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Article
Publication date: 6 November 2023

Fatma Hariz, Taicir Mezghani and Mouna Boujelbène Abbes

This paper aims to analyze the dependence structure between the Green Sukuk Spread in Malaysia and uncertainty factors from January 1, 2017, to May 23, 2023, covering two main…

Abstract

Purpose

This paper aims to analyze the dependence structure between the Green Sukuk Spread in Malaysia and uncertainty factors from January 1, 2017, to May 23, 2023, covering two main periods: the pre-COVID-19 and the COVID-19 periods.

Design/methodology/approach

This study contributes to the current literature by explicitly modeling nonlinear dependencies using the Regular vine copula approach to capture asymmetric characteristics of the tail dependence distribution. This study used the Archimedean copula models: Student’s-t, Gumbel, Gaussian, Clayton, Frank and Joe, which exhibit different tail dependence structures.

Findings

The empirical results suggest that Green Sukuk and various uncertainty variables have the strongest co-dependency before and during the COVID-19 crisis. Due to external uncertainties (COVID-19), the results reveal that global factors, such as the Infect-EMV-index and the higher financial stress index, significantly affect the spread of Green Sukuk. Interestingly, in times of COVID-19, its dependence on Green Sukuk and the news sentiment seems to be a symmetric tail dependence with a Student’s-t copula. This result is relevant for hedging strategies, as investors can enhance the performance of their portfolio during the COVID-19 crash period.

Originality/value

This study contributes to a better understanding of the dependency structure between Green Sukuk and uncertainty factors. It is relevant for market participants seeking to improve their risk management for Green Sukuk.

Details

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

Keywords

Article
Publication date: 6 February 2024

Ramakrishna Gollagari, Temesgen Birega and Santap Sanhari Mishra

Organizational justice and its impact on employee commitment have received a lot of attention these days. The objective of this study is to see the effect of job satisfaction as a…

Abstract

Purpose

Organizational justice and its impact on employee commitment have received a lot of attention these days. The objective of this study is to see the effect of job satisfaction as a mediator in the relationship between organizational justice and employee commitment. Also, the role of academic rank as a moderator in the model is probed.

Design/methodology/approach

A moderating mediation structural equation model was used for randomly collected cross-section data on 285 employees from public universities in Ethiopia. Necessary condition analysis (NCA) was employed to check the importance of the variables. The Gaussian copula approach was used to check endogeneity in the structural model.

Findings

NCA confirms the importance of organizational justice and employee satisfaction as the independent variables. The Gaussian copula approach reveals no endogeneity problems in the structural model. The results supported the partial mediating role of job satisfaction in organizational justice and academic staff’s commitment. Moreover, though staff rank is not a necessary condition, it plays the role of moderator in the relationship between academic staff’s job satisfaction and commitment.

Practical implications

This paper affirms that public institutions must implement fair initiatives and procedures to promote academic staff satisfaction and commitment.

Originality/value

This is the first study to check the job rank as a moderator in the model comprising organization justice, employee commitment and satisfaction. Moreover, application of NCA and Gaussian copula adds to methodological innovation.

Details

African Journal of Economic and Management Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-0705

Keywords

Article
Publication date: 28 February 2023

Walid Mensi, Waqas Hanif, Elie Bouri and Xuan Vinh Vo

This paper examines the extreme dependence and asymmetric risk spillovers between crude oil futures and ten US stock sector indices (consumer discretionary, consumer staples…

Abstract

Purpose

This paper examines the extreme dependence and asymmetric risk spillovers between crude oil futures and ten US stock sector indices (consumer discretionary, consumer staples, energy, financials, health care, industrials, information technology, materials, telecommunication and utilities) before and during COVID-19 outbreak. This study is based on the rationale that stock sectors exhibit heterogeneity in their response to oil prices depending on whether they are classified as oil-intensive or non-oil-intensive sectors and the possible time variation in the dependence and risk spillover effects.

Design/methodology/approach

The authors employ static and dynamic symmetric and asymmetric copula models as well as Conditional Value at Risk (VaR) (CoVaR). Finally, they use robustness tests to validate their results.

Findings

Before the COVID-19 pandemic, crude oil returns showed an asymmetric tail dependence with all stock sector returns, except health care and industrials (materials), where an average (symmetric tail) dependence is identified. During the COVID-19 pandemic, crude oil returns exhibit a lower tail dependency with the returns of all stock sectors, except financials and consumer discretionary. Furthermore, there is evidence of downside and upside risk asymmetric spillovers from crude oil to stock sectors and vice versa. Finally, the risk spillovers from stock sectors to crude oil are higher than those from crude oil to stock sectors, and they significantly increase during the pandemic.

Originality/value

There is heterogeneity in the linkages and the asymmetric bidirectional systemic risk between crude oil and US economic sectors during bearish and bullish market conditions; this study is the first to investigate the average and extreme tail dependence and asymmetric spillovers between crude oil and US stock sectors.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 3 November 2023

Ana Botella-Andreu, Cristina Villar, José Pla-Barber and Ulf Andersson

This study aims to investigate the drivers of political embeddedness and the possible outcome in terms of autonomy and subsidiary unique competences.

Abstract

Purpose

This study aims to investigate the drivers of political embeddedness and the possible outcome in terms of autonomy and subsidiary unique competences.

Design/methodology/approach

This study draws on resource dependence theory and applies structural equation modeling on a sample of 193 subsidiaries.

Findings

Political embeddedness is confirmed as a source of potential autonomy and the development of competences and is usually boosted by previous existing networks at the internal and external levels.

Originality/value

The authors investigate and discuss how multinational corporations can leverage political resources in host-country political arenas, extending their understanding of the interplay between political activities and market strategies.

Details

European Business Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0955-534X

Keywords

Article
Publication date: 8 June 2023

Rupak Rauniar, Greg Rawski, Qing Ray Cao and Samhita Shah

Drawing upon a systematic literature review in new technology, innovation transfer and diffusion theories, and from interviews with technology leaders in digital transformation…

Abstract

Purpose

Drawing upon a systematic literature review in new technology, innovation transfer and diffusion theories, and from interviews with technology leaders in digital transformation programs in the US Oil & Gas (O&G) industry, the authors explore the relationships among O&G industry dynamics, organization's absorptive capacity and resource commitment for new digital technology adoption-implementation process.

Design/methodology/approach

The authors employed the empirical survey method to gather the data (a sample size of 172) in the US O&G industry and used structural equation modeling (SEM) to test the measurement model for validity and reliability and the conceptual model for hypothesized structural relationships.

Findings

The results provide support for the study’s causal model of adoption and implementation with positive and direct relationships between the initiation and trial stages, between the trial stages and the evaluation of effective outcomes and between the effective outcomes and the effective implementation stages of digital technologies. The results also reveal partial mediating relationships of industry dynamics, absorptive capacity and resource commitment between respective stages.

Practical implications

Based on the current study's findings, managers are recommended to pay attention to the evolving industry dynamics during the initiation stage of new digital technology adoption, to utilize the organization's knowledge-based absorptive capacity during digital technology trial and selection stages and to support the digital technology implementation project when the adoption decision of a particular digital technology has been made.

Originality/value

The empirical research contributes literature on digital technology adoption and implementation by identifying and demonstrating the importance of industry dynamics, absorptive capacity and resource commitment factors as mediating variables at various stages of the adoption-implementation process and empirically validating a process-based causal model of digital technology adoption and a successful implementation project that has been missing in the current body of literature on digital transformation.

Details

Journal of Enterprise Information Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1741-0398

Keywords

Article
Publication date: 12 September 2023

Gopal Subedi, Laxman Pokhrel and Dinesh Basnet

Drawing on social identity, signalling and stakeholder theories, this paper aims to examine corporate reputation’s (CR) mediating role concerning corporate social responsibility…

Abstract

Purpose

Drawing on social identity, signalling and stakeholder theories, this paper aims to examine corporate reputation’s (CR) mediating role concerning corporate social responsibility (CSR) and customer loyalty (CL) among Generation Z customers of Nepali commercial banks.

Design/methodology/approach

The research applied a cross-sectional survey research design to collect data from 281 customers of Nepali commercial banks. The study used a purposive sampling method to reach the respondents and partial least squares structural equation model was used to test the hypotheses.

Findings

The results reveal that CSR significantly influences CR and CL. Likewise, CR positively influences CL. Moreover, CR partially mediates the relationship between CSR and CL. It implies that CSR and CR are critical variables for CL among Generation Z customers of Nepali commercial banks.

Practical implications

This study focuses on understanding the importance of CSR to Nepalese commercial bank managers to create a better customer base by focusing on the CSR dimensions, i.e. economic, environmental and social. It adds to the literature on the theoretical aspect of the study of CSR, particularly in the banking industry.

Originality/value

It has initially investigated CSR as a higher-order construct to explain the meditational mechanism of CR concerning CSR and CL. Moreover, the study examined the issue of endogeneity.

Details

International Journal of Organizational Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1934-8835

Keywords

Article
Publication date: 28 March 2023

Huan Liu, Shuman Zheng and Dongjin Li

Product discounts have been widely applied in digital commerce as a method to attract and retain customers to purchase in China. Given that digital channels differ in their…

Abstract

Purpose

Product discounts have been widely applied in digital commerce as a method to attract and retain customers to purchase in China. Given that digital channels differ in their attributes, customers may behave differently when they respond to the same discount across channels. However, little attention has been paid to explore the heterogeneity of customer responses to discounts across channels. This study aims to fill in the gap by exploring how customers’ purchase responses to price discounts differ across digital channels.

Design/methodology/approach

This study applies a Poisson regression to an unbalanced data set of purchasing history from Chinese footwear brands with 3,510 customers in a two-year time window across the three digital channels (i.e. personal computer [PC], app and mobile website), with a correction for endogeneity by using the Gaussian copula method.

Findings

This paper finds that price discounts have the strongest positive effect on consumers’ purchase volumes on the PC channel, followed by the app channel, while discounts show the weakest impact in the mobile website channel. By so, this paper demonstrates that customers respond differently to online and mobile channels, and they also respond differently within mobile channels when they purchase products with price discounts.

Originality/value

This study is original in analyzing the difference in customers’ discount responses across digital channels, offering valuable contributions to existing research on multichannel marketing as well as mobile marketing and providing helpful insights for multichannel merchants to design digital discount strategies.

Details

Nankai Business Review International, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-8749

Keywords

Article
Publication date: 8 April 2024

Sana Braiek and Houda Ben Said

This study aims to empirically explore and compare the dynamic dependency between health-care sector and Islamic industries before, during and after the COVID-19 pandemic.

Abstract

Purpose

This study aims to empirically explore and compare the dynamic dependency between health-care sector and Islamic industries before, during and after the COVID-19 pandemic.

Design/methodology/approach

Time-varying student-t copula is used for before, during and after COVID-19 periods. The data used are the daily frequency price series of the selected markets from February 2017 to October 2023.

Findings

Empirical results found strong evidence of significant impact of the COVID-19 pandemic on the dependence structure of the studied indexes: Co-movements between various sectors are certain. The authors assist also in the birth of new dependence structure with the health-care industry in response to the COVID-19 crisis. This reflects the contagion occurrence from the health-care sector to other sectors.

Originality/value

By specifically examining the Islamic industry, this study sheds light on the resilience, challenges and opportunities within this sector, contributing novel perspectives to the broader discourse on pandemic-related impacts on economies and industries. Also, this paper conducts a comprehensive temporal analysis, examining the dynamics before, during and after the COVID-19 lockdown. Such approach enables an understanding of how the relationship between the health-care sector and the Islamic industry evolves over time, accounting for both short-term disruptions and long-term effects. By considering the pre-pandemic context, the paper adopts a longitudinal perspective, enabling a deeper understanding of how historical trends, structural factors and institutional frameworks shape the interplay between the health-care sector and the Islamic industry.

Details

Journal of Financial Reporting and Accounting, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1985-2517

Keywords

Article
Publication date: 11 September 2023

Abinash Mandal and Amilan S

This study aims to examine how auditors perceive the influence of crucial fraud prevention factors in deterring financial statement fraud within the corporate sector…

Abstract

Purpose

This study aims to examine how auditors perceive the influence of crucial fraud prevention factors in deterring financial statement fraud within the corporate sector. Additionally, this research explores the mediating effect of fraud awareness in elucidating the impact of ethical leadership and internal control systems on preventing financial statement fraud.

Design/methodology/approach

The study used an online survey, targeting a sample of 141 professionally qualified auditors with at least one year of practical experience in the field. The researchers used “Structural Equation Modeling (SEM)” to examine relationships between latent variables using partial least squares structural equation modeling. The study investigated the impact of whistleblowing systems, fraud awareness, ethical leadership, internal control systems and corporate governance on fraud prevention.

Findings

This research finding provides evidence to the corporate sector by establishing the significance of fraud awareness as the most influencing factor in preventing financial statement fraud. Furthermore, the combined explanatory variables account for 77.4% of the overall variance in financial statement fraud prevention. The study reveals a partial mediation effect of fraud awareness on the relationship between the internal control system and financial statement fraud prevention.

Practical implications

This research finding may assist in developing an effective fraud prevention programme to mitigate fraud instances and improve financial reporting quality. In the corporate sector, each organisation should clearly specify the policies on whistleblowing systems, fraud awareness training, internal control systems and corporate governance. To foster a comprehensive fraud prevention programme, the leaders should enforce these policies with employee support.

Originality/value

This research integrated crucial elements to develop a new theoretical framework for investigating financial statement fraud prevention within the corporate context. Accordingly, this research framework provides a more in-depth explanation of preventing financial statement fraud from an auditor’s perspective. Additionally, this research is the first to explore the mediating role of fraud awareness in influencing the effectiveness of the internal control system in preventing financial statement fraud.

Details

Journal of Financial Reporting and Accounting, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1985-2517

Keywords

Article
Publication date: 20 November 2023

Jungwon Lee and Cheol Park

This study is based on the heuristic-systematic model (HSM) to dynamically examine the effect of review variance on sales and the boundary conditions that mitigate this effect.

Abstract

Purpose

This study is based on the heuristic-systematic model (HSM) to dynamically examine the effect of review variance on sales and the boundary conditions that mitigate this effect.

Design/methodology/approach

Based on the theoretical domain of HSM, a conceptual model is proposed that analyzes the nonlinear relationship between review variance and sales and the interaction and motivation factors that moderate these relationships. Review data from websites targeting the film industry in the USA and South Korea (Korea) were collected to empirically analyze the authors' hypothesis, and panel regression analysis was used for confirmation.

Findings

Moderated by interactive and motivational factors, review variance exhibits an inverse-U-shaped relationship with review variance. Specifically, as an interaction factor, review valence and owned social media (OSM) resulted in positive interaction effects, and as a motivation factor, the number of alternatives exhibited a positive interaction effect with review variance. The effect of review variance was less pronounced in the USA than in Korea.

Originality/value

The study outcomes reveal a nonlinear relationship between review variance and sales, thus supporting the contradictory findings of previous studies. This study contributes to the literature by using the HSM as a theoretical framework to verify various HSM mechanisms using online review data. This exploratory study also contributes to the international marketing literature by showing that the effects of review variance vary across cultures.

Details

Internet Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1066-2243

Keywords

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