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Book part
Publication date: 16 January 2014

Tomoki Kitamura and Munenori Nakasato

Previous studies showed mixed results as to the cause of myopic loss aversion (MLA). This paper reexamines the main driver of MLA, considering two factors from previous…

Abstract

Purpose

Previous studies showed mixed results as to the cause of myopic loss aversion (MLA). This paper reexamines the main driver of MLA, considering two factors from previous studies and an additional factor.

Design/methodology/approach

Experimentally investigate whether flexibility of investment, frequency of information feedback, or timing of decision cause MLA.

Findings

Timing of decision and flexibility of investment explain most differences in subject behavior. Frequency of information feedback makes only a marginal contribution.

Originality/value of the paper

The differences in subject behavior can be interpreted by a shift in their reference points depending on the difference in flexibility of investment, frequency of information feedback, or timing of decision.

Details

Experiments in Financial Economics
Type: Book
ISBN: 978-1-78350-141-0

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Article
Publication date: 9 July 2020

Ehsan Poursoleiman, Gholamreza Mansourfar and Sazali Abidin

This paper aims to investigate the impact of debt maturity on the relationship between financial leverage and future financing constraints. Moreover, it attempts to…

Abstract

Purpose

This paper aims to investigate the impact of debt maturity on the relationship between financial leverage and future financing constraints. Moreover, it attempts to analyze the moderating role of short-term debt and the mediating role of future financing constraints in the relationship between financial leverage and future investment.

Design/methodology/approach

To test the moderating role of debt maturity, all the observations are divided into two groups based on short-term debt to total debt ratio. Moreover, Sobel, Aroian and Goodman tests are used to analyze the mediating role of future financing constraints. The sample used in this research includes firms listed on the Tehran Stock Exchange from 2006 to 2018.

Findings

It is shown that financial leverage is inversely (positively) related to future financing constraints for firms with higher (lower) use of short-term debt and, short-term debt moderates the relation between financial leverage and future investment. The findings also indicate that future financing constraints carry the influence of financial leverage to future investment.

Originality/value

In an imperfect market where financing is not independent of investment, it is highly required to carry out some studies on the role of different financing scenarios in firms and their impacts on future financing and investment; therefore, this paper is conducted to address one of the most important issues in the capital market, which is almost the pioneer study in this field.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 13 no. 4
Type: Research Article
ISSN: 1753-8394

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Article
Publication date: 21 September 2020

Sonia Ouachani, Olfa Belhassine and Aïda Kammoun

The purpose of this paper is to review the main methods used in the literature to measure financial literacy (FL) of individuals.

Abstract

Purpose

The purpose of this paper is to review the main methods used in the literature to measure financial literacy (FL) of individuals.

Design/methodology/approach

The paper begins by describing how the different items used to measure the FL level of individuals are constructed. Then, it focuses on how do researchers select the items. Finally, it reviews the different calculation methods used in the literature to assess the FL level.

Findings

FL as a concept is tough to define and measure. Several studies focus on the definition and the measure of this concept. Different items are used in the literature and are mostly related to the study topics. The used calculation methods differ across the different studies.

Originality/value

This paper sheds light on the principal methodologies used in the literature to measure FL. It highlights the relationship between the items' content areas and the studies' subjects. Thus, this paper suggests guidance for future studies on measuring methods of FL.

Details

Managerial Finance, vol. 47 no. 2
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 24 April 2020

Ganesan R and Sowmya B

Heterogeneous network is mainly focused to enrich the demands of network's traffic and data rate. Heterogeneous network is an integrated system composed of diverse radio…

Abstract

Purpose

Heterogeneous network is mainly focused to enrich the demands of network's traffic and data rate. Heterogeneous network is an integrated system composed of diverse radio access technologies such as Wi-Fi, UMTS and WiMAX soon. To exchange the packets among these different wireless technologies, an adoptable vertical handoff (VHO) is required.

Design/methodology/approach

Various types of techniques have been proposed in line with VHO. However these algorithms lead to the threat of high dropping rate and poor Quality of Service (QoS). We modulate a new methodology by integrating Convolutional Neural Network with Fuzzy Logic (CNN-FL) for an optimum vertical handoff decision process (VHDP). The CNN-FL–based VHDP is very effective because of nonlinearity and generalization capability with uncertain data inputs.

Findings

The performance results exhibit that proposed methods show efficient for selecting the appropriate network with maximum throughput. At the same time, the proposed method reduces computational complexity and dropping rate considerably.

Originality/value

This paper proposes a novel CNN model along with a FL model for achieving a vertical hand off.

Details

International Journal of Intelligent Unmanned Systems, vol. 8 no. 4
Type: Research Article
ISSN: 2049-6427

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Article
Publication date: 5 December 2016

Olga Vybornova and Jean-Luc Gala

The purpose of this paper is to analyze the decision-making process and provide a decision support framework for deployment of an on-site analytical capacity (a fieldable…

Abstract

Purpose

The purpose of this paper is to analyze the decision-making process and provide a decision support framework for deployment of an on-site analytical capacity (a fieldable laboratory (FL)) to contain an expanding outbreak and protect public health.

Design/methodology/approach

The FL mission cycle consists of five successive interlinked phases with a set of operational functions (OFs) performed during the mission. The list of phases, OFs and their contents were iteratively developed during and after FL missions and validated with operational partners.

Findings

The well-defined structure of the FL domain appears as the best functional basis for tracking the decision-making process across the whole mission cycle. Description of all the FL elements and information flows addresses the major issue of interoperability of resources used by similar international capacities (inter-)acting as operational partners in global response to the crisis.

Originality/value

The work presents the first attempt in this field to systematically describe and chronologically organize the decisions taken by a FL manager and staff during all phases of the FL mission cycle. Definition of OFs with all the related information flows allows for comparison of procedures, their better planning and refining, validation of protocols, mutual training and operational improvement between FLs from different geographical, organizational and cultural origins.

Details

Journal of Humanitarian Logistics and Supply Chain Management, vol. 6 no. 3
Type: Research Article
ISSN: 2042-6747

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Article
Publication date: 1 July 2005

Kamran Ahmed, A. John Goodwin and Kim R. Sawyer

This study examines the value relevance of recognised and disclosed revaluations of land and buildings for a large sample of Australian firms from 1993 through 1997. In…

Abstract

This study examines the value relevance of recognised and disclosed revaluations of land and buildings for a large sample of Australian firms from 1993 through 1997. In contrast to prior research, we control for risk and cyclical effects and find no difference between recognised and disclosed revaluations, using yearly‐cross‐sectional and pooled regressions and using both market and non‐market dependent variables. We also find only weak evidence that revaluations of recognised and disclosed land and buildings are value relevant.

Details

Pacific Accounting Review, vol. 17 no. 2
Type: Research Article
ISSN: 0114-0582

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Article
Publication date: 1 December 2007

Jessica Lamond, David Proverbs and Adarkwah Antwi

The supposition that the availability and cost of insurance will have an effect on house prices is often accepted as fact. However the mechanism for this supposed impact…

Abstract

The supposition that the availability and cost of insurance will have an effect on house prices is often accepted as fact. However the mechanism for this supposed impact has not been clearly articulated and the hypothesis is far from proven in the UK market. Measurement of the effect of insurance is complicated by the fact that the parties are acting in the presence of incomplete information and that insurance costs can act as a proxy for other value drivers such as flood risk. Models useful in other countries cannot be applied sensibly to the UK market because of the unique properties of the UK insurance regime. Novel hypotheses are suggested for the three principal ways in which the availability and cost of insurance might influence the prospective property transfer. A method for testing one of these hypotheses is proposed using a quasi‐experimental approach with the aim of determining whether a relationship between insurance cost and house price does indeed exist.

Details

Journal of Financial Management of Property and Construction, vol. 12 no. 3
Type: Research Article
ISSN: 1366-4387

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Article
Publication date: 1 June 1996

Jonathan I. Rees and Christopher J. Rees

Highlights the fact that foreign language (FL) training is a problematic area for many companies. Outlines five approaches to FL training that can be adopted by…

Abstract

Highlights the fact that foreign language (FL) training is a problematic area for many companies. Outlines five approaches to FL training that can be adopted by organizations, ranging from the “language for all” approach to a highly selective approach based on job analysis and individual assessment. Points out that these approaches can be realized in part or whole by two very different implementation strategies.

Details

Industrial and Commercial Training, vol. 28 no. 3
Type: Research Article
ISSN: 0019-7858

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Book part
Publication date: 23 April 2005

S. Hoti and Michael McAleer

Abstract

Details

Modelling the Riskiness in Country Risk Ratings
Type: Book
ISBN: 978-0-44451-837-8

Content available
Article
Publication date: 11 May 2020

Zhizhao Zhang, Tianzhi Yang and Yuan Liu

The purpose of this work is to bridge FL and blockchain technology through designing a blockchain-based smart agent system architecture and applying in FL. and blockchain…

Abstract

Purpose

The purpose of this work is to bridge FL and blockchain technology through designing a blockchain-based smart agent system architecture and applying in FL. and blockchain technology through designing a blockchain-based smart agent system architecture and applying in FL. FL is an emerging collaborative machine learning technique that trains a model across multiple devices or servers holding private data samples without exchanging their data. The locally trained results are aggregated by a centralized server in a privacy-preserving way. However, there is an assumption where the centralized server is trustworthy, which is impractical. Fortunately, blockchain technology has opened a new era of data exchange among trustless strangers because of its decentralized architecture and cryptography-supported techniques.

Design/methodology/approach

In this study, the author proposes a novel design of a smart agent inspired by the smart contract concept. Specifically, based on the proposed smart agent, a fully decentralized, privacy-preserving and fair deep learning blockchain-FL framework is designed, where the agent network is consistent with the blockchain network and each smart agent is a participant in the FL task. During the whole training process, both the data and the model are not at the risk of leakage.

Findings

A demonstration of the proposed architecture is designed to train a neural network. Finally, the implementation of the proposed architecture is conducted in the Ethereum development, showing the effectiveness and applicability of the design.

Originality/value

The author aims to investigate the feasibility and practicality of linking the three areas together, namely, multi-agent system, FL and blockchain. A blockchain-FL framework, which is based on a smart agent system, has been proposed. The author has made several contributions to the state-of-the-art. First of all, a concrete design of a smart agent model is proposed, inspired by the smart contract concept in blockchain. The smart agent is autonomous and is able to disseminate, verify the information and execute the supported protocols. Based on the proposed smart agent model, a new architecture composed by these agents is formed, which is a blockchain network. Then, a fully decentralized, privacy-preserving and smart agent blockchain-FL framework has been proposed, where a smart agent acts as both a peer in a blockchain network and a participant in a FL task at the same time. Finally, a demonstration to train an artificial neural network is implemented to prove the effectiveness of the proposed framework.

Details

International Journal of Crowd Science, vol. 4 no. 2
Type: Research Article
ISSN: 2398-7294

Keywords

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