Purpose This paper aims to clarify the mechanism by which heuristics influences the investment decisions of individual investors, actively trading on the Pakistan Stock Exchange (PSX), and the perceived efficiency of the market. Most studies focus on well-developed financial markets and very little is known about investors’ behaviour in less developed financial markets or emerging markets. The present study contributes to filling this gap in the literature. Design/methodology/approach Investors’ heuristic biases have been measured using a questionnaire, containing numerous items, including indicators of speculators, investment decisions and perceived market efficiency variables. The sample consists of 143 investors trading on the PSX. A convenient, purposively sampling technique was used for data collection. To examine the relationship between heuristic biases, investment decisions and perceived market efficiency, hypotheses were tested by using correlation and regression analysis. Findings The paper provides empirical insights into the relationship of heuristic biases, investment decisions and perceived market efficiency. The results suggest that heuristic biases (overconfidence, representativeness, availability and anchoring) have a markedly negative impact on investment decisions made by individual investors actively trading on the PSX and on perceived market efficiency. Research limitations/implications The primary limitation of the empirical review is the tiny size of the sample. A larger sample would have given more trustworthy results and could have empowered a more extensive scope of investigation. Practical implications The paper encourages investors to avoid relying on heuristics or their feelings when making investments. It provides awareness and understanding of heuristic biases in investment management, which could be very useful for decision makers and professionals in financial institutions, such as portfolio managers and traders in commercial banks, investment banks and mutual funds. This paper helps investors to select better investment tools and avoid repeating expensive errors, which occur due to heuristic biases. They can improve their performance by recognizing their biases and errors of judgment, to which we are all prone, resulting in a more efficient market. So, it is necessary to focus on a specific investment strategy to control “mental mistakes” by investors, due to heuristic biases. Originality/value The current study is the first of its kind, focusing on the link between heuristics, individual investment decisions and perceived market efficiency within the specific context of Pakistan.

In today’s globalized world, it has become challenging for organizations to prevent environmental damage and decay as they are the major contributors to these concerns. Researchers in the field of organizational behavior and sustainable development have been concentrating on the role of corporate leaders in deriving employee green behavior (EGB). Despite a few early attempts in this emerging field, no precise antecedents and mechanisms have been established so far. Accordingly, this research contributes to this emerging debate by examining how and under what conditions ethical leadership affects EGB. This study investigates the impact of ethical leadership on EGB through the mediation of green psychological climate (GPC) and the boundary condition of environmental awareness. This research uses social learning theory to derive hypotheses. This study empirically examines the underlying framework by conducting two surveys with time-based breaks to collect multilevel data from 410 employees working in four private and public sector universities and hospitals in Pakistan. We conducted multilevel path analysis through Mplus and confirmed a statistically significant positive effect of ethical leadership on GPC that ultimately translates to EGB. Further, the contingency of environmental awareness strengthens the indirect impact of ethical leadership on EGB through the mediation of GPC. Our findings reveal various ways by which organizations can strategically focus on employee green behavior, such as saving energy, wastage, and recycling.

Purpose Despite more than two decades of experience regarding the adoption and implementation of enterprise resource planning (ERP) systems in organizations, ERPs success is questionable. Though ERPs success stories are published in past research studies, the failure rate of ERP systems is relatively high. The purpose of this study was to find issues and challenges and assess the degree of criticality of these issues/challenges faced by organizations during ERP implementation. Design/methodology/approach For doing systematic review/research synthesis systematic literature review (SLR) was carried out considering research studies published within the time period, i.e. 1999-2018. Three major steps such as planning, conducting and reporting were followed to proceed further in this study. This study attempted to accomplish a critical review of 53 studies out of 103 studies identified, which were published in reputable journals to synthesize the existing literature in the ERP domain. The studies selected have almost addressed different challenges/issues faced by small and large organizations during ERP implementation. Findings Research synthesis/SLR led to the identification of 31 issues/challenges, which may be termed as most critical based on their occurrence/frequency in past studies included. The topmost ten issues/challenges amongst 31 identified include top management approach, change management, training and development, effective communication, system integration, business process reengineering, consultants/vendors selection, project management, project team formation, team empowerment/skilled people and data conversing/migration. However, other issues/challenges identified such as security risks/data security, cloud awareness, functionality limitations, service level agreements and subscription expenses are more related to cloud ERPs. Originality/value The current study is unique in its kind, focusing on the issues and challenges faced by organization during implementing ERP projects. Moreover, this study contributes to understanding and further analyzing management capabilities for developing remedial measures while planning the implementation of an enterprise system in their organizations prior to the occurrence of different issues and challenges ahead. The study also led to understanding and explaining socio-technical issues and their severity.

This study attempts to advance the current research debate on corporate social responsibility (CSR) at the micro-level by empirically examining the effect of perceived CSR on employee behaviors such as turnover intention and workplace deviance with the mediation mechanism of organizational identification. The boundary condition of group-level abusive supervision also enhances the novelty of this research. Social identity theory is used for hypotheses development. Multilevel data is collected from 410 middle managers working in thirteen commercial banks in Pakistan by conducting three surveys with temporal breaks. Our results suggest that employees’ perceived CSR is statistically and inversely related to their turnover intention and deviant behavior, along with the mediation mechanism of organizational identification. Further, this relationship is weakened with the moderation of abusive supervision. Specifically, our findings indicate that employees’ positive CSR perceptions minimize their undesired workplace behaviors through the mediation of organizational identification. But this effect becomes less effective with the contingency of abusive supervision. Our results reveal several means by which organizations can manage their CSR initiatives and human resources, for instance by concentrating on abusive supervision while evaluating their employees’ behavior.

In this era of globalization, preventing organizations from undermining and degrading the environment has become a great challenge, especially when considering that organizations are among the major contributors to environmental deterioration. As a result, scholars have recently begun to focus on understanding the key determinants of employee green behavior (EGB), a nascent field within the area of sustainable development and organizational behavior. This study extends the emerging discussion over EGB by investigating how green behavior can be inculcated into employees’ mindsets and under what conditions this can best be accomplished. The present research examines the relationship between ethical leadership and EGB by the mediating mechanisms of green psychological climate, employees’ harmonious environmental passion, and employees’ environmental commitment, through the underpinnings of social learning theory. Further, the study examines the contingency effects of leaders’ pro-environmental attitudes to determine how leaders with ethical attributes and pro-environmental attitudes can create a green psychological climate that ultimately leads to EGB through employees’ harmonious environmental passion and employees’ environmental commitment. The approach to implementing theory development is deductive as the research employed a quantitative research design and survey administration with a time-lagged approach. Multi-level data were collected from 400 respondents working in public and private sector hospitals and universities in Pakistan. The analysis was conducted in MPlus. The results show positive and statistically significant effects of ethical leadership on EGB through the serial mediations of a green psychological climate and employees’ harmonious environmental passion, and a green psychological climate and employees’ environmental commitment. Moreover, the leaders’ pro-environmental attitude contingency strengthens the indirect impact of ethical leadership on EGB. This research provides several managerial implications through which organizations can strategically concentrate on EGB, including saving energy by turning off unused lights, reducing waste, and recycling.

A vast stream of literature has investigated the effect of corporate social responsibility (CSR) on firms’ financial performance (FFP). However, this effect has remained unclear and undecided. For instance, numerous studies have examined the direct impact of firms’ CSR initiatives on FFP, as well as examining various mechanisms to explain this relationship, but found inconsistent results. The indecisive results indicate that researchers lack consensus to define a mechanism to understand how and under what conditions CSR can affect FFP. Thus, this research aims to investigate how firms’ CSR perception and disclosure derive accounting- (return on equity: ROE, earnings per share: EPS), market- (Tobin Q) and perception-based firms’ financial performance through the mediation of competitive advantage and boundary conditions of family ownership and CEO narcissism. This research underpins the theoretical lens of the resource-based view to derive hypotheses. The research design employed in this study is quantitative, and the approach to theory development is deductive. Multi-method and multi-source data with temporal breaks are collected from 60 manufacturing firms listed on the Pakistan Stock Exchange (PSE). Primary data are collected from the top and middle managers, while secondary data are collected from the annual reports published by these firms. This research found that competitive advantage significantly mediated the indirect impact of perceived CSR and disclosure on FFP. Further, this relationship is strengthened by the contingencies of family ownership and CEO narcissism. Our results will assist the management of the firms to understand the implications of CSR perceptions and disclosure to derive a competitive advantage that ultimately translates into the firms’ financial performance. Further, this research also revealed that managers should concentrate on the boundary conditions of family ownership and CEO narcissism as well. In particular, this research contributes to understand why CSR is viewed to have a strategic importance for the firms and how a resource-based perspective might be utilized in such endeavors.

The Digital Transformation phenomenon always tends to be complicated, ambiguous, challenging, and non-routine managerial tasks for organizations. The success rate of such digital transformation is very low due to rapid changes in technologies. Digital transformation through these technologies demands a fundamental change in organization processes, technology and behavior of the people. This broad change results in different socio-technical issues and challenges. The primary objective of the study is to discover issues, challenges and impact/benefits during digital transformation, investigated by various researchers. For this purpose, a systematic literature review (SLR) as prescribed by Levy and Ellis (2005) helped in identifying the challenges of digital transformation. The articles published from 2008 to 2018 were selected and analyzed. The findings of this research reflect the importance of developing an effective digital transformation strategy in organizations. The proactive strategy regarding people, process, technology, and most importantly their alignment in the organization is found critical in executing such transformation initiative in the organization. The planned efforts regarding knowledge management also played an important role in executing and sustaining such transformation initiatives in the organizations. Moreover, value creation, operational efficiency, competitive advantage, customer relationship, and new business model emerged as a vital motivational factor and outcome for digital transformation. Keywords: Digital transformation, digital transformation issues and challenges, systematic literature review, digital transformation benefits/impact.

This research aims to investigate how firms' Corporate Social Responsibility (CSR) perception and disclosure derive accounting, market, and perception-based Firms' Financial Performance (FFP) through the serial mediation of individual-level organizational identification (OID) and employees' innovative job performance (EIJP). Philosophically, this research comes under the beliefs or worldview of postpositivism and employed a quantitative research design. And thus, the approach to theory development is deductive. Multi-method, multi-source and multilevel data with temporal breaks are collected from 60 manufacturing firms listed on the Pakistan Stock Exchange (PSE). Primary data are collected by following the survey strategy and by conducting multiple surveys. While the secondary data are collected from the annual and sustainability reports published by selected firms on their official websites. This research found the serial mediation of OID and employees' innovative job performance on the CSR-FFP relationship. Our results will assist the management of the firms to understand the strategic implications of their CSR initiatives. In particular, this research contributed to understand why CSR is viewed to have strategic importance for the firms and how social identity theory (SIT) might be utilized in such endeavors.