Heng (Emily) Wang and Xiaoyang Zhu
The dissemination of misleading and false information through media can jeopardize a company’s reputation, thus posing a threat to its stock and performance. Institutional…
Abstract
Purpose
The dissemination of misleading and false information through media can jeopardize a company’s reputation, thus posing a threat to its stock and performance. Institutional investors are known to influence capital markets. Therefore, this paper investigates whether institutional investors engage in shaping the media sentiment stock nexus, stabilize company stocks and enhance performance.
Design/methodology/approach
We first investigate the effect of media sentiment on market reactions by using panel regression models. To examine the role of institutional investors, we design a quasi-experiment by exploiting the Financial Crisis of 2008 and go further by examining the heterogeneity across levels of institutional ownership. Due to risk-averse, investors may respond asymmetrically to pessimistic and positive sentiment. Accordingly, we split the sample into two sub-types, good news and bad news, based on keywords representing positive or negative content.
Findings
We find supportive evidence that institutional investors have impacts on how the markets react to media news, and the impacts are heterogeneous in the face of bad and good news. We conjecture that institutional investors act as a stabilizer of stock prices through media sentiment management.
Originality/value
This paper confirms the distinctive effects of institutional investors on capital markets, and uncovers the behind-the-scenes intervention and possible causal link running from institutional investors to media sentiment management. It contributes to the broad field of institutional investors' behavior, media news involvement in capital markets and market efficiency.
Details
Keywords
Keith E. Niedermeier, Emily Wang and Xiaohan Zhang
The purpose of this study is to explore the role of social media usage among business-to-business sales professionals in China. Specifically, the authors seek to define and…
Abstract
Purpose
The purpose of this study is to explore the role of social media usage among business-to-business sales professionals in China. Specifically, the authors seek to define and explore the unique ways in which Chinese salespeople use social media, with a special emphasis on the role of guanxi. Guanxi is a complex cultural construct that revolves around the exchange of favors to build trust and connection for business purposes.
Design/methodology/approach
Three in-depth interviews of sales managers from two industries along with survey data from 42 pharmaceutical sales representatives were collected to gain an understanding of the general usage and attitudes toward social media in the sales process in China.
Findings
Results indicated that virtually all the salespeople in the sample were highly familiar with social media and integrated it into the sales process. Furthermore, all participants indicated that their companies were highly supportive of the use of social media with their customers. More importantly, salespeople in China view social media as a critical tool in building guanxi with their customers. Findings from this exploratory study are used to create a conceptual framework for understanding the important role of social media in building guanxi in China.
Research limitations/implications
While the sample is limited to three managerial interviews and 42 survey responses, the data indicated a near universal acceptance and use of social media among Chinese salespeople. Most importantly, social media appears to be the modern gateway to the ancient and culturally unique construct of guanxi that is absolutely indispensable to successful business-to-business sales performance in China.
Practical implications
The structural challenges within China make trust and emotional connection essential to any potential business relationship. Trust is at the core of guanxi. Any firm hoping to succeed in China must understand guanxi and the use of Chinese social media to help build it. This study adds to the knowledge and understanding of guanxi and begins to elucidate the uses of social media as a tool to build and maintain it.
Social implications
Social media appears to be the modern gateway to the ancient and culturally unique construct of guanxi that is absolutely indispensable to successful business-to-business sales performance in China. This study deepens our understanding of not only guanxi but also how the modern phenomenon of social media is affecting it.
Originality/value
This is one of very few studies to investigate the use of social media among salesforces in China. More importantly, the authors know of no other study linking social media with guanxi.
Details
Keywords
Perrie M. Weiner, Edward Totino and Robert D. Weber
Over the past few years, regulators, issuers, investors, and other market participants have expressed increasing concerns regarding the real or perceived effects of short selling…
Abstract
Over the past few years, regulators, issuers, investors, and other market participants have expressed increasing concerns regarding the real or perceived effects of short selling. For example, thinly‐capitalized issuers whose shares trade on the over‐the‐counter market often blame short sellers for declines in the prices of their stocks. Recently, these issuers’ ire has focused on so‐called “naked short sellers,” i.e. short sellers who do not locate or borrow shares before selling. Likewise, other market participants have expressed apprehension about conduct involving short sales that may be viewed as disruptive or manipulative. The Securities and Exchange Commission (SEC) and the self‐regulatory organizations (SROs) have addressed these concerns both by promulgating new regulations governing short sales and by pursing enforcement actions. This article summarizes the new short sales rules contained in Regulation SHO and the amendments to Regulation M, and discusses recent enforcement actions pertaining to short sales.
Details
Keywords
Jie Yang, Hongming Xie and Yuan Wang
This study investigates the possible curvilinear relationship between operational interdependency and supply chain performance as well as the contingency effect of supply chain…
Abstract
Purpose
This study investigates the possible curvilinear relationship between operational interdependency and supply chain performance as well as the contingency effect of supply chain disruptions, in terms of disruption orientation and disruption impact.
Design/methodology/approach
Path analysis was employed to test the hypotheses using the data collected from Chinese manufacturers.
Findings
The results confirm an inverted U-shape effect of operational interdependency. As level of buyer-supplier operational dependency increase, the supply chain performance is enhanced. However, the benefits of operational interdependency diminish beyond a certain point. Additionally, the findings of this study show the disruption orientations positively moderate the relationship between interdependency and performance, whereas the effect of disruption impact is not significant.
Originality/value
The findings of this study provide an explanation to the theoretical gap about the equivocal results of the effect of dependency, which provide new insights into the literature regarding buyer-supplier relationships. Furthermore, this paper identifies the moderating role of supply chain disruption in the relationship between operational interdependency and supply chain performance, which provide further explanation about the mixed results of the effect of dependency. The results confirmed that supply chain disruption orientation positively moderate the relationship between operational interdependency and supply chain performance.
Details
Keywords
Shi (Tracy) Xu, Yao-Chin Wang and Emily Ma
Different from the previous organizational citizenship behavior (OCB) literature, this study aims to propose an OCB-O (organizational citizenship behavior toward organizations…
Abstract
Purpose
Different from the previous organizational citizenship behavior (OCB) literature, this study aims to propose an OCB-O (organizational citizenship behavior toward organizations) and OCB-I (organizational citizenship behavior toward individual coworkers) driven mechanism for the formation of OCB-C (organizational citizenship behavior toward customers). Based on the social exchange and agency theories, the authors propose that perceived leadership support and work autonomy contribute to both OCB-I and OCB-O, which contributes to proactive and reactive customer service attitude as well as OCB-C.
Design/methodology/approach
A three-wave survey was conducted in five-star hotels in Mainland China, and a sample of 410 hotel frontline employees was used to test the model.
Findings
Findings of the study suggested that perceived leadership support positively led to OCB-O and OCB-I while work autonomy led to OCB-I, demonstrating the importance of employees’ perceived leadership support on motivating employees to perform OCB-I and OCB-O. OCB-I and OCB-O directly improved OCB-C, confirming the proposed spillover effect from OCB-I and OCB-O to OCB-C. OCB-I supported both proactive and reactive customer service attitudes, revealing OCB-I as more effective than OCB-O on influencing employees’ service attitudes. Furthermore, OCB-I, OCB-O and proactive customer service attitude lead to OCB-C.
Practical implications
This study suggests that it is important for leaders to show care and support to employees and design jobs with a certain level of flexibility, so that employees are motivated to go the extra mile to do a good job. When employees make helping others a habit, they will provide more genuine care to customers and do a better job in serving customers.
Originality/value
This study supports the spillover mechanism of OCB-I and OCB-O on OCB-C. Specifically, the spillover mechanism starts from a workplace-driven model with employees’ perceived leadership support and work autonomy to enhance OCB-O as well as OCB-I. Then, spillover effects stem directly from OCB-I and OCB-O to OCB-C and indirectly to proactive customer service attitude.
Details
Keywords
Emily Howell, Koti Hubbard, Sandra Linder, Stephanie Madison, Joseph Ryan and William C. Bridges
This study investigates the following research question: What pedagogical strategies are necessary for the success of HyFlex course design? The findings to this question are based…
Abstract
Purpose
This study investigates the following research question: What pedagogical strategies are necessary for the success of HyFlex course design? The findings to this question are based in new media literacies and help to further pedagogy in an emerging HyFlex model while also grounding in needed theorization.
Design/methodology/approach
This study uses design-based research (DBR) across two iterations and four doctoral, higher education courses, using mixed methods of data collection and analysis.
Findings
Six pedagogical strategies influential for HyFlex research are presented, each grounded in a new media literacy skill.
Originality/value
These six pedagogical strategies help practitioners grappling with the HyFlex or blended learning model merge traditional pedagogy with how this might be tailored for students entrenched in a participatory culture.
Details
Keywords
This study seeks to explore digital natives' mobile usage behaviors and, in turn, develop an analytic framework that helps articulate the underlying components of mobile addiction…
Abstract
Purpose
This study seeks to explore digital natives' mobile usage behaviors and, in turn, develop an analytic framework that helps articulate the underlying components of mobile addiction syndrome (MAS), its severity levels and mobile usage purposes.
Design/methodology/approach
The investigation adopts a survey method and a case study. The results of the former are based on 411 random classroom observations and 205 questionnaire responses, and the insights of the latter are derived from 24 interviews and daily observations.
Findings
The findings validate five distinctive signs that constitute MAS and their significant correlations with each of the Big Five personality traits. Classroom observations confirm the prevalence of addiction tendency among digital natives in the research context. Seven levels of MAS and six different mobile usage purposes further manifest themselves from case analysis. There appears to be a sharp contrast between the addicted and non-addicted groups in their mobile purposes and behavioral patterns. Additionally, family relationships seem influential in shaping non-addictive mobile usage behaviors.
Research limitations/implications
Psychological perspectives on MAS may be important but insufficient. Empirical investigation on a global scale, especially with distinctive cross-cultural comparisons, will be highly encouraged. How MAS evolves over time should also serve as future research interests.
Practical implications
Teaching pedagogy of college education might need certain adjustments to intrigue digital natives' learning interests. Future managers might also need to adopt better performance measurements for digital natives who barely separate work from personal matters in their mobile devices.
Social implications
Parents and healthcare institutions may need to develop response mechanism to tackle this global issue at home and in society. The long-term effects of the COVID-19 pandemic on MAS might also deserve global attention.
Originality/value
The analytic framework developed provides an original mechanism that can be valuable in identifying MAS severity and associated behavioral patterns.
Details
Keywords
Aijing Liu, Emily Ma, Yao-Chin Wang, Shi (Tracy) Xu and Tyran Grillo
The purpose of this study is to critically reflect on visually impaired customers’ technology assistance needs and the perceptions of existing technologies’ performance in the…
Abstract
Purpose
The purpose of this study is to critically reflect on visually impaired customers’ technology assistance needs and the perceptions of existing technologies’ performance in the contexts of hospitality and tourism.
Design/methodology/approach
Following a qualitative approach, this study used in-depth semistructured interviews with 19 participants with visual impairments.
Findings
Positive and negative sides of technology-assisted experiences in the hotel, restaurant, and travel domains were summarized, and room for improvement was discussed to enhance the quality of life and travel experience of visually impaired customers.
Practical implications
Findings from this study offer actionable implications and future directions to technicians and managers to make hospitality and travel experiences more inclusive.
Originality/value
This timely reflection addresses a critical situation by offering original ideas and calling for more discussion of under-represented groups with visual impairments.
Details
Keywords
Huijun Yang, Yao-Chin Wang, Hanqun Song and Emily Ma
Drawing on person–environment fit theory, this study aims to investigate how the relationships between service task types (i.e. utilitarian and hedonic service tasks) and…
Abstract
Purpose
Drawing on person–environment fit theory, this study aims to investigate how the relationships between service task types (i.e. utilitarian and hedonic service tasks) and perceived authenticity (i.e. service and brand authenticity) differ under different conditions of service providers (human employee vs service robot). This study further examines whether customers’ stereotypes toward service robots (competence vs warmth) moderate the relationship between service types and perceived authenticity.
Design/methodology/approach
Using a 2 × 2 between-subjects experimental design, Study 1 examines a casual restaurant, whereas Study 2 assesses a theme park restaurant. Analysis of covariance and PROCESS are used to analyze the data.
Findings
Both studies reveal that human service providers in hedonic services positively affect service and brand authenticity more than robotic employees. Additionally, the robot competence stereotype moderates the relationship between hedonic services, service and brand authenticity, whereas the robot warmth stereotype moderates the relationship between hedonic services and brand authenticity in Study 2.
Practical implications
Restaurant managers need to understand which functions and types of service outlets are best suited for service robots in different service contexts. Robot–environment fit should be considered when developers design and managers select robots for their restaurants.
Originality/value
This study blazes a new theoretical trail of service robot research to systematically propose customer experiences with different service types by drawing upon person–environment fit theory and examining the moderating role of customers’ stereotypes toward service robots.