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Editorial
South African Journal of Psychology, Ahead of Print.
Do rights matter? An intraday analysis of rights issues in Australia
Abstract
We examine intraday abnormal returns associated with rights issue announcements in the Australian equity market over the period January 2000 to December 2022. Consistent with prior studies, we find significant abnormal returns ranging from −2.9% to −2.7% on the event day. We provide the first evidence on intraday price reactions pertaining to rights issues in Australia. Within 15 min of an announcement, we find significant abnormal trade returns of −1.2%. However, market participants are unable to profit by trading on these announcements due to transaction costs. Our results imply that the information content is fully impounded within 90 min.
Home Political Connections and Outward FDI of Emerging Market Firms
Abstract
While political connections are a critical non-market strategy for emerging market firms (EMFs) to achieve success, how they affect EMFs’ outward foreign direct investment (OFDI) remains controversial. Building on the institution-based view, we examine how home-country political connections facilitate or impede EMFs’ OFDI. Using a panel dataset of listed private firms in China, we find that home political connections have an inverted U-shaped effect on firms’ OFDI level; the effect becomes flatter as pro-market reforms proceed in the home country, but becomes steeper for firms with strong technological capability. By revealing a nonlinear effect, our study helps reconcile inconsistencies regarding the role of home political connections in OFDI and has important implications for EMFs’ internationalization.
Household financial health: a machine learning approach for data-driven diagnosis and prescription
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Compensating balance and loan bargaining power in China
Abstract
Chinese firms simultaneously have high levels of loans and cash holdings. Through listed firms on the Shanghai and Shenzhen Stock Exchanges, we establish a negative link between cash holdings and a firm's loan bargaining power, especially in regions with less bank competition, through a firm's passive response to bank requests rather than its voluntary excess cash reserves. Furthermore, state ownership, collateral, economic contribution, and reduced information asymmetry may effectively strengthen firm bargaining power and moderate the link. However, better marketisation strengthens the link. The banking sector may need to improve its efficiency through better credit rationing in future reforms.
A qualitative investigation of entrepreneurial marketing dimensions and their effect on brand image on the Instagram platform
The International Journal of Entrepreneurship and Innovation, Ahead of Print.
Although entrepreneurial marketing (EM) and its dimensions are not an unknown concept, there is a lack of definite consensus among researchers, especially on the utility of social media platforms. The widespread use of social media platforms such as Instagram has led companies to take advantage of them in their brand management with an entrepreneurial approach; therefore, social media is considered a necessary factor in modern entrepreneurship. In this study, we identified the EM dimensions of the Instagram platform and examined their effect on brand image (BI) enhancement. To do so, a qualitative content analysis was performed using Instagram posts related to new products of dairy companies, and seven dimensions were obtained, which are proactiveness, innovativeness, opportunity focus, resource leveraging, customer intensity, emotional connections, and entrepreneurial promotion on social media. The results of sentiment analysis of comments indicate that among the mentioned dimensions, “emotional connections” have the most effect and “opportunity focus” has the least effect on BI enhancement.
Although entrepreneurial marketing (EM) and its dimensions are not an unknown concept, there is a lack of definite consensus among researchers, especially on the utility of social media platforms. The widespread use of social media platforms such as Instagram has led companies to take advantage of them in their brand management with an entrepreneurial approach; therefore, social media is considered a necessary factor in modern entrepreneurship. In this study, we identified the EM dimensions of the Instagram platform and examined their effect on brand image (BI) enhancement. To do so, a qualitative content analysis was performed using Instagram posts related to new products of dairy companies, and seven dimensions were obtained, which are proactiveness, innovativeness, opportunity focus, resource leveraging, customer intensity, emotional connections, and entrepreneurial promotion on social media. The results of sentiment analysis of comments indicate that among the mentioned dimensions, “emotional connections” have the most effect and “opportunity focus” has the least effect on BI enhancement.
Growing Institutional Complexity and Field Transition: Towards Constellation Complexity in the German Energy Field
Abstract
By applying a dynamic approach to field-level institutional complexity, we explore how growing institutional complexity affects fields over time. We examine field transition processes, which are shaped by the number of logics, the nature of their relationships and the shifts in dominance. Focusing on Germany's energy field, our analysis identifies a variety of conflicts that arose among up to seven institutional logics in the context of the German energy transition, i.e., the transition towards a low carbon energy market. The paper makes two theoretical contributions to the institutional complexity and field literature. First, we develop a process model explaining the field-level consequences of two different types of growing complexity, namely increasing and accelerating complexity. Second, we identify conflicting logic constellations as a distinct form of complexity that we term constellation complexity. We discuss our contributions in light of the literature on institutional logics and fields and show how applying a dynamic perspective to institutional complexity supports scholars in conceptualizing field transition processes.
The Double‐Edged Sword of Error Sharing in Organizations: From A Self‐Disclosure Perspective
Abstract
Extant research highlights the importance of error sharing for managing errors in organizations, but little work examines what happens to employees who disclose errors. Treating errors as sensitive information, we draw on the self-disclosure literature to propose that error sharing can influence leaders’ evaluations of employee ability and integrity, which affect leader trust in the employee; error visibility and severity work as contingency factors in the above links. We conducted two field studies and one experimental study to test our hypotheses. We used data collected in China from manufacturing companies (560 employees from 71 teams in Study 1), a high-reliability organization (359 employees from 104 teams in Study 2), and an online sample (356 participants in Study 3). Results show that error sharing impairs leader trust via the negative evaluation of the employee's ability but enhances trust via the positive evaluation of the employee's integrity; error visibility and severity moderate the relationships between error sharing and leader evaluation of employee integrity and leader trust such that the positive relationships are enhanced when errors are of lower visibility or higher severity. Our study offers a novel perspective to understand the relational consequences of error sharing at work.
The Interplay of Job Demands–Resources: Experiences of Public Health Inspectors of Sri Lanka During the First and Second Waves of the COVID-19 Pandemic
South Asian Journal of Human Resources Management, Ahead of Print.
The COVID-19 pandemic posed unprecedented challenges to healthcare employees worldwide. As part of combatting the disease, they were often confronted with numerous physical and psychological job demands. Studies have explored the experiences of and responses to a COVID-19-related job demand–resource (JD-R) interplay of Western hospital-based healthcare staff. However, whether community-based, non-clinical healthcare workers experienced and responded to the COVID-19-related JD-R interplay similarly to hospital-based clinical healthcare employees is severely under-researched. This article explores how Sri Lanka’s public health inspectors (PHIs), a group of community-based, non-clinical healthcare workers experienced and responded to the COVID-19-related JD-R interplay. Using 18 in-depth interviews, this study found that PHIs were confronted with COVID-19-specific physical and psychological job demands including work pressure, workload, ambiguities in authority and job responsibilities, fear of contracting and passing on the disease to family members and social rejection which they managed with limited training, minimal rewards and less recognition. This JD-R incompatibility led to stress, exhaustion and coping inflexibility to which PHIs responded through approach and avoidance coping. While most coping strategies enabled PHIs to ease their stress and exhaustion, there were others that exacerbated the feelings of burnout.
The COVID-19 pandemic posed unprecedented challenges to healthcare employees worldwide. As part of combatting the disease, they were often confronted with numerous physical and psychological job demands. Studies have explored the experiences of and responses to a COVID-19-related job demand–resource (JD-R) interplay of Western hospital-based healthcare staff. However, whether community-based, non-clinical healthcare workers experienced and responded to the COVID-19-related JD-R interplay similarly to hospital-based clinical healthcare employees is severely under-researched. This article explores how Sri Lanka’s public health inspectors (PHIs), a group of community-based, non-clinical healthcare workers experienced and responded to the COVID-19-related JD-R interplay. Using 18 in-depth interviews, this study found that PHIs were confronted with COVID-19-specific physical and psychological job demands including work pressure, workload, ambiguities in authority and job responsibilities, fear of contracting and passing on the disease to family members and social rejection which they managed with limited training, minimal rewards and less recognition. This JD-R incompatibility led to stress, exhaustion and coping inflexibility to which PHIs responded through approach and avoidance coping. While most coping strategies enabled PHIs to ease their stress and exhaustion, there were others that exacerbated the feelings of burnout.