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Article
Publication date: 27 September 2022

Carlos Francisco Alves

This paper aims to investigate the relationship between perceived and actual financial literacy, among generally literate people, pertaining to market participation and…

Abstract

Purpose

This paper aims to investigate the relationship between perceived and actual financial literacy, among generally literate people, pertaining to market participation and market participation intensity. It examines such market participation in both the traditional segments of the financial markets and the new segments [cryptocurrencies, structured retail products (SRPs) and crowdfunding].

Design/methodology/approach

The data are from a survey conducted in 2020 by the Portuguese Securities Commission in cooperation with 12 Portuguese universities. The final sample comprises 2,054 respondents. The basic and advanced financial literacy indexes were calculated following van Rooij et al. (2011). This paper uses probit regressions and ordinary least squares regressions with robust errors.

Findings

This study shows that even highly literate people are influenced by their perceived financial knowledge and its bias toward their actual skills. However, overconfidence has no significant association with securities market participation but rather is marginally correlated with the intensity of such participation. Underconfidence is negatively related to both. Moreover, the relationship between advanced financial literacy and overconfidence pertaining to participation in more complex market segments depends on the product type. Specifically, overconfidence has a positive relationship with participation in cryptocurrencies and SRPs but not with crowdfunding.

Research limitations/implications

The securities market regulators should take note that participation in some complex market segments, even among literate people, is associated with investor overconfidence. Given that effective financial literacy correlates with participation in some more complex financial market segments and not others, the implication for future research is that the performance of individual investors may differ across these different segments. Additionally, this paper argues that the metrics used to assess financial literacy must take cognizance of the topics required to participate in the new market segments of financial markets.

Originality/value

This paper augments this stream of literature in several respects. First, it focuses on highly educated and trained people rather than the general population. Second, while the previous literature measures market participation using a simple dummy to identify respondents who invest in stocks, this paper also measures the intensity of participation. In addition, this study investigates the financial literacy effect from participation in the more complex segments of the securities markets, as in the case of cryptocurrencies and SRPs.

Details

Studies in Economics and Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1086-7376

Keywords

Article
Publication date: 8 September 2022

Qin Chen, Jiahua Jin and Xiangbin Yan

Since the success of online communities depend on physicians' participation, understanding factors that influence community participation and content contribution are…

Abstract

Purpose

Since the success of online communities depend on physicians' participation, understanding factors that influence community participation and content contribution are critical for online health communities (OHCs). Drawing on the self-determination theory (SDT), an empirical model was proposed to explore the effects of social returns and economic returns on physicians' community participation, private content contribution and public content contribution, and the moderating effect of their online seniority. This paper aims to address these issues.

Design/methodology/approach

Empirical data of 4,343 physicians were collected from a Chinese OHC, and ordinary least squares (OLS) and negative binomial regression models were employed to verify the proposed theoretical model.

Findings

The authors’ results indicate that both social and economic returns have a positive effect on physicians' community participation and private content contribution, and their online seniority strengthens the positive effects of economic returns on community participation and private content contribution.

Originality/value

The authors’ research extends physicians' community participation by dividing content contribution into private and public, and enhances our understanding of the determinants of physicians' participation in OHCs by exploring the effects of social and economic returns, as well as the moderating effect of online seniority. Their findings contribute to the literature on e-Health and user participation, and provide management implications for OHC managers.

Peer review

The peer review history for this article is available at https://publons.com/publon/10.1108/OIR-11-2021-0615/

Details

Online Information Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1468-4527

Keywords

Article
Publication date: 11 August 2022

Sujo Thomas, Viral Bhatt and Ritesh Patel

This study examines the influence of consumer skepticism on cause-related marketing (CRM) campaign participation intentions of Generation Z consumers from emerging market…

Abstract

Purpose

This study examines the influence of consumer skepticism on cause-related marketing (CRM) campaign participation intentions of Generation Z consumers from emerging market perspective. This study was undertaken due to the paucity of relevant literature in the public domain to directly investigate whether and how consumers' skepticism affects CRM participation intentions, specifically in the luxury retailing context.

Design/methodology/approach

A survey was conducted among 552 Generation Z consumers and path analysis was used to examine the direct and indirect effects of skepticism. The mediation and moderation analysis was used to explore and test the authors' hypotheses via partial least squares structural equation modeling (PLS SEM).

Findings

The authors' findings provide empirical evidence that corporate social responsibility, religiosity and cause involvement positively affects consumer participation intentions, and this link is also established indirectly through skepticism toward the CRM campaign. These findings provide novel theoretical contributions by establishing skepticism's complex role in determining the CRM participation intention in the Generation Z consumers' context. This study further demonstrates the moderating effect of gender and luxury store format on consumer skepticism and CRM participation intentions.

Originality/value

The Generation z group will represent a quarter of the Asia–Pacific region's population by 2025. However, little is known about Generation z consumers' CRM participation intentions. This research would help practitioners, including luxury retailers, CRM managers and advertising professionals, to effectively design CRM campaigns. The paper contributes by highlighting the theoretical implications and managerial implications based on the current findings in the emerging market context.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 23 August 2022

Ina-Maria Jansson

The present study aims to contribute to the understanding of digital participation in heritage collections as a democratizing practice by identifying and challenging…

Abstract

Purpose

The present study aims to contribute to the understanding of digital participation in heritage collections as a democratizing practice by identifying and challenging silent assumptions concerning how the insufficient influence of participants is conceived of as a problem.

Design/methodology/approach

Three carefully selected scholarly texts incorporating problematizations of insufficient participatory agency were analyzed in detail using a method inspired by Carol Bacchi's approach “what's the problem represented to be?” (WPR), with special emphasis on analysis of ontological elements of the problematizations.

Findings

Participation is problematized based on the assumption that participatory agency risks jeopardizing the protection of heritage and leads to parts of the public memory being forgotten. To challenge the idea that participatory agency is destructive, the present article argues for elaborating an understanding of what forgetting entails for heritage. Framing forgetting as a potentially both harmful and generative concept enables a separation of destructive forgetting (e.g. destruction of historical evidence) and constructive forgetting (re-contextualization).

Research limitations/implications

The study is based on a limited number of texts, and problematizations are investigated in relation to a specific perspective on participatory agency.

Practical implications

By understanding forgetting as a potentially beneficial activity for representation and heritage construction, the article provides a conceptual rationale for facilitating re-contextualization in the design of multi-layered information structures for heritage collections.

Originality/value

There is little earlier research on the silent assumptions that affect how participation is understood and implemented.

Details

Journal of Documentation, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0022-0418

Keywords

Article
Publication date: 10 August 2022

Peiyu Zhou, Shuping Zhao, Yiming Ma, Changyong Liang and Junhong Zhu

The purpose of this paper is to understand the effect of platform characteristics (i.e. media richness and interactivity) on individual perception (i.e. outcome…

Abstract

Purpose

The purpose of this paper is to understand the effect of platform characteristics (i.e. media richness and interactivity) on individual perception (i.e. outcome expectations) and consequent behavioral response (i.e. user participation in online health communities (OHCs)) based on the stimulus-organism-response (S-O-R) model.

Design/methodology/approach

This study developed a research model to test the proposed hypotheses, and the proposed model was tested using partial least squares structural equation modeling (PLS-SEM) for which data were collected from 321 users with OHC experience using an online survey.

Findings

The empirical results show the following: (1) the three dimensions of media richness significantly affect the three outcome expectations, except that richness of expression has no significant effect on the outcome expectation of health self-management competence. (2) Human-to-human interaction significantly affects the three outcome expectations. Moreover, compared with human-to-human interaction, human-to-system interaction has a stronger impact on the outcome expectation of health self-management competence. (3) The three outcome expectations have a significant influence on user participation in OHCs.

Originality/value

This study extends the understanding about how platform characteristics (i.e. media richness and interactivity) motivate user participation in the context of OHCs. Drawing on the S-O-R model, this study reveals the underlying mechanisms by which media richness and interactivity are associated with outcome expectations and by which outcome expectations is associated with user participation in OHCs. This study enriches the literature on media richness, interactivity, outcome expectations and user participation in OHCs, providing insights for developers and administrators of OHCs.

Details

Aslib Journal of Information Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2050-3806

Keywords

Open Access
Article
Publication date: 9 August 2022

Kingstone Nyakurukwa and Yudhvir Seetharam

One of the most important phenomena that have been confronted in the field of household finance is the stock market participation puzzle. The puzzle describes the anomaly…

Abstract

Purpose

One of the most important phenomena that have been confronted in the field of household finance is the stock market participation puzzle. The puzzle describes the anomaly that the majority of households do not have ownership of stock market products, though empirically stocks give higher expected returns than risk-free assets. The stock market participation rate plays an important role as it has a direct bearing on the equity premium. In this study, the authors aim to investigate how financial literacy and various proxies of social interaction are associated with stock market participation in South Africa.

Design/methodology/approach

The study uses probit regression and ordinary least squares using the South African National Income Dynamics survey Wave 5 of 2017 to investigate whether financial literacy and social interaction are significantly associated with stock market participation. The financial literacy index is computed using factor analysis on the responses to the financial literacy questions used in the survey. The authors use three proxies for social interaction, namely membership in a Stokvel, membership in a men's association and membership in a women's association.

Findings

The results reveal that an increase in financial literacy increases the odds of respondents participating in the stock market. Among the control variables, age, race and level of education are significantly associated with stock market participation. When it comes to social interaction, it is belonging to a men's association that is significantly associated with stock market participation. The other proxies for social interaction are insignificantly associated with stock market participation.

Originality/value

The study contributes to the extant literature by using a set of proxies for social interaction that have the potential to influence stock market participation which have not been used in a South African context.

Details

Review of Behavioral Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1940-5979

Keywords

Article
Publication date: 23 August 2022

Angela J. Xu, Ting Ting Zhu, Raymond Loi and Cheris W.C. Chow

Drawing on and extending the socially embedded model of thriving, this paper aims to investigate how and when customer participation promotes hospitality frontline…

Abstract

Purpose

Drawing on and extending the socially embedded model of thriving, this paper aims to investigate how and when customer participation promotes hospitality frontline employees’ engagement in extra-role service behavior.

Design/methodology/approach

A two-wave questionnaire survey was carried out among frontline service employees and their immediate supervisors in a four-star business hotel in Eastern China. Path analysis using Mplus 8.3 examined a multilevel moderated mediation model.

Findings

Customer participation has a positive effect on frontline employees’ experience of thriving, which in turn promotes their engagement in extra-role service behavior. Nevertheless, supervisors’ negative affect weakens the positive effect of customer participation.

Practical implications

Hotels could implement employee assistance programs, arrange training on emotional regulation and positive psychology and create a fun work environment to help alleviate supervisors’ experience of negative affect so as to lessen its adverse effect on frontline employees’ perception of customer participation.

Originality/value

First, this work is one of the few studies exploring how customer participation affects frontline employees’ well-being (in terms of thriving) and extra-role service behavior, which advances extant value co-creation literature. Second, the moderating role of supervisors’ negative affect enriches the limited understanding of when customer participation might not bring firm benefits. Third, by uncovering customer participation as an antecedent of employee thriving, this study extends thriving research that only attends to contexts located within organizations.

Details

International Journal of Contemporary Hospitality Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0959-6119

Keywords

Open Access
Article
Publication date: 4 July 2022

Haydory Akbar Ahmed

This paper explores the evidence of a long-run co-movement between aggregate unemployment insurance spending and the labor force participation rate in the USA. The…

Abstract

Purpose

This paper explores the evidence of a long-run co-movement between aggregate unemployment insurance spending and the labor force participation rate in the USA. The unemployment insurance (UI) program tends to expand during an economic downturn and contract during an expansion. UI may incentivize unemployment and may also facilitate better matching in the labor market. Statistical evidence of the presence of a co-movement will thus shed new light on their dynamics.

Design/methodology/approach

This research applies time-series econometric approach using monthly data from 1959:1 to 2020:3 to test threshold cointegration and estimate a threshold vector error-correction (TVEC) model. The estimates from the TVEC model investigating the nature of short-run dynamics.

Findings

The Enders and Siklos (2001) test find evidence of threshold cointegration between the two indicating the presence of long-run co-movement. The estimates from the TVEC model investigating the nature of short-run dynamics find evidence that the growth in aggregate UI spending and the growth in labor force participation rate adjust simultaneously to maintain the long-run co-movement above the threshold in the short run. The author also observes the same short-run dynamics for the growth in aggregate UI spending and the growth in the labor force participation rate for females.

Research limitations/implications

This model is bi-variate by construction and does not address causality.

Practical implications

The author argues that the UI program positively impacts the female labor market outcomes, for example, better matching. This finding may explain the upward trend in the labor force participation rate for females in the USA.

Social implications

The research findings may justify the transfer programs for minority and immigrants.

Originality/value

This is first research that analyzes the UI programs impact on the labor force participation using a macroeconometric approach. To the best of the author's knowledge, this is the first study in this genre.

Details

EconomiA, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1517-7580

Keywords

Article
Publication date: 28 June 2022

Ismail Juma Ismail

Smallholder farmers in Tanzania were investigated in this paper to determine the dimensions and influence of psychological contracts on smallholder farmers' decisions to…

Abstract

Purpose

Smallholder farmers in Tanzania were investigated in this paper to determine the dimensions and influence of psychological contracts on smallholder farmers' decisions to participate in the market.

Design/methodology/approach

Data were collected through structured questionnaires, of which a cross-sectional design was conducted in central Tanzania, the Dodoma region in which 467 smallholder farmers were surveyed. First, a preliminary Exploratory Factor Analysis (EFA) was conducted by involving psychological contracts and market participation items derived from previous studies. This was followed by the Confirmatory Factor Analysis (CFA) to verify the items obtained in the EFA. The regression analysis was then performed to test the causal effects of psychological contracts on market participation among smallholder farmers.

Findings

The path analysis revealed that transactional, relational, and ideological contracts have a positive and statistically significant impact on the participation of smallholder farmers in the market. Therefore, smallholder farmers have own set of expectations for participating in the marketplace. As a result, smallholder farmers' relationships with market participation decisions can be strengthened.

Research limitations/implications

This study covered only smallholder farmers. However, future studies can include large-scale farmers, because psychological contracts and market participation difficulties also apply to them. This may increase the generalizability of the findings.

Originality/value

Past studies have not extensively covered the psychological contracts in smallholder farming, especially in market participation. Based on prior empirical and theoretical research from other disciplines, the findings of this study contribute to a better understanding of the psychological contract framework and the significance of multiple psychological obligations between smallholder farmers and market management.

Details

Journal of Agribusiness in Developing and Emerging Economies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-0839

Keywords

Article
Publication date: 19 July 2022

Hamid Roodbari, Karina Nielsen, Carolyn Axtell, Susan E. Peters and Glorian Sorensen

Realist evaluation seeks to answer the question of “what works for whom in which circumstances?” through developing and testing middle range theories (MRTs). MRTs are…

Abstract

Purpose

Realist evaluation seeks to answer the question of “what works for whom in which circumstances?” through developing and testing middle range theories (MRTs). MRTs are programme theories that outline how certain mechanisms of an intervention work in a specific context to bring about certain outcomes. In this paper, the authors tested an initial MRT about the mechanism of participation. The authors used evidence from a participatory organisational intervention in five worksites of a large multi-national organisation in the US food service industry.

Design/methodology/approach

Qualitative data from 89 process tracking documents and 24 post-intervention, semi-structured interviews with intervention stakeholders were analysed using template analysis.

Findings

The operationalised mechanism was partial worksite managers’ engagement with the research team. Six contextual factors (e.g. high workload) impaired participation, and one contextual factor (i.e. existing participatory practices) facilitated participation. Worksite managers’ participation resulted in limited improvement in their awareness of how working conditions can impact on their employees’ safety, health, and well-being. Based on these findings, the authors modified the initial MRT into an empirical MRT.

Originality/value

This paper contributes to the understanding of “what works for whom in which circumstances” regarding participation in organisational interventions.

Details

International Journal of Workplace Health Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8351

Keywords

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