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1 – 10 of 17Quan Yuan, Xuecai Xu, Tao Wang and Yuzhi Chen
This study aims to investigate the safety and liability of autonomous vehicles (AVs), and identify the contributing factors quantitatively so as to provide potential insights on…
Abstract
Purpose
This study aims to investigate the safety and liability of autonomous vehicles (AVs), and identify the contributing factors quantitatively so as to provide potential insights on safety and liability of AVs.
Design/methodology/approach
The actual crash data were obtained from California DMV and Sohu websites involved in collisions of AVs from 2015 to 2021 with 210 observations. The Bayesian random parameter ordered probit model was proposed to reflect the safety and liability of AVs, respectively, as well as accommodating the heterogeneity issue simultaneously.
Findings
The findings show that day, location and crash type were significant factors of injury severity while location and crash reason were significant influencing the liability.
Originality/value
The results provide meaningful countermeasures to support the policymakers or practitioners making strategies or regulations about AV safety and liability.
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Grace W.Y. Wang, Zhisen Yang, Di Zhang, Anqiang Huang and Zaili Yang
This study aims to develop an assessment methodology using a Bayesian network (BN) to predict the failure probability of oil tanker shipping firms.
Abstract
Purpose
This study aims to develop an assessment methodology using a Bayesian network (BN) to predict the failure probability of oil tanker shipping firms.
Design/methodology/approach
This paper proposes a bankruptcy prediction model by applying the hybrid of logistic regression and Bayesian probabilistic networks.
Findings
The proposed model shows its potential of contributing to a powerful tool to predict financial bankruptcy of shipping operators, and provides important insights to the maritime community as to what performance measures should be taken to ensure the shipping companies’ financial soundness under dynamic environments.
Research limitations/implications
The model and its associated variables can be expanded to include more factors for an in-depth analysis in future when the detailed information at firm level becomes available.
Practical implications
The results of this study can be implemented to oil tanker shipping firms as a prediction tool for bankruptcy rate.
Originality/value
Incorporating quantitative statistical measurement, the application of BN in financial risk management provides advantages to develop a powerful early warning system in shipping, which has unique characteristics such as capital intensive and mobile assets, possibly leading to catastrophic consequences.
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Stefan Colza Lee and William Eid Junior
This paper aims to identify a possible mismatch between the theory found in academic research and the practices of investment managers in Brazil.
Abstract
Purpose
This paper aims to identify a possible mismatch between the theory found in academic research and the practices of investment managers in Brazil.
Design/methodology/approach
The chosen approach is a field survey. This paper considers 78 survey responses from 274 asset management companies. Data obtained are analyzed using independence tests between two variables and multiple regressions.
Findings
The results show that most Brazilian investment managers have not adopted current best practices recommended by the financial academic literature and that there is a significant gap between academic recommendations and asset management practices. The modern portfolio theory is still more widely used than the post-modern portfolio theory, and quantitative portfolio optimization is less often used than the simple rule of defining a maximum concentration limit for any single asset. Moreover, the results show that the normal distribution is used more than parametrical distributions with asymmetry and kurtosis to estimate value at risk, among other findings.
Originality/value
This study may be considered a pioneering work in portfolio construction, risk management and performance evaluation in Brazil. Although academia in Brazil and abroad has thoroughly researched portfolio construction, risk management and performance evaluation, little is known about the actual implementation and utilization of this research by Brazilian practitioners.
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Xi Jiao, Yuan Zheng and Zhen Liu
A better understanding of the processes that shape households’ adaptation decisions is essential for developing pertinent policies locally, thereby enabling better adaptation…
Abstract
Purpose
A better understanding of the processes that shape households’ adaptation decisions is essential for developing pertinent policies locally, thereby enabling better adaptation across scales and multiple stakeholders. This paper aims to examine the determinants of household decisions to adapt, it is also possible to target factors that facilitate or constrain adaptation. This helps to identify key components of current adaptive capacity, which leads to important insights into households’ competence to adapt in the future.
Design/methodology/approach
This paper takes a full-pledged approach examining factors and processes that shape households’ climate adaptation decision-making in rural Cambodia at three levels: adaptation status, adaptation intensity and choices of adaptation strategy. The three-stage analyses are materialized by applying the double hurdle model and multivariate probit model, which provides a potential way to systematically assess household adaptation decision-making in rural settings.
Findings
Results show a high level of involvement in adaptation among local households who are facing multiple stressors including climatic risks. The findings suggest that perceived climate change influence households’ decisions in both adaptation status and intensity. Access to financial credit, farmland size, water availability and physical asset holdings are identified as key factors promoting the adoption of more adaptation measures. To facilitate adaptation, collective effort and support at community level is important in providing knowledge based climate information dissemination and early warning systems. Public sector support and development aid programs should focus on positive triggers for targeted community and household adaptation.
Originality/value
The study, to the authors’ best knowledge, is one of the first studies to investigate the determinants of local adaptation decision-making systematically in Cambodia. It also provides a comprehensive approach to improve understanding of adaptation decision-making processes by exploring how various capital assets are associated with different stages of adaptation decisions. The findings contribute to policy implications enlightening adaptation planning at multi-scales with knowledge of key factors, which enhance local adaptive capacity to reduce climate change vulnerability.
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Michael Nkuba, Raban Chanda, Gagoitseope Mmopelwa, Edward Kato, Margaret Najjingo Mangheni and David Lesolle
This paper aims to investigate the effect of using indigenous forecasts (IFs) and scientific forecasts (SFs) on pastoralists’ adaptation methods in Rwenzori region, Western Uganda.
Abstract
Purpose
This paper aims to investigate the effect of using indigenous forecasts (IFs) and scientific forecasts (SFs) on pastoralists’ adaptation methods in Rwenzori region, Western Uganda.
Design/methodology/approach
Data were collected using a household survey from 270 pastoralists and focus group discussions. The multivariate probit model was used in the analysis.
Findings
The results revealed that pastoralists using of IF only more likely to be non-farm enterprises and livestock sales as adaptation strategies. Pastoralists using both SF and IF were more likely to practise livestock migration.
Research limitations/implications
Other factors found to be important included land ownership, land tenure, gender, education level, non-farm and productive assets, climate-related risks and agricultural extension access.
Practical implications
Increasing the number of weather stations in pastoral areas would increase the predictive accuracy of scientific climate information, which results in better adaptive capacity of pastoralists. Active participation of pastoral households in national meteorological dissemination processes should be explored.
Social implications
A two-prong approach that supports both mobile and sedentary pastoralism should be adopted in rangeland development policies.
Originality/value
This study has shown the relevance of IFs in climate change adaptation methods of pastoralists. It has also shown that IFs compliment SFs in climate change adaptation in pastoralism.
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Mark Lokanan, Vincent Tran and Nam Hoai Vuong
The purpose of this paper is to evaluate the possibility of rating the credit worthiness of a firm’s quarterly financial report using a dynamic anomaly detection method.
Abstract
Purpose
The purpose of this paper is to evaluate the possibility of rating the credit worthiness of a firm’s quarterly financial report using a dynamic anomaly detection method.
Design/methodology/approach
The study uses a data set containing financial statements from Quarter 1 – 2001 to Quarter 4 – 2016 of 937 Vietnamese listed firms. In sum, 24 fundamental financial indices are chosen as control variables. The study employs the Mahalanobis distance to measure the proximity of each data point from the centroid of the distribution to point out the extent of the anomaly.
Findings
The finding shows that the model is capable of ranking quarterly financial reports in terms of credit worthiness. The execution of the model on all observations also revealed that most financial statements of Vietnamese listed firms are trustworthy, while almost a quarter of them are highly anomalous and questionable.
Research limitations/implications
The study faces several limitations, including the availability of genuine accounting data from stock exchanges, the strong assumptions of a simple statistical distribution, the restricted timeframe of financial data and the sensitivity of the thresholds for anomaly levels.
Practical implications
The study opens an avenue for ordinary users of financial information to process the data and question the validity of the numbers presented by listed firms. Furthermore, if fraud information is available, similar research can be conducted to examine the tendency for companies with anomalous financial reports to commit fraud.
Originality/value
This is the first paper of its kind that attempts to build an anomaly detection model for Vietnamese listed companies.
Jan F. Klein, Yuchi Zhang, Tomas Falk, Jaakko Aspara and Xueming Luo
In the age of digital media, customers have access to vast digital information sources, within and outside a company's direct control. Yet managers lack a metric to capture…
Abstract
Purpose
In the age of digital media, customers have access to vast digital information sources, within and outside a company's direct control. Yet managers lack a metric to capture customers' cross-media exposure and its ramifications for individual customer journeys. To solve this issue, this article introduces media entropy as a new metric for assessing cross-media exposure on the individual customer level and illustrates its effect on consumers' purchase decisions.
Design/methodology/approach
Building on information and signalling theory, this study proposes the entropy of company-controlled and peer-driven media sources as a measure of cross-media exposure. A probit model analyses individual-level customer journey data across more than 25,000 digital and traditional media touchpoints.
Findings
Cross-media exposure, measured as the entropy of information sources in a customer journey, drives purchase decisions. The positive effect is particularly pronounced for (1) digital (online) versus traditional (offline) media environments, (2) customers who currently do not own the brand and (3) brands that customers perceive as weak.
Practical implications
The proposed metric of cross-media exposure can help managers understand customers' information structures in pre-purchase phases. Assessing the consequences of customers' cross-media exposure is especially relevant for service companies that seek to support customers' information search efforts. Marketing agencies, consultancies and platform providers also need actionable customer journey metrics, particularly in early stages of the journey.
Originality/value
Service managers and marketers can integrate the media entropy metric into their marketing dashboards and use it to steer their investments in different media types. Researchers can include the metric in empirical models to explore customers' omni-channel journeys.
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