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Article
Publication date: 1 April 2000

Nick French and Richard Cooper

It is well recognised that the UK commercial property market has traditionally used nominal market benchmarks such as the all‐risk yield based on the assumption that rents are…

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Abstract

It is well recognised that the UK commercial property market has traditionally used nominal market benchmarks such as the all‐risk yield based on the assumption that rents are received annually in arrears. Obviously, the reality of the market is that rents are invariably received quarterly in advance and it has been suggested that valuers should move towards valuation techniques that reflect the actual timing of the cash flow. The Investment Property Forum issued a paper in September 1999 promulgating the use of quarterly in advance valuations. Parry’s Tables provides quarterly in advance formulae that reflect the reality of rental income and indicates that an annual effective yield should be used instead of a nominal yield to compensate for the subsequent compounding resulting from an income received quarterly. However, as will be shown, the effective yield formula provided by Parry’s does not reflect quarterly payments that are received in advance so compromising the accurate transition from annually in arrears to quarterly in advance formulae based valuations. Tables produced by the IPF have rectified this problem in part as they correctly work on the premise that capital values will not change as the profession changes to a quarterly approach. It is the yield which will be expressed differently. The use of an all risk yield technique for valuation is actually a comparative method. The way in which the yield is expressed is not the critical issue, it is the multiplier against the rent which will determine value. This paper provides the formula required to accurately transfer annually in arrears data into quarterly in advance data together with the formulae required for contemporary growth explicit discounted cash flows (DCF).

Details

Journal of Property Investment & Finance, vol. 18 no. 2
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 4 September 2023

Maria Borbely and Margit Némethi-Takács

As part of the EFOP-3.3.3-VEKOP-16–2016-00001 “Museum and Library Development for All” project, a national representative digital literacy survey was conducted in Hungary's public…

Abstract

Purpose

As part of the EFOP-3.3.3-VEKOP-16–2016-00001 “Museum and Library Development for All” project, a national representative digital literacy survey was conducted in Hungary's public libraries at the end of 2019. The aim of the present study is to provide a deeper analysis of the data collected during the survey to answer the question of the role of gender and age in the development of digital skills amongst librarians working in public libraries. This study was designed to answer the following four research questions: Are there levels of proficiency defined by DigComp 2.1 that are more specific to men or more specific to women? Are there areas of competence and competences that are clearly perceived as stronger or weaker for men or women? Are there areas of competence that are clearly influenced by age and others that are not or only moderately influenced by age? Which competences are clearly age-related, and which are not or only slightly affected by age?

Design/methodology/approach

The main target group of the study were library professionals working in county libraries. The survey, based on the DigComp 2.1 (Gomez et al., 2017) framework, was conducted using an online questionnaire in the form of a self-assessment and explored four levels of digital literacy. A 30-question questionnaire was completed by 1,868 respondents. The sampling procedure was essentially stratified sampling. The large number of respondents and the sampling procedure combined with the representativeness of the sample meant that the results of the survey can be considered as generalisable to the whole Hungarian public library sector.

Findings

Of the five competency areas assessed by the DigComp framework, librarians were found to be most competent in information and data literacy, and least competent in content development, according to the proportion of those with basic skills. 32 percent of women and 22 percent of men working in libraries rated their digital skills as basic, and both groups were weak or less weak in the same skills, with a few exceptions. At the intermediate level, there is a predominance of women. In the information and communication competency areas and in the content development and integrating and re-elaborating digital content in the content creation area, a high proportion of women consider their digital skills to be medium. Relatively few men rate their own competence in these areas as average. They are most likely to have advanced and highly specialised skills. The advanced level in DigComp2.1 implies, in addition to strong digital skills, the willingness and ability to help others, while the highly specialised level requires innovative and creative use of digital technology and knowledge transfer. These top two skill levels are more common amongst men. 34 per cent of men and 27 per cent of women have advanced skills, while 13 per cent of men and 6 per cent of women have highly specialised’s level. The age of librarians has only a minimal influence in certain areas of competence and for certain competences. Skills in the information and data literacy competency area are less age sensitive. For the data management competency, which requires more technological skills, a stronger correlation between age and skill levels is observed, especially for basic and highly specialised skills. In the communication competence area, the youngest age group of librarians has the highest percentage of advanced and the lowest percentage of basic level. The proportion of advanced learners decreases steadily as age groups progress and the proportion of basic learners increases at a similar steady rate. The effect of age on the content creation is much more modest than expected. Age clearly has an impact on the safety competence area. As age increases, the proportion of those at advanced level decreases and the proportion at basic level increases. Age also has a significant effect on the problem-solving competence area. One in two librarians in the 50 and 60s have only basic level skills, compared to one in four in the youngest age group and one in three in the 40s.

Originality/value

Using the DigComp 2.1 framework, a digital competence survey of a whole professional group of library professionals working in public libraries in Hungary was carried out. The study provides new insights into the impact of gender and age as variables on digital competence.

Details

Performance Measurement and Metrics, vol. 24 no. 3/4
Type: Research Article
ISSN: 1467-8047

Keywords

Article
Publication date: 18 July 2023

Waleed Shleha, Yancy Vaillant and Jonathan Calleja-Blanco

The research presented in this paper has been conducted to understand the impact of advanced-servitized-products on the longitudinal sales performance of manufacturing companies…

Abstract

Purpose

The research presented in this paper has been conducted to understand the impact of advanced-servitized-products on the longitudinal sales performance of manufacturing companies across international markets. The research strives to understand how the onsite presence leverages this impact.

Design/methodology/approach

To reach this objective, an empirical sample of more than 4,000 sales transactions covering the period 2010–2019 in 74 foreign markets was collected from a single high-tech manufacturer producing and selling servitized solutions. The authors use a time fixed-effects model to test the authors' theoretically deduced hypotheses.

Findings

The authors' find the proportion of advanced-servitized products to positively impact sales performance over time and that this relation is moderated by the choice of international distribution channel. As compared to direct exports, onsite presence and intermediaries present a positive and negative moderating effect, respectively.

Originality/value

The paper offers a rare look into the international sales performance of advance-servitized-products. This paper does so using a service-dominant logic, which is still scarcely used within the servitization literature, despite the logic's adequacy for the study of the market behavior of service-augmented products.

Details

International Marketing Review, vol. 40 no. 4
Type: Research Article
ISSN: 0265-1335

Keywords

Open Access
Article
Publication date: 25 July 2023

Alice Mohlin

The purpose of this paper is twofold: to identify and map contemporary research on advanced technology implementations for problem-solving purposes in the manufacturing industry…

Abstract

Purpose

The purpose of this paper is twofold: to identify and map contemporary research on advanced technology implementations for problem-solving purposes in the manufacturing industry, and to further understand the organizational learning possibilities of advanced technology problem-solving in the manufacturing industry.

Design/methodology/approach

This paper outlines a scoping review of contemporary research on the subject. The findings of the review are discussed in the light of theories of contradicting learning logics.

Findings

This paper shows that contemporary research on the subject is characterized by technological determinism and strong solution-focus. A discussion on the manufacturing industries’ contextual reasons for this in relation to contradicting learning logics shows that a Mode-2 problem-solving approach could facilitate further learning and expand knowledge on advanced technology problem-solving in the manufacturing industry. A research agenda with six propositions is provided.

Originality/value

The introduction of advanced technology implies complex effects on the manufacturing industry in general, while previous research shows a clear focus on technological aspects of this transformation. This paper provides value by providing novel knowledge on the relationship between advanced technology, problem-solving and organizational learning in the manufacturing industry.

Details

Journal of Workplace Learning, vol. 35 no. 6
Type: Research Article
ISSN: 1366-5626

Keywords

Article
Publication date: 3 February 2023

Surya Prakash, Anubhav Arora, Nilaish, Chandra Prakash and Ashish Srivastava

The purpose of this study is to address supplier evaluation and selection in a constrained environment of advance purchasing. The study presents the potential solutions to…

Abstract

Purpose

The purpose of this study is to address supplier evaluation and selection in a constrained environment of advance purchasing. The study presents the potential solutions to supplier evaluation and selection issues in the Indian automobile sector where advance purchases are carried out to fulfill the supply chain demand.

Design/methodology/approach

Based on the literature review and expert elicitation, nine major factors which are responsible for the successful implementation of supplier selection in a constrained environment of advance purchasing are identified. This paper explores supplier selection in constrained environment issues based on an integrated method based on Shannon entropy, analytic hierarchy process (AHP) techniques and failure mode effects analysis (FMEA).

Findings

Analysis of the results of the study suggests that traditional suppliers are not suitable in advance purchasing scenarios; hence, criteria developed in this paper to accommodate the requirement of advance purchasing with possible risk considerations are of high importance. This research paper is an original attempt to develop supplier selection criteria for advance purchasing with special identification of deliverability, flexibility, innovation and productivity factors through a case demonstration.

Research limitations/implications

This study uses data from secondary sources, literature reviews and expert opinions. It formalizes the important factors of successful supplier selection in the constrained environment of advance purchasing in the automotive industry context.

Practical implications

The paper shows how the engagement of suppliers through advance purchasing helps automotive companies in developing a competitive advantage. The integrated approach of Shannon entropy, AHP techniques and FMEA is an effective and useful method that can be applied to the supplier selection process.

Originality/value

The proposed FMEA-AHP method integrated with Shannon entropy used for evaluation represents a useful tool to embrace the suitable functioning tactics for efficient supplier selection. The study is unique as supplier evaluation and selection in a constrained environment of advance purchasing is not investigated much and has good industry applicability.

Details

Journal of Global Operations and Strategic Sourcing, vol. 16 no. 3
Type: Research Article
ISSN: 2398-5364

Keywords

Article
Publication date: 17 October 2022

Haicheng Jia, Jing Li, Ling Liang, Weicai Peng, Jiqing Xie and Jiaping Xie

The development of low-carbon production is impeded by the investment costs of green technology research and development (R&D) and carbon emission reduction while facing the…

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Abstract

Purpose

The development of low-carbon production is impeded by the investment costs of green technology research and development (R&D) and carbon emission reduction while facing the uncertain risk of emission reduction investment. With the government's carbon emission constraints, green manufacturers implement the advance selling strategy to increase both profit and reduction level. However, few studies consider the consumer's green preference and emission constraints in advance selling market and spot market independently. The authors' paper investigates the optimal strategies of advance selling pricing and reduction effort for green manufacturers to maximize profits.

Design/methodology/approach

The authors' paper designs a stochastic model and investigates the manufacturer's optimal strategies of advance selling price and emission reduction efforts by categorizing different purchasing periods of low-carbon consumers. With the challenges of uncertain demand and government's emission constraints, the authors' develop the non-linear optimization model to investigate the manufacturer's profit-oriented decisions.

Findings

The results show the government's carbon constraints cannot influence the manufacturer's profit, but the consumer's low-carbon preference in the advance selling period can. Interestingly, the manufacturer will make fewer reduction efforts even when the consumers have stronger environmental awareness. In addition, the increasing consumer price sensitivity will exacerbate the profit loss from mandatory emissions reduction. Overall, for achieving a win–win situation between emission reduction and profit growth, green manufacturers should not only consider the sales strategies, market demand, and government constraints in a low-carbon market, but also pay attention to the uncertainty of green technology innovation.

Originality/value

With the consideration of the government's carbon emission constraints, uncertain demand, and low-carbon consumer's preferences, the authors' study innovatively incorporates the joint impacts of advance selling strategy and emission reduction effort strategy and then differentiates between two cases that pertain to the diverse carbon emission regulations.

Details

Industrial Management & Data Systems, vol. 122 no. 12
Type: Research Article
ISSN: 0263-5577

Keywords

Article
Publication date: 29 December 2022

Ibon Gil de San Vicente and Bart Kamp

This study aims to explore the requirements that manufacturing companies must meet when implementing advanced services involving financial solutions.

Abstract

Purpose

This study aims to explore the requirements that manufacturing companies must meet when implementing advanced services involving financial solutions.

Design/methodology/approach

This study develops a framework to assess the applicability of advanced services from a financial perspective, which is applied in a multi-case study setting.

Findings

This study identifies relevant internal and external conditions to the business implementing financialised advanced services – such as the finance function’s level of sophistication, the capacity to assess market potential or the ability to use financial structuring to attract new financial players – that help predict the likelihood of adopting advanced services involving financial solutions. The research suggests planning operations as a “financial product” from the viewpoint of the financer and investor.

Research limitations/implications

The financing culture and market disparities may condition the relative weight of the dimensions analysed in the framework.

Practical implications

Launching services involving financial solutions is a complex process, and hence, the proposed framework can help managers identify the major adjustments needed to embrace those advanced service modalities.

Originality/value

This study investigates the role of financial solutions in advanced services, from both the conceptual and business perspectives.

Details

Journal of Business & Industrial Marketing, vol. 38 no. 10
Type: Research Article
ISSN: 0885-8624

Keywords

Article
Publication date: 9 March 2021

Xin Yu

In heterogeneously segmented markets, collaborating with product users in product innovation is important for business success. End user innovators and embedded user innovators…

Abstract

Purpose

In heterogeneously segmented markets, collaborating with product users in product innovation is important for business success. End user innovators and embedded user innovators differ in terms of their prior embeddedness in the target industry. The purpose of this study is twofold. First, the authors empirically compare these two types of user innovators in terms of their diffusion channel selection. Second, the authors analyze how the technological advances of their innovations affect this difference.

Design/methodology/approach

Using an online questionnaire survey, this study collected a sample of 237 user-generated innovations in Japan and analyzed several hypotheses using quantitative statistical approaches.

Findings

The analysis shows that embedded user innovators are more likely than end user innovators to transfer their innovations to producers rather than peers. As the technological advances of their innovations increase, end user innovators' likelihood of transferring their innovation to producers increases more significantly than that of embedded user innovators.

Originality/value

This is the first paper to investigate the difference between end user innovators and embedded user innovators with respect to their diffusion channel selection as well as the moderating role of technological advances. The findings bring new perspectives to the domains of user–producer collaboration and technology transfer.

Details

European Journal of Innovation Management, vol. 25 no. 4
Type: Research Article
ISSN: 1460-1060

Keywords

Article
Publication date: 8 April 2014

Anna-Maria Talonpoika, Sari Monto, Miia Pirttilä and Timo Kärri

The cash conversion cycle (CCC) is widely used in the academic studies of working capital management and supply chain efficiency. The purpose of this paper is to introduce a…

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Abstract

Purpose

The cash conversion cycle (CCC) is widely used in the academic studies of working capital management and supply chain efficiency. The purpose of this paper is to introduce a modification of this measure that takes into account advance payments as a component of operational working capital.

Design/methodology/approach

A new measure, the modified cash conversion cycle (mCCC) is introduced and tested with empirical data of companies in Helsinki Stock Exchange.

Findings

The mCCC reveals the real efficiency of operational working capital in companies that receive advance payments to a remarkable extent.

Research limitations/implications

The mCCC can be used in empirical analysis in academic studies. In this paper, the empirical data are used only for testing the mCCC. The paper concerns received advance payments, but the mCCC can also be extended also to other components of operational working capital ignored by the traditional CCC.

Practical implications

The paper offers insights into the variations of CCC for class teachers, and business practitioners, particularly financiers, who deal with operational working capital, cash flow predictions and calculations.

Originality/value

There are current items that may have a remarkable effect on operational working capital, but traditionally only inventories, accounts receivable and accounts payable are discussed. The authors argue that also other current items should be taken into account, if they affect the efficiency of operational working capital. The new mCCC is encouraged to be used instead of the CCC when observing working capital management.

Details

International Journal of Productivity and Performance Management, vol. 63 no. 3
Type: Research Article
ISSN: 1741-0401

Keywords

Article
Publication date: 26 February 2019

Jessie DeAro, Sharon Bird and Shermaine Mitchell Ryan

Supporting the advancement of science, technology, engineering and mathematics (STEM) in ways that help to ensure the health, prosperity, welfare and security of the nation has…

Abstract

Purpose

Supporting the advancement of science, technology, engineering and mathematics (STEM) in ways that help to ensure the health, prosperity, welfare and security of the nation has been central to the mission of the US National Science Foundation (NSF) since 1950, the year Congress created the agency. Preparing a highly qualified and diverse STEM workforce plays a central role in supporting this mission. The paper aims to discuss these issues.

Design/methodology/approach

Over the past several decades, many positive steps have been taken throughout the US education system to help ensure a more diverse STEM workforce. Even so, women remain underrepresented among STEM faculty in higher education, especially at the upper ranks. Contributing to women’s underrepresentation are systemic obstacles to the recruitment, retention and promotion of women of different racial, ethnic, disability, sexual orientations and nationality statuses.

Findings

The NSF ADVANCE Program is designed to address these barriers. Success for ADVANCE is, therefore, best defined in terms of the changes made to the structures and climates of academic workplaces, rather than in numbers of women hired, retained or promoted in any one institution at a given point in time.

Originality/value

This introduction briefly examines the origins of ADVANCE, key transitions in the program over time, its reach nationally and internationally, and its future.

Details

Equality, Diversity and Inclusion: An International Journal, vol. 38 no. 2
Type: Research Article
ISSN: 2040-7149

Keywords

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