Asian Management and Business Review

How overconfidence and mental accounting influence investments? The moderating role of financial literacy

Johny Budiman, Jason Yodiputra, Candy Candy, Isnaini Nuzula Agustin — Tue, 04 Feb 2025 00:00:00 +0000

This research aims to investigate the influence of behavioral finance on stock investment decision-making in Indonesia, considering both rational and irrational behaviors. Key behavioral finance factors, including overconfidence, herding bias, mental accounting, and loss aversion, are examined to understand their impact on stock investment decisions, the financial literacy as moderating variables has been added to the model. A self-administered questionnaires were distributed to 391 active trading stock investor in Indonesia. Using Partial Least Squares method, the results shows that loss aversion and overconfidence negatively influence the investment decision. Further, the analysis confirmed the role of financial literacy as moderating variable for mental accounting and overconfidence. It is also consistent with the notion that financial literacy at least in terms of mental accounting biases under some conditions might actually reinforce certain specific cognitive shortcuts. This study’s results suggest policymakers and financial educators should work to increase investors’ literacy about finance, as well as their ability to identify biases they hold which could be used against them when making investment decisions.

The effect of financial literacy, financial self-efficacy, financial technology literacy, and risk perception on stock investment decisions: Millennials preferences

Cahyo Sunarko, Sutrisno Sutrisno — Tue, 04 Feb 2025 00:00:00 +0000

Nowadays, investment has major importance for future contingencies. The millennials are one that currently take over a large number of capital market investors. To advocate optimal and sustainable decision-making in stock investment, it is important to explore the determinants of investment decisions which include financial literacy, financial self-efficacy, and risk perception. The study was conducted to assess the influence of financial literacy, financial self-efficacy, financial technology literacy, and risk perception on stock investment decisions in the millennial generation of Yogyakarta Special Region. The population of this study was millennial stock investors in the D.I. Yogyakarta province. The sample is used with criteria that age in between investing 28–43 years old; namely 115 people. The data was collected via a survey strategy and then analyzed using the SEM-PLS technique. Based on the research findings, it can be concluded that financial literacy has a significant positive effect on stock investment decisions among the millennials in Yogyakarta. Conversely, financial self-efficacy negatively impacts stock investment decisions significantly. Additionally, financial technology literacy also demonstrates a positive and significant influence on stock investment decisions. In contrast, risk perception does not appear to affect stock investment decisions among millennials in Yogyakarta. Theoretical and practical implications are discussed in the last section of this article.

Temporal preferences for ambiance: A study of tourist expectations across the day

Rischa Agustina, Budhi Sholeh Wibowo — Tue, 04 Feb 2025 00:00:00 +0000

Existing studies have recognized the significance of ambiance in influencing tourist behavior and preferences. However, little attention has been given to exploring tourist preferences for specific ambiances throughout the day. This study aims to fill this gap by examining whether temporal preferences for ambiance exist in tourism. We used the Kansei Engineering method to identify the specific ambiance tourists expect at different times of day: morning, afternoon, and evening. A survey of 200 domestic tourists in Yogyakarta, Indonesia, was conducted using semantic differential questionnaires. The results suggest five distinct constructs of ambiance that reflect tourist expectations at different times of the day. The results confirm the existence of temporal preferences for ambiance across the day. Specifically, tourists visiting Yogyakarta prefer peaceful, nature-centric attractions in the morning, cultural experiences and popular places in the afternoon, and romantic ambiances in the evening. Further analysis reveals that this pattern aligns with natural circadian rhythms. This study provides valuable insights for stakeholders to improve tourist experiences by aligning offerings with these temporal preferences.

Does motivation theory really play any significant role on explaining university teachers’ performance: Understanding Bangladeshi context

Rebaka Sultana, Mohammad Faruk, Md. Saiful Islam , Md. Asif Khaled — Tue, 04 Feb 2025 00:00:00 +0000

The development of human capital is significantly impacted by the way teachers nurture and expand their students' intellectual capacity. The motivation of teachers is a crucial determinant of their performance, and consequently, it influences the success and achievements of their students. In the context of Bangladesh's tertiary education system, the purpose of this study is to look into the implications of motivational theories on explaining and improving university teachers' performance. Along with the Maslow's and Herzberg's needs theory, there are other motivation theories and this study will investigate the current aspects that affect teachers' performance. A convenience sample of 200 randomly chosen informants is obtained via structured survey. To evaluate the study's hypotheses, factor analysis is used. The results indicate that most instructors in Bangladesh lack intrinsic motivation, which has no visible impact on their performance. Conversely, extrinsic incentive and instructors' performance are positively and significantly correlated. The whole basic wage package seems to have the greatest influence on teachers' motivation among all other elements. Finally, the study recommends that stakeholders should prioritize and enhance incentives, putting an emphasis on sustainable development to raise living standards in rural areas for teachers to boost their level of motivation and performance.

Green strategy for gaining competitive advantage in pharmacy: Exploring the role of green and social innovation

Budi Nur Siswanto, Irayanti Adriant, Rizqi Permana Sari, Agus Rahayu — Thu, 06 Feb 2025 00:00:00 +0000

Green strategy practices have become a major concern for many companies seeking to achieve competitive advantage. This study aims to explore the influence of green strategy on social innovation and green innovation and its impact on competitive advantage in pharmaceutical companies. A sample of 53 respondents consisting of the private sector and state-owned enterprises were selected in this study and then analyzed using a structural equation model (SEM-PLS). The results showed that the implementation of green strategy as a whole positively affects social innovation, green innovation, and competitive advantage. In addition, the role of mediation of social innovation and green innovation can strengthen the influence of green strategy on competitive advantage by increasing the company’s ability to innovate sustainably, as well as responding to increasingly environmentally conscious needs. The findings of the present study contribute to the literature, especially in strategic management, by offering notions of how to achieve competitive advantage. It also provides practical implications for companies to enable them to implement steps in environmentally friendly business practices.

Abusive leadership and turnover intention: How employee and work engagement act as shields

Thu, 06 Feb 2025 00:00:00 +0000

Abusive behavior in organizations is widely acknowledged to increase employee turnover intention, but the exact nature of this relationship remains debated in academic circles. This study aims to validate a structural model integrating employee engagement and work engagement as mediators between abusive leadership and turnover intention, addressing a gap in the current literature. This study used Harry King Nomogram sampling techniques, and primary data was collected from 111 employees working in the digital company sector. Utilize surveys to collect data, and then use SmartPLS’s Confirmatory Factor Analysis and Structural Equation Modeling to evaluate research model hypotheses. The hypothesis test shows that abusive leadership negatively impacts employee engagement and work engagement, employee engagement negatively impacts turnover intention, and work engagement negatively impacts turnover intention. However, the positive impact of abusive leadership on turnover intention was not supported. The mediation analysis between abusive leadership and turnover intention, conducted through employee and work engagement, demonstrated a comprehensive mediation effect. Abusive leadership was not proven to positively affect turnover intention, which means that how abusive the leadership behavior is is not why employees increase internal turnover. However, turnover intention can be increased when employees are not involved personally or in work. Organizations must ensure that they always carry out work engagement and employee engagement as an alternative to retaining employees.

Toward the development of dynamic innovation capabilities in a hospitality industry: A case study in glamping service provider

Anjar Priyono, Siti Nurulhuda Binti Nordin, Syadiyah Abdul Shukor — Tue, 04 Feb 2025 00:00:00 +0000

This research aims to identify the elements of dynamic innovation capabilities for glamping, with the goal of overcoming challenges in producing service designs aligned with customer preferences. The parties involved in glamping service design are also difficult to identify, hindering the optimal product development process. This study employs a qualitative case study approach to explore how glamping operators respond to changes in consumer preferences. Data collection was conducted using various techniques – i.e., interviews, observations, and focus group discussions – to maintain validity, and a series of case study protocols were prepared to ensure reliability. The findings indicate that the case study firm must continuously acquire tangible and intangible resources to pursue innovation. Notably, innovation is a moving target that requires constant changes. Resources will determine organizational capabilities, which subsequently govern the feasible strategic options. Firms may have various strategic choices for pursuing innovation, but success is determined by their capabilities. In other words, capabilities constraint for strategy execution. As this research is exploratory and conducted within a single company, it has limited generalizability. Future research could follow up by testing the findings through surveys.

Investigative model of repurchase intention on boycott brand of multinational franchise food and beverage in Indonesia

Tue, 18 Feb 2025 00:00:00 +0000

This study aims to develop an investigative model of repurchase intention from a multidisciplinary service marketing science perspective, focusing especially on conventional and digital franchise retail services. This is supported by psychological consumer purchasing behavior to deepen the analysis of customer repurchase decisions for multinational franchise retail food and beverage products in Indonesia. Following the boycott movement against certain foreign-brand food and beverage goods, the impact of religious beliefs, hostility, and the perception of the country of origin define this process. A causal/explanatory survey was employed as the research method. Participatory observations, interviews, and questionnaires with 220 respondents were used as primary data-gathering methods. These were distributed both digitally and conventionally. Google Form in all randomly selected public and private university analysis units in Indonesia. The observation unit (respondent) used a convenience/accidental sampling technique. The analytical tool employed Lisrel version 88.0. The findings reveal that Islamic religiosity, consumer animosity, and country of origin affect repurchase intention. This original research can generate specific and relevant findings for the Indonesian market context, which companies can use to design more effective marketing, brand management, and product development strategies. This will help companies better understand their customers’ preferences and needs, as well as build stronger relationships with consumers.

How do social entrepreneurship factors influence sustainable business development? The mediating role of social network

Tue, 18 Feb 2025 00:00:00 +0000

This study aimed to empirically investigate the factors of social entrepreneurship - namely, social mission, social innovation, and the mediating role of social networks in achieving sustainable business development within developing tourist villages. The research employed a quantitative approach, focusing on 42 tourist villages in Bantul Regency. Data analysis was conducted using Partial Least Squares Structural Equation Modeling (PLS-SEM). The findings revealed that social missions and social networks significantly and positively impact sustainable business development. However, social innovation did not show a significant effect on sustainable business development. Notably, social networks positively and significantly mediated the relationship between social innovation and sustainable business development. This study has several limitations. Firstly, it measured only two factors and one mediator of social entrepreneurship in addressing sustainable business development. Future research could explore other elements of social entrepreneurship, such as risk-taking. Secondly, social networking was used as a mediating variable; future studies could expand on this by incorporating HR practices. The results of this study have implications for social entrepreneurs, emphasizing the creation of relevant social and economic value for individuals and teams by addressing social and environmental needs. This approach is essential for developing creative and innovative solutions that ensure social, economic, and environmental sustainability in both normal and abnormal ecological situations.

Environmentally specific empowering leadership and organizational citizenship behavior toward the environment: The roles of green work engagement, psychological ownership, and environmental concern

Khutso Pitso Mankgele, Olawale Fatoki — Tue, 25 Feb 2025 00:00:00 +0000

This study investigates the influence of environmentally specific empowering leadership on organizational citizenship behavior towards the environment (OCBE) among employees in hospitality firms. A theoretical framework posits that environmentally specific empowering leadership enhances OCBE, with psychological ownership and green work engagement acting as mediating variables. Furthermore, environmental concern among co-employees moderates this relationship. Partial Least Squares Structural Equation Modelling (PLS-SEM) was used to analyze data collected from 525 mid-level managers working in three- to five-star hotels in the municipalities of Tshwane and Johannesburg using structured questionnaires. The findings confirm that environmentally specific empowering leadership significantly enhances OCBE. Psychological ownership and green work engagement are critical pathways in translating leadership practices into pro-environmental employee behaviors. Additionally, the moderating role of environmental concern underscores the importance of cultivating an organizational culture that values environmental sustainability. The study recommends that hospitality firms embed environmentally focused leadership practices within their organizational structures, emphasizing empowerment and employee engagement to foster pro-environmental behaviors. Policymakers are encouraged to incentivize sustainable leadership practices and provide training programs that equip managers with skills to inspire environmental responsibility among employees. These contributions advance policy and practice by highlighting the strategic role of leadership in promoting sustainability and positioning the hospitality sector as a model for environmentally conscious business operations.

The role of artificial intelligence in recruitment: Examining candidate experience as a mediator and organizational culture as a moderator in quality of hires

Jamaluddin, Roslina Alam, Niniek Lantara, Andi Rosdianti Razak, St Hatidja — Tue, 25 Feb 2025 00:00:00 +0000

This study investigates the influence of artificial intelligence (AI) implementation on recruitment outcomes, focusing on the mediating role of candidate experience and the moderating effects of trust in AI and organizational culture. Using a quantitative research design, data were collected from human resource (HR) professionals across various industries in Indonesia. The results reveal that AI implementation positively affects candidate experience and the quality of hires, with candidate experience as a significant mediator in these relationships. Trust in AI is found to play a dual role, both directly influencing candidate experience and quality of hires and moderating the relationship between AI implementation and candidate experience. Organizational culture, particularly an innovation-oriented culture, strengthens the impact of AI implementation on candidate experience. The study contributes to the theoretical understanding of candidate experience as a higher-order construct and highlights the importance of trust and cultural alignment in AI-driven recruitment. Practical implications emphasize the need for transparent AI systems, regular feedback, and fostering an innovation-oriented culture to enhance recruitment outcomes. Limitations include the cross-sectional design and the focus on a single country, suggesting opportunities for future research to explore longitudinal effects and cross-cultural comparisons.

More than a paycheck: How non-financial incentives shape employee motivation in public administration

Andi Irwan, Vebby Anwar, Cakra Zaitun — Tue, 25 Feb 2025 00:00:00 +0000

This study examines how non-monetary rewards affect worker motivation in Indonesia’s public sector, highlighting the moderating influence of leadership style and the mediating function of perceived organizational support (POS). Partial Least Squares Structural Equation Modelling (PLS-SEM) and survey data from 357 public sector workers were used to confirm that work-life balance, career advancement, job enrichment, and recognition significantly increase motivation, with career development having the most impact. POS mediates these ties, and their influence is increased by transformational leadership. These observations, which emphasize the value of organized career development, successful recognition programs, and leadership training, add to the body of knowledge in human resource management and provide valuable suggestions for legislators. Public service performance can be improved, and staff motivation can be raised by bolstering organizational support and encouraging leadership involvement.

A scientometric review of the relationship between learning agility and work engagement in modern management context

Farira Nareswari, Rini Juni Astuti — Thu, 27 Feb 2025 00:00:00 +0000

This study uses a scientometric approach to examine the relationship between learning agility and work engagement in modern management. Using the Scopus database, it identified trends, significant authors, and influential institutions from 1994 to 2023. The data sources in this study were taken from the Scopus database with the keywords “Learning Agility” AND “Work Engagement” AND “Modern Management” from 1994-2023, with a total of 720 documents. Then, it was visualized and analyzed using VOSviewer, RStudio, CiteSpace visualization, and bibliometric mapping software. The results showed that learning agility, the ability to quickly adapt to new experiences, work commitment, focus on completing tasks, and achieving goals are closely related. Machine learning, artificial neural networks, and predictive analytics can improve learning agility and work engagement. Transformational leadership, mental workload, social support, digital competence, and new technology adaptability also improve learning ability and work engagement. Theoretical implications of the study include understanding the dynamics of learning agility and work engagement dynamics. In contrast, practical implications include strategies to increase employee productivity through skill development and targeted interventions. The limitation of this research is the data selection process, which only provides general limitations. Therefore, this research suggests that in the future, data should be explicitly limited by selecting the data to be analyzed one by one by adopting a mixed-method approach.

Understanding turnover intention in Gen Z: Servant leadership and ethical climate in organization

Safira Dwi Tyas Putri, Alice Salendu, Aditya Wira Pahlawan — Thu, 27 Feb 2025 00:00:00 +0000

This study investigates the relationship between servant leadership and turnover intention among Generation Z employees in Indonesia, focusing on the mediating role of principled ethical climate and the moderating role of interpersonal justice. A cross-sectional quantitative approach was employed, collecting data from 317 Gen Z employees with at least one year of direct supervision. Data were analyzed using the Hayes PROCESS Model. The findings reveal that servant leadership directly negatively affects turnover intention, emphasizing its effectiveness in reducing employees’ desire to leave the organization. However, servant leadership also positively influences a principled ethical climate, significantly increasing turnover intention. This highlights a dual effect: while servant leadership can enhance retention, it also fosters a principled ethical environment that may be perceived as restrictive by Gen Z employees, who prioritize flexibility, leading to higher turnover intention. Interpersonal justice significantly moderates the relationship between servant leadership and a principled ethical climate. High levels of interpersonal justice weaken the positive influence of servant leadership on a principled ethical environment. Nevertheless, the indirect effect of interpersonal justice on turnover intention is insignificant, indicating that its role primarily impacts organizational climate rather than directly influencing turnover intention. This study contributes to the literature by elucidating the complex interplay between servant leadership, ethical climate, and justice in the Gen Z workforce. Practically, organizations are encouraged to adopt servant leadership styles while promoting a flexible and equitable culture to retain Gen Z talent. Future research could use longitudinal or cross-cultural approaches to explore these dynamics further.

Service-dominant logic in the hotel industry: Pathway to brand awareness and loyalty

Tanty Sondari, Nur Zeina Maya Sari, Ayke Nuraliati — Thu, 27 Feb 2025 00:00:00 +0000

This study aims to analyze the influence of service-dominant logic (SDL) on brand attitude, emotional brand attachment, and brand engagement and the impact of these three variables on brand awareness and brand loyalty among hotel users in Bandung City. A quantitative approach was used in this study with data collection techniques through questionnaires distributed to 230 respondents, namely hotel users in Bandung. The structural equation modeling method based on partial least squares (SEM-PLS) was used to test the relationship between variables in the research model. The results of the study indicate that SDL has a significant positive effect on brand attitude, emotional brand attachment, and brand engagement. in addition, brand attitude, emotional brand attachment, and brand engagement also have a positive effect on brand awareness and brand loyalty. These findings indicate that the SDL approach implemented by hotels can strengthen emotional relationships and consumer engagement with the brand, which ultimately increases customer awareness and loyalty to the hotel brand.