On Exports and Economic Growth: Revisiting Export-Led Growth Hypothesis Including North-South Divide

Objective: The purpose of the present study is to revisit the export-led growth hypothesis in the wake of globalization. This will help in trade policy decisions and make it possible to standpoint whether the export promotion is a good idea to accelerate economic growth. Design: The ELG hypothesis is examined for 107 countries through panel data analysis using cointegration and panel regression tests from 1990 to 2018. The study finds strong support for the long-run relationship between exports and gross domestic product and the export-led growth hypothesis in a two-variable regression framework. Findings: It is evident from the long-run coefficient of dynamic ordinary least squared that a 1.0 percent increase in real exports increases the real gross domestic product by 0.53 percent. The long-run coefficient of real exports for the Global South (0.55) is found higher than that of the Global North (0.51), which indicates that in the wave of globalization, the evidence of export-led growth hypothesis is stronger for comparatively poor Global South than the richer Global North. Practical Implications: The results indicate implications for export promotion policy in the Global South countries to accelerate economic growth and increase real gross domestic product. Originality: The study is the first to explore the ELG hypothesis using a big pool of 107 countries, including the global north-south divide.

Job Insecurity and Turnover Intentions among Banking Sector Employees: The Moderating Role of Organizational Support and Ethical Leadership

Purpose - Job insecurity exerts a significant impact on turnover intentions among employees. The association may be partly due to the influence of organizational support and the ethicality of leaders. However, there is a shortage of studies on the ameliorating role of organizational support and ethical leadership in the nexus between job insecurity and turnover intentions. Thus, the purpose of this study is to examine the nexus between job insecurity and turnover intentions among banking sector employees. The moderating role of organizational support and ethical leadership on the underlying relationship was assessed to achieve this. Design/methodology/approach – One hundred and sixty (160) banking sector employees were conveniently selected to participate in the study. The sample consisted of female (n = 92) and male (n = 68) employees, ranging from 23 to 49 years. Standardized measures were used in soliciting respondents' demographic characteristics, perceived job insecurity, ethical leadership, organizational support, and turnover intentions. Data were analyzed using regression analysis. Findings – Results revealed a significant positive correlation between perceived job insecurity and turnover intentions. Organizational support and ethical leadership also moderated the association between job insecurity and turnover intentions. The influence of job insecurity on turnover intentions minimizes when management provides the needed support and favorable climatic conditions. Originality/value – In general, the study highlights the importance of organizational support and ethical leadership in lessening the impact of job insecurity on turnover intentions.

Does Environmental Knowledge Matter? Social Influence and Pro-Environmental Behavior in University Students: An Indirect Effect Model

Purpose- This study aims to provide an analytical framework that focuses on environmental knowledge as a mechanism through which social influence enhances pro-environmental behavior among university students. Design/Methodology- The research employed quantitative strategy, cross-sectional survey design, and systematic random sampling techniques to obtain data from a sample of 335 university students using a structured self-administered questionnaire. The study hypotheses were tested using Hayes Process Macro vs. 3.5 (Model 4). Findings- Results indicate that social influence strongly impacts students’ environmental knowledge, and both variables significantly predict pro-environmental behavior. Environmental knowledge was discovered to be the strongest predictor of pro-environmental behavior among students. Finally, results show that environmental knowledge mediates the relationship between social influence and pro-environmental behavior, revealing a complimentary mediation model superior to the direct effect model. Originality- These findings reveal that social influence and students’ environmental knowledge have a strong influence in cultivating students’ pro-environmental behavior. Furthermore, the complementary mediation model, which shows superior results than the direct effect model, contributes to the body of knowledge and offers new insights into theory and practice. Practical Implications- Environmental sustainability may be positioned as a social trend by government and business agencies, such as a promotional campaign, workshops, and training to demonstrate and raise awareness about environmental issues.

Impact of Corporate Governance on Financial Returns of Indian Listed Companies

Purpose- In this paper, we have evaluated the relationship of corporate governance with companies’ financial returns using return on assets (ROA) and return on capital employed (ROCE) as proxies. For this purpose, companies listed in Nifty-50 are considered as a sample. Design/Methodology- The present study is conducted on the NIFTY-50 Index with a final sample of 35 companies after excluding banking companies, financial services companies, and companies that did not have the required data in the sample period. Data has been collected for ten years from 2009-10 to 2018-19, and they are analyzed with the help of software packages such as SPSS and Stata. Findings- The results showed that firms’ financial return measures (ROA and ROCE) were significantly affected by governance measures, board committees, and CEO duality. Board size, board meetings, and board independence did show positive relation, but it was not significant. Our analysis observed that corporate governance significantly affected the financial return of Indian listed companies. Practical Implications- Our research work indicated the importance of corporate governance in generating financial returns for Indian listed companies. CEO duality is found to be increasing the ROCE of listed companies in India, and therefore investors should choose such companies where the CEO plays a dual role in the board. Also, policymakers should take into consideration the dual role of CEOs while making changes in company regulations.

Green Human Resource Management Practices and Environmental Performance in Ghana: The Role of Green Innovation

Purpose- Protecting the natural environment and its wealth for future generations has become an essential topic for policymakers and executives. This study seeks to examine the impact of green Human Resource Management practices through green innovation on the environmental performance of small and medium-sized manufacturing enterprises in Ghana. Design/Methodology- Through simple random probability sampling, data were obtained from three hundred (300) business owners and employees from ten (10) small and medium-sized manufacturing enterprises in the Greater Accra Region of Ghana. However, two hundred and ninety-four (294) accurate responses were used in the analysis due to incomplete and missing figures. Data were analyzed using partial least squared based on Structural Equation Modeling (SEM). Findings- The studied data met internal consistency reliability, convergent, and discriminant validity from the results, and also, there was no multicollinearity issue in the study model. The findings revealed that green Human Resource Management practices directly and significantly influence environmental performance. Furthermore, green innovation partially mediated the influence of green Human Resource Management practices on environmental performance. Green compensation through green innovation has the most incredible impact on environmental performance and was statistically significant at p< 0.01. Practical Implications- This finding provides valuable suggestions for policymakers, emerging and existing organizations, particularly manufacturing firms, to encourage environmentally-friendly activities and produce goods and processes through a successful incentive scheme, thus increasing customer loyalty.

Free Cash Flow and Investment Efficiency of Listed Manufacturing Companies in Nigeria

Purpose- This study aims to determine the relationship between free cash flow and investment efficiency of quoted manufacturing companies in Nigeria. Design- An accounting-based model developed by Richardson (2006) was employed to measure investment efficiency and free cash flow. The population of the study consist of all the listed manufacturing companies in Nigeria. Similarly, the purposive sampling technique was employed to arrive at forty-eight companies for 2008-2018. Findings- The results of the study confirm the agency theory of free cash flow. Hence, it established that there is a positive and robust relationship between free cash flow and overinvestment. Practical Implications- the findings of this study has practical implications to various group of users of financial information such as investors, policymakers and other stakeholders in the listed manufacturing sector in Nigeria. The study recommends that policymakers reduce the cost of debt, and likewise, managers should emphasize the facilitation of equity capital. Originality- To the best of the researcher's knowledge, this is the first study to examine the relationship between free cash flow and investment efficiency in Nigeria.

Psychological Contract Fulfillment and Attitude towards Organizational Change: A Mediation and Moderation Analysis of Affective Commitment and Empowering Leadership

Purpose: The underlying factors connecting psychological contract fulfillment (PCF) to attitude towards organizational change (ATOC) have not received much attention in organizational behavior literature. Hence, this study examined the mediating role of affective commitment (AC) and the moderating role of empowering leadership (EL) in the relationship between PCF and ATOC among employees in private organizations. Design/Methodology: This is a quantitative cross-sectional survey. Systematic sampling was utilized for collecting data from employees in private organizations in Delta State, Nigeria, via standardized self-report measures. The sample consisted of 224 employees with a mean age of 28.56 and a standard deviation of 6.41. Regression analysis (Model 1 and 4 of Hayes PROCESS Macro) was used for testing the hypotheses through IBM SPSS version 26. Findings: The results showed that PCF and AC were positive and significant predictors of ATOC. The results also revealed a significant mediating effect of AC and a moderating effect of EL in the relationship between PCF and ATOC. Practical Implications: Human resources management (HRM) in private organizations should promote practices that enhance employees' attachment to the organization. Also, top managerial staff should be encouraged to practice empowering leadership because it promotes positive workplace behaviors. Originality/Value: The present study enhances and brings new critical knowledge regarding the mediating role of AC and the moderating role of EL in the relationship between PCF and ATOC.

Mobile Banking Service Quality and Customer Retention: A Moderated Mediation Model of Customer Perceived Value and Perceived Corporate Image

Purpose- This study examined the moderating effect of perceived corporate image on the indirect relationship between mobile banking service quality and customer retention via customer perceived value in the Kenyan banking industry Design/Methodology- The study adopted an explanatory research design, employing multistage, simple random and systematic sampling techniques in collecting data from a sample size of 400 consumers of mobile banking services in Kenya using a self-administered questionnaire Findings- The results reveal a significant mediating effect of customer perceived value on the relationship between mobile banking service quality and customer retention. Moreover, the study established that perceived corporate image moderates the relationship between; mobile banking service quality and customer perceived value and mobile banking service quality and customer retention. Finally, perceived corporate image moderates the indirect link between mobile banking service quality and customer retention via customer retention at all levels Practical Implications- These findings underscore the need for the bank’s management and policymakers to develop quality assurance policies and devise value-centered strategies and image-enhancing strategies to enhance customer retention. Originality/Value - The study’s findings bring new critical knowledge concerning the indirect effect of customer perceived value and perceived corporate image on the study variables.

Leapfrogging in Marketing: Empirical Analysis of Kenyan Mobile Phone Industry

Purpose: This paper aims to analyze the concept of leapfrogging in the mobile phone industry in the Republic of Kenya. Design/Methodology: The study adopted a cross-sectional research design, stratified and simple random sampling techniques in collecting data from 349 respondents picked from a population of 15506 employees of three Cosmopolitan County Governments in Kenya. Findings: Outcome indicates that; perceived product quality and perceived switching cost positively and significantly influence intentions to Leapfrog. However, the urgency to replace does not influence choices to leapfrog. Originality/value: The study findings bring a new understanding of the determinants of consumer leapfrogging and their intentions to leapfrog in the mobile phone industry and highlight the role perceived product quality and switching cost play in determining intention leapfrog.

Segmenting Investors on their Biases Manifested in Investment Decision-Making by Individual Investors

Purpose- This study proposes to identify the certain biases affecting investor decision-making and to segment investors accordingly. Design/Methodology- A quantitative research method was applied to measure the existence and impact of the biases on investment decision-making. A survey was administered among the stock market investors in Uttar Pradesh. Factor analysis was used to extract those biases that significantly impact investment decision-making and their mean score to assess the level of agreement that affects their investment decisions. Findings - The finding reveals that eight extracted factors affect the investment decisions and accordingly segment them on the biases they exhibit. The investors tend to fall into Imitator, Stereotypical, Independent Individualist, Risk Intolerant, Efficient Planner, Confident, Passive, and Competent Confirmer. The Imitators, Independent Individualists, and Confident investors show their higher level of agreement that highly affects their equity investment decision-making. Practical Implication- This study provides a base to segment the investors on their biases. In addition, it will help in customizing the investment recommendation based on their biases to improve the investment decisions.