Kaleem Mohd Khan, M. Khalid Azam and Mohmood Ali Khan
Advertising is not an end in itself; it is a means to an end, or more correctly to several ends. In business, advertising is used as one of the major promotion tools to stimulate…
Abstract
Advertising is not an end in itself; it is a means to an end, or more correctly to several ends. In business, advertising is used as one of the major promotion tools to stimulate demands for the product or enhance the image of the organisation. These are its long‐range objectives. However, the short‐range objectives of advertising may be more narrowly defined in terms of creating brand awareness, changing consumers' attitudes positively, gaining public acceptance for a product, informing a particular event, and building a particular image for a product.
Sadia Cheema, Nirmal Ahsan, Sadaf Amjad and Zaira Yasmeen Bukhari
This study attempts to evaluate the antecedences of customer loyalty and the moderating effect of social media. Three antecedences are evaluated in this study, including service…
Abstract
This study attempts to evaluate the antecedences of customer loyalty and the moderating effect of social media. Three antecedences are evaluated in this study, including service quality expectation, product innovation, and customer relationship management. It investigates their impact on the dependent variable, which is customer loyalty and also study their relationships in the presence of the mediating effect of customer satisfaction and moderating effects of social media. The present study was conducted in the hospitality sector of Pakistan, in which eight hotels and restaurants have been studied. The sample was collected from three major cities of Pakistan, namely, Multan, Faisalabad, and Lahore. This present study provides essential intuition for managers and market analysts on building strong customer relationship management through social media and to increase customer loyalty through different factors.
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Kamran Mohy-Ud-din, Muhammad Azam, Hamad Ul Haq and Shakeel Aslam
This study aims to investigate the determinants of localised corporate social responsibility (LCSR) activities in Pakistan. The present study explores factors influencing the…
Abstract
Purpose
This study aims to investigate the determinants of localised corporate social responsibility (LCSR) activities in Pakistan. The present study explores factors influencing the corporate sector to promote the welfare of local areas where the company has located its manufacturing plants.
Design/methodology/approach
The authors selected 100 companies listed on the Pakistan Stock Exchange. Data were collected from the companies’ financial reports issued from 2012 to 2017 (N = 700). The authors analysed the data using fixed- and random-effects regression models to test the factors influencing LCSR activities.
Findings
The findings indicate that directors’ ancestry significantly enhances LCSR. This implies that boards with a greater number of directors whose names indicate their relevant ancestry are more likely to engage in LCSR. Moreover, environmental-protection activity by the corporate sector promotes LCSR initiatives. However, Pakistan’s corporate sectors are not promoting the essential aspects of their workers’ welfare, e.g. health and education.
Research limitations/implications
The present study was limited to the directors’ ancestry, environmental corporate social responsibility (CSR), CSR for factory workers and donation. Other factors, such as culture and language, may play an important role in determining LCSR.
Practical implications
The results suggest that the Security and Exchange Commission of Pakistan should emphasise the importance of LCSR to develop rural areas and devise meaningful policy for CSR. These findings provide substantial evidence that regulators and policymakers should encourage the inclusion of LCSR by firms listed on the stock exchange to increase environmental protection through CSR policy.
Originality/value
To the best of the authors’ knowledge, this study is the first to explore the determinants of LCSR. Moreover, the present study investigates for the first time the influence of directors’ ancestry on rural development in any of Asia’s developing countries, including Pakistan. The findings of this study contribute theoretically and empirically to the literature.
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Muhammad Kamran, Hadrian Geri Djajadikerta, Saiyidi Mat Roni, Erwei Xiang and Pakeezah Butt
This study examines how board gender diversity (BGD) interacts with the “tough vs tender” trait in country cultures in influencing firms' corporate social responsibility (CSR).
Abstract
Purpose
This study examines how board gender diversity (BGD) interacts with the “tough vs tender” trait in country cultures in influencing firms' corporate social responsibility (CSR).
Design/methodology/approach
An extensive set of environmental, social and governance (ESG) data of 5,748 firms from 70 countries were collected from Bloomberg terminal, and national-level data on “tough vs tender” societies were collected from the official website of Hofstede. The data were analysed using hierarchical multiple regression (HMR) and bootstrapping estimation techniques.
Findings
The findings show that BGD increases the extent of firms' CSR, with a more pronounced relationship in the tender than in the tough societies. Results are consistent in traditional (p-value based HMR) and robust (confidence intervals reliant bootstrapping) estimation techniques.
Originality/value
This study provides empirical evidence on tough vs tender societies' moderating role in the relationship between BGD and CSR from a rounded international setting. It also raises interesting insights about the dynamics in boards' responses to institutional forces as an avenue for future research.
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This study aims to examine the impact of board gender diversity on sustainable growth by considering the mediating role of investment efficiency (INVEFF) in this relationship and…
Abstract
Purpose
This study aims to examine the impact of board gender diversity on sustainable growth by considering the mediating role of investment efficiency (INVEFF) in this relationship and the threshold effect between board gender diversity and INVEFF. This investigation focuses on the Gulf Cooperation Council (GCC) region, which is characterized by rapid socio-economic transformations and a recent emphasis on gender diversity.
Design/methodology/approach
Panel data regressions are applied to estimate the impact of board gender diversity on INVEFF using companies listed in the GCC in 2013–2022 as a sample. The estimations consider subsamples of underinvestment and overinvestment, as well as the pre- and post-COVID-19 pandemic periods.
Findings
The empirical results show a nonlinear impact of board gender diversity on INVEFF, a relationship that is more pronounced in the underinvestment subsample. The results indicate that INVEFF mediates the relationship between board gender diversity and corporate sustainable growth, which helps companies optimize their board composition to enhance their sustainable growth strategies.
Research limitations/implications
These findings could inform GCC regulators in mandating further increases in women’s presence on boards of directors to improve INVEFF. This study examined only GCC-listed companies. Future research should investigate other factors influencing INVEFF and conduct comparative studies across Middle Eastern and North African countries to consider different regulatory and economic contexts and to examine compliance with international standards.
Social implications
This study reveals the significant nonlinear impact of board gender diversity on INVEFF and the mediation of INVEFF in the relationship between board gender diversity and sustainable growth. These findings will help companies optimize their board of directors’ composition by increasing the presence of women on boards to improve their INVEFF and sustainable growth. This study aims to develop knowledge that will not only benefit companies regarding the potential impact of board gender diversity but also help international communities create better gender equality within companies.
Originality/value
To the best of the author’s knowledge, this study is the first to explore the relationship between board gender diversity and INVEFF in the emerging economies of the GCC region. It is also the first to examine the nonlinear relationship between board gender diversity and INVEFF and the mediating role of INVEFF in the relationship between board diversity and sustainable growth. This study contributes to the understanding of the financial impact of board gender diversity in improving corporate INVEFF and sustainable growth.
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Muhammad Sholihin, Nurus Shalihin, Mega Ilhamiwati and Hendrianto Hendrianto
This study aims to gain new insight into how a set of maqasid-based consumption intelligence variables mediates exogenous variables (i.e. religiosity, Islamic university role and…
Abstract
Purpose
This study aims to gain new insight into how a set of maqasid-based consumption intelligence variables mediates exogenous variables (i.e. religiosity, Islamic university role and normative belief) and halal purchase intention as an endogenous variable.
Design/methodology/approach
The research model is empirically tested with a data set of 370 responses retrieved from the students of the millennial generation from the cross Islamic state university in Indonesia. Data were analysed with Partial Least Square Structural Equation Modelling (PLS-SEM). The sample size of this study is computed with preliminary power analysis.
Findings
The SEM finding revealed that two maqasid-based consumption intelligence variables had mediated the exogenous and endogenous variables, i.e. halal purchase intention. These variables mediating the exogenous and endogenous variables have explained 63.5 R2 variances in halal purchase intention. Concerning individual impact size of cognition and motivation as a component of maqasid-based consumption intelligence has shown medium-level effect size (f2) in mediating the halal purchase intention. Interestingly, the exogenous variable does not directly affect halal purchase intention but must be mediated with maqasid-based consumption intelligence variables. However, before including variables of maqasid-based consumption intelligence, the R2 was relatively small. It is just 30.4% in R2 that explains the variance of halal purchase intention.
Research limitations/implications
This study explores maqasid-based consumption intelligence as a relatively new model to explain the variable halal purchase intention. Therefore, it takes many types of exogenous variables to test how relevant maqasid-based consumption intelligence variables can define endogenous variables. Notwithstanding, this study does not do that because it only limits three exogenous variables (i.e. religiosity, Islamic university role and normative belief). Therefore, in further research, these limitations seem to be perfected by other scholars concerned about halal purchase intention.
Practical implications
The findings of this study allow Islamic universities to mainstream halal issues as a subject of learning, especially concerning consumption ethics. In addition, the empirical results of this study encourage the industry to pay attention to the essential components in determining the halal quality of the products offered because the millennial generation is now very aware of the importance of halal products.
Originality/value
This study contributes to the existing literature on halal purchase intention by testing maqasid-based consumption intelligence variables as mediators. Moreover, this is a pioneer study to consider and construct maqasid-based consumption intelligence as a model that explains halal purchase intention.
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Qichun Wu, Fumitaka Furuoka and Shu Chui Lau
The importance of board composition, especially female directors’ presence on boards, is thought to influence corporate responsibility performance, has attracted significant…
Abstract
Purpose
The importance of board composition, especially female directors’ presence on boards, is thought to influence corporate responsibility performance, has attracted significant scholarly interest. This study aims to examine how board gender diversity (BGD) affects corporate social responsibility (CSR) performance and the moderating factors that influence the relationship. There is a lack of research on the moderating indicators (variable measurement, geographic location, data sets and gender parity score) that impact the BGD and CSR relationship.
Design/methodology/approach
This study uses content analysis and meta-analysis to combine the findings of 44 selected papers published from 2010 to 2019, comprehensively reviewing the academic literature on gender diversity in the board composition. Independent and dependent variables are classified based on the variable measurement; this study examines the moderator indicators, such as geographical location, research data sets and gender parity score to investigate the BGD and CSR relationship.
Findings
The findings indicated a significant positive relationship between BGD and CSR performance. The meta-method results showed that the measurements of BGD and CSR limited to impact on the relationship. But a significant moderating effect of the geographical location on the BGD-CSR relationship, the BGD-CSR relationship would be stronger in the firms located in North America than firms located in Asia and other areas. Empirical results also showed a significant moderating effect of gender parity score. There would be stronger BGD-CSR relations in the firms located in the countries with higher gender parity score than the firms located in the countries with low gender parity score. This means the female status is an essential indicator of moderating the BGD-CSR relationship.
Research limitations/implications
The main shortcoming is a lack of sufficient articles on the BGD-CSR relationship. In a future study, researchers may use other databases, such as Google scholar or Ebscohost, to increase the number of relevant articles. These studies would offer new insight into the meta-analysis of the relationship between the BGD and CSR. Finally, the authors identify the potential trend in future research, future research on BGD will need for standardized metrics. The Geographic location is an important indicator that will influence the female director role in CSR. A systematic measure and data of gender research are more important for study in this field.
Practical implications
Meta-analysis is conducted on the independent and dependent variables to examine the causality between BGD and CSR performance, which could better explore diversity among different countries’ boards and, more generally, to investigate the degree to which diversity may influence CSR. Firms may try to balance the BGD to improve future development prospects. Specifically, the results of this study have important implications for corporate governance and policymakers.
Social implications
First, this systematic study uses meta-analysis to combine the findings of previous research on the BGD-CSR. The current research attempts to incorporate mixed empirical results based on the different variable measurements. Second, this study develop and test a contingency model of female on boards and CSR that considers uses the geographic location factors that may enhance or diminish the influence of female on boards on CSR. Specifically, the authors examine whether and under what conditions, boards with more female directors differ for inter-country heterogeneity to which they engage in monitoring roles and are involved with strategy management.
Originality/value
First, this study could be the first systematic study that uses the meta-analysis to combine previous research findings on the BGD-CSR. Second, the current research attempts to incorporate mixed empirical results based on the different variable measurements. Third, this study uses the “gender parity score” to account for inter-country heterogeneity in the BGD-CSR relationship. This study also identifies the potential trend in future research.
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Ahmad Hambali and Desi Adhariani
This study aims to analyse whether Sharia-compliant companies have better sustainability performance, especially in the midst of the COVID-19 pandemic. The pandemic context is…
Abstract
Purpose
This study aims to analyse whether Sharia-compliant companies have better sustainability performance, especially in the midst of the COVID-19 pandemic. The pandemic context is worth investigating as there is a concern that companies will reduce their sustainability activities to focus more on economic recovery, thereby leading to lower sustainability performance.
Design/methodology/approach
This study uses data from companies listed on Indonesian and Malaysian stock exchanges. These two countries have experienced rapid developments in Islamic finance and possess similar criteria in assigning the Sharia compliance label to a company. The data on sustainability performance and its three dimensions (environmental, social and governance) were gathered from Refinitiv (Thomson Reuters) and analysed using panel data regression.
Findings
The results show that Sharia-compliant companies had a higher sustainability performance in all research periods, but not during the COVID-19 pandemic. This implies that the pandemic has not triggered a need for Sharia-compliant companies to improve their sustainability performance. The results can be interpreted that sustainability performance is not only at stake during the COVID-19 pandemic but it can also indicate a “business-as-usual” approach applied by companies regardless of the Sharia-compliant label.
Originality/value
Sustainability performance has been intensively investigated in prior research, but how it is related to the current health crisis and Sharia compliance has been scantily studied and becomes the originality of this research.
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This study aims to highlight the current trends in the literature on corporate governance by applying a bibliometric review of papers on corporate governance topics published in…
Abstract
Purpose
This study aims to highlight the current trends in the literature on corporate governance by applying a bibliometric review of papers on corporate governance topics published in the journal of Corporate Governance: The International Journal of Business Society (Bingley).
Design/methodology/approach
Bibliometric analysis is a quantitative and qualitative approach applied to bibliographic materials that highlights the core theoretical and empirical contributions to a specific research field. This analysis was based on keyword cartography, bibliometric authors’ citation analysis, bibliometric papers’ co-citation analysis, bibliometric references’ co-citation analysis, journals’ co-citation cartography and qualitative content analysis. It reviews 353 articles on corporate governance published in the journal of Corporate Governance (Bingley). Bibliometric analysis was performed using VOSviewer, and content analysis was performed using WordStat.
Findings
The results identify three major clusters: corporate governance; board of directors; and firm performance. In addition, the results reveal that the journal Corporate Governance (Bingley) has experienced increasingly important growth in research papers on corporate governance topics and citations, reflecting its significant contribution to the corporate governance research field. This study also presents recommendations for future research in this field.
Practical implications
The findings of this study have implications for corporate governance research, such as the impact of ownership structure and the board of directors on environmental, social and governance disclosure. To the best of the authors’ knowledge, this study is the only one to review the key corporate governance research topics on which papers published in the journal of Corporate Governance (Bingley) are focused and can be largely used for corporate governance practices.
Originality/value
This study provides an overview of how the literature on corporate governance research has developed, as well as a summary of the most influential authors, along with countries, organizations and journal sources. This offers an opportunity for future research to focus on this topic.
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Tahira Awan, Syed Zulfiqar Ali Shah, Muhammad Yar Khan and Anam Javeed
The capital markets witness phenomenal shifts of corporate control. With the shift of world economy into a global one, there has been a rapid increase in the volume of…
Abstract
Purpose
The capital markets witness phenomenal shifts of corporate control. With the shift of world economy into a global one, there has been a rapid increase in the volume of acquisitions. The previous studies shed light on the motives behind acquisition and impact of acquisition on both bidding and target firms. The purpose of this study is to bridge a gap in literature by exploring the factors affecting the acquisition ability (AA) of the firms. The study has analyzed the role of financial strength, corporate governance and regulatory influence on AA of acquiring firm.
Design/methodology/approach
Cross-sectional data has been analyzed with respect to Pakistan stock exchange for a period of 2004-2017 by using logit regression.
Findings
Analysis indicates that firm-specific variables are important determinants in firm’s decision to acquire. Chief Executive Officer duality and presence of institutional shareholders on the board contribute to this important phenomenon in the life of the acquiring firms. Bidding firm’s financial strength is also another important consideration while going for corporate control transfer transactions. The empirical results indicate the better AA for firms characterized by minimum capacity usage, lower level of intangible assets, lower debt levels and lower advertising expenses. However, the regulatory factor has no significant role in firms’ AA. The findings of the study are helpful for managers, regulators and policymakers.
Originality/value
Analyzing the role of financial strength, corporate governance and regulatory influence on AA of acquiring firm is a rare study, especially in an emerging country such as Pakistan.