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1 – 10 of 18Evangelos Vasileiou, Elroi Hadad and Georgios Melekos
The objective of this paper is to examine the determinants of the Greek house market during the period 2006–2022 using not only economic variables but also behavioral variables…
Abstract
Purpose
The objective of this paper is to examine the determinants of the Greek house market during the period 2006–2022 using not only economic variables but also behavioral variables, taking advantage of available information on the volume of Google searches. In order to quantify the behavioral variables, we implement a Python code using the Pytrends 4.9.2 library.
Design/methodology/approach
In our study, we assert that models relying solely on economic variables, such as GDP growth, mortgage interest rates and inflation, may lack precision compared to those that integrate behavioral indicators. Recognizing the importance of behavioral insights, we incorporate Google Trends data as a key behavioral indicator, aiming to enhance our understanding of market dynamics by capturing online interest in Greek real estate through searches related to house prices, sales and related topics. To quantify our behavioral indicators, we utilize a Python code leveraging Pytrends, enabling us to extract relevant queries for global and local searches. We employ the EGARCH(1,1) model on the Greek house price index, testing several macroeconomic variables alongside our Google Trends indexes to explain housing returns.
Findings
Our findings show that in some cases the relationship between economic variables, such as inflation and mortgage rates, and house prices is not always consistent with the theory because we should highlight the special conditions of the examined country. The country of our sample, Greece, presents the special case of a country with severe sovereign debt issues, which at the same time has the privilege to have a strong currency and the support and the obligations of being an EU/EMU member.
Practical implications
The results suggest that Google Trends can be a valuable tool for academics and practitioners in order to understand what drives house prices. However, further research should be carried out on this topic, for example, causality relationships, to gain deeper insight into the possibilities and limitations of using such tools in analyzing housing market trends.
Originality/value
This is the first paper, to the best of our knowledge, that examines the benefits of Google Trends in studying the Greek house market.
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Teresa Fernandes, Francisco Guzman and Mafalda Mota
Consumers increasingly expect brands to have a social purpose. Yet, guidelines on how to effectively engage in conscientious purpose-driven branding are lacking. This study aims…
Abstract
Purpose
Consumers increasingly expect brands to have a social purpose. Yet, guidelines on how to effectively engage in conscientious purpose-driven branding are lacking. This study aims to better understand what the key drivers of a successful conscientious purpose-driven branding strategy are and what is its impact on key brand outcomes.
Design/methodology/approach
Data was gathered using a self-administered survey, answered by 670 young adults belonging to generations Y and Z. The study integrates in a single moderated-mediation model, tested using partial least squares structural equation modelling, the joint effects of cause–brand–consumer congruences, cause-brand authenticity and brand image, on consumers’ intention to purchase and recommend the brand.
Findings
Consumer-brand congruence mediates the path from cause-brand congruence and authenticity to brand image, which in turn impacts purchase and recommendation intentions, with authenticity playing a dominant role. Moreover, for consumers highly congruent with the cause/purpose, the direct effect of cause-brand congruence on brand image becomes non-significant and only works through consumer-brand congruence.
Originality/value
Theoretically, this study contributes to a better understanding of how and when conscientious purpose-driven branding can be effective. Its findings further advance prior research, by providing an alternative path anchored on cause-brand authenticity to explain positive effects of conscientious purpose-driven marketing on brand outcomes. Moreover, it challenges prior assumptions regarding the impact of consumer-cause congruence on the effectiveness of these strategies. Finally, it highlights that cause-consumer and brand-consumer congruencies also play a role, offering an integrated, triadic view of conscientious purpose-driven branding strategies. Managerially, it provides insights to brand managers wishing to successfully implement these strategies and better understand the role of brands as “purpose-driven entities”.
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Eric J. McNulty, Barry C. Dorn, Eric Goralnick, Richard Serino, Jennifer O. Grimes, Lisa Borelli Flynn, Melani Cheers and Leonard J. Marcus
To explicate the qualities of cooperation among leaders and their organizations during crisis, we studied the response to the 2013 Boston Marathon bombings. Through interviews and…
Abstract
To explicate the qualities of cooperation among leaders and their organizations during crisis, we studied the response to the 2013 Boston Marathon bombings. Through interviews and analysis, we discovered leaders successfully overcame obstacles that typically undermine collective crisis response. Qualitative analysis revealed five guiding behavioral principles that appeared to stimulate effective inter-agency leadership collaboration in high stakes. We draw upon concepts of collective leadership and swarm intelligence to interpret our observations and translate the findings into leader practices. We focus on replicable aspects of a meta- phenomenon, where collective action was greater than the sum of its parts; we do not evaluate individual leader behavior. Our findings provide a starting point for deeper exploration of how to bolster public safety by catalyzing enhanced inter-agency leadership behavior.
Ben M. Roberts, David Allinson and Kevin J. Lomas
Accurate values for infiltration rate are important to reliably estimate heat losses from buildings. Infiltration rate is rarely measured directly, and instead is usually…
Abstract
Purpose
Accurate values for infiltration rate are important to reliably estimate heat losses from buildings. Infiltration rate is rarely measured directly, and instead is usually estimated using algorithms or data from fan pressurisation tests. However, there is growing evidence that the commonly used methods for estimating infiltration rate are inaccurate in UK dwellings. Furthermore, most prior research was conducted during the winter season or relies on single measurements in each dwelling. Infiltration rates also affect the likelihood and severity of summertime overheating. The purpose of this work is to measure infiltration rates in summer, to compare this to different infiltration estimation methods, and to quantify the differences.
Design/methodology/approach
Fifteen whole house tracer gas tests were undertaken in the same test house during spring and summer to measure the whole building infiltration rate. Eleven infiltration estimation methods were used to predict infiltration rate, and these were compared to the measured values. Most, but not all, infiltration estimation methods relied on data from fan pressurisation (blower door) tests. A further four tracer gas tests were also done with trickle vents open to allow for comment on indoor air quality, but not compared to infiltration estimation methods.
Findings
The eleven estimation methods predicted infiltration rates between 64 and 208% higher than measured. The ASHRAE Enhanced derived infiltration rate (0.41 ach) was closest to the measured value of 0.25 ach, but still significantly different. The infiltration rate predicted by the “divide-by-20” rule of thumb, which is commonly used in the UK, was second furthest from the measured value at 0.73 ach. Indoor air quality is likely to be unsatisfactory in summer when windows are closed, even if trickle vents are open.
Practical implications
The findings have implications for those using dynamic thermal modelling to predict summertime overheating who, in the absence of a directly measured value for infiltration rate (i.e. by tracer gas), currently commonly use infiltration estimation methods such as the “divide-by-20” rule. Therefore, infiltration may be overestimated resulting in overheating risk and indoor air quality being incorrectly predicted.
Originality/value
Direct measurement of air infiltration rate is rare, especially multiple tests in a single home. Past measurements have invariably focused on the winter heating season. This work is original in that the tracer gas technique used to measure infiltration rate many times in a single dwelling during the summer. This work is also original in that it quantifies both the infiltration rate and its variability, and compares these to values produced by eleven infiltration estimation methods.
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Entrepreneurs prioritise and act on purposeful endeavours instigated to actions by the visions of profits and benefits in the perceived opportunities. In the state of maximum…
Abstract
Purpose
Entrepreneurs prioritise and act on purposeful endeavours instigated to actions by the visions of profits and benefits in the perceived opportunities. In the state of maximum entropy, with disorderliness and disequilibrium, entrepreneurs select the preferred pathway, through the profit-sensing mechanism, with the best probability of success to bet on. Therefore, this paper unpacks the forces at work in the mechanism to explain how entrepreneurs respond to opportunity and interpret the signals to coalesce into organised actions.
Design/methodology/approach
This research is primarily a conceptual paper on entrepreneurial action and the mechanism leading to that action. It refers to thermodynamic principles and biological cases to explain the forces at work using mostly analogical comparisons and similarities.
Findings
This paper aims to present an alternative theoretical scaffolding for entrepreneurship researchers to explore non-rational entrepreneurial behaviours and actions in uncertain, unstable and non-equilibrium environments, thereby creating new and competing hypotheses under the backdrop of adaptive evolution and thermodynamics phenomena.
Research limitations/implications
The discussion featuring instinctively and naturally forming responses cannot fully explain the real entrepreneurial action as there is an element of free will and choices that are not discussed. While strategic choice and free-will shape decisions, they are preceded first by the attraction of the gradients and the biased motion in the direction of profit-attractant.
Practical implications
There remain essential links and issues not addressed in this “natural science”, constituting life science and physical science, oriented entrepreneurship research and exploration. Conceptualising opportunity-as-artefact and entrepreneurship as design, significant incidences of entrepreneurial actions can be explained by the presence of gradients stimulating entrepreneurial actions.
Social implications
This viewpoint of information causality in opportunity-as-artefact casts a new look at the venerable question of what causes entrepreneurial actions. Shane and Venkataraman brought into focus this conversation, initiating the conceptual definition of opportunity. To have entrepreneurship, entrepreneurial opportunities must come first. Figuring the signals arising from these opportunities and cueing entrepreneurs to action is the main focus of this study.
Originality/value
Considering the “mechanism” at work and the thermodynamical forces at play, the entrepreneurial design process appears to hold considerable promise for future research development.
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Babatunde Fatai Ogunbayo, Clinton Ohis Aigbavboa, Wellington Didibhuku Thwala, Opeoluwa Israel Akinradewo and David Edwards
Maintenance policy is an element of building maintenance management that deals with organisation policy, planning and procedures, and delineates how maintenance units in an…
Abstract
Purpose
Maintenance policy is an element of building maintenance management that deals with organisation policy, planning and procedures, and delineates how maintenance units in an organisation will manage specific building components, auxiliary facilities and services. Given this contextual setting, this study investigates whether organisational maintenance policies (OMPs) utilised in developed countries are relevant in developing countries – using Nigeria as a case study exemplar.
Design/methodology/approach
An empirical research design (using deductive reasoning) was implemented for this research. Specifically, a Delphi study conducted revealed 23 elements that impact OMP development in Nigeria.
Findings
Of these twenty elements, six had a very high impact on maintenance management (VHI: 9.00–10.00), nine variables had a high impact (HI: 7.00–8.99) and eight other variables scored a medium impact (MI: 5.00–6.99). Emergent findings reveal that the elements of organisational maintenance policy that engender effective building maintenance management include preparation of safety procedure, optimisation of the maintenance policy, optimisation of the maintenance action plan, well-defined priority system, risk factor establishment, suitable maintenance procedures and a clearly delineated process.
Practical implications
The study findings will guide policymakers in identifying the main elements required in maintenance policies development towards making national public asset preservation and economic gains. Also, the content of the future educational curriculum on maintenance management study will be more receptive to the body of knowledge and the built environment industry.
Originality/value
Cumulatively, the research presented illustrates that these elements replicate those adopted in other countries and that effective maintenance management of public buildings is assured when these elements are integral to the development of an OMP.
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Magnus Jansson, Magnus Roos and Tommy Gärling
This paper aims to investigate whether loan officers' risk taking in credit decisions are associated with their personal financial risk preference and personality traits or solely…
Abstract
Purpose
This paper aims to investigate whether loan officers' risk taking in credit decisions are associated with their personal financial risk preference and personality traits or solely with bank-contextual and loan-relevant factors.
Design/methodology/approach
An online survey administered in six large Swedish banks to 163 loan officers responsible for assessing credit risk and approval of loan applications. The loan officers rated their likelihood of approving fictitious loan applications from business companies.
Findings
The loan officers' credit risk taking is associated with bank-contextual factors, directly with perceived organizational credit risk norms and indirectly with self-confidence in assessing credit risks through attitude to credit risk taking. A direct association is also found with personal financial risk preference but not with personality traits.
Research limitations/implications
Increased awareness of that loan officers' personal financial risk preference is associated with their credit risk taking in loan decisions but that the banks' risk policy has a stronger association. Banks' managements and boards should therefore assure that their credit risk policy is implemented, followed and being aligned with their performance incentives.
Practical implications
Increased awareness of that loan officers' credit risk taking is associated with personal financial risk preference but more strongly with the banks' risk policy that motivate banks' managements and boards to assure that their credit risk policy is implemented, followed and being aligned with their performance incentives.
Originality/value
The first study which directly compare the associations of loan officers' risk taking in credit approvals with personal risk preference and personality traits versus bank-contextual factors and loan-relevant information.
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Aymen Ben Rejeb and Mongi Arfaoui
The purpose of this paper is to investigate whether Islamic stock indexes outperform conventional stock indexes, in terms of informational efficiency and risk, during the recent…
Abstract
Purpose
The purpose of this paper is to investigate whether Islamic stock indexes outperform conventional stock indexes, in terms of informational efficiency and risk, during the recent financial instability period.
Design/methodology/approach
The paper uses a state space model combined with a standard GARCH(1,1) specification while taking into account structural breakpoints. The authors allow for efficiency and volatility spillovers to be time-varying and consider break dates to locate periods of financial instability.
Findings
Empirical results show that Islamic stock indexes are more volatile than their conventional counterparts and are not totally immune to the global financial crisis. As regards of the informational efficiency, the results show that the Islamic stock indexes are more efficient than the conventional stock indexes.
Practical implications
Resulting evidence of this paper has several implications for international investors who wish to invest in Islamic and/or conventional stock markets. Policy makers and even academics and Sharias researchers should as well take preventive measures in order to ensure the stability of Islamic stock markets during turmoil periods. Overall, prudent risk management and precocious financial practices are relevant and crucial for both Islamic and conventional financial markets.
Originality/value
The originality of this study is performed by the use of time-varying models for volatility spillovers and informational efficiency. It considers structural break dates that think about the dynamic effect of informational flows on stock markets. The study was developed in a global framework using international data. The global analysis allows avoiding country specific effects.
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Drawing on media richness theory and a framework of interpersonal communication goals, this study investigates how and why the IT industry's top managers use communication media…
Abstract
Purpose
Drawing on media richness theory and a framework of interpersonal communication goals, this study investigates how and why the IT industry's top managers use communication media to achieve their interaction goals in e-leadership.
Design/methodology/approach
A qualitative research approach is applied to understand top managers' communication media use and interaction goals. The empirical data were gathered through semi-structured interviews with 33 top managers from large IT companies and analysed using theory-guided thematic and ideal-type analyses.
Findings
Top managers were categorized into three types, based on their communication goals through face-to-face communication. Relationship-oriented top managers pursued relational and communal goals, whereas task-oriented ones wished to achieve instrumental and communal goals. Task- and relationship-oriented top managers pursued relational, instrumental, and communal goals. This study indicates that communal, instrumental, relational, and self-presentational goals influence managers' communication media selection.
Originality/value
This study brings new knowledge to the management communication research field. It expands the framework of interpersonal communication goals by identifying communal goals as a new category, in addition to existing instrumental, relational and self-presentational goals. This study suggests that media richness theory could be advanced by recognizing that a broader set of communication goals – including communal, instrumental, relational, and self-presentational – influences managers' communication media selection.
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Luigi Mersico, Selena Aureli and Eleonora Foschi
This study aims to explore how digital platforms (DPs) contribute to value co-creation in municipal solid waste (MSW) management systems.
Abstract
Purpose
This study aims to explore how digital platforms (DPs) contribute to value co-creation in municipal solid waste (MSW) management systems.
Design/methodology/approach
The present paper conducts an explorative analysis using single case study methodology. The case in question involves a DPs operating in Italy.
Findings
Empirical analysis shows that DPs help engage citizens in MSW and reduce the fragmentation in waste management systems by fulfilling a brokerage role that connects citizens, municipalities and waste management companies. The development of bidirectional knowledge and resource flow among actors contributes to better waste recycling processes, as well as fosters economic, environmental and social value co-creation in a complex public service.
Research limitations/implications
This research is limited to a single case study within the Italian context, which may influence the generalizability of the findings. Future research could expand the scope to include multiple case studies across different geographical regions.
Practical implications
For practitioners and policymakers, this paper underscores the strategic benefits of adopting DPs in MSW management systems and thereby improving public service delivery.
Social implications
The case analysis highlights that DPs can assist public actors in achieving numerous sustainable development goals by enhancing recycling rates and activating learning mechanisms among citizens.
Originality/value
This study contributes to literature by connecting different fields of research (i.e. waste management and public management) and using network theory to show how DPs can contribute to the economic, environmental and social sustainability of MSW while generating relevant benefits for the actors involved.
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