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The paper seeks to develop an original monetary model for evaluating employees of a company. Employees are an important element of the business process. However, apart from their role as a means of production, their value is not disclosed on the assets side of the classical balance‐sheet. Employees may be disclosed among the assets only if they are expressed in value terms. Therefore, the fundamental aim of the paper is to provide an appropriate monetary mode for valuating employees.

A descriptive approach is sued to identify the basic problems of existing monetary models for valuating employees. According to these findings a totally different approach is taken and an original dynamic model is developed to evaluate employees.

Existing criteria do not offer appropriate solutions for expressing the value of an employee in monetary terms. The model presented here efficiently overcomes most of the practical problems and can be used as an appropriate estimator of employees' value expressed in monetary terms.

The model presented has not been sufficiently verified in practice. The model could prove to be directly applicable in those enterprises that would like to define the value of their employees.

The model presented is original and presents one possible approach to the solution of the problems mentioned above.

The purpose of the study is to develop a macroeconometric model for evaluation of trade policies and forecasting of trade performance of Pakistan with different regions or group of countries.

These regions or group of countries are Organization of Islamic Cooperation, Organization of Economic Cooperation and Development, Association of Southeast Asian Nations, South Asian Association for Regional Cooperation and the rest of the world. A macroeconometric model containing 15 behavioral equations and eight identities.

Cointegration results suggest that there exist long-run relationships among variables of all behavioral equations. Additionally, results of different policy shocks based on unit value of export (export price), unit value of import (import price), exchange rate, foreign direct investment, interest rate and foreign exchange reserve suggest that the model is useful for economic planning to sustain growth performance of Pakistan.

In this study, the authors develop for the first time ever a macroeconometric model for the evaluation and forecasting of regional trade policy and performance for Pakistan.

The purpose of this paper is to investigate the effect of complete versus partial observations of service failure and recovery. This study also aims at investigating the effect of observing customers’ need for cognitive closure and types of compensation that a service provider offers.

Two experiments are conducted to test the research hypotheses. The authors use scenarios describing failure and recovery encounters that occur to a target customer at restaurant settings, and through manipulation of complete versus partial observations, they investigate observers’ attitudes and behavioral intentions.

The results suggest that customers with a partial observation are less forgiving than those with a complete observation. In particular, the former sympathized more with a target customer, blamed a service provider more and a target customer less and had lower repurchase intentions than the latter. The authors find that the need for cognitive closure heightens this tendency following a partial observation of service failure. They also find that following a complete (versus partial) observation, observers reacted more favorably to service recovery when it included (versus did not include) monetary compensation.

This research studies the effect of locus of causality following a partial versus complete observation. Future research could further examine the effect of stability and controllability. Also, the authors examined the effect of the need for cognitive closure on evaluations of service failure following a partial versus complete observation. Future research could examine the effect of some other individual difference variables.

The results offer some measures to be taken by practitioners. In particular, practitioners are advised to not offer monetary compensation when majority of observers have had a partial observation. Moreover, they are advised to offer some explanation in a timely and effective manner to ensure observers who are under the negative impact of a partial observation have some information so that they revisit their service evaluations.

The literature assumes that in failure and recovery incidents, all observing customers would know the entire story. This research challenges this assumption and highlights the key role of observation type (partial versus complete observation). Further, this research examines the effect of the need for cognitive closure on service evaluations following a partial versus complete observation. The current research finds that supposedly favorable measures by a firm (i.e. monetary compensation) may in fact backfire when a partial observation is at play.

This paper aims to develop a practical tool to evaluate the outcomes of innovative practices in the building and construction industry.

A practical tool was proposed. It is an online tool programmed in a JavaScript environment. A previously developed and tested framework was the basis for this tool. Six case projects were used to test and validate the reliability of the tool. The outcomes of the building projects were categorized into six categories of economic, quality, social, environmental, satisfaction and soft and organizational impacts.

The most important finding of this research was that the evaluation of innovation in building and construction would be possible only if the subjective assessment is tolerated to include the non-monetary outcomes in the evaluation, as well as the monetary outcomes.

The findings of this research are limited to the domestic and medium density building projects; thus, the outcomes might be generalized with appropriate care. The developed tool would assist practitioners in the field of building and construction to realize the impacts of innovation introduced into their projects. The project owners and developers could be the main audience of this tool.

The main contribution of the current study into the literature is the consideration of tangible and intangible outcomes of innovation together. In other words, this tool not only evaluates monetary outcomes but also takes into account non-monetary outcomes. It has been stated in the literature that 80 per cent of firms choose “non-numeric” project selection models (Meredith and Mantel, 2006). To provide a full representation of the reality, this model considers both numeric and non-numeric measures by applying both quantitative and qualitative evaluation methods. The project owners and developers could be the main audience of this tool. It is worth mentioning that this tool is the first attempt of its kind for building and construction projects, and it is applicable and fully practical.

This tool is the first attempt of its kind to evaluate practically the outcomes of innovation in the building and construction industry. The tool practicality and applicability in the real-world project is a privilege which gives more reliability and credibility to the proposed approach of innovation evaluation.

This study investigates relationships among components of the marketing communication mix, brand identification, brand image, brand love and brand loyalty. The focus of this study is advertisement spending, customers' attitudes toward the advertisement, monetary promotion and non-monetary promotion as marketing communication mix elements.

Proposed relationships are investigated with 683 previous coffee shop customers, based on a cross-section, online, self-administered survey in South Korea.

Results identify advertising spending, attitude toward the advertisement, monetary promotion, and non-monetary promotion play key roles in influencing brand identification; however, they do not influence brand image. Both brand identification and brand image further influence brand love on brand loyalty.

This study is the first to investigate the marketing communication mix elements in a coffee shop context.

What would have been the hypothetical effect of monetary policy shocks had a country never joined the euro area, in cases where we know that the country in question actually did join the euro area? It is one thing to investigate the impact of joining a monetary union, but quite another to examine two things at once: joining the union and experiencing actual monetary policy shocks. The authors propose a methodology that combines synthetic control ideas with the impulse response functions to uncover dynamic response paths for treated and untreated units, controlling for common unobserved factors. Focusing on the largest euro area countries, Germany, France, and Italy, the authors find that an unexpected rise in interest rates depresses inflation and significantly appreciates exchange rate, whereas gross domestic product (GDP) fluctuations are less successfully controlled when a country belongs to the monetary union than would have been the case under the independent monetary policy. Importantly, Italy turns out to be the overall beneficiary, since all three channels – price, GDP, and exchange rate – deliver the desired results. The authors also find that stabilizing an economy within a union requires somewhat smaller policy changes than attempting to stabilize it individually, and therefore provides more policy space.

Prefabricated products are continually entering the building construction market; yet, the decision to use prefabricated products in a construction project is based mostly on personal preferences and the evaluation of direct costs. Researchers and practitioners have debated appropriate measurement systems for evaluating the impacts of prefabricated products and for comparing them with conventional on-site construction practices. The more advanced, cost–benefit approach to evaluating prefabricated products often inspires controversy because it may generate inaccurate results when converting non-monetary effects into costs. As prefabrication may affect multiple organisations and product subsystems, the method used to decide on production methods should consider multiple direct and indirect impacts, including nonmonetary ones. Thus, this study aims to develop a multi-criteria method to evaluate both the monetary and non-monetary impacts of prefabrication solutions to facilitate decision-making on whether to use prefabricated products.

Drawing upon a literature review, this research suggests a multi-criteria method that combines the choosing-by-advantage approach with a cost–benefit analysis. The method was presented for validation in focus group discussions and tested in a case involving a prefabricated bathroom.

The analysis indicates that the method helps a project’s stakeholders communicate about the relative merits of prefabrication and conventional construction while facilitating the final decision of whether to use prefabrication.

This research contributes a method of evaluating the monetary and non-monetary impacts of prefabricated products. The research underlines the need to evaluate the diverse benefits and sacrifices that stakeholder face when considering production methods in construction.

This research aims to examine whether shopping orientation (experiential vs task-focused) influences how consumers react toward nonmonetary and monetary promotions. It was predicted that promotions are more effective if the promotional benefits are congruent with consumers’ shopping orientation. Moreover, consumers’ financial budget was assumed to moderate the influence of shopping orientation on promotion effectiveness.

The hypotheses were tested in three experiments. Study 1 used a measure of shopping orientation as a consumer disposition and examined its influence on promotion attractiveness. Two further studies used an experimental manipulation of shopping orientation and examined its influence on promotions attractiveness and retailer choice.

The results supported the hypotheses. Task-focused shoppers evaluated monetary promotions as more attractive than nonmonetary promotions. Experiential shoppers evaluated both types of promotions as comparably attractive. Furthermore, experiential shoppers were more likely than task-focused shoppers to choose a retailer offering a nonmonetary promotion over a retailer offering a monetary promotion. Low financial budget, however, reduced the influence of shopping orientation on retailer choice.

To effectively use promotions as a tool, marketers and retailers need to know when and how to use them, as well as understand which type of promotion is the most effective. This research implies that retailers will benefit from customizing promotions to fit consumers’ shopping orientations. Furthermore, the findings show that the advantage of such a tailored approach is reduced if consumers’ financial budget is limited.

The purpose of this paper is to propose a model to disclose, report, and manage intellectual capital (IC) in a network of companies. To this end, it provides a monetary evaluation of core competencies (CCs), which may be defined as a bundle of various types of intangibles, aggregating their value into a network statement, called a network competence report (NCR).

The paper utilises the interventionist approach. The intervention was conducted by the authors and studied through joint reflections on documentation from meetings and individual, semi-structured interviews.

The NCR makes IC more transparent, thereby allowing companies and network managers to assess the strengths and weaknesses of CCs with a consequent potential insight into their potential earnings.

This method is labour-intensive, especially in its first application, and the data collection requires considerable company involvement. The interventionist approach may have influenced the empirical results, which may be affected by subjectivity. As the paper involves a single network, care should be taken in generalising its empirical evidence.

In making IC management more effective, the NCR is valuable for academics, management, political authorities and, more generally, for a network’s stakeholders. The NCR is a tool for internal and external communication purposes, creating the conditions to mobilise IC. The proposed model supports the diagnosis of networks by providing CC maps and assessments relevant to their governance and competitiveness. The NCR depicts company and network CCs, allowing intertemporal comparisons that facilitate understanding of the effectiveness of the network’s actions and the importance of belonging to it.

This paper represents a first attempt to evaluate, in monetary terms, CCs in a network. Its value lies in its practical implications. Moreover, the paper investigates IC in applied terms, contributing to reducing the gap between theory and practice.

Open-Economy models are central to the discussion of the trade-offs monetary policy faces in an increasingly more globalized world (e.g., Marínez-García & Wynne, 2010), but bringing them to the data is not without its challenges. Controlling for misspecification bias, we trace the problem of uncertainty surrounding structural parameter estimation in the context of a fully specified New Open Economy Macro (NOEM) model partly to sample size. We suggest that standard macroeconomic time series with a coverage of less than forty years may not be informative enough for some parameters of interest to be recovered with precision. We also illustrate how uncertainty also arises from weak structural identification, irrespective of the sample size. This remains a concern for empirical research and we recommend estimation with simulated observations before using actual data as a way of detecting structural parameters that are prone to weak identification. We also recommend careful evaluation and documentation of the implementation strategy (specially in the selection of observables) as it can have significant effects on the strength of identification of key model parameters.