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Article
Publication date: 15 February 2016

Hongbin Huang, Guanghui Jin and Jingnan Chen

The purpose of this paper is to expand the investor sentiment’s effect on investment efficiency to the layer of “credit financing,” studying whether investor sentiment can affect…

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Abstract

Purpose

The purpose of this paper is to expand the investor sentiment’s effect on investment efficiency to the layer of “credit financing,” studying whether investor sentiment can affect credit financing level and the inner mechanism of the effect.

Design/methodology/approach

The authors obtain firm-level data from the Shanghai and Shenzhen stock markets and using panel estimation techniques examine whether investor sentiment can affect credit financing level and the inner mechanism of the effect.

Findings

This paper finds that credit financing plays the role of partial media in the process of investor sentiment affecting investment efficiency. Based on the funds increasing effect, with the high-investor sentiment and increasing credit financing, corporations alleviate the financing constraints, but also provide a convenient for the abuse of corporate funds. So, investor sentiment positively associates with enterprises’ overinvestment, while investor sentiment negatively associates with enterprises’ underinvestment. Relying on the particular system background and property right environment in China, this paper finds that investor sentiment has an effect on the overinvestment of state-owned enterprises and the underinvestment of private enterprises through credit financing channel, while it does not function in the overinvestment of private enterprises. The reason of the difference is that under the soft budget constraint in the country, the credit preference of state-owned enterprises and the creditor’s rights management of banks are partially absent.

Research limitations/implications

By fusing the special financial environment and institutional background, this thesis further includes in the analysis frame the difference in governance effect by credit financing between state-owned and privately owned listed companies, and further analyzes the difference in impact on investment efficiency in enterprises of different natures after investor sentiment has affected enterprise credit financing.

Practical implications

This paper has verified the constraint assumption and deepened the research work on bank credit supply and answered practical questions such as whether the banks in the country exercise supervision function over the listed companies and on which kind of listed companies the supervision function plays a more effective role.

Social implications

As an unofficial substitution mechanism, bank-enterprise relationship can elevate the investment efficiency by private owned enterprises. Based on the timely research results on credit financing, reference is provided for private listed companies to utilize investor sentiment to improve its investment efficiency.

Originality/value

This paper has proved the specific path which creates the dual effects on resources allocation by investor sentiment, that is, the intermediary transmission in credit financing, clarifying the mechanism of action by which investor sentiment affects the efficiency of enterprise investment and making incremental contribution to the research of how investor sentiment affects the efficiency of enterprise investment.

Details

China Finance Review International, vol. 6 no. 1
Type: Research Article
ISSN: 2044-1398

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Article
Publication date: 10 December 2024

Puneett Bhatnagr

This study aimed to analyse user experiences and perceptions of eRupee banking applications in India, focussing on understanding the key factors driving user satisfaction and…

58

Abstract

Purpose

This study aimed to analyse user experiences and perceptions of eRupee banking applications in India, focussing on understanding the key factors driving user satisfaction and dissatisfaction.

Design/methodology/approach

A comprehensive text-mining approach was employed to analyse 5,176 user reviews collected from the Google Play Store. Sentiment analysis and latent Dirichlet allocation (LDA) were used to classify reviews and uncover prevailing themes.

Findings

The analysis revealed that positive reviews highlighted the themes of usefulness, convenience, satisfaction, app attributes, and ease of use. Negative reviews emphasise issues related to lack of trust, faulty updates, unreliability, security concerns, and inadequate customer support. The Logistic Regression model demonstrated superior performance in predicting user sentiments, achieving an AUC of 0.7926 and an accuracy rate of 77.90%.

Research limitations/implications

This study was limited to reviews from a single-platform source. Future research could incorporate data from multiple online sources and employ qualitative methods to gain deeper insight. Additionally, longitudinal studies and cross-cultural analyses are recommended to capture evolving user sentiments and global perspectives.

Practical implications

The findings provide actionable insights for bank managers, app developers and policymakers to enhance eRupee applications by addressing identified issues and leveraging positive aspects to improve overall user experience and satisfaction.

Originality/value

This study makes a novel contribution to the literature on digital currency and advanced text-mining techniques using machine-learning models to analyse user feedback in the context of an emerging economy. The proposed conceptual model and practical recommendations serve as the foundation for future research and practical development in digital financial services.

Details

Management Decision, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 29 May 2024

Farooq Ahmed, M. Muzamil Naqshbandi, Mehwish Waheed and Noor ul Ain

Grounded in the Social Exchange theory, this study focuses on the perception of digital leadership and innovative work behaviors. It also examines the complex effects of…

1077

Abstract

Purpose

Grounded in the Social Exchange theory, this study focuses on the perception of digital leadership and innovative work behaviors. It also examines the complex effects of leader-member exchange, learning orientation, and innovation capabilities.

Design/methodology/approach

We undertake a quantitative approach using a two-wave longitudinal field survey of 440 employees and managers from various backgrounds working in the automobile industry in France.

Findings

The findings based on Structural Equation Modeling reveal that the perception of digital leadership leads to innovative work behavior while leader-member exchange moderates between the perception of digital leadership and learning orientation. The findings also support the mediating roles of learning orientation and innovation capabilities.

Originality/value

The study contributes important policy suggestions, raises queries for additional investigation, and suggests theoretical and practical implications for leadership and organizational environmental factors to foster innovative work behaviors in organizations.

Details

Management Decision, vol. 62 no. 11
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 15 June 2010

Qianjin Dong, Xueshan Ai, Guangjing Cao, Yanmin Zhang and Xianjia Wang

The purpose of this paper is to obtain risk indicators of water security of drought periods in which the indices of reliability, resiliency, and vulnerability are integrated.

722

Abstract

Purpose

The purpose of this paper is to obtain risk indicators of water security of drought periods in which the indices of reliability, resiliency, and vulnerability are integrated.

Design/methodology/approach

It is not reasonable that weight coefficients of different risk indices are often determined subjectively in conventional procedures, so the entropy weight method is introduced and chosen to solve the problem. Entropy weight method can get the weight coefficients of different risk indices objectively and is valid from the case study.

Findings

The feasibility and validity of entropy weight methods to determine weight coefficients of different risk indices objectively are recognized.

Research limitations/implications

Accessibility and availability of data are the main limitations.

Practical implications

The paper provides a more objective risk indicator of water security of drought periods for water resources managers.

Originality/value

This paper determines the weight coefficients of different risk indices for risk assessment of water security of drought periods based on hazard entropy. The paper is aimed at water resources managers and relative researchers, especially those who deal with risk assessment of water security of drought periods.

Details

Kybernetes, vol. 39 no. 6
Type: Research Article
ISSN: 0368-492X

Keywords

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