Search results

This study aims to empirically examine the impact of the price structure of two-sided markets on transaction volume and market share (MS) in the context of the Korean credit card industry. The Korean credit card market differs from those in the United States (U.S.) or Europe in terms of transaction structure (i.e. a three-party system in Korea vs a four-party system in the U.S. or Europe) and government policy. In addition to the merchant discount rate and the cardholder annual membership fee rate, the authors included and analyzed exogenous variables to eliminate any endogeneity. Based on the analysis results, the authors found that credit card usage performance (i.e. transaction volume) increases with an increase in the relative price ratio (merchant discount rate ÷ cardholder membership fee rate) paid by merchants and cardholders, provided that the total price (merchant discount rate + cardholder membership fee rate) paid by merchants and cardholders remains constant. Therefore, this study is the first to confirm that the Korean credit card market operated as the theoretical mechanism of a two-sided market during the analysis period. This effect can only be observed in specific cases such as the launch of the so-called “Chief Executive Officer(CEO)-designed card.” When a new CEO takes office in a credit card company and launches a “CEO-designed card,” there is a significant increase in not only card usage performance but MS as well owing to the price structure changes caused by expanding the benefits that customers derive from card use.

Competitive tendering in South Africa is often associated with procurement based on the lowest fee tendered. Previous research on this topic did not provide in-depth examinations of how pricing within consulting engineering companies was affected by competitive tendering nor did it illuminate the extent to which professional services were impacted by competitive tendering. This paper aims to examine the implications of competitive tendering on pricing and delivery of consulting engineering services in South Africa.

A survey research strategy with a questionnaire as the research instrument elicited qualitative data from 28 experienced consulting engineers in South Africa. Thematic analysis was used to analyse qualitative data from the questionnaires.

Three key themes were identified, namely: considerations when determining consulting engineering fees on competitively tendered projects; the impact of reduced fees due to competitive tendering on the delivery of consulting engineering services; and interventions to prevent unsustainably “low” professional fees. Many consulting engineers in South Africa still determine fees using fee scales, while other considerations include resources, project complexity, risk, etc. Most participants asserted that design optimisation/value engineering, training, meetings and construction monitoring were adversely impacted by “low” fees.

This paper provides in-depth qualitative feedback from experienced consulting engineers (most having more than 20 years’ experience) on a topical issue in the South African construction industry. Thematic analysis was a novel method of analysis that was not used previously in this area of study.

This study aims to examine the relationship between auditor industry specialization (IS) and audit fees.

The authors utilize 2,100 firm-year data of Jordanian companies from 2005 to 2018. Two conflicting theoretical approaches of IS were employed: the product differentiation approach, as assessed by market share (MS); and the shared efficiency approach, as evaluated by portfolio share (PS).

Results of the ordinary least squares (OLS) regression support product differentiation (shared efficiency) and show that employing experts' auditors exerts a very substantial and favorable direct impact on audit fees (negative).

This research contributes new empirical data to the auditing literature by examining if IS does influence Jordanian businesses' audit fees. The findings offer useful data for Jordanian officials to examine the auditing industry's difficulties while refining regulations and revising auditor pricing. Additionally, the results offer advice to Jordan's regulatory bodies who oversee the auditing industry. Arguably, results from Jordan may be extrapolated to other Middle Eastern nations.

Due to product diversity, traditional quality signals in the hotel industry such as star ratings and brand affiliation do not work well in the accommodation booking process on the sharing economy platform. From a suppliers’ perspective, this study aims to apply the signaling theory to the booking of Airbnb listings and explore the influence of quality signals on the odds of an Airbnb listing being booked.

A binomial logistic model is used to describe the influences of different attributes on the market demand. Because of the large sample size, sequential Bayesian updating method is utilized in hospitality and tourism field for the first attempt.

Results show that, in addition to host-specific information such as “Superhost” and identity verification, attributes including price, extra charges, region competitiveness and house rules are all effective signals in Airbnb. The signaling impact is more effective for the listings without any review comments.

This study contributes to the literature by incorporating the signaling theory in the analysis of booking probability of Airbnb accommodation. The research findings are valuable to hosts in improving their booking rates and revenue. In addition, government and industrial management organizations can have more efficient strategy and policy planning.

This article reports the results of a randomized field experiment that tested the effects of a new business intervention among managers of small- and medium-sized enterprises (SMEs) in England.

Individual managers (learners) were randomly assigned in clusters (companies) to either an intervention group (265 learners; 40 SMEs) receiving a novel virtual, blended training program designed to stimulate a change in management behavior or a no-intervention group (118 learners; 22 SMEs).

The results show that the primary objective of changing management behavior to use more of an Operational Coaching™ style of management has been achieved (to a statistically significant level), and this is against the backdrop of the devastating COVID-19 pandemic. Positive trends in SME productivity metrics were also observed in the intervention group companies.

These important results could be indicative of the economic and productivity impact that a change in management behavior could have, and they warrant serious further investigation.

Food delivery applications (FDAs) are becoming more and more well-liked across Generations X, Y and Z, with Asia experiencing the biggest growth. These three generations of consumers have distinct views toward using FDAs because they were influenced by various social environments, cultures and experiences. Therefore, marketers ought to present customers with various values. The purpose of this study is to investigate how the theory of consumption values (TCV) affects the intention of various generational cohorts to continued usage intentions.

Online surveys were distributed to 745 Thai customers who had previously ordered meals from FDAs to collect information. The data were analyzed using partial least squares structural equation modeling and multigroup analysis.

Results reveal that there are significant differences among Generations X, Y and Z, while emotional value is insignificant. Generation X is concerned about functional and conditional value, whereas Generation Y expresses the highest concern on epistemic and social value. Meanwhile, Generation Z pays attention to epistemic, functional and social value.

The novelty of this study contributes to TCV affecting the different FDAs consumption value among Generations X, Y and Z, while the previous research only focused on gender and age difference, and this study firstly combines FDAs with TCV to predict the consumers’ intention to continuously use FDAs in the post-COVID-19 outbreak.

This paper aims to explain the fundraising and valuation processes of startups and discuss the conflicts of interest between entrepreneurs, venture capital (VC) firms and stakeholders in the context of startup corporate governance. Further, this paper uses the examples of WeWork and Zenefits to explain how a failure of stakeholders to demand an external audit from an independent accounting firm in early stages of funding led to an opportunity for fraud.

The methodology used is a literature review and analysis of startup valuation combined with the Fraud Triangle Theory. This paper also provides a discussion of WeWork and Zenefits, both highly visible examples of startup fraud, and explores an increased role for independent external auditors in fraud risk mitigation on behalf of stakeholders prior to an initial public offering (IPO).

This paper documents a number of fraud risks posed by the “fake it till you make it” ethos and investor behavior and pricing in the world of entrepreneurial finance and VC, which could be mitigated by a greater awareness of startup stakeholders of the value of an external audit performed by an independent accounting firm prior to an IPO.

An implication of this paper is that regulators should consider greater oversight of the startup financing process and potentially take steps to facilitate greater independence of participants in the IPO process.

Given the potential conflicts of interest between VC firms, investment banks and startup founders, the investors at the time of an IPO may be exposed to the risk that the shares of the IPO firms are overvalued at offering.

This study demonstrates how startup practices can be extended to the Fraud Triangle and issue a call to action for the accounting profession to take a greater role in protecting the public from startup fraud. This study then offers recommendations for regulators and standards entities.

There are few academic papers in the financial crime literature that link the valuation and culture of startup firms with fraud risk. This study provides a concise explanation of the process of valuation for startups and highlights the considerations for stakeholders in assessing fraud risk. In addition, this study documents an emerging role for auditors as stewards of proper valuation for pre-IPO firms.

The growth of the internet has transformed digital infrastructure in Thailand over the past two decades, with the widespread use of e-commerce, digital money and online services becoming a daily norm for all ages. The COVID-19 restrictions, which limited in-person business operations, boosted demand for takeout and delivery services and fueled the expected steady growth of the online food delivery market in Thailand. The pandemic also resulted in a shift towards online ordering and delivery, reflecting changes in customer behavior. This study focuses on exploring the factors that have driven Bangkokians to use online food delivery services after the COVID-19 restrictions were lifted in June 2022.

Data were collected from 398 participants who had ordered food delivery services after the announcement.

The findings showed that perceived usefulness, time saving benefit and price saving benefit have a significant impact on the intention of customers to use online food delivery services, while food safety risk perception had no effect.

Bangkokians favor online food delivery services due to convenience and time-saving, indicating high demand post-pandemic. Businesses should invest in improving their platforms to meet evolving consumer behavior.

The result of this study offers valuable insights into the attitudes and behaviors of Bangkokians towards online food delivery services and could be beneficial for businesses in the industry to improve their services, enhance customer satisfaction as well as increase their competitiveness.