Pub Date : 2021-11-14DOI: 10.22059/IJMS.2021.312298.674270
Hosein Rezaei Doolatabadi, Arash Naghash, S. F. A. Aghdaie
One of the important strategies to build powerful consumer based-brand equity (CBBE) for products is to connect them to celebrities. The use of this key marketing strategy is growing around the world. The present study aimed to explore the effects of endorser credibility and endorser congruence on CBBE while considering the mediating role of congruence and the moderating role of brand type (strong/weak). The statistical population and sampling method of the study is the buyers of megamalls in Tehran and simple random sampling respectively. Totally, 186 questionnaires were completed. The data analysis and structural equation modeling approach in SmartPLS software was used to test the hypotheses. The results of the hypothesis tests showed that celebrity endorser’s credibility had a significant positive effect on endorser congruence and CBBE. In addition, endorser congruence had a positive impact on CBBE. The findings reveal that in the statistical sample of the present study, the effect of the variable celebrity endorser on congruence and CBBE did not differ from the perspective of brand type (strong/weak) and that this variable had a positive and significant effect on paths between ‘celebrity credibility-celebrity congruence’ and ‘celebrity credibility-CBBE’. From these findings, important theoretical and managerial implications have been derived.
{"title":"The analysis of the Moderation Role of Brand Type on the association of Endorser Credibility with Endorser Congruence and Consumer Based-Brand Equity","authors":"Hosein Rezaei Doolatabadi, Arash Naghash, S. F. A. Aghdaie","doi":"10.22059/IJMS.2021.312298.674270","DOIUrl":"https://doi.org/10.22059/IJMS.2021.312298.674270","url":null,"abstract":"One of the important strategies to build powerful consumer based-brand equity (CBBE) for products is to connect them to celebrities. The use of this key marketing strategy is growing around the world. The present study aimed to explore the effects of endorser credibility and endorser congruence on CBBE while considering the mediating role of congruence and the moderating role of brand type (strong/weak). The statistical population and sampling method of the study is the buyers of megamalls in Tehran and simple random sampling respectively. Totally, 186 questionnaires were completed. The data analysis and structural equation modeling approach in SmartPLS software was used to test the hypotheses. The results of the hypothesis tests showed that celebrity endorser’s credibility had a significant positive effect on endorser congruence and CBBE. In addition, endorser congruence had a positive impact on CBBE. The findings reveal that in the statistical sample of the present study, the effect of the variable celebrity endorser on congruence and CBBE did not differ from the perspective of brand type (strong/weak) and that this variable had a positive and significant effect on paths between ‘celebrity credibility-celebrity congruence’ and ‘celebrity credibility-CBBE’. From these findings, important theoretical and managerial implications have been derived.","PeriodicalId":51913,"journal":{"name":"Iranian Journal of Management Studies","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2021-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49024537","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 : 2021-11-13DOI: 10.22059/IJMS.2021.319975.674462
Hassan Abdollahi, H. Shahbandarzadeh, Khalil Mirzaee
Idea generators and investors are always interested in advancing innovative ideas and generating wealth as a result of them. One of the gaps in previous research in this field is the failure to pay attention to different criteria and strategic paths in advancing innovative ideas from various fields. This research introduced a strategy for advancing innovative ideas and identifying the strategic drivers of small and medium-sized enterprises (SMEs) in various technological fields. The indicators were derived from the literature review and expert interviews, and they were chosen using a checklist and interviews to determine their relationships. The fuzzy cognitive map in question was then created using the FCMapper software. Strategic driver indicators were identified as in advancing innovative ideas. Thus, it is recommended that idea developers consider these indicators when presenting ideas and that experts and investors consider them when evaluating innovative ideas. According to the findings, The Science and Technology Park and its ten active fields each have their own strategic paths for advancing innovative ideas.
{"title":"Introducing strategic drivers of innovative ideas in active small and medium-sized enterprises of different technological fields using a fuzzy cognitive map","authors":"Hassan Abdollahi, H. Shahbandarzadeh, Khalil Mirzaee","doi":"10.22059/IJMS.2021.319975.674462","DOIUrl":"https://doi.org/10.22059/IJMS.2021.319975.674462","url":null,"abstract":"Idea generators and investors are always interested in advancing innovative ideas and generating wealth as a result of them. One of the gaps in previous research in this field is the failure to pay attention to different criteria and strategic paths in advancing innovative ideas from various fields. This research introduced a strategy for advancing innovative ideas and identifying the strategic drivers of small and medium-sized enterprises (SMEs) in various technological fields. The indicators were derived from the literature review and expert interviews, and they were chosen using a checklist and interviews to determine their relationships. The fuzzy cognitive map in question was then created using the FCMapper software. Strategic driver indicators were identified as in advancing innovative ideas. Thus, it is recommended that idea developers consider these indicators when presenting ideas and that experts and investors consider them when evaluating innovative ideas. According to the findings, The Science and Technology Park and its ten active fields each have their own strategic paths for advancing innovative ideas.","PeriodicalId":51913,"journal":{"name":"Iranian Journal of Management Studies","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2021-11-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44905799","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 : 2021-11-06DOI: 10.22059/IJMS.2021.321759.674514
Arezoosadat Hashemiamin, Y. Ramezani
Increasing competition in global markets has led companies to try to keep their employees, who are among the most important intangible assets because they believe that losing employees can impose a huge cost on them. To this end, managers strive to satisfy their employees, and for this purpose, they must be aware of the needs of their employees and the conditions of the organization. In such a situation, the positive voice behavior of employees is very important for managers because, accordingly, their awareness increases. Therefore, it is important to know the factors that can cause this behavior. Since, according to previous studies, employee relaxation is a factor influencing employees' voice behavior, and the presence of managers with psychological skills can create the psychological calm for employees, in this study, the effectiveness of leadership psychological skills on employee voice behavior is examined. Also, because employee work engagement is affected by management's psychological skills and affects employee voice behavior, the mediating role of employee work engagement in the relationship between leadership psychological skills and employee voice behavior was discussed. To achieve the research goals, the numbers of 310 employees of companies active in Iran's food industry were considered as samples.
{"title":"The Mediating Role of Employee Work Engagement in The Relationship Between Leadership Psychological Skills and Employee Voice Behavior","authors":"Arezoosadat Hashemiamin, Y. Ramezani","doi":"10.22059/IJMS.2021.321759.674514","DOIUrl":"https://doi.org/10.22059/IJMS.2021.321759.674514","url":null,"abstract":"Increasing competition in global markets has led companies to try to keep their employees, who are among the most important intangible assets because they believe that losing employees can impose a huge cost on them. To this end, managers strive to satisfy their employees, and for this purpose, they must be aware of the needs of their employees and the conditions of the organization. In such a situation, the positive voice behavior of employees is very important for managers because, accordingly, their awareness increases. Therefore, it is important to know the factors that can cause this behavior. Since, according to previous studies, employee relaxation is a factor influencing employees' voice behavior, and the presence of managers with psychological skills can create the psychological calm for employees, in this study, the effectiveness of leadership psychological skills on employee voice behavior is examined. Also, because employee work engagement is affected by management's psychological skills and affects employee voice behavior, the mediating role of employee work engagement in the relationship between leadership psychological skills and employee voice behavior was discussed. To achieve the research goals, the numbers of 310 employees of companies active in Iran's food industry were considered as samples.","PeriodicalId":51913,"journal":{"name":"Iranian Journal of Management Studies","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2021-11-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41996375","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 : 2021-10-31DOI: 10.22059/IJMS.2021.321003.674489
Q. Nasidi, Isyaku Hassan, Muhamad Fazil Ahmad, M. Garba, Usman Ahmed Hafiz
The invention of web 2.0 and the advancement of information and communication technology have provided consumers and businesses with the opportunity to utilise online transactions. The internet is an essential tool for doing online shopping. Despite the importance and popularity of online shopping, most Nigerian consumers largely depend on conventional shopping rather than online shopping due to their resistance to online shopping habits. In Nigeria, few studies have examined advertising, social media and online risk on online shopping habit. Thus, the study aims to investigate the mediating role of advertising on the relationship between social media and online risk on online shopping habits in Nigeria. A self-administered questionnaire was used to collect data from 375 respondents using a purposive sampling technique. Structural equation modelling was used to analyse and evaluate the hypotheses. The results show that online risk had an insignificant direct effect on online shopping habits. Again, the study result shows that social media has a statistically significant direct effect on online shopping. While advertising mediates the relationship between online risk and online shopping habits, it mediates the relationship between social media and online shopping habits.
web 2.0的发明以及信息和通信技术的进步为消费者和企业提供了利用在线交易的机会。互联网是进行网上购物的重要工具。尽管网上购物很重要，也很受欢迎，但由于抵制网上购物习惯，大多数尼日利亚消费者在很大程度上依赖传统购物，而不是网上购物。在尼日利亚，很少有研究调查广告、社交媒体和网上购物习惯的风险。因此，本研究旨在调查广告在尼日利亚社交媒体和网络风险之间的关系中对网络购物习惯的中介作用。采用有针对性的抽样技术，采用自填问卷从375名受访者中收集数据。结构方程模型被用来分析和评估这些假设。结果表明，网络风险对网络购物习惯的直接影响不显著。研究结果再次表明，社交媒体对网上购物有统计学上显著的直接影响。广告在中介网络风险和网上购物习惯之间的关系的同时，也在中介社交媒体和网上购物习性之间的关系。
{"title":"Mediating Role of Advertising on the Relationship between Social Media and Online Risk on Online Shopping Habits","authors":"Q. Nasidi, Isyaku Hassan, Muhamad Fazil Ahmad, M. Garba, Usman Ahmed Hafiz","doi":"10.22059/IJMS.2021.321003.674489","DOIUrl":"https://doi.org/10.22059/IJMS.2021.321003.674489","url":null,"abstract":"The invention of web 2.0 and the advancement of information and communication technology have provided consumers and businesses with the opportunity to utilise online transactions. The internet is an essential tool for doing online shopping. Despite the importance and popularity of online shopping, most Nigerian consumers largely depend on conventional shopping rather than online shopping due to their resistance to online shopping habits. In Nigeria, few studies have examined advertising, social media and online risk on online shopping habit. Thus, the study aims to investigate the mediating role of advertising on the relationship between social media and online risk on online shopping habits in Nigeria. A self-administered questionnaire was used to collect data from 375 respondents using a purposive sampling technique. Structural equation modelling was used to analyse and evaluate the hypotheses. The results show that online risk had an insignificant direct effect on online shopping habits. Again, the study result shows that social media has a statistically significant direct effect on online shopping. While advertising mediates the relationship between online risk and online shopping habits, it mediates the relationship between social media and online shopping habits.","PeriodicalId":51913,"journal":{"name":"Iranian Journal of Management Studies","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2021-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44713983","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 : 2021-10-27DOI: 10.22059/IJMS.2021.319211.674442
Saba Abdian, M. H. Shahri, A. Khadivar
The emergence of big data is a radical shift in the business context, leading to a change in value creation and capture. This phenomenon is a newborn concept in the business and management literature confirmed by the growing number of publications over recent years. This paper presents an updating comprehensive bibliometric analysis to describe and assess the scientific landscape of value creation and capture based on leveraging big data in the literature. Bibliometrix and VOSviewer were selected as software tools for descriptive and network bibliometric analysis based on the Web of Science Core Collection database from 2011 till 2020. By implementing bibliometric analysis such as analysis of citations and co-occurrence of keywords, we have recognized the most prominent and influential authors, papers, journals, countries, and four potential clusters of current trends in studies. These four trends of value creation and capture from big data studies are: 1) strengthening the basic knowledge of value creation in the big data era, 2) data-driven business model and value capturing, 3) dynamic capabilities and centrality of knowledge, and 4) digital transformation of the service industry. Finally, by identifying the existing research gaps, future research directions in each cluster are demonstrated.
大数据的出现是商业环境的根本转变，导致了价值创造和获取的变化。这种现象在商业和管理文献中是一个新生的概念，近年来越来越多的出版物证实了这一点。本文提出了一个更新的综合文献计量分析，以描述和评估基于利用文献中的大数据的价值创造和获取的科学景观。选取2011 - 2020年Web of Science Core Collection数据库为基础，采用Bibliometrix和VOSviewer作为描述性和网络文献计量分析的软件工具。通过引文分析和关键词共现分析等文献计量分析，我们识别出了最突出、最具影响力的作者、论文、期刊、国家和当前研究趋势的四个潜在集群。从大数据研究来看，价值创造与获取的四个趋势是:1)加强大数据时代价值创造的基础知识，2)数据驱动的商业模式和价值获取，3)知识的动态能力和中心性，4)服务业的数字化转型。最后，通过对现有研究缺口的识别，提出了各集群未来的研究方向。
{"title":"A Bibliometric Analysis of Research on Big Data and Its Potential to Value Creation and Capture","authors":"Saba Abdian, M. H. Shahri, A. Khadivar","doi":"10.22059/IJMS.2021.319211.674442","DOIUrl":"https://doi.org/10.22059/IJMS.2021.319211.674442","url":null,"abstract":"The emergence of big data is a radical shift in the business context, leading to a change in value creation and capture. This phenomenon is a newborn concept in the business and management literature confirmed by the growing number of publications over recent years. This paper presents an updating comprehensive bibliometric analysis to describe and assess the scientific landscape of value creation and capture based on leveraging big data in the literature. Bibliometrix and VOSviewer were selected as software tools for descriptive and network bibliometric analysis based on the Web of Science Core Collection database from 2011 till 2020. By implementing bibliometric analysis such as analysis of citations and co-occurrence of keywords, we have recognized the most prominent and influential authors, papers, journals, countries, and four potential clusters of current trends in studies. These four trends of value creation and capture from big data studies are: 1) strengthening the basic knowledge of value creation in the big data era, 2) data-driven business model and value capturing, 3) dynamic capabilities and centrality of knowledge, and 4) digital transformation of the service industry. Finally, by identifying the existing research gaps, future research directions in each cluster are demonstrated.","PeriodicalId":51913,"journal":{"name":"Iranian Journal of Management Studies","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2021-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47882405","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 : 2021-10-27DOI: 10.22059/IJMS.2021.325691.674604
Mojtaba Golmohammadi, Fatemeh Zarei, E. Salimi
The main purpose of this study is to test the impact of accounting comparability on stock liquidity and firm value. This study uses panel data analysis to test hypotheses for a sample of 108 firms listed on the Tehran Stock Exchange during 2016-2020. Our empirical results show a positive relationship between accounting comparability with free float ratio and stock turnover ratio. But there is no significant relationship between accounting comparability and the Amihud ratio. The interpretation of this result can be attributed to how the Amihud ratio is calculated. Based on the constraints imposed on the Iranian capital market, the daily return in calculating the Amihud ratio has a certain fluctuation range and is not able to reflect all the dimensions of the market. In addition, our results document a positive relation between accounting comparability and firm value. Finally, accounting comparability does not moderate the association between stock liquidity and firm value. In addition, the cost of capital (CoC) intensifies the relationship between accounting comparability and firm value. We interpret these results as accounting comparability improves transparency, and reduces information asymmetry. These results also show that the capital market is incomplete.
{"title":"Accounting Comparability, Stock Liquidity, and Firm Value.","authors":"Mojtaba Golmohammadi, Fatemeh Zarei, E. Salimi","doi":"10.22059/IJMS.2021.325691.674604","DOIUrl":"https://doi.org/10.22059/IJMS.2021.325691.674604","url":null,"abstract":"The main purpose of this study is to test the impact of accounting comparability on stock liquidity and firm value. This study uses panel data analysis to test hypotheses for a sample of 108 firms listed on the Tehran Stock Exchange during 2016-2020. Our empirical results show a positive relationship between accounting comparability with free float ratio and stock turnover ratio. But there is no significant relationship between accounting comparability and the Amihud ratio. The interpretation of this result can be attributed to how the Amihud ratio is calculated. Based on the constraints imposed on the Iranian capital market, the daily return in calculating the Amihud ratio has a certain fluctuation range and is not able to reflect all the dimensions of the market. In addition, our results document a positive relation between accounting comparability and firm value. Finally, accounting comparability does not moderate the association between stock liquidity and firm value. In addition, the cost of capital (CoC) intensifies the relationship between accounting comparability and firm value. We interpret these results as accounting comparability improves transparency, and reduces information asymmetry. These results also show that the capital market is incomplete.","PeriodicalId":51913,"journal":{"name":"Iranian Journal of Management Studies","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2021-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46131852","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 : 2021-10-25DOI: 10.22059/IJMS.2021.317549.674412
Shiva Savabieh, S. Nayebzadeh, R. Abghari, Seyyed Hassan Hatami Nasab
the aim of the present study was to conduct a comprehensive review of the literature on market orientation and to provide an applied model. Thus, a mixed research method that involved quantitative and qualitative measures was adopted. To this end, a systematic review was carried out on the international articles about market orientation and performance indexed in the Web of Science (WoS)database during 1900-2020. The quality of the articles was assessed by the CASP checklist. Then, to analyze and map the scientific literature in the field of market orientation, theVOSviewer software was used. In the second stage, through the content analysis with the NVIVOsoftware, the key variables and criteria related to market orientation were extracted from the research articles in the field. Accordingly, a model was developed based on the grounded theory approach. Interpretive structural modeling (ISM) was carried out using the MICMAC software to assess the constitutive variables of the model and identify the interrelationship of the variables. Theresults showed that market orientation may be improved in conjunction with learning orientation, entrepreneurship orientation, strategic human resource management, innovation capability, marketing capability, information and communication capability, organizational structure, dynamism of organizational units, total quality management, competitive structure, and business strategy
{"title":"A Comprehensive Review of International Research on Market Orientation and Providing an Applied Model","authors":"Shiva Savabieh, S. Nayebzadeh, R. Abghari, Seyyed Hassan Hatami Nasab","doi":"10.22059/IJMS.2021.317549.674412","DOIUrl":"https://doi.org/10.22059/IJMS.2021.317549.674412","url":null,"abstract":"the aim of the present study was to conduct a comprehensive review of the literature on market orientation and to provide an applied model. Thus, a mixed research method that involved quantitative and qualitative measures was adopted. To this end, a systematic review was carried out on the international articles about market orientation and performance indexed in the Web of Science (WoS)database during 1900-2020. The quality of the articles was assessed by the CASP checklist. Then, to analyze and map the scientific literature in the field of market orientation, theVOSviewer software was used. In the second stage, through the content analysis with the NVIVOsoftware, the key variables and criteria related to market orientation were extracted from the research articles in the field. Accordingly, a model was developed based on the grounded theory approach. Interpretive structural modeling (ISM) was carried out using the MICMAC software to assess the constitutive variables of the model and identify the interrelationship of the variables. Theresults showed that market orientation may be improved in conjunction with learning orientation, entrepreneurship orientation, strategic human resource management, innovation capability, marketing capability, information and communication capability, organizational structure, dynamism of organizational units, total quality management, competitive structure, and business strategy","PeriodicalId":51913,"journal":{"name":"Iranian Journal of Management Studies","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2021-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49621839","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 : 2021-10-25DOI: 10.22059/IJMS.2021.306055.674134
Mehrdad Karimkhani, Kamran Pakizeh, M. R. A. Anvari
Innovation is one of the vital success factors of new SMEs. Venture capital can promote innovation of investee firms. The aim of this paper is identifying and prioritizing factors affecting innovation of investee firms. Initially, by reviewing the literature, 18 factors extracted. Then by statistical analysis six factors with less importance were removed. The 12 factors with more importance advanced to final step, which was Fuzzy DEMATEL to be prioritized. Results demonstrate that the most important factors are respectively: providing valuable information from the industry, cooperation and contact with the industry activists and informing about the possible threats and opportunities. The findings of this paper provide key insight in alternative investment which is a novel area in Iran’s emerging financial markets, in other words, it can support both sides of a venture capital investment process to know which factors are of more importance to boost the possibility of success.
{"title":"Identifying and Prioritizing Factors Affecting Innovation of investee companies from the Perspective of Venture Capitalists: A Case Study","authors":"Mehrdad Karimkhani, Kamran Pakizeh, M. R. A. Anvari","doi":"10.22059/IJMS.2021.306055.674134","DOIUrl":"https://doi.org/10.22059/IJMS.2021.306055.674134","url":null,"abstract":"Innovation is one of the vital success factors of new SMEs. Venture capital can promote innovation of investee firms. The aim of this paper is identifying and prioritizing factors affecting innovation of investee firms. Initially, by reviewing the literature, 18 factors extracted. Then by statistical analysis six factors with less importance were removed. The 12 factors with more importance advanced to final step, which was Fuzzy DEMATEL to be prioritized. Results demonstrate that the most important factors are respectively: providing valuable information from the industry, cooperation and contact with the industry activists and informing about the possible threats and opportunities. The findings of this paper provide key insight in alternative investment which is a novel area in Iran’s emerging financial markets, in other words, it can support both sides of a venture capital investment process to know which factors are of more importance to boost the possibility of success.","PeriodicalId":51913,"journal":{"name":"Iranian Journal of Management Studies","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2021-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44566232","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 : 2021-10-25DOI: 10.22059/IJMS.2021.312151.674267
M. Tohidi
This study aims to evaluate the significance and severity of the relationship between market sentiment and the volatility of the Tehran Stock Exchange price index (TEPIX). We draw on the principal component analysis (PCA) to provide a composite sentiment index using a set of proxies. In addition, ARIMA-E-GARCH hybrid models are applied to model the volatility of the TEPIX and other control variables. Subsequently, GLS regression is used to measure the impact of market sentiment and the control variables variation on the volatility of the TEPIX. The findings showed that the influences of optimistic and pessimistic sentiment on the volatility of TEPIX are both statistically significant and respectively, negative and positive. However, the severity of these negative and positive effects is slight. Furthermore, we found that the stock exchange volatility is highly affected by the volatility of inflation and the liquidity much more than the other variables such as optimistic and pessimistic sentiment.
{"title":"Market Sentiment and Volatility of Stock Market: Evidences from the Tehran Stock Exchange","authors":"M. Tohidi","doi":"10.22059/IJMS.2021.312151.674267","DOIUrl":"https://doi.org/10.22059/IJMS.2021.312151.674267","url":null,"abstract":"This study aims to evaluate the significance and severity of the relationship between market sentiment and the volatility of the Tehran Stock Exchange price index (TEPIX). We draw on the principal component analysis (PCA) to provide a composite sentiment index using a set of proxies. In addition, ARIMA-E-GARCH hybrid models are applied to model the volatility of the TEPIX and other control variables. Subsequently, GLS regression is used to measure the impact of market sentiment and the control variables variation on the volatility of the TEPIX. The findings showed that the influences of optimistic and pessimistic sentiment on the volatility of TEPIX are both statistically significant and respectively, negative and positive. However, the severity of these negative and positive effects is slight. Furthermore, we found that the stock exchange volatility is highly affected by the volatility of inflation and the liquidity much more than the other variables such as optimistic and pessimistic sentiment.","PeriodicalId":51913,"journal":{"name":"Iranian Journal of Management Studies","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2021-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49050963","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 : 2021-10-11DOI: 10.22059/IJMS.2021.328741.674711
M. Akbari, Niloofar Nobari, Hossein Mokhtari, H. Padash, Afsaneh Moradi
Market-orientation capability (MOC) and ambidextrous innovation (AI) as dynamic capabilities have a significant role in the success of SME service innovation. Their co-effect, which has not been studied previously, represents the linking strategy and actions that relate MOC to AI to reconfigure resources based on market insights to balance the exploration-based and exploration-based innovation activities and leads SMEs to seize service innovation opportunities effectively. Thus, this study examined the relationships among these variables and firm performance, considering international environmental hostility (IEH) as a moderator, in a model using data from 154 tourism and travel firms in Iran as an emerging market. The results reveal a significant association between each of MOC and AI with firm performance, in which IEH significantly moderates these relationships. Also, their co-effect negatively influences the firm performance, which indicates a weak relation between MOC and AI in these SMEs. This research suggests that tourism SME managers should deliberately adjust the linking strategy between their MOC and AI to accurately respond to service innovation opportunities and attempt to turn the threats of environmental hostility into opportunities for the sustainability of their firm performance.
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