Effectiveness of frequent inventory audits in retail stores: an empirical evaluation

2019 ◽  
Vol 31 (1) ◽  
pp. 21-41
Author(s):  
Rafay Ishfaq ◽  
Uzma Raja
Keyword(s):  
Inventory Management ◽  
Interaction Effect ◽  
Empirical Evaluation ◽  
Evaluation Framework ◽  
Retail Stores ◽  
Audit Process ◽  
Data Set ◽  
Content Type ◽  
Error Profile ◽  
Novel Approach

Purpose The purpose of this paper is to focus on the effectiveness of the inventory audit process to manage operational issues related to inventory errors in retail stores. An evaluation framework is proposed based on developing an error profile of store inventory using product attributes and inventory information. Design/methodology/approach A store inventory error profile is developed using data on price, sales, popularity, replenishment cycle, inventory levels and inventory errors. A simulation model of store inventory management system grounded in empirical data is used to evaluate the effectiveness of the inventory audit process in a high SKU-variety retail store. The framework is tested using a large transaction data set comprised of over 200,000 records for 7,400 SKUs. Findings The results show that store inventory exhibits different inventory error profile groups that would determine the effectiveness of store inventory audits. The results also identify an interaction effect between store inventory policies and replenishment process that moderates the effectiveness of inventory audits. Research limitations/implications The analysis is based on data collected from a single focal firm and does not cover all the different segments of the retail industry. However, the evaluation framework presented in the paper is fully generalizable to different retail settings offering opportunity for additional studies. Practical implications The findings about the role of different error profile groups and the interaction effect of store audits with inventory and store replenishments would help retailers incorporate a more effective inventory audit process in their stores. Originality/value This paper presents a novel approach that uses store inventory profiles to evaluate the effectiveness of inventory audits. Unlike previous papers, it is the first empirical study in this area that is based on inventory error data gathered from multiple audits that identify the interaction effect of inventory policy and replenishments on the inventory audit process.

Does intellectual capital impact firms' capital structure? Exploring the role of firm risk and profitability

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
A. D'Amato
Keyword(s):  
Capital Structure ◽  
Intellectual Capital ◽  
Value Added ◽  
Firm Risk ◽  
Financial Leverage ◽  
Data Set ◽  
Content Type ◽  
Novel Approach ◽  
Firm Profitability ◽  
The Relationship

PurposeThe purpose of this paper is to analyze the relationship between intellectual capital and firm capital structure by exploring whether firm profitability and risk are drivers of this relationship.Design/methodology/approachBased on a comprehensive data set of Italian firms over the 2008–2017 period, this paper examines whether intellectual capital affects firm financial leverage. Moreover, it analyzes whether firm profitability and risk mediate the abovementioned relationship. Financial leverage is measured by the debt/equity ratio. Intellectual capital is measured via the value-added intellectual coefficient approach.FindingsThe findings show that firms with a high level of intellectual capital have lower financial leverage and are more profitable and riskier than firms with a low level of intellectual capital. Furthermore, this study finds that firm profitability and risk mediate the relationship between intellectual capital and financial leverage. Thus, the higher profitability and risk of intellectual capital-intensive firms help explain their lower financial leverage.Research limitations/implicationsThe findings have several implications. From a theoretical standpoint, the paper presents and tests a mediating model of the relationship between intellectual capital and financial leverage and its underlying processes. In terms of the more general managerial implications, the results provide managers with a clear interpretation of the relationship between intellectual capital and financial leverage and point to the need to strengthen the capital structure of intangible-intensive firms.Originality/valueThrough a mediation framework, this study provides empirical evidence on the relationship between intellectual capital and firm financial leverage by exploring the underlying mechanisms behind that relationship, which is a novel approach in the literature.

Exploring multiple diversification strategies for academic citation contexts recommendation

2020 ◽  
Vol 38 (4) ◽  
pp. 821-842
Author(s):  
Haihua Chen ◽  
Yunhan Yang ◽  
Wei Lu ◽  
Jiangping Chen
Keyword(s):  
Information Retrieval ◽  
Information Needs ◽  
Semantic Distance ◽  
Evaluation Framework ◽  
Data Set ◽  
Content Type ◽  
User Interests ◽  
Information Retrieval Evaluation ◽  
Diversification Strategies ◽  
Citation Contexts

Purpose Citation contexts have been found useful in many scenarios. However, existing context-based recommendations ignored the importance of diversity in reducing the redundant issues and thus cannot cover the broad range of user interests. To address this gap, the paper aims to propose a novelty task that can recommend a set of diverse citation contexts extracted from a list of citing articles. This will assist users in understanding how other scholars have cited an article and deciding which articles they should cite in their own writing. Design/methodology/approach This research combines three semantic distance algorithms and three diversification re-ranking algorithms for the diversifying recommendation based on the CiteSeerX data set and then evaluates the generated citation context lists by applying a user case study on 30 articles. Findings Results show that a diversification strategy that combined “word2vec” and “Integer Linear Programming” leads to better reading experience for participants than other diversification strategies, such as CiteSeerX using a list sorted by citation counts. Practical implications This diversifying recommendation task is valuable for developing better systems in information retrieval, automatic academic recommendations and summarization. Originality/value The originality of the research lies in the proposal of a novelty task that can recommend a diversification context list describing how other scholars cited an article, thereby making citing decisions easier. A novel mixed approach is explored to generate the most efficient diversifying strategy. Besides, rather than traditional information retrieval evaluation, a user evaluation framework is introduced to reflect user information needs more objectively.

Quantile forecasts using the Realized GARCH-EVT approach

2018 ◽  
Vol 35 (4) ◽  
pp. 481-504 ◽  
Author(s):  
Samit Paul ◽  
Prateek Sharma
Keyword(s):  
Value At Risk ◽  
Realized Volatility ◽  
Value Theory ◽  
Two Stage ◽  
Cross Sectional ◽  
Data Set ◽  
Content Type ◽  
Stock Indices ◽  
Novel Approach ◽  
Cross Sectional Dimension

PurposeThis study aims to implement a novel approach of using the Realized generalized autoregressive conditional heteroskedasticity (GARCH) model within the conditional extreme value theory (EVT) framework to generate quantile forecasts. The Realized GARCH-EVT models are estimated with different realized volatility measures. The forecasting ability of the Realized GARCH-EVT models is compared with that of the standard GARCH-EVT models.Design/methodology/approachOne-step-ahead forecasts of Value-at-Risk (VaR) and expected shortfall (ES) for five European stock indices, using different two-stage GARCH-EVT models, are generated. The forecasting ability of the standard GARCH-EVT model and the asymmetric exponential GARCH (EGARCH)-EVT model is compared with that of the Realized GARCH-EVT model. Additionally, five realized volatility measures are used to test whether the choice of realized volatility measure affects the forecasting performance of the Realized GARCH-EVT model.FindingsIn terms of the out-of-sample comparisons, the Realized GARCH-EVT models generally outperform the standard GARCH-EVT and EGARCH-EVT models. However, the choice of the realized estimator does not affect the forecasting ability of the Realized GARCH-EVT model.Originality/valueIt is one of the earliest implementations of the two-stage Realized GARCH-EVT model for generating quantile forecasts. To the best of the authors’ knowledge, this is the first study that compares the performance of different realized estimators within Realized GARCH-EVT framework. In the context of high-frequency data-based forecasting studies, a sample period of around 11 years is reasonably large. More importantly, the data set has a cross-sectional dimension with multiple European stock indices, whereas most of the earlier studies are based on the US market.

Post-crisis bank behavior: lessons from Mercosur

2016 ◽  
Vol 11 (4) ◽  
pp. 584-606 ◽  
Author(s):  
Montfort Mlachila ◽  
Sarah Sanya
Keyword(s):  
Risk Taking ◽  
Global Financial Crisis ◽  
Lessons Learned ◽  
Data Set ◽  
Macroeconomic Factors ◽  
Content Type ◽  
Credit Supply ◽  
Novel Approach ◽  
Bank Behavior ◽  
The Impact

Purpose The purpose of this paper is to answer one important question: in the aftermath of a systemic banking crisis, can the expected deviations in credit supply, liquidity, and other bank characteristics become entrenched in that they do not converge back to “normal”? Design/methodology/approach Using a panel data set of commercial banks in the Mercosur during the period 1990-2006, the authors analyze the impact of crises on four sets of financial indicators of bank behavior and outcomes – profitability, maturity preference, credit supply, and risk taking. The authors employ convergence methodology – which is often used in the growth literature – to identify the evolution of bank behavior in the region after crises. Findings A key finding of the paper is that bank risk-taking behavior is significantly modified leading to prolonged reduction of intermediation to the private sector in favor of less risky government securities and preference for high levels excess liquidity well after the crisis. This can be attributed to the role played by macroeconomic and institutional volatility that has nurtured a relatively high level of risk aversion in banks in the Mercosur. Originality/value To the best of the authors’ knowledge, using convergence methodology is a relatively novel approach in this area. An added advantage of using this approach over others currently used in the literature is that the authors can empirically quantify the rate of convergence and the institutional and macroeconomic factors that condition the convergence. Moreover, the methodology allows one to identify – in some hierarchical order – factors that condition persistent deviation from “normality.” The lessons learned from the Mercosur case study are useful for countries that suffered systemic banking crises in the aftermath of the global financial crisis.

scholarly journals Motivations for support to retired parents in Israel

2014 ◽  
Vol 41 (2) ◽  
pp. 94-108 ◽  
Author(s):  
Ariel Atzil ◽  
Eli Feinerman
Keyword(s):  
Empirical Evaluation ◽  
Parent Support ◽  
Decision Makers ◽  
Cultural Perspective ◽  
Probit Regression ◽  
Data Set ◽  
Content Type ◽  
Parents And Children ◽  
The Government ◽  
The Impact

Purpose – Enabling decision-makers in Israel to better assess the prospects of government policies aimed at changing inter-generation income distribution for the benefit of the retirees. Design/methodology/approach – Based on a comprehensive data set, the paper utilizes multivariate ordered-probit regression for empirical investigation of the motivations for support between parents and children in Israel. Findings – The main finding is that child-parent support in Israel is usually driven by a combination of exchange and altruistic motives, rather than altruism alone. Practical implications – Child-parent support will not reduce the impact of governmental policies aimed at redistributing income among different generations. If the Government of Israel raises the income level of its citizens aged 65 and over, the improvement in this population's condition will most probably be bigger than that caused directly by the amount the government has added to their income. Originality/value – Empirical evaluation of the motivations for support given by children to their retired parents in Israel. Israel is a multicultural, immigrant country, home to people originating from all over the world, which provides an interesting cross-cultural perspective. In addition, the underlying database used in this study includes much more information than most databases utilized by earlier studies.

Life after death: acquired fund performance

2018 ◽  
Vol 44 (3) ◽  
pp. 389-402 ◽  
Author(s):  
Anni Lapatto ◽  
Vesa Puttonen
Keyword(s):  
Mutual Fund ◽  
Investment Strategy ◽  
Fund Performance ◽  
Wealth Effects ◽  
Data Set ◽  
Content Type ◽  
Life After Death ◽  
Novel Approach ◽  
Equity Funds ◽  
Fund Mergers

Purpose The purpose of this paper is to study how the target fund in mutual fund mergers performed compared to the acquiring funds had they not been merged but continued on their own as buy-and-hold portfolios. Design/methodology/approach The authors develop a novel approach to examine post-merger wealth effects. The authors’ study how the target portfolios would have performed compared to the funds acquiring them had they not been merged but continued on their own as passive portfolios. The data set consists of 793 merging US equity funds from January 2003 to December 2014. Findings The authors find that the target portfolio shareholders would have been better off if the target fund had been converted from an actively managed fund to a passively managed fund that maintained their current holdings. Research limitations/implications The findings are the opposite to many previous studies who view target fund shareholders as the major beneficiaries in mutual fund mergers. Practical implications Investors receiving notification of their fund merging should reconsider their investment strategy. If they wish to maintain the original strategy of their fund, they should oppose the merger. Alternatively they may withdraw their money from the (soon-to-be) merged fund, replicate the latest portfolio of their fund, and buy-and-hold that portfolio. Originality/value The authors develop a novel approach to examine post-merger wealth effects.

scholarly journals Extracting scientific trends by mining topics from Call for Papers

2019 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Noor Arshad ◽  
Abu Bakar ◽  
Saira Hanif Soroya ◽  
Iqra Safder ◽  
Sajjad Haider ◽  
...  
Keyword(s):  
Digital Libraries ◽  
Publication Output ◽  
Big Data Analytics ◽  
Research Administration ◽  
Privacy And Security ◽  
Scientific Publications ◽  
Data Set ◽  
Content Type ◽  
Computing Machinery ◽  
Novel Approach

Purpose The purpose of this paper is to present a novel approach for mining scientific trends using topics from Call for Papers (CFP). The work contributes a valuable input for researchers, academics, funding institutes and research administration departments by sharing the trends to set directions of research path. Design/methodology/approach The authors procure an innovative CFP data set to analyse scientific evolution and prestige of conferences that set scientific trends using scientific publications indexed in DBLP. Using the Field of Research code 804 from Australian Research Council, the authors identify 146 conferences (from 2006 to 2015) into different thematic areas by matching the terms extracted from publication titles with the Association for Computing Machinery Computing Classification System. Furthermore, the authors enrich the vocabulary of terms from the WordNet dictionary and Growbag data set. To measure the significance of terms, the authors adopt the following weighting schemas: probabilistic, gram, relative, accumulative and hierarchal. Findings The results indicate the rise of “big data analytics” from CFP topics in the last few years. Whereas the topics related to “privacy and security” show an exponential increase, the topics related to “semantic web” show a downfall in recent years. While analysing publication output in DBLP that matches CFP indexed in ERA Core A* to C rank conference, the authors identified that A* and A tier conferences not merely set publication trends, since B or C tier conferences target similar CFP. Originality/value Overall, the analyses presented in this research are prolific for the scientific community and research administrators to study research trends and better data management of digital libraries pertaining to the scientific literature.

Accelerate proposal generation in R-CNN methods for fast pedestrian extraction

2019 ◽  
Vol 37 (3) ◽  
pp. 435-453
Author(s):  
Juncheng Wang ◽  
Guiying Li
Keyword(s):  
Object Detection ◽  
Pedestrian Detection ◽  
Data Preprocessing ◽  
Detection Task ◽  
Data Sets ◽  
Data Set ◽  
Content Type ◽  
Novel Approach ◽  
General Object ◽  
And Performance

Purpose The purpose of this study is to develop a novel region-based convolutional neural networks (R-CNN) approach that is more efficient while at least as accurate as existing R-CNN methods. In this way, the proposed method, namely R2-CNN, provides a more powerful tool for pedestrian extraction for person re-identification, which involve a huge number of images and pedestrian needs to be extracted efficiently to meet the real-time requirement. Design/methodology/approach The proposed R2-CNN is tested on two types of data sets. The first one the USC Pedestrian Detection data set, which consists of three sub-sets USC-A, UCS-B and USC-C, with respect to their characteristics. This data set is used to test the performance of R2-CNN in the pedestrian extraction task. The speed and performance of the investigated algorithms were collected. The second data set is the PASCAL VOC 2007 data set, which is a common benchmark data set for object detection. This data set was used to analyze characteristics of R2-CNN in the case of general object detection task. Findings This study proposes a novel R-CNN method that is both more efficient and more accurate than existing methods. The method, when used as an object detector, would facilitate the data preprocessing stage of person re-identification. Originality/value The study proposes a novel approach for object detection, which shows advantages in both efficiency and accuracy for pedestrian detection task. It contributes to both data preprocessing for person re-identification and the research on deep learning.

scholarly journals Initiating nascent entrepreneurial activities

2015 ◽  
Vol 21 (1) ◽  
pp. 27-49 ◽  
Author(s):  
Manoj Chandra Bayon ◽  
Yancy Vaillant ◽  
Esteban Lafuente
Keyword(s):  
Interaction Effect ◽  
Adult Population ◽  
Positive Influence ◽  
Positive Interaction ◽  
Data Set ◽  
Capital Theory ◽  
Content Type ◽  
Entrepreneurial Behaviour ◽  
Entrepreneurial Ability ◽  
Entrepreneurial Activities

Purpose – The purpose of this paper is to examine the direct effect of two individual-level resources, one subjective and the other objective, and their interaction in influencing the business entry decision. By distinguishing perceived ability from actual ability and using theoretical underpinnings from the human capital theory and self-efficacy theory, the proposed hypotheses are tested on a data set comprising respondents from the adult population. Design/methodology/approach – Using 20,046 observations from the adult population survey (APS) collected according to the global entrepreneurship monitor (GEM) methodology, a logistic regression analysis controlling for robust interaction term is used to determine the direct and interaction effect of perceived entrepreneurial ability and actual ability in influencing the decision to initiate nascent entrepreneurial activities. Findings – The results reveal that perceived entrepreneurial ability has a distinct positive influence on the decision to initiate entrepreneurial activities and its impact is greater than that of actual abilities. Furthermore, the authors find evidence of a positive interaction effect suggesting that perceived entrepreneurial ability is a key determinant of entrepreneurial initiatives among those with high actual ability. Originality/value – The main contribution of the study is to highlight the role of subjective judgements of ability in influencing entrepreneurial behaviour. Whereas prior research has found that actual ability influences new venture performance, its influence on new business entry was inconclusive. By including perceived entrepreneurial ability to the model the authors not only establish a link between objective (observable) abilities and subjective (unobservable) abilities of individuals but also suggest the mechanism through which subjective ability perception drive the business entry decisions of individuals.

Assurance quality, disclosed connectivity of the capitals and information asymmetry – An interaction analysis for the case of integrated reporting

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Michael Grassmann ◽  
Stephan Fuhrmann ◽  
Thomas W. Guenther
Keyword(s):  
Information Asymmetry ◽  
Interaction Effect ◽  
Design Methodology ◽  
Interaction Analysis ◽  
Third Party ◽  
Integrated Reporting ◽  
Data Set ◽  
Content Type ◽  
High Assurance ◽  
Practical Implications

Purpose Credibility concerns regarding integrated reports can harm the intended decrease of information asymmetry between a firm and its investors. Therefore, it is crucial to examine whether voluntary third-party assurance enhances the credibility of integrated reports and, thus, decreases information asymmetry. Furthermore, this study aims to investigate the interaction effect between assurance quality and the disclosed connectivity of the capitals, a distinguishing feature of integrated reports. Design/methodology/approach Content analysis is performed of the 176 assurance statements included in the 269 integrated reports of Forbes Global 2000 firms disclosed from 2013 to 2015 and the 269 integrated reports themselves. Regression analyzes are applied to examine the associations between assurance, the disclosed connectivity of the capitals and information asymmetry. Findings The presence of an assurance statement in an integrated report significantly decreases information asymmetry. Surprisingly, assurance quality is not significantly associated with information asymmetry. However, an interaction analysis reveals that combining high assurance quality with high disclosed connectivity of the capitals allows a significant decrease in information asymmetry. Research limitations/implications The paper demonstrates that the connectivity of the capitals of integrated reports and assurance quality are connected and together are associated with information asymmetry. Practical implications The results imply, both for report preparers and standard setters, that assurance quality is advantageous only when combined with disclosed connectivity of the capitals. Social implications More information on non-financial information measured by the connectivity of the capitals of integrated reporting has an interaction effect together with assurance quality on information asymmetry. Originality/value This paper builds on a unique data set derived from the contents of integrated reports and accompanying assurance statements. Furthermore, it extends the integrated reporting literature by investigating the interaction between assurance quality and the disclosed connectivity of the capitals, which had not previously been examined in combination.

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