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1 – 10 of 558The purpose of this study is to compare the competition and productivity of the US freight rail transportation industry for the past 41 years (1980 ∼ 2020), which consists of the…
Abstract
Purpose
The purpose of this study is to compare the competition and productivity of the US freight rail transportation industry for the past 41 years (1980 ∼ 2020), which consists of the two periods, before and after the abolishment of the Interstate Commerce Commission (ICC) in 1995.
Design/methodology/approach
This study investigates any relationships between the market concentration index values and labor productivity values in the separate two periods, and how the existence of a regulatory body in the freight transportation market impacted the productivity of the freight rail transportation industry by using a Cobb–Douglas production function on annual financial statement data from the US stock exchange market.
Findings
This study found that, after the abolishment of the ICC: (1) the rail industry became less competitive, (2) even if the rail industry had an increasing labor productivity trend, there was a strong negative correlation between the market concentration index and labor productivity and (3) the rail industry’s total factor productivity was decreased.
Originality/value
This study is to find empirical evidence of the effect of the ICC abolishment on the competition and productivity levels in the US freight rail transportation industry using a continuous data set of 41-year financial statements, which is unique compared to previous studies.
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Marvin Gonzalez and Gioconda Quesada
The productivity of a port is a measure that is important to different stakeholders: port administrators (port authority), third-party logistics providers, manufacturers and…
Abstract
Purpose
The productivity of a port is a measure that is important to different stakeholders: port administrators (port authority), third-party logistics providers, manufacturers and consumers, among others. This study analyses productivity in terms of vessel movement efficiencies (loading/unloading of cargo) and container release from port facilities. Both factors add to the overall productivity in any port.
Design/methodology/approach
A comparative analysis of the productivity of three ports is measured using a Quality Function Deployment (QFD) and benchmarking analysis to help establish strategies that will help improve productivity. Considering the information confidentially the authors will call the ports according to their geographic location. The ports under study are the USA Southeast Port (Port of America), Central Asian Port (Port of Asia) and Central Europe Port (Port of Europe).
Findings
This study has established an analysis strategy that allows seeing points of sale in the ports. This study will compare three different continents, only to demonstrate the applicability of QFD and benchmarking. Still, the strategy can be used in ports that compete due to their proximity and location. Identifying the variables to be analyzed made it possible to establish a strategy to increase productivity.
Originality/value
There are many studies that analyze port productivity, but none try to standardize the variables to be compared in different scenarios. This study has compared three ports from three different geographical areas, using the same variables in all three cases. The study critically analyses the performance of three ports and proposes a strategy based on QFD and benchmarking research.
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Zhichao Wang and Valentin Zelenyuk
Estimation of (in)efficiency became a popular practice that witnessed applications in virtually any sector of the economy over the last few decades. Many different models were…
Abstract
Estimation of (in)efficiency became a popular practice that witnessed applications in virtually any sector of the economy over the last few decades. Many different models were deployed for such endeavors, with Stochastic Frontier Analysis (SFA) models dominating the econometric literature. Among the most popular variants of SFA are Aigner, Lovell, and Schmidt (1977), which launched the literature, and Kumbhakar, Ghosh, and McGuckin (1991), which pioneered the branch taking account of the (in)efficiency term via the so-called environmental variables or determinants of inefficiency. Focusing on these two prominent approaches in SFA, the goal of this chapter is to try to understand the production inefficiency of public hospitals in Queensland. While doing so, a recognized yet often overlooked phenomenon emerges where possible dramatic differences (and consequently very different policy implications) can be derived from different models, even within one paradigm of SFA models. This emphasizes the importance of exploring many alternative models, and scrutinizing their assumptions, before drawing policy implications, especially when such implications may substantially affect people’s lives, as is the case in the hospital sector.
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Zaifeng Wang, Tiancai Xing and Xiao Wang
We aim to clarify the effect of economic uncertainty on Chinese stock market fluctuations. We extend the understanding of the asymmetric connectedness between economic uncertainty…
Abstract
Purpose
We aim to clarify the effect of economic uncertainty on Chinese stock market fluctuations. We extend the understanding of the asymmetric connectedness between economic uncertainty and stock market risk and provide different characteristics of spillovers from economic uncertainty to both upside and downside risk. Furthermore, we aim to provide the different impact patterns of stock market volatility following several exogenous shocks.
Design/methodology/approach
We construct a Chinese economic uncertainty index using a Factor-Augmented Variable Auto-Regressive Stochastic Volatility (FAVAR-SV) model for high-dimensional data. We then examine the asymmetric impact of realized volatility and economic uncertainty on the long-term volatility components of the stock market through the asymmetric Generalized Autoregressive Conditional Heteroskedasticity-Mixed Data Sampling (GARCH-MIDAS) model.
Findings
Negative news, including negative return-related volatility and higher economic uncertainty, has a greater impact on the long-term volatility components than positive news. During the financial crisis of 2008, economic uncertainty and realized volatility had a significant impact on long-term volatility components but did not constitute long-term volatility components during the 2015 A-share stock market crash and the 2020 COVID-19 pandemic. The two-factor asymmetric GARCH-MIDAS model outperformed the other two models in terms of explanatory power, fitting ability and out-of-sample forecasting ability for the long-term volatility component.
Research limitations/implications
Many GARCH series models can also combine the GARCH series model with the MIDAS method, including but not limited to Exponential GARCH (EGARCH) and Threshold GARCH (TGARCH). These diverse models may exhibit distinct reactions to economic uncertainty. Consequently, further research should be undertaken to juxtapose alternative models for assessing the stock market response.
Practical implications
Our conclusions have important implications for stakeholders, including policymakers, market regulators and investors, to promote market stability. Understanding the asymmetric shock arising from economic uncertainty on volatility enables market participants to assess the potential repercussions of negative news, engage in timely and effective volatility prediction, implement risk management strategies and offer a reference for financial regulators to preemptively address and mitigate systemic financial risks.
Social implications
First, in the face of domestic and international uncertainties and challenges, policymakers must increase communication with the market and improve policy transparency to effectively guide market expectations. Second, stock market authorities should improve the basic regulatory system of the capital market and optimize investor structure. Third, investors should gradually shift to long-term value investment concepts and jointly promote market stability.
Originality/value
This study offers a novel perspective on incorporating a Chinese economic uncertainty index constructed by a high-dimensional FAVAR-SV model into the asymmetric GARCH-MIDAS model.
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Parisa Heidari Aqagoli, Ali Safari and Arash Shahin
The purpose of this paper is to determine the attractiveness or unattractiveness of cyberloafing in the workplace using Q methodology and the Kano model.
Abstract
Purpose
The purpose of this paper is to determine the attractiveness or unattractiveness of cyberloafing in the workplace using Q methodology and the Kano model.
Design/methodology/approach
The perception of employees towards cyberloafing was investigated based on Q methodology, and then they were prioritized using Kano model. Ten IT companies were selected for the case study. In this study, a mixed method was used. First, 30 participants were interviewed. Next, after extracting the comments, Q-matrix was presented to 30 participants and they completed the matrix cells. Finally, Kano questionnaire was designed using the items obtained from Q methodology and distributed among 30 participants.
Findings
Q methodology led to nine perceptions, and the priorities of Kano model were proponents of increasing employees' dependence on the internet, economic thinkers, the indifferent, dissatisfied, proponents of receiving information, self-control proponents, the profit-minded, mind destroyer and satisfaction-oriented. Cyberloafing is considered unattractiveness with adverse effects. The combination of Q methodology and Kano model can improve the analysis of the results.
Originality/value
This study is one of the few studies in which Q methodology is improved by Kano model. In the past, Q methodology alone examined people’s perception, but by combining these two methods, it is determined which perception is more satisfying and which one is more important, and then a general result can be reached.
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Elena Fedorova, Daria Aleshina and Igor Demin
The goal of this work is to evaluate how digital transformation disclosure in corporate news and press releases affects stock prices. We examine American and Chinese companies…
Abstract
Purpose
The goal of this work is to evaluate how digital transformation disclosure in corporate news and press releases affects stock prices. We examine American and Chinese companies from the energy and industry sectors for two periods: pre-COVID-19 and during the COVID-19 pandemic.
Design/methodology/approach
To estimate the effects of disclosure of information related to digital transformation, we applied the bag-of-words (BOW) method. As the benchmark dictionary, we used Kindermann et al. (2021), with the addition of original dictionaries created via Latent Dirichlet allocation (LDA) analysis. We also employed panel regression analysis and random forest.
Findings
For USA energy sector, all aspects of digital transformation were insignificant in pre-COVID-19 period, while sustainability topics became significant during the pandemic. As for the Chinese energy sector, digital strategy implementation was significant in pre-pandemic period, while digital technologies adoption and business model innovation became relevant in COVID-19 period. The results show the greater significance of digital transformation aspects for industrials sectors compared to the energy sector. The result of random forest analysis proves the efficiency of the authors’ dictionary which could be applied in practice. The developed methodology can be considered relevant.
Originality/value
The research contributes to the existing literature in theoretical, empirical and methodological ways. It applies signaling and information asymmetry theories to the financial markets, digital transformation being used as an instrument. The methodological contribution of this article can be described in several ways. Firstly, our data collection process differs from that in previous papers, as the data are gathered “from investor’s point of view”, i.e. we use all public information published by the company. Secondly, in addition to the use of existing dictionaries based on Kindermann et al. (2021), with our own modifications, we apply the original methodology based on LDA analysis. The empirical contribution of this research is the following. Unlike past works, we do not focus on particular technologies (Hong et al., 2023) connected with digital transformation, but try to cover all multi-dimensional aspects of the transformational process and aim to discover the most significant one.
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This study aims to investigate the research productivity in terms of publications count of the top four premiers Indian Institute of Management (IIM) institutions and to explore…
Abstract
Purpose
This study aims to investigate the research productivity in terms of publications count of the top four premiers Indian Institute of Management (IIM) institutions and to explore the current research trends.
Design/methodology/approach
Bibliometric techniques were employed to assess the performance in terms of research productivity of authors affiliated with IIMs. The Elsevier Scopus database was selected as a tool to extract the prospective publications data limiting the time frame for 2010–2021. The IIM-Ahmedabad, IIM-Bangalore, IIM-Calcutta and IIM-Lucknow have been selected for the study. The harvested data were analyzed by using the standard bibliometric indicators and scientometric parameters to measure the research landscape such as average growth rate, compound average growth rate, relative growth rate, doubling time, degree of collaboration, collaborative index, collaborative coefficient and modified collaborative coefficient. VOSviewer 1.6.17, BibExcel and Microsoft Excel were used for data analysis and visualization.
Findings
The research productivity of selected four IIMs has shown an upward trend during the study period from 2010–2021 and accrued 4,397 publications with an average of 366 publications per year. The authorship patterns demonstrate the collaborative trends as most of the publications were produced by the multiple-authors (81.03%). IIM-Ahmedabad has produced the maximum number of publications (32.20%). The research productivity of IIMs has come out in collaboration with the 125 nations across the world and the USA, the UK, Canada, Germany and China are the front runners with IIMs in the collaborative network. The high magnitude and density of collaboration are evident from the calculated mean values of the degree of collaboration (0.82). The mean values of the collaborative index (2.64), collaborative coefficient (0.51) and modified collaborative coefficient (0.51) demonstrated a positive trend, but indicate the fluctuation in the collaborative pattern as time proceeds.
Research limitations/implications
The study is limited to the publications data indexed in the Scopus database, therefore the outcome may not be generalized across other databases available in the public domain like Web of Science (WoS), PubMed, Dimensions and Google Scholars.
Practical implications
The findings of the study may aid academics and library professionals in identifying research trends, collaboration networks and evaluating other academic and research institutions by using the current advancement in data analysis.
Originality/value
The present study is the first effort to evaluate the research productivity of IIMs. The expanding literature will make an important contribution to identifying patterns and evaluating current research trends on a worldwide scale.
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Mohd Azrai Azman, Zulkiflee Abdul-Samad, Boon L. Lee, Martin Skitmore, Darmicka Rajendra and Nor Nazihah Chuweni
Total factor productivity (TFP) change is an important driver of long-run economic growth in the construction sector. However, examining TFP alone is insufficient to identify the…
Abstract
Purpose
Total factor productivity (TFP) change is an important driver of long-run economic growth in the construction sector. However, examining TFP alone is insufficient to identify the cause of TFP changes. Therefore, this paper employs the infrequently used Geometric Young Index (GYI) and stochastic frontier analysis (SFA) to measure and decompose the TFP Index (TFPI) at the firm-level from 2009 to 2018 based on Malaysian construction firms' data.
Design/methodology/approach
To improve the TFPI estimation, normally unobserved environmental variables were included in the GYI-TFPI model. These are the physical operation of the firm (inland versus marine operation) and regional locality (West Malaysia versus East Malaysia). Consequently, the complete components of TFPI (i.e. technological, environmental, managerial, and statistical noise) can be accurately decomposed.
Findings
The results reveal that TFP change is affected by technological stagnation and improvements in technical efficiency but a decline in scale-mix efficiency. Moreover, the effect of environmental efficiency on TFP is most profound. In this case, being a marine construction firm and operating in East Malaysia can reduce TFPI by up to 38%. The result, therefore, indicates the need for progressive policies to improve long-term productivity.
Practical implications
Monitoring and evaluating productivity change allows an informed decision to be made by managers/policy makers to improve firms' competitiveness. Incentives and policies to improve innovation, competition, training, removing unnecessary taxes and regulation on outputs (inputs) could enhance the technological, technical and scale-mix of resources. Furthermore, improving public infrastructure, particularly in East Malaysia could improve regionality locality in relation to the environmental index.
Originality/value
This study contributes to knowledge by demonstrating how TFP components can be completely modelled using an aggregator index with good axiomatic properties and SFA. In addition, this paper is the first to apply and include the GYI and environmental variables in modelling construction productivity, which is of crucial importance in formulating appropriate policies.
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This study aims to measure the global research landscape of the National Institute of Pharmaceutical Education and Research (NIPER) of India on a set of quantitative and…
Abstract
Purpose
This study aims to measure the global research landscape of the National Institute of Pharmaceutical Education and Research (NIPER) of India on a set of quantitative and qualitative metrics in terms of research output toward exploring research trends and give an overview of collaborative practices by researchers of NIPERs.
Design/methodology/approach
The present study has selected the Scopus database as a tool to retrieve potential publications of studied NIPERs during the last 12 years (2010–2021). NIPER-Mohali, NIPER-Hyderabad, NIPER-Ahmedabad, NIPER-Guwahati and NIPER-Kolkata have been selected for the study. The study has adopted a comprehensive search strategy to extract 3,926 publications data. VOS viewer 1.6.17, BibExcel and Microsoft Excel were used for data analysis and visualization.
Findings
The global scientific research output of NIPERs accrued 3,926 publications with an average of 327 publications per year. The retrieved publications fetched a total of 67,772 citations with an average citation impact of 17.26. There observed a steady growth of publications from 168 to 509 registered with an average growth rate of 18.44%. The mean relative growth rate and doubling time of research output are 0.26 and 2.94. The authorship patterns explore collaborative trends as most of the publications were published by multiple authors (99.39%). NIPERs have expanded their outreach to collaborate with the USA, Malaysia, Saudi Arabia, Australia and the UK to collaborate on research and regulatory reforms exhibits in the USA as a major contributor.
Originality/value
The present study is the first effort to evaluate the global research productivity of NIPERs and assess the current research trends on a set of quantitative and qualitative metrics to provide some insights into the complex dynamics of research productivity. The study’s outcome may help to identify the current research progress of NIPERs at the global level.
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