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1 – 10 of 79Using a GED-GARCH model to estimate monthly data from January 1990 to February 2022, we test whether gold acts as a hedge or safe haven asset in 10 countries. With a downturn of…
Abstract
Using a GED-GARCH model to estimate monthly data from January 1990 to February 2022, we test whether gold acts as a hedge or safe haven asset in 10 countries. With a downturn of the stock market, gold can be viewed as a hedge and safe haven asset in the G7 countries. In the case of inflation, gold acts as a hedge and safe haven asset in the United States, United Kingdom, Canada, China, and Indonesia. For currency depreciation, oil price shock, economic policy uncertainty, and US volatility spillover, evidence finds that gold acts as a hedge and safe haven for all countries.
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Sıddık Bozkurt, David Gligor, Linda D. Hollebeek and Cameron Sumlin
This article explores how firms' unresponsiveness to Black customer feedback influences Black (vs. White) customers' perceived firm-based discrimination and brand engagement.
Abstract
Purpose
This article explores how firms' unresponsiveness to Black customer feedback influences Black (vs. White) customers' perceived firm-based discrimination and brand engagement.
Design/methodology/approach
Two experimental studies (Study 1(N1) = 254) and Study 1(N2) = 484) are conducted to test the modeled relationships. The data are analyzed using ANOVA, PROCESS Model 4 and PROCESS Model 7.
Findings
The findings suggest that though perceived discrimination remains modest in all conditions, Black (vs. White) respondents report higher perceived discrimination when the firm fails to respond to a Black customer's negative or neutral (but not positive) brand-related feedback on social media. The results also indicate that Black (vs. White) customers exhibit lower engagement through perceived discrimination in the case of the firm's unresponsiveness to a Black customer's negative and neutral (but not positive) brand-related feedback regardless of the manager's race.
Originality/value
Prior research on intercultural service encounters and ethnic differences in consumer engagement on social media are combined to examine the relationship between customer race and perceived discrimination based on the firm's unresponsiveness to customers' social media posts.
Research limitations/implications
Manipulations were created based on a fictitious e-tailer. Thus, it is recommend that future researchers examine the extent to which the findings hold for existing (r)etailers. In addition, future studies using secondary data could provide additional evidence for the findings.
Practical implications
Managerial attention is accentuated among customer feedback responsiveness, engagement and perceived firm discrimination. Managers are encouraged to adopt communication strategies that complement the firm's strategy and social media presence.
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David P. Wood, Rajan Nathan, Catherine A. Robinson and Rebecca McPhillips
The current national patient safety strategy for the National Health Service (NHS) in England states that actions need to be taken to support the development of a patient safety…
Abstract
Purpose
The current national patient safety strategy for the National Health Service (NHS) in England states that actions need to be taken to support the development of a patient safety culture. This includes that local systems should seek to understand staff perceptions of the fairness and effectiveness of serious incident management. This study aims to explore the perspectives of patient safety professionals about what works well and what could be done better to support a patient safety culture at the level of Trust strategy and serious incident governance.
Design/methodology/approach
A total of 15 professionals with a role in serious incident management, from five mental health trusts in England, were interviewed using a semi-structured interview guide. Thematic analysis and qualitative description were used to analyse the data.
Findings
Participants felt that actions to support a patient safety culture were challenging and required long-term and clinical commitment. Broadening the scope of serious incident investigations was felt to be one way to better understand patient safety culture issues. Organisational influences during the serious incident management process were highlighted, informing approaches to maximise the fairness and objectivity of investigation findings.
Originality/value
The findings of this study offer original insights that the NHS safety system can use to facilitate progression of the patient safety culture agenda. In particular, local mental health trusts could consider the findings in the context of their current strategic objectives related to patient safety culture and operational delivery of serious incident management frameworks.
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Sucharita Maji, Nidhi Yadav and Pranjal Gupta
The inclusion of LGBTQ + persons (lesbian, gay, bisexual, transgender, queer and having other sexual orientations and gender identities) is a crucial step in improving gender…
Abstract
Purpose
The inclusion of LGBTQ + persons (lesbian, gay, bisexual, transgender, queer and having other sexual orientations and gender identities) is a crucial step in improving gender diversity in the workplace; however, till date, it remains a significant challenge for human resource management professionals. The current study critically examines this issue of an inclusive workplace for LGBTQ + people through a systematic review of the existing research that has empirically studied their experiences at the workplace. It also examines the resistance and challenges organizations face in LGBTQ + diversity training and provides future research avenues.
Design/methodology/approach
For systematically reviewing the literature, Preferred Reporting Items for Systematic reviews and Meta-Analyses (PRISMA) model has been used. A total of 101 empirical studies have been reviewed.
Findings
The result shows that LGBTQ + people encounter multiple negative workplace experiences, including proximal (hiring discrimination and housing discrimination) and distal workplace discrimination (unsafe work climate, microaggressions and harassment). These aversive experiences lead to work stress while also mandating that people manage their sexual identity and style of dressing. This stress, in turn, impacts their work–family outcomes, job satisfaction and decision-making with regard to their careers.
Originality/value
The paper provides a holistic understanding of the aversive workplace experiences encountered by sexual minorities.
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The purpose of this study is to investigate characteristics of apparel-related critical incidents that motivate both Generation Z and Y consumers to share electronic word-of-mouth…
Abstract
Purpose
The purpose of this study is to investigate characteristics of apparel-related critical incidents that motivate both Generation Z and Y consumers to share electronic word-of-mouth (eWOM) via specific online channels.
Design/methodology/approach
The current research used an exploratory mixed-methods approach.
Findings
Qualitative findings of critical incidents revealed that the main situations that led to the spread of eWOM involved new purchases (49%), product quality (21%), pricing and promotions (19%), complaints (9%) and brand content (48%). Participants were motivated to spread information about the critical incidents by a desire to connect with friends and family (83%), help others (37%), influence others (48%) and express brand loyalty (32%). Quantitative results indicated significant relationships between critical incidents, motivations and eWOM channel choice.
Research limitations/implications
This study has theoretical implications for apparel researchers attempting to gain insight into critical incidents that motivate consumers to engage in eWOM on specific channels in a positive or negative manner.
Practical implications
These findings are important for marketers as it appears that brand content does an efficient job at driving engagement on SM; marketers need to increase efforts to engage with consumers via feedback on websites, as this is an opportunity to counteract negative experiences and retain consumers’ loyalty.
Originality/value
To the best of the authors’ knowledge, the current research is the first to extend theories of communication and motivation to connect critical incidents with situational intrinsic and extrinsic motivations for spreading eWOM via online channels for Millennial and Generation Z consumers.
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Kathrine Anne Minzlaff, Stephen Palmer and Annette Fillery-Travis
This paper aims to provide readers with a comprehensive overview of the current state of the millennial literature, highlighting the significance and challenges of millennial…
Abstract
Purpose
This paper aims to provide readers with a comprehensive overview of the current state of the millennial literature, highlighting the significance and challenges of millennial professionals, their reported high turnover and the various recommendations designed to engage and retain them.
Design/methodology/approach
An integrated review approach was applied to synthesise contemporary peer-reviewed articles, supplemented by legacy and grey literature and relevant book chapters, to comprehensively explore and construct a cohesive overview of the current research on the millennial workforce.
Findings
Within the wealth of available information, examining the various studies on millennial turnover reveals diverse theories, evidence and opportunities for advancement, underscoring the necessity for more robust empirical studies. The investigation identified three overarching retention strategy themes: (1) intergenerational conflict management, (2) workplace adaptations and (3) solutions rooted in a protean career orientation. In alignment with protean career concepts, coaching shows promise as an underexplored option.
Practical implications
This article holds practical significance by offering researchers a comprehensive and cohesive overview of the millennial literature. Additionally, it gives organisations a novel perspective on the crucial role coaching can play in engaging and retaining millennial employees.
Originality/value
The increased focus on retaining millennial workers in recent decades has spurred a proliferation of articles and books on this subject. However, this body of research remains fragmented, lacking an overview that provides a clear picture of its current state. This review aims to bridge this gap.
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Christopher McMahon and Peter Templeton
This introduction provides the methodological framework for the book, approaching the business of football through the lens of its most reliable consumers – the fanbase. Fan…
Abstract
This introduction provides the methodological framework for the book, approaching the business of football through the lens of its most reliable consumers – the fanbase. Fan cultures necessarily inform the normative understanding of a football club, due to the popularly held belief that it is the fan’s – or some reified idea of the fan – that is the permanent feature of a football club and that provides its identity. Players and owners come and go, but the relationship between the club and the fan is, theoretically, never-ending. In truth, this is never a real fan who could exist, but a constructed image of the fan built out of other narratives and that, at some level, football fans associate themselves. This fan is no one in particular, but is drawn from a close reading of football culture and identifying the directives of the traditional fan. Utilising a combination of critical theory and the existing literature on football club ownership, our goal is to reveal the distinction between how people talk about the social dimension of football clubs, and how they actually relate to their fans and the wider world in the era of late capitalism. A club is not simply the romanticised notions held by those within the games, but, as with all businesses, it is also the product of it conducts itself in a series of other networks of exchange. Often irreconcilable with the aforementioned romantic notions, these networks often get hidden by the prevailing discourse.
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Matthew M. Lastner, David A. Locander, Michael Pimentel, Andrew Pueschel, Wyatt A. Schrock, George D. Deitz and Adam Rapp
This study aims to examine the applicability of Hartmann et al.’s (2018) service ecosystem framework to the day-to-day management of the modern sales force. The authors provide a…
Abstract
Purpose
This study aims to examine the applicability of Hartmann et al.’s (2018) service ecosystem framework to the day-to-day management of the modern sales force. The authors provide a review of the framework, acknowledging its strengths, while also indicating areas for advancement. The authors conclude with recommendations to the framework and indicate opportunities where future research could advance sales theory.
Design/methodology/approach
A review of the theoretical underpinnings of the service ecosystem framework is weighed against the established roles and responsibilities of the modern sales force in the literature.
Findings
The ability of the framework to capture the multi-level, multi-actor and dynamic aspects of sales represents an improvement in the conceptualization of selling is critical. Suggestions around the refinement for meso-level sales interactions and a more pliant application of service dominant-logic are offered.
Research limitations/implications
The suggested extensions of the framework continue the advancement of novel theorization for the field of sales. Priorities for future research include consideration of ethical implications of the framework and formulations of new management strategies reflective of the broad and dynamic properties of the ecosystem conceptualization.
Practical implications
This paper provides managerial guidelines and implications tied specifically to the thick and thin crossing points and how they may impact employee decision-making.
Originality/value
To the best of the authors’ knowledge, this study is the first to pointedly examine the service ecosystem framework with respect to established principles of managing a modern sales force.
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Zaifeng Wang, Tiancai Xing and Xiao Wang
We aim to clarify the effect of economic uncertainty on Chinese stock market fluctuations. We extend the understanding of the asymmetric connectedness between economic uncertainty…
Abstract
Purpose
We aim to clarify the effect of economic uncertainty on Chinese stock market fluctuations. We extend the understanding of the asymmetric connectedness between economic uncertainty and stock market risk and provide different characteristics of spillovers from economic uncertainty to both upside and downside risk. Furthermore, we aim to provide the different impact patterns of stock market volatility following several exogenous shocks.
Design/methodology/approach
We construct a Chinese economic uncertainty index using a Factor-Augmented Variable Auto-Regressive Stochastic Volatility (FAVAR-SV) model for high-dimensional data. We then examine the asymmetric impact of realized volatility and economic uncertainty on the long-term volatility components of the stock market through the asymmetric Generalized Autoregressive Conditional Heteroskedasticity-Mixed Data Sampling (GARCH-MIDAS) model.
Findings
Negative news, including negative return-related volatility and higher economic uncertainty, has a greater impact on the long-term volatility components than positive news. During the financial crisis of 2008, economic uncertainty and realized volatility had a significant impact on long-term volatility components but did not constitute long-term volatility components during the 2015 A-share stock market crash and the 2020 COVID-19 pandemic. The two-factor asymmetric GARCH-MIDAS model outperformed the other two models in terms of explanatory power, fitting ability and out-of-sample forecasting ability for the long-term volatility component.
Research limitations/implications
Many GARCH series models can also combine the GARCH series model with the MIDAS method, including but not limited to Exponential GARCH (EGARCH) and Threshold GARCH (TGARCH). These diverse models may exhibit distinct reactions to economic uncertainty. Consequently, further research should be undertaken to juxtapose alternative models for assessing the stock market response.
Practical implications
Our conclusions have important implications for stakeholders, including policymakers, market regulators and investors, to promote market stability. Understanding the asymmetric shock arising from economic uncertainty on volatility enables market participants to assess the potential repercussions of negative news, engage in timely and effective volatility prediction, implement risk management strategies and offer a reference for financial regulators to preemptively address and mitigate systemic financial risks.
Social implications
First, in the face of domestic and international uncertainties and challenges, policymakers must increase communication with the market and improve policy transparency to effectively guide market expectations. Second, stock market authorities should improve the basic regulatory system of the capital market and optimize investor structure. Third, investors should gradually shift to long-term value investment concepts and jointly promote market stability.
Originality/value
This study offers a novel perspective on incorporating a Chinese economic uncertainty index constructed by a high-dimensional FAVAR-SV model into the asymmetric GARCH-MIDAS model.
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Dorra Messaoud and Anis Ben Amar
Based on the theoretical framework, this paper analyzes the sentiment-herding relationship in emerging stock markets (ESMs). First, it aims to examine the effect of investor…
Abstract
Purpose
Based on the theoretical framework, this paper analyzes the sentiment-herding relationship in emerging stock markets (ESMs). First, it aims to examine the effect of investor sentiment on herding. Second, it seeks the direction of causality between sentiment and herding time series.
Design/methodology/approach
The present study applies the Exponential Generalized Auto_Regressive Conditional Heteroskedasticity (EGARCH) model to capture the volatility clustering of herding on the financial market and to investigate the role of the investor sentiment on herding behaviour. Then the vector autoregression (VAR) estimation uses the Granger causality test to determine the direction of causality between the investor sentiment and herding. This study uses a sample consisting of stocks listed on the Shanghai Composite index (SSE) (348 stocks), the Jakarta composite index (JKSE) (118 stocks), the Mexico IPC index (14 stocks), the Russian Trading System index (RTS) (12 stocks), the Warsaw stock exchange General index (WGI) (106 stocks) and the FTSE/JSE Africa all-share index (76 stocks). The sample includes 5,020 daily observations from February 1, 2002, to March 31, 2021.
Findings
The research findings show that the sentiment has a significant negative impact on the herding behaviour pointing out that the higher the investor sentiment, the lower the herding. However, the results of the present study indicate that a higher investor sentiment conducts a higher herding behaviour during market downturns. Then the outcomes suggest that during the crisis period, the direction is one-way, from the investor sentiment to the herding behaviour.
Practical implications
The findings may have implications for universal policies of financial regulators in EMs. We have found evidence that the Emerging investor sentiment contributes to the investor herding behaviour. Therefore, the irrational investor herding behaviour can increase the stock market volatility, and in extreme cases, it may lead to bubbles and crashes. Market regulators could implement mechanisms that can supervise the investor sentiment and predict the investor herding behaviour, so they make policies helping stabilise stock markets.
Originality/value
The originality of this paper lies in investigate the sentiment-herding relationship during the Surprime crisis and the Covid-19 epidemic in the EMs.
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