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Book part
Publication date: 28 September 2015

Md Shah Azam

Information and communications technology (ICT) offers enormous opportunities for individuals, businesses and society. The application of ICT is equally important to economic and…

Abstract

Information and communications technology (ICT) offers enormous opportunities for individuals, businesses and society. The application of ICT is equally important to economic and non-economic activities. Researchers have increasingly focused on the adoption and use of ICT by small and medium enterprises (SMEs) as the economic development of a country is largely dependent on them. Following the success of ICT utilisation in SMEs in developed countries, many developing countries are looking to utilise the potential of the technology to develop SMEs. Past studies have shown that the contribution of ICT to the performance of SMEs is not clear and certain. Thus, it is crucial to determine the effectiveness of ICT in generating firm performance since this has implications for SMEs’ expenditure on the technology. This research examines the diffusion of ICT among SMEs with respect to the typical stages from innovation adoption to post-adoption, by analysing the actual usage of ICT and value creation. The mediating effects of integration and utilisation on SME performance are also studied. Grounded in the innovation diffusion literature, institutional theory and resource-based theory, this study has developed a comprehensive integrated research model focused on the research objectives. Following a positivist research paradigm, this study employs a mixed-method research approach. A preliminary conceptual framework is developed through an extensive literature review and is refined by results from an in-depth field study. During the field study, a total of 11 SME owners or decision-makers were interviewed. The recorded interviews were transcribed and analysed using NVivo 10 to refine the model to develop the research hypotheses. The final research model is composed of 30 first-order and five higher-order constructs which involve both reflective and formative measures. Partial least squares-based structural equation modelling (PLS-SEM) is employed to test the theoretical model with a cross-sectional data set of 282 SMEs in Bangladesh. Survey data were collected using a structured questionnaire issued to SMEs selected by applying a stratified random sampling technique. The structural equation modelling utilises a two-step procedure of data analysis. Prior to estimating the structural model, the measurement model is examined for construct validity of the study variables (i.e. convergent and discriminant validity).

The estimates show cognitive evaluation as an important antecedent for expectation which is shaped primarily by the entrepreneurs’ beliefs (perception) and also influenced by the owners’ innovativeness and culture. Culture further influences expectation. The study finds that facilitating condition, environmental pressure and country readiness are important antecedents of expectation and ICT use. The results also reveal that integration and the degree of ICT utilisation significantly affect SMEs’ performance. Surprisingly, the findings do not reveal any significant impact of ICT usage on performance which apparently suggests the possibility of the ICT productivity paradox. However, the analysis finally proves the non-existence of the paradox by demonstrating the mediating role of ICT integration and degree of utilisation explain the influence of information technology (IT) usage on firm performance which is consistent with the resource-based theory. The results suggest that the use of ICT can enhance SMEs’ performance if the technology is integrated and properly utilised. SME owners or managers, interested stakeholders and policy makers may follow the study’s outcomes and focus on ICT integration and degree of utilisation with a view to attaining superior organisational performance.

This study urges concerned business enterprises and government to look at the environmental and cultural factors with a view to achieving ICT usage success in terms of enhanced firm performance. In particular, improving organisational practices and procedures by eliminating the traditional power distance inside organisations and implementing necessary rules and regulations are important actions for managing environmental and cultural uncertainties. The application of a Bengali user interface may help to ensure the productivity of ICT use by SMEs in Bangladesh. Establishing a favourable national technology infrastructure and legal environment may contribute positively to improving the overall situation. This study also suggests some changes and modifications in the country’s existing policies and strategies. The government and policy makers should undertake mass promotional programs to disseminate information about the various uses of computers and their contribution in developing better organisational performance. Organising specialised training programs for SME capacity building may succeed in attaining the motivation for SMEs to use ICT. Ensuring easy access to the technology by providing loans, grants and subsidies is important. Various stakeholders, partners and related organisations should come forward to support government policies and priorities in order to ensure the productive use of ICT among SMEs which finally will help to foster Bangladesh’s economic development.

Details

E-Services Adoption: Processes by Firms in Developing Nations
Type: Book
ISBN: 978-1-78560-325-9

Keywords

Article
Publication date: 28 June 2022

Maqsood Ahmad

This article aims to systematically review the literature published in recognized journals focused on cognitive heuristic-driven biases and their effect on investment management…

2127

Abstract

Purpose

This article aims to systematically review the literature published in recognized journals focused on cognitive heuristic-driven biases and their effect on investment management activities and market efficiency. It also includes some of the research work on the origins and foundations of behavioral finance, and how this has grown substantially to become an established and particular subject of study in its own right. The study also aims to provide future direction to the researchers working in this field.

Design/methodology/approach

For doing research synthesis, a systematic literature review (SLR) approach was applied considering research studies published within the time period, i.e. 1970–2021. This study attempted to accomplish a critical review of 176 studies out of 256 studies identified, which were published in reputable journals to synthesize the existing literature in the behavioral finance domain-related explicitly to cognitive heuristic-driven biases and their effect on investment management activities and market efficiency as well as on the origins and foundations of behavioral finance.

Findings

This review reveals that investors often use cognitive heuristics to reduce the risk of losses in uncertain situations, but that leads to errors in judgment; as a result, investors make irrational decisions, which may cause the market to overreact or underreact – in both situations, the market becomes inefficient. Overall, the literature demonstrates that there is currently no consensus on the usefulness of cognitive heuristics in the context of investment management activities and market efficiency. Therefore, a lack of consensus about this topic suggests that further studies may bring relevant contributions to the literature. Based on the gaps analysis, three major categories of gaps, namely theoretical and methodological gaps, and contextual gaps, are found, where research is needed.

Practical implications

The skillful understanding and knowledge of the cognitive heuristic-driven biases will help the investors, financial institutions and policymakers to overcome the adverse effect of these behavioral biases in the stock market. This article provides a detailed explanation of cognitive heuristic-driven biases and their influence on investment management activities and market efficiency, which could be very useful for finance practitioners, such as an investor who plays at the stock exchange, a portfolio manager, a financial strategist/advisor in an investment firm, a financial planner, an investment banker, a trader/broker at the stock exchange or a financial analyst. But most importantly, the term also includes all those persons who manage corporate entities and are responsible for making their financial management strategies.

Originality/value

Currently, no recent study exists, which reviews and evaluates the empirical research on cognitive heuristic-driven biases displayed by investors. The current study is original in discussing the role of cognitive heuristic-driven biases in investment management activities and market efficiency as well as the history and foundations of behavioral finance by means of research synthesis. This paper is useful to researchers, academicians, policymakers and those working in the area of behavioral finance in understanding the role that cognitive heuristic plays in investment management activities and market efficiency.

Details

International Journal of Emerging Markets, vol. 19 no. 2
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 12 March 2018

Rupali Misra Nigam, Sumita Srivastava and Devinder Kumar Banwet

The purpose of this paper is to review the insights provided by behavioral finance studies conducted in the last decade (2006-2015) examining behavioral variables in financial…

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Abstract

Purpose

The purpose of this paper is to review the insights provided by behavioral finance studies conducted in the last decade (2006-2015) examining behavioral variables in financial decision making.

Design/methodology/approach

The literature review assesses 623 qualitative and quantitative studies published in various international refereed journals and identifies possible scope of future work.

Findings

The paper identifies stock market anomalies which contradict rational agents of modern portfolio theory at an aggregate level and behavioral mediators, influencing the financial decision making at an investor level. The paper also attempts to classify different dimensions of risk as professed by the investor.

Originality/value

The authors synthesize the contribution made by behavioral finance studies in extending the knowledge of financial market and investor behavior.

Details

Review of Behavioral Finance, vol. 10 no. 1
Type: Research Article
ISSN: 1940-5979

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Article
Publication date: 11 March 2019

Mercy Mpinganjira

This paper aims to provide a conceptual model that elucidates the role of cognitive absorption in explaining behavioural intentions in virtual health communities.

Abstract

Purpose

This paper aims to provide a conceptual model that elucidates the role of cognitive absorption in explaining behavioural intentions in virtual health communities.

Design/methodology/approach

Data were collected from 361 contributing members of virtual health communities from Gauteng, South Africa, using a structured questionnaire. Structural equation modelling using AMOS software was used to analyse the data.

Findings

The findings show that cognitive absorption has a significant direct positive influence on content posters’ intentions to continue participating on virtual health community platforms. Cognitive absorption was also found to have an indirect influence on behavioural intentions through its influence on members’ attitude. It was also found to play a mediating role in the influence of perceived usefulness and behavioural intention.

Research limitations/implications

The study shows the value of linking flow theory and the technology acceptance model to provide a comprehensive understanding of behavioural intentions in virtual health community forums.

Practical implications

Managers of virtual health communities need to pay attention to experiential aspects of their sites. Success in ensuring that community members are cognitively absorbed is key to the development of positive attitude and intentions towards virtual health community forums.

Originality/value

Virtual health communities play a new and growing role in the way health-related information and support is offered and accessed by those in need. Despite their importance, not much research has been done to explain the role of consumer experience in member behavioural intentions on such forums. The study contributes to this understanding by demonstrating the value of cognitive absorption in directly explaining users’ attitude and behavioural intentions. The study also sheds light on the role played by cognitive absorption in explaining the influence of perceived usefulness on behavioural intentions.

Details

Journal of Systems and Information Technology, vol. 21 no. 1
Type: Research Article
ISSN: 1328-7265

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Article
Publication date: 8 May 2017

Samuel Mafabi, Sentrine Nasiima, Edgar Mutakirwa Muhimbise, Francis Kasekende and Caroline Nakiyonga

This paper aims to examine the mediation role of behavioral intention in the relationship between attitude, subjective norm, perceived behavioral control and knowledge sharing…

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Abstract

Purpose

This paper aims to examine the mediation role of behavioral intention in the relationship between attitude, subjective norm, perceived behavioral control and knowledge sharing behavior.

Design/methodology/approach

The study adopted a cross-sectional design to collect data used to carry out mediation analysis. Structural equation modeling was used to test for the mediation effect based on the theory of planned behavior.

Findings

The results reveal positive and significant relationships between attitude, subjective norm, perceived behavioral control and behavioral intention. There is a full mediation effect of behavioral intention between attitude, subjective norm, perceived behavioral control and knowledge sharing behavior. This implies that behavioral intention wholly processes planned behavior prediction.

Research limitations/implications

The sample size was small, covering only two referral hospitals which affects the generalization of findings across all the hospitals in Uganda. The study was cross-sectional focusing on a one-off perception, which does not examine knowledge sharing behavior over time. This may necessitate follow-up studies in a longitudinal design to capture the trend of results.

Practical implications

Managers in referral hospitals should create opportunities for health professionals to enhance knowledge sharing behavior. Knowledge sharing practices should be embedded in the performance appraisal and reward systems which should promote positive knowledge sharing attitudes and norms and develop self-efficacy.

Originality/value

The study generates empirical evidence on less studied phenomena in the health sector focusing on behavioral intention mediation in predicting knowledge sharing behavior.

Details

VINE Journal of Information and Knowledge Management Systems, vol. 47 no. 2
Type: Research Article
ISSN: 2059-5891

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Open Access
Article
Publication date: 2 February 2022

Rajiv Kumar Dwivedi, Manoj Pandey, Anil Vashisht, Devendra Kumar Pandey and Dharmendra Kumar

The study aims to investigate the consumers' behavioral intention toward green hotels. The tendency of individuals to afford green hotels is further escalating with progressing…

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Abstract

Purpose

The study aims to investigate the consumers' behavioral intention toward green hotels. The tendency of individuals to afford green hotels is further escalating with progressing coronavirus disease-2019 (COVID-19) pandemic recurring waves. The increased worry of consumers toward health, hygiene and the climate is acquiring momentum and transforming how consumers traditionally perceive green hotels.

Design/methodology/approach

The study has recommended an integrated framework incorporating various research fields as attitude-behavior-context theory, theory of planned behavior (TPB) and moderating influences to study the associations among the antecedents of consumers' behavioral intention toward green hotels. The study comprised the participation of 536 respondents residing in the Delhi and National Capital Region (NCR) of India. The data analysis strategy involved the use of structural equation modeling (SEM) analysis to test the proposed research framework.

Findings

The results and findings of the study indicated a significant influence of fear and uncertainty of the COVID-19 pandemic and environmental concern on green trust. The results also revealed the considerable impact of green trust on willingness to pay premium, attitude and subjective norms, which significantly influenced behavioral intention. The analysis also revealed the moderating influence of environmental concern in the relationship of green trust and behavioral intention.

Research limitations/implications

The study has recommended significant theoretical. The theorists may use this research framework to analyze better the transforming consumer behavior trends toward green hotels in the ongoing fearful and uncertain COVID-19 pandemic scenario.

Practical implications

The study has recommended significant managerial implications. The industry practitioners may also utilize the framework to sustain the hotel business and bring new strategic insights into practice to combat the impact of the pandemic and simultaneously win consumers' trust in green hotels.

Originality/value

Although the researchers have previously emphasized consumers' intention toward green practices embraced by hotels, the impact of the COVID-19 pandemic on the green hotel industry gained noticeable attention from researchers. Furthermore, there is a scarcity of literature providing insights on the behavioral dynamism of hotel customers' trust, attitude and willingness to pay for green hotels during the repetitive waves of the COVID-19 pandemic. The study will support the existing literature gap by enlightening the associations among the various antecedents of green hotels' behavioral intention, COVID-19 and environmental concern.

Details

Journal of Tourism Futures, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2055-5911

Keywords

Article
Publication date: 8 June 2021

Ayten Ozcelik and Orhan Akova

The aim of the study is to determine the effect of street food experience on behavioural intention and to determine the relationship between the street food experiences and…

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Abstract

Purpose

The aim of the study is to determine the effect of street food experience on behavioural intention and to determine the relationship between the street food experiences and behavioural intention.

Design/methodology/approach

In this research, a quantitative research method and a structured questionnaire form are used. The author has used a 48-item questionnaire. The questionnaire contains three categories. In the first section of the questionnaire form, there were 14 questions to determine gender, education, age, income state and demographic findings of the participants. In other sections, a Likert scale with 5 points (strongly agree–strongly disagree) was used.

Findings

It was found that street food experience affects behavioural intention and also there is a significant positive relationship between street food and behavioural intention. The research includes constructive propositions for many institutions and organisations such as local businesses and local governments. In spite of the shortcomings of basic research about the impact of the street food experience on behavioural intention of the tourist, there is still some need of other with a wider sample and different studies to understand the impacts of street food experience. In addition, future studies can focus on the relationship between street food experience and food culture.

Originality/value

In tourism literature, there are so many research studies that examine tourist experience. Many of these studies are about the relationships between food and cultural experience. Nevertheless, no study has been conducted on similar relationships between street food and behavioural intentions in the literature. There are also some other studies that discuss different types of tourism experience. However, there has not been found any research on tourist experience of street food. In prior studies, rather than street food impacts on experience, food impacts on tourist experience have been emphasised. In this way, this study is important in terms of contributing both qualitative and quantitative studies.

Details

British Food Journal, vol. 123 no. 12
Type: Research Article
ISSN: 0007-070X

Keywords

Article
Publication date: 17 May 2021

Le Dang Lang, Abhishek Behl, Nguyen Trung Dong, Yama Temouri and Nguyen Hong Thu

Coronavirus disease 2019 (COVID-19) has seriously affected the global economy. How agribusinessmen are overcoming this crisis is being noticed in emerging markets. Using social…

Abstract

Purpose

Coronavirus disease 2019 (COVID-19) has seriously affected the global economy. How agribusinessmen are overcoming this crisis is being noticed in emerging markets. Using social capital to diversify agribusiness for getting more customers is a useful solution for the growth of agribusiness. However, there is a lack of evidence on the aggregate measurement scale of social capital and the influence of behavioral goals on the intention toward agribusiness diversification. Therefore, this study aims to develop an integrated measurement of social capital and investigate its effect on agribusiness diversification intention using the expanded theory of planned behavior (TPB).

Design/methodology/approach

A mixed-methods approach is used, including four in-depth interviews, three focus group discussions and two surveys. Structural equation modeling is applied to a sample of 484 respondents to test the proposed hypotheses.

Findings

The study shows the role of social capital in influencing the intention to diversify agribusiness under the premises of the resource-based view (RBV). The scale of social capital is also developed, which is the first integrated measurement of this asset. The findings contribute significantly to the existing knowledge of social capital, the TPB and diversifying agribusiness.

Originality/value

This is the first study to explore the comprehensive effect of the facets of social capital on behavioral intention through behavioral goals and determinants of the TPB under the premises of the RBV. The findings will help emerging economies, for example, Vietnam, where most farmers are family business owners or microscaled entrepreneurs in agriculture.

Details

Journal of Intellectual Capital, vol. 23 no. 1
Type: Research Article
ISSN: 1469-1930

Keywords

Article
Publication date: 1 November 2006

Matthew J. Robson, Dionysis Skarmeas and Stavroula Spyropoulou

The aim of this study is to provide a methodical, analytical, and focused review of international strategic alliance (ISA) studies examining empirically behavioral attributes'…

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Abstract

Purpose

The aim of this study is to provide a methodical, analytical, and focused review of international strategic alliance (ISA) studies examining empirically behavioral attributes' performance outcomes.

Design/methodology/approach

This study centers on an integrative analysis of 41 studies investigating the performance relevance of behavioral attributes. After developing a conceptual framework, which included two categories of these attributes – relationship capital (i.e. trust and commitment) and exchange climate (i.e. cooperation, communication, and conflict reduction) – the methodologies of the studies were profiled and their empirical findings aggregated. The accumulated effect of each behavioral attribute on performance and extent to which this effect varies in relation to ISA geographic location and type and study operating period was examined.

Findings

The review suggests that while there are direct links between behavioral aspects and alliance performance, the strength of these varies across the two categories. Of the relationship capital and exchange climate aspects, commitment and cooperation, respectively, prove most consistently positively linked to performance. Still, the results for all the behavioral attributes appear more consistent when taking the study context into consideration.

Research limitations/implications

Empirical research on behavioral attributes' links to alliance performance is still at an early stage of development and assertions concerning relationship management offering the key to ISA success are somewhat premature. Improvements need to be made in terms of conceptualizations, research designs, and analytical techniques used if the field is to build concrete theory on the subject.

Practical implications

It would appear that the behavioral paradigm can be relied on to pay‐off in alliances involving only DC partner firms and/or a cooperative agreement structure, but should be applied more cautiously and selectively in LDC‐DC and/or formal joint venture partnerships.

Originality/value

This is the first review exercise focused on providing fine‐grained insights covering the complexity of the burgeoning literature on the behavioral paradigm's performance relevance in ISAs.

Details

International Marketing Review, vol. 23 no. 6
Type: Research Article
ISSN: 0265-1335

Keywords

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 the…

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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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