EuroMed Journal of Business最新文献

Purpose

Based on the theoretical framework, this paper analyzes the sentiment-herding relationship in emerging stock markets (ESMs). First, it aims to examine the effect of investor sentiment on herding. Second, it seeks the direction of causality between sentiment and herding time series.

Design/methodology/approach

The present study applies the Exponential Generalized Auto_Regressive Conditional Heteroskedasticity (EGARCH) model to capture the volatility clustering of herding on the financial market and to investigate the role of the investor sentiment on herding behaviour. Then the vector autoregression (VAR) estimation uses the Granger causality test to determine the direction of causality between the investor sentiment and herding. This study uses a sample consisting of stocks listed on the Shanghai Composite index (SSE) (348 stocks), the Jakarta composite index (JKSE) (118 stocks), the Mexico IPC index (14 stocks), the Russian Trading System index (RTS) (12 stocks), the Warsaw stock exchange General index (WGI) (106 stocks) and the FTSE/JSE Africa all-share index (76 stocks). The sample includes 5,020 daily observations from February 1, 2002, to March 31, 2021.

Findings

The research findings show that the sentiment has a significant negative impact on the herding behaviour pointing out that the higher the investor sentiment, the lower the herding. However, the results of the present study indicate that a higher investor sentiment conducts a higher herding behaviour during market downturns. Then the outcomes suggest that during the crisis period, the direction is one-way, from the investor sentiment to the herding behaviour.

Practical implications

The findings may have implications for universal policies of financial regulators in EMs. We have found evidence that the Emerging investor sentiment contributes to the investor herding behaviour. Therefore, the irrational investor herding behaviour can increase the stock market volatility, and in extreme cases, it may lead to bubbles and crashes. Market regulators could implement mechanisms that can supervise the investor sentiment and predict the investor herding behaviour, so they make policies helping stabilise stock markets.

Originality/value

The originality of this paper lies in investigate the sentiment-herding relationship during the Surprime crisis and the Covid-19 epidemic in the EMs.

Purpose

We aim to conduct a bibliometric analysis that explores and maps quantitative data of the emerging field of central bank digital currencies in science and its implications in practice. We seek to clarify the underlying research structures and streams of the new phenomena, and our motivation is the rising number of pilots between governments seeking to implement different types of central bank digital currency.

Design/methodology/approach

We designed the unique set of keywords to explore ongoing projects on central bank digital currencies and the evolution of scientific thought on the topic. We conducted a descriptive analysis and an evaluating bibliometric analysis on the timeline from 2018 to April 18, 2023 and investigated 76 articles in the Web of Science database and 152 articles in the Scopus database using VOSviewer.

Findings

We highlight three main directions of discourse on central bank digital currencies in economics using authors keyword analysis, that are: (1) cash, (2) monetary policy and (3) financial stability. We conducted a map-based text analysis of the abstracts and identified the following main streams of discussion in the field: (1) policy-related research on financial systems, (2) a comprehensive review of the design and features of central bank digital currencies and (3) research on the impact of central bank digital currencies on the banking system.

Originality/value

The unique set of keywords allows us to continue the discourse on central bank digital currencies including implications of ongoing governmental projects on the topic and provide directions for future research. We brought the focus on the impact of central bank digital currencies on the banking sector and the new possible order for cash, deposits and payments.

Purpose

This research explores the link between job redesign and skilling in three Lebanese service provider industries, aiming to understand how these factors affect organizational agility, a crucial factor for efficiency and effectiveness and promote long-term interventions through job redesign, upskilling and reskilling.

Design/methodology/approach

This study employed two surveys, one for personnel (employees) and one for human aid managers (HR managers). These surveys collected data from 384 employees and 67 HR managers. The study utilized a work design questionnaire (WDQ), skilling application evaluation and the change acceptance model and testing to evaluate job redesign, skilling application effectiveness, technology acceptance and change readiness.

Findings

It was revealed that there is a significant and positive relationship between job redesign and the application of skilling programs. This relationship was shown to enhance organizational agility, with a particular focus on employees' technology acceptance and readiness for change. The integrated framework that combines job redesign, upskilling and reskilling was empirically tested and found to enable organizations to build their agility. The study also identified challenges and offered solutions for implementation, emphasizing the importance of employee responsiveness.

Practical implications

This research emphasizes the need for organizations to adapt job designs and enhance employee skills to enhance organizational agility, recommending a structured approach that combines job redesign and skill development efforts.

Originality/value

This research integrates job redesign, upskilling and reskilling in Lebanese service provider industries, contributing to organizational change and workforce development. It emphasizes technology acceptance and readiness for change.

Purpose

This study aims to understand how consumers evaluate downscale vertical line extensions of a prestige/luxury original equipment manufacturer (OEM) in the European automotive market. The authors investigate the moderator effects of innovativeness and the need-for-status traits on the relationships between consumers' extension perceived fit (EPF), extension attitude (EA) and extension perceived value (EPV).

Design/methodology/approach

Experimental design with quantitative analyses based on a sample of 419 participants. Participants were randomly assigned to two treatments: low-fit and high-fit extension simulations.

Findings

The purchase intention of the downscale vertical extension of a luxury OEM brand is directly influenced by EPV and indirectly influenced by consumer EA and EPF with the parent brand. Findings also suggest that parent brand equity is transferable to extensions that present closeness and consistency with the brand’s heritage. Moreover, the need for status strengthens the relationship between the EPF and the extension perceived social value (EPSV).

Originality/value

The authors developed a realistic simulation of a downscale model of a well-known prestige/luxury car brand. The authors test the influence of innovativeness and need-for-status personal traits on consumer extension acceptance.

Purpose

This study aims to explore the use of gamification elements by micro and small e-tailers to enhance customer loyalty. Additionally, this research seeks to identify the most promising gamification elements that can be utilised for this purpose.

Design/methodology/approach

The authors adopt a qualitative approach to examine the impact of gamification on online customer loyalty to micro and small e-tailers. Data were gathered using a combination of two types of expert interviews. Semi-structured interviews were held with micro and small e-tailers while large e-tailers served as the control group. Structured interviews based on multi-criteria decision analysis (MCDA) models were conducted to determine the most promising gamification elements.

Findings

The content analysis reveals that gamification has significant potential for fostering customer loyalty and offering various other benefits. However, small e-tailers often refrain from implementing gamification solutions due to the resource requirements in terms of finances, time, information technology and human capital. By assigning weights as an essential step in MCDA models, the authors determined that badges, medals, quests, avatars and competitions are the most promising gamification options for small e-tailers’ efforts to enhance customer loyalty.

Originality/value

The study makes a unique contribution to the understanding of the usefulness of gamification in augmenting customer loyalty and identifying essential gamification elements for micro and small e-tailers.

Purpose

The importance of inclusive leadership has been recognized by scholars and practitioners alike. However, the ways in which inclusive leadership can be achieved and implemented in hospitality seem to be unclear. In order to answer how inclusive leadership can be put into practice in hospitality, this paper explores (1) employees' and managers' perceptions of inclusion and (2) diversity practices in hotel organizations.

Design/methodology/approach

By espousing a qualitative methodology, semi-structured interviews with management representatives, as well as local and foreign employees of 4- and 5-star hotel organizations, were utilized in order to identify what inclusive leadership looks like in theory and in practice. Data were analyzed via thematic analysis and the utilization of the NVivo software.

Findings

Findings suggest that an inclusive leader should be caring and respectful, pursue fair treatment, support employee development, express employee appreciation and recognize their role in social inclusion more widely.

Originality/value

This original work reduces the research-practice gap in the field of diversity management by providing succinct recommendations to hospitality managers in the form of an adaptable best practice framework. The diagrammatic framework includes the values related to inclusive leadership as they emerged, as well as the practices through which each theme could be enacted.

Purpose

The purpose of this study is to examine within a unified framework the timeliness and conservatism of accounting disclosure accommodating the transmission of news among the Scandinavian stock markets.

Design/methodology/approach

To this end the authors have used an augmented ordinary least squares (OLS) approach and univariate generalized autoregressive conditional heteroskedastic and vector autoregressive (VAR) modeling. The sample covers the period from 1987 to 2020, totaling 1452 observations. The sample was collected from the datastream database.

Findings

The empirical results of this study are consistent with previous findings and provide evidence that accounting reporting is timely and conservative while news is transmitted amongst the Scandinavian stock markets.

Practical implications

The findings could be important for investors, firms and regulators since failure of considering information that is derived from more advanced approaches could result in lower quality of annual reports of companies.

Originality/value

The authors examined the relationship between earnings yield and conditional risk using an augmented OLS model and the transmission of news among Scandinavian stock markets using a VAR model.

Purpose

This research aims (i) to assess the level of customer satisfaction and loyalty to self-service technologies and Auchan Retail Portugal, (ii) to identify the determinants of customer satisfaction and loyalty to these technologies and also, (iii) to identify their influence on customer loyalty to this modern distribution retailer operating in Portugal.

Design/methodology/approach

A conceptual model was defined to meet the research objectives and to carry out the quantitative analysis applied to the random sample (n = 483) of customers. The data used where gathered via an online questionnaire survey, which covered all dimensions of the conceptual model, applied in 2021 in Portugal. To validate the hypotheses, Cronbach’s alpha and multiple linear regression models were used.

Findings

The results reveal that customer satisfaction with self-service technologies has a direct and positive effect on customer loyalty to Auchan Retail Portugal. Furthermore, results reveal that the technology utility factors significantly influence the customer technology experience which has an impact on perceived service quality and perceived risk. The findings of this research provide data on how to improve customer adoption and satisfaction with self-service technology and highlight that these technologies should be part of firm’s competitive strategy.

Originality/value

This study presents itself as a novelty for science, while granting important contributions to the retailer. It presents an innovative conceptual model that delivers to Auchan the basis for it to move toward smart retail technologies, aiming at the market trend of personalization. For future research, this study can be used as an instrument to evaluate the customer experience with self-service technology and to examine the determinants and effects of self-service technology separately.

Purpose

This study aims to investigate the impact of emotional intelligence on work engagement by exploring the mediating roles of self-efficacy and psychological empowerment in this relationship.

Design/methodology/approach

Using the survey method, data were collected through both physical and online means. The final sample comprised 304 teachers working in elementary, middle and high schools. Structural equation modeling (SEM) analysis, utilizing IBM Amos version 26, was employed to assess the hypothesized model.

Findings

The study's results revealed that emotional intelligence does not exert a direct impact on work engagement. Additionally, self-efficacy was not found to mediate the relationship between emotional intelligence and work engagement. However, psychological empowerment emerged as a mediating factor in this context. Furthermore, self-efficacy and psychological empowerment concurrently demonstrated significant mediation of the relationship between emotional intelligence and work engagement.

Research limitations/implications

The findings underscore the significance of teachers' emotional intelligence, suggesting that it can have profound implications for their work engagement through the mediating mechanisms of self-efficacy and psychological empowerment. Educational principals and administrators are encouraged to prioritize the enhancement of teachers' psychological empowerment, recognizing it as a pivotal link between teachers' emotional intelligence and work engagement.

Originality/value

This study contributes to the field by comprehensively examining the mediating roles of self-efficacy and psychological empowerment, addressing prior empirical gaps, and enriching the understanding of how emotional intelligence influences work engagement within the educational sphere.