JournalTOCs

Organizations and Markets in Emerging Economies
Number of Followers: 1

This is an Open Access Journal

Open Access journal
ISSN (Print) 2029-4581 - ISSN (Online) 2345-0037
Published by Vilnius University

[38 journals]

Editorial Board and Table of Contents
- Authors: Sigitas Urbonavicius
  Pages: 1 - 5
  Abstract: -
  PubDate: 2023-05-29
  Issue No: Vol. 14, No. 1(27) (2023)
Assessment of Stock Market Liquidity and Efficiency: Evidence from an
Emerging Country
- Authors: Reema Monga, Deepti Aggrawal, Jagvinder Singh
  Pages: 6 - 25
  Abstract: The study examines the market efficiency, multi-dimensions of liquidity, and their interconnectedness for the Emerging Indian Stock Market. In contrast to the extant literature, the current study involves testing the market liquidity considering multi-dimensions such as depth, breadth, immediacy, tightness, and resiliency. Second, the study used a battery of tests to determine efficiency, including the Ljung and Box, runs test, Bartel test, Variance ratio, and BDS tests. Furthermore, using five quintiles classified by market depth, the linkage of market efficiency and liquidity is also being investigated. The findings show that during the pandemic, the Indian stock market has been proven to be efficient, suggesting that there are no abnormal returns. Moreover, the research demonstrates that during the COVID-19 pandemic, large volumes of securities are traded quickly and at a lower price effect, but with higher trading costs for completing a market transaction. However, it is worth noting that increased liquidity equates to greater efficiency, while lower liquidity equates to inefficiency.
  PubDate: 2023-05-29
  DOI: 10.15388/omee.2023.14.80
  Issue No: Vol. 14, No. 1(27) (2023)
Global Value Chain and Total Factor Productivity in Africa
- Authors: Folorunsho M. Ajide
  Pages: 26 - 55
  Abstract: This paper examines the impact of global value chain (GVC) participation on total factor productivity in African economies. The analysis is based on panel corrected standard errors, IV-estimation technique and the novel Method of Moment (MM)-panel quantile regression. The results reveal that there is positive and significant relationship between global value chain and total factor productivity in African economies. Specifically, we discover that the impact of GVC participation on total factor productivity is positive and significant. This result is consistent across all the quartiles after employing MM-panel quartile regression. The coefficients of global value chains improve as we approach a higher quantile. The study concludes that GVC participation allows access to a larger global market which local firms may explore to gain from scale economies, and to learn using modern technology and innovations. It facilitates connections to cheaper and quality inputs for domestic production, while efficiency is guaranteed.
  PubDate: 2023-05-29
  DOI: 10.15388/omee.2023.14.81
  Issue No: Vol. 14, No. 1(27) (2023)
Austerity Measures, Infrastructure and Economic Development in South
Africa (1996–2019)
- Authors: Kukhanyile Mali, Johannes Sheefeni
  Pages: 56 - 82
  Abstract: The paper aims to establish whether austerity measures promote economic development, improve infrastructure development, and whether they exacerbate infrastructure backlogs. The methodology used is a quantitative research method, sourcing secondary quarterly data from the South African Reserve Bank. The VAR model is used to analyse data between 1994 and 2019. The results showed that austerity measures have a significantly negative role in economic development. Also, they slow down investments that are crucial for infrastructure development. The results also pointed to the exacerbation of infrastructure backlogs caused by austerity measures.
  PubDate: 2023-05-29
  DOI: 10.15388/omee.2023.14.82
  Issue No: Vol. 14, No. 1(27) (2023)
Customer Empowerment and Engagement Behaviours Influencing Value for
FinTech Customers: An Empirical Study from India
- Authors: Archana Nayak Kini, Savitha Basri
  Pages: 83 - 109
  Abstract: The article aims to study the impact of consumer empowerment on customer engagement behaviours (CEBs) and their effect on customer value in the FinTech industry of India. A cross-sectional analytical study was carried out to collect data from 380 Indian FinTech app users using a survey questionnaire. The Partial Least Square Structural Equation Modelling (PLS-SEM) method was applied to test the conceptual model. This is one of the first research studies during the COVID-19 pandemic to show that customer-empowered behaviours predict positive CEBs such as reviews and testimonials, which then contribute to customer value. The indirect effects indicate that CEB mediates the relationship between customer empowerment and value. This study also operationalizes and validates customer engagement behaviour as a formative higher-order construct formed by four dimensions such as customers’ social media influence, form/modality, the scope and channel of engagement. To create customer value, FinTech practitioners and e-marketers should foster online communities and identify and manage customers’ need for control and empowerment for a particular service or product under study thus guiding them in designing customized marketing strategies. The study directs academicians and researchers to build engagement models that can enforce positive CEBs namely e-word of mouth, customer reviews and testimonials.
  PubDate: 2023-05-29
  DOI: 10.15388/omee.2023.14.83
  Issue No: Vol. 14, No. 1(27) (2023)
The Role of Entrepreneurial Orientation and Learning on the Performance of
Junior Enterprises
- Authors: Jeferson Carlin dos Santos, Hermes Moretti Ribeiro da Silva, Gustavo Hermínio Salati Marcondes de Moraes, Fernanda Cortegoso de Oliveira Frascareli
  Pages: 110 - 132
  Abstract: This study aims to develop a model that analyzes the influence of learning orientation (LO) and entrepreneurial orientation (EO) as antecedents of performance in junior enterprises (JEs). To this end, a research model was developed and tested through a survey of a sample of 235 presidents of Brazilian Junior Enterprises. Through the Structural Modeling Equation (SME) technique, the effects of each of the variables on the performance of JEs were evaluated. The results indicate that both the EO and LO dimensions have a positive impact on the performance of this type of a company. Therefore, this study advances the understanding of the impact of strategic dimensions in a new context, as well as making direct contributions to these companies and other interested parties to use the results presented to support the construction of new strategies for improving performance.
  PubDate: 2023-05-29
  DOI: 10.15388/omee.2023.14.84
  Issue No: Vol. 14, No. 1(27) (2023)
The Effects of Brand Hypocrisy on Consumer Evaluations and Behaviors:
Moderating Role of Nutrition Consciousness
- Authors: Fuat Erol
  Pages: 133 - 151
  Abstract: Many individuals accuse brands of hypocrisy for lacking transparency and sincerity, which could harm the brands’ image and lead to negative evaluations. Accusations of hypocrisy can also result in negative behavioral outcomes, such as brand distance and negative word of mouth (nWOM). This is particularly true for food brands, as it depends on individuals’ nutrition consciousness. Therefore, this study aims to explore the serial mediating effect of brand image and brand evaluations of the effect of the brand (mission) hypocrisy on both brand distance and nWOM, and the moderating role of nutrition consciousness on these indirect effects. Data was collected from 463 Turkish participants, and moderated serial mediation analyses were performed to test the research hypotheses. As a result, brand hypocrisy has a direct effect on brand evaluations, brand distance, and nWOM; nutrition consciousness has a moderating role on the effect of brand hypocrisy on brand image, and finally, brand image and brand evaluations serially mediate the effect of brand hypocrisy on brand distance and nWOM, where nutrition consciousness moderates both indirect effects. Thus, the current study theoretically and empirically advances the limited literature on brand hypocrisy and nutrition consciousness, and focuses on the assessment process of individuals and its behavioral outcomes.
  PubDate: 2023-05-29
  DOI: 10.15388/omee.2023.14.85
  Issue No: Vol. 14, No. 1(27) (2023)
Low Consumer Social Responsibility Increases Willingness to Buy from Large
vs. Small Companies
- Authors: Elze Uzdavinyte, Zivile Kaminskiene
  Pages: 152 - 170
  Abstract: Previous research mainly concentrated on the link between the company size and consumer perceptions related to corporate social responsibility (CSR). Here we aim to extend the previous findings to the context of the consumer’s individual trait of social responsibility. Building on signaling theory, we analyze such signals as company size and demonstrate that consumers have a decreased willingness to buy a product originating from a large company as compared to a small company. However, the effect flips for consumers with low social responsibility as they show a higher willingness to buy large company products. We contribute to signaling theory by showing that consumer traits such as consumer social responsibility can play an important role in the effectiveness of the signal. In addition, these findings contribute to consumer social responsibility research as well as consumer behavior literature by showing that the company size effect is moderated by consumer social responsibility. Theoretical and managerial implications are discussed together with directions for future research.
  PubDate: 2023-05-29
  DOI: 10.15388/omee.2023.14.86
  Issue No: Vol. 14, No. 1(27) (2023)
Travel Intention and Travel Behaviour in the Post-Pandemic Era: Evidence
from Vietnam
- Authors: Duong Tien Ha My, Tung Le Thanh
  Pages: 171 - 193
  Abstract: Tourism is on the pathway of returning and contributes to the economic development of many countries. Understanding the decision-making process of tourism customers in the post-pandemic context is crucial for a strong recovery of the tourism sector. The paper aims to identify the determinants of travel intention and the link between travel intention and travel behaviour in the post-COVID-19 pandemic period. A total number of 431 questionnaires regarding the individual behaviour of Vietnamese travellers were collected. The empirical results reveal that electronic word of mouth, crisis management, and destination image in COVID have positive relationships with travel intention. Besides, travel intention is positively linked with the customers’ travel behaviour during the post-pandemic era. By contrast, the results do not support the conclusion regarding the relationship between risk communication, the healthcare system, non-pharmaceutical interventions and the travel intention of customers. Finally, the practical implications are included for enhancing a faster recovery process of the tourism sector.
  PubDate: 2023-05-29
  DOI: 10.15388/omee.2023.18.87
  Issue No: Vol. 14, No. 1(27) (2023)
COVID-19 Vaccination and Fear Indices Impacting on Healthcare Stock
Indices Price in Southeast Asia during the Vaccination Rollout
- Authors: Matthew Jeremiah, Andreas Setiadi, Shinta Amalina Hazrati Havidz
  Pages: 194 - 213
  Abstract: This research aims to investigate the impact of COVID-19 vaccinations and fear indices on healthcare stock index prices in Southeast Asia during the vaccination rollout. The authors analyzed four Southeast Asian countries (i. e., Indonesia, Malaysia, Singapore, and Thailand) during the period of vaccination rollout by using daily weekday data from 1 March to 19 November 2021, with a total of 760 observations. The authors utilized Feasible Generalized Least Squares (FGLS) for the main methodology and incorporated Generalized Method of Moments (GMM) as the robustness check. The authors discovered three findings, including: (1) Increased number of people exploring news around vaccine doses created positive sentiments, while vaccine hesitancy revealed the opposite result; (2) Healthcare stock was found to be a defensive sector during the later period of the COVID-19 pandemic; (3) Many new investors arose during the pandemic, and it led to herding behavior thus, the investors’ decision-making was based on sentiment. It concludes that vaccine dose and hesitancy news can be utilized to manage investors’ portfolio investment in the healthcare sector. The government should disseminate more about the COVID-19 vaccination to citizens to prevent vaccine hesitancy. Investors could consider including healthcare stock in their portfolios to minimize risk during a pandemic. Citizens’ wise usage of social media and cooperation are needed to end the pandemic.
  PubDate: 2023-05-29
  DOI: 10.15388/omee.2023.14.88
  Issue No: Vol. 14, No. 1(27) (2023)