Personal safety has had a renewed focus throughout the COVID-19 pandemic, which has led to behavioral change. The adoption of E-wallets facilitates social distancing and thereby helps prevent the spread of the COVID-19 virus. This paper aims to investigate the potential for consumers’ continued usage of an E-wallet service through an integrated framework based on two established models: the Health Belief Model (HBM) and Technology Continuous Theory (TCT). An electronic survey was distributed to a sample of 1080 individuals from academic society in three different Hungarian universities who had used an electronic wallet during the pandemic COVID-19. Structural equation modelling (SEM) was applied in the study and explained the 55.9% variance in consumers’ continuous intention towards E-wallet usage. This study found that while the COVID-19 pandemic strongly influenced the current use of e-wallets; the pivotal factor affecting their continued use is based on consumer self-efficacy. The study has both short and long-term implications; in the short-term, decisionmakers should utilize health threat constructs (as an element of the protective behaviors taken during the COVID-19 pandemic) to motivate consumers to use E-wallets; in the longer-term, banks should develop further strategies that encourage consumer loyalty regarding E-wallets by reassuring customers that these financial services achieve the value and benefits that they expect, resulting in self-efficacy.
Organizations, such as the World Health Organization, encouraged consumers to use contactless payment methods instead of payment methods such as cash, which can be carriers of the SARS-2 virus. This study aims to evaluate factors that influence Hungarian Generation X’s behavioral intentions to use mobile payment services during the pandemic. We conducted an electronic questionnaire-based survey among 1120 Generation X individuals. Using structural equation modeling to analyze the study’s conceptual model, our results confirm that perceived COVID-19 risk, perceived usefulness, and subjective norms significantly influence Hungarian Generation X’s behavioral intentions to use mobile payment services. Moreover, perceived usefulness mediates the relationship between perceived ease of use and behavioral intention to use mobile payment systems. Overall, our results show that the model of perceived COVID-19 risk, perceived usefulness, subjective norms, and perceived ease of use explains 62.9% of the variance in intention to use mobile payment systems. Our study contributes to the technology acceptance model and highlights its effectiveness in explaining the behavioral intention to adopt mobile payments during the COVID-19 pandemic.
This research contributes to the existing corporate governance (CG) and social and environmental accountability (SEA) literature by exploring the impact of CG mechanisms (board independence, board size, CEO duality, and board gender diversity) on Chinese firms’ environmental performance, sustainability performance, and environmental information disclosures (EID). Furthermore, the investigation consequently ascertains the amount to which the CG–SEA connection is influenced by CEO qualities. Using a dynamic model of a SysGMM regression model, we found that board size, independence, and gender diversity in board and CEO duality are all favorably connected to Chinese enterprises’ environmental performance over a window of 10 years (2010–2019). Additionally, our findings imply that the analyzed CEO characteristics positively moderate the relationship between CG and SEA. Our findings have significant consequences for all stakeholders, including environmentalists, corporate regulators, CEOs, policymakers, and regulators.
The world experienced significant changes in its social and economic lives in 2020–21. Major stock markets experienced an immediate decline. This paper attempts to examine the impact of COVID-19 on stock market performance as well as to identify the differences between the responses of ESG stocks and normal stocks to pandemic conditions in the Arab region. Daily time series for three years between March 2019 and March 2021 were collected for the S&P Pan Arab Composite index and S&P/Hawkamah ESG Pan Arab Index. We used a generalized autoregressive conditional heteroscedasticity (GARCH) model to measure market shocks and a non-linear autoregressive distributed lagged (NARDL) regression model to display the relationship between COVID-19 measurements and the performance of stock indexes. The findings suggest that the volatilities of ESG portfolios and conventional ones were equally affected in the pre-COVID period. However, in the post-COVID period, the magnitude of volatility in the ESG stock index was significantly less compared to that of the conventional stock index. The results also revealed that in the ESG market, shock tended to remain for a shorter period. Furthermore, the ESG index was not affected by the number of confirmed cases and deaths. However, evidence of asymmetric long-run cointegration existed between the S&P index and number of cases and deaths. Increases in the numbers of cases and deaths caused a decline in market index, whereas the reverse trends were observed in the retreat of the pandemic.
The pre-eminence of Islamic finance from the perspective of economic growth has been a long-standing debate. In recent decades, there has been a paradigm shift from interest-based banking to Islamic financial system. This study intends to examine the dynamic interaction of Islamic financial depth (IFD), Islamic financial intermediation (IFI), and asset quality with economic growth in a dual banking system. The paper employs autoregressive distributive lag regression (ARDL), error correction model (ECM) and Granger causality to examine the long and short run linkage by using the quarterly data of Pakistan from 2005 to 2019. The authors run two models to analyze the relative importance of financial depths (Islamic and conventional), financial intermediation (Islamic and conventional), and asset quality of both financial systems. A long-run relationship flowing from finance to growth in both Islamic and conventional finance models has been observed in our study. Furthermore, the findings recommend that strong financial intermediation plays an imperative role in driving economic growth by both financial sectors. The presence of a higher degree of Islamic financial assets in the economy contributes towards economic growth in the short-run. The results show that asset quality possibly plays an important intervening role in the overall finance-growth nexus.
Decreasing trends in birth rates in developed countries during the past decades, which threaten the sustainability of their populations, raise concerns in the areas of employment and social security, among others. A decrease in willingness to bear children has been examined in the international literature from several (biological, socio-cultural, economic, and spatial, etc.) aspects. Among these, the question of the effectiveness of fiscal incentives has been raised, with arguments that these are positive, but not significant, to birth rates; our study also concludes this. In Hungary, from 2010 onwards, the government has introduced very high tax allowances for families and, from 2015, has provided direct subsidies for housing purposes, all within a framework of a new family policy regime. This paper presents an evaluation of family policy interventions (e.g., housing support, tax allowances, other child-raising benefits), with the conclusion that fiscal incentives cannot be effective by themselves; a sustainable level of birth rates can only be maintained, but not necessarily increased, with an optimal design of family policy incentives. By studying the Hungarian example of pro-birth policies there is shown to be a policy gap in housing subsidies.
Analyzing the financial benefit of marketing is still a critical topic for both practitioners and researchers. Companies consider marketing costs as a type of investment and expect this investment to be returned to the company in the form of profit. On the other hand, companies adopt different innovative strategies to increase their value. Therefore, this study aims to test the impact of marketing investment on firm value and systematic risk. To do so, data related to four Arabic emerging markets during the period 2010–2019 are considered, and firm share price and beta share are considered to measure firm value and systematic risk, respectively. Since a firm’s ownership concentration is a determinant factor in firm value and systematic risk, this variable is considered a moderated variable in the relationship between marketing investment and firm value and systematic risk. The findings of the study, using panel data regression, indicate that increasing investment in marketing has a positive effect on the firm value valuation model. It is also found that the ownership concentration variable has a reinforcing role in the relationship between marketing investment and firm value. It is also disclosed that it moderates the systematic risk aligned with the monitoring impact of controlling shareholders. This study provides a logical combination of governance–marketing dimensions to interpret performance indicators in the capital market.
The aftermath of the COVID-19 pandemic is not limited to human lives and health sectors. It has also changed social and economic aspects of the world. This study investigated the Islamic stock market’s reaction and changes in volatility before and during this pandemic. The market model of event study methodology was employed to analyze Islamic stock market reactions in nine different markets around the globe. To examine changes in volatility and persistence of risk, the generalized autoregressive conditional heteroscedasticity (GARCH) method was used. Nine Islamic stock indices were selected for this study from the Thomson Reuters data stream. The results suggest that, in the short run, the Islamic Australian stock index and Islamic GCC stock index remained stable for the first 15 days following news of the pandemic. The Islamic stock indexes of Qatar, UAE, ASEAN, MENA, MENASA, and Bahrain were significantly affected by the outbreak in the short-term. On the other hand, the volatility of Islamic stock indices was substantially amplified after the global health crisis was declared by the WHO. Moreover, volatility shocks tended to persist for a longer period after COVID-19.
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