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Article
Publication date: 24 April 2020

Hong Zhang, Lu Yu and Wenyu Zhang

This study is aimed to explore the dynamic performance incentive model for a flexible PPP contract to handle uncertainties based on supervision during the long-time…

Abstract

Purpose

This study is aimed to explore the dynamic performance incentive model for a flexible PPP contract to handle uncertainties based on supervision during the long-time concession period, so as to ensure operation performance and benefits of the public sector while protecting the economic benefit of the private sector, thus avoiding unnecessary renegotiation.

Design/methodology/approach

The microeconomic and principal–agent theories and relevant studies on the basic incentive model and flexible contract are fully utilized. The procedure for developing the dynamic incentive model and the assumptions about the quantitative relationships among fundamental variables or factors are first proposed. The static incentive model without incentive parameter adjustment and then the dynamic incentive model allowing incentive parameter adjustment are successively developed. Finally, the propositions regarding the valid adjustment ranges of the incentive parameter with respect to the economic, social and hybrid benefits of the public sector and the economic benefit of the private sector are suggested.

Findings

The dynamic incentive model enables to achieve a flexible contract to handle uncertainties on the PPP project to ensure the benefits of the public sector while protecting the benefit of the private sector. The economic, social and hybrid benefits of the public sector and the economic benefit of the private sectors can be respectively realized through adjusting the reward–punishment coefficient under different adjustment ranges and different importance. The incentive model is able to ensure the benefits of the public sector while protecting the benefit of the private sector by controlling the private sector's effort level unknown to the public sector.

Originality/value

The dynamic incentive model helps implement a flexible PPP contract to handle uncertainties during the operation period, thus controlling the effort level of the private sector and ensuring the benefits of the public sector while protecting the economic benefit of the sector. It enables to clarify the quantitative relationships between the operation performance, the benefits of the stakeholders, the effort level of the private sector and the reward–punishment coefficient. This study contributes to the domain knowledge of the incomplete contract theory for designing a flexible PPP contract with dynamic incentive and supervision mechanism by applying the microeconomic and principal–agent theories.

Details

Engineering, Construction and Architectural Management, vol. 27 no. 9
Type: Research Article
ISSN: 0969-9988

Keywords

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Article
Publication date: 24 August 2021

Yueling Xu, Haijun Bao, Wenyu Zhang and Shuai Zhang

Recently, the concept of financial technology (FinTech) has attracted extensive attention from international organisations and regulators, in particular, how to achieve a…

Abstract

Purpose

Recently, the concept of financial technology (FinTech) has attracted extensive attention from international organisations and regulators, in particular, how to achieve a “win–win” situation between financial institutions' FinTech innovation and effective regulation has become a hot topic. This study purposes to explore the evolutionary game relationship between FinTech innovation and regulation by constructing both static and dynamic earmarking game models.

Design/methodology/approach

A simulation experiment was conducted using primary data obtained from a commercial bank in China.

Findings

The results of the theoretical analysis of evolutionary game models were consistent with the corresponding simulation results, proving the validity of the proposed evolutionary game models. It was also found that the dynamic earmarking game model was more stable and effective than the static earmarking game model in promoting FinTech innovation and regulation. Furthermore, when the regulators utilised a dynamic earmarking mechanism, the evolutionary path of financial institutions and regulators' behaviour strategies took the shape of a spiral and eventually converged to a central point, indicating the existence of an evolutionary stable strategy and Nash equilibrium. Finally, because the behaviour strategies of financial institutions were mainly influenced by the regulators' policies, the regulators were inspired to adjust the corresponding regulation policies on FinTech innovation.

Originality/value

This study bridges the knowledge gap in the existing literature on financial innovation and regulation, in particular by establishing evolutionary game models from the perspective of financial earmarking policies. Also, the case study for simulation experiments can gain a more intuitive insight into FinTech innovation and financial earmarking policies.

Details

Industrial Management & Data Systems, vol. 121 no. 10
Type: Research Article
ISSN: 0263-5577

Keywords

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Article
Publication date: 14 August 2020

Shiran Geng, Hing-Wah Chau, Se Yan, Wenyu Zhang and Chunyang Zhang

Spatial arrangement of hospital environments has been proven to have impacts on hospital users such as wayfinding, privacy and operational efficiency. Many studies…

Abstract

Purpose

Spatial arrangement of hospital environments has been proven to have impacts on hospital users such as wayfinding, privacy and operational efficiency. Many studies examined the spatial quality of hospitals, but there is a lack of comparative research between Chinese and Australian hospitals. Hospitals in both countries have salient features that are worth to learn and can inform hospital stakeholders internationally on design decisions. The purpose of this paper is to evaluate and compare the spatial quality of hospitals from both countries using space syntax approach and field observation.

Design/methodology/approach

This study uses space syntax analysis and observation to provide qualitative and quantitative data. Illustrative case studies from both countries are selected for comparison. The main benchmarks involved in measuring the spatial qualities, such as step depth and visual connectivity, are analysed using Depthmap X before comparing with the results from observation.

Findings

For Chinese hospitals to be more human-centred, public space design and facility management need additional attention. Australian hospitals could learn from Hospital D on how to design highly centralised nursing stations that cope with a high patient flow. Global policy and decision-makers should consider the potential inconsistency between initial design intention and practical use.

Originality/value

Practical implications were made based on the results for bettering hospital environments. It is hoped that the methodology presented in this research is of significance to the enhancement of global healthcare environment research.

Details

International Journal of Building Pathology and Adaptation, vol. 39 no. 3
Type: Research Article
ISSN: 2398-4708

Keywords

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Article
Publication date: 18 June 2021

Ying Song, Wenyu Wu and Dario Miocevic

The literature shows that e-commerce adoption brings many benefits to farmers and agricultural businesses. However, the literature offers very limited guidance on the most…

Abstract

Purpose

The literature shows that e-commerce adoption brings many benefits to farmers and agricultural businesses. However, the literature offers very limited guidance on the most effective ways for them to utilize e-commerce platforms. In this study, we unfold how a farmer's choice between endogenous (their own) vs. exogenous (third-party) e-commerce platforms should be aligned with the external (support from agricultural cooperative) and internal (usage of quality labels) resources they can leverage and the performance goals they want to achieve (market expansion vs. price premium).

Design/methodology/approach

Our study draws on transaction cost economics (TCE) and resource-based theory (RBT) to test the conceptual model with data from a cross-sectional survey of 324 farmers from two provinces in PR China.

Findings

Our findings show that external and internal resources shed additional light on the effectiveness of endogenous vis-à-vis exogenous e-commerce platforms. For farmers who rely on exogenous e-commerce, support from an agricultural cooperative appears to be critical in increasing their market expansion. On the other hand, farmers seeking to earn a price premium should focus on developing their own e-commerce platforms, while at the same time emphasizing the quality labels of their agricultural products.

Practical implications

Farmers should pay close attention to the value-added benefits provisioned through farmers' cooperatives, as well as the benefits of acquiring quality labels for their agricultural products. However, the decision to utilize these resources should be aligned with the chosen e-commerce platform (endogenous vs. exogenous) as well as with the performance goal the farmer wants to achieve.

Originality/value

Our work goes beyond the traditional focus on transaction costs and efficiency of e-commerce channels and provides specific insights into when an endogenous or exogenous e-commerce model might provide benefits for farmers. On top of this, we argue and show that this decision should reside with the farmer's ability to leverage external and internal resources, envisioned through support from an agricultural cooperative and the quality labels of agricultural products.

Details

British Food Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 1 March 2013

Wenyu Chen, Zhongquan Zhang, Tao Xiang and Ru Zeng

The purpose of this paper is to obtain more accurate matching between the request and the release of web service.

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213

Abstract

Purpose

The purpose of this paper is to obtain more accurate matching between the request and the release of web service.

Design/methodology/approach

This paper adopts Levenshtein distance algorithm to calculate the name similarity between publishing service and request service, employs cosine theorem to compute the text similarity, and uses semantic distance to count the input‐output similarity, then filters out the low similarity and bad reputation services to structure the candidate service set.

Findings

The qualitative and quantitative analysis of the scheme is given in this paper. The experimental results show that the multi‐level matching filtering algorithm can obviously improve the recall ratio and precision ratio of web service discovery.

Originality/value

This paper proposes a similarity‐based filtering algorithm for multi‐level matching.

Details

COMPEL - The international journal for computation and mathematics in electrical and electronic engineering, vol. 32 no. 2
Type: Research Article
ISSN: 0332-1649

Keywords

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Article
Publication date: 30 September 2014

Yanhui Zhang and Wenyu Yang

– The purpose of this paper is to discuss the characteristics of several stochastic simulation methods applied in computation issue of structure health monitoring (SHM).

Abstract

Purpose

The purpose of this paper is to discuss the characteristics of several stochastic simulation methods applied in computation issue of structure health monitoring (SHM).

Design/methodology/approach

On the basis of the previous studies, this research focusses on four promising methods: transitional Markov chain Monte Carlo (TMCMC), slice sampling, slice-Metropolis-Hasting (M-H), and TMCMC-slice algorithm. The slice-M-H is the improved slice sampling algorithm, and the TMCMC-slice is the improved TMCMC algorithm. The performances of the parameters samples generated by these four algorithms are evaluated using two examples: one is the numerical example of a cantilever plate; another is the plate experiment simulating one part of the mechanical structure.

Findings

Both the numerical example and experiment show that, identification accuracy of slice-M-H is higher than that of slice sampling; and the identification accuracy of TMCMC-slice is higher than that of TMCMC. In general, the identification accuracy of the methods based on slice (slice sampling and slice-M-H) is higher than that of the methods based on TMCMC (TMCMC and TMCMC-slice).

Originality/value

The stochastic simulation methods evaluated in this paper are mainly two categories of representative methods: one introduces the intermediate probability density functions, and another one is the auxiliary variable approach. This paper provides important references about the stochastic simulation methods to solve the ill-conditioned computation issue, which is commonly encountered in SHM.

Details

Engineering Computations, vol. 31 no. 7
Type: Research Article
ISSN: 0264-4401

Keywords

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Article
Publication date: 15 August 2016

Piers Thompson and Wenyu Zang

There has been considerable debate about the impact that Foreign Direct Investment has upon home grown enterprise (Pathak et al., 2015). The purpose of this paper is to…

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1297

Abstract

Purpose

There has been considerable debate about the impact that Foreign Direct Investment has upon home grown enterprise (Pathak et al., 2015). The purpose of this paper is to examine how foreign business ownership at the local level affects the decision of individual UK entrepreneurs to export their production.

Design/methodology/approach

The Global Entrepreneurship Monitor data and ONS foreign firm employment data are used within this study. In order to control for entrepreneurial and firm characteristics, a multivariate approach is adopted with logit, ordered logit and multinominal logit regressions utilised.

Findings

It is found that the influence of foreign firms, as captured by their share of local employment, has a negative influence on domestic entrepreneurs’ probability of exporting, but has no significant effect on the intensity of these export activities.

Research limitations/implications

The results suggest that local economies may not only become highly reliant on foreign employers, but also on local demand for domestic production. This means actions might be required to reduce this over-reliance to ensure the development of resilient local economies.

Originality/value

Unlike many other studies the relationship between the SME exports and foreign influence is considered at a local level. With the current UK government seeking to increase UK firms’ exports substantially, understanding this relationship is of key importance to policy makers.

Details

Journal of Small Business and Enterprise Development, vol. 23 no. 3
Type: Research Article
ISSN: 1462-6004

Keywords

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Article
Publication date: 30 September 2014

Suchismita Satapathy

– The purpose of this paper is to develop a new model – namely service quality enhancement – in the electricity utility sector of south India and to test this model's fitness.

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1040

Abstract

Purpose

The purpose of this paper is to develop a new model – namely service quality enhancement – in the electricity utility sector of south India and to test this model's fitness.

Design/methodology/approach

Effective customer satisfaction investigation is a very important precondition for a power supply enterprise to win in the market competition. The problems that need to be solved for the power supply enterprise are how to use advanced and practiced methods to evaluate electricity customer satisfaction, and how to use results of the evaluation to improve their service. Planning and operating modern electric power systems involves several interlinked and complex tasks. In this paper, structural equation modeling (SEM) is applied to the electricity utility service model to verify service quality satisfaction. To determine the scope of the electricity industry and its relationship with overall service quality, a questionnaire-based survey was conducted and a standard questionnaire was designed for all customers in different groups of stakeholders (i.e. domestic, industrial, agricultural, public organization). To investigate the respondents’ perceptions regarding the service quality of the electricity utility industry, 200 questionnaires were sent, and from these 169 responses were collected, consisting of 53 responses from the domestic sector, 43 industrial, 30 agricultural, and the remaining 43 from public organization consumers. Then a model was constructed using SEM and tested by Amos 18 to verify the casual relationship between the measured dimensions and the electricity service quality.

Findings

The results indicate that electricity service has a direct relationship with the dimensions of reliability, tangibility, empathy responsiveness, assurance, security and stability.

Originality/value

In this era electricity is the vital need, but due to regular interruptions in the electricity service, customer dissatisfaction is the measured issue. At the current time, the Indian electricity utility sector enjoys a monopolistic business. Therefore, there is hardly any effort to improve the service quality in this sector due to a lack of administrative pressure and reformation measures. Indian electricity consumers face many quality-related problems as far as the distribution of electricity is concerned. In order to assess service quality in electricity distribution, a survey has been conducted in this work to extract quality constructs from a customer's perspective. One of the contributions of this work is that on the basis of results obtained from factor analysis of the survey data, an instrument has been proposed for the first time in the Indian context, consisting of seven dimensions (reliability, tangibility, empathy, responsiveness, assurance, security and stability). This instrument would help to measure the service quality of the Indian electricity utility sectors, and it provides insights for managers and administrators to set a service standard to fill the service gap. SEM is a tool is used for confirmatory and exploratory factor analysis. It is used to test and validate standard instruments. Through confirmatory and exploratory factor analysis using SEM, the proposed service quality model has been tested and validated for practical acceptance in Indian electricity industry.

Details

Benchmarking: An International Journal, vol. 21 no. 6
Type: Research Article
ISSN: 1463-5771

Keywords

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Article
Publication date: 18 July 2016

Dong Zhou, Séamus Lawless, Xuan Wu, Wenyu Zhao and Jianxun Liu

With an increase in the amount of multilingual content on the World Wide Web, users are often striving to access information provided in a language of which they are…

Abstract

Purpose

With an increase in the amount of multilingual content on the World Wide Web, users are often striving to access information provided in a language of which they are non-native speakers. The purpose of this paper is to present a comprehensive study of user profile representation techniques and investigate their use in personalized cross-language information retrieval (CLIR) systems through the means of personalized query expansion.

Design/methodology/approach

The user profiles consist of weighted terms computed by using frequency-based methods such as tf-idf and BM25, as well as various latent semantic models trained on monolingual documents and cross-lingual comparable documents. This paper also proposes an automatic evaluation method for comparing various user profile generation techniques and query expansion methods.

Findings

Experimental results suggest that latent semantic-weighted user profile representation techniques are superior to frequency-based methods, and are particularly suitable for users with a sufficient amount of historical data. The study also confirmed that user profiles represented by latent semantic models trained on a cross-lingual level gained better performance than the models trained on a monolingual level.

Originality/value

Previous studies on personalized information retrieval systems have primarily investigated user profiles and personalization strategies on a monolingual level. The effect of utilizing such monolingual profiles for personalized CLIR remains unclear. The current study fills the gap by a comprehensive study of user profile representation for personalized CLIR and a novel personalized CLIR evaluation methodology to ensure repeatable and controlled experiments can be conducted.

Details

Aslib Journal of Information Management, vol. 68 no. 4
Type: Research Article
ISSN: 2050-3806

Keywords

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Article
Publication date: 8 February 2021

Ye Yuan, Gang Liu, Rui Dang, Stephen Siu Yu Lau and Guanhua Qu

The purpose of this paper is to identify the design elements of environmental features that affect consumer experience in shopping malls and develop a comprehensive…

Abstract

Purpose

The purpose of this paper is to identify the design elements of environmental features that affect consumer experience in shopping malls and develop a comprehensive understanding of the relationship between architectural design and consumer experience.

Design/methodology/approach

Through the systematic literature review, 13 design elements were obtained and then verified through interviews of 30 professional designers. The obtained elements were made into a questionnaire to collect data across China from 1,016 consumers of different groups. Data were analyzed using cluster analysis, principal component analysis and difference analysis.

Findings

The results show that design elements that influence consumer experience in shopping malls are a four-dimensional construct: visual atmosphere, physical environment comfort, space structure and business planning, among which space structure and business planning play a larger role in the consumer experience. In addition, the perception differences of consumers for those elements are significant due to the individual differences.

Originality/value

This paper comprehensively investigates the architectural design elements affecting consumer experience in the Chinese mall context. Moreover, it provides unique insights about the relationship between architectural design and consumer experience by exploring the categories, weights and perception differences of those elements.

Details

Asia Pacific Journal of Marketing and Logistics, vol. 33 no. 9
Type: Research Article
ISSN: 1355-5855

Keywords

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