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1 – 10 of over 109000Ranjit 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 ascertain the…
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.
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Keywords
– The purpose of this paper is to investigate the implications of human consciousness relative to financial risk perceptions.
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!
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This study examines the impact of climate risk perception on corporate environmental, social and governance (ESG) performance from a microfirm perspective.
Abstract
Purpose
This study examines the impact of climate risk perception on corporate environmental, social and governance (ESG) performance from a microfirm perspective.
Design/methodology/approach
Using a sample of Chinese listed companies from 2009 to 2021, we constructed corporate climate risk perception indicators based on the Management Discussion and Analysis (MD&A) in the annual reports of the companies, and analyzed it using ordinary least squares regression.
Findings
The results show that climate risk perception improves corporate ESG performance by encouraging green innovation. Heterogeneity analysis suggests that the greater the magnitude of climate risk shocks to the firms, the stronger the risk coping ability and the weaker the environmental regulation, the more pronounced the improvement of climate risk perception on corporate ESG performance. Furthermore, economic consequence analysis shows that the enhancement effect of climate risk perception on corporate ESG performance contributes to increasing corporate value.
Originality/value
This study emphasizes the significance of corporate climate risk perception in enhancing ESG performance. It provides a theoretical basis for enterprises to respond to climate risk and sustainable development.
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The sustainable development of contractor organizations depends highly on bidding decision-making of projects. This current study, leveraging the risk decision-making theory…
Abstract
Purpose
The sustainable development of contractor organizations depends highly on bidding decision-making of projects. This current study, leveraging the risk decision-making theory, attempts to elucidate the process of contractors’ bid/no-bid decision-making and reveal how the process is influenced by their perception of risk. In particular, this study aims to explore the multiple mediating effects of contractors’ trust in owners and risk perception in explaining the relationship between contractual governance outlined in owners’ bidding documents and the bid/no-bid decisions.
Design/methodology/approach
A questionnaire survey was used to obtain data from the Chinese construction industry. The PLS-SEM technique was employed to analyze a dataset of 557 available questionnaires.
Findings
The findings indicate that (1) the contractual governance provided by owners’ bidding documents positively impacts contractors’ bid/no-bid decisions; (2) both risk perception and trust serve as multiple mediators in this relationship and (3) trust mediates the relationship between contractual governance and contractors’ risk perception.
Originality/value
Drawing upon the risk decision-making theory, this study proposes a multiple mediation model for understanding contractors’ bid/no-bid decision-making processes. It contributes to a better understanding of contractors’ bidding decision-making mechanisms, thereby offering theoretical guidance for contractors to make reasonable and informed risk decisions.
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Tourism and crime are closely related phenomena, and security is one of the basic preconditions for the functioning of tourism since tourists and tourist areas have many…
Abstract
Tourism and crime are closely related phenomena, and security is one of the basic preconditions for the functioning of tourism since tourists and tourist areas have many characteristics that make them vulnerable to crime. In this chapter are presented the actual (objective) risk of crime and tourists victimization, visible in statistics on committed crimes and crime victims surveys, and the perceived (subjective) risk of crime, recorded in surveys conducted with tourists. The characteristics which influence the actual and perceived risk of crime and violence are presented by analysing three key elements in the relationship between tourism and crime: (1) tourist (these characteristics are classified as socio-demographic, socio-cultural and psychological); (2) trip (characteristics are the purpose of the trip, travel party, and stage of the trip); and (3) destination (characteristics are crime rates in destination, the occurrence of crime by place and time, type of accommodation and length of stay).
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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 and…
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.
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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 limited…
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.
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Gundula Glowka, Robert Eller, Mike Peters and Anita Zehrer
The vulnerability of the tourism industry to an array of risks, encompassing family-related, small- and medium-sized enterprise-specific, strategic, tourism-specific and external…
Abstract
Purpose
The vulnerability of the tourism industry to an array of risks, encompassing family-related, small- and medium-sized enterprise-specific, strategic, tourism-specific and external factors, highlights the landscape within which small and medium family enterprises (SMFEs) operate. Although SMFEs are an important stakeholder in the dynamic tourism sector, they are not one homogenous group of firms, but have different strategic orientations. This study aims to investigate the interplay between strategic orientation and risk perception to better understand SMFEs risk perception as it is impacting their decision-making processes, resilience and long-term survival. The authors investigate how different strategic orientations contribute to different perspectives on risk among owner-managers.
Design/methodology/approach
Based on a qualitative data corpus of 119 face-to-face interviews, the authors apply various coding rounds to better understand the relationship between strategic orientations and the perceptions of risks. Firstly, the authors analysed the owner–manager interviews and identified three groups of different strategic orientations: proactive and sustainability-oriented SMFE, destination-affirmative and resilience-oriented SMFE and passive SMFE. Secondly, the authors coded the interviews for different risks identified. The authors identified that the three groups show differences in the risk perceptions.
Findings
The data unveil that the three groups of SMFEs have several differences in how they perceive risks. Proactive and sustainability-oriented SMFEs prioritize business risks, demonstrating a penchant for innovation and sustainability. Destination-affirmative and resilience-oriented SMFEs perceive a broader range of risks, tying their investments to destination development, emphasizing family and health risks and navigating competitive pressures. Passive SMFEs, primarily concerned with external risks, exhibit limited awareness of internal and strategic risks, resist change and often defer decision-making to successors. The findings underscore how different strategic orientations influence risk perceptions and decision-making processes within SMFEs in the tourism industry.
Research limitations/implications
The authors contribute to existing knowledge include offering a comprehensive status quo of perceived risks for different strategic orientations, a notably underexplored area. In addition, the differences with respect to risk perception shown in the paper suggest that simplified models ignoring risk perception may be insufficient for policy recommendations and for understanding the dynamics of the tourism sector. For future research, the authors propose to focus on exploring the possible directions in which strategic orientation and risk perception influence one another, which might be a limitation of this study due to its qualitative nature.
Practical implications
Varying strategic orientations and risk perceptions highlight the diversity within the stakeholder group of SMFE. Recognizing differences allows for more targeted interventions that address the unique concerns and opportunities of each group and can thus improve the firm’s resilience (Memili et al., 2023) and therefore leading to sustainability destinations development. The authors suggest practical support for destination management organizations and regional policymakers, aimed especially at enhancing the risk management of passive SMFEs. Proactive SMFE could be encouraged to perceive more family risks.
Social implications
Viewing tourism destinations as a complex stakeholder network, unveiling distinct risk landscapes for various strategic orientations of one stakeholder has the potential to benefit the overall destination development. The proactive and sustainability-oriented SMFEs are highly pertinent as they might lead destinations to further development and create competitive advantage through innovative business models. Passive SMFEs might hinder the further development of the destination, e.g. through missing innovation efforts or succession.
Originality/value
Although different studies explore business risks (Forgacs and Dimanche, 2016), risks from climate change (Demiroglu et al., 2019), natural disasters (Zhang et al., 2023) or shocks such as COVID-19 (Teeroovengadum et al., 2021), this study shows that it does not imply that SMFE as active stakeholder perceive such risk. Rather, different strategic orientations are in relation to perceiving risks differently. The authors therefore open up an interesting new field for further studies, as risk perception influences the decision-making of tourism actors, and therefore resilience.
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Olufisayo Adedokun and Temitope Egbelakin
Of all the deaths associated with disasters, bushfires account for 40% of these fatalities. The resulting fatalities are consequent upon householders’ decision-making, leading to…
Abstract
Purpose
Of all the deaths associated with disasters, bushfires account for 40% of these fatalities. The resulting fatalities are consequent upon householders’ decision-making, leading to late or non-evacuation from at-risk communities. However, while decision-making is a function of risk perception, this paper aims to investigate householders’ perceptions of bushfire risks following the catastrophic Black Summer bushfires of 2019/2020.
Design/methodology/approach
An inductive research approach was adopted. Thirty semi-structured interviews were conducted to elicit qualitative data from southeastern NSW, Australia householders. The data were collected via face-to-face and online Zoom. Each interview was recorded, transcribed using Otter.AI and thematically analyzed with NVivo 12 Pro (Braun and Clarke, 2006, 2019). In addition, inter-rater reliability was done by engaging an independent researcher to code the de-identified data independently. The codes were cross-checked for reliability and adjusted where necessary.
Findings
It was found that bushfire risk perceptions were high among the householders in bushfire at-risk communities following the 2019/2020 Black Summer bushfires. High levels of perceptions were recorded among the participants regarding the likelihood of bushfire occurrence, concern for bushfires, severity of bushfires and vulnerability to bushfire threats.
Research limitations/implications
The study’s results do not reflect all householders in the southeastern part of NSW. It was limited to 30 householders who indicated their intentions to participate and are living in the study area. Therefore, future studies should be undertaken with more participants from broader geographical areas, including emergency responders like firefighters, recovery officers and non-government organizations in charge of recovery operations. This study will add to the prioritization of risk perceptions.
Practical implications
All else being equal, elevated bushfire risk perceptions among participants can potentially decrease the fatalities linked with bushfires and their subsequent ripple effects. This holds particularly true when residents opt for early self-evacuation from at-risk communities.
Social implications
The paper contributes to developing a better understanding of the bushfire risk perceptions underlying the evacuation decision-making of the residents in bushfire at-risk communities in south-eastern NSW of Australia.
Originality/value
The paper contributes to the existing knowledge on bushfire risks by providing insights into residents’ perceptions after the catastrophic 2019/2020 Black Summer bushfires. As a qualitative study, it describes bushfire risk perceptions on four themes: likelihood, concern, severity and vulnerability, which is uncommon in many bushfire studies.
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Frederick Owusu Danso, Kofi Agyekum, Patrick Manu, Emmanuel Adinyira, Divine K. Ahadzie and Edward Badu
Although many health and safety (H&S) studies have widely examined safety risk perception in the construction industry, few studies have explored how this perception influences…
Abstract
Purpose
Although many health and safety (H&S) studies have widely examined safety risk perception in the construction industry, few studies have explored how this perception influences site workers' risk-taking behaviours during construction. This study aims to examine how construction site workers perceive and judge safety risks in risk-taking behaviours of site workers for intervention safety policy framework that may encourage safe work.
Design/methodology/approach
The study employed Pictorial-based Q-Methodology, which documented 63 picture scenarios of risk-taking behaviours from building sites and submitted them for validation from H&S inspectors. In total, 33 pictures emerged as having great potential to cause harm. After using these 33 pictures to elicit data from randomised site workers, the study used Frequency Tabulation, Relative Importance Index (RII) and Kruskal–Wallis Test to analyse the collected data. To fully explain the analysed data for deeper understanding, the study conducted Focus Group Discussions (FGDs) with these site workers to share the thoughts of site workers on these pictures.
Findings
Two distinctive pictures emerged from these analyses: one showing risk-taking behaviour likely to contract internal and skin disease and the other likely to fall from height. One of the implications is that construction site workers are unfamiliar with the dangerous contaminants in the materials the site workers use to work, which can potentially harm the site workers' skin and internal organs. Hence, site workers continue engaging in risk-taking behaviours. The other is that site workers are aware of and can mention catastrophic physical injuries attached to site workers' jobs. However, site workers continue engaging in risk-taking behaviours because of site workers' safety plights and rely on the favour and mercies of a supreme being as coping strategies to escape from these physical injuries.
Originality/value
This study is original in that the study uses picture scenarios of risk-taking behaviours to amass an empirical-based understanding of how site workers perceive and respond to H&S risks during construction. This piece of evidence is missing in the numerous research studies in this area. Again, the findings contribute to the state-of-the-art literature regarding risk-taking behaviours on construction sites.
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