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Article
Publication date: 19 April 2024

Anshu Agrawal

The study examines the IPO resilience grounded on the firm’s intrinsic factors.

Abstract

Purpose

The study examines the IPO resilience grounded on the firm’s intrinsic factors.

Design/methodology/approach

We examine the association of IPO performance and post-listing firm’s performance with issuers' pre-listing financial and qualitative traits using panel data regression.

Findings

IPOs floated in the Indian market from July 2009 to March 31, 2022, evince the notable influence of issuers' pre-IPO fundamentals and legitimacy traits on IPO returns and post-listing earning power. Where the pandemic’s favorable impact is discerned on the post-listing year earning power of the issuer firms, the loss-making issuers appear to be adversely affected by the Covid disruption. Perhaps, the successful listing equipped the issuers with the financial flexibility to combat market challenges vis-à-vis failed issuers deprived of desired IPO proceeds.

Research limitations/implications

High initial returns followed by a declining pattern substantiate the retail investors to be less informed vis-à-vis initial investors, valuers and underwriters, who exit post-listing after profit booking. Investing in the shares of the newly listed ventures post-listing in the secondary market can shield retail investors from the uncertainty losses of being uninformed. The IPO market needs stringent regulations ensuring the verification of the listing valuation, the firm’s credentials and the intent of utilizing IPO proceeds. Healthy development of the IPO market merits reconsidering the listing of ventures with weak fundamentals suspected to withstand the market challenges.

Originality/value

Given the tremendous rise in the new firm venturing into the primary market and the spike in IPOs countering the losses immediately post-opening, the study examines the loss-making and young firms IPOs separately, adding novelty to the study.

Details

Journal of Advances in Management Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0972-7981

Keywords

Article
Publication date: 11 April 2024

Ana Isabel Gaspar Pacheco, João Ferreira, Jorge Simoes, Pedro Mota Veiga and Marina Dabic

The commercialization of research produced by universities constitutes a core facet of academic entrepreneurship (AE). Academic literature reveals the need to shed light on…

Abstract

Purpose

The commercialization of research produced by universities constitutes a core facet of academic entrepreneurship (AE). Academic literature reveals the need to shed light on entrepreneurial processes in higher education institutions (HEIs). This study intends to fill this gap by researching the mechanisms for facilitating AE and the variables that can moderate the relationship between such mechanisms and AE in Portuguese HEIs.

Design/methodology/approach

Our research model aims to assess the mechanisms of academic entrepreneurship (AE) within a sample of 125 Portuguese public higher education institutions (HEIs). To test our research hypotheses, we employed a structural equation model (SEM) using the partial least squares (PLS) method. Additionally, our evaluation examines the potential moderating effects of incubator programs, support initiatives, and proof-of-concept programs (PoCs). Our research model seeks to evaluate the mechanisms for facilitating AE and explore the effects of including incubator programs, support initiatives, and PoCs as moderators. The seven variables (Research mobilization, Unconventionality, Industry collaboration, University policies, Incubator programs and support initiatives, Proof-of-concept programs, and academic entrepreneurship) were measured using a 7-point Likert scale.

Findings

The results revealed that different drivers of AE influence the creation and development of entrepreneurial activities. Our findings also show the moderating effects of incubator programs, support initiatives, and proof-of-concept programs on AE. We find that incubator programs, other support initiatives, and PoCs maintain a moderating effect on AE and benefit their respective HEIs.

Research limitations/implications

The study examines only the Portuguese HEI context. Therefore, generalizing these results necessitates reservations. However, the responses came from various actors in HEIs, from different academic backgrounds and research interests. This makes the results more generalizable. Limitations are evident in external validity, given that we gathered the data over a relatively short period.

Practical implications

Observed factors are explored to gain a deeper understanding of their influence on the mechanisms of AE. The implications arise from the new perspective presented and the methodology used to identify mechanisms capable of fostering AE. We hope this research will encourage other researchers to study this topic further.

Social implications

the engagement of universities at the global level should be emphasised in future policy. While universities in innovation systems often have a local focus, their engagement in innovation ecosystems transcends the boundaries of geographic locations.

Originality/value

PoCs had a significant positive moderating effect on the impact of research mobilization and university policies on AE. Thus, we find interactions between universities and industry boost AE. This study demonstrates how AE benefits HEIs by extending orientation towards mobilizing research, unconventional approaches, cooperation with industry, and university policy implementation. We thus advocate a new approach, demonstrating the influence that the mobility of research, unconventionality, industry collaboration, and university policies hold over AE.

Details

International Journal of Entrepreneurial Behavior & Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-2554

Keywords

Article
Publication date: 3 May 2024

Laetitia Gabay-Mariani, Bob Bastian, Andrea Caputo and Nikolaos Pappas

Entrepreneurs are generally considered to be committed in order to strive for highly desirable goals, such as growth or commercial success. However, commitment is a…

Abstract

Purpose

Entrepreneurs are generally considered to be committed in order to strive for highly desirable goals, such as growth or commercial success. However, commitment is a multidimensional concept and may have asymmetric relationships with positive or negative entrepreneurial outcomes. This paper aims to provide a nuanced perspective to show under what conditions commitment may be detrimental for entrepreneurs and lead to overinvestment.

Design/methodology/approach

Using a sample of entrepreneurs from incubators in France (N = 437), this study employs a configurational perspective, fuzzy-set qualitative comparative analysis (fsQCA), to identify which commitment profiles lead entrepreneurs to overinvest different resources in their entrepreneurial projects.

Findings

The paper exposes combinations of conditions that lead to overinvestment and identifies five different commitment profiles: an “Affective profile”, a “Project committed profile”, a “Profession committed profile”, an “Instrumental profile”, and an “Affective project profile”.

Originality/value

The results show that affective commitment is a necessary condition for entrepreneurs to conduct overinvesting behaviors. This complements previous linear research on the interdependence between affect and commitment in fostering detrimental outcomes for nascent entrepreneurs.

Details

International Journal of Entrepreneurial Behavior & Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-2554

Keywords

Article
Publication date: 7 May 2024

Sundas Hussain, Natalia Vershinina and Charlotte Carey

The link between entrepreneurial intention and positive attitudes towards entrepreneurship for established and nascent entrepreneurs has been well documented in the extant…

Abstract

Purpose

The link between entrepreneurial intention and positive attitudes towards entrepreneurship for established and nascent entrepreneurs has been well documented in the extant literature, with the theory of planned behaviour (TPB) viewing entrepreneurial intention as a pre-requisite for entrepreneurial pursuit. Whilst scholars generally agree on these insights, little empirical evidence exists on how marginalised social groups can convert their intentions into action. This study aims to understand to what extent the elements of TPB, the attitudes towards entrepreneurship, self-efficacy and subjective norms, help explain the emergence of entrepreneurial activity amongst marginalised demographic groups.

Design/methodology/approach

This research focuses on unemployed women residing in social housing located in a deprived urban area of the United Kingdom to empirically examine how multiple layers of disadvantage faced by this group shape their motivations and intentions for entrepreneurial pursuit. A multi-source qualitative methodology was adopted, drawing upon inductive storytelling narratives and extensive fieldwork on a sample of unemployed ethnic minority women residing in social housing in a deprived urban area of the United Kingdom. Community organisation representatives and housing association employees within the social housing system were included to assess the interpretive capacity of TPB.

Findings

The findings display that TPB illuminates why and how marginalised groups engage in entrepreneurship. Critically, women’s entrepreneurial intentions emerge as a result of their experiences of multiple layers of disadvantage, their positionality and the specificity of few resources they can activate from their disadvantageous position for entrepreneurial activity.

Originality/value

By illuminating the linkages between marginalised women’s positionality and their associated access to the limited pool of resources using the TPB lens, this study contributes to emerging works on disadvantaged populations and entrepreneurial intention-action debate. This work posits that despite facing significant additional challenges through their positionality and reduced ability to mobilise resources, women in social housing can defy the odds and develop ways to overcome limited capacity and structural disadvantage.

Details

International Journal of Entrepreneurial Behavior & Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-2554

Keywords

Open Access
Article
Publication date: 7 May 2024

Etikah Karyani, Ira Geraldina, Marissa Grace Haque and Ahmad Zahir

Halal certification is an acknowledgment of the halalness of a product or service issued by a halal regulator based on Islamic law. This study aims to investigate the intentions…

Abstract

Purpose

Halal certification is an acknowledgment of the halalness of a product or service issued by a halal regulator based on Islamic law. This study aims to investigate the intentions of consumers and regulators toward blockchain-based halal certification. Blockchain is useful for storing and verifying halal certificates, thereby increasing trust in products or services because the public cannot change or access data once it is stored.

Design/methodology/approach

This study uses a triangulation approach by distributing online questionnaires to consumers as a research instrument of a quantitative approach processed with smart partial least squares. Meanwhile, the qualitative approach is carried out through observation, in-depth interviews with the Ministry of Religion’s Halal Product Assurance Organizing Agency (BPJPH) and Halal Examination Agency (LPH), and forum group discussions (FGDs) with several related parties.

Findings

The observation results show that most consumers expect the government to provide an easy-to-use application to check halal food products and restaurants. Consumers’ intention to use this technology is influenced directly by attitudes and indirectly by their beliefs. Furthermore, the results of interviews and FGDs reported that LPH was not ready to apply blockchain technology, while BPJPH strongly supported adopting blockchain technology in the certification process.

Practical implications

This finding recommends that the Indonesian government apply blockchain technology to gain transparency and accountability regarding the halal product process.

Originality/value

This study fills the research gap by observing three perspectives from different stakeholders and using a triangulation approach to analyze the need for adoption of blockchain-based halal certification of halal food products.

Details

Journal of Islamic Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 7 May 2024

Joanna Maria Szulc

Neurodivergent employees have atypical needs that require distinctive leadership approaches. In this study, the specific nature of a relationship between neurodivergent employees…

Abstract

Purpose

Neurodivergent employees have atypical needs that require distinctive leadership approaches. In this study, the specific nature of a relationship between neurodivergent employees and their neurotypical leaders is explored through the lens of the leader–member exchange (LMX) theory.

Design/methodology/approach

This two-phased qualitative study builds on 12 semi-structured interviews with neurodivergent employees and an unstructured focus group with 15 individuals with professional and/or personal interest in neurodiversity. The researcher spent almost 13 h listening to the lived experiences of research participants concerning neurodiversity and leadership.

Findings

Leaders who exhibit empathy and understanding were noted to provide greater support. The findings also highlight the complexity of neuro-inclusion in the workplace. Specifically, the delicate balance between accommodation and avoiding stigmatization is emphasized, addressing the concerns raised regarding the legal risks associated with neurodivergent inclusion. Additionally, the findings underscore the necessity for leaders to avoid patronizing behaviors while catering to the diverse needs of neurodivergent employees. This underscores the importance of supporting both neurodivergent employees and leaders navigating such challenges.

Practical implications

The findings help establish inclusive and accommodating employee relations practices that conscientiously address the requirements of neurodivergent employees while providing support for those in leadership roles.

Originality/value

This study constitutes a direct answer to recent calls to develop a more nuanced understanding of workplace neurodiversity, with a specific focus on neuro-inclusive leadership. Acknowledging that we still use inappropriate, old tools in new situations that require novel approaches to leadership helps set the agenda for future research in this area.

Details

Employee Relations: The International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0142-5455

Keywords

Article
Publication date: 1 May 2024

Rakesh Kumar, Vibhuti Tripathi, Vibha Yadav, Gaurav Ashesh and Richa Mehrotra

The study seeks to explore why despite growing concern for the environment, consumers’ intention to purchase organic foods remains relatively low. In addition, the study also…

Abstract

Purpose

The study seeks to explore why despite growing concern for the environment, consumers’ intention to purchase organic foods remains relatively low. In addition, the study also seeks to investigate the role of perceived marketplace influence (PMI) and moral norms in organic food consumption.

Design/methodology/approach

Data collected from 330 young consumers chosen with non-probability sampling were analysed using structural equation modelling in Amos 22.0.

Findings

The results of the parallel mediation analysis confirmed that environmental concern influences purchase intention indirectly through attitude, subjective norms, perceived behavioural control and perceived marketplace influence. In addition, moral norms were found to moderate the effect of perceived behavioural control on purchase intention. Moreover, the results also indicated that the impact of environmental concern on consumers’ attitude toward organic foods was also moderated by moral norms. Further, the results of moderated mediation showed that the indirect effect of environmental concern on purchase intention (through attitude and perceived behavioural control) was moderated by moral norms.

Research limitations/implications

The study contributes to the existing literature by investigating the inconsistency between environmental concern and purchase intention. In addition, the study also investigate role of perceived marketplace influence and moral norms in stimulating organic food consumption intentions.

Practical implications

The emergence of perceived marketplace influence as an important determinant of organic food consumption shows that every individual needs to realise the importance of their environment friendly actions to promote organic food consumption. In addition, the study also highlights the pivotal role of moral norms in the promotion of organic food consumption. Thus, markets, policy-makers, family, friends, society all should promote and inculcate the spirit of contributing in the cause of safeguarding the environment to the young children specially by promoting consumption of organic foods.

Originality/value

The study examines the role of perceived marketplace influence as predictor of purchase intention towards organic foods which is rarely explored specially in the domain of organic food consumption. In addition, the results also produced some novel insights into the moderating role of moral norms.

Details

Management of Environmental Quality: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1477-7835

Keywords

Article
Publication date: 16 April 2024

Henrik Dibowski

Adequate means for easily viewing, browsing and searching knowledge graphs (KGs) are a crucial, still limiting factor. Therefore, this paper aims to present virtual properties as…

Abstract

Purpose

Adequate means for easily viewing, browsing and searching knowledge graphs (KGs) are a crucial, still limiting factor. Therefore, this paper aims to present virtual properties as valuable user interface (UI) concept for ontologies and KGs able to improve these issues. Virtual properties provide shortcuts on a KG that can enrich the scope of a class with other information beyond its direct neighborhood.

Design/methodology/approach

Virtual properties can be defined as enhancements of shapes constraint language (SHACL) property shapes. Their values are computed on demand via protocol and RDF query language (SPARQL) queries. An approach is demonstrated that can help to identify suitable virtual property candidates. Virtual properties can be realized as integral functionality of generic, frame-based UIs, which can automatically provide views and masks for viewing and searching a KG.

Findings

The virtual property approach has been implemented at Bosch and is usable by more than 100,000 Bosch employees in a productive deployment, which proves the maturity and relevance of the approach for Bosch. It has successfully been demonstrated that virtual properties can significantly improve KG UIs by enriching the scope of a class with information beyond its direct neighborhood.

Originality/value

SHACL-defined virtual properties and their automatic identification are a novel concept. To the best of the author’s knowledge, no such approach has been established nor standardized so far.

Details

International Journal of Web Information Systems, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1744-0084

Keywords

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