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1 – 10 of over 3000Investors 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).
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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.
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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.
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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…
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.
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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.
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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.
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Rishabh Rajan, Mukesh Jain and Sanjay Dhir
This study aims to identify the critical factors contributing to India-based non-governmental organizations (NGOs) capacity building and value creation for beneficiaries.
Abstract
Purpose
This study aims to identify the critical factors contributing to India-based non-governmental organizations (NGOs) capacity building and value creation for beneficiaries.
Design/methodology/approach
A total interpretive structural modeling technique has been used to develop a hierarchical model of critical factors and understand their direct and indirect interrelationships. The driving force and dependence force of these factors were determined by using cross-impact matrix multiplication applied to classification analysis.
Findings
This study identifies 12 critical factors influencing NGO capacity building in India’s intellectual disability sector across four dimensions. Internal organizational capabilities include infrastructure, staff qualifications, fundraising, vocational activities and technical resources. Second, coordination and stakeholder engagement highlight government and agency collaboration, dedicated board members and stakeholder involvement. Third, adaptability and responsiveness emphasize adjusting to external trends and seizing opportunities. Finally, impact and value creation emphasis on improving value for persons with disabilities (PWDs).
Practical implications
The findings of this study have practical implications for Indian NGOs working for PWDs. The study provides NGOs with a structural model for improving organizational capacity by identifying and categorizing critical factors into the strategic model.
Originality/value
There is a scarcity of literature on capacity building for disability-focused NGOs in India. This study seeks to identify critical factors and develop a hierarchical model of those factors to assist policymakers in India in building the capacity of NGOs.
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Lina Gozali, Teuku Yuri M. Zagloel, Togar Mangihut Simatupang, Wahyudi Sutopo, Aldy Gunawan, Yun-Chia Liang, Bernardo Nugroho Yahya, Jose Arturo Garza-Reyes, Agustinus Purna Irawan and Yuliani Suseno
This research studies the development of the evolving dynamic system model and explores the important elements or factors and what detailed attributes are the main influences…
Abstract
Purpose
This research studies the development of the evolving dynamic system model and explores the important elements or factors and what detailed attributes are the main influences model in achieving the success of a business, industry and management. It also identifies the real and major differences between static and dynamic business management models and the detailed factors that influence them. Later, this research investigates the benefits/advantages and limitations/disadvantages of some research studies. The studies conducted in this research put more emphasis on the capabilities of system dynamics (SD) in modeling and the ability to measure, analyse and capture problems in business, industry, manufacturing etc.
Design/methodology/approach
The research presented in this work is a qualitative research based on a literature review. Publicly available research publications and reports have been used to create a research foundation, identify the research gaps and develop new analyses from the comparative studies. As the literature review progressed, the scope of the literature search was further narrowed down to the development of SD models. Often, references to certain selected literature have been examined to find other relevant literature. To do so, a supporting tool (that connects related articles) provided by Google Scholar, Scopus, and particular journals has been used.
Findings
The dynamic business and management model is very different from the static business model in complexity, formality, flexibility, capturing, relationships, advantages, innovation model, new goals, updated information, perspective and problem-solving abilities. The initial approach of a static system was applied in the canvas business model, but further developments can be continued with a dynamic system approach.
Research limitations/implications
Based on this study, which shows that businesses are developing more towards digitalisation, wanting the ability to keep up with the era that is moving so fast and the desire to increase profits, an instrument is needed that can help describe the difficulties of the needs and developments of the future world. This instrument, or tool of SD, is also expected to assist in drawing future models and in building a business with complex variables that can be predicted from the beginning.
Practical implications
This study will contribute to the SD study for many business incubator research studies. Many practical in business incubator management to have a benefit how to achieve the business performance management (BPM) in SD review.
Originality/value
The significant differences between static and dynamics to be used for business research and strategic performance management. This comparative study analyses some SD models from many authors worldwide. Their goals behind their strategic business models and encounter for their respective progress.
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Abstract
Purpose
This study aims to explore the effect of collaboration networks (domestic and international collaboration networks) on the innovation performance of small and medium-sized enterprises (SMEs). It also investigates the mediating role of business model innovation, the moderating role of entrepreneurial orientation and government institutional support between them.
Design/methodology/approach
Hierarchical regression analysis is adopted to test the hypotheses based on survey data provided by 223 manufacturing SMEs in China.
Findings
The results reveal that domestic and international collaboration networks positively affect SMEs' innovation performance. Business model innovation mediates domestic and international collaboration networks-SMEs’ innovation performance relationships. Entrepreneurial orientation positively moderates international collaboration networks–SMEs’ innovation performance relationship, and government institutional support positively moderates domestic and international collaboration networks–SMEs’ innovation performance relationships.
Practical implications
The findings indicate that managers of SMEs should invest in domestic and international collaboration networks and business model innovation to enhance SMEs' innovation performance. Moreover, entrepreneurial orientation and government institutional support should be valued when SMEs try to enhance their innovation performance by embedding in domestic and international collaboration networks.
Originality/value
This study broadens the authors' understanding of the relationship between collaboration networks and firms' innovation performance by classifying collaboration networks into domestic and international dimensions and investigating their direct impacts on SMEs' innovation performance. Besides, this study reveals how and when domestic and international collaboration networks influence the innovation performance of SMEs.
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Jitesh J. Thakkar, Rishabh Rathore and Chandrima Chatterjee
Despite the fact that hygiene and sanitation are becoming more critical for improving the present situation in developing nations, the factors that affect them are not well…
Abstract
Purpose
Despite the fact that hygiene and sanitation are becoming more critical for improving the present situation in developing nations, the factors that affect them are not well covered in the present research. This paper investigates the quality of the hygiene and sanitization factors and identifies the interrelations between the identified factors.
Design/methodology/approach
A graph theory-based approach is proposed to assess the factors influencing the practice, and a critical service index (CSI) is used to quantify the same.
Findings
Two Indian villages are used to illustrate the implementation of the suggested approach. This represents the validation of the suggested method, as well as assisting in the development of essential suggestions for increasing the quality of hygiene and sanitization in the Indian context. In spite of the increasing importance of hygiene and sanitation for improving the current situation in developing countries, the factors that influence them are not well-researched.
Research limitations/implications
This study contributes in two ways. First, it provides an organized methodology for quantifying hygiene and sanitation factors and a critical service index that incorporates the findings. The suggested approach may also be used to evaluate and classify other sectors. Second, it shows how the methodology was used to create key recommendations for two Indian villages, which may be considered the first effort in India’s hygiene and sanitation initiatives.
Originality/value
This research discussed improvements in sanitation and hygiene habits among Indian households, which have not been achieved as expected under the Swachh Bharat Mission.
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