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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.

This study aims to investigate the role of interpersonal influence on consumer purchase decisions regarding foreign products, specifically by exploring consumers’ social reaction styles (acquisitive and protective) when confronted with normative pressures and their subsequent impact on consumers’ purchase behavior in the context of situational animosity.

Three studies were conducted in China to empirically examine the proposed research model. The US–China Chip War of 2022 was used as the research context for situational animosity, while the Japan–China relationship representing a stable animosity condition was used for contrast.

This study establishes the mediating role of perceived normative pressure in linking animosity attitudes to purchase avoidance in situational animosity. It also validates that consumers’ social reaction styles (acquisitive and protective) help predict distinct behavioral outcomes, holding significant implications for advancing research in the field of product and brand consumption.

This research provides a novel perspective by exploring consumers’ social reaction styles when dealing with normative pressure in situational animosity. The distinction between acquisitive and protective reaction styles adds depth and originality to the study. Moreover, this study examines consumer behavior in two distinct consumption contexts: switching intentions to local products and purchase intentions for products from offending countries in hidden consumption situations. This dual perspective offers a comprehensive exploration of consumers’ purchase behavior under normative pressure, contributing to the novelty of this research.

Given resource constraints such as time and staffing, hotels cannot respond to all negative online reviews (NORs). Therefore, this study investigates (1) what types of NORs hotels should prioritize responding; and (2) what response strategies are more effective in handling different types of NORs to minimize the negative ramifications.

Four experiments in the context of hospitability were used to test the hypotheses.

Our findings show that NORs with implicit conclusions (e.g. “I do not believe that is a good choice, you know what I mean.”) are more dissuasive than NORs with explicit ones (e.g. “Do not buy it.”) because the former NORs are perceived as more objective than the latter NORs. More importantly, our results show that firms do not need to respond to explicit NORs. When responding to implicit NORs, firms should prioritize those related to service failures caused by external (e.g. weather, technological misfunction) rather than internal (e.g. poor management, employee skills) factors.

Our studies focus on the language styles of Chinese NORs, and future research should investigate how language styles influence dissuasion in other languages.

Our results show that NORs with implicit conclusions negatively impact consumer attitude and thus hurt performance more significantly than those with explicit conclusions. Therefore, firms should allocate limited staffing and resources to NORs with implicit conclusions. When responding to implicit NORs, firms should select NORs that can be attributed to external factors.

Our findings shed light on the importance of the language styles of NORs and provide marketers with insights into how to handle NORs. Our results reveal that consumers perceive higher objectivity of NORs when these reviews are implicit than when they are explicit. Furthermore, this study contributes to the online review literature by suggesting that firms should tailor their response strategies for NORs based on the reviewers’ language styles.

Being grounded in interdependence theory, this study aims to address the following research question: Do managers’ negotiation styles (collaborative versus competitive) make employees’ relational justice-emotional experiences links sporadic?

Data elicited from N = 139 Pakistani undergraduate students participating in an online scenario-based experiment were used to employ repeated measures analysis and partial least square structural equation modeling techniques.

Results suggest that employees’ relational justice is likely to be higher when managers use a collaborative negotiation style than when they use competitive style in performance review meetings. Moreover, per managers’ different negotiation styles, employees’ relational justice perceptions may predict their positive emotions differently. That is, when managers use collaborative negotiation style, employees’ relational justice perceptions may positively predict their hope but not optimism, whereas when managers use competitive negotiation style, employees’ relational justice perceptions may positively predict their optimism but not hope. Furthermore, the positive relationship between employees’ relational justice and their optimism is stronger when their trust in manager is low than when it is high.

The study is of value for performance management theorists who aim to address the issue of ineffectiveness of the practice through relational means. The study includes the recently explicated concept of relational justice and examines its links with employee emotional reactions to performance reviews. Moreover, the study unveils how managers’ negotiation styles in performance review meetings cause variations in the links between employees’ perceptions of relational justice and their emotional experiences.

Based on cue utilization theory, this study aims to examine effects of the style (fashion vs basic) and licensing status (licensed vs nonlicensed) of university-related apparel products (URAPs) as intrinsic and extrinsic cues, respectively, impacting university fans’ responses (i.e. attitudes, purchase intentions and purchase behaviors) and the moderating roles of personal factors (i.e. perceived university prestige, quality consciousness and uniqueness seeking).

Data were collected via an online quasi-experiment employing a 2 (licensing status: licensed vs nonlicensed) × 2 (style: basic vs fashion) within-subjects design with a purposeful sample of 1,126 students and alumni of a Southeastern American university.

Results show that consumers generally responded more favorably to licensed (vs nonlicensed) URAPs, especially for basic styles, whereas their responses to fashionable URAPs were more favorable for nonlicensed (vs licensed) URAPs. Furthermore, the positive effects of licensing status were stronger for consumers with high (vs low) perceived university prestige or quality consciousness. Consumers generally more favorably responded to basic (vs fashion) URAPs, but this style effect was weaker among those with a high (vs low) uniqueness seeking tendency.

Theoretical explanations on URAP consumption have been scant in the product and brand management literature. This study fills this literature gap by conceptualizing extrinsic (i.e. licensing status) and intrinsic (i.e. style) cues crucial in URAP consumption from a cue utilization theory lens and demonstrating empirical evidence for the intricate interplays among the two cues and diverse personal characteristics.

In a programming course, students often need tutors' assistance to complete learning activities, as they lack enough background knowledge to complete tasks. A further problem is that without individual tutoring, the knowledge gap between students increases. Therefore, the authors have proposed an instant response learning supplement tool (IRLST) to support students' learning, in order to facilitate students' independent problem-solving skills.

The authors divided the students into two groups according to their learning styles: verbal and visual. The IRLST was used to collect and analyze the information on their usage and provide supplementary resources to facilitate their learning. The proposed system also analyzed the student usage, background knowledge and exam scores to assess their academic performance.

According to the results of statistical analysis, students' learning performance improved significantly, especially low-scoring students. Moreover, as compiler messages were not recognized, students tended to identify the same problems. Thus, it is suggested that teachers not only should focus on improving the students' syntax but also strengthening their background knowledge and debugging skills.

There are two main limitations in this study: (1) as most of the students were in the visual learning group, the size of the groups was impacted, thus it was not possible to establish a control group; (2) one specific version of the IRLST system did not send reliable advice or supplementary content occasionally.

The IRLST developed in this study can be used to provide immediate supplementary resources to help students overcoming programming problems and developing problem-solving skills.

This study aims to asses students’ sustainability consciousness (SC) in relation to their perceived teaching styles in seven public sector institutions in Pakistan.

A survey technique was used to collect data from respondents. Grasha’s (1996) Teaching Styles Inventory and Gericke et al.’s (2019) Sustainability Consciousness Questionnaire were used to collect data pertinent to teachers’ teaching styles and students’ SC, respectively. This study’s population was 1,986 students studying in seven educational institutions. A sample of 993 students was selected for the study. Out of the 993 questionnaires distributed, only 753 respondents returned the questionnaire completely filled, resulting in a response rate of 75.83%. Descriptive statistics and structural equation modeling (SEM) were used to analyze the data.

The results show that students’ mean scores on environmental and social dimensions were higher compared with the economic dimension. Similarly, students’ scores were relatively higher on the knowledge and attitude dimension while lower on the behavior dimension. Moreover, the expert and formal authority teaching styles were the most prevalent teaching styles. Furthermore, SEM results show that various teaching styles affected students’ knowledge and attitude; however, only the delegator teaching style affects all three dimensions of SC.

This research has implications for educational institutions and policymakers to ensure dedicated efforts to promote and integrate education for sustainable development into the educational system and achieve sustainability goals by 2030.

The study findings will help future teachers to effectively integrate sustainability education into their classrooms.

This research expands the discussion on the effectiveness of various teaching styles on SC in teacher education programs.

As the Hashemite Kingdom of Jordan celebrates its first centenary, this paper presents a critical reading of the development of architecture in the Kingdom reflecting the transformation of national identity.

The paper achieves this aim by performing an analytical diachronic survey of the main architectural styles and trends that emerged in Jordan and links the architectural styles and trends to four main historical periods that characterize the national temporal trajectory, supported by examples of buildings, projects and architects that represent each period.

The results show the impacts of different forms of architectural modernism on local practice and explore attempts to create a national architectural identity that range in their ideological drive from Pan-Arabism to Jordanian localism.

The research adds to the discourse on Arab cities and architecture and shows the development of architectural trends in an Arab Muslim country, focusing on the interaction of architectural modernism with local variables. The research aims to supplement literature on Arab architecture with a critical and nuanced historical account of Jordanian architecture in the English language to serve a global audience.

Background: Quality of life is a core concern for cancer patients, which can be negatively affected by illness-related death anxiety; yet understanding of how to appropriately target psycho-oncological interventions remains lacking. We aimed to explore experiential acceptance in cancer patients, and whether acceptance – as an alternative to avoidant coping – was related to and predictive of better quality of life and death anxiety outcomes.

Methods: We used a longitudinal, quantitative design with a follow-up after three months. Seventy-two participants completed a questionnaire-battery measuring illness appraisals, acceptance and non-acceptance coping-styles, quality of life, and death anxiety; 31 participants repeated the battery after three months.

Results: Acceptance was an independent explanatory and predictive variable for quality of life and death anxiety, in the direction of psychological health. Acceptance had greater explanatory power for outcomes than either cancer appraisals or avoidant response styles. Avoidant response styles were associated with greater death anxiety and poorer quality of life.

Conclusions: The findings support the role of an accepting response-style in favourable psychological outcomes, identifying a possible target for future psychological intervention. Response styles that might be encouraged in other therapies, such as active coping, planning, and positive reframing, were not associated with beneficial outcomes.