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1 – 10 of 15P. Nagesh, Sindu Bharath, T.S. Nanjundeswaraswamy and S. Tejus
The present study is intended to assess the risk factors associated with digital buying. Also aims to design and develop an instrument to assess the digital buyers risk factor…
Abstract
Purpose
The present study is intended to assess the risk factors associated with digital buying. Also aims to design and develop an instrument to assess the digital buyers risk factor score (DBRFS) in light of pandemic.
Design/methodology/approach
Present investigation uses a quantitative approach to achieve the stated objectives. The survey instrument for the purpose of assessing risk factors associated with digital buying was developed in two phases. The present study adopts theory of planned behaviour (TPB), built based on the theory of reasoned action (TRA). The data were collected and analysed considering 500 valid responses, sampling unit being digital buyers using social media platforms in tyre-II city of India. The data collection was undertaken between June 2021 and August 2021. The instrument is designed and validated using exploratory factor analysis (EFA) followed by confirmatory factor analysis (CFA).
Findings
The present research identified six perceived risk factors that are associated with digital buying; contractual risk, social risk, psychological risk, perceived quality risk, financial risk and time risk. The DBRFS of male is 3.7585, while female is 3.7137. Thus, risk taking by the male and female is at par. For the age group 15–30, DBRFS is 3.6761, while age group 31–45 noted as 3.7889 and for the 46–50 age groups it is measured as 3.9649.
Practical implications
The marketers are expected to have the knowledge about how people responds to the pandemic. The outcome of the research helps to understand consumer behaviour but disentangling consumer’s “black box” is challenging especially during global distress. The present study outcome helps the digital shopkeepers to respond positively to meet the needs of digital buying.
Originality/value
The scale development and to quantify the DBRFS. A deeper understanding of about digital consumers during pandemics will help digital shopkeepers to connect issues related digital buying.
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The paper aims to considering quality that comes from quality employees taking discretionary efforts, having right perception towards quality, getting satisfied from their…
Abstract
Purpose
The paper aims to considering quality that comes from quality employees taking discretionary efforts, having right perception towards quality, getting satisfied from their contribution. Exploring the relationship of engagement, perception and satisfaction, and mapping the levels and identifying managerial implications for improving the levels.
Design/methodology/approach
William Kahn’s employee engagement dimensions, Parasuraman and Zeithaml’s quality dimensions and Harter et al.’s satisfaction dimensions applied and variables framed in health-care context, tested and applied. Survey data collected from randomly selected medical and non-medical employees from south Indian state Tamil Nadu health-care organizations, using structured questionnaire.
Findings
Age, experience and roles of the respondents in work have a significant association with the levels. It explores a significant positive relationship of perception, engagement and satisfaction. The study explores an average 28% of employees have high level of engagement, perception (18%) and satisfaction (22%), and the rest fall under moderate and low levels. The roles of the respondents significantly predict the levels.
Originality/value
The study focuses on engagement, perception and satisfaction of employees, not of patients. It registered the responses of trained physicians, nurses and administrative staff. It illustrates human resource strategic importance to improve the levels concerning quality measures.
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This paper aims to emphasize the need for a strategic approach to employee retention beyond financial benefits. This is directly proportional to employee retention. Bringing out…
Abstract
Purpose
This paper aims to emphasize the need for a strategic approach to employee retention beyond financial benefits. This is directly proportional to employee retention. Bringing out the retention measures preferred by employees, depicting the relationship of demographic profile with employee retention tendency and exploring implications giving importance to beyond paycheque factors are the objectives of the study.
Design/methodology/approach
This study uses applied qualitative approach with a realistic view to collect the details of retention measures and practices from purposively selected 36 health-care experts by the conduct of interview using a one-to-one discussion with written notes. With quantitative approach, opinion survey was administered to receive the perceived opinion of randomly selected 350 health-care employees on paycheque and on beyond paycheque factors boosting their intention to stay. Bhattacharya and Ramachandran’s health-care study framework on retention was applied for the identification of the factors.
Findings
Both paycheque and beyond paycheque benefits are important for retention. Most respondents prefer beyond paycheque factors practiced at sampled hospital. Age, marital status and residence of employees are significantly associated with retention. The strategic initiatives of the sampled hospital to retention concerning motivational needs of employees in the workplace are thank you board, camp head, ad act camp, success corner and so forth.
Research limitations/implications
Addressing health-care work and relationship-related issues in terms of employee retention giving importance to beyond paycheque benefits – remedy for compassion fatigue health-care employees face in routine works, meeting promises made by management regarding paycheque or beyond paycheque benefits, employees participative in decisions in medical, clinical and in functional areas, reducing workload and role stress by the conduct of role analysis.
Originality/value
Many research studies are emphasizing the contribution of financial benefits to employee retention. Only a few studies have been carried out exploring and emphasizing the importance of beyond financial benefits motivating employee retention. This is the study of evidence from a hospital that gives strategic importance to beyond paycheque elements as well as paycheque elements.
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Nagaraj Samala, Bharath Shashanka Katkam, Raja Shekhar Bellamkonda and Raul Villamarin Rodriguez
The purpose of the present article is to highlight the role of Artificial Intelligence (AI) and Robotics in the tourism industry. The various technologies being integrated to…
Abstract
Purpose
The purpose of the present article is to highlight the role of Artificial Intelligence (AI) and Robotics in the tourism industry. The various technologies being integrated to improve the service and customer experience in tourism. The expected changes and challenges in tourism in the future are focused in this paper.
Design/methodology/approach
A systematic study on the emerging technologies of AI and Robotics applied in the tourism sector is presented in the form of a viewpoint.
Findings
AI certainly enhances tourism experiential services however cannot surpass the human touch which is an essential determinant of experiential tourism. AI acts as an effective complementary dimension to the future of tourism. With the emergence of artificial travel intelligence, it is simpler to make travel arrangements. AI offers travel services that are automated, customized and insightful. AI allows travelers to learn about their behaviors, interests to inclinations and provide a personalized experience. Gone are the days to consult a travel agent, meet him physically and indulge in an endless chain of troubling phone calls to inquire about travel arrangements.
Practical implications
Tourism marketing to see a positive and improved change that will enhance the tourists’ overall experience due to the application of AI and Robotics. New emerging technologies like chatbots, virtual reality, language translators, etc. can be effectively applied in Travel, Tourism & Hospitality industry.
Originality/value
The present viewpoint discusses the application and role of AI and Robotics with the help of relevant industry examples and theory. The present paper highlights the different technologies being used and will be used in the future.
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Wenzhou Qu, Udomsak Wongchoti, Fei Wu and Yanming Chen
The purpose of this paper is to test an implication of the pecking order theory to explain capital structure decisions among Chinese listed companies during the 2005-2007 NTS…
Abstract
Purpose
The purpose of this paper is to test an implication of the pecking order theory to explain capital structure decisions among Chinese listed companies during the 2005-2007 NTS Reform transition period.
Design/methodology/approach
The authors utilize direct proxies for information asymmetry based on microstructure models including Probability of the arrival of informed trades (PIN), Adverse selection component of the bid-ask spread (λ), Illiquidity ratio (ILLIQ) and liquidity ratio, and Information asymmetry index (InfoAsy) to examine their relation with firms’ debt financing.
Findings
Consistent with the prediction of Pecking Order Theory, the authors find that companies for which stock investors are challenged with more severe informational disadvantages are associated with higher degree of leverage use.
Originality/value
The study provides a more direct test on the positive relation between information asymmetry and financial leverage of Chinese firms. In contrast to previous findings by Chen (2004), the results suggest that capital structure choices among Chinese firms progressively conform to conventional finance theories (e.g. Pecking Order Theory) with the decline of non-tradable shares.
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Engaged employees assure organizational competitiveness and sustainability. The purpose of this study is to explore the relationship between job resources and employee turnover…
Abstract
Purpose
Engaged employees assure organizational competitiveness and sustainability. The purpose of this study is to explore the relationship between job resources and employee turnover intentions, with employee engagement as a mediating variable.
Design/methodology/approach
Data were collected from 934 employees of eight wholly-owned pharmaceutical industries. The proposed model and hypotheses were evaluated using structural equation modeling. Construct reliability and validity was established through confirmatory factor analysis.
Findings
Data supported the hypothesized relationship. The results show that job autonomy and employee engagement were significantly associated. Supervisory support and employee engagement were significantly associated. However, performance feedback and employee engagement were nonsignificantly associated. Employee engagement had a significant influence on employee turnover intentions. The results further show that employee engagement mediates the association between job resources and employee turnover intentions.
Research limitations/implications
The generalizability of the findings will be constrained due to the research’s pharmaceutical industry focus and cross-sectional data.
Practical implications
The study’s findings will serve as valuable pointers for stakeholders and decision-makers in the pharmacuetical industry to develop a proactive and well-articulated employee engagement intervention to ensure organizational effectiveness, innovativeness and competitiveness.
Originality/value
By empirically demonstrating that employee engagement mediates the nexus of job resources and employee turnover intentions, the study adds to the corpus of literature.
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Asad Mehmood and Francesco De Luca
This study aims to develop a model based on the financial variables for better accuracy of financial distress prediction on the sample of private French, Spanish and Italian…
Abstract
Purpose
This study aims to develop a model based on the financial variables for better accuracy of financial distress prediction on the sample of private French, Spanish and Italian firms. Thus, firms in financial difficulties could timely request for troubled debt restructuring (TDR) to continue business.
Design/methodology/approach
This study used a sample of 312 distressed and 312 non-distressed firms. It includes 60 French, 21 Spanish and 231 Italian firms in both distressed and non-distressed groups. The data are extracted from the ORBIS database. First, the authors develop a new model by replacing a ratio in the original Z”-Score model specifically for financial distress prediction and estimate its coefficients based on linear discriminant analysis (LDA). Second, using the modified Z”-Score model, the authors develop a firm TDR probability index for distressed and non-distressed firms based on the logistic regression model.
Findings
The new model (modified Z”-Score), specifically for financial distress prediction, represents higher prediction accuracy. Moreover, the firm TDR probability index accurately depicts the probabilities trend for both groups of distressed and non-distressed firms.
Research limitations/implications
The findings of this study are conclusive. However, the sample size is small. Therefore, further studies could extend the application of the prediction model developed in this study to all the EU countries.
Practical implications
This study has important practical implications. This study responds to the EU directive call by developing the financial distress prediction model to allow debtors to do timely debt restructuring and thus continue their businesses. Therefore, this study could be useful for practitioners and firm stakeholders, such as banks and other creditors, and investors.
Originality/value
This study significantly contributes to the literature in several ways. First, this study develops a model for predicting financial distress based on the argument that corporate bankruptcy and financial distress are distinct events. However, the original Z”-Score model is intended for failure prediction. Moreover, the recent literature suggests modifying and extending the prediction models. Second, the new model is tested using a sample of firms from three countries that share similarities in their TDR laws.
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Muhammad Riaz, Shu Jinghong and Muhammad Nadeem Akhtar
The main goal of this study is to analyze how monetary debt effects firm behavior of 167 registered manufacturing companies in G-7 countries.
Abstract
Purpose
The main goal of this study is to analyze how monetary debt effects firm behavior of 167 registered manufacturing companies in G-7 countries.
Design/methodology/approach
The sample of the present study is taken from the listed firms in G-7 countries. For the building companies, the yearly financial statements of 2007–2018 have been taken from world stock exchange and Thomson Reuters Data Stream. In this study, regression analysis are directed with panel data over the period of 2007–2018 using ordinary least square summary statistics, correlation matrix and generalized method moments. Data were analyzed by employing E Views and Stata 13 software.
Findings
The significant findings of the current study indicated that fixed assets, tangible assets, taxes, net cash and profitability have positive association with debt level.
Research limitations/implications
The current work include only registered manufacturing firms in G-7 countries. Moreover, ownership types are not accounted for in this study.
Practical implications
The current analysis is an empirical investigation of antecedents of debt regarding G-7 countries with up-to-date data. Various regression inquires have been made to design the models using different measures of debt and measure of firm performance indicators. These works will assist G-7 countries firms to know the effects of identified factors on time raising debt level.
Originality/value
The current work has been finalized using genuine data of yearly reports and database. This study incorporated antecedents of debt, which have limited discourse in prior literature. Furthermore, this study explores the connection between debt level and firm performance of G-7 countries.
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Leszek Czerwonka and Jacek Jaworski
The main aim of the paper is to examine the small and medium-sized enterprises’ (SMEs) capital structure determinants in Central and Eastern Europe (CEE) (Poland, Czechia…
Abstract
Purpose
The main aim of the paper is to examine the small and medium-sized enterprises’ (SMEs) capital structure determinants in Central and Eastern Europe (CEE) (Poland, Czechia, Slovakia, Hungary, Bulgaria and Romania).
Design/methodology/approach
The authors used panel models to analyze financial data of 15,253 companies operating in the years 2014–2017.
Findings
The authors confirmed the dominant role of firm-specific factors. Industry and country variables explain only 4% of debt variability of the surveyed companies. The direction of influence of the diagnosed firm-specific factors is consistent with the pecking order theory. About one-fourth of SMEs in CEE hold a stock of debt capacity. It negatively affects the share of debt in the capital. The authors did not confirm the influence of the systematic industry business risk.
Research limitations/implications
The limitations of the study are (1) the inclusion of only six CEE countries in the sample; (2) the exclusion of microenterprises from the sample; (3) the capital structure relationships are observed following the applications of static panel; (4) the endogeneity issue has not been addressed in the model.
Practical implications
This study shows that business-friendly institutional environment is an important factor influencing the indebtedness of companies. It increases the leverage and, consequently, the return on equity, especially in CEE countries.
Originality/value
SME analyses in CEE countries are not as frequent as for other regions. Despite the classical determinants of the SMEs' capital structure, the authors have included debt capacity and systematic industry business risk in this study.
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Songhee Kim, Jaeuk Khil and Yu Kyung Lee
This paper aims to investigate the impact of corporate dividend policy on the capital structure in the Korean stock market. To distinctly discern the voluntariness of changes in…
Abstract
This paper aims to investigate the impact of corporate dividend policy on the capital structure in the Korean stock market. To distinctly discern the voluntariness of changes in corporate dividend policy, we analyze companies that, following a substantial increase, do not reduce dividends for the subsequent two years or, after a significant decrease, do not raise dividends for the following two years. Our empirical findings indicate that companies that increase dividends experience a significant decrease in both book and market leverage, even after controlling for variables such as target leverage ratios. This result suggests that a large increase in dividends can effectively reduce information asymmetry, leading to a lower cost of equity. On the contrary, after a decrease in dividends, both book leverage and market leverage significantly increase, revealing a symmetric relationship between dividend policy and capital structure. In conclusion, large dividend increases in Korean companies not only reduce information asymmetry but also lower the cost of equity capital, resulting in observable changes in the leverage ratio.
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