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Open Access
Article
Publication date: 13 February 2024

Seungjae Shin

The purpose of this study is to compare the competition and productivity of the US freight rail transportation industry for the past 41 years (1980 ∼ 2020), which consists of the…

139

Abstract

Purpose

The purpose of this study is to compare the competition and productivity of the US freight rail transportation industry for the past 41 years (1980 ∼ 2020), which consists of the two periods, before and after the abolishment of the Interstate Commerce Commission (ICC) in 1995.

Design/methodology/approach

This study investigates any relationships between the market concentration index values and labor productivity values in the separate two periods, and how the existence of a regulatory body in the freight transportation market impacted the productivity of the freight rail transportation industry by using a Cobb–Douglas production function on annual financial statement data from the US stock exchange market.

Findings

This study found that, after the abolishment of the ICC: (1) the rail industry became less competitive, (2) even if the rail industry had an increasing labor productivity trend, there was a strong negative correlation between the market concentration index and labor productivity and (3) the rail industry’s total factor productivity was decreased.

Originality/value

This study is to find empirical evidence of the effect of the ICC abolishment on the competition and productivity levels in the US freight rail transportation industry using a continuous data set of 41-year financial statements, which is unique compared to previous studies.

Details

Journal of International Logistics and Trade, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1738-2122

Keywords

Open Access
Article
Publication date: 16 August 2019

Syed Marwan and Mohamed Aslam Haneef

The purpose of this paper is to examine the world’s first social impact bond (SIB) and the lessons that can be learned for the Islamic finance industry to fulfil its true…

2615

Abstract

Purpose

The purpose of this paper is to examine the world’s first social impact bond (SIB) and the lessons that can be learned for the Islamic finance industry to fulfil its true objectives.

Design/methodology/approach

The Peterborough SIB was recently announced to be successful in achieving its targeted social and investment outcomes, reducing recidivism by 9 per cent and paying back investors a 3 per cent pa return. The paper compares Peterborough SIB with socially responsible investment (SRI) sukuk in terms of form and substance, and finds that there are various lessons from the Peterborough SIB that can be useful for future development of Islamic financial products.

Findings

Innovative social financial tools such as SIB exemplify the true spirit of risk sharing and social responsibility, which is arguably missing in current practices of the Islamic finance industry. With the growing interest towards SRI strategies and increase in socially motivated investors, such financial tools may not only help the sustainable growth of the Islamic finance industry, but also fill in the gap between its theory and practice.

Practical implications

As such, the paper also proposes a social impact sukuk model which integrates the key aspects learned from Peterborough SIB. This includes prioritising social impact, measurable success indicators, data and management systems, flexible contracts, third sector integration, risk sharing and fostering the culture of innovation.

Originality/value

The findings can offer some practical insights in dealing with the issue of Islamic finance practice being overly concerned with its formal adherence with Islamic legal rules whilst neglecting its true fundamental values.

Details

Islamic Economic Studies, vol. 27 no. 1
Type: Research Article
ISSN: 1319-1616

Keywords

Open Access
Article
Publication date: 23 August 2022

Stefan Tscharaktschiew and Felix Reimann

Recent studies on commuter parking in an age of fully autonomous vehicles (FAVs) suggest, that the number of parking spaces close to the workplace demanded by commuters will…

Abstract

Purpose

Recent studies on commuter parking in an age of fully autonomous vehicles (FAVs) suggest, that the number of parking spaces close to the workplace demanded by commuters will decline because of the capability of FAVs to return home, to seek out (free) parking elsewhere or just cruise. This would be good news because, as of today, parking is one of the largest consumers of urban land and is associated with substantial costs to society. None of the studies, however, is concerned with the special case of employer-provided parking, although workplace parking is a widespread phenomenon and, in many instances, the dominant form of commuter parking. The purpose of this paper is to analyze whether commuter parking will decline with the advent of self-driving cars when parking is provided by the employer.

Design/methodology/approach

This study looks at commuter parking from the perspective of both the employer and the employee because in the case of employer-provided parking, the firm’s decision to offer a parking space and the incentive of employees to accept that offer are closely interrelated because of the fringe benefit character of workplace parking. This study develops an economic equilibrium model that explicitly maps the employer–employee relationship, considering the treatment of parking provision and parking policy in the income tax code and accounting for adverse effects from commuting, parking and public transit. This study determines the market level of employer-provided parking in the absence and presence of FAVs and identifies the factors that drive the difference. This study then approximates the magnitude of each factor, relying on recent (first) empirical evidence on the impacts of FAVs.

Findings

This paper’s analysis suggests that as long as distortive (tax) policy favors employer-provided parking, FAVs are no guarantee to end up with less commuter parking.

Originality/value

This study’s findings imply that in a world of self-driving cars, policy intervention related to work commuting (e.g. fringe benefit taxation or transport pricing) might be even more warranted than today.

Details

Journal of Intelligent and Connected Vehicles, vol. 5 no. 3
Type: Research Article
ISSN: 2399-9802

Keywords

Open Access
Article
Publication date: 30 May 2023

Olusegun Emmanuel Akinwale, Owolabi Lateef Kuye and Olayombo Elizabeth Akinwale

Brain-drain insurgency has become pervasive amongst professionals and the last option for everyone in the country to realise a sustainable quality of work-life (QWL). All youths…

1493

Abstract

Purpose

Brain-drain insurgency has become pervasive amongst professionals and the last option for everyone in the country to realise a sustainable quality of work-life (QWL). All youths now in the country have perceived migrating to the international workspace as a noble idea. This study investigates the incidence of brain-drain and QWL amongst academics in Nigerian universities.

Design/methodology/approach

To sparkle a clearer understanding concerning factors preventing the QWL amongst Nigeria's lecturers, this study utilised a cross-sectional research design to survey the participants across all departments in federal institutions through an explanatory research approach. This study applied an array of adapted scales to evaluate members of academic staff track of what provoked the incidence of brain-drain amongst Nigerian lecturers and possible influence on their QWL. The study surveyed 431 members of academic staff in Nigerian universities to collect useful data and employed a structural equation model (SEM) to analyse the obtained data.

Findings

The outcome of this study highlights that there is a horrible condition of service amongst Nigerian lecturers, a poor compensation system, poor academic research funding and lack of autonomy are bane to the QWL experienced in Nigerian tertiary institutions today. This study indicates that poor staff development and inadequate university funding are part of the justification that provoked brain-drain insurgence, and allowed the government to lose their skilled and competent egg-heads in the university to other foreign nations of the world.

Originality/value

This study demonstrated that brain-drain has become part of Nigeria's national life given that all professionals are seeking better life where their skills, competence and energy would be valued. Brain-drain was not common until these days amongst academics and fewer studies were noted but this study showed a novel paradigm regarding the QWL and brain-drain trajectory.

Open Access
Article
Publication date: 23 November 2020

Oluwaseyi Popogbe and Oluyemi Theophilus Adeosun

Human capital flight from Nigeria to developed countries has remained a topical issue. This paper aims to empirically analyze the push factors for the migrants who explore the…

4497

Abstract

Purpose

Human capital flight from Nigeria to developed countries has remained a topical issue. This paper aims to empirically analyze the push factors for the migrants who explore the various legal migrant schemes from a macro perspective. The authors examine human capital development and its role in contributing to human capital flight to more developed counties.

Design/methodology/approach

This paper is anchored on the push–pull model. Using secondary data from 1990 to 2019, the authors look at the relationship between human capital flight and variables such as life expectancy, infant mortality rate, population growth rate and Nigeria’s unemployment rate. The auto-regressive lag model (ARDL) was adopted to estimate the empirical relationship among these variables.

Findings

The results from the ARDL model suggest a positive relationship exists between population growth rate and migration rate. A negative relationship was, however, observed between life expectancy and migration rate. This study also found that an increase in the infant mortality rate negatively impacted migration significantly. Therefore, an increase in infant mortality rate lowered the migration rate. Finally, an increase in the unemployment rate increased migration; however, insignificantly.

Research limitations/implications

The findings from this study are limited to the push factors influencing migration out of Nigeria. These factors are also restricted to variables for which data can be derived under the study’s scope. The results of this study have far-reaching implications, especially for policymakers and citizens alike. Better human capital development through enhanced life expectancy and reduced population in Nigeria will reduce the migration rate. Therefore, this study calls for the doubling of developmental and infrastructural efforts at all levels of governance.

Originality/value

This paper’s importance lies in its ability to elucidate push factors that influenced migration out of Nigeria empirically. An empirical approach to the subject matter will explain these factors and the degree to which they influence migration. This will guide the policy-making process in curbing brain drain, which is a major challenge in Nigeria.

Details

Journal of Humanities and Applied Social Sciences, vol. 4 no. 1
Type: Research Article
ISSN:

Keywords

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