A higher-order model of risk propensity

This study extends the paradigm of risk propensity and empirically investigates a higher-order risk propensity model. Past marketing research on risk propensity offers conflicting conceptualization and theorization. Additionally, past research viewed risk propensity as a first-order construct. The present study extends consumers' risk propensity concept, proposing and empirically assessing a higher-order model with three first-order factors, namely, risk risk-taking attitude, perceived risk, and price consciousness. In this view, the three fist-order factors are shaped by the individual's inherent risk propensity.     

South African consumers' willingness to pay a premium for Karoo Lamb: The influence of subjective and objective knowledge,label information and demographics

In South Africa, Karoo Lamb is a prestigious product associated with free range production. This study examined the influence of subjective and objective Karoo Lamb knowledge, the importance of label information, and demographics on consumers' willingness to pay a premium for Karoo Lamb products. A panel of 355 consumers who had previously purchased lamb/mutton products completed an online questionnaire. The importance of Karoo Lamb label information, subjective Karoo Lamb knowledge and population group had a significant positive impact on willingness to pay a premium for Karoo Lamb. Objective Karoo Lamb knowledge and other demographics did not have a significant impact.     

果冻生产中关键点的选择和控制

本实验主要是在果冻生产线上设置关键控制点,通过对南京福旺食品厂果冻生产线的工序、设备及环境中微生物污染状况的检验及大量的资料查询,确定了以原料、调理充填、杀菌、包装为关键控制点,建立了相应的HACCP计划并提出了相应的改进方法。     

The role of learning motivation on financial knowledge among Vietnamese college students

Using survey data from 730 undergraduates in Vietnam, we find that learning motivation and its components, especially self-efficacy, finance learning value, and achievement goals, significantly correlate with students' financial literacy performance. In addition, these correlations are moderated by student characteristics, among which academic seniority, university type, parents' education, and extra math study during high school matter the most. Our results raise significant implications to policymakers, researchers, and educators that include understanding the role of motivation and incorporating it in financial literacy education and intervention programs and considering the moderation roles that individuals' characteristics play in the motivation-financial literacy link. We encourage more research in these areas.     

The effects of absorptive capacity,knowledge sourcing strategy,and alliance forms on firm performance

This paper explores the relationship between absorptive capacity, knowledge sourcing strategy, alliance forms, and firm performance. Based on the literature, the concept of a knowledge sourcing strategy in alliance contexts is proposed, which can be categorised into two types: a knowledge internalisation strategy and a knowledge access strategy. From an organisational learning perspective, it is argued that a firm's absorptive capacity has a positive influence on a knowledge internalisation strategy, and accordingly a firm's choices of alliance forms are also influenced. R&D performance is also included in the theoretical model in order to generate further managerial implications. Instead of using conventional regression methods, structural equation modelling (SEM) is adopted to conduct path analysis, as SEM is well suited in verifying multiple-dependent models. The arguments advanced are supported by empirical analysis of a sample of 148 alliances.     

First-time buyers' subjective knowledge and the attribute preferences of Chinese car buyers

This research focuses on the subjective knowledge of first time buyers (FTBs hereafter) and how it influences their preference attributes in a market, more specifically, the emerging Chinese car market. Previous research has considered the difference in the subjective knowledge of a product between owners and non-owners but does not account that some non-owners have stronger intentions to make a purchase. Yet, the impact of the purchase goal of FTBs on their subjective knowledge remains unexplained. This research demonstrates that the effect of the purchase goal on subjective knowledge is moderated by product ownership. Specifically, the findings show that the purchase goal only affects the level of subjective knowledge of FTB but not those of potential repurchasing buyers. Furthermore, when segmenting potential FTBs on the basis of their subjective knowledge, the segment of potential FTBs with higher subjective knowledge display similar attribute preferences to owners, while the preference differences are observed when segmenting potential buyers into owners and non-owners. From a managerial perspective, the findings of the research demonstrate the value of using subjective knowledge for consumer segmentation when targeting car buyers.     

The effects of demographic characteristics on consumer information periodical readership and financial knowledge

A telephone survey of French- and English-speaking households in Quebec was conducted to obtain information about money management practices, of use information sources and knowledge of personal finance terminology. Correlations and regressions were performed on data from 234 interviews. An index of consumer periodical readership was related positively to variables for female respondent, English-speaking, urban residence, income and education in the correlations. A financial knowledge index was related positively to variables for income, education, and the periodical index in the correlations. The knowledge index peaked for the 41–55 years of age category. A two-equation recursive model for periodical readership and financial knowledge was tested. A regression on the periodical index had positive effects for income, education and variables for age 56–64 and 65 and over, and a negative effect for rural location. A regression on the knowledge index had positive effects for the periodical index, income, French-speaking and the variable for age 41–55, and a negative effect for female respondent. The needs of lower income consumers may not be met well by consumer periodicals. In terms of financial knowledge, English-speaking consumers in Quebec may be at a disadvantage relative to French-speaking consumers with similar income levels.     

Consumer concern,knowledge and attitude towards counterfeit apparel products

The purpose of this paper was to explore the relationship of three variables (concern with apparel industry issues, knowledge about counterfeiting and attitude towards counterfeit apparel products) with consumer willingness towards paying a premium for non‐counterfeit goods. The intent of the research was to develop a theoretically based foundation from which educators and apparel industry leaders can develop policy regarding counterfeit goods. Will consumer concern and knowledge influence the behavioural intent of paying more for non‐counterfeit goods? We surveyed 244 undergraduate students within a fashion and apparel programme at a large Midwestern university. In this study, willingness to pay more for non‐counterfeit goods increased directly with greater concern, knowledge and attitude towards counterfeit apparel goods.     

Gender differences in financial knowledge,attitudes, and behaviors: Accounting for socioeconomic disparities and psychological traits

A large body of international research finds a persistent gender gap in the financial literacy of women compared to men, but explanations for this gap remain a topic of active debate. In this observational study, we explore the explanatory value of psychological characteristics, in addition to demographic variables and roles in household financial decision making. We begin by documenting the expected gender differences in financial knowledge, attitudes, and behaviors, using a national survey of adult Canadians (n = 21,789) that provides population-level estimates. Next, we contrast these results against a second Canadian survey data set (n = 3,502) where we are able to control for individual differences in psychological traits. Results of OLS regressions suggest that gender is not a significant predictor on three scales of financial capability. Decomposition analysis finds underlying differences in individual characteristics (endowments) explain the majority of the observed gender gap in financial literacy when psychological traits are included in the model.     

The effects of product knowledge on the evaluation of warranteed brands

This study explores the effects of consumer knowledge on respondents' evaluations of both known and unknown brands that include either a 2-year or a 20-year warranty. Both experts and nonexperts evaluated warranty as more important than brand name in their product quality decision. Warranty length was positively correlated with product quality perceptions for both known and unknown brands. With the unknown brand, nonexperts perceived significant improvement in product quality when the warranty length was increased from 2 to 20 years. For the known brand, nonexperts perceived little difference in quality for the two warranty lengths. Experts indicated no significant differences in perceived quality, given the four brand/warranty-length conditions. The results indicate that warranty length is most heavily weighted as a cue to product quality when consumers are not highly knowledgeable, and the brand name is not well known. © 1996 John Wiley & Sons, Inc.     

The relationships of financial literacy with both financial behavior and financial well-being: Meta-analyses based on the selective literature review

This study conducted meta-analyses of the relationships between financial literacy and both financial behavior and financial well-being. Peer-reviewed articles published on financial literacy in the field of consumer studies were collected by July 29, 2020. Fourteen articles were eligible for the meta-analyses. The results showed positive relationships of financial knowledge with desirable financial behavior and financial well-being. Our comparison of objective and subjective financial knowledge indicated that subjective knowledge had stronger relationships with both financial behavior and financial well-being than objective knowledge. These two types of knowledge also had different paths to financial well-being in that subjective knowledge had both direct and indirect effects on financial well-being through financial behavior, whereas objective knowledge only had an indirect effect. The relationship between financial knowledge and financial behavior appeared stronger in cross-sectional data than in longitudinal data. The implications of these results and possible directions for future consumer science research were discussed.     

The effects of traffic light labels and involvement on consumer choices for food and financial products

Traffic light (TL) labels that inform consumers regarding product safety have received increasing attention in different fields. Behind the background of behavioural economics, this paper presents the results of a split‐sample choice experiment conducted in Germany to evaluate the impact of TL labelling on purchases of food and financial products. We hypothesize that consumers experience different levels of involvement with these two types of products, leading to different recommendations regarding the use of TLs. The results show that TLs affect consumer purchases of both product groups by focusing their attention on specific product attributes. For food, whereas the low‐fat attribute has no significant impact on food choices that do not include TLs, this attribute has a positive impact on choices once it is signalled with a TL label. The positive evaluation of the organic production attribute of a food product without a TL decreases when the same product is labelled with a TL. In the case of financial products, TLs significantly reinforce the impact of all characteristics on choice probability. TLs also generate a halo effect with regard to return variance. Although consumers demonstrate different levels of involvement for the two types of products, involvement does not always impact the evaluation of attributes. Compared with less involved consumers, more involved consumers exhibit more heterogeneous evaluations of the return variability attribute in the case of the financial product and the organic attribute in the case of the food product.     

Estimating the effects of nutrition label use on Canadian consumer diet‐health concerns using propensity score matching

The overarching goal of nutrition labelling is to transform intrinsic credence attributes into searchable cues, which would enable consumers to make informed food choices at lower search costs. This study estimates the impact of nutrition label usage on Canadian consumers’ (n = 8,114) perceived diet‐health concerns using alternative propensity score matching (PSM) techniques. We apply a series of tests and sensitivity analyses to overcome issues of endogeneity and selection bias frequently found in studies of diet‐health behaviour and to validate the impact of exposure to nutrition facts labels for users vs. non‐users. Our results support the notion that consumer uncertainty and related food‐health concerns are linked to their information behaviour, but not in straightforward manner. Dominant subjective food attributes, such as taste, convenience and affordability, may in fact outweigh the benefits of information about healthier, alternative food choices. In order to change dietary health behaviour, food manufacturer and policy makers alike need to adopt communication instruments that better account for differences in preferences, shopping habits and overall usage patterns of nutrition labelling information.     

Young adults’ borrowing to purchases of desired consumer products related to present‐biased temporal discounting,attitude towards borrowing and financial involvement and knowledge

The aim is to investigate how present‐biased temporal discounting caused by feelings of financial deficit, attitude towards borrowing and financial involvement and knowledge determine young adults’ likelihood of borrowing to purchases of desired consumer products. A sample of 273 young adults aged 18–30 years answered an online questionnaire including experimental treatments to induce present‐biased temporal discounting, followed by questions about attitude towards borrowing, financial involvement/knowledge and financial resources. In different treatment conditions, participants rated the likelihood of borrowing to purchases of desired consumer products at prices judged to be unaffordable or to replace purchases of equally expensive products in the future but not immediately. In a control condition, participants rated the likelihood of borrowing to an equally expensive, already purchased product to be paid immediately. A higher likelihood of borrowing to purchases of the desired and already purchased unpaid products was observed, but the difference to the needed products was not statistically significant. Likelihood of borrowing was strongly suppressed by a negative attitude, in all between‐group conditions equally influenced by self‐assessed financial resources but unaffected by financial involvement/knowledge. Both financial involvement/knowledge and a negative attitude decreased choices of months of instalment payments with the consequence that the monthly repayment cost increased.     

Financing knowledge,risk attitude and P2P borrowing in China

The advance of Internet technology has provided a convenient market platform for matching lending and borrowing parties, but many consumers still hesitate to use online borrowing. To better understand consumer behaviour in online borrowing, we use nationally representative survey data in China to explore factors affecting consumer use of one type of online borrowing, person to person (P2P) borrowing. Through empirical analyses, we find that financing knowledge and risk attitude are two key factors associated with P2P borrowing. Results show that financing knowledge is directly associated with P2P borrowing, while risk attitude through an instrument variable is associated with P2P borrowing also. Given these results, an effective way to expand the consumer Internet borrowing market in China is to enhance consumer financial literacy education.     

Choice deferral: The interaction effects of visual boundaries and consumer knowledge

Choice deferral is a common and lousy phenomenon for companies and consumers. This research examines how visual boundaries (by-alternatives vs. attributes) interact with consumer knowledge to influence choice deferral. Five studies (N = 1,245) and two single-paper meta-analyses demonstrate that by-alternative (vs. attribute) visual boundaries reduce choice deferral and that choice difficulty mediates this effect. The research also shows that these effects are stronger for less knowledgeable consumers. However, the interactive effect of visual boundaries and consumer knowledge on choice deferral depends on task and context characteristics. We discuss future research about choice deferral moderators and how to facilitate consumer choice.     

The effects of financial literacy on the borrowing behaviour of Turkish financial consumers

Our research attempts to measure the effects of financial literacy of Turkish financial consumers on the borrowing behaviour. A questionnaire is administered to a sample of 550 people in the city of Eskisehir. In‐depth interviews are undertaken with 10 financial consumers to support the findings. Findings of the study indicate differences in the borrowing behaviour of consumers with different levels of financial literacy. Considering the relationship between financial literacy and borrowing behaviour, we suggest that attempts to increase financial literacy of financial consumers may have important implications in the prevention of excessive borrowing.     

论企业的财务风险及其控制

随着我国经济的快速发展,竞争的日益激烈和贸易的国际化进程越来越快,这些都给企业集体经营和管理带来了很大的挑战.     

有关企业财务风险的研究

当前,国内很多企业存在非常高的财务风险,发展趋势令人担忧,预防和解决财务风险的任务日益紧迫.建立在对风险与风险管理的全面理解的基础之上,本文浅析了企业财务风险管理的影响因素,并对企业如何防范企业财政风险给出了相关建议.     

The Internetalisation of information,knowledge, and interaction components of the firm's internationalisation process

Abstract

Transcending traditional national borders, the Internet is an evolving technology that has opened up many new international market opportunities. However, ambiguity remains, with limited research and understanding of how the Internet influences the firm's internationalisation-process components. As a consequence, there has been a call for further investigation of the phenomenon. Thus the purpose of this study was to investigate the Internet's impact on internationalisation-process components, specifically, information availability, information usage, and interactive communication, with international market growth. Analysis was undertaken using structural equation modelling. Findings highlight the positive mediating impact of the Internet on information availability and usage, with the international market growth of the firm.