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1 – 10 of over 4000Eunhye (Olivia) Park, Bongsug (Kevin) Chae and Junehee Kwon
The purpose of this study was to explore influences of review-related information on topical proportions and the pattern of word appearances in each topic (topical content) using…
Abstract
Purpose
The purpose of this study was to explore influences of review-related information on topical proportions and the pattern of word appearances in each topic (topical content) using structural topic model (STM).
Design/methodology/approach
For 173,607 Yelp.com reviews written in 2005-2016, STM-based topic modeling was applied with inclusion of covariates in addition to traditional statistical analyses.
Findings
Differences in topic prevalence and topical contents were found between certified green and non-certified restaurants. Customers’ recognition in sustainable food topics were changed over time.
Research limitations/implications
This study demonstrates the application of STM for the systematic analysis of a large amount of text data.
Originality/value
Limited study in the hospitality literature examined the influence of review-level metadata on topic and term estimation. Through topic modeling, customers’ natural responses toward green practices were identified.
研究目的
本研究旨在通过结构性话题建模(STM)方法以开拓评论性内容对于话题组成和词条构成的影响。
研究设计/方法/途径
本论文采用 173,607 份 Yelp.com 在 2015 至 2016 年间的评论内容为样本,STM 分析结合共变量形成话题性建模。
研究结果
话题趋势和话题内容的不同存在于认证过的绿色餐馆与非认证的绿色餐馆中。消费者对于可持续性的食物话题兴趣随着时间而改变。
研究理论限制/意义
本研究对 STM 相关大规模文本型数据的系统分析方法给与启示。
研究原创性/价值
在酒店管理文献中很少有文章研究评论性元数据对于话题和词条预估的影响。通过话题建模,消费者对于绿色措施的反馈获得了梳理和确认。
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Research in the area of financial distress often uses a proportional hazards model to determine the influence of covariates on the duration of time that precedes financial…
Abstract
Research in the area of financial distress often uses a proportional hazards model to determine the influence of covariates on the duration of time that precedes financial distress. Acritical issue in the use of a proportional hazards model is the use of time‐invariant and time‐dependent covariates. Time‐invariant covariates remain fixed while time‐dependent covariates change during the estimation of the model. Although the choice of covariates might substantially affect the estimation of the proportional hazards model, existing literature often fails to consider the potential effect of this choice on model estimation. This paper reviews the distinction between time‐invariant and time‐dependent covariates and the effect of covariate selection on the estimation of a proportional hazards model. Using a sample of financially distressed and non‐financially distressed firms, this paper suggests the choice of time dependence substantially influences model estimation and that covariate selection should be given more serious consideration in financial distress research.
Daniel J. Henderson and Christopher F. Parmeter
It is known that model averaging estimators are useful when there is uncertainty governing which covariates should enter the model. We argue that in applied research there is also…
Abstract
It is known that model averaging estimators are useful when there is uncertainty governing which covariates should enter the model. We argue that in applied research there is also uncertainty as to which method one should deploy, prompting model averaging over user-defined choices. Specifically, we propose, and detail, a nonparametric regression estimator averaged over choice of kernel, bandwidth selection mechanism and local-polynomial order. Simulations and an empirical application are provided to highlight the potential benefits of the method.
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F.A.M. Elfaki, I. Bin Daud, N.A. Ibrahim, M.Y. Abdullah and M. Usman
Cox's model with Weibull distribution and Cox's with exponential distribution are the most important models in reliability analysis. This paper seeks to show that, with a large…
Abstract
Purpose
Cox's model with Weibull distribution and Cox's with exponential distribution are the most important models in reliability analysis. This paper seeks to show that, with a large sample size based on expectation maximization (EM) algorithm, both models give similar results.
Design/methodology/approach
The parameters of the models have been estimated by method of maximum likelihood based on EM algorithm. The objective of this analysis is to fit the modification of Cox's model with Weibull distribution and Cox's with exponential distribution, examine its performance and compare their results with Crowder et al.
Findings
A simulation study indicates that the parametric Cox's model with Weibull distribution gives similar results to Cox's with exponential distribution, especially for a large sample size. Also, the modification of the two models showed better results compared with Crowder et al., especially for the second causes of failure.
Originality/value
A modification of the two competing risk models has mostly been applied in failure time data and simulation data. The results of the simulation study indicate that the Weibull and exponential are suitable for Cox's model as they are easy to use and it can achieve even higher accuracy compared with other distribution models.
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This study aims to identify which elements of the vending marketing mix are the main sources of competitive advantage for the industry, how they impact vending profitability, and…
Abstract
Purpose
This study aims to identify which elements of the vending marketing mix are the main sources of competitive advantage for the industry, how they impact vending profitability, and what are their related synergistic effects.
Design/methodology/approach
A full factorial experiment was developed to determine the effect of eight marketing mix scenarios on the profitability of a new vending channel in a French university library and assess the synergistic effects among three elements of a marketing mix (i.e. product quality, payment system, internal location) identified in a focus group as new sources of industry competitive advantage.
Findings
Although the main effects of product quality and payment system were weak-to-modest and insignificant, their interaction effect significantly impacted the daily net profit of the vending channel and generated the highest net synergy. The results partially challenge the marketing synergy axiom as internal location separately had a stronger impact on profitability than product quality and higher-order interaction effects do not necessarily translate into higher synergistic effects.
Research limitations/implications
This research was conducted in a real-life setting and has its limitations, which future researchers can overcome by extending the temporal, geographic and product scope of the study.
Originality/value
The distinction that we introduced between gross and net synergy allowed us to partially challenge the prevailing marketing mix assumption that synergy is always positive (i.e. that a vending retailer can achieve synergy by selecting a combination of marketing mix elements instead of relying on them separately). Moreover, by demonstrating that marketing synergy is not a uni- but a bi-dimensional concept, we provide vending retailers with a better methodological understanding of why they may have already fallen into the synergy trap and how to avoid it in the future.
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Matias D. Cattaneo and Max H. Farrell
This chapter studies the large sample properties of a subclassification-based estimator of the dose–response function under ignorability. Employing standard regularity conditions…
Abstract
This chapter studies the large sample properties of a subclassification-based estimator of the dose–response function under ignorability. Employing standard regularity conditions, it is shown that the estimator is root-n consistent, asymptotically linear, and semiparametric efficient in large samples. A consistent estimator of the standard-error is also developed under the same assumptions. In a Monte Carlo experiment, we investigate the finite sample performance of this simple and intuitive estimator and compare it to others commonly employed in the literature.
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In this paper, we study a partially linear dynamic panel data model with fixed effects, where either exogenous or endogenous variables or both enter the linear part, and the…
Abstract
In this paper, we study a partially linear dynamic panel data model with fixed effects, where either exogenous or endogenous variables or both enter the linear part, and the lagged-dependent variable together with some other exogenous variables enter the nonparametric part. Two types of estimation methods are proposed for the first-differenced model. One is composed of a semiparametric GMM estimator for the finite-dimensional parameter θ and a local polynomial estimator for the infinite-dimensional parameter m based on the empirical solutions to Fredholm integral equations of the second kind, and the other is a sieve IV estimate of the parametric and nonparametric components jointly. We study the asymptotic properties for these two types of estimates when the number of individuals N tends to ∞ and the time period T is fixed. We also propose a specification test for the linearity of the nonparametric component based on a weighted square distance between the parametric estimate under the linear restriction and the semiparametric estimate under the alternative. Monte Carlo simulations suggest that the proposed estimators and tests perform well in finite samples. We apply the model to study the relationship between intellectual property right (IPR) protection and economic growth, and find that IPR has a non-linear positive effect on the economic growth rate.
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Yiyi Wang, Kara M. Kockelman and Paul Damien
This paper analyzes county-level firm births across the United States using a spatial count model that permits spatial dependence, cross-correlation among different industry…
Abstract
This paper analyzes county-level firm births across the United States using a spatial count model that permits spatial dependence, cross-correlation among different industry types, and over-dispersion commonly found in empirical count data. Results confirm the presence of spatial autocorrelation (which can arise from agglomeration effects and missing variables), industry-specific over-dispersion, and positive, significant cross-correlations. After controlling for existing-firm counts in 2008 (as an exposure term), parameter estimates and inference suggest that a younger work force and/or clientele (as quantified using each county’s median-age values) is associated with more firm births (in 2009). Higher population densities is associated with more new basic-sector firms, while reducing retail-firm starts. The modeling framework demonstrated here can be adopted for a variety of settings, harnessing very local, detailed data to evaluate the effectiveness of investments and policies, in terms of generating business establishments and promoting economic gains.
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The purpose of this paper is to determine if lender experience in disposing of repossessed single‐family houses in the local market is significantly related to the probability a…
Abstract
Purpose
The purpose of this paper is to determine if lender experience in disposing of repossessed single‐family houses in the local market is significantly related to the probability a property will sell. In addition, other factors that are significantly related to the market duration of repossessed houses are identified.
Design/methodology/approach
The Cox proportional hazard model is used to analyze transaction data for 2,099 single‐family houses in Dayton, Ohio. Title to each of these properties was obtained by lenders through foreclosure. The study period approximates the first three years of the subprime mortgage crisis in the USA: 2007‐2009.
Findings
The marketing efforts of lenders with more local property disposition experience are found to be superior to the efforts of less experienced lenders. The results also indicate that the selling rate function increased over the study period, and there is seasonality in the data which is consistent with lenders attempting to limit holding costs.
Research limitations/implications
The study is limited to the experience of lenders in a single local market over a three year study period. Additional research to determine if similar results apply in other markets would be a valuable addition to the literature.
Practical implications
While foreclosure is not a desirable outcome for any of the parties involved in a mortgage loan, the paper's results offer a bit of good news for lenders. The results are consistent with organizational learning theory which posits that experience should enhance performance. Given predictions that the mortgage crisis has not yet run its full course, lenders' performance in disposing of repossessed houses is likely to continue to improve.
Originality/value
This is the first study to apply the proportional hazard model to the study of foreclosed houses. This technique offers an advantage over previously applied methodologies because it allows the researcher to include properties that lenders did not sell during the study period into the analysis. All previous efforts were limited to sold properties and this restriction may have biased the previous results.
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Shweta Bahl, Vasavi Bhatt and Ajay Sharma
In the process of school-to-work transition, the role of general education and vocational education and training (VET) remains quite central. Based on the human capital theory, we…
Abstract
Purpose
In the process of school-to-work transition, the role of general education and vocational education and training (VET) remains quite central. Based on the human capital theory, we estimate whether investment in VET brings additional returns for workers across the age cohorts.
Design/methodology/approach
The focus of our study being the labour market in India, the data from the Periodic Labour Force Survey 2018–19, conducted by the National Statistical Office, has been used for analysis. We have applied the ordinary least square method with sample selection correction, the quasi-experimental technique of propensity score matching and heteroskedasticity based instrumental variable approach to estimate the returns with respect to no VET, formal VET and informal VET.
Findings
Our study shows that workers with formal VET earn higher wages than workers with no VET or informal VET. The study finds that workers with informal VET do not earn higher wages than workers with no VET. Moreover, from the age cohort analysis, we have deduced that wage advantage of workers with formal VET persists across all age cohorts and, in fact, accentuates with an increase in age.
Originality/value
We have estimated that VET being complemented with basic general education fetches higher returns in the labour market, especially when provided through formal channels. Moreover, to the best of our knowledge, in the case of developing countries where informal VET is widely provided, this is one of the first studies that captures the return to informal VET. Lastly, complementing the existing studies on the developed countries, we have estimated the returns to VET over the life cycle of the workers.
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