Spending Behavior Research Articles

Examining people's shopping behavior in society 5.0 era

The purpose of this research is to find out people's shopping behavior in the era of society 5.0. This research is expected to provide insight into the development of science in the field of management and marketing science, besides that it is hoped that this research can be used as a reference for further researchers. Provide management expertise in achieving goals in knowing people's spending behavior in the era of society 5.0. This research is expected to be a reference material and a comparison for future researchers and fulfill the requirements for obtaining a Master of Management degree at the University of National Education Graduate School. This research is expected to be useful to provide information, knowledge and add insight for students about marketing management. The results of this study can be concluded that Fashion is the type of product that is most sought after by millennials. Fashion products offered online also have more affordable prices when compared to selling prices in offline stores. Most consumers use online marketplaces (such as Zalora, Tokopedia, Lazada and Shope) and social media (such as Tiktokshop) to shop online.

Environmental regulation and development of the tertiary industry

ABSTRACT Environmental regulation has become an important policy practice in many countries, and it has an effect on economic development. Previous literature has focused on the effect of environmental regulation on the development of the aggregate economy or the secondary industry while ignoring its effect on the development of the tertiary industry. Accordingly, we systemically identify for the first time the causal effect of environmental regulation on the development of the tertiary industry. Exploiting the great exogenous variation in regulatory intensity generated by China’s 2013 Air Pollution Prevention and Control Action Plan, we apply the difference-in-difference method to China’s province-sector panel data from 2009 to 2017. The results suggest that environmental regulation reduces the fixed asset investment and value-added of tertiary sectors but increases the establishment of legal entities in tertiary sectors. Thus, environmental regulation does lead some production resources flowing to local tertiary sectors. However, this flow fails to reverse the decline in the investment and production of local tertiary sectors. Environmental regulation affects the development of the tertiary industry through industrial linkages between the secondary and tertiary industries, the flow of production resources from the secondary to the local tertiary industry, and the local governments’ taxation and spending behaviour.

Financial Education and Consumer Empowerment: The Development in Malaysia with Reference to the Role of Regulator

Financial education has fast emerged as a pivotal instrument to help individuals and households navigate the increasingly complex financial decisions they must make in the short-term and long-term. Though not entirely similar to consumer protection, arguably, effective financial education will help empower consumers to protect themselves through prudent wealth management and wise spending behaviours. By employing qualitative content analysis, this study examines the development of financial education initiatives implemented by the Central Bank of Malaysia (BNM) since the introduction of the Financial Sector Master Plan 2001. The study found that BNM as the regulator has consistently committed to formulating numerous approaches to educate financial consumers through Consumer Education Programmes, a strategic partnership known as Financial Education Network, and the introduction of the National Strategy of Financial Literacy and Financial Literacy Month. It is also submitted that financial education's success does not solely rely on financial regulators but requires cooperation from relevant non-governmental organisations and consumers.

Spending Behavior of Non-Teaching Personnel in Private Higher Educational Institutions in Albay Province

Spending behavior is disbursing money in response to an action, an environment, or a person to satisfy needs and wants. Employees provide their services in exchange for payment, which may take the form of wages or salary. The aim of this study was to determine the spending behavior of non-teaching personnel in private higher educational institutions in Albay and how they are going to improve their spending behavior. This study used mixed methods, qualitative and quantitative research designs, and utilizing a survey questionnaire which has three parts, to gather the necessary data and information needed for this study. Using the statistical tool frequency count and percentage distribution, Likert scale, and ranking. The analyzed data revealed that the respondents "often" spend on their necessities and "seldom" when it comes to their leisure. However, there are problems encountered by the respondents along with their spending practices that resulted in not having a budget plan. Employees should always keep track of their expenses to ensure proper spending. As a result, they will become more aware of their finances, which will make it easier for them to alter their spending habits by being able to track where their money is going. Employees should be aware of the significance of their financial decisions. They will have a better chance of being financially secure if they have the right knowledge in handling finances.

Play or pay to win: Loot boxes and gaming disorder in FIFA ultimate team

The aim of this study was to examine the relevant characteristics and motivations of 1144 international players of FIFA Ultimate Team for spending money on player packs (i.e., loot boxes). Loot boxes have been compared to gambling mechanics as they may both reinforce problematic behavior. Results showed employment status and sensitivity for rewards predicted spending on loot boxes, and that this behavior was motivated by the need for competence, autonomy and relatedness. Severity of gaming disorder also positively predicted spending behavior, both directly and indirectly through players’ need for autonomy. Although time spent playing was the strongest predictor of in-game success, the amount of money spent on loot boxes also improved players’ in-game ranking. Combined, gaming disorder and the perceived benefits to players’ ranking, competence, autonomy and relatedness contribute to the financial success of this monetization mechanic.

How do fiscal rules shape governments' spending behavior?

AbstractAt odds with the large literature devoted to the fiscal discipline effects of fiscal rules, only few contributions investigate their impact on public spending. Estimations based on the entropy balancing method reveal the following causal effects: fiscal rules significantly reduce total public spending and public consumption, leave public investment mostly unaffected, and increase the public investment‐to‐public consumption ratio. Moreover, the type of fiscal rule and countries' level of economic development influence the way fiscal rules affect public spending. Lastly, fiscal rules' features are a major driving force of the way governments change public spending in the presence of fiscal rules.

Indonesian Viewers' Money Spending Behavior in the Live Streaming Platform: Twitch

Twitch as a live-streaming platform that is growing in popularity in Indonesia, is a space that is still not easy to navigate for content creators. Most Indonesian Twitch content creators have not been able to maximize the earnings they can get from platform. On this platform, content creators can earn income through three alternatives, namely: Subscriptions, Bits, and Donations. Many previous studies have discussed the motivation of Twitch viewers to spend money, such as having emotional connection with the content creators, wanting to achieve rewards, wanting to support financially, etc. However, most of these studies focus on only one alternative of spending and only discuss briefly about the other alternatives of spending. Thus, this study would like to analyze the factors that motivate a viewer to spend money on Twitch on each alternative of money spending. This research will be conducted using qualitative methods with semi-structured interviews and quantitative methods using online surveys. Interviews were conducted with 14 respondents. The interview results in a discovery of a new motivational factor variable and several new indicators that will be added into the quantitative research using online surveys. The online survey collected 203 respondents. Those data were analyzed by the Kruskal Wallis test and Multiple Linear Regression using SPSS. This study shows that there is a significant difference in the three alternatives of money spending on Twitch. The significant difference found was the Rewards variable. Moreover, this study indicates that Emotional Connection, Rewards, Supporting Financially, and Consistency are the four motivational variables that influence viewers repurchase intention. With the result obtained, this study can help content creators to know which area they need to improve in order to get their viewers to be more motivated to do money spending on the alternatives that are yet to be optimal for them.

Do rival political parties enforce government efficiency? Evidence from Canada 1867–2021

This paper investigates the role of inter-party rivalry in enhancing federal government efficiency in post-Confederation Canada. It tests and finds confirmation in the data for two hypotheses. The first is that the ex post size of the first versus second seat share margin is a useful metric for the ineffectiveness of political parties in policing the incumbent's spending behaviour over its period of tenure. The second is the hypothesis that shirking by the incumbent governing party is decreased by greater expected electoral contestability and expected contestability is related to the effective number of competing parties (ENPSeats) nonmonotonically. In this regard the results suggest that contestability in Canada reaches a maximum when the incumbent faces a value of ENPSeats that is closer to 2.5 than Duverger's 2.

The Influence of Spending Behaviour Among University Students in Malaysia

The number of insolvencies in Malaysia is rising rapidly, especially among the youth. According to the Malaysian Insolvency Authority, the number of bankruptcy declarations has been steadily increasing since 2015. Indebtedness and overspending are the main causes of this condition, and they could be caused by a lack of financial capability. This study focuses on university students because they are the future stars of the country. The objective of this study is to investigate what factors influence the spending behaviour of university students in Malaysia. The study uses primary data collected through structured questionnaires from a sample of 300 university students in Malaysia. The data were analysed using Statistical Package of Social Science (SPSS) 28.0 software and descriptive survey method. In this study, three independent variables are used to determine the relationship between spending behaviour of university students in Malaysia: Financial Management Knowledge (KFM), Parental Income (PI), and Peer Influence (P). Descriptive statistics, normality test, correlation and regression analysis were used to analyse the data. The results show that, with the exception of financial management knowledge, all independent factors have a significant relationship with university students' spending behaviour. This study also offers suggestions and critiques on how to address the problem of excessive spending among university students, especially Malaysian students. Therefore, the focus of this study is to discuss these characteristics and the spending behaviour of university students.

Policy feedback via economic behavior: A model and experimental analysis of consumption behavior

AbstractThis article examines policy feedback via economic behavior in the mass public, with a focus on consumption behavior. Do public policies affect the consumption behavior of mass publics and subsequent policymaking processes and outcomes? If so, how? I introduce a policy feedback model of consumption behavior in the mass public. Within this model, I advance a theoretical argument on the consequences of targeted cash assistance policies (TCAPs) for consumer spending behavior and government provision of basic utilities in developing countries. Using a randomized field experiment in Mexico and pre–post analysis, I find that TCAPs boost consumer spending on private access to basic utilities in the short term and reduce government provision of basic utilities in the medium term. The study pushes policy feedback theorists to think beyond the arena of mass politics, and the findings have important implications for social policy and human development in developing countries.

Flypaper effects of Central Transfers on the spending behaviour of Ghana’s central region local governments: Does status matter?

Fiscal system incentivises local government officials to depend on central government’s transfers to fund their budgets. This paper examines whether district and municipal status local government officials exhibit the same spending behaviour when presented with central government’s transfers. The paper uses the panel data model to estimate the flypaper effect on district and municipal status local governments in the Central Region of Ghana from 2008 to 2015. The result shows differences in spending behaviour between district and municipal status local governments, where the flypaper effect is more pronounced on municipal status local governments (52.6%) than district status local governments (44.8%). Though municipal local governments are financially better in raising own-source revenues compared to the district local governments, the design of the fiscal system tends to make municipal local governments more reliant on central transfers than on expenditure of own-source revenues. This reduces interest in raising own-source revenue and its expenditure, a situation which has an adverse long-term impact on decentralisation in terms of citizen empowerment and participation. The study recommends an optimal level of central transfers which will serve the purpose of correcting vertical and horizontal imbalances, as in theory, and at the same time promote the ideals of decentralisation (citizen empowerment and participation).

Viscoelastic or viscoplastic theory (VGT #84): A comparison study of the influences on the gross domestic product (GDP), inflation rate, and consumer price index (CPI) in the USA resulting from consumer psychological reactions and spending behavior changes over 9-quarters during the COVID-19 pandemic period from Y2020Q1 to Y2022Q1 based on GH-method: math-physical medicine, especially the VGT energy tool (No. 674)

The author is a mathematician and engineer who has conducted medical research work over the past 13 years. Thus far, he has written 670 medical research papers. Beginning with paper No. 578 dated 1/8/2022, he wrote a total of 80 medical research articles using the viscoelasticity and viscoplasticity theories (VGT) from physics and engineering disciplines on 80 different medical problems with their associated data. These papers aim to explore some hidden biophysical behaviors and provide a quantitative understanding of the inter-relationships on a selected medical output (symptom) versus either singular input or multiple inputs (root causes, risk factors, or influential inputs). The hidden biophysical behaviors and possible inter-relationships exist among lifestyle details, medical conditions, chronic diseases, and certain severe medical complications, such as heart attacks, stroke, cancers, dementia, and even longevity concerns. The chosen medical subjects with their associated data, multiple symptoms, and influential factors are “time-dependent” which means that all biomedical variables change from time to time because body living cells are dynamically changing. This is what Professor Norman Jones, the author’s adviser at MIT, suggested to him in December 2021 and why he utilizes the VGT tools from physics and engineering to conduct his medical research work since then. From 1980 to 1981, the author attended a college in California for his MBA degree, emphasizing finance and marketing. In addition, he spent many years managing a successful high-tech semiconductor business in Silicon Valley, where it involved many key factors of economics and finance, such as gross domestic product (GDP), inflation rate, consumer price index (CPI), NASDAQ stock performance, price/earnings ratio (P/E ratio), various investment decisions, return on investments (ROI), etc. As a result, he has a strong background in money topics associated with finance and economics. In addition, during the 9 years from 2002 to 2010, he self-studied psychology and established 4 psychotherapy centers to take care of 200+ abused women and abandoned children. Therefore, he has accumulated a considerable amount of knowledge on psychological behaviors, especially in the field of clinical psychology of abused victims. During his recent medical research work using the tool of viscoelastic or viscoplastic behavior theory, he suddenly realized a strong similarity between medicine and economics. The behaviors and patterns of economics variables (inputs and outputs) he observed are comparable to the behaviors and patterns of medical variables he studied and researched (causes and symptoms) in terms of their curve shape & waveforms, fluctuation patterns, moving trends, physical behaviors, etc. For example, he has applied the candlestick chart or K-line diagram from Wall Street as an effective glucose representation tool in medicine. Most importantly, variables in both medicine and economics possessed the common “time-dependent” characteristics.

The Impact of Covid-19 Pandemic on Customers’ Spending Behavior in the United Arab Emirates

The Covid-19 pandemic has significantly impacted the global economy, causing consumers panic, mobility restrictions and resulting in job losses. Using survey data from 300 respondents, this study examines the effect of a Covid-19 pandemic on consumer spending behavior in the United Arab Emirates (UAE). The study finds that the spending behavior of UAE residents during the pandemic has not changed much compared to the pre-pandemic period, despite that some have lost a portion of their income. The study also reports that customers in the UAE have experienced lower panic-shopping behavior during the pandemic. In addition, the findings indicate that about 57% and 51% of the respondents lack adequate savings such as emergency fund and insurance respectively. Generally, it can be concluded that customers in the UAE were able to stabilize their spending behavior with no significant changes in their general spending behavior. The stable spending of UAE customers during the pandemic can be explained by the high level of optimism customers have on the likelihood of economic recovery in the post pandemic period.

Food spending in the United States during the first year of the COVID-19 pandemic.

The COVID-19 pandemic brought about a significant increase in the unemployment rate and a decline in consumer income. At the same time, the public health responses to the pandemic, such as lockdowns and business closures, disrupted the food supply chain. These pandemic-driven changes could lead to a shift in food spending behaviors and potentially exacerbate the food insecurity situation. Leveraging the nationally representative dataset from the 2017–2020 consumer expenditure surveys, we employ a two-part model to assess the changes in weekly household spending on total food, food-at-home (FAH), and food-away-from-home (FAFH) between the pre-pandemic and pandemic period in the United States. Our finding shows a predicted marginal decline in FAFH expenditure by 33.7% but an increase in FAH spending by 6.9% during the pandemic. The increase in FAH spending could not fully offset the decrease in FAFH spending, leading to a decline in total food spending by 12.6%. The results could provide a basis for future studies on food insecurity, nutrient intake, and healthy consumption during the pandemic.

Viscoelastic or Viscoplastic Theory (VGT #84): A Comparison Study of the Influences on the Gross Domestic Product (GDP), Inflation Rate, and Consumer Price Index (CPI) in the USA Resulting from Consumer Psychological Reactions and Spending Behavior Changes over 9-Quarters During the COVID-19 Pandemic Period from Y2020Q1 to Y2022Q1 Based on GH-Method: MathPhysical Medicine, Especially the VGT Energy Tool (No. 674)

The author is a mathematician and engineer who has conducted medical research work over the past 13 years. Thus far, he has written 670 medical research papers. Beginning with paper No. 578 dated 1/8/2022, he wrote a total of 80 medical research articles using the viscoelasticity and viscoplasticity theories (VGT) from physics and engineering disciplines on 80 different medical problems with their associated data. These papers aim to explore some hidden biophysical behaviors and provide a quantitative understanding of the inter-relationships of a selected medical output (symptom) versus either singular input or multiple inputs (root causes, risk factors, or influential inputs). The hidden biophysical behaviors and possible inter-relationships exist among lifestyle details, medical conditions, chronic diseases, and certain severe medical complications, such as heart attacks, stroke, cancers, dementia, and even longevity concerns. The chosen medical subjects with their asso- ciated data, multiple symptoms, and influential factors are “time-dependent” which means that all biomedical variables change from time to time because body living cells are dynamically changing. This is what Profes- sor Norman Jones, the author’s adviser at MIT, suggested to him in December 2021 and why he utilizes the VGT tools from physics and engineering to conduct his medical research work since then. From 1980 to 1981, the author attended a college in California for his MBA degree, emphasizing finance and marketing. In addition, he spent many years managing a successful high-tech semiconductor business in Silicon Valley, where it involved many key factors of economics and finance, such as gross domestic product (GDP), inflation rate, consumer price index (CPI), NASDAQ stock performance, price/earnings ratio (P/E ratio), various investment decisions, return on investments (ROI), etc. As a result, he has a strong background in money topics associated with finance and economics.

Post COVID-19 recovery for independent full-service restaurants using the salience theory: what will it take to get customers to return?

Purpose This study aims to compare customers’ perceived importance of various post-COVID-19 recovery strategies (i.e. sanitary practices, discounts, menu modification and marketing strategies) adopted by independent full-service restaurants (casual dining versus upscale/fine dining) using the salience theory. It also assesses the associations between customers’ perceptions and their restaurant spending patterns. Design/methodology/approach An online survey was administered to assess 657 US adult participants’ restaurant spending behaviors at different stages of the COVID-19 pandemic using recall questions. Higher-spending versus lower-spending participants’ perceived importance of restaurant recovery strategies were compared in the casual dining versus upscale/fine dining contexts. Findings Amid the COVID-19 pandemic, sanitary practices were the most important factor in participants’ restaurant choices, and it was more important for independent casual dining restaurants than for upscale/fine dining restaurants. No significant difference was found in participants’ perceived importance of sanitary practices across different geographic regions. Higher-spending diners (HSD) perceived almost every restaurant recovery strategy as important. Lower-spending diners (LSD) only considered sanitary practices as important. Practical implications This study identified important strategies that restaurant operators and public health officials can adopt to help full-service restaurants recover from pandemic losses. Originality/value This study differs from previous consumer choice studies; in that it compared HSD with LSD regarding their perceived importance of various restaurant recovery strategies. This study also provides new insights for understanding the salience theory of choice under the impact of COVID-19.

Impact of Parenting Styles to the Spending Behaviors of Senior High School Students at Western Philippines University-Agricultural Science High School, Aborlan, Palawan

Impact of Parenting Styles to the Spending Behaviors of Senior High School Students at Western Philippines University-Agricultural Science High School, Aborlan, Palawan

Tourists' engagement and willingness to pay behavior during COVID-19: an assessment of antecedents, consequences and intermediate relationships

PurposeThis study identifies antecedents and consequences of destination brand engagement (DBE) that have redefined the tourists' behavior during the COVID-19 outbreak. Specifically, it assesses the impact of social media interaction and destination authenticity on DBE and DBE's effect on tourists' willingness to pay (WTP). Further, it examines the mediating role of affective attitude and the moderating role of perceived risk between the associations of DBE and WTP.Design/methodology/approachSurvey data were collected from 436 respondents through a structured questionnaire from selected tourism destinations in India. Structural equation modeling (CB-SEM) is employed to empirically examine the formulated hypotheses. Besides, hierarchical second-order confirmatory factor analysis is also deployed to analyze certain constructs as higher-order factors.FindingsSocial media interaction and destination authenticity elevate DBE, and DBE enhances affective attitude and WTP. Affective attitude mediates the relationship between DBE and WTP. Hence, the association between tourists' engagement and spending behavior becomes crucial under elevated affective attitude conditions. Finally, perceived risk during the pandemic dampens the association between DBE and WTP.Practical implicationsThe findings may provide newer insights to the tourism companies, marketers and policymakers to create targeted strategies to minimize the risk perception and improve engagement levels of the tourists, which can yield economic returns in the long run.Originality/valueBased on the cues from protection motivation theory (PMT), this study develops a DBE framework and identifies the factors affecting its sustenance in the pandemic hit tourism sector. Further, suggesting implications to ensure safety measures in the tourism industry that may assist in establishing economic resilience.

Can Interpretable Reinforcement Learning Manage Prosperity Your Way?

Personalisation of products and services is fast becoming the driver of success in banking and commerce. Machine learning holds the promise of gaining a deeper understanding of and tailoring to customers’ needs and preferences. Whereas traditional solutions to financial decision problems frequently rely on model assumptions, reinforcement learning is able to exploit large amounts of data to improve customer modelling and decision-making in complex financial environments with fewer assumptions. Model explainability and interpretability present challenges from a regulatory perspective which demands transparency for acceptance; they also offer the opportunity for improved insight into and understanding of customers. Post-hoc approaches are typically used for explaining pretrained reinforcement learning models. Based on our previous modeling of customer spending behaviour, we adapt our recent reinforcement learning algorithm that intrinsically characterizes desirable behaviours and we transition to the problem of prosperity management. We train inherently interpretable reinforcement learning agents to give investment advice that is aligned with prototype financial personality traits which are combined to make a final recommendation. We observe that the trained agents’ advice adheres to their intended characteristics, they learn the value of compound growth, and, without any explicit reference, the notion of risk as well as improved policy convergence.

Financial Socialization Agents and Spending Behavior of Emerging Adults: Do Parents, Peers, Employment, and Media Matter?

Using consumer socialization theory, this study examined the associations between perceived influence of parents, peers, employment, and media and spending behaviors of emerging adult college students from three different regions of the US: Northeast, South Atlantic, and Mountain regions. Data from the Emerging Adult Financial Capability Study (N = 2,322) were analyzed using structural equation modeling. Greater parental and employment influences perceived by the students were linked with more responsible spending behaviors, while greater peer and media influences were associated with less responsible spending behaviors. This study highlights the importance of the home and the workplace as the nexus for financial learning. This knowledge can help focus efforts to help future emerging adult college students learn responsible spending behaviors.