Table 6 Summary of results and their relation to literature
Research hypotheses | Expected sign | Results’ sign | Result | Proponents from literature | Opponents from literature |
|---|---|---|---|---|---|
H1 | + ve | + ve | Accept | Atkins and Maroun [75], Mervelskemper and Streit [80], Bernardi and Stark [76], Hoang [79], Conway [77, 106], Albitar et al. [20], Caglio et al. [78], | N/A |
H2 | + ve | + ve | Partially Accepting | Siagian and Tresnaningsih [82], Elshandidy et al. [84], Albitar et al. [20], Songini et al. [83], Fayad et al. [85], Chouaibi et al. [12], Allegrini and Greco [91], Javaid Lone et al. [63], Husted and de Sousa-Filho [17] | N/A |
H2-a | + ve | + ve | Accept | Chouaibi et al. [12], Fayad et al. [85], Raimo et al. [15], Gerged [66], Albitar et al. [20], Husted and Sousa-Filho [17], Trireksani and Djajadikerta [94], Javaid Lone et al. [63], Tauringana and Chithambo [69], Rao et al. [64], Allegrini and Greco [91] | Halme and Huse [97], Giannarakis et al. [93], Ezhilarasi and Kabra [96] and, Peters and Romi [103], Liao et al. [104] |
H2-b | + ve | Insignificant + ve | Reject | Fayad et al. [85], Gyapong et al. [86], Vafeas [89], Ghafran and O’Sullivan [87] | Prado-Lorenzo and García-Sanchez [95], Peters and Romi [103], Liao et al. [104] |
H2-c | + ve | + ve | Accept | Chouaibi et al. [12], Farooque et al. [16], Fayad et al. [85], Raimo et al. [15], Wasiuzzaman and Wan Mohammad [99], Manita et al. [98], Baalouch et al. [47], Ben Barka and Dardour [56], Frias‐Aceituno et al. [55], Rao et al. [64] |