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Article
Publication date: 3 April 2018

Reetesh K. Singh and Simple Sethi Arora

The purpose of this paper is to study the adoption of balanced scorecard (ABSC) as performance management system (PMS). It also proposes a framework for empirically validating the…

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Abstract

Purpose

The purpose of this paper is to study the adoption of balanced scorecard (ABSC) as performance management system (PMS). It also proposes a framework for empirically validating the antecedents and consequences of the ABSC as PMS.

Design/methodology/approach

Through the extensive review of BSC literature, the antecedents and consequences factors of BSC adoption as PMS are explored. A conceptual model is derived which hypothesises the relationship between the antecedents and consequences of the ABSC. The data collected by surveying perception of 128 bank employees is empirically tested. Confirmatory factor analysis is used to test the validity of the proposed measurement model, and hypothesised relationships are tested using structural equation modelling.

Findings

The findings confirmed the hypothesised conceptual model. They indicate that top management involvement and interdepartmental communication are the two prime antecedent factors which significantly lead to ABSC as PMS. In addition to this, the findings validate a strong causal relationship between ABSC and three consequence factors, namely, employees’ behaviour, organisational capabilities and perceived performance.

Research limitations/implications

The current study broadens the understanding of the notion of BSC as PMS in a considerable manner. It overcomes the inadequacy of the previous studies which failed to explore the antecedents and consequences of ABSC in a comprehensive way. The studies’ key limitation is that it is based on the perception of employees which can be overcome by using multiple methods to collect data in future studies.

Originality/value

The current study makes a significant contribution to the BSC literature. It is a first of its kind study to provide empirical validation to the conceptual model of antecedents and consequences of the ABSC as PMS. The research finding offers key implications for both researchers and practitioners.

Details

Benchmarking: An International Journal, vol. 25 no. 3
Type: Research Article
ISSN: 1463-5771

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Publication date: 14 May 2018

D. Kirk Davidson, Kanji Tanimoto, Laura Gyung Jun, Shallini Taneja, Pawan K. Taneja and Juelin Yin

The origins of corporate social responsibility (CSR) have been widely attributed to the work of scholars, and business managers as well, in North America and Western Europe…

Abstract

The origins of corporate social responsibility (CSR) have been widely attributed to the work of scholars, and business managers as well, in North America and Western Europe. Inevitably, however, as the economic interaction of individual firms and entire nations has grown over the past several decades — call it globalization — so too has the concept and the practice of CSR spread throughout the world. It is certainly time to explore how CSR is being incorporated into the practice of business management in other regions and other countries. Therefore, in this chapter we will focus on Asia: specifically on Japan, South Korea, India, and China. It is interesting for academicians to understand how CSR is being absorbed and adapted into the business cultures of these four countries. Perhaps of even greater importance, it is vital that business managers know what to expect about the interaction between business and society as well as the government as their commercial activities grow in this burgeoning part of the world.

For each of these four countries, we will provide an overview of the extent to which CSR has become a part of the academic community and also how it is being practiced and incorporated in everyday management affairs. We will see that there are very significant differences among these countries which lead to the natural question: why? To answer this question, we will use an eight-part analytical framework developed specifically for this purpose. We will look at the history, the dominant religious beliefs, the relevant social customs, the geography, the political structures, the level of economic development, civil society institutions, and the “safety net” of each country. As a result of this analysis, we believe, academicians can learn how CSR is absorbed and spread into commercial affairs, and managers can profit from learning more about what to expect when doing business in this increasingly important region.

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Article
Publication date: 13 August 2018

Dinabandhu Sethi and Susanta Kumar Sethy

The purpose of this paper is to examine the relationship between financial inclusion (FI) and economic growth in India.

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Abstract

Purpose

The purpose of this paper is to examine the relationship between financial inclusion (FI) and economic growth in India.

Design/methodology/approach

To measure FI, a multidimensional time-varying index is proposed following the Human Development Index method. The long-run relationship between FI and economic growth is examined by using the autoregressive distributed lag (ARDL) approach to cointegration and nonlinear ARDL approach. Further, the direction of causality is investigated by employing the Toda–Yamamoto Granger causality test.

Findings

The linear cointegration test confirms a long-run relationship between FI and economic growth for India. The improvement in both demand-side and supply-side financial services has a positive impact on economic growth. These results suggest that India can attain long-run economic growth by improving the coverage of FI. However, there is no evidence of nonlinear cointegration, indicating that there is no asymmetric effect of FI on economic growth. Further, the causality test shows that FI granger causes economic growth but not vice versa.

Research limitations/implications

The major limitation of the study is the availability of time series data for all important variables. The index for both demand- and supply-side indicators can be extended with several other important variables in later date once the data are available for those variables.

Practical implications

As the study confirms that FI is one of the main drivers of economic growth, it is suggested that the policy maker emphasizing on financial sector reforms can enjoy economic growth in the long run, especially in developing countries. Therefore, the government and policy makers need to address the issues involved in access to financial services to spur economic growth.

Originality/value

The study examines the long-run relationship between FI and economic growth employing ARDL bound testing approach and nonlinear ARDL approach, separately for demand-side and supply-side indicators. Further, the study uses the Toda–Yamamoto granger causality to find the direction of causal flow between FI and economic growth.

Details

International Journal of Social Economics, vol. 46 no. 1
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 24 March 2022

Susanta Kumar Sethy and Phanindra Goyari

The main purpose of this paper is to examine the relationship between financial inclusion and financial stability in South Asian countries.

628

Abstract

Purpose

The main purpose of this paper is to examine the relationship between financial inclusion and financial stability in South Asian countries.

Design/methodology/approach

To measure the financial inclusion, a multidimensional time-varying index is constructed following the Human Development Index method. The long-run relationship between financial inclusion and financial stability is examined by using the panel cointegration test, fully modified ordinary least squares and dynamic ordinary least squares approaches to show the long-run elasticity of explanatory variables on dependent variables. Further, Dumitrescu-Hurlin panel causality test is used to find the direction of causality between financial inclusion and financial stability. Data set is of annual frequency of seven countries for the period from 2004 to 2018.

Findings

The empirical findings of this study confirm that financial inclusion has a positive and statistically significant impact on financial stability. These results suggest that South Asian countries can attain long-run financial stability by improving the coverage of financial inclusion. Further, panel causality test shows a unidirectional causality from financial inclusion to financial stability.

Research limitations/implications

The major limitation of the study is the availability of time series data for all important variables. Various socioeconomic variables can be used to measure financial stability, but this study included only the Z-score as the proxy for financial stability. Due to the data constraint, this study is unable to use the time series econometric analysis.

Practical implications

As the study confirms that financial inclusion is one of the main drivers of financial stability, it is suggested that the policymakers should emphasize on financial sector reforms to enjoy financial stability in the long run, especially in developing countries. So governments and policymakers of study countries need to address the issues involved in access to financial services to increase financial stability. Furthermore, it is also important to remove limitations of access to formal financial services for marginalized sections of the society with proper supervisions.

Originality/value

This is a new contribution on the present topic. This study has constructed a new multidimensional financial inclusion index (FII) following the Human Development Index method for South Asian countries based on annual data and using ten indicators of formal financial services related to availability, accessibility and usage. To the best of the authors’ knowledge and information, this is the first study on South Asian countries to construct and apply the new multidimensional FII. Further, the study examines the long-run elasticity of financial inclusion on financial stability employing FMOLS and DOLS approach.

Details

Journal of Financial Economic Policy, vol. 14 no. 5
Type: Research Article
ISSN: 1757-6385

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Article
Publication date: 13 September 2023

Anamika Saharan, Akash Saharan, Krishan Kumar Pandey and T. Joji Rao

The low level of financial literacy among young adults is a pressing concern at both individual and country levels. Therefore, there is a dire need to understand the best-worst…

329

Abstract

Purpose

The low level of financial literacy among young adults is a pressing concern at both individual and country levels. Therefore, there is a dire need to understand the best-worst antecedents of financial literacy and how they influence each other.

Design/methodology/approach

A two-phased multicriteria decision-making (MCDM) technique consisting of best-worst method and interpretive structural modeling (BWM-ISM) was employed for pair-wise comparison, assigning weights, ranking and establishing the relationship among antecedents of financial literacy.

Findings

Results suggest that use of Internet (SF1), role of financial advisors (SF3) and education level of individuals (DS7) are top ranked antecedents, whereas masculinity/feminity, language and power distance in society are the least ranked antecedents of financial literacy. Findings will help both academicians and practitioners focus on the key factors and make efforts to increase financial literacy by minimizing resource usage.

Originality/value

The current study provides clarity among antecedents of financial literacy by following BWM-ISM approach for the first time in the financial literacy context.

Peer review

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-11-2022-0746

Details

International Journal of Social Economics, vol. 51 no. 4
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 14 January 2025

Puneet Arora

Borrowers are usually presented with a menu of similar-looking options when selecting a loan plan. However, it remains unclear whether they are able to choose the most…

9

Abstract

Purpose

Borrowers are usually presented with a menu of similar-looking options when selecting a loan plan. However, it remains unclear whether they are able to choose the most cost-effective plan. This study aims to investigate whether people select loan plans optimally, whether their choices are influenced by the informational cues provided to them and how their selections change with the provision of additional loan-related information.

Design/methodology/approach

The study uses a within-participant experimental design, where participants are presented with similar-looking loan plans but with different present discounted costs. Subjects are asked to rank those plans, with the minimum present discounted cost plan maximizing their experimental payoff. The loan plans across different rounds are presented with different informational cues to see whether that influences participants' ability to select the cost-minimizing loan plans.

Findings

The author finds that participants were 78% likely to state a suboptimal preference ordering and 68% likely to select a loan plan that does not minimize cost. There is suggestive evidence regarding the role of attribute substitution in the decision-making process, wherein participants substituted annual percentage rate (APR) and total cost attributes for the present discounted cost of a loan plan. Additionally, the author presents causal evidence demonstrating how providing additional information can influence the choice of the substituted attribute.

Originality/value

Research has indicated that individuals often make suboptimal financial decisions, particularly in complex decision contexts. Examples include selecting medical insurance, a retirement savings plan, a student loan or borrowing on a credit card. This paper demonstrates that similar biases are present when individuals borrow using a loan plan, wherein they tend to substitute the APR or total cost of the loan plan for the present discounted cost of the loan plan. Furthermore, the study reveals that the impact of providing more information to borrowers can vary, depending on the combination of loan plans being considered.

Details

Review of Behavioral Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1940-5979

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Article
Publication date: 8 June 2018

Dinabandhu Sethi and Debashis Acharya

The purpose of this paper is to assess the dynamic impact of financial inclusion on economic growth for a large number of developed and developing countries.

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Abstract

Purpose

The purpose of this paper is to assess the dynamic impact of financial inclusion on economic growth for a large number of developed and developing countries.

Design/methodology/approach

This study uses some panel data models such as country-fixed effect, random effect and time fixed effect regressions, panel cointegration, and panel causality tests to examine the linkage between financial inclusion and economic growth. Panel cointegration is being used to test the long run association between financial inclusion and economic growth, whereas panel causality test is used to find the direction of causality between financial inclusion and economic growth. The data on financial inclusion are taken from Sarma (2012) for the period 2004-2010.

Findings

The empirical findings reveal that there is a positive and long run relationship between financial inclusion and economic growth across 31 countries in the world. Further, panel causality test shows a bi-directional causality between financial inclusion and economic growth Thus, the study confirms that financial inclusion is one of the main drivers of economic growth.

Research limitations/implications

This study has two limitations. First, this study considers only banking institutions in the analysis. Second, the period tested for the long run relationship is not long enough.

Practical implications

This study empirically measures the quantitative impact of financial inclusion policies pursued across the world. The study also suggests that policies emphasizing financial sector reforms in general and promoting financial inclusion in particular shall result in higher economic growth in the long run.

Originality/value

This study attempts to assess the long run relationship between financial inclusion and economic growth with the help of a multidimensional index of financial inclusion. Therefore, this can be a valuable contribution to the banks and policymakers.

Details

Journal of Financial Economic Policy, vol. 10 no. 3
Type: Research Article
ISSN: 1757-6385

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Article
Publication date: 24 April 2024

Wael Ahmed Elgharib

The study aims to find out the impact of financial inclusion and financial development on financial stability using panel data from eight countries in the Middle East and North…

301

Abstract

Purpose

The study aims to find out the impact of financial inclusion and financial development on financial stability using panel data from eight countries in the Middle East and North Africa (MENA).

Design/methodology/approach

To achieve the aim of the study, the researcher prepared two indicators of financial inclusion and governance to find out the impact of financial development on the relationship between financial inclusion and financial stability. Data on financial inclusion was obtained from the International Monetary Fund, data on financial development and financial stability were obtained from the World Bank.

Findings

The results of the fixed and random effect methods show that financial inclusion has a significant positive effect on financial stability. Additionally, financial development represents a moderating variable in the significant positive effect on the relationship between financial inclusion and stability in the MENA countries.

Research limitations/implications

The current study suffers from some limitations that researchers must be aware of in future research. First, there is an inability to determine qualitative aspects such as time and cost when designing a composite indicator of financial inclusion. Second, due to limited data, we used only eight countries from the MENA. It is suggested to expand the sample to include other countries.

Originality/value

This paper contributes to the related literature between financial inclusion and financial stability by confirming or denying the results of previous studies. Also, to the best of the author’s knowledge, this paper is the only one that explains the role of financial development in the relationship between financial inclusion and stability in MENA countries, using a composite index to calculate financial inclusion. Finally, the study seeks to focus the attention of the government and policymakers to build a system of financial inclusion that leads to improving financial stability.

Details

Review of Accounting and Finance, vol. 23 no. 4
Type: Research Article
ISSN: 1475-7702

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Book part
Publication date: 23 May 2024

Sabina Sethi, Bharti Panwar and Nidhi Goyal

Blogs are websites that contain posts about a wide range of topics, often written by fashion enthusiasts referred to as bloggers. With the increasing prevalence and popularity of…

Abstract

Blogs are websites that contain posts about a wide range of topics, often written by fashion enthusiasts referred to as bloggers. With the increasing prevalence and popularity of digital media and social media, fashion bloggers help to attract business and influence and engage various stakeholders, especially customers. The present exploratory study provided valuable insights regarding fashion consumption, preference, and buying behavior of young women consumers of metropolitan cities of India like Delhi, Hyderabad, Bangalore, Pune, and Mumbai. The study was conducted under the domain of exploratory study. Snowball and Purposive random sampling techniques were employed to identify and reach respondents of both categories – women consumers and bloggers. A conscious attempt was made to include women from different demographics such as age, marital status, income, area of residence, employment status, etc. Primary data were collected with the help of questionnaires. The findings of the research revealed bloggers through their blogs are the new trendsetters and influence fashion adoption, especially by the young social media savvy consumers. Their blogs impact public perceptions of fashion and sometimes are precursors of new fashion trends. The findings of the study interestingly brought forth the fact that millennial women buying decision is significantly influenced by fashion blogs for the purchase of clothing and accessories. The findings also clearly indicated that blogs significantly influenced respondents’ attitude toward the purchase of branded merchandise. Fashion bloggers besides providing information and inspiration to the blog readers, also at times assist and/or give consultation to their followers.

Details

Navigating the Digital Landscape
Type: Book
ISBN: 978-1-83549-272-7

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Article
Publication date: 28 October 2014

Kamal Fatehi and Fariborz Ghadar

This paper aims to identifying managerial mindset by constructing a cognitive or integrative geocentrim index. Going international is either an extension of successful domestic…

1251

Abstract

Purpose

This paper aims to identifying managerial mindset by constructing a cognitive or integrative geocentrim index. Going international is either an extension of successful domestic business operations or a requirement for remaining competitive. It is imperative for firms to be a part of the international market. Therefore, firms should want to know how internationalized are their operations. To gain such knowledge requires measuring the degree of internationalization, which, in turn, is related to “managerial mindset”.

Design/methodology/approach

Based on literature review, four dimensions of integrative geocentrism were identified, which also dealt with content validity of the index. A questionnaire was constructed reflecting these dimensions. The sample of 59 managers, whose jobs were involved in international business, completed the questionnaire. Reliability was established using Cronbach’s alpha.

Findings

The construction of this index was an attempt in providing an objective way of measuring managerial mindset, which could be a way of measuring the degree of internationalization of firm.

Research limitations/implications

Cronbach’s alpha was used to measure the reliability of the index. It was within the acceptable range. Future research could expand upon this index by improving its reliability and expanding the range of question items.

Practical implications

Often, a question is posed about the international standing of a firm, either by the managers inside the firm or by others outside. Almost always, the answer to such a question is an opinion and a guess. The application of this index enables firms to respond to such a question objectively.

Social implications

Information on the mindset of multinational company (MNC) managers would be useful in identifying how to overcome the shortcomings.

Originality/value

This index is useful to MNC as a measure of internationalization progress. The benefits of the index are twofold. First, it generates an understating about the mindset of managers. Second, it identifies needed changes and corresponding necessary actions.

Details

International Journal of Commerce and Management, vol. 24 no. 4
Type: Research Article
ISSN: 1056-9219

Keywords

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