Asian Business Research Articles

Did Biden-Harris’s reforms on the Paycheck Protection Program reduce racial disparities in lending?

AbstractIntroduced under the Trump-Pence Administration, the Paycheck Protection Program (PPP) provided short-term relief loans to small American businesses during the peak of the Coronavirus pandemic. The initial design of the PPP faced significant criticism from researchers due to racial disparities, among other issues, in its lending process. Minority groups received smaller PPP loan amounts during the original two tranches released in 2020. To increase equitable access for all, in February 2021 the Biden-Harris Administration enforced swift changes to the initial PPP aimed at favouring access to PPP loans for minority-owned small businesses that had been disadvantaged by the program’s original design under the Trump-Pence Administration. By exploiting a granular dataset of 1,759,270 PPP loans granted between Q2 2020 and Q2 2021 and by implementing a difference-in-differences approach (DID), this paper provides novel evidence on the effectiveness of the Biden reforms in reducing racial disparities within the Paycheck Protection Program. Indeed, we observe a significant increase in the volume of PPP loans granted to minority-owned businesses in the period following the Biden-Harris Administration’s reforms. Furthermore, among different minority groups, the reforms appear most effective for Native American minority groups (including American Indians, Alaska Natives, Native Hawaiians and/or Other Pacific Islanders), followed by Black Americans and Asian business owners. Our findings offer novel contributions to the existing literature on institutional discrimination, particularly regarding the initial PPP design. Our findings are especially valuable for policy makers as they underscore the importance of radical changes in addressing racial disparities. Our paper also offers evidence of how a public credit guarantee program should be designed to empower and promote economic inclusion for all, regardless of ethnicity, aligning with the UN’s Sustainable Development Goals.

Developing innovation culture in traditional Asian corporations – the case of four large business organisations in Thailand

ABSTRACT This study investigates factors affecting innovation culture in ASEAN economies and proposes a model for building innovation culture in traditional organisations. Using multiple-case analysis, the research examines four large Thai businesses across conglomerate, retail, communication, and support service sectors. We employ qualitative methods, including interviews with innovation centre directors, mid-level management, and staff, to gather insights. The study identifies key strategies for fostering innovation culture in traditional Asian organisations by analysing commonalities. The resulting model emphasises leadership, strategy, and resource allocation as crucial elements for building and maintaining an innovative culture. This research contributes to both theoretical understanding of innovation culture in traditional Asian business organisations and practical application in organisation development. The findings provide valuable insights how to overcome cultural obstacles and foster innovation in traditional ASEAN economies to improve their global competitiveness by creating a corporate culture favourable for innovation.

Harnessing Social Capital for Post-COVID-19 Resilience: A Study of Asian Businesses in New York City

Prior studies have explored how Asian businesses leverage social capital for success, but little attention has been given to its role in disaster recovery. This study addresses this gap by highlighting social capital’s impact on recovery strategies. Twenty-three business interviews were conducted in Chinatown, Manhattan, NYC, and the research unveils that ethnic social capital, including co-ethnic labor, secured market access, in-kind support, and information sharing, constitutes instrumental resources for their recovery. Moreover, it is linked to the intersecting identities—immigrant, minority, and Asian. These findings underscore the importance of comprehending ethnic social capital to foster both business resilience and local economic recovery.

An empirical study on driving blockchain adoption in Maritime freight: an Asian business perspective

PurposeIn the existing era, international trade is boosted by maritime freight movement. The academicians and Government are concerned about environmental contamination caused by maritime goods that transit global growth and development. Digital technologies like blockchain help the maritime freight business to stay competitive in the digital age. This study aims to illuminate blockchain technology (BCT) adoption aspects to alleviate early industry adoption restrictions.Design/methodology/approachThis study adopts a two-stage approach comprising of structural equation modeling (SEM) with artificial neural networks (ANN) to analyze critical factors influencing the adoption of BCT in the sustainable maritime freight industry.FindingsThe SEM findings from this study illustrate that social, organizational, technological and infrastructual and institutional factors affect BCT execution. Furthermore, the ANN technique uses the SEM data to determine that sustainability enabled digital freight training (S3), initial investment cost (O5) and trust over digital technology (G1) are the most essential blockchain deployment factors.Originality/valueThe hybrid approach aims to help decision-makers and policymakers examine their organizational blockchain adoption goals to construct sustainable, efficient and effective maritime freight transportation.

A corporate social responsibility (CSR)-led competitiveness framework through a bibliometric analysis (2001–2023)

PurposeCorporate social responsibility (CSR) is viewed as a differentiating strategy that wins over stakeholders’ confidence. Due to the potential strategic and positive effects on businesses, the study of CSR and its relationship to competitiveness has gained relevance. While studies have examined the impact of CSR activities on firm competitiveness, the findings so far remain contradictory. Further research on the underlying processes/mechanisms that explain how CSR contributes to competitiveness remains scarce. Accordingly, this study aims to look into the link between CSR and competitiveness with a focus on Asian business and management studies.Design/methodology/approachBy using a bibliometric approach, this paper aims to provide a review of the state-of-the-art research on the linkage between CSR and competitiveness in Asian context. The sample for this research included all 538 studies from the period of 2001–2023 in the Scopus database. A bibliometric study included both co-occurrence and co-citation analysis.FindingsThe study’s findings made significant contributions by identifying seven distinct clusters of co-occurrences. Using co-citation, three journals-based co-citation clusters and another three authors-based co-citation clusters are identified. The findings show how processes/mechanisms such as – accountability, multi-stakeholder dialogue/engagement, resource generation, emphasizing sustainable development goals and emerging markets, redefining strategy, cultivating value/vision and CSR leadership – are increasing in importance.Practical implicationsOverall, the authors argue that CSR-led competitiveness is indeed one of the key drivers for improved sustainability performance of a firm.Originality/valueBased on findings, a conceptual framework has been proposed highlighting different processes and mechanisms that influence the CSR-led competitiveness – outcomes relationship.

Does China Matter to the Chinese Overseas? A Case Study of Malaysian Chinese Businesses

Abstract Do businesses owned or operated by the Chinese diaspora engage more with China than businesses owned by non-ethnic Chinese? To answer this question, ethnic Chinese owned companies listed on the Malaysian stock exchange were compared with non-Chinese owned/controlled on the extent of their business in China. Of some 800 listed companies as of December 2017, 547 or 68% are Malaysian Chinese companies. Of the latter, some 18.4%, conduct business in China compared to just 8.5% among the non-ethnic Chinese listed companies. This finding needs to be qualified first, by the fact that the companies’ presence in China may not represent a major portion of their business. As some firms do not separate their China- from other Asian businesses, the extent of China engagement is likely to be underestimated. Second, while economic motives were responsible for their presence in China, “cultural citizenship” and family business patriarchs being first or second generations could help explain their affinity to China.

Asian entrepreneurship in the coronavirus era

The COVID-19 pandemic has had a deleterious impact on the world economy. Studies have documented the disproportional impact of the pandemic on minorities, immigrants, and business owners in the USA. In this study, we use Current Population Survey monthly data spanning from January 2014 through December 2021 to examine how the COVID-19 pandemic affected Asian entrepreneurship. We show that the pandemic disproportionally hurt Asian entrepreneurship, particularly among immigrants, up until the end of 2020. A detailed analysis of Asian business dynamics reveals a substantial increase in self-employment exits during the first year of the pandemic. We fail to find convincing evidence of differential industry/job-type concentration, individual preferences, majority-minority disparities, narrower clientele, or differential access to government support as primary drivers for such patterns. Instead, we find suggestive evidence of discrimination playing a non-negligible role that subsided in 2021, coinciding with the rollout of vaccines.

The Impact of Instagram Promotion on Purchase Intention at The Langham Jakarta

This research studies the impact of Instagram Promotion on Purchase Intention at The Langham Jakarta, the inaugural Southeast Asian business hotel branch in SCBD. Strategically positioned in Jakarta's bustling business district, it faces competition from established hotels like Ritz-Carlton Pacific Place, Raffles, Four Seasons, Park Hyatt, and St. Regis. This research aims to identify how the local market perceives The Langham Jakarta as a viable hotel option by examining the impact of their Instagram Promotion activities on consumers’ purchase intention. This study uses an extensive approach to examine how consumers responded to The Langham Jakarta's Instagram promotion efforts to determine whether these efforts affected consumers' intentions to make a purchase. This study aims to offer important insights into the efficacy of Instagram promotion as a marketing technique for hotels entering established areas through data analysis and interpretation. The research’s purpose is to further our knowledge of consumer behaviour and marketing tactics in the hospitality sector, providing hotels looking to improve their competitive position with practical advice. The results from the hypothesis testing phase show that Instagram Promotion has a positive and significant impact on Purchase Intention. The next researcher should examine and add a broader range of variables to discover how they impact consumers' purchasing decisions.

Reviving the aspiration, fostering impactful research, and contributing to the sustainable development and societal impact at Asian Business and Management

Reviving the aspiration, fostering impactful research, and contributing to the sustainable development and societal impact at Asian Business and Management

The Causal Interplay between Corruption and Foreign Direct Investment: Evidence from China and India

This paper uses cointegrated error-correction modeling to investigate the nature of Granger causality between corruption and foreign direct investment (FDI) in two rapidly emerging economic superpowers; namely, China and India. The results for China and India indicate that short-run Granger causality unidirectionally runs from FDI to corruption without feedback. These empirical findings (along with supporting theoretical arguments) dispute prior correlational-based studies which claim that corruption instigates changes in FDI. However, our results further support significant long-run causality running from corruption to FDI inflows, but only in India (not in China). This finding reinforces theoretical propositions of lower corruption arbitrariness in China as compared to India. Furthermore, short- and long-run causality between corruption and FDI in India appear dynamic in nature and time-sensitive implying some difficulties for policymakers in their fight against corruption. The paper discusses possible underlying reasons for the empirical results and draws several policy and Asian business implications.

Sosialisasi Implementasi ABSS (Asian Business Software Solution) Accounting v.27 di SMAN 4 Padang

Manual accounting systems are no longer possible to use in business processes. This is due to the increasing number of business transactions. Therefore, a computer accounting system needs to be implemented immediately. The implementation and use of computer accounting is not only limited to technical aspects but also requires an effective socialization process to ensure acceptance and proper use by users. Socialization can start with those who study accounting. The dedication of this article is the socialization of how to implement Asian Business Software Solution (ABSS) Accounting by applying it, which is v.27 at SMAN 4 Padang. This service activity explained the basic concepts of accounting computers and identified the benefits obtained from their use so that SMAN 4 Padang students can apply them. Of the 34 students who participated in this service activity, 60.6% said that this activity increased their knowledge and motivation to study, while another 39.4% said it was helpful. According to the participants, this service activity had quite an impact on them.

The impacts of COVID‐19 on racial inequality in business earnings

AbstractMany small businesses closed in the pandemic, but were economic losses disproportionately felt by businesses owned by people of color? This paper provides the first study of the impacts of COVID‐19 on racial inequality in business earnings. Pandemic‐induced losses to business earnings in 2020 were 16% to 19% for all business owners. Racial inequality increased in the pandemic: Black business owners experienced larger negative impacts on business earnings of 12% to 14% relative to White business owners. Regression estimates for Latinx and Asian business owners reveal negative point estimates but the estimates are not statistically significant. Using Blinder‐Oaxaca decompositions and a new pandemic‐focused decomposition technique, I find that the industry concentrations of Black, Latinx, and Asian business owners placed each of these groups at a higher risk of experiencing disproportionate business earnings losses in the pandemic. Higher education levels among Asian business owners helped insulate them from larger losses from COVID‐19. In the following year of economic recovery, 2021, business earnings rebounded strongly for all groups except for Asian business owners, who experienced large relative losses (which were partly due to industry concentrations). State‐level variation in policies and disease spread does not explain racial differences in business earnings losses or rebounds.

Quiet Quitting – Implications for Asian Businesses

Quiet quitting has emerged as an area of concern for businesses and societies in the wake of the ‘Great Resignation’ following COVID-19. While there is an emerging body of work surrounding the motivations of quiet quitting as a rejection of being enslaved to one’s work, little is known as to the implications of this phenomenon on Asian businesses. This viewpoint provides an overview of the literature to date and explores the steps Asian businesses should take to address potential quiet quitting proclivities among the existing and future workforce. In particular, businesses need to consider how COVID-19 has changed the landscape of work and generated psychological stresses among employees working from home, who have had to deal with their professional and private lives concurrently (Liu 2023). To combat quiet quitting in this new era, it is imperative to rethink work cultures, with an emphasis on facilitating greater autonomy in how work is performed (where applicable) and accordingly re-evaluating employment contracts.

The Influence of Cultural Differences on Gender Issues in Tourism and Hospitality Employment: A Grounded Theory Analysis

Gender issues involving job employment and promotion in the tourism and hospitality industry are influenced by cultural differences between individualism and collectivism. As many countries rely on revenue from tourism and hospitality, raising awareness of culturebased gender issues contributes to the sustainable development of this sector. Consequently, given the uncertainty and ambiguity surrounding these concepts, it is important to explore the functional mechanisms of cultural differences in gender issues. To this end, this study employed the grounded theory method to conduct semi-structured interviews of human resource managers of tourism organizations in various countries. It was concluded that four key factors—gender-based employment opportunities, gender-based job promotions, gender in leadership roles, and gender bias—are impacted by cultural differences in gender issues. These findings are discussed with the support of previous research, following which a theoretical framework is constructed to illustrate the significance of individualistic and collectivistic cultures' different perspectives on gender issues. This paper then explains the implications of the findings for scholarly and managerial fields, with a particular focus on the implications for the Asian business context. Finally, the limitations of the study are acknowledged, and recommendations for future research are provided.

Unboxing SERVQUAL: SQuID Inside!

Maps based on bibliographic data of 50 of 264 keywords in 111 papers show that service quality, SERVQUAL, and customer satisfaction are the most popular topics in service management research. The discussion about costs are relatively minimal and is not directly related to SERVQUAL but to service quality and customer satisfaction. This empirical evidence is interesting, given that cost is an intrinsic element of service quality that is much more measurable and controllable in practice. The logical relationship between price, cost, activity, and service quality was studied to find the possibility of placing the cost aspect into the original model of SERVQUAL. A mixed methods study combining preliminary theoretical evaluation and empirical research findings is used to develop the model of ServQual. This study succeeded in presenting gaps 6 and 7 inside a framework called the Service Quality Improvement Driver (SQuID). SQuID clarifies the significant relationship between service quality, cost, and price on SERVQUAL. This framework can help companies analyze and develop traceable service quality comprehensively and improve service quality effectively, even on an ongoing basis. Further research in the geographical context shows that the SQuID framework can be a practical solution for Asian businesses that are already quite familiar with SERVQUAL. Cultural-based service quality in the dimensions of tangible and empathy need special consideration when implementing the SQuID framework in several business sectors in Asia

The influence of jenang ayas label and packaging on customer purchase decision

Jenang ayas is ethnic food from Gresik, East Java, Indonesia. Recently, jenang ayas are still packaged using improvised packaging, and the information conveyed regarding the product is still lacking. Even though the label information on the packaging can attract consumers' attention in making purchases, packaging will not only serve to protect the product but also as a means of promotion to increase the selling value of the product and influence the customer purchase decision. Therefore, this study aimed to examine the influence of the jenang ayas label and packaging that affect the customer purchase decision. A quantitative method with a descriptive approach was adopted following 179 responses to the online questionnaire. The finding revealed that the independent variables (label and packaging of jenang ayas) positively affected the dependent variable (customer purchase decision) both partially and simultaneously. The influence of food labels was greater than the packaging, with a value of 0.200 compared to 0.119. Label information, especially the expiration date, becomes an important factor in the jenang ayas product based on consumer choice. This study result provides useful insight into strategies for producing jenang ayas as Gresik food souvenir products in the Asian business.

The Influential Roles of Past Experience, Affective Attitude, and Destination Culture on Thai Tourists’ Likelihoods of Revisitation and Recommendation

Drawing upon tourism contribution, tourists’ visitations are the backbone of the country’s economic growth and development. This study thus aims to test a structural model for examining the relationship between tourists’ affection, cultural perceptions, their revisit, and recommendation intentions through the mediating role of past travel experience. To test our hypotheses, 547 questionnaires from Thai tourists were analyzed using structural equation modeling. The results show that all hypotheses are substantially confirmed and statistically significant except for the affective attitude aspect which is not found to influence tourists’ revisit and recommendation intentions. Notwithstanding, we found that the tourist experience catalyzes revisit and recommendation intentions. However, tourists’ affection perception only nurtures their travel experience, but not for revisitation and recommendation. As such, this study sheds a new laser light on how tourists’ perceptions can influence future economic growth. The recommendations and suggestions on these findings are explained and can be an avenue for future research. Implications for entrepreneurs, policymakers, and the Asian business context are also presented.

Barriers to immigrant entrepreneurship: A causal relationship analysis of the Asian immigrant entrepreneurs in Germany employing the DEMATEL approach

Research background: Entrepreneurship and migration are top priorities on many national and international agendas. As a result, entrepreneurship is one of the most popular strategies immigrants use to avoid unemployment in a host country. However, studies lack to discuss causal relationships among key barriers to immigrant entrepreneurs. Purpose of the article: This study attempts to fill the knowledge gap and investigate the causal relationship between the primary obstacles faced by Asian immigrant entrepreneurs in Germany. Methods: A predesigned questionnaire was used in face-to-face interviews with Asian business owners in Germany for the study, and the Decision-Making Trial and Evaluation Laboratory (DEMATEL) method of data analysis was used. Findings & value added: The findings reveal that lack of sufficient financial resources to establish a business, high market competition, and a lack of knowledge of the local language of the host country are the most significant barriers, among others, which may severely hamper Asian immigrant business performance and have a considerable impact on their entrepreneurial decision. At the same time, lack of professional knowledge & skills, problems with rules & regulations, and cultural differences are among the least essential obstacles for Asian immigrant entrepreneurs. The findings show that unfamiliarity with the local language, problems with rules and regulations, cultural differences, and lack of international business experience are associated with the causer category. However, lack of enough capital to establish a venture, lack of professional knowledge and skills, difficulty in access to financial resources, and high market competition relate to the receiver category. This research generates value for policymakers, particularly those participating in migration studies. One of the study's novelties is using the DEMATEL framework for decision-making on barriers to immigrant entrepreneurship in the European context.

Online Marketing Strategy and Customer Loyalty in E-commerce-Based Asian Business: The Case of Tokopedia and Shopee

This research investigates the dynamic interactions between online marketing strategies, customer loyalty, and e-commerce business success in Asian markets, with a particular focus on the Tokopedia and Shopee platforms. Quantitative analysis was conducted with a diverse sample, taking into account demographic factors such as age, gender, and geographical distribution. The measurement model assessment confirmed the reliability and validity of the survey instrument, providing a solid foundation for the subsequent analysis. Evaluation of the structural model revealed a significant direct impact of online marketing strategies on customer loyalty, which in turn positively impacts e-commerce business success. The model fit assessment, R-Square value, and hypothesis testing results collectively underscore the robustness and significance of this study's findings. The implications of this study extend to businesses, marketers, and policymakers looking to navigate the competitive landscape of Asian e-commerce.

기업집단 국제화 문헌연구

Purpose – Business groups in Korea and Japan have different national environments. It will be possible to examine how their corporate governance affects performance and finance, and how it affects economic development and innovation through literature research related to the field of international management. Design/Methodology/Approach – This study reviewed domestic and foreign papers related to keiretsu and chaebol from 2001 to 2020. As a result, we selected and analyzed 39 foreign journals and 6 domestic journals, a total of 45 papers. Findings – It was found that interest in the impact of each factor on corporate performance, such as internationalization, resources and capabilities, business group attributes, and corporate governance, was high. It was found that research related to Asian business groups, especially chaebol and keiretsu, is so closely related to corporate performance that it cannot be considered separately. However, domestic journals only focused on chaebol research, and there was no research on keiretsu. Research Implications – It is expected that the roles and discussions of business groups will be expanded by reviewing existing literature on Korea’s chaebol and Japan's keiretsu among business groups, and reviewing comparative literature under different corporate governance structures. In addition, it will serve as an opportunity to identify the direction of academic research through a literature review of business groups in the two countries.