• Per capita carbon dioxide emissions across U.S. states by sector and fossil fuel source: evidence from club convergence tests

      Apergis, Nicholas; Payne, James E.; University of Piraeus; Georgia College & State University (Elsevier, 2017-01-17)
      This study extends the literature on the convergence of per capita carbon dioxide emissions by examining the 50 U.S. states including the District of Columbia in the aggregate, by sector, and by fossil fuel source using the Phillips-Sul club convergence approach for the period 1980 to 2013. The results indicate multiple convergence clubs in the aggregate, by sector (residential, commercial, industrial, transport, and electric power), and for two of the three fossil fuel sources (natural gas and coal) with full panel club convergence in the case of petroleum. The presence of multiple equilibria suggests that environmental policies should recognize the distinctive convergence paths associated with each cluster of states.
    • Poetry in motion: creative networking in micro retail

      Foster, Carley; Brindley, Clare; Nottingham Trent University (British Academy of Management, 2015)
      This developmental paper explores the role of networks in the micro retail sector by providing qualitative evidence from a longitudinal study of a female owned retail publishing business. The preliminary analysis finds that the owner has drawn upon her own social capital to develop networks which have been crucial to the survival of the retail business. These networks are informal, wide reaching and closely linked to the social bonds the owner has made with other individuals who share similar values to that of the business.
    • Political and Institutional Factors in the Convergence of International Equity Markets: Evidence from the Club Convergence and Clustering Procedure

      Apergis, Nicholas; Christou, Christina; Payne, James; University of Piraeus; University of Piraeus; Illinois State University (Springer, 2011-03)
      In this study the new panel convergence methodology developed by Phillips and Sul (2007) is employed to explore the convergence dynamics of international equity markets and determine whether political and institutional factors can explain convergence or divergence patterns across international equity markets. The empirical findings suggest that international equity markets do not form a homogeneous convergence club. Seven specific political and institutional factors are used to explain such divergent behavior. The empirical analysis documented specific factors, i.e. democratization, unemployment benefits, and public expenditure on pensions, which seem capable of explaining such a heterogeneous divergent pattern among the equity markets under study.
    • Prediction of financial distress for multinational corporations: Panel estimations across countries.

      Apergis, Nicholas; Bhattacharya, Mita; Inekwe, John; University of Piraeus; Monash University; Macquarie University (Taylor & Francis, 2019-03-21)
      This research predicts ex-ante financial distress and analyses the link between financial distress, performance, employment, and research and development (R&D) investment in the case of multinational companies (MNCs). The conditional logit and hazard models are employed to predict financial distress, while a conditional mixed process model is employed to obtain consistent and efficient estimates. Financial distress generates contractions in performance, employment, and R&D investment. Hedging against risk mitigates the effect of financial distress on R&D. Our findings vary across countries, for example, we find MNCs in Canada, Israel and the U.S. benefit from hedging against risk. The findings also indicate that ex-ante financial distress is detrimental to employment for Canada, the U.K., the Netherlands and the U.S. The findings indicate the MNCs play different roles across countries in contributing jobs, investment in R&D during the distress period.
    • Price Concentration: New Evidence from Greek Industries and the Cournot Model

      Apergis, Nicholas; Monastiriotis, Vasilios; University of Piraeus; London School of Economics (Wiley, 2013-06-20)
      This paper investigates the degree of competitive forces across Greek industries over the period 2000–2011 at the three‐digit SIC level. Based on the simple Cournot modelling approach, three alternative models are used to investigate the competitive conditions across industries. The empirical results indicate that the majority of Greek industries, with the exception of the Chemicals industry, operate in non‐competitive conditions.
    • Professional doctorate curriculum design: A resource dependency analysis of DBA stakeholders

      Foster, Carley; Kirk, Susan; University of Derby; Nottingham Trent University (British Academy of Management, 2016-09-07)
      Interest in Professional Doctorates (ProfDs), including the Doctorate in Business Administration (DBA) programme, has increased significantly over recent years (Mellors-Bourne et al., 2016). Wildly et al (2015:p762) suggest that this is because globally, there is interest in research degrees which are ‘…more relevant, field-based doctoral studies incorporating applied rather than pure research…’. In comparison to a PhD, a Professional Doctorate adopts a more structured approach to learning and typically attracts industry professionals who wish to investigate a work-based problem through doctoral level research (Costley and Lester, 2012; Chiteng Kot and Hendel, 2011). Furthermore, according to Lester (2004:p767) ProfDs aim to be ‘…academically robust and directly relevant to professional practitioners who are concerned with leading practice and initiating change rather than being researchers.’ The DBA in particular has proven to be a popular Professional Doctorate, representing a natural progression from the MBA.
    • Professional standards research: diversity in the workplace

      Harris, Lynette; Foster, Carley; Nottingham Trent University (Chartered Institute of Personnel and Development, 2004)
    • Public and Private Investments in Greece: Complementary or Substitute ‘Goods’?

      Apergis, Nicholas; University of Ioannina (Wiley, 2002-12-16)
      This paper investigates whether government investment spending exerts a positive or a negative effect on private investments. Time‐series data for Greece as well as the methodology of cointegration suggest that, over the period 1948‐80, public investment spending exerted a positive effect on private investments, while over the period 1981‐96, the relationship turned out to be negative. Empirical results indicate that the large increase of the public share in the total investment process tended to crowd out private investments and to jeopardize the growth process of the economy.
    • Re-evaluating supply chain integration and firm performance: linking operations strategy to supply chain strategy

      Wiengarten, Frank; Li, Huashan; Singh, Prakash J.; Fynes, Brian; Ramon Llull University, Barcelona, Spain; University of Melbourne; University College Dublin (Emerald, 2019-06-11)
      This paper aims to explore the performance implications of supply chain integration (SCI) taking a strategic perspective. Thus, this paper is set to provide answers to the following research questions: Does a higher degree of SCI always lead to greater firm performance improvements? As the answer to this question is likely to be no, the authors explore the performance implications from a strategic perspective: Is the SCI–performance relationship contingent on a company’s competitive priorities (i.e. operations strategy)? The authors explore their questions through multiple quasi-independent data sets to test the impact of SCI on firm performance. Furthermore, the authors provide a more nuanced conceptual and empirical view to explore the previously uncovered contradictory results and contingent relationship challenging the “more integration equals higher firm performance” proposition. The results only provide partial support for the proposition that more integration is always beneficial in the supply chain context. The authors also identified that the impact of SCI on financial performance is contingent on a company’s competitive priorities. This study provides a much-needed comprehensive assessment of the SCI–performance relationship through critically re-evaluating one of the most popular propositions in the field of supply chain management. The results can be extrapolated beyond the dyad, as the authors conceptualise integration simultaneously from an upstream and downstream perspective.
    • Reassessing the role of buffer stock money under oil price shocks

      Apergis, Nicholas; University of Ioannina (Springer, 2001-03)
      This paper uses the structural vector autoregressive approach to assess the significance of buffer stock money under alternative real shocks in the U.S. economy over the 1960–96 period. Buffer stock effects are shown to play a minor role when oil price shocks are explicitly considered.
    • The relationship between corruption and income inequality in U.S. states: evidence from a panel cointegration and error correction model

      Apergis, Nicholas; Dincer, Oguzhan; Payne, James; University of Piraeus; Illinois State University; Illinois State University (Springer, 2010-10)
      We investigate the causality between corruption and income inequality within a multivariate framework using a panel data set of all 50 U.S. states over the period 1980 to 2004. The heterogeneous panel cointegration test by Pedroni (Oxf. Bull. Econ. Stat. 61:653–670, 1999; Econom. Theory 20:597–627, 2004) indicates that in the long run corruption and the unemployment rate have a positive and statistically significant impact on income inequality while a negative impact is found for real personal income per capita, education, and unionization rate. The Granger-causality results associated with a panel vector error correction model indicate both short-run and long-run bidirectional causality between corruption and income inequality.
    • The relationship between international financial reporting standards, carbon emissions, and R&D expenditures: Evidence from European manufacturing firms

      Apergis, Nicholas; Eleftheriou, Sofia; Payne, James; University of Piraeus; University of Piraeus; University of New Orleans (Elsevier, 2013-04)
      This study examines the impact of research and development (R&D) expenditures on carbon dioxide (CO2) emissions prior to and under the mandatory adoption of International Financial Reporting Standards at the firm level within the manufacturing sectors of three European countries, i.e. Germany, France and the U.K. Estimation of a threshold autoregressive model using quarterly data from 1998 to 2011 reveals that in the post-IFRS mandatory adoption year R&D expenditures show a reduction in CO2 emissions to firms, i.e. rising CO2 abatement. This is likely due to the presence of incentives provided by the new accounting disclosure regime. Our results remain robust in terms of a sector analysis, firm size, and the introduction of the European Union Emission Trading Scheme (EU-ETS) across the three countries.
    • The relationship between investments in lean practices and operational performance: exploring the moderating effects of operational intellectual capital

      Onofrei, George; Fynes, Brian; Wiengarten, Frank; Humphreys, Paul; Prester, Jazna; University College Dublin (Emerald, 2019-05-03)
      Prior research has shown that operational intellectual capital (OIC) and investments in lean practices (ILP) lead to better operational performance. However, there has been no empirical studies on the synergetic effects between OIC components and ILP. More specifically, the question: can the efficacy of ILP be increased through OIC has not been studied. Accordingly, the purpose of this study is to report the empirical results of potential synergetic effects between operational intellectual capital (OIC), as a knowledge-based resource, and ILP. The empirical data used for this study was drawn from the fifth round of the Global Manufacturing Research Group (GMRG) survey project (with data collected from 528 manufacturing plants). The hypotheses are empirically tested using three ordinary least square (OLS) models. Our findings highlight the importance of leveraging a system of complementary knowledge based resources (OIC dimensions) and addresses the need for the reformulation of lean theory in terms of the emergent knowledge-based view (KBV) of the firm. The results facilitate greater understanding of the complex relationship between ILP and operational performance. Building on the contribution of Menor et al. (2007), we argue that OIC represents a strategic knowledge based resource that is valuable, hard to imitate or substitute and when leveraged effectively, generates superior operational and competitive advantage.From a managerial standpoint, this study provides guidelines for managers on how to leverage OIC to enhance the efficacy of ILP. We argue that firms consider investing in OIC to increase the return from ILP, which in turn will enhance their operational performance and provide competitive advantage. Our findings provide strong evidence of the importance of human, social and structural capital to enhance the efficacy of ILP. This is the first research paper that extends the application of intellectual capital theory in lean literature, and argues that the operational intellectual capital contributes to the efficacy of ILP. The analysis facilitates greater understanding of the complex relationship between OIC dimensions, ILP and operational performance.
    • Renewable energy consumption and economic growth: Evidence from a panel of OECD countries

      Apergis, Nicholas; Payne, James; University of Piraeus; Illinois State University (Elsevier, 2010-01)
      This study examines the relationship between renewable energy consumption and economic growth for a panel of twenty OECD countries over the period 1985–2005 within a multivariate framework. Given the relatively short span of the time series data, a panel cointegration and error correction model is employed to infer the causal relationship. The heterogeneous panel cointegration test reveals a long-run equilibrium relationship between real GDP, renewable energy consumption, real gross fixed capital formation, and the labor force with the respective coefficients positive and statistically significant. The Granger-causality results indicate bidirectional causality between renewable energy consumption and economic growth in both the short- and long-run.
    • Renewable energy, output, CO2 emissions, and fossil fuel prices in Central America: Evidence from a nonlinear panel smooth transition vector error correction model

      Apergis, Nicholas; Payne, James; University of Piraeus; University of New Orleans (Elsevier, 2014-01-20)
      This study examines the determinants of renewable energy consumption per capita for a panel of seven Central American countries over the period 1980 to 2010. Specifically, we find that a long-run cointegrated relationship exists between renewable energy consumption per capita, real GDP per capita, carbon emissions per capita, real coal prices, and real oil prices with the respective coefficients positive and statistically significant. A structural break in the cointegrating relationship appears in 2002 which coincides with the establishment of the Energy and Environment Partnership with Central America initiative to expand the use of renewable energy sources. Recognizing the regime shift in 2002, we estimate a nonlinear panel smooth transition vector error correction model to show that for the post-2002 period, the influence of renewable energy consumption per capita upon real coal and oil prices strengthened relative to the pre-2002 period as well as a greater sensitivity of real GDP per capita to carbon emissions per capita.
    • Resource allocation in multi-class dynamic PERT networks with finite capacity

      Yaghoubi, Saeed; Noori, Siamak; Azaron, Amir; Fynes, Brian; University College Dublin (Elsevier., 2015-06-24)
      In this paper, the resource allocation problem in multi-class dynamic PERT networks with finite capacity of concurrent projects (COnstant Number of Projects In Process (CONPIP)) is studied. The dynamic PERT network is modeled as a queuing network, where new projects from different classes (types) are generated according to independent Poisson processes with different rates over the time horizon. Each activity of a project is performed at a devoted service station with one server located in a node of the network, whereas activity durations for different classes in each service station are independent and exponentially distributed random variables with different service rates. Indeed, the projects from different classes may be different in their precedence networks and also the durations of the activities. For modeling the multi-class dynamic PERT . networks with CONPIP, we first consider every class separately and convert the queueing network of every class into a proper stochastic network. Then, by constructing a proper finite-state continuous-time Markov model, a system of differential equations is created to compute the project completion time distribution for any particular project. The problem is formulated as a multi-objective model with three objectives to optimally control the resources allocated to the service stations. Finally, we develop a simulated annealing (SA) algorithm to solve this multi-objective problem, using the goal attainment formulation.We also compare the SA results against the results of a discrete-time approximation of the original optimal control problem, to show the effectiveness of the proposed solution technique.
    • Resurrecting the size effect: Evidence from a panel nonlinear cointegration model for the G7 stock markets

      Apergis, Nicholas; Payne, James; University of Piraeus; University of New Orleans (Wiley, 2013-08-27)
      Firm size is known to be an important factor affecting stock returns. This study proposes a panel threshold cointegration model to investigate the impact of the size effect on stock returns for the panel of G7 countries: Canada, France, Germany, Italy, Japan, the U.K., and the U.S. over the period 1991:1–2012:12. The empirical analysis is based upon the nonlinear cointegration framework using the asymmetric ARDL cointegration methodology (Shin et al., 2011). This methodological approach permits a much richer degree of flexibility in the dynamic adjustment process toward equilibrium, than in the classical linear model. Our findings indicate the presence of asymmetric adjustment around a unique long‐run equilibrium. In particular, the empirical analysis provides evidence of asymmetric effects between stock returns and the size effect, while controlling for the book‐to‐market ratio and the price‐to‐earnings ratio.
    • The role and impact of executive coaching in the Maltese public sector

      Borg Ellul, Duncan; Wond, Tracey; University of Derby (Emerald, 2020-04-06)
      The present study aims to conduct a critical review of an existing set of practices within the Maltese public sector. This study is based on interpretivism (people-centred approach) embedded in a pragmatic research paradigm (the use of mixed methods). Misconceptions about the role and practice of executive coaching in Malta relates to the similar roles ascribed to mentoring, supervision, therapy, consultation, coaching, audit and watchdog under the misnomer of “coaching”. The main contribution of this research is to the community of professional practitioners as well as to the Maltese central government to improve managerial effectiveness in the Maltese public sector with several endorsed policy-level recommendations presented in the study. The results suggest a restructuring of a well-defined, structures, systems and dynamics within the Maltese public administration, the ability by senior management including senior public officers (SPOs) to recognise high-potential talents, the need to expand leadership capacity, the establishment of a professional coaching body and a national coaching network framework. To the best of the authors’ knowledge, this is the first study that investigates the role and impact of executive coaching in the Maltese public sector using quantitative and qualitative empirical data.
    • The role of age and gender in the retail service encounter

      Foster, Carley; Resnick, Sheilagh; Nottingham Trent University (2011)
      Research typically explores the service encounter in relation to the soft and hard skills of front line staff, yet has neglected the role the visible diversity of sales staff have on the interactions between the service deliverer and receiver. This paper therefore attempts to address this gap in knowledge by reporting on how the age and gender of customer facing staff can influence customer evaluations of the retail service encounter in a health and beauty retailer. An analysis of qualitative interviews with forty customers and twenty store staff propose that customers attempt to 'match' and 'mirror' the age and gender of sales staff with their expectations of who should deliver good retail service during the retail service encounter.
    • The role of co-creation in corporate branding: the case of a Higher Education Institution

      Spry, L.; Foster, Carley; Pich, Christopher; Nottingham Trent University (2015)