Cross-sectional return patterns in New Zealand’s registered and OTC stock markets

2015 ◽  
Vol 27 (1) ◽  
pp. 51-68 ◽  
Author(s):  
Hamish Anderson ◽  
Ben Marshall ◽  
Xiao Wang
Keyword(s):  
Stock Returns ◽  
Design Methodology ◽  
Explanatory Power ◽  
International Markets ◽  
Stock Exchanges ◽  
Cross Sectional ◽  
Over The Counter ◽  
Content Type ◽  
Pricing Factors ◽  
Practical Implications

Purpose – This paper aims to examine whether the cross-sectional return patterns in New Zealand’s main stock market (NZSX) are also present in the alternative (NZAX) and over-the-counter (Unlisted) markets. Design/methodology/approach – Cross-sectional regressions of monthly stock returns on well-known pricing factors including firm size, book-to-market (B/M) ratio, liquidity and past returns were run. The NZSX sample commenced in 1988 and continued through to 2011, while data are available for the Unlisted and NZAX markets from 2004 to 2011. Findings – The pricing factors that are important in explaining returns in major international markets also influence returns on the NZSX. However, only B/M is consistently priced across all New Zealand stock exchanges, including the alternative NZAX and Unlisted markets. There is evidence of reversal in NZAX stocks, but liquidity effects are not consistent or pervasive in either market. Practical implications – With B/M being the only consistently priced variable across all markets, investors in the NZAX and in particular Unlisted may be concerned with other risk factors. For example, the risks associated with differing levels of investor protection, corporate governance and disclosure may be of more concern to investors than pricing factors such as size, liquidity and past returns in these alternative trading platforms. Originality/value – The paper examines cross-sectional return patterns of the NZAX and Unlisted stocks and is the first paper to jointly test the explanatory power of size, B/M, past returns and liquidity factors for NZSX stocks.

Employees’ eldercare demands, strain, and perceived support

2015 ◽  
Vol 30 (2) ◽  
pp. 183-198 ◽  
Author(s):  
Hannes Zacher ◽  
Heiko Schulz
Keyword(s):  
Design Methodology ◽  
Self Report ◽  
Perceived Support ◽  
Use Of Self ◽  
Cross Sectional ◽  
Content Type ◽  
Cross Sectional Design ◽  
The Relationship ◽  
Practical Implications ◽  
Employed Caregivers

Purpose – In many countries, both the number of older people in need of care and the number of employed caregivers of elderly relatives will increase over the next decades. The purpose of this paper is to examine the extent to which perceived organizational, supervisor, and coworker support for eldercare reduce employed caregivers’ strain and weaken the relationship between eldercare demands and strain. Design/methodology/approach – Survey data were collected from 100 employed caregivers from one organization. Findings – Results showed that eldercare demands were positively related to strain, and perceived organizational eldercare support (POES) was negatively related to strain. In addition, high POES weakened the relationship between eldercare demands and strain. Research limitations/implications – The cross-sectional design and use of self-report scales constitute limitations of the study. Practical implications – POES is a resource for employed caregivers, especially when their eldercare demands are high. Originality/value – This research highlights the relative importance of different forms of perceived support for reducing employed caregivers’ strain and weakening the relationship between eldercare demands and strain.

Finding an effective strategy for international markets

2019 ◽  
Vol 36 (2) ◽  
pp. 13-15
Keyword(s):  
Case Studies ◽  
Design Methodology ◽  
Reading Time ◽  
International Markets ◽  
Effective Strategy ◽  
Marketing Capabilities ◽  
Content Type ◽  
Effective Performance ◽  
Pertinent Information ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Effective performance in international markets significantly depends on organizations adopting appropriate strategies. Utilizing marketing capabilities more than technological capabilities can better position a firm so it is able to customize products to meet the needs of different customers. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Customer perceptions of CSR authenticity

2018 ◽  
Vol 26 (4) ◽  
pp. 614-629 ◽  
Author(s):  
Saju Jose ◽  
Nilesh Khare ◽  
F. Robert Buchanan
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Design Methodology ◽  
Cross Sectional ◽  
Content Type ◽  
Customer Perceptions ◽  
Novel Approach ◽  
Big Picture ◽  
Corporate Social ◽  
Practical Implications

Purpose The purpose of this paper is to look at corporate social responsibility (CSR)-related actions to see whether they relate to clients’ perception of CSR. Design/methodology/approach Ninety-nine bank customers in Brisbane, Australia were surveyed by mail in a cross-sectional field study. Findings Not all CSR-related behaviors of the organizations were influential to perceptions of social responsibility. Big picture actions for the betterment of humanity were found to be influential to the perception of the firm’s CSR. However, respondents did not relate the firms’ profit and revenue initiatives to social responsibility, other than negativity toward false and misleading practices. Research limitations/implications Results are limited to one industry in Australia. Practical implications Actions for human betterment were found to be influential to the perception of the firm’s CSR. Also the uses of dishonest marketing schemes were seen as detrimental to CSR perceptions of the firm. However, respondents did not connect the firm’s business actions affecting profitability with customers, to their perceptions of its CSR. Thus, the authors conclude that altruism from a “big picture” standpoint has value in shaping CSR perception, but the organization may not always find it necessary to deprioritize profit, or to attempt to weave CSR actions into every aspect of their business. Originality/value The inquiry takes a novel approach to CSR, capturing an unexplored aspect of how CSR is perceived and valued by stakeholders.

scholarly journals Development and validation of the Work Environment Complexity Scale for leaders

2019 ◽  
Vol 32 (2) ◽  
pp. 296-308 ◽  
Author(s):  
Teresa Bezler ◽  
Giovanni B. Moneta ◽  
Gary Pheiffer
Keyword(s):  
Work Environment ◽  
Design Methodology ◽  
Work Demands ◽  
Frequent Change ◽  
Cross Sectional ◽  
Content Type ◽  
Two Factors ◽  
Leadership Research ◽  
Development And Validation ◽  
Practical Implications

Purpose The purpose of this paper is to develop and validate a Work Environment Complexity (WEC) Scale for leaders. Design/methodology/approach The paper uses both cross-sectional and longitudinal data, gathered in the course of major organisational restructuring, using samples from employees (n=305) and leaders (n=120) in two health care organisations. Findings The research developed and validated a scale of WEC for leaders with two factors: frequent change and events, and uncertain work demands. Comparisons between samples suggest diverging employee and leadership representations of WEC. Practical implications Being the first scale to measure the comprehensive construct of WEC, a foundation is laid to measure the amount of complexity in a leader’s work and the functioning of leaders with regards to WEC. Originality/value This paper contributes to leadership research and practice by clarifying the construct of WEC for leaders empirically and validating a bidimensional scale of WEC.

The student-customer orientation questionnaire (SCOQ)

2015 ◽  
Vol 29 (1) ◽  
pp. 115-138 ◽  
Author(s):  
Riina Koris ◽  
Petri Nokelainen
Keyword(s):  
Mixed Methods Research ◽  
Design Methodology ◽  
Customer Orientation ◽  
Educational Experiences ◽  
Educational Experience ◽  
Survey Study ◽  
Educational Institutions ◽  
Cross Sectional ◽  
Content Type ◽  
Practical Implications

Purpose – The purpose of this paper is to study Bayesian dependency modelling (BDM) to validate the model of educational experiences and the student-customer orientation questionnaire (SCOQ), and to identify the categories of educatonal experience in which students expect a higher educational institutions (HEI) to be student-customer oriented. Design/methodology/approach – This paper employs a cross-sectional quantitative survey study, mixed methods research, exploratory factor analysis and BDM. Findings – The validated model of educational experiences and the SCOQ; results indicate that students expect to be treated as customers in some, but not all categories of educational experience. Research limitations/implications – The authors contribute to existing literature on two fronts: the validated model of educational experiences and the categories of educational experience in which students expect to be treated as customers. Practical implications – The validated SCOQ presented in the paper may be used by other HEIs to assess the degree to which students expect a particular HEI to be customer oriented. Also, HEIs should assess students’ expectations concerning student-customer orientation before employing such an approach. Originality/value – The paper presents a validated model of educational experiences and a SCOQ. Additionally, the study does not investigate whether students expect a HEI as such to be student-customer oriented (as most studies have done so far); instead, the aim is to find out whether, in which categories of educational experience and to what extent students expect a HEI to be student-customer oriented. Thus, the study explores the phenomenon of student-customer orientation at a deeper level, i.e. separately at the level of educational experiences.

Agglomeration of fast food companies in Brazil

2017 ◽  
Vol 15 (3) ◽  
pp. 292-312
Author(s):  
Adriana Beatriz Madeira ◽  
Viviana Giampaoli
Keyword(s):  
Fast Food ◽  
Design Methodology ◽  
Food Chains ◽  
Industrial Agglomeration ◽  
Cross Sectional ◽  
Content Type ◽  
Foreign Companies ◽  
Related Information ◽  
Food Market ◽  
Practical Implications

Purpose This study aims to understand how the institutional and populational characteristics of a Brazilian city, that is, size, gross domestic product (GDP), life expectancy, education, violence and amount of workers benefiting from PAT (Workers’ Food Program) bias the agglomeration of fast-food companies. Design/methodology/approach The research involved 7,653 units distributed among 270 brands of fast-food chains (9 foreign and 261 Brazilian) operating in 542 Brazilian cities in 2015 and institutional and populational characteristics information about them. It calculated the Herfindahl index and implemented mixed inflated beta models. Findings The study found out that the agglomeration of establishments is mainly associated with the city’s income per capita, education, GDP and with some differences regarding the origin of the company, Brazilian or foreign. Research limitations/implications The limitations of the study are the availability of Brazilian cities' data and information about the fast-food companies, such as governance-related information and general infrastructure. The study was cross-sectional, which does not analyze the business installation speed. Practical implications This work provides data collection and analyzes which factors may contribute to the knowledge of the Brazilian fast-food market. It stands out that foreign companies do not seem to contemplate city violence. The proposed models can serve as an investors’ foundation to start, expand business and predict the number of establishments in a city. Originality/value The study highlights the relation between the cities’ institutional and populational characteristics and the aggregation of fast-food chains in Brazilian cities, using index commonly applied in industrial agglomeration.

DuPont analysis and dividend policy: empirical evidence from Malaysia

2018 ◽  
Vol 30 (1) ◽  
pp. 52-72
Author(s):  
Samuel Jebaraj Benjamin ◽  
Zulkifflee Bin Mohamed ◽  
M. Srikamaladevi Marathamuthu
Keyword(s):  
Design Methodology ◽  
Dividend Policy ◽  
Explanatory Power ◽  
Return On Assets ◽  
Policy Studies ◽  
Content Type ◽  
Market Participants ◽  
Dupont Analysis ◽  
Asset Turnover ◽  
Practical Implications

Purpose The purpose of this paper is to investigate the informativeness of asset turnover (ATO) and profit margin (PM) of the DuPont analysis in explaining dividend policy. Design/methodology/approach Annual financial data from Compustat for the period 2004-2009 were used to analyze a sample of Malaysian firms. Findings This study finds both PM and ATO to strongly explain contemporaneous dividends. The decomposition of return on net operating assets (RNOA) into PM and ATO also improves the explanatory power of dividends. The results of the predictive model show that PM and ATO are useful in predicting the propensity of firms to pay dividends. The results of the change dividend model, however, do not provide any significant results for PM and ATO. Practical implications Understanding the influence of ATO and PM on dividends could enable managers to realize the importance of these factors when making dividend policy decisions. Other market participants, such as financial analysts and lenders, could also recognize the empirical specifics related to decomposing the profitability measure into its two components, one measuring the asset efficiency and the other measuring the profitability per unit of product, in the context of dividend policy. Originality/value This study extends the empirical specifics of prior dividend policy studies by decomposing the popular profitability measure of return on assets into its two components of PM and ATO.

Forces influencing the speed of internationalisation

2016 ◽  
Vol 23 (1) ◽  
pp. 122-148 ◽  
Author(s):  
Henry Langseth ◽  
Michele O'Dwyer ◽  
Claire Arpa
Keyword(s):  
Product Innovation ◽  
Design Methodology ◽  
Foreign Market ◽  
International Markets ◽  
Tie Strength ◽  
Research Approach ◽  
Market Knowledge ◽  
Content Type ◽  
Global Vision ◽  
Practical Implications

Purpose – This study applies Oviatt and McDougall’s (2005) model of forces influencing the speed of internationalisation to small, export oriented enterprises. The purpose of this paper is to explore the significance of the forces enabling, motivating, mediating and moderating internationalisation in small and medium-sized enterprises (SMEs), and the manner in which these forces manifest themselves in the market. Design/methodology/approach – A qualitative research approach utilising eight case studies within Norway and Ireland was adopted in order to facilitate theory building required for this study. Findings – The findings demonstrate that four forces in particular are found to be strongly significant to the speed of internationalisation among the case SMEs: the enabling force of technology, the mediating force of entrepreneurial actor perceptions/owner-managers’ global vision and the moderating forces of foreign market knowledge and tie strength in networks. Practical implications – The empirical evidence has several implications for managers and policy regarding influencing the speed of internationalisation process. The enabling force (technology) has implications for government in their support of the SME macro environment. The motivating force (competition) has implications for government, in understanding what motivates entrepreneurs to enter international markets. The two moderating forces (foreign market knowledge and network tie strength) have implications for managers and can be leveraged through product innovation, increased focus on intellectual property rights for better protection against copycats, and through active and deliberate international networking. Originality/value – The paper suggests adjustments to Oviatt and McDougall’s (2005) model, permitting researchers to gain an in-depth understanding of the complex reality of SME internationalisation.

Using integrated weighted IRP-Fuzzy TISM approach towards evaluation of initiatives to harmonise Halal standards

2019 ◽  
Vol 26 (2) ◽  
pp. 434-451 ◽  
Author(s):  
Mohd Imran Khan ◽  
Shahbaz Khan ◽  
Abid Haleem
Keyword(s):  
Design Methodology ◽  
International Markets ◽  
Content Type ◽  
Effective Implementation ◽  
Integrated Methodology ◽  
Strategic Coordination ◽  
Interpretive Ranking Process ◽  
Coordination And Collaboration ◽  
Practical Implications ◽  
Total Interpretive Structural Modelling

PurposeMultiplicity and conflicting Halal standards involve unnecessary repetition of testing for demonstrating the Halal integrity of the process and the product, thus making it difficult for the Halal commodities to get traction in international markets. The purpose of this paper is to suggest initiatives to facilitate harmonisation of Halal standards as to eliminate trade barrier of Halal and to assure the availability of Halal consumables to larger masses.Design/methodology/approachRanking of the initiatives for the harmonisation of Halal standards taking in consideration the costs of accomplishment and associated benefits obtained has been done through the application of integrated Interpretive Ranking Process (IRP) and Fuzzy Total Interpretive Structural Modelling (Fuzzy TISM). This integrated methodology with the weighted criteria have refined the value of the net dominance of different variables, thereby increasing the efficacy of IRP in decision making.FindingsFindings suggest that strengthening the strategic coordination and collaboration among competent HCBs is a significant initiative. This initiative needs to be undertaken to mitigate the conflict between HCBs. This necessitates to develop a common platform in making the collective decision for effectively controlling Halal businesses. Moreover, recognising competent HCBs will prompt the effective implementation and execution of Halal standards across the supply chain, and ease the global trading of Halal products. A framework has been conceptualised to enable harmonisation of Halal standards which intimates to develop globally agreed protocols for Halal practices.Practical implicationsThe framework presented may act as a prelude to harmonise Halal standards and may positively affect the international trade of Halal commodities by phasing out the discriminatory and market-impeding standards.Originality/valueA harmonised system may provide correct information to the stakeholders and may help in making an informed decision.

Strategic planning key factor in tangible–intangible results in microenterprises

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jorge Armando López-Lemus ◽  
María Teresa De la Garza Carranza ◽  
Quetzalli Atlatenco Ibarra ◽  
José Guadalupe López-Lemus
Keyword(s):  
Strategic Planning ◽  
Structural Equation Model ◽  
Structural Equation ◽  
Design Methodology ◽  
Equation Model ◽  
The State ◽  
Cross Sectional ◽  
Content Type ◽  
Key Factor ◽  
Practical Implications

Purpose The objective of this research is to know the degree of influence that strategic planning (SP) exerts on the tangible and intangible results of business microenterprises in the state of Guanajuato, Mexico. Design/methodology/approach The methodological design was quantitative, explanatory, observational and cross-sectional, where a sample of 407 young leaders of microenterprises from the state of Guanajuato, Mexico, was obtained. To evaluate hypotheses, a structural equation model (SEM) was developed. Regarding the goodness and adjustment indices of the SEM, they were absolutely acceptable. Findings The results obtained through Pearson’s correlation show that there is a positive and significant relationship between SP and the tangible and intangible results of microenterprises. In addition, through the results obtained with the SEM model, it is statistically demonstrated that SP positively and significantly influences the tangible and intangible results of microenterprises in the state of Guanajuato, Mexico. Research limitations/implications In this research, only SP was valued as a variable that intervenes in the process of achieving tangible and intangible results to achieve the business objectives of entrepreneurial microenterprises in the state of Guanajuato. It is essential to point out that other variables that intervene in the process must be considered to generate tangible and intangible results. It is recommended to carry out further research under these variables to identify strategies for improving entrepreneurial microenterprises for their growth, sustainability and rapid positioning in a highly competitive market. Practical implications SP represents one of the tools to achieve the success of microenterprises through tangible and intangible results. However, microenterprises show a need to involve the use and application of SP to define clear indicators that contribute to obtaining satisfactory tangible and intangible results. Originality/value The findings are relevant and of great value, because there is currently not enough research that focuses on the variables analyzed, in this sense, SP and the tangible and intangible results of young entrepreneurial leaders of microenterprises in the Mexican context. The limitations of this study lie in the low participation and interest of young microenterprise entrepreneurs in the state of Guanajuato, Mexico.

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