This paper aims to give a brief review on behavioral economics and behavioral finance and discusses some of the previous research on agents' utility functions, applicable risk…
Abstract
Purpose
This paper aims to give a brief review on behavioral economics and behavioral finance and discusses some of the previous research on agents' utility functions, applicable risk measures, diversification strategies and portfolio optimization.
Design/methodology/approach
The authors also cover related disciplines such as trading rules, contagion and various econometric aspects.
Findings
While scholars could first develop theoretical models in behavioral economics and behavioral finance, they subsequently may develop corresponding statistical and econometric models, this finally includes simulation studies to examine whether the estimators or statistics have good power and size. This all helps us to better understand financial and economic decision-making from a descriptive standpoint.
Originality/value
The research paper is original.
Details
Keywords
The concept and practice of e-services has become essential in business transactions. Yet there are still many organizations that have not developed e-services optimally. This is…
Abstract
The concept and practice of e-services has become essential in business transactions. Yet there are still many organizations that have not developed e-services optimally. This is especially relevant in the context of Indonesian Airline companies. Therefore, many airline customers in Indonesia are still in doubt about it, or even do not use it. To fill this gap, this study attempts to develop a model for e-services adoption and empirically examines the factors influencing the airlines customers in Indonesia in using e-services offered by the Indonesian airline companies. Taking six Indonesian airline companies as a case example, the study investigated the antecedents of e-services usage of Indonesian airlines. This study further examined the impacts of motivation on customers in using e-services in the Indonesian context. Another important aim of this study was to investigate how ages, experiences and geographical areas moderate effects of e-services usage.
The study adopts a positivist research paradigm with a two-phase sequential mixed method design involving qualitative and quantitative approaches. An initial research model was first developed based on an extensive literature review, by combining acceptance and use of information technology theories, expectancy theory and the inter-organizational system motivation models. A qualitative field study via semi-structured interviews was then conducted to explore the present state among 15 respondents. The results of the interviews were analysed using content analysis yielding the final model of e-services usage. Eighteen antecedent factors hypotheses and three moderating factors hypotheses and 52-item questionnaire were developed. A focus group discussion of five respondents and a pilot study of 59 respondents resulted in final version of the questionnaire.
In the second phase, the main survey was conducted nationally to collect the research data among Indonesian airline customers who had already used Indonesian airline e-services. A total of 819 valid questionnaires were obtained. The data was then analysed using a partial least square (PLS) based structural equation modelling (SEM) technique to produce the contributions of links in the e-services model (22% of all the variances in e-services usage, 37.8% in intention to use, 46.6% in motivation, 39.2% in outcome expectancy, and 37.7% in effort expectancy). Meanwhile, path coefficients and t-values demonstrated various different influences of antecedent factors towards e-services usage. Additionally, a multi-group analysis based on PLS is employed with mixed results. In the final findings, 14 hypotheses were supported and 7 hypotheses were not supported.
The major findings of this study have confirmed that motivation has the strongest contribution in e-services usage. In addition, motivation affects e-services usage both directly and indirectly through intention-to-use. This study provides contributions to the existing knowledge of e-services models, and practical applications of IT usage. Most importantly, an understanding of antecedents of e-services adoption will provide guidelines for stakeholders in developing better e-services and strategies in order to promote and encourage more customers to use e-services. Finally, the accomplishment of this study can be expanded through possible adaptations in other industries and other geographical contexts.
Details
Keywords
Zhen Chen, Heng Li and Conrad T.C. Wong
Although the Trip‐ticket System (TTS) has been implemented to manage construction and demolition (C&D) waste in Hong Kong for over three years, problems still exist in the…
Abstract
Although the Trip‐ticket System (TTS) has been implemented to manage construction and demolition (C&D) waste in Hong Kong for over three years, problems still exist in the landfill disposal of the C&D waste. For example, it is reported that fees are difficult to collect from waste transporters for tipping the C&D waste at the landfill site. Based on an examination of the flexibility of the TTS, this paper proposes an e‐commerce model, namely the Webfill system, in order to enhance the TTS. The computational structure of the Webfill system is described and the usefulness of Webfill is evaluated based on a simulation which provides a direct comparison between the existing TTS and the Webfill‐enhanced TTS.
Details
Keywords
Zhen Chen, Heng Li, Stephen C.W. Kong and Qian Xu
This paper aims to introduce a knowledge‐based managemental prototype entitled E+ for environmental‐conscious construction relied on an integration of current environmental…
Abstract
This paper aims to introduce a knowledge‐based managemental prototype entitled E+ for environmental‐conscious construction relied on an integration of current environmental management tools in construction area. The overall objective of developing the E+ prototype is to facilitate selectively reusing the retrievable knowledge in construction engineering and management areas assembled from previous projects for the best practice in environmental‐conscious construction. The methodologies adopted in previous and ongoing research related to the development of the E+ belong to the operations research area and the information technology area, including literature review, questionnaire survey and interview, statistical analysis, system analysis and development, experimental research and simulation, and so on. The content presented in this paper includes an advanced E+ prototype, a comprehensive review of environmental management tools integrated to the E+ prototype, and an experimental case study of the implementation of the E+ prototype. It is expected that the adoption and implementation of the E+ prototype can effectively facilitate contractors to improve their environmental performance in the lifecycle of projectbased construction and to reduce adverse environmental impacts due to the deployment of various engineering and management processes at each construction stage.
Details
Keywords
Mohsen Sadeghi Dastaki, Abbas Afrazeh and Masoud Mahootchi
Over the past years, many studies have explored the role of knowledge management (KM) in companies. KM is concerned with the measurement of knowledge to manage knowledge…
Abstract
Purpose
Over the past years, many studies have explored the role of knowledge management (KM) in companies. KM is concerned with the measurement of knowledge to manage knowledge efficiently. On the other hand, the intangible nature of knowledge makes its measurement challenging. Furthermore, there is no standardized method to measure knowledge, and it is chiefly measured based on the subjective judgment of researchers. Moreover, New Product Development (NPD) departments in many companies strive to assess their knowledge in terms of company products and knowledge workers. Hence, this study aims to propose a product-based two-phase technique that measures the company knowledge inventory.
Design/methodology/approach
In the first phase, the value of knowledge is quantified relative to products, knowledge workers and the entire company using two concepts of knowledge width and depth. Then, a three-dimensional knowledge asset map (knowledge, products and knowledge worker dimensions) is designed to assess and audit knowledge workers. Finally, this technique recruits an integer linear programming model with a cost minimization objective function to optimize the supply of NPD knowledge requirements in the second phase.
Findings
This model enables managers to determine what type of knowledge can be supplied by existing knowledge workers, whether within the company or by other external sources.
Originality/value
Among existing knowledge measurement methods, only a few use a product-based measuring technique. However, they fail to offer suitable scenarios for managers' decision-making process and consider cost structures in measurement techniques. Hence, this paper attempts to overcome these drawbacks.
Details
Keywords
This bibliography is offered as a practical guide to published papers, conference proceedings papers and theses/dissertations on the finite element (FE) and boundary element (BE…
Abstract
This bibliography is offered as a practical guide to published papers, conference proceedings papers and theses/dissertations on the finite element (FE) and boundary element (BE) applications in different fields of biomechanics between 1976 and 1991. The aim of this paper is to help the users of FE and BE techniques to get better value from a large collection of papers on the subjects. Categories in biomechanics included in this survey are: orthopaedic mechanics, dental mechanics, cardiovascular mechanics, soft tissue mechanics, biological flow, impact injury, and other fields of applications. More than 900 references are listed.
Details
Keywords
Leonardo B. Barbosa, Jorge Carneiro, Camila Costa, Filip De Beule, Rafael Goldszmidt and T. Diana Macedo-Soares
Through a systematic review of the literature, this study analyzes the empirical literature on the adoption of environmental sustainability strategies in order to identify (i) the…
Abstract
Through a systematic review of the literature, this study analyzes the empirical literature on the adoption of environmental sustainability strategies in order to identify (i) the main conceptual aspects by which environmental sustainability strategies can be conceived of, (ii) the main determinants of the adoption of such strategies, (iii) the expected impacts on the company’s international performance, as well as (iv) the mechanisms that mediate the effect of environmental sustainability strategies on international performance. This study thereby offers propositions about the relationships between environmental sustainability strategies, their determinants (both in relation to the institutional environment and to the company’s domain), and their performance implications.
Details
Keywords
Lin Sun, Chunxia Yu, Jing Li, Qi Yuan and Shaoqiong Zhao
The paper aims to propose an innovative two-stage decision model to address the sustainable-resilient supplier selection and order allocation (SSOA) problem in the single-valued…
Abstract
Purpose
The paper aims to propose an innovative two-stage decision model to address the sustainable-resilient supplier selection and order allocation (SSOA) problem in the single-valued neutrosophic (SVN) environment.
Design/methodology/approach
First, the sustainable and resilient performances of suppliers are evaluated by the proposed integrated SVN-base-criterion method (BCM)-an acronym in Portuguese of interactive and multi-criteria decision-making (TODIM) method, with consideration of the uncertainty in the decision-making process. Then, a novel multi-objective optimization model is formulated, and the best sustainable-resilient order allocation solution is found using the U-NSGA-III algorithm and TOPSIS method. Finally, based on a real-life case in the automotive manufacturing industry, experiments are conducted to demonstrate the application of the proposed two-stage decision model.
Findings
The paper provides an effective decision tool for the SSOA process in an uncertain environment. The proposed SVN-BCM-TODIM approach can effectively handle the uncertainties from the decision-maker’s confidence degree and incomplete decision information and evaluate suppliers’ performance in different dimensions while avoiding the compensatory effect between criteria. Moreover, the proposed order allocation model proposes an original way to improve sustainable-resilient procurement values.
Originality/value
The paper provides a supplier selection process that can effectively integrate sustainability and resilience evaluation in an uncertain environment and develops a sustainable-resilient procurement optimization model.
Details
Keywords
Le Ma, Richard Reed and Xiaohua Jin
Due to the complicated nature of houses, the driving factors of the residential construction output can be investigated from different perspectives of interests. However, little…
Abstract
Purpose
Due to the complicated nature of houses, the driving factors of the residential construction output can be investigated from different perspectives of interests. However, little research has provided an insight of the trend of the residential construction output from a cross-disciplinary perspective. The purpose of this paper is to identify the long-run equilibrium types of residential construction output, including external equilibrium, solo-market equilibrium and dual-market equilibrium.
Design/methodology/approach
A vector error correction model is applied into longitudinal data in the eight Australian states and territories to overview the regional variations of the residential construction output.
Findings
The empirical results show that the equilibrium of regional residential construction outputs in New South Wales and Victoria are determined by the external factors; the equilibrium in Western Australia is dominated by the construction market; and the equilibriums in the other five states and territories are influenced by both construction and house markets.
Research limitations/implications
The simplified approach may overlook the detailed explanation of the external factors, such as regional population, economy, policy and so forth. Given this limitation, future studies can introduce the correspondingly variables as per research interests.
Originality/value
Implementing the existing research into residential construction output and house supply, this research provides a simplified approach that demonstrates the linkage between construction and real estate sectors to identify the long-run equilibriums across regions. The underlying research sheds light in delivering inter-disciplinary research into the residential construction output.