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1 – 10 of over 200000Habibeh Mir, Farshad Seyednejad, Habib Jalilian, Shirin Nosratnejad and Mahmood Yousefi
Costs estimation is essential and important to resource allocation and prioritizing different interventions in the health system. The purpose of this paper is to estimate the costs…
Abstract
Purpose
Costs estimation is essential and important to resource allocation and prioritizing different interventions in the health system. The purpose of this paper is to estimate the costs of lung cancer in Iran, in 2017.
Design/methodology/approach
This was a prevalence-based cost of illness study with a bottom-up approach costing conducted from October 2016 to April 2017. The sample included 645 patients who referred to Imam Reza hospital, Tabriz, Iran, in 2017. Follow-up interviews were every two months. Hospitalization costs extracted from the patient’s record and outpatient costs, nondirect medical costs and indirect costs collected using questionnaire. SPSS software version 22 was used for the data analysis.
Findings
Mean direct medical costs, nondirect medical costs and indirect costs amounted to 36,637.02 ± 23,515.13 PPP (2016) (251,313,217.83 Rials), 2,025.25 ± 3,303.72 PPP (2016) (16,613,202.53 Rials) and 48,348.55 ± 34,371.84 PPP (2016) (396,599,494.56 Rials), respectively. There was a significant and negative correlation between direct medical costs, direct nonmedical costs, indirect costs and age at diagnosis, and there was a significant and positive correlation between the length of hospital stay and direct medical cost.
Originality/value
As the cost of lung cancer is substantial and there have been little studies in this area, the objective of this study is to investigate the cost of lung cancer and present ways to tackle this.
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The epistemology of project management has been considered imperfect because the gap between theory and practice has not become closer due to unsatisfactory project performance…
Abstract
Purpose
The epistemology of project management has been considered imperfect because the gap between theory and practice has not become closer due to unsatisfactory project performance. Without effective learning, the transfer of learning to the workplace would be uncertain. Therefore, the purpose of this paper is to use the learning study approach, exploring the value of Variation Theory in comparing two typologies of the cost concept for project management teaching.
Design/methodology/approach
To illustrate the application of the theory of variation, a case of teaching the two major cost typologies was demonstrated. A pedagogical setting was designed from the theory for helping students discern the object of learning.
Findings
Students of the target cohort had much fewer errors than previous cohorts in transforming the costs of the first typology used in project management textbooks to those of the second typology used in Microsoft Project.
Originality/value
This is perhaps the first case study to appreciate the use of Variation Theory in project management teaching. Apparently, thinking of how to induce learning and facilitate the transfer of learning should be a productive way for creating excellence in practice.
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Theo C. Haupt and Kersey Pillay
The construction industry contributes significantly to national economic growth and offers substantial opportunities for job creation; however, the industry has continually been…
Abstract
Purpose
The construction industry contributes significantly to national economic growth and offers substantial opportunities for job creation; however, the industry has continually been plagued by workplace accidents. Moreover, employers may not realize the economic magnitude of workplace injury and ill health arising from construction activities. These accidents represent a considerable economic and social burden to employers, employees and to the society as a whole. Despite governments and organisations worldwide maintaining an ongoing commitment towards establishing a working environment free of injury and disease, a great deal of construction accidents continues to frequent our society. The purpose of this study is to conduct an analysis of a sample of 100 construction accident reports to establish, as far as practically reasonable, the total costs of limited types of construction accidents. Costs attributable to each of these accidents were classified either as direct or indirect costs. Through an exhaustive and time-consuming investigation of all available records from various sources and/or kept in various departments, the individual costs were correlated to the various direct and indirect categories.
Design/methodology/approach
This particular study is a combination of explanatory and collective case study approaches, whereby causal effects are determined or a course of events is examined from multiple cases. The preferred form of data collection is left to the researcher to decide (Yin, 2003). When a researcher is considering “how” or “why” questions, a contemporary set of events using primary and secondary documents, over which the researcher has little or no control, the case study approach is feasible (Yin, 2009).
Findings
The costs of construction accidents for the same sample of 100 construction analysed in this study has been estimated at a staggering R32,981,200. Of this total, R10,087,350 has been attributed to direct costs and R22,893,850 has been attributed to indirect costs. The costs of construction accidents are based on four cost components: sick pay, administrative costs, recruitment costs and compensation and insurance costs. It should be noted that the estimates of the costs to employers presented in this study are reflective of the activities and incidents of the reviewed organisation and may not necessarily represent another organisation. The costs of construction accidents values presented in this study reveal that construction accidents present a substantial cost to employers and to the society at large, inclusive of both the direct and indirect costs. It is therefore in the best interest of the employer to identify progressive and advanced approaches to more effectively manage construction health and safety, consequently society at large will benefit tremendously.
Originality/value
Given the high rate of construction accidents experienced, employers are not entirely mindful of the actual costs of construction accidents, especially when considering the hidden or indirect costs of accidents. Various safety research efforts have attempted to quantify the true costs of worker injuries; however, localised systematic information on cost of construction accidents at work is not readily available from administrative statistical data sources; therefore, this study was carried out to estimate the costs, like lost workdays or lost income, are clearly visible and can readily be expressed in monetary value; for a large part,0 however, economic consequences of accidents are somewhat hidden.
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Bassem M. Hijazi and James A. Conover
We examine the empirical relationship between direct equity agency costs measures and corporate governance control mechanisms to control equity agency costs. We measure the three…
Abstract
We examine the empirical relationship between direct equity agency costs measures and corporate governance control mechanisms to control equity agency costs. We measure the three direct agency cost proxies commonly used in the literature: the operating expense; asset turnover; and selling, general, and administrative (SGA) ratios. Internal corporate governance control mechanisms examined are inside ownership (IO), outside ownership concentration (OC), the size of the board of directors (BODs), and the composition of the BODs (proportion of nonexecutive (NE) directors and separation of chief executive officer (CEO) and board chair). The external corporate governance control mechanism examined is the size of bank debt (short-term debt). Univariate and multivariate tests reveal that the only statistically significant relationship between corporate governance control mechanisms and direct equity agency cost measures is the negative relationship between the proportion of IO and direct agency costs. The asset utilization ratio (asset turnover) ratio is the best proxy for direct equity agency costs and can be useful for event studies of announcement period excess returns.
Ranajit Kumar Bairagi and William Dimovski
The purpose of this paper is to investigate the total direct costs of raising external equity capital for US real estate investment trust (REIT) initial public offerings (IPOs).
Abstract
Purpose
The purpose of this paper is to investigate the total direct costs of raising external equity capital for US real estate investment trust (REIT) initial public offerings (IPOs).
Design/methodology/approach
The study provides recent evidence on total direct costs for a comprehensive dataset of 125 US REIT IPOs from 1996 until June 2010. A multivariate OLS regression is performed to determine significant factors influencing the level of total direct costs and also underwriting fees and non‐underwriting direct expenses.
Findings
The study finds economies of scale in total direct costs, underwriting fees and non‐underwriting expenses. The equally (value) weighted average total direct costs are 8.33 percent (7.52 percent), consisting of 6.49 percent (6.30 percent) underwriting fees and 1.87 percent (1.22 percent) non‐underwriting direct expenses. The study finds a declining trend of total direct costs for post 2000 IPOs which is attributed to the declining trend in both underwriting fees and non‐underwriting direct expenses. Offer size is a critical determinant for both total direct costs and their individual components and inversely affects these costs. The total direct costs are found significantly higher for equity REITs than for mortgage REITs and are also significantly higher for offers listed in New York Stock Exchange (NYSE). Underwriting fees appear to be negatively influenced by the offer price, the number of representative underwriters involved in the issue, industry return volatility and the number of potential specific risk factors but positively influenced by prior quarter industry dividend yield and ownership limit identified in the prospectus. After controlling for time trend, the paper finds REIT IPOs incur higher non‐underwriting direct expenses in response to higher industry return volatility prior to the offer.
Originality/value
This paper adds to the international REIT IPO literature by exploring a number of new influencing factors behind total direct costs, underwriting fees and non‐underwriting direct expenses. The study includes data during the recent GFC period.
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Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some…
Abstract
Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.
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This paper proposes a costing framework with the objective of providing reliable, relevant, and timely information about the actual costs and the cost efficiency of planned…
Abstract
This paper proposes a costing framework with the objective of providing reliable, relevant, and timely information about the actual costs and the cost efficiency of planned maintenance jobs. The proposed framework includes direct materials, direct labor, and support services costs. The traceability criterion is used for assigning direct materials and direct labor costs to planned maintenance jobs. However, support services costs are allocated to planned maintenance jobs using the concepts and techniques of activity‐based‐costing (ABC). The proposed framework provides a complete audit trail of planned maintenance costs. It also provides a functionality that could be added to enterprise resource planning (ERP) systems.
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Gordon Wills, Sherril H. Kennedy, John Cheese and Angela Rushton
To achieve a full understanding of the role ofmarketing from plan to profit requires a knowledgeof the basic building blocks. This textbookintroduces the key concepts in the art…
Abstract
To achieve a full understanding of the role of marketing from plan to profit requires a knowledge of the basic building blocks. This textbook introduces the key concepts in the art or science of marketing to practising managers. Understanding your customers and consumers, the 4 Ps (Product, Place, Price and Promotion) provides the basic tools for effective marketing. Deploying your resources and informing your managerial decision making is dealt with in Unit VII introducing marketing intelligence, competition, budgeting and organisational issues. The logical conclusion of this effort is achieving sales and the particular techniques involved are explored in the final section.
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Direct costs of Australian Real Estate Investment Trust (A-REIT) initial public offerings (IPOs) were last reported in the literature using data to 2004. Much has occurred since…
Abstract
Purpose
Direct costs of Australian Real Estate Investment Trust (A-REIT) initial public offerings (IPOs) were last reported in the literature using data to 2004. Much has occurred since then. The purpose of this paper is to introduce and include the A-REIT IPOs over the last ten years and examine the cost and the factors influencing the percentage underwriting and percentage total direct costs by A-REITs IPOs. The study also investigates specifically whether the utilization of an underwriter (who guarantees the success of the capital raising) rather than a stockbroker (who does not guarantee such success) costs significantly more.
Design/methodology/approach
The study examines 87 A-REIT IPOs from January 1994 until December 2013. An OLS regression is performed to identify significant influencing factors on percentage underwriting costs and percentage total direct capital raising costs.
Findings
The study finds that larger capital raisings and those with large investor or institutional involvement identified in the prospectus are significant in reducing underwriting costs. The study does not find that underwritten IPOs are significantly more expensive (or cheaper) than those not underwritten. Additionally, the size of the issue, whether the firm offers stapled securities (is internally managed) and has higher net asset to issue price characteristics reduces the total cost of underwritten IPOs.
Practical implications
The paper provides information to new A-REIT issuers, underwriters and advisors broadly on new issue costs and on factors influencing the IPO issue costs.
Originality/value
The study is the first to examine the costs of A-REIT IPO capital raising data in the years prior to and following the recent global financial crisis period.
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Pedro Reinares Lara and Jose Manuel Ponzoa
The aim of this study is to analyze over time the evolution of associated costs of direct marketing in Spain and offer operational conclusions for the optimization of marketing…
Abstract
Purpose
The aim of this study is to analyze over time the evolution of associated costs of direct marketing in Spain and offer operational conclusions for the optimization of marketing budgets intended for the establishment of contact and/a relationship with the customer.
Design/methodology/approach
This study analyses and compares the relationship between advertising messages sent through direct mail, electronic mail, telemarketing and short cell‐phone messages (SMS), over five years. In the context of a loyalty program, and by means of a historical analysis, an alternating media marketing test is presented: a total of 10,000 contacts per medium studied per year were made.
Findings
The relationship that exists between the cost per contact and the cost per effective response for each one of the above mentioned direct and interactive media.
Practical implications
A series of operational conclusions can be extracted for direct media planning and its marketing budget optimization with regard to choice of medium according to expected response and choice of medium according to cost per response.
Originality/value
The relevance of this work is based on the relative lack of information in Spain over the cost of communications channelled through direct media. Besides, the inclusion of advertising by SMS in this work is particularly relevant due to the fact that the novelty of this media channel means that it has only been analyzed independently by very few existing studies.
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