Beyond existential and neoliberal explanations of consumers’ embodied risk-taking: CrossFit as an articulation of reflexive modernization

2021 ◽  
pp. 146954052110620
Author(s):  
Craig J Thompson ◽  
Anil Isisag

This study analyzes CrossFit as a marketplace culture that articulates several key dimensions of reflexive modernization. Through this analysis, we illuminate a different set of theoretical relationships than have been addressed by previous accounts of physically challenging, risk-taking consumption practices. To provide analytic clarity, we first delineate the key differences between reflexive modernization and the two interpretive frameworks—the existential and neoliberal models—that have framed prior explanations of consumers’ proactive risk-taking. We then explicate the ways in which CrossFit’s marketplace culture shapes consumers’ normative understandings of risk and their corresponding identity goals. Rather than combatting modernist disenchantment (i.e., the existential model) or building human capital for entrepreneurial competitions (i.e., the neoliberal model), CrossFit enthusiasts understand risk-taking as a means to build their preparatory fitness for unknown contingencies and imminent threats. Our analysis bridges a theoretical chasm between studies analyzing consumers’ proactive risk-taking behavior and those addressing the feelings of anxiety and uncertainty induced by the threat of uncontrollable systemic risks.

2018 ◽  
Vol 44 (4) ◽  
pp. 459-477 ◽  
Author(s):  
Santi Gopal Maji ◽  
Preeti Hazarika

Purpose The purpose of this paper is to investigate the association between capital regulation and risk-taking behavior of Indian banks after incorporating the influence of competition. Further, the study intends to enrich the existing literature by providing empirical evidence on the role of human resources in managing risk along with the influence of other bank specific and macroeconomic variables. Design/methodology/approach Secondary data on 39 listed Indian commercial banks are collected from “Capitaline Plus” corporate data database for a period of 15 years. Capital is measured by capital adequacy ratio as defined by the regulators, and two definitions of risk – credit risk and insolvency risk – are employed. Competition is measured by Herfindahl-Hirschman deposits index, concentration ratio and H-statistic. The value-added intellectual coefficient model is employed to compute human capital efficiency (HCE). Three-stage least squares technique in a simultaneous equation framework is used to estimate the coefficients. Findings The study finds that absolute level of regulatory capital and bank risk are positively associated, although the influence of capital on risk is not statistically significant. The influence of competition on risk is negative for all the models, which supports the “competition stability” view. The impact of human capital on bank risk is also negative for all cases. Practical implications The findings of the study are useful for the decision makers in several ways based on the inverse influence of competition and HCE on bank risk. Further, the observed positive association between capital and risk indicates that the capital regulation is not sufficient to enhance the stability in the banking sector. Originality/value This is the first study in the Indian context that incorporates the competition in the banking industry as an explanatory variable in the extant bank capital and risk relationship.


Author(s):  
Thomas Plieger ◽  
Thomas Grünhage ◽  
Éilish Duke ◽  
Martin Reuter

Abstract. Gender and personality traits influence risk proneness in the context of financial decisions. However, most studies on this topic have relied on either self-report data or on artificial measures of financial risk-taking behavior. Our study aimed to identify relevant trading behaviors and personal characteristics related to trading success. N = 108 Caucasians took part in a three-week stock market simulation paradigm, in which they traded shares of eight fictional companies that differed in issue price, volatility, and outcome. Participants also completed questionnaires measuring personality, risk-taking behavior, and life stress. Our model showed that being male and scoring high on self-directedness led to more risky financial behavior, which in turn positively predicted success in the stock market simulation. The total model explained 39% of the variance in trading success, indicating a role for other factors in influencing trading behavior. Future studies should try to enrich our model to get a more accurate impression of the associations between individual characteristics and financially successful behavior in context of stock trading.


2014 ◽  
Author(s):  
Ari B. Deutsch ◽  
Michael Koren ◽  
Rachel Moody

2012 ◽  
Author(s):  
K. Bryant Smalley ◽  
Jacob C. Warren ◽  
Lisa Watson-Johnson ◽  
Nikki Barefoot ◽  
Sean Fowler

2010 ◽  
Author(s):  
Stacy Simonsen ◽  
Krista Fritson ◽  
Katharine A. Mcintyre ◽  
Shawna Mowrer

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