Mercados y Negocios

Objectives and purposes of financial analysis: an approach based on user heterogeneity and decision-making

2026-05-02T23:03:22+00:00

There is a general consensus in the financial literature that the main objectives and purposes of financial analysis are to interpret, evaluate and transform accounting information into useful data for economic and financial decision-making (AICPA, 1973; IASB, 2018). However, within this utilitarian approach, a fundamental problem persists: the heterogeneity of users of financial information and their potentially conflicting interests. From a theoretical perspective, financial analysis cannot be understood as a neutral process, but rather as an instrument conditioned by the specific objectives of financial users, such as investors, creditors, administrators, and regulators (Penman, 2013; Palepu et al., 2020). In this sense, the central problem lies in the fact that there is no single, universal objective or interest, but multiple objectives and interests derived from the diversity of users

Financial Literacy, Digital Literacy, Self-Efficacy, and Autonomy in Shaping Financial Well-being

2025-11-18T13:41:28+00:00

This study examines the effects of financial literacy, digital financial literacy, self-efficacy, financial autonomy, and impulsivity on financial well-being among women in West Sumatra, with financial behaviour as the mediating variable. Using a quantitative cross-sectional design, data were collected through an online survey of 405 working-age women and analysed with Partial Least Squares Structural Equation Modelling (PLS-SEM). The results indicate that financial literacy, digital financial literacy, self-efficacy, and financial autonomy significantly and positively affect financial behaviour, whereas impulsivity does not. Financial behaviour, in turn, has a significant positive impact on financial well-being and mediates the effects of literacy, digital literacy, self-efficacy, and autonomy, but not impulsivity. This research integrates the constructs of capability and agency within a matrilineal Southeast Asian context, showing that self-efficacy and autonomy play stronger roles in shaping financial practices than knowledge-based factors. These findings suggest that financial education should be coupled with initiatives that build confidence, autonomy, and consistent financial discipline among women.

Driving Customer Orientation in the Precast Construction Industry: An AHP-Based Model of Internal Marketing Factors and Strategic Initiatives

2026-01-09T08:58:13+00:00

While internal marketing has been studied extensively in customer-facing roles and service industries, there is limited evidence on its effective application in technical, non-customer-facing contexts such as construction, creating a critical gap in the literature. Addressing this, the study identifies the most influential internal factors, key actors, and strategic initiatives that drive customer-oriented behaviour in the precast concrete sector. Using the Analytic Hierarchy Process (AHP) with SuperDecisions software (version 3.2), data were collected from 14 industry experts to assess and prioritise these variables. Findings show that the organisational environment is the most dominant factor shaping internal customer orientation. The results highlight the need for firms to move beyond symbolic initiatives toward measurable, executive-supported strategies, providing a foundation for future cross-industry and cross-cultural comparisons.

Financial Resources, The National Science and Technology System, and Innovation Performance: Colombian Manufacturing Firms

2025-12-16T14:10:34+00:00

This study presents a theoretical model that analyses the relationship between financial resources, the National Science and Technology System, and innovation performance in Colombian manufacturing companies. Four hypotheses were formulated and approved, demonstrating a positive relationship between these factors. The research was based on an empirical, cross-sectional sample of 1,572 units, whose data were analysed using the PLS-SEM statistical package. The results confirm that the proposed theoretical model is acceptable and significant, suggesting that financial resources and the support of the science and technology system have a crucial impact on the innovation capacity of Colombian companies. Furthermore, the proposed theoretical model, derived from an integrated design of three factors informed by the theoretical consultation, aims to serve as a reference for future studies across different sectors and regions where manufacturing companies operate.

Virtual Influencer Credibility and Purchase Intention: The Mediating Role of Consumer Skepticism in China

2026-01-12T11:25:43+00:00

This study investigates how source credibility of virtual influencers affects purchase intention, with particular attention to the mediating role of consumer skepticism. An online survey was conducted among Chinese consumers who had prior exposure to virtual influencer content. Survey data collected from 350 valid respondents were analysed using structural equation modelling with AMOS 24.0. Results confirm that source credibility positively influences purchase intention and negatively influences consumer skepticism, which in turn negatively affects purchase intention. Bootstrap analysis with 5,000 resamples reveals that consumer skepticism partially mediates the credibility-intention relationship, with the indirect effect accounting for 26.53% of the total effect. These findings extend source credibility theory to the virtual influencer context and highlight the critical role of skepticism reduction in digital persuasion processes. The study contributes to the emerging literature on virtual influencer marketing by identifying consumer skepticism as a key psychological mechanism. Practical implications for brand managers in selecting, designing, and operating virtual influencers are discussed, along with directions for future research.

Resilience, Entrepreneurial Success, and Life Satisfaction among Syrian Refugee Entrepreneurs in Türkiye

2026-04-23T18:41:16+00:00

The main purpose of this study is to examine the mediating role of entrepreneurial success in the relationship between resilience and life satisfaction among Syrian refugee entrepreneurs who migrated to Türkiye due to the civil war and social conflicts in Syria and currently live in Gaziantep. The study population comprises 383 Syrian refugee entrepreneurs registered with the Gaziantep Chamber of Commerce. To test the research hypotheses, a path analysis based on the Bootstrap method—claimed to provide more reliable and valid results than the classical method—was conducted. Furthermore, structural equation modelling was used to test the research hypotheses. The findings suggest that refugee entrepreneurs with higher resilience levels achieve greater entrepreneurial success and experience higher life satisfaction. These results contribute to a better understanding of the economic and psychological adaptation processes of refugee entrepreneurs.