Pakistan Journal of Commerce and Social Sciences (ISSN 1997-8553)
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Heterogeneous Effects of Economic Policy Uncertainty and Financial Development on Global Renewable Energy Consumption
Get PDFThe objective of this study is to analyze the role of economic policy uncertainty (EPU) and financial development in shaping renewable energy consumption employing panel data of 130 economies from 1990 to 2020. The empirical analysis is based on pooled ordinary least squares, fixed effects, random effects, and system generalized method of moments estimation techniques. The empirical outcomes suggest that EPU is positively connected with global renewable energy consumption (REC). This effect, however, is not consistent across developed and developing economies. In developed countries a rise in EPU is positively linked with REC while in middle- and low-income economies the EPU is negatively associated with REC. Similarly, the effects of financial development on REC vary across income groups. It exerts a favorable effect on REC in developed countries. On the contrary, it has a negative influence on REC in developing countries. These findings suggest that rich economies are taking benefit of REC drivers while the developing world is not exploiting the favorable role of these drivers. Finally, the study also predicts the statistically significant role of economic prosperity, trade, and inflation in explaining the REC. The study offers useful policy implications
Psychological Contract Breach and Happiness at Work in Healthcare sector: Double Mediation of Colleague Support and Deviant Workplace Behaviour
Get PDFThe study examines the association between psychological contract breach (PCB) and happiness at work and the double mediating role of colleague support and deviant workplace behaviour on the relationship of PCB and happiness at work. structural equation modeling (SEM) has been used to analyze the data of 401 questionnaires from the health sector of Lahore, Pakistan. The study discovered support for the negative relationship between PCB and happiness at the workplace. However, colleague support is reduced in the manifestation of a PCB that reduces happiness at work. Similarly, deviant workplace behaviour has been increased in the presence of psychological contract breaches, causing a reduction in happiness at work. The data for the study was conducted during the time of Pandemic COVID19, where there was an immense level of pressure on the health sector, keeping in mind that schedules of doctors and nurses had been extremely stressful, collection of data and responses was challenging. The input of the study is the incorporation of conservation of resource theory (COR) and social exchange theory (SET) during the pandemic situation. The research also provides both theoretical and practical implications and suggests future areas for supplementary studies
Linking Financial Incentives Idiosyncratic Deals with Unethical Pro-Organizational Behaviors in Pharmaceutical Companies: The Mediating Role of Reflective Moral Attentiveness
Get PDFThe purpose of this study is to investigate the mediating role of reflective moral attentiveness in the relationship between financial incentives idiosyncratic deals and unethical pro-organizational behaviors in the pharmaceutical sales sector.
In this study, data collected from 310 sales managers in pharmaceutical companies in Pakistan was analyzed using structural equation modeling (SEM) in SPSS version 23. The study found significant positive relationship between financial incentives idiosyncratic deals and unethical pro-organizational behaviors whereas reflective moral attentiveness statistically mediates between this positive relationship.
The study is the first to describe the role of reflective moral attentiveness in the relationship between financial incentives idiosyncratic deals and unethical pro-organizational behaviors in pharmaceuticals sales sector of Pakistan. The findings of the study have been discussed in detail, including important practical and theoretical implications, limitations, and future directions
Corporate Social Responsibility and Repurchase Intentions: The Parallel Mediation of Consumer Satisfaction and Consumer Trust
Get PDFSustaining desired consumer behaviors is challenging for marketers. Organizations adopt various marketing strategies to retain their consumers, yet the role of corporate social responsibility (CSR) in this regard has been generally overlooked. The current study investigates the relationship between CSR and repurchase intentions of the individual consumer. Drawing on the social exchange theory, we argue that the link between CSR and repurchase intentions is not linear. The study proposes the parallel mediation of customer satisfaction and customer trust to explain this relationship. A mall intercept survey was conducted to collect data from 230 customers of four brands familiar with the respective advertisements and CSR initiatives of these brands. We used Hayes Macro in SPSS using 5000 bootstrap samples to test the proposed model. The results reveal that CSR plays its part in shaping the repurchase intention. The results also support the parallel mediation of consumer satisfaction and trust. It is one of the initial studies that empirically test a holistic framework to realize the role of CSR in developing repurchase intentions. The study contributes to the literature on consumer behavior and social exchange theory by providing empirical evidence from a developing country perspective
Effect of Interest Rate Changes and Dividend Announcements on Stock Returns: Evidence from a Frontier Economy
Get PDFThis paper is motivated from previous work in the area of bank interest rate and dividend policy, and we went further to figure out whether there is any association between interest rate changes and the stock market\u27s reaction to dividend announcements. To conduct this research paper, we used 61 Bangladeshi banks out of 66 banks (excluding central bank) from the period from 2010-2021. After using three different types of estimations (OLS, two stage least squared and GMM) we found that when savings interest rate and dividend increase stock market react positively and our result show that stock market react negatively when savings interest rate and dividend decrease. On the other hand, our results show that when loan interest rate and dividend increase stock market react more negatively and if loan interest rate and dividend decrease stock market react more positively
Environmental Performance of Budget Hotels inPakistan. Nexus of Environmental Orientation,Eco-innovation and Competitive Intensity
Get PDFThe current study aims to investigate the influence of budget-hotels\u27 environmental orientation (EO) on their eco-innovation (EI) and environmental performance (EP). Besides empirically testing the said direct relationship, mediating role of EI in the relationship between EO and EP has also been investigated. Moderating effect of competitive intensity (CI) of the firm has also been examined on the link between EI and EP. The requisite data for this study was collected from 422 individuals, working on various managerial positions in the budget-hotels in Pakistan. Correlation, path analysis, structural equation modelling and hierarchical regression were used for the purpose of data analysis.
Data analysis using SPSS and AMOS reveals a direct effect of EO on EI and EP. Moreover, the results substantiated that EI mediates between EO and EP. Moderating effect of CI on the link between EI and EP has also been confirmed. The study advocates new mechanisms which would be helpful in protecting natural environment. In the context of budget hotel segment of hospitality industry of Pakistan, the present study makes significant contribution to the literature through knowledge addition regarding the positive association of EO and EI.
Linking Celebrity Endorsement and Luxury Brand Purchase Intentions through Signaling Theory: A Serial-Mediation Model involving Psychological Ownership, Brand Trust and Brand Attitude
Get PDFCelebrity endorsements create a magnitude of meaningful differences among luxury brands that subsequently generate skyrocketing sales fueled by celebrity-inspired consumer’s confidence. The present study explores the impact of celebrity endorsements as a modern marketing technique on customers\u27 purchase of luxury brands. Applying the signaling theory and quantitative research approach, a standardized questionnaire facilitated a survey of 300 potential buyers of luxury brands in Pakistan. The partial-least squares structural equation model (PLS-SEM) based findings revealed that celebrity endorser has a favorable impact on consumers\u27 perceptions of psychological ownership, brand trust and brand attitude. Notably, the customer’s psychological ownership, brand trust, and brand attitude significantly mediate celebrity endorsement and luxury brand purchase intentions through multiple pathways. The present study offers new insights on the theoretical and practical consequences of celebrity endorsement for luxury brands, especially pinpointing the potential mediating channels (i.e., psychological ownership, brand trust, and brand attitude) that can significantly enhance customer’s confidence and purchase intentions of luxury brands
COVID-19 Impact on B2B E-Commerce: A Multi-Group Analysis of Sports and Surgical SMEs
Get PDFThe COVID-19 has forever changed the way firms use digital solutions for their B2B ecommerce activities. During this pandemic, only those industries are surviving, which have shifted their business model to online. Most of the counties’ SME growth is badly affected by the COVID-19. Business-to-business e-commerce (B2B) is essential for a rapidly changing business environment and increases SME\u27s overall performance. The study aims to explore the influence of technological (relative advantage and technology readiness), organizational (cost of adoption and top management support), and environmental (government support and competitive pressure) factors of the technological, organizational, and environmental (TOE) model on B2B e-commerce. The research framework was developed based on diffusion of innovation (DOI) theory and the TOE model. The research collects data from two heterogeneous groups sports and surgical. The 500 questionnaires were distributed to top and middle-level managers of Pakistan\u27s manufacturing SMEs. Thus, 262 were returned. The study applies multi-group analysis by using the SmartPLS 3.3.2 to investigate the hypothesized relationships. The result shows that technological factors have a significant positive relationship with B2B e-commerce in sports and surgical SMEs. However, competitive pressure as an environmental factor differs in sports and surgical SMEs to use B2B e-commerce. The study provides theoretical and practical implications. The study helps SME managers and practitioners in understanding the underlying factors for the successful implementation of e-commerce
The Impact of Financial Globalization on Output Volatility: Panel Data Evidence for Asian Countries
Get PDFThis study is an endeavor to empirically examine the long run impact of financial globalization on output volatility in a balanced panel of selected 22 Asian countries (full sample) during 1998-2015. The disaggregated analysis is also conducted with respect to Central Asia, East Asia, South Asia and West Asia. The study uses System Generalized Method of Moments for estimation purpose. The results of the study reveal that in overall Asia and Central Asia, financial globalization has emerged as a significant and positive long run determinant of output volatility, whereas insignificance of financial globalization is reported in the context of three sub-samples i.e. East Asia, South Asia and West Asia during reference period. The empirical results appear to be strongly robust in terms of sign, significance and magnitude. To curtail Asia’s output volatility this study calls for the use of selective and screened financial globalization during transition phase of building strong institutions. This study is noteworthy as it contributes to limited existing empirical literature on Asia’s output volatility. It yields empirical estimates on subject matter in aggregated panel of Asia and in each disaggregated panel of Asia i.e. Central Asia, East Asia, South Asia and West Asia
Perceived Workplace Ostracism and Deviant Workplace Behavior: The Moderating Effect of Psychological Capital
Get PDFMany workplaces have paid more attention to employee behavior in a competitive, dynamic, and expanding business environment since it impacts productivity, efficiency, and effectiveness. These employee behaviors can either be positive or negative. Deviant workplace behaviors are such a form of negative behavior that fallouts as a result of workplace ostracism. The degree to which an employee practices any deviant workplace behaviors is determined by his/her level of psychological capital. Hence this study aimed at finding the moderating role of psychological capital on the relationship between perceived workplace ostracism and deviant workplace behaviors among software engineers in the Information Technology (IT) sector in Sri Lanka. Accordingly, the data collection was done from 186 software engineers using the simple random sampling method. Further, the data analysis was done using the Partial Least Squares - Structural Equation Modelling (PLS-SEM) method with Smart-PLS 3 software.
After the data analysis, the study findings revealed that perceived workplace ostracism positively impacts deviant workplace behavior, and psychological capital moderates the association between perceived workplace ostracism and deviant workplace behavior. Furthermore, the research findings brought valuable theoretical and managerial implications regarding human resources practices that could control workplace ostracism and deviant workplace behaviors while enhancing psychological capital, followed by implications and future research directions