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Article
Publication date: 2 August 2013

Todd Shank, Ronald Paul Hill and John Stang

The purpose of this paper is to examine the continuing search for evidence that good corporate governance leads to positive organizational outcomes, and it presents a unique

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Abstract

Purpose

The purpose of this paper is to examine the continuing search for evidence that good corporate governance leads to positive organizational outcomes, and it presents a unique perspective on this issue based on firm size.

Design/methodology/approach

The study utilized a comprehensive measure of governance as well as a risk‐adjusted measure of share price in its comparisons between companies known for good governance and broader markets composed of similar‐sized firms.

Findings

The findings show evidence of better risk‐adjusted performance across all recent sub‐periods (three‐, five‐, and ten‐year) for the firms in the smallest market capitalization category. Better risk‐adjusted returns were earned for only the ten‐year period for the largest firms and the overall US market. Mid‐cap stocks were not significant in any of the three periods studied. The fact that the small cap stocks showed significance for all three sub‐periods indicates the relationship between good corporate governance practices and the financial success of a company is the strongest for smaller firms and is more likely to be experienced in longer time horizons for most firms, small and large.

Research limitations/implications

Investigations of this seminal issue have produced mixed results because the operational definitions of governance often are too narrow, the timeframes for impact are too constricted, and the comparisons are too broad. In addition, the use of a novel approach for understanding why these findings may hold true provides scholars with new avenues for thinking about and modeling the governance‐performance relationship.

Practical implications

Good governance matters and requires managers and policy makers to find the appropriate context in order to have meaningful comparisons.

Social implications

The paper supports the “doing well while doing good” paradigm for both individual and institutional investors' investment choices by showing that selecting firms that practice good corporate governance can be a long‐term value‐maximizing strategy.

Originality/value

A major nuance from other studies of the impact of a firm's corporate governance performance on its financial performance is the authors' use of four sub‐categories of companies based on market capitalization/firm size. Findings ultimately show whether investors/owners reward corporate governance via stock purchases, and if so, how this relationship may have changed over the past decade according to various markets and risk‐adjusted returns.

Details

Corporate Governance: The international journal of business in society, vol. 13 no. 4
Type: Research Article
ISSN: 1472-0701

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Article
Publication date: 1 August 2005

Todd Shank, Daryl Manullang and Ron Hill

This article reexamines the “doing well while doing good” debate within the financial management literature, using comparisons among socially responsible mutual funds (SRMF(, the…

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Abstract

This article reexamines the “doing well while doing good” debate within the financial management literature, using comparisons among socially responsible mutual funds (SRMF(, the NYSE Composite Index, and a portfolio made up of firms most valued by SRMF managers )MostSRF(. The performance of MostSRF did no better or no worse than the over all market or SRMF in three to five year comparisons. However, results from the ten‐year performance comparison refute earlier studies and indicate that the market prices social responsibility characteristics in the long run. Given MostSRF out performed the other two indices in this time line, a new paradigm for understanding the impact of SRI is revealed.

Details

Managerial Finance, vol. 31 no. 8
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 16 December 2024

Reka Maiyarni, Sidharta Utama, Chaerul D. Djakman and Aria Farah Mita

This study aims to assess the direct and indirect effects of environmental, social and governance (ESG) performance on investment efficiency by investigating the role of financial…

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Abstract

Purpose

This study aims to assess the direct and indirect effects of environmental, social and governance (ESG) performance on investment efficiency by investigating the role of financial reporting quality in mediating this relationship.

Design/methodology/approach

To obtain a more comprehensive measurement of ESG performance, this study used both Refinitiv Eikon and Bloomberg ESG scores, while previous studies typically used one ESG score measurement. The test was conducted on cross-country samples of 5,980 observations over 2016–2023. The mediation effect was tested using the three-stage least squares method developed by Baron and Kenny (1986). The Oster test was done to address endogeneity issues that become a matter of concern in determining the estimation model used in this study.

Findings

Empirical results show that ESG performance positively affects investment efficiency, and financial reporting quality mediates the positive effects of ESG performance on investment efficiency. The results of this study indicate that ESG performance will reduce agency problems, thus increasing investment efficiency. This implies that high ESG performance and good financial reporting quality are determining factors for companies to invest more efficiently.

Originality/value

This study reveals how ESG performance affects investment efficiency mediated by financial reporting quality, which has never been discussed in other studies. ESG performance was measured by using the average of Bloomberg ESG score and Refinitiv Eikon ESG score to complement previous studies that generally used one ESG score measurement.

Details

International Journal of Ethics and Systems, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9369

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Book part
Publication date: 10 December 2015

Dekar Urumsah

The concept and practice of e-services has become essential in business transactions. Yet there are still many organizations that have not developed e-services optimally. This is…

Abstract

The concept and practice of e-services has become essential in business transactions. Yet there are still many organizations that have not developed e-services optimally. This is especially relevant in the context of Indonesian Airline companies. Therefore, many airline customers in Indonesia are still in doubt about it, or even do not use it. To fill this gap, this study attempts to develop a model for e-services adoption and empirically examines the factors influencing the airlines customers in Indonesia in using e-services offered by the Indonesian airline companies. Taking six Indonesian airline companies as a case example, the study investigated the antecedents of e-services usage of Indonesian airlines. This study further examined the impacts of motivation on customers in using e-services in the Indonesian context. Another important aim of this study was to investigate how ages, experiences and geographical areas moderate effects of e-services usage.

The study adopts a positivist research paradigm with a two-phase sequential mixed method design involving qualitative and quantitative approaches. An initial research model was first developed based on an extensive literature review, by combining acceptance and use of information technology theories, expectancy theory and the inter-organizational system motivation models. A qualitative field study via semi-structured interviews was then conducted to explore the present state among 15 respondents. The results of the interviews were analysed using content analysis yielding the final model of e-services usage. Eighteen antecedent factors hypotheses and three moderating factors hypotheses and 52-item questionnaire were developed. A focus group discussion of five respondents and a pilot study of 59 respondents resulted in final version of the questionnaire.

In the second phase, the main survey was conducted nationally to collect the research data among Indonesian airline customers who had already used Indonesian airline e-services. A total of 819 valid questionnaires were obtained. The data was then analysed using a partial least square (PLS) based structural equation modelling (SEM) technique to produce the contributions of links in the e-services model (22% of all the variances in e-services usage, 37.8% in intention to use, 46.6% in motivation, 39.2% in outcome expectancy, and 37.7% in effort expectancy). Meanwhile, path coefficients and t-values demonstrated various different influences of antecedent factors towards e-services usage. Additionally, a multi-group analysis based on PLS is employed with mixed results. In the final findings, 14 hypotheses were supported and 7 hypotheses were not supported.

The major findings of this study have confirmed that motivation has the strongest contribution in e-services usage. In addition, motivation affects e-services usage both directly and indirectly through intention-to-use. This study provides contributions to the existing knowledge of e-services models, and practical applications of IT usage. Most importantly, an understanding of antecedents of e-services adoption will provide guidelines for stakeholders in developing better e-services and strategies in order to promote and encourage more customers to use e-services. Finally, the accomplishment of this study can be expanded through possible adaptations in other industries and other geographical contexts.

Details

E-services Adoption: Processes by Firms in Developing Nations
Type: Book
ISBN: 978-1-78560-709-7

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Article
Publication date: 15 June 2010

Eva Zellman, William Kaye‐Blake and Walt Abell

The research aims to investigate consumer decision‐making strategies using quantitative and qualitative methods. Two decision theories are contrasted: neoclassical theory proposes…

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Abstract

Purpose

The research aims to investigate consumer decision‐making strategies using quantitative and qualitative methods. Two decision theories are contrasted: neoclassical theory proposes compensatory and optimising strategies with complete information, whilst bounded rationality theory suggests simplified and non‐compensatory strategies. The research assesses whether these theories will explain consumers' decision‐making strategies when completing a survey, and the extent to which qualitative and quantitative methods provide convergent validity of the explanations.

Design/methodology/approach

A computer‐based choice survey was administered to university students and staff. The choice task was to select a preferred potato from sets of potatoes with different attributes. Information for each attribute was initially hidden by a “card”; respondents had to reveal the information by clicking on the card with the computer mouse. The survey recorded the order of mouse clicks, providing quantitative data on decision strategies. Some respondents were also interviewed about their decision processes, which provided qualitative data on strategies.

Findings

Respondents left over one‐fifth of the cards unopened. Interview findings confirmed that respondents generally did not obtain all available information and used simplified strategies. The qualitative data were generally validated by the quantitative data and provided improved descriptions of decision strategies.

Research limitations/implications

Some qualitative data can not be verified with quantitative data, and the convenience sample of university students and staff may limit the generalisability of the findings.

Originality/value

The paper suggests that consumers may not use all available information when making choices. The neoclassical assumption of full information may therefore not hold. It also indicates that probing decision strategies with qualitative questioning provides accurate data and better details than could be obtained quantitatively.

Details

Qualitative Market Research: An International Journal, vol. 13 no. 3
Type: Research Article
ISSN: 1352-2752

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Article
Publication date: 13 June 2022

Pranjal Gupta, Jennifer L. Burton and Letícia Costa Barros

The purpose of this research is to extend theoretical knowledge of key variables and their interactions that impact the persuasiveness of online influencers. The study explores…

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Abstract

Purpose

The purpose of this research is to extend theoretical knowledge of key variables and their interactions that impact the persuasiveness of online influencers. The study explores the interactions between influencer gender, follower gender, influencer physical attractiveness, influencer product-match and influencer-follower homophily on persuasiveness of influencer product promotions. Although the extant literature shows the persuasive impact of attractiveness, product-match, gender and homophily, less is known about the interactions of these variables with each other and the gender of the influencer and his or her followers. These gaps in the literature are explored.

Design/methodology/approach

The study is a scenario-based experiment where respondents were randomly assigned to cells where influencer attractiveness and product-match were manipulated. The variables of homophily and respondent gender were measured and recorded, respectively. The data were collected through an online survey done through Qualtrics.

Findings

The findings show that for female influencers, homophily felt by their followers is a dominant persuasive factor, which tends to supersede the variables of attractiveness and product-match. For male influencers, homophily is an incremental persuasive variable. That is, homophily, attractiveness and product-match interact such that persuasiveness is highest when all three variables are strong.

Research limitations/implications

Limitations are that the authors used a student sample and a hypothetical scenario-based experiment. Theoretical implications are interesting in that the authors have results which add to theory on the factors that make an online influencer more persuasive. Specifically, the authors contribute by extending theoretical knowledge about the interactions of key variables that influence the impact of online influencers.

Practical implications

For a manager marketing products using influencers, it is very important to stress homophily cues for female influencers more than other variables. However, for male influencers, product knowledge or match, homophily and attractiveness all need to work simultaneously to maximize influencer persuasiveness.

Social implications

One needs to understand that physical attractiveness and perceived homophily with the influencer have significant influence and persuasiveness, regardless of product or service. Hence, there needs to be social responsibility in what is advertised and promoted, given that followers may be persuaded by influencers no matter what the product or service is.

Originality/value

To the best of the authors' knowledge, this is the first study that explores the persuasiveness of online influencers from the perspective of the variable interactions described above.

Details

Internet Research, vol. 33 no. 2
Type: Research Article
ISSN: 1066-2243

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Article
Publication date: 1 April 2011

Youngjin Hur, Yong Jae Ko and Cathryn L Claussen

The purpose of this study is to develop a Sport Website Acceptance Model (SWAM) based on the Technology Acceptance Model (TAM; Davis, 1989). To better explain sports fans'…

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Abstract

The purpose of this study is to develop a Sport Website Acceptance Model (SWAM) based on the Technology Acceptance Model (TAM; Davis, 1989). To better explain sports fans' decision-making processes in using sports websites, we incorporated salient consumer variables as sports involvement and psychological commitment and added trustworthiness and enjoyment to the TAM. The paper concludes with implications for future research and for application to online sports business.

Details

International Journal of Sports Marketing and Sponsorship, vol. 12 no. 3
Type: Research Article
ISSN: 1464-6668

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Article
Publication date: 1 April 2012

Youngjin Hur, Yong Jae Ko and Cathryn L. Claussen

This study empirically tested the Sport Website Acceptance Model (SWAM), proposed by Hur, Ko and Claussen (2007). The SWAM added Perceived Enjoyment (Davis et al, 1992) and…

546

Abstract

This study empirically tested the Sport Website Acceptance Model (SWAM), proposed by Hur, Ko and Claussen (2007). The SWAM added Perceived Enjoyment (Davis et al, 1992) and Perceived Trustworthiness (Belanger et al, 2002) to the two factors Perceived Ease of Use and Perceived Usefulness used in the Technology Acceptance Model (TAM) (Davis, 1989). This study proposes a competing model to the original SWAM and compares this by incorporating two additional constructs, Sport Involvement (Shank & Beasley, 1998) and Psychological Commitment to a Team (Mahony et al, 2000). Structural equation modeling analyses revealed acceptable model fits, both in the original SWAM and in the competing model. Subsequent analyses led the authors to conclude that the competing model was the better version of the SWAM.

Details

International Journal of Sports Marketing and Sponsorship, vol. 13 no. 3
Type: Research Article
ISSN: 1464-6668

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Article
Publication date: 12 January 2015

Evgenia Vassilakaki and Valentini Moniarou-Papaconstantinou

This paper aims to provide a systematic review of the specific roles information professionals have adopted in the past 14 years. It aims to identify the roles reported in the…

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Abstract

Purpose

This paper aims to provide a systematic review of the specific roles information professionals have adopted in the past 14 years. It aims to identify the roles reported in the literature concerning developments in the Library and Information Science (LIS) profession.

Design/methodology/approach

This study adopted the method of systematic review. Searches were conducted in February and March 2014 on different LIS databases. From a total of 600 papers, 114 were selected, based on specific inclusion and exclusion criteria. A thorough full-text analysis of the papers revealed six roles that librarians have adopted: teachers, technology specialists, embedded librarians, information consultants, knowledge managers and subject librarians.

Findings

New and evolving roles were identified, mainly in the context of academic libraries. Librarians’ educational responsibilities and their active involvement in the learning and research process were highlighted in all role categories identified. Collaboration among faculty and librarians was reported as a way of ensuring successful instruction. Librarians’ personal views of their new and emerging roles were more frequently reported; further research is needed to shed light on academics, students and other users’ perceptions of librarians’ engagement in the learning process.

Research limitations

The study considered only peer-reviewed papers published between 2000 and 2014 in English. It focused on information professionals’ roles and not on librarians’ skills and their changing professional responsibilities.

Originality/value

This review paper considers the development of the LIS profession in a changing environment and offers an understanding of the future direction of the LIS profession.

Available. Content available
Book part
Publication date: 7 December 2016

Arch G. Woodside

Free Access. Free Access

Abstract

Details

Case Study Research
Type: Book
ISBN: 978-1-78560-461-4

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