Search results

This study compares the motives of holding cash between developed (Australian) and developing (Malaysian) financial markets.

For the period 2006–2020, the t-test, fixed-effect and generalised method of moment (GMM) model have been applied to a sample of 1878 (1,165 Australian and 713 Malaysian) firms.

The empirical results reveal that firms in developed financial markets hold higher cash compared to the developing financial markets. The findings confirm that motives to hold cash differ between developed and developing financial markets. The GMM findings further show that cash holdings (CH) in Australia are higher due to higher ratios of cash flow, research and development (R&D) and return on assets (ROA), and lower due to larger dividend payments. In the Malaysian market, however, cash flows and R&D are ineffectual, ROA falls and dividend payments rise CH.

The study helps managers, practitioners and investors understand that firms' distinct economic, institutional, accounting and financial environments are important. To attain the desired outcomes, they must thus comprehend and consider these considerations while developing suitable liquidity strategies.

To the authors' best knowledge, this is the initial research demonstrating how varied cash motives and their ramifications are in developed and developing financial markets. Therefore, this study identifies the importance that CH motives varied among financial markets and that findings from a particular market cannot be generalised to other markets because of the market and financial structural variations.

Manufacturers increasingly resort to digital transformation to shape their competitiveness in the digital economy era, while supply chain (SC) collaborative innovation helps them cope with market uncertainties. However, whether and how digital transformation can facilitate SC collaborative innovation remain unclear. To address this gap, we aims to investigate the effects of digital transformation (strategy and capability) on SC collaborative (process and product) innovation and market performance.

We use partial least squares-structural equation modelling (PLS-SEM) with a sample of 210 Chinese manufacturers to investigate the effects of digital transformation (strategy and capability) on SC collaborative (process and product) innovation and market performance.

The results show that digital strategy and capability positively impact SC collaborative process and product innovation, which enhances market performance. In addition, SC collaborative innovation mediates the relationship between digital transformation and market performance.

This study contributes to the literature by identifying how digital transformation drives SC collaborative innovation towards improving market performance and providing practical guidance for enterprises in promoting digital transformation and SC collaborative innovation.

This study aims to identify the major factors influencing the consumers to prefer milk products and also to analyze the awareness level of the Indian consumers.

In this study, the data is obtained through a structured questionnaire from Indian consumers considering convenience sampling under the nonprobability sampling technique. The consumer preference is explained using a multiple-regression model followed by analysis of variance (ANOVA), which shed insight on the significant differences between the variables that influence consumer preference for dairy products.

Investigation is done to analyze the factors influencing the consumers' buying behavior toward milk and its products. The results showed that quality, health consciousness, price and availability are the most influencing factors to buy milk products. Quantity of milk showed a significant relationship between age, monthly income and family size.

This study helps marketing managers to frame the marketing strategies based on consumer preference, quality, health consciousness, price and availability. The research outcome will not only be advantageous for the entrepreneurial perspective but also takes care of consumer likeliness. Though the research reveals the opinion of Indian consumers, it limits the likeliness of the western world. Because of the scarcity of resources, several dairy products are unexplored, which could pave the future scope of research.

The novelty of this study is to identify the quality, health consciousness, price and availability are the most influencing factors to buy milk products considering ANOVA and the multiple regression model.

The operational framework of external financing in the correlation between the gender of entrepreneurs and firm performance remains to be resolved. This study aims to investigate the mediating effect of external financing on gender-based disparities in private firm performance and to explore its heterogeneity within the Chinese context.

Based on national data from the 10th to 13th Chinese Private Enterprise Survey, this study used a bootstrap-based mediation effect model to analyze the role of external financing as a mediator in the relationship between entrepreneur gender and firm performance.

This study found that external financing is a constructive mediator between entrepreneur gender and firm performance. Heterogeneity analysis revealed that external financing plays a complementary mediation role in the impact of entrepreneur gender on performance in West China. In the tertiary industry, external financing acts as the sole mediator for the impact of gender on firm performance. Notably, this mediating effect is present in non-startups but not in startups.

The findings suggest that external financing can improve the firm performance of female entrepreneurs. Governments and policymakers should strengthen financial support for female entrepreneurs in West China, tertiary industry and non-startup enterprises.

This paper contributes to the literature on gender and corporate governance by shedding light on the mediating role of external financing in the relationship between the gender of business owners and firm performance.

The paper's purpose is to investigate the effects of digital finance on the risk of stock price crashes and the underlying transmission mechanisms, and to provide suggestions to inhibit the stock crash risk (CR).

This paper selects all companies that were listed on the Shanghai Stock Exchange and the Shenzhen Stock Exchange from 2011 to 2020. It then uses the two-way fixed effect model and the intermediary effect model to verify such effects.

The overall outcomes demonstrate such a result that the CR of listed companies in China can be significantly reduced by the development of digital finance, and the overall transparency of business financial information and the equity pledge of controlling shareholders are the two underlying transmission mechanisms that digital finance can cause effects on the CR of stocks.

The main limitations are that there may exist some problems in the method for evaluating the CR of stocks. And there may be a problem of endogeneity caused by the empirical model cannot control all correlation variables.

This paper would provide policy implications, for different roles, to inhibit the stock CR and to make the development of the economy more stabilize.

Digital finance can promote economic development while restraining financial risks at the same time. Therefore, although this study is based on the relevant data from China, it can also provide a reference for other economies with different basic conditions from China, to promote the overall development of the world economy.

The current academic research on digital finance or stock price CR has been relatively sufficient, but there are few papers that combined both. By combining digital finance with stock CR, this paper researches the influence of digital finance on the CR of stocks through empirical analysis. So, this paper would provide new research ideas and evidence for potential influence factors of the CR of stocks, fill the gap in this research field and provide certain help for subsequent scholars to conduct relevant research.

The role of labor unions in relation to corporate social responsibility (CSR) remains both ambiguous and crucial for union members and business leaders. Given the complex relationship between labor unions and corporations, this study aims to address whether labor unions keep corporations honest (by monitoring CSR activities) or potentially render CSR initiatives less necessary.

Using data from the MSCI Kinder, Lydenberg, Domini Database for firms in the Russell 1000 Index, this study examines the link between labor unions and CSR in U.S. companies over a six year period. Generalized least squares models were used to test the hypotheses for 3,937 firm-year observations.

The findings show that unionized companies generally pay less attention to CSR compared to nonunionized ones. The presence of labor unions and positive union-management relations both show a significant negative impact on CSR ratings, where positive union-management relations negatively affect CSR ratings more than just the presence of labor unions. Further, when considering the environmental, social and governance aspects of CSR separately, the results are more complex, suggesting that the relationship between labor unions and CSR varies depending on specific ESG dimensions.

CSR, a well-researched area, rarely addresses the companies' relationships with labor unions. Studies in South Korea and the UK have touched on the impact of labor unions on CSR, but in the USA it remains unexplored. This study extends this line of work by examining U.S. companies.

This study aims to examine the links between carbon emissions, electric vehicles, economic growth, energy use, and urbanisation in 15 countries from 2010 to 2020.

This study adopts seminal panel methods of moments quantile regression with fixed effects to trace the distributional aspect of the relationship. The reliability of methods is confirmed via fully modified ordinary least squares coefficients.

This study reveals that fossil fuel use, economic activity, and urbanisation negatively impact environmental quality, whereas renewable energy sources have a significant positive long-term effect on environmental quality in the selected panel of countries.

The main limitation of this study is the generalisability of the findings, as the study is confined to a limited number of countries, and focuses on non-renewable and renewable energy sources.

Finally, this study proposes several policy recommendations for decision-makers and policymakers in the 15 nations to address climate change, boost sales of electric vehicles, and increase the use of renewable energy sources.

This study calls for a comprehensive transition towards green energy in the transportation sector, enhancing economic growth, fostering employment opportunities, and improving environmental quality.

The purpose of this study is to reveal the dynamics of house prices and sales in spatial and temporal dimensions across British regions.

This paper incorporates two empirical approaches to describe the behaviour of property prices across British regions. The models are applied to two different data sets. The first empirical approach is to apply the price diffusion model proposed by Holly et al. (2011) to the UK house price index data set. The second empirical approach is to apply a bivariate global vector autoregression model without a time trend to house prices and transaction volumes retrieved from the nationwide building society.

Identifying shocks to London house prices in the GVAR model, based on the generalized impulse response functions framework, I find some heterogeneity in responses to house price changes; for example, South East England responds stronger than the remaining provincial regions. The main pattern detected in responses and characteristic for each region is the fairly rapid fading of the shock. The spatial-temporal diffusion model demonstrates the presence of a ripple effect: a shock emanating from London is dispersed contemporaneously and spatially to other regions, affecting prices in nondominant regions with a delay.

The main contribution of this work is the betterment in understanding how house price changes move across regions and time within a UK context.

The integration of social media and e-commerce has resulted in a rising phenomenon among individual content providers (ICPs), who used to offer free content, to provide consumers with paid content, such as online courses, Q&As or consultations. Despite the prevalence of ICPs’ content monetization, empirical research has rarely studied its underlying mechanism. This paper examines how the characteristics of free content contributed by ICPs on social media platforms influence their paid content sales, focusing on the perspective of human brand.

The empirical setting is an online knowledge exchange platform, where users are allowed to provide free content (e.g. answers) on the social media platform and launch paid content (e.g. lectures) on the e-commerce platform. A machine learning technique is employed to construct measures for the characteristics of free content, and fixed-effects estimation is presented to confirm which factors have a significant influence on the sales of paid content.

The empirical results show that the quality, diversity and expertness of free content have a significant positive impact on the sales of the ICP-paid content, with the brand popularity of ICP playing a mediating role.

This study is the first attempt to demystify the relationship between content contribution and ICPs’ content monetization from the perspective of human brand. The findings validate the effectiveness of the “Selling by Contribution” strategy and provide valuable insights for ICPs and social media platforms.

The purpose of this paper is to study the effects of sports sponsorship on brand equity using two managerially related outcomes: price premium and market share.

This study uses a best–worst discrete choice experiment (BWDCE) and compares the outcome with that of the purchase intention scale, an established probabilistic measure of purchase intention. The total sample consists of 409 fans of three soccer teams sponsored by three different competing brands: Nike, Adidas and Puma.

With sports sponsorship, fans were willing to pay more for the sponsor’s product, with the sponsoring brand obtaining the highest market share. Prominent brands generally performed better than less prominent brands. The best–worst scaling method was also 35% more accurate in predicting brand choice than a purchase intention scale.

Future research could use the same method to study other types of sponsors, such as title sponsors or other product categories.

Sponsorship managers can use this methodology to assess the return on investment in sponsorship engagement.

Prior sponsorship studies on brand equity tend to ignore market share or fans’ willingness to pay a price premium for a sponsor’s goods and services. However, these two measures are crucial in assessing the effectiveness of sponsorship. This study demonstrates how to conduct such an assessment using the BWDCE method. It provides a clearer picture of sponsorship in terms of its economic value, which is more managerially useful.