The purpose of this study is to investigate explanations for the behaviour of the size premium using measures of large and small stock holdings of mutual funds.
Abstract
Purpose
The purpose of this study is to investigate explanations for the behaviour of the size premium using measures of large and small stock holdings of mutual funds.
Design/methodology/approach
Returns‐based style analysis is used to measure asset class exposure by regressing equity fund returns on asset class returns over the period 1965 to 2003. The coefficients estimate portfolio asset allocation indicating a fund's investment styles. The estimates from 36‐month rolling regressions of US equity fund returns on various asset classes are aggregated and used as measures of investors' exposure to small stocks. The patterns are analyzed in the context of the behaviour of the abnormal returns to small stocks.
Findings
The results indicate the importance of the 1974‐1975 bear market to the historical size premium and support an overreaction and reversal argument. Exposure to small stocks drops dramatically between 1975 and 1977, suggesting a sell‐off of small stocks. Fund exposure subsequently increases rapidly to its highest levels between 1982 and the market crash of 1987. These patterns are consistent with pricing pressure that would lead to the initial undervaluation and subsequent overvaluation driving returns to small stocks over this period.
Originality/value
The study introduces the application of the returns‐based style analysis methodology to studying an asset‐pricing phenomenon and demonstrates important insights that can be obtained from the use of this methodology in new contexts and at an aggregate level.
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The purpose of this research is to reveal the gendered nature of social arrangements in order to bring to the surface the hidden discourses that mediate the opportunities of women…
Abstract
Purpose
The purpose of this research is to reveal the gendered nature of social arrangements in order to bring to the surface the hidden discourses that mediate the opportunities of women leaders in the field of corporate social responsibility (CSR) and sustainability.
Design/methodology/approach
The author uses critical sense-making (CSM) to analyze interviews with CSR leaders toward understanding the interconnected layers of influences they draw from as they make sense of their experiences.
Findings
Despite the positioning of women as being untapped resources within CSR, the reality within CSR leadership indicates that resilient, stereotypical social constructions of gender are being (re)created. However, cues can disrupt the ongoing process of sense-making and create shocks that represent opportunities for resistance as discriminatory practices are revealed.
Research limitations/implications
Applying CSM as a methodology and to the field of CSR adds a component to CSR and gender scholarship that is currently missing. CSM as a methodology bridges broader sociocultural discourses and the local site of sense-making, making visible the structures and processes that enable some narratives to become legitimized by the formative context and protect the status quo.
Social implications
If these leaders are able to use their discursive power to establish an alternate, dominant narrative throughout their organizations – a culture of emotional empathy within CSR – alternate meanings about the nature and purpose of CSR may emerge while highlighting the need for change.
Originality/value
Applying CSM as a methodology and to the field of CSR adds a component to CSR and gender scholarship that is currently missing. CSM as a methodology bridges broader sociocultural discourses and the local site of sense-making, making visible the structures and processes that enable some narratives to become legitimized by the formative context and protect the status quo.
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Pawan Budhwar, Andy Crane, Annette Davies, Rick Delbridge, Tim Edwards, Mahmoud Ezzamel, Lloyd Harris, Emmanuel Ogbonna and Robyn Thomas
Wonders whether companies actually have employees best interests at heart across physical, mental and spiritual spheres. Posits that most organizations ignore their workforce �…
Abstract
Wonders whether companies actually have employees best interests at heart across physical, mental and spiritual spheres. Posits that most organizations ignore their workforce – not even, in many cases, describing workers as assets! Describes many studies to back up this claim in theis work based on the 2002 Employment Research Unit Annual Conference, in Cardiff, Wales.
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Andry Alamsyah, Fadiah Nadhila and Nabila Kalvina Izumi
Technology serves as a key catalyst in shaping society and the economy, significantly altering customer dynamics. Through a deep understanding of these evolving behaviors, a…
Abstract
Purpose
Technology serves as a key catalyst in shaping society and the economy, significantly altering customer dynamics. Through a deep understanding of these evolving behaviors, a service can be tailored to address each customer's unique needs and personality. We introduce a strategy to integrate customer complaints with their personality traits, enabling responses that resonate with the customer’s unique personality.
Design/methodology/approach
We propose a strategy to incorporate customer complaints with their personality traits, enabling responses that reflect the customer’s unique personality. Our approach is twofold: firstly, we employ the customer complaints ontology (CCOntology) framework enforced with multi-class classification based on a machine learning algorithm, to classify complaints. Secondly, we leverage the personality measurement platform (PMP), powered by the big five personality model to predict customer’s personalities. We develop the framework for the Indonesian language by extracting tweets containing customer complaints directed towards Indonesia's three biggest e-commerce services.
Findings
By mapping customer complaints and their personality type, we can identify specific personality traits associated with customer dissatisfaction. Thus, personalizing how we offer the solution based on specific characteristics.
Originality/value
The research enriches the state-of-the-art personalizing service research based on captured customer behavior. Thus, our research fills the research gap in considering customer personalities. We provide comprehensive insights by aligning customer feedback with corresponding personality traits extracted from social media data. The result is a highly customized response mechanism attuned to individual customer preferences and requirements.
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The paper intends to show the role of fear of COVID-19 and the relevance of customer empowerment (CU_EMP) and customers’ perceived value of digital service transactions…
Abstract
Purpose
The paper intends to show the role of fear of COVID-19 and the relevance of customer empowerment (CU_EMP) and customers’ perceived value of digital service transactions (CU_PV_DST) in promoting green bank service purchase intention (GBS_PI), despite the antagonistic impacts brought in other sectors and the relevance of customer empowerment (CU_EMP) and customers’ perceived value of digital service transactions (CU_PV_DST) as important mediating variables of the relation.
Design/methodology/approach
The structured questionnaire helped collect survey data from 323 small business people. The model relationship was assessed through EFA, CFA by SPSS-AMOS and SEM using bootstrapping procedures in Smart-PLS.
Findings
The findings of this study show that there is a significant effect of fear of COVID-19 pandemic (F_COVID-19P) on CU_EMP and GBS_PI. CU_EMP influences GBS_PI, whereas F_COVID-19P influences GBS_PI indirectly via CU_EMP. Furthermore, there is a substantial effect of F_COVID-19P on CU_PV_DST and GBS_PI. Thus, F_COVID-19P significantly influences GBS_PI indirectly via CU_PV_DST.
Practical implications
Capitalizing on the COVID-19 wave by empowering customers technologically, improving the legal framework and increasing the perceived value of green service by using an innovative mechanism. In addition, fostering cultural change and emphasizing altruistic values through green advertisements have been explored in this study.
Social implications
Green services are healthier for smart/green economy and are health-protective for coping with health risks.
Originality/value
This study helps in understanding the theories used in this context by linking them to F_COVID-19P with CU_EMP, CU_PV_DST and GBS_PI and contributes to the literature of both. Furthermore, this is the only study that has used SEM to study this kind of interrelation.