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Article
Publication date: 10 June 2020

Denni Arli, Patrick van Esch, Marat Bakpayev and Andrea Laurence

In this study, we focus on consumer perceptions of cryptocurrencies. We hypothesize that knowledge of cryptocurrencies, trust in government, and the speed of transactions…

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Abstract

Purpose

In this study, we focus on consumer perceptions of cryptocurrencies. We hypothesize that knowledge of cryptocurrencies, trust in government, and the speed of transactions are the main factors contributing to consumers' trust in cryptocurrencies.

Design/methodology/approach

451 MTurk workers, a convenient sample incentivized with a small monetary payment, participated in a cross-sectional online study with cryptocurrencies serving as the focal product category.

Findings

We obtained support for our hypothesized notion that knowledge of cryptocurrencies, trust in government, and the speed of transactions are the main factors contributing to consumers' trust in cryptocurrencies. Our research makes several important theoretical contributions. First, we demonstrate that consumers who understand and know how cryptocurrencies work are more likely to trust and invest in the currency. Next, we demonstrate that consumers are more likely to trust cryptocurrencies and their peer-to-peer transactions if, preferably, they take place via a central issuer and are regulated by their respective governments.

Originality/value

This study is the first known paper to focus on cryptocurrencies from the consumers' perspective. Next, we identify key antecedents of trust towards cryptocurrencies. Second, we reveal the role of government concerning cryptocurrencies. Finally, FinTech firms and banks (should they choose to enter the cryptocurrency market) need not spend time and money on marketing, advertising, and promotions in order to try to allay consumers' anxiety when it comes to their uptake in the different digital currencies. Rather, this would allow the FinTech firms and banks to allocate resources to focus their attention on marketing, advertising and promoting the factors (i.e. knowledge, trust in government, and speed of transaction) that drive intent to invest in cryptocurrencies.

Details

Marketing Intelligence & Planning, vol. 39 no. 1
Type: Research Article
ISSN: 0263-4503

Keywords

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Article
Publication date: 20 November 2020

Denni Arli, Fandy Tjiptono, Aaron Tkaczynski and Marat Bakpayev

The concept of grit has been receiving increased attention in recent years. Grit is a trait that enables individuals to persevere while facing challenges and obstacles in…

Abstract

Purpose

The concept of grit has been receiving increased attention in recent years. Grit is a trait that enables individuals to persevere while facing challenges and obstacles in life, sometimes “winning at any cost”. The purpose of the study is to understand how ethical views may vary among different groups of people segmented on grittiness. Our key argument is that grittier segment is more inclined towards Machiavellian factors (amorality, desire for control, desire for status, distrust of others) and materialism.

Design/methodology/approach

Data derived from self-administered questionnaires completed by convenience samples of Indonesians living in Daerah Istimewa Yogyakarta (DIY), a region commonly considered as the miniature of Indonesia. Turning to market segmentation tools (n = 467), we first segment people based on their level of grittiness and, subsequently, investigate each segment's perception towards various Machiavellian factors (amorality, desire for control, distrust of others) and materialistic attitudes.

Findings

The study identified three segments of grittiness: The Least Gritty (the Good), The More Gritty (the Bad) and The Most Gritty (the Ugly). The results of this study showed the dark side of grit. Individuals with higher grit traits are more likely to behave unethically which could be referred to as “bad” and “ugly”. To help them succeed, cheating and lying are more likely considered acceptable by gritty individuals compared to less gritty “good” individuals.

Practical implications

Merely focussing on grit–be it grit promotion or training–may produce individuals who achieve success at all costs and disregard ethical values. An implication from the study is not to discourage developing grit in individuals but instead to add and emphasise ethical components. This implication is especially critical for educators and managers developing grit as a part of their activities.

Originality/value

The results of this study will have important theoretical implications and managerial implications educators balancing the consequences of teaching grit, but also for managers interested in understanding employees' level of grit within their workplaces along with ethical considerations.

Details

Asia Pacific Journal of Marketing and Logistics, vol. 33 no. 5
Type: Research Article
ISSN: 1355-5855

Keywords

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