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Article
Publication date: 6 July 2015

Professor Paul Sergius Koku

4

Abstract

Details

International Journal of Bank Marketing, vol. 33 no. 5
Type: Research Article
ISSN: 0265-2323

Article
Publication date: 6 July 2015

Paul Sergius Koku and Sharan Jagpal

The purpose of this paper is twofold: to examine the plight of a particular segment of the poor – the working poor – in the USA relative to their exclusion from traditional…

2503

Abstract

Purpose

The purpose of this paper is twofold: to examine the plight of a particular segment of the poor – the working poor – in the USA relative to their exclusion from traditional financial markets and their patronage of the payday loan market; and to propose a framework that offers guidance to law makers in making laws/crafting policies that help the working poor gain better access to credit.

Design/methodology/approach

This is a conceptual paper that reviews the literature on the payday loan market and uses its findings to propose a strategy to ameliorate the plight of the working poor.

Findings

The study integrates the findings of studies on the payday loan market with theories of corporate social responsibility. Using these findings the authors develop a framework that can guide policy makers in making policies that address the exclusion of the working poor from financial markets.

Research limitations/implications

As a conceptual paper based on theories, the study does not provide empirical validation. The paper develops a framework that could guide policy makers as they consider legislation to address the financial exclusion of the poor, particularly with regard to payday loans.

Practical implications

The paper proposes a policy framework to solve the “debt treadmill” problems of the working poor.

Social implications

The consequent improvement of the financial conditions of the working poor improves society in general.

Originality/value

To the best of the knowledge, this is the first marketing paper that has proposed a structural framework to address the exclusion of the working poor from the credit markets.

Details

International Journal of Bank Marketing, vol. 33 no. 5
Type: Research Article
ISSN: 0265-2323

Keywords

Article
Publication date: 6 July 2015

Paul Sergius Koku

The purpose of this paper is to conduct a cross-disciplinary review of the literature on financial exclusion in order to provide a place where one could have a bird’s eye view of…

3505

Abstract

Purpose

The purpose of this paper is to conduct a cross-disciplinary review of the literature on financial exclusion in order to provide a place where one could have a bird’s eye view of the academic activities that have been happening in the area.

Design/methodology/approach

As a literature review, no specific methodology is required.

Findings

Researchers in economic geography and urbanization seem to have contributed significantly to the growing literature on financial exclusion. The persistence of the problem despite efforts to combat it calls for innovative thinking on the part of marketing scholars and financial institutions on how to serve the unbanked.

Research limitations/implications

The review identifies gaps in the state of current research and provides direction for future research.

Practical implications

The study identifies gaps in the literature and provides directions for future research.

Social implications

As a literature review, there is only an indirect social implications in the sense that the studies reviewed could be used to impact people’s lives.

Originality/value

As a literature review, originality is not an applicable criterion, however, the study provides value to the reader by bringing together disparate studies at one place and by pointing out gaps in the current state of research.

Details

International Journal of Bank Marketing, vol. 33 no. 5
Type: Research Article
ISSN: 0265-2323

Keywords

Article
Publication date: 17 February 2012

Paul Sergius Koku

The purpose of this study is to examine the effectiveness of consumer boycotts, which have been launched by individuals using the internet, in inflicting economic harm on the…

3209

Abstract

Purpose

The purpose of this study is to examine the effectiveness of consumer boycotts, which have been launched by individuals using the internet, in inflicting economic harm on the targeted firms.

Design/methodology/approach

The paper uses the event study technique to analyze the market's response to consumer boycotts launched by individuals using the internet.

Findings

The results show that consumer boycotts launched by individuals on the internet are ineffective in inflicting economic harm on the targeted firm.

Research limitations/implications

Despites the buzz about the “dark side” of marketing using the internet, the stock market does not react significantly to boycotts launched by individuals using the internet. However, the small sample size of 63 events tampers the temptation to generalize the findings. Future studies can be conducted with a larger sample size with a different time horizon for a deeper understanding.

Practical implications

In spite of the findings of this study, managers should still monitor how consumers use the internet to mobilize others against an organization as such consumer actions can affect a firm's reputation negatively.

Originality/value

The study contributes to the boycott literature and furthers the understanding on the effectiveness/ineffectiveness of the internet as a boycott tool that is intended to inflict economic harm on the targeted firm.

Details

Journal of Services Marketing, vol. 26 no. 1
Type: Research Article
ISSN: 0887-6045

Keywords

Article
Publication date: 6 July 2015

Nadiya Marakkath and Laurence Attuel-mendes

– The purpose of this paper is to discuss how regulatory environment can be a fundamental constraint or lever in defining the scope of operations of a social innovation.

2441

Abstract

Purpose

The purpose of this paper is to discuss how regulatory environment can be a fundamental constraint or lever in defining the scope of operations of a social innovation.

Design/methodology/approach

Semi-structured interviews with top-level executives of pioneers of crowdfunding were run in India and France, two of the three leading countries in this field.

Findings

Four main issues rise: choice of legal status, constraints for the operations model, compliance with anti-money laundering measures and challenges in marketing and sustainability.

Originality/value

This paper contributes to knowledge advancement in the field of this new funding actor that could challenge the banking system. This is the first paper to explore these regulatory issues and their impact on marketing practices.

Details

International Journal of Bank Marketing, vol. 33 no. 5
Type: Research Article
ISSN: 0265-2323

Keywords

Article
Publication date: 6 July 2015

Yuliya Komarova Loureiro and Laura Gonzalez

The purpose of this paper is to provide insights into peer-to-peer (P2P) lending which has served as one important tool to mitigate financial exclusion. The main proposition of…

2224

Abstract

Purpose

The purpose of this paper is to provide insights into peer-to-peer (P2P) lending which has served as one important tool to mitigate financial exclusion. The main proposition of this research is that P2P platforms, which in many ways resemble auctions, naturally instill competitive mindset among lenders; furthermore, given only limited objective decision criteria, certain borrower personal characteristics fuel interpersonal competition enough to impact lending decisions in suboptimal ways. The two experiments support this proposition. As the result, while P2P lending offers unprecedented financial opportunities to some consumer groups, it may unintentionally exclude others, and even pose threat to the financial well-being of lenders.

Design/methodology/approach

Two experiments were used to collect data and are reported here. Rigorous pretesting of manipulation stimuli preceded a pilot (exploratory) and the main experiment.

Findings

The authors generally find a significant age bias, where ceteris paribus, younger borrowers are offered lower loan amounts as lenders most likely infer greater risk and lower likelihood to repay loans on time. However, and perhaps more interestingly, when age is not a strong indicator of experience (as in the case with 30 something), the authors repeatedly find evidence of lending decisions driven by interpersonal competition: more attractive and financially successful loan applicants of the same gender as lenders are most likely perceived as a personal threat, decreasing lenders’ confidence, which subsequently results in lower amounts being invested into loans that are possibly the most promising.

Originality/value

To the best knowledge, this research is first to demonstrate the impact of interpersonal competition on decision making in the context of P2P lending. Furthermore, this paper contributes to better understanding of P2P lending as a tool to allay financial exclusion, while raising concerns of possible unintended exclusion of certain consumer segments due to the competitive nature of P2P platforms.

Details

International Journal of Bank Marketing, vol. 33 no. 5
Type: Research Article
ISSN: 0265-2323

Keywords

Article
Publication date: 6 July 2015

Alvin J Williams and Ben Oumlil

The reviewed literature emphasized that the student loan debt issues have a lot of connections to the economy. This conclusion is in support with broader evidence that high…

4594

Abstract

Purpose

The reviewed literature emphasized that the student loan debt issues have a lot of connections to the economy. This conclusion is in support with broader evidence that high student debt levels are a drag on economic growth. Additionally, disadvantaged and other vulnerable groups, including students, are more likely to be excluded from the formal, regulated financial sector and not be able to take advantage of mainstream financial service providers (e.g. lack access to credit, insurance, and other formal financial services). Among the primary reasons cited for this financial exclusion has to do with a lack of understanding or familiarity with traditional financial services. The aim of this paper is to look at alternate approaches in promoting financial literacy to manage the huge private debt burden facing this important segment of the population. The purpose of this paper is to advance a model of college students’ financial capabilities enhancement to partially alleviate some of the problems related to deficits in financial knowledge among this population. The integrative model provides a framework to be operationalized by institutional decision-makers and policymakers at all levels. The model can be adapted to fit unique institutional circumstances and culture. Successful implementation of the model has the potential to enhance the quality of financial health among college students and young adults.

Design/methodology/approach

The manuscript’s aim is to advance a model of college students’ financial capabilities in an effort to prevent their financial exclusion. The proposed model provides a framework to be operationalized by institutional decision-making processes. The model offers six distinct, but inter-related components – antecedent variables, program design and implementation, delivery modalities, program content, behavioral outcomes, and measurement and assessment.

Findings

The underlying raison d’etre for the model is to offer a comprehensive, inclusive, across-the-board roadmap to guide universities, and other organizations in conceptualizing, planning, organizing, implementing, and assessing financial education-related systems and processes designed to enhance the long-term financial choices and behaviors of students. Through careful consideration of each of the phases of the model, decision-makers at all levels and all types of organizations should have a stronger grasp of the depth and breadth of actions required to effect the desired changes in students’ financial behavior.

Research limitations/implications

As with any paper there are limitations. The paper is conceptual and lacks data to test some of the linkages. Future research efforts should posit specific propositions to be tested based on the linkages offered in the model. Given the nature of the research theme, there is considerable benefit from taking a case-based approach to future research to offer more in-depth analyses of student financial literacy deficits across different situations and types, student markets, and educational institutions. The current research could also benefit from a stronger cross-cultural focus. While huge college student debt is probably more burdensome in the USA, it is helpful to get input from students in countries that lack a tradition of heavy borrowing to pay for college costs. Researching debt management trends across cultures should provide useful micro- and macro-economic data for policymakers and others.

Practical implications

The paper introduces a model of college students’ financial capabilities enhancement and financial exclusion’s prevention that offers one avenue to partially remedy the direct and indirect ills perpetrated and perpetuated by insufficient financial knowledge among young adults, especially the college segment (i.e. to promote financial inclusion and financial exclusion’s prevention). The model provides a comprehensive and integrative path for college administrators and others to consider when designing programs to enhance the overall financial knowledge acumen and savvy of college students. Specifically, the model discusses antecedent variables, program design and implementation, delivery modalities, program content, behavioral outcomes, and measure and evaluation options.

Social implications

There is considerable concern among students, parents, marketers, and public policymakers regarding deficiencies in financial knowledge and capabilities among the young adult population. Students have massive student loan debt, collectively, and there is a multifaceted clarion call to develop integrative solutions to this daunting scenario. The paper discusses the gravity and consequences of financial literacy deficits among college students and some associated solutions.

Originality/value

The model offers six distinct, but inter-related components – antecedent variables, program design and implementation, delivery modalities, program content, behavioral outcomes, and measurement and assessment. The model is posited as an “intervention strategy” capable of strengthening the capacity of young college adults to make informed financial decisions, thus impacting their quality of life over the long run. In particular the model offers a form of empowerment to this consumer segment. As stated, the underlying raison d’etre for the model is to offer a comprehensive, inclusive, across-the-board roadmap to guide universities and other organizations in conceptualizing, planning, organizing, implementing, and assessing financial education-related systems and processes designed to enhance the long-term financial choices and behaviors of students. Through careful consideration of each of the phases of the model, decision-makers at all levels and all types of organizations should have a stronger grasp of the depth and breadth of actions required to effect the desired changes in students’ financial behavior.

Details

International Journal of Bank Marketing, vol. 33 no. 5
Type: Research Article
ISSN: 0265-2323

Keywords

Article
Publication date: 8 April 2019

Paul Sergius Koku

This paper aims to present the author’s viewpoint on the developments in the Journal of Services Marketing (JSM) during the past 25 years of his association with the Journal. The…

Abstract

Purpose

This paper aims to present the author’s viewpoint on the developments in the Journal of Services Marketing (JSM) during the past 25 years of his association with the Journal. The paper documents the evolution in the Journal, highlights significant changes and makes some prognostications for the future.

Design/methodology/approach

The paper relies on the first-hand account of the author, which is supplemented by limited qualitative data analysis that consists of analyzing keywords and the abstract of articles published in JSM during the past 25 years.

Findings

The first-hand account shows that JSM has undergone changes that reflect changes that have taken place in the field of marketing. The issues/topics of manuscripts submitted and published in the Journal have become interdisciplinary and so are the analytical techniques. This expanding scope of the Journal positions it well for the future in which collaborative research will be more pervasive in the academy.

Research limitations/implications

This is a first-hand account with limited data analysis and therefore could suffer from the writer’s biases even though they might be unintended.

Practical implications

This paper documents the expanding scope of the Journal that may have been the result of explicit steps taken to make the Journal more successful in the future.

Originality/value

As a first-hand account, this study is original.

Details

Journal of Services Marketing, vol. 33 no. 1
Type: Research Article
ISSN: 0887-6045

Keywords

Article
Publication date: 13 April 2015

Paul Sergius Koku

The study aims to examine consumer attitudes toward offshore-outsourcing of professional services in the USA. It focuses on the services of accountants, attorneys and doctors to…

Abstract

Purpose

The study aims to examine consumer attitudes toward offshore-outsourcing of professional services in the USA. It focuses on the services of accountants, attorneys and doctors to provide a framework for discussing policy and marketing implications.

Design/methodology/approach

The study reviews a review of the literature on consumer decision-making under uncertainty and attitude formation, and a focus group study to examine consumers’ attitudes toward offshore-outsourcing of professional services.

Findings

Contrary to reports in the popular press, this paper suggests that consumers do not have a generalized negative attitude toward offshore-outsourcing of all forms of professional services. While consumers do not mind offshore-outsourcings of the services of medical doctors and attorneys, they seem to be concerned about offshore-outsourcings of accounting or financial services. These results suggest that persons engaged in offshore-outsourcings of tax and other related services must re-strategize.

Research limitations/implications

While the results of this study offer a window into the US consumers’ feelings about offshore-outsourcings of professional services, the results lack generalizability, as they are based on an exploratory study.

Practical implications

Even though outsourcing has received a lot of media attention and some limited attention from academics, no study, to the best of the authors’ knowledge, has specifically investigated US consumers’ attitudes toward offshore-outsourcings of professional services. Given the fact that the trend is growing instead of abating, a study, such as the current one, that investigates how consumers feel about the practice is not only timely but will also provide valuable information to managers for strategy reformulation and to lawmakers for regulation purposes.

Originality/value

This paper, to the best of the authors’ knowledge, is the first to specifically examine consumer attitude toward offshoring of the basic professional services – the services of doctors, accountants and attorneys.

Details

Journal of Services Marketing, vol. 29 no. 2
Type: Research Article
ISSN: 0887-6045

Keywords

Article
Publication date: 1 March 1995

Paul Sergius Koku

Alpert et al.′s (1993) study on the relationship betweenobjective product quality and price is both interesting and important.It continues the tradition of “borrowing” relevant…

1517

Abstract

Alpert et al.′s (1993) study on the relationship between objective product quality and price is both interesting and important. It continues the tradition of “borrowing” relevant theories from other disciplines to explicate problems faced in marketing. However, some issues raised regarding price signaling and quality need to be discussed further. In addition to information asymmetry, other conditions are necessary to ensure signaling equilibrium. A signal must be both information revealing and such that it cannot be mimicked. These conditions are, however, absent in the Alpert et al. (1993) study, leading to the conclusion price, as cited in the study, was not a signal of quality, rather it was an important strategic tool. Hence, the important lessons from the study are: we must exercise caution when “borrowing” theories from other disciplines to explicate marketing problems; and we are reminded that for a marketing strategy to be effective and successful, it is essential that the strategic elements be consistent and cohesive.

Details

Journal of Consumer Marketing, vol. 12 no. 1
Type: Research Article
ISSN: 0736-3761

Keywords

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