The traditional one-stage constant growth formula has two main underlying assumptions: a company will be able to maintain its competitive advantage for completed investments in…
Abstract
Purpose
The traditional one-stage constant growth formula has two main underlying assumptions: a company will be able to maintain its competitive advantage for completed investments in perpetuity, and each year in the future, it will be able to generate new investment opportunities with the same competitive advantage, which will also remain in perpetuity. The purpose of this paper is to develop a model that limits the duration of the competitive advantage.
Design/methodology/approach
A new model is developed, and it is used to value a public company.
Findings
In this study, the author introduces an alternative formula considering the duration of the competitive advantage, imposing a restriction on the fact that extraordinary returns cannot be sustained forever, and also separates the part of the value explained by the current investments from the portion of value created by future investments.
Originality/value
The traditional one-stage constant growth model used to determine the continuing value of a company has limitations regarding the duration of the competitive advantage. The developed formula corrects the problem limiting the time extraordinary returns will remain over time.
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Hyejin Kim, Tao (Tony) Deng, Juan Mundel and Jennifer Honeycutt
Juan Antonio Campos Soria and Luis Robles Teigeiro
The purpose of this study was to estimate the capacity of the predominant activity of the Hotel and Restaurant (H&R) sector to create female employment in European Union (EU…
Abstract
Purpose
The purpose of this study was to estimate the capacity of the predominant activity of the Hotel and Restaurant (H&R) sector to create female employment in European Union (EU) countries.
Design/methodology/approach
The methodology used was conducted in two stages. First, a branch employment multiplier was calculated using the Leontief input-output tables (IOTs), which show the direct and indirect capacity of the activity to generate female employment. Second, a regression model was estimated to explain the determinants of the female employment multiplier in the H&R sector. It should be noted that the reliability and simplicity of the proposed model allows countries without IOTs, but with gender-disaggregated labor statistics, to easily estimate their own female employment multiplier.
Findings
The results show that the job-creation capacity of the H&R sector significantly varies across the EU countries, especially in relation to the female employment multiplier. Although international differences in gender wage gaps help to explain such multipliers, institutional factors and feminization rate also play a key role.
Research limitations/implications
The results may contribute to improving the actions of member states to stimulate the sustainable development of the tourism sector.
Originality/value
Based on previous literature, the finding that higher tourism expenditure may result in increases in tourism employment gives rise to another set of interesting questions. The most fundamental of these may concern the nature of the economic underpinnings of the growth of female employment. This paper contributes to this issue by conducting a specific analysis across EU countries using a homogenous and comparable methodology.
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Yi-Ling Gao, Bengang Gong, Zhi Liu, Juan Tang and Chengfu Wang
Recycling and reuse of the electric vehicle (EV) batteries are ways to extend their limited lives. If batteries can be traced from production to recycling, it is beneficial for…
Abstract
Purpose
Recycling and reuse of the electric vehicle (EV) batteries are ways to extend their limited lives. If batteries can be traced from production to recycling, it is beneficial for battery recycling and reuse. Using blockchain technology to build a smart EV battery reverse supply chain can solve the difficulties of lack of trust and data. The purpose of this study is to discuss the behavioural evolution of a smart EV battery reverse supply chain under government supervision.
Design/methodology/approach
This study adopts evolutionary game theory to examine the decision-making behaviours of the government, EV manufacturers with recycled used batteries and third-party EV battery recyclers lacking professional recycling qualification.
Findings
On the smart reverse supply chain integrated by blockchain technology, a cooperative recycling strategy of the third-party EV battery recycler is the optimal choice when the government tends to actively regulate. The probability of the EV manufacturer choosing the blockchain adoption strategy exceeds (below) the threshold, and the government prefers negative (positive) supervision. According to numerical analysis, in the mature stage in the EV battery recycling industry, when the investment cost of applying blockchain is high, EV manufacturers' willingness to apply blockchain slows down, the government accelerates adopting a negative supervision strategy and third-party EV battery recyclers prefer cooperative recycling.
Practical implications
The results of this study provide opinions on the strength of government supervision and the conditions under which EV manufacturers and third-party EV battery recyclers should apply blockchain and cooperate. On the other hand, this study provides theoretical analysis for promoting the application of blockchain technology in smart reverse supply chain.
Originality/value
Compared with previous research, this study reveals the relevance of government supervision, blockchain application and cooperation strategy in smart EV battery reverse supply chain. In the initial stage, even if the subsidy (subsidy reduction rate) and penalty are high and the penalty reduction rate is low, the EV manufacturer should rather give up the application of blockchain technology. In the middle stage in the EV battery recycling industry, the government can set a lower subsidy (subsidy reduction rate) combined with a penalty or a higher penalty (penalty reduction rate) combined with a subsidy to supervise it. The third-party EV battery recycler is advised to cooperate with the EV manufacturer when the subsidy is low or the penalty is high.
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Juan Gabriel Brida, Nicolás Garrido and María Jesús Such Devesa
The purpose of this paper is to explain the onshore satisfaction of cruise passengers, in the port of call of Cartagena de Indias.
Abstract
Purpose
The purpose of this paper is to explain the onshore satisfaction of cruise passengers, in the port of call of Cartagena de Indias.
Design/methodology/approach
A questionnaire was given to 1,361 passengers of 28 cruise ships during October and November of 2009, then factor analysis and cluster analysis were employed.
Findings
The results suggest that although visitors held a high overall satisfaction of the onshore experience, there are two dimensions that require the attention of tourist policy makers: the city infrastructure (traffic, noise, cleanliness and infrastructure) and the general shopping experience. In particular, the worst experience seems to be related to street vendors. Moreover, there is evidence that tourists from the USA are more exigent of being fully satisfied.
Research limitations/implications
The survey was only conducted in the months of October and November. Future research can also include the repetition of the study in different seasons to compare results. The study shows that there is a good potential for the growth of tourism activity of the destination because over 52 per cent of the participants declared their intention of return to the city as land tourists and more than 60 per cent will recommend the destination to their friends.
Originality/value
The application of known methodologies to an emergent destination, in which many stakeholders are involved and concerned about cruise tourism evolution and its effects on the destination.
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Sumbul Zaman and Amirul Hasan Ansari
The purpose of this paper is to broaden the link between workplace flexibility (WF) and job engagement (JE) while considering quality of work life (QWL) as mediator and the use of…
Abstract
Purpose
The purpose of this paper is to broaden the link between workplace flexibility (WF) and job engagement (JE) while considering quality of work life (QWL) as mediator and the use of knowledge sharing (KS) as moderator. While numerous studies have focused solely on the importance of WF, QWL, KS and JE only exclusively, this study integrates them to delineate their association and to empirically assess the relationships. To advance an in-depth knowledge of these aspects, the study goes beyond the conventional findings.
Design/methodology/approach
In total, 378 employees from software firms in India participated in the questionnaire-based survey. It is a cross-sectional study. The proposed conceptual model and hypothesis were analyzed and tested by structural equation modeling and process macro. Drawing on the person environment (P-E) fit theory and social exchange theory, the authors discuss how QWL mediates and KS moderates the association between WF and JE.
Findings
Results indicate a positive association between WF and JE. Furthermore, it was found that QWL mediated and KS moderated this association.
Practical implications
Findings of the study will help the management to comprehend the significance QWL interventions in increasing their JE. This paper may encourage HR managers in the Information Technology (IT) industry to perceive the importance of KS. Moreover, the study accentuates flexible work options as essential phenomenon to positively impinge on the JE of employees in the IT sector.
Originality/value
The present study tries to enrich the extant research on WF and JE while it demonstrates the use of QWL interventions and KS as vital constructs that may significantly and positively influence JE.
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During this month the average librarian is given furiously to think over the estimates, and in this year, perhaps more than any other, will that adverb be applicable. The matter…
Abstract
During this month the average librarian is given furiously to think over the estimates, and in this year, perhaps more than any other, will that adverb be applicable. The matter is so important that we do not apologise for dealing with it once more. In March in nearly every town there will be a determined effort by men who call themselves “economists” to reduce the appropriation for public libraries. The war is the most handsome excuse that the opponents of public culture have ever had for their attacks upon the library movement. It is obvious that these attacks will take the direction of an endeavour to reduce the penny rate, where this has not been done already. In the year that has passed retrenchment has been the watchword of all municipal work, and many librarians have either ceased to buy new books or have bought only those of vital importance. This has meant that a certain amount of money usually devoted to books has accumulated. Seeing that legally money which has been raised for library purposes cannot be expended in any other direction, the only way in which the “economists” can work is to propose a reduction of next year's rate by an amount corresponding to the balance. It is an extraordinary thing that after decades of demonstration the average local public man cannot or will not see that money taken from the funds of a public library cannot be restored to it later. The limitation of the penny rate is nearly always forgotten or ignored, and the common phrase of such men: “You must economise now and we will give you more money after the war,” has been heard by most librarians. An endeavour should be made to drive home the fact that retrenchment in books, or in other matters in connexion with libraries, now means so much actual irreparable loss to the libraries. We have dealt several times in these pages with the vexed question of balances. Practice differs so much in different localities that it seems impossible to get any universal ruling in connexion with this matter. Many libraries have been able to invest their balances in some form of war loan ; in others the librarian has been told emphatically that such investment is illegal. We can speak of towns within five miles of each other in one of which money has been invested, and in the other investment is banned in this way. Unfortunately librarians have been rather silent upon this point, and it is difficult to obtain any reliable information as to how many towns have investments. It would strengthen the hands of many librarians if they knew that in so many other municipalities the library funds were so invested.
Gary D. Barber and Carol Burroughs Hammond
It has been two years since our “current” survey last appeared (RSR, Summer 1987). In that survey, we covered 1985 publications. For the sake of continuity, this new survey looks…
Abstract
It has been two years since our “current” survey last appeared (RSR, Summer 1987). In that survey, we covered 1985 publications. For the sake of continuity, this new survey looks at 28 titles from 1986 and 14 from 1987. All of them are still listed in Books in Print.
Effective strategic internal communication is instrumental for meaningful relationships and productive work climates within organizations and, therefore, for overall…
Abstract
Effective strategic internal communication is instrumental for meaningful relationships and productive work climates within organizations and, therefore, for overall organizational success. Currently, demographic shifts, the dramatically changing work environments because of pandemics and technology, and longer working lives challenge internal communication experts to assess the implications of generational differences for respective workforce target audiences. Effectively addressing the target audiences requires a focus on and understanding of their needs and behaviours. Surprisingly, little research has been conducted on the segmentation criteria of internal stakeholders, and even less on the implications of different generations for internal communication management. This study is novel as it discusses the value and practicality of different generations as a segmentation criterion for effective internal communication from the perspective of internal communication professionals. A multi-method qualitative research approach was employed, including 49 unstructured interviews, eight focus groups and 13 semi-structured interviews with internal communication professionals in Swiss companies on a strategic and operational level. The results show, first, that the segmentation of the internal audiences is dominated by traditional one-dimensional top-down stakeholder-oriented approaches. Second, while an awareness of the importance of generations is high and the need for multi-dimensional segmentation is evident, formal segmentation by generation is rarely implemented and remains controversial. Third, internal communication can foster more inclusive and productive workplaces by better considering the needs and preferences of the different internal segments and by simultaneously standardizing and customizing communication. The study also discusses inherent limitations and suggests avenues for future research.