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Article
Publication date: 18 August 2021

Thomas D. Willett

This study aims to critically review recent contributions to the methodology of financial economics and discuss how they relate to one another and directions for further research.

Abstract

Purpose

This study aims to critically review recent contributions to the methodology of financial economics and discuss how they relate to one another and directions for further research.

Design/methodology/approach

A critical review of recent literature on new methodologies for financial economics.

Findings

Recent books have made important contributions to the study of financial economics. They suggest new approaches that include an emphasis on radical uncertainty, adaptive markets, agent-based modeling and narrative economics, as well as extensions of behavioral finance to include concepts such as diagnostic expectations. Many of these contributions can be seen more as complements than substitutes and provide fruitful directions for further research. Efficient markets can be seen as holding under particular circumstances. A major them of most of these contributions is that the study of financial crises and other aspects of financial economics requires the use of multiple theories and approaches. No one approach will be sufficient.

Research limitations/implications

There are great opportunities for further research in financial economics making use of these new approaches.

Practical implications

These recent contributions can be quite useful for improved analysis by researchers, private participants in the financial sector and macroeconomic and regulatory officials.

Originality/value

Provides an introduction to these new approaches and highlights fruitful areas for their extensions and applications.

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Article
Publication date: 31 May 2019

Aditya Sharma and Arya Kumar

This paper participates in the debate on market efficiency and correct approach for asset pricing through a comprehensive review of literature in favor, as well as against…

Abstract

Purpose

This paper participates in the debate on market efficiency and correct approach for asset pricing through a comprehensive review of literature in favor, as well as against the long held belief of market efficiency. The purpose of this paper is to understand emerging trends in behavioral finance and establish its future potential as a mainstream alternative theory of asset pricing.

Design/methodology/approach

The review and discussion of literature is mainly divided into three different sections that are –theories supporting efficient market hypothesis (EMH); studies providing evidences from the stock market on the failure of EMH and studies on behavioral finance, discussing separately investors’ behavioral biases keeping in mind their effect on stock prices; and providing empirical evidences on the effect of investor sentiment on stock prices.

Findings

The review of literature from both the point of views has helped in understanding the market efficiency issue and changing dynamics of asset pricing approach. This is achieved by highlighting the gaps in the concept of market efficiency and also suggesting how these gaps can be bridged with a superior approach such as behavioral finance. Through further discussion of emerging trends in behavioral finance, the paper also points out gaps and how these can be abridged, for behavioral finance to be accepted as a mainstream alternative approach to EMH.

Originality/value

This is an extensive and one of a kind study that discusses market efficiency through discussion of EMH and behavioral finance side by side. With the help of such a study, researchers can precisely understand the need and can focus on the future course of action to make behavioral finance a mainstream approach to asset pricing.

Details

Qualitative Research in Financial Markets, vol. 12 no. 2
Type: Research Article
ISSN: 1755-4179

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Article
Publication date: 26 October 2010

Max Visser

In recent research the strength and nature of the relationship between coaches and executives appears as a critical success factor in successful coaching outcomes…

Abstract

Purpose

In recent research the strength and nature of the relationship between coaches and executives appears as a critical success factor in successful coaching outcomes. However, little theory has as yet been devoted to an analysis of how relationships are used in executive coaching. Such an analysis requires going from the monadic, individual level of analysis to the dyadic, relational level. The purpose of this paper is to develop a theory of relating in executive coaching at this dyadic level of analysis.

Design/methodology/approach

A conceptual analysis of relating in executive coaching is presented, drawing on a combination of the behavioural approach (Skinner and others) and the systems approach (Bateson and others). A verbatim of a coaching conversation serves as an illustration.

Findings

It is found that the behavioural and systems approaches may be fruitfully combined in one behavioural systems approach. Following this, relating in executive coaching is characterised as systemic, behavioural, communicational, and patterned.

Originality/value

The paper is among the first to study executive coaching at the dyadic level of analysis, and to develop a combined behavioural systems approach towards that purpose. This approach and its outcomes add to and can be clearly distinguished from the more common humanistic, psychodynamic, and cognitive approaches to executive coaching.

Details

Journal of Management Development, vol. 29 no. 10
Type: Research Article
ISSN: 0262-1711

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Article
Publication date: 3 August 2012

João J. Ferreira, Mário L. Raposo, Ricardo Gouveia Rodrigues, Anabela Dinis and Arminda do Paço

The field of entrepreneurship is dotted across different paradigms. Measuring entrepreneurial intention automatically needs to incorporate insights from the psychological…

Abstract

Purpose

The field of entrepreneurship is dotted across different paradigms. Measuring entrepreneurial intention automatically needs to incorporate insights from the psychological approach and behavioural approach. The purpose of this study was to develop and test a comprehensive structural equation model which combines both psychological and behavioural perspectives aiming to identify what variables have influence on entrepreneurial intention of secondary students.

Design/methodology/approach

This research was developed involving a sample of secondary students. The method of data collection was a survey by self‐administered questionnaire, to two secondary student classes, with several groups of questions related to demographic characteristics, behavioural and psychological constructs and entrepreneurial intention. Data was analysed using structural equation modelling (SEM).

Findings

The results show that need for achievement, self‐confidence, and personal attitude positively affect entrepreneurial intention. Furthermore, subjective norms and personal attitude affect perceived behavioural control. These findings could have a significant impact on knowledge of the contributions of behavioural and psychological theories to the entrepreneurial intention.

Research limitations/implications

Understanding of the ways in which several psychological and behavioural characteristics influence the entrepreneurial intention could help to advance our knowledge of the entrepreneurial process. Educational systems need to be oriented to emphasize and value entrepreneurship in order to promote an enterprise culture. Methods to teach entrepreneurship should also be explored further.

Originality/value

This is one of the first studies to provide evidences of the entrepreneurial intention explained by several constructs related to psychological and behavioural characteristics in a 14‐15‐year‐old student population. Additionally, most studies of the entrepreneurial intention associated to these approaches have been mostly conceptual, and the few empirical studies have not used structural equation modelling. The use of these statistical tests helps to overcome the limitations evident in conceptual studies and provide evidence of the relationships between behavioural and psychological traits simultaneously.

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Article
Publication date: 1 September 2007

Joe Curran, Paul Lawson, Simon Houghton and Kevin Gournay

Behavioural activation is a contemporary behavioural treatment for depression that has the potential advantages of being more readily adopted in psychiatric inpatient…

Abstract

Behavioural activation is a contemporary behavioural treatment for depression that has the potential advantages of being more readily adopted in psychiatric inpatient environments than more complex psychological treatment approaches and requiring less intensive training than these approaches. In this article the theoretical and empirical foundations of behavioural activation are described along with an outline of the therapeutic process and key interventions used. Consideration is then given to factors influencing the implementation of BA in psychiatric inpatient environments.

Details

The Journal of Mental Health Training, Education and Practice, vol. 2 no. 2
Type: Research Article
ISSN: 1755-6228

Keywords

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Abstract

Details

Behavioral Strategy in Perspective
Type: Book
ISBN: 978-1-78756-348-3

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Article
Publication date: 29 April 2014

Helena Drury and Nadja Alim

This purpose of this paper is to outline how a combination of different psychological models may inform formulation and treatment, and the benefits for the client and the…

Abstract

Purpose

This purpose of this paper is to outline how a combination of different psychological models may inform formulation and treatment, and the benefits for the client and the therapist of working in this way.

Design/methodology/approach

This is a single case study, describing an integrative approach in which psychodynamic ideas were used to inform cognitive-behavioural treatment.

Findings

The integrated approach reported here not only allowed the client to develop his skills in problem solving and taking different perspectives, but also to take a more active role in decisions about his life.

Practical implications

Integrative approaches may be of particular use for individuals who have not shown a full response to interventions based on a single theoretical model. Malan's triangles of insight provide a clear structure to psychodynamic formulation that is easily accessible to emerging psychodynamic practitioners.

Originality/value

Little previous research has described integrative approaches for psychological difficulties in people with an intellectual disability. The approach outlined in this study describes reasons for using an integrative approach, provides one example of how different models may be combined in practice, and describes ways in which the integrative approach enriched the intervention.

Details

Advances in Mental Health and Intellectual Disabilities, vol. 8 no. 3
Type: Research Article
ISSN: 2044-1282

Keywords

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Book part
Publication date: 29 August 2012

Stephen W. Smith, Gregory G. Taylor, Tia Barnes and Ann P. Daunic

Students with emotional and behavioral disorders (EBD) who display aggression necessitate effective interventions for reducing highly disruptive behavior, while keeping…

Abstract

Students with emotional and behavioral disorders (EBD) who display aggression necessitate effective interventions for reducing highly disruptive behavior, while keeping learning environments safe and secure for all students and staff. In this chapter, we describe the merits of cognitive-behavioral interventions (CBIs) in school settings to reduce student aggression and other destructive and maladaptive behavior and to promote student success and lifelong learning. To that end, we first explore three theoretical frameworks for aggression: the general aggression model, social learning theory, and social information processing, each of which examines the role of environment, cognition, and behavior as foundational to the occurrence of aggression. Synthesizing these theories assists in the development and implementation of CBIs in classroom settings. We then describe the CBI approach to teaching students cognitive and behavioral strategies to reduce problematic behaviors and increase the use of more pro-social alternatives, and ultimately generalize learned skills to a variety of social situations. A brief history of CBIs is explored, followed by a discussion of several meta-analyses establishing CBI's effectiveness in decreasing aggression across a variety of venues and populations. We then focus on social problem solving as an example of a cognitive-behavioral approach and describe the Tools for Getting Along curriculum as an example of a school-based CBI. At the end of the chapter, we explain some limitations of CBIs in schools and delineate future research needs.

Details

Classroom Behavior, Contexts, and Interventions
Type: Book
ISBN: 978-1-78052-972-1

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Article
Publication date: 11 July 2008

Fred Luthans, Shanggeun Rhee, Brett C. Luthans and James B. Avey

The purpose of this study is to examine whether the use of money, social recognition, and feedback have a similar impact on employee performance in the context of a modern…

Abstract

Purpose

The purpose of this study is to examine whether the use of money, social recognition, and feedback have a similar impact on employee performance in the context of a modern Korean broadband internet service firm.

Design/methodology/approach

The study design was a quasi‐field experiment (with control group). First, the leaders of this Korean firm were trained in behavioral performance management. Following the steps of organisational behaviour modification (O.B. Mod.) they identified, measured, and analyzed critical performance behaviors and then intervened with the following reward incentives: money (n=38), social recognition and caring attention (n=41), and objective feedback only (n=31). The main dependent variable was overall performance, and this was also broken down into quantity and quality dimensions.

Findings

As hypothesized, money and social recognition had a significant impact on performance outcomes, but feedback did not result in as strong a result. When compared to the control group (n=23), all three reward incentives showed significantly more improvement of overall performance. These findings also indicated, as hypothesized, that the impact of this behavioral management approach on Korean employees did not appear as robust as previous meta‐analytic research based on samples of US employees. Finally, although in the predicted direction, the hypothesis that social recognition would have a relatively stronger impact than money and feedback in this context was not statistically supported.

Research limitations/implications

The major limitation concerns generalizability of the findings. However, the experimental design provides support for internal validity.

Practical implications

The study results have practical implications for the value of behavioral performance management, but also that cultural contingencies should also be considered for successful application.

Originality/value

This study contributes preliminary evidence for O.B. Mod to have applicability across cultures.

Details

Leadership & Organization Development Journal, vol. 29 no. 5
Type: Research Article
ISSN: 0143-7739

Keywords

Content available
Article
Publication date: 5 February 2018

Eveline van Zeeland and Jörg Henseler

Vendors’ social cues – physical or behavioural hints – have an impact on the professional buyer. However, little is known about that impact. The purpose of this paper is…

Abstract

Purpose

Vendors’ social cues – physical or behavioural hints – have an impact on the professional buyer. However, little is known about that impact. The purpose of this paper is to place knowledge about the impact of social cues that other disciplines acquired in the context of business-to-business (B2B) marketing to contribute constructively to the research agenda.

Design/methodology/approach

By integrating findings on the processing of social cues and the behavioural response from the disciplines of neuroscience, biology and psychology (specifically the behavioural inhibition system [BIS]/behavioural activation system [BAS]-theory), this paper aims to provide an interdisciplinary perspective on the automatic evaluation of vendors by professional buyers.

Findings

Social cues are likely to be of substantial value in the (first) encounter between buyer and seller. Positively evaluated social cues create an approach-motivated behavioural intention, whereas negatively evaluated ones create avoidance. This process is probably predominantly mediated by trust and moderated by personality and contextual factors.

Research limitations/implications

This paper stimulates research about the impact of social cues in a B2B context. While such knowledge would add practical value, this paper also explores possibilities for managers to use neuroscientific techniques to assess and train sales agents.

Originality/value

The impact of social cues is hardly covered in the B2B marketing literature, but they have an important impact on B2B decision-making. The conceptual framework combines the BIS/BAS theory (approach/avoidance) with the SOR-model (stimulus-organism-response), which is unique to the B2B marketing field.

Details

Journal of Business & Industrial Marketing, vol. 33 no. 1
Type: Research Article
ISSN: 0885-8624

Keywords

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