Proper empirical tests of the effect of blockholders’ monitoring incentives on corporate governance are scant in the literature because the relationship between ownership…
Abstract
Purpose
Proper empirical tests of the effect of blockholders’ monitoring incentives on corporate governance are scant in the literature because the relationship between ownership structure and enforcement of corporate governance mechanisms is bidirectional. This study aims to address the endogeneity issue by examining the effect of blockholding on executive turnover–performance sensitivity, using the split-share-structure (SSS) reform in China as an exogenous shock to blockholders’ monitoring incentives.
Design/methodology/approach
This study uses a logit model for estimating the change in executive turnover–performance sensitivity around the SSS reform. Sub-sample analysis is conducted to examine whether the impact of SSS reform on the turnover-performance sensitivity is stronger for firms with more contestable blockholders who might consider stock liquidity, risk sharing and diversification in their monitoring/trading decisions.
Findings
Top executive turnover, defined as CEO or board chair turnover, becomes less sensitive to firm operating performance after the reform, mainly for firms with contestable blockholders prior to the reform. Stock liquidity and blockholders’ demand for diversification can explain the impact of contestable blockholding. Moreover, blockholding is sensitive to firm operating performance after the reform but not before it.
Originality/value
With few exceptions, most studies in the blockholding literature focus on the effect of blockholder monitoring on firm value. Examining an exogenous shock to blockholding, this paper provides a set of new evidence for the impact of blockholding on executive turnover–performance sensitivity. The results call for more evidence of the impact of blockholding on executive turnover from other markets.
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Yuan Huang, Zilong Song and Lewis H.K. Tam
The authors examine the joint effect of the country-wide legal institutions and product market competition on stock crash risk in a large sample of international firms.
Abstract
Purpose
The authors examine the joint effect of the country-wide legal institutions and product market competition on stock crash risk in a large sample of international firms.
Design/methodology/approach
In the study, the authors examine whether the country-level institutional factors affect product market competition's impact on stock crash risk. Specifically, the authors characterize country-wide institutional quality with individual governance indices developed in earlier studies and also adopt the worldwide board reforms as a proxy for the change in firms' governance environment.
Findings
The authors find that strong institutions mitigate the positive relationship between product market competition and stock crash risk in the international setting. In addition, the authors find that institutional quality moderates the effect of product market competition on stock crash risk via the information channel, i.e. although firms in competitive industries manage and report earnings more aggressively, strong institutions or board reforms, curtail managers' incentive to do so.
Originality/value
The authors’ findings lend support to the dark side of product market competition with a broader sample from 35 countries. In light of this, when earlier studies consider firms from competitive (concentrated) industries as having less (more) severe agency problems, future studies should consider the agency costs associated with product market competition for both the US firms and non-US firms. Furthermore, when it is debatable that regulators are self-interested, captured, uninformed and thus the regulations and institutions may not be fully effective as a result, this study demonstrates the effectiveness of institutions in ex ante mitigating agency conflicts associated with product market competition.
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The purpose of this paper is to examine the impact mechanism of psychological motivations, social influence and institutional influence on individuals’ continuance intention of…
Abstract
Purpose
The purpose of this paper is to examine the impact mechanism of psychological motivations, social influence and institutional influence on individuals’ continuance intention of MOOCs, and further, to explore if there exist behavioral differences between males and females.
Design/methodology/approach
Drawing on the social cognitive theory (SCT) and the technology acceptance theory, this study developed a theoretical model and conducted an empirical study in China. In total, 247 valid data were collected from college students using online survey, and the structural equation modeling technique was used to examine the research model.
Findings
The empirical results suggest that self-efficacy, self-enjoyment, self-development and social norm are positively associated with individuals’ continuance intention of MOOCs, while management commitment in the university has little influence on continuance intention. The moderating test further suggests that males are more likely to be influenced by self-development and perceived usefulness compared with females.
Practical implications
This study can provide several guidelines to the administrators of the MOOC platform regarding platform design, course selection and social community establishment, so as to encourage more students to participate in the MOOC platform.
Originality/value
This study applied the SCT in the new context of MOOCs to examine the joint effects of social, institutional and psychological motivation factors on individuals’ continuance intention, and unpacks the moderating effect of gender.
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Rahul Rajan Lexman, Rupashree Baral and Nimitha Aboobaker
The purpose of this study is to explore a gendered perspective on how learners' intrinsic psychological motivators: valence, technology-innovativeness, self-development and…
Abstract
Purpose
The purpose of this study is to explore a gendered perspective on how learners' intrinsic psychological motivators: valence, technology-innovativeness, self-development and self-efficacy as well as extrinsic social and institutional motivators, such as social norms and management commitment, collectively influence learners' behavioral intention to adopt asynchronous EdTech tools such as MOOCs.
Design/methodology/approach
A theoretical model was developed by integrating insights from social cognitive theory (SCT) and the technology acceptance model (TAM). Data were collected from 622 Indian college students across different academic levels who had enrolled in at least one MOOC. Data analysis was performed using covariance-based structural equation modeling (CB-SEM). The bootstrapping method using IBM AMOS 23.0 software was adopted further for moderation analysis.
Findings
The study found that while intrinsic drivers were positively associated with behavioral intention, extrinsic drivers had a limited influence. The results of the moderation analysis showed that gender significantly influenced the relationship between self-development and perceived usefulness as well as the relationship between valence and perceived usefulness. Our study’s findings represent a significant contribution to theoretical advancements, indicating a notable shift in students' learning emphasis from social interactions to self-directed approaches. These results align closely with the principles of connectivism within the heutagogy theory framework, underscoring learners' responsibility in shaping their learning journey.
Practical implications
Our study findings hold significant practical implications for future applications. Based on our study’s findings on the positive impact of self-development and self-efficacy, it is crucial to offer structured and interactive learning options for guided experiences. Integrating digital skills training into MOOC curricula can enhance engagement across diverse learner levels, given the significant predictive power of technology innovativeness. Furthermore, emphasizing the benefits of MOOC certifications, such as career advancement or academic recognition, can increase their appeal and perceived value, considering the significance of “valence” as an influential factor.
Originality/value
Asynchronous EdTech tools, notably MOOCs, have emerged as potent catalysts for social change, providing unparalleled accessibility, flexibility and avenues for lifelong learning. Our study pioneers an investigation into the impact of valence and technology innovativeness on learners' perceptions, significantly influencing their willingness to adopt MOOCs positively. By exploring nuanced sociological dynamics across diverse societies, our research underscores the necessity of customizing EdTech solutions to encompass diverse gender perspectives.
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Kanokkarn Snae Namahoot and Viphasiri Jantasri
The purpose of this paper is to propose a model that examines the relationships among the five dimensions of the unified theory of acceptance and use of technology (UTAUT) toward…
Abstract
Purpose
The purpose of this paper is to propose a model that examines the relationships among the five dimensions of the unified theory of acceptance and use of technology (UTAUT) toward the overall behavioral intentions (BIs); to use cashless payment systems in Thailand, which are practically based on the basic models and theories of consumer behavior such as the theory of reasoned action (TRA), theory of planned behavior (TPB) and technology acceptance model (TAM); and to explain the indirect effects between UTAUT and BIs to use cashless payment systems mediating by perceived risk and trust.
Design/methodology/approach
A total of 708 respondents, who have had an experience with a cashless payment system in Thailand, were selected using a stage sampling method. The data obtained from the participants were analyzed using a structural equation modelling approach.
Findings
The results of this paper reveal that UTAUT model, perceived risk and trust have all significant influences on BIs to use a cashless payment system. This suggests that consumers in Thailand adopt to specific financial technological innovation if they perceive that the risk is low and they can trust the system, especially if it is associated with a reliable online banking network.
Originality/value
The basic understanding of the UTAUT model that influences BIs to use cashless payment systems has been the focus of this current paper. This paper empirically examined the overall direct and indirect influences of UTAUT model and perceived risk, trust and BI to use. This current paper also expands the UTAUT theory by exploring several dimensions (i.e. performance expectancy, effort expectancy and social influence). Research findings reveal that effort expectancy can reduce perceived risk and increase trust in Thailand's cashless payment systems. This can generate more customer interest and engagement, as well as provide insights into customers' intentions in using a cashless payment system.
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Smart card-based E-payment systems are receiving increasing attention as the number of implementations is witnessed on the rise globally. Understanding of user adoption behavior…
Abstract
Smart card-based E-payment systems are receiving increasing attention as the number of implementations is witnessed on the rise globally. Understanding of user adoption behavior of E-payment systems that employ smart card technology becomes a research area that is of particular value and interest to both IS researchers and professionals. However, research interest focuses mostly on why a smart card-based E-payment system results in a failure or how the system could have grown into a success. This signals the fact that researchers have not had much opportunity to critically review a smart card-based E-payment system that has gained wide support and overcome the hurdle of critical mass adoption. The Octopus in Hong Kong has provided a rare opportunity for investigating smart card-based E-payment system because of its unprecedented success. This research seeks to thoroughly analyze the Octopus from technology adoption behavior perspectives.
Cultural impacts on adoption behavior are one of the key areas that this research posits to investigate. Since the present research is conducted in Hong Kong where a majority of population is Chinese ethnicity and yet is westernized in a number of aspects, assuming that users in Hong Kong are characterized by eastern or western culture is less useful. Explicit cultural characteristics at individual level are tapped into here instead of applying generalization of cultural beliefs to users to more accurately reflect cultural bias. In this vein, the technology acceptance model (TAM) is adapted, extended, and tested for its applicability cross-culturally in Hong Kong on the Octopus. Four cultural dimensions developed by Hofstede are included in this study, namely uncertainty avoidance, masculinity, individualism, and Confucian Dynamism (long-term orientation), to explore their influence on usage behavior through the mediation of perceived usefulness.
TAM is also integrated with the innovation diffusion theory (IDT) to borrow two constructs in relation to innovative characteristics, namely relative advantage and compatibility, in order to enhance the explanatory power of the proposed research model. Besides, the normative accountability of the research model is strengthened by embracing two social influences, namely subjective norm and image. As the last antecedent to perceived usefulness, prior experience serves to bring in the time variation factor to allow level of prior experience to exert both direct and moderating effects on perceived usefulness.
The resulting research model is analyzed by partial least squares (PLS)-based Structural Equation Modeling (SEM) approach. The research findings reveal that all cultural dimensions demonstrate direct effect on perceived usefulness though the influence of uncertainty avoidance is found marginally significant. Other constructs on innovative characteristics and social influences are validated to be significant as hypothesized. Prior experience does indeed significantly moderate the two influences that perceived usefulness receives from relative advantage and compatibility, respectively. The research model has demonstrated convincing explanatory power and so may be employed for further studies in other contexts. In particular, cultural effects play a key role in contributing to the uniqueness of the model, enabling it to be an effective tool to help critically understand increasingly internationalized IS system development and implementation efforts. This research also suggests several practical implications in view of the findings that could better inform managerial decisions for designing, implementing, or promoting smart card-based E-payment system.
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Mobile banking (or m-banking) has become an inseparable part of the modern finance model. Its success relies on customers’ affective responses and behavioral decisions. This study…
Abstract
Purpose
Mobile banking (or m-banking) has become an inseparable part of the modern finance model. Its success relies on customers’ affective responses and behavioral decisions. This study aims to examine the important determinants of positive word-of-mouth (POW) toward m-banking among older consumers.
Design/methodology/approach
A quantitative approach was applied in examining a proposed model with data obtained from 358 respondents based on a Web-based survey from Vietnam using a questionnaire.
Findings
It was determined that attitude, usage intention and satisfaction are the fundamental facilitators of POW in m-banking. Furthermore, perceived usefulness, ease of use and trust are the main predictors of attitude and usage intention, and epistemic value, conditional value, social value and technological value are the primary motivators of usage intention. Ease of use and trust positively affect perceived usefulness. Usage intention fosters higher levels of satisfaction. This study affirms the insignificant effects of ease of use and hedonic value on usage intention as well as satisfaction on attitude.
Practical implications
The findings are insightful for developers to concentrate on how to promote cognitive, affective and behavioral responses among old consumers in m-banking. Marketers should boost value perceptions and trust as the prerequisite underlying judgment and behaviors toward m-banking.
Originality/value
This work validates the synergistic model of POW among older consumers in m-banking by combining the technology acceptance model (TAM) and theory of consumption values (TCV). Thus, it would increase the exploratory power of the theoretical base toward m-banking and in an emerging market.
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Muhammad Sharif Abbasi, Fida Hussain Chandio, Abdul Fatah Soomro and Farwa Shah
It has been argued that behavioural models of technology acceptance do not serve equally across cultures. This study aims to extend technology acceptance model (TAM) to suit in a…
Abstract
Purpose
It has been argued that behavioural models of technology acceptance do not serve equally across cultures. This study aims to extend technology acceptance model (TAM) to suit in a developing country context. The model attempts to identify the relationship between social norms, management support and moderating factors voluntariness and experience.
Design/methodology/approach
The study used a quantitative methodology to investigate the correlational paths. A cross‐sectional survey was completed by 504 academics working in higher educational institutes of Pakistan. The data were analysed using structural equation modelling (SEM) based on partial least squares (PLS) methods.
Findings
The extended model achieved acceptable fit and most of the hypothesised paths were significant. Determinant perceived usefulness was an important construct of the internet acceptance, i.e. R2=34 per cent more than behavioural intention. Moderator experience diminished the impact of usefulness on behaviour usage.
Practical implications
The findings suggest that expecting acceptance behaviour from individuals on the basis of only TAM's constructs is not enough for introducing new IT technologies. The study reveals that an individual's perceptions are formed/changed through attitudinal and social beliefs, along with management support and usage experience.
Originality/value
The study is useful in non‐western cultural contexts. Specifically, in contrast to previous studies, diversity of individuals' acceptance behaviour is examined within a single south‐Asian country's context.
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Carolin Plewa, Indrit Troshani, Anthony Francis and Giselle Rampersad
Despite the growing prominence of innovation, limited studies examine the adoption of applications that support innovation processes. The purpose of this study is to investigate…
Abstract
Purpose
Despite the growing prominence of innovation, limited studies examine the adoption of applications that support innovation processes. The purpose of this study is to investigate the adoption of innovation management applications (IMAs).
Design/methodology/approach
The paper draws on qualitative and quantitative evidence sourced from innovation development and commercialization functions including R&D, marketing, and administration at a university and technology transfer office.
Findings
The paper contributes to literature by isolating determinants that affect the adoption of IMAs and their link to innovation process performance, confirming the importance of perceived usefulness and compatibility of IMAs to user's work styles.
Originality/value
There is paucity of research concerning the adoption of IMAs which present unique challenges due to their idiosyncrasies. This study contributes by proposing an adoption model and validating it. It also links IMA adoption to innovation process performance, thereby filling a gap in extant technology adoption research.
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Donna Wong, Hongfei Liu, Yue Meng-Lewis, Yan Sun and Yun Zhang
This study investigates the use of gamification in promoting the silver generation's adoption of mobile payment technology through the gamified cultural practice of gifting red…
Abstract
Purpose
This study investigates the use of gamification in promoting the silver generation's adoption of mobile payment technology through the gamified cultural practice of gifting red packets. It considers the effectiveness of using gamification in a cultural context to promote technology acceptance among older adults. This crossover between digital technology and cultural traditions brings unique gaming elements to the adoption of technology.
Design/methodology/approach
Drawing upon technology acceptance Model (TAM) and prospect theory, a research model is evaluated using structural equation modeling. Data were collected via survey from elderly consumers who are current users of WeChat but are yet to use its mobile payment functions.
Findings
The results reveal the perceived effectiveness of gamification is determined by the perceived enjoyment of the game and contributes to users' attitude development, directly and through its perceived usefulness. Perceived risks were identified as a barrier to converting positive attitude into adoption intention.
Research limitations/implications
The findings contribute to the conceptualization and understanding of the effectiveness of gamification in technology adoption, specifically among the silver generation.
Originality/value
In contrast with previous gamification studies on gamified experience, this study introduces a new conceptualization of the perceived effectiveness of gamification and its measurement. This study validates game engagement as being effective in encouraging seniors to adopt a technology. In an era of an aging population where digitization is a norm, improving the digital literacy and digital inclusion of elders by encouraging them to adopt technology is essential to developing a more accessible and inclusive social environment.