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Article
Publication date: 14 August 2021

Shoukat Ali, Ramiz Ur Rehman, Bushra Sarwar, Ayesha Shoukat and Muhammad Farooq

The purpose of this paper is to empirically investigate the impact of board financial expertise on the shareholding of foreign institutional investors in an emerging equity market…

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Abstract

Purpose

The purpose of this paper is to empirically investigate the impact of board financial expertise on the shareholding of foreign institutional investors in an emerging equity market of China and to explore whether ownership concentration moderates the relationship between board financial expertise and foreign institutional investment.

Design/methodology/approach

To test the hypothesized relationships, this study uses panel data regression models, i.e. static (fixed effect and random effect) and dynamic (two-step generalized methods of moments) models. Further, to control the possible endogeniety issue, this study uses two instrumental variables, namely, board size and industry average financial expertise of board to proxy board financial expertise. This study covers a period from 2006 to 2015 for 169 listed Chinese firms.

Findings

The results revealed that foreign institutional investors positively perceived board financial expertise and holds more shareholdings with the increasing level of financial experts at boards of directors. Moreover, ownership concentration positively moderated this relationship. It means that in highly concentrated firms, the board financial expertise conveys a stronger signal to foreign institutional investors that firms can manage financial resources rationally by controlling negative effects of ownership concentration. Further, the robustness model also confirmed the relationship between board financial expertise and foreign institutional shareholdings.

Originality/value

To the best of authors’ knowledge, this is the first study to investigate board-level financial expertise as a determinant of foreign institutional ownership. Further, no previous study has used ownership concentration as a contextual variable on the relationship between board financial expertise and foreign institutional investment.

Details

Review of International Business and Strategy, vol. 32 no. 3
Type: Research Article
ISSN: 2059-6014

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Article
Publication date: 6 March 2023

Ismail Khan, Iftikhar Khan, Ikram Ullah Khan, Shahida Suleman and Shoukat Ali

This study aims to investigate the impact of extensive board diversity on firm performance from the perspective of resource-based view (RBV) theory in the context of Pakistan.

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Abstract

Purpose

This study aims to investigate the impact of extensive board diversity on firm performance from the perspective of resource-based view (RBV) theory in the context of Pakistan.

Design/methodology/approach

The analyses are made using a panel random-effects model and generalized method of moment (GMM) across 188 non-financial firms listed in the Pakistan Stock Exchange (PSX) over the period of 2009–2020. The robustness of findings is checked through alternative measurements of the variables and alternative estimation techniques.

Findings

The results show that board members' nationality, ethnicity and educational level diversities are significantly positively related to firm performance. In contrast, age and educational background diversities negatively affect firm performance. However, gender and tenure diversities have an insignificant relationship with firm performance.

Research limitations/implications

This study is conducted in the context of Pakistani firms; thus, the findings may not be generalizable to other economies because different economies have different institutional settings and governance structures.

Practical implications

The policy-makers should encourage the inclusion of board members' nationality, ethnicity and educational level diversities having relevant educational backgrounds to improve firms' competitive performance. The suggested structure of the corporate board may improve firm performance by attracting multiple stakeholders and fulfilling their expectations.

Social implications

The appointment of a director should be based on merit rather than on political connections or personnel relationships to improve social welfare and avoid their negative impact on firm competitive performance.

Originality/value

To the best of the authors' knowledge, this is the first study that investigates the impact of board diversity on firm accounting-based performance and market-based performance in the emerging economy of Pakistan. This study uses RBV theory to provide a unique corporate governance structure based on board diversity, particularly in Pakistan.

Details

International Journal of Productivity and Performance Management, vol. 73 no. 3
Type: Research Article
ISSN: 1741-0401

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Article
Publication date: 15 April 2022

Muhammad Asghar Ali, Ding Hooi Ting, Ahmad Shahrul Nizam Isha, Muhammad Ahmad-Ur-Rehman and Shoukat Ali

The purpose of this study/paper is first to determine the impact of perceived recovery justice (PRJ) (as a second-order construct) on recovery satisfaction and repurchase…

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Abstract

Purpose

The purpose of this study/paper is first to determine the impact of perceived recovery justice (PRJ) (as a second-order construct) on recovery satisfaction and repurchase intentions; secondly, to investigate the mediating impact of customer affection and recovery satisfaction (on the relationship between PRJ and repurchase intentions and satisfaction and repurchase intentions, respectively); and thirdly, to examine the moderating effect of gender on the relationships between PRJ–recovery satisfaction–repurchase intentions.

Design/methodology/approach

The authors used a self-administrated survey technique for data collection. Afterwards, partial least square structural equation modelling was used to evaluate the data from 300 respondents (the automotive insurance industry in Punjab, Pakistan).

Findings

The findings show that PRJ, recovery satisfaction and customer affection positively predict repurchase intentions. PRJ also indirectly predicts repurchase intentions through the mediating effect of recovery satisfaction. Gender has a contingent effect on the PRJ–customer satisfaction–repurchase intentions relationship, such that the effect is higher for females than males. These findings have important theoretical and practical implications. To counter service failure, this study helps to draft effective strategies and policies for the insurance industry to make customers loyal patrons.

Practical implications

These findings have important theoretical and practical implications. To counter service failure, this study helps to draft effective strategies and policies for the insurance industry to make customers loyal patrons.

Originality/value

This study also tested a novel relationship, in that the authors used customer affection as a mediating factor between the satisfaction and repurchase intentions relationship. Moreover, the authors also tested the moderating role of gender in PRJ–recovery satisfaction–repurchase intentions associations.

Details

Journal of Asia Business Studies, vol. 17 no. 2
Type: Research Article
ISSN: 1558-7894

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Article
Publication date: 17 August 2021

Muhammad Farooq, Amna Noor and Shoukat Ali

The purpose of this research is to look into the governance–performance relationship in the context of critical firm characteristics, such as firm size.

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Abstract

Purpose

The purpose of this research is to look into the governance–performance relationship in the context of critical firm characteristics, such as firm size.

Design/methodology/approach

Based on total assets, sample firms were classified as small or large. The governance index, which is based on 29 governance provisions covering the audit committee, board committee, ownership and compensation structure of the respective firm, measures governance quality among sample firms. A higher governance index indicates a higher level of governance quality and vice versa. Accounting and market value measures are used to determine firm profitability. The authors used the two-stage least square (2SLS) method of estimation of the model to eliminate the simultaneous equation bias.

Findings

Corporate governance (CG) appears to have a positive impact on accounting return and market indices (Tobin’s Q), but it has little impact on return on equity. In terms of firm size, larger companies profited more from better governance implementation than smaller firms that lacked these principles, thus improving CG. The findings indicate that small businesses should improve their governance mechanisms to reap the benefits of CG in terms of increased profitability.

Research limitations/implications

There are certain drawbacks to this research. First, the authors omitted qualitative aspects of CG from the CG index, such as the board’s decision-making process, directors’ perceptions of the board’s position and directors’ age and qualifications. Such a qualitative component will improve the governance index in the future while building the governance index. Second, as the current study only looks at the nonfinancial sector, caution should be exercised before applying the findings to the entire population.

Practical implications

The findings show that companies that follow good governance standards have better accounting and market efficiency than those that do not. As a result, good governance practices can help firms in developing countries improve their performance. Academic researchers, regulators, investors, lenders and practitioners can find the findings useful in establishing a true relationship between firm performance and CG practices in Pakistan.

Originality/value

The relationship between governance and profitability in the context of firm size is examined in this research. Firms with varying resources and ability to implement CG codes have varying effects on profitability. To the authors’ knowledge, there was a gap in the literature that addressed this topic in the local context.

Details

Corporate Governance: The International Journal of Business in Society, vol. 22 no. 1
Type: Research Article
ISSN: 1472-0701

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Article
Publication date: 9 October 2024

Muhammad Khalid Anser, Muhammad Naeem, Shoukat Ali, Wang Huizhen and Sumair Farooq

The purpose of this research is to support the green movement and improve corporate performance by focusing on green intellectual capital and its various components (e.g. green…

137

Abstract

Purpose

The purpose of this research is to support the green movement and improve corporate performance by focusing on green intellectual capital and its various components (e.g. green human capital, green structural capital and green relational capital). Furthermore, this study looks into the impact of business reputation in mediating the link between green intellectual capital qualities and business performance.

Design/methodology/approach

To obtain data from the target population, this study employed quantitative techniques and a survey approach for data collection from respondents (managers and employees) of firms. The final sample size was 255.

Findings

According to structural equation modeling green human capital, green structural capital and green relational capital all have a positive and statistically significant impact on organizational performance. Furthermore, the study shows that a company’s reputation plays an important role in mediating the relationship between the green intellectual capital component and business performance. These findings are confirmed by the natural resource-based perspective theory. This shows that developing green intellectual capital and promoting a green environment increases a company’s reputation among stakeholders, which promotes organizational performance.

Research limitations/implications

The study’s findings will help policymakers and administrators better understand the role of green intellectual capital in business reputation and performance. Based on empirical data, the study would contribute to the management, environmental science and performance literature.

Originality/value

To the best of the researcher's knowledge, this is the first study to apply the natural resource-based view theory and to consider corporate reputation as a mediator between green intellectual capital and business success.

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Article
Publication date: 11 April 2023

Shoukat Ali, Ramiz ur Rehman, Shoaib Aslam, Ismail Khan and Ghulam Murtaza

This paper empirically investigates the impact of board diversity in terms of demographic and cognitive dimensions on financial distress likelihood in an emerging Chinese market…

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Abstract

Purpose

This paper empirically investigates the impact of board diversity in terms of demographic and cognitive dimensions on financial distress likelihood in an emerging Chinese market to explore whether the Chief Executive Officers' (CEOs) power moderates the relationship between board diversity and the probability of financial distress.

Design/methodology/approach

To test the hypothesized relationships, demographic diversity through gender, age and nationality, and cognitive diversity through education, expertise and tenure, are taken as independent variables to investigate their impact on the probability of financial distress measured by the Altman China Z score. Data is collected for 13,740 firm-year observations from 2009 to 2018. This study employs panel data regression under fixed effect assumptions. Further, to control the possible endogeneity issue, this study uses a two-step System Generalized Methods of Moments (GMM) model as a robust check.

Findings

The results reveal that board diversity is positively associated with financial distress Z score, suggesting that diverse boards are helpful in reducing the likelihood of financial distress. Moreover, CEO power positively moderates this relationship. It means that board diversity, in the presence of powerful CEOs, is more effective in reducing financial distress likelihood by controlling the wrong financial decisions taken by top executives to reap personal benefits. Further, the robustness model confirms the relationship between board diversity and the probability of financial distress.

Originality/value

To the best of researchers' knowledge, this is one of the earliest studies to investigate board diversity by constructing demographic and cognitive board diversity indexes as a determinant of financial distress likelihood in China. Further, researchers found no study in the literature using CEO power as a contextual variable on the relationship between board diversity and financial distress.

Details

Management Decision, vol. 61 no. 6
Type: Research Article
ISSN: 0025-1747

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Case study
Publication date: 21 March 2022

Saad Tahir, Asher Ramish and Talha Mehmood

This case study aims to be taught at an MBA level. Students who are majoring in the supply chain would benefit the most from this case study. This case study has elements of…

Abstract

Learning outcomes

This case study aims to be taught at an MBA level. Students who are majoring in the supply chain would benefit the most from this case study. This case study has elements of logistics management, supply chain management, supply chain strategies, warehouse and logistics and responsible supply chain. The learning outcome of this case study could be seen if the students identify the gaps in the real market setting and come up with strategies that would connect and/or fill the areas missing. Teaching objective 1: students should be able to identify unstable demand scenarios and learn how demand collaboration could be implemented in that setting. Teaching objective 2: students should identify how a transparent and interconnected supply chain, both upstream and downstream, can be created. Teaching objective 3: students should be able to understand the role of a responsible supply chain and to define the role and responsibility of each party. Teaching objective 4: students should be able to learn the dynamics of safety stocks, reorder points and incorporate that in warehouse management decisions.

Case overview/synopsis

Based in Lahore, Pakistan, Total Technologies (Pvt.) Ltd is a company that supplies medical equipment and provides solutions in the health-care industry. This case explores the supply chain issues faced by Tallat Mehmood, who is the Managing Director of the company, during the third wave of the COVID-19 pandemic in April 2021. Oxygen cylinders have become the need of the hour as more and more patients need oxygen. The supply of medical gases across Pakistan has become a logistical issue, causing hospital reserves to be drained without timely replenishment. Increasing the number of beds in hospitals, with limited oxygen outlets, has increased the demand for oxygen cylinders. Operating under unstable demand and not being able to meet it has caused Tallat to realize that the company is out of its comfort zone and is not responding well to the environment. The company needs to redesign the supply chain as well as collaborate with the supplier and buyer to provide better levels of service.

Complexity academic level

Masters level supply chain courses.

Supplementary materials

Teaching Notes are available for educators only.

Subject code

CSS 9: Operations and logistics.

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Article
Publication date: 18 November 2021

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

56

Abstract

Purpose

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

Design/methodology/approach

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

Findings

Ownership concentration can make foreign institutional investors hesitant about investing in the firm. However, board financial expertise acts as a reassuring presence that counters information asymmetry and enables better informed investment decision-making.

Originality/value

The briefing saves busy executives 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.

Details

Strategic Direction, vol. 37 no. 12
Type: Research Article
ISSN: 0258-0543

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Book part
Publication date: 2 October 2024

Nivedita Mehta, Sapna Arora and Disha Gulia

This study attempts to recognize obstacles and barriers to financial inclusion in the agriculture sector, propose a framework based on the inter-contextual link between the…

Abstract

This study attempts to recognize obstacles and barriers to financial inclusion in the agriculture sector, propose a framework based on the inter-contextual link between the barriers and understand the financial exclusion in the agriculture sector at the grassroots level. Previously published research articles were used to identify the barriers to financial inclusion, followed by informal interviews and collaborative discussions with the local farmers of the Sonipat district of Haryana and expert interviews using a structured questionnaire. TISM and MICMAC analysis are used to decern the nature of the relationship among the barriers discovered. The authors find that inadequate financial literacy, a shortage of financial awareness and the reluctance of various financial institutions are significant linkage barriers to strong driving and dependence power. High transaction costs and poor infrastructural support are the independent barriers. The paper identifies these new barriers to financial inclusion in the Indian agriculture sector and the framework depicting financial exclusion in India. This paper only gives a framework of barriers and does not quantify the effect of any relationship identified, but strongly emphasizes granting the Indian agriculture sector broad and simple financial access to advance and strengthen the nation's sustainable, inclusive economic growth.

Details

Resilient Businesses for Sustainability
Type: Book
ISBN: 978-1-83797-803-8

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Article
Publication date: 19 September 2024

Muhammad Haroon Shoukat, Islam Elgammal, Mukaram Ali Khan and Kareem M. Selem

Underpinning social identity theory (SIT) and service-dominant logic (SDL), the current paper seeks to explore the effect of self-presentation on online brand advocacy (OBA)…

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Abstract

Purpose

Underpinning social identity theory (SIT) and service-dominant logic (SDL), the current paper seeks to explore the effect of self-presentation on online brand advocacy (OBA). Furthermore, this paper investigates the mediating role of hedonic value and the moderating role of customer interaction with e-commerce websites (i.e. Amazon, Walmart and eBay).

Design/methodology/approach

Data were collected from customers of three e-commerce platforms (i.e. Walmart, Amazon and eBay) using a structured questionnaire – multi-group analysis applied on SmartPLS 4.4.

Findings

Self-presentation has a positive role in increasing hedonic value and its impact on OBA. The moderating effect of customer interaction on these relationships is also investigated and found to be significant.

Social implications

Our findings underscore the significance of fostering inclusive online communities and favorable online settings. Existing findings are consistent with overarching objectives of digital empowerment and enhanced online interaction quality. This paper contributes to harmonious and collaborative digital societies by encouraging personalized experiences that foster a sense of belonging among diverse customers.

Originality/value

This paper adds to the existing body of knowledge by comparing customer behavior on three major e-commerce platforms, going beyond the traditional focus on a single platform. Drawing on SIT and SDL, this paper provides a distinct nomological framework for OBA that unifies disparate constructs, filling theoretical gaps in our understanding of online customer behavior.

Details

Marketing Intelligence & Planning, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0263-4503

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