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Article
Publication date: 26 September 2023

Lunyan Wang, Mengyu Tao, Xiaowei An, Guanghua Dong, Yehui Huang and Haoyu Wang

The operation of water environment treatment Public-Private Partnership projects (WETP-PPP) is crucial to the project effectiveness. However, there are often problems in projects…

Abstract

Purpose

The operation of water environment treatment Public-Private Partnership projects (WETP-PPP) is crucial to the project effectiveness. However, there are often problems in projects that attach importance to construction and neglect operation management, which seriously affect the project operation effect. To ensure the good operation effect of the WETP-PPP, an evolutionary game model of the regulation strategy during the operation period of WETP-PPP is constructed.

Design/methodology/approach

An evolutionary game model of regulation is established which considers the government, the project company and the public in water environment treatment Public-Private Partnership projects (WETP-PPP). Five scenarios of equilibriums and the game's evolutionary stable strategies are analyzed, and the corresponding stability conditions are then obtained. Finally, through the simulation, the influence of different factors on the choice of the three-party strategy is analyzed.

Findings

First, the key factors that affect the evolution game are the regulation costs and performance rewards of the government, the project company's operation costs and penalties for opportunism and the public supervision costs and rewards. Second, in order to ensure the operation effect, the government needs the performance incentive from the superior government. Third, the public's supervision enthusiasm needs to be mobilized by the government. Last, the penalty strength of speculative operation should be strong enough to play a deterrent role.

Research limitations/implications

The theoretical research in this paper has some limitations. Initially, due to the large number of participants in WETP-PPP, in addition to the government department, the project company and the public studied in this paper, it also involves the consulting industry and financial institutions. In the future, more participants can be added to form four-party interest relationships and conduct four-party evolutionary game research. Second, the operation environment of WETP-PPP is complex and changeable, and various influencing factors are intertwined, the number of parameters involved in this paper is limited, and further detailed research is needed in the future.

Practical implications

Based on the evolutionary game theory, this article discusses the evolution law of the tripartite game behavior of the government department, the project company and the public, which is helpful to clarify the strategy evolution path of the tripartite in the WETP-PPP, and the generation condition and evolution mechanism of the equilibrium strategy of the tripartite game. The key parameters affecting the tripartite strategy selection are analyzed through simulation, which can provide reference for the government department to formulate relevant measures. At the same time, it broadens the application field of evolutionary games and supplements the research on the management mechanism of WETP-PPP during the operation period.

Social implications

Based on the evolutionary game theory, this paper introduces the supervision behavior of the public, which can provide a new perspective for researchers to conduct relevant research. Secondly, for the regulation during the operation of WETP-PPP, this paper can provide reference for the government department to establish a scientific public supervision system, improve the government supervision mechanism and other relevant measures, which can help promote the public supervision willingness, improve the regulation efficiency of the government and guide the project company to reduce speculation, so as to ensure the effect of water environment management.

Originality/value

This paper focuses on the regulation of WETP-PPP during the operation period to research interactions among the government, the project company and the public. Based on the analysis of the evolutionary game, some suggestions are put forward, such as perfecting the government regulation mechanism, optimizing the reward and punishment system for the project company and broadening the channels of public supervision. The research results of this paper can provide support for the government's regulation of WETP-PPP and ensure the project operation effect.

Details

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

Keywords

Article
Publication date: 15 September 2023

Hu Dan Semba and Lefei Wu

The Chinese data setting allows researchers to explore the influence of local versus national (central) government ownership on companies. This study aims to examine the influence…

Abstract

Purpose

The Chinese data setting allows researchers to explore the influence of local versus national (central) government ownership on companies. This study aims to examine the influence of government ownership (local versus national) and auditor choice (choosing larger or smaller firms) on audit pricing in China.

Design/methodology/approach

This study executed three panel data regressions to examine the two hypotheses using 19,626 observations from 2009 to 2017 in the Chinese data setting. This study also uses the Sobel test to investigate the moderating effect of auditor choice.

Findings

This study first examines whether choosing a large audit firm positively influences audit pricing and whether listed state-owned enterprises (SOEs) charge less audit fees to audit firms after controlling for various variables. However, the interaction influence of government ownership and audit firm size on audit pricing is positive, suggesting that a large audit firm charges a client company more, even if the client is an SOE. More importantly, when we divide SOEs into national- and local-SOEs, the results of the influence of auditor choice, government ownership and the interaction of government ownership on audit pricing are consistent (plus, minus, plus), and audit firms charge local-SOEs less than national-SOEs. Furthermore, from the additional analysis, this study finds that the strong auditor type has a moderate effect on the case of local-SOEs on audit pricing and local-SOEs choose smaller auditors.

Originality/value

Research on the differences between local and national government ownership is limited. This study adds empirical results from this perspective. In particular, the findings suggest a further audit pricing research direction to consider the influence of client companies’ ownership types and auditor choice, especially in countries with planned economies.

Details

Journal of Financial Reporting and Accounting, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1985-2517

Keywords

Article
Publication date: 25 March 2024

Zhixue Liao, Xinyu Gou, Qiang Wei and Zhibin Xing

Online reviews serve as valuable sources of information, reflecting tourists’ attentions, preferences and sentiments. However, although the existing research has demonstrated that…

Abstract

Purpose

Online reviews serve as valuable sources of information, reflecting tourists’ attentions, preferences and sentiments. However, although the existing research has demonstrated that incorporating online review data can enhance the performance of tourism demand forecasting models, the reliability of online review data and consumers’ decision-making process have not been given adequate attention. To address the aforementioned problem, the purpose of this study is to forecast tourism demand using online review data derived from the analysis of review helpfulness.

Design/methodology/approach

The authors propose a novel “identification-first, forecasting-second” framework. This framework prioritizes the identification of helpful reviews through a comprehensive analysis of review helpfulness, followed by the integration of helpful online review data into the forecasting system. Using the SARIMAX model with helpful online review data sourced from TripAdvisor, this study forecasts tourist arrivals in Hong Kong during the period from August 2012 to June 2019. The SNAÏVE/SARIMA model was used as the benchmark model. Additionally, artificial intelligence models including long short-term memory, back propagation neural network, extreme learning machine and random forest models were used to assess the robustness of the results.

Findings

The results demonstrate that online review data are subject to noise and bias, which can adversely affect the accuracy of predictions when used directly. However, by identifying helpful online reviews beforehand and incorporating them into the forecasting process, a notable enhancement in predictive performance can be realized.

Originality/value

First, to the best of the authors’ knowledge, this study is one of the first to focus on the data issue of online reviews on tourism arrivals forecasting. Second, this study pioneers the integration of the consumer decision-making process into the domain of tourism demand forecasting, marking one of the earliest endeavors in this area. Third, this study makes a novel attempt to identify helpful online reviews based on reviews helpfulness analysis.

Details

Nankai Business Review International, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-8749

Keywords

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