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1 – 10 of over 16000Dan Wang, Xueqing Wang, Mingshuai Liu, Henry Liu and Bingsheng Liu
The performance of public–private partnerships (PPPs) can be determined by a variety of factors, i.e. influencing factors (IFs). This study is undertaken for a purpose of…
Abstract
Purpose
The performance of public–private partnerships (PPPs) can be determined by a variety of factors, i.e. influencing factors (IFs). This study is undertaken for a purpose of identifying how such factors determine the project's performance (i.e. factor transmission patterns), particularly from the key stakeholders' perspectives.
Design/methodology/approach
A hybrid approach, which comprises a Social Network Analysis, ISM (i.e. Interpretive Structural Modeling) and an improved DEMATEL (i.e. Decision-Making Trail and Evaluation Laboratory), was developed to analyze the causal relationships between the identified IFs as well as the transmission patterns of their impacts on PPPs. Data were collected from interviews and questionnaire surveys.
Findings
The transmission patterns of the identified IFs cascade from project environment and features and stakeholders' relationship to the project company capabilities and project process. It is identified that the public authority has a higher level than that of the private entity in PPPs.
Research limitations/implications
It lacks longitudinal studies to investigate the dynamics of PPP stakeholder relationships and social networks. Future research needs to explore the transmission patterns of sub-factors affecting PPP performance and extend the applicability of the developed hybrid approach.
Practical implications
This research provides practitioners with a robust tool that is useful for and insights into enhancing the management of lifecycle performance. It ensures the public authorities and private entities embarking on PPPs will make an informed decision about the monitoring of the life cycle performance.
Originality/value
This study contributes to knowledge of managerial mechanisms that can be adopted to manage factors determining the performance of PPPs. It enables an understanding of stakeholders' roles in driving the life cycle performance of PPPs.
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Islam Hassouneh, Teresa Serra and Štefan Bojnec
– The purpose of this paper is to assess price linkages and patterns of transmission among producer and consumer markets for apple in Slovenia.
Abstract
Purpose
The purpose of this paper is to assess price linkages and patterns of transmission among producer and consumer markets for apple in Slovenia.
Design/methodology/approach
Non-linear error correction models are applied. Non-linearities are allowed by means of threshold and multivariate local linear regression estimation techniques. Monthly prices over the period 2000-2011 are used in the empirical application.
Findings
Both techniques provide evidence of non-linearities in price adjustments. Findings suggest that producer and consumer prices tend to increase rather than decrease. Results also indicate that parametric threshold approaches may have difficulties in adequately representing price behavior dynamics.
Originality/value
The main contribution of this work to the literature relies on the fact that this is the first attempt to assess vertical price transmission in the apple sector in Central and Eastern European Country markets. Further, it is the first attempt to use multivariate local linear regression techniques in this context.
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The study investigates the amplitude and direction of the movement of information between spot and futures indices. The study progresses to account for the investor's…
Abstract
Purpose
The study investigates the amplitude and direction of the movement of information between spot and futures indices. The study progresses to account for the investor's heterogeneity and compare the evolving structure of investors in emerging and developed economies. Further, the structural linkages in terms of returns and variance have been explored for the futures indices to contribute to meteor shower literature as explained by Engle et al. (1990); Yarovaya et al. (2017).
Design/methodology/approach
To facilitate the purpose, the Indian and Chinese markets were selected to represent emerging economies and the United States for developed one. The bivariate wavelet cum BEKK-GARCH (1,1) model was estimated.
Findings
For the developed markets, like the United States, the spot market improves its information transmission role with time horizon while exactly opposite holds for the Chinese market. A bidirectional overnight information spillover was found for all three pairs. The Indian futures market was vulnerable to bad news from the other two markets. Evidence suggesting the dominance of institutional investors in the Chinese futures market and retail investors in the Indian futures market is found.
Originality/value
The spot–futures relation has been studied on both the time and frequency domains considering different investment horizons. Due consideration has been taken to account for the overlapping trading hours.
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Kyle Kucera, Michel Plaisent, Prosper Bernard and Lassana Maguiraga
Spyware is a controversial software technology that allows the surreptitious collection of personal information from computers linked to the internet. The purpose of this study…
Abstract
Purpose
Spyware is a controversial software technology that allows the surreptitious collection of personal information from computers linked to the internet. The purpose of this study was to determine the prevalence of spyware in internet shareware and freeware and to investigate the personal information collected.
Design/methodology/approach
The methodology was a two‐phase, multi‐case study. The first phase determined that five of the 50 most popular pieces of Windows®‐based freeware and shareware available to internet users from CNETDownload.com were suspected of containing spyware: these were included as data sources for phase two. The purpose of phase two was to confirm the existence of spyware and to identify the types and frequencies of any personal data transmissions. For this phase, data were collected and analyzed utilizing a passive network monitor program to examine packets of data transmitted from a personal computer to external destinations on the internet.
Findings
The findings confirmed the existence and use of spyware in three of five suspected cases. However, the data indicated that there was a low occurrence of spyware and that these programs have the capability to collect numerous types of personal data. The main limitation is that these results are based on a snapshot of data obtained during five days.
Practical implications
The study has practical implications for internet users, who should be aware that spyware exists and understand its potential threat. Spyware developers should provide the user with an effective removal tool. Finally, marketers are cautioned that spyware might alienate customers.
Originality/value
This paper confirms the potential for misuse of these programs.
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Dina Gabbori, Basel Awartani, Aktham I. Maghyereh and Nader Virk
The authors aim to assess whether herding in GCC stock markets is more responsive to global dynamics than its response to regional developments. To do so, they use the largest…
Abstract
Purpose
The authors aim to assess whether herding in GCC stock markets is more responsive to global dynamics than its response to regional developments. To do so, they use the largest equity market in the region which is Saudi Arabia as the benchmark, and then they examine if herding crosses from this large regional market to the rest of equities in the neighboring markets during various time periods. To compare the importance of global influences on herding, the authors investigate and compare the impact of the information flow from the US equity market on the herding of equities in the GCC markets.
Design/methodology/approach
To investigate herding in GCC markets the authors use the relationship between the squared market return and the cross-section absolute deviation that does not covary with market styles and/or fundamentals. In order to do that we follow Galariotis et al. (2015) and account for four styles: market-oriented, small-cap, value and momentum. As these factors have been shown to be associated with the economic fundamentals, filtering the covariance of deviation with these factors is expected to remove the style and the fundamental herding influence from the value of the dispersion.
Findings
The results show significant herding behavior that persists across various independent periods. This evidence stands even when the authors control for the well- known factor structures in stock returns. Importantly, the authors find that the few herding crossovers that occurred during the sample period are more likely to originate from the Saudi market rather than from the US. Therefore, the authors conclude that behavioral inefficiencies in the GCC equity markets are likely to be regional and that the sentiment-based trading in the US has essentially a minimal role to play.
Practical implications
The empirical findings are useful for policymakers who aim at preventing market manipulation in order to preserve the integrity of financial markets. Policymakers in the GCC should disclose more information to aid investors so they do not rely on other investors' trades. The portfolio managers should be aware that the correlation of GCC equities can be higher in the short term due to common market herding in these countries. As the US market does not play an important role in triggering behavioral irrationalities in these markets, investing in GCC equities is a good hedge in a US portfolio. Finally, the results have also important implications for active funds that aim to exploit short-term trending in markets in order to enhance performance.
Originality/value
The authors’ contribution in this paper is to investigate herding in GCC markets by using the relationship between the squared market return and the cross-section absolute deviation that does not covary with market styles and/or fundamentals. Another contribution of our paper is to investigate any cross herding from the Saudi market to the rest of the markets in the area. The previous literature on GCC equity market herding is silent on this issue and it is typically restricted to the level of the single market.
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Dazhong Wu, Mohamad Sepehri, Jian Hua and Feng Xu
This paper aims to conduct an empirical study to investigate whether an industry’s position affects the transmission of information and economic shocks.
Abstract
Purpose
This paper aims to conduct an empirical study to investigate whether an industry’s position affects the transmission of information and economic shocks.
Design/methodology/approach
This paper conducts an empirical study of inventory performance based on a large panel of 71 industries in the manufacturing, wholesale and retail sectors over a 10-year period (2007–2016).
Findings
It is found that the position of a focal industry in the supply chain network moderates the impacts of macroeconomic uncertainty shocks and shocks from supplier/customer industries on the focal industry’s inventory. On the one hand, more central industries are more sensitive to macroeconomic uncertainty shocks as well as spillover shocks from their supplier and customer industries. On the other hand, uncertainty shocks from more central industries have higher impact on their partner industries than those from less central industries.
Practical implications
A manager needs to take into account the network positions of suppliers/customers in supply network when making inventory decisions. For example, when sharing information with partners, the network position of a partner affects how important its information is.
Originality/value
The key novelty of this paper is the introduction of network structure that represents the supplier–customer relationships in the entire economy, and the modeling of uncertainty shocks transmitted through the supply chain network.
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Jadwiga Malgorzata Pisula and Mieczyslaw Plocica
– The purpose of this article is to present a method for the analysis of the quality of the bevel gear at the development level.
Abstract
Purpose
The purpose of this article is to present a method for the analysis of the quality of the bevel gear at the development level.
Design/methodology/approach
A non-commercial aircraft bevel gear design support system was developed. The system utilises matrix and vector calculi to model the technological machining systems and to analyse the contact of the designed pair. Both the technological model and the design model offer the possibility of manipulating the calculated parameters. This enables independent selection of the pinion/gear engagement, making it possible to achieved the desired contact pattern (its shape, position and size) and/or minimise motion transmission deviation. This article presents an analysis of the meshing of the aircraft transmission designed in two variants.
Findings
The newly developed non-commercial transmission design support system offers the capability to freely adjust mesh quality indicators. The first step is to perform automated technological calculations for a specific geometry of gear members, on the basis of which gear and pinion flanks are developed. Then, numerical models of tooth flanks are configured in the designed pair, and tooth mesh quality is verified. Quality indicators are provided in the form of summary contact pattern and the motion graph. In the subsequent step, changes are made to basic geometry of pinion tooth flank. After satisfactory mesh indicators have been reached, the transmission is tested for assembly errors and additional corrections are made to the geometry of the pinion tooth surface, as required. The above methodology guarantees that the assumed quality indicators are achieved on the physically cut transmission.
Practical implications
Fast preparation of the technology with guaranteed high mesh quality is a significant factor in the competitiveness of an industrial plant which implements a new bevel gear in its manufacturing activities.
Originality/value
The visualisation of the results of the use of the application allows the user to easily interpret the analysed contact pattern and take appropriate decisions as to the necessity of making corrections.
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Jesús Molina-Muñoz, Andrés Mora–Valencia, Javier Perote and Santiago Rodríguez-Raga
This paper aims to analyze the volatility transmission between an energy stock index and a financial stock index in emerging markets during recent high instability periods. The…
Abstract
Purpose
This paper aims to analyze the volatility transmission between an energy stock index and a financial stock index in emerging markets during recent high instability periods. The study considers the impact of both the period under analysis and the data frequency on the direction and intensity of the contagion, as well as the effect of the potential spillovers on the risk measures. These questions still lack definitive answers and have become more relevant in a context of financially unsettling events such as COVID-19 crises.
Design/methodology/approach
This study employs an extension of the dynamic conditional correlation (DCC) model that allows for the time-varying dependence relationship between the variables. This dependence is analyzed at daily, weekly and monthly basis using data from the Bloomberg platform on energy and stock market indices for emerging markets between 2001 and 2021.
Findings
The results for a sample spanning from 2001 to mid-2021 show bidirectional volatility transmission on a daily basis, whereas only evidence of volatility transmission from the financial to the energy exists for weekly and monthly frequencies. However, considering different subsamples of daily data, the authors only find volatility transmission from financial (energy) index to the energy (financial) during the Great Recession (COVID-19) as a consequence of the different source of the shock and transmission channels.
Originality/value
This study reveals that volatility transmission between energy and stocks in emerging markets has changed and presents a unidirectional pattern from energy to financial markets during the COVID-19 period in contrast to calm and the sub-prime crisis intervals. These results differ from previous studies, focused on global markets, that show bidirectional spillovers during this period.
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Bingsheng Liu, Juankun Li, Dan Wang, Henry Liu, Guangdong Wu and Jingfeng Yuan
This study aims to develop a collaborative governance framework (CGF) to systematically investigate the impeding factors (IFs) in terms of the operational sustainability of PPPs…
Abstract
Purpose
This study aims to develop a collaborative governance framework (CGF) to systematically investigate the impeding factors (IFs) in terms of the operational sustainability of PPPs. It examines the transmission pattern (i.e. the way in which network members react to each other) of the IFs network.
Design/methodology/approach
Literature review and interview were adopted to identify the IFs. Then, with the data collected from the interview in China, the social network analysis and interpretive structure model were synergised to examine the chain reaction, driving and dependent powers, and hierarchical structure of the identified IFs.
Findings
The results reveal that the cognition, institutional, financial and participation aspects are key barriers confronted by PPP sustainability, and the government plays a leading role in controlling factors causing sustainability-related problems in PPPs. Weak government leadership and institutional environment were identified as the most fundamental reasons triggering a chain of IFs, while project governance and management activities act as bridge nodes that play an intermediary role in the IFs network.
Research limitations/implications
This research contributes to the literature on PPP governance by (1) bridging the literature gap through the development of CGF for explaining the governance of PPP sustainability with a holistic view that considers both macro environment and operational project processes; and (2) identifying the transmission pattern of IFs network which uncovers the underlying dynamics causing the unsustainable operation of PPPs.
Practical implications
This research provides practitioners with a list of key checkpoints for preventing failure escalation, enables decision-makers to prioritise obstacle-mitigation efforts and develop a feasible process to control PPP operation, and offers management countermeasures to remove the key barriers impeding PPP sustainability.
Originality/value
This study is novel for adopting network-oriented techniques to quantify the relative importance of the IFs and examine the transmission pattern of the IFs system. Therefore, it visualises the complex underlying dynamics causing unsustainable PPP operation, identifies root and direct causes of PPP failures, and provides decision-makers with insights into sustaining PPP sustainability from a network-oriented perspective.
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Xiwei Wang, Yunfei Xing, Yanan Wei, QingXiao Zheng and Guochun Xing
Social media, especially microblog, has become one of the most popular platforms for public opinion dissemination. However, so far few studies have been conducted to explore…
Abstract
Purpose
Social media, especially microblog, has become one of the most popular platforms for public opinion dissemination. However, so far few studies have been conducted to explore information dissemination under the mobile environment. This paper aims to introduce the approach to analyze the public opinion information dissemination in mobile social networks.
Design/methodology/approach
This paper chooses “network attack” as the research topic and extracts 23,567 relevant messages from Sina Microblogs to study the structure of nodes for public opinion dissemination and the characteristics of propagation paths on mobile internet. Public opinion dissemination is compared on both mobile and non-mobile terminals.
Findings
The results reveal the characteristics of public opinion dissemination in mobile environment and identify three patterns of information propagation path. This study concludes that public opinion on mobile internet propagates more widely and efficiently and generates more impact than that on the non-mobile internet.
Social implications
The methods used in this study can be useful for the government and other organizations to analyze and identify problems in online information dissemination.
Originality/value
This paper explores the mechanism of public opinion dissemination on mobile internet in China and further investigates how to improve public opinion management through a case study related to “network attack.”
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