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Showing papers in "International Journal of Emerging Markets in 2021"


Journal ArticleDOI
TL;DR: In this paper, the authors investigated the impact of environmental uncertainty and organizational ambidexterity on supply chain integration and its relationship between supply chain agility and organizational flexibility in the manufacturing firms.
Abstract: This study investigates the impact of environmental uncertainty and organizational ambidexterity on supply chain integration and its relationship between supply chain agility and organizational flexibility in the manufacturing firms.,The data were collected from 526 managers in services and manufacturing industry in Kuala Lumpur. The partial least square (SmartPLS 3.0) tool was applied through the use of the structural equation modeling (SEM) technique.,The results revealed that a strong relationship exist between environmental uncertainty and supply chain integrations including customer, supplier and internal integration. Organizational ambidexterity has a significant relationship with supply chain integration. Supply chain integrations were shown to have a positive impact on the firm's supply chain agility and organizational flexibility.,The findings may assist to establish a set of key drivers for enhancing supply chain agility and organizational flexibility as a supply chain management initiative in the manufacturing and service industry.

66 citations


Journal ArticleDOI
TL;DR: Zhang et al. as discussed by the authors used a large sample of 23,340 firm-year observations of Chinese listed companies during 2004-2017 to examine whether board gender diversity reduces the agency costs of firms.
Abstract: The purpose of this research is to examine whether board gender diversity reduces the agency costs of firms in the context of Chinese listed firms.,This paper uses a large sample of 23,340 firm-year observations of Chinese listed companies during 2004–2017. The authors use ordinary least squares regressions as the primary methodology with a wide range of methods to control for endogeneity and to check robustness, including the fixed-effect method, instrumental variable approach, lagged gender diversity measures, propensity score matching, Blau index, Shannon index and industry-adjusted measures of agency costs.,The evidence reveals that the participation of female directors in corporate board reduces agency costs, which correlates with conflicts of interest. Moreover, gender-diverse boards are more effective in state-owned enterprises (SOEs), in which agency issues are more severe. Female directors also provide better monitoring roles in more-developed areas. Finally, corporate boards that have a critical mass of female directors have a greater tendency to reduce agency costs as compared to their token participation. Overall, all findings support the validity of agency theory.,This study shows the economic benefit of female directors in the boardroom by reducing agency costs and by improving firms' governance structure. Regarding the government, which is gradually introducing board gender diversity policies, this study provides valuable pragmatic information for Chinese regulators on this issue.,This study extends the literature by providing evidence that gender diversity in boardroom matters for shareholders' wealth maximization. It provides novel evidence that a critical mass of female directors is more effective in reducing agency costs compared to a single female on the board, and that the effect of gender diversity varies in relation to ownership structure and region.

44 citations


Journal ArticleDOI
TL;DR: In this paper, the impact of cooperation with customers and suppliers on firm performance via innovation capability was examined and a balance must exist between cooperation and competition to achieve optimal innovation returns for the sustainable development of firms.
Abstract: PurposeDespite their economic and cultural significance, the growth of handicraft micro firms is vulnerable, given their small size and resource limitations. By examining the impact of cooperation on firm performance via innovation capability, this study shows how micro firms can address constraints and achieve sustainable development by acquiring and utilizing external resources, complemented by innovation capability, through internal development.Design/methodology/approachData were collected from 164 handicraft micro firms in Pakistan via a questionnaire. Structural equation modeling was employed to estimate interrelations of various constructs simultaneously and control measurement errors.FindingsThe impact of cooperation with customers and suppliers on firm performance via innovation capability was positive and significant. Contrarily, competitor cooperation did not significantly affect innovation capability. Furthermore, there was a positive and significant interaction effect of customer and competitor cooperation on innovation capability. Thus, micro firms must reinforce their customer and supplier relationships through innovation capability and internal transformation for sustainable development. Moreover, a balance must exist between cooperation and competition to achieve optimal innovation returns for the sustainable development of firms.Originality/valueThis study emphasized that micro firms must strengthen their customer and supplier relationships via innovation capability and internal development to achieve higher performance. Moreover, the study introduced a new dimension for measuring firm performance.

40 citations


Journal ArticleDOI
TL;DR: In this paper, the authors examined the relationship between banks' competition performance and risk-taking behavior concerning the impacts of bank size and the recent global financial crisis and found that in competitive markets large banks are more efficient than small banks.
Abstract: This study examines the relationship between banks' competition performance and risk-taking behavior concerning the impacts of bank size and the recent global financial crisis. The analysis empirically uses dynamic panel data from 1137 banks of the BRICS countries (i.e. Brazil Russia India China and South Africa) for the period 2000–2015.,Dynamic panel generalized method of moments (GMM) has been used primarily to examine the effect of bank competition on performance and risk-taking. Later the paper validates the core results by using three-stage least squares (3SLS) and incorporating alternative measure of competition in baseline equations.,This study confirms the significant impact of competition that complies with the structure-conduct-performance hypothesis quiet life hypothesis and “competition fragility” view. However, the key robust results are as follows: (1) in competitive markets large banks are more efficient than small banks; (2) there is a nonlinear relationship between competition performance and risk; (3) across bank size competition heterogeneously affects profitability efficiency risk and stability; (4) notably small banks are as efficient as large banks during crisis but shared with risk; and (5) small banks also stable during crisis in highly concentrated markets but less stable in competitive environments.,This study promotes higher market power for the bank's profitability and financial stability. More intently policymakers should nurture both cost and revenue efficiency for large banks as these are less efficient than small banks in concentrated markets though these banks produce risk. Hence those banks should be cautious to minimize non-performing loans and maximize stability regarding financial and efficiency. Based on the nonlinear pattern of competition the regulators should adopt different policies for short and long run. It also recommends encouraging commercial and cooperative banks in the BRICS region as these are more efficient risk-averse and better stabilized than other types of banks.,A good number of studies are available in the current literature which examines the impact of bank competition on either bank performance or risk-taking in a single country or cross country analysis. However, very few studies examine the relationship between bank performance and risk-taking behavior concerning the impacts of competition (non-linear and quadratic) size financial crisis and ownership structure together. Moreover, there is a dearth of literature on this topic that built on BRICS economies.

40 citations


Journal ArticleDOI
TL;DR: Novel insights are generated as this study is the first to combine the theory of planned behavior, privacy calculus theory and protection motivation theory to better understand customer behavior during a global pandemic.
Abstract: In early 2020, the World Health Organization (WHO) confirmed coronavirus (COVID-19) as a global pandemic (Khanra et al., 2021; Talwar et al., 2021), triggering panic buying across many parts of the globe. As governments announced lockdowns to curb the spread of the virus (Bennett et al., 2020), many people rushed to supermarkets to purchase essential supplies. Mainstream media, social media and scholarly research reported people stockpiling food items, medication and sanitary products out of fear of scarcity (Debiec, 2020; Norberg and Rucker, 2020). Most supermarket shelves were left empty by residents hoarding goods, a behavior that is typically observed at the outset of natural disasters such as cyclones or cold weather (Kitching, 2016; Rice, 2016). For instance, severe bulk buying of staples was observed among Taiwanese communities during the forecasted arrival of a super typhoon (Nepartak) in 2016 (Tsao et al., 2019). Similarly, China's 2003 SARS outbreak caused people to bulk up on rice vinegar and medical products. Other notable public emergency crises in the past included: H1N1 flu in China, Hurricane Sandy in the United States, the nuclear accident in Japan, and Haiti's earthquake (Wang et al., 2014).

38 citations


Journal ArticleDOI
TL;DR: In this paper, the authors examined the impact of ownership structure on firm financial performance, for 146 manufacturing firms listed at the Pakistan Stock Exchange (PSX) for the period 2003-2012.
Abstract: PurposeThis study examines the impact of ownership structure on firm financial performance, for 146 manufacturing firms listed at the Pakistan Stock Exchange (PSX) for the period 2003–2012.Design/methodology/approachThe theoretical background of the present study is based on the agency theory. Ownership structure is measured by institutional shareholdings, insider shareholdings, foreign shareholders and government shareholdings, while return on assets (ROA), return on equity (ROE), market-to-book ratio (MBR) and Tobin's Q (TQ) are used as proxies of corporate financial performance. The dynamic panel generalized method of moments (GMM) method is employed to cater for the issue of endogeneity.FindingsWe find that institutional ownership exerts a significant positive impact on ROE and MBR, which suggests that institutional investors play a significant role in improving the financial performance of the sample Pakistani. Furthermore, the results reveal a significant positive relationship of insider ownership with ROA, ROE, MBR and TQ, which is consistent with the prediction of agency theory that concentration of insider ownership aligns the interest of shareholders with those of the managers and hence improves performance. A significant positive association of government shareholdings with ROA and ROE was also found. Therefore, policymakers may encourage government ownership in firms, which can help to improve corporate financial performance.Originality/valueThe present study contributes to the existing literature on ownership structure and corporate financial performance in an emerging market like Pakistan. It is worth mentioning that the institutional setup and corporate governance structure in Pakistan is yet at an evolving stage. Findings of this study may provide useful insights to corporate managers and investors about the relationship between ownership structure and financial performance of firms from the manufacturing sector in Pakistan.

38 citations


Journal ArticleDOI
TL;DR: In this article, the authors examined the market reaction to the World Health Organization (WHO) announcement of the novel coronavirus disease 2019 (COVID-19) as a global pandemic on the emerging equity markets and compared the reaction with developed markets.
Abstract: Purpose: This study examines the market reaction to the World Health Organization (WHO) announcement of the novel coronavirus disease 2019 (COVID-19) as a global pandemic on the emerging equity markets and compares the reaction with developed markets. This study also compares the market reactions to the COVID-19 pandemic with the market reactions to the 2008 global financial crisis. Design/methodology/approach: Using the Morgan Stanley Capital International daily stock indices data and the Carhart and the GARCH(1,1) models for an event study, the authors examine the cumulative abnormal returns during 30 and 10 trading days and the extended 60 days before and after the WHO pandemic announcement. It also compares the market reactions during the COVID-19 pandemic with the reactions to the Lehman Brothers' bankruptcy announcement during the 2008 global financial crisis. Findings: This study finds that the COVID-19 pandemic had a significantly greater negative impact to the stock markets in emerging countries than in the developed countries. The negative impact on the emerging markets is more pronounced for firms with small market capitalizations and for growth stocks. The negative impact of the COVID-19 pandemic is stronger in the energy and financial sectors in both emerging and developed markets. The positive impact of the COVID-19 pandemic occurred in healthcare and telecommunications for the emerging markets and information technology for the developed markets. This study also finds that the equity markets in both emerging and developed countries recovered faster from the COVID-19 pandemic relative to the 2008 global financial crisis. Social implications: Investors' desire to diversify their risks across different countries and sectors in the emerging markets could bring superior returns. The diversification strategies bring critical financial supports to forestall the contagion of COVID-19, to protect lives, and to save the emerging economies, especially for those financially constrained countries that are facing twin health and economic shocks by channeling their investments to countries with weak healthcare systems. Originality/value: This study extends the literature that examines market reactions to stock market shocks by examining the market reactions to the COVID-19 outbreak on the emerging and developed equity markets across different market capitalizations, valuation and sectors. This study also finds that the markets recovered quicker from the COVID-19 pandemic announcement than during the 2008 global financial crisis. © 2021, Emerald Publishing Limited.

34 citations


Journal ArticleDOI
TL;DR: In this paper, a review of economic and finance research on Islamic investments is presented, focusing on the following issues: the performance of Islamic stock indexes, Islamic finance-growth nexus and Islamic real-estate investment trust market.
Abstract: This paper reviews economic and finance research on Islamic investments. In the course of our review, we focus on the following issues: the performance of Islamic stock indexes, Islamic finance–growth nexus and Islamic real-estate investment trust market.,This literature survey consists of two stages such as random and systematic. It begins with a random search of articles with the intention to explore the three different areas of Islamic banking and finance. In order to maintain some level of quality of the literature review, we explored inside citations of articles based on relevant and recent articles from SCOPUS and Web of Science.,This paper represents an attempt to organise current research on Islamic stock markets, Islamic finance-growth nexus and Islamic real-estate finance: (1) the first prevailing finding is that Islamic stock indices are less volatile than conventional stock indices; (2) most empirical studies regarding Islamic finance–growth nexus focus on the impacts of banking sectors on growth and neglect other segments of the Islamic financial market; (3) based on our review of existing studies, there is no unanimous model for Islamic home financing in Islamic banks.,The mixed findings in this area hinder the understanding of Islamic investment and prevent identifying trends that support decision-making. Our review provides suggestions for prospective research directions. Most empirical studies regarding Islamic finance–growth nexus focus on the impacts of banking sectors on growth and neglect other segments of the Islamic financial market.,There is no literature review on Islamic finance-growth nexus and Islamic real-estate literature. Therefore, we are going to fill this gap to review these three different aspects of Islamic banking and finance.

28 citations


Journal ArticleDOI
TL;DR: In this article, the role of mediating variables such as brand trust (BT) and brand loyalty (BL) in the context of an emerging market has been evaluated for small and medium-size enterprises' performance.
Abstract: Purpose: The purpose of this paper is to evaluate the role of corporate social responsibility (CSR) on small and medium-size enterprises’ (SMEs') performance by exploring the role of mediating variables such as brand trust (BT) and brand loyalty (BL) in the context of an emerging market. Design/methodology/approach: Based on a extend literature review on CSR, BT and BL studies, the authors evaluate the impact of those construct on SMEs’ performance in an emerging market. The paper follows a quantitative approach. In total, 247 responses were collected from 300 samples. The Smart Partial Least Squares SEM (version) was used to analyze the data of the SMEs of Vietnam in the year 2020. Findings: The findings revealed significant and positive relationships among the variables in the model, such as CSR and firm performance (FP), CSR and BT, CSR and BL, as well as the mediating effect of BT and BL between CSR and firm performance. Research limitations/implications: First, the sample was composed of small business from different segments, thus the respondents' perspective about CSR can differ according the impact of the business on society. Therefore, future studies could address businesses from a single segment to get a deeper understanding of their knowledge and involvement with CSR. Second, a cross-cultural study in emerging countries can be a rich venue for future research. Third, this study was developed through a quantitative approach;thus, the future research can apply qualitative approach or mixed methods to extend the study findings. Practical implications: Managerial level of firm should prioritize noneconomic-related CSR;however, those will ultimately drive financial indicators of FP. The result is reasonable because firm simultaneously keeps committed with its stakeholders by delivering the committed qualification, transparency in operation and consistency in communication, environment respect, employee development and social welfare integrated directly into business activities. Those will result in creating love, trust and admiration from stakeholder, customers for brand and firms will get their engagement and support in many ways. This implication suggests that firm should incorporate CSR strategy into their core business activities and practice properly toward its stakeholders. Social implications: This study contributes to the CSR literature in emerging context by shedding light on the roles of CSR in FP with the mediation roles of BT and BL. Most CSR studies focused on Western context as developed economy, thus less attention has been paid for emerging economy. While there is increasing interest CSR in Vietnam, traditional culture and its distinctive economic and political structure has had a great influence on CSR in Vietnam. Thus, this study is important and meaningful for business practitioners, investors, shareholders and policymakers toward sustainable development for firms and Vietnam as a whole. Originality/value: To the best of the authors’ knowledge, this is the first study that explores the mediating role of BT and BL between CSR and FP for SMEs. The findings of this study may be of great implications to entrepreneurs, top management with respect to strategic perspectives to drive their businesses and to improve their FP in a sustainable direction in contexts of emerging markets. In addition, this finding may be of great interest to motive SMEs' managers to engage with CSR actions where those businesses are situated during and after the COVID-19 pandemic. By that understanding, Government may consider for policy reforms/innovation/groundbreaking to leverage businesses to promote their strengths toward sustainable development in the new economic settings. The findings of this study may be of significant contribution to SMEs in Vietnam and in others in emerging economies. © 2021, Emerald Publishing Limited.

23 citations


Journal ArticleDOI
TL;DR: In this paper, the authors investigated the impact of perceived brand authenticity dimensions (i.e., quality commitment, heritage, sincerity) on brand love to predict Generation Y's behavior from the Asian context.
Abstract: In the modern era, brand authenticity is one of the most powerful positioning strategies for sustainable business growth. This study investigated the impacts of perceived brand authenticity dimensions (i.e., quality commitment, heritage, sincerity) on brand love to predict Generation Y's behavior from the Asian context.,This is new empirical research that tested the proposed hypotheses through PLS-SEM, as PLS is the most robust technique for predicting consumer behavior. Importantly, consumers (of Generation Y) from five Asian countries contributed to this study, and data collected from 427 Asian millennials on global brands.,The results analysis revealed that perceived brand authenticity dimensions significantly impacted brand love, which positively affected Asian millennials' behavioral outcomes (i.e., continuous purchase intention and price premium).,This study investigated dimensions of perceived brand authenticity to predict Asian millennials' behavioral outcomes in a broader perspective. Future researchers may investigate a specific culture with a larger sample size to predict millennials behavior.,This study has several implications that guide the global managers of several service and manufacturing industries to develop various positioning and relationship strategies for global brands to target Asian markets effectively.,Using attribution theory, this is the first novel research study that empirically discussed the dimensions of perceived brand authenticity, brand love, and Asian millennials' behavior toward global brands.

22 citations


Journal ArticleDOI
TL;DR: In this paper, the impact of ownership structure such as family, government, institutional, foreign and public on dividend payouts as a representative of dividend policy of non-financial firms in Bangladesh was examined.
Abstract: PurposeThe purpose of this study is to examine the impact of ownership structure such as family, government, institutional, foreign and public on dividend payouts as a representative of dividend policy of nonfinancial firms in Bangladesh.Design/methodology/approachThis study employs a dynamic panel data model, namely, differenced generalized method of moments (GMM), which follows a two-step process. The study uses annual data of a sample of 159 nonfinancial firms of Dhaka Stock Exchange for the period 2008–2017, which constitutes a panel data of 1,590 firm-year observations.FindingsThis study’s findings reveal that family and public ownerships have a significant and positive effect on dividend payouts, while government and institutional ownerships have a significant but negative effect. This study additionally incorporates some very important controlled variables and finds that except for size, all the selected controlled variables, i.e. lagged-one of dividend payout, returns on assets, debts to assets, price-earnings (PE) ratio, age and financial crisis have a significant effect on the dividend payouts. However, the findings support several dividend-related theories or hypotheses, i.e. agency cost theory, dividend stability theory and reputation hypothesis.Research limitations/implicationsThis study could consider some other aspects of corporate governance, as well as other emerging markets and financial institutions to perceive whether the results differ. Also, investigation could be carried out on conventional and Islamic firms individually to observe if the findings are different. However, the researchers are suggested to incorporate these issues in their future studies.Practical implicationsThis study offers an important insight into the relationship dynamics between dividend payouts and ownership structure in the context of an emerging market like Bangladesh. Moreover, it enhances the understanding of the ties of dividend payouts with the firm-specific factors as well as the financial crisis. The findings of the present study have also important implications for managers, policymakers and researchers, who are in quest of directions on the dividend policy of publicly listed nonfinancial firms.Originality/valueMost of the previous studies consider one or two types of ownership to examine the impacts on dividend payouts, while this study uses five types of ownership accompanied by a different data set. Moreover, to the authors’ knowledge, no study in Bangladesh has yet addressed this issue in such a comprehensive manner as theirs.

Journal ArticleDOI
TL;DR: In this article, a comprehensive systematic review of entrepreneurship in the context of emerging markets (EMs) is provided, focusing on three broad domains of the EEMs scholarship: entrepreneurship in emerging markets, MNEs, institutional environments, and FDI.
Abstract: To provide a comprehensive systematic review of entrepreneurship in the context of emerging markets (EMs). The area of research is topical considering the rise of EMs on the global scene and the importance of entrepreneurship in the development of EMs.,The paper utilizes scientometrics to provide a systematic review of the emerging field of entrepreneurship in EMs (EEMs). The entire Web of Science database was searched, and 2,568 scholarly outputs were extracted and analyzed as a result. The review further compares the EEMs research to the mainstream entrepreneurship research based on the top trending and high impact themes, demonstrates which countries published and are studied in the EEMs scholarship, and finally, it provides a proportion of empirical research done on EEMs to highlight methods utilized in the existing research.,The scientometric review reveals three broad domains of the EEMs scholarship–(1) Entrepreneurship in EMs and its implications; (2) MNEs, institutional environments, and FDI; and (3) Strategy, innovation and performance. The findings demonstrate that EEMs' scholarship primarily discusses environments within which EEMs takes place, the implications of EEMs, strategy and performance of EEMs (macro and meso-levels), thus highlighting the need for micro-level (individual-based) analysis of EEMs. Approximately, a third of the EEMs research is of empirical nature, more should be done especially in quantitative studies to develop this field further.,This research is unique in providing the largest review of EEMs scholarship. It divides the entire scholarship into three inter-related research streams and identifies future research directions in this immensely important field of research.

Journal ArticleDOI
TL;DR: In this paper, the role of international entrepreneurial capability in enhancing international opportunity recognition (IOR) process and the performance of export manufacturing firms was investigated, and three international entrepreneurial capabilities, namely, international networking capability, learning capability, and marketing capability, were found to positively enhance the IOR process.
Abstract: Purpose: The international entrepreneurial capability has achieved its legitimacy in international business literature. Leveraging capabilities to recognize opportunities are considered a pivotal strategy to achieve success. Drawing on entrepreneurship literature and opportunity perspective, this study investigates the role of international entrepreneurial capability in enhancing international opportunity recognition (IOR) process and the performance of export manufacturing firms. Design: Structural equation modelling has been used to test the hypothesised relationship on 388 export-manufacturing entrepreneurial firms operating in the apparel industry of Bangladesh. Findings: The results signify that three international entrepreneurial capabilities, namely, international networking capability, learning capability, and marketing capability positively enhance the IOR process of export manufacturing firms. IOR process positively mediates the relationships between these international entrepreneurial capabilities and firm performance. Originality: Merely having the international entrepreneurial capability is not sufficient to escalate the firm performance. It must be amplified by various strategic actions such as IOR process. Entrepreneurs need to capitalise on the international entrepreneurial capability to leverage IOR process and generate non-financial performance success. Entrepreneurial firms that focus more on stimulating non-financial performance can secure better financial performance.

Journal ArticleDOI
TL;DR: In this article, the authors investigated the factors that affect mobile banking adoption among the bottom-of-the-pyramid (BoP) group in an emerging market, and found that perceived usefulness and perceived ease of use (PEoU) influence the attitude toward mobile banking positively whereas the perceived risk (PR) and perceived deterrents (PDs) influence attitude negatively.
Abstract: This paper aims to investigate the factors that affect mobile banking adoption among the bottom of the pyramid (BoP) group in an emerging market.,Data were collected from 332 bank customers in the BoP group through a questionnaire based on previously validated scales. Structural equation modeling (SEM) was applied using SmartPLS 2.0 to analyze the data.,It was found that perceived usefulness (PU) and perceived ease of use (PEoU) influence the attitude toward mobile banking positively whereas the perceived risk (PR) and perceived deterrents (PDs) influence the attitude negatively. The subjective norms (SNs) and the attitude positively affect mobile banking adoption. Knowledge of mobile banking has a strong effect on the PEoU, but it does not influence the PU of mobile banking.,This research makes an original contribution to the extant research and fills the gap by exploring the factors that affect the mobile banking adoption among a distinct BoP group (migrant workers) in an emerging market. The authors make use of knowledge of mobile banking and PDs as novel and important constructs in the technology acceptance model (TAM) to explore the factors that affect mobile banking adoption among the BoP.

Journal ArticleDOI
TL;DR: In this paper, the authors examined the effect of openmindedness and humble behavior on innovation through the mediator role of learning and found that there is a natural and partial indirect effect of humble behaviour on innovation.
Abstract: PurposeThis study examines the effect of open-mindedness (OM) and humble behavior on innovation through the mediator role of learning.Design/methodology/approachA quantitative design was adopted to collect data through a questionnaire-based survey distributed to 400 employees at international oil companies operating in Iraq.FindingsThe results indicate a direct positive of learning on innovation. Hence, there is a natural and partial indirect effect of humble behavior on innovation and a full indirect impact of OM on innovation through learning.Research limitations/implicationsThe theoretical and practical implication of this study indicates that individual learning on innovation is vital when the workplace environment has a diversity of cultural backgrounds. Moreover, the implications of this study may contribute to determining the weakness of invention in such industries because of the effect of personal characteristics (i.e. OM and humble) on readiness to learn.Originality/valueIn a culturally diverse work environment, the behavior of humble and OM will have a significant impact on the intensity of individual learning, which would increase innovation in the context of the oil industry. Therefore, the essence of originality in this study is to lead the managers to pay attention to the psychological aspects of the workplace environment that require learning and innovation.

Journal ArticleDOI
TL;DR: In this paper, the authors investigate the interplay between home country institutional environment (economic, regulatory and socio-cultural environment), export market orientation and export performance, and examine the moderating role of firm resources (knowledge-based and managerial resources) in the associations between home-country institutions and export market orientations.
Abstract: PurposeAnchored mainly on the institutional theory and resource-based view, this study endeavors to investigate the interplay between home country institutional environment (economic, regulatory and socio-cultural environment), export market orientation and export performance. Besides, this study also aims to examine the moderating role of firm resources (knowledge-based and managerial resources) in the associations between home country institutions and export market orientation.Design/methodology/approachDrawing on data from a sample of 221 exporting firms in Turkey, the conceptual model is empirically examined by structural equation modeling.FindingsThe findings reveal that regulatory environment is conducive to the improvement of export market orientation, which is instrumental in cultivating export performance. Importantly, empirical evidence also proves that higher levels of knowledge-based and managerial resources strengthen the linkage between home country institutions and export market orientation.Originality/valueIntegrating institutional theory with the resource-based view, this research considerably contributes to the current understanding of the export market orientation phenomenon by filling the knowledge gap on the differential impacts of home country’s economic, regulatory and socio-cultural environment on export market orientation. Moreover, this study provides worthwhile insights into the moderating effect of knowledge-based and managerial resources on home country institutions and export market orientation and the interrelationship between export market orientation and export performance in an emerging economy.

Journal ArticleDOI
TL;DR: In this paper, the authors examined the dynamic interrelationship between economic policy uncertainty and the inflows of foreign direct investment (IFDI) in China, using the Granger causality and sub-sample time-varying rolling window causality method.
Abstract: This research examines the dynamic interrelationship between economic policy uncertainty (EPU) and the inflows of foreign direct investment (IFDI) in China.,This research used the Granger causality and sub-sample time-varying rolling window causality method.,The empirical results reveal that EPU tends to have a negative impact on the IFDI in most periods that have been taken into consideration. However, there has been a positive relationship observed between the periods of the US subprime crisis. That is to say that the uncertainty of the Chinese economic policy does not always impede the IFDI. These results are supported by the general equilibrium model, which states that there are certain influences that come into play when moving from EPU to IFDI. On the other hand, the IFDI exert a positive influence on EPU during times of economic crisis and trade war, which indicates that the uncertainty in the economy may increase due to the sudden soar of foreign investment.,During tense global trade situations and complicated economic scenarios, the results suggest the Chinese government should dedicate itself to expanding its initiatives to open up and improve the domestic business environment in order to increase the foreign investors' confidence and prevent the decline in the IFDI. In addition to this, it also suggests that multinational companies pay attention to the policy environment of the host country, especially when they decide to invest there.

Journal ArticleDOI
TL;DR: In this paper, the authors aim to bridge entrepreneurial capability, export market orientation and the international performance of international new ventures (INVs) by investigating the hypothesised relationships between capabilities and market orientation, and support the mediating relationships for both general entrepreneurial capability and international entrepreneurial capability.
Abstract: Purpose: The study aims to bridge entrepreneurial capability, export market orientation and the international performance of international new ventures (INVs). Thus, multi-scale entrepreneurial capabilities have been adopted to provide more profound insights into the early literature on internationalisation. Since little is known about the antecedents of export market orientation, the performance outcome of this is ambiguous. This study aims to enhance knowledge in this pressing research area. Design and Methodology: The sample of this study consists of data (354 firms) from INVs operating in the apparel industry of an emerging economy, namely, Bangladesh. Structural equation modelling has been used to investigate the hypothesised relationships. Findings: For the Deshpande and Farley (1999) scale, the effect of general entrepreneurial capability on intelligence dissemination and responsiveness is positively significant. Similarly, the effects of international entrepreneurial capability on customer orientation, intelligence generation, dissemination, and responsiveness are positively significant. However, general entrepreneurial capability has non-significant effects on customer orientation and intelligence generation. The results also showed that export market orientation positively mediates the relationship between international entrepreneurial capability and firm performance. For Morris and Paul (1987) scale, our hypothesised relationships between capabilities and market orientation are positively significant, and, therefore, support the mediating relationships for both general entrepreneurial capability and international entrepreneurial capability. Originality/value: Merely having capabilities without acknowledging the firm’s strategic orientations is not sufficient to secure superior performance. We urge entrepreneurs to capitalise on their entrepreneurial capabilities to leverage organisation-wide export market-oriented behaviour to achieve superior international performance in emerging economies.


Journal ArticleDOI
TL;DR: In this article, the authors provided a further understanding of the impact of economic policy uncertainty, news framing and information overload on panic buying behavior during the COVID-19 pandemic.
Abstract: Purpose: This conceptual paper aims to provide a further understanding of the impact of economic policy uncertainty (EPU), news framing and information overload on panic buying behavior during the COVID-19 pandemic. Design/methodology/approach: Drawing on earlier research and news releases about the COVID-19 outbreak, this paper advances testable propositions based on the protection motivation theory and information processing theory. Findings: This paper infers that the major shift in consumer decision-making towards panic buying is a result of high EPU. International reports have contributed to deepening this uncertainty, and the consequences of this EPU are expected to affect the economic recovery through 2022. Furthermore, the adoption of particular frames of the pandemic has played a key role in the dissemination of misinformation and fake news during the public health crisis and affected purchasing decisions. The study also infers that the perceived threat among consumers is driven by information overload as a source of mistrust towards economic and health information sources. Originality/value: This paper addresses two theoretical gaps associated with consumer buying behaviour. First, it highlights the impact of EPU, as a macroeconomic indicator, on consumer buying behaviour. Second, this paper is an attempt to integrate theories from different disciplines to foster an adequate understanding of buying behavior during the COVID-19 outbreak period. © 2021, Emerald Publishing Limited.

Journal ArticleDOI
TL;DR: In this article, the authors examined the effects of intrinsic factors, namely, perceived utilitarian, hedonic value, materialism, fashion interest and enjoyment, on impulsive online shopping with mediating role of trust and online shopping attitude in the Indian emerging market.
Abstract: In an emerging market, understanding shoppers' behavior in an online market is essential to developing online retail strategies. This research study examines the effects of intrinsic factors, namely, perceived utilitarian, hedonic value, materialism, fashion interest and enjoyment, on impulsive online shopping with mediating role of trust and online shopping attitude in the Indian emerging market.,Data are collected from 443 Indian respondents, using purposive and snowball sampling. The data were analyzed using the IBM Statistical Product and Service Solutions (SPSS) and Analysis of Moment Structures (AMOS) package using structural equation modeling.,The results showed that perceived utilitarian, hedonic value, materialism and enjoyment factors significantly impacted perceived trust and online shopping attitude, but fashion interest had no effect. Mediating factors positively impacted impulsive online shopping and showed a significant association between intrinsic factors and impulsive online shopping.,The geographical area of study was limited to only India. Consequently, the findings and conclusions of the study had their limits. The research used the information continuum with a purposive and snowball approach that does not necessarily generalize the findings of the analysis. This work looked at factors stimulating the impulsive online shopping pattern of Indian shoppers in an emerging market.,This research would help e-retailers develop new strategies and plans to increase sales volume and create strong relationships with online customers by providing trustworthiness and security in buying practices.,This study helps to understand the consumer impulsive buying during coronavirus disease 2019 (COVID-19), and it helps e-retailers to adopt a new online store to draw the attention of the consumers and enhance their online sales.,In this COVID-19 situation, this study explores the inherent factors influencing impulsive online shopping in the emerging Indian market. As a result, it contributes to visual identity literature by expanding the field of impulsive online shopping behavior.

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TL;DR: In this article, a research model from the perspectives of knowledge hiding and idea implementation was built to examine what factors influence idea implementation and the cross-level moderating role of team territory climate.
Abstract: This study aims to build a research model from the perspectives of knowledge hiding and idea implementation to examine what factors influence idea implementation and the cross-level moderating role of team territory climate.,Data were collected from universities, 52 (R&D) teams in China via a two-wave survey. The final sample contained 209 team members and their immediate supervisors. Hierarchical linear modeling was used to test hypotheses.,The results indicated that individuals’ knowledge-hiding behavior had a significantly negative impact on idea implementation and creative process engagement, which played a mediating role. Team territorial climate played a cross-level moderating role between knowledge hiding and idea implementation. If team territorial climate was at a high level, then the negative connection between knowledge hiding and idea implementation would be weaker.,Under the perspective of territorial behavior in Chinese cultural, it can help to distinguish territorial behavior and be preventive at individual and team levels. This study not only enables managers to clearly understand the precipitating factors of idea implementation but also provides constructive strategies for alleviating the negative effects of knowledge territoriality on creative process engagement and idea implementation.,This study constructs a cross-level model to explore the relationship among knowledge hiding, creative process engagement and idea implementation at individual and team levels in the context of Chinese R&D enterprises. Additionally, the study analyzes the influence of territoriality on idea implementation under boundary conditions.

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TL;DR: In this paper, the authors investigated the effect of perceived employee commitment to service delivery and customer involvement on customer value and willingness to pay more for banking services, and they showed that hedonic value has a more pronounced effect on customers' willingness to buy more services than utilitarian value.
Abstract: Although scholars highlighted the need to close the interactive marketing gap and enhanced understanding of willingness to pay more in settings where customer participation in the service delivery process is paramount, research addressing this issue is scare. This study investigates the effect of perceived employee commitment to service delivery and customer involvement on customer value and willingness to pay more. The study also examines the extent to which customer value mediates the effect of employee commitment and customer involvement on willingness to pay more for banking services.,The analysis was based on a sample of 211 Nigerian bank customers procured through a mall-intercept survey technique. The partial least squares structural equation modelling procedure and the Preacher–Hayes Bootstrapping technique aided hypotheses testing.,This study demonstrates that elements of employee commitment to service delivery and customer involvement have significant positive effect on the components of customer value. It also shows that customer value components have significant effect on customers' willingness to pay more. Additionally, the study shows that components of customer value mediate the effect of employee commitment to service delivery and customer involvement on willingness to pay more.,The study contributes to closing gaps in interactive marketing literature by uncovering how willingness to pay more for services is influenced by customer perceptions of employee commitment (affective and calculative) service delivery, customer involvement and customer value (hedonic and utilitarian).,It is important for managers to put in place measures that will help them know the kind of commitment cues their employees are emitting to customers as well as levels of customer involvement during service encounters.,This study breaks new ground in three unique ways. First, the study represents the first attempt to examine the combined effect of employee commitment to service delivery and customer involvement on consumer value perceptions. Second, the study also demonstrates that hedonic value has a more pronounced effect on willingness to pay more for banking services than utilitarian value. Finally, the study shows the extent to which customer value (hedonic vs utilitarian) mediates the effect of employee commitment to service delivery and customer involvement on willingness to pay more.

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TL;DR: In this article, the mediating and moderating effects of relational flexibility norms on relationship building capacities and export performance were analyzed using structural equation modeling (SEM) using AMOS 24.0 statistical package.
Abstract: PurposeThe purpose of this study is to analyse the mediating and moderating effects of relational flexibility norms on relationship building capacities and export performance.Design/methodology/approachThe study followed a quantitative and cross-sectional approach. The analysis was applied to 95 Peruvian Exporting SMEs which were examined through structural equation modelling (SEM) using AMOS 24.0 statistical package. The responses were gathered through telephone and personal interviews which were tested using the Mann–Whitney U test, finding no statistically significant differences.FindingsThe main finding of the study is to demonstrate the indirect effect of relational flexibility norms on the export performance of SMEs through relationship-building capabilities. In this way, these capabilities become very important variables in the export management of SMEs, since they directly affect the relationship of the Exporter–Importer dyad.Research limitations/implicationsOne of the limitations is the cross-sectional type study that applies to the short-term effects of relational norms. Organizational characteristics and other factors that may affect export performance should also be considered in future research, as well as longitudinal studies should be developed.Practical implicationsThe study allows SMEs to focus management efforts on strengthening the relationship – building capabilities, which are very important given SMEs' resource constraints. Therefore, an adequate management of relations with importers can contribute to the reduction of control and coordination costs; and have a positive impact on export performance. Similarly, the study contributes to the management of export promotion by suggesting that one area to be prioritized is the strengthening of the relationship capacities of exporting SMEs.Originality/valueThe study provides the analysis of the mediating effect of the relationship-building capability between relational flexibility and export performance. In this way, it enriches the theoretical analysis and contributes with the empirical evidence of an emerging country like the case of Peru.

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TL;DR: In this article, the impact of corporate social responsibility (CSR) practices on the relative efficiency of conventional and Islamic Egyptian banks in the period 2012-2018 was assessed, and the Tobit regression model was used to examine the impact on the technical efficiency of these banks.
Abstract: PurposeThis study assesses the impact of corporate social responsibility (CSR) practices on the relative efficiency of conventional and Islamic Egyptian banks in the period 2012–2018.Design/methodology/approachA three-stage approach is adopted. First, data envelopment analysis (DEA) is used to assess the relative efficiency of Egyptian banks. Second, a CSR index is designed and used to assess the extent of aggregate CSR practices in Egyptian banks, together with their sub-dimensions. Third, a Tobit regression model is used to examine the impact of CSR on the technical efficiency of these banks.FindingsThere is no statistically significant difference between conventional and Islamic banks as regards their purely technical efficiency. Egyptian banks, on average, have achieved a medium score in their practices of CSR and conventional and Islamic banks have not shown significant differences, except in 2018. Moreover, the aggregate CSR practices positively affect the technical efficiency of Egyptian banks. The practices of the CSR sub-dimensions, apart from the community sub-dimension, also affect the banks' technical efficiency.Practical implicationsThe legislative institutions and the Central Bank should enhance CSR practices in Egyptian banks, particularly the practices related to customers and the community, in order to enhance the purely technical efficiency of these banks.Originality/valueThe paper is original in investigating the impact of CSR on banks' relative efficiency in Egypt.

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TL;DR: In this article, the authors investigate the determinants of crowdfunding contribution intention in the context of a developing country -Bangladesh and find that liking the campaign idea and positive media coverage of a crowdfunding campaign have a positive association with crowdfunding contribution intentions Surprisingly, personal relations, others' recommendation and the location of the campaign's owner were not significantly associated with contribution intention.
Abstract: SME funding gaps in developing economies are substantial Crowdfunding is an innovative way to raise funds that may be part of the solution for closing such gaps The purpose of this study is to investigate the determinants of crowdfunding contribution intentions in the context of a developing country –Bangladesh,The authors collect data by using a structured questionnaire distributed through Facebook The analysis is based on data collected from 252 valid responses and uses the ordered probit regression for estimation For robustness, the authors also estimate the hypothesized model using ordered logistic regression and OLS regression finding identical results,The authors find that liking the campaign idea and positive media coverage of a crowdfunding campaign have a positive association with crowdfunding contribution intention Surprisingly, personal relations, others' recommendation and the location of the campaign's owner were not significantly associated with crowdfunding contribution intention in our study Moreover, respondents' location in Bangladesh (vs abroad) and their age are positively associated with contribution intention, while education is negatively associated with intention,Earlier studies focused on the determinants of ex post crowdfunding intentions in developed and more mature crowdfunding markets The authors contribute by examining ex ante crowdfunding contribution intentions in the developing economy of Bangladesh, which is at the market's inception stage

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TL;DR: Wang et al. as discussed by the authors designed and tested a comprehensive multidimensional and hierarchical model of service quality with higher-order psychometric constructions and their mediation effects in the model, in which outcome, interaction and environment quality are the important primary dimensions, with each of them having several subdimensions.
Abstract: PurposeBanking services encounter major challenges in determining customer's psychometric behavioral intentions. Scholars suggest that a theoretical approach to better understand the key constructs of service marketing, such as service quality, perceived value, customer satisfaction, corporate image and behavioral intentions, is critical to bank performance. The present study aims to design and test a comprehensive multidimensional and hierarchical model of service quality with higher-order psychometric constructions and their mediation effects in the model.Design/methodology/approachData from a self-administered structured questionnaire are analyzed by confirmatory factor analysis and structural equation modeling.FindingsEmpirical results confirm that multidimensional and hierarchical service quality are best suited to assess overall banking service quality, in which outcome, interaction and environment quality are the important primary dimensions, with each of them having several subdimensions. Service quality is the significant antecedent of behavioral intentions, customer satisfaction, corporate image and perceived value. Customer satisfaction and service quality are the best determinants of behavioral intentions. In addition, customer satisfaction, perceived value and corporate image are complementary variables, having significant mediation effects on the relationship between service quality and behavioral intentions.Originality/valueAs a maiden study in the context of emerging economies, this research integrates a comprehensive service quality theory and valuable customer loyalty constructs, which are crucial to banks' financial performance, bolstering evidence for the theoretical pitch. This study also provides managers with a clear idea of how they can develop sustainable service marketing strategies and policies on the psychometric perceptions of customers, thereby leading banks to achieve long-term goals.

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TL;DR: In this article, the authors examined the impact of intellectual capital efficiency and corporate governance mechanisms on the annual report readability of financial sector companies in the Muscat Securities Market, Oman.
Abstract: PurposeThis study examines the impact of intellectual capital efficiency and corporate governance mechanisms on the annual report readability of Oman's financial sector companies.Design/methodology/approachThe study uses a sample of 150 firm-year observations of listed financial sector companies in the Muscat Securities Market, Oman, from 2014 to 2018. Flesch Reading ease and Flesch Kinkaid Index are used as proxies for annual report readability. As part of sensitivity analysis, the study also uses the natural logarithm of annual report pages as alternative readability measures. The investigation is conducted using random effects regression analysis and supported with system GMM estimation for robustness.FindingsThe findings of this study demonstrate a decrease in intellectual capital efficiency associated with better readability of annual reports for the financial sector firms. Alternatively, banks report a positive association of intellectual capital efficiency with the Flesch Reading ease score of the annual report. The structural capital and capital employed efficiency are also found to be negatively associated with annual report readability. Corporate governance mechanisms such as dispersed ownership and audit committee size also result in easy-to-read annual reports that support agency theory.Research limitations/implicationsThe research was conducted for financial firms of Oman, and thereby the findings can be generalized to the financial sector of countries with similar settings, such as the Gulf Cooperation Council (GCC) region.Practical implicationsThe policy implications arising from this study suggest a strengthening of the intellectual capital efficiency and corporate governance mechanisms to improve the readability of the firms and thereby increase investor confidence.Originality/valueThis paper's uniqueness is in the model used to investigate the impact of intellectual capital efficiency and corporate governance mechanisms on the annual report readability of an emerging market.

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TL;DR: In this paper, the authors analyzed the effects of financial policies and countries' institutional-financial characteristics on earnings management practices in Latin American companies. And they found that companies with high levels of leverage and short-term debt carry out positive discretionary accruals.
Abstract: The purpose of this article is to analyze the effects of financing policy and countries' institutional–financial characteristics on earnings management (EM) practices in Latin American companies.,The GMM estimator was used according to Arellano and Bover (1995) for panel data on a sample of 983 Latin American companies between 1995 and 2017.,Leverage and short-term debt have a negative and nonlinear effect on EM practices. Nonlinearity suggests that firms with high levels of leverage and short-term debt carry out positive discretionary accruals. Countries' institutional and financial development reduces EM practices. Mandatory IFRS adoption also reduces these practices and mitigates the effects of the low institutional and financial development on EM.,These results reveal the relevance of companies' financing policy as a means of controlling EM practices. Results also suggest that policy effectiveness decreases with leverage and short-term debt. It is suggested that policymakers design financial policies aimed to promote institutional and financial development as a means of systematic control over EM activities, which also includes IFRS.

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TL;DR: In this article, the authors focus on proposing and empirically validating a model that captures certain critical socio-psychological factors that nurture consumers' attitude towards affordable luxury brands in an emerging market context of India.
Abstract: PurposeThis study aims to focus on proposing and empirically validating a model that captures certain critical socio-psychological factors that nurture consumers' attitude towards affordable luxury brands in an emerging market context of India.Design/methodology/approachThe data were collected via a cross-sectional questionnaire survey from 491 customers of different fashion accessory luxury products in India. The data were analyzed through structural equation modelling (SEM) using AMOS 23.0 SEM software.FindingsThe findings of this study reveal that conspicuousness, status consumption, brand name consciousness, need for uniqueness and hedonism positively affect consumer attitude towards affordable luxury, which consequently affects consumers' purchase intention. The findings further reveal that age acts as a moderator in driving consumers' neo-luxury consumption.Originality/valueBy uniting various socio-psychological factors with consumer attitude and purchase intention in a conceptual model, along with studying the moderating role of age, this study responds to the calls for further research regarding affordable luxury and offers a more granular understanding of specific consumer motivations that guide Indian consumers' affordable luxury consumption.