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Article
Publication date: 29 March 2024

Fazıl Gökgöz and Canan Seyhan

Investors who can transfer their savings to investments in a well-regulated market benefit not only themselves but also economic development. Hence, it is crucial for fund owners…

Abstract

Purpose

Investors who can transfer their savings to investments in a well-regulated market benefit not only themselves but also economic development. Hence, it is crucial for fund owners to evaluate their stock market investment decisions. The goal of the study is to understand which model determines the asset returns most efficiently. In this regard, the validity of single and multi-index asset pricing models (capital asset pricing model-CAPM and Fama–French models) has been examined in the Turkish Stock Exchange for 2009–2020, with the quantile regression (QR) approach.

Design/methodology/approach

On 18 portfolios comprised of quoted stocks in the Istanbul Stock Exchange 100 (ISE-100/BIST-100), we test the CAPM, the Fama and French three factor model (FF3) and the Fama and French five factor model (FF5). Empirical analyses have been carried out via QR approach regressing the portfolios' average weekly excess returns on risk premium/market factor (Rm-Rf), firm size, book value/market value (B/M), profitability and investments factors. QR estimation has been employed since QR is more effective and provides a better definition of the distribution’s tails.

Findings

Our empirical findings have revealed that the average excess weekly returns can be explained more strongly via CAPM. Moreover, Fama and French models are expected to give more reliable result with more data, whereas the market premium would give robust results for the Turkish Capital Market.

Practical implications

Individuals investing in financial assets must find the price model that best fits the market. The return can be approximated in the most appropriate manner using the right variables.

Originality/value

The study differs from other research by comparing the asset pricing models via examining the assets' weekly returns with QR in the Istanbul Stock Exchange 100 (ISE-100).

Details

Journal of Economic Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 28 July 2023

Vasanthi Mamidala, Pooja Kumari and Dakshita Singh

The purpose of this study is to examine the behaviour of retail investors while making an investment decision and how it gets affected by the behavioural biases of the investors…

Abstract

Purpose

The purpose of this study is to examine the behaviour of retail investors while making an investment decision and how it gets affected by the behavioural biases of the investors using a moderated-mediation framework.

Design/methodology/approach

A mixed method approach has been used to fulfil the objectives of the study. In the first study, a qualitative analysis of the interviews with 15 retail investors was conducted. As part of the quantitative study, a total of 201 responses from Indian retail investors were collected using systematic sampling and analysed using structural equation modelling and Process Macro.

Findings

The results indicate that anchoring bias, availability bias, herding bias, switching cost, sunk cost, regret avoidance and perceived threat have a significant effect on retail investors’ investing intention. The attitude of the investors towards investing decisions mediates the effects of behavioural bias and the status quo on investment intention. The results of the moderated-mediation analysis indicate that mediating effect of attitude varied at the low and high-risk aversion of investors.

Practical implications

The findings of this study will help regulators and retail investors to understand the critical behavioural biases which affect the investors’ investing intention.

Originality/value

The paper contributes to the literature on investors’ behaviour, status quo bias theory (SQB) and behavioural bias. This study uniquely proposes a moderated-mediation framework to understand the effects of biases on retail investors’ investment intention.

Details

Qualitative Research in Financial Markets, vol. 16 no. 3
Type: Research Article
ISSN: 1755-4179

Keywords

Article
Publication date: 16 April 2024

Yanling Wang, Qin Lin, Shihan Zhang and Nannan Chen

The purpose of this study is to empirically examine the cause–effect relationships between workplace friendship and knowledge-sharing behavior, from a static perspective…

Abstract

Purpose

The purpose of this study is to empirically examine the cause–effect relationships between workplace friendship and knowledge-sharing behavior, from a static perspective. Furthermore, it investigates the bi-directional relationship between the increase in both workplace friendship and knowledge-sharing behavior over same time periods, and also endeavors to identify whether there is a significant negative lagged effect of the increase in both workplace friendship on knowledge-sharing behavior, and vice versa, across time from a dynamic perspective.

Design/methodology/approach

The study conducts a three-wave questionnaire survey to test the research model. A latent change score approach was used to test the direct relationship between changes in workplace friendship and changes in knowledge-sharing behavior.

Findings

The findings reveal that knowledge-sharing behavior fosters workplace friendship and workplace friendship promotes the emergence of knowledge-sharing behavior. An increase in workplace friendship promotes an increase in knowledge-sharing behavior over same time periods. However, an increase in workplace friendship will lead to a lagged decrease of knowledge-sharing behavior across time, and vice versa.

Research limitations/implications

The time interval in this study is a little short to capture the full changes in workplace friendship. Some important control factors and mediating mechanisms are not included in the research model.

Practical implications

This study guides managers to focus on various motivators to better strengthen workplace friendship and knowledge-sharing behavior and to consider and effectively respond to the negative side of workplace friendship and knowledge-sharing behavior across time.

Originality/value

This study emphasizes the predictivity of one important interaction patterns, namely, knowledge-sharing behavior on friendship at the workplace, from a static perspective. This study also shows the benefits of an increase in workplace friendship for the development of knowledge-sharing behavior in the same time period. Furthermore, the study presents a counterintuitive finding when taking the lag effect into consideration in exploring the relationship between changes both in workplace friendship and knowledge-sharing behavior, and identifies a negative side of both when viewed over longer periods.

Details

Journal of Knowledge Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1367-3270

Keywords

Article
Publication date: 24 January 2022

Pooja Kumari and Bhumika Bhateja

The surge in coronavirus disease (COVID-19) cases in India raises the need to study the variables that affect product and category choices, consumer buying preferences and…

Abstract

Purpose

The surge in coronavirus disease (COVID-19) cases in India raises the need to study the variables that affect product and category choices, consumer buying preferences and consumrs' future spending. The purpose of the research is to analyse the purchasing behaviour of Indian consumers with regard to health and hygiene products, taking into consideration the impact of the current pandemic crisis.

Design/methodology/approach

Using purposive sampling criteria, a web-based questionnaire was circulated and a total of 411 responses were received.

Findings

The results assert that variables such as awareness of social distancing, brand-cause fit, word-of-mouth (WOM) publicity, altruist attribution, perceived usefulness and social norms have significant impact on trust and perceived values, which ultimately leads to consumer's purchase intention towards health and hygiene products. In addition, the model detects the moderating role of health consciousness.

Practical implications

The empirical findings will help marketers in designing their strategies to enhance consumer purchase intention with regard to health and hygiene products in the current pandemic situation.

Originality/value

The study enriches the emerging literature with regard to the impact of COVID-19 on health and hygiene products retailing.

Details

South Asian Journal of Business Studies, vol. 13 no. 1
Type: Research Article
ISSN: 2398-628X

Keywords

Open Access
Article
Publication date: 30 October 2023

Guido Migliaccio and Andrea De Palma

This study illustrates the economic and financial dynamics of the sector, analysing the evolution of the main ratios of profitability and financial structure of 1,559 Italian real…

1258

Abstract

Purpose

This study illustrates the economic and financial dynamics of the sector, analysing the evolution of the main ratios of profitability and financial structure of 1,559 Italian real estate companies divided into the three macro-regions: North, Centre and South, in the period 2011–2020. In this way, it is also possible to verify the responsiveness to the 2020 pandemic crisis.

Design/methodology/approach

The analysis uses descriptive statistics tools and the ANOVA method of analysis of variance, supplemented by the Tukey–Kramer test, to identify significant differences between the three Italian macro-regions.

Findings

The study shows the increase in profitability after the 2008 crisis, despite its reverberation in the years 2012–2013. The financial structure of companies improved almost everywhere. The pandemic had modest effects on performance.

Research limitations/implications

In the future, other indices should be considered to gain a more comprehensive view. This is a quantitative study based on financial statements data that neglects other important economic and social factors.

Practical implications

Public policies could use this study for better interventions to support the sector. In addition, internal management can compare their company's performance with the industry average to identify possible improvements.

Social implications

The research analyses an economic field that employs a large number of people, especially when considering the construction and real estate services covered by this analysis.

Originality/value

The study contributes to the literature by providing a quantitative analysis of industry dynamics, with comparative information that can be deduced from financial statements over the years.

Details

International Journal of Productivity and Performance Management, vol. 73 no. 11
Type: Research Article
ISSN: 1741-0401

Keywords

Abstract

Details

Understanding Intercultural Interaction: An Analysis of Key Concepts, 2nd Edition
Type: Book
ISBN: 978-1-83753-438-8

Open Access
Article
Publication date: 24 July 2023

Shahrokh Nikou and Monika Luukkonen

Due to high demand for international talents and skilful workforces, many countries around the world, especially the ageing populations are now looking for new ways and strategies…

3049

Abstract

Purpose

Due to high demand for international talents and skilful workforces, many countries around the world, especially the ageing populations are now looking for new ways and strategies to attract more international talent. Drawing on push-pull factor theory, integrated with theory of reasoned action (TRA), this research examines international students' intention to stay or to leave the host country after completion of the students' studies.

Design/methodology/approach

A conceptual model has been proposed and evaluated aimed at understanding the factors that influence the decision-making of international students studying in Finland. Data were collected from a sample of 292 international students in Finland and structural equation modelling (SEM) was used to analyse the data and examine the relationships between various constructs in the model.

Findings

The SEM results show that several factors influence students' decision to stay or leave the host country after graduation. Aspects related to host country, institutional and economic factors and social influence (norms) directly impact students' attitude towards staying. In addition, attitude towards staying not only has a direct impact on the intention to stay, but also mediates the relationship between different pulling factors and students' intention to stay in the host country. Moreover, challenges and barriers (such as local language, challenge of finding employment and challenge of assimilating into the community or making friends) have a negative impact on the decision to stay in the host country.

Originality/value

This study uses push-pull theory in the Finnish context, contributing to the growing body of literature on international education policies and practices. The findings highlight the need for a more holistic approach to supporting international students, one that considers the students' unique needs and experiences in the host country and provides the students with the necessary resources and support to succeed.

Details

Higher Education, Skills and Work-Based Learning, vol. 14 no. 1
Type: Research Article
ISSN: 2042-3896

Keywords

Article
Publication date: 12 April 2024

Tongzheng Pu, Chongxing Huang, Haimo Zhang, Jingjing Yang and Ming Huang

Forecasting population movement trends is crucial for implementing effective policies to regulate labor force growth and understand demographic changes. Combining migration theory…

Abstract

Purpose

Forecasting population movement trends is crucial for implementing effective policies to regulate labor force growth and understand demographic changes. Combining migration theory expertise and neural network technology can bring a fresh perspective to international migration forecasting research.

Design/methodology/approach

This study proposes a conditional generative adversarial neural network model incorporating the migration knowledge – conditional generative adversarial network (MK-CGAN). By using the migration knowledge to design the parameters, MK-CGAN can effectively address the limited data problem, thereby enhancing the accuracy of migration forecasts.

Findings

The model was tested by forecasting migration flows between different countries and had good generalizability and validity. The results are robust as the proposed solutions can achieve lesser mean absolute error, mean squared error, root mean square error, mean absolute percentage error and R2 values, reaching 0.9855 compared to long short-term memory (LSTM), gated recurrent unit, generative adversarial network (GAN) and the traditional gravity model.

Originality/value

This study is significant because it demonstrates a highly effective technique for predicting international migration using conditional GANs. By incorporating migration knowledge into our models, we can achieve prediction accuracy, gaining valuable insights into the differences between various model characteristics. We used SHapley Additive exPlanations to enhance our understanding of these differences and provide clear and concise explanations for our model predictions. The results demonstrated the theoretical significance and practical value of the MK-CGAN model in predicting international migration.

Details

Data Technologies and Applications, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9288

Keywords

Article
Publication date: 3 April 2024

Lili Gao, Xicheng Zhang, Xiaopeng Deng, Na Zhang and Ying Lu

This study aims to investigate the relationship between individual-level psychological resources and team resilience in the context of expatriate project management teams. It…

Abstract

Purpose

This study aims to investigate the relationship between individual-level psychological resources and team resilience in the context of expatriate project management teams. It seeks to understand how personal psychological resources contribute to team resilience and explore the dynamic evolution mechanism of team resilience. The goal is to enhance team resilience among expatriates in a BANI (Brittle, Anxious, Nonlinear, and Incomprehensible) world, where organizations face volatile and uncertain conditions.

Design/methodology/approach

An online survey was applied for data collection, and 315 valid samples from Chinese expatriates in international construction projects were utilized for data analysis. A structural equation model (SEM) examines the relationships between personal psychological resources and team resilience. The study identifies five psychological factors influencing team resilience: Employee Resilience, Cross-cultural Adjustment, Self-efficacy, Social Support, and Team Climate. The hypothesized relationships are validated through the SEM analysis. Additionally, a fuzzy cognitive map (FCM) is constructed to explore the dynamic mechanism of team resilience formation based on the results of the SEM.

Findings

The SEM analysis confirms that employee resilience, cross-cultural adjustment, and team climate positively impact team resilience. Social support and self-efficacy also have positive effects on team climate. Moreover, team climate is found to fully mediate the relationship between self-efficacy and team resilience, as well as between social support and team resilience. The FCM model provides further insights into the dynamic evolution of team resilience, highlighting the varying impact effects of antecedents during the team resilience development process and the effectiveness of different combinations of intervention strategies.

Originality/value

This study contributes to understanding team resilience by identifying the psychological factors influencing team resilience in expatriate project management teams. The findings emphasize the importance of social support and team climate in promoting team resilience. Interventions targeting team climate are found to facilitate the rapid development of team resilience. In contrast, interventions for social support are necessary for sustainable, long-term high levels of team resilience. Based on the dynamic simulation results, strategies for cultivating team resilience through external intervention and internal adjustment are proposed, focusing on social support and team climate. Implementing these strategies can enhance project management team resilience and improve the core competitiveness of contractors in the BANI era.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 31 July 2023

Marina Lourenção, Janaina de Moura Engracia Giraldi and Keith Dinnie

Sectoral brands are umbrella brands created to represent all companies’ products belonging to a country’s economic industry abroad to enhance their export performance. This study…

Abstract

Purpose

Sectoral brands are umbrella brands created to represent all companies’ products belonging to a country’s economic industry abroad to enhance their export performance. This study aims to explore the development of a sectoral brand model through the optic of the social constructionist perspective. Besides, this study also proposes to apply the model to a sectoral brand case in the business-to-business market.

Design/methodology/approach

The authors have developed a systematic qualitative literature review to provide a theoretical basis for the attributes chosen to compose the social constructionist sectoral brand management (SCSBM) model. To apply the model, the authors have conducted a series of 17 in-depth semi-structured interviews with the association’s managers that constitute the sectoral brand development, the director of the branding consultancy firm and specialists on place branding.

Findings

The authors present the SCSBM model, highlighting that sectoral branding should be seen as a dynamic and continuous process with the integrated participation of all industry stakeholders. Moreover, the authors have applied the model to the Brazil Fashion System brand.

Research limitations/implications

The main contribution to theory is the link between sectoral brand management and the social constructionist approach, being the first study, to the best of the authors’ knowledge, to propose this connection. SCSBM model extends previous work on sectoral brands by adopting a social constructionist view.

Practical implications

The SCSBM model might contribute to marketing professionals willing to develop sectoral brands across multiple economic sectors and geographies.

Originality/value

The study’s originality lies in developing the first model, which adopts a social constructionist approach to sectoral brands.

Details

Journal of Business & Industrial Marketing, vol. 39 no. 2
Type: Research Article
ISSN: 0885-8624

Keywords

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