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Article
Publication date: 12 November 2020

The effectiveness of passive land value capture mechanisms in funding infrastructure

Chyi Lin Lee and Martin Locke

This study examines the effectiveness of passive value capture mechanisms as an effective form of mechanisms in funding infrastructure from an Australian perspective. The…

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Abstract

Purpose

This study examines the effectiveness of passive value capture mechanisms as an effective form of mechanisms in funding infrastructure from an Australian perspective. The lukewarm response of active value capture mechanisms such as betterment levies in Australia is also discussed.

Design/methodology/approach

A case study of the Sydney Metro City and Southwest (SMCSW) project in Sydney is used to illustrate passive value capture mechanisms.

Findings

Unlike many developed countries, passive value capture mechanisms have been adopted in Australia. This approach is an effective form of value capture mechanisms to capture the value uplift to offset the total development cost of the SMCSW project. However, this approach is highly sensitive to property transaction activities that could be affected by the general economic conditions and unprecedented events such as the COVID-19 pandemic. Further, there is a widespread discussion of the efficiency of land tax in New South Wales (NSW) in capturing all properties subject to the value uplift. Consequently, a shift towards a broad-based land tax is recommended in which it would provide a more efficient way of infrastructure funding.

Practical implications

Policymakers should consider a broad-based land tax for residential and commercial properties in order to improve the efficiency of passive value capture mechanisms. This also highlights property valuers should play a greater role in the development of broad-based land tax system.

Originality/value

Previous studies have extensively demonstrated property value impacts of transit investments; very little research assesses the growth of value capture funding mechanisms, particularly passive value capture mechanisms. Specifically, this paper is the first paper to assess the effectiveness of passive value capture mechanisms.

Details

Journal of Property Investment & Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
DOI: https://doi.org/10.1108/JPIF-07-2020-0084
ISSN: 1463-578X

Keywords

  • Land value capture
  • Value uplift
  • Infrastructure
  • Land tax
  • Passive value capture
  • Sydney Metro

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Article
Publication date: 29 October 2020

Improving the effectiveness of social media-based crowdsourcing innovations: roles of assurance mechanism and innovator's behaviour

Yefei Yang, Ciwei Dong, Xin Yao, Peter K.C. Lee and T.C.E. Cheng

With the development of social media and Internet technology, many firms have started to use various crowdsourcing innovation platforms to operate their open innovation…

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Abstract

Purpose

With the development of social media and Internet technology, many firms have started to use various crowdsourcing innovation platforms to operate their open innovation business modes. The purpose of this study is to explore how such platforms' assurance mechanisms enhance the effectiveness of crowdsourcing innovations and how to apply assurance mechanisms to handle different innovation tasks, thereby motivating more seekers to use crowdsourcing innovations.

Design/methodology/approach

The authors use a Python-based technology to collect the research data comprising 2,302 solvers and 8,390 trade records from zbj.com and apply statistical methods to test the postulated hypotheses.

Findings

The effectiveness of assurance mechanism is confirmed by its positive relationship with solver's behaviour, thereby improving seeker's retention behaviour. However, task complexity, task novelty and task professionalization have different moderating effects on the relationships among assurance mechanism, solver's (innovator's) behaviour and seeker's behaviour.

Research limitations/implications

This study enriches the literature on crowdsourcing innovations and extends the application of uncertainty reduction theory to innovation research. It also makes the theoretical contribution that the assurance mechanism adopted by the platform has different impacts on user's behaviour depending on the task characteristics.

Practical implications

The findings provide guidance to the platform operator on how to design the assurance mechanism to match the innovation task and innovator's behaviour to reduce seeker's uncertainty, thereby facilitating the seeker's decision-making.

Originality/value

A particular value of this study lies in exploring the impact of the platform assurance mechanism of social media-based crowdsourcing innovations on innovator's behaviour, which may further improve seeker's behaviour, based on uncertainty reduction theory.

Details

Industrial Management & Data Systems, vol. ahead-of-print no. ahead-of-print
Type: Research Article
DOI: https://doi.org/10.1108/IMDS-05-2020-0286
ISSN: 0263-5577

Keywords

  • Crowdsourcing innovations
  • Uncertainty reduction theory
  • Social media
  • Platform
  • Assurance mechanism

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Article
Publication date: 19 January 2015

Wave-transmitting method for a travelling-wave-type omnidirectional mobile robot

Masashi Konno, Yutaka Mizota and Taro Nakamura

This paper aims to develop a wave-transmitting mechanism for a travelling-wave-type omnidirectional mobile robot. Existing omnidirectional mechanisms are prone to movement…

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Abstract

Purpose

This paper aims to develop a wave-transmitting mechanism for a travelling-wave-type omnidirectional mobile robot. Existing omnidirectional mechanisms are prone to movement instability because they establish a small contact area with the ground. The authors have developed a novel omnidirectional mobile robot that achieves stable movement by a large ground-contact area. The proposed robot moves by a wave-transmitting mechanism designed for this purpose.

Design/methodology/approach

To achieve stable movement, a spiral-type travelling-wave-propagation mechanism that mimics the locomotion mechanism of a snail was developed. The mechanism was applied to an omnidirectional mobile robot.

Findings

The practicality of magnetic attraction was verified in experiments of the wave-transmitting mechanism. Moreover, omnidirectional movement was confirmed in a robot prototype adopting this mechanism.

Research limitations/implications

The proposed robot will eventually be deployed in human spaces such as factories and hospitals. A mechanically improved version of the robot will be evaluated in load-driving experiments and equipped with control systems.

Originality/value

This paper proposes an omnidirectional mobile robot with a large ground contact area that moves by continuous travelling waves. The practicability of this mechanism was experimentally confirmed, and a prototype robot achieved omnidirectional movement.

Details

Industrial Robot: An International Journal, vol. 42 no. 1
Type: Research Article
DOI: https://doi.org/10.1108/IR-10-2014-0401
ISSN: 0143-991X

Keywords

  • Mobile robots
  • Biomimetics
  • Robot design

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Article
Publication date: 12 October 2012

How to determine the performance of a system

Zhang Han‐jiang and Luo Duan‐hong

The purpose of this paper is to describe how the performance of a system is determined.

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Abstract

Purpose

The purpose of this paper is to describe how the performance of a system is determined.

Design/methodology/approach

Systems with the same structure or function often have different performances. What makes the difference? Within a system, the various actors make their decisions by their own and their actions depend on the mechanism of the system. The actors' strategy selection under different mechanisms and the mechanism design are precisely in the range of Game Theory. This paper compares two different pricing mechanisms, the Stackelberg Game and Cournot Game, in a linear supply chain. And the obtained result of the different behavior (Pm*, Pr*) and different performance (Um*, Ur*) of the supply chain obviously approves our proposition that the operational mechanism is of great importance to the performance of the system, the same as structure.

Findings

It is the structure of the system and operational mechanism which determines the performance of the system.

Research limitations/implications

The paper's limitations lie in the fact that it is not yet based on experimental evidence from real‐world systems.

Practical implications

Game Theory is one of the most effective methods to study the systematic mechanism, especially the mechanism designs, because it reveals the inherent nature of the systematic mechanism.

Originality/value

This paper points out that the mechanism which restricts each behavioral subject determines the performance of these systems. It puts forward a new region for the research of general system theory.

Details

Kybernetes, vol. 41 no. 9
Type: Research Article
DOI: https://doi.org/10.1108/03684921211275414
ISSN: 0368-492X

Keywords

  • General system theory
  • Systems engineering
  • Game theory
  • Mechanism
  • Performance

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Article
Publication date: 4 October 2011

Joint analysis in rapid fabrication of non‐assembly mechanisms

Yonghua Chen and Chen Zhezheng

The main purpose of this study is to develop a systematic method that can minimize joint clearance for non‐assembly mechanism fabrication using a layer‐based fabrication…

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Abstract

Purpose

The main purpose of this study is to develop a systematic method that can minimize joint clearance for non‐assembly mechanism fabrication using a layer‐based fabrication technology.

Design/methodology/approach

Joint clearance is one of the key factors affecting a mechanism's performance. Hertz theory is adopted to analyze the joint clearance‐penetration displacement relationship and the impact force‐displacement relationship. This analysis has indicated the importance of reducing joint clearance. To reduce joint clearance in layer‐based fabrication, a drum‐shaped roller is proposed for pin joint design in non‐assembly mechanism fabrication. Compared to cylindrical pin joint design, a drum‐shaped roller joint results in less impact force in mechanism operation. Furthermore, the joint clearance can also be drastically reduced.

Findings

Large joint clearance could introduce instability into the dynamic behaviour of a mechanism. By applying a drum‐shaped roller, the instability could apparently be alleviated. This has been demonstrated by both simulation and fabrication of a number of mechanisms with and without drum‐shaped pin joints.

Practical implications

Since the proposed joint design can reduce the joint clearance in rapid fabrication of non‐assembly mechanisms, it is possible to expand layer‐based rapid fabrication techniques for more mechanism design applications.

Originality/value

Layer‐based fabrication technologies have two distinct advantages: building parts without geometry restriction; and building sub‐systems (static or mobile) without the need for assembly. Only very few previous studies have investigated the applications that can benefit from the second advantage due to the limited accuracy of layer‐based technologies in making joints of a mechanism. Through the proposed drum‐shaped roller pin joint design together with the proposed joint design guidelines, joint clearance can be reduced significantly. Thus, sub‐systems or mechanisms built using layer‐based technologies could have accuracy close to the design specification. This will expand the application of layer‐based technologies to more mechanism or mobile mechanical system studies.

Details

Rapid Prototyping Journal, vol. 17 no. 6
Type: Research Article
DOI: https://doi.org/10.1108/13552541111184134
ISSN: 1355-2546

Keywords

  • Rapid fabrication
  • Rapid prototypes
  • Joint clearance
  • Non‐assembly mechanisms
  • Mechanical engineering

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Article
Publication date: 27 April 2012

Direct kinematic analysis of a heavy‐payload forging manipulator in the grasping stage

Chu Xiaobing, Gao Feng and Ge Hao

The purpose of this paper is to present the direct kinematic analysis of a heavy‐payload forging manipulator. In the grasping stage, the manipulator is equivalent to a…

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Abstract

Purpose

The purpose of this paper is to present the direct kinematic analysis of a heavy‐payload forging manipulator. In the grasping stage, the manipulator is equivalent to a 3‐DOF under‐actuated mechanism. In order to deal with the direct position kinematics of the under‐actuated mechanism, the analysis is performed in two steps.

Design/methodology/approach

The paper analyzes the direct position kinematics of the 3‐DOF under‐actuated mechanism as follows: first, the authors add a virtual constraint on the mechanism, convert it to a 2‐DOF fully actuated mechanism and calculate the direct kinematics of the constrained mechanism. Then, the constraint is applied to many different positions and the corresponding direct kinematics of the constrained mechanism are calculated, respectively. Finally, the mechanism with lower gravitational potential energy than any other constrained mechanism is chosen, and its direct position is what is needed for the 3‐DOF underactuated mechanism.

Findings

The paper provides a solution for the direct kinematic analysis of a heavy‐payload forging manipulator in the grasping stage. Furthermore, the simulation and experiment results confirm the effectiveness of the solution.

Originality/value

The paper proposes a methodology to deal with the direct position kinematics of the 3‐DOF under‐actuated mechanism in two steps.

Details

Industrial Robot: An International Journal, vol. 39 no. 3
Type: Research Article
DOI: https://doi.org/10.1108/01439911211217134
ISSN: 0143-991X

Keywords

  • Kinematics
  • Mechanical systems
  • Direct kinematics
  • Forging manipulator
  • Under‐actuated
  • Virtual constraint

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Article
Publication date: 4 September 2020

Corporate governance mechanisms and corporate performance of firms in Nigeria and Ghana

Martha Coleman and Mengyun Wu

This study investigates the impact of corporate governance (CG) mechanisms with inclusion of compliance and diligence index on corporate performance (CP) of firms in…

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Abstract

Purpose

This study investigates the impact of corporate governance (CG) mechanisms with inclusion of compliance and diligence index on corporate performance (CP) of firms in Nigeria and Ghana. It further examines the moderating effect of financial distress on the relationship between CG and CP.

Design/methodology/approach

The study used panel data of 102 nonfinancial listed firms of Nigeria and Ghana stock exchange for the period 2012–2016 with total observation of 510. The study first used OLS in estimating the influence of CG mechanisms on CP. Due to multicollinearity in the independent variables, ridge regression was employed.

Findings

It was revealed that ownership structure index and board compliance and diligence index, board size, board disclosure, ownership structure, shareholders' right and board compliance and diligence index had positive influence on ROA and ROE. Growth of Tobin's Q depends on board procedure and board compliance and diligence index. Also, financial distress (ZFS) negatively moderates the relationship between board structure index, board disclosure index, board procedure index, shareholders' right and performance (ROA and ROE) but negatively moderates between ownership structure index and Tobin's Q.

Practical implications

This study provides interesting findings to policymakers in full implementation of CG codes as stated by OCED (2015) by West African firms with greater emphasis on compliance and diligence index since it positively influences all CP measures.

Originality/value

The study provides evidence of the importance of the introduction of the new index: compliance and diligence, which looks at disclosure of CSR activities. This has been overlooked by most researchers especially in Africa in assessing quality CG mechanisms.

Details

International Journal of Productivity and Performance Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
DOI: https://doi.org/10.1108/IJPPM-01-2020-0020
ISSN: 1741-0401

Keywords

  • Corporate governance
  • Corporate social responsibility
  • Financial distress
  • Internalization

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Article
Publication date: 26 August 2020

Determinants of heterogeneity in investors' opinions on IPO valuation: evidence from the Pakistan stock market

Waqas Mehmood, Rasidah Mohd-Rashid, Norliza Che-Yahya and Chui Zi Ong

This study investigated the effect of pricing mechanism and oversubscription on the heterogeneity of investors' opinions on initial public offering (IPO) valuation.

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Abstract

Purpose

This study investigated the effect of pricing mechanism and oversubscription on the heterogeneity of investors' opinions on initial public offering (IPO) valuation.

Design/methodology/approach

Besides the ordinary least square method, this study incorporated robust least square, stepwise least square and quantile regression methods to investigate the aftermarket behaviour of investors using the price range on the first day of trading of 82 IPOs listed on the Pakistan stock exchange.

Findings

The aftermarket behaviour of investors was found to be significantly influenced by the pricing mechanism, oversubscription, financial leverage, political stability and the risk of IPO, whereas control of corruption showed an insignificant impact. Concurrently, the findings showed that pricing mechanism and oversubscription played a crucial role in determining the intensity of investors' heterogeneous opinions at high levels of significance.

Originality/value

Pricing mechanism and oversubscription not only signal the quality of IPOs but also provide an important means for reducing the information asymmetry associated with new listings. Based on the literature review, it was found that both the pricing mechanism and oversubscription have yet to be explored in investigating the aftermarket behaviour of investors using the price range in the Pakistan IPO market. This study suggests that book building pricing mechanism and oversubscription are associated with lower heterogeneity in investors’ opinions at a high level of significance.

Details

Review of Behavioral Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
DOI: https://doi.org/10.1108/RBF-04-2020-0078
ISSN: 1940-5979

Keywords

  • Pricing mechanism
  • Oversubscription
  • Heterogeneity of opinions
  • Pakistan IPO market

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Article
Publication date: 15 September 2020

Controlling opportunism in partnerships: a process view

Dayashankar Maurya and Amit Kumar Srivastava

Controlling partner opportunism in public-private partnership (PPP) requires effective adaptation of governance mechanisms over life-cycle. This paper proposes a process…

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Abstract

Purpose

Controlling partner opportunism in public-private partnership (PPP) requires effective adaptation of governance mechanisms over life-cycle. This paper proposes a process framework of effective governance adaptation for controlling partner opportunism in case of PPP.

Design/methodology/approach

Using in-depth interview data and extensive secondary data, a comparative case analysis of governance adaptation for controlling partner opportunism in two provinces in the “National Health Insurance Program” in India was conducted. The study uses contextual analysis and critical incident technique to identify the opportunistic behaviors and use processing tracing to map the adaptation of governance mechanisms for effective control of partner opportunism.

Findings

The paper makes several propositions and proposes a three-stage framework for effective governance adaptation for controlling partner opportunism. The study proposes that governance adaptation begins with the iterative process of discovering governance needs, followed by the dynamic interaction between governance mechanisms shaping the adaptation process. The process ends with two-dimensional alignment–alignment of partner's goal and alignment of governance mix with governance needs resulting in effective governance.

Research limitations/implications

The paper contributes to the existing debates on governance mix and its effectiveness in PPP by proposing two-dimensional alignment for optimal governance adaptation leading to effective PPP governance.

Originality/value

Existing research presents contradictory findings about the effectiveness of governance mechanisms to control partner opportunism. The proposed process-view of governance adaptations tries to address this conundrum to some extent.

Details

International Journal of Public Sector Management, vol. 33 no. 6/7
Type: Research Article
DOI: https://doi.org/10.1108/IJPSM-02-2020-0062
ISSN: 0951-3558

Keywords

  • Contract governance
  • Governance adaptation
  • Public-private partnership
  • Partner opportunism
  • Public health

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Article
Publication date: 5 October 2020

Strategic management in family business. The missing concept of the familiness learning mechanism

Ismael Barros-Contreras, Rodrigo Basco, Natalia Martín-Cruz and Juan Hernangómez

The purpose of this article is to provide a comprehensive understanding of the roots of family firms' competitive advantages by defining and testing the familiness…

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Abstract

Purpose

The purpose of this article is to provide a comprehensive understanding of the roots of family firms' competitive advantages by defining and testing the familiness learning mechanisms that emerge from the interaction between family and firm. Because family members are economically, emotionally and socially attached to the firm, family firms are expected to be able to develop unique and difficult to imitate learning mechanisms related to family firm value creation.

Design/methodology/approach

This study operationalizes and tests the concept of the familiness learning mechanism using a sample of nonlisted Spanish family firms. The sample is analyzed using the structural equation modeling method.

Findings

Results show that family firms' ability to accumulate internal and external knowledge, integrate social knowledge, as well as create and retain socioemotional knowledge forms the concept of the familiness learning mechanism, and the authors show what implications it might have for family firm value creation.

Originality/value

By using the dynamic capabilities approach, this article highlights the importance of the knowledge and learning derived from family involvement in the firm. The creation of learning mechanisms occurs because of the close relationships between family members and their simultaneous participation in the family and in the company systems, which creates a unique context wherein knowledge and learning emerge in an idiosyncratic manner.

Details

Journal of Family Business Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
DOI: https://doi.org/10.1108/JFBM-10-2019-0066
ISSN: 2043-6238

Keywords

  • Familiness learning mechanism
  • Knowledge accumulation
  • Social knowledge integration
  • Socioemotional knowledge retention
  • Family firm

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