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This study introduces a new type of platform recommendation about mutual funds and draws on the signaling theory to conduct a quasi-experimental design to investigate how the platform recommendation influences investors’ investment decisions. Moreover, the authors examine the combined effect of star ratings and the platform recommendation on fund flow and test the investment value of recommended funds.

This study implements a quasi-experimental design based on 1,295 mutual funds traded on Alipay’s online platform to test the hypotheses.

The empirical results show that the recommended funds received higher fund flows from investors when the platform recommendation was established. Moreover, a substitution effect between tag recommendation and star ratings on fund flow was identified. We also uncovered that investing in platform-recommended funds can yield significant and higher fund returns for investors than those without platform recommendations.

Our findings shed new insights into the role of platform recommendations in helping fund investors make investment decisions and contribute to the business of online mutual fund transactions by investigating the effect of platform recommendations on fund flow and performance.

This study aims to test mutual fund superiority, comparing the performance of 646 Islamic mutual funds with 475 ethical funds and conventional proxies.

This study uses statistical methods including paired t-statistics of independent samples, one-way Bonferroni test–analysis of variance–F-statistic for testing means equality, the chi-squared test for median equality and regression models corrected for heteroscedasticity. These methods are used to identify superiority of mutual funds and to validate the significance of the results.

The findings confirm the superiority of conventional funds over ethical funds and ethical funds over Islamic funds. Both ethical and Islamic funds, however, outperform conventional proxies during some recessionary periods. Moreover, stronger performance is recorded for Islamic funds in Europe and North America regions and across age and asset allocation categories, but limited support for reversal fund size, composition focus and reversed price effect.

These findings should assist investors when deciding to invest and motivate Islamic and ethical funds to improve their portfolio formation and asset allocation strategies set by their professional managers.

The originality of this study is in its comprehensive approach in that it compares the performance of funds after accounting for such characteristics as fund objectives, size, age, asset allocation, geographical investment focus, fund composition focus, share price levels and the effect of global crises. This study approach is not only original and productive in documenting Islamic funds’ performance for the past three decades (1990–2022) but can also update the literature on these characteristics collectively and individually.

The purpose of this paper is to examine the effect of mobile customer relationship management (mCRM), service innovation (SI) and word of mouth (WOM) on the investment decisions (IDs) of mutual fund investors.

This paper presents a new model for impacting the IDs of mutual fund investors. To verify the suggested model, Partial Least Squares with Structural Equation Modelling are used. For analysis, a survey questionnaire is designed, and data inputs were invited from more than 400 online mutual fund investors in Delhi NCR.

The outcomes reveal that the ID of mutual fund investors is significantly influenced by WOM. WOM, in turn, is significantly impacted by mCRM applications through SI playing a mediating role.

The limitation with reference to survey respondents was that only online mutual fund investors using mCRM applications were considered. Moreover, this study was conducted in Delhi NRC, and a limited sample was considered.

The result from this research helps the financial organisation to consider SI in their mCRM application as one of the main concerned areas for increased WOM that directly influences the ID of mutual fund investors.

This study highlighted the impact of SI and WOM on the mutual fund investors’ decision, who use mCRM application. The outcome may contribute to the theoretical framework of IDs concerning mCRM applications. The results of this research offer practical implications for financial organisations in strategising their marketing and product development plans in the context of mutual funds. Also, the mutual fund ID through mCRM application is positively influenced by SI and WOM using both constructs as sequential mediating tools. This research offers new insights into mCRM application for mutual fund investors and financial organisations in India.

Usage of updated technology is continuously empowering customer relationship management (CRM) to be convenient and user friendly, where customers are kept engaged with knowledge and information. This enables them on decision-making and managing their portfolio, especially in mutual fund investments. To improve toward a positive decision, certain quality related variables needed to be considered. Thus, this study aims to estimate the mediation effect of relationship quality and outcome (RQO) between CRM and investment decision-making in mutual funds (MFD).

The descriptive study adopted the constructs from existing empirical literatures to conceptualize the model with three higher order constructs with 12 dimensions. Survey method is used, and with a structured questionnaire, a total of 323 mutual fund investors were approached using nonprobability criterion sampling technique, of which 262 relevant responses were considered for estimating the structural model. Smart PLS was used to establish the relationship of the constructs.

The result emphasizes a significant direct and indirect relationship indicating that investors are more inclined to MFD through technology-enabled CRM and RQO plays a vital role in explaining the direct relationship between CRM and MFD. The results of the study are in-line with the existing literature.

The study highlights that financial institutions must focus not only on technological diffusion but also needs to ensure quality service by providing knowledge and information during every access of transactions by customers, making them independent and confident during investments.

This study indicates how capacity efficiency, which is a part of service productivity, can be managed without affecting the outcome efficiency by incorporating technology in the place of human interaction during relationship acquiring and retaining process.

The purpose of the study is to investigate, synthesize and critically evaluate empirical research findings on the behavioral traits of fund managers from 1994 to 2024. The ultimate goal is to provide a unified body of literature on three broad topics: first, fund managers' demographic and professional characteristics, such as age, gender, level of education and years of industry experience; second, fund managers' social and political connections; and third, fund managers' behavioral biases that lead to irrational investment decisions.

The relevant papers from selected journals were discovered and manually validated using the Scopus database. From 317 retrieved documents, 57 relevant articles were chosen and analyzed after the forward and backward search of the existing articles.

This paper presents a categorized summary of behavioral factors that have gained a foothold in influencing the behavior of fund managers in fund management research, with several studies demonstrating their significance leading to improved prediction and model precision, as this review indicates. In addition, the study summarized the contributions of prior empirical studies within the aforementioned three major categories and illustrated their consequences.

The present study contributes to the understanding of the effects of behavioral finance theories on fund managers by providing meaningful explanations of their behavioral traits based on empirical evidence and existing trends and knowledge gaps, both of which can influence the future direction of research.

This paper aims to provide a novel explorative perspective on fund managers’ decisions under uncertainty. The current COVID pandemic is used as a unique reference frame to study how heuristics are used in institutional financial practice.

This study follows a grounded theory approach. A total of 282 diverse publications between October 2019 and October 2020 for 20 German mutual funds are qualitatively analyzed. A theory of adaptive heuristics for fund managers is developed.

Fund managers adapt their heuristics during a crisis and this adaptive process flows through three stages. Increasing complexity in the environment leads to the adaption of simplest heuristics around investment decisions. Three distinct stages of adaption: precrisis, uncertainty and stabilization emerge from the data.

This study’s data is based on publicly available information. There might be a discrepancy between publicly stated and internal reasoning.

Money managers can use the provided framework to assess their decision-making in crises. The developed adaptive processes of heuristics can assist capital allocators who choose and rate fund managers. Policymakers and regulators can learn about the aspects of investor decisions that their actions and communication address. Teaching can use this study to exemplify the nature of financial markets as adaptive systems rather than static structures.

To the best of the author’s/authors’ knowledge, this study is the first to systematically explore the heuristics of professional money managers because they navigate a large-scale exogenous crisis.

Inspired by the groundbreaking novel European regulations on financial investors’ profiling (MiFID II regulation and the ESMA 2022 Guidelines), this paper aims to establish which distinctive socio-demographic traits distinguish investors who declare a generalized interest in all three environmental (E), social (S), and governance (G) pillars and investors who express interest in just one individual pillar or a combination of two pillars.

Based on a unique dataset of 190 real-world retail investors, this paper aims to create a profile of three types of investor: those whose interest lies in just the environmental pillar, those interested in a combination of the environmental and social pillars, and those interested in all three E, S, and G pillars jointly. Moreover, we try to ascertain whether it is possible to observe statistically significant differences between the different types of investors.

The results obtained indicate that it is possible to profile investors who are environmentally-oriented and investors who are ESG-oriented. Notably, levels of financial literacy do not influence investor ESG attitudes.

The results obtained may have multifaceted implications for financial advisors, the banking and financial institution industry, and marketing strategists, as well as for further research.

The originality of this paper derives from the responses used in the analysis, which were collected from a sample of real-world retail investors who completed a mandatory MiFID-questionnaire, validated by the Italian Securities and Markets Supervisory Authority. Our paper thus represents a bridge between a theoretical approach and real-world practice.

This paper aims to conduct a systematic literature review of Socially Conscious Investment (SCI) articles published in premier journals. Its objective is to shed light on the publication trend, leading authors, journals, countries and themes in contemporary SCI research. The article also provides a conceptual model of SCI to enhance understanding of the knowledge structure and the future research direction.

A systematic review followed the PRISMA guidelines and encompasses 264 full-text articles indexed in A* and A category journals listed in ABDC is reviewed. The literature synthesis adopts the theories, contexts, characteristics and methodology (TCCM) framework.

The article has identified the research trends related to author impact, journal impact, article impact and the outcomes derived from the TCCM framework. Additionally, it highlights three key themes: Performance of SCI, Behavioural issues and SCI development literature.

The insight on various aspects of SCI was explored for a comprehensive understanding. The authors also developed a conceptual model for socially conscious investment.

It is imperative for policymakers, financial institutions, and individual investors to comprehend the factors that impact stock market participation, given the growing significance of the stock market in terms of personal and national wealth. This study endeavours to explore the relationship between cognitive ability and participation in the stock market. We examine the relationship between cognitive abilities and stock market participation, and further explore the mechanism of their influence.

The data from the China Family Panel Studies is utilized, and Tobit and Probit regressions are employed. Additionally, an instrumental variable approach (IV-estimate) is implemented to address the endogeneity issue linked to cognitive ability, and the study’s findings are resilient.

The results reveal a significant positive relationship between cognitive ability and stock market participation. Additionally, the findings suggest that households with higher cognitive ability tend to aggregate more information, expand social networks, and take more risks. A likely explanation is that individuals with higher cognitive ability are more likely to process more external information and evaluate the subjective uncertainty of stock markets based on a well-defined probability distribution. Our findings indicate that the impact of cognitive ability on stock market participation varies among families with differing education levels, genders, marital statuses, and geographical locations.

Therefore, the roles of cognitive abilities in accelerating stock market participation should be fully considered. More information channels and sources that contain financial markets’ information (e.g. mobile applications and financial education) should be provided. Thus, the significance of cognitive ability in increasing stock market participation should be fully considered. Providing more information channels and sources, such as mobile applications and financial education, that contain financial markets’ information would be helpful. Our study contributes to promoting financial literacy and inclusion by highlighting the significant positive impact of cognitive ability, where institutions can tailor their outreach efforts and information channels to better serve individuals with different cognitive ability.

The purpose of this study is to empirically examine the impact of ownership structure variables on the level of sustainability reporting (SR) of listed BRICS energy firms as well as the moderating role of the board sustainability committee on this relationship.

This study used a sample of 1,260 firm-year observations from BRICS for the period 2010–2019. This study uses the Bloomberg database, companies’ annual reports and companies’ websites for data collection and the ordinary least squares (OLS) and instrutemental variables (IV) two-stage least squares (2SLS) regressions for data analysis.

This study provides empirical evidence that foreign ownership, managerial ownership and blockholder ownership have a positive and statistically significant impact on the level of SR. However, the results indicate institutional ownership impacts SR negatively. The findings remain qualitatively the same after addressing endogeneity concerns using the IV 2SLS regression method.

This paper has some limitations. This study focuses on listed companies in BRICS. Therefore, future studies should look at non-listed small and medium enterprises. Similarly, because this study focuses on emerging economies, future studies should consider comparative studies between developed and developing economies.

This study makes significant empirical, theoretical and regulatory contributions to policymakers, investors and management on the ownership type that positively influence the level of SR.

This study contributes to the corporate governance and sustainability literature and extends existing empirical literature on the role of ownership structure on the level of SR in the context of emerging economies. This study provides important theoretical and empirical evidence for regulators and policymakers.