Perceived hazardousness of child-care products and the effectiveness of safety information

Abstract

In the present study, the hazardousness of child-care products as perceived by parents of young children between o and 4 years of age was investigated. Some related factors, such as perceived likelihood of injury, perceived severity of injury, and familiarity with the product, were also studied. Perceived hazardousness is strongly related to the effectiveness of safety information. The results indicate that parents do not think of child-care products as hazardous, and they appear to be very familiar with most of the products investigated. Perceived hazardousness was found to be most strongly related to perceived likelihood of injury and somewhat less strongly to perceived severity of injury. No relationship was found between either perceived hazardousness and familiarity or between perceived hazardousness and objective accident frequencies. It was concluded from this study that, because the perceived hazardousness of child-care products is low, the effectiveness of safety information provided with these products will also be low. Recommendations for improving the effectiveness of safety information are provided.     

Financial liberalization,prudential supervision,and the onset of banking crises

We examine what is perceived as one of the main culprits in the occurrence of banking crises: financial liberalization. As is typically argued, if liberalization is accompanied by insufficient prudential supervision of the banking sector, it will result in excessive risk taking by financial intermediaries and a subsequent crisis. Having evaluated the empirical validity of this hypothesis, we conclude that such a development is, at worse, only a medium run threat to the health of the banking sector. We find that a more immediate danger is the loss of monopoly power that liberalization typically entails. We base our conclusions on an empirical investigation of a panel-probit model of the occurrence of banking crises using macro-economic, institutional and political data.     

Blockchain technology for enhancing supply chain resilience

With the soaring value of bitcoin and frenzy over cryptocurrency, the blockchain technology that sparked the bitcoin revolution has received heightened attention from both practitioners and academics. Blockchain technology often causes controversies surrounding its application potential and business ramifications. The blockchain is a peer-to-peer network of information technology that keeps records of digital asset transactions using distributed ledgers that are free from control by intermediaries such as banks and governments. Thus, it can mitigate risks associated with intermediaries’ interventions, including hacking, compromised privacy, vulnerability to political turmoil, costly compliance with government rules and regulation, instability of financial institutions, and contractual disputes. This article unlocks the mystique of blockchain technology and discusses ways to leverage blockchain technology to enhance supply chain resilience in times of increased risks and uncertainty.     

Are Ethical Banks Different? A Comparative Analysis Using the Radical Affinity Index

This article studies the differences between traditional financial intermediaries (commercial banks, savings banks and cooperative banks) and ethical banks based on property rights, in which the owner decides the ideology, principles, standards and objectives of the organisation. In ethical banking, affinity centres on positive social and ethical values. The article consequently focuses on an index proposed both to differentiate ethical banks from other types of banks, and also to pinpoint the differences between the various ethical banks themselves. This is the Radical Affinity Index (RAI), which groups banks together in terms of their stance on ethical commitment, concentrating on ethical ideology and principles (information transparency, placement of assets, guarantees and participation) and using a sample of 114 European banks. The evidence shows that transparency of information and placement of assets are factors that differentiate ethical banks from other financial intermediaries. Guarantees and participation are characteristics specific to ethical banks; these variables, however, do not offer clear evidence to our analysis.     

Banking is essential,banks are not. The future of financial intermediation in the age of the Internet

This paper examines the question how the future of financial intermediaries and banks as special financial intermediaries may look like in the age of the Internet. The reduction of transaction costs caused by the Internet will reduce the barriers to enter the market for financial products, because there may be no longer a need to run a large system of cost-intensive branches. But as closer examination of the functions of financial intermediaries shows, not everybody can sell and distribute financial products. This is true because of asymmetric information problems in financial business which require an intermediary with a good reputation and because of the need to keep large funds of capital to transform the risk of assets. Both requirements represent an important barrier to enter the market for financial intermediation. Not every financial product will be exposed to more competition due to the rise of the Internet but only products which are standardized and have a low risk. Moreover, large firms with high amounts of capital and a good reputation can be considered as new competitors for banks.     

Endogenous financial intermediation and real effects of capital account liberalization

We consider lending and investment under asymmetric information in a small, developing economy. We allow different forms of financial contracts to arise endogenously. Financial intermediaries mitigate a moral hazard problem in investment choice through costly monitoring. We then examine the impact of opening the capital account on both welfare and the structure of lending contracts. Liberalizing the capital account may improve or worsen the efficiency of financial intermediaries, leading to an improvement or worsening of the aggregate composition of investment projects. We show that efficient financial intermediaries in the closed economy are neither necessary nor sufficient for a capital account liberalization to improve welfare.     

Antecedents of mobile payment loyalty: An extended perspective of perceived value and information system success model

Drawing on the information system success model and perceived value theory, we develop a research model to examine factors that may affect user satisfaction and loyalty of mobile payment platforms. Empirical data was collected from users using Alipay and WeChat Pay in China, and a total of 410 valid responses were gathered for data analysis. The results show that the multi-dimensional formative perceived value including benefits and sacrifice is important determinant of mobile payment user satisfaction and loyalty. The three benefit dimensions of functional value, experiential value and social value are more important value components than the two sacrifice dimensions of risk and cost, and experiential value is the dominant component of mobile payment users' value perception. As for the antecedents of perceived value, system quality and service quality mainly affect perceived benefits, while information quality has a greater impact on risk. The research results provide the contribution of specific value dimensions to users' perceived value and the impact of quality characteristics on specific perceived value for mobile payment platform providers, thus helping them to adopt effective strategies to strengthen market competitiveness and retain existing users.     

Customer perceived value,satisfaction, and loyalty: the role of willingness to share information

This study proposes and tests an integrative model to examine the relationships among customers’ willingness to share information, satisfaction, perceived value, and loyalty in a retailing context. This study extends research on customers’ willingness to share information from trust and privacy concerns toward key outcome measures such as perceived value, customer satisfaction, and loyalty, and is thus among the first to model customers’ willingness to share information with companies in robust theoretical retailing frameworks. The proposed relationships were tested using data from two retailing contexts – groceries (N = 429) and do-it-yourself (DIY) (N = 895). Findings from the two samples suggest that both perceived value and satisfaction are significant determinants of customers’ willingness to share information with a company. Although some differences emerge in the two studies, structural modeling largely supports the hypothesized framework and positions customers’ willingness to share information as an important antecedent of their loyalty intentions and behavior. This study provides practitioners with preliminary insight into the relationship between willingness to share information and perceived value, customer satisfaction, and customer loyalty. This study advances retailing research, as it is one of the few empirical studies investigating the role of customers’ willingness to share information in driving loyalty and its relationship with perceived value and satisfaction in a retailing context.     

Value co-creation via information and communications technology

The aims of the present work centre on determining whether co-created value constitutes a competitive advantage for firms, and whether it is capable of influencing consumer behaviour. Applying the service-dominant logic perspective, the work examines the firm's capabilities in the context of its business-to-customer (B2C) interactions, focusing on information and communications technology (ICT) as a particular driver of value co-creation. Taking this B2C perspective, ICT is measured, from the firm's point of view, and customer perceptions are analysed, using the variables ‘value co-creation’, ‘perceived value’ and ‘loyalty’. The sample consists of 100 service firms and 572 of their customers. The findings indicate that ICT capabilities have a direct effect on value co-creation, as does value co-creation on perceived value and loyalty.     

Private information,institutional distance,and the failure of cross-border acquisitions: Evidence from the banking sector in Central and Eastern Europe

In this paper, we develop an information theory-based framework about cross-border acquisitions in the financial intermediation industry. We argue that even though “soft” information embedded in customer relationships of local banks can, in principle, help multinational banks (MNBs) overcome informational disadvantage in host countries, the cost of verification of this private information may, paradoxically, make local banks with significant customer relationships unattractive for cross-border acquisition. Further, we propose that the relationship between the amount of customer information embedded in an incumbent bank and the likelihood of its acquisition by a MNB is modified by the institutional distance between the home and host countries of the MNB. Specifically, the strength of the negative relationship increases with institutional distance between home and host countries because the verification cost of private information increases with institutional distance. Our hypotheses find support in the context of Central and Eastern Europe.     

The Effect of Customer Orientation on Smaller Sized Service Firms and on the Market: A Multilevel Application Embracing Firms and Customers

The aim of the present work is to ascertain the importance of customer orientation as a business strategy within the smaller services sector. The adoption of customer orientation is measured from the firm's point of view, and its effect on financial performance is analyzed. Customer perception is analyzed, using two variables, perceived value and loyalty. The sample consists of 100 Spanish rural tourism enterprises and 572 customers. The findings reveal that customer orientation has a direct effect on perceived value, and perceived value has a direct effect on loyalty toward the firm. Furthermore, customer orientation contributes to the achievement of financial performance.     

Effects of Materiality, Risk, and Ethical Perceptions on Fraudulent Reporting by Financial Executives

This paper examines fraudulent financial reporting within the context of Jones' (1991) ethical decision making model. It was hypothesized that quantitative materiality would influence judgments of the ethical acceptability of fraud, and that both materiality and financial risk would affect the likelihood of committing fraud. The results, based on a study of CPAs employed as senior executives, provide partial support for the hypotheses. Contrary to expectations, quantitative materiality did not influence ethical judgments. ANCOVA results based on participants' estimates of the likelihood that a "typical CPA" would manipulate reported results indicated that both materiality and risk significantly influenced the likelihood of fraud, but that the perceived morality of the action did not. In contrast, results based on participants' self-reported behavior indicated that materiality and the perceived morality of the action would influence the likelihood of fraud, but that financial risk would not. Regardless of the measure used for the likelihood of fraud, the results indicate that financial executives continue to be influenced by quantitative materiality when misstatements are clearly material on qualitative grounds.     

Consumer financial information processing: An integrated approach to examine individual differences

This study applied an integrated approach to construct a hierarchical framework for consumer financial information processing. Individual differences in customers' psychological, cognitive and motivational characteristics were examined as antecedents. Using data collected from a sample of 613 U.S. adults, this study used the structural equation modeling method to identify significant direct and indirect relationships amongst personality traits, financial self-efficacy, financial information-gathering ability, search motivation, financial information sufficiency and the utilization of heuristics and systematic financial information-processing modes. The results showed that consumers' information sufficiency (+) directly explained the application of the heuristic mode, whereas consumers' information gathering ability (+), motivation to search (+) and information sufficiency (+) directly explained the use of the systematic mode. Financial self-efficacy demonstrated positive indirect associations with both heuristic and systematic modes. The results also revealed that personality traits including agreeableness, emotional stability and extraversion indirectly explained the use of information-processing modes. Agreeableness (−) and emotional stability (+) were indirectly associated with both heuristic and systematic information processing modes, whilst extraversion (+) was only indirectly associated with the heuristic mode. Openness (+) was the only trait that was directly associated with the systematic mode. This study contributes to the literature on consumer financial information processing by connecting individuals' psychological, cognitive and motivational characteristics. The findings of this study provide valuable insights and policy and practical implications within the industry.     

Corporate governance,female directors and quality of financial information

The aim of this study is to examine whether gender diversity on audit committees (hereinafter, ACs) influences financial reporting quality by using panel data of Spanish listed firms. The financial reporting quality of firms is measured by the type of opinion received in the audit report. We estimate various panel data models of audit opinions and control for factors that are traditionally found to impact audit opinions. This study provides evidence to support the hypotheses that the percentage of females on ACs reduces the probability of qualifications due to errors, non‐compliance or the omission of information. Furthermore, the results also find that the percentage of female directors on ACs, the percentage of independent female directors on ACs and ACs chaired by females increase the likelihood of further transparency by disclosing audit reports with uncertainties and scope limitation qualifications.     

The Relationship between task complexity and information search: The role of self‐efficacy

Prior research suggests the complexity of a product choice task is inversely related to the extent of consumers' external information search. The resource‐matching perspective holds that cognitive effort (e.g., external information search) is greatest when available cognitive resources (e.g., as determined by self‐efficacy) match the cognitive demands of a task (e.g., perceived task complexity). Within a brand‐choice context, the relationship between self‐efficacy and extent of information search appears nonmonotonic. In support of the resource‐matching perspective, consumers conduct the most extensive information search when their self‐efficacy matches perceived task difficulty. © 2007 Wiley Periodicals, Inc.     

Corporate sustainability reporting: An innovative tool for the greater good of all

Most publicly traded companies issue sustainability reports—also known as corporate social responsibility reports—that contain an extraordinary amount of multidimensional (e.g., environment, human rights, labor practices and decent work, product responsibility, society) longitudinal quantitative and qualitative data that is available to the public. Unfortunately, corporate social responsibility (CSR) reports are vastly underutilized due to perceived complexity. This article explains the Sustainability Performance Assessment (SPA) System, a teaching and mentoring tool for assessing CSR report information. Students reported a deeper understanding of sustainability as an overall concept, sustainability from a business perspective, and multifaceted sustainability performance information presented in CSR reports. The real world research-focused SPA tool transforms sustainability from a philosophical and abstract concept to something of tangible value in everyday life for consumers, employees, and international stakeholders.     

Trade credit and bank finance: Financing small firms in russia

This paper argues that Russian financial markets are more developed than typically supposed. I show that non-financial firms, suppliers of credit to other firms, support the role of financial intermediaries in helping to surmount problems of information asymmetries. Trade credit works as a signal; firms receiving it obtain access to bank loans. I test this hypothesis using data from my survey of 352 firms in Russia in 1995. Firms using trade credit are shown to have a higher probability of acquiring bank credit.     

Quantity and quality of information and SME financial structure

We test whether the amount and/or quality of financial statement information affects the financial structure of small and medium-sized enterprises (SMEs). Belgian SMEs are used, because there are important differences in disclosure and audit requirements among them. Consistent with the traditional view that asymmetric or incomplete information restricts access to external funds, our results indicate that both the amount and quality of financial statement information are positively related to SME leverage. In addition, we find that leverage is positively related to asset structure, growth (prospects) and median industry leverage, and negatively related to firm age and profitability.     

电子商务环境下中间商的价值转变

信息技术的发展给中间商带来极大的挑战 ,使中间商的传统功能不断弱化 ,这主要表现在信息沟通枢纽作用的下降 ,市场价格发现功能的弱化 ,促进交易实施功能的降低以及资金融通作用的下降四个方面。中间商传统功能的弱化并不代表中间商即将消亡 ,通过建立并分析制造商销售方式选择模型可以发现 ,电子商务环境下中间商出现的只是存在价值的转变。     

Perceived risk and information search. A systematic meta-analysis of the empirical evidence

Does high perceived risk really induce intensive information search? A systematic meta-analysis of 100 empirical findings showing 51 contradictory results, raises severe doubts. For convenience goods, perceived risk usually seems to remain below the tolerated threshold. For complex goods, information search turns out to be only one among several risk-reducing instruments. The findings are also influenced by the extent, type, and validity of risk measurement, and by the operationalization of information search, but measurement problems alone cannot explain the contradictory evidence. Alternative theoretical concepts are proposed and implications for marketing and consumer policy are discussed.