Threshold capital structure and predictors of choice between distribution strategies

2021 ◽  
Vol 14 (1) ◽  
Author(s):  
Mpinda F. Mvita ◽  
Leon M. Brummer ◽  
Hendrik P. Wolmarans
Keyword(s):  
Capital Structure ◽  
Fixed Effects ◽  
Structural Equation ◽  
Multinomial Logistic Regression ◽  
Threshold Effect ◽  
Equation Model ◽  
Managerial Implication ◽  
Dividend Payments ◽  
Value Add ◽  
The Impact

Orientation: The determination of a threshold capital structure and company specific attributes as predictors of choice between distribution strategies is crucial in the creation of shareholders’ wealth.Research aim: To investigate whether the change in regimes given a threshold capital structure maximises distribution strategies over the period 1990–2017 and 1999–2017. In addition, the study examined how the capital ratio and company specific attributes were used in the process of choosing between distribution strategies.Motivation for the study: The need to determine the impact of the capital ratio within different regions on distribution strategies motivated this study. In addition, the majority of studies on predictors of choice between distribution strategies have ignored the dual and the no distribution policy alternatives relative to share repurchases.Research approach/design and method: all the data used in this research were sourced from the Iress data bases. The research employed an advanced panel threshold regression estimation and a multinomial logistic regression (pooled and fixed effects using the generalised structural equation model).Main findings: Firstly, over the period 1990–2017 the empirical results revealed the existence of a single threshold effect between the debt-to-equity ratio and the dividend payments, and a double threshold effect between the total debt based on the book value and the dividend payment. Secondly, the choice between distribution strategies was driven by company specific attributes.Practical/managerial implication: These findings provide useful insights to South African managers for formulating and maximizing pay-out decisions.Contribution/value-add: The study contributes to the scant body of knowledge on the effect of threshold capital ratio and company specific attributes on distribution strategies.

scholarly journals Destination image and its consequences in the perspective of four-stage loyalty model (an empirical evidence from visitors of Tarakan City, Indonesia)

2018 ◽  
Vol 16 (2) ◽  
pp. 269-278
Author(s):  
Marso ◽  
Sri Gunawan
Keyword(s):  
Empirical Evidence ◽  
Structural Equation Model ◽  
Structural Equation ◽  
Research Result ◽  
Equation Model ◽  
Destination Image ◽  
Tourism Destination ◽  
Managerial Implication ◽  
Cognitive Component ◽  
The Impact

The study was conducted to test the postulate of four-stage loyalty model through the concept of destination image to represent cognitive component, satisfaction for affective aspect, and intention loyalty as the representative of conative component. The sample in this research was 102 tourists who visited Tarakan City, Indonesia in November 2016. The structural equation model showed that destination image was satisfaction antecedent, and satisfaction was the antecedent of intention loyalty. The impact of destination image towards intention loyalty was fully mediated by satisfaction. Theoretically, this research result had the implication in developing loyalty theory, while the managerial implication was beneficial to increase visitors loyalty to Tarakan City as a tourism destination.

#INCLUSION – THE IMPACT OF SOCIAL MEDIA COMMUNICATION ON THE LEGITIMACY OF ARMED FORCES

2019 ◽  
pp. 43-60
Author(s):  
EVA MOEHLECKE DE BASEGGIO ◽  
OLIVIA SCHNEIDER ◽  
TIBOR SZVIRCSEV TRESCH
Keyword(s):  
Social Media ◽  
Political Communication ◽  
Structural Equation ◽  
Armed Forces ◽  
Equation Model ◽  
Media Communication ◽  
The Public ◽  
Political Legitimation ◽  
Social Media Communication ◽  
The Impact

The Swiss Armed Forces (SAF), as part of a democratic system, depends on legitimacy. Democracy, legitimacy and the public are closely connected. In the public sphere the SAF need to be visible; it is where they are controlled and legitimated by the citizens, as part of a deliberative discussion in which political decisions are communicatively negotiated. Considering this, the meaning of political communication, including the SAF’s communication, becomes obvious as it forms the most important basis for political legitimation processes. Social media provide a new way for the SAF to communicate and interact directly with the population. The SAF’s social media communication potentially brings it closer to the people and engages them in a dialogue. The SAF can become more transparent and social media communication may increase its reputation and legitimacy. To measure the effects of social media communication, a survey of the Swiss internet population was conducted. Based on this data, a structural equation model was defined, the effects of which substantiate the assumption that the SAF benefits from being on social media in terms of broadening its reach and increasing legitimacy values.

Does gender diversity in supervisory boards affect gender diversity in management boards in Germany? An empirical analysis

2021 ◽  
pp. 239700222199714
Author(s):  
Dennis Fleischer
Keyword(s):  
Fixed Effects ◽  
Structural Equation ◽  
Gender Diversity ◽  
Supervisory Board ◽  
Board Members ◽  
Governance System ◽  
Management Board ◽  
Supervisory Boards ◽  
Gender Quota ◽  
The Impact

Social aspects like gender diversity in the boardroom are becoming increasingly relevant and are a popular topic of public debate in the context of gender equality in business. However, there is little clarity about the potential spill-over effects of gender diversity. Both theory and empirical results have led to ambiguous conclusions with respect to the effect of gender diversity in the supervisory board on gender diversity in the management board. In addition, it is not clear whether the German gender quota legislation positively affects this relationship. This study analyses whether gender diversity in the supervisory board supports the gender diversity of the management board, and whether this relationship is affected by the gender quota legislation, focusing on the unique case of Germany. To cope with endogeneity concerns, this study employs a cross-lagged panel model with fixed effects using maximum likelihood structural equation modelling. The results of the analysis of the impact of the number of female supervisory board members on the number of female management board members do not support the view of positive spill-over effects of gender diversity in the environment of the German two-tier corporate governance system. Furthermore, this study finds no evidence of an effect of the German gender quota on this relationship. JEL Codes G38, M12, M14, M51

A New Perspective for Understanding School Managers’ Roles: The Impact of Principals’ Boundary Activities on the Effectiveness of School Management Teams

2018 ◽  
Vol 120 (3) ◽  
pp. 1-40
Author(s):  
Pascale Benoliel ◽  
Anit Somech
Keyword(s):  
Public Schools ◽  
School Leadership ◽  
Structural Equation ◽  
Equation Model ◽  
Management Teams ◽  
Role Performance ◽  
New Perspective ◽  
Mean Differences ◽  
The Impact

Background/Context Increasingly, educational leadership research has stressed that leadership is not solely embedded in formal roles but often emerges from relationships between individuals. Senior management teams (SMTs) are an important expression of a formal management structure based on the principle of distributed leadership. Such structures may require a reconceptualization of school leadership and the role of the principal in such a way as to better meet new challenges and enable principals to manage SMTs more effectively. Accordingly, it is proposed that to improve effectiveness, principals engage in boundary activities, the principals’ internal activities directed toward the SMT aimed at dealing with internal team matters and the principals’ external activities directed toward external agents in the team's focal environment to acquire resources and protect the team. Purpose/Objective The present study attempts to advance a theoretical model of principals’ internal and external activities toward their SMTs. This study's purpose is twofold: First, the study tries to determine which of the internal and external activities principals engage in more frequently and less frequently and to what extent. Second, the study attempts to determine how these activities are related to the SMT effectiveness outcomes: in-role performance and innovation. Taking on a distributive perspective to school leadership, our goal is to extend our knowledge about the activities that might facilitate SMT effectiveness, by highlighting the principal boundary activities as fundamental. Research Design Quantitative study. Data Collection and Analysis Data were collected from two sources to minimize problems associated with same source bias: 92 SMTs and their principals from 92 public schools in Israel. Principals evaluated the SMTs’ effectiveness through validated surveys of team in-role performance and team innovation, and SMT members evaluated the internal and external activities of the principal. Findings/Results ANOVA analyses indicate significant mean differences between the principal's internal and external activities. Results from Structural Equation Model indicate that internal activities were related to SMT performance, whereas external activities were related to SMT innovation. Conclusions/Recommendations Principals who manage both the internal SMT dynamic by promoting SMT identity and building team trust, while also promoting a common mission, serve the role of coordinator between SMT members and constituencies external to the SMT, enhancing SMT effectiveness. It may be, then, that studying new models of school leadership and management, including the relationship of the principal and the SMT, may deepen our understanding of the increasingly complex role of principals today.

Electronic Customer Relationship Management (E-CRM) and Customer Loyalty

2022 ◽  
Vol 18 (1) ◽  
pp. 0-0
Keyword(s):  
Customer Satisfaction ◽  
Customer Loyalty ◽  
Structural Equation ◽  
Service Providers ◽  
Positive Impact ◽  
Equation Model ◽  
Mediating Effect ◽  
Customer Relationship ◽  
The Impact ◽  
The Relationship

This study examined the impact of E-CRM on customer loyalty with the mediating effect of customer satisfaction in the banking industry. Customer satisfaction is important for loyalty because when the customers are satisfied with the services offered by their service providers, the relationship gets stronger which further leads to positive word-of-mouth. The data was collected using purposive sampling from 836 banks’ customers who were using E-CRM services and the data was analyzed using structural equation model (SEM) through AMOS. The results revealed that E-CRM and customer satisfaction had a significant positive impact on customer loyalty and also customer satisfaction partially mediated the relationship between E-CRM and customer loyalty. This study would offer useful acumen to both academicians and marketers and would help the bank managers to improve the quality of the services provided to their customers.

Information Disclosure, Social Responsibility, Trust, and Attitude Affect Loyalty to Housing Agents

2016 ◽  
Vol 44 (5) ◽  
pp. 717-726 ◽  
Author(s):  
Chun-Chang Lee ◽  
Yun-Ling Wu ◽  
Wen-Hsin Huang ◽  
Yu-Chen Lee ◽  
Pei-Ru Chen ◽  
...  
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Structural Equation Model ◽  
Information Disclosure ◽  
Structural Equation ◽  
Equation Model ◽  
Structural Relationships ◽  
Indirect Impact ◽  
Corporate Social ◽  
The Impact

We applied a linear structural equation model to explore the impact of information disclosure, social responsibility, trust, and attitude on consumers' loyalty to housing agents. Participants were 466 consumers and potential consumers of housing agency industry services, who completed a survey assessing the variables of interest. Results showed that information disclosure had a direct and significant impact on trust, and an indirect impact on trust through the mediator of corporate social responsibility (CSR), and that trust had an indirect and significant impact on loyalty through the mediator of attitude. The structural relationships among information disclosure, CSR, trust, and attitude should be acknowledged when discussing consumers' loyalty to housing agents.

scholarly journals PENGARUH SERVANT LEADERSHIP TERHADAP KOMITMEN ORGANISASIONAL DAN KINERJA PEGAWAI (Studi pada Pegawai Negeri Sipil di RSUD Wangaya Kota Denpasar)

2017 ◽  
pp. 2731
Author(s):  
I Gede Hendry Kamanjaya ◽  
Wayan Gede Supartha ◽  
IG.A. Manuati Dewi
Keyword(s):  
Organizational Commitment ◽  
Servant Leadership ◽  
Structural Equation ◽  
Employee Performance ◽  
Equation Model ◽  
Partial Least Square ◽  
Least Square ◽  
Inferential Analysis ◽  
The Impact

This study is focused to analyze the impact of servant leadership on employee performance in relation to the organizational commitment mediation. It is a causality research, providing an explanation and understanding about the impact of servant leadership on employee performance and the impact of servant leadership on organizational commitment. The sample of the research are 90 civil servants in Wangaya General Hospital as the respondents. In this study questionares are used as instuments of the research. Descriptive and inferential analysis were applied as method of analysis and Structural Equation Model-Partial Least Square (SEM-PLS) as a tool. The result is that servant leadership does not have any significant effect on employees performance, servant leadership has a positive and significant effect on organizational commitment, organizational commitment has positive and significant effect on employee performance, and the impact on servant leadership and employee performance through the role of organizational commitment as mediating variable is supported.

scholarly journals Pengaruh Elemen Sensory Branding Terhadap Perilaku Pengambilan Keputusan Konsumen Dalam Membeli Aqua Dengan Pendekatan Neuromarketing Di Kabupaten Jember

2017 ◽  
Vol 4 (1) ◽  
pp. 44
Author(s):  
Dimas Khurniawan ◽  
Mohammad Dimyati ◽  
Deasy Wulandari
Keyword(s):  
Decision Making ◽  
Structural Equation Model ◽  
Structural Equation ◽  
Equation Model ◽  
Purposive Sampling ◽  
Instrument Analysis ◽  
Decision Making Behavior ◽  
The Impact

The purpose of this study acclaims the important of Auditory, Visual and Tactile in affecting consumer’s decision makingbehavior of buying, it is also to figure out it’s impact in Aqua. Thus, it is important to study “The Impact Of SensoryBranding’s Elements On Consumer’s Decision Making Behavior Of Buying Aqua With Neuromarketing Approach InJember”. The population in this study are Aqua’s consumers in Jember. Sampling is taken using purposive sampling methodfrom 100 respondents. Instrument analysis in this study is performed using Structural Equation Model (SEM) withconfirmatory approach. The result shows that: 1) auditory significantly affects consumer’s decision making behavior of buyingAqua in Jember, 2) visual significantly affects consumer’s decision making behavior of buying Aqua in Jember, and 3) tactilesignificantly affects consumer’s decision making behavior of buying Aqua in Jember.

scholarly journals Patient Engagement in Health Management as a Mediator Between Perceived Risk and COVID-19 Related Distress in Patients With IBD: A Structural Equation Model

2021 ◽  
Vol 12 ◽  
Author(s):  
Greta Castellini ◽  
Lorenzo Palamenghi ◽  
Mariarosaria Savarese ◽  
Serena Barello ◽  
Salvatore Leone ◽  
...  
Keyword(s):  
Psychological Distress ◽  
Perceived Stress ◽  
Patient Engagement ◽  
Perceived Risk ◽  
Structural Equation ◽  
Structural Equation Models ◽  
Health Management ◽  
Equation Model ◽  
Online Questionnaire ◽  
The Impact

Objective: This study aimed to evaluate the impact of the COVID-19 emergency on patients with IBD's psychological distress, understanding the role of patient engagement as a mediator.Methods: An online questionnaire was created, measuring perceived risk susceptibility toward COVID-19, perceived stress, and patient engagement. The questionnaire was distributed to a purposive sample of IBD patients who belonged to the Italian Association for patients with IBD (AMICI Onlus) in April 2020. Structural equation models were implemented.Results: The effect of the perceived risk susceptibility toward COVID-19 contagion on the perceived stress is fully mediated by patient engagement (β = 0.306, p < 0.001). Moreover, the patient engagement mitigates the perceived stress (β = −0.748, p < 0.001) in our sample of IBD patients, and it is negatively influenced by the perceived risk susceptibility toward COVID-19 (β = −0.410, p < 0.001).Conclusion: Patient engagement is the key factor that explains how the perceived risk susceptibility toward COVID-19 affects the perceived psychological distress in patients with IBD, underlining that the perceived risk of contagion increases their perceived level of stress through a decrease of patient engagement.

scholarly journals ANALYSIS OF THE IMPACT OF LEADERSHIP STYLE AND JOB SATISFACTION ON TURNOVER INTENTION THROUGH JOB STRESS AT CUSTOMER SERVICE (FRONTLINE) PT TIKI JALUR NUGRAHA EKAKURIR (JNE)

2019 ◽  
Vol 17 (1) ◽  
pp. 33
Author(s):  
Sri Mulyani ◽  
Hendra Gunawan
Keyword(s):  
Job Satisfaction ◽  
Job Stress ◽  
Customer Service ◽  
Leadership Style ◽  
Turnover Intention ◽  
Structural Equation ◽  
Equation Model ◽  
Primary Data ◽  
Negative Effect ◽  
The Impact

<p>The problem of this research was Turnover intention is a factor of discomfort experienced agent in a company. Turnover intention needs to get serious attention to the organization especially to leadership or manager so can applying force leadership proper and improve job satisfaction to reduce job stress in the company.<br />The purpose of this research was the effect of leadership style and job satisfaction toward Turnover intention throught job stress at customer service (frontline) PT Tiki Jalur Nugraha Ekakurir (JNE), Tomang Jakarta.<br />The methodology of this research was testing hypothesis. The data used were primary data collected from questionaire. The samples consisted of 164customer service (frontline)PT Tiki Jalur Nugraha Ekakurir (JNE), which were determined through purposive sampling method. The data were analyzed through Structural Equation Model (SEM) of AMOS version 23.0for Windows.<br />The results of the study showed that there have been negative effect and significant between leadership style and job satisfaction toward Turnover intention throught job stress. The role of job stress very dominant as a mediator the influence of leadership style and job satisfaction toward Turnover intention.<br />Implication of this research is expected to managers can increase the determinants job stress itself for example by raising job satisfaction (salary, reward, job promotion) and applying force leadership proper and able to adjust with all the work situation.</p>

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