Corporate governance and investment-cash flow sensitivity: Evidence from emerging markets

Abstract 

Controlling for country-level governance, we investigate how firms' corporate governance influences financing constraints. Using firm-level corporate governance rankings across 14 emerging markets, we find that better corporate governance lowers the dependence of emerging market firms on internally generated cash flows, and reduces financing constraints that would otherwise distort efficient allocation of investment and destroy firm value. Additionally and more importantly, firm-level corporate governancematters more significantly in countries with weaker country-level governance. This suggests substitutability between firm-specific and country-level governance in determining a firm's investment sensitivity to internal cash flows.

The relationship between revenue diversification and bank performance

A B S T R A C T
This paper contributes to the existing literature by investigating the impact of revenue diversification on bank performance through a broad array of financial reforms, including credit controls, interest rate controls, entry barriers, banking supervision, privatization, and financial account restrictions. This analysis is the first to investigate whether financial structures (bank- or market-based systems) change the effect of diversification on individual bank performance. We use a panel dataset sample from 29 Asia- Pacific countries covering the period between 1995 and 2009, for a total of 2372 banks. Unlike the results of previous studies based on data from the U.S. and Europe, this study confirms the hypothesis of the portfolio diversification effect for the Asia-Pacific banking industry. For bank-based groups, bank performance can be improved through diversification, supporting the ‘‘bank-based view’’ hypothesis. 

مقاله لاتین بررسی تاثیر دانش و یادگیری بر عملکرد سازمانی

Abstract
Purpose – Through investigating the relationship among human resource management (HRM), organizational learning (OL), organizational innovation (OI), knowledge management capability (KMC), and organizational performance (OP), the aim of this paper was to find a way of mproving organizational performance through learning and knowledge.

Design/methodology/approach – A survey questionnaire was utilized to collect data. The population of this study included 659 employees from electronic industrial listed and over-the-counter listed technological companies in Taiwan (N ¼ 208, valid return rate 37.21 percent). Descriptive

statistics, exploratory and confirmatory factor analysis, as well as structural equation modeling were
used for data analysis.

مقاله لاتین بررسی ارتباط توانمندسازی سازمانی و روانی و عملکرد مدیریت منابع انسانی

Organisational and psychological empowerment in the HRM-performance linkage

Abstract

Purpose – This paper aims to clarify the meaning of empowerment concept and determine its role in the HRM-performance linkage.

Design/methodology/approach – A survey of 211 customer-contact employees at 30 upscale hotels in Lithuania was conducted to study organisational empowerment, as a bundle of HRM activities, and its association with employee attitudes and behaviour.

Findings – A distinction was made between organisational empowerment, as a bundle of HRM activities, and psychological empowerment, as an employee work-related attitude, and their role in the HRM-performance linkage was defined. Organisational empowerment was positively related to psychological empowerment, job satisfaction, and affective commitment. Psychological empowerment and affective commitment were found to mediate the impact of organisational empowerment on customer-oriented behaviour.