Kirti Sood, Kumar Arijit, Prachi Pathak and H.C. Purohit
This paper aims to empirically examine the performance of the high-ESG (environment, social and governance) portfolio vis-à-vis the low-ESG portfolio at the Indian stock market…
Abstract
Purpose
This paper aims to empirically examine the performance of the high-ESG (environment, social and governance) portfolio vis-à-vis the low-ESG portfolio at the Indian stock market before and during the Covid19 pandemic.
Design/methodology/approach
The absolute rate of return and several risk-adjusted performance measures, for instance, Sharpe ratio, Modigliani–Modigliani measure, Treynor ratio, Jensen’s alpha, information ratio, Fama’s decomposition measure and Fama and French’s three-factor model, have been used in this study along with the t-test.
Findings
All three indices (CARBONEX, GREENEX and BSE 500) had better returns during Covid19 period as compared to the pre-Covid19 period. However, these returns were not statistically significant. During Covid19, the risk of the indices also rose, but they provided better returns for the additional risk taken. Finally, it is concluded that the performance of high-ESG and low-ESG stock portfolios did not differ significantly in both periods.
Practical implications
The study is relevant to individual and institutional investors, financial advisors, portfolio managers, corporations, policymakers, market regulators and society at large.
Social implications
This study emphasized the need to expand the role of ESG investment in India for the benefit of people, communities and society as a whole.
Originality/value
This research is the first of its kind, to the best of the authors’ knowledge, that compares the performance of a high-ESG portfolio with a low-ESG portfolio both before and during the Covid19, particularly in the Indian context.
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Vikas Kumar, Marlene Amorim, Arijit Bhattacharya and Jose Arturo Garza-Reyes
This study aims to address the management of reverse flows in the context of service supply chains. The study builds on the characteristics of services production reported in…
Abstract
Purpose
This study aims to address the management of reverse flows in the context of service supply chains. The study builds on the characteristics of services production reported in literature to: identify diverse types of reverse flows in services supply chains, discuss key issues associated to the management of reverse service flows and suggest directions for research for developing the knowledge for management of reverse flows in service contexts.
Design/methodology/approach
This study first provides an overview of the theoretical background which supports the identification and the characterization of the flows, and the reverse flows, involved in service production. A short summary of each paper accepted in this special issue is also provided to give readers an overview of the various issues around reverse exchanges in service supply chains that authors have attempted to address.
Findings
In this study, the authors identify distinct types of reverse flows in services production building on the analysis of the characteristics of service production and delivery reported in the literature. Our discussion highlights the fact that service supply chains can be quite diverse in the type of exchanges of inputs and outputs that take place between customers and providers, showing that often there can be substantial flows of items to return. In particular, and differently from manufacturing contexts, the authors highlight that in service supply chains, providers might need to handle bi-directional reverse flows.
Research limitations/implications
The lack of research on reverse service supply chains is, to a great extent, a consequence of dominant paradigms which often identify the absence of physical product flows as a key distinguishing feature of service supply chains, and therefore lead to the misbelief that in services there is nothing to return. This special issue therefore aims to clarify this misunderstanding through the limited selection of eight papers that address various issues around reverse exchanges in service supply chains.
Originality/value
While theoretical and empirical research in supply chain is abundant, management of reverse exchanges in service supply chain is sparse. In this special issue we aim to provide the first contribution to understand how the characteristics of service production raise new issues for the management of reverse flows in service supply chains, and to foster the development of adequate management strategies.
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The purpose of this paper is to evaluate the interrelationship between process recovery, employee recovery and customer recovery in a financial services call centre. The authors…
Abstract
Purpose
The purpose of this paper is to evaluate the interrelationship between process recovery, employee recovery and customer recovery in a financial services call centre. The authors also investigate how process recovery affects customer recovery via employees – the bridge between organisation and customers.
Design/methodology/approach
A case study–based approach is adopted in this study, and data triangulation is achieved through multiple data collection methods including semi-structured interviews, employees’ survey and company reports. Justice theory is the theoretical lens considered to understand the “service recovery (SR)” phenomenon.
Findings
This paper helps in understanding the relationship of process and employee recovery with customer recovery. Findings suggest that SR could be used for complaint management as well as in understanding and addressing the gaps in internal operations and employee skill sets. Factors such as training, operating systems, empowerment, incentives, and feedback were identified as critical in providing effective SR. Process improvement is necessary to control complaints by conducting root cause analysis and learning from failure.
Research limitations/implications
Findings are limited to a case company in financial services sector and thus limit its generalisability to other context. Questionnaire distributed to employees only included important dimensions of SR, which would be further developed in future research.
Originality/value
This paper explores the specific reverse exchange strategies, termed in this paper as SR, and analyses the different factors responsible for better performance in the exchange process. The paper highlights how the imbalance in the process and employee recovery dimensions can impact on customer recovery. Closing the customer complaint loop by using the SR perspective may help organisation to not only deal with complaints in a better way but also prevent such complaints in the future.
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Ann Elizabeth Esain, James Aitken, Sharon Jayne Williams and Maneesh Kumar
This paper aims to identify reverse flows and exchanges that support public service provision. Reverse flow literature has focused on manufacturing based supply chains using the…
Abstract
Purpose
This paper aims to identify reverse flows and exchanges that support public service provision. Reverse flow literature has focused on manufacturing based supply chains using the lens of exchange (recovery, reuse, repair and recycle) to gain performance improvement in product flows. Limited research is available to support an understanding of customer-derived reverse exchange (RE) service processes. The authors contribute to the service literature through the development of RE antecedents and derive new and revised definitions with the supporting constructs of RE service processes.
Design/methodology/approach
This paper synthesises literature creating a framework of antecedents for RE. Antecedents reflect differences of service flow (level of service inseparability and ‘acting upon’). These antecedents are empirically tested within an illustrative pre-existing UK healthcare case study against the synthesised antecedents and existing RE definitions. Two teams of researchers reviewed the data generated from public service supply chain processes. Definitions of RE were either revised or derived from the empirical data by each team.
Findings
The service concept of ‘acting upon’ for inseparable public service supply chain flows provides a basis for examining the existence of reverse flows and exchanges. Revised and new classifications to the RE model are proposed to stimulate contextual performance improvement and innovation in public service provision. Psychological utility is an additional feature to economic, environmental and social utility in public service RE. RE offers practitioners and academics a strategic operational competence to achieve improvement and innovation in public services and further advance this concept.
Originality/value
Extending the literature beyond the manufacturing derived RE concept to develop an understanding of the customer’s role in preserving and co-creating value in RE and flows in public service. New RE antecedents for public services, including the potential of psychological utility, are presented.
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Ying Xie, Liz Breen, Tom Cherrett, Dingchang Zheng and Colin James Allen
This study aims to provide insights into the scale and use of information and communication technology (ICT) in managing medical devices in the National Health Service (NHS), with…
Abstract
Purpose
This study aims to provide insights into the scale and use of information and communication technology (ICT) in managing medical devices in the National Health Service (NHS), with a focus on reverse exchange (RE) systems as a part of the broader reverse logistics (RL) systems, within which medical devices are returned and exchanged.
Design/methodology/approach
Two case studies were conducted with NHS Hospital Trusts, whilst another was built upon secondary resources. Primary findings were triangulated with the information collected from the NHS Trusts’ reports, direct observation and a preliminary round of consultations with 12 health-care professionals working in other NHS Trusts or Integrated Equipment Community Services.
Findings
The findings of this paper suggest that the sophistication of ICT implementation increases with the risks and value associated with medical devices. Operational attributes are derived from ICT implementations which can positively affect RE performance. The forces that drive the adoption of ICT in the NHS include pressure from government, business partners and patients; competitive pressure; perceived benefits; organisation size; top management support; and the availability of sufficient resources. Obstacles are mainly centred around the lack of sufficient resources.
Research limitations/implications
Although the trusts that participated in this research are representative of different regions, the generalisation of the study results may be limited by the size of the sample organisations, so the results can only provide insights into the research problem. As this work is exploratory in nature, there is insufficient data on which to form definitive recommendations.
Practical implications
NHS Trusts may use the six operational attributes identified and verified by the case studies to benchmark their ICT implementation for device management. The actual and potential benefits of ICT implementation could inform technology development and encourage the uptake of ICT in healthcare. Governmental bodies can utilise this information to develop directives to actively drive ICT adoption in device management and the associated RE system. A well-considered training programme is needed to improve staff ICT skills to fully realise the potential of ICT systems which support the effective RE of medical devices.
Originality/value
The results of this paper suggest that the reverse management of medical devices backs up the supply chain attained through using ICT, which in turn reduces capital costs, medical risk and increases the finance available for frontline medical treatment.
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Loo-See Beh, Abby Ghobadian, Qile He, David Gallear and Nicholas O'Regan
The authors examine the role of entrepreneurial business models in the reverse supply chain of apparel/fashion retailers. The purpose of this paper is to offer an alternative…
Abstract
Purpose
The authors examine the role of entrepreneurial business models in the reverse supply chain of apparel/fashion retailers. The purpose of this paper is to offer an alternative approach to the “return to the point of origin” prevalent in the reverse chain of manufacturers but less technically and economically feasible in the case of apparel/fashion retailers. This approach, second-life retailing, not only reduces waste but also democratises consumption.
Design/methodology/approach
The paper is based on an extensive literature review, semi-structured interviews with managers of two second-life retailers in Malaysia and observations of a number of stores.
Findings
Using the Business Model Canvas, the authors demonstrate the essential characteristics of second-life retailers. Retailers in this study, unlike retailers in the developed world, combine traditional business models with off-price retailing. There is no clear demarcation between the forward and reverse supply chain used to manage first- and second-hand retailing.
Practical implications
The paper demonstrates the potential of innovative business models in the reverse supply chain. It encourages managers to look beyond the “return to the point of origin” and seek imaginative alternatives. Such alternatives potentially could result in additional revenue, enhanced sustainability and democratisation of consumption meeting triple bottom line objectives.
Originality/value
This paper highlights the importance and relevance of entrepreneurial business models in addressing the reverse supply chain, demonstrating this with the aid of two Malaysian off-price retailers. It also contributes to our nascent knowledge by focusing on emerging markets.
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Emy Ezura A Jalil, David B. Grant, John D Nicholson and Pauline Deutz
The purpose of this paper is to investigate the proposition that there is a symbiosis effect for exchanges between household waste recycling systems (HWRSs) and household…
Abstract
Purpose
The purpose of this paper is to investigate the proposition that there is a symbiosis effect for exchanges between household waste recycling systems (HWRSs) and household recycling behaviour (HRB) within the reverse logistics (RL) discourse.
Design/methodology/approach
The paper contains empirical findings from a two phase, multi-method approach comprising consecutive inductive and deductive investigations. The qualitative and quantitative data underpin exploratory and explanatory findings which broaden and deepen the understanding of this phenomenon.
Findings
Analysis identified significant interactions between situational and personal factors, specifically demographic factors, affecting HRB with key factors identified as engagement, convenience, availability and accessibility.
Research limitations/implications
Findings confirm the existence of a symbiosis effect between situational and personal factors and inform current research trends in the environmental sciences, behavioural and logistics literature, particularly identifying consumers as being an important pivot point between forward and RL flows.
Practical implications
Findings should inform RL-HWRSs design by municipalities looking to more effectively manage MSW and enhance recycling and sustainability. RL practitioners should introduce systems to support recovery of MSW in sympathy with communication and education initiatives to affect HRB and should also appreciate a symbiosis effect in the design of HWRSs.
Social implications
The social implications of improved recycling performances in municipalities are profound. Even incremental improvements in the performance of HWRSs can lead to enhanced sustainability through higher recycling rates, reduced diversion of MSW to landfill, decreases in pollution levels, reduced carbon footprints and reduction in depletion of scarce natural resources.
Originality/value
The paper marks an early contribution to the study of symbiosis in HWRSs and HRB pertaining to RL. Findings are offered that identify the key situational and personal factors that interact to affect enhanced HWRSs and also offer insights above those available in current multi-disciplinary literature that has largely examined such factors in isolation. Conclusions offer the possibility of an epistemological bridge between the social and natural sciences.
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Ruizhi Yuan, Martin J Liu, Alain Yee-Loong Chong and Kim Hua Tan
Despite the growing interest in reverse exchange, studies on the subject from the perspective of consumer participation and motivation remain sparse. Consumers’ participation in…
Abstract
Purpose
Despite the growing interest in reverse exchange, studies on the subject from the perspective of consumer participation and motivation remain sparse. Consumers’ participation in reverse exchange is a key component of supply-chain reverse logistics. To address the gap in existing studies, this paper aims to empirically identify the intention and causes of consumer electronic product exchange (EPE). The proposed research model incorporates value-belief-norm and neutralization theories, linking consumers’ values to their intentions to participate in EPE.
Design/methodology/approach
Survey data collected from 250 consumers were analyzed using structural equation modeling.
Findings
This discussion shows that people are more likely to present positive attitudes when they are ethically concerned. However, this tendency is not without exceptions and behavior influenced by ethics was not always observed. Upon examination, the findings highlight moderating forces of psychological tension that arise when people behave in ways that are in apparent contradiction to their expressed positive attitudes.
Research limitations/implications
It is important to modify the model by analyzing consumers’ actual EPE behaviors. Future research should also reconsider the results from a longitudinal perspective.
Practical implications
The reverse logistics management practices proposed offer valuable insight into other various activities as well, including an integrated supply chain model and improving customer service.
Social implications
The proposed action of EPE encourages consumers as well as managers to reduce, recycle or effectively dispose of waste.
Originality/value
Current reverse exchange models are insufficient for measuring consumer motivations perspective, which is a key but inadequately researched perspective of determining the effectiveness of reverse logistics management. This research endeavors to fill this gap and augment previous studies in EPE by advancing the discussion on how the concept of reverse logistics management is evaluated and justified in relation to consumption values and psychological motivations.
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Glenn C Parry, Saara A. Brax, Roger S. Maull and Irene C. L. Ng
Improvement of reverse supply chains requires accurate and timely information about the patterns of consumption. In the consumer context, the ways to generate and access such…
Abstract
Purpose
Improvement of reverse supply chains requires accurate and timely information about the patterns of consumption. In the consumer context, the ways to generate and access such use-visibility data are in their infancy. The purpose of this study is to demonstrate how the Internet of Things (IoT) may be operationalised in the domestic setting to capture data on a consumer’s use of products and the implications for reverse supply chains.
Design/methodology/approach
This study uses an explorative case approach drawing on data from studies of six UK households. “Horizontal” data, which reveals patterns in consumers’ use processes, is generated by combining “vertical” data from multiple sources. Use processes in the homes are mapped using IDEF0 and illustrated with the data. The quantitative data are generated using wireless sensors in the home, and qualitative data are drawn from online calendars, social media, interviews and ethnography.
Findings
The study proposes four generic measurement categories for operationalising the concept of use-visibility: experience, consumption, interaction and depletion, which together address the use of different household resources. The explorative case demonstrates how these measures can be operationalised to achieve visibility of the context of use in the home. The potential of such use-visibility for reverse supply chains is discussed.
Research limitations/implications
This explorative case study is based on an in-depth study of the bathroom which illustrates the application of use-visibility measures (UVMs) but provides a limited use context. Further research is needed from a wider set of homes and a wider set of use processes and contexts.
Practical implications
The case demonstrates the operationalisation of the combination of data from different sources and helps answer questions of “why?”, “how?”, “when?” and “how much?”, which can inform reverse supply chains. The four UVMs can be operationalised in a way that can contribute to supply chain visibility, providing accurate and timely information of consumption, optimising resource use and eliminating waste.
Originality/value
IDEF0 framework and case analysis is used to identify and validate four UVMs available through IoT data – that of experience, consumption, interaction and depletion. The UVMs characterise IoT data generated from a given process and inform the primary reverse flow in the future supply chain. They provide the basis for future data collection and development of theory around their effect on reverse supply chain efficiency.
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Qile He, Abby Ghobadian, David Gallear, Loo-See Beh and Nicholas O'Regan
– Recognizing the heterogeneity of services, this paper aims to clarify the characteristics of forward and the corresponding reverse supply chains of different services.
Abstract
Purpose
Recognizing the heterogeneity of services, this paper aims to clarify the characteristics of forward and the corresponding reverse supply chains of different services.
Design/methodology/approach
The paper develops a two-dimensional typology matrix, representing four main clusters of services according to the degree of input standardization and the degree of output tangibility. Based on this matrix, this paper develops a typology and parsimonious conceptual models illustrating the characteristics of forward and the corresponding reverse supply chains of each cluster of services.
Findings
The four main clusters of service supply chains have different characteristics. This provides the basis for the identification, presentation and explanation of the different characteristics of their corresponding reverse service supply chains.
Research limitations/implications
The findings of this research can help future researchers to analyse, map and model forward and reverse service supply chains, and to identify potential research gaps in the area.
Practical/implications
The findings of the research can help managers of service firms to gain better visibility of their forward and reverse supply chains, and refine their business models to help extend their reverse/closed-loop activities. Furthermore, the findings can help managers to better optimize their service operations to reduce service gaps and potentially secure new value-adding opportunities.
Originality/value
This paper is the first, to the authors ' knowledge, to conceptualize the basic structure of the forward and reverse service supply chains while dealing with the high level of heterogeneity of services.