Search results

Earlier studies used conventional time-series models to forecast the impact of the Covid-19 pandemic on stock market performance. This study aims to provide a more flexible model that offers more robust estimation features, such as incorporating additional information (prior) about the model parameters, capturing the evolving behavior of the parameters over time and being able to include several covariates using a spike and slab prior, within the context of the Covid-19 shock and its effect on stock market performance.

Empirically, this paper compares autoregressive integrated moving average (ARIMA) models and the proposed Bayesian structural time-series (BSTS) models regarding their forecasting accuracy for airline and petroleum stocks in the five countries most affected by the Coronavirus, namely, Brazil, France, India, Russia and the USA. In addition, the authors estimate the difference between the pre- and post-intervention periods of the observed series of stock prices and a simulated time-series that would have occurred without the extreme event of Covid-19, using intervention analysis under the best-performing models.

The forecasting results, based on the trend, seasonality and regression components, demonstrate that BSTS models respond faster to the diverse needs of time-series analysis in unprecedented and crisis conditions compared to ARIMA models. Therefore, the authors use intervention analysis under BSTS models to examine the impact of Covid-19 intervention on stock market performance. The authors find that the Covid-19 shock had an adverse effect on the stock markets of the selected countries. The impact was more pronounced in the Brazilian market, where the average weekly prices of airline and petroleum stocks plummeted by 76% and 29%, respectively.

To the best of the authors’ knowledge, no prior study has carried out intervention analysis under BSTS models to forecast the impact of Covid-19 intervention on stock market returns. This study attempts to fill this methodological gap in the literature.

This study aims to shed new light on the effect of gift packaging shape, specifically the distinction between horizontal and vertical orientations, on the face consciousness of both gift givers and recipients. The underlying mechanism of the main effect is examined, focusing on the perception of social status symbols. In addition, downstream outcome variables were included in the study to explore the effects of gift package shape on willingness to buy (WTB) and word-of-mouth (WOM) in the giver and receiver contexts, respectively. Furthermore, these effects were repeatedly verified in both China and the USA, revealing the significance of cultural differences. The study also investigated the moderating effects of an individual’s power state (low or high power) on the giver’s face consciousness.

Six studies were conducted to address the research objectives. Study 1 compared the gift givers’ face consciousness of a gift when presented with vertical package shapes versus horizontal. Subsequently, Study 2 investigated whether consumers’ perception of social status symbols mediates the effect of gift package shape on gift givers’ face consciousness. Study 3a expanded the conceptual model to include the downstream outcome variable of WTB in the context of gift-giving. Study 3b was validated with American participants, revealing the influence of cultural background differences on face consciousness. Study 4 introduced a gift-receiving context to investigate the chain-mediated effects of gift package shapes on consumer WOM. Lastly, Study 5 critically examined the boundary effect of personal power states on the interaction between the gift givers’ face consciousness and WTB.

The results indicate that gift givers and recipients attribute higher face consciousness to gifts with vertical package shapes compared to horizontal ones. In addition, consumers’ perception of gifts as status symbols was the underlying mechanism driving the impact of gift packaging shape on face consciousness. Furthermore, the face consciousness for gift packages of vertical shape was enhanced when people were in lower-power states as opposed to higher-power states, subsequently leading to an increase in the WTB.

The research is limited to an online virtual brand study; future field studies could be conducted to enhance the authenticity of the participants’ gift-giving experience and the overall external validity of the studies. In addition, gender-based stereotypes and the relationship between the giver and the receiver (transactional or intimate) may also influence the relationship between gift package shapes and face consciousness.

The practical implications of this research focus on three points. First, gift brand managers should strategically employ vertical package shapes to signal high-end attributes and evoke face consciousness among consumers, aligning with the psychology of both givers and recipients. Second, managers must consider consumers’ power states in gift-giving scenarios, tailoring packaging recommendations to the dynamics between givers and recipients to maximize market share. Last, cultural differences in face consciousness, particularly between Asian and Western cultures, necessitate that managers adapt packaging designs to respect and enhance the social status of both givers and recipients in culturally sensitive ways. These findings underscore the importance of understanding and integrating consumer psychology, power dynamics, and cultural nuances into gift packaging strategies to boost market share.

The research contributes to understanding the impact of gift packaging shape on the perception of face consciousness among both gift givers and recipients. It highlights the mediating role of social status symbols and extends its scope by examining downstream effects such as WTB and WOM. It explores individual power states as a moderating factor, revealing how personal dynamics influence perceptions of face-saving consciousness. Also, the cross-cultural validation of these effects in China and the USA underscores the importance of considering cultural differences.

This paper aims to investigate how competition intensity and global institutional diversity influence the decisions of multinational enterprises (MNEs) to invest in dynamic green capabilities (DGCs) for green transformation. It aims to understand why some MNEs systematically embrace green transformation through DGCs while others resist, focusing on the role of these two factors.

This study takes a conceptual approach, conducting a critical analysis of existing literature to explore the effect of competition intensity and global institutional diversity on MNEs’ investments in DGCs.

The paper proposes that competition intensity and global institutional diversity magnify the economic benefits of deploying DGCs. MNEs that navigate decision-making challenges – such as myopia, heightened perceived risks and loss aversion – are better positioned to invest in DGCs.

The novelty of this paper lies in its comprehensive approach. While prior research has explored aspects of DGCs, stakeholder pressures and MNE green transformation, the influence of global stakeholders on MNEs’ investments in DGCs remains underexplored. Previous studies have either examined DGCs in isolation or focused on stakeholder roles in environmental strategies without linking them to DGCs and MNEs. This study addresses this gap by investigating how global stakeholders drive MNEs’ decision-making on DGC investments, emphasizing two key factors: competition intensity and global institutional diversity.

This study aims to investigate the circumstances where the positive influences of leader’s self-confidence are weakened in situations of conflict management (CM) arising due to innovation implementation. Specifically, this study tests the moderating influence of financial slack, internal opposition posturing and performance feedback on the relationship between self-confidence and conflict management styles (CMS). The findings are not complete.

This experimental study was conducted in two stages: In Stage 1, the authors studied moderating effects of financial slack (sound/unsound) and internal opposition posture (encouraging/ discouraging) on the relationship between leader’s self-confidence and CMS, namely, dominating, integrating and avoiding. In Stage 2, the authors studied the moderating effect of performance feedback (success/failure) on the relationship between leader’s self-confidence and three CMS. Data were collected from 268 senior-level Indian managers in Stage 1, out of which 235 managers also responded in Stage 2. These participants assumed the positions of chief executive officers (CEOs) within major Indian manufacturer specializing in electrical components, enabling us to empirically test the proposed model. Furthermore, a qualitative analysis of 10 semistructured interviews with Indian CEOs were conducted to enrich the discussion of the results.

Leader’s self-confidence determined the three CMS with highly self-confident leaders displaying irrational behavior in persisting with innovation through dominating style. Internal opposition posture and performance feedback exerted main effects on dominating style.

This study supports behavioral decision theory of firm and escalation of commitment theory.

This study underscores the need for personality and self-awareness training amongst senior managers to mitigate irrational behavior due to excessive self-confidence and enhanced effective CM.

This study identifies a crucial boundary condition where high self-confidence in innovation implementation may lead to irrational behavior and ineffective CM.

Businesses are increasingly engaged in actions to support peace in conflict- and violence-affected communities. Yet there is limited knowledge about why business leaders engage in peace or how citizens perceive the importance, efficacy and impacts of business contributions to address conflict and violence. These gaps are particularly acute for small business scholarship. This paper aims to address these.

This paper considers how small and medium enterprises (SMEs) view their peace-positive actions and how these are perceived by communities. This paper examines this by using two original primary surveys conducted concurrently in May 2021 in Bogotá and Medellín, Colombia. Question themes included: SMEs operating environments, relationships and networks, experiences of violence, SMEs community contributions and citizen perceptions of businesses as peacebuilding agents.

The results show that small business leaders who supported their communities with peace-positive actions saw their businesses perform better and held positive views of the benefits of engagement. Further, citizen perceptions of businesses contributions to peace declined where insecurity increased and improved where businesses – and in particular MSMSEs – engaged more in their communities.

This paper discusses certain limitations related to the use of a mobile-phone based sampling methodology enumerated during an ongoing pandemic.

This paper presents an original contribution that examines both SME and citizen perceptions of businesses peace-positive actions. The findings inform notions of SME leadership in fragile contexts, as well as the role of the private sector in conflict spaces more generally. They also suggest a greater focus on understanding the broader perceptions of businesses actions toward peacebuilding within society.

The purpose of the study was to assess whether and how communication medium (i.e. face-to-face vs text-based instant messaging) moderates the processes through which two contrastive, discrete emotions (i.e. anger and compassion) influence dispute resolution tactics and relational outcomes.

A total of 254 participants formed same-sex negotiation dyads to resolve a dispute between roommates either face-to-face (FtF) or through computer-mediated communication (CMC) in two experimental conditions (high vs low responsibility) designed to induce anger and compassion. Multi-group structural equation modeling procedures were used to assess four actor–partner mediation models that predict both intrapersonal and interpersonal effects of anger and compassion on relational outcomes through dispute resolution versus facework tactics.

Results showed that anger had a significant indirect effect on relational outcomes through competitive (i.e. power-based and face-threatening) tactics in FtF negotiations but not CMC, whereas compassion had a significant indirect effect on relational outcomes through both competitive and cooperative (i.e. power-based, interest-based, face-threatening and face-enhancing) tactics in CMC but not FtF negotiations.

The study extends existing scholarship on emotion in negotiations by demonstrating the moderating effects of communication medium and sheds insights on why communication technology should be considered for resolving emotion-laden disputes.

This paper aims to investigate how municipalities contribute to the ecosystem for social entrepreneurs, focusing on the four largest municipalities in the Netherlands, also known as the G4 municipalities (Amsterdam, Rotterdam, Utrecht and The Hague). Building on the ecosystem model of Spigel (2017), the findings focus on the cultural, social and material contributions of the municipalities to the ecosystem and how these contributions are perceived by the founders of social enterprises.

Focusing only on G4 municipalities, 39 semi structured interviews were carried, 15 of which were conducted with civil servants from G4 municipalities and the rest with social enterprises operating in G4 municipalities.

The results indicate that the G4 municipalities mainly contribute by helping build a positive image of social entrepreneurship and by facilitating the network of social entrepreneurs. However, municipalities often fail to substantiate their commitment by way of material resources such as financial inducements, resource provision or policies.

In the analysis, Spigel’s ecosystem model is adopted and by adopting this lens, the authors believe that the contribution of this exploratory study lies in analysing the relation of municipalities with social enterprises in a more comprehensive way. A consideration of the cultural, social and material aspects of municipality support, along with the discrepancies between these kinds of support, allows a critical analysis of the role municipalities play in social entrepreneurship in the Netherlands.

This paper aims to develop a conceptual framework that jointly considers Environmental, Social and Governance (ESG) factors and organisational resilience (OR) components to ameliorate organisations' understanding of sustainability’s overall requirements and related decision-making processes.

This paper combines ESG and OR through a 3x3 conceptual matrix, where ESG factors are listed along the vertical axis and OR components along the horizontal axis. This results in nine quadrants, which have been read according to two arrangements: (1) static, looking at the specific characteristics of each single quadrant, and (2) dynamic, investigating the relationships between the different quadrants according to the system theory (ST) lens.

The integration between ESG and OR results in nine organisational typologies, each characterised by a specific focus: (1) green visioning, (2) eco ethos, (3) climate guard, (4) inclusive strategy, (5) empathy ethos, (6) community shield, (7) ethical blueprint, (8) integrity ethos and (9) compliance guard. These typologies and related focuses determine the different strategic options of organisations, the decision-making emphasis concerning ESG factors and OR components and the organisation’s behaviour concerning its internal and external environment. According to ST, the nine typologies interact with each other, emphasising the existence of interconnectedness, interdependence and cascading effects between ESG and OR.

The paper represents a unique attempt to interrelate ESG factors and OR components according to a ST lens, emphasising the dynamic nature of their interactions and organisations’ need for continuous adaptation and learning to make decisions that create sustainable long-term value.