Search results
1 – 10 of 32Thanyawee Pratoomsuwan and Yingyot Chiaravutthi
Recent research finds that the effect of corporate social responsibility (CSR) information, especially when CSR is not related to core business activities (immaterial CSR issues)…
Abstract
Purpose
Recent research finds that the effect of corporate social responsibility (CSR) information, especially when CSR is not related to core business activities (immaterial CSR issues), on investment decisions will be eliminated when it is explicitly assessed. As CSR expectations from investors appear to be different across specific cultures and countries (Van der Laan Smith et al., 2010), we aim to investigate (1) the effect of CSR materiality on investors' willingness to invest and (2) how the explicit assessment of CSR information moderates the effect of explicit assessment and CSR materiality on investment judgment by professional investors in Thailand.
Design/methodology/approach
A 2 × 2 between-subject experiment was conducted based on 136 professional investors.
Findings
Overall, the results suggest that an investor's willingness to invest is greater when CSR is material than when CSR is immaterial. In addition, the assessment of willingness to invest in a firm's stock is not affected by the presence or absence of explicit assessment of the material CSR. However, the results suggest that when CSR issues are immaterial, explicit assessment significantly removes the effect of CSR performance on the investor's investment judgment. Consistent with the findings from Guiral et al. (2019), professional investors seem to process CSR information in a similar way as nonprofessional investors.
Practical implications
The findings suggest that material CSR information has a significant impact on the investment decisions of professional investors. This is consistent with the materiality guidance provided by the Sustainability Accounting Standard Board (SASB) as helpful in improving the value of CSR information for investors. These results should be of interest to both business people and regulators because, despite differences in the cultural and audit environment, the results confirm that professional investors in Thailand use CSR information in an experimental setting, thereby providing some evidence of value creation from CSR activities and nonfinancial disclosures.
Originality/value
While recent experimental research has primarily examined how nonprofessional investors evaluate CSR information in Western countries, this study extends the literature by focusing on professional investors in emerging capital markets and how they use CSR information in their investment decisions (Coram et al., 2009). The study also addresses the call for research on differences in CSR reporting and practices in different cultures and countries (Van der Laan Smith et al., 2010; Coram et al., 2009) to provide insights into how professional investors in Thailand use CSR information to formulate investment judgments.
Details
Keywords
Alessio Trentin, Thomas Aichner, Enrico Sandrin and Cipriano Forza
The operational capability of mass customization (MC) allows consumers to obtain products tailored to their idiosyncratic needs. This study aims to provide insights into the…
Abstract
Purpose
The operational capability of mass customization (MC) allows consumers to obtain products tailored to their idiosyncratic needs. This study aims to provide insights into the potential of this capability for countering a product's liability of foreignness – the negative effect of the out-group status of a product's country of origin (COO) on consumers' evaluations of the product.
Design/methodology/approach
Based on the social identity approach, it is hypothesized that this liability is reduced when a consumer product is mass-customized rather than standardized as per a mass-production strategy. This hypothesis is tested using a mixed between- and within-subject experiment.
Findings
When evaluating mass-produced sneakers, native German-speaking (Italian-speaking) South Tyrolean consumers rated the quality of Italian (German) sneakers significantly lower than that of German (Italian) sneakers. However, when the sneakers were mass-customized, this difference in perceived product quality was non-significant for both groups of consumers, supporting the research hypothesis.
Research limitations/implications
Future research could replicate this study in other samples, with other product types, COOs and countries of destination, as well as at different degrees of product customization.
Practical implications
Business-to-consumer firms contemplating the development of their MC capability are made aware that the benefits of this operational capability might go beyond the typical advantages highlighted by the existing literature.
Originality/value
This paper joins the discussion on MC value by offering a theoretical explanation and empirical support for another mechanism through which the operational capability of MC can create value, at least in business-to-consumer industries: by countering a product's possible liability of foreignness and thus increasing perceived product quality in export markets.
Details
Keywords
Thabo J. Gopane, Noel T. Moyo and Lesego F. Setaka
Stirred by scant regard for market phases in portfolio performance assessments, the current paper investigates the active versus passive investment strategies under the bull and…
Abstract
Purpose
Stirred by scant regard for market phases in portfolio performance assessments, the current paper investigates the active versus passive investment strategies under the bull and bear market conditions in emerging markets focusing on South Africa as a case study.
Design/methodology/approach
Methodologically, the measures of Jensen's alpha and Treynor index are applied to the monthly returns of 20 funds from January 2010 to June 2022.
Findings
The results are enlightening; though they contradict developed market evidence, they are consistent with emerging market trends. The findings show that actively managed funds outperform the market benchmark and passive investing style under bear and normal market conditions. Passive investment strategy outperforms both market benchmark and actively investing style under bull market conditions.
Practical implications
In the face of improved market efficiency, increased liquidity and recent technological impact, the findings of this study have practical application. The study outcomes should inform and update global investors, especially asset managers interested in emerging markets; however, the limitations of the study should also be considered.
Originality/value
While limited studies consider market conditions when comparing and contrasting the performance of passive versus active investing, such consideration is lacking in emerging markets. The current study corrects this literature imbalance.
Details
Keywords
Antonio Iudici, Miriam Stefano and Davide Binato
This study aims to provide an overview of studies concerning bias in law, particularly in judges’ decisions. The authors intend to bring to light the factors that can most…
Abstract
Purpose
This study aims to provide an overview of studies concerning bias in law, particularly in judges’ decisions. The authors intend to bring to light the factors that can most frequently lead to unequal decisions to enable judges to better perform their function.
Design/methodology/approach
A literature review was used as a methodology based on studies involving judges and juries.
Findings
The evidence reported by this review suggests how difficult the judge’s job is and how they can be unconsciously influenced by inferences, deductions and biases. The results show that the pleasantness of the witness and the confidence they exhibit during testification are crucial factors in influencing the decisions of judges and jurors. From these studies, it can be assumed that different personal aspects – smiling, pleasantness and the witness’s credibility – can be positively associated with each other, which could compromise the ongoing evaluation. Gender is another factor that can influence evaluations; in fact, witnesses are evaluated based on their own “gender” as well as that of the jurors. Another essential factor is self-confidence. Also, the age of both of the judge and of the witness can be a factor that influences decisions in court. Other factors such as communication effectiveness, degree of accuracy of reported information and non-verbal behaviour were also found to be important.
Research limitations/implications
Among the limitations of this research, the authors have to consider the low number of available research and that the most of these derive from a specific cultural context – the American one. There may also be limits to the way in which certain concepts are used in different parts of the world, particularly through a very broad construct, such as the credibility of witness.
Practical implications
This study highlights which inferences and biases can characterise decision-making processes and, above all, highlights the need for specific training courses aimed at managing the many processes involved in influencing human decisions.
Social implications
The authors believe that this work can raise awareness about the series of unconscious reasoning that may happen in the legal field, which has a major impact on people’s lives and on the general perception of justice.
Originality/value
In this research, the authors have considered some of the criteria that may intervene in the evaluation of witnesses, those present in the current scientific literature. From the research, it seems appropriate and necessary to provide judges with adequate training aimed at the recognition of their cognitive processes and bias. In fact, when they were made aware of them, they were less affected by bias, resulting in more objective and limiting improper inferences.
Details
Keywords
Thanh-Thu Vo, Quynh Hoa Le and Linh N.K. Duong
This study investigates the role of social media brand posts on customer response and whether said impacts foster engagement in brand co-creation behaviors, especially in the…
Abstract
Purpose
This study investigates the role of social media brand posts on customer response and whether said impacts foster engagement in brand co-creation behaviors, especially in the higher education sector. The study further explores the moderating role of a university's reputation in strengthening the effects on student response and co-creation behaviors.
Design/methodology/approach
The authors conducted this research by using the dual processes of the heuristic–systematic model to understand the effects of brand post‐characteristics on student’s responses and behaviors. A dataset obtained from a survey of 755 students was employed to estimate the proposed research model.
Findings
The results illustrated two key characteristics of brand posts, namely argument quality (systematic processing) and quantity of posts (heuristic processing), positively affect cognitive and affective responses, thus encouraging students to co-create value for a university brand. Moreover, our study also found that university reputation plays a significant moderating role in strengthening the relationship between recipients’ responses and co-creation behavior.
Originality/value
Online brand posts not only enable institutions to exchange brand information but also allow students to contribute their own resources to co-create brand value. Thus, the study findings can help brand managers successfully implement co-branding efforts and foster students in the co-creation process.
Details
Keywords
Aaker’s brand personality scale (BPS) published in 1997 has revived hitherto sluggish interest in brand personality research. With time, the BPS, most cited work in brand…
Abstract
Purpose
Aaker’s brand personality scale (BPS) published in 1997 has revived hitherto sluggish interest in brand personality research. With time, the BPS, most cited work in brand personality, also faced criticism across dimensions. This paper aims to review the popular journals published after 1997 for criticism related to BPS.
Design/methodology/approach
Papers using Aaker’s BPS without change/with change are identified and scrutinized for reasons for the usage of BPS. Papers on brand personality that have avoided BPS are also scrutinized for reasons of avoidance. Independent efforts of understanding brand personality without Aaker’s framework are also reviewed. In-depth study of all these papers is done to report the criticism of Aaker’s BPS.
Findings
This review identifies the criticism of BPS and classifies it across six categories – definition, dimension, methodology, concept, words and generalizability related criticism. This paper argues that some issues such as definition, conceptual understanding of brand personality and methodology used to develop BPS need further attention of scholars. On the other hand, issues of dimensions, words used and generalizability can be attributed to evident reasons, such as culture and meaning given to words because of native language.
Originality/value
This criticism and interest in Aaker’s BPS are unprecedented. It has been 20 years since BPS was published. Many scholars have countered the Aaker’s BPS through their work; however, a comprehensive review covering all criticisms and issues of BPS is still missing in literature. This paper is filling this gap in literature.
Objetivo
La Escala de Personalidad de Marca de Aaker fue publicada en 1997 y desde entonces ha motivado el interés por la investigación de la personalidad de la marca. Con el tiempo, esta escala se ha convertido en la más citada, pero también ha sido objeto de crítica. Este artículo revisa las principales críticas a la escala desde su publicación en 1997.
Diseño/metodología/enfoque
Se analizaron los artículos que utilizaron la escala de personalidad de marca de Aaker sin cambios o con cambios y los motivos de uso. Se examinaron los trabajos que evitaron utilizar la escala y las razones argumentadas. También se analizaron los esfuerzos realizados para comprender la personalidad de marca al margen de este enfoque. El análisis en profundidad de todos estos trabajos permitió sintetizar las principales críticas vertidas hacia la escala de personalidad de marca de Aaker.
Resultados
Las críticas a la escala de personalidad de marca fueron clasificadas en seis categorías - Definición, Dimensión, Metodología, Concepto, Palabras utilizadas y Capacidad de generalización. El artículo argumenta que algunas cuestiones como la definición, la comprensión conceptual de la personalidad de la marca y la metodología utilizada para desarrollar la escala requieren mayor atención por parte de los académicos. Por otra parte, los problemas relacionados con las dimensiones, las palabras utilizadas y la capacidad de generalización pueden atribuirse a razones evidentes como la cultura, diferente significado de las palabras en distintos países, etc.
Originalidad/valor
Las críticas e interés generado por la escala de personalidad de marca de Aaker no tienen precedentes. Han pasado 20 años desde su publicación y son muchos los investigadores han vertido sus críticas específicas. Sin embargo, en la literatura se echa en falta algún trabajo que revise todas estas críticas de forma integrada. Este artículo pretende cubrir este vacío en la literatura.
Details
Keywords
Marcelo Moll Brandão, Arthur França Sarcinelli, Ananda Bisi Barcelos and Luiza Postay Cordeiro
This study aims to understand customer’s assessments of neighborhood stores during the COVID-19 pandemic through the influence of in-store environmental factors on patronage…
Abstract
Purpose
This study aims to understand customer’s assessments of neighborhood stores during the COVID-19 pandemic through the influence of in-store environmental factors on patronage intention.
Design/methodology/approach
Online survey with 528 participants about the last shopping trip in neighborhood retail. The authors performed data analysis using structural equation modeling techniques.
Findings
High-perceived spatial crowding negatively influences shopping experience value perceptions, while human crowding influences patronage intentions through increased perceived hedonic value.
Research limitations/implications
Results suggest that purchase experience at well-known neighborhood stores during a sanitary crisis is becoming less convenience-oriented and a substitute for leisure activities due to social distancing.
Practical implications
The findings elucidate the social function of neighborhood convenience retailing during the COVID-19 pandemic. The results emphasize that a pleasant shopping experience arising from a good relationship with shopkeepers and other customers is more influential on patronage intention than a good product assortment and store layout.
Social implications
This paper contributes to the survival of small neighborhood businesses during the financial crisis installed due to Covid-19 by helping businesses become more attractive to their consumers and competitive in the new context.
Originality/value
The combined context of the health crisis due to COVID-19 and neighborhood retail of an emerging country raises the need for tests to better understand established marketing theories. Based on this rationale, this work intends to replicate and extend selected previous findings to the new environment dictated by the pandemic.
Details
Keywords
Peter C. Verhoef, Corine S. Noordhoff and Laurens Sloot
The Covid-19 pandemic has a strong effect on societies, business and consumers. Governments have taken measures to reduce the spread of the pandemic, such as social distancing and…
Abstract
Purpose
The Covid-19 pandemic has a strong effect on societies, business and consumers. Governments have taken measures to reduce the spread of the pandemic, such as social distancing and lockdowns. The latter has also resulted in a temporary closure of physical stores for “non-essential” retailing. Covid-19 thus has a profound impact on how people live. The period of relative isolation, social distancing and economic uncertainty changes the way we behave. New consumer behaviors span all areas of life, from how we work to how we shop to how we entertain ourselves. These shifts have important implications for retailers. This paper aims to discuss the potential structural effect on shopping behavior and retailing when Covid-19 measures are no longer needed and society moves back to a normal situation.
Design/methodology/approach
The paper synthesizes empirical and conceptual literature on the consequences of COVID-19 and introduces a conceptual framework along with a set of predictions that can be investigated with empirical data.
Findings
This study suggests that Covid-19 shapes both consumer needs and behavior and how retailers respond to these changes. Moreover, it suggests that this will not only affect market outcomes (i.e. retail sales and market share online) but also firm outcomes (i.e. customer experience, firm sales) and importantly the competition between online and offline retailers.
Originality/value
In the conceptual framework, this study aims to advance knowledge on longer-term outcomes (vs immediate outcomes such as panic buying) and how COVID-19 is changing the competitive landscape of retail.
Details
Keywords
Wojciech Trzebinski, Piotr Gaczek and Beata Marciniak
This paper aims to investigate the effect of product-related description abstractness/concreteness on perceived trustworthiness and the role of consumer product expertise and…
Abstract
Purpose
This paper aims to investigate the effect of product-related description abstractness/concreteness on perceived trustworthiness and the role of consumer product expertise and shopping-stage mindset in the persuasiveness of abstract vs concrete product descriptions.
Design/methodology/approach
Two online experiments were conducted: Study 1 (description abstractness – manipulated between-subject; consumer product expertise, perceived trustworthiness, purchase intent – measured), Study 2 (consumer shopping-stage mindset – manipulated between-subject; description abstractness – manipulated within-subject; consumer product expertise, perceived trustworthiness, abstract/concrete description preference – measured).
Findings
The negative effect of the abstractness (abstract descriptions vs the ones supplemented with relevant product details) on description trustworthiness was evidenced in Study 1. Trustworthiness was positively related to purchase intent, especially for high product expertise. Study 2 replicated the effect of product description abstractness on its trustworthiness in terms of two other forms of abstractness (abstract descriptions vs the ones supplemented with irrelevant product details and product benefits vs attributes). The goal-oriented (vs comparative) mindset had a positive effect on the benefit (vs attribute) description preference, especially for high product expertise.
Practical implications
For marketers, the results suggest the positive consequences of presenting concrete information on product attributes and the conditions enhancing the effectiveness of presenting product benefits.
Originality/value
The paper integrates the existing views on consumer response to abstract vs concrete information (lexical abstractness/concreteness, means-end chain theory) and links them to consumer product expertise and shopping-stage mindset.
Details