A Review of Current Practices for Evaluating Causal Models in Organizational Behavior and Human Resources Management Research

Medsker, Gina J.; Williams, Larry J.; Holahan, Patricia J.

doi:10.1177/014920639402000207

Cited by 547 publications

(210 citation statements)

References 60 publications

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“…The study adapted the two-stage approach of assessing the measurement model before the structural model, which has been widely accepted in prior studies (e.g., Medsker, Williams, & Holahan 1994;Zattoni, Gnan, & Huse 2012). Exploratory Factor Analysis (EFA) (i.e., principal axis factoring with Oblique factor rotation) and Confirmatory Factor Analysis (CFA) were first conducted to examine the reliability, validity, and goodness of fit for the measurement model.…”

Section: Overview Of the Analysismentioning

confidence: 99%

The Influence of Financial Risk Tolerance on Investment Decision-Making in a Financial Advice Context

Nguyen¹,

Gallery²,

Newton³

2016

AABFJ

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Client risk tolerance is universally assessed in the advisory process to help financial advisers provide suitable advice that assists clients in their investment decision-making. Although there is a well-established literature on risk tolerance and decision-making, little is known about financial risk tolerance and its influence on investor decisions in the financial advice context. Thus, the purpose of this study is to examine this influence with a focus on the key expected risk tolerance determinants: client financial literacy, trust in the financial advice service, and relationship length with the service. A new theoretical model and related hypotheses were proposed and tested using survey data from financial adviser clients in Australia (N=538). Results revealed a positive relationship between client risk tolerance and investment decision-making. Further, client trust and relationship length with the service were found to be positively associated with client financial literacy and risk tolerance. These findings, which provide a more comprehensive understanding of how risk tolerance and its antecedents influence client decisions, have the potential to improve advice in the financial services industry. KeywordsRisk tolerance, individual investment decisions, client-adviser relationship, financial advice context, financial planning AbstractClient risk tolerance is universally assessed in the advisory process to help financial advisers provide suitable advice that assists clients in their investment decision-making. Although there is a well-established literature on risk tolerance and decision-making, little is known about financial risk tolerance and its influence on investor decisions in the financial advice context. Thus, the purpose of this study is to examine this influence with a focus on the key expected risk tolerance determinants: client financial literacy, trust in the financial advice service, and relationship length with the service. A new theoretical model and related hypotheses were proposed and tested using survey data from financial adviser clients in Australia (N=538). Results revealed a positive relationship between client risk tolerance and investment decisionmaking. Further, client trust and relationship length with the service were found to be positively associated with client financial literacy and risk tolerance. These findings, which provide a more comprehensive understanding of how risk tolerance and its antecedents influence client decisions, have the potential to improve advice in the financial services industry. JEL Classification: D14

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Section: Overview Of the Analysismentioning

confidence: 99%

The Influence of Financial Risk Tolerance on Investment Decision-Making in a Financial Advice Context

Nguyen¹,

Gallery²,

Newton³

2016

AABFJ

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“…Traditionally, two statistics have been used to compare the fit of two nested models: the likelihood-ratio test (LRT) statistic (Neale & Cardon, 1992) and the Akaike information criterion (AIC; Akaike, 1987;Medsker, Williams, & Holahan, 1994). The LRT is obtained by comparing the −2 log-likelihood (−2 LL) of a comparison model to the −2 LL of a nested (reduced) model.…”

Section: Statistical Analysesmentioning

confidence: 99%

Genetic and environmental bases of childhood antisocial behavior: A multi-informant twin study.

Baker

Jacobson

Raine

et al. 2007

Journal of Abnormal Psychology

147

115

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Genetic and environmental influences on childhood antisocial and aggressive behavior (ASB) during childhood were examined in 9-to 10-year-old twins, using a multi-informant approach. The sample (605 families of twins or triplets) was socioeconomically and ethnically diverse, representative of the culturally diverse urban population in Southern California. Measures of ASB included symptom counts for conduct disorder, ratings of aggression, delinquency, and psychopathic traits obtained through child self-reports, teacher, and caregiver ratings. Multivariate analysis revealed a common ASB factor across informants that was strongly heritable (heritability was .96), highlighting the importance of a broad, general measure obtained from multiple sources as a plausible construct for future investigations of specific genetic mechanisms in ASB. The best fitting multivariate model required informant-specific genetic, environmental, and rater effects for variation in observed ASB measures. The results suggest that parent, children, and teachers have only a partly "shared view" and that the additional factors that influence the "rater-specific" view of the child's antisocial behavior vary for different informants. This is the first study to demonstrate strong heritable effects on ASB in ethnically and economically diverse samples. Keywords antisocial behavior; aggression; genes; environment Why do some children grow up to be prosocial, law-abiding individuals, whereas others engage in patterns of disruptive, defiant, and delinquent behavior, even falling into the criminal justice system well before reaching adulthood? A plethora of studies have investigated the etiology of such individual differences, with abundant evidence demonstrating the importance of both social circumstances and biological risk factors in antisocial behavior across the life span (Baker, 1999;Raine, 1993Raine, ,2002Raine, Brennan, Farrington, & Mednick, 1997;Stoff, Breiling, & Maser, 1997). Among these risk factors, genetic and environmental influences have been of considerable interest and are likely to play a key role in our understanding of aggression and other antisocial behaviors and, thus, our ability to avert them.

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“…Cronbach's Alpha was used to reinforce the construct validity of the selected measures, parameter estimation and model validation tests were conducted, and several indices were www.ieeca.org/journalused to assess the fit of the measurement model (Diamantopoulos and Singuaw, 2000;Medsker et al, 1994). In our analysis, we focused on goodness of fit index (GFI), adjusted GFI (AGFI) (whose values from .85 to .90 are considered acceptable (Medsker et al, 1994)), and non-normed fit index (NNFI), whose values should be close to 1 for a good fit of the model (Diamantopoulos and Singuaw, 2000). We also examined the root mean square error of approximation (RMSEA), which should be below .08 for an acceptable fit (Diamantopoulos and Singuaw, 2000).…”

Section: Pilot Test Of Questionnairementioning

confidence: 99%

Antecedents to Export Performance and How Italian and Slovanian SME's Innovate During Times of Crisis

Massaro

Rubens

Bardy

et al. 2017

JEECAR

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This paper explores how small and medium enterprises (SMEs) operating in Northern Italy and Slovenia used their innovative potential to expand business across the border while their home markets suffered from the great recession that started in 2007. The background of the study is an analysis of the antecedents to export performance and internationalization, which specifically asked whether innovating incrementally or innovating radically contributes to export performance in foreign markets and how this ultimately interacts with strategic considerations and the propensity to take risks, during times of economic risks. The findings of the study showed that export performance is positively influenced by incremental innovation and risk preference, and that there is a relationship between innovation and export performance. These findings contribute to the question whether classical internationalization theories such as the Uppsala Internationalization Model and the Innovation-related Model, can be applied in contingency situations of economic crisis.

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A Review of Current Practices for Evaluating Causal Models in Organizational Behavior and Human Resources Management Research

Cited by 547 publications

References 60 publications

The Influence of Financial Risk Tolerance on Investment Decision-Making in a Financial Advice Context

The Influence of Financial Risk Tolerance on Investment Decision-Making in a Financial Advice Context

Genetic and environmental bases of childhood antisocial behavior: A multi-informant twin study.

Antecedents to Export Performance and How Italian and Slovanian SME's Innovate During Times of Crisis

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