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1 – 10 of over 8000Analyses the influence of value judgements in the mechanics oftesting econometric theories against empirical data. The orthodox viewof mainstream, positive economics is that value…
Abstract
Analyses the influence of value judgements in the mechanics of testing econometric theories against empirical data. The orthodox view of mainstream, positive economics is that value judgements play no part in the above process. Contests this view; defines value judgements and shows the orthodox conception to be too narrow, compared with the meaning and use of the term in other disciplines. Reviews many published examples from the 1970s and 1980s and ways in which value judgements have affected testing procedures in economics. Hypothesis testing via econometric techniques is fraught with value judgements because the application of statistical methodology is not a determinate, neutral or objective process.
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Sonia Sadeghian Esfahani, Stephen Cahoon, Shu-Ling Chen, Hilary Pateman and Seyed Mojtaba Sajadi
This paper aims to examine 12 factors influencing environmental activity adoption by Australian logistics companies.
Abstract
Purpose
This paper aims to examine 12 factors influencing environmental activity adoption by Australian logistics companies.
Design/methodology/approach
After a literature review and collect the major factors influencing environmental activity adoption, exploratory factor analysis (EFA) and Friedman test are used to cluster and prioritize these factors through a Web survey.
Findings
The results of EFA show that these factors belong to three main groups including social and economic, pressure and governmental factors. The results of a Friedman test prioritizes 12 factors to find which factors have the greatest importance toward the adoption of environmental activity by managers of Australian logistics companies and reveals that governmental regulation, fuel and energy prices and the potential for achieving a competitive advantage, had the first to third ranking, respectively. Some new influencing factors in implementing environmental activities are found such as the willingness to be the market leader, responsibility and risk mitigation.
Research limitations/implications
This paper contributes to the literature by exploring the new factors influencing environmental adoption.
Practical implications
Australian logistics managers can use the results of this paper in developing their strategies and public policymakers can also use these results to improve sustainable development.
Originality/value
This is the first paper that clusters and prioritizes factors influencing environmental adoption in the Australian logistics industry.
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Charles G. Leathers, J. Patrick Raines and Heather R. Richardson-Bono
The role of debt in episodes of financial stability is a topic of increasing important as the global economy struggles to recover from the worst crisis since the Great Depression…
Abstract
Purpose
The role of debt in episodes of financial stability is a topic of increasing important as the global economy struggles to recover from the worst crisis since the Great Depression of the 1930s. The purpose of this paper is to examine the mortgage finance booms of the 1920s and 2000s as natural experiments, new insights into debt-driven financial crises are gained.
Design/methodology/approach
The general methodology is interpreting anomalous historical events as natural experiments. The specific methodology is the approach to natural experiments provided by Joseph A. Schumpeter and Milton Friedman. The hypothesis tested is that laxity in lending standards was the prime contributor to the mortgage debt booms. In each case, we explain why factors other than laxity in lending standards would be secondary factors, with the pre-boom and post-boom lending standards providing the control groups of natural experiments. The two episodes of mortgage debt booms occurring under very different general economic and financial conditions provide an especially strong test of the hypothesized functional relationship.
Findings
The results of the two natural experiments support the hypothesis that lax lending standards were the prime contributors to the two episodes of debt-driven financial crisis.
Originality/value
From a social economics perspective, the insights gained are important because a major social goal has been to encourage greater opportunities for home ownership. The results of these natural experiments provide guidance for policymakers in the search for a viable balance between achieving that social goal and maintaining financial stability.
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Ozan Okudan, Cenk Budayan and Irem Dikmen
The purpose of this paper is to develop a new conceptual life cycle performance measurement system (PMS) based on stage level key performance indicators (KPIs) to measure the…
Abstract
Purpose
The purpose of this paper is to develop a new conceptual life cycle performance measurement system (PMS) based on stage level key performance indicators (KPIs) to measure the performance of build–operate–transfer (BOT) projects.
Design/methodology/approach
This study uses a literature review to reveal the deficiencies of existing PMSs for public–private partnership (PPP) projects. Based on these deficiencies, four recommendations were proposed for developing a PMS. The validation of these recommendations was performed via focus group discussion sessions conducted with 12 experts. Then, a conceptual framework was developed based on the validated recommendations and the additional recommendations emerged during focus group discussions. Finally, the recommendations proposed by the focus group were tested by a questionnaire survey, the findings of the Friedman test and descriptive analysis validated these recommendations.
Findings
Findings of the focus group discussion, Friedman test and descriptive analysis indicated that the PMS should have four crucial features to develop an efficient, effective and comprehensible PMS for the BOT project. Firstly, non-financial and financial KPIs should be integrated. Secondly, the PMS should be developed as a process-based system with stage level KPIs. The performance of the BOT projects should be monitored and reviewed continuously, however the most important KPIs should be used for continuous performance measurement to increase the applicability of the system and allocate the resources more efficiently.
Research limitations/implications
This survey was conducted on experts who have experience with BOT projects located in Turkey, therefore, judgments of experts might be affected by external factors specific to Turkey such as geopolitical situations, investment environment. However, due to the nature of BOT projects, the experience of experts can also be utilized at the international level.
Originality/value
This is the first time a PMS has been developed to measure the performance of a BOT project. In addition, this system has unique features when compared with the PMS proposed in the literature. Especially, the stage level KPIs and continuous performance measurement with the most important KPIs throughout each stage has never been used. This research provides both public sector and private entities with an insight into effectively measure, control and manage their BOT infrastructure projects' performances throughout their life cycles.
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The purpose of this paper is statistical analysis for the democracy index data of 167 countries for the period 2006 to 2012 to investigate whether democracy index is progressing…
Abstract
Purpose
The purpose of this paper is statistical analysis for the democracy index data of 167 countries for the period 2006 to 2012 to investigate whether democracy index is progressing day by day? Does democracy make any significant improvement in public life and public trust in political institutions? What are the implications for future progress of democracy? Democracy index is a measure of democratic performance introduced by the Economist Intelligence Unit (EIU). The EIU calculated democracy index since 2006 for 167 countries covering almost the entire population of the world.
Design/methodology/approach
As democracy index varies from country to country and over time, the author considers randomized complete bock design for the analysis of variance to test whether there are significant variations among the countries and between time (years). The author also applied Friedman’s test, which is a non-parametric distribution-free test.
Findings
It was found that democracy did not make any significant progress in the study period. Popular confidence in political institutions continues to decline in many full democratic countries. Violence and drug-trafficking have a negative impact on democracy in some countries. Some countries had democratic progress, while some other countries had regression. However, these changes in democratic performances are not statistically significant. As a result, democracy becomes stagnant all over the world.
Research limitations/implications
The analysis is based on only five years of available data.
Practical implications
As democracy becomes stagnant all over the world and the public trust on political institutions and politicians is declining, it is essential to find out the root cause.
Social implications
Democracy is a popular alternative to hybrid or authoritarian regimes, but the nations’ recent democratic transitions had brought no improvements to their lives in the society. God has created us in this world with the rest of creation for a very good reason which was explained in all main religious books. To increase our honesty, character, trust and understanding for becoming a good human, we should follow the divine rules and guidance. Eventually everything will work properly, including democracy.
Originality/value
The author analyzed democracy index data produced by the EIU using statistical techniques, analysis of variance and non-parametric Friedman’s test. Statistical analysis, discussion and conclusion are the author ' s contribution.
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Asmita Chitnis and Omkarprasad S Vaidya
The purpose of this paper is to present a tie-breaking procedure for computing performance efficiencies to improve benchmarking and performance evaluation process in a business…
Abstract
Purpose
The purpose of this paper is to present a tie-breaking procedure for computing performance efficiencies to improve benchmarking and performance evaluation process in a business situation.
Design/methodology/approach
The authors propose a unified approach based on data envelopment analysis (DEA) and technique for order of preference by similarity to ideal solution (TOPSIS), to overcome the difficulty of unique ranking in the prevalent benchmarking and performance evaluation processes such as DEA, Super efficiency DEA model, etc., under constant return to scale (CRS) assumption. This model is called as efficiency ranking method using DEA and TOPSIS (ERM-DT). In order to check the consistency of the approach, various input-output combinations (to calculate the efficiencies) have been illustrated. Further, the authors present a case of an Indian Bank to illustrate an application of the proposed approach.
Findings
The proposed approach, ERM-DT enables assign a unique rank to decision making units and provides a tie breaking procedure. Results obtained using the proposed approach are statistically compared with those obtained from the CRS DEA approach and super efficiency DEA approach using Friedman’s test.
Practical implications
The proposed model provides an efficiency ranking method based on a score obtained by considering the minimum distance from the best value and maximum distance from the worst value. The proposed methodology is capable of handling negative data and undesirable output variables. This approach is unit invariant and makes the calculations simple. The authors present an application to compute the efficiency of various branches of an Indian bank. The authors hope the proposed method can enhance the decision-making ability of the management in complex situations.
Originality/value
The authors propose an integrated DEA and TOPSIS framework for better benchmarking and performance evaluation. This approach provides a tie-breaking procedure for the efficiencies computed using CRS DEA approach. Ranks are assigned based on score obtained by considering the distance from the worst and the best solution. The proposed approach can be used with non-positive data points and undesirable output variables.
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The purpose of this paper is to describe a conceptualization and two‐stage pilot study that explores ways in which fuzzy sets can be used to measure the indexability of literary…
Abstract
Purpose
The purpose of this paper is to describe a conceptualization and two‐stage pilot study that explores ways in which fuzzy sets can be used to measure the indexability of literary texts.
Design/methodology/approach
Participants provided a subject description for each in a series of literary and nonliterary texts. Each participant was also randomly assigned to one of three tasks: using a visual analog scale to rate the clarity of each text, using a visual analog scale to rate the confidence each participant felt in describing the subject of each text, or sorting the texts from most to least clear without the use of a visual analog scale. Nonparametric statistics and qualitative analysis were used to analyze the data.
Findings
Participants and coders used the visual analog scales successfully. The participants perceived literary texts as less clear than nonliterary texts, and expressed less confidence in their subject description of literary texts than in their descriptions of literary texts. The study found preliminary support for the idea that fuzzy sets can provide a useful theoretical basis for examining the indexability of texts.
Originality/value
A measure of the indexability of literary texts could help provide sound theoretical guidance for construction of tools to organize those texts. A structured comparison of literary and nonliterary texts could help to build a theoretical base from which to make practical decisions about whether and how to perform subject analysis on each type of text.
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Amarachukwu Nnadozie Nwadike and Suzanne Wilkinson
The New Zealand building code has played a vital role in reducing the impact of disasters in the built environment. Following the nature of earthquake occurrences, the associated…
Abstract
Purpose
The New Zealand building code has played a vital role in reducing the impact of disasters in the built environment. Following the nature of earthquake occurrences, the associated impacts such as building collapse and the increase in technological innovation in the building sector, the New Zealand building code has been frequently amended. The building code amendment ensures that buildings and other related infrastructures can withstand the impact of ground shaking without substantial damages to buildings. The purpose of this paper is to identify and explore the benefits of building code amendments in New Zealand.
Design/methodology/approach
Document analysis and closed-ended questionnaire were adopted as data collection instruments for this study. The relevant stakeholders comprise structural engineer, geotechnical engineer, architect, building services consulting engineer, licensed building practitioner, project manager, building contractor, local authority, academic/researcher and quantity surveyor.
Findings
A significant proportion of the survey participants that agreed to the importance of building code amendments in New Zealand justify the benefits of the amendments. The study serves as a useful guide to policy regulators and researchers who are exploring other aspects of regular building code amendments in New Zealand. The findings from this study suggest that amending the New Zealand building code needs a proactive approach to promote local technology, enhance low-cost construction materials, training of code users and reducing bureaucracy in design approval and construction inspection. The study concludes that improving on the 28 factors identified in this study would contribute intensively to disaster risk reduction in the built environment and an increase in compliance level in New Zealand.
Originality/value
This paper originality comes from its practical approach towards identifying the benefits of building code amendments
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Raka Saxena, Anjani Kumar, Ritambhara Singh, Ranjit Kumar Paul, M.S. Raman, Rohit Kumar, Mohd Arshad Khan and Priyanka Agarwal
The present study provides evidence on export advantages of horticultural commodities based on competitiveness, trade balance and seasonality dimensions.
Abstract
Purpose
The present study provides evidence on export advantages of horticultural commodities based on competitiveness, trade balance and seasonality dimensions.
Design/methodology/approach
The study delineated horticultural commodities in terms of comparative advantage, examined temporal shifts in export advantages (mapping) and estimated seasonality. Product mapping was carried out using the Revealed Symmetric Comparative Advantage (RSCA) and Trade Balance Index (TBI). Seasonal advantages were examined through a graphical approach along with the objective tests, namely, modified QS-test (QS), Friedman-test (FT) and using a seasonal dummy.
Findings
Cucumbers/gherkins, onions, preserved vegetables, fresh grapes, shelled cashew nuts, guavas, mangoes, and spices emerged as the most favorable horticultural products. India has a strong seasonal advantage in dried onions, cucumber/gherkins, shelled cashew nut, dried capsicum, coriander, cumin, and turmeric. The untapped potential in horticulture can be addressed by handling the trade barriers effectively, particularly the sanitary and phytosanitary issues, affecting the exports. Proper policies must be enacted to facilitate the investment in advanced agricultural technologies and logistics to ensure the desired quality and cost effectiveness.
Research limitations/implications
Commodity-specific studies on value chain analysis would provide valuable insights into the issues hindering exports and realizing the untapped export potential.
Originality/value
There is no holistic and recent study illustrating the horticulture export advantages covering a large number of commodities in the Indian context. The study would be helpful to the stakeholders for drawing useful policy implications.
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