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1 – 5 of 5Mohd Adil, Yogita Singh and Mohd. Shamim Ansari
The purpose of the study is to examine the impact of behavioural biases (i.e. overconfidence, risk-aversion, herding and disposition) on investment decisions amongst gender. The…
Abstract
Purpose
The purpose of the study is to examine the impact of behavioural biases (i.e. overconfidence, risk-aversion, herding and disposition) on investment decisions amongst gender. The authors further examine the moderation effect of financial literacy in the relationship between behaviour biases and investment decisions amongst gender.
Design/methodology/approach
The study considered a cross-sectional research design. For this survey, the data have been collected through a structured questionnaire from 253 individual investors of the Delhi-NCR region. To analyse the validity and reliability, the Pearson correlation and Cronbach's alpha test have been taken into account respectively. For testing the hypothesis, hierarchical regression analysis has been used in the study.
Findings
The results of the study reveal that amongst male investors, the influence of risk-aversion and herding on investment decision was negative and statistically significant, while the influence of overconfidence on investment decision was positive and significant. However, the influence of disposition was found statistically insignificant. The results stated that amongst female investors the effect of risk-aversion and herding on investment decision was negative and statistically significant. However, the effect of overconfidence and disposition was statistically insignificant influence the investment decision. It has been observed that financial literacy has significantly influenced investment decisions amongst male and female investors. The results of the interaction effect amongst male investors stated that the interaction between overconfidence and investment decision was significantly influenced by financial literacy. However, the interaction of financial literacy with the remaining three biases, i.e. risk-aversion, herding and disposition was found insignificant. The results for the interaction effect of financial literacy with overconfidence, risk-aversion, disposition and herding were found statistically significant amongst female investors.
Research limitations/implications
Based on this present research finding, the study is more productive for the portfolio manager and policymakers at the time of making an investment portfolio for the investors based on their behavioural biases. The study recommends that investors need training programmes, workshops and seminars that enhance financial literacy and financial knowledge of investors which helps them to overcome the behavioural biases while making an investment decision.
Originality/value
The current study aims to explore whether several behavioural biases can affect investment decisions amongst gender. Moreover, the authors would like to examine whether these associations are moderated by financial literacy. In this sense, financial literacy might also show a substantial part in the prediction of investments. The current study might be of the first study that examines the moderation effect financial literacy amongst male and female investors.
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Mohd Adil, Yogita Singh and Mohd Shamim Ansari
In an emerging economy like India, the contribution of Indians in the stock market is very low, despite having the highest percentage of savings. The research tries to look for…
Abstract
Purpose
In an emerging economy like India, the contribution of Indians in the stock market is very low, despite having the highest percentage of savings. The research tries to look for the variables which influence the investor's intentions to invest in the Indian stock market, by considering the theory of planned behavior (TPB). Moreover, the study incorporates financial literacy (FL) in the model to examine its influence on investors’ investment intention and also examine the moderation effect of financial literacy.
Design/methodology/approach
Data were collected using a structured questionnaire from a sample of 393 respondents by using the convenience sampling method which is followed by the snowball sampling technique. For testing the research hypotheses, SEM and PROCESS macro v3.0 for SPSS were taken into consideration.
Findings
The results explain that factors of TPB i.e. attitude (AT), subjective norms (SNs) and perceived behavioral control (PBC) are significantly associated with investment intentions (IIs). Furthermore, along with the original components of the TPB model, Financial Literacy (FL) was also incorporated in the model, which predicted the investors' intention better. The results also stated that FL has a positive impact on AT, PBC and II. Moreover, results reveal that FL moderates the association between AT, PBC and II.
Research limitations/implications
The study describes that financial literacy can help in increasing the participation of investors in the stock market. Therefore, in this situation, the current research permits the Security Exchange Board of India (SEBI), governments and financial institutions (FIs) to plan and design seminars or courses, programs, to enhance FL among individuals and promote individuals in making well-organized and efficient investment decisions in stock markets that will in turn upsurge individual investors participation. The study contributes to the existing literature of investment behavior by incorporating FL as a moderator. Research avoids considering actual investment behavior. The study also neglects demographic and socio-psychological factors which are the major factor that affects an investment decision. Furthermore, the research has only considered the objective dimension of FL.
Originality/value
The current research tries to incorporate FL in TPB model. Moreover, tries to examine the moderation effect of FL. The research is one of its kind as the past research neglect to examine the moderation effect of FL in relationship between AT, PBC and investment intension to investment in stock market. The research helps to understand how FL encourages investors to invest in the Indian stock market.
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Neale J. Slack, Gurmeet Singh, Jazbeen Ali, Reshma Lata, Karishma Mudaliar and Yogita Swamy
The purpose of this study is to investigate the effect of fast-food restaurant service quality (compound effect of food quality, physical environment quality and employee service…
Abstract
Purpose
The purpose of this study is to investigate the effect of fast-food restaurant service quality (compound effect of food quality, physical environment quality and employee service quality) and its dimensions (when acting independently) on customer perceived value, satisfaction and behavioural intentions.
Design/methodology/approach
Data was collected from 400 fast-food restaurant customers in Fiji using a public-intercept survey. The study used descriptive and inferential analysis. This research also used backward elimination multiple regressions to test the hypotheses of this study.
Findings
The compound effect of fast-food restaurant service quality dimensions on customer perceived value revealed food quality and physical environment quality are significant determinants of customer perceived value, however employee service quality is not. In contrast, the effect of the fast-food service quality dimensions acting independently on customer perceived value revealed the three dimensions are significant determinants of customer perceived value. Results also confirmed that customer perceived value is a significant determinant of customer satisfaction and customer satisfaction is a significant determinant of behavioural intentions.
Research limitations/implications
This study highlights to fast-food restaurateurs and marketers the importance of determining the compound effect of fast-food restaurant service quality dimensions, delivering the right combination of fast-food restaurant service quality dimensions to customers and not singling out dimensions in an attempt to enhance restaurant service quality.
Originality/value
This study makes important contributions towards understanding the compound effect of fast-food restaurant service quality dimensions and the independent effect of these dimensions on the formation of customer perceived value, customer satisfaction and behavioural intentions.
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Abhishek, Saral Mukherjee and Yogita Patra
UrbanClap was setup in October 2014 to address the opportunity of bringing the workforce from the unorganised sector into the mainstream using the power of technology. It was an…
Abstract
UrbanClap was setup in October 2014 to address the opportunity of bringing the workforce from the unorganised sector into the mainstream using the power of technology. It was an on-demand marketplace for services available through a mobile app. In the initial years, UrbanClap, developed as horizontal marketplace, saw intense competition from existing and new players who were operating in the hyperlocal services space. It competed in the on-demand service marketplace by categorising its services into a lead generation business (where it connected customers with the service provider and charged a fee for matchmaking) and a fulfilment business (where UrbanClap took end-to-end responsibility for quality of service delivery). After three and half years of operations, the three co-founders wondered if it was time they moved out of lead generation and instead focussed on the fulfilment business.
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Ese Urhie, Ogechi Chiagozie Amonu, Chiderah Mbah, Olabanji Olukayode Ewetan, Oluwatoyin Augustina Matthew, Oluwasogo Adediran, Oreoluwa Adesanya and Adeleke Adekeye
This study aims to analyze the effect of banking technology [automated teller machine (ATM) and mobile cellular devices (MOBs)] and other traditional factors on the level of…
Abstract
Purpose
This study aims to analyze the effect of banking technology [automated teller machine (ATM) and mobile cellular devices (MOBs)] and other traditional factors on the level of currency in circulation for a sample of 21 selected sub-Saharan African (SSA) countries. It also assessed the mitigating effect of education on the relationship between banking technology and the cashless economy.
Design/methodology/approach
The study used a panel data approach to design a cashless economy model with banking technology – ATM and MOBs – as well as their interaction with education as regressors.
Findings
This study finds that MOB is significant for promoting a cashless economy, whereas ATM is insignificant in sample SSA countries. The level of education and the number of bank branches were also found to be significant in promoting a cashless economy. The interaction between education and ATM was insignificant but negatively signed, whereas that between education and MOB was significant but had a positive sign.
Research limitations/implications
Non-availability of data restricted this work to a panel study of selected SSA countries. Subsequent studies should consider single-country case studies.
Practical implications
Findings from the study imply that for banking technology to drive a cashless economy effectively, education has to be improved.
Originality/value
The ratio of cash in circulation to total money supply was used as a measure of the cashless economy. The study also evaluated the moderating effect of education on banking technology.
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