Search results

This chapter addresses one of the most crucial areas for critical thinking: the morality of turbulent markets around the world. All of us are overwhelmed by such turbulent markets. Following Nassim Nicholas Taleb (2004, 2010), we distinguish between nonscalable industries (ordinary professions where income grows linearly, piecemeal or by marginal jumps) and scalable industries (extraordinary risk-prone professions where income grows in a nonlinear fashion, and by exponential jumps and fractures). Nonscalable industries generate tame and predictable markets of goods and services, while scalable industries regularly explode into behemoth virulent markets where rewards are disproportionately large compared to effort, and they are the major causes of turbulent financial markets that rock our world causing ever-widening inequities and inequalities. Part I describes both scalable and nonscalable markets in sufficient detail, including propensity of scalable industries to randomness, and the turbulent markets they create. Part II seeks understanding of moral responsibility of turbulent markets and discusses who should appropriate moral responsibility for turbulent markets and under what conditions. Part III synthesizes various theories of necessary and sufficient conditions for accepting or assigning moral responsibility. We also analyze the necessary and sufficient conditions for attribution of moral responsibility such as rationality, intentionality, autonomy or freedom, causality, accountability, and avoidability of various actors as moral agents or as moral persons. By grouping these conditions, we then derive some useful models for assigning moral responsibility to various entities such as individual executives, corporations, or joint bodies. We discuss the challenges and limitations of such models.

Different external supply scenarios faced by the retailers will affect their choice of strategy when supply is disrupted and becomes far less than demand, urgently. This study focuses on analyzing both demand and supply side response strategies to meet customer demand and reduce the impact of the shortage during supply disruptions.

According to the quantity of products that the external market can provide, the external supply scenarios were divided into sufficient-type external supply and learning-type external supply. A two-echelon perishable goods supply chain was analyzed, and three kinds of contingency strategy models for downstream retailers were investigated. First, in the sufficient external supply scenario, the optimal price and transshipment quantity to maximize retailer's profits is discussed. Second, in the scenario of learning-type external supply, this study analyzes the optimal decision in three mechanisms of the hybrid strategy and their application: price priority mechanism, quantity priority mechanism and price–quantity balance mechanism. Furthermore, the influence of penalty cost and supply on the priority orders of different mechanisms was studied.

Results show that comparing the two pure strategies (pricing strategy and transshipment strategy)it was noted that the hybrid strategy produces the best results in sufficient-type external supply scenario. In the learning-type external supply scenario, a numerical study has shown the existence of three areas in case of penalty cost and supplier's capacity, and each areas has different priority orders of the three mechanisms. Under the situation of learning external supply, the retailer's optimal strategy is affected by parameters such as penalty cost and supply volume.

The main innovation of the work lies in the following: First; the external supply situation was divided into sufficiency type and learning type, which improves the external situation faced by retailers after the outbreak of emergencies, helps retailers understand the external situation, conforms to the actual situation and has certain practical application value. Second; in the context of learning external supply, there are three coping strategies for retailers, including: Price priority mechanism, Quantity priority mechanism and Pricing and transshipment balance mechanism. This will help retailers make strategic choices, make more scientific management decisions and improve the supply chain emergency management theory. Third; the demand side response was managed through the change of external supply during supply side recovery period and supply disruption. The proposed model enables managing and analyzing supply disruption efficiently and effectively via handling uncertainty by considering all aspects of decision-making process. The proposed model can be applied in various fields such as vegetable and fruit, fresh food, etc.

In response to the problem of insufficient traction/braking adhesion force caused by the existence of the third-body medium on the rail surface, this study aims to analyze the utilization of wheel-rail adhesion coefficient under different medium conditions and propose relevant measures for reasonable and optimized utilization of adhesion to ensure the traction/braking performance and operation safety of trains.

Based on the PLS-160 wheel-rail adhesion simulation test rig, the study investigates the variation patterns of maximum utilized adhesion characteristics on the rail surface under different conditions of small creepage and large slip. Through statistical analysis of multiple sets of experimental data, the statistical distribution patterns of maximum utilized adhesion on the rail surface are obtained, and a method for analyzing wheel-rail adhesion redundancy based on normal distribution is proposed. The study analyzes the utilization of traction/braking adhesion, as well as adhesion redundancy, for different medium under small creepage and large slip conditions. Based on these findings, relevant measures for the reasonable and optimized utilization of adhesion are derived.

When the third-body medium exists on the rail surface, the train should adopt the low-level service braking to avoid the braking skidding by extending the braking distance. Compared with the current adhesion control strategy of small creepage, adopting appropriate strategies to control the train’s adhesion coefficient near the second peak point of the adhesion coefficient-slip ratio curve in large slip can effectively improve the traction/braking adhesion redundancy and the upper limit of adhesion utilization, thereby ensuring the traction/braking performance and operation safety of the train.

Most existing studies focus on the wheel-rail adhesion coefficient values and variation patterns under different medium conditions, without considering whether the rail surface with different medium can provide sufficient traction/braking utilized adhesion coefficient for the train. Therefore, there is a risk of traction overspeeding/braking skidding. This study analyzes whether the rail surface with different medium can provide sufficient traction/braking utilized adhesion coefficient for the train and whether there is redundancy. Based on these findings, relevant measures for the reasonable and optimized utilization of adhesion are derived to further ensure operation safety of the train.

This paper aims to study the joint decision making of advance selling and service cancelation for service provides with limited capacity when consumers are overconfident.

For the case in which consumers encounter uncertainties about product valuation and consumption states in the advance period and are overconfident about the probability of a good state, we study how the service provider chooses the optimal sales strategy among the non-advance selling strategy, the advance selling and disallowing cancelation strategy, and the advance selling and allowing cancelation strategy. We also discuss how overconfidence influences the service provider’s decision making.

The results show that when service capacity is sufficient, the service provider should adopt advance selling and disallow cancelation; when service capacity is insufficient, the service provider should still implement advance selling but allow cancelation; and when service capacity is extremely insufficient, the service provider should offer spot sales. Moreover, overconfidence weakens the necessity to allow cancelation under sufficient service capacity and enhances it under insufficient service capacity but is always advantageous to advance selling.

The obtained results provide managerial insights for service providers to make advance selling decisions.

This paper is among the first to explore the effect of consumers’ overconfidence on the joint decision of advance selling and service cancelation under capacity constraints.

The mental healthcare is experiencing an ever-growing surge in understanding the consumer (e.g., patient) engagement paradox, aiming to vouch for the quality of care. Despite this surge, scant attention has been given in academia to conceptualize and empirically investigate this particular aspect. Thus, drawing on the Stimulus-Organism-Response (S-O-R) paradigm, the study explores how patients engage with healthcare service providers and how they perceive the quality of the healthcare services.

Data were collected from 279 respondents, and the derived conceptual model was tested by using Smart PLS 3.2.7 and PROCESS. To complement the findings of partial least squares (PLS)-based structural equation modeling (SEM), the present study also applied fuzzy set qualitative comparative analysis (fsQCA) to identify the necessary and sufficient conditions to explore substitute conjunctive paths that emerge.

Findings show that patients’ perceived intimacy (PI), cohesion and privacy enhance the quality of mental healthcare service providers. The results also suggest that patients’ PI, cohesion and privacy have indirect effects on the perceived quality of care (PQC) by the service providers through consumer engagement. The fsQCA results derive that the relationship among conditions leading to patients’ perception of the quality of care in regard to mental healthcare service providers is complex and is best reflected as multiple and conjectural causation configurations.

The findings from this research contribute to the advancement of studies on patients’ experiences by empirically examining the unique dynamics of interaction between consumers (patients) and mental healthcare service providers, thereby enriching both the literature on social interactions and the understanding of the consumer–provider relationship.

The results of this study provide practical implications for mental healthcare service providers on how to combine the study variables to enhance the quality of care and satisfy more patients.

A significant research gap has ascertained the inter-relationship between PI, cohesion, privacy, engagement and PQC from the perspective of mental healthcare service providers. This research is one of the primary studies from a managerial and methodological standpoint. The study contributes by combining symmetric and asymmetric statistical tools in service marketing and healthcare research. Furthermore, the application of fsQCA helps to understand the interactions that might not be immediately obvious through traditional symmetric methods.

Insufficient time allocation for the bidding period occurs, causing drawbacks to both parties, the client and the bidder. Hence, this study aims to evaluate the time allocated for preparing a bid proposal as per the National Competitive Bidding (NCB) in the Sri Lankan context.

The study has adopted a mixed method approach and expert interviews and document review to detect, analyse and validate the issues, and solutions based on NCB along with the adequacy of the allocated bidding period used as main data collection tools. Both qualitative and quantitative data were analysed through manual content analysis and inferential analysis respectively.

Overall, 24 local issues with the existing competitive bidding process and solutions for each were identified. Among the 24 local issues, it was unanimously agreed by all interviewees that three specific issues require attention and improvement. These issues are related to the standard and incompleteness of bidding documents, inaccurate BOQ quantities measured by the consultant or the main contractor, and the excessive number of bidding document amendments by the consultant. It was revealed that a maximum of 42 calendar days (6 weeks) is sufficient for the bidding process while a minimum of 21 calendar days (3 weeks) is insufficient.

The findings of this study would be recommended that Information and Communication Technology Agency (ICTA) understand the necessity of revising the NCB reference to the time allocated for the preparation of bids. By recognising the importance of sufficient time allocation for bid preparation, this research serves as a practical guide for authorities involved in policy formulation, aiding them in implementing revisions that align with the dynamic requirements of bidding procedures.

The European Union (EU) Medical Device Regulations (MDR) 2017/745 entered into force on May 2021 with changes related to strengthening the clinical evaluation requirements, particularly for high-risk devices. This study aims to investigate the impact of these strengthened requirements on medical device manufacturers by investigating the challenges they encounter while generating an MDR-compliant clinical evaluation report.

A systematic literature review was carried out using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses method of peer-reviewed literature and various government jurisdictional reports and legislation.

The findings from the study understanding what constitutes sufficient clinical evidence poses the biggest challenge to the generation of an MDR-compliant clinical evaluation report. Resulting from the challenges they are facing, manufacturers of certain CE-marked medical devices are planning to remove (and have removed) devices from the EU market upon expiration of their certificate, and in the case of new and innovative devices, some manufacturers are planning to launch in other markets ahead of the EU. These challenges will lead to a potential shortage of certain medical devices in the EU and a delay in access to new devices, thereby negatively impacting patients’ quality of life.

This study provides a unique insight into the challenges currently experienced by medical device manufacturers as they transition to the MDR clinical evaluation requirements and the subsequent impact on the continued availability of medical devices in the EU. A limitation is the lack of literature analysing the regulations and their effects.

This study has both theoretical contributions in that, to the best of the authors’ knowledge, it is the first detailed and systematic review of the new MDR Regulations and has implications for practice as manufacturers and policymakers can leverage it alike to understand the challenges of the new MDR.

Because family businesses are highly complex enterprises, researchers need appropriate theoretical and methodological tools to study them. The neoconfigurational perspective and its accompanying method, qualitative comparative analysis, are particularly well suited to phenomena characterized by complex causality, but their uptake in family business research has been slow and fragmented. To remedy this, the authors highlight their unique ability to address research questions for which other approaches are not well suited and discuss how they might be applied to family business phenomena.

The authors introduce the core tenets of the neoconfigurational perspective and how its set-theoretic epistemology differs from traditional approaches to theorizing and analysis. The authors then use a dataset of family firms to present a primer on conducting qualitative comparative analysis and interpreting the results.

The authors find that family firm resources can be combined in multiple ways to affect business survival, suggesting that resources are substitutable and complementary. The authors discuss how the unique features of the neoconfigurational approach, namely equifinality, conjunctural causation and causal asymmetry, can be fruitfully applied to break new ground in scholarly understanding of family businesses.

This article allows family business researchers to apply the neoconfigurational approach without first having to consult multiple and disparate sources often written for other disciplines. This article explicates how to leverage the theoretical and empirical advantages of the neoconfigurational approach in the context of family businesses, supporting a more widespread adoption of the neoconfigurational perspective in family business research.

This study aims to examine the effect of audit client’s use of blockchain (BC) on auditing accounting estimates (AEs), especially the inherent risk (IR), control risk (CR) and collection of audit evidence.

The study used a questionnaire to collect data for a sample of 249 auditors. A partial least squares method is used to test the hypotheses.

The results showed positive relationship between audit client’s use of BC and both IR and CR when auditing AEs. The results also showed the BC improves the collection of sufficient and appropriate audit evidence when auditing AEs.

This study did not address all the risks associated with auditing AEs, including fraud, detection, sampling and nonsampling risks, and the procedures and tests for auditing AEs.

There are several implications of this research, including that it informs the revision of auditing standards and guidelines to correspond with successive technological changes, which subsequently clarify the roles and responsibilities of auditors, and the study findings will also cause changes to the design and form of audit procedures so as to obtain sufficient and appropriate audit evidence.

To the best of the authors’ knowledge, this study is considered the first of its kind that deals with the effects of audit client’s use of BC on audit AEs in the Middle East and North Africa region. This study also presented different sets of measures as proxies for measuring IR, CR and AE.

This research is aimed to mainly be applicable to expediting engineering projects, uses the method of inverse optimization and the double-layer nested genetic algorithm combined with nonlinear programming algorithm, study how to schedule the number of labor in each process at the minimum cost to achieve an extremely short construction period goal.

The method of inverse optimization is mainly used in this study. In the first phase, establish a positive optimization model, according to the existing labor constraints, aiming at the shortest construction period. In the second phase, under the condition that the expected shortest construction period is known, on the basis of the positive optimization model, the inverse optimization method is used to establish the inverse optimization model aiming at the minimum change of the number of workers, and finally the optimal labor allocation scheme that meets the conditions is obtained. Finally, use algorithm to solve and prove with a case.

The case study shows that this method can effectively achieve the extremely short duration goal of the engineering project at the minimum cost, and provide the basis for the decision-making of the engineering project.

The contribution of this paper to the existing knowledge is to carry out a preliminary study on the relatively blank field of the current engineering project with a very short construction period, and provide a path for the vast number of engineering projects with strict requirements on the construction period to achieve a very short construction period, and apply the inverse optimization method to the engineering field. Furthermore, a double-nested genetic algorithm and nonlinear programming algorithm are designed. It can effectively solve various optimization problems.