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Article
Publication date: 12 July 2011

Larry Wofford, Michael Troilo and Andrew Dorchester

This paper seeks to consider selected aspects of the relationship between real estate valuation, human cognition, and translational research. Its purpose is to introduce…

1731

Abstract

Purpose

This paper seeks to consider selected aspects of the relationship between real estate valuation, human cognition, and translational research. Its purpose is to introduce the concept of cognitive risk, to propose a framework for mitigating it, and to develop a stream of translational research to transfer knowledge to real estate valuers.

Design/methodology/approach

The paper takes an interdisciplinary conceptual approach towards the development and study of cognitive risk, and its mitigation. It proposes to broaden the study of behavioral issues in real estate valuation beyond cognitive psychology to cognitive science, and also fields such as time studies and human failure, in order to identify and mitigate cognitive risk.

Findings

The paper offers a framework as a starting‐point for handling cognitive risk. It borrows the concept of translational research from medicine to discuss how basic theoretical knowledge may be communicated to real estate valuers to improve performance.

Originality/value

The paper's concept of cognitive risk and discussion of its mitigation will enrich behavioral real estate by introducing the wisdom of other fields such as cognitive science and time studies. These fields have much to say about managing the risk surrounding human cognition, and will be of both academic and practical value to the discipline of real estate valuation.

Details

Journal of Property Investment & Finance, vol. 29 no. 4/5
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 8 October 2019

Guohong Wang, Xiaoli Li, Jianlin Zhou and Shulin Lan

The purpose of this paper is to focus on the risk decision making of entrepreneurial team, deconstruct the intermediate process mechanism of cognitive adaptability in…

Abstract

Purpose

The purpose of this paper is to focus on the risk decision making of entrepreneurial team, deconstruct the intermediate process mechanism of cognitive adaptability in promoting risk decision making and reveal the role of opportunity identification and entrepreneurial efficacy in the decision-making process, which clarifies how cognitive adaptability affects decision-making speed and effect.

Design/methodology/approach

This study establishes a relationship model among entrepreneurial team’s cognitive adaptability, opportunity identification, entrepreneurial efficacy and risk decision making, and selects 316 entrepreneurial teams to empirically study the relationship among core variables using Bootstrap analysis and Johnson–Neyman technology.

Findings

Cognitive adaptability though has no direct impact on risk decision-making speed, whereas it directly affects risk decision-making effect; opportunity identification has a full mediating effect between cognitive adaptability and decision-making speed, and a partial mediating effect between cognitive adaptability and decision-making effect; entrepreneurial efficacy plays a moderating role between opportunity identification and decision-making speed, and a same role between opportunity identification and decision-making effect.

Research limitations/implications

First, in setting the research model, the study does not take other moderators into consideration, which might be improved. Second, the study ignores the origin and formation of entrepreneurial team’s cognitive adaptability, the predisposing factors of which might be discussed in the future research.

Practical implications

The practical implication of this paper is to guide the entrepreneurial team to turn their focus on the impact of highly implicit cognitive adaptability on decision making, which might be divided into two aspects: the first is to enhance the cognitive adaptability of the entrepreneurial team, cultivate team members’ self-examination awareness and self-monitoring habits. The second is to strengthen team’s psychological capital and value the cultivation of entrepreneurial efficacy.

Originality/value

This paper breaks through the team process and structure perspectives, explores the driving mechanism of entrepreneurial team risk decision making from team cognition perspective, and deconstructs the logical framework of cognitive adaptability’s influence on risk decision making. This paper applies Johnson–Neyman technology to quantify the mediating effect entrepreneurial efficacy exerts on cognitive adaptability and decision-making speed, as well as on cognitive adaptability and decision-making effect.

Details

Industrial Management & Data Systems, vol. 120 no. 2
Type: Research Article
ISSN: 0263-5577

Keywords

Article
Publication date: 1 August 2016

Shu-Hao Chang, Wen-Hai Chih, Dah-Kwei Liou and Yu-Ting Yang

The purpose of this paper is to explore the relationships among intrinsic motivation, extrinsic motivation, flow, cognitive attitudes, perceived satisfaction, and purchase…

6501

Abstract

Purpose

The purpose of this paper is to explore the relationships among intrinsic motivation, extrinsic motivation, flow, cognitive attitudes, perceived satisfaction, and purchase intention of consumers’ online shopping from a cognitive attitudes perspective. This study collected data from consumers having bought goods on the e-shopping platform.

Design/methodology/approach

This study adopted online questionnaire through my3q (www.my3q.com) for data collection. This research collected and analyzed 866 samples by using the structural equation modeling for validation of the proposed model.

Findings

The results indicated that hedonic value, utilitarian value, security, and privacy significantly affected cognitive attitudes (i.e. cognitive trust and perceived risk). Cognitive attitudes significantly affected perceived satisfaction and purchase intention, respectively. Flow significantly and positively influenced cognitive trust and purchase intentions, respectively. Cognitive trust is the mediators between motivations/flow and perceived satisfaction/purchase intention.

Research limitations/implications

Both of intrinsic motivation and extrinsic motivation can reflect the cognitive and conscious plan of an individual for a particular task. The cognitive trust and perceived risk are partial mediator and full mediator in the model, respectively. Hedonic value, utilitarian value, security, privacy, and flow all affect the individual’s perceived satisfaction and purchase intention through cognitive trust and perceived risk in the context of online shopping. Cognitive trust is a full mediator of the effects of privacy on purchase intention. It indicates that consumers must fully trust the website to ensure that the information provided by consumers in the transaction will not spread out for the protection of personal privacy.

Practical implications

This study aimed to assist the marketing personnel of the EC industry to examine the key influential factors of consumers’ purchase satisfactions and purchase intentions. The results of this study indicated that cognitive trust is the foundation for gaining and retaining customers. The classification of consumer motivations facilitates the understanding of consumers’ demands and accurate interpretation of consumers’ needs. The main influential factor of cognitive trust is utilitarian value. Therefore, this study states that the primary intrinsic motivation of online shopping for most consumers is utilitarian value (e.g. saving time, the cost of searching for the appropriate products, and increasing purchasing efficiency).

Social implications

Websites should strengthen the quality and quantity of product information. In addition, websites should provide a dynamic presentation of the product by presenting in various forms (multimedia and text description) about product-related information in order to increase consumers’ hedonic value. For the aspects of security and privacy, websites should provide consumers with reliable safety features, such as secure socket layer or digital signature, smooth communication channel (specific phone services and e-mail address), and consumer’s privacy statements. Finally, web design should meet with the consumer experience model in order to make the website easy to use and order the purchase from the website directly. Websites should also increase the fluency and positive experience of consumers and improve the interaction of a website. Meanwhile, websites need to feedback the consumer problem instantly and provide customized information in order to increase the chance of interaction between the consumers and the website.

Originality/value

Relevant studies have explored online shopping from various perspectives, but few studies have examined consumers’ cognitive attitudes toward websites from the consumer motivation perspective. Thus, this study focussed on the influences of consumers’ intrinsic and extrinsic motivations (e.g. hedonic value, utilitarian value, security, and privacy) on their cognitive attitudes toward websites. In addition, with the rapid development of the internet in recent years, internet users’ online flow experiences have gained increased attention. The creation of attractive consumption conditions is vital for website managers to provide consumers with flow experiences. Therefore, this study included consumers’ flow in the proposed model.

Details

Information Technology & People, vol. 29 no. 3
Type: Research Article
ISSN: 0959-3845

Keywords

Article
Publication date: 15 October 2021

Muhammad Mushafiq, Shamsa Khalid, Muhammad Khalid Sohail and Tayyebah Sehar

The main purpose of this study is to investigate the investment choices' relationship with cognitive abilities, risk aversion, risky investment intentions, subjective…

Abstract

Purpose

The main purpose of this study is to investigate the investment choices' relationship with cognitive abilities, risk aversion, risky investment intentions, subjective financial literacy and objective financial literacy.

Design/methodology/approach

To examine the relationship, two investment choices were given to 256 subjects from Pakistan. Questionnaire had total 20 questions for measuring five variables. To review this nexus, discriminant analysis was used as to explore the depth of the nexus that is the ability of the variables to predict the investment choices.

Findings

This study establishes the findings that Investment choices are guided by risk aversion, risky investment intentions, financial literacy (subjective and objective) and cognitive abilities. The risk aversion has negative relation to investment choices and other variables depict positive relationship to with investment choices.

Practical implications

This study provides a new and useful understanding into the existing literature on investment choices. The results are significant as the cognitive abilities show a positive contribution to the investment choices. This is point of significance as the portfolio managers and advisors would get help in regards of advising investments as they are aware what factors impact the investment choices.

Originality/value

This study is novel in its nature to evaluate investment choices using the cognitive ability alongside risk attitudes and financial literacy.

Details

Journal of Economic and Administrative Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1026-4116

Keywords

Article
Publication date: 24 February 2022

Xuhui Wang, Bo Zhao and Jiaqi Chen

As Chinese imported cross-border e-commerce has entered a stage of rapid development, the problem of consumer shopping risk is increasingly prominent and the crisis of…

Abstract

Purpose

As Chinese imported cross-border e-commerce has entered a stage of rapid development, the problem of consumer shopping risk is increasingly prominent and the crisis of consumer trust is intensified. The theory of establishing consumer trust in traditional online shopping can no longer meet the need of cross-border context.

Design/methodology/approach

The researchers used the methods of network logs and grounded theory. The data collection and analysis are conducted on consumer comments from Tmall Global, NetEase Koala and JD Worldwide in the product comment area. This article explored and extracted the moderating variables of consumer perceived risk and cross-border characteristics in cross-border e-commerce. Based on the theory of “perceived risk – consumer trust – consumer purchase decision – making,” this article deduced mechanism of consumer dynamic trust based on the whole process of cross-border e-commerce transaction.

Findings

In the prepurchase, purchase and postpurchase stages of cross-border e-commerce transactions, consumers' perceived cognitive risk, transaction risk and utility risk are moderated by the cultural distance, geographical distance and institutional distance caused by the cross-border transaction subjects. On this basis, the preinfluence factors of trust in each transaction stage are synthesized to respectively influence the establishment of cognitive trust, emotional trust and behavioral trust, so as to affect consumers to make the order payment, confirm receipt and praise repurchase decisions. At the same time, with the advance of prepurchase, purchase and postpurchase transactions in cross-border online shopping, consumer trust presents a dynamic evolutionary path of “cognitive trust – emotional trust – behavioral trust.”

Originality/value

This article expands the application context of the theory of consumer rational behavior from traditional online shopping to the context of cross-border online shopping and expands the scope of interpretation of the theory of consumer rational behavior. This article also supplements the theoretical gaps in the dynamic evolution of consumer trust in cross-border online shopping, enriches the decision-making process model of consumers in the context of cross-border online shopping and provides new ideas for follow-up research.

Details

Journal of Contemporary Marketing Science, vol. 5 no. 1
Type: Research Article
ISSN: 2516-7480

Keywords

Article
Publication date: 28 October 2022

Eunyoo Jang, Joanne Jung-Eun Yoo and Meehee Cho

As commercial cooking is known as a source that generates great concentrations of particulate matter (PM) emissions first accumulating in kitchens before spreading to…

Abstract

Purpose

As commercial cooking is known as a source that generates great concentrations of particulate matter (PM) emissions first accumulating in kitchens before spreading to dining areas, this study aims to explore how to improve restaurants’ efforts to reduce PM emissions by the application of attribution theory.

Design/methodology/approach

Data were obtained from restaurant managers operating their business in South Korea, considered to be qualified to provide accurate information regarding the survey questions. A scenario-based experimental approach was used to test the hypothesized relationships. Cognitive and emotional risk judgements were assessed for its potential interaction effects on the relationships between restaurant perceptions of PM source attributions, preventions attitudes and mitigation behavioral intentions.

Findings

Results revealed that perceptions of PM main sources were attributed to internal rather than external factors, which improved mitigation behavioral intentions. Such an effect was partially mediated through PM pollution prevention attitudes. Additionally, when applying external source attributions, PM mitigation behavioral intentions were improved by cognitive risk judgements, and PM prevention attitudes were enhanced by affective risk judgements.

Research limitations/implications

Results assist restaurants to better understand their operations that may be emitting significant levels of PM, thereby encouraging them to set more ambitious and effective PM mitigation operational guidelines for their employees and diners.

Originality/value

This study provides a fundamental baseline of management perceptions regarding PM emissions related to restaurant mitigation behavioral intentions. Results are useful in designing appropriate communication strategies addressing restaurant PM pollution issues to improve internal restaurant practices regarding clean air quality.

Details

International Journal of Contemporary Hospitality Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0959-6119

Keywords

Article
Publication date: 18 September 2019

Jana van Wyk and Riaan Rudman

The purpose of this paper was to develop a comprehensive best practices checklist that can be used by governing bodies to identify and evaluate an enterprise’s risk

Abstract

Purpose

The purpose of this paper was to develop a comprehensive best practices checklist that can be used by governing bodies to identify and evaluate an enterprise’s risk exposure around cognitive systems (CSs) and formulate mitigating internal controls that can address these risks.

Design/methodology/approach

COBIT 5 was scrutinised to identify the processes which are necessary for the effective governance of CSs. The applicable processes were used to identify significant risks relating to cognitive computing (CC), as well as to develop a best practices control checklist.

Findings

The research output developed was a best practices checklist and executive summary that would assist enterprises in evaluating their CC risk exposure and assess the adequacy of existing controls. The first checklist highlights the incremental risk exposure which needs to be addressed. To evaluate the effectiveness of the cognitive computing control structure, a best practices checklist was developed that can be used by internal auditors and risk and audit committees. An executive summary was developed to highlight the key focus areas that governing bodies need to consider.

Practical implications

The checklist provides a tool to assess the enterprises’ risk exposure, evaluate the existing CC control mechanisms and identify areas that require management attention.

Originality/value

The checklists and executive summary developed provides enterprises with a comprehensive checklist that can be used, while at the same time allowing them to discharge their responsibility in terms of King IV.

Details

Meditari Accountancy Research, vol. 27 no. 5
Type: Research Article
ISSN: 2049-372X

Keywords

Article
Publication date: 22 October 2019

Ahmad Rashid and Halim Boussabiane

The purpose of this paper is to analyze the existing project management literature by conceptualizing the influence of personality and cognitive traits on project…

Abstract

Purpose

The purpose of this paper is to analyze the existing project management literature by conceptualizing the influence of personality and cognitive traits on project managers’ risk-taking behaviour.

Design/methodology/approach

The paper is based on an in-depth analysis of the existing literature to develop framework for conceptualizing risk propensity in project management.

Findings

The results indicate that the Big Five personality traits cannot capture risk propensity in risk-taking behaviour on their own. Cognitive traits are indispensable components in risk propensity.

Research limitations/implications

The paper examines the association between risk propensity theories and personality traits. The paper framed project managers’ personality traits that can impact their tendency to take risky decisions, that is risk propensity.

Originality/value

This paper expands literature by increasing our understanding of personality and cognitive traits in risk propensity.

Details

International Journal of Managing Projects in Business, vol. 14 no. 2
Type: Research Article
ISSN: 1753-8378

Keywords

Article
Publication date: 20 August 2018

Ruchi Agarwal and Sanjay Kallapur

The purpose of this study is to explore the best practices for improving risk culture and defining the role of actors in risk governance.

1317

Abstract

Purpose

The purpose of this study is to explore the best practices for improving risk culture and defining the role of actors in risk governance.

Design/methodology/approach

This paper presents an exemplar case of a British insurance company by using a qualitative case research approach.

Findings

The case study shows how the company was successful in changing from a compliance-based and defensive risk culture to a cognitive risk culture by using a systems thinking approach. Cognitive risk culture ensures that everybody understands risks and their own roles in risk governance. The change was accomplished by adding an operational layer between the first and second lines of defense and developing tools to better communicate risks throughout the organization.

Practical implications

Practitioners can potentially improve risk governance by using the company’s approach. The UK regulator’s initiative to improve risk culture can potentially be followed by other regulators.

Originality/value

This is among the few studies that describe actual examples of how a company can improve risk culture using the systems approach and how systems thinking simultaneously resolves several other issues such as poor risk reporting and lack of clarity in roles and responsibilities.

Details

The Journal of Risk Finance, vol. 19 no. 4
Type: Research Article
ISSN: 1526-5943

Keywords

Article
Publication date: 27 November 2019

Meng Lu, Yang Qiang, Du Jiangang and Dong Zerui

The purpose of this paper is to examine the interaction effect of innovative product category and presentation order on consumer consumer’s purchasing intention and the…

Abstract

Purpose

The purpose of this paper is to examine the interaction effect of innovative product category and presentation order on consumer consumer’s purchasing intention and the mediating role of perceived novelty and risk perception.

Design/methodology/approach

The authors examined the hypotheses in three experiment studies. In Study 1, the authors primed innovative product category and presentation order on consumer consumer’s purchasing intention. In Study 2, the authors measured the mediating role of perceived novelty and risk perception. In Study 3, they validated the moderating effect of picture and text consistency on the improvement of purchase preference.

Findings

The results reveal that RNP/INP and presentation order (from whole to part/from part to whole) could enhance consumers’ purchase intention and verify the mediating role of perceived novelty and risk perception, based on which a complete internal mechanism model is constructed. The third experiment shows the moderating effect of picture and text consistency on the improvement of purchase preference by matching the category and presentation order of innovative products.

Originality/value

Prior literature on the thinking mode of holistic and partial processing has been mostly applied to the cognitive field of reading and text labeling. In this study, using the holistic (local) processing thinking model and anchoring theory, eye movement experiments and situational experiments, the audience’s analysis framework of information processing mechanism is constructed. The unique phenomenon of product category and overall (local) presentation order coexisting in innovative product advertisement is considered comprehensively.

Details

Journal of Contemporary Marketing Science, vol. 2 no. 3
Type: Research Article
ISSN: 2516-7480

Keywords

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