Search results
1 – 10 of 855Giulia Gastaldello, Guenter Schamel, Nadia Streletskaya and Luca Rossetto
Virtual wine experiences (VWEs) replaced in-person wine experiences during the Covid-19 pandemic and continue to be offered by some actors. This study aims to investigate the…
Abstract
Purpose
Virtual wine experiences (VWEs) replaced in-person wine experiences during the Covid-19 pandemic and continue to be offered by some actors. This study aims to investigate the factors driving interest in VWEs and identify relevant traits of potential consumers to help assess VWEs long-term potential.
Design/methodology/approach
A representative sample of 399 Oregon and California wine consumers answered a structured online survey. The authors combine ordered logistic regression and qualitative techniques to analyze the data.
Findings
VWEs may effectively attract potential wine consumers and tourists. High interest in VWEs is associated with strong wine involvement and intentions to visit wine regions. Digitization, aversion to travel-related risk and convenience are other relevant drivers of VWE interest. The segmentation analysis revealed that consumers with a potentially higher interest in VWE have distinct traits.
Practical implications
Wineries and wine tourism destinations could leverage VWEs to attract wine tourists and consumers. The authors discuss specific characteristics of high-interest consumers.
Originality/value
Participants in VWEs interact with hosts and explore products in real time. This engagement has long-term marketing potential for attracting them as customers or visitors. The study provides strategic information for practitioners and academics on VWE interest drivers and potential demand, which is currently missing from the literature.
Details
Keywords
Robert Mwanyepedza and Syden Mishi
The study aims to estimate the short- and long-run effects of monetary policy on residential property prices in South Africa. Over the past decades, there has been a monetary…
Abstract
Purpose
The study aims to estimate the short- and long-run effects of monetary policy on residential property prices in South Africa. Over the past decades, there has been a monetary policy shift, from targeting money supply and exchange rate to inflation. The shifts have affected residential property market dynamics.
Design/methodology/approach
The Johansen cointegration approach was used to estimate the effects of changes in monetary policy proxies on residential property prices using quarterly data from 1980 to 2022.
Findings
Mortgage finance and economic growth have a significant positive long-run effect on residential property prices. The consumer price index, the inflation targeting framework, interest rates and exchange rates have a significant negative long-run effect on residential property prices. The Granger causality test has depicted that exchange rate significantly influences residential property prices in the short run, and interest rates, inflation targeting framework, gross domestic product, money supply consumer price index and exchange rate can quickly return to equilibrium when they are in disequilibrium.
Originality/value
There are limited arguments whether the inflation targeting monetary policy framework in South Africa has prevented residential property market boom and bust scenarios. The study has found that the implementation of inflation targeting framework has successfully reduced booms in residential property prices in South Africa.
Details
Keywords
Ingo Pies and Vladislav Valentinov
Stakeholder theory understands business in terms of relationships among stakeholders whose interests are mainly joint but may be occasionally conflicting. In the latter case…
Abstract
Purpose
Stakeholder theory understands business in terms of relationships among stakeholders whose interests are mainly joint but may be occasionally conflicting. In the latter case, managers may need to make trade-offs between these interests. The purpose of this paper is to explore the nature of managerial decision-making about these trade-offs.
Design/methodology/approach
This paper draws on the ordonomic approach which sees business life to be rife with social dilemmas and locates the role of stakeholders in harnessing or resolving these dilemmas through engagement in rule-finding and rule-setting processes.
Findings
The ordonomic approach suggests that stakeholder interests trade-offs ought to be neither ignored nor avoided, but rather embraced and welcomed as an opportunity for bringing to fruition the joint interest of stakeholders in playing a better game of business. Stakeholders are shown to bear responsibility for overcoming the perceived trade-offs through the institutional management of social dilemmas.
Originality/value
For many stakeholder theorists, the nature of managerial decision-making about trade-offs between conflicting stakeholder interests and the nature of trade-offs themselves have been a long-standing point of contention. The paper shows that trade-offs may be useful for the value creation process and explicitly discusses managerial strategies for dealing with them.
Details
Keywords
This paper aims to investigate the determinants of global interest in central bank digital currency (CBDC). It assessed whether global interest in sustainable development and…
Abstract
Purpose
This paper aims to investigate the determinants of global interest in central bank digital currency (CBDC). It assessed whether global interest in sustainable development and cryptocurrency are determinants of global interest in CBDC.
Design/methodology/approach
Google Trends data were analyzed using two-stage least square regression estimation.
Findings
There is a significant positive relationship between global interest in sustainable development and global interest in CBDC. There is a significant positive relationship between global interest in cryptocurrency and global interest in the Nigeria eNaira CBDC. There is a significant negative relationship between global interest in CBDC and global interest in the eNaira CBDC. There is a significant positive relationship between global interest in CBDC and global interest in the China eCNY. There is a significant negative relationship between global interest in cryptocurrency and global interest in the Sand Dollar and DCash.
Originality/value
The literature has not empirically examined whether global interest in sustainable development and cryptocurrency are factors motivating global interest in CBDC. This study fills a gap in the literature by investigating whether global interest in sustainable development and cryptocurrency are factors motivating global interest in CBDC.
Details
Keywords
Tayfun Güven, F. Burcu Çam, Bilsen Bilgili and Aysel Erci̇ş
Involvement plays a crucial role in understanding consumer behavior. In recent years, the concept of social innovation has gained momentum, resulting in the development of…
Abstract
Purpose
Involvement plays a crucial role in understanding consumer behavior. In recent years, the concept of social innovation has gained momentum, resulting in the development of eco-friendly products and initiatives to tackle societal issues. This trend is driven by consumers, who are increasingly aware of the social benefits of the products they buy. The present study aims to investigate how socially innovative, environmentally conscious consumers can influence their engagement with eco-friendly products.
Design/methodology/approach
Researchers aimed to investigate the “impact of social innovation on involvement in environmentally friendly products.” They selected active members of various environmental organizations operating in the country to conduct the study. Convenience sampling was used to reach out to these members, and the managers of these organizations sent an electronic questionnaire to all members' email addresses.
Findings
The study found that socially innovative, environmentally conscious consumers tend to be more interested in the symbolic meaning and pleasure of products, leading to a decrease in perceived risk and risk importance.
Originality/value
There are limited studies examining the relationship between social innovation and product innovation. Therefore, the novelty of this research lies in its exploration of the relationship between these two concepts. Unlike previous studies, this research found a negative relationship between the dimensions of risk importance and risk probability. This result was interpreted as environmentally friendly products being sensitive to public welfare and not being perceived as risky by environmentalists.
Details
Keywords
Imoh Antai and Roland Hellberg
Management and risk techniques within industries have been studied from various disciplines in nondefense-affiliated industries. Given the assumption that these techniques…
Abstract
Purpose
Management and risk techniques within industries have been studied from various disciplines in nondefense-affiliated industries. Given the assumption that these techniques, strategies and mitigations used in one industry apply to other similar industries, this paper examines the defense industry for risk assessment. We characterize interactions for onward application to risk identification in the defense industry.
Design/methodology/approach
This research employs a systems theory approach to the characterization of industry interactions, using three dimensions including environment, boundaries and relationships. It develops a framework for identifying relationship types within system-of-systems (SoS) environments by analyzing the features of interactions that occur in such environments.
Findings
The study’s findings show that different systems environments within the defense industry SoS exhibit different interaction characteristics and hence display different relationship patterns, which can indicate potential vulnerabilities.
Research limitations/implications
By employing interaction as a means for evaluating potential risks, this research emphasizes the role played by relationship factors in reducing perceived risks and simultaneously increasing trust.
Originality/value
This paper intends to develop an initial snapshot of the relationship status of the Swedish defense industry in light of the global consolidation in this industry, which is a relevant contextual contribution.
Details
Keywords
Miriam Marie Sanders, Julia E. Calabrese, Micayla Gooden and Mary Margaret Capraro
Research has shown that science, technology, engineering and mathematics (STEM) self-beliefs and enjoyment are critical factors for predicting female students’ persistence in STEM…
Abstract
Purpose
Research has shown that science, technology, engineering and mathematics (STEM) self-beliefs and enjoyment are critical factors for predicting female students’ persistence in STEM degrees and careers. Studies have shown the positive effects of informal STEM learning experiences on female students’ self-beliefs. However, with the rise of all-female STEM learning experiences, such as summer camps, considering the potential advantages and disadvantages of co-ed options is important. Further, prior STEM education research has focused on sex differences in students’ self-efficacy and STEM career interests. Our study aims to examine within sex differences in secondary, female students (n = 104) who attend either a co-ed STEM camp or a same-sex STEM camp.
Design/methodology/approach
To examine potential differences, we conducted independent sample t-tests.
Findings
Results of the study include statistically significant differences in mathematics and science self-efficacy as well as STEM career interest after participating in their respective camps.
Originality/value
Further, prior research in STEM education has focused on between sex differences in students’ self-efficacy and STEM career interest.
Details
Keywords
Jaakko Rönkkö, Mikko Paananen and Aleksi Lahikainen
This study examines the effects of board members’ compensation on the voluntary establishment of an internal audit function in publicly listed firms. While previous studies have…
Abstract
Purpose
This study examines the effects of board members’ compensation on the voluntary establishment of an internal audit function in publicly listed firms. While previous studies have identified some individual determinants related to the voluntary establishment of an internal audit function, the existing evidence on how board members’ compensation affects voluntary use of internal audit is, at best, ambiguous, scarce and incoherent.
Design/methodology/approach
Board compensation is a central incentive instrument in the classic principal–agent relationship between the owners and board members. The theme is empirically examined by using data compiled from Finnish publicly listed companies for the period 2015 to 2018. Since the dependent variable of the study is a binary variable, the logistic regression method was chosen as the statistical method of the study.
Findings
Our results unequivocally show that generous compensation of the board members increases the likelihood of establishing an internal audit function. Thus, we conclude that good corporate governance can be improved through generous compensation of board members.
Originality/value
Identifying the determinants of internal audit is vital to better understand the mechanisms that facilitate firms' improvement of internal control and risk management in terms of voluntarily adopting an internal audit function, and the implementation of good governance in general. Although numerous determinants of internal audit have been identified in previous studies, this study showed that one of the key determinants has so far been overlooked; namely, the remuneration of board members.
Details
Keywords
This study aims to investigate the effect of CBDC issuance on economic growth rate and inflation rate in Nigeria. We are interested in determining whether the rate of economic…
Abstract
Purpose
This study aims to investigate the effect of CBDC issuance on economic growth rate and inflation rate in Nigeria. We are interested in determining whether the rate of economic growth and inflation changed significantly after the issuance of a non-interest bearing CBDC in Nigeria.
Design/methodology/approach
Two-stage least squares regression and granger causality test were used to analyze the data.
Findings
Inflation significantly increased in the CBDC period, implying that CBDC issuance did not decrease the rate of inflation in Nigeria. Economic growth rate significantly increased in the CBDC period, implying that CBDC issuance improved economic growth in Nigeria. The financial sector, agricultural sector and manufacturing sector witnessed a much stronger contribution to gross domestic product (GDP) after CBDC issuance. There is one-way granger causality between CBDC issuance and monthly inflation, implying that CBDC issuance causes a significant change in monthly inflation in Nigeria. The implication of the result is that the non-interest bearing eNaira CBDC is not able to solve the twin economic problem of “controlling inflation which stifles economic growth” and “stimulating economic growth which leads to more inflation.” Policy makers should therefore use the eNaira CBDC alongside other monetary policy tools at their disposal to control inflation while stimulating growth in the economy.
Originality/value
There are no empirical studies on the effect of CBDC issuance on economic growth or inflation using real-world data. We add to the monetary economics literature by analyzing the effect of CBDC issuance on economic growth and inflation.
Details
Keywords
The accurate valuation of second-hand vessels has become a prominent subject of interest among investors, necessitating regular impairment tests. Previous literature has…
Abstract
Purpose
The accurate valuation of second-hand vessels has become a prominent subject of interest among investors, necessitating regular impairment tests. Previous literature has predominantly concentrated on inferring a vessel's price through parameter estimation but has overlooked the prediction accuracy. With the increasing adoption of machine learning for pricing physical assets, this paper aims to quantify potential factors in a non-parametric manner. Furthermore, it seeks to evaluate whether the devised method can serve as an efficient means of valuation.
Design/methodology/approach
This paper proposes a stacking ensemble approach with add-on feedforward neural networks, taking four tree-driven models as base learners. The proposed method is applied to a training dataset collected from public sources. Then, the performance is assessed on the test dataset and compared with a benchmark model, commonly used in previous studies.
Findings
The results on the test dataset indicate that the designed method not only outperforms base learners under statistical metrics but also surpasses the benchmark GAM in terms of accuracy. Notably, 73% of the testing points fall within the less-than-10% error range. The designed method can leverage the predictive power of base learners by incrementally adding a small amount of target value through residuals and harnessing feature engineering capability from neural networks.
Originality/value
This paper marks the pioneering use of the stacking ensemble in vessel pricing within the literature. The impressive performance positions it as an efficient desktop valuation tool for market users.
Details