Khulna University Business Review (KUBR) is an annual peer-reviewed journal published by the Business Administration Discipline of Khulna University, Bangladesh, covering business, management, economics, and related disciplines with a focus on developing economies.
Business Administration Discipline, Khulna University
Articles published at the Business Review are made freely available online immediately upon publication, without subscription barriers to access. Authors who choose to participate in such initiative and pay to have their paper freely available online will be asked to sign an open access licence agreement.
Factors Influencing Consumer Perception of Mobile Financial Services: A Case Study of bKash Among University Students
This study explores the core factors shaping consumer perceptions of mobile financial services (MFS), focusing specifically on bKash users among university students in Dhaka city. Using a quantitative research design, the research examines the influence of perceived value, brand trust, ease of use, security of transaction, affordability, and customer engagement on overall consumer perception. Primary data was collected from 280 respondents using a structured survey and analyzed via multiple linear regression. Findings shows the brand trust, perceived value, and ease of use significantly and positively influence consumer perception. Conversely, security, affordability, and customer engagement showed no statistically significant impact within this demographic. The study concludes that for tech-savvy, younger demographics, MFS providers must prioritize building intrinsic brand trust and delivering seamless, value-driven user experiences to create a positive perception towards the brand.
Copyright (c) 2025 Khulna University Business Review https://creativecommons.org/licenses/by/4.0/
An Empirical Analysis of the Effect of the Foreign Direct Investment and Exchange Rate on the Stock Market of Bangladesh
Purpose: This study aims to analyze the impact of the selected macroeconomic variables, Foreign Direct Investment (FDI) and Exchange Rate (ER), on the stock market of Bangladesh. Methodology: Different models from econometric theory—such as multivariate regression analysis, the Granger causality test, the Johansen cointegration test, and the Vector Error Correction (VEC) model—were conducted to answer the research questions. Using the application software EViews 11, time-series data covering the selected variables from 1993 to 2019 were analyzed. Findings: Empirical evidence from the study proves the existence of a significant causal link from the stock market toward FDI but does not indicate any significant causality with the Exchange Rate in the context of Bangladesh. Limitations: Findings of the study need to be interpreted cautiously, as the joint impact of the selected macroeconomic variables on the stock market of Bangladesh yielded an inconclusive remark. Originality/value: The contribution of this paper reflects on addressing the research gap regarding the simultaneous long-run and short-run behavior of the stock market, FDI, and ER from the perspective of Bangladesh.
Copyright (c) 2020 Khulna University Business Review https://creativecommons.org/licenses/by/4.0/
Institutional Quality and Real Sector Economy: Evidence from Belt and Road Economies
Purpose: The aim of this study is to investigate the role of institutional quality (IQ) in developing the real sector economy of a country. Rationale of the study: Institutional quality (IQ) works as a trust symbol for the entire socio-economic culture of a nation. If an economy achieves high trust from domestic and cross-border investors and business entrepreneurs—in terms of citizen security, investor rights protection, a rational and straightforward bureaucratic system, fewer internal and border tensions, and a shared willingness to follow law and order—they are more likely to select that country as their investment destination. Based upon these theoretical assertions, this study examines the relationship under consideration. Methodology: This study considers data from 79 Belt and Road Initiative (BRI) partner countries over the 1999–2019 period. The study utilizes Principal Component Analysis (PCA) to combine each set of indicators into one while capturing the maximum variance of the data. The dependent variable in this research is economic growth, measured by GDP at constant prices. The model controls for FDI, financial development, human capital, inflation, domestic investment, trade openness, infrastructure, and population. Finally, the study deploys pooled OLS, fixed-effect, and random-effect modeling to reveal the relationship. Findings: The research finds that IQ has a highly positive and significant effect on the economic growth of a country, especially in the BRI partner countries. A highly significant coefficient of 0.156 (p<0.01) is found for the IQ variable when considering the combined index of six different IQ indicators. Moreover, each of the six IQ indicators is analyzed separately to check the robustness of the study, and all indicators exhibit highly significant and positive coefficients. Additionally, using alternative methodologies, the results are found to be consistent and robust in terms of both sign and significance. Originality: This research pioneers the investigation into the impacts of IQ on economic growth, specifically for the BRI country groups. It conducts a detailed analysis utilizing World Governance Indicators and political risk indicators as alternative IQ measures. Moreover, it combines each set of IQ measures into a single index utilizing PCA, which establishes a comprehensive consideration of all IQ measures.
An Empirical Study on Microeconomic Factors Affecting Stock Price: A Study on Insurance Companies Listed in Dhaka Stock Exchange
Purpose: This study aims to reveal the financial factors responsible for the movement of the market stock price of insurance companies listed on the Dhaka Stock Exchange. Design/methodology/approach: For this purpose, ten years of panel data from 2010 to 2019 covering 15 insurance companies have been analyzed. Hypotheses have been developed and tested using econometric modeling techniques such as Pooled OLS regression, the Fixed-effect model, and the Random-effect model. The independent variables for this study are Return on Assets (ROA), Book Value Per Share (BVPS), Earnings Per Share (EPS), Price-Earnings (P/E) ratio, and Firm Size (SZ). Findings: The output of pooled OLS shows that ROA, BVPS, EPS, and the P/E ratio have significant positive impacts on the market stock price. The Fixed-effect model shows that ROA and the P/E ratio have significant positive impacts, whereas firm size negatively impacts the market stock price. Practical implications: The findings of the study will be helpful for shareholders investing in the insurance sector to monitor which factors are responsible for driving stock prices. It will also be helpful for regulators and other relevant stakeholders to monitor the stock market to ensure the sustainable growth of the capital market. Research limitations: The study only covers fifteen insurance companies listed on the Dhaka Stock Exchange over a ten-year period. Originality/value: This study is one of the earliest attempts to explore the insurance industry to identify which key factors are primarily responsible for insurance companies' share prices in recent times on the Dhaka Stock Exchange.
Do guidelines grind throughout crisis? Services Blueprint on Hotel Business in Bangladesh during Covid-19 Pandemic
Purpose: Hotels services or businesses tremendously affected by COVID-19 pandemic. Thisstudy would provide the strategies such as services blueprint guidelines regarding services standard activities, hoteliers managerial decisions as well as future initiative-based yardstick. Methodology: Qualitative research along with thematic analysis is used, and 10 local hoteliers and 10 chain hoteliers were acquired for depth interview data collection for this study. Findings: The outcome of the research is the amalgamation of hotel services adaptations with crisis and updated activities during any pandemic or crisis. This paper suggests that hotel authorities have to adapt well thought standards what are evidenced based scientific dimensions. At the same hoteliers are recommended to put extra exertions and carefulness regarding services innovation, customers (guests) experiences and enhancing welcoming assertiveness but contactless or minimum contact during Pandemic or any crisis situations. Originality: This research provides an authentic theoretical contribution during Pandemic situation towards hotels services industry as well as adequate managerial implications provided not only for Bangladesh but also for overall the world. I am working with a website I have to make abstract look like this can you format every abstract like this one and give it in copyable format so I copy and paste
Adoption of E-Technology in Small and Medium Enterprises (SMEs) - A Study in Khulna City of Bangladesh
Purpose: Small and medium enterprises (SMEs) are considered as the engine of economic growth throughout the world. To cope with the challenges of technological advancement and globalization, SMEs need to be conversant with internet based technology. This study aimed at identifying the level of e-technology adoption by the SMEs of Khulna city, attitudes of SME owners towards e-technology, and major impediments in such technology adoption. Methodology: Opinion of 100 conveniently selected sample of SME owners were collected and analyzed using percentage, mean, factor analysis, regression analysis etc. to reach to study findings. Findings: The level of e-technology adoption was found to be very low among the SMEs and the SME owners' attitudes toward such technology adoption were also negative in most cases. Among the major impediments, inadequate proficiency of SME owners, less supportive external agents, legal and security barriers, lack of knowledge, insufficient network structure, and financial constraints were found to influence the low rate of e-technology adoption by SMEs in Khulna city.
Copyright (c) 2015 Khulna University Business Review https://creativecommons.org/licenses/by/4.0/
Factors Affecting the Foreign Currency Reserves in Bangladesh:An Empirical Study
Background: Foreign currency reserves are a crucial determinant of growth and stability in Bangladesh, where domestic fiscal and monetary policies have offset trade deficits. This study attempts to examine the macroeconomic factors determining reserve accumulation, focusing on their significance in preventing vulnerabilities. Research Questions: Specifically, the study analyzes the key macroeconomic variables (exports, imports, remittances, external debt, FDI, HDI, GDP, and savings) that have a significant positive or negative effect on the foreign currency reserve of Bangladesh. What are the key factors that determine the foreign currency reserve in Bangladesh? What is the direction, magnitude, and significance of the relationships? And in response to trade deficits and development needs, can they promote economic stability through reserves as influenced by remittances and imports? Theoretical context: Foreign currency reserves are the backbone of Bangladesh’s economic stability, as they mitigate the trade deficit and shocks. Precautionary motive theory captures reserves accumulation as a hedge against crises, complemented by remittances and FDI. Methodology: Based on secondary data sourced from the World Bank and UNDP from the year 1990 to 2022, this quantitative research considers foreign currency reserves as the dependent variable and regresses the independent variables (exports, imports, remittances, external debt, FDI, savings, HDI, and GDP) using Stata. Analysis includes bivariate and multiple regression, ADF unit root test, Johansen cointegration, and diagnostic tests for robustness. Key Findings: Reserves are positively driven by exports, GDP, remittances, and external debt (all p<0.01), and are depleted by imports, FDI, and HDI (p<0.001). The model explains 97.4% variance (R²=0.974) and guides the policy for enhancing export growth, curbing imports, and achieving balanced development.
The Impact of Hard and Soft Ethnocentrism on Consumer Purchase Intentions: Moderating Role of Country-of-OriginImage
Purpose– This study investigates the distinct effects of hard ethnocentrism (HET) and soft ethnocentrism (SET) on consumer purchase intentions (PIN) toward foreign products, with a focus on the moderating role of country of origin (COO) image. The study proposes that HET negatively impacts PIN, while SET may positively influence it. Design/Methodology/Approach– A structured questionnaire was administered to 304 Bangladeshi consumers using convenience sampling. Constructs were measured using scales supported by existing literature and analyzed with Partial Least Squares Structural Equation Modeling (PLS-SEM). Findings– Results confirm that HET significantly decreases PIN, whereas SET enhances it. Furthermore, a favorable COO image has a strong positive effect on PIN and moderates the impact of both HET and SET—weakening HET’s negative influence and amplifying SET’s positive effect. Research Implications– The study offers theoretical advancements by distinguishing between HET and SET and reinforces COO’s role in shaping consumer buying behavior. Originality/Value– The research introduces an original distinction between hard and soft ethnocentrism, demonstrating their differential impacts on purchase intentions in Bangladesh, with country of origin as a key moderator, offering valuable theoretical and practical insights for consumer behavior in emerging markets.
More Than a Paycheck: How CSR Perceptions Drive Employer Appeal Among Job Seekers
Purpose: This study examines how different types of CSR perceptions—instrumental, normative, and positive CSR perceptions, as well as self-perceived CSR engagement— affect employer attractiveness among potential job applicants. Methodology: The study utilized a quantitative research design, and primary data was collected through a self-administered questionnaire from final-year undergraduate and postgraduate students at public universities in Bangladesh. Method A total of 200 valid responses was obtained via non-probability purposive sampling, which allowed for the analysis of the associations between the independent variables and employer attractiveness. Findings: The instrumental CSR perception, the normative CSR perception, the positive CSR perception, and the individual engagement with CSR are recognized to meet the employer attractiveness effect significantly. This highlights the importance of CSR concerning future employers from potential employees. Originality: The present study contributes to the literature by offering novel evidence of the relationship between CSR perceptions and employer attractiveness in the context of Bangladesh University students. It broadens the scope of signaling theory in HRM by marketing CSR as information that can be a signal for talent attraction. Practical Implication: It can help organizations effectively market their CSR initiatives to strengthen their employer branding strategy. Improving communication regarding CSR activities and increasing employee involvement in these activities can significantly enhance the ability of the companies to attract and retain potential talent.
Copyright (c) 2024 Khulna University Business Review https://creativecommons.org/licenses/by/4.0/
Exploring the Effect of Digital Leadership, Employee Engagementand Organizational Commitment on Employee Performance: An Investigation in Bangladesh
Purpose: Industry 4.0 brings many changes to organizations, impacting leadership, culture, strategy, employee behavior, technology, and organizational performance. This research aims to explore the effect of digital leadership (DL) on employee performance (EP), with mediating effects of employee engagement (EE) and organizational commitment (OC). Methodology: The researchers have used 239 samples from various establishments in Bangladesh, with SPSS 23 and AMOS 24 used for analysis. Findings: The findings demonstrate that DL has direct and indirect effect on EP, while EE positively influences EP; however, OC does not have substantial effect on EP. Additionally, EE partially mediates, and OC do not have substantial mediation effect between DL and EP. While double mediation path analysis shows a significant mediation effect from the path of DL to organizational commitment to employee engagement to EP. Implications: This result infers that organizational commitment alone cannot increase performance; it also requires employee engagement. This examination contributes to the existing leadership and resource-based view theories in such a way that DL leaders are playing a key role in enhancing EP. The digitalized environment is substantially influencing the association between DL, EE, and EP in developing countries.
Economic and Environmental Impact of IoT in the Energy Sector: A Study on Commercial and Residential Buildings in Bangladesh
Purpose—In Bangladesh, where both commercial and residential buildings contribute significantly to energy demand, IoT solutions are gaining popularity. The study aims to determine the economic and environmental impact of the Internet of Things (IoT) in Bangladesh's energy sector. Design/Methodology/Approach—This study employs an experimental research design, collecting data through observations and experiments in a specific office building setting between March and October 2019. Findings – In March 2019, total electricity consumption was 231.73 kWh in four different upazilas of Khulna district, with the AC set to 20°C. Setting the AC to 24°C or 25°C can save 20- 30% of energy, saving approximately 664 kWh from March to October. With 80% AC demand, the total energy saved amounts to 107,342,800 kWh, reducing about 129,885 tons of CO2 emissions. Research Implications—The study enhances the understanding of IoT's role in optimizing energy use and reducing CO2 emissions in property management. Practical Implications—This study offers useful insights into adopting IoT to improve energy efficiency, lower costs, and promote sustainability. Originality/Value – This research uniquely addresses IoT's impact on energy management in Bangladesh, highlighting its economic and environmental benefits.
Factors Influencing Professionals to Pursue an MBA Degree: An Empirical Analysis in the Context of Bangladesh
Purpose: The purpose of this study is to identify the reasons that motivate professionals to pursue an MBA. Methodology: This study followed a convergent parallel design under the framework of mixed methods. The population for this study consists of alumni and current professional students enrolled in the evening MBA programs at public universities in Bangladesh. The questionnaire survey yielded 390 valid responses, and four focus group interviews were conducted with current professional students enrolled in the evening MBA programs to address the issue. Findings: The top reasons for professionals pursuing an MBA degree include the development of managerial knowledge and skills, career advancement, enhanced leadership skills, staying competitive in the job market, and opportunities for promotion and increased income. Implications: The results have the potential to increase the understanding of prospective students about the reasons for pursuing an MBA and could enhance the faculty and business schools’ capacity to cater to their needs and aspirations. Originality/Value: Many professionals in Bangladesh express interest in pursuing an MBA degree, but the reasons behind this motivation are still unknown. Therefore, this study aims to address the knowledge gap in this area.
Examining the impacts of e service quality on social shopping intention: A developing country perspective
Social shopping is a fast-growing trend due to the development of Web 2.0. Nowadays the integration of e-commerce with social media has become increasingly popular worldwide. The flexibility of social shopping is an evolving phenomenon among consumers, particularly the young generation. Customer perception towards the quality of e-services has a significant influence on the goodwill of a company. Considering service quality, this research sought to understand the influence of perceived usefulness and ease of use on social shopping intention. We used the structural equation model to examine survey data from 304 online social media shoppers. The results depict that different aspects of the e-service quality affect the perceived ease of use, except the relationship between assurance and perceived ease of use. Several aspects of an e-service quality affect the relationship between reliability and perceived usefulness. Furthermore, the findings show that perceived usefulness and ease of use favorably and significantly affect social shopping intention. This research adds to what is already known about social shopping by showing how high-quality e-services affect the likelihood of making a social shopping. Furthermore, findings suggest that the perceived utility and user-friendliness of an electronic service affect the relationship between the service’s quality and the intention to shop from social platforms. The study’s findings and suggestions might provide crucial insights for management and inform future research endeavors.
Copyright (c) 2023 Khulna University Business Review https://creativecommons.org/licenses/by/4.0/
Factors Influencing Adoption of Mobile Banking Services in Bangladesh in Post-COVID-19 Context
Purpose: This study presents a brief scenario of the current state of mobile banking services adoption in Bangladesh by identifying the factors that affect customers’ adoption of mobile banking services in the post-COVID-19 pandemic context. Design/Methodology/Approach: This study applied a mixed-method approach, where a quantitative survey followed a qualitative study to develop the conceptual framework. Using a convenience sampling method, a structured questionnaire was used to collect data from 250 respondents regarding mobile banking services adoption in Rangpur, Bangladesh. Multiple regressions were used to test the hypothesized relationships. Findings: Findings revealed that perceived usefulness, perceived trust, social distancing, and social influence significantly influence mobile banking services adoption in the COVID-19 context. Implications: The government is planning to spread government’s disbursement of numerous social security aids, grants, and allowances through mobile banking to transact all sorts of money to build up a smart Bangladesh by 2040. Hence, this study has implications for the government and mobile banking service providers. Originality/Value: The researcher extends theoretical reasoning from TAM and UTAUT by adding social distancing from the COVID-19 perspective in the Bangladesh context for the first time.
Estimating the Drivers of Urban Apartment Valuation by Using Hedonic Pricing Models: A Study on Dhaka City
Considering the population and land scarcity of Dhaka city, understanding the accommodation preferences as per the price has become a complex issue. This study has tried to investigate the drivers that shape the valuation of apartments in Dhaka city. To do that, Numerous articles have been studied and the number of bedrooms, bathrooms, balconies, apartment size, land price, the proximity of the city center and green spaces are considered as the predictors. A structured questionnaire was generated and data were obtained from a convenience sample of 265 consumers living in various locations of Dhaka city. The Multiple Regression Analysis was performed to test the research hypotheses where the apartment size, land price, and proximity to green spaces were found as the key predictors and the rest were found to be insignificant. Guidelines for the stakeholders were also provided as per the research outputs. Finally, the limitations of the research and future research avenues have been discussed.
The Virtuous Economic Growth Cycle:An Empirical Evidence based on Developing - 8 Countries
Purpose: The study aims to explore the factors shaping the pace of economic growth in countries, particularly in the context of Developing-8 (D-8) countries. The study seeks to address the ongoing discussion about the direction of causality between savings and economic growth, drawing parallels with the classic “egg or chicken first” question. Methodology: Analyzing established growth models like Harrold-Domar and Solow, the research examines the intricate relationships among savings, labor, and growth in D-8 nations. Employing techniques such as Unit Root Test, Optimal Lag Length Selection criteria, Multicollinearity Test, Cointegration Test, Granger Causality Test, Impulse Response Function, and Variance Decomposition, the study uncovers the hidden patterns of interaction. Findings: Contrary to the unidirectional causality proposed by earlier growth models, the study finds a more complex relationship among savings, labor, and economic growth in D-8 countries. Instead of a straightforward causal link, the study observes the presence of a “positive feedback loop” referred to as the “virtuous cycle.” This implies that in these economies, both economic growth (GDP) can drive savings and increased savings can foster economic growth. Practical Implications: The findings overturn conventional wisdom, emphasizing a more intricate, interdependent relationship. This revelation carries vital implications for comprehensive economic strategies within D-8 countries, underlining the necessity of a holistic approach that integrates both saving and growth factors for sustainable economic advancement. Value/Originality: The study’s uniqueness stems from its exploration of the savings-growth interplay in the context of D-8 countries. By introducing the novel concept of a positive feedback loop, it adds a fresh dimension to ongoing debates and significantly enriches the comprehension of economic dynamics. This perspective offers an exclusive standpoint for policy makers, researchers, and economists to consider when formulating effective developmental strategies.
Unlocking the Power of Health Safety and Welfare Practices:Exploring the Impact on Organizational Citizenship Behavior inBangladesh’s Fish Processing Industry
Purpose: This study explores the relationship between Occupational Health and Safety (OHS) practices and Organizational Citizenship Behavior (OCB) among fish processing workers in Bangladesh. It seeks to understand how OHS practices impact employees’ voluntary, extra-role behaviors and contribute to organizational well-being. Methods/Design/Approach: A cross-sectional survey was conducted among a sample of fish processing workers in Bangladesh. Data were collected using structured questionnaires that assessed vital variables, including OHS practices, OCB, and demographic information. Statistical analyses, including correlation and multiple regression, were employed through SPSS to examine the associations between OHS practices and OCB. Findings: The findings of this study reveal several significant relationships; notably, health and safety policies and communication, health and safety rules, health and safety resource and training, and workplace welfare management were essential predictors of organizational citizenship behavior, highlighting the critical role of these organization health safety practices in fostering positive organizational citizenship behavior. Practical Implications: These findings hold valuable practical implications for organizations in the fish processing industry and beyond. Organizations can enhance their workplace safety policies, regulations, and training programs by recognizing the positive impact of OHS practices on OCB. Additionally, investing in workplace welfare measures can promote a culture of voluntary contributions to the organization, ultimately benefiting employees and employers. Originality: This study contributes to the literature by shedding light on the relationship between OHS practices and OCB in a specific and underexplored context: the fish processing industry in Bangladesh. It underscores the significance of OHS practices in driving positive workplace behaviors and organizational outcomes, enriching the body of knowledge on this subject
Investigating the Link between Education and Labor Market Dynamics: The Case of Bangladesh
With a substantive impact on almost all facets of human life, education remains a central issue in development policies. Likewise, the role of education in labor market outcomes has largely been debated and discussed since the last few decades. The case is more relevant for developing countries, where consistent economic growth requires an effective labor market equipped with an educated and skilled labor force. In addition to giving particular focus to policy considerations, this study investigates how differences in educational attainment are linked to labor market outcomes in Bangladesh. A critical analysis of relevant documents and the latest statistical facts has revealed that education has a direct impact on labor market participation, occupational segregation, and wage differentials in Bangladesh’s labor economy. And also, this impact is persistently prevalent across age, sex, and regions. Several policy options are put forward in order to develop a better-educated labor force in Bangladesh’s labor market, resulting in increased labor productivity, higher earnings, and quality employment. This study is one of many focusing on the link between education and labor market outcomes in Bangladesh, and thus the study is expected to contribute to the existing labor market research to a large extent. Policymakers, labor economists, researchers, and academics will largely benefit from this study.
Copyright (c) 2022 Khulna University Business Review https://creativecommons.org/licenses/by/4.0/
Corporate Characteristics and Sustainability Disclosure in Bangladesh: An Analytical Study Based on Global Reporting Initiative Guideline 4
Purpose – The purpose of the research is to examine the level of compliance of sustainability disclosure as per GRI G4 framework and the influence of corporate characteristics on sustainability disclosure of listed companies in Bangladesh. Design/methodology/approach – A sample of 175 listed companies drawn from the Dhaka Stock Exchange (DSE) listed companies using purposive sampling from different categories and data collected from the annual reports of 2018 through content analysis. The hypotheses were tested using ordinary least square regression (OLS). Findings – Statistical results witness that the sustainability disclosure index (SDI) is inferior (12.19) with a high deviation (SD 9.61). This study also documents that industry membership, ISO certification, multi-nationality, and board size are positively associated with sustainability disclosure at a five per cent level. Still, the company category is negatively associated with sustainability disclosure at a six per cent level. This paper also found that sustainability disclosure is not likely to be significantly influenced by age, profitability, and leverage. Research limitations/implications – The research used content analysis to measure quantity ignoring the quality of sustainability disclosure based on GRI G4 guidelines from the company’s only one-year published annual report. Practical implications – The research adds value to the sustainability disclosure literature and provides a message to the policy planners and practising authorities. Originality/value – This is one of the pioneer studies using GRI G4 guidelines to measure the extent of sustainability disclosure and examine the influence of corporate characteristics on sustainability reporting in Bangladesh, considered a developing nation with an emerging economy.
Sustainable Development of the Tourism Industry in Bangladesh: An Empirical Study
Purpose: The purpose of this study is to investigate the roles of Government Agents in maintaining Industrial Relations in the Ready-made Garment (RMG) industry of Bangladesh. Methods: This is a cross-sectional study using a qualitative approach and interpretative paradigm. A total of 23 face-to-face in-depth interviews were performed using the convenience sampling technique. A semi-structured interview with open-ended questions was used in this analysis. The process of data analysis for this study was performed using content analysis. Findings: From this study, it is revealed that Government Agents play their roles as umpires, conciliators, arbitrators, and administrators in industrial relations. They act in the system of industrial relations as both a planner and an administrator as well the play predominant roles in various tripartite bodies. Implications: This study contributes to the literature on industrial relations particularly in the RMG sector of Bangladesh. The findings of the study will encourage the stakeholders of the sector towards putting their trust in the roles of government agents, and consequently, the stakeholders involved will come forward to establish the rights of workers, make workers aware of their rights, ensure collective bargaining and labor welfare, and maintain better employer-employee relations. Limitations: This study will have use combine qualitative methods with quantitative methods to have more reliability and realization of the sought problem could be obtained precisely. Moreover, the results of this study might not explain the same problem from a different perspective even in the same industry in a different economy as well the conclusions reached in the study may not have universal application. Originality: This research will be the first-ever effort in Bangladesh to investigate the roles of the government agents towards the parties of industrial relations in the RMG industry of Bangladesh.
Roles of Government Agents in Industrial Relations in Ready-Made Garment Industry of Bangladesh: A Qualitative Approach
Does Insurance Promote Economic Development? Evidence from Bangladesh
Purpose: The study strives to explore whether insurance companies contributes to the economic development of Bangladesh. Methodology: To achieve the objective, this study employed time series data for the period of 1984-2021. FMOLS and DOLS analysis techniques along with granger causality test have been employed to investigate whether insurance can contribute to economic development. Findings: This study found that insurance sector induces economic development of Bangladesh. Findings also indicate that gross capital formation, trades openness, and total debt have statistically significant positive impact while real interest rate, exchange rate, and population growth have significant negative effects on economic growth. Granger causality test reveals bidirectional causal affiliation between insurance and economic development. Practical Implications: Findings of this research suggests that policy-makers and governments should make efforts to increase, encourage, and ensure the services to insurance policyholders which will lead to better financial performance of insurance industry that in turn will promote economic development of the country. Originality/Value: This study explored the positive impacts of insurance industry on the economic development. No in-depth study was conducted in Bangladesh, particularly on exploring the positive effects of insurance industry.
Impact of Firm's Leverage on Financial Performance: Evidence from the Pharmaceuticals Industry of Bangladesh
Purpose: The objective of this study is to study the connection between leverage and the financial performance of DSE-listed pharmaceutical firms in Bangladesh. Design/Methodology/Approach: The data of six firms for the period 2001 to 2020 was analyzed using panel econometric analysis techniques, namely the feasible generalized least square (FGLS) regression model. Findings: The empirical findings show that long-term debt (LTD) has a significant negative impact on both indicators of the firm’s financial performance—return on capital employed (ROCE) and return on equity (ROE). The control variables GROWTH and AGE are positively related to ROCE and ROE; however, the firm’s SIZE is negatively connected to the firm’s financial performance. Practical Implications: These findings suggest that the degree of leverage significantly impacts the firm’s financial performance. As a consequence, while constructing the capital structure, corporate managers should carefully control the debt level—both short- and long-term. Originality/Value: This is the original work done by the researchers which adds value to existing knowledge in corporate finance. Research Limitations: This analysis was conducted using only secondary data and a sample of six DSE-listed companies over twenty years.
Factors of Digital Content Marketing to Differentiate the Consumer Preferences in Pharmaceutical Sector
Purpose: The objective of the paper is to determine the different factors of Digital Content Marketing (DCM) and recognize their impact on customer preferences in pharmaceutical sector. Design/Methodology/Approach: Drug buyers of three different regions (Gulshan, Mirpur and Kamrangirchar) have been surveyed in Dhaka city. A stratified sampling method was used to determine a sample of 168 respondents. A multiple discrimination analysis was undertaken to verify the hypotheses. Findings: The research reflects the theoretical concept, and suggests that website traffic, two-way communication, trust and online medication are the valuable factors to classify the cases into different groups for achieving the preferences of DCM in the pharmaceutical sector. Research Implications: Many customers are focused on DCM in terms of awareness and information though they are less sensitive to DCM. They do not like to consider DCM as a unique method to increase website traffic. Originality/Value: It is valuable for achieving useful trust of customers in pharmaceutical sector through interactive communication and website traffic.
Supply chain analysis of organic vegetable export from Bangladesh: Is contract farming a feasible solution?
Purpose: This study attempted to find out whether the contract farming procedure in practice is capable of eradicating the hindrances in vegetable export and make Bangladesh a competitive performer in international market of fresh vegetables. Methodology: Qualitative method was used to serve this purpose. The study is exploratory in nature. Data was collected from Solidaridad enlisted organic vegetable farmers, middleman and external facilitators through personal interview and focus group discussion. Findings: Contract farming can be a feasible solution to increase vegetable export from Bangladesh as it eradicates many problems of traditional supply chain and at the same time maintains proper quality for export. To make this supply chain more effective government should provide financial, legal and technical support to farmers. Implications: The study may help government and policy makers to have better understanding of this particular supply chain and enable them to introduce more effective policies for the betterment of the industry. Originality/Value: Solidaridad is working with Bangladesh Government to introduce contract farming to local farmers and exporters and build a national framework to enhance international market share of Bangladeshi fruits and vegetables. No prior research had been conducted to measure the effectiveness of this contract based supply chain in Banglasdeh.
Copyright (c) 2021 Khulna University Business Review https://creativecommons.org/licenses/by/4.0/
Purpose: This study aims to analyze the impact of the selected macroeconomic variables Foreign direct investment (FDI) and Exchange rate (ER) on the stock market of Bangladesh. Methodology: Different models such as, the multivariate regression analysis, Granger causality test, Johansen cointegration test, Vector error correction (VEC) model from the econometric theory were conducted to answer the research questions of the study. Using the application software EViews 11, data had been analyzed where data covered the time series for the selected variables from 1993 to 2019. Findings: Empirical evidence of the study leads to prove the existence of a significant causal link from the stock market toward FDI but does not indicate any significant causality with the Exchange Rate in terms of the scenario of Bangladesh. Limitations: Findings of the study need to be interpreted cautiously since the the joint impact of the selected macroeconomic variables on the stock market in light of Bangladesh attributed an inconclusive remark. Originality/Value: Contribution of the paper reflects on the addressing of the research gap regarding the behaviour of the stock market, FDI, and ER simultaneously both in the long and short run from the perspective of Bangladesh.
Purpose: The aim of this study is to investigate the role of institutional quality (IQ) in developing the real sector economy of a country. Rationale: The IQ works as a trust symbol for the whole socio-economic culture of the nation. It is reasonable to believe that if an economy achieves high trust from domestic and cross-border investors and business entrepreneurs, in terms of security of common citizens, investors’ rights protection, a rational and easygoing bureaucratic system, fewer inland and border tensions, and a culture of citizens’ willingness to follow the law and order, they will be more likely to select the country as their investment destination. Based upon the theoretical assertions, this study examines the relationship under consideration. Methodology: This study considers data from 79 Belt and Road Initiative (BRI) partner countries over the 1999–2019 period. Additionally, the study utilizes principal component analysis (PCA) to combine each set of indicators into one while capturing the maximum variance of the data. The dependent variable in this research is economic growth, which is measured by GDP at constant prices. We also controlled for FDI, financial development, human capital, inflation, and domestic investment. Trade openness, infrastructure, and population. Finally, the study deploys pooled OLS and fixed and random effect modelling to reveal the relationship. Findings: The research finds that IQ has a highly positive and significant effect on the economic growth of a country, especially in the BRI partner countries. We find a highly significant coefficient of the IQ variable on economic growth of 0.156 (p<0.01), while we consider the combined index of six different IQ indicators. Moreover, we consider each of the six IQ indicators separately to check the robustness of the study, and we find all of the indicators to have highly significant and positive coefficients. In addition, with alternative methodologies, the results are found to be consistent and robust in terms of sign and significance. Originality/Value: The research pioneers the investigations about the impacts of IQ on economic growth, especially for the BRI country groups. It conducts a detailed analysis utilizing world governance indicators and political risk indicators as alternative IQ measures. Moreover, it combines each set of IQ measures into one single index utilizing PCA, which establishes the consideration of all IQ measures.
Purpose: This study aims to reveal the financial factors responsible for the movement of the market stock price of insurance companies enlisted in the Dhaka Stock Exchange. Methodology: For this purpose, ten years of panel data covering from 2010 to 2019 of 15 insurance companies have been analyzed. Hypotheses have been developed and tested using econometric modeling techniques such as Pooled OLS regression and the Random-effect and Fixed-effect model. The independent variables for this study are Return on Assets (ROA), Book Value Per Share (BVPS), Earnings Per Share (EPS), Price-Earnings ratio (P/E), and Firm’s Size (SZ). Findings: The output of pooled OLS shows that ROA, BVPS, EPS, and P/E ratio have significant positive impacts on the market stock price. The Fixed-effect model shows that ROA and P/E ratio has significant positive impacts where firms’ size negatively impacts the market stock price. Practical Implications: The findings of the study will be helpful for the shareholders investing in the insurance sector to monitor what factors are responsible for thriving stock prices. It will also be helpful for the regulators and other relevant stakeholders to monitor the stock market for ensuring sustainable growth of the capital market. Research Limitations: The study only covers fifteen insurance companies enlisted in the Dhaka Stock market for ten years. Originality/Value: This study is one of the earliest attempts to explore the insurance industry to identify what key factors are greatly responsible for the insurance companies’ share prices in recent times in the Dhaka Stock Exchange.
Purpose: Hotels services or businesses tremendously affected by COVID-19 pandemic. This study would provide the strategies such as services blueprint guidelines regarding services standard activities, hoteliers managerial decisions as well as future initiative-based yardstick. Methodology: Qualitative research along with thematic analysis is used, and 10 local hoteliers and 10 chain hoteliers were acquired for depth interview data collection for this study. Findings: The outcome of the research is the amalgamation of hotel services adaptations with crisis and updated activities during any pandemic or crisis. This paper suggests that hotel authorities have to adapt well thought standards what are evidenced based scientific dimensions. At the same hoteliers are recommended to put extra exertions and carefulness regarding services innovation, customers (guests) experiences and enhancing welcoming assertiveness but contactless or minimum contact during Pandemic or any crisis situations. Originality/Value: This research provides an authentic theoretical contribution during Pandemic situation towards hotels services industry as well as adequate managerial implications provided not only for Bangladesh but also for overall the world.
Keith Davis’s Human Relations Theory could create Human Relations to reach Sound Industrial Relations (SIRs) in the Garment Sector of Bangladesh
Purpose: In this study, an attempt has been made to analyze the prospect of Keith Davis’s Human Relations Theory in developing and maintaining SIRs in the garment sector of Bangladesh. Methodology: A review of the available literature on the Garment sector in Bangladesh revealed that there are frequent industrial unrests in Bangladesh Garment Sector. Still, none of the industrial relations theories can play a role in developing and maintaining SIRs in Bangladesh’s garment sector. This condition has enthused the authors to develop a conceptual framework based on Keith Davis Human Relations Theory to create Human relations to reach SIRs in the Garment sector of Bangladesh. Findings: The study provides a conceptual framework mainly based on Keith Davis’s Human Relations Theory which can create human relations to reach SIRs in the garment sector of Bangladesh. Furthermore, the Keith Davis’s Human Relations Theory can be considered as the avenue to cover the unitary approach’s view and the views of Dunlop System theory, pluralistic theory and social action theory. Research Limitations: The researchers developed a conceptual framework based on Keith Davis’s Human Relations Theory to develop and maintain SIRs in the garment sector of Bangladesh but its empirical study is yet to be conducted. Originality/Value: The current state of labor relations in Bangladesh’s garment industry is discussed in the study. There has been literature on industrial relations, SIRs and Human Relations theory. The relevant literature review shows that not a single study has been conducted to date to investigate if the Keith Davis Human Relations Theory can promote SIRs in Bangladesh’s garment sector.