Lahore Journal of Business最新文献

{"title":"Retaining Talent: The Role of the Personal and Contextual Factors","authors":"T. Islam, Z. Ahmer, Naeem Mushtaq","doi":"10.35536/ljb.2019.v8.v2.a2","DOIUrl":"https://doi.org/10.35536/ljb.2019.v8.v2.a2","url":null,"abstract":"Earlier studies have focusedontheattitudinal and behavioral aspects of employee turnover. However, this study empirically investigates the contextual (i.e.job complexity, developmental feedback and perceived organizational support) and personal (i.e.proactive personality and core self-evaluations) aspectsin order toelucidate turnover intention among the private sector universities of Pakistan. The study used a questionnaire-basedsurvey that was circulated amongst thefaculty members of theprivate universities,and 758responses were usedfor the final data analysis. Moreover, the structural equation modelingwas appliedandrevealed thatcore self-evaluation, developmental feedback, job complexity and perceived organizational support are negatively associated with turnover intention. However, the element of proactive personality was found to haveanon-significantassociation with turnover intention.This study has theoretical and practical implications for universities and recruitment departments.","PeriodicalId":439737,"journal":{"name":"Lahore Journal of Business","volume":"08 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130416982","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 Humorand Purchase Intention:Mediating Role of Attitude towards the Advertisement and Brand","authors":"I. Hameed, Muhammad Babar Khan, A. Shahab","doi":"10.35536/ljb.2019.v8.v2.a3","DOIUrl":"https://doi.org/10.35536/ljb.2019.v8.v2.a3","url":null,"abstract":"In order to investigate the purchase intention of the customers, and its relationship with perceived humor, this research analysesdifferent types of humor that havebeen used in advertising campaigns. In this regard, multi-mediation analysis has been applied keeping in mind the perspective of humor in advertising; moreover, attitudes towards the advertisement, and attitudes towards the brand are used as sequential mediators. In addition, self-monitoring and message arguments have also been included as moderators in order to estimate the interaction effect in theproposedmodel. The data has been gathered from 617 respondentsafter showing them relevant advertisements. After checking the normality of the data, the Confirmatory Factor Analysis was applied using AMOS. Also, Simple Linear Regression was used to test simple relationships; however, complex models have also been tested by usingthe hierarchal regression (to test moderation), and the bootstrapping (to test mediation) methods. A good fitbetween the data and the tested model was observed. As predicted, the purchase intentions were positively related to perceived humor, and evidence of full mediation effect was found. However, for the moderation of self-monitoring and message arguments, the findings were distinctive. In reality, this research can be used by mature brands which mostly require the use of persuasive advertising. As the results of different types of humor, collectively, are significant, it can be inferred that companies must use a mix method approach in terms of types of humor they might resort to in their advertisementcampaigns. Findings are particularly noteworthy for national and multinational media agencies in Pakistan, as well in the other parts of the world.","PeriodicalId":439737,"journal":{"name":"Lahore Journal of Business","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122732690","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":"Sovereign Wealth Funds’ Affiliation and Acquisition\u0000Premium: Evidence from the Asia-Pacific Region","authors":"A. Khalid, G. Rubbaniy, M. Rizwan, H. Chaudhry","doi":"10.35536/ljb.2019.v8.i1.a2","DOIUrl":"https://doi.org/10.35536/ljb.2019.v8.i1.a2","url":null,"abstract":"This study aims to extend the signaling theory, by offering the buy-side\u0000sovereign wealth fund’s (SWF) affiliation as a signal of the acquisition premium.\u0000Using the mergers and acquisitions (M&As) deals’ data from Asia-Pacific, over the\u0000period from 2000-2017, the results reveal that the effect of buy-side SWF’s affiliation,\u0000on the acquisition premium of target firms is negative, and statistically significant\u0000in the North Asian region. Our cross-country analysis shows a negatively\u0000significant effect of the buy-side SWF’s affiliation on the acquisition premium in\u0000China. The findings of our sectoral analysis report a significantly adverse effect of\u0000SWF’s affiliation on the acquisition premium in the energy and cyclical goods sector.\u0000This suggests that the SWFs are likely to be more influential in M&As deals that are\u0000conducted in the strategic sectors. Our findings demonstrate that the buy-side\u0000SWF’s affiliation can be used as a signal of quality. That is to say that this affiliation\u0000increases the bargaining power of buyers to reduce the acquisition premium for\u0000targets. The findings are particularly important for the managers of firms managing\u0000SWFs’ investments, as they can negotiate better deals with the targets due to the\u0000managers’ affiliation with the SWFs.","PeriodicalId":439737,"journal":{"name":"Lahore Journal of Business","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126593387","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 Downside Risk on Expected Return: Evidence from Emerging Economies","authors":"H. Raza, Arshad Hasan, A. Rashid","doi":"10.35536/ljb.2019.v8.i1.a5","DOIUrl":"https://doi.org/10.35536/ljb.2019.v8.i1.a5","url":null,"abstract":"This paper investigates the comparative relationship between the downside risk adjusted CAPM and traditional CAPM. The premise of the traditional CAPM is that the expected return is based on the incidence of systematic risk (beta), which has been assumed to be homogenous for both the developed, and the emerging stock markets. However, empirical results are not aligned with this assumption, as the basic risk and return relationship happens to be negative, and insignificant in the case of emerging markets. This may be due to the emerging stock markets’ distinct characteristics (i.e. high volatility, low liquidity, and less availability of historical data). To deal with the said issue, extent literature supports the use of the semi-variance methodology (SV-M) for emerging markets, instead of the mean-variance (M-V) method. Therefore, this study referred to the Fama and Macbeth (1973) methodology that was applied over monthly data ranging from June, 2000 to June, 2018. Results indicate that there is a positive relationship between the risks (downside and traditional beta) and the expected return. Moreover, results also reveal that downside risk has more significance and explanatory power as compared to the traditional beta. Hence, as per the above findings, the study suggests using the semi-variance methodology for the calculation of the expected returns in emerging economies. However, the significance of the residuals, and beta square terms in both methodologies clearly indicate that there is a need to adjust and incorporate more risk factors, as well as an element of non-linearity while arriving at a probable risk and return relationship.","PeriodicalId":439737,"journal":{"name":"Lahore Journal of Business","volume":"221 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123299331","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":"Does the Choice of Brand Positioning Strategy Matter in the Creation of Brand Love? The Mediating Role of Brand Positioning Effectiveness","authors":"Saad Shahid","doi":"10.35536/ljb.2019.v8.i1.a6","DOIUrl":"https://doi.org/10.35536/ljb.2019.v8.i1.a6","url":null,"abstract":"To understand how brand love can be created, this study examines the effect of brand positioning strategies (benefit brand positioning strategy, feature brand positioning strategy and surrogate brand positioning strategy) on brand love, by conceptualizing brand positioning effectiveness as a mediator. The proposed conceptual model was empirically studied with the responses of 607 young consumers from private universities in Pakistan. This study finds evidence of complementary mediation of brand positioning effectiveness between brand positioning strategies, and brand love in the context of high street fashion retail brands. For the brand managers, this study implies that the development of an interpersonal consumer-brand bond can be developed by employing benefit brand positioning strategy, surrogate brand positioning strategy and feature brand positioning strategy. This, as a result, also indicates the effectiveness of all three of these brand positioning strategies.","PeriodicalId":439737,"journal":{"name":"Lahore Journal of Business","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133314706","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":"Conceptualizing the Impact of Religiosity on the Preferences for Islamic Banking in Mirpur (Azad Jammu and Kashmir): An Empirical Analysis","authors":"Khola Ozair, M. Luqman, S. N. H. Hamdani","doi":"10.35536/ljb.2019.v8.i1.a4","DOIUrl":"https://doi.org/10.35536/ljb.2019.v8.i1.a4","url":null,"abstract":"Over the years, Islamic banking has emerged as a viable alternative to conventional banking, especially after the global financial crises of 2008. Despite the fact that the existing literature emphasizes on this significant shift in customers’ preferences in favor of Islamic banking, there are only a few studies that investigate the actual motives behind this shift. Hence, the key objective of this study is to identify the different factors that explain consumer preferences regarding Islamic banking services, specifically in Mirpur. Even more specifically, this study explores the role of religiosity in influencing consumers’ choice of Islamic banking in Mirpur. To test whether or not religiosity affects consumer preference for Islamic banking, the logistic regression technique has been used for the data analysis. The overall results reveal that besides the conventional variables, the religiosity level of customers, Shariah compliance of an Islamic bank, and knowledge of the respondent about prohibition of interest (Riba) in Islam have positive, and significant effects on consumers’ selection of Islamic banks. Based on these empirical findings, this study suggests that along with improving delivery and quality of services, Islamic banks should emphasize on Shariah compliance which provides a sustainable competitive advantage for Islamic banks over conventional banks.","PeriodicalId":439737,"journal":{"name":"Lahore Journal of Business","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130391064","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":"Herd Behaviour, Short-Lived Phenomenon: Evidence from Pakistan Stock Exchange","authors":"S. Jabeen, S. S. Rizavi","doi":"10.35536/ljb.2019.v8.i1.a3","DOIUrl":"https://doi.org/10.35536/ljb.2019.v8.i1.a3","url":null,"abstract":"This research intends to investigate the herd behaviour of investors in Pakistan Stock Exchange (PSX). Previous literature claims that herd behaviour is driven from fundamental information, which causes quick price adjustments to new information and thus leads to efficient markets. However, some researchers have claimed that herd behaviour does not depend upon fundamental information, and hence, leads to price instability. For the purpose of this research, the daily closing stock prices of 528 companies listed in the PSX have been used to calculate the stock returns. The market-wide herd measure, proposed by Chiang and Zheng (2010), has been used to compute the herd behaviour. The data has been investigated for autocorrelation, heteroscedasticity, and stationarity issues. Findings revealed that herding did not exist in PSX, but some sectors did follow this behaviour. This study can help regulators to comprehensively investigate market anomalies leading to smooth market processing.","PeriodicalId":439737,"journal":{"name":"Lahore Journal of Business","volume":"81 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133606292","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":"Quality of Corporate Governance Risk Management in Dealing with Unanticipated Events: Evidence from Pakistan","authors":"Rubeena Tashfeen, Saud Hayat, Afreen Mallik","doi":"10.35536/ljb.2019.v8.i1.a1","DOIUrl":"https://doi.org/10.35536/ljb.2019.v8.i1.a1","url":null,"abstract":"This study examines the effectiveness of the corporate governance structure when coping with any potentially unexpected events. For the purpose of this research, an event study has been conducted in order to investigate the market responses of various firms through the Cumulative Average Abnormal Return (CAAR) of the stocks listed on the Pakistan Stock Exchange (PSX). The stocks data under consideration is that which was presented after the assassination of Benazir Bhutto in 2007. The overall results indicate that firms that are governed conventionally do not perform well in the markets during a crisis situation. In our comparison of conventionally, and non-conventionally governed firms, the overall pooled results show that the former record a lower CAAR. This, in short, indicates that conventional corporate governance structures may not be equipped to take timely and dynamic actions that are deemed necessary in the face of a crisis. Moreover, our results suggest that firms which have less diversified ownership, and governance mechanisms are less vulnerable to such unanticipated events. There are two reasons that support our hypotheses: first, strict governance mechanisms, and a resultant cautious/conservative approach may not allow firms to take timely and proactive decisions during these situations and second, there is a lower chance of existing agency problems, as family owners would be working for the protection of their own wealth during these events. Therefore, our findings ultimately reveal that the conventional corporate governance structures that work during normal time period, may become ineffective during a crisis. This study, aims to fill a gap in the literature in order to provide fresh insights into the stock market dynamic, and corporate governance risk management. Furthermore, it also highlights the benefits of family owned structures, and unconventional corporate governance systems, that may outperform conventional governance structure in some situations. This, however, raises the question whether one governance framework could be the correct fit in all the situations.","PeriodicalId":439737,"journal":{"name":"Lahore Journal of Business","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128126653","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":"Are Bank Employees Satisfied with Perceived Leadership and Empowerment?","authors":"Shiraz Ahmed, Junaid Ansari, Yamna Khan, M. S. Ramish","doi":"10.35536/ljb.2019.v7.i2.a4","DOIUrl":"https://doi.org/10.35536/ljb.2019.v7.i2.a4","url":null,"abstract":"One of the reasons affecting job satisfaction is the leadership style that engages the employees on a daily basis. Although perceived leadership has been studied well in the past, but there are fewer studies focusing on the mediating effect of employee empowerment. The key objective of this research is to study the relationship of perceived leadership, employee empowerment and job satisfaction of the employees, and also to study the mediating role of employee empowerment on the relationship between perceived leadership, and job satisfaction of the employee. A sample of 200 professionals from different banks was selected for the purpose of this study. Moreover, the Smart PLS 3.0 software was used to analyze whether the model was fit by referring to the PLS-SEM. The results of this study revealed that the independent variable (perceived Leadership) has a significant and positive influence on job satisfaction. All the hypotheses were accepted, and there were none that could be rejected after the results were revealed. The study proves that a partial mediating effect of employee empowerment exists between perceived leadership and job satisfaction. This study can help managers in designing the right strategies for retaining their employees by empowering them according to the boundaries set by their organizations. The results can help organizations to identify the potential reasons for job satisfaction, which will eventually lead to higher productivity and profitability.","PeriodicalId":439737,"journal":{"name":"Lahore Journal of Business","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121242384","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":"Do Cash Holdings Differ in Europe and Asia Pacific?","authors":"Ummar Aftab, Waseem Akhter Qureshi, A. Y. Javid","doi":"10.35536/ljb.2019.v7.i2.a1","DOIUrl":"https://doi.org/10.35536/ljb.2019.v7.i2.a1","url":null,"abstract":"This paper identifies the determinants that contribute towards the variation in financial assets that make up a firm’s total cash reserves, specifically in two important regions of the world i.e. Asia Pacific and Europe. The findings of the research reveal that firms in the region of Asia Pacific have slightly higher cash holdings, as compared to firms in Europe. Moreover, the study also identifies that the elevated cash holdings in Asia Pacific are not a result of the agency problem, as is generally viewed, rather, the shareholder power hypothesis is a more appropriate measure to elucidate this elevation in the level of cash holdings in the region. When shedding light on to the firm specific cash holding determinants, the findings of the research reveal that leverage, dividend payment, profitability, growth and net working capital, cash flows and financial strength, influence cash reserves in both the regions, exactly in the same manner. This shows the application of transaction, and precautionary motives in both the regions. The study further identifies that size, and investments have a varying effect in both the regions that are taken into consideration. Again, this difference may be attributed to Shareholders’ Power Hypothesis, specifically for Asia Pacific and the Agency View, specifically for Europe. Shareholders’ Right Index influences cash reserves in Asia Pacific in a positive manner, while in Europe, the same index shows a negative influence. The development in the financial markets has a negative negatively influence on cash holdings in Asia Pacific, and a positive one in Europe.","PeriodicalId":439737,"journal":{"name":"Lahore Journal of Business","volume":"61 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128358999","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}