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This study aims to provide a framework for assessing the technical condition of a house to determine its market value, including the identification of other price-setting factors and their statistical significance. Time on market (TOM) in relation to the technical condition of a house is also addressed.

The primary database contains 631 houses, and the initial asking price and selling price are examined. All the houses are located in the Brno–venkov district in the Czech Republic. Regression analysis was used to test the influence of price-setting factors. The standard ordinary least squares estimator and the maximum likelihood estimator were used in the frame of generalized linear models.

Using envelope components of houses separately, such as the façade condition, windows, roof, condition of interior and year of construction, brings better results than using a single factor for the technical condition. TOM was found to be 67 days lower for houses intended for demolition – as compared to new houses – and 18 days lower for houses to refurbishment.

To the best of the authors’ knowledge, this paper is original in the substitution of specific price-setting factors for factors relating to the technical condition of houses as well as in proposing the framework for professionals in the Czech Republic.

In this study the authors aim to outline new ways of information extraction for automated valuation models, which in turn would help to increase transparency in valuation procedures and thus contribute to more reliable statements about the value of real estate.

The authors hypothesize that empirical error in the interpretation and qualitative assessment of visual content can be minimized by collating the assessments of multiple individuals and through use of repeated trials. Motivated by this problem, the authors developed an experimental approach for semi-automatic extraction of qualitative real estate metadata based on Comparative Judgments and Deep Learning. The authors evaluate the feasibility of our approach with the help of Hedonic Models.

The results show that the collated assessments of qualitative features of interior images show a notable effect on the price models and thus over potential for further research within this paradigm.

To the best of the authors’ knowledge, this is the first approach that combines and collates the subjective ratings of visual features and deep learning for real estate use cases.

The purpose of this paper is to contribute to the theory and practice of supply chain management in terms of how an organisation should structure its supply base to be resilient to supply uncertainties and disruptions. An empirical assessment of supplier response diversity is demonstrated, and the following research question posed: Is response diversity of suppliers positively associated with supply chain resilience, more positively than mere supplier diversity is?

Resilience is operationalised as the maintenance of sales of two food products in 27 southern Finnish retail stores during two distinct disruptions. Response diversity is operationalised as 1) diversity in the personnel sizes of slaughterhouse suppliers of pork under domestic strikes and as 2) evenness in the proportions of imports and domestic supply of food oil under global price volatility. A five-step quantitative assessment is performed.

Response diversity is positively related to the maintenance of sales, more positively than diversity of individual suppliers is.

Response diversity is an advancement to the theory of supply chain resilience and supply base management, and access to big data increases practical potential.

Empirical assessments of response diversity of suppliers provide buyer companies an effective means to enhance their supply base management for resilience.

The proposed approach is useful for teaching and for authorities to enhance food security.

This first assessment of response diversity of supply chain operations presents an important advancement in the theory and practice of supply base management for resilience.

This study aims to analyze the contribution of business angels (BAs), defined as wealthy individuals who provide risk capital to entrepreneurial firms without family connections, in Estonia, an emerging country in Eastern Europe.

This study compared the data of the financial and non-financial performance of BA-backed firms with that of “twin” non-BA-backed firms, extracted from all Estonian unlisted firms using propensity score matching.

The results of the comparative analysis showed that BAs were patient enough to allow their investees to spend for future growth rather than squeezing profit from increased sales. This is not patience without options for a BA in a situation in which the investee's sales are deteriorating, but rather deliberate patience in the presence of options for a BA where the investee's sales growth is increasing, contrary to conventional investor behavioral principles. It also showed that BAs' post-investment involvement did not make a direct contribution to their investees' sales, although BAs contributed to the sales increase through BA funding itself.

This study has two unique research contributions. First, it shows that the patience of BAs was not a by-product but was intentional, and adds to the debate on whether BAs are patient investors. Second, there are only a few studies on the contribution of BAs to their investees in emerging countries; this study aims to help fill this research gap using the case of Estonia.

The purpose of this study is to introduce a matching function approach to analyze matching in financial reporting.

The matching function is first analyzed analytically. It is specified as a multiplicative Cobb-Douglas-type function of three categories of expenses (labor expense, material expense and depreciation). The specified matching function is solved by the generalized reduced gradient method (GRG) for 10-year time series from 8,226 Finnish firms. The coefficient of determination of the logarithmic model (CODL) is compared with the linear revenue-expense correlation coefficient (REC) that is generally used in previous studies.

Empirical evidence showed that REC is outperformed by CODL. CODL was found independent of or weakly negatively dependent on the matching elasticity of labor expense, positively dependent on the material expense elasticity and negatively dependent on depreciation elasticity. Therefore, the differences in matching accuracy between industries emphasizing different expense categories are significant.

The matching function is a general approach to assess the matching accuracy but it is in this study specified multiplicatively for three categories of expenses. Moreover, only one algorithm is tested in the empirical estimation of the function. The analysis is concentrated on ten-year time-series of a limited sample of Finnish firms.

The matching function approach provides a large set of important information for considering the matching process in practice. It can prove a useful method also to accounting standard-setters and other specialists such as managers, consultants and auditors.

This study is the first study to apply the new matching function approach.

The Bass model was created to analyse the product life cycle (PLC) in order to help sales and marketing departments in their business decision making. The purpose of this paper is to analyse the diferences between the clients assisted and sales variables, to discover which of the two variables is the more useful for the estimation of the PLC phases through the Bass model, thus aiding the managers of company sales and marketing departments.

In this research, the authors analysed the 223,577 clients assisted by a nationwide network of car dealerships, who acquired 36,819 vehicles, during a 24-month period. In the analysis, the Bass model was applied to define the PLC phases; and nonlinear regression models were used to carry out the estimations.

The results show that more consistent estimates of the PLC phases are obtained from the clients assisted variable. This work has theoretical and practical implications that can help business management.

The most remarkable thing about this research is that we have shown that the functionality of the clients assisted variable is greater than the sales variable for the Bass model and, therefore, for PLC estimation.

The results of this research are very useful, since they allow marketing decision makers to obtain more consistent estimations of the PLC phases using the Bass model and the clients assisted variable. This is based on the fact that the use of this variable helps to detect if there is any deficiency in the design of the marketing strategy when the client does not make the purchase.

The data on clients assisted are as easily available to companies as sales data. However, the use of this variable improves PLC analysis and this allows an improvement in company forecasting. Thus, making the clients assisted variable a tool to strategically plan investments in innovation and marketing would reduce uncertainty in business management.

The purpose of this paper is to analyse the diferences between the clients assisted and sales variables, to discover which of the two variables is the more useful for the estimation of the PLC phases through the Bass model, thus aiding the managers of company sales and marketing departments.

Container shipping is generally considered a global business. This truth may not hold from a single-company perspective. The companies’ physical operation networks show that container carriers operate differently and follow different paths in their internationalisation development. Additionally, the degree of internationalisation, measured on the basis of sea-oriented operations, differs from that measured according to land-oriented front-end marketing and sales activities. The purpose of this study is to further examine the internationalisation patterns of shipping lines.

An examination of the front-end activities and the structures of leading container-shipping companies is conducted. The sales office networks of the sector’s 20 largest companies worldwide (by twenty-foot equivalent unit capacity) are analysed as key indicators. The numbers of sales offices are measured by analysing the websites of the sample (20 companies), as well as annual reports and other publicly available data sources.

The findings show that not all shipping companies are international, by virtue of the industry. While it is difficult to observe differences in the overall patterns of the sales networks at a macro level, some companies differ in their activities. The data set also shows that market share and total capacity are not necessarily good indicators of a carrier’s worldwide presence.

This research is based on secondary data. Other important transactional and market-oriented considerations should be examined before drawing conclusions about the internationalisation of container-shipping companies and of the industry.

This paper contributes to the relevant existing research, particularly by adding its view on the demand-oriented criteria as suggested by Dunning and Lundan (2008).

The purpose of this article is based on the unit patent license fee model in the closed-loop supply chain.

This paper analyzes the impact of the bundling strategy of the retailer selling new products and remanufactured products on the closed-loop supply chain under the condition that the original manufacturer produces new products and the remanufacturer produces remanufacturing products.

The results show that alternative products can be bundled, and in many cases, the bundling of remanufactured products and new products is better than selling alone.

If the retailer chooses bundling, for the remanufacturer, when certain conditions are met, the benefits of bundling are greater than the separate sales at that time; for the original manufacturer, when the recycling price sensitivity coefficient is high, the bundling is better than separate sales.

This paper aims to investigate the internal factors of resources and capabilities of five born globals (BGs) from Estonia. It explores quantitatively the internal factors between a medium BG and four small BGs.

The study used a survey questionnaire in collecting information from the CEOs of BGs. The questionnaire consisted of 105 questions relevant to export sales related to differences in internal factors.

The firms’ size and industrial sector play a role in export sales due to differences in internal factors. Small BGs expect financially based rewards, non-financial rewards, the job satisfaction of sales representatives with the export manager, and with work in general, and the representatives’ job satisfaction is higher in the small BGs than in the medium BG. The sales representatives’ job performance, their work performance, sales presentations, technical knowledge, adaptiveness, teamwork, planning, support, the organisational capabilities for business identification, relationship-building and innovation are all higher in medium BGs than in small BGs. Eleven sub-constructs of the model were shown to be important for small BGs.

The current study is focused on BGs from Estonia, i.e. small BGs and medium BGs. The study contributes to the internal factors of resources and capabilities of BGs as well as to the literature review on BGs. It also provides a logical conceptual model, indicating that the export manager’s job satisfaction is the central construct influenced by antecedent factors and is related directly to the export sales performance of the BG.

The authors aimed to contribute to the interface of comparative international entrepreneurship and international marketing by exploring the micro-foundations and micro-processes of network bricolage aimed at international market entry among the entrepreneurs of small biotechnology firms. The research questions of the study are (1) How do the international entrepreneurs of small firms act and use their domestic and/or international networks for new market entry? (2) How are the micro-foundations and micro-processes of networking similar or different between individuals from different countries?

A qualitative research design was used to investigate six cases from different countries of origin, looking at the micro-foundations and micro-processes underlying international market entry undertaken by entrepreneurs from Canada, Finland and New Zealand.

The micro-foundations for network bricolage by international entrepreneurs were taken to involve features of the country of origin, including market size and location, and the usefulness of the official language of the nation. The micro-processes were taken to involve the international entrepreneur’s network bricolage actions (i.e. collaborating and generating, obtaining and applying, reaching and maintaining, and seeking and reviewing), while encompassing also the location of their networks (domestic and/or international) and the operational domains these belonged to (R&D, funding, sales channel and customer). The study categorised three types of international entrepreneurs undertaking new market entry, illustrating cross-national differences: (1) sales-channel-oriented seekers, (2) funding-oriented riders and (3) customer-oriented hunters.

The study contributes to research on comparative international entrepreneurship and international marketing. This findings show that national-level micro-foundations influence the actions of network bricolage, the importance of various operational domains and the location of the network ties used. This main contribution is a conceptual model based on our cross-national investigation of international entrepreneurs’ networking actions. The authors reveal the micro-foundations and micro-processes relevant to international entrepreneurs’ network bricolage for new market entry, and present examples of international entrepreneur types emerging from our cross-national setting.