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1 – 10 of 30This study explores the influence of the following factors on consumer adoption of blockchain food traceability (BFT): innovation-adoption characteristics, segmentation, expertise…
Abstract
Purpose
This study explores the influence of the following factors on consumer adoption of blockchain food traceability (BFT): innovation-adoption characteristics, segmentation, expertise in food traceability, expertise in blockchain technology, food categorical preferences and perceived important features of BFT.
Design/methodology/approach
The data was collected via an online questionnaire with 1,401 participants in New Zealand. Exploratory factor analysis, structural equation modelling and segmentation analysis were undertaken.
Findings
Consumer adoption of blockchain food traceability was significantly influenced by two innovation-adoption characteristics – perceived incentives and perceived complexity, as well as their expertise in food traceability. Two consumer segments were identified: Conservatives (48%) and Pioneers (52%). Significant differences were found between these two segments in terms of gender, age, education, occupation, residential area and ethnicity. Consumers are more willing to use BFT for purchasing fresh, imported, staple and normal foods than for processed, domestic and upscale foods. Their perceived important specific features of BFT are product origin, food safety information, quality control, food safety information, hygienic condition and scarcity management.
Originality/value
This study contributes knowledge to address the current knowledge gap regarding consumer adoption of blockchain food traceability by using a large sample set. It is also the first study to recognise consumer segments for BFT; to provide information about consumers' important socio-demographic characteristics, food categorical preferences and perceived important features towards BFT; and to explore the influences of consumers' innovation-adoption characteristics, expertise in food traceability and expertise in blockchain technology on their adoption of blockchain food traceability.
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Geeta Rani Duppati, Frank Scrimgeour and Albert Sune
This paper aims to examine the relevance of boards in driving firm level performance. For this purpose, it considers firms listed on Ireland and Spain stock exchanges for the…
Abstract
Purpose
This paper aims to examine the relevance of boards in driving firm level performance. For this purpose, it considers firms listed on Ireland and Spain stock exchanges for the period 2005 to 2014, over a period that includes the global financial crisis.
Design/methodology/approach
This study uses panel data regression analysis to analyse the effects of board characteristics on performance and also uses alternate model specifications to test the significance of robustness of relationships.
Findings
The impact of board size on performance is negative and significant for Irish and Spanish firms for the study period. In general, the board independence has a positive effect on the performance of Spanish firms for the complete study period and suggests consistency with the resource dependency theory.
Research limitations/implications
The analysis suggests that in general, the non-executive and the board size do not affect the corporate performance of Irish and Spanish firms during the financial crisis. The fixed effects model suggests positive effects of gender diversity on performance for Spanish firms, while the random effects indicates negative relationship between gender diversity and performance for Irish companies.
Practical implications
The evidence on the Spanish firms suggests that female representation on the boards may be critical during the financial crisis
Social implications
The quota legislation on female board representation in Spain is yielding superior results over the soft law approach by Irish firms during the times of financial crisis period.
Originality/value
This study contributes to the literature on the corporate governance practices and performance of two countries that were strongly affected by the crisis in the European Union. As governments increasingly contemplate board gender diversity policies, this study offers useful empirical insights on Spanish and Irish firms.
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This study explores impacts of innovation-adoption characteristics, food choice motives, segmentation and socio-demographics on consumer adoption of online-to-offline food…
Abstract
Purpose
This study explores impacts of innovation-adoption characteristics, food choice motives, segmentation and socio-demographics on consumer adoption of online-to-offline food delivery services (O2O-FDS) in a Western developed country – New Zealand – and an Asian developing country – China.
Design/methodology/approach
An online survey of 1,185 consumers provides data that the authors analyse using factor analyses, structural equation modelling and cluster analysis.
Findings
The following innovation-adoption characteristics and food choice motives have statistically significant effects on consumers' attitudes and/or purchase intentions towards O2O-FDS in the pooled sample and/or the samples of two countries: perceived incentive, perceived complexity, processed convenience, cheapness, taste appeal, safety-assured and purchase convenience. Three consumer segments are recognized: conservatives (26.6%), food-value seekers (40.8%) and pioneers (32.6%). Significant differences are found in marital status, age, household income, education level, household size, occupation, country and residential areas across the three segments.
Originality/value
This is the first study to systematically understand significant influencing factors for the O2O-FDS adoption by using a sample set composed of both Eastern and Western consumers.
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The widespread dietary adoption of cultured meat could provide important benefits to animal welfare, the environment, food safety and security. This study examines consumer…
Abstract
Purpose
The widespread dietary adoption of cultured meat could provide important benefits to animal welfare, the environment, food safety and security. This study examines consumer segmentation and consumer motives for choice of cultured meat in China.
Design/methodology/approach
The data were collected by means of a web-based questionnaire (n = 608) distributed in the two cites of Shanghai and Chengdu. Factor analysis, cluster analysis and path analysis were employed for data analysis.
Findings
Three consumer segments were identified with regard to the acceptance of cultured meat in China: Conservatives (25.7%), Acceptors (41.9%) and Pioneers (32.4%). Significant differences were recognised in age, household income, education and household size between the three consumer segments. The following meat choice motives (MCMs) have significant influences on Chinese participants’ attitudes and/or purchase intentions towards cultured meat: usually eat, environmental concern, societal concern, mood, purchase convenience and price.
Originality/value
This is the first study to develop a factorial construct of MCMs based on a previous theoretical model of food choice motives (FCMs) in China. The study contributes understanding of choice motives for cultured meat in a non-Western setting, particularly in China - the country consuming the largest quantity of pork. Further, this is the first study to recognise segments that are directly based on consumer attitudes and purchase intentions towards cultured meat. The findings of this study will help global producers and policymakers to create effective promotion strategies and policies for this innovative product in developing countries, particularly in China.
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Geeta Duppati, Frank Scrimgeour, Surachai Chancharat and Ploypailin Kijkasiwat
This paper aims to investigate how ethnic diversity and finance options impact the survival of small- and medium-sized enterprises (SMEs) in New Zealand.
Abstract
Purpose
This paper aims to investigate how ethnic diversity and finance options impact the survival of small- and medium-sized enterprises (SMEs) in New Zealand.
Design/methodology/approach
This study incorporates survey data and secondary data from the public domain. The surveys were conducted across six sectors of the economy categorised into four main ethnic groups involving six nationalities. This study adopts regression analysis using Probit, Logit and linear probability.
Findings
The financing choices of the entrepreneurs were consistent with pecking-order theory. The evidence suggests that information asymmetries are prevalent in New Zealand, as SMEs’ owners perceive significant risk from expanding businesses internationally. There is no relationship between ethnicity bias and the survival of firms.
Originality/value
This study provides a contribution to the literature on factors relating to business survival and guides the policymakers to use the benefits of potential factors to increase the survival rate of SMEs.
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Geeta Duppati, Anoop S. Kumar, Frank Scrimgeour and Leon Li
The purpose of this paper is to assess to what extent intraday data can explain and predict long-term memory.
Abstract
Purpose
The purpose of this paper is to assess to what extent intraday data can explain and predict long-term memory.
Design/methodology/approach
This article analysed the presence of long-memory volatility in five Asian equity indices, namely, SENSEX, CNIA, NIKKEI225, KO11 and FTSTI, using five-min intraday return series from 05 January 2015 to 06 August 2015 using two approaches, i.e. conditional volatility and realized volatility, for forecasting long-term memory. It employs conditional-generalized autoregressive conditional heteroscedasticity (GARCH), i.e. autoregressive fractionally integrated moving average (ARFIMA)-FIGARCH model and ARFIMA-asymmetric power autoregressive conditional heteroscedasticity (APARCH) models, and unconditional volatility realized volatility using autoregressive integrated moving average (ARIMA) and ARFIMA in-sample forecasting models to estimate the persistence of the long-term memory.
Findings
Given the GARCH framework, the ARFIMA-APARCH long-memory model gave the better forecast results signifying the importance of accounting for asymmetric information when modelling volatility in a financial market. Using the unconditional realized volatility results from the Singapore and Indian markets, the ARIMA model outperforms the ARFIMA model in terms of forecast performance and provides reasonable forecasts.
Practical implications
The issue of long memory has important implications for the theory and practice of finance. It is well-known that accurate volatility forecasts are important in a variety of settings including option and other derivatives pricing, portfolio and risk management.
Social implications
It could be said that using long-memory augmented models would give better results to investors so that they could analyse the market trends in returns and volatility in a more accurate manner and reach at an informed decision. This is useful to minimize the risks.
Originality/value
This research enhances the literature by estimating the influence of intraday variables on daily volatility. This is one of very few studies that uses conditional GARCH framework models and unconditional realized volatility estimates for forecasting long-term memory. The authors find that the methods complement each other.
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Kartick Gupta, Stuart Locke and Frank Scrimgeour
The analysis aims to explore how momentum return changes with alternative computational methods and the extent to which the portfolio structure is important in the momentum…
Abstract
Purpose
The analysis aims to explore how momentum return changes with alternative computational methods and the extent to which the portfolio structure is important in the momentum context.
Design/methodology/approach
The focus reflected in the prior research emphasises the method used by Jegadeesh and Titman and various extensions to test whether momentum returns exist. This study uses alternative methods of buying previous Winners and short‐selling previous Losers to determine if this significantly changes the returns.
Findings
The current study clarifies the impact of several contributory factors that impact upon estimated momentum returns. The large sample of cleaned data upon which this study is based provides a higher degree of confidence that the findings are sound and not just a statistical anomaly.
Practical implications
The research is important from a practitioner perspective as details of momentum return are presented for each country using different methods, providing information regarding the most profitable country in which to invest and whether the momentum return is sustainable under different formative approaches.
Originality/value
One of the important contributions of this study is a detailed empirical analysis, presenting results in a global context rather than on a single country basis.
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Krishna Reddy, Stuart Locke and Frank Scrimgeour
This paper seeks to address the effect that principle‐based corporate governance practices have on the financial performance of large publicly‐listed companies. In 2004, the New…
Abstract
Purpose
This paper seeks to address the effect that principle‐based corporate governance practices have on the financial performance of large publicly‐listed companies. In 2004, the New Zealand Securities Commission (NZSC) promulgated nine high level principles and guidelines for all business entities with an aim of improving corporate governance practices and boosting investor confidence in the New Zealand capital market. This event provides a point for empirically testing companies' responses.
Design/methodology/approach
Panel data for the NZX top 50 companies over the period 1999‐2007 are analysed using ordinary least squares (OLS) and two stage least squares (2SLS) regression techniques to evaluate whether: those firms that were continuously compliant with the NZSC requirements perform better; and the firm performance post‐NZSC recommendations is better than pre‐NZSC recommendations. Tobin's Q, market‐to‐book (MB) and return on assets (ROA) metrics are used as dependent variables..
Findings
The findings indicate that large listed companies have universally adopted the Securities Commission recommendations, establishing subcommittees for audit and remuneration, and having a majority of non‐executive/independent directors on the board which, on average, have seven members. There is support for the view that the NZSC recommendations have had positive influence on firm performance measured by Tobin's Q, MB and ROA. The results show that the presence of a remuneration committee has had a positive influence on firm performance.
Research limitations/implications
This study provides empirical support for the corporate governance recommendations made by the NZSC in 2004, giving support to the principle‐based corporate governance practices to be adopted in New Zealand. The sequential testing of each NZSC recommendation provides a comprehensive picture of performance outcomes which has not been achieved in prior research. The interdependency issues are of interest and the correlation between recommendations provides useful insights.
Originality/value
This study offers insights for policy makers interested in adopting principle‐based corporate governance practices within their country. Within New Zealand, public policy developments and stock exchange listing requirements/regulatory issues with associated compliance burdens are better informed as a consequence of the research.
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