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1 – 10 of 66Koech Cheruiyot, Nosipho Mavundla, Mncedisi Siteleki and Ezekiel Lengaram
With revolutions in the telecommunication sector having led to wide unprecedented consequences in all facets of human life, this paper aims to examine the relationship between…
Abstract
Purpose
With revolutions in the telecommunication sector having led to wide unprecedented consequences in all facets of human life, this paper aims to examine the relationship between cell phone tower base stations (CPTBSs) and residential property prices within the City of Johannesburg (CoJ), South Africa.
Design/methodology/approach
The authors align their work with global literature and assess how the impact of CPTBSs influences residential property values in South Africa. The authors use a semi-log hedonic pricing model to test the hypothesis that proximity of CPTBSs to residential properties does not account for any variation in residential property prices.
Findings
The results show a significant impact that proximity of CPTBS has on residential property sale prices. However, the impact of CTPBSs’ proximity on residential property prices depends on their distance from the residential properties. The closer a residential property is to the CTPBS, the greater the impact that the CTPBS will have on the selling price of the residential property.
Originality/value
With international studies offering mixed findings on the impact of CPTBSs on residential property values, there is limited research on their impact in South Africa. The findings of this study offer crucial insights for the real estate practitioners, property owners, telecommunications companies and the public, providing a nuanced understanding of the relationship between CPTBSs and property values. This research helps property owners understand the effects of CPTBSs on their properties, and it assists property valuers in gauging the impact of CPTBSs on property values.
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Xinghua Shan, Xiaoyan Lv, Jinfei Wu, Shuo Zhao and Junfeng Zhang
Revenue management (RM) is a significant technique to improve revenue with limited resources. With the macro environment of dramatically increasing transit capacity and rapid…
Abstract
Purpose
Revenue management (RM) is a significant technique to improve revenue with limited resources. With the macro environment of dramatically increasing transit capacity and rapid railway transport development in China, it is necessary to involve the theory of RM into the operation and decision of railway passenger transport.
Design/methodology/approach
This paper proposes the theory and framework of generalized RM of railway passenger transport (RMRPT), and the thoughts and methods of the main techniques in RMRPT, involving demand forecasting, line planning, inventory control, pricing strategies and information systems, are all studied and elaborated. The involved methods and techniques provide a sequential process to help with the decision-making for each stage of RMRPT. The corresponding techniques are integrated into the information system to support practical businesses in railway passenger transport.
Findings
The combination of the whole techniques devotes to railway benefit improvement and transit resource utilization and has been applied into the practical operation and organization of railway passenger transport.
Originality/value
The development of RMRPT would provide theoretical and technical support for the improvement of service quality as well as railway benefits and efficiency.
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Surprisingly little is known of the various methods of security analysis used by financial analysts with industry-specific knowledge. Financial analysts’ industry knowledge is a…
Abstract
Purpose
Surprisingly little is known of the various methods of security analysis used by financial analysts with industry-specific knowledge. Financial analysts’ industry knowledge is a favored and appreciated attribute by fund managers and institutional investors. Understanding analysts’ use of industry-specific valuation models, which are the main value drivers within different industries, will enhance our understanding of important aspects of value creation in these industries. This paper contributes to the broader understanding of how financial analysts in various industries approach valuation, offering insights that can be beneficial to a wide range of stakeholders in the financial market.
Design/methodology/approach
This paper systematically reviews existing research to consolidate the current understanding of analysts’ use of valuation models and factors. It aims to demystify what can often be seen as a “black box”, shedding light on the valuation tools employed by financial analysts across diverse industries.
Findings
The use of industry-specific valuation models and factors by analysts is a subject of considerable interest to both academics and investors. The predominant model in several industries is P/E, with some exceptions. Notably, EV/EBITDA is favored in the telecom, energy and materials sectors, while the capital goods industry primarily relies on P/CF. In the REITs sector, P/AFFO is the most commonly employed model. In specific sectors like pharmaceuticals, energy and telecom, DCF is utilized. However, theoretical models like RIM and AEG find limited use among analysts.
Originality/value
This is the first paper systematically reviewing the research on analyst’s use of industry-specific stock valuation methods. It serves as a foundation for future research in this field and is likely to be of interest to academics, analysts, fund managers and investors.
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Tianyu Pan, Rachel J.C. Fu and James F. Petrick
This study aims to examine consumer perception during COVID-19 and identifies cruise industry marketing strategies to fill a gap in crisis management and product pricing…
Abstract
Purpose
This study aims to examine consumer perception during COVID-19 and identifies cruise industry marketing strategies to fill a gap in crisis management and product pricing literature.
Design/methodology/approach
This study developed and validated two-factor measurement scales (vaccine perception and protective behavior), which predicted cruise intents well. This study revealed how geo-regional factors affect consumer psychology through spatial analysis.
Findings
This study recommended pricing 7-day cruises at $1,464 (the most preferred length). The results also showed that future price hikes would not affect demand and that coastal marketing would help retain customers.
Originality/value
This study contributed to the business, hospitality and tourism literature by identifying two new and unique factors (vaccine perception and protective behaviors), which were found to affect consumers’ intention to travel by cruise significantly. The result provided a better understanding of cruise tourists’ pricing preferences and the methods utilized could easily be applied to other cruise markets or tourism entities.
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Hua Deng and Wendong Liu
This study aims to inform prospective listing firms, investors and regulators of the unique drivers of Chinese initial public offering (IPO) pricing on the Hong Kong Exchange.
Abstract
Purpose
This study aims to inform prospective listing firms, investors and regulators of the unique drivers of Chinese initial public offering (IPO) pricing on the Hong Kong Exchange.
Design/methodology/approach
Using a hand-collected IPO dataset, we investigate whether information uncertainty or investor exuberance drives underpricing and Chinese IPOs’ performance from 2002 to 2015, including 114 state-owned enterprises (SOEs).
Findings
Contrasting with the “listing bubble” in the China domestic stock market, generated by the overoptimism of retail investors, we highlight a “placing bubble” among Chinese firms listed in Hong Kong. This is driven by institutional investors’ buoyant demand for Chinese IPO shares, particularly those of SOEs. Chinese listing firms employ discreet earnings management strategies with their working capital accounts to smooth pre-IPO earnings, which becomes apparent to the market only in the long term.
Originality/value
This study is the first to examine the pricing of sought-after Chinese IPOs among international investors, who face various restrictions when investing in the Chinese domestic stock market. Additionally, it is the first study to measure earnings management using hand-collected pre-IPO data in IPO underpricing studies.
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Liza Sällström Eriksson and Sofia Lidelöw
Energy-efficiency measures have always been important when renovating aging building stock. For property owners, window intervention is a recurring issue. Replacement is common to…
Abstract
Purpose
Energy-efficiency measures have always been important when renovating aging building stock. For property owners, window intervention is a recurring issue. Replacement is common to reduce operational heating energy (OHE) use, something many previous building renovation studies have considered. Maintaining rather than replacing windows has received less attention, especially for multi-residential buildings in a subarctic climate where there is great potential for OHE savings. The objective was to assess the life cycle (LC) climate impact and costs of three window maintenance and replacement options for a 1980s multi-residential building in subarctic Sweden.
Design/methodology/approach
The options’ embodied and operational impacts from material production, transportation and space heating were assessed using a life cycle assessment (LCA) focusing on global warming potential (LCA-GWP) and life cycle costing (LCC) with a 60-year reference study period. A sensitivity analysis was used to explore the impact of uncertain parameters on LCA-GWP and LCC outcomes.
Findings
Maintaining instead of replacing windows minimized LC climate impact and costs, except under a few specific conditions. The reduced OHE use from window replacement had a larger compensating effect on embodied global warming potential (E-GWP) than investment costs, i.e. replacement was primarily motivated from a LC climate perspective. The LCA-GWP results were more sensitive to changes in some uncertain parameters, while the LCC results were more robust.
Originality/value
The findings highlight the benefits of maintenance over replacement to reduce costs and decarbonize window interventions, challenging property owners’ preference to replace windows and emphasizing the significance of including maintenance activities in future renovation research.
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Ogechi Adeola, Adenike Aderonke Moradeyo, Obinna Muogboh and Isaiah Adisa
This study examines consumer online purchase behaviour in the Nigerian fashion industry.
Abstract
Purpose
This study examines consumer online purchase behaviour in the Nigerian fashion industry.
Design/methodology/approach
A cross-sectional study was conducted with a total useable sample size of 241 respondents contacted through on-site visitation. Descriptive and inferential statistics were used to test the influence of customer value on online purchase behaviour in the fashion industry.
Findings
Consumer values are categorised into terminal (happiness, love and satisfaction) and instrumental (time-saving, price-saving discount, service convenience and merchandise assortment) values. The findings show that both values have significant influence on online consumer purchase behaviour, while fashion consciousness moderates the relationship between consumer values and online purchase behaviour.
Practical implications
Online fashion retailers should focus on increasing the terminal and instrumental values of their products and making available goods that meet the needs of different generational cohorts in society.
Originality/value
Studies have examined various factors, for example, consumer values that are determinants of consumer online purchase in the fashion industry; however, there has been limited focus on the nature of fashion and online purchasing in emerging markets, particularly those in Sub-Saharan Africa.
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Ahsan Siraj, Yongming Zhu, Shilpa Taneja, Ehtisham Ali, Jiaxin Guo and Xihui Chen
With rapidly changing marketing landscape, nowadays, the formulation of various marketing strategies is increasingly focused on how consumers tend to make decisions. To meet the…
Abstract
Purpose
With rapidly changing marketing landscape, nowadays, the formulation of various marketing strategies is increasingly focused on how consumers tend to make decisions. To meet the highly demanding consumer expectations, market segmentation can be used as an important marketing strategy. Due to gender marketing concept familiarity in the contemporary world, gender difference is one of the reference features in the process of market segmentation for marketers. This research is aimed to examine various determining factors that foster consumer purchase decision-making and the differences between consumers of different genders while making shopping and purchase decisions with special reference to an emerging economy, i.e. Pakistan.
Design/methodology/approach
Based on a cross-sectional sample of 367 consumers, the study adapted Sproles and Kendall's (1986) Consumer Style Inventory (CSI) to scrutinize the decision-making of both genders in Pakistan. For data analysis, the exploratory and confirmatory factor analysis in addition to the structural equation modeling has been used.
Findings
The study emphasized that, with the exception of quality awareness, brand consciousness, fashion consciousness, option overload and price consciousness greatly affect buying decisions. In addition, when it comes to consumer purchase decision-making, significant gender variations were discovered for both fashion consciousness and price consciousness.
Originality/value
Drawing upon the distinctive cultural characteristics of Pakistan and its people, in-depth research was conducted on purchasing behaviors of Pakistani consumers and the decision-making characteristics of customers of different genders were summarized. The outcomes are expected to make a significant contribution to the field of gender marketing by organizations.
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Jessenia Moreno-Manzo, Ariadna Gassiot-Melian and Lluís Coromina
The city of Quito is a World Heritage Site (WHS) in Ecuador and the city owns one of the best-preserved and extensive historic centers in Latin America for cultural tourism. This…
Abstract
Purpose
The city of Quito is a World Heritage Site (WHS) in Ecuador and the city owns one of the best-preserved and extensive historic centers in Latin America for cultural tourism. This study aims to identify the factors that constitute perceived value construct at the WHS of Quito.
Design/methodology/approach
This research collects data from tourists who have visited the city of Quito, Ecuador. A total of 381 on-site questionnaires are used. Data have been analyzed using exploratory factorial analysis.
Findings
Results regarding the dimensional structural framework of perceived value indicate that perceived value at the WHS of Quito has five factors: (1) monetary and non-monetary costs (MNC), (2) staff service quality (SSQ), (3) tourist offer accessibility (TOA), (4) destination attractiveness (DA) and (5) information accessibility (IA).
Originality/value
Two new factors of accessibility have been proposed in this study for measuring consumer value at a WHS. Perceived value and accessibility have been treated as two separate subjects in academic literature before. However, this article contributes to the understanding of perceived value at WHS, including factors linked to accessibility. Both managerial and theoretical implications for WHS are discussed.
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Ronik Ketankumar Patel, Roya Etminani-Ghasrodashti, Apurva Pamidimukkala, Sharareh Kermanshachi, Jay Rosenberger and Ann Foss
Public opinion regarding autonomous vehicles (AV) heavily influences how quickly the technology will be implemented and adopted in the future. However, there is a dearth of…
Abstract
Purpose
Public opinion regarding autonomous vehicles (AV) heavily influences how quickly the technology will be implemented and adopted in the future. However, there is a dearth of empirical evaluations in the literature about riders' perceptions toward service characteristics of shared autonomous vehicles (SAVs) and their attitudes toward developing AVs. Therefore, the aim of this study is to identify attitudes, views and concerns regarding a self-driving demonstration called RAPID (Rideshare, Automation and Payment Integration Demonstration) incorporated with an already-existing on-demand ridesharing service in Arlington, Texas.
Design/methodology/approach
This study developed a ridership survey to collect data from those who had experience using the service at least once during the service deployment. As the RAPID service operations were restricted to the areas near the University of Texas at Arlington (UTA) campus, sample population of this study is highly skewed with all participants being affiliated with UTA.
Findings
Findings indicated that survey respondents positively perceived the service features, including comfort, boarding the vehicles, ride safety, booking and scheduling, vehicle speed, climate control and service cost. To complement the survey results, the authors conducted interviews and a focus group study and used conventional content analysis to gain more in-depth insights about RAPID service operations from the perspectives of users and non-users in the post-implementation period. The results indicated that geographic accessibility, service availability and trip cost were the primary concerns of the focus group participants.
Originality/value
This study offers critical insights into individual attitudes and perceptions toward shared AVs (SAVs) that will assist local, state and federal transit authorities and planners in formulating policies and transportation strategies to target SAV ridership when the service is more widespread.
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