Search results

Purpose: Risk is a multifaceted concept, and its identification requires complex approaches that are often misunderstood. The consequence is that decisions are based on limited perception rather than the full value and meaning of what risk is, as a result, the way it is being tackled is incorrect. The individuals are often limited in their perceptions and ideas and do not embrace the full multifaceted nature of risk. Regulators and individuals want to follow norms and checklists or overuse models, simulations, and templates, thereby reducing responsibility for decision-making. At the same time, the wider use of technology and rules reduces the critical thinking of individuals. We advance the automation process by building robots that follow protocols and forget about the part of risk assessment that cannot be programed. Therefore, with this study, the objective of this study was to discover how people define risk, the influencing factors of risk perception and how they behave toward this perception. The authors also determine how the perception differed with age, gender, marital status, education level and region. The novelty of the research is related to individual risk perception during COVID-19, as this is a new and unknown phenomenon. Methodology: The research is based on the analysis of the self-administered purposely designed questionnaires we distributed across different social media platforms between February and June 2020 in Europe and in some cases was carried out as a interview over communication platforms such as “Skype,” “Zoom” and “Microsoft Teams.” The questionnaire was divided into four parts: Section 1 was designed to collect demographic information from the participants; Section 2 included risk definition statements obtained from literature and a preliminary discussion with peers; Section 3 included risk behavior statements; and Section 4 included statements on risk perception experiences. A five-point Likert Scale was provided, and participants were required to answer along a scale of “1” for “Strongly Agree” to “5” for “Strongly Disagree.” Participants also had the option to elaborate further and provide additional comments in an open-ended box provided at the end of the section. 466 valid responses were received. Thematic analysis was carried out to analyze the interviews and the open-ended questions, while the questionnaire responses were analyzed using various quantitative methods on IBM SPSS (version 23). Findings: The results of the analysis indicate that individuals evaluate the risk before making a decision and view risk as both a loss and opportunity. The study identifies nine factors influencing risk perception. Nevertheless, it must be emphasized that we can continue to develop models and rules, but as long as the risk is not understood, we will never achieve anything.

The study aims to examine the relationship between personality traits and investor risk behavior of the individuals trading in stock markets. Furthermore, this study establishes the association of financial literacy on the relationship between personality traits and investor risk behavior.

The authors analyze cross-sectional survey method data by using moderated multiple regression analysis, a standard method of determining the moderation effect. PROCESS Model method has been used in this study to check the robustness of the results.

The findings reveal that personality traits significantly influence investor risk behavior and financial literacy modifies the fundamental relationships between personality traits and investor risk behavior. The findings also conclude that behavioral impact was predetermined by individuals' genetic traits and is influenced by financial literacy.

The current study provides valuable insights for investors and adamant grounds for future research. The two-fold role of individuals' personalities in case of gains and losses can be of interest to the researchers in future.

Investors currently facing the complex financial choices which are far beyond the day-to-day financial advice. This study guides rational investment behavior for portfolio managers and investors for advanced investment options.

Most of the prior literature is based on developed markets, whereas the current study focuses on less literate society (i.e. Pakistan) to protect the investors from scams and fraud. The current study supports the vital role of investors in the socio-economic development of emerging markets.

The authors believe this study expands the boundaries of personality theories, especially in the context of risk behavior and financial literacy. The study also contributes to advancing the personality theory trimmed with financial literacy and investor behavior while making important theoretical inroads for future research.

An empirical study is reported which examines the relationships between industrial relations climate and variables reflecting the state of the firm's performance, industrial relations structure, and overall effectiveness in 28 manufacturing companies. In addition to reporting the patterns of association between each of these aspects, multivariate analyses are employed in order to (i) ascertain the direct and indirect influences of industrial relations climate and other variables under study on company effectiveness, and (ii) examine the assumptions about the direction of causality between industrial relations climate and effectiveness. The results highlight the relationships between the above variables and emphasise the importance of conceptualising industrial relations climate in such a way that can adequately reflect the attitudes and behaviour of industrial relations actors. Path analysis suggests that the pattern of causality is not a simple one but involves reciprocal and feedback relationships. However, the mprovement to the explanatory power of company effectiveness by including the notion of industrial relations limate in research, is clearly demonstrated.

Provisions for the minimisation of human error are essential through governance structures such as recruitment, human resource allocation and education/training. As predictors of safety attitudes/behaviours, employees’ personality traits (e.g. conscientiousness, sensation-seeking, agreeableness, etc.) have been examined in relation to human error and safety education.

This review aimed to explore research activity on the safety attitudes of healthcare staff and their relationship with the different types of personalities, compared to other complex and highly regulated industries. A scoping review was conducted on five electronic databases on all industrial/work areas from 2001 to July 2023. A total of 60 studies were included in this review.

Studies were categorised as driving/traffic and industrial to draw useful comparisons between healthcare. Certain employees’ personality traits were matched to positive and negative relationships with safety attitudes/behaviours. Results are proposed to be used as a baseline when conducting further relevant research in healthcare.

Only two studies were identified in the healthcare sector.

The necessity for additional research in healthcare and for comparisons to other complex and highly regulated industries has been established. Safety will be enhanced through healthcare governance through personality-based recruitment, human resource allocation and education/training.

The Author's company was the first in New Zealand to install automatic insertion equipment. The paper covers the appraisal of the following systems: manual insertion; semi‐automatic insertion; and automatic component insertion. The last of these comprises various types, namely bench type, pantograph machine, computer controlled (axial lead and general) and an in‐line assembly system. The computer controlled axial lead insertion equipment including design criteria is detailed at length, with some discussion of advantages.

This paper applies the theory of loss aversion to public budgeting. It seeks to understand how loss aversion affects recommended budget amounts in two scenarios, one with explicit and one with implied risk levels. It also furthers the understanding of how the personality trait of risk propensity moderates recommended budget amounts in these scenarios.

Utilizing original data gathered from experimental vignettes, 339 US-based participants provided budget recommendations on two separate federal education programs. Participants were current budget professionals and master's-level students. One program utilizes a risky choice frame scenario while the other uses a goal frame scenario.

Participants are more likely to select a risky program option when the options are framed in terms of loss. Additionally, participants recommended larger budgets when they select the riskier program option. When presented with program goals, participants budget more when the goals are framed in terms of loss as opposed to gains. Results on participant risk propensity are mixed.

The discussion section includes multiple recommendations on how managers can approach budgeting with the intent of obtaining the most efficient budget allocation for the programs under their control.

The study is the first to examine framing and risk propensity in budgeting using two different types of framed messaging. Additionally, it is the only study to ask participants to recommend a budget amount after selecting a risky choice option. Therefore, results are more relevant to the entire process of public budgeting. Also, the study includes a mixture of participants with and without finance experience, providing insight into how different public employees allocate funds.

The proper identification of consumers' risk perception, fear and panic behaviour can help managers to limit consumers' irresponsible behaviour, develop safer shopping experiences and attract consumers to physical stores. Indeed, the risk of contagion might result in shopping anxiety and limit consumers' propensity to visit the physical stores. This chapter aims at supporting retailers by providing a deep understanding of how the uncertainty and risk perceptions coming from emergency awareness impacts consumers' behaviour. Attention is solicited towards new retail strategies and practices to mitigate these consequences.