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1 – 3 of 3The aim of this paper is to systematically review the literature published in recognized journals focused on recognition-based heuristics and their effect on investment management…
Abstract
Purpose
The aim of this paper is to systematically review the literature published in recognized journals focused on recognition-based heuristics and their effect on investment management activities and to ascertain some substantial gaps related to them.
Design/methodology/approach
For doing research synthesis, systematic literature review approach was applied considering research studies published within the time period, i.e. 1980–2020. This study attempted to accomplish a critical review of 59 studies out of 118 studies identified, which were published in reputable journals to synthesize the existing literature in the behavioural finance domain-related explicitly to recognition-based heuristics and their effect on investment management activities.
Findings
The survey and analysis suggest investors consistently rely on the recognition-based heuristic-driven biases when trading stocks, resulting in irrational decisions, and an investment strategy constructed by implementing the recognition-based heuristics, would not result in better returns to investors on a consistent basis. Institutional investors are less likely to be affected by these name-based behavioural biases in comparison to individual investors. However, under the context of ecological rationality, recognition-based heuristics work better and sometimes dominate the classical methods. The research scholars from the behavioural finance community have highlighted that recognition-based heuristics and their impact on investment management activities are high profile areas, needed to be explored further in the field of behavioural finance. The study of recognition-based heuristic-driven biases has been found to be insufficient in the context of emerging economies like Pakistan.
Practical implications
The skilful understanding and knowledge of the recognition-based heuristic-driven biases will help the investors, financial institutions and policy-makers to overcome the adverse effect of these behavioural biases in the stock market. This article provides a detailed explanation of recognition-based heuristic-driven biases and their influence on investment management activities which could be very useful for finance practitioners’ such as 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 its financial management strategies.
Originality/value
Currently, no recent study exists, which reviews and evaluates the empirical research on recognition-based heuristic-driven biases displayed by investors. The current study is original in discussing the role of recognition-based heuristic-driven biases in investment management activities by means of research synthesis. This paper is useful to researchers, academicians, and those working in the area of behavioural finance in understanding the role that recognition-based heuristics plays in investment management activities.
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Arka Ghosh, Jemal Abawajy and Morshed Chowdhury
This study aims to provide an excellent overview of current research trends in the construction sector in digital advancements. It provides a roadmap to policymakers for the…
Abstract
Purpose
This study aims to provide an excellent overview of current research trends in the construction sector in digital advancements. It provides a roadmap to policymakers for the effective utilisation of emergent digital technologies and a need for a managerial shift for its smooth adoption.
Design/methodology/approach
A total of 3,046 peer-reviewed journal review articles covering Internet of Things (IoT), blockchain, building information modelling (BIM) and digital technologies within the construction sector were reviewed using scientometric mapping and weighted mind-map analysis techniques.
Findings
Prominent research clusters identified were: practice-factor-strategy, system, sustainability, BIM and construction worker safety. Leading countries, authors, institutions and their collaborative networks were identified with the UK, the USA, China and Australia leading this field of research. A conceptual framework for an IoT-based concrete lifecycle quality control system is provided.
Originality/value
The study traces the origins of the initial application of Industry 4.0 concepts in the construction field and reviews available literature from 1983 to 2021. It raises awareness of the latest developments and potential landscape realignment of the construction industry through digital technologies conceptual framework for an IoT-based concrete lifecycle quality control system is provided.
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Maria Mouratidou, William E. Donald, Nimmi P. Mohandas and Yin Ma
Drawing on a framework of conservation of resources theory, the purpose of this paper is to explore the relationship between self-perceived academic performance and individual…
Abstract
Purpose
Drawing on a framework of conservation of resources theory, the purpose of this paper is to explore the relationship between self-perceived academic performance and individual entrepreneurial intention and consider the potential moderating role of (1) participation in serious leisure, (2) perceived stress and/or (3) gender.
Design/methodology/approach
A total of 405 UK-based undergraduates completed the questionnaire, with a representative gender split of 57% women and 43% men.
Findings
The positive relationship between self-perceived academic performance and individual entrepreneurial intention was moderated by serious leisure (stronger when participation in serious leisure increased) and by perceived stress (stronger when levels of perceived stress were lower). However, contrary to our expectations, gender had no statistically significant moderating role.
Practical implications
The practical contribution comes from informing policy for universities and national governments to increase individual entrepreneurial intention in undergraduates.
Originality/value
The theoretical contribution comes from advancing conservation of resources theory, specifically the interaction of personal resources, resource caravans and resource passageways.
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