Global Business and Finance Review最新文献

{"title":"Does stock influencer on social media and financial well-being affect the stock market participation of the young generations during the Covid-19 pandemic?","authors":"Yunita Wijaya Handranata, Muhtosim Arief, D. Warganegara, M. Hamsal","doi":"10.17549/gbfr.2022.27.5.115","DOIUrl":"https://doi.org/10.17549/gbfr.2022.27.5.115","url":null,"abstract":"Purpose: This research aims to study whether there is a relationship between stock influencers and financial well-be- ing on stock market participation. \u0000Design/methodology/approach: The research method used in this research is quantitative, with 184 respondents spread over six major islands in Indonesia. The data is processed with SmartPLS 3.0 software. \u0000Findings: The study results show a positive and significant influence between stock influencers and financial well-be- ing on stock market participation mediated by intention to invest. However, the direct relationship between stock influencers and financial well-being to stock market participation was found to have no effect. \u0000Research limitations/implications: This research contributes to the development of financial studies related to capital market participation in Indonesia which is still very limited. The government needs to pay attention to stock influencers and financial well-being, which can significantly impact stock market participation. Socialization and education programs can be carried out informally in collaboration with influencers and focus on increasing knowledge about stocks and managing personal and household finances. \u0000Originality/value: This study adopts variables to capture new phenomena that occurred during the COVID-19 pandemic.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90177182","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":"Ichimoku Cloud Forecasting Returns in the U.S.","authors":"Matthew Lutey, David Rayome","doi":"10.17549/gbfr.2022.27.5.17","DOIUrl":"https://doi.org/10.17549/gbfr.2022.27.5.17","url":null,"abstract":"Purpose: We show that the Ichimoku Cloud can forecast stock returns in the U.S., Canada, Germany, and U.K. \u0000Design/methodology/approach: We use a regression of next months index return regressed on the Ichimoku Cloud entry signal for price crossing above 9 periods, 26 period, 52 periods and a crossover between 9 and 26 periods. The regression slope coefficient is recorded as the risk premium return. We also record the t-statistic and R2 of the model. We note that T-statistics of 1.65 are statistically significant. R2 is economically significant with a value above .5 percent. \u0000Findings: This is showing real-time application how the current Ichimoku Cloud signal can predict tomorrow’s stock return. The strongest results occur for lagged values one period in the U.S. which shows initial justification to using the Ichimoku Cloud. We additionally show the Ichimoku Cloud entry signals are strong in regards to T-statistics and R2 when benchmarked on each of the equity markets in the U.S., Canada, Germany, and U.K. \u0000Research limitation/implications: The model only considers technical indicators for forecasting risk premium and could benefit from additional indicators or macro fundamentals. \u0000Originality/value: This is the first paper to use Ichimoku Cloud in the risk premium forecast framework.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":"14 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90295384","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":"Effect of the elderly on household's financial transactions: Evidence from Japan and Korea","authors":"Young-min Kim","doi":"10.17549/gbfr.2022.27.4.97","DOIUrl":"https://doi.org/10.17549/gbfr.2022.27.4.97","url":null,"abstract":"Purpose: This study investigates the effect of the elderly on the household's financial transactions in Japan and Korea. \u0000Design/methodology/approach: Using financial transactions from Japanese and Korean central banks from 2009 to 2020 on a quarterly basis, this study employ AR (1) for estimation. Financial assets are largely classified into currency, stock, bond, and insurance while the elderly are divided into 60s,70s, and 80s. \u0000Findings: The size of those aged over 70 and 80 has a relatively more significant effect on the financial transactions in Japan and Korea. The growth of those aged 60 has a significant effect on the household's financial transactions in Japan while the growth of 80+ has a more significant effect in Korea. The interaction between the size and growth of those in their 60s and 80s+ has the most significant effect on the household's financial transactions in Japan and Korea, respectively. The interaction between the growing elderly population and life expectancy has no effect on the financial transactions in Japan while it has a significant effect in Korea. \u0000Research limitations/implications: This study implies that the elderly gives different effect on household's financial transactions. Also, each old age cohort such as 60s, 70s, and 80s has different effect on the transactions. \u0000Originality/value: This study proposes that the size and growth of the elderly both gives different effect on risky and non-risky financial transactions.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":"60 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82046154","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":"The Impact of the COVID-19 Pandemic on Household Financial Well-being","authors":"Sami N. M. Abushammala","doi":"10.17549/gbfr.2022.27.4.65","DOIUrl":"https://doi.org/10.17549/gbfr.2022.27.4.65","url":null,"abstract":"Purpose: The current research is one of the few studies investigating the impact of COVID-19 on shattered households' financial well-being in light of Friedman's Theory of Consumption Function. It explored if there are statistical differences in the impact of COVID-19 due to the demographic variables of the study. \u0000Design/methodology/approach: The study is descriptive and analytical. It used an online survey that targeted respondents representing 387 Palestinian households randomly selected from the community of the Gaza Strip. \u0000Findings: The results showed a negative impact of the COVID-19 pandemic on households' financial well-being. It also revealed these households' lack of financial resilience due to the combined effect of the pandemic and the concurrent siege and its economic drawbacks. The statistical results demonstrated no statistically significant differences in the households' mean financial well-being scores due to gender before and during the COVID-19 pandemic. In contrast, it was found that there are statistically significant differences in the households' mean scores of financial well-being due to the (education level, number of household members, employability status, and the number of households' breadwinners) before and during the COVID-19 pandemic. \u0000Research limitations/implications: The researcher conducted an online survey among the general population in the Gaza Strip during the COVID-19 pandemic between the 2nd and 5th of June 2021. Although the results of this study are based on the Palestinian context, the main hypotheses can be tested in other countries to assess the impact of COVID-19 on household financial well-being, especially in emerging countries. \u0000Originality/value: This study is the first to address the financial and economic effects of the COVID-19 pandemic on households already shattered and torn by suffrage political and economic inequalities. It also demonstrates how people in emergencies tend to respond to the resulting conditions of the pandemic in the light of Friedman's Theory of the Consumption Function.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":"30 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85052245","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":"A Multilevel Study of the Relationship between Leader Agreeable Communication Style and Team Creativity: Knowledge Sharing as Mediator and Knowledge Ownership as Moderator","authors":"S. Choi, Jae-Geum Jeong","doi":"10.17549/gbfr.2022.27.4.27","DOIUrl":"https://doi.org/10.17549/gbfr.2022.27.4.27","url":null,"abstract":"Purpose: This study investigated the positive effects of a leader agreeable communication style on team creativity and team- and individual-level knowledge sharing. Also verified was the extent to which the level of effect of a leader agreeable communication style on team- and individual-level knowledge sharing varies depending on the team members’ self-perception of knowledge ownership, applying a multilevel analysis to concurrently deal with team- and individual-level relations. \u0000Design/methodology/approach: The 69 teams consisting of 350 employees were collected from Korean companies. We conducted a multi-level analysis to confirm the effect of the control variables on the relationship between the group level and the individual level, which affects team creativity. Analytical methods were performed by using HLM (Hierarchical Linear and Nonlinear Modeling) 7.01. \u0000Findings: The analysis results confirmed the positive effect of a leader agreeable communication style on both team creativity and team- and individual-level knowledge sharing. Team knowledge sharing was found to completely mediate and individual-level knowledge sharing to partially mediate, between leader agreeable communication style and team creativity. Whereas the effect of a leader agreeable communication style on individual knowledge sharing was negatively intensified with the increase in team member’s perception of individual knowledge ownership, it yielded insignificant results in terms of team knowledge sharing. \u0000Research limitations/implications: This study expanded the understanding of source of team creativity by developing theoretical framework of the relationship between an agreeable leader’s communication style and individual and team knowledge sharing and team creativity. \u0000Originality/value: This study identified originally an agreeable leader’s communication style as an important antecedent variable of knowledge sharing. In addition, by using a multilevel analysis model, this study first found that an agreeable leader’s communication style had a significant effect on team creativity through the mediation of individual and team knowledge sharing.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":"20 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79793159","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":"The Effect of Soft Skills on Organizational Performance: The Mediating Role of Resilient Leadership","authors":"D. S. W. P. J. Widakdo","doi":"10.17549/gbfr.2022.27.4.17","DOIUrl":"https://doi.org/10.17549/gbfr.2022.27.4.17","url":null,"abstract":"Purpose: This study aimed to examine the resilient leadership’s ability to mediate the effect of workability, discipline, and communication or soft skills on organizational performance. \u0000Design/methodology/approach: This leadership performance assessment study used Structural Equation Modeling (SEM) applied to Organizational Behavior with case studies of State companies. Data were collected using in-depth interviews with regional leaders and online questionnaires distributed to participants from State-Owned Enterprises (BUMN) engaged in food logistics in the East Java Province, Indonesia. \u0000Findings: This study found a positive and significant effect of workability, discipline, and communication on leadership resilience and organizational performance mediated by leadership improvement. This showed that strong leader- ship increases the influence of soft skills on the company's organizational performance. \u0000Research limitations/implications: This study only assessed the organizational leaders’ performance within the scope of the BULOG East Java Regional Office, meaning the research results cannot be generalized. It also tested the differences between samples by comparing the organizational performance of several companies’ sectors. \u0000Originality/value: This study linked soft skills comprising workability, discipline, communication, and personality, with organizational performance mediated by tough leadership.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":"252 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72960219","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":"The Theory of Planned Behavior and Food Choice Questionnaire toward Organic Food of Millennials in Vietnam","authors":"Hung Cuong Hoang, M. Chovancová, T. H. Hoang","doi":"10.17549/gbfr.2022.27.4.81","DOIUrl":"https://doi.org/10.17549/gbfr.2022.27.4.81","url":null,"abstract":"Purpose: People have become more aware of environmental issues in their community, which has changed their food choices and how they buy green products, especially organic food. This study aimed to combine the food choice questionnaire (FCQ) and the theory of planned behavior (TPB) to examine the effect of the food choice questionnaire on customers' attitude related to the purchase intention of millennials in Vietnam. \u0000Design/methodology/approach: Data is collected from the three most prominent cities in Vietnam with 520 millennial respondents. The data is tested against the research model using structural equation modeling with SMART-PLS 3.2. \u0000Findings: The results indicate that the food choice questionnaire significantly affects customers' attitude toward the organic food of millennials in Vietnam. Moreover, the investigation confirmed the theory of planned behavior toward organic food purchasing of millennials in Vietnam. \u0000Research limitations/implications: For the limitation, organic food is studied in this investigation exclusively within a certain geographic area. For the academic implication, the contributions of this investigation are that it updates impacts of the food choice questionnaire based on the TPB in the context of millennials' intentions to purchase organic food in Vietnam. This study can enrich the literature on the combination of FCQ and TPB in the study of consumers' choice of organic food products. For the practical implication, businesses will comprehend the significance of the food choice questionnaire for millennials in Vietnam who intend to purchase organic food. For future research, the practitioners can use this study's model to examined in a variety of contexts, such as concerning eco-friendly items. In addition, this model can generally be applied to other food products such as conventional food, safety food, and products in restaurants or food stores. For academicians, the model can extend and develop additional constructs related to personality. For example, combining the big five personality traits, FCQ, and the TPB will further investigate which customer personality influences the intention to purchase food products. \u0000Originality/value: Contribute to the extension of TPB with the combination of FCQ and TPB and the study of millennials in Vietnam toward organic food purchasing intention.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":"4 2 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87375029","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":"Relationship of Social Sustainability, Operational Performance and Economic Performance in Sustainable Supply Chain Management","authors":"N. Duong","doi":"10.17549/gbfr.2022.27.4.46","DOIUrl":"https://doi.org/10.17549/gbfr.2022.27.4.46","url":null,"abstract":"Purpose: Over the past two decades, sustainable development and green economy approaches have been implemented in different fields, including supply chain management. In developed countries, sustainable supply chain management (SSCM) has attracted attention from both academia and industry. However, there is a substantial knowledge gap about supply chain social sustainability in developing countries. Hence, the main purpose of this study is to present the link between social sustainability and economic performance with the mediating role of operational performance in sustainable supply chain management. \u0000Design/methodology/approach: The PLS-SEM model is applied to identify factors affecting social sustainability and the relationship between social sustainability, operational performance, and economic performance in Vietnam. \u0000Findings: The study broadens the concept and emphasizes the importance of sustainable development in the context of Vietnam and provides recommendations for managers on strategic planning and developing business towards sustainability. This study also encourages managers to enrich employees’ welfare and working conditions and con- tribute to the local community. \u0000Research limitations/implications: The social indicators in developing countries are distinct from those in developed countries. Hence, this study may only apply in the context of developing countries. There are three main pillars of sustainable development, including economic (profit), environment (planet), and society (people). In this research, the author only examines the social and economic aspects. \u0000Originality/value: The outcomes of this study demonstrate a clear link between the social and economic elements of sustainability. While demonstrating how fully implemented Social sustainability improves economic performance, this study stimulates academic research about the interrelationship of sustainability elements in supply chains.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":"10 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72498638","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":"An Empirical Analysis of a Stock Market Index of a Developing Country: Case of the Main Index of the Casablanca Stock Exchange MASI","authors":"Wiam Zaimi","doi":"10.17549/gbfr.2022.27.4.1","DOIUrl":"https://doi.org/10.17549/gbfr.2022.27.4.1","url":null,"abstract":"Purpose: Managing stock market risk and making an optimal investment decision in a stock market requires study- ing the dynamics of this market and analyzing the fluctuations of its benchmark index in order to avoid heavy damage in the event of crises. This paper aims to study and analyze the fluctuations of the main index of the Casablanca Stock Exchange \"MASI\" to explore its efficiency and stability in the normal financial context (especially before the recent pandemic crisis). \u0000Design/methodology/approach: To carry out this study, two methods are proposed, the first one, how evolves this index over time depending on some random data generation processes widely used for stock prices: A Random Walk with a drift RW(α) and an autoregressive process of order 1 AR(1). Based on the actual MASI returns series used (2007-2018), we estimate each equation parameter according to the process chosen to generate the artificial MASI returns series to know the most relevant data generation process in the case of The Moroccan financial market. The second method focuses on the technique of \"simple moving average\" as a method of stock prices fluctuation analysis to make its investment decision, choosing the proper order on the same series. \u0000Findings: The results and findings of our econometric study show, in the first method, that either the RW(α) or the AR(1) process cannot adequately model MASI fluctuation. However, the results of the second method affirm the utility of the simple moving average to identify trends, their strength and buy / sell signals, using some techniques known in this field, in order to make decisions and draw interpretations in investment terms and risk management, which can prove that the market is less efficient and stable. \u0000Research limitations/implications: An important implication of this study is the need to explore the efficient models to describe the MASI return series. \u0000Originality/value: This study offers empirical evidence in relation to the estimation of the econometric model to describe MASI and how to make adequate investment decisions in the Moroccan stock market. Moreover, contributes to future research to find other more appropriate models.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":"296 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75406952","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":"Transmission Mechanisms of Executive Compensation to Cost of Equity Capital","authors":"K. Sanoran","doi":"10.17549/gbfr.2022.27.4.108","DOIUrl":"https://doi.org/10.17549/gbfr.2022.27.4.108","url":null,"abstract":"Purpose: The nature of each component of executive compensation varies, resulting in variances in executive incentives and investor pricing. To examine whether there is a differential relation between executive compensation components and cost of equity capital, this study decomposes the effects of executive compensation components on the cost of equity capital into wealth alignment, contribution, time horizon, and equity incentive effects. \u0000Design/methodology/approach: The hypotheses on the impact of each transmission mechanism of executive compensation component are separately developed in this study. The regression analyses are based on a sample of 11,649 firm-year observations of the U.S. listed companies during 1998-2014. \u0000Findings: The findings support all hypotheses by showing a significant reduction in cost of equity capital for bonus plans, long-term performance plans, and shareholdings, but a significant increase in cost of equity capital for salary and stock option. \u0000Research limitations/implications: The conclusions of this study are based on an examination of publicly listed companies in the United States; the hypotheses can be tested in other countries with various business environments and cultures. \u0000Originality/value: This study is a first attempt to explain the transmission mechanisms of executive compensation components and cost of equity capital by presenting evidence in support of wealth alignment effect, contribution effect, time horizon effect, and equity incentive effect.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":"17 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85160598","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}