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1 – 8 of 8Daehwan Kim, Yongjae Ko, J. Lucy Lee and Yong Cheol Kim
Drawing on the corporate association framework and attribution theory, the purpose of this paper is twofold: first, to examine the shield effects of CSR-linked sport sponsorship…
Abstract
Purpose
Drawing on the corporate association framework and attribution theory, the purpose of this paper is twofold: first, to examine the shield effects of CSR-linked sport sponsorship on consumer attitudes toward a sponsor, attribution patterns in a sponsor’s service failure and repurchase intentions and second, to investigate the halo effect of CSR-linked sport sponsorship on corporate ability (CA) associations and the relationship between CA associations and consequential variables in the context of service failure.
Design/methodology/approach
A scenario-based two-factor (sponsorship types: baseline vs sport sponsorship vs CSR-linked sport sponsorship × service failure types: flight delay vs cancellation) experimental design was employed.
Findings
The results indicate that CSR-linked sport sponsorship outperforms non-CSR sport sponsorship in forming CSR association and developing CA association. Both CSR and CA associations are found to positively influence the consumer’s attitude toward a service provider. Consumers with positive attitudes attribute the sponsor’s service failure to external factors, leading to repurchase intention after a service failure.
Originality/value
This study connects two fields of research, service failure and sport sponsorship, thereby providing evidence on how CSR-linked sport sponsorship can play a shield role in the context of service failure and whether CSR-linked sport sponsorship can be a proactive strategy for service providers in industries where service failures are inevitable. Additionally, this study provides empirical evidence on whether CSR-linked sponsorship can lead consumers to perceive service quality as “doing right leads to doing well” by creating a halo effect.
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Jinyong Kim and Yong-Cheol Kim
U.S. bank holding companies (BHCs) have experienced dynamic changes over a period of 2000–2010. We find that the size distribution of sample banks becomes highly positively skewed…
Abstract
U.S. bank holding companies (BHCs) have experienced dynamic changes over a period of 2000–2010. We find that the size distribution of sample banks becomes highly positively skewed with a small number of big banks becoming super-sized, and these big banks tend to take extra risk by holding derivative positions for trading purposes. The ten largest risk-taking banks hold about 70% of total assets of all the sample banks in 2010. We investigate whether the risk-taking activities of the BHCs translate into higher risk-adjusted return performance. In extensive panel regression analyses, we find that the risk-taking strategies of large banks by holding derivative positions for trading purpose do not show the clear evidence of enhancing risk-adjusted performance. We find that negative impacts of extra risk-taking on the risk-adjusted performance become bigger with the size of banks.
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Yong-Cheol Kim and Kooyul Jung
This chapter contrasts the effects of main bank–firm ties on the performance of firms in the changing economic environment of the Japanese financial system. The dual stake of the…
Abstract
This chapter contrasts the effects of main bank–firm ties on the performance of firms in the changing economic environment of the Japanese financial system. The dual stake of the main bank as stockholder and creditor has a positive effect on stock returns in the growth period, but a negative effect in the contraction period. The empirical results suggest that the current problems in the Japanese economy can be traced back to the failure of corporate governance that cast dark clouds on the Japanese economy after the bursting of the economy in 1990.
Abdullahi Babatunde Saka and Daniel W.M. Chan
This paper aims to review the status of development of building information modelling (BIM), its trends and themes across the six continents of the world.
Abstract
Purpose
This paper aims to review the status of development of building information modelling (BIM), its trends and themes across the six continents of the world.
Design/methodology/approach
A total of 914 journal articles sought from the search engine of Web of Science (WOS) based on the country/region option of the WOS to group them into continents. A best-fit approach was then applied in selecting the suitable software programmes for the scientometric analysis and comparisons and deductions were made.
Findings
The findings revealed that there are differences in the development of BIM across the six continents of the world. South America and Africa are lagging in the BIM research and Australia and Asia are growing, whilst Europe and North America are ahead. In addition, there exist differences in the research themes and trends in these continents as against the single view presented in extant studies.
Originality/value
This study introduced a new approach to carry out a comparative and taxonomic review and has provided both academic researchers and industrial practitioners with a clear status of development of BIM research and the trend across the six continents of the world.
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Hussein Abedi Shamsabadi, Byung-Seong Min and Richard Chung
The purpose of this paper is to empirically investigate the effects of corporate governance on the dividend payout (DP) in Australia where DP remains high and corporate governance…
Abstract
Purpose
The purpose of this paper is to empirically investigate the effects of corporate governance on the dividend payout (DP) in Australia where DP remains high and corporate governance system has recently been strengthened.
Design/methodology/approach
A self-constructed governance indexes over 2001-2013 is used for the random effect panel Tobit model to investigate the effect of corporate governance on cash dividend. Two different versions of the indexes and the traditionally emphasized governance elements such as board structure are also used for the robustness checks.
Findings
Estimation results report that a positive effect of governance, combined with size of firm and profitability, on DPs. In contrast, financial distress and the global financial crisis, respectively, have negative effect on dividend policy. Further examinations imply that the positive effect of governance is attenuated by growth opportunities while intensified by firm free cash flow and the franked dividend policy.
Originality/value
The sample period and the governance indexes in this paper, respectively, are the longest and the most comprehensive among existing studies on Australian case. This paper also combined the traditional governance-dividend theme with corporate tax, particularly the unique franked dividend tax system.
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Giacomo Morri and Fabio Cristanziani
This paper aims to investigate the determinants affecting the choice of the capital structure of European property companies.
Abstract
Purpose
This paper aims to investigate the determinants affecting the choice of the capital structure of European property companies.
Design/methodology/approach
The analysis considers the set of companies belonging to the EPRA/NAREIT Europe Index (both REITs and non‐REITs) and is based on panel data to get greater reliability and to check the cross‐time path of explanatory variables. Seven independent variables (size, profitability, growth opportunities, cost of debt, ownership structure, risk, and category) are studied over a five‐year period.
Findings
Results clearly show that non‐REIT companies are significantly more leveraged than REITs, confirming the importance of the tax‐exempt status in affecting capital structure choices. The negative relationship between operating risk and leverage demonstrates that the managers of riskier firms tend to reduce the overall company's uncertainty by adopting a more careful capital structure. Moreover, more profitable firms have less recourse to leverage. Evidence also suggests that the company's asset size is able to directly influence the amount of debt issued, confirming the hypothesis that debt is cheaper for bigger firms and its issue is affected by economies of scale.
Originality/value
The paper represents a break point with past literature for the sample, based on European companies, and the methodology, that relies more on market rather than on balance‐sheet or income statement items (obtaining higher comparability and avoiding country‐specific bias mainly concerning law, fiscal and earning management issues).
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