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1 – 10 of 13Vaishali Kaushal and Rajan Yadav
Despite the severe impact of the COVID-19, Maldives was one of the top destinations which witnessed decent tourist arrival amid the pandemic. This study aims to analyze luxury…
Abstract
Purpose
Despite the severe impact of the COVID-19, Maldives was one of the top destinations which witnessed decent tourist arrival amid the pandemic. This study aims to analyze luxury hospitality experiences of guests amid COVID-19 pandemic.
Design/methodology/approach
This study is exploratory in nature. This study analyses 4,302 real-time customer reviews using sentiment and thematic analysis with the help of NVIVO 12 plus and Leximancer.
Findings
The findings suggest travel products as well as services associated with luxury resorts needs to be revisited. Staff needs to be more professional and must be proactive while redesigning services specially in situations like pandemic. While redesigning services in situations like pandemic, staff needs to be proactive, professional and must follow all protocols. Major negative experiences included long waiting time to avail frill services, privacy intrusion by bloggers and influencers, service quality issues. We recommend enhancing service quality followed by investing more in training and development, increasing the number of foreign languages spoken by staff and disseminating localized culinary experiences will enhance the experience quality with guests.
Research limitations/implications
This study has several limitations: first, this study limited itself to 15 luxury resorts of Maldives, which may not serve as a true representation of all luxury resorts of Maldives. The next limitation of this study is that the authors have collected customer reviews from TripAdvisor only, and the reviews were only in English language.
Practical implications
The findings of the research can be beneficial for the policymakers, hospitality practitioners and academicians who study luxury tourism industry to carve appropriate strategies for enhancing the customers’ luxury experience like leveraging customization in all areas and enhancing service quality, food quality, training and development of employees.
Originality/value
Maldives has become one of the most expensive traveler destinations and is home to world’s most expensive resorts. This study is original in nature and has a forward-looking approach which studies the disruptive effect of pandemic, intangible nature of luxury as a concept can be used by hospitality industry to redesign the luxury customer experience which can improve marketing strategies aiming to potentiate this niche. In addition, to the best of the authors’ knowledge, this study will be the first one to capture the real customer experiences of luxury resorts of Maldives.
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Neeraj Jain and Smita Kashiramka
This study aims to investigate the effects of peers on corporate payout policies in one of the largest emerging markets – India. It also examines the motives for mimicking payout…
Abstract
Purpose
This study aims to investigate the effects of peers on corporate payout policies in one of the largest emerging markets – India. It also examines the motives for mimicking payout decisions.
Design/methodology/approach
The sample is composed of 3,024 non-financial and non-government firms listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) for the period 1995 to 2020. To encounter the endogeneity problem, the instrumental variable technique based on peer firms' idiosyncratic risk is used to estimate the effects of peers on firms' payout policy. To define peer reference groups, the authors use the basic industry classification of the firms.
Findings
The results indicate a significant positive impact of peers on firms' dividend policies in India. A firm with all dividend-paying peers is more likely to declare dividends than the one with no dividend-paying peers. Further, peer effects are found to be more pronounced amongst larger and older firms, thus supporting the rivalry theory of mimicking.
Originality/value
To the best of the authors' knowledge, the present study is the first of its kind that attempts to understand peer effects on payout decisions in an emerging market India, that offers a unique institutional setting. Moreover, the authors extend the existing literature by investigating the peer effects on a firm's payout policies considering various firm-level characteristics, such as growth opportunity, cash holding, financial constraint and profitability, which previous studies have not taken into consideration. These results provide additional insights into the heterogeneity and motives behind peer effects.
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Debapriya Samal and Inder Sekhar Yadav
This study investigates the effects of elements of corporate governance along with firm specific variables on the financial leverage of listed Indian firms in the context of…
Abstract
Purpose
This study investigates the effects of elements of corporate governance along with firm specific variables on the financial leverage of listed Indian firms in the context of agency conflicts and new governance laws.
Design/methodology/approach
A series of panel ordinary least squares as well as fixed/random effects regression models of book and market value of financial leverage on variables of corporate governance (board size, board composition, board meeting, board attendance and board gender) along with a set of control variables (asset tangibility, firm size, growth, liquidity and profitability) were estimated by employing 113 listed Indian firms during 2010–2021. Dynamic panel generalized method of moments models were also estimated to check the robustness of empirical results. Further, the full sample of firms was divided into small and large board sized companies using the median approach to investigate differences between small and large board characteristics on financial leverage.
Findings
The evidence predominantly suggested that the governance variables have significant impact on leverage ratios of selected firms. Governance variables such as board size, composition, attendance and gender are significantly found to be reducing the financial leverage of firms indicating that in general these attributes in a way, through monitoring managers, put pressure on them to pursue lower financial leverage. Board meeting is found to be positive and significantly related with financial leverage suggesting that the frequency of meetings signals its monitoring ability that may influence lenders' risk assessment lowering borrowing cost. The results on small and large board sized companies indicate that firms with small boards relatively issue more debt compared to firms with large boards suggesting that small boards adopt high debt policy.
Practical implications
The main policy implication of the study is that elements of internal corporate governance is a significant governance tool that has the potential to reduce agency conflict between the managers and agents through monitoring and decision making that has tangible effects on critical corporate decisions such as capital structure choices.
Originality/value
This paper contributes to the existing literature by bringing new evidence relating to agency conflicts and capital structure decisions in an emerging market like India post adoption of new regulations related to corporate governance specified in Clause 49 of Securities and Exchange Board of India and Companies Act, 2013 as there is significant dearth of such empirical work.
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Krishna Muniyoor and Rajan Pandey
Farmers producer organisations (FPOs) play the most crucial role in the agriculture supply chain system, aiming to redress the balance between farming and marketing activities of…
Abstract
Purpose
Farmers producer organisations (FPOs) play the most crucial role in the agriculture supply chain system, aiming to redress the balance between farming and marketing activities of agricultural produce. The purpose of this study is to assess the performance of FPOs using data envelopment analysis (usually referred to as DEA) on 34 FPO units selected from the state of Rajasthan.
Design/methodology/approach
One of the most commonly used techniques to examine business performance is the application of DEA. The application of DEA requires the selection of inputs and outputs. This study takes three inputs and three outputs based on the insights drawn from the field survey. While the input variables consist of total assets, paid-up capital and the number of economic activities, the three output variables are turnover, net profit and number of members benefitted. Broadly, these variables encapsulate the operational performance of the business units.
Findings
This study’s findings reveal that the estimated relative efficiency score of the input-oriented CCR (Charnes, Cooper, and Rhodes) model ranges from 0.06 to 1. Interestingly, only one FPO has reported a relative efficiency (RE) score of one, whereas the remaining FPOs fall below the efficiency frontier. However, 15 FPOs report an RE score of one in the output-oriented CCR approach. Considering the estimates obtained in the input- and output-oriented BCC (Banker, Charnes and Cooper) models, this study found that about 20% of the FPOs report an efficiency score greater than 0.80. Moreover, three FPOs are on the frontier line. An examination of the scale efficiency score in the input-oriented model, 45% of the FPOs have an efficiency score greater than 0.80, whereas almost all FPOs achieve a scale efficiency score greater than 0.80 in the output-oriented model. Overall, the results imply that the FPOs should place greater emphasis on the efficient utilisation of the inputs to enhance the overall business performance and productivity.
Research limitations/implications
The findings of this study provide vital insights into the specific inputs and outputs that determine the performance efficiency of FPOs and identify the potential areas for improving the existing inefficient FPOs.
Originality/value
This study contributes to the repository of the existing empirical studies in three distinct ways. First, the authors hardly found any previous studies that quantitatively assess the business performance of FPOs using the DEA technique. Second, the effort to identify the slacks associated with each input and output variable in input- and output-oriented models gives insights on improvable areas for inefficient FPOs. Third, the authors attempt to demystify the empirical obfuscations by highlighting the major challenges FPOs face in the state of Rajasthan.
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Georgy Sunny and T. Palani Rajan
The purpose of the study is to optimize the blending ratio of Arecanut and cotton fibers to create yarn with the best quality for various applications, particularly home…
Abstract
Purpose
The purpose of the study is to optimize the blending ratio of Arecanut and cotton fibers to create yarn with the best quality for various applications, particularly home furnishings. The study aims to determine the effect of different blend ratios on the physical and mechanical properties of the yarn.
Design/methodology/approach
The study involves blending Arecanut and cotton fibers in various ratios (90:10, 75:25, 50:50, 25:75 and 10:90) at two different yarn counts (10/1 and 5/1). Various physical and mechanical properties of the blended yarn are analyzed, including unevenness, coefficient of mass variation (cvm%), imperfection, hairiness, breaking strength, elongation, tenacity and breaking work.
Findings
The research findings suggest that the blend ratio of 10:90 (10% cotton and 90% Arecanut fiber) produced the best results in terms of physical and mechanical properties for both yarn counts. This blend ratio resulted in reduced unevenness, cvm% and imperfection, while also exhibiting good mechanical properties such as breaking strength, elongation, tenacity and breaking work. The blend with a higher concentration of cotton generally showed better properties due to the coarseness of Arecanut fiber. As the goal of the study was to determine the best blend ratio that included the most Arecanut fiber based on its physical and mechanical properties, which is suitable for home furnishing applications, 75:25 Areca cotton blend ratio of yarn count 5/1 proved to be the best.
Research limitations/implications
The study acknowledges that Arecanut fiber must be blended with other commercially used fibers like cotton due to its coarseness. While the study provides insights into optimizing blend ratios for home furnishings and packaging, further research may be needed to make the material suitable for clothing applications.
Practical implications
The research has practical implications for industries interested in utilizing Arecanut and cotton blends for various applications, such as home furnishings and packaging materials. It suggests that specific blend ratios can result in yarn with desirable properties for these purposes.
Social implications
The study mentions that the increased use of Arecanut fibers can benefit the growers of Arecanut, potentially providing economic opportunities for communities engaged in Arecanut farming.
Originality/value
The research explores the utilization of Arecanut fibers, an underutilized resource, in combination with cotton to create sustainable yarn. It assesses various blend ratios and their impact on yarn properties, contributing to the understanding of eco-friendly textile materials.
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Manali Chatterjee, Titas Bhattacharjee and Bijitaswa Chakraborty
This paper aims to review, discuss and synthesize the literature focusing on the Indian initial public offering (IPO) market. Understanding the Indian IPO market can help answer…
Abstract
Purpose
This paper aims to review, discuss and synthesize the literature focusing on the Indian initial public offering (IPO) market. Understanding the Indian IPO market can help answer broader corporate finance questions. The growing number of IPOs in the Indian context, coupled with the increasing importance of the Indian economy in the global market, makes this review an essential topic.
Design/methodology/approach
The systematic literature review methodology was adopted to review 111 papers published between 2002 and 2021. The authors used the Preferred Reporting Items for Systematic Reviews and Meta-Analyses approach during the review process. Additionally, the authors use a bibliometric review methodology to examine the pattern and trend of research in this area of interest. Furthermore, the authors conduct a critical review and synthesis of the top 20 papers based on citations. The authors also use a co-citation network and manual content analysis method to identify key research themes.
Findings
This review helps in identifying major themes of research in this area of interest. The authors find that majority of the research has focused on IPO performance whereas post-IPO performance needs critical attention as well. The authors develop a comprehensive framework and future research agenda based on their discussion.
Research limitations/implications
Meta-analysis of the literature can be conducted to gain better insights into the findings of prior studies.
Practical implications
This review paper develops a comprehensive overview on Indian IPO market which can be of interest not only to Indian scholarship. India as an economy is increasingly gaining attention at the global level. Hence, the future research objectives as illustrated in the study can be of interest for the global scholarship also.
Originality/value
To the best of the authors’ knowledge, this is the first comprehensive review paper that examines, synthesizes and outlines the future research agenda on Indian IPO studies. This review can be useful for researchers, business policymakers, finance professionals and anyone else interested in the Indian IPO market.
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Mrunal Chavda, Harsh Patel and Hetav Bhatt
This study aims to examine the effectiveness of the Central Board of Secondary Education (CBSE)-based English textbooks and question papers in developing second-language…
Abstract
Purpose
This study aims to examine the effectiveness of the Central Board of Secondary Education (CBSE)-based English textbooks and question papers in developing second-language higher-order thinking skills (HOTS).
Design/methodology/approach
Descriptive analysis establishes a causal relationship between learning objectives and second language (L2) writing proficiency. Content analysis is used to compare and analyze tabulated data for textbooks and question papers for the English language by the National Council of Educational Research and Training (NCERT) and CBSE. This method categorizes the materials and their assessments under HOTS and lower-order thinking skills to ascertain the relationship between learning objectives and L2 writing proficiency.
Findings
The study highlights teaching material and assessment shortcomings and their alignment with learning outcomes to enhance students' writing skills. It underscores the need for HOTS-focused materials, discussing their impact on writing skills. The study also explores how textbook–question paper mismatch hampers Bloom's taxonomy-based cognitive skills.
Practical implications
This research illuminates the efficacy of teaching and learning English as a second language (ESL) writing skills to improve the quality of education, which has real-world implications. The study highlights flaws in the educational system in India and suggests curricular and pedagogical changes.
Originality/value
The research examines NCERT and CBSE ESL textbooks and question papers to align teaching and assessment methods. The results aim to improve education through ESL writers' HOTS.
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Mir Shahid Satar, Raouf Ahmad Rather, Sadia Cheema, Shakir Hussain Parrey, Zahed Ghaderi and Lisa Cain
The business ambiguity because of COVID-19 has brought the tourism industry under stress. Using the service-dominant-logic and elaboration-likelihood-model, this study tested the…
Abstract
Purpose
The business ambiguity because of COVID-19 has brought the tourism industry under stress. Using the service-dominant-logic and elaboration-likelihood-model, this study tested the effects of destination-based cognitive, affective and behavioral customer brand engagement (CBE) on customer brand co-creation (CBC). This research also examined the effects of involvement and CBC on customer revisit intention (CRI) during the COVID-19 pandemic. This study also tested the moderating role of customers’ age among the modeled relationships.
Design/methodology/approach
Investigating these matters, a sample of 315 tourists was recruited and adopted a mixed-method approach, including structural equation modeling (SEM) as well as fuzzy set qualitative-comparative analysis (fsQCA).
Findings
SEM results render that CBE’s dimensions exercise different impacts on CBC, which affect revisit-intention. Results ascertain customer involvement’s direct effects on CBC and revisit intention. Multi-group analysis uncovers that consumer age significantly moderates the CBC and CRI relationship, and their effect increases as consumers get older. The fsQCA results revealed more heterogenous combinations to predict CBC and revisit intention.
Research limitations/implications
This study focuses on CBE, CBC and involvement, and contributes unique insight to tourism marketing research; thus, it identifies plentiful opportunities for further research, as summarized.
Practical implications
This study offers key implications for destinations to build tourism/marketing strategies to strengthen the CBE/CBC or tourist/destination–brand relationship.
Originality/value
Though CBE/CBC and involvement are identified as important research priorities, empirically derived insights among these and related factors remain limited in the course of the COVID-19 crisis.
设计/方法/方法
本文采用结构方程模型(SEM)和模糊集定性比较分析(fsQCA)相结合的方法, 对315名游客进行了调查。
目的
由于新型冠状病毒感染症(COVID-19)产生的业务不定性给旅游业带来了压力。本研究运用服务主导逻辑和精细似然模型, 检验了基于目的地的认知、情感和行为顾客品牌参与(CBE)对顾客品牌共同创造(CBC)的影响。本研究还考察了COVID-19大流行期间参与和CBC对客户重访意愿(CRI)的影响。检验了顾客年龄在模型关系中的调节作用。
调查结果
SEM结果表明, CBE的维度对CBC有不同的影响, 而这种影响又会影响着重游意愿。结果确定了游客参与对CBC和重访意愿的直接影响。多群体分析发现, 消费者年龄显著调节CBC和CRI关系, 且随着消费者年龄的增长, 其作用增强。fsQCA结果显示需更多的异质组合来预测CBC和再访意向。
研究局限/启示
-本研究关注CBE、CBC和参与, 为旅游营销研究提供了独特的见解, 因此总结出了许多进一步研究的机会。
实践意义
本研究为目的地建立旅游/营销策略以加强CBE/CBC或游客/目的地-品牌关系提供了重要启示。
原创性/价值
尽管CBE/CBC和参与被认为重要的研究重点, 但在covid −19危机期间, 从这些因素和相关因素中得出的经验见解仍然有限。
Diseño/metodología/enfoque
Para investigar estas cuestiones, se seleccionó una muestra de 315 turistas y se utilizó un enfoque metodológico mixto que incluía el modelo de ecuaciones estructurales (SEM) y el análisis cualitativo-comparativo de conjuntos difusos (fsQCA).
Objetivo
La confusión empresarial debida a la pandemia del COVID-19 ha sometido al sector turístico a una fuerte tensión. Utilizando la lógica dominante del servicio y el modelo de elaboración de verosimilitud, este estudio examinó los efectos del compromiso cognitivo, afectivo y comportamental del cliente con la marca del destino (CBE) en la cocreación de la marca (CBC). Esta investigación también analizó los efectos de la implicación y la CBC en la intención de revisita (IRC) durante la pandemia COVID-19. Este estudio también evaluó el papel moderador de la edad de los clientes entre las relaciones establecidas.
Conclusiones
Los resultados del SEM muestran que las dimensiones de la CBE ejercen diferentes impactos sobre la CBC, que afectan a la intención de revisita. Los resultados determinan los efectos directos de la implicación del cliente sobre la CBC y la intención de revisita. El análisis multigrupo revela que la edad del consumidor modera significativamente la relación entre el CBC y el IRC, y que su efecto aumenta a medida que los consumidores envejecen. Los resultados del fsQCA revelaron combinaciones más heterogéneas para predecir el CBC y la intención de volver a visitar.
Limitaciones/implicaciones de la investigación
Este estudio se centra en la CBE, la CBC y la implicación, y aporta una visión única a la investigación del marketing turístico, por lo que identifica numerosas oportunidades para futuras investigaciones.
Implicaciones prácticas
Este estudio ofrece implicaciones clave para que los destinos construyan estrategias de turismo/marketing en el fortalecimiento de la relación CBE/CBC o turista/destino-marca.
Originalidad/valor
Aunque la CBE/CBC y la implicación se identifican como importantes prioridades de investigación, las percepciones derivadas empíricamente entre estos factores y otros relacionados siguen siendo limitadas en el transcurso de la crisis del COVID-19.
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Anasuya Kulshekar Lingappa, Lewlyn Lester Raj Rodrigues and Dasharathraj K. Shetty
Women entrepreneurs are often categorized and assessed for various outcomes based on their start-up motivations. It is generally assumed that entrepreneurs with opportunity…
Abstract
Purpose
Women entrepreneurs are often categorized and assessed for various outcomes based on their start-up motivations. It is generally assumed that entrepreneurs with opportunity motivation have better performance when compared to necessity entrepreneurs. This study aims to test these suppositions through the lens of the entrepreneur’s motivation to learn (MTL) and level of female entrepreneurial competencies (FECs), namely, business and management, entrepreneurial, human relations (HR) and personal.
Design/methodology/approach
Data collected from 344 respondents through a survey questionnaire was analyzed using the structural equation modelling – partial least squares method using SmartPLS 4.
Findings
The findings highlight the need of recognizing the differentials between necessity and opportunity entrepreneurs as they were found to influence performance and learning outcomes. Opportunity entrepreneurship was found to significantly impact both MTL and the FECs. The authors also observed that business and management skills along with HR competencies played a greater role in the firm performance.
Practical implications
The findings demonstrate a case for specialized, tailor-made policy approaches rather than the “one size fits all” approach as evident in many government programs. As necessity entrepreneurs form a vital part of the Indian entrepreneurial ecosystem, apart from mentoring, need-based competency development programs may be looked at. Opportunity entrepreneurs may need support and encouragement through advanced skilling and uncomplicated funding options.
Originality/value
To the best of the authors’ knowledge, empirical studies related to women-owned micro, small and medium enterprises in India establishing the relationship between start-up motivation and business performance are scarce. Even in the global context, this is one of the initial studies to examine the relationship through the lens of MTL and competencies.
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Nikhil Rastogi and Satish Kumar
The purpose of this paper is to examine the impact of bankruptcy reform in the year 2016 on the relation between leverage and firm performance for Indian firms, separately for…
Abstract
Purpose
The purpose of this paper is to examine the impact of bankruptcy reform in the year 2016 on the relation between leverage and firm performance for Indian firms, separately for business group and standalone firms.
Design/methodology/approach
Fixed effects panel regression is used to understand the role of bankruptcy reform on firm-level data to examine the relationship between leverage and firm performance after controlling for size, growth, age, liquidity and promoter shareholding. The authors also apply the generalized method of moments (GMM) to control for the endogeneity concerns.
Findings
The authors show that the introduction of the insolvency and bankruptcy code (IBC) positively moderates the relation between leverage and firm performance such that the extent of negative relation between leverage and firm performance is less in the post-IBC period. The positive impact of IBC on the relation between leverage and firm performance holds only for firms not affiliated to business groups and for firms with higher debt in their capital structure.
Practical implications
The study’s findings will help the regulators appreciate the effectiveness of bankruptcy reforms resulting from IBC implementation in terms of sound bankruptcy process and leading to safeguard the interests of minority shareholders.
Originality/value
The authors provide the only study to examine the role of bankruptcy law in moderating the relation between leverage and firm performance across a sample of business group and standalone firms.
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