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Book part
Publication date: 26 March 2024

Ekrem Tufan, Merve Aycan and Bahattin Hamarat

Introduction: When people need to take decisions, being economic decisions or otherwise, their decisions tend to rely on information the brain has already processed, and this…

Abstract

Introduction: When people need to take decisions, being economic decisions or otherwise, their decisions tend to rely on information the brain has already processed, and this includes the resources that the person has already invested. This is called sunk cost bias in the behavioural economics literature. On the other hand, mental practices could lead to the mental accounting bias, where people allocate a different value to a fixed amount of money, depending on circumstances.

Purpose: In this chapter, both biases mental accounting and sunk cost are investigated for the tourism industry in Turkey.

Methodology: The topic is researched through scenario-based questions and the Chi-square Automatic Interaction Detector (CHAID) method is applied.

Findings: As a result, it could be reported that people, regardless of gender, fall into sunk cost and mental accounting biases in decisions relating to their vacations. Mental accounting biases can be primarily explained using the scenario questions posed rather than gender, education, and income while sunk cost bias is explained by status, ‘being s university student’ and ‘income level’.

Practical implications: Rapid price changes in the tourism industry can disturb consumers who are mental accounting and sunk cost biased. So, they can change their holiday preferences or be dissatisfied with it and give negative feedback.

Details

The Framework for Resilient Industry: A Holistic Approach for Developing Economies
Type: Book
ISBN: 978-1-83753-735-8

Keywords

Book part
Publication date: 26 March 2024

Neha Verma

Purpose: This chapter is based on risk management of the insurance sector with reinsurance as its linchpin. Such is the importance of the insurance sector that its risk management…

Abstract

Purpose: This chapter is based on risk management of the insurance sector with reinsurance as its linchpin. Such is the importance of the insurance sector that its risk management must be considered.

Need for the study: Risk management of various sectors is gaining much attention. The insurance sector, known to manage the risk of multiple sectors, also requires its own chance to be controlled with the same or even more intensity. Considering the importance of reinsurance coupled with the dependency of primary insurers on reinsurers and the absence of research on reinsurers, the need to conduct a comprehensive study on the topic is felt.

Methodology: It will be a conceptual chapter based on the rigorous literature on the topic integrated with the researcher’s insights to bring forth the framework of reinsurers for the readers.

Findings: It is found that insurers can themselves become the victims of the financial crisis in case they insure risks that surpass their economic boundaries. Not only this, the failure of insurance companies can have a ripple effect on the country’s economy. Therefore, insurers must possess financial resilience; to remain so, they need to have prudent management of the risk they are undertaking.

Practical implications: The study covers a relatively less researched area of reinsurance and hence has a vast scope of research in the future. The study would be helpful to stakeholders like regulators and primary insurers. It will unveil the paradigm of reinsurance and enlighten the stakeholders on how to use it effectively.

Details

The Framework for Resilient Industry: A Holistic Approach for Developing Economies
Type: Book
ISBN: 978-1-83753-735-8

Keywords

Article
Publication date: 6 November 2023

Simon D. Norton

This study aims to evaluate the advantages and disadvantages of auditor mandatory suspicious activity reporting versus the exercise of professional judgement in the anti-money…

Abstract

Purpose

This study aims to evaluate the advantages and disadvantages of auditor mandatory suspicious activity reporting versus the exercise of professional judgement in the anti-money laundering regimes of the UK and the USA.

Design/methodology/approach

The research draws upon the following sources. Firstly, statistics provided by the UK National Crime Agency, 2019 (NCA) regarding suspicious activity report (SAR) filing rates. Secondly, anti-money laundering legislation in the USA and UK. Thirdly, statements made in the political domain in the USA, particularly those which raised constitutional concerns during the progress of the Patriot Act 2001. Finally, statements and recommendations by a UK Parliamentary Commission enquiring into the effectiveness of the suspicious activity reporting regime.

Findings

The UK reporting regime does not accommodate professional judgement, resulting in the filing of SARs with limited intelligence value. This contrasts with discretionary reporting in the USA: voluntary reporting guides and influences auditor behaviour rather than mandating it. Defensive filing by UK auditors (defence to anti-money launderings [DAMLs]) has increased in recent years but the number of SARs filed has declined.

Originality/value

The study evaluates auditor behavioural responses to legislative regimes which mandate or alternatively accommodate discretion in the reporting suspicion of money laundering. Consideration of constitutional and judicial activism in this context is a novel contribution to the literature. For its theoretical framework the study uses Foucault’s concept of discipline of the self to evaluate auditor behaviour under both regimes.

Details

Journal of Money Laundering Control, vol. 27 no. 3
Type: Research Article
ISSN: 1368-5201

Keywords

Book part
Publication date: 15 April 2024

Rohit Markan, Navneet Seth, Vishal Vinayak and Gagandeep S. Salhan

Introduction: The effectiveness of management faculty members depends on several factors, including self-efficacy. Albert Bandura coined the term ‘self-efficacy’, defined as ‘the…

Abstract

Introduction: The effectiveness of management faculty members depends on several factors, including self-efficacy. Albert Bandura coined the term ‘self-efficacy’, defined as ‘the capacity to do things as per one’s ability’ – the self-belief that one ‘can-do’ something.

Purpose: The study aims to discuss the effects of high and low degrees of self-efficacy. Faculty members with high-order competencies achieve higher positions, whereas those with low self-efficacy will generally have less self-belief in achieving success, translating into not progressing either at all or as quickly. There exists a need to study the levels of self-efficacy among faculty members to determine issues that create skill gaps and lead to both high and low efficacy. For better general performance, all faculty members should have high degrees of self-efficacy as it leads to high enthusiasm, increased commitment, and a capacity to dilute and address a range of challenges.

Methodology: This chapter falls under the category of a review paper. As different papers/studies have been reviewed and compared in this study, it does not need to conform to any particular methodology.

Findings: Various findings and practical implications shall be discussed in this chapter regarding self-efficacy among management faculty members. To improve youth’s future abilities by 2030, teachers ought to have higher levels of self-efficacy. Self-efficacy is imperative in accomplishing objectives, achieving results, and accomplishing educational difficulties in instructing understudies (Tumkaya, 2020).

Details

Contemporary Challenges in Social Science Management: Skills Gaps and Shortages in the Labour Market
Type: Book
ISBN: 978-1-83753-170-7

Keywords

Book part
Publication date: 26 March 2024

Vikas Sharma, Munish Gupta and Kshitiz Jangir

Introduction: Commercial banks play a vital role in the global economy, facilitating economic growth and providing essential financial services. As key intermediaries between…

Abstract

Introduction: Commercial banks play a vital role in the global economy, facilitating economic growth and providing essential financial services. As key intermediaries between savers and borrowers, these institutions operate in a dynamic and complex environment characterised by various risk factors that can significantly impact their profitability and overall stability. Understanding the interconnected relationships between credit risk, interest rate risk, liquidity risk, and profitability is crucial for effective risk management strategies and the development of appropriate regulatory frameworks.

Purpose: Commercial banks play a critical role in the global economy by facilitating economic growth and providing financial services. This study examines the interconnected relationships between credit risk, interest rate risk, liquidity risk, and profitability in commercial banking.

Methodology: The sample consists of licenced scheduled commercial banks on the Bombay Stock Exchange (BSE) from 2015 to 2022. Using the Smart PLS-SEM 3.0 path analysis technique, the study evaluates the combined influence of these risk factors on profitability and provides evidence-based recommendations for risk management strategies.

Findings: The findings can assist banks in enhancing their risk management practices, and regulators in developing appropriate regulatory frameworks. By understanding the key risk factors and their impact on profitability, banks and regulators can mitigate risks, enhance transparency, and promote stability within the banking sector.

Significance/value: The value of this study lies in its focus on the interconnectedness of risk factors, profitability, and the potential implications for decision-making, risk management strategies, regulatory frameworks, and the overall stability of the commercial banking sector.

Details

The Framework for Resilient Industry: A Holistic Approach for Developing Economies
Type: Book
ISBN: 978-1-83753-735-8

Keywords

Content available
Book part
Publication date: 26 March 2024

A. K. Sreedisha and A. Celina

Purpose: A psychiatric illness called burnout is caused by emotional tiredness, cynicism, and a decreased sense of personal accomplishment. For police officers to handle and…

Abstract

Purpose: A psychiatric illness called burnout is caused by emotional tiredness, cynicism, and a decreased sense of personal accomplishment. For police officers to handle and adjust to difficult, stressful, and sometimes traumatic events, resilience or recovery during downtime are considered critical capacities. The study aims to investigate the association between resilience or recovery experiences and job burnout among police officers and to ascertain if recovery experiences during off-job time can lessen the harmful impacts of burnout.

Design/methodology: The data were gathered from police officers in the South zone of Kerala state using a structured questionnaire. The police force may have favourable effects on economic development if it embraces resilience-building concepts and develops into a more resilient enterprise. The study used convenience sampling, and the researchers received 300 responses. Karl Pearson correlation and simple regression analysis are used to test hypotheses.

Findings: Findings suggest an association between burnout and resilience or recovery experience measures during off-job time among police officers in Kerala. It is found that recovery experiences can buffer the adverse effects of job stress and burnout.

Practical implications: The results of this study could guide the design of initiatives and programmes that enhance police officers’ performance and satisfaction while also encouraging their general well-being. To further reduce police burnout, implement a programme that aims to improve occupational stress recovery at the organisational level.

Originality/value: It is crucial to evaluate police officers’ burnout and its relationship to resiliency or recovery in their spare time. This study offers unique insights into certain off-the-job behaviours or activities that link to lower levels of burnout; this information could guide programmes or interventions intended to help police personnel.

Details

The Framework for Resilient Industry: A Holistic Approach for Developing Economies
Type: Book
ISBN: 978-1-83753-735-8

Keywords

Open Access
Article
Publication date: 30 November 2023

Rahma Isaack Adam, Farha Deba Sufian and Lucy Njogu

Women’s empowerment remains a key development challenge in Kenya. The purpose of this study is to attempt to understand the status of women’s empowerment and the key contributors…

Abstract

Purpose

Women’s empowerment remains a key development challenge in Kenya. The purpose of this study is to attempt to understand the status of women’s empowerment and the key contributors to their disempowerment in Kenya’s aquaculture sector.

Design/methodology/approach

A cross-sectional survey was conducted on 534 male and female fish farmers from 300 households drawn from six counties in Kenya (Kakamega, Kisumu, Kisii, Kiambu, Meru and Nyeri). The Abbreviated Women’s Empowerment in Agriculture Index (A-WEAI) was adapted to Abbreviated Women’s Empowerment in Fisheries and Aquaculture Index (A-WEFI) to suit the aquaculture and fisheries sub-sector. The adapted A-WEFI was then used to estimate and the status of women’s and men’s using five domains of empowerment (5DE) and a gender parity index (GPI). Data were analysed using descriptive statistics, Cramer’s V and sensitivity analysis as test statistics.

Findings

About 86% of the men and 80% of the women were classified as empowered. The mean score of the 5DE was 0.93 and 0.95 for women and men, respectively. In addition, 82% of the households achieved gender parity, suggesting that for such households, empowerment of men was no greater than that of women. Overall, the results suggest no major differences between the empowerment of women and men. Findings suggest areas of improvement in empowerment: when observed separately, women report lack of agency in production, resource, time-use and allocation and leadership.

Originality/value

This paper adapts the A-WEAI to the fisheries and aquaculture context, in bid to bridge the gap in standard women’s empowerment measurement methods in this area. Also, there are limited empirical studies on the multifaceted empowerment of women in aquaculture in Kenya. The findings are meant to serve as a point of reference for policymakers, as they develop gender-responsive intervention programmes, and in implementing gender mainstreaming in Kenya.

Details

International Journal of Development Issues, vol. 23 no. 1
Type: Research Article
ISSN: 1446-8956

Keywords

Article
Publication date: 28 March 2024

Monica Cerdan Chiscano and Simon Darcy

The present paper answers two significant questions: (1) What are the relative consumer and firm-level effects of marketing through metaverse compared to conventional marketing…

Abstract

Purpose

The present paper answers two significant questions: (1) What are the relative consumer and firm-level effects of marketing through metaverse compared to conventional marketing endeavors? (2) What are the current trends in utilizing the metaverse as reported in the recent literature?

Design/methodology/approach

This study employs a systematic literature review methodology, utilizing a Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) flowchart to synthesize existing research. Thirty-five articles written in English were selected and analyzed from two databases, Web of Science and EBSCO Host.

Findings

The findings indicate that consumer-level effects of the metaverse include consumer loyalty and brand attachment. The firm-level benefits are decentralization and cost reductions. The paper proposes a framework indicating variables that could attenuate or enhance the association between immersive components of the metaverse and their resultant effects.

Originality/value

This study contributes to understanding the role of metaverse in marketing practices related to the marketing mix components. The study conceptualizes a novel framework for the metaverse and its resultant effects.

Details

Journal of Enabling Technologies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2398-6263

Keywords

Article
Publication date: 13 November 2023

Oliver Tannor, Felix Dordaa and John Yaw Akparep

The aim of this study is to examine the agency problems that arise between retail property owners and outsourced facility management (FM) service vendors in Ghana.

Abstract

Purpose

The aim of this study is to examine the agency problems that arise between retail property owners and outsourced facility management (FM) service vendors in Ghana.

Design/methodology/approach

This study was carried out using telephone and face-to-face interviews. Nine facility managers (n =9) and six retail property owners (n = 6) purposively selected participated in the interviews. The responses from the interviews were analysed using content analysis. To begin with the analysis, the recorded audio for each respondent during the interviews was transcribed to augment what was written during the interviews. The next step was the development of a coding framework where each of the agency problems was assigned unique codes and grouped under themes. Each response was assigned a predefined code based on the agency problems identified in the literature. The research team discussed the consistency of the thematic codes assigned to each of the responses to ensure that each response was captured under the appropriate agency problem theme it best represents.

Findings

The results showed that agency problems in FM outsourcing in the Ghanaian retail sector are related to disagreement on expenditure associated with maintenance and repairs and improper tenant information sharing and use by FM service providers. Based on the findings, it is recommended that property owners explore the mixed approach to FM to mitigate the risks of complete outsourcing of FM services. It is also recommended that a clear path on how tenant information can be shared be pre-agreed in FM contracts.

Originality/value

This study provides new literature relating to agency problems in outsourcing and may be the first of its kind for FM in the Ghanaian retail industry. The findings could serve as a starting point for service providers and their principals to find common grounds to understand each other and mitigate the agency problems that could arise and their overall impact on performance.

Details

Journal of Corporate Real Estate , vol. 26 no. 1
Type: Research Article
ISSN: 1463-001X

Keywords

Article
Publication date: 8 June 2023

Markus Brenner, Andreas Wald and Ronald Gleich

Process orientation is important for improving organizational performance. The process view is considered a key enabler of digital transformation, and thus management control…

Abstract

Purpose

Process orientation is important for improving organizational performance. The process view is considered a key enabler of digital transformation, and thus management control systems (MCS) are expected to incorporate this view. However, the existing body of knowledge is fragmented, as different process approaches are often considered independently following a reductionist view of control practices. This paper aims to provide recommendations for further research as well as guidance for practice by a systematic review of the state of research of MC for process orientation. It is based on both a comprehensive view to MC using an MCS package approach and a comprehensive view of process orientation.

Design/methodology/approach

A systematic literature review addressing major types of process orientation approaches was performed by applying the comprehensive MC framework of Malmi and Brown. The results were synthesized and propositions were developed.

Findings

All components of the MC framework, as well as MCS packages, are highly relevant for process orientation. Propositions regarding configurations of MC for process orientation show directions for future research. However, comprehensive considerations of packages and of individual components, especially cultural controls, remain scarce in the literature.

Originality/value

To the best of the authors‘ knowledge, this paper is the first of its kind to provide a comprehensive, structured overview of MC for process orientation, applying a nonreductionist view, based on an MCS Package approach, and consolidating the so far fragmented view of different process approaches.

Details

Journal of Accounting & Organizational Change, vol. 20 no. 2
Type: Research Article
ISSN: 1832-5912

Keywords

1 – 10 of 55