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Article
Publication date: 13 February 2024

James Dean and Joshua C. Hall

The challenge of predicting changes in aggregate income and stock prices is one that has occupied the research agendas of economists. This paper aims to use the consumption–income…

Abstract

Purpose

The challenge of predicting changes in aggregate income and stock prices is one that has occupied the research agendas of economists. This paper aims to use the consumption–income ratio and the dividend–price ratio to predict future income and stock prices.

Design/methodology/approach

To examine the stability of the consumption–income ratio and the dividend–price ratio, the authors run a two-variable, two-lag reduced-form VAR in the vein of Cochrane (1994), using a lag of each respective ratio as exogenous to the VAR. Additionally, the authors estimate an AR(4) model for income and prices.

Findings

The consumption–income ratio and the dividend–price ratio remain key to understanding future movements in income and stock prices. The consumption–income ratio significantly predicts future income in the USA, and aggregate income is easier to predict than consumption in the VAR model. The dividend–price ratio does not significantly predict future price growth. Consumption and dividend shocks have lasting impacts on income and prices.

Originality/value

The consumption–income ratio and the dividend–price ratio are still key to understanding future movements in income and stock prices. The consumption–income ratio significantly predicts future income in the USA, and aggregate income is easier to predict than consumption in the VAR model. However, the dividend–price ratio does not significantly predict future price growth, a change from previous research from the 1990s, despite the increasing complexity of stock markets. Consumption and dividend shocks have lasting impacts on income and prices and appear to be significant drivers in both the short- and long-run variance in income and prices.

Details

Journal of Financial Economic Policy, vol. 16 no. 3
Type: Research Article
ISSN: 1757-6385

Keywords

Article
Publication date: 18 December 2023

Hendi Yogi Prabowo

The primary purpose of this exploratory paper is to propose a novel analytical framework for examining corruption from a behavioral perspective by highlighting multiple issues…

Abstract

Purpose

The primary purpose of this exploratory paper is to propose a novel analytical framework for examining corruption from a behavioral perspective by highlighting multiple issues associated with consumerism.

Design/methodology/approach

This paper examines the relationship between excessive consumption activities and corrupt acts, drawing upon existing literature on corruption, consumerism and consumption, as well as multiple reports and cases of corruption and money laundering in Indonesia. With regard to corruption networks, this paper analyses the associated behavioral patterns and social dynamics by using the Fraud Triangle and the Fraud Elements Triangle frameworks to examine the phenomenon of living beyond one’s means. This paper also addresses the notion of sacredness in the context of consumer activities and how such sacredness plays a role in causing otherwise honest individuals to engage in corrupt acts.

Findings

The author established that corruption represents a complex societal issue that extends across several dimensions of society, encompassing both horizontal and vertical aspects. Consequently, addressing this problem poses significant challenges. Excessive consumption has been identified as one of the various behavioral concerns that are implicated in the widespread occurrence of corruption in many nations. Individuals who partake in excessive consumption play a role in shaping ethical norms that serve to legitimize and rationalize immoral behavior, therefore fostering a society marked by corruption. The act of engaging in excessive consumption is also associated with cases of money laundering offenses that are connected to corruption and several other illicit activities. The lifestyle of corrupt individuals is one of the primary behavioral concerns associated with corruption, as “living beyond means” is the most common behavioral red flag among occupational fraud offenders worldwide. The phenomenon of consumerism may also shape the minds of individuals as if it were an “implicit religion” due to the fact that it may generate human experiences that elicit highly positive emotions and satisfy certain sacredness-associated characteristics. The pursuit of transcendental experiences through the acquisition and consumption of sacred consumption objects may heighten the incentive to commit fraudulent acts such as corruption.

Research limitations/implications

This self-funded exploratory study uses document analysis to examine the corruption phenomenon in Indonesia. Future studies will benefit from in-depth interviews with former offenders and investigators of corruption.

Practical implications

This exploratory study contributes to advancing corruption prevention strategies. It does this by introducing a novel analytical framework that allows for the examination of several behavioral issues associated with consumerism, which have the potential to foster the proliferation of corruption.

Originality/value

This exploratory study highlights the importance of comprehending the intricacies of consumerism, namely, its adverse effects on the proliferation of corruption.

Details

Journal of Financial Crime, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1359-0790

Keywords

Article
Publication date: 28 February 2024

Hamid Yeganeh

This article analyzes the relationships between different conceptions of time, socioeconomic development and cultural values.

Abstract

Purpose

This article analyzes the relationships between different conceptions of time, socioeconomic development and cultural values.

Design/methodology/approach

We focus on three major aspects of time, namely, 1) duration, 2) orientation and 3) tempo. Furthermore, we draw on modernization theory to distinguish between agrarian/traditional and industrial/modern societies and their respective cultural values.

Findings

Analyses indicate that agrarian/traditional societies with cultural values such as collectivism, survival, religiosity and hierarchical structures are marked by subjective/cyclical/inaccurate, past-oriented and slow-paced conceptions of time. In contrast, industrial/modern societies with cultural values such as individualism, self-expression, secularism and egalitarianism are marked by objective/linear/accurate, future-oriented and accelerated conceptions of time.

Originality/value

This paper introduces an original conceptualization of the three dimensions of time – duration, orientation and tempo – previously overlooked in the literature. Additionally, it provides an in-depth and comprehensive analysis of the relationships between time, culture and socioeconomic development.

Details

International Journal of Sociology and Social Policy, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0144-333X

Keywords

Article
Publication date: 11 July 2023

Bimbisar Irom

The study seeks to contribute to a deeper understanding of the relationship between remediations and participation in new media. By lending some transparency, the analysis hopes…

Abstract

Purpose

The study seeks to contribute to a deeper understanding of the relationship between remediations and participation in new media. By lending some transparency, the analysis hopes to contribute toward generating a critical optics aware of the potentials and pitfalls of emergent media.

Design/methodology/approach

The methodology is visual semiotic analysis. The author make no claim for one, true interpretation or critical judgment about the images.

Findings

In demonstrating some shortfalls of Instagram affordances, the analysis shows how social media sites can develop tools that encourage users to engage in civic consciousness and respectful political debate. The study makes clear that new media tools can hamper or aid participatory logics.

Originality/value

To author’s knowledge, no other study that has analyzed remediated images related to the controversial confirmation of Brett Kavanaugh to the U.S. Supreme Court. It is also important to place these images in the contexts of “iconicity” in emergent media (a concept increasingly being eroded in new media environment).

Details

Online Information Review, vol. 48 no. 2
Type: Research Article
ISSN: 1468-4527

Keywords

Article
Publication date: 28 February 2023

Siu Fung Cheung

This study aims to examine the symbolic meanings of the local shopping malls inscribed by the shoppers from the sociocultural lens other than merely departing from the economic…

Abstract

Purpose

This study aims to examine the symbolic meanings of the local shopping malls inscribed by the shoppers from the sociocultural lens other than merely departing from the economic dimensions.

Design/methodology/approach

In this research, Kwai Chung Plaza was adopted as the case study. The author interviewed 12 local shoppers through an in-depth individual interview. All interviewees were selected through convenience and snowball sampling. All names of the participants in this paper are kept pseudonymous to protect their privacy.

Findings

An integrated model, which consists of three major levels, namely, the spatial, individual and community levels, has been formed to show that the shopping mall was not merely a place for buy-and-sell transactions but rather a place that could be understood as an extension of the street, a body of collective memories and a place for Hongkongers.

Research limitations/implications

The most significant limitation of this study was the lack of a diversified demographic profile adding that the sample was restricted to the young generation. It is recommended that future research should consider including interviews with middle-aged and old-aged shoppers to ensure the generalizability of results. Future research may also consider examining other small/medium-sized shopping malls for comparison.

Originality/value

The findings demonstrated the diversified social roles and functions of the local shopping malls in a community. In addition, the present study, to the author’s knowledge, is one of the few scholarly discussions on small/medium-sized shopping malls from a sociocultural perspective.

Details

Social Transformations in Chinese Societies, vol. 20 no. 1
Type: Research Article
ISSN: 1871-2673

Keywords

Open Access
Article
Publication date: 7 December 2023

Mohamed Ahmed Qotb Sakr, Mohamed H. Elsharnouby and Gamal Sayed AbdelAziz

This paper aims to address three research questions (1) Who is the main stakeholder that shapes Airbnb experience, (2) Does Airbnb offers an authentic travel experience? and (3…

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Abstract

Purpose

This paper aims to address three research questions (1) Who is the main stakeholder that shapes Airbnb experience, (2) Does Airbnb offers an authentic travel experience? and (3) What should be the future research trends in Airbnb?

Design/methodology/approach

This paper uses the systematic literature review (SLR) with a well-defined protocol, research strategy and methods to answer the research questions.

Findings

The review revealed that while Airbnb plays a significant role as the platform provider, the stakeholders influencing the experiences are multifaceted. Hosts, guests, local communities and even regulatory bodies all contribute to shaping the overall Airbnb Experience ecosystem. Hosts, in particular, have a crucial role in curating and delivering unique experiences, which significantly impacts the quality and authenticity of the offerings. On the question of whether Airbnb offers an authentic travel experience, the review uncovered mixed findings. For examples, some studies emphasized the potential for Airbnb to provide authentic and local experiences, allowing travelers to engage with the community and cultural aspects of a destination. However, other studies raised concerns about the commodification and standardization of experiences, leading to a potential loss of authenticity.

Originality/value

This paper is different from previous SLR where previous research systematically reviewed; motivations to use and choose Airbnb, institutionalization of Airbnb, stakeholders of Airbnb. This paper addresses authentic experience as a factor that influences activity participation.

Details

Journal of Humanities and Applied Social Sciences, vol. 6 no. 1
Type: Research Article
ISSN: 2632-279X

Keywords

Article
Publication date: 26 December 2023

Hiral Patel and Gabriela Zapata-Lancaster

This paper aims to highlight a broader definition of good building performance that goes beyond the traditional emphasis on technical aspects, only adopting the lens of the social…

Abstract

Purpose

This paper aims to highlight a broader definition of good building performance that goes beyond the traditional emphasis on technical aspects, only adopting the lens of the social construction of technology (SCOT) in the empirical space of the workplace sector. Several building performance evaluation (BPE) methods focus on technical aspects such as energy consumption, indoor environmental conditions and compliance with building regulations and standards. Technical aspects, albeit important goals, only embed a partial component of what buildings are expected to deliver. There is growing interest in considering the organisational and experiential expectations of building performance, particularly integrating various views of performance as expected by different user groups.

Design/methodology/approach

The paper adopts an archival research method to analyse the archive of the workplace consultants DEGW, particularly focusing on their work on London’s Broadgate development in the 1980s and the 1990s.

Findings

The findings reveal how voices from a pluralistic client organisation can be addressed to articulate a broad definition of building performance that integrates different viewpoints encompassing technical, organisational and experiential expectations. In DEGW’s work, the views on building performance of various stakeholders involved in the everyday use and management of buildings are identified without imposing predetermined agendas or research notions of performance. Particular emphasis is given to understanding clients as not a homogenous entity but consisting of different interest groups, which implies multiple conceptualisations of building performance and the building itself.

Research limitations/implications

The performance expectations of a building vary between organisations and even within any organisation. Moreover, the needs of an organisation will change over time, and the BPE criteria need to be changed to ensure better alignment between organisations and the physical spaces they occupy. A critical reflection on the conceptualisation of “users” and “building” in BPE methods is required to create an integrated approach towards building performance.

Originality/value

The paper offers insights by adopting the theoretical lens of SCOT to explore an integrated approach to building performance that captures the varied needs of building users through the example of London’s Broadgate development.

Details

Journal of Corporate Real Estate , vol. 26 no. 1
Type: Research Article
ISSN: 1463-001X

Keywords

Article
Publication date: 6 October 2023

Emma Pihl Skoog

By studying marketing strategies of the global Weider Nutrition International Group, this study aims to analyse how the industry surrounding fitness equipment and dietary…

Abstract

Purpose

By studying marketing strategies of the global Weider Nutrition International Group, this study aims to analyse how the industry surrounding fitness equipment and dietary supplements interacted with fitness culture through marketing, advertising and consumption in 1950s Scandinavia. The emphasis is on how the Weider Group established their position as a world leader in sports nutrition through mail order partnerships and advertising using bodies and body ideals in their campaigns.

Design/methodology/approach

The Weider Group’s marketing campaigns are studied through close reading of text and images in Scandinavian weightlifting and bodybuilding magazines in the 1950s, guided by a theoretical understanding of the body as a constant and ongoing project.

Findings

This study deepens the historical knowledge of market-driven aspects of sport and exercise. The market for nutrition and fitness products was internationalised in the 1950s. The study shows that cooperation between commercial and civic organisations played a major role in the enterprise of selling fitness and nutrition products.

Originality/value

This paper shows that in marketing the products, the advertisements – which appealed to both men and women – not only struck a tone of intimacy and desire but also cultivated a sense of insecurity and inadequacy, as well as individuals’ responsibility for maintaining their own bodies. The latter was reflected in young men’s letters to magazines in which Weider’s products and training programmes were praised. For women, this opened up a previously male-dominated gym environment.

Details

Journal of Historical Research in Marketing, vol. 15 no. 4
Type: Research Article
ISSN: 1755-750X

Keywords

Article
Publication date: 26 February 2024

Mark Buschgens, Bernardo Figueiredo and Janneke Blijlevens

This paper aims to investigate how and when visual referents in brand visual aesthetics (i.e. colours, shapes, patterns and materials) serve as design applications that enable…

372

Abstract

Purpose

This paper aims to investigate how and when visual referents in brand visual aesthetics (i.e. colours, shapes, patterns and materials) serve as design applications that enable consumer diasporic identity.

Design/methodology/approach

This paper uses an innovative methodology that triangulates 58 in-depth interviews with diasporic consumers, 9 interviews with brand managers and designers and a visual analysis of brands (food retailer, spices and nuts, skincare, hair and cosmetics, ice cream and wine) to provide a view of the phenomenon from multiple perspectives.

Findings

This study illustrates how and when particular applications and compositions of product and design referents support diasporic identity for Middle Eastern consumers living outside the Middle East. Specifically, it illustrates how the design applications of harmonising (applying separate ancestral homeland and culture of living product and design referents simultaneously), homaging (departing from the culture of living product and design referents with a subtle tribute to ancestral homeland culture) and heritaging (departing from the ancestral homeland culture product and design referents with slight updates to a culture of living style) can enable diasporic identity in particular social situations.

Research limitations/implications

Although applied to the Middle Eastern diaspora, this research opens up interesting avenues for future research that assesses diasporic consumers’ responses to brands seeking to use visual design to engage with this market. Moreover, future research should explore these design applications in relation to issues of cultural appreciation and appropriation.

Practical implications

The hybrid design compositions identified in this study can provide brand managers with practical tools for navigating the design process when targeting a diasporic segment. The design applications and their consequences are discussed while visually demonstrating how they can be crafted.

Originality/value

While previous research mainly focused on how consumption from the ancestral homeland occurred, to the best of the authors’ knowledge, this study is the first to examine how hybrid design compositions that combine a diaspora’s ancestral homeland culture and their culture of living simultaneously and to varying degrees resonate with diasporic consumers.

Details

European Journal of Marketing, vol. 58 no. 4
Type: Research Article
ISSN: 0309-0566

Keywords

Article
Publication date: 24 June 2022

Federico De Matteis

Adaptive reuse entails the physical modification of abandoned architectural structures, with the activation of processes and practices leading to the re-incorporation of heritage…

Abstract

Purpose

Adaptive reuse entails the physical modification of abandoned architectural structures, with the activation of processes and practices leading to the re-incorporation of heritage into the contemporary life of communities. This transformation entails an affective adaptation, a re-modulation of how citizens attune to a built environment that has been returned to urban, shared forms of use. By observing the emotional ties that are established between subjects and the spaces they inhabit, affecting forms of dwelling, attachments and corporeal responses, the author can clarify how adaptation purports this affective modification, where the original ambiance is not necessarily altogether overwritten, but may rather merge with the supervening situation to give life to unique assemblages of spatialized feelings.

Design/methodology/approach

Drawing from contemporary phenomenological theories, with their specific focus on the affective and embodied dimension of lived experience, this paper describes and discusses two instances of adaptive reuse, one in Brussels, the second in Rome, highlighting their different processes and spatial outcomes.

Findings

The paper implements recent literature on spatial experience to bring to light conditions found in cases of adaptive reuse. By describing the generators of shared emotions – objects, movements, expressions, materialities, textures – it highlights how the layering of the physical world can lead to both the domestication of affects and to discrepancies and discontinuities in the fabric of experienced space.

Originality/value

There is only a limited literature dedicated to the description of adaptive reuse processes from the contemporary phenomenological perspective. This kind of description can clarify the dynamics unfolding between citizens and experienced space in cases of heritage reuse.

Details

Journal of Cultural Heritage Management and Sustainable Development, vol. 14 no. 1
Type: Research Article
ISSN: 2044-1266

Keywords

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