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1 – 10 of 39Ilaria Galavotti, Andrea Lippi and Daniele Cerrato
This paper aims to develop a conceptual framework on how the representativeness heuristic operates in the decision-making process. Specifically, the authors unbundle…
Abstract
Purpose
This paper aims to develop a conceptual framework on how the representativeness heuristic operates in the decision-making process. Specifically, the authors unbundle representativeness into its building blocks: search rule, stopping rule and decision rule. Furthermore, the focus is placed on how individual-level cognitive and behavioral factors, namely experience, intuition and overconfidence, affect the functioning of this heuristic.
Design/methodology/approach
From a theoretical standpoint, the authors build on dual-process theories and on the adaptive toolbox view from the “fast and frugal heuristics” perspective to develop an integrative conceptual framework that uncovers the mechanisms underlying the representativeness heuristic.
Findings
The authors’ conceptualization suggests that the search rule used in representativeness is based on analogical mapping from previous experience, the stopping rule is the representational stability of the analogs and the decision rule is the choice of the alternative upon which there is a convergence of representations and that exceeds the decision maker's aspiration level. In this framework, intuition may help the decision maker to cross-map potentially competing analogies, while overconfidence affects the search time and costs and alters both the stopping and the decision rule.
Originality/value
The authors develop a conceptual framework on representativeness, as one of the most common, though still poorly investigated, heuristics. The model offers a nuanced perspective that explores the cognitive and behavioral mechanisms that shape the use of representativeness in decision-making. The authors also discuss the theoretical implications of their model and outline future research avenues that may further contribute to enriching their understanding of decision-making processes.
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Flavia Cristina Silva, Fabio Ytoshi Shibao, Isak Kruglianskas, José Carlos Barbieri and Paulo Antonio Almeida Sinisgalli
In total, 19 practices of circular economy divided into three groups, internal environmental management, ecological design and investment recovery were studied in a local network…
Abstract
Purpose
In total, 19 practices of circular economy divided into three groups, internal environmental management, ecological design and investment recovery were studied in a local network composed of small companies and individual entrepreneurs related to common product and by-product flows. The paper aims to discuss these issues.
Design/methodology/approach
This research presents an applied nature, is characterized as exploratory and adopted the case study as a technical procedure using sources and methods of data collection. The primary data were collected through direct observation of the processes and semi-structured interviews with managers and owners.
Findings
The most widespread practices are related to product design. However, in most cases, the implementation was punctual and did not present continuous and corresponding actions, which highlights the embryonic contours of European Commission (EC) in the observed network. The practices from the management category were less observed, which revels the environmental variable is not included in the strategic business planning.
Research limitations/implications
The research documents the application of CE practices in a local network and brings this current paradigm shift to the Brazilian context.
Practical implications
To overcome barriers to the implementation of EC practices, it is suggested to restructure commercial relations, to formulate public policies and to develop infrastructures that facilitate the materiality of flows and the market.
Social implications
The study highlights the need of public policies that promotes cross-sectoral cooperation in accordance with NSWP objectives.
Originality/value
Despite the focus on EC implemented practices this study offers a framework of the research routes on the main barriers and suggests actions to overcome the challenges in the transition from the economy to the circular model.
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This paper aims to verify whether the integration of sustainability in executive compensation positively affects firms’ non-financial performance and whether corporate governance…
Abstract
Purpose
This paper aims to verify whether the integration of sustainability in executive compensation positively affects firms’ non-financial performance and whether corporate governance characteristics enhance the relationship between sustainability compensation and firms’ non-financial performance and to expand the domain of the impact of sustainability on non-financial performance.
Design/methodology/approach
This analysis is based on a sample of companies listed on the Milan Italian Stock Exchange from the Financial Times Milan Stock Exchange Index over the 2016–2020 period. Regression analysis was used by using data retrieved from the Refinitiv Eikon database and the sample firms’ remuneration reports.
Findings
The findings of this paper show that embedding sustainability in executive compensation positively affects firms’ non-financial performance. The results of this paper also reveal that specific corporate governance features can improve the impact of sustainability on non-financial performance.
Research limitations/implications
This analysis is limited to Italian firms included in the Financial Times Milan Stock Exchange Index; however, the findings are highly significant.
Practical implications
The findings provide regulators with useful insights for considering the integration of sustainability goals into executive remuneration. Another implication is that policymakers should require – at least – listed firms to fulfil specific corporate governance structural requirements. Finally, the findings can provide investors and financial analysts with a greater awareness of the role played by executive remuneration in the long-term value-creation process.
Originality/value
This paper contributes to addressing the relationship among sustainability, remuneration and non-financial disclosure, drawing on the stakeholder–agency theoretical framework and focusing on Italian firms. This issue has received limited attention with controversial results in the literature.
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Cortney L. Norris, Scott Taylor Jr and D. Christopher Taylor
The purpose of this systematic review is to highlight some of the business model changes restaurants, bars and beverage producers undertook to modify their operations in order to…
Abstract
Purpose
The purpose of this systematic review is to highlight some of the business model changes restaurants, bars and beverage producers undertook to modify their operations in order to not only stay in business but also to better serve their employees and communities during the COVID-19 crisis.
Design/methodology/approach
An analysis was conducted on 200 industry articles and categorized into three major themes: expansion of take-out/delivery, innovative practices, and community outreach/corporate support, each are further subdivided into additional themes. The systematic review is further supported by personal interviews with industry professionals.
Findings
This research finds that there were many different approaches used in adjusting business models in response to the dining restrictions put in place due to COVID-19. From these approaches, themes were developed which resulted in uncovering some suggestions such as developing contingency plans, being flexible and creative, eliminating menu items, investing in a communication platform and getting involved with local government. In addition, some practices operators should be mindful of such as selling gift cards and starting a crowdfund.
Research limitations/implications
This research provides a systematic analysis of business model changes that occurred due to COVID-19 dining restrictions. Researchers can use this information as a guide for further analysis on a specific theme introduced herein.
Practical implications
This research offers several practical implications which will assist the industry should another similar event occur in the future. The systematic analysis describes and documents some suggestions as well as practices to be mindful of in preparing contingency plans for the future.
Originality/value
This research documents an unprecedented time for the hospitality industry by examining how restaurant, bar and beverage producers around the country responded to COVID-19 restrictions. Distilling the multitude of information into succinct themes that highlight the business model changes that occurred will aid future research as well as operators.
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Wilda Sitorus, Saib Suwilo and Mardiningsih
Hamming distance of a two bit strings u and v of length n is defined to be the number of positions of u and v with different digit. If G is a simple graph on n vertices and m…
Abstract
Hamming distance of a two bit strings u and v of length n is defined to be the number of positions of u and v with different digit. If G is a simple graph on n vertices and m edges and B is an edge–vertex incidence matrix of G, then every edge e of G can be labeled using a binary digit string of length n from the row of B which corresponds to the edge e. We discuss Hamming distance of two different edges of the graph G. Then, we present formulae for the sum of all Hamming distances between two different edges of G, particularly when G is a path, a cycle, and a wheel, and some composite graphs.
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Luigi Nasta, Barbara Sveva Magnanelli and Mirella Ciaburri
Based on stakeholder, agency and institutional theory, this study aims to examine the role of institutional ownership in the relationship between environmental, social and…
Abstract
Purpose
Based on stakeholder, agency and institutional theory, this study aims to examine the role of institutional ownership in the relationship between environmental, social and governance practices and CEO compensation.
Design/methodology/approach
Utilizing a fixed-effect panel regression analysis, this research utilized a panel data approach, analyzing data spanning from 2014 to 2021, focusing on US companies listed on the S&P500 stock market index. The dataset encompassed 219 companies, leading to a total of 1,533 observations.
Findings
The analysis identified that environmental scores significantly impact CEO equity-linked compensation, unlike social and governance scores. Additionally, it was found that institutional ownership acts as a moderating factor in the relationship between the environmental score and CEO equity-linked compensation, as well as the association between the social score and CEO equity-linked compensation. Interestingly, the direction of these moderating effects varied between the two relationships, suggesting a nuanced role of institutional ownership.
Originality/value
This research makes a unique contribution to the field of corporate governance by exploring the relatively understudied area of institutional ownership's influence on the ESG practices–CEO compensation nexus.
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This article considers how digital technologies are informed by, and implicated in, the systematic and interlocking oppressions of colonialism, misogyny, and racism, all of which…
Abstract
This article considers how digital technologies are informed by, and implicated in, the systematic and interlocking oppressions of colonialism, misogyny, and racism, all of which have been identified as root causes of the missing and murdered Indigenous women crisis in Canada. The authors consider how technology can facilitate multiple forms of violence against women including stalking and intimate partner violence, human trafficking, pornography and child abuse images, and online hate and harassment and note instances where Indigenous women and girls may be particularly vulnerable. The authors also explore some of the complexities related to police use of technology for investigatory purposes, touching on police use of social media and DNA technology. Without simplistically blaming technology, the authors argue that technology interacts with multiple factors in the complex historical, socio-cultural environment that incubates the national crisis of missing and murdered Indigenous women and girls. The article concludes with related questions that may be considered at the impending national inquiry.
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This study aims to explore aesthetic atmospheres and their affordances in urban squares to advance knowledge on the research and design of attractive living environments.
Abstract
Purpose
This study aims to explore aesthetic atmospheres and their affordances in urban squares to advance knowledge on the research and design of attractive living environments.
Design/methodology/approach
Descriptions of pleasant and unpleasant experiences of urban squares were collected using qualitative questionnaires with open-ended questions. The theoretical framework and the lens of aesthetic affordances were applied to pinpoint and understand the connections between the place attributes and experiences.
Findings
This study found four distinct aesthetic atmospheres formed by perceived synergies of both the material and immaterial aspects of the environment. It was also found that the atmospheres may shift. A model that shows the aesthetic atmospheres and their potential affordances as layered and emerging is presented.
Research limitations/implications
Everyday aesthetics considered as affordances open new research perspectives for the understanding of what generates attractive living environments – or not.
Practical implications
Aesthetics affordances may provide the design professionals and alike means on how to design places that engender specific aesthetic atmosphere.
Social implications
Gathering and discussing commonplace aesthetic experiences in everyday life may enhance democratic participation in place development among people with different levels of design expertise.
Originality/value
This study combines theories of place with a novel concept of aesthetic affordances to identify distinct aesthetic atmospheres. A holistic overview structure of how the various constituents of aesthetic atmospheres relate to each other provides new ways of studying and understanding urban aesthetic atmospheres.
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Zheng Xu, Yihai Fang, Nan Zheng and Hai L. Vu
With the aid of naturalistic simulations, this paper aims to investigate human behavior during manual and autonomous driving modes in complex scenarios.
Abstract
Purpose
With the aid of naturalistic simulations, this paper aims to investigate human behavior during manual and autonomous driving modes in complex scenarios.
Design/methodology/approach
The simulation environment is established by integrating virtual reality interface with a micro-simulation model. In the simulation, the vehicle autonomy is developed by a framework that integrates artificial neural networks and genetic algorithms. Human-subject experiments are carried, and participants are asked to virtually sit in the developed autonomous vehicle (AV) that allows for both human driving and autopilot functions within a mixed traffic environment.
Findings
Not surprisingly, the inconsistency is identified between two driving modes, in which the AV’s driving maneuver causes the cognitive bias and makes participants feel unsafe. Even though only a shallow portion of the cases that the AV ended up with an accident during the testing stage, participants still frequently intervened during the AV operation. On a similar note, even though the statistical results reflect that the AV drives under perceived high-risk conditions, rarely an actual crash can happen. This suggests that the classic safety surrogate measurement, e.g. time-to-collision, may require adjustment for the mixed traffic flow.
Research limitations/implications
Understanding the behavior of AVs and the behavioral difference between AVs and human drivers are important, where the developed platform is only the first effort to identify the critical scenarios where the AVs might fail to react.
Practical implications
This paper attempts to fill the existing research gap in preparing close-to-reality tools for AV experience and further understanding human behavior during high-level autonomous driving.
Social implications
This work aims to systematically analyze the inconsistency in driving patterns between manual and autopilot modes in various driving scenarios (i.e. multiple scenes and various traffic conditions) to facilitate user acceptance of AV technology.
Originality/value
A close-to-reality tool for AV experience and AV-related behavioral study. A systematic analysis in relation to the inconsistency in driving patterns between manual and autonomous driving. A foundation for identifying the critical scenarios where the AVs might fail to react.
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Yuanzhuo Zhu, Zhihua Zhang and M. James C. Crabbe
Climatic extreme events are predicted to occur more frequently and intensely and will significantly threat the living of residents in arid and semi-arid regions. Therefore, this…
Abstract
Purpose
Climatic extreme events are predicted to occur more frequently and intensely and will significantly threat the living of residents in arid and semi-arid regions. Therefore, this study aims to assess climatic extremes’ response to the emerging climate change mitigation strategy using a marine cloud brightening (MCB) scheme.
Design/methodology/approach
Based on Hadley Centre Global Environmental Model version 2-Earth System model simulations of a MCB scheme, this study used six climatic extreme indices [i.e. the hottest days (TXx), the coolest nights (TNn), the warm spell duration (WSDI), the cold spell duration (CSDI), the consecutive dry days (CDD) and wettest consecutive five days (RX5day)] to analyze spatiotemporal evolution of climate extreme events in the arid Sahara-Sahel-Arabian Peninsula Zone with and without MCB implementation.
Findings
Compared with a Representative Concentration Pathways 4.5 scenario, from 2030 to 2059, implementation of MCB is predicted to decrease the mean annual TXx and TNn indices by 0.4–1.7 and 0.3–2.1°C, respectively, for most of the Sahara-Sahel-Arabian Peninsula zone. It would also shorten the mean annual WSDI index by 118–183 days and the mean annual CSDI index by only 1–3 days, especially in the southern Sahara-Sahel-Arabian Peninsula zone. In terms of extreme precipitation, MCB could also decrease the mean annual CDD index by 5–25 days in the whole Sahara and Sahel belt and increase the mean annual RX5day index by approximately 10 mm in the east part of the Sahel belt during 2030–2059.
Originality/value
The results provide the first insights into the impacts of MCB on extreme climate in the arid Sahara-Sahel-Arabian Peninsula zone.
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