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Open Access
Article
Publication date: 12 December 2023

Jayesh Prakash Gupta, Hongxiu Li, Hannu Kärkkäinen and Raghava Rao Mukkamala

In this study, the authors sought to investigate how the implicit social ties of both project owners and potential backers are associated with crowdfunding project success.

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Abstract

Purpose

In this study, the authors sought to investigate how the implicit social ties of both project owners and potential backers are associated with crowdfunding project success.

Design/methodology/approach

Drawing on social ties theory and factors that affect crowdfunding success, in this research, the authors developed a model to study how project owners' and potential backers' implicit social ties are associated with crowdfunding projects' degrees of success. The proposed model was empirically tested with crowdfunding data collected from Kickstarter and social media data collected from Twitter. The authors performed the test using an ordinary least squares (OLS) regression model with fixed effects.

Findings

The authors found that project owners' implicit social ties (specifically, their social media activities, degree centrality and betweenness centrality) are significantly and positively associated with crowdfunding projects' degrees of success. Meanwhile, potential project backers' implicit social ties (their social media activities and degree centrality) are negatively associated with crowdfunding projects' degrees of success. The authors also found that project size moderates the effects of project owners' social media activities on projects' degrees of success.

Originality/value

This work contributes to the literature on crowdfunding by investigating how the implicit social ties of both potential backers and project owners on social media are associated with crowdfunding project success. This study extends the previous research on social ties' roles in explaining crowdfunding project success by including implicit social ties, while the literature explored only explicit social ties.

Details

Internet Research, vol. 34 no. 7
Type: Research Article
ISSN: 1066-2243

Keywords

Article
Publication date: 17 September 2024

Arjun Hans, Farah S. Choudhary and Tapas Sudan

The study aims to identify and understand the underlying behavioral tendencies and motivations influencing investor sentiments and examines the relationship between these…

Abstract

Purpose

The study aims to identify and understand the underlying behavioral tendencies and motivations influencing investor sentiments and examines the relationship between these underlying factors and investment decisions during the COVID-19-induced financial risks.

Design/methodology/approach

The study uses the primary data and information collected from 300 Indian retail equity investors using a nonprobability sampling technique, specifically purposive and snowball sampling. This research uses the insights from Phuoc Luong and Thi Thu Ha (2011) and Shefrin (2002) to delineate behavioral factors influencing investment decisions. Structural equation modeling estimates the causal relationship between underlying behavioral factors and investment decisions during the COVID-19-induced financial risks.

Findings

The study establishes that the “Regret Aversion,” “Gambler’s Fallacy” and “Greed” significantly influence investment decisions, and provide a comprehensive understanding of how psychological motivations shape investor behavior. Notably, “Mental Accounting” and “Conservatism” exhibit insignificance, possibly influenced by the unique socioeconomic context of the pandemic. The research contributes to 35% of variance understanding and prompts the researchers and policymakers to tailor investment strategies aligned to these behavioral tendencies.

Research limitations/implications

The findings hold policy implications for investors and policymakers and provide tailored recommendations including investor education programs and regulatory measures to ensure a resilient and informed investment community in the context of India's evolving financial landscapes.

Originality/value

Theoretically, behavior tendencies and motivations have been strongly linked to investment decisions in the stock market. Yet, empirical evidence on this relationship is limited in developing countries where investors focus on risk management. To the best of the authors’ knowledge, this study is among the first to document the influence of underlying behavioral tendencies and motivation factors on investment decisions regarding retail equity in a developing country.

Details

International Journal of Accounting & Information Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1834-7649

Keywords

Open Access
Article
Publication date: 19 September 2024

Srivatsa Maddodi and Srinivasa Rao Kunte

The Indian stock market can be tricky when there's trouble in the world, like wars or big conflicts. It's like trying to read a secret message. We want to figure out what makes…

Abstract

Purpose

The Indian stock market can be tricky when there's trouble in the world, like wars or big conflicts. It's like trying to read a secret message. We want to figure out what makes investors nervous or happy, because their feelings often affect how they buy and sell stocks. We're building a tool to make prediction that uses both numbers and people's opinions.

Design/methodology/approach

Hybrid approach leverages Twitter sentiment, market data, volatility index (VIX) and momentum indicators like moving average convergence divergence (MACD) and relative strength index (RSI) to deliver accurate market insights for informed investment decisions during uncertainty.

Findings

Our study reveals that geopolitical tensions' impact on stock markets is fleeting and confined to the short term. Capitalizing on this insight, we built a ground-breaking predictive model with an impressive 98.47% accuracy in forecasting stock market values during such events.

Originality/value

To the best of the authors' knowledge, this model's originality lies in its focus on short-term impact, novel data fusion and high accuracy. Focus on short-term impact: Our model uniquely identifies and quantifies the fleeting effects of geopolitical tensions on market behavior, a previously under-researched area. Novel data fusion: Combining sentiment analysis with established market indicators like VIX and momentum offers a comprehensive and dynamic approach to predicting market movements during volatile periods. Advanced predictive accuracy: Achieving the prediction accuracy (98.47%) sets this model apart from existing solutions, making it a valuable tool for informed decision-making.

Details

Journal of Capital Markets Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-4774

Keywords

Open Access
Article
Publication date: 22 July 2024

Júlio Lobão and João G. Lopes

The purpose of this study is to investigate the presence of psychological barriers both in the main stock market indices of the Baltic states and the most actively traded…

Abstract

Purpose

The purpose of this study is to investigate the presence of psychological barriers both in the main stock market indices of the Baltic states and the most actively traded individual stocks. A psychological barrier refers to a specific price point, often at round numbers (i.e. powers of 10), that investors believe is challenging to breach, influencing their behavior and trading decisions.

Design/methodology/approach

We conduct uniformity tests and barrier tests, such as barrier proximity tests and barrier hump tests, to evaluate the presence of psychological barriers. Additionally, we explore variations in means and variances near these potential barriers using regression and GARCH analysis.

Findings

The findings reveal that psychological barriers do exist in the Baltic stock markets, particularly within market indices. The Estonian market index stands out with the most pronounced indications of psychological barriers. Individual stocks also display significant changes in means and variances related to potential barriers, albeit with less uniformity.

Practical implications

Collectively, our findings challenge the traditional assumption of random returns within the Baltic stock markets. For practitioners, the finding that psychological barriers exist opens up opportunities for investment strategies that can capitalize on them.

Originality/value

This study is the first to comprehensively investigate psychological barriers in the Baltic stock markets. Our results provide a valuable contribution to understanding the impact of that phenomenon on pricing dynamics, which is particularly pertinent in less-researched frontier markets like the Baltic states.

Details

Baltic Journal of Management, vol. 19 no. 6
Type: Research Article
ISSN: 1746-5265

Keywords

Open Access
Article
Publication date: 23 February 2024

Elin K. Funck, Kirsi-Mari Kallio and Tomi J. Kallio

This paper aims to investigate the process by which performative technologies (PTs), in this case accreditation work in a business school, take form and how humans engage in…

Abstract

Purpose

This paper aims to investigate the process by which performative technologies (PTs), in this case accreditation work in a business school, take form and how humans engage in making up such practices. It studies how academics come to accept and even identify with the quantitative representations of themselves in a translation process.

Design/methodology/approach

The research involved a longitudinal, self-ethnographic case study that followed the accreditation process of one Nordic business school from 2015 to 2021.

Findings

The findings show how the PT pushed for different engagements in various phases of the translation process. Early in the translation process, the PT promoted engagement because of self-realization and the ability for academics to proactively influence the prospective competitive milieu. However, as academic qualities became fabricated into numbers, the PT was able to request compliance, but also to induce self-reflection and self-discipline by forcing academics to compare themselves to set qualities and measures.

Originality/value

The paper advances the field by linking five phases of the translation process, problematization, fabrication, materialization, commensuration and stabilization, to a discussion of why academics come to accept and identify with the quantitative representations of themselves. The results highlight that the materialization phase appears to be the critical point at which calculative practices become persuasive and start influencing academics’ thoughts and actions.

Details

Journal of Accounting & Organizational Change, vol. 20 no. 6
Type: Research Article
ISSN: 1832-5912

Keywords

Article
Publication date: 17 September 2024

Emmanuel Joel Aikins Abakah, Nader Trabelsi, Aviral Kumar Tiwari and Samia Nasreen

This study aims to provide empirical evidence on the return and volatility spillover structures between Bitcoin, Fintech stocks and Asian-Pacific equity markets over time and…

Abstract

Purpose

This study aims to provide empirical evidence on the return and volatility spillover structures between Bitcoin, Fintech stocks and Asian-Pacific equity markets over time and during different market conditions, and their implications for portfolio management.

Design/methodology/approach

We use Time-varying parameter vector autoregressive and quantile frequency connectedness approach models for the connectedness framework, in conjunction with Diebold and Yilmaz’s connectivity approach. Additionally, we use the minimum connectedness portfolio model to highlight implications for portfolio management.

Findings

Regarding the uncertainty of the whole system, we show a small contribution from Bitcoin and Fintech, with a higher contribution from the four Asian Tigers (Taiwan, Singapore, Hong Kong and Thailand). The quantile and frequency analyses also demonstrate that the link among assets is symmetric, with short-term spillovers having the largest influence. Finally, Bitcoins and Fintech stocks are excellent diversification and hedging instruments for Asian equity investors.

Practical implications

There is an instantaneous, symmetric and dynamic return and volatility spillover between Asian stock markets, Fintech and Bitcoin. This conclusion should be considered by investors and portfolio managers when creating risk diversification strategies, as well as by policymakers when implementing their financial stability policies.

Originality/value

The study’s major contribution is to analyze the volatility spillover between Bitcoin, Fintech and Asian stock markets, which is dynamic, symmetric and immediate.

Details

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

Keywords

Book part
Publication date: 4 October 2024

Debidutta Pattnaik

This chapter uses data from the Scopus database to present a comprehensive bibliometric analysis of fintech research, focusing on publication trends, citation patterns, and…

Abstract

This chapter uses data from the Scopus database to present a comprehensive bibliometric analysis of fintech research, focusing on publication trends, citation patterns, and thematic clusters within the field. The analysis reveals notable trends, including influential publications, prolific authors, and their affiliations. It identifies and explores publications categorized into 23 distinct themes, representing key areas of inquiry in fintech, such as technological advancements, financial inclusion, innovation, data analytics, sustainability, and regulatory compliance. The study also identifies research gaps, indicating areas within fintech that have received limited scholarly attention. These findings provide valuable insights for researchers, policymakers, and industry practitioners. Researchers can better understand the fintech landscape, identify research gaps, and guide future inquiries. Policymakers can develop effective regulations and policies based on identified trends and challenges. Industry practitioners can leverage fintech developments to enhance their strategies and operations.

Details

The Emerald Handbook of Fintech
Type: Book
ISBN: 978-1-83753-609-2

Keywords

Article
Publication date: 24 September 2024

Rebwar Kamal Gharib

The purpose of this study is to enhance the understanding of the drivers of participation in online business forums (OBFs). Specifically, it examines how reciprocity and three…

Abstract

Purpose

The purpose of this study is to enhance the understanding of the drivers of participation in online business forums (OBFs). Specifically, it examines how reciprocity and three distinct types of needs (functional, psychological and hedonic) shape the participation behaviour of members in OBFs.

Design/methodology/approach

This study employs a multilevel analysis, integrating Social Exchange Theory and Uses and Gratification Theory to develop and validate a research framework. Data were collected via online questionnaires (N = 596) from 48 business forums on LinkedIn. The data analysis was carried out using PLS-SEM in stages. A confirmatory factor analysis was carried out to assess the measurement model, including validating the reliability and validity of the measurement items. The direct hypotheses were tested, followed by a post ad-hoc analysis to test the mediation and moderation hypotheses.

Findings

This study shows the impact of three need factors – functional, psychological and hedonic – and reciprocity on community members' participation behaviour in OBFs. The findings indicate that fulfiling functional, psychological and hedonic needs are key determinants driving active participation. The study further highlights the coexistence of two types of reciprocity: direct and indirect. However, the data analysis results show that only indirect reciprocity motivates participation in OBFs. Furthermore, the study reveals that indirect reciprocity not only precedes participation but also acts as a pivotal factor interacting with the interrelationship between the need factors and participation levels in OBFs.

Originality/value

This research advances theoretical understanding of participation in OBFs by offering novel insights into its complex, multi-faceted nature. Unlike some previous simplistic models, this study employs innovative multilevel analysis, uniquely demonstrating the synergistic impact of need factors and reciprocity on participation. It offers a nuanced perspective previously unexplored by addressing reciprocity’s paradoxical role and uncovering interconnections between various factors. This approach provides groundbreaking insights into OBF dynamics, advancing theoretical understanding while offering actionable strategies for enhancing member engagement and community development.

Details

Information Technology & People, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0959-3845

Keywords

Article
Publication date: 20 September 2024

Abdullah M. Al-Awadhi, Ahmad Bash, Barrak AlGharabali, Mohammad Al-Hashel and Fouad Jamaani

This study aims to investigate the effect of seasonality caused by fasting as a religious practice on trading activity.

Abstract

Purpose

This study aims to investigate the effect of seasonality caused by fasting as a religious practice on trading activity.

Design/methodology/approach

The authors use an unbiased sample of daily trading by individuals and institutions on the Boursa Kuwait. The authors use panel data on trading activities and Tobit regression models to examine the effect of Muslims’ religious practice of fasting during the holy month of Ramadan on trading behavior.

Findings

The authors find that during the holy month of Ramadan, Muslims’ religious practice of fasting leads to a decline in the frequency of both overall stock market trading and the ratio of individual trading volume to total trading volume. The authors find a significant decrease in individual buy-side trading as a proportion of total trading volume and simultaneously a significant increase in institutional buy-side trading.

Practical implications

This study’s findings have important implications for the main players in stock markets of countries with a Muslim majority. Market-makers should be aware of the significant increase in the proportion of institutional buy-side trading volume to total trading volume to minimize the cost of trading with better-informed traders (adverse selection).

Originality/value

To the best of the authors’ knowledge, this is the first study that investigates individuals’ trading activity during Ramadan.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 18 September 2024

Kofi Agyekum, Samuel Fiifi Hammond, Alex Opoku Acheampong and Rhoda Gasue

This study draws on neoclassical and behavioural economics theories to provide an empirical insight into the effect of knowledge, costs, and social norms on damp-proofing…

Abstract

Purpose

This study draws on neoclassical and behavioural economics theories to provide an empirical insight into the effect of knowledge, costs, and social norms on damp-proofing residential buildings in Ghana.

Design/methodology/approach

This study used the quantitative approach involving survey data. A sample size of 242 participants was involved in the study. Applying principal component analysis on the responses from the participants, an index for damp-proofing, cost, knowledge, and social norms was derived. After generating the indexes, the ordinary least squares (OLS) regression was applied to estimate the impact of knowledge, costs, and social norms on damp-proofing.

Findings

The results from the OLS regression revealed that knowledge has a significant positive effect on damp-proofing while costs and social norms have significant negative effect on damp-proofing in Ghana. This study, therefore, concludes that although neoclassical economic factors such as knowledge and cost affect behaviour (damp-proofing), behavioural factors such as social norms also matter.

Practical implications

The outcome of this study calls for policymakers to consider putting in place measures that increase knowledge and promote the use of damp-proofing techniques during the construction of buildings. In addition, the study calls for scholars to partake in collaborative research amongst disciplines such as economics, psychology, and the construction industry in order to provide more innovative solutions, the key of which is finding innovative ways to damp proof buildings.

Originality/value

This study is original in its context as it draws on neoclassical and behavioural economics theories to provide an empirical insight into the effect of knowledge, costs, and social norms on damp-proofing of residential buildings in Ghana. This is an area that has received less attention in the areas of building biology and building pathology globally.

Details

International Journal of Building Pathology and Adaptation, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2398-4708

Keywords

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