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Article
Publication date: 15 February 2022

Ramya Rajajagadeesan Aroul, Sanjiv Sabherwal and Sriram V. Villupuram

The purpose of the paper is to examine the relationship between the Environmental, Social and Governance (ESG) performance of Real Estate Investment Trusts (REITs) and their…

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Abstract

Purpose

The purpose of the paper is to examine the relationship between the Environmental, Social and Governance (ESG) performance of Real Estate Investment Trusts (REITs) and their operational efficiency and performance.

Design/methodology/approach

The authors use S&P Global (formerly SNL Real Estate) for the study analyses and examine all publicly traded REITs based in the United States over the 2019–2020 sample period. The authors regress the measures of REIT operational efficiency and operational performance on REIT ESG scores while controlling for REIT characteristics and use an ordinary least squares (OLS) estimation model with heteroscedasticity-robust standard errors. The authors also run additional regressions to examine the implications of operational efficiency on the relationship between ESG and operational performance.

Findings

The authors find that REITs that perform well on the ESG scale have higher operational efficiency. In addition, the authors find that REITs with better ESG scores are associated with better operational performance. Finally, the authors find that the positive association between ESG scores and operational performance is stronger in REITs with higher operational efficiency.

Practical implications

First, the adoption of ESG adds value to the REIT in terms of increased operational performance and efficiency. Second, the value addition of ESG to an REIT is driven by the better operational efficiency of some REITs over the others. Therefore, the authors’ findings suggest that REITs that currently score poorly on ESG performance would first need to focus on all the possible avenues to improve economies of scale and hence operational efficiency. This approach would help ensure that when those REITs adopt ESG initiatives, they get the most bang for their buck.

Originality/value

To the best of the authors’ knowledge, this is the first study that relates operational efficiency and operational performance of REITs to their ESG scores.

Details

Managerial Finance, vol. 48 no. 8
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 1 October 2006

Sajeev Varki, Sanjiv Sabherwal, Albert Della Bitta and Keith M. Moore

The paper seeks to show that marketing and psychology literature can shed light on why investors exhibit preferences for certain price ends. The perspective adopted is that the…

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Abstract

Purpose

The paper seeks to show that marketing and psychology literature can shed light on why investors exhibit preferences for certain price ends. The perspective adopted is that the stock market is a marketplace in which investors, as consumers, buy and sell (i.e. exchange) financial products such as stocks.

Design/methodology/approach

The paper analyzes trading data from the stock exchanges to empirically test propositions about investor behavior vis‐à‐vis certain price ends of interest derived from the marketing and psychology literature.

Findings

Investors, as consumers, favor price‐ends of 0 and 5 more than price‐ends of 9, in that they trade more frequently and more aggressively at these price ends. Further, even price ends of 0 are favored more than odd price ends of 5.

Practical implications

The results of the study shed light on how the cognitive bias of the consumer thwarts the otherwise efficient functioning of the financial market.

Originality/value

The paper uses market‐level data to gain insights into the cognitive process of the individual investor, in addition to teasing out specific biases that have not been identified earlier in the literature. It extends the study of consumer behavior to non‐traditional, but consequential, marketplaces such as the stock market.

Details

Journal of Product & Brand Management, vol. 15 no. 6
Type: Research Article
ISSN: 1061-0421

Keywords

Article
Publication date: 9 May 2008

Sanjiv Sabherwal, Salil K. Sarkar and Ying Zhang

The purpose of this paper is to examine stocks that are most actively discussed by online posters and see if the messages posted about these stocks have information or if they are…

1133

Abstract

Purpose

The purpose of this paper is to examine stocks that are most actively discussed by online posters and see if the messages posted about these stocks have information or if they are just noise.

Design/methodology/approach

This study uses messages posted on TheLion.com, which reports a real time list of the ten most actively discussed stocks. The stocks in this list at the daily market close during 2005‐2006 are examined. An event study is performed to estimate the daily abnormal returns on these stocks. Contemporaneous and lead–lag regressions of abnormal returns against message posting activities are performed.

Findings

Online posters prefer thinly traded micro‐cap stocks. On average, there is an abnormal return of 19.4 per cent on a stock the day it is one of the ten most talked about stocks. The number of messages posted about a stock on a given day is not only positively related with the stock's abnormal return on that day but it also positively predicts the next day's abnormal return.

Research limitations/implications

It may be interesting to examine if the investor sentiment expressed in online messages has predictive power for micro‐cap stocks.

Practical implications

The results provide evidence to regulators that online talk affects stock prices. They show investors that there are inefficiencies in the stock market. They also suggest that corporate managers, especially of small firms, should monitor the stock message boards.

Originality/value

This study focuses on the micro‐cap stocks favored by online posters and finds that online talk has the power to predict the next‐day returns.

Article
Publication date: 4 March 2014

James Campbell Quick, Ann McFadyen and Debra Lynn Nelson

– The purpose of this paper is to develop a theory of preventive health management for high-risk employees, who are the 1-3 percent with a propensity to become dangerous.

Abstract

Purpose

The purpose of this paper is to develop a theory of preventive health management for high-risk employees, who are the 1-3 percent with a propensity to become dangerous.

Design/methodology/approach

The paper reviews the literature and design a prevention model for high-risk employees that relies on primary, secondary, and tertiary surveillance indicators as well as prevention methods. The behaviors of these employees are often not accidental, even if not always intentional.

Findings

Primary prevention through organizational socialization and supervision can reduce emergence of high-risk employees. Early identification through secondary surveillance then prevention of incivility and deviance can deter escalation to violent behavior. When high-risk employees become dangerous and violent, tertiary prevention calls for containment, caregiving, forgiveness, and resilience.

Practical implications

The paper suggests that HR professionals can advance health, well-being, and performance while averting danger and violence by identifying and managing high-risk employees, anticipating their needs, and providing supportive resources and advising.

Originality/value

The paper applies public health prevention to deviant and violent employees.

Details

Journal of Organizational Effectiveness: People and Performance, vol. 1 no. 1
Type: Research Article
ISSN: 2051-6614

Keywords

Article
Publication date: 6 July 2015

Lew Sook-Ling, Maizatul Akmar Ismail and Yuen Yee-Yen

The purpose of this paper is to propose an inclusive research model to overcome the single perspective issues of the previous research which were looking at either on knowledge…

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Abstract

Purpose

The purpose of this paper is to propose an inclusive research model to overcome the single perspective issues of the previous research which were looking at either on knowledge management (KM) activity, information technology (IT) applications or information infrastructure capability (IIC) independently.

Design/methodology/approach

This paper reviewed and categorised five knowledge management (KM) frameworks: first, KM foundation studies; second, resource-based view studies; third, IIC studies; fourth, competitive advantage (CA) studies; fifth, organisational information processing theory studies to propose research model. Case studies based on face-to-face interviews were conducted to empirically analyse the proposed research model.

Findings

An inclusive research model was suggested to redress the key limitation of past studies in this research field.

Research limitations/implications

Since Asian countries are at present heading for the creation of a knowledge economy, the present study is important to assist government and researchers to develop the most suitable information infrastructure for effective KM in the organisation. The research model proposed by the present study can also become a key reference to the governments and researchers in other developing countries towards the creation of knowledge economy.

Practical implications

The model proposed by the present study will help organisations to examine the performance of their current information infrastructure towards developing new business processes, techniques and decisions for effective KM in the organisations.

Originality/value

The present study is one of the pioneer studies that integrating important IICs such as the integrating capability, data management capability, security capability, utility capability and collaborating capability in the research framework to assist knowledge-based companies to enhance current KM practices and attain long-term CA.

Details

International Journal of Operations & Production Management, vol. 35 no. 7
Type: Research Article
ISSN: 0144-3577

Keywords

Article
Publication date: 14 March 2022

Shaobo Wei, Jinmei Yin and Wei Chen

Drawing on the dynamic capabilities theory, this paper proposes that supply chain (SC) strategies (i.e. the lean SC and agile SC strategies) will mediate the relationship between…

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Abstract

Purpose

Drawing on the dynamic capabilities theory, this paper proposes that supply chain (SC) strategies (i.e. the lean SC and agile SC strategies) will mediate the relationship between big data analytics (BDA) and SC performance. Furthermore, from the perspective of strategic alignment, this study hypothesizes that the effect of the SC strategy on SC performance is differently moderated by the information system (IS) strategy (i.e. the IS innovator and IS conservative strategies).

Design/methodology/approach

This study used 159 match-paired questionnaires collected from Chinese firms to empirically test the hypotheses.

Findings

Results show the positive direct and indirect impact of BDA on SC performance. Specifically, the lean and agile SC strategies mediate the relationship between BDA and SC performance. Furthermore, the results indicate that the IS innovator and IS conservative strategies differentially moderate the effect of the lean and agile SC strategies on SC performance. Specifically, the IS innovator strategy positively moderates the effect of the agile SC strategy on SC performance. By contrast, the IS conservative strategy positively moderates the effect of the lean SC strategy on SC performance but negatively moderates the effect of the agile SC strategy on SC performance.

Originality/value

This study provides a comprehensive understanding of how SC and IS strategies can help firms leverage BDA to improve SC performance.

Details

The International Journal of Logistics Management, vol. 33 no. 2
Type: Research Article
ISSN: 0957-4093

Keywords

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