More than money: exploring the role of investment advisors for sustainable investing

2015 ◽  
Vol 1 (1) ◽  
pp. 195-223 ◽  
Author(s):  
Falko Paetzold ◽  
Timo Busch ◽  
Marc Chesney
Keyword(s):  
Decision Making ◽  
Social Responsibility ◽  
Financial Markets ◽  
Ordinary Least Squares ◽  
Capital Allocation ◽  
Future Research ◽  
Financial Return ◽  
Content Type ◽  
Private Investors

Purpose – Investment advisors play a significant role in financial markets, yet the determinants of their behavior have not been explored in detail. The purpose of this paper is to explore the determinants of how actively advisors communicate about sustainable investing with their clients, and differences in the preferences of advisors compared to investors. Design/methodology/approach – Based on a survey with 296 retail and private banking investment advisors, this study employs an ordinary least squares regression model to explore the determinants of advisors activity in communicating about sustainable investing (SI) with their clients, differences in the aspects that matter to advisors and investors, and the role of the complexity of sustainability. Findings – Advisors activity in communicating about SI relates to their expectation of SI regarding financial return, real-world impact, and the fuzziness and trustworthiness of SI. Advisors appear not to be influenced by expected risk and their personal values, which runs against prior research findings and the interest of investors. Research limitations/implications – Future research should assess cultural differences and explore asymmetries between advisors and investors in regard to the role of volatility, values, impact measurement, and complexity. Practical implications – Investment advisors underweighting aspects related to risk and self-transcendent values relative to their clients might limit the suitability of clients ' portfolios, skew capital allocation, and depress the role of SI in financial markets. Generalized to salespeople this behavior might depress the market success of products related to sustainability at large. Social implications – The findings and their generalization indicate that salespeople might systematically deviate from their clients’ interests in regard to social responsibility. Advisors and salespeople in their mediating role might be an important barrier to sustainable development. Originality/value – This is the first quantitative study that explores the decision-making by investment advisors in the context of SI, and as such answers to specific calls in literature to explore the micro-foundations of decision making in regard to SI and social responsibility, and on the relationship between private investors and investment advisors. This study is based on unique and original empirical data on advisors that work with retail and wealthy private investors.

Board independence and corporate social responsibility reporting: mediating role of stakeholder power

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Afzalur Rashid
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Ordinary Least Squares ◽  
Board Independence ◽  
Content Type ◽  
Reporting Practices ◽  
Csr Reporting ◽  
Corporate Social ◽  
Stakeholder Power

Purpose This study aims to examine the association between board independence and corporate social responsibility (CSR) reporting and the moderating role of stakeholder power on the association between board independence and CSR reporting. Design/methodology/approach Using a sample of 707 Bangladeshi firm-year observations, this study uses a content analysis technique to develop a 24-item of CSR reporting index. This study uses the ordinary least squares regression method to examine the relationship between board independence and CSR reporting. Findings The study finds that board independence does not influence CSR activities and relevant reporting in general. However, the non-influence of board independence and CSR reporting is offset by stakeholder power. Insider ownership, firm age, firm size, growth opportunities and market capitalisation have a positive influence on such reporting. Practical implications While this study suggests that stakeholders’ influence is an important factor in determining the firms’ incentives to disclose CSR information, this finding creates a new debate on the efficacy of independent directors and whether they are good monitors and are able to fulfil all the stakeholders’ expectations. Originality/value This study makes an important contribution to the literature on CSR practices by documenting that firms having powerful stakeholders induce the board and management to make more CSR reporting practices in the context of emerging economies.

Managerial perceptions of energy in logistics

2017 ◽  
Vol 47 (6) ◽  
pp. 447-471 ◽  
Author(s):  
Christian Busse ◽  
Alexander Regelmann ◽  
Hariganesh Chithambaram ◽  
Stephan M. Wagner
Keyword(s):  
Decision Making ◽  
Conceptual Framework ◽  
Subjective Norms ◽  
Future Research ◽  
Organizational Research ◽  
Content Type ◽  
Managerial Perceptions ◽  
Decision Making Processes ◽  
Awareness Raising

Purpose Because of the major contribution of logistics to the greenhouse gas effect, logistics research has begun to address the topic of energy, but it has not yet targeted the role of energy within logistical decision-making processes. To facilitate such endeavors, the purpose of this paper is to explore the perceptions of energy which managers in logistics organizations portray. Design/methodology/approach This investigation is based on interviews with 17 managers. The findings are embedded in the theory of planned behavior (TPB) and stakeholder theory (SHT). Findings The study depicts initial insights on which energy-related perceptions exist, how they can be categorized into attitudes, subjective norms, and perceived behavioral controls (PBCs), and how different stakeholders seem to affect them. Research limitations/implications This research suggests a tentative comprehensive conceptual framework that describes the role of energy in logistical decision-making processes. The findings on attitudes and subjective norms appear to be unspecific to the logistics domain, whereas some of the PBCs are presumably unique to the logistics context. Future logistics research should hence focus its efforts on the PBCs. Generalizability and completeness of the managerial perceptions must be validated by future research. Practical implications The findings help logistics organizations in scrutinizing managerial perspectives on energy and in developing awareness-raising measures. Originality/value The behavioral perspective applied in this study can complement extant, more technically oriented views. The conceptual framework that integrates the TPB and SHT may also be useful for organizational research beyond the logistics domain.

Role of CSR in the consumer decision making process – The case of India

2018 ◽  
Vol 14 (1) ◽  
pp. 138-158 ◽  
Author(s):  
Sudeepta Pradhan
Keyword(s):  
Decision Making ◽  
Quantitative Methods ◽  
Future Research ◽  
Decision Making Process ◽  
Consumer Decision Making ◽  
Legitimacy Theory ◽  
Socially Responsible ◽  
Consumer Decision ◽  
Content Type

Purpose The purpose of this study is to capture the decision-making process of one of the major stakeholders, i.e. consumers, while purchasing from socially responsible firms. Design/methodology/approach This study uses an exploratory approach to have an understanding of consumers’ evaluation of their perceptions of a company’s CSR during the purchasing process. A total of 60 respondents were interviewed, and their responses were transcribed. These messages were then analysed using content analysis. Findings The evaluation of CSR initiatives is an intricate, logical and structured process where consumers consider factors that are valued by them. The findings support the concept of legitimacy theory, as most respondents believed it was the duty of a firm to give back to the society. Research limitations/implications This study suffers from an inherent limitation faced by qualitative studies, namely, the results cannot be generalized. Hence, quantitative methods can be designed in future research in the field. A cross-cultural study would also provide deeper insights and interesting avenues in future investigation to identify different factors. Practical implications Managers have the option of ignoring consumers’ approach towards CSR, and/or focus on CSR positioning and use it in their marketing communications. The Companies Bill, 2013, mandated Indian firms to spend and report their CSR expenditures. Hence, they should use it strategically and advertise their CSR initiatives effectively to influence a large number of consumers. It is also essential for managers to make CSR information easily available and clarify the connection of the company to CSR initiatives. They should also identify the proper channels that would get desired results. Social implications The study investigates the intricate process that explicates the reasons why CSR affects the consumer decision-making process. The research provides a better understanding into intention-behavior gap, investigates the reasons for such discrepancy and identifies a large number of factors. Originality/value The study intends to contribute to the field of marketing by capturing stakeholder (consumer) engagement (by exploring consumers’ beliefs of CSR, their perceptions and the role of such perceptions) in decision-making. It also intends to add to the existing studies in legitimacy theory.

Analyst’s ability, media selection and investor interests: evidence from China

2017 ◽  
Vol 7 (1) ◽  
pp. 67-84 ◽  
Author(s):  
Yugang Yin ◽  
Bin Tan
Keyword(s):  
Decision Making ◽  
Mass Media ◽  
Financial Markets ◽  
Abnormal Returns ◽  
Earnings Forecasts ◽  
Individual Investors ◽  
Content Type ◽  
Conflict Of Interests ◽  
The Impact

Purpose The purpose of this paper is to find out whether the election of star analysts leads to the conflict of interests between analysts\institutional investors and individual investors. And then, further investigate how the election results to influence the individual investors’ decision making. Design/methodology/approach Given the fact that earnings forecasts and stock ratings are the most important foundations for the investor’s investment decision, the authors investigate the relationship among the earnings forecasts, abnormal returns and the election of star analyst. This paper further analyzes the impact factors on investors’ decision. The data used in this paper for star analysts’ information, analysts’ forecast and recommendations, as well as stock performances-related data are from 2005 to 2012. Findings This paper finds that mass media cannot select analysts with high forecast accuracy, and then misleads investors. It demonstrates that the analysts with poorer forecast ability and more optimistic stock recommendations are more prone to be entitled as star analysts by mass media, and these titled star analysts tend to show a poorer performance. Therefore, the star analyst worsens investors’ cognition on analysts forecast ability and then misleads investors’ decision making. Social implications Media plays a critical role in corporate governance, information collection and diffusion and reducing the information asymmetry, however, it is good to know the role of media in financial markets from a broader perspective. Because media may also bring negative factors to the financial markets such as misguiding the investors and intensify the conflict of interests between analyst and individual investors. Originality/value This paper supports a new perspective of the role of mass media in financial market, which is different from existing studies.

scholarly journals Communicating Sustainable Responsible Investments as Financial Advisors: Engaging Private Investors with Strategic Communication

2021 ◽  
Vol 13 (6) ◽  
pp. 3161
Author(s):  
Nadine Strauß
Keyword(s):  
Financial Markets ◽  
Change Agents ◽  
Strategic Communication ◽  
Future Research ◽  
Financial Advisors ◽  
Responsible Investing ◽  
Private Investors ◽  
Communication Interventions ◽  
And Training

Although sustainable responsible investing (SRI) has increasingly become popular on the financial markets, the potential of raising capital from private investors for sustainable development has not been efficiently seized thus far. The lack of knowledge and training about SRI by financial advisors has often been identified as one of the main reasons for this investment gap. In order to accelerate the role of financial advisors as change agents for SRI, this study proposes several strategic communication interventions that advisors could employ in their advisory talks to raise more attention and engagement among private investors for SRI. The interventions proposed are oriented on the 5A model of SRI decision making by Herwig Pilaj and drawn from an interdisciplinary literature review on sustainability, communication, and attitudinal and behavioral change. The results provide a perspective and practical guide for financial advisors on how to effectively communicate SRI to private investors. Limitations and areas future research are discussed.

When persuasive intent and product’s healthiness make a difference for young consumers

2018 ◽  
Vol 19 (1) ◽  
pp. 38-54
Author(s):  
Liudmila Tarabashkina ◽  
Pascale Quester ◽  
Olga Tarabashkina ◽  
Michael Proksch
Keyword(s):  
Decision Making ◽  
Design Methodology ◽  
Food Preferences ◽  
Food Choices ◽  
Complex Interaction ◽  
Future Research ◽  
Content Type ◽  
Young Consumers ◽  
Healthy Participants

PurposeThis study aims to fill in the above-mentioned gap by looking at both children’s understanding of advertising and product cues during decision-making. Currently, it is assumed that understanding of advertisements’ persuasive intent represents the sole factor that children consider during decision-making, which overlooks the role of intrinsic product cues (taste or healthiness) and more complex interaction between the latter and the perceived persuasive intent.Design/methodology/approachAn experiment with children (of ages 7-13 years) and a survey of their parents were carried out.FindingsWhen exposed to an advertisement, children exhibited less favorable food preferences when they grasped the advertisement’s intended persuasive intent and evaluated the product as less healthy. Participants who did not believe that the advertisement aimed to influence them and rated the product as healthy, exhibited more favorable intention to consume the advertised snack.Research limitations/implicationsThis study shows that persuasive intent and healthiness product cues are used simultaneously by young consumers and need to be considered in future research to provide more in-depth understanding of children’s decision-making.Originality/valueThe findings highlight the importance of previously overlooked intrinsic product cues and the need to consider both persuasive intent and product cue evaluations to better understand why children may exhibit less healthy food choices.

Cognitive biases and decision-making strategies in times of change: a systematic literature review

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Chiara Acciarini ◽  
Federica Brunetta ◽  
Paolo Boccardelli
Keyword(s):  
Decision Making ◽  
Literature Review ◽  
Systematic Literature Review ◽  
Cognitive Biases ◽  
Future Research ◽  
Strategic Decisions ◽  
Data Set ◽  
Content Type ◽  
The Impact

PurposeIn a work environment marked by unprecedented complexity, volatility and ambiguity, managers must accomplish their objectives while navigating many challenges. This paper aims to investigate potential interrelations among environmental transformations, cognitive biases and strategic decisions. In particular, the purpose of the study is to crystallize the state of art on the impact of cognitive biases on strategic decisions, in the context of environmental transformations.Design/methodology/approachThe authors have conducted a systematic literature review to identify existing relevant work on this topic and to detect potential avenues for future research.FindingsThe findings highlight how decision-making is influenced and enabled by internal (e.g. perception) and external factors (e.g. digitalization). Specifically, the strategic role of cognitive biases appears to be crucial when investigating the related impact on strategic decisions in times of environmental transformation.Practical implicationsImplications are drawn for scholars and practitioners interested in evaluating the role of specific decision-making determinants for the formation and implementation of strategic decisions. In this sense, we stress that decision-makers need to manage their cognitive biases and select the right information out of a wide data set in order to adapt to environmental transformations.Originality/valueBy systematizing the literature review, potential interrelations among environmental transformations, cognitive biases and strategic decisions are identified. Furthermore, the primary phases that drive the decision-making process are proposed (analysis, decision, onboarding and control).

Assessing hotel readiness to offer local cuisines: a clustering approach

2019 ◽  
Vol 31 (2) ◽  
pp. 998-1020 ◽  
Author(s):  
Alberta Bondzi-Simpson ◽  
Julian K. Ayeh
Keyword(s):  
Decision Making ◽  
Critical Role ◽  
Organisational Culture ◽  
Decision Makers ◽  
Three Dimensions ◽  
Development Theory ◽  
Future Research ◽  
Perceived Benefits ◽  
Content Type

PurposeThe purpose of this paper is to assess the organisational readiness of small and medium scaled hotels to serve indigenous local cuisines and to segment the hotel properties for gastronomic tourism campaigning and destination marketing aims. The study also explores how the concept of organisational readiness relates to menu decision makers’ intentions, perceived benefits and organisational characteristics.Design/methodology/approachOrganisational readiness was measured by three dimensions (culture, climate and capacity). Data were derived from a survey of primary menu decision makers from 187 hotels in Ghana. Using a combination of hierarchical and non-hierarchical (K-means) algorithms, the hotels were clustered into homogenous groups based on the original raw scores of hotel readiness indicators. The resultant cluster solution was then validated and profiled against relevant external variables.FindingsAnalyses reveal three clusters which distinguish hotels by the degree of readiness to serve indigenous local dishes. The resultant segments differ by hotel category (star rating) as well as by the job positions and perceptions of primary menu decision makers. Unexpectedly, lower class hotels displayed significantly greater levels of organisational readiness to serve indigenous cuisines than those in the higher class category.Research limitations/implicationsThe study demonstrates that organisational readiness is related to perceived benefits and intentions. Among others, the findings advance the understanding of organisational readiness in hotels in the context of menu decision-making. Given the need to embed new practices in a fast-changing hospitality environment, insights drawn could also serve as a basis for future research. Generalisability of empirical findings may be limited by the socio-economic context as well as the study’s focus on small and medium scaled hotels.Practical implicationsThis paper supports hotel businesses in understanding the concept of organisational readiness and its relation to organisational characteristics and menu decision-making. By highlighting the different clusters of hotels, the findings accentuate the need for destination marketers and gastronomic tourism campaigners to target higher classed hotels and draw attention to the potential benefits of serving indigenous cuisines while addressing latent concerns. The results further underscore the role of organisational culture and the necessity for such campaign activities to be directed towards those with ample influence within the hierarchical structures of hotels.Originality/valueThis is an initial attempt to examine the application of the organisational readiness concept to menu decision-making in hotels and to explore the implications for segmentation purposes. Further analysis revealed the critical role of organisational culture on menu decision-making patterns. Thus, the paper applies an important element of organisational development theory to the hotel industry and represents a valuable contribution to the scant literature on indigenous cuisines in hotel food service contexts.

scholarly journals Decision Making from the Experience of Orthognathic Surgery Patients: A Grounded Theory Approach

2021 ◽  
pp. 238008442110144
Author(s):  
N.R. Paul ◽  
S.R. Baker ◽  
B.J. Gibson
Keyword(s):  
Decision Making ◽  
Grounded Theory ◽  
Treatment Options ◽  
Study Data ◽  
Primary Objective ◽  
Major Surgery ◽  
Future Research ◽  
Decision Making Process ◽  
Theory Approach

Introduction: Patients’ decisions to undergo major surgery such as orthognathic treatment are not just about how the decision is made but what influences the decision. Objectives: The primary objective of the study was to identify the key processes involved in patients’ experience of decision making for orthognathic treatment. Methods: This study reports some of the findings of a larger grounded theory study. Data were collected through face-to-face interviews of patients who were seen for orthognathic treatment at a teaching hospital in the United Kingdom. Twenty-two participants were recruited (age range 18–66 y), of whom 12 (male = 2, female = 10) were 6 to 8 wk postsurgery, 6 (male = 2, female = 4) were in the decision-making stage, and 4 (male = 0, female = 4) were 1 to 2 y postsurgery. Additional data were also collected from online blogs and forums on jaw surgery. The data analysis stages of grounded theory methodology were undertaken, including open and selective coding. Results: The study identified the central role of dental care professionals (DCPs) in several underlying processes associated with decision making, including legitimating, mediating, scheduling, projecting, and supporting patients’ decisions. Six categories were related to key aspects of decision making. These were awareness about their underlying dentofacial problems and treatment options available, the information available about the treatment, the temporality of when surgery would be undertaken, the motivations and expectation of patients, social support, and fear of the surgery, hospitalization, and potentially disliking their new face. Conclusion: The decision-making process for orthognathic treatment is complex, multifactorial, and heavily influenced by the role of DCPs in patient care. Understanding the magnitude of this role will enable DCPs to more clearly participate in improving patients’ decision-making process. The findings of this study can inform future quantitative studies. Knowledge Transfer Statement: The results of this study can be used both for informing clinical practice around enabling decision making for orthognathic treatment and also for designing future research. The findings can better inform clinicians about the importance of their role in the patients’ decision-making process for orthognathic treatment and the means to improve the patient experience. It is suggested that further research could be conducted to measure some of the key constructs identified within our grounded theory and assess how these change during the treatment process.

Commentary on “Diabetes and people with learning disabilities: issues for policy, practice and education”

2020 ◽  
Vol 25 (1) ◽  
pp. 35-39 ◽  
Author(s):  
Brianne Redquest ◽  
Yona Lunsky
Keyword(s):  
Health Care ◽  
Learning Disabilities ◽  
Health Care Providers ◽  
Diabetes Care ◽  
Future Research ◽  
Care Providers ◽  
Family Carers ◽  
Content Type ◽  
Policy Practice

Purpose There has been an increase in research exploring the area of intellectual and developmental disabilities (IDD) and diabetes. Despite being described as instrumental to diabetes care for people with IDD, the role and experiences of family carers, such as parents and siblings, are often neglected in this research. However, it is clear that family carers do not feel that they have sufficient knowledge about diabetes. The purpose of this commentary is to extend the content from “Diabetes and people with learning disabilities: Issues for policy, practice, and education (Maine et al., 2020)” and discuss how family carers can feel better supported when caring for someone with IDD and diabetes. Design/methodology/approach This commentary discusses specific efforts such as STOP diabetes, DESMOND-ID and OK-diabetes for people with IDD including family carers. Encouragement is given for health care providers to recommend such programmes to people with IDD and their family carers. It is also suggested that health care providers involve family carers in diabetes care planning and implementation for people with IDD. Findings It is hoped that if changes are made to current diabetes practices and more research with family carers is conducted, diabetes prevention and management for people with IDD will be more successful and family carers can feel more confident in providing support to their loved ones. Originality/value Research exploring the role of family carers in diabetes care for people with IDD and diabetes is very limited. This commentary makes recommendations to help family carers feel better supported in their role. It also provides areas for future research.

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