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Article
Publication date: 2 June 2022

Sally Peaches Owusu and Esther Laryea

The objective of this paper is to explore how anchoring affects the dynamics of investor decision-making with regard to mutual funds and how this bias differs amongst…

Abstract

Purpose

The objective of this paper is to explore how anchoring affects the dynamics of investor decision-making with regard to mutual funds and how this bias differs amongst gender and level of financial knowledge.

Design/methodology/approach

An experimental research design was adopted to uncover the relationship between the variables under study; this involved the use of a questionnaire with an embedded experiment. Data obtained from the study were analysed using Pearson's chi-square test and two-way analysis of variance.

Findings

The findings show that, overall, investors were prone to be significantly influenced by the anchoring bias. The study finds a strong, albeit not significant, association between participants' susceptibility to anchor and both gender and the level of financial knowledge of participants. Females were observed to be more likely to anchor than their male counterparts. Also, a higher level of financial knowledge did not help to reduce the possibility of anchoring; it rather increased it.

Research limitations/implications

The findings of the study cannot be interpreted as suggesting causality as the study only tests for association between variables and not causality. Additionally, external validity cannot be fully established as a result of the quasi-experiment approach used.

Practical implications

The study adds to the body of knowledge on the influences of behavioural biases in the sub-region to make investors aware of their biases in order to minimise the influence of these biases on their investment decisions.

Originality/value

This study differs from earlier studies in that it analyses the presence of anchoring as influenced by a completely different set of variables (expertise and gender) and also does it within the context of an African country where there remains a paucity of research on behavioural finance.

Details

Review of Behavioral Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1940-5979

Keywords

Article
Publication date: 1 April 1998

Jane Yarnall

Career anchor theory developed by Ed Schein in 1978 has been subject to limited further research, despite being widely used as a career tool within organisations. This…

5022

Abstract

Career anchor theory developed by Ed Schein in 1978 has been subject to limited further research, despite being widely used as a career tool within organisations. This article describes the importance of career anchor data for organisational as opposed to individual use and reports on a study of the career anchors of 374 employees in the UK. The results show that age, gender and length of service have no significant effect on the distribution of anchors, although there are grade‐related differences. Suggestions are made on how career anchor distribution data could be used by organisations to determine appropriate career development strategies.

Details

Career Development International, vol. 3 no. 2
Type: Research Article
ISSN: 1362-0436

Keywords

Article
Publication date: 1 September 2004

Lidija Frgić, Pavao Marović and Krešimir Tor

This paper discusses the pullout capacity of spatial anchors in soil under applied vertical force. In field tests, the pullout forces were gradually increased and the…

Abstract

This paper discusses the pullout capacity of spatial anchors in soil under applied vertical force. In field tests, the pullout forces were gradually increased and the ground surface displacements measured in two profiles perpendicular to each other. The laboratory and field tests were performed for several embedment depths and anchor diameter ratios in the same sand and under the same conditions. The anchor pulling was also laboratory‐tested so that the vertical anchor displacements were given and the corresponding force intensity measured. The finite element method was used for the pullout force computation in test cases. The relations between displacements and pullout forces obtained by the laboratory tests, field tests and numerical computations were statistically analysed. Owing to gradual convergence of pullout forces towards the limit value, the exponential function was adopted as an approximation curve. The two obtained constants of the function represent the significant mechanical characteristics. The first is limit pullout force and the second gives the total stiffness of the soil mechanical system.

Details

Engineering Computations, vol. 21 no. 6
Type: Research Article
ISSN: 0264-4401

Keywords

Abstract

Details

Stem-Professional Women’s Exclusion in the Canadian Space Industry
Type: Book
ISBN: 978-1-78769-570-2

Abstract

Details

Stem-Professional Women’s Exclusion in the Canadian Space Industry
Type: Book
ISBN: 978-1-78769-570-2

Article
Publication date: 29 March 2022

Tijun Fan, Le Wang and Yang Song

With the booming of live commerce, sellers provide products through not only their traditional channels but also the anchors who show products by live broadcast, forming a…

Abstract

Purpose

With the booming of live commerce, sellers provide products through not only their traditional channels but also the anchors who show products by live broadcast, forming a live commerce supply chain. In fact, such selling mode generates two effects: the live broadcast service of the anchor affects the return rate of products sold live (live commerce effect) and related products of the manufacturer sold via its own channel (live commerce spillover effect). In this paper, the authors investigate the impacts of both live commerce and live commerce spillover effect on the price decisions as well as the anchor's service effort.

Design/methodology/approach

The authors establish a live commerce supply chain model where the manufacturer sells related products directly and by the anchor with a wholesale price contract. The manufacturer decides the price of product sold directly based on the anchor's broadcast effort since there exists the live commerce spillover effects. Backward induction is used to solve the Stackelberg game between the manufacturer and the anchor.

Findings

The results show that (1) the existence of the live commerce spillover effect brings more profit to the manufacturer while it reduces the anchor's profit. Moreover, the total profit of the live commerce supply chain first decreases and then increases as the intensity of the live commerce spillover effect improves. (2) The pricing of products sold directly by the manufacturer and sold through the anchor is nonmonotonic with respect to the live commerce spillover effect. (3) The increase in return cost always leads to an increase in the profit of the anchor, whether it is borne by the anchor or by the consumer. (4) If the baseline return probability is high, the anchor should increase her effort, thus securing more profit. However, the spillover effect of live commerce and the horizontal differences between products will discourage the anchor from increasing the live streaming service level.

Originality/value

The study proposes the live commerce supply chain model where the anchor balances the cost and benefit of her live broadcast effort, which lowers the consumers expected return possibility. In addition the live commerce spillover effect is introduced, reducing the expected return rate for the related products without live broadcast (in the direct channel). With the inter-influence of live commerce, the price competition between the live anchor and the manufacturer becomes more complex. By solving the typical live commerce game model, managerial insights are given for the decision makers among the live commerce supply chain.

Details

Industrial Management & Data Systems, vol. 122 no. 4
Type: Research Article
ISSN: 0263-5577

Keywords

Book part
Publication date: 23 July 2020

Barbara S. White, Bruce I. Davidson and Zoe Cullen

Schein (1985) defines a career anchor as a person's perceived area of competence, values, and motives that he or she would not want to forfeit when faced with a career…

Abstract

Schein (1985) defines a career anchor as a person's perceived area of competence, values, and motives that he or she would not want to forfeit when faced with a career decision that might prevent him or her from fulfilling it. Hardin, Stocks and Graves (2001) utilized Schein's Career Orientation Inventory to determine the predominant career anchors of Certified Public Accountants (CPAs) and to investigate the relationship of CPA career anchor and job setting. This chapter builds on the Hardin et al. study and focuses on the younger professional accountant. This younger generation of accountants are part of the millennial generation, which prior research has indicated vary significantly in their wants, values, and desires for an employment situation. Based on the survey results, 46.1% of the millennials possess a Lifestyle career anchor, 18.0% possess a Security career anchor, and 12.4% possess a Service career anchor. Each of the other five career anchors were selected by fewer than 8.0% of the respondents. The results suggest the career anchors of today's millennial professional accountants differ from those of professional accountants some 15 years ago. In particular, the Security career anchor is far more prevalent than in the past, which suggests millennial accountants have an increased interest in job security. This research provides important information to organizations seeking to recruit and retain young accounting professionals. Similarly, young professionals should be aware of their career anchor, so they can manage their career choices, rather than conform to choices that others make for them.

Details

Advances in Accounting Behavioral Research
Type: Book
ISBN: 978-1-83867-402-1

Keywords

Article
Publication date: 2 February 2022

Michelle Mielly and Amanda Peticca-Harris

This qualitative study explores, through the lens of Schein's (1978) career anchor theory, the internal career perceptions (self-perceived values, challenges and…

Abstract

Purpose

This qualitative study explores, through the lens of Schein's (1978) career anchor theory, the internal career perceptions (self-perceived values, challenges and capabilities) of local surf workers in the highly internationalized sector of surf tourism in Nicaragua.

Design/methodology/approach

Semi-structured interviews were carried out with 22 local surf tourism workers. Participant experiences were analyzed using thematic analysis to distinguish their career anchor orientations.

Findings

The results indicate the sustained value and instrumentality of Schein's original career anchor theory, specifically in terms of the interconnectedness of dominant and supporting anchors and the relevance of anchor groupings for workers in non-standard working environments. The anchors of lifestyle, entrepreneurial creativity, and security and stability were closely interrelated and complementary, as participants from this context were ultimately striving for security and stability.

Research limitations/implications

Future research should consider more explicitly the role of the socio-political, environmental or economic context in shaping the internal career self-concepts and experiences of workers.

Practical implications

This study sheds light on the internal career drivers — the unique dilemmas, challenges, passions and motives — of local workers in a resource-constrained environment. Managers, business owners and other economic actors stand to gain important insights into the realities of workers they employ, but do not intimately understand. Such insights could be generalizable to a variety of work settings in which there are high material, social or cultural constraints.

Social implications

Non-standard work contexts and local worker voices are both thematically underrepresented in the careers scholarship. Research on these topics can contribute to broader discussions of sustainability, sustainable development goals and decolonial perspectives in social science scholarship. Bringing local workers from the Global South into view means turning scholarly attention towards less-visible “others” working alongside those having received the lion's share of academic discussion, i.e. expatriate workers on a global assignment or self-initiated expatriates, most often from the Global North.

Originality/value

This is one of the first studies to explore the career anchors of local workers in the Global South in a non-standard, non-bureaucratic vocational setting. The study sheds light on local workers' career decisions, an often-neglected perspective within international human resource management.

Details

Career Development International, vol. 27 no. 2
Type: Research Article
ISSN: 1362-0436

Keywords

Article
Publication date: 17 May 2021

Abhishek Kumar and Seshadev Sahoo

Anchor investor (AI) regulation was introduced in 2009 by the Indian market regulator Securities and Exchange Board of India to facilitate the price discovery process…

Abstract

Purpose

Anchor investor (AI) regulation was introduced in 2009 by the Indian market regulator Securities and Exchange Board of India to facilitate the price discovery process during the book-building mechanism. This study aims to examine the aftermarket pricing performance of initial public offering (IPO) firms over the long-run period of up to 36 months after the listing date in the anchor investor regime.

Design/methodology/approach

The post-issue performance of 129 Indian IPOs issued from 2009 to 2014 is studied by using buy and hold abnormal returns, cumulative abnormal returns and wealth relatives approaches. This study presents the aftermarket performance indicators of Indian IPOs along with the comparative analysis between anchor-backed and non-anchor-backed IPO categories. Using multiple regression analysis, this study identifies the firm-level variables and issue characteristics that can explain long-term IPO performance.

Findings

This study reports that Indian IPOs continue to underperform in the long run in the anchor regulation era as well. However, anchor-backed IPOs are reported to underperform lesser than the IPOs not backed by anchor investment. Additionally, this study documents that the variables, i.e. offer size, grade, post-issue promoter holding and IPOs issued during hot IPO periods, are significant in explaining the 36-month aftermarket performance.

Originality/value

This study investigates the long-run aftermarket pricing performance of anchor affiliated IPOs in the Indian market context. Thus, it contributes to the limited primary markets’ research from emerging economies. Further, the results provide fresh evidence reaffirming the credibility of AI as an institutional investor for attestation of quality of the issues.

Details

Pacific Accounting Review, vol. 33 no. 3
Type: Research Article
ISSN: 0114-0582

Keywords

Article
Publication date: 30 April 2021

Marcin Roszkowski and Bartłomiej Włodarczyk

The paper aims to present the development of conceptualization of coronavirus disease 2019 (COVID-19) based on associations with other articles on English edition of…

Abstract

Purpose

The paper aims to present the development of conceptualization of coronavirus disease 2019 (COVID-19) based on associations with other articles on English edition of Wikipedia. The main goal of the paper is to study the social organization of knowledge about COVID-19 within the Wikipedia community of practice.

Design/methodology/approach

The methodological approach taken in this study was based on the application of Moscovici's theory of social representations to Wikipedia's knowledge organization system (KOS). Internal links in the Wikipedia article about COVID-19 were considered anchors in its social representations. Each link in the introductory part of the article was considered an indicator of the semantic relationship between COVID-19 and other concepts from Wikipedia's knowledge base. The subject of this study was links extracted from all revisions of the COVID-19 article between February and September 2020. Qualitative and quantitative analyses were performed on these conceptual structures using both synchronic and diachronic approaches.

Findings

It was found that the evolution of anchors in the Wikipedia article on COVID-19 was in line with the mechanism of symbolic coping related to infectious disease. It went through stages of divergence, convergence and normalization. It shows that this mechanism governs the social organization of knowledge related to COVID-19 on Wikipedia.

Originality/value

No studies have been devoted to the image of COVID-19 as presented by the evolution of links in Wikipedia and its implications for knowledge organization (KO).

Details

Journal of Documentation, vol. 78 no. 2
Type: Research Article
ISSN: 0022-0418

Keywords

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