Index
2019; Emerald Publishing Limited; Linguagem: Inglês
10.1108/s1569-375920190000101018
ISSN1569-3759
Tópico(s)Impact of AI and Big Data on Business and Society
ResumoCitation (2019), "Index", Grima, S., Özen, E., Boz, H., Spiteri, J. and Thalassinos, E. (Ed.) Contemporary Issues in Behavioral Finance (Contemporary Studies in Economic and Financial Analysis, Vol. 101), Emerald Publishing Limited, Bingley, pp. 283-291. https://doi.org/10.1108/S1569-375920190000101018 Publisher: Emerald Publishing Limited Copyright © 2019 Emerald Publishing Limited INDEX Aaker’s and Joachimstahler’s model of consumer brand equity, 50–52 Adaptive Neuro-Fuzzy Inference System (ANFIS), 16, 21 visual prediction performance, 22–24 Adjustment-anchoring, 81 Advertising, 56 Affinity propagation clustering, 16 Ahi Unions, 67 Akaike information criterion, 167 Allais paradox, 80 Alternative input–output orders for prediction, 19–20 “Anchoring effect”, 88, 90 Anderson and Darling test, 267 ARCH LM test, 39 Artificial intelligence, 14 applications and evaluation, 20–23 artificial intelligence-oriented approach for stock price prediction, 15 economic data prediction, 17–20 future research ideas, 23–25 literature view, 15–17 Artificial Neural Networks (ANNs), 18 Asian financial crisis, 32–33 Association of British Insurers (ABI), 101, 245 Athens Stock Exchange, herd behavior in, 180 Augmented Dickey–Fuller test (ADF test), 38 unit root test results, 167 Augmented reality (AR), 54 application, 57–58, 62 comparison of respondents’ attitudes, 61 demographics, 59 experiential field research on, 60–64 frequencies of online information gathering and internet applications, 60 literature review, 55–58 online shopping frequencies of respondents, 60 place and potential, 54 purchasing behaviors of respondents, 59–60 purpose and method of study, 58–59 respondents’ attitudes toward brand trust and purchase intentions, 60–62 technology, 54–55 Augmented reality applications (AR applications), 157, 157 comments, 160–161 comparison of respondents’ attitudes toward experiential marketing, 159 findings and comments, 159–160 importance, purpose, and method of research, 157–158 method of research and hypotheses, 158 Auto-enrolment employer pension system, 105 pension systems, 103 plan, 110 system, 106–108 workplace schemes, 106 Autoregressive Integrated Moving Average model (ARIMA model), 16 Autoregressive Model (ARM), 18 Aydin Fig Producers Company, 68 Barlet test, 194–195 Bartlett kernel, 273 Bayes’ theorem, 79 Bayesian Learning on Gaussian process model (BG), 18 Bayesian learning theory, 79 Behavior(al) biases, (see also Cognitive biases), 84, 86, 112, 246 control, 7–8 dimension of economics, 216 economics, 205–206 in financial services, 103–104 influences, 100–102 intentions, 49 obstacles to proper planning, 105–116 Behavioral economy analysis, 205 data and methodology, 208–209 empirical results, 209–212 literature review, 206–208 Behavioral finance, 78, 80, 103, 105, 116, 216–217, 219, 247 acknowledges emotional, 101 anchoring, 83 avoidance of ambiguity, 82–83 cognitive contradiction, 83 conservatism, 81 framing, 82 herding, 83–84 literature, 81 loss aversion, 84 mental accounting, 82 optimism, 83 overconfidence, 82 regret avoidance, 84 representativeness, 82 status quo biases, 83 theories and research, 104 Behavioral obstacles, 105 amounts available for saving of average Maltese households, 108 behavioral finance, 116 choice-overload, 114 comparison tables, 120–138 employees participating in workplace pensions, 106 indicators used to calculate MMGPI, 107 people’s behavior, 112 portfolio options, 113–114 PRIIPs, 113 Save for Tomorrow−, 109–110 SRA, 111 BIST Whole Index, herd behavior on, 181–183 Brand trust within context of experiential marketing, 55–57 respondents’ attitudes toward, 60–62 Brand(ing), 46–47 ability, 56 associations, 51–52 awareness, 51–52 brand-as a person, 50 brand-as product, 50 brand-as-organization, 50 brand-as-symbol, 50 equity measurement and application of models, 46, 51 identity, 48, 50 image and reputation in, 48–49 information, 56 loyalty, 51 relational network brand, 47 reputation, 56 systematic analysis, 51 Bretton Woods fixed exchange rate system, 164 Cash and cashless payments in Poland literature review, 140–143 no possibility of cashless payment, 145–150 number and value of payments in Euro area, 142 research method and results of primary research, 143–145 Cashless Payment Support Program, 146 Central Bank of Republic of Turkey, 165–166 Chartered Institute of Personnel and Development (CIPD), 110 Chinese stock index, 16 Chinese stock markets, herd behavior in, 179 Co-integration regression, (see also Panel Johansen co-integration test), 269–274 Cognitive biases, 80–81 anchoring, 83 avoidance of ambiguity, 82–83 cognitive contradiction, 83 conservatism, 81 framing, 82 herding, 83–84 loss aversion, 84 mental accounting, 82 optimism, 83 overconfidence, 82 regret avoidance, 84 representativeness, 82 status quo biases, 83 Compensation-based herd behavior, 222 Consumer control, 6 as coping strategies against risks, 8–9 Consumer Financial Protection Bureau, 116 Consumers, 140–141, 146–147 Aaker’s and Joachimstahler’s model of consumer brand equity, 50–52 cash and cashless payments constitute, 140 risk in consumer behavior, 2–4 trust, 6 Contactless cards, 141 “Control of Corruption” indicator, 262 and SM performance, 266, 274 Cooperative(s), 66 historical dynamics of cooperatives in Turkey, 67–68 model, 67 movement, 68 “tedavün”, 67 Cooperatives Act, 68 Crypto-currencies, 25 Customer experiences, 56 participation in production, 8 DCC-GARCH method, 33 Department for Work & Pensions (DWP), 105–106, 110, 116 Diagonal BEKK model, 37 conditional correlation from, 41 Dynamic Boltzmann Machine (DyBM), 18 East Asia and Pacific, 262, 269 WGIs and stock market activity in, 269 Echo state network (ESN), 16 Economic data prediction, 17, 19 alternative input–output orders for prediction, 19–20 machine learning, 17–18 techniques for prediction applications, 18–19 time series prediction, 17–18 Efficient market hypothesis, 79, 100, 216–217, 220 semi-strong form market efficiency, 218 strong form market efficiency, 218–219 weak form market efficiency, 217–218 EGARCH models, 31 Ellsberg paradox, 80 Emotional/emotions, 98 attachment, 46 bonds, 46 tendency, 81 Employment growth, 71 level, 79 policy, 66 policy tool, 70–74 rates, 66 Enterprise Survey of World Bank, 266 Europe and Central Asia, 262, 269 WGIs and stock market activity in, 270 European Central Bank (ECB), 142 Exchange rate, 163–165 change in, 163 data and research method, 166–167 effect, 165 empirical analysis and results, 167–168 literature, 165–166 in Turkey, 164 Expectancy-value theory, 49 Expected utility theory, 79 Experiential marketing, 54–55, 155–158, 160 brand trust and purchase intention within context of, 55–57 comparison of respondents’ attitudes toward, 159 Financial crisis (2008), 229 Financial literacy, 78, 102, 235–236 behavioral finance and cognitive biases, 80–84 criticism of traditional finance models, 79–80 findings and comment, 87–92 literature review, 84–87 methodology, 87 properties of sampling group, 88 purpose and method of research, 87 traditional behavioral models in finance, 79 Financial markets instruments, 220 purchasing decision and herd behavior in, 223–224 Financial Times Stock Exchange 100 (FTSE 100), 31 Financial/finance behavior in financial services, 103–104 customers, 87 development, 30 education plan, 110 institution employees, 87 instrument, 83 investments, 84 knowledge, 148 risk, 4, 223–224 students, 87 traditional behavioral models in, 79 Firefly Algorithm (FA), 16 Framing, 82 bias, 90 Fringe Benefits Rules, 247 Fund managers, 177, 222 “Games-Howell” post hoc test, 91 “Government Effectiveness” indicator, 262 and SM performance, 264, 273 Government Governance Indicators (GGIs), 266 Johansen co-integration test for, 268 Granger causality test, 36, 166–167 Gross domestic product (GDP), 264 market capitalization as percentage of, 268 Herd behavior, 172, 216–217, 219 on BIST Whole Index, 181–183 fake/false, 174, 220 in financial markets, 223–224 in Hong Kong, 179 in Japan, 179 in Shanghai Indices, 179 in Shenzhen Indices, 179 in Taiwan, 179–180 in United States, 179 intentional, 174 irrational, 222–223 literature review, 178–181 rational, 220–222 result of regression analysis, 181 spurious, 174 and types, 173–181 Herd intelligence, 172 Herd psychology, 216 Herding, 83–84, 172 behavior, 85, 86 psychology bias, 90 Heuristics, 81, 223 Hidden Markov Model (HMM), 16 Human behavior, 81 Human psychology, 80 Hyperbolic Discounting, 108 Identity–Behavior–Image model, 48 Illusion of Control Theory, 8 Image in branding, 48–49 “Imece” (Turkish collaborative work), 67 Income Tax Act (1949), 248 Individual consumers, 245 investors, 78, 83 net worth, 102 wealth, 79 Industrialization, 66 Informatics community, 14 Information content of WGIs, 275 information-based herd behavior, 175, 221 waterfall, 221 Information technology applications, 54 developments in, 157 Intelligent systems, 14, 25 International Year of Cooperatives by United Nations General Assembly, 68 Internet banking, 188 analysis, 191 demographic characteristics of bank customers, 192 determination of factors affecting internet banking preferences, 194 factors affecting, 189 homogeneity and ANOVA test results, 199–200 independent two-sample t-test for gender, 197 literature review, 188–190 method, 191 participants’ preferences of branch, ATM, and, 193 results, 191 results of KMO and Bartlett’s test, 195 rotated factor matrix, 196 two independent sample t-tests according to marital status, 198 Intertemporal behavior, 98 Investor Compensation Scheme, 248 Investors, 81 behaviors, 86 buying behavior, 224 perception of financial risk, 223–224 stock pricing behavior, 85 Irish Association of Pension Funds, 114–115 ISE, herd behavior in, 180 Isolation effect phenomenon, 207, 210–211 Istanbul Stock Exchange (BIST), 16, 173 Istanbul Stock Exchange 100 index (BIST100 index), 30, 35, 38–39 Izmir Economics Congress, 68 Jarque-Bera test statistic, 38 Johansen Cointegration test, 168 K-nearest neighbor algorithm (K-NN), 18 Kaiser–Meyer–Olkin tests (KMO tests), 194–195 Karachi stock exchange (KSE), 264 KEİ;G–women’s labor and employment initiative, 73 Kinship of destination, 46 Knowledge-based behavior, 84 herd behavior, 175 Kooperatif, 67 Kurtosis values, 38 Lagrange multiplier (LM), 36 Latin America and Caribbean countries, 262, 269 WGIs and stock market activity in, 270 Leverage effect, 34 Libertarian Paternalism, 109 Ljung-Box Q-statistics, 40 Loss aversion, 84 bias, 88, 90 Machine learning, 14–15, 17–18 of Artificial Intelligence, 24–25 time series prediction approach, 18 training phases, 22 Maestro and Visa Electron (1996), 141 Malta, retirement planning in, 104 Market analysts, 84 capitalization as percentage of GDP, 266, 268 makers, 174 participants, 220–221 Market efficiency, 172 semi-strong form, 218 strong form, 218–219 weak form, 217–218 Marketing communication, 154–158, 160 Marmara earthquake (1999), 69 Melbourne Mercer Global Pension Index (MMGPI), 100, 107 Mental accounting, 82, 90 behavior, 85–86 Mental distress, 99 Mercer Melbourne Global Pension Index (2015), 101 Middle East and North Africa, 262, 269 WGIs and stock market activity in, 271 Ministry for Family and Social Solidarity (MFSS), 103, 229 Mobile application, 157–158, 160 banking, 190 payment, 143 Mood marketing, 46 Morgan Stanley Capital International European stock index (MSCI stock index), 34, 264 Multidimensional Poverty Index (MPI), 237 Multipurpose women’s cooperatives, 69 NASDAQ stock market index, 16 National Cooperative Strategy and Action Plan (NCSAP), 69–70 Neo classical economics, 80 Nested K-nearest neighbor regression, 16 New York Stock Exchange (NYSE), 16 Newey–West standard errors, 273 Nigeria, Indonesia, Mexico, Philippines, and Turkey (NIMPT), 34 Nigeria Stock Exchange (NSE), 16 Nigerian stock exchange, 84 Nikkei 225 opening index, 16, 31 Non-cash payments, 141, 148 transactions, 141 North America, 262, 269 WGIs and stock market activity in, 271 NSO’s 2008 Household Budgetary Survey, 109 “Nudge 2.0” concept, 248 Nudge Unit, (see Behavioural Insights Team) “1/n Rule”, 114–115 Organisation for Economic Co-operation and Development (OECD), 66, 106 Overconfidence, 82, 88, 90 bias, 207 investors, 84 prejudice, 223 “Overoptimism” biases, 88, 90 Pacific Rim countries, 264 Packaged Retail and Insurance-based Investment Products Regulation (PRIIPs), 113 Panel Johansen co-integration test, 267–269 Payment card, 143 transactions, 141 Payments, 140–141 Pensions Act (2008), 105 Perceived risk, 2–3 as multi-dimensional concept, 4–5 Personal pensions, 107 plan, 237 Phillips and Perron test (PP test), 38–39 “Political Stability and no Violence” indicator, 262 and SM performance, 263–264, 273 Prediction, (see also Economic data prediction), 14 alternative input–output orders for, 19–20 applications, 15–16 time series, 15, 17–18, 20–21, 25 visual prediction performance, 22–24 Preferences of Bank customers, 188 Psychological biases, 88, 90, 91 factors, 78, 80 risk, 4 Purchase intention within context of experiential marketing, 55–57 respondents’ attitudes toward, 60–62 Rational herd behavior, 175, 220 compensation based on herding, 176–177 compensation-based herd behavior, 222 information-based herd behavior, 221 informational cascade, 175–176 market participants, 220–221 reputation based on herding, 177–178 reputation-based herd behavior, 222 Rational market behavior, 101 Regression Equation Specification Error Test (RESET), 267 “Regulatory Quality” indicator, 262 and SM performance, 265, 273–274 Representativeness, 81–82 bias, 85, 88, 90 Reputation, 177 as awareness, assessment, asset, 49 based on herding, 177–178 in branding, 48 reputation-based herd behavior, 222 Retirement Optimism Index, 111 Retirement planning, 97, 228–229 application of findings to local market, 244 behavior in financial services, 103–104 behavioral influences, 100–102 behavioral obstacles to proper planning, 105–116 European countries comparison tables, 120–138 European data, 99–100 expectation, 229–230 financial literacy, 235–236 financial situation, 234–235 findings, 234, 240–241 interviews, 240–241 limitations, 233–234, 241–242 in Malta, 104 means of saving toward retirement, 238–240 median age of total European population, 98 methodology, 230–233 online survey, 251–259 projected old-age dependency ratio based on total expected population, 99 retirement outlook, 236–237 scope of study, 100 significance of study, 102–103 Retirement savings, 237–238 Risk, 2, 6, 8 in consumer behavior, 2–4 control as coping strategies against, 8–9 perceived risk as multi-dimensional concept, 4–5 perception, 4 reduction strategies, 5–6 risk-aversion behavior, 86 risk-reward concept, 229 risk-taking behaviors, 86 risk-taking theory, 6 risk-tolerance, 230 “Rule of Law” indicator, 262 and SM performance, 267, 274 Sarbanes Oxley Act (SOA), 265 Save for Tomorrow−, 109–110 “Sensorama”, 157 Shanghai stock market index, 16 SIGGRAPH event, 57 Social biases, 234 cycle effect, 197 inclusion, 71 influences, 112 interaction, 178 movements, 71 risk, 4 sex-based division of labor, 66 Social Security Act (1987), 102 South Asia, 262, 269 WGIs and stock market activity in, 272 South Korea, herd behavior in, 179 Standard and Poor’s 500 index (S&P500 index), 30–31, 35, 38–39 Stock market performance (SM performance), 266 components of discriminant government governance models for monitoring, 276–277 relationship with control of corruption, 266 relationship with government effectiveness, 264 relationship with political stability, 263–264 relationship with regulatory quality, 265 relationship with rule of law, 265 relationship with voice and accountability, 263 Stock markets, 262 development, 278 sentiment, 263 Sub-Saharan Africa, 262, 269 WGIs and stock market activity in, 272 Sustainable development, 66, 71 Sustainable development goals (SDG), 67 TAIE X closing index, 16 Takagi–Sugeno–Kang Fuzzy Logic system, 15 Terrorism attack effect on stock indices, 264 Theory of the Leisure Class, The, 173 Traditional behavioral models in finance, 79 Traditional economics, 205 theories, 100 Traditional finance, 79 criticism, 79–80 models, 78 Tunisian Stock Exchange, 87–88 Turkey, 66 fixed exchange rate regime in, 164 historical dynamics of cooperatives in, 67–68 Statistical Institute data, 66 sustainable economic development, 69 Turkish stock market, 34 women’s cooperatives course in, 68–70 Turkish Cooperatives Strategy and Action Plan (2012–2016), 68 Typeform©; tool, 230 United Kingdom stock market indices (UK stock market indices), 31 United States Stock Exchange, 30 Urla Women’s Initiative Production and Operation Cooperative, 73–74 VAR-GARCH method, 32, 34 Vector Error Correction Model (VECM), 168 VECM–based Granger causality test results, 168 Visa International and MasterCard (1960), 140–141 “Voice and Accountability” indicator, 262, 278 and SM performance, 263, 273 Volatility diffusion index, 33 Volatility spillover, 30 effect of Asia’s five EMs, 33 conditional correlation from diagonal BEKK model, 41 correlation between return series, 38 data, 35 descriptive statistics, 38 effects, 37 methodology, 35–37 price and return series, 35 residual diagnostics, 41 return and, 33 review of literature, 31–34 test, 31 Who Wants to be a Millionaire TV show, 206, 208 Women Effort Evaluation Foundation (KEDV), 70 Women’s cooperatives, 66 course in Turkey, 68–70 historical dynamics of cooperatives in Turkey, 67–68 as tool of employment policy, 70–74 Women’s Cooperatives Communication Network, 69 Workplace automatic-enrolment systems, 107 World Governance Indicators (WGIs), 262 co-integration regression, 269–274 data and variables, 266–267 dimensions, 262 methodology, 267–268 model, 266 robustness test using discriminant analysis, 274–275 and stock market performance, 262–266 Z-score model, 274–278 Book Chapters Prelims Chapter 1 Risk and Control in Consumer Behavior: A Discussion Chapter 2 Using Artificial Intelligence Techniques for Economic Time Series Prediction Chapter 3 Volatility Spillovers between BIST100 Index and S&P500 Index Chapter 4 Brand Reputation and Its Influence on Consumers’ Behavior Chapter 5 An Investigation of Augmented Reality Applications from the Perspectives of Brand Trust and Purchase Intentions of Customers Chapter 6 Women’s Cooperatives as a Tool of Employment Policy in Turkey Chapter 7 The Impact of Financial Literacy on Cognitive Biases of Individual Investors Chapter 8 Retirement Planning: A Literature Review Chapter 9 A Comparative Survey Over Time between Cash and Cashless Payments in Poland Chapter 10 Marketing Communications and Experiential Marketing in the Context of Augmented Reality Chapter 11 Exports, Imports, and the Exchange Rate: A Causality Analysis for Turkey (2004–2017) Chapter 12 Herd Behavior in the Borsa Istanbul Chapter 13 Factors Affecting Internet Banking Preferences and Their Relation to Demographic Characteristics Chapter 14 Who Wants to be a Millionaire? A Behavioral Economy Analysis Chapter 15 Herd Behavior and Its Effects on the Purchasing Behavior of Investors Chapter 16 Retirement Planning by Maltese Nationals: A Study of Influential Factors Chapter 17 How Does Governance Help World Stock Market Development? Index
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