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Book part

Simon Grima and Sara Pavia

In this chapter our objective was to gain an understanding of what affects Maltese individuals’ behaviors when it comes to retirement planning. Given that longevity is on…

Abstract

In this chapter our objective was to gain an understanding of what affects Maltese individuals’ behaviors when it comes to retirement planning. Given that longevity is on the increase, state pension income is limited (and most probably unsustainable over the long term) and that many individuals expect to be able to enjoy a comfortable retirement, it sets out to determine which macro- and micro-environmental factors are likely to encourage positive behavior or otherwise.

We did this by consulting and analyzing existing literature in chapter 8 of this book and designing an online survey which was specifically created to capture qualitative data about public sentiment and behaviors with respect to retirement planning.

The study identifies a general sense of confusion in relation to financial concepts related to retirement. In line with other countries’ findings, the prevalence of myopia, procrastination and inertia has also been observed through the research undertaken.

Through established behavioral finance theories and literature, as well as actual European practical examples, the research explores the best ways of “nudging” people into recognizing the importance of acting and making the right long-term financial decisions, to their own benefit and to that of society.

Notwithstanding, that overall savings of the Maltese are around the average established for Europe, the study found that savings tend to be shorter term, and therefore insignificant when considering the actual requirements for the desired quality of life at retirement. The research showed how, as with other countries, behavioral biases have been limiting people from acting or making the right choices.

Of the most prominent of behaviors, procrastination, myopia, and inertia were observed. In the local market, these seemed to stem from a sense of disorientation as to the meaning of certain concepts, how to initiate the process and which actions to take. In fact, although many did not admit it outright, respondents showed low levels of confidence in their abilities, and avoid acting out of fear that it may not be the right choice. At the same time, they would try to rationalize their lack of action by the premise that things would sort themselves out, although this is typically labeled as overconfidence, it is likely to be an attempt to feel better about their stance on the matter.

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Details

Contemporary Issues in Behavioral Finance
Type: Book
ISBN: 978-1-78769-881-9

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Article

Maurice Murphy, Eugene McGovern and Sara Pavia

The purpose of this research is to outline in detail the procedure of remote data capture using laser scanning and the subsequent processing required in order to identify…

Abstract

Purpose

The purpose of this research is to outline in detail the procedure of remote data capture using laser scanning and the subsequent processing required in order to identify a new methodology for creating full engineering drawings (orthographic and 3D models) from laser scan and image survey data for historic structures.

Design/methodology/approach

Historic building information modelling (HBIM) is proposed as a new system of modelling historic structures; the HBIM process begins with remote collection of survey data using a terrestrial laser scanner combined with digital cameras. A range of software programs is then used to combine the image and scan data.

Findings

Meshing of the point cloud followed by texturing from the image data creates a framework for the creation of a 3D model. Mapping of BIM objects onto the 3D surface model is the final stage in the reverse engineering process, creating full 2D and 3D models including detail behind the object's surface concerning its methods of construction and material makeup, this new process is described as HBIM.

Originality/value

The future research within this area will concentrate on three main stands. The initial strand is to attempt improve the application of geometric descriptive language to build complex parametric objects. The second stand is the development of a library of parametric based on historic data (from Vitruvius to 18th century architectural pattern books). Finally, while it is possible to plot parametric objects onto the laser scan data, there is need to identify intermediate software platforms to accelerate this stage within the HBIM framework.

Details

Structural Survey, vol. 27 no. 4
Type: Research Article
ISSN: 0263-080X

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Book part

Sara Pavia and Simon Grima

The authors herein carry out a literature review of retirement planning and highlights that proper retirement planning starts by looking at the level of income an…

Abstract

The authors herein carry out a literature review of retirement planning and highlights that proper retirement planning starts by looking at the level of income an individual is likely to continue receiving at retirement if they were to take no action, then comparing this to what they would need to lead the lifestyle they desire. The authors review the traditional economic theories that many are accustomed to when interpreting financial matters (i.e., rational behavior) and compares this to the various studies and articles found in literature. The authors then dig into retirement planning in Malta and the behavioral obstacles to proper planning and how these are tackled in different European countries.

Details

Contemporary Issues in Behavioral Finance
Type: Book
ISBN: 978-1-78769-881-9

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Article

Valentina Beretta, Chiara Demartini and Sara Trucco

The integrated reporting framework seeks to connect a firm’s financial and non-financial performance in a single report by displaying how different forms of capital…

Abstract

Purpose

The integrated reporting framework seeks to connect a firm’s financial and non-financial performance in a single report by displaying how different forms of capital contribute to the firm’s value creation. Drawing on impression management and incremental information approaches, the purpose of this paper is to examine how the content and semantic properties of intellectual capital disclosure (ICD) found in integrated reports is associated with firms’ performance.

Design/methodology/approach

All reports by European listed firms from 2011 to 2016 available via the integrated reporting emerging practice examples database are analysed. Content analysis is used to assesses the quality of ICDs, whereas a regression analysis tests the variation in semantic properties of ICDs according to firms’ performance.

Findings

ICDs in integrated reports are mainly discursive, with a backward looking orientation and a limited focus on human capital. On average, more than half of each ICD is conveyed in a positive tone. As the optimistic tone in firms’ ICDs increases, so too does their non-financial performance measured in terms of environmental, social and governance aspects. This finding supports the incremental information approach.

Originality/value

This paper contributes to the current literature on ICDs by introducing new evidence on firms’ motivations for non-financial disclosures in integrated reports. By taking a more comprehensive theoretical approach, namely, testing both impression management and incremental information hypotheses, this research extends on prior studies which tested similar relationships in integrated reports but focussed only on the impression management hypothesis.

Details

Journal of Intellectual Capital, vol. 20 no. 1
Type: Research Article
ISSN: 1469-1930

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Article

Maria Chiara Demartini and Sara Trucco

The purpose of this paper is to investigate the effect of the use of subjective (objective) performance measures on relevant organisational outcomes, namely perceived…

Abstract

Purpose

The purpose of this paper is to investigate the effect of the use of subjective (objective) performance measures on relevant organisational outcomes, namely perceived managerial discretion (PMD) and manager’s satisfaction with the performance measurement system (PMS). Furthermore, the paper analyses the indirect link between subjective vs objective measures and managers’ satisfaction through PMD.

Design/methodology/approach

To test the research hypotheses, a paper-based questionnaire was sent to Italian health care managers in Lombardy. Thus, a PLS-SEM analysis was performed on a data set of 97 Italian health care managers.

Findings

Empirical findings showed that objective measures are more capable of supporting the managerial perception of discretion when compared to more subjective ones such as “fads” and “fashions”, and that managers are more satisfied with the PMS when it is grounded on objective measures rather than subjective ones.

Originality/value

The paper operationalizes and empirically tests the measure of PMD, linking this to antecedents and consequences. It also extends the literature on subjectivity in the PMS, since it develops new knowledge on the choice between subjective and objective measures by applying this choice to a variety of PMS, whereas prior literature on objective vs subjective measures has mainly focussed on performance evaluation.

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Details

Non-Financial Disclosure and Integrated Reporting: Practices and Critical Issues
Type: Book
ISBN: 978-1-83867-964-4

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Abstract

Details

International Business in a VUCA World: The Changing Role of States and Firms
Type: Book
ISBN: 978-1-83867-256-0

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Article

George K. Stylios

Examines the thirteenth published year of the ITCRR. Runs the whole gamut of textile innovation, research and testing, some of which investigates hitherto untouched…

Abstract

Examines the thirteenth published year of the ITCRR. Runs the whole gamut of textile innovation, research and testing, some of which investigates hitherto untouched aspects. Subjects discussed include cotton fabric processing, asbestos substitutes, textile adjuncts to cardiovascular surgery, wet textile processes, hand evaluation, nanotechnology, thermoplastic composites, robotic ironing, protective clothing (agricultural and industrial), ecological aspects of fibre properties – to name but a few! There would appear to be no limit to the future potential for textile applications.

Details

International Journal of Clothing Science and Technology, vol. 19 no. 6
Type: Research Article
ISSN: 0955-6222

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Article

Martina Baglio, Sara Perotti, Fabrizio Dallari and Elisabetta Rachele Garagiola

Logistics real estate has been experiencing a recent rebirth led by the growth of retailing and e-commerce. Although these sectors are looking for facilities matching…

Abstract

Purpose

Logistics real estate has been experiencing a recent rebirth led by the growth of retailing and e-commerce. Although these sectors are looking for facilities matching their logistics needs, the identification of the most suitable building becomes a challenging task. To date, from both the practitioner’s and academic perspectives there is a lack of models for assessing the quality of logistics facilities together with functionality (i.e. whether a warehouse is suitable for hosting a given logistics activity). The purpose of this paper is to fill this gap by developing a rating model for assessing the quality and functionality of logistics facilities.

Design/methodology/approach

A three-pronged methodology was adopted. First, a Systematic Literature Network Analysis (SLNA) was carried out to identify the relevant features that must be taken into consideration when assessing logistics real estate. Second, a Delphi method involving experts in the field was used to fine-tune the list of features that emerged from the SLNA process and to evaluate the importance of each feature from a company perspective. The rating model was developed and validated through pilot tests on 27 logistics facilities.

Findings

The rating model is divided into four sections: location, technical specifications, external spaces and internal areas. As an output, the model determines the building quality and main functionality, together with a gap analysis to detect the weakest emerging elements.

Originality/value

This research fills an identified research gap in the logistics real estate literature. Specifically, it offers a quantitative and shared evaluation method, which can be used to estimate building quality and functionality, thus extending the scope of the previous assessment methods available.

Details

Benchmarking: An International Journal, vol. 27 no. 3
Type: Research Article
ISSN: 1463-5771

Keywords

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