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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.

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).

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.

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.

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.

The paper takes a behavioral approach by making use of the prospect theory to unveil the impact of salience on short-term and long-term investment decisions. This paper aims to investigate the group differences for two types of investors’ groups, i.e. individual investors and professional investors.

The study uses partial least square-based structural equation modeling technique, measurement invariance test and multigroup analysis test on a unique data set of 277 active equity traders which included professional money managers and individual investors.

Results showed that salience has a significant positive impact on both short-term and long-term investment decisions. The impact was almost 1.5 times higher for long-term investment decision as compared to short-term decision. Furthermore, multigroup analysis revealed that the two groups (individual investors and professional investors) were statistically significantly different from each other.

The study has implications for financial regulators, money managers and individual investors as it was found that individual investors suffer more with salience heuristic and may end up with sub-optimal portfolios due to inefficient diversification. Thus, investors should be cautious in fully relying on salience and avoid such bias to improve investment returns.

The study concludes with a discussion of policy and regulatory implications on how to minimize salience bias to achieve optimum and diversified portfolios.

The study has significantly contributed to the growing body of applied behavioral research in the discipline of finance.

This study aims to ascertain the impact of customer perception of CSR activities (philanthropic, environmental and ethical) conducted on various consumer and corporate related dimensions including; customer loyalty, consumer attachment, corporate performance and repurchase intention. The study also adds value by taking customer perception of CSR as a mediator between green image and performance.

Structural equation modelling is used after using different (valid and reliable) instruments to measure latent constructs. The study has a sample size of 250 “CSR Consumers”, who had some knowledge and awareness of CSR and green image being advertised and or labelled by the company (such as printing “Recycled” or other eco-friendly images/labels on shopping bag, fliers, outlets, etc.) and are consumers/customers of such firms. The respondent’s awareness was measured by randomly asking them to recall organizations that might have eco-friendly policies.

The key findings of the study are that perceived fit of culture along with CSR capability radically influences CSR perception within consumer minds and so, subsequently, customer attachment and overall performance of the corporation. The outcomes bestow significant ramifications for marketing and advertising philosophy combined with practice.

Stakeholders exist in the form of consumers other than employees. So consumer satisfaction must be imparted its fair share of importance. Managers must make sure that initiatives for societal benefit are well accepted and well recognized by consumers in a positive array of light. Corporations enthusiastically involved in initiating CSR activities and forecast a positive income. The study guides managers into not falling in this misconception and by recognizing that the fact is that the company managers must only expect higher performance levels once their CSR is in synchronization with the firm’s culture.

A number of studies have been conducted about CSR practices in the Indian context for example (Khan and Atkinson, 1987; Krishna, 1992; Arora and Puranik, 2004; Sood and Arora, 2006; Mishra and Suar, 2010); however, there is dearth of research in its neighbouring country Pakistan about CSR practices and consumer perceptions. Therefore, this research aims to fill this gap by examining CSR practices in Pakistan which has similar historical and colonial roots with India. In doing so, this study ascertains the impact of CSR activities conducted on various consumer and corporate related dimensions that incorporate customer loyalty, consumer attachment and corporate performance.

This research aims to examine the relationship between transactive memory systems and team sensemaking in the presence of critical boundary conditions, namely, task conflict and reward interdependence.

The data for Study 1 was collected from 304 team members who worked in 87 organizations in the Information, Communication and Technology sector of Pakistan. Study 2 is based on team-level data that was collected from 180 teams working in the New Product Development sector, with four to seven members in each team. The data tested the three-way interaction effect of the transactive memory systems, task conflict and reward interdependence on team sensemaking.

Results have shown that transactive memory systems have a positive relationship with team sensemaking, particularly when both task conflict and reward interdependence were perceived to be high.

To reap synergies, human resource managers should avoid disrupting team structures, assigning new members to a team or rotating team members very frequently. Moreover, if a team is experiencing high task conflict, reward interdependence may encourage conflict to remain constructive.

The current study is one of the first few attempts that examine the pivotal role of task conflict and reward interdependence as boundary conditions on transactive memory systems and team sensemaking. This research, therefore, highlights the role of transactive memory systems in enhancing team sensemaking at higher levels of task conflict and reward interdependence.

The purpose of this article is to clarify the mechanism by which underconfidence heuristic-driven bias influences the short-term and long-term investment decisions of individual investors, actively trading on the Pakistan Stock Exchange.

Investors' underconfidence has been measured using a questionnaire, comprising numerous items, including indicators of short-term and long-term investment decision. In order to establish the influence of underconfidence on the investment decisions in both the short and long run, a 5-point Likert scale questionnaire has been used to collect data from the sample of 203 investors. The collected data were analyzed using SPSS and AMOS graphics software. Hypotheses were tested using structural equation modeling technique.

This article provides further empirical insights into the relationship between heuristic-driven biases and investment decision-making in the short and long run. The results suggest that underconfidence bias has a markedly negative influence on the short-term and long-term decisions made by investors in developing markets. It means that heuristic-driven biases can impair the quality of both short-term and long-term investment decisions.

This article encourages investors to avoid relying on cognitive heuristics, namely, underconfidence or their feelings when making short-term and long-term investment strategies. It provides awareness and understanding of heuristic-driven biases in investment management, which could be very useful for finance practitioners' such as investor who plays at the stock exchange, a portfolio manager, a financial strategist/advisor in an investment firm, a financial planner, an investment banker, a trader/broker at the stock exchange or a financial analyst. But most importantly, the term also includes all those persons who manage corporate entities and are responsible for making its financial management strategies. They can improve the quality of their decision-making by recognizing their behavioral biases and errors of judgment, to which we are all prone, resulting in more appropriate investment strategies.

The current study is the first to focus on links between underconfidence bias and short-term and long-term investment decision-making. This article enhanced the understanding of the role that heuristic-driven bias plays in the investment management and more importantly, it went some way toward enhancing understanding of behavioral aspects and their influence on the investment decision-making in an emerging market. It also adds to the literature in the area of behavioral finance specifically the role of heuristics in investment strategies; this field is in its initial stage, even in developed countries, while, in developing countries, little work has been done.

This study aims to analyze how consumers perceive the corporate social responsibility (CSR) practices carried out by a local water district in Angeles City, Philippines. The main objective of the study is to investigate how CSR practices influence customer satisfaction. To achieve this, several pieces of literature were mentioned to prove that CSR has an important role to its stakeholders.

The study used a descriptive and quantitative approach to test the hypotheses. The participants of the study were the residents of the top three barangays in Angeles City, Philippines, in terms of the most consumed water supply, namely: Cut-cut, Pampang and Anunas. Using the Raosoft sample size calculator, the computed sample size was 382 respondents and distributed using stratified sampling. Methodologically, the study used statistical treatment to test all the variables and validated the instrument.

The result of the study shows that CSR practices significantly impact customer satisfaction. In the test of the degree of relationship between the dimensions of CSR and customer satisfaction, it was found that there is a significant relationship between the two variables.

The future study may explore the relationship between CSR and the resource-based view theory of the firm. The resource-based perspectives are useful to understand why firms engage in CSR activities and disclosure. From a resource-based perspective, CSR is seen as providing internal or external benefits, or both.

The water district must promote social welfare and behave as good corporate citizens; they must spend the resources allocated to CSR initiatives in ways that yield optimum benefits to society as well as to the stakeholders of the company.

The paper points out that the water supply industry is one of the most regulated sectors, as the operation requirements are tighter than any other activity. The authors emphasize that water companies must assume special responsibility because their activities are directly related to the use of natural resources, environmental pollution, and public health.

This study used a descriptive-explanatory strategy to determine the significant variables using PLS-SEM. This paper addressed how consumers perceive the CSR practices carried out by the local water district in Angeles City, Philippines.