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Abstract

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Community Management of Urban Open Spaces in Developing Economies
Type: Book
ISBN: 978-1-78560-639-7

Article
Publication date: 1 October 2003

Raphael N. Markellos, Terence Mills and Costas Siriopoulos

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 General…

Abstract

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.

Details

Managerial Finance, vol. 29 no. 9
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 15 January 2021

Kazi Md Tarique, Rafikul Islam and Mustafa Omar Mohammed

The purpose of this paper is to develop and subsequently validate a Maqasid al-Shari’ah-based performance evaluation model for Islamic banks.

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Abstract

Purpose

The purpose of this paper is to develop and subsequently validate a Maqasid al-Shari’ah-based performance evaluation model for Islamic banks.

Design/methodology/approach

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.

Findings

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.

Research limitations/implications

Not being able to test the model statistically or empirically can be considered as a limitation.

Practical implications

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.

Social implications

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.

Originality/value

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.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 14 no. 2
Type: Research Article
ISSN: 1753-8394

Keywords

Article
Publication date: 17 November 2023

Laura Broccardo, Paola Vola, Safiya Mukhtar Alshibani and Riccardo Tiscini

Digitalization is affecting business management and pushing for new strategies, innovative products, new ways to communicate with stakeholders and new channels. This phenomenon is…

Abstract

Purpose

Digitalization is affecting business management and pushing for new strategies, innovative products, new ways to communicate with stakeholders and new channels. This phenomenon is unavoidable, and companies have to face it in a holistic and integrated way. One holistic and interconnected approach, when studying enterprise challenges, is represented by the business process management method, a fitting mechanism when digitalization needs to be amalgamated in business practices, enhancing the intellectual capital (IC), therefore, this study researches digitalization under business process lens, in a sample of small and medium enterprises (SMEs), that constitute an under-explored set, as regard digitalization, process management and IC. The research aims to explore the digital tools and business processes link and the related impact on performance, benefits and IC.

Design/methodology/approach

In exploring digitalization, a sample of Italian SMEs was scrutinized. The data were elaborated using two types of tests: (1) the binomial tests for the categorical questions and (2) the zeta test was used for quantitative variables. Furthermore, the partial least square (PLS)-SEM model was applied.

Findings

Findings reveal that some digital tools are more adopted in the sample analysed, and also some particular digital tools are more inclined to support certain business processes. Furthermore, not only performance benefits emerge, but also benefits in terms of better communication and faster decisions, supporting the decision making process of managers, also considering that business processes approach is one way to manage IC.

Practical implications

Thanks to the conducted research it is possible to make aware managers and owners of SMEs to consciously choose the right type of digitalization investments, without neglecting training programme, to realize the company digital transformation, providing a map and bearing in mind the value added creation, protecting their IC.

Originality/value

The paper's originality is represented by the contribution in opening the black box about digitalization, business process management and IC in small and medium companies.

Details

Journal of Intellectual Capital, vol. 25 no. 1
Type: Research Article
ISSN: 1469-1930

Keywords

Article
Publication date: 13 October 2021

David Diaz, José L. Ruiz and Pablo Tapia

In an era of increasing financial vulnerability, people are not saving enough to either fund their future pension benefits or having precautionary savings. The authors propose…

Abstract

Purpose

In an era of increasing financial vulnerability, people are not saving enough to either fund their future pension benefits or having precautionary savings. The authors propose that pension knowledge makes people increase their probability of having voluntary pension and banking savings.

Design/methodology/approach

The authors use the social protection survey in Chile, a unique set of panel data for affiliates in 2006 and 2009. First, the authors use clustering algorithms to find naturally occurring groupings in the level of pension knowledge. Second, the authors run a probit regression model for explaining the probability of having a voluntary pension and banking savings, using as determinants the level of pension knowledge and several control variables that are usually explored in the literature.

Findings

The authors find two clusters of pension knowledge in the Chilean pension system. In addition, the authors find that there is a positive correlation between high pension knowledge and good financial decision-making, as these people have voluntary retirement and banking savings.

Practical implications

As people who spend time planning accumulate more wealth, it is important to develop public policies that promote the advantages to know better about the benefits of having voluntary savings for the long-term horizon. Conscientious people are also more likely to have voluntary savings.

Social implications

Policy programs to increase to be responsible can have positive effects on society's welfare.

Originality/value

Up to the authors’ knowledge, this is the first study that connects clustering algorithms and pension knowledge.

Propósito

En una era de creciente vulnerabilidad financiera, las personas no están ahorrando lo suficiente para financiar sus futuras pensiones ni para tener ahorros precautorios. Proponemos que el conocimiento de las pensiones hace que las personas aumenten su probabilidad de tener ahorros voluntarios para pensiones y bancarios.

Metodología

Usamos la Encuesta de Protección Social en Chile, una base única de datos de panel para afiliados en 2006 y 2009. En primer lugar, usamos algoritmos de clustering para encontrar agrupaciones naturales en cuanto a nivel de conocimiento sobre pensiones. En segundo lugar, usamos un modelo de regresión probit para explicar la probabilidad de tener ahorros voluntarios para pensión y bancarios, utilizando como determinantes el nivel de conocimiento sobre pensiones y variables de control.

Resultados

Encontramos dos grupos de conocimiento sobre pensiones en el sistema de pensiones chileno. Además, encontramos que existe una correlación positiva entre un alto conocimiento de las pensiones y tener ahorros voluntarios.

Implicancias prácticas

A medida que las personas dedican tiempo a planificar acumulan más riqueza, por lo que es importante desarrollar políticas públicas que promuevan las ventajas para conocer mejor los beneficios de contar con ahorros voluntarios para un horizonte de largo plazo.

Implicancias sociales

Los programas de políticas para aumentar la responsabilidad pueden tener efectos positivos en el bienestar de la sociedad.

Originalidad

Este es el primer estudio que conecta algoritmos de agrupación en clústeres para el conocimiento de las pensiones y sus implicaciones en la toma de decisiones financieras.

Article
Publication date: 28 October 2020

Jubalt Alvarez Salazar

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…

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Originality/value

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.

Propósito

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.

Diseño/metodología/enfoque

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.

Hallazgos

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.

Originalidad/valor

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.

Article
Publication date: 1 May 1985

A.H. Ingram and P.J. Sloane

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…

Abstract

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.

Details

International Journal of Manpower, vol. 6 no. 5
Type: Research Article
ISSN: 0143-7720

Article
Publication date: 1 April 1993

Stephen Munday and David W. Young

The attitudes of doctors towards Computer‐Based Information Systems(CBIS) are crucial to the successful implementation of medical audit,resource management and clinical protocols…

Abstract

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.

Details

Journal of Management in Medicine, vol. 7 no. 4
Type: Research Article
ISSN: 0268-9235

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Article
Publication date: 1 February 1998

Jasim Abdulla

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…

Abstract

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.

Details

Asian Review of Accounting, vol. 6 no. 2
Type: Research Article
ISSN: 1321-7348

Article
Publication date: 11 April 2016

Cheng-Jye Luh, Sheng-An Yang and Ting-Li Dean Huang

– The purpose of this paper is to estimate Google search engine’s ranking function from a search engine optimization (SEO) perspective.

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Abstract

Purpose

The purpose of this paper is to estimate Google search engine’s ranking function from a search engine optimization (SEO) perspective.

Design/methodology/approach

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.

Findings

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.

Research limitations/implications

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.

Practical implications

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.

Originality/value

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.

Details

Online Information Review, vol. 40 no. 2
Type: Research Article
ISSN: 1468-4527

Keywords

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