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This paper aims to explore factors influencing Vietnamese people’s susceptibility to fraud through cryptocurrency Ponzi schemes.

This study uses the gullibility theory, the theory of planned behavior theory, the traditional theory of finance and the theory of financial behavior, to develop a questionnaire which is then sent to respondents who are Vietnamese individuals. Subsequently, the partial least squares structural equation modeling approach (PLS-SEM) is used to analyze 370 collected responses.

This research shows the important roles that trust, risk appetite and knowledge of Ponzi play in respect of fraud susceptibility, among which trust has the highest positive impact. Moreover, there is no evidence of relationships between Vietnamese people’s susceptibility to fraud via cryptocurrency Ponzi schemes and attitudes toward investment scams, knowledge of investment or knowledge of Ponzi schemes.

This paper collects only 370 valid responses, which raises some questions regarding the diversity and representativeness of the survey sample.

This study provides evidence on factors affecting Vietnamese people’s fraud susceptibility to cryptocurrency Ponzi schemes, which helps both authorities and individuals to be vigilant against investment scams.

This research proposes several recommendations to prevent investment scams in cryptocurrency trading, from the perspective of state regulators and individuals.

This working paper provides a new approach using PLS-SEM to build a theoretical framework for the possibility of becoming victims of investment scams in Vietnam using a combination of different theories from criminology and finance.

This article aims to systematically review the literature published in recognized journals focused on cognitive heuristic-driven biases and their effect on investment management activities and market efficiency. It also includes some of the research work on the origins and foundations of behavioral finance, and how this has grown substantially to become an established and particular subject of study in its own right. The study also aims to provide future direction to the researchers working in this field.

For doing research synthesis, a systematic literature review (SLR) approach was applied considering research studies published within the time period, i.e. 1970–2021. This study attempted to accomplish a critical review of 176 studies out of 256 studies identified, which were published in reputable journals to synthesize the existing literature in the behavioral finance domain-related explicitly to cognitive heuristic-driven biases and their effect on investment management activities and market efficiency as well as on the origins and foundations of behavioral finance.

This review reveals that investors often use cognitive heuristics to reduce the risk of losses in uncertain situations, but that leads to errors in judgment; as a result, investors make irrational decisions, which may cause the market to overreact or underreact – in both situations, the market becomes inefficient. Overall, the literature demonstrates that there is currently no consensus on the usefulness of cognitive heuristics in the context of investment management activities and market efficiency. Therefore, a lack of consensus about this topic suggests that further studies may bring relevant contributions to the literature. Based on the gaps analysis, three major categories of gaps, namely theoretical and methodological gaps, and contextual gaps, are found, where research is needed.

The skillful understanding and knowledge of the cognitive heuristic-driven biases will help the investors, financial institutions and policymakers to overcome the adverse effect of these behavioral biases in the stock market. This article provides a detailed explanation of cognitive heuristic-driven biases and their influence on investment management activities and market efficiency, which could be very useful for finance practitioners, such as an investor who plays at the stock exchange, a portfolio manager, a financial strategist/advisor in an investment firm, a financial planner, an investment banker, a trader/broker at the stock exchange or a financial analyst. But most importantly, the term also includes all those persons who manage corporate entities and are responsible for making their financial management strategies.

Currently, no recent study exists, which reviews and evaluates the empirical research on cognitive heuristic-driven biases displayed by investors. The current study is original in discussing the role of cognitive heuristic-driven biases in investment management activities and market efficiency as well as the history and foundations of behavioral finance by means of research synthesis. This paper is useful to researchers, academicians, policymakers and those working in the area of behavioral finance in understanding the role that cognitive heuristic plays in investment management activities and market efficiency.

To construct effective compliance programmes, the phenomenon of non-compliance and variations in its abidance must be elucidated. The purpose of this paper is to discuss the social reality of ethical decision making, which examines the internalisation of moral norms and realities of social behaviour and, therefore, the general non-compliance with everyday laws (Tyler, 2006).

This paper makes use of several social theories, including social proof theory, traditional social theory and social control theory. Humans are social beings, and decision-making in ethics is strongly influenced by herding behaviour (Roy, 2021). The behaviour of others and normative ethical standards inform the compliance of behaviour to an undiminishable degree.

Although there is a host of factors to consider, the success of compliance can largely be attributed to people’s perception and reception of authority. The perception of authority and legitimacy plays a vital role in appreciating the complexity of rule following. Legitimacy, and its embodiment by persons in public roles, is a cornerstone of the subsequent discussion.

This paper uncovers the underlying motivations of non-compliance as well as the social psychology involved in the ethics of compliance. Cross-disciplinary connections are made between the private and public sector and practical compliance recommendations. The significant impact of integrity culture and value-based compliance emerges from the dissection of the social reality.

How can large international financial firms go green in authentic ways? What enhances ‘Net Zero action’? Changes in global banks, fund managers, and insurance firms are at the heart of green finance. External change pressures – combined with problematic firm predispositions – exacerbate barriers to change and promote scepticism about authentic Net Zero change. Field research reveals main elements, connections, and interactions of this question by considering financial firms as complex socio-technical systems (Mitleton-Kelly, 2003). An interdisciplinary/holistic narrative approach (De Bakker et al., 2019) is adopted to design a conceptual framework that can support a green ‘behavioural theory of the financial firm’ (green BTFF). The BTFF presents an international version (Peng, 2001) of the resource-based view (RBV) of the firm (Barney, 1991; Hart, 1995; Teece et al., 1997).

The approach of this chapter is aimed at closing knowledge gaps and realign values in financial markets and society. By raising awareness about organised hypocrisy and facades (Brunsson, 1993; Cho et al., 2015; Schoeneborn et al., 2020) in financial firms the chapter aims at overcoming the gap between ‘talking’ and ‘walking’ in the financial sector. The chapter defines testable firm-level hypotheses for ‘Green Finance’ (Poterba, 2021) as well as – by implication – tests for ‘greenwashing’.

Traditional Korean buildings do not differ significantly in form or structural style according to era or building type. The authors interpret this from a generative rather than a typological perspective. The generation perspective considers factors forming the buildings and is connected to the prevailing thoughts of the era.

This study analyzes the generation method of seowon facilities in the Joseon Dynasty (1392–1897), focusing on the Dosan Seowon. Based on Koreans' long-term thinking, the authors applied the extracted architectural space generation layers for analysis, and present an integrated method of generation layers when the Dosan Seowon was built.

The immanent, physical and body perceptual layers presented for seowon formation analysis are represented by thought, form and territory. Specific aspects of these layers in the Dosan Seowon are analyzed, including the architectural arrangement that connects the land conditions with neo-Confucian courtesy and order, the collective architectural form considering the energy of yin and yang, and the elements of objects that affect the human body perception. This form of architecture was closely linked with and strongly influenced by monistic philosophy.

After the Korean War, architects judged traditional buildings only by shapes, and quickly accepted Western architecture's forms. Presenting a generative perspective of traditional Korean architecture expands the theoretical research direction of modern succession.

This is the first attempt to examine the generation method based on the Dosan Seowon's generation layers.

This commentary aims to identify the myopic drift of the marketing discipline and to opine on the areas in which the leadership of service scholars is needed. The authors identify specific areas where the input of service scholars is needed to enable the discipline to better contribute to users, providers, and society. For example, the growing gap between marketing scholarship and practical business needs is acknowledged, emphasizing the unique position of service scholars to bridge this divide. While consumer well-being is crucial, the exclusive focus on behavioral science is critiqued. Marketing’s roots are deeply connected to economics, shaping consumer choices, and service scholars can help revive marketing’s essence.

Personal reflections and historical literature assessment.

The services discipline is caught in the general myopic behavioral drift of the marketing discipline. However, they are well positioned to reverse the trend by seeking leadership in PhD programs, journal editorships and review boards, faculty recruiting, hiring and promotion, and by continuing its engagement with industry professionals.

The authors suggest extensive goals for service scholars. To accomplish these goals, it will be necessary to challenge the increasing behavioral drift of the majority of existing scholars in the discipline.

This work is original and controversial. It is meant to inspire discussion and focus attention on the problems inherent in the increasingly myopic behavioral orientation of the members of the discipline’s academic community.

This study investigates the influence of corporate income tax on two corporate financial decisions — dividend and capital structure policies, particularly for Shariah compliant companies in Malaysia.

The study considered data from a sample of 529 Malaysian listed companies from four industrial sectors from 2007–2021 (6,746 company-year observations, before eliminating outliers). Panel models such as Fixed Effect and Random effect models were used. The study specifically tested the effect of corporate income tax on dividend and capital structure policies for Shariah compliant companies (3,148 observations) and controlled for industrial sectors.

(1) Firms are mostly Shariah-compliant, less liquid, less profitable and smaller in size, (2) Broadly when analysed together, tax has no impact on debt-equity ratio while it has an impact on dividend per share, (3) However, when tested separately for Shariah compliant companies, the influence of effective tax on capital structure is very evident but not for dividend and (4) influence of industrial sector on the relationship between corporate tax and capital structure and dividend policy is significant. Results indicate that Shariah firms might be raising debt to gain tax advantage. Companies in general pay dividends to avoid reputational damage.

This study assumes that leverage and dividend policy decisions are the main outcomes of the changing tax policies, while it seems that there could be other important outcomes that can be tested in future research. The study also shows the changing tax regimes of different ASEAN countries but they have not been tested to see the differences between countries. It will be indeed interesting for future researchers to focus on this aspect.

The findings contribute to the literature on tax planning of the Shariah-compliant firms, a high growth business segment in the Asian context. The study discussed potential tax-based Islamic market product development.

Drawing on social exchange theory and traditional Chinese leadership theory, this research examines employees' perceptions of corporate social responsibility (CSR) using a multilevel mediation model. It also examines the possibility that meaningful work mediates the relationship between perceived CSR and work engagement.

Survey data were collected from 605 employees of 103 departments across 35 companies in Taiwan. Multilevel path models and hypotheses were tested using Mplus structural-equation modeling software.

The results show that department-level CSR perceptions were positively related to employee-level work engagement and that CSR was a mediating factor between department managers' moral leadership and employee-level work engagement. Additionally, meaningful work played a cross-level mediating role between CSR perceptions and work engagement.

For organizational managers, these findings imply that enterprises should practice CSR and guide their employees in its correct interpretation. They also reinforce the idea that department leaders should behave ethically, because this will encourage their employees to develop positive perceptions of the company's CSR implementation and thus to be more engaged in their work. Lastly, incorporating CSR programs into training materials and encouraging employees to actively participate in such programs' development, deployment and evaluation should help make work meaningful for employees and further enhance their engagement with it.

This study explains how a cross-level mechanism connects department-level moral leadership to employee-level work engagement in a Chinese cultural context.

This paper proposes a way of reflexing on how we think within critical disaster studies. It focuses on the biases and unthought dimensions of two concepts – resilience and development – and reflects on the relationship between theory and practice in critical disaster studies.

Premised on the idea of epistemic reflexivity developed by Pierre Bourdieu, and drawing on previous research, this theoretical article analyses two conceptual biases and shortcomings of disaster studies: how resilience builds on certain agency; and how development assumes certain political imagination.

The article argues that critical disaster scholars must reflect on their own intellectual practice, including the origin of concepts and what they do. This is exemplified by a description of how the idea of resistance is intimately connected to that of resilience, and by showing that we must go beyond the capitalist realism that typically underlies development and risk creation. The theoretical advancement of our field can provide ways of thinking about the premises of many of our concepts.

The paper offers an invitation for disaster researchers to engage with critical thought and meta-theoretical reflexions. To think profoundly about our concepts is a necessary first step to developing critical scholarship. Epistemic reflexivity in critical disaster studies therefore provides an interesting avenue by which to liberate the field from overly technocratic approaches and develop its own criticality.