Pub Date : 2023-11-09DOI: 10.1177/09721509231197719
Dona Ghosh, Sahana Roy Chowdhury, Apoorva M
Various sectors have been undergoing major changes due to digitalisation. Among these sectors, the finance sector is one which is largely affected due to online banking, cash to cashless, and so on, and digital finance instruments in India have witnessed a revolutionary change over the last decade. By financial instrument, we refer to the various digital financial apps which are used for online cashless transactions such as Paytm, Google Pay, Amazon Pay, PayZapp and so on. The primary emphasis of this research is on the wide range of digital financial instruments and their subsequent adoption in India, based on a survey conducted on 600 individuals (young) from July to October 2021. The study will offer brief discussions of the advantages of utilising these instruments, the challenges of using these instruments, other variables that are keeping individuals from using these apps, and so on. Questionnaire distribution and collection is the major data-gathering approach used to learn about people’s views on these financial products. Attitude, perception and social norms are briefly reviewed and analysed as they pertain to the individual’s decision and intention to utilise digital apps. Following the expected utility theory people are rational, and we find evidence that during economic crises economic entities behave differently and economic incentives may not often work if they have a strong negative perception of the economy. Our result strengthens these arguments, it reveals that economic perception considerably moderated the connection between perceived usefulness and mobile apps for money transactions (MAMT) use implying that economic perception strengthens the impact of the independent variable. On the other hand, the result shows that economic perception significantly weakens the impact of social influence on the usage of MAMT. However, the perceived economic crisis has no moderating impact on the relationship between perceived ease of use and usage of MAMT. This has something to do with innovation, and creating intrinsic product or service-based value addition that hardly changes with the economy’s perception—whether it is in crisis or a business-as-usual. The present study in the Indian context contrasts with most of the literature that concludes based on pre-COVID scenarios, and, thus, has wider business implications in the new-normal world. Mobile app developers now should emphasise factors while optimising and designing their pricing and promotional strategies.
{"title":"The Influence of Economic Perception on the Adoption of App-based Financial Transactions: A Study Among the Young Population in India","authors":"Dona Ghosh, Sahana Roy Chowdhury, Apoorva M","doi":"10.1177/09721509231197719","DOIUrl":"https://doi.org/10.1177/09721509231197719","url":null,"abstract":"Various sectors have been undergoing major changes due to digitalisation. Among these sectors, the finance sector is one which is largely affected due to online banking, cash to cashless, and so on, and digital finance instruments in India have witnessed a revolutionary change over the last decade. By financial instrument, we refer to the various digital financial apps which are used for online cashless transactions such as Paytm, Google Pay, Amazon Pay, PayZapp and so on. The primary emphasis of this research is on the wide range of digital financial instruments and their subsequent adoption in India, based on a survey conducted on 600 individuals (young) from July to October 2021. The study will offer brief discussions of the advantages of utilising these instruments, the challenges of using these instruments, other variables that are keeping individuals from using these apps, and so on. Questionnaire distribution and collection is the major data-gathering approach used to learn about people’s views on these financial products. Attitude, perception and social norms are briefly reviewed and analysed as they pertain to the individual’s decision and intention to utilise digital apps. Following the expected utility theory people are rational, and we find evidence that during economic crises economic entities behave differently and economic incentives may not often work if they have a strong negative perception of the economy. Our result strengthens these arguments, it reveals that economic perception considerably moderated the connection between perceived usefulness and mobile apps for money transactions (MAMT) use implying that economic perception strengthens the impact of the independent variable. On the other hand, the result shows that economic perception significantly weakens the impact of social influence on the usage of MAMT. However, the perceived economic crisis has no moderating impact on the relationship between perceived ease of use and usage of MAMT. This has something to do with innovation, and creating intrinsic product or service-based value addition that hardly changes with the economy’s perception—whether it is in crisis or a business-as-usual. The present study in the Indian context contrasts with most of the literature that concludes based on pre-COVID scenarios, and, thus, has wider business implications in the new-normal world. Mobile app developers now should emphasise factors while optimising and designing their pricing and promotional strategies.","PeriodicalId":47569,"journal":{"name":"Global Business Review","volume":" 29","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135242418","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 : 2023-10-31DOI: 10.1177/09721509231196631
Swapan Deep Arora, Anirban Chakraborty, Vijay Pal Singh
While consumer complaining behaviour (CCB) has seen phenomenal scholarly interest, its effortful facets, such as complaints to regulators or the legal system, remain under investigated. Viewing complaints as deeper patterns of systemic malaise, this study has explored consumers’ legal claims from the perspective of individual complainers. Relying on informants’ lived experiences explicated through semi-structured interviews and a blend of inductive and deductive inferencing, a complaint journey framework based on the dispute tree paradigm was charted. The study’s findings map relevant complaint antecedent and exacerbator themes to the formative stages of naming, claiming, blaming and disputing and visualize consumer problems as they reach the law after germinating through these stages. The work contributes to theory and practice by broadening the understanding of CCB motives, emphasizing the role of emotions, identifying consumers’ recovery expectations and revealing legal action as a blend of agentic choice and structural necessity. In delineating the individual vigilant consumers’ role in shaping the consumer protection framework into motion and their experience of legality, we also raise the need for policy refinements.
{"title":"Consumers’ Legal Claims: Motives, Expectations and the Complaint Journey of Indian Consumers","authors":"Swapan Deep Arora, Anirban Chakraborty, Vijay Pal Singh","doi":"10.1177/09721509231196631","DOIUrl":"https://doi.org/10.1177/09721509231196631","url":null,"abstract":"While consumer complaining behaviour (CCB) has seen phenomenal scholarly interest, its effortful facets, such as complaints to regulators or the legal system, remain under investigated. Viewing complaints as deeper patterns of systemic malaise, this study has explored consumers’ legal claims from the perspective of individual complainers. Relying on informants’ lived experiences explicated through semi-structured interviews and a blend of inductive and deductive inferencing, a complaint journey framework based on the dispute tree paradigm was charted. The study’s findings map relevant complaint antecedent and exacerbator themes to the formative stages of naming, claiming, blaming and disputing and visualize consumer problems as they reach the law after germinating through these stages. The work contributes to theory and practice by broadening the understanding of CCB motives, emphasizing the role of emotions, identifying consumers’ recovery expectations and revealing legal action as a blend of agentic choice and structural necessity. In delineating the individual vigilant consumers’ role in shaping the consumer protection framework into motion and their experience of legality, we also raise the need for policy refinements.","PeriodicalId":47569,"journal":{"name":"Global Business Review","volume":"235 ","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135871379","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 : 2023-10-29DOI: 10.1177/09721509231198659
Mansor H. Ibrahim, Raditya Sukmana
This article examines the causal relation between monetary policy and an exchange rate for a large emerging economy, Indonesia. In the analysis, we employ a vector autoregressive (VAR) model comprising of the rupiah exchange rate, monetary policy variable (interest rate or interest rate differential) and inflation rate and use monthly data after the global financial crisis from 2009 to 2022. Our baseline result suggests that the rupiah exchange rate appreciates following monetary policy tightening. We note further that the appreciating effect of monetary policy is more apparent when the interest rate differential is used as an indicator of monetary policy and is robust to the addition of the fourth variable (alternatively the US inflation, market uncertainty and oil price) in the VAR framework. These results likely reflect the importance of central bank independence and inflation-targeting framework in enhancing the credibility of Indonesia’s monetary policy.
{"title":"Monetary Policy and Exchange Rate in a Large Emerging Economy","authors":"Mansor H. Ibrahim, Raditya Sukmana","doi":"10.1177/09721509231198659","DOIUrl":"https://doi.org/10.1177/09721509231198659","url":null,"abstract":"This article examines the causal relation between monetary policy and an exchange rate for a large emerging economy, Indonesia. In the analysis, we employ a vector autoregressive (VAR) model comprising of the rupiah exchange rate, monetary policy variable (interest rate or interest rate differential) and inflation rate and use monthly data after the global financial crisis from 2009 to 2022. Our baseline result suggests that the rupiah exchange rate appreciates following monetary policy tightening. We note further that the appreciating effect of monetary policy is more apparent when the interest rate differential is used as an indicator of monetary policy and is robust to the addition of the fourth variable (alternatively the US inflation, market uncertainty and oil price) in the VAR framework. These results likely reflect the importance of central bank independence and inflation-targeting framework in enhancing the credibility of Indonesia’s monetary policy.","PeriodicalId":47569,"journal":{"name":"Global Business Review","volume":"13 4","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136135020","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 : 2023-10-29DOI: 10.1177/09721509231199304
Kamran Mohy-ud-Din
Corporate directors play a crucial role in meeting the Corporate Social Responsibility (CSR) reporting obligation. Thus, how to promote CSR practices through MNCs has attracted the attention of scholars. This study aims to investigate the impact of the board composition index on CSR disclosure in the context of the United States. In addition, the study examines whether board characteristics (board size, board diligence, board duality and board independence) impact CSR disclosure. Panel data for S&P 1500 index firms were collected from the data stream portal. The current study employed a sample of 286 US firms from 2010 to 2020. To achieve the research objectives, the current study develops an index score very first time for board composition. A panel regression model with fixed and random effects was employed to estimate the proposed hypotheses. In addition, the problem of endogeneity was resolved through the dynamic GMM model. The results of the study revealed that the board composition index has a significant impact on the disclosure of CSR information. Moreover, higher board diligence and independence in US corporates enhance CSR disclosure. However, board duality and the size of the board room negatively and significantly impact CSR. US policymakers and legislators make reforms in composition and structure to build stakeholders’ interest. In addition, no study combined such corporate board variables to address CSR in developed countries. The findings of the study are consistent with both institutional and stakeholder theory.
{"title":"Role of Board Composition Index in Corporate Social Responsibility (CSR) Disclosure: Evidence From United States","authors":"Kamran Mohy-ud-Din","doi":"10.1177/09721509231199304","DOIUrl":"https://doi.org/10.1177/09721509231199304","url":null,"abstract":"Corporate directors play a crucial role in meeting the Corporate Social Responsibility (CSR) reporting obligation. Thus, how to promote CSR practices through MNCs has attracted the attention of scholars. This study aims to investigate the impact of the board composition index on CSR disclosure in the context of the United States. In addition, the study examines whether board characteristics (board size, board diligence, board duality and board independence) impact CSR disclosure. Panel data for S&P 1500 index firms were collected from the data stream portal. The current study employed a sample of 286 US firms from 2010 to 2020. To achieve the research objectives, the current study develops an index score very first time for board composition. A panel regression model with fixed and random effects was employed to estimate the proposed hypotheses. In addition, the problem of endogeneity was resolved through the dynamic GMM model. The results of the study revealed that the board composition index has a significant impact on the disclosure of CSR information. Moreover, higher board diligence and independence in US corporates enhance CSR disclosure. However, board duality and the size of the board room negatively and significantly impact CSR. US policymakers and legislators make reforms in composition and structure to build stakeholders’ interest. In addition, no study combined such corporate board variables to address CSR in developed countries. The findings of the study are consistent with both institutional and stakeholder theory.","PeriodicalId":47569,"journal":{"name":"Global Business Review","volume":"41 3","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136135024","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 : 2023-10-29DOI: 10.1177/09721509231197718
Hussain Alali, Ayman E. Haddad
This article aims to explore the risk management practices (RMPs) of Islamic banks (IBs) and conventional banks (CBs) in the Gulf Cooperation Council (GCC). It assesses the different phases of RMP, including risk understanding; risk identification; risk assessment and analysis; and risk monitoring. This study conducts a structured survey questionnaire to assess the RMP in both types of banks. We find that both types of banks rank the importance of RMP above the mid-point of the 5-point Likert scale. Using t-test analysis, we find no significant difference in RMP between both types of banks, except for understanding risk practice phase. Managers of CBs have a better understanding of risk management (RM) than IBs. We also examine the impact of RMP on banks’ financial performance. The average return on Assets (ROA) and the average return on equity (ROE) over the years (2010–2017) are used as a proxy for financial performance. Applying robust White regression OLS, we find a significant impact on financial performance measures only for IBs. We refer to the fact that IBs follow the equity approach based on risk-sharing with their clients (depositors and investors). The regulatory authorities may find this study useful in enticing banks to implement the best RMP and so improve banks’ performance.
{"title":"GCC Banking Companies Risk Management Practices and its Impact on Their Financial Performance","authors":"Hussain Alali, Ayman E. Haddad","doi":"10.1177/09721509231197718","DOIUrl":"https://doi.org/10.1177/09721509231197718","url":null,"abstract":"This article aims to explore the risk management practices (RMPs) of Islamic banks (IBs) and conventional banks (CBs) in the Gulf Cooperation Council (GCC). It assesses the different phases of RMP, including risk understanding; risk identification; risk assessment and analysis; and risk monitoring. This study conducts a structured survey questionnaire to assess the RMP in both types of banks. We find that both types of banks rank the importance of RMP above the mid-point of the 5-point Likert scale. Using t-test analysis, we find no significant difference in RMP between both types of banks, except for understanding risk practice phase. Managers of CBs have a better understanding of risk management (RM) than IBs. We also examine the impact of RMP on banks’ financial performance. The average return on Assets (ROA) and the average return on equity (ROE) over the years (2010–2017) are used as a proxy for financial performance. Applying robust White regression OLS, we find a significant impact on financial performance measures only for IBs. We refer to the fact that IBs follow the equity approach based on risk-sharing with their clients (depositors and investors). The regulatory authorities may find this study useful in enticing banks to implement the best RMP and so improve banks’ performance.","PeriodicalId":47569,"journal":{"name":"Global Business Review","volume":"69 12","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136135523","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 : 2023-10-18DOI: 10.1177/09721509231199301
Sugandh Ahuja, Shveta Singh, Surendra Singh Yadav
While cross-border acquisitions by emerging economies are increasing over time, a significant percentage of deals are withdrawn before completion. By integrating the ‘organizational learning lens perspective’ with the ‘signalling lens perspective’, this study aims to investigate deal-specific, firm-specific and country-specific factors that can increase the likelihood of deal completion. The analysis is based on 16 years of data from a prominent emerging economy: India, from 2005 to 2021. A binary logistic regression model is used to understand the determinants of deal completion. Additionally, standard event study methodology is deployed for a particular firm-specific determinant (market reaction to deal announcement) to develop a proxy for the variable. Our findings indicate that factors which enhance learning during the acquisition process and communicate strong and positive signals to build trust between the acquirer and target positively impact the completion of announced acquisitions. Specifically, we report that acquisitions using cash as the payment method and those that receive positive market reactions at the time of acquisition announcement exhibit a higher likelihood of completion. In contrast, the prior failure experience of the acquirer has a detrimental impact on the likelihood of deal completion. The empirical results have important implications for improving the success of cross-border deals from emerging nations.
{"title":"Determinants of Cross-border Acquisition Completion: A Study of Acquisitions by Indian Firms","authors":"Sugandh Ahuja, Shveta Singh, Surendra Singh Yadav","doi":"10.1177/09721509231199301","DOIUrl":"https://doi.org/10.1177/09721509231199301","url":null,"abstract":"While cross-border acquisitions by emerging economies are increasing over time, a significant percentage of deals are withdrawn before completion. By integrating the ‘organizational learning lens perspective’ with the ‘signalling lens perspective’, this study aims to investigate deal-specific, firm-specific and country-specific factors that can increase the likelihood of deal completion. The analysis is based on 16 years of data from a prominent emerging economy: India, from 2005 to 2021. A binary logistic regression model is used to understand the determinants of deal completion. Additionally, standard event study methodology is deployed for a particular firm-specific determinant (market reaction to deal announcement) to develop a proxy for the variable. Our findings indicate that factors which enhance learning during the acquisition process and communicate strong and positive signals to build trust between the acquirer and target positively impact the completion of announced acquisitions. Specifically, we report that acquisitions using cash as the payment method and those that receive positive market reactions at the time of acquisition announcement exhibit a higher likelihood of completion. In contrast, the prior failure experience of the acquirer has a detrimental impact on the likelihood of deal completion. The empirical results have important implications for improving the success of cross-border deals from emerging nations.","PeriodicalId":47569,"journal":{"name":"Global Business Review","volume":"243 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135823427","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 : 2023-10-16DOI: 10.1177/09721509231184765
Anjali Sain, Smita Kashiramka
The financial stability of the banking sector is a prerequisite for a thriving and stable economy. Against this backdrop, this article investigates the relationship between bank profitability and the financial stability of the banks by explicitly capturing the role of bank size, institutional quality and market concentration. A sample of 776 banks operating in Brazil, Russia, India, China and South Africa over the period 2005–2020 are examined using panel regression and System GMM. Our findings support this axiom, and we conclude that bank profitability plays a critical role in determining the stability of the financial system. Our results are consistent across alternate measures of stability (VaR and ∇CoVaR), albeit insignificant. Furthermore, the results support the existence of the concentration–stability hypothesis in the banking industry of BRICS nations. The findings also indicate that non-interest income and NPA have a negative impact on stability, whereas institutional quality plays a significant role in maintaining the stability of the banking industry in these emerging economies. This article tries to provide empirical research investigating the association of the financial stability of banks with profitability, non-interest income ratio, market concentration and institutional quality.
{"title":"Profitability–Stability Nexus in Commercial Banks: Evidence from BRICS","authors":"Anjali Sain, Smita Kashiramka","doi":"10.1177/09721509231184765","DOIUrl":"https://doi.org/10.1177/09721509231184765","url":null,"abstract":"The financial stability of the banking sector is a prerequisite for a thriving and stable economy. Against this backdrop, this article investigates the relationship between bank profitability and the financial stability of the banks by explicitly capturing the role of bank size, institutional quality and market concentration. A sample of 776 banks operating in Brazil, Russia, India, China and South Africa over the period 2005–2020 are examined using panel regression and System GMM. Our findings support this axiom, and we conclude that bank profitability plays a critical role in determining the stability of the financial system. Our results are consistent across alternate measures of stability (VaR and ∇CoVaR), albeit insignificant. Furthermore, the results support the existence of the concentration–stability hypothesis in the banking industry of BRICS nations. The findings also indicate that non-interest income and NPA have a negative impact on stability, whereas institutional quality plays a significant role in maintaining the stability of the banking industry in these emerging economies. This article tries to provide empirical research investigating the association of the financial stability of banks with profitability, non-interest income ratio, market concentration and institutional quality.","PeriodicalId":47569,"journal":{"name":"Global Business Review","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136142932","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 : 2023-10-13DOI: 10.1177/09721509231202000
Sriram Soundararajan, Upasana Singh, Mudit Gera
The main purpose of this research is a study which examines the effects of involvement in adventure tourism, positive attitude towards adventure tourism, and destination image on intention to visit adventurous destinations and word-of-mouth intention by developing and testing a conceptual framework. Moreover, since adventure tourism is characterized by a high degree of risk, perceived risk is included as a moderator in the aforementioned relationships. There is a paucity of research conducted in the adventure tourism area to investigate what drives Indian tourists to indulge in adventure tourism. A survey is conducted on 500 respondents in the present article, wherein the results show that involvement, attitude and destination image affect tourist behaviour positively. Contrary to the general consensus, perceived risk is found to positively moderate some of these aforementioned relationships. The key implication of the study shows that adventure tourism marketers and service providers must focus on the tourist behavioural intention. A high-risk adventure tourism destination could drive many tourists towards it. Recommendations are proposed along with the future areas of research in this study.
{"title":"Adventure Tourism: Behavioural Drivers to Visit and Spread Word of Mouth with Perceived Risk as Moderator","authors":"Sriram Soundararajan, Upasana Singh, Mudit Gera","doi":"10.1177/09721509231202000","DOIUrl":"https://doi.org/10.1177/09721509231202000","url":null,"abstract":"The main purpose of this research is a study which examines the effects of involvement in adventure tourism, positive attitude towards adventure tourism, and destination image on intention to visit adventurous destinations and word-of-mouth intention by developing and testing a conceptual framework. Moreover, since adventure tourism is characterized by a high degree of risk, perceived risk is included as a moderator in the aforementioned relationships. There is a paucity of research conducted in the adventure tourism area to investigate what drives Indian tourists to indulge in adventure tourism. A survey is conducted on 500 respondents in the present article, wherein the results show that involvement, attitude and destination image affect tourist behaviour positively. Contrary to the general consensus, perceived risk is found to positively moderate some of these aforementioned relationships. The key implication of the study shows that adventure tourism marketers and service providers must focus on the tourist behavioural intention. A high-risk adventure tourism destination could drive many tourists towards it. Recommendations are proposed along with the future areas of research in this study.","PeriodicalId":47569,"journal":{"name":"Global Business Review","volume":"59 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135854776","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 : 2023-10-10DOI: 10.1177/09721509231199300
Nevi Danila
This article studies the herding behaviour of environmental, social and governance stock indices in the emerging market based on International Monetary Fund emerging market criteria. We use the daily data as a sample. Cross-sectional absolute deviation is employed to identify the herding behaviour of the investors. The findings report that all the indices do not exhibit herding behaviour, even under the upwards and downwards episodes of the market. When oil price and implied volatility are included in the model, the herding only existed in some samples, such as Egypt and India, during upwards oil price fluctuation and implied volatility, respectively. Meanwhile, Brazil, China and Taiwan also show evidence of herding behaviour during downwards oil price fluctuation. It is due to the large size of the companies with solid governance norm included in the indices, and the information on the companies are widely available. It gives the implication that the investors do not rely on others in the investment decision.
{"title":"Herding Behaviour in ESG Stock Index: Evidence from Emerging Markets","authors":"Nevi Danila","doi":"10.1177/09721509231199300","DOIUrl":"https://doi.org/10.1177/09721509231199300","url":null,"abstract":"This article studies the herding behaviour of environmental, social and governance stock indices in the emerging market based on International Monetary Fund emerging market criteria. We use the daily data as a sample. Cross-sectional absolute deviation is employed to identify the herding behaviour of the investors. The findings report that all the indices do not exhibit herding behaviour, even under the upwards and downwards episodes of the market. When oil price and implied volatility are included in the model, the herding only existed in some samples, such as Egypt and India, during upwards oil price fluctuation and implied volatility, respectively. Meanwhile, Brazil, China and Taiwan also show evidence of herding behaviour during downwards oil price fluctuation. It is due to the large size of the companies with solid governance norm included in the indices, and the information on the companies are widely available. It gives the implication that the investors do not rely on others in the investment decision.","PeriodicalId":47569,"journal":{"name":"Global Business Review","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136352952","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 : 2023-10-10DOI: 10.1177/09721509231195994
Mohammed Alawi Al-sakkaf, Zurina Mohaidin, Mohsen Ali Murshid, Mohammed Basendwah, Saleh Amarneh
Based on stakeholder and social exchange theories, support for tourism development is strongly influenced by destination social responsibility (DSR). Despite the grand intentions, DSR is still being sparingly employed by Saudi destination management, probably because its effects on tourism impacts (economic, socio-cultural and environmental) are still unknown. In the context of Saudi Arabia, this study sought to provide an empirical examination of the relationship between DSR and tourism impacts, which in turn influenced residents’ support for tourism development. The study sample consisted of 452 residents gathered from three main destinations in Saudi Arabia. PLS-SEM was used to analyse the data and test hypotheses. The results indicated a positive relationship between DSR and tourism impacts such as economic, socio-cultural and environmental. Another notable finding was that two tourism impacts mediate the relationship between DSR and support for tourism development. Furthermore, community participation had a statistically significant positive moderating effect on DSR perceptions and support for tourism development. The moderation effect of community participation on this relationship was found to be a theoretical contribution to this study.
{"title":"A Mediated Moderation Model of Destination Social Responsibility and Residents’ Support for Tourism Development in Saudi Arabia","authors":"Mohammed Alawi Al-sakkaf, Zurina Mohaidin, Mohsen Ali Murshid, Mohammed Basendwah, Saleh Amarneh","doi":"10.1177/09721509231195994","DOIUrl":"https://doi.org/10.1177/09721509231195994","url":null,"abstract":"Based on stakeholder and social exchange theories, support for tourism development is strongly influenced by destination social responsibility (DSR). Despite the grand intentions, DSR is still being sparingly employed by Saudi destination management, probably because its effects on tourism impacts (economic, socio-cultural and environmental) are still unknown. In the context of Saudi Arabia, this study sought to provide an empirical examination of the relationship between DSR and tourism impacts, which in turn influenced residents’ support for tourism development. The study sample consisted of 452 residents gathered from three main destinations in Saudi Arabia. PLS-SEM was used to analyse the data and test hypotheses. The results indicated a positive relationship between DSR and tourism impacts such as economic, socio-cultural and environmental. Another notable finding was that two tourism impacts mediate the relationship between DSR and support for tourism development. Furthermore, community participation had a statistically significant positive moderating effect on DSR perceptions and support for tourism development. The moderation effect of community participation on this relationship was found to be a theoretical contribution to this study.","PeriodicalId":47569,"journal":{"name":"Global Business Review","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136293026","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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