Purpose
The purpose of this paper is to investigate segmentations by finance-related attitudes and behavior of financial consumers in Switzerland and Vietnam.
Design/methodology/approach
The authors replicated the questionnaire measuring attitudes toward financial affairs as used in the study of Fünfgeld and Wang (2009). In order to extract factors and identify profiles of financial customers, the authors applied the same techniques including factor analysis and a two-step cluster analysis (Ward and K-means) to both samples. Linear regressions were used to examine the impact of socio-demographic variables.
Findings
Factor analysis reveals surprisingly similar underlying dimensions of financial attitudes and behavior for participants in both countries. The five clusters based on these dimensions exhibit strikingly similar characteristics. The authors also find that socio-demographic variables such as gender, age and education significantly vary across groups.
Research limitations/implications
There are small differences in the composition of the revealed dimensions between the two countries, mainly a mixture of intuitive decisions and free-spending aspects. Future research may investigate more countries with comparable samples to further test the reliabilities and validities of the scales.
Practical implications
The findings suggest that the instruments as developed by Fünfgeld and Wang (2009) can be used not only in highly developed Western markets but also in non-Western and emerging markets. Such instruments can be very useful for offering financial advice based on market segmentation in a global market.
Originality/value
The study provides empirical evidence on universal segmentation variables that reflect financial consumers’ psychological traits and attitudes toward saving and spending. Furthermore, the study stresses the need for a broad use of those variables when studying consumer decision-making in international financial markets.
Integrating the relational approach and social exchange theory, the authors conceptualize the quality of leader‒member and team member exchanges as mediators for understanding the role of transformational leadership in employee proactive behaviors (e.g., voice, taking charge, and innovative behaviors). The results based on data collected from 352 full-time employees working in pharmaceutical companies in Vietnam largely support the proposed theoretical framework and shed light on the mechanism through which leadership style influences employee proactivity in a manufacturing context. Using the results, the authors discuss research limitation and, managerial implications, and suggest future research directions for the relationship between leadership style and employee proactive behavior.
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