{"title":"Stock Liquidity and Firm Value: The Mediating Role of Capital Structure","authors":"T. Mukherjee, Shubha Ranjan Dutta, Som Sankar Sen","doi":"10.4038/cbj.v14i2.158","DOIUrl":"https://doi.org/10.4038/cbj.v14i2.158","url":null,"abstract":"Despite the substantial volume of research on the direct relationship between stock liquidity and firm value, no agreement has been reached on this nexus. This relationship may be influenced by some other intervening factors which have not been captured in the empirical studies. The present study aims to explore the link between stock liquidity and firm value and empirically tests the mediating role of capital structure on this relationship in the Indian context. Using sample data from 97 National Stock Exchange (NSE) listed top non-financial firms from 2010 to 2019 and adopting the Baron and Kenny approach, the results show that higher stock liquidity leads to a greater firm value. Furthermore, firms with liquid stocks are found to have significantly lower leverage. The results also confirm that capital structure fully mediates the relationship between stock liquidity and firm value. The empirical findings have important managerial implications when it comes to devising policies to maximise firms’ value.","PeriodicalId":34572,"journal":{"name":"Colombo Business Journal","volume":"9 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139151531","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Impact of Users’ Comprehension of the Privacy Policy of FemTech Apps on their Information Disclosure Intentions: The Mediating Effects of Privacy Fatigue and Privacy Data Control","authors":"Neethu Mohan, K. A. Zakkariya","doi":"10.4038/cbj.v14i2.160","DOIUrl":"https://doi.org/10.4038/cbj.v14i2.160","url":null,"abstract":"FemTech stands for female technology, which encompasses a wide range of software, products, and services designed to improve women's health through technology. Personal data used in this type of app are intimate, which highlights the importance of privacy, and therefore, comprehensibility of the privacy policies of such apps. This study explores the effect of user comprehension of privacy policies on their information disclosure intention through mediators such as privacy fatigue and privacy data control, which have rarely been studied. A scenario-based questionnaire was used to collect data from 236 females and SMART PLS 4.0 was used to conduct the analysis. Findings indicate that both mediators have an indirect-only mediation effect; however, the direction of the impact of privacy fatigue on disclosure intention was opposite to what was hypothesised. Privacy data control was found to be the stronger mediator. This study entails implications for privacy policymakers and mobile health application providers.","PeriodicalId":34572,"journal":{"name":"Colombo Business Journal","volume":"16 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139149879","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Social Entrepreneurship and Sustainable Development: A Bibliometric Analysis","authors":"Megha Garg, Parveen Kumar","doi":"10.4038/cbj.v14i2.159","DOIUrl":"https://doi.org/10.4038/cbj.v14i2.159","url":null,"abstract":"Social entrepreneurship incorporates characteristics from several disciplines, but lacks a dominant framework and literature though it is a rapidly expanding area. Therefore, our paper aims to carry out bibliographic mapping of relevant publications with the help of Biblioshiny software (R studio) and VoSviewer based on the publications in the Scopus database. The primary outcomes indicated an upsurge in the interest of scholars particularly after 2015. The analysis displays that a significant number of publications originated from industrialised Western countries and suggests that the research field is quite new-fangled and requires authors to collaborate with each other. Moreover, numerous sustainability-related themes have been discovered through keyword co-occurrence analysis. The themes identified here are significant for practitioners and regulators who seek to take advantage of the synergy existing between our research areas. The directions for future research studies can be guided by quantitative research from underdeveloped nations or emerging economies.","PeriodicalId":34572,"journal":{"name":"Colombo Business Journal","volume":"2 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139150037","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Socioemotional Wealth and Financial Performance of Single-Family-Owned Food Processing Firms: Evidence from Tanzania","authors":"G. Lubawa, Gwahula Raphael","doi":"10.4038/cbj.v14i2.162","DOIUrl":"https://doi.org/10.4038/cbj.v14i2.162","url":null,"abstract":"This study assessed how Socioemotional Wealth (SEW) influences the financial performance of single-family-owned firms in the same industry. Previous research on family firms has yielded conflicting results. Thus, this study fills a gap. Data is collected from firms' owners using a structured questionnaire. Family continuity, family prominence, and family enrichment are used to measure the SEW. The financial performance was subjectively assessed. Multiple regression analysis is used to examine the data obtained from 267 firms. The findings suggest that the three dimensions of SEW - family continuity, family enrichment and family prominence - significantly influence single-family-owned firms' financial performance (p = 0.00). This study adds context-specific insights, empirical facts, and a deeper understanding of family-owned firms' subjective financial performance to the SEW development literature—the discipline of SEW theory and its application benefit from its research and practice implications. Future research should examine how firm culture affects SEW-financial performance ties by employing a larger sample.","PeriodicalId":34572,"journal":{"name":"Colombo Business Journal","volume":"58 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139150491","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Perceived Employer Branding, Employee Engagement and Employee Outcomes: A Proposed Mediation Model","authors":"Aanchal, Heena Atwal","doi":"10.4038/cbj.v14i2.156","DOIUrl":"https://doi.org/10.4038/cbj.v14i2.156","url":null,"abstract":"This paper develops a conceptual framework to understand the relationship between perceived employer branding, employee engagement, and desirable attitudinal and behavioural outcomes. This conceptual framework proposes employee engagement as a mediator between perceived employer branding and different attitudes and behaviours such as job satisfaction, organisational commitment, turnover intention, task performance, and organisational citizenship behaviour in accordance with social exchange theory and the job-demand resources model. The paper expanded the research on employer branding by presenting a comprehensive framework incorporating engagement as a mediator between perceived employer branding and several new outcome variables, namely, job satisfaction, turnover intention, and task performance. With this comprehensive conceptual framework, a foundation has been laid for future researchers to verify the relationship between these constructs empirically. Further, implications have been suggested for organisations in designing their human resource policies and practices.","PeriodicalId":34572,"journal":{"name":"Colombo Business Journal","volume":"24 s1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139150128","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Simon, P., Too Big to Ignore: The Business Case for Big Data","authors":"A. W. J. C. Abeygunasekera","doi":"10.4038/cbj.v14i2.164","DOIUrl":"https://doi.org/10.4038/cbj.v14i2.164","url":null,"abstract":"No abstract available","PeriodicalId":34572,"journal":{"name":"Colombo Business Journal","volume":"333 8","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139152554","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Business Cycles and Capital Structure Choices: Evidence from India","authors":"A. Bhatia, Pooja Kumari","doi":"10.4038/cbj.v14i2.154","DOIUrl":"https://doi.org/10.4038/cbj.v14i2.154","url":null,"abstract":"The paper explores variations in leverage ratios of industries grouped on the basis of business cycles – as growth industry, defensive industry and cyclical industry. Leverage is measured using Total debt to Net worth ratio, Long term debt to Net worth ratio and Short term debt to Net worth ratio. The debt ratios of industries are evaluated during two time phases– Phase I (2008/09 to 2012/13) and Phase II (2013/14 to 2017/18). The sample consists of 172 companies randomly selected from the largest 500 companies in India. The results suggest significant variations in the debt ratios of industries in each of the time phases. The results also show statistically significant variations in total and long-term debt ratios between Phase I and Phase II. The study is distinct as it gives a new insight into the capital structure decisions of industries using a novel industrial classification base.","PeriodicalId":34572,"journal":{"name":"Colombo Business Journal","volume":"28 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139149734","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Bolden, R., Gosling, J. and Hawkins, B. (Eds), Exploring Leadership: Individual, Organizational and Societal Perspectives (2nd Edition)","authors":"W. Fourie","doi":"10.4038/cbj.v14i2.163","DOIUrl":"https://doi.org/10.4038/cbj.v14i2.163","url":null,"abstract":"No abstract available","PeriodicalId":34572,"journal":{"name":"Colombo Business Journal","volume":"28 38","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139148161","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Rethinking Authentic Leadership: Insights from a Study of Female Entrepreneurs","authors":"Peter Stephenson","doi":"10.4038/cbj.v14i1.146","DOIUrl":"https://doi.org/10.4038/cbj.v14i1.146","url":null,"abstract":"The critiques of Authentic Leadership Theory (ALT) require us to reconsider the concept of authenticity in leadership. Through semi-structured interviews with 14 female entrepreneurs in the United Kingdom (UK), this study sought to establish whether the concept of authenticity in leadership has practical applicability for female entrepreneurs. Support was found for the strongest critiques of ALT, and a consensus was identified among the participants that being authentic in leadership is a balancing act between the values of the individual and the values of (and duties to) the organisation and its members. The study also found that, as entrepreneurs, the participants did not experience the challenges of being authentic leaders that extant literature has shown females in other roles to be experiencing. The findings lead to the proposition that the concept of ALT is abandoned and replaced by a more fluid understanding that acknowledges the complexities and subjectivities associated with the notions of ‘leading with authenticity’.","PeriodicalId":34572,"journal":{"name":"Colombo Business Journal","volume":"162 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85975528","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Character, Company and Context: A Practical Framework for Leaders Under Pressure","authors":"Ruth Turner, J. Gosling","doi":"10.4038/cbj.v14i1.142","DOIUrl":"https://doi.org/10.4038/cbj.v14i1.142","url":null,"abstract":"Leadership as practised by individuals, through collective effort and as a social accomplishment is affected by the personal character of the principal actor(s), the company they keep, and responses to more and less controllable aspects of context. These factors (character, company and context) become especially salient during crises. We develop and illustrate this heuristic by reflecting on the lived leadership experience of the first author. We conclude with a discussion of the applicability and limitations of the heuristic, especially where the legitimacy and responsibilities of leaders are highly contested. We thereby address three practical questions: (a) what leaders can and should do to form, strengthen and sustain the contributions of others to their leadership practice, (b) how subalterns, deputies or counsellors can assist a leader in this, and (c) how to develop the readiness and ability of leaders, subalterns, etc. to work in this way.","PeriodicalId":34572,"journal":{"name":"Colombo Business Journal","volume":"51 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88078096","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}