The impact of fairness on trustworthiness and trust in banking

Abstract

Theorists and empirical researchers in marketing and other fields suggest that fairness is important in underpinning trust, which, in turn, is integral to developing and maintaining buyer–seller relationships. However, empirical investigation of fairness in the domain of marketing has, to date, been limited. Consequently, the relationship between fairness and trust is not well understood. Thus, the purpose of this study is to provide a fully developed social exchange model examining the differential effects of various dimensions of fairness on trustworthiness and customers’ trust. Data were collected from customers of banks and were analysed using confirmatory factor analysis and structural equation modelling. Findings of the study show that perceptions of fair treatment on the part of customers are important in driving trustworthiness and engendering trust.     

The impact of the US stock market opening on price discovery of government bond futures

We examine price discovery in sequential markets for the 10-year US Treasury note, German bund, and UK gilt futures over the period 2010–2017. We find that price discovery increases after the opening of the US stock market. Order flows in the bond futures markets are more informative for permanent price changes in the 30-min period after the US stock market opens. A placebo test using US statutory holidays confirms our findings. A cross-market analysis suggests that the increased price discovery in the bond futures is related to returns and net order flows of the US stock market.     

The moderating impact of taste award on the interplay between perceived taste,perceived quality and brand trust

Based on the cue utilization theory and stimulus-organism-response (S–O-R) theory, the objective of the study is to investigate the moderating role of taste award (taste awarded vs. without taste award) on the linkages among perceived taste, perceived quality, brand trust, and willingness to buy. With this aim, the data were gathered from respondents using a structured questionnaire. Structural equation model results provided support for the positive relationship among perceived taste, quality, and brand trust. Brand trust was also revealed as a predictor of willingness to buy. The findings also support the intervening role of perceived quality and brand trust. Multi-group analyses reveal that the influence of perceived taste on perceived quality and brand trust is significantly accentuated by the taste award. Additionally, the interplay between brand trust and willingness to buy is higher in the awarded brand. Theoretical contributions and practical implications for brand producers and retailers are discussed based on the research findings.     

The impact of free and exaggerated prices on perceived quality of services

Previous research in the price-quality area has largely limited its focus to the normal price range and has concentrated on physical goods almost entirely. This study examines the effect of offering a service for free and at an exaggerated price on the perception of its quality. Consistent with the theory developed in this paper, the experimental results suggest that when the tested services are offered for free and for exaggerated prices, they are perceived as lower in quality than when they are offered in a normal price range.     

The impact of personal,market- and product-relevant factors on patronage behaviour in the automobile tyre replacement market

Using a qualitative and quantitative approaches, we investigate the choice behaviour of car owners regarding tyre replacement. In the first part of this study, focus groups are used to draw important insights about sources of tyre replacement and achieve an in-depth understanding of motivations and determinants of consumers’ auto workshop choice. Based on the outcome of the focus groups, we develop and test a conceptual model for car tyre replacement patronage. The behaviour observed with regards to tyre replacement indicates that consumers prefer a one-stop solution for their tyre replacement needs in terms of purchase and affixing of the tyre. Additionally, the mechanic plays a key role in providing information and influencing tyre brand choice of the consumer. Overall, the perceived importance of factors such as price, age, proximity (to tyre shop) and professionalism of service (i.e. service quality) had a direct effect on consumers’ willingness to travel to a tyre shop; while dealer reputation, personal contact (i.e. interpersonal service quality), quick service and gender were found to have mediated effects via dealer trust or brand involvement.     

我国注册会计师行业监管模式的思考

注册会计师行业对经济发展具有无可替代的重要作用,它的发展日益受到政府和社会各界的关注和重视。现阶段我国注册会计师行业监管应选择政府监管与行业自律相结合的模式,这是我国现阶段特定环境因素下的必然选择。     

Customers’ judgments and misjudgments of corporate responsibility communication: A cross‐country investigation of the effects on confidence and trust within the banking sector

Customers’ judgment of corporate responsibility (CR) communication and the effect on confidence and trust as interlinked paradigms are intriguing areas of investigation from both theoretical and empirical perspectives. This research aims to clarify the nature of effective CR communication toward customers by identifying situations of over‐ and undercommunication of CR that might cause misjudgments and therefore lower the level of confidence among customers. The study also provides insights to better explain the link between confidence and trust related to customers’ perceptions of CR communication and compares different judgments and misjudgments regarding the banking industries in Italy and the United Kingdom. The study adopts real and fictitious bank case studies to conduct focus groups investigations of 160 millennial customers’ perceptions of CR communication and how it affects their level of confidence. The findings highlight the role of trust in making independent judgments on CR communications. Some similarities and slight differences in the impact of CR communication on confidence emerge between the countries and greatly depend on the customers’ level of trust in real banks and the influence of the industry effect characterizing the banking sector. This study provides fertile ground for future research into the implementation of a more effective and balanced CR communication strategy to increase customers’ confidence and into the understanding of which communication drivers, apparently independent of CR, affect trust in the long term.     

The impact of consumers' time constraint and conspicuous consumption behaviour on the throwaway society

In highly competitive economies, productivity is always increasing as entrepreneurs, driven by the profit motive, strive to build a better mousetrap. Over time, this has given consumers a wealth of material goods. However, within this type of economy, the consumers need to consume all that is produced or else there will be distortions in the labour markets. However, as it turns out, we are able to consume all that is produced by having transitioned into a throwaway society, but there are environmental consequences associated with the replacing of malfunctioning household products instead of repairing and reusing these products. There are a number of factors responsible for causing consumers to replace a malfunctioning household product as opposed to repairing the product for reuse. The research in this paper will focus on two of these factors. The first factor is the time constraint that consumers are faced with and the second factor is conspicuous consumption. This research uses the results of an international survey conducted in seven different countries at different stages of economic development. The survey was conducted between November, 2015 and December, 2016. The results show that both the time constraint factor and the conspicuous consumption factor are significant in determining that if a consumer will look to replace a malfunctioning household product as opposed to repairing the product for further reuse. Furthermore, as more nations continue to develop economically and their GDP per capita grows, then the environmental impacts resulting from an increasing throwaway society by those nations will yield more hazardous environmental consequences.     

The low effect of perceived risk in the relation between hedonic values and purchase intention

ABSTRACT

This research seeks to identify the influence of perceived risk in the purchase intention environment regarding innovative technological products, and also to understand how brand trust reduces the expected impact of this risk due to the hedonic and utilitarian characteristics influencing purchase intention. Quantitative research was carried out and analysed through structural equation modelling, where the influence of perceived risk on utilitarian value and purchase intention was identified, as well as the influence of brand trust in reducing this risk. The conceptual implications of the study describe as the perceived risk moderates hedonic features less compared to utilitarian features regarding purchase intention, thus demonstrating that emotional relationships are less affected by this risk. The managerial implications suggest that devices with utilitarian characteristics should be more carefully planned according to their brand and complexity, while hedonic products do not require brand trust to guarantee consumers’ purchase intention in the current innovative scenario.     

The influence of eco-label knowledge and trust on pro-environmental consumer behaviour in an emerging market

Consumers are increasingly concerned about the negative environmental implications of purchasing goods, which in turn shape their behaviour. Yet, there are indications that consumers do not always act on these concerns, causing an attitude–behaviour gap. For consumers to make ecologically responsible purchases, they need relevant product environmental information. Therefore, marketers and firms are increasingly integrating more detailed environmental information in their offerings, including eco-labels with externally validated information. This study integrates consumers’ knowledge and trust in eco-labels with their environmental knowledge to determine how these affect pro-environmental consumer behaviour (PECB). The findings suggest environmental and eco-label knowledge is positively associated with attitudes towards the environment, and that positive environmental attitudes and trust in eco-labels affect PECB. This implies that firms, policy-makers and accreditation organisations (i.e. labelling) can educate consumers about eco-labels and the environment to increase PECB. Such strategies will also build consumer knowledge and trust in eco-labels, necessary for facilitating PECB.     

The impact of IT and customer orientation on building trust and commitment in the supply chain

The application of information technologies (IT) to logistics activities may have benefits beyond cost savings, as it can create bonds between the supply chain partners. The objective of this paper is to analyse the influence of customer orientation on the application of IT to the supply chain and of these on the development of channel relationships based on trust and commitment. A questionnaire-based personal survey was conducted among manufacturers. Structural equation modelling was used to test the hypothesis contained in the theoretical model. The results indicate that customer orientation affects the application of IT to logistics, and IT has a positive impact on manufacturer and supplier commitment to the relationship.     

Mapping the impact of home‐ and host‐country institutions on human resource management in emerging market multinational companies: A conceptual framework

While there is a growing literature concerned with multinational companies from emerging markets (EMNCs), it does not contain a robust conception of how institutions shape human resource (HR) practices in such firms. We contribute to filling this gap through developing a framework of how institutions create a range of constraints and opportunities for EMNCs. Specifically, our framework contains three key elements of how MNCs from emerging markets interact with institutions: EMNCs develop approaches that to some extent reflect the perceived strengths and weaknesses of the institutions in the home country (institutional conditioning); the strategies of actors in EMNCs can overcome the weaknesses of the home country by drawing on institutions in other countries (institutional arbitrage); and the actions of EMNCs can reinforce, or create pressures for change in, the institutional context in the countries in which they operate (institutional change/consolidation). By mapping this set of strategies of EMNCs, we contribute to a fuller understanding of the relationship between institutions and HR practices, and we outline how the rise of EMNCs reshapes the global landscape by adding new kinds of firm behavior to capitalist diversity.     

Emotional labor in a non-isolated service encounter - The impact of customer observation on perceived authenticity and perceived fairness

Emotional labor is a frequently discussed topic in the service literature because of its varying effects on customers' evaluation processes. Previous research has primarily investigated the effects of emotional labor from an employee-customer perspective. This article considers customer copresence and argues that the observed interaction between an employee and another customer affects the focal customer's evaluation process. An extended customer-employee-customer model is presented and empirically tested in a pharmacy setting. The findings show that distinctive emotional labor affects customers' perceptions of authenticity and fairness. This study presents a more nuanced account of the effectiveness of emotional labor and provides managers with advice to enhance point-of-sale interactions.     

税费负担、政府规制与企业生态环保意愿——来自我国120个城市的经验证据

在市场经济条件下,作为创富主体的理性企业并不天然地具有强烈的生态环保意愿,因此,生态文明建设就需要政府的积极干预。本文通过我国东、中、西部120个城市的经验证据,实证检验税费负担和政府规制水平对企业生态环保意愿的实际影响及其程度大小。研究发现:企业的税费负担越轻,其生态环保意愿会更强(如税费负担每下降1%,企业固体废物利用率将上升约3%);而政府的规制水平对企业生态环保意愿的实际影响虽符合理论假设但结论并不稳健。结合国情,最后提出改进企业生态环保意愿并提高生态文明度的若干政策建议。     

The impact of online celebrity in livestreaming E-commerce on purchase intention from the perspective of emotional contagion

The purpose of this study is to investigate (1) if online celebrities can directly emotionally influence consumers, and (2) if the other audiences of the same livestream can indirectly emotionally influence consumers to increase their willingness to buy the products recommended by the online celebrities. Therefore, to understand the reasons for the successes of livestreaming e-commerce. Two studies have been conducted: in Study 1, a questionnaire-based survey has been used for data collection and AMOS version 17.0 software was used to analyze the data of the Structural Equation Modelling (SEM); in Study 2, a web data crawler for data collection was developed using python software, and the collected data were processed by ICTCLAS text splitting tool and analyzed by Stata/MP 13.0 software for the econometric model constructed in this paper. This study found that the performance of online celebrities can stimulate consumers' emotions, and thus enhance consumers' purchase intention regarding the products recommended. This study also found that pleasure, arousal, admiration, and emotional trust can influence purchase behavior for cosmetics and clothing. For food products, only pleasure emotion, arousal emotion and admiration emotion can increase the willingness to purchase such products. For other audiences who watch the same Online celebrity for food products, the pleasure, arousal, and admiration emotions can increase searches for, and purchases of the products recommended. This study identified that online celebrities' performances can emotionally influence consumers' willingness to purchase products recommended by online celebrities directly. In addition, the emotions of audiences watching the online celebrities can indirectly influence consumers' willingness to purchase products recommended by the online celebrities.     

A CSR perspective to foster employee creativity in the banking sector: The role of work engagement and psychological safety

The entire service sector has acknowledged the importance of employee creativity. However, the underlying mechanism due to which employees are engaged in creativity has been relatively unexplored. Moreover, where the banking service sector in advanced countries has realized the potential role of employee creativity for a bank's success, the same was not fully realized in the context of a developing country, especially in Pakistan. Against this backdrop, the current study is an effort to explore the underlying mechanism of employee creativity as an outcome of corporate social responsibility (CSR) with the mediating effects of work engagement (WE) and psychological safety (PS) in the banking sector of Pakistan. Data were collected (n = 483) from banking employees through a self-administered questionnaire, which used the paper and pencil method. The hypotheses of the current survey were validated by employing structural equation modeling (SEM) in AMOS software. The results confirmed that employee creativity, as an outcome of CSR, was significantly influenced by the CSR orientation of a bank. Furthermore, PS and WE produced a significant mediation effect (41%) between the relationship of CSR and employee creativity. The findings of the current study are helpful to the banking sector of Pakistan in understanding the CSR-employee creativity mechanism, which is of utmost importance from the standpoint of competition.     

民营企业的政治资源与民营企业多元化投资——以中国民营企业500强为例

This paper argues that the political resources owned by Chinese private enterprises affect their diversification strategy under the context of China’s transitional economy. Based on the sample of top 500 private enterprises in 2004 in China, we find the following empirical evidence: First, political resources owned by private enterprises are positively and significantly related to their degree of diversification. Second, the possibility for private enterprises to diversify their business by entering industries under government regulation is positively related to their political resources. Third, the possibility of related diversification for private enterprise is negatively related to its political resources. Translated and revised from Zhongguo Gongye Jingji 中国工业经济 (China Industrial Economy ), 2008, (4): 5–14     

The impact of industry-wide and target market environmental hostility on entrepreneurial leadership in mergers and acquisitions

Based on survey data from 115 acquisitions completed between 2008 and 2011 by European acquirers from German-speaking countries, we find evidence that entrepreneurial leadership is a strong predictor of exploration and a weaker but significant driver of exploitation outcomes following M&A. Industry-wide environmental hostility negatively impacts the influence of entrepreneurial leadership on exploitation. Target market environmental hostility negatively impacts the influence of entrepreneurial leadership on exploration. Thus, while entrepreneurial leadership is a key success factor of M&A performance by increasing both, post-merger exploration and exploitation, acquirers need to take environmental conditions at the industry and market level into account.     

The retail sector in the Nordic countries: A description of the differences, similarities, and uniqueness in the global market

We present an overview of the retail sector in the five Nordic countries: Denmark, Finland, Iceland, Norway, and Sweden. We apply the Herfindahl–Hirschman Index and the Concentration Ratio to estimate the market concentration in the retail sector in each of those countries. The level of concentration in the retail trade in the Nordic countries is relatively high as compared to other European countries, which is reflected in low customer satisfaction. Furthermore, the Nordic countries have a relatively high proportion of their total population living in the capital area, and we consider how that affects their retail trade.     

Developing the evidence base of patient and public involvement in health and social care research: the case for measuring impact

While patient and public involvement (PPI) in health and social care research has progressed successfully in the last decade, a range of difficulties with the evidence base exist, including poor understanding of the concept of impact, limited theorization and an absence of quantitative impact measurement. In this paper, we argue that a paradigm change towards robust measurement of the impact of involvement in research is needed to complement qualitative explorations. We argue that service users should be collaboratively involved in the conceptualization, theorization and development of instruments to measure PPI impact. We consider the key advantages measurement would bring in strengthening the PPI evidence base through a greater understanding of what works, for whom, in what circumstances and why.