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This article aims to systematically review the literature published in recognized journals focused on cognitive heuristic-driven biases and their effect on investment management activities and market efficiency. It also includes some of the research work on the origins and foundations of behavioral finance, and how this has grown substantially to become an established and particular subject of study in its own right. The study also aims to provide future direction to the researchers working in this field.

For doing research synthesis, a systematic literature review (SLR) approach was applied considering research studies published within the time period, i.e. 1970–2021. This study attempted to accomplish a critical review of 176 studies out of 256 studies identified, which were published in reputable journals to synthesize the existing literature in the behavioral finance domain-related explicitly to cognitive heuristic-driven biases and their effect on investment management activities and market efficiency as well as on the origins and foundations of behavioral finance.

This review reveals that investors often use cognitive heuristics to reduce the risk of losses in uncertain situations, but that leads to errors in judgment; as a result, investors make irrational decisions, which may cause the market to overreact or underreact – in both situations, the market becomes inefficient. Overall, the literature demonstrates that there is currently no consensus on the usefulness of cognitive heuristics in the context of investment management activities and market efficiency. Therefore, a lack of consensus about this topic suggests that further studies may bring relevant contributions to the literature. Based on the gaps analysis, three major categories of gaps, namely theoretical and methodological gaps, and contextual gaps, are found, where research is needed.

The skillful understanding and knowledge of the cognitive heuristic-driven biases will help the investors, financial institutions and policymakers to overcome the adverse effect of these behavioral biases in the stock market. This article provides a detailed explanation of cognitive heuristic-driven biases and their influence on investment management activities and market efficiency, which could be very useful for finance practitioners, such as an investor who plays at the stock exchange, a portfolio manager, a financial strategist/advisor in an investment firm, a financial planner, an investment banker, a trader/broker at the stock exchange or a financial analyst. But most importantly, the term also includes all those persons who manage corporate entities and are responsible for making their financial management strategies.

Currently, no recent study exists, which reviews and evaluates the empirical research on cognitive heuristic-driven biases displayed by investors. The current study is original in discussing the role of cognitive heuristic-driven biases in investment management activities and market efficiency as well as the history and foundations of behavioral finance by means of research synthesis. This paper is useful to researchers, academicians, policymakers and those working in the area of behavioral finance in understanding the role that cognitive heuristic plays in investment management activities and market efficiency.

This study aims to use a qualitative approach to explore and clarify the mechanism by which heuristic-driven biases influence the decisions and performance of individual investors actively trading on the Pakistan Stock Exchange (PSX). It also aims to identify how to overcome the negative effect of heuristic-driven biases, so that finance practitioners can avoid the expensive errors which they cause.

This study adopts an interpretative approach. Qualitative data was collected in semistructured interviews, in which the target population was asked open-ended questions. The sample consists of five brokers and/or investment strategists/advisors who maintain investors’ accounts or provide investment advice to investors on the PSX, who were selected on a convenient basis. The researchers analyzed the interview data thematically.

The results confirm that investors often use heuristics, causing several heuristic-driven biases when trading on the stock market, specifically, reliance on recognition-based heuristics, namely, alphabetical ordering of firm names, name memorability and name fluency, as well as cognitive heuristics, such as herding behavior, disposition effect, anchoring and adjustment, repetitiveness, overconfidence and availability biases. These lead investors to make suboptimal decisions relating to their investment management activities. Due to these heuristic-driven biases, investors trade excessively in the stock market, and their investment performance is adversely affected.

This study provides a practical framework to explore and clarify the mechanism by which heuristic-driven biases influence investment management activities. To the best of authors’ knowledge, the current study is the first to focus on links between heuristic-driven biases, investment decisions and performance using a qualitative approach. Furthermore, with the help of a qualitative approach, the investigators also highlight some factors causing an increased use of heuristic variables by investors and discuss practical approaches to overcoming the negative effects of heuristics factors, so that finance practitioners can avoid repeating the expensive errors which they cause, which also differentiates this study from others.

Society is critically dependent on an adequate supply of hospital doctors to ensure optimal health care. Voluntary turnover amongst hospital doctors is, however, an increasing problem for hospitals. The aim of this study was to systematically review the extant academic literature to obtain a comprehensive understanding of the current knowledge base on hospital doctor turnover and retention. In addition to this, we synthesise the most common methodological approaches used before then offering an agenda to guide future research.

Adopting the PRISMA methodology, we conducted a systematic literature search of four databases, namely CINAHL, MEDLINE, PsycINFO and Web of Science.

We identified 51 papers that empirically examined hospital doctor turnover and retention. Most of these papers were quantitative, cross-sectional studies focussed on meso-level predictors of doctor turnover.

Selection criteria concentrated on doctors who worked in hospitals, which limited knowledge of one area of the healthcare environment. The review could disregard relevant articles, such as those that discuss the turnover and retention of doctors in other specialities, including general practitioners. Additionally, being limited to peer-reviewed published journals eliminates grey literature such as dissertations, reports and case studies, which may bring impactful results.

Globally, hospital doctor turnover is a prevalent issue that is influenced by a variety of factors. However, a lack of focus on doctors who remain in their job hinders a comprehensive understanding of the issue. Conducting “stay interviews” with doctors could provide valuable insight into what motivates them to remain and what could be done to enhance their work conditions. In addition, hospital management and recruiters should consider aspects of job embeddedness that occur outside of the workplace, such as facilitating connections outside of work. By resolving these concerns, hospitals can retain physicians more effectively and enhance their overall retention efforts.

Focussing on the reasons why employees remain with an organisation can have significant social repercussions. When organisations invest in gaining an understanding of what motivates their employees to stay in the job, they are better able to establish a positive work environment that likely to promote employee well-being and job satisfaction. This can result in enhanced job performance, increased productivity and higher employee retention rates, all of which are advantageous to the organisation and its employees.

The review concludes that there has been little consideration of the retention, as opposed to the turnover, of hospital doctors. We argue that more expansive methodological approaches would be useful, with more qualitative approaches likely to be particularly useful. We also call on future researchers to consider focussing further on why doctors remain in posts when so many are leaving.

This study aims to investigate the distinctive personality traits and characteristics of individuals with borderline intellectual functioning (BIF) and mild intellectual disability (MID) within specialized centers for MID-BIF treatment and care compared with individuals without MID-BIF diagnosis gathered from general mental health care (GMH) settings.

Patients classified with MID-BIF (n = 58), most with comorbid psychopathology, were thoroughly interviewed by trained clinicians who afterward completed the Shedler–Westen Assessment Procedure (SWAP-200) about the patient. The authors compared SWAP-200 profiles of MID-BIF patients with profiles of GMH individuals. In addition, the authors have compared these profiles for the MID and BIF groups (differentiated based on previously known intelligence quotient scores).

Results show significantly higher scores for the MID-BIF group than the GMH group on scales encompassing emotional instability, impulsivity and antagonism. On scales containing constraint and healthy traits, significantly lower scores were found for the MID-BIF group than for the GMH group. Importance of including SWAP-200 personality assessment for a more comprehensive understanding and treatment planning for individuals with MID-BIF is discussed.

This study offers insights into personality within individuals with an MID-BIF diagnosis, compared with individuals in a GMH setting.

Innovative pedagogical delivery (IPD) and behaviour have been a major concern among academics in Nigeria. The purpose of this study is aimed at analyzing the impact of psychological empowerment (PE) on IPD through achievement orientation (AO) and perceived inclusive leadership (PIL) among academics of tertiary institutions in Nigeria.

A questionnaire-based survey was conducted among the academics in Nigeria, and 350 responses were received. A multiple regression analysis was conducted using Smart-PLS version 3.

Findings are: (a) PE significantly impacts AO and IPD; (b) AO mediates the relationship between PE and IPD; and (c) PIL moderates the relationship between PE and AO.

It is recommended that practitioners and administrators in tertiary institutions pay attention to academics’ AO while integrating employee empowerment intervention for optimum results.

The findings emphasize AO in explaining the mechanism by which the relationship between PE and IPD holds sway. PIL explains the boundary conditions under which PE can effectively influence IPD.

This study explores the enablers of students “entrepreneurial intentions by identifying the factors that raise students” interest in embracing an entrepreneurial career.

Entrepreneurship education is increasingly attracting attention as a means of fostering entrepreneurial activity and creating a culture of innovation. Developing students' entrepreneurial intentions is critical to promote entrepreneurship. This research is built on a mixed method approach of partial least squares structural equation modelling and fuzzy-set qualitative comparative analysis.

The factors that influence students ‘entrepreneurial intentions are identified: business incubation programmes, non-reimbursable grants for entrepreneurial students, networking events to promote entrepreneurship, mentoring services, innovation labs for business idea validation and entrepreneurship courses. This knowledge can help develop effective entrepreneurship education programmes. The study also provides actionable insights for educational institutions and policymakers. It underscores the need for innovative educational platforms such as entrepreneurial bootcamps. It also highlights the value of advanced learning environments such as decision theatres to foster a culture of entrepreneurship and innovation.

The study contributes to the body of knowledge on entrepreneurship education. It highlights the need for a multidisciplinary approach to understand the factors that shape students’ entrepreneurial intentions.

The purpose of this study is to explore existing literature on Building Information Modelling (BIM) in Malaysia and examine the perception of practitioners about the potential of BIM applications in reducing construction waste and enhancing productivity.

First, using 244 bibliographic data extracted from the Scopus database, the paper used scientometric analysis and VOSviewer mapping technique to assess the most impactful publication literature on BIM in Malaysia to identify the existing research gaps. Second, using a structured questionnaire, a total of 100 questionnaires were distributed to practising practitioners who incorporate BIM in the delivery of their projects. Descriptive analysis using cross-tabulation in SPSS software, radar chart, relative importance index and Pearson’s correlation were used to analyze the data.

The research gaps are in the fields of construction projects, buildings, energy efficiency, lifecycle and housing. The findings of the survey indicate that quantity take-off, clash detection, site utilization planning, digital fabrication as well as 4D stimulation were the main BIM applications used among the practitioners in Johor and Selangor.

By assessing the state-of-the-art of BIM and BIM applications in this region, the practical implications of this study provide useful insights to construction stakeholders, funding organizations, policymakers, research institutions, professionals, journal editors, reviewers and researchers to understand the overall trend of BIM in Malaysia and its usage.

This paper is the first to use science mapping using scientometrics to reveal the current BIM research in “Malaysia only”. Relying on the identified gaps, the study further examined the usage of BIM applications in Malaysian construction projects.

This article presents the case for creating stronger connections between research on graduate and worker employability. We offer a narrative review of commonalities and differences between these research streams and offer thoughts and suggestions for further integration and mutual learning.

We outline some of the main theories and concepts in the graduate and worker employability domains. Furthermore, we analyze how these show considerable overlap, though they have barely connected with each other yet. We also formulate an agenda for future research that would spur stronger connections between the fields. Finally, we turn to our fellow authors, reviewers, and editors to encourage a more open approach to each other's work that would enable more cross-fertilization of knowledge.

We hope our narrative review, critical analysis and future research suggestions will lead to more collaborations and mutual learning among employability researchers in the educational, career and psychology areas.

The purpose of this study was to investigate the likely causes of failure of some sections of road pavements in Ajaokuta, Northcentral Nigeria. This was achieved through a geotechnical assessment of subgrade soils in affected areas.

The methods entailed field and laboratory methods and statistical analysis. Subgrade soil samples were retrieved from a depth of 1,000 mm beneath the failed portions using a hang auger. The soils were analyzed for natural moisture content (NMC), Atterberg limit (liquid limit, plastic limit and linear shrinkage), grain size distribution, compaction and California bearing ratio (CBR), respectively.

The results of the geotechnical tests ranged from NMC (12.5%–19.4%), sand (84%–98%), fines (2%–16%), LL (16.0%–32.2%), PL (17%–27.5%), LS (2.7%–6.4%), PI (2.5%–18.4%), maximum dry density (1756 kg/m2–1961 kg/m2), optimum moisture content (13.2%–20.2%), unsoaked CBR (15.5%–30.5%) and soaked CBR (8%–22%), respectively. Pearson’s correlation coefficient performed on the variables showed that some parameters exhibited a strong positive correlation with r2 > 0.5.

Funding was the main limitation.

Comparing the results with Nigerian standards for road construction, and the AASHTO classification scheme, the subgrade soils are competent and possess excellent to good properties. The soils also exhibited very low plasticity, a high percentage of sand, high CBR and low NMC, which implies that it has the strength required for road pavement subgrades. The likely causes of the failures are, therefore, due to the use of poor construction materials, technical incompetence and poor compaction of sub-base materials, respectively.

This study aims to investigate the implications of natural gas rents and institutions as co-drivers of economic growth, focusing on the Gas Exporting Countries Forum (GECF) with panel data between 2001 and 2021.

This research paper uses a specialised two stage estimator, the panel instrumental variable technique (panel IV), which takes care of the potential endogeneity issues in the model.

The findings show that natural gas rent significantly impacts the economic growth of the GECF. On average, natural gas rent increases the sample’s growth rate by about 2.634% percentage points in the short run. The result indicates that the qualities of institutions (political and economic) have a significant positive long-term effect on the economies of the GECF. In addition, the study’s energy price volatility positively correlates with the countries’ growth.

There might be a need to investigate the effects of natural gas rents and institutions as co-growth drivers in each country within the GECF. The likelihood exists that the impact of natural gas rents and institutions on economic growth at the country’s level may differ from the outcome of such an experiment on the group level. Because of space and time limitations, this study could not carry out the specific country’s investigation of natural gas rents and institutions as a co-growth driver. That limitation may constitute further study to advance this study to a new height.

With good institutions, natural gas rent is likely to be an alternative growth driver for some economies that rely on fossil fuels like oil as a growth driver. By extension, the GECF has the potential to rival Organisation of Petroleum Exporting Countries (OPEC) in the global energy market, particularly in achieving Sustainable Development Goal number seven. In essence, evidence in this study suggests that natural gas rent has long-term positive effects on the growth of the GECF, conditioned on good institutions. Moreover, the drive of global energy consumption towards sustainable energy usage is an economic blessing for the GECF. By extension, the demand for natural gas would continue to rise, creating opportunities to improve natural gas rents. By implication, the GECF would continue to benefit from the pursuit of sustainability as the world shifts towards energy consumption with less CO₂.

Firstly, this study models the qualities of institutions for the GECF. Secondly, to the best of the author’s knowledge, this study is the first attempt to examine natural gas rents and the qualities of institutions as co-determinants of economic growth among the GECF (a potential cartel).