Search results

1 – 10 of over 76000
Article
Publication date: 9 August 2022

Hongji Xie, Zhen Yang and Shulin Xu

Economic policy uncertainty (EPU) has huge impact and harm on real economy, so the economic logic and other economic effects behind this must be further studied. By…

Abstract

Purpose

Economic policy uncertainty (EPU) has huge impact and harm on real economy, so the economic logic and other economic effects behind this must be further studied. By constructing the “China Economic Policy Uncertainty Index” to capture the degree of EPU faced by Chinese companies, the authors empirically test whether and how EPU affects the level of executives' perquisite consumption.

Design/methodology/approach

This study investigates the relationship between EPU and executive perquisite consumption based on a sample of 3,185 publicly listed firms in China. To examine the relationship between EPU and executives' perquisite consumption, a mixed least squares method was used for regression. To alleviate the problem of missing variables that do not change over time and control the influence of unobservable individual heterogeneity at the firm level, the firm fixed effects model is used for regression.

Findings

The study finds that EPU is positively associated with executive perquisite consumption. This positive association is stronger for firms with smaller size, lower management shareholding and higher levels of separation of ownership and control. Effective external governance (i.e., analyst coverage, media coverage, auditor and market competition) can mitigate the relationship between EPU and executive perquisite consumption. Further analysis reveals that EPU increases executive perquisite consumption by holding more cash and decreasing firm risk taking. EPU hurts market value of firms by boosting executive perquisite consumption and tunneling.

Practical implications

In an environment with high EPU, the board of directors should reduce managers' compensation performance sensitivity to ease the agency conflict caused by uncertainty. Firms should improve their governance mechanisms and standard and pay attention to their environmental changes. Policymakers should pay attention to maintaining the continuity and predictability of policies, stabilizing the economic policy expectations of market entities and avoiding frequent changes in policies that can harm economic and firm value. The regulatory authorities should actively guide listed companies to increase active information disclosure during periods of high policy uncertainty.

Originality/value

This study contributes to the research on corporate governance by showing how EPU influences executives' behaviors. The authors advance relative studies by showing that this uncertainty embedded in a firm's external environments influences executive perquisite consumption. This study also contributes to the literature on how internal and external governances influence corporate behavior during uncertainty. These findings extend this line of research by suggesting that effective external governance is an attribute that can alleviate the effect of uncertainty on managers' opportunistic behaviors.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 18 August 2022

Bingna Lin, Saerom Wang, Xiaoxiao Fu and Xiaoli Yi

This paper aims to explore the relationships among local food consumption experience, cultural competence, eudaimonia, and behavioral intention. Building upon…

Abstract

Purpose

This paper aims to explore the relationships among local food consumption experience, cultural competence, eudaimonia, and behavioral intention. Building upon acculturation theory, need hierarchy theory and self-determination theory, the current study develops a conceptual model of local food consumption as international tourists’ acculturation process.

Design/methodology/approach

This study collects data from 305 Chinese outbound tourists and uses partial least squares-structural equation modeling to examine the developed model.

Findings

The findings reveal a significant effect of the local food consumption experience, consisting of novel, authentic, sensory and social dimensions, on cultural competence, which subsequently evokes eudaimonia and behavioral response toward local food. The mediating effect of cultural competence is also confirmed.

Practical implications

Destination marketers and restaurant managers should recognize local food consumption as a meaningful tool that contributes to tourists’ cultural competence and eudaimonic well-being during travel. They should strive to craft an indigenous consumption setting and provide employee training on the history and culture of local food, helping tourists understand local food customs and embrace different food cultures.

Originality/value

To the best of the authors’ knowledge, very few studies have attempted to examine the meaningful consequences of local food consumption through the theoretical lens of acculturation. This study dives into international tourists’ local food consumption and pioneers a conceptual model to capture how local food consumption experience provokes their eudaimonia and behavioral desires through the mechanism of cultural competence.

Details

International Journal of Contemporary Hospitality Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0959-6119

Keywords

Article
Publication date: 18 August 2022

Olufemi Gbenga Onatunji

The current wave of decreasing electricity supply to meet the immediate demand of the populace is influencing not only economic growth but also the industrial productivity…

Abstract

Purpose

The current wave of decreasing electricity supply to meet the immediate demand of the populace is influencing not only economic growth but also the industrial productivity of the ECOWAS sub-region. In this context, this paper investigates the long-run and causal relationships between electricity consumption and industrial output in selected ECOWAS countries over the period 1971–2017.

Design/methodology/approach

The Autoregressive Distributed Lag (ARDL) bound testing approach is employed to determine the existence of relationships among the variables. The causal nexus between electricity consumption and industrial output is examined using both the Toda-Yamamoto causality test and the bootstrap-corrected causality technique.

Findings

The long run results indicated that increasing electricity supply enhances industrial output only in Benin, Cote d'Ivoire, Gambia, Guinea, Liberia, Nigeria, Senegal, and Sierra Leone. Furthermore, the causality test results confirmed the presence of all four hypotheses in this study, but the two causality tests agree, particularly in the evidence of growth and neutrality hypotheses. In the cases of Benin, Burkina Faso, Gambia, Ghana, Nigeria, and Sierra Leone, a unilateral causality running from electricity consumption to industrial output is found. However, no evidence of causality between electricity consumption and industrial production has been confirmed in Cote d'Ivoire, Guinea Bissau, Liberia and Niger.

Practical implications

The relevant energy stakeholders in the subregion need to reprioritize their policy framework to focus more on the electricity sector of their economies since electricity consumption is identified as an important driver of industrial growth in the West African countries.

Originality/value

This is the first study to provide a comparative and country-specific investigation of the nexus between electricity consumption and industrial output in Africa, particularly in the West African region.

Details

Journal of Economic and Administrative Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1026-4116

Keywords

Article
Publication date: 11 August 2022

Emad Kazemzadeh, Mohammad Taher Ahmadi Shadmehri, Taghi Ebrahimi Salari, Narges Salehnia and Alireza Pooya

One of the most important ways to pay attention to sustainable economic development is to invest in green technology and alter the energy consumption structure (ECS) in…

Abstract

Purpose

One of the most important ways to pay attention to sustainable economic development is to invest in green technology and alter the energy consumption structure (ECS) in countries. Changing the ECS can be important in two ways: first, it increases the diversity of energy consumption and reduces energy dependence on other countries. Second, the use of highly polluted nonrenewable energy sources (such as oil and coal) is reduced, leading to the transfer of energy to natural gas with less carbon emissions or renewable energy. To this end, the authors examined the asymmetric effects of eco-innovation on the US ECS from 1980 to 2019. This paper aims to address this issue.

Design/methodology/approach

In this research, the nonlinear autoregressive distributed lag (ARDL) (NARDL) model is used and the results are compared with the linear ARDL model.

Findings

The ARDL results also confirm the positive effects of oil prices and GDP per capita in the long run. On the other hand, short-term and long-term Wald test results confirm the nonlinear effects of eco-innovation (LPATENT) on US ECS. These results indicate that 1% positive shock in LPATENTˆ+ increases the ECS by 0.179, while 1% negative fluctuations (LPATENTˆ-) leads to a decrease (−0.085) in the ECS. However, the ARDL results, in general, show the positive effects of LPATENT on the ECS in long run. Evidence suggests that ignoring nonlinear effects can lead to inaccurate results. Policy suggestions for environmental technology innovation are presented in the results.

Originality/value

This research has innovations in various aspects so that the previous studies in this field have examined the effects of environmental innovation on renewable or nonrenewable energy consumption, and so far no study has been done on the ECS. In this research, the Shannon–Wiener index has been used to calculate the ECS.

Details

Management of Environmental Quality: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1477-7835

Keywords

Article
Publication date: 4 August 2022

Jianjin Yue, Wenrui Li, Jian Cheng, Hongxing Xiong, Yu Xue, Xiang Deng and Tinghui Zheng

The calculation of buildings’ carbon footprint (CFP) is an important basis for formulating energy-saving and emission-reduction plans for building. As an important…

Abstract

Purpose

The calculation of buildings’ carbon footprint (CFP) is an important basis for formulating energy-saving and emission-reduction plans for building. As an important building type, there is currently no model that considers the time factor to accurately calculate the CFP of hospital building throughout their life cycle. This paper aims to establish a CFP calculation model that covers the life cycle of hospital building and considers time factor.

Design/methodology/approach

On the basis of field and literature research, the basic framework is built using dynamic life cycle assessment (DLCA), and the gray prediction model is used to predict the future value. Finally, a CFP model covering the whole life cycle has been constructed and applied to a hospital building in China.

Findings

The results applied to the case show that the CO2 emission in the operation stage of the hospital building is much higher than that in other stages, and the total CO2 emission in the dynamic and static analysis operation stage accounts for 83.66% and 79.03%, respectively; the difference of annual average emission of CO2 reached 28.33%. The research results show that DLCA is more accurate than traditional static life cycle assessment (LCA) when measuring long-term objects such as carbon emissions in the whole life cycle of hospital building.

Originality/value

This research established a carbon emission calculation model that covers the life cycle of hospital building and considered time factor, which enriches the research on carbon emission of hospital building, a special and extensive public building, and dynamically quantifies the resource consumption of hospital building in the life cycle. This paper provided a certain reference for the green design, energy saving, emission reduction and efficient use of hospital building, obviously, the limitation is that this model is only applicable to hospital building.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 9 August 2022

Jing Wang and Zunli Liu

Unprecedented environmental crises threaten the world, and most environmental problems are closely associated with human behaviour. At the same time, social exclusion and…

Abstract

Purpose

Unprecedented environmental crises threaten the world, and most environmental problems are closely associated with human behaviour. At the same time, social exclusion and loneliness occur widely, influencing consumers' product preferences and choices. Hence, this study aimed to explore the impact of social exclusion on green consumption and its underlying mechanisms.

Design/methodology/approach

The paper opted for an empirical study with different research designs and green consumption measures. This pilot study investigated the relationship between social exclusion and green consumption by examining the frequency of green consumption behaviours in the past. Study 1 established a causal link between these two variables by manipulating social exclusion in a controlled experiment and assessed green product preferences. Study 2 further generalised the results of the secondary data analysis from the World Values Survey (WVS).

Findings

Overall, the research study provides convergent evidence that chronically or transiently excluded consumers are less likely to implement green consumption than their counterparts who do not feel socially excluded; this effect is partially mediated by a reduced sense of control and willingness to sacrifice for society after social exclusion.

Originality/value

Based on social exclusion theory and considering the unique characteristics of green consumption, this study enriches research in the fields of social exclusion and green consumption, revealing the negative effect of social exclusion on green consumption and the dual mediators in this relationship.

Details

Asia Pacific Journal of Marketing and Logistics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-5855

Keywords

Article
Publication date: 26 July 2022

Lizardo Vargas-Bianchi

Much research has been conducted on how consumption is related to human relationships. Only a scarcity of studies has examined brand and product selection, as well as the…

Abstract

Purpose

Much research has been conducted on how consumption is related to human relationships. Only a scarcity of studies has examined brand and product selection, as well as the consumption activities that individuals follow when pursuing a sense of group belonging. The literature comprises a single theoretical framework describing this phenomenon, a nascent proposition on which further research remains undeveloped. This study aims to examine the transferability of that theoretical framework in a different context to that used for its elaboration and its descriptive scope on purchasing goods and engaging in consumption activities to leverage belonging.

Design/methodology/approach

A deductive qualitative case study and pattern matching analysis technique were used, followed by structural coding analysis of interview data.

Findings

Findings reveal that the model is transferable, although its conceptual scope faces limitations. Individuals follow paths that need little or no excessive calculation in identifying a group to which they desire to belong, or the conduits to do so, and in certain cases the sense of belonging mediated by consumption is independent of display and confirmation by others. A refinement of the studied theoretical framework was carried out based on the findings, proposing an alternative framework termed the belonging-oriented consumption model, which provides a basis for future research on consumption related to pursuing a sense of belonging.

Research limitations/implications

This study was limited to analysing those events in which consumption for the purpose of pursuing group belonging is intentional. However, much of our consumption happens in a nuanced and unreflective way, and the same must go for consumption related to belonging.

Practical implications

The symbolic meaning that consumers attach to products and brands can vary based on how they are used and how consumers pursue a sense of belonging. The personality and distinctiveness of a product is influenced by the relationship between individuals and its use. Managers can establish concepts and elements of brand identity that ease brand display as a sign of belonging. They can also promote brand salience when the brand is used as a belonging conduit.

Originality/value

This study is significant because there is limited development in the academic literature, nor agreement among the authors, of a model that describes the components of consumption oriented towards pursuing a sense of group belonging. The author proposes the belonging-oriented consumption model, which provides a theoretical basis for future research on this topic.

Details

Qualitative Market Research: An International Journal, vol. 25 no. 4
Type: Research Article
ISSN: 1352-2752

Keywords

Article
Publication date: 7 July 2022

Payam Akbar and Stefan Hoffmann

The purpose of this paper is to develop and introduce the new concept of the collaborative space.

Abstract

Purpose

The purpose of this paper is to develop and introduce the new concept of the collaborative space.

Design/methodology/approach

Building on an extensive overview of past research and footing on extant conceptual work, the paper chooses an explicating conceptualization approach.

Findings

The paper presents the collaborative space, which features the three bipolar dimensions, namely, the type of consumption (access vs reownership), source of resource (company-owned vs consumer-owned) and the type of compensation (with vs without monetary fee). These dimensions open up multiple areas of the collaborative space, including the pseudo sharing economy, sharing ecology, redistribution markets and redistribution communities.

Research limitations/implications

The paper shows blind spots in the literature as well as the need to consider the consumption context to outline directions for future research.

Practical implications

For managers, this paper develops a foundation for entering, exploring and exploiting the collaborative space along the stages acquisition, distribution, consumption and compensation.

Social implications

Collaborative consumption is associated with community-building, resource saving and sustainability. The conceptualization of the collaborative spaces provides different options to enable more sustainable consumption and raise social exchange between consumers.

Originality/value

So far, an overarching framework that reveals similarities and differences of business models that are associated with collaborative consumption and the sharing economy is missing. This paper develops this framework, which is labelled the collaborative space.

Details

Journal of Services Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0887-6045

Keywords

Article
Publication date: 21 July 2022

Muhammad Sholihin, Nurus Shalihin, Mega Ilhamiwati and Hendrianto Hendrianto

This study aims to gain new insight into how a set of maqasid-based consumption intelligence variables mediates exogenous variables (i.e. religiosity, Islamic university…

Abstract

Purpose

This study aims to gain new insight into how a set of maqasid-based consumption intelligence variables mediates exogenous variables (i.e. religiosity, Islamic university role and normative belief) and halal purchase intention as an endogenous variable.

Design/methodology/approach

The research model is empirically tested with a data set of 370 responses retrieved from the students of the millennial generation from the cross Islamic state university in Indonesia. Data were analysed with Partial Least Square Structural Equation Modelling (PLS-SEM). The sample size of this study is computed with preliminary power analysis.

Findings

The SEM finding revealed that two maqasid-based consumption intelligence variables had mediated the exogenous and endogenous variables, i.e. halal purchase intention. These variables mediating the exogenous and endogenous variables have explained 63.5 R2 variances in halal purchase intention. Concerning individual impact size of cognition and motivation as a component of maqasid-based consumption intelligence has shown medium-level effect size (f2) in mediating the halal purchase intention. Interestingly, the exogenous variable does not directly affect halal purchase intention but must be mediated with maqasid-based consumption intelligence variables. However, before including variables of maqasid-based consumption intelligence, the R2 was relatively small. It is just 30.4% in R2 that explains the variance of halal purchase intention.

Research limitations/implications

This study explores maqasid-based consumption intelligence as a relatively new model to explain the variable halal purchase intention. Therefore, it takes many types of exogenous variables to test how relevant maqasid-based consumption intelligence variables can define endogenous variables. Notwithstanding, this study does not do that because it only limits three exogenous variables (i.e. religiosity, Islamic university role and normative belief). Therefore, in further research, these limitations seem to be perfected by other scholars concerned about halal purchase intention.

Practical implications

The findings of this study allow Islamic universities to mainstream halal issues as a subject of learning, especially concerning consumption ethics. In addition, the empirical results of this study encourage the industry to pay attention to the essential components in determining the halal quality of the products offered because the millennial generation is now very aware of the importance of halal products.

Originality/value

This study contributes to the existing literature on halal purchase intention by testing maqasid-based consumption intelligence variables as mediators. Moreover, this is a pioneer study to consider and construct maqasid-based consumption intelligence as a model that explains halal purchase intention.

Details

International Journal of Ethics and Systems, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9369

Keywords

Article
Publication date: 8 July 2022

Sahil Singh Jasrotia, Pooja Darda and Shailesh Pandey

The individual’s set of values determines how they make decisions and navigate various personal and professional issues. This study aims to investigate the…

Abstract

Purpose

The individual’s set of values determines how they make decisions and navigate various personal and professional issues. This study aims to investigate the substitutability of self-improvement values for self-transcendence values in fostering responsible consumption behaviors in society, using Schwartz’s Basic Human Values as the theoretical foundation.

Design/methodology/approach

Focus group discussions are used to investigate the research problem. Representative samples of 100 centennials or Generation Z college students (50 undergraduate and 50 postgraduate students) and 45 millennials or Generation Y working employees were chosen for focus group talks to ensure the findings’ correctness. Using thematic analysis, the information gathered was coded and analyzed manually.

Findings

The paper looks into whether people’s self-transcendence values play a role in getting them to act responsibly when they buy things. This study gives us much new information about how people’s values change and how people buy things in today’s world.

Research limitations/implications

This study explains how changing values make people want to be more responsible with their money and adds to the literature on sustainable consumption and consumer behavior. Using the lens of Schwartz’s Basic Human Values, this study extends the theoretical domain of responsible consumption.

Originality/value

The concept of sustainable consumption is essential for the next generation’s well-being. The sustainable development goal (SDG) 12 of responsible consumption is the focus of this study. This is a novel study to examine and understand factors that can facilitate consumers to consume responsibly to attain the SDGs. This is also one of the first studies on responsible consumption, using focus group discussions as the research methodology.

Details

Society and Business Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-5680

Keywords

1 – 10 of over 76000