Risky financial asset holding is arguably a desirable financial behavior that contributes to consumer financial wellbeing. However, studies about associations between consumer financial education and risky financial asset holding in China remain limited. To fill this gap, using data from the 2015 China Household Finance Survey, this study examined the association between financial education and risky financial asset holdings and explored its mediators. Results from Probit regressions showed that financial education was positively associated with the household risky financial asset holding. Further analyses based on the mediating model found that financial literacy, economic and financial information search, and risk tolerance were mediating factors in the association between financial education and risky financial asset holding. The results have policy implications for improving consumer financial education and financial market participation.

Drawing on social information processing theory and a career development perspective, we examined the effect of transformational leadership on the perceived overqualification via career growth opportunities, and how the supervisor–subordinate guanxi moderates the relationship between transformational leadership and perceived overqualification. We tested this proposal using three waves of lagged data collected from 351 company employees in the Yangtze River Delta region in China. The results revealed that transformational leadership had an indirect effect on perceived overqualification through career growth opportunities, and supervisor–subordinate guanxi moderated the positive association between transformational leadership and career growth opportunities. In addition, the mediating effect of transformational leadership on perceived overqualification through career growth opportunities was stronger when the level of supervisor–subordinate guanxi was high and weaker when it was low. The findings have theoretical and practical implications for reducing employees’ perceptions of overqualification in the organizational context.

Purpose Drawing on and extending the socially embedded model of thriving, this paper aims to investigate how and when customer participation promotes hospitality frontline employees’ engagement in extra-role service behavior. Design/methodology/approach A two-wave questionnaire survey was carried out among frontline service employees and their immediate supervisors in a four-star business hotel in Eastern China. Path analysis using Mplus 8.3 examined a multilevel moderated mediation model. Findings Customer participation has a positive effect on frontline employees’ experience of thriving, which in turn promotes their engagement in extra-role service behavior. Nevertheless, supervisors’ negative affect weakens the positive effect of customer participation. Practical implications Hotels could implement employee assistance programs, arrange training on emotional regulation and positive psychology and create a fun work environment to help alleviate supervisors’ experience of negative affect so as to lessen its adverse effect on frontline employees’ perception of customer participation. Originality/value First, this work is one of the few studies exploring how customer participation affects frontline employees’ well-being (in terms of thriving) and extra-role service behavior, which advances extant value co-creation literature. Second, the moderating role of supervisors’ negative affect enriches the limited understanding of when customer participation might not bring firm benefits. Third, by uncovering customer participation as an antecedent of employee thriving, this study extends thriving research that only attends to contexts located within organizations.

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Abstract. Drawing on equity theory and person–group fit theory, we examined the association between (in)congruence in employee and peer overqualification and perceived insider status. We further proposed that perceived insider status is related to employees’ organizational citizenship behavior (OCB). The results of multilevel polynomial regressions using data collected with 211 employees from 55 teams supported the hypothesized congruence effect. Specifically, employees’ perceived insider status was greater, and their OCB was maximized, when employees and their peers had congruent perceptions of their overqualification levels. Furthermore, when both employees and their peers perceived their overqualification levels as low, perceived insider status and OCB were higher than when both perceived their overqualification levels as high. These findings highlight the pivotal role of congruence between employee and peer perceptions of overqualification at work.