Influence of the “benefit of the doubt” in online auctions

Marketing Letters - In online auctions, as well as in other purchase settings, there are conditions when consumers embrace uncertainty instead of avoiding it. In these cases, consumers prefer not...     

Financial literacy in the digital age—A research agenda

Digital innovations are transforming financial services and resulting changes in consumer behavior and personal money management. Diffusion of pervasive digital technologies offers individuals quick and easy access to various digital services bringing opportunities and challenges into their personal money management. The study aimed to explore how digitalization affects individuals' financial literacy and financial capability. As a result, we identified three main themes in the intersection of finance and digitalization: Fintech, Financial behavior in digital environments, and Behavioral interventions. We propose directions for measuring digital financial literacy, updates to the financial literacy curriculum, and developments of digital learning tools. Further, we highlight collaboration between the public and private sectors to create a fairer and more inclusive economic landscape. Our study contributes to existing research by proposing a framework for digital financial literacy and financial capability and a research agenda for future studies.     

Who Buys Fair Trade and Why (or Why Not)? A Random Survey of Households

We conduct a random survey of Michigan (United States) households to gauge consumer behavior toward, and awareness of, fair trade. Around 58% of respondents have heard of fair trade and just over a quarter have knowingly purchased a fair‐trade product. Of the 38% of respondents who indicated a willingness to pay a premium for a fair trade product, the median premium they were willing to pay was around 20%. We find that those who are politically liberal, female, younger, and have attained higher levels of education are willing to pay higher premiums for fair trade, other factors held constant. Respondents who are unwilling to pay a fair trade premium are divided between not doing so because of a belief that all voluntary trade is already fair and a fear of potential unintended negative consequences on workers.     

Out of control or right on the money? Funder self-efficacy and crowd bias in equity crowdfunding

Our findings extend the entrepreneurship literature by highlighting the mechanism through which self-efficacy can hinder rather than enhance performance in entrepreneurial settings. Using two complementary experimental studies and a third quasi-experimental field study on equity crowdfunding decisions, we demonstrate that self-efficacy is negatively related to decision-making performance. This relationship is mediated by reduced searching effort. Our research also indicates that high self-efficacy funders tend to exhibit a “crowd bias” whereby they over-weight the opinions of the crowd, increasing the likelihood that they will fund poor quality ventures when such ventures are favored by the crowd. We introduce the term crowd bias and explore its effects, establishing that social indicators in the form of crowd cues can exasperate the negative effects of self-efficacy.     

A study of Hong Kong Businessmen's perceptions of the role “Guanxi” in the People's Republic of China

Guanxi is perceived as a major determinant for successful business in China. This research paper investigates the importance of Guanxi from the Hong Kong Businessmen's viewpoint. It confirms previous findings in this area and adds on new dimensions. Therefore, practitioners and academics may further refine their knowledge in this subject.Leung, T. K. P. is an Assistant Professor of Hong Kong Polytechnic University. He specializes in industrial marketing and marketing in China. His current research interests include issues in Guanxi, networking in China, and Chinese negotiation. He has published in referred journals related to the PRC market.Wong, Y. H. is an Assistant Professor at Hong Kong Polytechnic University. He teaches courses in sales management and international marketing. His current research focuses on issues of relationship marketing and Guanxi model. His recent publications include articles in preferred journal and books.Wong, Syson was a lecturer of Hong Kong Polytechnic University and is now a business consultant. She specializes in quantitative methods and China business. Her current consultancy works include a big project in China.     

Bridging the valuescape with digital technology: A mixed methods study on customers’ value creation process in the physical retail space

This mixed methods study investigated how value is created in the physical retail space and how the customer experience is influenced by digital technology. A cross-sectional survey, with both qualitative and quantitative components, was distributed across a heterogeneous sample of 832 customers. The results revealed an overarching model comprised of three interrelated clusters: customer, service provider, and digital technology. We propose that this model can be understood as a valuescape, where customers' specific goals, needs, and desires drive them to interact and co-create value with service providers in the physical retail space, with digital technology either enhancing or disrupting this value co-creation process. The results also show that the importance of aligning digital solutions with customers’ drives increases at the same pace as reliance on technology. The findings offer guidelines on how to utilize digitalization to leverage customer experiences and thus strengthen the attractiveness of physical retail spaces.     

To be different,or to be the same? An exploratory study of isomorphism in the cluster

Entrepreneurial firms are argued to struggle between being different and being the same. To join the debate, we asked this question: How can entrepreneurial firms in a geographically concentrated locale gain both competitive advantage and legitimacy, given the competitive pressures for differentiation and the institutional pressures for conformity? Drawing from the network perspective, we conducted the research in a furniture cluster in Southwestern China. Based on qualitative and quantitative data, we found that peripheral firms tended to be institutionally and competitively isomorphic, while central firms could avoid the tradeoff between institutional conformity and competitive differentiation by creating and using their networks to innovate and at the same time to shape the institutional environment.     

A Eurasian (or a Soviet) Union? Consequences of further economic integration in the Commonwealth of Independent States

On January 1, 2012, the Customs Union of Belarus, Kazakhstan, and Russia took a big step in regional integration by removing all barriers to trade, capital, and labor movements between the three countries. Policymakers have signaled that even this landmark step is merely a way station en route to a comprehensive ‘Eurasian Union’ by 2015. However, is this idea of greater integration a good one, and if so, what shape should the integration take? This article examines the opportunities and challenges for both deeper (i.e., more intensive) and broader (i.e., more inclusive) integration in the Eurasian space and concludes that greater integration will work for all only if it is based on fostering the trade liberalization that has been missing from the region. Moreover, including Ukraine is not necessary for the integration to succeed, but Central Asian nations should be encouraged to follow the example of a liberalized Eurasian Union. Acting as the European Union did in the post-war era, the Eurasian Union could help member countries take the liberalizing steps they could not take on their own.     

Complements or substitutes? A meta-analysis of the role of integration mechanisms for knowledge transfer in the MNE network

The MNE integration literature lacks coherence in the use and effectiveness of different integration mechanisms. In this study, we use meta-analytic techniques to quantitatively synthesize and evaluate the impact of centralization, formalization and socialization on knowledge transfer. Our analysis of 89 independent samples, including 15,506 subsidiaries, shows that socialization facilitates knowledge transfer more strongly than centralization and formalization. Socialization substitutes for formalization’s positive impact, and mitigates centralization’s negative impact on knowledge transfer. We further identify that directionality of knowledge flows is key in explaining the impact of centralization mechanisms. Finally, we point out important systemic problems in current empirical research.     

Unethical,neurotic, or both? A psychoanalytic account of ethical failures within organizations

This paper aims to integrate insights from psychoanalytic theory into business ethics research on the sources of ethical failures within organizations. We particularly draw from the analysis of sources and outcomes of neurotic processes that are part of human development, as described by the psychoanalyst Karen Horney and more recently by Manfred Kets de Vries; we interpret their insights from a stakeholder theory perspective. Business ethics research seems to have overlooked how “neurotic management styles” could be the antecedents of unethical behavior within organizations. After showing the connection between five managerial neuroses and the corresponding potential ethical failures within organizations that have been already identified within business ethics research, we suggest three organizational strategies to counteract these failures. First, we argue that managers should pay greater attention at the complexity of human motivation, avoiding the simplistic view of compliance‐based approaches. Second, we discuss the importance of developing a conversation around values within organizations, enabling healthy individual growth and limiting the emergence of neurotic processes. Finally, we discuss the role of the business ethicist in facilitating such a process, suggesting a parallel between the role of the business ethicist and that of the psychoanalytic therapist.     

Antecedents of supermarket formats’ adoption and usage: A study in the context of non-western customers

This research deals with the process of food retailing modernization—the process through which supermarket formats (supermarkets and hypermarkets) diffuse, replace traditional retail formats and gain market share. The study first divides the process into three components (diffusion, adoption, and usage of supermarket formats), then, through two independent studies, we apply an empirical framework that identifies factors motivating format adoption and usage in the context of non-Western countries. The empirical results, utilizing two surveys involving 961 respondents, indicate strong evidence for most of the hypotheses drawn from the theoretical framework. Specifically, among other findings, the analyses reveal that consumer economic abilities and format outputs comprise key factors affecting format adoption. However, the impacts of these factors vary among the populations in the study. The findings also point to the significant effects of three variable sets on the extent of supermarket use among the adopting consumers regardless of their economic status. These variables include format outputs, religious variables and ethnic-cultural attributes related to food consumption patterns of Muslim-Arab consumers. The article closes with managerial implications and future research.     

Cash,credit, or phone? An empirical study on the adoption of mobile payments in the United States

The purpose of this study is to investigate the effects of consumer factors on behavioral intention to adopt mobile payments. We focus on the proximity mobile payment, which is made feasible by the near-field communications (NFCs) technology. Building upon the theory of reasoned action and technology acceptance model (TAM), a behavioral intention model was established consisting of enhanced cognitive antecedents as well as affective and social antecedents. Cognitive antecedents encompass the factors including relative advantage, perceived usefulness and ease of use in the TAM, and technology characteristics (e.g., responsiveness and mobility); affective antecedents focus on positive and negative emotions associated with using NFC mobile payments. Both antecedents are expected to affect attitudes. In addition, social antecedents examine subjective norms and the influence of network externalities. Data were collected from 394 adult nonusers of NFC mobile payments in the United States via an online survey. The research model was tested using structural equation modeling. The results showed that all three antecedents significantly affected individual consumers’ intention to adopt NFC mobile payments, explaining a significant amount of variance. Both theoretical and marketing implications are discussed in the context of NFC mobile payments.     

Altruistic or egoistic: Which value promotes organic food consumption among young consumers? A study in the context of a developing nation

The present research attempts to understand the importance of altruistic and egoistic value in determining the young consumers’ intention to buy organic food. Environmental concern was considered as the altruistic value, whereas health concern as egoistic value. Using the convenience sampling method, a total of 304 usable responses was collected from young consumers, with the help of self administered questionnaire survey approach. Data analysis was done using two step structural equation modeling (SEM) approach, i.e. measurement model and structural model. Findings indicated that, both altruistic as well as egoistic value influences the intention to buy organic food among young Indian consumers. However, egoistic value was found to have more impact on the consumers’ organic food purchase intention. The present research is one of the initial attempts in the Indian context to understand the importance of values (altruistic and egoistic) organic food consumption among young consumers.     

The role and function of the chief marketing executive and the marketing department: A study of medium‐sized companies in the UK

The unification of “marketing” functions under the control of a chief marketing executive has long been regarded as central to implementing the marketing concept. While not accepting the logic that suggests that marketing orientation implies any particular set of organisational arrangements, this article examines new empirical data concerned with the role and status of the chief marketing executive and the marketing department, in a sample of manufacturing firms, to suggest that they function very differently in different companies.

Such distinctions have important implications for our understanding of how marketing operates in organisations, and the different ways in which it may be developed, both in manufacturing and in other sectors.     

Stock Transfer Patterns in the Hudson's Bay Company: A study of the English Capital Market in Operation, 1670–1730

In recent years, there has been expanding interest in the growth, structure and integration of the early English securities market. However, much of the research on this market has focused on overall market data or the larger chartered companies. The purpose of this paper is to provide an alternative approach to studying the issue of market activity and development, utilising the stock ownership and transfer records of the Hudson's Bay Company. As a successful smaller chartered company it is possibly more representative of the majority of firms utilising the London financial market of the time. The records provide evidence of an organised and efficient market that was accessible to a variety of large and small investors, including a network of stockbrokers. The volume of transfers also indicates a dynamic pattern of market activity rather than a closely held firm which only obtained its initial capitalisation through the market.     

Cogs in the Wheel or Spanners in the Works? A Phenomenological Approach to the Difficulty and Meaning of Ethical Work for Financial Controllers

Journal of Business Ethics - The aim of this paper is to propose a new perspective on the difficulty and meaning of ethical work for financial controllers. This is achieved by drawing on concepts...     

Hospital trust or doctor trust? A fuzzy analysis of trust in the health care setting

Are interpersonal trust and organizational trust mutually complementary or substitutable in determining patient purchasing intention? To address this issue, we develop a theoretical model to distinguish and test the interrelationship between the two types of trust in the setting of the health care industry. Using multiple regression analysis and fuzzy-set qualitative comparative analysis, we reveal that organizational trust and interpersonal trust are complements rather than substitutes. We also examine how four primary boundary conditions (i.e., trust propensity, perceived behavioral control, price sensibility, and brand awareness) influence the relationships between the two types of trust and purchase intention. Our findings provide unique insights for health care practitioners to effectively manage trust in hospital-doctor-patient relationships.