Uncertainty avoidance culture, cash holdings and financial crisis

Trần, Quốc Trung

doi:10.1108/mbr-09-2019-0117

Cited by 14 publications

(11 citation statements)

References 62 publications

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“…First, the study is carried out in Singapore—a city-state with a population density of 8291.9 inhabitants per square km (i.e., the third most densely populated country worldwide in 2019) [ 150 ] that is mostly reliant on the importation of essential and non-essential supplies. Additionally, the degree of uncertainty avoidance is one of the highest in Singapore [ 26 , 27 ], thus, these results may differ for other countries with a different degree of uncertainty avoidance. Therefore, it is advised to interpret the results bearing in mind that it does not apply to other contexts, for example, in rural or suburban locations.…”

Section: Discussionmentioning

confidence: 99%

“…Finally, risk-averse individuals show a tendency to copy the behaviors and attitudes of people that they perceive to be similar to themselves [ 19 ]. This is especially relevant to Singapore, identified to be one of the most uncertainty avoidant country in the world [ 26 , 27 ], because Singaporeans are less tolerant to risks and ambiguous situations.…”

Section: Introductionmentioning

confidence: 99%

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The Determinants of Panic Buying during COVID-19

Chua

Yuen

Wang

et al. 2021

IJERPH

124

106

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The COVID-19 pandemic has seen an unmatched level of panic buying globally, a type of herd behavior whereby consumers buy an uncommonly huge amount of products because of a perception of scarcity. Drawing on the health belief model, perceived scarcity, and anticipated regret theories, this paper formulated a theoretical model that linked the determinants of panic buying and analyzed their interrelationships. Subsequently, data were collated from 508 consumers through an online survey questionnaire in Singapore that was conducted during the early stage of the pandemic, before the onset of the circuit breaker in April 2020. Next, an analysis of the results was done through structural equation modeling. It showed that the effect of the health belief model dimensions (i.e., perceived susceptibility, perceived severity, outcome expectation, cues to action, and self-efficacy) on panic buying is partially mediated by the consumers’ perceived scarcity of products. Furthermore, the effect of perceived scarcity on panic buying is partially mediated by consumers’ anticipation of regret. This paper expands on the current theoretical understanding of panic buying behavior, giving insights into the possible measures and solutions that policymakers and relevant stakeholders can uptake to manage panic buying in future a pandemic or health crisis.

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Section: Discussionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

The Determinants of Panic Buying during COVID-19

Chua

Yuen

Wang

et al. 2021

IJERPH

124

106

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show abstract

“…Pada kondisi krisis, perusahaan memerlukan fleksibilitas keuangan yang berasal dari kas, kas di bank, piutang, hutang dagang dan aktiva lancar lainnya. Ketersediaan aktiva lancar seperti memegang kas yang berlebih pada satu sisi memberikan biaya dari aktiva tidak produktif (Ramiah et al, 2014;Tran, 2020). Pada sisi lain, ketersediaan aktiva lancar bermanfaat untuk bertahan dan memanfaatkan peluang pada kondisi krisis.…”

Section: Pendahuluanunclassified

Fleksibilitas Keuangan melalui Manajemen Modal Kerja pada Perusahaan Manufaktur dalam Kondisi Ketidakpastian

Purwanto¹

2021

JAP

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Changes in the business environment are increasingly dynamic, uncertain and unpredictable. Financial flexibility through working capital management is important for either a survival strategy, adaptive or proactive in taking advantage of opportunities for change. This study aims to examine and analyze the effect of working capital management on company profitability under uncertainty. The research design was carried out in a natural laboratory during the uncertainty period of the 2008 global financial crisis. The study was conducted by comparing working capital management and performance of 106 manufacturing companies based on data from the Indonesia Capital Market Directory around the crisis period (2007-2011). Data analysis used multiple linear regression. The effect of the financial crisis is analyzed through simulation analysis. The results of the study found that the more conservative working capital policy for investment has a positive effect on profitability performance, while the greater the short-term liabilities become an obstacle to profitability performance. However, the effect of working capital policies for financing changed during the crisis period. The proportion of working capital to finance short-term debt has a positive effect on profitability performance in crisis conditions. The results of this study have implications for the role of working capital policies for financial flexibility under conditions of crisis and uncertainty. Keywords: Financial Flexibility, Working Capital, Uncertainty

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“…Although culture is abstract, intangible and difficult to be quantified (Bitar et al, 2020), its influence to society is inherent. For example, culture serves as informal intuition for financial and strategic decision (Nash and Patel, 2019), and national culture has relation to the country financial sector (Kutan et al, 2020) or global financial crisis (Tran, 2020).…”

Section: Introductionmentioning

confidence: 99%

Does culture influence our ways in handling COVID-19?

Oey

Rahardjo

2021

IJSSP

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PurposeThe COVID-19 pandemic has hit all nations across the globe since the beginning of 2020. As the whole world is connected ever than before, the virus has spread very fast and affected almost all nations worldwide. Despite facing a common enemy, each nation reacts and manages the virus differently. The research studies how culture influences the way nations and society choose different approaches towards the pandemic.Design/methodology/approachThe study uses classical cultural dimension by Hofstede and links them with three conflict management styles “integrating”, “avoiding” and “competing” in analysing three main measurements of the pandemic (test rate, case rate and death rate). The study analyses data from 116 countries and clusters them using a combination of agglomerative hierarchical clustering (AHC) and K-means clustering.FindingsThe study shows there are six nation clusters with different ways of handling COVID-19, driven by their underlying dominant culture dimension. It shows that individualistic culture combined with high indulgence dimension makes fatality worse, while nations with collectivism culture or uncertainty avoidance culture are better off, especially if accompanied with restraint dimension or long-term orientation.Originality/valueThe originality of the research lies in linking Hofstede cultural dimension with modified Onishi's conflict management style in analysing how different cultures and nations manage the COVID-19 pandemic.

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Uncertainty avoidance culture, cash holdings and financial crisis

Cited by 14 publications

References 62 publications

The Determinants of Panic Buying during COVID-19

The Determinants of Panic Buying during COVID-19

Fleksibilitas Keuangan melalui Manajemen Modal Kerja pada Perusahaan Manufaktur dalam Kondisi Ketidakpastian

Does culture influence our ways in handling COVID-19?

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