Pub Date : 2023-06-30DOI: 10.17549/gbfr.2023.28.3.35
Siti Amaroh, H. Husnurrosyidah, Ely Masykuroh
Purpose: This research examines the function of social relationships in the association between financial attitudes and trusts toward member commitment of informal financial institutions, notably the rotating savings and credit association in Indonesia. Design/methodology/approach: The study consisted of 207 female participants, and a partial least square structural equation modelling was utilized to test the hypotheses. All items' validity and reliability were confirmed through inner and outer model testing. Findings: The study found that financial attitudes and trust did not significantly affect commitment but positively influenced social relations. Additionally, social relations impacted commitment and mediated the relationship between financial attitudes, trust, and commitment. Research limitations/implications: Therefore, the study underscores the need to prioritize women and social relationships in informal financial institutions to enhance informal financial inclusion from the grassroots level. Originality/value: These findings highlight the critical role of social cohesion in financial activities and emphasize the potential of informal financial institutions to alleviate short-term liquidity pressures.
{"title":"Financial Attitude, Trust, and ROSCAs' Member Commitment: Social Relations as Mediating Factor","authors":"Siti Amaroh, H. Husnurrosyidah, Ely Masykuroh","doi":"10.17549/gbfr.2023.28.3.35","DOIUrl":"https://doi.org/10.17549/gbfr.2023.28.3.35","url":null,"abstract":"Purpose: This research examines the function of social relationships in the association between financial attitudes and trusts toward member commitment of informal financial institutions, notably the rotating savings and credit association in Indonesia. \u0000Design/methodology/approach: The study consisted of 207 female participants, and a partial least square structural equation modelling was utilized to test the hypotheses. All items' validity and reliability were confirmed through inner and outer model testing. \u0000Findings: The study found that financial attitudes and trust did not significantly affect commitment but positively influenced social relations. Additionally, social relations impacted commitment and mediated the relationship between financial attitudes, trust, and commitment. \u0000Research limitations/implications: Therefore, the study underscores the need to prioritize women and social relationships in informal financial institutions to enhance informal financial inclusion from the grassroots level. \u0000Originality/value: These findings highlight the critical role of social cohesion in financial activities and emphasize the potential of informal financial institutions to alleviate short-term liquidity pressures.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77570589","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 : 2023-06-30DOI: 10.17549/gbfr.2023.28.3.102
Tara Khonglumtan, Parinya Srisattayakul
Purpose: The objective of this paper was to determine the actual needs of customers in 3 groups: passenger cars, buses, and truck refrigerators who bring their vehicles to the Service Center to be air conditioner repaired. Design/methodology/approach: We investigated at how variables including service quality (technician skill, service process, and overall quality), customer satisfaction (facility, responsiveness, and satisfaction), and customer loyalty (repeat orders, loyalty) influence customer perceptions. The primary data comes from a questionnaire of 425 customers. Before being analyzed with Confirmatory factor analysis (CFA), it was first tested for reliability using Cronbach alpha, CR, and AVE, all of the questionnaires are reliable. Findings: According to the CFA findings, customer perception has a 95 % confidence impact on customer satisfaction. Following that, a separate analysis of the 3 types of customers was conducted to determine the level of confidence in service quality. Ordinal logistic regression was used to conduct a statistical analysis for a Likert scale question, and it was discovered that customers of passenger cars and buses were more confidence and satisfied with their services than truck refrigerator. Research limitations/implications: There were complexity and uncertainty on this study, but each one led to innovative thinking. Due to prior research, there were no additional studies conducted in the context of automobile, bus, or truck air conditioning repair services. The literature review is so challenging as a result. Given the respondents were drivers, their ideas and opinions may have been clouded during data collecting. Only concentrate on surveys for corporate owners or executives if precise data is required. Originality/value: This focused for discrepancies between perceived significance and satisfaction in hopes of identifying managerial issues related to how well customers perceive the quality of service. It is demonstrated by considering the value of each service-related characteristic. Also, this study shows that CEOs should concentrate on creating service practices that will attract customers towards the service center.
{"title":"Analysis of Perceived Determinants in Customer Service Quality: Focused on A utomotive Air Conditioning Service C enters","authors":"Tara Khonglumtan, Parinya Srisattayakul","doi":"10.17549/gbfr.2023.28.3.102","DOIUrl":"https://doi.org/10.17549/gbfr.2023.28.3.102","url":null,"abstract":"Purpose: The objective of this paper was to determine the actual needs of customers in 3 groups: passenger cars, buses, and truck refrigerators who bring their vehicles to the Service Center to be air conditioner repaired. \u0000Design/methodology/approach: We investigated at how variables including service quality (technician skill, service process, and overall quality), customer satisfaction (facility, responsiveness, and satisfaction), and customer loyalty (repeat orders, loyalty) influence customer perceptions. The primary data comes from a questionnaire of 425 customers. Before being analyzed with Confirmatory factor analysis (CFA), it was first tested for reliability using Cronbach alpha, CR, and AVE, all of the questionnaires are reliable. \u0000Findings: According to the CFA findings, customer perception has a 95 % confidence impact on customer satisfaction. Following that, a separate analysis of the 3 types of customers was conducted to determine the level of confidence in service quality. Ordinal logistic regression was used to conduct a statistical analysis for a Likert scale question, and it was discovered that customers of passenger cars and buses were more confidence and satisfied with their services than truck refrigerator. \u0000Research limitations/implications: There were complexity and uncertainty on this study, but each one led to innovative thinking. Due to prior research, there were no additional studies conducted in the context of automobile, bus, or truck air conditioning repair services. The literature review is so challenging as a result. Given the respondents were drivers, their ideas and opinions may have been clouded during data collecting. Only concentrate on surveys for corporate owners or executives if precise data is required. \u0000Originality/value: This focused for discrepancies between perceived significance and satisfaction in hopes of identifying managerial issues related to how well customers perceive the quality of service. It is demonstrated by considering the value of each service-related characteristic. Also, this study shows that CEOs should concentrate on creating service practices that will attract customers towards the service center.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88538028","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 : 2023-06-30DOI: 10.17549/gbfr.2023.28.3.136
J. Chan
Purpose: The paper presents empirical evidence of sustainable practices adopted by rural tourism stakeholders. It explores the concept and meaning of sustainable practices and what motivates rural tourism stakeholders to adopt sustainable tourism practices as well as recommendations to enhance sustainable rural tourism practices. Design/methodology/approach: This paper describes an exploratory qualitative research project designed to investigate sustainable tourism practices of the rural tourism stakeholders. An inductive approach was adopted to address the research objectives. Specifically, this paper focuses on individuals' subjectivity and understanding of sustainable tourism practices in terms of meaning, motivations, and areas of improvement. The respondents' opinions were collected through semi-structured interviews. A total of 29 rural tourism operators participated in the data collection from the two rural tourism associations in Sabah, Malaysia. The data collection was held at Kota Marudu and Kuala Penyu from April to May 2022. Findings: The findings revealed that sustainable tourism practices relate to conservation and preservation, economic benefits, collaboration and protection, environmental impact, future growth, awareness, knowledge, and improvement. Interestingly, the meaning of sustainable tourism practices is strongly connected to the term “fairness”, to competitive products and quality attractions, and to meeting tourists' needs. This implies the meaning of sustainable tourism practices is not limited to economic, environmental, and sociocultural impacts; it also relates to quality tourism products and the needs of tourists. Key drivers for sustainability practices include economic, social, environmental, and government support. Relevant approaches for improving sustainable rural tourism practices include greater participation and collaboration among rural tourism operators, conservation and preservation, destination uniqueness, long-term growth, and 3Rs practices (reduce, reuse, and recycle). Research limitations/implications: Findings implicate sustainable rural tourism destination management and the rural tourism stakeholders to adopt and enhance the sustainability of the rural sites and destination. It also extends the scope of existing literature on the meaning, motivation and sustainability practices of rural tourist destinations. Originality/value: This study focuses on the importance of sustainability in rural tourism in Sabah, Malaysia, an area on which limited empirical research has been done. The study provides an in-depth understanding of the meaning and drivers of sustainable practices from the rural tourism operators' perspectives. Additionally, it proposes sound strategies for sustainable rural tourism practices. Such practices and development are attributed to an individual's understanding of the concept of and motives for adopting sustainable development practices, government support, and core infrastructur
{"title":"Sustainable Rural Tourism Practices From the Local Tourism Stakeholders' Perspectives","authors":"J. Chan","doi":"10.17549/gbfr.2023.28.3.136","DOIUrl":"https://doi.org/10.17549/gbfr.2023.28.3.136","url":null,"abstract":"Purpose: The paper presents empirical evidence of sustainable practices adopted by rural tourism stakeholders. It explores the concept and meaning of sustainable practices and what motivates rural tourism stakeholders to adopt sustainable tourism practices as well as recommendations to enhance sustainable rural tourism practices. \u0000Design/methodology/approach: This paper describes an exploratory qualitative research project designed to investigate sustainable tourism practices of the rural tourism stakeholders. An inductive approach was adopted to address the research objectives. Specifically, this paper focuses on individuals' subjectivity and understanding of sustainable tourism practices in terms of meaning, motivations, and areas of improvement. The respondents' opinions were collected through semi-structured interviews. A total of 29 rural tourism operators participated in the data collection from the two rural tourism associations in Sabah, Malaysia. The data collection was held at Kota Marudu and Kuala Penyu from April to May 2022. \u0000Findings: The findings revealed that sustainable tourism practices relate to conservation and preservation, economic benefits, collaboration and protection, environmental impact, future growth, awareness, knowledge, and improvement. Interestingly, the meaning of sustainable tourism practices is strongly connected to the term “fairness”, to competitive products and quality attractions, and to meeting tourists' needs. This implies the meaning of sustainable tourism practices is not limited to economic, environmental, and sociocultural impacts; it also relates to quality tourism products and the needs of tourists. Key drivers for sustainability practices include economic, social, environmental, and government support. Relevant approaches for improving sustainable rural tourism practices include greater participation and collaboration among rural tourism operators, conservation and preservation, destination uniqueness, long-term growth, and 3Rs practices (reduce, reuse, and recycle). \u0000Research limitations/implications: Findings implicate sustainable rural tourism destination management and the rural tourism stakeholders to adopt and enhance the sustainability of the rural sites and destination. It also extends the scope of existing literature on the meaning, motivation and sustainability practices of rural tourist destinations. \u0000Originality/value: This study focuses on the importance of sustainability in rural tourism in Sabah, Malaysia, an area on which limited empirical research has been done. The study provides an in-depth understanding of the meaning and drivers of sustainable practices from the rural tourism operators' perspectives. Additionally, it proposes sound strategies for sustainable rural tourism practices. Such practices and development are attributed to an individual's understanding of the concept of and motives for adopting sustainable development practices, government support, and core infrastructur","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79839788","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 : 2023-06-30DOI: 10.17549/gbfr.2023.28.3.68
Hoang Hien Pham, Thanh Tuan Tran
Purpose: This research investigates the role of employee trust and job satisfaction in the relationship between organizational culture and employee loyalty. Design/methodology/approach: The study was conducted among 355 healthcare professionals working in a private healthcare system in southern cities of Vietnam, including doctors, nurses, and other medical staff. The research method employed was partial least squared structure equation modeling (PLS-SEM) with SmartPLS software for data analysis. Findings: The findings indicate that organizational culture has a direct positive impact on employee loyalty and also affects employee trust and job satisfaction positively. Furthermore, employee trust and job satisfaction act as intermediaries and positively influence employee loyalty toward the organization. Research limitations/implications: The research acknowledges the limitation of the limited sample size and encourages further exploration of these relationships in other contexts. In addition, this study provides valuable insights for the management board of private healthcare organizations in southern cities of Vietnam on how to improve employee loyalty by cultivating a positive organizational culture, promoting employee trust, and enhancing job satisfaction. Originality/value: Overall, this research contributes significantly to the existing literature by examining the interplay between employee trust, organizational culture, job satisfaction, and employee loyalty.
{"title":"Strengthening the Link Between Organizational Culture and Employee Loyalty: Exploring the Mediating Effects of Employee Trust and Job Satisfaction","authors":"Hoang Hien Pham, Thanh Tuan Tran","doi":"10.17549/gbfr.2023.28.3.68","DOIUrl":"https://doi.org/10.17549/gbfr.2023.28.3.68","url":null,"abstract":"Purpose: This research investigates the role of employee trust and job satisfaction in the relationship between organizational culture and employee loyalty. \u0000Design/methodology/approach: The study was conducted among 355 healthcare professionals working in a private healthcare system in southern cities of Vietnam, including doctors, nurses, and other medical staff. The research method employed was partial least squared structure equation modeling (PLS-SEM) with SmartPLS software for data analysis. \u0000Findings: The findings indicate that organizational culture has a direct positive impact on employee loyalty and also affects employee trust and job satisfaction positively. Furthermore, employee trust and job satisfaction act as intermediaries and positively influence employee loyalty toward the organization. \u0000Research limitations/implications: The research acknowledges the limitation of the limited sample size and encourages further exploration of these relationships in other contexts. In addition, this study provides valuable insights for the management board of private healthcare organizations in southern cities of Vietnam on how to improve employee loyalty by cultivating a positive organizational culture, promoting employee trust, and enhancing job satisfaction. \u0000Originality/value: Overall, this research contributes significantly to the existing literature by examining the interplay between employee trust, organizational culture, job satisfaction, and employee loyalty.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75117636","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 : 2023-06-30DOI: 10.17549/gbfr.2023.28.3.50
Jay R. Fraser, Moosung Chung, H. Cheon
Purpose: This study investigates which message appeals more effectively induce consumers' ethical consumption by using combinations of self- or other-benefit appeals with future or present benefits and determines whether priming personal norms or social norms influences the effect. Design/methodology/approach: To test the theoretically derived priori hypotheses concerning the role of benefit, temporal distance, norms, and ethical consumption message, this research presented three experiments (two-Way ANOVA). The first test showed no difference in ethical consumption between the self- and other-benefit appeal types. The second experiment tested the hypothesis that self-benefit and other-benefit appeals are more effective for present and future benefits, respectively. The final experiment assessed whether self-benefit and other-benefit appeals primed with personal and social norms, respectively, would be more effective. Findings: Our results suggest that the appeal approach should be combined with either social or personal norms when the benefit is received to create more effective marketing messages when advertising ethical goods. Research limitations/implications: Owing to the growing trend in ethical consumption, we are becoming more concerned about animal welfare and seeking ethical meat options. Originality/value: This study promotes environmental sustainability, demonstrating that Method Products manufactures goods utilizing eco-friendly materials.
{"title":"Ethical Consumption in the Digital Age: Analyzing Benefit Types, Temporal Distance, and Normative Factors for Gen Z","authors":"Jay R. Fraser, Moosung Chung, H. Cheon","doi":"10.17549/gbfr.2023.28.3.50","DOIUrl":"https://doi.org/10.17549/gbfr.2023.28.3.50","url":null,"abstract":"Purpose: This study investigates which message appeals more effectively induce consumers' ethical consumption by using combinations of self- or other-benefit appeals with future or present benefits and determines whether priming personal norms or social norms influences the effect. \u0000Design/methodology/approach: To test the theoretically derived priori hypotheses concerning the role of benefit, temporal distance, norms, and ethical consumption message, this research presented three experiments (two-Way ANOVA). The first test showed no difference in ethical consumption between the self- and other-benefit appeal types. The second experiment tested the hypothesis that self-benefit and other-benefit appeals are more effective for present and future benefits, respectively. The final experiment assessed whether self-benefit and other-benefit appeals primed with personal and social norms, respectively, would be more effective. \u0000Findings: Our results suggest that the appeal approach should be combined with either social or personal norms when the benefit is received to create more effective marketing messages when advertising ethical goods. \u0000Research limitations/implications: Owing to the growing trend in ethical consumption, we are becoming more concerned about animal welfare and seeking ethical meat options. \u0000Originality/value: This study promotes environmental sustainability, demonstrating that Method Products manufactures goods utilizing eco-friendly materials.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76179956","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 : 2023-06-30DOI: 10.17549/gbfr.2023.28.3.85
Taeseop Yoon, Sung-Gheel Jang, Junki Lee
Purpose: This study is aims to analyze relationships among population, resident income, fiscal characteristics, and operating expenses in Korean local governments through investigating factors that affect operating expenses for managing local governments. Design/methodology/approach: To examine the factors affecting operating expenses, this study utilizes research framework using key determinants of budget execution in terms of operating expenses with the political market approach. For doing so, this study conducts panel regression analysis using 226 Korean local governments' empirical data during FY2016-FY2020. Findings: Analytical results show that population and fiscal factors of local governments do not explain a size of operating expenses; moreover, it reveals that local governments with a small population and fiscal size tend to spend more operating expenses. Research limitations/implications: Tis study is initiated based on the hypothesis that decrease of population would lead to decline demands for public goods and public services, which reduce the number of public goods and public services, and it would finally cause the reduction of local governments' operating expenses. However, this study has a limitation regarding to restricting the period of data since FY2016. Originality/value: Despite the above limitation, this study reveals that population variables and fiscal variables do not explain a size of operating expenses of Korean local governments. Rather, the analytical result shows that local governments with a small population and fiscal size spend more operating expenses. Therefore, this study suggests that it pays more attention to improving efficiency of organizational operation of local governments in the future.
{"title":"Key Determinants of B udg et E xecution w ith the Political Market Approach: A Case Study of Korean Local Government","authors":"Taeseop Yoon, Sung-Gheel Jang, Junki Lee","doi":"10.17549/gbfr.2023.28.3.85","DOIUrl":"https://doi.org/10.17549/gbfr.2023.28.3.85","url":null,"abstract":"Purpose: This study is aims to analyze relationships among population, resident income, fiscal characteristics, and operating expenses in Korean local governments through investigating factors that affect operating expenses for managing local governments. \u0000Design/methodology/approach: To examine the factors affecting operating expenses, this study utilizes research framework using key determinants of budget execution in terms of operating expenses with the political market approach. For doing so, this study conducts panel regression analysis using 226 Korean local governments' empirical data during FY2016-FY2020. \u0000Findings: Analytical results show that population and fiscal factors of local governments do not explain a size of operating expenses; moreover, it reveals that local governments with a small population and fiscal size tend to spend more operating expenses. \u0000Research limitations/implications: Tis study is initiated based on the hypothesis that decrease of population would lead to decline demands for public goods and public services, which reduce the number of public goods and public services, and it would finally cause the reduction of local governments' operating expenses. However, this study has a limitation regarding to restricting the period of data since FY2016. \u0000Originality/value: Despite the above limitation, this study reveals that population variables and fiscal variables do not explain a size of operating expenses of Korean local governments. Rather, the analytical result shows that local governments with a small population and fiscal size spend more operating expenses. Therefore, this study suggests that it pays more attention to improving efficiency of organizational operation of local governments in the future.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78424944","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 : 2023-06-30DOI: 10.17549/gbfr.2023.28.3.117
Hyonyong Lee
Purpose: This study investigates the return co-movements associated with investor sentiment shifts in the cross-sections under a setting where market-wide sentiment interacts with short-sale impediments. Design/methodology/approach: This study estimates the return sensitivity to market sentiment changes (sentiment beta) for each characteristic's portfolio by regressing the return of each quintile portfolio and various high-minus-low portfolios on the sentiment changes index. It examines whether these cross-sectionally different return co-movement patterns is more prevalent during good- than bad-sentiment periods by performing the same regression separately for the good- and bad-sentiment periods. Findings: The result shows that the returns of speculative stocks tend to co-move more strongly with sentiment changes than those of stable stocks, in the sense that speculative stocks have higher sentiment betas than stable stocks. The cross-sectional pattern in return co-movements becomes more pronounced during the good-sentiment period but disappears during the bad-sentiment periods. Research limitations/implications: This study elucidates the return co-movement behavior associated with investor sentiment changes under a setting where market-wide sentiment interacts with short-sale impediments. However, analyzing the relationship between the investment sentiment index and the short-selling activities is reserved for future research. Originality/value: The results provide important implications for investment strategies using investor sentiment in practice, and several suggestions for establishing investor protection policies in the highly individual-crowded market. This study will contribute to enhancing the stock market efficiency and price discovery.
{"title":"Investor Sentiment, Cross-sectional Stock Returns, and Short-Sales: Evidence From Korea","authors":"Hyonyong Lee","doi":"10.17549/gbfr.2023.28.3.117","DOIUrl":"https://doi.org/10.17549/gbfr.2023.28.3.117","url":null,"abstract":"Purpose: This study investigates the return co-movements associated with investor sentiment shifts in the cross-sections under a setting where market-wide sentiment interacts with short-sale impediments. \u0000Design/methodology/approach: This study estimates the return sensitivity to market sentiment changes (sentiment beta) for each characteristic's portfolio by regressing the return of each quintile portfolio and various high-minus-low portfolios on the sentiment changes index. It examines whether these cross-sectionally different return co-movement patterns is more prevalent during good- than bad-sentiment periods by performing the same regression separately for the good- and bad-sentiment periods. \u0000Findings: The result shows that the returns of speculative stocks tend to co-move more strongly with sentiment changes than those of stable stocks, in the sense that speculative stocks have higher sentiment betas than stable stocks. The cross-sectional pattern in return co-movements becomes more pronounced during the good-sentiment period but disappears during the bad-sentiment periods. \u0000Research limitations/implications: This study elucidates the return co-movement behavior associated with investor sentiment changes under a setting where market-wide sentiment interacts with short-sale impediments. However, analyzing the relationship between the investment sentiment index and the short-selling activities is reserved for future research. \u0000Originality/value: The results provide important implications for investment strategies using investor sentiment in practice, and several suggestions for establishing investor protection policies in the highly individual-crowded market. This study will contribute to enhancing the stock market efficiency and price discovery.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83294675","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 : 2023-06-30DOI: 10.17549/gbfr.2023.28.3.15
M. Cho, Ho-Young Lee, I. Yoon
Purpose: The purpose of this paper is to analyze perceived integrity of public service users and public enterprise employees in association with public enterprise performance, and the role of the CEO compensation on the association between perceived integrity and public enterprise performance. Design/methodology/approach: This study uses publicly available performance evaluations and CEO compensation disclosures by the Ministry of Strategy and Finance (MOSF) in South Korea and integrity assessments by the Anti-Corruption & Civil Rights Commission of Korea from 2014 to 2017. Findings: We find a positive association between integrity and public enterprise performance, a result driven by the positive association between integrity perceived by service users and public enterprise performance. Furthermore, higher monetary compensation paid to CEOs has a negative influence on the relationship between integrity perceived by public service users and public enterprise performance, whereas higher compensation paid to CEOs has a positive influence on the relationship between integrity perceived by employees and public enterprise performance. Research limitation/implications: Integrity perception might be subject to bias depending on the type of stakeholders (public service users or public enterprise employees). Thus, information users of public enterprise performance reports need to be aware of perception gaps in relation to multi-faceted aspects of public enterprise performance. We provide insights into the relationship between perception of integrity and public enterprise performance of the government bodies who enact and administer laws and public policies. Originality/value: This paper captures how the perceptions of integrity, as assessed by diverse stakeholders with differing perspectives and levels of honesty and transparency, influence public enterprise performance assessments. Furthermore, it extends the findings of prior studies on the impact of monetary compensation in the public sector (see Abner et al. 2017; Boyd et al. 2018; Chen and Hsieh 2015, among others) to confirm how CEO monetary compensation impacts the relationship between integrity and public enterprise performance. In the public sector, the extrinsic motivation of higher CEO monetary compensation relative to other public enterprises generally crowds out prosocial motivation, which, in turn, impairs the relationship between external integrity and public enterprise performance. At the same time, higher CEO monetary compensation has an incremental impact on internal integrity in association with financial management performance. Thus, we suggest that public enterprises should pay close attention to the design of their current incentive systems for CEOs, place greater weight on prosocial motivation to manage external integrity, and emphasize skill-based monetary compensation to manage internal integrity. Lastly, using manually collected data sets of public enterprises provided by two
目的:本文的目的是分析公共服务使用者和公共企业员工的感知诚信与公共企业绩效之间的关联，以及CEO薪酬对感知诚信与公共企业绩效之间的关联的作用。设计/方法/方法:本研究采用韩国战略与财政部(MOSF)公开的绩效评估和CEO薪酬披露，以及韩国反腐败和民权委员会2014年至2017年的诚信评估。研究发现:诚信与公共企业绩效之间存在正相关关系，这一结果是由服务使用者感知的诚信与公共企业绩效之间的正相关关系驱动的。此外，较高的ceo薪酬对公共服务使用者感知的诚信与公共企业绩效之间的关系有负向影响，而较高的ceo薪酬对员工感知的诚信与公共企业绩效之间的关系有正向影响。研究限制/启示:诚信感知可能会因利益相关者(公共服务使用者或公共企业雇员)的类型而产生偏差。因此，公共企业绩效报告的信息使用者需要意识到与公共企业绩效多方面相关的认知差距。我们为制定和管理法律和公共政策的政府机构的诚信感知与公共企业绩效之间的关系提供见解。原创性/价值:本文捕捉了不同利益相关者以不同的观点和诚实程度和透明度评估的诚信观念如何影响公共企业绩效评估。此外，它扩展了先前关于公共部门货币补偿影响的研究结果(见Abner et al. 2017;Boyd et al. 2018;Chen and Hsieh(2015，等)，以确认CEO薪酬如何影响诚信与上市企业绩效之间的关系。在公共部门，CEO薪酬高于其他公共企业的外在动机通常会排挤亲社会动机，从而削弱外部诚信与公共企业绩效之间的关系。同时，较高的CEO薪酬对内部诚信的影响与财务管理绩效呈递增关系。因此，我们建议公共企业应密切关注其现行ceo激励制度的设计，更重视亲社会动机来管理外部诚信，并强调基于技能的货币薪酬来管理内部诚信。最后，利用韩国两个独立政府组织提供的公共企业人工收集数据集，我们增加了在单一国家背景下发表的关于公共服务组织的少数研究结果的客观性和普遍性。
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Pub Date : 2023-06-30DOI: 10.17549/gbfr.2023.28.3.1
Dia Zeglat, I. Mukattash
Purpose: This research aims to develop a national index to measure customer satisfaction in Jordan. Based on householders' perspectives and assessments, this index will form a national measurement of customer satisfaction with goods and services offered in Jordan. Design/methodology/approach: T he r esearchers p erformed a s ystematic literature r eview (SL R) b y reading and analyzing the previous primary studies, using pre-specified search and inclusion criteria. In this study customer satisfaction index was defined and developed to the same degree as those that adopted specified customer satisfaction index principles in their development and application. Findings: Using the developed Jordanian Customer Satisfaction Index (JCSI), each sector, industry, and company included in the index will get a customer satisfaction score. The JCSI will measure customer satisfaction in 15 major economic sectors in Jordan. It contains three items to measure and track customer satisfaction using three facets of satisfaction―an overall rating of satisfaction, performance against expectations, and performance against the customer's ideal service. Research limitations/implications: The JCSI will encourage all Jordanian household consumers to give customer satisfaction feedback on purchasing and using goods and services. In this regard, this proposed national index will be helpful for consumers, managers, and policymakers. Originality/value: This paper developed a national customer satisfaction index in Jordan by using two perspectives(i.e., micro and macro levels). The proposed index in this paper is going to offer a multi-industry index to measure and benchmark Jordanian consumers’ satisfaction with goods and services produced and delivered in the Jordanian market.
{"title":"Toward Developing a National Customer Satisfaction Index in Jordan","authors":"Dia Zeglat, I. Mukattash","doi":"10.17549/gbfr.2023.28.3.1","DOIUrl":"https://doi.org/10.17549/gbfr.2023.28.3.1","url":null,"abstract":"Purpose: This research aims to develop a national index to measure customer satisfaction in Jordan. Based on householders' perspectives and assessments, this index will form a national measurement of customer satisfaction with goods and services offered in Jordan. \u0000Design/methodology/approach: T he r esearchers p erformed a s ystematic literature r eview (SL R) b y reading and analyzing the previous primary studies, using pre-specified search and inclusion criteria. In this study customer satisfaction index was defined and developed to the same degree as those that adopted specified customer satisfaction index principles in their development and application. \u0000Findings: Using the developed Jordanian Customer Satisfaction Index (JCSI), each sector, industry, and company included in the index will get a customer satisfaction score. The JCSI will measure customer satisfaction in 15 major economic sectors in Jordan. It contains three items to measure and track customer satisfaction using three facets of satisfaction―an overall rating of satisfaction, performance against expectations, and performance against the customer's ideal service. \u0000Research limitations/implications: The JCSI will encourage all Jordanian household consumers to give customer satisfaction feedback on purchasing and using goods and services. In this regard, this proposed national index will be helpful for consumers, managers, and policymakers. \u0000Originality/value: This paper developed a national customer satisfaction index in Jordan by using two perspectives(i.e., micro and macro levels). The proposed index in this paper is going to offer a multi-industry index to measure and benchmark Jordanian consumers’ satisfaction with goods and services produced and delivered in the Jordanian market.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91292871","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 : 2023-04-30DOI: 10.17549/gbfr.2023.28.2.45
M. Ichsan, M. Hamsal, S. Abdinagoro
Purpose: This paper presents a preliminary study of the complete research to explore how strategic initiatives are implemented in Indonesian banks. It has the aim to descriptively compare the Project Portfolio Management (PPM) Capabilities and bank performance between banks that are applying Project Management Office (PMO) practices and not. Design/methodology/approach: Empirical research has been performed through a survey using questionnaires to define the contribution of formal project management office practices in managing strategic initiatives in Indonesian banks. The data from 82 banks from a total of 115 banks in Indonesia based on the list of Indonesian Financial Authority were collected and analyzed using descriptive analysis with help of statistical tools SPSS 22. Findings: As a preliminary stage, this paper found that banks with formal project management office practices tend to be more effective in managing their strategic initiatives. Research limitations/implications: However, further analysis still needs to be performed to explore how project PPM capabilities and PMO practices influence the bank's performance positively. Originality/value: This study introduces how the project management office and project portfolio management practices in Indonesian Banks at glance and how its comparison those with and without project management practices.
{"title":"The Role of Project Management Office in Managing Project Portfolio Managem ent: A D escriptive S tudy i n Indonesian B anks","authors":"M. Ichsan, M. Hamsal, S. Abdinagoro","doi":"10.17549/gbfr.2023.28.2.45","DOIUrl":"https://doi.org/10.17549/gbfr.2023.28.2.45","url":null,"abstract":"Purpose: This paper presents a preliminary study of the complete research to explore how strategic initiatives are implemented in Indonesian banks. It has the aim to descriptively compare the Project Portfolio Management (PPM) Capabilities and bank performance between banks that are applying Project Management Office (PMO) practices and not. \u0000Design/methodology/approach: Empirical research has been performed through a survey using questionnaires to define the contribution of formal project management office practices in managing strategic initiatives in Indonesian banks. The data from 82 banks from a total of 115 banks in Indonesia based on the list of Indonesian Financial Authority were collected and analyzed using descriptive analysis with help of statistical tools SPSS 22. \u0000Findings: As a preliminary stage, this paper found that banks with formal project management office practices tend to be more effective in managing their strategic initiatives. \u0000Research limitations/implications: However, further analysis still needs to be performed to explore how project PPM capabilities and PMO practices influence the bank's performance positively. \u0000Originality/value: This study introduces how the project management office and project portfolio management practices in Indonesian Banks at glance and how its comparison those with and without project management practices.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75148721","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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