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This study compared the results of self-report and ability-based tests of problem-solving abilities of 144 hospitality managers working at hotels and restaurants through an online survey. In the first stage of the study, the managers were asked to fill in the self-report problem-solving ability scale by Tesone et al. (2010). In the second stage of the study, the managers were asked to respond to questions in a case-study-based problem-solving test.

Problem-solving is a key aspect of business process management. This study aims to investigate and compare hospitality managers' actual and claimed (self-report) problem-solving abilities. A lack of unawareness of the actual level of skills may be an important problem as managers who tend to have inflated self-efficacy beliefs are less likely to allocate resources, e.g. time, money and effort, to develop a particular skill or ability they lack. They are also more likely to take risks regarding that skill or ability.

The results of the study showed that there was a major difference between the results of the self-report test and the actual test. This meant that the managers who participated in the study had inflated self-efficacy beliefs regarding their problem-solving abilities, i.e. they operated under the influence of the Dunning–Kruger effect. The study showed that self-report tests that are commonly used in businesses in recruitment and promotion may not provide a correct level of people's abilities. In general, managers who have inflated self-efficacy beliefs are less likely to be interested in developing a particular skill due to the overconfidence arising from their inflated self-efficacy beliefs. The study showed that managers were less likely to allocate resources, e.g. time, money and effort, to develop a particular skill they lack and are more likely to take risks regarding that particular skill.

Managers in the hospitality industry appear to lack problem solving-abilities. While the hospitality managers assigned high marks for their problem-solving abilities in a self-report problem-solving scale and appeared to be performing significantly good overall in problem-solving, they performed poorly in an actual problem solving exercise. It is recommended that businesses rather than depending on self-report problem-solving scales, they should resort to ability-based scales or exercises that actually measure managers' problem-solving abilities. Also, as managers who had formal tourism and hospitality education performed poorly, tourism and hospitality programme managers at universities are recommend to review their syllabi and curriculum so as to help support their graduates' problem-solving abilities.

The study is original as no previous study compared managers' problem-solving abilities by using self-report and ability-based tests. The study has implications for researchers in terms of developing knowledge, ability and skill-based scales in the future. The study has also significant practical implications for the practitioners.

In the face of increasing political polarization worldwide, this study explores whether people create biased perceptions of political knowledge and how this affects their selection and evaluation of political content on YouTube.

For this study, an online experiment was conducted with 441 panels of South Korean respondents. In the first phase, participants answered 10 questions designed to capture their level of objective political knowledge, and for each question, they indicated whether they had responded to that question correctly as a means of measuring their subjective political knowledge. In the second phase, two types of YouTube thumbnails were presented to represent progressive and conservative claims on two controversial political issues, and participants rated and selected the content they would like to see.

Participants with low political knowledge perceived their knowledge as more than it really was. In contrast, participants with high political knowledge perceived their political knowledge as less than it really was. This biased perception of political knowledge influences respondents' choice and evaluation of political YouTube channel videos.

At a time when political polarization is increasing around the world, this study sought to explore how perceptions of political knowledge differ from actual political knowledge by applying the Dunning-Kruger effect. The authors also used political YouTube channels, whose role in forming public opinion and political influence is rapidly growing, to study the behavior and attitudes of a group of Korean respondents in the media according to their actual and perceived level of political literacy.

Wine producers and marketing professionals increasingly recognize the significance of online wine reviews. Emotions have long been acknowledged as influential in online review behaviors. However, considering the multisensory nature of the wine experience, consumers’ wine expertise also plays a substantial role. Hence, this study aims to examine the online review behaviors exhibited by wine consumers through the dual lens of wine expertise and emotionality.

Two studies were conducted to address the research question. Study 1 explored the relationship among expertise, emotionality and review behaviors using a panel data model, with a data set consisting of 4,600,922 reviews from Vivino.com. Study 2 used a multigroup structural equation modeling (SEM) analysis using data obtained from an online survey. Study 2 aimed to investigate the interactive impact of emotionality and expertise on online review intention mediated by customer engagement.

The findings from Study 1 demonstrated a positive correlation between emotionality and online wine reviews. In addition, expertise displayed a bell-shaped relationship with both emotionality and online wine reviews. Study 2, in turn, uncovered that novices and experts experienced a direct influence of emotionality on their review intentions. In contrast, for those classified as ordinary, the influence of emotionality on review intention occurred indirectly through the mediation of customer engagement.

This paper extends the current literature on online wine review by integrating the effect of emotion and expertise on online wine review behaviors, expanding the examination of Dunning–Kruger effect in the wine literature. It also adds value by introducing emotionality and the Evaluative Lexicon into the hospitality literature, extending the measurement of emotion from valence and extremity to a third dimension, emotionality, in hospitality and wine domains.

This study examines the association between financial literacy confidence and financial satisfaction. The authors posit that overconfident poor performers will experience greater levels of financial satisfaction and underconfident high performers will experience lower levels of financial satisfaction.

Based on the results of an objective financial literacy assessment and a subjective financial literacy assessment, variables measuring study participants' financial literacy overconfidence and financial literacy underconfidence are constructed. The variables are analyzed for their associations with financial satisfaction.

The results from the multivariate analysis suggest that financial literacy overconfidence (underconfidence) is associated positively (negatively) with higher levels of financial satisfaction and is associated negatively (positively) with lower levels of financial satisfaction.

The discussion first highlights that to increase objective financial literacy, the disconnect between subjective financial literacy assessment and objective financial literacy must be recognized. Secondly, the discussion encourages financial literacy and education programs to incorporate behavioral education, which can provide learners with an awareness of the role of financial literacy confidence when making financial decisions.

Financial literacy overconfidence can result in an inability to recognize the realities of one's financial situation. Individuals who are overconfident in their level of financial literacy preformed lower on an objective assessment of their financial literacy, yet also tended to have a greater sense of financial satisfaction. This finding not only suggests that financial literacy overconfidence results in financial ineptitude, but also suggest that financial literacy overconfidence can result in specious conclusions regarding one's financial situation. The financial literacy underconfidence finding suggests that those who are financial literate, and who are also underconfident in their financial literacy, are less likely to have high financial satisfaction.

The research investigates valuers' understanding of the value of sustainability in property and its' consideration in valuation practice in Australia. This paper explores valuers' perceptions of the relationships between sustainability and market values, sustainability and valuation variables, and the value influence of industry sustainability certification schemes. Further, this paper tracks prevalence of certified buildings in Australian commercial markets and the evolution of valuers' knowledge of sustainability certifications used in Australia.

This paper reports on the next rendition of a longitudinal study examining valuers’ practice in Australia. This research explores the evolution of Australian valuers' perception and knowledge of sustainability in valuation practice. The survey data has been periodically collected from practising valuers from 2007 to 2021. The survey questions investigate valuers' knowledge development, understanding, reporting and consideration of the relationship between sustainability and market value.

The results have identified the evolution of the influence of normative research on valuers' perceptions of the relationship between sustainability and value; with a clearer understanding emerging over time of where the value relationships are identified in valuation variables. Greater alignment between empirical Australian studies and valuers' perceptions of the influence of sustainability ratings on value, demonstrate the value connection for higher rated buildings under NABERS (energy rating) and Green Star. Whilst only 41% of the study's participants are including sustainability in their valuation reports, they include a higher level of commentary on building descriptions and initiatives, building ratings, and reporting of owner and tenant objectives, than in previous studies. Knowledge development relating to sustainability certification tool, NABERS was identified. This is likely linked to the introduction of mandatory disclosure legislation. This has also led to increased awareness and valuers' knowledge of the differences between the two key rating tools used in Australia.

The research has several limitations: firstly, recruitment of valuers and the number of valuers' responses has varied over time; secondly, due to collection methods respondents have a greater likelihood of having an interest in and knowledge of sustainability creating potential for positive bias; thirdly, respondents may have responded to the survey in different years, but due to anonymity there has been no ability to track this. The results provide insights into the Australian valuation profession but may not be fully representative of the profession overall in Australia.

The broader agenda of net zero, climate change, mitigation and carbon requirements, whether driven by market forces or government legislation, are generating changes in property markets as investors' reconsider their positions and model the implications of carbon emissions on their bottom lines. Introductions of policy and legislation over time in the Australian context have led to changes in valuation practice and increasing consideration of energy efficiency and ratings in the valuation of assets. However, further guidance and research still is required in Australia to assist in the knowledge development of valuers, and their ability to consider the emerging effects of sustainability, net zero and other market driven objectives including legislation, and how these may affect or influence their evaluation of market evidence and thus property values.

The research has tracked valuers' understanding, knowledge, and consideration of sustainability and energy efficiency in valuation practice since 2007. In that time the research has found that, as the market has evolved and more rated buildings are built (or retrofitted), so too has valuers' knowledge and consideration in valuation practices evolved. Valuers are more engaged with industry rating tools such as NABERS. This suggests that the Australian mandatory disclosure policies have contributed to changes in the market, which are then interpreted by valuers and reflected in their perceptions and consideration of energy ratings in valuation practice.

Managers must make numerous strategic decisions in order to initiate and implement a business model innovation (BMI). This paper examines how managers perceive the management team interacts when making BMI decisions. The paper also investigates how group biases and board members’ risk willingness affect this process.

Empirical data were collected through 26 in-depth interviews with German managing directors from 13 companies in four industries (mobility, manufacturing, healthcare and energy) to explore three research questions: (1) What group effects are prevalent in BMI group decision-making? (2) What are the key characteristics of BMI group decisions? And (3) what are the potential relationships between BMI group decision-making and managers' risk willingness? A thematic analysis based on Gioia's guidelines was conducted to identify themes in the comprehensive dataset.

First, the results show four typical group biases in BMI group decisions: Groupthink, social influence, hidden profile and group polarization. Findings show that the hidden profile paradigm and groupthink theory are essential in the context of BMI decisions. Second, we developed a BMI decision matrix, including the following key characteristics of BMI group decision-making managerial cohesion, conflict readiness and information- and emotion-based decision behavior. Third, in contrast to previous literature, we found that individual risk aversion can improve the quality of BMI decisions.

This paper provides managers with an opportunity to become aware of group biases that may impede their strategic BMI decisions. Specifically, it points out that managers should consider the key cognitive constraints due to their interactions when making BMI decisions. This work also highlights the importance of risk-averse decision-makers on boards.

This qualitative study contributes to the literature on decision-making by revealing key cognitive group biases in strategic decision-making. This study also enriches the behavioral science research stream of the BMI literature by attributing a critical influence on the quality of BMI decisions to managers' group interactions. In addition, this article provides new perspectives on managers' risk aversion in strategic decision-making.

The development of upcoming inclusive leaders requires not just knowledge of inclusion competencies but also knowledge of how to develop them and when to use them. This chapter examines the effectiveness of combining a psychometric assessment tool – the Inclusion Competencies Inventory (ICI) – and an improvement approach that places developmental responsibility in the hands of the student, not the instructor. The increased need for inclusivity in organizations requires business school graduates, who will soon be taking on the role of organizational leaders, to develop inclusion competencies. We seek to enhance inclusion competencies through a model based on reflective development and cognitive behavioral therapy (CBT). There are several implications for academicians and practitioners who may choose to adopt this unique, participant-driven approach to developing inclusion leadership competencies.

Business graduates’ enterprising capability augments their work readiness, transforming them into professionals capable of driving successful outcomes. At the core lie self-confidence and negotiating competence. However, embedding enterprise education and developing assessments to evidence learning is challenging. This study aims to offer a blueprint for establishing enterprise learning in the classroom and investigating the effectiveness of cultivating negotiating competence and self-confidence.

Modelled on Kolb’s experiential learning cycle, students engage in in-class and real-life negotiations, assessing self-confidence using a scale founded in Bandura’s self-efficacy theory. Open-ended reflections are also submitted. Quantitative data is analysed through multiple linear regression, while quantitative and qualitative data triangulation substantiates enterprise learning in negotiating competence and self-confidence.

Students’ reflections show that low self-confidence poses an initial barrier in negotiations, overcome with successive engagements. Quantitative analysis uncovers response-shift biases, with female and male students overestimating initial self-confidence levels. The gender and difference score type interaction reveals a more pronounced bias among female students starting from a lower baseline than male students, implying a more substantial self-confidence improvement for female students. These findings challenge traditional assumptions about gender differences in negotiations and emphasize the need for nuanced perspectives.

Enterprising capability is pivotal for business professionals. This study highlights the advancement of negotiating competence and self-confidence. It contributes uniquely to the development of enterprise education pedagogy. Focusing on nuanced gender differences challenges prevailing assumptions, providing a perspective to the discourse on negotiating competence and self-confidence in management training.

Guided by the social exchange theory, this study aims to examine the mediating relationship among trust in employee, felt trust, and trust in supervisor, and these trust-related factors’ direct and indirect effects on frontline hotel employees’ customer-focused voice and silence.

Survey questionnaires were distributed to collect 307 valid paired supervisor–employee responses from 32 hotels in Taiwan. Structured equation modeling was used to test the hypotheses.

First, treating trust-related variables as two-dimensional constructs (reliance and disclosure), the results confirmed that reliance-based trust in employee increases trust in supervisor through felt trust. Second, supervisor trust in employee was generally stronger than employee felt trust. Third, while felt reliance and disclosure-based trust in supervisor were found to promote customer-focused voice and discourage silence, such opposite effects on voice and silence were not observed for reliance-based trust in employee, felt disclosure and reliance-based trust in supervisor. Fourth, indirect effects of trust in employee and felt trust on voice and silence through trust in supervisor received partial support.

This study provides business insights into managing frontline hotel employees’ voice/silence behaviors through trusting relationships.

This study verified employee felt trust as a mediating mechanism in their trusting relationships with supervisors as well as supervisors’ roles in initiating trust in vertical dyads. Using a two-dimensional trust measure, our analysis illustrated the differential effects of trust-related variables on customer-focused voice and silence, shedding light on the double-edged effects of felt trust and trust in supervisor as well as the conceptual distinction between voice and silence.