Search results

Expanding on the real-world financial market framework and considering the current market turmoil, with cryptocurrencies (where contracts for difference (CFDs) are extremely common) (Hasso et al., 2019) displaying unprecedented volatility, the authors aim to test in an online laboratory setting whether displaying a risk warning message is truly effective in reducing the level of risk taken and whether the placement of this method makes a difference.

To explore the impact of risk disclosure framing on risk-taking behavior, the authors conducted an online pair-wise lottery choice experiment. In addition to manipulating risk awareness through the presence or absence of risk warning messages of varying intensity, the authors also considered dynamic inconsistency, cognitive ability and questionnaire-based financial risk tolerance (FRT) scores. The authors aimed to identify potential relationships between these variables and experimentally elicited risk aversion. The authors' study offers valuable insights into the complex nature of risky decision-making and sheds light on the importance of considering dynamic inconsistency in addition to risk awareness and aversion.

The authors' results provide statistical evidence for the efficacy of informative and very salient messages in mitigating risky decision, hinting at several policy implications. The authors also provide some statistical evidence in support of the relationship between cognitive abilities and risk preferences. The authors detect that individual with low cognitive abilities scores display great risk aversion.

This study investigates the impact of risk warning messages on investment decisions in an online laboratory setting – a unique approach. However, the authors go beyond this and also examine the potential influence of dynamic inconsistency on decision-making, adding further value to the literature on this topic. To ensure a comprehensive understanding of the participants, the authors collect data on cognitive ability and FRT using questionnaires. This study provides a simple and cost-effective framework that can be easily replicated in future research – a valuable contribution to the field.

This study aims to examine the role of supplier selection and supplier monitoring in public procurement efficiency in terms of cost reduction in Tanzania.

A structured questionnaire was used to collect cross-sectional survey data from 179 public procuring entities in Tanzania. Structural equation modelling (SEM) was used to analyse the collected data.

The findings revealed that supplier selection and supplier monitoring are positive and significant predictors of public procurement efficiency in terms of cost reduction.

This study was conducted in Tanzanian public procurement contexts, so generalisations should be made with caution. Also, this study collected cross-sectional data; other studies may consider longitudinal data.

This study provides procurement practitioners with insights into selecting the proper suppliers and embracing supplier monitoring to achieve procurement efficiency in terms of cost reduction.

This study examines the effects of supplier selection and supplier monitoring on procurement cost reduction as a measure of public procurement efficiency in the Tanzanian context. Consequently, it provides empirical evidence of supplier management practices in the public procurement context.

This study aims to examine decision factors for global sourcing, differentiated into transcontinental and continental sourcing to obtain insight into locational aspects of sourcing decisions and global trends. This study analyzed various country perceptions to reveal their influence on sourcing decisions. The country of origin (COO) theory explains why certain country perceptions and images influence purchasing experts in their selection of suppliers.

This study used a two-study approach. In Study 1, the authors conducted discrete choice card experiments with 71 purchasing experts located in Europe and the USA to examine the importance of essential decision factors for global sourcing. Given the clear evidence that location is a factor in sourcing decisions, in Study 2 the authors investigated purchasers’ perceptions and images of countries, adding country ranking experiments on various perceived characteristics such as quality, price and technology.

Study 1 provides evidence that the purchasers’ personal relationship with the supplier plays a decisive role in the supplier selection process. While product quality and location impact sourcing decisions, the attraction of the buying company and cultural barriers are less significant. Interestingly, however, these factors seem as important as price to respondents. This implies that a strong relationship with suppliers and good quality products are essential aspects of a reliable and robust supply chain in the post-COVID-19 era. Examining the locational aspect in detail, Study 2 linked the choice card experiments with country ranking experiments. In this study, the authors found that purchasing experts consider that transcontinental countries such as Japan and China offer significant advantages in terms of price and technology. China has enhanced its quality, which is recognizable in the country ranking experiments. Therefore, decisions on global sourcing are not just based on such high-impact factors as price and availability; country perceptions are also influential. Additionally, the significance of the locational aspect could be linked to certain country images of transcontinental suppliers, as the COO theory describes.

The new approach divides global sourcing into transcontinental and European sourcing to evaluate special decision factors and link these factors to the locational aspect of sourcing decisions. To deepen the clear evidence for the locational aspect and investigate the possible influence of country perceptions, the authors applied the COO theory. This approach enabled authors to show the strong influence of country perception on purchasing departments, which is represented by the locational effect. Hence, the success of transcontinental countries relies not only on factors such as their availability but also on the purchasers’ positive perceptions of these countries in terms of technology and price.

This survey explores the application of real options theory to the field of health economics. The integration of options theory offers a valuable framework to address these challenges, providing insights into healthcare investments, policy analysis and patient care pathways.

This research employs the real options theory, a financial concept, to delve into health economics challenges. Through a systematic approach, three distinct models rooted in this theory are crafted and analyzed. Firstly, the study examines the value of investing in emerging health technology, factoring in future advantages, associated costs and unpredictability. The second model is patient-centric, evaluating the choice between immediate treatment switch and waiting for more clarity, while also weighing the associated risks. Lastly, the research assesses pandemic-related government policies, emphasizing the importance of delaying decisions in the face of uncertainties, thereby promoting data-driven policymaking.

Three different real options models are presented in this study to illustrate their applicability and value in aiding decision-makers. (1) The first evaluates investments in new technology, analyzing future benefits, discount rates and benefit volatility to determine investment value. (2) In the second model, a patient has the option of switching treatments now or waiting for more information before optimally switching treatments. However, waiting has its risks, such as disease progression. By modeling the potential benefits and risks of both options, and factoring in the time value, this model aids doctors and patients in making informed decisions based on a quantified assessment of potential outcomes. (3) The third model concerns pandemic policy: governments can end or prolong lockdowns. While awaiting more data on the virus might lead to economic and societal strain, the model emphasizes the economic value of deferring decisions under uncertainty.

This research provides a quantified perspective on various decisions in healthcare, from investments in new technology to treatment choices for patients to government decisions regarding pandemics. By applying real options theory, stakeholders can make more evidence-driven decisions.

Decisions about patient care pathways and pandemic policies have direct societal implications. For instance, choices regarding the prolongation or ending of lockdowns can lead to economic and societal strain.

The originality of this study lies in its application of real options theory, a concept from finance, to the realm of health economics, offering novel insights and analytical tools for decision-makers in the healthcare sector.

The purpose of this paper is to study the effects of sports sponsorship on brand equity using two managerially related outcomes: price premium and market share.

This study uses a best–worst discrete choice experiment (BWDCE) and compares the outcome with that of the purchase intention scale, an established probabilistic measure of purchase intention. The total sample consists of 409 fans of three soccer teams sponsored by three different competing brands: Nike, Adidas and Puma.

With sports sponsorship, fans were willing to pay more for the sponsor’s product, with the sponsoring brand obtaining the highest market share. Prominent brands generally performed better than less prominent brands. The best–worst scaling method was also 35% more accurate in predicting brand choice than a purchase intention scale.

Future research could use the same method to study other types of sponsors, such as title sponsors or other product categories.

Sponsorship managers can use this methodology to assess the return on investment in sponsorship engagement.

Prior sponsorship studies on brand equity tend to ignore market share or fans’ willingness to pay a price premium for a sponsor’s goods and services. However, these two measures are crucial in assessing the effectiveness of sponsorship. This study demonstrates how to conduct such an assessment using the BWDCE method. It provides a clearer picture of sponsorship in terms of its economic value, which is more managerially useful.

The purpose of this paper is to evaluate the insights of founding entrepreneurs to understand what they consider as motivating factors in their decision to act upon entrepreneurial intentions. Using this information, the entrepreneurial trigger event influence was conceptualized, and a scale developed for use in subsequent testable models.

Qualitative and quantitative techniques were used to construct an instrument that measures the presence and influence of entrepreneurial behavior triggers. The concept of triggering events was explored with 14 founding entrepreneurs. Themes emerged from this enquiry process which informed the development of four primary entrepreneurial triggering events. Over 600 entrepreneurs participated in the study. Exploratory factor analysis was used to identify dimensions of entrepreneurial triggers and was tested using confirmatory factor analysis.

Entrepreneurs perceive that personal fulfillment and job dissatisfaction serve as two significant trigger events which will lead individuals to engage in entrepreneurial behaviors. This research supports theorizing that suggests entrepreneurial trigger events have influence in motivating individuals to act upon entrepreneurial intentions and some trigger events may have more influence toward behavior than others.

This research is subject to multiple limitations. Trigger events were limited to those identified in literature and the interviews. Most entrepreneurs participating in this study were from a limited geographic region. The entrepreneurs in this study reported their triggering event based on their memory which could have been affected by inaccurate recall or memory bias. No attempt has been made to model the comparative effects of the different variables on entrepreneurial outcomes. Finally, the entrepreneurial trigger event instrument did not measure the participant's demographics or psychographics which could have played a role in the influence of reported trigger event.

This study extends previous research that trigger events serve as catalysts for entrepreneurial behavior. Findings support the premise that different types of triggers have different levels of influence as antecedents of entrepreneurial behavior. Specifically, positive, negative, internal and external entrepreneurial triggering events were explicated. The Entrepreneurial Trigger Event Scale created to facilitate this study enables researchers to explore the effects of types and perceived influences of precipitating trigger events on the intentions of the individual that result in entrepreneurial behavior. The optimized instrument further expanded Shapero's (1975) proposed theory of the origins of entrepreneurial behavior.

The development of a scale provides researchers with the opportunity to include the influence of entrepreneurial trigger events, as perceived by entrepreneurs, in future testable models. Entrepreneurial development organizations can use the knowledge to assist in understanding when potential entrepreneurs may act upon entrepreneurial intentions. Information gained can have significant implications for understanding the initiation of entrepreneurial behavior, entity establishment and business growth.

This research responds to a call for investigation into the influence of entrepreneurial trigger events on a person's decision to act upon entrepreneurial intentions. It is an early attempt to conceptualize a relevant construct of entrepreneurial trigger event influence and to develop a scale for use in empirical testing. It is distinguished by using planned behaviors, push and pull, motivation and drive reduction theories. These theories are applied to the perceptions of successful entrepreneurs to develop a construct and validate it.

This study investigates theoretical relationships among personality characteristics, preferences for different types of rewards and the propensity to choose a job in auditing by management-related higher education students. Specifically, the authors consider motivation, locus of control (internal and external) and self-efficacy (SE) as personality characteristics and financial, extrinsic, support and intrinsic as types of rewards.

Data were collected through a questionnaire targeted at management-related higher education students in Portugal. Partial least squares structural equation modelling was used to analyse the data.

The full sample results show that different types of motivation, locus of control and SE are related to different reward preferences. The authors also find a positive association between a preference for extrinsic rewards and the propensity to choose a job in auditing. Moreover, when the authors consider the role of working experience in the model, the authors find that the reward preferences that drive the choice of an auditing job differ according to that experience.

This study enriches the literature by assessing preferences for different types of rewards, considering multiple personality characteristics and a comprehensive set of rewards. Furthermore, the authors identify the reward preferences that drive the choice of an auditing career. This knowledge empowers auditing firms to devise recruitment strategies that resonate with candidates’ preferences, which boosts the capacity of these companies to attract new auditors.

Wage employees enter self-employment either directly or in a staged manner and may subsequently undertake multiple stints at self-employment. Extant research on the relationship between entry modes and the persistence and outcomes of self-employment is inconclusive. This study investigates the relationship between wage employees’ initial mode of entry into self-employment and the duration of the subsequent first two stints of self-employment.

This study used a matched longitudinal sample of 9,550 employees who became majority owners of incorporated firms from 2005 to 2016.

The findings demonstrate that the initial mode of entry into self-employment matters for the first two stints at self-employment. Staged entry into self-employment was associated with a shorter first stint and became insignificant for the second stint. Staged entry into self-employment was positively related to the odds of becoming self-employed for the second time in the same firm.

Using a comprehensive and reliable dataset, the paper shifts focus from the aggregated onward journey of novice entrepreneurs (survival as the outcome) to the duration of their self-employment stints. By doing so, the paper offers insights into the process of becoming self-employed and the patterns associated with success/failure in entrepreneurship associated with self-employment duration.

The purpose of this paper was identification and empirical assessment of the differentiation of consumers' attitudes in Ukraine and Poland to Russian brands and other brands offered on the Russian market after Russia’s aggression against Ukraine on February 24, 2022.

The main research methods include a systematic literature review and the authors' own surveys conducted in November 2022. The research sample comprised 950 consumers – 67% of them were Poles, 30% – Ukrainians and 3% from other countries.

A respondents' country (Poland and Ukraine) does not impact attitudes to brands offered on the Russian market after Russia's invasion of Ukraine on February 24, 2022. Moreover, it does not affect and differentiate emotional engagement in the conflict and assistance to war victims. Cluster analysis resulted in identifying two groups on the basis of consumers' declared emotional reactions to the war. The first group was smaller (N = 353, 37.2%), referred to as “indifferent consumers”, and was characterized by a greater inclination to purchase brands offered in Russia. The other cluster, referred to as “sensitive consumers” (N = 597, 62.8%), comprises those engaged in offering assistance to war victims, showing strong emotions in connection with the aggression and military activities and characterized by a clearly negative attitude to Russian and other offered brands and an inclination to boycott these brands.

A short time horizon, the study confined to two countries, difficulties in reaching Ukrainian respondents due to power failures in Ukraine in the period of conducting the survey (November 2022), a non-representative research sample – overrepresentation of people aged 18–25 years.

The research study contributes to the knowledge about consumer brand attitudes and preferences under unique social, economic and market conditions. These conditions were created by Russia's invasion of Ukraine in 2022, as well as the international and global character of the war in Ukraine. The significant implications of the study refer to brand communication policies and companies' CSR-related declarations. A number of consumers' errors were recorded, resulting from wrong brand retrieval, which were rectified at a later stage as a result of international restrictions imposed on Russia, harsh media criticism and social international embargoes imposed on brands offered in Russia. The marketing communication of contemporary global brands should give consideration to the informative function of CSR activities, and the communication process should be continuous. Critical attitudes and an inclination to boycott brands point to the possible consequences faced by inconsistent and ethically doubtful brand policies. This implication is clearly confirmed by the results of the study.

The authors also wish to highlight the implications for practice and society. As mentioned earlier, Polish consumers involved in providing aid to victims of the war also expressed their opposition to the war by boycotting Russian products and international brands remaining in Russia. Popularization of the research results obtained by the authors can be a form of sensitizing the public to the need for long-term relief, awakening global awareness of the essence and importance of sanctions imposed on Russia, as well as the possibility of expressing opposition through individual purchasing decisions and boycotting brands still present in Russia.

The study allowed for identifying consumers' differentiated brand attitudes in two countries: a country inflicted by war (Ukraine) and a front-line country, strongly supporting Ukraine (Poland). The research contributes to consumer behavior theories and studies of consumer attitudes and preferences from the perspective of international corporations' CSR activities under the unique conditions of war. Also, it contributes to the knowledge of the mechanism of forming attitudes to Russian and international brands offered in Russia among CEE consumers.