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Prior studies use two measures of firm-specific return variation (FSRV): idiosyncratic volatility in absolute and relative terms, the latter of which is also termed stock price nonsynchronicity. Whereas most research focuses on investigating the idiosyncratic volatility puzzle, the authors carry out comparison of these two measures and further investigate which of the two constituents of nonsynchronicity explain the association between FSRV and stock returns, emphasising the importance of assessing which component drives stock returns.

The authors use the US individual stock returns from 1925 to 2016 and define the two measures of FRSV based on the Fama and French (1993) model. Specifically, the authors decompose the relative measure into two components: (i) absolute idiosyncratic volatility and (ii) systematic volatility. The authors conduct various tests based on high-minus-low, zero-investment quintile portfolio sorts and perform the Fama–MacBeth analysis by singling out each component.

The authors find a positive return on the portfolio sorted on relative idiosyncratic volatility or on systematic volatility, but find a negative return sorted on absolute idiosyncratic volatility. The results are robust after controlling for size, BM and other risk characteristics using a double-sorting approach. The Fama–MacBeth regression results show that a positive association between the relative measure and stock returns is driven primarily by the low-systematic-volatility anomaly across firms. The findings are robust to controlling for return residual momentum, skewness, jumps and information discreteness.

Extant research posits the idiosyncratic volatility puzzle and the low-volatility anomaly. The authors emphasize the importance of integrating these two streams of research. This study enhances the understanding of the driving force underlying the relationship between FSRV and cross-sectional stock returns.

The study assess the selection ability and market timing skills of mutual fund and unit trust managers in Ghana.

The study uses an improved survivorship bias-free dataset of yearly after-fee returns of all mutual funds and unit trusts operating in Ghana from January 2011 to December 2019, cumulating in nine years of quantitative fund data. The authors assess Mutual funds and Unit trusts that ever existed, “alive” or “dead,” over the sample period in the study. The authors construct factor loadings to enable the application of multifactor models in the analysis. The authors apply the unconditional versions of the Jensen alpha, Fama-French three-factor, and Carhart four-factor models to determine the selection ability and market timing skills of 32 mutual funds and 17 unit trusts. The authors deploy HAC-consistent robust standard errors to the OLS estimations to subdue the effect of heterogeneity and autocorrelation.

The results indicate that, on average, mutual funds and unit trust managers possess market timing skills but no selection ability. When the results are decomposed into fund types, fixed-income and balanced mutual fund managers possess selection ability and market timing skills.

To the authors' best knowledge, this study is the earliest to examine the selection ability and market timing skills of both mutual fund and unit trust managers in Sub-Saharan Africa (SSA). It is also the earliest to construct factor loadings for the Ghana stock market.

The Indonesian government's Village-Owned Enterprises (BUMDes) initiative optimizes Village Resources (SDD)—human and natural—to improve rural communities' welfare. Villagers must participate in many ways. Due to its natural potential, industry, waste management and building management business units, BUMDes Waskito Wijaya in Waru village, Baki sub-district, Sukoharjo Regency, Central Java has the potential to grow. Strengthening social capital helps BUMDes management become sustainable.

The focus of this research is to find out what social capital characteristics that can improve the development of BUMDes Waskito Wijaya. Thus, this study uses a SWOT analysis to establish BUMDes by promoting village influencers, strong institutions, and internal and external social networks. Thus, strong bonding, linking and bridging will improve BUMDes' involvement in the village. This research describes the organization's internal and external situations and formulates the BUMDes development strategy empirically.

This study revealed that norms, trust, social networks and infrastructure positively impact BUMDes development. However, the social capital created is still in the bonding stage. While the linking and bridging stages are not yet sufficient to support a productive and prosperous BUMDes.

Thus, the developed strategy encourages the strong leadership spirit of the village influencers, creates aspirational and supportive institutions, and strengthens social networks both horizontally and vertically. Consequently, the linking and bridging that can actively engage in partnerships and build public trust will successfully be achieved. The condition will develop the capacity of BUMDes in providing facilities for the community.

The peer-review history for this article is available at: https://publons.com/publon/10.1108/IJSE-10-2022-0700

The purpose of this paper is to identify the practices that owners of public profiles in social networking sites can leverage to actively build online reputation and to evaluate the impact of the adoption of such practices on the initial formation of trust toward these individuals when they are presented as new virtual work partners.

A theoretical model was developed and an experiment with 233 participants was utilized to assess the model using partial least squares structural equation modeling.

The results suggest that individuals can build their online reputations in public profiles of social networking sites via a series of practices of self-disclosure of information and that the adoption of these practices has significant effects on the initial formation of trust toward the profile owner in virtual work contexts. Categorization mechanisms such as stereotyping, unit grouping and reputation categorization have been found to contribute to the initial formation of trust, both from an affect and cognition-based perspectives.

Little is known about the information disclosure practices in public profiles of social networking sites that new work partners can adopt to facilitate the formation of trust between them before they start working together. This study has contributed to the existing body of literature by clarifying these practices and the relative importance of online reputation to the initial formation of trust during the outset of a new virtual work relationship.

There are no existing tools to capture resources needed to support people with intellectual disability in an inpatient setting on an individual patient basis. The purpose of this paper is to describe the development of a new tool called Universal Needs Based Resource Assessment (UNBRA).

Using the Delphi method, focus groups were used to generate factors determining resource use. From these, themes were identified, a scoring system was created and the UNBRA tool was developed. This was piloted in two NHS inpatient units and modified following feedback.

The UNBRA tool holistically assesses resource requirements of an individual with intellectual disability supported in an inpatient setting. It considers ten factors grouped into the six themes of staffing, indirect work, clinical/ multi-disciplinary work, incidents, carer link activity and discharge process. UNBRA scores allow intra- and interpersonal comparison as well as comparison between units and can support resource allocation and operational decision-making.

To the best of the authors’ knowledge, there is no suitable existing tool to capture individual resource requirements of patients in intellectual inpatient settings. The development of the UNBRA tool fills this gap.

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.

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.

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.

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.

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.

In pursuit of affordable housing, the Sustainable Urban Development Act of 2021 contains regulations for community land trusts (CLTs) in Peru. This study aims to assess whether the CLT model can be an effective tool for low-income housing generation in the Peruvian context.

This study draws upon information collected from qualitative research and official statistical data to identify the main problems in the Peruvian housing sector. The authors gathered evidence from specialised literature to examine the benefits and drawbacks of CLT implementation and functionality as experienced in the USA, England and Canada in contrast to Puerto Rico and Brazil. To assess the potential effectiveness of the CLT model in Peru, the results from the examination of both groups of countries are analysed and contrasted with the evidence from the Peruvian experience.

Through micro-scale interventions in places with a consolidated sense of community, the CLT model can be an effective tool for affordable housing generation. However, no robust evidence suggests that the CLT model could be an effective tool for large-scale intervention in cities with disorganised and accelerated growth. Moreover, the level of housing affordability defined by the CLT model may be insufficient for people from the lowest-income percentiles.

Peruvian CLT adaptation will require a shift in individual property mind-sets. Furthermore, the model should be enhanced by governmental support through public subsidies and backed by mortgage loans and land grant programmes.

This study aims to identify the impact of drivers of citizens’ e-loyalty on e-government services. This study focused on the impact of e-service quality (e-SQ) on e-loyalty, mediated by e-trust. In addition, the study examined the moderating role of system anxiety.

To accomplish the study’s objectives, a self-administered questionnaire was created to collect data, and the sample size was chosen to align with the requirements of the structural equation modeling (SEM) approach. Out of the distributed questionnaires, 532 were deemed valid and suitable for analysis in this research. Data screening was performed, and no questionnaires were excluded from the analysis.

The study findings underscore the significance of enhancing e-SQ for improved trust, satisfaction and engagement in e-government initiatives. Decision-makers should prioritize streamlined processes, user-friendly interfaces and responsive support. Crucial elements for fostering trust include transparency, accountability and data security. Personalized services, citizen engagement and continuous feedback evaluation contribute to citizen satisfaction and loyalty. Addressing system anxiety is vital through clear instructions and accessible support. Implementation of these recommendations is expected to lead to successful e-government initiatives and increased e-service adoption. The study highlights the importance of maintaining high e-SQ standards, trust-building measures and adopting a holistic approach for sustained positive user experiences in government e-services.

This study found a significant positive influence of e-SQ on e-loyalty showing a strong positive correlation between e-SQ, e-loyalty and e-service. Statistical analysis reported a significant positive mediating role of e-trust in the relationship between e-SQ and e-loyalty. Moreover, system anxiety exhibited a strong significant negative moderating role on the relationship between e-SQ and e-trust.

Practical implications of the study emphasize the importance of improving e-SQ, enhancing transparency, strengthening security measures, adopting user-centric design principles and continuously evaluating and improving e-services. By implementing these recommendations, decision-makers can foster trust, satisfaction and improve engagement and adoption of e-government initiatives in the Jordanian context as a developing country.

The study explores the factors influencing citizens’ loyalty to e-government services in Jordan, acknowledging the unique challenges faced by the country as a developing nation. It focuses on understanding these factors within the Jordanian context, where e-government initiatives are increasingly implemented to enhance public services and governance. The research investigates the mediating role of e-trust and the moderating effect of system anxiety, providing valuable insights into the drivers of citizens’ loyalty.

The research explores indecision of strategic leaders in a complex case organization. This research offers new insights into the drivers of indecision of upper echelons decision-makers and explores the perceived consequences of the decision-makers' indecision.

Following a review of literature on upper echelons theory and strategic decision-making, indecision and the antecedents and consequences of indecision, the research follows a qualitative exploratory design. Semi-structured interviews were conducted among 20 upper echelons decision-makers with responsibility across 19 Sub-Saharan African countries in a case company. Thematic analysis was used to analyze the data.

The findings reveal that specific organizational, interpersonal and personal factors work together to drive strategic leader indecision in a complex organization. Strategic leader indecision brings about several negative organizational consequences and demotivates team members.

The findings are based on a single-case exploratory design but represent geographical diversity.

The research cautions organizations to deal with the drivers of strategic leader indecision to help avoid potential negative consequences of stifled organizational performance and team demotivation.

The study offers previously unknown insights into strategic leader indecision. This study builds on current literature on the antecedents and consequences of indecision and has a new research setting of strategic leader indecision in a complex organization.

This case is a sequel to the “IndiGrid: Creating India's First Power Transmission InvIT (A)” case. It describes the deal that would replace the trust's original sponsor, Sterlite Power, with a new set of KKR-led financial investors. It provides an opportunity to discuss the consequences of this change on the new investment manager's outlook for management and future acquisitions. The new investment manager, freed from the limiting interest of the original sponsor, had to search for investment opportunities from the perspective of incoming financial investors, which included the new sponsor. It also provides an opportunity to evaluate the trade-offs in investing in operational utility-scale renewable energy assets by the IndiGrid, which had so far only acquired operational transmission assets in its portfolio.