Analyzing the role of values, beliefs and attitude in developing sustainable behavioral intentions: empirical evidence from electric power industry

Energy conservation is an economic, social, and environmental issue that offers various academic, practical, and policy implications. The growing magnitude, complexity, and relevance of energy wastage have attracted the attention of scholars and practitioners. There is a lack of consumer awareness towards electricity conservation practices of household consumers in the context of developing countries. This research utilized the theory of planned behavior to explain sustainable behavioral intentions in the context of electricity conservation. This research aims to measure the effect of beliefs, values, and attitudes on sustainable behavioral intentions in the energy conservation context. This research hypothesized awareness, compatibility, perceived value, resistance to change, and actual gain as predictors of attitude towards energy conservation and sustainable behavioral intentions. Using survey methodology, purposive sampling techniques were used to collect the data from young household consumers. Data of 246 electricity consumers of Pakistan were analyzed using confirmatory factor analysis (CFA) and structural equation modeling (SEM). Results of the study validate a significant relationship between attitude towards energy conservation and sustainable behavioral intentions. Based on results, it has been established that the amount of actual gain intentions and awareness are the main contributors to attitude towards energy conservation and sustainable behavioral intention. Compatibility and resistance to change were also significant precipitators of attitude towards energy conservation and sustainable behavioral intention. Perceived value was found a significant predictor of attitude towards energy conservation while insignificant towards sustainable behavioral intention. The study findings have a significant impact on government, policymakers, marketers, and academics interested in developing strategies to mitigate the effects of energy wastage. Prevention of resource wastage depends upon the awareness and consumption practices of the customers.

Account of a female Pakistani Ph.D. scholar: An Autoethnographic exploration

There is a paucity of scholarship about what to anticipate in the course of a Ph.D. program, the emotional toll, and embodied experience of a Ph.D. candidate — research that unveils the innards of Ph.D. experiences, predominantly female academics and is more upfront about it is much lacking. A “reflexive narrative approach” combined with a feminist outlook, using memory as a data source has been used to station an understanding of experience into a broader array of literature. By this, the author explores the meaning of her doctoral journey. The author details and describes her experience, thoughts, and struggles with the self and others during this journey. Through this process, the author gains tenor, reckoning, and a better sense of direction for the future.

Managing Equity Investment Risk and Rate of Return Risk in Islamic Banking: A System Thinking Approach

This study aims to examine and explore the risk management practices with respect to Rate of Return Risk (RORR) and Equity Investment Risk (EIR) in the Islamic Banking Institutions (IBIs) of Pakistan through a systematic model which is called System Dynamic Model (SDM) by using system thinking methodology. This study has been conducted in three sequential phases to develop the qualitative System Dynamic Model for Rate of Return Risk Management and Equity Investment Risk Management. Firstly, the researchers developed preliminary Causal Loop Diagrams (CLD) based on the initial understanding achieved from the causal interconnections between various RORR and EIR characters through extensive literature review. Secondly, the researchers conducted semi-structured interviews with the experts to ratify, endorse and refine the initial CLD. Lastly, the data collected through interviews was analyzed to develop the final refined qualitative SDM. The study's findings indicate that the identification and measurement of the RORR and EIR in IBIs in Pakistan need to be strengthened by developing appropriate methodology. Moreover, the practices adopted by these financial institutions to mitigate and control the exposures of RORR and EIR are good and effective. This Qualitative SDM provides practical, constructive and productive understanding to the managers, policy-makers, regulators, shareholders and scholars regarding the RORR and EIR management mechanism of IBIs of Pakistan.

An Empirical Examination of Relative Income Hypothesis: Evidence from Pakistan

The present study empirically investigates the relevance of the various specifications of relative Income hypothesis (RIH) in the case of Pakistan. World Development Indicators’ data is analyzed over the period of 1986 to 2016. This study tests the existence of income, consumption, and habit ratchet effects at the National level. Based on stationarity tests the techniques of Box Jenkin, Two Stage Least Square, Generalized Methods of Moments, and Limited Information Maximum Likelihood Method are utilized to estimate the four versions of relative income hypothesis. Findings of this research validate the significant prevalence of three types of ratchet effects in case of Pakistan. In Duesenberry-Eckstein-Formm (DEF) model, habit ratchet effect is found to be stronger than income ratchet effect. Whereas in modified Davis model Consumption ratchet effect exceeds the habit ratchet effect. It is observed that long run marginal propensities to consume are closer to one which demonstrates smooth consumption behavior over long period in Pakistan. The estimated short run marginal propensities to consume are observed to be less than long run marginal propensities to consume that accords with the existing consumption theory. These findings imply that all ratchet effects put pressure upon consumers to maintain the highest standard of living enjoyed in the past. In this process households do not retain balance between savings and consumption. Based on these findings, it is suggested to consider the impact of societal factor in formulating policies to shape the consumption patterns.

Return spillover across Bitcoin markets and foreign exchange pairs dominated in major trading currencies

This study examines the dynamic nature of return spillover across Bitcoins indices and foreign exchange pairs denominated in 6 major trading currencies. The findings of spillover index, Spillover Asymmetry Measure (SAM) and frequency connectedness methodologies indicate that return spillover across Bitcoin markets and foreign exchange pairs dominated in six major trading currencies is very low. The intra-market return spillover for the Bitcoin markets and foreign exchange pairs is found to be significant. Presence of asymmetry in the return spillover is also found. Evidence indicates that return spillover are dominated in short horizon, with significant spillover occurring within 4 days of an event. The low integration of Bitcoin markets with the foreign exchange markets provide significant implication for portfolio diversification and risk minimization.

Credit Redistribution by Listed Manufacturing Firms in Pakistan and the Moderating Role of Financial Depth

An enhancement in the financial depth (FD) increases the availability of formal credit to firms. Resultantly credit redistribution (CR) by firms is likely to be reduced as they require less trade credit (TC). To provide evidence, how do managers respond to changes in financial depth while making adjustments in their trade credit policy, this paper aims to study the impact of financial depth on credit redistribution by listed manufacturing firms (LMFs). For the firm-level variables, we used a data set of 327 firms listed on PSX for the period 2005 to 2018. Private credit to GDP ratio and market capitalization to GDP ratio are used as proxies for financial depth. Unlike earlier studies, we applied a two-step System GMM estimator to control the endogeneity. The results of the regression analysis display a positive relationship between the use and the supply of trade credit by LMFs. It reveals that LMFs redistribute credit to their customers through trade credit channel. We found a significant and negative impact of FD on the supply of TC by LMFs. Further, we established that financial depth as a moderator has a buffering impact on the credit redistribution by listed firms. The study highlights the moderating role of FD and suggests the financial policymakers of firms to modify their credit policies in response to changes in financial depth. For future research, we suggest the investigation of the effect of financial policy interventions on credit redistribution by small and non-listed firms.

Can Pakistan Raise More External Debt? A Fiscal Reaction Approach

This study has assessed the role of existing policies in determining the state of debt sustainability for the Pakistan economy (1980- June 2019) through fiscal reaction function. This study adds to the literature in two aspects. First, a policy index has been constructed to formulate a debt-policy interactive term that implies whether or not existing macroeconomic policies contribute in making external debt sustainable in Pakistan. Second, this study has gauged the potential sustainable external debt through in-sample forecast method. The estimated results obtained by the ARDL method show that Pakistan has just entered into a phase of unsustainable debt burden in the long run as fiscal reaction analysis exhibits the weak significant negative relationship between primary balance and external debt to GDP ratio. Moreover, existing macroeconomic policies also show a negative association with the primary balance that implies the ineffectiveness of policies in making external debt sustainable for Pakistan. This study suggests that an increase in foreign inflows through remittances or export earnings may improve the debt sustainability state in Pakistan.

Making Sense of Sensemaking Process In the Face of Organizational Environment

Modern organization theory suggests that external environment is central to the organizational phenomena. Similarly, sensemaking is widely used to describe organizational actors and processes. Despite this significance of both constructs and their suggested interwoven occurrence in organizational landscape, sensemaking processes in the face of different types of organizational environments have not been studied. This paper furnishes a framework to describe which forms of sensemaking are useful in various types of organizational environment. At first, based on review of literature, we synthesized that sensemaking is a multifaceted process; which is retrospective as well perspective and continues as well as episodic. Moreover, it involves both individual and social cognition, and hence becomes individual as well organizational process. Subsequently, we have presented propositions regarding sensemaking processes in the face of simple, complex, dynamic and stable environments.

Selection and use of Mediation Testing Methods; Application in Management Sciences

This research article presents a comparative analysis of three major methods of mediation analysis i.e., Baron and Kenny, Sobel, Hayes indirect effect with bootstrap using PROCESS macro and Structural Equation Modeling (SEM). It discusses common issues associated with mediation analysis and common mistakes committed in the selection and application of method and in the interpretation of results. In this article we have developed and tested a variety of models including simple mediation, parallel mediation, and serial/sequential mediation models. We have used a research model drawn from management field which includes two independent variables (i.e., organization justice and corporate social responsibility), two dependent variables (i.e., employee wellbeing and organization performance) and two mediating variables (i.e., organization trust and organization culture). The article illustrates that bootstrapping has an advantage over Baron and Kenny method or with Sobel test. Besides, it has high statistical power and better control on type-I error. It produces better results even when data lacks the property of normal distribution. The article has many practical implications. More particularly for management researchers, it provides an in-depth understanding of how to correctly conduct mediation analysis.

Essentiality of non-essential purchases for digitally influenced, bottom of pyramid customers

This paper aims to broaden the understanding why bottom of pyramid customers in Pakistan purchase non-essential items despite their financial constraints. Qualitative data was collected through in-depth interviews from a purposive sample of 14 respondents. NVivo 12 was used to analyze data. In the light of self-determination theory, this hermeneutic inquiry suggests that bottom of pyramid customers who are negatively stereotyped on account of their consumption inadequacy, have a specific need to improve self-worth. They struggle to engage in socially relevant consumption practices, to avoid social exclusion. Internet increases their awareness about products that they consider necessary for a minimal level of decent living. This digital influence transforms their consumer behavior. Since consumer culture does not adequately define what makes up a minimally decent living, bottom of pyramid customers will keep on aspiring products that they perceive as socially relevant for a better lifestyle. These reasons make ‘non-essential’ purchases extremely essential and relevant for bottom of pyramid customers. This practice is observed in more affluent people too, however, the sacrifices that bottom of pyramid customers make in order to fulfill their need for a more respectable social standing, are relatively more critical than the trade-off that more affluent people make among their choices. This research will enable marketers to understand value requirements of bottom of pyramid customers more deeply and create more precise value propositions.