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1 – 5 of 5Wajid Shakeel Ahmed, Muhammad Sohaib, Jamal Maqsood and Ateeb Siddiqui
The purpose of this study is to determine if intraday week (IDW) effect of the currencies reflect leverage and asymmetric impact in currencies market. The study data set comprises…
Abstract
Purpose
The purpose of this study is to determine if intraday week (IDW) effect of the currencies reflect leverage and asymmetric impact in currencies market. The study data set comprises of intraday patterns of 15 currencies from developed and emerging economies.
Design methodology approach
The study applies the exponential generalized autoregressive conditional heteroscedasticity (E-GARCH) model technique to observe the IDW leverage and asymmetric effect after introducing hourly dummies variables, namely, IDWmon, IDWwed, IDWfrid and IDWfrid-mon.
Findings
The study results favor the propositions and confirm that IDW effect do exist in the international forex markets in relation to hourly trading pattern for respective currencies. Mostly, currencies do depreciate on Monday and Wednesday compared to the rest of the days. However, on the last trading day, i.e. Friday currencies observe an appreciation pattern which is for both economies. The results have an evidence of leverage and asymmetric effect confirmed by the E-GARCH model as a result of press releases and influence by micro-factors in the currency markets.
Practical implications
The study believes to have theoretical connection related to the better understanding of currencies trend for developed and emerging economies, as the IDW effect exists. Moreover, confirmation of both the leverage and asymmetric effect in observed currencies would be able to assist the investors in making rational choices during the trading hours and would confirm considerable profits through profit incentivized strategies.
Originality value
The study not only add knowledge to the previous study work in relation to the hourly trading pattern of currencies with reference to the IDW effects but also highlights the leverage and asymmetric effect in currencies that will help in formulating future trading strategies particular to emerging economies.
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Wajid Shakeel Ahmed, Muhammad Shoaib Khan, Muhammad Jibran Sheikh and Inzamam Khan
This particular study examined the government bond price variations in order to determine the presence of excess volatility both at country and panel group level of BRICS…
Abstract
Purpose
This particular study examined the government bond price variations in order to determine the presence of excess volatility both at country and panel group level of BRICS countries context.
Design/methodology/approach
The study applied the autoregressive GARCH panel model approach proposed by Fakhry and Richter (2015) to evaluate the presence of excess volatility and then examined the diversification benefits. Further, the use of discrete wavelet transformation (DWT) has added the advantage to observe volatility across bonds along with potential diversification benefits by retaining information from the time and frequency domain perspective for both the maturities.
Findings
The main finding indicates that the excess volatility is present in BRICS countries at individual level i.e. in the case of Russia, India and China. However, the 10-year bond showing a less volatility compared to 5-year bond with the possibility of reaping out the benefits of diversification with international portfolio of sovereign bonds.
Practical implications
The main implication of the research is related to the non-perseverance of EMH as far sovereign bonds of BRICS countries are concerned as the results indicate presence of excess volatility in the 5-year and 10-year bond markets. However, the implicit behavior of 5-year bond could benefit the active fund managers and investors by taking an advantage of a reducing systemic risk through short-medium term investments.
Originality/value
This study contributes not only to the existing studies of similar nature by examining the excess volatility in bond markets but also taking account of co-moment of distinct maturities to confirm possible international diversification benefits for BRICS countries context.
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Riffat Blouch, Khuda Bakhsh, Wajid Shakeel, Muhammad Majid Khan and Aiza Yasmeen
The purpose of the current study is to investigate the role network value of firm on the relationship between firm strategic initiatives on firm performance by managing the market…
Abstract
Purpose
The purpose of the current study is to investigate the role network value of firm on the relationship between firm strategic initiatives on firm performance by managing the market antecedents including user's expectations, user's coordination and user's compatibility.
Design/methodology/approach
The current study uses secondary date of telecom industry of Pakistan, India and China. The data obtained were later subjected to the analysis using CASUALMED procedures of statistical analysis software (SAS).
Findings
The findings from the study projected that strategic drivers played an important role in leveraging the firms' performance. The results also confirm that in order to increase the firm performance, the network value of firms' plays a very crucial role.
Research limitations/implications
Despite making novel contribution, the present study has few limitations, need researchers' attention to be explained in the future, which includes narrow population size, not being able to work on indirect network effects and the theoretical explanation of behavioral antecedents of network value.
Practical implications
The present research have potential applications for managers of telecom industry, which in turn would help them to develop the strategies that they could build to leverage their network value and firms' performance.
Originality/value
The current study has made a considerable contribution in the literature by proposing a model that adds to the theoretical foundation of strategic management of the firm. So, closely considering these insights would be helping for the firms to leverage its network value in mobile telecommunication industry.
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Riffat Blouch, Muhammad Majid Khan and Wajid Shakeel
Drawing on the concept of resource-based theory of the firm; the purpose of this study is to analyze the influence of firms’ strategic approaches on the firm performance via…
Abstract
Purpose
Drawing on the concept of resource-based theory of the firm; the purpose of this study is to analyze the influence of firms’ strategic approaches on the firm performance via indirect effect using a multilevel, bottom-up approach.
Design/methodology/approach
Using the survey method, the present study obtains data from 104 diversified manufacturing firms and analyzes the bottom-up effect of firms’ strategic approach on efficient resource allocation using Mplus.
Findings
Given the prevailing conditions, the study found that the motive of most firms is growth rather than risk mitigation or collaboration in the manufacturing sector of Pakistan. Furthermore, the study found that the bottom-level employees’ information asymmetry has a significant impact on the strategic resource allocation decision, which can lead to resource allocation inefficiency.
Research limitations/implications
Despite making a unique contribution, the present study has few limitations requiring researchers’ attention to in the forthcoming. These include a low amount of data, self-reporting technique and failure to include all the possible reason that could cause resource allocation inefficiency.
Practical implications
The present research has potential applications for managers of the manufacturing industry. First, the study alerts managers about the challenges of resource allocation. At the same time, this study provides critical implication for managing bottom-level employees.
Originality/value
The current study has made a sizable impression in the literature of resource-based theory of the firm by recommending a model that augments the theoretical foundation of strategic management of the firm. So, closely considering these insights would be helping for the firms for allocating resources efficiently in the manufacturing industry.
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Riffat Blouch, Aiza Yasmeen, Muhammad Majid Khan and Wajid Shakeel
The purpose of the study is to examine the role of the types of psychological contract (PC) to enhance knowledge sharing (KS) behavior of employees through the intervention of…
Abstract
Purpose
The purpose of the study is to examine the role of the types of psychological contract (PC) to enhance knowledge sharing (KS) behavior of employees through the intervention of perceived organizational support (POS).
Design/methodology/approach
The current study uses primary sources to get data from the participants of both private and public hospitals. Overall, 210 respondents participated in the study, which later subjected to the analysis using CAUSALMED procedures using statistical analysis software.
Findings
The findings from the study projected that all types of psychological have a considerable effect on KS behavior of employees, either directly or through the intervening mechanism. Furthermore, the study also indicates that if employees’ POS, they will share a stronger bond with the organization, which will be beneficial for the organizations’ health.
Research limitations/implications
Firstly, despite the fact that this study proposes valuable insights into KS behavior; it allows some impediments of a primary study. Secondly, the research is constrained to the hospital industry. Finally, this exploration can likewise be reinforced by incorporating other intervening mechanisms, to give an extensive understanding of the connection between employees’ perception regarding PC and KS behavior.
Practical implications
The findings of the present research have potential applications for human resource managers of the healthcare industry to place more emphasis on the types of PC, organizational support and KS among the employees to achieve a competitive advantage in this dynamic environment through knowledge management, which is considered a strategic asset nowadays.
Originality/value
This study provides an original contribution by identifying the diverse paths, indicating how the types of PC can impact KS with employees’ perceptions toward organizational support. It also highlights that how the heaths care industries, as compare to the old practices can encourage a culture of KS in this highly competitive and dynamic environment to remain at the top on the market.
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