Search results for: online markets
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 3483

Search results for: online markets

2553 The Labor Market in Western Balcans

Authors: Lavdosh Lazemetaj

Abstract:

The labor market in W.B. Countries presents problems and challenges, this is dictated by different risk factors. The levels of unemployment in the region are high and the rates of its reduction are a challenge. This paper presents these challenges and problems that the countries face. of the BP region. The region as a whole and the countries in their particularity are analyzed, according to the specifics, the development trends related to the labor market are looked at. Conclusions are also given that emerge from the analysis of the labor markets prior to the monitoring done by the EU and the World Bank.

Keywords: Economic Development, European Union, Economic Growth, Labor Market

Procedia PDF Downloads 84
2552 Co-Creating an International Flipped Faculty Development Model: A US-Afghan Case Study

Authors: G. Alex Ambrose, Melissa Paulsen, Abrar Fitwi, Masud Akbari

Abstract:

In 2016, a U.S. business college was awarded a sub grant to work with FHI360, a nonprofit human development organization, to support a university in Afghanistan funded by the State Department’s U.S. Agency for International Development (USAID). A newly designed Master’s Degree in Finance and Accounting is being implemented to support Afghanistan’s goal of 20% females in higher education and industry by 2020 and to use finance and accounting international standards to attract capital investment for economic development. This paper will present a case study to describe the co-construction of an approach to an International Flipped Faculty Development Model grounded in blended learning theory. Like education in general, faculty development is also evolving from the traditional face to face environment and interactions to the fully online and now to a best of both blends. Flipped faculty development is both a means and a model for careful integration of the strengths of the synchronous and asynchronous dynamics and technologies with the combination of intentional sequencing to pre-online interactions that prepares and enhances the face to face faculty development and mentorship residencies with follow-up post-online support. Initial benefits from this model include giving the Afghan faculty an opportunity to experience and apply modern teaching and learning strategies with technology in their own classroom. Furthermore, beyond the technological and pedagogical affordances, the reciprocal benefits gained from the mentor-mentee, face-to-face relationship will be explored. Evidence to support this model includes: empirical findings from pre- and post-Faculty Mentor/ Mentee survey results, Faculty Mentorship group debriefs, Faculty Mentorship contact logs, and student early/end of semester feedback. In addition to presenting and evaluating this model, practical challenges and recommendations for replicating international flipped faculty development partnerships will be provided.

Keywords: educational development, faculty development, international development, flipped learning

Procedia PDF Downloads 170
2551 The Impact of Brand Hate and Love: A Thematic Analysis of Online Emotions in Response to Disney’s Corporate Activism

Authors: Roxana D. Maiorescu-Murphy

Abstract:

Companies have recently embraced political activism as an alleged responsibility toward the communities they operate in. As a result of its recency, there is little understanding of the impact of corporate activism on consumers. In addition, embracing corporate activism engenders polarizing opinions, potentially leading to a crisis of morality shown in past literature to flourish in online settings. The present study contributes to the literature on communication management, which currently lacks research on stakeholder perceptions toward corporate activism in general and from the perspective of the stakeholders’ emotions of brand hate versus a love that they display before a specific corporate act of activism. For this purpose, the study analyzed online reactions on Twitter following Disney’s stance against Florida’s House Bill 1577 enacted in April 2022. Dubbed the “Don’t Say Gay Bill” by the left wing and the “Parental Rights Bill” by the conservative movement, the legislation triggered polarizing opinions in society and among Disney’s stakeholders, as the company announce it was taking action against it. Given the scarcity of research on corporate political activism and crises of morality, the current study enacted the case study methodology. Consequently, it answered to the research questions of how online stakeholders responded to Disney’s stance as well as why they formed such an opinion. The data were collected from Twitter over a seven-day period of analysis, namely from March 28- April 3, 2022. The period of analysis started on the day Disney announced its stance (March 28, 2022) until the reactions to its announcement petered out significantly (April 3, 2022). The final sample of analysis consisted of N=1,344 and represented Twitter comments in response to the company’s political announcement. The data were analyzed using the grounded theory methodology, which implied multiple exposures to the text and the undertaking of an inductive-deductive approach that led to the emergence of several recurrent themes. The findings revealed that the stakeholders’ prior emotions toward the company (brand hate versus brand love) did not play a greater role in their (dis)agreement with the latter’s activism than the users’ political stances. Specifically, whether they despised or hated Disney prior to this incident was less significant than their personal political stances. Above all, users were more inclined to transition from brand love to brand hate and vice versa based on the political side they viewed Disney to fall under.

Keywords: corporate political advocacy, crisis management, brand hate, brand love

Procedia PDF Downloads 96
2550 Effects of an Online Positive Psychology Program on Stress, Depression, and Anxiety Symptoms of Emerging Adults

Authors: Gabriela R. Silveira, Claudia S. Rocha, Lais S. Vitti, Jeane L. Borges, Helen B. Durgante

Abstract:

Emerging adulthood occurs after adolescence in a period that maybe be marked by experimentation, identity reconfigurations, labor life demands, and insertion in the work environment, which tends to generate stress and emotional instability. Health promotion programs for the development of strengths and virtues, based on Positive Psychology, for emerging adults are sparse in Brazil. The aim of this study was to evaluate the preliminary effects of an online multi-component Positive Psychology program for the health promotion of emerging adults based on Cognitive Behavioural Therapy and Positive Psychology. The program included six online (synchronous) weekly group sessions of approximately two hours each and homework (asynchronous) activities. The themes worked were Values and self-care/Prudence, Optimism, Empathy, Gratitude, Forgiveness, and Meaning of life and work. This study presents data from a longitudinal, pre-experimental design with pre (T1) and post-test (T2) evaluation in the intervention group. 47 individuals aged between 19-30 years old participated, mean age of 24.53 years (SD=3.13), 37 females (78.7%). 42 (89.4%) self-defined as heterosexual, four (8.5%) as homosexual, and one (2.5%) as bisexual. 33 (70.2%) had incomplete higher education, four (8.5%) completed higher education, and seven (14.9%) had a graduate level of education. 27 participants worked (57.4%), out of which 25 were health workers (53.2%). 14 (29.8%) were caregivers, 27 (57.4%) had a spiritual belief, 36 (76.6%) had access to leisure, and 38 (80.9%) had perceived social support. The instruments used were a sociodemographic questionnaire, the 10-item Perceived Stress Scale, and the 12-item General Health Questionnaire. The program was advertised on social networks and interested participants filled out the Consent Form and the evaluation protocol at T1 and T2 via Google Docs form. The main research was approved (CEP n.1,899,368; 4,143,219; CAAE: 61997516.5.0000.5334) and complied with sanitary and Ethics criteria in research with human beings. Wilcoxon statistics revealed significant improvements in indicators of perceived stress between T1 (X=22.21, SD=6.79) and T2 (X=15.10, SD=5.82); (Z=-4.353; p=0.001) as well as depression and anxiety symptoms (T1:X=26.72, SD=8.84; T2: X=19.23, SD=4.68); (Z=-3.945, p=0.001) of the emerging adults after their participation in the programme. The programme has an innovative character not only for presenting an online Positive Psychology approach but also for being based on an intervention developed, evaluated, and manualized in Brazil. By focusing on emerging adults, this study contributes to advancing research on a relatively new field in developmental studies. As a limitation, this is a pre-experimental and pilot study, requiring an increase in sample size for greater statistical robustness, also qualitative data analysis is crucial for methodological complementarity. The importance of investing efforts to accompany this age group and provide advances in longitudinal research in the area of health promotion and disease prevention is highlighted.

Keywords: emerging adults, disease prevention, health promotion, online program

Procedia PDF Downloads 81
2549 The Discriminate Analysis and Relevant Model for Mapping Export Potential

Authors: Jana Gutierez Chvalkovska, Michal Mejstrik, Matej Urban

Abstract:

There are pending discussions over the mapping of country export potential in order to refocus export strategy of firms and its evidence-based promotion by the Export Credit Agencies (ECAs) and other permitted vehicles of governments. In this paper we develop our version of an applied model that offers “stepwise” elimination of unattractive markets. We modify and calibrate the model for the particular features of the Czech Republic and specific pilot cases where we apply an individual approach to each sector.

Keywords: export strategy, modeling export, calibration, export promotion

Procedia PDF Downloads 485
2548 Acceptance and Commitment Therapy for Social Anxiety Disorder in Adolescence: A Manualized Online Approach

Authors: Francisca Alves, Diana Figueiredo, Paula Vagos, Luiza Lima, Maria do Céu Salvador, Daniel Rijo

Abstract:

In recent years, Acceptance and Commitment Therapy (ACT) has been shown to be effective in the treatment of numerous anxiety disorders, including social anxiety disorder (SAD). However, limited evidence exists on its therapeutic gains for adolescents with SAD. The current work presents a weekly 10-session manualized online ACT approach to adolescent SAD, being the first study to do so in a clinical sample of adolescents. The intervention ACT@TeenSAD addresses the six proposed processes of psychological inflexibility (i.e., experiential avoidance, cognitive fusion, lack of values clarity, unworkable action, dominance of the conceptualized past and future, attachment to the conceptualized self) in social situations relevant to adolescents (e.g., doing a presentation). It is organized into four modules. The first module explores the role of psychological (in)flexibility in SAD (session 1 and 2), addressing psychoeducation (i.e., functioning of the mind) according to ACT, the development of an individualized model, and creative hopelessness. The second module focuses on the foundation of psychological flexibility (session 3, 4, and 5), specifically on the development and practice of strategies to promote clarification of values, contact with the present moment, the observing self, defusion, and acceptance. The third module encompasses psychological flexibility in action (sessions 6, 7, 8, and 9), encouraging committed action based on values in social situations relevant to the adolescents. The fourth modules’ focus is the revision of gains and relapse prevention (session 10). This intervention further includes two booster sessions after therapy has ended (3 and 6-month follow-up) that aim to review the continued practice of learned abilities and to plan for their future application to potentially anxious social events. As part of an ongoing clinical trial, the intervention will be assessed on its feasibility with adolescents diagnosed with SAD and on its therapeutic efficacy based on a longitudinal design including pretreatment, posttreatment, 3 and 6-month follow-up. If promising, findings may support the online delivery of ACT interventions for SAD, contributing to increased treatment availability to adolescents. This availability of an effective therapeutic approach will be helpful not only in relation to adolescents who face obstacles (e.g., distance) when attending to face-to-face sessions but also particularly to adolescents with SAD, who are usually more reluctant to look for specialized treatment in public or private health facilities.

Keywords: acceptance and commitment therapy, social anxiety disorder, adolescence, manualized online approach

Procedia PDF Downloads 141
2547 Investment Development Path and Motivations for Foreign Direct Investment in Georgia

Authors: Vakhtang Charaia, Mariam Lashkhi

Abstract:

Foreign direct investment (FDI) plays a vital role in global business. It provides firms with new markets and advertising channels, cheaper production facilities, admission to new technology, products, skills and financing. FDI can provide a recipient country/company with a source of new technologies, capital, practice, products, management skills, and as such can be a powerful drive for economic development. It is one of the key elements of stable economic development in many countries, especially in developing ones. Therefore the size of FDI inflow is one of the most crustal factors for economic perfection in small economy countries (like, Georgia), while most of developed ones are net exporters of FDI. Since, FDI provides firms with new markets; admission to new technologies, products and management skills; marketing channels; cheaper production facilities, and financing opportunities. It plays a significant role in Georgian economic development. Increasing FDI inflows from all over the world to Georgia in last decade was achieved with the outstanding reforms managed by the Georgian government. However, such important phenomenon as world financial crisis and Georgian-Russian war put its consequence on the over amount of FDI inflow in Georgia in the last years. It is important to mention that the biggest investor region for Georgia is EU, which is interested in Georgia not only from the economic points of view but from political. The case studies from main EU investor countries show that Georgia has a big potential of investment in different areas, such as; financial sector, energy, construction, tourism industry, transport and communications. Moreover, signing of Association Agreement between Georgia and EU will further boost all the fields of economy in Georgia in both short and long terms. It will attract more investments from different countries and especially from EU. The last, but not least important issue is the calculation of annual FDI inflow to Georgia, which it is calculated differently by different organizations, based on different methodologies, but what is more important is that all of them show significant increase of FDI in last decade, which gives a positive signal to investors and underlines necessity of further improvement of investment climate in the same direction.

Keywords: foreign direct investment (FDI), Georgia, investment development path, investment climate

Procedia PDF Downloads 255
2546 A Review of Optomechatronic Ecosystem

Authors: Sam Zhang

Abstract:

The landscape of Opto mechatronics is viewed along the line of light vs. matter, photonics vs. semiconductors, and optics vs. mechatronics. Optomechatronics is redefined as the integration of light and matter from the atom, device, and system to the application. The markets and megatrends in Opto mechatronics are further listed. The author then focuses on Opto mechatronic technology in the semiconductor industry as an example and reviews the practical systems, characteristics, and trends. Opto mechatronics, together with photonics and semiconductor, will continue producing the computational and smart infrastructure required for the 4th industrial revolution.

Keywords: photonics, semiconductor, optomechatronics, 4th industrial revolution

Procedia PDF Downloads 103
2545 Economic Isolation in the Globalised World Order: A Case Study of North Korea

Authors: Nizika Sorokhaibam

Abstract:

With the collapse of the Soviet Union in 1989, that marked the end of the prolonged struggle of ideologies between capitalism of the United States of America and communism of the Soviet Union, the world entered a new era of free markets, trade and economic liberalization. Through analysis of various literatures on North Korea, this study focuses on the impact of Globalization on North Korea- its people, economy and the regime. The study also takes a glance at the Juche ideology, which was crafted by the Supreme Leader Kim Il Sung, for the people of DPRK and its role and influence in shaping the North Korean economy. The new buzz word being Globalization, as businesses started to expand on international scale, demanding the need for co-operation, connectivity and interdependence of countries around the world. States tilted their focus towards industrialization, production of raw materials, production of goods to meet the growing demands and grabbing markets for the manufactured products. This became the norm as many newly independent countries adopted democracy and aligned their views with globalization processes. Socialist and communist regimes either fell one after the other to join the globalization trend or reformed their economic system to meet the globalization trends. However, even after staying isolated for more than six decades, Democratic People’s Republic of Korea, the Hermit Kingdom, refuses to open up its economy to the globalised world. North Korean regime still controls all the sectors of the country and no trade and investment freedom is given to the people. North Korea vigorously makes efforts to emphasize on its Juche ideology of self-sustenance and self-reliance to keep away from actively engaging in global trade and process of globalization, which they refer to as “Americanization” of the world. Nevertheless, the reality is that North Korea’s economy is not self sustained and is collapsing from within, which led them to solicit foreign aid from the United States of America, South Korea (Republic of Korea) and People’s Republic of China. The regime needs to implement reforms and make adjustments for the economy to survive in the competing world.

Keywords: economic globalization, economic isolation, Juche, North Korea

Procedia PDF Downloads 248
2544 The Effect of Online Analyzer Malfunction on the Performance of Sulfur Recovery Unit and Providing a Temporary Solution to Reduce the Emission Rate

Authors: Hamid Reza Mahdipoor, Mehdi Bahrami, Mohammad Bodaghi, Seyed Ali Akbar Mansoori

Abstract:

Nowadays, with stricter limitations to reduce emissions, considerable penalties are imposed if pollution limits are exceeded. Therefore, refineries, along with focusing on improving the quality of their products, are also focused on producing products with the least environmental impact. The duty of the sulfur recovery unit (SRU) is to convert H₂S gas coming from the upstream units to elemental sulfur and minimize the burning of sulfur compounds to SO₂. The Claus process is a common process for converting H₂S to sulfur, including a reaction furnace followed by catalytic reactors and sulfur condensers. In addition to a Claus section, SRUs usually consist of a tail gas treatment (TGT) section to decrease the concentration of SO₂ in the flue gas below the emission limits. To operate an SRU properly, the flow rate of combustion air to the reaction furnace must be adjusted so that the Claus reaction is performed according to stoichiometry. Accurate control of the air demand leads to an optimum recovery of sulfur during the flow and composition fluctuations in the acid gas feed. Therefore, the major control system in the SRU is the air demand control loop, which includes a feed-forward control system based on predetermined feed flow rates and a feed-back control system based on the signal from the tail gas online analyzer. The use of online analyzers requires compliance with the installation and operation instructions. Unfortunately, most of these analyzers in Iran are out of service for different reasons, like the low importance of environmental issues and a lack of access to after-sales services due to sanctions. In this paper, an SRU in Iran was simulated and calibrated using industrial experimental data. Afterward, the effect of the malfunction of the online analyzer on the performance of SRU was investigated using the calibrated simulation. The results showed that an increase in the SO₂ concentration in the tail gas led to an increase in the temperature of the reduction reactor in the TGT section. This increase in temperature caused the failure of TGT and increased the concentration of SO₂ from 750 ppm to 35,000 ppm. In addition, the lack of a control system for the adjustment of the combustion air caused further increases in SO₂ emissions. In some processes, the major variable cannot be controlled directly due to difficulty in measurement or a long delay in the sampling system. In these cases, a secondary variable, which can be measured more easily, is considered to be controlled. With the correct selection of this variable, the main variable is also controlled along with the secondary variable. This strategy for controlling a process system is referred to as inferential control" and is considered in this paper. Therefore, a sensitivity analysis was performed to investigate the sensitivity of other measurable parameters to input disturbances. The results revealed that the output temperature of the first Claus reactor could be used for inferential control of the combustion air. Applying this method to the operation led to maximizing the sulfur recovery in the Claus section.

Keywords: sulfur recovery, online analyzer, inferential control, SO₂ emission

Procedia PDF Downloads 59
2543 Design of Mobile Teaching for Students Collaborative Learning in Distance Higher Education

Authors: Lisbeth Amhag

Abstract:

The aim of the study is to describe and analyze the design of mobile teaching for students collaborative learning in distance higher education with a focus on mobile technologies as online webinars (web-based seminars or conferencing) by using laptops, smart phones, or tablets. These multimedia tools can provide face-to-face interactions, recorded flipped classroom videos and parallel chat communications. The data collection consists of interviews with 22 students and observations of online face-to-face webinars, as well two surveys. Theoretically, the study joins the research tradition of Computer Supported Collaborative learning, CSCL, as well as Computer Self-Efficacy, CSE concerned with individuals’ media and information literacy. Important conclusions from the study demonstrated mobile interactions increased student centered learning. As the students were appreciating the working methods, they became more engaged and motivated. The mobile technology using among student also contributes to increased flexibility between space and place, as well as media and information literacy.

Keywords: computer self-efficacy, computer supported collaborative learning, distance and open learning, educational design and technologies, media and information literacy, mobile learning

Procedia PDF Downloads 348
2542 The Impact of Blended Learning on the Perception of High School Learners Towards Entrepreneurship

Authors: Rylyne Mande Nchu, Robertson Tengeh, Chux Iwu

Abstract:

Blended learning is a global phenomenon and is essential to many institutes of learning as an additional method of teaching that complements more traditional methods of learning. In this paper, the lack of practice of a blended learning approach to entrepreneurship education and how it impacts learners' perception of being entrepreneurial. E-learning is in its infancy within the secondary and high school sectors in South Africa. The conceptual framework of the study is based on theoretical aspects of systemic-constructivist learning implemented in an interactive online learning environment in an entrepreneurship education subject. The formative evaluation research was conducted implementing mixed methods of research (quantitative and qualitative) and it comprised a survey of high school learners and informant interviewing with entrepreneurs. Theoretical analysis of literature provides features necessary for creating interactive blended learning environments to be used in entrepreneurship education subject. Findings of the study show that learners do not always objectively evaluate their capacities. Special attention has to be paid to the development of learners’ computer literacy as well as to the activities that would bring online learning to practical training. Needs analysis shows that incorporating blended learning in entrepreneurship education may have a positive perception of entrepreneurship.

Keywords: blended learning, entrepreneurship education, entrepreneurship intention, entrepreneurial skills

Procedia PDF Downloads 96
2541 An Exploratory Study of Reliability of Ranking vs. Rating in Peer Assessment

Authors: Yang Song, Yifan Guo, Edward F. Gehringer

Abstract:

Fifty years of research has found great potential for peer assessment as a pedagogical approach. With peer assessment, not only do students receive more copious assessments; they also learn to become assessors. In recent decades, more educational peer assessments have been facilitated by online systems. Those online systems are designed differently to suit different class settings and student groups, but they basically fall into two categories: rating-based and ranking-based. The rating-based systems ask assessors to rate the artifacts one by one following some review rubrics. The ranking-based systems allow assessors to review a set of artifacts and give a rank for each of them. Though there are different systems and a large number of users of each category, there is no comprehensive comparison on which design leads to higher reliability. In this paper, we designed algorithms to evaluate assessors' reliabilities based on their rating/ranking against the global ranks of the artifacts they have reviewed. These algorithms are suitable for data from both rating-based and ranking-based peer assessment systems. The experiments were done based on more than 15,000 peer assessments from multiple peer assessment systems. We found that the assessors in ranking-based peer assessments are at least 10% more reliable than the assessors in rating-based peer assessments. Further analysis also demonstrated that the assessors in ranking-based assessments tend to assess the more differentiable artifacts correctly, but there is no such pattern for rating-based assessors.

Keywords: peer assessment, peer rating, peer ranking, reliability

Procedia PDF Downloads 421
2540 Financial Ethics: A Review of 2010 Flash Crash

Authors: Omer Farooq, Salman Ahmed Khan, Sadaf Khalid

Abstract:

Modern day stock markets have almost entirely became automated. Even though it means increased profits for the investors by algorithms acting upon the slightest price change in order of microseconds, it also has given birth to many ethical dilemmas in the sense that slightest mistake can cause people to lose all of their livelihoods. This paper reviews one such event that happened on May 06, 2010 in which $1 trillion dollars disappeared from the Dow Jones Industrial Average. We are going to discuss its various aspects and the ethical dilemmas that have arisen due to it.

Keywords: flash crash, market crash, stock market, stock market crash

Procedia PDF Downloads 498
2539 Evaluation of Prehabilitation Prior to Surgery for an Orthopaedic Pathway

Authors: Stephen McCarthy, Joanne Gray, Esther Carr, Gerard Danjoux, Paul Baker, Rhiannon Hackett

Abstract:

Background: The Go Well Health (GWH) platform is a web-based programme that allows patients to access personalised care plans and resources, aimed at prehabilitation prior to surgery. The online digital platform delivers essential patient education and support for patients prior to undergoing total hip replacements (THR) and total knee replacements (TKR). This study evaluated the impact of an online digital platform (ODP) in terms of functional health outcomes, health related quality of life and hospital length of stay following surgery. Methods: A retrospective cohort study comparing a cohort of patients who used the online digital platform (ODP) to deliver patient education and support (PES) prior to undergoing THR and TKR surgery relative to a cohort of patients who did not access the ODP and received usual care. Routinely collected Patient Reported Outcome Measures (PROMs) data was obtained on 2,406 patients who underwent a knee replacement (n=1,160) or a hip replacement (n=1,246) between 2018 and 2019 in a single surgical centre in the United Kingdom. The Oxford Hip and Knee Score and the European Quality of Life Five-Dimensional tool (EQ5D-5L) was obtained both pre-and post-surgery (at 6 months) along with hospital LOS. Linear regression was used to compare the estimate the impact of GWH on both health outcomes and negative binomial regressions were used to impact on LOS. All analyses adjusted for age, sex, Charlson Comorbidity Score and either pre-operative Oxford Hip/Knee scores or pre-operative EQ-5D scores. Fractional polynomials were used to represent potential non-linear relationships between the factors included in the regression model. Findings: For patients who underwent a knee replacement, GWH had a statistically significant impact on Oxford Knee Scores and EQ5D-5L utility post-surgery (p=0.039 and p=0.002 respectively). GWH did not have a statistically significant impact on the hospital length of stay. For those patients who underwent a hip replacement, GWH had a statistically significant impact on Oxford Hip Scores and EQ5D-5L utility post (p=0.000 and p=0.009 respectively). GWH also had a statistically significant reduction in the hospital length of stay (p=0.000). Conclusion: Health Outcomes were higher for patients who used the GWH platform and underwent THR and TKR relative to those who received usual care prior to surgery. Patients who underwent a hip replacement and used GWH also had a reduced hospital LOS. These findings are important for health policy and or decision makers as they suggest that prehabilitation via an ODP can maximise health outcomes for patients following surgery whilst potentially making efficiency savings with reductions in LOS.

Keywords: digital prehabilitation, online digital platform, orthopaedics, surgery

Procedia PDF Downloads 176
2538 Intellectual Capital Disclosure: Profiles of Spanish Public Universities

Authors: Yolanda Ramírez, Ángel Tejada, Agustín Baidez

Abstract:

In the higher education setting, there is a current trend in society toward greater openness and transparency. The economic, social and political changes that have occurred in recent years in public sector universities (particularly the New Public Management, the Bologna Process and the emergence of the “third mission”) call for a wider disclosure of value created by universities to support fundraising activities, to ensure accountability in the use of public funds and the outcomes of research and teaching, as well as close relationships with industries and territories. The paper has two purposes: 1) to explore the intellectual capital (IC) disclosure in Spanish universities through their websites, and 2) to identify university profiles. This study applies a content analysis to analyze the institutional websites of Spanish public universities and a cluster analysis. The analysis reveals that Spanish universities’ website content usually relates to human capital, while structural and relational capitals are less widely disclosed. Our research identifies three behavioral profiles of Spanish universities with regard to the online disclosure of IC (universities more proactive, universities less proactive and universities adopt a middle position in this regard. The results can serve as encouragement to university managers to enhance online IC disclosure to meet the information needs of university stakeholders.

Keywords: universities, intellectual capital, disclosure, internet

Procedia PDF Downloads 141
2537 Internationalization Using Strategic Alliances: A Comparative Study between Family and Non-Family Businesses

Authors: Guadalupe Fuentes-Lombardo, Manuel Carlos Vallejo-Martos, Rubén Fernández-Ortiz, Miriam Cano-Rubio

Abstract:

The different ways in which companies enter foreign markets, exporting their products and direct investment and using strategic alliances or not, are influenced by a series of peculiarities specific to family businesses. In these companies, different systems, such as the family, property, and business overlap; giving them unique and specific characteristics which on occasions can enhance the development of cooperation agreements and in other situations can hinder them. Previous research has shown that these companies are more likely to enter into strategic alliances with certain specific features, and are more reluctant to take part in others in which some of the advantages of the family business are put at risk, such as control of ownership and decision-making over the company by the family, among others. These arguments show that there is a wide range of interesting aspects and peculiarities in the process of internationalization of the family business, although the research objectives of this paper focus on three in particular. Our first objective will be to discover why family businesses decide to establish or not strategic alliances in their internationalization processes in comparison with other companies that are not family owned. Secondly we will be identifying the idiosyncratic aspects of family businesses that favor or hinder the use of strategic alliances as a means of entering foreign markets. Our third and final objective will be to define the types of strategic alliance most commonly used by family businesses and the reasons why they choose these particular forms of alliance rather than others. We chose these research objectives for three main reasons. Firstly because research on this subject shows that alliances are the best way to begin the international expansion process, among other reasons because they provide the partners with different kinds of resources and capacity, so increasing the probability of successful internationalization. Secondly, because family and non-family businesses are often equipped with different types of resources and strategic alliances, offer them the chance to acquire resources less frequently found in family businesses. Thirdly, because the strengths and weaknesses of these companies could affect their decisions whether or not to use strategic alliances in their international expansion process and the success achieved in these alliances. As a result, these companies prefer to enter into cooperation agreements with conditions that do not put their specific status as family companies at risk.

Keywords: family business, internationalization, strategic alliances, olive-oil and wine industry

Procedia PDF Downloads 436
2536 Social Work Profession in a Mirror of the Russian Immigrant Media in Israel

Authors: Natalia Khvorostianov, Nelly Elias

Abstract:

The present study seeks to analyze representation of social work in immigrant media, focusing on the case of online newspapers established by immigrants from the Former Soviet Union (FSU) in Israel. This immigrant population is particularly interesting because social work did not exist as a profession practiced in the USSR and hence most FSU immigrants arrive in Israel without a basic knowledge of the essence of social work, the services it provides and the logic behind its treatment methods. The sample of 37 items was built through a Google search of the Russian online newspapers and portals originated in Israel by using keywords such as “social worker,” “social work services” and the like. All items were analyzed by using qualitative content analysis. Principal analytical categories used for the analysis were: Assessment of social work services (negative, positive, neutral); social workers’ professionalism and effectiveness; goals and motives underlying their activity; cross-cultural contact with immigrants and methods used in working with immigrants. On this basis, four dominant images used to portray Israeli social work services and social workers were identified: Lack of professionalism, cultural gaps between FSU immigrants and Israeli social workers, repressive character of social work services and social workers’ involvement in corruption and crime.

Keywords: FSU immigrants, immigrant media, media images, social workers

Procedia PDF Downloads 347
2535 Forensic Investigation: The Impact of Biometric-Based Solution in Combatting Mobile Fraud

Authors: Mokopane Charles Marakalala

Abstract:

Research shows that mobile fraud has grown exponentially in South Africa during the lockdown caused by the COVID-19 pandemic. According to the South African Banking Risk Information Centre (SABRIC), fraudulent online banking and transactions resulted in a sharp increase in cybercrime since the beginning of the lockdown, resulting in a huge loss to the banking industry in South Africa. While the Financial Intelligence Centre Act, 38 of 2001, regulate financial transactions, it is evident that criminals are making use of technology to their advantage. Money-laundering ranks among the major crimes, not only in South Africa but worldwide. This paper focuses on the impact of biometric-based solutions in combatting mobile fraud at the South African Risk Information. SABRIC had the challenges of a successful mobile fraud; cybercriminals could hijack a mobile device and use it to gain access to sensitive personal data and accounts. Cybercriminals are constantly looting the depths of cyberspace in search of victims to attack. Millions of people worldwide use online banking to do their regular bank-related transactions quickly and conveniently. This was supported by the SABRIC, who regularly highlighted incidents of mobile fraud, corruption, and maladministration in SABRIC, resulting in a lack of secure their banking online; they are vulnerable to falling prey to fraud scams such as mobile fraud. Criminals have made use of digital platforms since the development of technology. In 2017, 13 438 instances involving banking apps, internet banking, and mobile banking caused the sector to suffer gross losses of more than R250,000,000. The final three parties are forced to point fingers at one another while the fraudster makes off with the money. A non-probability sampling (purposive sampling) was used in selecting these participants. These included telephone calls and virtual interviews. The results indicate that there is a relationship between remote online banking and the increase in money-laundering as the system allows transactions to take place with limited verification processes. This paper highlights the significance of considering the development of prevention mechanisms, capacity development, and strategies for both financial institutions as well as law enforcement agencies in South Africa to reduce crime such as money-laundering. The researcher recommends that strategies to increase awareness for bank staff must be harnessed through the provision of requisite training and to be provided adequate training.

Keywords: biometric-based solution, investigation, cybercrime, forensic investigation, fraud, combatting

Procedia PDF Downloads 76
2534 Affective (And Effective) Teaching and Learning: Higher Education Gets Social Again

Authors: Laura Zizka, Gaby Probst

Abstract:

The Covid-19 pandemic has affected the way Higher Education Institutions (HEIs) have given their courses. From emergency remote where all students and faculty were immediately confined to home teaching and learning, the continuing evolving sanitary situation obliged HEIs to adopt other methods of teaching and learning from blended courses that included both synchronous and asynchronous courses and activities to hy-flex models where some students were on campus while others followed the course simultaneously online. Each semester brought new challenges for HEIs and, subsequently, additional emotional reactions. This paper investigates the affective side of teaching and learning in various online modalities and its toll on students and faculty members over the past three semesters. The findings confirm that students and faculty who have more self-efficacy, flexibility, and resilience reported positive emotions and embraced the opportunities that these past semesters have offered. While HEIs have begun a new semester in an attempt to return to ‘normal’ face-to-face courses, this paper posits that there are lessons to be learned from these past three semesters. The opportunities that arose from the challenge of the pandemic should be considered when moving forward by focusing on a greater emphasis on the affective aspect of teaching and learning in HEIs worldwide.

Keywords: effective teaching and learning, higher education, engagement, interaction, motivation

Procedia PDF Downloads 102
2533 Effective, Affordable, and Accessible Treatment for Pregnancy’s Commonest Complication: Online Synchronous Interpersonal Psychotherapy for Mothers with Postpartum Depression

Authors: Vivian Polak, Lena Verdeli, Wendy Lou, Caroline Lovett

Abstract:

Postnatal depression (PND) is a common complication of childbirth that increases the risk of future depressive episodes in women, postpartum depression in partners, as well as social, emotional, behavioural, language, and cognitive problems in offspring. Although psychotherapy, and in particular Group Interpersonal Psychotherapy (IPT-G), has been proven effective in treating PND, it remains largely inaccessible. However, research has indicated that online synchronous group therapy can be equally as effective as in-person therapy and is a more affordable and accessible modality of treatment. This study aimed to ascertain whether delivering IPT-G virtually when compared to treatment as usual, could more effectively reduce depressive and anxiety symptoms, enhance mother-infant attachment, improve the couple relationship, augment social support, improve overall functioning, and enhance the quality of life for women in rural and northern Ontario who are suffering from PND. By bridging the gap in access to mental health services during the postpartum period, this study seeks to improve the well-being of mothers and their families in rural and northern Ontario, Canada. A randomized controlled trial was conducted to determine whether virtual IPT-G plus treatment as usual would be more effective than treatment as usual alone in treating women with PND in Ontario, Canada. Preliminary results indicate that women who received virtual IPT-G had a clinically and statistically significant decrease in overall depressive symptoms compared to their counterparts who received only the treatment as usual. As such, providing online synchronous IPT-G in the perinatal period not only has the potential to improve women's outcomes in the present but also to decrease future health costs, reduce the burden on the educational and justice systems, and decrease the number of disability life years lost to postnatal depression.

Keywords: family wellbeing, group psychotherapy, interpersonal psychotherapy, postnatal depression, virtual psychotherapy

Procedia PDF Downloads 47
2532 Discerning Divergent Nodes in Social Networks

Authors: Mehran Asadi, Afrand Agah

Abstract:

In data mining, partitioning is used as a fundamental tool for classification. With the help of partitioning, we study the structure of data, which allows us to envision decision rules, which can be applied to classification trees. In this research, we used online social network dataset and all of its attributes (e.g., Node features, labels, etc.) to determine what constitutes an above average chance of being a divergent node. We used the R statistical computing language to conduct the analyses in this report. The data were found on the UC Irvine Machine Learning Repository. This research introduces the basic concepts of classification in online social networks. In this work, we utilize overfitting and describe different approaches for evaluation and performance comparison of different classification methods. In classification, the main objective is to categorize different items and assign them into different groups based on their properties and similarities. In data mining, recursive partitioning is being utilized to probe the structure of a data set, which allow us to envision decision rules and apply them to classify data into several groups. Estimating densities is hard, especially in high dimensions, with limited data. Of course, we do not know the densities, but we could estimate them using classical techniques. First, we calculated the correlation matrix of the dataset to see if any predictors are highly correlated with one another. By calculating the correlation coefficients for the predictor variables, we see that density is strongly correlated with transitivity. We initialized a data frame to easily compare the quality of the result classification methods and utilized decision trees (with k-fold cross validation to prune the tree). The method performed on this dataset is decision trees. Decision tree is a non-parametric classification method, which uses a set of rules to predict that each observation belongs to the most commonly occurring class label of the training data. Our method aggregates many decision trees to create an optimized model that is not susceptible to overfitting. When using a decision tree, however, it is important to use cross-validation to prune the tree in order to narrow it down to the most important variables.

Keywords: online social networks, data mining, social cloud computing, interaction and collaboration

Procedia PDF Downloads 133
2531 Measures of Corporate Governance Efficiency on the Quality Level of Value Relevance Using IFRS and Corporate Governance Acts: Evidence from African Stock Exchanges

Authors: Tchapo Tchaga Sophia, Cai Chun

Abstract:

This study measures the efficiency level of corporate governance to improve the quality level of value relevance in the resolution of market value efficiency increase issues, transparency problems, risk frauds, agency problems, investors' confidence, and decision-making issues using IFRS and Corporate Governance Acts (CGA). The final sample of this study contains 3660 firms from ten countries' stock markets from 2010 to 2020. Based on the efficiency market theory and the positive accounting theory, this paper uses multiple econometrical methods (DID method, multivariate and univariate regression methods) and models (Ohlson model and compliance index model) regression to see the incidence results of corporate governance mechanisms on the value relevance level under the influence of IFRS and corporate governance regulations act framework in Africa's stock exchanges for non-financial firms. The results on value relevance show that the corporate governance system, strengthened by the adoption of IFRS and enforcement of new corporate governance regulations, produces better financial statement information when its compliance level is high. And that is both value-relevant and comparable to results in more developed markets. Similar positive and significant results were obtained when predicting future book value per share and earnings per share through the determination of stock price and stock return. The findings of this study have important implications for regulators, academics, investors, and other users regarding the effects of IFRS and the Corporate Governance Act (CGA) on the relationship between corporate governance and accounting information relevance in the African stock market. The contributions of this paper are also based on the uniqueness of the data used in this study. The unique data is from Africa, and not all existing findings provide evidence for Africa and of the DID method used to examine the relationship between corporate governance and value relevance on African stock exchanges.

Keywords: corporate governance value, market efficiency value, value relevance, African stock market, stock return-stock price

Procedia PDF Downloads 46
2530 Usage of Internet Technology in Financial Education and Financial Inclusion by Students of Economics Universities

Authors: B. Frączek

Abstract:

The paper analyses the usage of the Internet by university students in Visegrad Countries (4V Countries) who study economic fields in their formal and informal financial education and captures the areas of untapped potential of Internet in educational processes. Higher education and training, technological readiness, and the financial market development are in the group of pillars, that are key for efficiency driven economies. These three pillars have become an inspiration to the research on using the Internet in the financial education among economic university students as the group of the best educated people in finance. The financial education is a process that allows for improving the level of financial literacy. In turn, the financial literacy it is the set of financial knowledge, skills, awareness and patterns influencing the financial decisions. The level of financial literacy influences the level of financial well-being of individuals, determines the scale of saving of households and at the same time gives the greater chance for sustainable and more predictable development of the financial market with the positive impact on economy. The financial literacy is necessary for each group of society but its appropriate level is desirable especially in respect of economics students as future participants of financial markets as well as the experts and advisors in financial decision making. The low level of financial literacy is the great problem of many target groups in both developing and developed countries and the financial education is seen as the best way of improving this situation. Also the financial inclusion plays the special role in enhancing the level of financial literacy in the aspect of education by practice as well as due to interrelation between level of financial literacy and degree of financial inclusion. Despite many initiatives under financial education, the level of financial literacy is still very low. Scientists still search for new ways of solving this problem. One of the proposal is more effective usage of the new technology in financial education, especially the Internet, because of the growing popularity of e-learning and the increasing number of Internet users, especially among young people who are called the Generation Net. Due to special role of the university students studying the economics fields for the future financial markets, students of four universities from Visegrad Countries (Czech Republic, Hungary, Poland and Slovakia) were invited to participate in the survey. The aim of the article is to present the level and ways of using the Internet technology in financial education and indicating the so far unused or underused opportunities.

Keywords: financial education, financial inclusion, financial literacy, internet and university education

Procedia PDF Downloads 301
2529 Navigating States of Emergency: A Preliminary Comparison of Online Public Reaction to COVID-19 and Monkeypox on Twitter

Authors: Antonia Egli, Theo Lynn, Pierangelo Rosati, Gary Sinclair

Abstract:

The World Health Organization (WHO) defines vaccine hesitancy as the postponement or complete denial of vaccines and estimates a direct linkage to approximately 1.5 million avoidable deaths annually. This figure is not immune to public health developments, as has become evident since the global spread of COVID-19 from Wuhan, China in early 2020. Since then, the proliferation of influential, but oftentimes inaccurate, outdated, incomplete, or false vaccine-related information on social media has impacted hesitancy levels to a degree described by the WHO as an infodemic. The COVID-19 pandemic and related vaccine hesitancy levels have in 2022 resulted in the largest drop in childhood vaccinations of the 21st century, while the prevalence of online stigma towards vaccine hesitant consumers continues to grow. Simultaneously, a second disease has risen to global importance: Monkeypox is an infection originating from west and central Africa and, due to racially motivated online hate, was in August 2022 set to be renamed by the WHO. To better understand public reactions towards two viral infections that became global threats to public health no two years apart, this research examines user replies to threads published by the WHO on Twitter. Replies to two Tweets from the @WHO account declaring COVID-19 and Monkeypox as ‘public health emergencies of international concern’ on January 30, 2020, and July 23, 2022, are gathered using the Twitter application programming interface and user mention timeline endpoint. Research methodology is unique in its analysis of stigmatizing, racist, and hateful content shared on social media within the vaccine discourse over the course of two disease outbreaks. Three distinct analyses are conducted to provide insight into (i) the most prevalent topics and sub-topics among user reactions, (ii) changes in sentiment towards the spread of the two diseases, and (iii) the presence of stigma, racism, and online hate. Findings indicate an increase in hesitancy to accept further vaccines and social distancing measures, the presence of stigmatizing content aimed primarily at anti-vaccine cohorts and racially motivated abusive messages, and a prevalent fatigue towards disease-related news overall. This research provides value to non-profit organizations or government agencies associated with vaccines and vaccination programs in emphasizing the need for public health communication fitted to consumers' vaccine sentiments, levels of health information literacy, and degrees of trust towards public health institutions. Considering the importance of addressing fears among the vaccine hesitant, findings also illustrate the risk of alienation through stigmatization, lead future research in probing the relatively underexamined field of online, vaccine-related stigma, and discuss the potential effects of stigma towards vaccine hesitant Twitter users in their decisions to vaccinate.

Keywords: social marketing, social media, public health communication, vaccines

Procedia PDF Downloads 83
2528 Polarization as a Proxy of Misinformation Spreading

Authors: Michela Del Vicario, Walter Quattrociocchi, Antonio Scala, Ana Lucía Schmidt, Fabiana Zollo

Abstract:

Information, rumors, and debates may shape and impact public opinion heavily. In the latest years, several concerns have been expressed about social influence on the Internet and the outcome that online debates might have on real-world processes. Indeed, on online social networks users tend to select information that is coherent to their system of beliefs and to form groups of like-minded people –i.e., echo chambers– where they reinforce and polarize their opinions. In this way, the potential benefits coming from the exposure to different points of view may be reduced dramatically, and individuals' views may become more and more extreme. Such a context fosters misinformation spreading, which has always represented a socio-political and economic risk. The persistence of unsubstantiated rumors –e.g., the hypothetical and hazardous link between vaccines and autism– suggests that social media do have the power to misinform, manipulate, or control public opinion. As an example, current approaches such as debunking efforts or algorithmic-driven solutions based on the reputation of the source seem to prove ineffective against collective superstition. Indeed, experimental evidence shows that confirmatory information gets accepted even when containing deliberately false claims while dissenting information is mainly ignored, influences users’ emotions negatively and may even increase group polarization. Moreover, confirmation bias has been shown to play a pivotal role in information cascades, posing serious warnings about the efficacy of current debunking efforts. Nevertheless, mitigation strategies have to be adopted. To generalize the problem and to better understand social dynamics behind information spreading, in this work we rely on a tight quantitative analysis to investigate the behavior of more than 300M users w.r.t. news consumption on Facebook over a time span of six years (2010-2015). Through a massive analysis on 920 news outlets pages, we are able to characterize the anatomy of news consumption on a global and international scale. We show that users tend to focus on a limited set of pages (selective exposure) eliciting a sharp and polarized community structure among news outlets. Moreover, we find similar patterns around the Brexit –the British referendum to leave the European Union– debate, where we observe the spontaneous emergence of two well segregated and polarized groups of users around news outlets. Our findings provide interesting insights into the determinants of polarization and the evolution of core narratives on online debating. Our main aim is to understand and map the information space on online social media by identifying non-trivial proxies for the early detection of massive informational cascades. Furthermore, by combining users traces, we are finally able to draft the main concepts and beliefs of the core narrative of an echo chamber and its related perceptions.

Keywords: information spreading, misinformation, narratives, online social networks, polarization

Procedia PDF Downloads 273
2527 Effect of E-Governance and E-Learning Platform on Access to University Education by Public Servants in Nigeria

Authors: Nwamaka Patricia Ibeme, Musa Zakari

Abstract:

E-learning is made more effective because; it is enable student to students to easily interact, share, and collaborate across time and space with the help of e-governance platform. Zoom and the Microsoft classroom team can invite students from all around the world to join a conversation on a certain subject simultaneously. E-governance may be able to work on problem solving skills, as well as brainstorming and developing ideas. As a result of the shared experiences and knowledge, students are able to express themselves and reflect on their own learning." For students, e-governance facilities provide greater opportunity for students to build critical (higher order) thinking abilities through constructive learning methods. Students' critical thinking abilities may improve with more time spent in an online classroom. Students' inventiveness can be enhanced through the use of computer-based instruction. Discover multimedia tools and produce products in the styles that are easily available through games, Compact Disks, and television. The use of e-learning has increased both teaching and learning quality by combining student autonomy, capacity, and creativity over time in developed countries." Teachers are catalysts for the integration of technology through Information and Communication Technology, and e-learning supports teaching by simplifying access to course content." Creating an Information and Communication Technology class will be much easier if educational institutions provide teachers with the assistance, equipment, and resources they need. The study adopted survey research design. The populations of the study are Students and staff. The study adopted a simple random sampling technique to select a representative population. Both primary and secondary method of data collection was used to obtain the data. A chi-square statistical technique was used to analyze. Finding from the study revealed that e-learning has increase accesses to universities educational by public servants in Nigeria. Public servants in Nigeria have utilized e-learning and Online Distance Learning (ODL) programme to into various degree programmes. Finding also shows that E-learning plays an important role in teaching because it is oriented toward the use of information and communication technologies that have become a part of the everyday life and day-to-day business. E-learning contributes to traditional teaching methods and provides many advantages to society and citizens. The study recommends that the e-learning tools and internet facilities should be upgrade to foster any network challenges in the online facilitation and lecture delivery system.

Keywords: E-governance, E-learning, online distance learning, university education public servants, Nigeria

Procedia PDF Downloads 54
2526 Employing Innovative Pedagogy: Collaborative (Online) Learning and Teaching In An International Setting

Authors: Sonja Gögele, Petra Kletzenbauer

Abstract:

International strategies are ranked as one of the core activities in the development plans of Austrian universities. This has led to numerous promising activities in terms of internationalization (i.e. development of international degree programmes, increased staff, and student mobility, and blended international projects). The latest innovative approach are so called Blended Intensive Programmes (BIP), which combine jointly delivered teaching and learning elements of at least three participating ERASMUS universities in a virtual and short-term mobility setup. Students who participate in BIP can maintain their study plans at their home institution and include BIP as a parallel activity. This paper presents the experiences of this programme on the topic of sustainable computing hosted by the University of Applied Sciences FH JOANNEUM. By means of an online survey and face-to-face interviews with all stakeholders (20 students, 8 professors), the empirical study addresses the challenges of hosting an international blended learning programme (i.e. virtual phase and on-site intensive phase) and discusses the impact of such activities in terms of innovative pedagogy (i.e. virtual collaboration, research-based learning).

Keywords: internationalization, collaborative learning, blended intensive programme, pedagogy

Procedia PDF Downloads 116
2525 Online Consortium of Independent Colleges and Universities (OCICU): Using Cluster Analysis to Grasp Student and Institutional Value of Consolidated Online Offerings in Higher Education

Authors: Alex Rodriguez, Adam Guerrero

Abstract:

Purpose: This study is designed to examine the institutions that comprise the Online Consortium of Independent Colleges and Universities (OCICU) to understand better the types of higher education institutions that comprise their membership. The literature on this topic is extensive in analyzing the current economic environment around higher education, which is largely considered to be negative for independent, tuition-driven institutions, and is forcing colleges and universities to reexamine how the college-attending population defines value and how institutions can best utilize their existing resources (and those of other institutions) to meet that value expectation. The results from this analysis are intended to give OCICU the ability to target their current customer base better, based on their most notable differences, and other institutions to see how to best approach consolidation within higher education. Design/Methodology: This study utilized k-means cluster analysis in order to explore the possibility that different segments exist within the seventy-one colleges and universities that have comprised OCICU. It analyzed fifty different variables, whose selection was based on the previous literature, collected by the Integrated Postsecondary Education Data System (IPEDS), whose data is self-reported by individual institutions. Findings: OCICU member institutions are partitioned into two clusters: "access institutions" and "conventional institutions” based largely on the student profile they target. Value: The methodology of the study is relatively unique as there are not many studies within the field of higher education marketing that have employed cluster analysis, and this type of analysis has never been conducted on OCICU members, specifically, or that of any higher education consolidated offering. OCICU can use the findings of this study to obtain a better grasp as to the specific needs of the two market segments OCICU currently serves and develop measurable marketing programs around how those segments are defined that communicate the value sought by current and potential OCICU members or those of similar institutions. Other consolidation efforts within higher education can also employ the same methodology to determine their own market segments.

Keywords: Consolidation, Colleges, Enrollment, Higher Education, Marketing, Strategy, Universities

Procedia PDF Downloads 117
2524 The Interplay between Consumer Knowledge, Cognitive Effort, Financial Healthiness and Trust in the Financial Marketplace

Authors: Torben Hansen

Abstract:

While trust has long been regarded as one of the most critical variables for developing and maintaining well-functioning financial customer-seller relationships it can be suggested that trust not only relates to customer trust in individual companies (narrow-scope trust). Trust also relates to the broader business context in which consumers may carry out their financial behaviour (broad-scope trust). However, despite the well-recognized significance of trust in marketing research, only few studies have investigated the role of broad-scope trust in consumer financial behaviour. Moreover, as one of its many serious outcomes, the global financial crisis has elevated the need for an improved understanding of the role of broad-scope trust in consumer financial services markets. Only a minority of US and European consumers are currently confident in financial companies and ‘financial stability’ and ‘trust’ are now among the top reasons for choosing a bank. This research seeks to address this shortcoming in the marketing literature by investigating direct and moderating effects of broad-scope trust on consumer financial behaviour. Specifically, we take an ability-effort approach to consumer financial behaviour. The ability-effort approach holds the basic premise that the quality of consumer actions is influenced by ability factors, for example consumer knowledge and cognitive effort. Our study is based on two surveys. Survey 1 comprises 1,155 bank consumers, whereas survey 2 comprises 764 pension consumers. The results indicate that broad-scope trust negatively moderates relationships between knowledge and financial healthiness and between cognitive effort and financial healthiness. In addition, it is demonstrated that broad-scope trust negatively influences cognitive effort. Specifically, the results suggest that broad-scope trust contributes to the financial well-being of consumers with limited financial knowledge and processing capabilities. Since financial companies are dependent on customers to pay their loans and bills they have a greater interest in developing relations with consumers with a healthy financial behaviour than with the opposite. Hence, financial managers should be engaged with monitoring and influencing broad-scope trust. To conclude, by taking into account the contextual effect of broad-scope trust, the present study adds to our understanding of knowledge-effort-behaviour relationship in consumer financial markets.

Keywords: cognitive effort, customer-seller relationships, financial healthiness, knowledge, trust

Procedia PDF Downloads 421