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1 – 10 of over 5000
Article
Publication date: 4 March 2024

Tarek Chebbi, Hazem Migdady, Waleed Hmedat and Maha Shehadeh

The price clustering behavior is becoming a core part of the market efficiency theory especially with the development of trading strategies and the occurrence of major and…

Abstract

Purpose

The price clustering behavior is becoming a core part of the market efficiency theory especially with the development of trading strategies and the occurrence of major and unprecedented shocks which have led to severe inquiry regarding asset price dynamics and their distribution. However, research on emerging stock market is scant. The study contributes to the literature on price clustering by investigating an active emerging stock market, the Muscat stock market one of the Arabian Gulf Markets.

Design/methodology/approach

This research adopts the artificial intelligence technique and other statistical estimation procedure in understanding the price clustering patterns in Muscat stock market and their main determinants.

Findings

The findings reveal that stock prices are marked by clustering behavior as commonly highlighted in the previous studies. However, we found strong evidence of price preferences to cluster on numbers closer to zero than to one. We also show that the nature of firm’s activity matters for price clustering behavior. In addition, firms with traded bonds in Oman market experienced a substantial less stock price clustering than other firms. Clustered stock prices are more likely to have higher prices and higher volatility of price. Finally, clustering raised when the market became highly uncertain during the Covid-19 crisis especially for the financial firms.

Originality/value

This study provides novel results on price clustering literature especially for an active emerging market and during the Covid-19 pandemic crisis.

Details

Review of Behavioral Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1940-5979

Keywords

Article
Publication date: 19 September 2023

Ahmed S. Baig, Muhammad Imran Chaudhry and R. Jared DeLisle

In this paper, the authors study the phenomenon of price clustering in the Pakistan Stock Exchange (PSX), a market viewed as one of the best-performing stock markets in the world…

Abstract

Purpose

In this paper, the authors study the phenomenon of price clustering in the Pakistan Stock Exchange (PSX), a market viewed as one of the best-performing stock markets in the world during 2014–2017. The authors study the effect of stock-level variables on price clustering and analyze the determinants of the cross-sectional patterns of price clustering in the PSX, in particular the causal link between price clustering and political instability.

Design/methodology/approach

The authors' dataset comprises daily observations on 100 PSX stocks spanning from January 1, 2009 to June 30, 2019. The authors use multivariate regression and spectral analysis to shed light on the dynamics of stock price clustering in PSX.

Findings

The authors document abnormally high levels of stock price clustering, particularly on integer increments, in PSX. The nature of stock price clustering in PSX is consistent with the negotiation hypothesis of Harris (1991). The levels of stock price clustering on PSX are persistent and contain a cyclical component. Furthermore, the authors find that political uncertainty in Pakistan is a significant contributor to the high levels of price clustering on PSX. The authors' conclusions are robust to alternative econometric specifications and different measures of price clustering and political uncertainty.

Practical implications

The authors' findings are of interest to investors and policymakers. Since price clustering decreases market quality and degrades the information content of stock prices, the authors' study shows that price efficiency in PSX has not improved despite major reforms over the last decade. One practical implication of the authors' results is that investors should be cautious while rebalancing portfolios around political events such as general elections because stock price clustering increases in the PSX during these periods. As a result, stock prices are likely to deviate from their intrinsic values.

Originality/value

Research on price clustering is limited to developed markets, and emerging/frontier markets have been largely overlooked. The phenomenon of price clustering in the PSX has yet to be studied, despite the relevance of the PSX for emerging/frontier market investors.

Details

Managerial Finance, vol. 50 no. 3
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 13 December 2023

Shalini Reddy Naini and M. Ravindar Reddy

This paper aims to present a summary of the green consumer behaviour (GCB) research conducted during the 2001–2021 period using the bibliometric analysis and to carry out a…

Abstract

Purpose

This paper aims to present a summary of the green consumer behaviour (GCB) research conducted during the 2001–2021 period using the bibliometric analysis and to carry out a thematic and content analysis on the three clusters which comprise 57 articles resulting from the co-citation analysis and identify the significant green purchasing factors.

Design/methodology/approach

The three-pronged methodology applied to this research analysis includes performance analysis of the literature using biblioshiny and R Studio; network mapping analysis using VOSviewer and Gephi; thematic analysis using word clouds generated with R Software and content analysis of each paper with the aid of within and between-study analyses.

Findings

Cluster one acted as a base for the theoretical foundations of GCB which aids in understanding the basic concepts of green marketing, its evolution and the methodologies, whereas cluster two determined the predictors of everyday green behaviour, which helps in gaining knowledge about the everyday sustainable activities the consumers indulge and the factors motivating to do so. Cluster three mainly focused on the psycho-socio demographic determinants of GCB, which assists in segmentation and predicting the purchase behaviour of the various consumer segments.

Originality/value

The significant variables and major gaps in each of the clusters were identified and authors have drawn the implications for future researchers and marketing managers.

Details

Benchmarking: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-5771

Keywords

Open Access
Article
Publication date: 31 March 2023

Júlio Lobão

This paper aims to examine the extent of price clustering in a selection of Islamic stocks listed in Indonesia, Malaysia and Pakistan and also investigates the determinants of the…

Abstract

Purpose

This paper aims to examine the extent of price clustering in a selection of Islamic stocks listed in Indonesia, Malaysia and Pakistan and also investigates the determinants of the phenomenon at the firm level.

Design/methodology/approach

The author test the uniformity of price distribution in the selected securities. Then, the determinants of price clustering were investigated through multivariate analysis based on a binary logistic regression model. Following the arguments of Narayan et al. (2011), who emphasize the importance of considering firm heterogeneity when studying the phenomenon, the author conducts the empirical study at the firm level.

Findings

The evidence indicates that Islamic stocks show a mild level of price clustering. Only half of the stocks under analysis rejected the uniformity test in the distribution of prices. In these cases, investors exhibited a preference for prices ending at zero and five. The evidence does not confirm the cultural clustering theories. Price clustering is found to be positively associated with price level and relative bid-ask spread. Overall, the negotiation hypothesis, which predicts that investors prefer round prices to minimize the costs associated with negotiations, best explains most of our results.

Research limitations/implications

The existence of price clustering is difficult to reconcile with the prediction of the efficient market hypothesis that prices should follow a random walk. Moreover, the evidence indicates that Muslim investors share a preference for round prices in some settings, under the assumption that Islamic stocks are mostly traded by Muslim investors.

Originality/value

To the author’s best knowledge, this is the first study to address the subject of price clustering in Islamic stocks.

Details

Journal of Islamic Accounting and Business Research, vol. 15 no. 1
Type: Research Article
ISSN: 1759-0817

Keywords

Book part
Publication date: 13 June 2023

Suhail Sultan and Meine Pieter van Dijk

This study aims to analyze the challenges facing five Palestinian clusters and to understand their dynamics and level of development. Using multiple sources of evidence, the…

Abstract

This study aims to analyze the challenges facing five Palestinian clusters and to understand their dynamics and level of development. Using multiple sources of evidence, the research questions are answered using semi-structured interviews and focus group discussions. Content analysis was used to analyze the data obtained. The five clusters in Palestine are located in a complex environment that imposes a mix of challenges that adversely affect their performance. The challenges facing Palestinian clusters are different in terms of their degree of complexity. The common challenges facing the Palestinian clusters are the fundamental lack of innovative stimulation policies or incentives in the Palestinian ecosystem, lack of trust, unfair competition, limited access to finance, lack of access to promising markets, and the limited collaboration between different parties. More focused policies are suggested to the Palestinian authorities.

Details

Industry Clusters and Innovation in the Arab World
Type: Book
ISBN: 978-1-80262-872-2

Keywords

Article
Publication date: 1 March 2024

Hitesh Kalro and Mayank Joshipura

This study examines current dynamics, consolidates current knowledge, elicits trends, identifies and analyzes primary research clusters, offers future directions, and develops an…

Abstract

Purpose

This study examines current dynamics, consolidates current knowledge, elicits trends, identifies and analyzes primary research clusters, offers future directions, and develops an integrated framework for Product Advantage (PA) research.

Design/methodology/approach

Using the SCOPUS database, this study applied bibliometric analysis (208 articles) and conducted content analysis on the 35 curated articles selected using a combination of bibliographic coupling and the most cited articles.

Findings

This study presents the field’s publication trends, most relevant authors, articles, journals, and knowledge structures. It identifies six primary research themes and four major clusters using the thematic map and bibliographic coupling. Marketing and PA, New Product Development (NPD) and PA, Product Innovation and PA, and New product speed and PA are the main clusters. Finally, this study offers directions for future research and provides an integrated framework for PA research.

Practical implications

By developing an ADO framework of PA, the study offers key insights into how PA shapes product outcomes and identifies key antecedents of PA. Firms must focus on firm factors such as market and technological orientation; product factors, such as development time and pre-announcement proficiency; external factors, such as competition; and environmental factors, such as competitive intensity and technological turbulence. It enables firms to create products with high PA, shaping product outcomes and contributing to their competitive advantage.

Originality/value

This is the first study to conduct a two-stage sequential hybrid review of quality articles on PA. It offers an Antecedents-Decisions-Consequences (ADO) framework based on significant studies and offers cluster-wise directors for future research.

Details

Marketing Intelligence & Planning, vol. 42 no. 3
Type: Research Article
ISSN: 0263-4503

Keywords

Open Access
Article
Publication date: 25 August 2022

Ashish Kumar, Shikha Sharma, Ritu Vashistha, Vikas Srivastava, Mosab I. Tabash, Ziaul Haque Munim and Andrea Paltrinieri

International Journal of Emerging Markets (IJoEM) is a leading journal that publishes high-quality research focused on emerging markets. In 2020, IJoEM celebrated its fifteenth…

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Abstract

Purpose

International Journal of Emerging Markets (IJoEM) is a leading journal that publishes high-quality research focused on emerging markets. In 2020, IJoEM celebrated its fifteenth anniversary, and the objective of this paper is to conduct a retrospective analysis to commensurate IJoEM's milestone.

Design/methodology/approach

Data used in this study were extracted using the Scopus database. Bibliometric analysis, using several indicators, is adopted to reveal the major trends and themes of a journal. Mapping of bibliographic data is carried using VOSviewer.

Findings

Study findings indicate that IJoEM has been growing for publications and citations since its inception. Four significant research directions emerged, i.e. consumer behaviour, financial markets, financial institutions and corporate governance and strategic dimensions based on cluster analysis of IJoEM's publications. The identified future research directions are focused on emergent investments opportunities, trends in behavioural finance, emerging role technology-financial companies, changing trends in corporate governance and the rising importance of strategic management in emerging markets.

Originality/value

To the best of the authors' knowledge, this is the first study to conduct a comprehensive bibliometric analysis of IJoEM. The study presents the key themes and trends emerging from a leading journal considered a high-quality research journal for research on emerging markets by academicians, scholars and practitioners.

Details

International Journal of Emerging Markets, vol. 19 no. 4
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 25 August 2023

Niket Thakker, Hitesh Kalro, Mayank Joshipura and Prashant Mishra

This study examines current dynamics, consolidates current knowledge, elicits trends, identifies and analyzes primary research clusters, and offers future research directions for…

Abstract

Purpose

This study examines current dynamics, consolidates current knowledge, elicits trends, identifies and analyzes primary research clusters, and offers future research directions for mutual fund marketing.

Design/methodology/approach

Using bibliographic information from the SCOPUS database, this study used sequential bibliometric (143 documents) and content analyses (37 documents). Bibliometric analysis aids descriptive analysis and science mapping, while content analysis facilitates identifying and analyzing research clusters and provides future research directions.

Findings

The study identifies publication trends, the most relevant authors, and journal articles and unveils the knowledge structures of the field. Analysis of bibliographic coupling reveals the following significant clusters: (1) socially responsible investing and investor preferences, (2) investor factors and traits and investment decisions; (3) external factors, mutual funds' performance and proxy information; (4) the role of disclosures and ratings in shaping investment choices, and (5) cognitive biases, information processing errors and investor behavior. Finally, it offers future research directions.

Research limitations/implications

Using different databases, bibliometric analysis tools, study periods or article screening criteria for the study might yield different results. However, this study's significant findings are robust to such alternatives.

Practical implications

This study summarizes primary clusters and identifies gaps in the current literature, which helps scholars, practitioners, regulators and policymakers understand the nuances of mutual funds marketing. Future studies may focus on the role of online and offline integration, using neuroscience for data m and contemporary investment behavior models.

Originality/value

This is the first study to apply a two-stage sequential hybrid review of articles published over the last decade in high-quality journals, enabling an analysis of the depth and breadth of mutual funds marketing research.

Details

International Journal of Bank Marketing, vol. 41 no. 7
Type: Research Article
ISSN: 0265-2323

Keywords

Open Access
Article
Publication date: 15 June 2023

Chiara Hübscher, Susanne Hensel-Börner and Jörg Henseler

Given the pressing global challenges underpinning the United Nations’ Sustainable Development Goals, marketing managers can no longer focus only on purely economic outcomes but…

2264

Abstract

Purpose

Given the pressing global challenges underpinning the United Nations’ Sustainable Development Goals, marketing managers can no longer focus only on purely economic outcomes but must simultaneously respond to social and environmental concerns. This requires the teaching of new competencies in marketing education, as also reflected in today’s accreditation requirements for business schools. Therefore, this paper aims to explore how current research into marketing education incorporates sustainable development.

Design/methodology/approach

Through a bibliometric literature review – examining 71 publications using the bibliographic coupling method – the current research front in marketing education is analysed.

Findings

This paper identifies seven trending topics in marketing education research that both highlight a currently prevalent sustainability gap in marketing education research and – when combined into a framework – help marketing education researchers and educators to address this gap.

Originality/value

This paper extends the already established concept of education for sustainable development to include the concept of marketing education for sustainable development (MESD) for the first time. The MESD framework combines its raison d’être with guidance on how sustainable development should be taught and what the learning objectives should be for future marketing managers.

Propósito

Dados los apremiantes retos mundiales que sustentan los Objetivos de Desarrollo Sostenible (ODS) de las Naciones Unidas, los directores de marketing ya no pueden centrarse únicamente en los resultados puramente económicos, sino que deben responder simultáneamente a las preocupaciones sociales y medioambientales. Esto requiere la enseñanza de nuevas competencias en la educación de marketing, como también se refleja en los requisitos de acreditación actuales para las escuelas de negocios. Por lo tanto, este documento explorará cómo la investigación actual sobre la educación en marketing incorpora el desarrollo sostenible.

Metodología

A través de una revisión bibliométrica de la literatura -examinando 71 publicaciones mediante el método de acoplamiento bibliográfico- se analiza el frente actual de la investigación en educación en marketing.

Resultados

En este artículo se identifican siete temas de tendencia en la investigación sobre educación en marketing que ponen de manifiesto una laguna en materia de sostenibilidad que prevalece actualmente en la investigación sobre educación en marketing y que, combinados en un marco, ayudan a los investigadores y educadores en educación en marketing a abordar esta laguna.

Originalidad

Este artículo amplía el concepto ya establecido de Educación para el Desarrollo Sostenible (EDS) para incluir por primera vez el concepto de Educación en Marketing para el Desarrollo Sostenible (EMDS). El marco EMDS combina su razón de ser con orientaciones sobre cómo debe enseñarse el desarrollo sostenible y cuáles deben ser los objetivos de aprendizaje para los futuros directores de marketing.

目的

鉴于联合国可持续发展目标(SDG)所依据的紧迫的全球挑战, 营销经理不能再只关注纯粹的经济成果, 而必须同时应对社会和环境问题。这就要求在营销教育中教授新的能力, 这也反映在当今商学院的认证要求中。因此, 本文将探讨目前对市场营销教育的研究是如何纳入可持续发展的。

方法

通过文献计量学文献综述–使用文献耦合法对71份出版物进行研究–分析了当前市场营销教育的研究前沿。

研究结果

本文确定了营销教育研究中的七个趋势性课题, 这些课题既突出了当前营销教育研究中普遍存在的可持续发展差距, 又–当结合成一个框架–帮助营销教育研究者和教育者解决这一差距。

原创性

本文扩展了已经建立的可持续发展教育(ESD)的概念, 首次将可持续发展的营销教育(MESD)的概念纳入其中。MESD框架将其存在的理由与指导如何教授可持续发展以及未来营销经理的学习目标相结合。

Article
Publication date: 22 March 2024

Syed Javeed, Gowhar Rasool and Anjali Pathania

The purpose of this study is to consolidate the fragmented research on augmented reality (AR) as a marketing tool and provide a comprehensive understanding of its possible…

Abstract

Purpose

The purpose of this study is to consolidate the fragmented research on augmented reality (AR) as a marketing tool and provide a comprehensive understanding of its possible marketing applications.

Design/methodology/approach

The study conducted a systematic review and bibliometric analysis of 103 papers on AR-marketing to identify the most prevalent topics and conceptual frameworks. Performance analysis and science mapping were utilized to examine the key marketing domains influenced by AR.

Findings

The analysis revealed that AR has had the biggest impact on marketing domains such as consumer acceptability, customer interactivity, retail, and destination marketing.

Practical implications

The results of this study provide organizations with insights into the current state of AR-marketing, enabling them to successfully use AR to improve their marketing strategies. Furthermore, the study highlights potential areas for further research and development in AR for marketing.

Originality/value

This research offers a valuable, comprehensive overview of AR’s role in marketing by systematically reviewing and analyzing the existing literature. The findings open doors for organizations and researchers to explore AR’s potential applications in marketing strategies and future research opportunities.

Details

Marketing Intelligence & Planning, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0263-4503

Keywords

1 – 10 of over 5000