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This paper aims to investigate the relationship between firm size and growth under the framework of Law of Proportionate Effect (LPE) for Asian firms.

An unbalanced panel data for about 12,001 unique non-financial listed and active firms from 1995 to 2016 for 12 industrial and emerging Asian economies was examined. Total assets and net sales were used as size variables. Firm-specific variables such as return on equity, leverage and liquidity ratio were used along with macroeconomic variables such as GDP growth and two financial development indicators. The fixed effects and random effects approach were used to estimate the dynamic growth model after taking into account econometric issues such as correlation between the cross-country-specific error component and the regressors and heteroscedasticity.

The estimated coefficient of firm size was found to be always significant and negative rejecting the Gibrat’s law for Asian firms confirming that the small-sized firms are growing faster than larger-sized firms. Also, the persistence of growth coefficient suggested that a positive persistence of firm growth does not exist for the selected Asian firms. Gibrat’s LPE was also rejected across small, medium- and large-sized companies. For the aggregate sample, the coefficient of leverage was found to be negative and significant, whereas liquidity ratio, GDP growth, banking sector and stock market variables are found to have positive and significant relationship with growth of firms. For individual economies, a mix of positive and negative (significant and insignificant) estimated coefficient was observed.

At macro-level, the examination of firm growth is likely to have significant policy implications for the regulators and various government agencies as firm growth may increase economic activity in general and employment opportunities in particular. The policymakers can control economic and employment activity by designing specific firm growth policies. At micro-level, the study will have significant implications for managerial decision-making.

To the best of the authors’ knowledge, this is one of the first studies to test the validity of Gibrat’s LPE for large Asian economies and firms using recent data under a dynamic growth framework using firm-specific and macroeconomic variables. Also, persistence of growth of firms under LPE (that growth does not persist from one period to the next) is uniquely examined for Asian firms.

The purpose of this paper is to examine the correlation between firm size, growth and profitability along with other firm-specific variables (like leverage, competition and asset tangibility), macroeconomic variable (like GDP growth-business cycle) and stock market development variable (like MCR).

Using the COMPUSTAT Global database this work uses panel dynamic fixed effects model for nearly 12,001 unique non-financial listed and active firms from 1995 to 2016 for 12 industrial and emerging Asia–Pacific economies. This interrelationship was also examined for small, medium and large size companies classified based on three alternate measures such as total assets, net sales and MCR of firms.

The persistence of profits coefficient was found to be positive and modest. There is evidence of a negative size-profitability and positive growth-profitability relationship suggesting that initially profitability increases with the growth of the firm but eventually, overtime, gains in profit rates reduce, as size increases indicting that large size breeds inefficiency. The relationship between firm's leverage ratio and its asset tangibility is found to be negative with profitability. The business cycle and stock market development variables suggest a positive relationship with the profitability of firms. However, the significance of estimated coefficients was mixed and varied among different selected Asia–Pacific economies.

The study has economic implications on issues such as industrial concentration, risk and optimum size of firms for practicing managers of modern enterprise in emerging markets.

The analysis of the relationship between the firm size, growth and profitability is uniquely determined under a dynamic panel fixed effects framework using firm-specific variables along with macroeconomic and financial development determinants of profitability. This relationship is estimated for a large and new data set of 12 industrial and emerging Asia–Pacific economies.

本研究擬探討公司的規模、成長和盈利能力之間的關係， 同時亦涵蓋公司特有的其它變量 （如愩杆作用， 競爭和資產的有形性）， 宏觀經濟變量 （如國內生產總值增長與景氣之循環）， 以及股市發展變量 (如MCR) 。

本研究以COMPUSTAT 全球資料庫、使用動態面板固定效應模型，涵蓋幾近12001間獨特的、非金融上市及活躍的公司、覆蓋期由1995年至2016年，涉及12個工業及新興的亞太經濟體。這相互關係分析研究亦於大、中及小型企業內進行，而這些企業就規模方面的分類是基於三個交替的測量而釐定的，如總資產、銷售淨額、以及企業的MCR。

研究發現、利潤係數的持續性是正且適中不強的。有證據顯示、規模的大小與盈利能力是負相關的，而增長與盈利能力則為正相關；這暗示盈利能力初時會因企業的成長而增強，但隨著時間的推移最终當規模增大、利潤率的增長會下降，這提示我們：大的規模會導致效率低下。企業的杠桿比率與其資產有形性的關聯被發現與盈利能力成負相關。經濟週期及股市發展變量暗示與企業的盈利能力之關聯為正相關。唯估計係數的意義會因被挑選之各個不同亞太經濟體而有異和不統一的。

本研究對在新興市場的現代企業內工作的業務經理有其實際作用，因研究為他們在業務問題如產業集中度、危機、公司的最佳規模等問題上提供了經濟方面的啟示。

本研究分析公司規模、成長與其盈利能力的關係時，獨特之處是採用了動態面板固定效應模型，並於應用盈利能力的宏觀經濟和金融發展的決定因素的同時，也使用了企業特有的變量。而這關係的分析研究涵蓋12個工業及新興的亞太經濟體的龐大且新的數據集。

The purpose of this paper is to investigate the nexus between corporate governance and dividend policy of listed Indian firms.

Using new corporate governance stipulations, five new indices were constructed, namely, overall board governance index, board structure index, audit committee index, compensation committee index and nomination committee index. Using the newly developed indices, disclosure index and different firm-specific control variables, different panel Logit and Tobit regression models were estimated for 482 non-financial and non-utility listed firms during 2006–2017. Also, before the econometric analysis, mean difference test was conducted to examine the differences in dividend behaviour and corporate governance practices during pre- and post-Companies Act, 2013 and between payers and non-payers.

The overall evidence suggests that the firms having stronger corporate governance tend to pay higher dividends suggesting that the firm’s propensity to pay dividends increases with the improvement in corporate governance standards. Among the corporate governance indices board structure, audit committee and disclosure norms show a significant and positive relationship, whereas compensation committee and nomination committee show a positive but insignificant relationship with dividend policy. Control variables mostly had the expected impact on the dividends of the firms.

This study suggests that the establishment of the strong and effective corporate governance system is desirable to mitigate the agency conflicts between managers and shareholders and limit managers’ opportunistic behaviour in dividend payout policy.

This study is one of the latest studies to use several newly constructed indices on corporate governance mechanism based on new stipulations which bring new evidence on their specific impact on the dividend policy for an emerging market economy like India.

This study aims to examine the influence of gameful experience (GAMEX) on customer brand engagement in the context of e-tailing. Drawing on the self-determination and social learning theories, the authors have developed a comprehensive model incorporating cognitive, emotional and behavioral factors leading to brand advocacy and re-visit intention for the retail website.

The data for this study were obtained from 715 customers across various e-tailing websites. This research uses both quantitative method (partial least squares structural equation modeling − PLS-SEM) and qualitative method (fuzzy set qualitative comparative analysis − fsQCA) to investigate the relationship between GAMEX and customer brand engagement in the e-tailing context, with a focus on the long-term outcomes of brand advocacy and re-visit intention.

The PLS-SEM results indicate a significant impact of GAMEX on customer brand engagement. In addition, the findings reveal the moderating role of fear of missing out, internet self-efficacy and technoeustress in the association among GAMEX, customer brand engagement, brand advocacy and re-visit intention. The findings from fsQCA support the results obtained from PLS-SEM and reveal four configurations for brand advocacy and five configurations for re-visit intentions.

This research evaluates the impact of GAMEX on customer brand engagement using a mixed-method approach involving qualitative and quantitative procedures. This study offers valuable insights into the design of gamified marketing activities and current practices for fostering greater engagement.

Extant literature shows that gamification is an effective tool for enhancing customer brand engagement. However, there is a need for a structured review of the literature on how and to what extent gamification fosters customer brand engagement. This hybrid literature review synthesizes extant research on gamification and its impact on customer brand engagement.

The study is based on 45 articles drawn from 33 journals from the Scopus database. This article conducts a systematic review of theory, context, characteristics and methods employed in extant research, identifies contemporary themes and presents future research avenues. It also conducts a bibliometric analysis to identify the most prominent journals, authors, articles and themes.

This review identifies various patterns and trends of psychological capital research, and it unfolds four major themes – gamification and customer engagement, gamification and e-marketing, gamification and sustainable marketing and gamification and customer experience.

This review offers key insights into managerial implications.

It is one of the first endeavors to conduct a structured review of research related to gamification and customer engagement. It presents a conceptual framework that shows the relationships between gamification and customer engagement. This systematic review offers several future research agendas to spur scholarly research and presents key insights into the process of gamification in marketing to enhance customer brand engagement.

Drawing on the self-congruity theory and customer engagement literature, this research accounts for the influence of the three dimensions of customer self-congruity on customer engagement with global brands by uncovering the mediating mechanism of brand psychological ownership and moderating mechanism of global connectedness. The research framework is tested across developed and developing country contexts to highlight any cultural differences in the drivers of customer engagement with global brands.

Data were collected from developed (USA; n = 270) and developing (India; n = 273) countries through two online surveys and tested, employing structural equation modeling, across the two markets to investigate cross-cultural variations.

Social self-congruity has the strongest influence on customer engagement for USA consumers, while all three forms of self-congruity are equally important in India. Psychological ownership consistently works as the mediating mechanism across both contexts. While global connectedness accentuates the relationship between self-congruity and brand psychological ownership for Indian consumers, it attenuates the relationship amongst USA consumers.

While prior literature mainly establishes a direct link between self-congruity and customer engagement, this study provides a deeper understanding of the self-congruity–customer engagement relationship by: a) investigating the mediating role of psychological ownership; b) examining the moderating role of global connectedness and c) studying all three forms of self-congruity (i.e. actual, ideal and social) simultaneously. The study, testing the framework in developing and developed country settings, highlights cultural nuances in forming customer engagement with global brands.