The role of materialism,religiosity, and demographics in subjective well-being

In appealing to consumers, marketers need to know what the good life means across various consumer segments. The present study seeks to deepen the understanding of consumer subjective well-being (SWB) by exploring its relationship with selected secular and sacred values. SWB, defined as individuals' cognitive and affective assessments regarding their life satisfaction (Diener, 1984), is treated as the dependent variable in investigating how SWB is influenced by individual consumer materialistic attitudes (a secular value), religiosity (a sacred value), and demographics. Significant differences between high and low religiosity consumers regarding the role of income and materialistic attitudes in predicting SWB were found. Although income and some aspects of materialism are positively related to the SWB of low religiosity consumers, these variables are negatively related to the SWB of high religiosity consumers. This study implies that marketers might benefit from considering consumer religiosity as a segmentation and targeting direction in the design of materialistic positionings and communications. © 1997 John Wiley & Sons, Inc.     

Present bias for monetary and dietary rewards

Experimental Economics - Economists model self-control problems through time-inconsistent preferences. Empirical tests of these preferences largely rely on experimental elicitation using monetary...     

Age misreporting: An empirical investigation using the New Zealand contingents in the Second Boer War

This is a first focused examination of age misreporting in military recruitment. We take advantage of an original dataset comprised of New Zealand military personnel records in the Second Boer War matched with birth historical records. First, we find that age misrepresentation is common: about one third of soldiers on our dataset misreport their ages. Second, we find that soldiers the estimated age-specific mean heights do not change significantly when we change from using reported ages to using true ages. Researchers can prioritise the investigation of true ages on those reporting to be 21 or younger.     

Corporate social responsibility and bank liquidity creation

Under the stakeholder theory hypothesis, reputable corporate social responsibility (CSR) banks are expected to attract more loans and deposits, which in turn strengthens their ability to create liquidity. Our findings support this view. Further analyses reveal that the positive effect of CSR on liquidity creation differs depending on bank size, bank capital, and type of financial crisis. In addition, deposit growth, loan growth, lending rate, and funding rate are potential channels through which CSR influences bank liquidity creation. The findings are not driven by an endogeneity issue.     

Love thy neighbour: Evidence from capital structure decisions

We examine how the peer effects arising not only from the leading firm but also from a slightly better performing firm affect the capital structure decisions of a firm. There is a large body of literature documenting the importance of peer effects, but it is unclear whether managers pay close attention to activities of slightly better performers. This study uses both book- and market-value based approaches to estimate the peer effect measures. Our analysis shows that: (1) our peer effect measures induce the convergence of the follower firms' capital structure towards better performing firms; and (2) the capital structure converges more towards a slightly better performer.