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PurposeThis study aims to investigate the relationships between loan growth, loan losses and net income after the 2008 global financial crisis. This study further conducts a comparative analysis by considering the period of COVID-19. Design/methodology/approachThis study uses panel data models such as one-step system GMM, random effects, fixed effects and OLS, with a data set of 131 Chinese commercial banks from 2009 to 2020. FindingsThe study finds no significant relationship between loan growth and future loan losses. However, after adjusting loan loss by net interest income (NII-adjusted loan loss), the study reveals that loan growth in the subsequent year decreases if NII-adjusted loan loss increases. The study also demonstrates the positive effect of loan growth on net income as newly expanded loans are funded at similar costs but offered at a lower rate compared with existing loans. During COVID-19, loan growth and net income were higher than in previous years. Originality/valueThe findings suggest that Chinese banks can increase lending to support the economy without sacrificing loan quality, emphasizing the importance of maintaining and enhancing credit policies and practices. Chinese banks should also continue to refine their pricing strategies for loans and deposits. The findings also imply that China's policy responses to the impact of COVID-19 could serve as lessons for future policy decisions.
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Drawing on Miller and Le Breton-Miller's (2005 & 2022) conceptualization of family firms' priorities (continuity, community, connections, and command) and the organizational psychological capital theory (Luthans and Youssef, 2004), we develop a mediation model of how organizational psychological capital and family firm image affect resilience capability and risk taking (which in turn influence resilience). This model is tested on 200 family-owned small and medium sized (SME) hotels in Turkey. Our study demonstrates that intangible forces can be differentially leveraged to build resilience capability. This in turn strengthens resilience in firms confronting the Covid crisis. This paper further highlights that while the development of capabilities and strategic actions is important in generating firm resilience, the assets that are used to achieve this outcome matter the most. © 2023 Elsevier Ltd
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PurposeThis study aims to investigate the impact of risk-taking and auditor characteristics on value creation in companies listed on the Tehran Stock Exchange. In addition, it investigates the moderator role of auditor characteristics in the impact of risk-taking on value creation, especially in pre-Covid 19 and post-Covid 19 pandemic.Design/methodology/approachThe information about 199 company in 2014–2021 was examined. In the present study, in accordance with the related theoretical literature and the importance of auditor specialization, auditor tenure and auditor reputation, these factors were considered as the auditor characteristics.FindingsThe present findings based on the generalized least squares (GLS) method showed that risk-taking positively affects the value creation. The auditor characteristics (auditor specialization, auditor tenure and auditor reputation) have a significant positive effect on the value creation. Furthermore, the auditor characteristics enhance the impact of risk-taking on value creation. The results of generalized method of moments method and robust regression analysis are consistent with the GLS results. To take into account the Covid-19 conditions, the data were divided into pre-Covid-19 and post-Covid-19 years. The results showed that auditor characteristics moderate the impact of risk-taking on value creation in pre-Covid 19 and post-Covid 19.Originality/valueThe study highlights the role of auditor characteristics in the value creation, especially in the emerging market. Given that Covid-19 has seriously damaged global economic well-being and has put companies at a double risk, the present findings can be useful for managers, investors and the international community, and help company managers make risk-taking policies and select auditors with appropriate characteristics.
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The field of infant mental health is growing exponentially and many practitioners from a range of professional disciplines are desiring to grow their expertise to work with infants and young children. In that, practitioners are searching for new therapy strategies to intervene with parents and infants. As the growing interest in nature-based therapies increases, many practitioners are thinking about how to incorporate nature approaches for the youngest of clients. After the crisis of the COVID-19 pandemic and the healing benefits of nature came more to the forefront of awareness, the association began to widen their definition and recognized that infant mental health was supported by connection to nature overall-beyond just the physical health benefits. At birth, infants have garnered millions of nerve connections that are chemically ready to encode sensory input. The chapter presents a case study that examines how nature can provide a rich growing experience for a mother-infant relationship where they can develop and optimize their wide-range sensory systems and coregulate interrelational experiences while also exploring the boundaries of autonomy, attunement, risk taking, and safety within a series of therapist directed nature-based play therapy interventions. (PsycInfo Database Record (c) 2023 APA, all rights reserved)
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COVID-19 pandemic can affect people using HIV preexposure prophylaxis (PrEP). To assess its consequences on PrEP users' sexual behaviour and welfare, we conducted a mixed-method study. A self-administered questionnaire was given to PrEP users during scheduled consultation in Tourcoing Hospital from February to May 2021. In addition, a qualitative study included 14 participants who took part in semi-structured in-depth interviews (IDIs). Ninety-four PrEP users completed the questionnaire. During lockdown, 62% of participants continued PrEP. After lockdown release, the average number of sexual intercourses and partners increased from 6 ± 12 to 13 ± 17 intercourses/month (p < 0.001) and from 3 ± 11 to 11 ± 34 partners/month (p < 0.001). Similarly, the proportion of PrEP users who engaged in group sex, sex with alcohol or chemsex increased respectively from 28% to 55% (p < 0.001), 28% to 45% (p < 0.001) and 28% to 38% (p < 0.001). Analysis of IDIs revealed emotional deprivation and sexual frustration during the lockdown. After its release, frequent clandestine chemsex parties and curfew forcing overnight stay increased fears of intimate violence and overdoses. In conclusion, PrEP users reduced their sexual activity during the lockdown. Its release led to an increase in sexual risk-taking. Social distancing measures could favour medical and social harm of sexual risk-taking.
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Changes in human behaviour are a major determinant of epidemic dynamics. Collective activity can be modified through imposed control measures, but spontaneous changes can also arise as a result of uncoordinated individual responses to the perceived risk of contagion. Here, we introduce a stochastic epidemic model implementing population responses driven by individual time-varying risk aversion. The model reveals an emergent mechanism for the generation of multiple infection waves of decreasing amplitude that progressively tune the effective reproduction number to its critical value R = 1. In successive waves, individuals with gradually lower risk propensity are infected. The overall mechanism shapes well-defined risk-aversion profiles over the whole population as the epidemic progresses. We conclude that uncoordinated changes in human behaviour can by themselves explain major qualitative and quantitative features of the epidemic process, like the emergence of multiple waves and the tendency to remain around R = 1 observed worldwide after the first few waves of COVID-19.
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Aim: Examining the success of women's entrepreneurship, during and after Covid-19 pandemic, in South India. Methodology: The study adopts the quantitative method. Data is acquired through 'survey' as the tool. The regression and percentage analysis are used for examining the data with SPSS as software. The targets are the women entrepreneurs (SMEs) in South India. The sample size (n) is 254. Association of the variables is found through hypothesis testing. Findings: The outcome from analyses indicates both internal and external factors impact the success of women entrepreneurs in India amid Covid-19. More than external factors, during Covid-19, the motivation, need-for-achievement, self-confidence and risk-taking were found to be more impactful in a woman entrepreneur's success. Value/Originality: The paper examined and investigated the impact of Covid-19 on women entrepreneurs and found that technological implications in businesses and social networking in entrepreneurship during Covid-19, highly assisted the women entrepreneurs and supported their sales and operations which the traditional business lacked and was limited during Covid-19. Conclusion: Research concluded that internal and external factors indeed impact the small-and-medium entrepreneurs where during the Covid-19, internal factors impacted more than external factors. Though external factors like socio-cultural and economic hindrances impacted the women entrepreneurs, the willingness, risking capability and level-of-confidence to compete and survive was found to be the key drivers that kept the women entrepreneurs to sustain.
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A comparative vignette-based experimental survey design incorporating various socio-psychological factors, linked to the Theory of Planned Behavior (TPB), the Health Belief Model (HBM) and the Domain-Specific Risk-Taking scale (DOSPERT) was carried out to test variations in eight travel-related COVID-19 protective measures on Swiss tourists' travel intentions. Among the tested measures, vaccination passports, surgical masks and quarantining are those that stand out the most, with surgical masks having the greatest acceptance and willingness to adopt while traveling. Quarantining, on the other hand, appears to have a deterrent influence on travel intentions, and vaccination passports have the lowest perceived barriers during travel, but the highest perceived benefits in mitigating the spread of the infection. The discussion of individual differences has specific implications for tourism management against the background of our empirical findings.
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Due to the risk of COVID-19, the 2020 Tokyo Olympic Games were staged without spectators for the first time in modern Olympic history. Health risks, including pandemics such as COVID-19 and SARS, have caused a serious concern for event participants, stakeholders, and tourists. While seeking information on risks posed by particular destinations is an essential step when making travel decisions, especially during a pandemic, there is limited sport tourism research that scrutinized the relationship between prospective travellers' health risk perceptions in the specific context of COVID-19. This article examines the relationship between prospective spectators' risk perception toward COVID-19 and their information-seeking about the virus, with a specific focus on the moderating effect of spectators' risk-taking tendency in the context of their intention to attend the Games. The study involved a survey of 240 South Korean and 286 American prospective spectators. Prospective spectators perceived COVID-19 as a source of severe risk, significantly decreasing their intention to travel to the destination. This study found positive associations between COVID-19 risk perception and information-seeking and between information-seeking and intent to attend. The results imply that information-seeking regarding the pandemic in the host region is an important predictor of prospective spectators' attendance because seeking information demonstrates an intention to attend despite a perception of high risk. Furthermore, this paper makes a cross-national comparison of the implications of the moderating role of an individual's risk-taking tendency. © 2023 Informa UK Limited, trading as Taylor & Francis Group.
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This study focuses on the fear of failure (FF) in entrepreneurship and its effect on the entrepreneurial orientation (EO) as a strategic orientation in firms. There has been much research on EO as a predictor of organizations' performance since it is considered a manifestation of the entrepreneurial direction inside the organization. Yet, the research on the relationships between individual-level variables and EO itself still has room for contribution, especially the internal aspects related to the entrepreneur or the manager. Therefore, this research aims to explore FF in entrepreneurship and its inhibiting and motivating roles. In addition, given that the firm is the unit of analysis in this study, this research explained how an entrepreneur's FF affects the EO of the firm amidst the COVID-19 outbreak. The study administered a quantitative research design using a structured questionnaire. The results showed a positive influence of the entrepreneur's fear of failure on the firm's entrepreneurial orientation manifested in the firm's innovativeness dimension. However, the other two dimensions that contribute to the firm's EO representation (proactiveness & risk-taking) showed insignificant relationships with the entrepreneur's FF. © 2022, Academic Conferences and Publishing International Limited. All right reserved.
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This study explores relationships between Corporate Frugality (CF), Entrepreneurial Orientation (EO) and Crisis Preparedness (CP). CP was proposed as the surrogate measure for firm performance during actual crises. EO is also examined as a potential mediator in the CF-CP association. The hypotheses were tested using partial least squares structural equation modeling with data collected from randomly selected small businesses operating in the Tripolitania region of northwestern Libya during the current economic instability caused by civil unrest. Further, COVID-19 pandemic cases had significantly risen among the population at the time of the study. The findings show that CF can be instrumental in responding to market crisis requirements, while innovativeness only results in better CP and partially mediates the CF-CP association. These findings validate the CF construct, but entrepreneurs must cautiously proceed when exercising EO in response to crises. Furthermore, the study casts new light on how the association between EO dimensions and performance can differ across contexts. Building on the resource-based view and pecking order theory and integrating them with contingency theory, this study is the first to explore the effect of EO and its dimensions as the mediator between CF and CP. © 2023 World Scientific Publishing Company.
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Purpose: This research aims to determine the impact of the CEO's risk-taking tendencies and the transformational leadership style on the use of the management accounting system information, as well as the mediating impact of product creativeness and organizational citizenship behavior in this context. It also provides empirical evidence from Vietnamese enterprises. Design/methodology/approach: The current research was conducted using quantitative methods. It was conducted during the ongoing Covid-19 pandemic in Vietnam. The study population is represented by all of the Vietnamese enterprises listed on stock exchanges. Therefore, an online email questionnaire was used for data collection. Specifically, 670 emails were sent to CEOs and 146 complete responses were collected (21.79% rate). Findings: By using the partial least squares structural equation modeling (PLS-SEM), the study results show that the CEO's risk-taking tendencies and transformational leadership style have a significant positive effect on the use of the management accounting system information. Additionally, product creativeness mediates the relationship between the CEO's risk-taking tendency, and the use of the management accounting system information. Also, organizational citizenship behavior mediates the relationship between transformational leadership style and the use of the management accounting system information. Research limitations/implications: Despite attempts to overcome by GDP contribution ratio, convenience sampling tends to cause common method bias. Furthermore, small sample sizes can lead to heterogeneity and unstable estimates of the parameter. Causality issues may also arise because the model has no control variables. Therefore, later studies should take the necessary additional steps when sampling to stay consistent with the study population, possibly conducting surveys in several batches to determine the correlation between changes in variables, and allowing the ability to discover and add any necessary control variables. Originality/value: This research acts as a bridge between management and management accounting, confirming the importance of this combination when efficiently using the management accounting system. © 2023, Emerald Publishing Limited.
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Purpose: This paper aims to examine the relationship between gender diversity and the risk profile of 141 listed banks from 14 emerging countries over the period of 2012–2020. Specifically, this study investigates whether the relationship between gender diversity and banking risk varies between Islamic banks and conventional banks, both before and during the COVID-19 pandemic. The second aim is to investigate whether COVID-19 health crisis moderates the effect of gender diversity on banks' risk-taking behavior within a dual banking system. Design/methodology/approach: This study derives its theoretical foundation from both the token theory and the critical mass theory. Both fixed and random effects are combined to examine the relationship between gender diversity and bank risk-taking in emerging countries. Findings: The results show that female presence on the board of directors reduces banks' financial risk. However, the presence of women continues to positively affect the capital adequacy ratio of large banks. The results also show that the presence of at least two female directors significantly reduces banking risk. The findings support the expectations of the token and critical mass theories. In addition, the presence of female board members, per se, does not influence the risk-taking behavior of Islamic banks. Finally, this study demonstrates that the moderating role of the COVID-19 health crisis is only more effective for large banks than for small ones. The analyses demonstrate good reliability and robustness of the findings of this study. Practical implications: The study provides novel insights for policymakers and practitioners on how female directors impact banks' risk-taking behavior in dual-banking countries. It also contributes to the debate on gender diversity and corporate governance literature, which can help in monitoring bank risk-taking and improving financial stability. Originality/value: This study presents new evidence about the importance of board gender diversity for bank risk-taking in a dual banking system by considering the moderating influence of the COVID-19 pandemic. This study also contributes to the literature on bank risk-taking by applying two measures of gender diversity and a critical mass of women on boards. © 2023, Emerald Publishing Limited.
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This article examines the impact of female independent directors on corporate risk taking during the COVID-19 pandemic. Our findings suggest that there is a negative relationship between female independent directors and corporate risk taking, indicating that female independent directors can effectively lower risks during this period. In addition, it is reported that the negative impact of female independent directors on firm risks is pronounced in the hospitality industry, as well as in regions with higher confirmed cases of COVID-19. Our results call for greater female independent directors' recruitment in the boardroom, yielding benefits of lowering firm risks during a crisis. © 2023 City University of Hong Kong and National Taiwan University.
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By assuming that a risk-neutral hedge fund manager has ambiguous beliefs about the return process of risky asset, we study his robust risk choice under the high-water mark. The results show that without management fees, ambiguity aversion induces the manager to take more risk as the fund is close to the termination but take less risk as the fund approaches the high-water mark. With management fees, ambiguity aversion increases the induced risk aversion and moderates the manager's incentive to take risk, predicting that it is the manager with higher rates of management fees that reduces the risky asset holdings more when he becomes less confident and/or more pessimistic about the future returns. The model implies that managers' ambiguity aversion is a possible factor explaining hedge fund activities in stock markets during the financial crisis of 2007–2009 and in US Treasury markets during COVID-19 crisis. Finally, taxation is taken into account. © 2023, The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature.
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The aim of the present paper is to establish the factorial validity and reliability of the Risk-Taking and Self-Harm Inventory for Adolescents (RTSHIA), proposed by Vrouva and colleagues in 2010, in an Italian sample. The RTSHIA measures both Risk-Taking and Self-Harm behavior in adolescents. We administered the scale to a total of 1292 Italian adolescents from 9th to 12th grade; to verify the validity of the scale, we also assessed emotion regulation and psychopathological traits. The exploratory factor analysis (EFA) (N = 638) and the confirmatory factor analysis (CFA) (N = 660) confirmed the original two-factor structure of the RTSHIA (Risk-Taking and Self-Harm). The only differences in the Italian version of the RTSHIA (RTSHIA-I) were that one item was moved from the original Risk-Taking factor to the Italian Self-Harm factor, and another item that was not included in the original RTSHIA is now part of the Risk-Taking factor in the Italian version. The reliability of the RTSHIA-I is also confirmed, and both factors correlate with emotion regulation and externalizing/internalizing traits. Our results suggest that the RTSHIA-I is a useful tool for assessing Risk-Taking and Self-Harm behaviors in Italian adolescents, and the correlational patterns indicate that these behaviors may be related to difficulties in mentalization skills.
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In 2020, most countries around the world adopted various measures aimed at combating the coronavirus (i.e., COVID-19), or reducing risky behavior which may spread the virus. In the current study (N = 215), we examined compliance with COVID-19 prevention guidelines using a risk-taking perspective, differentiating active from passive risk taking. In the corona context active risk taking involves actions that may cause disease contraction, such as shaking hands, while passive risk taking involves the acceptance of risk brought on by inaction, as in not using an alco-gel disinfectant. We found that personal tendencies for passive and active risk taking predicted passive and active corona related risk taking, respectively. Furthermore, compliance with COVID-19 prevention measures was also related to differences in self-control, with low Initiation self-control predicting passive corona risk taking and low levels of Inhibition self-control predicting active corona risk taking. Thus, while not complying with Covid-19 prevention measures put people at risk, differentiating between active and passive risks is helpful for accurate prediction of each type of risk behavior. (PsycInfo Database Record (c) 2023 APA, all rights reserved)
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PurposeThis paper aims to examine the determinants of entrepreneurial intention among students of a university in Nigeria, with particular emphasis on their risk-taking propensity, social support and demographic variables.Design/methodology/approachData for the study were collected from 350 undergraduates across seven faculties in Obafemi Awolowo University, Nigeria, through a self-reported questionnaire. Descriptive and regression statistical analysis were used to estimate and test the relationship among entrepreneurial intention and social support, risk-taking propensity and demographic variables.FindingsThe results showed high entrepreneurial intention among the students. The push factors, such as perceived social support from families, risk-taking propensity and previous engagement in business, are key determinants of entrepreneurship intention among the students. The age and father's occupation also showed a significant relationship with the level of entrepreneurial intention.Practical implicationsThis result suggests that strengthening social support for entrepreneurship among students could enhance their desire to own a business during and after graduation. Improving entrepreneurship ecosystems in the university could further motivate those already practicing entrepreneurship while also stimulating intentions among others. For instance, provision of entrepreneurship infrastructure and incentives such as business incubators, innovation hubs, science parks and competitive business grants could enhance the risk-taking propensity among students and motivate them for venture creation.Originality/valueUnderstanding the influence of social support and risk-taking propensity on entrepreneurial intention among undergraduates is important for policy and practice. The result further reinforces the need to promote entrepreneurship education to create a critical mass of potential entrepreneurs in the university.
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Both the HIV pandemic and the COVID-19 pandemic have highlighted underlying racial and socioeconomic health disparities in Louisiana, as well as in the United States. Neighborhood factors, such as community violence and social vulnerability, likely play a significant role in these disparities.The goals of this study were to examine the relationship between community violence exposure and HIV sexual risk behaviors and to examine the impact of neighborhood-level social vulnerability on HIV testing practices and COVID-19 incidence.Data from the National HIV Behavioral Surveillance System, the CDC Social Vulnerability Index (SVI) Database, and the Louisiana Department of Health were analyzed. The CDC SVI was used to measure neighborhood-level social vulnerability, which comprises four related factors: socioeconomic status, household composition and disability, minority and language, and housing characteristics and transportation.First, the relationship between community violence exposure and HIV sexual risk behaviors was examined among an age-diverse population of heterosexually active adults. A positive association was observed between community violence exposure and HIV sexual risk behaviors. Gender did not modify this relationship.Second, the relationship between neighborhood-level social vulnerability and recent HIV testing history was examined. Neighborhood-level socioeconomic status was the only social vulnerability factor observed to be associated with recent HIV testing, where individuals residing in lower socioeconomic neighborhoods had lower odds of receiving a recent HIV test than those residing in higher socioeconomic neighborhoods. This association diminished as age increased.Third, the relationship between social vulnerability and COVID-19 incidence during the first six months of the COVID-19 pandemic within Louisiana census tracts was examined. All four factors measuring social vulnerability were found to be associated with COVID-19 incidence;Louisiana census tracts with higher levels of overall social vulnerability exhibited higher levels of COVID-19 incidences. The results of this study provide further evidence that neighborhood characteristics can influence health behaviors (e.g., sexual risk behaviors), access to healthcare (e.g., HIV testing), and health outcomes (e.g., COVID-19 infections). In conclusion, future public health initiatives should focus on identifying and removing barriers to health within identified vulnerable neighborhoods. (PsycInfo Database Record (c) 2022 APA, all rights reserved)