Corporate governance and the sensitivity of investments to cash flows

We find very strong and consistent evidence that investments in Strong‐Governance firms (managers not entrenched) are strongly sensitive to availability of internal cash flows while such sensitivity is not different from zero for Weak‐Governance firms (entrenched management). We interpret this as evidence in support of Kaplan and Zingales' (1997) contention that sensitivity of investments to cash flows is not an adequate measure of financing constraints. More importantly, our findings are consistent with Kaplan and Zingales’ conjecture that the observed sensitivity of investments to cash flows in firms that do not face financing constraints may be driven by excessive risk aversion of managers.     

Ownership structure,size, and interest income substitution by banks: An exploratory study in the Indian context

This study explored how emerging economy banks are rebalancing their interest income and non-interest income to ensure stability. We set our study in India during the period 2005–2017. Interestingly, we observe that time–series correlation of interest income growth and non-interest income growth for public sector banks as well as for private banks is on the negative side. We applied panel vector auto regression and generalised method of moments methodology. This study found that when bank interest income falls, they try to increase their non-interest income to offset their losses to a certain extent, and the trend is increasing. Public sector banks are overall substituting non-interest income for a reduction in the margin, and there is an increasing trend for this substitution. Based on the size of banks, it has been found that change in non-interest income in the subsequent year due to change in interest income in the previous year is there for large banks, whereas no such significant change has been found in case of small banks.     

What motivates the adoption of green restaurant products and services? A systematic review and future research agenda

Issues regarding green restaurants have received significant scholarly and practitioner attention in the last decade, particularly concerning why consumers adopt green restaurants. Although several reviews exist on green hospitality, a comprehensive review of the literature on consumers' green restaurant adoption is currently lacking. The following systematic literature review examines 50 research studies published on the consumer adoption of green restaurant services to address this gap accordingly. Through a detailed content analysis, the research profile and thematic analysis are presented. The review further identifies four key thematic foci: (a) consumer behavior variables studied, (b) antecedents internal to the consumer, (c) antecedents due to the perception of external factors, and (d) moderators. Limitations and gaps from each of the themes are offered with potential future research questions. The novelty of the review lies in the development of a “green restaurant adoption research framework” that cuts across multiple theoretical perspectives to summarize why consumers adopt green restaurant services.     

Consumer Acceptance of Camel Milk in Emerging Economy

Abstract

Camel is considered as an indispensable part of desert eco-framework across the globe. Apart from helping in transport, it is also used for its milk. Camel's milk is used worldwide because of its salty taste. However, it has many beneficial effects such as cure for autism and helps to control diabetes, allergy, and also prevents liver cirrhosis. Objective of this study is to analyze the ways to make people purchase and consume camel milk. In the last few years, awareness about nutritional and medicinal benefits of camel milk has rapidly increased. Consequently, the demand of the product has also increased. Objective of this article is to analyze the consumers’ willingness to buy camel milk before and after knowing its health benefits. It also explores the linkage between lifestyle diseases and consumer’s willingness to buy. We analyzed data in two stages. Initially, we did qualitative analysis with twitter text mining to understand customer’s sentiments about camel milk. Later, primary data was collected through structured questionnaire from a sample of 120 respondents by convenience sampling for quantitative analysis. There is a significant increase in the proportion of people willing to buy camel milk and once they were aware of the benefits, people are willing to buy more after knowing the benefits. People exposed to lifestyle diseases are more willing to buy camel milk. Hence, support of market-based awareness campaigns to stimulate demand for quality camel milk among consumers can be realized through information dissemination and awareness campaign.     

“New Normal” implications for global talent in the wake of economic nationalism and slowdown

As a result of global economies' protectionist policies, followed by economic nationalism and a downturn, there is a shortage of talent with the requisite skills, knowledge, and abilities to meet the contingencies amid COVID-19. The recent developments have necessitated multinational businesses to manage their talent in a new international business context. Therefore, the purpose of this paper is to explore the implications of the “New Normal” for global talent which is manifested by economic nationalism and slowdown. This study used an inductive method to qualitative research, conducted in-depth interviews with 28 top executives from multinational corporations. The implications for the global talent emerged from the current study as skill enhancement based on the emerged business model; training and development pertinent to new responsibilities and activities; adaptability to changes in the macroenvironment; emphasis on employee proactivity, experimentation, and risk-taking; emphasis on hyperspecialization to take on contract positions; global talent needs to participate in remote learning; global talent must emphasize on mental health issues; and registering in talent exchange programs to fill talent skill shortages.     

Consumers’ Behavioral Intentions Toward Self-Service Technology in the Emerging Markets

ABSTRACT

Self-service technologies (SSTs) allow customers to offer their own service encounters via the interaction of electronic service interfaces or machines rather than by interacting with a firm's service personnel. This lack of personal interaction generates doubts and queries in the minds of the people, especially those unaware or less aware of these technology-based services. Such a situation is quite prevalent in the developing nations (like India), where still a large number of people are apprehensive about using the latest technologies. In this regard, the present study aims to develop an integrated model designed to predict and explain the various factors that influence customers’ behavioral intentions to use or not to use one particular SST (i.e., ATM services). The study finds that bank customers are less innovative and less optimistic to try out new technologies. Usefulness of the technology helps in developing positive attitude toward the technology, which in turn affects customers' intentions to use that technology.     

Relating strategic market orientation and market performance: role of customer value types

A service provider achieves competitive advantage by configuring appropriate strategic orientation and customer value type. This paper addresses three important issues: (i) which customer value type (economical, relational or technical) is important for bank customers? (ii) which strategic market orientation (customer or competitor) helps in achieving the desired value type? and (iii) which value type significantly predicts market performance? We propose that a strategic market orientation pursued by a firm shall influence the customer value it intends to offer so as to maximize the market performance. Using data collected from 538 bank customers, this study reveals that when there is a perfect match between strategic market orientation and value being perceived by its customers, a firm shall achieve strategy-value fit and realize optimal market outcomes in the form of customer satisfaction, acquisition, retention, cross-selling, and up-selling. Furthermore, a bank shall realize maximum level of market performance if it pursues both customer and competitor orientation and endeavors to deliver technical/functional value to its target customers. The paper concludes with managerial implications and future research directions.     

Toward a greater understanding of the market orientation and internal market orientation relationship

The study explores the relationship between market orientation (MO) and internal market orientation (IMO) using the process model of MO development. Data from 370 nonprofit organizations were analyzed using structural equation modeling with maximum likelihood estimation technique. The comprehensive CFA marker method was used to partial out the influence of social desirability bias on the substantive relationships. The study finds that MO works through IMO to elicit desirable employee outcomes, which also contributes to performance outcomes. IMO does not offer direct performance benefits, but it partially mediates the effect of MO on employee-related outcomes. Competing models offering alternative explanations are ruled out empirically by the superior fit of the theoretical model with the data. The study integrates IMO in Kohli and Jaworski’s model of antecedent and consequences of MO and encourages practitioners to embed IMO in their MO development plans.     

Infrastructure Development and FDI Inflow to Developing Economies: Evidence from India

Nowadays, developing economies are becoming the preferred destination of foreign direct investment (FDI) inflow. We draw insights from Dunning's eclectic paradigm to explore how FDI inflow is influenced by the quality of the physical infrastructure and human resources of the host country. We investigate various India‐specific infrastructural factors affecting FDI inflow between 1991 and 2010. Our empirical findings indicate that factors like railway transportation and road network as well as the quality of human resources played a crucial role in attracting FDI. However, air transportation or communication infrastructure is yet to play a significant role. Our study makes a modest attempt to identify areas of concern and scope for the further improvement of India's infrastructure facilities to attract foreign investment in the future. © 2016 Wiley Periodicals, Inc.     

Women's Perceived Empowerment in Entrepreneurial Efforts: The Role of Bricolage and Psychological Capital

Women's entrepreneurial empowerment—perceived competence, self‐determination, and ability in managing a firm as an entrepreneur—is important to women's entrepreneurship in developing countries. Drawing on a sample of 369 women entrepreneurs from small and medium enterprises (SMEs) located in Gujarat, a western state in India, we find that women's entrepreneurial empowerment is positively associated with firm revenues. Gains from empowerment could be further enhanced for women entrepreneurs managing resource constraints—through bricolage—and meeting the challenges of self‐employment—through psychological capital. The present study contributes to literature on women's entrepreneurial empowerment and SME performance. Women's empowerment and the bolstering effects of bricolage and psychological capital could help government agencies and non‐government organizations devise programs and policies to improve the performance of women‐owned SMEs in developing countries.