Women in the Workplace: COVID-19 and Work-Life Balance: JMI

The COVID-19 pandemic has cost the lives of an enormous number of individuals around the world, isolated people, and disrupted businesses. These are the direct and devastating consequences of the disease, however there are other peripheral impacts as well. The pandemic is continuing to threaten the work-life balance (WLB) of employees, disrupting their domestic lives, intensifying their general stress levels, and impacting their ability to focus on their careers. This is a significant problem for both working women as well as men, however this study suggests the negative impact is more disruptive to women. Women represent approximately 46% of the human resources for organizations and they are major contributors to advancements in domains such as healthcare, education, government, and commercial development. Organizations, as a defensive measure, need to adapt policies and procedures in an attempt to moderate the disruptive influences the virus is having on their human resources. This paper explores the extant literature and defragments diverse COVID-19 studies to capture an overall picture of the unique impact the pandemic is having on working women. A qualitative study involving semi-structured in-depth interviews with 20 professional women was conducted. Interviews were reviewed holistically with themes across interviews identified. Resulting themes include WLB expectations post-COVID-19, childcare, employers and expectations, and return to work. Thematic findings are discussed and observations relative to organizational implications are provided. Also offered are thoughts and suggestions for the enhancement of WLB, thereby benefiting both women and their organizations.

Halal trust during the COVID-19 outbreak: the role of quality, perceived benefit and health risk evidence from mobile food purchasing

PurposeThis study aims to scrutinize the halal trust model by integrating the quality and valence theory in the mobile food purchasing service during the COVID-19 outbreak.Design/methodology/approachThis research uses data from 368 Muslim customers collected via an online survey from Bandung, West Java, Indonesia. This study uses partial least square modelling to appraise the formation of halal trust, including halal food quality, mobile apps quality, perceived benefit and health risk as drivers and loyalty as the consequence.FindingsThe data analysis notes that the combination of perceived quality and valence theory provides a comprehensive understanding of halal trust in mobile halal food purchasing during COVID-19. This study also verifies the crucial role of halal food quality and mobile apps quality in gaining halal trust.Research limitations/implicationsThis study used data from Muslim customers of the greater Bandung, Indonesia. The data limited the generalization of this study's findings. Moreover, this study predicted halal trust by integrating perceived benefit, perceived trust and quality as the predictors, whereas other determinants such as commitment and reputation were not included. Therefore, future researchers can incorporate these issues in their future halal trust research.Practical implicationsTo gain Muslim trust, this study recommends managers whose halal food is sold via mobile apps ensure that their halal food has a quality standard, made of, and processed according to Islamic values. Next, having a high-quality mobile app is also a must.Originality/valueThis study is early research that examines the integration of the quality and valence theory to evaluate halal trust in mobile halal food purchasing during COVID-19.

The impact of Covid-19 on the capital structure in emerging economies: evidence from India

PurposeCapital structure is an important corporate financing decision, particularly for companies in emerging economies. This paper attempts to understand whether the pandemic had any significant impact on the capital structure of companies in emerging economies. India being a prominent emerging economy is an ideal candidate for the analysis.Design/methodology/approachThe study utilizes three leverage ratios in an extended market index, BSE500, for the period 2015–2021. The ratios considered are short-term leverage ratio (STLR), long-term leverage ratio (LTLR) and total leverage ratio (TLR). A dummy variable differentiates the pre-epidemic (2015–2019) and pandemic (2020–2021) period. Control variables are used to represent firm characteristics such as growth, tangibility, profit, size and liquidity. Dynamic panel data regression is employed to address endogeneity.FindingsThe findings point out that Covid-19 has had a significant, negative effect on LTLR, while the impact on STLR and TLR was insignificant. The findings indicate that companies based in a culturally risk-averse environment, such as India, would reduce the long-term debt to avoid bankruptcy in times of uncertainty.Research limitations/implicationsThe study covers the impact of the pandemic on Indian companies. Hence, generalization of the findings to global context might not be valid.Practical implicationsTo maintain economic growth in the post-crisis period, Indian policymakers should ensure accessibility to low-cost capital. The findings provide impetus to deepen the insignificant corporate bond market in India for future economic revival.Originality/valueDeveloping countries are struggling to revive the economies postpandemic. This is particularly true for Asian economies which are heavily reliant on banks for survival. This research finds evidence to utilize bond market as a source of raising capital for economic revival.

Professional shariah audit training via the e-learning approach during COVID-19: challenges and prospects

PurposeThis study aims to explore and identify potential challenges and prospects for conducting the professional shariah audit training programme via an e-learning approach during coronavirus disease 2019 (COVID-19).Design/methodology/approachQuestionnaires were administered to 296 participants who were enrolled in the professional shariah audit training programme via e-learning during the COVID-19 pandemic outbreak in 2020. These participants were final-year students from selected Malaysian public universities.FindingsFindings show that several main challenges are faced in adopting an e-learning approach for conducting the professional shariah audit training programme such as the inability to do more hands-on, group and physical activities, different understandings based on academic backgrounds, difficulty in learning practical and technical topics, technical issues and problems during e-learning sessions. These lead to the unsuitability of conducting professional training via the e-learning approach. In terms of prospects of knowledge learnt via the e-learning approach, participants showed that they are able to master all six modules covered in the professional shariah audit training programme via the e-learning approach. These include (1) shariah principles;(2) shariah governance;(3) Islamic financial transactions;(4) shariah risk management;(5) shariah audit planning and programme;and (6) shariah audit fieldwork and communication.Practical implicationsBased on the findings, it is suggested to have more time spent and earlier preparation on the learning contents and sessions, more discussion on actual contents and practical exercises and competency of the trainers in delivering e-learning sessions.Originality/valueThis study is believed to be one among the pioneering studies on the potential challenges and prospects in adopting e-learning for conducting the professional shariah audit training programme due to COVID-19.

Earnings management and issue characteristics: an empirical analysis of IPOs in India

PurposeThis study aims to examine earnings management around initial public offerings (IPOs) in India. It also explores the influence of issue characteristics on earnings management around the IPOs.Design/methodology/approachA sample of 511 IPOs that came during April 2003-March 2019 is studied for calculating earnings management for pre-issue, issue and post-issue years. Using Cross-Sectional Modified Jones Model, the paper presents earnings management on the basis of three proxies i.e. discretionary accruals, discretionary current accruals and discretionary long-term accruals. The influence of issue characteristics on earnings management practised around the IPOs is also observed through correlation and multiple regression analysis.FindingsThe paper finds that earnings management is abnormally high during the issue year compared with pre-issue and post-issue years. It also unveils that profitability, premium, age, and size of the issuer significantly determine the level of pre-issue and issue year earnings management practised by Indian IPO issuers.Research limitations/implicationsThe findings are useful to stakeholders (potential investors, analysts and regulators) to observe, assess and understand the quality of financial numbers that are based on fallacious disclosure of accounting figures. It provides insight into the possibilities of managed earnings around the issue that could influence investors' decision-making. Further, the study reflects the efficacy of Indian regulatory norms for IPOs.Originality/valueTo the authors' knowledge, it is the only Indian study that had used an extensive data set of about two decades to calculate earnings management during pre-issue, issue and post-issue years. The uniqueness of the study further lies in three proxies of earnings management representing short-term and long-term accruals. Moreover, it is the first study to observe the influence of IPO issue characteristics on earnings management.

Asian perspective of capital market performance amid the COVID 19 pandemic

PurposeThe purpose of this research is to investigate the short-term capital markets' reactions to the public announcement first local detection of novel corona virus (COVID 19) cases in 12 major Asian capital markets.Design/methodology/approachUsing the constant mean return model and the market model, an event study methodology has been implied to determine the cumulative abnormal returns (CARs) of 10 pre and post-event trading days. The statistical significance of the data was assessed using both parametric and nonparametric test statistics.FindingsFirst discovery of local COVID 19 cases had a substantial impact on all 12 Asian markets on the event day, as shown by statistically significant negative average abnormal return (AAR) and cumulative average abnormal return (CAAR). The single factor ANOVA result has also demonstrated that there is no variability among 12 regional markets in terms of short-term market responses. Furthermore, there is little evidence that these major Asian stock market indices differ significantly from the FTSE All-World Index which might suggest possible spillover impact and co-integration among the major Asian capital markets. The study further discovers that market capitalization and liquidity did not have any significant impact on market reaction to announcement.Research limitations/implicationsThe study's contribution might have been compromised by the absence of socio-demographic, technical, financial and other significant policy factors from the analysis.Practical implicationsThese findings will be considerably helpful in tackling this unprecedented epidemic issue for personal and institutional investors, industrial and economic experts, government and policymakers in assessing the market in special circumstances, diversifying risk and developing financial and monetary policy proposals.Originality/valueThis paper is the first to examine the effects of local COVID 19 detection announcement on major Asian capital markets. This study will add to the literature by investigating unusual market returns generated by infectious illness outbreaks and the overall market efficiency and investors' behavioral pattern of major Asian capital markets.

TRENDS IN AGRICULTURE TRADE AND THE INFLUENCE OF GLOBAL CRISES ON EXPORT

Agricultural trade in India has recently experienced significant changes as a result of global crisis. The years 2021 and 2022 saw record exports ($50.2 billion) and imports ($32.4 billion). The resulting surplus of $17.8 billion was significantly lower than the surplus of $27.7 billion in the previous record-breaking export year 2013–14. Covid pandemic and Russia Ukraine war had a positive influence on the record exports from India. But the greater increase in imports has partially offset the remarkable expansion in exports. In this context, an attempt has been made to examine the causes of this pattern in India's export of agricultural produces. The study in this regard is significant because, aside from software services, this is one industry in which India has some comparative advantage. The nation must prioritise a stable trade policy, especially for those goods having highest trade potential.

An Introduction to the "Midwest Academy of Management – Leading, Managing and Learning in View of Today's Grand Challenges" Special Issue: JMI

This special issue was developed in collaboration with the 2021 Midwest Academy of Management (MWAOM) Conference in Davenport, Iowa. It is the MWAOMs inaugural special issue with the Journal of Managerial Issuer. The 2021 MWAOM conference theme was Leading, Managing, and Learning in View of Todays Grand Challenges. The last few years have presented many grand challenges, from COVID-19, a national and global racial consciousness awakening, as well as political divide and economic disruptions.

A Moderated-Mediation Model of Work-Family Conflict in the COVID-19 Crisis: JMI

The COVID-19 pandemic and societal mitigation efforts (e.g., mandated quarantine and social distancing) inflicted mental and emotional strain on working parents navigating conflicting demands between the work and non-work interface. This research examines how organizational leaders can help employees cope with the additional stress of the crisis and reduce detrimental outcomes to their careers, families, and organizations. Utilizing stressor-strain theory, this study investigates the relationship between stressors (i.e., work-family conflict and role overload) and strain (i.e., turnover intentions) as a function of a relationally-influenced psychological state (i.e., trust in management) in the context of the COVID-19 crisis. Data analyzed from 393 working adults indicated that trust in management moderated (attenuated) the relationship between role overload and turnover intentions, and the interaction between role overload and trust in management mediated the relationship between work-family conflict and turnover intentions. This moderated-mediation model empirically validates how organizational leaders can help mitigate employee stress induced during crisis situations.

What Members Need in Work Situations: Two Samples of Essential Managerial Leadership Behaviors: JMI

Violent incidents, terrorist attacks, senseless shootings, health issues such as the Coronavirus, and natural disasters call attention to managerial leadership in crisis situations. Yukl and Van Fleet (1982) did the seminal work on this topic extended by Peterson and Van Fleet (2008) and Peterson et al. (2012). More recently, Geier (2016) reported findings based on firefighters while Htway and Casteel (2015) and Kapucu and Ustun (2018) studied public sector organizations. Since these studies all involved nonprofit organizations, an extension to for-profit organizations is warranted. There are differences between profit organizations and not-for-profit organizations (Collins, 2001;Collins, 2005). Because of the goals involved, there may be differences in the managerial leadership behaviors required by these types of organizations. Hannah and Parry (2013) specifically recommend expanding leadership research to many different extreme situations in an effort to understand different managerial leadership behaviors that adapt to varying crisis situations. Two samples reported here identify the critical managerial leadership behaviors desired by for-profit organizational participants in both stable and crisis situations. Finally, implications, limitations, and future research are discussed.

The Effects of COVID-19 on College Students: JMI

Hobfolls (1989) Conservation of Resource (COR) theory was applied in examining the impact of the COVID-19 pandemic on college students. In spring 2021, business school students completed an online survey measuring their experience during the global COVID-19 pandemic. In support of COR theory, results demonstrated that students with lower resources (i.e., lower socioeconomic status) reported significantly more resource loss;increases in resource loss were significantly associated with increases in stress;and stress was significantly and negatively related to physical health, psychological health, and well-being. Reevaluation of resources served as a buffer in the relationship between resource loss and stress. Examining an impacted sample of students during a global pandemic allows a better understanding of the interplay of resources, stress, and outcomes. Theoretical and applied implications are discussed for future research.

Learning to Contract under Uncertainty in Strategic Alliances: The Co-evolution of a Firm's Absorptive Capacity: JMI

Firms have often used strategic alliances as a strategy to cope with increased uncertainty. This paper argues that a firm needs to learn to leverage its absorptive capacity to exploit and explore the contracting knowledge in strategic alliances so as to enhance efficiency, scope, and flexibility. It conceptually examines how a firm's contractual absorptive capacity co-evolves with its knowledge environment under uncertainty as part of learning. By integrating transaction cost economics and absorptive capacity literatures, this paper offers a rich picture of the co-evolutionary processes underlying contractual absorptive capacity in strategic alliances under uncertainty. It also incorporates a more refined (and underexplored) conceptualization of asset specificity and uncertainty, two key constructs in transaction cost economics, into the coevolutionary framework of absorptive capacity in strategic alliances. It illustrates some of the concepts with examples from the hospitality industry, where the impact of uncertainty is clearly evident - particularly in view of the COVID-19 pandemic.

Coordination in a not-for-profit organisation during the COVID-19 pandemic: organisational sensemaking during planning meetings

PurposeThe authors examine how a not-for-profit organisation (NPO) coordinates NPO's actions during the coronavirus disease 2019 (COVID-19) global pandemic to remain focussed on strategic and operational goals.Design/methodology/approachThe authors conducted a live case study of an NPO as the crises caused by the COVID-19 pandemic unfolded. Drawing on a sensemaking perspective that incorporates sensegiving, the authors develop a framework of five types of organisational sensemaking. The authors analyse weekly planning meetings during which managers discussed past performance, forecast performance and the forecast duration of current cash reserves.FindingsThe authors show how three of the five types of organisational sensemaking helped to coordinate actions. The authors highlight how accounting information triggers organisational sensemaking processes;but depending on the type of organisational sensemaking, accounting information has little further role. The authors also show that the stability of decisions depends on the types of organisational sensemaking.Practical implicationsThe authors show how coordination as a management control practice is enabled by organisational sensemaking within an NPO during a crisis. Organisational sensemaking enabled the agreement of actions, which enabled coordination. Accounting practices provided trigger mechanisms to facilitate organisational sensemaking.Originality/valueSince this study is the first to examine sensemaking processes and accounting practices in coordination in an NPO in a pandemic, the authors contribute to the limited research on NPOs during crises and on the management control practice of coordination. The authors extend the accounting literature on sensemaking by showing that, whilst accounting triggers organisational sensemaking, accounting is only implicated in one type of organisational sensemaking and by revealing the different outcomes of the different types of organisational sensemaking.

How Governance Indicators Affect Foreign Ownership in the Middle East Equity Markets

The governance indicators of any country may reflect how safe is it to invest in its markets. The question is whether these indicators are being considered by foreign investors in the stock markets. A quantitative approach was used in this study to answer this question and explore how governance indicators can affect the size of the foreign ownership in the stock markets of the Middle East. The study covered the period from 2010 to 2019 excluding the time of financial crisis and the time of COVID-19. The collected data were analyzed using ordinary least squares method. Study results revealed that foreign investors in the stock markets of the Middle East do not consider governance indicators when taking their investment decisions because the foreign ownership in the equity markets was not affected by the governance indicators even when testing each country and each indicator individually.

Tax literacy: what does it mean?

PurposeThis paper aims to identify the competency domains to be included in a conceptual framework for tax literacy.Design/methodology/approachUsing a qualitative approach, this study expands on the current understanding of the competency areas of tax literacy. A dual-purpose literature review was, therefore, conducted. The literature review first provided the body of knowledge that underpinned the study and second, the key data concepts for the draft competency structure to determine whether there is consensus on an international (supra) level. The literature review was supported by an interactive qualitative analysis to further present the concept of tax literacy from the perspectives of various national stakeholders in an emerging economy. Accounting and public finance educators from a higher education institution, as well as financial advisers as representatives of a profession with a direct interest in tax-related matters, were considered.FindingsAlthough a discipline lens seems to strongly influence the previous authors' view of what tax literacy means, it was possible to identify certain tax literacy competency domains that should be included in a taxpayer education curriculum. These content domains consist first of a knowledge domain which includes disciplinary, interdisciplinary, epistemic and procedural knowledge components. Second, the skills domain should include components of cognitive and meta-cognitive, social and emotional, as well as physical and practice skills. Third, personal and societal attitudes and values represent the third domain. Fourth, transformative competencies such as value creation, taking responsibility and reconciliation attributes are important. Finally, core foundational competencies, such as numeracy and literacy should be in place.Practical implicationsThe draft conceptual framework for tax literacy could serve as the foundation for the further development of a tax literacy measurement instrument, as well as tax education courses.Originality/valueA more holistic conceptual framework for tax literacy, portraying the multidimensional nature of taxation, is presented in contrast to the limited one-dimensional position presented up to now.

The COVID-19 Influence on the Global Business Environment Research: JMI

(2021) discuss how supply chain management systems can survive during the global pandemic crisis. See, for example, the impact of the pandemic on the role of operations management (Gupta et al., 2021), marketing management (Syaifullah et al., 2021), financial management (Vasileiou, 2021), human resource management (Onwuegbuna e,t al., 2021), and organizational entrepreneurship and creativity (Thukral, 2021). "The Business Model of Sustainable Competitive Advantage through Strategic Leadership Capabilities and Knowledge Management Processes to Overcome COVID-19 Pandemic."

Single Audits Are Not What They Used to Be: Certified Public Accountant

Single Audits Pre-COVID-19 The Single Audit Act requires that audits be performed annually, except for certain entities that have been grandfathered in for biennial audits, on behalf of all federal agencies by independent accounting firms or by individual states' internal auditors. Most of these awards were granted in 2021;however, this program was not included in the 2021 OMB Supplement. [...]auditors had to determine which compliance requirements needed to be tested using Part 7 and Part 3 of the supplement. Typically, the audit threshold for a single or program-specific audit of federal awards is based on expenditures. Because for-profit entities are not required to adhere to the audit requirements in 2 CFR Part 200, the SBA has the flexibility to define audit requirements and thresholds specific to the SVOG program. [...]the SBA has defined the audit threshold for a for-profit entity that has received an SVOG award based on the GAAP principle of revenue recognition, specifically applied to recognition of an SVOG award.

South African government palliative funds for SMMEs during COVID-19: challenges of implementation and suggestions for improvement

Purpose: The implementation of the lockdown on 28th March 2020 due to the COVID-19 pandemic disrupted business and economic activities completely, which has serious consequences for SMME survival in South Africa and the world at large. Subsequently, there was a contingent need to provide funding to SMMEs to ensure their survival. This study, therefore, explored the meaning of SMME in the South African context and their experiences during the COVID-19 pandemic. The study further investigated the palliative funds given to SMMEs during COVID-19 by the South African government, the challenges encountered during its implementation process, and the measures to improve the funding implementation. Methodology: The study adopted a qualitative research approach with an exploratory research design, and this enhanced in-depth findings through the adoption of interviews as the only source of primary data collection. Data collected from the participants were analyzed using a thematic analytical technique with the help of Atlas-ti software (Version 22). Findings: Findings obtained from the study revealed that SMMEs are separate and distinct business entities, including co-operatives and non-governmental organizations (NGOs), managed by one or more owners, including their branches and subsidiaries. Another finding revealed that during the COVID-19 period, SMMEs experienced supply chain disruptions, inventory shortages, cash flow issues, and low income due to the inability to engage in active business. In the empirical study, participants attested that the scoring system, lack of business and managerial experience, communication barriers, and business registration requirements are some of the challenges encountered in funding implementation by the government departments. Furthermore, the participants highlighted that funding based on merit, consideration of the scoring system, and the application of communication dynamics to reach SMMEs should be applied to improve SMME funding implementation. Originality/Value: This study is meant to inform the government on how to handle SMME funding and measures to assist them to enhance employment and to improve economic development.

Financial Reporting Quality during COVID-19: Certified Public Accountant

[...]the length of recovery for the industry should be considered. [...]as companies modify their business models and cost structure, some changes have become permanent and thus recurring. What role can auditors play regarding non-GAAP reporting? Because standards do not require auditors to issue formal opinions on non-GAAP measures, companies therefore need to rely on audit committees. In particular, item 303(a) was added to describe the principal objective of MD&A, stating "the discussion and analysis must focus specifically on material events and uncertainties known to management that are reasonably likely to cause reported financial information not to be necessarily indicative of future operating results or of future financial condition."

The impact of COVID-19 pandemic on the volatility of conventional and Islamic stock indexes: a comparative study on ASEAN and GCC countries

PurposeThe purpose of the study is to adopt Morlet's wavelet method to examine the differences in the level of volatility (i.e. riskiness) between the conventional and Shari'ah indexes during the COVID-19 pandemic (February 4 to June 19, 2020) on selected Association of South East Asian Nation (ASEAN) and Gulf Cooperation Council (GCC) countries. As a comparison, the equivalent time period of relative tranquillity is used;February 4 to June 19, 2019.Design/methodology/approachMorlet's wavelet method is used in analyzing the volatility levels for both the conventional and Shari'ah indexes before and during the COVID-19 pandemic for the selected ASEAN and GCC countries.FindingsThis study has several findings;first, the markets in the ASEAN region appear to be more volatile during the pandemic than in the GCC region. Second, most of the Shari'ah indexes were more volatile during the COVID-19 pandemic than their conventional counterparts. Nevertheless, the GCC index pairs appear to show more similarities between both the Shari'ah and conventional index.Practical implicationsThe findings from this study indicate that investors, government, regulators and all other stakeholders should stay vigilant during a pandemic or health threat period as it has become a pertinent source of volatility spillovers. As such, investors should devise optimal asset allocation strategies, portfolio diversification and portfolio rebalancing measures, taking into consideration not only financial adversity but also public health gravity as a potential source of turbulent markets.Originality/valueThis study uses the wavelet method to examine the volatility level of both the Shari'ah and conventional indexes during the COVID-19 pandemic and its equivalent time frame in 2019. It has further added to the Islamic literature by comparing the volatility between selected ASEAN and GCC countries. The wavelet method is most appropriate for short-duration studies as it captures both the time and frequency domains of the time-series behavior.