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Building on performance feedback and threat-rigidity theories, this study aims to argue that environmental performance shortfalls are powerful motivators for shaping green innovation strategies. To examine our argument, this study extends the theoretical logic to organizational ambidexterity and examines green exploitation and exploration innovation and relative green ambidexterity as organizational responses to environmental performance shortfalls. This study addresses how environmental performance shortfalls affect the implementation of green exploitation and exploration innovation and relative green ambidexterity and how this chosen green innovation strategy affects corporate environmental performance.

The authors test their theory using 145 sample firms’ environmental performance data spanning 2015 to 2021 and conduct a content analysis of their 697 sustainability reports spanning 2017 to 2021.

This paper finds that environmental performance shortfalls positively affect green exploitation innovation and relative green exploitation innovation and negatively affect green exploration innovation and relative green exploration innovation. It also finds that green exploration innovation and relative green exploration innovation positively affect environmental performance but that green exploitation innovation and relative green exploitation innovation negatively affect environmental performance.

The findings support the premise that environmental performance feedback guides the direction of strategic choices and actions related to green innovation and confirm the decisive role of green exploration innovation in improving environmental performance. This study augments performance feedback, threat-rigidity and organizational ambidexterity theories in the environmental management context.

This study explores young consumers' motivations for purchasing Virtual Luxury Non-Fungible Token Wearables (VL-NFTs) from luxury brands, which are virtually crafted luxury wearables minted as blockchain-based NFTs. Specifically, it investigates the relationships among consumers' perceived value of VL-NFTs, engagement with NFTs and purchase intention and the mediating effect of consumer engagement with NFTs.

Data were collected via an online survey of 504 young US consumers who had previously considered purchasing luxury fashion products and NFTs. Structural equation modelling was adopted for analysis.

Perceived economic, functional (uniqueness) and experiential (self-directed pleasure and affiliation) values of VL-NFTs directly influenced consumers' purchase intention. While symbolic value (self-presentation and conspicuousness) did not significantly influence purchase intention, it facilitated consumer engagement with NFTs. Moreover, consumer engagement mediated the relationship between economic and functional values and purchase intention.

The sample was only comprised of young consumers, limiting the generalizability. Additionally, consumers may perceive VL-NFTs differently because of differences in past experiences and the varying VL-NFT types, necessitating further investigation on consumers' motivations across different types of VL-NFTs.

This study contributes to the existing literature by examining the importance of multifaceted perceived-value dimensions and engagement with NFTs in consumers' motivation for purchasing VL-NFTs through the lens of the customer value framework.

This study aims to examine the nexus between digital financial literacy and customers’ perceived financial behavior within the Kuwaiti context. Moreover, it will further explore how digital financial literacy relates to financial behavior dimensions.

Data collection was facilitated by creating a questionnaire derived from multiple literature sources. This study used a cross-sectional, time-based dimension. Data was analyzed using the partial least square (PLS) structural equation modeling approach, using the Smart-PLS 4 software for computation.

Findings demonstrated a significant relationship between digital financial literacy and financial behavior, with a path coefficient of 0.542, a p-value of 0.000 and an R² value of 0.581. The explorative model revealed substantial relationships between many dimensions of digital financial literacy and various dimensions of financial behavior. More precisely, financial knowledge, awareness and decision-making were the factors that had the most significant impact on financial behavior.

Kuwaiti policymakers should consider including digital financial literacy programs in comprehensive financial education programs to improve public understanding of digital financial instruments and their consequences.

As the authors know, this is the initial endeavor to evaluate the relationship between digital financial literacy, financial behavior and their respective dimensions.

This study uses data from the National Financial Capability Study to examine the financial vulnerability of Asian American and Pacific Islander (AAPI) adults relative to that of other major racial/ethnic groups in the United States across the past decade and within the AAPI population, examining how vulnerability varied across AAPI adults of East Asian, South Asian, Southeast Asian, and Pacific Islander heritage.

The study uses four waves (2012, 2015, 2018 and 2021) of the State-by-State National Financial Capability Study (NFCS) and the 2021 NFCS AAPI Oversample dataset. Financial vulnerability was estimated using five binary indicators: (1) An inability to come up with $2,000, (2) An experience of overdraw, (3) A lack of emergency fund savings, (4) Difficulty paying bills and expenses, and (5) Credit card revolving. A financial vulnerability index was also created using the binary indicators. Logistic regression analyses were conducted on binary indicators and an OLS regression was additionally conducted on the aggregated financial vulnerability index.

Results show that, overall, AAPI respondents reported the lowest levels of financial vulnerability relative to White respondents, Black respondents, Hispanic respondents, and those of another race or ethnicity. However, using the 2021 datasets, we found that within the AAPI population, financial vulnerability varied widely by heritage, with those of East Asian heritage reporting less vulnerability than AAPI adults of other studied heritage groups.

These results provide insights into the financial well-being of AAPI households, particularly amidst the COVID-19 pandemic, and present initial evidence of the significant disparities that exist within this heterogenous community. This study provides valuable insights for researchers, educators, policymakers, and financial practitioners.

Around the globe, low retirement savings threaten the economic well-being of large portions of the population. To better understand what promotes retirement sufficiency, we investigate variables that correlate with retirement savings behaviors.

Using the 2021 National Financial Capability Study data, we examine factors correlated with having a retirement plan, contributing to a retirement plan and avoiding the depletion of retirement savings.

While strong financial behavior and actual financial literacy are each connected to retirement plan participation, the link attributed to strong financial behavior is nearly twice as strong as that for actual financial literacy. Strong financial behavior correlates strongly with leaving retirement savings in place. Having a financial literacy blind spot (i.e. not knowing that one does not know about financial literacy) correlates strongly with retirement savings depletion. Financial anxiety does not correlate with retirement plan participation or depletion.

Our measure of strong financial behavior explains much more variation in retirement savings than variables commonly explored in the retirement literature. Individuals facing income constraints without a financial literacy blind spot are less likely to deplete their retirement savings. Conversely, those with a financial literacy blind spot tend to deplete their retirement savings regardless of their financial vulnerability or strength. Our findings hold even when restricting the sample to households with incomes below the median ($75,000), as well as above the median, indicating that policies targeting non-income variables could enhance retirement outcomes.

Rainy-day savings have been an effective measure for maintaining financial stability in times of emergency. Motivated by the rapid expansion of cryptocurrencies, the present study examines how crypto investments could moderate the beneficial outcomes of rainy-day savings for alleviating financial anxiety during the most recent economic turbulence caused by the COVID-19 pandemic.

The present study carries out multivariate logistic regression with interaction effects on the most recent 2021 cohort data from the National Financial Capability Study (NFCS).

While rainy-day savings relate to less financial anxiety, the effect varies depending on whether an individual has invested in cryptocurrencies. Specifically, this paper finds that crypto investors experience less relief in financial anxiety from rainy-day savings than non-crypto investors. Additionally, crypto investors are more susceptible to financial stressors like job loss and financial fragility, likely due to the financial loss from investing in cryptocurrencies.

The findings highlight the necessity of implementing policies and regulations, such as the newly approved Markets in Crypto-Assets (MiCA) regulation, that could raise people’s awareness of the high-risk nature of cryptocurrencies as well as offering targeted financial education for crypto investors, especially during times of market downturn.

This is the first attempt to study how crypto investments may weaken the benefits of rainy-day savings in reducing financial anxiety. The findings offer new insights into the beneficial outcomes of rainy-day savings for emergencies in light of individual crypto investment backgrounds. Additionally, findings from the present study also contain important implications given the rapid expansion of the cryptocurrency market as well as future economic turbulence.

This study investigates the relationship between human values and saving behavior, focusing on both personal and cultural values.

The research utilizes data from the seventh wave of the World Values Survey (2017–2020) covering 67,278 respondents across 48 countries and the Hofstede Insights (2024). The study employs principal component analysis to validate the measurement of personal values and multilevel logit regression to explore the associations between personal (individual level) and cultural (country level) values and saving behavior.

The findings, grounded in the functional theory of values, indicate that individuals with personal values oriented toward individual goals and survival needs are more likely to save money, whereas those with values centered on social orientation and thriving needs are less inclined to save. On a cultural level, individualistic societies tend to save more, while countries with high levels of uncertainty avoidance are associated with lower saving behavior.

This study provides further evidence that human values are important components of household savings behavior. Policymakers and stakeholders interested in fostering saving behavior should be aware of the role played by personal and cultural values when designing impactful policies and interventions. This process might involve encouraging survival traits and reducing economic uncertainty.

This study provides a comprehensive analysis of how personal and cultural values shape saving behavior across different societies. It contributes to the literature by highlighting the interplay between individual and societal factors in financial decision-making.

This study examines the relationship between changes in retirement status and social support and their associations with the life satisfaction of older adults, with a focus on potential differences across income levels.

We analyzed various work-retirement pathways using retirement status data from two waves (2016 and 2018) of the biennial Health and Retirement Study. We examined the relationship between these pathways and life satisfaction, incorporating social support from close relationships, including those with a spouse or partner, children, immediate family members and friends. A subgroup analysis was performed based on household income levels.

The study found that completely or partially retired individuals reported higher life satisfaction than those who continued working. Those who had returned to work also experienced higher life satisfaction, particularly among the low-income group. Among the middle-income group, individuals transitioning toward retirement reported greater life satisfaction than those still working. Across all subgroups, closeness with a spouse or partner and having close friends were positively related to life satisfaction. However, a lack of close relationships with immediate family members was linked to lower life satisfaction in the low- and middle-income groups, though this was not found in the high-income group.

These findings have theoretical, policy, and practical implications for older populations, mainly retirees or those nearing retirement. The study suggests strategies to assist older adults in navigating diverse retirement pathways, such as fostering strong social connections and offering flexible or phased retirement programs to ease the transition.

This study aims to examine the influence of digital financial literacy (DFL) on the financial well-being (FWB) of students in Andhra Pradesh, specifically exploring the factors of impulsivity and self-control. Both DFL and FWB are treated as multi-dimensional constructs in the study. The research delves into the impact of DFL dimensions, viz. digital financial knowledge, digital financial experience and digital financial skills, on both impulsivity and self-control. Subsequently, the study assesses the effects of impulsivity and self-control on financial well-being.

To gather data, a questionnaire-based survey method was employed, reaching 475 university students through purposive sampling. The study utilizes confirmatory factor analysis for scale validation and structural equation modeling for hypothesis testing.

The results reveal a significantly negative influence of digital financial knowledge (DFK), digital financial experience (DFE) and digital financial skills (DFS) on impulsivity, while demonstrating a significantly positive impact on self-control. Additionally, the study finds that impulsivity negatively affects financial well-being, whereas self-control has a positive impact. Focusing on higher education institutions in Andhra Pradesh, the research highlights students’ limited concern for long-term financial planning.

This study underscores the relevance of understanding the crucial role of digital financial literacy in enhancing their financial well-being. The implications of these research findings are substantial and can be utilized to shape educational programs for students in higher education institutions. Such programs can guide institutions in imparting knowledge and skills related to personal finance management, particularly in the context of the increasing digitalization of financial transactions.

Virtual clothing presentation has a visual 3D effort and allows consumers to interact. Currently, most scholars make virtual clothing presentations as a whole or focus on one element to study its impact on consumers’ purchase intentions. This study disassembles the components of virtual clothing presentation in Taobao and explores how each component (virtual clothing, virtual model, presentation space, presentation technology and system quality) affects consumers’ purchase intention, which can provide clothing companies recommendations for developing it and help improve consumers’ online shopping experience.

This study created the parts of a virtual clothing presentation and took advantage of Taobao’s 3D interactive module to simulate a shopping scenario. Participants experienced a 3D interactive virtual clothing presentation in which they could change clothing colors, show actual clothing sizes, try different model poses, switch presentation backgrounds and unfold clothing structure through interactive buttons. Then they were randomly assigned to view two kinds of images and videos of experiment clothing (real images and videos vs virtual ones), respectively. Hypotheses were tested using SEM and applying SmartPLS 4.

The results demonstrated that five components of virtual clothing presentation have different degrees of influence on consumers’ purchase intention through different consumer perceptions (perceived usefulness, ease of use and enjoyment). It is necessary to consider the design of the virtual clothing presentation in those five dimensions for different needs. In addition, it is feasible to replace images and animated videos of real clothing with virtual ones in Taobao.

Different types of virtual clothing presentations can lead to various results in terms of diverse impacts. This study disassembles and researches each component of a virtual clothing presentation. Overall, this study could provide guidance and suggestions for clothing companies to develop and design or invest in virtual clothing presentations.