Market Forces (Journal of Management, Business and Economics, College of Management Science, PAF-KIET)
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Challenges of Change Management in SMEs of Pakistan Systematic Narrative Review
No full textThe aims of the study are revisiting past research papers on the importance of organizational change (OC) and Change management (CM). Effective CM is necessary for every organization to thrive and prosper in the highly competitive market environment. Presently available CM’s theories and approaches to scholars and practitioners are frequently conflicting, lacking mainly empirical evidence. Therefore, this study provides a systematic narrative review on organizational CM in addition, identifies the challenges faced by organizations during the implementation of change further this study also highlights the suggestions for further research
Impact of Brand Equity on Purchase Intentions of Customers in Insurance Industry of Pakistan
No full textInsurance firms play an important role in an economy’s growth and development and are key financial institutions that are critical for the success of other companies. They provide stability to both individuals and businesses by agreeing to bear the financial liability of insured parties. However, in Pakistan, the share of insurance towards GDP is significantly lower than in similar developing countries. Thus, we have developed a model that can help the insurance sector improve its image and sustainability. We collected the data from five major cities of Pakistan based on pre-developed questionnaires. The study has a useable sample size of 424. We found that Brand Attitude (BA) and Customer Satisfaction (CS) promote Brand Equity (BE) and Purchase Intention (PI). Further, BE is a determinant of PI. However, brand image has contradicting effects. On the one hand, Brand Image (BI) does not affect BE, but on the other hand, BI has a significant association with PI. The results also suggest that BI, BE, and CS mediates BA and PI. Also, BI and CS affect BE. However, BE does not mediate BI and PI, but BI mediates CS and purchase intentions
Impact of Strategic Ambiguity Tagline on Billboard Advertising on Consumers Attention
No full textIt has become difficult for firms to attract and retain customers in the prevailing competitive era. Therefore, they spend considerable resources on advertising mediums, including billboard advertising, apart from other strategies. Given its importance, we have developed a new model that examines the effect of attitudes, perception, brand motives on consumer attention. The study has also examined the effect of tagline ambiguity on consumers' attention and the moderating role of brand image. The study has collected the data from the e leading private business institutes of Karachi, as they are more familiar with the terminologies used in the study. The selected target would reduce variances in the self-administered questionnaire. The study found that consumer attitude is a significant antecedent of consumer attention. And consumers' attitudes, perceptions, and brand motives significantly affect tagline ambiguity. The study has several implications for marketers and practitioners. Deliberate ambiguity significantly affects consumer attention. It promotes cognitive thinking, brand recall, and brand recognition. This allows firms the flexibility of changing value proposition. Many firms have successfully used ambiguity in their taglines. For example, Volkwagen'slogan "Somewhere between tuxedo and birthday suit." This slogan does not communicate anything definite about the products but forces the consumers to form an association. The study has focused on the private business students in Karachi. We recommend others extend this model to other cities and countries. We did not use control variables in this study, which future researchers can incorporate in their studies
Critical Success Factors for Pharmaceutical Firms: The Case of Pakistan
Full text linkThis study is to investigate the critical success factors for Pakistani pharmaceutical firms. This study conceptualizes knowledge management, image and control as the key indicatorsof critical success factors. This study collects the data from the lower-, middle-, and top-level managers in the pharmaceutical firms in major cities of Pakistan: Lahore, Multan, Islamabad. Thisstudy performs PLS-SEM in analyzing 100 responses obtained through survey forms. Results of the study indicate that knowledge management is the element that gives rise to confession, wage, promotion and the execution of unlike objectives that increase a general exposure of the all stakeholders. It achieves a pleasurable passionate state that frequently prompts a positive organizational performance and competitive advantage. This research puts light on the gaps found in adaptation of critical success factors in Pharmaceutical industry of Pakistan as compared to the developed countries in this sector
Revisiting the Environmental Kuznets Curve Hypothesis in Pakistan : Revisiting the Environmental Kuznets Curve Hypothesis in Pakistan
No full textA number of studies have already determined the existence of inverted U-shaped environmental Kuznets curve in Pakistan however the role of structural breaks in determining the relationship is yet to be investigated. The objective of this study was to determine if the presence of possible structural breaks explain the existence of environmental Kuznets curve type relationship in Pakistan for the period 1980-2016 by using data of total energy consumption, Real GDP per capita, foreign direct investment and trade openness. For the analysis the study first used the conventional time series econometric methods to determine the order of integration and Cointegration in the model. Second; as it is evident from the literature that presence of structural break in the model can have a significant impact, so the study used the Zivot and Andrews unit root test with one structural break to determine the order of integration in the model and Gregory-Hansen -Cointegration method to determine the presence of structural break within Cointegration framework. The results of the study not only confirm the existence of environmental Kuznets curve in the model, it also confirms the presence of structural break in the model
Impact of Behavioral Factors in Making Investment Decisions and Performance: Evidence from Pakistan Stock Exchange
No full textMarket irregularities and irrational behavior triggered investor’s changes in the stock market, and this has led to an investigation into the impact of various behavioral biases and factors affecting decision-making for individual investors. The quality of individual investor behavior in making stock investment decisions is very important to be understood as a reference of the movement of the capital market. This study investigated the role of behavioral finance and investor psychology in investment decision-making at the Pakistan Stock Exchange (PSE). Using a sample of 147 individual investors, the study established that behavioral factors such as Herding, Heuristic, Market and Prospect that affected the decisions of the investors operating at the Pakistan Stock Exchange (PSE). As there are a few studies in Pakistan related to behavioral finance, so this study mainly contributes to the field of behavioral finance in Pakistan. This study focusses on existing theories of behavioral finance which led to develop the hypothesis. The result of the analysis is that the four variables have greatly influenced the investment decision and return on investment. All behavioral variables have a significant impact on the decision-making process of investors, which led to the acceptance of all assumptions regarding the level of influence of behavioral factors in decision making for individual investor
The Equity Risk Premium Puzzle in Pakistan
Full text linkOur study uses the consumption-based asset-pricing power utility model to test theEquity Risk Premium (ERP) puzzle in Pakistan. The study has collected monthly stock pricedata from July 1997 to December 2017 from the PSX data portal. We extracted informationabout macroeconomic factors such as inflation and risk-free interest rate from the State Bankof Pakistan. Moreover, the study used private consumption and population data from thePakistan Bureau of Statistics. The results suggest that the ERP puzzle has a strong occurrencein Pakistan, a phenomenon previously associated with only developed markets. Onedisadvantage of the present investigation is the small sample size. A longer time durationcould have reduced short-term biases. Past researchers have suggested different approachesfor solving the equity premium puzzle. For instance, some studies used improvised structuralmodels to justify the equity risk premium puzzle using macroeconomic factors
Antecedents to Para Social Relationship and its Moderating Effect on Purchase Intention and eWOM
No full textOur study extended the UGT Theory and proposed seven direct and two moderating hypotheses. The study focused on the upper-middle-class segment of Karachi. It examined the effects of self-esteem, loneliness, and introversion on parasocial relationships. The impact of persuasion knowledge on purchase intention and negative eWOM communication and the effect of the parasocial relationship on purchase intention and negative eWOM communication. The study also examined the moderating role of parasocial relationships on purchase intention and negative eWOM communication. The study found that self-esteem, loneliness, and introversion positively affect parasocial relationships. Persuasion knowledge insignificantly affects purchase intention and negative eWOM communication. Parasocial relationships positively affect purchase intention and negative eWOM intentions. Contrarily, the study proposed that these relationships are negatively associated. The study also documents that parasocial relationships insignificantly moderate (i) persuasion knowledge and purchase intention and (ii) persuasion knowledge and negative eWOM communication. These findings suggest that social media influencers can significantly improve consumers' attitudes towards a brand by enhancing parasocial relationships. This, in turn, enhances purchases and reduces negative eWOM intentions. We suggest that when collaborating with digital celebrities, marketers must ensure that the firm’s image aligns with the celebrities' image. We also recommend marketers develop long-term associations with celebrities rather than short-term relationships. We also found that individuals with low self-esteem, loneliness, and introversion are more comfortable interacting on social media. Thus, we propose that social media influencers target individuals with these characteristics
Does Organizational Politics in Public Sector Mediates the Impact of Recruitment and Selection on Employee Performance
Full text linkThe presence of nepotism and favoritism during the execution of recruitment selection has now become a major concern for both developed and developing countries. Based on social exchange theory a framework was established to evaluate contextual performance, adaptive performance, and task performance as a result of recruitment and selection practice in an organization. Besides, the study also investigated the effect of nepotism and favoritism as a mediating variable between recruitment and selection, contextual performance, adaptive performance, and task performance. Moreover, data from 384 respondents working in the tertiary care hospitals in Pakistan were congregated and analyzed using confirmatory factor analysis and structural equation modeling. The results of the study reveal that recruitment and selection have a substantial impact on contextual performance, adaptive performance, and task performance. Consistently, the mediation effect was established. Furthermore, the current study is of significance for the HR managers of the hospital to formulate strategies to overcome this phenomenon particularly in the recruitment & selection process which in the end affects the healthcare employee’s performance
Technological Antecedents of Organizational Agility: PLS SEM Based Analysis Using IT Infrastructure, ERP Assimilation, and Business Intelligence
Full text linkOrganizations often ignore the use information technology infrastructure, Business Intelligence and ERP software to improvise their decision making process due to which organizational agility is suffered. Such organizations fail to make decisions according to the needs of the market that leads to the loss of market share. Based on the contingency theory, conceptual model of this study was developed using the constructs of IT Infrastructure Flexibility, Business Intelligence Use, ERP Assimilation, and Organizational Agility. Survey method was used to collect the data from the managers and executives, who are involved in the key decision making process in any organization. Total 253 out of 265 responses were considered valid and PLS SEM approach was used to test the direct and indirect effects. Results indicate that mediating effect of Business Intelligence Use and ERP Assimilation between IT Infrastructure Flexibility and Organizational Agility has been substantiated. Findings of this study conclude that IT Infrastructure should be improvised, specifically when organization is going to adopt the ERP systems and Business Intelligence to make the timely decisions according to the requirements of the market that ultimately affects the Organizational Agility