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Research suggests that innovation plays a key role in creating a competitive edge and business survival in highly competitive industries like retail. Despite the importance of innovation in retail establishments, very limited efforts have been made so far to study how innovation influences consumer behavior in retail establishments. This paper aims to identify the impact of relationship benefits (i.e. confidence, social and special treatment benefits) on consumer’s loyalty with the retail store and examine the moderating effect of retailer innovation in these relationships.

To conduct this study, a sample comprised of 400 consumers of four retail sectors (i.e. household, electronics, textile and food) was chosen. The data were analyzed through partial least squares structural equation modeling (PLS-SEM) technique.

The findings of this research suggest a significant positive influence of confidence and special treatment benefits on consumer loyalty and that retail innovation moderates the link between relationship benefits and consumer loyalty.

This research contributes to the existing literature in the domain of retail customer loyalty by empirically testing the under-studied phenomenon of retail innovation with the help of contingency theory.

The learning objectives of this case study based on Bloom’s Taxonomy (Bloom et al., 1956) will be to analyze the procurement process and identify the parameters for the procurement of services; evaluate the potential risks and challenges associated with relying on a single vendor for critical services; apply the four-stage model of crisis management to the breach of contract by Fresh Bites Catering; examine how adopting sustainable procurement practices, such as diversifying suppliers and establishing contingency plans, can mitigate these risks and ensure business continuity; and analyze the dynamics, roles and potential conflicts between the principal (Multan University) and agent (Fresh Bites Catering) using the principal–agent theory (PAT).

This case study explores the challenges and implications of sustainable procurement within the context of Multan University’s cafeteria services. It delves into the sudden contract breach by Fresh Bites Catering, a long-time partner responsible for providing central cafeteria services, and examines the resulting operational crisis faced by the university. This case study highlights key procurement processes, including vendor selection, contract management and adherence to sustainability principles, as well as the risks associated with single-vendor dependency. By applying frameworks such as the PAT, the four-stage model of crisis management and sustainable procurement practices, this case study encourages students to critically assess the failures in contract enforcement, risk mitigation and service continuity. Additionally, it stimulates discussion on the benefits of robust risk management strategies, multi-vendor approaches and clear contract terms to prevent future disruptions in essential services. This case study serves as a valuable tool for understanding how procurement strategies influence organizational performance and long-term sustainability in higher education institutions.

This is a decision-making case and can be taught in Master of Business Administration courses in purchase and supply management and operations management. This case study is mainly written to make students understand and analyze the potential risks of a single vendor, the benefits of diversifying suppliers and sustainable procurement.

Teaching notes are available for educators only.

CSS 9: Operations and logistics.

The purpose of this paper is to examine how corporate governance instruments impact firm value in the context of Pakistan. This paper considers state- and non-state-owned enterprises and examines whether the influence of corporate governance on firm value varies across firms having different nature of ownership.

This study opts for an unbalanced sample of state- and non-state-owned enterprises for the period 2010-2014. Panel data regression is adopted for estimation of main results. The suitable model, i.e. fixed and random effect model, is selected using Hausman specification test.

The notable findings show that board independence has a significant and positive relationship with firm value only for state-owned companies. Furthermore, the results show that market capitalization and return on assets have a significant and positive association with firm value for both state- and non-state-owned enterprises. All other variables are found insignificant for both state- and non-state-owned companies, but the results are consistent with those reported in previous studies.

The findings of the study suggest that fair induction of independent directors, appropriate board size and cost-benefit analysis to conduct frequent meetings can help corporations to improve their performance.

This study is adding to the current literature by providing new insights and shows that the impact of corporate governance on firm value varies across firms of different types of ownership, i.e. state- and non-state-owned enterprises.

Recent literature has shifted to examining whether exchange rate volatility symmetrically or asymmetrically affects the trade flows. This study aims to extend the existing literature by examining the effects of extremely large to extremely small changes in exchange rate volatility series on the US imports from Brazil, India, Mexico and South Africa.

For examining the effects of extreme changes, multiple threshold nonlinear autoregressive distributed lag (MTNARDL) model is used and the exchange rate volatility series is divided into quintiles and deciles. It helps to examine the effects of each quintile/decile of exchange rate volatility series on the US imports.

Findings indicate that the effects of extremely large changes in the exchange rate volatility series significantly differ from the effects of extremely small changes in the exchange rate volatility series on the US imports.

The findings of this study are very important. These findings help to consider the effect of extreme changes before devising policies related to trade flows.

This study mainly focuses on US imports from Brazil, India, Mexico and South Africa. In addition, this study extends the existing literature by using a novel methodology called MTNARDL model.

This study examines the short-run and long-run impact of macroeconomic variables such as industrial production index, inflation, exchange rate, interest rate, foreign direct investment and trade balance, on KSE 100 index and sectorial stock indices under bearish, bullish and normal states of the stock market prices. Moreover, we take into account the effect of three crises observed from 2005 to 2009.

This study uses quantile autoregressive distributed lag (QARDL) model for examining the short-run and long-run effect across various quantiles of the dependent variables and compare its' results standard autoregressive distributed lag (ARDL) model.

ARDL estimates indicate that, in the long-run, industrial production index, trade balance and foreign direct investment significantly affect stock prices. These findings remain same when three crises have been taken into consideration. In addition, estimates from QARDL model indicate that, in the short-run, the effect of exchange rate, interest rate, consumer price index and foreign direct investment, varies across bearish, bullish and normal states of the overall stock prices. Moreover, the short-run findings for Auto Assembler, Cement, Commercial Banks sector are consistent with overall stock indices, whereas other sectors, such as, Oil and Gas and Power Generation and distribution are asymmetrically affected by all macroeconomic variables. In the long-run, the effect of all macro-variables varies across different states of the stock markets except industrial production index for Auto Assembler sector, Oil and Gas sector and composite index of KSE 100 index.

We take into account the effect of three crises observed from 2005 to 2009 and also examine the macroeconomic effect across bullish, bearish and normal states of the sectorial stock indices and composite index of Pakistan stock exchange. Finally, we use novel approach, called QARDL model, which has several advantages over other techniques.

The purpose of this study is to investigate the impact of COVID-19 on conventional and Islamic stocks by using the data spanning from February 25, 2020, to February 3, 2021, and employing a panel regression approach.

In this study a panel regression approach has been used.

The study finds a negative association between COVID-19 and stock (both Islamic and conventional). After splitting the data into 1st and 2nd waves, the relationship between COVID-19 and stock (both Islamic and conventional) remains the same (negative) in the case of the 1st wave. In contrast, in the case of the 2nd wave, the relationship turned out to be positive. During both waves of the pandemic, the magnitude of the effect is found to be higher for conventional stocks. Additionally, the study also analyzes the aggregate influence of COVID-19 on different sectors and finds that commercial banks, oil and gas exploration and marketing companies are the most influenced sectors. At the same time, automobiles and pharma are the least affected sectors.

The study suggests that markets start gaining momentum to reach their prepandemic level after absorbing the initial shock (emergence of a pandemic). The study also provides thorough insights for market regulators and policymakers by implying the dynamic relations between markets (conventional and Islamic) and financial crisis, which would allow them more effective control of crisis in future endeavors.

This is one of the first studies to investigate the impact of COVID-19 on both conventional and Islamic stocks, especially in the context of Pakistan.

The purpose of this paper is to conceptualize halal marketing from the marketing strategy perspective, particularly segmentation, targeting and positioning (STP).

A literature review is carried out for the study. Building on the STP framework, an attempt is made to conceptualize halal marketing from the marketing strategy perspective and provide its implications.

The findings suggest that halal marketing has emerged and is used as a segmentation strategy. Furthermore, halal marketing can be more effectively used as a positioning strategy.

The paper presents the opportunity to use halal marketing by combining the Islamic principles for halal with the marketing positioning strategy. In this way, halal marketing can also be used to attract consumers from other religious segments.

The paper presents a marketing strategy perspective of segmentation and targeting. Furthermore, the paper proposes an approach for using halal as a positioning strategy.

The purpose of this paper is to investigate the relationship between subjective norms (SNs), attitude (ATT) and perceived behavioral control (PBC) in predicting intention to choose halal-labeled products. Additionally, this research is an attempt to address the moderating influence of religiosity (RG) on relationship between theory of planned behavior constructs and halal purchase intention.

The data were collected through a survey. To find the factors that affect purchase intentions of Pakistani consumers regarding halal purchase intention partial least squares (PLS) path modeling has been used in the study.

The results state that TBP constructs, i.e. (ATT and PBC) have significant and positive and influence over halal purchase intentions. However, SN did not have positive and significant influence over halal purchase intention. Furthermore, no moderation effect of RG could be found in this study. Findings suggest that RG has not moderated the relationship between TBP constructs and halal purchase intention.

This study has incorporated three antecedents of TBP. However, extended theory of planned behavior can also be tested to predict influence on consumer halal purchase intentions in Pakistan. Moreover, other variables, e.g. country of origin can also be added to examine the moderation effect on TBP constructs and halal purchase intention.

This research identifies the rationale behind internally perceived factors that influence purchasing halal product, it further adds to an understanding of content specific (halal products) purchase intention. The practical implications include the possible approaches that managers need to address while promoting Halal labels and this will influence marketing strategies in general and communications specifically.

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Halal marketeers need to consider the segmentation, targeting, and positioning framework when creating marketing strategies, as well as looking to broaden the appeal and customer base for Halal products and services.

The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

This study investigates the asymmetric effects of exchange rate and investors' sentiments simultaneously on stock market performance in the United States context. In addition, we have also considered the potential effect of the global financial crisis of 2008 on this nexus.

We have employed the NARDL (nonlinear autoregressive distributed lag) model on monthly data ranging from January-1999 to December-2018 to investigate the asymmetric (short- and long-run) effects of exchange rate and investors' sentiments on stock market performance. We have also broken down the data into two segments, pre and post-crisis periods to capture the effect of the global financial crisis of 2008.

The findings of the study reveal that exchange rate and investors' sentiments simultaneously affect stock market performance and omitting any of these variables can produce misleading results. Results also show that the effect of sentiments is stronger than the exchange rate. There is significant evidence of asymmetric short-run and long-run effects of both explanatory variables. Moreover, we have found different outcomes for pre and post-crisis periods. Specifically, the impact of macroeconomic variables on the stock market has been substantiated in the post-crisis period.

Several studies are available which separately evidence the effects of investors' sentiments and exchange rate on performance of the stock market but they can suffer from the problem of omitted variable bias. This study is conducted to test the said effect simultaneously in a single model. Moreover, this study is considering short-run and long-run asymmetry in analyzing the effects of explanatory variables along with the inclusion of the global financial crisis of 2008.