• 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)
    • The role of fixed capital depreciations for TFP growth: evidence from firm level panel data estimates

      Apergis, Nicholas; Sorros, John; University of Piraeus; University of Piraeus (Springer, 2013-10)
      The role of accounting depreciation rates and the stocks of fixed capital has been well established in the literature. By exploring available evidence on the value of fixed assets in certain countries, this paper makes use of firm level data on fixed capital depreciations over the period 1990–2008 from a group of OECD countries along with panel data estimations to investigate their role for total factor productivity (TFP) as it is defined through growth accounting, since different capital depreciation profiles imply different rates of capital accumulation and, therefore, different estimates of TFP. The empirical results indicate a positive relationship between the two variables under study.
    • The role of FOMC minutes for US asset prices before and after the 2008 crisis: Evidence from GARCH volatility modeling.

      Apergis, Nicholas; Curtin University (Elsevier, 2014-10-07)
      This study explores the impact on US asset prices of novel data from minutes released by the Federal Open Market Committee. With data from fixed income assets, the main exchange rates of the US dollar, a House Price Index and various GARCH modeling, the empirical findings document significant effects of those minutes on the mean and volatility of asset prices only before the 2008 crisis. After the crisis, these effects become weaker, which is possibly attributable to the stronger transparency of monetary policy decisions as well as the implementation of monetary policy that persistently leads interest rates close to the zero lower bound, where they carry a weaker informational content. The baseline results survive a number of robustness tests. In addition, the findings are expected to provide important insight for monetary policymakers and market participants as they provide significant information on how well decisions are anticipated by market participants and how they adjust their views about future monetary policy, output growth, and inflation.
    • The role of gender in service quality

      Foster, Carley; Resnick, Sheilagh; Nottingham Trent University (2011)
    • The role of gender in service quality: a study in health and beauty retail

      Foster, Carley; Resnick, Sheilagh; Nottingham Trent University (2009)
    • The role of government intervention in financial development: micro‐evidence from China

      Apergis, Nicholas; Fu, Tong; Feng, Lingbing; Tao, Hu; Yan, Wu; University of Finance and Economics, China; University of Derby (Wiley, 2019-10-19)
      This paper distinguishes between different forms of government intervention upon a firm, including the firm’s tax burden, sales to the government and state shares. We investigate how these types of government intervention affect micro‐financial development. With evidence from China, we confirm that the micro‐financial development is promoted by the firm’s tax burden and sales to the government but constrained by the firm’s state shares. The findings remain robust to the endogeneity issue. The findings offer applications for government policies or a firm’s financing strategies.
    • The role of insurance growth in economic growth: Fresh evidene from a panel of OECD countires

      Apergis, Nicholas; Poufinas, Thomas; University of Derby; Democritus University of Thrace (Elsevier, 2020-05-11)
      Insurance is one of the key activities in a globalised financial and economic environment. Through its benefits, it offers income, life and property protection to the insured and their keens, as well as income accumulation that can be used at retirement to help preserve the desired lifestyle or living standards. Motivated by this end of insurance, the goal of this paper is to study the contribution of insurance growth to economic growth, by employing the benefit side of the insurance activity, next to the acquisition side that has already been considered. More precisely, the findings provide evidence that gross claims payments and gross operating expenses are significantly and positively related to economic growth. At the same time, the results confirm the findings of the existing literature that gross premia and insurance penetration are also significantly and positively related to economic growth. The outcomes hold true for total, life and non-life insurance, both during the pre- and post- 2008-crisis periods, even though less strong after the crisis. Furthermore, the positive and statistically significant impact of gross capital formation, government expenditure, secondary schooling, FDI inflows, trade openness and financial development is validated, in line with certain theoretical expectations.
    • The role of rare earth prices in renewable energy consumption: the actual driver for a renewable energy world

      Apergis, Nicholas; Apergis, Emmanuel; University of Kent; University of Piraeus (Elsevier, 2016-12-30)
      This study examines, for the first time in the energy issues literature, the long-run relationship between rare earth prices and the consumption of energy from renewables. The study applies standard time series econometric methodologies and monthly data in relevance to regional and income classification groups of countries, spanning the period 2004–2016. The empirical findings indicate the presence of a long-run relationship between these variables, but for certain rare earths and regions. The findings survive a multivariate robustness test, while they are expected to be of substantial importance for the world community, given that a few countries have control of those materials. The importance is lying on the need to establish a global green energy environment.
    • The role of stock markets on environmental degradation: A comparative study of developed and emerging market economies across the globe

      Paramati, Sudharshan Reddy; Alam, Md. Samsul; Apergis, Nicholas; Jiangxi University of Finance and Economics; University of Dundee; Griffith University; University of Piraeus (Elsevier, 2017-12-17)
      It is well established in the literature that stock markets increase both economic activities and energy consumption across countries. Therefore, it is commonly believed that stock markets are expected to have a significant effect on CO2 emissions. However, it is not known whether these stock markets can contribute to more or less CO2 emissions. Hence, the goal of this study is to examine the impact of stock market indicators on CO2 emissions across a global panel of both developed and emerging market economies. The results establish that stock market indicators have a significant negative and positive impact on carbon emissions in developed and emerging market economies, respectively. Furthermore, the findings illustrate the presence of the Environmental Kuznets Curve (EKC) hypothesis, implying that stronger stock markets lead to a further decline in carbon emissions. Given these findings, the study argues that the role of stock markets in the abatement of CO2 emissions significantly varies across both developed and emerging market economies. Significant implications have to do with the fact that developed markets might have initiated effective policies on listed firms to minimize carbon emissions, while emerging markets are yet to achieve this.
    • The role of the debt-service ratio as a leading indicator of households consumption.

      Apergis, Nicholas; University of Piraeus (Wiley, 2019)
      Given that household debt raises certain concerns about the resilience of the economy, against this backdrop, this paper explores whether household debt service matters as a leading indicator for consumption. Employing data from 32 countries, spanning the period 1999-2017, the empirical analysis provides fresh information on the fact that the debt-service ratio strongly predicts consumption expenditure. The results also document that the effect of the debt-service ratio on consumer expenditure differs across types of consumer spending (durables vs nondurables vs services). In particular, the impact is strong for the case of the durable goods and weaker in the other two cases. The findings imply that debt service may serve as an important channel, running from debt to consumer spending. Finally, the results survive a number of robustness tests, while liquidity constraints seem to dominate the drivers of household consumption decisions.
    • The role of value co-creation in SME pop-up retail space: a supply-side relational stakeholder perspective.

      Foster, Carley; Brindley, Clare; Oxborrow, Lynn; Armannsdottir, Guja; University of Derby; Nottingham Trent University (2017-07-05)
      Pop-ups are regarded as temporary retail space providing an experiential experience to customers, a solution to filling empty retail units and a way for SME retailers to market test products and services. Studies exploring the pop-up phenomenon have focused upon the vale co-creation between the customer and pop-up owner. However, this paper argues that the inter-organisational relationships the pop-up has with other supply-side stakeholders can also be a source of value co-creation for the pop-up. The paper argues that inter-organisational interactions are a source of value creation helping to improve the managerial capabilities and business model of the pop-up. This in turn improves the final offering to the end consumer. The study draws upon interview data collected from landlords, local authorities, shopping centres, community representatives and pop-owners across 6 sites in the UK, Iceland and the Netherlands.
    • The role of visible diversity in retail service quality

      Foster, Carley; Resnick, Sheilagh; Nottingham Trent University (2010)
    • Sensitivity of economic policy uncertainty to investor sentiment

      Rehman, Mobeen Ur; Apergis, Nicholas; University of Piraeus; University of Derby; Institute of Science and Technology Islamabad, Pakistan (Emerald, 2019-06-24)
      A series of global financial crises in 21st century, steep economic decline and slow recoveries have intensified the concern of regulatory bodies for economic policy certainty. This study explores the effect of investor sentiment on economic policy uncertainty (EPU), spanning the period 1995-2015. The analysis is carried out for Asian, Developed and the European market samples by applying the method of quantile regressions. The findings document the presence of a negative impact of investor sentiment on EPU. Robustness analysis illustrates the validity of the results for the cases of Asian and Developed markets.
    • Service worker appearance and the retail service encounter: the influence of gender and age

      Foster, Carley; Resnick, Sheilagh; Nottingham Trent University (RoutledgeAbingdon, 2013)
    • Skills and knowledge of HR IS project teams: a human capital analysis

      Williams, Hazel; Tansley, Carole; Foster, Carley; Nottingham Trent University (2008)
    • Small, flexible and family friendly working in the UK service sector

      Harris, Lynette; Foster, Carley; Nottingham Trent University (2005)