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Book part
Publication date: 18 October 2019

Mohammad Arshad Rahman and Shubham Karnawat

This article is motivated by the lack of flexibility in Bayesian quantile regression for ordinal models where the error follows an asymmetric Laplace (AL) distribution…

Abstract

This article is motivated by the lack of flexibility in Bayesian quantile regression for ordinal models where the error follows an asymmetric Laplace (AL) distribution. The inflexibility arises because the skewness of the distribution is completely specified when a quantile is chosen. To overcome this shortcoming, we derive the cumulative distribution function (and the moment-generating function) of the generalized asymmetric Laplace (GAL) distribution – a generalization of AL distribution that separates the skewness from the quantile parameter – and construct a working likelihood for the ordinal quantile model. The resulting framework is termed flexible Bayesian quantile regression for ordinal (FBQROR) models. However, its estimation is not straightforward. We address estimation issues and propose an efficient Markov chain Monte Carlo (MCMC) procedure based on Gibbs sampling and joint Metropolis–Hastings algorithm. The advantages of the proposed model are demonstrated in multiple simulation studies and implemented to analyze public opinion on homeownership as the best long-term investment in the United States following the Great Recession.

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Topics in Identification, Limited Dependent Variables, Partial Observability, Experimentation, and Flexible Modeling: Part B
Type: Book
ISBN: 978-1-83867-419-9

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Article
Publication date: 18 July 2019

Muhammad Irfan, Muhammad Jamaluddin Thaheem, Hamza Farooq Gabriel, Muhammad Sohail Anwar Malik and Abdur Rehman Nasir

The purpose of this research is to quantify the effect of stakeholder conflicts on project constraints in the construction industry using ordinal regression analysis. For…

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1006

Abstract

Purpose

The purpose of this research is to quantify the effect of stakeholder conflicts on project constraints in the construction industry using ordinal regression analysis. For this purpose, the most significant project constraints and factors that cause stakeholder conflicts found in the literature are measured.

Design/methodology/approach

Factors causing stakeholder conflicts and project constraints are extracted through a content analysis of the published literature. Further, a questionnaire survey is conducted involving 170 professionals to assess the effect of conflicts on project constraints. Finally, to obtain a more objective assessment, a statistical model is developed, and to highlight the most severe factors causing conflict and impacting project constraints, ordinal regression analysis is performed.

Findings

The results show that in the construction industry, all project constraints are affected by stakeholder conflicts. Factors that result in stakeholder conflicts indicated a positive relationship with cost, time and resources. This means that any increase or decrease in the effect of stakeholder conflicts will directly influence these three project constraints. Similarly, a negative relationship was observed between stakeholder conflicts and quality, workforce productivity, protection of environment and safety regulations in the construction industry, indicating that increase in the effect of stakeholder conflicts will decrease these four project constraints and vice versa. The results for cumulative ordinal regression model highlight that lack of communication, poor quality of completed works and change orders and rework have intense effects on project constraints collectively.

Originality/value

A small number of studies have been undertaken to examine the emergence of project constraints in the developing countries. And even more, its relationship with stakeholder conflicts in the construction industry is limited. This research highlights the most significant project constraints and factors that result in stakeholder conflicts in the construction industry. Therefore, this study adds to the existing body of knowledge by developing an ordinal regression model that will help decision-makers and top management control this enigma of stakeholder conflicts in the construction industry.

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International Journal of Conflict Management, vol. 30 no. 4
Type: Research Article
ISSN: 1044-4068

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Article
Publication date: 25 August 2021

Nisful Laila, Sylva Alif Rusmita, Eko Fajar Cahyono and W.N.W. Azman-Saini

This study aims to analyze the determinants of ratings of corporate bonds and sukuk issued by firms listed on the Indonesia Stock Exchange (IDX) for the 2013–2019 period.

Abstract

Purpose

This study aims to analyze the determinants of ratings of corporate bonds and sukuk issued by firms listed on the Indonesia Stock Exchange (IDX) for the 2013–2019 period.

Design/methodology/approach

This study uses a quantitative approach by testing hypotheses and using logistic regression. Ordinal logistic endogenous (or dependent) variables (Y) in ordinal logistics use data in the form of levels (ordinal scale). Independent (or exogenous) variables (X), include financial and non-financial factors for dependent (or endogenous) variables (Y), namely, of corporate bonds and sukuk ratings. There are two approaches to the study they are Logit and Gompit (Negative Log-Log. The population of the study is Indonesian companies listed on the IDX that issued bonds and sukuk for the 2013–2019 periods. The sampling technique is purposive. In total, 16 corporate companies adhering to the above criteria and issuing bonds and sukuk were chosen. In total, 270 types of bonds and 280 types of sukuk were selected as samples.

Findings

The results of the Logit and Gompit regression show that leverage ratio, firm size, security structure and maturity date are important determinants of corporate bond ratings while profitability and liquidity ratios appear to have no influence on the rating. In the case of sukuk, profitability, liquidity and maturity date play important roles in influencing the corporate sukuk rating. However, there is no evidence to suggest that leverage ratio, company size and security structure may affect sukuk ratings.

Research limitations/implications

For both sukuk and bond issuers, it is necessary to pay attention to the factors that may affect the ratings. Specifically, Sukuk issuers need to pay attention to the return of asset, current ratio, growth and structure. On the other hand, bond issuers need to consider depth to equity, structure and maturity. As for investors, the findings of this study reveal that both bond and sukuk ratings reflect their performance.

Practical implications

This study provides useful information for investors that allows them to assess the risk of sukuk or bonds chosen based on rating and financial performance.

Originality/value

The novelty of this study lies in its econometric methodology used to identify factors which influence sukuk and bond ratings. Specifically, this study used two different techniques that allow a robust conclusion to be drawn. Furthermore, this study provides a systematic analysis which allows comparison between factors which affect bond and sukuk ratings in Indonesia.

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Journal of Islamic Accounting and Business Research, vol. 12 no. 8
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 8 May 2017

Rahul Kumar and Pradip Kumar Bala

Collaborative filtering (CF), one of the most popular recommendation techniques, is based on the principle of word-of-mouth communication between other like-minded users…

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201

Abstract

Purpose

Collaborative filtering (CF), one of the most popular recommendation techniques, is based on the principle of word-of-mouth communication between other like-minded users. The process of identifying these like-minded or similar users remains crucial for a CF framework. Conventionally, a neighbor is the one among the similar users who has rated the item under consideration. To select neighbors by the existing practices, their similarity deteriorates as many similar users might not have rated the item under consideration. This paper aims to address the drawback in the existing CF method where “not-so-similar” or “weak” neighbors are selected.

Design/methodology/approach

The new approach proposed here selects neighbors only on the basis of highest similarity coefficient, irrespective of rating the item under consideration. Further, to predict missing ratings by some neighbors for the item under consideration, ordinal logistic regression based on item–item similarity is used here.

Findings

Experiments using the MovieLens (ml-100) data set prove the efficacy of the proposed approach on different performance evaluation metrics such as accuracy and classification metrics. Apart from higher prediction quality, coverage values are also at par with the literature.

Originality/value

This new approach gets its motivation from the principle of the CF method to rely on the opinion of the closest neighbors, which seems more meaningful than trusting “not-so-similar” or “weak” neighbors. The static nature of the neighborhood addresses the scalability issue of CF. Use of ordinal logistic regression as a prediction technique addresses the statistical inappropriateness of other linear models to make predictions for ordinal scale ratings data.

Details

Journal of Modelling in Management, vol. 12 no. 2
Type: Research Article
ISSN: 1746-5664

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Open Access
Article
Publication date: 15 January 2020

Maurizio Lanfranchi, Angela Alibrandi, Agata Zirilli, Georgia Sakka and Carlo Giannetto

The purpose of this paper is to attempt to outline the standard profile of the typical wine consumer, by identifying some relevant features that can influence his/her…

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1112

Abstract

Purpose

The purpose of this paper is to attempt to outline the standard profile of the typical wine consumer, by identifying some relevant features that can influence his/her purchasing choices. Therefore, the purpose of the research is to identify the pre-eminent attributes for wine consumers and the different levels of importance that consumers ascribe to the attributes identified at the time of purchase.

Design/methodology/approach

In order to collect the necessary data, an ad hoc questionnaire was utilized. The questionnaire, which was anonymous, was directly distributed with the face-to-face method. In total, 1,500 copies of the questionnaire had been prepared. The data collected were processed through the use of the binary logistic regression model and the ordinal logistic regression model. The first binary logistic regression model allows to evaluate the dependence of the dichotomous variable on some potential predictors. The ordinal logistic regression model, known in literature as a cumulative model of proportional quotas, is generally appropriate for situations in which the ordinal response variable has discrete categories.

Findings

The results returned by the elaboration of the binary logistic regression model refer to the influence of the variables sex, age, educational status and income on the “wine consumption” result, which is a dichotomous variable. The only variables found to be statistically significant are gender and educational status. The most significant variables that emerged from the implementation of the ordinary logistic regression model are gender, brand, choice based on price, place of production, harvest and certification. The analysis carried out has shown that with reference to wine as a product, it is essential to focus on several attributes, among which there are of course quality and brand.

Research limitations/implications

Although field experiments are extremely useful for testing behavioral hypotheses, they are often limited by a small sample. Future research in this area might focus on the knowledge level of sustainable wine of the consumer. In relation to the knowledge of the characteristics of the wine, it is possible to estimate the willingness to pay a surplus for a wine produced with sustainable methods by the consumer and the possible level of price premium.

Originality/value

The originality of the research lies mainly in a deeper knowledge of wine consumption trends. This information is useful to better define the wine market and to allow, especially to small businesses, to establish effective marketing strategies in relation to the real preferences of consumers and the decision-making process of choice put in place by them. In order to achieve this, the influence of all the variables on the “satisfaction of wine consumption” result was evaluated. The strength of this paper is the use of an adequate statistical approach based on the use of models, typical of inferential statistics, to reach conclusions that can be extended to the entire population of wine growers.

Details

British Food Journal, vol. 122 no. 3
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 18 May 2020

Michael McCord, Peadar Davis, John McCord, Martin Haran and Karen Davison

The role of energy efficiency and particularly energy performance certificates (EPCs) has emerged as a topical and important aspect of real estate markets. Various studies…

Abstract

Purpose

The role of energy efficiency and particularly energy performance certificates (EPCs) has emerged as a topical and important aspect of real estate markets. Various studies have been carried out investigating the perceived capitalisation effects of energy efficiency on property prices. There, however, remains divergence of opinion whether the capitalisation effect is truly in existence with extant research showing differing magnitudes of effects, if any. To date, no study (that the authors are aware of) has investigated the nature of the transition between EPC bands and price effects. The purpose of this study is to add to the research of the energy efficiency of housing to examine the nature of the likelihood of property characteristics being associated with higher EPC scores and value.

Design/methodology/approach

This research undertakes a suite of methodological tests to investigate the more latent relationships between EPC bands and pricing behaviour using 3,797 achieved sales prices within the Belfast housing market. Binary logit regression models are specified in conjunction with a Polytomous Universal Model to examine the likelihood of EPC bands falling within a particular property type and the likelihood of any pricing effects.

Findings

The findings show the differing property types to comprise very distinct and complex relationships in terms of price and EPC banding. The binary logit model estimations for both terrace properties and apartments reveal an increased likelihood to obtain higher EPC scores, with the semi-detached sector displaying a “mixed effect” with detached property revealing decreased probability of having superior energy performance and decreased likelihood of having poorer energy performance. The ordinal model estimations indicate that sales price comprises no relationship with energy performance, inferring that there is no increased probability of an increase in sales price with higher EPC rating.

Originality/value

This research offers new insights and focus on achieving a better understanding of the nexus between energy performance and property characteristics using alternative modelling approaches. This provides more exploratory insights into the complex relationships and offers awareness for policy discourse in terms of targeting properties which will tend to be poorer in energy efficiency.

Details

Journal of Financial Management of Property and Construction , vol. 25 no. 2
Type: Research Article
ISSN: 1366-4387

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Article
Publication date: 29 March 2021

Andrew R. Gillam and Alina M. Waite

The purpose of this paper is to examine gender differences in predictors of technology threat avoidance motivation and behavior among working US adults. Implications were…

Abstract

Purpose

The purpose of this paper is to examine gender differences in predictors of technology threat avoidance motivation and behavior among working US adults. Implications were considered in regard to cybersecurity awareness training motivation and perceptions of need for protective cybersecurity behavior in the workplace.

Design/methodology/approach

A single-shot regression-based study used ordinal regression supported by K-means clustering to evaluate the moderating effects of gender on predictors of technology threat avoidance motivation and behavior on a sample of n = 206 US adult workers.

Findings

The regression model explained 47.5% of variance in avoidance motivation and 39% of avoidance behavior variance. Gender moderated predictive associations between several independent variables and avoidance motivation: perceived susceptibility, perceived effectiveness, perceived cost and self-efficacy. Gender also moderated the association between avoidance motivation and avoidance behavior.

Research limitations/implications

The predictive impact of gender extends beyond the main effects in technology threat avoidance. Data frequency distributions and inter-variable relationships should be routinely considered in threat avoidance studies, especially if sample variables exhibit non-normal frequency distributions and nonlinear associations.

Practical implications

Gender was significantly associated with threat avoidance motivation and avoidance behavior and exhibited notable associations with antecedents of avoidance motivation. Related insights can inform the design and delivery of training content relating to technology threat avoidance as organizations strive to more effectively leverage information technology end-users as protective assets for the enterprise.

Originality/value

The uniqueness of this study derives from its focus and findings regarding the moderating effects of gender on technology threat avoidance factors and techniques used to measure and evaluate the associations between them.

Details

Information & Computer Security, vol. 29 no. 3
Type: Research Article
ISSN: 2056-4961

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Article
Publication date: 1 March 2006

Donald Samelson, Suzanne Lowensohn and Laurence E. Johnson

Prior research addresses relationships between audit attributes and perceptions of both audit quality and auditee satisfaction in the private sector. This study extends…

Abstract

Prior research addresses relationships between audit attributes and perceptions of both audit quality and auditee satisfaction in the private sector. This study extends such research to local government audits, where audit quality has been questioned. Additionally, this study investigates the effect of auditor size on perceived audit quality and satisfaction. 302 finance directors surveyed positively associated auditor expertise, responsiveness to client, professionalism, understanding of client systems, and study of internal controls with perceived audit quality. Furthermore, auditee satisfaction was positively related to auditor expertise, responsiveness to client, audit manager involvement, understanding of client systems and study of internal controls. Big 5 firms were not associated with higher levels of perceived audit quality or auditee satisfaction, despite charging significantly higher audit fees.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 18 no. 2
Type: Research Article
ISSN: 1096-3367

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Article
Publication date: 4 September 2009

Nicolaus Lundahl, Fatima Vegholm and Lars Silver

The purpose of this study is to investigate the influence of the technical and functional dimensions of service management on customer satisfaction in the bank‐SME relationship.

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3240

Abstract

Purpose

The purpose of this study is to investigate the influence of the technical and functional dimensions of service management on customer satisfaction in the bank‐SME relationship.

Design/methodology/approach

An ordinal logistic regression analysis is used to examine a total of 221 responses to a questionnaire distributed to small and medium‐sized enterprises (SMEs) in Sweden.

Findings

Both the technical and the functional dimensions of service management were shown to correlate with customer satisfaction. Thus, SMEs seem to evaluate their banking relationship not only on the basis of the effectiveness and quality of banks' service outcomes but also on the care and manner in which the bankers deliver services.

Research limitations/implications

The study shows that relationship variables, such as personal interaction is a strong determinant for customer satisfaction in the bank‐SME relationship. Hence, there is a need for banks to focus training on understanding the issues of SMEs on a broader scale rather than solely on the sale of individual products.

Originality/value

The study examines both the technical and functional dimensions of service management in the bank‐SME relationship. Because most researchers treat ordinal scales as continuous variables, stronger conclusions can thus be drawn from the ordinal regression analysis performed here.

Details

Managing Service Quality: An International Journal, vol. 19 no. 5
Type: Research Article
ISSN: 0960-4529

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Article
Publication date: 7 March 2017

Harshini Mallawaarachchi, Lalith De Silva and Raufdeen Rameezdeen

The purpose of the study presented in this paper is to determine the relationship and effect of built environment on occupants’ productivity in green-certified office…

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3335

Abstract

Purpose

The purpose of the study presented in this paper is to determine the relationship and effect of built environment on occupants’ productivity in green-certified office buildings in Sri Lanka.

Design/methodology/approach

Two research hypotheses were tested by approaching the survey method under the quantitative phenomenon. The questionnaire survey was conducted among randomly selected occupants in three selected green-rated office buildings in Sri Lanka. The survey data were analysed by using the Spearman correlation and ordinal logistic regression analysis techniques to model the relationship existing between the variables. The SPSS v20 software was used in data analysis.

Findings

The findings confirm the relationship between built environment and occupants’ productivity. As it further proves that, there is a significant effect of built environment on occupants’ productivity in green-certified office buildings. Thus, critical built environment factors influencing occupants’ productivity and their effect were determined.

Practical implications

The findings could be practically implied as bases to strengthen the evaluation criteria of indoor environmental quality in GREENSL® national green-rating system.

Originality/value

The evaluation of occupants’ productivity and the built environment factors has been at the focal point of research; however, most studies have focused on single aspects of the built environment. Further, no evidences were found on “which factors” can critically influence the occupants’ productivity in green buildings. The paper, therefore, seeks to fill this gap by proving the relationship between green built environment and occupants’ productivity.

Details

Facilities, vol. 35 no. 3/4
Type: Research Article
ISSN: 0263-2772

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