Repeated selection of supplier, factors and results: the Czech Republic

2019 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Michal Plaček ◽  
Martin Schmidt ◽  
František Ochrana ◽  
Gabriela Vaceková ◽  
Jana Soukopová
Keyword(s):  
Recurrent Selection ◽  
Public Procurement ◽  
Ordinary Least Squares ◽  
Group Method ◽  
Strong Impact ◽  
Least Squares Regression ◽  
Content Type ◽  
The Public ◽  
Logistic Regression Method ◽  
Selection Of

Purpose The paper aims to deal with the analysis of the factor leading to the repeated selection of the specific supplier and the effect of this recurrent selection on overpricing of public contracts. Design/methodology/approach A mix of quantitative and qualitative methods is used to achieve this goal. To analyze the chances of obtaining repeated contracts, the logistic regression method is used. To analyze the factor of overpriced contracts, the classic ordinary least squares regression model is used. The focus group method is then used to explain the factors acting on the part of the contracting authorities. Findings The results show that the prior procurement of a given contracting authority, or work for the public sector in general, has a statistically significant effect on the conclusion of contracts. The use of less-transparent forms of input has a strong impact. The non-transparent selection of suppliers rather than repetition of contracts generally results in the over-pricing of contracts. The IT sector is an exception. Social implications This research is also essential for real public policy. Given the amount of GDP allocated to the public procurement market, it makes sense to continually seek room for improvement. Here is an attempt to find this by examining the contracting authorities’ behavior when awarding repeated contracts. Originality/value This research is original because it looks at the problem of the contracting authority in the wider context and optics of the path dependency theory, which has not yet been applied to the public procurement environment. The focus is also on IT procurement, which according to this study has not been empirically investigated in this way, is also innovative.

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.

Audit committee characteristics and the moderating effect of Malaysian code of corporate governance on IPO liquidity

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Amal Mohammed Al-Masawa ◽  
Rasidah Mohd-Rashid ◽  
Hamdan Amer Al-Jaifi ◽  
Shaker Dahan Al-Duais
Keyword(s):  
Corporate Governance ◽  
Initial Public Offerings ◽  
Audit Committee ◽  
Ordinary Least Squares ◽  
Moderating Effect ◽  
Least Squares Regression ◽  
Content Type ◽  
Code Of Corporate Governance ◽  
The Impact ◽  
The Relationship

Purpose This study aims to investigate the link between audit committee characteristics and the liquidity of initial public offerings (IPOs) in Malaysia, which is an emerging economy in Southeast Asia. Another purpose of this study is to examine the moderating effect of the revised Malaysian code of corporate governance (MCCG) on the link between audit committee characteristics and IPO liquidity. Design/methodology/approach The final sample consists of 304 Malaysian IPOs listed in 2002–2017. This study uses ordinary least squares regression method to analyse the data. To confirm this study’s findings, a hierarchical or four-stage regression analysis is used to compare the t-values of the main and moderate regression models. Findings The findings show that audit committee characteristics (size and director independence) have a positive and significant relationship with IPO liquidity. Also, the revised MCCG positively moderates the relationship between audit committee characteristics and IPO liquidity. Research limitations/implications This study’s findings indicate that companies with higher audit committee independence have a more effective monitoring mechanism that mitigates information asymmetry, thus reducing adverse selection issues during share trading. Practical implications Policymakers could use the results of this study in developing policies for IPO liquidity improvements. Additionally, the findings are useful for traders and investors in their investment decision-making. For companies, the findings highlight the crucial role of the audit committee as part of the control system that monitors corporate governance. Originality/value To the authors’ knowledge, this work is a pioneering study in the context of a developing country, specifically Malaysia that investigates the impact of audit committee characteristics on IPO liquidity. Previously, the link between corporate governance and IPO liquidity had not been investigated in Malaysia. This study also contributes to the IPO literature by providing empirical evidence regarding the moderating effect of the revised MCCG on the relationship between audit committee characteristics and IPO liquidity.

scholarly journals Early contractor involvement approaches in public project procurement

2018 ◽  
Vol 18 (4) ◽  
pp. 355-378 ◽  
Author(s):  
Paulos Abebe Wondimu ◽  
Ali Hosseini ◽  
Jadar Lohne ◽  
Ola Laedre
Keyword(s):  
Success Factors ◽  
Public Procurement ◽  
Business Practices ◽  
Public Project ◽  
Content Type ◽  
The Public ◽  
Treat All ◽  
First Time ◽  
Project Procurement ◽  
Depth Interviews

Purpose Early contractor involvement (ECI) faces many barriers when it is implemented in public procurement, given that it is different from traditional business practices. Primarily, public owners face a major challenge, as they should treat all bidders equally. The purpose of this paper is to explore suitable ECI approaches that public owners could use. Design/methodology/approach In addition to a literature and document study, 14 semi-structured in-depth interviews with key personnel from 11 cases selected from Norwegian public bridge projects were carried out. Findings In all, 23 unique approaches of ECI were identified during this research (16 from literature and 7 new from case projects). The findings provide a new direction to ECI through introducing new approaches of ECI from the case projects. Originality/value This paper for the first time presents several alternatives of ECI approaches for public owners with the intention of illustrating ECI is actually possible in the public project procurement. Furthermore, it presents for the first time success factors of ECI with the intention of increasing the understanding of ECI concept from a public procurement perspective.

scholarly journals Public Policies for Procurement under COVID19

2021 ◽  
Vol 1 (3) ◽  
pp. 9-36
Author(s):  
Luís Valadares Tavares ◽  
Pedro Arruda
Keyword(s):  
Comparative Analysis ◽  
Comparative Study ◽  
Public Procurement ◽  
Public Policies ◽  
European Directives ◽  
Public Markets ◽  
The Public ◽  
Public Contracting ◽  
The Comparative Study ◽  
Selection Of

Public procurement is a main issue in the frontline of Governments fighting COVID 19 pandemic as the need for additional and urgent acquisitions as well as the need to consolidate the supply chains and to promote sustainable and innovative procurement have been a source of deep changes and main challenges disturbing public markets and invalidating several assumptions of the traditional public contracting. In this paper, the development of appropriate public policies to cope with these challenges is studied following the approach suggested by several authors and including four stages: a Stage on Facts and Issues where the main challenges and conditions are studied, the Options Stage to describe which polices and procedures can be adopted, a Values Stage stating the main values to be pursued and, finally, a Policies Stage including the selection of the recommended policies. The analysis of the challenges and facts includes the study of a taxonomy of short and longer term needs and the available options are based on the comparative study of procedures ruled by the European Directives on Public Procurement approved on 2014. The major values to be respected include the principle of competition which is a major institutional principle of the European Treaty and of the Directives as well as the goal of promoting sustainable and innovative public procurement. Several indicators are suggested to describe the application of the public procurement policies adopted across EU and their comparative analysis is presented using the TED data for contracts concerning COVID 19. The case of Portugal is discussed and final remarks about the recommended public policies are also included herein.

The determinants of internet risk disclosure: empirical study of Egyptian listed companies

2017 ◽  
Vol 32 (8) ◽  
pp. 746-767 ◽  
Author(s):  
Ali Khalil ◽  
Mona Maghraby
Keyword(s):  
Listed Companies ◽  
Ordinary Least Squares ◽  
Risk Information ◽  
The Internet ◽  
Least Squares Regression ◽  
Risk Disclosure ◽  
Content Type ◽  
Reporting Practices ◽  
Board Characteristics ◽  
The Impact

Purpose The purpose of this paper is to contribute to the existing disclosure literature by examining the determinants of corporate risk disclosure (CRD) in the internet reporting for a sample of Egyptian listed companies on the Egyptian Stock Exchange (EGX). Design/methodology/approach This study depends on a sample of 76 Egyptian companies included in the EGX 100 in the period 2012-2014. The study applies a content analysis and uses a sentence-based method to measure CRD in the internet reporting. Ordinary least-squares regression analysis is used to examine the impact of firm and board characteristics on CRD in the internet reporting. Findings The empirical analysis shows that large Egyptian companies tend to disclose more risk information in their internet reporting. Moreover, the results indicate that there is a significant positive association between sector type and CRD in the internet reporting. The results show non-significant association between CRD and other firm characteristics (cross listing and level of risk). Finally, there are no significant associations between CRD and board characteristics variables (board size, board composition and CEO duality). Research limitations/implications The study’s findings have practical implications. It aids in informing policy makers considering implementing new economic reform programs about the properties of Egyptian companies that disclose risk information in their internet reporting. It provides insights on CRD in Egyptian companies for standards setters and professional authorities to improve risk reporting practices to help stakeholders in making good decisions. Originality/value This study is one of the first studies to examine the determinants of CRD in the internet reporting for a sample of Egyptian companies.

The role of customer experience touchpoints in driving loyalty intentions in services

2018 ◽  
Vol 30 (5) ◽  
pp. 444-457 ◽  
Author(s):  
Marco Ieva ◽  
Cristina Ziliani
Keyword(s):  
Customer Loyalty ◽  
Service Sector ◽  
Service Providers ◽  
Management Strategies ◽  
Customer Experience ◽  
Ordinary Least Squares ◽  
Mobile Service ◽  
Least Squares Regression ◽  
Content Type ◽  
Loyalty Intentions

Purpose The explosion in the number of touchpoints is putting pressure on companies to design omnichannel customer experiences aimed at achieving long-term customer loyalty. The purpose of this paper is to examine the relative importance of 24 touchpoints in contributing to customer loyalty intentions. Design/methodology/approach Data were collected by means of a survey on almost 6,000 subjects belonging to the Nielsen consumer panel. Two ordinary least squares regression models with clustered standard errors estimate the relationship between touchpoint exposure – measured in terms of reach, frequency and positivity – and customer loyalty intentions in the mobile service sector. Findings Reach has a significant relationship with customer loyalty intentions as far as eight touchpoints are concerned. Positivity, when controlling for frequency of exposure, is related to customer loyalty intentions as far as nine touchpoints are concerned. Practical implications Results provide guidance for mobile service providers on customer experience management strategies and specifically on touchpoint prioritization, adaptation, monitoring and design. Originality/value This study addresses two relevant research gaps. First, most studies focus on single or a few touchpoints without considering the variety of touchpoints within the customer journey (Lemon and Verhoef, 2016). Second, no studies focus on the relative contribution of touchpoints to customer loyalty intentions (Homburg et al., 2017).

Evaluating the effect of macroeconomic variables on the welfare changes in Iran

2017 ◽  
Vol 44 (5) ◽  
pp. 594-604
Author(s):  
Mohammad Nabi Shahiki Tash ◽  
Saber Molaei ◽  
Kamran Barghandan
Keyword(s):  
Social Welfare ◽  
Fuzzy Regression ◽  
Least Squares Regression ◽  
Content Type ◽  
The Public ◽  
Welfare Level ◽  
The Social ◽  
The Difference ◽  
Welfare Index ◽  
Welfare Changes

Purpose The purpose of this paper is to examine the level of cardinal welfare based on Sen’s index using both Pareto and non-Pareto states besides evaluating the effective factors on the welfare changes according to a fuzzy least-squares regression model. Design/methodology/approach The social welfare functions express the optimal social allocations in the public economics. Therefore, they can be applied as a tool to represent the difference of utility allocations among consumers. There are various criteria on the literature pertaining to the social welfare functions such as those of Dasgupta et al. (1970), Sheshinski (1972), Sen (1974), Yitzhaki (1979), Shorrocks (1983), Kakwani (1984), Dagum (1990, 1993), Mukhopadhaya (2003), and Mukhopadhaya and Rao (2001). The Sen’s welfare function because of strong theoretical basis and enjoying the welfare axioms is more celebrated among others so that it is a function of individual utilities resulting from the individual’s social positions. Findings The findings indicate that the welfare level has increased by about 4.8 percent during the period 2002-2007; by nearly 3.1 percent during 1997-2001 and mature to 2.7 percent from 1992 to 1996 such that the period 1997-2007 has had the highest level of social welfare improvement in Iran. The results obtained from the fuzzy regression show that the unemployment rate, inflation rate and Gini coefficient variables have an adverse relation with the cardinal welfare in both Pareto and non-Pareto cases, while the literacy rate and government expenditures have a positive relation with the welfare index. The findings also imply that there is a positive relationship between economic growth and welfare level in Iran. Originality/value I verify that this manuscript is an original study.

Sign in / Sign up

Export Citation Format

Share Document