Mobile Payment Services, Government Involvement, and Mobile Network Operator Performance

Problem definition: Recent developments in mobile payment services (MPS) have shown an increasing role of mobile-government (m-government) initiatives in improving the market performance of mobile network operators (MNOs) and financial inclusion. High costs and operational challenges have discouraged MNOs from fully committing to the development of MPS, but government involvement under m-government may increase MNO user bases by providing the scale and scope necessary to incentivize MNOs. Academic/practical relevance: Extant research on mobile payment has ignored the role of governments as important stakeholders in the mobile financial ecosystem. Our research contributes to the literature by examining the role of governments as business partners in MPS launches and the effect of government involvement on MNO user bases. Methodology: Using a unique proprietary data set from the mobile network industry, we design a quasi-experiment to examine the causal effects of government involvement in MPS on MNOs’ total mobile connections. More importantly, we adopt a changes-in-changes (CIC) estimation approach to further establish nonlinear treatment effects of government involvement based on MNO size and MPS type. Results: We find that government involvement expands MNO user bases beyond MPS launches. Such effects increase with MNO size and MPS variety, favoring larger MNOs and, to a certain degree, MNOs with diverse offerings of government-involved MPS. Government involvement in MPS launches also directly benefits MNOs with microloan services. In addition, government regulations and policies to encourage financial inclusion can also expand MNO user bases. Managerial implications: Governments play a critical role in promoting technologies and financial services both as a regulator and as a business partner. To improve market performance, MNOs should take advantage of the scale and scope of government services by partnering with government agencies in launching MPS. MNOs should also embrace government policies and regulations to increase user bases.

The Effects of Passenger Risk Perception During the COVID-19 Pandemic on Airline Industry: Evidence From the United States Stock Market

The COVID-19 pandemic has caused a dramatic reshaping of passenger risk perception for airline industry. The sharp increase in risk aversion by air passenger has caused a disastrous impact on the tourism service industry, particularly airline industry. Although the existing literature has provided a lot of studies on the impact of the pandemic on travel industry, there are very few studies discussing the impact of change in passenger risk perception on the stock market performance of airline industry. This study considers two types of airline companies, full-service and low-cost. In order to overcome the traditional problem of the Chow test, Quandt–Andrews test is used to identify structural change points during the pandemic in the stock prices of United States airline companies. The result shows that an industry-wide structural change in the stock market performance indeed is found to take place during the pandemic for United States airline companies. Meanwhile, no significant difference is found in the structural change date between the two types of airline companies. The selected airline companies are found to be clustered toward the end of 2020 (November and December) in their structural change dates. Although the strike of the COVID-19 pandemic on airline industry has proven to be widespread and profound, our investigation implies that air passengers have gradually adapted to the new normal of travel activities at some level and partly rebuild their sense of safety under the strict epidemic-control measures.

Exploring market orientation, product innovation and competitive advantage to enhance the performance of SMEs under uncertain evens

The purpose of this study is to build an empirical research model and prove the influence of market orientation on product innovation and competitive advantage. The study also proves the intervening role of product innovation and competitive advantage on increasing market performance. In addition, market uncertainty is also tested in moderation in strengthening the relationship between product innovation and competitive advantage in market performance. The study tests 178 samples of Batik SME players in Surakarta. A purposive sampling was used as this research’s sampling method. The result of this study proves empirically that market orientation positively, significantly influences product innovation and competitive advantage. The test of mediation role between product innovation and competitive advantage in market performance also shows positive and significant results. The result of the test on moderation role between Market uncertainty in the relationship between product innovation and competitive advantage on market performance also shows positive and significant influence on market performance.

The Role of Big Data Research Methodologies in Describing Investor Risk Attitudes and Predicting Stock Market Performance

The purpose of this chapter is to compare the performance of a deep learning modeling technique to predict market performance compared to conventional prediction modeling techniques. A secondary purpose of this chapter is to describe the degree to which financial risk tolerance can be used to predict future stock market performance. Specifically, the models used in this chapter were developed to test whether aggregate investor financial risk tolerance is of value in establishing risk and return market expectations. Findings from this chapter's examples also provide insights into whether financial risk tolerance is more appropriately conceptualized as a predictor of market returns or as an outcome of returns.

The Impact of Sustainable Certification on Financial and Market Performance: Evidence from Indonesian Palm Oil Companies

The palm oil industry is a strategic sector that plays an important role for national economics. Although the palm oil industry's role and contribution are high, land clearing and operation are often associated with environmental and social issues. The sustainable certification was then developed to ensure that palm oil companies can continue to operate without involving environmental and social deprivation. The previous research related to the impact of a sustainable certification found several positive and negative impacts on palm oil companies' performance in general. Therefore, this study aimed to determine the impact of sustainable certification on Indonesia's palm oil companies' financial and market performance. This research focused on 14 palm oil companies in Indonesia that went public with an observation year between 2014 and 2019. Analysis through panel regression found that sustainable certification has no impact on Indonesia's palm oil companies' financial and market performance. The study could be a recommendation and justification for palm oil companies for consider to take a sustainable certification.

Mengukur Kinerja Pasar Melalui Elemen Inovasi pada UKM Sektor Makanan dan Minuman di Kota Padang

In Small and Medium Enterprises (SMEs), especially in the food and beverage sector, process innovation is an important construct that can maintain the sustainability of product innovation and improve marketing innovation strategies for optimal market performance. This study aims to examine the effect of innovation elements, namely product, process, and marketing on the market performance of SMEs in the food and beverage sector, and the effect of marketing innovation on market performance when mediated by product innovation. Using a purposive sampling technique with the criteria of SMEs in the food and beverage sector that is not a franchise. A total of 104 feedback questionnaires was analyzed using the SmartPLS 3.3 software and Microsoft Excel. This study found that all hypotheses were supported significantly in a positive relationship.