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.
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Chu‐hua Kuei Ph D., Christian N. Madu Ph D., Wing S. Chow, D. Ph and Min H. Lu
There exists an association between Supply Chain Quality Management(SCQM) and supply chain competence. To verify such claims, data wascollected from Hong Kong based firms. The…
Abstract
There exists an association between Supply Chain Quality Management (SCQM) and supply chain competence. To verify such claims, data was collected from Hong Kong based firms. The data showed in most cases an association could be established between SCQM initiatives and the supply chain competence. Some fi rms with SCQM initiatives tend to perform better in terms of customer service or product quality. Supply chains managers may therefore, perform better when their managerial foci are consistent with recognized dimensions of supply chain quality and excellence. In today’s global economy supply chain management is crucial in achieving organizational effectiveness.
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Xu Chen, Yingliang Wu, Junfeng Liao, Wenming Zuo and Rujie Zhong
The incentive cost of enterprises increases significantly with the rapid growth of the social commerce (SC) market. In this context, enterprises need to develop the optimal…
Abstract
Purpose
The incentive cost of enterprises increases significantly with the rapid growth of the social commerce (SC) market. In this context, enterprises need to develop the optimal strategy to improve incentive effectiveness and reduce cost. Different types of consumers’ responses to incentives bring different values to enterprises. Hence, this paper proposes the social commerce value network (SCVN) to help enterprises study the contributions of different types of consumers to the network.
Design/methodology/approach
Based on the graphical evaluation and review technique (GERT), the authors construct the social commerce value GERT (i.e. SCV-GERT) network and design three progressive experiments for estimating the value contributions of “network stage”, “consumer type”, and “resource type” to the SCVN under the same incentives. The authors initialize the SCV-GERT model with consumer data in SC and distinguish the most valuable consumers by adjusting the incentive parameters.
Findings
The results show that the SCV-GERT model can well describe the value flow of SCVN. The incentive on forwarding consumers brings the greatest value gain to the SCVN, and social trust contributes the most to forwarding consumers.
Practical implications
Under the guidance of the results, platforms and enterprises in SC can select the optimal type of consumers who bring the maximum network value so as to improve the effectiveness of incentive strategy and reduce marketing costs. A four-level incentive system should be established according to the ranking of the corresponding value gains: forwarding consumers > agent consumers > commenting consumers > potential consumers. Enterprises also need to find ways to improve the social resource investments of consumers participating in SC.
Originality/value
This paper investigates the incentive problem in SC grounded in the SCVN and uses the GERT method to construct the SCV-GERT model, which is the first attempt to introduce GERT into the SC context. This study also makes up for the lack of comparative research on different types of consumers in SC and can provide support for enterprises’ customer relationship management and marketing decisions.
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Md Delwar Hossain, Md Kamrul Hassan, Anthony Chun Yin Yuen, Yaping He, Swapan Saha and Waseem Hittini
The purpose of this study is to review and summarise the existing available literature on lightweight cladding systems to provide detailed information on fire behaviour…
Abstract
Purpose
The purpose of this study is to review and summarise the existing available literature on lightweight cladding systems to provide detailed information on fire behaviour (ignitibility, heat release rate and smoke toxicity) and various test method protocols. Additionally, the paper discusses the challenges and provides updated knowledge and recommendation on selective-fire mechanisms such as rapid-fire spread, air cavity and fire re-entry behaviours due to dripping and melting of lightweight composite claddings.
Design/methodology/approach
A comprehensive literature review on fire behaviour, fire hazard and testing methods of lightweight composite claddings has been conducted in this research. In summarising all possible fire hazards, particular attention is given to the potential impact of toxicity of lightweight cladding fires. In addition, various criteria for fire performance evaluation of lightweight composite claddings are also highlighted. These evaluations are generally categorised as small-, intermediate- and large-scale test methods.
Findings
The major challenges of lightweight claddings are rapid fire spread, smoke production and toxicity and inconsistency in fire testing.
Originality/value
The review highlights the current challenges in cladding fire, smoke toxicity, testing system and regulation to provide some research recommendations to address the identified challenges.
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Martin Lyubomirov Ivanov, Wan Ki Chow, Tsz Kit Yue, Hing Lung Tsang and Wei Peng
The purpose of this paper is to check and fill the gap between the existing fire safety regulations for newly built tall buildings in Bulgaria and those in areas with rapid…
Abstract
Purpose
The purpose of this paper is to check and fill the gap between the existing fire safety regulations for newly built tall buildings in Bulgaria and those in areas with rapid economic growth in the Asia-Oceania regions like the Hong Kong Special Administrative Region and Mainland China, by making comparative analysis and identifying good practices. The main focus is on the development of fire safety designs, facilities and management, which shall be recognized as essential parts of facility management in tall buildings.
Design/methodology/approach
Bulgarian regulations are analyzed and then compared with those in the Hong Kong Special Administrative Region and Mainland China. In addition, the scientific aspect of fire load density in the fire codes is discussed. The possibility of implementing a fire engineering approach to supplement prescriptive codes is outlined. The essential roles of fire safety management and fire safety culture are presented.
Findings
Key points and recommendations that are worthy for discussion about incorporation in the Bulgarian tall buildings fire safety requirements are upgraded requirements for fire load density, detection and sprinkler systems in tall residential buildings, refuge floors, ventilation/air conditioning control systems, full-scale burning tests and fire engineering approach. The importance of fire safety management is emphasized as a main, key component in facility management.
Originality/value
The research is the first study focusing on implementation of additional and specific fire safety regulations for tall buildings in Bulgaria.
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Kuo-Chung Shang and Peter B. Marlow
Logistics and supply chain management has been elevated to a strategic level whereby firms can simultaneously achieve differentiation and low cost for sustained competitive…
Abstract
Logistics and supply chain management has been elevated to a strategic level whereby firms can simultaneously achieve differentiation and low cost for sustained competitive advantage. Empirical studies have often concentrated on logistics management in developed Western countries, displaying a bias towards the USA. This study applies the competency approach to explore logistics in Taiwan. A survey of 1,200 manufacturing firms was undertaken in order to examine the relationships between logistics competency, logistics performance, and financial performance, using exploratory factor analysis and the structural equation modelling technique. Four logistics competencies, namely, integration and knowledge competency, customer focused logistics competency, measurement competency, and agility competency were identified. The research findings revealed that (1) logistics competency was significantly related to logistics performance but not significantly associated with financial performance, and (2) logistics performance was positively associated with financial performance. These findings also implied that logistics competency has an indirect effect on financial performance through logistics performance. This finding confirmed the “world-class” logistics competencies (i.e. positioning, integration, agility, and measurement) as identified by MSUGLRT (1995). In addition, it suggests that logistics competency in a huge geographic area such as America can have the same effect in a smaller geographic area such as Taiwan.
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Wilson K.S. Leung, Si Shi and Wing S. Chow
The purpose of this paper is to understand the effect of two types of reciprocity (restricted reciprocity and generalized reciprocity) on customers’ trust in social commerce (s…
Abstract
Purpose
The purpose of this paper is to understand the effect of two types of reciprocity (restricted reciprocity and generalized reciprocity) on customers’ trust in social commerce (s-commerce) and trust performance (purchase intention and word-of-mouth intention). Furthermore, this study examines how individual and contextual moderators (personal shopping experience and community shared language) could impact the trust development process.
Design/methodology/approach
This study adopted a survey method and obtained data from 287 users in a customer-to-customer (C2C) s-commerce platform. Structural equation modeling was used to examine the research hypotheses.
Findings
The results demonstrate that two types of reciprocity positively affect trust in s-commerce. Customers’ trust performance is significantly affected by trust in s-commerce. Additionally, shopping experience in s-commerce is found to positively moderate the relationship between restricted reciprocity and trust in s-commerce.
Research limitations/implications
The findings help to understand the nature and role of reciprocity in influencing trust and trust-related behaviors in the context of C2C s-commerce. The research also helps to explore the individual and contextual moderators that impact the effect of reciprocity on trust development.
Practical implications
The results offer a comprehensive view of trust building strategies for s-commerce practitioners, including shoppers, vendors and managers of s-commerce platforms.
Originality/value
This study is among the first few research studies that offers a theory-based conceptualization of reciprocity in C2C s-commerce and provides empirical support for the impact of reciprocity on customers’ trust in C2C s-commerce. In addition, this study devises a broader view of reciprocity based on restricted and generalized exchange principle to represent the interaction of vendor–shopper and shopper–shopper, respectively.
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Taher Alkhalaf, Omar Durrah, Abdelbaset Queiri and Syed Haider Ali Shah
Frugal innovation (FI) is a mechanism companies use to create value from limited resources, aiming to meet the needs of a broad customer segment in emerging markets. This study…
Abstract
Frugal innovation (FI) is a mechanism companies use to create value from limited resources, aiming to meet the needs of a broad customer segment in emerging markets. This study investigates the impact of FI on sustainable development (SD) in Libya. Data from 112 employees of small and medium enterprises (SMEs) were analyzed using WarpPLS software and structural equation modeling. The findings indicate that while two factors – low cost of frugal innovation (LCFI) and creation of an ecosystem for frugal innovation (CEFI) – do not significantly affect SD, the core functions of frugal innovation (CFFI) significantly impact SD. This work is among the first empirical studies to explore business models for FI and their influence on SD in Libya, contributing to the theoretical and empirical literature on the topic.
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This chapter reviews different definitions of firm's sustainability then clarifies own definition. The definition consists of three dimensions of firm sustainability other than…
Abstract
This chapter reviews different definitions of firm's sustainability then clarifies own definition. The definition consists of three dimensions of firm sustainability other than the economic – namely, environmental, social and governance which have been discussed and analysed separately in this chapter. In the last section of this chapter, the combination of the three dimensions of firm sustainability (environmental, social and governance) are jointly considered and analysed.
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Ming-yao Jen, Dorothy Yen and Kevin Lu
This research investigates the role of trust and social capital in shaping consumer behaviour in collaborative consumption (CC) platforms. By integrating system quality, social…
Abstract
This research investigates the role of trust and social capital in shaping consumer behaviour in collaborative consumption (CC) platforms. By integrating system quality, social referral and shared goals, this study aims to develop a comprehensive framework that explains how these factors influence social trust, self-efficacy and ultimately drive consumers' intention to adopt CC.