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Article
Publication date: 19 April 2022

Kevin Sweeney, Jason Riley and Yongrui Duan

The paper aims to empirically investigate how demand variability impacts product category inventory levels and stockout rates of retail firms. Additionally, the moderating…

Abstract

Purpose

The paper aims to empirically investigate how demand variability impacts product category inventory levels and stockout rates of retail firms. Additionally, the moderating effect of product variety on these performance metrics is explored.

Design/methodology/approach

Using data from 78 individual retail stores of a single firm located in China, the authors develop a three stage least squares regression model to examine the simultaneous impact of product variety and demand variability on product inventory levels and stockout rates.

Findings

The results indicate that product variety and demand variability both negatively influence product category inventory levels and stockout rates. However, contrary to results for manufacturing or distributor environments, product variety dampens the negative relationship between demand variability and inventory.

Practical implications

For products or categories with a high amount of demand variability, retailers can leverage more product variety to help improve their inventory performance. This is likely due to product substitution behaviors.

Originality/value

The authors show that previously examined relationships between product variety, demand variability, and firm performance are different in the retail environment than in the manufacturing or distributor context.

Details

International Journal of Physical Distribution & Logistics Management, vol. 52 no. 4
Type: Research Article
ISSN: 0960-0035

Keywords

Article
Publication date: 25 November 2021

Divine Odame Appiah, Felix Asante, Lois Antwi-Boadi and Richard Serbeh

This paper aims to examine elderly smallholder farmers’ perceptions of and adaptation to climate variability and change in the Offinso Municipality, Ghana.

Abstract

Purpose

This paper aims to examine elderly smallholder farmers’ perceptions of and adaptation to climate variability and change in the Offinso Municipality, Ghana.

Design/methodology/approach

This paper used quantitative and qualitative methods. Quantitative data were analyzed with frequencies and chi-square tests, whereas qualitative data were thematically analyzed.

Findings

The results showed that elderly smallholder farmers’ knowledge of climate variability and climate change were based on their sex, level of formal education and experience in farming. Elderly smallholder farmers adopted both on-farm and off-farm strategies to cope with climate change and variability. The vulnerability of elderly smallholder farmers to climate change calls for social protection mechanisms such as a pension scheme that guarantees access to monthly cash transfers. Such a scheme will ease constraints to livelihood and ensure improved well-being.

Originality/value

Elderly smallholder farmers have remained invisible in discourses on perceptions and adaptation to climate change despite the surge in number of this category of farmers. This paper therefore represents an attempt to highlight the experiences of elderly smallholder farmers with climate variability and change.

Details

Working with Older People, vol. 26 no. 2
Type: Research Article
ISSN: 1366-3666

Keywords

Open Access
Article
Publication date: 23 August 2021

Waqas Mehmood, Rasidah Mohd-Rashid, Chui Zi Ong and Yasir Abdullah Abbas

The objectives of this study are twofold. First, it intends to investigate the symmetric link between initial public offering (IPO) variability and the determinants of the…

Abstract

Purpose

The objectives of this study are twofold. First, it intends to investigate the symmetric link between initial public offering (IPO) variability and the determinants of the stock market index, treasury bill rate, inflation, GDP growth rate and foreign direct investment. Second, this study intends to examine the asymmetric link between IPO variability and the aforementioned determinants, namely the stock market index, treasury bill rate, inflation, GDP growth rate and foreign direct investment.

Design/methodology/approach

Data from 1992 to 2018 were gathered from the country of Pakistan in order to achieve the above objectives. Augmented Dickey–Fuller (ADF) and Phillips Perron (PP) unit root tests were employed to determine the data's stationarity properties. The Auto Regressive Distributive Lags (ARDL) model was utilized to examine the symmetric links, and the Non-Linear Auto Regressive Distributive Lag Model (NARDL) was employed to determine the asymmetric links. While the long-run co-integration was examined using the ARDL bound test, the short-run dynamics were tested using the error correction method (ECM).

Findings

The macroeconomic variables of the stock market index, treasury bill rate, inflation, GDP growth rate and foreign direct investment are found to pose significant short-run and long-run symmetric and asymmetric effects on IPO variability. These results indicate the significance of the aforementioned variables in enhancing IPO variability. The findings also demonstrate the typical reactions of inflation, GDP and FDI towards negative and positive shocks in IPO variability and inflation. This evidence implies that Pakistan's poor capital market development is reflected in the country's weak macroeconomic factors. At the same time, the reduced IPO variability in the country also reflects the lack of confidence among prospective issuers and investors due to Pakistan's weak macroeconomic indicators.

Originality/value

This is the first study of its kind to properly investigate the symmetric and asymmetric effects of the macroeconomic variables on Pakistan's IPO variability.

Details

Journal of Economics, Finance and Administrative Science, vol. 26 no. 52
Type: Research Article
ISSN: 2218-0648

Keywords

Article
Publication date: 24 December 2020

Peng Huang and Yue Lu

We examine the effect of institutional blockholders on the variability of firm performance.

Abstract

Purpose

We examine the effect of institutional blockholders on the variability of firm performance.

Design/methodology/approach

We use OLS regression models to estimate the effect of institutional blockholders on within-firm, over-time variability of firm performance.

Findings

We find that firms with more institutional blockholders experience less variable firm performance. In particular, more institutional blockholders are associated with less variability of annual stock returns, ROA and the market-to-book ratio. We further explore several underlying mechanisms through with institutional blockholders reduce firm performance variability. We find that more institutional blockholders are associated with less variable capital expenditures and R&D investments, and less frequent acquisition activities.

Research limitations/implications

A limitation of this paper is that our sample period only covers 1996–2006. Future studies can extend our research to a more recent period (e.g. 2009–2019) to test whether our findings remain valid in other periods.

Practical implications

We document a significant relation between institutional blockholders and firm performance variability in this paper. However, we do not make any judgment as to whether firms should increase their institutional blockholders as it is unclear whether the caused reduction in risk-taking is socially efficient. We argue that the value implication of institutional blockholders depends on the existing blockholder structure and the different levels of risk appetite between the CEO and shareholders. Thus, the decision on the increase or decrease of institutional blockholders should be carefully made based on a firm’s specific characteristics.

Originality/value

This paper is a first study which examines the impact of the presence of institutional blockholders on the variability of firm performance, while most prior studies focus on the stock ownership of institutional blockholders and examine its impact on the level of firm performance.

Details

International Journal of Managerial Finance, vol. 18 no. 1
Type: Research Article
ISSN: 1743-9132

Keywords

Open Access
Article
Publication date: 26 May 2021

Olona Mtintsilana, Babatope Ebenezer Akinyemi and Leocadia Zhou

This paper aims to determine factors affecting adaptation to climate variability on crop production among farming households in Tyhume Valley.

Abstract

Purpose

This paper aims to determine factors affecting adaptation to climate variability on crop production among farming households in Tyhume Valley.

Design/methodology/approach

This study conducted an empirical analysis of the impact of adaptation on crop yield of farming households and estimated the factors affecting adaptation to climate variability on farming households. The analysis used primary data from 205 farming households practicing crop production in Tyhume Valley communities.

Findings

Based on binary logit results, factors affecting rural farming households’ adaptation to climate variability are gender, age, heatwave, employment status, strong high wind occasional experience and cell phone. The adaptation measures adopted by the farming households in the study area include irrigation (94.8%), crop rotation (66%), changing crop variety (7.4%) and other methods of adaptation were found to be (1.3%). The other methods of adaptation used included the use of ash to kill (intuku) mole and using dirty water from washing dishes and clothes when irrigating to kill parasites on crops.

Originality/value

This research paper will be an addition to the body of knowledge on adaptation strategies to climate variability in South Africa, especially at the rural farming household level. This study may assist the rural communities in decision-making when dealing with the challenges of climate variability on their crop production, thereby increasing their crop production. The information gathered in this study might assist policymakers in revising the existing policies. This study will also help rural farming households to practice appropriate adaptation strategies.

Details

International Journal of Climate Change Strategies and Management, vol. 13 no. 2
Type: Research Article
ISSN: 1756-8692

Keywords

Article
Publication date: 13 March 2017

Yen-Chun Chen, Yung-Cheng Shen, Crystal Tzu-Ying Lee and Fu-Kai Yu

The purpose of this paper is to develop and validate a multidimensional hierarchical scale for measuring “e-service quality variation.”

1725

Abstract

Purpose

The purpose of this paper is to develop and validate a multidimensional hierarchical scale for measuring “e-service quality variation.”

Design/methodology/approach

Based on the psychometric scale-development approach, qualitative and quantitative methods were employed to develop the e-SERVAR scale. A multidimensional hierarchical factor structure of e-SERVAR is proposed, along with a set of preliminary items derived from literature and the qualitative study. Furthermore, the Yahoo website in Taiwan was chosen to be the target e-service website for data collection to develop the e-SERVAR scale. A series of statistical methods (i.e. item-to-total correlations, exploratory factor analyses, CFAs and structural equation modeling) were adopted to verify construct reliability and validity as well as nomological validity of the scale.

Findings

A 41-item e-SERVAR scale based on the structure of a hierarchical factor model was developed that contains three primary dimensions (i.e. information, system and fulfillment) and nine subdimensions (information accuracy, information quantity, information timeliness, information usefulness, system reliability, system security, merchandise quality, merchandise delivery timeliness and merchandise security).

Practical implications

The results of this study help managers identify sources of quality variability and design efficacious strategies to reduce such variability in order to improve the overall e-service quality.

Originality/value

Prior research of e-service quality has paid less attention to the role of e-service quality variability. Discussion of e-service quality variability was mainly conceptual in nature. This research presents the e-SERVAR scale as a measurement tool that provides a new avenue for researchers to study how to improve e-service quality by measuring service variability.

Details

Journal of Service Theory and Practice, vol. 27 no. 2
Type: Research Article
ISSN: 2055-6225

Keywords

Article
Publication date: 3 July 2017

Simone Severini, Antonella Tantari and Giuliano Di Tommaso

The purpose of this paper is to assess how direct payments (DPs) of the Common Agricultural Policy affect income and revenue variability faced by Italian farmers.

Abstract

Purpose

The purpose of this paper is to assess how direct payments (DPs) of the Common Agricultural Policy affect income and revenue variability faced by Italian farmers.

Design/methodology/approach

Balanced farm-level panel data are used to construct coefficients of variation over the period 2003-2012. Nonlinear robust regression techniques are used to measure the effect of DP, farm size, fixity in resources, labor intensity, farm production orientation, and specialization on the variability of farm income (FI) and farm revenue. This is done on the overall sample as well as on subsamples of farms located in different regions and belonging to different types of farming.

Findings

DPs have mixed effects on the variability of FI. While a negative and significant relationship is found on the whole national sample, this is not generally the case when models are run on the considered subsamples. On the contrary, DPs have always significant variability increasing effects on revenue. This suggests that DPs reduce the degree of risk that farmers face allowing them to engage in riskier activities. Thus, DPs are less effective than expected in terms of income stabilization because these distort farmers’ risk management behavior. Because of this, DPs could constrain the development of markets for risk management instruments and reduce the effectiveness of policies supporting the use of these instruments.

Originality/value

The analysis is inspired by El Benni et al. (2012) but uses a different approach, applies it to a different country, and yields different results. Volatility measures are calculated over more years, and the paper accounts for differences in farm production orientation and is not based on an unbalanced panel of farms. Because of these differences, the authors obtained different results regarding the correlation between DP and income and, even more, revenue variability. Finally, comparing the results of models referring to FI and farm revenue improves the author’s understanding of the impact of DP on farmers’ risk management behavior and allows interesting policy considerations.

Details

Agricultural Finance Review, vol. 77 no. 2
Type: Research Article
ISSN: 0002-1466

Keywords

Article
Publication date: 1 December 2005

Göran Svensson

This paper seeks to describe a conceptualisation of the multiple facets of the bullwhip effect between stocking levels within and between value chains and value systems.

3875

Abstract

Purpose

This paper seeks to describe a conceptualisation of the multiple facets of the bullwhip effect between stocking levels within and between value chains and value systems.

Design/methodology/approach

The paper provides a conceptual discussion of the bullwhip effect. It is refined and re‐defined.

Findings

The bullwhip effect has usually been explored between inter‐organisational stocking levels. Recently, it has also been explored within intra‐organisational stocking levels. A broader descriptive framework is introduced, one that positions the bullwhip effect construct in intra‐ and inter‐organisational, as well as intra‐ and inter‐channel, stocking levels in and between value chains and value systems.

Research limitations/implications

A research agenda is provided that goes beyond current definitional boundaries and state‐of‐the‐art research of the bullwhip effect.

Practical implications

The refined and re‐defined bullwhip effect is of interest to practitioners. It considers inter‐organisational and intra‐organisational stocking levels. In addition, it considers intra‐ and inter‐channel stocking levels. It is of great concern to achieve best practices in business.

Originality/value

The principal contributions are – a dynamics model of the bullwhip effect construct; a principle of stocking level variability; a typology of stocking level variability; a framework that describes different levels of analysis of the bullwhip effect; and a re‐definition of the bullwhip effect construct – within or between value chains and value systems.

Details

International Journal of Physical Distribution & Logistics Management, vol. 35 no. 10
Type: Research Article
ISSN: 0960-0035

Keywords

Article
Publication date: 11 October 2011

Paul Chapman, Michael Bernon and Paul Haggett

This research seeks to identify and apply techniques that can be used in a supply chain context to diagnose the causes of variability in delivery lead time.

2011

Abstract

Purpose

This research seeks to identify and apply techniques that can be used in a supply chain context to diagnose the causes of variability in delivery lead time.

Design/methodology/approach

A literature review was conducted and a number of quality management (QM), techniques were selected as candidates for diagnosing delivery time variability. A case study of the application of these techniques is provided on the UK‐based defence supply chain that supported UK operations in the Iraq war of 2003.

Findings

Candidate QM techniques for diagnosing delivery time variability were identified, namely: Process Chart; Histogram; Failure Mode and Effect Analysis; and Cause and Effect Analysis. These techniques were successful in enabling the diagnosis of the causes of delivery time variability in the context of the case study investigated.

Practical implications

The work illustrates how QM techniques can be employed to address issues with supply chains, not least with regard to the important problem of variability in delivery leadtime. In practice, this highlights benefits that result to practitioners in order to improve the performance of operations in a dynamic setting, such as the defence supply chain studied here.

Originality/value

This work has value in presenting the findings of an in‐depth case study on the application of QM techniques in a multi‐echelon supply chain setting. It is also original in employing the FMEA technique together with an end‐customer perspective to assess the effect of failure modes in operations across a supply chain. FMEA also provided the means to examine supply chain risk, thus providing a research instrument for deploying risk as a lens. The application of QM techniques in this novel setting provides support for their application beyond the conventional setting of internal operations.

Details

International Journal of Quality & Reliability Management, vol. 28 no. 9
Type: Research Article
ISSN: 0265-671X

Keywords

Article
Publication date: 5 September 2016

Jason Loughrey and Thia Hennessy

The purpose of this paper is to identify the potential relationship between farm income variability and off-farm employment decisions in the short and medium term for the…

Abstract

Purpose

The purpose of this paper is to identify the potential relationship between farm income variability and off-farm employment decisions in the short and medium term for the case of Irish farm operators.

Design/methodology/approach

Panel probit models of off-farm labour supply are estimated using Teagasc National Farm Survey data for Irish farms. The framework is based largely on standard expected utility but includes a constraint for recent employment history.

Findings

The analyses identifies some evidence of a positive association between farm income variability and off-farm employment in the medium term but no significant relationship in the short term. This suggests that off-farm employment is part of a wider portfolio decision but is not a strong solution to short-term farm income shocks.

Practical implications

European farmers increasingly face high income variability but financial risk management tools are not sufficiently developed or widely accessible to assist farmers in managing the associated risk. This deficiency can have negative implications for household economic welfare and future farm investments and hence the future farm income. Off-farm employment can form part of a wider medium-term portfolio strategy but more effective tools are also required for risk management particularly in dealing with short-term volatility and where off-farm employment is not a realistic endeavour given time constraints and/or demographics.

Originality/value

The estimation of farm income variability includes a detrending method thus reducing the likelihood of overestimating farm income variability for farms in deliberate expansion or decline. While previous research has typically focused on the short-term response of farmers to historical farm income variability, this research has distinguished between the short and medium term.

Details

Agricultural Finance Review, vol. 76 no. 3
Type: Research Article
ISSN: 0002-1466

Keywords

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