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Unveiling the linkages between emerging stock market indices and cryptocurrencies 揭示新兴股市指数与加密货币之间的联系
IF 1 Q4 MANAGEMENT Pub Date : 2022-12-07 DOI: 10.21315/aamj2022.27.2.9
Wajid Shakeel Ahmed, Ahsan Mehmood, Talha Sheikh, Allah Bachaya
This paper investigated the relationship between cryptocurrencies and emerging stock market indices using fractional integration and co-integration technique. Particularly, fractional integration is applied to examine stochastic properties of individual assets and fractional cointegration to analyse bivariate connectedness. Our findings unveil the absence of mean reversion in majority cases which indicates high persistence in series. Furthermore, bivariate analysis reveals disconnection between cryptocurrencies prices and stock indices. Surprisingly, a different picture emerges on using conditional volatility instead of prices. Like, conditional volatility-based estimation uncovers evidence of mean reversion in univariate analysis as expected. There is some evidence of cointegration on volatility grounds between cryptocurrencies and emerging stock market indices. Our findings implies that investment decision regarding digital currencies should be taken cautiously. As cryptocurrencies are extremely volatile with high degree of persistence which can make them counterproductive.
本文使用分数积分和协积分技术研究了加密货币与新兴股市指数之间的关系。特别地,分数积分用于检验单个资产的随机性质,分数协整用于分析二元连通性。我们的发现揭示了在大多数情况下不存在均值回归,这表明序列具有很高的持久性。此外,双变量分析揭示了加密货币价格和股指之间的脱节。令人惊讶的是,使用条件波动率而不是价格出现了不同的情况。类似地,基于条件波动率的估计揭示了单变量分析中均值回归的证据。有一些证据表明,加密货币和新兴股市指数之间存在波动性协整。我们的研究结果表明,对数字货币的投资决策应该谨慎。由于加密货币具有高度的持久性,极易波动,这可能会使其适得其反。
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引用次数: 1
Shaping up the green entrepreneurial inclination among the university students 塑造大学生的绿色创业倾向
IF 1 Q4 MANAGEMENT Pub Date : 2022-12-07 DOI: 10.21315/aamj2022.27.2.4
T. Ramayah, Seyedeh Khadijeh Taghizadeh, Syed Abidur Rahman
Green entrepreneurship is the movement of deliberately addressing an environmental/ social problem/need through the apprehending of entrepreneurial ideas. However, becoming green entrepreneurs possess challenges which is needed through apprehending entrepreneurial ideas. Therefore, this study proposed and tested an integrative, multi- perspective framework towards green entrepreneurial inclination among university students in Malaysia. The main objective of this study is to determine the significant predictive role of a range of university support, institutional support, family support, and acquaintances support for green entrepreneurial inclination. Cross-sectional survey was directed through structured questionnaires among the university students. Partial least squares method was adopted using the SmartPLS 3.0 software to analyse the data from 1,000 respondents. The findings revealed that perceived educational, business development, institutional support along with perceived family and acquaintances supports play a significant role for green entrepreneurial inclination. The result of the study will provide guidelines to entrepreneurial universities to open up diverse opportunities for green entrepreneurial ventures. Non-governmental organisations, financial institutions, and patent organisations can also offer services to potential green entrepreneurs. This study will surely benefit all these parties to accelerate the green business and align with the “going green” movement. Originality of this research is an integrated multi-perspective framework to find support for green entrepreneurial inclination.
绿色创业是通过理解创业理念来有意解决环境/社会问题/需求的运动。然而,成为绿色企业家面临着挑战,这需要通过理解创业理念来实现。因此,本研究在马来西亚大学生中提出并测试了一个综合的、多视角的绿色创业倾向框架。本研究的主要目的是确定一系列大学支持、机构支持、家庭支持和熟人支持对绿色创业倾向的显著预测作用。采用结构式问卷对大学生进行横断面调查。采用偏最小二乘法,使用SmartPLS 3.0软件对1000名受访者的数据进行分析。研究结果表明,感知的教育、商业发展、机构支持以及感知的家庭和熟人支持对绿色创业倾向起着重要作用。这项研究的结果将为创业大学提供指导,为绿色创业企业开辟各种机会。非政府组织、金融机构和专利组织也可以为潜在的绿色企业家提供服务。这项研究必将有利于所有这些方面加快绿色商业,并与“走向绿色”运动保持一致。本研究的独创性是一个综合的多视角框架,旨在为绿色创业倾向寻找支持。
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引用次数: 1
Relationship between creativity, adaptive selling, and sales performance: The moderating role of job satisfaction 创造性、适应性销售与销售绩效的关系:工作满意度的调节作用
IF 1 Q4 MANAGEMENT Pub Date : 2022-12-07 DOI: 10.21315/aamj2022.27.2.5
Bidisha Banerjee, Sudin Bag
Despite the sound number of research work on creativity, a few researchers have paid attention to the mediating role of job satisfaction between creativity, adaptive selling, and sales performance. The present study investigates the direct relationship between the salesperson’s creativity and adaptive selling on their performance. In addition, the study also examines the role of job satisfaction as a moderator between creativity and adaptive selling and between creativity and sales performance of Indian disserves companies. The study is conducted using a sample of 120 respondents including both salesperson and supervisor from diverse industries in India. Results reveal that there is a significant positive relationship between creativity, adaptive selling, and sales performance. Besides, it shows that job satisfaction moderates the relationship between creativity and sales performance, but there is no relationship between creativity and adaptive selling. The paper provides a valuable contribution to theory and practice and identifies potential areas for further investigation.
尽管对创造力的研究已经相当多,但很少有研究者关注工作满意度在创造力、适应性销售和销售绩效之间的中介作用。本研究探讨了销售人员的创造力与适应性销售对其绩效的直接关系。此外,研究还考察了工作满意度在印度服务公司创造力和适应性销售之间以及创造力和销售绩效之间的调节作用。这项研究是使用120名受访者的样本进行的,其中包括来自印度不同行业的销售人员和主管。结果发现,创造力、适应性销售与销售绩效之间存在显著的正相关关系。此外,工作满意度调节了创造力与销售绩效之间的关系,而创造力与适应性销售之间没有关系。本文为理论和实践提供了宝贵的贡献,并指出了进一步研究的潜在领域。
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引用次数: 1
Inclusive climate and the performance of employees from Muslim diaspora in the Western organisations 西方组织中穆斯林侨民的包容性氛围和员工表现
IF 1 Q4 MANAGEMENT Pub Date : 2022-12-07 DOI: 10.21315/aamj2022.27.2.7
Sardana Islam Khan, Rumana Afroze, Laila Zaman
This exploratory study focuses on the impact of inclusive organisational climate on the members of Muslim diaspora in the Western workforce. There are theories and evidence that view increasing diversity in the workforce as a positive rather than a negative phenomenon. This is one of the few research papers that exclusively focuses on the implications of inclusive management practices for Muslim employees in the Western organisations. Evidence from the Muslim employees working in different industrial sectors in Australia, New Zealand, United States, and Canada have been used to explore the positive outcomes of inclusive organisational climate propositioned by the growing Muslim community in the Western workplace. This exploratory qualitative study presents the findings from 30 interviews with purposively selected Muslim employees working in the Western economies. Recursive abstraction and thematic approach have been used to analyse the data. The findings supported the popular assumption that inclusive organisational environment positively influences the desired employee outcomes among the Muslim employees that may lead to the attainment of various organisational goals. The findings also revealed that Muslim workers in the Western workplace feel more comfortable and included in a work climate where co-workers from different backgrounds or orientation are interested and encouraged to discuss their faith, values, and practices openly instead of carefully avoiding such conversation in the social interaction. Inclusiveness, to the Western workers with Muslim identity, is more about the interaction and behaviour of their co-workers at a personal level and less about the organisational system level mechanisms. Social exchange theory underpins the phenomenon explored in this study. Implications have been drawn for managers and human resource experts in the Western organisations.
这项探索性研究的重点是包容性的组织氛围对西方劳动力中散居国外的穆斯林成员的影响。有理论和证据认为,劳动力多样性的增加是一种积极而非消极的现象。这是为数不多的专门关注包容性管理实践对西方组织中穆斯林员工影响的研究论文之一。来自澳大利亚、新西兰、美国和加拿大不同工业部门的穆斯林员工的证据已被用于探索西方工作场所日益壮大的穆斯林社区提出的包容性组织氛围的积极结果。这项探索性的定性研究展示了对在西方经济体工作的穆斯林员工进行的30次采访的结果。递归抽象和主题方法已被用于分析数据。研究结果支持了一种流行的假设,即包容性的组织环境对穆斯林员工的期望结果产生了积极影响,这可能会导致各种组织目标的实现。研究结果还显示,西方工作场所的穆斯林员工感觉更舒适,融入了不同背景或取向的同事感兴趣并被鼓励公开讨论他们的信仰、价值观和实践的工作氛围,而不是在社交互动中谨慎避免此类对话。对于具有穆斯林身份的西方工人来说,包容性更多的是他们的同事在个人层面的互动和行为,而不是组织系统层面的机制。社会交换理论是本研究所探讨的现象的基础。这对西方组织的管理者和人力资源专家产生了影响。
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引用次数: 1
The impact of COVID-19 on financing decisions of SMEs in Vietnam 新冠肺炎疫情对越南中小企业融资决策的影响
IF 1 Q4 MANAGEMENT Pub Date : 2022-12-07 DOI: 10.21315/aamj2022.27.2.8
An H.K. Vo, Trang T.T. Truong, Khoa D. Huynh
The coronavirus disease (COVID-19) pandemic has had a massive impact on the economy around the world. To shed light on how COVID-19 is affecting the bank loan financing decisions of small and medium-sized enterprises (SMEs) in Vietnam, we conducted a survey with the participation of representatives come from 92 SMEs in Ho Chi Minh City, Vietnam in the period from March to April 2020. Employing logistic regression, we find that the risk perception of COVID-19 is a significant factor that helps predict SMEs’ bank loan financing decisions. This study not only contributes to management literature regarding firm’s financing decisions but also assists policymakers in introducing policies related to SMEs.
冠状病毒疾病(新冠肺炎)大流行对世界各地的经济产生了巨大影响。为了阐明新冠肺炎如何影响越南中小企业的银行贷款融资决策,我们在2020年3月至4月期间进行了一项调查,来自越南胡志明市92家中小企业的代表参加了调查。运用逻辑回归,我们发现新冠肺炎的风险认知是帮助预测中小企业银行贷款融资决策的重要因素。这项研究不仅有助于有关企业融资决策的管理文献,也有助于决策者引入与中小企业相关的政策。
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引用次数: 1
The relationship between economic growth, foreign direct investment, trade openness, and unemployment in South Asia 南亚经济增长、外国直接投资、贸易开放和失业之间的关系
IF 1 Q4 MANAGEMENT Pub Date : 2022-12-07 DOI: 10.21315/aamj2022.27.2.2
Anh Tru Nguyen
The aim of this article is to investigate the relationship between gross domestic product (GDP) growth rate, inflow foreign direct investment (FDI), trade openness, and unemployment in five South Asian countries between 1998 and 2017 using a vector autoregressive model. It has been empirically found that GDP growth rate and unemployment have positive relationships with FDI. Results demonstrated that there is a directional relationship running from FDI to GDP growth rate and from FDI to unemployment. The study shows that there is a long-run relationship between GDP growth rate, FDI, trade openness’s and unemployment in the region. Macro policies are recommended to accelerate economic growth, FDI, and reduce unemployment rate in South Asia.
本文的目的是利用向量自回归模型研究1998年至2017年间南亚五个国家的国内生产总值(GDP)增长率、外国直接投资流入(FDI)、贸易开放程度和失业率之间的关系。实证研究发现,GDP增长率和失业率与FDI呈正相关。结果表明,FDI与GDP增长率、FDI与失业率之间存在方向性关系。研究表明,该地区GDP增长率、FDI、贸易开放度与失业率之间存在长期关系。建议采取宏观政策加速南亚经济增长、吸引外国直接投资和降低失业率。
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引用次数: 3
Environmental sustainability and contemporary Islamic society: A Shariah perspective 环境可持续性与当代伊斯兰社会:伊斯兰教法视角
IF 1 Q4 MANAGEMENT Pub Date : 2022-12-07 DOI: 10.21315/aamj2022.27.2.10
Norita Mohd Nasir, Mahendhiran Sanggaran Nair, Pervaiz Khalid Ahmed
This paper examines the relevance of Islamic environmental theology in contemporary Islamic society. Islamic law or Shariah gives a significant prominence to environmental care. The responsibility to care for the environment is set at individual and societal levels, as outlined in the primary sources of Shariah. In line with the industrial and vast economic development, the modern jurists have extended the moral and religious obligations to firms. Environment is an important element that supports the objective of Shariah or maqasid al-Shariah, which is to safeguard the interests of all beings. However, the current devastating state of the global environment, including those of Islam-majority and Islam- dominated countries, poses major challenges to the maqasid al-Shariah. Environmental degradation is threatening the dharuriyyah level of maqasid al-Shariah, or the basic necessities of human. In view of this devastating phenomenon, this paper highlights the relevance of Islamic legal maxim of harm prevention, and how it can provide an impetus to the global environmental sustainability in modifying human attitudes and actions pertaining to the environment. We conclude that progressive interpretations of Shariah by way of incorporating vast economic development and social changes are important to address new necessities of maqasid al-Shariah. While holding on to the principles of Shariah, religious rulings pertaining to environmental matters are to be aligned to the current changing needs and problems of the society.
本文探讨了伊斯兰环境神学在当代伊斯兰社会中的相关性。伊斯兰法律或Shariah非常重视环境保护。如Shariah的主要来源所述,保护环境的责任是在个人和社会层面上确定的。随着工业和巨大的经济发展,现代法学家将道德和宗教义务扩展到企业。环境是支持Shariah或maqasid al-Shariah目标的一个重要因素,即保护所有人的利益。然而,当前全球环境的破坏性状况,包括伊斯兰占多数和伊斯兰占主导地位的国家的环境,对伊斯兰教法构成了重大挑战。环境退化正在威胁到伊斯兰教法的dharuriyyah水平,或人类的基本必需品。鉴于这一毁灭性现象,本文强调了伊斯兰预防伤害法律准则的相关性,以及它如何在改变人类对环境的态度和行动方面为全球环境可持续性提供动力。我们的结论是,通过结合巨大的经济发展和社会变革来逐步解释伊斯兰教法,对于解决伊斯兰教法的新需求很重要。在坚持伊斯兰教法原则的同时,与环境问题有关的宗教裁决应与当前不断变化的社会需求和问题相一致。
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引用次数: 3
Green innovation on firm value with financial performance as mediating variable: Evidence of the mining industry 以财务绩效为中介变量的企业价值绿色创新——基于矿业的实证研究
IF 1 Q4 MANAGEMENT Pub Date : 2022-12-07 DOI: 10.21315/aamj2022.27.2.3
Rina Yuniarti, Noorlailie Soewarno, Isnalita
The topic of environmental performance is gaining much attention from academics and politics when it is associated with each country’s policies regarding environmental problems. Unfortunately, the comprehensive studies to observe this case become rare, therefore this study is aimed to investigate the direct and indirect effect of green innovation on firm value based on financial performance as the mediating variable. Mining companies which participate in Corporate Performance Rating Assessment (PROPER) listed in the Indonesia Stock Exchange during the year of 2012–2018 were used as the samples. The financial performance was measured by return on assets (ROA) and the firm value were measured by Tobin’s Q. The results showed that green innovation had a positive effect on firm value. Financial performance has a positive effect on firm value and financial performance mediates the effect of green innovation on firm value. The green innovation could increase the mining company value. This increase is mediated by financial performance. This present study has been conducted to reveal the direct and indirect effect of green innovation and firm value, financial performance, and firm value comprehensively in which never been done before.
当环境绩效这个话题与每个国家的环境问题政策联系在一起时,它受到了学术界和政界的广泛关注。遗憾的是,观察这一案例的综合性研究很少,因此本研究旨在以财务绩效为中介变量,探讨绿色创新对企业价值的直接和间接影响。以2012-2018年在印尼证券交易所上市的参与企业绩效评级评估(PROPER)的矿业公司为样本。财务绩效以资产收益率(ROA)衡量,企业价值以托宾q衡量。结果表明,绿色创新对企业价值有正向影响。财务绩效对企业价值有正向影响,财务绩效中介绿色创新对企业价值的影响。绿色创新可以增加矿业公司的价值。这一增长受到财务业绩的影响。本研究全面揭示了绿色创新对企业价值、财务绩效和企业价值的直接和间接影响。
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引用次数: 2
The roles of ICT telecommunication infrastructure on foreign direct investment in Malaysia 信通技术电信基础设施对马来西亚外国直接投资的作用
IF 1 Q4 MANAGEMENT Pub Date : 2022-12-07 DOI: 10.21315/aamj2022.27.2.1
Kui Ming Tiong, Ming Yu Cheng, Chee Keong Choong
The development of the digital economy and the emergence of new technologies are changing the way of doing business. In recent foreign direct investment (FDI) studies, factors in addition to conventional ownership-location-internalisation (OLI) factors have been explored to enrich the FDI model. This study looks at the roles of information and communications technology (ICT) telecommunication infrastructure on FDI in Malaysia. The two-step system generalised method of moments (GMM) approach is used. To overcome the limitations of the dynamic panel model on the “small groups” problem, this study uses five three-year average data for the period between 2002 to 2016, and the Windmeijer finite-sample correction, the robust standard errors for estimation. The results show a significant positive role of mobile telephony on FDI. Besides, institutional factors are found to have significant impacts on FDI. The findings indicate the importance of the institutional framework and ICT telecommunication infrastructure, which can be jointly used with the OLI paradigm to explain factors driving FDI in the new economy.
数字经济的发展和新技术的出现正在改变商业方式。在最近的外国直接投资(FDI)研究中,除了传统的所有权-区位内化(OLI)因素外,还探讨了其他因素,以丰富FDI模型。本研究着眼于信息和通信技术电信基础设施对马来西亚外国直接投资的作用。采用两步系统广义矩量法(GMM)。为了克服动态面板模型在“小群体”问题上的局限性,本研究使用了2002年至2016年期间的五个三年平均数据,以及Windmeijer有限样本校正,即稳健的估计标准误差。研究结果表明,移动电话对外国直接投资具有显著的积极作用。此外,制度因素对外国直接投资也有显著影响。研究结果表明了体制框架和信通技术电信基础设施的重要性,这些框架和基础设施可以与OLI范式一起用来解释新经济中推动外国直接投资的因素。
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引用次数: 1
Leader-member exchange and creative idea validation: The role of helping and bullying 领导与成员的交流与创意的验证:帮助与欺凌的角色
IF 1 Q4 MANAGEMENT Pub Date : 2022-12-07 DOI: 10.21315/aamj2022.27.2.6
Ahmad Adeel, Samreen Batool, Kee Mui Hung Daisy, Zain-ul-Abdeen Madni, Muhammad Kamran Khan
The purpose of this paper is to explore the role of leader-member exchange (LMX) for selection-focused creativity. Thus, we seek to understand when subordinates develop high- quality relationships with their supervisors, do they also get their creative ideas validated by co-workers or not? The proposed model was tested using data obtained at two points in time from three data sources (co-workers, subordinates, and supervisors) working at a software solution provider operating in Pakistan. The obtained data were then analysed for random coefficient models with Mplus. It was found that having only quality LMX will not guarantee the validation of co-workers’ ideas. The focal employee needs to signal to others that they also care about their co-workers and have quality LMX. Subordinates who maintain quality relationships with their supervisors also need to consider what they signal to their co-workers by their behaviours and actions at work. Co-workers are more likely to provide support for creativity to those who are more supportive at work. We extend novel benefits associated with high-quality LMX, that is, the validation of co-workers’ ideas. Additionally, by focusing on social relationships for selection-focused creativity, we also extended creativity literature.
本文的目的是探讨领导-成员交换(LMX)在选择聚焦型创造力中的作用。因此,我们试图了解当下属与上级建立高质量的关系时,他们的创造性想法是否也得到了同事的认可?使用在巴基斯坦运营的软件解决方案提供商工作的三个数据源(同事、下属和主管)在两个时间点获得的数据对所提出的模型进行了测试。然后用Mplus对获得的数据进行随机系数模型分析。研究发现,只有高质量的LMX并不能保证同事的想法得到验证。专注的员工需要向其他人发出信号,表明他们也关心他们的同事,并拥有高质量的LMX。与上级保持良好关系的下属也需要考虑他们在工作中的行为和行动向同事发出了什么信号。同事更有可能为那些在工作中给予更多支持的人提供创造力方面的支持。我们扩展了与高质量LMX相关的新好处,即验证同事的想法。此外,通过关注以选择为中心的创造力的社会关系,我们也扩展了创造力文献。
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引用次数: 5
期刊
Asian Academy of Management Journal
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