Unveiling the Impact of Psychological Traits on Innovative Financial Decision-making in Small Tourism Businesses

Abstract

Understanding factors affecting innovative financial decision-making involves the usage of more than one theory-driven model including those related to psychological behaviour (e.g. theory of planned behaviour). This study validates a conceptual framework extending the traditional financing model (TFM) and behavioural financial decision (BFD) to explain innovative financial decision-making utilising both qualitative and quantitative approaches. Based on a sample of 140 small tourism businesses, employing structured equation modelling, the findings reinforce the importance of the behavioural approach on innovative financial decision-making in small tourism businesses. The findings does not only make a respectable contribution the field, but also offer a practical evidence for the adaptation of the theory of planned behaviour in developing countries.

Mediating agricultural entrepreneurship through embracing innovative technology: a tale from small rural enterprises in an emerging economy

“…This study examines farmers' potential behavior, attitudes and trust towards the adoption of innovative emergent technologies, thereby integrating the TPB and ToT. Prior studies have applied the TPB and ToT within different settings and disciplines (Baixauli-Soler et al, 2021;Hagger et al, 2022;Sandhu and El-Gohary, 2022). Farmers in the Punjab are characterized by their close-knit communities, where information flows and trust are key resources.…”

“…3.1.1 Behavioral attitudes and intention. The TPB envisages that behavior is predicted by the behavioral intentions of individuals to determine their proximate or immediate behavior and decisions (Ajzen, 1991;Sandhu and El-Gohary, 2022). Behavioral intentions reflect motivations and cognitive planning for behavior.…”

Sociocultural factors and social entrepreneurial intention during the COVID-19 pandemic: Preliminary evidence from developing countries

“…To establish the theoretical underpinning of this study, we mobilized the theory of planned behavior (TPB) (Ajzen, 1991) and the entrepreneurial event model (Shapero & Sokol, 1982). These theoretical backgrounds received prominence and credibility to explain the formation of intention throughout many research areas, such as technology acceptance (e.g., Fink et al, 2022;Marangunić & Granić, 2015), consumer services (e.g., Paul et al, 2016;Timpanaro & Cascone, 2022), supply chain management (e.g., Kamble et al, 2019;Shou et al, 2022), family business (e.g., Graves et al, 2022;Singh et al, 2021), product innovation (e.g., Kim et al, 2019;Tóth et al, 2020), small business (e.g., Harrison et al, 1997;Sandhu & El-Gohary, 2022), and absorptive capacity (e.g., Chao & Yu, 2022;Mo et al, 2022). More interestingly, these foundations have recently emerged as a cornerstone in investigating the COVID-19 influence on intention research across several fields, including psychology (e.g., Islam et al, 2020;Shanka & Gebremariam Kotecho, 2021);tourism (e.g., Jeon et al, 2022;Xu et al, 2022); sustainability (e.g., Cahigas et al, 2022;Seong et al, 2021); and, more importantly, entrepreneurship (e.g., Lang et al, 2022;Li et al, 2022;Seah, 2021).…”

Controlling Shareholder Pledges and Cost of Equity Capital: Analyzing Empirical Evidence from A-Share Listed Companies

“…H1: Controlling shareholder pledges increases the equity capital cost of listed companies Fan and Wong (2005) believed that a high-quality external audit could effectively identify the encroachment of controlling shareholders, help reduce the probability that corporate financial information is distorted by management errors, improve the quality of corporate information disclosure, and constrain earnings management of listed companies (Tang Wei et al, 2019). In addition, a highquality external audit enables the listed companies to have a better information environment so that other major shareholders can identify the opportunistic behaviors of the controlling shareholders at a lower cost (Wang and Jiang, 2017;Sandhu and El-Gohary, 2022;Huang et al, 2018;Li et al, 2020). Therefore, a high-quality external audit releases the signal of earnings quality, which indicates that the external supervision organization approves the operating results of the enterprise.…”