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This paper employs three months of observations sampled at 60‐second intervals to analyzethe behavior of two basket indices from the emerging Athens Stock Exchange: the…
This paper employs three months of observations sampled at 60‐second intervals to analyze the behavior of two basket indices from the emerging Athens Stock Exchange: the General Index of the Main (Listed) Securities Market and the Index of the Secondary (Unlisted) Securities Market. The empirical analysis employs robust regression using dummy variables to uncover a rich variety of time‐of‐day regularities in the first four moments of the distribution of returns, the tail behavior, and the dynamic and cross‐dynamic behavior of the two markets. Markets tend to behave differently during their opening and closing, while results are invariably sensitive to outliers. Overall, the results are comparable to those reported for developed equity markets. However, in contrast to other studies, we find no conclusive evidence of long‐memory in either the mean or variance process. ARMA models of seasonally differenced absolute returns were used as a simple but effective way of dealing with the strong regularity in volatility.
The purpose of this paper is to develop and subsequently validate a Maqasid al-Shari’ah-based performance evaluation model for Islamic banks.
The purpose of this paper is to develop and subsequently validate a Maqasid al-Shari’ah-based performance evaluation model for Islamic banks.
Initially, a comprehensive review of the existing and relevant literature is carried out and a prototype evaluation model has been developed. This has been augmented and refined through in-depth interviews of Shari’ah scholars and banking experts. Afterwards, the modified model has been validated by taking inputs from academics and Islamic banking practitioners through a focus group discussion.
The major outcome of the present work is a Maqasid al-Shari’ah-based performance evaluation model for Islamic banks. At the inception of the work, the Maqasid frameworks of Imam al-Ghazali and Abu Zahrah were combined. The combined model incorporates various dimensions, elements and the corresponding measures of three components, namely, justice, education and maslahah.
Not being able to test the model statistically or empirically can be considered as a limitation.
The comprehensive theoretical framework of the developed model addresses all aspects of human well-being. Thus, if implemented the model will ensure welfare for all the stakeholders. It will also encourage the regulators to introduce new reporting standards which will be more reflective of Maqasid al-Shari’ah.
Fulfilling Maqasid will create a positive brand image for Islamic banks, which will attract more customers both Muslims and non-Muslims. Thus, this will create a wider scope for earning more revenues.
There has been concern that Islamic banks are converging towards conventional banking systems and the same performance measure instrument is being used to evaluate the performance of both Islamic and conventional banks. The present work has developed a Maqasid al-Shari’ah-based performance evaluation model for Islamic banks.
The purpose of this paper is to use a combination of resource-based theory and dynamic capabilities theory to explore the phenomenon of startup survival in an emerging…
The purpose of this paper is to use a combination of resource-based theory and dynamic capabilities theory to explore the phenomenon of startup survival in an emerging entrepreneurial ecosystem.
The study has a phenomenological research design, with an exploratory scope and qualitative approach. It uses in-depth interviews to identify the perceptions of ecosystem agents about the phenomenon of survival.
This paper argues that startup survival should be studied as a construct that is reflected by four conditions: break-even point, accelerated growth, cash stock and continuous operation. Furthermore, it is formed by the interaction of five mainly interacting resources: human capital, social capital, entrepreneurial capital, organizational capital and the incubation process.
The study offers a holistic model of survival that could be applicable to incipient entrepreneurial ecosystems such as the Peruvian one. This model presents survival as a reflexive-formative construct and not as a dichotomic variable (enterprise operating/enterprise closed) as has been commonly considered in the literature.
En este documento se utiliza una combinación de la teoría basada en los recursos y la teoría de las capacidades dinámicas para explorar el fenómeno de la sobrevivencia de startups en un ecosistema emprendedor incipiente.
El estudio tiene un diseño de investigación fenomenológica, con un alcance exploratorio y un enfoque cualitativo. Utiliza entrevistas en profundidad para identificar las percepciones de los agentes del ecosistema sobre el fenómeno de la sobrevivencia.
En este documento se argumenta que la sobrevivencia de los startups debe estudiarse como un constructo que se refleja en cuatro condiciones: el punto de equilibrio, el crecimiento acelerado, el stock de efectivo y la operación continua. Además, se forma por la interacción de cinco categorías de recursos organizacionales: el capital humano, el capital social, el capital emprendedor, el capital organizacional y el proceso de incubación.
El documento ofrece un modelo holístico de sobrevivencia que podría ser aplicable en ecosistemas emprendedores incipientes como el peruano. Este modelo presenta a la sobrevivencia como un constructo reflexivo-formativo y no como una variable dicotómica (empresa en actividad / empresa cerrada) como se ha considerado comúnmente en la literatura.
It is often the case that policy makers are slow to adopt the results of economic analysis in their policy formulation. Shiftworking is one of those rare cases where policymakers have seized upon something as having particular significance which economists have on the whole neglected. Robin Marris published a seminal work, The Economics of Capital Utilisation, in 1964, but it was not until the later 1970s that further substantial work was undertaken by economists and shiftworking appears to be regarded as hardly worth a mention in the standard labour economics texts. This relative neglect by economists is surprising given the significance and growth of shiftworking in a number of countries. Where data are available it is estimated for instance that, as a rough approximation, the number of workers engaged on shiftwork doubled between 1950 and the mid‐1970s. For the UK one estimate is that between 1954 and 1964 the proportion of manual employees working shifts in manufacturing industry increased from 12 to 20 per cent, and that by 1978 the figure was 34 per cent (that is approximately 1.5 out of 4.27 million employees). Shiftworking has in fact reflected a conflict of goals for the policymakers. On the one hand in both the International Labour Organisation (ILO) and the European Commission (EC) concern has been expressed at the possible harmful effects on workers of particular shiftworking patterns and proposals have been made to limit its incidence and control its form (this being particularly the case with nightwork and with the hours of women and young persons). On the other hand, concern with the growing problem of unemployment has led policymakers in other sections of these same bodies to propose an extension of shiftworking, as one particular form of work‐sharing, in order to generate jobs. The purpose of this paper is to examine the development of shiftworking for male manual workers in British manufacturing industry in order to cast some light on these issues. In particular supply equations are estimated in order to understand what factors lead workers to select this particular form of work and demand equations to determine the nature of the employer's demand for labour. These structural equations form the basis of a simultaneous system in which plant size (measured in terms of employment) is estimated as a function of shiftworking and a vector of other explanatory variables in order to determine whether in fact it is reasonable to conclude that an extension of shiftworking will generate additional jobs in Britain. Before presenting the regression results it is however necessary to examine in more detail these socio‐economic policy aspects of shiftwork, to clarify the theoretical framework and to discuss some of the problems of estimation which stem largely from data deficiencies, but also involve problems of simultaneity notably in the relationships between shiftworking, capital intensity and plant size.
The attitudes of doctors towards Computer‐Based Information Systems(CBIS) are crucial to the successful implementation of medical audit,resource management and clinical…
The attitudes of doctors towards Computer‐Based Information Systems (CBIS) are crucial to the successful implementation of medical audit, resource management and clinical protocols. We present the results of a postal questionnaire survey of 846 consultants (471 replies) on their attitudes towards computers. The survey revealed doctors′ requirements (demands) of CBISs and also their concerns (expectations) about the likely impact of these systems. Clear differences are found between the concerns of doctors who are computer users and those who are not. The latter displaying more negative attitudes. It is assumed that if the attitudes of the non‐users become like those of the user′s implementation of CBISs will be more successful. Requirements for CBISs were very similar between the two groups, suggesting that changes in attitudes are not required, but that systems should display the features listed in the demand section of the questionnaire. A strategy for the implementation of CBISs should have two strands. It should meet the demands and reduce the concerns of non‐users over computer systems. The findings of this survey present for the first time an empirical basis for the development of such a strategy.
According to conventional research and political conceptions, illicit drug scenes are often characterised by cultures of crime, violence and deceit and customarily met by…
According to conventional research and political conceptions, illicit drug scenes are often characterised by cultures of crime, violence and deceit and customarily met by repressive law enforcement. However, a growing body of research demonstrates the very diverse nature of drug subcultures. This paper aims to explore this diversity and thereby investigates the psychosocial and socio-spatial features people selling and/or using drugs in the Downtown Eastside of Vancouver (DTES) attribute to the local drug scene.
Qualitative in-depth interviews were conducted with 23 persons with drug selling and/or using experiences in the DTES. Interviews were analysed and interpreted according to grounded theory.
Participants represent the social fabric of the DTES drug scene as comprising complexly interwoven facets and structures including frequent, brutal violence on the one hand and sincere, heart-rending compassion, care and even love on the other.
Police and social and health services can cooperate constructively with the overriding aim of individual and social harm reduction. Thereby, the existing social network and prosocial orientations of a drug scene can be used in effective approaches such as participatory policy strategies and peer-driven interventions.
The literature dealing with the firm's financing decisions in developing capital markets is limited. This paper aims to contribute to the published research by documenting…
The literature dealing with the firm's financing decisions in developing capital markets is limited. This paper aims to contribute to the published research by documenting the perceptions of managers of Omani firms listed on the Muscat Securities Market with regards to the capital structure of their firms. Survey responses show that financial decision‐making behavior of Omani firms can be explained by the “pecking order” view of capital structure. The effect of tax and bankruptcy on capital structure is not clear. Firms' relationships with banks and government shareholdings minimize the effect of financial distress. Further, managers tend not to release information to the suppliers of funds even though this might reduce the cost of funds required. Most firms seem to maintain spare borrowing policy. The conclusion is that executives of Omani firms are not less sophisticated than their American, Australian, British, Korean, Hong Kong, or Singapore counterparts in terms of their decision‐making process related to financial leverage.
– The purpose of this paper is to estimate Google search engine’s ranking function from a search engine optimization (SEO) perspective.
The purpose of this paper is to estimate Google search engine’s ranking function from a search engine optimization (SEO) perspective.
The paper proposed an estimation function that defines the query match score of a search result as the weighted sum of scores from a limited set of factors. The search results for a query are re-ranked according to the query match scores. The effectiveness was measured by comparing the new ranks with the original ranks of search results.
The proposed method achieved the best SEO effectiveness when using the top 20 search results for a query. The empirical results reveal that PageRank (PR) is the dominant factor in Google ranking function. The title follows as the second most important, and the snippet and the URL have roughly equal importance with variations among queries.
This study considered a limited set of ranking factors. The empirical results reveal that SEO effectiveness can be assessed by a simple estimation of ranking function even when the ranks of the new and original result sets are quite dissimilar.
The findings indicate that web marketers should pay particular attention to a webpage’s PR, and then place the keyword in URL, the page title, and snippet.
There have been ongoing concerns about how to formulate a simple strategy that can help a website get ranked higher in search engines. This study provides web marketers much needed empirical evidence about a simple way to foresee the ranking success of an SEO effort.
The purpose of this study is to determine the dimensions for “sustainability-oriented hospitality service innovation (SOHSI)” in the context of food and beverage (F&B…
The purpose of this study is to determine the dimensions for “sustainability-oriented hospitality service innovation (SOHSI)” in the context of food and beverage (F&B) industry. For this to be done, the relationship between service innovation dimensions and the triple bottom line (TBL) dimensions (including social, environmental and economic aspects of sustainability) is investigated.
In this study, primarily a detailed literature review was carried out to specify the dimensions of service innovation in hospitality industry and sustainability as well. Then, fuzzy decision-making trial and evaluation laboratory (DEMATEL), one of the multi-criteria decision-making (MCDM) methods, was used to reveal the causal relationship within these dimensions.
A framework is presented to help F&B organizations make their innovative services more sustainable. F&B servicing companies should focus especially on “environmental entrepreneurship,” “interior design” and “brand management” dimensions to get benefit underway to gain competitive advantage.
In hospitality industry where competition is increasing every day, it is necessary to create brand-new services or offer renowned services via diversified ways, to step forward from competitors. In this regard, it is important for companies to ensure that every innovative service should be sustainable. Until now, researchers have mostly studied environmental dimension of sustainable service innovation. However, there are no studies evaluating sustainability concept with the TBL approach. Therefore, this study contributes to the field of sustainability in hospitality service innovation.
本论文旨在定义 “可持续性导向的酒店服务创新”（SOHSI）在餐饮业的维度。以达到此目的, 本论文研究了服务创新维度和三重底线维度（包括可持续性的社会、环境、和经济三方面）。
本论文主要采用文献综述的方式来定义酒店服务业和可持续领域中的服务创新维度。此外, 本论文使用Fuzzy DEMATEL （决策实验室分析法）, 一种多准测决策法（MCDM）, 以探究为度之间的因果关系。
本论文提出了一个理论模型, 以帮助餐饮企业使得他们的创新服务更加可持续化。餐饮服务企业尤其应该专注“环境企业家精神”、“室内设计”、“品牌管理”等维度, 以获得市场竞争力。企业应该确保每个创新服务都应该是可持续性的。至今为止, 研究者们大多数专注于可持续服务创新中的环境维度。然而, 尚未有研究采用三重底线分析法来探究可持续性这个概念。因此, 本论文对酒店服务创新中的可持续性领域做出贡献。