Pub Date : 2019-10-02DOI: 10.1080/10599231.2019.1684172
M. Kavoossi, Jialu Ma
{"title":"China’s Next Strategic Advantage: From Imitation to Innovation","authors":"M. Kavoossi, Jialu Ma","doi":"10.1080/10599231.2019.1684172","DOIUrl":"https://doi.org/10.1080/10599231.2019.1684172","url":null,"abstract":"","PeriodicalId":15043,"journal":{"name":"Journal of Asia-Pacific Business","volume":"20 1","pages":"351 - 352"},"PeriodicalIF":0.0,"publicationDate":"2019-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10599231.2019.1684172","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45235716","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-10-02DOI: 10.1080/10599231.2019.1684168
Meeta Dasgupta
ABSTRACT According to the dynamic capabilities view, a volatile business environment requires organizations to constantly adjust to changes, and be dynamic with respect to the value they create for their customers, and capturing of that value. A research agenda requiring an understanding of the elements and process of business model innovation in response to increasing environmental volatility is required. The research through multiple case studies of Indian banks identifies the integrative nature of different elements of the business model and the business model redesign themes used by banks to counter volatility in the business environment.
{"title":"Business Model Innovation: Responding to Volatile Business Environment in the Indian Banking Industry","authors":"Meeta Dasgupta","doi":"10.1080/10599231.2019.1684168","DOIUrl":"https://doi.org/10.1080/10599231.2019.1684168","url":null,"abstract":"ABSTRACT According to the dynamic capabilities view, a volatile business environment requires organizations to constantly adjust to changes, and be dynamic with respect to the value they create for their customers, and capturing of that value. A research agenda requiring an understanding of the elements and process of business model innovation in response to increasing environmental volatility is required. The research through multiple case studies of Indian banks identifies the integrative nature of different elements of the business model and the business model redesign themes used by banks to counter volatility in the business environment.","PeriodicalId":15043,"journal":{"name":"Journal of Asia-Pacific Business","volume":"20 1","pages":"260 - 280"},"PeriodicalIF":0.0,"publicationDate":"2019-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10599231.2019.1684168","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45932477","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-10-02DOI: 10.1080/10599231.2019.1684167
R. Ajami
Conflict is on the horizon between China and the United States. Leading-edge US tech companies related to artificial intelligence sectors are going to be subject to more limitations as well as restrictions on Chinese multinational firms. Other sectors are likely to follow though no final US legislation is enacted. Equally the same can be said of China. The climate for direct foreign investment linkages between US and Chinese multinationals will face far more scrutiny by both the United States and China. This might not bode well for Asia-Pacific corporate linkages. Made in America is a new mantra that President Trump utters, demanding that many products from Harley-Davidson motorcycles to many goods available on the shelf at Wal-Mart be manufactured here. The Chinese have their own slogans – Made in China 2025 is uttered with equal vigor and determination by the Chinese leadership, suggesting that many sectors from robots to aerospace to others should be manufactured in the country. They deem these to be industries important to China’s new place in the global economy. President Trump also believes that a healthy manufacturing industry in various sectors should be carried out within the borders of the United States. As such, the President keeps suggesting that American companies should stay closer to home. Moreover, there is a sentiment toward further China-specific restrictions implemented by the Committee on Foreign Investment in the United States (CFIUS). This interagency is being asked to review all in-bound foreign investment, particularly from China, and the President also asked the Department of Commerce to review all US export controls. America’s inward investment restrictions and our export rules, regulations, and controls are also being increased by the Foreign Investment Risk Review Modernization Act (FIRRMA), a bipartisan law that could come in the next few months. The increasing scope of review by CFIUS will expand and strengthen and limit the controls on the export of US sensitive and high-tech industries. The United States House of Representatives has already moved in that direction. Chinese state-owned oil companies are going to be facing further scrutiny and are likely to be diminishing. If China wishes to improve its economic gross domestic product (GDP) prospects, it will further push the state-owned companies and other private firms in China to look a little more inward and focus on small businesses. Referring to CFIUS activities, of the 387 transactions reviewed by that agency focusing on Chinese inward investment to the US, some have been blocked and coupled with Chinese capital controls on Chinese money to the US. The scrutiny by that agency, as well as FIRRMA, is likely to increase. Echoes of the past are at play here. Historically, the United States Congress and CFIUS responded to the Organization of Petroleum Exporting Countries’ (OPEC) investments and Japanese investments by attempting to limit foreign, Japanese, and OPEC
{"title":"Global Reach and Challenges across the Pacific","authors":"R. Ajami","doi":"10.1080/10599231.2019.1684167","DOIUrl":"https://doi.org/10.1080/10599231.2019.1684167","url":null,"abstract":"Conflict is on the horizon between China and the United States. Leading-edge US tech companies related to artificial intelligence sectors are going to be subject to more limitations as well as restrictions on Chinese multinational firms. Other sectors are likely to follow though no final US legislation is enacted. Equally the same can be said of China. The climate for direct foreign investment linkages between US and Chinese multinationals will face far more scrutiny by both the United States and China. This might not bode well for Asia-Pacific corporate linkages. Made in America is a new mantra that President Trump utters, demanding that many products from Harley-Davidson motorcycles to many goods available on the shelf at Wal-Mart be manufactured here. The Chinese have their own slogans – Made in China 2025 is uttered with equal vigor and determination by the Chinese leadership, suggesting that many sectors from robots to aerospace to others should be manufactured in the country. They deem these to be industries important to China’s new place in the global economy. President Trump also believes that a healthy manufacturing industry in various sectors should be carried out within the borders of the United States. As such, the President keeps suggesting that American companies should stay closer to home. Moreover, there is a sentiment toward further China-specific restrictions implemented by the Committee on Foreign Investment in the United States (CFIUS). This interagency is being asked to review all in-bound foreign investment, particularly from China, and the President also asked the Department of Commerce to review all US export controls. America’s inward investment restrictions and our export rules, regulations, and controls are also being increased by the Foreign Investment Risk Review Modernization Act (FIRRMA), a bipartisan law that could come in the next few months. The increasing scope of review by CFIUS will expand and strengthen and limit the controls on the export of US sensitive and high-tech industries. The United States House of Representatives has already moved in that direction. Chinese state-owned oil companies are going to be facing further scrutiny and are likely to be diminishing. If China wishes to improve its economic gross domestic product (GDP) prospects, it will further push the state-owned companies and other private firms in China to look a little more inward and focus on small businesses. Referring to CFIUS activities, of the 387 transactions reviewed by that agency focusing on Chinese inward investment to the US, some have been blocked and coupled with Chinese capital controls on Chinese money to the US. The scrutiny by that agency, as well as FIRRMA, is likely to increase. Echoes of the past are at play here. Historically, the United States Congress and CFIUS responded to the Organization of Petroleum Exporting Countries’ (OPEC) investments and Japanese investments by attempting to limit foreign, Japanese, and OPEC","PeriodicalId":15043,"journal":{"name":"Journal of Asia-Pacific Business","volume":"20 1","pages":"257 - 259"},"PeriodicalIF":0.0,"publicationDate":"2019-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10599231.2019.1684167","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42732725","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-07-03DOI: 10.1080/10599231.2019.1647075
R. Ajami
Globalization has prompted nations to forge economic links with their former political antagonists. This has made it difficult for a country to follow a course that is unacceptable to its trading strategic partners. In today’s world of economic realism and political pragmatism, ideals in and of themselves are not enough; in order for political decisions to make sense, they must be cost effective as well. The attack on two oil tankers in the Gulf of Oman and the Strait of Hormuz, coupled with the prior attacks on four other tankers added uncertainty regarding global oil supplies and consumer prices at the pump. Global oil markets need the Strait of Hormuz to remain open and conflict free. An estimated 17 million barrels of oil per day are transported through the Strait under the eyes of the US Navy’s Fifth Fleet. This represents an estimated 35% to 40% of global oil supplies destined to Asian consumers – China, Japan, Korea, and India – and other global consumers among G20 countries. According to President Trump, China’s dependency on Middle Eastern oil imports are estimated to represent about 90% of China’s oil needs. Japan’s oil imports are estimated at 62%. India, Korea, and Singapore are also dependent on Middle Eastern oil supplies. President Trump labeled these oil market sales between Gulf oil producers and other consumers as “free rider” transactions. Currently, the US is the leading global oil producer at over 11mbd, and we are less dependent on Middle Eastern oil than some of our leading Asian competitors. The US is the largest global oil consumer at an estimated 19mbd, out of a global daily oil market estimated at 95mbd. To guarantee the free transport of oil through the Strait of Hormuz, a new multilateral agreement is needed. The G20 should call for a new “Gulf Oil Security and Market Access Protocol on Oil and Natural Gas Exports.” The estimated production cost of a barrel of oil from the Gulf oil producers is less than $12/barrel. Adding a USD 30 – USD 40 surcharge for Persian oil exports would represent a true price for Persian Gulf oil exports. This market access security surcharge, if paid for by all Persian Gulf oil exporting countries, including Iran, could create a stable floor for the price of oil and reduce risk, stabilize the market, and provide certainty for global oil consumers. This could represent an oil price framework at an estimated $60 – $70/barrel and would truly reflect the cost of a traded barrel of Gulf oil and could be a marker for Brent and WTI oil trade. This should apply to Arab oil exports and those of Iran, the latter who would pay this surcharge and could then join global oil exporters. This suggested price framework could represent a new business model for pricing Gulf oil that incorporates both the production costs and the market access and risks and could help stabilize global oil prices. Moreover, this could create a win-win situation for US oil producers, including shale, and help protect US vital an
{"title":"Global Oil Supplies and Asia Pacific Economies: Dependencies and Challenges","authors":"R. Ajami","doi":"10.1080/10599231.2019.1647075","DOIUrl":"https://doi.org/10.1080/10599231.2019.1647075","url":null,"abstract":"Globalization has prompted nations to forge economic links with their former political antagonists. This has made it difficult for a country to follow a course that is unacceptable to its trading strategic partners. In today’s world of economic realism and political pragmatism, ideals in and of themselves are not enough; in order for political decisions to make sense, they must be cost effective as well. The attack on two oil tankers in the Gulf of Oman and the Strait of Hormuz, coupled with the prior attacks on four other tankers added uncertainty regarding global oil supplies and consumer prices at the pump. Global oil markets need the Strait of Hormuz to remain open and conflict free. An estimated 17 million barrels of oil per day are transported through the Strait under the eyes of the US Navy’s Fifth Fleet. This represents an estimated 35% to 40% of global oil supplies destined to Asian consumers – China, Japan, Korea, and India – and other global consumers among G20 countries. According to President Trump, China’s dependency on Middle Eastern oil imports are estimated to represent about 90% of China’s oil needs. Japan’s oil imports are estimated at 62%. India, Korea, and Singapore are also dependent on Middle Eastern oil supplies. President Trump labeled these oil market sales between Gulf oil producers and other consumers as “free rider” transactions. Currently, the US is the leading global oil producer at over 11mbd, and we are less dependent on Middle Eastern oil than some of our leading Asian competitors. The US is the largest global oil consumer at an estimated 19mbd, out of a global daily oil market estimated at 95mbd. To guarantee the free transport of oil through the Strait of Hormuz, a new multilateral agreement is needed. The G20 should call for a new “Gulf Oil Security and Market Access Protocol on Oil and Natural Gas Exports.” The estimated production cost of a barrel of oil from the Gulf oil producers is less than $12/barrel. Adding a USD 30 – USD 40 surcharge for Persian oil exports would represent a true price for Persian Gulf oil exports. This market access security surcharge, if paid for by all Persian Gulf oil exporting countries, including Iran, could create a stable floor for the price of oil and reduce risk, stabilize the market, and provide certainty for global oil consumers. This could represent an oil price framework at an estimated $60 – $70/barrel and would truly reflect the cost of a traded barrel of Gulf oil and could be a marker for Brent and WTI oil trade. This should apply to Arab oil exports and those of Iran, the latter who would pay this surcharge and could then join global oil exporters. This suggested price framework could represent a new business model for pricing Gulf oil that incorporates both the production costs and the market access and risks and could help stabilize global oil prices. Moreover, this could create a win-win situation for US oil producers, including shale, and help protect US vital an","PeriodicalId":15043,"journal":{"name":"Journal of Asia-Pacific Business","volume":"20 1","pages":"163 - 165"},"PeriodicalIF":0.0,"publicationDate":"2019-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10599231.2019.1647075","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48835775","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-07-03DOI: 10.1080/10599231.2019.1647079
Craig R. Parsons, D. Nguyen, Xavier de Vanssay
ABSTRACT We present a simple, yet powerful, battery of univariate and panel unit root tests on market shares to draw some inferences regarding the level of rivalry within an industry. As an application, we employ them on the Japanese tire industry over a 40-year period. We find that rivalry seems to be present among the smaller firms, while at the same time, the dominant firm seems unperturbed by the competition. We compare these conclusions with a previous study of the industry.
{"title":"New Evidence of Market Competition in the Japanese Tire Industry Using Market Share Analysis","authors":"Craig R. Parsons, D. Nguyen, Xavier de Vanssay","doi":"10.1080/10599231.2019.1647079","DOIUrl":"https://doi.org/10.1080/10599231.2019.1647079","url":null,"abstract":"ABSTRACT We present a simple, yet powerful, battery of univariate and panel unit root tests on market shares to draw some inferences regarding the level of rivalry within an industry. As an application, we employ them on the Japanese tire industry over a 40-year period. We find that rivalry seems to be present among the smaller firms, while at the same time, the dominant firm seems unperturbed by the competition. We compare these conclusions with a previous study of the industry.","PeriodicalId":15043,"journal":{"name":"Journal of Asia-Pacific Business","volume":"20 1","pages":"235 - 256"},"PeriodicalIF":0.0,"publicationDate":"2019-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10599231.2019.1647079","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46599668","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-07-03DOI: 10.1080/10599231.2019.1647077
Juan Ling, Lei Xu, Weiqi Zhang
ABSTRACT Who benefit from a transitioning economy, entrepreneurs who are politically connected or disconnected? Market transition theory and power conversion theory offer two divergent answers. Our study seeks to contribute to this debate by examining the contingent value of entrepreneurs’ political capital. We draw from social network theories and investigate whether and how entrepreneurs’ social networks influence the relationship between their political capital and social mobility. Using the data on Chinese entrepreneurs, we find that the impact of political capital on entrepreneurs’ social mobility is contingent on their network centrality. Practical implications and suggestions for future research are also discussed.
{"title":"The Contingent Value of Entrepreneurs’ Political Capital: Evidence from China","authors":"Juan Ling, Lei Xu, Weiqi Zhang","doi":"10.1080/10599231.2019.1647077","DOIUrl":"https://doi.org/10.1080/10599231.2019.1647077","url":null,"abstract":"ABSTRACT Who benefit from a transitioning economy, entrepreneurs who are politically connected or disconnected? Market transition theory and power conversion theory offer two divergent answers. Our study seeks to contribute to this debate by examining the contingent value of entrepreneurs’ political capital. We draw from social network theories and investigate whether and how entrepreneurs’ social networks influence the relationship between their political capital and social mobility. Using the data on Chinese entrepreneurs, we find that the impact of political capital on entrepreneurs’ social mobility is contingent on their network centrality. Practical implications and suggestions for future research are also discussed.","PeriodicalId":15043,"journal":{"name":"Journal of Asia-Pacific Business","volume":"20 1","pages":"189 - 214"},"PeriodicalIF":0.0,"publicationDate":"2019-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10599231.2019.1647077","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46425187","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-07-03DOI: 10.1080/10599231.2019.1647078
Suteera Detnakarin, Suthinee Rurkkhum
ABSTRACT This study examined the moderating effect of perceived organizational support on the relationship between human resource development practices and organizational citizenship behavior of hotels in Thailand. The results from a survey of 733 frontline employees revealed that the relationship between human resource development practices and organizational citizenship behavior was stronger for employees with the high level of perceived organizational support, compared to employees with the low level of perceived organizational support. Therefore, this finding contributes to a significant understanding of moderating effect of perceived organizational support in service organizations. Discussion and implications are also provided.
{"title":"Moderating Effect of Perceived Organizational Support on Human Resource Development Practices and Organizational Citizenship Behavior","authors":"Suteera Detnakarin, Suthinee Rurkkhum","doi":"10.1080/10599231.2019.1647078","DOIUrl":"https://doi.org/10.1080/10599231.2019.1647078","url":null,"abstract":"ABSTRACT This study examined the moderating effect of perceived organizational support on the relationship between human resource development practices and organizational citizenship behavior of hotels in Thailand. The results from a survey of 733 frontline employees revealed that the relationship between human resource development practices and organizational citizenship behavior was stronger for employees with the high level of perceived organizational support, compared to employees with the low level of perceived organizational support. Therefore, this finding contributes to a significant understanding of moderating effect of perceived organizational support in service organizations. Discussion and implications are also provided.","PeriodicalId":15043,"journal":{"name":"Journal of Asia-Pacific Business","volume":"20 1","pages":"215 - 234"},"PeriodicalIF":0.0,"publicationDate":"2019-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10599231.2019.1647078","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42196990","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-07-03DOI: 10.1080/10599231.2019.1647076
Zhang A. Long, J. Parnell, Eric B. Dent
ABSTRACT Rand’s philosophy of objectivism has enjoyed a recent resurgence of interest in the United States, but little is known about how it is conceptualized in non-Western cultures and how it influences business practice. This paper investigates and supports the existence of a form of objectivism within the Chinese culture, drawing into question the notion that Chinese society is inherently collective. Results concerning an anticipated metaphysical dimension were inconclusive, suggesting that Chinese who embody epistemological, ethical, and political aspects of objectivism lack a corresponding and clear notion of causality, time, and identity.
{"title":"Individualism, Collectivism and Management in China: Does Atlas Shrug in China?","authors":"Zhang A. Long, J. Parnell, Eric B. Dent","doi":"10.1080/10599231.2019.1647076","DOIUrl":"https://doi.org/10.1080/10599231.2019.1647076","url":null,"abstract":"ABSTRACT Rand’s philosophy of objectivism has enjoyed a recent resurgence of interest in the United States, but little is known about how it is conceptualized in non-Western cultures and how it influences business practice. This paper investigates and supports the existence of a form of objectivism within the Chinese culture, drawing into question the notion that Chinese society is inherently collective. Results concerning an anticipated metaphysical dimension were inconclusive, suggesting that Chinese who embody epistemological, ethical, and political aspects of objectivism lack a corresponding and clear notion of causality, time, and identity.","PeriodicalId":15043,"journal":{"name":"Journal of Asia-Pacific Business","volume":"20 1","pages":"166 - 188"},"PeriodicalIF":0.0,"publicationDate":"2019-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10599231.2019.1647076","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48402199","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-04-03DOI: 10.1080/10599231.2019.1610688
Mohammad Tariqul Islam Khan, Siow-Hooi Tan, Lee-Lee Chong
ABSTRACT Investors’ perception of past portfolio returns predicts their investment behavior, but does this relationship mediate by overconfidence? Taking into account different aspects of overconfidence, this paper examines whether overconfidence manifested as illusion of control, miscalibration and better-than-average mediates the association between perception of past portfolio returns and investment behavior. In a survey study with individual and institutional investors from Malaysia, the results indicate that perception of higher past portfolio returns increases investors’ trading, percentage of risky share investment and the number of financial asset holding, through the mediating channel of better-than-average effect. While individual investors are influenced by this overconfidence mechanism, institutional investors are not sensitive. This finding has theoretical implication for overconfidence model, house money effect and naïve reinforcement learning. Practically, the results imply that individual investors should be careful about underlying overconfidence biases as it can lead to inefficient decisions.
{"title":"Overconfidence Mediates How Perception of past Portfolio Returns Affects Investment Behaviors","authors":"Mohammad Tariqul Islam Khan, Siow-Hooi Tan, Lee-Lee Chong","doi":"10.1080/10599231.2019.1610688","DOIUrl":"https://doi.org/10.1080/10599231.2019.1610688","url":null,"abstract":"ABSTRACT Investors’ perception of past portfolio returns predicts their investment behavior, but does this relationship mediate by overconfidence? Taking into account different aspects of overconfidence, this paper examines whether overconfidence manifested as illusion of control, miscalibration and better-than-average mediates the association between perception of past portfolio returns and investment behavior. In a survey study with individual and institutional investors from Malaysia, the results indicate that perception of higher past portfolio returns increases investors’ trading, percentage of risky share investment and the number of financial asset holding, through the mediating channel of better-than-average effect. While individual investors are influenced by this overconfidence mechanism, institutional investors are not sensitive. This finding has theoretical implication for overconfidence model, house money effect and naïve reinforcement learning. Practically, the results imply that individual investors should be careful about underlying overconfidence biases as it can lead to inefficient decisions.","PeriodicalId":15043,"journal":{"name":"Journal of Asia-Pacific Business","volume":"20 1","pages":"140 - 161"},"PeriodicalIF":0.0,"publicationDate":"2019-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10599231.2019.1610688","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47156691","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-04-03DOI: 10.1080/10599231.2019.1610683
Syed Ali Fazal, A. Al mamun, Sazali Abdul Wahab, M. Mohiuddin
ABSTRACT This study argues that improved working practices acquired from intra-firm technology transfers are a crucial source of organizational sustainability. This study used 252 subsidiaries of foreign-based multinational corporations located in Peninsular Malaysia as a quantitative data source. The findings revealed that market environment, cultural factors, and absorptive capacity significantly improved working practices, which in turn significantly and positively affected the social and environmental sustainability of firms. We recommend that the government of Malaysia formulate and adopt more market-friendly policies while simultaneously providing both insight on the various cultural norms of foreign nations and higher education and training for its citizens to maximize knowledge transfer following foreign investment, which is beneficial for both the host country and the organizations involved.
{"title":"Social and Environmental Sustainability, Host Country Characteristics, and the Mediating Effect of Improved Working Practices: Evidence from Multinational Corporations in Malaysia","authors":"Syed Ali Fazal, A. Al mamun, Sazali Abdul Wahab, M. Mohiuddin","doi":"10.1080/10599231.2019.1610683","DOIUrl":"https://doi.org/10.1080/10599231.2019.1610683","url":null,"abstract":"ABSTRACT This study argues that improved working practices acquired from intra-firm technology transfers are a crucial source of organizational sustainability. This study used 252 subsidiaries of foreign-based multinational corporations located in Peninsular Malaysia as a quantitative data source. The findings revealed that market environment, cultural factors, and absorptive capacity significantly improved working practices, which in turn significantly and positively affected the social and environmental sustainability of firms. We recommend that the government of Malaysia formulate and adopt more market-friendly policies while simultaneously providing both insight on the various cultural norms of foreign nations and higher education and training for its citizens to maximize knowledge transfer following foreign investment, which is beneficial for both the host country and the organizations involved.","PeriodicalId":15043,"journal":{"name":"Journal of Asia-Pacific Business","volume":"20 1","pages":"102 - 124"},"PeriodicalIF":0.0,"publicationDate":"2019-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10599231.2019.1610683","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48382789","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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