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The purpose of this paper is to explore the role of banks in enhancing consumer knowledge aiming to increasing customer’s financial well-being.

This research applied two quantitative studies with customers of banks in a Latin American country. The literature review and the results of the data analysis founded the development of a model that relates bank information transparency and subjective financial well-being through consumer financial knowledge.

By being transparent banks may transform the financial well-being of their customers. Particularly, this paper shows that consumer financial knowledge mediates the relationship between bank information transparency and the subjective financial well-being of individuals. However, the mediational effect occurs by subjective but not objective financial knowledge.

The mediational model of this research does not take in consideration the role that individual factors play in the exposition and processing of the information provided by banks and its final impact on the subjective well-being of individuals. Also, this paper does not explore potential moderators of the theoretical relationships neither include cultural variables in the analysis.

Firm transparency has been related to various constructs in the marketing literature; however, its impact on consumer financial well-being is under-researched. This paper shows that companies need to aim to increase the subjective financial knowledge of their customers as a way to improve ultimate well-being of their customers.

This paper analyses the moderation effect of country culture in the reciprocal relationship between the strategic orientations (Organizational entrepreneurship, organizational innovation and Organizational learning) and the export performance of the firms in two countries with different cultural characteristics (Sociability and Performance). In the same way, it is intended to evaluate if there is a reciprocal relationship between strategic orientations and export performance.

In order to achieve the objectives of the research, a structural equations model is made. One of the benefits of this model is that it allows not only to analyze of the causal relationships of the study variables but also to identify of the behavior presented by the firms in their export performance activities. The database contains 400 SMEs from Colombia and Vietnam, with an export performance developed during 2022.

It was possible to verify a reciprocal relationship between the strategic orientations of organizational entrepreneurship and organizational innovation. However, the relationship between organizational learning and export performance must be validated. Similarly, it was found that countries with a cultural focus on performance will have better export performance than those with a focus on sociability.

The main limitation of this study is the focus on only two countries with diverse cultural characteristics. Future research will aim to verify these relationships with a more significant number of countries and over a more extended time range.

According to the results, assessing the firms' strategies to prioritize product innovation is necessary. This axis is fundamental because it is the means to create value for products and develop the capacities and resources necessary to compete in the international arena.

Among the most critical implications of a country are the social ones. Thus, to the extent that the results in innovation are more evident in the management area, this will help improve the production platform and general conditions at the country level.

The most significant value of this research is in studying the moderation effects of cultural approaches at the country level in the bidirectional relationships studied in this work.

This study aims to examine how corruption influences the voluntary disclosure of corporate governance (CG)-related information by developed country multinationals (DC-MNEs) and emerging market multinationals (EM-MNEs) investing in six Latin American countries.

The study uses information from 300 MNEs included in the 2018 ranking of the 500 Largest Latin American companies (America Economía, 2018). Each MNE’s final annual report for the financial year ending 2018 was examined and coded to obtain the corporate governance disclosure index. Fractional probit regression was applied to test the hypotheses of the research.

DC-MNEs disclose more CG-related information in corrupt environments than EM-MNEs. This differentiated behavior occurs because DC-MNEs face higher legitimacy pressures in corrupt environments than EM-MNEs and because EM-MNEs are more experienced than DC-MNEs in dealing with such corrupt environments.

While both EM-MNEs and DC-MNEs need to continue investing in corrupt countries to grow, they need to disclose CG-related information as a strategic tool to manage the legitimacy issues triggered by corruption in the markets they operate.

Despite corruption being pervasive in emerging markets, its implications for firms’ strategic behaviors are still under-researched. This paper extends the scope of corporate governance and international business fields by studying how MNEs respond to relevant dimensions of the macro environment. This research shows that voluntary disclosure of CG-related information is a strategic response of the MNEs to gain legitimacy in corrupt environments.

The authors seek (1) to identify the profiles of subjective financial well-being (SFWB) of bank customers before and during the coronavirus disease 2019 (COVID-19) pandemic, (2) to analyze the transition to profiles of lower SFWB during the pandemic and (3) to identify the factors driving such transitions.

The authors surveyed five countries during 2019 and 2020 to measure SFWB. The authors applied latent class analysis (LCA) to identify profiles of bank customers according to a mix of SFWB indicators in pre-pandemic times (Study 1). The authors validated the profiles during the pandemic and identified the SFWB dimensions that deteriorated during the crisis (Study 2). Finally, the authors applied latent transition analysis (LTA) to explore transitions to profiles of lower SFWB and identify the drivers.

The authors identified three profiles of customers in pre- and post-pandemic periods for four dimensions of SFWB: control over finances, capacity to absorb financial shocks, ability to track financial goals and financial freedom. Gender, age, trust in banks and bank-supporting policies were related to transitions across profiles of SFWB during the pandemic. These relationships are contingent upon contextual country-related variables.

Banks and policymakers should reduce customers' exposure to the pandemic's long-lasting adverse effects on SFWB and should identify and control the multiplier role that contextual variables play.

Extant literature has not fully identified the dimensions of SFWB that changed due to the COVID-19 pandemic. The authors narrow this gap by identifying three SFWB profiles of customers, analyzing the patterns of SFWB change and connecting these changes to individual, provider and contextual factors.

How does emerging market multinational enterprises’ (EM MNEs) resource vulnerability to domestic institutional weakness influence the escapist outward foreign direct investment (OFDI)? This study aims to focus on how varying qualities of technological resources make EM MNEs vulnerable to institutional weakness at home and when such a vulnerability triggers escapist OFDI.

A mix of primary and secondary data is used to study evidence of escapist OFDI in the case of multilatinas. Structural equation modelling and hierarchical regressions were applied to test the hypotheses.

Domestic institutional weakness triggers escapist OFDI only when EM MNEs’ resources are vulnerable to institutional pressures. Technological leadership increases the vulnerability of EM MNEs to the pressure of institutional weaknesses at home, which, in turn, motivates escapist OFDI.

In discussing the role of firm resources and their vulnerability to institutional weakness, a mechanism is proposed to shed light on how EM MNEs transform the general country framework of the institutional environment into the specific decision to escape via OFDI.

This study aims to identify the groups of value cocreators in the context of social media in the retail banking industry and resources that predict customer membership among different groups of value cocreators.

This study reviewed the literature and developed measurement instruments for the constructs of interest. Data were collected from 406 customers in an emerging market in 2019 and analyzed using latent profile analysis.

This study identified three profiles of value cocreators on social media based on the actual practices of resource integration that enliven value cocreation. Second, this study explains the differences in the performance of resource integration practices to cocreate by the types of resources that customers integrate into social media. Third, this study fills the need for knowledge of value cocreation in different contexts and industries (e.g. banks).

This study analytically relates a set of resources to the variety and intensity of the value cocreation practices adopted by bank customers in interactive environments. The emphasis on how value cocreation practices in online environments combined with customer resources (e.g., a person-centered approach) allows to identify unique profiles of value cocreators on social media. The findings inform managers of the profiles of cocreators, which customers are more attractive as value cocreators on social media, and which resources managers should help customers develop to increase cocreation on social media.

The purpose of this paper is to illustrate that mall shoppers who participate in a mall’s experiential offerings, including entertainment and activities, do not necessarily exhibit more favorable attitudes or behaviors toward the mall than mall shoppers who do not participate in these offerings.

This study employs survey methodology from a sample collected in an expansive regional mall that offers customers experiential activities.

The findings show that mall shoppers who partake in mall-based activities are less satisfied, are less likely to spread positive word of mouth, and have lesser desire to return to the mall than shoppers who do not partake in these activities. The findings also reveal that mall expenditures are the same between shoppers who partake in mall activities and those who do not.

Researchers have argued that malls can compete with digital retailers by offering shoppers experiential activities. Although segments of shoppers partake in these activities, this study finds that experiential investments do not result in significant favorable shopper outcomes.

Mall developers that implement experiential offerings as a means to combat competition from digital retailers may not attain managerially relevant results from doing so.

Although retailing academics and consultants espouse the idea that retailers can obtain financial benefits by creating memorable experiences for shoppers, this research offers empirical evidence that counters these speculations. In the case of enclosed malls, investments in experiential features and activities may not lead to improved shopper attitudes, behaviors, or sales.

Grounded in Transformative Service Research, the purpose of this paper is to explore the mechanisms by which bank information transparency influences consumer’s financial well-being (FWB). The authors propose that customer attitudes toward the brand and the subjectively perceived ability of individuals to deal with the financial challenges explain the enhancement of FWB driven by bank information transparency.

A survey was conducted to test the proposed hypotheses. In total, 400 bank customers of five commercial banks in Colombia were approached and asked to fill out a pen and paper questionnaire. Serial mediation analysis was applied to test the hypotheses.

This research shows that bank information transparency can uplift the FWB of customers. Furthermore, the positive effect of bank information transparency on the FWB occurs because the shared information improves the positive attitudes toward banks and the perceived financial self-efficacy of customers.

This paper heeds the call of current literature for improved explanations of the relationship between attempts to inform consumers about financial services and their FWB.

This research shows that managers who embrace the challenging task of improving the FWB of their customers should design strategies for more transparent information sharing with their customers. However, these strategies should be designed not only to deliver information to customers but also to increase the perceived disclosure, accuracy and clarity of shared information.

This pioneering study aims to explain the effects of bank information transparency on the FWB of consumers by drawing on interdisciplinary literature. This research is important as many banks aim to increase their information transparency without a clear understanding of the effects of these actions on consumers and therefore in many instances their efforts fail. A key contribution of this study is identifying concrete mechanisms (i.e. brand attitudes and self-efficacy) that help managers to improve customers’ FWB via information transparency. Accordingly, the authors offer suggestions for better information transparency strategy implementation.

The purpose of this paper is to explore black market retailing, with a focus on Colombia’s San Andresitos.

The authors use grounded theory methodology to develop a theoretical framework that explains how consumers rationalize their acceptance, rejection, or tolerance of black market retailing. The authors obtained qualitative data based on reader responses to newspaper articles on San Andresitos and used the responses as qualitative data in comparative analysis to derive a “strategy family” theoretical framework.

The framework advances rationalization techniques that consumers employ to accept, reject, or tolerate the San Andresitos.

Colombians are divided on the legality of the San Andresitos. Although half the informants note the wrongfulness of the San Andresitos, the other half offer reasons to accept or tolerate them.

Legitimate (i.e. lawful) retailers operating in Colombia, or planning to enter, need to realize that local and national government officials support the San Andresitos. Colombia’s legitimate retailers must co-exist with the black market and dissuade consumers from patronizing unauthorized vendors or purchasing illicit goods.

Colombia’s acceptance of its black markets results in consumers inadvertently supporting crime, terrorism, and even bodily harm via the San Andresitos. However, the San Andresitos enable lower-income consumers to gain access to otherwise unattainable merchandise and provide employment through lower-skilled labor.

This paper is one of the first to explore black markets. From a transformative service research perspective, this research reveals how consumers, retailers, and government officials participate in Colombia’s black market, and how their activities serve to harm consumer well-being.

This study aims to introduce transformative place management – TPM – (defined as the deliberate efforts of place managers in commercial settings to provide a pool of restorative resources to improve the consumers’ emotional well-being) by merging the REPLACE framework and transformative service research. Additionally, this research analyzes the direct and indirect impacts of restorative resources as a form of TPM on consumers’ emotional well-being and place attachment, considering the moderating role of employee emotional labor.

A total of 240 customers were surveyed in an experience-based store in a developing country by using a questionnaire. Then, a moderated mediation model was applied to analyze the moderating role of employee emotional labor in the relationship between TPM and place attachment through consumers’ well-being.

TPM that provides restorative resources to consumers influences place attachment by improving consumer well-being. However, surface acting by employees reduces the ability of TPM to increase place attachment through the improvement of consumers’ emotional well-being. Deep acting, on the other hand, does not enhance the effect of TPM on place attachment through consumers’ emotional well-being.

This paper proposes new developments in the transformative service research (TSR) paradigm by introducing TPM. By showing how the place of consumption increases the well-being of customers, this paper helps TSR researchers to accomplish the purpose of transforming the lives of consumers through relevant research. Although marketing researchers and environmental psychologists have theoretically anticipated the positive effects on well-being from consumption settings, this paper explains how commercial places promote customer well-being through the provision of restorative resources. Also, this paper shows how the place of consumption transforms consumers’' lives and identifies some of the boundary conditions at which such a transformation occurs.