Search results
1 – 10 of 145Miklesh Prasad Yadav, Shruti Ashok, Farhad Taghizadeh-Hesary, Deepika Dhingra, Nandita Mishra and Nidhi Malhotra
This paper aims to examine the comovement among green bonds, energy commodities and stock market to determine the advantages of adding green bonds to a diversified portfolio.
Abstract
Purpose
This paper aims to examine the comovement among green bonds, energy commodities and stock market to determine the advantages of adding green bonds to a diversified portfolio.
Design/methodology/approach
Generic 1 Natural Gas and Energy Select SPDR Fund are used as proxies to measure energy commodities, bonds index of S&P Dow Jones and Bloomberg Barclays MSCI are used to represent green bonds and the New York Stock Exchange is considered to measure the stock market. Granger causality test, wavelet analysis and network analysis are applied to daily price for the select markets from August 26, 2014, to March 30, 2021.
Findings
Results from the Granger causality test indicate no causality between any pair of variables, while cross wavelet transform and wavelet coherence analysis confirm strong coherence at a high scale during the pandemic, validating comovement among the three asset classes. In addition, network analysis further corroborates this connectedness, implying a strong association of the stock market with the energy commodity market.
Originality/value
This study offers new evidence of the temporal association among the US stock market, energy commodities and green bonds during the COVID-19 crisis. It presents a novel approach that measures and evaluates comovement among the constituent series, simultaneously using both wavelet and network analysis.
Details
Keywords
Yu Hu, Xiaoquan Jiang and Wenjun Xue
This paper investigates the relationship between institutional ownership and idiosyncratic volatility in Chinese and the USA stock markets and explores the potential explanations.
Abstract
Purpose
This paper investigates the relationship between institutional ownership and idiosyncratic volatility in Chinese and the USA stock markets and explores the potential explanations.
Design/methodology/approach
In this paper, the authors use the panel data regressions and the dynamic tests of two-way Granger causality in the panel VAR model to examine the relationship between institutional ownership and idiosyncratic volatility in Chinese and the USA stock markets.
Findings
The authors find that the institutional ownership in the Chinese (the USA) stock market is significantly and positively (negatively) related to idiosyncratic volatility through various tests. This paper indicates that institutional investors in the USA are more prudent and risk-averse, while the Chinese institutional investors are not because of high risk-bearing capacity.
Originality/value
This paper deepens the authors’ understanding on the relationship between institutional ownership and idiosyncratic volatility and in the USA and the Chinese stock markets. This paper explains the opposite relationships between institutional ownership and idiosyncratic volatility in the stock markets in China and USA.
Details
Keywords
Limor Kessler Ladelsky and Thomas William Lee
This paper aims to examine whether information technology (IT) managers’ virtual listening, as rated by their high-tech employees, affected turnover behaviour beyond a new…
Abstract
Purpose
This paper aims to examine whether information technology (IT) managers’ virtual listening, as rated by their high-tech employees, affected turnover behaviour beyond a new constellation of variables, some of which have never been researched as antecedents of turnover behaviour, particularly during a pandemic or crisis. Namely, the main aim, among others, is to answer the research question: does IT employees’ perception of the quality of their supervisors’ virtual listening in the pandemic and crisis era, when employees and managers work remotely, will negatively affect turnover behaviour? If yes, in which constellation of antecedents the virtual listening effecting on turnover behaviour?
Design/methodology/approach
Logistic regression analysis was conducted to test the hypotheses via SPSS 26 and PROCESS (Model 6). The variance inflation factor was calculated to test multicollinearity. Interaction was tested using the Hayes and Preacher PROCESS macro model. The researchers also used the J-N technique test (Johnson–Neyman via process). The supplemental analysis used also PROCESS MACRO (IBM Corp., Armonk, NY, USA, 2023) Model 4 and Bootstrap test.
Findings
The findings show that perceptions of supervisors’ virtual listening quality as rated by their employees moderated the relationship between organisational deviance as a type of organisational misbehaviour (OMB) and turnover behaviour and had the strongest effect on turnover behaviour beyond other key predictors (organisational deviance as a type of misbehaviour, turnover intention, job satisfaction, embeddedness and alternatives in the labour market). Alternatives to current work moderated the association between the perception of managers’ virtual listening behaviour as rated by their employees and turnover behaviour. Specifically, when alternatives in the labour market were high or medium, the perceived quality of managers’ virtual listening reduced turnover behaviour. Finally, the perception of the IT employees supervisors’ virtual listening moderated the relationship between organisational deviance and turnover intention among high-tech employees.
Originality/value
Evaluating supervisor listening in the high-tech firm may have value in terms of its relationship to outcomes such as retaining employees, turnover intention and especially turnover behaviour. The effect on turnover behaviour and of that new constellation of antecedents on turnover behaviour when people work remotely was not researched yet and important for the post COVID-19 era. Additionally, in contrast to most studies of turnover, this study also focus on the positive aspects of turnover and especially turnover behaviour to organisations in general and especially to high-tech firm and not just the negative aspect as was researched until now. Another contribution is the finding that when employees perceived their managers’ virtual listening quality as high, the effect of deviance as a type of OMB on turnover behaviour was positive. Namely, the listening as a moderator and turnover assisted in making the organisation cleaner from inappropriate behaviour. Additionally, when alternatives in the labour market are high or medium, perceived quality of virtual listening of managers as rated by their employees can reduce turnover behaviour. This virtual listening–turnover relationship and the moderator of alternatives to current work had not previously been found in the turnover literature and this is also significant a contribution to the turnover and withdrawal literature.
Details
Keywords
Aditya Gupta, Sheila Roy and Renuka Kamath
Given the continuing need to study service marketing adaptations that emerged in the wake of Covid-19, this paper aims to look at the formation and evolution of purchase groups…
Abstract
Purpose
Given the continuing need to study service marketing adaptations that emerged in the wake of Covid-19, this paper aims to look at the formation and evolution of purchase groups (PGs) that arose in Indian gated communities during the pandemic and have continued functioning in the post-pandemic marketplace. Not only did these groups act as much-needed interstitial markets during a time of significant external disruption, but they also served as sites of value co-creation, with consumers collaborating with each other and with service providers.
Design/methodology/approach
Using a phenomenological research approach, the authors conducted 22 in-depth interviews with Indian consumers and small service providers to gather accounts of how PGs started and evolved with time. Subsequent data coding and analyses are conducted with NVivo 12.
Findings
Using the service ecosystem perspective, the authors illustrate seven distinct themes that capture the nuances of the formation and evolution of PGs. These consist of entrepreneurality, collectivity, and fluidity at the service ecosystem level, hybridity and transactionality at the servicescape level, and mutuality and permeability at the service encounter level.
Originality/value
This study provides an empirical and theoretically grounded account of a long-term service marketing adaptation that has persisted in the post-pandemic marketplace. This helps us address recent calls for such research while also adding to the work on value co-creation in collective consumption contexts and extant discourse on service ecosystems.
Details
Keywords
Catherine Mawia Mwema, Netsayi Noris Mudege and Keagan Kakwasha
While the literature has highlighted the impacts of COVID-19, there is limited evidence on the gendered determinants of the impact of COVID-19 among small-scale rural traders in…
Abstract
Purpose
While the literature has highlighted the impacts of COVID-19, there is limited evidence on the gendered determinants of the impact of COVID-19 among small-scale rural traders in developing and emerging economies.
Design/methodology/approach
Cross-border fish traders who had operated before and during the COVID-19 pandemic were interviewed in a survey conducted in Zambia and Malawi. Logistic regressions among male and female traders were employed to assess the gendered predictors.
Findings
Heterogeneous effects in geographical location, skills, and knowledge were reported among male cross-border traders. Effects of household structure and composition significantly influenced the impact of COVID-19 among female traders. Surprisingly, membership in trade associations was associated with the high impact of COVID-19.
Research limitations/implications
Due to the COVID-19 pandemic and the migratory nature of cross-border fish traders, the population of cross-border fish traders at the time of the study was unknown and difficult to establish, cross-border fish traders (CBFT) at the landing sites and market areas were targeted for the survey without bias.
Originality/value
This paper addresses a gap in the literature on understanding gendered predictors of the impacts of COVID-19 among small-scale cross-border traders.
Details
Keywords
Chanwoo Moon, Mark A. Bonn and Meehee Cho
Given the intensified competitiveness in the wine retail industry, partnering with quality suppliers becomes critical to ensure a steady supply of high-quality products and…
Abstract
Purpose
Given the intensified competitiveness in the wine retail industry, partnering with quality suppliers becomes critical to ensure a steady supply of high-quality products and sustainable business growth. This study aims to explore how wine supplier quality attributes impact wine retail businesses and if such effects differ depending on wine retail types.
Design/methodology/approach
Data were obtained from wine purchasing managers in Korea. To validate the proposed relationships, structural equation modeling was used. A multigroup analysis was conducted to test distinct roles of on/off-premise wine retail types within this research framework.
Findings
Results support the significance of supplier quality attributes in shaping the landscape of wine retail businesses. Operational and strategic benefits exhibited a positive effect on both financial performance and suppliers’ relationship satisfaction, thereby improving the intent to continue working with suppliers. This study revealed noteworthy distinctions in the effects of supplier quality attributes on operational and strategic benefits between on-premise and off-premise wine retailers.
Research limitations/implications
Findings provide valuable insights to wine suppliers and buyers concerning the establishment of a mutually beneficial long-term interdependent relationship. The approach sheds light on the unique dynamics of wine retail types, contributing to a more comprehensive understanding of the distinct roles of supplier quality attributes on on-premise and off-premise retailers.
Originality/value
This study developed an integrative framework, emphasizing the importance of supplier quality attributes in the wine retail industry. This model offers valuable insights into creating favorable buyer–supplier relationships that result in mutual benefits for both wine retailers and suppliers.
Details
Keywords
Ahmet Selcuk Yalcin, Huseyin Selcuk Kilic and Emre Cevikcan
The purpose of this article is to develop a new model called strategy segmentation methodology (SSM) by combining the Kraljic portfolio matrix (KPM) and the supplier relationship…
Abstract
Purpose
The purpose of this article is to develop a new model called strategy segmentation methodology (SSM) by combining the Kraljic portfolio matrix (KPM) and the supplier relationship model (SRM) so that the buyer company can effectively conduct its relations with its suppliers.
Design/methodology/approach
The importance weights of the criteria defining the dimensions of each model are calculated with the single-valued neutrosophic analytical hierarchy process (SVN-AHP) method. Subsequently, the derived importance weights are employed in the single-valued neutrosophic technique for order preference by similarity to ideal solution (SVN-TOPSIS) method to obtain the scores of the suppliers and their supplied items. In order to illustrate the feasibility of the proposed methodology, a case study in the machinery industry is performed with the related comparative analysis.
Findings
The implementation of SSM enables to formulate various strategies to manage suppliers taking into account the items they procure, their capabilities and performance and the supplier–buyer relationship strength. Based on the proposed strategies, it is concluded that the firm in the case study should terminate its relationship with six of its suppliers.
Originality/value
Although KPM has become the basis of purchasing strategies for various businesses, it neglects the characteristics of suppliers and the buyer–supplier relationship. In this study, KPM is integrated with the SRM approach presented by Olsen and Ellram (1997) to overcome these disadvantages of KPM. The novel integration of the two approaches enables the realization of a robust and reliable supplier classification model.
Details
Keywords
Suhaib Arogundade, Mohammed Dulaimi, Saheed Ajayi, Abdullahi Saka and Olusegun Ilori
Extant studies have discussed numerous carbon reduction drivers, but there is a dearth of holistic review and understanding of the dynamic interrelationships between the drivers…
Abstract
Purpose
Extant studies have discussed numerous carbon reduction drivers, but there is a dearth of holistic review and understanding of the dynamic interrelationships between the drivers from a system perspective. Thus, this study aims to bridge that gap.
Design/methodology/approach
The study conducted a review using Preferred Reporting Items for Systematic Reviews and Meta-Analyses and adopted interpretive structural modelling (ISM) to analyse and prioritise the drivers.
Findings
Eighteen drivers were identified and grouped into five, namely, policy instruments, bid-related, cost and risk, education and training, and reward and penalty drivers. The ISM revealed two hierarchical levels of the drivers with only higher cost of electricity/fuel on the higher level, making it the most important driver that could influence others.
Practical implications
The study presents an overview of decarbonisation drivers in the literature and would be of benefit to the government and stakeholders towards achieving net zero emissions in the construction industry.
Originality/value
The findings of the study present drivers of carbon reduction and prioritise and categorise them for tailored interventions within the construction sector. Also, it could serve as foundational knowledge for further study in the construction process decarbonisation research area.
Details
Keywords
Akila Anantha Krishnan and Angan Sengupta
This study examines the influence of the ownership structure of banks on investors' behavior by dissecting the investors' response to news regarding performance indicators in…
Abstract
Purpose
This study examines the influence of the ownership structure of banks on investors' behavior by dissecting the investors' response to news regarding performance indicators in private and government-owned banks.
Design/methodology/approach
The event study methodology is used for the analysis. The data for 35 banks (out of 38), listed on the National Stock Exchange (NSE) for a duration of 230 months (January 2001 to February 2020) is collected. A set of cross-sectional regression analyses is done to identify variables influencing the returns under differential circumstances.
Findings
Private banks seem to display a sharper response to negative changes in earnings, while government-owned banks show a more robust reaction to a positive change. The contrast is seen in the variables, having a bearing on the abnormal returns After controlling for a set of factors, the regression analysis shows the ownership structure may not matter on abnormal returns (on event day), the factors such as a change in quarterly earnings, firm-size and three-year average-sales growth influence the positive and negative changes in abnormal returns of government banks, and predictability for private banks is found to be poor regarding selected indicators.
Originality/value
The study evaluates the role of ownership structure on the heterogeneity in investors' responses to the financial performance of banks, thereby assisting in designing strategies to ensure the optimal outcome around the quarterly earnings announcements.
Details
Keywords
Andrea Delle Foglie and J.S. Keshminder
The main objective of this paper is to analyze works of literature on SRI sukuk to highlight the potential for these kinds of instruments in financing more sustainable financial…
Abstract
Purpose
The main objective of this paper is to analyze works of literature on SRI sukuk to highlight the potential for these kinds of instruments in financing more sustainable financial systems (SFSs). The analysis mainly accentuates a dearth of knowledge on the various challenges and opportunities in the realm of SRI.
Design/methodology/approach
This paper pioneers the bibliometric and systematic literature review of the development of the SRI sukuk from 2016 (the first available year in the field) to and 2021.
Findings
The study findings highlighted several pertinent SRI issues: the lack of standardization due to the different interpretations of Shariah and green, the lack of retail investors, which inevitably produce a lack of liquidity in the secondary market, thus limiting their growth, its funding allocation’ close resemblance to green financing, and the role of Malaysia and Indonesia as global sustainable financial hubs to stimulate the development of Shariah-compliant sustainable instruments and contribute to the international debate about the building of a global standardized framework related to sustainable investments.
Originality/value
The integration of the environmental principles of a green bond with the Shariah-compliant financial structure of a sukuk, the SRI sukuk, represents a vital crossroad in both sustainable and Islamic finance. Social-impact sukuk and green sukuk is an undervalued instrument that could play an important role in financing a more sustainable economic and financial system, including Islamic investing. This kind of instruments, which is based on a “pay for success” principle in the conventional layout, perfectly fit with the profit-and-lost sharing’s (PLS's) ethicality, the sustainability principles of Islamic finance and the religious principles of Islamic law.
Details