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1 – 10 of 243Cyrus A. Ramezani and James J. Ahern
As digital technologies expand access to new forms of legalized gambling, including sports betting and online gaming, it is important to assess the impact of macroeconomic and…
Abstract
Purpose
As digital technologies expand access to new forms of legalized gambling, including sports betting and online gaming, it is important to assess the impact of macroeconomic and equity market outcomes on fund flows into gambling. The authors’ findings will be of interest to policymakers and the gambling industry, as various forms of gambling, including day trading, gain broad public acceptance.
Design/methodology/approach
The authors examine the impact of macroeconomic forces, business cycles, and financial market wealth on gambling. The authors propose a nonlinear model linking aggregate gambling expenditures to macroeconomic, stock market, and gambling industry variables. The authors estimate the proposed model using nonlinear estimation procedures.
Findings
The authors find that price of wagering, incomes, and supply of gambling opportunities are the primary determinants of wagering demand. Aggregate wagering is negatively impacted by realized stock returns and market volatility, but rises during recessions.
Originality/value
To the best of the authors’ knowledge, the questions posed and addressed in this manuscript have not been addressed in prior literature.
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Brendan Dwyer, Stephen L. Shapiro and Joris Drayer
The purpose of this paper was (1) to examine the underexplored intersection of sports betting and favorite team loyalty, and (2) to assess differences in gambling behavior among…
Abstract
Purpose
The purpose of this paper was (1) to examine the underexplored intersection of sports betting and favorite team loyalty, and (2) to assess differences in gambling behavior among sport bettors by varying levels of team loyalty.
Design/methodology/approach
A total of 1,555 National Football League (NFL) bettors and non-betting NFL fans were surveyed to assess media consumption across a mix of team loyalty attitudes and betting behaviors.
Findings
Statistically significant differences were found between four types of NFL fans (casual, team loyalty-dominant, betting-dominant and hybrid) as it relates to media consumption in various forms. Most notably, the results suggested symbiosis between the activities.
Research limitations/implications
The symbiosis finding, though preliminary, suggests the activity provides an additional platform for consumers to connect with spectator sport. Furthermore, the act of betting, like participation in fantasy sports, appears to spur consumption of the NFL product generally. The study, however, was limited to NFL fans, did not specify the method for sports betting, nor the intensity of gambling.
Practical implications
Teams should not worry that betting detracts from fan engagement with the team product. Also, leagues and media providers should continue to highlight betting content as participants consume at higher rates than non-participating sports fans.
Social implications
Team fandom may potentially moderate problem behavior among bettors. The betting results indicate being a loyal team fan lowers one’s gambling spend per month and largest bet compared to non-loyal bettors. However, the hybrid fan showed significantly higher media consumption levels.
Originality/value
Sports fans have more opportunities to interact and engage with their favorite games than ever before. However, consumers have limited amounts of time and money, and this study is one of the first to examine differences in fan interests and behaviors related to sport betting and team loyalty and the resulting viewership and consumption behavior.
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UNITED STATES: Gambling growth will continue
Dan Daugaard, Jing Jia and Zhongtian Li
This study aims to provide a precise understanding of how corporate sustainability information is used in socially responsible investing (SRI). The study is motivated by the lack…
Abstract
Purpose
This study aims to provide a precise understanding of how corporate sustainability information is used in socially responsible investing (SRI). The study is motivated by the lack of a recognised body of knowledge on this issue. This study, therefore, collates and reviews relevant studies (67 studies) to provide guidance to investors interested in SRI and identify a research agenda for academics desiring to contribute to this area.
Design/methodology/approach
This study conducts a systemic literature review employing recognised key words and searching the Web of Science. HistCite is utilised to ensure important cited studies are not missed from the collection. The review was conducted from two perspectives: (1) sources of sustainability information and (2) how the information is used in SRI.
Findings
The review identifies five major sources of sustainability information, including corporate reports, ESG ratings, industry affiliation, news and private communication with firms. These sources of information play different roles in the cross section of SRI strategies (i.e. negative and positive screening, active ownership and integration). This study provides guidance on how to use this information in SRI and provides recommendations for future research on how analysts interact with the information, how different informational characteristics impact implementation, ways to improve data quality, improvements to analysis methods and where data use needs to be extended into new strategies.
Originality/value
This review contributes to the SRI literature by inventorying studies of an important, yet omitted aspect, namely, sustainability information. This work also enriches the literature on corporate sustainability information by investigating how this information can be used for a specific purpose, namely, SRI. Given the increasing interest in SRI, this review will provide much-needed guidance for a range of practitioners, including investors and regulators.
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Mauro Sciarelli, Giovanni Landi, Lorenzo Turriziani and Anna Prisco
This study aims to explore the impact of controversial firms’ corporate sustainability assessments on their risk exposure according to the environmental, social and governance…
Abstract
Purpose
This study aims to explore the impact of controversial firms’ corporate sustainability assessments on their risk exposure according to the environmental, social and governance (ESG) paradigm.
Design/methodology/approach
This study conducts a cross-sectional study using the ordinary least squares approach to test how corporate social responsibility practices affect firms’ risk exposure, testing the three single impacts of ESG components and the impact of an overall ESG assessment. This study considers the largest Standard & Poor’s (S&P) 500 stock market index companies and focus on a double-risk measurement – systematic and idiosyncratic – developing an empirical study on 132 controversial companies listed on the S&P index.
Findings
Empirical findings indicate that the overall ESG assessment and the environmental and social sub-dimensions decrease idiosyncratic firm risk. At the same time, no significant results are found according to the systematic risk component.
Originality/value
This study fits into the domain of risk management research, investigating whether additional and non-financial disclosures regarding sustainability issues decrease information asymmetries, improving investors’ decision-making and stakeholders’ relations. Prior literature has shown limited evidence on the relationship between corporate social performance (CSP) and firm risk based on controversial companies. The main contribution is to consider the controversy as an independent factor from the industry sector, given that the implications of CSP actions and practices are mainly firm-specific.
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Pui Kuan Tina Fan, Ja Young (Jacey) Choe and Yeseul Na
This study explores the linkages between various attributes, consequences and values of casino restaurants and the differences in the hierarchical value maps between female and…
Abstract
Purpose
This study explores the linkages between various attributes, consequences and values of casino restaurants and the differences in the hierarchical value maps between female and male customers and between casino players and non-casino players.
Design/methodology/approach
This study was conducted using the means-end chain (MEC) theory. The data were collected using the hard-laddering method. Two hundred forty-one responses were analyzed.
Findings
Attributes such as “taste,” “reasonable prices,” and “discounts” were associated with the values “personal happiness,” “considered,” “life satisfaction,” and “life-quality enhancement” at casino restaurants. Males were found to hold “prompt services” as important when dining at casino restaurants, while females held a “spacious environment” to be critical. Furthermore, “use of casino complimentary credits” was important to casino players, while “free parking” and “comfortable seats” mattered for non-casino players.
Practical implications
It is suggested that casinos add more Asian cuisines in their casino restaurants in Macao to attract customers who value culinary and cultural exploration while simultaneously satisfying tourists from neighboring regions who wish to enjoy familiar foods when they visit Macao. In addition, the authors recommend that casinos develop menu items that can be served quickly to casino players.
Originality/value
This study is based on the MEC theory and broadens the range of studies on casino restaurants. Furthermore, it provides useful information to guide casino restauranteurs in developing their marketing and operational strategies for different customer segments.
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Elle Xiaoyan Huang and Xueying Zou
This paper aims to understand how cultural and creative industries (CCIs) contribute to regional innovation.
Abstract
Purpose
This paper aims to understand how cultural and creative industries (CCIs) contribute to regional innovation.
Design/methodology/approach
This paper explores the process of CCIs contributing to regional innovation and assesses the accumulated outcome of this process.
Findings
The authors conclude that CCIs contribute to a city’s innovation involving five dimensions (time, space, tangible, intangible and division) and four phases (people, tool, collaboration and brokerage) and the contributions are accumulated into positive innovation outcome; however, a highly developed economy is relatively unsupportive of CCIs contributing to regional innovation.
Originality/value
The main contributions are that the authors configured the detailed process of CCIs contributing to regional innovation and the authors quantitatively measured the impact of CCIs on regional innovation, using the Porter diamond model and Shannon entropy to construct the CCI index.
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Tuba Tokucoglu Yumusak, Kadri Gokhan Yilmaz, Seyda Z. Deligonul and Tamer Cavusgil
The slow food movement has become increasingly widespread globally in recent years. This paper focuses on explaining how Turkish cuisine, which has a deep-rooted history, meshes…
Abstract
Purpose
The slow food movement has become increasingly widespread globally in recent years. This paper focuses on explaining how Turkish cuisine, which has a deep-rooted history, meshes with the slow food movement and how this movement affects consumer behavior.
Design/methodology/approach
Based on expert opinion analysis with academics knowledgeable about the food industry and gastronomy, this paper explores how the slow food movement in Turkiye is evolving and how consumers perceive it. Content analysis was applied to the data obtained from the personal interviews.
Findings
The authors find that the slow food movement creates a strong brand image for businesses that rely on emphasizing the responsibility to the ecological system while appealing to the five senses of consumers. It already shows great potential even in emerging markets where typical household discretionary income is modest.
Practical implications
Based on key theories regarding all sales activism cases, the authors have offered insights into the dynamics, motivations and techniques of the case. Ensuring the preservation of the slow food movement, framing and creating associations need to be examined.
Originality/value
Slow food is a movement that emerged against the standard, fast, tasty, but unhealthy products of the fast-food industry. It entails product variety, local flavors and preference for the single-flavor focus embedded in the fast-food movement. The movement started with considerations of gastronomy and later was institutionalized as a social movement phenomenon. Later, it expanded its base to activism, targeting various social issues.
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Li Huang, Xi Song, Matthew Tingchi Liu, Wen-yu Chang and Guicheng James Shi
The purpose of this study is to provide a nuanced understanding of the marketing placebo effect (MPE) of products with reduced sugar labeling and how it forms certain perceptual…
Abstract
Purpose
The purpose of this study is to provide a nuanced understanding of the marketing placebo effect (MPE) of products with reduced sugar labeling and how it forms certain perceptual underpins (perceived healthiness (PH) and perceived tastiness (PT)), with the potential effect of product category and social class in consideration.
Design/methodology/approach
The proposed model is tested using a sample of 822 participants by employing partial least squares structural equation modeling (PLS-SEM). Hypothetical relationships among MPE, PH, PT, purchase intention (PI) and social class are examined for both hedonic and utilitarian products.
Findings
The results highlight the positive role of MPE in leveraging consumer PI through the parallel mediation of PH and PT. The positive effect of MPE on PH and PT was more pronounced for the utilitarian product. In addition, social class negatively moderated the relationship between PH and PI only in the case of the utilitarian product.
Originality/value
This paper contributed to the MPE literature in the food industry by challenging the conventional intuition of “Unhealthy = Tasty” and highlighting the potential of perceived food healthiness to positively influence perceived food tastiness under the effect of MPE. An upper social class would attenuate the positive effect of perceived food healthiness on PI.
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