Pakistan Journal of Commerce and Social Sciences (ISSN 1997-8553)
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Organizational Socialization and Supervisor Rated Job Performance: The Moderating Role of Value Congruence
Get PDFThe aim of this study is to examine the direct relationship between organizational socialization and supervisor rated job performance along with moderating role of value congruence. The study is time lagged and data is collected in two time lags from the newly joined teachers of different colleges/universities. Sample size of the study is 300. Data was analyzed using Structure Equation Modeling technique and Haye‟s PROCESS model for moderation.
The authors found significant direct relationship between organizational socialization and newcomers‟ job performance. Further, moderating role of value congruence in the direct relationship is also proved. The study proves that organizations should hire those employees who have value congruence with organizational values and should focus upon organizational socialization strategies for them to increase their job performance. Moreover, the study proves that value congruence moderates the relationship between organizational socialization strategies and supervisor rated job performance
Role of Service Quality and Customer Satisfaction in Firms Performance: Evidence from Pakistan Hotel Industry
Get PDFThe purpose of the study is to investigate the effect of customer’s satisfaction and service quality towards the hotels’ performance by applying SERVQUAL model. The data was collected from the 1429 hotel customers of selected cities of Khyber Pakhtunkhwa (Peshawar, Swat, Chitral, Naran, Abbottabad, Galiat), Punjab (Lahore, Rawalpindi) and the capital city (Islamabad) of Pakistan. The sample of hotels comprised of 10 hotels from each city and 20 customers at each hotel were taken as respondents. The researchers used regression and factor analysis for analyzing the data. The results revealed that service attributes have a significant optimistic effect on customer satisfaction. Moreover, service assurance is found significantly negative predictor of customer satisfaction. Consequences of the study exhibit that constructive connection exists amid expected and actual attributes of service quality and customer satisfaction. The study considered that the hotel customers experience is the key factor in the hospitality industry
The Impact of Corporate Governance and Intellectual Capital on Firm’s Performance and Corporate Social Responsibility Disclosure
Get PDFWhether the corporate governance (CG) and intellectual capital (IC) affects the firms’ financial performance and corporate social responsibility (CSR) disclosure of Australian stock exchange (ASX) listed firms or not? To answer this crucial question we use the data of all firms listed at ASX for the year 2014. Using the Partial Least Square based Structural Equation Modeling (PLS-SEM) we find reliable evidence that the main driving force behind the CSR disclosure in ASX listed firms is CG rather than IC. These results suggest that, the firms with sound corporate governance practices are more environment-friendly. In addition, we also find that both CG and IC are associated with improved firm financial performance. Our study is helpful for both Australian government and regulatory bodies that are keenly interested in improving the policies on the issues of global warming (i.e. climate change, carbon emission trading schemes, and preservation of natural capital) by providing the empirical evidence that the strong CG practices are not only beneficial for the shareholders but also for the society
Refining the Relationship between Entrepreneurial Skills and Start-Up-Behavior: The Role of Fear of Failure and Age-Based Self-Image
Get PDFThis study provides information about how entrepreneurial skills (pro-activity, risk tolerance, and creativity) affect start-up-behavior. This study integrates entrepreneurial skills as an important aspect to the proposed model based on Ajzen’s theory to establish intention-behavior link. Furthermore, fear of failure and age-based self-image are featured as negative aspects in this model to explore how these two factors deteriorate intention-behavior link. Data were collected from owner/managers of SMEs in Pakistan. Descriptive statistics, moderated hierarchical regression and structural equation modeling (SEM) approach were used for the purpose of analysis. The findings revealed that entrepreneurial skills have a positive relationship with perceived behavior control, subjective norms, and personal attitude. Furthermore, results of the study showed that perceived behavior control, subjective norms, and personal attitude also have positive relations with start-up intentions leading to start-up behavior. Moreover, the results suggested a negative moderation effect of fear of failure and age-based self-image on intention-behavior link
Food and Non-Food Prices Nexus in Developing Economies: Disaggregated Panel Data Analysis
Get PDFIn this paper, an attempt has been made to examine a new transmission mechanism of inflation that is effect of food prices on non-food prices. The panel generalized method of moment (GMM) has been employed on the panels of 47 developing countries disaggregated by income, i.e. low-income, lower-middle income and upper-middle income countries. The data-set covers the time period of 2000 to 2014. The panel Granger causality tests like error correction model, panel Stacked and Dumitrescu Hurlin test of causality are also employed to see the direction of causality between food prices and non-food prices. The results of panel GMM estimation indicate that food prices positively affect non-food prices in all the income groups of economies. The causality direction is also found from food prices to non-food prices in these groups of economies. It concludes that inflation transmission mechanism of food prices to non-food prices exists in developing countries. For policy making, it is suggested that any attempt to control inflation in developing economies, one component of anti-inflationary policy should be to control the food prices.
Interplay among Work Engagement, Cynicism, and Turnover Intentions: A Structural Equation Modeling Approach
Get PDFWork engagement has produced a lot of enthusiasm and significance in the research fields predominantly in organization behavior and now a day‘s generally utilized trend for organizational consultants. The main objective of this study was to find out the mediating role of work engagement between, cynicism and turnover intentions among the employees working in public sector universities. An attempt was made to construct a model which measured the mediating effects work engagement between cynicism and turnover intentions. Demographic variables and other relevant were analyzed through SPSS V 22 and structure equation model SEM was used to find out the effects of work engagement as mediating variable was measured by AMOS V 20. Work engagement was used as mediating variable between cynicism and turnover intentions.
Findings of the study provide evidence that indirect effects show negative and significant relationships exist between cynicism and work engagement and significant but negative relationship between work engagements and employee turnover intentions. On the other hand, the total and direct effects describes that cynicism are positive and significantly correlated with employee‘s turnover intentions and work engagement play mediating role. The mediating role of work engagement influence cynicism on the relationship of direct and indirect effects which further recommends that employee job dimensions can affect working atmosphere along with administrative behaviors and attitudes in various directions
Relationship between Intellectual Capital and Financial Performance: The Moderating Role of Knowledge Assets
Get PDFBeyond the recent studies on intellectual capital (IC), we investigate whether knowledge assets (KA) moderate the relationship between IC and firm performance (FP). We use the recent data of all Australian Stock Exchange (ASX) listed companies. To test the developed hypotheses, we use structural equation modeling (SEM) techniques. After ensuring the validity and reliability of measurement model, we find reliable evidence that KA strengthens the relationship between IC and FP, which suggest that the value of Australian listed firms can be synergized with IC and KA. In addition, our results show that IC and its components are positively associated with firms’ financial performance. Similarly, KA is also positively associated with improved firm performance. This study contributes towards the literatures because this is the first study that explores the moderating role of KA in measuring the impact of intellectual capital on the firm’s financial performance
Corporate Governance Structure, Legal Environment, and Valuation
Get PDFThis study consists of two separate sections; both sections can be read individually but share a common theme in Corporate Governance (CG). In the first section, a unique approach is presented to test whether the manner through which corporate governance structure influence stock market liquidity depends on countries’ legal systems, using data from 10 emerging countries. Additionally, this study also examine whether legal institutions (i.e., judicial efficiency and political stability) enhances the level of investors participation and hence stock market liquidity. The second section seeks to explore the value relevance of firm level CG practices and legal origin.
We employ governance rating consists of three categories. CG data and financial data covers the period 2003-2014. The final sample comprises of 644 firms from 10 countries. Ordinary Least Squares and System Generalized Method of Movement are employed to carry out the empirical analysis.
The findings from the first section favor the hypothesis that firm-level governance structure and country’s legal origin complements each other. We find evidence that as compared to common law countries, costs of liquidity are larger for companies in countries with civil law origin. This result implies that countries with common law origin have lower illiquidity, implying higher stock market liquidity. Nevertheless, the findings also indicate that although higher firm-level governance structure enhances liquidity of the stock market, this result for countries with civil law origin is weaker. Yet, the findings reveal that stock market liquidity is much higher in countries with higher political stability and judicial efficiency. The results from second section reveal that CG plays a positive and significant role in market valuation. Furthermore, the analysis indicates that CG is more important in enhancing firm value in countries with common origin as compared to the countries with civil origin.
This study uses a broad CG measure to study its relation with stock market liquidit y and market valuation, which has not been studied before, specifically in emerging markets. The findings of this study have important implications for managers, investors, and regulators, and may add significant contributions to the accounting and finance literature
Democracy, Income Inequality and Economic Growth Nexus: The Case of Pakistan
Get PDFDemocracy, income inequality and economic development are considered to be interlinked with one another in a complex way. The weak growth of political institutions and uncertainty about the continuity of democratic regimes in Pakistan has important consequences for the economic growth and level of income inequality. We analyzed the interaction among democracy, income inequality and economic growth during 1963-2016 using 3SLS and alternative estimation methods. Our findings suggest that democracy, income inequality and economic development are endogenously interlinked in Pakistan. The significance of this study lies in the fact that it highlights the intrinsic value of the political institutions and their benign role in promoting economic growth and reducing inequality. The level of inequality affects the economic growth negatively but conversely economic growth rate does not have a significant impact on inequality thus rejecting the trickle down hypothesis. Inequality is also found to have a significant negative impact on the democracy. Democracy and public expenditures on community, social and public services also reduce inequality
Identifying Key Areas of Worklife and Their Interactive Effect in Explaining Pakistani Nurses’ Burnout
Get PDFWe examined the effect of incongruence in the areas of worklife (AWL) on burnout of nurses. Specifically, we were interested in identifying the most important AWL and interactions among AWL and psychological resilience in explaining nurses’ burnout. Incongruence in the worklife escalates burnout and resilience is a coping trait. The phenomenon needs to be studied in developing countries where entirely different health dilemmas exist. A cross sectional survey was conducted from 147 nurses. SEM through AMOS 21 and Process Macro of SPSS was used for data analysis. Two AWL namely control and reward, emerged out to be the most important factors in explaining burnout; community further mitigated reward-burnout relationship. Also, psychological resilience has a powerful independent explanatory role. Healthcare work environment must be equipped to minimize incongruence of the AWL. This congruence would need job redesigning to increase control of nurses over their jobs and reinforcement with all kinds of reward coupled with a supportive co-worker’s community