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Behavioral strategy, as a cognitive- and social-psychological view on strategic management, has gained increased attention. However, its conceptualization is still fuzzy and deserves an in-depth investigation. The authors aim to provide a holistic overview and classification of previous research and identify gaps to be addressed in future research.

The authors conducted a systematic literature review on behavioral strategy. The final sample includes 46 articles from leading management journals, based on which the authors develop a research framework.

The results reveal cognition and traits as major internal factors. Besides, organizational and environmental contingencies are major external factors of behavioral strategy.

To the authors’ best knowledge, this is the first holistic systematic literature review on behavioral strategy, which categorizes previous research.

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.

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.

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.

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.

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.

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.

The present study identifies the factors that impact behavioral intentions to adopt solar water heaters (SWHs) and examines their relationship with behavioral intentions using an extended “Unified Theory of Acceptance and Use of Technology” (UTAUT) model.

The study used a primary survey to collect data from 423 respondents across seven Indian states selected through purposive sampling. The collected data was analyzed using IBM SPSS software and “Structural Equation Modeling” (SEM) was performed using SmartPLS 3.5.5.

The results suggest that social influence is the most significant factor affecting SWH adoption, followed by effort, performance expectancy and facilitating conditions. The perceived cost negatively affects behavioral intentions and social influence on behavioral intentions is partially mediated by facilitating conditions. People prefer SWHs if they are easy to install and compatible with other home appliances. Positive perception of friends and family, easy access and government incentives contribute to SWH adoption.

SWH adoption can be promoted by designing sector-specific programs and improving ease of installation, operation, maintenance and after-sale services.

This study explores the behavioral intentions of individuals in India to adopt SWHs. India is a developing tropical country with a high potential for SWH adoption but has not received much attention. Further, the research integrates the perceived cost construct in the UTAUT model and examines the partial mediation impact of facilitating conditions to improve the model’s comprehensibility.

This study examines the main factors influencing banking customers' behavior toward smart banking services (SBS) adoption in Pakistan. This study extends the unified theory of acceptance and use of technology (UTAUT2) by integrating information privacy concern and big brother effect into an overarching conceptualization.

This study adopts theoretical constructs from the related literature and develops hypotheses. An analysis of 385 banking customers was performed using partial least squares structural equation modeling (PLS-SEM).

The results show that most predictors of behavioral intention, including facilitating conditions, effort expectancy, habit, performance expectancy, hedonic motivation (except for social influence and price value), big brother effect and perceived information privacy concern are significant. Indeed, all predictors of use behavior are also significant. Gender and age differences between individuals further moderate the relationship between UTAUT2 constructs. Moreover, information privacy concern mediates the relationship between big brother effect and behavioral intention.

This cross-sectional study focused only on Pakistan as a developing country, which limits the generalizability of the results.

The roles of social influence and price value must be strengthened by employing marketing strategies and personalized communication. Banks should offer incentives and rewards to customers who recommend SBS to friends and family members. In addition, banks must consider the price factor when offering these services to increase their market share.

This study contributes to the field of technology adoption by providing a unique perspective of SBS adoption in Pakistan. This empirical study is the first to extend the UTAUT2 model by integrating information privacy concern and big brother effect to assess SBS acceptance and use behavior. This study examines SBS adoption issues at the national level, especially in Pakistan.

This study aims to reveal the empirical linkage between tourists’ perspectives and attitudes towards disaster ruins and dark tourism by attesting influence relationships between disaster memorials perception, dark tourism evaluation, as well as heritage protection and tourism development intention.

Partial least squares structural equation modeling analysis was used on a sample of 413 valid visitor questionnaires collected at the 5·12 Wenchuan Earthquake Memorial Museum, Sichuan Province, China.

Disaster memorials perception positively influences positive evaluation of dark tourism, heritage protection intention and tourism development intention, while negatively influencing negative evaluation of dark tourism. Furthermore, positive evaluation of dark tourism and heritage protection intention positively affect tourism development intention. In addition, prior knowledge is a significant moderator in the research model.

This study applied the stimulus-organism-response framework and social exchange theory to predict tourists’ behavioral intention toward disaster memorials, providing valuable insights to dark tourism research. It illuminates tourists’ psychological and behavioral characteristics at natural disaster sites and deepens research on the human–nature relationship from the disaster perspective.

本研究试图通过验证自然灾难遗址地游客感知、旅游评价、遗产保护意愿与旅游开发意愿之间的影响关系, 以揭示游客对灾难遗址和黑色旅游的感知及态度之间的隐秘逻辑。

采用偏最小二乘法结构方程模型, 对在中国四川省5·12汶川特大地震纪念馆收集的413份有效游客问卷进行分析。

灾难遗址感知正向影响黑色旅游积极评价、遗产保护意愿和旅游开发意愿, 而负向影响黑色旅游消极评价。同时, 黑色旅游积极评价和遗产保护意愿均显著正向影响旅游开发意愿。此外, 游客的先验知识在研究模型中起着重要的调节作用。

本研究运用“刺激-机体-反应”研究框架预测了旅游者对自然灾难遗址地的行为意向, 深化了黑色旅游研究, 拓宽了S-O-R理论的适用范围。

Este estudio revela el vínculo empírico entre las perspectivas y las actitudes de los turistas hacia las ruinas de catástrofes y el Turismo oscuro, mostrando las relaciones de influencia entre la percepción de los monumentos conmemorativos de catástrofes, la evaluación del turismo oscuro, así como la protección del patrimonio y la intención de desarrollo turístico.

Se empleó un análisis de modelización de ecuaciones estructurales por mínimos cuadrados parciales en una muestra de 413 cuestionarios válidos de visitantes recogidos en el 5·12 Museo Conmemorativo del Terremoto de Wenchuan, Sichuan, China.

La percepción de los monumentos conmemorativos de las catástrofes influye positivamente en las evaluaciones positivas del turismo oscuro, la intención de protección del patrimonio y la intención de desarrollo turístico, mientras que influye negativamente en las evaluaciones negativas del turismo oscuro. Además, las evaluaciones positivas del turismo oscuro y la intención de protección del patrimonio influyen positivamente en la intención de desarrollo turístico. Además, el conocimiento previo moderadora significativamente el modelo de investigación.

Este estudio aplica el marco teórico estímulo-organismo-respuesta (E-O-R) y la teoría del intercambio social para predecir las intenciones de comportamiento de los turistas hacia los monumentos conmemorativos de catástrofes, proporcionando valiosas ideas para el estudio del turismo oscuro. Clarifica las características psicológicas y conductuales de los turistas en los lugares de catástrofes naturales y profundiza en el estudio de la relación entre el ser humano y la naturaleza desde la perspectiva de las catástrofes.

Research on the Internet of Things (IoT) has gained momentum in various industry contexts. However, the literature lacks broad empirical evidence on the factors that influence users' intention to adopt this cutting-edge technology, especially in the food and beverage industry (F&BI) – a significant yet unexplored setting. Therefore, the authors aim to extend the “Unified Theory of Acceptance and Use of Technology (UTAUT)” model by coupling it with perceived collaborative advantage, organizational inertia and perceived cost and explore the key determinants of IoT adoption for the digital transformation of the F&BI.

This study employs a cross-sectional quantitative approach, where a sample of 307 usable responses was drawn from the senior managers of the Australian F&BI.

The authors have found that performance expectancy, perceived collaborative advantage, effort expectancy, social influence and facilitating conditions have a strong positive influence on the behavioural intention to adopt IoT for the digital transformation of the F&BI. Furthermore, while high perceived costs and organizational inertia are often considered negative factors in adopting new technology, our results reveal the insignificant influence of these factors on the adoption of IoT, which is interesting. The findings also suggest that age and voluntariness significantly moderate most of the relationships, while gender is an insignificant moderator.

The study provides several novel insights into the existing body of knowledge by extending the UTAUT model with three variables and applying it in a unique context.

This study aims to critically evaluate hospitality and tourism demand research and introduce a behavioral economics approach to solve the problems faced by researchers.

Current issues in hospitality and tourism demand analysis are identified through critical reflection, and a behavioral economics approach is adopted to develop a new conceptual framework.

Four issues in hospitality and tourism studies are identified from the microeconomic theory and econometric modeling perspectives. The study’s demand framework provides both a theoretical underpinning and quantitative models to resolve the identified issues. With a focus on consumers’ cost–benefit assessments in light of individual differences and environmental factors, the authors’ conceptual framework represents a new effort to quantify hospitality and tourism demand at the disaggregate level with interactive multiple demand curve estimations.

The study’s analytical framework for hospitality and tourism demand analysis is unique, and it fills the research gap. However, this research is still in the conceptual stage, and the authors leave it to future studies to empirically test the framework.

The proposed demand framework at the disaggregate level will benefit both private and public sectors involved in hospitality and tourism businesses in terms of pricing, marketing and policymaking.

The authors offer a new conceptual model that bridges the gap between aggregate and disaggregate hospitality and tourism demand analyses. Specifically, the authors identify research directions for future hospitality and tourism demand research involving individual tourists/consumers at the disaggregate level.

This study extends the understanding of the context of IHRM headquarters as one of the top management groups (TMGs) through the application of both upper echelons theory and contextual theory.

Semi-structured interviews were conducted with senior Israeli HR managers from international advanced-technology companies.

This study expands on theory by explaining how contexts act as constraints or opportunities for IHRM headquarter professionals as TMGs. The organizational context in which the IHRM headquarters take part is based on two themes: organizational structure and shared values. This is followed by the context of IHRM headquarters that includes two foundations for integration: strategic IHRM and trust. Finally, integration is derived from two themes: collaborative behaviors and electronic HRM.

This research has yielded a theoretical framework, which makes progress toward developing an integrative paradigm between IHRM headquarters' behavioral integration and organizational features. The paper presents a valuable “toolkit” for facilitating internal integration in IHRM headquarters.

This paper aims to study and discover the unsearched area in behavioral finance in the new era of technology enhancement. The study has been done with two significant methodologies of reviews. This study also covers the whole structure of the investment decision scenario.

A systematic and bibliometric analysis has been done to make this study conceptual. Data collection sources are highly indexed journals, Scopus, Web of Science and Google Scholar. The “R” package has been used to do bibliometric analysis. Start with data cleaning and import the data in biblioshiny to get and interpret the result. A total of 642 data has been finalized from 1973 to 2022.

Various noticeable results have been found to accomplish the objectives and fill the gap in the study. There is a need to research both technological and psychological factors to determine the relation of these two variables with the investment decision-making of investors.

This study has done a systematic literature review and a bibliometric analysis that shows the importance of technology enhancement for further research, which has been searchable throughout this study.