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1 – 10 of over 22000Samra Chaudary, Sohail Zafar and Thomas Li-Ping Tang
Following behavioral finance and monetary wisdom, the authors theorize: Decision-makers (investors) adopt deep-rooted personal values (the love-of-money attitudes/avaricious…
Abstract
Purpose
Following behavioral finance and monetary wisdom, the authors theorize: Decision-makers (investors) adopt deep-rooted personal values (the love-of-money attitudes/avaricious financial aspirations) as a lens to frame critical concerns (short-term and long-term investment decisions) in the immediate-proximal (current income) and distal-omnibus (future inheritance) contexts to maximize expected utility and ultimate serenity across context, people and time.
Design/methodology/approach
The authors collected data from 277 active equity traders (professional money managers and individual investors) in Pakistan’s two most robust investment hubs—Karachi and Lahore. The authors measured their love-of-money attitude (avaricious monetary aspirations), short-term and long-term investment decisions and demographic variables and collected data during Pakistan's bear markets (Pakistan Stock Exchange, PSX-100).
Findings
Investors’ love of money relates to short-term and long-term decisions. However, these relationships are significant for money managers but non-significant for individual investors. Further, investors’ current income moderates this relationship for short-term investment decisions but not long-term decisions. The intensity of the aspirations-to-short-term investment relationship is much higher for investors with low-income levels than those with average and high-income levels. Future inheritance moderates the relationships between aspirations and short-term and long-term decisions. Regardless of their love-of-money orientations, investors with future inheritance have higher magnitudes of short-term and long-term investments than those without future inheritance. The intensity of the aspirations-to-investments relationship is more potent for investors without future inheritance than those with inheritance. Investors with low avaricious monetary aspirations and without inheritance expectations show the lowest short-term and long-term investment decisions. Investors' current income and future inheritance moderate the relationships between their love of money attitude and short-term and long-term decisions differently in Pakistan's bear markets.
Practical implications
The authors help investors make financial decisions and help financial institutions, asset management companies, brokerage houses and investment banks identify marketing strategies and investor segmentation and provide individualized services.
Originality/value
Professional money managers have a stronger short-term orientation than individual investors. Lack of wealth (current income and future inheritance) motivates greedy investors to take more risks and become more vulnerable than non-greedy ones—investors’ financial resources and wealth matter. The Matthew Effect in investment decisions exists in Pakistan’s emerging economy.
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Keywords
- Behavioural finance/economics/prospect theory/risk-taking/aversion
- Planned behaviour/TPB
- Values
- Love of money/money/greed/power/achievement/obsession/budget
- Current/income/future/inheritance/time/gender
- Short-term/Long-term/Decision-making
- Conservation/resource/wealth/possession/stress
- Bull/Bear/Market
- Pakistan Stock Exchange (PSX-100)
Marc Wouters, Susana Morales, Sven Grollmuss and Michael Scheer
The paper provides an overview of research published in the innovation and operations management (IOM) literature on 15 methods for cost management in new product development, and…
Abstract
Purpose
The paper provides an overview of research published in the innovation and operations management (IOM) literature on 15 methods for cost management in new product development, and it provides a comparison to an earlier review of the management accounting (MA) literature (Wouters & Morales, 2014).
Methodology/approach
This structured literature search covers papers published in 23 journals in IOM in the period 1990–2014.
Findings
The search yielded a sample of 208 unique papers with 275 results (one paper could refer to multiple cost management methods). The top 3 methods are modular design, component commonality, and product platforms, with 115 results (42%) together. In the MA literature, these three methods accounted for 29%, but target costing was the most researched cost management method by far (26%). Simulation is the most frequently used research method in the IOM literature, whereas this was averagely used in the MA literature; qualitative studies were the most frequently used research method in the MA literature, whereas this was averagely used in the IOM literature. We found a lot of papers presenting practical approaches or decision models as a further development of a particular cost management method, which is a clear difference from the MA literature.
Research limitations/implications
This review focused on the same cost management methods, and future research could also consider other cost management methods which are likely to be more important in the IOM literature compared to the MA literature. Future research could also investigate innovative cost management practices in more detail through longitudinal case studies.
Originality/value
This review of research on methods for cost management published outside the MA literature provides an overview for MA researchers. It highlights key differences between both literatures in their research of the same cost management methods.
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Biwei Tang, Zhu Zhanxia and Jianjun Luo
Aiming at obtaining a high-quality global path for a mobile robot which works in complex environments, a modified particle swarm optimization (PSO) algorithm, named…
Abstract
Purpose
Aiming at obtaining a high-quality global path for a mobile robot which works in complex environments, a modified particle swarm optimization (PSO) algorithm, named random-disturbance self-adaptive particle swarm optimization (RDSAPSO), is proposed in this paper.
Design/methodology/approach
A perturbed global updating mechanism is introduced to the global best position to avoid stagnation in RDSAPSO. Moreover, a new self-adaptive strategy is proposed to fine-tune the three control parameters in RDSAPSO to dynamically adjust the exploration and exploitation capabilities of RDSAPSO. Because the convergence of PSO is paramount and influences the quality of the generated path, this paper also analytically investigates the convergence of RDSAPSO and provides a convergence-guaranteed parameter selection principle for RDSAPSO. Finally, a RDSAPSO-based global path planning (GPP) method is developed, in which the feasibility-based rule is applied to handle the constraint of the problem.
Findings
In an attempt to validate the proposed method, it is compared against six state-of-the-art evolutionary methods under three different numerical simulations. The simulation results confirm that the proposed method is highly competitive in terms of the path optimality. Moreover, the computation time of the proposed method is comparable with those of the other compared methods.
Originality/value
Therefore, the proposed method can be considered as a vital alternative in the field of GPP.
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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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Pramod Iyer, Atanas Nik Nikolov, Geoffrey T. Stewart, Rajesh V. Srivastava and Thomas Tang
To most people, money is a motivator, which is robustly true for salespeople. A high love of money attitude predicts university students’ poor academic performance in a business…
Abstract
Purpose
To most people, money is a motivator, which is robustly true for salespeople. A high love of money attitude predicts university students’ poor academic performance in a business course and cheating in laboratory experiments and multiple panel studies, but money (income) itself does not predict dishonesty. Extrinsic reward undermines intrinsic motivation. Very little research has incorporated the grit construct in the sales literature and explored the relationship between grit and the love of money. Further, a growth mindset and a fixed mindset may also impact salespeople’s job performance. This study aims to explore a brand-new theoretical structural equation model (SEM) and investigate the relationships between individual characteristics (growth and fixed mindsets and grit orientation) and job performance directly and indirectly through a mediator – salespeople’s love of money attitude.
Design/methodology/approach
This study uses Qualtrics and collects data from 330 business-to-business (B2B) salespeople across several industries in the USA. This study uses a formative SEM model to test this study’s hypotheses.
Findings
First, there are significant correlations among grit, a growth mindset and a fixed mindset, revealing no construct duplication or redundancy. Second, both a growth mindset and grit indirectly enhance job performance through the love of money attitude – a mediator, offering a brand-new discovery. Third, counter-intuitively, a growth mindset and grit do not directly improve job performance. Fourth, grit is significantly and negatively related to the love of money attitude, adding a new twist to this study’s theoretical model. Fifth, a fixed mindset undermines job performance directly but is unrelated to the love of money. Overall, B2B salespeople’s love of money attitude (employee demand) undermines sales personnel’s self-reported job performance (organization demand) in the organization and employee’s supply and demand exchange relationship.
Originality/value
The findings reveal that a growth mindset, a fixed mindset and grit contribute differently to sales personnel’s love of money attitude and job performance in this study’s theoretical model. The love of money serves as a mediator. A commonly accepted belief is that money is a motivator. Money (income) itself and the love of money attitude are two separate constructs. This study’s novel discoveries provide the essential missing monetary-aspirations-to-job-performance link in the literature – ardent monetary aspiration undermines self-reported job performance. This study offers inspiration to help decision-makers make happy, healthy and wealthy decisions and improve performance.
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Zhaozhao Tang, Wenyan Wu, Po Yang, Jingting Luo, Chen Fu, Jing-Cheng Han, Yang Zhou, Linlin Wang, Yingju Wu and Yuefei Huang
Surface acoustic wave (SAW) sensors have attracted great attention worldwide for a variety of applications in measuring physical, chemical and biological parameters. However…
Abstract
Purpose
Surface acoustic wave (SAW) sensors have attracted great attention worldwide for a variety of applications in measuring physical, chemical and biological parameters. However, stability has been one of the key issues which have limited their effective commercial applications. To fully understand this challenge of operation stability, this paper aims to systematically review mechanisms, stability issues and future challenges of SAW sensors for various applications.
Design/methodology/approach
This review paper starts with different types of SAWs, advantages and disadvantages of different types of SAW sensors and then the stability issues of SAW sensors. Subsequently, recent efforts made by researchers for improving working stability of SAW sensors are reviewed. Finally, it discusses the existing challenges and future prospects of SAW sensors in the rapidly growing Internet of Things-enabled application market.
Findings
A large number of scientific articles related to SAW technologies were found, and a number of opportunities for future researchers were identified. Over the past 20 years, SAW-related research has gained a growing interest of researchers. SAW sensors have attracted more and more researchers worldwide over the years, but the research topics of SAW sensor stability only own an extremely poor percentage in the total researc topics of SAWs or SAW sensors.
Originality/value
Although SAW sensors have been attracting researchers worldwide for decades, researchers mainly focused on the new materials and design strategies for SAW sensors to achieve good sensitivity and selectivity, and little work can be found on the stability issues of SAW sensors, which are so important for SAW sensor industries and one of the key factors to be mature products. Therefore, this paper systematically reviewed the SAW sensors from their fundamental mechanisms to stability issues and indicated their future challenges for various applications.
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Paul S. Kirkbride and Sara F.Y. Tang
This article attempts to outline the currenteconomic and cultural environment in whichmanagement development operates in Hong Kongand to demonstrate the potential barriers…
Abstract
This article attempts to outline the current economic and cultural environment in which management development operates in Hong Kong and to demonstrate the potential barriers which exist to the expansion of management development provisions and the acceptance of process. We review and evaluate management training and development provision in the territory using data from a recent survey. An attempt is made to identify the ways in which the barriers to management development in Hong Kong might be overcome and thus how Hong Kong′s managers might be better prepared for the potentially different world which may emerge post‐1997 after the take‐over by the People′s Republic of China.
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Dezhao Tang, Qiqi Cai, Tiandan Nie, Yuanyuan Zhang and Jinghua Wu
Integrating artificial intelligence and quantitative investment has given birth to various agricultural futures price prediction models suitable for nonlinear and non-stationary…
Abstract
Purpose
Integrating artificial intelligence and quantitative investment has given birth to various agricultural futures price prediction models suitable for nonlinear and non-stationary data. However, traditional models have limitations in testing the spatial transmission relationship in time series, and the actual prediction effect is restricted by the inability to obtain the prices of other variable factors in the future.
Design/methodology/approach
To explore the impact of spatiotemporal factors on agricultural prices and achieve the best prediction effect, the authors innovatively propose a price prediction method for China's soybean and palm oil futures prices. First, an improved Granger Causality Test was adopted to explore the spatial transmission relationship in the data; second, the Seasonal and Trend decomposition using Loess model (STL) was employed to decompose the price; then, the Apriori algorithm was applied to test the time spillover effect between data, and CRITIC was used to extract essential features; finally, the N-Beats model was selected as the prediction model for futures prices.
Findings
Using the Apriori and STL algorithms, the authors found a spillover effect in agricultural prices, and past trends and seasonal data will impact future prices. Using the improved Granger causality test method to analyze the unidirectional causality relationship between the prices, the authors obtained a spatial effect among the agricultural product prices. By comparison, the N-Beats model based on the spatiotemporal factors shows excellent prediction effects on different prices.
Originality/value
This paper addressed the problem that traditional models can only predict the current prices of different agricultural products on the same date, and traditional spatial models cannot test the characteristics of time series. This result is beneficial to the sustainable development of agriculture and provides necessary numerical and technical support to ensure national agricultural security.
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Luis Lisandro Lopez Taborda, Heriberto Maury and Jovanny Pacheco
There are many investigations in design methodologies, but there are also divergences and convergences as there are so many points of view. This study aims to evaluate to…
Abstract
Purpose
There are many investigations in design methodologies, but there are also divergences and convergences as there are so many points of view. This study aims to evaluate to corroborate and deepen other researchers’ findings, dissipate divergences and provide directing to future work on the subject from a methodological and convergent perspective.
Design/methodology/approach
This study analyzes the previous reviews (about 15 reviews) and based on the consensus and the classifications provided by these authors, a significant sample of research is analyzed in the design for additive manufacturing (DFAM) theme (approximately 80 articles until June of 2017 and approximately 280–300 articles until February of 2019) through descriptive statistics, to corroborate and deepen the findings of other researchers.
Findings
Throughout this work, this paper found statistics indicating that the main areas studied are: multiple objective optimizations, execution of the design, general DFAM and DFAM for functional performance. Among the main conclusions: there is a lack of innovation in the products developed with the methodologies, there is a lack of exhaustivity in the methodologies, there are few efforts to include environmental aspects in the methodologies, many of the methods include economic and cost evaluation, but are not very explicit and broad (sustainability evaluation), it is necessary to consider a greater variety of functions, among other conclusions
Originality/value
The novelty in this study is the methodology. It is very objective, comprehensive and quantitative. The starting point is not the case studies nor the qualitative criteria, but the figures and quantities of methodologies. The main contribution of this review article is to guide future work on the subject from a methodological and convergent perspective and this article provides a broad database with articles containing information on many issues to make decisions: design methodology; optimization; processes, selection of parts and materials; cost and product management; mechanical, electrical and thermal properties; health and environmental impact, etc.
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Paul S. Kirkbride and Sara F.Y. Tang
Seeks to trace the distinctive contours of the processes ofentrepreneurial and managerial development among the culturally similarOverseas (Nanyang) Chinese populations of…
Abstract
Seeks to trace the distinctive contours of the processes of entrepreneurial and managerial development among the culturally similar Overseas (Nanyang) Chinese populations of South‐east Asia. Identifies both the indigenous form of entrepreneurial development found in small Chinese businesses and the cultural barriers to the transfer of standard western management development processes to larger organizations in the region. Concludes by offering advice on how to tailor management development programmes successfully for use in the region.
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