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Article
Publication date: 11 February 2021

Noman Younas, Shahab UdDin, Tahira Awan and Muhammad Yar Khan

The purpose of this paper is to examine the impact of corporate governance index (PAKCGI) on firm financial distress for a sample of 152 non-financial firms listed at Pakistan…

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Abstract

Purpose

The purpose of this paper is to examine the impact of corporate governance index (PAKCGI) on firm financial distress for a sample of 152 non-financial firms listed at Pakistan Stock Exchange (PSX) over the period from 2003 to 2017.

Design/methodology/approach

To examine the impact of PAKCGI on financial distress (Altman Z-Score), random effect model is applied. The PAKCGI is a self-constructed index based on the five important factors of corporate governance practices, i.e. board of directors, audit committees, right of shareholders, disclosures and risk management. The binary coding approach is adopted for the construction of PAKCGI. Altman Z-Score model is used as a proxy for financial distress indicator. The absolute value of Altman Z-score has been taken as financial distress indicator.

Findings

The outcomes of the study indicate a positive impact of PAKCGI on risk of firms’ financial distress. The positive coefficient of PAKCGI implies that the good corporate practices work as catalyst to reduce risk of financial distress in Pakistan. A significant negative impact of block holders on financial distress suggests that the concentrated block ownership take monopolistic decision to protect their interests. It has also been observed that significant positive impact of institutional ownership on financial distress exists in the Pakistani listed firms. Furthermore, this study also reveals that significant negative association between board size, CEO duality and financial distress indicator.

Research limitations/implications

The findings may encourage the Pakistani listed companies to follow and implement good corporate governance practices, which would lead to increase the confidence of investors, regulators and stakeholders.

Originality/value

The current study extends the corporate governance literature by examining the relationship between the corporate governance attributes and the financial distress status of Pakistani listed companies. From the academic perspective, this paper adds to the knowledge concerning the association between corporate governance practices and risk of financial distress in emerging markets.

Details

Corporate Governance: The International Journal of Business in Society, vol. 21 no. 4
Type: Research Article
ISSN: 1472-0701

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Article
Publication date: 18 March 2020

Tahira Awan, Syed Zulfiqar Ali Shah, Muhammad Yar Khan and Anam Javeed

The capital markets witness phenomenal shifts of corporate control. With the shift of world economy into a global one, there has been a rapid increase in the volume of…

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Abstract

Purpose

The capital markets witness phenomenal shifts of corporate control. With the shift of world economy into a global one, there has been a rapid increase in the volume of acquisitions. The previous studies shed light on the motives behind acquisition and impact of acquisition on both bidding and target firms. The purpose of this study is to bridge a gap in literature by exploring the factors affecting the acquisition ability (AA) of the firms. The study has analyzed the role of financial strength, corporate governance and regulatory influence on AA of acquiring firm.

Design/methodology/approach

Cross-sectional data has been analyzed with respect to Pakistan stock exchange for a period of 2004-2017 by using logit regression.

Findings

Analysis indicates that firm-specific variables are important determinants in firm’s decision to acquire. Chief Executive Officer duality and presence of institutional shareholders on the board contribute to this important phenomenon in the life of the acquiring firms. Bidding firm’s financial strength is also another important consideration while going for corporate control transfer transactions. The empirical results indicate the better AA for firms characterized by minimum capacity usage, lower level of intangible assets, lower debt levels and lower advertising expenses. However, the regulatory factor has no significant role in firms’ AA. The findings of the study are helpful for managers, regulators and policymakers.

Originality/value

Analyzing the role of financial strength, corporate governance and regulatory influence on AA of acquiring firm is a rare study, especially in an emerging country such as Pakistan.

Details

Corporate Governance: The International Journal of Business in Society, vol. 20 no. 3
Type: Research Article
ISSN: 1472-0701

Keywords

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Article
Publication date: 5 June 2017

Bala Haruna, K. Kiran and Muzammil Tahira

This study aims to empirically validate the LibWebSQ measurement scale. In addition, it investigates the relationship between perceived web-based service quality and three other…

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Abstract

Purpose

This study aims to empirically validate the LibWebSQ measurement scale. In addition, it investigates the relationship between perceived web-based service quality and three other latent constructs, namely, user satisfaction, service value and user loyalty.

Design/methodology/approach

A quantitative survey design was used to collect the data. Structural equation modeling was used to determine the influence of web-based service quality on the three latent constructs. The respondents were students, academic staff and non-academic staff from two federal universities in the North-western zone of Nigeria.

Findings

The findings of the path analysis indicate that perceived web-based service quality and service value exhibit no statistically significant direct influence on user loyalty. However, user satisfaction has a direct positive influence on user loyalty, and it also mediates the relationship between web-based service quality and user loyalty to the library.

Research limitations/implications

The LibWebSQ is a reliable and valid scale to be used in Nigerian university libraries for web-based service quality measurement. User loyalty in academic libraries can be modelled as a result of service quality and user satisfaction

Practical implications

This study provides a means of assessing web-based library service quality and further improving the policy and practice in university libraries.

Originality value

This is the first attempt to assess web-based library service quality using the LibWebSQ measurement scale. A satisfactory model fit is obtained, which allows the measurement model to be integrated with service value, user satisfaction and user loyalty. The study contributes to the conceptualization of web-based library service quality.

Details

The Electronic Library, vol. 35 no. 3
Type: Research Article
ISSN: 0264-0473

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Article
Publication date: 9 October 2023

Tahira Iram, Ahmad Raza Bilal, Tariq Saeed and Faiza Liaquat

In 2016, Kingdom of Saudi Arabia (KSA) initiated Saudi Vision 2030, an ambitious plan to lessen the country's dependency on fossil fuels and increase economic diversification. The…

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Abstract

Purpose

In 2016, Kingdom of Saudi Arabia (KSA) initiated Saudi Vision 2030, an ambitious plan to lessen the country's dependency on fossil fuels and increase economic diversification. The Vision 2030 framework strives to establish a thriving economy, a vibrant society and an ambitious nation. This study aims to investigate the role of green service innovation (SI) and green work engagement (WE) in mediating the nexus between green human resource management (HRM) and green creativity (GC) under conditional role of spiritual leadership (SL).

Design/methodology/approach

A survey was done of 300 female intrapreneurs working in the organization within Saudi Arabia. This study has collected data via stratified random sampling technique. The framework was tested using PLS-SEM software.

Findings

The findings reveal that WE fully intervenes the nexus between green HRM and GC. Moreover, SL positively moderates the nexus between green HRM and SI.

Originality/value

Thus, based on findings, it is recommended that female intrapreneurs prioritize environmentally responsible operations to gain and sustain competitive edge over rivals in Saudi competitive market.

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Article
Publication date: 20 May 2021

Md. Alamgir Hossain, Nusrat Jahan and Minho Kim

Banking services encounter major challenges in determining customer's psychometric behavioral intentions. Scholars suggest that a theoretical approach to better understand the key…

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Abstract

Purpose

Banking services encounter major challenges in determining customer's psychometric behavioral intentions. Scholars suggest that a theoretical approach to better understand the key constructs of service marketing, such as service quality, perceived value, customer satisfaction, corporate image and behavioral intentions, is critical to bank performance. The present study aims to design and test a comprehensive multidimensional and hierarchical model of service quality with higher-order psychometric constructions and their mediation effects in the model.

Design/methodology/approach

Data from a self-administered structured questionnaire are analyzed by confirmatory factor analysis and structural equation modeling.

Findings

Empirical results confirm that multidimensional and hierarchical service quality are best suited to assess overall banking service quality, in which outcome, interaction and environment quality are the important primary dimensions, with each of them having several subdimensions. Service quality is the significant antecedent of behavioral intentions, customer satisfaction, corporate image and perceived value. Customer satisfaction and service quality are the best determinants of behavioral intentions. In addition, customer satisfaction, perceived value and corporate image are complementary variables, having significant mediation effects on the relationship between service quality and behavioral intentions.

Originality/value

As a maiden study in the context of emerging economies, this research integrates a comprehensive service quality theory and valuable customer loyalty constructs, which are crucial to banks' financial performance, bolstering evidence for the theoretical pitch. This study also provides managers with a clear idea of how they can develop sustainable service marketing strategies and policies on the psychometric perceptions of customers, thereby leading banks to achieve long-term goals.

Details

International Journal of Emerging Markets, vol. 18 no. 4
Type: Research Article
ISSN: 1746-8809

Keywords

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