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1 – 10 of over 7000Qiaoqi Lang, Jiqian Wang, Feng Ma, Dengshi Huang and Mohamed Wahab Mohamed Ismail
This paper verifies whether popular Internet information from Internet forum and search engine exhibit useful content for forecasting the volatility in Chinese stock market.
Abstract
Purpose
This paper verifies whether popular Internet information from Internet forum and search engine exhibit useful content for forecasting the volatility in Chinese stock market.
Design/methodology/approach
First, the authors’ study commences with several HAR-RV-type models, then the study amplifies them respectively with the posting volume and search frequency to construct HAR-IF-type and HAR-BD-type models. Second, from in-sample and out-of-sample analysis, the authors empirically investigate the interpretive ability, forecasting performance (statistic and economic). Third, various robustness checks are utilized to reconfirm the authors’ findings, including alternative forecast window, alternative evaluation method and alternative stock market. Finally, the authors further discuss the forecasting performance in different forecast horizons (h = 5, 10 and 20) and asymmetric effect of information from Internet forum.
Findings
From in-sample perspective, the authors discover that posting volume exhibits better analytical ability for Chinese stock volatility than search frequency. Out-of-sample results indicate that forecasting models with posting volume could achieve a superior forecasting performance and increased economic value than competing models.
Practical implications
These findings can help investors and decision-makers obtain higher forecasting accuracy and economic gains.
Originality/value
This study enriches the existing research findings about the volatility forecasting of stock market from two dimensions. First, the authors thoroughly investigate whether the Internet information could enhance the efficiency and accuracy of the volatility forecasting concerning with the Chinese stock market. Second, the authors find a novel evidence that the information from Internet forum is more superior to search frequency in volatility forecasting of stock market. Third, they find that this study not only compares the predictability of the posting volume and search frequency simply, but it also divides the posting volume into “good” and “bad” segments to clarify its asymmetric effect respectively.
Highlights
This study aims to verify whether posting volume and search frequency contain predictive content for estimating the volatility in Chinese stock market.
The forecasting model with posting volume can achieve a superior forecasting performance and increases economic value than competing models.
The results are robust in alternative forecast window, alternative evaluation method and alternative market index.
The posting volume still can help to forecast future volatility for mid- and long-term forecast horizons. Additionally, the role of posting volume in forecasting Chinese stock volatility is asymmetric.
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Muhammad Mustafa Raziq, Qudsia Jabeen, Sharjeel Saleem, Mohamed Dawood Shamout and Samad Bashir
Drawing on the competing values framework, we look at the relationship of different organizational cultures (clan, hierarchy, adhocracy and market) with organizational…
Abstract
Purpose
Drawing on the competing values framework, we look at the relationship of different organizational cultures (clan, hierarchy, adhocracy and market) with organizational performance. Furthermore, we examine the mediating role of knowledge sharing (attitude and behavior) in the organizational culture and organizational performance relationship.
Design/methodology/approach
We draw on survey data from 241 respondents working in the aerospace and aviation manufacturing and services firms in Pakistan (85), Turkey (65) and the United Arab Emirates (91). We employ structural equation modeling for data analysis.
Findings
Results suggest that knowledge sharing partially mediates the relationship between clan culture and organizational performance, and fully mediates the market culture and organizational performance relationship. Hierarchy culture is only positively related to organizational performance, while adhocracy culture shows no relationship with knowledge sharing, let alone organizational performance.
Originality/value
While knowledge sharing enhances organizational performance, there is limited knowledge with regard to the specific organizational culture(s) conducive to knowledge sharing and organizational performance. The study extends existing research on the topic and contributes by showing which cultures are more conducive to knowledge sharing and organizational performance and which are less.
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Efraín Medina-Álvarez and Patricia S. Sánchez-Medina
The purpose of this paper is to contribute to the understanding of the relationship between different types of organizational culture (hierarchical, clan or group, market or…
Abstract
Purpose
The purpose of this paper is to contribute to the understanding of the relationship between different types of organizational culture (hierarchical, clan or group, market or rational and adhocratic) and sustainability through three dimensions (economic, environmental and social) in ecotourism businesses in Oaxaca and Chiapas, Mexico.
Design/methodology/approach
In this research 80 questionnaires were administered in the form of face-to-face interviews to ecotourism business owners'. Through a discriminant analysis and the theoretical support of the competing values framework (CVF), the prevailing types of culture were identified, and their influence was analysed through a regression analysis.
Findings
The results show that ecotourism businesses which are driven by hierarchical culture tend to have a greater focus on economic sustainability, while those businesses with a market or rational culture show a positive and significant influence on environmental sustainability. Likewise, businesses with adhocratic culture achieve sustainability holistically; however, the data reveal that clan or group culture is not associated with social sustainability.
Originality/value
This study offers empirical research that explains the relationship between organizational culture and sustainability. Additionally, it contributes to the study of environmental management issues in the ecotourism sector.
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Tomás Vargas-Halabi and Rosa Maria Yagüe-Perales
This research aimed to conceptualize organizations as open and purposeful systems to study how organizational culture (OC) influences firms' Innovative Performance (IP). The…
Abstract
Purpose
This research aimed to conceptualize organizations as open and purposeful systems to study how organizational culture (OC) influences firms' Innovative Performance (IP). The authors proposed goal setting and internal integration/external adaptation paradox as central to explaining OC's mediating and suppressing effects on IP.
Design/methodology/approach
The authors collected data from 372 Costa Rican organizations and analyzed them with structural equations. This research used the Denison Model instead of the usual typology-based approaches.
Findings
The mission had a direct and high impact on IP. The mediated effect via adaptability was also elevated, as well as the suppressor effect through consistency. There was no effect on IP of involvement. According to these results, the Open and Rational Systems Framework emerge as the main theoretical explanatory concepts.
Originality/value
Disaggregating the OC through a performance-oriented dimensional model makes it possible to study the dynamics between the elements that compound it and facilitate integrating these findings with other research streams.
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Ana Junça Silva and Neuza Coelho
The COVID-19 pandemic forced organizations to adopt telework, many of the organizations without any prior preparation, influencing not only daily organizational routines but also…
Abstract
Purpose
The COVID-19 pandemic forced organizations to adopt telework, many of the organizations without any prior preparation, influencing not only daily organizational routines but also workers' happiness. Happiness is important for organizations because happy and fulfilled workers are a key to achieving organizational success. Organizational culture is a critical factor to implement telework, because that may influence the workers' attitudes toward this model of work and workers' happiness. This study aimed to test the moderating role of organizational culture (clan, adhocracy, market and hierarchical) in the relationship between attitudes toward teleworking and happiness.
Design/methodology/approach
To meet the objectives, the authors collected data from 265 teleworkers.
Findings
The results revealed that only market culture moderated the relationship between attitudes toward teleworking and happiness, such that this relationship became stronger in the presence of a goal-oriented culture. No other dimension of organizational culture significantly moderated the relationship between telework and happiness.
Practical implications
These results prove to be fundamental for a better understanding of organizational and individual factors when organizations want to implement telework as a work arrangement.
Originality/value
Considering the mainstream literature in telework, to the best of the authors' knowledge, this is the first study to date to integrate the moderating role of organizational culture in the relationship between telework and happiness.
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Juan Antonio Giménez Espín, Daniel Jiménez Jiménez and Micaela Martínez Costa
This paper aims to adopt Cameron and Quinn’s analysis of organizational culture and March’s learning framework to analyze the type of organizational culture (OC) that promotes…
Abstract
Purpose
This paper aims to adopt Cameron and Quinn’s analysis of organizational culture and March’s learning framework to analyze the type of organizational culture (OC) that promotes learning competences and whether exploration and exploitation competences (ambidexterity) improve the European Foundation of Quality Management (EFQM) results (excellent results). In addition, this research tests if these competences exercise a mediating effect in the relationship between OC and performance.
Design/methodology/approach
A model is proposed whose relationships have been tested using structural equations. The sample was obtained from the SABI database. Two hundred valid questionnaires were returned via a webpage, in which four managers from each of the 200 organizations responded.
Findings
The results support the proposed relationships. Adhocracy, hierarchy and market culture have a positive relationship with excellent results. A hierarchical culture develops exploitation competences, and a market culture develops learning ambidexterity. Moreover, exploration and exploitation increase results. Finally, these two cultures indirectly influence results through exploration and exploitation competences.
Research limitations/implications
The proposed model can help managers who implement the EFQM model to better understand how the culture of their organization promotes learning and how these two variables improve their performance.
Practical implications
Because the EFQM model requires organizations to use a knowledge management system to enhance the effect of the enabliers criteria on excellent results, the managers of these companies must know that only market and hierarchy cultures are suitable for it. Besides, this study highlights the importance of two cultural values for the implementation of the EFQM Model and, therefore, to promote excellent results: market orientation and process control.
Originality/value
This study fills an existing gap in the literature by combining exploitation, exploration, OC and EFQM results in a single model and highlights the importance of market orientation and process control for excellent results and knowledge exploration and exploitation.
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Jaemin Kim, Michael Greiner and Ellen Zhu
The worldwide imposition of lockdown measures to control the 2020 coronavirus disease 2019 (COVID-19) outbreak has shifted most executive communications with external stakeholders…
Abstract
Purpose
The worldwide imposition of lockdown measures to control the 2020 coronavirus disease 2019 (COVID-19) outbreak has shifted most executive communications with external stakeholders online, resulting in quick responses from stakeholders. This study aims to understand how presentational styles exhibited in online communication induce immediate audience responses and empirically test the effectiveness of reactive impression management tactics.
Design/methodology/approach
The authors analyze presentational styles using MP3 files containing executive utterances during earnings call conferences held by S&P 100-listed firms after June 2020, the quarter after the World Health Organization declared the COVID-19 outbreak a pandemic on March 11, 2020. Using timestamps, the authors link each utterance to a 1-minute interval change in the ask/bid prices of the stocks that occurs a minute after the corresponding utterance begins.
Findings
Exhibiting an informational presentation style in earnings calls leads to positive and immediate audience responses. Managers tend to increase their reliance on promotional presentation styles rather than on informational ones when quarterly earnings exceed market forecasts.
Originality/value
Drawing on organizational genre theory, this research identifies the discrepancy between the presentation styles that audiences positively respond to and those that managers tend to exhibit in earnings calls and provides a reactive impression management typology for immediate responses from online audiences.
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Frank Nana Kweku Otoo, Manpreet Kaur and Nissar Ahmed Rather
Internal control systems are critical to an organization's efficiency and promotes the adherence to norms and rules. The purpose of this study is to evaluate the impact of…
Abstract
Purpose
Internal control systems are critical to an organization's efficiency and promotes the adherence to norms and rules. The purpose of this study is to evaluate the impact of internal control systems on banking industry effectiveness.
Design/methodology/approach
Data were collected from 15 commercial and 20 rural banks. The hypothesized relationships were supported by the data. A structural equation modeling was applied in testing the conceptual model and hypothesis. Confirmatory factor analysis was conducted to establish validity and reliability of the dimensions.
Findings
The results show that organizational effectiveness was significantly impacted by three dimensions of internal control systems: control activities, control environments and risk assessment. However, the impact of monitoring of control on organizational effectiveness was not significant. The results also show a nonsignificant impact of information and communication on organizational effectiveness.
Research limitations/implications
Since the current study concentrated on the banking sector with its distinct characteristics, the generalizability of the conclusions may be limited.
Practical implications
The study's findings may aid decision-makers and stakeholders in the adoption, designing and implementation of proactive internal control system to enhance operational efficiency, effectiveness and competitive advantage.
Originality/value
The study advances the literature by empirically evidencing that internal control systems impact organizational effectiveness.
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Bambang Tjahjadi, Noorlailie Soewarno, Annisa Ayu Putri Sutarsa and Johnny Jermias
This study aims to investigate the direct effect of intellectual capital on the organizational performance of Indonesian state-owned enterprises (SOEs) and their subsidiaries…
Abstract
Purpose
This study aims to investigate the direct effect of intellectual capital on the organizational performance of Indonesian state-owned enterprises (SOEs) and their subsidiaries. Furthermore, it also examines whether the relationship is mediated by open innovation and moderated by organizational inertia.
Design/methodology/approach
This study is designed as quantitative research. A survey method is employed to collect data by distributing questionnaires to the upper-level managers of the SOEs and their subsidiaries. A total of 293 questionnaires were distributed to the respondents, and 97 responses were obtained for further analysis. The partial least square structural equation modeling (PLS-SEM) is used to test the hypotheses. A mediation-moderation research framework is employed.
Findings
The results show that intellectual capital has a positive effect on organizational performance. Further results also demonstrate that open innovation mediates the intellectual capital–organizational performance relationship and organizational inertia moderates the intellectual capital–organizational performance relationship. Theoretically, the findings contribute to the resource-based view (RBV) and knowledge-based view (KBV) by providing empirical evidence of the importance of distinctive internal resources in achieving superior organizational performance. Practically, the findings provide strategic information for managers that they should properly manage intellectual capital, open innovation and organizational inertia because of their effects on organizational performance.
Originality/value
First, this study addresses the previous research gaps by confirming that intellectual capital has a positive effect on organizational performance in the research setting of an emerging market. Second, by using a mediation research framework, this study shows that open innovation mediates the relationship between intellectual capital and organizational performance. Third, by using a moderating research framework, this study also reveals that organizational inertia weakens the relationship between intellectual capital and organizational performance. Those associations are rarely researched.
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Aiza Yasmeen and Saran Khan Ajmal
Based on the leader-members exchange (LMX) theory, the purpose of this paper is to examine the impact of ambidextrous leadership on employee creativity through ambidextrous…
Abstract
Purpose
Based on the leader-members exchange (LMX) theory, the purpose of this paper is to examine the impact of ambidextrous leadership on employee creativity through ambidextrous behavior. The study also investigates an organizational culture that amplifies the positive influence of ambidextrous leadership on employee creativity.
Design/methodology/approach
Primary data were collected form 300 permanent employees of the local government department of Azad Jammu and Kashmir (AJK). Hypotheses were tested by using Hayes PROCESS macro.
Findings
Results indicated that ambidextrous style of leadership and employee creativity is mediated by ambidextrous behavior of employees. The findings of the study also established the fact that the relationship of ambidextrous leadership and employee creativity is subject to the organizational culture.
Research limitations/implications
The current study was carried out in the local government department; researchers can conduct research by studying multiple government departments at once. In addition, the present study is cross-sectional; scholars in future can take a longitudinal approach to capture employee creativity at different points of time.
Practical implications
For establishing a welcoming innovation atmosphere and assist workers' creative behaviors, ambidextrous leadership should be practiced by leaders from day-to-day operations. Leaders must create flexible abilities to adapt internal resources (knowledge and values) in the public sector into new behavioral patterns that encourage employee creativity.
Originality/value
This is the first study that investigates the ambidextrous behavior as a vital intervening mechanism in the ambidextrous leadership–employee creativity linkage. Further, this study provides first empirical evidence by study the organizational culture as a moderator in determine the impact of ambidextrous leadership on employee creativity.
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