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Article
Publication date: 30 November 2022

Daniel Gilcher

This paper aims to provide a novel explorative perspective on fund managers’ decisions under uncertainty. The current COVID pandemic is used as a unique reference frame to study…

Abstract

Purpose

This paper aims to provide a novel explorative perspective on fund managers’ decisions under uncertainty. The current COVID pandemic is used as a unique reference frame to study how heuristics are used in institutional financial practice.

Design/methodology/approach

This study follows a grounded theory approach. A total of 282 diverse publications between October 2019 and October 2020 for 20 German mutual funds are qualitatively analyzed. A theory of adaptive heuristics for fund managers is developed.

Findings

Fund managers adapt their heuristics during a crisis and this adaptive process flows through three stages. Increasing complexity in the environment leads to the adaption of simplest heuristics around investment decisions. Three distinct stages of adaption: precrisis, uncertainty and stabilization emerge from the data.

Research limitations/implications

This study’s data is based on publicly available information. There might be a discrepancy between publicly stated and internal reasoning.

Practical implications

Money managers can use the provided framework to assess their decision-making in crises. The developed adaptive processes of heuristics can assist capital allocators who choose and rate fund managers. Policymakers and regulators can learn about the aspects of investor decisions that their actions and communication address. Teaching can use this study to exemplify the nature of financial markets as adaptive systems rather than static structures.

Originality/value

To the best of the author’s/authors’ knowledge, this study is the first to systematically explore the heuristics of professional money managers because they navigate a large-scale exogenous crisis.

Details

Qualitative Research in Financial Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1755-4179

Keywords

Article
Publication date: 16 October 2023

Hazem Aldabbas, Ashly Pinnington, Abdelmounaim Lahrech and Lama Blaique

This study aims to investigate the relationship between extrinsic rewards and employee creativity through the intervening mechanism of perceived organisational support (POS) and…

Abstract

Purpose

This study aims to investigate the relationship between extrinsic rewards and employee creativity through the intervening mechanism of perceived organisational support (POS) and work engagement. The moderating role of intrinsic motivation on the relationship between work engagement and employee creativity is also examined.

Design/methodology/approach

The authors report the results of a survey completed by 372 respondents employed in the United Arab Emirates. Structural equation modelling was applied to test the hypothesised relationships.

Findings

The main findings are that extrinsic rewards influence employee creativity through POS and work engagement. Moreover, the effect of work engagement on employee creativity is moderated by intrinsic motivation. This model effect is stronger for employees with high intrinsic motivation.

Research limitations/implications

Convenience sampling was used, which limits its generalisability. Also, the data were collected through a cross-sectional survey at one point in time.

Practical implications

Managers should consider provision of extrinsic rewards and support to increase employee motivation and engagement in creative work.

Originality/value

This study contributes to the limited amount of available literature on creativity and rewards adding to our knowledge about the influence of extrinsic rewards on creativity considered in the presence of intrinsic motivation. Theoretical and practical recommendations are discussed.

Details

International Journal of Innovation Science, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1757-2223

Keywords

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