International Journal of Business, Economics and Management

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No. 3

The Effects of Visual Merchandising and Price Sensitivity on Impulse Purchase Behaviour among Young Apparel Shoppers in Bangladesh

Pages: 192-202
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The Effects of Visual Merchandising and Price Sensitivity on Impulse Purchase Behaviour among Young Apparel Shoppers in Bangladesh

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DOI: 10.18488/journal.62.2020.73.192.202

Md Wasiul Karim , Ahasanul Haque , Nurita Binti Juhdi , Md Muhibbullah , Mohammad Arije Ulfy

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Md Wasiul Karim , Ahasanul Haque , Nurita Binti Juhdi , Md Muhibbullah , Mohammad Arije Ulfy (2020). The Effects of Visual Merchandising and Price Sensitivity on Impulse Purchase Behaviour among Young Apparel Shoppers in Bangladesh. International Journal of Business, Economics and Management, 7(3): 192-202. DOI: 10.18488/journal.62.2020.73.192.202
The intense competition among apparel retail outlets in Bangladesh are on the rise. Due to the increasing number of these outlets, young consumers tend to differentiate the apparel products by visiting stores and compare prices with other outlets and end up with impulse purchase. The purpose of this study is to examine the relationship between visual merchandising, price sensitivity and impulse purchase behavior among young apparel shoppers. For this purpose, the sample of 305 young shoppers in Bangladesh completed the questionnaire. Stimulus Organism and Response (SOR) model was employed. The data were analyzed by deploying partial least squares structural equation modeling (PLS-SEM). By applying two-step approach for instance, measurement model for indicator loadings, convergent validity, reliability and structural model for path analysis, the result signifies that both visual merchandising and price sensitivity positively and significantly affects shoppers’ shopping enjoyment and impulse purchase behavior, which shoppers’ shopping enjoyment positively affects impulse purchase behavior. Results also found that shopping enjoyment mediates the relationship between visual merchandising, price sensitivity and impulse purchase behavior. The findings are useful for retailers to understand the essence of impulse purchasing behavior and factors, such as visual merchandising and price sensitivity, which can have great impact on impulse purchase behaviors among consumers.
Contribution/ Originality
The study contributes in the existing literature by employing external stimulus and organism of S-O-R model. Variables of this study are widely being exercised but limited to apparel product purchasing behavior in Bangladesh context.

Is Loyalty Still the Same? An Investigation of the Antecedents of Loyalty

Pages: 174-191
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Is Loyalty Still the Same? An Investigation of the Antecedents of Loyalty

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DOI: 10.18488/journal.62.2020.73.174.191

Eduardo Mesquita de Sousa , Evandro Luiz Lopes , Eliane Herrero , Luis Fernando Varotto

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Eduardo Mesquita de Sousa , Evandro Luiz Lopes , Eliane Herrero , Luis Fernando Varotto (2020). Is Loyalty Still the Same? An Investigation of the Antecedents of Loyalty. International Journal of Business, Economics and Management, 7(3): 174-191. DOI: 10.18488/journal.62.2020.73.174.191
In this study we aimed to investigate the effects of satisfaction, perceived value and value for money on the relationship between store attributes and loyalty. This research is based on an Indian study that presents controversial results on the theory of marketing, namely: value for money has a low and negative impact on loyalty and sales promotion does not influence the customer’s perception of value for money. This theory inspired our study which inserts two additional variables to the Indian model, for a better understanding of the results. The aim of this study was to investigate the background of consumer loyalty in conjunction with value for money, perceived value and retail satisfaction, in an emerging country: Brazil. To achieve the objective, a survey was conducted, answered by 516 retail customers in the city of São Paulo and the data were analyzed using Structural Equation Modeling (SEM). The results show that value for money, as well as satisfaction and perceived value, impacts loyalty. It was also found that all the retail attributes tested in this research contribute, in some way, to establishing loyalty of retail customers, even in a retail context of an emerging market (Brazil).
Contribution/ Originality
This study contributes to existing literature by investigating the effects of satisfaction, perceived value and value for money on the relationship between store attributes and loyalty.

Factors Influencing on Human Resources Development in SMEs Service Enterprises in Industry 4.0: The Case of Thai Nguyen Province, Vietnam

Pages: 166-173
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Factors Influencing on Human Resources Development in SMEs Service Enterprises in Industry 4.0: The Case of Thai Nguyen Province, Vietnam

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DOI: 10.18488/journal.62.2020.73.166.173

Phung Tran My Hanh

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Phung Tran My Hanh (2020). Factors Influencing on Human Resources Development in SMEs Service Enterprises in Industry 4.0: The Case of Thai Nguyen Province, Vietnam. International Journal of Business, Economics and Management, 7(3): 166-173. DOI: 10.18488/journal.62.2020.73.166.173
The study was conducted to analyze the factors and the level of influencing on human resource development for small and medium-sized service enterprises in Thai Nguyen province in Industry 4.0 because of artificial intelligence (AI) and the machines that make labor supply and labor fluctuations. With the dramatically changes of technology in the Industrial Revolution 4.0, jobs with creativity and flexibility, machines and robots cannot replace human resources. Employers will need high quality human resources, multi-disciplinary knowledge and flexible adaptations to changes in production methods in an era of technology. The research results show that there are 6 factors that positively influencing on human resource development for SMEs service enterprises in Thai Nguyen province in the Fourth Industrial Revolution.
Contribution/ Originality
This study contributes to the existing literature by identifying to what factors affecting on human resources development in SMEs service in Thai Nguyen province, Vietnam in Industry 4.0.

Critical Review of Literature on Brand Equity and Customer Loyalty

Pages: 146-165
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Critical Review of Literature on Brand Equity and Customer Loyalty

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DOI: 10.18488/journal.62.2020.73.146.165

Henry O. Kegoro , Munywoki Justus

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Henry O. Kegoro , Munywoki Justus (2020). Critical Review of Literature on Brand Equity and Customer Loyalty. International Journal of Business, Economics and Management, 7(3): 146-165. DOI: 10.18488/journal.62.2020.73.146.165
Brand equity is recognized as the driving force of customer loyalty in the competitive firms operating in the changing business environment. The culture of attracting and retaining customers is dependent on which organization can enhance the value of their products to conform and exceed customer needs. By extension, brand equity is regarded as a multi-dimensional facet that comprise of brand loyalty, brand awareness, brand association, perceived quality, brand association and proprietary assets. Theories and models which have been discussed extensively and inform the basis of arguments of this study include; brand equity theory, consumer utility theory, customer based brand equity model, service branding dominant logic model and brand evolution model. Despite conflicting ideologies and evolving nature of brand equity based on psychological aspects of consumers like attitudes and perceptions, it is noted that that there is a positive correlation between brand equity and customer loyalty. Based on the existing literature, it can be concluded that brand equity is the only strategic marketing initiative companies can enhance customer relations and sustainability. Therefore, it is recommended that companies should always strive to enhance their image in the mind of consumers by repositioning their brands in the market.
Contribution/ Originality
This study contributes to existing literature by developing the link between brand equity, company attributes, customer attributes and customer loyalty.

Does Capital Structure Affect the Profitability of Listed Family and Non-Family Firms? Evidence from Bangladesh

Pages: 131-145
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Does Capital Structure Affect the Profitability of Listed Family and Non-Family Firms? Evidence from Bangladesh

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DOI: 10.18488/journal.62.2020.73.131.145

Mohammad Rajon Meah , Nasir Uddin Chaudhory , Md. Ibrahim Khalil

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Mohammad Rajon Meah , Nasir Uddin Chaudhory , Md. Ibrahim Khalil (2020). Does Capital Structure Affect the Profitability of Listed Family and Non-Family Firms? Evidence from Bangladesh. International Journal of Business, Economics and Management, 7(3): 131-145. DOI: 10.18488/journal.62.2020.73.131.145
The aim of this study is to examine the impact of capital structure on firm performance. The proxy variables of capital structure are short-term debt ratio, long-term debt ratio and total debt ratio where firm performance is measured by return on assets (ROA) of Dhaka Stock Exchange (DSE) listed 39 family firms and 39 non-family firms. Based on a paired match sample selection procedure, 390 firm-years covering the period of 2013 to 2017 are used as the final sample of this study. By extrapolating from the Pooled Ordinary Least Square (OLS) regressions results, it is found that leverage ratios are significantly and negatively associated with the firm’s profitability. It is also found that family firms are highly influenced by debt financing than non-family firms. Finally, this study disagrees with the trade-off theory but agrees with the pecking order theory that profitable firms depend more on equity than debt as their key financing option in Bangladesh.
Contribution/ Originality
This study contributes to the existing literature by identifying to what extent – and if – the firm performance of Bangladeshi listed family and non-family firms are influenced by capital structure between 2013 and 2017.