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We propose a novel method of forecasting equity option spreads using the degree of multiple listing as a proxy for expectations of future spreads. Spreads are a transactions fee for traders. To determine the future spreads on options being considered for purchase, traders must take current market trends affecting spreads into account. One such trend is the continued decline in spreads due to the multiple listing of options. Options listed on 4–6 exchanges compete more intensely than those listed on fewer exchanges, so that they may be expected to experience greater future declines in spreads. This study identifies the listing dates and number of listed exchanges for options listed on up to six exchanges as of May 2005. Listing criteria for multiple listing are defined with short- and long-term volumes, market capitalization, net income, and total assets being significant determinants of multiple listing. Short- and long-term volumes were found to have no explanatory power for multiple listing. Ranges of listing criteria are specified so that traders may locate the options of their choice.

Despite the importance of hosts who contribute to the success of accommodation sharing through sharing underutilized space with guests, current literature sheds little light on what exactly incentivizes hosts to grow their properties. The purpose of this study is to investigate the effects of multifaceted motivations including financial benefits, online social interaction and membership seniority and their interplay on hosts’ multiple listing behavior.

The study is instantiated on real-world business data collected from an accommodation-sharing platform in China. The data set includes 3,199 observations of 252 multi-listing hosts in Beijing who managed 815 properties from September 2012 to October 2016.

The study discloses that financial benefits, online social interaction and membership seniority significantly incentivize hosts to list multiple properties on the accommodation-sharing platform. In particular, the social incentive is the most important driver among the three. With a 1 per cent increase in online social interactions, the number of properties operated by a host would increase by 13.5 per cent. While the financial benefits and online social interaction motivate hosts to engage in the multi-listing behavior, such effects are significantly mitigated as the membership seniority increases.

This study adds to the extant literature a unique yet less researched perspective of supply expansion driven by hosts. It also provides important practical implications for managing multiple properties for a healthy and viable accommodation-sharing community.

While a majority of the extant research on the sharing economy primarily takes a consumer-related perspective, this study addresses a different and original topic about hosts’ multiple-listing behavior that drives the supply of accommodation sharing. It is a first empirical investigation of the increase of accommodation sharing supply with host motivations explained.

With the prevalence of the sharing economy phenomenon, there are an increasing number of hosts on Airbnb who manage more than one listing. Managing more listings likely makes hosts more seasoned in terms of serving guests, but it may undermine host quality due to hosts’ constrained capability. This paper aims to examine the effects of host quality attributes and the number of listings per host on the reservation performance of these listings.

Using a large-scale but granular data set of 5,805 active listings of 4,608 Airbnb hosts in Austin, Texas, this study estimates the effects of host attributes (host quality and listing quantity) on the performance of the hosts’ Airbnb listings through a blend of regression models.

This study evidences that host quality attributes significantly influence listing performance through cue-based trust. In addition, this study finds a “trade-off” between host quality and the quantity of their listings. As the number of listings managed by a host increases, the performance effects of host quality diminish.

The business implications of this study include the suggestion that sharing economy businesses such as Airbnb should sustain service quality through incentivizing hosts to improve host quality while balancing the quantity of listings managed.

This study contributes to the literature through its meaningful theoretical extension in the sharing economy context and unique data-driven insights enabled by an analytical approach. It addresses the critical but less researched topic of host quality and listing quantity and generates important practical business and policy implications.

The purpose of this paper is twofold: first, this study analyzes the extent to which banks report online their corporate social responsibility (CSR) practices; second, it determines the impact of size, ownership structure, multiple exchange listing, and the internationalization of banks on the level of their online CSR reporting.

This study examines the Turkish banking industry’s online CSR communications by performing a content analysis of banks’ online reporting of their CSR practices in four sub-dimensions, namely, environment and energy, human resources, products and customers, and community involvement. A sample of 25 banks in Turkey was grouped according to the criteria of size, ownership structure (listed or unlisted on stock exchanges), multiple exchange listing (listing on home and foreign exchanges), and internationality (local or foreign). This study employs a nonparametric Kruskal-Wallis test to determine the significance of the differences among these groups.

The results of the study demonstrate that the most disclosed dimension on the websites of the banks is products and customers. In particular, there is a lack of disclosure on items of environment and energy. Further, the findings of the research show that size, ownership structure, and multiple exchange listing are significant in explaining online CSR disclosure level.

Several previous studies have focussed less on the CSR disclosure practices of companies in industries with little direct environmental impact, such as banking and finance. This study extends the previous studies of CSR reporting by gathering data from the banks’ websites rather than their annual reports. This study contributes to the literature by examining the online CSR disclosure practices of banks from an emerging market context and, specifically, that of Turkey.

To promote the success of peer-to-peer accommodation, this study examines the effects of online host–guest interaction as well as the interaction's boundary conditions of listing price and reputation on listing popularity.

Using 330,686 data collected from Airbnb in the United States of America, the authors provide empirical evidence to answer whether social-oriented self-presentation and response rate influence listing popularity from the perspective of social exchange theory (SET). In addition, the authors investigate how these two kinds of online host–guest interactions work with listing price and reputation to influence listing popularity.

The results reveal the positive association between online host–guest interaction and listing popularity. Notably, the authors find that listing price strengthens but listing reputation weakens the positive effects of online host–guest interactions on listing popularity in peer-to-peer accommodation.

This study is the first attempt to adopt SET to explain the importance of online host–guest interactions in influencing listing popularity as well as examine the moderating role of listing price and reputation on the above relationship.

The purpose of this paper is to investigate the impact of different agency practice on agency fees, business efficiency, and housing market liquidity.

The paper studies the effect of sole and multiple agency practices on estate agent efficiency, housing market liquidity, and commission fee levels. The analysis uses the survey data from 2000 to 2006 to investigate the different agency practices across England and Wales and their effect on estate agency business efficiency, housing market liquidity, selling price, and fee levels.

The empirical analysis confirms that agency practice has a locality bias, that is, some regions are more likely to adopt sole agency practice than other regions. The estate agents with a sole agency practice charge a lower agency fee, help clients to achieve better selling price and are more efficient; whereas multiple agency practice facilitates liquidity in the housing market, but experiences higher fall‐through rate.

The research focuses on estate agent rather than consumers due to the limitation of the data based on a research project concerning transaction costs designed prior to this analysis.

There is little other research that investigates the residential estate agency practice and its impact on housing market in the past three decades in England and Wales. The findings are a useful guide for practitioners to better understand the issues associated with different agency practices and should enhance business efficiency and performance.

This paper aims to examine the question of whether commercial, peer-to-peer accommodation platforms (Airbnb, in particular) and hotels are in fierce competition with each other with the possible presence of substitution threats, and compares the time series of the occupancy values across two supplier types.

The cities of Milan and Rome are used as case studies for this analysis. To assess the extent of synchronization, the series of Airbnb and hotels are transformed into a series of symbols that render their rhythmic behavior, and a mutual information metric is used to measure the effect.

The results show that Airbnb hosts and hotels have different seasonal patterns. The diverse occupancy trends support the absence of direct competition between Airbnb and hotels. The findings are consistent in the two analyzed cities (Milan and Rome). Interestingly, there are higher similarities between seasonal occupancy series of Airbnb listings in Milan and Rome, on one side, and hotels in Milan and Rome, on the other, than between Airbnb and hotels in the same city.

The findings show a progressive de-synchronization (within mutual information) among the five groups of Airbnb hosts triggered by the rising professionalization degree. This result suggests the existence of a partial different business model for multi-listing hosts.

The study illustrates an absence of any substitution threat between Airbnb and hotels in both cities. This could have important consequences, especially for the pricing and revenue management policy. In fact, the higher the substitution threat, the higher the attention that Airbnb entrepreneurs should pay to the pricing strategy implemented by hotels, and vice versa.

This study sheds new light on the competition threat between Airbnb and hotels. In this study, hotels and Airbnb hosts appear as two very separate markets.

The purpose of this paper is to investigate the extent of voluntary climate change disclosures in the Turkish banking industry and explore the factors explaining the extent of such disclosures.

The research sample is based upon 24 banks that had been continuously operating in Turkey over the seven-year period from 2010 to 2016. The study uses a disclosure index to investigate the extent of voluntary climate change-related disclosures made in their annual and sustainability reports by banks. The study also investigates factors impacting the extent of disclosures by using multiple regression and fractional regression analysis.

The findings of the research reveal that while the number of banks providing voluntary information on their climate change-related practices substantially increased from 2010 to 2016, there remains a significant number of banks that have not incorporated climate change-related issues into their lending policies or corporate strategies. Further, with regard to the regression analysis, the study documents the significant and positive impacts of bank size, profitability, bank age and listing status upon the extent of the climate change disclosures, in line with political cost and legitimacy theory.

The banking sector crucially impacts climate change indirectly, since banks provide financial backing to companies operating in environmentally sensitive industries. This paper presents empirical evidence of the factors impacting the extent of climate change disclosures by these banks, which might then be referred to by regulatory bodies when developing policies to promote environmentally responsible business practices within the banking industry.

Several parties, which include governments, companies, financial institutions and non-governmental organizations (NGOs) must work together to fight climate change. In this sense, the NGOs and green activists have a crucial role in raising public awareness about climate change, which might then inspire financial institutions to incorporate climate change-related issues into their policies, operations and strategies.

The study extends the prior literature in two ways. This study has concentrated on environmental reporting practices in the banking sector which have been investigated in very few prior studies. Since prior research has focused on developed countries, this paper adds to the current literature by examining the environmental disclosure practices of commercial banks operating in Turkey, which is a rapidly developing country.

The growth of research on the cognitive origins of market performance has focused on the impact of categories as a primary cognitive mechanism by which exchange occurs. In this research, performance outcomes are typically reduced when firms and products fail to meet audiences’ expectations about membership into categories. The ensuing literature has focused on spanning categories as evidence of not meeting audience expectations while largely ignoring the specific study of expectations themselves. This chapter argues that expectations for market behavior are important in their own right, and can impact market outcomes even when categorical boundaries are respected. Using the market for engagement rings as a setting, I show how lack of adherence to expectations can both increase and decrease market value even as the engagement rings adhere to categorical boundaries. Rather than simply focusing on category spanning as evidence that audience expectations have not been met, the findings suggest that expectations should be considered explicitly, with implications for competitive strategy.