This study investigates the impact of brand–person congruence (BPC) and the fear of missing out (FoMO) on consumer happiness, considering the mediating role of emotional marketing (EM) and gender-based structural differences. Drawing on self-congruence theory and the Differential Emotion Processing Theory, a relational model integrating identity, social and affective variables is proposed. A quantitative, cross-sectional design was employed to analyse data collected from 360 young consumers via an online, structured questionnaire. The model was estimated using covariance-based structural equation modelling (CB-SEM) and multigroup analysis (MGASEM). Results indicate that both BPC and FoMO significantly affect EM, which acts as a key mediator linking identity and social factors to consumer happiness. Gender differences were observed: among men, BPC directly influences happiness, whereas among women, FoMO exerts a direct impact. EM emerges as an emotional translator that transforms symbolic congruence and social tensions into subjective happiness. The findings contribute to the theoretical understanding of consumer happiness as a relational outcome shaped by identity-related and social dynamics and influenced by emotional mechanisms. From a managerial standpoint, the study offers practical insights for developing ethical, emotionally responsible, and happiness-oriented marketing strategies in digital consumption contexts.
Nowadays, nothing is more critical for business than dealing with environmental degradation. Drawing upon the Upper Echelon Theory, this study delves into the nuanced influence of CEO narcissism on corporate environmental performance. Unlike previous research that treats narcissism as a single construct, this work distinguishes between its two primary dimensions: grandiose and vulnerable narcissism. Based on a sample of 214 observations of Spanish firms over the period 2015-2020, the research findings reveal a divergent impact. On the one hand, the results show stronger corporate environmental performance when CEOs predominantly exhibit traits of grandiose narcissism, likely driven by a desire for visibility and social recognition. On the other hand, corporate environmental performance is significantly weaker when CEOs manifest traits of vulnerable narcissism, characterised by low extroversion. In addition, we analysed the moderating role of CEO duality in the above relationships. The results indicate that when the CEO also chairs the board of directors, the negative effects of vulnerable narcissism on environmental performance of firms are more pronounced. These findings provide valuable insights for boards of directors regarding the selection of a new CEO, the design of governance mechanisms and the strategic importance of CEOs psychological traits aimed at ensuring corporate environmental sustainability.
This study examines the impact of corporate social performance (CSP) and its subdimensions (workforce, human rights, community, and product responsibility) on firms’ tail risk and upside potential in the Spanish stock market. Focusing on the period from 2014 to 2021, annual corporate financial performance (CFP) metrics were computed through filtered historical simulation (FHS), a semiparametric approach based on Generalised Autoregressive Conditional Heteroskedasticity (GARCH) models and bootstrapping. This approach allows the main stylized facts of stock returns (i.e., autocorrelation, volatility clusters, and heavy tails) to be accounted for and, at the same time, firms’ financial performance to be computed from the simulated distribution. The main findings reveal a complex time-dependent connection between CSP and its subdimensions and firms’ tail risk and upside potential. In fact, while CSP reduces tail risk in the short term, it increases maximum loss in the long term. Interestingly, the results do not provide any evidence of the existence of a risk–return trade-off effect. Finally, the study highlights the need to monitor specific CSP subdimensions such as human rights and community, since they entail higher tail risk and lower upside potential.
This study examines the relationship between quality of financial information (QFI) and the probability of corporate decline in the food manufacturing sector within the European Union (EU) controlled by a set of internal (age, size, liquidity, return on assets, and debt) and external (gross domestic product and unemployment rate) determinants. The study employs a logit regression model applied to a balanced panel dataset of 335 large food manufacturing firms in the EU from 2011 to 2021. Quality of financial information is estimated using discretionary accruals, based on the Jones model (1991), while corporate decline is measured by fluctuations in sales. The findings indicate that low-quality financial information (high discretionary accruals) is positively associated with corporate decline, highlighting the role of financial transparency in business sustainability. The results suggest that earnings management practices can increase business vulnerability, reinforcing the importance of accurate financial reporting in mitigating corporate failure. The study underscores the need for enhanced regulatory oversight and financial reporting transparency in the food manufacturing industry. Policymakers and stakeholders should strengthen financial disclosure requirements to curb earnings management practices and ensure better resource allocation for long-term sustainability. This research contributes to the limited literature on quality of financial information and corporate decline, particularly in the food manufacturing sector, which is crucial for economic stability and public welfare. By integrating financial reporting quality into corporate failure analysis, this study provides new insights into the role of earnings management in business deterioration.
Although social identity has been previously studied, its connections with experiential value, customer satisfaction, and post-purchase intention remain unclear and deserve further investigation. Aiming at clarifying this relationship, a model grounded in social identity theory examines how social identification with Slow Food restaurant experiences impacts satisfaction and loyalty, considering the mediating role of experiential value in these restaurants. Drawing on a sample of 416 Slow Food restaurant consumers in Portugal, and analyzed through Structural Equation Modeling, the study reveals that social identity positively influences both the functional and emotional dimensions of experiential value. In addition, results highlight the strong influence of these experiences in shaping customer satisfaction and in driving positive post-purchase intentions, reinforcing the relevance of social identity for the success of these restaurants. The findings suggest that when customers feel identified with the philosophy of Slow Food, they tend to value the experience more intensely, which in turn leads to higher satisfaction and stronger loyalty intentions. Therefore, managers should uphold authenticity, environmental friendship and engagement with the local community to generate social identity during the gastronomic journey in Slow Food restaurants, creating a meaningful and lasting connection that sustains customer satisfaction and encourages loyalty over time.
