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Open Access
Article
Publication date: 26 February 2024

Thi Hong An Thai and Minh Tri Hoang

Using imbalanced panel data of nonfinancial Vietnamese listed firms from 2005 to 2021, this paper explores the potential effect of ownership on firms' cash levels.

Abstract

Purpose

Using imbalanced panel data of nonfinancial Vietnamese listed firms from 2005 to 2021, this paper explores the potential effect of ownership on firms' cash levels.

Design/methodology/approach

Two hypotheses are tested using different methods, including pooled ordinary least squares (POLS) and system-generalized method of moments (GMM), to investigate the ownership–cash holding relationship for various firm scenarios. Both book and market measures of the cash ratio are examined.

Findings

Results show that foreign and state ownership encourages firms to increase their cash reserves. The positive relationship between ownership and cash holding is, especially, pronounced for firms in the financial deficit.

Research limitations/implications

This research suggests that in this emerging market, outside ownership substantially accelerates cash to hedge against the unexpected issues caused by poor investor protection, low political accountability and information asymmetry.

Originality/value

The study contributes to the existing understanding of the relationship between ownership and corporate cash holdings in the context of a typical emerging market. Besides, it expands the existing knowledge to the extent of such relations in the event of a financial shortage.

Details

Journal of Economics and Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1859-0020

Keywords

Open Access
Article
Publication date: 22 December 2023

Chanapa Jindain and Bhumiphat Gilitwala

The purpose of this study was to investigate the factors impacting the intermediating variable of employee engagement toward employee performance in a hybrid working organization…

1566

Abstract

Purpose

The purpose of this study was to investigate the factors impacting the intermediating variable of employee engagement toward employee performance in a hybrid working organization in Bangkok, Thailand.

Design/methodology/approach

This study uses secondary data analysis and an archival study; the primary data were gathered from 370 employees who are working in a hybrid model environment in a private agricultural machinery company. To construct a new conceptual framework, this study adopted four frameworks from the previous research.

Findings

Perceived organizational support and trust and respect in the organization are found to have a significant positive impact on employee engagement. Moreover, there is a significant positive impact of the employee engagement on employee performance in a hybrid working model.

Research limitations/implications

For hybrid work environments, the research focused mainly on the emotional themes of perceived support, trust and respect in the organization. Therefore, there would be many factors that could possibly affect those dependence variables in any environment, which will have to be investigated more in future research. Either in the organization or in the company, many departments and business units operates for the company, but the researcher specifies only the business units or departments that now use the hybrid working model.

Practical implications

This study focuses on a case study of an agricultural machinery company, which likely produces different results than other industries, other industries may produce different results.

Social implications

Hybrid working models can blur the boundaries between work and personal life, potentially leading to increased stress and burnout. Organizations should prioritize work-life balance and employee well-being by promoting flexible schedules, encouraging breaks and time off, and providing resources for mental health support.

Originality/value

The organization which is operating among a hybrid working model, the increasing of perceived organizational support and trust and respect level, has positively increase the employee engagement toward enhancing the employee performance.

Details

Rajagiri Management Journal, vol. 18 no. 2
Type: Research Article
ISSN: 0972-9968

Keywords

Open Access
Article
Publication date: 7 March 2024

Shuwei Zang, Mengyuan Sun, Qimeng Wang, Haofu Wang and Shanwu Tian

The purpose of this paper is to discuss how enterprises can effectively perceive and use the digital opportunities brought about by digital technologies and dynamic environments…

Abstract

Purpose

The purpose of this paper is to discuss how enterprises can effectively perceive and use the digital opportunities brought about by digital technologies and dynamic environments and how they can enhance their capabilities to realize digital transformation and adapt to the development of the digital economy era.

Design/methodology/approach

Based on the windows of opportunity theory and strategic cognition theory, this paper conducts an empirical analysis of the questionnaire data of 268 enterprises and discusses the influence of external windows of opportunity and internal windows of opportunity on the digital transformation of enterprises, as well as the action mechanism of strategic cognition and entrepreneurship.

Findings

The results show that both the external windows of opportunity and the internal windows of opportunity have significant positive effects on the digital transformation of enterprises. Strategic cognition plays a partial mediating role in the external windows of opportunity and the internal windows of opportunity influencing the enterprise digital transformation process. Entrepreneurship plays a positive regulatory role in the process of external windows of opportunity and internal windows of opportunity influencing strategic cognition.

Originality/value

This paper deepens the relationship between internal and external windows of opportunity and enterprise digital transformation and contributes a new theoretical cognition. This paper integrates the strategic cognition theory to clarify the complex process mechanism of digital transformation using external situational opportunities and internal capabilities. This paper introduces entrepreneurship into the path mechanism of digital transformation and expands the characteristics of the study of digital transformation antecedents to the individual level within the enterprise.

Details

Chinese Management Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-614X

Keywords

Article
Publication date: 12 February 2024

Huy Cuong Vo Thai, Trinh-Hoang Hong-Hue and My-Linh Tran

This study aims to investigate the relationship between dynamic capabilities and sustainable business performance in Vietnamese small- and medium-sized enterprises (SMEs)…

Abstract

Purpose

This study aims to investigate the relationship between dynamic capabilities and sustainable business performance in Vietnamese small- and medium-sized enterprises (SMEs), focusing on the mediating role of digitalization strategies. Specifically, the authors seek to explore whether and how the three critical characteristics of dynamic capabilities (DCs) – sensing, seizing and transforming capabilities – are linked to business model innovation (BMI) or sustained performance and what dimensions contribute to their development and adoption in digitalization strategies.

Design/methodology/approach

The authors analyse a sample of 596 Vietnamese SMEs using a validated measurement framework to explore the three clusters of DCs activities and their contributions to digitalization strategies, BMI and sustainable business performance across economic, social and environmental dimensions.

Findings

The study highlights the pivotal role of sensing, seizing and transforming capabilities in the adoption of digitalization strategies, BMI, as well as in promoting sustainable business performance. Firstly, sensing capability profoundly influences product digitalization strategy, whereas seizing capability has the greatest impact on process digitalization strategy. Secondly, sensing and transforming capabilities significantly contribute to BMI. Thirdly, both process and product digitalization strategies exert a significant positive influence on sustainable business performance, especially the environmental dimension. Finally, the study exhibits the indirect impacts of seizing and sensing capabilities on sustainable business performance through product and process digitization strategies.

Originality/value

This study extends recent research by investigating the DCs underlying a firm’s digitalization strategies and contribute to ongoing calls for further investigation in the DCs literature. This research design, which draws from a validated measurement framework, responds to recent calls to broaden the toolkit used in DCs research. The practical implications of this study can benefit SMEs in Vietnam and beyond as they seek to enhance their digitalization strategies and achieve sustainable competitive advantage.

Article
Publication date: 5 February 2024

Rafikul Islam, Kazi Md. Tarique and Siti Salwani Razali

The Takāful (Islamic insurance) industry operates on the principles of Maqāṣid al-Sharī’ah, and of late, the industry has witnessed significant market growth. The purpose of this…

Abstract

Purpose

The Takāful (Islamic insurance) industry operates on the principles of Maqāṣid al-Sharī’ah, and of late, the industry has witnessed significant market growth. The purpose of this study is to develop a performance measurement model based on Maqāṣid al-Sharī’ah to evaluate the performance of Takāful firms.

Design/methodology/approach

A mixed-method research approach was adopted to conduct the present study. Priorities were assigned to various dimensions of the Maqāṣid model using analytic hierarchy process and by taking inputs from 18 Takāful experts. On the contrary, six experts were involved in identifying the elements and measures for the operationalization of the Maqāṣid dimensions.

Findings

Maṣlaḥa (0.359) was found to possess the highest priority, followed by Justice (0.345) and Educating Individuals (0.295). Furthermore, under Necessity, protection of religion (0.398) and protection of life (0.388) are assigned almost similar priorities. These two are followed by the protection of progeny (0.107), protection of wealth (0.058) and protection of intellect (0.047). The final outcome of this study is a hierarchical model for the evaluation of performance of Takāful firms.

Practical implications

The application of the performance evaluation model will provide information to the management of Takāful firms on where they stand in terms of fulfilling Maqāṣid al-Sharī’ah principles. If any firms are found to have a deficiency in a certain part of Maqāṣid components, then proper and adequate measures can be taken to ameliorate the situation.

Originality/value

It is necessary to have a performance evaluation model based upon Maqāṣid al-Sharī’ah to evaluate the performance of Takāful firms as these firms operate on the principles of Maqāṣid al-Sharī’ah. Because there does not exist any such model, this study fills up this gap. Details of the measures that can be used to evaluate the performance of Takāful firms are also provided.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

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