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1 – 10 of 44Sarmad Ali, Adalberto Rangone and Gregorio Martín-de Castro
This study aims to analyze the moderating role of debt financing in the relationship between intellectual capital (IC) and small and medium enterprise (SME) performance in…
Abstract
Purpose
This study aims to analyze the moderating role of debt financing in the relationship between intellectual capital (IC) and small and medium enterprise (SME) performance in high-tech and low-tech industries.
Design/methodology/approach
This longitudinal study uses a balanced panel sample of 7,293 (3,563 high-tech and 3,730 low-tech) SMEs in Southwestern European countries from 2013 to 2020. The data are analyzed using a fixed-effect model as baseline estimation, and a generalized method of moments estimation is used for robustness checks.
Findings
The results show strong positive effects of human capital (HC) and structural capital (SC) and a weak effect of capital employed (CE), on the performance of high-tech SMEs. Debt financing is negatively and significantly associated with SME performance, and the moderating effect of debt financing is more significant in low-tech industries. Specifically, debt financing accentuates (attenuates) the positive effect of HC (SC and CE) on the performance of low-tech SMEs.
Practical implications
This study offers a valuable framework for managers and policymakers when considering the role of debt financing in the IC components – SME performance relationship in distinctive industrial environments.
Originality/value
This study provides new insights into the close and complex relationships between IC components, debt financing and SME performance.
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Sarmad Ali, Hussain Muhammad and Stefania Migliori
This paper examines the moderating role of capital structure decisions in the relationship between research and development (R&D) investment and small and medium enterprises…
Abstract
Purpose
This paper examines the moderating role of capital structure decisions in the relationship between research and development (R&D) investment and small and medium enterprises (SMEs) performance.
Design/methodology/approach
Based on panel data of 1,357 European SMEs from 2014 to 2020, this study employs a generalized method of moments (GMM) regression to examine the R&D-performance link through the moderating role of capital structure.
Findings
The results show that R&D investment and equity financing positively and significantly influence SMEs performance. Debt financing, however, is negatively and significantly associated with SME performance. In addition, we show that capital structure choice significantly moderates the relationship between R&D investment and SME performance. Specifically, debt financing attenuates the positive impact of R&D investment on SMEs performance, whereas equity financing accentuates this relationship.
Practical implications
This study helps policymakers formulate appropriate policies to overcome the challenges of underinvestment in R&D projects to enhance SMEs performance.
Originality/value
Our findings provide new evidence on R&D-performance literature by refining the deeper understanding of the role of capital structure, which has previously been examined in partial and fragmented ways.
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Muhammad Farooq, Asad Afzal Humayon, Muhammad Imran Khan and Sarmad Ali
The purpose of this research is to examine the impact of corporate governance proxies by ownership structure on financial constraints for a sample of 215 non-financial Pakistan…
Abstract
Purpose
The purpose of this research is to examine the impact of corporate governance proxies by ownership structure on financial constraints for a sample of 215 non-financial Pakistan Stock Exchange (PSX) listed firms between 2010 and 2018.
Design/methodology/approach
The dynamic generalized method of moments (GMM) estimator is used to determine the influence of ownership structure on financial constraints. The ownership structure of sample enterprises is measured using seven variables: managerial, family, institutional, foreign, associated, presence of block holder, and concentrated ownership, while financial limitations are determined using the KZ Index. The WW Index is used to assess the robustness of the results. In addition, for robustness, we also used OLS and FE.
Findings
Based on the system GMM results, it was discovered that firm ownership structure has a significant impact on the likelihood of financial constraints. In the case of Pakistan, the results show that institutional ownership, foreign ownership, and the presence of a block holder in the ownership structure have a significant negative impact on financial constraints, whereas family ownership and ownership concentration have a significant positive impact. This finding remains true when financial constraints are measured using the WW Index.
Practical implications
The findings of the study provide business managers and investors with more information regarding the relationship between corporate governance quality and the degree of financial constraint in Pakistani firms. Furthermore, this study contributes new information from emerging nations like Pakistan to the existing literature, which will help regulatory bodies and policymakers build long-term corporate governance solutions to manage financial constraints. It is well established that improving the quality of corporate governance practices improves capital market efficiency and lowers the likelihood of financial constraints.
Originality/value
The study adds to the body of existing work on corporate governance and the possibility of financial constraints, with a focus on Pakistan. The findings show that when projecting company financial constraints, regulators should pay special attention to the quality of corporate governance, specifically ownership structure.
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Kritika Khanna, Jagwinder Singh and Sarbjit Singh Bedi
This study aims to build a comprehensive model for developing higher education institutes (HEIs) brand equity by examining the impact of HEIs intangible resources, brand…
Abstract
Purpose
This study aims to build a comprehensive model for developing higher education institutes (HEIs) brand equity by examining the impact of HEIs intangible resources, brand management aspects, attachment strength and student’s contemporary citizenship behavior (CCB).
Design/methodology/approach
Data were gathered through a self-administered questionnaire from Indian students and alumni (n = 703). The study examines the proposed comprehensive model through serial and multiple mediation analysis.
Findings
The study unfolded “service quality? brand image? attachment strength? word-of-mouth? brand equity” as the most significant path to develop HEI’s brand equity.
Research limitations/implications
This study pioneers an empirically validated mechanism for developing brand equity in HEIs, addressing gaps identified by previous studies and offering a theoretical framework that elucidates how HEIs can leverage intangible resources through strategic brand management to foster attachment and influence positive student behaviors, thereby contributing to the development of HEI brand equity.
Practical implications
HEIs need to understand that relying solely on tangible aspects leads to short-lived effects. To maintain a lasting competitive advantage, HEIs should focus on crafting a rich historical narrative, retaining talented faculty and staff and earning respect from the public to build a lasting reputation.
Originality/value
This study develops the mechanism for developing brand equity of HEIs using its valuable, rare and inimitable intangible resources. Along with the introduction of novel constructs like competence, heritage and word-of-mouth to existing study, the proposed conceptual model is premised on the theory of self-congruence, social-exchange theory and CCB.
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Muhammad Aamir Shaheen, Shoaib Aslam, Salman Mahmood, Mumtaz Ahmad and Sumaira Tabassum
The research examines how behavioral intentions, as a higher-order construct, indirectly affect financial inclusion through service trust, usage behavior and financial literacy in…
Abstract
Purpose
The research examines how behavioral intentions, as a higher-order construct, indirectly affect financial inclusion through service trust, usage behavior and financial literacy in mobile money adoption.
Design/methodology/approach
Following the positivist research philosophy, a cross-sectional study design was used to collect data through questionnaires comprised of scales adapted from prior studies. With a usable sample size of 340 respondents, this study employs partial least squares structural equation modeling to assess the model.
Findings
The study revealed the significant indirect role of behavioral intention on financial inclusion through use behavior, behavioral intentions on use behavior through service trust, and use behavior on financial inclusion through financial literacy. The role of behavioral intentions on financial inclusion through serial mediation of service trust, use behavior and financial literacy was also found to be significant.
Originality/value
This study's novelty resides in examining the indirect relationship between behavioral intentions and financial inclusion, specifically via the serial mediation of service trust, use behavior and financial literacy.
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Afia Khalid, Raheel Amir Awan, Rizwan Ali and Imran Sarmad
This study aims to examine the moderating effect of sustainability marketing on brand loyalty of brands that advertise their sustainable development agenda goals. The study…
Abstract
Purpose
This study aims to examine the moderating effect of sustainability marketing on brand loyalty of brands that advertise their sustainable development agenda goals. The study highlights the mediating effect of brand love having cognitive antecedents of brand authenticity, popularity and congruence with private and social self of the consumer.
Design/methodology/approach
A mall intercept survey was used to collect data from consumers who use brands that embrace sustainable marketing strategies. Only those brands were selected which are popular as well as advertise sustainable practices in their brand communication (mainstream and social media). The data was self-administered by trained research assistants, who gathered data from a sample of 350 respondents.
Findings
The findings revealed that the popularity and authenticity of a brand play an essential role in developing brand love and later influences brand loyalty behavior. A larger effect is seen on brand love when there is congruence of private and social self with the brand. The brand has even a stronger relationship with brand loyalty when moderated by sustainability marketing.
Research limitations/implications
Brand love has the potential for long-term influences, only if sustainability marketing is used as a backbone. Brand managers should target an authenticity-seeking segment of consumers, who once convinced can lead to repeat business and brand loyalty and reduce dissonance. As sustainability marketing provides multiple benefits, genuine branding strategies should be devised that amalgamate into a single message spun around sustainability concerns and connecting the ethos of authenticity, popularity and self-expression. Future research may take into consideration more categories than this study on clothing, and consumer goods, adopting a mixed-methods approach. Moreover, a range of potential antecedents of brand love can be determined along with potential outcomes when aligned with external efforts such as sustainability, corporate social responsibility and international investment.
Originality/value
To the best of the authors’ knowledge, this is the first study investigating the moderating role of sustainability marketing on the relationship between brand love and brand loyalty and the mediating role of brand love between brand authenticity, popularity, social/private-self-expression and brand loyalty. It is also the first study documenting how sustainability marketing reinforces the brand loyalty for popular brands in developing countries like Pakistan. This study fills a research gap as it expands the existing literature on sustainability marketing and brand love that is generally focused on brand dimensions and not the brand communications and thus has not reached similar results.
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Juhi Srivastava, Nishtha Malik, Deepa Sethi and Shalini Nath Tripathi
There is an emerging paradigm with reference to marketing communication, i.e. inclusive marketing communication (IMC). This calls for brands to be sincere with their customers and…
Abstract
Purpose
There is an emerging paradigm with reference to marketing communication, i.e. inclusive marketing communication (IMC). This calls for brands to be sincere with their customers and give due recognition and representation to underrepresented groups, communities and individuals. In this constantly evolving and globalized world, consumers have become more sensitive towards authentic portrayals of inclusivity and diversity by brands while choosing one brand over another.
Design/methodology/approach
A mixed method approach was used whereas in the first study, a quantitative method was used. Standardized questionnaire was used for collecting data through a time-lagged method. While the second study adopted the qualitative method. Semi-structured interviews were performed which lasted for 30–45 min for most of the participants.
Findings
It was found that IMC has a positive and noticeable effect on brand attitude (BA) and brand love (BL) when mediated by social identity (SI). While stigmatization was found to positively and significantly moderate the relationship between IMC and SI. Moreover, it was also found from both the studies that if a brand fails to strengthen the SI of an individual it doesn’t affect the BA as well as BL of customers.
Originality/value
Very few studies have incorporated a quantitative method of study while studying IMC. Furthermore, a collective study on different aspects of inclusivity like ethnicity, sexual orientation, disability, physical attractiveness, etc., has not been explored yet. Scattered studies on aspects like skin tone, body size, religion, etc., have been explored individually in prior studies.
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Aqsa Jaleel and Muhammad Sarmad
How leaders’ empowerment impacts followers' job performance in learning organizations seeks much attention. Under the lens of self-determination theory, this research examines the…
Abstract
Purpose
How leaders’ empowerment impacts followers' job performance in learning organizations seeks much attention. Under the lens of self-determination theory, this research examines the mediating role of work-related curiosity between empowering leadership and job-crafting behaviors. Furthermore, by applying trait activation theory, this study aims to examine the moderating role of gender egalitarianism in the relationship between empowering leadership and work-related curiosity among teachers.
Design/methodology/approach
A time-lagged data from 310 teachers was collected. The quantitative research method under the deductive approach and positivism research philosophy was applied. The data was analyzed through the SPSS and structured equation modeling technique under SMART-PLS.
Findings
The results show that empowering leadership is positively related to job crafting dimensions. Simultaneously, work-related curiosity mediates these predictive relations. Moreover, low gender egalitarianism moderates empowering leadership and work-related curiosity.
Originality/value
Investigating the direct and indirect effects of empowering leadership on the dimensions of job crafting is scarce, especially in learning organizations with a low gender egalitarian culture. By using the self-determination theory, this study analyzed work-related curiosity as a mediating path between empowering leadership and job crafting. The cultural circumstances under empowering leadership are important for work-related curiosity. Finally, the moderating role of gender egalitarianism is established between empowering leadership and work-related curiosity in the unique context of an underdeveloped country, Pakistan. In addition, this study provides important theoretical and managerial implications for learning organizations for needful job crafting behaviors.
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Mehwish Ali, Majdi Hassen and Sarmad Saeed Sheikh
This study investigates the impact of corporate social responsibility (CSR) on corporate innovation. We selected the listed nonfinancial firms of South Asian Economies. The sample…
Abstract
This study investigates the impact of corporate social responsibility (CSR) on corporate innovation. We selected the listed nonfinancial firms of South Asian Economies. The sample of the study comprised a total of 426 listed manufacturing firms of South Asian Countries for period spans 10 years from 2012 to 2021. In this study, descriptive statistics, multicollinearity diagnostic tests, correlation analysis and two-step dynamic panel system generalized method of moments (GMM) were applied to analyze the data. CSR measured with three proxies' social indicators, environmental indicators, and CSR composite index of social and environmental indicators. However, corporate innovation is captured with number of citations received in a year and number of patents filed in the year. Overall, findings of the study using all measures of CSR shows that CSR significantly and positively related with corporate innovation. Our results find support for CSR-innovation view with all measures of CSR. The findings suggest that the current study is helpful for managers, regulators, policymakers, and researchers. For managers, the study helps them to make the CSR and innovation decision. The policymakers should take appropriate innovative decision while considering factors such as CSR. This study can also be extended by considering this study for developed and emerging economies sample.
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Yiran Deng, Xianliang Wang and Dandan Li
The study aims to delve into the interactive relationships among brand authenticity, brand attachment, brand trust and brand loyalty using the ERC authenticity framework…
Abstract
Purpose
The study aims to delve into the interactive relationships among brand authenticity, brand attachment, brand trust and brand loyalty using the ERC authenticity framework, exploring the potential mechanisms and different configurations affecting brand loyalty through brand authenticity.
Design/methodology/approach
About 446 valid samples were collected through an online survey of Chinese consumers of international sports brands. Structural equation modeling (SEM) and fuzzy set qualitative comparative analysis (fsQCA) were employed to test the research hypotheses.
Findings
SEM results indicate significant positive correlations among brand true-to-ideal authenticity, true-to-fact authenticity and true-to-self authenticity. All dimensions of brand authenticity exert notable positive impacts on brand attachment, brand trust and brand loyalty. Brand true-to-ideal authenticity, true-to-fact authenticity and true-to-self authenticity not only directly influence consumer brand loyalty but also indirectly affect it through brand attachment and brand trust; fsQCA results reveal five heterogeneous configurations to predict brand loyalty.
Originality/value
This study not only uses SEM to validate the structural relationships among the three dimensions of brand authenticity and their linear relationships with brand attachment, brand trust and brand loyalty but also uses fsQCA to identify nonlinear relationships between concepts. It extends complexity theory to the research field of brand authenticity–brand loyalty. Furthermore, based on the research results, this study provides management suggestions for brand managers and marketers.
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