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The Technical Education and Vocational Training Authority (TEVTA) plays a crucial role in the socioeconomic development of a country. Still, it is often stigmatized as a secondary choice in the Global South. This study explored the interrelationships and impacts of factors such as family, school, and society on the perception and reputation of TEVTA.

By employing quantitative methods, the analysis focused on how family, society, and school support influence these perceptions and reputations within TEVTA programs. Social Cognitive Theory is the theoretical underpinning of this study, in which 350 students from 13 TEVTA institutes participated by filling out questionnaires. The data was analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) and IBM SPSS 28.

This study indicates that family and societal influences significantly shape students' perceptions, confirming their pivotal role in enhancing the reputation of these programs. School support also emerged as a critical factor, significantly impacting students' perceptions but not directly influencing the programs' reputation. The analysis underscores the importance of understanding the sociocultural context to develop effective strategies for the TEVTA sector in Pakistan. This clear understanding is essential for developing effective strategies to improve the reputation of TEVTA programs in this setting. Moreover, this research offers policy suggestions to make vocational education more attractive and accessible to diverse students, ultimately contributing to the country's socioeconomic development.

This study applied Social Cognitive Theory (SCT) to explore how individual thoughts, environmental influences (such as family, school, and society), and behaviors interact within the context of TEVTA programs. This approach fills gaps in current research and offers a clearer understanding of what affects TEVTA's perception and reputation.

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.