Robson Braga, Luiz Paulo Lopes Fávero and Renata Turola Takamatsu
The purpose of this paper is to evaluate investor behaviour related to the timing of selling financial assets based on an intuitive evaluation of the current market trend and…
Abstract
Purpose
The purpose of this paper is to evaluate investor behaviour related to the timing of selling financial assets based on an intuitive evaluation of the current market trend and growth expectation.
Design/methodology/approach
The experiment involved 1,052 volunteer participants who made decisions about stock sales in an environment that simulated a home broker platform to negotiate stocks. Zero-inflated regression models were used.
Findings
The results show that investors’ attitudes, or beliefs, determine whether they will buy or keep risky assets in their investment portfolios; they may decide to sell such assets, even though market shows an upward trend. Such results make a new contribution to behavioural finance within the context of prospect theory and the disposition effect.
Originality/value
The originality of this paper lies in the use of new and innovative techniques (zero-inflated Poisson and negative binomial regression models) applied to real data obtained experimentally.
Propósito
Este artigo estuda o comportamento de investidores relacionado ao momento da venda de ativos financeiros com base em uma avaliação intuitiva da tendência atual do mercado e da expectativa de crescimento.
Desenho/metodologia/abordagem
Nosso experimento envolveu 1,052 participantes voluntários que tomaram decisões sobre a venda de ações em um ambiente que simulava uma plataforma de corretagem para negociação. Foram utilizados modelos de regressão inflacionados de zeros.
Resultados
Os resultados mostram que as atitudes ou crenças dos investidores determinam se eles comprarão ou manterão ativos de risco em suas carteiras de investimento; eles podem decidir vender esses ativos, mesmo que o mercado mostre uma tendência ascendente. Tais resultados constituem uma nova contribuição para o campo das finanças comportamentais, dentro do contexto da teoria do prospecto e do efeito disposição.
Originalidade/valor
A originalidade deste artigo reside no uso de técnicas novas e inovadoras (modelos de regressão Poisson e binomial negativo inflacionados de zeros) aplicadas a dados reais obtidos experimentalmente.
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The objective of this paper is to assess the potential of Portuguese manufacturing firms with respect to two fundamental issues that have been at the core of important debates…
Abstract
The objective of this paper is to assess the potential of Portuguese manufacturing firms with respect to two fundamental issues that have been at the core of important debates about comparative advantages of small firms and large ones: (1) Employment: Using a database compiled between 1982 and 1992, we analyse the contribution of small firms to job creation. This analysis aims to consider the different aspects of firm mobility: Entry, expansion, contraction and exit. The results indicate that, in the period considered, only small firms created employment and that this creation is mainly associated with the expansion of young firms located in the Littoral North and Centre regions of Portugal. Nevertheless, when we consider only small firms that are incumbents in all the period, results indicate that job creation is a feature specific to a small number of fast‐growing small firms. The effects of the economic cycle were tested too, and it was found that employment creation by small firms is less sensitive to economic fluctuations, as reductions in employment in small firms do not seem to grow in crisis periods. (2) Technical efficiency: Independently from the job creation potential, it is important to evaluate whether small firms use economic resources in an efficient manner. To assess the efficiency of small businesses relative to large ones, we use plant‐level information, thereby specifying and estimating a translog production model. This model allows estimating and comparing returns of scale and substituting elasticities for both small and large production units, covering a large number of six‐digit sectors for the year 1995. Preliminary results suggest that: (I) There are significant differences in the production technology between large and small establishments; (ii) small establishments do not appear to be more flexible than large ones in factor substitution; (iii) large size is not a condition for efficiency in production. Therefore, considering the importance and weight small firms have upon the manufacturing industry employment volume, and the lack of any evidence regarding technical inefficiencies in the production, we may infer that small firms justify the public powers’ attention, while designing and implementing policies which would support their survival as well as their growth. Such policies should enhance and refine their labour (and management) qualification techniques as well as design better strategies for disseminating information and new technologies. In fact, these policies would most certainly promote the development of Portuguese small firms, turning them into more innovating, flexible and competitive ones, even in those industries which traditionally comprise large firms.
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Koorosh Gharehbaghi, Maged Georgy, Kathryn Mary Robson, Sara Wilkinson and Ken Farnes
Through an empirical study, this research proposes a multi-dimensional assessment method for Sustainable Building Design (SBD). This approach is adopted to investigate and…
Abstract
Purpose
Through an empirical study, this research proposes a multi-dimensional assessment method for Sustainable Building Design (SBD). This approach is adopted to investigate and evaluate the current practices of SBD and to provide a basis for refining such processes while reducing existing shortfalls. In doing so, a holistic sustainable framework for rating the sustainable performance of buildings is proposed.
Design/methodology/approach
To achieve the aforementioned purpose, this research (1) investigates the most current trends in SBD including the use of Building Information Modelling (BIM); (2) examines the practical issues of SBD; (3) proposes a multi-dimensional assessment method; and (4) compares 18 separate case studies in the three countries of Australia, United Kingdom and USA, as part of the SBD implementation. To compare these case studies, an additional SBD tool, Green Building Rating and Certification System (GBELS) was carefully selected and applied. Five core values of SBD were identified based on functionality, accessibility and productivity, which align with the GBELS outcomes.
Findings
This research found that, for the 18 examined buildings, the main issues in SBD in the three countries concerned environmental and ecological issues. These included the impacts of buildings on the environment, as well as issues concerning the buildings' life cycle analysis and assessment. It was also determined that energy usage, pollution reduction and climate change concerns were important inclusions in establishing these buildings, particularly in the USA.
Originality/value
To support the research aim, this paper explores the most innovative trends in SBD assessments including their Structural Health Monitoring (SHM), grade (stars) classification, Relative Weight (RW) and particularly GBELS. GBELS was selected for this research, since it is relatively new and there is little available literature discussing its adaptation. Accordingly, this research further evaluates the application of GBELS as a part of versatility in SBD multi-dimensional assessment method. As the basis of these tests, a total of 18 separate case studies are closely evaluated.
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Delfina Gomes, Garry D. Carnegie and Lúcia Lima Rodrigues
The purpose of this paper is to look at the adoption of double entry bookkeeping at the Royal Treasury, Portugal, on its establishment in 1761 and the factors contributing to this…
Abstract
Purpose
The purpose of this paper is to look at the adoption of double entry bookkeeping at the Royal Treasury, Portugal, on its establishment in 1761 and the factors contributing to this development. The Royal Treasury was the first central government organization in Portugal to adopt double entry bookkeeping and was a crucial first step in the institutionalisation of the technique in Portuguese public administration.
Design/methodology/approach
Set firmly in the archive, this paper adopts new institutional sociology (NIS) to inform the findings of the local, time‐specific accounting policy and practice at the Portuguese Royal Treasury.
Findings
Embedded within the broader European context, this study identifies the key pressures exerted upon the Royal Treasury on its formation in 1761, which resulted in major accounting change within Portuguese central government from that date. The study provides further evidence of the importance of the state in the institutionalization of accounting practices by means of coercive pressures and highlights for Portugal the importance of individual actors who, as powerful change agents, made key decisions that influenced accounting change.
Originality/value
This study examines a major instance of accounting change in European central government and broadens the application of NIS in accounting history research to a different country – Portugal – and to a different time – the eighteenth century. It also serves to illuminate the difficulties of collecting pertinent evidence pertaining to this long‐dated time period in identifying certain forms of institutional pressures.
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Paulo Sampaio, Pedro Saraiva and Pedro Domingues
In the past few years, management systems implementation and certification has become a common practice among different types of organizations. In this context, quality management…
Abstract
Purpose
In the past few years, management systems implementation and certification has become a common practice among different types of organizations. In this context, quality management systems certification, according to the ISO 9001 standard is in the spotlight, due to over than 1.000.000 certified organizations by the end of 2009. Quality management systems can be integrated with an increasing variety of other subsystems implemented according to other standards, including environmental systems, health and safety, social responsibility, R&D, risk, or human resources, and subsystems raised from specific standards designed for specific activity sectors (HACCP, automotive or aeronautics, medical devices, pharmaceuticals and software). Due to this evolution, careful attention should be taken on how these different subsystems have been and should be articulated, harmonized and integrated. Thus, this paper intends to approach different strategies to achieve integration, with several levels of intensity, depth and authenticity between the different subsystems, and report some final recommendations related with good practices assuring the efficiency and effectiveness of the integration process.
Design/methodology/approach
A case study methodology has supported this research. Three case studies were conducted on Portuguese companies that have an integrated quality, environmental and safety management system.
Findings
If the companies' strategy is to implement more than one management system, there is a clear advantage of doing it supported on an integrated approach, avoiding the development of organizational “islands” related to each subsystem. This organizational “archipelago” structure is completely far way from any global optimized solution, based on a holistic perspective.
Originality/value
Based on the conclusions that we were able to find out, this paper is an important contribution to the integrated management systems research area, because it states different integration approaches and levels of integration and what are the features that characterize each one of those approaches and levels.
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Issa Danjun Ying, Amanda McGraw and Amanda Berry
In this chapter, the relationship between self and community is addressed through inquiring into the impact of the International Study Association on Teachers and Teaching (ISATT…
Abstract
In this chapter, the relationship between self and community is addressed through inquiring into the impact of the International Study Association on Teachers and Teaching (ISATT) on the professional learning, teaching, and research of members specifically in the Asia-Pacific region. The authors employ qualitative methods, primarily self-study and narrative inquiry, and use descriptive statistics derived from survey responses to support their claims. The work not only speaks to ISATT’s significant shaping effects but also to historical and contemporary challenges the organization faces as it moves toward the future.
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The purpose of this study comprises the following three: (1) to ascertain the purpose of university module evaluation questionnaires (MEQs) and its reliability; (2) to evaluate…
Abstract
Purpose
The purpose of this study comprises the following three: (1) to ascertain the purpose of university module evaluation questionnaires (MEQs) and its reliability; (2) to evaluate University X's MEQ; and (3) to offer how Universities may be able to support their teaching staff with scholarship activities using the MEQ project.
Design/methodology/approach
University MEQ purposes and its reliability were investigated using literature reviews. The University X's MEQ seven statements were evaluated by three university academic staff. The study was conducted at a British university in South East of England. The duration of this interdisciplinary project was for two months which was a university interdisciplinary project between 14/07/20 and 13/10/20.
Findings
The purpose for MEQs includes (1) students’ satisfaction; (2) accountability for university authority and (3) teaching feedback and academic promotions for teaching staff. The evaluation of University X's MEQ indicated that MEQ questions were unclear which do not serve reliable student evaluation results. This topic may be of interest to University MEQ designers, lecturers, University Student Experience team, University Executive Board, University administrators and University HR senior management teams.
Originality/value
The following three points are considered original to this study: (1) MEQ purposes are summarised by students, university authority and teaching staff; (2) the evaluation of a British University MEQ; (3) provides suggestions on how lecturers' scholarship activities can be supported by the university-wide initiative and umbrella network. These are practical knowledge for the faculty and administrators of higher education institutions which may be of use.
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J. Carvalho, M. Fernandes, V. Lambert and I. Lapsley
The new public management (NPM) agenda is transforming the public sector in many countries. However, there have been criticisms of NPM, particularly over its emphasis on…
Abstract
Purpose
The new public management (NPM) agenda is transforming the public sector in many countries. However, there have been criticisms of NPM, particularly over its emphasis on quantification, results orientation and the measurement of performance to the possible detriment of service delivery. The purpose of this paper is to examine an important public service – the fire service – in differing contexts: the “mature” NPM setting of the UK, and a “late adopter” of NPM – Portugal.
Design/methodology/approach
This study is conducted by a combined methods approach. The principal focus of this study is on publicly available databases of performance indicators. The data are supported by additional material from operational officers in fire services, and from oversight bodies, obtained by interviews and by survey in Portugal.
Findings
This comparative study reaffirms the potential for NPM solutions to public service management. In particular, there is a case for carefully targeted key performance indicators in Portuguese fire services.
Originality/value
This paper makes an original contribution to ideas of NPM in action by focussing on performance measurement in different contexts. The comparative aspect of this paper is crucial as a means of assessing the portability of NPM ideas in different national settings.
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Cláudia Simões and Katy J. Mason
Firms face the challenge of working with other firms in their business network so as to increase the value of products and services offered to end customers and consumers. This…
Abstract
Purpose
Firms face the challenge of working with other firms in their business network so as to increase the value of products and services offered to end customers and consumers. This often requires managers to invest in developing strong and effective business‐to‐business relationships. While an extensive literature examines the different dimensions of successful business‐to‐business relationships, little research examines how perceived corporate identity is likely to influence market relationships. This paper aims to explore how a buyer and supplier draw on their own identities and the identities of each other in ways that enable them to develop a basis on which to conceptualise and operationalise a strategic sourcing relationship. Specifically, the paper seeks to investigate the emergent relationship identity that results from buyer‐seller interactions.
Design/methodology/approach
The paper uses an in‐depth, longitudinal case study of a buyer‐supplier relationship which involves an engineering buyer and design services supplier.
Findings
The study suggests that the corporate identity of companies involved in a relationship has a prominent role in informing and moulding the relationship. Further, the strategic scope of the analysed business relationship adds to the significance of corporate identity in informing the relationship and, ultimately, the business policy. Finally, a key contribution is the notion of “relationship identity”. Relationship identity conveys the idea that when companies develop a continuous relationship, the relationship itself has a unique identity.
Research limitations/implications
The research findings are based on a single case study. Additional research across multiple case studies is needed in order to verify the findings reported.
Originality/value
This paper addresses a gap in the literature concerning the areas of the role of corporate identity in business relationship development. The findings are important to research and practice with regard to how companies develop successful business‐to‐business relationships.
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Dora Yeboah, Masud Ibrahim and Kingsley Agyapong
This study aims to investigate the drivers that motivate employees and guests' hotel service participation to understand how that can influence the implementation of Value…
Abstract
Purpose
This study aims to investigate the drivers that motivate employees and guests' hotel service participation to understand how that can influence the implementation of Value Co-Creation (VCC) in sub-Saharan African context.
Design/methodology/approach
Using an interpretive paradigm, the study draws on 32 in-depth interviews, 6 focus group discussions involving 32 participants and participant observation field notes. Data were analysed using thematic analysis.
Findings
The study unravels nine motives that drive employee–guest VCC participation: passion, relationship, belongingness, shared and enhanced experiences, satisfaction, reputation development, openness, communication and rewards.
Research limitations/implications
This exploratory, cross-sectional study was undertaken in hotels within sub-Saharan Africa. Thus, findings cannot be generalised. However, it provides an opportunity for future quantitative approaches within different contexts involving other stakeholders.
Practical implications
Considering the numerous challenges from COVID-19 pandemic on the service industry, hotel managers might want to use the findings to not only formulate policies that support employee–guest co-creation for service improvement and survival but also introduce enhanced innovative service practices that deliver on employee and guest service expectations for retention. The findings encourage hotel managers to identify employee and guest context-specific motivations to be able to match with value-driven service activities, aimed at attracting positive behaviours to better respond to the numerous COVID-19-related challenges.
Originality/value
This work adds to the VCC literature by investigating the collective and individual drivers at the employee and guest dyadic level within sub-Saharan African hotel context. The authors propose a comprehensive model to guide the successful implementation of employee–guest VCC.