Irrationality and economic morality of SMEs’ behavior during the Covid-19 pandemic: lesson from Indonesia
| Autor: | Agus Wibowo, Januar Kustiandi, Hari Wahyono, Bagus Shandy Narmaditya |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2021 |
| Předmět: |
0301 basic medicine
Morality economic Science (General) media_common.quotation_subject Herd behavior Behavioral economics Altruism Q1-390 03 medical and health sciences 0302 clinical medicine Loss aversion Economics Classical economics media_common H1-99 Multidisciplinary Morality Social sciences (General) 030104 developmental biology Endowment effect Unemployment Small and medium enterprises Small and medium-sized enterprises 030217 neurology & neurosurgery Research Article |
| Zdroj: | Heliyon Heliyon, Vol 7, Iss 7, Pp e07400-(2021) |
| ISSN: | 2405-8440 |
| Popis: | The Covid-19 pandemic provides severe consequences of economic behavior as an increase of unemployment rates, and providing a new business creation can continue the economic activities. This study explores a functional relationship between irrational behavior, which proxied by loss aversion, the endowment effect, and herd behavior toward the morality of economic among small and medium enterprises (SMEs), as well as the mediating role of altruism in the perspectives of behavioral economics. The research involved a quantitative survey and cross-sectional data with a sample of 288 SMEs in East Java of Indonesia. Using structural equation modeling, the findings reveal that the endowment effect and herd behavior have a robust relationship with economic morality. This study also notes that altruism has a positive link with economic morality, and it has successfully mediated the irrational behavior of SMEs in Indonesia. In addition, the marketing strategy also distinguishes altruism's impact on morality economic. Altruism; Endowment effect; Herd behavior; Morality economic; Small and medium enterprises. |
| Databáze: | OpenAIRE |
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