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This paper aims to present a model that analyses the value gap, the difference between vacant possession value and tenanted investment value, for the houses of Dutch housing associations. The paper also aims to explore why the value gap is a structural phenomenon in The Netherlands and why it is an important factor contributing to the malfunctioning of the housing market. This gives an interesting expansion of the value gap theory.

By using the well‐known concept of user costs and using market equilibrium as a reference, the model quantifies the influence of six factors that cause the value gap. This is done for The Netherlands in total and for each of the 452 housing associations separately.

The value gap between the owner‐occupied and the rental sector is immense. This is especially the case with the rented houses owned by the housing associations, constituting one‐third of the total housing stock. The vacant possession value of these houses is on average €151,000; the reported tenanted investment value is no more than €33,000. Important factors that are responsible for this gap are, on the one hand, the fiscal subsidies in the owner‐occupied sector and, on the other hand, rent control and the policy of the housing associations characterised by a low rent level and high maintenance and management costs.

This is the first paper that analyses and quantifies the factors contributing to the value lost by Dutch housing associations' operations.

This study aims to examine the moderating effect of co-CEO power gaps on the impact of female executives on firm value. Several studies have suggested that female executives have a positive effect on improving firm value. The authors would like to examine whether this relationship changes because of co-CEO power gaps.

For empirical analysis, 426 non-financial companies are selected from companies listed in the Korean securities market from 2013 to 2018. The relationships between dummy variables of female CEOs, outside directors, registered executives and Tobin’s Q are examined, and the moderating effect of co-CEO power gaps that scored various factors is verified.

The results of this study show that female executives have a positive impact on firm value, but the larger the co-CEOs power gap is, the weaker that impact is.

The mutual monitoring of co-CEOs substitutes for governance mechanisms, but if there are power gaps between co-CEOs, then the leadership cannot be equitably shared and the mutual monitoring effect can be weakened.

This study contributes to research on corporate executives by analyzing the relationship between female executives related to shared leadership and firm values in Korean companies. Especially, this study finds that the role of female executives is differentiated according to co-CEO power gaps by using the CEO power index that reflects the characteristics of Korean corporate governance.

The purpose of this paper is to serve as a reminder to all managers that they must understand their customers, from the customers' perspective, and not make assumptions about customer needs.

Customer value discovery workshops are held with undergraduate on‐campus students and academic staff at Nottingham Trent University to identify customer values and irritations. Library staff participate in the workshops and vote as they expect their customers to vote. The gaps identified between staff assumptions of customer perceptions of service importance and performance serve as a catalyst for staff engagement in the change process that is necessary to deliver on the value propositions and reduce customer irritations.

Library staff assumptions of customer perceptions are not always accurate. The gaps identified help to engage staff in the change process that is necessary to improve perceptions of value and to reduce irritations. By explicitly addressing the value propositions with the aims of adding value and reducing irritation, student satisfaction with library services, as measured by two independent satisfaction surveys, improves considerably.

The research is based on two customer segments of one university library. The research should be repeated after a gap of three‐four years to check if the value propositions and irritations have changed in that time. If so, the goals of the library's operational plan would have to change to reflect the new value propositions.

A comparison of the Customer Value Discovery methodology with LibQUAL+™, which is used internationally, and the Rodski Research Group's method, used in Australia and New Zealand, is given.

The Customer Value Discovery methodology is most often used in the commercial sector. This paper explores its potential in the not‐for‐profit sector in the context of a university library service.

The purpose of this paper is to find determinants of the effectiveness of the business improvement processes that create value for services offered to patients in healthcare industries. The words patients and customers are used interchangeably throughout without any distinction. The features that distinguish medical services of different types and their inter-related factors are examined. The aim is to come up with a model of value vs cost that can help healthcare managers examine and use this exercise as an example of improvement micro-projects to help reduce cost and eliminate the patient’s dissatisfaction gaps.

The list of factors or attributes influencing the creation of value of a given medical process or a single procedure is described. The factors in the value creation are examined that will help in the categories for the risk analysis to determine the value-added benefits for the patient outcome. The cost analysis is approached from two angles to include: the cost of the service, and the costs of poor quality of service.

The model describes the value for the patient satisfaction depending on the quality level or grade of the treatment or procedures used and the cost factor. The analysis is done at several levels with special reference to case examples. A search for various analogous models in similar service providing situation used in business process management of other process types is highlighted and discussed.

The model is an interesting generic illustration for considering value vs cost in all patient care strategies. It enables the position of various medical procedures that can be applied to the same disease in order to keep the variations as minimum as possible within the quality control specification limits. The importance in different aspects of check-points or hold points for inspection is also discussed.

The purpose of this paper is to present a preliminary work on extracting band gap information of materials from academic papers. With increasing demand for renewable energy, band gap information will help material scientists design and implement novel photovoltaic (PV) cells.

The authors collected 1.44 million titles and abstracts of scholarly articles related to materials science, and then filtered the collection to 11,939 articles that potentially contain relevant information about materials and their band gap values. ChemDataExtractor was extended to extract information about PV materials and their band gap information. Evaluation was performed on randomly sampled information records of 415 papers.

The findings of this study show that the current system is able to correctly extract information for 51.32% articles, with partially correct extraction for 36.62% articles and incorrect for 12.04%. The authors have also identified the errors belonging to three main categories pertaining to chemical entity identification, band gap information and interdependency resolution. Future work will focus on addressing these errors to improve the performance of the system.

The authors did not find any literature to date on band gap information extraction from academic text using automated methods. This work is unique and original. Band gap information is of importance to materials scientists in applications such as solar cells, light emitting diodes and laser diodes.

The purpose of the paper is to offer some advancing in the understanding of the market-to-book value (MBV) gap (or ratio) as the symptom and the metrics for intellectual capital (IC) value, and to discuss the major criticisms against it. The original contribution of the paper lies in developing the analysis of the meaning of the MBV from a theory-of-the-firm perspective. Such an approach is employed to shed light on the two sides of MBV: book and market values.

The paper reviews research on MBV and the theory of the firm, employing a deductive approach that explores criticisms and advantages of the use of the MBV gap as the symptom and the metrics of IC according to a specific theory of the firm.

The paper finds that the presumption that an “accounting fallacy” exists, which refers to the gap between market and book values, must be revised depending on the chosen theory of the firm. In fact, depending on the theory of the firm to which IC scholars refer, book value could not necessarily equate to market value, even if the latter was unbiased. Again, market value could not be able to express the value of IC.

Implications of the paper are mainly for improving consistency in research, but they also support practice for consciousness and awareness. Limitations are the following. First, the paper offers an analysis of just three selected theories of the firm. Second, the analysis is based on a deductive reasoning that can be criticised for results even if not for the aim. Third, one could feel that an IC-centred theory of the firm does not yet exist at all.

Once reasons for abandoning the misbelief that accounting standards should be set in order to close the gap are highlighted, research on IC can move towards more appropriate goals. On the basis of the criticism presented in the paper, empirical research, which makes use of market and book data, could be carried out in a much more consistent way in relation to theoretical background. The paper highlights how the use of the MBV approach can lead to mistakes without a clear reference to the theory of the firm.

The paper focuses on the meaning of the MBV from a theory-of-the-firm perspective, assisting the researcher in avoiding potential mistakes and inconsistencies in their work, and also suggesting some consequences on the practice of IC.

To study the effect of Knightian uncertainty – as opposed to statistical estimation error – in the evaluation of value‐at‐risk (VaR) of financial investments. To develop methods for augmenting existing VaR estimates to account for Knightian uncertainty.

The value at risk of a financial investment is assessed as the quantile of an estimated probability distribution of the returns. Estimating a VaR from historical data entails two distinct sorts of uncertainty: probabilistic uncertainty in the estimation of a probability density function (PDF) from historical data, and non‐probabilistic Knightian info‐gaps in the future size and shape of the lower tail of the PDF. A PDF is estimated from historical data, while a VaR is used to predict future risk. Knightian uncertainty arises from the structural changes, surprises, etc., which occur in the future and therefore are not manifested in historical data. This paper concentrates entirely on Knightian uncertainty and does not consider the statistical problem of estimating a PDF. Info‐gap decision theory is used to study the robustness of a VaR to Knightian uncertainty in the distribution.

It is shown that VaRs, based on estimated PDFs, have no robustness to Knightian errors in the PDF. An info‐gap safety factor is derived that multiplies the estimated VaR in order to obtain a revised VaR with specified robustness to Knightian error in the PDF. A robustness premium is defined as a supplement to the incremental VaR for comparing portfolios.

The revised VaR and incremental VaR augment existing tools for evaluating financial risk.

Info‐gap theory, which underlies this paper, is a non‐probabilistic quantification of uncertainty that is very suitable for representing Knightian uncertainty. This enables one to assess the robustness to future surprises, as distinct from existing statistical techniques for assessing estimation error resulting from randomness of historical data.

This paper seeks to apply the SERVQUAL model to identify critical performance measures in the airline industry, exploring differences between Eastern and Western expectations of airline service quality and delivery.

Data from 263 effective questionnaire responses were collected from two locations – Taipei (Taiwan) and London (UK) – to compare differences between the well‐documented gap‐5 (between perceived and expected levels of service quality) values of respondents from these places of origin.

The paper generally finds that: there is a statistically significant difference between the perceived and expected levels of service quality in the airline industry; these are affected by such demographic factors as education, occupation and income levels (but not all that were examined); the SERVQUAL model's dimensions represent appropriately the airline industry; and the gap‐5 sizes of these quality dimensions have a significant impact on customer satisfaction and service value; but there does not seem to be a statistically significant difference between the gap‐5s of respondents from the two locations.

The paper limited the research to data from two locations, and makes a bold assumption that the two locations make adequate representations of views from the East and West.

Gap‐5 and general SERVQUAL analyses seem to apply well to the airline industry. Further, management effort need not be different for the delivery of service quality between Eastern and Western passengers/customers. The findings are generalizable to other sectors for which service quality is an important public sector concern (e.g. household utilities).

A generic framework is presented for how service quality dimensions, and issues of gap‐5, relate to overall service quality, customer satisfaction, and service value, in the passenger airline industry.

The purpose of this paper is to identify relevant gaps in human capital (HC) related to innovation performance, which might be the basis for creation of more effective innovation strategies.

The proposed approach contains the following four steps: HC survey, assessment of HC value drivers, identification of gaps related to the HC value drivers and recommendations for an innovation strategy based on identified gaps. The HC survey includes 554 managers from Serbian companies within seven different industries.

The biggest gaps in observed Serbian industries are related to crucial HC value drivers for innovation process, such as innovativeness, education and knowledge sharing and social skills.

Although there are limitations in measuring HC and innovation drivers, this approach seems to be valid in recommending more effective innovation strategies/policies on micro and macro level.

This research reveals potentials and barriers within HC in different Serbian industries, crucial to innovation, pointing to the initiatives which might improve innovation performance across Serbian industries. The identification of HC gaps across industries is valuable for gathering sounder intelligence of the sources of innovation and fine-tuning of national innovation strategy according to specific features of industries.

The proposed approach integrates a new perspective into current innovation measurement paradigm. It includes gaps within HC in the assessment of innovation performance, which might foster intangible innovation potential.

The purpose of this research is to propose a systematic and integrative approach for evaluating, assessing, analysing, and improving service quality and effectiveness.

A new approach is proposed, in which SERVQUAL and overall administration effectiveness (OAE) are integrated. The recycling pavilion service process of Isfahan municipality is examined. By distributing 120 questionnaires containing the 22 questions of the SERVQUAL instrument developed by Parasuraman et al. in four pavilions of four different regions of the city of Isfahan, the services quality gap was measured and the OAE indicator performance was calculated. In OAE, the quality ratio was measured based on the quality gap, and performance and availability ratios were measured based on the characteristics of the recycling pavilion services.

The empirical findings imply that the application of the proposed approach has resulted in a reduction of 0.59 of the gap average and a 36 per cent improvement of the OAE indicator.

While a general approach is proposed for service application, the results of the case study may not be generalisable.

The proposed approach of this study presents a method for simultaneous analysis of service quality and effectiveness.