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Article
Publication date: 14 July 2022

Renu Jonwall, Seema Gupta and Shuchi Pahuja

Socially responsible investment (SRI) is a niche and upcoming investment strategy in India. Very few researches have been conducted on SRI in the Indian context. This study…

1848

Abstract

Purpose

Socially responsible investment (SRI) is a niche and upcoming investment strategy in India. Very few researches have been conducted on SRI in the Indian context. This study identifies the SRI awareness level, attitude towards the importance of environmental, social, and governance (ESG) issues, willingness to invest in SRI avenues and obstacles in SRI investment decision-making by Indian retail investors. The second objective was among the awareness, attitude, willingness, obstacle, and demographic constructs to identify the most significant variables that impact an individual investor's SRI decision in India. .

Design/methodology/approach

Data for the study have been collected through a self-structured questionnaire. Descriptive statistics are used to identify the importance of variables for individual investors. This paper used the theory of planned behavior (TPB) to understand the factors impacting individual investors' SRI behavior. Binary logistics regression analysis is used to recognize the variables that affect an individual investor's SRI decision.

Findings

The descriptive statistics indicate a low level of SRI awareness; the majority of the investors agreed that ESG issues are significant in investing and showed a willingness to invest in SRI avenues. However, the investors were not willing to accept lower returns from SRI. The majority of investors found, lower returns on SRIs, no tax benefit, lack of information about SRIs, and low liquidity as important obstacles in SRI investing. Binary logistics regression results indicated that awareness about SR/ESG indices, awareness about SR/ESG funds, and willingness to invest in SRI avenues significantly impact investors' SRI decisions but demographic variables have no significant impact on SRI decision-making.

Practical implications

This study has implications for the ethical/SR mutual funds managers, policymakers, government, and international asset management companies. The study finds an urgent need for increasing awareness about SRI among individual investors in India. The study suggests that the issuers must provide adequate information about SRI avenues and probable risk and returns involved in these, while the regulators must make efforts to educate investors in India.

Originality/value

The context of the present study is original because hardly any of the earlier studies conducted in India have tried to find out the individual investors' SRI awareness level, investors' willingness towards SRI, investors' attitude towards ESG issues, and obstacles faced by investors in socially responsible investing.

Open Access
Article
Publication date: 4 January 2024

Ankita Kalia

This study aims to explore the relationship between chief executive officer (CEO) power and stock price crash risk in India. Furthermore, it seeks to analyse how insider trades…

Abstract

Purpose

This study aims to explore the relationship between chief executive officer (CEO) power and stock price crash risk in India. Furthermore, it seeks to analyse how insider trades may moderate the impact of CEO power on stock price crash risk.

Design/methodology/approach

A study of 236 companies from the S&P BSE 500 Index (2014–2023) have been analysed through pooled ordinary least square (OLS) regression in the baseline analysis. To enhance the results' reliability, robustness checks include alternative methodologies, such as panel data regression with fixed-effects, binary logistic regression and Bayesian regression. Additional control variables and alternative crash risk measure have also been utilised. To address potential endogeneity, instrumental variable techniques such as two-stage least squares (IV-2SLS) and difference-in-difference (DiD) methodologies are utilised.

Findings

Stakeholder theory is supported by results revealing that CEO power proxies like CEO duality, status and directorship reduce one-year ahead stock price crash risk and vice versa. Insider trades are found to moderate the link between select dimensions of CEO power and stock price crash risk. These findings persist after addressing potential endogeneity concerns, and the results remain consistent across alternative methodologies and variable inclusions.

Originality/value

This study significantly advances research on stock price crash risk, especially in emerging economies like India. The implications of these findings are crucial for investors aiming to mitigate crash risk, for corporations seeking enhanced governance measures and for policymakers considering the economic and welfare consequences associated with this phenomenon.

Details

Asian Journal of Economics and Banking, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2615-9821

Keywords

Article
Publication date: 10 May 2023

Dalina Amonhaemanon

“Poor, Stressed, Drink (alcohol), and Gambling” is one of the campaigns for poverty eradication in Thailand. This study focuses on informal workers—gamblers—who belong to…

Abstract

Purpose

“Poor, Stressed, Drink (alcohol), and Gambling” is one of the campaigns for poverty eradication in Thailand. This study focuses on informal workers—gamblers—who belong to low-income groups and are not covered by the law as an employer. The main objective was to investigate the factors affecting financial stress among informal laborers and determine the factors that drive informal workers to buy lottery tickets (classified by economic, psychological and social motives).

Design/methodology/approach

The authors applied binary logistic regression to determine what factors affected financial stress and multinomial logistic regression was applied to examine the factors affecting the motives for buying the lottery.

Findings

According to the study's results, factors including education, income, gambling intensity, level of financial literacy, saving and knowledge about finance in general influenced both economic and psychological motives negatively. However, gender, status, age, level of risk tolerance, self-evaluated level of acceptable risk and knowledge about compound interest influenced both economic motives and psychological motives positively. It is worth noting that both the self-evaluation of their level of financial literacy and knowledge about inflation resulted in effects moving in different directions, with self-evaluation of their level of financial literacy and knowledge about inflation negatively affecting economic motives, but positively affecting psychological motives.

Practical implications

The results of this study are expected to help policymakers understand more about this issue since it will illustrate the relationships between financial stress and financial literacy, financial behaviors, financial attitudes and risk tolerance and gambling behaviors. After all, financial stress is a significant problem affecting individuals, their families and the community, and it stems from various complex factors. Therefore, the government and counseling agencies should apply active strategies to mitigate these issues and lessen the resulting financial stress by providing financial literacy projects, as well as financial counseling.

Social implications

Low financial literacy, especially being inefficient at managing one's finances, unusually comes with unhealthy financial thought patterns, as well as a lack of systematic financial management. Furthermore, the lack of financial literacy can potentially lead to unfavorable circumstances. When one falls into uncontrollable situations, including divorce, becoming unemployed, having health problems, being in toxic relationships, loss of a breadwinner, an unexpected pregnancy, etcetera, they could easily find themselves failing to properly cope with these problems and become stressed. Finally, they are also more at risk to take illicit drugs or begin gambling more frequently.

Originality/value

One of the key elements that reduces financial stress is a person's finances, which is thought to have a significant role in reducing their betting behaviors. The findings of this study can be used to guide policy making intended to deter those who have never gambled from starting. Gambling is considered a risk-taking activity with a higher value reward in return. Money, enjoyment, socialization and excitement were all popular motives for gambling. These findings were consistent with what has been observed in Thai society related to the factors influencing individual to gamble, in other words, economic, psychological and social motives. The study focused on gamblers who were informal laborers. They are laborers without an employer according to the Thai labor law, do not have any social security from the government and, usually, have low incomes.

Details

Review of Behavioral Finance, vol. 16 no. 2
Type: Research Article
ISSN: 1940-5979

Keywords

Article
Publication date: 23 May 2023

Honest F. Kimario and Leonada R. Mwagike

This study was steered to establish how buyer–supplier collaboration's commitment attributes serve as an antecedent for procurement performance in large manufacturing entities in…

Abstract

Purpose

This study was steered to establish how buyer–supplier collaboration's commitment attributes serve as an antecedent for procurement performance in large manufacturing entities in Tanzania.

Design/methodology/approach

A parallel, concurrent, mixed method was used in the study. Quantitatively, 52 firms were surveyed from Temeke Municipality, Tanzania, using questionnaire that specified 1 procurement manager and 1 store manager from those firms, totaling a sample size of 104 respondents. Qualitatively, expressive opinions to supplement the numeric data were gathered from supply chain managers using the saturation principle. Explanatory design analyzed the existing cause–effect relationship, and the null hypotheses were tested using binary logistic regression at p values < 0.05 and ExpB > 1.

Findings

Fidelity and enthusiasm to suggest improvements to suppliers and the duration of the collaboration antecede the procurement performance of the manufacturing firms in Tanzania, while devotion to invest resources and initiatives on joint problem solving have no significant impact.

Research limitations/implications

The causality between buyer–supplier collaboration and procurement performance has been revealed. Since there might be third party logistics in collaborations, future research should center on their moderating effect.

Practical implications

A framework has been developed for liberating procurement performance in the context of large manufacturing firms in Tanzania.

Originality/value

Based on Transaction Cost Economics and Resource Dependency Theories, the study revealed the root cause of procurement performance in the context of Tanzanian manufacturing firms, while also considering commitment to buyer–supplier collaboration as a prerequisit for the commendable target.

Details

Benchmarking: An International Journal, vol. 31 no. 2
Type: Research Article
ISSN: 1463-5771

Keywords

Article
Publication date: 26 June 2023

Zayyad Abdul-Baki, Roszaini Haniffa and Ahmed Diab

This study aims to examine whether corporate governance mechanisms – board size, board independence and CEO duality – influence the actions of oil companies operating in Nigeria…

Abstract

Purpose

This study aims to examine whether corporate governance mechanisms – board size, board independence and CEO duality – influence the actions of oil companies operating in Nigeria to clean up oil spills from their facilities.

Design/methodology/approach

Both binary logistic regression (linear) and random-effects logistic regression models were used to test three hypotheses using a unique data set of 1,262 oil spill events involving 24 oil companies from 2017 to 2019.

Findings

The study found that board size and board independence are positively related to oil spill cleanup.

Practical implications

Private oil companies in Nigeria should encourage larger and more independent boards in their corporate governance (CG) structures, as these boards may be more effective in serving the interests of stakeholders by bringing diverse knowledge and experience to the boards. Similarly, regulators should extend the enforcement of CG codes to private firms.

Originality/value

To the best of the authors’ knowledge, this is the first study that investigates the influence of CG attributes on oil spill cleanup.

Details

Corporate Governance: The International Journal of Business in Society, vol. 24 no. 1
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 9 August 2022

Timo Kleiner-Schaefer, Ekrem Tatoglu and Ingo Liefner

This paper contributes insights into how different firm types in the emerging market (EM) of Turkey respond to upgrading pressures in terms of internationalization and the usage…

Abstract

Purpose

This paper contributes insights into how different firm types in the emerging market (EM) of Turkey respond to upgrading pressures in terms of internationalization and the usage of domestic political support. It seeks to highlight how the usage of and the responses to different strategies, connections and policy instruments vary with firm types.

Design/methodology/approach

Binary logistic regression analysis is used to differentiate and identify characteristics of firms regarding market-seeking strategies and their usage of institutional and financial support. The analysis is based on survey data from firms located in the metro-region of Istanbul: advanced market multinational enterprises (AMNEs), Turkish MNEs (TMNEs) and domestic Turkish firms (DTFs).

Findings

Different types of firms within the population of innovative firms in the EM setting of Turkey show significant variety regarding the usage of and the responses to key factors affecting internationalization. AMNEs particularly benefit from investment and export incentives as well as from establishing political connections in Turkey. DTFs significantly use tax incentives and primarily seek advanced markets. TMNEs particularly benefit from investment and export incentives and prefer to target advanced markets.

Research limitations/implications

Using Turkey as a single-country setting is a limitation to the generalizability of the results. Future studies could use more cases of AMNEs to compare different countries of origin. In addition, the intended focus on R&D-related firms produces specific outcomes for such companies.

Practical implications

National and regional policies need to pursue different strategies for the surveyed groups of firms to attract and maintain foreign direct investments (FDIs) of AMNEs as well as to support outward FDIs of domestic firms and EM MNEs. In particular, policies for market entries and knowledge sourcing in advanced markets are becoming a crucial factor for EM firms in overcoming a shortage of resources at home.

Originality/value

This paper’s findings challenge existing theories such as the concept of psychic distance or liabilities of foreignness, which do not always provide an adequate explanation for internationalization activities of EM firms. In addition, it is highly relevant to apply an eclectic or multidimensional concept when conducting research in EMs in order to capture the interrelated constructs of upgrading, internationalization and political support.

Details

International Journal of Emerging Markets, vol. 19 no. 3
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 3 May 2023

Henrik Bathke, Hendrik Birkel, Heiko A. von der Gracht and Stefanie Kisgen

In the era of digital disruption and customer loyalty loss, it has become even more important to shape the experience journey of a firm’s stakeholders. The benefits of experience…

Abstract

Purpose

In the era of digital disruption and customer loyalty loss, it has become even more important to shape the experience journey of a firm’s stakeholders. The benefits of experience data (XD) analysis for a competitive advantage and firm performance are well proven in the business-to-customer context. Therefore, this study aims to explore the limited exploitation of XD in the business-to-business (B2B) context.

Design/methodology/approach

The data of 338 B2B firms is generated through computer-assisted telephone interviewing using a structured interview guideline. A Mann–Whitney U test and binary linear regression are applied to test hypotheses derived from literature.

Findings

The results suggest that XD non-collectors see XD increase efficiency, whereas XD collectors view XD strategically beyond customer data. Additionally, the successful application of XD in firms can be fostered by connecting XD with operational data through digitalised processes, strategic usage and data collection at certain defined points of time.

Originality/value

This study contributes to the understanding of XD perception between collectors and non-collectors and develops determinants for the successful application of XD management. Based on the results, B2B marketing executives from academics and practice can foster the implementation of XD management to improve all firm’s stakeholders’ experiences. In this way, this study contributes to the understanding of managing not only customers’ but other stakeholders’ experiences.

Details

Journal of Business & Industrial Marketing, vol. 38 no. 12
Type: Research Article
ISSN: 0885-8624

Keywords

Article
Publication date: 20 December 2023

Muhammad Sholihin, Catur Sugiyanto and Akhmad Akbar Susamto

This research aims to examine the impact of religiosity and other control variables on Muslims’ environmental preservation and economic growth choices in 33 nations.

Abstract

Purpose

This research aims to examine the impact of religiosity and other control variables on Muslims’ environmental preservation and economic growth choices in 33 nations.

Design/methodology/approach

The study uses data from the World Values Survey (Waves 4–7) with a large sample size of 30,242 individuals. Logistic regression analysis is used to analyze the data, and the robustness principle is applied using the marginal effect of interaction variables method to select a viable model.

Findings

This study reveals that different aspects of religiosity – cognitive, affective and behavioral – positively impact the tendency of Muslims in 33 countries to prioritize environmental protection over economic progress. However, these influences vary significantly, as seen through odds ratios. In essence, the degree of religious devotion in these nations affects individuals’ leaning toward environmental preservation. This impact is further shaped by other factors such as politics, governance, economic development, environmental measures and legal frameworks.

Practical implications

The practical implication of this study is the development of an alternative theory that explains the conditions and categories under which religious beliefs and attitudes can influence the preferences of Muslims concerning environmental issues and economic growth.

Originality/value

This study fills a void in the body of literature by examining the nonlinear relationship between religiosity and individual Muslim preferences for environmental preservation and economic growth. It offers a framework for comprehending religion’s impact on Muslims’ redistributive individual preferences in these fields.

Details

International Journal of Energy Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 12 September 2023

Abubakar Yinusa Muhammed, Waziri B. Adisa, Johnson Ayodele, Olawale James Gbadeyan and Esther Garba

Conflicts between herders and farmers in Nigeria in the last five years have been destructive to the corporate existence of Nigerian society and the Nigerian State, especially in…

Abstract

Purpose

Conflicts between herders and farmers in Nigeria in the last five years have been destructive to the corporate existence of Nigerian society and the Nigerian State, especially in Northcentral, Northwestern and Southern Nigeria. This paper aims to investigate the relationships between state responses and peace-building in rural grazing communities in Nigeria using a National Survey on Peace-building in Nigeria conducted by this team using a cross-sectional survey of 1,711 farmers and herders.

Design/methodology/approach

The study adopted the political economy of the herder–farmers conflict in Africa to contextualise the problem. Data generated from the study were analysed using chi-square test and binary logistic regression model.

Findings

The results showed that protection of victims of herder–farmers conflict (P = 0.024), blockage of sources of illicit weapons (P = 0.000), arrest of leaders (P = 0.043), provision of shelter (P = 0.030), provision of food (P = 0.037), protection of women from sexual exploitation and abuse (P = 0.019) and use of the media were positively related to peace-building in the rural grazing areas. The study further found that when the Federal Government (ß= 0.452, P = 0.018), State Government (ß= 0.522, P = 0.018), private individuals (ß = 0.855, P = 0.000) and cooperative societies (ß = 0.744, P = 0.021) established ranches, peace was likely to be guaranteed as opposed to where herders (ß= –0.355, P= 0.029) were allowed to establish ranches in the rural grazing communities in Nigeria implying that the Federal and State Government must be cautious in the implementation of the Livestock Transformation Plans not to create an impression that it is designed to favour the herders.

Originality/value

To the best of the authors’ knowledge, this study is original and the paper has not been submitted to any journal.

Details

Journal of Aggression, Conflict and Peace Research, vol. 16 no. 2
Type: Research Article
ISSN: 1759-6599

Keywords

Open Access
Article
Publication date: 8 July 2021

Maleeha Ashraf, Gabriella Cagliesi, Denise Hawkes and Maryam Rab

Driven to improve the quality of higher education as an engine of growth and socio-economic development within Pakistan for 20 years, the Higher Education Commission (HEC) in…

Abstract

Driven to improve the quality of higher education as an engine of growth and socio-economic development within Pakistan for 20 years, the Higher Education Commission (HEC) in Pakistan has focused on linking academics and professional services staff with their counterparts in various countries, including the UK, US, and Australia. In collaboration with the British Council, the PAK-UK initiative has been launched to offer deeper linkages between the academics and universities in the UK and Pakistan. This paper presents statistical analysis of data collected in a British Council project highlighting the gender inequalities of the current HEC strategy. The results suggest the potential for online opportunities to help close and amend this gender gap and improve higher education in Pakistan, and the PAK-UK initiative's role in contributing more broadly to the United Nations Sustainable Development Goals.

Details

Emerald Open Research, vol. 1 no. 12
Type: Research Article
ISSN: 2631-3952

Keywords

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