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1 – 10 of 15Muhammad 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.
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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.
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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.
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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.
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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.
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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…
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.
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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.
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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.
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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.
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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.
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