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1 – 10 of 16Z. Seyda Deligonul, Brian R. Chabowski, Steven H. Seggie, Shichun Xu and S. Tamer Cavusgil
We searched JM from 1990 to 2005 to identify all studies that employed OLS regression.1 The search resulted in 83 articles with 147 OLS regressions. Many authors specifically…
Abstract
We searched JM from 1990 to 2005 to identify all studies that employed OLS regression.1 The search resulted in 83 articles with 147 OLS regressions. Many authors specifically state that they used OLS and these were promptly included in the sample. Other authors acknowledged regression as a methodological procedure without explicitly specifying an estimation technique. To inquire whether OLS was used, we communicated with all of these authors. In all, 51 authors were contacted, with 44 responding. Of the 44 that responded 43 had used OLS; the only exception was subsequently excluded from the analysis. The remaining seven articles were checked once more, and consensus was reached that OLS had most likely been used. Therefore, they were also included in the study.
Do Tien Sy, Zwe Man Aung and Nguyen Thanh Viet
Claims and disputes are often unavoidable in the construction industry due to its unique and complex characteristics involving the massive investment of capital, lengthy project…
Abstract
Claims and disputes are often unavoidable in the construction industry due to its unique and complex characteristics involving the massive investment of capital, lengthy project duration, and multiple project stakeholders. This chapter intends to identify the critical construction claims attributes, compare the perceptions of major stakeholders on different claim attributes, and investigate the contrast of the top five claim attributes between this study and previous ones. The literature review resulted in 48 claim attributes responsible for the construction project schedule delays. These attributes were then presented to Vietnam construction industry (VCI) practitioners in the form of a questionnaire survey. Data analysis was done based on the collected 113 qualified samples. Relative importance index (RII) was applied to determine the ranking of claim attributes. The results were that the top five causes of claims, that is, payment delays, mistakes by contractor during construction stage, delays in work progress by the contractor, financial failure of the contractor, and frequently changing requirements by the owner, lead to the schedule delays in VCI. These findings can assist the local industry practitioners and foreign companies seeking a share in the VCI market in understanding the causes of construction claims comprehensively and formulating the countermeasures to minimise their impacts and hence reduce the unnecessary losses and raise the likelihood of success as well as maintain sustainable relationships among stakeholders.
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Charles B. Moss, James F. Oehmke and Alexandre Lyambabaje
This chapter examines whether donor investments in a market channel that rewards product quality increase food security in Rwanda. Specifically, do policy interventions that…
Abstract
Purpose
This chapter examines whether donor investments in a market channel that rewards product quality increase food security in Rwanda. Specifically, do policy interventions that improve marketing channels increase the price received by farmers also increases smallholder income? Furthermore, does this increase in income improve food security?
Methodology/approach
To examine the effect of the policy intervention, we estimates the relationship between the share of income spent on food and income (Working’s Model) using ordinary least squares and a logit regression.
Findings
The empirical results support Working’s conjecture (i.e., the share of income spent on food declines as income increases). Furthermore, whether the household benefits from the improved market channel does not affect the share of income spent on food.
Practical implications
Increased household income appears to improve food security. However, the lack of a statistically significant effect of the policy intervention variable indicates that commercial agriculture does not eliminate household food production at home.
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Øystein Jensen, Hyangmi Kim and Joseph S. Chen
The aim of this chapter is to delineate a product framework concerning managed visitor attractions (MVA), which highlights the supply-chain aspects of destinations. It first…
Abstract
The aim of this chapter is to delineate a product framework concerning managed visitor attractions (MVA), which highlights the supply-chain aspects of destinations. It first touches on the rationales for developing such a framework and then constructs a framework composed of a set of product components deriving from the extant literature. Consequently, an version of a product component framework, fastening on an accumulated sample of attraction cases, is presented through three illustrative cases. In the conclusion section, this study elaborates on the study limitation while connoting how the resultant data could shed light on the role of the components of the MVA product in the creation of visitor experiences.
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Nikolaos Giannellis and Georgios P. Kouretas
The aim of this study is to examine whether China’s exchange rate follows an equilibrium process and consequently to answer the question of whether or not China’s international…
Abstract
Purpose
The aim of this study is to examine whether China’s exchange rate follows an equilibrium process and consequently to answer the question of whether or not China’s international competitiveness fluctuates in consistency with equilibrium.
Design/methodology/approach
The theoretical background of the paper relies on the Purchasing Power Parity (PPP) hypothesis, while the econometric methodology is mainly based on a nonlinear two-regime Threshold Autoregressive (TAR) unit root test.
Findings
The main finding is that China’s price competitiveness was not constantly following a disequilibrium process. The two-regime threshold model shows that PPP equilibrium was confirmed in periods of relatively high – compared to the estimated threshold – rate of real yuan appreciation. Moreover, it is implied that the fixed exchange rate regime cannot ensure external balance since it can neither establish equilibrium in the foreign exchange market, nor confirm that China’s international competitiveness adjustment follows an equilibrium process.
Practical implications
The results do not imply that China acts as a currency manipulator. However, a main policy implication of the paper is that China should continue appreciating the yuan to establish external balance.
Originality/value
This paper is the first which accounts for a nonlinear two-regime process toward a threshold, which is defined to be the rate of change in China’s international competitiveness. Consequently, the paper draws attention to the role of China’s international competiveness in accepting the PPP hypothesis.
Javier Hidalgo, Heejun Lee, Jungyoon Lee and Myung Hwan Seo
The authors derive a risk lower bound in estimating the threshold parameter without knowing whether the threshold regression model is continuous or not. The bound goes to zero as…
Abstract
The authors derive a risk lower bound in estimating the threshold parameter without knowing whether the threshold regression model is continuous or not. The bound goes to zero as the sample size n grows only at the cube-root rate. Motivated by this finding, the authors develop a continuity test for the threshold regression model and a bootstrap to compute its p-values. The validity of the bootstrap is established, and its finite-sample property is explored through Monte Carlo simulations.
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This chapter estimates a regime switching Taylor Rule for the European Central Bank (ECB) in order to investigate some potential nonlinearities in the forward-looking policy…
Abstract
This chapter estimates a regime switching Taylor Rule for the European Central Bank (ECB) in order to investigate some potential nonlinearities in the forward-looking policy reaction function within a real-time framework. In order to compare observed and predicted policy behavior, the chapter estimates Actual and Perceived regime switching Taylor Rules for the ECB. The former is based on the refi rate set by the Governing Council while the latter relies on the professional point forecasts of the refi rate performed by a large investment bank before the upcoming policy rate decision. The empirical evidence shows that the Central Bank’s main policy rate has switched between two regimes: in the first one the Taylor Principle is satisfied and the ECB stabilizes the economic outlook, while in the second regime the Central Bank cuts rates more aggressively and puts a higher emphasis on stabilizing real output growth expectations. Second, the results point out that the professional forecasters have broadly well predicted the actual policy regimes. The estimation results are also robust to using consensus forecasts of inflation and real output growth. The empirical evidence from the augmented Taylor Rules shows that the Central Bank has most likely not responded to the growth rates of M3 and the nominal effective exchange rate and the estimated regimes are robust to including these additional variables in the regressions. Finally, after the bankruptcy of Lehman Brothers the policy rate has switched to a crisis regime as the ECB has focused on preventing a further decline in economic activity and on securing the stability of the financial system.
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