Search results for: demand-supply-fare relationship

Authors: Noor Azlina Mohamed Yunus, Baharom Abd Rahman, Abdul Kadir Othman, Narehan Hassan, Rohana Mat Som, Ibhrahim Zakaria

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Customer satisfaction and customer loyalty are the most important outcomes of marketing in which both elements serve various stages of consumer buying behavior. Excellent service quality has become a major corporate goal as more companies gradually struggle for quality for their products and services. Therefore, the main purpose of this study is to investigate the influence of service quality on customer satisfaction and customer loyalty at one telecommunication company in Malaysia which is Telekom Malaysia. The scope of this research is to evaluate satisfaction on the products or services at TMpoint Bukit Raja, Malaysia. The data are gathered through the distribution of questionnaires to a total of 306 respondents who visited and used the products or services. By using correlation and multiple regression analyses, the result revealed that there was a positive and significant relationship between service quality and customer satisfaction. The most influential factor on customer satisfaction was empathy followed by reliability, assurance and tangibles. However, there was no significant influence between responsiveness and customer satisfaction. The result also showed there was a positive and significant relationship between service quality and customer loyalty. The most influential factor on customer loyalty was assurance followed by reliability and tangibles. TMpoint Bukit Raja is recommended to device excellent strategies to satisfy customers’ needs and to adopt action-oriented approach by focusing on what the customers wanted. It is also recommended that similar study can be carried out in other industries using different methodologies such as longitudinal method, enlarge the sample size and use a qualitative approach.

Keywords: customer satisfaction, customer loyalty, service quality, telecommunication company

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Authors: Tessa Sellis, Marike A. Wierda, Elke Tichelman, Mirjam T. Van Lohuizen, Marjolein Berger, François Schellevis, Claudi Bockting, Lilian Peters, Huib Burger

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Introduction: Most women develop a healthy bond with their children, however, adequate mother-to-infant bonding cannot be taken for granted. Mother-to-infant bonding refers to the feelings and emotions experienced by the mother towards her child. It is an ongoing process that starts during pregnancy and develops during the first year postpartum and likely throughout early childhood. The prevalence of inadequate bonding ranges from 7 to 11% in the first weeks postpartum. An impaired mother-to-infant bond can cause long-term complications for both mother and child. Very little research has been conducted on the direct relationship between the personality of the mother and mother-to-infant bonding. This study explores the associations between maternal personality and postnatal mother-to-infant bonding. The main hypothesis is that there is a relationship between neuroticism and mother-to-infant bonding. Methods: Data for this study were used from the Pregnancy Anxiety and Depression Study (2010-2014), which examined symptoms of and risk factors for anxiety or depression during pregnancy and the first year postpartum of 6220 pregnant women who received primary, secondary or tertiary care in the Netherlands. The study was expanded in 2015 to investigate postnatal mother-to-infant bonding. For the current research 3836 participants were included. During the first trimester of gestation, baseline characteristics, as well as personality, were measured through online questionnaires. Personality was measured by the NEO Five Factor Inventory (NEO-FFI), which covers the big five of personality (neuroticism, extraversion, openness, altruism and conscientiousness). Mother-to-infant bonding was measured postpartum by the Postpartum Bonding Questionnaire (PBQ). Univariate linear regression analysis was performed to estimate the associations. Results: 5% of the PBQ-respondents reported impaired bonding. A statistically significant association was found between neuroticism and mother-to-infant bonding (p < .001): mothers scoring higher on neuroticism, reported a lower score on mother-to-infant bonding. In addition, a positive correlation was found between the personality traits extraversion (b: -.081), openness (b: -.014), altruism (b: -.067), conscientiousness (b: -.060) and mother-to-infant bonding. Discussion: This study is one of the first to demonstrate a direct association between the personality of the mother and mother-to-infant bonding. A statistically significant relationship has been found between neuroticism and mother-to-infant bonding, however, the percentage of variance predictable by a personality dimension is very small. This study has examined one part of the multi-factorial topic of mother-to-infant bonding and offers more insight into the rarely investigated and complex matter of mother-to-infant bonding. For midwives, it is important recognize the risks for impaired bonding and subsequently improve policy for women at risk.

Keywords: mother-to-infant bonding, personality, postpartum, pregnancy

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Authors: Saima Kalsoom, Sobia Masood, Muhammad Faran

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This study aimed to examine the association between emotional intelligence and gender role attitudes of married individuals. Another aim of this study was to test the moderating role of gender work status of married individuals for predicting gender role attitudes from emotional intelligence. A sample of (N = 500) married working men and women (both working & housewives) was approached through purposive convenience sampling technique. The data was collected employing cross-sectional research design. The indigenous versions of the Gender Role Attitudes Scale and perceived Emotional Intelligence Scale were used. The results of alpha coefficients for both the scales and subscales used in this study designated satisfactory evidence for internal consistency and reliability. Assessment of correlation coefficients showed significant positive correlation between gender role attitudes and emotional intelligence, subfactors of emotional intelligence i.e., emotional self-regulation, emotional self-awareness, and interpersonal skills with gender role attitudes. Results of model testing revealed that gender (the effect was significant for women) and work status (the effect was more significant for married working women than married working men and housewives) of the married individuals significantly moderated the relationship between emotional intelligence and gender role attitudes into the positive direction. Further, it was also found that gender and work status also moderated the relationship between emotional self-regulation (as sub factor of emotional intelligence) and gender role attitudes in a positive direction. In conclusion, this empirical evidence is vital contribution derived from the traditional and collectivistic socio-cultural background of Pakistan.

Keywords: gender role attitudes, emotional intelligence, emotional self-regulation, gender, work status, married working women

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Authors: Serin Darwish, Hakim Saibi, Amir Gabr

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The United Arab Emirates (UAE) is situated within an arid zone where the climate is arid and the recharge of the groundwater is very low. Groundwater is the primary source of water in the United Arab Emirates. However, rapid expansion, population growth, agriculture, and industrial activities have negatively affected these limited water resources. The shortage of water resources has become a serious concern due to the over-pumping of groundwater to meet demand. In addition to the deficit of groundwater, the UAE has one of the highest per capita water consumption rates in the world. In this study, a combination of time-lapse measurements of microgravity and depth to groundwater level in selected wells in Al Ain city was used to estimate the variations in groundwater storage. Al-Ain is the second largest city in Abu Dhabi Emirates and the third largest city in the UAE. The groundwater in this region has been overexploited. Relative gravity measurements were acquired using the Scintrex CG-6 Autograv. This latest generation gravimeter from Scintrex Ltd provides fast, precise gravity measurements and automated corrections for temperature, tide, instrument tilt and rejection of data noise. The CG-6 gravimeter has a resolution of 0.1μGal. The purpose of this study is to measure the groundwater storage changes in the shallow aquifers based on the application of microgravity method. The gravity method is a nondestructive technique that allows collection of data at almost any location over the aquifer. Preliminary results indicate a possible relationship between microgravity and water levels, but more work needs to be done to confirm this. The results will help to develop the relationship between monthly microgravity changes with hydrological and hydrogeological changes of shallow phreatic. The study will be useful in water management considerations and additional future investigations.

Keywords: Al-Ain, arid region, groundwater, microgravity

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Authors: Nimrod Bantigue

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The Department of Education is continuously providing safe teaching-learning facilities and hazard-free environments to the learners. To achieve this goal, teachers’ awareness of DepEd’s DRRM programs and activities is extremely important; thus, this descriptive correlational quantitative study was conceptualized. This research answered four questions on the profile and level of awareness of the 153 teacher respondents of Oriental Mindoro National High School for the academic year 2018-2019. Stratified proportional sampling was employed, and both descriptive and inferential statistics were utilized to treat data. The findings revealed that the majority of the teachers at OMNHS are female and are in the age bracket of 20-40. Most are married and pursue graduate studies. They have moderate awareness of the Department of Education’s DRRM programs and activities in terms of assessment of risks activities, planning activities, implementation activities during disaster and evaluation and monitoring activities with 3.32, 3.12, 3.40 and 3.31 as computed means, respectively. Further, the result showed a significant relationship between the profile of the respondents such as age, civil status and educational attainment and the level of awareness. On the contrary, sex does not have a significant relationship with the level of awareness. The Support School DRRM program with Utilization Guide on School DRRM Manual was proposed to increase, improve and strengthen the weakest areas of awareness rated in each DRRM activity, such as assessment of risks, planning, and implementation during disasters and monitoring and evaluation.

Keywords: awareness, management, monitoring, risk reduction

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Authors: Jessica Wood, Serge Desmarais

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There has been recent resurgence in the popular and academic interest of consensual non-monogamous (CNM) relationships- an umbrella term that defines relationships in which each partner has openly agreed to engage in additional romantic and/or sexual relationships outside of their primary partnership. Despite an increase in the academic study of CNM, little psychological attention has been paid to the study of CNM, with the consideration of these relationships commonly occurring within related social science disciplines such as sociology or anthropology. As a discipline, psychology has a history of conducting research in the area of intimate relationships, and psychologists have amassed a wealth of theoretical knowledge in this field. However, historically individuals who engage in "alternative" sexual and romantic behaviours, such as non-heterosexual sex or sex with multiple partners have been pathologized within psychological research. Individuals in CNM relationships or individuals identifying as lesbian, gay, bisexual, trans or queer have often been excluded from research or “othered” in psychological interpretations of what healthy relationships entail. Thus, our current theoretical understandings of romantic relationships are limited to heterosexual, monogamous relationships. The goal of this presentation is to examine commonly cited components of relationship satisfaction (e.g., commitment, communication) and to critically assess how CNM experiences are presented in, or missing from, the psychological literature on romantic relationships. Additionally, the presentation will also consider how CNM relationships may add to our understanding or enhancement of traditional psychological theories and address issues related to heteronormativity and mononormativity within the discipline. Finally, we will close with a consideration of additional theoretical perspectives that may aid in our understanding of CNM relationships and suggest directions for future research.

Keywords: heteronormativity, mononormativity, psychological research, diverse relationships, gender, sexuality, feminism, queer theory

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Authors: Huang Gui

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The issues of human rights and death penalty are always drawing attentions from international scholars, critics and observers, activities and Chinese scholars, and most of them looking at these problems are just doing with such legal or political from a single perspective, but the real relationship between Chinese political regime and legislation is often ignored. In accordance with the Constitution of P.R.C., Communist Party of China (CPC) does not merely play a key role in political field, but in legislation and law enforcement as well. Therefore, the legislation has to implement the party’s theory and outlook, and realize the party’s policies. So is the death penalty system, though it is only concrete punishment system. Considering this point, basic upon the introducing the relationship between CPC and legislation, this paper would like to explore the shifting of CPC’s outlook on human rights and the death penalty system changes in different eras. In Maoist era, the issue of human rights was rejected and deemed as an exclusion zone, and the death penalty was unjustifiably imposed; human rights were politically recognized and accepted in Deng era, but CPC has its own viewpoints on it. CPC emphasized on national security and stability in that era, and the individual human rights weren’t taken correspondingly and reasonably account of. The death penalty was abused and deemed as an important measure to control crime. In post-Deng, human rights were gradually developed and recognized. The term of ‘state respect and protect human rights’ is contained in Constitution of P.R.C., and the individual human rights are gradually valued, but the CPC still focus on state security, development, and stability, the individual right to life hasn’t been enough valued like the right to substance. Although the steps of reforming death penalty are taking, there are still 46 crimes punishable by death. CPC should change its outlook and pay more attention to the right to life, and try to abolish death penalty de facto and de jure.

Keywords: criminal law, communist party of China, death penalty, human rights, China

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Authors: Ewa Mojs, Katarzyna Wiechec, Maia Kubiak, Wlodzimierz Samborski

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Interactions between mother’s psychological condition and child’s health status are complex and derive from the nature of the mother-child relationship. The aim of the study was to analyze the issue of anxiety amongst mothers of short children in the aspect of growth hormone therapy. The study was based on a group of 101 mothers of originally short-statured children – 70 with growth hormone deficiency (GHD) treated with recombinant human growth hormone (rhGH) and 31 undergoing the diagnostic process, without any treatment. Collected medical data included child's gender, height and weight, chronological age, bone age delay, and rhGH therapy duration. For all children, the height SDS and BMI SDS were calculated. To evaluate anxiety in mothers, the Spielberger State-Trait Anxiety Inventory (STAI) was used. Obtained results revealed low trait anxiety levels, with no statistically significant differences between the groups. State anxiety levels were average when mothers of all children were analyzed together, but when divided into groups, statistical differences appeared. Mothers of children without diagnosis and treatment had significantly higher levels of state anxiety than mothers of children with GHD receiving appropriate therapy. These results show, that the occurrence of growth failure in children is not related to high maternal trait anxiety, but the lack of diagnosis and lack of appropriate treatment generates higher levels of maternal state anxiety than the process of rh GH therapy in the offspring. Commencement of growth hormone therapy induce a substantial reduction of the state anxiety in mothers, and the duration of treatment causes its further decrease.

Keywords: anxiety, development, growth hormone deficiency, motherhood

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Authors: Zheng Yi

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Among the attempts made worldwide to foster urban and transport sustainability, transit-oriented development certainly is one of the most successful. Residents' travel behavior is a concern in the researches about the impacts of transit-oriented development. The study takes 620 English journal papers in the core collection database of Web of Science as the study objects; the paper tries to map out the scientific knowledge mapping in the field and draw the basic conditions by co-citation analysis, co-word analysis, a total of citation network analysis and visualization techniques. This study teases out the research hotspots and evolution of the relationship between urban rail transit and resident's travel behavior from 1999 to 2019. According to the results of the analysis of the time-zone view and burst-detection, the paper discusses the trend of the next stage of international study. The results show that in the past 20 years, the research focuses on these keywords: land use, behavior, model, built environment, impact, travel behavior, walking, physical activity, smart card, big data, simulation, perception. According to different research contents, the key literature is further divided into these topics: the attributes of the built environment, land use, transportation network, transportation policies. The results of this paper can help to understand the related researches and achievements systematically. These results can also provide a reference for identifying the main challenges that relevant researches need to address in the future.

Keywords: urban rail transit, travel behavior, knowledge map, evolution of researches

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Authors: Homa Hedayat

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In the dynamic urban landscape of Toronto, the concept of belonging assumes paramount importance. As global challenges—such as the pandemic, financial instability, and geopolitical shifts—reshape our world, understanding how different generations of immigrants establish connections within this multicultural metropolis becomes increasingly vital. Our research delves into forming a sense of belonging in urban spaces, specifically focusing on the experiences of Iranian immigrants residing in Toronto. By examining their perceptions of public places, attachment to residential neighborhoods, and the impact of the urban environment, we contribute to a more holistic understanding of social sustainability and community well-being. We unravel the intricate interplay between individual characteristics, housing context, and neighborhood dynamics through qualitative interviews and a quantitative survey. This research presents a study of the perception of public places and sense of belonging in residential neighbourhoods by younger and older Iranian immigrants living in the Toronto metropolitan area. Few works in the existing literature have investigated the relationship immigrants develop with the shared spaces of the city and their residential environment and how that relationship can impact the development of a ‘sense of belonging’ in the city. Ultimately, our findings pave the way for inclusive and cohesive urban environments, fostering connections across generations and enhancing Toronto’s resilience and harmony. As Toronto continues to evolve, nurturing a sense of belonging becomes paramount. Our research emphasizes the importance of social cohesion and community well-being. By fostering connections across generations, we pave the way for a more resilient and harmonious city.

Keywords: sense of belonging, multigenerational, urban spaces, social sustainability

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Authors: Mamoona Rasheed, Salman Iqbal, Muhammad Abdullah

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Organizational capability, in terms of employees’ knowledge is valuable, and difficult to reproduce; and help to build sustainable competitive advantages. Knowledge capability is linked with human resource (HR) practices of an organization. This paper investigates the relationship between HR practices, knowledge management and organization capability. In an organization, employees play key role for the effective organizational performance by sharing their knowledge with management and co-workers that contributes towards organization capability. Pakistan being a developing country has different HR practices and culture. The business opportunities give rise to the discussion about the effect of HR practices on knowledge management and organization capability as innovation performance. An empirical study is conducted through questionnaires form the employees in private banks of Lahore, Pakistan. The data is collected via structured questionnaire with a sample of 120 cases. Data is analyzed using Structure Equation Modeling (SEM), and results are depicted using AMOS software. Results of this study are tabulated, interpreted and crosschecked with other studies. Findings suggest that there is a positive relationship of training & development along with incentives on knowledge management. On the other hand, employee’s participation has insignificant association with knowledge management. In addition, knowledge management has also positive association with organization capability. In line with the previous research, it is suggested that knowledge management is important for improving the organizational capability such as innovation performance and knowledge capacity of firm. Organization capability may improve significantly once specific HR practices are properly established and implemented by HR managers. This Study has key implications for knowledge management and innovation fields theoretically and practically.

Keywords: employee participation, incentives, knowledge management, organization capability, training and development

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Authors: Mohammed Abaoli, Omer Kara

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The current research has investigated the soil quality status under dryland vegetation of Yabello district, Southern Ethiopia in which we should identify the nature and extent of salinity problem of the area for further research bases. About 48 soil samples were taken from 0-30, 31-60, 61-90 and 91-120 cm soil depths by opening 12 representative soil profile pits at 1.5 m depth. Soil color, texture, bulk density, Soil Organic Carbon (SOC), Cation Exchange Capacity (CEC), Na, K, Mg, Ca, CaCO₃, gypsum (CaSO₄), pH, Sodium Adsorption Ratio (SAR), Exchangeable Sodium Percentage (ESP) were analyzed. The dominant soil texture was silty-clay-loam.  Bulk density varied from 1.1 to 1.31 g/cm³. High SOC content was observed in 0-30 cm. The soil pH ranged from 7.1 to 8.6. The electrical conductivity shows indirect relationship with soil depth while CaCO₃ and CaSO₄ concentrations were observed in a direct relationship with depth. About 41% are non-saline, 38.31% saline, 15.23% saline-sodic and 5.46% sodic soils. Na concentration in saline soils was greater than Ca and Mg in all the soil depths. Ca and Mg contents were higher above 60 cm soil depth in non-saline soils. The concentrations of SO₂^-4 and HCO^-3 were observed to be higher at the most lower depth than upper. SAR value tends to be higher at lower depths in saline and saline-sodic soils, but decreases at lower depth of the non-saline soils. The distribution of ESP above 60 cm depth was in an increasing order in saline and saline-sodic soils. The result of the research has shown the direction to which extent of salinity we should consider for the Commiphora plant species we want to grow on the area. 

Keywords: commiphora species, dryland vegetation, ecological significance, soil quality, salinity problem

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Authors: Arlene López-Sampson, Tony Page, Betsy Jackes

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Aquilaria genus produces a highly valuable fragrant oleoresin known as agarwood. Agarwood forms in a few trees in the wild as a response to injure or pathogen attack. The resin is used in perfume and incense industry and medicine. Cultivation of Aquilaria species as a sustainable source of the resin is now a common strategy. Physiological traits are frequently used as a proxy of crop and tree productivity. Aquilaria species growing in Queensland, Australia were studied to investigate relationship between leaf-productivity traits with tree growth. Specifically, 28 trees, representing 12 plus trees and 16 trees from yield plots, were selected to conduct carbon isotope analysis (δ13C) and monitor six leaf attributes. Trees were grouped on four diametric classes (diameter at 150 mm above ground level) ensuring the variability in growth of the whole population was sampled. Model averaging technique based on the Akaike’s information criterion (AIC) was computed to identify whether leaf traits could assist in diameter prediction. Carbon isotope values were correlated with height classes and leaf traits to determine any relationship. In average four leaves per shoot were recorded. Approximately one new leaf per week is produced by a shoot. Rate of leaf expansion was estimated in 1.45 mm day-1. There were no statistical differences between diametric classes and leaf expansion rate and number of new leaves per week (p > 0.05). Range of δ13C values in leaves of Aquilaria species was from -25.5 ‰ to -31 ‰ with an average of -28.4 ‰ (± 1.5 ‰). Only 39% of the variability in height can be explained by δ13C in leaf. Leaf δ13C and nitrogen content values were positively correlated. This relationship implies that leaves with higher photosynthetic capacities also had lower intercellular carbon dioxide concentrations (ci/ca) and less depleted values of 13C. Most of the predictor variables have a weak correlation with diameter (D). However, analysis of the 95% confidence of best-ranked regression models indicated that the predictors that could likely explain growth in Aquilaria species are petiole length (PeLen), values of δ13C (true13C) and δ15N (true15N), leaf area (LA), specific leaf area (SLA) and number of new leaf produced per week (NL.week). The model constructed with PeLen, true13C, true15N, LA, SLA and NL.week could explain 45% (R2 0.4573) of the variability in D. The leaf traits studied gave a better understanding of the leaf attributes that could assist in the selection of high-productivity trees in Aquilaria.

Keywords: 13C, petiole length, specific leaf area, tree growth

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Authors: Benukar Biswas, S. Banerjee, P. K. Bandhyopadhyaya, S. K. Patra, S. Sarkar

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Jute can be sown as relay crop in between the lines of 15-20 days old green gram for additional pulse yield without reducing the yield of jute. The main problem of this system is water use efficiency (WUE). The increase in water productivity and reduction in production cost were reported in the zero-tilled crop. The hydrogel can hold water up to 400 times of its weight and can release 95 % of the retained water. The present field study was carried out during 2015-16 at BCKV (tropical sub-humid, 1560 mm annual rainfall, 22058/ N, 88051/ E, 9.75 m AMSL, sandy loam soil, aeric Haplaquept, pH 6.75, organic carbon 5.4 g kg-1, available N 85 kg ha-1, P2O5 15.3 kg ha-1 and K2O 40 kg ha-1) with four levels of irrigation regimes: no irrigation - RF, cumulative pan evaporation 250mm (CPE250), CPE125 and CPE83 and three levels of hydrogel: no hydrogel (H0), 2.5 kg ha-1 (H2.5) and 5 kg ha-1 (H5). Throughout the crop growing period a linear positive relationship remained between Leaf Area Index (LAI) and evapotranspiration rate. The strength of the relationship between ETa and LAI started increasing and reached its peak at 7 WAS (R2=0.78) when green gram was at its maturity, and both the crops covered the nearly entire base area. This relation starts weakening from 13 WAS due to jute leaf shading. A linear relationship between system yield and ET was also obtained in the present study. The variation in system yield might be predicted 75% with ET alone. Effective rainfall was reduced with increasing irrigation frequency due to enhanced water supply in contrast to hydrogel application due to the difference in water storage capacity. Irrigation contributed a major source of variability of ET. Higher irrigation frequency resulted in higher ET loss ranging from 574 mm in RF to 764 mm in CPE83. Hydrogel application also increased water storage on a sustained basis and supplied to crops resulting higher ET from 639 mm in H0 to 671mm in H5. WUE ranged between 0.4 kg m-3 (RF) to 0.63 kg m-3 (CPE83 H5). WUE increased with increased application of irrigation water from 0.42 kg m-3 in RF to 0.57 kg m-3 in CPE 83. Hydrogel application significantly improves the WUE from 0.45 kg m-3 in H0 to 0.50 in H2.5 and 0.54 in H5. Under relatively dry root zone (RF), both evaporation and transpiration remain at suboptimal level resulting in lower ET as well as lower system yield. Green gram – jute relay system can be water use efficient with 38% higher yield with application of hydrogel @ 2.5 kg ha-1 under deficit irrigation regime of CPE 125 over rainfed system without application of the gel. Application of gel conditioner improved water storage, checked excess water loss from the system, and mitigated ET demand of the relay system for a longer time. Hence, irrigation frequency was reduced from five times at CPE 83 to only three times in CPE 125.

Keywords: zero tillage, deficit irrigation, hydrogel, relay system

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Authors: Armando Luis Vieira, Carlos Costa, Arthur Araújo

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The tourism system is viewable as a network of relationships amongst business partners where the success of each actor will ultimately be determined by the success of the whole network. Especially since the publication of Gümmesson’s (1996) ‘theory of imaginary organisations’, which suggests that organisational effectiveness largely depends on managing relationships and sharing resources and activities, relationship quality (RQ) has been increasingly recognised as a main source of value creation and competitive advantage. However, there is still ambiguity around this topic, and managers and researchers have been recurrently reporting the need to better understand and capitalise on the quality of interactions with business partners. This research aims at testing an RQ model from a relational, imaginary organisation’s approach. Two mail surveys provide the perceptions of 725 hotel representatives about their business relationships with tour operators, and 1,224 corporate client representatives about their business relationships with hotels (21.9 % and 38.8 % response rate, respectively). The analysis contributes to enhance our understanding on the linkages between RQ and its determinants, and identifies the role of their dimensions. Structural equation modelling results highlight trust as the dominant dimension, the crucial role of commitment and satisfaction, and suggest customer orientation as complementary building block. Findings also emphasise problem solving behaviour and selling orientation as the most relevant dimensions of customer orientation. The comparison of the two ‘dyads’ deepens the discussion and enriches the suggested theoretical and managerial guidelines concerning the contribution of quality relationships to business performance.

Keywords: corporate clients, destination competitiveness, hotels, relationship quality, structural equations modelling, tour operators

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Authors: Medagedara Kaushalya Sewwandi Supun Gunarathne

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This research explores the underlying motivations and consequences of individuals changing their sexual orientation as a response to sexual violence. The primary objective of the study is to unravel the psychological, emotional, and social factors that drive individuals, akin to Celie in Alice Walker’s ‘The Color Purple’, to contemplate and undergo changes in their sexual orientation following the trauma of sexual violence. Through an analytical and qualitative approach, the study employs in-depth textual and thematic analyses to scrutinize the complex interplay between sexual orientation and violence within the selected text. Through a close examination of Celie’s journey and experiences, the study reveals that her decision to switch sexual orientation arises from a desire for a more favorable and benevolent relationship driven by the absence of safety and refuge in her previous relationships. By establishing this bond between sexual orientation and violence, the research underscores how sexual violence can lead individuals to opt for a change in their sexual orientation. The findings highlight Celie’s transformation as a means to seek solace and security, thus concluding that sexual violence can prompt individuals to alter their sexual orientation. The ensuing discussion explores the implications of these findings, encompassing psychological, emotional, and social consequences, as well as the societal and cultural factors influencing the perception of sexual orientation. Additionally, it sheds light on the challenges and stigma faced by those who undergo such transformations. By comprehending the complex relationship between sexual violence and the decision to change sexual orientation, as exemplified by Celie in ‘The Color Purple’, a deeper understanding of the experiences of survivors who seek a safe haven through altering their sexual orientation can be attained.

Keywords: sexual violence, sexual orientation, refuge, transition

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Authors: Xingyue Yang

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This study focused on Chinese social media stars and the relationship between their level of fame on the social media platform Sina Weibo and their sales revenue on the E-commerce platform Taobao/Tmall.com. This was viewed from the perspective of Adler’s superstardom theory and Rosen and MacDonald’s theories examining the economics of celebrities who build their audience using digital, rather than traditional platforms. Theory and empirical research support the assertion that stars of traditional media achieve popular success due to a combination of talent and market concentration, as well as a range of other factors. These factors are also generally considered relevant to the popularisation of social media stars. However, success across digital media platforms also involves other variables - for example, upload strategies, cross-platform promotions, which often have no direct corollary in traditional media. These factors were the focus of our study, which investigated the relationship between popularity, promotional strategy and sales revenue for 15 social media stars who specialised in culinary topics on the Chinese social media platform Sina Weibo. In 2019, these food bloggers made a total of 2076 Sina Weibo posts, and these were compiled alongside calculations made to determine each food blogger’s sales revenue on the eCommerce platforms Taobao/Tmall. Quantitative analysis was then performed on this data, which determined that certain upload strategies on Weibo - such as upload time, posting format and length of video - have an important impact on the success of sales revenue on Taobao/Tmall.com.

Keywords: attention economics, digital media, network effect, social media stars

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Authors: Dial Tassadit Rania, Figueiredo De Oliveira Gabriel

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In this paper, we investigate the relationship between ports and their hinterland and foreland environments and the competitive relationship between the ports themselves. These two environments are changing, evolving and introducing new challenges for commercial and economic development at the regional, national and international levels. Because of the rise of the containerization phenomenon, shipping costs and port handling costs have considerably decreased due to economies of scale. The volume of maritime trade has increased substantially and the markets served by the ports have expanded. On these bases, overlapping hinterlands can give rise to the phenomenon of competition between ports. Our main contribution comparing to the existing literature on this issue, is to build a set of hinterland, foreland and competition indicators. Using these indicators? we investigate the effect of hinterland accessibility, foreland connectivity and inter-ports competition on containerized traffic of Europeans ports. For this, we have a 10-year panel database from 2004 to 2014. Our hinterland indicators are given by two indicators of accessibility; they describe the market potential of a port and are calculated using information on population and wealth (GDP). We then calculate population and wealth for different neighborhoods within a distance from a port ranging from 100 to 1000km. For the foreland, we produce two indicators: port connectivity and number of partners for each port. Finally, we compute the two indicators of inter-port competition and a market concentration indicator (Hirshmann-Herfindhal) for different neighborhood-distances around the port. We then apply a fixed-effect model to test the relationship above. Again, with a fixed effects model, we do a sensitivity analysis for each of these indicators to support the results obtained. The econometric results of the general model given by the regression of the accessibility indicators, the LSCI for port i, and the inter-port competition indicator on the containerized traffic of European ports show a positive and significant effect for accessibility to wealth and not to the population. The results are positive and significant for the two indicators of connectivity and competition as well. One of the main results of this research is that the port development given here by the increase of its containerized traffic is strongly related to the development of its hinterland and foreland environment. In addition, it is the market potential, given by the wealth of the hinterland that has an impact on the containerized traffic of a port. However, accessibility to a large population pool is not important for understanding the dynamics of containerized port traffic. Furthermore, in order to continue to develop, a port must penetrate its hinterland at a deep level exceeding 100 km around the port and seek markets beyond this perimeter. The port authorities could focus their marketing efforts on the immediate hinterland, which can, as the results shows, not be captive and thus engage new approaches of port governance to make it more attractive.

Keywords: accessibility, connectivity, European containerization, European hinterland and foreland, inter-port competition

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Authors: Nurezlin Mohd Azib, Pan Kok Chang

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This quantitative study investigates the effects of major and minor modes, and contributing musical parameter of tempo, to the emotional perceptions of ‘happy’ and ‘sad’ in piano music among subjects aged 9-17 years old. The study was conducted in two phases; survey-questionnaire, and listening activity. Subjects (N=31) were sampled from piano music students’ population in Bangi, Selangor. In the survey-questionnaire, subjects answered 20 questions on demographic characteristics, music listening and preference, and understanding of emotional perception in music. In the listening activity, subjects listened to 20 untitled piano music excerpts and rated the emotion perceived for each excerpt, whether ‘happy’ or ‘sad’. Results from survey-questionnaire show that most percentage of subjects are 11 years old, in Grade 1, of 3 years of learning piano, prefer classical music, always listen to music, prefer both major and minor modes’ music, and find it easy to understand emotion in music, as well as major and minor modes. Results from listening activity show that 60 % of major mode music are perceived as ‘major-happy’, while 60 % too, of minor mode music are perceived as ‘minor-sad’. However, Chi-square test of independence statistical analysis indicates that there are no association and significant relationship between modes (major and minor) and ‘happy’, as well as ‘sad’ perceptions (x2 (1, N = 20) = 0.80, p = 0.371), at the significance level of p ≤ 0.05. Contrastingly, there are association and significant relationship between tempo (fast and slow), and ‘happy’, as well as ‘sad’ perceptions (x2 (1, N = 20) = 9.899, p = 0.005). Therefore, it is concluded that tempo plays an important role in effects of major and minor mode to ‘happy’ and ‘sad’ emotional perceptions in piano music among subjects aged 9 to 17 in this study.

Keywords: effects, emotional perceptions, major and minor modes, piano music

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Authors: Vibha Kriti

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Background: Polycystic ovary syndrome (PCOS) is a common endocrine disorder generally found in reproductive women. It is associated with significant reproductive, metabolic, cosmetic, and psychological consequences. Objective: There is a high prevalence of PCOS found among reproductive-age women, therefore, the major objective of the present study is to identify the illness perception of PCOS women and to explore the relationship between illness perception and health-related quality of life (HRQoL). Material and Method: A cross-sectional study was conducted in a university tertiary-care center, Sir Sunder Lal Hospital, Banaras Hindu University (B.H.U). Tools used for data collection were self-structured, which included socio-demographic status, illness perception questionnaire (revised version), and short-form 36 for assessing illness perception and health-related quality of life, respectively. Statistical analysis was done by SPSS version ‘24’. Results: The results of correlation analyses indicated that there is a strong relationship between strong illness perception and HRQoL. Stepwise regression indicated that illness identity, long illness duration, and severe consequences were associated with the worse outcome on emotional functioning and on social functioning. A high score on the controllability of the disease and seeking social support was significantly related to better functioning. Conclusion: Illness perception is an important factor in self-care behaviors in PCOS females and has a strong association with health-related quality of life and has a profound effect on it.

Keywords: polycystic ovary syndrome, illness perception, quality of life, young females, mental health

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Authors: Zolani Metu

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The death of more than 140 psychiatric patients who were unethically deinstitutionalized from the Life Esidimeni hospital Johannesburg, in 2016, shined a light on South Africa’s failing public mental healthcare system. Compounded by insufficient research evidence on African deinstitutionalization, this necessitates inquiries into deinstitutionalized mental healthcare, reintegration and community-based mental healthcare within the South African context. This study employed a quantitative research approach which utilized a cross-sectional research design, to investigate experiences with the reintegration of institutionalized forensic mental health service users into communities in the Western Cape, South Africa. A convenience sample of 100 mental health care workers from different occupational and organizational backgrounds in the Western Cape was purposively selected using the Western Cape Health Directorate as a sampling frame. A self-administered questionnaire (SAQ) was used as the data collection instrument. The results of the study indicate that criminogenic factors such as substance use, history of violent behaviour, criminal history and disruptive social behaviour complicate the reintegration of forensic mental health service users into communities. The current extent of reintegration of forensic mental health service users was found to be 'poor' (46%; n= 46); and financial difficulties, criminogenic factors and limited Community-Based Care (CBC) facilities were identified as key barriers to the reintegration process. 56% of all job applications for forensic mental health service users were unsuccessful, and 53% of all applications for their admission into CBC facilities were declined. Although social support (informal) was found to be essential for successful reintegration, institutional support (formal) through assertive community treatment (35%; n= 35) and CBC facilities (21%) and the disability grant (DG=50%) was found to be more important for family coping and reintegration. Moreover, 72% of respondents had positive perceptions about the process of reintegration; no statistically significant relationship was found between years of experience and perceptions about reintegration (P-value = 0.062); and perceptions were not found to be a barrier to reintegration. No statistically significant relationship was found between years of working experience and understanding the legislative framework of deinstitutionalization (P-Value =.0.061). However, using a Chi-square test, a significant relationship (P-value = 0.021) was found between sex and understanding the legal framework involved in the process of reintegration. The study recommends a post-2020 deinstitutionalization agenda that factors-in criminogenic realities associated with forensic mental health service users, and affirms the strengthening of PHC and community based care systems as precedents of successful deinstitutionalization and reintegration of mental health service users.

Keywords: forensic mental health, deinstitutionalization, reintegration, mental health service users

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Authors: Magdalena Jablonska, Andrzej Falkowski

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The negativity effect is one of the most intriguing and well-studied psychological phenomena that can be observed in many areas of human life. The aim of the following study is to investigate how valence framing and positive and negative information about political candidates affect judgments about similarity to an ideal and bad politician. Based on the theoretical framework of features of similarity, it is hypothesized that negative features have a stronger effect on similarity judgments than positive features of comparable value. Furthermore, the mediating role of affect is tested. Method: One hundred sixty-one people took part in an experimental study. Participants were divided into 6 research conditions that differed in the reference point (positive vs negative framing) and the number of favourable and unfavourable information items about political candidates (a positive, neutral and negative candidate profile). In positive framing condition, the concept of an ideal politician was primed; in the negative condition, participants were to think about a bad politician. The effect of independent variables on similarity judgments, affective evaluation, and voting intention was tested. Results: In the positive condition, the analysis showed that the negative effect of additional unfavourable features was greater than the positive effect of additional favourable features in judgements about similarity to the ideal candidate. In negative framing condition, ANOVA was insignificant, showing that neither the addition of positive features nor additional negative information had a significant impact on the similarity to a bad political candidate. To explain this asymmetry, two mediational analyses were conducted that tested the mediating role of affect in the relationship between similarity judgments and voting intention. In both situations the mediating effect was significant, but the comparison of two models showed that the mediation was stronger for a negative framing. Discussion: The research supports the negativity effect and attempts to explain the psychological mechanism behind the positive-negative asymmetry. The results of mediation analyses point to a stronger mediating role of affect in the relationship between cognitive evaluation and voting intention. Such a result suggests that negative comparisons, leading to the activation of negative features, give rise to stronger emotions than positive features of comparable strength. The findings are in line with positive-negative asymmetry, however, by adopting Tversky’s framework of features of similarity, the study integrates the cognitive mechanism of the negativity effect delineated in the contrast model of similarity with its emotional component resulting from the asymmetrical effect of positive and negative emotions on decision-making.

Keywords: affect, framing, negativity effect, positive-negative asymmetry, similarity judgements

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Authors: Yongxin Chen, Min Zhang

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As industrial enterprises are the primary source of national pollution, environmental information disclosure is a crucial way to demonstrate to stakeholders the work they have done in fulfilling their environmental responsibilities and accepting social supervision. In the era of the digital economy, many companies, actively embracing the opportunities that come with digital transformation, have begun to apply digital technology to information collection and disclosure within the enterprise. However, less is known about the relationship between digital transformation and environmental disclosure. This study investigates how enterprise digital transformation affects environmental disclosure in 643 Chinese industrial companies, according to information processing theory. What is intriguing is that the depth (size) and breadth (diversity) of environmental disclosure linearly increase with the rise in the collection, processing, and analytical capabilities in the digital transformation process. However, the volume of data will grow exponentially, leading to a marginal increase in the economic and environmental costs of utilizing, storing, and managing data. In our empirical findings, linearly increasing benefits and marginal costs create a unique inverted U-shaped relationship between the degree of digital transformation and environmental disclosure in the Chinese industrial sector. Besides, based on the upper echelons theory, we also propose that the top management team with high stability and managerial capabilities will invest more effort and expense into improving environmental disclosure quality, lowering the carbon footprint caused by digital technology, maintaining data security etc. In both these contexts, the increasing marginal cost curves would become steeper, weakening the inverted U-shaped slope between DT and ED.

Keywords: digital transformation, environmental disclosure, the top management team, information processing theory, upper echelon theory

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Authors: Ado Ismail Sabo

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Statement of the Problem: The global trend in tertiary education institutions today is changing and moving towards engagement, promotion and marketing. The reason is to upscale reputation and impact positioning. More prominently, existing rivalry today seeks to draw-in the best and brightest students. A university or college is no longer just an institution of higher learning, but one adapting additional business nomenclature. Therefore, huge financial resources are invested by educational institutions to polish their image and improve their global and national ranking. In Nigeria, which boasts of a vast population of over 180 million people, some of whose patronage can bolster its education sector; standard of education continues to decline. Today, some Nigerian tertiary education institutions are shadows of their pasts, in terms of academic excellence. Quality has been relinquished because of the unquenchable quest by government officials, some civil servants, school heads and educators to amass wealth. It is very difficult to gain student satisfaction and their loyalty. Some of the student’s loyalties factor towards public higher educational institutions might be confusing. It is difficult to understand the extent to which students are satisfy on many needs. Some students might feel satisfy with the academic lecturers only, whereas others may want everything, and others will never satisfy. Due to these problems, this research aims to uncover the crucial factors influencing student loyalty and to examine if students’ satisfaction might impact mediate the relationship between service quality, organisational image and students’ loyalty towards public higher education institutions in Kano State, Nigeria. The significance of the current study is underscored by the paucity of similar research in the subject area and public tertiary education in a developing country like Nigeria as shown in existing literature. Methodology: The current study was undertaken by quantitative research methodology. Sample of 600 valid responses were obtained within the study population comprising six selected public higher education institutions in Kano State, Nigeria. These include: North West University Kano, Bayero University Kano, School of Management Studies Kano, School of Technology Kano, Sa’adatu Rimi College Kano and Federal College of Education (FCE) Kano. Four main hypotheses were formulated and tested using structural equation modeling techniques with Analysis of Moment Structure (AMOS Version 22.0). Results: Analysis of the data provided support for the main issue of this study, and the following findings are established: “Student Satisfaction mediates the relationship between Service Quality and Student Loyalty”, “Student Satisfaction mediates the relationship between Organizational Image and Student Loyalty” respectively. The findings of this study contributed to the theoretical implication which proposed a structural model that examined the relationships among overall Organizational image, service quality, student satisfaction and student loyalty. Conclusion: In addition, the findings offered a better insight to the managerial (higher institution of learning service providers) by focusing on portraying the image of service quality with student satisfaction in improving the quality of student loyalty.

Keywords: student loyalty, service quality, student satisfaction, organizational image

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Authors: E. Er, Y. S. Cheng

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The role of parents and caregivers in their children’s education is pivotal. Parental involvement (PI) is often associated with a range of student outcomes. This includes academic achievements, socioemotional development, adaptive skills, physical fitness and school attendance. This study is the first in Singapore to (1) explore the relationship between parental involvement and student outcomes; (2) determine the effects of family structure and socioeconomic status (SES) on parental involvement and (3) investigate factors that inform involvement in parents of children with specific developmental disabilities. Approval for the study was obtained from Nanyang Technological University’s Institutional Review Board in Singapore. The revised version of a comprehensive theoretical model on parental involvement was used as the theoretical framework in this study. Parents were recruited from a SPED school in Singapore which caters to school-aged children (7 to 21 years old). Pearson’s product moment correlation, analysis of variance and multiple regression analyses were used as statistical techniques in this study. Results indicate that there are significant associations between parental involvement and educational outcomes in students with developmental disabilities. Next, SES has a significant impact on levels of parental involvement. In addition, parents in the current study reported being more involved at home, in school activities and the community, when teachers specifically requested their involvement. Home-based involvement was also predicted by parents’ perceptions of their time and energy, efficacy and beliefs in supporting their child’s education, as well as their children’s invitations to be more involved. An interesting and counterintuitive inverse relationship was found between general school invitations and parental involvement at home. Research findings are further discussed, and suggestions are put forth to increase involvement for this specific group of parents.

Keywords: autism, developmental disabilities, intellectual disabilities, parental involvement, Singapore

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Authors: Núria Arimany Serrat, Xavier Ferràs Hernández, Petra A. Nylund, Eric Viardot

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Innovation is an increasingly important antecedent to firm competitiveness and growth. Successful innovation, however, requires a significant financial commitment and the means of financing accessible to the firm may affect its ability to innovate. The access to equity financing such as venture capital has been connected to innovativeness for young firms. For established enterprises, debt financing of innovation may be a more realistic option. Continuous innovation and growth would otherwise require a constant increase of equity. We, therefore, investigate the relation between debt financing and innovation for large firms and hypothesize that those firms that carry more debt will be more innovative. The need for debt financing of innovation may be reduced for very profitable firms, which can finance innovation with cash flow. We thus hypothesize a moderating effect of profitability on the relationship between debt financing and innovation. We carry out an empirical investigation using a longitudinal data set including 167 large European firms over five years, resulting in 835 firm years. We apply generalized least squares (GLS) regression with fixed firm effects to control for firm heterogeneity. The findings support our hypotheses and we conclude that access to debt finding is an important antecedent of innovation, with profitability as a moderating factor. The results do however differ across national innovation systems and we find a strong relationship for British, Dutch, French, and Italian firms but not for German and Spanish entities. We discuss differences in the national systems of innovation and financing which contextualize the variations in the findings and thus make a nuanced contribution to the research in innovation financing. The cross-country differences calls for differentiated advice to managers, institutions, and researchers depending on the national context.

Keywords: innovation, R&D, national innovation systems, financing

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Authors: Saveria Capecchi

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The aim of the quali-quantitative research conducted in the spring of 2021 (still in the midst of the Covid-19 emergency) was to analyze the relationship between the imaginary of 142 girls aged 10-12 from two Italian cities in the Emilia-Romagna region (the capital, Bologna, and Parma) and the influence that various socialization agents can have on it, with particular attention to social media. In order to investigate the relationship between imagination and media, two tools were used: first, the girls wrote an essay in class about their future lives, imagining waking up one morning as a thirty-year-old adults. Six types of "dreams" reflecting the values and lifestyles characteristic of contemporary Italian society emerged. Additionally, the girls completed a questionnaire on their leisure time and, in particular, media consumption aimed at identifying their favorite characters. The results provided insights into understanding the reference values and lifestyles that define their subculture (they belong to the so-called Generation Z). Another interesting aspect of this research is the possibility of comparing the results with those of a similar study on preadolescent imaginary conducted in 1995, involving 292 girls from Milan and Bologna, belonging to the Millennial generation. The narratives about the imagined adult life reflect some crucial changes undergone by Italian society in a quarter of a century: there are advancements towards gender equality, and the imagined family is increasingly detached from tradition. There is a more persistent dream of a life marked by beauty, wealth, and fame, while at the same time, there is a greater social commitment, from solidarity with marginalized people to environmentalism. Furthermore, the mentioned new digital and robotic professions will project us into the near future.

Keywords: gender equality, gender stereotypes, imaginary, preadolescents, social media

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Authors: Septiany Trisnaningtyas

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Purpose: This research aims to examine the factors affecting the profitability of pharmaceutical company during the Covid-19 Pandemic in Indonesia. A sharp decline in the number of patients coming to the hospital for treatment during the pandemic has an impact on the growth of the pharmaceutical sector and brought major changes in financial position and business performance. Pharmaceutical companies that provide products related to the Covid-19 pandemic can survive and continue to grow. This study investigates the factors affecting the profitability of pharmaceutical company during the Covid-19 Pandemic in Indonesia associated with the number of Covid-19 cases. Design/methodology/approach: This study uses panel-data regression models to evaluate the influence of the number of Covid-19 confirmed cases on profitability of ninelisted pharmaceuticalcompanies in Indonesia. This research is based on four independent variables that were empirically examined for their relationship with profitability. These variables are liquidity (current ratio), growth rate (sales growth), firm size (total sales), and market power (the Lerner index). Covid-19 case is used as moderating variable. Data of nine pharmaceutical companies listed on the Indonesia Stock Exchange covering the period of 2018–2021 were extracted from companies’ quarterly annual reports. Findings: In the period during Covid-19, company growth (sales growth) and market power (lerner index) have a positive and significant relationship to ROA and ROE. Total of confirmed Covid-19 cases has a positive and significant relationship to ROA and is proven to have a moderating effect between company’s growth (sales growth) to ROA and ROE and market power (Lerner index) to ROA. Research limitations/implications: Due to data availability, this study only includes data from nine listed pharmaceutical companies in Indonesian Stock exchange and quarterly annual reportscovering the period of 2018-2021. Originality/value: This study focuses onpharmaceutical companies in Indonesia during Covid-19 pandemic. Previous study analyzes the data from pharmaceutical companies’ annual reports since 2014 and focus on universal health coverage (national health insurance) implementation from the Indonesian government. This study analyzes the data using fixed effect panel-data regression models to evaluate the influence of Covid-19 confirmed cases on profitability. Pooled ordinary least squares regression and fixed effects were used to analyze the data in previous study. This study also investigate the moderating effect of Covid-19 confirmed cases to profitability in relevant with the pandemic situation.

Keywords: profitability, indonesia, pharmaceutical, Covid-19

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Authors: Varangkana Thaotumpitak, Jarukorn Sripradite, Saharuetai Jeamsripong

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Environmental contamination from wastewater discharges originated from anthropogenic activities introduces the accumulation of enteropathogenic bacteria in aquatic animals, especially in oysters, and in shellfish harvesting areas. The consumption of raw or partially cooked oysters can be a risk for seafood-borne diseases in human. This study aimed to evaluate the relationship between the presence of Salmonella in oyster meat samples, and environmental factors (ambient air temperature, relative humidity, gust wind speed, average wind speed, tidal condition, precipitation and season) by using the principal component analysis (PCA). One hundred and forty-four oyster meat samples were collected from four oyster harvesting areas in Phang Nga province, Thailand from March 2016 to February 2017. The prevalence of Salmonella of each site was ranged from 25.0-36.11% in oyster meat. The results of PCA showed that ambient air temperature, relative humidity, and precipitation were main factors correlated with Salmonella detection in these oysters. Positive relationship was observed between positive Salmonella in the oysters and relative humidity (PC1=0.413) and precipitation (PC1=0.607), while the negative association was found between ambient air temperature (PC1=0.338) and the presence of Salmonella in oyster samples. These results suggested that lower temperature and higher precipitation and higher relative humidity will possibly effect on Salmonella contamination of oyster meat. During the high risk period, harvesting of oysters should be prohibited to reduce pathogenic bacteria contamination and to minimize a hazard of humans from Salmonellosis.

Keywords: oyster, Phang Nga Bay, principal component analysis, Salmonella

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Authors: Roberta Martino, Viviana Ventre

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From a theoretical point of view, the relationship between the risk associated with an investment and the expected value are directly proportional, in the sense that the market allows a greater result to those who are willing to take a greater risk. However, empirical evidence proves that this relationship is distorted in the minds of investors and is perceived exactly the opposite. To deepen and understand the discrepancy between the actual actions of the investor and the theoretical predictions, this paper analyzes the essential parameters used for the valuation of financial assets with greater attention to two elements: probability and the passage of time. Although these may seem at first glance to be two distinct elements, they are closely related. In particular, the error in the theoretical description of the relationship between risk and return lies in the failure to consider the impatience that is generated in the decision-maker when events that have not yet happened occur in the decision-making context. In this context, probability loses its objective meaning and in relation to the psychological aspects of the investor, it can only be understood as the degree of confidence that the investor has in the occurrence or non-occurrence of an event. Moreover, the concept of objective probability does not consider the inter-temporality that characterizes financial activities and does not consider the condition of limited cognitive capacity of the decision maker. Cognitive psychology has made it possible to understand that the mind acts with a compromise between quality and effort when faced with very complex choices. To evaluate an event that has not yet happened, it is necessary to imagine that it happens in your head. This projection into the future requires a cognitive effort and is what differentiates choices under conditions of risk and choices under conditions of uncertainty. In fact, since the receipt of the outcome in choices under risk conditions is imminent, the mechanism of self-projection into the future is not necessary to imagine the consequence of the choice and the decision makers dwell on the objective analysis of possibilities. Financial activities, on the other hand, develop over time and the objective probability is too static to consider the anticipatory emotions that the self-projection mechanism generates in the investor. Assuming that uncertainty is inherent in valuations of events that have not yet occurred, the focus must shift from risk management to uncertainty management. Only in this way the intertemporal dimension of the decision-making environment and the haste generated by the financial market can be cautioned and considered. The work considers an extension of the prospectus theory with the temporal component with the aim of providing a description of the attitude towards risk with respect to the passage of time.

Keywords: impatience, risk aversion, subjective probability, uncertainty

Procedia PDF Downloads 107