Pub Date : 2022-09-19DOI: 10.1108/jabs-10-2021-0406
Nguyen Minh Ha, Bui Hoang Ngoc, D. Vo
Purpose The purpose of this study is to explore the relationship among financial development (FD), economic growth, urbanization and human capital (HC) in Vietnam. Design/methodology/approach This study uses various wavelet tools, including wavelet coherence, wavelet correlation and scale-by-scale Granger causality test, to re-visit the lead–lag structure among economic growth, FD, urbanization and HC in Vietnam from 1980 to 2017. Findings The main findings indicate that economic growth and urbanization improve HC at the medium and low frequencies, whereas FD negatively affects HC from 1989 to 2017. Furthermore, the scale-by-scale Granger causality results confirm a uni-directional causality relationship between economic growth to HC at low and high frequencies. In contrast, a bi-directional causality relationship between urbanization and HC is found in the long run. Research limitations/implications Policy implications have emerged based on the empirical results from this study. The Vietnamese Government should continue supporting economic integration, implementing investment promotion policies and focussing on foreign direct investment using green technologies. Originality/value The impact of FD on HC at different time scales has largely been ignored in Vietnam. This study substantially contributes to the existing literature regarding HC and FD. This analysis is one of the earliest attempts to examine the effects of economic indicators on HC in the time-frequency analysis.
{"title":"Does financial development affect human capital? Evidence from Vietnam","authors":"Nguyen Minh Ha, Bui Hoang Ngoc, D. Vo","doi":"10.1108/jabs-10-2021-0406","DOIUrl":"https://doi.org/10.1108/jabs-10-2021-0406","url":null,"abstract":"\u0000Purpose\u0000The purpose of this study is to explore the relationship among financial development (FD), economic growth, urbanization and human capital (HC) in Vietnam.\u0000\u0000\u0000Design/methodology/approach\u0000This study uses various wavelet tools, including wavelet coherence, wavelet correlation and scale-by-scale Granger causality test, to re-visit the lead–lag structure among economic growth, FD, urbanization and HC in Vietnam from 1980 to 2017.\u0000\u0000\u0000Findings\u0000The main findings indicate that economic growth and urbanization improve HC at the medium and low frequencies, whereas FD negatively affects HC from 1989 to 2017. Furthermore, the scale-by-scale Granger causality results confirm a uni-directional causality relationship between economic growth to HC at low and high frequencies. In contrast, a bi-directional causality relationship between urbanization and HC is found in the long run.\u0000\u0000\u0000Research limitations/implications\u0000Policy implications have emerged based on the empirical results from this study. The Vietnamese Government should continue supporting economic integration, implementing investment promotion policies and focussing on foreign direct investment using green technologies.\u0000\u0000\u0000Originality/value\u0000The impact of FD on HC at different time scales has largely been ignored in Vietnam. This study substantially contributes to the existing literature regarding HC and FD. This analysis is one of the earliest attempts to examine the effects of economic indicators on HC in the time-frequency analysis.\u0000","PeriodicalId":46138,"journal":{"name":"Journal of Asia Business Studies","volume":" ","pages":""},"PeriodicalIF":2.9,"publicationDate":"2022-09-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46139669","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 : 2022-09-13DOI: 10.1108/jabs-09-2021-0359
Peerayuth Charoensukmongkol, Arti Pandey
Purpose This research aims to apply the contingency approach to explore the effectiveness of the improvisational behavior of salespeople on their sales performance by considering the moderating role of functional customer orientation. Design/methodology/approach Survey data were obtained from a sample of 227 salespeople in Bangkok, Thailand. The data analysis was implemented by partial least squares structural equation modeling. Findings The overall results indicate that the association between improvisational behavior and sales performance is significantly contingent on the level of functional customer orientation that salespeople exhibit. For salespeople with high functional customer orientation, improvisational behavior clearly shows a positive association with sales performance. In contrast, for salespeople with low functional customer orientation, improvisational behavior appears to have a negative association with sales performance. Originality/value This research broadens the knowledge in the literature by showing that improvisational behavior of salespeople needs to be combined with functional customer orientation to yield a benefit to their sales performance.
{"title":"The effectiveness of improvisational behavior on sales performance during the COVID-19 pandemic: the moderating effect of functional customer orientation","authors":"Peerayuth Charoensukmongkol, Arti Pandey","doi":"10.1108/jabs-09-2021-0359","DOIUrl":"https://doi.org/10.1108/jabs-09-2021-0359","url":null,"abstract":"\u0000Purpose\u0000This research aims to apply the contingency approach to explore the effectiveness of the improvisational behavior of salespeople on their sales performance by considering the moderating role of functional customer orientation.\u0000\u0000\u0000Design/methodology/approach\u0000Survey data were obtained from a sample of 227 salespeople in Bangkok, Thailand. The data analysis was implemented by partial least squares structural equation modeling.\u0000\u0000\u0000Findings\u0000The overall results indicate that the association between improvisational behavior and sales performance is significantly contingent on the level of functional customer orientation that salespeople exhibit. For salespeople with high functional customer orientation, improvisational behavior clearly shows a positive association with sales performance. In contrast, for salespeople with low functional customer orientation, improvisational behavior appears to have a negative association with sales performance.\u0000\u0000\u0000Originality/value\u0000This research broadens the knowledge in the literature by showing that improvisational behavior of salespeople needs to be combined with functional customer orientation to yield a benefit to their sales performance.\u0000","PeriodicalId":46138,"journal":{"name":"Journal of Asia Business Studies","volume":" ","pages":""},"PeriodicalIF":2.9,"publicationDate":"2022-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48197310","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 : 2022-08-12DOI: 10.1108/jabs-09-2021-0360
V. Dang, H. Nguyen
Purpose This paper aims to investigate the link between uncertainty in banking and bank lending behavior, particularly shedding light on the modifying role of bank competition in the nexus. Design/methodology/approach The study uses a panel of Vietnamese banks over the 2007–2019 period for empirical analysis and the dispersion of shocks to bank-level variables to measure banking uncertainty. To strongly confirm our findings, the authors perform a battery of alternative checks based on different econometric techniques, including fixed effect regressions with Driscoll–Kraay standard errors, the two-step system generalized method of moments estimator and the least squares dummy variable-corrected estimator. Findings Uncertainty induces multifaceted unfavorable impacts on bank lending. Concretely, banks tend to restraint loan growth, suffer more credit risk, and charge higher lending rates during periods of higher uncertainty. Further investigation reveals that lending activities of banks with greater market power are less sensitive to adverse uncertainty shocks; in other words, increased competition in the banking system is associated with more substantial consequences of uncertainty on bank lending. Originality/value To the best of the authors’ knowledge, this study is the first attempt to simultaneously explore the impacts of uncertainty on quantity, quality and prices of bank lending. This paper also aim at putting forth the level of uncertainty particularly related to the banking sector. Importantly, examining the conditionality of the linkage between uncertainty and bank lending with respect to bank competition is entirely novel.
{"title":"Banking uncertainty and lending: does bank competition matter?","authors":"V. Dang, H. Nguyen","doi":"10.1108/jabs-09-2021-0360","DOIUrl":"https://doi.org/10.1108/jabs-09-2021-0360","url":null,"abstract":"\u0000Purpose\u0000This paper aims to investigate the link between uncertainty in banking and bank lending behavior, particularly shedding light on the modifying role of bank competition in the nexus.\u0000\u0000\u0000Design/methodology/approach\u0000The study uses a panel of Vietnamese banks over the 2007–2019 period for empirical analysis and the dispersion of shocks to bank-level variables to measure banking uncertainty. To strongly confirm our findings, the authors perform a battery of alternative checks based on different econometric techniques, including fixed effect regressions with Driscoll–Kraay standard errors, the two-step system generalized method of moments estimator and the least squares dummy variable-corrected estimator.\u0000\u0000\u0000Findings\u0000Uncertainty induces multifaceted unfavorable impacts on bank lending. Concretely, banks tend to restraint loan growth, suffer more credit risk, and charge higher lending rates during periods of higher uncertainty. Further investigation reveals that lending activities of banks with greater market power are less sensitive to adverse uncertainty shocks; in other words, increased competition in the banking system is associated with more substantial consequences of uncertainty on bank lending.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this study is the first attempt to simultaneously explore the impacts of uncertainty on quantity, quality and prices of bank lending. This paper also aim at putting forth the level of uncertainty particularly related to the banking sector. Importantly, examining the conditionality of the linkage between uncertainty and bank lending with respect to bank competition is entirely novel.\u0000","PeriodicalId":46138,"journal":{"name":"Journal of Asia Business Studies","volume":" ","pages":""},"PeriodicalIF":2.9,"publicationDate":"2022-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48710785","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 : 2022-08-05DOI: 10.1108/jabs-04-2022-0122
Arash Arianpoor, R. Yazdanpanah
Purpose This study mainly aims to explore the impact of management practices and managerial behavioral attributes on credit rating quality in Tehran Stock Exchange. Design/methodology/approach In this study, 214 firms were assessed from 2014 to 2020. The credit rating quality was measured through Technique for Order of Preference by Similarity to Ideal Solution and the entropy weighting method. In accordance with the theoretical literature, managerial entrenchment, managerial myopia, managerial overconfidence and managerial narcissism were considered as the managerial attributes. Furthermore, to examine management practices, cash flow management and accrual management were explored. Findings The results of this study showed that the cash flow from operations management and the accrual management has a significant positive effect on the credit rating quality. The managerial entrenchment, managerial narcissism and managerial myopia have significant negative effects on credit rating quality, while the effect of managerial overconfidence on credit rating quality is not significant. Originality/value Understanding the factors that affect the credit rating quality is of a great importance. Considering the significance of cash management in the present era and the impact of managerial psychological and behavioral characteristics in the development of the organization, empirical results of this study can help investors, capital market regulators and other stakeholders to strengthen the firm and better decisions.
{"title":"The impact of management practices and managerial behavioral attributes on credit rating quality","authors":"Arash Arianpoor, R. Yazdanpanah","doi":"10.1108/jabs-04-2022-0122","DOIUrl":"https://doi.org/10.1108/jabs-04-2022-0122","url":null,"abstract":"\u0000Purpose\u0000This study mainly aims to explore the impact of management practices and managerial behavioral attributes on credit rating quality in Tehran Stock Exchange.\u0000\u0000\u0000Design/methodology/approach\u0000In this study, 214 firms were assessed from 2014 to 2020. The credit rating quality was measured through Technique for Order of Preference by Similarity to Ideal Solution and the entropy weighting method. In accordance with the theoretical literature, managerial entrenchment, managerial myopia, managerial overconfidence and managerial narcissism were considered as the managerial attributes. Furthermore, to examine management practices, cash flow management and accrual management were explored.\u0000\u0000\u0000Findings\u0000The results of this study showed that the cash flow from operations management and the accrual management has a significant positive effect on the credit rating quality. The managerial entrenchment, managerial narcissism and managerial myopia have significant negative effects on credit rating quality, while the effect of managerial overconfidence on credit rating quality is not significant.\u0000\u0000\u0000Originality/value\u0000Understanding the factors that affect the credit rating quality is of a great importance. Considering the significance of cash management in the present era and the impact of managerial psychological and behavioral characteristics in the development of the organization, empirical results of this study can help investors, capital market regulators and other stakeholders to strengthen the firm and better decisions.\u0000","PeriodicalId":46138,"journal":{"name":"Journal of Asia Business Studies","volume":" ","pages":""},"PeriodicalIF":2.9,"publicationDate":"2022-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45871873","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 : 2022-07-29DOI: 10.1108/jabs-12-2021-0517
J. Kumari, K.G.P. Senani, R. Ajward
Purpose This study aims to explain investors’ intention to invest in the stock market amid the COVID-19 pandemic by expanding the Theory of Planned Behavior (TPB). Design/methodology/approach This study adopts a quantitative approach, and a questionnaire-based survey was conducted to collect responses from existing and potential individual investors. To test the relationships between variables, structural equation modeling was used. Findings The findings indicated that investors’ attitude and perceived behavioral control had a significant influence on investment intentions. Further, perceived knowledge of COVID-19 improved the ability to predict the intention to invest. Moreover, psychological risk significantly moderated the association between subjective norms related to investors and their attitudes. Overall, the tested model was able to better account for the intention of investors in stock market investments. Research limitations/implications In this study, only the investor reactions in the context of an emerging market were evaluated, and future studies could focus on different market contexts and perform comparative studies. Financial markets could be considered as a mechanism that has a direct impact on the wealth distribution of society, and the key findings of this study could be used to promote investment in emerging markets, where participation is comparatively low. Originality/value The TPB was expanded by incorporating investors’ perceived knowledge of COVID-19 and psychological risk dimensions, which were then tested in an emerging market context to fill the knowledge gap identified in the contemporary behavioral finance literature.
{"title":"Predicting investors’ intention to invest in the stock market during COVID-19: can we use an extended theory of planned behavior?","authors":"J. Kumari, K.G.P. Senani, R. Ajward","doi":"10.1108/jabs-12-2021-0517","DOIUrl":"https://doi.org/10.1108/jabs-12-2021-0517","url":null,"abstract":"\u0000Purpose\u0000This study aims to explain investors’ intention to invest in the stock market amid the COVID-19 pandemic by expanding the Theory of Planned Behavior (TPB).\u0000\u0000\u0000Design/methodology/approach\u0000This study adopts a quantitative approach, and a questionnaire-based survey was conducted to collect responses from existing and potential individual investors. To test the relationships between variables, structural equation modeling was used.\u0000\u0000\u0000Findings\u0000The findings indicated that investors’ attitude and perceived behavioral control had a significant influence on investment intentions. Further, perceived knowledge of COVID-19 improved the ability to predict the intention to invest. Moreover, psychological risk significantly moderated the association between subjective norms related to investors and their attitudes. Overall, the tested model was able to better account for the intention of investors in stock market investments.\u0000\u0000\u0000Research limitations/implications\u0000In this study, only the investor reactions in the context of an emerging market were evaluated, and future studies could focus on different market contexts and perform comparative studies. Financial markets could be considered as a mechanism that has a direct impact on the wealth distribution of society, and the key findings of this study could be used to promote investment in emerging markets, where participation is comparatively low.\u0000\u0000\u0000Originality/value\u0000The TPB was expanded by incorporating investors’ perceived knowledge of COVID-19 and psychological risk dimensions, which were then tested in an emerging market context to fill the knowledge gap identified in the contemporary behavioral finance literature.\u0000","PeriodicalId":46138,"journal":{"name":"Journal of Asia Business Studies","volume":" ","pages":""},"PeriodicalIF":2.9,"publicationDate":"2022-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41852732","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 : 2022-07-26DOI: 10.1108/jabs-09-2021-0384
Mehmet Celikyay, Fatma Sonmez Cakir, Zafer Adiguzel
Purpose The purpose of this study is to investigate the relationship between supplier orientation, which is Porter's general competitive strategy, and the market and financial performance in the Turkish Information and Communication Technologies (ICTs) sector, taking into account the problems in the supply chain during the pandemic process. Design/methodology/approach This study used a quantitative research design where 550 questionnaires were collected from respondents operating in various ICT companies in Turkey to obtain necessary data to test the hypotheses developed for the study. Mediation effect and path analysis were used to analyze the research data. Smart PLS 3.3 version was used for all the mentioned analyzes. Findings The results of the analysis revealed that supplier orientation was positively and significantly related to financial and market performance. The findings of this study also showed that Porter’s generic competitive strategies have a mediator role in the relations of supplier orientation, financial and market performance. Practical implications These findings contribute to the understanding of the importance of supplier orientation along with competitive strategies to increase market and financial performance in ICT companies, especially during the pandemic process. These findings provide recommendations for researchers, professionals and senior and supply chain managers to apply at their firms. Originality/value This is a study that adequately covers the relationship between supplier orientation, general competitive strategies and market and financial performance in the Turkish ICT sector, taking into account the pandemic process.
{"title":"Effects of supplier orientation and competitive strategies on ICT firms’ performance","authors":"Mehmet Celikyay, Fatma Sonmez Cakir, Zafer Adiguzel","doi":"10.1108/jabs-09-2021-0384","DOIUrl":"https://doi.org/10.1108/jabs-09-2021-0384","url":null,"abstract":"\u0000Purpose\u0000The purpose of this study is to investigate the relationship between supplier orientation, which is Porter's general competitive strategy, and the market and financial performance in the Turkish Information and Communication Technologies (ICTs) sector, taking into account the problems in the supply chain during the pandemic process.\u0000\u0000\u0000Design/methodology/approach\u0000This study used a quantitative research design where 550 questionnaires were collected from respondents operating in various ICT companies in Turkey to obtain necessary data to test the hypotheses developed for the study. Mediation effect and path analysis were used to analyze the research data. Smart PLS 3.3 version was used for all the mentioned analyzes.\u0000\u0000\u0000Findings\u0000The results of the analysis revealed that supplier orientation was positively and significantly related to financial and market performance. The findings of this study also showed that Porter’s generic competitive strategies have a mediator role in the relations of supplier orientation, financial and market performance.\u0000\u0000\u0000Practical implications\u0000These findings contribute to the understanding of the importance of supplier orientation along with competitive strategies to increase market and financial performance in ICT companies, especially during the pandemic process. These findings provide recommendations for researchers, professionals and senior and supply chain managers to apply at their firms.\u0000\u0000\u0000Originality/value\u0000This is a study that adequately covers the relationship between supplier orientation, general competitive strategies and market and financial performance in the Turkish ICT sector, taking into account the pandemic process.\u0000","PeriodicalId":46138,"journal":{"name":"Journal of Asia Business Studies","volume":" ","pages":""},"PeriodicalIF":2.9,"publicationDate":"2022-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43714478","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}
Purpose This study aims to investigate the relationship between perceived usefulness, ease of use and adoption of online banking by customers in the Indian context. Using the technology acceptance model (TAM) as the base, this study underscores the importance of perceived enjoyment, security and trust in influencing customer satisfaction. Design/methodology/approach Using a structured survey instrument, this paper gathered data from 476 respondents in the southern part of India. First, the instrument’s psychometric properties were tested, and hypotheses were tested using Hayes’s PROCESS macros. Findings The results indicated that (i) perceived usefulness and perceived ease of use are positively related to the attitude of the consumers to use online banking, (ii) attitude to use is positively related to adoption intention and (iii) adoption intention positively predicts customer satisfaction. The results also reveal that (i) perceived enjoyment moderates the relationship between attitude to use and adoption intention, (ii) trust moderates the relationship between adoption intention and customer satisfaction and (iii) security (second moderator) moderates the moderated relationship between trust (first moderator) and adoption intention on customer satisfaction. Research limitations/implications As with any survey research, self-report measures have the inherent problems of common method bias and social desirability bias. However, the authors have taken adequate care to minimize these limitations. In addition, the research has implications for consumer behavior concerned with online banking. Practical implications This study contributes to both practicing managers and the literature on online banking. The study suggests that bank managers need to focus on ensuring security and earning customers’ trust to motivate them to adopt online banking. Social implications The study contributes to society by unraveling the antecedent conditions leading to accepting innovative changes initiated by banks. Especially in rural and cooperative banks, customers adopting online banking helps save their time and energy in visiting the physical locations of banks. Originality/value This study provides new insights into the complex relationships among variables contributing to customer satisfaction. The double-layered moderated moderated-mediation conceptual model developed and tested in this study is a novel idea that makes a significant contribution to the growing literature on online banking.
{"title":"A moderated-mediation model of perceived enjoyment, security and trust on customer satisfaction: evidence from banking industry in India","authors":"Meharaj Banu Abdul Sathar, Malini Rajagopalan, Shaik Mohamed Naina, Satyanarayana Parayitam","doi":"10.1108/jabs-03-2022-0089","DOIUrl":"https://doi.org/10.1108/jabs-03-2022-0089","url":null,"abstract":"\u0000Purpose\u0000This study aims to investigate the relationship between perceived usefulness, ease of use and adoption of online banking by customers in the Indian context. Using the technology acceptance model (TAM) as the base, this study underscores the importance of perceived enjoyment, security and trust in influencing customer satisfaction.\u0000\u0000\u0000Design/methodology/approach\u0000Using a structured survey instrument, this paper gathered data from 476 respondents in the southern part of India. First, the instrument’s psychometric properties were tested, and hypotheses were tested using Hayes’s PROCESS macros.\u0000\u0000\u0000Findings\u0000The results indicated that (i) perceived usefulness and perceived ease of use are positively related to the attitude of the consumers to use online banking, (ii) attitude to use is positively related to adoption intention and (iii) adoption intention positively predicts customer satisfaction. The results also reveal that (i) perceived enjoyment moderates the relationship between attitude to use and adoption intention, (ii) trust moderates the relationship between adoption intention and customer satisfaction and (iii) security (second moderator) moderates the moderated relationship between trust (first moderator) and adoption intention on customer satisfaction.\u0000\u0000\u0000Research limitations/implications\u0000As with any survey research, self-report measures have the inherent problems of common method bias and social desirability bias. However, the authors have taken adequate care to minimize these limitations. In addition, the research has implications for consumer behavior concerned with online banking.\u0000\u0000\u0000Practical implications\u0000This study contributes to both practicing managers and the literature on online banking. The study suggests that bank managers need to focus on ensuring security and earning customers’ trust to motivate them to adopt online banking.\u0000\u0000\u0000Social implications\u0000The study contributes to society by unraveling the antecedent conditions leading to accepting innovative changes initiated by banks. Especially in rural and cooperative banks, customers adopting online banking helps save their time and energy in visiting the physical locations of banks.\u0000\u0000\u0000Originality/value\u0000This study provides new insights into the complex relationships among variables contributing to customer satisfaction. The double-layered moderated moderated-mediation conceptual model developed and tested in this study is a novel idea that makes a significant contribution to the growing literature on online banking.\u0000","PeriodicalId":46138,"journal":{"name":"Journal of Asia Business Studies","volume":" ","pages":""},"PeriodicalIF":2.9,"publicationDate":"2022-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44895970","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 : 2022-07-05DOI: 10.1108/jabs-10-2021-0430
Sana Tauseef
Purpose This study aims to examine investors’ herd behaviour for various calendar events and size-based stock portfolios in Pakistan. The authors consider three calendar effects, crisis (COVID-19 and financial crisis 2018–19), announcement of political news and popular calendar anomalies (month-of-the-year and day-of-the-week), and investigate the impact of stock size on calendar effect in terms of investors’ herd behaviour. Design/methodology/approach The study uses non-linear specification to capture herd behaviour using firm-level daily data for 496 stocks listed on Pakistan Stock Exchange over the period 2001–2020. Findings The results indicate herd formation during periods of COVID-19, financial crisis, political news announcements and January (month-of-the-year). The authors also observe significant herding for the biggest and smallest size stocks over complete period. However, the authors find more pronounced herding in big stocks during January as compared to the more noticeable herding in small stocks over complete period. The findings suggest that herding in small stocks is not the main cause of January herding and hint on the prevalence of significant institutional herding during January. Practical implications The stock prices destabilize because of the mimicking behaviour during crisis periods, days of political announcements and month of January. Implementation of insider trading laws and transparent information environment can help in reducing these effects and increasing market efficiency. Originality/value The authors consider the recent COVID period in our analysis. In addition, we provide new evidence on the possible impact of stock size on calendar effect in terms of herd behaviour, which, to the best of the authors’ knowledge, has not yet been documented in literature.
{"title":"Herd behaviour in an emerging market: an evidence of calendar and size effects","authors":"Sana Tauseef","doi":"10.1108/jabs-10-2021-0430","DOIUrl":"https://doi.org/10.1108/jabs-10-2021-0430","url":null,"abstract":"\u0000Purpose\u0000This study aims to examine investors’ herd behaviour for various calendar events and size-based stock portfolios in Pakistan. The authors consider three calendar effects, crisis (COVID-19 and financial crisis 2018–19), announcement of political news and popular calendar anomalies (month-of-the-year and day-of-the-week), and investigate the impact of stock size on calendar effect in terms of investors’ herd behaviour.\u0000\u0000\u0000Design/methodology/approach\u0000The study uses non-linear specification to capture herd behaviour using firm-level daily data for 496 stocks listed on Pakistan Stock Exchange over the period 2001–2020.\u0000\u0000\u0000Findings\u0000The results indicate herd formation during periods of COVID-19, financial crisis, political news announcements and January (month-of-the-year). The authors also observe significant herding for the biggest and smallest size stocks over complete period. However, the authors find more pronounced herding in big stocks during January as compared to the more noticeable herding in small stocks over complete period. The findings suggest that herding in small stocks is not the main cause of January herding and hint on the prevalence of significant institutional herding during January.\u0000\u0000\u0000Practical implications\u0000The stock prices destabilize because of the mimicking behaviour during crisis periods, days of political announcements and month of January. Implementation of insider trading laws and transparent information environment can help in reducing these effects and increasing market efficiency.\u0000\u0000\u0000Originality/value\u0000The authors consider the recent COVID period in our analysis. In addition, we provide new evidence on the possible impact of stock size on calendar effect in terms of herd behaviour, which, to the best of the authors’ knowledge, has not yet been documented in literature.\u0000","PeriodicalId":46138,"journal":{"name":"Journal of Asia Business Studies","volume":" ","pages":""},"PeriodicalIF":2.9,"publicationDate":"2022-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47962938","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}
Purpose This study aims to explore the roles and relations of dynamic capabilities (DCs) and marketing capabilities (MCs) to generate firm performance through new empirical data from the automotive industry in an emerging market, Turkey, where volatile market conditions may compel firms to use both their DCs and MCs. The automotive industry dynamic character, which is shaped by fierce competition among car manufacturers, fluctuating customer demands and strong effect of environmental forces, provides an ideal context for examining the performance outcomes of MC and DC in non-static environments. This study aims to show whether better financial performance can be achieved through an integrated MC and DC framework; if the level of environmental dynamism (ED) influences the utilization of MCs; and the impact of MC and DC convergence on firm performance by using emerging market data, which is rare in the extant literature. Design/methodology/approach This paper empirically investigates the role of MCs on the relationship between DCs and firm performance and the effect of ED in marketing capability development through a study of 162 top level managers from the automotive industry in Turkey using multiple regression methods. A self-administered questionnaire was used to collect data. A maximum concern was given to obtain at least three questionnaires from each firm to minimize the risk of getting biased answers from only one manager. Findings The data were analyzed by the regression method, and the mediation and moderation tests were conducted to test the established hypotheses. The direct relationship between MCs and firm performance was examined through linear regression, and a significant relationship was found (ß = 0.408; t = 5.656; p < 0.001). Pricing (ß = 0.404; p < 0.001), marketing research (ß = 0.367; p < 0.001) and marketing strategy and implementation (ß = 0.336; p < 0.001) had the strongest association with firm performance. The mediating role of MC on the relationship between DC and firm performance was assessed, and the analysis result yielded a significant result (ß = 0.439; t = 6.174; p < 0.001). Finally, the moderating effect of ED on the direct relationship between MC and firm performance was assessed. Yet, the interaction term was insignificant (ß = 0.013; t = 0.103; p = 0.918) in predicting firm performance. Research limitations/implications Although the data set covers a broad range of firms operating in the Turkish automotive industry, the generalization of findings should only be possible through obtaining fresh evidence from other emerging markets that possess the similar market characteristics of Turkey. The cross-sectional nature of the study may offer insights only for a certain period of time; thus, additional longitudinal studies are recommended to see the dynamic changes on the constructs and relationships between them. Future studies may also include qualitative methods, i.e. interviews with top managers to have a
{"title":"Dynamic and marketing capabilities as determinants of firm performance: evidence from automotive industry","authors":"Veysel Çataltepe, Rıfat Kamaşak, Füsun Bulutlar, Deni̇z Palalar Alkan","doi":"10.1108/jabs-11-2021-0475","DOIUrl":"https://doi.org/10.1108/jabs-11-2021-0475","url":null,"abstract":"\u0000Purpose\u0000This study aims to explore the roles and relations of dynamic capabilities (DCs) and marketing capabilities (MCs) to generate firm performance through new empirical data from the automotive industry in an emerging market, Turkey, where volatile market conditions may compel firms to use both their DCs and MCs. The automotive industry dynamic character, which is shaped by fierce competition among car manufacturers, fluctuating customer demands and strong effect of environmental forces, provides an ideal context for examining the performance outcomes of MC and DC in non-static environments. This study aims to show whether better financial performance can be achieved through an integrated MC and DC framework; if the level of environmental dynamism (ED) influences the utilization of MCs; and the impact of MC and DC convergence on firm performance by using emerging market data, which is rare in the extant literature.\u0000\u0000\u0000Design/methodology/approach\u0000This paper empirically investigates the role of MCs on the relationship between DCs and firm performance and the effect of ED in marketing capability development through a study of 162 top level managers from the automotive industry in Turkey using multiple regression methods. A self-administered questionnaire was used to collect data. A maximum concern was given to obtain at least three questionnaires from each firm to minimize the risk of getting biased answers from only one manager.\u0000\u0000\u0000Findings\u0000The data were analyzed by the regression method, and the mediation and moderation tests were conducted to test the established hypotheses. The direct relationship between MCs and firm performance was examined through linear regression, and a significant relationship was found (ß = 0.408; t = 5.656; p < 0.001). Pricing (ß = 0.404; p < 0.001), marketing research (ß = 0.367; p < 0.001) and marketing strategy and implementation (ß = 0.336; p < 0.001) had the strongest association with firm performance. The mediating role of MC on the relationship between DC and firm performance was assessed, and the analysis result yielded a significant result (ß = 0.439; t = 6.174; p < 0.001). Finally, the moderating effect of ED on the direct relationship between MC and firm performance was assessed. Yet, the interaction term was insignificant (ß = 0.013; t = 0.103; p = 0.918) in predicting firm performance.\u0000\u0000\u0000Research limitations/implications\u0000Although the data set covers a broad range of firms operating in the Turkish automotive industry, the generalization of findings should only be possible through obtaining fresh evidence from other emerging markets that possess the similar market characteristics of Turkey. The cross-sectional nature of the study may offer insights only for a certain period of time; thus, additional longitudinal studies are recommended to see the dynamic changes on the constructs and relationships between them. Future studies may also include qualitative methods, i.e. interviews with top managers to have a ","PeriodicalId":46138,"journal":{"name":"Journal of Asia Business Studies","volume":" ","pages":""},"PeriodicalIF":2.9,"publicationDate":"2022-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48662398","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 : 2022-06-30DOI: 10.1108/jabs-10-2021-0439
Arash Arianpoor, Zahra Sahoor
Purpose
This study aims to mainly explore the impact of business strategy and annual reports readability on financial reporting quality in Tehran Stock Exchange (TSE).
Design/methodology/approach
The sample comprised 160 companies listed in TSE from 2014 to 2020. Five proxies (including two accounting-based attributes and two market-based attributes) were used to measure financial reporting quality. In this study, cost leadership and differentiation strategies were considered and Fog index was used to measure the annual report readability.
Findings
The results showed that in all methods of calculating financial reporting quality, cost leadership strategy, differentiation strategy and annual report readability had a positive and significant impact on financial reporting quality. Also, only at the high level of the differentiation strategy, the annual reports readability influenced financial reporting quality. In addition, at all levels of high and low annual report readability, cost leadership strategy affected financial reporting quality, but only in companies with a high annual report readability, the differentiation strategy affected financial reporting quality. Only for companies with a low readability, the annual report readability affected financial reporting quality.
Originality/value
To the best of the authors’ knowledge, no study had examined the impact of business strategy and annual report readability on financial reporting quality at the core of the present study. Furthermore, little was known about the strategic choices made in Iran. So, the research filled this gap in TSE. This study provided insights for policymakers to enhance the readability and reduce the complexity of annual reports.
{"title":"The impact of business strategy and annual report readability on financial reporting quality","authors":"Arash Arianpoor, Zahra Sahoor","doi":"10.1108/jabs-10-2021-0439","DOIUrl":"https://doi.org/10.1108/jabs-10-2021-0439","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study aims to mainly explore the impact of business strategy and annual reports readability on financial reporting quality in Tehran Stock Exchange (TSE).</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The sample comprised 160 companies listed in TSE from 2014 to 2020. Five proxies (including two accounting-based attributes and two market-based attributes) were used to measure financial reporting quality. In this study, cost leadership and differentiation strategies were considered and Fog index was used to measure the annual report readability.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The results showed that in all methods of calculating financial reporting quality, cost leadership strategy, differentiation strategy and annual report readability had a positive and significant impact on financial reporting quality. Also, only at the high level of the differentiation strategy, the annual reports readability influenced financial reporting quality. In addition, at all levels of high and low annual report readability, cost leadership strategy affected financial reporting quality, but only in companies with a high annual report readability, the differentiation strategy affected financial reporting quality. Only for companies with a low readability, the annual report readability affected financial reporting quality.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>To the best of the authors’ knowledge, no study had examined the impact of business strategy and annual report readability on financial reporting quality at the core of the present study. Furthermore, little was known about the strategic choices made in Iran. So, the research filled this gap in TSE. This study provided insights for policymakers to enhance the readability and reduce the complexity of annual reports.</p><!--/ Abstract__block -->","PeriodicalId":46138,"journal":{"name":"Journal of Asia Business Studies","volume":"44 10","pages":""},"PeriodicalIF":2.9,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138513083","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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