status influenced economic growth positively. Research limitations/implications: This study used data that including period of 1999–2016 for OECD countries. In addition, the study used cluster analysis to determine health status of countries, and then panel threshold analysis was preferred to explain significant relations. Originality/value: This study showed that the role of health on economic growth can change toward country groups as higher and lower health status. It was proved that higher life expectancy can influence economic growth positively in countries with worse or low health status. In this context, developing countries, which try to achieve sustainable development, should improve their health status to achieve economic and social development at the same time.

  • Seedling production and choice among cashew farmers in Ghana: a profitability analysis

    Purpose: The unavailability and inadequate use of cashew seedlings for propagation are part of the challenges facing the cashew sub-sector in Ghana. However, promoting investment into cashew seedling production should be based on the analysis of the profitability and viability of such a venture as well as the respective determinants of farmers' demand for the planting material. Design/methodology/approach: This study used gross margin/contribution, net margin and contribution ratios to analyse the profitability of cashew seedling production under four different business models. Also, the determinants of choice of planting material for cashew plantation among farmers was analysed via a multinomial probit regression. Findings: The study revealed that cashew seedling production is profitable with a gross margin of $8,474, $2,242, $1,616 and $1,797 and contribution to sales of 31–53% for the various business models. The positive determinants of the use of cashew seedlings were off-farm job participation and extension contact, whereas farm size and age of plantation negatively influenced the use of seedlings. Land acquisition method also influenced the use of both seedlings and seeds negatively. Practical implications: The findings provide empirical evidence of the viability and profitability of cashew seedling production as a viable business venture and off-farm opportunity in rural areas. The information from the study will help major stakeholders in cashew production to understand the type of farmers who use seeds and seedlings as well as the reasons for using or otherwise. Originality/value: Significant research in the cashew value chain had focussed on the profitability of cashew plantation with little literature on profitability and viability analysis of cashew seedling production. Similarly, this study provides a significant value chain job opportunity as well as literature on the choice of cashew seedlings among current and prospective end-users.

  • Deriving successful venture capital deal profile through decision tree analysis in Indian context

    Purpose: This study is based on the development of predictive classification for the success of a venture capital (VC) deal derived from both qualitative and quantitative indicators. Design/methodology/approach: Decision tree analysis has used for devising the success model of VC deal. Various deal characteristics are considered in this study as the observable component of success. Findings: The finding of this analysis indicates that the success of the deal does not only depend on the final outcome like post company valuation (POST_COMP), realised revenue (RREV) but also depends on various observable contractual characteristics like syndication, use of convertible security and ownership percentage with some noticeable deal features. Practical implications: This study increases the further scope of study on a contractual mechanisms such as allocation of cash flow right and control right in the deal contract between venture investor and entrepreneur firm. This could give a better understanding of success path of a venture deal. Originality/value: This study has attempted to derive a performance model based on observable attributes of a VC deal.

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