{"title":"Does financial development matter for domestic investment? Empirical evidence from India","authors":"N. Sinha, Swati Shastri","doi":"10.1108/sajbs-09-2020-0332","DOIUrl":"https://doi.org/10.1108/sajbs-09-2020-0332","url":null,"abstract":"PurposeThis paper empirically examines the impact of financial development on domestic investment in India for the period 1989–2017.Design/methodology/approachThis study employs the autoregressive distributed lag (ARDL) bounds testing approach to co-integration to test the long-run relationship between financial development and domestic investment. To test the direction of causality, Toda–Yamamoto causality test and vector error correction model (VECM) Granger causality/Block Exogeneity Wald test have been employed. Investment has been measured by Gross Capital Formation. To capture various aspects of financial development in India, eight alternative indicators (both bank based and market based) have been used. With the help selected indicators, a composite index (FINDEX) of financial development has been constructed using principal component analysis (PCA).FindingsThe estimated result finds evidence in favour of positive, short-run and long-run impact of financial development on investment in the Indian economy. Both bank-based and market-based indicators are found to significantly affect the level of investment. The significant effect of efficiency-based financial development indicators (both bank based and market based) upon domestic investment implies that there is a need to implement policies that ensure the efficiency of financial intermediation.Originality/valueTo the best of authors' knowledge, not much research has been done to explore the relationship between financial development and domestic investment, especially in the case of Indian economy. This study also tries to find the impact of bank-based and market-based financial development indicators upon domestic investment to explore banks vs market issue.","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":" ","pages":""},"PeriodicalIF":2.4,"publicationDate":"2021-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43637835","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}
R. Kumari, M. Shabbir, S. Saleem, Ghulam Yahya Khan, B. A. Abbasi, L. B. López
{"title":"An empirical analysis among foreign direct investment, trade openness and economic growth: evidence from the Indian economy","authors":"R. Kumari, M. Shabbir, S. Saleem, Ghulam Yahya Khan, B. A. Abbasi, L. B. López","doi":"10.1108/sajbs-06-2020-0199","DOIUrl":"https://doi.org/10.1108/sajbs-06-2020-0199","url":null,"abstract":"PurposeThis study examines the long-term and causal relationship among foreign direct investment (FDI) inflows, trade openness and economic growth from India.Design/methodology/approachThis study has used annual time series data from the period 1985–2018 and applied the Johansen cointegration and vector autoregression (VAR) model.FindingsThe results of Johansen's cointegration confirm no long-term relationship among all the above three variables. Further, the results of VAR Granger causality indicate that FDI causes economic growth and economic growth causes FDI, which confirms the bi-directional causality. In contrast, this study found that there is no bi-directional causality between trade openness and economic growth.Social implicationsThrough this study, the government could take the decisions related to foreign investment after adopting more trade openness because the study results revealed that if India follows more trade openness, then how FDI will flow (upward and downward). With impulse analysis, researchers, government and policymakers take the decision-related FDI inflows for the forthcoming ten years after 2018.Originality/valueThis study has found the most exciting results from the impulse functions of FDI inflows, trade openness and economic growth, which showed the situation of these three variables as increase and decrease in the forthcoming ten years.","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":" ","pages":""},"PeriodicalIF":2.4,"publicationDate":"2021-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49464147","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 menstruation-related stigma and behavior on female employee performance in Bangladesh: mediating role of non-work related stress","authors":"R. Zaman, M. Mohiuddin","doi":"10.1108/sajbs-08-2020-0274","DOIUrl":"https://doi.org/10.1108/sajbs-08-2020-0274","url":null,"abstract":"PurposeThe purpose of this paper is to investigate how menstruation specific stigma and behavior impacts female employee performance in Bangladesh. Besides, it aims to investigate if nonwork-related stress has any mediating role in the menstruation-related stigma–employee performance and menstruation-related behavior–employee performance relationship.Design/methodology/approachA conceptual model is developed and tested using structural equation modeling (SEM) using Analysis of Moment Structures (AMOS) 25. A total of 400 respondents participated in a self-administered survey, of which 375 questionnaires were retained after discarding questionnaires with incomplete responses.FindingsStigma and behavior related to menstruation were found to have a significant negative effect on female employee performance. Menstruation specific nonwork-related stress was found to partially mediate between menstruation-related stigma–employee performance and menstruation-related behavior–employee performance relationship.Originality/valueThis is the first study to link menstruation specific stigma and behavior and female employee performance using SEM in the context of the Bangladeshi women employees. It is also the first study to investigate the mediating role of nonwork-related stress in the menstruation specific stigma–employee performance and menstruation specific behavior–employee performance relationship in the context of Bangladeshi women employees.","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":" ","pages":""},"PeriodicalIF":2.4,"publicationDate":"2021-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48128888","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}
T. Fatima, A. Bilal, Muhammad Imran, Ambreen Sarwar
{"title":"Manifestations of workplace ostracism: an insight into academics' psychological well-being","authors":"T. Fatima, A. Bilal, Muhammad Imran, Ambreen Sarwar","doi":"10.1108/SAJBS-03-2019-0053","DOIUrl":"https://doi.org/10.1108/SAJBS-03-2019-0053","url":null,"abstract":"PurposeOstracism is a subjective and relative concept that renders itself to multiple manifestations and context-specific outcomes. Therefore, this study identified specific behaviours that are perceived as workplace ostracism by teaching faculty of Pakistani Higher Educational Institutions (HEIs). Building on belongingness theory, the ramifications of ostracism on psychological well-being are outlined along with the context-specific factors that shape these outcomes.Design/methodology/approachA phenomenological approach was adopted, and 30 semi-structured interviews from the teaching faculty of HEIs in Lahore, Pakistan, were conducted. The transcribed interviews were coded, and an inductive thematic analysis via NVivo 12 Plus software was used to generate themes and sub-themes.FindingsFive behaviours, i.e. biased treatment, exclusion from formal and informal interactions, interpersonal alienation, delayed sharing or hiding of knowledge, lack of work-related, social and emotional support constituted the acts of ostracism in studied HEIs. The psychological well-being of faculty suffered in terms of negative emotions, reduced job, career and life satisfaction in their work and family life. The contextual factors deciding the intensity of outcomes resulting from workplace encompassed head of department (HOD) support, pay, friendly relations, fear of confrontation, alternative job options and designation of faculty members.Originality/valueThis research is a pioneer in using an in-depth phenomenological approach to define a behavioural typology of ostracism in academia. Moreover, a much needed holistic outcome of psychological well-being is explored in work and non-work domains and further elucidated in light of context-specific factors.","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":" ","pages":""},"PeriodicalIF":2.4,"publicationDate":"2021-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45341728","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}
R. A. Zaidi, M. M. Khan, Rao Aamir Khan, B. Mujtaba
{"title":"Do entrepreneurship ecosystem and managerial skills contribute to startup development?","authors":"R. A. Zaidi, M. M. Khan, Rao Aamir Khan, B. Mujtaba","doi":"10.1108/SAJBS-07-2020-0233","DOIUrl":"https://doi.org/10.1108/SAJBS-07-2020-0233","url":null,"abstract":"PurposeThe purpose of this study is to analyze the factors affecting startup development and the entrepreneurship ecosystem's contribution to it.Design/methodology/approachA quantitative methodology is used for data collection from different startup owners working across Pakistan. It is a cross-sectional descriptive study, which investigates the causal effect of variables at a definite point in time. Non-probability convenient sampling was used for selecting available startups from the incubation centers. The sampling framework consists of the founders of the startups that have been previously incubated at any of the selected incubation centers.FindingsRegression analysis results from 165 responses of entrepreneurs and incubation centers demonstrate that the most important factors affecting startup development were financial access, government support, marketing challenges, education, technology and managerial skills in order of occurrence. Entrepreneurship ecosystem also proved to have a very positive impact on the relationship of these factors with startup development.Practical implicationsIn this paper, the factors that affect the development of startup are analyzed and recommendations are provided.Originality/valueThis research is comprehensive, as we have collected data from actual entrepreneurs and incubation centers to explain how entrepreneurs initiate their startup business by considering their managerial skills. As such, this study is unique in that the data comes from newly developed incubations centers in one of South Asia's fastest-growing economies.","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":"ahead-of-print 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2021-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45318490","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 debt heterogeneity impact firm value? Evidence from an emerging context","authors":"Amit Tripathy, Shigufta Hena Uzma","doi":"10.1108/sajbs-06-2020-0179","DOIUrl":"https://doi.org/10.1108/sajbs-06-2020-0179","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The present paper attempts to explain the impact of debt diversification and various debt financing sources on firm value. The paper also aims to address the long-run causality of various factors affecting firm value.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The study employs a dynamic panel data model for a sample of 233 listed firms from 2010 to 2019. Two-step generalized method of moments (GMM) is devised to study the impact of firm-specific factors on firm value.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The study establishes a negative impact of debt diversification on firm value. Further, the results also signal how the choice of debt instruments has a heterogeneous effect on firm value. Non-bank debt leads to a discount in firm value, while bank debt has no effect on firm value. The long-run determinants of firm value are debt ratio, tangibility and liquidity.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>The findings of the study would aid the mangers in making informed decisions regarding the debt financing structure. Too much reliance on non-bank debt instruments leads to a negative impact on firm value. Therefore careful evaluation is necessary before accessing multiple debt sources.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>Debt heterogeneity is globally established; however, its presence in the Indian context has not been validated extensively. The study not only validates the existence of debt diversification but also investigates how individual debt instruments affect firm value that is yet to be examined in the Indian context.</p><!--/ Abstract__block -->","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":"8 4","pages":""},"PeriodicalIF":2.4,"publicationDate":"2021-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138509557","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}
Nirmol Chandra Das, Mohammad Ashraful Ferdous Chowdhury, Md. Nazrul Islam
{"title":"The heterogeneous impact of leverage on firm performance: empirical evidence from Bangladesh","authors":"Nirmol Chandra Das, Mohammad Ashraful Ferdous Chowdhury, Md. Nazrul Islam","doi":"10.1108/sajbs-04-2020-0100","DOIUrl":"https://doi.org/10.1108/sajbs-04-2020-0100","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The purpose of this study primarily is to investigate the heterogeneous effect of leverage on performance of the listed nonfinancial joint stock companies in Bangladesh.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>A large panel sample of 165 listed nonfinancial firms under different industries of Bangladesh studied for the period 2007–2016 employing the dynamic panel approaches, namely, differenced generalized method of moments (GMM) and system GMM. The asymmetric relationship between leverage and performance is also examined by quantile regression approach.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>GMM showed that the leverage indicators have the negative impact on the performance of the firms in terms of return on equity and return on asset while the quantile regressions revealed the heterogeneous relationship between leverage and profitability. It showed that greater negative impact of leverage on performance in high-profitable firms than low-profitable firms.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>The study is confined to only the listed nonfinancial joint-stock companies of Bangladesh.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>The asymmetric relationship between leverage and financial performance identified in this study would be the helpful tool for financial managers for optimal capital structure decisions.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This is one of the first in-depth attempts to find the nonlinear heterogeneous effect of leverage on firms' performance.</p><!--/ Abstract__block -->","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":"58 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2021-02-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139767218","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":"Innovation and entrepreneurship amidst coronavirus: a hybrid innovation network response","authors":"S. Sahasranamam","doi":"10.1108/SAJBS-05-2020-0135","DOIUrl":"https://doi.org/10.1108/SAJBS-05-2020-0135","url":null,"abstract":"PurposeThis article aims to discuss adaptation of innovation network during crisis, using the context of an Indian state’s response during early stages of the COVID-19 pandemic.Design/methodology/approachThe article is based on a combination of data from public sources and interviews with entrepreneurs and innovators from an Indian state obtained during the period January–May 2020.FindingsA hybrid innovation network approach with low barriers between the triple helix agents and a non-linear approach to innovation shaped the response of an Indian state toward the pandemic.Originality/valueThis article serves as a case study for innovation network response during initial periods of a crisis such as COVID-19.","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":" ","pages":""},"PeriodicalIF":2.4,"publicationDate":"2021-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42565836","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 influence of the factors on growth of women entrepreneurship in small and medium scale business enterprises: a case study of women entrepreneurship in Negombo","authors":"R. Sivashanker","doi":"10.4038/jbs.v7i2.60","DOIUrl":"https://doi.org/10.4038/jbs.v7i2.60","url":null,"abstract":"","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":"16 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2020-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79344570","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":"Use of social media and academic performance of students: evidence from undergraduate students in University of Jaffna, Sri Lanka","authors":"D. Suganya, L. Kengatharan, R. Yogendrarajah","doi":"10.4038/jbs.v7i2.61","DOIUrl":"https://doi.org/10.4038/jbs.v7i2.61","url":null,"abstract":"This study attempts to examine the impact of use of social media on academic performance of students. Primary data was collected from sample of hundred and eighty students who were following degree of Bachelor of Business Administration programme in faculty of management studies and commerce, University of Jaffna from first year to final year. Use of social media is measured using different dimensions such as time duration, addictiveness, exposure and nature of usage, while overall Grade Point Average is used to measure academic performance of the students issuing structured questionnaires. Descriptive statistics, correlation analysis, multiple regression analysis and ANOVA test were employed to analyse collected data for the study. Result revealed that time duration in use of social media and addictiveness to social media have significant negative impact on academic performance of students, however, exposure to social media and nature of usage don’t have any significant impact on academic performance of students. Further, it was found that there is no significant difference in using hours of social media for educational and non-educational purpose among the students studying in different years. Finding of the study may lead the students to manage their valuable time spending in social media without negatively impact on their academic performance. The students may be encouraged to enhance their academic performance by using social media much more for educational purpose.","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":"9 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2020-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74928450","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}