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Article
Publication date: 1 March 2011

Ranjit Singh and Amalesh Bhowal

The purpose of this paper is to measure the risk perception of the employees in respect of equity shares, from the perspective of elements of marketing mix and to…

1893

Abstract

Purpose

The purpose of this paper is to measure the risk perception of the employees in respect of equity shares, from the perspective of elements of marketing mix and to ascertain the degree of influence of elements of marketing mix on equity‐related risk perception.

Design/methodology/approach

Primary data based on the interview schedule were collected from the employees of Oil India Limited and various tables prepared. For analysis of data, Cronbach's alpha and Friedman test analysis were employed.

Findings

Out of the four elements of marketing mix considered in the study, the degree of influence of price driven measure of risk perception is highest and others in order are product, promotion and place driven measure of risk perception, respectively.

Originality/value

The paper is the first of its kind and hence original in nature.

Details

The Journal of Risk Finance, vol. 12 no. 2
Type: Research Article
ISSN: 1526-5943

Keywords

Article
Publication date: 1 April 2014

Robert A. Olsen

– The purpose of this paper is to investigate the implications of human consciousness relative to financial risk perceptions.

1113

Abstract

Purpose

The purpose of this paper is to investigate the implications of human consciousness relative to financial risk perceptions.

Design/methodology/approach

After conceptually identifying that risk perceptions qualify as a Qualia, survey data are gathered from investment experts to clarify the implications.

Findings

Financial risk perceptions are Qualia and as such should have a strong affective influence on risk perceptions. This suggests that aggregate market measures of financial risk may be difficult to obtain and utilize.

Research limitations/implications

Sample size could be larger and more complete implications need to be investigated. Sample unlikely to exhibit significant bias.

Practical implications

Going to be difficult to devise aggregate measures of financial risk across market participants.

Social implications

Risk is going to be heavily affective in orientation and interpersonal Trust is a financial risk attribute.

Originality/value

Is quite original as the author has never seen another paper look to the implications of consciousness for financial risk perceptions or even Trust. Breaks new ground!

Details

Qualitative Research in Financial Markets, vol. 6 no. 1
Type: Research Article
ISSN: 1755-4179

Keywords

Book part
Publication date: 28 December 2016

Ashley Schroeder, Lori Pennington-Gray, Maximiliano Korstanje and Geoffrey Skoll

This chapter discusses the current risk perception literature in the tourism field. The chapter critiques the literature and offers a solution through a more conceptual…

Abstract

Purpose

This chapter discusses the current risk perception literature in the tourism field. The chapter critiques the literature and offers a solution through a more conceptual and operational definition of risk perceptions. Specifically, the inclusion of affective risk perceptions will be added to the literature via the risk-as-feelings hypothesis. Extension of the current literature will enhance research moving forward.

Methodology/approach

The chapter will provide a literature review, propose a conceptual model, and operationalize the risk perception variables.

Findings

The outcome of this chapter is to provide a conceptual model as a framework to address risk perception studies in tourism and hospitality in the future. The model will provide clear measurement scales to be tested.

Originality/value

This chapter gives a much needed theoretical and conceptual foundation to the study of risk perceptions in the travel and tourism literature.

Details

The Handbook of Managing and Marketing Tourism Experiences
Type: Book
ISBN: 978-1-78635-289-7

Keywords

Book part
Publication date: 25 May 2021

Alessandra Girlando, Simon Grima, Engin Boztepe, Sharon Seychell, Ramona Rupeika-Apoga and Inna Romanova

Purpose: Risk is a multifaceted concept, and its identification requires complex approaches that are often misunderstood. The consequence is that decisions are based on…

Abstract

Purpose: Risk is a multifaceted concept, and its identification requires complex approaches that are often misunderstood. The consequence is that decisions are based on limited perception rather than the full value and meaning of what risk is, as a result, the way it is being tackled is incorrect. The individuals are often limited in their perceptions and ideas and do not embrace the full multifaceted nature of risk. Regulators and individuals want to follow norms and checklists or overuse models, simulations, and templates, thereby reducing responsibility for decision-making. At the same time, the wider use of technology and rules reduces the critical thinking of individuals. We advance the automation process by building robots that follow protocols and forget about the part of risk assessment that cannot be programed. Therefore, with this study, the objective of this study was to discover how people define risk, the influencing factors of risk perception and how they behave toward this perception. The authors also determine how the perception differed with age, gender, marital status, education level and region. The novelty of the research is related to individual risk perception during COVID-19, as this is a new and unknown phenomenon. Methodology: The research is based on the analysis of the self-administered purposely designed questionnaires we distributed across different social media platforms between February and June 2020 in Europe and in some cases was carried out as a interview over communication platforms such as “Skype,” “Zoom” and “Microsoft Teams.” The questionnaire was divided into four parts: Section 1 was designed to collect demographic information from the participants; Section 2 included risk definition statements obtained from literature and a preliminary discussion with peers; Section 3 included risk behavior statements; and Section 4 included statements on risk perception experiences. A five-point Likert Scale was provided, and participants were required to answer along a scale of “1” for “Strongly Agree” to “5” for “Strongly Disagree.” Participants also had the option to elaborate further and provide additional comments in an open-ended box provided at the end of the section. 466 valid responses were received. Thematic analysis was carried out to analyze the interviews and the open-ended questions, while the questionnaire responses were analyzed using various quantitative methods on IBM SPSS (version 23). Findings: The results of the analysis indicate that individuals evaluate the risk before making a decision and view risk as both a loss and opportunity. The study identifies nine factors influencing risk perception. Nevertheless, it must be emphasized that we can continue to develop models and rules, but as long as the risk is not understood, we will never achieve anything.

Details

Contemporary Issues in Social Science
Type: Book
ISBN: 978-1-80043-931-3

Keywords

Open Access
Article
Publication date: 20 June 2022

Rangapriya Saivasan and Madhavi Lokhande

Investor risk perception is a personalized judgement on the uncertainty of returns pertaining to a financial instrument. This study identifies key psychological and…

1111

Abstract

Purpose

Investor risk perception is a personalized judgement on the uncertainty of returns pertaining to a financial instrument. This study identifies key psychological and demographic factors that influence risk perception. It also unravels the complex relationship between demographic attributes and investor's risk attitude towards equity investment.

Design/methodology/approach

Exploratory factor analysis is used to identify factors that define investor risk perception. Multiple regression is used to assess the relationship between demographic traits and factor groups. Kruskal–Wallis test is used to ascertain whether the factors extracted differ across demographic categories. A risk perception framework based on these findings is developed to provide deeper insight.

Findings

There is evidence of the relationship and influence of demographic factors on risk propensity and behavioural bias. From this study, it is apparent that return expectation, time horizon and loss aversion, which define the risk propensity construct, vary significantly based on demographic traits. Familiarity, overconfidence, anchoring and experiential biases which define the behavioural bias construct differ across demographic categories. These factors influence the risk perception of an individual with respect to equity investments.

Research limitations/implications

The reference for the framework of this study is limited as there has been no precedence of similar work in academia.

Practical implications

This paper establishes that information seekers make rational decisions. The paper iterates the need for portfolio managers to develop and align investment strategies after evaluation of investors' risk by including these behavioural factors, this can particularly be advantageous during extreme volatility in markets that concedes the possibility of irrational decision making.

Social implications

This study highlights that regulators need to acknowledge the investor's affective, cognitive and demographic impact on equity markets and align risk control measures that are conducive to market evolution. It also creates awareness among market participants that psychological factors and behavioural biases can have an impact on investment decisions.

Originality/value

This is the only study that looks at a three-dimensional perspective of the investor risk perception framework. The study presents the relationship between risk propensity, behavioural bias and demographic factors in the backdrop of “information” being the mediating variable. This paper covers five characteristics of risk propensity and eight behavioural biases, such a vast coverage has not been attempted within the academic realm earlier with the aforesaid perspective.

Details

Asian Journal of Economics and Banking, vol. 6 no. 3
Type: Research Article
ISSN: 2615-9821

Keywords

Article
Publication date: 27 April 2022

Xiaofei Tang, Pan Zeng, Bing Sun, En-Chung Chang and Fagui Mei

A humanoid intelligent robot (HIR) possessing a human-like appearance can undertake human jobs, interact, communicate and even transmit emotions to human beings. Such…

Abstract

Purpose

A humanoid intelligent robot (HIR) possessing a human-like appearance can undertake human jobs, interact, communicate and even transmit emotions to human beings. Such robots have gradually been integrated into people's daily life and production scenarios. However, it is unclear whether and by what mechanism HIRs can stimulate people’s risk perception and its impact on consumption attitudes. Based on the risk decision theory, this study aims to take the social value substitution attribute of a HIR as the incentive and analyzes the influence of social value substitution and risk perception on the customers’ consumption attitudes.

Design/methodology/approach

Three experiments were conducted to investigate the related questions about the social value substitution attribute of a HIR, its impact on risk perception and the customers’ consumption attitudes.

Findings

The results reveal that physical labor, intellectual labor, friendship, kinship and the ego constitute the hierarchical elements of social value substitution. Among them, physical labor and intellectual labor pertain to the dimension of social function value substitution, while friendship, kinship and ego pertain to the dimension of social presence value substitution; social function value substitution and social presence value substitution affect the subjects’ risk perception positively, but the latter arouses a stronger risk perception; the 2 (risk perception of social function value: security/danger) × 2 (risk perception of social presence value: security/danger) condition corresponds to diverse consumption attitudes.

Originality/value

The results enrich the theories of the “cha-xu pattern” and “uncanny valley” and provide reference for the healthy development of the HIR industry.

Details

Nankai Business Review International, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-8749

Keywords

Open Access
Article
Publication date: 27 May 2022

Benedetta Esposito, Maria Rosaria Sessa, Daniela Sica and Ornella Malandrino

This paper investigates the extent to which the COVID-19 pandemic has accelerated service innovation in the restaurant sector. It explores the use of digital technologies…

1706

Abstract

Purpose

This paper investigates the extent to which the COVID-19 pandemic has accelerated service innovation in the restaurant sector. It explores the use of digital technologies (DT) as a safety-empowerment and resilient strategy in the food-service industry during the pandemic. It also investigates the impact of DT on customers' risk perception (CRP) and customers' intention to go to restaurants (CIR) in Italy.

Design/methodology/approach

Based on the theory of planned behaviour and perceived risk theory, this study investigates a sample of customers residing in Italy. Multiple regression and mediation analyses are conducted to test the research hypotheses, adapting the logic model developed. Using the bootstrapping technique, this study also explores whether the pandemic has moderated the relationship among several variables adapted from the literature. Robustness tests are also performed to corroborate the analysis.

Findings

The pandemic has accelerated the food-service industry's digital transformation, forcing restauranteurs to implement DT to survive. Findings show that DT support restauranteurs in implementing innovative services that reduce interactions and empower cleanliness among workers and customers, reducing CRP and preserving CIR. Thus, managing risk perception is helping the restaurant sector to recover.

Practical implications

Practical implications are presented for policymakers to catalyse the digital transformation in small- and medium-sized restaurants. The results may also be beneficial for entrepreneurs who can implement innovative service practices in order to reduce interaction and empower cleanliness levels. Moreover, academics can use these results to conduct similar research in other geographical contexts.

Originality/value

The present research represents the first study investigating the relationship between the use of digital technologies and the intentions of customers to go out for dinner during the ongoing pandemic in Italy.

Article
Publication date: 26 November 2021

Eulalia Santos, Vasco Tavares, Fernando Oliveira Tavares and Vanessa Ratten

Risk is part of corporate activity and a consequence of the businesses' demands, the market and the changes in companies and their surroundings. The way that risk is…

Abstract

Purpose

Risk is part of corporate activity and a consequence of the businesses' demands, the market and the changes in companies and their surroundings. The way that risk is managed is different between family and non-family businesses. The paper aims to compare the different risk types experienced in the context of the coronavirus disease (COVID-19) pandemic among family and non-family businesses and to analyze whether operational, legal, strategic and image risks influence financial risks.

Design/methodology/approach

The nature of the study is quantitative and based on a questionnaire survey that analyses the perception of risks by 1,090 family businesses and 557 non-family businesses.

Findings

The results show the existence of statistically significant differences in the perception of financial and legal risks between family and non-family businesses, where the former being the businesses that give more importance to these risks. The perception of operational, legal, strategic and image risks have a positive influence on the perception of financial risk in family and non-family businesses.

Originality/value

The results obtained in the study are important because they allow an understanding about the differences in risk management between family and non-family businesses, which can lead to greater corporate sustainability and increased financial performance.

Details

Journal of Family Business Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2043-6238

Keywords

Article
Publication date: 5 April 2022

Amaka Nnaji

The purpose of this paper is to examine the social, economic and demographic determinants of rural households' risk perception of farmer–herder (FH) conflicts in Nigeria…

Abstract

Purpose

The purpose of this paper is to examine the social, economic and demographic determinants of rural households' risk perception of farmer–herder (FH) conflicts in Nigeria. The paper also investigates two aspects of FH conflict risk perception relating to food production and physical insecurity.

Design/methodology/approach

A FH conflict risk perception model is constructed and tested using exploratory factor analysis (EFA), ordinary least squares (OLS) and seemingly unrelated regression equation (SURE) models. The study uses cross-sectional data from 401 rural households in Nigeria.

Findings

Results show that in addition to economic determinants like farm size, land ownership and crop diversity, socio-demographic variables like age and number of languages spoken are significant predictors of household risk perception of FH conflict. Second, although gender and frequency of FH conflict have no significant effect on the risk perception of FH conflict, there is a significant moderating effect of frequency of FH conflicts on the influence of gender on the risk perception of FH conflict. Third, findings also highlight the important predictors of the risk perception of FH conflicts relating to food production and physical insecurity.

Originality/value

Findings give insight into policies targeted at influencing the risk behaviour of rural households. This is important to aid the development of efficient risk management initiatives.

Details

International Journal of Social Economics, vol. 49 no. 8
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 9 August 2021

Raquel Camprubí and Joan B. Garau-Vadell

Peer-to-peer (P2P) vacation accommodation has recently emerged as a disruptive new form of tourism development. Its potential negative impacts (economic, socio-cultural…

Abstract

Purpose

Peer-to-peer (P2P) vacation accommodation has recently emerged as a disruptive new form of tourism development. Its potential negative impacts (economic, socio-cultural and environmental) may make residents feel at risk. Therefore, this paper aims to explore residents’ risk perceptions related to the growth of P2P vacation accommodation.

Design/methodology/approach

The empirical study was conducted in Mallorca (Spain) among 529 residents and a cluster analysis was carried out.

Findings

Results indicate clearly differentiated sociodemographic and attitudinal profiles, which can be classified into four tourist types. The conclusions of the paper suggest implications for tourist managers.

Originality/value

In the field of tourism studies, risk perception has been explored from the perspective of both tourists and hosts. To date, however, residents’ perception of risk has received little attention. Given the importance of resident-tourist interaction in fostering successful destinations this paper focusing on this arena.

Details

Journal of Place Management and Development, vol. 15 no. 2
Type: Research Article
ISSN: 1753-8335

Keywords

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