Search Results (854)

Growing concerns about sustainability highlight the need to understand not only rational but also neurocognitive mechanisms that shape consumer decisions. This study examines how discrete emotions—such as empathy, moral satisfaction, and responsibility—interact with reflective cognitive control to influence green purchase intention, with neural loyalty functioning as a mediating mechanism. Grounded in dual-process theory, the proposed model is empirically tested through PLS-SEM using data from 276 consumers in Romania, Poland, and the Czech Republic, actively engaged with ecological products. The results demonstrate that both emotional and cognitive dimensions significantly predict purchase intention, while neural loyalty partially mediates these relationships, transforming temporary reactions into stable behavioral patterns. These findings suggest that bridging the intention–behaviour gap in sustainable consumption requires the integration of affective engagement, rational evaluation, and loyalty consolidation. The study contributes to sustainable marketing literature by positioning neurocognitive drivers as key antecedents of pro-environmental behaviour and by offering practical insights for designing interventions that effectively convert green intentions into consistent actions. All structural relationships were statistically significant (p < 0.05), confirming the robustness of the proposed model. Full article

We develop a four-dimensional nonlinear model of a reflexive financial system by extending the Xin–Zhang system with a self-reinforcing sentiment channel. The model comprises four interacting variables—interest rate, investment demand, price index, and market confidence—and incorporates reflexivity to capture feedback between economic fundamentals and investor sentiment. A Lyapunov function shows that the system is well-posed and dissipative, ensuring bounded trajectories. We then analyse the dynamics using standard nonlinear-dynamics tools. Reflexive confidence sustains chaotic motion, inhibits convergence to equilibria, and produces irregular, aperiodic bifurcation patterns; sentiment-driven feedback destabilises a dissipative macroeconomic model and sustains volatility, as evidenced by a positive largest Lyapunov exponent and Kolmogorov–Sinai entropy greater than zero. Using U.S. monthly consumer sentiment and the S&P 500, we observe co-movement, a medium-horizon lead of sentiment, and a nonlinear persistence map $w_{t+1}=f\left(w_t\right)$—stylised facts consistent with the model’s self-reinforcing confidence channel. Full article

In this study, I used regression analysis to examine the relation between stock return dispersion from the market returns and market portfolio returns as a measure of herding behaviour in opportunistic insider traders from 2014 to 2024 in the USA. Opportunistic insiders place a trade in the same calendar month for at least three consecutive years. I found no evidence of statistically significant and negative relationship between return dispersions and market returns, either absolute or squared. This result implies that there is no herding behaviour. The results are robust to large stock price movements and changes in market volatility. My results are important for regulators and investors. Future research may involve the herding behaviour of insiders who follow trading plans. Full article

This study investigates the relationship between the Business Confidence Index (BCI) and the volatility of stock returns in South Africa using quantile regression and GARCH (1,1) models across the Financial Services, Industrial, and Resources sectors of the Johannesburg Stock Exchange. The results reveal that BCI significantly influences stock return volatility, particularly in upper quantiles, suggesting heightened sensitivity during periods of elevated market activity. Sectoral analysis using GARCH (1,1) shows that higher business confidence reduces volatility in the financial sector, exhibits a muted effect in the industrial sector, and positively correlates with volatility in the resource sector. The results underscore the asymmetric and sector-specific nature of sentiment effects. These findings support behavioural finance theories and emphasize the need for differentiated policy strategies to manage market risks in emerging economies. Full article

Background: Beverage intake is a consequential yet underappreciated driver of health in Mediterranean settings. Comparative evidence for Spain and Italy based on harmonised measures is scarce. This study addresses that gap by profiling beverage portfolios and their sociodemographic correlates in parallel adult samples from both countries. Methods: We conducted a cross-sectional analysis of adults in Spain (n = 483) and Italy (n = 403) using aligned, validated instruments (NutSo-HH; NutSo-HH-Ita). Outcomes were water (Wtr), sugar-sweetened soft drinks (Sfd), juice (Juc), energy drinks (End), coffee (Cff), alcohol (Alc), and episodes of intoxication (Gtd). Associations were assessed via non-parametric tests, multivariable linear models, and an EBIC-selected Gaussian graphical model (GGM). Main results: Italians reported higher Alc and Gtd; Spaniards reported higher Sfd and Juc. Wtr was comparable across countries, and Cff differences were marginal. Age and sex emerged as the most consistent correlates (older age and male sex with higher Alc; younger age with higher Sfd), whereas education and income were not stable determinants. The GGM suggested behavioural clustering of Sfd–Juc–End, with weak partial correlations for other beverages after adjustment. Implications: Distinct country profiles imply differentiated priorities. In Spain, interventions could prioritise reducing sugar-sweetened beverage intake among younger adults through age-targeted primary care counselling, mandatory water (and unsweetened milk) availability in schools, tiered excise taxes on sugar-sweetened drinks, and restrictions on child- and youth-directed marketing of high-sugar beverages. In Italy, primary care and community health services could routinely screen adults for risky alcohol use and deliver brief, culturally attuned advice that promotes lower-risk patterns of wine consumption during meals. Given the cross-sectional design, self-report measures, and non-probabilistic sampling, findings should be interpreted as context-sensitive markers rather than causal determinants; nevertheless, they highlight concrete prevention approaches and regulatory levers for each country’s beverage-related health risks. Full article

Beer consumption patterns are evolving, with gluten-free beers (GFBs) and low- and no-alcohol beers (NABLABs) exhibiting continuous growth, underpinned by health-conscious consumers, younger generations’ preference for moderate drinking, and a rising awareness of gluten intolerance. This study investigates whether online search behaviour reflects these market changes and anticipates future consumption trends. A combined methodological framework was applied, integrating time-series analysis of Google Trends data—based on a decomposition model with a five-year forecast—with descriptive and semantic insights from Search Engine Optimisation (SEO) techniques using the specialised SEOZoom platform. The statistical decomposition enabled the identification of long-term trends, cyclical variations, and seasonal patterns in user interest. Italy was selected as a case study, representing a market where these niche segments have grown considerably despite a traditionally limited craft beer culture. The results reveal a steady rise in online interest in both GFB and NABLAB; GFB searches are primarily linked to health and dietary concerns, whilst NABLAB queries encompass a broader set of topics, including physiology, legislation, and consumption contexts. The forecasts confirm the persistence of this positive trend over the next five years. The approach demonstrates the potential of integrating digital and statistical tools to monitor emerging consumption dynamics and guide strategic decisions in the beverage sector. Full article

Livestock farm biosecurity is crucial for animal health and economic sustainability, however uneven adoption/implementation across diverse livestock species and production systems persists. To improve uptake of biosecurity, it is necessary to identify critical economic behavioural, and systematic barriers, and to outline practical drivers. Perceived high costs, labour/time burdens, and uncertain benefits can suppress private investment, while poorly designed indemnities can create moral hazard. Conversely, targeted subsidies, risk-based insurance, and market standards (e.g., certification and procurement) can incentivise implementation. Knowledge and trust gaps, especially in smallholder and backyard settings, further limit compliance. Participatory, and context-specific training led by field veterinarians consistently outperforms top–down messaging, with effective element including: simple, low-cost “easy wins”, tiered checklists, and decision-support tools to help embed routines and demonstrate the value of biosecurity. Integrating clear cost–benefit evidence, incentive-based tools, and co-designed training can transform biosecurity from a perceived practical and cost burden into a resilient, profitable practice that delivers public-good benefits for animal health, trade, and One Health across Europe and beyond. Full article

Studies examining emoji applications in digital marketing and advertising are characterized by considerable heterogeneity in their theoretical orientation, methodologies, and contextual factors. A domain-based systematic literature review with the Theory-Context-Characteristics-Methodology (T-C-C-M) framework following PRISMA guidelines was conducted to answer how emojis are researched in marketing, and a bibliometric review was constructed to shed light on important aspects. We found a field growing in volume yet immature, with a diversity of theories and methodologies used to explore the multiple roles of emojis. An analysis of explicit and implicit theories identified that almost a quarter of studies are atheoretical, and the mostly used theories are the Emotions as Social Information Theory (EASI) and the emotional contagion theory. Emojis are mainly researched in social media and in the travel and food industry. The most common methodological categories are experimental designs, with emojis used as independent variables in simple designs. Despite the focus on short-term outcomes (engagement, purchase intention), little attention was given to advertising and to field experiments, constraining ecological validity. Our study reveals the need for a robust theoretical framework that can explain the multiple functions of emojis, and EASI emerged as the leading theory to be tested more extensively. Full article

This study aimed to analyse young consumers’ behaviour in Poland toward the consumption of plant-based beverages as milk alternatives. The sensory analysis included oat, buckwheat, cashew, almond, soy, pea, rice, coconut, hazelnut, and macadamia nut beverages and their mixtures. Quantitative analysis of sensory desirability and sensory profiling were employed to evaluate plant-based beverages. The study was conducted among young people (aged 18–35) who declared a vegan or omnivorous diet. It was found that the most frequently consumed beverages included oat and soy beverages, both among vegan and traditional (omnivorous) young groups. A significantly lower frequency of plant-based beverage consumption was confirmed in the group of people with an omnivorous diet. The taste characteristics in plant-based beverages are a key factor in driving sensory desirability among young consumers. Analysis of the influence of respondents’ declared diet and gender revealed no significant differences in the desirability of the taste of the plant-based beverages. The consumers rated the coconut, pea, macadamia, oat, and rice–coconut beverages as the most desirable in terms of taste. The lowest taste desirability was confirmed for the soy drink despite its high reported consumption. The importance of this study focused on the local market development in vegan food, as well as its potential due to further consumer expectations. Full article

The rapid adoption of electric vehicles (BEVs) has increased the need to understand how fast-charging strategies influence long-distance travel times under real-world conditions. While most manufacturers specify maximum charging power and standardized driving ranges, these figures often fail to reflect actual highway operation, particularly in adverse weather. This study addresses this gap by analyzing the fast-charging behaviour, net battery capacity and highway energy consumption of 62 EVs from different market segments. Charging power curves were obtained experimentally at high-power DC stations, with data recorded through both the charging infrastructure and the vehicles’ battery management systems. Tests were conducted, under optimal conditions, between 10% and 90% state of charge (SoC), with additional sessions performed under both cold and preconditioned battery conditions to show thermal effects on the batteries’ fast-charging capabilities. Real-world highway consumption values were applied to simulate 1000 km journeys at 120 km/h under cold (−10 °C, cabin heating) and mild (23 °C, no AC) weather scenarios. An optimization model was developed to minimize total trip time by adjusting the number and duration of charging stops, including a 5 min detour for each charging session. Results show that the optimal charging cutoff point consistently emerges around 59% SoC, with a typical deviation of 10, regardless of ambient temperature. Charging beyond 70% SoC is generally inefficient unless dictated by charging station availability. The optimal strategy involves increasing the number of shorter stops—typically every 2–3 h of driving—thereby reducing total trip. Full article

The transition toward sustainability in the electric power sector, driven by increasingly renewable integration, has amplified the need to understand complex market dynamics. This study addresses a critical gap in the existing literature by presenting a systematic and reproducible methodology for profiling generating-unit operators’ macro-behaviour in the Italian Ancillary Services market (MSD). Focusing on the Northern zone (NORD) during the pivotal period of 2022–2024, a stability-driven k-means clustering framework is applied to a dataset of capacity-normalized features from the day-ahead market (MGP), intraday market (MI), and MSD. The number of clusters is determined using the Gap Statistic with a 1-SE criterion and validated with bootstrap stability (Adjusted Rand Index), resulting in a robust and reproducible 13-group taxonomy. The use of up-to-date data (2022–2024) enabled a unique investigation into post-2021 market phenomena, including the effects of geopolitical events and extreme price volatility. The findings reveal clear operator-coherent archetypes ranging from units that mainly trade in the day-ahead market to specialists that monetize flexibility in the MSD. The analysis further highlights the dominance of thermoelectric and dispatchable hydro technologies in providing ancillary services, while illustrating varying degrees of responsiveness to price signals. The proposed taxonomy offers regulators and policymakers a practical tool to identify inefficiencies, monitor concentration risks, and inform future market design and policy decisions. Full article

This study investigates whether and how corporate commitment to environmental, social and governance (ESG) performance can mitigate involutionary competition in China’s consumer electronics manufacturing industry. By constructing a quantifiable index of involutionary competition intensity and matching it with corporation-level ESG scores, we document a statistically significant negative association between ESG performance and the degree of involutionary competition. Mechanism analysis reveals that ESG mitigates involutionary competition through two primary channels: (1) differentiation strategies that reduce price-based competition and product homogeneity, and (2) market-order regulation that curbs opportunistic behaviour and raises R&D efficiency. A modest price increase is shown to be revenue-enhancing; moreover, random-forest simulations indicate that counter-involutionary competition efforts amplify the market-share gains from cooperative R&D expenditures, accelerating post-adjustment revenue growth. This transition generates simultaneous increases in corporate profits and corporation value, breaking the previous price ceiling and establishing a sustainable development loop. The findings provide actionable insights for shifting the industry from low-level rivalry to sustainable value creation. Full article

In a significant transition from classical theories of efficient markets and perfectly rational investors, the recent literature has increasingly acknowledged the importance of the human element and external market conditions in decision-making. However, the application of adaptive market frameworks in the property sector remains underexplored. This gap is particularly pronounced in the commercial property market, where structural inefficiencies, such as information asymmetry and illiquidity, amplify decision-making complexity. Given that investor rationality tends to diminish as uncertainty and complexity increase, this study explored how private commercial property investors adapt their strategies amid heightened uncertainty. The perspectives of seven experienced property experts were thematically analysed to highlight recurring patterns, which were then integrated into a conceptual mind map. The findings reveal that while economic fundamentals are the constant drivers of capital allocation decisions, investors process these signals through the lens of adaptive behaviour based on intuition, experience, risk perceptions, and herding. This relationship becomes more pronounced under conditions of heightened uncertainty, where investors seek to supplement available information with sentiment due to weaker signals and declining confidence in fundamentals. Sustainable investing and technology integration also emerged as core considerations, but interest among private investors is subdued due to ambiguous value propositions regarding the long-term economic benefits of a green premium. These findings offer practical insights into how external market conditions influence property investment decisions and provide a platform for operational models of investment decision-making that integrate adaptive behaviour. Full article

In the contemporary structure of political economy, one of the leading actors is Non-Governmental Organisations (NGOs). Some of these organisations, to promote their goals, often engage in public disputes with enterprises that have publicly traded shares on the stock market. Consequently, they serve as channels for negative information relevant to these enterprises that falls within their discourse. In this paper, we examine the impact on the share price volatility of these enterprises due to the public debate initiated by an NGO aiming to change the enterprise’s behaviour on a particular matter (e.g., using more eco-friendly materials). Data from Greenpeace’s Detox Campaign are used to examine its influence on several enterprises. Using GARCH, OLS, and Difference-in-Differences models, we find that volatility increased significantly during the campaign for firms like Burberry (13.71%), Adidas (5.40%), and VFC Group (3.96%). After companies complied, volatility declined, notably in Burberry (−16.84%), Marks & Spencer (−3.24%), and VFC Group (−4.88%). These results highlight how NGO activism can heighten investor uncertainty in the short term but stabilise markets once companies respond, offering key insights for policymakers on the financial impact of civil Society’s engagement. Full article

Global modern renewable energy based on geothermal, wind, solar, and marine resources has grown rapidly over the last decades despite low energy density, intermittent supply, and other qualities inferior to those of fossil fuels. What is the explanation for this growth? The main drivers of growth are assessed using economic theories and verified with statistical data. From the neo-classic viewpoint that focuses on price substitutions, the growth can be explained by the shift from energy-intensive agriculture and industry to labour-intensive services. However, the energy resources complemented rather than substituted for each other. In the evolutionary idea, investments supported by policies enabled cost-reducing technological change. Still, policies alone are insufficient to generate the growth of modern renewable energy as they are inconsistent across countries and in time. From the behavioural perspective that is preoccupied with innovative entrepreneurs, the value addition of electrification can explain the introduction of modern renewable energy in market niches, but not its fast growth. Instead of these mono-causalities, the growth of modern renewable energy is explained by technology diffusion during the pioneering, growth, and maturation phases. Possibilities that postpone the maturation are pinpointed. Full article