Niha Sheikh

Considering the snakebite effect experience of investors and their decision-making in the era of robo-advisors, this study focuses on examining the mediating role of the snakebite effect between the value of robo-advisors and investment decisions and assessing the moderation of social-emotional well-being and resilience among active investors. The research process began with an exhaustive review of existing literature and the development of a structured questionnaire. A further survey was undertaken by collecting 361 responses from active investors residing in the region of South India using robo-advisors, and finally, the mediation and moderation were analyzed utilizing confirmatory factor analysis (CFA) to check the model fit and Structural Equation Modelling (SEM) to test hypothetical relationships. The results validate the intervening role of the Snakebite Effect in the relationship between the value of Robo-Advisors and investment decision-making. Further, social emotional well-being and resilience of investors significantly lessen the negative impact of the snakebite effect on investment decision-making. The role of social-emotional well-being and resilience is vital as high tendency leads to a low snakebite effect, better effectiveness of robo-advisors, and investment decision-making. This study provides various theoretical, practical, and managerial implications for improved robo-advisory services and increased adoption among diverse investor segments. In particular, the study emphasizes that financial institutions should focus on hybrid advisory models that combine the analytical capabilities of robo-advisors with the empathetic, personal touch of human advisors.

Bridging the gap between stock market literacy and active participation is the ultimate objective for institutions and policymakers globally, due to its ability to promote inclusive economic growth. In light of this, the study intended to assess the impact of intrinsic and extrinsic motivation on stock market literacy leading to participation. Further, an attempt was made to analyze the intervening role of investment decision and the moderating role of Tri-Layer Market Analysis. With the descriptive design, a survey questionnaire was used to gather data for this investigation, collecting responses from 376 commerce and management students across government, private, and deemed universities between June and July 2024 from the region of Karnataka, India. Following the data collection, statistical techniques, such as regression analysis, one-way Analysis of Variance, and structural equation modelling, were applied to evaluate intrinsic and extrinsic motivation’s direct and indirect impacts on students’ stock market participation. As per the results, the Intrinsic (β =.361, t = 8.416, p = 0.000) and External Motivations (β =.422, t = 9.816, p = 0.000) substantially impact stock market literacy that ultimately impacts investment decision making (β = .450, t = 9.761, p = 0.000) and stock market participation (β =.207, t = 4.495, p = 0.000). The results also validate the intervening role of investment decision in the relationship between stock market literacy and stock market participation (indirect effect: .131).

Type of the article: Research Article

Abstract
Flash sale campaigns have become a dominant promotional strategy in e-commerce has significantly influenced consumer purchasing behavior and post-purchase outcomes. The present study investigates how flash sale content impacts consumers’ product return intention by analyzing the mediating role of impulse buying and data fatigue, and the moderating role of perceived irreplaceability. A quantitative research design was followed, with primary data collected from 400 online shoppers from Kerala, India, via a structured questionnaire during December 2025. Partial Least Squares Structural Equation Modelling (PLS-SEM) was used to analyze the data and test the proposed relationships, while descriptive statistics, mediation analysis, and moderation analysis were also applied. The results show that flash-sale content does not directly affect product return intention. Flash sale content significantly influenced data fatigue (β = 0.776, p < 0.001) and impulse buying (β = 0.154, p = 0.032). Data fatigue significantly influenced product return intention (β = 0.228, p = 0.006), while impulse buying positively affected product return intention (β = 0.198, p =0.004). Data fatigue mediates the relationship between flash sale content and intention to return a product, whilst impulsive buying alone was not a significant mediator. Meanwhile, the serial mediation through data fatigue and impulsive buying has proved to be significant. In addition to that, perceived irreplaceability significantly moderates the correlation between flash sale content and intention to return the product and the relationship between impulsive buying and intention to return a product. This research is an extension to the field of consumer behavior, as it reveals the influence of cognitive and emotional processes on product return intentions during flash sales. The results also offer practical guidance for e-commerce sites in developing effective promotional campaigns that yield fewer impulse purchases, cognitive overload, and product returns.