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1 – 10 of over 4000The purpose of this study is to analyze the price discovery and market efficiency of energy futures traded in India. The study also examines the volatility spillover effect…
Abstract
Purpose
The purpose of this study is to analyze the price discovery and market efficiency of energy futures traded in India. The study also examines the volatility spillover effect between the cash and futures markets of energy commodities.
Design/methodology/approach
The study uses crude oil and natural gas spot and futures series traded at Multi Commodity Exchange (MCX), India. To evaluate the objectives, the paper employs the cointegration test, causality check, dynamic ordinary least squares (DOLS) method and Baba, Engle, Kraft and Kroner (BEKK) GARCH Model.
Findings
The study supports the long-run association between the selected markets. Unlike natural gas, in the case of crude oil bidirectional, flow of information is observed. The study rejects the unbiasedness and efficient market hypothesis of the energy futures market in India. Further, the study confirms that the selected energy commodities indicate bidirectional shock transmission between their respective cash and futures markets.
Practical implications
The study will assist the commodity market participants in designing their trading strategy. The volatility signal will be used by investors and portfolio managers for risk management and portfolio adjustment. Regulators will be able to anticipate future spillover and can design policies to strengthen the market.
Originality/value
The paper evaluates the three aspects of the energy futures market, namely price discovery, market efficiency and volatility slipover. To the best of the authors’ knowledge, studies on efficacy and shock transmission in the context of the energy futures market in India are rare. Further, the study also contributes by investigating the price discovery process of the energy futures market.
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Arpita Agnihotri, Saurabh Bhattacharya, Georgia Sakka and Demetris Vrontis
The purpose of this study is to explore how past and future temporal focus of CEOs in the hospitality industry influence their intention to invest in metaverse technology and the…
Abstract
Purpose
The purpose of this study is to explore how past and future temporal focus of CEOs in the hospitality industry influence their intention to invest in metaverse technology and the underlying mechanism under boundary conditions of perceived competitive pressure.
Design/methodology/approach
This multi-informant study collected data over three waves from a sample of 235 CEOs and their subordinates in India’s hospitality industry. A PLS-SEM was applied to the study data. Further, the study also used phenomenological interviews to capture CEOs’ perspectives on the study’s conceptual model.
Findings
Findings suggest that the past temporal focus of CEOs decreases technology orientation, and future temporal focus increases the technology orientation of firms, consequently impacting the intention to invest in the metaverse. CEOs’ perceived competitive pressure moderates the mediating relationship, such that the negative impact of past temporal focus on technology orientation is decreased and that of future temporal focus on the CEO is increased.
Research limitations/implications
By exploring the role of a CEO’s past and future temporal focus on influencing technology orientation and, hence, adoption of new technology, the study extends upper-echelon theory to the field of metaverse adoption in the hospitality industry and responds to scholars’ calls to explore the industry’s technology adoption from the lens of the upper echelon.
Practical implications
The study has significant implications for the success of the adoption of metaverse technology in the hospitality industry. Findings imply that the board members should encourage CEOs to have future temporal focus.
Originality/value
The study provides novel insights into the adoption of metaverse technology by the hospitality industry, where CEO attributes such as their temporal focus influence intention to invest in metaverse.
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Ho Huy Tuu and Nguyen Huu Khoi
This study explores the direct and indirect effects of two components of food-related consideration of future consequences (CFCs), including CFC-Immediate and CFC-Future, on…
Abstract
Purpose
This study explores the direct and indirect effects of two components of food-related consideration of future consequences (CFCs), including CFC-Immediate and CFC-Future, on sustainable food attitudes (SFA) via food-related health and environmental concerns.
Design/methodology/approach
Partial least squares structural equation modeling technique was used on a data set of 664 Vietnamese consumers collected in Central Vietnam to evaluate measurement and structural models.
Findings
CFC-Immediate and CFC-Future as well as health and environmental concerns have positive effects on SFA. Indirect effects of CFC-Immediate on SFA via health concerns and CFC-Future on SFA via health/environmental concerns are also discovered.
Research limitations/implications
Future studies should examine the impact of environmental values on CFCs, forming a more comprehensive understanding regarding the relationship between the two variables, especially by including a wider range of sustainable food types to gain diverse knowledge about sustainable food consumption.
Practical implications
Communicative messages should focus on both health and environmental concerns while emphasizing both immediate and more distant outcomes of sustainable food (fish) consumption for individuals with different dominant temporal orientations.
Originality/value
This study sheds light on the direct and hierarchical relationships among food-related CFCs, health and environmental concerns and SFA to better understand the intricate psychological process of sustainable food consumption.
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Vinicius Muraro and Sergio Salles-Filho
Currently, foresight studies have been adapted to incorporate new techniques based on big data and machine learning (BDML), which has led to new approaches and conceptual changes…
Abstract
Purpose
Currently, foresight studies have been adapted to incorporate new techniques based on big data and machine learning (BDML), which has led to new approaches and conceptual changes regarding uncertainty and how to prospect future. The purpose of this study is to explore the effects of BDML on foresight practice and on conceptual changes in uncertainty.
Design/methodology/approach
The methodology is twofold: a bibliometric analysis of BDML-supported foresight studies collected from Scopus up to 2021 and a survey analysis with 479 foresight experts to gather opinions and expectations from academics and practitioners related to BDML in foresight studies. These approaches provide a comprehensive understanding of the current landscape and future paths of BDML-supported foresight research, using quantitative analysis of literature and qualitative input from experts in the field, and discuss potential theoretical changes related to uncertainty.
Findings
It is still incipient but increasing the number of prospective studies that use BDML techniques, which are often integrated into traditional foresight methodologies. Although it is expected that BDML will boost data analysis, there are concerns regarding possible biased results. Data literacy will be required from the foresight team to leverage the potential and mitigate risks. The article also discusses the extent to which BDML is expected to affect uncertainty, both theoretically and in foresight practice.
Originality/value
This study contributes to the conceptual debate on decision-making under uncertainty and raises public understanding on the opportunities and challenges of using BDML for foresight and decision-making.
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Linguists classify the world’s languages into two types: futured and futureless. Futured languages (e.g. French) require speakers to grammatically mark future events, a…
Abstract
Purpose
Linguists classify the world’s languages into two types: futured and futureless. Futured languages (e.g. French) require speakers to grammatically mark future events, a construction that is optional in futureless languages such as German. This treatise examines whether the grammatical structure of the predominant language in a given country explains firms’ propensity to engage in controversial marketing and environmental management practices. This is expected to happen because a speaker’s future time perspective and temporal discounting vary depending on the type of language used.
Design/methodology/approach
The sample period for this research was from 2001 to 2020. The sample of the study consists of 5,275 firms representing 47 countries. The sample is comprised of firms from 29 countries where the predominant language is a strong future time reference (FTR) language and 18 countries with a weak-FTR language. The maximum number of firm-country-year observations of the study was 39,956. This study employed multi-level mixed effects modelling as well as other relevant estimation techniques such as random effect panel regression, ordinary least square regression and two-stage least square regression.
Findings
This research empirically demonstrates that firms based in countries where the predominant language requires speakers to grammatically differentiate between the present and the future – known as strong-FTR or futured languages – engage more often in controversial marketing- and environment-related practices than those located in countries where the predominant language does not necessarily require grammatical differentiation between the present and the future (known as weak-FTR or futureless languages).
Practical implications
The findings are important for managers of firms with foreign subsidiary operations: top management teams of such firms need to be aware that their foreign subsidiaries’ propensity to engage in controversial marketing and environmental management practices varies depending on the predominant language those subsidiaries use. Also, firms located in countries with weak-FTR languages need to be more rigorous in their selection process when considering forming a joint venture or acquiring a firm in countries with strong-FTR languages.
Originality/value
The current research enriches the burgeoning body of literature on the effect of language on corporate decision-making. It extends the body of knowledge on the impact of language structure on firms’ inclination to engage in controversial marketing and environmental management practices.
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The present study examines the nexus between workplace relationship conflict, perceived sincere apology, interpersonal forgiveness, trust restoration and future cooperation at…
Abstract
Purpose
The present study examines the nexus between workplace relationship conflict, perceived sincere apology, interpersonal forgiveness, trust restoration and future cooperation at work after a trust violation episode has occurred.
Design/methodology/approach
The data for the analysis were collected from 226 employees using scenarios and survey methods and quantitative techniques were applied to analyze the data.
Findings
The results show that perceived sincerity of apology serves as a mediating variable in the link between workplace relationship conflict and interpersonal forgiveness. Interpersonal forgiveness is found to be positively related to future cooperation at work with the mediating role of trust restoration.
Practical implications
The findings of the study have practical implications for strategy makers, human resource managers and practitioners interested in stimulating future cooperation at work after a trust violation episode has occurred. The study advocates that sincere apology and interpersonal forgiveness serve as an important link to recovering from trust violation damages and cultivating future cooperation at work after a relationship conflict has occurred.
Originality/value
The findings of the present study bring new insights on the role played by sincere apology and interpersonal forgiveness in facilitating trust restoration and future cooperation at work after a relationship conflict episode has occurred.
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Manoj Chatpibal, Wornchanok Chaiyasoonthorn and Singha Chaveesuk
This study aims to develop a conceptual framework for the role of chief financial officer (CFO) in an ever-changing environment. As previous research focused on responding to…
Abstract
Purpose
This study aims to develop a conceptual framework for the role of chief financial officer (CFO) in an ever-changing environment. As previous research focused on responding to specific crises, there have been theoretical and practical gaps in the role of CFO. The study's goal is to fill a critical gap by developing a comprehensive and integrated set of roles to assist the CFO in a constantly changing environment.
Design/methodology/approach
Using a grounded theory approach, semi-structured interviews and observations were conducted with 21 CFOs from various industries in Thailand, including foreign multinational corporations and domestic companies with international operations. CFOs were asked how they frame their roles in the face of an ever-changing environment and how they prepare for the future.
Findings
The iCFO model is developed, which identifies the critical “core” roles of the CFO in securing the business foundation, as well as the “future opportunities” roles that function as growth engines for long-term business strength. The research delves into the importance of integrity, ethical mindset and corporate governance in the role of the CFO. The iCFO model is designed to help guide future research and provide practical applications for CFOs in both domestic and international contexts. The term “core” refers to the CFO’s primary responsibilities, which include driving profitability, managing risks and optimizing business performance. The “future opportunities” component focuses on the roles that CFOs can play in strengthening the future of business by optimizing investment efficiency, driving digital transformation and being the CEO’s business partner. The findings also emphasized “integrity,” which must encompass all decisions, actions or recommendations made by the CFO.
Originality/value
The study offers unique perspectives on an emerging economy, providing new insights. Through interviews with 21 CFOs, it contributes empirical evidence on the development of roles in accounting and finance, emphasizing good governance practices. The findings highlight the integrated role of the CFO and their self-reflection on their value within the company. Significantly, the study's implications are relevant and applicable to a global audience, particularly in developing economies that prioritize growth. Future studies could incorporate integrated thinking into the iCFO model to address social, environmental and economic factors, making it more universally relevant. Additionally, exploring the adoption of the chief value officer context in developing markets could enable CFOs to expand their focus beyond financial metrics, embracing a comprehensive approach to value creation. By integrating these concepts into the iCFO model, CFOs can effectively drive sustainable and impactful business outcomes on a global scale.
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Eeva Vuorivirta-Vuoti, Suvi Kuha and Outi Kanste
Coronavirus disease (COVID-19) has challenged leadership in hospitals worldwide. The experiences of leadership during the pandemic changed leadership significantly. This study…
Abstract
Purpose
Coronavirus disease (COVID-19) has challenged leadership in hospitals worldwide. The experiences of leadership during the pandemic changed leadership significantly. This study aims to describe nurse leaders’ perceptions of what future leadership in hospital settings in the post-pandemic era needs to be like.
Design/methodology/approach
A qualitative descriptive study was used. A total of 20 nurse leaders from the Finnish central hospital were interviewed from June to October 2021. The data were analysed using inductive content analysis.
Findings
The analysis revealed five main categories describing nurse leaders’ perceptions of future leadership in hospital settings in the post-pandemic era: digitalisation and hybrid working culture, development of sustainable working conditions, moving smoothly to the post-pandemic era, dissolution of traditional regimes of organisation and flexibility in leadership.
Practical implications
In the post-pandemic era, the constantly changing demands and challenges currently facing healthcare systems have significantly increased the complexity of hospital organisations. This requires critical evaluation and change to traditional leadership. Enhancing flexibility and authenticity in leadership, strengthening competencies, implementing a wide range of digital resources and increasing the appeal of the nursing profession to build the next generation of nurses – all of these are needed to provide sustainability in future healthcare.
Originality/value
The results identify the critical points of leadership that need to be developed for future challenges and for maintaining a sufficient supply of qualified professionals. Acting on this information will enhance flexibility in organisations and lead to acceleration of changes and the development of new kinds of leadership in the future
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Katarzyna Piwowar-Sulej, Jana Blštáková, Lenka Ližbetinová and Branislav Zagorsek
The purpose of this paper is to research the impact of digitalization on employees' future competencies and the conditional role of human resource development (HRD) in the…
Abstract
Purpose
The purpose of this paper is to research the impact of digitalization on employees' future competencies and the conditional role of human resource development (HRD) in the relationship between independent and dependent variables.
Design/methodology/approach
Empirical research covered 1209 enterprises from all of Slovakia, Poland and the Czech Republic. The research was conducted from 2019 to 2021. Using structural equation modeling (SEM), a theoretical model was tested and verified.
Findings
Confirmatory factor analysis has shown a good fit for the tested model. The purpose and character of our data showed a good alignment with the SEM partial least squares method, as the goal is to predict a construct. The model showed that employee-oriented digitalization positively affected the employees' future competencies, with no impact of customer-oriented digitalization treated as a control variable. Also, the moderating role of HRD has not been shown to be significant for the “digitalization – competencies” relationship.
Originality/value
Previous studies on the development of personnel competencies treated these competencies as antecedents of digital transformation and examined the formal role of HRD in building the competencies. The novelty of this study lies in exploring the pattern of interactions among the impact of an environment built by innovative technologies and HRD on the competencies of the future. Also, the research embedded in the environment of Poland, the Czech Republic and Slovakia has contributed to the complex understanding of the transition to digitalization, as this region has often been omitted in the field of human resource management (HRM) research focused on exploring digital transformation.
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