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This study aims to promote strategic maritime management as a new emerging discipline to foster research in strategic maritime issues.
Abstract
Purpose
This study aims to promote strategic maritime management as a new emerging discipline to foster research in strategic maritime issues.
Design/methodology/approach
An existing academic discipline maturity model is adapted by including four phases of dynamic evolutionary paths to evaluate the phase of maturity of a research discipline. The model is validated by means of two matured disciplines: strategic management and maritime economics.
Findings
It is found that the current research of strategic maritime management is at a phase of emergence of discipline and ready to move to the maturity phase. It is also found that the evolution of the path of strategic maritime management resembles the early evolution path of strategic management but lags 30 years behind. Future research directions of strategic maritime management can be referred to the research streams in the maturity phase of strategic management.
Research limitations/implications
The adapted academic discipline maturity model brings in the longitudinal and dynamic perspectives of the evolution of an academic discipline, which helps maritime strategists identify gaps and opportunities and evaluate the appropriateness of applying a strategic management paradigm to a specific research topic.
Originality/value
The adapted academic discipline maturity model brings in the longitudinal and dynamic perspective of the evolution of an academic discipline, which helps maritime strategists define the gaps and opportunities in strategic maritime management research.
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The purpose of this paper is to examine the hotel growth model including hotel brand, culture and life cycle phases of the Myrtle Beach, South Carolina, the fastest growing…
Abstract
Purpose
The purpose of this paper is to examine the hotel growth model including hotel brand, culture and life cycle phases of the Myrtle Beach, South Carolina, the fastest growing tourism destination in the United States.
Design/methodology/approach
Culture reflecting consuming behaviour of low-context innovators and high-context imitators is measured by the price elasticity of demand (PED). Hotel brand reflecting guests’ hotel class is measured by the income elasticity of demand. Autoregressive distributed lag has been conducted on the Smith Travel Research data in 33 years (1989–2022) to determine the relationship among hotel brand, culture and life cycles.
Findings
Skilled labour is the key to make hotels grow. Therefore, increase room rates when hotels possess skilled professionals and decrease room rates when hotels have no skilled professionals. During the rejuvenation in Myrtle Beach (1999–2003), hoteliers increased room rates for innovators due to skilled professionals to increase revenue. Otherwise, a decrease in room rates due to lack of skilled professionals would lead to increase revenue.
Research limitations/implications
(1) Although Myrtle Beach is one of the fastest growing tourism destinations in the US, it has a relatively small geographic area relative to the country. (2) Data cover over one tourist life cycle, so the time span is relatively short. Hoteliers can forecast the number of guests in different culture by changing room rates.
Practical implications
To optimize revenue, hoteliers can select skilled labour in professional design hotel brands which could make an increase in demand for leisure transient guests no matter what room rates increase after COVID-19 pandemic.
Social implications
The study has considered the applied ethical processes regarding revenue management that would maximize both revenue and customer satisfaction when it set up an increase in room rates to compensate for professional hotel room design or it decreases room rates for low-income imitators in exploration and development.
Originality/value
This research highlights that (1) skilled design in the luxury hotel brand is the key for the hotel growth and (2) there is a steady state of the growth model in the destination life cycle.
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Khurram Ejaz Chandia, Muhammad Badar Iqbal and Waseem Bahadur
This study aims to analyze the imbalances in the public finance structure of Pakistan’s economy and highlight the need for comprehensive reforms. Specifically, it aims to…
Abstract
Purpose
This study aims to analyze the imbalances in the public finance structure of Pakistan’s economy and highlight the need for comprehensive reforms. Specifically, it aims to contribute to the empirical literature by analyzing the relationship between fiscal vulnerability, financial stress and macroeconomic policies in Pakistan’s economy between 1971 and 2020.
Design/methodology/approach
The study develops an index of fiscal vulnerability, an index of financial stress and an index of macroeconomic policies. The fiscal vulnerability index is based on the patterns of fiscal indicators resulting from past trends of the selected variables in Pakistan’s economy. The financial stress in Pakistan is caused from the financial disorders that are acknowledged in the composite index, which is based on variables with the potential to indicate periods of stress stemming from the foreign exchange market, the securities market and the monetary policy components. The macroeconomic policies index is developed to analyze the mechanism through which fiscal vulnerability and financial stress have influenced macroeconomic policies in Pakistan. The causal association between fiscal vulnerability, financial stress and macroeconomic policies is analyzed using the auto-regressive distributive lags approach.
Findings
There exists a long-run relationship between the three indices, and a bi-directional causality between fiscal vulnerability and macroeconomic policies.
Originality/value
This study contributes to the development of a fiscal monitoring mechanism, which has the basic purpose of analyzing the refinancing risk of public liabilities. Moreover, it focuses on fiscal vulnerability from a macroeconomic perspective. The study tries to develop a framework to assess fiscal vulnerability in light of “The Risk Octagon” theory, which focuses on three risk components: fiscal variables, macroeconomic-disruption-associated shocks and non-fiscal country-specific variables. The initial contribution of this work to the literature is to develop a framework (a fiscal vulnerability index, financial stress index and macroeconomic policies index) for effective and result-oriented macro-fiscal surveillance. Moreover, empirical literature emphasized and advised developing countries to develop their own capacity mechanisms to assess their fiscal vulnerability in light of the IMF guidelines regarding vulnerability assessments. This study thus attempts to fulfill the said gap identified in literature.
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Hassanudin Mohd Thas Thaker and Abdollah Ah Mand
The volatility of bitcoin (BTC) and time horizon is the center point for investment decisions. However, attention is not often drawn to the relationship between BTC and equity…
Abstract
The volatility of bitcoin (BTC) and time horizon is the center point for investment decisions. However, attention is not often drawn to the relationship between BTC and equity indices. Thus, the purpose of this paper is to investigate the volatility and time frequency domain of BTC with stock markets.
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Amit Kumar Yadav and Dinesh Kumar
Each individual needs to be vaccinated to control the spread of the COVID-19 pandemic in the shortest possible time. However, the vaccine distribution with an already strained…
Abstract
Purpose
Each individual needs to be vaccinated to control the spread of the COVID-19 pandemic in the shortest possible time. However, the vaccine distribution with an already strained supply chain in low- and middle-income countries (LMICs) will not be effective enough to vaccinate all the population in stipulated time. The purpose of this paper is to show that there is a need to revolutionize the vaccine supply chain (VSC) by overcoming the challenges of sustainable vaccine distribution.
Design/methodology/approach
An integrated lean, agile and green (LAG) framework is proposed to overcome the challenges of the sustainable vaccine supply chain (SVSC). A hybrid best worst method (BWM)–Measurement of Alternatives and Ranking According to COmpromise Solution (MARCOS) methodology is designed to analyze the challenges and solutions.
Findings
The analysis shows that vaccine wastage is the most critical challenge for SVSC, and the coordination among stakeholders is the most significant solution followed by effective management support.
Social implications
The result of the analysis can help the health care organizations (HCOs) to manage the VSC. The effective vaccination in stipulated time will help control the further spread of the virus, which will result in the normalcy of business and availability of livelihood for millions of people.
Originality/value
To the best of the author's knowledge, this is the first study to explore sustainability in VSC by considering the environmental and social impact of vaccination. The LAG-based framework is also a new approach in VSC to find the solution for existing challenges.
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Elisabetta Marzano, Paolo Piselli and Roberta Rubinacci
The purpose of this paper is to provide a dating system for the Italian residential real estate market from 1927 to 2019 and investigate its interaction with credit and business…
Abstract
Purpose
The purpose of this paper is to provide a dating system for the Italian residential real estate market from 1927 to 2019 and investigate its interaction with credit and business cycles.
Design/methodology/approach
To detect the local turning point of the Italian residential real estate market, the authors apply the honeycomb cycle developed by Janssen et al. (1994) based on the joint analysis of house prices and the number of transactions. To this end, the authors use a unique historical reconstruction of house price levels by Baffigi and Piselli (2019) in addition to data on transactions.
Findings
This study confirms the validity of the honeycomb model for the last four decades of the Italian housing market. In addition, the results show that the severe downsizing of the housing market is largely associated with business and credit contraction, certainly contributing to exacerbating the severity of the recession. Finally, preliminary evidence suggests that whenever a price bubble occurs, it is coincident with the start of phase 2 of the honeycomb cycle.
Originality/value
To the best of the authors’ knowledge, this is the first time that the honeycomb approach has been tested over such a long historical period and compared to the cyclic features of financial and real aggregates. In addition, even if the honeycomb cycle is not a model for detecting booms and busts in the housing market, the preliminary evidence might suggest a role for volume/transactions in detecting housing market bubbles.
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David B. Grant, Sarah Shaw, Edward Sweeney, Witold Bahr, Siriwan Chaisurayakarn and Pietro Evangelista
Mixed methods research is useful to enhance theoretical and practical research contributions. However, single methods have predominated much logistics and supply chain management…
Abstract
Purpose
Mixed methods research is useful to enhance theoretical and practical research contributions. However, single methods have predominated much logistics and supply chain management (LSCM) research. This paper presents a review of mixed methods research across ten years in LSCM to determine their usage, identify benefits and inhibitors, and provide suggestions for LSCM researchers to realise the benefits from using mixed methods.
Design/methodology/approach
This paper adopts a mixed methods approach through a quantitative analysis of methods used in six leading LSCM journals, an e-mail survey of mixed methods article authors during the review period, and four published case studies that used mixed methods.
Findings
Only 144 (ten percent) of all empirical articles were published using mixed methods during the review period. A range of benefits and inhibitors regarding mixed methods adoption were found. Suggestions for LSCM authors include research training in mixed methods use and developing a project-specific research design due to the specificity and complexity associated with mixed methods research.
Originality/value
LSCM is at a critical juncture, shaped by new contexts, themes and challenges, and would benefit from different research approaches and methods. This paper contributes to the LSCM domain through analysing the current state, benefits and inhibitors of mixed methods research in LSCM journals to provide a renewed call to action and guidelines for mixed methods LSCM research, and suggesting research design adaptation to enable agile and resilient research when investigating rapidly changing and complex phenomena.
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Wanna Chongchitpaisan, Phongtape Wiwatanadate, Assawin Narkpongphun, Surat Tanprawate and Nipapon Siripon
Adolescents being in a stage of growth need good sleep, but, today, they suffer from sleep deprivation due to such extrinsic factor as a smartphone which they enjoy spending time…
Abstract
Purpose
Adolescents being in a stage of growth need good sleep, but, today, they suffer from sleep deprivation due to such extrinsic factor as a smartphone which they enjoy spending time using the device. However, the effects of smartphone output power (SOP) on the duration of good sleep remains unclear. The purpose of this paper is to investigate the correlation of the SOP and sleep loss in high school students.
Design/methodology/approach
The time-series study was conducted among 145 high school students in Chiang Mai Province who completed a sleep diary which applied by the Pittsburg Sleep Quality Index. The SOP was corrected by a smartphone application and transmitted by e-mail to a researcher every day. The completed data set contains 12,969 entries. Headache, anxiety and depression were also assessed. Data were analyzed using the generalized estimating equation adjusted for demographic data, smartphone use and other factors.
Findings
Most of the study subjects are female, 17.4 years old on average. The prevalence of sleep loss (<8 h) was 52.9 percent with averagely 7.4 ±1.7 h of sleep duration and poor sleep at 32.1 percent. Anxiety, depression, headache had relationships with sleep loss. The daily dose, evening and nocturnal SOP in the range of ≥ 2.00 × 10‒5 mW had stronger relationships with sleep loss than their effects in the range of ≤ 1.79 × 10‒5 mW (ORadj1.32; 95% CI: 1.26–1.76, ORadj1.34; 95% CI: 1.07–1.17 and ORadj1.41; 95% CI: 1.07–1.17, respectively). Meanwhile, morning Lag_2 and daytime Lag_1 in the range of ≥ 2.00 × 10‒5 mW appeared to have a strong relationship with sleep loss (ORadj1.60; 95% CI: 1.26–1.76, ORadj1.36; 95% CI: 1.07–1.17). The relationship between Lag_4 daily dose and sleep loss took the form of a reverse dose-response.
Originality/value
Sleep loss in adolescents has an increasing trend of prevalence and has been found to be correlated with the highest SOP group (≥ 2.00 × 10‒5 mW range). These results confirmed that increased and longer smartphone use result in reduced sleep time. This causes them to be exposed to smartphone electromagnetic radiation and smartphone screen lighting. This disturbs brain waves and nervous system controlling sleep balance mechanisms. The findings recommended parents setting time and boundaries around technology use at home to reduce contact with electromagnetic radiation and smartphone screen lighting, thereby increasing sleeping time in order to create good sleep quality.
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Simarjeet Singh, Nidhi Walia, Stelios Bekiros, Arushi Gupta, Jigyasu Kumar and Amar Kumar Mishra
This research study aims to design a novel risk-managed time-series momentum approach. The present study also examines the time-series momentum effect in the Indian equity market…
Abstract
Purpose
This research study aims to design a novel risk-managed time-series momentum approach. The present study also examines the time-series momentum effect in the Indian equity market. Apart from this, the study also proposes a novel risk-managed time-series momentum approach.
Design/methodology/approach
The study considers the adjusted monthly closing prices of the stocks listed on the Bombay Stock Exchange from January 1996 to December 2020 to formulate long-short portfolios. Newey–West t statistics were used to test the significance of momentum returns. The present research has considered standard risk factors, i.e. market, size and value, to evaluate the risk-adjusted performance of time-series momentum portfolios.
Findings
The present research reports a substantial absolute momentum effect in the Indian equity market. However, absolute momentum strategies are exposed to occasional severe losses. The proposed time-series momentum approach not only yields 2.5 times higher return than the standard time-series momentum approach but also causes substantial enhancement in downside risks and higher-order moments.
Practical implications
The study's outcomes offer valuable insights for professional investors, capital market regulators and asset management companies.
Originality/value
This study is one of the pioneers attempting to test the time-series momentum effect in emerging economies. Besides, current research contributes to the escalating literature on risk-managed momentum by suggesting a novel revised time-series momentum approach.
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