Do the same executive compensation strategies and policies fit all the firms in the banking industry? New empirical insights from the CEO pay–firm performance causal nexus

Olaniyi, Clement Olalekan

doi:10.1002/mde.3934

Cited by 10 publications

(10 citation statements)

References 144 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The four different tests are examined to ensure the robustness of the findings (Olaniyi et al. , 2022; Olaniyi, 2023). The results of the tests are presented in Table 2.…”

Section: Discussion Of Empirical Findingsmentioning

confidence: 99%

“…, 2023c; Yıldırım et al. , 2023; Olaniyi, 2023). Two , asymmetric causality, as developed by Hatemi-j (2012) within bivariate causality, reveals hidden causal inferences among all possible pairs of positive and negative shocks.…”

Section: Methodology and Data Sourcementioning

confidence: 99%

“…Four , the Dumitrescu and Hurlin (2012) causality technique used in this work was designed to pair variables to determine underlying causality (see Lopez and Weber, 2017; Olaniyi, 2023; Uzar et al. , 2023; Olaniyi et al.…”

Section: Methodology and Data Sourcementioning

confidence: 99%

“…Existing research on the poverty-inflation nexus has ignored the possibility of cross-sectional dependence in their time series and panel analyses, according to a broad review of the literature. Globalization has made the world’s economies intertwined across borders (Olaniyi, 2022, 2023; Hatemi-J, 2020 a, b; De Hoyos and Sarafidis, 2006). As a result of globalization and financial contagion, cross-sectional interdependence between nations is becoming the norm rather than the rare case (Meo et al.…”

Section: Introductionmentioning

confidence: 99%

“…This method considers panel causality and generates findings for each cross-sectional unit. Unlike previous studies’ methods, this approach is flexible, and it gives more information on causal inferences by allowing policy to vary across cross-sections (countries) in a panel framework (Olaniyi, 2023; Olaniyi et al. , 2023c).…”

Section: Introductionmentioning

confidence: 99%

See 4 more Smart Citations

Inflation-poverty causal nexus in sub-Saharan African countries: an asymmetric panel causality approach

Olaniyi,

Odhiambo

2024

ITPD

Self Cite

View full text Add to dashboard Cite

PurposeThis study examines the roles of cross-sectional dependence, asymmetric structure and country-to-country policy variations in the inflation-poverty reduction causal nexus in selected sub-Saharan African (SSA) countries from 1981 to 2019.Design/methodology/approachTo account for cross-sectional dependence, heterogeneity and policy variations across countries in the inflation-poverty reduction causal nexus, this study uses robust Hatemi-J data decomposition procedures and a battery of second-generation techniques. These techniques include cross-sectional dependency tests, panel unit root tests, slope homogeneity tests and the Dumitrescu-Hurlin panel Granger non-causality approach.FindingsUnlike existing studies, the panel and country-specific findings exhibit several dimensions of asymmetric causality in the inflation-poverty nexus. Positive inflationary shocks Granger-causes poverty reduction through investment and employment opportunities that benefit the impoverished in SSA. These findings align with country-specific analyses of Botswana, Cameroon, Gabon, Mauritania, South Africa and Togo. Also, a decline in poverty causes inflation to increase in the Congo Republic, Madagascar, Nigeria, Senegal and Togo. All panel and country-specific analyses reveal at least one dimension of asymmetric causality or another.Practical implicationsAll stakeholders and policymakers must pay adequate attention to issues of asymmetric structures, nonlinearities and country-to-country policy variations to address country-specific issues and the socioeconomic problems in the probable causal nexus between the high incidence of extreme poverty and double-digit inflation rates in most SSA countries.Originality/valueStudies on the inflation-poverty nexus are not uncommon in economic literature. Most existing studies focus on inflation’s effect on poverty. Existing studies that examine the inflation-poverty causal relationship covertly assume no asymmetric structure and nonlinearity. Also, the issues of cross-sectional dependence and heterogeneity are unexplored in the causal link in existing studies. All panel studies covertly impose homogeneous policies on countries in the causality. This study relaxes this supposition by allowing policies to vary across countries in the panel framework. Thus, this study makes three-dimensional contributions to increasing understanding of the inflation-poverty nexus.

show abstract

“…The four different tests are examined to ensure the robustness of the findings (Olaniyi et al. , 2022; Olaniyi, 2023). The results of the tests are presented in Table 2.…”

Section: Discussion Of Empirical Findingsmentioning

confidence: 99%

Section: Methodology and Data Sourcementioning

confidence: 99%

Section: Methodology and Data Sourcementioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 3 more Smart Citations

Inflation-poverty causal nexus in sub-Saharan African countries: an asymmetric panel causality approach

Olaniyi,

Odhiambo

2024

ITPD

Self Cite

View full text Add to dashboard Cite

show abstract

Do institutional quality and its threshold matter in the sensitivity of the renewable energy transition to financial development? New empirical perspectives

Olaniyi,

Al‐Faryan,

Ogbaro

2023

Int. J Fin Econ

View full text Add to dashboard Cite

The transition to renewable energy is critical for environmental sustainability, consistent with sustainable development goals (SDGs) 7, 8, 11, 12, and 13 of the United Nations Development Programme (UNDP). Scholars have identified financial development and institutional quality as significant factors determining the renewable energy transition in developing countries. This study opines that the efficiency of the financial system in supporting and providing the substantial financial implications that a switch to renewable energy necessitates depends on the quality of the institutional framework. Weak institutions in developing countries produce loopholes and inherent flaws in the financial system that facilitate corruption and opportunism, ultimately promoting dirty energy usage and technology at the expense of renewable energy. This process suggests that the interaction between financial development and institutions can either accelerate or impede the transition to renewable energy, depending on an economy's institutional architecture. Considering Africa's enormous renewable energy resources, previous research has overlooked the implications of the interplay between institutional quality and financial development in spurring Africa's transition to renewable energy. Thus, this study looks at the role of institutions in moderating the relationship between financial development and renewable energy in Africa from 1990 to 2019, using first‐ and second‐generation estimators to capture econometrics' pitfalls such as endogeneity, cross‐sectional dependence, and heterogeneity inherent in the panel dataset. This study departs from previous research in that it uses a dynamic panel threshold to determine the threshold of institutions beyond which financial development is stimulated to spur Africa's transition to renewable energy. The findings show that institutions create loopholes that allow rent‐seeking, opportunism, and sharp practices in the African financial system. These inherent flaws divert financial resources to support dirty energy and undermine the financial sector's ability to support a renewable energy transition on the continent. Also, the findings from the threshold of institutions affirm that African countries operate predominantly below the threshold of institutions, over which institutions enable financial development to expedite the continent's transition to renewable energy. The study suggests that institutional quality is essential in the relationship between financial development and Africa's shift to renewable energy. The findings' policy implications are discussed and outlined.

show abstract

Does economic complexity provide antidotal pathways to evade the resource curse syndrome? A novel role for institutions

Olaniyi,

Odhiambo

2024

Sustainable Development

View full text Add to dashboard Cite

This study offers the first empirical attempt to examine the role of institutional quality in influencing the contribution of economic complexity to evading resource curses and reducing resource dependency in resource‐rich countries. We analyze data from 20 resource‐rich African countries covering the years 1995–2021, using fully modified ordinary least squares, a Driscoll–Kraay nonparametric covariance matrix, and the method of moments‐quantile regression. These countries predominantly suffer from resource curses, resource dependence, weak economic complexity, and deficient institutions. The findings reveal that economic complexity has no direct potency to spur less reliance on natural resources and mitigate resource curses. Institutional quality, on the other hand, creates stimuli and technical support that facilitate less resource dependence and offer countermeasures to evade resource curses in resource‐rich African countries. Interestingly, institutional quality strengthens economic complexity by increasing knowledge‐based productive capacity, technological innovation, extending non‐resource sectors and exports, promoting innovative business opportunities, fostering entrepreneurship, diversifying economies, reducing resource dependence, and mitigating resource curses. The study concludes that institutional quality enables economic complexity to spur less reliance on natural resources and pave the way to evade resource curses in resource‐rich African countries. The primary policy implications of the study suggest that the capacity of resource‐rich African countries' economic complexity to reduce resource dependence and provide strategies to circumvent the resource curse is contingent upon the efficiency and effectiveness of their institutions.

show abstract

Do the same executive compensation strategies and policies fit all the firms in the banking industry? New empirical insights from the CEO pay–firm performance causal nexus

Cited by 10 publications

References 144 publications

Inflation-poverty causal nexus in sub-Saharan African countries: an asymmetric panel causality approach

Inflation-poverty causal nexus in sub-Saharan African countries: an asymmetric panel causality approach

Do institutional quality and its threshold matter in the sensitivity of the renewable energy transition to financial development? New empirical perspectives

Does economic complexity provide antidotal pathways to evade the resource curse syndrome? A novel role for institutions

Contact Info

Product

Resources

About