Risky choices in new venture decisions—experimental evidence from Germany and the United States

This article presents a model of entrepreneurial risk-taking behavior in different cultural settings. Young entrepreneurs and entrepreneurship students in Germany and the United States were tested by means of an experimental design to evaluate the underlying model and to identify cultural differences in the decision to start a company. The central research question states: How does the cultural context influence the decision-making and risk-taking behavior of entrepreneurs? The overall result of the international sample indicates that the significant differences between entrepreneurs and nonentrepreneurs in risk-taking behavior are culturally driven. Thus, this study extends earlier US studies that distinguish between risk propensity and risk perception in respect of entrepreneurs’ risk behavior within an international, intercultural sample. Furthermore, the survey researches the influence of the personal traits overconfidence and worry. From a managerial perspective, “would-be entrepreneurs” can use the conducted experiment as an individual diagnostic instrument, making it possible to identify individual anomalies in risk and decision-making behavior and, consequently, contribute to a better understanding of suitable entrepreneurial behavior as well as to reveal discrepancies between self-assessment and actual behavior.     

What's in the box? Investigating the benefits and risks of the blind box selling strategy

This study explores the benefits and risks of the blind box selling strategy, a unique type of marketing approach wherein consumers purchase a package from a retailer without knowing its content. To this end, this study develops a new framework by incorporating hedonic benefits, perceived risk, risk propensity, customer delight, and brand evangelism in an integrated conceptual model. The findings of a survey of 486 respondents demonstrate that hedonic benefits have a positive influence on customer delight, while perceived risk has a negative effect, and risk propensity moderates the relationship between the two constructs. The findings also reveal that customer delight stimulates brand evangelism and mediates the relationship between hedonic benefits, perceived risk, and brand evangelism. This research highlights the importance of the blind box selling strategy and provides valuable managerial insights for brand managers.     

Adoption and usage of online shopping: An empirical analysis of the characteristics of “buyers” “browsers” and “non-internet shoppers”

We empirically study and model how socio-demographic variables, attitudes and beliefs towards Internet shopping affect both the adoption decision and usage of the online shopping channel. Previous research on online shopping focuses on whether to adopt online shopping. This paper extends this research by delineating non-adopting individuals into non-browsing and browsing. Our results demonstrate that there is a fundamental behavioural difference between three forms of behaviour: that is, those that purchase online, those that browse online but then purchase in-store and those that do not shop online at all.     

Are You Still with Us? A Study of the Post-Adoption Determinants of Sustained Use of Mobile-Banking Services

This research develops and empirically tests a theoretical model that explains sustained use of mobile banking services. While an extensive array of research has examined various theoretical antecedents of the intention to adopt and use new technologies, only a handful of studies have examined the extent of current usage of a system. Moreover, despite the huge market potential of and recent technological advancements seen in the mobile-commerce market, little is known about the factors that can influence sustained use of integrated mobile financial services after adoption. The present research examines the extent of mobile banking service usage of 370 Korean mobile-baking users in the post-adoption stage. The results of the study indicate that perceived usability, channel preference, and perceived value are three major determinants of sustained mobile banking use. The model further extends and explains that good menu design is a dominant factor in perceived usability of m-banking services, while low monetary costs (i.e., charges and fees) and provision of various banking functions can improve m-banking users' perception of the value of m-banking services. Along with the suggested model, the presented case of factors promoting successful m-banking services will help many mobile industries around the world envisage a successful and stable mobile–financial services market and accelerate their development. Implications of the findings and future research directions are also discussed.     

Organizational Adoption of Web 2.0 Technologies: An Empirical Analysis

While Web 2.0 technologies such as blogs, wikis, and social networks have been popular in the consumer space, there is significant variation in adoption of Web 2.0 technologies in business. Yet, little is known about why firms adopt Web 2.0 technologies. There is a paucity of empirical research examining the antecedents of the use of Web 2.0 technologies in organizations. Drawing on the Technological-Organizational-Environmental theoretical framework, our study presents and empirically tests a model of factors associated with organizational adoption of Web 2.0 technologies. We find that importance to open standards is positively associated with the propensity for adoption of Web 2.0 technologies. Further, larger organizations are found to have a higher propensity for adoption. Finally, industry knowledge intensity is found to be positively associated with a higher propensity for adoption. Our results suggest that open architectures, firm size, and industry knowledge intensity play pivotal roles in Web 2.0 technology adoption. The study sheds light on antecedents of organizational adoption of Web 2.0 technologies and can help researchers and practitioners build an understanding of what factors are likely to motivate firms to adopt Web 2.0 technologies.     

Initiating Negotiations: The Role of Machiavellianism, Risk Propensity, and Bargaining Power

Initiation is an often-overlooked yet essential stage of the negotiation process. This study examined the effects of two measures of personality—Machiavellianism and risk propensity—and relative bargaining power (as based on multiple situational factors) on three phases of the initiation process—engaging a counterpart, making a request, and optimizing the request. Using a multi-scenario approach, one hundred fifteen participants indicated their initiation preferences for three distinct negotiations. The results of repeated measures ANOVAs indicate that bargaining power influences an individual’s decision to initiate negotiations. In addition, those high in Machiavellianism choose to initiate negotiations even when relative bargaining power is low, whereas those high in risk propensity tend to optimize their requests. The implications of these findings for practitioners and future research are discussed.     

Propensity to plan,financial capability,and financial satisfaction

Propensity to plan is an indicator of financial capability that contributes to consumer financial well‐being. Previous research has shown that propensity to plan is positively related to objective financial well‐being but little research was found to examine its association with subjective financial well‐being. Using financial satisfaction to measure subjective financial well‐being, this study addressed this research gap and had three objectives: (1) to explore factors associated with propensity to plan, (2) to examine the association between propensity to plan and financial capability factors, and (3) to examine the association between propensity to plan and financial satisfaction. Using data from the 2015 US National Financial Capability Study, the results showed socioeconomic differences in propensity to plan. The results suggest consumers with more economic resources had higher scores in propensity to plan. In addition, propensity to plan was positively associated with financial capability factors, suggesting financial planning is a desirable financial behavior. Finally, propensity to plan made unique contributions to financial satisfaction after controlling for socioeconomic and other financial capability factors.     

商业银行偿付能力风险、流动性风险与银行体系风险

宏观审慎监管需要微观基础.研究商业银行偿付能力风险与流动性风险和银行体系风险的关系,有助于监管当局制定合适的监管工具,有效管理银行业的系统性风险.中国未曾爆发过真正意义的银行业危机,因而研究影响银行业系统性风险的因素成为难题.在借鉴风险二维定义属性基础上,本文对商业银行偿付能力风险和流动性风险如何影响银行业稳定进行了实证分析.分析结果表明,当商业银行偿付能力上升时,银行风险承担会上升,进而增加银行倒闭的预期损失;商业银行流动性风险的上升也会增加银行倒闭的预期损失;商业银行偿付能力提高时,流动性风险会降低;商业银行流动性风险上升时,偿付能力风险也上升.     

Channel Surfing,Brand Loyalty and Risk Propensity: A Segmentation Approach to Modelling Consumer Switching Behaviours in the USA

This study explores North Americans' propensity for change in the context of consumer switching behaviours: channel surfing, brand loyalty and political loyalty. A proposed framework based on an adoption/diffusion explanation suggests that there is an inverse relationship between age and risk propensity, a positive relationship between males and risk propensity, and a positive relationship between risk propensity and the three switching behaviours mentioned above. A structural equation test of the adoption/diffusion model indicates that the framework is an acceptable basis for understanding the dynamics of demographics, risk and switching behaviours. A subsequent cluster analysis suggested that consumers may be categorized into four segments which we label Hotdoggers, Clamdiggers, Ho-Daddies and Gremlins. A surprising finding was that young women appear to exhibit greater risk propensity and less brand loyalty than young males, though males tend to channel surf more. Several implications for marketers are discussed.     

The effects of organizational sampling frame selection

This paper extends the work of prior researchers by empirically investigating the general hypothesis that biases in sample sources are sufficient to significantly alter the results of empirical research. Data were gathered from firms listed in one or more of the following three sample sources: Dun and Bradstreet's Regional Directory-Houston, the Directory of Texas Manufacturers, and the Texas State Sales Tax Files. A model of venture performance was adopted based largely on previous research. Results of the analysis indicate a strong presence of sample source bias in the data, despite the uniform manner in which the data were gathered and the variables constructed.     

Exploring the animosity domain and the role of affect in a cross-national context

PurposeThe purpose of this paper is to contribute to the development of animosity theory in three areas; construct domain, the mediating role of affect and model testing.Design/methodology/approachExploratory and empirical research is carried out in two countries in order to explore the domain and to test the factor structure and the hypotheses through confirmatory analysis.FindingsWe find animosity is a four-dimensional construct which impacts buying behavior through affect.Originality/valueThe research extends the domain of the animosity construct to a four-dimensional structure rather than the two-dimensional structure used in most previous studies. It is the first study to empirically test an extended animosity domain and investigate the mediating role of affective emotional responses between animosity and buying intentions.     

Antecedents of the propensity to learn management practices and their impacts on firm outcomes in emerging markets: A Bayesian Model Averaging approach

This article explores the factors that motivate firms to learn new management practices. The hypotheses are empirically tested using a representative sample of 3676 small, medium and large firms from four South Asian countries and across all main sectors of economic activity. Given that we know little about the antecedents of the propensity to learn management practices in emerging markets, the study employs Bayesian Model Averaging approach to overcome the potential issue of model uncertainty. The results reveal that market competition, resource allocation towards internal and external R&D, good quality mobile network coverage and the use of external certified financial auditors have all positive and significant effects on the propensity to learn management practices. The results also suggest that private intellectual property rights protection in the context of inefficient legal systems can deter firms from learning, perhaps in fear of legal ramifications. Finally, the study shows that firms with a higher propensity of learning management practices are more likely to become profitable while exhibiting higher levels of both potential and actual innovation.     

Leadership Spiritual Behaviors Toward Subordinates: An Empirical Examination of the Effects of a Leader’s Individual Spirituality and Organizational Spirituality

This study notes three research requirements in workplace spirituality namely; need for conducting empirical studies, building on the existing research, and linking spirituality to organizational topics in general and leadership in particular. It also notes that the existing literature indicates a requirement for examining the spiritual sources of a leader’s spiritual behaviors toward subordinates. To address these research requirements in workplace spirituality, this study conducts an empirical examination of the effect of two spiritual factors—leader’s individual spirituality and organizational spirituality—on leadership spiritual behaviors toward subordinates. It specifies and empirically examines a direct effects model hypothesizing direct effects of these two variables on a leader’s spiritual behaviors toward subordinates. It also specifies and empirically examines a moderating effect model hypothesizing that organizational spirituality will moderate the relationship between a leader’s individual spirituality and the leader’s spiritual behaviors toward subordinates. The results of this study provided support for the direct effects model but not for the moderating effect model. Specifically, in the direct effects model, a leader’s individual spirituality accounted for statistically significant variance in leadership spiritual behaviors toward subordinates but organizational spirituality did not.     

Using Attribution Theory to Help Frame Moral Dilemmas: An Empirical Test of the President Clinton – Monica Lewinski Case

This study extends theapplication of attribution theory to analyzemoral dilemmas. Kelley's model of causalattribution is proposed as a pedagogical toolin helping students organize and evaluatecomplex moral dilemmas while avoiding commonperception errors. By posing three questions,students are challenged to identify patternsand context of behaviors that help arrive atthe source cause(s) of those behaviors. To testthe usefulness of Kelley's model in analyzingmoral dilemmas, the President Clinton – MonicaLewinski case is empirically tested. Resultssupport the usefulness of Kelly's model ofcausal attribution as a valid and useful toolfor students in framing complex moral dilemmasand avoiding common perception and attributionerrors.     

Brand switching in clothing: the role of variety‐seeking drive and product category‐level characteristics

The study explores the impact of internal factors such as variety‐seeking drive, loyalty, involvement, perceived risk, pleasure and similarity perceptions on brand‐switching propensity in clothing purchases using multiple regression. The model derived shows that five internal factors including involvement, perceived risk, loyalty and variety‐seeking drive have an impact on brand switching propensity. The findings highlight that highly involved and loyal consumers are likely to show brand‐switching propensities in their clothing purchases, thus buying from a repertoire of brands and stores. These findings imply that retailers should ensure that their clothing brands or stores are among those in the multi‐brand repertoire of the consumer.     

Service value revisited: Specifying a higher-order, formative measure

Recent marketing literature pays particular attention to customer value because of the potential impact on customer behavior and, ultimately, firm performance. Whereas some studies conceptualize customer value in a unidimensional manner, more recent approaches take a multidimensional approach, generally conceptualizing value as composed of various benefits and sacrifices. However, nearly all of these studies consider value components in a reflective manner, which is not only problematic but in many cases conceptually incorrect. In addition, recent customer value research includes service components to define and operationalize the construct. This study suggests that customer value in service contexts, or service value, represents a higher-order, formative construct with benefit and sacrifice components. Specifically, the authors propose a formative model of service value with four components: service quality, service equity, confidence benefits, and perceived sacrifice. A multiple-industry study substantiates the contention that this higher-order, formative approach best models value. The results theoretically and empirically support the conceptualization of service value with formative components, and the measure is robust and works well across multiple service contexts.     

Consumer intentions to engage in s-commerce: a cross-national study

Social media has reached global proportions; yet, little is known about how consumers engage with firms in ways that lead to social commerce (s-commerce) – an emerging area of importance in the literature. This study addresses this gap and extends previous research by examining factors that influence consumers’ intentions to engage in s-commerce in four countries: Chile, Spain, South Africa and Australia. Specifically, this study develops and tests a model of consumers’ intentions to engage in s-commerce through brands’ Facebook pages incorporating personal variables (involvement in brands’ products and services, satisfaction with brands’ Facebook page), trust variables (message credibility of Facebook posts, trust in firms’ Facebook) and social variables (peer communication, social media dependency, online social interaction propensity) on predicting intentions to purchase products and services through brands’ Facebook pages if s-commerce was available to them. The findings show that the main drivers of s-commerce engagement are message credibility, trust in the brands’ Facebook, involvement, peer communication and online social interaction propensity, as influencers of consumer satisfaction with brands’ Facebook and social media dependency, which in turn drive intentions to engage in s-commerce. Contributing to theory and practice, these relationships are discussed for the four countries involved in the study.     

New product decision making: How chance and size of loss influence what marketing managers see and do

This article empirically examines, in a new‐product decision context, the relationships among risk propensity, perceived risk, and risky choice decisions, when risk is operationalized as the chance of loss and the size of loss. The results indicate that perceptions of chance of loss directly influence choice among alternatives possessing different chances of loss and gain, whereas risk propensity directly influences choice among alternatives that differ in their size of loss and gain. The findings extend previous research by identifying dimension‐specific effects (a) between who the decision maker is and the size of an investment's potential loss, and (b) between what the decision maker sees and the chance that an investment will experience a loss. These results not only contribute to theory, but also provide marketing managers with guidance for their risky choice decisions. The composition of a new product's risk has implications for the decisions marketing managers make, for the placement of managers in risk‐sensitive positions, and for the presentation of information to individuals with oversight responsibility for the firm's product strategy decisions. © 2002 Wiley Periodicals, Inc.     

Brand experience and consumers' social interactive engagement with brand page: An integrated-marketing perspective

As consumers increasingly go online to communicate about brands, brand marketers have been utilizing a popular platform to interact with them and create brand communities, namely a brand page. Prior studies have examined factors that promote the success of a brand page by narrowing focusing on only two influencing factors of engagement with the brand page: individual consumer characteristics and brand page features. Taking an integrated marketing perspective, this study extends that research by examining a broad range of influencing factors affecting engagement with brand page, such as sensory, affective, intellectual, and behavioural brand experiences. Building upon the fundamental motive framework, we demonstrate that brand experience enhances consumers' motivation to participate, socialize, and perceive benefits from others involved within the brand page regardless of individual propensity to socialize online. Furthermore, as consumers are engaged in social interaction within a brand page, they are more likely to be involved in positive WOM about the brand. The theoretical and practical contributions of our study are further discussed, along with suggestions for future research in this important and growing field.     

Retail in my pocket– replicating and extending the construct of service quality into the mobile commerce context

Nowadays, retailers are interested in how customer preferences regarding service quality are changing due to the adoption of different devices for shopping purposes in both the desktop and mobile contexts. To answer this question, this paper first replicates, in the mobile commerce (m-commerce) context, the results from Blut et al. (2015), who conducted a meta-analytic review of electronic service quality. Replication results question the robustness and generalizability of the conceptualization in the mobile service quality context. Thereby, practitioners and academics are encouraged to adapt a customer-centric approach in organizing marketing practices. The replication extends the conceptualization of electronic service quality by considering a unique dimension named ubiquity of services, defined as the retailer's ability to provide offers based on location and time. To reveal psychological mechanisms explaining the results of the replication study, a follow-up study draws on these contextual factors. In this context, this study uses a quasi-experimental approach by utilizing propensity score matching to account for self-selection effects to examine differences between desktop and mobile device users. As a result, this research contributes to the literature by identifying contextual boundary conditions regarding the shopping trip intentions and risk perceptions of mobile device users and desktop device users. Based on the results, major implications for retailers and further research are given.