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Article
Publication date: 23 May 2023

Saif Ullah, Mehwish Jabeen, Muhammad Farooq and Asad Afzal Hamayun

The relationship between idiosyncratic risk and stock return has been debated for decades; this study reexamined this relationship in the Pakistani stock market by using the…

Abstract

Purpose

The relationship between idiosyncratic risk and stock return has been debated for decades; this study reexamined this relationship in the Pakistani stock market by using the quantile regression approach along with the prospect theory.

Design/methodology/approach

The present study is quantitative, and secondary data obtained from an emerging market are used. The quantile regression method allows the estimates of idiosyncratic risk to vary across the entire distribution of stock returns, i.e. the dependent variable. In this study, the standard deviation of regression residuals from the Fama and French three-factor model was used to measure idiosyncratic risk. Convenience sampling is employed; the sample consists of 82 firms listed on the KSE-100 index, with 820 annual observations for the ten years from 2011 to 2020. After computing results by using quantile regression, the study's findings, ordinary least squares (OLS) and least sum of absolute deviation (LAD) regression techniques are also compared.

Findings

The quantile regression estimation results indicate that idiosyncratic risk is positively correlated with stock returns and that this relationship is contingent on whether prices are rising or falling. Consistent with the prospect theory, the finding suggests that stock investors tend to avoid risk when they anticipate a loss but are more willing to take risks when they anticipate a profit. The results of the OLS and LAD regressions indicate that the method typically employed in previous studies does not adequately describe the relationship between idiosyncratic risk and stock return at extreme points or across the entire distribution of stock return.

Originality/value

These empirical findings shed new light on the relationship between idiosyncratic risk and stock return in Pakistani stock market literature.

Details

Journal of Economic and Administrative Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2054-6238

Keywords

Article
Publication date: 24 September 2024

Mehwish Rasool, Muhammad Hamid Murtza, Muhammad Imran Rasheed, Aliana Man Wai Leong, Fevzi Okumus and Jingyi Bai

This study aims to investigate the nexus between information technology (IT) competency, supply chain agility and supply chain performance in the hospitality industry. The authors…

Abstract

Purpose

This study aims to investigate the nexus between information technology (IT) competency, supply chain agility and supply chain performance in the hospitality industry. The authors examine the association of IT competency and supply chain performance through supply chain agility while considering the boundary condition role of risk management.

Design/methodology/approach

The authors collected data via a questionnaire from 302 full-time hotel and restaurant managers in Pakistan.

Findings

Study results reveal a positive association between IT competency and supply chain performance while supply chain agility mediates this relationship. In addition, risk management is identified as an important boundary condition that moderates the direct and indirect relationships between IT competency and supply chain performance.

Originality/value

Study results reveal an important association between IT competency and supply chain agility contributing to the scholarly discussion on supply chain issues in the hospitality sector.

研究目的

本研究旨在探讨信息技术能力(IT能力)对供应链绩效的影响, 并分析风险管理导向和供应链敏捷性在这一关系中的调节作用。

研究方法

本研究采用结构方程模型分析, 通过问卷调查收集数据, 以评估IT能力、风险管理导向、供应链敏捷性和供应链绩效之间的关系。

研究发现

研究发现, IT能力显著提升供应链绩效。风险管理导向和供应链敏捷性在IT能力与供应链绩效之间起到正向调节作用, 增强了IT能力对供应链绩效的积极影响。

研究创新

本研究扩展了关于信息技术与供应链管理之间关系的理论, 强调了风险管理导向和供应链敏捷性的重要性。研究结果为企业在提升供应链绩效时如何利用IT能力提供了实用指导。

Details

Journal of Hospitality and Tourism Technology, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1757-9880

Keywords

Article
Publication date: 31 May 2024

Ramiz Ur Rehman, Muhammad Ishfaq Ahmad, Jaroslav Belas, Enrico Battisti and Gabriele Santoro

The study aims to examine the role of green learning orientation, green knowledge acquisition and green knowledge management in fostering corporate environmental performance of…

Abstract

Purpose

The study aims to examine the role of green learning orientation, green knowledge acquisition and green knowledge management in fostering corporate environmental performance of small and medium-sized enterprises (SMEs) in China. In addition, this research assesses the moderating role of chief executive officer (CEO) gender between green knowledge management and corporate environmental performance. Finally, this study examines the sequential mediating role of green knowledge acquisition and green knowledge management.

Design/methodology/approach

The study collected the data of 300 SMEs’ CEOs taken from five different provinces in China. The study used a partial least squares regression-based structural equation modelling technique.

Findings

The findings revealed that green learning orientation plays an important role in increasing SMEs’ corporate environmental performance. The results showed that green knowledge acquisition and green knowledge management serially and completely mediate the relationship between green learning orientation and corporate environmental performance.

Originality/value

To the best of the authors’ knowledge, this is the first study addressing the sequence of knowledge orientation, acquisition, management and results in terms of corporate environmental performance. Meanwhile, this study is the first to examine the indirect role of CEO gender on the relationship between green knowledge management and corporate environmental performance. As decisions are taken by the top management and CEO, especially in the case of SMEs, the role of top management and how well top management uses the knowledge acquired by the organization matters significantly.

Details

Journal of Knowledge Management, vol. 28 no. 7
Type: Research Article
ISSN: 1367-3270

Keywords

Article
Publication date: 4 September 2023

Hisham Idrees, Jin Xu and Ny Avotra Andrianarivo Andriandafiarisoa Ralison

The current study aims to ascertain how green entrepreneurial orientation (GEO) affects green innovation performance (GIP) through the mediating mechanism of the knowledge…

Abstract

Purpose

The current study aims to ascertain how green entrepreneurial orientation (GEO) affects green innovation performance (GIP) through the mediating mechanism of the knowledge creation process (KCP) and whether or not these associations can be strengthened or hampered by the moderating impacts of resources orchestration capabilities (ROC).

Design/methodology/approach

The research used data from managers at various levels in 154 manufacturing enterprises in Pakistan to evaluate the relationships among the constructs using hierarchical regression analysis and moderated mediation approach.

Findings

The study indicates that GEO substantially impacts firms' GIP. GEO and GIP's relationship is partially mediated by two KCP dimensions: knowledge integration (KI) and knowledge exchange (KE). Furthermore, ROC amplifies not only the effects of GEO on KE but also the effects of KE on GIP. The moderated mediation results demonstrate that KE has a greater mediating influence on GEO and GIP when ROC is higher.

Research limitations/implications

To better understand GEO's advantages and significance, future studies should look into the possible moderating mechanisms of environmental, organizational culture/green capability in the association between GEO, KCP and GIP.

Practical implications

The research helps expand the field of green entrepreneurship and GIP literature by providing a deeper knowledge of GEO and offering insight into how to boost GI in manufacturing firms.

Originality/value

This research helps fill in knowledge gaps in the field by delving further into the mechanisms by which GEO promotes GIP, both directly and indirectly, via the mediating role of KCP and the moderating impacts of ROC.

Details

European Journal of Innovation Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1460-1060

Keywords

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