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Article
Publication date: 3 October 2023

Muhammad Aftab, Saman Shehzadi and Fiza Qureshi

This research intends to investigate the impact of economic policy uncertainty (EPU) on the firm's leverage and its adjustment speed.

Abstract

Purpose

This research intends to investigate the impact of economic policy uncertainty (EPU) on the firm's leverage and its adjustment speed.

Design/methodology/approach

This study applies dynamic panel data modeling by using a partial adjustment model. The study is based on secondary data of the non-financial firms that are listed on the Pakistan stock exchange. For the analysis purpose, the study applies the generalized method of moments (GMM) estimation technique and uses a newly developed text-based measure of economic policy uncertainty.

Findings

The results show the negative impact of EPU on leverage decisions but a positive impact of EPU on leverage speed of adjustment for both, short-run and long-run economic policy shocks. Additional analysis reveals that the negative influence of long-run policy shocks on leverage decisions is moderated through profitability, and the negative influence of short-run policy shocks on leverage is moderated through firm size, tangibility and available growth prospects. However, the significant positive impact of EPU on the leverage speed of adjustment in both short and long-term policy shocks indicates that the speed of adjustment for these firms is not affected by policy shocks.

Originality/value

This research contributes to the existing literature on capital structure dynamics,by investigating the impact of EPU on firm financing decisions and estimating the adjustment speed of capital structure in a developing market context. The study also extends the existing literature by applying the concept of long-run and short-run economic policy uncertainty in the capital structure dynamic framework. Additionally, the new news-based measure of EPU is used. Moreover, it also looks into the COVID-19 effect on the relationship.

Details

Asia-Pacific Journal of Business Administration, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1757-4323

Keywords

Article
Publication date: 28 December 2022

Junaid Aftab, Monica Veneziani, Huma Sarwar and Muhammad Ishtiaq Ishaq

Entrepreneurial orientation is among the vital factors that contribute to performance, especially for small and medium-sized enterprises (SMEs). However, the empirical studies…

Abstract

Purpose

Entrepreneurial orientation is among the vital factors that contribute to performance, especially for small and medium-sized enterprises (SMEs). However, the empirical studies provide mixed results and call for new studies to examine this relationship. Therefore, this study aims to determine the entrepreneurial orientation's (EO) direct and indirect impact (via entrepreneurial competencies) on firm performance. Additionally, the moderating role of environmental dynamism is also tested in entrepreneurial competencies and firm performance relationships.

Design/methodology/approach

The data (N = 332) were collected from managerial rank employees, using a self-administered questionnaire, working in different SMEs in Pakistan. In addition, structural equation modeling (SEM) was executed using SmartPLS 3.2.

Findings

The study's results demonstrate that EO positively influences entrepreneurial competencies and firm performance, and entrepreneurial competencies also mediate the relationship between EO and performance. Additionally, environmental dynamism strengthens the positive relationship between entrepreneurial competencies and performance.

Originality/value

This study identifies that entrepreneurial competency is the missing link between EO and firm performance, due to which the relationship between them is indecisive. This study also contributes to the contingency perspective by explaining the role of environmental dynamism as a boundary condition in strengthening the relationship between entrepreneurial competencies and SMEs' performance in an emerging economy.

Details

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

Keywords

Article
Publication date: 2 May 2024

Junaid Saeed, Nasir Mehmood, Saima Aftab, Sobia Irum and Ashfaq Muhammad

There is a growing need to promote and practice sustainable HRM to foster greener organizations with trained employees who have an attitude and behavior to preserve depleting…

Abstract

Purpose

There is a growing need to promote and practice sustainable HRM to foster greener organizations with trained employees who have an attitude and behavior to preserve depleting resources. The purpose of this study is to highlight the importance of sustainable green human resource management (Green HRM) practices along with organizational identification (OI) as a mediating factor and perceived organizational support (POS) as a moderating factor.

Design/methodology/approach

Quantitative methodology was used, and the data were collected from 311 employees working in telecommunication organizations located in the twin cities of Rawalpindi and Islamabad, Pakistan. Results of the study are based on the structural equation modeling technique using Smart-PLS.

Findings

Findings revealed that OI proved to be a significant positive mediator between Green HRM and organizational citizenship behaviors for the environment. POS also proved to be a significant moderator on the relationship between Green HRM and OI.

Research limitations/implications

The study is limited to the two cities of Pakistan; future studies can focus on more cities so that the results can be more generalized.

Practical implications

This study will especially be useful for HR practitioners to develop mechanisms to initiate and encourage sustainable HR practices.

Social implications

Organizations’ positive position is established through the inculcation of green activities among their employees. Thus, a sense of responsibility and attachment among employees toward green behavior makes them good citizens. It also works well for their organization as well as for the environment. Moreover, it preserves environmental resources and helps ensure sustainability.

Originality/value

The research paper was aimed at exploring the importance of sustainable Green HRM practices in a developing country like Pakistan.

Details

foresight, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-6689

Keywords

Article
Publication date: 17 April 2024

Jahanzaib Alvi and Imtiaz Arif

The crux of this paper is to unveil efficient features and practical tools that can predict credit default.

Abstract

Purpose

The crux of this paper is to unveil efficient features and practical tools that can predict credit default.

Design/methodology/approach

Annual data of non-financial listed companies were taken from 2000 to 2020, along with 71 financial ratios. The dataset was bifurcated into three panels with three default assumptions. Logistic regression (LR) and k-nearest neighbor (KNN) binary classification algorithms were used to estimate credit default in this research.

Findings

The study’s findings revealed that features used in Model 3 (Case 3) were the efficient and best features comparatively. Results also showcased that KNN exposed higher accuracy than LR, which proves the supremacy of KNN on LR.

Research limitations/implications

Using only two classifiers limits this research for a comprehensive comparison of results; this research was based on only financial data, which exhibits a sizeable room for including non-financial parameters in default estimation. Both limitations may be a direction for future research in this domain.

Originality/value

This study introduces efficient features and tools for credit default prediction using financial data, demonstrating KNN’s superior accuracy over LR and suggesting future research directions.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 18 March 2024

Muhammad Hamid Shahbaz, Sajjad Ahmad and Shahab Alam Malik

This study aims to explore green practices within small and medium-sized enterprises (SMEs) and their implications for determining environmental performance. Targeting SMEs in…

Abstract

Purpose

This study aims to explore green practices within small and medium-sized enterprises (SMEs) and their implications for determining environmental performance. Targeting SMEs in Pakistan, the study examines the influence of green intellectual capital (GIC), innovation and creativity on environmental performance.

Design/methodology/approach

A comprehensive survey addressed top, middle, and lower-level managerial perspectives. A sample of 243 respondents was statistically selected, and the survey questionnaire was used to measure the key constructs of the study. Using a 5-point Likert scale, the study captured the respondents' insights regarding green practices. Data analysis was executed using SPSS for descriptive tests and Smart-PLS 4 for advanced structural equation modeling (SEM).

Findings

GIC significantly enhances green innovation within SMEs, leading to improved environmental performance. Green creativity is a crucial moderator, indicating that SMEs have higher creative approaches to counter environmental challenges. These findings accentuate the importance of fostering an environment that stimulates green creativity to uplift GIC in achieving environmental performance.

Originality/value

The study offers a profound understanding of how SMEs in Pakistan leverage GIC to elevate their environmental performance, thereby providing strategic insights for businesses aiming for sustainable growth.

Details

International Journal of Innovation Science, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1757-2223

Keywords

Open Access
Article
Publication date: 31 December 2021

Muhammad Junaid Shahid Hasni, Maya F. Farah and Ifraaz Adeel

This paper aims to analyze the adoption of social media platforms by tourists in Pakistan. Based on an adaptation of the technology acceptance model (TAM), this study assesses the…

4453

Abstract

Purpose

This paper aims to analyze the adoption of social media platforms by tourists in Pakistan. Based on an adaptation of the technology acceptance model (TAM), this study assesses the factors that lead users to adopt these platforms.

Design/methodology/approach

A survey was administered to a convenience sample of 399 travelers who use social media in Pakistan. A Confirmatory factor analysis was conducted using AMOS to evaluate convergent and discriminant validity as well as composite reliability. Structural equation modeling was applied to examine the causal relationship among all proposed constructs.

Findings

The findings reveal that the perceived usefulness (PU) and perceived ease of use (PEoU) of a social media platform positively impact the behavioral intention of its users. The proposed constructs of compatibility, enjoyment, user expertise and e-trust all demonstrated their crucial roles in the adoption of a social media platform for tourism-related activities by enhancing the platform's PEoU and usefulness.

Originality/value

This research validates the relationship between PEoU and PU of a social media platform in the hospitality industry. Interestingly, this study has expanded TAM by validating the addition of four more constructs, (1) compatibility, (2) enjoyment, (3) e-trust, and (4) expertise, to add worth to this model regarding the understanding of social media usage in this specific industry. The findings are valuable both for managers and policymakers in the tourism sector in Pakistan, as the latter can utilize the results to entice a larger segment of social media users to the tourism industry.

Details

Journal of Tourism Futures, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2055-5911

Keywords

Article
Publication date: 21 March 2024

Muhammad Hafeez, Ida Yasin, Dahlia Zawawi, Shoirahon Odilova and Hussein Ahmad Bataineh

This study aims to investigate the effect of organizational ambidexterity (OA) and organizational green culture (OGC) on corporate sustainability (CS) while incorporating the…

Abstract

Purpose

This study aims to investigate the effect of organizational ambidexterity (OA) and organizational green culture (OGC) on corporate sustainability (CS) while incorporating the mediating role of green innovation (GI) to provide a detailed insight into CS. The study also presents a research framework based on the Organizational Ambidexterity theory and Natural Resource-based view to explain the factors contributing to CS.

Design/methodology/approach

Using stratified sampling, the study collected data through survey-based empirical research from 307 textile companies registered with the Securities and Exchange Commission of Pakistan (SECP) or the All-Pakistan Textile Mills Association (APTMA). The collected data were analysed using path analysis, mediation analysis and moderation analysis through smart PLS-SEM version 4.0 to assess the composition and causal association of factors.

Findings

The study found a significant relationship between OA and OGC with CS. Furthermore, the study revealed that green innovation partially mediates the relationship between OGC and CS. The proposed research framework can be valuable for promoting and recommending actions to enhance CS.

Research limitations/implications

The study on CS in the textile sector of Pakistan has limitations such as a narrow focus, cross-sectional design and reliance on self-reported data. Future research should explore additional factors, conduct longitudinal research, investigate contextual factors, scrutinize specific green innovation practices and broaden the scope of the study to include SMEs and other textile organizations.

Practical implications

The research framework can help senior executives to foster CS by promoting OGC, OA and GI. Practitioners and academicians can also utilize or further investigate the proposed framework for validation and to foster CS.

Originality/value

This study fills gaps in the existing literature by investigating the mediating effect of GI between OGC and CS. The proposed research framework provides a comprehensive understanding of the factors contributing to CS based on the Organizational Ambidexterity theory and Natural Resource-based view.

Details

European Journal of Innovation Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1460-1060

Keywords

Article
Publication date: 16 April 2024

Syed Muhammad Ali Shahbaz Habib, Mahwish Sindhu and Irfan Saleem

Drawing upon social exchange theory, this research investigates the interplay of corporate philanthropy, environmental marketing strategy, relationship quality, greenwashing, and…

Abstract

Purpose

Drawing upon social exchange theory, this research investigates the interplay of corporate philanthropy, environmental marketing strategy, relationship quality, greenwashing, and customer citizenship behavior in the family-owned hotels of an emerging market.

Design/methodology/approach

A field survey questionnaire was used to gather the data from 394 hotel customers by randomly selecting three premium family-owned hotels in Lahore: Faletti’s, Avari, and Holiday Inn. The data was analyzed using the structural regression modeling (SRM) technique with the assistance of AMOS version 24.

Findings

The results show that corporate philanthropy and environmental marketing strategy positively influence relationship quality, and relationship quality positively influences customer citizenship behavior. Relationship quality partially mediates the association between corporate philanthropy and customer citizenship behavior, but we found that greenwashing does not have a moderating role.

Research limitations/implications

This research has theoretical implications for marketing scholars and practical implications of family-owned hotels in emerging markets.

Originality/value

The study has contributed contextually by collecting a unique dataset from family-owned hotels in an emerging market. Theoretically, we have conceptualized a model through the Social Exchange Theory by recommending relationship quality as a mediator and greenwashing as a moderator.

Details

Asia Pacific Journal of Marketing and Logistics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-5855

Keywords

Article
Publication date: 18 July 2023

Muhammad Waqas, Tehreem Fatima and Zafar Uz Zaman Anjum

Taking job demand-resource (JD-R) and self-determination perspective, the current study focused to see how basic need satisfaction (BNS) – as a personal demand – impacts work…

Abstract

Purpose

Taking job demand-resource (JD-R) and self-determination perspective, the current study focused to see how basic need satisfaction (BNS) – as a personal demand – impacts work engagement directly and indirectly through personal resource (i.e. self-efficacy). Moreover, the aim was to test the dimension-wise impact of BNS, i.e. the need for autonomy, need for belongingness and need for competence in the aforementioned relationship.

Design/methodology/approach

This research is a time-lagged survey in which three-wave data of 398 white-collar employees were collected from the service and manufacturing sector of Pakistan through convenience sampling. Each wave of data collection was two months apart. The matched responses yielded an overall response rate of 66.33%. The collected responses were duly analysed using partial least squares structural equation modeling (PLS-SEM).

Findings

Results of the study confirmed all direct and indirect hypotheses encompassing the impact of the combined BNS construct on work engagement via self-efficacy. Nonetheless, in the dimension-wise analysis, the indirect impact of the need for job autonomy on work engagement was not validated. This depicted that the need for competence and relatedness are more important predictors of work engagement through the self-efficacy path.

Originality/value

It has been observed that prior research on work engagement was mainly focused on the role of job demands (JDs) and personal resources; however, the role of personal demands along with personal resources has little been discussed. The authors tested the total as well as the specific impact of each component of basic need on work engagement making it possible to examine the total predicting role of basic need satisfaction and the specific contribution of satisfaction of each need on work engagement.

Details

Asia-Pacific Journal of Business Administration, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1757-4323

Keywords

Article
Publication date: 26 October 2021

Muhammad Umar and Muhammad Akhtar

This study aims to investigate the relationship between financial inclusion and risk-taking by Chinese banks.

Abstract

Purpose

This study aims to investigate the relationship between financial inclusion and risk-taking by Chinese banks.

Design/methodology/approach

It uses the panel data from Chinese banks ranging from 2011 to 2019 and applies system generalized method of moments to measure coefficients. To get in-depth understanding of the relationship between above-mentioned variables, the analysis for commercial, cooperative, listed, unlisted, small and large banks has been done. Financial inclusion index has been measured based on demographic and geographic aspects by using the principal component analysis, and bank risk-taking has been proxied by z-score.

Findings

The findings reveal an inverse relationship between financial inclusion and bank risk-taking which implies that an increase in financial inclusion results in lesser risk for the banks, i.e. diversification hypothesis applies. However, the results for unlisted and large banks show a different story where an increase in financial inclusion results in higher bank risk and vice versa.

Originality/value

The present study offers several valid and convincing implications for consumers, policymakers and banking sector regulators.

Details

China Finance Review International, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-1398

Keywords

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