Socially responsible consumption in Russia: Testing the theory of planned behavior and the moderating role of trust

This paper adopts a multilevel approach to explore how socially responsible consumer behavior (SRCB) is shaped by a combination of micro‐level psychological drivers and specifics of the institutional context in which the behavior is performed. The model first applies the theory of planned behavior (TPB) to test the effects of TPB‐based behavioral predictors on the SRCB. Broad‐scope trust in business (BST) is then applied to the model as a variable that characterizes quality of an informal institutional environment, hypothesizing that BST moderates the relationship between TPB‐based behavioral antecedents and SRCB. The paper is based on a survey of 466 Russian consumers. Data were collected by self‐administered questionnaires completed by students and alumni of a large public university in Moscow. Results show that BST moderates the effects of TPB‐based predictors on SRCB. This implies that consumers who believe that the business is overall trustworthy are more likely to take company’s corporate social responsibility (CSR) into account when making purchasing decisions. This study contributes to the multilevel research on SRCB and CSR and adds to the literature on public trust in business as a nascent area of study. Its findings are especially relevant for companies operating in low‐trust environments, including postsocialist economies.     

Supplier evaluation in the context of circular economy: A forward step for resilient business and environment concern

Resource depletion is a concern for the global economy; many think that available resources on the planet will not be able to cater to an ever-growing population. Thus, economies are trying to become circular, leaving behind the linear tradition linear approach. In the circular economy (CE), physical resources and energy are made to loop back into the supply chain (SC) for a more extended period. Proper selection of suppliers is an essential criterion towards proper execution of the CE principle in SC. In this research, we have constructed a framework for evaluating the supplier concerning the CE implementation. Further, this research identifies the criterion and sub-criterion, which are pertinent for evaluating the supplier in CE context. Fuzzy-based ‘Criteria Importance Through Inter-Criteria Correlation (CRITIC)’ method is justifiably applied to determine the aggregated weights of the criteria. Finally, ‘Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS)’ method is used to determine the suppliers' ranking in the Indian automobile industry. Six criteria and 24 sub-criteria are obtained as per recent literature and then inputs from experts. ‘Environment’ criterion came out as the most favourable criterion with a subjective weight of 0.230. The current research is one of the first such attempts to provide criteria for supplier selection in a CE environment. The developed framework would help organisations in implementing CE-based supplier selection. The identified criteria and sub-criteria would provide organisations with means to evaluate suppliers and help suppliers develop an effective and efficient CE based on the SC.     

Financial socialization's impact on investment orientation and household net worth

This study investigates the role of financial socialization for investment orientation and household net worth. Combining consumer socialization literature with findings in the behavioural finance literature, survey data were analysed to (1) investigate the relationship among household net worth, financial socialization, indicators of investment orientation and socio-demographic investor characteristics; (2) examine the influence of socio-demographic investor characteristics and financial socialization on indicators of investment orientation; and (3) test whether financial socialization affects household wealth above and beyond socio-demographic and investment orientation factors. Parents emerged as a relevant socialization agent of investors, influencing investment regularity and household net worth above and beyond other factors. This result extends earlier findings about parents' role for a person's financial management and savings behaviour to the investment context. Based on our findings, educators may want to involve parents in their efforts. They may want to emphasize the importance of starting investing regularly at an early age and of continuing to increase involvement in investing over the years. Financial planners and financial counsellors may consider emphasizing these two practices for their clients and involve children of their clients when and where appropriate.     

An exploratory analysis of hotel selection factors: A comprehensive survey of Tehran hotels

The selection of residence location in different countries is of high priority and significance for tourists. The selection of the most appropriate hotel entails a rather complicated decision-making process. A comprehensive hotel selection model can empower the hotel managers, the tourists, and the tourism industry to make decisions based on more effective indicators of high quality services for a higher rate of satisfaction. The purpose of this research is to deeply explore the broad literature and to identify the most significant hotel selection indicators and factors in Tehran hotels and to present a comprehensive model through an exploratory factor analysis of the extracted indicators so as to provide the managers and tourists with a firm ground for making better decisions regarding the indicators of hotel selection. Promenade and comfort, security and protection, network services, pleasure, staff and their services, news and recreational information, cleanliness and room comfort, expenditure, room facilities and car parking were identified as the main hotel selection factors of Tehran hotels. Afterwards, another factor analysis has been done in order to extract the next hidden set of factors within the aforementioned factors which return two main factors of “Hotel Comfort Factors” and “Hotel Compensatory Factors”. Following the creation of the final model and based on the intrinsic vagueness of decision making in the process of selection, a set of fuzzy membership functions for the extracted factors has been provided. The intention has been to provide the expert system and decision support system developers and users with a set of practical indicators in order to help them design and implement realistic systems based on the deeply studied indicators and factors of hotel selection. Such supportive systems can be directly presented to the tourists requesting a mechanism for selecting the most appropriate hotel but lacking enough information about the important indicators and factors and also to the managers of hotels who are trying to make strategic decisions regarding the most optimized investments on the indicators of selecting a hotel. Considering the priorities of tourists, hotel managers, entrepreneurs and investors in the hotel industry require deep investigations and studies for which this paper provides a firm basis.