• Health behaviour convergence: evidence from fractional (long memory) convergence and British microdata.

      Apergis, Nicholas; University of Piraeus (Wiley, 2017-03-05)
      This paper uses a fractional methodology to assess convergence in terms of differences in health quality measures, based on six primary criteria, across the English regions. Hence, it uses the English Longitudinal Study of Ageing database and the retrospective interviews from 16,894 participants, aged 50+, with data from three waves–2004/5, 2006/7 and 2008/9, to establish that health quality is characterized by divergences across six health quality criteria. When the overall sample is differentiated through income, education and employment, the evidence favors convergence, indicating that certain socioeconomic factors impose a uniform behavioral attitude of the population toward health quality criteria.
    • Health care expenditure and environmental pollution: a cross-country comparison across different income groups

      Apergis, Nicholas; Bhattacharya, Mita; Hadhri, Walid; University of Derby; Monash University; UAQUAP, Higher Institute of Management (Springer, 2020-01-03)
      This paper investigates the long-run dynamics between health care expenditure and environmental pollution across four global income groups. The analysis uses data from 178 countries, spanning the period 1995–2017. Panel estimations are employed with unobserved heterogeneity, temporal persistence, and cross-sectional dependence using a model with common correlated effects. The findings document that the health care expenditure is a necessity for all sub-groups. We established that a 1% increase in national income increased health expenditure by 7.2% in the full sample, and 9.3%, 8.6%, 6.8% and 2.9% for low, low-middle, upper-middle and high-income groups, respectively, while a 1% increase in CO2 emissions increased health expenditure by 2.5% in the full sample, and 2.9%, 1.2%, 2.3% and 2.6% across these four income groups. We recommend that coordinated approach is needed in setting policy goals both in energy and health sectors in mitigating the negative effects of pollution. Our findings indicate that low-carbon emissions and energy efficient health care services will significantly reduce future health care expenses.
    • Health expenses and economic growth: convergence dynamics across the Indian States

      Apergis, Nicholas; Padhi, Puja; University of Piraeus; IIT Bombay (Springer, 2013-11)
      In this paper we explore convergence of real per capita output and health expenses across the Indian States. The new panel convergence methodology, developed by Phillips and Sul (Econometrica 75:1771–1855, 2007), is employed. The empirical findings suggest that these States form distinct convergent clubs, exhibiting considerable heterogeneity in the underlying growth and health expenses factors. These findings should help policy makers in designing appropriate growth-oriented and/or health sector programs and setting priorities in their implementation.
    • How deviations from FOMC’s monetary policy decisions from a benchmark monetary policy rule affect bank profitability: evidence from U.S. banks

      Apergis, Nicholas; Lau, Chi Keung Marco; University of Piraeus; Northumbria University (Emerald, 2017-05-22)
      This paper aims to provide fresh empirical evidence on how Federal Open Market Committee (FOMC) monetary policy decisions from a benchmark monetary policy rule affect the profitability of US banking institutions. It thereby provides a link between the literature on central bank monetary policy implementation through monetary rules and banks’ profitability. It uses a novel data set from 11,894 US banks, spanning the period 1990 to 2013. The empirical findings show that deviations of FOMC monetary policy decisions from a number of benchmark linear and non-linear monetary (Taylor type) rules exert a negative and statistically significant impact on banks’ profitability.
    • HRIS project teams skills and knowledge: a human capital analysis

      Williams, Hazel; Tansley, Carole; Foster, Carley; Bondarouk, T; Nottingham Trent University (IGI GlobalHershey, PA, 2009)
    • Identity ambiguity and the promises and practices of hybrid e-HRM project teams

      Tansley, Carole; Huang, J.; Foster, Carley; Nottingham Trent University (Elsevier, 2013)
      The role of IS project team identity work in the enactment of day-to-day relationships with their internal clients is under-researched. We address this gap by examining the identity work undertaken by an electronic human resource management (e-HRM) 'hybrid' project team engaged in an enterprise-wide IS implementation for their multi-national organisation. Utilising social identity theory, we identify three distinctive, interrelated dimensions of project team identity work (project team management, team 'value propositions' (promises) and the team's 'knowledge practice'). We reveal how dissonance between two perspectives of e-HRM project identity work (clients' expected norms of project team's service and project team's expected norms of themselves) results in identity ambiguity. Our research contributions are to identity studies in the IS project management, HR and hybrid literatures and to managerial practice by challenging the assumption that hybrid experts are the panacea for problems associated with IS projects.
    • The impact of fracking activities on Oklahoma’s housing prices: a panel cointegration analysis.

      Apergis, Nicholas; University of Piraeus (Elsevier., 2019-01-08)
      Fracking drilling has opened a discussion on the role of technological developments in economies engaged in shale oil and gas formations. Oil and natural gas production opened new possibilities for employment benefits and housing prices decreases. This paper explores, for the first time, the impact of fracking on housing prices across Oklahoma’s counties, spanning the period 2000-2015. Through panel methods, the findings show a positive effect on housing prices, while this positive effect gains statistical significance only over the period after the 2006 fracking boom. The results survive a robustness check that explicitly considers distance and groundwater-dependency issues.
    • The impact of greenhouse gas emissions on personal well-being: evidence from a panel of 58 countries and aggregate and regional country samples.

      Apergis, Nicholas; University of Piraeus (Springer, 2016-10-14)
      This study investigates the link between personal well-being and per capita greenhouse gas emissions by considering a panel data methodological approach. The empirical findings illustrate that there is a significant effect of those emissions on personal well-being through the aggregate country sample. A robust finding is that similar results hold across regional samples, with the strongest effect being displayed in the case of the European regional component. The empirical findings are expected to carry important implications for consumers, corporations, and economic policy makers who all must take explicitly into consideration the impact of their economic decisions on the sustainability of economic growth plans.
    • Implementing diversity management in retailing: exploring the role of organisational context

      Foster, Carley; Nottingham Trent University (Routledge (Taylor & Francis Group), 2005)
      Diversity management is a means of managing customer and employee differences for the benefit of the organisation. This qualitative study considers how contextual factors influence diversity management implementation in different retailing environments. Exploratory research was conducted in three SBUs of a UK retailing group: the UK high street SBU, the US operations and the online SBU. Despite different cultural, legal and historical differences between the UK and US, these factors did not lead to significantly different ways of dealing with diversity in the UK high street and US businesses. Instead the extent to which individual differences were recognised was influenced by the selling environment and the retailer’s size and structure. The paper recommends that retailer’s need to develop a ‘home-grown’ approach to diversity management that acknowledges their organisational context.
    • Implementing diversity management in retailing: exploring the role of organisational context

      Foster, Carley; Nottingham Trent University (Routledge (Taylor & Francis Group), 2005)
      Diversity management is a means of managing customer and employee differences for the benefit of the organisation. This qualitative study considers how contextual factors influence diversity management implementation in different retailing environments. Exploratory research was conducted in three SBUs of a UK retailing group: the UK high street SBU, the US operations and the online SBU. Despite different cultural, legal and historical differences between the UK and US, these factors did not lead to significantly different ways of dealing with diversity in the UK high street and US businesses. Instead the extent to which individual differences were recognised was influenced by the selling environment and the retailer’s size and structure. The paper recommends that retailer’s need to develop a ‘home-grown’ approach to diversity management that acknowledges their organisational context.
    • Improving the position of women in the labour market - a study of retailing

      Foster, Carley; Harris, Lynette; Whysall, P.; Nottingham Trent University (European Social Fund, 2006)
    • Inflation and Uncertainty: Does the EMS P a rticipation Play Any Role?

      Apergis, Nicholas; University of Macedonia (Sejong University, 1998-12)
      This paper examines whether European Monetary System (EMS) member - ship has affected the link between inflation and inflation uncertainty. ARCH measures of conditional inflation volatility and Granger-causality tests for nine OECD countries over the period 1980-1994 indicate that in non-EMS coun - tries -in these countries a monetary target seems to have been closely followedinflation seems to determine the behaviour of inflation uncert a i n t y. By con - trast, in EMS countries – these countries have geared their monetary policies to an exchange rate target – inflation seems to have no impact on inflation uncertainty. This finding is probably due first, to the absence of any institution - al restriction that characterises non-EMS membership, on the manner the monetary policy is pursued, and second, to the fact that under a monetary rule, any institutional or regulatory changes in the monetary sector are expected to fall more adversely upon inflation as well as inflation uncertainty.
    • Inflation uncertainty, money demand, and monetary deregulation: Evidence from a univariate ARCH model and cointegration tests

      Apergis, Nicholas; University of Macedonia (Elsevier, 1997-06)
      This study has extended a money demand equation to include uncertainty of inflation. It is proved via cointegration techniques that inflation uncertainty in Greece is described well by an Autoregressive Conditional Heteroskedasticity (ARCH) process over the period 1975-93, following the deregulation of the monetary system in 1988 and in terms of capturing money demand structural instabilities.
    • Inflation volatility and stock prices: Evidence from ARCH effects

      Apergis, Nicholas; Alexakis, Panagiotis; Xanthakis, Emmanuel; University of Macedonia; University of Aegean; University of Athens (Springer, 1996-05)
      This paper examines the impact of inflation uncertainty on stock prices in developed as well as in emerging capital markets over the period 1980:1–93:12 via an Autoregressive Conditional Heteroskedasticity (ARCH) model for inflation. The results seem to support the presence of a negative association between inflation uncertainty and stock prices.
    • The inflation–output volatility trade-off: a case where anti-inflation monetary policy turns out to be successful, a historical assessment

      Apergis, Nicholas; University of Piraeus (Elsevier, 2003-12)
      Over the period 1988–2000, the Greek monetary authorities seemed to have implemented a successful disinflation policy. The question, however, is whether this disinflation was optimal or not. This paper, through a theoretical model and the GMM approach, constructs an optimal policy frontier in terms of a trade-off between output and inflation variabilities. The frontier yields increases in the output variance when policymakers attempt to decrease inflation variances, and vice versa. The location of the actual monetary policy performance suggests a policy close to the frontier, implying a successful monetary policy.
    • The influence of FOMC member characteristics on the monetary policy decision-making process.

      Apergis, Nicholas; Smales, Lee; University of Piraeus; Curtin University (Elsevier., 2015-12-22)
      This paper provides new empirical evidence on a monetary policy committee with heterogeneous members whose decisions affect the efficacy of monetary policy. It thereby provides a link between the literature on monetary policy committees and central bank monetary policy implementation through monetary rules. Using a novel dataset of the idiosyncratic characteristics of FOMC members, over the period from August 1979 to February 2014, the empirical findings show that characteristics such as education, age, and, to a lesser extent, work experience are not important in understanding the FOMC decision-making process. Instead, the results point to the importance of time spent within the Federal Reserve System, tenure on the FOMC itself, and the influence of the Chair in shaping the decision-making process. The results are expected to have implications for the capacity of economic agents, as well as various markets in the economy, to more readily interpret public (monetary policy) information that reaches them. This makes the monetary policy decision process less noisy and thus enhances the capability of agents and markets to attach the correct weight to this information.
    • The influence of policy, public service and local politics on the shift to a low carbon economy in the East Midlands.

      Pearce, Warren; Paterson, Fred; University of Sheffield; University of Derby (Palgrave Macmillan, 2017-11-12)
      This chapter charts the shift from sustainable development policy drivers, through the emergence of climate policy and its impact on public service managers, to the more recent development of low-carbon policy. We also explore the relationship between local business, the local political ‘regime’, the national and European political ‘landscape’ and implications for local actors in the East Midlands; arguing that while low-carbon policy might be more in tune with political realities than attempts at wholesale reductions of carbon emissions, it has brought into question the viability of existing carbon reduction targets. In doing this, we explore the tensions between the ‘grand challenge’ of climate change, the difficult details of policy implementation and the pragmatic reality of business practice.
    • Innovation, Technology Transfer and Labor Productivity Linkages: Evidence from a Panel of Manufacturing Industries

      Apergis, Nicholas; Economidou, Claire; Fillipidis, Ioannis; University of Piraeus; University of Utrecht; Aristotelian University of Thessaloniki (Springer, 2008-10)
      The paper explores the linkages between labour productivity, innovation and technology spillovers in a panel of manufacturing industries. The roles of R&D, human capital and international trade are considered in stimulating innovation and/or facilitating technology transfer. Using panel-based unit root tests and cointegration analysis, the results indicate the existence of a single long-run equilibrium relation between labour productivity, innovation and technology transfer. Further, R&D, trade and human capital have statistically and, especially the latter, quantitatively important effects on labour productivity both directly via innovation and indirectly as they enhance technology diffusion.
    • Integration of international capital markets: further evidence from EMS and non-EMS membership

      Alexakis, Panagiotis; Apergis, Nicholas; Xanthakis, Emmanuel; University of Athens; University of Macedonia; University of Athens (Elsevier, 1997-10)
      The present paper examines whether real interest rates from nine financial markets—five European Monetary System (EMS) and four non-EMS markets—are financially integrated both on a world-wide basis and within each market individually. Monthly data on nominal interest rates and prices over the period 1982:1–1993:12 along with the methodology of cointegration are used to serve the purposes of the empirical analysis. The results provide support to the integrated market hypothesis as regards the financial markets considered altogether, as well as the financial markets in each `block' of markets. The presence of a systematic real interest rate relationship in the long run is accepted both on a non-EMS and an EMS basis. This relationship proves to be stronger on the EMS basis than on the non-EMS basis; this is probably due to the lower exchange rate volatility within the EMS environment.
    • Integration of regional electricity markets in Australia: a price convergence assessment

      Apergis, Nicholas; Fontini, Fulvio; Inchauspe, Julian; University of Piraeus; University of Padua; Curtin University (Elsevier, 2016-07-19)
      From an electricity market design perspective, it is relevant and practical to know which market structures allow for price convergence, and how long this takes to achieve. This study employs the Phillips and Sul (2007, 2009) methodology to test for the convergence of wholesale electricity prices across the Australian States. We identify a long-run, common price growth pattern that applies to a cluster formed by three Eastern States that share common market characteristics and limited physical interconnection. We also find another cluster with less competitive market structures that, although not interconnected, strongly converge towards their own trend. These findings confirm theoretical expectations while quantifying the rate of convergence. Finally, we also investigate the role that the carbon tax regime has played in the convergence process, with new empirical showing that the previous results are not affected, with the notable exception being the case of South Australia.