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Drawing on the international business and game theory literature, this study assesses foreign firm treatment in the early stages of regulatory enforcement.

Treating regulation intensity as an exposure variable, negative binomial regression models were applied to firm-level data from 32 emerging markets (n = 15,331) to identify the determinants of inspection interactions. Robustness checks also were performed via variable substitutions for several predictors and an alternative form of statistical testing (i.e. Tobit regression, since it arguably better addresses dependent variables with corner solution responses).

Controlling for multiple organizational, regulatory and national characteristics, the findings are consistent with a foreign privilege, manifesting in reduced vulnerability to multiple encounters with labor inspection officials. Moreover, inward FDI stock was negatively related to the general probability of repeat interactions regardless of locus of ownership, an effect that was not moderated by stage of development or the regulatory influence of host interest groups. This collectively suggests that foreign firms not only are favored in compliance monitoring but also work post-entry to influence agencies to generally benefit business.

More comprehensive assessments were precluded given the lack of information on reasons for contact, citations and fines, and inspectorate reactions to company responses. Second, enforcement-risk management was measured indirectly since investors' internal dealings and actions toward officials are unavailable in secondary sources.

These findings have important implications for social responsibility, suggesting CSR stakeholders need to track enforcement more closely and exert pressure where needed so rights are not sacrificed for economic development.

This study provides the most rigorous assessment to date of the role that firm, government and economic factors play in national inspection targeting. It also examined whether foreign owners pool and leverage their political influence to impact general inspection activity, a previously untested prospect.

Intumescent coatings are nowadays a dominant passive system used to protect structural materials in case of fire. Due to their reactive swelling behaviour, intumescent coatings are particularly complex materials to be modelled and predicted, which can be extremely useful especially for performance-based fire safety designs. In addition, many parameters influence their performance, and this challenges the definition and quantification of their material properties. Several approaches and models of various complexities are proposed in the literature, and they are reviewed and analysed in a critical literature review.

Analytical, finite-difference and finite-element methods for modelling intumescent coatings are compared, followed by the definition and quantification of the main physical, thermal, and optical properties of intumescent coatings: swelled thickness, thermal conductivity and resistance, density, specific heat capacity, and emissivity/absorptivity.

The study highlights the scarce consideration of key influencing factors on the material properties, and the tendency to simplify the problem into effective thermo-physical properties, such as effective thermal conductivity. As a conclusion, the literature review underlines the lack of homogenisation of modelling approaches and material properties, as well as the need for a universal modelling method that can generally simulate the performance of intumescent coatings, combine the large amount of published experimental data, and reliably produce fire-safe performance-based designs.

Due to their limited applicability, high complexity and little comparability, the presented literature review does not focus on analysing and comparing different multi-component models, constituted of many model-specific input parameters. On the contrary, the presented literature review compares various approaches, models and thermo-physical properties which primarily focusses on solving the heat transfer problem through swelling intumescent systems.

The presented literature review analyses and discusses the various modelling approaches to describe and predict the behaviour of swelling intumescent coatings as fire protection for structural materials. Due to the vast variety of available commercial products and potential testing conditions, these data are rarely compared and combined to achieve an overall understanding on the response of intumescent coatings as fire protection measure. The study highlights the lack of information and homogenisation of various modelling approaches, and it underlines the research needs about several aspects related to the intumescent coating behaviour modelling, also providing some useful suggestions for future studies.

To examine objective measures of economic job quality for a broad sample of workers in the US spectator sports industry and compare job quality in spectator sports to other industries.

Logistic and linear regressions are performed on American Community Survey (ACS) data collected from 2015 to 2019. Earnings and employer provision of health insurance are the outcomes.

Earnings and employer-provided health insurance are lower in the spectator sports industry than in other industries after controlling for relevant factors. Differences are partly explained by the occupational composition of the industry and the higher incidence of part-time work. Many but not all occupational groups have lower earnings and less employer-provided health insurance in sports.

ACS data only reports one job, so the results likely underestimate the prevalence of part-time work in the US spectator sports industry. The study finds support for a micro-class occupational composition effect and a pulsating organization effect. Some support is also found for a sports industry compensating wage differential, but the effect is not industry wide, counter to some depictions.

This is the first study to examine objective, economic measures of job quality across all occupational sub-groups in the sports industry. This is the first study to propose theoretical explanations for poor economic job quality in sport.

Given resource constraints such as time and staffing, hotels cannot respond to all negative online reviews (NORs). Therefore, this study investigates (1) what types of NORs hotels should prioritize responding; and (2) what response strategies are more effective in handling different types of NORs to minimize the negative ramifications.

Four experiments in the context of hospitability were used to test the hypotheses.

Our findings show that NORs with implicit conclusions (e.g. “I do not believe that is a good choice, you know what I mean.”) are more dissuasive than NORs with explicit ones (e.g. “Do not buy it.”) because the former NORs are perceived as more objective than the latter NORs. More importantly, our results show that firms do not need to respond to explicit NORs. When responding to implicit NORs, firms should prioritize those related to service failures caused by external (e.g. weather, technological misfunction) rather than internal (e.g. poor management, employee skills) factors.

Our studies focus on the language styles of Chinese NORs, and future research should investigate how language styles influence dissuasion in other languages.

Our results show that NORs with implicit conclusions negatively impact consumer attitude and thus hurt performance more significantly than those with explicit conclusions. Therefore, firms should allocate limited staffing and resources to NORs with implicit conclusions. When responding to implicit NORs, firms should select NORs that can be attributed to external factors.

Our findings shed light on the importance of the language styles of NORs and provide marketers with insights into how to handle NORs. Our results reveal that consumers perceive higher objectivity of NORs when these reviews are implicit than when they are explicit. Furthermore, this study contributes to the online review literature by suggesting that firms should tailor their response strategies for NORs based on the reviewers’ language styles.

Ambidexterity has become essential for organisations to remain competitive. Thus, the purpose of this study is to investigate the causal relationships among information technology resources, absorptive capacity and individual ambidexterity. Further, this study examines the moderating role of social interaction in the absorptive capacity–individual ambidexterity relationship.

A quantitative approach was used in this study through analysis of survey data from 475 employees in the Iraqi telecommunications sector. Structural equation modelling with AMOS was used to test the proposed hypotheses.

This study noted a positive relationship among information technology resources, absorptive capacity and individual ambidexterity. The results of this study also showed that individuals with a higher degree of social interaction were more likely to strengthen the association between absorptive capacity and individual ambidexterity.

The results indicate that managers should pay attention to the important relationship between IT resources, absorptive capacity and individual ambidexterity in the Iraqi telecommunications firms. It is also suggested to design strategies to promote social interaction among their employees and facilitate cooperation and information transfer.

This study shows that information technology has influence on absorptive capacity and individual ambidexterity and argues the importance of social interaction as a boundary condition on absorptive capacity and individual ambidexterity relationship for telecommunications firms in Iraq a context that neglected in previous studies.

This paper aims to explore the key risk factors affecting the Personnel Localization Management of international construction projects under the major public emergencies represented by the novel coronavirus pneumonia pandemic (hereinafter COVID-19) and how the public emergency affected the Personnel Localization Management from three levels: staff turnover rate, the number of different personnel, the salary and performance of workers. The paper also helps to enhance the construction enterprises' response capacity of major public emergencies and provides a comprehensive framework of optimization strategies for the Personnel Localization Management of international construction projects (hereinafter projects).

The main research method of this paper is the case study, and ten representative international construction projects are selected for case study in China construction enterprises (hereinafter CCE). And this study used the failure mode and effects analysis (FMEA) and comparative analysis to find out all potential risk factors under the COVID-19 and analyze how the epidemic affects the Personnel Localization Management of projects which based on the primary data from 10 projects obtained through in-depth interviews and the secondary data from China First Metallurgical Group and Central South Construction Group's Overseas Enterprise.

The findings show that the outbreak of the major public emergencies not only greatly increased eight risk factors but also directly led to an increase in staff turnover rate. Meanwhile, the numbers of Chinese and local managers and workers are all affected, and an increase in the number and the salary performance of local workers can be reduced, to a certain extent, to the cost-to-output ratio of the projects. The findings would help construction enterprises better cope with Personnel Localization Management and enhance the response capacity of major public emergencies.

This study will broaden researchers' horizons regarding “Personnel Localization Management under major public emergencies” and “risk factors of Personnel Localization Management in an international context.” Furthermore, construction enterprises looking for a better mechanism of Personnel Localization Management can benefit from research findings and lessons learned from the authors' case study during or before an outbreak of major public emergency. Lastly, the framework of optimization strategies for Personnel Localization Management can be used both for research purposes and practice issues in international construction projects.

The findings from the authors' case study offer the direction for international construction enterprises in China and other countries to formulate effective measures, strengthen overseas business and establish a crisis management mechanism for Personnel Localization Management under major public emergencies, and the findings provide emergency plans for projects to improve the public crisis handling capacity and respond to major public emergencies such as the COVID-19.

This study analyzes the impact of the COVID-19 on the Personnel Localization Management of international construction projects from the perspective of personnel. This study provides a theoretical reference for the international construction industry to actively respond to major public emergencies. Besides, the research is conducive to improving the emergency response mechanism in the construction industry, and further promoting the high-quality and globalized development of international construction.

This study provides other researchers with a comprehensive understanding of the risk factors affecting the Personnel Localization Management of projects under the COVID-19 and insight for further research on localization management, risk management, and project management.

This study examines how high-performance work practices (HPWPs) influence organizational citizenship behaviour (OCB) and the mediating role of employee affective commitment (AC) in this relationship in a non-Western context such as India.

The study uses a survey research design. Taking a sample of 503 employees of a large manufacturing organization in India, the primary data are analysed using confirmatory factor analysis (CFA) and Andrew Hayes' PROCESS macro.

The findings indicate that employee perceptions of HPWPs positively relate to OCB. The mediating role of employee AC in the relationship is also found. These findings imply that positive perceptions of employees towards HPWPs create AC in employees and which, in turn, results in OCB.

The study focuses on a single organization, which limits its generalizability and recommends future researchers to conduct a broad-based study. The study is also limited by its research design and cross-sectional data for establishing causality on a firmer footing.

The study examines the influence of HPWPs on OCB with AC as a mediating variable in a non-Western setting such as India and makes a departure from the earlier ones in that it considers perceptions of employees towards HPWPs rather than managerial reporting of their actual use. Findings of the research take the debate a step further in understanding the mechanism of the relationship.

The purpose of this paper is to empirically test the economic convergence that operate between five selected Asian countries (namely Thailand, Singapore, Malaysia, the Philippines and Indonesia). In particular, it seeks to investigate how increased economic integration has impacted the inter-country income levels among the five founding members of ASEAN.

A new Machine Learning (ML) approach is applied along with a panel data analysis (GMM), and the application of KOF Globalization Index.

The Generalized Method of Moments (GMM) results highlight that the endogenous growth theory seems to be supported for the selected Asian countries, indicating evidence of diverging forces resulting from unequal growth and polarization dynamics. Overcoming the technical issues raised by the econometric approach, the new ML algorithm brings contrasted but interesting results. Using the KOF Globalization Index, the authors confirm how the last phase of globalization set the conditions for an economic convergence among sample members.

Using the KOF Globalization Index, the authors confirm how the last phase of globalization set the conditions for an economic convergence among sample members. As a matter of fact, the new LSTM algorithm has provided consistent evidence supporting the existence of converging forces. In fact, the results highlighted the effectiveness of the experiments and the algorithm we chose. The high predictability of the authors’ model and the absence of self-alignment in the values showed a convergence be-tween the economies.

Building on encapsulated interest account and motivated cognition account, this study aims to investigate how channel members extend trust in a channel leader when the channel leader applies various non-coercive power sources (e.g. referent, expert, legitimate and reward power). Besides, the study explored the changes in channel members’ trust in a channel leader when each non-coercive power source is coupled with coercive power sources.

Using survey items from previously validated scales, the study collected responses from 237 channel members of 3 paint distribution channels in India. Data were analysed using structural equation modelling and multi-group moderation analysis techniques.

Findings indicated that expert and reward power sources enhance trust in channel leaders while affective commitment mediates the effects of all the non-coercive power sources on trust. Further, coercive power weakens the effects of expert power on trust.

The study is based on a cross-sectional survey and confines to the paint industry in India. Replicating this study in other countries and industries will better generalise the study’s findings.

The study recommends that channel managers use power sources to build trust in channel leaders. Consequently, they will be able to emphasise those specific power sources while developing channel management strategies.

The study contributes to a greater understanding of the power-trust relationship.

As self-service technologies (SSTs) become more prevalent, service providers are actively encouraging customers’ involvement with these technologies, sometimes even forcing their customers to use SSTs. This paper aims to examine the influence of the SST-only (vs full-service) mode on customers’ negative attitude toward SST providers through the mediating mechanism of powerlessness and explores how SST familiarity and SST anthropomorphism moderate the impacts of the SST-only mode on powerlessness.

Three experiments were performed, study 1 tested the main and mediating effect and studies 2 and 3 verified the moderating effects.

The results suggest that customer perceived powerlessness mediates the relationship between SST-only (vs full-service) mode and negative attitude toward SST providers. When the levels of SST familiarity and SST anthropomorphism are high, the impacts of SST-only on powerlessness are attenuated. Alternative mediating mechanism of powerlessness is examined and ruled out.

Future research should investigate other moderators that may reduce the impacts of SST on customer powerlessness. These moderators could be service-operating procedures, SST interface design, types of service situations and customer characteristics. In addition, other consequences of powerlessness, other than the negative attitude toward SST providers and intention to switch investigated here, should be investigated as well.

This research provides guidelines helping service providers to improve their customers’ SST usage experience by showing both SST familiarity and SST anthropomorphism may alleviate the negative effects of SST-only mode on customer perceived powerlessness more effectively.

This research examines the role of customers’ psychological reactions toward the SST-only mode, particularly from the perspective of power and control.

Recognising the shortage of research investigating the effect of individual characteristics in cross-border entrepreneurship, this study models the dimensions of personal values as predictors of international entrepreneurship. Also, noting the paucity of evidence on the influence of ethnicity and gender in the personal values and international entrepreneurship nexus, the study undertakes a multi-group analysis to clarify the moderating effects of these social antecedents in the context of Mauritius.

Cross-sectional data from Mauritius is examined using a sample of 504 students spread across six universities. The analysis takes a structural equation modelling approach.

The results show that, comparing the distinct personal values dimensions, international entrepreneurship has a positive association with self-enhancement and openness to change. Furthermore, it has a non-significant relationship with self-transcendence and a negative connection with conservation. Also, the multi-group analyses revealed significant differences in the individual correlations across gender and ethnic categories.

Building on emerging empirical interest in the literature, this study presents novel evidence of the link between personal values and international entrepreneurial intention in the context of Mauritius. Additionally, examining the moderating influence of ethnicity and gender in the personal values, international entrepreneurship nexus advances current literature. On a practical level, the study offers insights to universities and other stakeholders tasked with nurturing international entrepreneurial behaviour among students to contemplate personal and social antecedents and, accordingly, adapt their entrepreneurship pedagogy.

Although the importance of green supplier integration (GSI) has been recognized, the knowledge of how it can be enhanced is still limited. Using insights from transaction cost and resource dependence theories, this paper aims to explore how to balance coercive and non-coercive powers to enhance GSI and the mediating role of relationship commitment and the moderating role of relationship closeness.

To validate the hypotheses, this study conducted hierarchical regression analysis and bootstrapping using the survey data collected from 206 Chinese manufacturers.

The results indicate that coercive power undermines normative commitment, while non-coercive power promotes normative and instrumental commitments. Both normative and instrumental commitments enhance GSI. Normative commitment mediates the impacts of coercive and non-coercive powers on GSI, while instrumental commitment only mediates the impact of non-coercive power on GSI. Moreover, supplier trust and dependence negatively moderate the positive link between instrumental commitment and GSI.

Executives should carefully balance coercive and non-coercive powers to encourage firms to maintain good relationships with suppliers and develop common environmental values under different mediating effects of normative and instrumental commitments. However, they should also be aware that high level of trust and dependence can affect the impacts of powers.

This study contributes to GSI literature by opening the “black box” between power and GSI and verifying its boundary conditions.

Currently, the issues of cross-channel integration (CCI) have become the attentive focus. However, little research based on institutional theory details the drivers of and obstacles to adopt CCI strategy. Combined with resource-based view (RBV) and institutional theory, this thesis studies the effect of institutional pressures on the manufactures' extent of CCI, through exploring the moderating effects of firm's technology competence and relationship governance capabilities on the relationship between institutional pressures and the extent of CCI.

The survey data of 249 valid research samples were obtained from Chinese manufacturing enterprises. Statistical software such as SPSS 22.0 and AMOS 18.0 was used to analyze the data and test the conceptual model and relevant research hypotheses from an empirical perspective.

The results of empirical study from 249 manufacturers indicate that the mimetic, coercive and normative pressures perceived by enterprises can significantly promote their extent of CCI; relationship governance capabilities attenuate the positive impact of mimetic pressures on the extent of CCI, but strengthen that of normative pressures on the extent of CCI; besides, technology competence can attenuate the positive effect of mimetic pressures on the extent of CCI, but enhance that of normative pressures on the extent of CCI.

Few studied the impact of the interaction of internal capabilities and external institutional pressures on CCI of enterprises. This study combines institutional theory and resource-based view to fill the theoretical gap in this regard.

The purpose of this study is to address the following research questions: How do customer input and service provider (in this study, the terms firm and service provider are used interchangeably) input coproduce customer experience and response? Do different components of customer input influence customer experience differently?

Structural equation modeling (SEM) was adopted to conduct tests of the measurement model and the main hypotheses represented in Figure 1. LISREL 8.80 (Jöreskog and Sörbom, 1993) was applied for data analysis in the current study. A survey instrument was designed and used to gather data for use in this study. Data were collected using an online survey administration tool (www.qualtrics.com).

The results indicate that two dimensions of customer participation – information resource and codeveloper activities – demonstrate distinct impacts on customers’ responses. Specifically, customer participation (information resource) is negatively related to customer shopping values and satisfaction. However, another dimension of customer participation (codeveloper activities) is positively related to the same outcomes.

To the best of the authors’ knowledge, this study is among the first to integrate customer participation and customer orientation to understand the phenomenon of customer co-creation. The study applies for a two-dimensional customer input construct and empirically tests their impacts on customer experience. Both utilitarian value and hedonic value are included in the research framework to assess customer value experience.

Today’s society interest in mobile photography drives consumers’ and brands’ growing usage of Instagram. This paper aims to address the consequences of excessive use of Instagram on the negative feeling of losing information when not connected and the emotional fatigue resulting from an overcharge with new information. The mediating role of addiction between Instagram overuse and the two outcomes is also analyzed.

Data from 342 active Instagram users were used to test the proposed model, applying the partial least square equation modeling method (SmartPLS 3).

Addiction partially mediates the impact of overuse on emotional fatigue and instastress. Addiction to Instagram was mainly due to respondents’ lack of control over the time spent on it resulting in incapability to reduce its usage.

Social networking site managers, educators, families and public institutions should promote an adequate use of Instagram, making users (especially the young) aware of the potential threats of its excessive usage. The control on the amount of time devoted to Instagram is a key factor for detaining overuse and addiction, as well as avoiding the negative outcomes analyzed in this research.

The findings contribute to the extant knowledge on the negative side of the digitization of the individual, as little is known about it to the best of the authors’ knowledge.

La presente investigación aborda las consecuencias del uso excesivo de Instagram relacionadas con el sentimiento negativo de pérdida de información, cuando no se está conectado, y la fatiga emocional derivada de la sobrecarga de información. El estudio también analiza el papel mediador de la adicción entre el uso excesivo de Instagram y ambas consecuencias.

Para testar el modelo propuesto se utilizó información de 342 usuarios activos de Instagram, aplicándose el método de ecuaciones estructurales por mínimos cuadrados parciales (SmartPLS 3).

La adicción media parcialmente el impacto que el uso excesivo de Instagram tiene sobre (i) la fatiga emocional y (ii) el Instastress. La adicción a Instagram se deriva principalmente de la falta de control del tiempo invertido en su uso, lo que da como resultado su incapacidad para reducir dicho uso.

Los responsables de los medios sociales, los educadores, las familias y las instituciones públicas deberían promover un uso adecuado de Instagram, haciendo que los usuarios (especialmente los más jóvenes) sean conscientes de las amenazas potenciales de su uso excesivo. El control sobre la cantidad de tiempo dedicado a Instagram es un factor clave para detener el uso excesivo y la adicción, así como para evitar los resultados negativos analizados en esta investigación.

Los resultados contribuyen a ampliar el conocimiento sobre el lado negativo de la digitalización del individuo, dada la escasa literatura al respecto.

Adicción, Uso excesivo, Instastress, Fatiga emocional, Redes sociales, Instagram

Artículo de investigación

The purpose of this paper is to investigate the factors that are significant in contributing to the per capita income growth of countries that are experiencing or have experienced the lower-middle and upper-middle income traps.

The study comprises 85 countries over the period 1960 to 2017 spanning across three income groups: lower-middle, upper-middle and high. A panel data structure was used to run a fixed effect and random effect estimation on three models of income groups. The Hausman specification test, which was used for further statistical fitness, confirmed the appropriateness of fixed effect over the random in explaining the estimation of factor variables.

The results show that unemployment is a pervasive problem that negatively affect countries at all income levels. Foreign direct investment and population of dependents are associated with economic progression of countries that have experienced or are experiencing the lower-middle income trap. Furthermore, rising income inequality and foreign aid assistance are detrimental to countries that have experienced or are experiencing the upper-middle income trap. Moreover, income inequality, disproportionate urban population and rising dependent population are damaging for high income countries that never experienced any of the middle-income traps. Conversely, openness to trade, inflation and exchange rate volatility had limited capacity in explaining growth dynamics.

This study could not incorporate geopolitical, demographic, geographical and other such exogenous factors, which could have episodes of influences on the economic development of countries. These were outside the study's realm of quantitative analysis.

This paper contributes to existing literature by providing an empirical cross-sectional comparative analysis of countries belonging to different income groups. The prevailing literature lacks such a cross-tabulated presentation of factors affecting countries that avoided the middle income trap and those that could not.

The purpose of this paper is to conduct a survey on research in fabric and cloth simulation using mass spring model. Also in this paper some of the common methods in process of fabric simulation in mass spring model are discussed and compared.

This paper reviews and compares presented mesh types in mass spring model, forces applied on model, super elastic effect and ways to settle the super elasticity problem, numerical integration methods for solving equations, collision detection and its response. Some of common methods in fabric simulation are compared to each other. And by using examples of fabric simulation, advantages and limitations of each technique are mentioned.

Mass spring method is a fast and flexible technique with high ability to simulate fabric behavior in real time with different environmental conditions. Mass spring model has more accuracy than geometrical models and also it is faster than other physical modeling.

In the edge of digital, fabric simulation technology has been considered into many fields. 3D fabric simulation is complex and its implementation requires knowledge in different fields such as textile engineering, computer engineering and mechanical engineering. Several methods have been presented for fabric simulation such as physical and geometrical models. Mass spring model, the typical physically based method, is one of the methods for fabric simulation which widely considered by researchers.

In capital market, share prices of listed companies generally respond to accounting information. In 1995, Ohlson proposed a share valuation model based on two accounting indicators: company residual income and book value of net asset. In 2000, Zhang introduced the thought of option pricing and developed a new accounting valuation model. The purpose of this paper is to investigate the valuation deviation and the influence of some market transaction characteristics on pricing models.

The authors use listed companies from 1999 to 2013 as samples, and conduct comparative analysis with multiple regression.

The main findings are: first, the accounting valuation model is applicable to the capital market as a whole, and its pricing effect increases as years go by; second, in the environment of out capital market, the maturity of investors is one of important factors that causes the information content of residual income less than that of profit per share and lower pricing effect of valuation models; third, when the price earning (PE) of listed companies reaches certain level, the overall explanation capacity of accounting valuation models will become lower as PE gets higher; fourth, as for companies with higher turnover rate and more active transaction, the pricing effect of accounting valuation model is obviously lower; fifth, the pricing effect of accounting valuation models in a bull market is lower than in a bear market.

These findings establish connection between accounting valuation and market transaction characteristics providing an explorable orientation for the future development of accounting valuation theories and models.

This study aims to extend prior studies by examining the mediation effects of sticker shock on the relationship between price discount and buying intention. Sticker shock refers to the discrepancy between a brand’s sale price (SP) and an individual’s internal reference price (IRP) (Winer 1985).

Prior marketing research on sticker shock is primarily model-based. The authors employed a between-subject experimental design, and hypotheses were tested using a series of regression functions (Baron and Kenny 1986).

The results suggest the effect of price discount on buying intention is partially mediated by sticker shock.

The research results suggest that consumers take into account price messages from different sources, such as advertised reference price, SP and IRP. IRP is a key reference point that consumers use to develop the “gain” or “loss” perception. Firms may apply different strategies to influence consumers’ internal reference point and, in turn, influence the perception of the attractiveness of the sale product.

This study contributes to the literature by first testing the mediation effects of sticker shock on the relationship between price discount and buying intention.

The purpose of this paper is to examine the relationship between financial development indicators and human development in India using annual data from 1980-2012.

The Ng-Perron unit root test is used to check for the order of integration of the variables. The long run relationship and short run dynamics are examined by implementing the ARDL bounds testing approach to co-integration. Granger’s non-causality test and variance decomposition techniques are also used to examine the impact of financial development indicators on human development.

The results confirm a long run relationship among the variables. The results of granger non causality indicate that unidirectional causality runs from financial development indicators to human development index (HDI). The variance decomposition analysis shows that among all the financial indicators, broad money supply (M3) has the largest contribution to changes in human development in India.

The present study recommends for appropriate reforms in financial market to attain sustainable human development in India. The findings will be useful for India’s policy makers, in order to maintain the parallel expansion of financial development and human development.

This paper is first of its kind to empirically examine the casual relationship between financial development indicators and human capital development proxied by HDI in India by using modern econometric techniques.