Aima Khan and Muhammad Azeem Qureshi
The purpose of this study is firm value management through corporate finance policy design and scenario analysis to maximize the firm value.
Abstract
Purpose
The purpose of this study is firm value management through corporate finance policy design and scenario analysis to maximize the firm value.
Design/methodology/approach
The study develops a system dynamics model for an oil firm and incorporates the financial and physical processes to perform the firm valuation. The model is simulated under the current and alternative investment, capital structure and dividend policies of the case firm, assuming different oil and gas price and tax rate scenarios to identify which combination of policies maximizes the firm value.
Findings
The simulation results suggest that lowering the volume of investments, increasing the debt ratio and reducing the dividend payments from the current level increases the share price, given increased oil and gas price expectations and lower tax rates. However, the total firm value outperforms with increased investments toward the end of the simulation period. In case of decreased oil and gas price expectations, lower volume of investments, lower debt ratio and lower dividend payments increase the share prices, given lower taxes.
Originality/value
This study entails significance as it provides a comprehensive financial planning model for an oil firm, which incorporates the complex interactions of key financial and physical processes of the firm. The study contributes to debates on corporate finance policies by integrating multiple theories, accounting for accumulation processes and feedback loops and their non-linear interactions. The study proposes the consideration of combined impact of policies for firm value management.
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Jamid Ul Islam, Shadma Shahid, Aaleya Rasool, Zillur Rahman, Imran Khan and Raouf Ahmad Rather
This paper aims to investigate how banking websites can activate customer engagement (CE) to consequently enhance customer trust and retention.
Abstract
Purpose
This paper aims to investigate how banking websites can activate customer engagement (CE) to consequently enhance customer trust and retention.
Design/methodology/approach
Using an online survey, data were collected from 598 customers of various (public and private) banks in India. Structural equation modeling was used to analyze the data.
Findings
Results reveal that the key website attributes viz. website interactivity, website aesthetics, customization, ease of use and telepresence positively affect CE. The results also delineate positive associations between CE, customer trust and customer retention.
Research limitations/implications
This paper unravels that by strategically focusing on the relational dynamics of CE, banks can build trust and retain their most valuable stakeholders – the customers, thereby addressing the crucial strategic concerns of banking firms.
Originality/value
This research is the first to explore the effects of key website attributes on CE in the banking context. The undertaking of this study in an emerging economy adds further insight into CE literature by generalizing the applicability of CE studies across geographic contexts.
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The purpose of this paper is to develop and validate a multi-dimensional scale to measure retail brand experience.
Abstract
Purpose
The purpose of this paper is to develop and validate a multi-dimensional scale to measure retail brand experience.
Design/methodology/approach
Literature review and open-ended survey have been carried out to generate an initial pool of items. Item reduction has been done using exploratory factor analysis and validation of measures performed through confirmatory factor analysis and structural equation modeling. A total of six separate studies have been conducted to develop and validate the retail brand experience scale.
Findings
A 22-item seven-dimensional retail brand experience scale is developed. The proposed scale has exhibited sound psychometric properties based on the findings from different reliability and validity tests, as well as from robust scale replications across several different samples. Findings support that retail brand experience has a significant impact on consumer intentions (word-of-mouth and pay more).
Practical implications
This research develops a set of retail brand experience measures that can provide retailers a way to examine the experiences evoked through retail brand-related stimuli.
Originality/value
This study is the first of its kind of its kind that develops and validates the measures of the retail brand experience.
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Sheetal Jain, Mohammed Naved Khan and Sita Mishra
Even though the Indian luxury market is predicted to grow as much as the Chinese one over the coming years, limited research has been conducted on luxury consumer behavior. The…
Abstract
Purpose
Even though the Indian luxury market is predicted to grow as much as the Chinese one over the coming years, limited research has been conducted on luxury consumer behavior. The purpose of this study is to examine the purchasing behavior for luxury fashion goods using the framework of the theory of planned behavior.
Design/methodology/approach
A total of 257 respondents were included after distributing a structured questionnaire by surveying real luxury consumers in Delhi. Data were analyzed using structural equation modeling.
Findings
The results of the study indicated that subjective norm was the most important determinant of the purchasing intentions for luxury fashion goods, followed by attitude. Perceived behavioral control was not found to have a significant relationship with purchasing intentions, but it showed a strong positive relationship with actual purchasing behavior.
Originality/value
This study provides new theoretical insights regarding luxury consumer behavior in India. It explains the motivating factors behind purchasing intentions for luxury goods among Indian consumers. The findings of the study will provide great help to global luxury companies in formulating their penetration and expansion strategies in the Indian market.
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Mobin Fatma, Imran Khan and Zillur Rahman
The purpose of this paper is to examine the influence of perceived CSR and its influence on customer satisfaction and loyalty in the hotel industry.
Abstract
Purpose
The purpose of this paper is to examine the influence of perceived CSR and its influence on customer satisfaction and loyalty in the hotel industry.
Design/methodology/approach
Personal surveys of hotel guests were carried out in three metropolitan cities of India. The survey resulted in 327 valid responses which were further analyzed. To test the proposed model, structural equation modeling was applied.
Findings
The findings show that consumer perception of CSR activities positively influences consumer identification with the company, and identification positively results in customer satisfaction and loyalty.
Research limitations/implications
Findings of the study have important implications for hospitality companies as they suggest that hotel managers should invest more in socially responsible initiatives since consumers tend to support those firms that are perceived as socially responsible by developing a sense of loyalty towards them.
Originality/value
This study provides a comprehensive framework that integrates social identity and social exchange perspectives towards building customer satisfaction and loyalty.
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Mobin Fatma, Imran Khan and Zillur Rahman
The aim of this study is to investigate the influence of two types of corporate associations – corporate ability (CA) and corporate social responsibility (CSR) – on consumer brand…
Abstract
Purpose
The aim of this study is to investigate the influence of two types of corporate associations – corporate ability (CA) and corporate social responsibility (CSR) – on consumer brand loyalty in retail banks in India.
Design/methodology/approach
A survey on 489 banking consumers was carried out. To achieve research objectives, test hypotheses and analyze data, structural equation modeling was used.
Findings
The findings show that CA and CSR associations were found to have positive and indirect influences on consumer brand loyalty through brand identifications. This indicates that the process of corporate association transforming into loyalty is much more complicated, and there are other factors influencing this process, making brand identification necessary for achieving customer brand loyalty.
Research limitations/implications
The results presented in this study have important managerial implications for banking companies in India. The findings demonstrate the importance of CA and CSR associations in the present business scenario and highlight the need to successfully implement them in management policies.
Originality/value
This study contributes to the existing body of literature by highlighting the influence of brand identification on brand loyalty through affective commitment and satisfaction.
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Although Generation Y consumers contribute significantly to the luxury market, still there is a limited amount of research conducted to explain their luxury consumption behavior…
Abstract
Purpose
Although Generation Y consumers contribute significantly to the luxury market, still there is a limited amount of research conducted to explain their luxury consumption behavior, particularly in context of emerging markets like India. The main objectives of this study are to understand the key factors that affect luxury purchase intentions of Generation Y consumers using the theory of planned behavior (TPB) and to examine the moderating effect of subjective norm on other TPB variables, namely, attitude and perceived behavioral control.
Design/methodology/approach
Purposive sampling method was used to collect data from Generation Y luxury fashion consumers in New Delhi, India. Confirmatory factor analysis and structural equation modeling was employed to analyze the data.
Findings
The findings of this study revealed subjective norm and perceived behavioral control were positively related to luxury purchase intentions. Further, subjective norm was found to moderate the relationship between attitude and luxury purchase intentions.
Originality/value
This study will help consumer behavior researchers and practitioners to understand the core reason behind luxury purchase intentions of Generation Y consumers in India. It will enable luxury brand companies to create suitable marketing strategies which align with the mindset of this new demographic segment.
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Ramya Singh, Archana Sharma, Nimit Gupta, Manish Mishra and Rohit Kushwaha
The rapid growth of the gig economy has reshaped the labor market and provided flexible work opportunities but also exposed gig workers to challenges such as job insecurity…
Abstract
Purpose
The rapid growth of the gig economy has reshaped the labor market and provided flexible work opportunities but also exposed gig workers to challenges such as job insecurity, anxiety and mental health concerns. For women gig workers, these challenges are often more pronounced due to the precarious nature of gig work and the lack of social protections.
Design/methodology/approach
A cross-sectional survey was conducted with 603 women gig workers across various sectors in India’s major metro cities. The survey used a combination of Likert scale and structured questionnaire to assess anxiety, mental health, job insecurity, workplace challenges and overall well-being, with reliability tests confirming internal consistency.
Findings
Descriptive statistics revealed moderate levels of anxiety, job insecurity and workplace challenges, with most respondents reporting relatively positive perceptions of well-being. Reliability analysis indicated satisfactory internal consistency across the survey constructs, with Cronbach’s alpha values ranging from 0.774 to 0.789. Hypothesis testing showed significant negative correlations between anxiety, job insecurity, workplace challenges and well-being, indicating that higher levels of these stressors are associated with lower well-being. The findings emphasize the need for targeted interventions and policy enhancements to improve the working conditions and support systems for women gig workers.
Research limitations/implications
The study highlights the need for tailored policies and interventions to address the unique challenges faced by women gig workers. Enhancing social protections, providing mental health support and ensuring safer working conditions could help improve their overall well-being.
Originality/value
This study adds to the limited literature on women gig workers in India by examining the specific factors influencing their well-being. It offers new insights into the intersection of gender and gig work, emphasizing the need for policy frameworks that better support this vulnerable workforce.
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Jnaneswar K. and Gayathri Ranjit
Encouraging employees to exhibit innovative behaviour at the workplace is the need of the hour. Prior studies reported the impact of organisational justice on innovative…
Abstract
Purpose
Encouraging employees to exhibit innovative behaviour at the workplace is the need of the hour. Prior studies reported the impact of organisational justice on innovative behaviour; however, the majority of these studies are from the Western context. Moreover, the underlying mechanism linking these variables, namely, the role of knowledge sharing, is sparse. The purpose of this paper is to examine the mediating role of knowledge sharing in the relationship between organisational justice and innovative behaviour through the lens of social exchange theory in the Indian context.
Design/methodology/approach
Mediation analysis using PROCESS macro was performed on a sample of 288 employees using three structured questionnaires. Participants were recruited from various manufacturing organisations in India. The validity of the hypothesised model was established using AMOS software.
Findings
Organisational justice impacted both knowledge sharing and innovative behaviour. It was also illustrated that knowledge sharing influenced employees’ innovative behaviour. The most important finding is the partial mediation of knowledge sharing in the organizational justice–innovative behaviour relationship.
Originality/value
This study tries to demystify the organisational justice–innovative behaviour relationship by highlighting knowledge sharing as an underlying mechanism. The existing theoretical framework that describes the effects of organisational justice is enriched.