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Article
Publication date: 5 August 2019

Baomei Ma, Sifeng Liu, Jian Liu and Yuning Wang

This paper aims to study the corresponding optimal service strategies and pricing in the styled non-preemptive M/M/1 service systems from different objectives, which…

Abstract

Purpose

This paper aims to study the corresponding optimal service strategies and pricing in the styled non-preemptive M/M/1 service systems from different objectives, which consider both heterogeneous waiting costs of customers and service values in customer segmentation.

Design/methodology/approach

In this paper, the authors consider two service situations where customers cannot leave the service system (i.e. monopoly service system) and customers can leave the service system freely (i.e. non-monopoly service system), respectively. The authors study the following four different perspectives that are revenue, social welfare, social cost and utility of customers. The authors first build up a new model, then propose the related objective functions. Further, the authors optimize the corresponding functions and achieve the optimal results. Later, the authors propose the corresponding optimal strategies. Finally, the authors use a practical numerical case to verify the proposed results.

Findings

The results of this paper indicates that the service provider should adopt classification services to gain the maximum revenue, the maximum social welfare and the minimum social costs by charging a priority fee in above two service systems. However, the service provider should cancel customer classification and keep regular customer only to obtain maximum utility. In the monopoly service system, both the optimal proportion priority customers and the revenue decrease with the increasing of the service rate, while in a non-monopoly service system, both of them are increasing with the service rate improving.

Originality/value

This paper first considers both heterogeneity of service values and waiting costs in queuing system, then the author set up a new model based on this assumption. Moreover, the authors draw the corresponding management insights based on the optimal results, which were unavailable before.

Details

Kybernetes, vol. 48 no. 10
Type: Research Article
ISSN: 0368-492X

Keywords

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Article
Publication date: 16 December 2019

Yuning Wang and Xiaohua Jin

City investment companies (CICs) in China, set up and funded by the government, are playing an important role in the construction of urban infrastructure in China. The…

Abstract

Purpose

City investment companies (CICs) in China, set up and funded by the government, are playing an important role in the construction of urban infrastructure in China. The purpose of this paper is to analyze the structural risk of diversified project financing of CICs and explore its key influencing factors.

Design/methodology/approach

The best worst method (BWM) is used in this study to empirically analyze and quantitatively study the optimization of the structural risk of diversified financing of CICs.

Findings

In this study, the structural risk of diversified financing of CICs has been clearly defined, and its key evaluation indexes, including the structure of projects, the structure of financing, asset-liability ratio, earnings before interest and tax margin, the rate of return on capital and the ratio of long-term debt and short-term debt, have been determined. What is more, a comprehensive evaluation system of the structural risk of diversified financing has been established.

Originality/value

This study has established a comprehensive evaluation system of the structural risk of diversified financing. Based on the validated systematic evaluation, comparison and ranking of the structural risk of diversified financing of CICs by using the BWM, the ranking results can help investors to select the CICs with small structural risk of diversified financing to invest.

Details

Engineering, Construction and Architectural Management, vol. 28 no. 1
Type: Research Article
ISSN: 0969-9988

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Article
Publication date: 29 May 2019

Hui Sun, Yuning Wang and Jia Meng

The purpose of this paper is to develop a trading and pricing method of expansion option (EO) model to solve expansion problems of build-operate-transfer (BOT) freeway project.

Abstract

Purpose

The purpose of this paper is to develop a trading and pricing method of expansion option (EO) model to solve expansion problems of build-operate-transfer (BOT) freeway project.

Design/methodology/approach

This paper proposes an ex ante mechanism through trading the EO to avoid the transaction costs. By editing the paths generated from binomial option pricing model, this paper establishes an American real option binomial lattice model and evaluates the value of EO. Data are collected from Liaoning province in China and the model is practiced in the context of a BOT freeway in Liaoning province.

Findings

Supported by empirical evidence, this study finds out that there exists a minimum price at which the government can sell the EO and a maximum price that the private sector is willing to pay. When the minimum price is negative, the government should transfer the EO to the private sector free of charge to avoid the transaction costs. Otherwise, the government should sell the EO at a reasonable price to protect public interests.

Practical implications

The study can be used for the government to reducing the transaction costs. By using the trading EO model, the government can sell its share of the EO to the private sector to manage its resources efficiently.

Originality/value

This paper builds a trading EO model to solve expansion problems instead of renegotiations. In addition to reducing the transaction costs for the whole society, trading EO can also raise the respective payoffs of both public and private sectors. An EO trading framework and algorithm is further developed. It realized an American option model, making the owner can exercise the option whenever he wants. Thus, the whole model is adapted to best fit BOT highway practice.

Details

Engineering, Construction and Architectural Management, vol. 26 no. 7
Type: Research Article
ISSN: 0969-9988

Keywords

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Article
Publication date: 21 June 2019

Yuning Wang and Xiaohua Jin

Various factors may influence project finance when a multi-sourced debt financing strategy is used for financing capital investments, in general, and public infrastructure…

Abstract

Purpose

Various factors may influence project finance when a multi-sourced debt financing strategy is used for financing capital investments, in general, and public infrastructure investments, in particular. Traditional indicators lack comprehensive consideration of the influences of many internal and external factors, such as investment structure, financing mode and credit guarantee structure, which exist in the financing decision making of BOT projects. An effective approach is, thus, desired. The paper aims to discuss these issues.

Design/methodology/approach

This paper develops a financial model that uses an interval number to represent the uncertain factors and, subsequently, conducts a standardization of the interval number. Decision makers determine the weight of each objective through the analytic hierarchy process. Through the optimization procedure, project investors and sponsors are provided with a strategy regarding the optimal amount of debt to be raised and the insight on the risk level based on the net present value, as well as the probability of bankruptcy for each different period of debt service.

Findings

By using an example infrastructure project in China and based on the comprehensive evaluation, comparison and ranking of the capital structures of urban public infrastructure projects using the interval number method, the final ranking can help investors to choose the optimal capital structure for investment. The calculation using the interval number method shows that X2 is the optimal capital structure plan for the BOT project of the first stage of Tianjin Binhai Rail Transit Z4 line. Therefore, investors should give priority to selecting a capital contribution ratio of 45 per cent for this investment.

Research limitations/implications

In this paper, some parameters, such as depreciation life, construction period and concession period, are assumed to be deterministic parameters, although the interval number model has been introduced to analyze the uncertainty indicators, such as total investment and passenger flow, of BOT rail transport projects. Therefore, more of the above deterministic parameters can be taken as uncertainty parameters in future research so that calculation results fit actual projects more closely.

Originality/value

This model can be used to make the optimal investment decision for a project by determining the impact of uncertainty factors on the profitability of the project in its lifecycle during the project financial feasibility analysis. Project sponsors can determine the optimal capital structure of a project through an analysis of the irregular fluctuation of the unpredictable factors in project construction such as construction investment, operating cost and passenger flow. The model can also be used to examine the effects of different capital investment ratios on indicators so that appropriate measures can be taken to reduce risks and maximize profit.

Details

Engineering, Construction and Architectural Management, vol. 26 no. 7
Type: Research Article
ISSN: 0969-9988

Keywords

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Article
Publication date: 1 April 1999

Wang Bo, Luo Yimei and Wang Yuning

This paper improved the self‐adaptive filter‐forecasting model that is one of deterministic constant parameter forecasting models. An attenuation/gain function is drawn…

Abstract

This paper improved the self‐adaptive filter‐forecasting model that is one of deterministic constant parameter forecasting models. An attenuation/gain function is drawn into a direct iteration search method that belongs to the multi‐variables extreme value research based on the optimization theory, so that it combines the quantitative methods with the qualitative analysis by the experts and increases the explanatory ability and simulation level of the original model. As an empirical study, the authors applied the improved method to the forecasting of the middle‐term demand for cellular phones in China.

Details

Integrated Manufacturing Systems, vol. 10 no. 2
Type: Research Article
ISSN: 0957-6061

Keywords

Content available
Article
Publication date: 14 July 2020

Yuning Zhao, Xinxue Zhou and Tianmei Wang

Following Hovland’s persuasion theory, this paper aims to develop a conceptual model and analyzes characteristics of online political deliberation behavior from three…

Abstract

Purpose

Following Hovland’s persuasion theory, this paper aims to develop a conceptual model and analyzes characteristics of online political deliberation behavior from three aspects (i.e. information, situation and manager). Based on the whole interactive process of online political deliberation, this paper aims to reveal the key points that affect the response effect of the government from the persuasive perspective of online political consultation.

Design/methodology/approach

Based on more than 40,000 netizens’ posts and government responses from 2011 to the first half of 2019 of the Chinese political platform, this paper used the text analysis and machine learning methods to extract measurement variables of online political deliberation characteristics and the econometrics analysis method to conduct empirical research.

Findings

The results showed that the textual information, political environment and identity of the political objects affect the effectiveness of government response. Furthermore, for different position categories of political officials, the length of political texts, topic categories and emotional tendencies have different effects on the response effectiveness. Additionally, the effect of political time on the effectiveness of response differs.

Originality/value

The findings will help ascertain the characteristics of online political deliberation behavior that affect how effective government response is and provide a theoretical basis for why the public should express their political concerns.

Details

International Journal of Crowd Science, vol. 4 no. 3
Type: Research Article
ISSN: 2398-7294

Keywords

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Article
Publication date: 15 June 2021

Fei-Lin Chen, Ivan Sun, Yuning Wu and Shun-Yung Kevin Wang

This paper aims to assess whether internal procedural justice is directly and indirectly through self-legitimacy connected to external procedural justice among Taiwanese…

Abstract

Purpose

This paper aims to assess whether internal procedural justice is directly and indirectly through self-legitimacy connected to external procedural justice among Taiwanese police officers.

Design/methodology/approach

Survey data used in this study were collected from 316 Taiwanese police officers in 2019. Structural equation modeling was performed to examine the direct and indirect relationships between internal and external procedural justice.

Findings

Supervisors' internal procedural justice is directly related to the external procedural justice rendered to the public by police officers. Internal procedural justice also directly enhances officers' perceptions of internal legitimacy and external legitimacy. Greater senses of internal legitimacy are then accompanied by higher external procedural justice.

Research limitations/implications

Survey data collected from a non-random sample of officers limit the study findings' generalizability. Organizational justice in the form of supervisory justice is instrumental in promoting officers' perception of self-legitimacy and their delivery of fair treatment to the public.

Originality/value

The present study represents a first attempt to link two important veins of studies in recent policing literature, organizational justice and officer self-legitimacy. This study provides needed evidence to support the value of supervisory justice in policing in a non-Western democracy.

Details

Policing: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1363-951X

Keywords

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Article
Publication date: 26 August 2020

Yuning Wu, Kai Lin, Luye Li and Xiying Wang

The purpose of this paper is to examine Chinese police officers’ general support for police intervention into domestic violence, emphasizing adequate protection of the…

Abstract

Purpose

The purpose of this paper is to examine Chinese police officers’ general support for police intervention into domestic violence, emphasizing adequate protection of the victims, and specific support for utilizing arrests to deal with the offenders.

Design/methodology/approach

This study relies on survey data collected from 1,064 police officers who worked in multiple areas in two provinces of China between June and July of 2019. OLS models were used to test whether organizational variables are significant predictors of officer attitudes toward domestic violence intervention.

Findings

Both agency endorsement and supervisory support are positively related to officers’ favorable attitudes toward police intervention into domestic violence and using arrests to handle offenders. The amount of training received from the agency on the recently promulgated Anti-Domestic Violence Law, however, has a negative influence on officer support for general intervention into domestic violence and no influence on officer attitudes toward arrests.

Originality/value

This study represents one of the first attempts to investigate the connections between organizational and managerial factors and Chinese officers’ support for both general and specific interventions into domestic violence. It contributes to the current literature that only included police cadets in the analysis of Chinese police attitudes toward domestic violence despite the fundamental differences between cadets and active-duty officers.

Details

Policing: An International Journal, vol. 43 no. 5
Type: Research Article
ISSN: 1363-951X

Keywords

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Article
Publication date: 21 November 2016

Ivan Y. Sun, Yuning Wu, Ruth Triplett and Shun-Yung Kevin Wang

The purpose of this paper is to examine the effects of media exposure and political party orientation on public satisfaction with and trust in the police in Taiwan.

Abstract

Purpose

The purpose of this paper is to examine the effects of media exposure and political party orientation on public satisfaction with and trust in the police in Taiwan.

Design/methodology/approach

Survey data were collected from more than 2,000 respondents in three large metropolises and two rural counties in Taiwan in 2011. Multivariate regression was used to assess the effects of media exposure and political party affiliation on public satisfaction with and trust in the police, controlling for crime experience, neighborhood conditions, background characteristics, and locality.

Findings

Taiwanese who were exposed to media reports of police misconduct and believed in the authenticity of such reports were more likely to have lower levels of satisfaction with national police and trust in the police. Though it varied somewhat by whether it was satisfaction with national or local police, the Taiwanese respondents who identified themselves as supporters of the opposition party, or politically neutral, showed lower levels of satisfaction with and trust in the police than supporters for the ruling party. Respondents who shared the same political party orientation expressed higher levels of satisfaction with local police.

Research limitations/implications

The measures of media influence, while classic and straightforward, were relatively simple and future research should not only quantify the links between media use and public trust, but also develop a qualitative cultural understanding of the communicative roles that the media play in shaping public perceptions of the police. In addition, while this study relied on a scientific sampling procedure, the sample cannot completely represent the general population in Taiwan.

Practical implications

It is important for police departments to cultivate good relations with the news media and to adopt a balanced role between law enforcers who are capable of curbing crime and reducing fear of crime, and moral guardians who are willing to uphold community social cohesion and value structures.

Originality/value

Despite a growing number of studies on public assessments in the police in Taiwan, empirical research on the impact of media and political orientation on satisfaction with and trust in the police remains very limited. This study represents one of the first attempts to assess factors related to media and political party orientation in Taiwan.

Details

Policing: An International Journal of Police Strategies & Management, vol. 39 no. 4
Type: Research Article
ISSN: 1363-951X

Keywords

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Article
Publication date: 26 May 2021

Li Gao, Jinnan Song, Jiajuan Liang and Jianxiao Guo

This paper aims to explore the influence of founder shareholders’ resources on the allocation of control rights from the perspective of incomplete contract theory and…

Abstract

Purpose

This paper aims to explore the influence of founder shareholders’ resources on the allocation of control rights from the perspective of incomplete contract theory and resource-based theory.

Design/methodology/approach

This paper analyzes newspaper materials with NVivo11on a case of battle for corporate control in Chinese top-listed company-Vanke Group.

Findings

The research shows that human capital is the key resource and the holding proportion of financial resources directly affects the allocation of control rights. At the same time, social capital is unstable and easily broken. At last, institutional environment also affects the degree between the relationship of founder shareholders’ resources and the allocation of control rights. The influence of founder-shareholder resources on the allocation of control rights follows the path of “crisis – founder-shareholder’s resources – founder’s ability - allocation of control rights.”

Research limitations/implications

This study only selects the financial capital, human capital and social capital of Shi Wang, the founder of Vanke, as the analysis object. The study can expand the types of founder shareholder resources to verify and enrich the conclusions.

Originality/value

The current theoretical research in the literature focuses on the necessity of equity and shareholder’s resources versus the control rights. Some key factors and mechanism on the relationship have not been fully clarified. The results of this paper not only extend the combination research of social network and corporate governance, but also provide enterprise founders with references for making reasonable decisions during control battle.

Details

Chinese Management Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-614X

Keywords

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