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Open Access
Article
Publication date: 12 October 2021

Shengsheng Wang, Bangxi Li and Shan Gu

Different from Marx's analysis of the dialectical relationship between the production and realization of surplus value, the Okishio theorem only shows one aspect of the…

Abstract

Purpose

Different from Marx's analysis of the dialectical relationship between the production and realization of surplus value, the Okishio theorem only shows one aspect of the contradictory movement of the total social capital, that is, the reverse effect of the realization of surplus value on the production of surplus value.

Design/methodology/approach

The production of surplus value and the realization of surplus value are simplified into one process. This simplification eliminates the contradiction between the production and realization of surplus value, and the antagonistic contradiction between accumulation and consumption and the antagonistic production-distribution relationship in capitalist society are naturally covered up.

Findings

Therefore, it cannot explain the actual expansion way of the falling general rate of profit as the historical development law of capitalism. Nevertheless, it should be noted that the Okishio theorem places the analysis of the general rate of profit back into the social reproduction model with department equilibrium, which points out the significance of wage income to the realization of surplus value and outlines the macro mechanism of the realization of surplus value reacting to the production of surplus value. It also strongly promotes the research progress of the law that the profit rate tends to decline.

Originality/value

The mistake of the Okishio theorem is that the exchange process in the labor market forms the real wage rate. It determines the production price of wage goods, which thereby determines that the production price of capital goods and general rate of profit, the production of surplus value and realization of surplus value are simplified into the same process, and only the value that can be realized is the real value.

Details

China Political Economy, vol. 4 no. 1
Type: Research Article
ISSN: 2516-1652

Keywords

Open Access
Article
Publication date: 10 May 2022

Jindong Song, Jingbao Zhu and Shanyou Li

Using the strong motion data of K-net in Japan, the continuous magnitude prediction method based on support vector machine (SVM) was studied.

Abstract

Purpose

Using the strong motion data of K-net in Japan, the continuous magnitude prediction method based on support vector machine (SVM) was studied.

Design/methodology/approach

In the range of 0.5–10.0 s after the P-wave arrival, the prediction time window was established at an interval of 0.5 s. 12 P-wave characteristic parameters were selected as the model input parameters to construct the earthquake early warning (EEW) magnitude prediction model (SVM-HRM) for high-speed railway based on SVM.

Findings

The magnitude prediction results of the SVM-HRM model were compared with the traditional magnitude prediction model and the high-speed railway EEW current norm. Results show that at the 3.0 s time window, the magnitude prediction error of the SVM-HRM model is obviously smaller than that of the traditional τc method and Pd method. The overestimation of small earthquakes is obviously improved, and the construction of the model is not affected by epicenter distance, so it has generalization performance. For earthquake events with the magnitude range of 3–5, the single station realization rate of the SVM-HRM model reaches 95% at 0.5 s after the arrival of P-wave, which is better than the first alarm realization rate norm required by “The Test Method of EEW and Monitoring System for High-Speed Railway.” For earthquake events with magnitudes ranging from 3 to 5, 5 to 7 and 7 to 8, the single station realization rate of the SVM-HRM model is at 0.5 s, 1.5 s and 0.5 s after the P-wave arrival, respectively, which is better than the realization rate norm of multiple stations.

Originality/value

At the latest, 1.5 s after the P-wave arrival, the SVM-HRM model can issue the first earthquake alarm that meets the norm of magnitude prediction realization rate, which meets the accuracy and continuity requirements of high-speed railway EEW magnitude prediction.

Details

Railway Sciences, vol. 1 no. 2
Type: Research Article
ISSN: 2755-0907

Keywords

Open Access
Article
Publication date: 19 November 2018

Mienati Somya Lasmana and Reni Eka Isyatir Rodhiyah

The purpose of this paper is to know the relevance between the changes in non-taxable income with the receipt of Income Tax Article 21, Income Tax Article 25/29, the receipt of…

3539

Abstract

Purpose

The purpose of this paper is to know the relevance between the changes in non-taxable income with the receipt of Income Tax Article 21, Income Tax Article 25/29, the receipt of value added tax and the receipt of luxury sales tax r (PPnBM).

Design/methodology/approach

Changes in non-taxable income have potentially reduced the receipt of Income Tax Article 21, Income Tax Article 25/29 of individual taxpayers, otherwise it increased value added tax and luxury sales tax receipts. This study used the descriptive qualitative approach, by conducting a simple case study based on actual data. Data analysis technique used is descriptive statistics and comparison analysis. Research conducted at the Kantor Wilayah Direktorat Jenderal Pajak Jawa Timur II.

Findings

The results show that the changes of non-taxable income in 2013 and 2015 did not affect the receipt of Income Tax Article 21 but the growth is slowed, while the receipt of Income Tax Article 25/29 increased.

Originality/value

Value added tax and luxury sales tax receipts, increasing every year, slowed down in 2013, but increased higher in 2015.

Details

Asian Journal of Accounting Research, vol. 3 no. 2
Type: Research Article
ISSN: 2443-4175

Keywords

Open Access
Article
Publication date: 19 June 2019

Sherine Al-shawarby and Mai El Mossallamy

This paper aims to estimate a New Keynesian small open economy dynamic stochastic general equilibrium (DSGE) model for Egypt using Bayesian techniques and data for the period…

6535

Abstract

Purpose

This paper aims to estimate a New Keynesian small open economy dynamic stochastic general equilibrium (DSGE) model for Egypt using Bayesian techniques and data for the period FY2004/2005:Q1-FY2015/2016:Q4 to assess monetary and fiscal policy interactions and their impact on economic stabilization. Outcomes of monetary and fiscal authority commitment to policy instruments, interest rate, government spending and taxes, are evaluated using Taylor-type and optimal simple rules.

Design/methodology/approach

The study extends the stylized micro-founded small open economy New Keynesian DSGE model, proposed by Lubik and Schorfheide (2007), by explicitly introducing fiscal policy behavior into the model (Fragetta and Kirsanova, 2010 and Çebi, 2011). The model is calibrated using quarterly data for Egypt on key macroeconomic variables during FY2004/2005:Q1-FY2015/2016:Q4; and Bayesian methods are used in estimation.

Findings

The results show that monetary and fiscal policy instruments in Egypt contribute to economic stability through their effects on inflation, output and debt stock. The monetary policy Taylor rule estimates reveal that the Central Bank of Egypt (CBE) attaches significant importance to anti-inflationary policy and (to a lesser extent) to output targeting but responds weakly to nominal exchange rate variations. CBE decisions are significantly influenced by interest rate smoothing. Egyptian fiscal policy has an important role in output and government debt stabilization. Additionally, the fiscal authority chooses pro-cyclical government spending and counter-cyclical tax policies for output stabilization. Again, past values of the fiscal instruments are influential in the evolution of the future fiscal policy-making process.

Originality/value

A few studies have examined the interaction between monetary and fiscal policy in Egypt within a unified framework. The presented paper integrates the monetary and fiscal policy analysis within a unified dynamic general equilibrium open economy rational expectations framework. Without such a framework, it would not be easy to jointly analyze monetary and fiscal transmission mechanisms for output, inflation and debt. Also, it would be neither possible to contrast the outcome of monetary and fiscal authorities commitment to a simple Taylor instrument rule vis-à-vis optimal policy outcomes nor to assess the behavior of monetary and fiscal agents in macroeconomic stability in context of an active/passive policy decisions framework.

Details

Review of Economics and Political Science, vol. 4 no. 2
Type: Research Article
ISSN: 2631-3561

Keywords

Open Access
Article
Publication date: 14 April 2023

Kenneth Appiah-Nimo, Amukelani Muthambi and Richard Devey

South Africa is the leading market for luxury goods in Africa – a fact evident from the statistics on luxury retail and the expanding footprint of international and local luxury…

3105

Abstract

Purpose

South Africa is the leading market for luxury goods in Africa – a fact evident from the statistics on luxury retail and the expanding footprint of international and local luxury brands. In a market that is dominated by prominent international brands, indigenous South African brands are seldom the subject of empirical research. This study addresses this gap by analysing the consumer-based brand equity (CBBE) of South African luxury fashion brands and its outcomes on the purchase/repurchase intention of consumers of South African luxury fashion brands.

Design/methodology/approach

The study adopted quantitative research methods and utilized survey questionnaires to acquire data from 130 respondents. Structural equation modelling was used in testing the proposed alternative hypotheses.

Findings

The study affirmed the relevance of Aaker's (1991) CBBE model for luxury goods in the emerging economy of South Africa. It established perceived quality and behavioural loyalty as significant predictors of brand equity while affirming the prevalence of hedonism and behavioural loyalty in South Africa's luxury fashion market.

Research limitations/implications

The small sample size and the limited geographic scope of the study had a significant adverse impact on the broad application of the study's outcome. Furthermore, Aaker's (1991) CBBE model, while adequate, may have diminished the probability of a nuanced outcome.

Originality/value

This study advances the frontiers of interdisciplinary research by applying the marketing framework of CBBE to fashion studies in South Africa. The validated measurement scale, which emphasises the relevance of hedonism and behavioural loyalty in South Africa, may be useful for a similar study on luxury fashion brands in other emerging economies.

Details

Journal of Fashion Marketing and Management: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1361-2026

Keywords

Open Access
Article
Publication date: 31 January 2020

Vinícius Rosa Cota, Cleiton Lopes Aguiar, Bezamat de Souza Neto and Miguel Benegas

The purpose of this paper is to argue in favor of the open hardware philosophy (open-source hardware – OSH) as a technological innovation and academic entrepreneurshipmodel in…

1792

Abstract

Purpose

The purpose of this paper is to argue in favor of the open hardware philosophy (open-source hardware – OSH) as a technological innovation and academic entrepreneurshipmodel in Brazil.

Design/methodology/approach

This argument is based on three pillars. The first one refers to a bibliographic review of theoretical frameworks related to academic entrepreneurship and technological innovation to emphasize the disruptive innovation capacity of academia. Second, a few elements related to the Brazilian political, economic and structural scenario, which entail a (more) favorable environment to technological innovation and academic entrepreneurship, is presented. Finally, concepts related to OSH and its business model are approached to demonstrate the facilitating effect toward the whole process.

Findings

As a result of the argument made herein, it is possible to perceive the viability of the OSH model in terms of entrepreneurship and technological innovation in the academic sphere, and to perceive its benefits before social and economic needs in areas such as health and education.

Research limitations/implications

There are no empirical or quantifiable data in the literature that enable comparison between OSH and traditional technological innovation models.

Originality/value

The considerations on the philosophical value of OSH and its business models are scarcely explored in international literature. As far as we know, relating OSH to technological innovation entrepreneurship in the academic sphere, as well as its singularities in Brazil regarding the innovation national system and social and economic demands, is a unique approach in literature.

Details

Innovation & Management Review, vol. 17 no. 2
Type: Research Article
ISSN: 2515-8961

Keywords

Open Access
Article
Publication date: 21 November 2018

Gao Feng

There exist long-term fluctuations in the process of capital accumulation. The economic long wave is an essential part of research into non-mainstream western economics. After the…

4092

Abstract

Purpose

There exist long-term fluctuations in the process of capital accumulation. The economic long wave is an essential part of research into non-mainstream western economics. After the Second World War, the capitalist world experienced the fourth long wave of expansion and then entered into a downward phase of the long wave in the 1970s. Regarding to whether a new long wave of expansion took place in the 1980s, left-wing scholars hold different viewpoints. The purpose of this paper is to focus on this issue.

Design/methodology/approach

First, based on the review of the long wave history, this paper discusses three kinds of long wave theories with significant influence and puts forward the theoretical framework of analyzing the long wave of capitalist economy. Next, under the guidance of this theoretical framework and in combination with the actual development and evolution of the capitalist economy, the issue of whether the fifth long wave of the capitalist economy began to emerge in the 1980s is discussed deeply.

Findings

This paper argues that, from the early 1980s to 2007, the US-dominated developed countries experienced a new long wave of expansion driven by the information technology revolution, the adjustment of the neoliberalism system and the economic globalization. However, the financial-economic crisis of 2008–2009 led to a new phase of long wave downswing.

Originality/value

This paper does not agree with the single-factor analysis of the intrinsic formation mechanism of economic long wave and sticks to the multi-factor analysis centering on the fluctuation of accumulation rate. It is pointed out that the evolution of the long wave of capitalist economy depends on the combined influence of technology, institutions and market. The study of the long wave of the economy will help us to correctly understand the historical stage and characteristics of the current world capitalist economy in the long-term fluctuations, so that we can make an appropriate and positive response.

Details

China Political Economy, vol. 1 no. 2
Type: Research Article
ISSN: 2516-1652

Keywords

Open Access
Article
Publication date: 28 June 2021

Adalgisa Battistelli, Carlo Odoardi, Nicola Cangialosi, Gennaro Di Napoli and Luciano Piccione

This study aims to explore whether expected image outcomes (risk and gain) represent a mechanism through which perceived organizational climates, in the dimensions of tradition…

2947

Abstract

Purpose

This study aims to explore whether expected image outcomes (risk and gain) represent a mechanism through which perceived organizational climates, in the dimensions of tradition and reflexivity, affect key components of the innovation process (idea generation and idea realization).

Design/methodology/approach

Structural equation models have been conducted to empirically analyse 3 waves of longitudinal survey data from an Italian military organization (N = 410).

Findings

Results confirmed that image outcome expectations mediated the effects of perceived climate on idea generation, and that a serial mediation of image expectations and idea generation those on idea realization. Additionally, reflexivity was directly associated with idea generation.

Practical implications

The findings offer guidance for organizations that aim to strengthen employee-driven innovation, highlighting the importance of organizational climate and image outcomes expectations.

Originality/value

Advancing from existing organizational behaviour and individual innovation literature, this article contributes to extend knowledge about the role of organizational climate and image outcome expectations in enhancing innovative work behaviours.

Details

European Journal of Innovation Management, vol. 25 no. 6
Type: Research Article
ISSN: 1460-1060

Keywords

Open Access
Article
Publication date: 6 June 2018

Johannes Strobel, Kevin D. Salyer and Gabriel S. Lee

The purpose of this paper is to analyze the credit channel effects on investment behavior for the US and the Euro area.

1195

Abstract

Purpose

The purpose of this paper is to analyze the credit channel effects on investment behavior for the US and the Euro area.

Design/methodology/approach

This paper uses the dynamic stochastic general equilibrium model and calibrates a version of the Carlstrom and Fuerst’s (1997) agency cost model of business cycles with time-varying uncertainty in the technology shocks that affect capital production. To highlight the differences between the US and European financial sectors, the paper focuses on two key components of the lending channel: the risk premium associated with bank loans and the bankruptcy rates.

Findings

This paper shows that the effects of minor differences in the credit market translate into large, persistent and asymmetric fluctuations in real and financial variables and depend on the type of shocks. The results imply that the Euro areas supply elasticities for capital are less elastic than that of the USA following a technology shock. Finally, the authors find that the adverse impact of uncertainty shocks is heterogeneous across countries and amplified by the steady-state bankruptcy rate and risk premium.

Originality/value

This paper quantifies the effects of uncertainty shocks when there is a credit channel due to asymmetric information between lenders and borrowers for the Euro area countries, and then compares the results to that of the USA. This paper shows that financial accelerator mechanism could potentially play a significant role in business cycles in the Euro area. This result directly lends one to conclude the following: the credit channel that affects the financial sector does indeed matter for macroeconomic behavior, and that policy makers should be attentive in smoothing out uncertainties if the economic policies are to lower the business and financial cycle volatilities.

Details

Journal of Asian Business and Economic Studies, vol. 25 no. 1
Type: Research Article
ISSN: 2515-964X

Keywords

Open Access
Article
Publication date: 31 May 2023

Antti Ylä-Kujala, Damian Kedziora, Lasse Metso, Timo Kärri, Ari Happonen and Wojciech Piotrowicz

Robotic process automation (RPA) has recently emerged as a technology focusing on the automation of repetitive, frequent, voluminous and rule-based tasks. Despite a few practical…

1714

Abstract

Purpose

Robotic process automation (RPA) has recently emerged as a technology focusing on the automation of repetitive, frequent, voluminous and rule-based tasks. Despite a few practical examples that document successful RPA deployments in organizations, evidence of its economic benefits has been mostly anecdotal. The purpose of this paper is to present a step-by-step method to RPA investment appraisal and a business case demonstrating how the steps can be applied to practice.

Design/methodology/approach

The methodology relies on design science research (DSR). The step-by-step method is a design artefact that builds on the mapping of processes and modelling of the associated costs. Due to the longitudinal nature of capital investments, modelling uses discounted cashflow and present value methods. Empirical grounding characteristic to DSR is achieved by field testing the artefact.

Findings

The step-by-step method is comprised of a preparatory step, three modelling steps and a concluding step. The modelling consists of compounding the interest rate, discounting the investment costs and establishing measures for comparison. These steps were applied to seven business processes to be automated by the case company, Estate Blend. The decision to deploy RPA was found to be trivial, not only based on the initial case data, but also based on multiple sensitivity analyses that showed how resistant RPA investments are to changing circumstances.

Practical implications

By following the provided step-by-step method, executives and managers can quantify the costs and benefits of RPA. The developed method enables any organization to directly compare investment alternatives against each other and against the probable status quo where many tasks in organizations are still carried out manually with little to no automation.

Originality/value

The paper addresses a growing new domain in the field of business process management by capitalizing on DSR and modelling-based approaches to RPA investment appraisal.

Details

Business Process Management Journal, vol. 29 no. 8
Type: Research Article
ISSN: 1463-7154

Keywords

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