Whether CEO Succession Via Hierarchical Jumps is Detrimental or Blessing in Disguise? Evidence from Chinese Listed Firms

This study investigates the impact of hierarchical jumps in the CEO’s succession on firms’ financial performance. To contemplate deeply, hierarchical jumps have been categorized into high and low level evaluating the positive impact of high-level hierarchical jump on firms’ performance. Moreover, this study has also formulated hierarchical intensity signifying the idea that despite neglecting senior board members during hierarchical jumps, still marginal increment in the firms’ growth has been observed. Using panel regression technique along with 2sls instrumental regression, this research reveals that hierarchical jumps in CEOs successions are more conducive only if the incumbent CEOs are selected irrespective of age, degree or high hierarchical position within the hierarchical ladder. Lastly, this study enunciates that firms having high total assets boost their performance via hierarchical jumps emphatically

The Repercussions of Economic Growth, Industrialization, Foreign Direct Investment, and Technology on Municipal Solid Waste: Evidence from OECD Economies

The paper’s main objective is to evaluate the repercussions of economic growth, industrialization, and foreign direct investment (FDI) on OECD (Organization for Economic Cooperation and Development) municipal solid waste (MSW) from 2000–2020. Further study includes the role of technology in managing waste activities’ repercussions. We also explore the mediation impact of technology and industrialization with economic growth on the waste of OECD economies. The empirical assessment is carried out in two ways. First, we use graphs to assess the evolution over the years and their association with the core factors. Second, we apply a proper econometrics series to examine the empirical nexuses between the relevant factors. The study finds that economic growth and industrialization evolve over time, increasing the waste of OECD economies. FDI inflow is unfavorable and increases waste production. However, the magnitude impact of FDI is lower than that of economic growth and industrialization. Technological advancement (research and development) is a significant factor in reducing waste generation. The later phase of economic growth is still not advantageous to reduce waste generation in the OECD. The OECD needs to manage industrialization and economic activities through a proper mechanism and tax on such activities that can increase unwanted waste. Further, through technology, the management of waste can be improved

Do Hierarchical Jumps in CEO Succession Invigorate Innovation? Evidence from Chinese Economy

The objective of this study is to analyze Chief executive officer (CEO) succession via hierarchical jumps in Chinese listed firms which orientate towards innovative activity. Good corporate governance is a vehicle to attain the competitive advantage which ultimately makes the organizational sustainability undeterred. The current study will test not only low hierarchical jumps but also medium hierarchical jumps in CEO succession. The study will identify the relationship between specific attributes like education, age and the duality of CEO successors via hierarchical jumps with innovation. We have analysed the data of Chinese listed firms on Shenzhen and Shanghai stock exchanges for the years 2012–2016. Significantly, it has been observed that CEO successors via hierarchical jumps orientate towards innovative activity amongst Chinese listed firms. Conclusively, empirical results have unveiled that hierarchical CEO succession escalates the firms’ innovation. It has also been contemplated that not only the low hierarchical jumps but also medium hierarchical jumps in CEO succession invigorate the organizational innovation. Mature firms with a substantial return on assets or earning per share and having less loan burden concentrate on innovative activity decisively. It has been demonstrated that specific attributes like education, age and the duality of hierarchical CEO successors have no relationship with innovation. The study results are robust via confirmation of 2SLS instrumental regression

Myth or reality? Unveiling the effectiveness of hierarchical CEO succession on firm performance and cash holdings

The objective of the study is to contemplate the effectiveness of hierarchical CEO succession and hierarchical CEO succession intensity on SOEs & Non-SOEs performance separately.  Meanwhile, the impact of hierarchical CEO succession on cash holdings has also been analysed. The authenticated data has been accumulated from CSMAR for the years 2012-2016 contemplating the listed companies (SOE and Non-SOEs separately for performance while overall companies for cash holdings) on Shenzhen and Shanghai stock exchanges. Through categorization of hierarchical CEO succession, it has been signified that middle-level hierarchical CEO succession elevates the SOEs performance. In contrast, middle and high-level hierarchical CEO succession mitigate the cash holdings. Conclusively, earning management as a moderator has been analysed while deducing that hierarchical CEO succession reduces cash holdings despite firms involving earning management activity which is ultimately beneficial for firms’ growth. The empirical results are robust to alternate technique 2SLS instrumental regression that controls for endogeneity

Energy Crisis, Firm Productivity, Political Crisis, and Sustainable Growth of the Textile Industry: An Emerging Economy Perspective

Pakistan’s textile industry is suffering from an electricity shortage and political turmoil. Due to a state of instability in which nothing is certain, things cannot be brought into balance by the state. Therefore, we employ firm-level data (101) to investigate the impact of expected and unexpected power outages on textile firm productivity throughout 2014 to 2019. The study assesses the importance of political stability for the flourishing of Pakistan’s textile sector. Outages were found to significantly negatively impact textile sector sales revenue, likely leading to lower results (by 0.240% and 0.0569%). The duration and frequency of outages had significant adverse influences on reducing firm revenue. It has been estimated that a 1 h outage will cause to loss of revenue of approximately 24 percent. Comparatively, load-shedding hours had a smaller impact on lowering firms’ sales revenues, which were 5% to 8% with and without political stability inclusion. Further, outage hours decreased the export of textiles by 0.286%. The magnitude of export reduction by outages and load shedding was higher. The driving impact of political stability was higher than the impacts of expected and unexpected shortages. A stable political system is necessary to develop feasible solutions

Energy Crisis, Firm Productivity, Political Crisis, and Sustainable Growth of the Textile Industry: An Emerging Economy Perspective

Pakistan’s textile industry is suffering from an electricity shortage and political turmoil. Due to a state of instability in which nothing is certain, things cannot be brought into balance by the state. Therefore, we employ firm-level data (101) to investigate the impact of expected and unexpected power outages on textile firm productivity throughout 2014 to 2019. The study assesses the importance of political stability for the flourishing of Pakistan’s textile sector. Outages were found to significantly negatively impact textile sector sales revenue, likely leading to lower results (by 0.240% and 0.0569%). The duration and frequency of outages had significant adverse influences on reducing firm revenue. It has been estimated that a 1 h outage will cause to loss of revenue of approximately 24 percent. Comparatively, load-shedding hours had a smaller impact on lowering firms’ sales revenues, which were 5% to 8% with and without political stability inclusion. Further, outage hours decreased the export of textiles by 0.286%. The magnitude of export reduction by outages and load shedding was higher. The driving impact of political stability was higher than the impacts of expected and unexpected shortages. A stable political system is necessary to develop feasible solutions

Whether CEO Succession Via Hierarchical Jumps is Detrimental or Blessing in Disguise? Evidence from Chinese Listed Firms

This study investigates the impact of hierarchical jumps in the CEO’s succession on firms’ financial performance. To contemplate deeply, hierarchical jumps have been categorized into high and low level evaluating the positive impact of high-level hierarchical jump on firms’ performance. Moreover, this study has also formulated hierarchical intensity signifying the idea that despite neglecting senior board members during hierarchical jumps, still marginal increment in the firms’ growth has been observed. Using panel regression technique along with 2sls instrumental regression, this research reveals that hierarchical jumps in CEOs successions are more conducive only if the incumbent CEOs are selected irrespective of age, degree or high hierarchical position within the hierarchical ladder. Lastly, this study enunciates that firms having high total assets boost their performance via hierarchical jumps emphatically

Hypolipidemic Effect of Chloroform Extract of Lagenaria siceraria: Potential Inhibitory Activity of Phytochemicals Targeting the HMG-CoA Reductase Revealed by Molecular Docking and Simulation Studies

Conventional systems of medicine play a crucial role in maintaining healthcare. Herbal medicines are intact and less harmful to human beings than synthetic medicines. This study aimed to investigate the phytochemicals and in vivo hypolipidemic effect of chloroform extract of Lagenaria siceraria in Triton X-100 (100 mg/kg body weight) induced hyperlipidemic Wistar rats. The phytochemical characterization and estimation were performed on the base of the GC-MS approach. The Lagenaria siceraria extract (250 and 500 mg/kg bw) was administered orally to hyperlipidemic-induced rats for 7 days to examine its hypolipidemic activity. The experimental animals did not display any acute toxicity. Atorvastatin (10 mg/kg bw) was used as a standard drug. Administration of Lagenaria siceraria extract lowers the total cholesterol (TC), triglyceride (TG), and low-density lipoproteins-cholesterol (LDL-C) levels whereas elevating the high-density lipoproteins-cholesterol (HDL-C) level. Histological studies of the liver and heart also showed the hypolipidemic effect of the extract. On the 8th day, no inflammation of the liver, myocardial necrosis, fibrosis, or atypia was seen. Furthermore, binding affinity and plausible binding mode of stigmastan-3-ol with HMG-CoA reductase were predicted by molecular docking studies which showed the same interaction patterns as atorvastatin. Moreover, the docking results were refined by 100 ns MD simulations which revealed that stigmastan-3-ol extract formed a stable complex with protein and did not induce any conformational changes in protein structure