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Testing for the underlying dynamics of bank capital buffer and performance nexus
No full textInternational audienceThis paper reveals the underlying dynamics between the capital buffer and bank performance in EU-27 countries. A dynamic panel analysis shows that capital buffer is significantly affected by bank performance and risk exposure. Remarkably, a threshold analysis identifies regime changes for the underlying relationships during the financial crisis of 2008. We find a positive relationship between the capital buffer and performance for banks that fall in the low performance regime, while a negative relationship is reported for the banks that belong to the high regime. Threshold results also show that buffer exerts a positive impact on bank performance. Although regulation reforms that aim to raise the capital requirements could improve bank performance and stability, these improvements are not homogeneous across banks
The bottleneck dilemma at headquarters: new product development for local markets
No full textInternational audienceThis paper aims to explore the condition under which a multinational company’s organizational headquarters influences its development of a localized overseas product
‘All you need is brand love’: a critical review and comprehensive conceptual framework for brand love
No full textInternational audienceBrand love has received increasing attention given its potential to enhance customer engagement, brand advocacy, commitment and loyalty. Despite its relevance, few studies explore brand love per se, and existing conceptualisations remain sporadic and fragmented. The purpose of the current paper is to critically assess available work on brand love, reviewing conceptualisations, measurements and key proximal constructs. Expanding upon and synthesising earlier work and conceptualisations, we develop and propose a comprehensive conceptual framework for brand love that is innovative for the following reasons. In particular, our model takes a developmental rather than a snapshot approach to capture brand love trajectories as a function of their onset and evolution; incorporates key frameworks and as such builds on interpersonal, parasocial and experiential theories; and acknowledges the important role of brand hate. Managerial implications and future research directions are discussed
Currency returns during democratic transition: evidence from Tunisia
No full textInternational audienceThe purpose of this paper is to investigate the question whether democratic transition elections influence currency returns. Also, the paper examines the behavior of the currency market around these elections in Tunisia
On The consideration of carbon emissions in modelling-based supply chain literature: the state of the art, relevant features and research gaps
No full textInternational audienceThis review paper provides the operations management (OM) community with an exhaustive analysis of the mathematical models developed for the problem of low-carbon supply chain management (LCSCM). Our paper belongs to the green supply chain management (GSCM) reviews but is distinguished by its specific interest in analysing research works on supply chain (SC) management regarding the reduction of carbon emissions and its related constraints. To facilitate our benchmarking of the 83 selected papers, we adopt a literature classification based on the logistic decisions studied within the developed models. We distinguish three categories of logistic decisions: operational management, technology investment and SC design coordination. Companies are currently facing great external pressures from governments and their conscientious customers to reduce their overall emissions. We analyse how these environmental constraints, which we believe are key drivers for low-carbon emissions management, have been incorporated into mathematical models. Analysing these external pressures in terms of concern about carbon emissions constitutes our main contribution through this literature review. In addition, companies are facing a challenge to reduce their carbon emissions, which are mainly generated from production, transport and storage activities. Consequently, the modelling of carbon emissions remains a crucial task when addressing the LCSCM problem. We suggest analysing the techniques used thus far to approximate those carbon emissions. Furthermore, to illustrate our literature classification and the features of the LCSCM problem, we provide the framework on which we based our analysis of the selected literature. We discuss the modelling aspects of this problem to highlight the limits of the existing literature and consequently suggest recommendations for future research. We believe that this issue will continue to be one of the top concerns of the OM community within the GSCM field as it continues to gain importance among business leaders, and political and social actors
Application of Neural Networks to Short Time Series Composite Indexes: Evidence from the Nonlinear Autoregressive with Exogenous Inputs (NARX) Model
No full textInternational audienceThe aim of this paper is to extend the index of financial safety (IFS) approach with improving its predictive performance and to show the applicability of artificial neural networks to economic and financial short time series. To this end, prediction is performed by means of the nonlinear autoregressive with exogenous inputs (NARX) model that represents the neural networks and can emulate any nonlinear dynamic state space model. Thus, a NARX model, trained by means of Levenberg–Marquardt algorithm, was chosen since it gave the best performance. Results reveal that the NARX models are suitable for performing short time series composite indexes prediction
Managing the customer experience: a beauty retailer deploys all tactics
No full textInternational audienceThis paper aims to analyze the concept of customer experience in the marketing literature, identify its dimensions and applications in retail companies and integrate it with the concepts of touchpoints and consumer journey; some correlated concepts, such as customer delight and engagement, are also clarified, and an example of best practice customer experience management, using the beauty product company Sephora as a reference is provided
Trust and SME attitudes towards equity financing across Europe
No full textInternational audienceThe decision by a small and medium-sized enterprise (SME) to take on equity requires trust, due to reliance on the good intentions of the parties involved. Drawing on a social capital perspective, we argue that national interpersonal and institutional trust positively influences SME attitudes towards equity financing. We also hypothesize a substitution effect between interpersonal and institutional trust. Through a large survey of European SMEs in 26 countries, we confirm the presence of these direct and interaction effects. By making explicit the link between trust and attitudes to equity financing we extend the theory on institutional drivers of SME financing
From financial markets to Bitcoin markets: A fresh look at the contagion effect
No full textInternational audienceThis article studies contagion effects between traditional financial markets, represented by five equity indices and the EUR, USD, GBP, and JPY centralized Bitcoin markets. We apply a regime switching skew-normal model of asset returns that distinguishes between linear and non-linear contagion and also structural breaks in the periods. We find significant contagion effects from financial to Bitcoin markets in terms of both correlation and co-skewness of market returns. Our results also indicate that during crisis periods, risk-averse investors tend to move away from risky Bitcoin markets towards safer financial markets
The association between intellectual capital and financial performance in the Islamic banking industry
No full textInternational audienceThe purpose of this study is to empirically investigate the impact of intellectual capital (IC) on the financial performance of Islamic banks operating in the Gulf Cooperation Council (GCC) countries