Waqas Mehmood, Rasidah Mohd-Rashid, Abd Halim Ahmad and Atia Hussain
This study investigates the variables that impact initial public offerings (IPO) initial returns witnessed in Pakistan from 1996 to 2019 using pre-listing information variables…
Abstract
Purpose
This study investigates the variables that impact initial public offerings (IPO) initial returns witnessed in Pakistan from 1996 to 2019 using pre-listing information variables, namely country-level institutional quality, sponsor ownership and pricing mechanism. IPO oversubscription is included as a moderating variable.
Design/methodology/approach
This research is motivated by the premise that the Pakistani IPO market is characterised by a broad range of institutional and regulatory frameworks. Multiple regression studies, i.e. ordinary least square (OLS) and quantile least square (QLS), were performed on 102 IPOs issued on the Pakistan stock market.
Findings
The present study findings suggest that the quality of public service, the independence of civil service from political influences and the legitimacy of government increase investors’ confidence in the prospects of companies, hence increasing the demand for IPO and initial returns. In addition, good regulatory quality enhances market transparency and lowers uncertainty, hence signalling high-quality IPOs and leading in substantial initial returns. The negative effect of the lock-up ratio on the initial return of an IPO is consistent with the risk-return trade-off theory, which asserts that the lock-up ratio indicates the quality of the IPO.
Practical implications
The results provide market regulators, policymakers, investors and underwriters with useful data for assuring proper subscriptions of issued shares, as these variables are crucial for company transparency and market efficiency. The findings will also help investors make better IPO subscription decisions.
Originality/value
The present study explains the important influencing factors of IPO initial return in the Pakistani market.
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Jing Xiao, Ping Zeng and Lanlan Niu
Implementing a green strategy to enhance the competitiveness of enterprises is a hot topic in current research. Although most enterprises have formed a green strategy orientation…
Abstract
Purpose
Implementing a green strategy to enhance the competitiveness of enterprises is a hot topic in current research. Although most enterprises have formed a green strategy orientation (GSO), it has not been transformed into green competitiveness (GC). Prior studies have not thoroughly studied the effect and mechanism of GSO on GC. To fill this research gap, based on optimal distinctiveness theory, this paper discusses the mediating role of two kinds of green innovation (GI) in the GSO–GC relationship and the moderating role of big data capability (BDC).
Design/methodology/approach
This study adopts the quantitative research methods of multiple linear regression, Bootstrap and structural equation modeling (SEM). Data were collected through a questionnaire and a random sampling method was used to survey middle and senior managers and professionals in manufacturing enterprises. About 400 questionnaires were distributed, and 342 valid questionnaires were collected.
Findings
The conclusions show that GSO significantly positively affects GI and GC. Still, it turns out that only strategic green innovation (SGI) mediates the GSO–GC relationship. BDC can positively moderate the mediation effect of SGI between GSO and GC, thus supporting the moderated mediation model.
Research limitations/implications
This study used a survey questionnaire from Chinese manufacturing enterprises to collect data, but the sample size was limited. Furthermore, the mediating mechanism by which GSO affects GC requires further exploration. This study directly establishes the GSO–GC relationship based on the optimal distinctiveness theory, making an essential contribution to the literature on GSO and GC. At the same time, this paper uses GI as a bridge to connect the relationship between GSO and GC, enriching the literature on GI. In addition, we consider BDC to be a moderator, expanding the boundaries of the GSO–GC relationship.
Practical implications
This study provides new knowledge and insights for manufacturing enterprises to construct and implement green strategies to achieve GC. More importantly, managers should attach great importance to the critical role of SGI and BDC.
Originality/value
This study understands the importance of GSO, SGI and BDC to GC in theory and practice.
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Nguyen Tho, Nguyen Thi Mai Trang and Nguyen Ngoc Quynh Thu
Recognizing the crucial role of leadership in innovation, this study aims to investigate the role of ambidextrous leadership (opening and closing leadership behaviors) in…
Abstract
Purpose
Recognizing the crucial role of leadership in innovation, this study aims to investigate the role of ambidextrous leadership (opening and closing leadership behaviors) in marketing departments’ innovation ambidexterity (exploratory and exploitative innovations), including the mediating and moderating roles of marketing managers’ psychological capital (PsyCap) and proactive personality, respectively.
Design/methodology/approach
A two-wave survey of 198 marketing managers from firms in Vietnam was conducted. Partial least squares structural equation modeling was used in hypotheses testing (net effects), and necessary condition analysis was used to decipher the necessity level of the determinants of innovation ambidexterity.
Findings
Opening leadership behavior positively affects exploratory innovation while closing leadership behavior enhances exploitative innovation. The effect of opening leadership behavior on exploratory innovation is mediated and moderated by PsyCap and proactive personality, respectively; the opposite is found for the relationship between closing leadership behavior and exploitative innovation. Finally, PsyCap is a necessary condition for exploratory innovation, whereas PsyCap and closing leadership behavior are necessary conditions for exploitative innovation.
Practical implications
Firms should pay attention to the role of ambidexterity in leadership to enable marketing managers to direct their marketing departments to acquire new knowledge, skills and processes, and reinforce existing ones to foster innovation ambidexterity. They should also consider the necessary role of the factors that help achieve the desired level of target outcomes.
Originality/value
This study identifies two boundary conditions (PsyCap, a mediator; and proactive personality, a moderator) for the relationship between opening leadership behavior and exploratory innovation. To the best of the authors’ knowledge, this study is among the first to decipher the necessity level of the determinants of innovation ambidexterity.
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Ilse Maria Beuren, Silvana Mannes Meurer and Celliane Ferraz Pazetto
The article analyzes the effects of using management information and knowledge conversion by socialization in process innovation.
Abstract
Purpose
The article analyzes the effects of using management information and knowledge conversion by socialization in process innovation.
Design/methodology/approach
A survey was conducted with 133 managers of Brazilian firms that received tax subsidies to develop technological innovation. For data analysis, structural equation modeling was used.
Findings
Results show that the use of management information to score keeping and focusing organizational attention triggered higher levels of process innovation. In contrast, improving understanding and improving organizational learning did not show statistical significance, suggesting that these do not have the potential to influence directly process innovation. It was also found that managers’ skill to convert knowledge by socialization precedes process innovation. Furthermore, mediating effect of knowledge conversion by socialization between the use of management information and process innovation was statistically significant only in improving organizational learning.
Practical implications
The finding that the use of management information for score keeping, focusing organizational attention directly and improving organizational learning indirectly reflects in higher levels of innovation can be used as part of the strategy and support organization’s management in process innovation. Furthermore, the organization can emphasize on knowledge conversion by socialization, both explicit and tacit knowledge, to leverage process innovation.
Originality/value
The study addresses recent calls to understand the potential of managers’ skills to convert knowledge through socialization. Evidence shows that, by socializing knowledge, managers expand and disseminate the organization’s tacit knowledge, which can stimulate process innovation. It also adds to the debate about which uses of information managers should emphasize to promote process innovation.
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Nadia A. Abdelmegeed Abdelwahed, Safia Bano, Mohammed A. Al Doghan and Bahadur Ali Soomro
Currently, innovation performance (IP) and innovation quality (IQ) are essential intertwined constructs that help small- and medium-sized enterprises (SMEs) thrive in a…
Abstract
Purpose
Currently, innovation performance (IP) and innovation quality (IQ) are essential intertwined constructs that help small- and medium-sized enterprises (SMEs) thrive in a competitive business environment and achieve long-term success and sustainability. This paper aims to examine the effect of top management knowledge values (TMKVs), knowledge-oriented culture (KOC) and rewards on IP and IQ through knowledge sharing.
Design/methodology/approach
The authors used a deductive cross-sectional data approach and a standardized questionnaire adopted from the literature to obtain responses from the employees of Egyptian manufacturing SMEs. The authors based this study’s findings on 316 usable samples by applying the purposive sampling technique.
Findings
Using structural equation modeling (SEM) with path analysis using SmartPLS4, the findings of this study demonstrate that TMKV positively affects IP but not IQ. On the one hand, the KOC and knowledge-sharing process (KSP) are positive enablers of IP and IQ. On the other hand, knowledge-based reward (KBR) has an insignificant effect on IP and IQ. Moreover, while KSP mediates TMKV’s and KOC’s connections with IP and IQ, it does not mediate KBR’s relationship with IP and IQ.
Practical implications
This study’s findings will help policymakers and planners create strategies through knowledge management to improve employees’ vision, commitment and dedication, culminating in a favourable impact on IP and IQ. These findings highlight the need to foster a knowledge-based culture that promotes communication networks, establishes trust and enables individuals to make decisions to enhance organizational success, IP and IQ.
Originality/value
In the case of a developing country, this study helps to fill the gaps by offering an integrated framework that simultaneously explores knowledge management enablers, IP and IQ.
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Asma Javed, Qian Li and Abdul Basit
In the context of the environmental degradation challenge in manufacturing firms, greening the supply chain (SC) is the most widely endorsed method to mitigate the adverse…
Abstract
Purpose
In the context of the environmental degradation challenge in manufacturing firms, greening the supply chain (SC) is the most widely endorsed method to mitigate the adverse repercussions of climate change. Based on organizational learning and resource dependence theories, the aim of this research is to know how green supply chain external integration (GSCEI) and green supply chain internal integration (GSCII) influence ambidextrous green innovation (AGI). It also examines the mediating roles of green absorptive capacity (GAC) and green knowledge integration capability (GKIC), as well as the moderating role of green technology dynamism (GTD).
Design/methodology/approach
To assess the hypothesized model, data were obtained with 386 questionnaires from managers employed in manufacturing firms in Pakistan applying a cross-sectional approach. A partial least square structural equation modeling technique was implemented to evaluate the data.
Findings
The results revealed that GSCEI and GSCII substantially impact AGI. Moreover, GAC and GKIC serve as mediators between GSCEI and AGI. GAC and GKIC also intervene in the relationship between GSCII and AGI. GTD was significant as a moderator for the correlation between GSCEI and AGI. However, it does not moderate the relationship between GSCII and AGI.
Practical implications
This research offers significant comprehension and an innovative approach for manufacturing organizations to curb environmental corrosion by stimulating AGI through green SC integration. It suggests to practitioners that integrating internal knowledge with external partners expands communication and collaboration to ensure that resources connected with environmental preservation flow smoothly.
Originality/value
This research is a valuable addition to the field, as it explores for the first time the missing link among the studied constructs. It opened the black box of how knowledge-related capabilities facilitate knowledge resources to elicit AGI, an area that has not yet been explored.
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Considering the importance of green knowledge in firms' sustainability, this study investigates the mediating mechanism of green knowledge acquisition (GKA) and the moderating…
Abstract
Purpose
Considering the importance of green knowledge in firms' sustainability, this study investigates the mediating mechanism of green knowledge acquisition (GKA) and the moderating role of resource orchestration capability (ROC) in the relationship between green entrepreneurial orientation (GEO) and corporate sustainable performance (CSP).
Design/methodology/approach
Using a sample of 388 executives from 195 small and medium-sized enterprises (SMEs) in the UAE, this study used partial least squares structural equation modelling to examine the proposed relationships among the constructs.
Findings
The research shows that GEO affects CSP's environmental, economic, and social aspects of CSP. This study also highlights the mediating role of GKA in the relationship between GEO and CSP. The moderated mediation analysis results indicate that when ROC is elevated, GEO's indirect influence on environmental and economic performance through GKA is more pronounced.
Practical implications
This study provides useful insights and a novel approach for manufacturing industries and authoritative bodies to alleviate environmental deterioration and improve CSP by encouraging GKA through green entrepreneurship.
Originality/value
This study enriches the existing literature on GEO, GKA, and CSP by focusing on environmental challenges and applying the resource-based view (RBV) framework. The study's findings broaden the theoretical basis for green entrepreneurship, provide guidance on enhancing CSP in manufacturing firms, and advance green entrepreneurship research.
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Innocent Chigozie Osuizugbo, Olalekan Shamsideen Oshodi, Patricia Omega Kukoyi, Amos Okemukoko Lawani and Anthony Ogochukwu Onokwai
The current study seeks to investigate and determine the principal barriers to the adoption of work–life balance (WLB) practices amongst construction companies operating in the…
Abstract
Purpose
The current study seeks to investigate and determine the principal barriers to the adoption of work–life balance (WLB) practices amongst construction companies operating in the developing countries using Lagos, Nigeria as a case study.
Design/methodology/approach
This study adopts a survey research technique. Snowball sampling technique was adopted to identify the target respondents for the administration of questionnaire. A total of 156 questionnaires were distributed and a response rate of 66% (103 questionnaires were completely filled and returned) was attained. Data elicited were analysed using descriptive and inferential statistics.
Findings
The results from the exploratory factors analysis show that the principal barriers to the adoption of WLB practices amongst construction companies in Lagos, Nigeria are categorised into four components: nature of construction job and limited evidence on impact of WLB, support, awareness and culture, lack of involvement of management staff and organisational factors.
Originality/value
This study contributed to more effective WLB studies by highlighting the barriers to the adoption of WLB practices in the construction sector. An understanding of these barriers can aid policy makers and management personnel in construction organisations as well as facilitate development of strategies required to reduce the barriers to WLB practices in the construction sector.