SMEs Intention towards Use and Adoption of Digital Financial Services

The purpose of this study is to analyses the SMEs owners and managers intention towards use and adoption of digital financial services in South Punjab, Pakistsan. SMEs are considered key contributors to economic activity, as a key-source of employment, growth, and invention. SMEs perform significant role in the system of national financial regulation all over the world, Jobs creation, and contributing to modernization in the financial regulation are significant exertions to achieve ecological sustainability and more growth in access to finance. Access to finance in emerging countries is one of core issue in development of SME sector as well as obstacle in economic growth. Microfinance institutions are considered a good manifesto to enhance access to inclusive finance as well as stress-free access to finance and financial literacy for SMEs to support economic growth but in Pakistan, to obtain these finances not easy for SMEs sectors. SMEs are unfortunately still struggling due to lack of inclusive finance and financial literacy. Recently financial institution introduced digital financial services at micro level that provide access to financial services to each and every citizen in the country without any restriction. To accomplish the purpose of the research, the data was acquired from the SMEs owners and mangers with a sample of 232 chosen randomly of South Punjab, Pakistan. In this research study, merged two best theories; the theory of planned behavior and technology acceptance model was used to describe their behavior. Multiple statistical tests run to check the normality by using Shapiro-Wilk test, reliability and multicollinearity of the data to test the assumptions of regression and correlation. Finally, the results of this intended study revealed that there is a moderate significant but positive relationship between the SMEs owners and managers intention towards use and adoption of digital financial services. The Government of Pakistan should create finance related awareness program, training, technical institution and make a rules and regulation. Further this study suggests to researchers that focus on internal and as well as external factors of SMEs in Pakistan

Impact of sustainable supply chain linkages with BOP firms on MNEs' internationalization: mediating role of market knowledge competence

Multinational Enterprises (MNEs) are increasingly interested in engaging with Base of Pyramid (BoP) enterprises in host market as part of their global supply chain networks in pursuit of internationalization strategy. Recently, the literature in international marketing has emerged to shed light on potential of engaging BoP enterprises in MNEs' supply chain networks. Present study extends the theory of network internationalization. It investigates the influence of MNEs' sustainable/inclusive supply chain linkages with BoP enterprises in host market on market knowledge competence of managers and thereby internationalization strategy of MNEs in host market. Quantitative research design is used to empirically examine the key relationship theorized by the study. The data has been collected using structured questionnaire filled by sample of marketing/supply chain managers in MNEs which have maintained BoP supply chain cluster in their business model in Pakistan. The results of study indicate that sustainable/inclusive supply chain cluster linkages have significant positive impact on market knowledge competence of supply chain managers and on internationalization of MNEs in host market. Further studies may be conducted on BoP supply chain linkages of emerging market MN Es in home market to analyze its impact on their performance in foreign host markets. Nonetheless, findings of the study can be useful to managers in MN Es who are interested in their firms' market penetration in foreign host markets. The outcomes of the study also have implication for policy makers in developing countries interested in poverty alleviation through market based policy interventions

Consumer's Attitude towards Green Supply Chain Practices and its impact on their Intentions to Buy at Fast Food Restaurants in Bahawalpur, Pakistan

The purpose of this study is to find the impact of consumer perception on green supply chain practices in fast food places in South Punjab, Pakistan. Green supply chain practices focus on assimilating environmental thinking into the conventional supply chain, including areas like product design, material sourcing and selection, manufacturing processes, delivery of the final product as well as end-of-life management of the product after its useful life. To put it simply, green supply chain practices deal in creating an environmentally friendly supply chain that will result in an organization that not only sustains itself, but also the environment around it. This research work was conducted in South Punjab, Pakistan to see whether or not people perceived green supply chain practices important and whether that would affect their decision to dine at a certain place. To serve the purpose of the research, the data was acquired from the general population of South Punjab. The respondents included students from intermediate, people who held jobs, housewives etc. with a sample of 260 chosen randomly. The overall findings state that consumer perception is significantly affected by green supply chain practices in the fast food industry. The research is limited due to the time constraints, financial constraints and limited availability of the data. The results of this research study may not generalize to other province of the Pakistan as the study is conducted only in the context of South Punjab

Hospital Service Quality and Patient Satisfaction: A Moderating Role of Trustworthiness

 The aim of the present study is to determine the effects of hospital service qualities on patient satisfaction in the healthcare sector of Pakistan. By using the non-probability sampling, 292 sample was gathered. Emotional exhaustion, organizational citizenship behavior, hospital and nurses facilities were used as predictors and trustworthiness was used as a moderator. The results from structural equation modeling revealed that hospital facilities quality and OCB have been found positively significant while nursing service quality and emotional exhaustion have been found insignificant in relation with patient satisfaction. Moreover, trustworthiness does not moderates any relationship in the structural model. The study concluded that the staff allocated is manifesting form of behavioral citizenship structured by cultural decorum and locally acceptable norms. Alongside citizenship, high quality miscellaneous supportive provisions comprising of sufficient backup equipment, medical apparatus and tools as well as the regular maintenance of utilities stand as considerable satisfaction determining aspects for patients. The cognitive dimensions in the form of trust structuring attributes don’t really add much to the contributions of facilities and citizenship found in hospitals

Influence of Supply Chain Linkages with BoP Enterprises on Market Knowledge Competence and Propensity to Internationalization of MNEs: A Measurement Model

Objectives: There has been growing interest in network theory of internationalization as a means to achieve ‘cooperative advantage’ and ‘economies of networking’.Yet there is seldom any measurement model that may offer quantitative approach and tools to analyze role of supply chain linkages of Base of Pyramid (BoP) enterprises with MNE subsidiaries in host markets.Design/Methods: The study makes use of statistical data reduction techniques such as factor analysis to test reliability and validity of the proposed model using data obtained through a structured questionnaire from supply chain/marketing managers of MNEs with backward and/forward supply chain linkages with BoP firms in Pakistan.Results: The study develops a measurement framework and structured questionnaire to analyze impact of sustainable/inclusive supply chain linkages as exogenous variable with the variables of subsidiary internationalization in host markets. Implications/originality/value: The study offers implications for linking vast sector of micro and small enterprises with value chain network as economic agents of MNEs to support its innovation and market outreach strategy in a sustainable manner.Further empirical studies are needed to validate and extend the hypothesized relationships of proposed model of sustainable internationalization

CAPM based Quantification of Bankruptcy Risk: A Heuristic Approach

This paper builds on Capital Asset Pricing Model (CAPM) and its ability to validate market and firm specific risk. The effort is aimed at ascertaining the role of bankruptcy risk in determining the cost of capital in firms and its impact on corporate valuation. We also attempt to replace and analyze disparity of systematic and unsystematic components of risk with bankruptcy and risk of future liquidity. A similar study has recently been carried out in Indian market by Shirur (2013) for checking the validity of beta and cumulative risk measurement for identifying the presence of bankruptcy risk. This research may be the first attempt at analyzing such semantics with data from Pakistan. Therefore, the current study attempts to investigate the role of bankruptcy risk in determining the cost of capital in corporate valuation and the need of segregating systematic risk and unsystematic risk into liquidity risk and bankruptcy risk. The findings of this study suggest that unsystematic risk shall be eluded while investing in a well-diversified portfolio, but after investing in a specific firm, the unsystematic risk needs to be incorporated in total corporate valuation

FROM NETWORK ADVANTAGE TO BOP NETWORK ADVANTAGE: PATH TO SUSTAINABLE VALUE CREATION AND INTERNATIONALIZATION

Recent developments in theories of Base of Pyramid (BoP) focus on engaging low-income population as business affiliates in developing countries. Theories of BoP cluster linkages and firms’ internationalization are well established in the literature yet there is scarcity of theoretical postulations which may connect the two. This study, using inductive qualitative methods, aims to extend network theory of internationalization by identifying linkage between inclusive supply chain cluster linkages with BoP firms and internationalization strategy of MNEs in developing host markets. This study focuses on the social sustainability of MNEs operations in host markets. Proposed model postulates sustainable/inclusive supply chain linkages with BoP enterprises as an exogenous variable that generates sustainable value creation process i.e. inclusive innovation and inclusive entrepreneurship. These sustainable/inclusive supply chain linkages, moreover, influence key determinants of MNEs’ internationalization strategy such as market knowledge competence, cooperative capability and native capability/ local embeddedness. The proposed model offers significant addition to the literature on internationalization of and shared value creation in MNEs

Influence of Supply Chain Linkages with BoP Enterprises on Market Knowledge Competence and Propensity to Internationalization of MNEs: A Measurement Model

Objectives: There has been growing interest in network theory of internationalization as a means to achieve 'cooperative advantage' and 'economies of networking'. Yet there is seldom any measurement model that may offer quantitative approach and tools to analyze role of supply chain linkages of Base of Pyramid (BoP) enterprises with MNE subsidiaries in host markets. Design/Methods: The study makes use of statistical data reduction techniques such as factor analysis to test reliability and validity of the proposed model using data obtained through a structured questionnaire from supply chain/marketing managers of MNEs with backward and/forward supply chain linkages with BoP firms in Pakistan Results: The study develops a measurement framework and structured questionnaire to analyze impact of sustainable/inclusive supply chain linkages as exogenous variable with the variables of subsidiary internationalization in host markets. Implications/originality/value: The study offers implications for linking vast sector of micro and small enterprises with value chain network as economic agents of MNEs to support its innovation and market outreach strategy in a sustainable manner. Further empirical studies are needed to validate and extend the hypothesized relationships of proposed model of sustainable internationalization

SME ACCESS TO FINANCE IN EMERGING ECONOMIES: A COMPARATIVE STUDY OF PAKISTAN AND MALAYSIA

It has been widely accepted that SMEs make a significant contribution to the socio-economic and political infrastructure in both developed and developing countries. SMEs make up more than 96% of all businesses in emerging economies that provide two out of three private sector jobs. Yet, the importance of SMEs notwithstanding as confronted with several hindrances which impede their development. In emerging economies access to finance has been found as one of the major constraints to SMEs growth. In Malaysia and Pakistan SMEs contributing towards economic growth, however huge finance gap for SME sector exist in both countries. By summarizing current data this paper highlights the share of SME sector towards economic growth, financing gap and supply/demand side challenges towards access to finance in Malaysia and Pakistan. The comparison of both countries revealed that challenges are more severe in lower-middle income country (Pakistan) because of inappropriate policies and their implementation. However, the upper-middle income country (Malaysia) consistent growth can minimize the finance gap for SME sector quickly. JEL Code: M

RESISTANCE FACTORS TO COMMUNITY PARTICIPATION IN SUSTAINABLE TOURISM DEVELOPMENT IN NORTHERN SUMATRA INDONESIA

This study aims to examine conceptual and empirical evidence about the perceptions of local community consisting of residents and small and medium entrepreneurs engaged in tourism in Northern Sumatra Indonesia. This study will review, assess, and identify the obstacles that are detrimental to community participation and successful tourism development in a given destination. Community development is part of tourism development of any destination. It has become a priority of relevant authorities to achieve sustainable development goals through tourism development. This review, moreover, will discuss how community participation and development can promote sustainable development of tourism. Discussion has focused on the inhibition factors such as the opportunities for cooperation with successful entrepreneurs; entrepreneurial and job opportunities, entrepreneurship and involvement in promoting of local products. This study investigated local residents as the sampling unit. The data has been analyzed using statistical methods through SPSS. The results depict that community participation in terms of entrepreneurial collaboration among population and product development have significant effect on development of tourism destination. It is recommended that a comprehensive study should be carried out in greater depth