Pub Date : 2022-12-13DOI: 10.1108/sajbs-02-2021-0059
Affaf Asghar Butt, S. S. Rizavi, M. Nazir, A. Shahzad
PurposeThis study aims to examine the effect of corporate derivatives use on firm value and how the corporate governance index modifies this relationship.Design/methodology/approachThe sample consists of 219 nonfinancial firms on the Pakistan Stock Exchange (PSX) from 2011 to 2019. The study used ordinary least square regression with year and industry dummies for estimations. Multiple estimation models such as fixed/random effect, Fama–MacBeth and two-stage least squares (2SLS) are used for robustness. Finally, the PROCESS macro tool is used to estimate the effect of moderating the role of corporate governance (CG) as robustness.FindingsThe findings show that derivatives use has an inverse influence on firm value. The firms did not use derivatives as a risk management tool but for speculation motives. However, the corporate governance index significantly weakens this relationship. However, strong governance forces the managers to use derivatives for hedging purposes. The firm-specific factors, including size, age, leverage, cash, financial distress cost, dividend and growth opportunities, also significantly influence firm value. The findings are robust to the other estimation models.Research limitations/implicationsThe findings indicate that emerging economies like Pakistan are more prone to agency problems. The strong corporate governance structure helps firms turn the speculative motive of derivatives use into hedging purposes and mitigate the agency issues.Practical implicationsThis empirical evidence suggests that good governance structures can help improve the impact of derivative usage on firm value.Originality/valueTo the best of the author's knowledge, this is the first study that examines the conditional role of corporate governance on the derivatives–value relationship from the viewpoint of agency problem/speculative motive.
{"title":"Corporate derivatives use and firm value: conditional role of corporate governance","authors":"Affaf Asghar Butt, S. S. Rizavi, M. Nazir, A. Shahzad","doi":"10.1108/sajbs-02-2021-0059","DOIUrl":"https://doi.org/10.1108/sajbs-02-2021-0059","url":null,"abstract":"PurposeThis study aims to examine the effect of corporate derivatives use on firm value and how the corporate governance index modifies this relationship.Design/methodology/approachThe sample consists of 219 nonfinancial firms on the Pakistan Stock Exchange (PSX) from 2011 to 2019. The study used ordinary least square regression with year and industry dummies for estimations. Multiple estimation models such as fixed/random effect, Fama–MacBeth and two-stage least squares (2SLS) are used for robustness. Finally, the PROCESS macro tool is used to estimate the effect of moderating the role of corporate governance (CG) as robustness.FindingsThe findings show that derivatives use has an inverse influence on firm value. The firms did not use derivatives as a risk management tool but for speculation motives. However, the corporate governance index significantly weakens this relationship. However, strong governance forces the managers to use derivatives for hedging purposes. The firm-specific factors, including size, age, leverage, cash, financial distress cost, dividend and growth opportunities, also significantly influence firm value. The findings are robust to the other estimation models.Research limitations/implicationsThe findings indicate that emerging economies like Pakistan are more prone to agency problems. The strong corporate governance structure helps firms turn the speculative motive of derivatives use into hedging purposes and mitigate the agency issues.Practical implicationsThis empirical evidence suggests that good governance structures can help improve the impact of derivative usage on firm value.Originality/valueTo the best of the author's knowledge, this is the first study that examines the conditional role of corporate governance on the derivatives–value relationship from the viewpoint of agency problem/speculative motive.","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":" ","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46213235","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-13DOI: 10.1108/sajbs-07-2021-0259
Kaushik Samaddar, A. Gandhi
PurposeThe study explores and builds theories in Customer Perceived Values (CPVs) that drive counterfeit buying intention, using a Grounded Theory Approach (GTA) in an emerging market, India.Design/methodology/approachCounterfeit studies have either resorted to a survey approach or modelling approach in investigating various aspects and dimensions. This study, among a few, attempted a GTA in building theory on CPVs. Based on the observations and recorded responses that emerged through several Focus Group Discussions (FGDs); conducted in two metropolitan cities (India), newer insights into this illicit phenomenon of “Counterfeiting” were derived.FindingsAdding to the counterfeit literature, the study presents a comprehensive view of the CPVs. Findings reveal economic, socio-normative, pleasure-based, euphemistic, acquisition-centrality, self-regulating, situational and sustainable consumption values that influence counterfeit attitudes and in turn impact counterfeit buying intentions. Although Economic Values (ECV) have been the primary motivation for counterfeit purchase, complex and newer values that emerged through this research study bears significance.Practical implicationsAs a single point of reference, this study will provide impetus to scholars and academicians in expanding the counterfeit research domain. While aiding policymakers and marketers in further understanding this illicit practice, it will also guide brand managers in strategizing their offerings and reaching out to the masses with strong brand aesthetic values.Originality/valueBased on a systematic literature review using the 4 Ws framework, this study is one of the few attempts that has adopted a GTA to explore and develop theories on CPVs in counterfeit research.
{"title":"Exploring Customer Perceived Value towards non-deceptive counterfeiting: a grounded theory approach","authors":"Kaushik Samaddar, A. Gandhi","doi":"10.1108/sajbs-07-2021-0259","DOIUrl":"https://doi.org/10.1108/sajbs-07-2021-0259","url":null,"abstract":"PurposeThe study explores and builds theories in Customer Perceived Values (CPVs) that drive counterfeit buying intention, using a Grounded Theory Approach (GTA) in an emerging market, India.Design/methodology/approachCounterfeit studies have either resorted to a survey approach or modelling approach in investigating various aspects and dimensions. This study, among a few, attempted a GTA in building theory on CPVs. Based on the observations and recorded responses that emerged through several Focus Group Discussions (FGDs); conducted in two metropolitan cities (India), newer insights into this illicit phenomenon of “Counterfeiting” were derived.FindingsAdding to the counterfeit literature, the study presents a comprehensive view of the CPVs. Findings reveal economic, socio-normative, pleasure-based, euphemistic, acquisition-centrality, self-regulating, situational and sustainable consumption values that influence counterfeit attitudes and in turn impact counterfeit buying intentions. Although Economic Values (ECV) have been the primary motivation for counterfeit purchase, complex and newer values that emerged through this research study bears significance.Practical implicationsAs a single point of reference, this study will provide impetus to scholars and academicians in expanding the counterfeit research domain. While aiding policymakers and marketers in further understanding this illicit practice, it will also guide brand managers in strategizing their offerings and reaching out to the masses with strong brand aesthetic values.Originality/valueBased on a systematic literature review using the 4 Ws framework, this study is one of the few attempts that has adopted a GTA to explore and develop theories on CPVs in counterfeit research.","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":" ","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45576782","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.58753/jbspust.03.01.2022.02
Marzia Khanam, Md. Abir Hossain
Purpose: The purpose of this study is to investigate the effect of celebrity endorsement components (expertise, attractiveness, and trustworthiness) on brand attitude, brand loyalty, and purchase intention. This study looks at the elements of celebrity endorsements that influence young consumers' purchasing preferences in the Barishal region of Bangladesh. Methodology: The study model incorporates constructs from earlier literature that have been proven to have substantial relations with purchasing intention. A self-administered questionnaire has been used through an online survey to collect 205 data from young people aged 20 to 24. Additionally, SPSS has been used to analyze the data. Findings: The study demonstrates that celebrity expertise and trustworthiness significantly influence brand attitudes and brand loyalty. However, celebrity attractiveness is not much impacted by brand attitudes and brand loyalty. The study also demonstrates that brand loyalty is the most substantial influence on purchase intention. Practical Implications: The findings of this study will help producers, marketers, merchants, and advertisers figure out what traits of a celebrity contribute to a favorable brand attitude, brand loyalty, and buy intention. Originality: This paper empirically examines how different variables affect celebrity endorsement’s influence on the buying behaviour of consumers’ decisions of young customers. Research Limitations: In this study, the respondents are young, so the findings may not be applicable on a general basis.
{"title":"The Effect of Celebrity Endorsement on Young Consumer Purchase Intention in Bangladesh: An Empirical Study","authors":"Marzia Khanam, Md. Abir Hossain","doi":"10.58753/jbspust.03.01.2022.02","DOIUrl":"https://doi.org/10.58753/jbspust.03.01.2022.02","url":null,"abstract":"Purpose: The purpose of this study is to investigate the effect of celebrity endorsement components (expertise, attractiveness, and trustworthiness) on brand attitude, brand loyalty, and purchase intention. This study looks at the elements of celebrity endorsements that influence young consumers' purchasing preferences in the Barishal region of Bangladesh. Methodology: The study model incorporates constructs from earlier literature that have been proven to have substantial relations with purchasing intention. A self-administered questionnaire has been used through an online survey to collect 205 data from young people aged 20 to 24. Additionally, SPSS has been used to analyze the data. Findings: The study demonstrates that celebrity expertise and trustworthiness significantly influence brand attitudes and brand loyalty. However, celebrity attractiveness is not much impacted by brand attitudes and brand loyalty. The study also demonstrates that brand loyalty is the most substantial influence on purchase intention. Practical Implications: The findings of this study will help producers, marketers, merchants, and advertisers figure out what traits of a celebrity contribute to a favorable brand attitude, brand loyalty, and buy intention. Originality: This paper empirically examines how different variables affect celebrity endorsement’s influence on the buying behaviour of consumers’ decisions of young customers. Research Limitations: In this study, the respondents are young, so the findings may not be applicable on a general basis.","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":"10 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87341281","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-29DOI: 10.1108/sajbs-03-2021-0088
K.V. Ansab, S. P. Kumar
PurposeElectric cars have very little market share in developing countries despite their environmental benefits. Thus, governments have started promoting electric cars by providing financial incentives to consumers. The current article aims to examine the direct and indirect effects of government financial incentives on consumer electric car adoption in India.Design/methodology/approachThe study followed a quantitative research method that employed a self-administered survey questionnaire. Structural Equation Modelling and Multi-Group Analysis were followed for data analysis.FindingsThe study revealed that financial incentives have an indirect effect on electric car adoption intention rather than a direct effect. In addition, financial incentives were found to have a direct effect on attitude and Perceived Behavioural Control (PBC). Attitude and PBC positively influenced consumer adoption intention.Practical implicationsThe insights and implications from the present study would help policymakers and marketers to formulate better incentive policies and market strategies to increase consumer acceptance of electric cars in developing countries.Originality/valueThe study contributes to the literature by analysing the underlying mechanism that links government financial incentives to electric car adoption intention. This study also explored the direct effect of financial incentives on attitude and PBC, which are less investigated in electric vehicle literature. In addition, the present article also assessed the moderating role of age in electric car adoption, which has mixed evidence in the literature, and such studies are scarce in the Indian context.
{"title":"Influence of government financial incentives on electric car adoption: empirical evidence from India","authors":"K.V. Ansab, S. P. Kumar","doi":"10.1108/sajbs-03-2021-0088","DOIUrl":"https://doi.org/10.1108/sajbs-03-2021-0088","url":null,"abstract":"PurposeElectric cars have very little market share in developing countries despite their environmental benefits. Thus, governments have started promoting electric cars by providing financial incentives to consumers. The current article aims to examine the direct and indirect effects of government financial incentives on consumer electric car adoption in India.Design/methodology/approachThe study followed a quantitative research method that employed a self-administered survey questionnaire. Structural Equation Modelling and Multi-Group Analysis were followed for data analysis.FindingsThe study revealed that financial incentives have an indirect effect on electric car adoption intention rather than a direct effect. In addition, financial incentives were found to have a direct effect on attitude and Perceived Behavioural Control (PBC). Attitude and PBC positively influenced consumer adoption intention.Practical implicationsThe insights and implications from the present study would help policymakers and marketers to formulate better incentive policies and market strategies to increase consumer acceptance of electric cars in developing countries.Originality/valueThe study contributes to the literature by analysing the underlying mechanism that links government financial incentives to electric car adoption intention. This study also explored the direct effect of financial incentives on attitude and PBC, which are less investigated in electric vehicle literature. In addition, the present article also assessed the moderating role of age in electric car adoption, which has mixed evidence in the literature, and such studies are scarce in the Indian context.","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":" ","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-11-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45359543","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 research aimed to investigate absorptive capacity's (AC) mediating effect among four important organizational factors, namely transformational leadership (TL), innovative culture (IC), organizational structure (OS), organizational climate (OC)) and competitive advantage (CA).
Design/methodology/approach
A survey method was used for data collection and 107 valid responses were received from managers and top executives of different hotels operating in Pakistan. Statistical Package for the Social Sciences (SPSS) and Partial Least Squares-Structural Equation Modelling (PLS-SEM) statistical techniques were used to analyze the data and test the hypotheses.
Findings
The findings infer that OC positively affects CA by improving AC in an organization. Furthermore, AC was found as a partial mediator for the relationship among TL and CA as well as for the relationship among IC and CA.
Originality/value
Despite the abundance of research on AC, the empirical studies regarding Ac's mediating effect among various organizational factors and CA are limited. Therefore, this paper makes a noteworthy contribution to the body of knowledge by testing the mediating effect of AC among various organizational factors and CA with reference to hospitality sector in Pakistan.
{"title":"Impact of organizational climate, culture, leadership and structure on competitive advantage: mediating effect of absorptive capacity","authors":"Khawaja Khalid Mehmood, Mehreen Mushtaq, Jalal Rajeh Hanaysha","doi":"10.1108/sajbs-06-2021-0229","DOIUrl":"https://doi.org/10.1108/sajbs-06-2021-0229","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This research aimed to investigate absorptive capacity's (AC) mediating effect among four important organizational factors, namely transformational leadership (TL), innovative culture (IC), organizational structure (OS), organizational climate (OC)) and competitive advantage (CA).</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>A survey method was used for data collection and 107 valid responses were received from managers and top executives of different hotels operating in Pakistan. Statistical Package for the Social Sciences (SPSS) and Partial Least Squares-Structural Equation Modelling (PLS-SEM) statistical techniques were used to analyze the data and test the hypotheses.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The findings infer that OC positively affects CA by improving AC in an organization. Furthermore, AC was found as a partial mediator for the relationship among TL and CA as well as for the relationship among IC and CA.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>Despite the abundance of research on AC, the empirical studies regarding Ac's mediating effect among various organizational factors and CA are limited. Therefore, this paper makes a noteworthy contribution to the body of knowledge by testing the mediating effect of AC among various organizational factors and CA with reference to hospitality sector in Pakistan.</p><!--/ Abstract__block -->","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":"6 2","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-11-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138509555","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}
{"title":"Strategic leadership exercised by the defence forces of Sri Lanka during the COVID-19 outbreak","authors":"Thesara V. P. Jayawardane","doi":"10.4038/jbs.v8i1.74","DOIUrl":"https://doi.org/10.4038/jbs.v8i1.74","url":null,"abstract":"","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":"93 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-09-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85272798","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}
{"title":"Identifying the factors affecting the effectiveness of ‘work from home’ among middle-level management","authors":"T. Thirimanna, U. M. Devadas","doi":"10.4038/jbs.v8i1.72","DOIUrl":"https://doi.org/10.4038/jbs.v8i1.72","url":null,"abstract":"","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":"34 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-09-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82712248","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}
Sutharsini Jesuthasan, N. Umakanth, S. Dineshkumar
{"title":"Role of knowledge sharing and learning process of students","authors":"Sutharsini Jesuthasan, N. Umakanth, S. Dineshkumar","doi":"10.4038/jbs.v8i1.76","DOIUrl":"https://doi.org/10.4038/jbs.v8i1.76","url":null,"abstract":"","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":"38 6 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-09-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76062929","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}
{"title":"Bridging intellectual capital and knowledge management through knowledge: a review","authors":"W. Wanigasekara, S. Weligamage, W. Karunarathne","doi":"10.4038/jbs.v8i1.78","DOIUrl":"https://doi.org/10.4038/jbs.v8i1.78","url":null,"abstract":"","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":"1 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-09-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83159242","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}
{"title":"Does premium price mediate the consumer awareness and green purchase intention? A consumer study based on organic food, Western Province - Sri Lanka","authors":"I. V. M. N. Premadasa, P. Fernando","doi":"10.4038/jbs.v8i1.75","DOIUrl":"https://doi.org/10.4038/jbs.v8i1.75","url":null,"abstract":"","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":"42 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-09-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88835042","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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