Showing papers in "International Journal of Emerging Markets in 2022"
TL;DR: In this article , the mediating role of corporate image (CI), corporate reputation (CR) and customer loyalty (CL) between CSR and firm performance was evaluated in the context of an emerging country.
Abstract: PurposeThe purpose of the paper is to evaluate the essential role of corporate social responsibility (CSR) on SMEs' performance by exploring the mediating role of corporate image (CI), corporate reputation (CR) and customer loyalty (CL) between CSR and firm performance (FP) in the context of an emerging country.Design/methodology/approachBased on an extended literature review on CSR, CI, CR and CL studies, the authors evaluate the impact of these four constructs on SMEs' performance in an emerging market. The paper follows a quantitative approach. The study sample was composed of 482 responses covering top executives, managers and experts. The Smart PLS SEM version 3.3.2 was used to analyse the data of the small- and medium-sized enterprises (SMEs) of Vietnam in the year 2020–2021.FindingsThe authors' findings reveal significant and positive relationships amongst CSR, FP, CSR and CI, CSR and CR, CSR and CL, and most importantly, the findings add value to the current knowledge by exploring the mediating effect of CI, CR and CL between CSR and FP.Research limitations/implicationsThe study was conducted in Vietnam. As a result, the findings of the study might not be applicable for other countries, if the economic and environmental settings are different from that of Vietnam. Therefore, future research should consider for other countries, other regions. Second, due to the purpose and priority of the study, CI, CR, and CL was employed as mediators amongst the relationship between CSR and FP. Thus, future research should consider other mediators or moderators in such a relationship to see how CSR generates outcomes in the new associations.Practical implicationsThe study regarding the role of CSR in enhancing the performance of SMEs can motivate firm's chief executive officers (CEOs) to be proactive in getting involved and practising CSR in a consistent manner. Second, the above discussion draws a very important implication for the executive level, the management level of the enterprise, which enterprises should balance the interests of business, customers, other stakeholders, the environment and society in order to optimise CSR outcomes for improving competitiveness and developing sustainably. This implication is particularly important to the survival and development of SMEs in a challenging emerging economy.Social implicationsThe study widens the literature regarding relationship between CSR and SMEs' performance. Besides, the study supports stakeholder theory that explains why CSR positively affects firm's performance. The significant mediating roles of CI, CR and CL were positively confirmed in the study. Although previous studies determined that such roles are strategic source of competitive advantages of enterprises, however, how CSR involved in enhancing the roles has not been deeply explored and integrated. Third, the findings of the study support the resource-based view (RBV) and resource-based perspective that explains why firm should engage in CSR activities, and CI, CR and CL can enhance firm's performance by providing strategic source of competitive advantages that facilitate business to improve its performance in sustainable direction.Originality/valueTo the best of the authors' knowledge, the current literature on CSR and FP shows that, to date, there has been little empirical research on the mediating mechanism of CI, CR and CL in the link between CSR and FP for SMEs. The findings of the study may have great implications for entrepreneurs and top management with respect to the strategic perspectives to drive the businesses and to improve firm's performance in a sustainable direction in the context of emerging markets. In addition, the finding might be of great interest to – and motivate – SMEs' managers to engage with CSR actions where such businesses were or are situated during and after the coronavirus disease-2019 (COVID-19) pandemic. By that understanding, the Government might allow for innovative and groundbreaking policies or the reformation of old policies to leverage businesses to promote their strengths towards sustainable development in the new economic settings. The findings of the study may be a significant contribution to SMEs in Vietnam and in other emerging economies.
32 citations
TL;DR: In this paper , the authors investigated the relationship of country of origin image with consumer purchase intention through consumer uncertainty and found that the positive brand image of high tech products was found to moderate the effect of country-of-origin image on consumer uncertainty.
Abstract: PurposeCountry of origin is a well-studied topic for developed countries that have a favourable image. However, how country of origin image affects the consumers of an emerging country on a frontier market with high uncertainty avoidance still needs to be shed light. Therefore, this study investigated the relationship of country of origin image with consumer purchase intention through consumer uncertainty. The study further explored the conditional effect of brand image between country of origin and consumer uncertainty.Design/methodology/approachThe data for this study was collected from 400 Pakistani consumers. As this study assessed purchase intentions and consumer uncertainty related to high technology products of China, therefore, the consumers of the Huawei brand were selected.FindingsThe findings revealed a negative influence of country of origin image on consumer purchase intentions both directly and indirectly through consumer uncertainty. Furthermore, the positive brand image of high tech products was found to moderate the effect of country of origin image on consumer uncertainty.Originality/valueThis study is the first of its kind that explores the intervening role of consumer uncertainty between country of origin image and consumer purchase intention in an emerging market. In addition, the study highlights the importance of strong brand image as it buffers consumer uncertainty because of stereotypes.
23 citations
TL;DR: In this article , the authors explored the relationship between employees' social media use, psychological well-being (PW) and innovative work performance (IP) and found that WSMU has a positive and direct effect on IP.
Abstract: PurposeRecently, work-related social media use (WSMU) in organisations and its association with employee outcomes have received considerable research attention. This study examines the association between WSMU, psychological well-being (PW) and innovative work performance (IP). In addition, it explores the mediating role of PW and the moderating role of fear of missing out (FoMO).Design/methodology/approachA sample of 233 employees working in different organisations was recruited from India to complete the survey. Structural equation modelling was applied to analyse the data.FindingsThe result reveals that WSMU has a positive and direct effect on IP. Moreover, the indirect effect via PW among the association was positive and significant. Furthermore, FoMO moderates the indirect relationship between WSMU and IP.Originality/valueThis research is a pioneering work that has contributed to the scarce literature by exploring the relationship between employees' social media use, PW and IP. This research has important theoretical and management contributions because it examines the impact of WSMU on IP, mediating role of PW and moderating role of FoMO among the association between WSMU and employee outcomes.
22 citations
TL;DR: In this paper , the authors investigate how supply chain data analytics enable the effective deployment of agility, adaptability and alignment (3As) strategies, resulting in improving post-COVID disruption performance.
Abstract: Purpose The abrupt outbreak of coronavirus disease (COVID-19) hit every nation in 2020–2021, causing a worldwide pandemic. The worldwide COVID-19 epidemic, described as a “black swan”, has severely disrupted manufacturing firms' supply chain. The purpose of this study is to investigate how supply chain data analytics enable the effective deployment of agility, adaptability and alignment (3As) strategies, resulting in improving post-COVID disruption performance. It also analyses the indirect effect of supply chain data analytics on disruption performance through the 3As supply chain strategies. Design/methodology/approach The hypothesis and theoretical framework were tested using a questionnaire survey. The authors employed structural equation modelling through the SMART PLS version 3.2.7 to analyse data from 163 textile firms located in Pakistan. Findings The results revealed that the supply chain data analytics contributed positively and significantly to the agility and adaptability, while all 3As supply chain strategies impacted the PPERF substantially. Further, the connection between supply chain data analytics (SCDA) and disruption performance has substantially been influenced through 3As supply chain strategies. Practical implications The results imply that in the event of low likelihood, high effect disruptions, managers and decision-makers should focus their efforts on integrating data analytics capabilities with 3As supply chain policies to ensure long-term company success. Originality/value This research sheds fresh light on the importance of data analytics in effectively implementing 3As strategies for sustaining company performance amid COVID-19 disruptions.
17 citations
TL;DR: In this article , the performance of locally focused equity mutual funds (LFEFs) in Saudi Arabia as compared with performance of benchmark funds was investigated, where the Carhart four-factor model was applied to a sample of 39 Saudi Arabian mutual funds using the monthly net asset value per share.
Abstract: PurposeThis paper investigates the performance of locally focused equity mutual funds (LFEFs) in Saudi Arabia as compared with the performance of benchmark funds. More specifically, the focal question pertains to whether Shariah-compliant mutual funds (SMFs) and conventional mutual funds (CMFs) outperform their respective benchmarks. Undertaken in the context of Saudi Arabia's economic planning under Vision 2030, the study offers a foundation for determining whether and the extent to which Shariah-compliant investment strategies are competitive—a matter of considerable importance across 57 Muslim countries.Design/methodology/approachThe Carhart four-factor model is applied to a sample of 39 Saudi Arabian mutual funds (MFs) using the monthly net asset value (NAV) per share. The sample period, April 2007 to October 2016, is considered in its entirety and as three sub-periods, i.e. low-, medium- and high-volatility.FindingsThe results show that the locally focused equity mutual funds (LFEFs) significantly outperformed their benchmark, i.e. the Tadawul All Share Index (TASI), during the full sample period and the low-volatility period. According to the empirical comparison, the CMFs also outperformed their TASI benchmark for the full sample period and the low-volatility period. However, the SMFs neither outperformed nor underperformed their S&P Saudi Arabia Domestic Shariah Index benchmark. That is, for each of the SMFs included in the sample, the Jensen's alpha was insignificant for both the full sample and all three volatility sub-periods.Research limitations/implicationsIn this paper, the four-factor model is used in the context of a single country. The results, therefore, may not be generalizable to the multi-country level in the Gulf Council Cooperation (GCC) region given differences between the member countries in terms of financial structure and economic focus.Practical implicationsThe results reported constitute a useful guide for policymakers and faith-based-sensitive investors concerned about the Shariah compliancy of their portfolios given that there is very little difference between how CMFs and SMFs performed in the focal period. This research can be extended to include other Islamic countries in the GCC region as a basis for identifying optimal investment vehicles, i.e. those most likely to produce high returns at low risk.Originality/valueThe work reported in this paper is original and constitutes a valuable asset for ethnoreligious-sensitive investors. The research has not been published in any capacity and is not under consideration for publication elsewhere.
12 citations
TL;DR: In this paper , structural equation modeling was utilized to explore the association of four antecedents: digital entrepreneurial competence, innovative cognition, social media adroitness and digital entrepreneurship role models on the goal intentions.
Abstract: PurposeDigital entrepreneurship is a highly topical, sub-specialist and contemporary branch of entrepreneurship which is providing ever-increasing range of platforms for pursuing entrepreneurship-related career options. While the academic discourses in this area are increasingly growing, there is an equal level of scant attention paid to inquire how proclivity toward this career choice is developed and influenced. In the present study, this gap has been addressed by identifying major antecedents of digital entrepreneurship intentions under the aegis of capital theory.Design/methodology/approachUsing the survey data from 287 respondents, structural equation modeling was utilized to explore the association of four antecedents: digital entrepreneurial competence, innovative cognition, social media adroitness and digital entrepreneurship role models on the goal intentions. Subsequently the association between goal intention and implementation intention to start a digital venture was also examined.FindingsThe analysis confirms the significant impact of the identified antecedents on the digital entrepreneurial volition of potential entrepreneurs. Our results demonstrate that innovativeness has the greatest impact on the goal intentions to create new digital ventures followed by the presence of role models. Digital competence is also a significant contributor in enhancing the propensity to start digital ventures while being digitally adroit has the least impact on such inclination. Lastly, our study provides empirical evidence to the linkage between goal and implementation intentions.Originality/valueThis paper informs practice on entrepreneurship education especially the role of skill-based education programs to enhance the information technology–related knowledge of students and incubation support for hands-on-training on the various dimensions of digital ventures. At policy-level institutions providing entrepreneurial education can design special tasks and learning activities that are focused on acquainting students with design thinking perspectives and lean start-up approaches.
12 citations
TL;DR: Based on social exchange theory, the authors investigated managers' perceptions of using artificial intelligence in business for effective operations during the COVID-19 pandemic, and found that using AI in supply chain management, inventory management, business models, and budgeting are positively associated with managers' satisfaction as mentioned in this paper .
Abstract: Purpose The pressure to survive in a highly competitive market by using artificial intelligence (AI) has further demonstrated the need for automation in business operations during a crisis, such as COVID-19. Prior research finds managers' mixed perceptions about the use of technology in business, which underscores the need to better understand their perceptions of adopting AI for automation in business operations during COVID-19. Based on social exchange theory, the authors investigated managers' perceptions of using AI in business for effective operations during the COVID-19 pandemic. Design/methodology/approach This study collected data through a survey conducted in China ( N = 429) and ran structural equation modeling to examine the proposed research model and structural relationships using Smart PLS software. Findings The results show that using AI in supply chain management, inventory management, business models, and budgeting are positively associated with managers' satisfaction. Further, the relationship between managers' satisfaction and effective business operations was found to be positively significant. In addition, the findings suggest that top management support and the working environment have moderating effects on the relationship between managers' satisfaction and effective business operations. Practical implications The results of this study can guide firms to adopt an AI usage policy and execution strategy, according to managers' perceptions and psychological responses to AI. Social implications The study can be used to manage the behavior of managers within organizations. This will ultimately improve society's perception of the employment of AI in business operations. Originality/value The study's outcomes provide valuable insights into business management and information systems with AI application as a business response to any crisis in the future.
10 citations
TL;DR: In this article , two decision-making tools are integrated to analyze the most critical barriers: interpretive structural modeling (ISM) and the matrix of cross-impact multiplications applied to classification (MICMAC).
Abstract: PurposeThe recent pandemic caused by coronavirus disease 2019 (COVID-19) has significantly impacted the operational performances of pharmaceutical supply chains (SCs), especially in emerging economies that are critically vulnerable due to their inadequate resources. Finding the possible barriers that continue to impede the sustainable performance of SCs in the post-COVID-19 era has become essential. This study aims to investigate and analyze the barriers to achieving sustainability in the pharmaceutical SC of an emerging economy in a bid to help decision-makers recognize the most influential barriers.Design/methodology/approachTo achieve the goals, two decision-making tools are integrated to analyze the most critical barriers: interpretive structural modeling (ISM) and the matrix of cross-impact multiplications applied to classification (MICMAC). In contrast to other multi-criteria decision-making (MCDM) approaches, ISM develops a hierarchical decision tool for decision-makers and cluster analysis of the barriers using the MICMAC method based on their driving and dependency powers.FindingsThe findings reveal that the major barriers are in a four-level hierarchical relationship where “Insufficient SC strategic plans to ensure agility during crisis” acts as the most critical barrier, followed by “Poor information structure among SC contributors,” and “Inadequate risk management policy under pandemic.” Finally, the MICMAC analysis validates the findings from the ISM approach.Originality/valueThis study provides meaningful insights into barriers to achieving sustainability in pharmaceutical SCs in the post-COVID-19 era. The study can help pharmaceutical SC practitioners to better understand what can go wrong in post-COVID-19, and develop actionable strategies to ensure sustainability and resilience in practitioners' SCs.
10 citations
TL;DR: In this paper , the authors explored the relationship between natural resources and economic growth of Brunei Darussalam, an underresearched area in the available literature, and provided evidence about the positive and significant role that natural resources have played in the economic growth.
Abstract: PurposeThis paper explores the relationship between natural resources and economic growth of Brunei Darussalam, an underresearched area in the available literature.Design/methodology/approachAnnual data are sourced from reliable sources for the period 1989–2020. Appropriate cointegration techniques for time series data are employed to estimate the specified models and extract results.FindingsThe results provide evidence about the positive and significant role that natural resources have played in the economic growth of Brunei Darussalam. Similarly, trade openness and domestic investment have also positively and significantly impacted the long-run economic growth. On the other hand, the impacts of government expenditure and the growth of human capital on economic growth are although positive but insignificant statistically in the long run. The short-run results show that natural resources, government expenditures and domestic investment have influenced economic growth both positively and significantly. Moreover, the positive and significant impact of trade openness on economic growth, which was observed in the long run, turned negative and insignificant in the short run. Finally, the insignificant positive relationship between the growth of human capital and economic growth observed in the long run remained the same in the short run.Originality/valueThis paper studies the resource curse hypothesis for Brunei Darussalam for the first time, and therefore, the findings will be of significant interest for policymakers and researchers.
9 citations
TL;DR: In this paper , the authors examined asymmetric multifractality (A-MF) in the leading Middle East and North Africa (MENA) stock markets under different turbulent periods (global financial crisis [GFC] and European sovereign debt crisis [ESDC], oil price crash and COVID-19 pandemic).
Abstract: Purpose This paper examines asymmetric multifractality (A-MF) in the leading Middle East and North Africa (MENA) stock markets under different turbulent periods (global financial crisis [GFC] and European sovereign debt crisis [ESDC], oil price crash and COVID-19 pandemic).Design/methodology/approach This study applies the asymmetric multifractal detrended fluctuation analysis (A-MF-DFA) method of Cao et al. (2013) to identify A-MF and MENA stock market efficiency during the COVID-19 pandemic.Findings The results show strong evidence of different patterns of MF during upward and downward trends. Inefficiency is higher during upward trends than during downward trends in most of the stock markets in the whole sample period, and the opposite is true during financial crises. The Turkish stock market is the least inefficient during upward and downward trends. A-MF intensifies with an increase in scales. The evolution of excessive A-MF for MENA stock returns is heterogeneous. Most of the stock markets are more inefficient during a pandemic crisis than during an oil crash and other financial crises. However, the inefficiency of the Saudi Arabia and Qatar stock markets is highly sensitive to oil price crashes. Overall, the level of inefficiency varies across market trends, scales and stock markets and over time. The findings of this study provide investors and policymakers with valuable insights into efficient investment strategies, risk management and financial stability.Originality/value This paper first explores A-MF in the MENA emerging stock markets. The A-MF analysis provides useful information to investors regarding asset allocation, portfolio risk management and investment strategies during bullish and bearish market states. In addition, this paper examines A-MF under different turbulent periods, such as the GFC, the ESDC, the 2014–2016 oil crash and the COVID-19 pandemic.
9 citations
TL;DR: In this paper , the authors used the Unified Theory of Acceptance and Use of Technology 2 (UTAUT 2) framework for identifying the factors necessary to predict bike-sharing intention among users in India.
Abstract: PurposeBicycle sharing offers a novel way to create smart and sustainable mobility solutions for the future. The purpose of this study is to draw on the Unified Theory of Acceptance and Use of Technology 2 (UTAUT 2) framework for identifying the factors necessary to predict bike-sharing intention among users in India.Design/methodology/approachData were collected through a questionnaire distributed across four major cities in India, and 515 responses were analyzed. A sequential approach was employed to analyze the data using Partial Least Square–Structural Equation Modeling (PLS-SEM) and Fuzzy-set Qualitative Comparative Analysis (fsQCA).FindingsThe findings from PLS analysis revealed that performance expectancy, effort expectancy, facilitating conditions, hedonic motivation and price value are the salient variables that affect users' intentions to participate in bike sharing. In addition, based on fsQCA, six configurations of causal conditions are presented as intermediate solutions that produce the same results. Although antecedent conditions, such as habit and social influence, had an insignificant effect on individuals' BSI, they create conditions sufficient to encourage users' participation in bike sharing in combination with other variables.Research limitations/implicationsA few limitations of this research and the implications of the findings in terms of theory and policy implications are also discussed.Originality/valueThe reported study is one of the earliest to explain bike-sharing adoption in India using the UTAUT 2 model.
TL;DR: In this paper , the authors examined the impact of six events related to the escalating Indo-China border conflicts in 2020 on the Indian stock market, including the role of firm-specific variables, and found that net working capital, current ratio, financial leverage and operating cash flows are significant financial performance indicators and drive cumulative abnormal returns.
Abstract: PurposeThe study aims to examine the impact of six events related to the escalating Indo-China border conflicts in 2020 on the Indian stock market, including the role of firm-specific variables.Design/methodology/approachThis study employs an event-study method on a sample of 481 firms from August 23, 2019 to March 3, 2022. A cross-sectional regression is employed to examine the association between event-led abnormal returns and firm characteristics.FindingsThe results show that, although the individual events reflect heterogeneous effects on stock market returns, the average impact of the event categories is negative. The study also found that net working capital, current ratio, financial leverage and operating cash flows are significant financial performance indicators and drive cumulative abnormal returns. Further, size anomaly is absent, indicating that more prominent firms are resilient to new information.Research limitations/implicationsThe ongoing conflict between Russia and Ukraine is an example of how these disagreements can devolve into a disaster for the parties to the war. Although wars have an impact on markets at the global level, the impacts of border disputes are local. Border disputes are ongoing, and the study's findings can be used to empower investors to make risk-averting decisions that make their portfolios resilient to such events.Originality/valueThis study provides firm-level insight into the impacts of border conflicts on stock markets. The authors compare the magnitude of such impacts on two types of events, namely injuries and casualties due to country-specific border tensions and a government ban on Chinese apps. Key implications for policymakers, stakeholders and academics are presented.
TL;DR: In this paper , the authors examined how ethical leadership (EL) helps to foster workplace spirituality and job satisfaction in the information technology (IT) industry and investigated the mediating role of workplace spirituality.
Abstract: PurposeIn the 21st century, spirituality is becoming an interesting phenomenon in the workplace and has been discussed by academicians, researchers, and practitioners alike. This growing knowledge offers important insights and calls for conceptual and empirical studies on workplace spirituality. Accordingly, the current research aims to examine how ethical leadership (EL) helps to foster workplace spirituality and job satisfaction (JS) in the information technology (IT) industry. Additionally, it investigates the mediating role of workplace spirituality and moderating role of self-efficacy (SE) in the relationship between EL and JS.Design/methodology/approachUsing a cross-sectional design, the data were collected from 268 employees in the IT industry and analyzed on SmartPLS 3.2 using structural equation modeling.FindingsThe findings indicated that EL promotes a sense of spirituality and increases JS. Additionally, results suggested that workplace spirituality partially mediates, and SE moderates the relationship between EL and JS.Practical implicationsThe results suggest that the top executives should work on identifying and developing ethical qualities to promote a sense of meaningfulness (workplace spirituality) and increase JS.Originality/valueThe research provides an important contribution to the academic literature by exploring the role of EL in fostering spirituality among employees and the moderation of SE on the relationship between EL and JS in the services industry.
TL;DR: In this paper , the authors investigate the correlation between uncertainty-fear against COVID-19, corporate social responsibility (CSR) and labor practices issues based on ISO 26000.
Abstract: PurposeThe research aims to profoundly investigate the correlation between uncertainty-fear against COVID-19, corporate social responsibility (CSR) and labor practices issues based on ISO 26000.Design/methodology/approachPartial least squares structural equation modeling (PLS-SEM) was adopted for data analysis and hypotheses testing on a sample of 304 managers and employees in the Egyptian small and medium enterprises (SMEs).FindingsPreliminary results indicate that the uncertainty-fear against COVID-19 positively affects CSR practices in SMEs. CSR positively impacts labor practices dimensions. However, CSR has an insignificant effect on the social protection and work condition dimension. Also, CSR has a significant mediating role in the association between uncertainty-fear toward the pandemic and labor practices. But, this relation is insignificant regarding social protection and work condition dimension.Practical implicationsManagers could develop a consistent strategy for applying CSR practices, providing clear information and focusing on their procedures to protect their workforce during COVID-19. Governments should impose policies to guarantee that all employees have the same opportunities and not discriminate directly or indirectly in any labor practice.Originality/valueBased on both the “stakeholder” and “social-cognitive” theories, this study shed light on the optimistic side of the COVID-19 pandemic, as it also brings the concepts of social responsibility, sustainability and green practices back into the light, which helps in solving labor issues.
TL;DR: In this paper , the authors examined the impact of ownership structure and board characteristics on firm value, and the moderating effects of board gender diversity (women appearance on board) and board ethnic diversity (Chinese, Indian, and Foreign ethnicities) on the relationship between ownership structure, board characteristics, and firm value.
Abstract: PurposeThis study serves two objectives; first, it examined the impact of ownership structure and board characteristics on firm value; second, the moderating effects of board gender diversity (women appearance on board) and board ethnic diversity (Chinese, Indian, and Foreign ethnicities) have been examined on the relationship between ownership structure, board characteristics, and firm value.Design/methodology/approachThe dynamic model, system generalized method of moments (S-GMM hereafter), is employed to control potential dynamic endogeneity, reverse causality, simultaneity and unobserved heterogeneity persistent in corporate governance-performance relationships during 2006–2017 of 483 Malaysian listed companies.FindingsFindings pertaining to objective one reveal that there is a weak linkage between ownership structure and firm value, whereas board characteristics significantly affect firm performance based on resource dependence theory. While considering the results of objective two, there is mixed evidence of moderating impact of board gender and ethnic diversity on ownership structure, board characteristics and performance nexus.Practical implicationsThe findings of the study are practically significant for regulatory bodies, namely, Bursa Malaysia, Securities Commission (SC) Malaysia, and policymakers to develop guidelines for ownership structure variables. Moreover, Malaysian firms need to disperse their concentrated ownership structure for enhanced firm value. In addition, board characteristics significantly affect firm performance in Malaysian listed companies.Originality/valueThe paper contributes to multiple aspects: first, it examined the impact of ownership structure and board characteristics on firm performance. Second, the moderating effect of board gender and board ethnic diversity contributes to research significant and valuable for the researchers and practitioners. Finally, the study employed S-GMM, controlling for dynamic endogeneity considered a main econometric problem for CG-performance relationships.
TL;DR: In this article , the authors presented an integrated approach including Delphi method, Bayesian, and the Best-Worst-Method (BWM) to identify, assess and evaluate the importance of the key flexible sustainable supply chains (SSC) strategies for the footwear industry in the emerging market context.
Abstract: PurposeThe emerging markets are facing a lot of risks and disruptions across their supply chains (SCs) due to the deadly coronavirus disease 2019 (COVID-19) pandemic. To mitigate the significant post-COVID-19 consequences, organizations should modify their existing strategies and focus more on the key flexible sustainable SC (SSC) strategies. Still now, a limited number of studies have highlighted about the flexible strategies what firms should adopt to reduce the rampant effects in the context of emerging markets.Design/methodology/approachThis study presents an integrated approach including Delphi method, Bayesian, and the Best-Worst-Method (BWM) to identify, assess and evaluate the importance of the key flexible SSC strategies for the footwear industry in the emerging market context.FindingsThe results found the manufacturing flexibility through automation integration as the most important flexible SSC strategy to improve the flexibility and sustainability of modern SCs. Also, developing omni-channel distribution and retailing strategies and increasing the level of preparedness by using artificial intelligent are crucial strategies for overcoming the post-COVID-19 impacts.Originality/valueThe novelty of this research is that the research connects a link among flexible strategies, SCs sustainability, and the impacts of the COVID-19 pandemic. Moreover, the research proposes a novel and intelligent framework based on Delphi and Bayesian-BWM to identify and analyze the key flexible SSC strategies to build up sustainable and robust SCs which can withstand in the post-COVID-19 world.
TL;DR: In this paper , the authors investigate the risk-hedging and/or safe haven properties of environmental, social and governance (ESG) index during the COVID-19 in China.
Abstract: PurposeThe aim of the paper is to investigate the risk-hedging and/or safe haven properties of environmental, social and governance (ESG) index during the COVID-19 in China.Design/methodology/approachThis paper employs the DCC, VCC, CCC as well as Newey–West estimator regression.FindingsThe findings provide empirical evidence of the risk hedging properties of ESG indexes as well as of the environmental, social and governance thematic indexes during the outbreak of the COVID-19 crisis. The results also support the superior risk hedging properties of ESG indexes over cryptocurrency. However, the authors do not find any safe haven properties of ESG, Bitcoin, gold and West Texas Intermediate (WTI).Practical implicationsThe paper offers therefore, practical policy implications for asset managers, central bankers and investors suggesting the pandemic risk-hedging opportunities of ESG investments.Originality/valueThe study represents one of the first empirical contributions examining safe-haven and hedging properties of ESG indexes compared to traditional and innovative safe haven assets, during the eruption of the COVID-19 crisis.
TL;DR: In this article , the mediating role of overconfidence bias and financial literacy (FL) on the relationship between PTs and investment intention (II) has been examined, and it has been found that the PTs of an individual investor are associated with FL and II but insignificant with OC bias.
Abstract: PurposeThe purpose of this study is to examine the role of personality traits (PTs) of individual investors on their investment intention (II). Further, to study the mediating role of overconfidence (OC) bias and financial literacy (FL) on the relationship between PTs and II.Design/methodology/approachThe present study uses the quantitative approach for the data collection from the sample of 327 Indian investors investing in the stock market. The questionnaire was divided into segments to assess the investor’s PTs, OC, FL and II. The PT has been measured using the Big Five Personality Traits. Confirmatory factor analysis was used to test the reliability and validity of the constructs. The hypothesis was tested using structural equation modeling.FindingsFindings of the study show that the PTs of an individual investor are associated with FL and II but insignificant with OC bias. Further, the FL and OC bias have a positive and significant influence on II. In addition, the mediation analysis showed that FL partly mediates the relationship between PTs and II.Practical implicationsThe present study is helpful for financial companies, government, personal finance advisors and individual investors; they can keep in mind the behavior-related traits that can influence the investment decisions and design the portfolio accordingly. The policy-makers can implement programs on FL to enhance investment decisions in India.Originality/valueThis paper is unique that covers the mediating role of psychological bias, i.e. OC bias and FL, between the PTs and II of an Indian investor.
TL;DR: In this paper , the authors used SPSS 24.0 software to perform hypothesis testing on the path relationships between model elements to explain the relationship between AI technology stimuli and smart customer experience.
Abstract: Purpose This research clarifies the connotations and dimensions of artificial intelligence (AI) technology stimulation and establishes a stimulus scale to explain the relationship between AI technology stimuli and smart customer experience. Design/methodology/approach This is an empirical study that uses SPSS 24.0 software to perform hypothesis testing on the path relationships between model elements. Findings Two dimensions of AI technology stimuli (i.e. passion and usability) have a significant, positive impact on smart customer experience; the moderating effects of contrasting dimensions of technology readiness (i.e. optimism and discomfort) are significantly different; smart customer experience has a significant, positive impact on the word-of-mouth (WOM) intentions of consumers. Research limitations/implications There are several limitations. Most importantly, the data collected in this study are only from consumers who use intelligent customer service robots in the catering industry. Future research can consider exploring relevant AI technologies in other sectors. Practical implications This study has several implications that guide catering companies to develop various positioning and strategies for remaining competitive effectively. Originality/value Based on arousal theory, customer experience theory and WOM marketing theory, this is the first novel research project that empirically discusses the dimensions of AI technology stimuli, smart customer experience and WOM intentions with regard to the moderating effect of the technology readiness of consumers toward AI technology.
TL;DR: In this paper , the influence of non-supply chain learning, green customer knowledge, green supplier knowledge and green logistics knowledge on green innovation and green corporate reputation is explored for small and medium enterprises.
Abstract: Purpose The growing relevance of environmental sustainability calls for identification of factors that contribute to green innovation and build green corporate reputation. Drawing on the resource-based view theory, this study aims to explore the influence of green logistics knowledge, green customer knowledge, green supplier knowledge, green competitor knowledge, non-supply chain learning on green innovation and green corporate reputation.Design/methodology/approach This study adopts the quantitative research method where questionnaire is used to gather data from managers of the sampled 208 small and medium enterprises (SMEs). The structural equation modelling is used to analyse the survey data and test the proposed hypotheses.Findings The findings reveal that non-supply chain learning, green customer knowledge and green competitor knowledge have both direct and indirect impact on green innovation and green corporate reputation. However, green supplier knowledge and green logistics knowledge directly impact green innovation but indirectly impact green corporate reputation through green innovation.Originality/value Despite the growing literature exploring the relationship between learning, innovation and reputation, their literature in emerging economies remains underdeveloped. This study provides empirical evidence to confirm the role of non-supply chain learning and green supply chain knowledge in building green corporate reputation and developing green innovation of SMEs in an emerging economy.
TL;DR: In this article , the authors examined whether family control exerts any influence on corporate cash holdings in Indian listed firms and examined how this accumulated cash of family firms impacts firm value and found that family control negatively impacts cash holdings.
Abstract: Purpose This paper examines whether family control exerts any influence on corporate cash holdings in Indian listed firms. It also examines how this accumulated cash of family firms impacts firm value. Design/methodology/approach The study uses dynamic panel data regression estimated using two-step system generalized method of moments (GMM) on S&P BSE 500 firms during 2009–2018 for testing the repercussions of family control on the cash levels of a firm. Further, fixed effects regression has been employed for the valuation analysis. Findings Estimation results showed that family control negatively impacts cash holdings in Indian firms. Further, the cash accumulation by family firms adversely affects the market valuation of the firm. These findings signal a principal–principal (P-P) agency conflict in Indian family firms, i.e. friction between family owners and minority shareholders' interests. Minority shareholders fear that a part of the cash reserves will be used by family members for personal benefits. Thus, they discount cash reserves in family firms. Originality/value The study adds to the determinants of corporate cash holdings in emerging markets. To the best of the authors’ knowledge, this is the first study from India investigating family control as a determinant of cash policy. It sheds light on the P-P agency conflict in Indian family firms. P-P agency conflict is less researched in cash holdings literature as opposed to the principal–agent managerial disputes. Also, the study uses a more comprehensive definition of family control rather than just considering the ownership as used in prior cash holding research.
TL;DR: In this article , the role of the stakeholder's relationship with supply chain resilience (SCR) and organizational performance was investigated using the lens of stakeholder theory in the manufacturing and service industry.
Abstract: PurposeThe aim of this paper is to investigate the role of the stakeholder's relationship with supply chain resilience (SCR) and organizational performance (OP) using the lens of stakeholder theory in the manufacturing and service industry. Investigating the supply chain community in Pakistan, this paper explores the relationship between SCR, OP and the stakeholder's relationship (including customers and suppliers).Design/methodology/approachA partial least square (PLS) – structural equation modeling (SEM) technique using SmartPLS 3.3.3 was used to test the hypotheses. Data were collected through a survey (questionnaire) completed by 202 supply chain representatives. All respondents were supply chain professionals working in different organizations in Pakistan.FindingsThe findings of the study revealed that supplier relationship (SR) and customer relationship (CR) have a positive and significant impact on SCR and a positive and significant relationship between SCR and OP. A positive and significant relationship between customer relationship and OP was also noted. The mediating role of SCR is also found positive and significant.Practical implicationsThe outcomes of the study will help managers to strengthen SCR through relationship management. The study is also helpful to increase OP through stakeholder management.Originality/valueThis study empirically tests an inclusive model with a PLS-SEM technique where SCR plays a mediating role in the mechanism, which is crucial since the supplier and customer (stakeholder) relationship has been never tested to gauge the OP by positioning SCR as a mediator while using the lens of stakeholder theory.
TL;DR: In this paper , the authors investigated the impact of financial development of an economy on the achievement of sustainable development goals (SDGs) and found that financial development positively impacts the progress towards SDG achievement in the areas: (1) gender equality, economic growth, industry, innovation and infrastructure and sustainable cities and communities; and adversely impacts the climate action.
Abstract: PurposeAchieving sustainable development goals (SDGs) demands mobilising finance and aligning it with elements of sustainability. This study, thus, aims to investigate the impact of financial development of an economy on the achievement of SDGs.Design/methodology/approachThe authors analyse a sample of 35 Asian countries based on their SDG trends and representative SDG indicators. An ordered probit model is employed for analysing the impact of financial development on the SDG trend. Subsequently, pairwise Granger causality test is employed for investigating the causality between the SDG and the financial development.FindingsThe findings indicate that financial development positively impacts the progress towards SDG achievement in the areas: (1) gender equality, (2) economic growth, (3) industry, innovation and infrastructure and (4) sustainable cities and communities; and adversely impacts the climate action. The causality test indicates a bidirectional causality for financial development and industry, infrastructure and innovation, financial development and sustainable cities and communities and financial development and climate action, and unidirectional causality from gender equality to financial development.Research limitations/implicationsThe findings have implications for the government of a nation as well as the private businesses. The goals allow businesses to implement well-articulated strategies which pay attention to the SDGs.Originality/valueThe novelty of the paper is that the authors provide evidence supporting the view that focusing on building a resilient and robust financial system is of importance for the achievement of SDGs.
TL;DR: In this article , an online survey of artificial intelligence chatbots users was conducted, and a mixed-methods research design involving response surface analysis and polynomial regression was adopted to address the research aim.
Abstract: PurposeThis study serves two purposes: (1) to evaluate the effects of organizational ambidexterity by examining how the balanced and the combined sales–service configurations of chatbots differ in their abilities to enhance customer experience and patronage and (2) to apply information boundary theory to assess the contingent role that chatbot sales–service ambidexterity can play in adapting to customers' personalization–privacy paradox.Design/methodology/approachAn online survey of artificial intelligence chatbots users was conducted, and a mixed-methods research design involving response surface analysis and polynomial regression was adopted to address the research aim.FindingsThe results of polynomial regressions on survey data from 507 online customers indicated that as the benefits of personalization decreased and the risk to privacy increased, the inherently negative (positive) effects of imbalanced (combined) chatbots' sales–service ambidexterity had an increasing (decreasing) influence on customer experience. Furthermore, customer experience fully mediated the association of chatbots' sales–service ambidexterity with customer patronage.Originality/valueFirst, this study enriches the literature on frontline ambidexterity and extends it to the setting of human–machine interaction. Second, the study contributes to the literature on the personalization–privacy paradox by demonstrating the importance of frontline ambidexterity for adapting to customer concerns. Third, the study examines the conduit between artificial intelligence (AI) chatbots' ambidexterity and sales performance, thereby helping to reconcile the previously inconsistent evidence regarding this relationship.
TL;DR: In this paper , the authors examined the key drivers of the adoption of disruptive technologies (DTs) in the digital supply chain (DSC) in developing nations and found that the organizations with higher compatibility and internal IT expertise and competence witness a higher level of adoption of DT.
Abstract: PurposeThe study examines the key drivers of the adoption of disruptive technologies (DTs) in the digital supply chain (DSC) in developing nations.Design/methodology/approachThe data were collected using well-established measures grounded in the diffusion of innovation (DOI) theory. The hypotheses were tested using the structural equation modeling (SEM) approach using SmartPLS. The authors control for the demographics and apply the required statistical diagnostics for robust findings.FindingsThe compatibility and IT expertise were the two key factors in adopting the DTs in DSC in developing nations. The organizations with higher compatibility and internal IT expertise and competence witness a higher level of adoption of DT. The perceived cost and complexity were not found statistically significant. This may be probably because developing nations such as India do not perceive the technology adoption complex.Research limitations/implicationsThe research enhances DTs adoption, assuming it is organizational innovation. This study makes a theoretical contribution to the DOI literature.Practical implicationsThe practicing managers should pay attention to addressing the existing technology compatibility issues and spend efforts on training employees to increase the IT expertise to improve the adoption of DT.Social implicationsThe greater adoption of the DTs in DSCs can reduce wastages in supply chains by a faster sense and response and greater technological flexibility with transparency and information sharing.Originality/valueThe key antecedent to the acceptance of the DTs in developing nations is compatibility than complexity and IT expertise than the cost. The study's originality lies in the fact that most studies on technology adoption study a single technology, but this study captures a holistic view on a group of technologies under industry 4.0.
TL;DR: In this article , a comprehensive analysis of potential antecedents that lead towards sustainable development of freight transportation in emerging markets is provided, where a Neutrosophic Analytic Network Process (N-ANP) method is employed to obtain the priority weights of the identified potential anteectors.
Abstract: PurposeIn past years, the global supply chain has witnessed devastating effects of coronavirus (COVID-19) disease. However, the COVID-19 pandemic has renewed the interest of the Sustainable Supply Chain (SSC) stakeholders on sustainability. The stakeholders are now rethinking their business processes and strategy to make them sustainable. In this context, the relevant literature is required to support emerging markets to formulate sustainability-focussed strategies. The purpose of this study is to provide a comprehensive analysis of potential antecedents that leads towards sustainable development of freight transportation in emerging markets.Design/methodology/approachInitially, the antecedents of the Sustainable Freight Transport (SFT) system are derived from the literature survey followed by verification from the experts. Then, the potential antecedents are categorized under four (social, organizational, operational and environmental) broad categories. Afterwards, a Neutrosophic Analytic Network Process (N-ANP) method is employed to obtain the priority weights of the identified potential antecedents.FindingsThe paper identified and ranked 17 antecedents of the SFT system. According to the study’s findings, the top three antecedents of SFT are “the presence of a multimodal transportation system,” “circularity in SFT” and “traffic congestion management”. The results from the study advocate the promotion of existing multi-modal transport facilities which is promising to achieve sustainability. The results suggested the adoption of the digital twin to manage the transport operations.Originality/valueThis study sheds light on how to achieve sustainability in the freight transportation system post-COVID era highlighting the potential antecedents. The study’s findings will assist practitioners in developing SFT strategies in the face of such pandemics in future.
TL;DR: In this article , the influence of anti-money laundering (AML) regulations on the financial development-economic growth nexus around the world was examined using data from 165 countries spanning continents, income levels, and regulatory regimes from 2012 to 2018.
Abstract: PurposeThis study examines the influence of anti-money laundering (AML) regulations on the financial development-economic growth nexus around the world.Design/methodology/approachThe study uses data from 165 countries spanning continents, income levels, and regulatory regimes from 2012 to 2018. The Prais–Winsten (1954) and Hansen (2000) panel threshold estimation approaches were used to assess the study's hypothesized relationships.FindingsFinancial development, according to the research, generally stimulates economic growth. However, the authors find evidence of AML regulations' threshold effect on the finance-growth connection, with the impact of finance on growth being positive below the threshold value. Above the threshold, however, the authors observe a negative influence. Further, the authors find that AML regulations have a considerable detrimental impact on the finance-growth nexus over the threshold for developed countries. However, the authors find a positive but insignificant effect of finance on growth below the AML regulations threshold for African countries, while finance positively impacts growth above the AML regulations threshold.Practical implicationsThe findings of the study imply that countries must make conscious efforts to combat the incidence of money laundering by establishing policies to improve financial transparency and standards, promoting public sector transparency and accountability, reducing legal and political risk, and combating bribery and corruption.Originality/valueThis study contributes to the literature as it is the first attempt to examine the moderating role of AML regulations in the finance-growth nexus. Also, the study examines the threshold effect of how AML regulations impact the finance-growth nexus.
TL;DR: In this paper , the authors investigated the impact of infrastructure on spurring inward foreign direct investment (FDI) within the purview of human capital, GDP per capita, foreign aid, trade, domestic investment, population and institutional quality in BRI countries.
Abstract: PurposeChina's Belt and Road Initiative (BRI) is the most ambitious investment strategy for infrastructural development belonging to the significant potential for stimulating regional economic growth in Asia, Europe and Africa. This study aims to investigate the impact of infrastructure on spurring inward foreign direct investment (FDI) within the purview of human capital, GDP per capita, foreign aid, trade, domestic investment, population and institutional quality in BRI countries.Design/methodology/approachIn doing so, the authors analyze panel data from 2000 to 2019 within the framework of the system generalized method of movement (GMM) approach for 66 BRI countries from Europe, Asia, Africa and the Middle East.FindingsThe investigated results demonstrate that aggregate and disaggregate infrastructure indices, e.g. transport, telecommunications, financial and energy infrastructures, are the driving forces in attracting foreign direct investment (FDI) in the BRI countries. In addition, control variables (i.e. institutional quality, human capital, trade, domestic investment, foreign aid and GDP per capita) play an essential role in spurring FDI inflows.Originality/valueThe authors’ study uniquely investigates both the pre- (2000–2012) and post- (2013–2019) BRI scenarios using the aggregate and disaggregate infrastructural components from the perspectives of full and clustered sample regions, such as Asia, Europe, Africa and the Middle East. The study provides several policy implications.
TL;DR: In this paper , the authors examined how over-reliance on buyer-supplier relational capital (created through the interconnected supply chain and social network) impacts firm performance in the context of the emerging market, i.e., India.
Abstract: PurposeThe purpose of this paper is to examine how over-reliance on buyer-supplier relational capital (created through the interconnected supply chain and social network) impacts firm performance in the context of the emerging market, i.e. India.Design/methodology/approachThe study uses the Prowess database (on Indian firms) to identify the firms that rely heavily on relational capital and employs panel data regression analyses to test the effect of relational capital on firm performance (supply chain performance and financial performance).FindingsThe results show that over-reliance on relational capital leads to lower supply chain performance (proxied by supply chain cycle) and financial performance (proxied by Tobin's Q). The results also reveal that supply chain performance mediates the relationship between over-reliance on relational capital and financial performance. Together, these results indicate that over-reliance on relational capital created through the interconnected supply chain and social network for supply chain management may negatively affect a firm's competitive advantage, which in turn can significantly impede its financial performance.Originality/valueIn light of the supply chain literature and relevant theories, the study develops an objective understanding of over-reliance relational capital created through the interconnected supply chain and social network, by relying on a large panel dataset of manufacturing firms and hence contributes to the supply chain literature. Also, it presents a novel idea to operationalize the measure for relational capital using the Prowess database.
TL;DR: In this article , the impact of corporate governance (CG) practices and corporate social sustainability (CS) disclosures on default risk of Islamic bonds in an emerging market was investigated by using generalized method of moments (GMM) to examine the mitigating effect of CG structure and CS disclosures on distance to default of sukuk issuers.
Abstract: PurposeMotivated by lack of empirical research on sukuk (Islamic bonds) defaults and factors influencing the credit risk in sukuk industry, the study investigates the impact of corporate governance (CG) practices and corporate social sustainability (CS) disclosures on default risk of Islamic bonds in an emerging market.Design/methodology/approachIn the Malaysian context the authors use generalized method of moments (GMM) to examine the mitigating effect of CG structure and CS disclosures on distance to default (DD) of sukuk issuers.FindingsThe results show that although both CG and CS have a significant and positive relationship with distance to default, the contribution of CS to augment DD is higher. Moreover, different CG variables have a varied relationship with distance to default, while the association is positive for all three pillars of CS, videlicet economic, social and environmental sustainability.Practical implicationsThe findings of the study hold important implications for issuers, subscribers and regulators in the sukuk industry.Originality/valueLimited research investigates the relationship between CG, CS and default risk of Islamic bonds. In light of this, the study attempts to fill the theoretical void in literature by examining the relationship among the underlying variables.