Search results

A separate study of the different behavioral biases does not allow for a full understanding of the complexity and stability of the heterogeneity of beliefs. Therefore, through a more global view of these anomalies, the authors wish to show that they can converge on a single concept, which is the heterogeneity of beliefs.

It is therefore essential to stress that the importance of this study is mainly reflected in the methodological approach used in the construction and analysis of the map and not only in the results achieved. This contribution states that structural analysis, as a means of building the cognitive map, can facilitate the task of investors and other decision-makers, in the identification and analysis of the heterogeneity of beliefs that can therefore guide investors' strategy in decision-making.

The authors have studied the behavior of the investor and its way of interpreting the information and the authors have emphasized the value of studying the concept of heterogeneity of beliefs in its complexity. So that part of the work seems to be relevant and crucial to filling, if you will, that void. In this sense, the authors have shown that behavioral abnormalities are multidimensional concepts: “self-deception”, “cognitive bias”, “emotional bias” and “social bias”.

In particular, this article will aim to achieve the objective of proposing a model for measuring the heterogeneity of beliefs. Thus, the authors want to show that the heterogeneity of beliefs can be measured directly through the different behavioral anomalies.

Different studies have been conducted on the relationship between technological capability and firm performance. These studies obtain different values for the relationship, known as heterogeneous results. The purpose of this paper is to analyze the relationship between technological capability and firm performance and its statistical between-study heterogeneity.

In order to analyze all the results from this relationship that were found in the literature, we adopted the literature review with a meta-analytic method. We consulted the Scopus and Web of Science databases, which returned, after the application of inclusion criteria, 23 primary studies with data from 5,882 manufacturing firms.

We observed that technological capability and performance are positively related; however, the results regarding this relationship are heterogeneous. We discovered four possible sources of statistical between-study heterogeneity: (i) the statistical between-study heterogeneity of the variables to measure technological capability and performance; (ii) orientation of the thematic approach – some illustrate the relationship between technological capability and performance using mathematical and theoretical models, while others examine the relationship between technological capability and performance and propose implications pertaining to that relationship; (iii) the source of data for primary studies and (iv) the context in which this relationship is observed.

It is necessary to standardize a set of variables through which technological capability and performance are evaluated so that results and implications can be usefully compared between countries and industrial sectors.

The contribution to knowledge is identifying the statistical between-study heterogeneity on the relationship between technological capabilities and firm performance, as well as its potential sources.

The successful implementation of hospital projects (HPs) tends to confront sundry challenges in the planning and construction (P&C) phases due to their complexity and particularity. Employing key performance indicators (KPIs) facilitates the monitoring of HPs to advance their successful delivery. This study aims to comprehensively investigate the KPIs for hospital planning and construction (HPC).

The KPIs for HPC were identified through a systematic review. Then a comprehensive assessment of these KPIs was performed utilizing a meta-analysis method. In this process, basic statistical analysis, subgroup analysis, sensitive analysis and publication bias analysis were performed.

Results indicate that all 27 KPIs identified from the literature are significant for executing HPs in P&C phases. Also, some unconventional performance indicators are crucial for implementing HPs, such as “Project monitoring effectiveness” and “Industry innovation and synergy,” as their high significance is reflected in this study. Despite the fact that the findings of meta-analysis are more trustworthy than those of individual studies, a high heterogeneity still exists in the findings. It highlights the inherent uncertainty in the construction industry. Hence, this study applied subgroup analysis to explore the underlying factors causing the high level of heterogeneity and used sensitive analysis to assess the robustness of the findings.

There is no consensus among the prior studies on KPIs for HPC specifically and their degree of significance. Additionally, few reviews in this field have focused on the reliability of the results. This study comprehensively assesses the KPIs for HPC and explores the variability and robustness of the results, which provides a multi-dimensional perspective for practitioners and the research community to investigate the performance of HPs during the P&C stages.

This paper aims to examine the dynamics of house prices in metropolitan cities in an emerging economy. The purpose of this study is to characterise the house price dynamics and the spatial heterogeneity in the dynamics.

The author explores spatial heterogeneity in house price dynamics, using data for 35 Indian cities with a million-plus population. The research methodology uses panel econometrics allowing for spatial heterogeneity, cross-sectional dependence and non-stationary data. The author tests for spatial differences and analyses the income elasticity of prices, the role of construction costs and lending to the real estate industry by commercial banks.

Long-term fundamentals drive the Indian housing markets, where wealth parameters are stronger than supply-side parameters such as construction costs or availability of financing for housing projects. The long-term elasticity of house prices to aggregate household deposits (wealth proxy) varies considerably across cities. However, the elasticity estimated at 0.39 is low. The highest coefficient is for Ludhiana (1.14), followed by Bhubaneswar (0.78). The short-term dynamics are robust and show spatial heterogeneity. Short-term momentum (lagged housing price changes) has a parameter value of 0.307. The momentum factor is the crucial dynamic in the short term. The second driver, the reversion rate to long-term equilibrium (estimated at −0.18), is higher than rates reported from developed markets.

This research applies to markets that require some home equity contributions from buyers of housing services.

Stakeholders can characterise stable housing markets based on long-term fundamental value and short-run house price dynamics. Because stable housing markets benefit all stakeholders, weak or non-existent mean reversion dynamics may prompt the intervention of policymakers. The role of urban planners, and local and regional governance, is essential to remove the bottlenecks from the demand side or supply side factors that can lead to runaway prices.

Existing literature is concerned about the risk of a housing bubble due to relaxed credit norms. To prevent housing market bubbles, some regulators require higher contributions from home buyers in the form of equity. The dynamics of house prices in markets with higher owner equity requirements vary from high-leverage markets. The influence of wealth effects is examined using novel data sets. This research, documents in an emerging market context, the observations cited in low-leverage developed markets such as Germany and Japan.

This study is devoted to examining the peer effects of engineering enterprises’ internationalization from the viewpoint of industry subdivision and how information and competition alter peer effects. Furthermore, the heterogeneity of peer effects is analyzed based on manager characteristics.

In this study, multiple regression analysis was conducted on a sample of 38 Chinese engineering enterprises listed in the Engineering News-Record’s top 250 international contractors over the period of 2013–2021. This study collected the paired data from the enterprise annual reports and the China Stock Market & Accounting Research database.

The results reveal that (1) there exist peer effects within the subdivided industry of the engineering field; the quality of information disclosure of peer enterprises and degree of market competition moderate the peer effects; (2) the peer effects of internationalization are more pronounced in engineering enterprises with managers who have lower ability, hold greater power or are older.

The findings of this study contribute to understanding the peer effect in the process of internationalization of engineering enterprises, and help enterprises to effectively supervise the irrational behavior of top managers, so as to develop better internationalization strategies.

The results extend peer effects to the subdivision industry of the engineering field. Furthermore, this study also enriches the relevant research on peer effects among enterprises by empirically supporting the moderating role of information and competition as well as analyzing the heterogeneity of the peer effects from the perspective of manager characteristics.

In this fast-changing world, digitization has become crucial to organizations, allowing decision-makers to alter corporate processes. Companies with a higher corporate social responsibility (CSR) level not only help encourage employees to focus on their goals, but they also show that they take their social responsibility seriously, which is increasingly important in today’s digital economy. So, this study aims to examine the relationship between digital transformation and CSR disclosure of Chinese A-share companies. Furthermore, this research investigates the moderating impact of governance heterogeneity, including CEO power and corporate internal control (INT) mechanisms.

This study used fixed effect estimation with robust standard errors to examine the relationship between digital transformation and CSR disclosure and the moderating effect of governance heterogeneity among Chinese A-share companies from 2010 to 2020. The whole sample consists of 17,266 firms, including 5,038 state-owned enterprise (SOE) company records and 12,228 non-SOE records. The whole sample data is collected from the China Stock Market and Accounting Research, the Chinese Research Data Services and the WIND databases.

The regression results lead us to three conclusions after classifying the sample into non-SOE and SOE groups. First, Chinese A-share businesses with greater levels of digitalization have lower CSR disclosures. Both SOE and non-SOE are consistent with these findings. Second, increasing CEO authority creates a more centralized company decision-making structure (Breuer et al., 2022; Freire, 2019), which improves the negative association between digitalization and CSR disclosure. These conclusions, however, also apply to non-SOE. Finally, INT reinforces the association between corporate digitization and CSR disclosure, which is especially obvious in SOEs. These findings are robust to alternative HEXUN CSR disclosure index. Heterogeneity analysis shows that the negative relationship between corporate digitalization and CSR disclosures is more pronounced in bigger, highly levered and highly financialized firms.

Digitalization and CSR disclosure are well studied, but few have examined their interactions from a governance heterogeneity perspective in China. Practitioners and policymakers may use these insights to help business owners implement suitable digital policies for firm development from diverse business perspectives.

In Bangladesh (BD), delays in infrastructure are common. Many previous studies have explored the causes of infrastructure delays. However, this study investigated the causes of delays by taking responses from the stakeholders who are responsible for planning, design, funding, approval and implementation. There are few studies that have related infrastructure project delays to heterogeneity in stakeholders’ perceptions.

A structural equation (SE) model is developed with 350 normally distributed data points to understand the heterogeneity in stakeholders’ perceptions regarding delays in infrastructure projects in BD. Additionally, the relative importance index (RII) approach is used to assess the responses, validating the SE model.

The study finds that among the three latent variables, “Project itself related delay” has more influence on delays in infrastructure projects. Among the observed variables under the “project itself related delay” latent variable, “DPP approval process” has the most significance. From the heterogeneity analysis, the study found differences in responses among the stakeholders from “the Engineering Department,” “the Planning Office” and “the Construction Firm/Industry.” An important class of stakeholders believes that their stage is not being delayed and that other stages require attention.

The data sample is 350. More data can improve the accuracy of the findings. Most of the respondents are civil engineers (74%) and represent the owner of the project. Sample data from more stakeholders’ will enhance the accuracy of the result.

This study addresses the requirements of Bangladeshi project stakeholders and how their interactions cause delays in projects. Furthermore, the opinions of other stakeholders are taken into consideration when determining the specific factors of individual stakeholders that are causing delays. Practically, the distance between stakeholders should be reduced. A project manager can play a role in this regard. Initiatives should be taken on how to complete the project quickly by eliminating the requirements discussed among the stakeholders and bureaucratic complications. Instead of placing blame on one another, stakeholders should take the initiative to figure out how to work together to finish the project on schedule. The Planning Commission’s approval of the Development Project Proposal (DPP) and Revised Development Project Proposal (RDPP) should be obtained as soon as possible by owner stakeholders. In order to avoid frequently changing the DPP, owners should also exercise greater caution when choosing contractors. Contractor stakeholders should use efficient and proper manpower and equipment so that unexpected delays are not created during the execution of work. Since the role of the contractor stakeholder is the most important among the three types of stakeholders, the contractor should raise awareness and urge the owners to get the RDPP approved quickly.

The findings from the study can help mitigate delays in infrastructure projects in BD, taking into account the perceptions of various stakeholders.

The susceptible-infectious-susceptible (SIS) infectious disease models without spatial heterogeneity have limited applications, and the numerical simulation without considering models’ global existence and uniqueness of classical solutions might converge to an impractical solution. This paper aims to develop a robust and reliable numerical approach to the SIS epidemic model with spatial heterogeneity, which characterizes the horizontal and vertical transmission of the disease.

This study used stability analysis methods from nonlinear dynamics to evaluate the stability of SIS epidemic models. Additionally, the authors applied numerical solution methods from diffusion equations and heat conduction equations in fluid mechanics to infectious disease transmission models with spatial heterogeneity, which can guarantee a robustly stable and highly reliable numerical process. The findings revealed that this interdisciplinary approach not only provides a more comprehensive understanding of the propagation patterns of infectious diseases across various spatial environments but also offers new application directions in the fields of fluid mechanics and heat flow. The results of this study are highly significant for developing effective control strategies against infectious diseases while offering new ideas and methods for related fields of research.

Through theoretical analysis and numerical simulation, the distribution of infected persons in heterogeneous environments is closely related to the location parameters. The finding is suitable for clinical use.

The theoretical analysis of the stability theorem and the threshold dynamics guarantee robust stability and fast convergence of the numerical solution. It opens up a new window for a robust and reliable numerical study.

Digitalization is increasingly important for promoting authentic CSR practices. Firms with higher CSR levels motivate their employees to pursue their goals and demonstrate their social responsibility. However, the literature has not adequately examined how firm-level digitalization influences corporate sustainability from a governance perspective. This study aims to fill this gap by exploring how digitalization affects CSR disclosure, a key aspect of sustainability, at the firm level. Furthermore, this study also aims to investigate how governance factors, such as management power, internal control and minority shareholder pressure, moderate this effect.

This study employs a fixed effect model with robust standard errors to analyze how digitalization and CSR disclosure are related and how this relationship is moderated by governance heterogeneity among Chinese A-share companies from 2010 to 2020. The sample consists of 2,339 firms, of which 360 are SOEs and 1,979 are non-SOEs. To ensure robustness, this study has excluded the observations in 2020 to avoid the effects of COVID-19 and used an alternative measure of CSR disclosure based on the HEXUN CSR disclosure index. Furthermore, this study also explores the link in various corporate-level CSR settings.

The regression findings reveal that: First, Chinese A-share firms with higher digitalization levels disclose less CSR information. This finding holds for both SOEs and non-SOEs. Second, stronger management power has a negative moderating effect that weakens the link between digitalization and CSR disclosure, and this effect is mainly driven by SOEs. Third, internal control attenuates the negative association between firm digitalization and CSR disclosure, which is more pronounced in SOEs. Finally, minority shareholders exacerbate the negative relationship between digitalization and CSR disclosure, and this effect is more evident in non-SOEs. These results are robust to excluding the potential COVID effect and using an alternative HEXUN CSR disclosure index measure.

Digitalization and sustainability have been widely discussed at a macro level, but their relationship at a micro level has been largely overlooked. Moreover, there is hardly any evidence on how governance heterogeneity affects this relationship in emerging economies, especially China. This paper addresses these issues by providing empirical evidence on how digital transformation influences CSR disclosure in China, a context where digitalization and CSR are both rapidly evolving. The paper also offers implications for both practitioners and policymakers to design appropriate digital strategies for firm development from diverse business perspectives.

Online collaboration in today's world is a topic of genuine interest to Internet researchers. The purpose of this paper is to explore the role of group knowledge heterogeneity (GKH) in open collaboration performance using the mediating mechanisms of group cognition (GC) and interaction to understand the determinants of the success of online open collaboration platforms.

Study findings are based on partial least squares structural equation modeling (PLS-SEM), the formal mediation test and moderating effect analysis from Wikipedia's 160 online open collaborative groups.

For online knowledge heterogeneous groups, open collaboration performance is mediated by both GC and collaborative interaction (COL). The mediating role of GC is weak, while the mediating role of COL is strengthened when knowledge complexity (KC) is higher. By dividing group interaction into COL and communicative interaction (COM), the authors also observed that COL is effective for online open collaboration, whereas COM is limited.

These findings suggest that for more heterogeneous large groups, group interaction would explain more variance in performance than GC, offering an in-depth understanding of the relationship between group heterogeneity and open collaboration performance, answering what determines the success of online open collaboration platforms as well as explaining the inconsistency in prior findings. In addition, this study expands the application of Interactive Team Cognition (ITC) theory to the online open collaboration context.