Eurasian Journal of Business and Economics

17

Authors: Burhan KABADAYI

This paper scrutinizes the transformation in the electricity production structures of G7 nations in the wake of the Russian invasion of Ukraine. The inquiry centers on discerning shifts in the trajectory of energy production, particularly toward more sustainable and secure sources. With the imposition of economic sanctions against the Russian economy, an anticipatory transition from combustible fuels to renewable energy sources within G7 countries is envisaged. An empirical investigation is conducted utilizing panel data analysis of energy data across the G7. First and second-generation unit root tests have been used. Cointegration tests and the Vector Error Correction Model have been applied to see short-term and long-term relationships between renewable energy-sourced electricity production and combustible energy-sourced electricity production. Additionally, predictive modeling, employing SARIMA and Machine Learning model (Prophet) with Python, is employed to forecast future trends in energy production. This comprehensive analysis sheds light on the profound impact of geopolitical events on the energy landscape of influential global economies. The results of the econometrics and predictive models show that there is a significant effect of Russia-Ukrainian conflicts on electricity production in favor of more secure and clean energy. This trend change in renewable energy-sourced electricity production should fortify more regulatory aspects.

26

Authors: Navneet KAUR and Ella MITTAL

With the advancement in the economy, females' participation in the workforce is increasing but they are still underrepresented in senior positions. So, understanding their psychological viewpoints about the glass ceiling and its association with subjective career success (SCS) is important. This study aims to illuminate the association between glass ceiling beliefs and subjective career success through social support in the Indian healthcare sector. Social support is taken as a mediator in this study. The mediation and moderation approach was used to test the proposed model of the study. For the study, a sample of 300 doctors working in corporate hospitals was surveyed. Data were analyzed through structural equation modeling in AMOS to understand the relationship of all variables. The results found that social support mediates the relationship between optimistic glass ceiling beliefs and career success. Furthermore, the moderating impact of gender was also examined on the association of glass ceiling beliefs and subjective career success. The present study is the first to examine the connection between glass ceiling beliefs and subjective career success in the Indian Health sector through the mediation of social support and gender. Theoretical and practical implications are discussed.

14

Authors: Chung BAEK

We examine the causal relationships and extreme return co-movements between the Russian stock market and adjacent Eastern European (EE) stock markets before and after the recent Russia-Ukraine war. Considering that the EE stock markets are regarded as a group of emerging markets in the same region for the purpose of investment, we are motivated to identify any change in their relationships after the war because this would be critical in terms of stock portfolio diversification. We find that while the war has a positive impact on the causal relationship between the Russian stock market and the Bulgarian stock market, it has a negative impact on the causal relationships between the Russian stock market and the other EE stock markets. Also, extreme return co-movements between the Russian stock market and the Bulgarian stock market are strengthened after the war whereas those between the Russian stock market and the other EE stock markets are weakened after the war. Our study is expected to provide new insight into stock market participants.

21

Authors: Nereida HADZIAHMETOVIC; Muhammet Sait DINC

The purpose of this study is to examine the impact of knowledge creation and affective commitment on organizational performance. The study also explores the mediating role of affective commitment in this relationship. The results based on the sample of 825 academics and members of the administrative staff at universities from Central and Eastern European countries support the proposed hypotheses of this research. Exploratory and Confirmatory factor analyses were performed to assess the reliability of scales, while structural equation modeling was used to evaluate the hypotheses. This study demonstrates that knowledge creation and affective commitment are predictors of organizational performance. It also shows that affective commitment, which is influenced by knowledge creation, is an important mediating factor that affects organizational performance at public and private universities in Central and Eastern European countries.

1-24

Authors: Navneet KAUR, Ella MITTAL

As females are actively participating in every sector, the obstacles faced by them in their careers attracted the attention of researchers. The main purpose of this study was to systematically review the literature about the glass ceiling in the healthcare sector, published between the years 2000 to 2019, with no geographical limitations. Additionally, the barriers resulting from the glass ceiling were also explored. For this purpose, literature was searched from various databases, and grey literature was also used for the review. After applying all the steps of inclusion and exclusion criteria, a total of 32 studies were evaluated for this paper. Results were obtained by mainly focusing on the existence of a glass ceiling in healthcare and the barriers/factors of the glass ceiling. The findings showed that although the number of females is increasing in the healthcare sector, there is still an underrepresentation of females in senior positions. The existence of a glass ceiling is the main reason for this. The main barriers to the glass ceiling in the healthcare sector that are obstructing the way of females are organizational, societal, and personal. There is a long way to go for females in the healthcare sector.

45-61

Authors: Smita RAMAKRISHNA, Gopalakrishnan KALPAKAM

We examine the impact of the COVID-19 pandemic on the interlinkages between the Indian stock market and some of the largest indices across the world. We compare the co-movements of these stock markets to identify the possibilities for international portfolio diversification. We use the Johansen cointegration technique and Vector Error Correction Mechanism to understand the nature of long-run and short-run cointegration. We also apply the Impulse Response Function to understand the time effects of the shock. The results of the Johansen cointegration test indicate that there is an increased level of cointegration among the stock market indices post the pandemic. Our results of VEC Block Exogeneity Wald Tests indicate that in the preCovid time, there were linkages between the stock markets of India and the U.K., Japan, and Hongkong. However, the post-pandemic results indicate the shock transmission effects from India to two very important European indices, i.e., the U.K. and Euronext stock exchanges, and to the stock market of Japan. We also observe transmission effects from the USA to India post-Covid period.

1-17

Authors: Emrae JUNG, Erhan ATAY

Chinese companies have been heavily expanding their businesses globally during recent decades. In the literature, studies examine the dynamics behind their expansion strategies and build multinational Chinese companies called 'dragon multinationals.’ Pointing out the shortcomings of the ownership-location- internalization (OLI) paradigm to explain the internationalization of these dragon multinationals, the linkage-leverage-learning (LLL) model was introduced by Mathews (2006). It was extended to the inward linkages-outward linkages-leverage- learning (IOL3) model by Lu et al. (2017). This paper aims to investigate forwarded linkages to understand how these linkages are utilized during further expansions of Chinese multinational companies (MNCs) in developing countries. Inward linkages that Geely gained through earlier acquisitions were studied through secondary sources. Then, Geely's latest acquisition of Proton was examined to identify forwarded linkages. Interviews were conducted with the management of Proton and its suppliers to define sources of know-how transferred to Proton and classify them as direct and indirect forwarded linkages.

35-49

Authors: Suadat Hussain WANI

The main objective of the present study is to examine the link between trade openness, capital formation, and economic growth in the case of India by applying an autoregressive distributed lag (ARDL) bound testing approach. To achieve this objective, the trade openness index is developed using various proxies of trade openness. The empirical results indicate negative relation between trade openness and economic growth in case of India, both in the short-run and long-run. The results of the present study have important policy implications for India. Among others, the study suggests that those policies need to be adopted, which can boost human and physical capital formation so that economy can grow to the threshold level required to reap the benefits of trade openness.

67-86

Authors: Zeliha OZDOGAN

Assessing the impact of exchange rate shocks on domestic prices (Exchange Rate Pass-through) has a crucial role, particularly for the inflation targeting countries. This paper aims to clarify some aspects of ERPT to domestic prices in Turkey, an emerging country. Specifically, this study investigates if ERPT in Turkey is complete and how the behavior of ERPT has changed after the adoption of a flexible exchange rate regime in 2001. A Vector Auto Regression (VAR) framework is used to analyze the impact of exchange rate shocks on CPI Inflation. This study provides empirical evidence on the incompleteness and the pattern of ERPT on Turkey’s CPI inflation based on the VAR Model. The findings demonstrate that ERPT is not only incomplete but also has a different pattern during the floating exchange rate period. The pass-through has decreased from 2001 to 2017, and it has increased dramatically after 2017 to a large extent because of very high inflation and high exchange rate volatility in this period.

16

Authors: Anna VYSOTSKAYA

This paper examines how the recognition and spread of the International Financial Reporting Standards (IFRS) have affected accounting practices and accounting education in Russia. We use evidence from Russia as a case study to provide a historical perspective on the changes in its accounting system and analyze the translation and communication difficulties in accounting practices and education. By conducting Russian accounting textbooks’ content analysis, we highlight IFRS translation issues in order to investigate the positional statement of the problems regarding the challenges with IFRS education. We also discover the current difficulties in teaching IFRS-based accounting to non-English speakers. Our findings outline the interrelation between the educational approach and practical applications of the existing knowledge on financial reporting. Finally, this research addresses the nature of the challenges that emerge due to the linguistic translations of the IFRS. We consider this paper will be of particular interest for non-native English-language speakers, including academics, practitioners, and standard setters.

19

Authors: Aparna BHATIA

The paper aims to measure the extent of international diversification achieved by Indian companies in the recent time period. The study also investigates the nature of international diversification of companies during their transition beyond national boundaries. This evaluation of the firm’s nature and extent of internationalization is further extended to cover the period of COVID-19 as well. The Jacquemin and Berry Entropy Approach (1979) is applied to operationalize the firm’s international diversification. It facilitates the measurement of both inter-region and intra-region diversification. World Bank Geographical Region Classification Framework (2018) has been used to facilitate the applicability of the approach applied. Results indicate that Indian companies were inclined to grow beyond their home territories. However, the extent of international diversification is low as ‘Internationally Low Diversification (ILD)’ reveals to be the most popular strategy amongst Indian companies. Nature depicts a preference for relatedness than unrelatedness for overseas expansion as firms prefer intra-region expansion as compared to moving inter-region. Stagnation and halt are witnessed in the global expansion of companies in the period of the pandemic. The present study is novel as it comprehensively evaluates the international growth strategies preferred by Indian companies in the pre-pandemic and the pandemic period.

20

Authors: Mohammad Idris NOORI

Among higher education students, perceived employability gained eminence in the last decades that attracted scholarly interests. Researchers theoretically and empirically studied the perceived employability though; inadequate preliminary review studies exist on this topic. Available researches mostly concentrated on a single approach. Thus, this study carried out a comprehensive review that comprised a systematic literature review (SLR) and bibliometric analysis that might boost understandings in the body of the literature. In the research process, the Scopus database from the 2008 to 2021 periods was used. The researchers set the search criteria that allowed the inclusion of 59 papers published in 45 peer-reviewed international journals. The paramount influential papers and prolific authors formulated the unit of this analysis. Furthermore, for the identification of thematic clusters and creating network maps, VOS viewer software was deployed. Citation analysis, co-authorship analysis, co-citation analysis, and co-occurrence of keywords analysis have generated interesting patterns which articulate the study results. The findings revealed enlightening insights on the content and characteristics of perceived employability, publication trends, highly cited papers, productive authors, contributing countries, repetitive themes, productive journals, and also unveiled gaps providing avenues for upcoming research works.