Subhash C. Sharma and Ike Mathur
Merger activities and stock market prices tend to vary over time. An interesting issue is whether changes in stock market prices stimulate changes in merger activities, or vice…
Abstract
Merger activities and stock market prices tend to vary over time. An interesting issue is whether changes in stock market prices stimulate changes in merger activities, or vice versa. The results of this study, based on the Granger test for causality, indicate very strong causality going from stock market prices to merger activities. Increases in stock market prices, perhaps indicating a favourable economic environment, lead to increases in the number of mergers being completed.
Assandé Désiré Adom, Subhash C. Sharma and A.K.M. Mahbub Morshed
This paper aims to investigate the presence of currency substitution in eight African countries.
Abstract
Purpose
This paper aims to investigate the presence of currency substitution in eight African countries.
Design/methodology/approach
This study investigates the presence of currency substitution in eight African countries – Egypt, Morocco, Nigeria, Ghana, Kenya, South Africa, Tunisia and Zambia – for the period 1976 to 2005 using both regional and US dollar as anchor currencies.
Findings
The paper finds that currency substitution is prevalent in Ghana and Nigeria when CFA franc is used as an anchor currency. However, when US dollar is used as an anchor currency there is no evidence of currency substitution in Ghana, but the presence of currency substitution in Nigeria is still observed. The paper also finds the presence of currency substitution in South Africa, but not in Egypt when the US dollar is the anchor currency. For Kenya, Tunisia and Zambia there is no evidence of currency substitution irrespective of the anchor currencies considered. In the case of Morocco, no evidence of currency substitution is observed when the Egyptian pound is used as anchor currency, but there is weak evidence of currency substitution when the US dollar is considered.
Originality/value
This paper provides useful information on the presence of currency substitution in African countries.
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Tantatape Brahmasrene and Komain Jiranyakul
This study investigates the impact of real exchange rates on the trade balances between Thailand and its major trading partners. Previous empirical evidence gave mixed results of…
Abstract
This study investigates the impact of real exchange rates on the trade balances between Thailand and its major trading partners. Previous empirical evidence gave mixed results of the impact of real exchange rates on trade balances. In this study, Augmented Dicky‐Fuller and Phillips‐Perron tests for stationarity followed by the cointegration tests are implemented. All variables in the model are nonstationary but cointegrated. In cointegrating regressions, biases are introduced by simultaneity and serial correlation in the error. The specification that deals with these problems is the non‐linear specification of Stock and Watson (1989). By using this non‐linear model as modified by Reinhart (1995), the results show that the impact of real exchange rates (Thai baht/foreign currency) on trade balances is significant in most cases. Therefore, the generalized Marshall‐Lerner condition seems to hold. Furthermore, the results show that the real exchange rates play a more important role in the determination of the bilateral trade balances than other factors. Since the real exchange rate variable plays a major role in this study, the policy recommendation is to prevent exchange rate misalignment. A policy that can neutralize the changes in nominal exchange rates and relative prices should be introduced to prevent further deterioration of the trade balance.
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Dheeraj Sharma, Varsha Verma and Subhash Sharma
The purpose of this paper is to conduct a five-country study of consumers’ need for uniqueness (CNFU) and examine its research and practical implications. Most studies examining…
Abstract
Purpose
The purpose of this paper is to conduct a five-country study of consumers’ need for uniqueness (CNFU) and examine its research and practical implications. Most studies examining CNFU have used single country or US-based samples. To promote cross-cultural research, the authors test the cross-cultural reliability and validity of the CNFU scale using data from the USA, a developed economy, Brazil, India, Thailand, and Mexico, all emerging economies.
Design/methodology/approach
The original CNFU scale was developed in the USA. Therefore, to cross-validate the scale, data were collected from consumers in the USA, Brazil, India, Thailand, and Mexico as these countries demonstrate important socio-economic and cultural differences. The scale was tested using confirmatory factor analysis.
Findings
The scale was estimated and validated in all five countries and the analysis reveals that the CNFU scale has sound psychometric properties. Further, the authors find that CNFU is a cross-cultural phenomenon that has a significant impact on market mavenism (MM), and this relationship is moderated by usage variety (UV).
Research limitations/implications
The results indicate generality of all the scale items, and demonstrate that CNFU is a cross-cultural phenomenon. Greater nomological validity of the CNFU construct could be established by investigating its relationship with more constructs.
Originality/value
The authors provide empirical evidence on the cross-cultural validity of the CNFU scale; examine its effect on MM; and role of UV on the relationship between CNFU and MM.
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Subhash Jha, M.S. Balaji, Ugur Yavas and Emin Babakus
Using the basic framework of the service profit chain, this study aims to develop an integrated model that explains the relationships among role overload (RO), customer…
Abstract
Purpose
Using the basic framework of the service profit chain, this study aims to develop an integrated model that explains the relationships among role overload (RO), customer orientation (CO), service interaction quality (IQ), customer satisfaction (CS) and sales performance.
Design/methodology/approach
A large-scale survey of 872 customers and 530 frontline employees across 50 branches of a major retail bank in New Zealand serves as the study setting.
Findings
The results indicate that RO has a significant negative effect on IQ. Nevertheless, CO mitigates the negative outcome of RO on IQ. IQ fully mediates the relationship between RO and CS. Additionally, the effect of IQ on branch sales is fully mediated by CS.
Research limitations/implications
The cross-sectional nature of the current survey does not permit causal inferences. Thus, future studies should adopt longitudinal designs. Also, future studies should explore the roles of other variables (e.g. job crafting, work-related self-efficacy) as possible moderators.
Practical implications
Results suggest that service managers should create a balance between the role requirements and organizational resources to mitigate the adverse effects of employee RO. To enhance IQ and CS, bank managers should coach employees about work overload and train them in CO while prioritizing the tasks.
Originality/value
Empirical research pertaining to employee–customer interaction through a nested framework accommodating data from customers, employees and firm performance is scarce. This study fills in the void.
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This paper presents an evolutionary journey of management thought through four phases viz. scientific management, human side, ethics and values and spirituality in management…
Abstract
This paper presents an evolutionary journey of management thought through four phases viz. scientific management, human side, ethics and values and spirituality in management. Further, it presents three paradigms of management viz. American, Japanese and Indian in term of three key ideas viz. Kola (derived from Cola), Kaizen and Knowledge. It suggests that Indian paradigm is rooted in the spiritual view of human beings and there is a need to bring this view to management and leadership literature. This paper also makes a comparative analysis of three paradigms in terms of vision of life, influencing thinkers, dominant ethos and foundational theories. For future direction of management thinking, an integration of these three paradigms in terms of a holistic approach to corporate management is suggested.
Western business-to-business firms are under increasing competition from firms in emerging nations. As examples, Mindray in medical devices, LiuGong in earth moving equipment…
Abstract
Purpose
Western business-to-business firms are under increasing competition from firms in emerging nations. As examples, Mindray in medical devices, LiuGong in earth moving equipment, Tata motors in Buses and Suzlon in Wind turbines are emerging as strong competitors in their industries. Yet despite increased competition from emerging nation firms, insufficient research has examined the growth of these firms, specifically in the areas of technology and innovation development processes. The purpose of this study is to examine how emerging nation business-to-business firms that have global ambitions achieve technology competence.
Design/methodology/approach
The authors examined several case studies on emerging market business-to-business firms that have moved to global markets and highlight the following five: LiuGong China (excavating products), Mindray China (medical equipment), Suzlon Energy India (wind generators), Tata Motors Buses India and BYD Auto China (batteries to electric cars). The firms are in business-to-business markets, except for BYD China that emerged as a business-to-business battery supplier but is currently in both business-to-business and business-to-consumer markets.
Findings
The authors find that firms in emerging markets that have global ambitions follow different approaches to innovation development processes from conventional theories and assumptions held by scholars and practitioners in Western developed countries. Our cases suggest that firms follow the proposed progression: domestic markets – internally developed technology; domestic markets –acquired technology; and finally to, global markets – acquired technology.
Researchlimitations/implications
The authors contribute to research in three areas. First, they suggest that the innovation development process for emerging market firms is different from the Western world. Second, they provide a framework of innovation development process that can be tested in multiple environments. Third, this study suggests a deeper examination of the longitudinal development of business-to-business firms, an area that has received less attention.
Practicalimplications
The authors suggest that firms need to better track their competition from emerging nations because emerging nation firms can quickly acquire technology to become strong competitors.
Originality/value
Extant research has not examined these issues.
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Subhash Yaragal, K S Babu Narayan, Katta Venkataramana, Kishor Kulkarni, H C Chinnagiri Gowda, G R Reddy and Akanshu Sharma
Concrete in structures is likely to be exposed to high temperatures during fire. The probability of its exposure to elevated temperatures is high due to natural hazards, accidents…
Abstract
Concrete in structures is likely to be exposed to high temperatures during fire. The probability of its exposure to elevated temperatures is high due to natural hazards, accidents and sabotages. Therefore, the performance of concrete during and after exposure to elevated temperature is a subject of great importance and interest to the designer. Popular normal strength grades of concrete produced by Ready Mix Concrete (RMC) India, Mangalore have been used in production of test specimens (150 mm cubes), cured and tested by destructive method for gathering data on strength characteristics. Later, these test samples were subjected to elevated temperatures ranging from 100°C to 800°C, in steps of 100°C with a retention period of 2 hours. After exposure, weight losses and the residual compressive strength retention characteristics are studied. Test results indicated that weight and strength significantly reduces with an increase in temperature. Residual compressive strength prediction equations are proposed for normal strength concretes subjected to elevated temperatures.
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Subhash Chander Arora and Vinod Kumar Singh
The study aims to fulfil two objectives, namely, to explore what dimensions comes into play in the current consumer EV purchase behaviour based on relevant literature identified…
Abstract
Purpose
The study aims to fulfil two objectives, namely, to explore what dimensions comes into play in the current consumer EV purchase behaviour based on relevant literature identified in the past and to find out whether there are other reasons that are peculiar to the Indian automobile market which influenced consumers to adopt this eco-friendly technology.
Design/methodology/approach
Mixed method approach for collecting the primary data was used. The study was conducted in five cities across India, through a questionnaire administered to 266 existing EV owners using judgemental sampling, that included dimensions as to what made them purchase EVs (any variant whether hybrid or battery) and encouraged their green behaviour. Moreover, the survey also took care of gathering other motivational constructs that may have played a significant role in the Indian EV market. To take care of this, use of single open-ended question was done. Statistical techniques like exploratory factor analysis (EFA) and Partial Least Square-Structural Equation Modelling (PLS-SEM) version 4.0 were performed to gain meaningful insights from this investigation.
Findings
Based on our analysis, EV purchase behaviour in the Indian market could be explained by six configurational paths identified in conceptual framework of this study. The data analysed revealed long-term operational benefits or relative advantages, trialability or prior driving experience and positive attitude towards EVs playing an important role towards EV purchase decision followed by environmental concern, social norms and personal values of Indian consumers. Besides, several other factors were identified in open comments like favourable government policies, brand consciousness, compatibility and functional benefits in terms of comfortable and noiseless driving which tend to drive the decision of Indian consumers towards buying EVs. The identification of these motivations can help policymakers in targeting the customer market accordingly.
Research limitations/implications
Although the study is restricted by its scope of sampling criteria, yet is distinct in its methodological approach and thereby adds value to existing literature on marketing and diffusion of EVs. The study explores the untapped gap in the current literature by helping identify reasons on the basis of which consumers made their choices of different EVs. Instead of analysing the potential antecedents of EV uptake, the study brings to light the actual reasons of EV purchase behaviour in the context of an emerging economy like India. That is to say, the horizon of EV motivations spans across technological, individual and regulatory attributes in the Indian automobile market.
Practical implications
This study is relevant and fulfils the underlying gap in the existing literature related to actual motivations that consumers look for before buying a high involvement product such as EVs. The results can be beneficial for marketers to design effective marketing strategies from the perspective of consumers. Promotional strategies addressing ease of using EVs and how battery technology is better than before needs to be clearly communicated by the marketers. Consumer education is necessary, in this regard, to make people aware of the rising air pollution levels. They have to be made understood the real advantages of owning EVs and how these non-conventional vehicles are far better when compared to traditional cars. In a nutshell, the study underscored potential determinants or reasons that made Indian consumers to go for EVs, based on statistically significant evidences which can be crucial for stakeholders operating in the Indian EV industry.
Social implications
The study has important implications for members of the community. By sacrificing their egoistic tendencies or individual preferences for energy intensive products such as ICE based vehicles, people can imbibe altruistic orientation and can contribute to the collective benefit of all by shifting towards energy rich vehicles powered by electricity. This is necessary to achieve the broader goals of sustainable development and to curtail the rising climate change phenomenon.
Originality/value
The study applied both quantitative (deductive) and qualitative (inductive) approach to study into the reasons for consumers’ purchase motivations towards electric cars. Taking a distinct methodological approach, the study enhances the knowledge on EVs by asking consumers to comment in their own words as to why they purchased EVs. This was necessary so as to better explore the needs of the Indian automobile market and which factors govern the purchase of EVs in domestic market. Past literature majorly focused on purchase intention towards EVs but this study in unexampled and analysed the purchase behaviour towards EVs. It should be noted that our investigation reveals the complexity of EV purchase reasons than those identified in past literature and it adds to the current pool of literature on EVs by explaining factors with unrivalled illustrative power.
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Neha Gahlawat and Subhash C. Kundu
The purpose of this paper is to examine the relationship between participatory HRM and firm performance through a series of mediators.
Abstract
Purpose
The purpose of this paper is to examine the relationship between participatory HRM and firm performance through a series of mediators.
Design/methodology/approach
Primary data were collected from 569 respondents belonging to 207 organizations operating in India. Structural equation modeling and bootstrapping via PROCESS were used to analyze the hypothesized relationships between participatory HRM and firm performance.
Findings
The study has highlighted that participatory HRM in the form of self-managed teams, flexible work arrangements and empowerment results in better organizational climate, heightened affective commitment, reduced intention to leave and enhanced firm performance. Furthermore, it has been established that organizational climate, affective commitment and intention to leave serially mediate the relationship between participatory HRM and firm performance.
Practical implications
The study gives strong indications that adopting bundle of participatory HRM practices is beneficial for generating positive organizational climate, enhanced employee attitudes and superior firm performance.
Originality/value
By establishing serial mediation through organizational climate, affective commitment and employees’ intention to leave, this study brings new insights into the interpretation of underlying mechanism existing between participatory HRM and firm performance, thus uniquely contributes to the HRM and OB literature.