Impact of information risk and cost of equity: moderating role of investor attention

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sana Saleem ◽  
Muhammad Usman
Keyword(s):  
Private Information ◽  
Cost Of Equity ◽  
Dynamic Panel ◽  
Investor Attention ◽  
Content Type ◽  
Information Risk ◽  
Different Types ◽  
Types Of Information ◽  
Moderating Role

PurposeThe purpose of this study is to finds out how investor attention plays the moderating role between the relation of information risk and COE by considering the effect of three different types of information risk, that is private information, lack of quality and transparent information.Design/methodology/approachFor that purpose, data is collected from all the non-financial firms listed on PSX from 2007 to 2019. Two-step system GMM dynamic panel estimators are applied to test the dynamic nature of the proposed model.FindingsThe findings of the study show that investor attention reduces these three information risks by increasing the stock liquidity and decreasing the crash risk which ultimately decreases the COE. Also, this study examined the role of investor attention between the relations of information risk and corporate investment in the dynamic panel model, where the two-step system generalized method of the moment has been applied. The finding of the study shows that investor attention stimulates the innovative investment by increasing investor confidence and decreasing the agency conflict.Originality/valueThis study contributes to the literature by providing the novel findings by considering the role of investor attention in reducing the effect of three different types of information risk, that is private information, less quality as well as less transparency of information and further their effect on the cost of equity.

How can NGOs prevent volunteers from quitting? The moderating role of the NGO type

2019 ◽  
Vol 58 (2) ◽  
pp. 201-220 ◽  
Author(s):  
Jose Miguel Lorente-Ayala ◽  
Natalia Vila-Lopez ◽  
Ines Kuster-Boluda
Keyword(s):  
Self Determination Theory ◽  
Content Type ◽  
Different Types ◽  
Modelling Methodology ◽  
The One ◽  
The Impact ◽  
The Relationship ◽  
Moderating Role ◽  
Practical Implications

Purpose The rise of non-governmental organisations (NGOs) during the last decades has made the volunteer a key element. Motivation and satisfaction have been indicated as predictive indices of their retention. The purpose of this paper is twofold. On the one hand, it seeks to better understand the motivations of the volunteers, addressing the effects of such motivations. On the other hand, it analyses whether the intensity of such antecedents and effects differs depending on the type of NGO with which they work: generalist vs specialist. Design/methodology/approach A study with 847 volunteers from different types of NGOs was done using structural modelling methodology and multi-sample analysis. Findings The type of NGO moderates the relationship between the satisfaction of the volunteer and the intention to recommend. Practical implications Given that in specialist NGOs the impact of satisfaction on the intention to recommend is significantly stronger than in generalist NGOs, making sure that volunteers are satisfied becomes a priority in this type of NGO. In this regard, satisfaction studies among volunteers could be conducted periodically to detect crisis situations and implement improvement actions to recover satisfaction in the occupied position. Originality/value First, to date, the motivations of the volunteer have been investigated from different disciplines, the self-determination theory (SDT) being an important motivational theory widely used in areas such as social, education and sports psychology. However, there is little research from a marketing approach to understand the background of the motivations of volunteers under this conceptual framework provided by the SDT. Second, there is also a scarcity of literature linking the motivations of a volunteer with the emotions they may feel, ultimately achieving consolidated lasting links with the NGO in which they are integrated. Third, most research on volunteering to date has focused on differentiating volunteers from non-volunteers and understanding the reasons for volunteering. However, the presence of studies on the differences in the motivation of the same according to the type of NGO with which they collaborate has been scarce.

CSR types and the moderating role of corporate competence

2018 ◽  
Vol 52 (7/8) ◽  
pp. 1358-1386 ◽  
Author(s):  
Xiaoye Chen ◽  
Rong Huang ◽  
Zhiyong Yang ◽  
Laurette Dube
Keyword(s):  
Experimental Study ◽  
Repeated Measures ◽  
Empirical Studies ◽  
Interactive Effects ◽  
Survey Study ◽  
Content Type ◽  
Different Types ◽  
The Impact ◽  
Moderating Role

PurposeThis paper aims to investigate the impact of different types of corporate social responsibility (CSR; i.e. value-creating CSR, promotional CSR and philanthropic CSR) on consumer responses and the moderating role of corporate competence.Design/methodology/approachThe authors tested the hypotheses by using two empirical studies – a survey and an experimental study. The evidence is generated based on generalized linear model repeated-measures ANOVAs for the survey study and two-way factorial ANOVAs for the experimental study.FindingsThe findings show that in general, consumers respond to value-creating CSR more favorably than to philanthropic CSR or promotional CSR. In addition, corporate competence moderates consumers’ responses to different types of CSR in such a way that promotional CSR is more likely to have the desired effects when carried out by low-competency rather than by high-competency firms, whereas value-creating CSR is more effective for high-competency firms than for low-competency ones. Philanthropic CSR works equally in both types of firms.Research limitations/implicationsThis research answers a long-term call to study the differential consumer effects of various CSR types. It also identifies perceived corporate competence, an important consumer-based corporate factor, as a potential moderator of consumers’ response to CSR types.Practical implicationsArmed with the findings, companies can choose CSR practices that fit with their company characteristics. This research offers important and specific managerial implications to firms with different company profiles on their CSR choices.Originality/valueGiven that today’s managers are faced with the challenge of selecting desirable CSR activities from a group of options, the authors answered the call by studying the differential effects of a wide array of CSR choices and provide important practical guidance to managers. For the first time in the literature, the study also investigates the potential interactive effects between specific CSR types and corporate competence on consumer reactions. This inquiry bears significant relevance to the ongoing discussions concerning whether and how company characteristics generate influences on the outcomes of CSR strategies.

Relational bonding strategies in the franchise industry: the moderating role of duration of the relationship

2015 ◽  
Vol 30 (7) ◽  
pp. 830-841 ◽  
Author(s):  
Yong-ki Lee ◽  
Sally Kim ◽  
Min-Seong Kim ◽  
Jae-Han Lee ◽  
Ki-Taek Lim
Keyword(s):  
Design Methodology ◽  
Research Model ◽  
Content Type ◽  
Different Types ◽  
The Impact ◽  
The Relationship ◽  
Moderating Role ◽  
Practical Implications

Purpose – This paper aims to examine the effect of different relational bonding strategies on franchisees’ perceptions of benefits. The duration of the relationship is framed as a moderator between three types of relational bonds and the perceived benefits. Design/methodology/approach – The data are collected via a survey from foodservice franchisees in South Korea. To test the study’s hypotheses, the research model was estimated with two-stage least squares. Findings – The result shows that social and structural bonds have a significant impact on franchisees’ perceptions of benefits. There are some significant interactions between different types of relational bonds and the duration of the relationship. Perceptions of benefits are found to influence satisfaction, intentions to recommend, intentions to renew the contract and long-term orientation. Practical implications – The study suggests that franchisors may want to focus on developing and strengthening social bonds, and also customize their relational approaches based on the duration of the relationship with the franchisees. Originality/value – This research illustrates the impact of three types of relational bonding strategies on franchisees’ perceptions of the benefits and also examines the significant moderating role of the duration of the relationship.

scholarly journals Does corporate governance compliance condition information asymmetries? Moderating role of voluntary disclosures

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Samya Tahir ◽  
Sadaf Ehsan ◽  
Mohammad Kabir Hassan ◽  
Qamar Uz Zaman
Keyword(s):  
Corporate Governance ◽  
Private Information ◽  
Audit Committees ◽  
Information Asymmetries ◽  
Voluntary Disclosures ◽  
Content Type ◽  
Reporting Practices ◽  
Institutional Owners ◽  
Moderating Role

PurposeThis study examines the moderating effects of low and high levels of voluntary disclosures (VDs) between corporate governance and information asymmetry (IA).Design/methodology/approachThe study used PROCESS macro to construct bootstrap confidence intervals at the 95% level to estimate the model, and “simple slope analysis” to visualize the model.FindingsThe better corporate governance provides a monitoring mechanism that disseminates private information and reduces IA The effect of corporate governance on IA is contingent on the levels of VDs within a firm, and this relationship is strengthened when the level of VDs within a firm is high, and results remain consistent when levels of sub-indices are high. Additional analysis reveals that effective boards and audit committees reduce IA. Increased inside, an associated company, family and foreign ownership exacerbate IA, whereas institutional owners act as effective monitors to overcome informational disadvantages.Practical implicationsThe findings provide implications for policymakers to promote corporate governance and more relevant reporting practices as effective mechanisms for protecting shareholders' rights and attenuating IA in capital markets.Originality/valueThe study is valuable to understand the strength of the relationship between corporate governance and information asymmetries based on the moderating role of different VD levels.

Motivation and sustained participation in the online crowdsourcing community: the moderating role of community commitment

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Wei Wu ◽  
Xiang Gong
Keyword(s):  
Intrinsic Motivation ◽  
Extrinsic Motivation ◽  
Online Survey ◽  
Content Type ◽  
Systems Research ◽  
Information Systems Research ◽  
Different Types ◽  
Moderating Role ◽  
Community Commitment

PurposeCrowdworkers' sustained participation is critical to the success and sustainability of the online crowdsourcing community. However, this issue has not received adequate attention in the information systems research community. This study seeks to understand the formation of crowdworker sustained participation in the online crowdsourcing community.Design/methodology/approachThe research model was empirically tested using online survey data from 212 crowdworkers in a leading online crowdsourcing community in China.FindingsThe empirical results provide several key findings. First, there are two different types of sustained participation: continuous participation intention (CPI) and increased participation intention (IPI). Second, extrinsic motivation and intrinsic motivation positively influence crowdworker CPI and IPI. Third, community commitment negatively moderates the effects of extrinsic motivation on CPI and IPI, while it positively moderates the effects of intrinsic motivation on CPI and IPI.Originality/valueThis study has significant implications for research on online crowdsourcing community and provides practical guidance for formulating persuasive measures to promote crowdworker sustained participation in the community.

Interactive effects of advising strength and brand familiarity on users' trust and distrust in online recommendation agents

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Tao Liu ◽  
Weiquan Wang ◽  
Jingjun (David) Xu ◽  
Donghong Ding ◽  
Honglin Deng
Keyword(s):  
Attribution Theory ◽  
Design Feature ◽  
Interactive Effects ◽  
Research Model ◽  
Content Type ◽  
Brand Familiarity ◽  
Different Types ◽  
Harmful Behavior ◽  
Moderating Role

PurposeThis paper investigates the effects of advising strength of a recommendation agent on users' trust and distrust beliefs and how the effects are moderated by perceived brand familiarity.Design/methodology/approachA research model is evaluated using a laboratory experiment with 149 participants.FindingsResults reveal that a strong advising tone leads to higher trust in terms of users' credibility and benevolence beliefs and lower distrust in terms of their discredibility beliefs (the trustor's concerns regarding the trustee's dishonesty and competence in engaging in harmful behavior) when perceived brand familiarity is high. By contrast, when brand familiarity is low, strong advising tone results in low trust in terms of users' credibility belief and high distrust in terms of their beliefs in discredibility and malevolence (concerns regarding the trustee's conduct in terms of a malicious intention that can hurt the trustor's welfare).Originality/valueThis paper contributes to the trust and distrust literature by studying how each of the dimensions of trust and distrust can be affected by an RA's design feature. It extends the attribution theory to the RA context by studying the moderating role of brand familiarity in determining the effects of the advising strength of an RA. It provides actionable guidelines for practitioners regarding the adoption of an RA's appropriate advising strength to promote different types of products.

The effects of online tactile information source for low-touch products on consumer responses

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Carmela Donato ◽  
Maria Antonietta Raimondo
Keyword(s):  
Information Source ◽  
Experimental Studies ◽  
Tactile Information ◽  
Content Type ◽  
Consumer Responses ◽  
Different Types ◽  
Web Communities ◽  
Moderating Role ◽  
Written Description

Purpose This paper aims to analyze the effects of web communities vs company websites in providing tactile information considering different types of product in terms of touch diagnosticity (low- vs. high-touch products). Design/methodology/approach Three experimental studies were conducted to examine the effect of online information sources (i.e. web communities vs. company websites) in providing tactile information on consumer responses, considering the moderation role of product type in terms of touch diagnosticity (low- vs. high-touch products, Study 1), the moderating role of type of information (tactile vs. generic, Study 2a); and the moderating role of need for touch (NFT) (Study 2a and 2b). Findings While previous research converges on the idea that the provision of a written description of tactile properties deriving from the product usage is particularly effective for products for which tactile information is diagnostic and for individuals high in NFT, the results demonstrated that the presence (vs. the absence) of the description of the tactile properties provided by web communities (vs. company websites) matters for those products for which touch is not diagnostic and for individuals low in NFT. Practical implications The findings have particular relevance for emerging brands intending to commercialize their products in the digital environment. These companies should be present in web communities to describe a product’s tactile characteristics, especially if not diagnostic. Originality/value This paper significantly contributes to a better understanding of a little studied area, namely, consumer responses toward haptic compensational strategies providing haptic cues (e.g. written description of tactile information along with pictures of products) aiming at compensating for the absence of touch, underlining the differential influence of online sources of tactile information on consumer responses across different types of products.

Financial access and economic development: the moderating role of financial consumer protection

2019 ◽  
Vol 15 (4) ◽  
pp. 406-424 ◽  
Author(s):  
Maryam Kriese ◽  
Joshua Yindenaba Abor ◽  
Elikplimi Agbloyor
Keyword(s):  
Economic Development ◽  
World Bank ◽  
Financial Literacy ◽  
Compliance Monitoring ◽  
Financial Access ◽  
Policy Makers ◽  
Content Type ◽  
The World Bank ◽  
Moderating Role

Purpose The purpose of this paper is to examine the moderating role of financial consumer protection (FCP) in the access–development nexus. Design/methodology/approach The study is based on cross-country data on 102 countries surveyed in the World Bank Global Survey on FCP and Financial Literacy (2013). The White heteroscedasticity adjusted regressions and Two-stage least squares regressions (2SLS) are used for the estimation. Findings Interactions between FCP regulations that foster fair treatment, disclosure, dispute resolution and recourse and financial access have positive net effects on economic development. However, there is no sufficient evidence to suggest that interactions between financial access and enforcement and compliance monitoring regulations have a significant effect on economic development. Practical implications First, policy makers should continue with efforts aimed at instituting FCP regimes as part of strategies aimed at broadening access to financial services for enhanced economic development. Second, instituting FCP regimes per se may not be enough. Policy makers need to consider possible intervening factors such as the provision of adequate resources and supervisory authority, for compliance monitoring and enforcement to achieve the expected positive effect on economic development. Originality/value This study extends evidence in the law–finance–growth literature by providing empirical evidence on the effect of legal institution specific to the protection of retail financial consumers on the access–development nexus using a nouvel data set, the World Bank Global survey on FCP and Financial Literacy (2013).

Market orientation, innovation commercialization capability and firm performance relationships: the moderating role of supply chain influence

2017 ◽  
Vol 32 (7) ◽  
pp. 913-924 ◽  
Author(s):  
Jeen-Su Lim ◽  
William K. Darley ◽  
David Marion
Keyword(s):  
Supply Chain ◽  
Firm Performance ◽  
Market Orientation ◽  
Innovation Management ◽  
Strategy Formulation ◽  
Content Type ◽  
Positive Effects ◽  
The Impact ◽  
Moderating Role

Purpose The study aims to explore supply chain influence (SCI) on the linkages among market orientation, innovation capabilities and firm performance (FP), using the resource-based view as a theoretical backdrop. Design Survey data from 182 top managers who are involved in strategy formulation and innovative direction of their companies was collected and analyzed using moderated multiple regression analysis. Findings Results revealed a moderating role of the SCI in that the proactive market orientation (PMO) and FP relationship is stronger when SCI is high, and innovation commercialization capability (ICC) and FP relationship is stronger when SCI is low. Practical implications Firms pursuing high PMO strategy must collaborate with supply chain function to achieve the full effect of PMO. Additionally, as supply chain is critical to meeting customers’ needs, these firms should allow supply chain to exert greater influence to enjoy the positive effects of PMO in addition to ensuring full integration into marketing strategy implementation. Also, firms with high ICC need to limit SCI to maximize the benefit of ICC on FP, just as innovation management needs to be cognizant of other functional areas. Originality/value The study investigates the potential moderating role of SCI on the relationships among market orientation, ICC and FP. The study fills a gap in the understanding of the nature and role of supply chain in the marketing–supply chain interaction, and the impact on FP.

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