Leadership Styles and Job Satisfaction

Low compensation in the retail sector is adversely affecting employee satisfaction and turnover. Leadership style is important for motivating employees and increasing their satisfaction level. This study has examined the effect of transformational and transactional leadership styles on job satisfaction in selected retail outlets of Slough, United Kingdom. The adapted questionnaire was administered to the employees of the retail outlets. The sample size was 270 and the response rate was 85%. The study found that transformational leadership style has a positive effect on job satisfaction, whereas transactional leadership style has an insignificant effect on job satisfaction. Therefore, it can be argued that the transformational leadership style is more effective in the retail sector of Slough, United Kingdom

Corporate Social Responsibility and Customer Loyalty: Exploring the Role of Satisfaction and Corporate Image in the Banking Industry

This study aims to determine the impact of corporate social responsibility on customerloyalty and satisfaction with the mediating effect of customer satisfaction and the moderatingeffect of corporate image in Pakistan’s banking sector. The study collected 302 responsesfrom the target population. We used a self-administered questionnaire for collecting thedata of banking customers in Pakistan by employing the convenience sampling technique.The study has used the PLS-SEM technique for statistical analysis. The results reveal thatcorporate social responsibility positively influences customer satisfaction. The results alsosuggest that CSR positively affects customer satisfaction. At the same time, CSR has aninsignificant association with customer loyalty. We also found that CS stimulates customerloyalty, and corporate image promotes CL. The results suggest that customer satisfactionmediates CSR and CL. We also found that corporate image does not moderate customerloyalty. Given the importance of CSR, we suggest that banks should allocate considerableresources for CSR activities. CSR is necessary for firms’ growth and sustainability. It also,directly and indirectly, affects the brand image, loyalty, and customer satisfaction. Due to strict regulations, banks have difficulty creating product differentiation; therefore, they relyon strategies such as CSR

Determinants of Firm Value in Shariah Compliant Companies

This study explores the determinants of firm value in Shariah-compliant firms listed on the Pakistan Stock Exchange (PSX). The dataset covers the period from 2009 to 2016 for firms listed on the KMI-30 index. We used three different proxies for firm value, i.e., Tobin’s Q, market-value-to-book value ratio, and log of the market price of shares. Based on regression analysis, we have concluded that firm value significantly and positively influences dividend per share and fixed asset turnover in all model specifications. Further, both the debt ratio and firm size substantially and negatively impact firm value. However, both dividend payout and dividend yield have an insignificant effect on firm value. The mixed results partially support the dividend relevance theories, which imply that the dividend payments influence firm value. Moreover, the results also support the view that a firm’s size and its efficiency in utilizing assets influence its valuation. The results are broadly consistent with previous research on the determinants of firm value. The study will facilitate policymakers in developing suitable policies for regulating Shariah-compliant instruments. Likewise, investors looking for Halal returns on their investments may also gain valuable insights about the determinants of firm value in Shariah-compliant organizations.Keywords: Firm value, Tobin’s Q, market-to-book-value ratio, dividend policy, dividend payout, dividend yield, debt ratio, fixed asset turnover, firm size, Pakistan Stock Exchange (PSX)

Technological Antecedents of Organizational Agility: PLS SEM Based Analysis Using IT Infrastructure, ERP Assimilation, and Business Intelligence

Organizations 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

An Empirical Insight into the Theory and Practices of Capital Budgeting in Pakistan

The study explores the different stages of the capital investment decision process and empirically investigates these stages’ mediating role. We have used firms, managers, and economic attributes as independent variables. Likewise, ROA, ROE, and EPS are used as proxies for measuring firm performance, which is the dependent variable. A survey was conducted through a self-developed questionnaire for non-financial listed firms of the Pakistan Stock Exchange (PSX). The questionnaire comprises of two parts. The first part is related to managers and firm attributes. The second part covers the nine steps of the Capex Appraisal Model (CAM). PLS-SEM was used to investigate the objectives of the study. Moreover, the results support the applicability of CAM in the corporate sector of Pakistan. For this purpose, 27 hypotheses were empirically tested, of which 21 were found to be significant. However, 6 hypotheses were not supported. The findings suggest that the “Capex Appraisal Model” is a useful approach for the corporate sector of Pakistan. Thus, firms should properly evaluate Capex decisions to enhance performance in the long run

Antecedents and Mediating Role of Green Buying Behavior

Sustainability of the environment is one of the major issues both in developed and developing countries. There is an abundance of studies on green buying behavior. However, a few have studied the mediating role of green buying behavior. Thus, we have developed a new model that has five direct and three mediating relationships. This empirical research has used a snowball sampling technique for collecting the data. We distributed 400 questionnaires and received 377 valid responses. The study has used Smart PLS software for data analysis, including reliability, validity, and generating measurement and structural models. We found that green brands, green identification, and social influence are significant predictors of green buying behavior. Further, we find that the green brand image and green buying behavior promote green satisfaction. The results also suggest that green buying behavior mediates (1) green image and green satisfaction, (2) social influence and green buying behavior, (3) self-identification, and green satisfaction. We also found that consumers have a favorable attitude towards green buying behavior. However, there is a huge gap in consumers’ attitudes and actual buying behavior. Thus, marketers and practitioners need to develop strategies that would translate a favorable attitude toward actual buying behavior

Factors Affecting Teachers Job Satisfaction

Teachers in Pakistan and across the world are generally not satisfied with their jobs. This leads towards high turnover and adverse performance. This study has measured the effects of work goals, self-efficacy, positive effect, working conditions, and goal support on teacher’s job satisfaction. The scope of the study was restricted to the school teachers of Karachi. A selfadministered questionnaire from the literature was adapted for the study. The developed model was tested through SEM. Prior to estimating the hypothesized model, the normality, reliability, and validity of the constructs on the present data set was checked. The results suggest that selfefficacy has a strong effect on job satisfaction followed by positive effect and working conditions.Keywords: Job satisfaction, work goals, self-efficacy, goal support, positive effect, working conditions

Behavioural Biases and Investor Decisions

The paper examines the impact of behavioural biases (i.e. cognitive and emotional biases) on investor decisions at the Pakistan Stock Exchange. The data was collected from a sample of 385 active investors in the stock market through a pre-tested questionnaire adapted from Chaffai & Medhioub (2014). The results suggest that five behavioural biases (i.e. anchoring, risk aversion, overconfidence, representativeness and regret aversion) have a positive and significant influence on investor decisions in Pakistan. On the contrary, two behavioural biases (i.e. mental accounting and availability) do not have a statistically significant impact on investor decisions. The findings imply that behavioural factors have a profound effect on investor decisions as argued by behavioural finance theorists.Keywords: Behavioural Finance, Behavioural Biases, Investor Decisions

Does Organizational Politics in Public Sector Mediates the Impact of Recruitment and Selection on Employee Performance

The 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

Audit Reporting Lag and Firm Value in Nigerian Food and Beverage Companies

Delays in financial reporting give a negative signal to the market and adversely affect the company’s market value. Financial reporting lags raise suspicions among market participants regarding concealment of any potential bad news by a firm, which may affect its share value. Thus, the study investigates the interaction of audit reporting lag and firm value in Nigerian beverage and food companies. Audit delays lead to the late publication of financial statements, enhancing the information asymmetry problem, and affecting firm value. We obtained the data from annual reports of 10 listed companies for five years. The Generalized Method of Moments (GMM) estimation is used to analyze the data. The results suggest that audit delays do not affect the market value of a firm. Previous studies mainly focus on the relationship between corporate governance firm characteristics, and audit reporting lag in Nigeria. To the best of our knowledge, the impact of audit delays on firm value in Nigeria is yet to be adequately explored. The finding may help statutory bodies in reducing the period of financial reporting. The results may also help firms improve their performance and promote an environment that may give investors confidence. This study has focused on the food and beverage sector in Nigeria. Future studies can be undertaken in other sectors which may bring more insight to the issues related to financial reporting lags