This study examines the impact of overconfidence bias, herding bias, and risk perception on stock investment decisions. This study uses explanatory research with a quantitative approach. The population in this study is the Generation Z Society, the generation born between 1997-2012 in Malang City who invests in the capital market. The sampling technique used in the study was purposive sampling. Data collection was used through surveys using questionnaires, and the use of Likert scales to test instruments. The data were analyzed using Structural Equation Model Partial Least Square (SEM-PLS) modeling. The results of this study indicate that overconfidence bias and herding bias contained in investors can reduce the quality of investment decisions. In addition, overconfidence bias and herding bias can also reduce investors' risk perception. The perception of risk in investors can influence investment decisions and increase the benefits of the investment process. Risk perception can mediate between overconfidence bias and herding bias on investment decisions. The results of this study suggest that investors should minimize the formation of bias when making investment decisions and diversify their portfolios to minimize risk.
PurposeIntegrating the conservation of resources theory, Hofstede's national culture theory and the cognitive-motivational-relational theory of emotions, the authors propose that power distance (as a moderator) and emotional exhaustion (as a mediator) play a role in the relationship between workplace incivility, emotional exhaustion and job embeddedness.Design/methodology/approachThe data were collected in two stages using an online survey of 404 employees from three sectors, including hospitality, banking and manufacturing, in Indonesia. The authors tested a moderated mediation model using Hayes' macro PROCESS version 3.5.FindingsWorkplace incivility contributes to emotional exhaustion, which predicts job embeddedness. Emotional exhaustion also contributes to job embeddedness. In the moderation model, the authors found that the effect of workplace incivility on emotional exhaustion was more substantial for employees with high perceived power distance. Furthermore, power distance also played a moderating role in the relationship between emotional exhaustion and job embeddedness.Practical implicationsSince workplace incivility and job embeddedness differ across cultures, the results of this study contain practical management implications for Indonesian settings, especially the hospitality, manufacturing and banking sectors. The authors provide practical management implications for redesigning organizational culture to help employees avoid uncivil interactions in the workplace. The authors also provide implications concerning strategic managerial directions to improve communication and supervisors' skills at all levels of management.Originality/valueThis study is the first to introduce power distance as a complementary explanation for the relationship between workplace incivility, emotional exhaustion and job embeddedness while focusing on an Asian developing country.
Indonesia has the world's largest Muslim population (86.7%), but it lags behind even Muslim minority countries in Halal tourism. The Indonesian Ministry of Tourism has 10 Halal Priority destinations in 2018, but domestic and foreign tourists are unaware. This study examined how Muslims' perceptions of tourism attributes affect their experience and behavior. This research was quantitative. The author surveyed Muslims who vacationed in Indonesia and the surrounding region. Data collection involved purposive sampling. Smart PLS software was used to test assumptions using Partial Least Square -Structural Equation Modeling. This study can help tourism stakeholders develop Muslim-friendly destinations. Through this research, tourism stakeholders can develop future strategies to serve Muslim tourists. The theoretical framework has never been tested, especially on Muslim-friendly tourism in Indonesia. This research contributes to the development of knowledge as an alternative model solution to increasing Muslim tourists' behavioral intentions. This research found that halal or Muslim tourism attributes and Muslim experience quality boost Muslim-friendly travel destinations' behavioral intention.
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