This paper investigates the role of happiness in portfolio choices. Previous literature has only emphasized the reverse association. An additional novelty of the paper is that the analysis focuses on a wider country sample, while the literature has mainly focused on the U.S. and U.K. economies. Based on micro data from five European countries, i.e., France, Germany, Italy, the Netherlands, and the U.K., spanning the period 2009–2014, the results show that higher levels of happiness lead to higher shares of risky assets in financial portfolios. The findings survive a number of robustness tests. When asset holdings are disaggregated by the extent of the risk associated with them, this effect remains only for safe and low-risk assets, whereas the effect for assets with higher risks is the reverse.
Gemünden, H.G., Ritter, T., and Walter, A. (eds.): (1997) Relationships and Networks in International Markets, NY: Pergamon, 460 pages, ISBN 0‐08‐ 043963‐5 (hardcover). Naudé, P. and Turnbull, P. (eds.): (1998) Network Dynamics in International Markets, NY: Pergamon, 321 pages, ISBN 0‐08‐043358‐8 (hardcover). 相似文献
In recent years, social media influencers (SMIs) have become part of the strategic communication of firms because the traditional form of mass media communication is losing its effectiveness. Thus, it is imperative to study the effects of communication through SMIs on marketing outcomes, such as purchase intentions. Based on the fairness dimensions, that is, information, distributive, interpersonal, and procedural, and dimensions of source credibility, that is, attractiveness, expertise, trustworthiness, and similarity, this research investigated how technology-oriented SMIs (T-SMIs) foster parasocial relationships (PSRs) with followers. Purposive sampling was employed to collect data from 506 active social media users. Data were analysed through IBM AMOS and SPSS 26. The results of the study suggested that attractiveness, expertise, trustworthiness, similarity, interpersonal, procedural, and information fairness are positively related to fostering PSR with followers. In contrast, distributive fairness does not strengthen PSR with followers; furthermore, the study findings suggested an indirect positive influence of attractiveness, expertise, trustworthiness, similarity, interpersonal, procedural, and information fairness on the purchase intentions of consumers via PSR. This study is useful for academia and industry since it fills important gaps in the literature and provides recommendations to brand managers of technology companies about selecting appropriate SMIs for the endorsement of their brands. 相似文献
As consumers exhibit relatively more self-control over healthy products by limiting the purchase quantity of vice choices and buying more virtue choices to adhere to healthy-eating goals, a price promotion has a stronger effect on virtue than vice choices of healthy food. In contrast, consumers exhibit relatively less self-control over unhealthy products and evaluate price promotions as a persuasive temptation mechanism; thus, a price promotion has a stronger effect on vice than virtue choices of unhealthy food. The results of the empirical analyses provide support for these hypotheses. 相似文献
We investigate if agency theory effectively explains agency conflict in the context of a developing country namely, Pakistan. Utilising data from 26 semi-structured interviews, we found that in Pakistan, there is no variation in risk preferences of principals (minority shareholders) and agents (majority shareholders). We also found that remuneration packages and board independence are not effective tools for governing owner managers in Pakistan. Thus, policy makers must shift their focus from soft internal governance mechanisms of appropriate remuneration and board independence. We propose for a rigorous external audit function, and appointment of independent directors and external audit firms by regulator. 相似文献
This paper re-evaluates the telecommunication policies often applied to create regional dispersion of services in developing countries. We observe that failure to consider the complexities of the regional telecommunication systems in creating policies and investment strategies has increased the telecom gap between urban and rural regions worldwide. In particular, the teledensities of rural telecommunications in developing countries have remained very low in spite of support through universal service obligation fees and cross-subsidization from international services. As traditional methods for economic analysis and modeling have failed to identify mechanisms that improve telephone dispersion in these countries, we use a system dynamics modeling approach to deal with complexities of the situation in order to evaluate how Universal Service Obligations (USOs) and International Cross-Subsidy (ICS) policies affect telephone densities. We demonstrate that these policies may be counterproductive due to the structure of the telecom system itself. We also show that, when market-clearing pricing is combined with USOs once the urban telephone density reaches a minimum threshold, the dispersion of rural telecommunications can be considerably improved. 相似文献
This study examines the underlying forces that shape the international marketing (IM) field using three bibliometric methods:
exploratory factor analysis (EFA), hierarchical cluster analysis (HCA), and metric multidimensional scaling (MDS). We apply
these techniques to evaluate the knowledge structure of IM publications for the 1999–2008 period and to concurrently provide
a supplemental examination of the findings for the 2009–2010 period. Overall, our database contains 228,929 citations used
in 3,632 IM articles from 34 academic journals in which marketing publications appear. We initially trace the underpinning
knowledge structure in the literature in five-year increments for all influential IM publications. We then refine our analysis
and examine marketing-centered scholarly influences on the IM literature and undertake an examination of the developments
in later years. The results indicate that the IM field is expanding and is considerably more inclusive, sophisticated, and
increasingly more complex than in earlier periods. Our findings also demonstrate that other disciplines (principally management)
have had a profound influence on the development of the IM literature during the 12-year period under investigation. Using
the bibliometric results derived from our data, we provide guidelines for future research and contrast them with those forwarded
in review studies of the international marketing literature. 相似文献
Comparative cross-national research is among the oldest approaches of scientific inquiry in the social sciences. We investigate the foundations of published works in cross-national research (CNR) in international business (IB), sociology, and psychology with an eye on leveraging their rich traditions for future IB research. Our approach aims to contribute and address repeated calls for taking an interdisciplinary approach in IB. We examined published CNR in 106 scholarly journals and identified 817 articles with 51,738 citations in IB, 477 works with 30,017 citations in sociology, and 835 articles with 54,519 citations in psychology. We use metric multidimensional scaling to examine the co-citation data for each field and identify knowledge and approaches commonplace in sociology and psychology to propose future research paths in IB. In particular multilevel analysis, which is scarcely used in IB, offers the potential of unfolding new dimensions within the field. Based on the emergent results from our MDS solutions, we recommend multiple future paths for CNR, particularly with respect to IB relationships, market entry, and related domains. 相似文献
On November 15, 2015, Digikala, one of the largest online stores in the Middle East, launched its first-ever crowdsourcing contest called ‘A glance at tomorrow’. What distinguishes this contest from common crowd-based initiatives is that it was aimed at Business Model Innovation (BMI) rather than product and process innovation. Although using the crowd has proven to be an effective way for firms to boost their product and process innovation, its use for BMI is challenging. Based on real large-scale data from the Digikala’s crowdsourcing contest, this research focuses on the application of crowd-powered solutions in BMI, which has rarely been investigated previously. Our exploratory case study indicates that the crowd could contribute to the BMI process. Our findings point to a new form of ‘division of innovation labor’ in BMI. Contribution of the crowd in BMI is more likely to be relevant to Value Proposition and Value Delivery, while it might be less relevant to Value Capture and Value Creation. The results also support the notion that crowd-contributor characteristics affect the quality of proposals for BMI. We argue that this line of research could help companies design and implement customized crowd-based initiatives to better support their BMI process. 相似文献