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Article
Publication date: 3 January 2024

Kirti Sood, Prachi Pathak and Sanjay Gupta

Investment decisions hold immense significance for investors and eventually affect their portfolio performance. Investors are advised to weigh the costs and benefits associated…

Abstract

Purpose

Investment decisions hold immense significance for investors and eventually affect their portfolio performance. Investors are advised to weigh the costs and benefits associated with every decision in order to make rational investment decisions. However, behavioral finance research reveals that investors' choices often stem from a blend of economic, psychological and sociological factors, leading to irrationality. Moreover, environmental, social and corporate governance (ESG) factors, aligned with behavioral finance hypotheses, also sway opinions and stock prices. Hence, this study aims to identify how individual equity investors prioritize key determinants of investment decisions in the Indian stock market.

Design/methodology/approach

The current research gathered data from 391 individual equity investors through a structured questionnaire. Thereafter, a fuzzy analytic hierarchy process (F-AHP) was used to meet the purpose of the research.

Findings

Information availability, representative heuristics belonging to psychological factors and macroeconomic indicators falling under economic factors were discovered to be the three most prioritized criteria, whereas environmental issues within the realm of ESG factors, recommendations of brokers or investment consultants of sociological factors, and social issues belonging to ESG factors were found to be the least prioritized criteria, respectively.

Research limitations/implications

Only active and experienced individual equity investors were surveyed in this study. Furthermore, with a sample size of 391 participants, the study was confined to individual equity investors in one nation, India.

Practical implications

This research has implications for individual investors, institutional investors, market regulators, corporations, financial advisors, portfolio managers, policymakers and society as a whole.

Originality/value

To the best of the authors' knowledge, no real attempt has been made to comprehend how active and experienced individual investors prioritize critical determinants of investment decisions by taking economic, psychological, sociological and ESG factors collectively under consideration.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 9 February 2024

Runze Yu and Li Ma

The paper covers mega infrastructure construction supply chain (MICSC) in Engineering-Procurement-Construction (EPC) projects, where the frequent occurrence of risk incidents has…

138

Abstract

Purpose

The paper covers mega infrastructure construction supply chain (MICSC) in Engineering-Procurement-Construction (EPC) projects, where the frequent occurrence of risk incidents has greatly affected human life. The research aims to establish a risk evaluation index system for MICSC in EPC projects, exploring what risk factors lead to risk incidents and measure the importance and causality of all these risk factors.

Design/methodology/approach

The research applies a combination of quantitative and qualitative analysis methodology to process data sequentially. In the first place, risk factors for MICSC in EPC projects are extracted and identified from literature survey and expert interviews. In the second place, an integration model fuzzy Analytic Hierarchy Process (f-AHP) and fuzzy Decision-making Trial and Evaluation Laboratory (f-DEMATEL) is constructed to comprehensively analyze all these risk factors.

Findings

12 primary risk factors and 36 secondary risk factors comprise the risk evaluation index system for MICSC in EPC projects from 178 literature and 5 professionals. The results indicate that Political Situation (F1), Social Security (F2) and Management Mode (F8) are critical risk factors, where F1 and F2 are cause factors and F8 is an effect factor.

Originality/value

There are three main contributions of this paper. First and foremost, from the perspective of the research content, no other study has been able to assess risk factors for MICSC in EPC projects, while embedding nine phases of the whole project life cycle and six subjects of stakeholders into a risk evaluation index system. Additionally, from the perspective of research method, a combined model incorporating f-AHP and f-DEMATEL is constructed to avoid the one-sidedness of a single model. Last but not least, from the perspective of practical significance, focusing on the critical risk factors, a series of effective measures are formulated to make appropriate management decisions for nodal enterprises of MICSC, which can improve their risk management capabilities.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 6 February 2024

Bighnesh Dash Mohapatra, Chandan Kumar Sahoo and Avinash Chopra

The purpose of this study is to explore and prioritize the factors that determine the social insurance contribution of unorganized workers.

Abstract

Purpose

The purpose of this study is to explore and prioritize the factors that determine the social insurance contribution of unorganized workers.

Design/methodology/approach

A two-stage procedure was adopted to recognize and prioritize factors influencing the social insurance participation of unorganized workers: first, crucial factors influencing unorganized workers’ contribution towards social insurance were identified by employing exploratory factor analysis, and in the second phase, the fuzzy analytical hierarchal process was applied to rank the specified criteria and then sub-criteria by assigning weights.

Findings

Four broad factors were identified, namely, economic, political, operational and socio-psychological, that significantly influence unorganized workers’ contribution towards social insurance. Later findings revealed that the prime influencer of unorganized workers’ contribution is employment contracts followed by average earnings, delivery of quality services, eligibility and accessibility.

Practical implications

The research findings are feasible as the basic propositions are based on real-world scenario. The identification and ranking of factors have the potential to be used as a checklist for policymakers when designing pension and social insurance for unorganized workers. If it is not possible to consider all, the criteria and sub-criteria assigned upper rank can be given priority to extend pension coverage for a large group of working poor.

Social implications

The key factors driving social insurance contributions have been highlighted by studying the stakeholders’ perceptions at a micro level. By comprehending the challenges, there is a possibility of covering a large section of the working poor into social insurance coverage.

Originality/value

This paper is believed to be one of its kinds to acknowledge a combination of factors that determine the contribution of unorganized workers to social insurance. This study is an empirical investigation to prioritize the essential drivers of social insurance participation by low-income cohorts in the context of emerging countries. The present approach of employing fuzzy logic has also very limited use in social insurance literature yet.

Details

Benchmarking: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-5771

Keywords

Article
Publication date: 14 December 2023

Miguel Angel Ortíz-Barrios, Stephany Lucia Madrid-Sierra, Antonella Petrillo and Luis E. Quezada

Food manufacturing supply chain systems are the most relevant wheels of the world economy since they provide essential products supporting daily life. Nevertheless, various supply…

Abstract

Purpose

Food manufacturing supply chain systems are the most relevant wheels of the world economy since they provide essential products supporting daily life. Nevertheless, various supply inefficiencies have been reported to compromise food safety in different regions. Sustainable supplier management and digitalization practices have become cornerstone activities in addressing these shortcomings. Therefore, this paper proposes an integrated method for sustainability management in digital manufacturing supply chain systems (DMSCS) from the food industry.

Design/methodology/approach

The Intuitionistic Fuzzy Analytic Hierarchy Process (IF-AHP) was used to weigh the criteria and subcriteria under uncertainty. Second, the Intuitionistic Fuzzy Decision-Making Trial and Evaluation Laboratory (IF-DEMATEL) was applied to determine the main DMSCS sustainability drivers whilst incorporating the expert's hesitancy. Finally, the Combined Compromise Solution (CoCoSo) was implemented to pinpoint the weaknesses hindering DMSCS sustainability. A case study from the pork supply chain was presented to validate this method.

Findings

The most important criterion for DMSCS sustainability management is “location” while “manufacturing capacity” is the most significant dispatcher.

Originality/value

This paper presents a novel approach integrating IF-AHP, IF-DEMATEL, and CoCoSo methods for sustainability management of DMSCS pillaring the food industry.

Details

Journal of Enterprise Information Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1741-0398

Keywords

Article
Publication date: 26 January 2024

Mohsen Rajabzadeh, Seyed Meysam Mousavi and Farzad Azimi

This paper investigates a problem in a reverse logistics (RLs) network to decide whether to dispose of unsold goods in primary stores or re-commercialize them in outlet centers…

Abstract

Purpose

This paper investigates a problem in a reverse logistics (RLs) network to decide whether to dispose of unsold goods in primary stores or re-commercialize them in outlet centers. By deducting the costs associated with each policy from its revenue, this study aims to maximize the profit from managing unsold goods.

Design/methodology/approach

A new mixed-integer linear programming model has been developed to address the problem, which considers the selling prices of products in primary and secondary stores and the costs of transportation, cross-docking and returning unwanted items. As a result of uncertain nature of the cost and time parameters, gray numbers are used to deal with it. In addition, an innovative uncertain solution approach for gray programming problems is presented that considers objective function satisfaction level as an indicator of optimism.

Findings

According to the results, higher costs, including transportation, cross-docking and return costs, make sending goods to outlet centers unprofitable and more goods are disposed of in primary stores. Prices in primary and secondary stores heavily influence the number of discarded goods. Higher prices in primary stores result in more disposed of goods, while higher prices in secondary stores result in fewer. As a result of the proposed method, the objective function satisfaction level can be viewed as a measure of optimism.

Originality/value

An integral contribution of this study is developing a new mixed-integer linear programming model for selecting the appropriate goods for re-commercialization and choosing the best outlet center based on the products' price and total profit. Another novelty of the proposed model is considering the matching percentage of boxes with secondary stores’ desired product lists and the probability of returning goods due to non-compliance with delivery dates. Moreover, a new uncertain solution approach is developed to solve mathematical programming problems with gray parameters.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

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