Search results

The purpose of this paper is to analyze and evaluate the impacts of equity market timing on corporate capital structure policies in Indonesia by apply Baker and Wurgler’s analytical approach to firms in Indonesia to see, first, if that approach applies to Indonesian firms and, second, if it can be generalized to other emerging markets.

This study will focus on capital structure policies based on Market Timing Theory in developing countries, which uses the panel data of companies listed in Indonesian Stock Exchange after IPO. The companies used as research object are 70 firms in the non-financial/non-banking sector with the observation period of 2000–2015. The period of measurement is five years after IPO. Using a past market value in which equity market timing is measured in two-time measurements, i.e. yearly timing and long-term timing to prove its persistence.

Consistent with equity market timing theory, the results suggest that firms tend to issue equities when their market valuations are relatively higher than their book values and their past market values are high. As a consequence, the firms become underleveraged or have their debts reduced in the short run. The results of long-term measurement on equity market timing do not appear to affect the firms’ capital structure decisions due to the firms’ relatively quick adjustments of optimal capital structures. The conclusion is that equity market timing is an important element in the short run but not in the long run.

The results of this study describe how firms in Indonesia take advantage of temporary market share fluctuations through equity market timing in their capital structure policies before ultimately making adjustments to the directions they are targeting.

The use of equity market timing is more aimed at reducing the debt ratio and avoiding unfavorable conditions in the debt market, as well as taking advantage of the capital gains derived from the differences in their stock prices. This study also has practical implications on investment policies that need to consider the adaptation factor of the industrial environment when it comes to making capital structure decisions, including how the entity must take policy when uncertain economic conditions.

Through the research behavior of capital structure more in-depth decision is expected to provide an overview for investors widely in determining investment policy. Thus, the investment strategy is more planned and can also anticipate unexpected conditions.

This research is the first study to analyze and to evaluate the impacts of equity market timing on corporate capital structure policies on post-IPO firms in Indonesia. This research is an empirical study that investigates the relevance of equity market timing considerations in the determination of debt-equity choices in the capital structure, included in the conditions of the global financial crisis.

This paper aims to propose a model for increasing human capital competitiveness in the tourism sector in emerging economies. Using Indonesia as an example, the authors study the extent of the COVID-19 pandemic’s impact and the sector’s resilience.

Data was collected using a survey of 199 tourism workers in Magelang city in Central Java Island. The data was analyzed using structural equation model with Smart PLS.

The results confirm that social and human capital influence business success. Furthermore, innovation moderates the influence of human capital and social capital on business success.

By conducting a primary survey with the tourism workers and those who work and interact with the tourism industry in Indonesia, the authors show how a promising approach to creating and sharing agile knowledge can enhance the tourism industry micro, small and medium enterprises in emerging economies during and post-COVID-19 pandemic and after.

This study aims to explore the potential of integrating the metaverse into halal product marketing strategies, focusing on the development of ethical consumption. The metaverse, an ever-evolving, three-dimensional virtual environment, presents new prospects for fostering deep consumer engagement and personalized brand interactions.

The research method used is a mixed-method approach, revealing the qualitative aspects reinforced by quantitative analysis results.

The findings underscore that incorporating the metaverse into halal marketing holds significant promise in broadening market outreach and augmenting consumer awareness regarding halal products. The utilization of interactive virtual environments empowers consumers to immerse themselves in products, nurturing more potent emotional bonds with brands, and nurturing a deeper comprehension of the sustainability and ethics underpinning halal items.

The limitations of this study include susceptibility to external influences and ethical considerations.

In practical terms, the implementation of this research requires designing marketing campaigns equipped with metaverse components, including virtual experiences that highlight the halal production process and product journey from origin to end user. This can be realized through existing metaverse platforms or by building custom virtual settings that create unique and relevant encounters for halal consumers.

The uniqueness of this study lies in its comprehensive understanding of the potential integration of the metaverse in halal marketing − a relatively unexplored area. The study provides valuable insights for marketing practitioners and manufacturers of halal products, and guides them on how to leverage these technologies to advance ethical and sustainable consumption practices among halal consumers.

Effectively handling knowledge is crucial for any organization to survive and prosper in the turbulent environments of the modern era. Leadership is a central element for knowledge creation, acquisition, utilization and integration processes. Based on these considerations, this study aims to offer an overview of the evolution of the literature regarding the knowledge management-leadership relationship published over the past 20 years.

A bibliometric analysis coupled with a systematic literature review were performed over a data set of 488 peer-reviewed articles published from 1990 to 2018.

The authors discovered the existence of four well-polarized clusters with the following thematic focusses: human and relational aspects, systematic and performance aspects, contextual and contingent aspects and cultural and learning aspects. The authors then investigated each thematic cluster by reviewing the most relevant contributions within them.

Based on the bibliometric analysis and the systematic literature review, the authors developed an interpretative framework aimed at uncovering several promising and little explored research areas, thus suggesting an agenda for future knowledge management-leadership research. Some steps of the paper selection process may have been biased by the interpretation of the researcher. The authors addressed this concern by performing a multiple human subject reading process whose reliability was confirmed by a Krippendorf’s alpha coefficient value >0.80.

To the best knowledge, this is the first study to map, systematize and discuss the literature concerned to the topic of the knowledge management-leadership relationship.

This paper aims to examine the mediating role of knowledge sharing (KS) on the relationship between the transformational leadership (TL) and innovation in banks.

Quantitative analysis was conducted by using the structural equations modeling with AMOS 24 to examine the influence of the mediating role of KS on the TL–innovation relationship. Data were collected from 310 employees at 27 banks in Lebanon.

The research highlights that leaders exhibiting transformational behavior were able to promote knowledge-sharing culture that enhances the generation of new ideas, products and processes. The findings confirmed that KS mediates the association of TL and innovation.

The findings point to how TL mobilizes employees to engage in innovative products and processes by encouraging a knowledge-sharing culture.

The research findings advance the understanding of how TL stimulates innovation and highlights the benefits gained by cultivating KS to generate more innovative outcomes.

This study aims to create performance through innovation that is influenced by knowledge sharing and absorption in the Bali weaving industry.

This study was conducted using quantitative and qualitative designs. Questionnaires were distributed, whose results were measured using a five-point Likert scale. The research population included 1,132 employees of ikat weaving industry. Samples were selected using Slovin formula, resulting in the minimum samples of 175 employees. WarpPLS was used to analyze the influences of variables mentioned in the study hypotheses.

Knowledge gained from external resources is expected to complement the information available in the organization. Sharing knowledge will be more meaningful and effective in supporting innovation and the performance of diligent craftsmen. Although knowledge sharing does not significantly influence innovation improvement, knowledge sharing is still important to improve company performance through stakeholder understanding of the business in general and the business's detailed process. Leader creativity is an important dimension in obtaining and gathering various information from external resources because sharing knowledge has a significant influence on performance and innovation through absorption.

This study was conducted in Bali because it is in accordance with the objectives of this study. Research in Kelungkung Regency is considered to represent Bali because it has the highest number of ikat weaving craftsmen. Knowledge and learning new things must be maintained to increase employee knowledge, understanding of new knowledge from external sources and the performance of diligent craftsmen in Bali.