The main objective of the study is to identify what Malaysian IPO issuers indicate as intended use of IPO proceeds and the use that has the highest amount of allocation. In order to achieve the objective of the study, a manual content analysis of 221 IPO prospectuses issued during the period of 2005-2015 were considered. Based on the manual content analysis, the data were analysed using descriptive statistics and analysis of variance (ANOVA). The results indicate that the three major intended uses of IPO proceeds in Malaysian IPO market are growth opportunities (53.90%), debt repayment (29.12%) and working capital (12.87%). However, growth opportunities and debt repayment have greater amount of allocation than working capital over the sample periods. Additionally results show that Malaysian IPO issuers expend more on capital expenditure and expansion rather than research and development in terms of growth opportunities. Further analysis in terms of the frequencies of number of IPO issuers indicate that number of issuers that have a designated amount for working capital (95%) supersede issuers in the growth opportunities group (90%). These results suggest that issuers can consider intended use of IPO proceeds information as a signal mechanism and potential investors can as well consider the information useful before making their investment decisions.
{"title":"Decomposition of intended use of IPO proceeds: Evidence from Malaysia","authors":"B. Badru","doi":"10.22146/GAMAIJB.34872","DOIUrl":"https://doi.org/10.22146/GAMAIJB.34872","url":null,"abstract":"The main objective of the study is to identify what Malaysian IPO issuers indicate as intended use of IPO proceeds and the use that has the highest amount of allocation. In order to achieve the objective of the study, a manual content analysis of 221 IPO prospectuses issued during the period of 2005-2015 were considered. Based on the manual content analysis, the data were analysed using descriptive statistics and analysis of variance (ANOVA). The results indicate that the three major intended uses of IPO proceeds in Malaysian IPO market are growth opportunities (53.90%), debt repayment (29.12%) and working capital (12.87%). However, growth opportunities and debt repayment have greater amount of allocation than working capital over the sample periods. Additionally results show that Malaysian IPO issuers expend more on capital expenditure and expansion rather than research and development in terms of growth opportunities. Further analysis in terms of the frequencies of number of IPO issuers indicate that number of issuers that have a designated amount for working capital (95%) supersede issuers in the growth opportunities group (90%). These results suggest that issuers can consider intended use of IPO proceeds information as a signal mechanism and potential investors can as well consider the information useful before making their investment decisions.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44830126","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}
This study draws from the contingency theory and the resource-based view to propose that the prospector strategy mediates the link between market orientation and small businesses’ performance. Data were collected from 161 small businesses located in Vietnam and PLS-SEM was used to assess the research’s framework. The results reveal that the prospector strategy fully mediates the link between market orientation and the performance of small businesses located in Vietnam. This study suggests that the owners should follow the prospector strategy when their small businesses follow market-oriented approaches to find the performance implications of their businesses. This study contributes to the strategic management literature by showing that the prospector strategy must be considered when assessing the positive effects of market orientation on performance. This study also overcomes the prior strategic management studies’ limitations relating to the proposals of the analytic framework to assess strategic fits by using the Cartesian contingency framework. Lastly, this study advances our knowledge of the contingency theory in the context of small businesses. The results should be interpreted with due concern for the generalized issues, lack of a pilot test, and low response rate.
{"title":"How market orientation induces small business performance: The role of strategic fits","authors":"Quang-Huy Ngo","doi":"10.22146/GAMAIJB.60623","DOIUrl":"https://doi.org/10.22146/GAMAIJB.60623","url":null,"abstract":"This study draws from the contingency theory and the resource-based view to propose that the prospector strategy mediates the link between market orientation and small businesses’ performance. Data were collected from 161 small businesses located in Vietnam and PLS-SEM was used to assess the research’s framework. The results reveal that the prospector strategy fully mediates the link between market orientation and the performance of small businesses located in Vietnam. This study suggests that the owners should follow the prospector strategy when their small businesses follow market-oriented approaches to find the performance implications of their businesses. This study contributes to the strategic management literature by showing that the prospector strategy must be considered when assessing the positive effects of market orientation on performance. This study also overcomes the prior strategic management studies’ limitations relating to the proposals of the analytic framework to assess strategic fits by using the Cartesian contingency framework. Lastly, this study advances our knowledge of the contingency theory in the context of small businesses. The results should be interpreted with due concern for the generalized issues, lack of a pilot test, and low response rate.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47193314","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}
Sania Noreen, Q. Nisar, Shahbaz Haider, Tan Fee Yean
Everyone has to manage the emotions during their interaction with others; similar case is with the leaders in organizations. Leaders’ actively and continually regulate their emotional state. The crucial role of emotions in interactional process as well in decision making triggers leaders to be vigilant about their emotional labor strategies. Thus emotional labor has become an emerging construct in leadership domain. This study has collected data from 250 doctors working in private and public hospitals in Gujranwala. Findings demonstrated leaders’ deep acting as well as displaying natural emotions are positively associated with job satisfaction and negatively associated with leaders’ emotional exhaustion. Moreover, surface acting has significant positive relationship with leaders’ emotional exhaustion and negative relationship with leaders’ job satisfaction. Psychological capital significantly moderated the relationship between leaders’ emotional labor strategies, leaders’ job satisfaction and leaders’ emotional exhaustion.
{"title":"Role of Leaders’ Emotional Labor toward Leader’s Job Satisfaction and Emotional Exhaustion: Moderating Role of Psychological Capital","authors":"Sania Noreen, Q. Nisar, Shahbaz Haider, Tan Fee Yean","doi":"10.22146/GAMAIJB.53996","DOIUrl":"https://doi.org/10.22146/GAMAIJB.53996","url":null,"abstract":"Everyone has to manage the emotions during their interaction with others; similar case is with the leaders in organizations. Leaders’ actively and continually regulate their emotional state. The crucial role of emotions in interactional process as well in decision making triggers leaders to be vigilant about their emotional labor strategies. Thus emotional labor has become an emerging construct in leadership domain. This study has collected data from 250 doctors working in private and public hospitals in Gujranwala. Findings demonstrated leaders’ deep acting as well as displaying natural emotions are positively associated with job satisfaction and negatively associated with leaders’ emotional exhaustion. Moreover, surface acting has significant positive relationship with leaders’ emotional exhaustion and negative relationship with leaders’ job satisfaction. Psychological capital significantly moderated the relationship between leaders’ emotional labor strategies, leaders’ job satisfaction and leaders’ emotional exhaustion.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-02-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46575228","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}
There are countless studies about the influence of other people’s emotions on individuals' behavior. However, the influence of proponents' and opponents' future emotions on achievement motivation remains unclear. This study aims to fill this gap. Therefore, departing from the emotional intelligence theory, the author materializes the anticipated emotions of other people concept and tests it using a static group experimental design with success and failure scenarios, involving 203 participants chosen judgmentally. When reminded of the proponents' joyfulness caused by their success, the Mann-Whitney U test with normal approximation, supported by the Monte Carlo estimation, shows that the mastery-avoidance, performance-approach, and performance-avoidance goals of the experimental group are enhanced. Whereas, when reminded that they would be envied and make the opponents feel distressed, the performance-approach goals are improved. In the failure scenario, when the participants were directed to the proponents' distress, as a response to their failure, the four components of the achievement goals are increased: mastery-approach, mastery-avoidance, performance-approach, and performance-avoidance. However, the opponents' joyfulness, anticipated as a malicious schadenfreude to the participants' failure, is only successful in stimulating the performance-avoidance goals. A Bayesian estimate with 5,000 times bootstrapping reveals that self-efficacy mediates the influence of the proponents' anticipated joyfulness on the mastery-approach fully, and on the performance-approach goals in a complementary way. Complementary mediation is also apparent in the impact of the proponents' distress on the mastery-approach and mastery-avoidance goals. Above all, love for the proponents is more potent than hatred from social environments for increasing the achievement motivation. Further research is encouraged to replicate this study with different social behavior.
{"title":"How Proponents and Opponents Influence Achievement Motivation: The Role of the Anticipated Emotions of Other People","authors":"Bilson Simamora","doi":"10.22146/GAMAIJB.44042","DOIUrl":"https://doi.org/10.22146/GAMAIJB.44042","url":null,"abstract":"There are countless studies about the influence of other people’s emotions on individuals' behavior. However, the influence of proponents' and opponents' future emotions on achievement motivation remains unclear. This study aims to fill this gap. Therefore, departing from the emotional intelligence theory, the author materializes the anticipated emotions of other people concept and tests it using a static group experimental design with success and failure scenarios, involving 203 participants chosen judgmentally. When reminded of the proponents' joyfulness caused by their success, the Mann-Whitney U test with normal approximation, supported by the Monte Carlo estimation, shows that the mastery-avoidance, performance-approach, and performance-avoidance goals of the experimental group are enhanced. Whereas, when reminded that they would be envied and make the opponents feel distressed, the performance-approach goals are improved. In the failure scenario, when the participants were directed to the proponents' distress, as a response to their failure, the four components of the achievement goals are increased: mastery-approach, mastery-avoidance, performance-approach, and performance-avoidance. However, the opponents' joyfulness, anticipated as a malicious schadenfreude to the participants' failure, is only successful in stimulating the performance-avoidance goals. A Bayesian estimate with 5,000 times bootstrapping reveals that self-efficacy mediates the influence of the proponents' anticipated joyfulness on the mastery-approach fully, and on the performance-approach goals in a complementary way. Complementary mediation is also apparent in the impact of the proponents' distress on the mastery-approach and mastery-avoidance goals. Above all, love for the proponents is more potent than hatred from social environments for increasing the achievement motivation. Further research is encouraged to replicate this study with different social behavior.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2021-02-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42114689","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}
This article aims to assess the solutions that have been implemented in Vietnam to deal with non-performing loan(s) (NPLs) in the banking system. By trying to build evaluation criteria through a literature review and an expert survey, as well as using the analytic hierarchy process (AHP) and technique for order preference by similarity to ideal solution (TOPSIS), this research measures the effectiveness of the resolution of NPLs in Vietnam through many factors. The empirical results show that, in the past, the banking system in Vietnam has not dealt very well with bad debt, as it mostly uses traditional methods such as NPL write-offs by loan loss reserves or the liquidation of collateral. Based on our consideration of the NPLs’ resolutions that the Vietnamese banking system has implemented recently, we propose some suggestions to improve the necessary conditions for applying more market-based solutions, such as debt-equity swaps and securitization to thoroughly resolve the NPLs in Vietnam
{"title":"Dealing With Non-Performing Loans During The Bank Restructuring Process in Vietnam: Assessment Using The AHP and TOPSIS Methods","authors":"A. Tran, N. Nguyen, T. Tran","doi":"10.22146/gamaijb.44453","DOIUrl":"https://doi.org/10.22146/gamaijb.44453","url":null,"abstract":"This article aims to assess the solutions that have been implemented in Vietnam to deal with non-performing loan(s) (NPLs) in the banking system. By trying to build evaluation criteria through a literature review and an expert survey, as well as using the analytic hierarchy process (AHP) and technique for order preference by similarity to ideal solution (TOPSIS), this research measures the effectiveness of the resolution of NPLs in Vietnam through many factors. The empirical results show that, in the past, the banking system in Vietnam has not dealt very well with bad debt, as it mostly uses traditional methods such as NPL write-offs by loan loss reserves or the liquidation of collateral. Based on our consideration of the NPLs’ resolutions that the Vietnamese banking system has implemented recently, we propose some suggestions to improve the necessary conditions for applying more market-based solutions, such as debt-equity swaps and securitization to thoroughly resolve the NPLs in Vietnam","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-12-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42631956","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}
“Fit model” argues that the level of misfit between human resources management (HRM) practices and the type of organizational culture negatively influences organizational performance. However, the lack of emprirical research to support that contention can be problematic. Utilizing the concept of fit, this study aims to examine empirically the effect of the degree of misfit between HRM practices and the types of organizational cultures on organizational performance. Data were collected from a sample comprising of 128 respondents representing 64 companies in Indonesia, from nine industrial sectors. The hypothetical model was developed based on four types of HRM practices (human relations, internal process, rational goals, and open systems) and four types of organizational cultures (clan, hierarchy, market, and adhocracy). Euclidean distance scores were calculated to describe the misfit between the HRM practices and the types of organizational culture variables. Subsequently, the effect of the misfit scores on organizational performance was determined. The results show that the degree of misfit between HRM practices and the type of organizational culture has a significant and negative effect on organizational performance. This empirical research supports the concept of fit, in which the type of organizational culture that is supported by suitable HRM practices will result in a more positive organizational performance. Then, it is deemed necessary for companies to adapt their HRM practices to their culture, in order to improve their performance.
{"title":"The Effect of the Degree of Misfit Between Human Resources Management Practices and the Types of Organizational Culture on Organizational Performance","authors":"Gugup Kismono, Raden Muhammad Pradana Ramadista","doi":"10.22146/gamaijb.56583","DOIUrl":"https://doi.org/10.22146/gamaijb.56583","url":null,"abstract":"“Fit model” argues that the level of misfit between human resources management (HRM) practices and the type of organizational culture negatively influences organizational performance. However, the lack of emprirical research to support that contention can be problematic. Utilizing the concept of fit, this study aims to examine empirically the effect of the degree of misfit between HRM practices and the types of organizational cultures on organizational performance. Data were collected from a sample comprising of 128 respondents representing 64 companies in Indonesia, from nine industrial sectors. The hypothetical model was developed based on four types of HRM practices (human relations, internal process, rational goals, and open systems) and four types of organizational cultures (clan, hierarchy, market, and adhocracy). Euclidean distance scores were calculated to describe the misfit between the HRM practices and the types of organizational culture variables. Subsequently, the effect of the misfit scores on organizational performance was determined. The results show that the degree of misfit between HRM practices and the type of organizational culture has a significant and negative effect on organizational performance. This empirical research supports the concept of fit, in which the type of organizational culture that is supported by suitable HRM practices will result in a more positive organizational performance. Then, it is deemed necessary for companies to adapt their HRM practices to their culture, in order to improve their performance.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-12-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44052556","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}
N. Amiri, Rabiah Eladwiah Abdul Rahim, Gouher Ahmed
Leaders play a critical role in the success or failure of their organizations. Leaders can be effective in implementing changes, building their organization's capabilities, and improving its performance, or the opposite, they could be ineffective. In this systematic review, the authors aim to summarize the findings of previous quantitative research, published between the period from 2000 to 2018, to identify the effect of various leadership styles on organizational Knowledge management (KM) capabilities and activities. The authors reviewed 50 articles found in well-known databases included Emerald, ScienceDirect, Taylor and Francis, Ebsco, Google Scholar, and others, concerning the impact of leadership when implementing KM in business organizations. The review revealed that transformational, transactional, knowledge-oriented leadership, top executives, and strategic leadership have evidence of their constant and positive effect on the KM process. The authors encourage organizations to use a combination of those styles to maximize the effect of leadership on KM. The authors also recommend conducting further studies on the effect of the remaining leadership styles, such as the ethical and servant leadership styles on KM and the other specific KM activities.
{"title":"Leadership Styles and Organizational Knowledge Management Activities: A Systematic Review","authors":"N. Amiri, Rabiah Eladwiah Abdul Rahim, Gouher Ahmed","doi":"10.22146/gamaijb.49903","DOIUrl":"https://doi.org/10.22146/gamaijb.49903","url":null,"abstract":"Leaders play a critical role in the success or failure of their organizations. Leaders can be effective in implementing changes, building their organization's capabilities, and improving its performance, or the opposite, they could be ineffective. In this systematic review, the authors aim to summarize the findings of previous quantitative research, published between the period from 2000 to 2018, to identify the effect of various leadership styles on organizational Knowledge management (KM) capabilities and activities. The authors reviewed 50 articles found in well-known databases included Emerald, ScienceDirect, Taylor and Francis, Ebsco, Google Scholar, and others, concerning the impact of leadership when implementing KM in business organizations. The review revealed that transformational, transactional, knowledge-oriented leadership, top executives, and strategic leadership have evidence of their constant and positive effect on the KM process. The authors encourage organizations to use a combination of those styles to maximize the effect of leadership on KM. The authors also recommend conducting further studies on the effect of the remaining leadership styles, such as the ethical and servant leadership styles on KM and the other specific KM activities.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47175736","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}
Loyalty is an important key performance indicator to assess a business's success, especially in an online business environment with fierce competition. The explosion of social networking sites has created a new form of business: social commerce. Simultaneously, the scale of loyalty in online transactions has some limitations; hence, this research aims to develop and validate an electronic loyalty scale in the context of social commerce. The study used a mixed research method with two phases of a sequential exploratory strategy. Qualitative research generated the scale and was used in the initial filtering to develop an e-loyalty scale for social commerce. This study conducted two quantitative studies with 715 social commerce shoppers in five developed areas in Vietnam: Ho Chi Minh City, Ha Noi City, Hai Phong City, Da Nang City, and Binh Duong Province. Based on our research survey and literature review, the research results showed that electronic loyalty in social commerce is expressed in three dimensions: preference, interaction, and personal information’s disclosure. Then, the research proposed several relevant implications for other researchers and administrators of online businesses.
{"title":"Electronic Loyalty In Social Commerce: Scale Development and Validation","authors":"B. T. Khoa, Ha Nguyen","doi":"10.22146/gamaijb.50683","DOIUrl":"https://doi.org/10.22146/gamaijb.50683","url":null,"abstract":"Loyalty is an important key performance indicator to assess a business's success, especially in an online business environment with fierce competition. The explosion of social networking sites has created a new form of business: social commerce. Simultaneously, the scale of loyalty in online transactions has some limitations; hence, this research aims to develop and validate an electronic loyalty scale in the context of social commerce. The study used a mixed research method with two phases of a sequential exploratory strategy. Qualitative research generated the scale and was used in the initial filtering to develop an e-loyalty scale for social commerce. This study conducted two quantitative studies with 715 social commerce shoppers in five developed areas in Vietnam: Ho Chi Minh City, Ha Noi City, Hai Phong City, Da Nang City, and Binh Duong Province. Based on our research survey and literature review, the research results showed that electronic loyalty in social commerce is expressed in three dimensions: preference, interaction, and personal information’s disclosure. Then, the research proposed several relevant implications for other researchers and administrators of online businesses.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48408045","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}
Ogi Dhaneswari Daraninggar, Serli Wijaya, H. Semuel
The study examined direct and indirect effects of visual merchandising on store patronage in a fast-fashion retail context. Adopting the Stimulus-Organism-Response (S-O-R) theory, this study aimed to investigate the relationships of visual merchandising, self-congruity, consumers’ perceived shopping value in determining store patronage. While studies about fast-fashion and store patronage behaviour have been extensively conducted in various market regions, research in an emerging middle-income country like Indonesia is still in its scarcity. The study is therefore among a few attempts to better understand the Indonesian consumers’ buying behaviour of fast-fashion brands. A survey was completed to 250 fast-fashion store shoppers in Surabaya, the second largest city and well-known shopping tourism destination in Indonesia. Partial Least Squares (PLS) path modelling method was utilised to estimate the proposed structural model. The results revealed that visual merchandising, shopping value, and self-congruity had positive and significant effects on store patronage. The study has also found that the indirect effects of consumers’ perceived shopping value and self-congruity as mediating variables as to how visual merchandising affected store patronage, were stronger than the direct ones. Managerial implications based on the findings and recommendations for further research were described.
{"title":"The Influence of Visual Merchandising on Store Patronage in the Fast-Fashion Stores in Indonesia: The Role of Shopping Value and Self-Congruity","authors":"Ogi Dhaneswari Daraninggar, Serli Wijaya, H. Semuel","doi":"10.22146/gamaijb.56349","DOIUrl":"https://doi.org/10.22146/gamaijb.56349","url":null,"abstract":"The study examined direct and indirect effects of visual merchandising on store patronage in a fast-fashion retail context. Adopting the Stimulus-Organism-Response (S-O-R) theory, this study aimed to investigate the relationships of visual merchandising, self-congruity, consumers’ perceived shopping value in determining store patronage. While studies about fast-fashion and store patronage behaviour have been extensively conducted in various market regions, research in an emerging middle-income country like Indonesia is still in its scarcity. The study is therefore among a few attempts to better understand the Indonesian consumers’ buying behaviour of fast-fashion brands. A survey was completed to 250 fast-fashion store shoppers in Surabaya, the second largest city and well-known shopping tourism destination in Indonesia. Partial Least Squares (PLS) path modelling method was utilised to estimate the proposed structural model. The results revealed that visual merchandising, shopping value, and self-congruity had positive and significant effects on store patronage. The study has also found that the indirect effects of consumers’ perceived shopping value and self-congruity as mediating variables as to how visual merchandising affected store patronage, were stronger than the direct ones. Managerial implications based on the findings and recommendations for further research were described.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48481306","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}
Past studies on CEO hubris has found that board vigilance is effective in managing the negative outcome of hubris. Some studies found CEO non-duality and independent director representation are effective in decreasing the damage of hubris. However, these studies have only explored the causal relationship of hubris and firm performance in the one-tier corporate governance setting. This study analyzed the influence of CEO hubris on firm performance in Indonesia by taking into account the CEO-board power dynamics. Indonesia adopts the two-tier corporate system where the board is divided into the board of directors and commissioners. Through 99 public listed companies, this study found that hubris in Indonesian CEOs contributes well to firm performance. Moreover, a bigger commissioner board is effective in strengthening the positive influence of hubris on firm performance in Indonesia. Furthermore, this study hints that two-tier corporate governance is more efficient in controlling hubris than the one-tier system.
{"title":"The Influence of CEO Hubris on Firm Performance in Indonesia: The Moderating Effects of CEO Power and Board Vigilance","authors":"Noni Ayu Rizka, T. H. Handoko","doi":"10.22146/GAMAIJB.55239","DOIUrl":"https://doi.org/10.22146/GAMAIJB.55239","url":null,"abstract":"Past studies on CEO hubris has found that board vigilance is effective in managing the negative outcome of hubris. Some studies found CEO non-duality and independent director representation are effective in decreasing the damage of hubris. However, these studies have only explored the causal relationship of hubris and firm performance in the one-tier corporate governance setting. This study analyzed the influence of CEO hubris on firm performance in Indonesia by taking into account the CEO-board power dynamics. Indonesia adopts the two-tier corporate system where the board is divided into the board of directors and commissioners. Through 99 public listed companies, this study found that hubris in Indonesian CEOs contributes well to firm performance. Moreover, a bigger commissioner board is effective in strengthening the positive influence of hubris on firm performance in Indonesia. Furthermore, this study hints that two-tier corporate governance is more efficient in controlling hubris than the one-tier system.","PeriodicalId":54086,"journal":{"name":"Gadjah Mada international journal of business","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2020-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43077327","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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