Puspita Ghaniy Anggraini, Evy Rahman Utami and Eva Wulandari
This study aims to evaluate papers that discuss the stock market during the COVID-19 pandemic to discover lessons that may be beneficial for coping with similar situations in the…
Abstract
Purpose
This study aims to evaluate papers that discuss the stock market during the COVID-19 pandemic to discover lessons that may be beneficial for coping with similar situations in the future.
Design/methodology/approach
This study used the review procedures following Hoque (2014) with modifications, including co-words analysis to map themes. The articles to be reviewed were identified by entering the search keywords “capital market” AND “Covid” and “stock market” AND “Covid” in the Scopus database. After applying a set of criteria, 89 articles were used in the subsequent analysis. The country setting and study findings are recognized, and the lessons learned are further determined.
Findings
As COVID-19 has been designated a global pandemic by the WHO, and its impact is seen in many countries, the setting adopted by many researchers includes two or more countries (i.e., “International”). Six clusters of themes are identified, namely, market responses, spillover/contagion, investor sentiment, investor herding, policy and asset intensity. In this way, the lessons gained cover several stock market elements, including the market, industry, investors, government and companies.
Originality/value
Given the importance of understanding the COVID-19 pandemic and the relevance of the stock market in indicating its severity, to the best of the authors’ knowledge, there has been no literature review research on the stock market during COVID-19. Furthermore, this study also defines what lessons can be drawn.
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Eka Pariyanti, Wiwiek Rabiatul Adawiyah and Siti Zulaikha Wulandari
The main objective of this study is to assess kinship employee engagement as a mediating variable in the relationship between person–organization–fit (P-O Fit) and person–job–fit…
Abstract
Purpose
The main objective of this study is to assess kinship employee engagement as a mediating variable in the relationship between person–organization–fit (P-O Fit) and person–job–fit with turnover intention.
Design/methodology/approach
This research was conducted at creative industry micro, small and medium enterprises (MSME) in Yogyakarta, Indonesia. The number of respondents was 331 MSME employees. The distribution of questionnaires was carried out using offline and online systems through direct questions and Google forms. The data analysis tool used was structural equation modelling.
Findings
The findings of this study revealed that kinship employee engagement is proven to mediate the relationship between P-O-fit and P-J-fit on turnover intention.
Research limitations/implications
This research provides a new perspective on social exchanges, namely, exchanges that are intangible based on the relationship between employees, leaders and owners of micro and small medium enterprises (MSMEs) in the form of kinship employee engagement. Employees who feel P-O Fit and P-J fit with their organizations will exhibit positive behavior in the form of kinship employee engagement.
Practical implications
The first practical implication is that MSME superiors/owners must pay more attention to P-O fit; one way to do this is to assess P-O fit at the recruitment and selection stage. This may be useful for organizations that hire and retain employees whose goals and values closely match those of the organization. With regard to the P-J fit relationship, and turnover intention, which turns out to have a negative relationship, this finding has implications for the formulation of policies that should not only focus on increasing the knowledge, skills and abilities of employees but also on fulfilling their wishes. For example, providing employees with training, self-development opportunities, flexible working hours and competitive salaries will strengthen their level of compatibility with their jobs, which in turn will reduce the willingness of employees to leave their jobs.
Social implications
In social practice, kinship employee engagement can be applied to MSMEs. When MSME owners have limited funds, facilities, etc., to bind employees, they can apply kinship to employees so that they are more attached to MSMEs.
Originality/value
This study is among the first to introduce a new construct (kinship employee engagement) which is an extension of the engagement construct that is more specific and follows the MSME context, and is the first study to propose kinship employee engagement as a mediating variable in the relationship between P-O-fit and P-J-fit on turnover intention.
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This paper aims to examine the influence of good governance on corporate value, in which the stock returns and financial performance act as the mediator of the relationship among…
Abstract
Purpose
This paper aims to examine the influence of good governance on corporate value, in which the stock returns and financial performance act as the mediator of the relationship among them.
Design/methodology/approach
This research was conducted on companies go public listed on the Indonesia Stock Exchange and was included in 2011 to 2017 LQ45 index list, with samples taking a purposive sampling approach through four criteria. Data analysis using WarpPLS with indicator approaches are formative (mutually exclusive between indicators).
Findings
The findings are as follows: good corporate governance has a significant influence on stock returns in a negative direction; good corporate governance has no significant influence on financial performance; good corporate governance has no significant influence on company value; stock returns have a significant influence on financial performance in a positive direction; financial performance has a significant influence on stock returns with a positive direction; stock returns significantly influence the value of the company in a positive direction; financial performance has a significant influence on the company value in a positive direction.
Originality/value
The novelty in this study is that the relationship between stock returns and financial performance is reciprocal, which is the relationship among variables that affect each other (back and forth causality), in which in the previous study, the relationship between variables is only one direction; besides, the previous study conducted an analysis to find out the influence of good corporate on stock returns, company value and financial performance separately, with mixed results.
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Elkana Timotius, Oki Sunardi, Iwan Aang Soenandi, Meriastuti Ginting and Burhan Sabini
This study investigated factors in the retail supply chains that were disrupted by the flow of the product distribution process from suppliers to retail stores and finally to…
Abstract
Purpose
This study investigated factors in the retail supply chains that were disrupted by the flow of the product distribution process from suppliers to retail stores and finally to consumers during the COVID-19 pandemic.
Design/methodology/approach
This qualitative study involved 12 key informants from two manufacturing industries and three retail industries in Indonesia. Meanwhile, the analysis of empirical conditions employed qualitative content analysis to discover facts of the inbound and outbound supplies in retail supply chains.
Findings
This study revealed high demands for certain products and a shift in consumer purchase trends during the pandemic screwed merchandising planning in retail stores. These conditions have brought continuous impacts on the production processes of manufacturing industries that also faced constrained raw material supplies. Container shortage in the global supply chain has increasingly aggravated the crisis of retail supply chains. 10;
Practical implications
Retailers and all related parties are ready to anticipate the changing of the supply chain by preparing strategies to overcome the crisis.
Originality/value
A contribution is made to the global retail supply chain in times of crisis and can serve as a framework for further research in each region.
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Han Donker, Eva K. Jermakowicz and Mohammad Nurunnabi
Prior research has shown that implementing International Financial Reporting Standards (IFRS) increases foreign direct investments at the macroeconomic (country) level. This study…
Abstract
Purpose
Prior research has shown that implementing International Financial Reporting Standards (IFRS) increases foreign direct investments at the macroeconomic (country) level. This study aims to demonstrate that the implementation of mandatory adoption of IFRS positively influences foreign shareholdings at the company level in Saudi Arabia.
Design/methodology/approach
The fixed effects regression model is used to estimate the impact of the adoption of IFRS on foreign ownership in a panel data set for Saudi Arabia over the period 2010 through 2021.
Findings
This study finds that IFRS adoption reduces information asymmetry and increases comparability, which attracts foreign investors. It also finds that firms with high foreign ownership have greater capital expenditures post-IFRS adoption, suggesting that foreign investors encourage firms to align their interests with those of shareholders and make more long-term investments. This paper demonstrates that firms increased their long-term investments and garnered greater free cash flows after adopting IFRS. Finally, this paper observes a positive association between IFRS employment and market liquidity.
Originality/value
To the best of the authors’ knowledge, this is the first research to reveal that, following the compulsory adoption of IFRS, foreign shareholdings have a favorable effect on corporate investments (capital expenditures and property, plant and equipment) at the micro (firm) level. It has been motivated by the assertion that a lack of portfolio investments results primarily from an asymmetry of information, which can be mitigated by providing high quality comparable financial information based on IFRS.
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The efficiency of each of an organization’s individual workers determines its effectiveness. The study aims to explore the relationship between human resource management (HRM…
Abstract
Purpose
The efficiency of each of an organization’s individual workers determines its effectiveness. The study aims to explore the relationship between human resource management (HRM) practices and organizational effectiveness with employee performance as a mediating variable.
Design/methodology/approach
Data were collected from 800 police officers in the Greater Accra and Tema regions. The data were supported by the hypothesized relationship. Construct reliability and validity was established through confirmatory factor analysis. The proposed model and hypotheses were evaluated using structural equation modeling.
Findings
The results show that career planning and employee performance were significantly related. Self-managed teams and employee performance were shown to be nonsignificantly related. Similarly, performance management and employee performance were shown to be nonsignificantly related. Employee performance significantly influenced organizational effectiveness. The results further indicate that employee performance mediates the relationship between HRM practices and organizational effectiveness.
Research limitations/implications
The generalizability of the findings will be constrained due to the research’s police service focus and cross-sectional data.
Practical implications
The study’s findings will serve as valuable pointers for the police administration in the adoption, design and implementation of well-articulated and proactive HRM practices to improve the abilities, skills, knowledge and motivation of officer’s to inordinately enhance the effectiveness of the service.
Originality/value
By evidencing empirically that employee performance mediates the relationship between HRM practice and organizational effectiveness, the study extends the literature.
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Suhadak Suhadak, Sri Mangesti Rahayu and Siti Ragil Handayani
The purpose of this paper is to observe and analyze the influence of good corporate governance (GCG) and financial architecture on stock returns and financial performance and its…
Abstract
Purpose
The purpose of this paper is to observe and analyze the influence of good corporate governance (GCG) and financial architecture on stock returns and financial performance and its implication for corporate value.
Design/methodology/approach
The data were analyzed using generalized structured component analysis. The unit of analysis for this research was LQ45 listed companies at the Indonesian Stock Exchange, taking data from the Indonesia Capital Market Directory (ICMD), and the annual reports and financial reports of these companies. The population researched was as many as 84 companies. For the sample, LQ45 companies with annual reports, financial reports and long-standing, continuous ICMD membership were examined using “purposive sampling.” The research sample was about 22 companies assessed over the course of five years (i.e. 110 samples).
Findings
First, GCG has a significant and negative relationship to stock returns; second, financial architecture has a significant and positive relationship to stock returns, financial performance and corporate value; third, stock returns have a significant and positive relationship to financial performance and corporate value; and fourth, financial performance has a significant and positive relationship to stock returns and corporate value.
Originality/value
The originality of this research is to be found in its examination and analysis of relationships between stock returns and financial performance, which was discovered to be reciprocal, namely, the relationship between the variables occurring affected each other (causality alternating with turning), whereas in previous studies the relationship between variables was unidirectional. Besides the research undertaken before, an analysis was made to understand the influence of GCG on stock returns, corporate value and financial performance. There are differences in the results between studies that support the conjecture that financial architecture has a significant positive effect on financial performance and corporate value, and also that financial architecture has a significant positive effect on financial performance and corporate value. Given those existing differences, this study reexamines the effect of financial architecture on financial performance and corporate value.
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La Ode Nazaruddin, Md Tota Miah, Aries Susanty, Maria Fekete-Farkas, Zsuzsanna Naárné Tóth and Gyenge Balázs
This study aims to uncover apple preference and consumption in Indonesia, to disclose the risk of non-halal contamination of apples and the importance of maintaining the halal…
Abstract
Purpose
This study aims to uncover apple preference and consumption in Indonesia, to disclose the risk of non-halal contamination of apples and the importance of maintaining the halal integrity of apples along the supply chain and to uncover the impacts of food miles of apples along supply chain segmentation.
Design/methodology/approach
This study adopted mixed research methods under a fully mixed sequential dominant status design (QUAN → qual). Data were collected through a survey in some Indonesian provinces (N = 396 respondents). Samples were collected randomly from individual consumers. The qualitative data were collected through interviews with 15 apple traders in Indonesia. Data were analysed using crosstab, chi-square and descriptive analysis.
Findings
First, Muslim consumers believe in the risk of chemical treatment of apples because it can affect the halal status of apples. Second, Indonesian consumers consider the importance of halal certification of chemical-treated apples and the additives for apple treatments. Third, the insignificance of domestic apple preference contributes to longer food miles at the first- and middle-mile stages (preference for imported apples). Fourth, apple consumption and shopping distance contribute to the longer food miles problem at the last-mile stage. Fifth, longer food miles have negative impacts, such as emissions and pollution, food loss and waste, food insecurity, financial loss, slow development of the local economy and food unsafety.
Practical implications
This research has implications for the governments, farmers, consumers (society) and business sectors.
Originality/value
This study proposes a framework of food miles under a halal supply chain (halal food miles) to reduce the risk of food miles and improve halal integrity. The findings from this research have theoretical implications for the development of the food mile theory, halal food supply chain and green supply chain.
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Suhadak Suhadak, Kurniaty Kurniaty, Siti Ragil Handayani and Sri Mangesti Rahayu
The purpose of this paper is to evaluate how much influence good corporate governance (GCG) has on corporate value, as well as moderating effect of stock return and financial…
Abstract
Purpose
The purpose of this paper is to evaluate how much influence good corporate governance (GCG) has on corporate value, as well as moderating effect of stock return and financial performance on the influence of GCG on corporate value.
Design/methodology/approach
This study was an explanatory study. The unit of analysis was the companies listed in LQ45 in Indonesian Stock Exchange and the sources of data were ICMD, annual report and financial reports of the companies. Indonesian Stock Exchange was selected as the setting of the study since Indonesian Stock Exchange is one of trading places for various types of companies in Indonesia, and it provides complete information on company’s financial data and stock price. The population was 84 companies listed in LQ45 in Indonesian Stock Exchange between 2010 and 2016.
Findings
The higher GCG, independent commissioners proportion, institutional managerial and public ownerships resulted in higher corporate value. MBE and PER stock return is a moderating variable in the influence of GCG on corporate value. Financial performance is moderating variable in the influence of GCG on corporate value.
Originality/value
Based on the previous studies, it may be concluded that there is a gap between the influence of GCG on corporate value and the influence of stock return on financial performance, and moderating variable is needed to evaluate the influence of GCG on company performance, more particularly stock return and financial performance. This discrepancy creates opportunity for conducting an in-depth study on those variables. Its novelty is correlation between stock return and financial performance as moderation. Previous studies used these as mediating variables. This study is going to generate different finding as it is conducted in different setting (country where this study is conducted), type of industry, research period and using different method of analysis.
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The purpose of this review was to expand the knowledge base regarding the relationship between principals’ leadership styles and teachers’ organizational citizenship behaviours…
Abstract
Purpose
The purpose of this review was to expand the knowledge base regarding the relationship between principals’ leadership styles and teachers’ organizational citizenship behaviours drawing on a database of 87 studies. The study utilized four different data sources (WoS, Scopus, ERIC, and Google Scholar).
Design/methodology/approach
Descriptive and content analysis methods were used to highlight the key tends in this literature, including growth trajectory, authorship trends, citation impact, quantitative research techniques, the composition of leadership styles, and detailed mediators and moderators.
Findings
The results revealed that transformational leadership was the most frequently studied leadership style. The study synthesized how principal leadership directly and indirectly affects teachers’ OCBs. The findings were interpreted considering existing educational leadership and management (EDLM) literature.
Originality/value
Given the rapid growth of research on the linkage between principals’ leadership styles and teachers’ OCBs and the fact that the field has been missing a comprehensive review to lay out the relevant literature on this topic, it is important to systematically review and scrutinize the relationship between leadership styles and teachers’ OCB. Reviewing this literature will provide guidance for future researchers through identifying major methodological gaps and suggesting recommendations for future directions. This study is the first review on the relationship between principals’ leadership styles and teachers’ organizational citizenship behaviours (OCBs).