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Keywords = multi-group analysis (MGA)

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33 pages, 843 KB  
Article
Public Acceptance Mechanisms of Digital Interactive Media in Urban Cultural Heritage Communication: An Empirical Study Based on Sustainability-Stratified Symbolic Contexts and Multi-Group SEM
by Jiajia Zhao, Lixian Xie and Ziyang Huang
Sustainability 2026, 18(9), 4511; https://doi.org/10.3390/su18094511 (registering DOI) - 3 May 2026
Abstract
In the context of the increasing digitalization of urban cultural heritage communication, public acceptance, identification, and dissemination of symbolic cultural heritage content exhibit pronounced structural differences across sustainability levels. Taking Xuzhou—a national historical and cultural city in China—as the empirical context, this study [...] Read more.
In the context of the increasing digitalization of urban cultural heritage communication, public acceptance, identification, and dissemination of symbolic cultural heritage content exhibit pronounced structural differences across sustainability levels. Taking Xuzhou—a national historical and cultural city in China—as the empirical context, this study conceptualizes cultural heritage as symbolic carriers of cultural meaning and constructs a sustainability-stratified analytical framework. By integrating the Theory of Planned Behavior (TPB) and Cultural Identity (CI) theory, and incorporating Perceived Sustainability of Cultural Heritage (PSC) and Digital Interactive Media Participation (DMP), the study develops a comprehensive model of public communication acceptance mechanisms. Based on 931 valid questionnaires collected from local residents and visitors, exploratory and confirmatory factor analyses, structural equation modeling (SEM), and permutation-based multi-group analysis (MGA) are employed to examine both overall behavioral pathways and cross-group structural heterogeneity across symbolic heritage contexts with different sustainability tiers. The results indicate that: (1) PSC significantly influences communication intention through attitude, subjective norms, and perceived behavioral control, with cultural identity playing a central mediating role; (2) digital interactive media participation primarily functions as a contextual enabler, significantly moderating the relationship between perceived behavioral control and communication intention; and (3) substantial structural differences exist across sustainability tiers, with medium-sustainability symbolic contexts demonstrating the strongest psychological activation effects in attitude formation, identity internalization, and intention conversion. Theoretically, this study extends the integrative application of TPB and cultural identity theory by embedding sustainability perception as an upstream cognitive trigger and repositioning cultural identity as a mediating mechanism within symbolic heritage communication processes. Methodologically, it establishes a systematic “sustainability evaluation–stratified modeling–multi-group comparison” analytical framework. Practically, the findings provide empirical guidance for differentiated communication strategies and digital media interventions tailored to symbolic cultural heritage systems. Full article
(This article belongs to the Section Tourism, Culture, and Heritage)
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31 pages, 471 KB  
Article
Institutional Governance for Sustainable Utilisation of Healthcare IoT Technologies: Moving Beyond Technology Acceptance to Conditions of Use
by Yuyao Lang, Aini Aman, Kamarul Baraini Keliwon, Syaima Adznan and Hui Zhang
Healthcare 2026, 14(9), 1225; https://doi.org/10.3390/healthcare14091225 - 2 May 2026
Abstract
Background/Objectives: The digital transformation of healthcare has become a key component of building resilient and sustainable health systems. However, the long-term sustainability of digital health technologies depends not only on user acceptance but also on the institutional governance conditions that shape how these [...] Read more.
Background/Objectives: The digital transformation of healthcare has become a key component of building resilient and sustainable health systems. However, the long-term sustainability of digital health technologies depends not only on user acceptance but also on the institutional governance conditions that shape how these technologies are implemented and utilised in practice. This study examines how institutional factors shape the sustainable utilisation patterns of Internet of Things (IoT) technologies in regulated healthcare environments, with hospital IoT-based asset management systems, a mature and widely deployed use case in China’s public hospitals, providing the empirical context for the investigation. Methods: Drawing on institutional theory and the Technology Acceptance Model (TAM), we conceptualise user perceptions as behavioural micro-foundations through which institutional conditions influence technology utilisation. A survey of 293 healthcare professionals from two large public hospitals in China was analysed using Structural Equation Modelling (SEM), incorporating mediation and Multi-Group Analysis (MGA). Results: The results demonstrate that technical compatibility (TC) significantly enhances perceived ease of use (PEU) (β = 0.40), while organisational support (OS) positively influences both perceived usefulness (PU) (β = 0.35) and PEU (β = 0.30). Conversely, regulatory compliance (RC) negatively affects PU (β = −0.25) and PEU (β = −0.20), revealing a tension between accountability requirements and operational efficiency. The model explains between 58% and 67% of the variance in key constructs. Conclusions: Overall, the findings indicate that sustainable utilisation patterns depend on alignment between technological capabilities and institutional governance conditions, with user perceptions operating as behavioural micro-foundations through which institutional effects are transmitted. By integrating institutional theory with technology acceptance research, this study contributes a governance perspective for understanding sustainable digital transformation in healthcare systems and provides practical insights for designing interoperable, compliant, and supportive digital health infrastructures to enhance hospital operational efficiency and quality of care. Full article
(This article belongs to the Section Healthcare and Sustainability)
28 pages, 1291 KB  
Article
Bridging the Green Purchasing Gap: Drivers of Willingness to Pay for Green Cosmetics Across Consumer Groups
by Uturestantix Uturestantix, Ari Warokka and Aina Zatil Aqmar
Adm. Sci. 2026, 16(5), 213; https://doi.org/10.3390/admsci16050213 - 30 Apr 2026
Viewed by 159
Abstract
Growing consumer awareness of environmental and health issues has increased demand for sustainable products, yet a persistent gap remains between positive attitudes and actual purchasing behavior. This study addresses inconsistent findings in prior literature regarding the effects of psychological drivers on willingness to [...] Read more.
Growing consumer awareness of environmental and health issues has increased demand for sustainable products, yet a persistent gap remains between positive attitudes and actual purchasing behavior. This study addresses inconsistent findings in prior literature regarding the effects of psychological drivers on willingness to pay a premium for green products. Drawing on the Theory of Planned Behavior and value-based perspectives, this study examines how environmental concern, health consciousness, and consumer innovativeness influence purchase intention and willingness to pay a premium (WTP) for green cosmetics. Data were collected from 872 respondents in Indonesia and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with multi-group analysis (MGA) to capture demographic heterogeneity. The results show that all three drivers significantly influence purchase intention, which in turn affects WTP and acts as a partial mediator. Demographic differences further moderate several relationships, highlighting heterogeneity in green consumer behavior. This study contributes by integrating psychological drivers, behavioral mechanisms, and demographic heterogeneity into a unified framework to explain willingness to pay for green cosmetics. The findings offer practical insights for developing targeted strategies to promote sustainable consumption in emerging markets. Full article
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28 pages, 913 KB  
Article
Unpacking the Cognitive Architecture of Consumer Resistance to Prefabricated Interior Decoration Systems in China: An Empirical Study Based on Innovation Resistance Theory
by Yu Zhao, Chun Zhu and Wei Wei
Systems 2026, 14(5), 475; https://doi.org/10.3390/systems14050475 - 28 Apr 2026
Viewed by 158
Abstract
Despite strong policy support for prefabricated interior decoration systems (PIDSs) in China, residential consumer uptake remains limited. Existing research has focused primarily on adoption drivers or industry-side promotion; in contrast, in this study, Innovation Resistance Theory (IRT) is employed to investigate the functional [...] Read more.
Despite strong policy support for prefabricated interior decoration systems (PIDSs) in China, residential consumer uptake remains limited. Existing research has focused primarily on adoption drivers or industry-side promotion; in contrast, in this study, Innovation Resistance Theory (IRT) is employed to investigate the functional and psychological barriers to consumer acceptance in the Chinese residential market. Utilizing data from 476 Chinese consumers, partial least squares structural equation modeling (PLS-SEM) is applied to test a hierarchical mediation framework. The results demonstrate that functional obstacles, specifically risk and usage barriers, do not exhibit a direct association with resistance intention; rather, a significant indirect effect via perceived value and image is observed. Notably, the tradition barrier emerged as the most dominant predictor of resistance, reflecting a deep-seated cultural path dependency on traditional masonry methods and a perceived loss of construction rituals that disrupts system adoption. Furthermore, multi-group analysis (MGA) reveals a paradox of experience: while uninitiated users are resistant based on abstract stereotypes, those with traditional renovation experience are driven by status quo bias, and early adopters of PIDSs are resistant due to negative disconfirmation regarding usage friction and functional inflexibility. These findings suggest that, to achieve system equilibrium, the industry must transition from an industry-centric narrative to one focused on premium quality and user-centric design. Practical implications include the need to de-stigmatize prefabrication as precision manufacturing and to align policy and market interventions more closely with the concerns of individual end-consumers in order to improve residential market acceptance. Full article
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39 pages, 2167 KB  
Article
Understanding FinTech Adoption Drivers for Digital Financial Sustainability in Urban and Rural MSMEs
by Budi Setiawan, Sasiska Rani, Emilda Emilda, Firmansyah Arifin and Dinarossi Utami
Risks 2026, 14(4), 77; https://doi.org/10.3390/risks14040077 - 1 Apr 2026
Viewed by 1201
Abstract
This study investigates the determinants of FinTech adoption and its role in supporting financial inclusion among micro, small, and medium enterprises (MSMEs) in South Sumatra, Indonesia. The analysis applies an extended Unified Theory of Acceptance and Use of Technology (UTAUT) framework that incorporates [...] Read more.
This study investigates the determinants of FinTech adoption and its role in supporting financial inclusion among micro, small, and medium enterprises (MSMEs) in South Sumatra, Indonesia. The analysis applies an extended Unified Theory of Acceptance and Use of Technology (UTAUT) framework that incorporates digital financial literacy, artificial intelligence literacy, green self-identity, and perceived green finance. Data from 632 MSMEs, comprising 377 rural and 255 urban enterprises, were analyzed using partial least squares structural equation modeling (PLS-SEM), multi-group analysis (MGA), and importance performance map analysis (IPMA). The results indicate that facilitating conditions represent the most influential determinant of FinTech adoption among rural MSMEs, while effort expectancy emerges as the dominant factor in urban enterprises. FinTech adoption also significantly strengthens both FinTech continuance intention and financial inclusion across the two groups, highlighting the role of digital financial technologies in promoting inclusive economic development. In addition, the IPMA shows that rural MSMEs place strong emphasis on facilitating conditions as the key driver of FinTech adoption, whereas urban MSMEs prioritize effort expectancy. By extending the UTAUT framework with sustainability-related constructs, this study provides new evidence on how digital financial innovation can support inclusive growth and contribute to Sustainable Development Goal 8. Full article
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31 pages, 702 KB  
Article
Analyzing Cryptocurrency Exchange Platform Performance: An Application of the DeLone & McLean Information Systems Success Model
by Berto Usman, Ibnu Rohmadi, Mesut Doğan, Jintanee Ru-Zhue and Somnuk Aujirapongpan
J. Risk Financial Manag. 2026, 19(4), 248; https://doi.org/10.3390/jrfm19040248 - 31 Mar 2026
Viewed by 932
Abstract
Cryptocurrency trading platforms operate in highly volatile, technology-intensive, and risk-sensitive environments, yet empirical evaluations of their performance from an information systems perspective remain limited. Prior studies applying the DeLone and McLean Information Systems Success Model (ISSM) have largely focused on traditional e-commerce and [...] Read more.
Cryptocurrency trading platforms operate in highly volatile, technology-intensive, and risk-sensitive environments, yet empirical evaluations of their performance from an information systems perspective remain limited. Prior studies applying the DeLone and McLean Information Systems Success Model (ISSM) have largely focused on traditional e-commerce and e-learning contexts, leaving its applicability to cryptocurrency exchanges underexplored. This study addresses this gap by examining how system quality, information quality, and service quality influence system use, user satisfaction, and net benefits in cryptocurrency trading platforms. This study employs a quantitative research design using survey data collected from 389 active Binance users in Indonesia through purposive sampling. The proposed ISSM-based research model was analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) and Multi Group Analysis (MGA) to assess the relationships among system quality, information quality, service quality, system use, user satisfaction, and perceived net benefits. The findings indicate that four of the nine hypothesized relationships are statistically supported. System quality emerges as the most influential determinant of both system use and user satisfaction, highlighting the importance of platform reliability, performance, and usability. Information quality also demonstrates a significant effect, whereas service quality exhibits a limited direct influence on user outcomes. Overall, system use and performance-related factors play a more critical role in driving perceived net benefits than service-related attributes. This study extends the DeLone and McLean ISSM to the context of cryptocurrency trading platforms and demonstrates its relevance in high-risk, blockchain-based financial environments. The results offer theoretical insights by refining the relative importance of ISSM constructs in fintech settings and provide practical guidance for developers and platform architects to prioritize system robustness, efficiency, and usability to enhance user satisfaction and engagement. Full article
(This article belongs to the Section Financial Technology and Innovation)
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34 pages, 3345 KB  
Article
Divergent Pathways to Place Attachment: How Heterogeneous Communities Shape Human–Green Space Relationships in Beijing
by Jing Li, Jian Zhang, Yunze Shi and Xiuwei Li
Land 2026, 15(3), 471; https://doi.org/10.3390/land15030471 - 15 Mar 2026
Viewed by 477
Abstract
Land transition in China has led to the emergence of highly heterogeneous neighborhoods. This process challenges the social sustainability of public green spaces. This research investigates the driving mechanisms of place attachment within green space across diverse community typologies in Beijing. This study [...] Read more.
Land transition in China has led to the emergence of highly heterogeneous neighborhoods. This process challenges the social sustainability of public green spaces. This research investigates the driving mechanisms of place attachment within green space across diverse community typologies in Beijing. This study constructed a structural equation model (SEM) based on 626 valid questionnaires, using the Stimulus–Organism–Response (S-O-R) framework. The overall SEM results indicate that place identity significantly contributes to civic behavior (β = 0.439, p < 0.001). However, a persistent ‘value-action’ gap remains, with 65.81% of residents demonstrating high identity yet low participation. Furthermore, the multi-group analysis (MGA) reveals that place attachment logic diverges significantly across groups. Regarding user identity, public events promote visitors’ place identity, but this effect remains insignificant among residents (β = −0.064, p > 0.05). Regarding generational differences, the macro-spatial environment is significantly associated with place dependence for young people (β = 0.330, p < 0.001) but is insignificant for the elderly. Community heterogeneity reveals distinct failure modes. In commodity housing communities, a disconnect exists where daily usage fails to foster dependence (β = 0.026, p > 0.05). Conversely, urban–rural resettlement communities display an identity deficit where public events fail to translate into place identity (β = 0.131, p > 0.05). The study proposes differentiated renewal pathways tailored to three community types. For commercial housing communities, it advocates precise interventions that prioritize social engagement. Meanwhile, for urban–rural resettlement communities, the focus shifts to accessibility and culturally rooted activities to help reconnect displaced populations. Full article
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23 pages, 824 KB  
Article
Leading with Integrity: Impact of Ethical Leadership on Performance of Healthcare Professionals in Saudi Arabia
by Badr K. Aldhmadi, Rakesh Kumar, Bilesha Perera and Mohammad A. Algarni
Healthcare 2025, 13(24), 3205; https://doi.org/10.3390/healthcare13243205 - 8 Dec 2025
Viewed by 1212
Abstract
Background/Objectives: Ethical leadership (EL) propels and enhances employee performance (EP), especially in healthcare, where ethics are paramount. However, existing research lacks a focus on how EL functions within Saudi Arabia (SA)’s public healthcare context. Primarily, this research investigates how EL directly affects EP. [...] Read more.
Background/Objectives: Ethical leadership (EL) propels and enhances employee performance (EP), especially in healthcare, where ethics are paramount. However, existing research lacks a focus on how EL functions within Saudi Arabia (SA)’s public healthcare context. Primarily, this research investigates how EL directly affects EP. The research also investigates how organizational support (OS) influences EP and moderates the EL-to-EP relationship. Methods: This cross-sectional study consisted of 312 responses from doctors, nurses, and other administrators within Saudi public healthcare units. To analyze the collected data statistically, structural equation modeling (SEM) was opted for with the help of Smart-PLS 4. It helped to assess the direct effects of EL and OS on EP and further examine OS’s moderating role. A multigroup analysis (MGA) was also conducted in comparative form. It examined subgroup variations across gender, age, marital status, experience, and departmental affiliation. Results: The findings confirmed a positive impact of EL on EP. Moreover, a positive effect of OS on EP was also confirmed. Similarly, OS strengthened the positive effect of EL on EP. The MGA revealed variations across employee groups. It offered practical insights into how EL and OS function in diverse organizational contexts. These differences across groups reflect cultural and structural features of Saudi public healthcare. Conclusions: The extended research contributes to the literature on ethical leadership (EL) theory by applying contextual and demographic contingencies within the Saudi public healthcare sector. It also introduces OS as a significant moderator and provides actionable implications for improving performance through context-sensitive leadership and support strategies. Full article
(This article belongs to the Section Healthcare Organizations, Systems, and Providers)
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27 pages, 3589 KB  
Article
Why Do Users Switch from Ride-Hailing to Robotaxi? Exploring Sustainable Mobility Decisions Through a Push–Pull–Mooring Perspective
by Yuanxiong Liu, Hanxi Li, Shan Jiang and Jinho Yim
Sustainability 2025, 17(22), 9987; https://doi.org/10.3390/su17229987 - 8 Nov 2025
Cited by 1 | Viewed by 2553
Abstract
Robotaxi services represent a major step in the commercialization of autonomous driving, offering efficiency, consistency, and safety benefits. However, despite technological advances, their large-scale adoption is far from guaranteed. Most urban users already rely on mature ride-hailing platforms such as Didi and Uber, [...] Read more.
Robotaxi services represent a major step in the commercialization of autonomous driving, offering efficiency, consistency, and safety benefits. However, despite technological advances, their large-scale adoption is far from guaranteed. Most urban users already rely on mature ride-hailing platforms such as Didi and Uber, making the real behavioral question not whether to adopt Robotaxi, but whether to migrate from existing services. Prior studies based on TAM, UTAUT, or trust models have primarily examined users’ initial adoption decisions, overlooking the substitution behavior that better captures how people shift between competing mobility services in real contexts. This study addresses this gap by applying the Push–Pull–Mooring (PPM) framework to examine users’ migration from ride-hailing to Robotaxi services, based on survey data collected from 1206 respondents across four Chinese cities (Beijing, Shanghai, Guangzhou, and Wuhan). The model was tested using structural equation modeling and multi-group analysis (SEM–MGA). Push factors reflect negative experiences with ride-hailing, including social anxiety and insecurity caused by drivers’ behaviors; pull factors emphasize Robotaxi’ autonomy and service reliability; while mooring factors capture habitual ride-hailing use and perceived Robotaxi risk. Findings indicate that push and pull factors significantly promote migration intentions, whereas mooring factors hinder them. Among all factors, perceived risk exerted the strongest negative effect (β = −0.36), underscoring its critical role as a barrier to Robotaxi migration. Gender differences are also evident, with women more sensitive to risks and men more influenced by reliability. By situating adoption within a migration context, this study enriches high-risk innovation theory and offers practical guidance for designing gender-sensitive and user-specific promotion strategies. Full article
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20 pages, 969 KB  
Article
Impact of Sustainability Reporting on Financial Performance: A Multigroup Analysis of Jordanian Firms in High-Pollution and Low-Pollution Industries
by Almothanna Abu-Allan
J. Risk Financial Manag. 2025, 18(11), 617; https://doi.org/10.3390/jrfm18110617 - 4 Nov 2025
Cited by 3 | Viewed by 2389
Abstract
As global emphasis on environmental, social, and governance practices intensifies, sustainability reporting emerges as a critical tool for corporate transparency and accountability. The study aims to assess the impact of sustainability reporting on the financial performance of listed companies in Jordan. Using a [...] Read more.
As global emphasis on environmental, social, and governance practices intensifies, sustainability reporting emerges as a critical tool for corporate transparency and accountability. The study aims to assess the impact of sustainability reporting on the financial performance of listed companies in Jordan. Using a quantitative approach, a total of 588 individuals were surveyed from low-pollution and high-pollution industries using purposive sampling techniques. Partial Least Square Structural Equation Modeling (PLS-SEM) was used to conduct analysis of the data with the aid of SMART PLS4 software. The study finds that the impact of sustainability disclosures on firms’ financial performance in Jordan differs significantly by both the type of disclosure and the pollution intensity of the industry the firms belong to. Environmental impact reporting (EIR) and social impact reporting (SIR) both have positive and significant effects on financial performance, especially in low-pollution industries, probably because of a perceived proactive and authentic integration of sustainability practices. However, governance impact reporting (GIR) shows a negative relationship with financial performance, which implies that such disclosures may be perceived as compliance-driven or not authentic. These findings indicate that the context of the sustainability reporting strategy is an important element in determining its effect on financial performance. The multigroup analysis (MGA) results help us to gain a better understanding of how different sectors leverage financial value from disclosing their sustainability activities. The study confirms that sustainability disclosure is not just a compliance requirement, but an instrument that can help firms improve their financial performance. Finally, we recommend that future research should investigate deeper psychological and social mechanisms likely to influence stakeholder responses across different sectors and countries within the region. Full article
(This article belongs to the Section Business and Entrepreneurship)
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23 pages, 1041 KB  
Article
Financing Rural Futures: Governance and Contextual Challenges of Village Fund Management in Underdeveloped Regions
by Ari Warokka, Vetaroy Warokka and Aina Zatil Aqmar
J. Risk Financial Manag. 2025, 18(11), 603; https://doi.org/10.3390/jrfm18110603 - 28 Oct 2025
Viewed by 1864
Abstract
Effective management of village funds is central to financing sustainable and equitable rural futures, particularly in underdeveloped and resource-diverse regions such as Papua, Indonesia. This study explores the governance factors that shape the sustainability of village fund management (VFM) by examining institutional, financial, [...] Read more.
Effective management of village funds is central to financing sustainable and equitable rural futures, particularly in underdeveloped and resource-diverse regions such as Papua, Indonesia. This study explores the governance factors that shape the sustainability of village fund management (VFM) by examining institutional, financial, and socio-cultural dimensions across 212 villages. Primary data from village heads and secondary data on village-owned enterprises (BUMDes) and 2024 village fund allocations were analyzed using exploratory factor analysis (EFA), partial least squares structural equation modeling (PLS-SEM), and multi-group analysis (MGA). Seven key governance constructs emerged, with ethical governance, implementation capacity, mandatory disclosure and reporting, community participation, and financial management capacity demonstrating significant positive effects on sustainable VFM outcomes. In contrast, perceived social and economic impacts were negatively associated with performance, and planning quality exerted an influence only under specific contextual conditions. These relationships proved highly context-dependent, varying by geography, natural resource availability, transport accessibility, and demographic composition. The findings underscore the need for adaptive and context-sensitive governance strategies to strengthen institutional resilience, enhance fiscal equity, and maximize the developmental impact of village funds in underdeveloped rural regions. Full article
(This article belongs to the Section Applied Economics and Finance)
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24 pages, 540 KB  
Article
Enhancing Omnichannel Customer Experience: From a Customer Journey Design Perspective
by Wei Gao and Ning Jiang
J. Theor. Appl. Electron. Commer. Res. 2025, 20(4), 277; https://doi.org/10.3390/jtaer20040277 - 5 Oct 2025
Cited by 2 | Viewed by 6322
Abstract
Customer experience is central to omnichannel marketing and is increasingly the focus of research attention. However, few studies have focused on the development of excellent omnichannel customer experiences. To fill this research gap, we examined the drivers of these experiences from a customer [...] Read more.
Customer experience is central to omnichannel marketing and is increasingly the focus of research attention. However, few studies have focused on the development of excellent omnichannel customer experiences. To fill this research gap, we examined the drivers of these experiences from a customer journey design perspective. Partial least squares structural equation modeling (PLS-SEM) and partial least squares multigroup analysis (PLS-MGA) were employed to analyze 775 valid omnichannel customers’ data, which were collected through an online survey. The findings suggest that the thematic cohesion, consistency, context sensitivity, and connectivity of touchpoints play an important role in improving omnichannel customer experience. Value co-creation behavior can be significantly increased by affective, cognitive, physical, relational, and symbolic experiences, but not by sensorial omnichannel customer experiences. These results not only contribute to the knowledge of omnichannel customer experiences, customer journeys, and value co-creation behavior, but also offer useful advice for omnichannel marketers. Full article
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36 pages, 616 KB  
Article
Neurotourism Aspects in Heritage Destinations: Modeling the Impact of Sensory Appeal on Affective Experience, Memory, and Recommendation Intention
by Stefanos Balaskas, Theofanis Nikolopoulos, Aggelos Bolano, Despoina Skouri and Theofanis Kayios
Sustainability 2025, 17(18), 8475; https://doi.org/10.3390/su17188475 - 22 Sep 2025
Cited by 1 | Viewed by 2800
Abstract
This study models how designable cues in digital heritage promotion shape advocacy through affect and memory. Relying on the stimulus–organism–response paradigm, we argue that three stimuli, Visual Sensory Appeal (VSA), Narrative Immersion (NI), and Perceived Authenticity (PA), trigger Emotional Engagement (EE) and become [...] Read more.
This study models how designable cues in digital heritage promotion shape advocacy through affect and memory. Relying on the stimulus–organism–response paradigm, we argue that three stimuli, Visual Sensory Appeal (VSA), Narrative Immersion (NI), and Perceived Authenticity (PA), trigger Emotional Engagement (EE) and become Destination Memory (DM), leading to Intention to Recommend (IR). A cross-sectional quantitative design with an online self-report survey was employed. Using Structural Equation Modeling (SEM) we modeled 653 usable responses to test hypothesized stimulus–organism–response processes and Multi-Group Analysis (MGA) tested heterogeneity across gender, age, education, recent contact, cultural-travel frequency, preservation interest, prior heritage experience, and technology use. Direct associations revealed VSA was a strong predictor of IR, and EE and DM predicted IR positively. NI and PA were not incrementally directly affecting IR. Mediation tests revealed partial mediation for VSA (through EE and DM) and complete mediation for NI and PA; across all stimuli, DM far surpassed EE, suggesting memory consolidation as the overall mechanism. MGA revealed systematic segmentation: women preferred visual and authenticity approaches; men used affective conversion, narrative, and authenticity-to-memory more; young adults preferred story/memory levers; higher education made authenticity pathways legitimate; exposure, experience, sustainability interest, and technology use further conditioned strength of paths. Results sharpen S–O–R accounts by ranking visual design as a proximal driver and placing EE on DM as the central channel through which narrative and authenticity have their influence. In practice, the research supports visually consistent, memory-backed, segment-specific strategies for sustainable, inclusive heritage communication. Full article
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20 pages, 1155 KB  
Article
The Role of Fear of Missing out (FOMO), Loss Aversion, and Herd Behavior in Gold Investment Decisions: A Study in the Vietnamese Market
by Xuan Hung Nguyen, Dieu Anh Bui, Nam Anh Le and Quynh Trang Nguyen
Int. J. Financial Stud. 2025, 13(3), 175; https://doi.org/10.3390/ijfs13030175 - 15 Sep 2025
Viewed by 10823
Abstract
This study investigates the influence of FOMO, loss aversion, and herd behavior on gold investment decisions in the Vietnamese market. Employing data collected from 727 investors and the Partial Least Squares Structural Equation Modeling (PLS-SEM) method, the analysis results confirm the pivotal role [...] Read more.
This study investigates the influence of FOMO, loss aversion, and herd behavior on gold investment decisions in the Vietnamese market. Employing data collected from 727 investors and the Partial Least Squares Structural Equation Modeling (PLS-SEM) method, the analysis results confirm the pivotal role of FOMO, with both direct and indirect impacts on gold investment decisions. Notably, both loss aversion and herd behavior positively influence FOMO, thereby indirectly encouraging relatively hasty and inadequately considered investment decisions. The study also finds that FOMO has a negative relationship with anticipated regret but is positively correlated with subjective expected pleasure. Furthermore, as determined through Multi-Group Analysis (MGA), psychological messages featuring “self-decision” or “risk warning” demonstrate a significant moderating role, potentially reducing or enhancing the influence of FOMO on investment decisions. These findings contribute to enriching behavioral finance theory and provide an empirical basis for developing effective risk management policies and gold market regulation aimed at mitigating the negative impacts of FOMO. Full article
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37 pages, 1279 KB  
Article
Examining Investor Interaction with Digital Robo-Advisory Systems: Green Value and Interface Quality in a Socio-Technical Context
by Imdadullah Hidayat-ur-Rehman, Mohammad Nurul Alam, Majed Alsolamy, Saleh Hamed H. Alharbi, Tawfeeq Mohammed B. AlAnazi and Abul Bashar Bhuiyan
Systems 2025, 13(9), 787; https://doi.org/10.3390/systems13090787 - 7 Sep 2025
Cited by 5 | Viewed by 4209
Abstract
The main objective of this paper is to examine the factors influencing investor intention to adopt robo-advisory services in Saudi Arabia, with a particular focus on sustainability and platform interface quality (PIQ) within a socio-technical framework. Drawing on the Diffusion of Innovation (DOI), [...] Read more.
The main objective of this paper is to examine the factors influencing investor intention to adopt robo-advisory services in Saudi Arabia, with a particular focus on sustainability and platform interface quality (PIQ) within a socio-technical framework. Drawing on the Diffusion of Innovation (DOI), Technology Acceptance Model (TAM), Value-Based Adoption Model (VAM), and Trust theory, the research integrates constructs such as Knowledge about Robo-Advisors (KRA), PIQ, Green Perceived Value (GPV), and Perceived Trust (PT). Data were collected through a structured questionnaire targeting financially active individuals, with 387 valid responses analyzed using Partial Least Squares Structural Equation Modelling (PLS-SEM). The findings reveal that KRA significantly influences Intention to Use Robo-Advisors (IURA) both directly and indirectly, through GPV and Relative Advantage (RA), with only marginal support observed for Perceived Usefulness (PU). PIQ strongly influences perceived ease of use (PEOU) and PU, contributing to IURA, while PT significantly moderates the effects of KRA and PIQ. Multi-group analysis (MGA) further highlights heterogeneity across age, education, and investment groups, underscoring the contextual nature of adoption. The study highlights the critical role of PT, PIQ, and GPV alignment in investor decision-making when engaging with robo-advisory platforms. It offers theoretical contributions by extending traditional adoption models through the inclusion of green value and interface quality, and practical implications for FinTech developers and policymakers aiming to build inclusive, trustworthy, and environmentally aligned robo-advisory platforms. Full article
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