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Search Results (159)

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Keywords = Millennial generation

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24 pages, 439 KiB  
Article
Socio-Technical Antecedents of Social Entrepreneurial Intention: The Impact of Generational Differences, Artificial Intelligence Familiarity, and Social Proximity
by Rob Kim Marjerison, Jin Young Jun and Jong Min Kim
Systems 2025, 13(7), 616; https://doi.org/10.3390/systems13070616 - 21 Jul 2025
Viewed by 297
Abstract
This study examines the factors that influence individuals’ intentions to create socially oriented ventures, emphasizing the joint role of social and technical systems. Grounded in Socio-Technical Systems Theory, the research investigates how perceptions of social legitimacy and technological infrastructure shape social entrepreneurial intention [...] Read more.
This study examines the factors that influence individuals’ intentions to create socially oriented ventures, emphasizing the joint role of social and technical systems. Grounded in Socio-Technical Systems Theory, the research investigates how perceptions of social legitimacy and technological infrastructure shape social entrepreneurial intention (SEI) and how these effects are conditioned by generational cohort, familiarity and intent to use artificial intelligence (AI), and social proximity to entrepreneurial peers. Based on survey data from 388 respondents in China who expressed interest in both entrepreneurship and social problem-solving, the study applies a conditional process structural equation model to capture the complex interplay between external systems and individual-level readiness. The results show that both social and technical systems significantly and positively influence SEI, particularly among younger generations (Millennials and Generation Z). Furthermore, AI familiarity and social proximity operate as moderated mediators, differentially transmitting and shaping systemic influences on SEI. These findings advance the theoretical understanding of socio-technical determinants of social entrepreneurship and offer practical insights for fostering inclusive, generationally responsive entrepreneurial ecosystems. Full article
(This article belongs to the Section Systems Practice in Social Science)
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27 pages, 1606 KiB  
Article
Exploring Chinese Millennials’ Purchase Intentions for Clothing with AI-Generated Patterns from Premium Fashion Brands: An Integration of the Theory of Planned Behavior and Perceived Value Perspective
by Xinjie Huang, Chuanlan Liu, Jiayao Wang and Jingjing Zheng
J. Theor. Appl. Electron. Commer. Res. 2025, 20(2), 141; https://doi.org/10.3390/jtaer20020141 - 11 Jun 2025
Viewed by 1289
Abstract
Premium fashion brands are increasingly adopting Generative Artificial Intelligence (GenAI) to reduce costs and enhance creativity. However, consumers have mixed perceptions of clothing with AI-generated patterns (CAGPs) launched by premium fashion brands, especially in online shopping contexts where consumers cannot examine physical products [...] Read more.
Premium fashion brands are increasingly adopting Generative Artificial Intelligence (GenAI) to reduce costs and enhance creativity. However, consumers have mixed perceptions of clothing with AI-generated patterns (CAGPs) launched by premium fashion brands, especially in online shopping contexts where consumers cannot examine physical products firsthand. This study integrates the Theory of Planned Behavior (TPB) with Customer Perceived Value (CPV) to investigate Chinese Millennials’ attitudes and purchase intentions toward online purchases of CAGPs launched by premium fashion brands. Using a purposive sampling approach, the study collected 471 valid responses from Chinese Millennials. Structural equation modeling (SEM) was then employed to test the proposed model and hypotheses. The results reveal that perceived brand design effort and perceived price value are primary drivers of purchase intention for CAGPs from premium fashion brands, while perceived aesthetic value significantly shapes consumer attitudes. The subjective norm and attitude positively influence purchase intention. This study sheds light on the roles of aesthetic, emotional, monetary and social factors in driving purchase intention, offering practical suggestions for premium brands’ product design and marketing strategies. Full article
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24 pages, 1196 KiB  
Article
Playing with Numbers: The Social and Behavioural Impacts of Using a Card Game to Teach Business Metrics
by Ruth Smith and Elaine Conway
Behav. Sci. 2025, 15(6), 761; https://doi.org/10.3390/bs15060761 - 1 Jun 2025
Viewed by 743
Abstract
This study investigated the social and behavioural impacts of employing a card game designed to support the teaching of business metrics through active peer-to-peer engagement, contrasting with traditional passive lectures. Grounded in Bandura’s Social Learning Theory (SLT), the study used a multiple-methods approach [...] Read more.
This study investigated the social and behavioural impacts of employing a card game designed to support the teaching of business metrics through active peer-to-peer engagement, contrasting with traditional passive lectures. Grounded in Bandura’s Social Learning Theory (SLT), the study used a multiple-methods approach including student feedback, a focus group, and an interview. A novel card game, Metrics Masters©, was played by 390 students across a range of educational levels and settings. The research found that the game effectively introduced and reinforced their understanding of key business metrics, while simultaneously enhancing social interaction, teamwork, and problem-solving among Millennial and Generation Z students. The findings underline the efficacy of game-based learning and its close alignment with the SLT principles of observation, imitation, and social interaction. The theoretical contribution of this paper lies in its explicit application and extension of SLT within the context of business education, illustrating empirically how social interactions facilitated by game-based activities significantly enhance learning outcomes. Furthermore, this paper contributes to educational practice by providing robust evidence that game-based learning methods can effectively address educational challenges heightened by the COVID-19 pandemic, offering actionable strategies for educators aiming to foster both academic and social development among students. Full article
(This article belongs to the Special Issue Benefits of Game-Based Learning)
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16 pages, 272 KiB  
Article
Generational Preferences and Willingness to Pay for Antioxidant-Rich Pomegranates: Insights into Consumer Behavior and Market Potential
by Anna Uliano and Marco Lerro
Agriculture 2025, 15(11), 1162; https://doi.org/10.3390/agriculture15111162 - 28 May 2025
Cited by 1 | Viewed by 328
Abstract
This study investigates consumer preferences and willingness to pay (WTP) for antioxidant-rich pomegranates, focusing on the roles of product attributes and generational differences. A survey of 3019 Italian consumers assessed consumption habits, perceived barriers, and WTP for antioxidant-enriched pomegranates. A Best–Worst Scaling (BWS) [...] Read more.
This study investigates consumer preferences and willingness to pay (WTP) for antioxidant-rich pomegranates, focusing on the roles of product attributes and generational differences. A survey of 3019 Italian consumers assessed consumption habits, perceived barriers, and WTP for antioxidant-enriched pomegranates. A Best–Worst Scaling (BWS) analysis was used to identify key product attributes, and generational segmentation highlighted differences in consumer behavior. The results reveal a strong preference for locally sourced pomegranates and a high valuation of health-related attributes, particularly antioxidant content. However, several consumption barriers emerged, including taste preferences, peeling difficulty, and limited product availability. While older generations, especially Baby Boomers, prioritize antioxidants for their health benefits, younger generations (Gen Z and Millennials) showed the highest WTP for antioxidant-enriched pomegranates, likely influenced by novelty seeking and engagement with food trends. These findings suggest that marketing strategies should emphasize both local origins and health benefits. From a policy perspective, supporting local agriculture and promoting the nutritional value of enriched foods could enhance consumer acceptance and expand the market potential. Full article
21 pages, 903 KiB  
Article
The Effect of Green Marketing Mix on Outdoor Brand Attitude and Loyalty: A Bifactor Structural Model Approach with a Moderator of Outdoor Involvement
by Xiaoze Liu and Daehwan Kim
Sustainability 2025, 17(9), 4216; https://doi.org/10.3390/su17094216 - 7 May 2025
Viewed by 1228
Abstract
This study aims to explore the impact of the green marketing mix (at the macro and micro level) implemented by outdoor brands on the attitudes and brand loyalty of Millennial and Generation Z (MZ generation) consumers toward these outdoor brands. Additionally, it seeks [...] Read more.
This study aims to explore the impact of the green marketing mix (at the macro and micro level) implemented by outdoor brands on the attitudes and brand loyalty of Millennial and Generation Z (MZ generation) consumers toward these outdoor brands. Additionally, it seeks to examine the moderating effect of MZ generation consumers’ involvement in outdoor activities on the relationship between the green marketing mix (macro level) and brand attitudes. Using a cross-sectional research design, a quota random sampling method was employed to extract a sample of 500 MZ generation consumers who had purchased an outdoor brand at least once in South Korea. To evaluate the reliability and validity of the measurement model, a confirmatory factor analysis was conducted, followed by a bifactor structural model analysis with a moderator of outdoor involvement to test the hypotheses. The results indicate that the green marketing mix implemented by outdoor brands had a significantly positive effect on consumers’ attitudes toward outdoor brands. Specifically, green products, green pricing, and green promotion positively influenced consumers’ attitudes toward outdoor brands. Furthermore, the level of involvement in outdoor activities significantly moderated the effect of the green marketing mix on brand attitudes. Notably, the higher the MZ generation’s involvement in outdoor activities, the stronger the impact of the green marketing mix on their attitudes toward outdoor brands. Finally, brand attitudes were found to have a significant positive effect on brand loyalty. Based on these findings, meaningful theoretical and practical implications are discussed. Full article
(This article belongs to the Special Issue Sustainable Consumer Behavior and Brand Management)
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22 pages, 290 KiB  
Article
Millennial Leaders’ Preferences for Leadership Development: A Qualitative Analysis
by Carolyn Easton and Renier Steyn
Adm. Sci. 2025, 15(4), 135; https://doi.org/10.3390/admsci15040135 - 4 Apr 2025
Viewed by 1314
Abstract
Currently the largest workforce in the workplace, the millennial generation is perceived as being different to the preceding generations in the workplace, namely, baby boomers and generation X. Millennials are also seen as the leadership pipeline, yet leadership development that meets the needs [...] Read more.
Currently the largest workforce in the workplace, the millennial generation is perceived as being different to the preceding generations in the workplace, namely, baby boomers and generation X. Millennials are also seen as the leadership pipeline, yet leadership development that meets the needs of this generation appears to be absent. The objective of this study was to explore what millennial leaders are looking for concerning leadership development and training. Semi-structured interviews were conducted with 12 millennial leaders employed in one large financial services organisation in South Africa. Content analysis was used to analyse the qualitative data collected, and coded themes were generated. The participants’ responses favoured more specific leadership development, such as structured mentorship programmes, experiential learning or on-the-job training, soft skills training, and digital online training with remote access. These findings, coupled with a close affinity shown for the more modern empowering and transformational leadership styles, closely align with the literature and affirm the need for a specialised and tailor-made leadership development strategy for millennial leaders. Organisations should take heed of what millennial leaders are looking for to become effective leaders in filling the leadership pipeline for the workplace. This research largely affirms international research trends that specify millennials as a unique group and the importance of revising traditional leadership development programmes for this generation as leaders. Full article
(This article belongs to the Section Leadership)
19 pages, 1037 KiB  
Article
Effects of Organizational Culture and Pay Levels on Employee Retention: Focused on Generational Difference
by Myeongju Lee, Kyetaik Oh and Hyunok Kim
Adm. Sci. 2025, 15(4), 125; https://doi.org/10.3390/admsci15040125 - 28 Mar 2025
Viewed by 1677
Abstract
Research on generational differences in the workplace is important as it leads to more effective recruitment, retention, and employee wellbeing in terms of human resource management. This study investigates whether there are differences in perceptions of turnover intention, pay level, and organizational culture [...] Read more.
Research on generational differences in the workplace is important as it leads to more effective recruitment, retention, and employee wellbeing in terms of human resource management. This study investigates whether there are differences in perceptions of turnover intention, pay level, and organizational culture between different generational groups. First, this study identifies the relationship between pay level and turnover intention. Second, it confirms the moderating effect of organizational culture on the relationship between pay level and turnover intention. Finally, a three-way interaction analysis was conducted to determine whether these relationships differed between Baby Boomers, Gen Xers, and Millennials. As a result of the empirical analysis, the millennial generation showed higher turnover intention than other generations. It was confirmed that the effect of hierarchical culture was greater than that of pay level on the decrease in turnover intention in the millennial generation than in other generations. In other words, it was found that as the hierarchical culture weakened, the turnover intention of Millennials decreased more significantly than that of other generations. Based on these findings, we propose recommendations for understanding Millennials in the workplace and managing generational diversity. Full article
(This article belongs to the Section Organizational Behavior)
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24 pages, 2087 KiB  
Article
Revealing Factors Influencing mHealth Adoption Intention Among Generation Y: An Empirical Study Using SEM-ANN-IPMA Analysis
by Ashikur Rahman and Jia Uddin
Digital 2025, 5(2), 9; https://doi.org/10.3390/digital5020009 - 21 Mar 2025
Cited by 1 | Viewed by 3081
Abstract
Mobile Health (mHealth) technologies are transforming healthcare by making it more accessible, efficient, and patient-centric. This study investigates the factors influencing Millennial’s mobile health adoption intention (mHAI). We propose a research model based on the integrated model of the Unified Theory of Acceptance [...] Read more.
Mobile Health (mHealth) technologies are transforming healthcare by making it more accessible, efficient, and patient-centric. This study investigates the factors influencing Millennial’s mobile health adoption intention (mHAI). We propose a research model based on the integrated model of the Unified Theory of Acceptance and Use of Technology—UTAUT and the health belief model—HBM. A cross-sectional study was carried out employing purposive sampling to enlist Generation Y (born between 1981 and 1996) and 220 valid questionnaires were collected. We employed structure equation modeling partial least square (SEM-PLS) along with artificial neural network (ANN) and importance–performance map analysis (IPMA) to analyze our model. The research findings revealed that performance expectancy is the most influential factor, while effort expectancy showed no significant association with mHAI. Theoretical and managerial implications are offered to expand the literature on digital healthcare studies, indicating how healthcare providers in developing countries can attract their potential users. Full article
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16 pages, 215 KiB  
Article
Multicultural Preaching Across Generations: A Proposal for Effective Preaching to Young Generations in the Great Dechurching
by Jaewoong Jung
Religions 2025, 16(3), 381; https://doi.org/10.3390/rel16030381 - 17 Mar 2025
Viewed by 1006
Abstract
This study proposes multicultural preaching across generations as a means of effective preaching in the time of the Great Dechurching. Young generations, represented by Millennials and Generation Z, are the least religious of all age groups, showing the strongest intention to leave the [...] Read more.
This study proposes multicultural preaching across generations as a means of effective preaching in the time of the Great Dechurching. Young generations, represented by Millennials and Generation Z, are the least religious of all age groups, showing the strongest intention to leave the church. The author argues that the failure to form a Christian identity, rather than the church’s failure to adapt culturally, is the main cause of the Great Dechurching among young generations and that preaching to a generation-segregated congregation, tailored to a target generation, contributes to the failure of forming a Christian identity, as it obstructs the sharing of faith experiences intergenerationally. Based on empirical evidence from multiple surveys, I demonstrate that preaching is influential in the dechurching of young generations, and that the faith gap across generations, rather than the cultural gap, contributes to the dechurching of young generations. Then, by analyzing preaching models in relation to generation, the author points out the problems in generation-blind and -separated preaching and suggests multicultural preaching across generations as a desirable homiletical model for overcoming the dechurching of young generations by formulating a Christian identity through intergenerational conversations around faith. I describe this as conversational preaching that seeks mutual listening and learning based on equal and reciprocal relationships across generations, as well as the recognition of cultural differences across generations. Full article
(This article belongs to the Special Issue Preaching in Multicultural Contexts)
21 pages, 553 KiB  
Article
User-Generated Content and Its Impact on Purchase Intent for Tourism Products: A Comparative Analysis of Millennials and Centennials on TikTok
by Eva Correia Ramos and Célia M. Q. Ramos
Future Internet 2025, 17(3), 105; https://doi.org/10.3390/fi17030105 - 25 Feb 2025
Viewed by 3187
Abstract
In an increasingly technological society, online social networks are essential to support consumer purchasing decisions, primarily through User Generated Content (UGC). In this research, we look at the influence of UGC on purchase intent applied to the tourism product on the TikTok social [...] Read more.
In an increasingly technological society, online social networks are essential to support consumer purchasing decisions, primarily through User Generated Content (UGC). In this research, we look at the influence of UGC on purchase intent applied to the tourism product on the TikTok social network. In this sense, a survey was applied to TikTok users aged between 18 and 42 to compare their behaviour with that of the two generations: Millennials and Centennials. The results indicate a relationship of influence between credibility and the usefulness of information and between usefulness and social influence on the intention to buy tourism products and services. In addition, a comparison was made between the results of the sample of individuals belonging to the Millennial Generation and the sample of individuals belonging to the Centennial Generation, with the main discrepancy in the results being the relationship between the need for information and the usefulness of information. These insights pave the way for further research aimed at establishing more robust conclusions in this area. Full article
(This article belongs to the Special Issue Advances in Smart Environments and Digital Twin Technologies)
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17 pages, 10636 KiB  
Article
High-Resolution Reconstruction of Total Organic Carbon Content in Lake Sediments Using Hyperspectral Imaging
by Xuening Lin, Xin Zhou, Hongfei Zhao, Guangcheng Zhang, Yiyan Chen, Shiwei Jiang, Tao Zhan and Luyao Tu
Remote Sens. 2025, 17(4), 706; https://doi.org/10.3390/rs17040706 - 19 Feb 2025
Viewed by 767
Abstract
The total organic carbon (TOC) content in lake sediments is an effective archive indicating past climate changes. However, the resolution of the TOC record has generally been limited by factors such as subsampling intervals, hampering further comprehension of past climate change. Recently, hyperspectral [...] Read more.
The total organic carbon (TOC) content in lake sediments is an effective archive indicating past climate changes. However, the resolution of the TOC record has generally been limited by factors such as subsampling intervals, hampering further comprehension of past climate change. Recently, hyperspectral imaging technology has been increasingly employed to scan lake sediment cores, presenting new opportunities to reconstruct high-resolution sequences, but the reconstruction of long-term high-resolution TOC records using hyperspectral imaging and the climate implications have not been well studied. In this study, we scanned sedimentary cores from Wudalianchi Crater Lake in northeast China with a spatial resolution of 400 × 400 μm, utilizing visible and near-infrared (VNIR) hyperspectral imaging technology. Then, a partial least-squares regression (PLSR) model was constructed by comparing eight different preprocessing methods and optimally selecting the best spectral subset combined with a genetic algorithm (GA). Our analysis demonstrates that the PLSR model, constructed using 62 relevant bands selected by the Savitzky–Golay second derivative (D2) preprocessing method and GA, was the most reliable, with the validation set’s R-value reaching a high of 0.91 and RMSE as low as 1.18%. Notably, the spectral range of 656–669 nm showed a strong positive correlation with measured TOC, indicating its sensitivity for TOC estimation. Given this advantage, we reconstructed the TOC records of sediments from the Wudalianchi Crater Lake during the 38–13 ka BP period, which exhibited significant millennial-scale fluctuation events. These corresponded well with the millennial-scale events in pollen and TOC from Lake Sihailongwan, δ18O records of Greenland ice cores, and δ18O records from Asian stalagmites. Thus, the combination of hyperspectral imaging and the PLSR model is effective in reconstructing high-resolution TOC changes in lake sediments, which is essential for understanding climate change as well as carbon burial in lakes. Full article
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15 pages, 238 KiB  
Article
Investigating the Consumer Choices of Gen Z: A Sustainable Food System Perspective
by Ewa Halicka, Joanna Kaczorowska, Krystyna Rejman and Marta Plichta
Nutrients 2025, 17(3), 591; https://doi.org/10.3390/nu17030591 - 6 Feb 2025
Cited by 3 | Viewed by 6572
Abstract
Background/Objectives: Developing nutrition-oriented and more responsible consumer behaviors is crucial for the well-being of current and future generations. Food choice determinants and concerns of Gen Zs—also referred to as Post-Millennials, or Zoomers—were explored from a sustainable food system perspective to identify factors encouraging [...] Read more.
Background/Objectives: Developing nutrition-oriented and more responsible consumer behaviors is crucial for the well-being of current and future generations. Food choice determinants and concerns of Gen Zs—also referred to as Post-Millennials, or Zoomers—were explored from a sustainable food system perspective to identify factors encouraging young people to be on the front line of this much-needed transformation. Methods: Quantitative data were collected with the use of the CAWI method from 650 adults representing Generation Z living in Polish cities. Statistical analysis identified three consumer segments, and cluster (CL) means were statistically contrasted using a one-way ANOVA with Scheffé tests for post hoc comparisons. Results: The research results indicate that the key considerations of food choice in the studied Gen Z sample are taste, price, and health. External factors, such as social media influencers and consumer trends, play a relatively minor role in decision-making. Gen Zs were more aware of the link between their eating patterns and health than the link between their eating habits and the natural environment. Members of the biggest cluster (CL3), constituting 48.3% of the total sample, declared the highest level of agreement with statements referring to links between diet, environment, and health from the food system perspective. This most allo-centered (community-oriented, altruistic) consumer segment, differing significantly with gender to other CLs was more concerned about climate change and protecting the natural environment and open to changing its dietary habits. Conclusions: Implementing research-based policy measures focusing on Generation Z, especially young women, as potential leaders and drivers of food system change is recommended. Full article
(This article belongs to the Special Issue Transition towards Sustainable Healthy Diets: A Complex Journey)
38 pages, 1609 KiB  
Article
Advanced Technologies from and Through a Prototype Radio Lesson with Budding Journalists: The Views and Attitudes of Xers, Millennials, and Zoomers
by Constantinos Nicolaou
Appl. Sci. 2025, 15(2), 588; https://doi.org/10.3390/app15020588 - 9 Jan 2025
Viewed by 921
Abstract
In this research article, budding journalists’ views and attitudes toward a prototype radio lesson that was designed and implemented utilizing advanced technologies are explored. These budding journalists hail from Greece, were studying in higher education or adult education at the time of the [...] Read more.
In this research article, budding journalists’ views and attitudes toward a prototype radio lesson that was designed and implemented utilizing advanced technologies are explored. These budding journalists hail from Greece, were studying in higher education or adult education at the time of the survey, and belong to one of the three youngest generational cohorts within adults (i.e., 18 years old and older); Generation X where their members are now known as Xers, Generation Y where their members are already known as Millennials, and Generation Z where their members are also known as Zoomers—XYZ Generations. The survey’s research data were collected after six interactive teachings from and through advanced technologies, via a specially designed written questionnaire, as case study experiments that applied qualitative action research with quasi-experiments. Analysis, descriptive, and inductive statistics were then applied to them from and through Internet applications and services. This is essentially empirical qualitative research that incorporates the approach of the quantitative analysis process. The resulting survey findings and results mainly contribute to the quality of higher education and adult education, especially in the field of media studies. Likewise, they align with or confirm previous contemporary empirical studies and research papers on the genealogical characteristics, habits, and ethos of the XYZ Generations, and particularly regarding the similarities among Xers and Zoomers, as well as that Generation Z can also be characterized as a “Sound Generation”. An important conclusion of this research article is that the success of a lesson or even a lecture seems to depend (a) on the good design and/or development of the lesson plan itself, as well as (b) on the communication classroom where the educational praxis takes place. Finally, these survey findings and results are also considered encouraging and could be utilized (a) for any audiovisual-supported teaching–learning procedure for adult learners; (b) across various educational levels and disciplines; or even (c) for members other generational cohorts. Full article
(This article belongs to the Special Issue Advanced Technologies Applied in Digital Media Era)
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31 pages, 780 KiB  
Article
Creative Performance of Millennials and Generation Z: What Matters More, Intrinsic or Extrinsic Rewards?
by Shwetha M. Krishna and Somya Agrawal
Adm. Sci. 2025, 15(1), 11; https://doi.org/10.3390/admsci15010011 - 28 Dec 2024
Cited by 1 | Viewed by 10645
Abstract
Millennials and Gen Z now dominate the global workforce, each with distinct reward preferences influencing motivation and creativity. Understanding these distinctions is critical for improving employee retention and performance. This research aims to evaluate the efficacy of intrinsic and extrinsic rewards for both [...] Read more.
Millennials and Gen Z now dominate the global workforce, each with distinct reward preferences influencing motivation and creativity. Understanding these distinctions is critical for improving employee retention and performance. This research aims to evaluate the efficacy of intrinsic and extrinsic rewards for both cohorts. The main goals are to determine reward preferences, examine the mediation effects of moral importance of work and learning attitudes, and assess their impact on creative performance. Using online survey, data were collected from 319 individuals in India and analysed using confirmatory factor analysis and structural equation modelling. Results show that while intrinsic rewards were not significantly related to the moral importance of work for either generation, extrinsic rewards were linked to moral importance only for Gen Z. Extrinsic rewards also had no significant impact on learning attitudes for Gen Z, but they did for millennials. Additionally, the moral importance of work was unrelated to creative performance for millennials, but it had a significant impact on Generation Z. By examining these dynamics, this study aims to provide insights into generational shifts in workplace values in the Indian context, highlighting implications for employee’s creative performance that align with each generation’s unique priorities and ethical considerations. Full article
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20 pages, 784 KiB  
Article
Adapting the National Financial Capability Test to Address Generational Differences in Cognitive Biases
by Sergio Da Silva, Ana Paraboni and Raul Matsushita
Int. J. Financial Stud. 2024, 12(4), 124; https://doi.org/10.3390/ijfs12040124 - 11 Dec 2024
Cited by 3 | Viewed by 2008
Abstract
This study examined the influence of cognitive biases on financial literacy test outcomes across four generational groups: Gen Z, Millennials, Gen X, and Baby Boomers. Using the National Financial Capability Test and an online in silico experiment, we analyzed how cognitive biases influence [...] Read more.
This study examined the influence of cognitive biases on financial literacy test outcomes across four generational groups: Gen Z, Millennials, Gen X, and Baby Boomers. Using the National Financial Capability Test and an online in silico experiment, we analyzed how cognitive biases influence the likely responses of each generation. The results indicate that the current test format aligns more closely with Baby Boomers, who are less affected by certain biases but tend to exhibit resistance to new financial strategies. A key contribution of this research is the identification of generational bias profiles and actionable recommendations for tailoring financial literacy assessments to reflect these differences. Our approach not only advances behavioral finance literature but also introduces innovative methodology through AI-driven simulations, providing a replicable framework for exploring cognitive influences in decision-making. The findings underscore the need for tailored financial education programs that consider these cognitive biases, aiming to foster unbiased financial decision-making across age groups. Full article
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