Organizations and Markets in Emerging Economies
Founded in 2010 and dedicated to publishing articles on emerging economies from the perspectives of organizational sciences, marketing, economics, finance and related disciplines. Indexed in the Scopus (Q3) database since 2016 and in the Web of Science since 2021.
Vilniaus universiteto leidykla / Vilnius University Press
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Consumers’ Nostalgic Re-Engagement with Media in Emerging Markets: Emotional Needs, Content Overload, and Exposure
Grounded in uses-and-gratifications (U&G) theory, this research examines how millennials (Gen Y) nostalgically re-engage with media content and its outcomes in the emerging market context of India. The authors posit that nostalgia serves as both an emotional driver and a coping mechanism for digital overload, extending U&G theory by incorporating socially moderated gratifications beyond individual motives. Drawing on survey data (n=510) and using structural equation modeling to analyze the data, the authors find that while emotional needs and time of exposure boost nostalgic media engagement, perceived content overload reduces it. This engagement, in turn, enhances social sharing and emotional content attachment, with social connectedness moderating this effect. By showing that gratifications are not just individual (but also socially moderated) and by theorizing nostalgia as a coping mechanism against digital overload, the findings underscore that nostalgic re-engagement fulfils dual personal/social roles. Overall, the results detail the pathways and moderating factors influencing nostalgic media re-engagement, offering novel insight into the effect of individual motivations and social interactions on content consumption. Finally, the results reveal pertinent managerial implications, e.g., by suggesting the importance of reducing content overload (e.g., through curated recommendations), fostering social bonding via user-generated content, and incorporating nostalgic features like “memory lanes” and throwback content.
Copyright (c) 2025 Rohit Yadav | Linda Hollebeek | Algis Gaižutis | Mohit Yadav https://creativecommons.org/licenses/by/4.0
The Impact of Formal Entrepreneurship and Economic Freedom on the Size of the Shadow Economy in Asian Countries
This study aims to evaluate the impact of formal entrepreneurship and economic freedom on the size of the shadow economy in Asian countries. The research sample includes 22 Asian countries over the period from 1995 to 2018. The study employs reliable panel data estimation methods, including the Fixed Effects Model with robust standard errors method, the Driscoll-Kraay standard errors method, and the two-step system GMM method. The findings indicate that formal entrepreneurship has a positive relationship with the size of the shadow economy, while economic freedom and its two sub-components, business freedom and trade freedom, reduce the size of the shadow economy. Additionally, economic freedom, business freedom, and trade freedom play a moderating role in reducing the positive relationship between formal entrepreneurship and the size of the shadow economy. Our study suggests that governments should comprehensively evaluate the effectiveness of policies promoting entrepreneurship and consider expanding economic freedom, particularly business freedom and trade freedom.
Copyright (c) 2025 Buu Kiem Dang https://creativecommons.org/licenses/by/4.0
The Dark Side of The Moon: Unmasking Behavioral Risk Behind Fintech Adoption Among Digital Natives
The rapid expansion of financial technology ( fintech) has reshaped financial behavior, especially among digital natives in Indonesia. This study examines the impact of financial inclusion and financial literacy on online loan decisions and impulsive buying behavior, with online loan decisions serving as a mediator. A survey was conducted with 334 respondents, focusing on digital natives who have used online loan services. Using Structural Equation Modeling (SEM), the study found that financial inclusion positively influences online loan decisions, while financial literacy negatively impacts both online loan decisions and impulsive buying behavior. Notably, online loan decisions partially mediate the relationship between financial inclusion, financial literacy, and impulsive buying behavior. These findings highlight the complex role of fintech in promoting financial inclusion while also introducing behavioral risks. The study underscores the importance of financial literacy in mitigating impulsive financial behaviors among digital natives.
Copyright (c) 2025 Syarief Dienan Yahya | Andi Fauziah Yahya | Yogi Hady Afrizal https://creativecommons.org/licenses/by/4.0
The Impact of Corruption and Financial Inclusion Interaction on Poverty in Africa’s Most Unbanked Nations
Financial inclusion (FI) has been widely advocated as a means of improving poor economic possibilities, smoothing investments and savings, and providing a safety net against economic shocks. Despite the empirical evidence supporting the benefits of FI on poverty reduction, less attention has been paid to the role of control of corruption (CRR) on FI and poverty nexus. We evaluate the influence of CRR on the FI–poverty relation in Africa’s most unbanked nations (i.e. Egypt, Kenya, Morocco, Nigeria, and South Africa) from 2004 to 2022. Using panel regressions such as DOLS and FMOLS estimators, the results portray that FI is more effective in reducing poverty at greater CRR, whereas FI has the opposite effect at the least CRR. Other core drivers of poverty include GDP per capita growth, inflation, and money supply. The coefficients of the variables of interest (i.e. financial inclusion, control of corruption, and their interaction) show consistency in terms of size, signs, and significance, suggesting robustness in the results. Thus, Africa’s governments and relevant authorities are advised to control corruption to ensure effective poverty reduction impact of financial inclusion. This will guarantee that intended groups receive the benefits of financial inclusion, leading to poverty reduction.
Copyright (c) 2025 Musa Abdullahi Sakanko | Nurudeen Abu | Awadh Ahmed Mohammed Gamal | Salimatu Rufai Mohammed https://creativecommons.org/licenses/by/4.0
The Role of Green Financial Instruments, Monetary Policy, and Foreign Direct Investment in Promoting Sustainable Development in Developing ASEAN Countries
The global focus on sustainable development intensified with the introduction of the Sustainable Development Goals (SDGs) in 2015, with the primary aim of balancing economic growth, social well-being, and environmental responsibility. This research explores how green bonds, interest rate policies, and foreign direct investment (FDI) contribute to the progress of SDGs in four developing ASEAN nations: Indonesia, Malaysia, the Philippines, and Thailand. Using quarterly data from 2018 to 2023, the study applies the Panel Vector Error Correction Model (PVECM) to uncover the dynamics at work. The findings reveal that green bonds and foreign direct investment have a notable and positive effect on the SDG index in both the short and long term. On the other hand, the impact of policy interest rates is negative, though statistically insignificant, particularly when rates are high. These results provide valuable guidance for policymakers seeking to enhance the effectiveness of financial tools and investments in driving sustainable development. Furthermore, the study stresses the importance of well-rounded policy frameworks that integrate economic, social, and environmental objectives. Theoretically, this study contributes to the refinement of Ecological Modernization Theory by empirically demonstrating how green financing and FDI serve as pivotal instruments in advancing sustainable development within emerging ASEAN economies.
Copyright (c) 2025 Ezri Chen Eunike Mendrofa | Sri Andaiyani https://creativecommons.org/licenses/by/4.0
Copyright (c) 2025 Authors https://creativecommons.org/licenses/by/4.0
The Role of Green Self-Identity and Self-Congruity in Sustainable Food Consumption Behaviour
The aim of this paper is to explore the role of green self-identity and self-congruity with green food products in predicting consumers’ sustainable food consumption behaviour. Previous research suggests that there is a relationship between individuals’ self-identity and the consumption of products. However, when it comes to the realm of sustainable food consumption, those relations are not unambiguous. This study employs a survey with a sample of 837 respondents in Lithuania. The findings confirm that green self-identity and self-congruity with green food products positively influence subsequent sustainable food consumption behaviour both directly and indirectly. The implications of this study can be used to better understand green consumer behaviour and provide useful information to marketers and policymakers by suggesting that the promotion of sustainable food consumption behaviour should highlight not only functional but symbolic benefits as well.
Copyright (c) 2022 Žaneta Gravelines | Jūratė Banytė | Aistė Dovalienė | Agnė Gadeikienė
Does Financial Inclusion Reduce Poverty in Niger State? Evidence from Logistic Regression Technique
This study employs the logistic regression method to examine the effect of financial inclusion on the level of poverty in Niger State of Nigeria based on cross-sectional data randomly collected from 624 respondents across 224 towns and villages in 12 local government areas (LGAs) of the state. The estimation results illustrate that financial inclusion (proxied by bank account ownership, including access to bank, credit, and mobile phone) is significantly and negatively related to the level of poverty. This empirical outcome is further validated by the results of the Probit regression technique which show a significant negative relationship between financial inclusion and poverty in the state. Based on these empirical findings, the study recommends policies which include broadening bank coverage, softening credit requirements, and enhancement of people’s access to mobile phone and internet services in rural areas of Niger state.
Copyright (c) 2022 Nurudeen Abu | Musa Abudullahi Sakanko | Joseph David | Awadh Ahmed Mohammed Gamal | Ben Obi
Customer Engagement in Emerging Markets: Framework and Propositions
Emerging markets are a major contributor to global GDP, thus offering a primary source for economic growth. However, despite these acclaimed benefits, little remains known regarding customer engagement (i.e., a customer’s resource investment in his/her brand interactions) in emerging markets, thus exposing a pertinent literature-based gap. The development of enhanced insight into customer engagement dynamics in emerging (vs. developed) markets is important, given the idiosyncrasies characterizing these markets (e.g., chronic resource shortages, inadequate infrastructure), thus warranting the undertaking of further research in this integrative area. In response to this gap, this paper develops a framework and an associated set of Propositions of emerging market-based customer engagement, by drawing on Sheth’s (2011) emerging market hallmarks. Specifically, our Propositions postulate that the emerging market tenets of socio-political governance, inadequate infrastructure, market heterogeneity, chronic resource shortages, and unbranded competition uniquely affect emerging market-based customer engagement. We conclude by discussing our findings and by outlining key implications that arise from our analyses.
Copyright (c) 2022 Linda D. Hollebeek | Norberto Muniz-Martinez | Moira Clark | Agne Simanaviciute | Neda Letukyte
Investigation of Fractal Market Hypothesis in Emerging Markets: Evidence from the MINT Stock Markets
This study aims to investigate the market efficiency of emerging stock markets, namely the Mexico, Indonesia, Nigeria, and Turkey (MINT) stock markets based on the Fractal Market Hypothesis. For this purpose, the ARFIMA and ARFIMA-FIGARCH type models are used to analyze the MINT stock return series. In this study, the dataset encompasses the daily frequency data of the MINT stock market indices from January 12, 2018, to January 12, 2022. The empirical findings show that long memory is reported for the MINT stock returns. The long memory in the returns implies that the MINT stock prices follow a predictable behavior that is consistent with the Fractal Market Hypothesis. The long memory in the volatility implies that the uncertainty or risk is an important factor in the formation of price movements in the MINT stock prices. Moreover, the MINT stock prices consist of the effect of shocks and news that occurred in the recent past. Thus, this study contributes to investors, academics, and market regulatory authorities. Besides, as far as we know, the current literature on the analysis of the fractal market hypothesis to explore the efficiency of the MINT stock markets has not been found.
Relationship between Person–Environment Fit Types and Turnover Intention: A Moderated Mediation Model
In this study, drawing on Hobfoll’s Conservation of Resources (COR) Theory, we tested a moderated mediation model that investigates person–organization (PO) fit as the mediator and per- son–job (PJ) fit as the moderator in the relationship between person–supervisor (PS) fit and turnover intention. Data were collected from 232 bank employees in Turkey by using a survey method. Consistent with hypothesized conceptual scheme, results showed that PO fit mediated the relationship between PS fit and turnover intention. Furthermore, moderated mediation results indicate that PJ fit not only moderated the relationship between PS fit and PO fit but also reinforced the indirect effect of PS fit on turnover intention (via PO fit). We argue that indirect effect of PS fit on turnover intention through PO fit was stronger for employees with high job fit than for employees with low job fit. The theoretical and practical implications, limitations, and future research directions are also discussed.
Copyright (c) 2022 Gökhan Kerse | Daimi Koçak | Mustafa Babadağ
Fair and Square: Impact of Hospitality Employees’ Justice Perceptions and Job Embeddedness on Citizenship Behavior during COVID-19
COVID-19 pandemic has adversely impacted all industries, and the hospitality sector has been the worst hit. Drawing upon conservation of resource (COR) theory, it was hypothesized that organizational justice as well as job embeddedness will positively impact employees’ engagement in organizational citizenship behavior (OCB). In addition, the moderating role of job embeddedness in organizational justice–OCB relationship was studied. Using time-lagged data of hospitality employees from India, the results demonstrate that of all dimensions of organizational justice, interactional justice emerges as the strongest predictor of OCB. Further, job embeddedness was seen to have a significant relationship with all dimensions of OCB. Support was also found for the moderating role of job embeddedness in strengthening the positive relationship between justice perceptions and certain dimensions of OCB. Finally, the implications are discussed enhancing our understanding of organizational justice—job embeddedness—OCB relationship in Indian hospitality sector during the COVID-19 pandemic, suggesting several measures which can be taken by managers of this sector to promote employee extra role behaviors.
Copyright (c) 2022 Bindu Chhabra | Manit Mishra
Trade Integration and Export Aspiration: Evidence from India’s Trade in Goods with BRICS Countries
The purpose of this study was to examine the dynamics of trade between India and the BRICS countries as well as to gauge the relative strength of Indian exports to those nations. The trade integration patterns among BRICS countries were also analyzed. To quantify the extent to which India’s exports correspond to the needs of its BRICS counterparts, a novel export aspiration index was constructed. The index of trade integration patterns has also been employed to quantify India’s trade integration pattern with other BRICS members. Further, the gravity model of trade has been employed to analyze the fundamentals of India–BRICS trade. The export aspiration in individual BRICS countries shows a diverse pattern. However, India’s export aspiration in these countries has improved, although marginally in the long run. Such empirical evidence substantiates that the relative strength of India’s exports within its BRICS counterparts has marginally improved over time. Moreover, the trade integration index indicates a similar trade integration pattern among the BRICS countries and corroborates the presence of inter-industry trade. Added to the conventional variables of the gravity model, India’s outward multilateral trade resistance and BRICS inward multilateral trade resistance significantly promote India–BRICS trade. Hence, the relative strength of Indian exports will increase substantially if India’s commodity composition is diversified by including more commodities in its export baskets that correspond to the needs and changing conditions of the BRICS economies.
Copyright (c) 2022 Aamir Jamal | Mirza Nazrana Beg
Emerging Market versus Western Expatriates in Japan during the Covid-19 Pandemic
In this paper, the term “EMex” is coined to refer to emerging market expatriates who had to adjust to working and living in Japan during the Covid-19 pandemic. The Social Identity Theory is applied together with the Grounded Theory to develop a more nuanced picture of how EMex coped with the adjustment process. We found that EMex were confronted with various challenges, some of which were somewhat similar, while others were quite different compared to those experienced by the Western expatriates. All the interviewees in this study spent most of their assignment duration in Japan at their home office. Occasionally, when EMex were allowed to go to their office, they were assigned to special projects with international teams, and so they did not have any contact with non-English speaking local (Japanese) managers. Like Western expatriates, they also missed in-person meetings with their workmates at the office; in spite of their IT literacy, they also faced challenges conducting online meetings from their home office. EMex were not given housing allowance, and this added to the difficulty in adjusting to living in Japan compared to Western expatriates. Moreover, their motivations and perspectives of the future differed from those of Western managers, who had a more secure future with their company. Also EMex faced out-group categorization issues by host-country nationals (HCNs) even if some of them planned to extend their stay in Japan after their assignment ended.
Copyright (c) 2022 Ralf Bebenroth | Yasmin Nur Nahar
Does Religious Proximity Affect FDI Location Choice? An Empirical Analysis of Outward FDI from Morocco to 54 Host Countries
The present paper investigates the effect of religious distance on the choice of location of Moroccan Multinational Enterprises (MNEs) when investing abroad. The main research hypothesis considers the religion as an element of the psychic distance between the home country and host countries that can affect the FDI location decision. The results of the Robust Weighted Least Squares (RWLS) estimation method using panel data of outward FDI flows from Morocco to 54 host countries from 2007 to 2020 show that the more the local Muslim population is important in the host country, the more it receives FDI from Morocco. The results of the study are highly relevant to policymakers as they prove that the religion is important for inward and outward foreign direct investment. On the one hand, policy makers in charge of FDI attractiveness in the host country have to adopt religious strategies accompanied by public–private partnerships to integrate main foreign religions to facilitate the integration of MNEs and reduce their transaction costs. On the other hand, policy makers in charge of promoting outward FDI from the home country have to establish a liaison office in host countries to support the MNEs and facilitate their internationalization process.
Copyright (c) 2022 Jihad Ait Soussane | Dalal Mansouri | Zahra Mansouri
Economic Integration in Latin America: An Approach Through the Analysis of Biblio­metric Indicators on Research Production
This article analyzes different bibliometric indicators on research papers which examine the issue of economic integration in the Latin American region. The documents have been obtained from the Scopus bibliographic database; a total of 564 papers published in the time span from 2000 to 2020 have been identified, processed, and analyzed using the open-source software Bibliometrix and Vos Viewer. The results achieved allow identifying elements such as volume and relevance in scientific publications by country, H-G-M index of researchers with the greatest impact, estimation of Lotka’s Law, the analysis of co-occurrence between keywords, the dynamics in publication of the main sources, and finally, the thematic evolution in the last two decades. The findings provide a better understanding of the research processes as well as a comprehensive analysis of authors, their impact and the relevant sources in the economic integration of Latin America.
Copyright (c) 2022 William A. Malpica Zapata | Víctor Hugo Nauzan Ceballos | Leidy Maritza Silva Rodríguez
Strategic Partnership between SME Retailers and Modern Suppliers in Indonesia: A Relationship Marketing Approach
This study aimed to analyze the business marketing relationship between modern suppliers and SME retailers to empower and strengthen SMEs in Indonesia. The theoretical framework is the relationship marketing model developed by Morgan and Hunt (1994). This framework is based on trust and commitment as the two key mediating variables. The study surveyed 250 SME retailers as respondents selected using purposive sampling. Furthermore, hypotheses were tested using path analysis. The findings showed that trust and commitment to business partnerships mediate the effect of influence strategy on loyalty to business partners and economic performance. The influence strategy significantly affects the business performance of the involved parties. Therefore, strategic business partnerships with modern suppliers improve SME retailers’ business performance.
Copyright (c) 2022 Anton Setyawan | Fairuz Mudhofar | Yasinta Arum | Ihwan Susila | Moechammad Nasir
Distribution of Constitutional Funds and Rural Credit in Brazilian Midwest Region
Access to credit in agriculture is an important mechanism for increasing farms’ technological level and productivity, while the Fundo Constitucional do Centro-Oeste (FCO) policy also includes a reduction in regional disparities. In this study, we aimed to investigate whether the FCO resources in rural credit are increasing access to rural credit by municipalities in the Brazilian Midwest region. This study covers a panel data of 467 municipalities from 1995 to 2022. To measure credit distribution, we employed inequality indices and an OLS regression to determine the main factors affecting credit demand. The results demonstrated a major concentration of resources, including FCO, in more developed regions where consolidated grain production is predominant. A slight tendency toward diffusing resources was observed, mainly in livestock production financial resources. Structural and institutional constraints in more backward municipalities are responsible for the huge gap in total credit obtained yearly, which the FCO policy is unable to completely surpass, limiting the fund’s intention to promote regional development. This study confirms that the FCO policy for the agricultural sector is market-oriented, funding mainly grains and cattle ranching, which occur more frequently in developed municipalities. We demonstrated that few changes have occurred to transform this pattern over the decades, reducing the effectiveness of this policy.
Copyright (c) 2025 Raysa Palheta Borges | Marcos Rodrigues https://creativecommons.org/licenses/by/4.0
Analyzing the Linkages between Diaspora Remittances, Institutions, and Self-Employed Business Activities: Insights from an Emerging Economy
Diaspora remittance either smooths consumption, boosts welfare among recipients, or enhances the balance of payment in economies such as developing nations. Nonetheless, institutions that support its usefulness for financing business are always a concern, as they may not encourage interest in self-employment. The study investigates the linkages between diaspora remittances, institutions, and self-employed business activities. The integration is essential for promoting entrepreneurship while solving the unemployment problem. Annual time series data sets covering the period from 1991 to 2020. were used in Nigeria. The autoregressive distributed lag (ARDL) is used as the baseline. Three long-run estimate techniques are used for sensitivity analysis. The short-run coefficient of diaspora remittance on self-employment is positive and significant. In the long run, the effect of diaspora remittance on self-employment is significantly negative. It shows that diaspora remittances are used for immediate consumption, rather than translating into long-term employment generation in Nigeria. However, the impact of institutions on self-employment, in the short and long run, is significantly negative revealing poor institutions that are inadequate for employment creation. Due to poor institutional quality, diaspora remittances do not translate to long-run self-employment creation. Policymakers must strengthen the institutional environment to incentivize diasporans to remit.
Copyright (c) 2025 Idowu Emmanuel Olubodun | James Temitope Dada | Adebanji A. W. Ayeni | Kehinde Oso Osotimehin https://creativecommons.org/licenses/by/4.0
FDI Spillovers in Emerging Markets: Does Economic Policy Uncertainty and Geopolitical Risk Matter?
This study investigates the influence of economic policy uncertainty (EPU) and geopolitical risk (GPR) on the spillovers of foreign direct investment (FDI) within emerging markets, represented by the BRICS (Brazil, Russia, India, China, and South Africa) nations. Using a Time-Varying Parameter Vector Autoregressive (TVP-VAR) model and a dynamic Diebold and Yilmaz (DY) (2012) spillover index, the research assesses the interconnectedness and spillover effects of FDI flows among the BRICS countries over a 25-year period (1998–2023). The findings reveal significant spillover effects in the FDI of the BRICS nations, with Russia being a net transmitter and China a net receiver. Moreover, EPU and GPR significantly influence these FDI spillovers, with the effect of GPR being more predominant, highlighting the increased sensitivity of emerging markets to economic and geopolitical risks. Therefore, these findings underscore the role of coordinated policy measures in mitigating systemic risks and enhancing resilience against geopolitical and economic shocks. Overall, this study represents a novel contribution to existing literature by providing insight into the impacts of economic policy and geopolitical uncertainties on spillovers of foreign financial flows in emerging markets, particularly the BRICS nations.
Copyright (c) 2025 Damien Kunjal | Linah Mutemeri | Yuthika Naidoo | Saien Moodley | Tharosha Reddy | Keshav Govender | Wendile Msomi https://creativecommons.org/licenses/by/4.0
Are Islamic Gold-Backed Cryptocurrencies Bridging Digital and Traditional assets in OIC Emerging Markets?
This research explores the financial role of Hello Gold (HGT) and X8X Token (X8X) as Islamic gold-backed cryptocurrencies to bridge digital (Bitcoin, Ethereum, UCRY Price, UCRY Policy, and ICEA) and traditional (conventional stock indexes, government bonds, foreign exchange, and Islamic stock indexes) assets. Quantile via moment by Machado and Santos Silva (2019) was utilized as the main methodology, followed by a feasible generalized least square (FGLS) and a difference generalized method of moment (Diff-GMM) as robustness testing. The research term spanned from August 6, 2018 until June 30, 2023 within five emerging countries in the Organization of Islamic Cooperation (OIC) including Nigeria, Turkey, Indonesia, Malaysia, and Pakistan. It was found that Hello Gold and X8X Token primarily bridge the function as strong diversifiers, particularly for Bitcoin and Ethereum. However, Hello Gold performs strongly as a safe haven for Islamic stock indexes in bearish conditions and as a strong diversifier during high cryptocurrency price uncertainty.
Copyright (c) 2025 Joana Vevila Rahardjo | Fanessa Anddromeda | Graciella Jeanne Aretha Kurniawati | Shinta Amalina Hazrati Havidz https://creativecommons.org/licenses/by/4.0
Hysteresis Effects on Unemployment Rates: A Comparative Study of the Baltic States Before and After EU Accession
<span class="italik" style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">This study examines the hysteresis effects on unemployment rates in the Baltic countries using the RALS-LM unit root test method, based on monthly data from February 2000 to August 2024. It assesses the persistence of unemployment by gender, focusing on both female and male unemployment rates. Additionally, the study provides a detailed evaluation of the hysteresis effects observed on unemployment rates before and after the Baltic countries’ accession to the European Union (EU). The findings show that the unemployment rates in these countries are highly sensitive to long-term structural changes. Structural breaks occurred mainly between 2001 and 2003 before EU accession, while the 2008–2009 Global Financial Crisis and the European Debt Crisis shifted these breaks to the 2007–2010 period. Significant structural changes in total unemployment were observed in Estonia and Lithuania after their EU accession. The results indicate hysteresis effects in Estonia and Latvia, whereas Lithuania shows varying patterns of unemployment persistence. This study highlights the importance of understanding the long-term effects of structural changes and external shocks on labor market dynamics in the Baltic countries.
Copyright (c) 2025 Tuna Köse https://creativecommons.org/licenses/by/4.0
Analyzing the Influence of Sustainability Benefits on Chilean Consumers’ Intentions to Purchase Refurbished Smartphones
<span class="italik" style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">This study examines the willingness of Chilean consumers to buy refurbished smartphones and how various benefits associated with these products, including sustainability advantages, influence their decision-making processes. Utilizing the consumer acceptance model for refurbished smartphones, data was collected through personal interviews with 190 consumers in a shopping mall setting. The findings indicate that the intention of Chilean consumers to purchase refurbished products is primarily driven by their subjective evaluations of perceived product value and risk as well as their positive brand evaluations. However, environmental concerns did not significantly impact purchase intentions. The study discusses both the theoretical and practical implications of these findings. By identifying enablers and barriers to sustainable consumption among Chilean consumers, our study complements research on the sustainability marketing of refurbished products in emerging markets. Furthermore, it adds to the literature on the evolution of circular economy approaches in emerging markets such as Chile, which differ in both socio-economic and cultural terms from more developed markets.
Copyright (c) 2025 Ali Kara | John E. Spillan | Guido Grunwald | German Rojas Cabezas | Nicholas Marquez Alvarez | Victor Raul Nocetti Nuñez https://creativecommons.org/licenses/by/4.0
Unlocking Financial Potential: Self-efficacy Transforming Capability into Well-Being for Working Women
<span class="italik" style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">The primary purpose of this study is to identify the influence of financial capabilities on women’s financial well-being and to study the mediating influence of self-efficacy in this relationship in Delhi-National Capital Region (NCR). The data were collected through purposive sampling using a questionnaire distributed from February to May 2024 to Delhi-NCR women engaged in any economic activity. Delhi-NCR is a metropolitan area encompassing Delhi and its surrounding districts in neighbouring states. Data analysis was performed on 250 responses from working women using purposive sampling. Variance-based Partial Least Square Structure Equation Modelling (PLS-SEM) was applied to test the conceptual model. This study operationalizes and validates financial capabilities as a reflective higher-order construct formed by two dimensions such as financial literacy and inclusion. Findings illustrate that financial capabilities directly influence working women’s financial well-being, and this relationship was partially mediated by financial self-efficacy. To improve women workers’ financial well-being, such policies and programs should be tailored to boost women’s confidence levels and beliefs, education, and inclusion in the financial dimension. This study directs policymakers, government, employers, and financial institutions to build confidence levels among women by organizing workshops and programs, which promotes their financial well-being and ultimately empowers them financially.
Copyright (c) 2025 Priya Gupta | Mamta Aggarwal | Meera Bamba https://creativecommons.org/licenses/by/4.0
Does Fintech Usage Alter the Relationships Between Financial Literacy, Behaviour and Well-Being? Evidence from India
<span class="italik" style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">The emergence of fintech has rapidly transformed the way people manage their finances, yet its impact on personal financial outcomes remains relatively understudied. This study aims to examine how fintech usage (FTU) influences the relationship between financial literacy (FL) and financial well-being (FWB) through financial behaviour (FB) using a moderated mediation model. Using a proprietary dataset, the hypothesised relationships are analysed applying the PROCESS macro in IBM SPSS Statistics. The analysis reveals that FB is a partial mediator in the FL-FWB equation, while FTU negatively moderates the relationship between FL and FB. However, FTU does not significantly moderate the relationship between FL and FWB. The findings carry significant implications for policymakers and fintech service providers. Policymakers should strive to include a digital literacy component in financial education programs to better equip individuals to navigate today’s digitalised society, while fintech companies should focus on designing products that complement users’ FL and facilitate the adoption of financially healthy behaviours.
Copyright (c) 2025 Shamli Prabhakaran | Mynavathi L https://creativecommons.org/licenses/by/4.0
Investigation of Interplay of Meaning of Work, Job Pride, and Job Performance on Turnover Intention: Evidence from Millennial Bankers in Central Java, Indonesia
Retaining millennial employees in the workforce is a pressing challenge for organizations. Therefore, this research aimed to investigate the interconnections between the meaning of work, job pride, and job performance, and how job pride and job performance impacted turnover intention of millennials. Cross-sectional surveys of 250 banking employees in Central Java, Indonesia, collected through a multistage sampling procedure were used. In addition, Structural Equation Modeling-Partial Least Square (SEM-PLS) was used to analyze these associations. The results showed significant positive associations among the meaning of work, job pride, and job performance. However, results proposed that job pride and job performance did not negatively affect turnover intention. This research contributed valuable theoretical understanding of the concept of the meaning of work for millennials and offered practical implications for banking managers in human resource management.
Copyright (c) 2025 Masykur Lutfi Muttaqin | Sinto Sunaryo https://creativecommons.org/licenses/by/4.0
Copyright (c) 2024 Authors https://creativecommons.org/licenses/by/4.0
Geopolitical Uncertainty and Spending Behavior: Examining the Roles of Consumer Risk Perception, Coping Appraisal, and Resilience
<p class="ISSN-abst-virsus" lang="lt-LT" style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Nowadays consumers increasingly navigate uncertainties arising from cross-border conflicts, commercial tensions, and political instability, which pose threats not only to their mental well-being but also financial security. While existing research documents shifts in spending patterns and increased price sensitivity during geopolitical uncertainty, the psychological mechanisms driving these changes remain underexplored. This study applies Protection Motivation Theory (PMT) to examine how psychological factors shape spending patterns during periods of geopolitical uncertainty, with particular attention to the moderating role of individual resilience. Using structural equation modeling (SEM) on survey data from 1000 Lithuanian consumers, we find that both threat appraisals (perceived vulnerability and severity) and coping appraisals (self-efficacy and response efficacy) significantly influence conservative spending behaviors. Notably, individual resilience buffers the impact of perceived vulnerability on spending patterns and enhancing both response and self-efficacy. <p class="ISSN-abst-vidus" lang="lt-LT" style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Our findings advance understanding of consumer responses to geopolitical uncertainty in three ways: by providing a theoretical framework for individual-level psychological responses, identifying resilience as a key moderating factor, and offering insights from a smaller economy’s perspective. These results have important implications for policymakers and businesses seeking to maintain economic stability during periods of geopolitical turbulence.
Copyright (c) 2025 Viltė Auruškevičienė | Eimantė Survilaitė | Dalius Misiūnas | Joseph Reardon https://creativecommons.org/licenses/by/4.0
Through Sadness to Sustainability: How Meaning Threat Sparks Sustainable Consumption
Prior research has highlighted that negative emotions have motivational features toward positive changes; however, findings are mixed and rather limited when it comes to the consumption domain. The present research expands existing perspectives on the motivational role of the negative emotion of sadness, which serves as a mechanism directed toward preventing losses in the future. With our research, we offer evidence that exposure to a meaning threat increases sadness. Moreover, the current research shows the direct effect of meaning threat on sustainable consumption. Most importantly, we demonstrate the mediating role of sadness and test this underlying process with different sustainable products. Theoretical and managerial implications are discussed, along with suggestions for future research.
Copyright (c) 2025 Zivile Kaminskiene | Justina Barsyte | Elze Uzdavinyte https://creativecommons.org/licenses/by/4.0