Blain Pearson and Thomas Korankye
This study examines the association between financial literacy confidence and financial satisfaction. The authors posit that overconfident poor performers will experience greater…
Abstract
Purpose
This study examines the association between financial literacy confidence and financial satisfaction. The authors posit that overconfident poor performers will experience greater levels of financial satisfaction and underconfident high performers will experience lower levels of financial satisfaction.
Design/methodology/approach
Based on the results of an objective financial literacy assessment and a subjective financial literacy assessment, variables measuring study participants' financial literacy overconfidence and financial literacy underconfidence are constructed. The variables are analyzed for their associations with financial satisfaction.
Findings
The results from the multivariate analysis suggest that financial literacy overconfidence (underconfidence) is associated positively (negatively) with higher levels of financial satisfaction and is associated negatively (positively) with lower levels of financial satisfaction.
Practical implications
The discussion first highlights that to increase objective financial literacy, the disconnect between subjective financial literacy assessment and objective financial literacy must be recognized. Secondly, the discussion encourages financial literacy and education programs to incorporate behavioral education, which can provide learners with an awareness of the role of financial literacy confidence when making financial decisions.
Originality/value
Financial literacy overconfidence can result in an inability to recognize the realities of one's financial situation. Individuals who are overconfident in their level of financial literacy preformed lower on an objective assessment of their financial literacy, yet also tended to have a greater sense of financial satisfaction. This finding not only suggests that financial literacy overconfidence results in financial ineptitude, but also suggest that financial literacy overconfidence can result in specious conclusions regarding one's financial situation. The financial literacy underconfidence finding suggests that those who are financial literate, and who are also underconfident in their financial literacy, are less likely to have high financial satisfaction.
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Thomas Korankye, Blain Pearson and Hossein Salehi
Although annuitization provides insurance against longevity risk that can benefit households, researchers have uncovered an annuitization puzzle, which suggests households are…
Abstract
Purpose
Although annuitization provides insurance against longevity risk that can benefit households, researchers have uncovered an annuitization puzzle, which suggests households are reluctant to annuitize their wealth. This study contributes to the discussions on the annuitization puzzle by examining investor sophistication and owning annuities in non-retirement accounts.
Design/methodology/approach
The study utilizes data from the 2018 U S National Financial Capability Study (NFCS). The empirical analyses are based on logistic regression estimates of annuity ownership on investor sophistication. Interpretations are based on odds ratios.
Findings
The findings indicate that investor sophistication contributes to the annuity puzzle. Investors with low objective and high subjective investment knowledge (overconfident investors) are more likely to own annuities compared to those with low objective and low subjective investment knowledge. However, investors with high objective and low subjective investment knowledge (under-confident investors) are less likely to choose annuity ownership compared to those with low objective and low subjective investment knowledge. The findings and ensuing discussion highlight the importance of annuitization when planning for retirement, with implications for financial service professionals.
Research limitations/implications
The measure of investor sophistication does not assess the difficulty level of each financial knowledge question. The questions used to construct the investor sophistication variable are based on general investment knowledge. In addition, the annuity ownership variable used in this study pertains to investments outside retirement accounts. Despite these limitations, the findings highlight the importance of annuitization when planning for retirement.
Originality/value
Unlike prior studies, the authors consider four mutually exclusive measures of investor sophistication constructed from measures of objective and subjective investment knowledge to understand the effect of investor sophistication on annuity ownership in the United States.
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One of the most well-known, seminal models in the tourism marketing field is the one proposed more than 40 years ago by Stanley Plog. His venturesomeness model has been widely…
Abstract
One of the most well-known, seminal models in the tourism marketing field is the one proposed more than 40 years ago by Stanley Plog. His venturesomeness model has been widely cited in journal articles, textbooks, and has also been used as a reference for planning and designing tourism marketing projects. However, empirical research on Plog’s psychographic model has yielded varied, inconclusive results, and the postulates of his conceptual framework are still subject to academic scrutiny. While some empirical investigations have corroborated the model, others have found partial or no support for it. Therefore, the purpose of this chapter is to offer an exhaustive review of 26 studies in the literature which have employed Plog´s venturesomeness concept to examine travellers’ personality traits, attitudes, and behaviour, as a way to synthetise empirical findings and draw conclusions from the cumulative results. A discussion of the model’s contribution to the current body of knowledge and managerial implications for tourism marketing practitioners are presented.
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Rupa Sinha, Azizul Hassan and Rahul Kumar Ghosh
Tourism industry has extensively embraced technologies to enhance operational competencies, service quality over and above customer satisfaction. This chapter presents Information…
Abstract
Tourism industry has extensively embraced technologies to enhance operational competencies, service quality over and above customer satisfaction. This chapter presents Information Technologies as an innovative approach to promote tourism destination from Destination Management Organization’s (DMO’s) perspective. Precisely, attention has been given on how destination managers are applying different types of technological tools to promote their tourism business. In recent times, DMOs are implementing several promotional tools with the use of technology like embracing the mobile technology, Social Media, online ads, and building effective marketing strategies innovatively to compete with the cut-throat competition in travel trade. It also tried to provide an insight understanding of the changes in destination manager’s promotional strategies with the advancement of technologies. Based on primary research with destination managers and using the literature review, a collection of technology-based tools used by DMOs for the promotion of tourism at the destination level was identified and their individual impacts were measured to identify the effects on the profit generation. To accomplish the mentioned objectives, an explorative study based on basic demographic analysis along with Pearson correlation and Simple Linear Regression was conducted to examine the individual impacts of the different promotional tools used by DMOs.
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One of the most well-known, seminal models in the tourism field is the one proposed 50 years ago by Stanley C. Plog. His venturesomeness model has been widely cited in journal…
Abstract
One of the most well-known, seminal models in the tourism field is the one proposed 50 years ago by Stanley C. Plog. His venturesomeness model has been widely cited in journal articles, textbooks, and has also been used as a reference for planning and designing tourism marketing projects. However, empirical research using Plog's psychographics has yielded varied results, some of which have corroborated his model, while others have found partial or no support for some postulates. Therefore, the purpose of this chapter is to offer an exhaustive review of 47 studies in the literature which have employed Plog's venturesomeness concept to examine travelers' personality traits, attitudes, and behavior, synthetizing empirical findings and drawing conclusions from the cumulative results. A discussion of the model's contribution to the current body of knowledge, managerial implications for tourism practitioners, and directions for future research are presented.
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L.J. Davies, L.J. Widgery and L.J. Karminski
November 6, 1969 Factory — Statutory duty — Breach — Disabled workman sustaining injury while lifting weight — Told previously by employers to ask for help in lifting weights if…
Abstract
November 6, 1969 Factory — Statutory duty — Breach — Disabled workman sustaining injury while lifting weight — Told previously by employers to ask for help in lifting weights if necessary — Help readily available — Whether “employed to lift, carry or move … load so heavy as to be likely to cause injury to him” — Whether employers entitled to leave decision to ask for help to plaintiff — Safe system of work — Failure of employers to provide — Whether established — Factories Act, 1961 (9 & 10 Eliz. II, c. 34), s. 72(1).
A singular place (a destination) is a product with multiple characteristics and multifunctional utility for different customers; however, some places offer the same type of…
Abstract
A singular place (a destination) is a product with multiple characteristics and multifunctional utility for different customers; however, some places offer the same type of utility and compete for the same customers. For this reason, the competitiveness of a place as a livable space, a space for investments, tourism, etc. has caused the emergence of the innovative managerial approaches to place governance. One such approach, which has been primarily used in production and which could be applied also in destination management, is the concept of branding.
The chapter summarizes the impact of place branding (our main focus) and place marketing (in more broad concept) on destinations, underlines the importance of culture and history in a place branding concept and highlights the importance of creation of partnerships in destinations by envisioning some useful concepts of co-operation in tourism destinations with a goal to create a positive image.
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April 10, 1967 Building — Safety regulations — Roof — Barrel roof ending in flat roof at either end — Flat roof 20 feet from ground — Workman on duckboard on barrel roof �…
Abstract
April 10, 1967 Building — Safety regulations — Roof — Barrel roof ending in flat roof at either end — Flat roof 20 feet from ground — Workman on duckboard on barrel roof — Workman's fall from roof — Whether flat roof a “working place”— Whether flat roof or duckboard a “gangway”—Whether duckboard “adequate foothold”— Whether duckboard “safe meats of access and egress” — Building (Safety, Health and Welfare) Regulations, 1948 (S. I. 1948, No. 1145), regs. 24(1), 27(2), 31(1) — Construction (General Provisions) Regulations, 1961 (S. I. 1961 No. 1580) reg.7(1).
Purpose: The purpose of this chapter is to critically evaluate the implementation of technologies from the perspective of guest services, innovation and visitor experiences. The…
Abstract
Purpose: The purpose of this chapter is to critically evaluate the implementation of technologies from the perspective of guest services, innovation and visitor experiences. The paper focuses on the value of robots, service automation and artificial intelligence in hospitality and examines their influence on service quality
Design/methodology/approach: The chapter is a critical and conceptual overview of the emergence and implementation of robots, service automation and artificial intelligence in the hospitality with an emphasis on service, service quality and guest experience. A comprehensive overview of the academic literature of customer service and guest experience is combined with industry examples from various service operations in hospitality in order to examine the implementation of RAISA in the hospitality industry from a range of academic and practical viewpoints.
Findings: The chapter argues that despite the global acceptance of technologies in service industries in general and hospitality in particular, it remains difficult to find the right balance between digital and human interactions. In the context of service quality, the implementation of robots and service automation is increasingly important for gaining a competitive advantage, but the provision of more personalized guest experiences remains controversial.
Originality/value: The study provides a comprehensive and systematic review of RAISA in a hospitality context and examine their impacts on service quality. The chapter is a critical examination of the potential of RAISA to transform the service experience and raises some fundamental questions regarding the need for RAISA, its practical implications and impact over the understanding and measurement of service quality.