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  • Does capital market drive corporate investment efficiency? Evidence from equity lending supply

    Tsai, H.-J.; Wu, Yuliang; Xu, B. (2021)
    The increased equity lending supply (ELS) in the equity loan market, available for short sellers to borrow, exposes a firm to greater short selling threats. Considering short sellers’ strong incentives to uncover firm-specific information and monitor managers, we hypothesize that short selling threats, proxied by ELS, enhance corporate investment efficiency. We find that ELS significantly reduces managerial tendencies to underinvest (overinvest) especially for firms prone to underinvest (overinvest). The effect of ELS on investment efficiency is stronger for firms with higher information asymmetry and weaker corporate governance, confirming short sellers’ role in mitigating information and agency costs. However, short selling risk weakens the effect of ELS. Our evidence is robust to endogeneity checks and suggests that corporate investment can be driven by a particular capital market condition: the amount of lendable shares in the equity loan market.
  • Influence of Consumer Cosmopolitanism on Purchase Intention of Foreign vs. Local Brands: A Developing Country Perspective

    Srivastava, A.; Gupta, N.; Rana, Nripendra P. (2021-06)
    Purpose: This study investigates the role of consumer cosmopolitanism on consumer attitudes and purchase intentions towards foreign and local brands. Design/Methodology/Approach: The responses were collected on a structured questionnaire through a consumer survey. The data was then analysed through PLS-SEM. Findings: The results depict the positive influence of consumer cosmopolitanism on consumer attitudes towards foreign brands, which positively influences purchase intentions towards foreign brands and negatively influences the purchase intentions of local brands. Further, the mediating role of perceived quality was observed in explaining the consumer preference towards foreign and domestic brands. Practical Implications: Finally, the study concludes by providing implications for marketing scholars and managers of global and local brands. Originality Value: The paper examines the underlying mechanisms related to consumer cosmopolitanism and its role in influencing the foreign and local brand purchase.
  • Imagining the impossible? Fears of deportation and the barriers in obtaining EU Settled Status in the UK

    Elfving, Sanna; Marcinkowska, Aleksandra (2021)
    In early 2021, over 5 million European Union (EU) citizens had applied for settled status to secure their right to continue to live, work and study in the United Kingdom (UK) after the country’s withdrawal from the EU (Brexit). In 2018, the Home Office launched a Statement of Intent to implement an application process for EU citizens through its EU Settlement Scheme. In the period leading to Brexit, the UK government assured EU migrants that their existing rights under EU law will remain essentially unchanged, and that applying for the settled status will be smooth, transparent and simple. However, the application process has resulted in some long-term residents failing to obtain settled status, despite providing the required information. Based on qualitative in-depth interviews with 20 EU migrants living in 2 major metropolitan areas in North East England, this article discusses the significant barriers which EU citizens face with the application process. This situation affects especially the most vulnerable EU migrants with limited English language skills and/or low literacy levels as well as those who are digitally excluded. This study contributes to the growing body of research on the consequences of Brexit to vulnerable EU migrants in the UK, focusing specifically on Central and Eastern European migrants.
  • Retail atmospherics effect on store performance and personalised shopper behaviour: A cognitive computing approach

    Behera, R.K.; Bala, P.K.; Tata, S.V.; Rana, Nripendra P. (2021-06)
    Abstract Purpose: The best possible way for brick-and-mortar retailers to maximise engagement with personalised shoppers is capitalising on intelligent insights. The retailer operates differently with diversified items and services, but influencing retail atmospheric on personalised shoppers, the perception remains the same across industries. Retail atmospherics stimuli such as design, smell and others create behavioural modifications. The purpose of this study is to explore the atmospheric effects on brick-and- mortar store performance and personalised shopper’s behaviour using cognitive computing based in-store analytics in the context of emerging market. Design/methodology/approach: The data are collected from 35 shoppers of a brick-and-mortar retailer through questionnaire survey and analysed using quantitative method. Findings: The result of the analysis reveals month-on-month growth in footfall count (46%), conversation rate (21%), units per transaction (27%), average order value (23%), dwell time (11%), purchase intention (29%), emotional experience (40%) and a month-on-month decline in remorse (20%). The retailers need to focus on three control gates of shopper behaviour: entry, browsing and exit. Attention should be paid to the cognitive computing solution to judge the influence of retail atmospherics on store performance and behaviour of personalised shoppers. Retail atmospherics create the right experience for individual shoppers and forceful use of it has an adverse impact. Originality/value: The paper focuses on strategic decisions of retailers, the tactical value of personalised shoppers and empirically identifies the retail atmospherics effect on brick-and-mortar store performance and personalised shopper behaviour.
  • Legislative budgetary power and fiscal discipline in the Euro Area

    Catania, M.; Litsios, I.; Baimbridge, Mark J. (2021)
    Purpose – The objective of this study is to understand the budgetary role of national legislatures in Euro Area (EA) countries and to analyse implications for fiscal discipline. Design/methodology/approach – Building on the budget institutions literature, a legislative budgetary power index for all the 19 EA countries is constructed using OECD and European Commission data as well as data generated from questionnaires to national authorities. A two-way fixed effects panel data model is then used to assess the effect of legislative budgetary power on the budget balance in the EA during 2006-15. Findings - Overall, in the EA, formal legislative powers vis-à-vis the national budgetary process are weak but there is more legislative involvement in SGP procedures and legislative budgetary organisational capacity is generally quite good. In contrast to the traditional view in the budget institutions literature, our empirical findings show that strong legislative budgetary power does not necessarily result in larger budget deficits. Research limitations/implications – Data on legislative budgeting was available from different sources and timeseries data was very limited. Practical implications – There is scope to improve democratic legitimacy of the national budgetary process in the EA, without necessarily jeopardising fiscal discipline. Originality/value – The constructed legislative budgetary power index covers all the 19 EA countries and has a broad scope covering various novel institutional characteristics. The empirical analysis contributes to the scarce literature on the impact of legislative budgeting on fiscal discipline.
  • The nature of the self, self‑regulation and moral action: implications from the Confucian relational self and Buddhist non‑self

    Chu, Irene; Vu, M.C. (Springer, 2021-05)
    The concept of the self and its relation to moral action is complex and subject to varying interpretations, not only between different academic disciplines but also across time and space. This paper presents empirical evidence from a cross-cultural study on the Buddhist and Confucian notions of self in SMEs in Vietnam and Taiwan. The study employs Hwang’s Mandala Model of the Self, and its extension into Shiah’s non-self-model, to interpret how these two Eastern philosophical representations of the self, the Confucian relational self and Buddhist non-self, can lead to moral action. By demonstrating the strengths of the model, emphasizing how social and cultural influences constrain the individual self and promote the social person leading to moral action, the paper extends understanding of the self with empirical evidence of the mechanisms involved in organizational contexts
  • Modelling corporate bank accounts

    Fry, John; Griguta, V.; Gerber, L.; Slater-Petty, H.; Crockett, K. (2021)
    We discuss the modelling of corporate bank accounts using a proprietary dataset. We thus offer a principled treatment of a genuine industrial problem. The corporate bank accounts in our study constitute spare, irregularly-spaced time series that may take both positive and negative values. We thus builds on previous models where the underlying is real-valued. We describe an intra-monthly effect identified by practitioners whereby account uncertainty is typically lowest at the beginning and end of each month and highest in the middle. However, our theory also allows for the opposite effect to occur. In-sample applications demonstrate the statistical significance of the hypothesised monthly effect. Out-of-sample forecasting applications offer a 9% improvement compared to a standard SARIMA approach.
  • The role of peer effects in corporate employee welfare policies

    Rind, A.A.; Akbar, Saeed; Boubaker, S.; Lajili-Jarjir, S.; Mollah, S. (Wiley, 2021)
    This paper investigates the role of peer effects in the employee welfare policies of organizations. Using US panel data for a sample of 11,451 firm-year observations from 1996 to 2017, we find that firms’ employee welfare decisions are driven by their peers and show that peer firms play a significant role in defining corporate employee welfare policies. Our findings are robust to various sensitivity checks, including alternative definitions of employee welfare, alternative peer proxies, and several identification strategies. Our additional analysis shows that herding behavior is prevalent in followers, who mimic leaders' behavior, but we do not find any such relationship for industry leaders. Further, we show the evidence suggesting that mimetic and normative isomorphic pressures are driving the peer effects. Finally, we document the economic consequence of peer mimicking in employee welfare policies. Our findings on firms’ peer effects and herding behavior have policy implications.
  • Social media analytics for end-users’ expectation management in information systems development projects

    Banerjee, S.; Singh, J.P.; Dwivedi, Y.K.; Rana, Nripendra P. (2021)
    This exploratory research aims to investigate social media users’ expectations of information systems (IS) products that are conceived but not yet launched. It specifically analyses social media data from Twitter about forthcoming smartphones and smartwatches from Apple and Samsung, two firms known for their innovative gadgets. Tweets related to the following four forthcoming IS products were retrieved from 1st January 2020 to 30th September 2020: (1) Apple iPhone 12 (6,125 tweets), (2) Apple Watch 6 (553 tweets), (3) Samsung Galaxy Z Flip 2 (923 tweets), and (4) Samsung Galaxy Watch Active 3 (207 tweets). These 7,808 tweets were analysed using a combination of the Natural Language Processing Toolkit (NLTK) and sentiment analysis (SentiWordNet). The online community was quite vocal about topics such as design, camera and hardware specifications. For all the forthcoming gadgets, the proportion of positive tweets exceeded that of negative tweets. The most prevalent sentiment expressed in Apple-related tweets was neutral but in Samsung-related tweets was positive. Additionally, it was found that the proportion of tweets echoing negative sentiment was lower for Apple compared with Samsung. This paper is the earliest empirical work to examine the degree to which social media chatter can be used by project managers for IS development projects, specifically for the purpose of end-users’ expectation management.
  • The optimal configuration of IT-enabled dynamic capabilities in a firm’s capabilities portfolio: A strategic alignment perspective

    Majhi, S.G.; Anand, A.; Mukherjee, A.; Rana, Nripendra P. (2021-05)
    Although IT-enabled dynamic capabilities (ITDCs) add value to firms operating in turbulent and rapidly changing environments, firms face several challenges in developing, deploying, and maintaining the right portfolio of ITDCs. Since ITDCs are not uniformly advantageous, firms need to make strategic decisions in order to accomplish the complex task of achieving optimal ITDC configurations. This conceptual paper draws on the strategic alignment perspective to identify the optimal configuration of ITDCs for a firm based on its business strategy orientation indicated by the Miles and Snow typology. This paper first explicates the theoretically ideal configurations of ITDCs based on the competitive strategy patterns associated with each Miles and Snow archetype and then develops a model for measuring the strategic fit of ITDCs. This paper contributes to the literatures on ITDCs and strategic alignment by identifying optimal ITDC configurations and by conceptualizing the strategic fit of ITDCs respectively.
  • Understanding AI adoption in manufacturing and production firms using an integrated TAM-TOE model

    Chatterjee, S.; Rana, Nripendra P.; Dwivedi, Y.K.; Baabdullah, A.M. (2021-09)
    This study aims to identify how environmental, technological, and social factors influence the adoption of Industry 4.0 in the context of digital manufacturing. The Industry 4.0 era has brought a breakthrough in advanced technologies in fields such as nanotechnology, quantum computing, biotechnology, artificial intelligence, robotics, the Internet of Things, fifth-generation wireless technology, fully autonomous vehicles, 3D printing and so on. In this study, we attempted to identify the socioenvironmental and technological factors that influence the adoption of artificial intelligence embedded technology by digital manufacturing and production organizations. In doing so, the extended technology-organization-environment (TOE) framework is used to explore the applicability of Industry 4.0. A conceptual model was proposed that used an integrated technology acceptance model (TAM)-TOE model and was tested using survey-based data collected from 340 employees of small, medium and large organizations. The results highlight that all the relationships, except organizational readiness, organizational compatibility and partner support on perceived ease of use, were found to be significant in the context of digital manufacturing and production organizations. The results further indicated that leadership support acts as a countable factor to moderate such an adoption.
  • Developing a modified total interpretive structural model (M-TISM) for organizational strategic cybersecurity management

    Rajan, R.; Rana, Nripendra P.; Parameswar, N.; Dhir, S.; Sushil; Dwivedi, Y.K. (2021-05)
    Cybersecurity is a serious issue that many organizations face these days. Therefore, cybersecurity management is very important for any organization. Organizations should learn to deal with these cyber threats through effective management across all business functions. The main purpose of this study is to identify the factors that affect cybersecurity within an organization and analyze relationships among these factors. The modified total interpretive structural modeling (M-TISM) technique is used to build a hierarchical model and define the common interactions between the factors. This study presents the impact of collaboration, training, resources and capabilities, information flow, technology awareness, and technological infrastructure on effective cybersecurity management. In addition, the study also explains the interrelationships among the identified factors in the M-TISM model.
  • Supply chain agility responding to unprecedented changes: empirical evidence from the UK food supply chain during COVID-19 crisis

    Do, Q.; Mishra, N.; Wulandhari, N.B.I.; Ramudhin, A.; Sivarajah, Uthayasankar; Milligan, G. (2021)
    Purpose: The COVID-19 outbreak has imposed extensive shocks embracing all stages of the food supply chain (FSC). Although the magnitude is still unfolding, the FSC responds with remarkable speed, to mitigate the disruptive consequences and sustain operations. This motivates us to investigate how operationalising supply chain agility (SCA) practices has occurred amid the COVID-19 crisis and expectations for how those practices could transform the supply chain in the post-COVID-19 era. Design: Following an exploratory case-based design, we examine the various agile responses that three supply chains (meat, fresh vegetables and bread) adopted and elaborate using the dynamic capability (DC) theoretical lens. Findings: First, the findings demonstrate how, in the wake of the COVID-19 pandemic, each affected case pursued various agile responses through sensing and seizing capabilities. Sensing includes identifying and assessing the relevant opportunities and threats associated with the specific supply chain context. Seizing involves acquiring, combining and modifying the tangible and intangible resources at the firm and supply chain levels. Second, supply chain transformation is likely if firms and their supply chain develop the sustaining capability to ensure that the desirable changes outlast the crisis. Originality: This study provides a novel and unique perspective on the role of SCA in crisis—in this case, the pandemic. We synthesise the empirical stories of the agile responses in the FSC and elaborate on the DC framework, to identify theoretical and practical implications. We establish the sustaining capability as the missing DC capability for enabling transformation in the post-COVID-19 era. Practical contribution: This study provides an actionable guide for practitioners to develop agile responses to systemic changes in times of crisis and to sustain favourable changes so as to enable their outlasting the crisis.
  • Exploring circular economy in the hospitality industry: empirical evidence from Scandinavian hotel operators

    Fabrice, Sorin; Sivarajah, Uthayasankar (2021)
    The circular economy is gaining momentum in corporate circles and European economic policies. However, its relevance and applicability to service dominated industries, such as tourism and hospitality, is poorly researched. This study investigates Scandinavian hotel operators’ understanding of the circular economy, its drivers, enablers, barriers, and value creation potential. This exploratory study gathers feedback from ten Scandinavian hotel chains managers and proposes a circular economy applicability framework to test the concept’s relevance to hotel operators. The research findings highlight respondents’ interest and expose introductory to intermediate level of understanding of the circular economy. Conditional to specific enabling levers, the research confirms the applicability and value creation potential of the circular economy to hotel operators. The research provides hotel operators with recommendations on circular economy value creation opportunities, deployment pathways and suggests future research directions.
  • Transcultural identity development among third generation minority consumers

    Takhar, A.; Jamal, A.; Kizgin, Hatice (2021-09)
    This study explores how global and local forces influence the processes of consumer re-acculturation amongst third-generation British Sikhs in the United Kingdom (U.K.). Data is collected over a three-year period using multiple methods that focus on the experiential consumption of by third-generation British-born Sikhs. Data is analysed using thematic analysis, and findings reveal three transcultural identity patterns: accommodating, re-acculturating, and resisting Sikh culture. We argue that the emergent identity patterns are fluid, as our participants feel neither wholly British, wholly Sikh, nor wholly British-Sikh, positioning themselves beyond, rather than against, Sikh or British culture. We uncover the connectedness between the traditional cultural practices of arranged marriages and the space of, a matrimonial website. We interpret this website as a medium through which transcultural identities are constructed. We contribute to theory by showing the development of transcultural patterns of consumption and consistent transcultural identity construction in non-migrating ethnic communities.
  • IPR Law Protection and Enforcement and the Effect on Horizontal Productivity Spillovers from Inward FDI to Domestic Firms: A Meta-Analysis

    Christopoulou, D.; Papageorgiadis, N.; Wang, Chengang; Magkonis, G. (2021-04-23)
    We study the role of the strength of Intellectual Property Rights (IPR) law protection and enforcement in influencing horizontal productivity spillovers from inward FDI to domestic firms in host countries. While most WTO countries adopted strong IPR legislation due to exogenous pressure resulting from the signing of the Trade-Related Aspects of IPR (TRIPS) agreement, public IPR enforcement strength continues to vary significantly between countries. We meta-analyse 49 studies and find that public IPR enforcement strength has a direct positive effect on horizontal productivity spillovers from inward FDI to domestic firms and a negative moderating effect on the relationship between IPR law protection strength and horizontal productivity spillovers from inward FDI to domestic firms.
  • A meta-analysis of the UTAUT model in the moblie banking literature: The moderating role of sample size and culture

    Jadil, Y.; Rana, Nripendra P.; Dwivedi, Y.K. (2021-08)
    In the last few years, several studies have examined the predictors of mobile banking (m-banking) adoption using the unified theory of acceptance and use of technology (UTAUT). However, contradictory results in some of the UTAUT relationships were found in the existing literature. Therefore, we aim to clarify and synthesize the empirical findings from the m-banking studies published since 2004 by conducting weight and meta-analysis with a focus on the UTAUT theory. We also seek to identify the roles of moderating variables on each UTAUT path. A total of 364 path coefficients from 127 studies were relevant for data analysis. CMA software V3 was employed to combine the effect sizes. All UTAUT relationships were found to be significant. Performance expectancy emerged as the strongest antecedent of usage intention. We also find that usage intention is the most critical predictor of use behavior. It was also revealed that sample size and culture significantly moderated the linkages between facilitating conditions and usage intention, effort expectancy and usage intention, and usage intention and use behavior. Theoretical contributions and managerial implications are also discussed toward the end.
  • Propagation of online consumer-perceived negativity: Quantifying the effect of supply chain underperformance on passenger car sales

    Singh, A.; Jenamani, M.; Thakker, J.J.; Rana, Nripendra P. (2021-08)
    The paper presents a text analytics framework that analyses online reviews to explore how consumer-perceived negativity corresponding to the supply chain propagates over time and how it affects car sales. In particular, the framework integrates aspect-level sentiment analysis using SentiWordNet, time-series decomposition, and bias-corrected least square dummy variable (LSDVc) – a panel data estimator. The framework facilitates the business community by providing a list of consumers’ contemporary interests in the form of frequently discussed product attributes; quantifying consumer-perceived performance of supply chain (SC) partners and comparing the competitors; and a model assessing various firms’ sales performance. The proposed framework demonstrated to the automobile supply chain using a review dataset received from a renowned car-portal in India. Our findings suggest that consumer-voiced negativity is maximum for dealers and minimum for manufacturing and assembly related features. Firm age, GDP, and review volume significantly influence car sales whereas the sentiments corresponding to SC partners do not. The proposed research framework can help the manufacturers in inspecting their SC partners; realising consumer-cited critical car sales influencers; and accurately predicting the sales, which in turn can help them in better production planning, supply chain management, marketing, and consumer relationships.
  • Consumer reactions to nudity in print advertising: Comparing same-gender and opposite-gender effects

    Trivedi, Rohitkumar; Teichert, T. (2021-01)
    It is often assumed that exposure to nude stimuli in advertising influences consumer behavior positively. However, the empirical evidence concerning the effects of nudity on consumer reactions is inconclusive. The goal of this study is to disentangle the effects of opposite-gender and same-gender nudity on female and male consumers' reactions. This study, thereby, offers a framework for the appropriate choice of seminude or fully clothed human stimuli based on advertisers' objectives and consumer–model gender interactions. The empirical data were derived from a large-scale market research initiative from Germany with 61,399 consumer evaluations of 147 real ads from 16 product categories. Female consumers show positive same-gender results for both seminude and fully clothed female models, indicating strong homophily, but nonsignificant opposite-gender effects on information search, positive attitude change, integration of brand into consideration set, and purchase intentions. In contrast, male consumers demonstrate a significantly positive and equally strong influence of opposite-gender and same-gender seminude stimuli on all of the four variables.
  • Bilingual Cyber-aggression Detection on Social Media using LSTM Autoencoder

    Kumari, K.; Singh, J.P.; Dwivedi, Y.K.; Rana, Nripendra P. (2021-07)
    Cyber-aggression is an offensive behaviour attacking people based on race, ethnicity, religion, gender, sexual orientation, and other traits. It has become a major issue plaguing the online social media. In this research, we have developed a deep learning-based model to identify different levels of aggression (direct, indirect and no aggression) in a social media post in a bilingual scenario. The model is an autoencoder built using the LSTM network and trained with non-aggressive comments only. Any aggressive comment (direct or indirect) will be regarded as an anomaly to the system and will be marked as Overtly (direct) or Covertly (indirect) aggressive comment depending on the reconstruction loss by the autoencoder. The validation results on the dataset from two popular social media sites: Facebook and Twitter with bilingual (English and Hindi) data outperformed the current state-of-the-art models with improvements of more than 11% on the test sets of the English dataset and more than 6% on the test sets of the Hindi dataset.

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