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1 – 10 of 450This review shows the systematic and bibliometric review of 361 papers on the impact of corporate social responsibility on firm performance from 2013 to 2023. The aim of this…
Abstract
This review shows the systematic and bibliometric review of 361 papers on the impact of corporate social responsibility on firm performance from 2013 to 2023. The aim of this review is to research the development trends of women’s financial inclusion and women’s financial literacy during this period. The outcomes show that the issue of women’s financial literacy and women’s financial inclusion is particularly highlighted by scholars since 2019, especially for 2021 and 2022. This review focusses on two aspects of analysis: publish performance and content. In terms of published performance analysis, the publication information of papers is analysed to understand the publication trends and author’s research trends in this decade, and bibliometric maps are generated using VOS-viewer software. The bibliometric map shows that India and the USA are in the middle of the map which shows that the authors from these two nations have strong correlations with other authors. For the content analysis, we used VOS-viewer software to analyse the content of the title and abstract, the outcomes reveal three main streams about financial literacy and financial inclusion for women, especially in rural regions in developing economics and the suggestions for policymakers and government. This review attempts to cover the systematic and bibliometric analysis by presenting findings through analysis of selected papers, which highlights some possible gaps and opportunities in the literature along with a scope of directions for future research.
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Positive-framed and negative-framed messages were delivered to examine the effect of framing on intertemporal decisions through lab experiments while holding the level of…
Abstract
Positive-framed and negative-framed messages were delivered to examine the effect of framing on intertemporal decisions through lab experiments while holding the level of financial literacy constant. The three big questions adopted by Lusardi and Mitchell were utilized to assess the financial literacy of our subjects before they were asked to complete 20 incentivized intertemporal decisions. A small, delayed reward and a slightly bigger one were incorporated into the intertemporal decisions with a delay of 30 days. The ordinary least square (OLS) shows that the negative relationship between financial literacy and discount rates was held when the delayed reward was small. Interestingly, when the delayed reward became slightly bigger, their discount rates were reduced significantly with the negatively framed message. These findings suggest that the negatively framed message can motivate individuals to save for a greater return in the real world. Lastly, subjects with the highest level of financial literacy were not responsive to the magnitude effect, proving that a financial literacy program is essential to strengthen the individual's financial plan and reduce their discount rates in the developing country context.
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T.P. Arjun and Rameshkumar Subramanian
This paper aims to analyse how financial literacy (FL) is conceptualised and operationalised in the Indian context.
Abstract
Purpose
This paper aims to analyse how financial literacy (FL) is conceptualised and operationalised in the Indian context.
Design/methodology/approach
A systematic literature review (SLR) was conducted using the Preferred Reporting Items for Systematic Reviews and Meta-analyses (PRISMA) protocol. Thirty-six articles published between 2010 and 2020 were considered for analysis. The FL conceptualisation was examined based on knowledge, ability, skill, attitude and confidence elements. The FL operationalisation was analysed using the modified version of the Organisation for Economic Co-operation and Development’s (OECD) Programme for International Student Assessment (PISA) 2012 model for organising the domain for an assessment framework.
Findings
The findings indicate that, despite offering operationalisation details of the FL, 13 out of 36 studies did not include a conceptual definition of FL. Of the 23 studies that mentioned a conceptual definition, 87% are primarily focused on the “knowledge” element and only 39% have combined knowledge, ability/skill and attitude elements in defining FL. As in the developed countries, the Indian studies also preferred investment/saving-related contents in their FL measures. The volume of content focusing on the financial landscape is meagre amongst the FL measures used in India and developed countries. The survey instruments of most studies have been designed in the individuals’ context but have failed to measure the extent to which individuals apply the knowledge in performing their day-to-day financial transactions. Further, it was found that 20 out of 36 studies did not convert the FL level of their target groups into a single indicator or operational value.
Originality/value
To the best of our knowledge, this is the first study that explores the FL’s assessment practices in India. Further, this study offers new insights by comparing the contents of FL measures used in Indian studies with those used in developed countries.
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Sneha Badola, Aditya Kumar Sahu and Amit Adlakha
This study aims to systematically review various behavioral biases that impact an investor’s decision-making process. The prime objective of this paper is to thematically explore…
Abstract
Purpose
This study aims to systematically review various behavioral biases that impact an investor’s decision-making process. The prime objective of this paper is to thematically explore the behavioral bias literature and propose a comprehensive framework that can elucidate a more reasonable explanation of changes in financial markets and investors’ behavior.
Design/methodology/approach
Systematic literature review (SLR) methodology is applied to a portfolio of 71 peer-reviewed articles collected from different electronic databases between 2007 and 2021. Content analysis of the extant literature is performed to identify the research themes and existing gaps in the literature.
Findings
This research identifies publication trends of the behavioral biases literature and uncovers 24 different biases that impact individual investors’ decision-making. Through thematic analysis, an attribute–consequence–impact framework is proposed that explains different biases leading to individual investors’ irrationality. The study further proposes directions for future research by applying the theory–characteristics–context–methodology framework.
Research limitations/implications
The results of this research will help scholars and practitioners in understanding the existence of various behavioral biases and assist them in identifying potential strategies which can evade the negative effects of these biases. The findings will further help the financial service providers to understand these biases and improve the landscape of financial services.
Originality/value
The essence of the current paper is the application of the SLR method on 24 biases in the area of behavioral finance. To the best of the authors’ knowledge, this study is the first attempt of its kind which provides a methodical and comprehensive compilation of both cognitive and emotional behavioral biases that affect the individual investor’s decision-making.
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Hernan Ramirez-Asis, Jorge Castillo-Picon, Jenny Villacorta Miranda, José Rodríguez Herrera and Walter Medrano Acuña
Financial inclusion in Peru has been addressed through coverage, quality of financial services, movement of transactions, and service points. The purpose of this chapter is to…
Abstract
Financial inclusion in Peru has been addressed through coverage, quality of financial services, movement of transactions, and service points. The purpose of this chapter is to evaluate for the department of Ancash, Peru, the link between financial inclusion and its socioeconomic factors. Socioeconomic variables and financial inclusion of the Ancash department of the National Household Survey are taken as indicators, later contrasted through the logit model, with the financial inclusion variable being the explained variable.
There is evidence of positive and negative relationships between financial inclusion and socioeconomic variables; these are important components for planning financial inclusion. Raising the levels of formal employment, the educational level and considering the area of residence would be a strategy to generate a dynamic of inclusion in the department of Ancash.
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Barkha Dhingra, Mahender Yadav, Mohit Saini and Ruhee Mittal
This study aims to conduct a bibliometric analysis to provide a comprehensive picture and identify future research directions to enrich the existing literature on behavioral…
Abstract
Purpose
This study aims to conduct a bibliometric analysis to provide a comprehensive picture and identify future research directions to enrich the existing literature on behavioral biases.
Design/methodology/approach
The data set comprises 518 articles from the Web of Science database. Performance analysis is used to highlight the significant contributors (authors, institutions, countries and journals) and contributions (highly influential articles) in the field of behavioral biases. In addition, network analysis is used to delve into the conceptual and social structure of the research domain.
Findings
The current review has identified four major themes: “Influence of behavioral biases on investment decisions,” “Determinants of home bias,” “Impact of biases on stock market variables” and “Investors’ decision-making under uncertainty.” These themes reveal that a majority of studies have focused on equity markets, and research on other asset classes remains underexplored.
Research limitations/implications
This study extracted data from a single database (Web of Science) to ensure standardization of results. Consequently, future research could broaden the scope of the bibliometric review by incorporating multiple databases.
Originality/value
The novelty of this research is to provide valuable guidance by evaluating the existing literature and advancing the knowledge base on the conceptual and social structure of behavioral biases.
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Sumit Oberoi, Pooja Kansra and Vedica Awasthi
Neuromarketing is a marketing communication field that applies neuroscience and physiological research tools to study consumer behavior toward stimuli, viz., ads and brands. This…
Abstract
Neuromarketing is a marketing communication field that applies neuroscience and physiological research tools to study consumer behavior toward stimuli, viz., ads and brands. This study aims to assess research trends in the neuromarketing field on the most influential journals, authorships, countries, citations and co-occurrences. The Scopus database is used to analyze identified articles from 2013 to 2022 and for the eligible research articles, a “systematic methodological review” (SMR) on consumer behavior through neuromarketing approach was done. “Visualization of Science (VOS)” viewer and “Biblioshiny” by R-studio software have been used for mapping the keyword analysis, co-citation analysis and author occurrence analysis. It was further found that of the top 10 academic institutions, the list is dominated by the six Asian institutions. It was further witnessed that journal “Physiology and Behavior” is trending as the most dedicated and emerging journals on neuromarketing and consumer behavior. Asian nations such as Bangladesh, China, India, Indonesia, etc., are turning out to be an emerging collaborators and publishers in this niche area of research, thereby giving tough competition to most developed countries. The findings of the thematic mapping show that neuromarketing is itself a very novel and newest area of study and topics such as “human marketing,” “neuromarketing,” “consumer behavior” and “electroencephalography” are new dimensions that can be looked upon in future.
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Hardeep Singh Mundi and Shailja Vashisht
This paper aims to review, systematize and integrate existing research on disposition effect and investments. This study conducts bibliometric analysis, including performance…
Abstract
Purpose
This paper aims to review, systematize and integrate existing research on disposition effect and investments. This study conducts bibliometric analysis, including performance analysis and science mapping and thematic analysis of studies on disposition effect.
Design/methodology/approach
This study adopted a thematic and bibliometric analysis of the papers related to the disposition effect. A total of 231 papers published from 1971 to 2021 were retrieved from the Scopus database for the study, and bibliometric analysis and thematic analysis were performed.
Findings
This study’s findings demonstrate that research on the disposition effect is interdisciplinary and influences the research in the domain of both corporate and behavioral finance. This review indicates limited research on cross-country data. This study indicates a strong presence of work on investor psychology and behavioral finance when it comes to the disposition effect. The findings of thematic analysis further highlight that most of the research has focused on prospect theory, trading strategies and a few cognitive and emotional biases.
Practical implications
The findings of this study can be used by investors to minimize their biases and losses. The study also highlights new techniques in machine learning and neurosciences, which can help investment firms better understand their clients’ behavior. Policymakers can use the study’s findings to nudge investors’ behavior, focusing on minimizing the effects of the disposition effect.
Originality/value
This study has performed the quantitative bibliometric and thematic analysis of existing studies on the disposition effect and identified areas of future research on the phenomenon of disposition effect in investments.
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Muhammad Ali, Leong Choi-Meng, Eugene Cheng-Xi Aw, Chin-Hong Puah and Abdulkadir Barut
This study aims to examine the interconnectedness between investors' perceptions of assets and their behavioral factors with investment decisions during the COVID-19 pandemic in…
Abstract
Purpose
This study aims to examine the interconnectedness between investors' perceptions of assets and their behavioral factors with investment decisions during the COVID-19 pandemic in the real estate business in Pakistan. In this regard, this study predicted investment decisions using individuals’ perceptions of the asset (perceived asset quality, perceived asset price and perceived asset value [PAV]),and behavioral biases (overconfidence [OC], herding [HD], disposition effect [DE] and risk aversion [RA]).
Design/methodology/approach
This study used a survey-based instrument to gather a total of 189 usable samples. The sample data were analyzed using partial least square structural equation modeling.
Findings
The findings of this study indicated that PAV, OC and HD significantly predicted the investment decision, whereas DE and RA had an insignificant impact on investment decisions in the real estate business. In addition, this study found that PAV is the most important factor to predict investment decisions in real estate during the COVID-19 crisis.
Originality/value
The authors are certain that the study findings reinforce policy implications for regulators, policymakers and financial institutions. The study findings are also useful and relevant if the real estate sector experiences a crisis in the future.
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Naveed R. Khan, Muhammad Rahies Khan, Wasim Ahmad and Rana Muhammad Sohail Jafar
The environmental performance of organizations has come under public policy limelight since the phenomenal increase of natural resource degradation and industrial waste. Thus…
Abstract
The environmental performance of organizations has come under public policy limelight since the phenomenal increase of natural resource degradation and industrial waste. Thus, green concepts have been put forward, but the implementation of green practices faces many barriers and challenges. These barriers require attention as organizational practices are negatively affecting the environment leading to global warming and climate change. Therefore, this chapter systematically identifies four internal barriers including inadequate management commitment and support, insufficient technology competence and infrastructure, financial constraints, the uncertainty of economic benefits, and eight sub barriers within an organization concerning green concepts implementation. Moreover, this chapter also identifies four external barriers including lack of stakeholder's interest, inadequate environmental administrative support, scarce academic research, and lack of green collaborative practices, and eight sub barriers outside an organizational context concerning green concept implementation. The barriers in this research were identified by reviewing the existing literature on the topic. This chapter advances the green literature by identifying multiple barriers and challenges to the successful implementation of green concepts in organizations. This is of significance as if these barriers are tackled strategically, it would reduce environmental degradation problems and help make financial gains. Moreover, this research can help managers understand the key barriers to green concept implementation and provide guidance to them when attempting to implement green practices in their organizations. This research would also motivate researchers to extend further investigation on how to overcome such barriers and find out strategies to mitigate the barriers to green concept implementation to effectively address environmental issues.
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