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1 – 10 of 129Sivakumar Menon, Pitabas Mohanty, Uday Damodaran and Divya Aggarwal
Many studies have shown that from a theoretical and empirical point of view, downside risk-based measures of risk are better than the traditional ones. Despite academic appeal and…
Abstract
Purpose
Many studies have shown that from a theoretical and empirical point of view, downside risk-based measures of risk are better than the traditional ones. Despite academic appeal and practical implications, downside risk has not been thoroughly examined in markets outside developed country markets. Using downside beta as a measure of downside risk, this study examines the relationship between downside beta and stock returns in Indian equity market, an emerging market with unique investor, asset and market characteristics.
Design/methodology/approach
This is an empirical study done by using ranked portfolio return analysis and regression analysis methodologies.
Findings
The study results show that downside risk, as measured by downside beta, is distinctly priced in the Indian equity market. There is a direct positive relationship between downside beta and contemporaneous realized returns, indicating a premium for downside risk. Downside risk carries a higher weightage than upside potential in the aggregate return of the stock portfolios. Downside beta is a better measure of systematic risk than conventional market beta and downside coskewness.
Practical implications
The empirical results support the adoption of downside beta in practice and provide a case for replacing traditional beta with downside beta in asset pricing applications, trading and investment strategies, and capital allocation decision-making.
Originality/value
This is one of the first in-depth studies examining downside beta in Indian equity markets using a broad sample of individual stock returns covering a wide time range of 22 years. To the best of our knowledge, this study is the first one to compare downside beta and downside coskewness using individual stock data from the Indian equity market.
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Sandra Maria Correia Loureiro, Ricardo Godinho Bilro and Arnold Japutra
This paper aims to explore the relationships between website quality – through consumer-generated media stimuli-, emotions and consumer-brand engagement in online environments.
Abstract
Purpose
This paper aims to explore the relationships between website quality – through consumer-generated media stimuli-, emotions and consumer-brand engagement in online environments.
Design/methodology/approach
Two independent studies are conducted to examine these relationships. Study 1, based on a sample of 366 respondents, uses a structural equation modelling approach to test the research hypotheses. Study 2, based on 1,454 online consumer reviews, uses text-mining technique to examine further the relationship between emotions and consumer-brand engagement.
Findings
The findings show that all the consumer-generated media stimuli are positively related to the dimensions of emotions. However, only pleasure and arousal are positively related to the three variables of consumer-brand engagement. The findings also show cognitive processing as the strongest dimension of consumer-brand engagement providing positive sentiments towards brands.
Practical implications
The findings provide marketers with an understanding of how valid, useful and relevant content (i.e. information/content) creates a greater emotional connection and drive consumer-brand engagement. Marketers should be aware that consumer-generated media stimuli influence consumers’ emotions and their reaction.
Originality/value
This study is one of the firsts to adapt and apply the S-O-R framework in explaining online consumer-brand engagement. This study also adds to the brand engagement literature as the first study that combines PLS-SEM approach with text-mining analysis to provide a better understanding of these relationships.
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Amron, Usman and Ali Mursid
The purpose of this study is to examine the effect of satisfaction (SAT) and trust (TRS) on word of mouth (WOM) and buying decision (BD) for Sharia life insurance in the Muslim…
Abstract
Purpose
The purpose of this study is to examine the effect of satisfaction (SAT) and trust (TRS) on word of mouth (WOM) and buying decision (BD) for Sharia life insurance in the Muslim society of Indonesia.
Design/methodology/approach
The research design was taken from 386 Muslim customers who held Sharia life insurance policies using the approach of purposive sampling in four cities in Indonesia, namely, Jakarta, Surabaya, Makassar and Medan. The hypothesis testing used structural equation modeling.
Findings
The research results show SAT and TRS have effects on WOM. Moreover, WOM has a significant effect on the BD of the customers of the Sharia life insurance product.
Research limitations/implications
This study focused only BD of customers who bought Sharia life insurance products, so the results cannot be generalized to other types of Sharia insurance. Therefore, future research could consider other Sharia insurance products, such as Sharia general insurance.
Practical implications
In relation to the testing of SAT and TRS on WOM, this study examined the influence of the two variables on WOM and BD. This study can serve as reference for Sharia life insurance companies when formulating promotion strategy.
Originality/value
This study justified the strong association between SAT and TRS for WOM and BD in Sharia life insurance in an integrated way.
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Rajesh Mavuri and R. Sivakumar
The swirl intensity imposed on the flow plays a vital role in aerodynamics, flame shape, flame stabilization and combustion intensity. In lean direct injection (LDI), the air and…
Abstract
Purpose
The swirl intensity imposed on the flow plays a vital role in aerodynamics, flame shape, flame stabilization and combustion intensity. In lean direct injection (LDI), the air and fuel are fed through separate channels, and the swirling air flows have a strong impact on fuel-air mixing and heat release. The literature indicates that the effects of swirling on helical axial LDI systems are limited to nonreacting flows studied through experimental methods, but not many studies have been reported on the reacting flows of a single swirler. The objectives of the paper are divided into two parts. The first part presents the role of swirl in nonreacting LDI systems and the second part describes spray combustion in LDI systems for low (swirl < 0.5) to high (swirl > 0.5) swirl numbers.
Design/methodology/approach
The numerical model incorporates all the necessary features of the single helical axial swirler, starting from the hollow circular section to the outlet of a long mixing chamber. The commercial solver FLUENT is used to predict the flow field around the axial swirler. The first step is to establish a numerical procedure (based on computational fluid dynamics [CFD]) to predict the nonreacting flow behavior for different swirlers and the CFD results are validated against literature data. The spray atomization, droplet evaporation and the effects of interaction between the two phases are modeled by implementing various spray submodels in FLUENT. The large Eddy simulation (LES) reacting flow results for a vane tip angle of 60° are compared with test data and presented at multiple cross planes.
Findings
The numerical simulations were carried out on a nonreacting single helical axial swirler for various vane tip angles, such as 40°, 50°, 55, and 60°, and the results were validated against test data. The centerline mean axial velocity and radial velocity profiles at several axial locations are in good agreement with the literature data. For reacting swirling flows, the experimental data is available only for a 60° vane tip angle. The S60 reacting flow LES mean predictions are compared at different cross planes. The axial momentum increases due to the liquid spray combustion in the gas phase and the reacting flow central recirculation zone is substantially shorter than the nonreacting flow. The impact of spray atomization due to interaction with the gas phase is verified, and the droplet mean diameter trends are consistent across different cross planes. The LES predictions of reacting flows for low to high swirls are investigated, and the effects on combustion performance are summarized.
Originality/value
The novelty of the paper is highlighted in two key conclusions. First, the paper presents numerical methods for studying the role of swirl in a nonreacting LDI system and validates the results against experimental data. Second, the effects of combustion on the gas phase, spray combustion modeling and droplet atomization are numerically established and compared with literature data for a 60° vane tip angle. In addition, the role of swirl in the reacting flow field for vane tip angles of 40°, 50° and 60° is numerically investigated, and its effect on flame stability, pressure drop and NOx emissions is presented. The paper describes LES grid guidelines for the LDI swirler and presents a numerical modeling approach that helps to develop a robust swirler design through a parametric investigation of swirler geometry. The methodology can be extended to study multi-element swirler configurations, to understand the effect of swirl on droplet breakup, momentum exchange with adjacent swirlers, flame propagationand emissions.
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Charul Agrawal and Taranjeet Duggal
The study aims to study the extent of research done in luxury marketing in an emerging economy like India by conducting a bibliometric analysis. A period of 21 years has been…
Abstract
The study aims to study the extent of research done in luxury marketing in an emerging economy like India by conducting a bibliometric analysis. A period of 21 years has been considered to present a comprehensive picture for results and analysis. Key findings indicate the gaps and scope of further research for academics in India and abroad. The findings indicate a dearth of research by scholars and academicians in luxury, counterfeit and masstige, especially when there is a surge of the upper middle class in India. More specifically, Indian-grown luxury brands also present a massive scope for future research.
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Hannele Kauppinen-Räisänen and Christian Grönroos
The purpose of the paper is to explore how service marketing knowledge is applied in practice. It introduces some ideas about how to bridge the gap between scholarly knowledge and…
Abstract
Purpose
The purpose of the paper is to explore how service marketing knowledge is applied in practice. It introduces some ideas about how to bridge the gap between scholarly knowledge and business practices, and thereby opens up the conversation between service marketing scholars and management practitioners.
Design/methodology/approach
This qualitative study focusses on four concepts of service marketing (service quality, servicescape, internal marketing and augmented service offering). Knowledge use is studied according to the degree service marketing knowledge is applied at symbolic, conceptual and instrumental levels. Four firms are involved.
Findings
Service marketing knowledge was acknowledged within the firms. However, the application of the knowledge in practice was limited, resulting in shortcomings and negative consequences in terms of marketing outcomes. Hence, the knowledge was used mainly symbolically and conceptually, and the instrumental use of the knowledge was limited.
Research limitations/implications
By comparing the current use of knowledge to the levels of knowledge, the findings contribute to the understanding of why shortcomings of knowledge use develop and the study introduces ideas about how to bridge the gap between service marketing knowledge and business practices. Using this approach, the study contributes to the debate on knowledge “translation,” transfer, exchange and sharing between scholars and practitioners.
Practical implications
The study shows how management practitioners could understand and analyze their own practices as they develop their services and customer-oriented practices. It offers insights for scholars who seek to share scholarly knowledge for practical use.
Originality/value
The study contributes to the discussion on the use of scholarly knowledge by focussing on knowledge related to service marketing. Moreover, it focusses on not only the use of service marketing knowledge but also how it is used. By applying the three usage levels, the study recommends systematic means to detect gaps and shortcomings in knowledge use.
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Salahuddin Ahmed, Sapna Singh and Nagaraj Samala
Online brand is becoming a popular and major gateway for consumers for booking various services specifically when they travel for several purposes. The present study aims to…
Abstract
Purpose
Online brand is becoming a popular and major gateway for consumers for booking various services specifically when they travel for several purposes. The present study aims to explore whether exposure to two separate yet similar modes of communication intervene consumer's brand trust and their subsequent loyalty intention toward the brand. The study further aims to investigate whether consumer's price consciousness has any influence on association between brand trust and brand loyalty in the process of decision -making.
Design/methodology/approach
The present study follows a different approach to data collection. The data have been retrieved from online brand (Oyo) page on Facebook through Google Form application. In all, 289 useable responses were retrieved from the travelers aged between 18 and 30. Structural equation modeling using SPSS 25.0 and Amos 26.0 has been applied to examine the effects of brand communication and online reviews on brand loyalty through brand trust.
Findings
Empirical evidence supports that even after having strong brand communication, online reviews play a crucial role in consumer's brand loyalty through brand trust. The study further reveals that price consciousness acts as a significant moderator in the relationship between consumer's brand trust and brand loyalty.
Practical implications
The current research contributes to the online brand and marketing knowledge by empirically showing the pertinence of consumer–brand relationship in an online brand context through a parsimonious model by examining how the two distinct mechanisms of communication influences consumer brand trust and loyalty intention.
Originality/value
The parsimonious framework of consumer–brand relationship adds to explicating the dual marketing challenges of communication and to draw a positive consumer response (i.e. consumer brand loyalty). The study attempts to examine the impact of two distinct yet identical modes of communication which facilitate shaping consumer brand trust that reinforce the strategic value of the circumstance and equips it with solid theoretical structure within an endeavor of the strategic significance of online brand managers.
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Jan Breitsohl, Marwan Khammash and Gareth Griffiths
The purpose of this paper is to investigate public online consumer complaint responses from three different perspectives: the complainer, the company and third party consumers…
Abstract
Purpose
The purpose of this paper is to investigate public online consumer complaint responses from three different perspectives: the complainer, the company and third party consumers. Consumer complaint behaviour and management has been studied in various streams of literature, yet the subsequent processes triggered by a company complaint response have not been studied so far. In particular, this paper seeks to divert from examining complaint participants in isolation by recognising interrelated communication effects of complaint dialogue and public media.
Design/methodology/approach
Looking at credibility perceptions as a theoretical construct for measuring the utility of a complaint as well as attitude‐orientation as an evaluative moderator, the paper highlights the ambiguity of meaning transfer in an online complaint forum.
Findings
It is hypothesised that credibility and congruence in attitude orientation positively enhance complaint utility perceptions and strongly bias complaint dialogue evaluations.
Originality/value
The paper highlights that expected relevant results for online complaint managers and marketers alike are the inclusion of post‐complaint communication into corporate image and relationship management as well as using credibility perceptions as a benchmark for online customer satisfaction and potential positive electronic word‐of‐mouth.
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Shantanu Prasad, Ishwar C. Gupta and Navindra K. Totala
The purpose of this paper is to propose the theory which gives valuable insight into the context of social media, electronic word of mouth (EWOM), trust and purchase-decision…
Abstract
Purpose
The purpose of this paper is to propose the theory which gives valuable insight into the context of social media, electronic word of mouth (EWOM), trust and purchase-decision involvement.
Design/methodology/approach
A review of the existing literature was carried out and construct-wise measurement items were adapted from existing scales. Experts reviewed the items and validated. Convergent validity, discriminant validity and reliability of the scales were tested with the data collected from 252 respondents. Structural equation modeling was used to examine the proposed model.
Findings
Social media usage and EWOM have positive impact on purchase-decision involvement and online trust plays a vital mediating role in this context.
Originality/value
The implications of findings of this research are relevant for managers and public policy makers. People can be sensitized against any menace or can be made aware about any good things in the society in true sense so that they become proactive, participate and take decision (or purchase decision).
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