On November 29th, Dr. Thusyanthy (Thusi) Lavan from the Queensland University of Technology (QUT) in Australia gave an online lecture titled "Social Isolation and Risk-Taking Behavior: The Case of COVID-19 and Cryptocurrency" about her recently published academic article during the Seminar 1 course (Instructor: Assistant professor at GLOMAC, Toyohiko Sugimoto).
Dr. Lavan, a Lecturer in Marketing at the School of Advertising, Marketing, and Public Relations, QUT Business School, holds a PhD in Marketing from QUT, earned in 2022. She holds a distinguished educational and practical background. Prior to her tenure at QUT, Dr. Lavan amassed over a decade of teaching experience as a Full-time Lecturer in Marketing and Associate Lecturer at two esteemed state universities in Sri Lanka. Complementing her academic journey, she brings valuable insights from her two years of service in the banking industry.
In her presentation, Dr. Lavan described how human risk-taking behaviors are potentially associated with social isolation. She explained the impact of social isolation (such as lockdowns during the COVID-19 pandemic) on risk-taking behavior (e.g., cryptocurrency investment) in highly uncertain environments
with the potential for significant gains and losses. Specifically, her research reveals that social isolation directly increases risk-taking behavior (i.e., main effect) and also amplifies it through heightened perceived stress (i.e., indirect effect) in unpredictable circumstances. She highlighted that social isolation intensifies perceived stress, potentially leading to riskier purchasing decisions. Lastly, she also emphasized the contribution of this research, particularly for practitioners such as advisors (e.g., financial consultants), marketers (e.g., agents, promoters), and policymakers (e.g., government agencies, lawmakers).
For example, government policymakers can craft policies to support economic stability and mental health by integrating access to financial advice and psychological support into public health responses, especially during or following crises that lead to widespread social isolation.
For most students, even though it was their first time encountering academic research conducted by an international scholar, they demonstrated high levels of concentration and active engagement throughout the lecture. In this Seminar 1 course, students are learning research methods, and they applied their knowledge by analyzing the research methods that she used, such as research design, sampling methods, and data collection techniques. After her presentation, students actively asked questions. These included specific inquiries about her research, such as: “What could be the potential causes for the mediating relationship of perceived stress being found, but not for sense of control and neuroticism?” and “How were the exclusion criteria for sampling developed?”. There were also some general enquiries such as: “What should we do as undergraduate students now?” and “What are some tips for developing interesting research?”.
Overall, it became a fruitful opportunity for GLOMAC students to enhance their research skills and academic communication abilities.
