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Article
Publication date: 19 February 2018

Madalasa Venkataraman, Venkatesh Panchapagesan and Ekta Jalan

The purpose of this paper is to examine whether internet search intensity, as captured by Google’s search volume index (SVI), predicts house price changes in an emerging market…

Abstract

Purpose

The purpose of this paper is to examine whether internet search intensity, as captured by Google’s search volume index (SVI), predicts house price changes in an emerging market like India.

Design/methodology/approach

Using data on Google’s SVI for four Indian cities and their corresponding house price index values, the authors examine whether abnormal SVI (growth in search intensity normalized by the national average) impacts abnormal house prices (house price change normalized by the national average).

Findings

Like developed markets such as the USA, the authors find that internet search intensity strongly predicts future house price changes. A simple rebalancing strategy of buying a representative house in the city with the greatest change in search intensity and selling a representative house in the city with the smallest change in search intensity each quarter yields an annualized excess (over risk-free government T-bills) return of 4 percent.

Originality/value

Emerging markets have low internet penetration and high information asymmetry with a dominant unorganized real estate market. The results are interesting as it sheds light on the nature and role of the internet as an infomediary even in emerging markets

Details

Property Management, vol. 36 no. 1
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 13 February 2017

Luitzen de Boer

The purpose of this paper is to present three heuristics for choosing supplier selection criteria. By considering the balance between the expected relative effort and benefit of…

2039

Abstract

Purpose

The purpose of this paper is to present three heuristics for choosing supplier selection criteria. By considering the balance between the expected relative effort and benefit of using different selection criteria, the heuristics suggest which criteria should be prioritized. The heuristics serve to develop our understanding of the search and evaluation heuristics used in supplier selection and to facilitate further research.

Design/methodology/approach

The research is primarily theoretical, yet draws on empirical studies of supplier selection. The theoretical basis is Simon’s notion of procedural rationality (Simon, 1976). The author makes the general notion of procedural rationality more concrete for supplier selection by formally describing three heuristics for choosing selection criteria. The heuristics share the same logic but differ in terms of the precision of the input information required from the purchaser. The paper provides illustrations of the heuristics.

Findings

It appears that procedural rationality can be specified for the process of designing the supplier selection process by explicitly recognizing the cost and value of selection criteria. There is no one way of doing this, but at the most basic level, it requires an ordinal ranking of criteria. Already such a rudimentary, qualitative, assessment can help identifying suitable criteria. The heuristics developed appear compatible with established approaches for the subsequent selection of suppliers.

Originality/value

The paper addresses the early stage of supplier selection which has been largely ignored in the literature.

Details

Management Decision, vol. 55 no. 1
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 14 May 2019

Sitikantha Parida

The purpose of this paper is to investigate the impact of competition in financial markets on the frequency of portfolio disclosures by mutual funds and its implications for…

Abstract

Purpose

The purpose of this paper is to investigate the impact of competition in financial markets on the frequency of portfolio disclosures by mutual funds and its implications for consumer search costs.

Design/methodology/approach

The empirical analysis merges the Center for Research in Security Prices (CRSP) survivorship bias-free mutual fund database, the Thompson Financial CDA/ Spectrum holdings database and the CRSP stock price data. The sample covers the time period between 1993 and 2010 and OLS and logistic regressions are used to investigate the impact of competition on fund disclosures.

Findings

This paper finds that mutual fund disclosures decrease with market competition and this effect is amplified for funds holding illiquid assets. These results provide empirical support for the findings of Carlin et al. (2102). Mutual funds use portfolio disclosures as a marketing tool to attract investments in a tournament-like market, where superior relative performance and greater visibility are rewarded with convex payoffs. With competition, the likelihood of receiving new investments decreases for each fund and funds respond by reducing costly voluntary disclosures. The disclosure costs are higher for funds holding illiquid assets, and hence, the effect is stronger for them.

Originality/value

This paper has important policy implications for disclosures in a market where relative performance matters. The traditional view is that competition induces voluntary disclosure because entities would like to differentiate themselves from competitors, and hence, competition should increase market transparency. However, this paper sheds light on the negative consequence of competition in a tournament-like mutual fund market.

Details

Review of Accounting and Finance, vol. 18 no. 2
Type: Research Article
ISSN: 1475-7702

Keywords

Book part
Publication date: 17 December 2003

Michael Doane, Kenneth Hendricks and R.Preston McAfee

The Internet has enabled consumers to act as their own travel agents and to verify independently the accuracy of the information provided by airlines through the CRSs and travel…

Abstract

The Internet has enabled consumers to act as their own travel agents and to verify independently the accuracy of the information provided by airlines through the CRSs and travel agents. As a result, the relationships between consumers and the suppliers of air-travel information have been radically altered, and we document these changes. We identify the relevant market for air-travel information, which includes CRSs, online travel agencies, and the websites and call centers of individual carriers. We determine market concentration and market shares using the Herfindhal-Hirschman Index. Based on our analysis, we argue that there is no longer any need to regulate independent CRSs. However, airlines that own CRSs continue to have an incentive to withdraw their flight and fare information from rival CRSs and, to prevent this from happening, the mandatory participation rule adopted in 1992 should be maintained.

Details

Organizing the New Industrial Economy
Type: Book
ISBN: 978-0-76231-081-4

Abstract

Details

Structural Models of Wage and Employment Dynamics
Type: Book
ISBN: 978-0-44452-089-0

Article
Publication date: 30 October 2009

Dipayan Biswas and Bidisha Burman

The purpose of this paper is to examine how a product‐related variable like digitalization and a market‐related variable like price dispersion might differentially influence…

3268

Abstract

Purpose

The purpose of this paper is to examine how a product‐related variable like digitalization and a market‐related variable like price dispersion might differentially influence consumer search intentions across offline versus online shopping interfaces, and how this relationship might be mediated by consumers' perceived risks. Prior research findings are extended and examines how the perceived risk – search intention relationship might be different in online contexts. The distinction is drawn between perceived performance risk versus perceived transaction risk and examines how each of these risks would differentially influence search intentions across the two shopping interfaces (offline versus online).

Design/methodology/approach

Two experimental studies are conducted.

Findings

Study 1 shows that under conditions when perceived performance risks are enhanced, such as for non‐digitalized (versus digitalized) products, consumers' search intentions are enhanced, with the effects getting magnified in online shopping interfaces. In Study 2, the effects of a condition are examined when instead of performance risks, transaction risks are enhanced by a market‐related variable – price dispersion. The results of Study 2 show that when there is higher price dispersion in the marketplace, in the offline environment, participants have higher search intentions, while in the online environment, participants have lower search intentions. In addition, the effects of price dispersion on search intention in the online environment are mediated by perceived transaction risk.

Originality/value

Limitations of the studies suggest that future research may extend these findings to include non‐student samples, differential search costs, customer‐related factors like trust and involvement, other types of risks like social and psychological, social networking sites, and multichannel search behaviors.

Details

Journal of Product & Brand Management, vol. 18 no. 7
Type: Research Article
ISSN: 1061-0421

Keywords

Article
Publication date: 22 September 2022

Hauke Wetzel, Christina Haenel and Alexandra Claudia Hess

Profitability considerations lead service providers to terminate service contracts with low-value customers. However, customers targeted by service contract terminations often…

Abstract

Purpose

Profitability considerations lead service providers to terminate service contracts with low-value customers. However, customers targeted by service contract terminations often take revenge through negative word-of-mouth (NWOM). Presently, it is unclear how service contract termination initiatives prevent this harmful side effect. The purpose of this study is to compare the effectiveness of common service contract termination initiatives for reducing NWOM of customers whose service contracts are being cancelled. The study results provide guidance for minimizing the downside of service contract termination.

Design/methodology/approach

This study distinguishes between service contract termination initiatives common in practice (preannouncement, explanation, financial compensation, apology and support in finding an alternative provider). Drawing on a multi-industry survey of 245 customers who have experienced service contract terminations in real life, the authors estimate regression models to link perceived service contract termination initiatives to NWOM.

Findings

All else equal, only preannouncement and support in finding an alternative are effective to reduce NWOM. This study also shows that the right choice of service contract termination initiatives depends on the context of the termination. Making a preannouncement, offering an explanation and providing support in finding an alternative are more effective in reducing NWOM when these actions are aligned with the contextual factors of relationship duration and competitive intensity.

Research limitations/implications

This study shows that service contract termination needs to address several aspects of the service termination experience. The key implication for future research is that it matters in terms of NWOM how service contract terminations are performed.

Practical implications

This research identifies the service contract termination initiatives that are most effective to reduce NWOM after service contract termination in general and under consideration of the moderating roles of relationship duration and competitive intensity.

Originality/value

While most related studies have considered customer responses to the cancellation of other customers’ contracts, this study contributes to the scarce literature on the undesirable customer responses (such as NWOM) to the termination of their own contract. To the best of the authors’ knowledge, it is the first study in this emerging stream of research that accounts for the effects of process- and outcome-oriented contract termination initiatives on NWOM. To the best of the authors’ knowledge, it is also the first study to account for moderators of the effect of contract termination initiatives on NWOM, namely, relationship duration and competitive intensity.

Article
Publication date: 1 May 1999

Troy J. Strader and Michael J. Shaw

In this paper we address research issues related to the economics of electronic, Internet‐based markets. First, what are the consumer cost‐based differences for traditional and…

2628

Abstract

In this paper we address research issues related to the economics of electronic, Internet‐based markets. First, what are the consumer cost‐based differences for traditional and electronic markets? Second, what revenue implications does increased electronic market utilization have for sellers and transaction intermediaries? Based on an empirical, survey‐based study of an electronic market in the sports trading card industry we find that prices, search costs, and sales taxes are lower in the electronic markets, while risk costs, distribution costs, and market costs are lower in traditional markets. We discuss the implications this has for seller, intermediary and government revenue sources.

Details

Internet Research, vol. 9 no. 2
Type: Research Article
ISSN: 1066-2243

Keywords

Open Access
Article
Publication date: 12 September 2019

Jochen Wirtz, Kevin Kam Fung So, Makarand Amrish Mody, Stephanie Q. Liu and HaeEun Helen Chun

The purpose of this paper is to examine peer-to-peer sharing platform business models, their sources of competitive advantage, and the roles, motivations and behaviors of key…

32175

Abstract

Purpose

The purpose of this paper is to examine peer-to-peer sharing platform business models, their sources of competitive advantage, and the roles, motivations and behaviors of key actors in their ecosystems.

Design/methodology/approach

This paper uses a conceptual approach that is rooted in the service, tourism and hospitality, and strategy literature.

Findings

First, this paper defines key types of platform business models in the sharing economy anddescribes their characteristics. In particular, the authors propose the differentiation between sharing platforms of capacity-constrained vs capacity-unconstrained assets and advance five core properties of the former. Second, the authors contrast platform business models with their pipeline business model counterparts to understand the fundamental differences between them. One important conclusion is that platforms cater to vastly more heterogeneous assets and consumer needs and, therefore, require liquidity and analytics for high-quality matching. Third, the authors examine the competitive position of platforms and conclude that their widely taken “winner takes it all” assumption is not valid. Primary network effects are less important once a critical level of liquidity has been reached and may even turn negative if increased listings raise friction in the form of search costs. Once a critical level of liquidity has been reached, a platform’s competitive position depends on stakeholder trust and service provider and user loyalty. Fourth, the authors integrate and synthesize the literature on key platform stakeholders of platform businesses (i.e. users, service providers, and regulators) and their roles and motivations. Finally, directions for further research are advanced.

Practical implications

This paper helps platform owners, service providers and users understand better the implications of sharing platform business models and how to position themselves in such ecosystems.

Originality/value

This paper integrates the extant literature on sharing platforms, takes a novel approach in delineating their key properties and dimensions, and provides insights into the evolving and dynamic forms of sharing platforms including converging business models.

Details

Journal of Service Management, vol. 30 no. 4
Type: Research Article
ISSN: 1757-5818

Keywords

Article
Publication date: 14 June 2013

Atsushi Keyaki, Jun Miyazaki, Kenji Hatano, Goshiro Yamamoto, Takafumi Taketomi and Hirokazu Kato

The purpose of this paper is to propose methods for fast incremental indexing with effective and efficient query processing in XML element retrieval. The effectiveness of a search

Abstract

Purpose

The purpose of this paper is to propose methods for fast incremental indexing with effective and efficient query processing in XML element retrieval. The effectiveness of a search system becomes lower if document updates are not handled when these occur frequently on the Web. The search accuracy is also reduced if drastic changes in document statistics are not managed. However, existing studies of XML element retrieval do not consider document updates, although these studies have attained both effectiveness and efficiency in query processing. Thus, the authors add a function for handling document updates to the existing techniques for XML element retrieval.

Design/methodology/approach

Though it will be important to enable fast updates of indices, preliminary experiments have shown that a simple incremental update approach has two problems: some kinds of statistics are inaccurate, and it takes a long time to update indices. Therefore, two methods are proposed: one to approximate term weights accurately with a small number of documents, even for dynamically changing statistics; and the other to eliminate unnecessary update targets.

Findings

Experimental results show that this proposed system can update indices up to 32 per cent faster than the simple incremental updates while the search accuracy improved by 4 per cent compared with the simple approach. The proposed methods can also be fast and accurate in query processing, even if document statistics change drastically.

Originality/value

The paper shows that there could be a more practical XML element search engine, which can access the latest XML documents accurately and efficiently.

Details

International Journal of Web Information Systems, vol. 9 no. 2
Type: Research Article
ISSN: 1744-0084

Keywords

11 – 20 of over 73000