Samra Chaudary, Sohail Zafar and Thomas Li-Ping Tang
Following behavioral finance and monetary wisdom, the authors theorize: Decision-makers (investors) adopt deep-rooted personal values (the love-of-money attitudes/avaricious…
Abstract
Purpose
Following behavioral finance and monetary wisdom, the authors theorize: Decision-makers (investors) adopt deep-rooted personal values (the love-of-money attitudes/avaricious financial aspirations) as a lens to frame critical concerns (short-term and long-term investment decisions) in the immediate-proximal (current income) and distal-omnibus (future inheritance) contexts to maximize expected utility and ultimate serenity across context, people and time.
Design/methodology/approach
The authors collected data from 277 active equity traders (professional money managers and individual investors) in Pakistan’s two most robust investment hubs—Karachi and Lahore. The authors measured their love-of-money attitude (avaricious monetary aspirations), short-term and long-term investment decisions and demographic variables and collected data during Pakistan's bear markets (Pakistan Stock Exchange, PSX-100).
Findings
Investors’ love of money relates to short-term and long-term decisions. However, these relationships are significant for money managers but non-significant for individual investors. Further, investors’ current income moderates this relationship for short-term investment decisions but not long-term decisions. The intensity of the aspirations-to-short-term investment relationship is much higher for investors with low-income levels than those with average and high-income levels. Future inheritance moderates the relationships between aspirations and short-term and long-term decisions. Regardless of their love-of-money orientations, investors with future inheritance have higher magnitudes of short-term and long-term investments than those without future inheritance. The intensity of the aspirations-to-investments relationship is more potent for investors without future inheritance than those with inheritance. Investors with low avaricious monetary aspirations and without inheritance expectations show the lowest short-term and long-term investment decisions. Investors' current income and future inheritance moderate the relationships between their love of money attitude and short-term and long-term decisions differently in Pakistan's bear markets.
Practical implications
The authors help investors make financial decisions and help financial institutions, asset management companies, brokerage houses and investment banks identify marketing strategies and investor segmentation and provide individualized services.
Originality/value
Professional money managers have a stronger short-term orientation than individual investors. Lack of wealth (current income and future inheritance) motivates greedy investors to take more risks and become more vulnerable than non-greedy ones—investors’ financial resources and wealth matter. The Matthew Effect in investment decisions exists in Pakistan’s emerging economy.
Details
Keywords
- Behavioural finance/economics/prospect theory/risk-taking/aversion
- Planned behaviour/TPB
- Values
- Love of money/money/greed/power/achievement/obsession/budget
- Current/income/future/inheritance/time/gender
- Short-term/Long-term/Decision-making
- Conservation/resource/wealth/possession/stress
- Bull/Bear/Market
- Pakistan Stock Exchange (PSX-100)
Valentina Cucino, Rosangela Feola and Andrea Piccaluga
In the current context of increasing awareness about dramatic societal challenges, a growing number of businesses, including both small enterprises and large corporations, are…
Abstract
In the current context of increasing awareness about dramatic societal challenges, a growing number of businesses, including both small enterprises and large corporations, are increasingly embracing more socially oriented behaviors and aligning their innovative strategies and business models to address specific societal needs. Widespread expectations toward more inclusive and sustainable forms of entrepreneurship are determining the need to prioritize objectives toward individuals, society, and stakeholders, beyond mere profit. This study advocates a human-centered perspective in entrepreneurial theory, recognizing human capital’s relevance in the contemporary economic landscape.
Employing a qualitative approach, the authors investigated 17 Italian innovative start-ups with a strong social orientation. Through the Gioia methodology, the authors examined the antecedents of three dimensions within the humane entrepreneurship framework – Sustainable Orientation, Entrepreneurial Orientation, and Human Resources Orientation – and their role in fostering Humane Entrepreneurial Orientation. Innovative start-ups’ outcomes reveal that three antecedents – namely, prior engagement in voluntary activities, connections within the local community, and adept relational skills – exert influence on the development of humane entrepreneurship.
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Luis Felipe Dias Lopes, Anavaléria Vieira Santos, Deoclécio Junior Cardoso da Silva, Igor Bernardi Sonza, Daniel Knebel Baggio, Gilnei Luiz de Moura, Wesley Vieira da Silva and Claudimar Pereira da Veiga
This research sheds light on the distinct decision-making behaviors and perceptions related to the value attributed to money, uncovering nuances in the interrelationship between…
Abstract
Purpose
This research sheds light on the distinct decision-making behaviors and perceptions related to the value attributed to money, uncovering nuances in the interrelationship between money valuation and its ensuing influence on risk perceptions and related behaviors, mainly focusing on financial education.
Design/methodology/approach
Executed in the Brazilian market, this study employs a quantitative approach, encompassing 663 participants and deploying comprehensive statistical methodologies – principally, structural equation modeling based on variances – to scrutinize the amassed primary data.
Findings
The insights from the study reveal a significant impact of both negative money value (NMV) and positive money value (PMV) on participants' financial decisions, profoundly shaping perceptions, acceptances and responses to risk. Consequently, this study underscores the pivotal role the perceived value of money plays in sculpting financial behaviors and formulating risk management strategies. Distinctly, this research emphasizes intrinsic monetary values, extending unprecedented insights by delineating aversive behaviors toward losses and risks and probing the repercussions of both negative and positive monetary values.
Originality/value
It acts as an avant-garde exploration, unveiling new perspectives on upcoming consumers' anticipated financial decision-making approaches and pinpointing areas warranting deeper exploration and comprehension within the fluid consumer market landscape.
Propósito
Esta investigación arroja luz sobre los distintos comportamientos y percepciones en la toma de decisiones relacionadas con el valor atribuido al dinero, descubriendo matices en la interrelación entre la valoración del dinero y su influencia subsiguiente en las percepciones de riesgo y comportamientos relacionados, centrándose principalmente en la educación financiera.
Diseño/Metodología/Enfoque
Ejecutado en el mercado brasileño, este estudio emplea un enfoque cuantitativo, abarcando a 663 participantes y desplegando metodologías estadísticas integrales, principalmente el Modelado de Ecuaciones Estructurales basado en varianzas, para escrutar los datos primarios acumulados.
Resultados
Las percepciones obtenidas en el estudio revelan un impacto significativo tanto de los Valores Negativos como de los Valores Positivos del Dinero en las decisiones financieras de los participantes, moldeando profundamente percepciones, aceptaciones y respuestas al riesgo. En consecuencia, este estudio subraya el papel fundamental que desempeña el valor percibido del dinero en la formación de comportamientos financieros y en la formulación de estrategias de gestión de riesgos. De manera distintiva, esta investigación enfatiza los valores monetarios intrínsecos, ampliando perspectivas sin precedentes al delinear comportamientos aversivos hacia pérdidas y riesgos y explorar las repercusiones de los valores monetarios negativos y positivos.
Originalidad
Actúa como una exploración vanguardista, desvelando nuevas perspectivas sobre los enfoques de toma de decisiones financieras anticipadas por parte de los consumidores emergentes y señalando áreas que requieren una exploración y comprensión más profundas dentro del dinámico panorama del mercado de consumidores.
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Pushkar Pushp and Faisal Ahmed
The discourse on global value chains (GVC) is undergoing a transformation in terms of its conceptualisation, theorisation and pragmatic applications. Today, the production systems…
Abstract
Purpose
The discourse on global value chains (GVC) is undergoing a transformation in terms of its conceptualisation, theorisation and pragmatic applications. Today, the production systems have become more complex as global economic order continues to witness marked geo-economic manoeuvring. Thus, the direction of discourse on GVC ought to move from mere theoretical propositions toward becoming more evidence based. There have been recent studies that have used the governance and upgrading propositions by Gary Gereffi and others to seek quantitative evidence. This study aims to decipher the quantitative discourse on GVC and to set the emerging and future research agenda.
Design/methodology/approach
Through a systematic literature review, the authors first analyse the quantitative studies on GVC carried out during the last two decades. The authors then outline a future research agenda and examine a few relevant modelling techniques that could potentially be used to solicit newer evidence in GVC research.
Findings
The authors categorise the quantitative discourse on GVC into three crucial themes, namely, GVC framework, GVC participation and position, environmental aspects and regionalisation in GVC. The most commonly used quantitative techniques are gravity model, panel data estimation, structural decomposition analysis and computable general equilibrium modelling.
Originality/value
This paper contributes to the GVC discourse in two ways. Firstly, the authors argue that the theoretical frameworks within the GVC discourse should be complemented by evidence-based quantitative studies. Secondly, the authors suggest potential modelling techniques that can be used on the emerging and future research agenda.
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Evi Chatzopoulou, Athanasios Poulis and Apostolos Giovanis
This study aims to examine the impact of firm-generated content (FGC) on lesbian, gay, bisexual, transgender, queer/questioning (LGBTQ+) influencers, focussing on inclusive…
Abstract
Purpose
This study aims to examine the impact of firm-generated content (FGC) on lesbian, gay, bisexual, transgender, queer/questioning (LGBTQ+) influencers, focussing on inclusive marketing strategies and enquires the ability of LGBTQ+ influencers to enhance brand engagement and loyalty within diverse communities.
Design/methodology/approach
A quantitative approach was utilized, and data was collected via social media platforms. Structural equation modelling (SEM) was employed to explore the relationships between FGC, influencer content, dimensions of place attachment and brand loyalty.
Findings
According to the findings FGC positively influences LGBTQ+ influencers, which in turn affect in a significant way place identity and place social bonding. Both dimensions of place attachment were found to have a positive impact on brand loyalty, which indicate that LGBTQ+ influencers have an important role in enhancing brand engagement through inclusive marketing.
Practical implications
Firms in order to increase their brand loyalty and customer engagement, need to adopt inclusive marketing strategies that resonate with LGBTQ+ communities. In order to do so they need to work with LGBTQ+ influencers that can effectively communicate the brand’s commitment to diversity and inclusion, thus fostering a stronger emotional connection with the brand.
Originality/value
This study introduces a conceptual framework that highlights the mediator role of place attachment in the relationship between influencer marketing and brand loyalty. This research contributes to the existing literature by providing empirical evidence on the effectiveness of leveraging LGBTQ+ influencers in inclusive marketing campaigns.
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Dalia Al-Tarazi, Rachel Sara, Paul Redford, Louis Rice and Colin Booth
The purpose of this paper is to explore the importance of personalisation in the relationship between the architectural design of homes and inhabitants’ psychological well-being.
Abstract
Purpose
The purpose of this paper is to explore the importance of personalisation in the relationship between the architectural design of homes and inhabitants’ psychological well-being.
Design/methodology/approach
This interdisciplinary mixed-method study first investigates the existence of a link between personalisation and users’ association with home through a quantitative study (n = 101) and then explores the nature of this relationship through qualitative interviews (n = 13) in a sequential explanatory approach.
Findings
The main findings of the study highlight the significance of personalisation in relation to the way people perceive home. A direct link was established between participants’ involvement in the transformation of the home and their satisfaction with the residence, as well as satisfaction with life in general. Further thematic analysis of the qualitative study revealed further conceptualisations of personalisation, which together form an umbrella concept called transformability.
Research limitations/implications
The findings underscore the need for embedding flexibility as an architectural concept in the design of residential buildings for improving the well-being of occupants.
Originality/value
The design of homes has a great impact on inhabitants’ psychological well-being. This is becoming of greater importance in light of the global COVID-19 pandemic that has led to an increase in the amount of time spent in homes. This research contributes to this debate by proposing concepts for a deeper understanding of architectural influences on the psychology of the home.
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Ridwan Adetunji Raji, Bahtiar Mohamad and Sumera Memon
The fundamental mission of every green city is to harmonize urban living with environmental preservation. However, a critical challenge arises when the residents of such cities do…
Abstract
Purpose
The fundamental mission of every green city is to harmonize urban living with environmental preservation. However, a critical challenge arises when the residents of such cities do not share the same level of environmental consciousness, potentially eroding the integrity of the green city’s brand identity. Hence, this study aims to explore the factors influencing residents’ identification with green city branding and assesses how this identification subsequently affects their green citizenship behaviors.
Design/methodology/approach
A survey of 1,217 residents from 15 green cities across six countries was conducted and analyzed using SPSS 28.0 for descriptive statistics and PLS-SEM for measurement and structural model analysis.
Findings
The results indicate that green city-self connection, green city distinctiveness and environmental benefits significantly impact GCRI, which, in turn, significantly influences green city protection, loyalty and advocacy behaviors. However, green city social and economic benefits did not affect resident identification.
Practical implications
The results of this study provide valuable managerial insights for city brand managers, green city developers and governmental representatives. The study underscores the importance of considering residents as crucial internal stakeholders in the creation of a green city identity that effectively promotes sustainable urban living and an eco-friendly culture.
Originality/value
This study provides theoretical insights into the relationship between green identification and residents’ willingness and commitment to act as ambassadors and promote their city’s green values.
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Shin-pei Fu and Hikaru Komatsu
The current education paradigm is often criticized for fostering human dependence and failing to reduce environmental impacts. This has led researchers to propose alternative…
Abstract
Purpose
The current education paradigm is often criticized for fostering human dependence and failing to reduce environmental impacts. This has led researchers to propose alternative approaches. One alternative approach, place-based education, integrates a specific location’s natural and social context into learning experiences. By deepening students’ connection to their surroundings, place-based environmental education aims to enhance students’ sense of interdependence with a place and their place attachment in cognitive and affective dimensions. While widely practiced, its effectiveness remains largely unevaluated, particularly in the East Asian context. The gap hinders the development of impactful pedagogical approaches for educators.
Design/methodology/approach
The authors examine a river environmental education program located upstream of Taiwan’s capital, offering a valuable case study within the East Asian context. The program’s design is analyzed, and its impact on enhancing students’ place attachment is assessed through a pre- and post-survey approach.
Findings
The results indicate a substantial increase in students’ place attachment following program participation, particularly pronounced among children with limited prior experience with the river. Importantly, this increase is comparable to or exceeds those observed in similar studies from other regions.
Originality/value
The considerable increase in place attachment observed in this program demonstrates its effectiveness in fostering environmental connections, particularly among children with limited prior experience. The magnitude of the increase might be partially attributable to the interdependent orientation of Taiwanese culture. This suggests that place-based education might yield significant positive outcomes in other non-Western countries with strong interdependent cultural orientations.
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Hesam Ketabdari, Amir Saedi Daryan, Nemat Hassani and Mohammad Safi
In this paper, the seismic behavior of the gusset plate moment connection (GPMC) exposed to the post-earthquake fire (PEF) is investigated.
Abstract
Purpose
In this paper, the seismic behavior of the gusset plate moment connection (GPMC) exposed to the post-earthquake fire (PEF) is investigated.
Design/methodology/approach
For this purpose, for the sake of verification, first, a numerical model is built using ABAQUS software and then exposed to earthquakes and high temperatures. Afterward, the effects of a series of parameters, such as gusset plate thickness, gap width, steel grade, vertical load value and presence of the stiffeners, are evaluated on the behavior of the connection in the PEF conditions.
Findings
Based on the results obtained from the parametric study, all parameters effectively played a role against the seismic loads, although, when exposed to fire, it was found that the vertical load value and presence of the stiffener revealed a great contribution and the other parameters could not significantly affect the connection performance. Finally, to develop the modeling and further study the performance of the connection, the 4 and 8-story frames are subjected to 11 accelerograms and 3 different fire scenarios. The findings demonstrate that high temperatures impose rotations on the structure, such that the story drifts were changed compared to the post-earthquake drift values.
Originality/value
The obtained results can be used by engineers to design the GPMC for the combined action of earthquake and fire.
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Kashika Arora and Areej Aftab Siddique
The focus is on determining the long-term relationship in explaining how technological capabilities interact with trade and global value chain (GVC) participation to aid in the…
Abstract
Purpose
The focus is on determining the long-term relationship in explaining how technological capabilities interact with trade and global value chain (GVC) participation to aid in the upgradation process using a panel auto-regressive distributed lag (ARDL) model. The results suggest that export of both low-skill and medium-skill technology-intensive manufactures and patents by residents positively and significantly impact GVC participation.
Design/methodology/approach
This paper examines the dynamic linkages between GVC participation and technological capability of major Asian countries in a comparative (1995–2018) perspective.
Findings
This implies that certain sectors enable greater integration into GVCs in the long-run, supported by critical learning variables. Further, with the help of the panel causality test, a bi-directional flow between GVC participation and export of high-technology manufactures and import of labour-intensive technology manufactures is witnessed. Even a one-way flow from research and development (R&D) intensity to GVC participation is seen.
Originality/value
The technological capabilities are found to be characterising the initial structure of local enterprises in trade and GVCs, as well as the extent to which emerging-market firms may harness knowledge flows and migrate into high-tech industries.