Search results for: purchase
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 388

Search results for: purchase

118 The Effect of Brand Recovery Communications on Embarrassed Consumers’ Cognitive Appraisal and Post-purchase Behavior

Authors: Kin Yan Ho

Abstract:

Negative brand news (such as Volkswagen’s faulty carbon emission reports, China’s Luckin Coffee scandal, and bribery in reputable US universities) influence how people perceive a company. Germany’s citizens claimed Volkswagen’s scandal as a national embarrassment and cannot recover their psychological damages through monetary and non-monetary compensation. The main research question is to examine how consumers evaluate and respond to embarrassing brand publicity. The cognitive appraisal theory is used as a theoretical foundation. This study describes the use of scenario-based experiment. The findings suggest that consumers with different levels of embarrassment evaluate brand remedial offers from emotion-focused and task-focused restorative justice perspectives (newly derived from the well-established scales of perceived justice). When consumers face both negative and positive brand information (i.e., negative publicity news and a remedial offer), they change their appraisal criterion. The social situation in the cognitive reappraisal process influences the quality of the customer-brand relationship and the customer’s recovery from brand embarrassment. The results also depict that the components of recovery compensation cause differences in emotion recovery, relationship quality, and repurchase intentions. This study extends embarrassment literature in an embarrassing brand publicity context. The emotional components of brand remedial tactics provide insights to brand managers on how to handle different consumers’ emotions, consumer satisfaction, and foster positive future behavior.

Keywords: brand relationship quality, cognitive appraisal, crisis communications, emotion, justice, social presence

Procedia PDF Downloads 126
117 Consumer Behavior in Buying Organic Product: A Case Study of Consumer in the Bangkok Metropolits and Vicinity

Authors: Piluntana Panpluem, Monticha Putsakum

Abstract:

The objectives of this study were to investigate 1) consumers’ behaviors in buying organic products; and 2) the relationships between personal factors, cultural factors, social factors, psychological factors and marketing mix factors, and the behavior in buying organic products of consumers in the greater Bangkok metropolitan area. The sample group was 400 consumers at the age of 15 and older, who bought organic agricultural products from green markets and green shops in Bangkok, including its suburbs. The data were collected by using a questionnaire, which were analyzed by descriptive statistics and chi-square test. The results showed that the consumers bought 3 – 4 types of fresh vegetables with a total expenditure of less than 499 Baht each time. They purchased organic products mainly at a supermarket, 2 – 4 times per month, most frequently on Sundays, which took less than 30 minutes of shopping each time. The purpose of the purchase was for self-consuming. Gaining or retaining good health was the reason for the consumption of the products. Additionally, the first considered factor in the organic product selection was the quality. The decisions in purchasing the products were made directly by consumers, who were influenced mainly by advertising media on television. For the relationships among personal, cultural, social, psychological and marketing mix factors, and consumers’ behavior in buying organic products, the results showed the following: 1) personal factors, which were gender, age and educational level, were related to the behavior in terms of “What”, “Why”, and “Where” the consumers bought organic products (p<0.05); 2) cultural factors were related to “Why” the consumers bought organic products (p<0.05); 3) social factors were related to “Where” and “How” the consumers bought organic products (p<0.05); 4) psychological factors were related to “When” the consumers bought organic products (p<0.05). 5) For the marketing mix factors, “Product” was related to “Who participated” in buying, “What” and “Where” the consumers bought organic products (p<0.05), while “Price” was related to “What” and “When” the consumers bought organic products (p<0.05). “Place” was related to “What” and “How” the consumers bought organic products (p<0.05). Furthermore, “Promotion” was related to “What” and “Where” the consumers bought organic products (p<0.05).

Keywords: consumer behavior, organic products, Bangkok Metropolis and Vicinity

Procedia PDF Downloads 282
116 Surgical Management of Distal Femur Fracture Using Locking Compression Plate: Our Experience in a Rural Tertiary Care Centre in India

Authors: Pagadaplly Girish, P. V. Manohar

Abstract:

Introduction: Management of distal femur fractures is challenging. Recently, treatment has evolved towards indirect reduction and minimally invasive techniques. Objectives: To assess the fracture union and functional outcome following open reduction and internal fixation of distal femur fractures with locking compression plate and to achieve restoration of the anatomical alignment of fracture fragments and stable internal fixation. Methodology: Patients with distal femur fracture treated by locking compression during Oct 2011 to April 2013 were assessed prospectively. Patients below 18 years and those with neuro-vascular deficits were excluded. Age, sex of the patient, type of fracture, mechanism of injury, type of implant used, operative time and postoperative complications were analysed. The Neer’s scale was used to assess the outcome of the patients. Results: The total number of patients was 30; 28 males and 2 females; mean age was 41.53 years. Road traffic accidents were the major causes of injury followed by falls. The average duration of hospital stay was 21.3 days. The overall complication rate note was 23.33%. The mean range of movement around the knee joint after 6 months of follow-up was 114.330. The average time for the radiological union was 14 weeks. Excellent to good results were noted in 26 patients (86.6%) and average to poor results were observed in 4 (13.33%) patients. Conclusions: The locking compression plate gives a rigid fixation for the fracture. It also provides a good purchase in osteoporotic bones. LCP is simple and a reliable implant appropriate for fixation of femoral fractures with promising results.

Keywords: distal femur fractures, locking compression plate, Neer’s criteria, neuro-vascular deficits

Procedia PDF Downloads 244
115 Commercial Law Between Custom and Islamic Law

Authors: Mohamed Zakareia Ghazy Aly Belal

Abstract:

Commercial law is the set of legal rules that apply to business and regulates the trade of trade. The meaning of this is that the commercial law regulates certain relations only that arises as a result of carrying out certain businesses. which are business, as it regulates the activity of a specific sect, the sect of merchants, and the commercial law as other branches of the law has characteristics that distinguish it from other laws and various, and various sources from which its basis is derived from It is the objective or material source. the historical source, the official source and the interpretative source, and we are limited to official sources and explanatory sources. so what do you see what these sources are, and what is their degree and strength in taking it in commercial disputes. The first topic / characteristics of commercial law. Commercial law has become necessary for the world of trade and economics, which cannot be dispensed with, given the reasons that have been set as legal rules for commercial field. In fact, it is sufficient to refer to the stability and stability of the environment, and in exchange for the movement and the speed in which the commercial environment is in addition to confidence and credit. the characteristic of speed and the characteristic of trust, and credit are the ones that justify the existence of commercial law. Business is fast, while civil business is slow, stable and stability. The person concludes civil transactions in his life only a little. And before doing any civil action. he must have a period of thinking and scrutiny, and the investigation is the person who wants the husband, he must have a period of thinking and scrutiny. as if the person who wants to acquire a house to live with with his family, he must search and investigate Discuss the price before the conclusion of a purchase contract. In the commercial field, transactions take place very quickly because the time factor has an important role in concluding deals and achieving profits. This is because the merchant in contracting about a specific deal would cause a loss to the merchant due to the linkage of the commercial law with the fluctuations of the economy and the market. The merchant may also conclude more than one deal in one and short time. And that is due to the absence of commercial law from the formalities and procedures that hinder commercial transactions.

Keywords: law, commercial law, business, commercial field

Procedia PDF Downloads 67
114 E-Book Market In Vietnam: Great Potential, Many Barriers

Authors: Zakir Hossain

Abstract:

Nowadays reading e-books on laptops, smartphones, and tablets have become a new leisure activity for Vietnamese youth. Since 2011 the copyrighted e-book market began to develop in Vietnam with the participation of five local enterprises. Over the last five years, thousands of e-books were published including the first online early education book series for children from 0 to 6 years old. Research shows that 61% Vietnamese find reading e-books is comfortable, and 45% feel convenient buying books online. More than half of the Vietnamese consider reading online far better than buying printed books, and surprisingly people over age 30 desire reading online while those under 18 prefer reading printed books. Hence with a market of more than 40 million regular internet users including 22 million smartphone users, Vietnam has ample opportunities to develop the e-book market and contribute a great deal to the diversity of the local reading culture which is essential for Building a Lifelong Learning Society, a state ambition of Vietnam by 2020. However, the e-book market in Vietnam is still in its infancy and is growing far too slowly than e-book producers had expected. All five e-book enterprises are facing numerous challenges. While the big profit that e-book technology can bring has been clearly recognised in other countries, e-books in Vietnam only make up less than 1% share of the book market. The objective of the study is to identify the difficulties and barriers to the development of the e-book market in Vietnam through an extensive literature review available in English. The study revealed that illegal e-books due to copyright infringement and an inconvenient payment system to purchase e-books are the major obstacles. The great potential of e-books in Vietnam is a reality but requires government enforcement of copyright protection laws, a new area of focus for the e-book market. Furthermore, Vietnamese readers should change their habits from using free and illegal e-books to develop the e-publishing industry in Vietnam.

Keywords: copyright, e-book, e-book reading, e-publishing, Vietnam

Procedia PDF Downloads 223
113 Socioeconomic Impact of Marine Invertebrates Collection on Chuiba and Maringanha Beaches

Authors: Siran Offman, Hermes Pacule, Teofilo Nhamuhuco

Abstract:

Marine invertebrates are very important for the livelihood of coastal communities, particularly in Pemba City. The study was conducted From June 2011 to March 2012. The aim of this study is to determine the socioeconomic impact of collecting marine invertebrates in communities and Chuiba Maringanha. Data were collected biweekly during the spring tide ebb in the intertidal zone, and through structured surveys, the confrontation of data was done through direct observation in the neighborhoods. In total 40 collectors was surveyed and it was found that activity of collecting marine invertebrates is practiced by women 57.2% and men 42.5%. Their ages ranged from 9 to 45 years, and the range was 25-32 dominant with 30.5% and collection practice 5-7 times per week they spend about 4-6 hours a day. The collection methods are direct harvesting by hand aided by knives, sharp irons, and transport use pots, buckets, basins, shawls. Were identified in total 8 marketable species namely: Octopus vulgaris 8.6 Kg, Cyprea Tigers 7 units, Cypraea annulus 48 kg, 40 kg holuturias, Cyprea bully, Atrina vexilium 10 kg, Modiulus philiphinarum and lambis lambis. The species with the greatest economic value are sea cucumber (3 Usd/ kg) and Octopus vulgaris ( 2.5 Usd/ kg) more commercialized. The socio-economic impacts on communities of collectors the average income of collectors varies from 0.5 to 5 Usd/ day and the money are intended to purchase food and agricultural instruments. The other socioeconomics impacts are illiteracy with 36% dropout, and 28% have never studied 87% of unemployed collectors, a high number of family members, weak economic power, poor housing made the basis of local materials and relies on community wells to access water, and most do not have electric power.

Keywords: socio-economic, impacts, collecting marine invertebrates, communities

Procedia PDF Downloads 310
112 Economical Transformer Selection Implementing Service Lifetime Cost

Authors: Bonginkosi A. Thango, Jacobus A. Jordaan, Agha F. Nnachi

Abstract:

In this day and age, there is a proliferate concern from all governments across the globe to barricade the environment from greenhouse gases, which absorb infrared radiation. As a result, solar photovoltaic (PV) electricity has been an expeditiously growing renewable energy source and will eventually undertake a prominent role in the global energy generation. The selection and purchasing of energy-efficient transformers that meet the operational requirements of the solar photovoltaic energy generation plants then become a part of the Independent Power Producers (IPP’s) investment plan of action. Taking these into account, this paper proposes a procedure that put into effect the intricate financial analysis necessitated to precisely evaluate the transformer service lifetime no-load and load loss factors. This procedure correctly set forth the transformer service lifetime loss factors as a result of a solar PV plant’s sporadic generation profile and related levelized costs of electricity into the computation of the transformer’s total ownership cost. The results are then critically compared with the conventional transformer total ownership cost unaccompanied by the emission costs, and demonstrate the significance of the sporadic energy generation nature of the solar PV plant on the total ownership cost. The findings indicate that the latter play a crucial role for developers and Independent Power Producers (IPP’s) in making the purchase decision during a tender bid where competing offers from different transformer manufactures are evaluated. Additionally, the susceptibility analysis of different factors engrossed in the transformer service lifetime cost is carried out; factors including the levelized cost of electricity, solar PV plant’s generation modes, and the loading profile are examined.

Keywords: solar photovoltaic plant, transformer, total ownership cost, loss factors

Procedia PDF Downloads 120
111 The Influence of Chinese Philosophic-Religious Traditions on Chinese Consumption Behaviour: Findings from the Taoist Case Study

Authors: Haiping Zhu

Abstract:

The purpose of this work-in-progress paper is to explore how the Chinese philosophic-religious tradition of Taoism impacts on the consumption behaviour of contemporary Chinese consumers. Although much cultural research has been conducted on Chinese consumption behaviours, most studies have approached the subject from Western perspectives. Examination of the limited literature indicates a gap in the knowledge of the relationship of traditional Chinese Taoism philosophy and Chinese consumption behaviour. To bridge this gap, this study examines Chinese consumption behaviour at a Taoist-related Chinese religious festival - the DuanWu festival - in order to seek some understanding of how the Taoism philosophic-religious tradition influences Chinese consumption behaviour from the point of view of the individuals involved. It focuses attention on their expression of Taoism cultural values, purchasing experience and subsequent consumption behaviours. This study undertook multiple methods for Taoist case study data collection: accompanied shopping with Taoists before DuanWu Festival; participant observations during DuanWu Festival; and in-depth interviews in order to explore Taoists consumption behaviours at the end of the Festival. Specifically, the finding from the Taoist case study corroborates and details the influence of the Taoism doctrine: man–nature orientation, Fenshui, ecological effect, and ecological knowledge, on their attitudes toward green purchasing behaviour. Findings from this Taoist case study - one of a series of three Chinese philosophic religious tradition case studies - contribute to the deeper understanding of contemporary Chinese consumers from a non-Western viewpoint and offer initial insights for global marketers to differentiate consumer needs and develop effective marketing strategies.

Keywords: consumer behaviour, culture values, green purchase behaviour, Taoism

Procedia PDF Downloads 250
110 Precious Gold and Diamond Accessories Versus False Fashion Diamond and Stained Accessories

Authors: Amira Yousef Mahrous Yousef

Abstract:

This paper includes fast fashion verses sustainable fashion or slow fashion Indian based consumers. The expression ‘Fast fashion’ is generally referred to low-cost clothing collections that considered first hand copy of luxury brands, sometime interchangeably used with ‘mass fashion’. Whereas slow fashion or limited fashion which are consider to be more organic or eco-friendly. "Sustainable fashion is ethical fashion and here the consumer is just not design conscious but also social-environment conscious". Paper will deal with desire of young Indian consumer towards such luxury brands present in India, and their understanding of sustainable fashion, how to maintain the equilibrium between never newer fashion, style, and fashion sustainability. The green fashion market is growing rapidly as eco-friendly consumers are willing to expand their organic lifestyle to include clothing. With an increasing share of fashion consumers globally, Indian consumers are observed to consider the social and environmental ethics while making purchasing decisions. While some research clearly identifies the efforts of responsible consumers towards green fashion, some argue that fashion-orientated consumers who are sensitive towards environment do not actively participate towards supporting green fashion. This study aims to analyze the current perception of green fashion among Indian consumers. A small-scale exploratory study is conducted where consumers’ perception of green fashion is examined followed by an analysis of translation of this perception into purchase decision making. This research paper gives insight into consumer awareness on green fashion and provides scope towards the expansion of ethical fashion consumption .

Keywords: inclusions, temperature gradient, HPHT synthetic fibers, polyamide fibers, fiber volume, compressive strength. gold nano clusters, copper ions, wool keratin, fluorescence

Procedia PDF Downloads 39
109 The Influence of Celebrity Endorsement on Consumers’ Attitude and Purchas Intention Towards Skincare Products in Malaysia

Authors: Tew Leh Ghee

Abstract:

The study's goal is to determine how celebrity endorsement affects Malaysian consumers' attitudes and intentions to buy skincare products. Since customers now largely rely on celebrity endorsement to influence purchasing decisions in almost every business, celebrity endorsement is not, in reality, a new phenomenon. Even though the market for skincare products has a vast potential to be exploited, corporations have yet to seize this niche via celebrity endorsement. Basically, there hasn't been much study done to recognize the significance of celebrity endorsement in this industry. This research combined descriptive and quantitative methods with a self-administered survey as the primary data-gathering tool. All of the characteristics under study were measured using a 5-point Likert scale, and the questionnaire was written in English. A convenience sample method was used to choose respondents, and 360 sets of valid questionnaires were gathered for the study's statistical analysis. Preliminary statistical analyses were analyzed using SPSS version 20.0 (Statistical Package for the Social Sciences). The backdrop of the respondents' demographics was examined using descriptive analysis. All concept assessments' validity and reliability were examined using exploratory factor analysis, item-total statistics, and reliability statistics. Pearson correlation and regression analysis were used, respectively, to assess relationships and impacts between the variables under study. The research showed that, apart from competence, celebrity endorsements of skincare products in Malaysia had a favorable impact on attitudes and purchase intentions as evaluated by attractiveness and dependability. The research indicated that the most significant element influencing attitude and buy intention was the credibility of a celebrity endorsement. The study offered implications in order to provide potential improvements of celebrity endorsement in skincare goods in Malaysia. The study's last portion includes its limits and ideas for the future.

Keywords: trustworthiness, influential, phenomenon, celebrity emdorsement

Procedia PDF Downloads 72
108 Commercial Law Between Custom and Islamic Law

Authors: Shimaa Abdel-Rahman Amin El-Badawy

Abstract:

Commercial law is the set of legal rules that apply to business and regulates the trade of trade. The meaning of this is that the commercial law regulates certain relations only that arises as a result of carrying out certain businesses. which are business, as it regulates the activity of a specific sect, the sect of merchants, and the commercial law as other branches of the law has characteristics that distinguish it from other laws and various, and various sources from which its basis is derived from It is the objective or material source. the historical source, the official source and the interpretative source, and we are limited to official sources and explanatory sources. so what do you see what these sources are, and what is their degree and strength in taking it in commercial disputes. The first topic / characteristics of commercial law. Commercial law has become necessary for the world of trade and economics, which cannot be dispensed with, given the reasons that have been set as legal rules for commercial field.In fact, it is sufficient to refer to the stability and stability of the environment, and in exchange for the movement and the speed in which the commercial environment is in addition to confidence and credit. the characteristic of speed and the characteristic of trust, and credit are the ones that justify the existence of commercial law.Business is fast, while civil business is slow, stable and stability. The person concludes civil transactions in his life only a little. And before doing any civil action. he must have a period of thinking and scrutiny, and the investigation is the person who wants the husband, he must have a period of thinking and scrutiny. as if the person who wants to acquire a house to live with with his family, he must search and investigate. Discuss the price before the conclusion of a purchase contract. In the commercial field, transactions take place very quickly because the time factor has an important role in concluding deals and achieving profits. This is because the merchant in contracting about a specific deal would cause a loss to the merchant due to the linkage of the commercial law with the fluctuations of the economy and the market. The merchant may also conclude more than one deal in one and short time. And that is due to the absence of commercial law from the formalities and procedures that hinder commercial transactions.

Keywords: law, commercial law, Islamic law, custom and Islamic law

Procedia PDF Downloads 63
107 Precious Gold and Diamond Accessories Versus False Fashion Diamond and Stained Accessories

Authors: Felib Ayman Shawky Salem

Abstract:

This paper includes fast fashion verses sustainable fashion or slow fashion Indian based consumers. The expression ‘Fast fashion’ is generally referred to low-cost clothing collections that considered first hand copy of luxury brands, sometime interchangeably used with ‘mass fashion’. Whereas slow fashion or limited fashion which are consider to be more organic or eco-friendly. "Sustainable fashion is ethical fashion and here the consumer is just not design conscious but also social-environment conscious". Paper will deal with desire of young Indian consumer towards such luxury brands present in India, and their understanding of sustainable fashion, how to maintain the equilibrium between never newer fashion, style, and fashion sustainability. The green fashion market is growing rapidly as eco-friendly consumers are willing to expand their organic lifestyle to include clothing. With an increasing share of fashion consumers globally, Indian consumers are observed to consider the social and environmental ethics while making purchasing decisions. While some research clearly identifies the efforts of responsible consumers towards green fashion, some argue that fashion-orientated consumers who are sensitive towards environment do not actively participate towards supporting green fashion. This study aims to analyze the current perception of green fashion among Indian consumers. A small-scale exploratory study is conducted where consumers’ perception of green fashion is examined followed by an analysis of translation of this perception into purchase decision making. This research paper gives insight into consumer awareness on green fashion and provides scope towards the expansion of ethical fashion consumption

Keywords: diamond, inclusions, temperature gradient, HPHT synthetic fibers, polyamide fibers, fiber volume, compressive strength. gold nano clusters, copper ions, wool keratin, fluorescence

Procedia PDF Downloads 24
106 Key Drivers Influencing the Shopping Behaviour of Customers in Retail Store

Authors: Aamir Hasan, Subhash Mishra

Abstract:

The purpose of the study was to determine the key drivers which influence the shopping behavior of the customers in the retail store. In today‟s competitive world with increasing number of retail stores, the retailers need to be more customer oriented. Retail has changed and expanded in all lines of business, be it apparel,jewelry, footwear, groceries etc. The modern consumer is posing a challenging task for the Indian retailer. More aware, more confident and much more demanding, therefore the retailers are looking for ways to deliver better consumer value and to increase consumer purchase intention. Retailers tend to differentiate themselves by making their service easier to consumers. The study aims to study the key drivers that can influence shopping behavior in retail store. A survey (store intercept) method was employed to elicit primary information from 300 shoppers in different retail stores of Lucknow. The findings reveal the factors that play a greater role in influencing the shopping behavior of customers in retail store. As such, a survey of retail store customers‟ attitude towards reduced price, sales promotion, quality of the products, proximity to the home, customer service, store atmospherics were analyzed to identify the key drivers influencing shopping behavior in retail store. A questionnaire based on a five-item Likert scale, as well as random sampling, was employed for data collection. Data analysis was accomplished using SPSS software. The paper has found shopping experience, store image and value for money as three important variable out of which shopping experience emerged as a dominant factor which influences the consumer's shopping behavior in the retail store. Since the research has established empirical evidences in determining the key drivers which influences the shopping behavior of the customers in the retail store, it serves as a foundation for a deeper probe into the shopping behavior of the customers in the retail store research domain in the Indian context.

Keywords: retail, shopping, customers, questionnaire

Procedia PDF Downloads 417
105 An Integrated Research of Airline Sponsorship

Authors: Stephen W. Wang

Abstract:

This research aims to explore the multi-faceted structure of airline passengers’ perception of airline sponsorship, and its impact on airline passengers and even consumers on airline brand preferences and brand equity. The connotation of this research is mainly divided into two parts. The first part of the research focuses on exploring the connotation and sub-dimensions of “air passengers’ perception of airline sponsorship”; the second part of the research focuses on integrating “air passengers’ perception on the multi-factor aspect of the corporate sponsorship, “brand transfer theory” and “brand theory”, explores the influence of airlines’ commitment to corporate sponsorship activities on the brand equity and brand preferences of airline passengers, and on passengers’ subsequent behavioral intentions . In addition, in order to clarify the differences between different types of corporate sponsorship activities and events in terms of "air passengers' perception of airline corporate sponsorship activities", brand transfer, brand preference, brand equity and behavioral intentions, this research also focuses on moderating effects of corporate sponsorship events. With the apply of multi-group structural equation model, it is hoped that the effectiveness of the sponsorship activities of airline companies will be improved. In terms of theoretical and practical implications, the aviation industry can follow the results of this research to understand which corporate sponsorship perceptions have a greater impact on consumers, which has important practical significance. The second part of the research project, from the consumer's point of view, understands whether airline corporate sponsorship activities influence behavioral intentions through brand transfer and brand recognition. Through the analysis of the intermediary effect of brand transfer, brand preference and brand equity, the results of this research can provide a more complete and powerful explanation for “why” airlines’ commitment to corporate sponsorship activities can affect airline passengers’ purchase intentions, which will help fill in the gap of the theoretical and practical research on "airline corporate sponsorship", and has its theoretical significance.

Keywords: airline, sponsorship, brand image transfer, brand preference

Procedia PDF Downloads 19
104 Effects of Non-Diagnostic Haptic Information on Consumers' Product Judgments and Decisions

Authors: Eun Young Park, Jongwon Park

Abstract:

A physical touch of a product can provide ample diagnostic information about the product attributes and quality. However, consumers’ product judgments and purchases can be erroneously influenced by non-diagnostic haptic information. For example, consumers’ evaluations of the coffee they drink could be affected by the heaviness of a cup that is used for just serving the coffee. This important issue has received little attention in prior research. The present research contributes to the literature by identifying when and how non-diagnostic haptic information can have an influence and why such influence occurs. Specifically, five studies experimentally varied the content of non-diagnostic haptic information, such as the weight of a cup (heavy vs. light) and the texture of a cup holder (smooth vs. rough), and then assessed the impact of the manipulation on product judgments and decisions. Results show that non-diagnostic haptic information has a biasing impact on consumer judgments. For example, the heavy (vs. light) cup increases consumers’ perception of the richness of coffee in it, and the rough (vs. smooth) texture of a cup holder increases the perception of the healthfulness of fruit juice in it, which in turn increases consumers’ purchase intentions of the product. When consumers are cognitively distracted during the touch experience, the impact of the content of haptic information is no longer evident, but the valence (positive vs. negative) of the haptic experience influences product judgments. However, consumers are able to avoid the impact of non-diagnostic haptic information, if and only if they are both knowledgeable about the product category and undistracted from processing the touch experience. In sum, the nature of the influence by non-diagnostic haptic information (i.e., assimilation effect vs. contrast effect vs. null effect) is determined by the content and valence of haptic information, the relative impact of which depends on whether consumers can identify the content and source of the haptic information. Theoretically, to our best knowledge, this research is the first to document the empirical evidence of the interplay between cognitive and affective processes that determines the impact of non-diagnostic haptic information. Managerial implications are discussed.

Keywords: consumer behavior, haptic information, product judgments, touch effect

Procedia PDF Downloads 166
103 Deriving an Index of Adoption Rate and Assessing Factors Affecting Adoption of an Agroforestry-Based Farming System in Dhanusha District, Nepal

Authors: Arun Dhakal, Geoff Cockfield, Tek Narayan Maraseni

Abstract:

This paper attempts to fulfil the gap in measuring adoption in agroforestry studies. It explains the derivation of an index of adoption rate in a Nepalese context and examines the factors affecting adoption of agroforestry-based land management practice (AFLMP) in the Dhanusha District of Nepal. Data about the different farm practices and the factors (bio-physical, socio-economic) influencing adoption were collected during focus group discussion and from the randomly selected households using a household survey questionnaire, respectively. A multivariate regression model was used to determine the factors. The factors (variables) found to significantly affect adoption of AFLMP were: farm size, availability of irrigation water, education of household heads, agricultural labour force, frequency of visits by extension workers, expenditure on farm inputs purchase, household’s experience in agroforestry, and distance from home to government forest. The regression model explained about 75% of variation in adoption decision. The model rejected ‘erosion hazard’, ‘flood hazard’ and ‘gender’ as determinants of adoption, which in case of single agroforestry practice were major variables and played positive role. Out of eight variables, farm size played the most powerful role in explaining the variation in adoption, followed by availability of irrigation water and education of household heads. The results of this study suggest that policies to promote the provision of irrigation water, extension services and motivation to obtaining higher education would probably provide the incentive to adopt agroforestry elsewhere in the terai of Nepal.

Keywords: agroforestry, adoption index, determinants of adoption, step-wise linear regression, Nepal

Procedia PDF Downloads 496
102 Neighbouring and Sense of Community in Participatory Social Housing Estates in Algeria

Authors: Farida Naceur

Abstract:

Algerian cities experienced after the independence of the country a rapid urbanisation process fostered by population growth. In order to deal with the severe housing shortage resulted, large social public housing programs totally financed by the government were launched across the country during the eighty. Unfortunately, the standardized multistory buildings produced underwent intense deterioration and turned very quickly after their occupancy into sources of nuisance and distress. The government adopted a new housing policy in 2000, which aims to diversify housing types according to household incomes and encourage access to housing property. The model of participatory social housing emerged; it was designed for the intermediate groups, allowing them to benefit from direct financial aid and to borrow credit from banks in order to purchase their dwellings. Twenty years afterward, no assessment to date has been established to evaluate the real impact of such a strategy. The aim of this paper is to examine whether this type of housing helped to stimulate a participative dynamism among its occupants to strengthen their commitment, their involvement in the maintenance and keeping of their surroundings. For the purpose of the study, we focus our attention on various participatory social housing settlements in Batna and Biskra, two medium-sized cities in eastern Algeria. The investigation is structured in various types of analysis: a spatial analysis, observations, interviews with public authorities representatives, chief planners, and experts. In addition to this, informal interviews with occupants of various participatory social housing settlements were arranged to collect qualitative data. Occupants were asked open questions focusing on their daily life and practices in order to examine their degree of involvement in their neighbourhood’s life.

Keywords: participatory social housing, rental social housing, involvement, maintenance, social interactions, community life

Procedia PDF Downloads 38
101 A Relationship Model That Illustrates the Effect of Humorous Packaging Designs on Brand Awareness and Brand Attitude

Authors: Shu-Yuan Lin, Tung-Chin Chou

Abstract:

As products become increasingly similar in competitive markets, achieving product segmentation and differentiation through packaging design has become the primary task when designing retail product packaging. When the main focus of brand marketing is no longer the product itself, emotional marketing, such as the use of humorous packaging designs, may be employed to successfully promote the brand. Such efforts will capture the hearts of consumers, generate discussions, and allow the brand to leave a deep impression in consumers. In this study, snack packaging was used to develop a relationship model that illustrated the effect of humorous packaging designs on brand awareness and brand attitude. The study was divided into three stages: In the first stage, in-depth interviews and focus group interviews were conducted with experts to construct 24 indicators for assessing humorous packaging designs. In the second stage, survey questionnaires were distributed to a young consumer group; the results showed that the group had a high and low product involvement with chocolate and dried shredded squid, respectively. Humorous packaging designs were subsequently created for two snack types to produce a study sample of 12 different packaging. In the third stage, packaging designs were evaluated by obtaining scores for the consumers’ brand awareness, brand attitude, and perceived effects of the packaging designs. Finally, a relationship model was developed to show the effect of humorous packaging designs on brand awareness and brand attitude, confirming that two perceived effects of humorous packaging designs (i.e., ‘pleasant and emotionally healing’ and ‘connected to people’s daily life’) exhibited a significant and positive effect on ‘perceived brand value,’ where the effect of ‘pleasant and emotionally healing’ was the most significant. In addition, ‘pleasant and emotionally healing’ exerted a significant and positive effect on ‘brand purchase intention.’ Furthermore, packaging designs with humorous elements helped foster brand awareness.

Keywords: brand awareness, brand attitude, humorous design, packaging design

Procedia PDF Downloads 221
100 A Mathematical Model to Select Shipbrokers

Authors: Y. Smirlis, G. Koronakos, S. Plitsos

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Shipbrokers assist the ship companies in chartering or selling and buying vessels, acting as intermediates between them and the market. They facilitate deals, providing their expertise, negotiating skills, and knowledge about ship market bargains. Their role is very important as it affects the profitability and market position of a shipping company. Due to their significant contribution, the shipping companies have to employ systematic procedures to evaluate the shipbrokers’ services in order to select the best and, consequently, to achieve the best deals. Towards this, in this paper, we consider shipbrokers as financial service providers, and we formulate the problem of evaluating and selecting shipbrokers’ services as a multi-criteria decision making (MCDM) procedure. The proposed methodology comprises a first normalization step to adjust different scales and orientations of the criteria and a second step that includes the mathematical model to evaluate the performance of the shipbrokers’ services involved in the assessment. The criteria along which the shipbrokers are assessed may refer to their size and reputation, the potential efficiency of the services, the terms and conditions imposed, the expenses (e.g., commission – brokerage), the expected time to accomplish a chartering or selling/buying task, etc. and according to our modelling approach these criteria may be assigned different importance. The mathematical programming model performs a comparative assessment and estimates for the shipbrokers involved in the evaluation, a relative score that ranks the shipbrokers in terms of their potential performance. To illustrate the proposed methodology, we present a case study in which a shipping company evaluates and selects the most suitable among a number of sale and purchase (S&P) brokers. Acknowledgment: This study is supported by the OptiShip project, implemented within the framework of the National Recovery Plan and Resilience “Greece 2.0” and funded by the European Union – NextGenerationEU programme.

Keywords: shipbrokers, multi-criteria decision making, mathematical programming, service-provider selection

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99 The Impact of Legislation on Waste and Losses in the Food Processing Sector in the UK/EU

Authors: David Lloyd, David Owen, Martin Jardine

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Introduction: European weight regulations with respect to food products require a full understanding of regulation guidelines to assure regulatory compliance. It is suggested that the complexity of regulation leads to practices which result to over filling of food packages by food processors. Purpose: To establish current practices by food processors and the financial, sustainable and societal impacts on the food supply chain of ineffective food production practices. Methods: An analysis of food packing controls with 10 companies of varying food categories and quantitative based research of a further 15 food processes on the confidence in weight control analysis of finished food packs within their organisation. Results: A process floor analysis of manufacturing operations focussing on 10 products found over fill of packages ranging from 4.8% to 20.2%. Standard deviation figures for all products showed a potential for reducing average weight of the pack whilst still retain the legal status of the product. In 20% of cases, an automatic weight analysis machine was in situ however weight packs were still significantly overweight. Collateral impacts noted included the effect of overfill on raw material purchase and added food miles often on a global basis with one raw material alone creating 10,000 extra food miles due to the poor weight control of the processing unit. A case study of a meat and bakery product will be discussed with the impact of poor controls resulting from complex legislation. The case studies will highlight extra energy costs in production and the impact of the extra weight on fuel usage. If successful a risk assessment model used primarily on food safety but adapted to identify waste /sustainability risks will be discussed within the presentation.

Keywords: legislation, overfill, profile, waste

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98 Application of Integrated Marketing Communications-Multiple, Case Studies

Authors: Yichen Lin, Hsiao-Han Chen, Chi-Chen Jan

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Since 1990, the research area of Integrated Marketing Communications (IMC) has been presented from a different perspective. With advances in information technology and the rise of consumer consciousness, businesses are in a competitive environment. There is an urgent need to adopt more profitable and effective integrated marketing strategies to increase core competitiveness. The goal of the company's sustainable management is to increase consumers' willingness to purchase and to maximize profits. This research uses six aspects of IMC, which includes awareness integration, unified image, database integration, customer-based integration, stakeholders-based integration, and evaluation integration to examine the role of marketing strategies in the strengths and weaknesses of the six components of integrated marketing communications, their effectiveness, the most important components and the most important components that need improvement. At the same time, social media such as FaceBook, Instagram, Youtube, Line, or even TikTok have become marketing tools which firms adopt them more and more frequently in the marketing strategy. In the end of 2019, the outbreak of COVID-19 did really affect the global industries. Lockdown policies also accelerated closure of brick-mentor stores worldwide. Online purchases rose dramatically. Hence, the effectiveness of online marketing will be essential to maintain the business. This study uses multiple-case studies to extend the effects of social media and IMC. Moreover, the study would also explore the differences of social media and IMC during COVID-19. Through literature review and multiple-case studies, it is found that using social media combined with IMC did really help companies expand their business and make good connections with stakeholders. One of previous studies also used system theory to explore the interrelationship among Integrated Marketing Communication, collaborative marketing, and global brand building. Even during pandemic, firms could still maintain the operation and connect with their customers more tightly.

Keywords: integration marketing communications, multiple-case studies, social media, system theory

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97 Sensory and Microbiological Sustainability of Smoked Meat Products–Smoked Ham in Order to Determine the Shelf-Life under the Changed Conditions at +15°C

Authors: Radovan Čobanović, Milica Rankov Šicar

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The meat is in the group of perishable food which can be spoiled very rapidly if stored at room temperature. Salting in combination with smoke is intended to extend shelf life, and also to form the specific taste, odor and color. The smoke do not affect only on taste and flavor of the product, it has a bactericidal and oxidative effect and that is the reason because smoked products are less susceptible to oxidation and decay processes. According to mentioned the goal of this study was to evaluate shelf life of smoked ham, which is stored in conditions of high temperature (+15 °C). For the purposes of this study analyzes were conducted on eight samples of smoked ham every 7th day from the day of reception until 21st day. During this period, smoked ham is subjected to sensory analysis (appearance, odor, taste, color, aroma) and bacteriological analyzes (Listeria monocytogenes, Salmonella spp. and yeasts and molds) according to Serbian state regulation. All analyses were tested according to ISO methodology: sensory analysis ISO 6658, Listeria monocytogenes ISO 11 290-1, Salmonella spp ISO 6579 and yeasts and molds ISO 21527-2. Results of sensory analysis of smoked ham indicating that the samples after the first seven days of storage showed visual changes at the surface in the form of allocations of salt, most likely due to the process of drying out the internal parts of the product. The sample, after fifteen days of storage had intensive exterior changes, but the taste was still acceptable. Between the fifteenth and twenty-first day of storage, there is an unacceptable change on the surface and inside of the product and the occurrence of molds and yeasts but neither one analyzed pathogen was found. Based on the obtained results it can be concluded that this type of product cannot be stored for more than seven days at an elevated temperature of +15°C because there are a visual changes that would certainly have influence on decision of customers when purchase of this product is concerned.

Keywords: sustainability, smoked meat products, food engineering, agricultural process engineering

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96 Corporate Social Responsibility as a Determinant of Sustainability of SME: A Study of House of Tara, a Small Business Operating in Nigeria

Authors: Bolanle Deborah Motilewa, E. K. Rowland Worlu, Gbenga Mayowa Agboola, Ayodele Maxwell Olokundun

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In the pursuit of profit maximization as a major objective of business organizations, several firms forfeit their social and economic responsibility whilst focusing on activities that are deemed to solely profit the firm, without taking into cognizance the effect of their operations on the society in which they operate. Business analysts have, however, realized the determinant role of social responsibility in corporate performance, such that firms that are able to imbibe corporate social responsibility in their core business operations may be able to take advantage of the social reputation gained across their several stakeholders. Small and medium enterprises operating in highly competitive markets are also advised to leverage on this reputation gained from being socially responsible, if they seek ways to remain relevant in the same markets dominated by multinational corporations. Adapting a case study approach, this study highlights the advantages (such as employee and customer loyalty) gained by House of Tara, a small business operating in the beauty and make-up industry in Nigeria, resulting from the firm’s commitment to advancing the society in which it operates through several social responsibility activities. It is observed that although competing with major makeup brands such as MAC, Maybelline, Dior, Mary Kay and others, House of Tara has been able to not only thrive, but gain a sizeable market in the Nigerian makeup industry, because several consumers purchase their products not solely because of the quality or price of their product, but because they perceive themselves as buying into the firm’s CSR vision. This study, therefore, recommends that small and medium enterprises that may lack adequate resources (manpower, technology, capital) needed to successfully compete with multinationals, can harness the potentials in the reputation and loyalty gained from adequate investment in corporate social responsibility.

Keywords: corporate social responsibility, small and medium enterprises, House of Tara, sustainability

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95 Effect of Good Agriculture Management Practices and Constraints on Grape Farming: A Case Study in Mirbachakot, Kalakan and Shakardara Districts Kabul, Afghanistan

Authors: Mohammad Mirwais Yusufi

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Skillful management is one of the most important success factors for today’s farms. When a farm is well managed, it can generate funds for its sustainability. Grape is one of the most diffused fruits in the world and one of the most important cash crops with high potential of production in Afghanistan as well. While there are several organizations intervening for improvement of this cash crop, the quality and quantity are still not satisfactory for producers and external markets. The situation has not changed over the years. Therefore, a survey was conducted in 2017 with 60 grape growers, supported by questionnaires in Mirbachakot, Kalakan and Shakardara districts of Kabul province. The purpose was to get an understanding of the current socio-demographic characteristics of farmers, management methods, constraints, farm size, yield and contribution of grape farming to household income. Findings indicate that grape farming was predominant 83.3% male, 16.6% female and small-scale farmers were the main grape producers, 60% < 1 ha of land under grape production. Likewise, 50% had more than > 10 years and 33.3% between 1-5 years’ experience in grape farming. The high level of illiteracy and diseases had significant digit effect on growth, yield and quality of grapes. The results showed that vineyard management operations to protect grapes from mechanical damage are very poor or completely absent. Comparing developed countries, table grape is one of the fruits with the highest input of technology, while in developing countries the cost of labor is low but the purchase of the equipment is very high due to financial situation. Hence the low quality and quantity of grape are influenced by poor management methods, such as non-availability of experts and lack of technical guidance in the study site. Thereby, the study suggested that improved agricultural extension services and managerial skills could contribute to addressing the problems.

Keywords: constraints, effect, management, Kabul

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94 (De)Criminalising Sex Toys in Thailand: A Law and Economics Approach

Authors: Piyanee Khumpao

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Under the Thai Penal Code and Customs Act, sex toys are criminalized and completely prohibited through the legal interpretation as obscene objects by law enforcement, despite there is no explicit legal sanction against them. The purpose of preventing people from accessing sex toys is to preserve public morals. However, sex toys are still available, exposed, and sold publicly in main cities throughout Thailand. They are easily observed by people of any age. This paper argues that sexuality is human nature and human right. Human deserves sexual pleasure as long as getting sexual pleasure does not inflict any harm on others. Using sex toys in private (individually and/or as a couple with mutual consent) does not constitute any harm nor degrade public moral. Therefore, the complete ban of sex toys shall be lifted and decriminalized. Nevertheless, the economic analysis illustrates that criminalization and prohibition of sex toys would lead to its black market – higher price and lower quantity. Although it is socially desirable to have fewer sex toys in the market, there will usually be high demand for them because sexual pleasure is natural and, hence, people have a lower price elasticity of demand for such things, including pornography. Thus, its deterrent effect is not very effective. Moreover, sex toys vendors still always exist because higher price incentivizes them to act illegally and may gain benefits from selling low-quality sex toys. Consequently, consumers do not have a choice to select high-quality sex toys at a reasonable price. Then, they are forced to purchase low quality sex toys at a higher price. They also may suffer from health issues as well as other harms from its dangerous/toxic substances since lower quality products are manufactured poorly to save costs. A law and economics approach supports the decriminalization of sex toys in Thailand. Other measures to control its availability shall be adopted to protect the vulnerable, such as children. Options are i) zoning or regulation on-premises selling sex toys as in Singapore, Japan, and China, ii) regulations of sex toys as medical apparatus like in the state of Alabama, and iii) the prevention of sex toys exposure in the real (physical) appearance (i.e., allowing virtual exposure of sex toys) like in India.

Keywords: human nature, law and economics approach, sex toys, sexual pleasure

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93 The Impact of the COVID-19 Pandemic on the Nursing Workforce in Slovakia

Authors: Lukas Kober, Vladimir Littva, Vladimir Siska

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The pandemic has had a significant impact on our lives. One of the most affected professions is the nursing profession. Nurses are closest to the patient, spend the most time with him, support him, often replace the closest family members, and of course, are part of the whole treatment process. Current nurses have more competencies and roles than in the past. The healthcare system has reached a turning point, also in connection with the spreading Delta variant and the risk of the arrival of the third wave. The lack of nurses is a long-term problem, but it did not arise by itself. The reasons for the departure of nurses from the health care system are not only due to the increasing average age of nurses and midwives in Slovakia and their retirement. Thousands of nurses are leaving due to poor working conditions, low wages, and poor management of individual workplaces. We need to keep older nurses in the health care system, otherwise, we risk their early departure. The pandemic only exacerbates this situation, and the associated risks, such as occupational infections or enormous overload and exhaustion, only accelerate the exit from the profession. According to current data from the register of nurses and midwives, we canceled 772 registrations from January to September 2021, and 584 nurses requested the suspension of registration due to non-performance of the profession. During the same period, we registered only 240 new nurses graduate. We have had this significant disparity here for a long time. For the whole of 2020, we canceled 911 registrations and suspended 973 registrations. We registered a total of 389 graduates. Our system loses hundreds of graduates a year and loses experienced nurses with decades of experience who leave due to poor working conditions, wages and suffer from burnout. Such compensation should also be awarded to the families of health professionals who have lost their lives due to work and to COVID-19. These options can also be motivating for promising people interested in studying nursing, who can gradually replace the missing workforce. This purchase is supported by the KEGA project no. 015KU-4/2019.

Keywords: pandemic, COVID-19, nursing, nursing workforce, lack of nurses

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92 Case Study on Socio-Economic Impacts of Sustainable Trophy Hunting Programme on Local Community of Sassi-Haramosh Conservancy, Gilgit District, Pakistan

Authors: Hassan Abbas, Rehmat Ali, Muhammad Akbar

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This study has been conducted in Sassi-Haramosh conservancy District Gilgit, Gilgit-Baltistan of Pakistan, under the Conservation Leadership Programme of Fauna and Flora International. The main objectives of the study were to assess the socio-economic impact of community-based conservation in Sassi-Haramosh conservancy and identify effects of trophy hunting on the conservation of wildlife in the area. The first trophy hunting program of Astor Markhor was held in year February 21, 2015, and the second on February 21, 2016. The community received a share of 49200 USD and 52400 USD from the first and second hunting, and the total earning was 101600 USD which are Rs. 10,871,200 in Pak Rs. The amounts from the trophy hunting are being managed by the Wildlife Conservation and Social Development Organization (WCSDO) Sassi. The village-based organization WCSDO is spending 50% of the trophy hunting amount in the protection of wildlife, its habitat and other natural resources, 30% in developmental sectors of the village and 20% of the amount in the office expenses. Several developmental projects, like construction of 300 KVA hydropower stations, purchase of 8 acres of land for agriculture, potable water supply project, construction of treks, and other social welfare activities have been carried in the village utilizing the trophy hunting grant. These developmental activities have uplifted the socio-economic conditions of the conservancy. Furthermore, trophy hunting program has positive impacts on the wildlife in the area, as the population of Markhor and Ibex has been increased, results in increasing number of other carnivores in the area. The WCSDO has banned any illegal activities in the habitat of wildlife and grazing of livestock in the core habitats. The program raised the level of awareness in communities and reduced poaching, illegal hunting, cutting of shrubs and extraction of Artemisia species from the pastures.

Keywords: Markhor, trophy hunting, Sassi-Haramosh, Gilgit

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91 The Optimal Order Policy for the Newsvendor Model under Worker Learning

Authors: Sunantha Teyarachakul

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We consider the worker-learning Newsvendor Model, under the case of lost-sales for unmet demand, with the research objective of proposing the cost-minimization order policy and lot size, scheduled to arrive at the beginning of the selling-period. In general, the New Vendor Model is used to find the optimal order quantity for the perishable items such as fashionable products or those with seasonal demand or short-life cycles. Technically, it is used when the product demand is stochastic and available for the single selling-season, and when there is only a one time opportunity for the vendor to purchase, with possibly of long ordering lead-times. Our work differs from the classical Newsvendor Model in that we incorporate the human factor (specifically worker learning) and its influence over the costs of processing units into the model. We describe this by using the well-known Wright’s Learning Curve. Most of the assumptions of the classical New Vendor Model are still maintained in our work, such as the constant per-unit cost of leftover and shortage, the zero initial inventory, as well as the continuous time. Our problem is challenging in the way that the best order quantity in the classical model, which is balancing the over-stocking and under-stocking costs, is no longer optimal. Specifically, when adding the cost-saving from worker learning to such expected total cost, the convexity of the cost function will likely not be maintained. This has called for a new way in determining the optimal order policy. In response to such challenges, we found a number of characteristics related to the expected cost function and its derivatives, which we then used in formulating the optimal ordering policy. Examples of such characteristics are; the optimal order quantity exists and is unique if the demand follows a Uniform Distribution; if the demand follows the Beta Distribution with some specific properties of its parameters, the second derivative of the expected cost function has at most two roots; and there exists the specific level of lot size that satisfies the first order condition. Our research results could be helpful for analysis of supply chain coordination and of the periodic review system for similar problems.

Keywords: inventory management, Newsvendor model, order policy, worker learning

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90 Modelling Social Influence and Cultural Variation in Global Low-Carbon Vehicle Transitions

Authors: Hazel Pettifor, Charlie Wilson, David Mccollum, Oreane Edelenbosch

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Vehicle purchase is a technology adoption decision that will strongly influence future energy and emission outcomes. Global integrated assessment models (IAMs) provide valuable insights into the medium and long terms effects of socio-economic development, technological change and climate policy. In this paper we present a unique and transparent approach for improving the behavioural representation of these models by incorporating social influence effects to more accurately represent consumer choice. This work draws together strong conceptual thinking and robust empirical evidence to introduce heterogeneous and interconnected consumers who vary in their aversion to new technologies. Focussing on vehicle choice, we conduct novel empirical research to parameterise consumer risk aversion and how this is shaped by social and cultural influences. We find robust evidence for social influence effects, and variation between countries as a function of cultural differences. We then formulate an approach to modelling social influence which is implementable in both simulation and optimisation-type models. We use two global integrated assessment models (IMAGE and MESSAGE) to analyse four scenarios that introduce social influence and cultural differences between regions. These scenarios allow us to explore the interactions between consumer preferences and social influence. We find that incorporating social influence effects into global models accelerates the early deployment of electric vehicles and stimulates more widespread deployment across adopter groups. Incorporating cultural variation leads to significant differences in deployment between culturally divergent regions such as the USA and China. Our analysis significantly extends the ability of global integrated assessment models to provide policy-relevant analysis grounded in real-world processes.

Keywords: behavioural realism, electric vehicles, social influence, vehicle choice

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89 Shariah Perspective on Legal Framework and Practice of Margin Financing in Pakistan

Authors: Anees Tahir

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Margin financing plays a significant role in Pakistan's stock market (PSX), offering investors the opportunity to maximize profits by borrowing funds from financiers to purchase marginable stocks. However, this financial practice raises several Shariah-related concerns. The study follows legal doctrinal research methodology. It explains and analyzes the law of margin financing prevailing in PSX and compares it with the principles of Shariah. It also examines and investigates the practices of margin financing from the perspective of Shariah. As part of the study, the researcher has conducted structured interviews with the Shariah advisors of the finance industry, academicians, market practitioners, and regulators. Thus, the study analyzes the findings of interviews. This article explores the legal framework and practice of margin financing in Pakistan from a Shariah perspective. The article investigates various issues relating to margin financing, including the fundamental concern of interest-based lending, which contravenes Islamic principles. It also highlights the problematic subject matter of margin financing, often involving non-Shariah compliant securities. Additionally, the article addresses the restriction on proprietary rights and the problematic element of speculation associated with margin financing. To provide a Shariah-compliant alternative, the Securities and Exchange Commission of Pakistan (SECP) introduced Murabahah Shares Financing (MSF) in 2019. However, the focus of the market is still on conventional margin financing. In the opinion of the researcher, the effective implementation of MSF is imperative because in the absence of such an alternative, the faith sensitive investor will remain deprived of a level playing field, and he is unable to get required financing opportunities through a halal and Shariah-compliant manner. This article argues that margin financing in its current form is incompatible with Shariah principles and should be discontinued. It is recommended that the SECP should gradually phase out the use of margin financing and increase reliance on MSF to provide faith-sensitive and committed investors with Shariah-compliant financing options.

Keywords: margin financing, marginable stocks, faith sensitive investor, Murabahah shares financing

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