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This article aims to clarify the mechanism by which herding behavior influences perceived market efficiency, investment decisions and the performance of individual investors actively trading on the Pakistan Stock Exchange (PSX).

The deductive approach was used in this study, as the research is based on the theoretical framework of behavioral finance. A questionnaire and cross-sectional design were employed to collect data from the sample of 309 investors trading on the PSX. The collected data were analyzed using SPSS and AMOS graphics software. Hypotheses were tested using structural equation modeling (SEM).

The article provides further empirical insights into the relationship between herding behavior and investment management and perceived market efficiency. The results suggest that herding behavior has a markedly negative influence on perceived market efficiency and investment performance, while positively influencing the decision-making of individual investors.

The current study is the first to focus on links between herding behavior and investment management activities and perceived market efficiency. This article enhances the understanding of the role that herding behavior plays in investment management and, more importantly, it improves understanding of behavioral aspects and their influence on investment decision-making in an emerging market. It also adds to the literature in the area of behavioral finance, specifically the role of herding behavior in investment management; this field is in its initial stage, even in developed countries, while little work has been done in developing countries.

The paper examines the ‘Intention to Receive the COVID-19 Vaccines’ or IRV from three perspectives: the health belief model, behavioural economics, and institutional quality.

This study provides quantitative analysis by applying Chi-squared test of contingencies, paired sample t-tests, exploratory factor analysis, and multiple linear regression (stepwise method) on the data collected from 591 respondents mainly from Malaysia.

The results show that Perceived Benefits, Perceived Barriers, Perceived Susceptibility, Herding, and Institutional Quality play roles as predictors of IRV. Perceived Benefits play the most crucial role among the predictors and Perceived Barriers is the least important predictor. People have the herding mentality after being exposed to information encouraging such behaviour.

This study reveals that the respondents changed their behaviour in different circumstances when exposed to information that incorporates the effect of herding. Herding mentality, the effectiveness of government authorities, and regulatory quality have become important factors in enriching public health policies and the effectiveness of interventions.

Facial recognition payment is an emerging mobile payment method that uses human biometrics for personal identification. The purpose of this study is to examine how users' salient beliefs regarding the technology–organization–environment–individual (TOE–I) dimensions affect their attitudes and how attitudes subsequently influence the intention to use facial recognition payment in offline contactless services.

This study comprehensively investigates customers' decision-making psychological mechanism of using facial recognition payment by integrating the belief–attitude–intention (B–A–I) model and the extended TOE–I framework. Data from 420 valid samples were collected through an online survey and analyzed using partial least squares structural equation modeling.

Research results indicate that convenience and perceived herd exert positive effects on trust and satisfaction. Meanwhile, familiarity has a significantly positive effect only on trust but not on satisfaction. In contrast, perceived privacy risk exhibits a negative effect on both trust and satisfaction. Trust and satisfaction positively influence the intention to use facial recognition payment. Unexpectedly, self-awareness negatively moderates the effect of satisfaction on intention to use, but its effect on the relationship between trust and intention to use is non-significant.

To the best of the authors’ knowledge, this study is one of the early studies that explicate customers' psychological mechanism in facial recognition payment in offline contactless services through an understanding of the B–A–I causal linkages with the identification of users' perceptions from a comprehensive context-specific perspective. This study enriches the literature on facial recognition payment and explores the moderating role of self-awareness in the relationship between users' attitudes and intention to use, thereby revealing a complex psychological process in the usage of offline facial recognition payment systems.

Social media has progressively upgraded an interactive domain via online sociability and information-sharing. This study aims to formulate an information-sharing intention model by identifying the decisive role of intrinsic and extrinsic motivations.

Empirical data from 508 participants were collected to examine the structural model using structural equation modeling.

Results indicate that information-sharing intention is strongly promoted by intrinsic and extrinsic motivations. Furthermore, perceived herding, perceived crowd and intrinsic motivation boost substantially extrinsic motivation. Perceived herding is of utmost importance to extrinsic motivation, whereas emotional appeal and informative appeal are of paramount importance to intrinsic motivation. Moreover, source trust and exhibitionism are underlying motivations for intrinsic motivation.

The findings provide useful guidelines for practitioners to urge users into information-sharing via social media.

This study contributes significantly to the current literature by developing an effective mechanism of information-sharing through social media based on the motivational theory.

Prompted by intense competition among providers of food delivery services, this study examines the behavior of customers using mobile applications. Specifically, based on a push-pull-mooring framework, this study aims to identify the key factors affecting customers’ switching intentions in the food delivery context. A push factor is assumed to drive customers away from an existing service provider due to dissatisfaction, while a pull element lures them to an alternative provider by supplying enhanced levels of enjoyment, usefulness and/or informativeness and mooring factors (i.e. affective commitment and perceived herd) help make these switching decisions.

Partial least squares structural equation modeling with SmartPLS was used because it is suited to predictive models and produces stringent assessments of measurement models using a variance-based approach. Data was collected through an online survey. Participants were 350 food delivery application (FDA) customers in the USA.

The results highlight the importance of a push factor (dissatisfaction with the present FDA) and a mooring factor (perceived herd) as determinants of customers’ perceptions of risk that can induce a decision to switch to another FDA. However, the pull factors of usefulness, enjoyment and information quality did not significantly influence switching behavior.

Many food delivery service providers now use mobile application technologies to provide their services. Such companies can use the factors that influence customer switching intentions identified in this study to control customers’ churn behavior by managing dissatisfied customers in the mobile context.

在外卖服务提供商之间激烈竞争的推动下, 本研究考察了使用移动应用程序的客户行为。具体来说, 基于推-拉-系泊框架, 本研究旨在确定影响客户在外卖环境中转换意图的关键因素。推力因素被认为是由于不满意而驱使客户离开现有服务提供商, 而拉力因素通过提供更高水平的享受、实用性和/或信息性来吸引他们到替代提供商, 系泊因素（即情感承诺和感知群体）则有助于做出这些转换决定。

使用SmartPLS进行偏最小二乘结构方程模型分析, 因为它适用于预测模型, 并使用基于方差的方法对测量模型进行严格评估。数据通过在线调查收集。参与者是来自美国的350名外卖应用程序（FDA）客户。

结果强调了推力因素（对当前FDA的不满）和系泊因素（感知群体）作为影响客户感知风险的决定因素, 可能导致客户决定切换到另一个FDA。然而, 实用性、享受和信息质量的拉力因素并未显著影响转换行为。

许多外卖服务提供商现在使用移动应用程序技术提供服务。此类公司可以利用本研究中确定的影响客户转换意图的因素, 通过管理在移动环境中的不满意客户来控制客户流失行为。

This study aims to propose a theoretical model to determine factors affecting an individual’s intentions to use social commerce (SC) in generating and sharing information on a vendor’s products and services. This, however, involves the application of three fundamental aspects including social interaction, social technology and personal trait used in constructing SC to propose these factors.

A cross-sectional time approach of the quantitative field study was used with the data collected from 874 users of SC in Indonesia using questionnaires.

The results showed social technology to be the dominant aspect influencing users’ intention to use SC followed by social experience and personality traits while, in detail, perceived enjoyment was discovered to have the most influence and this is in line with the findings of previous studies. Moreover, new results were also identified based on direct, indirect and moderating effects of gender, age and experience.

This research is different from previous ones because of its proposal of an extensive model that combines three main perspectives used in constructing SC and its emphasis on the theoretical and practical importance of studying not only the direct but also the indirect and moderating effects.

The purpose of this paper is to develop a theoretical model based on Push–Pull–Mooring (PPM) framework consisting of direct, indirect and moderating effects, derived from technology acceptance model, unified theory of acceptance and use of technology and other extended theory, to address the main factor influencing an individual in adopting mobile payment (MP) in physical stores. The research, therefore, utilized individual switching behavior as an underpinning to explain MP adoption in an offline context.

The theoretical model was tested by collecting data from 459 respondents in Indonesia through online self-administered questionnaires.

The finding indicated consumer innovativeness has the most influential direct effect on MP adoption, followed by deal proneness, perceived convenience and perceived herd behavior. Meanwhile, perceived enjoyment and subjective norms were found to have an indirect effect on the adaptation of MP through mediator convenience. Furthermore, age, gender, occupation and income did not have any moderating effect for all the direct influence of MP adoption.

Previous literature only focused on direct intention. However, this study observed the adoption of MP in a physical store by involving the switching behavior. It specifically puts concern and objective as the factors that influence user intention to switch from their old payment system to the MP system in bricks and mortar store using PPM framework.

This study proposed a theoretical model to understand user intention to use social commerce (SC) of an emerging market based on social experience and social technology. The SC scope was limited to the third-party Social Network Sites utilized by the vendor to establish social interaction and communication with and among the customer about commercial activity.

A total of 750 Indonesian respondents were used to examine the research model using online and offline self-administered questionnaires.

The findings from the final model showed Perceived Enjoyment from the social technology factor has the most substantial direct effect on behavior intention in SC followed by the direct effect of Perceived Usefulness, the indirect effect of content quality, and social presence. Meanwhile, from social experience, the perceived herd was found to have a strong immediate effect on intention, followed by the direct effect of emotional support and indirect effect of subjective norms.

Concerning SC study in emerging markets, the previous research also explored user intention from social and technical aspects, especially with the focus on consumer's desire to purchase. Meanwhile, the focus of this study was to investigate the determinant of social interaction intention by engaging in the SC community, which differs from prior research.

The paper aims to explore the effects of the behavioural antecedents suggested by the theory of planned behaviour (TPB) (i.e. positive subjective norms, high perceived behavioural control and positive attitudes towards switching) on the switching propensity of retail banking customers at several critical switching incidents (CSIs) (i.e. events of unfavourable reputation concerning their current bank or favourable reputation concerning competitor banks, service failures, problems with charges and interest rates, herding behaviour, inconvenience, alternative banks' attractiveness and unethical bank practices).

A self-completed online survey was conducted among 324 Cypriot retail banking customers. For the data analysis, the researchers used principal component analysis (PCA), confirmatory factor analysis (CFA) and structural equation modelling (SEM).

The study revealed that the behavioural antecedents specified by TPB play different roles in various CSIs. Positive subjective norms may drive bank customers to switch at critical incidents such as: service failure, unfavourable bank reputation, alternative banks' attractiveness, inconvenience, favourable reputation of other banks and herding behaviour. High perceived behavioural control can lead to switching, only in the case of other banks' favourable reputation. Finally, positive attitudes towards switching may affect bank clients to switch in cases of service failure, unfavourable bank reputation, alternative attractiveness and inconvenience.

To the best of the authors' knowledge, no other previous research work has examined the interaction between the antecedents of switching behaviour (as specified by TPB) and switching propensity at different CSIs. The study addresses the gap of explaining the reasons for which, at similar incidents, some bank customers choose to switch to other banks, whereas others do not.

This study aimed to understand mobile payment (MP) continuance usage in physical settings from trust and social experience perspective. A theoretical model was proposed based on trust transfer and social impact to reveal the factors influencing user intention to continually use MP.

Structural equation modeling (SEM) analysis was used on 308 respondents from Indonesia to examine the theoretical model while principal component factor analysis and descriptive statistics were utilized for data preparation.

The findings revealed the Perceived Herd behavior had the most significant contribution to Trust formation followed by Perceived Risk and Para-social interaction while the analysis of indirect and moderating effect was also significant in enriching the result.

This study postulated social experience as an antecedent factor to the formation of Trust in the MP continuance usage context. Moreover, while the commonly explored direct effect was investigated, the indirect effect and moderating impact that has not been addressed adequately in previous MP studies were also analyzed and this can be considered as a contribution to the body of knowledge.