Search results

This paper sets out to corroborate the existing literature on investors' risk tolerance and to assess how the 2008 financial crisis has affected risk tolerance among Italian investors.

Based on a unique dataset of real-world portfolio choices made by 1,245 Italian investors over a period of 15 years (from 2003 to 2017), this paper presents two steps of analysis. In step 1, the whole period 2003–2017 is considered with the aim to integrate and corroborate the existing literature on the topic of risk tolerance, considering a complete economic and financial cycle. Step 2 took 2008 as the pivotal point between pre-crisis (2003–2008) and crisis (2009–2017) with the aim to observe the influence on risk appetite of the economic and financial effects of the crisis.

The results obtained confirm that men are more risk tolerant than women and older people are less risk-taking than their younger counterparts, although the relationship between age and risk tolerance is not necessarily linear. Moreover, our paper demonstrates that a crisis scenario has an influence on Italian investors' risk tolerance.

Our results are of interest to financial advisors, financial planners, asset managers, psychologists, behavioral researchers and more in general to providers of financial products and services.

The results presented in this paper are relevant and original because they are based on real investors who made real choices concerning their portfolio asset allocations.

The purpose of this paper is to study teachers’ perspectives of social and emotional learning (SEL) in Aotearoa New Zealand (NZ) primary schools.

This research was a case study design investigating the phenomenon of SEL in primary schools (elementary school level) in Aotearoa NZ (Stake, 2005).

The SEL themes that were drawn from the data were: positive interdependence, empowerment, self-management, self-awareness restorative conversations and circle time.

The research challenges the field to work with teachers and community workers to create more in-depth qualitative research knowledge that is contextually relevant to SEL for researchers, educational policymakers and our children.

Based in Aotearoa NZ primary schools, this qualitative research provides a unique perspective of SEL from school-based practicing teachers.

This study investigates the impact of entrepreneurial orientation (EO) and knowledge management (KM) on firm performance (PERF), as well as the mediating role of KM in the EO–PERF (EO-PERF relationship). In particular, this study aims to explain the impact of KM on the relationship between the EO dimensions and PERF; dimensions are risk-taking (RT), innovativeness (IN) and proactiveness (PR).

This study uses structural equation modelling and fuzzy-set qualitative comparative analysis (fsQCA) methodologies to explore target relationships. The sample consists of 150 small furniture manufacturers operating in Poland (out of 1,480 in the population).

The study findings show that KM partially mediates the IN–PERF relationship. Furthermore, fsQCA reveals that KM accompanied by IN is a core condition that leads to PERF. Moreover, the absence of KM (accompanied by the absence of RT and IN) leads to the absence of PERF. In addition, the results show that all the variables examined (RT, IN, PR and KM) positively impact PERF.

This study explores the role of KM in the context of EO and its impact on PERF in the low-tech industry. The study uses simultaneously two methodologies that represent different approaches in the search for the expected relationships. The findings reveal that KM mediates the EO-PERF relationship.

The study considers time-varying risk premium in investigating the capability of technical analysis (TA) to predict and outperform a buy–hold strategy in Bitcoin exchange rate returns.

The study tests the technical trading rule of fixed moving average (FMA) on daily actual and equilibrium returns of Bitcoin exchange rates. The equilibrium returns are computed using dynamic CAPM in conjunction with a VAR-MGARCH (1, 1) system. The empirical evaluation of the study uses a case study of four Bitcoin exchange rates (BTC/AUD, BTC/EUR, BTC/JPY and BTC/ZAR) for the period 19 June 2010 to 30 October 2020.

The findings are consistent with related studies in conventional foreign exchange markets that find TA to be profitable, especially in emerging markets. Nevertheless, the consideration of risk premium has the effect of reducing the abnormal returns. Also, further robust tests reveal that Bitcoin returns possess a momentum effect which prompts further study in efficient market hypothesis research.

The empirical findings of this study should benefit portfolio managers and active investors on the strength of TA to predict returns in a speculative market like the Bitcoin exchange rate market.

The study takes cognisance that cryptocurrency trading is speculative in nature which renders it a good candidate for TA methods. While there are studies that have explored the value of TA in Bitcoin exchange rates, these studies fail to incorporate the effects of time-varying risk premiums, the strength and focus of the current paper.

This study aims to investigate gamification-based training program through the lens of self-determination theory and in the context of corporate training programs. It integrates the self-determination theory, game elements and learning outcomes in gamified training programs to derive insights.

Data is sourced from software development companies operating in the city of Bangalore in India. It applies the partial least square structural equation modeling to investigate the relationship between the self-determination learning theory and game elements and the impact it has on learning outcomes.

As a precursor to the development of a game-like learning ecosystem, the authors study the perception of trainers and human resource managers toward game-based training programs in the organization. The authors find that game-based learning makes training more engaging, immersive and contextual for the learners.

The study is based on a specific sector, i.e. software development companies, and so the results may lack in generalizability. Future research, therefore, may consider other industrial sectors such as manufacturing, banking and telecom to understand the relationship between the constructs.

This study provides insights for the trainers, human resource managers and academicians on the effectiveness of gamification-based training programs. It also provides information on how the learning theory can be leveraged to understand gamification-based training programs.

This work fulfills an identified need of the training industry to understand new methods of training with an aim to improve the learning outcomes among the learners.

This study provides a deep understanding on the effectiveness of training tools such as gamified training programs in enhancing and improving the learning outcomes among the learners.

Since the outbreak of COVID-19 in early 2020, the travel sector has faced an intense challenge, making tourism one of the most affected sectors at the time of writing. Based on the results of a survey administered to a sample of 700 Italian tourists, this paper aims to acquire an empirical understanding of key challenges for the travel and tourism sector in the coming months and the possible responses of tourist cities.

To study tourism after the pandemic, OUT (University of Naples Tourism Research Center) has created an online survey to answer the following questions: What will tourism be like after the pandemic? What will the main changes in travel behaviors be? What role will new information technologies play in future tourism? Are there territorial differences based on the spread of the virus?

The pandemic has inevitably affected everyone’s tourist choices, regardless of how much their specific area of residence has been impacted by the virus. Consequently, it will significantly influence travelers’ experiences. The Italian tourists who were survey respondents are aware that physical distancing rules will probably remain in effect for an extended time and, therefore, they cannot imagine future tourism not conditioned by these measures. This does not mean that Italians will give up tourism in the short-medium term, however. Indeed, the research data highlight the resilient character of tourism in that it is transformed but does not cease to exist.

By studying the future through a sociological approach, it is possible to identify how the COVID-19 emergency will impact tourism and how both the form and social meaning of mobility will be conditioned. On the basis of the data, the analysis will be directed from the present to the post-pandemic horizon, hypothesizing possible scenarios for the future of tourism and providing some possible policy indications.

The purpose of this paper is to review state-of-the-art literature on product/brand positioning to re-examine the positioning concept and developing a more comprehensive definition from a theoretical viewpoint.

A systematic review of positioning was conducted. The review conformed to a rigorous set of core principles: it was systematic (organized according to a method designed to address the review questions), transparent (explicitly stated), reproducible and updatable and synthesized (summarized the evidence relating to the review question).

The literature review reveals that there is lack of coherent definition for positioning, and there is no mutual agreement among marketing scholars and practitioners about the exact meaning of the concept. Therefore, comprehensive definition of positioning encompassing the five underlying positioning perspectives (competition; empty slot/mind; consumers’ perception, differentiation and competitive advantage) is suggested.

This paper will be useful for academicians to analyze the current nature of academic research in this area and will provide an added advantage to managers to design and implement positioning strategies for their product/brands that will allow their organizations to gain competitive advantage. This study acknowledges limitations with respect to its exclusive search criteria, which might affect its generalizability.

Position and positioning is of relevance in society in broad terms, e.g. in sports, politics and culture. Positioning strategy is discussed and implemented in different industries (business-to-business and consumer), for all kinds of brands (including, for instance, corporate brands) and for “brands” in the very widest sense (such as places or people).

This is the first systematic review of positioning that provides a detailed understanding of the current state of positioning research on a single platform and also draws a comprehensive positioning conceptualization.

The purpose of this study is to investigate the determinants of agricultural insurance adoption by farmers of the state of São Paulo, Brazil.

Primary data from the 2015/2016 crop season was collected from a sample of 175 farmers. Logit econometric models were applied to identify the variables that affect the probability of agricultural insurance adoption.

The empirical results show that the education level, access to technical assistance, use of management tools and farm size positively affect the probability of adopting agricultural insurance. In addition, farmers who produce soybean and/or corn are more likely to use insurance. On the other hand, the higher the farmers’ propensity to take risk the lower the likelihood of using insurance.

The empirical analysis is based on cross-sectional data of a sample of 175 farmers of the state of São Paulo. The use of panel data with a larger sample of farmers, considering a period of years, could provide additional information.

To the best of the knowledge, this is the first empirical analysis about determinants of agricultural insurance adoption by Brazilian farmers, considering behavioral factors. The findings provide useful insights for policymakers in formulating risk management programs in the Brazilian agricultural markets. A better understanding about the determinants of insurance adoption is also relevant for private companies that sell insurance to farmers. Therefore, the paper may contribute with the diffusion of rural insurance as risk management tool in Brazilian agriculture.

The study examines the impacts of debt financing on infrastructure development, investment, creation of new business entities, subsidies to private sector and GDP growth.

The methodology is based on five simultaneous equations which have been estimated through panel least square.

The most important conclusion of this study is the significant role of sovereign bonds in determination of subsidies to private sector. The role of domestic credit is important in South Asian context because of its significant role in creation of new businesses.

This study supports the enhancement in credit financing to private sector for creation of new business activities in the economy.

The improvement in liquidity position by enhancing domestic credit facilities may ensure the sustainability and continuity of business activities. Such activities may improve GDP growth in future.

The most important aspect of the study is to identify the role of debt financing in subsidies and creation of new businesses which are important elements of social economics.

Usually the impacts of sovereign bonds and external debts on infrastructure development and GDP growth are examined. But, to relate these debts to creation of business entities and subsidies is a new dimension.

An intractable effect of revenue and expense recognition based on tax regulation and accounting rules is unresolved and may be manageable only by reducing the value of deferred taxes. Therefore, in this study, the authors examined the relationship between the International Accounting Standard 12 (IAS 12) and deferred income taxes associated with tax and accounting rules.

The authors used a large sample of balanced data from 144 firms across 1992–2019. To mitigate the problem of superfluous results, the authors used the same number of firms and years for pre- and post-IAS 12 periods. The authors employed robust econometric estimations to establish the impact of IAS 12 on deferred tax.

The regression results show that deferred tax assets decreased significantly, whereas deferred tax liabilities increased significantly, in the post-IAS 12 period. These contrasting results imply that IAS 12 implementation has increased conservatism and prudence in financial reporting. However, the authors find that the increase in deferred tax assets post-IAS 12 is value destructive, suggesting that its implementation has unintended consequences. The results are robust to alternative measurements and econometric identification strategies.

While prior studies have explored topics such as deferred tax measurement and the impact of income and expense recognition, the authors specifically analyzed how IAS 12 affects deferred taxes and their effect on the market valuation. The authors find that certain accounting standards may not be relevant to the capital market.