A financial framework for understanding macroeconomic cycles

2016 ◽  
Vol 8 (2) ◽  
pp. 268-280 ◽  
Author(s):  
Peter Lewin ◽  
Nicolas Cachanosky
Keyword(s):  
Business Cycles ◽  
Design Methodology ◽  
Average Length ◽  
Market Mechanism ◽  
Average Period ◽  
Conceptual Approach ◽  
Content Type ◽  
Asset Bubbles ◽  
Financial Framework ◽  
Average Period Of Production

Purpose A comprehensive understanding business cycles needs to account not only for the allocation of resources over time but also for resource allocation across industries at any point in time. But to properly understand how these “time-distortions” take place and how the price mechanisms that drive them work, a clear and well-defined conceptualization of the “average length” of the structure of production is required. The authors use insights provided by Macaulay’s duration and Hicks’s average period to show that financial duration and related concepts have a direct connection to macroeconomic stability. Design/methodology/approach This study uses a theoretical and conceptual approach. It first presents the connection between average period of production and financial duration and then compares and applies this to macroeconomic business cycle theories. Findings This study points to important implications for macroeconomic policy. It not only claims that a low interest rate contributes to the creation of asset bubbles but also shows the market mechanism through which the real sector is affected. The application of financial concepts to macroeconomic cycles shows the price mechanism through which resources are allocated across industries. Originality/value The financial approach we offer to business cycles is fairly unexplored. As such, this paper offers a novel conceptual and theoretical framework for business cycles.

scholarly journals Advantages and potential challenges of data management in e-maintenance

2019 ◽  
Vol 25 (3) ◽  
pp. 378-396 ◽  
Author(s):  
Arian Razmi-Farooji ◽  
Hanna Kropsu-Vehkaperä ◽  
Janne Härkönen ◽  
Harri Haapasalo
Keyword(s):  
Data Management ◽  
Design Methodology ◽  
Management Practices ◽  
Future Research ◽  
Conceptual Approach ◽  
Content Type ◽  
Different Types ◽  
Maintenance Systems ◽  
Industry Leader ◽  
Practical Implications

Purpose The purpose of this paper is twofold: first, to understand data management challenges in e-maintenance systems from a holistically viewpoint through summarizing the earlier scattered research in the field, and second, to present a conceptual approach for addressing these challenges in practice. Design/methodology/approach The study is realized as a combination of a literature review and by the means of analyzing the practices on an industry leader in manufacturing and maintenance services. Findings This research provides a general understanding over data management challenges in e-maintenance and summarizes their associated proposed solutions. In addition, this paper lists and exemplifies different types and sources of data which can be collected in e-maintenance, across different organizational levels. Analyzing the data management practices of an e-maintenance industry leader provides a conceptual approach to address identified challenges in practice. Research limitations/implications Since this paper is based on studying the practices of a single company, it might be limited to generalize the results. Future research topics can focus on each of mentioned data management challenges and also validate the applicability of presented model in other companies and industries. Practical implications Understanding the e-maintenance-related challenges helps maintenance managers and other involved stakeholders in e-maintenance systems to better solve the challenges. Originality/value The so-far literature on e-maintenance has been studied with narrow focus to data and data management in e-maintenance appears as one of the less studied topics in the literature. This research paper contributes to e-maintenance by highlighting the deficiencies of the discussion surrounding the perspectives of data management in e-maintenance by studying all common data management challenges and listing different types of data which need to be acquired in e-maintenance systems.

Reimagining transnational validity under the CISG

2018 ◽  
Vol 17 (3) ◽  
pp. 156-168
Author(s):  
Ndubuisi Nwafor ◽  
Collins Ajibo ◽  
Chidi Lloyd
Keyword(s):  
United Nations ◽  
Design Methodology ◽  
Conceptual Approach ◽  
Content Type ◽  
United Nations Convention ◽  
The United Nations ◽  
International Sale Of Goods ◽  
Analytical Approaches

Purpose The aims and objectives of the United Nations Convention on Contracts for the International Sale of Goods (CISG) have been defeated by the intrusion of domestic laws of different contracting states in the interpretation of the provisions of this Convention. One of the most abused channels of this un-uniform interpretation is through art 4 of the CISG, which excludes the matters of validity and property from the Convention’s jurisdiction. This paper, therefore, aims to critically analyze the dangers of unsystematic reliance on the domestic laws in the interpretation of art 4 of the CISG on matters involving transnational validity and property. Design/methodology/approach The paper will use doctrinal methodology with critical and analytical approaches. The paper will incisively study the doctrines, theories and principles of law associated with validity of commercial contracts and the implications of exclusion of the doctrine of “validity” under the CISG. Findings The findings and contribution to knowledge will be by way of canvassing for a uniform transnational validity doctrine that will streamline and position the CISG to serve as a uniform international commercial convention. Originality/value This paper adopted a conceptual approach. Even though the paper ventilated the views of many writers on the issue of application of the doctrine of validity under the CISG, the paper, however, carved its own niche by making original recommendations on how to create a uniform validity jurisprudence under the CISG.

scholarly journals “Tourism for all?” Considering social tourism: a perspective paper

2019 ◽  
Vol 75 (1) ◽  
pp. 61-64 ◽  
Author(s):  
Scott McCabe
Keyword(s):  
Design Methodology ◽  
Tourism Industry ◽  
Conceptual Approach ◽  
Content Type ◽  
Concise Overview ◽  
The Future

Purpose This paper aims to outline the context for social tourism as an approach that can help deliver societal goals, such as reducing inequalities, as well as benefits for deserving beneficiaries and the tourism industry. The paper highlights how social tourism can develop in the future. Design/methodology/approach The paper takes a conceptual approach to discuss these issues. Findings This paper finds that there is a great deal of potential for social tourism to contribute to the future sustainability in the tourism industry. Originality/value This paper provides a concise overview of the topic of social tourism and a model that can help researchers and other readers to understand the ways that social tourism can contribute towards a more sustainable and equitable tourism future.

A review of buyer-supplier relationship typologies: progress, problems, and future directions

2015 ◽  
Vol 30 (2) ◽  
pp. 153-170 ◽  
Author(s):  
Chanchai Tangpong ◽  
Michael D. Michalisin ◽  
Rodney D Traub ◽  
Arlyn J. Melcher
Keyword(s):  
Free Will ◽  
Design Methodology ◽  
Future Research ◽  
Conceptual Approach ◽  
Future Directions ◽  
Supplier Relationships ◽  
Content Type ◽  
Systematic Assessment ◽  
Complete Set ◽  
Empirical Approaches

Purpose – The purpose of this study is to review the existing typologies of buyer-supplier relationships (BSRs) in the literature, to critically assess their dimensions and underlying assumptions, and to propose a more complete BSR typology and future directions for BSR typology research. Design/methodology/approach – This study takes a conceptual approach in highlighting the limitations of existing BSR typologies and synthesizing their key typology-defining variables when proposing an alternative BSR typology. Findings – The proposed BSR typology is based on alternative behavioral assumptions: bounded rationality and choice-determinism, and uses relationalism, supplier dependence and buyer dependence as the typology-defining variables. This BSR typology captures four prominent BSR types in the extant literature (i.e. market/discrete relationship, captive-buyer/supplier-dominant relationship, captive-supplier/buyer-dominant relationship and strategic/bilateral partnership) and four new BSR types developed in this study (i.e. supplier-led collaboration, buyer-led collaboration, competitive/win–lose partnership, and free will/voluntary collaboration). Research limitations/implications – The performance implications of the new BSR types have yet to be empirically tested; however, empirical approaches for future research are discussed. Originality/value – As BSR typology research has been conducted over the years, a thorough review and systematic assessment of the extant research in terms of fundamental assumptions, typology-defining variables, overall progress and limitations becomes an important reflective task in guiding future research efforts toward the collective advancement in this line of inquiry. Departing from the existing literature, this study also uses more realistic BSR assumptions and a more complete set of typology-defining variables in developing an alternative BSR typology, arguably more complete and more theoretically sound than the previous BSR typologies in the literature.

Inconsistency of uncountable infinite sets under ZFC framework

Kybernetes ◽  
2008 ◽  
Vol 37 (3/4) ◽  
pp. 453-457 ◽  
Author(s):  
Wujia Zhu ◽  
Yi Lin ◽  
Guoping Du ◽  
Ningsheng Gong
Keyword(s):  
Natural Number ◽  
Set Theory ◽  
Design Methodology ◽  
Natural Numbers ◽  
Real Numbers ◽  
Conceptual Approach ◽  
Content Type ◽  
Infinite Sets ◽  
Axiomatic Set Theory ◽  
First Time

PurposeThe purpose is to show that all uncountable infinite sets are self‐contradictory non‐sets.Design/methodology/approachA conceptual approach is taken in the paper.FindingsGiven the fact that the set N={x|n(x)} of all natural numbers, where n(x)=df “x is a natural number” is a self‐contradicting non‐set in this paper, the authors prove that in the framework of modern axiomatic set theory ZFC, various uncountable infinite sets are either non‐existent or self‐contradicting non‐sets. Therefore, it can be astonishingly concluded that in both the naive set theory or the modern axiomatic set theory, if any of the actual infinite sets exists, it must be a self‐contradicting non‐set.Originality/valueThe first time in history, it is shown that such convenient notion as the set of all real numbers needs to be reconsidered.

A “family of cycles” – major and auxiliary business cycles

2014 ◽  
Vol 32 (3) ◽  
pp. 306-323 ◽  
Author(s):  
Arvydas Jadevicius ◽  
Simon Huston
Keyword(s):  
Systematic Review ◽  
Business Cycles ◽  
Design Methodology ◽  
Market Dynamics ◽  
Property Market ◽  
Proper Understanding ◽  
Content Type ◽  
Market Participants ◽  
Practical Implications

Purpose – The paper aims to discuss the major and auxiliary types of cycles found in the literature. Design/methodology/approach – The existence of cycles within economy and its sub-sectors has been studied for a number of years. In the wake of the recent cyclical downturn, interest in cycles has increased. To mitigate future risks, scholars and investors seek new insights for a better understanding of the cyclical phenomenon. The paper presents systematic review of the existing copious cyclical literature. It then discusses general characteristics and the key forces that produce these cycles. Findings – The study finds four major and eight auxiliary cycles. It suggests that each cycle has its own distinct empirical periodicity and theoretical underpinnings. The longer the cycles are the greater controversy which surrounds them. Practical implications – Cycles are monumental to a proper understanding of complex property market dynamics. Their existence implies that economies, whilst not deterministic, have a rhythm. Cyclical awareness can therefore advance property market participants. Originality/value – The paper uncovers four major and eight auxiliary types of cycles and argues their importance.

Toward developing a sustainable regeneration framework for urban industrial heritage

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Parsa Arbab ◽  
Gelareh Alborzi
Keyword(s):  
Decision Problem ◽  
Design Methodology ◽  
Decision Making Process ◽  
Conceptual Approach ◽  
Content Type ◽  
Industrial Heritage ◽  
Literature Research ◽  
Decision Context ◽  
Cultural Spaces ◽  
The City

PurposeRegeneration of industrial heritage aims to display the patrimony assets by launching measures to convert them into cultural spaces associated with sustainable initiatives for satisfying environmental, social and economic demands in the city. The adaptive transformation and reusing process of industrial heritage constitutes a crucial cultural objective and consequently must be identified in a way that simultaneously integrates preservation with conversion and conservation with refurbishment. Hence, this paper explores to develop a framework for the sustainable regeneration of industrial heritage in cities.Design/methodology/approachBy reviewing the current literature, research and experiences on urban industrial heritage, including existing approaches, frameworks, and case studies, this study brings a theoretical and conceptual approach to sustainable regeneration of industrial heritage, which is a fundamental start point for conducting further research and performing practical projects.FindingsThree key phases of the Initiation as decision context, including understand the characteristics and assess the significance, the Planning as decision problem, including study the feasibility, develop a policy, and prepare a proposed reuse plan, and the Execution as decision output, including implement the plan, monitor the results and review the plan should be considered regarding the sustainable regeneration of urban industrial heritage.Originality/valueThe suggested framework considers sustainable regeneration of industrial heritage in cities as a decision-making process, which requires defining the decision context, analyzing the decision problem, and finally, results in the decision output. Accordingly, it seems to help bridge the gap between various discourses and planning perspectives and make all stakeholders' involvement easier, more effective and efficient regarding the sustainable regeneration of industrial heritage in cities.

A new criminal jurisdiction to combat cross-border money laundering

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Hanafi Amrani ◽  
Mahrus Ali
Keyword(s):  
Money Laundering ◽  
Design Methodology ◽  
Conceptual Approach ◽  
Content Type ◽  
Criminal Jurisdiction ◽  
Territorial State ◽  
Cross Border ◽  
Territorial Jurisdiction ◽  
Extraterritorial Jurisdiction

Purpose The purpose of this study is to analyze the emergence of the changing face of criminal jurisdiction in dealing with cross-border money laundering that develops dynamically due to the development of globalization. Design/methodology/approach This research was a doctrinal legal research using conceptual approach concerning the very strict principle of territorial jurisdiction in criminal law. This study also used case approach related to the application of extraterritorial jurisdiction and long-arm jurisdiction in some cross-border money laundering cases. The collection of legal materials was carried out through literature as well as case study and was analyzed qualitatively based on data reduction, presentation and concluding. Findings This study revealed that territorial jurisdiction which was originally strictly enforced by state sovereignty over crimes that occurred in its territory then changed widely with multi-territorial perspective. Because of its condition, the state then expands its authority to deal with money laundering as a cross-border crime involving more than one territorial state, namely, by using extraterritorial jurisdiction and then developed into a long-arm jurisdiction trend that allows state authorities to prosecute foreigners outside its state boundaries. Originality/value The research finding can be used as one of the alternatives by countries to break the territorial jurisdiction in combating the cross-border money laundering.

Drivers and inhibitors of the compromise effect – a conceptual overview

2020 ◽  
Vol 37 (4) ◽  
pp. 375-384
Author(s):  
Victor Andrej Schliwa ◽  
Raluca Ciornea
Keyword(s):  
Conceptual Model ◽  
Design Methodology ◽  
Interaction Effects ◽  
Compromise Effect ◽  
Extensive Review ◽  
Conceptual Approach ◽  
Content Type ◽  
Conceptual Paper ◽  
Conceptual Overview ◽  
Relevant Interaction

Purpose This paper aims to review numerous known drivers and antecedents of compromise behavior, proposing a basic categorization of the various contributions. This is done with the goal to integrate drivers and antecedents, previously largely discussed in isolation of one another, into a single conceptual model. This sheds light on the issue of previously overstated or understated relevance of individual drivers. The picture is completed by the proposition of new potential drivers of the compromise effect like lay rationalism and approval motivation. Design/methodology/approach The paper takes a conceptual approach in reflecting on prior findings from the field of compromise effect research and adjacent fields to develop a number of propositions aggregated in a conceptual model. Findings A number of previously overlooked, but potentially highly relevant interaction effects among known drivers of the compromise effect are proposed along with the proposition of several new drivers. Originality/value This conceptual paper offers a novel, broadly applicable categorization of compromise effect research. Further, it seems to be the first paper dedicated to an extensive review of established drivers of the compromise effect to examine the interdependence and possible interaction effects and of those drivers. Additionally, completely new potentially relevant drivers are discussed in detail and integrated into a conceptual model.

Business cycles: looking beyond the downside for competitive advantages

2014 ◽  
Vol 35 (1) ◽  
pp. 9-19 ◽  
Author(s):  
Peter Lorange ◽  
Edwin Datson
Keyword(s):  
Business Cycles ◽  
Design Methodology ◽  
Field Studies ◽  
Risk Exposure ◽  
Competitive Advantages ◽  
Content Type

Purpose – How can one better manage risk in situations with a lot of business cycles exposure? This article offers practical approaches to this. Design/methodology/approach – The article is derived from field studies that lead to the authors' prescriptives. Findings – The paper presents several concrete ways to better cope with risk exposure, for example optionality, in/out, long/short. Originality/value – This piece is original. The authors have not seen similar documentations/articles elsewhere.

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