Browsing by Subject "Africa"

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  • Larson, Paul D. (2019-12-19)
    Purpose – The purpose of this paper is to develop and test theory-driven hypotheses on the influence of corruption and gender inequality on logistics performance. Design/methodology/approach – This paper develops hypotheses based on a review of the literature and theory linking corruption, gender inequality and logistics performance. Testing the hypotheses draws on the following secondary data sources: the World Bank Logistics Performance Index, Transparency International’s Corruption Perceptions Index and the United Nations Development Programme Gender Inequality Index. Regression analysis is used to test the hypotheses. Findings – A significant direct effect is evident between corruption perceptions and perceived logistics performance. Corruption is detrimental to logistics. Further, there is evidence of an indirect effect, via gender inequality. Gender inequality is also linked directly to lower logistics performance. Gross domestic product/ capita enters the analysis as a control variable. Research limitations/implications – While the analysis uses secondary data, sources are credible and their methods – while not perfect – are logical and appear to be reasonable. It is possible that excluded variables could further explain the relationships under study. This implies future research opportunities, perhaps involving case studies of specific nations. Practical implications – The results should inspire businesses, non-governmental organizations and governments to invest in, aid, advocate for and legislate toward greater gender equality – and against corruption. Logistics educators have an important role in disseminating this message. Social implications – Gender inequality and corruption are current, global social issues. Moving forward toward equality and away from corruption are the right moves. Such moves appear to also yield better logistics. Originality/value – This paper is among the first linking corruption and gender inequality to logistics performance. It shows how social issues impact logistics performance at a national level.
  • Lundqvist, Alex; Liljeblom, Eva; Löflund, Anders; Maury, Benjamin (2019-07-24)
    Purpose The cultural and legal differences between foreign acquirers and African target firms can be substantial. There is also a large variation in cultures and legal systems within Africa. However, there is limited research on merger and acquisition (M&A) performance by foreign firms in Africa. The purpose of this paper is to fill this gap by exploring the “spillover by law” hypothesis (Martynova and Renneboog, 2008) that focuses on the influence of the external environment on the governance and performance of foreign M&As in Africa.   Design/methodology/approach The data set covers 415 M&A transactions by foreign firms in Africa during the period of 1999–2016. Dynamic data covering the country’s legal, cultural and political environment are collected from the World Bank, the Heritage Foundation and Transparency International.   Findings The authors find that the legal environment significantly affects the returns of bidders on African firms. For complete acquisitions, bidder returns are significantly higher when the bidder’s country has higher shareholder protection and higher creditor protection compared with the target firm’s country. The results show that the effects are significant when there is a full control change (including a change in the target firm’s nationality) but not in the case of partial control transfers. The results are consistent with the “spillover by law” hypothesis.   Originality/value The authors contribute to the literature on cross-border M&As by separately studying the valuation effects of full, majority and minority changes in control; by being the first study of the legal spillover effects in Africa; and by being the most extensive study of the legal determinants of the valuations of non-African acquirers of African firms.