Money as a symbol in the relationship between financial advisors and their clients: a dyadic study

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Edoardo Lozza ◽  
Cinzia Castiglioni ◽  
Andrea Bonanomi ◽  
Federica Poli
Keyword(s):  
Behavioral Finance ◽  
Financial Services ◽  
Ad Hoc ◽  
Sampling Technique ◽  
Point Of View ◽  
Financial Advisors ◽  
Content Type ◽  
Psychological Training ◽  
Symbolic Meanings ◽  
The Relationship

PurposeThe paper aims to examine whether financial advisors can understand the symbols and meaning that investors associate with money and whether such ability plays any role in enhancing the advisor-investor relationship in terms of satisfaction, level of trust, referral propensity and loyalty.Design/methodology/approach The authors used a dyadic research design. A total of 186 dyads of financial advisors and their clients took part in the study and completed two parallel self-administered questionnaires.Findings The authors found that financial advisors often can detect the emotional associations that their clients attribute to money. Such ability can enhance their relationship with investors.Research limitations/implicationsThe main limitation of this study is its exploratory nature and the convenience sampling technique that was adopted. Therefore, researchers are encouraged to test the main findings further.Practical implicationsThe results have implications for the development of ad-hoc psychological training to enhance the relationship between financial advisors and investors. Understanding the symbolic meanings and the emotions that clients associate with money may be a prerequisite for a financial services company to succeed and be competitive in the sector.Originality/valueDespite acknowledging that money is not a neutral object but is layered with symbolic meanings and emotional associations, the behavioral finance literature has so far neglected to study these implications from either a theoretical or a practical point of view. This paper aims to fill this gap by investigating the symbolic value of money in the financial services industry.

Heuristic biases in investment decision-making and perceived market efficiency

2018 ◽  
Vol 10 (1) ◽  
pp. 85-110 ◽  
Author(s):  
Syed Zulfiqar Ali Shah ◽  
Maqsood Ahmad ◽  
Faisal Mahmood
Keyword(s):  
Financial Markets ◽  
Market Efficiency ◽  
Negative Impact ◽  
Investment Decisions ◽  
Sampling Technique ◽  
Investment Strategy ◽  
Individual Investors ◽  
Content Type ◽  
Specific Investment ◽  
The Relationship

Purpose This paper aims to clarify the mechanism by which heuristics influences the investment decisions of individual investors, actively trading on the Pakistan Stock Exchange (PSX), and the perceived efficiency of the market. Most studies focus on well-developed financial markets and very little is known about investors’ behaviour in less developed financial markets or emerging markets. The present study contributes to filling this gap in the literature. Design/methodology/approach Investors’ heuristic biases have been measured using a questionnaire, containing numerous items, including indicators of speculators, investment decisions and perceived market efficiency variables. The sample consists of 143 investors trading on the PSX. A convenient, purposively sampling technique was used for data collection. To examine the relationship between heuristic biases, investment decisions and perceived market efficiency, hypotheses were tested by using correlation and regression analysis. Findings The paper provides empirical insights into the relationship of heuristic biases, investment decisions and perceived market efficiency. The results suggest that heuristic biases (overconfidence, representativeness, availability and anchoring) have a markedly negative impact on investment decisions made by individual investors actively trading on the PSX and on perceived market efficiency. Research limitations/implications The primary limitation of the empirical review is the tiny size of the sample. A larger sample would have given more trustworthy results and could have empowered a more extensive scope of investigation. Practical implications The paper encourages investors to avoid relying on heuristics or their feelings when making investments. It provides awareness and understanding of heuristic biases in investment management, which could be very useful for decision makers and professionals in financial institutions, such as portfolio managers and traders in commercial banks, investment banks and mutual funds. This paper helps investors to select better investment tools and avoid repeating expensive errors, which occur due to heuristic biases. They can improve their performance by recognizing their biases and errors of judgment, to which we are all prone, resulting in a more efficient market. So, it is necessary to focus on a specific investment strategy to control “mental mistakes” by investors, due to heuristic biases. Originality/value The current study is the first of its kind, focusing on the link between heuristics, individual investment decisions and perceived market efficiency within the specific context of Pakistan.

Ethnicity as inclusion and exclusion

2016 ◽  
Vol 29 (8) ◽  
pp. 1262-1269 ◽  
Author(s):  
Rachel F. Baskerville ◽  
Kerry Jacobs ◽  
Vassili Joannides de Lautour ◽  
Jeff Sissons
Keyword(s):  
Ad Hoc ◽  
Cultural Perspective ◽  
Special Issue ◽  
Culture Theory ◽  
Grid And Group ◽  
Group Culture ◽  
Content Type ◽  
Accounting Research ◽  
Mary Douglas ◽  
The Relationship

Purpose Accounting research has struggled with how ethnicity is to be understood in relation to concepts such as nation and nationality and how ethnicity may impact on accounting and auditing practices, behaviours, education and professional values. These themes are explored and developed in the papers presented in this special issue. In particular, the purpose of this paper is to explore the contrasting theoretical and methodological approaches reflected by the papers in the issue. Design/methodology/approach This is a reflective and analytical paper which explores how notions of ethnicity are conceived and operationalised in accounting research. The authors identified two distinctive analytic ordering processes evident within this AAAJ Special issue: Mary Douglas’ scheme of Grid and Group and the Pierre Bourdieu’s conceptual tools of field, capital and habitus. Findings The “Grid and Group” Culture Theory with Bourdieu’s theoretical tools evident in the papers provide powerful tools to explore the relationship between ethnicity and accounting both conceptually and empirically, suggesting that ethnicity can be deployed to reveal and challenge institutionalised racism. This paper highlights the potential to integrate elements of the “Grid and Group” Culture Theory and Bourdieu’s theoretical tools. The issue of ethnicity and the relationship between ethnicity and accounting should be more fruitfully explored in future. Research limitations/implications The authors acknowledge the challenges and limitations of discussing the issue of ethnicity from any particular cultural perspective and recognise the implicit dominance of White Anglo centric perspectives within accounting research. Originality/value The papers presented in the special issue illustrate that the issue of ethnicity is complex and difficult to operationalise. This paper highlights the potential to move beyond the ad hoc application of theoretical and methodological concepts to operationalise coherent concepts which challenge and extend the authors’ understanding of accounting as a social and contextual practice. But to achieve this it is necessary to more clearly integrate theory, methodology, method and critique.

Perception of ethical climate and turnover intention among nursing staff: does organizational cynicism mediate?

2018 ◽  
Vol 11 (5) ◽  
pp. 319-332 ◽  
Author(s):  
Yasin Munir ◽  
Muhammad Mudasar Ghafoor ◽  
Amran M.D. Rasli
Keyword(s):  
Nursing Staff ◽  
Turnover Intention ◽  
Ethical Climate ◽  
Sampling Technique ◽  
Mediating Effect ◽  
Equation Modeling ◽  
Content Type ◽  
Organizational Cynicism ◽  
Relationship Of ◽  
The Relationship

Purpose The purpose of this paper is to explore the mediating effect of organizational cynicism between the relationship of perception of ethical climate and turnover intention among nurses working in public sector hospitals. Design/methodology/approach A quantitative approach was utilized and 870 questionnaires were distributed to collect data from nursing staff working in Punjab region of Pakistan by using non-probability multistage sampling technique. A total of 711 questionnaires were returned out of which 668 questionnaires were scrutinized. Additionally, confirmatory factor analysis and structural equation modeling were applied to analyze the data. Findings The results revealed a full mediating effect of organizational cynicism between the relationship of perception of ethical climate and turnover intention. Research limitations/implications The current study has adopted a multistage non-probability sampling technique to collect data because the management of hospitals restricted researcher access to personal information about the nurses. Therefore, at the first stage, the researcher used convenience sampling and at the second stage, the researcher utilized quota sampling to collect the data. Moreover, the findings of the current study are based on cross-sectional data because of the limited time and resources. Practical implications The current study fosters the ongoing debate in organizational studies related to cynicism and it is noteworthy for the nursing managers to understand the significant factors which directly or indirectly affect the nursing attitude. Originality/value The current study explored the mediating role of organizational cynicism between perception of ethical climate and turnover intention in nursing profession to fill the research gap.

Mediation effect of novelty ecosystems on intrapreneurial behaviour process within an organisational dynamic environment among Kenyan universities

2017 ◽  
Vol 30 (6) ◽  
pp. 957-977 ◽  
Author(s):  
Moses Mpiima Kibirango ◽  
John C. Munene ◽  
Waswa J. Balunywa ◽  
Jovent K. Obbo
Keyword(s):  
Structural Equation ◽  
Sampling Technique ◽  
Integrated Approach ◽  
Positive Deviance ◽  
Mediation Effect ◽  
Future Research ◽  
Full Time ◽  
Snowball Sampling ◽  
Content Type ◽  
The Relationship

Purpose The purpose of this paper is to examine, explain, predict and guide the processes, mechanisms and outcomes of intrapreneurial behaviour to provide evidence that novelty ecosystems mediate the relationships between generative influence, positive deviance and intrapreneurial behaviour. It also enlightens the capacity of replicating the intrapreneurial best practices. Design/methodology/approach The study uses an integrated approach of entrepreneurship and complexity theories. Its subjects were full-time designated university employees in the Republic of Kenya. A total number of 244 employees were selected using snowball sampling technique from ten public and private universities in the Kenya. A self-administered questionnaire was used to collect data. Findings The structural equation modelling path analysis and the bootstrapping results confirmed full mediation of novelty ecosystems in the relationship between generative influence and intrapreneurial behaviour. The findings, further, verified that novelty ecosystems partially mediate the relationship between positive deviance and intrapreneurial behaviour. Research limitations/implications Subjective appraisals were used, despite the fact that studied variables are ultimately based on what employees perceive. Future research should generate and include more objective measures. Practical implications Intrapreneurial behaviour can only be explained and predicted through novelty ecosystems. University leaders need to fully understand and facilitate novelty ecosystems. Social implications A deeper understanding of the power of generative influence, positive deviance and novelty ecosystems will not be fully realized until researchers devote as much energy and attention to facilitation as has been devoted to conflict. Originality/value This study extends existing intrapreneurial research into complexity approach.

scholarly journals The secret of organisation success

2015 ◽  
Vol 4 (1) ◽  
pp. 27-36 ◽  
Author(s):  
Alma Maria Rodríguez-Sánchez ◽  
Maria Vera Perea
Keyword(s):  
Collective Efficacy ◽  
Point Of View ◽  
Behavioral Approach ◽  
Organizational Level ◽  
Content Type ◽  
Team Resilience ◽  
Multilevel Perspective ◽  
The Common ◽  
The Relationship ◽  
Resilience Capacity

Purpose – The concept of the “resilient organisation” has gained popularity as a concept that might aid organizations survive and thrive in difficult or volatile economic times. Knowing which factors may contribute to building organizational and team resilience is one of the questions that still remain unsolved. The purpose of this paper is to examine and review different conceptualisations of this emergent topic in the management literature, taking into account the common features of resilience capacity in organizations and teams. Design/methodology/approach – To examine the literature on resilience, the authors will focus on team resilience. The authors depart from the psychological-behavioral approach to study resilience and instead take a multilevel perspective (i.e. taking into account organizational and team factors). Findings – From a psychological-behavioral point of view the authors posit that there is a lack of research on which factors build team resilience. This review clarifies and relates independent and isolated studies on resilience taking into account the resources both at team and organizational level (i.e. collective efficacy, transformational leadership, teamwork, organizational practices) that build team resilience capacity. Research limitations/implications – Taking into account this review, future studies should analyze empirically the relationship between these factors that build up team resilience. Practical implications – With this review the authors try to provide guidance as to which aspects of the organization both research and practitioners should focus on. Originality/value – In sum, this literature review examines organizational and team factors that may build team resilience from a psychological-behavioral perspective, taking into account the multilevel view.

Corporate social responsibility as an effective promotional tool for the Malaysian halal certified companies in the era of Covid-19

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Haruna Babatunde Jaiyeoba ◽  
Shahoriyer Hossain ◽  
Hamzah Mohd Salleh ◽  
Amal A.M. Elgharbawy
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Sampling Technique ◽  
Legal Responsibility ◽  
Future Research ◽  
Content Type ◽  
Employee Welfare ◽  
Corporate Social ◽  
Profit Maximisation ◽  
The Relationship

Purpose This paper aims to intend to ascertain whether corporate social responsibility (CSR) can serve as an effective promotional tool for the Malaysian halal certified companies in the era of Covid-19 pandemic. Starting from being nice to do, the emergence of the Covid-19 pandemic has brought CSR to the forefront of businesses, forcing them to rapidly shift from profit maximisation to business preservation. Thus, it is practically crucial to ascertain whether CSR could be effectively used to promote halal brands in this era. Design/methodology/approach To achieve the stated aim, a survey questionnaire was developed and used to collect data from 295 participants who are familiar with the concepts of CSR and halal in Malaysia. The data collected were analysed using both descriptive and inferential statistics. Findings The findings reveal that the commitment to halal best practices, zakat and charitable donations, environmental responsibility, employee welfare and responsible dealings with clients are the most important CSR activities that can promote halal certified companies in the era of Covid-19. Whilst there is a positive relationship between halal economic responsibility and CSR as a promotional tool, such relationship is not significant. Nevertheless, the relationship between legal responsibility and CSR as a promotional tool is negative and insignificant. Research limitations/implications Limitations are inevitable in any study where a convenient sampling technique is used. Respondents from Klang Valley in Malaysia make up a large proportion of the study’s sample. This may consequently limit the generalisability of the findings of this study. Hence, future research should adequately collect data from other cities in Malaysia. Moreover, this paper does not differentiate between perceptions of Muslims and non-Muslims or between male and female; this might have an effect, as Muslims are likely to favour most of the items in the questionnaire used to collect data for this study. Thus, future research may collect sufficient data to shed more light on this issue. Originality/value The researchers have revealed that CSR is an effective promotional tool for the Malaysian halal certified companies in the era of Covid-19 pandemic. Study of this nature is rare in academic literature.

Thirty years of the Journal of Derivatives and Quantitative Studies: a bibliometric analysis

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jun Sik Kim ◽  
Sol Kim
Keyword(s):  
Bibliometric Analysis ◽  
Behavioral Finance ◽  
Implied Volatility ◽  
Impact Factors ◽  
Academic Journal ◽  
Content Type ◽  
Quantitative Studies ◽  
Korean Journal ◽  
And Cluster Analysis ◽  
The Relationship

PurposeThis paper aims to provide a retrospective on the Journal of Derivatives and Quantitative Studies (JDQS) on its 30th anniversary based on a bibliometric analysis.Design/methodology/approachThe authors use the performance analysis to analyze patterns in JDQS's publications, citations and citation indices over the years. To investigate the relationship among keywords and authors, the authors of this paper employ science mapping by analyzing keyword-level networks and author-level networks using the KCI- Korean Journal Database of WOS. The authors use VOSviewer for bibliographic analysis and cluster analysis at the keyword and author levels. To study the effect of JDQS articles' attributes on citations of the articles, the authors conduct a regression analysis with KCI data. The authors regress the citations for each article on the article's attributes.FindingsJDQS's yearly publications, citations, impact factors and centrality indices grew in the early 2010s before diminishing in 2020. Keyword network analysis reveals that JDQS's main keywords include behavioral finance, implied volatility, information asymmetry, price discovery, KOSPI200 futures, volatility and KOSPI200 options. Citations of JDQS articles are mainly driven by article age, demeaned age squared, conference, nonacademic authors and language. Based on the number of views and downloads of JDQS articles, the authors find that recent changes in publisher and editorial and publishing policies have increased the journal's visibility.Originality/valueThis study quantitatively analyzed the bibliographic information of papers published in JDQS, a representative Korean academic journal in the finance area. This confirms the academic contribution of JDQS over the past 30 years and provides implications for future strategies of the journal. It shows the patterns in JDQS's publications, citations and citation indices and identifies the main authors and most cited papers. However, there is no such bibliometric analysis on Korean financial journals; thus, this study can contribute to the literature in this point.

Antecedents of hedonism affecting memorable tourism experience (MTE) leading to revisit intention in tourists

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Abhijeet Vikramaditya Tiwari ◽  
Naval Bajpai ◽  
Deependra Singh ◽  
Vishal Vyas
Keyword(s):  
Structural Equation ◽  
Sampling Technique ◽  
Mediating Effect ◽  
Content Type ◽  
Significant Relationships ◽  
Revisit Intention ◽  
Tourism Experience ◽  
Main Component ◽  
Relationship Of ◽  
The Relationship

Purpose This study aims to examine the hedonism attributes, memorable tourism experience (MTE), revisit intention and their relationships. This study explores the antecedents of hedonism as physical environment, shopping at the destination, service quality, personalisation and exclusivity that influence MTE. The relationship of hedonism factors with revisit intention is also investigated in light of the mediation of MTE between them. Design/methodology/approach For this study, a sample of 600 tourists is collected by using the convenience sampling technique. The collected data is analysed by using the confirmatory factor analysis-structural equation modelling approach. Findings The empirically validated model recommends the significant relationships between the hedonism elements and revisits intention with the mediating effect of MTE. The findings suggest that tourists who positively perceive hedonism attributes are more likely to have positive MTEs, and they revisit the destination. Originality/value This research study examines the relationship of hedonism determinants with MTE of the tourists leading to their revisit intention for a tourism destination. It helps to understand MTE as the main component to affect tourists’ revisit intention for a destination and make sustainable tourism.

scholarly journals The development of trust over time in an emerging market context: the case of the Tunisian automotive sector

2019 ◽  
Vol 34 (6) ◽  
pp. 1210-1222 ◽  
Author(s):  
Tibor Mandják ◽  
Samy Belaid ◽  
Peter Naudé
Keyword(s):  
Emerging Market ◽  
Qualitative Interviews ◽  
Spare Parts ◽  
Point Of View ◽  
Business Relationship ◽  
Content Type ◽  
Perceived Trust ◽  
Emerging Country ◽  
The Relationship

Purpose The purpose of this paper is to empirically investigate how context influences the quality of business relationships. This theoretical question is studied from the point of view of trust, one of the important components of business relationship quality. The authors study how trust is related to the dynamics and management of the business relationship in the context of an emerging market. Design/methodology/approach This paper is based on qualitative interviews with 15 spare-parts resellers in the Tunisian automotive industry. The authors take a monadic view, interviewing resellers about their relationships with their wholesalers-importers. The decision to undertake the research in Tunisia is based on three factors. First, Tunisia is an emerging country and there is very little published research based in the Maghreb countries. Second, the Tunisian automotive parts market structure is relatively simple and, hence, easily understood, with most spare-parts being imported because of the low level of local production. Third, the actors in the study are all Tunisian companies, so research allows us to explore relationships between local companies in an emerging country. Findings The authors find that different kinds of trust play different roles over the dynamics of the relationship. Perceived trust is more important at the emergent stage of a relationship, and as the two parties learn from each other, experienced trust becomes more important in the established relationships. The initial perceived trust creates the possibility of building trust, and when mutual trust exists between the parties, it motivates them to maintain the relationship, but there is always the threat of the degradation of the quality of the relationship because of the violation or destruction of the trust. Research limitations/implications This paper shows that more care should be taken when using trust as the variable under scrutiny. Different aspects of trust manifest themselves at various stages of the relationship building cycle. Practical implications The results emphasize that when initiating a business relationship, managers first need to create perceived trust. Thereafter, once trust is built up, it is the trust that may “manage” or act to control the on-going relationship as long as the partners’ behavior or network changes do not violate the trust. Originality/value The results of this paper show that there is a mutual but not necessarily symmetrical or balanced influence of trust on the behavior of the partners involved. The influence of the different parties is dependent on the power architecture, the history of the relationship and the network position of the actors.

Security behaviour of mobile financial service users

2020 ◽  
Vol 28 (5) ◽  
pp. 719-741
Author(s):  
Esther Dzidzah ◽  
Kwame Owusu Kwateng ◽  
Benjamin Kofi Asante
Keyword(s):  
Financial Services ◽  
Structural Equation ◽  
Sampling Technique ◽  
Substantial Effect ◽  
Equation Model ◽  
Sub Saharan Africa ◽  
Content Type ◽  
Avoidance Motivation ◽  
Threat Avoidance ◽  
User Security

Purpose The inception of mobile financial services (MFSs) has positively provoked economic growth and productivity, nonetheless, it has pessimistically caused an upward surge in cybersecurity threat. Customers are progressively becoming conscious of some of the threat and several of them now shun away from some suspicious activities over the internet as a form of protection. This study aims to explore the factors that influence users’ to adopt security behaviour. Design/methodology/approach A synthesis of theories – Self-efficacy and technology threat avoidance theories – was used to examine the security behaviour of users of MFSs. Data was gathered from 530 students in Ghana using convenience sampling technique. Data analysis was carried out using descriptive statistics, inferential statistics and structural equation model. Findings Outcome of the investigation indicate that both mastery experience and verbal persuasion have substantial effect on the avoidance motivation of MFSs users. It was, however, found that emotional state and vicarious experience of users do not influence their avoidance motivation. Also, it was established that avoidance motivation is a positive prognosticator of avoidance behaviour. Practical implications Understanding the security behaviour of MFS users will help the operators to outline strategies to sustain the successes achieved. Originality/value Studies on user security behaviour are rare, especially in sub Saharan Africa, thus, this study will contribute to extant literature by adding a new dimension of user security behaviour.

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