This study aims to examine the effect of symbolic and functional congruity on pilgrims’ intention to buy ethnic food which leads toward behavior in the religious tourism context…
Abstract
Purpose
This study aims to examine the effect of symbolic and functional congruity on pilgrims’ intention to buy ethnic food which leads toward behavior in the religious tourism context. Moreover, the moderating effect of social media celebrities’ intimate disclosures (SMCs-ISD) on the association between intention and behavior is also tested.
Design/methodology/approach
A survey was conducted to collect data, and 443 participants provided valid responses. Partial least squares-structural equation modeling was used to test the proposed hypotheses.
Findings
The findings demonstrate that actual and ideal self-image significantly influence the symbolic congruence whereas quality, health and price are significantly associated with functional congruence. In addition, symbolic and functional congruence is significantly related to pilgrims’ intention to use ethnic food which in turn influences their behavior. Moreover, the moderating effect of SMCs-ISD is also found significant.
Originality/value
Grounded in self-congruity theory, this study explores the impact of functional and symbolic congruity on pilgrims’ intentions to buy ethnic food in religious tourism. It addresses the intention-behavior gap by examining the moderating effect of SMCs-ISD through the lens of parasocial relationship theory. This dual theoretical approach offers new insights into how self-congruity and social media influence shape consumer behavior in this unique context.
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Ahmad S. Ajina, Saqib Ali, Ahmad M.A. Zamil, Nadeem Khalid and Mohammed Ali Bait Ali Sulaiman
This study aims to provide insights into the drivers of student engagement in food waste reduction strategies in educational institutions. The proposed research model integrates…
Abstract
Purpose
This study aims to provide insights into the drivers of student engagement in food waste reduction strategies in educational institutions. The proposed research model integrates social media celebrities' attractiveness, expertise and trustworthiness with the value belief norm (VBN) theory to explore their influence on students' behaviour towards food waste reduction.
Design/methodology/approach
The data were collected from 417 students enrolled in public and private universities in the Riyadh and Macca regions of Saudi Arabia to evaluate the proposed model. The partial least squares-structural equation modelling (PLS-SEM) was employed to analyse the responses.
Findings
The results showed that VBN theory's components, such as values (biospheric, altruistic and egoistic), beliefs (new ecological paradigm, awareness of consequences and aspirations of responsibility) and norms significantly and positively influence food waste reduction behavioural intentions. It was also discovered from the results that social media celebrities' attractiveness, expertise and trustworthiness influence food waste reduction behavioural intentions.
Originality/value
This study contributes significantly to the literature by identifying factors influencing student engagement in food waste reduction strategies in educational institutions where limited research exists. It fills this research gap by developing a novel theoretical framework integrating social media celebrities' attributes with the VBN theory to explain these factors.
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Ali Raza, Raouf Ahmad Rather, Muhammad Khalid Iqbal and Umair Saeed Bhutta
This paper aims to address the need for a more in-depth empirical investigation of exploring the link between the adoption of corporate social responsibility (CSR) practices and…
Abstract
Purpose
This paper aims to address the need for a more in-depth empirical investigation of exploring the link between the adoption of corporate social responsibility (CSR) practices and different aspects of customer behavior in a developing country. This paper develops a research framework and assesses the mediating role of trust, customer-company identification (CCI) and electronic-service quality (E-SQ) between customer perceptions of CSR and customer loyalty.
Design/methodology/approach
Working with a sample of 280 banking customers in Pakistan, partial least square based structural equation modeling is used to test the conceptual model.
Findings
Surprisingly, results suggest that CSR is not directly related to customer loyalty, which is contradictory to previously established findings conducted in developed countries. Thus, confirming a full mediation of CCI, E-SQ and trust in enhancing the effect of CSR on customer loyalty. The study also confirms that CSR is positively related to E-SQ, and E-SQ also directly affects CCI.
Practical implications
Banks should adhere to honest CSR practices and effectively communicate and advertise these practices to increase awareness and knowledge among the customers. Similarly, banks should advance in technological expertise to generate customer identification, which then leads to their loyalty.
Originality/value
Previous studies conferred short-term customer’s reactions, such as purchase intention and brand image. Still, this research discusses the long-term effect of CSR on customer behavior, such as the loyalty of the customers. Moreover, this is the pioneer study that investigates how CSR actions influence customer perceptions about E-SQ and how electronic services affect customer identification with a bank.
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Xiang Ying Mei, Caroline Ventzel and Ida Zachariassen
This study aims to understand how Gen Z consumers perceive fashion brands’ corporate social responsibility (CSR) communication through emotional appeals on Instagram and how such…
Abstract
Purpose
This study aims to understand how Gen Z consumers perceive fashion brands’ corporate social responsibility (CSR) communication through emotional appeals on Instagram and how such perception affects their overall behaviour towards the brand.
Design/methodology/approach
The study adopts a qualitative research approach through photo-elicitation and 14 semi-structured in-depth interviews with members of Gen Z, using one of the world’s largest fast fashion brands, H&M, as the study context.
Findings
It is increasingly difficult to capture the attention of Gen Z as they have become immune to the typical CSR messages despite attempting to appeal to their emotions. This makes CSR communication alone challenging in influencing brand perception. However, behaviour towards the brand, such as purchase intention, is not necessarily dependent on whether consumers are convinced of the brand’s CSR activities, as greater value is placed on fast fashion’s price and availability. For Gen Z, such elements surpass their concern for sustainable fashion. Since more emphasis is placed on neutral endorsers due to their trustworthiness, CSR efforts may be disseminated through such third parties to achieve desired outcomes.
Practical implications
Understanding consumers’ perceptions of the current CSR effort allows brand managers to reevaluate their CSR communication strategies to appeal to Gen Z and encourage positive brand behaviour.
Originality/value
Contrary to previous studies, which have focused on organisational outcomes, the study has in-depth explored consumers’ perception of CSR efforts on Instagram and the implications of such perceptions for long-term brand building.
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Purpose: Green consumerism is on the rise in the 21st century, impelling businesses to prioritise environmental awareness and expand eco-products to keep up with the growing…
Abstract
Purpose: Green consumerism is on the rise in the 21st century, impelling businesses to prioritise environmental awareness and expand eco-products to keep up with the growing demand. This research examines how social media (SM) and moral obligations (MO) affect consumer views and their propensity to make eco-friendly choices.
Methodology: Data were gathered from 508 participants using an adaptive questionnaire. The proposed model was tested using ‘structural equation modelling’.
Findings: The results show that electronic word-of-mouth (EWOM) and the intent to acquire green goods favourably impact consumer behaviour. MO positively influences attitudes and intentions to make green purchases (GPI), with attitudes acting as a mediator between MO and GPI.
Implications: This research is of utmost importance for marketers wanting to enhance their SM communication strategies to influence consumers’ opinions of green products and raise the possibility that they would make environmentally conscious purchases.
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Aparna Bhatia and Amanjot Kaur
The purpose of this paper is to investigate whether information asymmetry mediates the relationship between disclosure and cost of equity.
Abstract
Purpose
The purpose of this paper is to investigate whether information asymmetry mediates the relationship between disclosure and cost of equity.
Design/methodology/approach
The study is based on a sample of 500 companies listed in Bombay Stock Exchange for a period of six years from 2015 to 2021. Panel data regression is applied to analyze the relationship between voluntary disclosure, cost of equity and information asymmetry. Mediation effect of information asymmetry is tested with the help of Barron and Kenny’s (1986) approach.
Findings
Findings suggest that in case of Indian companies, disclosure reduces cost of equity directly and indirectly through mediation of information asymmetry. Indian investors value credible information for better estimation of future returns, supporting the validity of estimation risk and stock market liquidity hypothesis, which proposes an inverse relationship between disclosure and cost of equity.
Research limitations/implications
Managers can use the findings to strategize their disclosure policy and secure funds at lower cost. Shareholders can monitor managerial actions by demanding credible disclosures. Government too can encourage voluntary disclosure by providing special incentives to the firms.
Originality/value
This study is a pioneering research that investigates the mediating influence of information asymmetry between disclosure and cost of equity with reference to the Indian corporate landscape.
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This study examines the impact of board composition and ownership structure variables on dividend payout policy in Saudi Arabian firms. In particular, it aims to determine the…
Abstract
Purpose
This study examines the impact of board composition and ownership structure variables on dividend payout policy in Saudi Arabian firms. In particular, it aims to determine the effect of board size, independence and meeting frequency, in addition to chief executive officer (CEO) duality, and state, institutional, managerial, family, and foreign ownership on both the propensity to pay dividends and dividend per share for Saudi-listed firms over the period 2016–2019.
Design/methodology/approach
The paper captures dividend policy with two measures, propensity to pay dividends and dividend per share, and employs a range of regression methods (logistic, probit, ordinary least squares (OLS) and random effects regressions) along with a two-stage least squares (2SLS) model for robustness to account for heteroscedasticity, serial correlation and endogeneity issues. The data set is a large panel of 280 Saudi-listed firms over the period 2016 to 2019.
Findings
The results underline the importance of board composition and the ownership structure in explaining variations in dividend policy across Saudi firms. More specifically, there is a positive relationship between the propensity to pay dividends and board-meeting frequency, institutional ownership, firm profitability and firm age, while the degree of board independence, firm size and leverage exhibit a negative relation. Further, dividend per share is positively related to board meeting frequency, institutional ownership, foreign ownership, firm profitability and age, while it is negatively related to CEO duality, managerial ownership, and firm leverage. There is no evidence that family ownership exerts an impact on dividend payout policy in Saudi firms. The findings of this study support agency, signalling, substitute and outcome theories of dividend policy.
Research limitations/implications
This study offers an important insight into the board characteristic and ownership structure drivers of dividend policy in the context of an emerging market. Moreover, the study has important implications for firms, managers, investors, policymakers, and regulators in Saudi Arabia.
Originality/value
This paper contributes to the existing literature by providing evidence on four board and five ownership characteristic drivers of dividend policy in Saudi Arabia as an emerging stock market, thereby improving on less comprehensive previous studies. The study recommends that investors consider board composition and ownership structure characteristics of firms as key drivers of dividend policy when making stock investment decisions to inform them about the propensity of investee firms to pay dividends and maintain a given dividend policy.
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Fahad P. and Showkat Ahmad Busru
This study aims to investigate the effect of corporate social responsibility (CSR) disclosure on firm performance, considering both firm profitability and firm value in an…
Abstract
Purpose
This study aims to investigate the effect of corporate social responsibility (CSR) disclosure on firm performance, considering both firm profitability and firm value in an emerging market, India.
Design/methodology/approach
The study examines the effect of CSR disclosure on firm performance using panel regressions for the final sample that consists of 386 companies listed in the BSE 500 index, India. It covers all major players in the capital market for ten years from 2007–2016.
Findings
The result shows a trend toward the negative effect of CSR disclosure on firm profitability and firm value in India; this negative effect is mainly influenced by environmental disclosure score and social disclosure score. An adverse effect of firm profitability and firm value on CSR disclosure is also observed to underline the inverse relationship.
Practical implications
The study provides implications to consumers, investors, managers and policymakers. Firstly, consumers have to be more aware of CSR initiatives of companies, and they should support those companies to do more. Secondly, investors can use the ESG disclosure score as a signal for the level of CSR activities, which negatively affects firm performance. Thirdly, managers have to consider CSR more seriously and spend CSR amount wisely after proper research and not just to meet the mandatory limit. In addition, managers have to take necessary actions to make the public aware of the CSR activities of the company to gain an advantage in the future. Finally, policymakers have to give more emphasis on the promotion of CSR activities to reach the ultimate consumers who lie in the remote areas of the country, and more awareness has to be given to them regarding CSR activities.
Originality/value
The findings contribute to the literature by providing insights on CSR disclosure and firm performance relationship in India, an emerging market with increasing international attention where such studies are scant and less clear, especially after the amendments in the Companies Act, 2013. Furthermore, the measurement of CSR disclosure using environmental, social and governance (ESG) score is novel in the Indian context.
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Amal Mohammed Al-Masawa, Rasidah Mohd-Rashid, Hamdan Amer Al-Jaifi and Shaker Dahan Al-Duais
This study aims to investigate the link between audit committee characteristics and the liquidity of initial public offerings (IPOs) in Malaysia, which is an emerging economy in…
Abstract
Purpose
This study aims to investigate the link between audit committee characteristics and the liquidity of initial public offerings (IPOs) in Malaysia, which is an emerging economy in Southeast Asia. Another purpose of this study is to examine the moderating effect of the revised Malaysian code of corporate governance (MCCG) on the link between audit committee characteristics and IPO liquidity.
Design/methodology/approach
The final sample consists of 304 Malaysian IPOs listed in 2002–2017. This study uses ordinary least squares regression method to analyse the data. To confirm this study’s findings, a hierarchical or four-stage regression analysis is used to compare the t-values of the main and moderate regression models.
Findings
The findings show that audit committee characteristics (size and director independence) have a positive and significant relationship with IPO liquidity. Also, the revised MCCG positively moderates the relationship between audit committee characteristics and IPO liquidity.
Research limitations/implications
This study’s findings indicate that companies with higher audit committee independence have a more effective monitoring mechanism that mitigates information asymmetry, thus reducing adverse selection issues during share trading.
Practical implications
Policymakers could use the results of this study in developing policies for IPO liquidity improvements. Additionally, the findings are useful for traders and investors in their investment decision-making. For companies, the findings highlight the crucial role of the audit committee as part of the control system that monitors corporate governance.
Originality/value
To the authors’ knowledge, this work is a pioneering study in the context of a developing country, specifically Malaysia that investigates the impact of audit committee characteristics on IPO liquidity. Previously, the link between corporate governance and IPO liquidity had not been investigated in Malaysia. This study also contributes to the IPO literature by providing empirical evidence regarding the moderating effect of the revised MCCG on the relationship between audit committee characteristics and IPO liquidity.
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Mohamud Said Yusuf, Khadar Ahmed Dirie, Md. Mahmudul Alam and Isyaku Salisu
The purpose of this study is to investigate the link between corporate social responsibility (CSR) and the amount of trust customers have in Somali Islamic banks. Furthermore, the…
Abstract
Purpose
The purpose of this study is to investigate the link between corporate social responsibility (CSR) and the amount of trust customers have in Somali Islamic banks. Furthermore, the role of gender in CSR activities and Islamic bank clientele is evaluated.
Design/methodology/approach
Throughout February and March 2022, 410 clients of Islamic banks in Somalia were surveyed using a questionnaire. The partial least squares approach and the structural equation model are applied to examine the data.
Findings
Findings indicate that all variables of CSR activities, such as social product, social legal, social needs, social environment and social employees’ responsibility, are influential and significant predictors of trust in Islamic banks in Somalia. Gender inequalities moderate the relationship between social product, social needs, social environment, social employee and trust. Conversely, only social legal responsibility was unaffected by gender differences in Somalia regarding people’s trust in Islamic banks.
Practical implications
A sample from a developing country such as Somalia is useful for shedding light on the outcomes of consumers’ perceptions of and trust in businesses’ CSR in the developing world. Furthermore, this study contributes to knowledge regarding CSR and how it can help the Islamic banking industry. Its findings will be useful to policymakers and regulatory bodies in the banking industry in their efforts to improve CSR.
Originality/value
To the best of the authors’ knowledge, this study is the first empirical investigation of its kind about the understudied relationship among customer trust, CSR efforts and gender in Somalia context. Furthermore, it investigates how gender specifically moderates CSR in the Islamic banking sector in a developing country.