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Purpose – The purpose of this research is to know the public discovery of the concept of time value of money with economic value of time.

Design/Methodology/Approach – The method of research involved a causal research design in North Sumatera Province, Indonesia. The data used are primary data sourced from questionnaires distributed to 112 random respondents. Data were analyzed using the SEM method with Smart PLS software.

Findings – The results show that the public do not know exactly the application and the concept of “time value of money” and the economic value of time.

Research Limitations/Implications – The limitation of this study is that it was conducted on heterogeneous Medan city samples and did not extend to other cities in North Sumatra with large samples. The study has implications on the socialization of the community’s understanding of the concept of time value of money with the economic value of time.

Originality/Value – This study has value in that it compares the understanding of the society over the concept model of time value of money and the economic value of time.

This study aims to present a new approach to measuring the economic value of special libraries, including certain time‐saving effects that the contingent valuation method application cannot exclusively prove.

A cost‐benefit analysis is used as a tool to determine whether the benefits of special libraries outweigh the cost incurred in providing the services. The benefits of such libraries are based on estimates of how much the user is willing to pay for the service, as well as the cost of time saved as a result of his contact with library services. A case study was conducted to show how special libraries could apply the proposed model to their library setting to measure the value of the library's services.

According to the case study involving the KDI School Library, the economic value of its library services measured in terms of a B/C ratio was 1.97, serving as strong justification for the library's existence.

This study is more specific and accurate than previous studies in that it enables an individual analysis for each service special libraries offer and focuses on the types of benefit derived. It is hoped that the model will help analyze the strength of each library service as well as the total economic value of the library.

This article analyzes the relationships between different conceptions of time, socioeconomic development and cultural values.

We focus on three major aspects of time, namely, 1) duration, 2) orientation and 3) tempo. Furthermore, we draw on modernization theory to distinguish between agrarian/traditional and industrial/modern societies and their respective cultural values.

Analyses indicate that agrarian/traditional societies with cultural values such as collectivism, survival, religiosity and hierarchical structures are marked by subjective/cyclical/inaccurate, past-oriented and slow-paced conceptions of time. In contrast, industrial/modern societies with cultural values such as individualism, self-expression, secularism and egalitarianism are marked by objective/linear/accurate, future-oriented and accelerated conceptions of time.

This paper introduces an original conceptualization of the three dimensions of time – duration, orientation and tempo – previously overlooked in the literature. Additionally, it provides an in-depth and comprehensive analysis of the relationships between time, culture and socioeconomic development.

Contemporary literature reveals that, to date, the poultry livestock sector has not received sufficient research attention. This particular industry suffers from unstructured supply chain practices, lack of awareness of the implications of the sustainability concept and failure to recycle poultry wastes. The current research thus attempts to develop an integrated supply chain model in the context of poultry industry in Bangladesh. The study considers both sustainability and supply chain issues in order to incorporate them in the poultry supply chain. By placing the forward and reverse supply chains in a single framework, existing problems can be resolved to gain economic, social and environmental benefits, which will be more sustainable than the present practices.

The theoretical underpinning of this research is ‘sustainability’ and the ‘supply chain processes’ in order to examine possible improvements in the poultry production process along with waste management. The research adopts the positivist paradigm and ‘design science’ methods with the support of system dynamics (SD) and the case study methods. Initially, a mental model is developed followed by the causal loop diagram based on in-depth interviews, focus group discussions and observation techniques. The causal model helps to understand the linkages between the associated variables for each issue. Finally, the causal loop diagram is transformed into a stock and flow (quantitative) model, which is a prerequisite for SD-based simulation modelling. A decision support system (DSS) is then developed to analyse the complex decision-making process along the supply chains.

The findings reveal that integration of the supply chain can bring economic, social and environmental sustainability along with a structured production process. It is also observed that the poultry industry can apply the model outcomes in the real-life practices with minor adjustments. This present research has both theoretical and practical implications. The proposed model’s unique characteristics in mitigating the existing problems are supported by the sustainability and supply chain theories. As for practical implications, the poultry industry in Bangladesh can follow the proposed supply chain structure (as par the research model) and test various policies via simulation prior to its application. Positive outcomes of the simulation study may provide enough confidence to implement the desired changes within the industry and their supply chain networks.

Current US tax laws provide investors an incentive to time the sales of their bonds to minimize tax liability. This gives rise to a tax-timing option that affects bond value. In reality, corporate bond investors’ tax-timing strategy is complicated by risk of default. Existing term structure models have ignored the effect of the tax-timing option, and how much corporate bond value is due to the tax-timing option is unknown. In this chapter, we assess the effects of taxes and stochastic interest rates on the timing option value and equilibrium price of corporate bonds by considering discount and premium amortization, multiple trading dates, transaction costs, and changes in the level and volatility of interest rates. We find that the value of the tax-timing option accounts for a substantial proportion of corporate bond price even when interest rate volatility is low. Ignoring the timing option value results in overestimation of credit spread, and underestimation of default probability and the marginal investor’s income tax rate. These estimation biases generally increase with bond maturity and credit risk.

Online ride-hailing platforms match drivers with passengers by receiving ride requests from passengers and forwarding them to the nearest driver. In this context, the low acceptance rate of offers by drivers leads to friction in the process of driver and passenger matching. What policies by the platform may increase the acceptance rate and by how much? What factors influence drivers' decisions to accept or reject offers and how much? Are drivers more likely to turn down a ride offer because they know that by rejecting it, they can quickly receive another offer, or do they reject offers due to the availability of outside options? This paper aims to answer such questions using a novel dataset from Tapsi, a ride-hailing platform located in Iran.

The authors specify a structural discrete dynamic programming model to evaluate how drivers decide whether to accept or reject a ride offer. Using this model, the authors quantitatively measure the effect of different policies that increase the acceptance rate. In this model, drivers compare the value of each ride offer with the value of outside options and the value of waiting for better offers before making a decision. The authors use the simulated method of moments (SMM) method to match the dynamic model with the data from Tapsi and estimate the model's parameters.

The authors find that the low driver acceptance rate is mainly due to the availability of a variety of outside options. Therefore, even hiding information from or imposing fines on drivers who reject ride offers cannot motivate drivers to accept more offers and does not affect drivers' welfare by a large amount. The results show that by hiding the information, the average acceptance rate increases by about 1.81 percentage point; while, it is 4.5 percentage points if there were no outside options. Moreover, results show that the imposition of a 10-min delay penalty increases acceptance rate by only 0.07 percentage points.

To answer the questions of the paper, the authors use a novel and new dataset from a ride-hailing company, Tapsi, located in a Middle East country, Iran and specify a structural discrete dynamic programming model to evaluate how drivers decide whether to accept or reject a ride offer. Using this model, the authors quantitatively measure the effect of different policies that could potentially increase the acceptance rate.

This study aims to investigate the mediating role of lean management on the relationship between workforce management and value-added time in private hospitals. This study also investigates the direct influences of workforce management and lean management on the value-added time of the hospitals.

This study applied a quantitative approach to obtain data from the private hospitals’ staff in Peninsular Malaysia. A self-administered survey questionnaire was used to collect data from 287 hospital staff using a stratified random sampling method. The partial least squares structural equation modeling (PLS-SEM) approach was used to determine the internal consistency, reliability, validity of the constructs. The PLS-SEM method was also used to test the hypothesised research model via SmartPLS 3.3.4 version.

The findings of the study indicate that lean management has a direct and significant effect on the value-added time of private hospitals. The findings also revealed that lean management significantly mediates the relationship between workforce management and value-added time in private hospitals. The analysis of the results indicates that both workforce and lean management have a significant impact on the value-added time of the hospitals.

This study provides empirical contributions to enhance the quality of workforce management, lean management and value-added time. The findings of this study provide valuable insights into how effectively managing the workforce and providing guidelines to augment the lean management practices can ensure value-added time in Malaysian hospitals and the overall health-care industry. The lean management framework provides useful insights for the policymakers to understand the significance of workforce management, lean management on ensuring value-added time through reducing waiting times, unnecessary delays, generating a higher degree of patient safety, satisfaction and loyalty.

The research findings provide some essential indications for the health-care service providers to understand how the lean management approach can be implemented to enhance value-added time and how lean management can play a mediating role in creating a link between workforce management and value-added time in hospitals. This study also contributes to the theoretical and practical perspectives. The present study contributes to a better understanding of workforce management and lean management in health-care sectors from theoretical and practical perspectives.

This paper aims to discuss the sequence-dependent forward setup time (FST) and backward setup time (BST) consideration for the first time in two-sided assembly lines. Sequence-dependent FST and BST values must be considered to compute all of the operational times of each station. Thus, more realistic results can be obtained for real-life situations with this new two-sided assembly line balancing (ALB) problem with setups consideration. The goal is to obtain the most suitable solution with the least number of mated stations and total stations.

The complex structure it possesses has led to the use of certain assumptions in most of the studies in the ALB literature. In many of them, setup times have been neglected or considered superficially. In the real-life assembly process, potential setup configurations may exist between each successive task and between each successive cycle. When two tasks are in the same cycle, the setup time required (forward setup) may be different from the setup time required if the same two tasks are in consecutive cycles (backward setup).

Algorithm steps have been studied in detail on a sample solution. Using the proposed algorithm, the literature test problems are solved and the algorithm efficiency is revealed. The results of the experiments revealed that the proposed approach finds promising results.

The sequence-dependent FST and BST consideration is applied in a two-sided assembly line approach for the first time. A genetic algorithm (GA)-based algorithm with ten different heuristic rules was used in this proposed model.