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Article
Publication date: 27 January 2022

Manish Gupta, Weiguo Fan and Aviral Kumar Tiwari

706

Abstract

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Management Decision, vol. 60 no. 2
Type: Research Article
ISSN: 0025-1747

Article
Publication date: 28 September 2020

Satish Kumar, Riza Demirer and Aviral Kumar Tiwari

This study aims to explore the oil–stock market nexus from a novel angle by examining the predictive role of oil prices over the excess returns associated with the market…

Abstract

Purpose

This study aims to explore the oil–stock market nexus from a novel angle by examining the predictive role of oil prices over the excess returns associated with the market, size, book-to-market and momentum factors via bivariate cross-quantilograms.

Design/methodology/approach

This study makes use of the bivariate cross-quantilogram methodology recently developed by Han et al. (2016) to analyze the predictability patterns across the oil and stock markets by focusing on various quantiles that formally distinguish between normal, bull and bear as well as extreme market states.

Findings

The study analysis of systematic risk premia across the four regions shows that crude oil returns indeed capture predictive information regarding excess factor returns in stock markets, particularly those associated with market, size and momentum factors. However, the predictive power of oil return over excess factor returns is asymmetric and primarily concentrated on extreme quantiles, suggesting that large fluctuations in oil prices capture markedly different predictive information over stock market risk premia during up and down states of the oil market.

Practical implications

The findings have significant implications for the profitability of factor- or style-based active portfolio strategies and suggest that the predictive information contained in oil market fluctuations could be used to enhance returns via conditional strategies based on these predictability patterns.

Originality/value

This study contributes to the vast literature on the oil–stock market nexus from a novel perspective by exploring the effect of oil price fluctuations on the risk premia associated with the systematic risk factors including market, size, value and momentum.

Details

Studies in Economics and Finance, vol. 37 no. 4
Type: Research Article
ISSN: 1086-7376

Keywords

Content available

Abstract

Details

International Journal of Managerial Finance, vol. 18 no. 4
Type: Research Article
ISSN: 1743-9132

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Article
Publication date: 22 May 2020

Rajesh Pathak, Ranjan Das Gupta, Cleiton Guollo Taufemback and Aviral Kumar Tiwari

This paper aims to examine the weak form of efficiency for price series of four precious metals, i.e. gold, silver, platinum and palladium, using a generalized spectral method.

Abstract

Purpose

This paper aims to examine the weak form of efficiency for price series of four precious metals, i.e. gold, silver, platinum and palladium, using a generalized spectral method.

Design/methodology/approach

The method has the advantage of detecting both linear and non-linear serial dependence in the conditional mean, and it is robust to various forms of conditional heteroscedasticity. The authors use three different rolling windows for the purpose of robustness.

Findings

The authors report weak form of efficiency across metals series for almost all rolling windows. The optimum efficiency for Gold and Palladium is achieved through 250 days rolling window estimates whereas it is 500 days rolling window for silver. Platinum has similar efficiency levels across rolling windows. The degree of efficiency for metal prices is observed to be varying over time with silver market possessing highest levels of efficiency. The efficiency synchronization also varies across rolling windows and metals.

Research limitations/implications

The results reveal that metal markets are efficient for most times implying the low predictability and the low likelihood of earning abnormal returns by speculating in these markets.

Originality/value

The study uses a relatively new statistical technique, the generalized spectral test, to capture linear and non-linear serial dependence. Therefore, the results possess adequate power against departure from market efficiency.

Details

Studies in Economics and Finance, vol. 37 no. 2
Type: Research Article
ISSN: 1086-7376

Keywords

Article
Publication date: 4 May 2021

Amit Shankar, Aviral Kumar Tiwari and Manish Gupta

This study aims at identifying critical success factors of a sustainable mobile banking application using text mining approach.

Abstract

Purpose

This study aims at identifying critical success factors of a sustainable mobile banking application using text mining approach.

Design/methodology/approach

A total of 6,073 consumer reviews relating to a mobile banking application were collected and analyzed to meet the study objective. Latent Semantic Analysis (LSA) was done to identify the critical success factors of a sustainable mobile banking application.

Findings

The results indicated that privacy and security, navigation, customer support, convenience and efficiency are the key factors.

Research limitations/implications

The study findings enrich the mobile banking and sustainable service delivery channel literature.

Practical implications

The results are expected to benefit the bankers in delivering effective banking services through a mobile banking application.

Originality/value

Studies in the sustainability are few yet promising particularly the ones that use rigorous statistics suitable on thousands of data points to accomplish the study objectives.

Details

Journal of Enterprise Information Management, vol. 35 no. 2
Type: Research Article
ISSN: 1741-0398

Keywords

Article
Publication date: 19 March 2021

Rabeh Khalfaoui, Aviral Kumar Tiwari, Faisal Alqahtani, Shawkat Hammoudeh and Suleman Sarwar

This study aims to investigate the dynamic co-movement and interconnection among 69 security investment indices in China using the multi-time scale framework.

Abstract

Purpose

This study aims to investigate the dynamic co-movement and interconnection among 69 security investment indices in China using the multi-time scale framework.

Design/methodology/approach

The authors first use the multiple coherence analysis method to exhibit the degree of relationships among the variables under study. In addition, the wavelet multiple correlation and wavelet multiple cross-correlation analyses are used to examine the time-frequency synchronization interdependence structure among the variables.

Findings

From the empirical findings, one may infer less opportunity for portfolio diversification at higher time scales. Obviously, at these scales, the authors find that the 69 Chinese investment indices generate a simple security investment class, as indicated by higher interconnection between the indices.

Research limitations/implications

Further research can increase the sample size to re-investigate the empirical relationship for security investment indices.

Practical implications

In the nutshell, the results demonstrate the potential for Chinese investors to invest in security investment indices to earn from portfolio diversification at lower time frequencies. The Chinese investment market indices under study yield further opportunities of portfolio diversification toward the short-term investors than the long-term investors.

Originality/value

To the best of the authors’ knowledge, this is the first paper to examine the dynamic co-movement and interconnection for security investment indices in China.

Details

International Journal of Housing Markets and Analysis, vol. 14 no. 5
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 18 August 2022

Pradeep Rathore, Esha Saha, Sayan Chakraborty and Aviral Kumar Tiwari

This study aims to examine the relationship between the perception of consumers about corporate social responsibility (CSR) and consumers’ purchasing behaviour in the…

Abstract

Purpose

This study aims to examine the relationship between the perception of consumers about corporate social responsibility (CSR) and consumers’ purchasing behaviour in the retail sector. Specifically, this study investigates the impact of perceived CSR on consumer attitude and behaviour and the influence of attitude on the relationship between perceived CSR and purchase behaviour.

Design/methodology/approach

In this study for collection of the data, an online questionnaire was distributed among the Indian retail consumers. From the collected primary data set, 249 data points were found fit for analysis. Further, the direct, indirect and moderating effects were evaluated using the structural equation modelling technique.

Findings

It is identified that while perceived CSR has a significant influence on consumer purchase behaviour, consumer attitude is having an insignificant impact on the relationship between perceived CSR and purchase behaviour. The findings of this study also show that consumer demographics do not have any moderating impact on the relationship between perceived CSR and purchase behaviour.

Research limitations/implications

The findings of this study are useful to retail managers interested in enhancing CSR. The results of this study suggest that retailers should focus on strengthening consumers’ perceptions about retailers’ CSR initiatives and enhancing co-creation activities. As an extension to this research, further study can include more potential mediators like consumer effectiveness and timing of CSR initiatives.

Originality/value

This study applies stakeholder theory as well as extends the classic theory of planned behaviour model and proposes the establishment of links among consumers’ perceptions about CSR, consumer attitude and behaviour around the retail sector. In addition, this study considers not only overall consumer behaviour but also specific dimensions of consumer behaviour, namely, loyalty, intention and satisfaction.

Details

Society and Business Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-5680

Keywords

Article
Publication date: 4 April 2022

Riidhi Jain, Dipasha Sharma, Abhishek Behl and Aviral Kumar Tiwari

The purpose of this study is to examine the role of personality traits (PTs) of individual investors on their investment intention (II). Further, to study the mediating…

Abstract

Purpose

The purpose of this study is to examine the role of personality traits (PTs) of individual investors on their investment intention (II). Further, to study the mediating role of overconfidence (OC) bias and financial literacy (FL) on the relationship between PTs and II.

Design/methodology/approach

The present study uses the quantitative approach for the data collection from the sample of 327 Indian investors investing in the stock market. The questionnaire was divided into segments to assess the investor’s PTs, OC, FL and II. The PT has been measured using the Big Five Personality Traits. Confirmatory factor analysis was used to test the reliability and validity of the constructs. The hypothesis was tested using structural equation modeling.

Findings

Findings of the study show that the PTs of an individual investor are associated with FL and II but insignificant with OC bias. Further, the FL and OC bias have a positive and significant influence on II. In addition, the mediation analysis showed that FL partly mediates the relationship between PTs and II.

Practical implications

The present study is helpful for financial companies, government, personal finance advisors and individual investors; they can keep in mind the behavior-related traits that can influence the investment decisions and design the portfolio accordingly. The policy-makers can implement programs on FL to enhance investment decisions in India.

Originality/value

This paper is unique that covers the mediating role of psychological bias, i.e. OC bias and FL, between the PTs and II of an Indian investor.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 30 November 2021

Thanh Tiep Le, Aviral Kumar Tiwari, Abhishek Behl and Vijay Pereira

This study aims to evaluate the impact of perceived cause- related marketing (perceived-CRM) on the repurchase intention (CRIN). Besides, brand image (BIMA) and customer…

Abstract

Purpose

This study aims to evaluate the impact of perceived cause- related marketing (perceived-CRM) on the repurchase intention (CRIN). Besides, brand image (BIMA) and customer satisfaction (CSAT) connect this relationship as mediating variables. Especially, the role of perceived corporate social responsibility (perceived-CSR) contributed to this nexus between perceived-CRM and BIMA, perceived-CRM and CSAT in emerging economies.

Design/methodology/approach

The paper follows a quantitative approach. Based on a comprehensive literature review on perceived-CSR, perceived-CRM , BIMA, CSAT and repurchase intention, the authors evaluate the impact of those constructs on repurchase intention in an emerging market. The study sample was composed of 395 responses covering customers of consumer goods. The study uses the Smart PLS-SEM version 3.3.2 to analyze the data.

Findings

The findings revealed significant contributions to the extant CRM literature in some ways. This study's outcomes contribute to extending the existing literature on CRM and CSR. Specifically, the extension focuses on the mediating and moderating effects of BIMA, CSAT and perceived-CSR, respectively, in the relationship between perceived-CRM and CRIN. Moreover, the novelty of this study lies in providing a new approach to the influence of perceived-CRM on CRIN, with the mediating of BIMA, CSAT and moderating effects perceived-CSR integrated into a conceptual model.

Practical implications

From a management perspective, the contribution of this study plays a very important role in strategic planning to enhance competitive advantage and improve business performance on a sustainable basis. This sustainability is founded on an insight into how changes in contextual factors affect the perception and consumer behavior of millennials in fast-moving consumer goods (FMCG) market, especially in a context of Covid-19 global crisis. It is important to emphasize that genuineness and transparency in all activities and communications are a prerequisite in today's sensitive context. The application of acquired insight into practice will help businesses operating in the consumer sector improve brand reputation and CSAT. As a result, this leads to enhanced competitive advantage of the business in the market, improved market performance and ultimately to an improvement in the overall performance of the enterprise.

Originality/value

This is the first study that explores the moderating role of perceived CSR on the nexus between perceived-CRM with brand image (BIMA) and CSAT to the best of our knowledge. Besides, the study also discovers the mediating role of BIMA and CSAT between perceived-CRM and repurchase-intention in an emerging economy. Findings in this study provided additional evidence to the increasingly important roles of perceived-CRM and perceived-CSR in creating win-win relationships with customers, aiming to solve specific social causes jointly. Further, the perceived-CRM and perceived-CSR mechanisms help businesses enhance their intangible assets and competitive advantages through enhanced BIMA and stronger CRIN. In the current context, the business environment is changing rapidly due to many factors that lead to increased competition at a global level. Therefore, improving competitive advantage is a mandatory condition for businesses to survive and develop sustainably.

Details

Management Decision, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 11 June 2018

Subhendu Datta, Aviral Kumar Tiwari and C.S. Shylajan

According to the 70th round of the National Sample Survey published by the Government of India in 2014, the incidence of indebtedness among households in the rural areas…

Abstract

Purpose

According to the 70th round of the National Sample Survey published by the Government of India in 2014, the incidence of indebtedness among households in the rural areas of Telangana state, India, is twice that of rural all-India. Around 59 per cent of rural households are indebted in Telangana as against 31 per cent all-India. The purpose of this paper is to examine the extent and magnitude of indebtedness among rural households in the Medak district of Telangana state. Further, the authors wanted to identify the sources of credit to these households and for what purpose the loans were utilised.

Design/methodology/approach

To achieve the objective, the authors conducted a primary-level household survey in one of the distressed districts in newly formed state. The authors applied the Bayesian and the Lasso regression methods to identify the factors that impact indebtedness of a household.

Findings

The OLS results based on the Lasso regression results show that among all the explanatory variables, principal occupation, use of modern technology, the rate of interest, household medical expenditure and source of loan are significant, indicating that these variables significantly affect the loan taken by the farmers in the study area. The study shows that alternative sources of non-farm income and promotion of modern technology in agriculture can reduce the incidence of farmers’ indebtedness in India.

Originality/value

The paper contains significant information with regard to indebtedness. It focusses on the issue troubling the authorities the most. It provides the ground realities of the incidence of indebtedness in Medak, one of the most distressed districts of Telangana, a Southern Indian state. There have been very few similar studies done in the newly formed state. The paper has employed an advanced statistical technique, i.e. Heckman’s selection regression technique, to study farmers’ indebtedness in India. It provides a means of correcting for non-randomly selected samples, which otherwise can lead to erroneous conclusions and poor policy.

Details

International Journal of Social Economics, vol. 45 no. 6
Type: Research Article
ISSN: 0306-8293

Keywords

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