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1 – 10 of over 1000The purpose of this paper is to provide a theoretically rigorous and practically relevant summary of research findings that enables managers to drive sustainable profits…
Abstract
Purpose
The purpose of this paper is to provide a theoretically rigorous and practically relevant summary of research findings that enables managers to drive sustainable profits improvements via pricing. It showcases multiple case studies that demonstrate how companies can achieve higher-than-average profitability by implementing intelligent pricing strategies and tactics.
Design/methodology/approach
Over the past 20 years, this writer has conducted dozens of academic surveys with managers exploring the antecedents, moderators and consequences of pricing practices for existing and new products. The writer has analyzed all pricing research published in leading academic journals over the past decades. Finally, as equity partner of Hinterhuber & Partners, a pricing consultancy (www.hinterhuber.com), this writer – through collaborations with companies and workshops conducted with practicing managers – has collected data and insights on best practices in managing pricing as a strategic activity.
Findings
Pricing is the most powerful driver of superior profits, yet managers view pricing as relevant only in the context of innovation. This narrow view prevents companies from realizing their full potential. Best practice examples of pricing as well as rigorous academic research suggest that pricing based on solid scientific principles helps average companies to achieve above-average results. This paper presents a review of recent research and summarizes the fundamental principles that managers must master so that pricing becomes an enabler of lasting superior performance.
Research limitations/implications
Academic research in pricing surpasses managerial practice. Managers often rely on outdated concepts when it comes to pricing strategy and tactics.
Practical implications
The paper presents a framework that allows managers to implement pricing strategies that improve performance.
Social implications
Effective pricing strategies benefit companies, customers and other stakeholders.
Originality/value
The paper provides a comprehensive overview of the latest research on pricing and thus documents that pricing based on solid, scientific principles is an enable of lasting, above-average profitability.
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Kesuh Jude Thaddeus, Chi Aloysius Ngong, Njimukala Moses Nebong, Akume Daniel Akume, Jumbo Urie Eleazar and Josaphat Uchechukwu Joe Onwumere
The purpose of this paper is to examine key macroeconomic determinants on Cameroon's economic growth from 1970 to 2018.
Abstract
Purpose
The purpose of this paper is to examine key macroeconomic determinants on Cameroon's economic growth from 1970 to 2018.
Design/methodology/approach
Data were obtained from the World Development Indicators and applied on time series data econometric techniques. The auto-regressive distributed lag (ARDL) bounds model analyzed the data since the variables had different order of integration.
Findings
The results showed long and short runs’ positive and significant connection between economic growth in Cameroon and government expenditure; trade openness, gross capital formation and exchange rate. Human capital development, foreign aid, money supply, inflation and foreign direct investment negatively and significantly affected economic growth in the short and long-runs. Hence, the macroeconomic indicators are not death.
Research limitations/implications
The present research paper has tried to capture the impact of nine macroeconomic determinants on economic growth such as the government expenditure (LNGOVEXP), human capital development (LNHCD), foreign aids (AID), trade openness (LNTOP), foreign direct investment (LNFDI), gross capital formation (INVEST), broad money (LNM2), official exchange rate (LNEXHRATE) and Inflation (LNINFLA). However, these variables have the tendency to affect each other in a unidirectional or bidirectional manner. Further, the present research paper is unable to capture the impact of other macroeconomic variable due to the unavailability of data.
Practical implications
The study recommends that Cameroon should use proper planning and strategic policy interventions to achieve higher sustainable economic growth with human capital development, foreign aid, money supply, foreign direct investment and moderate inflation.
Social implications
Macroeconomic indicators, if managed well, increase economic growth.
Originality/value
This paper to the best of the researcher's knowledge presents new background information to both policymakers and researchers on the main macroeconomic determinants using econometric analysis.
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This study aims to examine the impact of housing construction on single-family housing values and the implications for urban development.
Abstract
Purpose
This study aims to examine the impact of housing construction on single-family housing values and the implications for urban development.
Design/methodology/approach
To achieve this objective, the author used the difference-in-difference methodology to examine the effect of multifamily and single-family housing construction on surrounding single-family homes in Stockholm, Sweden. The author analysed data from approximately 480 housing construction projects between 2009 and 2014 and 17,000 single-family detached house transactions between 2005 and 2018.
Findings
The research found that multifamily construction projects did not affect the value of surrounding single-family homes, while single-family home construction had a negative impact. The author attributes this result to single-family housing projects typically located in areas with initially positive externalities, while multifamily housing projects are often located on the edge of areas with negative externalities before construction.
Research limitations/implications
The research is limited by its focus on a specific geographic area and time frame, and future research could expand the scope to include other cities and regions and different periods. Additionally, further research could examine the impact of housing construction on other economic factors beyond housing values.
Practical implications
The research has practical implications for urban planners and policymakers. They should consider the potential negative impact of new single-family home construction on existing single-family housing areas while balancing the need for new housing in urban areas. By carefully evaluating construction locations, policymakers can create more sustainable, livable and equitable urban environments that benefit all members of society.
Originality/value
This research paper contributes to the field of housing economics by examining the impact of housing construction on single-family housing values in the context of urban development and climate change mitigation. Using a difference-in-difference methodology, the study provides evidence of the price effect of multifamily and single-family housing construction on surrounding single-family homes, which has important policy implications for urban planners and policymakers. By identifying the negative impact of single-family home construction on surrounding areas and highlighting the need for careful evaluation of construction locations, the research provides valuable insights for creating sustainable, livable and equitable urban environments that benefit all members of society.
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Faharuddin Faharuddin, M. Yamin, Andy Mulyana and Y. Yunita
Using cross-sectional household survey data, this paper aims to determine the impact of food price increases on poverty in Indonesia.
Abstract
Purpose
Using cross-sectional household survey data, this paper aims to determine the impact of food price increases on poverty in Indonesia.
Design/methodology/approach
This paper uses the quadratic almost ideal demand system applied to the 2013 Indonesian household survey data. The impact of food price increase on household welfare is calculated using a welfare measure, compensating variation.
Findings
Three food groups with the most outstanding price impact on poverty, rice, vegetables and fish, were studied. The 20% increase in the price of each food group causes an increase in the headcount ratio by 1.360 points (rice), 0.737 points (vegetables) and 0.636 points (fish). Maintaining food price stability for these food groups is very important because the more the price increases, the more the impact on poverty. Food price policies in rural areas are also more critical than in urban areas because the impact of food price increases in rural areas is higher.
Research limitations/implications
This paper does not consider the positive impact of rising food prices on food-producing households.
Practical implications
Implementing appropriate poverty alleviation policies through food policies for main food groups and social protection.
Social implications
Promoting rural development policies and agricultural growth.
Originality/value
This paper contributes to the existing literature by providing empirical results regarding the impact of domestic food prices increase on poverty in Indonesia.
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Michael Adesi, Degraft Owusu-Manu, Frank Boateng, Michael Nii Addy and Ernest Kissi
The purpose of this study is to investigate the challenges of pricing quantity surveying (QS) professional services to enhance the understanding of practitioners in developing…
Abstract
Purpose
The purpose of this study is to investigate the challenges of pricing quantity surveying (QS) professional services to enhance the understanding of practitioners in developing strategies for the determination of fees for their services.
Design/methodology/approach
The paper adopts the quantitative approach by administering 150 survey questionnaires QS professionals out of which 79 questionnaires were retrieved for analysis using the mean, standard deviation, standard error and the Chi-Square test.
Findings
The study identified the challenges that continue to hamper the successful pricing of QS services as the inability to respond to changing contractual arrangements; lack of appropriate response to emerging services; slow response to changes in information and communication technology.
Research limitations/implications
This paper focused on QS professionals. Hence, a future study to encompass other professionals in the built environment will be novel.
Practical implications
The findings of this paper have the potential to motivate QS firms to develop solutions that address the challenges identified to improve the efficiency of their service delivery to clients. The paper also has the practical importance of opening up new frontiers of research that focus on pricing of professional services in the built environment in general.
Originality/value
The paper contributes to the awareness and understanding of QS professionals about the challenges that continue to hamper effective pricing of their services.
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Akash Kalra and Munshi Naser Ibne Afzal
For many global firms and corporate oligopolies, transfer pricing is essential. The transfer pricing literature as it is currently written is succinctly summarized in this study…
Abstract
Purpose
For many global firms and corporate oligopolies, transfer pricing is essential. The transfer pricing literature as it is currently written is succinctly summarized in this study. The authors offer a thorough analysis of transfer pricing research in this study. This review sheds light on the top researchers, approaches, conclusions, theoretical and empirical gaps, and upcoming issues of transfer pricing research over the previous nine years through a methodical analysis of 29 research publications from the Scopus database (2014–2022). To help graduate students pursue further degrees in this area, such as a master's, thesis or PhD, this study will highlight five research issues.
Design/methodology/approach
This essay looks at five significant areas of tax avoidance and transfer pricing research. Some of these issues include determining the impact of transfer pricing regulations on various types of multinational corporations, assessing the effectiveness of transfer pricing regulations in preventing tax evasion, examining various policy options and determining the impact of transfer pricing on other economic outcomes using a systematic literature review.
Findings
The findings of this review demonstrate the need for transfer pricing research to look more closely at transfer pricing as a tool for business in addition to compliance and tax management.
Originality/value
This analysis concludes with future directions for transfer pricing research.
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Tianyu Pan, Rachel J.C. Fu and James F. Petrick
This study aims to examine consumer perception during COVID-19 and identifies cruise industry marketing strategies to fill a gap in crisis management and product pricing…
Abstract
Purpose
This study aims to examine consumer perception during COVID-19 and identifies cruise industry marketing strategies to fill a gap in crisis management and product pricing literature.
Design/methodology/approach
This study developed and validated two-factor measurement scales (vaccine perception and protective behavior), which predicted cruise intents well. This study revealed how geo-regional factors affect consumer psychology through spatial analysis.
Findings
This study recommended pricing 7-day cruises at $1,464 (the most preferred length). The results also showed that future price hikes would not affect demand and that coastal marketing would help retain customers.
Originality/value
This study contributed to the business, hospitality and tourism literature by identifying two new and unique factors (vaccine perception and protective behaviors), which were found to affect consumers’ intention to travel by cruise significantly. The result provided a better understanding of cruise tourists’ pricing preferences and the methods utilized could easily be applied to other cruise markets or tourism entities.
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Mamdouh Abdelmoula Mohamed Abdelsalam
This paper aims to explore the extreme effect of crude oil price fluctuations and its volatility on the economic growth of Middle East and North Africa (MENA) countries. It also…
Abstract
Purpose
This paper aims to explore the extreme effect of crude oil price fluctuations and its volatility on the economic growth of Middle East and North Africa (MENA) countries. It also investigates the asymmetric and dynamic relationship between oil price and economic growth. Further, a separate analysis for each MENA oil-export and oil-import countries is conducted. Furthermore, it studies to what extent the quality of institutions will change the effect of oil price fluctuations on economic growth.
Design/methodology/approach
As the effect of oil price fluctuations is not the same over different business cycles or oil price levels, the paper uses a panel quantile regression approach with other linear models such as fixed effects, random effects and panel generalized method of moments. The panel quantile methodology is an extension of traditional linear models and it has the advantage of exploring the relationship over the different quantiles of the whole distribution.
Findings
The paper can summarize results as following: changes in oil price and its volatility have an opposite effect for each oil-export and oil-import countries; for the former, changes in oil prices have a positive impact but the volatility a negative effect. While for the latter, changes in oil prices have a negative effect but volatility a positive effect. Further, the impact of oil price changes and their uncertainty are different across different quantiles. Furthermore, there is evidence about the asymmetric effect of the oil price changes on economic growth. Finally, accounting for institutional quality led to a reduction in the impact of oil price changes on economic growth.
Originality/value
The study concludes more detailed results on the impact of oil prices on gross domestic product growth. Thus, it can be used as a decision-support tool for policymakers.
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Tamara Apostolou, Ioannis N. Lagoudis and Ioannis N. Theotokas
This paper aims to identify the interplay of standard Capesize optimal speeds for time charter equivalent (TCE) maximization in the Australia–China iron ore route and the optimal…
Abstract
Purpose
This paper aims to identify the interplay of standard Capesize optimal speeds for time charter equivalent (TCE) maximization in the Australia–China iron ore route and the optimal speeds as an operational tool for compliance with the International Maritime Organization (IMO) carbon intensity indicator (CII).
Design/methodology/approach
The TCE at different speeds have been calculated for four standard Capesize specifications: (1) standard Capesize with ecoelectronic engine; (2) standard Capesize with non-eco engine (3) standard Capesize vessel with an eco-electronic engine fitted with scrubber and (4) standard Capesize with non-eco engine and no scrubber fitted.
Findings
Calculations imply that in a highly inflationary bunker price context, the dollar per ton freight rates equilibrates at levels that may push optimal speeds below the speeds required for minimum CII compliance (C Rating) in the Australia–China trade. The highest deviation of optimal speeds from those required for minimum CII compliance is observed for non-eco standard Capesize vessels without scrubbers. Increased non-eco Capesize deployment would see optimal speeds structurally lower at levels that could offer CII ratings improvements.
Originality/value
While most of the studies have covered the use of speed as a tool to improve efficiency and emissions in the maritime sector, few have been identified in the literature to have examined the interplay between the commercial and operational performance in the dry bulk sector stemming from the freight market equilibrium. The originality of this paper lies in examining the above relation and the resulting optimal speed selection in the Capesize sector against mandatory environmental targets.
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Robert Mwanyepedza and Syden Mishi
The study aims to estimate the short- and long-run effects of monetary policy on residential property prices in South Africa. Over the past decades, there has been a monetary…
Abstract
Purpose
The study aims to estimate the short- and long-run effects of monetary policy on residential property prices in South Africa. Over the past decades, there has been a monetary policy shift, from targeting money supply and exchange rate to inflation. The shifts have affected residential property market dynamics.
Design/methodology/approach
The Johansen cointegration approach was used to estimate the effects of changes in monetary policy proxies on residential property prices using quarterly data from 1980 to 2022.
Findings
Mortgage finance and economic growth have a significant positive long-run effect on residential property prices. The consumer price index, the inflation targeting framework, interest rates and exchange rates have a significant negative long-run effect on residential property prices. The Granger causality test has depicted that exchange rate significantly influences residential property prices in the short run, and interest rates, inflation targeting framework, gross domestic product, money supply consumer price index and exchange rate can quickly return to equilibrium when they are in disequilibrium.
Originality/value
There are limited arguments whether the inflation targeting monetary policy framework in South Africa has prevented residential property market boom and bust scenarios. The study has found that the implementation of inflation targeting framework has successfully reduced booms in residential property prices in South Africa.
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