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1 – 10 of over 6000Weiping Li, Huirong Li, Xuan Sean Sun and Tairan Kevin Huang
The purpose of this paper is to examine the impact of directors’ and officers’ liability insurance (D&O insurance hereafter) on corporate governance and firm performance, with a…
Abstract
Purpose
The purpose of this paper is to examine the impact of directors’ and officers’ liability insurance (D&O insurance hereafter) on corporate governance and firm performance, with a specific focus on investment efficiency.
Design/methodology/approach
Using a sample of Chinese A-share listed firms from the period 2007 to 2020, this study uses Ordinary Least Squares regressions to investigate the research questions, as well as moderating and mediating effects. Additionally, alternative measures of investment efficiency are used, and the Heckman two-stage model and propensity score matching model are used to demonstrate the consistency of the findings and to mitigate the risk of endogeneity.
Findings
The findings of this study suggest that purchasing D&O insurance has a detrimental impact on corporate investment efficiency, particularly in the context of over-investment activities; robust internal governance mechanisms, exemplified by a higher shareholding ratio of the top shareholder and enhanced internal control quality, alleviate this negative effect; and financing constraints act as a mediating factor in the association between D&O insurance and investment efficiency.
Originality/value
Corporate investment efficiency is of significant importance for both national macroeconomic growth and micro-enterprise development. Notably, the prevalence of D&O insurance among Chinese firms is progressively increasing, thus exerting a growing influence. This study contributes to the existing literature on D&O insurance and corporate investment efficiency, providing valuable insights into the economic impact of D&O insurance on Chinese firms. The empirical evidence presented herein facilitates future reforms and adjustments.
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Samira Mili and Carlos Ferro-Soto
This paper aims to identify the antecedents and postcedents of customer satisfaction, including utilitarian, social and emotional factors, in a fair trade (FT) coffee consumption…
Abstract
Purpose
This paper aims to identify the antecedents and postcedents of customer satisfaction, including utilitarian, social and emotional factors, in a fair trade (FT) coffee consumption context.
Design/methodology/approach
This paper is based on a broad range of 177 consumers of FT coffee in Spain, the data analysis used structural equation modeling (SEM) with SPSS/AMOS 26.0 software.
Findings
This paper supports that both customer social value and quality affect perceived value (PV). PV in turn has effects on customer satisfaction and the latter influences loyalty. Conversely, both customer emotional value and customer expectations were not confirmed as antecedents of PV.
Research limitations/implications
The consumer satisfaction analysis conducted differs substantially from those of conventionally traded coffee, as social and emotional factors were considered along with utilitarian factors.
Practical implications
Practitioners, retailers and relevant institutions should design strategies to manage efficiently channel efforts to improve the consumer satisfaction and its loyalty.
Originality/value
This paper contributes to a substantial improvement in the understanding of consumer satisfaction and its consequences, in FT coffee consumption contexts. A new integrated theoretical model on customer satisfaction has been provided, which includes social and emotional perception factors, along with cognitive perception (quality and expectations) factors.
研究目的
研究旨在確認在公平貿易咖啡消費的課題上,顧客滿意的誘因及其後因,這包括實用的因素,社會的因素和情感的因素。
研究設計/方法/理念
研究之數據廣泛來自在西班牙177名公平貿易咖啡消費者; 分析則以結構方程模型,並以SPSS Amos 26軟件來進行。
研究結果
研究結果證實,顧客社會價值和質量是會影響認知價值的;認知價值繼而影響顧客滿意度,而顧客滿意度又進而影響他們的忠誠。相反的,顧客情緒價值或他們的期望、均未能證實是認知價值的先決條件。
研究的局限/啟示
本研究所進行的消費者滿意度分析,與其它以傳統方法銷售的咖啡之相關研究有很大的分別,這是因為本研究除了考慮實用的因素外,還納入了社會因素和情感因素。
實務方面的啟示
從業人員、零售商和有關的機構應制訂適切的策略,以能有效地管理各個管道,來提升消費者的滿意度和忠誠。
研究的原創性
本研究的貢獻在於它幫助我們在公平貿易咖啡消費的課題上,對消費者滿意及其效果有更深入的認識。研究亦提供了一個探討顧客滿意度的嶄新、綜合的理論模型,而這個理論模型,除了涵蓋知覺認知 (質量和期望) 的因素外,還納入了社會的和情感的知覺因素。
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Salfarina Abdul Gapor, Chee Hua Chin, Ek Tee Ngian, Winnie Poh Ming Wong, Jiet Ping Kiew and Ting Ling Toh
The purpose of this paper is to examine the hard and soft measures of service quality and visitors' satisfaction, which ultimately contribute to visitor loyalty to the…
Abstract
Purpose
The purpose of this paper is to examine the hard and soft measures of service quality and visitors' satisfaction, which ultimately contribute to visitor loyalty to the destination, specifically in the context of the Borneo Cultural Festival (BCF) in Sibu, Sarawak (Malaysia).
Design/methodology/approach
The study uses a quantitative research approach with 427 valid responses from domestic and international tourists of BCF and employs the cognitive-affective-conative theory to examine how the festival impacts visitor loyalty.
Findings
The findings indicate that both hard and soft measures significantly contribute to the service quality and visitor satisfaction at the BCF. Additionally, service quality and visitor satisfaction were found to positively influence destination loyalty, while the relationship between legibility and visitor satisfaction was not significant.
Practical implications
The findings encourage the ministry and event organisers to adopt a destination event strategy that positions Sibu as an attractive event destination capable of attracting domestic and international tourists.
Originality/value
The findings of this study contribute to the existing body of knowledge on event tourism and destination loyalty by applying the cognitive-affective-conative theory. This study marks the first of its kind, analysing both the tangible (hard) and intangible (soft) measures of service quality and their impact on visitor satisfaction, ultimately influencing visitor loyalty to the destination, particularly in the context of the BCF in Sibu, Sarawak.
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Ferdaous Abdallah and Adel Boubaker
Although the phenomenon of the corporate social responsibility disclosure (CSRD) has derived the interest of several scholars, in recent years, the comparative studies between…
Abstract
Although the phenomenon of the corporate social responsibility disclosure (CSRD) has derived the interest of several scholars, in recent years, the comparative studies between Islamic banks (IBs) regarding CSRD quantity versus quality have not been the subject matter of studies till now. In this perspective, this chapter aims to investigate the importance given by IBs to the quality and quantity disclosure of CSR. Moreover, it seeks to explore the impact of CSRD quality and quantity on the IBs' financial performance (FP). To meet these objectives, we used a sample of 59 IBs from 2011 to 2016 in the Arab world and non-Arab world. Then, by adopting the content analysis approach, the authors constructed two CSRD indexes (quality and quantity). The empirical results indicated that IBs give more importance to the qualitative disclosure than the quantitative. Our findings will be very helpful for the policymakers and the managers of IBs because maintaining a good CSRD policy increases the capacity of IBs to deal with possible reputational events, thus protecting their profits and financial results. As far as the comparison between the Arabian and non-Arabian IBs, based on financial reports and Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) governance standard N°7 is concerned, our study is among the first studies that provides two new CSRD indexes (quantity and quality).
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This paper aims to promote the higher quality development of high-tech enterprises in China. While science and technology have greatly promoted human civilization, resources have…
Abstract
Purpose
This paper aims to promote the higher quality development of high-tech enterprises in China. While science and technology have greatly promoted human civilization, resources have been excessively consumed and the environment has been sharply polluted. Therefore, it is particularly important for current enterprises to make use of scientific and technological innovation to maximize the benefits of mankind, minimize the loss of nature, and promote the sustainable development of our country.
Design/methodology/approach
By using DEA-Banker-Charnes-Cooper (BCC) model and DEA-Malmquist model, this paper comprehensively examines the innovation efficiency of high-tech enterprises from both static and dynamic perspectives, and conducts a provincial comparative study with the panel data of ten representative provinces from 2011 to 2020.
Findings
The research findings are as follows: the rapid number increase of high-tech enterprises in most provinces (cities) is accompanied by an ineffective input–output efficiency; the quality of high-tech enterprises needs to comprehensively examine both input–output efficiency and total factor productivity; and there is not a positive correlation between element investment and innovation performance.
Research limitations/implications
Because the DEA model used in this paper assumes that the improvement direction of invalid units is to ensure that the input ratio of various production factors remains unchanged but sometimes the proportion of scientific and technological activities personnel and the total research and development investment is not constant. In the future, the nonradial DEA model can be considered for further research. Due to historical data statistics, more provinces, cities and longer panel data are difficult to obtain. The samples studied in this paper mainly refer to the provinces and cities that ranked first in the number of national high-tech enterprises in 2020. Limited by the number of samples, DEA analysis failed to select more input and output indicators. In the future, with the accumulation of statistical data, the existing efficiency analysis will be further optimized.
Originality/value
Aiming at the misunderstanding of emphasizing quantity and neglecting quality in the cultivation of high-tech enterprises, this paper comprehensively uses DEA-BCC model and DEA Malmquist index decomposition method to make a comprehensive comparative study on the development of high-tech enterprises in ten representative provinces (cities) from two aspects of static efficiency evaluation and dynamic efficiency evaluation.
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Kriengkrai Boonlert-u-thai, Pattanaporn Chatjuthamard, Suwongrat Papangkorn and Pornsit Jiraporn
Exploiting a unique measure of hostile takeover exposure principally based on the staggered adoption of state legislations, the authors investigate how external audit quality is…
Abstract
Purpose
Exploiting a unique measure of hostile takeover exposure principally based on the staggered adoption of state legislations, the authors investigate how external audit quality is influenced by the discipline of the takeover market. External auditors and the takeover market both function as important instruments of external corporate governance.
Design/methodology/approach
The authors execute a standard regression analysis and run a variety of robustness checks to minimize endogeneity, namely, propensity score matching (PSM), entropy balancing, an instrumental-variable analysis, Generalized method of moment (GMM) dynamic panel data analysis and Lewbel's (2012) heteroscedastic identification.
Findings
The authors’ immense sample spans half a century, encompassing nearly 180,000 observations and 17 takeover-related state legislations, one of the largest samples in the literature in this area. The authors’ results suggest that firms with more takeover exposure are significantly less likely to use Big N auditors. Therefore, a more active takeover market results in poorer external audit quality, corroborating the substitution hypothesis. The discipline of the takeover market substitutes for the necessity for a high-quality external auditor. Specifically, a rise in takeover susceptibility by one standard deviation lowers the probability of using a Big N auditor by 4.29%.
Originality/value
The authors’ study is the first to examine the effect of the takeover over market on audit quality using a novel measure of hostile takeover susceptibility mainly based on the staggered implementation of state legislation. Because the enactment of state legislation is beyond the control of any firm individually, it is plausibly exogenous. The authors’ results therefore probably reflect a causal influence rather than merely a correlation.
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While existing research explores the impact of audit market competition on audit fees and audit quality, there is limited investigation into how competition in the audit market…
Abstract
Purpose
While existing research explores the impact of audit market competition on audit fees and audit quality, there is limited investigation into how competition in the audit market influences auditors' writing style. This study examines the relationship between audit market competition and the readability of audit reports in Iran, where competition is particularly intense, especially among private audit firms.
Design/methodology/approach
The sample comprises 1,050 firm-year observations in Iran from 2012 to 2018. Readability measures, including the Fog index, Flesch-Reading-Ease (FRE) and Simple Measure of Gobbledygook (SMOG), are employed to assess the readability of auditors' reports. The Herfindahl–Hirschman Index (HHI) is utilized to measure audit market competition, with lower index values indicating higher auditor competition. The concentration measure is multiplied by −1 to obtain the competition measure (AudComp). Alternative readability measures, such as the Flesch–Kincaid (FK) and Automated Readability Index (ARI) are used in additional robustness tests. Data on textual features of audit reports, auditor characteristics and other control variables are manually collected from annual reports of firms listed on the Tehran Stock Exchange (TSE).
Findings
The regression analysis results indicate a significant and positive association between audit market competition and audit report readability. Furthermore, a stronger positive and significant association is observed among private audit firms, where competition is more intense compared to state audit firms. These findings remain robust when using alternative readability measures and other sensitivity checks. Additional analysis reveals that the positive effect of competition on audit report readability is more pronounced in situations where the auditor remains unchanged and the audit market size is small.
Originality/value
This paper expands the existing literature by examining the impact of audit market competition on audit report readability. It focuses on a unique audit market (Iran), where competition among audit firms is more intense than in developed countries due to the liberalization of the Iranian audit market in 2001 and the establishment of numerous private audit firms.
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Veysel Yilmaz and Yelda Sürmeli̇oğlu
In this study, the service quality of an automobile authorized service center was investigated based on the European Customer Satisfaction Index (ECSI) model. The ECSI model…
Abstract
Purpose
In this study, the service quality of an automobile authorized service center was investigated based on the European Customer Satisfaction Index (ECSI) model. The ECSI model includes image, customer expectations, perceived quality, perceived value, customer satisfaction, customer complaints and customer loyalty.
Design/methodology/approach
In the study, an attempt was made to improve the ESCI model by adding the trust factor as a moderating variable. After an extensive literature review, measurement questions were developed to best represent the factors in the research model. Partial least squares structural equation modeling (PLS-SEM) was used to test the fit of the research model and test the hypotheses.
Findings
As a result of the analysis, only one of the 13 hypotheses tested was not supported. According to the results of hypothesis testing, the highest effect was found in the relationship between customer satisfaction customer complaints, customer expectations and perceived quality. In addition, customer expectations affect customer satisfaction indirectly rather than directly. In this case, customer expectations, perceived value and perceived quality influence customer satisfaction.
Practical implications
The customer satisfaction quality index score of the authorized automobile service whose service quality was measured was calculated as 72.75. Although customers were generally satisfied with the authorized service, their expectations were not fully met.
Originality/value
In the study, an attempt was made to improve the ECSI model by adding a trust factor. Trust, which was added to the model as a moderator variable, fit the model. As a result, it was revealed that trust has an increasing regulatory effect on the relationship between perceived quality and customer satisfaction.
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Minyan Wei, Juntao Zheng, Shouzhen Zeng and Yun Jin
The main aim of this paper is to establish a reasonable and scientific evaluation index system to assess the high quality and full employment (HQaFE).
Abstract
Purpose
The main aim of this paper is to establish a reasonable and scientific evaluation index system to assess the high quality and full employment (HQaFE).
Design/methodology/approach
This paper uses a novel Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) multi-criteria framework to evaluate the quality and quantity of employment, wherein the integrated weights of attributes are determined by the combined the Criteria Importance Through Inter-criteria Correlation (CRITIC) and entropy approaches.
Findings
Firstly, the gap in the Yangtze River Delta in employment quality is narrowing year by year; secondly, employment skills as well as employment supply and demand are the primary indicators that determine the HQaFE; finally, the evaluation scores are clearly hierarchical, in the order of Shanghai, Jiangsu, Zhejiang and Anhui.
Originality/value
A scientific and reasonable evaluation index system is constructed. A novel CRITIC-entropy-TOPSIS evaluation is proposed to make the results more objective. Some policy recommendations that can promote the achievement of HQaFE are proposed.
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Increased emphasis on offering quality education underscores the need for developing a rigorous process for assessing academic programs in higher education. In this chapter, we…
Abstract
Increased emphasis on offering quality education underscores the need for developing a rigorous process for assessing academic programs in higher education. In this chapter, we develop a practical and rigorous framework for comprehensive assessment of academic programs. This framework generates in-depth communication between the academic departments and the university administration. It provides a useful tool for advancing the university mission, setting priorities, allocating resources, and identifying future areas of potential growth. This data-driven framework covers a wide range of qualitative and quantitative variables. To ensure a smooth and efficient implementation of the assessment process we present the critical stages in the development of a successful program assessment framework − from determining the assessment criteria, establishing the organizational climate, appointing the assessment committee, preparing program self-studies, to collecting and analyzing data. We present real examples from the author’s home institution to illustrate and support the reader’s understanding of the framework.
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