Pooja Singh and Anindita Chakraborty
This paper aims to examine the relationship between financial distress risk and stock returns in the Indian context.
Abstract
Purpose
This paper aims to examine the relationship between financial distress risk and stock returns in the Indian context.
Design/methodology/approach
This is an empirical study wherein the Altman-Z score is used to identify the distressed and the non-distressed firms listed on Nifty 500. The author uses the Fama–French five-factor model to study the relationship between stock returns and distress risk. The study analyses the differences in the factor loadings among the portfolios sorted by distress. It evaluates if incorporating distress risk factors in conventional pricing models enhances the goodness of fit.
Findings
The study reported a positive relationship between the distress risk factor and stock returns in the distressed portfolios, signifying that distress risk is a systematic risk only for distressed portfolios. Furthermore, after including the financial distress risk premium, the observed fluctuations in the small-minus-big (SMB), high-minus-low (HML), RMW and CMA coefficients indicate a common association with distress risk-related information.
Originality/value
This study tests the Fama–French five factors for distress risk and examines its nature in asset pricing for emerging markets like India. The study examined the performance of the augmented Fama–French five-factor model across different sets of portfolios sorted based on distress.
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Jiale Zhang, Farzana Quoquab and Jihad Mohammad
This study aims to present a comprehensive knowledge mapping and an in-depth analysis of plastic and sustainability research to understand better global trends and directions in…
Abstract
Purpose
This study aims to present a comprehensive knowledge mapping and an in-depth analysis of plastic and sustainability research to understand better global trends and directions in this field that emerged between 1995 and 2022.
Design/methodology/approach
This study presents a visual analysis of 1933 research articles listed in the Web of Science (WoS) databases between the years 1995 and 2022 related to plastic and sustainability. The knowledge mapping based on CiteSpace and VOSviewer presents the current research status, which contains the analysis of the collaboration network, co-citation network, references with citation bursts and keyword analysis.
Findings
The results reveal that China and the USA are the most prominent countries in exploring the notion of sustainability and plastic. The Chinese Academy of Science is the most prominent institution. Chai Qiang, Friedrich Daniel, Sahajwalla Veena and Ok Yong Sik are the most prolific authors in this field. Furthermore, circular economy, bioplastic, sustainable development, polyester and bioplastics are the highly discussed issues in recent years. Not surprisingly, COVID-19 is the latest topic of discussion started in 2021 due to its negative impact on plastic pollution and the challenges it posed to sustainability.
Originality/value
This study is among the pioneers to shed light on the current research status of plastic and sustainability using the bibliometric method and the newest data. This study also suggests that collaborations between scholars and institutions require to be enhanced for better management of plastic pollution and to contribute to sustainable development.
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Anderson Filipe Rosa, Otávio Bandeira de Lamônica Freire and Murilo Lima Araújo Costa
The purpose of this study is to compare measurement scales of sports fans’ motivations applied to women’s football.
Abstract
Purpose
The purpose of this study is to compare measurement scales of sports fans’ motivations applied to women’s football.
Design/methodology/approach
A survey research approach was used to collect 574 valid responses from participants in Brazil and the USA. Three prominent scales – Sport Interest Inventory (SII), Sport Fan Motivation Scale (SFMS) and Motivation Scale for Sport Consumption (MSSC) are were compared using the structural equation modeling technique.
Findings
The results indicate that the SII scale demonstrates superior predictive power for variables such as “purchase intention,” “electronic word of mouth,” “identification as a fan” and “interest in women’s football” compared to the SFMS and MSSC scales. The primary motivation among followers and spectators of women’s football in the study was “supporting women’s opportunities” in sport.
Research limitations/implications
While the study is grounded in the most relevant scales pertinent to the theme, the limited academic production on the subject hinders direct comparisons with prior research.
Practical implications
Leveraging the insights from the SII scale, football team managers can refine their marketing strategies by understanding the primary motivations driving women’s football consumption. This knowledge can inform targeted efforts to enhance women’s football consumption, subsequently expanding opportunities for women in the sport.
Social implications
This study provides valuable information that can inform initiatives aimed at boosting women’s soccer consumption, thereby contributing to increased opportunities for women in the sport.
Originality/value
To the best of the authors’ knowledge, this study represents the first attempt to compare scales in the specific context of women’s soccer, contributing with a unique perspective to the development of women’s sports.
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Inês A. Ferreira, J.P. Oliveira, Joachim Antonissen and Helena Carvalho
This paper aims to identify the impacts of wire and arc additive manufacturing (WAAM) technology on the green supply chain management (GSCM) performance. Also, it intends to…
Abstract
Purpose
This paper aims to identify the impacts of wire and arc additive manufacturing (WAAM) technology on the green supply chain management (GSCM) performance. Also, it intends to identify the most essential WAAM capabilities.
Design/methodology/approach
An exploratory case study related to a metallurgical company using WAAM technology to repair metallic components was developed. A research framework to identify WAAM production capabilities and the different GSCM performance criteria was proposed based on the current state of the art. Primary qualitative data provided evidence for developing seven propositions relating WAAM capabilities to GSCM performance.
Findings
The paper provides empirical evidence relating to how WAAM production capabilities impact the different performance criteria of the GSCM performance. The results show that “relative advantage” and “supply-side benefits” are critical capabilities developed through WAAM. Furthermore, most of the capabilities regarding “relative advantage” and “supply-side benefits” promote a higher GSCM performance.
Research limitations/implications
This research was carried out using a single case study research design and using qualitative data. Thus, future works are encouraged to test the propositions empirically using quantitative methodologies.
Practical implications
The case study findings support that most WAAM production capabilities promote a higher GSCM performance. Managers could use this research to understand the capabilities developed by this fusion-based additive manufacturing (AM), become aware of the implications of new technology adoption on the supply chain environmental externalities, and develop new business models based on the WAAM capabilities.
Originality/value
This research contributes to expanding the state-of-the art related to WAAM technology by evidencing the relationship between adopting this fusion-based AM technology and green supply chain practices. Also, it provides a set of seven propositions that could be used to theorise the impacts of WAAM adoption on the GSCM performance.
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Barbara Francioni, Ilaria Curina, Alice Aiudi and Elena Viganò
The purpose of this paper is to examine the global sourcing process of Italian craft microbreweries, particularly by identifying the main antecedents leading to the perception of…
Abstract
Purpose
The purpose of this paper is to examine the global sourcing process of Italian craft microbreweries, particularly by identifying the main antecedents leading to the perception of psychic distance. The study also examines how perceived psychic distance affects the selection of intermediaries and the intention to maintain these relationships, with a specific focus on how intermediaries bridge cultural and logistical gaps in international business.
Design/methodology/approach
The paper employs a qualitative research methodology and adopts a multiple case study approach, focusing on seven small breweries located in central Italy. The study applies thematic analysis to identify and examine key themes and sub-themes related to global sourcing processes, perceived psychic distance and the role of intermediaries. Additionally, the adoption of network theory provides deeper insights into the relationships between breweries, suppliers and intermediaries.
Findings
Results reveal that perceived psychic distance significantly affects global sourcing decisions, with cultural differences, regulatory barriers and communication challenges emerging as critical factors. Intermediaries play a crucial role in facilitating transactions, building trust and providing logistical support. The study highlights the importance of cultural competence, effective communication strategies and trust-building in mitigating the adverse effects of psychic distance.
Research limitations/implications
Limitations are primarily related to the geographical origin of the sample, which is limited to regions in central Italy. Despite this, the study provides valuable insights for craft breweries and other small businesses engaged in international trade. Moreover, it emphasizes the critical role of intermediaries in reducing perceived distance and effectively managing global supply chains.
Originality/value
The study explores a topic largely overlooked in the literature, particularly regarding the analysis of perceived psychic distance, its antecedents and its impact on intermediary selection within the craft beer sector. Additionally, the paper offers valuable guidelines for specific categories of stakeholders (i.e. local intermediaries, foreign suppliers and Italian firms producing raw materials) and provides actionable insights for practitioners, including strategies for supplier selection, quality control and effective communication.
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Mariasole Bannò, Emilia Filippi and Chiara Leggerini
The introduction of gender quota laws in many countries has garnered significant attention in the literature and in the political discourse. Proponents of this solution emphasise…
Abstract
Purpose
The introduction of gender quota laws in many countries has garnered significant attention in the literature and in the political discourse. Proponents of this solution emphasise its potential to bolster opportunities for women, foster their participation on boards of directors and improve corporate governance, market value and firm performance. Conversely, opponents express concerns regarding the possibility of appointing less-qualified women, thereby diminishing board effectiveness and potentially leading to negative consequences on firm market value and performance. This study aims to address this ongoing debate by examining the impact of gender quota laws on firm performance.
Design/methodology/approach
The impact of gender quota laws on firm performance, measured through ROE, ROA and ROI, is evaluated using a database of 27,977 Italian firms and adopting a two-stage traditional treatment effect model.
Findings
The econometric analysis reveals a negative impact of the gender quota law on firm performance.
Originality/value
This study contributes to the academic debate on the pros and cons of imposing gender quota laws by providing empirical evidence on their impact on firm performance.