PurposeThis study analyzes how cultural and social values shape specific attitudes toward credit cards and indebtedness and consumption behavior.Design/methodology/approachThe study uses a panel dataset for a selection of European Union countries from 2003 to 2016. The relation between credit card use and social and cultural attitudes is constructed by controlling for past habits in payment behavior and cross-substitution with alternative payment instruments by employing a dynamic panel data analysis based on the system Generalized Method of Moments (GMM) estimator.FindingsThe total value of credit card payments positively correlated with values emphasizing risk-taking attitudes. When analyzing the propensity of using these instruments for larger purchases, the level of trust is the most relevant predictor. However, the results seemed region-specific with some variables correlating consumption behavior with credit card usage depending on the political and the economic background of the country. Moreover, risk-taking attitudes prevail when they are related to the extent to which countries rely on cash as a preferred payment instrument. Also, credit card usage is mainly explained by past habits and the economic context.Originality/valueThe model expands on previous credit card transaction research by including an additional set of cultural values able to account for the complex nature of payment instruments and their effects on indebtedness and consumption behavior.

This paper aims to analyze the determinants of cash usage in a selection of European Union (EU) countries over the 2003–2016 period, based on a set of technological, socioeconomic, and socio-cultural indicators and cost components. Our results reveal the existence of both common and region-specific determinants for the EU advanced and Central and Eastern European (CEE) countries. In both groups cash usage is determined by payment system characteristics. Additionally, in the EU advanced countries cash usage can also be explained by the level of economic development and income inequalities and proliferation of Internet. In contrast, cash usage in CEE countries is negatively associated with consumer confidence and is inversely related to the technological progress, expressed in terms of mobile users.

Organizational restructuring involving mass layoffs is an integral part of the corporate strategic landscape. While aimed at increasing a company’s efficiency and profitability, it often falls short of desired objectives, partly due to negative consequences for remaining employees, the so‐called “survivors”. As workforce reductions may jeopardize a company’s legitimacy, we develop a model that links the change in post‐restructuring employee productivity to the factors that help mitigate legitimacy issues. By using a comprehensive and innovative dataset of restructuring announcements reported by European companies over the post‐crisis period, we analyze the moderating effect of the restructuring extent on the role of corporate social responsibility (CSR) and economic justification as legitimacy tools in counterbalancing the negative effects of job reduction measures. Our findings reveal that in reactive layoffs, induced by financial difficulties, initially high levels of CSR help lessen negative effects of restructuring on employee productivity in low‐extent restructuring events; while in high‐extent restructuring events employee productivity is supported by continuing investments in CSR. We provide evidence that both the level and dynamics of CSR practices play a significant role, and their effect on employee performance is conditional on the restructuring context.