Performance of agricultural cooperative banks in Japan

2019 ◽  
Vol 80 (1) ◽  
pp. 38-50
Author(s):  
Kozo Harimaya ◽  
Koichi Kagitani
Keyword(s):  
Stochastic Frontier ◽  
Ordinary Least Squares ◽  
Agricultural Cooperatives ◽  
Least Squares Regression ◽  
Business Services ◽  
Lower Efficiency ◽  
Data Set ◽  
Content Type ◽  
Banking Business ◽  
Insurance Business

Purpose The purpose of this paper is to investigate the efficiency of the banking business of Japan’s agricultural cooperatives (JAs), which depend heavily on financial business with non-farmers, contradictory to cooperative principles. Design/methodology/approach The authors construct a panel data set over 2005–2016 from the financial statements of JAs’ prefectural-level federations and use the input distance stochastic frontier model with a time-variant inefficiency effect for analysis. Both the flow and stock measures of the banking output are used in identical models and the efficiency results are compared. The authors also investigate the determinants of efficiency by using the Tobit and ordinary least squares regression models. Findings There is strong evidence of significant prefectural differences in efficiency values. The ratio of lending to non-members to total loans is positively related to efficiency. In contrast, the higher reliance on a central organization and credit business leads to lower efficiency. Research limitations/implications Apart from banking, JAs provide mutual insurance business services. As the authors investigate only the efficiency of JAs’ banking business in this study, it would be necessary to investigate the efficiency of their insurance business as well when evaluating JAs’ overall financial business. Originality/value There are few studies that investigate the efficiency of JAs’ banking business and its determinants, although significant attention has been paid to their excessive dependence on the financial business.

From service engagement to product purchase: cross-buying behavior in hospitality contexts

2020 ◽  
Vol 32 (7) ◽  
pp. 2325-2343 ◽  
Author(s):  
Shuang Ma ◽  
Chao Zhang ◽  
Yonggui Wang
Keyword(s):  
Ordinary Least Squares ◽  
Major Product ◽  
Marketing Strategies ◽  
Frontline Employees ◽  
Least Squares Regression ◽  
Data Set ◽  
Content Type ◽  
Monetary Value ◽  
Service Engagement ◽  
Hotel Customers

Purpose The purpose of this paper is to explore the transformation from service engagement through hotel consumption behavior to subsequent product purchases and identify marketing strategies to facilitate this transformation. Design/methodology/approach Using a 1.5-year data set of transactional data from a typical hotel firm, the authors examined 4,999 valid purchase events via ordinary least squares regression to test the hypotheses proposed. Findings Contrary to studies indicating that heavy hospitality users are resistant to external change, the authors found that hotel service engagement (in terms of recency, frequency and monetary value) significantly informed subsequent product purchases. Effects varied based on customized solutions and product purchase channel. Practical implications Product managers in hospitality should target customers who have recently patronized hotels as well as hotel customers with high monetary value and frequency. Managers can adopt distinct marketing strategies (e.g. customized solutions and purchase channels) to sell hotel customers more products. Originality/value Prior studies have framed the cross-selling of hospitality services as a vital revenue management strategy from hotel firms’ or frontline employees’ perspectives. However, to the best of the authors’ knowledge, this is the first study to test how hotels cross-sell tangible products by targeting customers engaging in hotel consumption and by examining two major product marketing strategies that may facilitate or hinder this cross-selling process.

Positioning fast moving luxury goods in a discount environment

2016 ◽  
Vol 28 (1) ◽  
pp. 22-42 ◽  
Author(s):  
David Priilaid
Keyword(s):  
Fast Moving ◽  
Country Of Origin ◽  
Ordinary Least Squares ◽  
Least Squares Regression ◽  
Extrinsic Factors ◽  
Data Set ◽  
Content Type ◽  
Valuation Model ◽  
Discount Retailers ◽  
Input Variables

Purpose – This paper aims to understand how a fast moving luxury good like whisky is typically positioned within South Africa’s discounted retail environment and how this positioning could be improved. So doing this paper introduces an econometric valuation model to establish the relative efficacy of contending extrinsic cues in the explanation of whisky prices. Design/methodology/approach – An ordinary least squares regression model is developed from a data set of 122 whiskies drawn from the 2014 festive-season catalogues of two large South African discount retailers. In estimating the whisky pricing function, the hedonic contribution of the following input variables is estimated: age in respect of blended whiskies and single premium malts, in-store supply, claims of retail exclusivity, branding, country-of-origin and packaging formats. Findings – Age effects as they relate to single malts, and mass produced grain whiskies offer the greatest explanation of price, while scarcity effects are observed, along with claims of retail exclusivity which are found to reduce product value significantly. Country-of-origin and packaging however have low to negligible effects. Originality/value – To producers and marketers of whisky, these findings offer insight as to which extrinsic factors could be better amplified, modified or excised if the product is to be optimally positioned. Implications are explored.

Linking service innovation to firm performance

2017 ◽  
Vol 11 (4) ◽  
pp. 730-750 ◽  
Author(s):  
Markus Chiahan Tsai ◽  
Chunhsien Wang
Keyword(s):  
Firm Performance ◽  
Market Orientation ◽  
Service Innovation ◽  
Original Data ◽  
Ordinary Least Squares ◽  
Least Squares Regression ◽  
Data Set ◽  
Content Type ◽  
Marketing Orientation ◽  
Service Oriented

Purpose How in essence a firm’s service innovation affects its performance is always an intriguing and important issue to business researchers and practitioners. However little is known about the moderating effects of a firm’s approach to innovation and capability of marketing orientation that influence this aforementioned relationship and the underlying mechanisms. This paper aims to examine how ambidextrous innovation (exploration and exploitation innovation) and market orientation capabilities (market-sensing and customer-linking capabilities) can shape the relationship between service innovation and firm performance. Research model was developed based on theoretical foundation of the resource-based view and the rationed perspective. Design/methodology/approach Using an original data set comprising 170 service-oriented firms from Taiwan, the authors found that ambidextrous innovation and market orientation capabilities can significantly enhance performance for service-oriented firms. The authors used the traditional ordinary least squares regression and the zero-inflated Poisson regression to test the five hypotheses. Findings The empirical results fully support the hypotheses that ambidextrous innovation and market orientation capabilities can significantly enhance firm performance. These results imply that the benefits of ambidextrous innovation and market orientation capabilities can coexist in a service innovation deployment and that these combined benefit firm performance. Originality/value The ambidextrous innovation and market orientation capabilities play catalytic roles during innovative service implementation in the service-oriented sectors. The roles of these factors have rarely been examined together before. Hence, this study addresses the gaps in current understanding and provides valuable insights, particularly in the context of the future service innovation deployment. In addition, the theoretical and managerial implications of the findings provide useful and valuable information for both the researchers and managers of the service-oriented.

Land value impacts of Airbnb listings on single-family homes in Austin, Texas, USA

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Junfeng Jiao ◽  
Kent Hansen ◽  
Amin Azimian
Keyword(s):  
Spatial Distribution ◽  
Bayesian Model ◽  
Ordinary Least Squares ◽  
Lower Percentage ◽  
Land Values ◽  
Land Value ◽  
Least Squares Regression ◽  
Single Family ◽  
Data Set ◽  
Content Type

Purpose This study aims to explore the impacts of Airbnb listings on land values in the Austin, Texas, USA area, particularly on single-family homes. The goal of the analysis is to shed light on how greatly and in what direction Airbnb is affecting the housing market, with an emphasis on the spatial distribution of its effects. Design/methodology/approach The analysis in this paper is performed using three distinct models on a data set of land parcel data within Travis County: an ordinary least squares regression model, a geographically weighted regression (GWR) aimed at detecting the influence of variables at the census tract level, and a Bayesian approach, which describes spatial and temporal effects on the data. Findings The findings of the analysis indicate that across the years 2013 to 2019, higher numbers of Airbnb listings were associated with lower percentage increases in land value in certain tracts in the northern and eastern parts of the city. Additionally, the results of the Bayesian model indicated that much of the change in land value can be attributed to unobserved factors within census tracts. Originality/value The contribution of this study to the existing literature is its analysis of the spatial and temporal analysis of the effects of Airbnb listings on land value using a GWR and a Bayesian model. Also, as the negative correlation found in the study departs from previous research, this paper may provide policymakers insight into the complex spatial distribution and conflicting effects of Airbnb listings across distinct parts of cities.

Human capital, intellectual capital, and government venture capital

2017 ◽  
Vol 6 (3) ◽  
pp. 359-374 ◽  
Author(s):  
Ikenna Uzuegbunam ◽  
Yin-Chi Liao ◽  
Luke Pittaway ◽  
G. Jason Jolley
Keyword(s):  
Venture Capital ◽  
Intellectual Capital ◽  
Ordinary Least Squares ◽  
New Venture ◽  
Least Squares Regression ◽  
Data Set ◽  
Content Type ◽  
Nuanced Understanding ◽  
Start Ups ◽  
The Impact

Purpose The purpose of this paper is to examine the impact of human and intellectual capital on start-ups’ attainment of government venture capital (GVC). It is theorized that as a result of government predisposition toward enhancing knowledge spillover and certifying underinvested start-ups, different types of human and intellectual capital possessed by start-ups will distinctly affect GVC funding. Design/methodology/approach The Kauffman Firm Survey, a panel data set of 4,928 new US firms over a five-year period (2004-2008), serves as the data source. Ordinary least squares regression, coupled with generalized estimating equations to check for robustness, is used to determine the effect of human and intellectual capital on GVC funding. Findings Founders’ educational attainment has a greater impact than their occupational experience in GVC funding. While the number of patents owned by the start-up increases GVC funding, the number of trademarks and copyrights negatively influence GVC funding. Originality/value By distinguishing between different aspects of human and intellectual capital, this study provides a more nuanced understanding of the influence of new venture resources in the context of GVC.

How friendship networks work in online P2P lending markets

2015 ◽  
Vol 6 (1) ◽  
pp. 42-67 ◽  
Author(s):  
Siming Li ◽  
Zhangxi Lin ◽  
Jiaxian Qiu ◽  
Roozmehr Safi ◽  
Zhongyi Xiao
Keyword(s):  
Interest Rates ◽  
Ordinary Least Squares ◽  
Friendship Networks ◽  
Least Squares Regression ◽  
Friendship Network ◽  
Data Set ◽  
Content Type ◽  
P2p Lending ◽  
The Impact ◽  
The Relationship

Purpose – The purpose of this paper is to study the effects of multidimensional friendship networks on economic outcomes in the domain of online people-to-people (P2P) lending markets. Design/methodology/approach – The empirical analysis is based on the data set of transactions and friendship networks from PPDai.com market, the most prominent P2P lending market in China. A friendship hierarchy is proposed in this paper to conceptualize friendship network types. Furthermore, methodologies of t-test, logistic regression and ordinary least squares regression are implemented to measure the impact of multidimensional friendship network variables on the probability of successful funding, as well as the interest rates on funded loans. Findings – The study demonstrates significant effects of structural, relational and cognitive friendship networks using PPDai.com data. The results indicate that structural friendship network measured in terms of the number of friendship ties is a significant factor of funding performance. Additionally, borrowers, who are involved in higher-quality friendship networks, are more likely to be funded and pay lower interest rates on funded loans. Also, the deeper the level of the relationship is in the friendship hierarchy, the more significant will be the effect of friendship on the final economic results. Furthermore, quality is more important than quantity in determining funding performance. Originality/value – This paper is the first to study the effects of multidimensional friendship networks on economic outcome variables in the domain of online P2P lending, thus broadening the theory of multidimensional social capital, which can deepen our understanding about how social networks work and have significant implications practically and theoretically.

The impact of executives’ perceptions of environmental threats and organizational slack on innovation strategies

2016 ◽  
Vol 7 (2) ◽  
pp. 216-230 ◽  
Author(s):  
Chengyuan Wang ◽  
Biao Luo ◽  
Yong Liu ◽  
Zhengyun Wei
Keyword(s):  
Cognitive Theory ◽  
Environmental Changes ◽  
Ordinary Least Squares ◽  
Organizational Slack ◽  
Least Squares Regression ◽  
Content Type ◽  
Environmental Threats ◽  
Innovation Strategies ◽  
The Impact ◽  
The Relationship

Purpose The paper aims to study the relationship between executives’ perceptions of environmental threats and innovation strategies and investigate the moderating effect of contextual factor (i.e. organizational slack) on such relations. It proposes a dualistic relationship between executives’ perceptions of environmental threats and innovation strategies, in which different perceptions of environmental threats will lead to corresponding innovation strategies, and dyadic organizational slack can promote such processes. Design/methodology/approach The paper is based on a survey with 163 valid questionnaires, which were all completed by executives. Hierarchical ordinary least-squares regression analysis is used to test the hypotheses proposed in this paper. Findings The paper provides empirical insights about that executives tend to choose exploratory innovation when they perceive environmental changes as likely loss threats, yet adopt exploitative innovation when perceiving control-reducing threats. Furthermore, unabsorbed slack (e.g. financial redundancy) positively moderates both relationships, while absorbed slack (e.g. operational redundancy) merely positively influences the relationship between the perception of control-reducing threats and exploitative innovation. Originality/value The paper bridges the gap between organizational innovation and cognitive theory by proposing a dualistic relationship between executives’ perceptions of environmental threats and innovation strategies. The paper further enriches innovation studies by jointly considering both subjective and objective influence factors of innovation and argues that organizational slack can moderate such dualistic relationship.

Estimating defaults in organized security lending markets

2016 ◽  
Vol 24 (3) ◽  
pp. 343-362
Author(s):  
Latif Cem Osken ◽  
Ceylan Onay ◽  
Gözde Unal
Keyword(s):  
Credit Risk ◽  
Stock Returns ◽  
Stock Price ◽  
Price Volatility ◽  
Equity Market ◽  
Ordinary Least Squares ◽  
Least Squares Regression ◽  
Content Type ◽  
Central Counterparties ◽  
Risk Determinants

Purpose This paper aims to analyze the dynamics of the security lending process and lending markets to identify the market-wide variables reflecting the characteristics of the stock borrowed and to measure the credit risk arising from lending contracts. Design/methodology/approach Using the data provided by Istanbul Settlement and Custody Bank on the equity lending contracts of Securities Lending and Borrowing Market between 2010 and 2012 and the data provided by Borsa Istanbul on Equity Market transactions for the same timeframe, this paper analyzes whether stock price volatility, stock returns, return per unit amount of risk and relative liquidity of lending market and equity market affect the defaults of lending contracts by using both linear regression and ordinary least squares regression for robustness and proxying the concepts of relative liquidity, volatility and return constructs by more than variable to correlate findings. Findings The results illustrate a statistically significant relationship between volatility and the default state of the lending contracts but fail to establish a connection between default states and stock returns or relative liquidity of markets. Research limitations/implications With the increasing pressure for clearing security lending contracts in central counterparties, it is imperative for both central counterparties and regulators to be able to precisely measure the risk exposure due to security lending transactions. The results gained from a limited set of lending transactions merit further studies to identify non-borrower and non-systemic credit risk determinants. Originality/value This is the first study to analyze the non-borrower and non-systemic credit risk determinants in security lending markets.

Personality, risk tolerance and social network use: an exploratory study

2016 ◽  
Vol 42 (6) ◽  
pp. 536-552 ◽  
Author(s):  
Shaista Wasiuzzaman ◽  
Siavash Edalat
Keyword(s):  
Social Networks ◽  
Social Network ◽  
Online Social Networks ◽  
Financial Risk ◽  
Ordinary Least Squares ◽  
Risk Tolerance ◽  
Network Activity ◽  
Least Squares Regression ◽  
Content Type ◽  
Financial Risk Tolerance

Purpose – The vast amount of information available via online social networks (OSN) makes it a very good avenue for understanding human behavior. One of the human characteristics of interest to financial practitioners is an individual’s financial risk tolerance. The purpose of this paper is to look at the relationship between an individual’s OSN behavior and his/her financial risk tolerance. Design/methodology/approach – The study uses data collected from a sample of 220 university students and the backward variables selection ordinary least squares regression analysis technique to achieve its objective. Findings – The results of the study find that the frequency of logging on to social network sites indicates an individual who has higher financial risk tolerance. Additionally, the increasing use of social networks for social connection is found to be associated with lower financial risk tolerance. The results are mostly consistent when the sample is split based on prior financial knowledge. Originality/value – To the authors’ knowledge this is the first study which documents the possibility of understanding an individual’s financial risk tolerance via his/her social network activity. This provides investment/financial consultants with more avenues for gathering information in order to understand their current or potential clients hence providing better services.

Quality financial inclusion and its determinants in South Africa: evidence from survey data

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Kudakwashe Joshua Chipunza ◽  
Ashenafi Fanta
Keyword(s):  
South Africa ◽  
Survey Data ◽  
Financial Services ◽  
Ordinary Least Squares ◽  
Financial Inclusion ◽  
Least Squares Regression ◽  
Content Type ◽  
Demographic Groups ◽  
Financial Products ◽  
Data Limitations

PurposeThe study measured quality financial inclusion, a more comprehensive measure of financial inclusion, and examined its determinants at a consumer level in South Africa.Design/methodology/approachThis study leveraged on FinScope 2015 survey data to compute a quality financial inclusion index using polychoric principal component analysis. Subsequently, a heteroscedasticity consistent ordinary least squares regression model was employed to assess determinants of quality financial inclusion.FindingsThe empirical findings indicated that gender, education, financial literacy, income, location and geographical proximity determine quality financial inclusion. These findings could inform policymakers and financial services providers on how quality financial inclusion can be promoted through tailoring financial products for various socio-demographic groups.Research limitations/implicationsDue to data limitations, the study was confined to South Africa and did not capture digital financial inclusion. Hence, future studies could replicate the study in Sub-Saharan Africa's context and compute an index that captures digital financial inclusion.Practical implicationsThese findings could inform policymakers and financial services providers on how quality financial inclusion can be promoted through tailoring financial products for various socio-demographic groups.Originality/valueThis study proposed a more comprehensive measure of quality financial inclusion from a demand-side perspective by accounting for important dimensions that include diversity, affordability, appropriateness and flexibility of financial products and services.

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