scholarly journals Exploring Agency Theory Implications With Franchising

2011 ◽  
Vol 4 (4) ◽  
Author(s):  
Dean R. Manna ◽  
Alan D. Smith ◽  
David P. Synowka
Keyword(s):  
Agency Theory ◽  
Risk Sharing ◽  
Market Demand ◽  
Strategic Decisions ◽  
Operational Effectiveness ◽  
Theoretical Perspectives ◽  
Trade Offs ◽  
Dual Distribution ◽  
Shopping Experience ◽  
The Impact

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt;"><span style="mso-bidi-font-style: italic;"><span style="font-size: x-small;"><span style="font-family: Times New Roman;">The franchiser-franchisee relationship (FFR) can be examined from two theoretical perspectives, Agency Theory and Exchange Theory.<span style="mso-spacerun: yes;">&nbsp; </span>Strategic management of demands that the leadership makes decisions on what the company should do and what the company should not do.<span style="mso-spacerun: yes;">&nbsp; </span>This type of decision-making is called making trade-offs and has much to do with Agency Theory&rsquo;s applications to FFR.<span style="mso-spacerun: yes;">&nbsp; </span>One reason that operational effectiveness is the preferred way is that it has inherently little risks during the short term.<span style="mso-spacerun: yes;">&nbsp; </span>Managers would be willing to make decisions if the risks were not so high on the long term.<span style="mso-spacerun: yes;">&nbsp; </span>From the Agency Theory viewpoint, dual distribution can be analyzed in a cost versus cost trade-off schema.<span style="mso-spacerun: yes;">&nbsp; </span>The approach argues that both franchising and company ownership have costs associated with them.<span style="mso-spacerun: yes;">&nbsp; </span>Dual distribution is considered an internal solution to the cost tradeoff.<span style="mso-spacerun: yes;">&nbsp; </span>Some of the costs in question are inefficiency of client risk sharing, franchisees that are free riding and the legal costs of terminating a franchise.<span style="mso-spacerun: yes;">&nbsp; </span>Under dual distribution the mix of company ownership and franchising minimizes the sum of these total costs.<span style="mso-spacerun: yes;">&nbsp; </span>When looking at market demand and the impact strategic decisions may influence it several factors come into play, including point of sale service.<span style="mso-spacerun: yes;">&nbsp; </span>The components include the impact of outlet level services provided to the consumer enhancing value via the shopping experience, the franchiser&rsquo;s level of effort to streamline the supply chain to all retail outlets, which enhances the image and reputation of the brand with the customer.<span style="mso-spacerun: yes;">&nbsp; </span>Aspects of Agency Theory can be extended to include credible communication of franchise brand equity.<span style="mso-spacerun: yes;">&nbsp; </span></span></span></span></p>

scholarly journals Optimising pasture and grazing management decisions on the Cicerone Project farmlets over variable time horizons

2013 ◽  
Vol 53 (8) ◽  
pp. 796 ◽  
Author(s):  
Karl Behrendt ◽  
Oscar Cacho ◽  
James M. Scott ◽  
Randall Jones
Keyword(s):  
Simulation Model ◽  
Strategic Decision ◽  
Stochastic Dynamic ◽  
Economic Returns ◽  
Strategic Decisions ◽  
Trade Offs ◽  
Using Data ◽  
Time Frames ◽  
The Impact ◽  
Stocking Rates

This study addresses the problem of balancing the trade-offs between the need for animal production, profit, and the goal of achieving persistence of desirable species within grazing systems. The bioeconomic framework applied in this study takes into account the impact of climate risk and the management of pastures and grazing rules on the botanical composition of the pasture resource, a factor that impacts on livestock production and economic returns over time. The framework establishes the links between inputs, the state of the pasture resource and outputs, to identify optimal pasture development strategies. The analysis is based on the application of a dynamic pasture resource development simulation model within a seasonal stochastic dynamic programming framework. This enables the derivation of optimum decisions within complex grazing enterprises, over both short-term tactical (such as grazing rest) and long-term strategic (such as pasture renovation) time frames and under climatic uncertainty. The simulation model is parameterised using data and systems from the Cicerone Project farmlet experiment. Results indicate that the strategic decision of pasture renovation should only be considered when pastures are in a severely degraded state, whereas the tactical use of grazing rest or low stocking rates should be considered as the most profitable means of maintaining adequate proportions of desirable species within a pasture sward. The optimal stocking rates identified reflected a pattern which may best be described as a seasonal saving and consumption cycle. The optimal tactical and strategic decisions at different pasture states, based on biomass and species composition, varies both between seasons and in response to the imposed soil fertility regime. Implications of these findings at the whole-farm level are discussed in the context of the Cicerone Project farmlets.

Cost Modeling of Flexible Assembly Systems

2009 ◽  
Author(s):  
Yingxia Yang ◽  
Randolph Kirchain ◽  
Richard Roth ◽  
Jorge Arinez ◽  
Stephan Biller ◽  
...  
Keyword(s):  
Market Competition ◽  
Systems Design ◽  
Assembly Systems ◽  
Analysis Tool ◽  
Market Demand ◽  
Manufacturing Strategy ◽  
Strategic Decisions ◽  
Flexible Assembly Systems ◽  
Flexible Assembly ◽  
The Impact

Flexible assembly systems have emerged as a key manufacturing strategy in many industries, such as automotive, electronic components and computers, to respond to stronger market competition and greater product proliferation. As more companies install flexible assembly systems, design and planning decisions for such flexible systems have to be considered together with other factors besides market demand and competitive forces. This paper presents a cost analysis tool that estimates the cost of flexible assembly lines. Specifically, it provides the capability to study the production of a given set of products while evaluating the impact of different flexibility strategies on total assembly cost. A mathematical description of the model is given, followed by a case study demonstrating its application to strategic decisions during the early planning stages of assembly system design.

The effects of board attributes on Sukuk rating

2018 ◽  
Vol 11 (2) ◽  
pp. 312-330 ◽  
Author(s):  
Mohamed Abulgasem Elhaj ◽  
Nurul Aini Muhamed ◽  
Nathasa Mazna Ramli
Keyword(s):  
Agency Theory ◽  
Stakeholder Theory ◽  
Stock Exchange ◽  
The Body ◽  
Board Independence ◽  
Strategic Decisions ◽  
Board Size ◽  
Content Type ◽  
Logit Regression Model ◽  
The Impact

Purpose The purpose of this paper is to investigate the effect of board attributes on Sukuk rating in firms listed in Bursa Malaysia (Malaysian Stock Exchange) during the period of 2008 to 2013. Design/methodology/approach This study uses ordinal logit regression model to examine the influence of board attributes (CEO-chairman duality, board size and board independence) on the dependent variable (RATING). Findings The findings of this paper generally support the agency theory and stakeholder theory. Results show that after controlling for firm characteristics, the Sukuk rating is positively associated with CEO-chairman duality, board size and board independence; and negatively correlated with leverage while positively related to profitability and size. The findings of this study also provide evidence that having two positions in an organization as CEO and chairman could have added higher responsibility towards making corporate decisions and provide better Sukuk rating performance. In addition, findings show that the larger the board size, the better Sukuk rating. Also, higher board independence enjoys higher rating. Research limitations/implications This study was limited to the investigation of the relationship between board attributes (CEO duality, board size and board independence) on Sukuk ratings using aggregate data from 2008 to 2013 among Malaysian Sukuk issuers. Practical implications The findings of this paper describe the impact of board attributes on Sukuk rating in Malaysian Sukuk market which in turn gives the useful insights to many of the actors in the markets such as issuers, investors and policymakers which can be relied upon in making strategic decisions to issue and invest in Islamic bonds in Malaysian market. In addition, the findings could prove to be useful also for regulators because they are responsible for the acceptable level of corporate governance standards. Originality/value This study contributes to the body of knowledge by focusing heavily on enhancing Sukuk ratings by reducing conflict between managers and Sukuk holders in Malaysia. Additionally, this study benefits from the agency theory and stakeholder theory to provide evidence on the effect of board attributes on Sukuk rating.

Impact of Chatbot in Transforming the Face of Retailing- An Empirical Model of Antecedents and Outcomes

2019 ◽  
Vol 12 ◽  
Author(s):  
Kumari Anshu ◽  
Loveleen Gaur ◽  
Arun Solanki
Keyword(s):  
Research Work ◽  
Shopping Behavior ◽  
Model Framework ◽  
Shopping Experience ◽  
The Face ◽  
Strongly Agree ◽  
Different Characteristics ◽  
Work Done ◽  
The Impact ◽  
Self Administered Questionnaire

Chatbot has emerged as a significant resolution to the swiftly growing customer caredemands in recent times. Chatbot has emerged as one of the biggest technological disruption. Simply speaking, it is a software agent facilitating interaction between computers and humans in natural language. So basically, it is a simulated, intellectual dialogue agent functional in a range of consumer engagement circumstances. It is the easiest and simplest means enable interaction between the retailers and the customers. </p><p> • Purpose- Most of the research work done in this field is concerned with their technical aspects. The recent research on chatbot pay little attention to the impact it is creating on users’ experience. Through this work, author is making an effort to know the customer-oriented impact that the chatbot bear on the shoppers. The purpose of this study is to develop and empirically test a framework that identify the customer oriented attributes of chatbot and impact of these attributes on customers. </p><p> • Objectives- The study intends to bridge the gap between concepts and actual attributes and applications on the subject of Chatbot. The following research objectives can address the various aspects of Chatbot affecting the different characteristics of consumers shopping behaviors: a) Identify the various attributes of chatbot that bears an impression on consumer shopping behavior. b) Evaluate the impact of chatbot on consumer shopping behavior that leads to the development of chatbot usage and adoption among the customer. </p><p> • Design/Methodology/Approach – For the purpose of analysis, author has administered Factor analysis and Multiple regression using SPSS version 23 for identification of various attributes of Chatbot and knowing their impact on shoppers. A self-administered questionnaire from the review of literature is developed. Industry experts in the field of retailing and academician evaluate the questionnaire. Primary information from the respondents is gathered using this questionnaire. The questionnaire comprises of Likert scale on a scale of 1 to 5 where 1 stands for strongly disagree and 5 stands for strongly agree. Data is collected from 126 respondents, out of which 111 respondents were finally considered for study and analysis purpose. </p><p> • Findings – The empirical results show that the study identifies various attributes of chatbot like Trust, Usefulness, Satisfaction, Readiness to Use and Accessibility. It is also found that chatbot is really influencing the customers in providing them with shopping experience, which can be very helpful to the businesses for increasing the sales and creating repurchase intention among the customers. </p><p> • Originality/value – The recent research on chatbot pay little attention to the impact it is creating on customers who are actually interacting with it on regular basis. The research paper extends information for understanding and appreciating the customer oriented attributes of artificially intelligent Chatbot. In this regard, the author has developed a model framework and proposed the attributes identified. Through the work, author is also making an effort to test empirically the impact of the identified attributes on the shoppers.

The Impact of Demographic Factor on Consumer Buying Behaviour: A Study of Retail Sector in Delhi NCR

2015 ◽  
Vol 3 (1) ◽  
Author(s):  
Shamsher Singh ◽  
Ameet Sao
Keyword(s):  
Sampling Method ◽  
Primary Data ◽  
Survey Method ◽  
Retail Sector ◽  
Demographic Shift ◽  
Customer Perception ◽  
Shopping Experience ◽  
Buying Behaviour ◽  
The Impact ◽  
Structured Questionnaire

The retail sector is growing a faster pace in India due to demographic shift in population and growing middle class. It is an opportunity for both organized and unorganized sectors. The purpose of this article is to study the customer perception and shopping experience about organized and unorganized retailing with special reference to Delhi and NCR and find out whether the preferences for organized and unorganized retailing are dependent or independent demographic characteristics of consumers. The study has used the primary data collected from 200 respondents through survey method using structured questionnaire. Convenient sampling method was used during the

scholarly journals Carbon Dynamics in the Northeastern Qinghai–Tibetan Plateau from 1990 to 2030 Using Landsat Land Use/Cover Change Data

2020 ◽  
Vol 12 (3) ◽  
pp. 528 ◽  
Author(s):  
Jingye Li ◽  
Jian Gong ◽  
Jean-Michel Guldmann ◽  
Shicheng Li ◽  
Jie Zhu
Keyword(s):  
Land Use ◽  
Tibetan Plateau ◽  
Carbon Storage ◽  
Sharp Decrease ◽  
Total Carbon ◽  
Qinghai Lake ◽  
Lake Basin ◽  
Ecosystem Carbon ◽  
Trade Offs ◽  
The Impact

Land use/cover change (LUCC) has an important impact on the terrestrial carbon cycle. The spatial distribution of regional carbon reserves can provide the scientific basis for the management of ecosystem carbon storage and the formulation of ecological and environmental policies. This paper proposes a method combining the CA-based FLUS model and the Integrated Valuation of Ecosystem Services and Trade-offs (InVEST) model to assess the temporal and spatial changes in ecosystem carbon storage due to land-use changes over 1990–2015 in the Qinghai Lake Basin (QLB). Furthermore, future ecosystem carbon storage is simulated and evaluated over 2020–2030 under three scenarios of natural growth (NG), cropland protection (CP), and ecological protection (EP). The long-term spatial variations in carbon storage in the QLB are discussed. The results show that: (1) Carbon storage in the QLB decreased at first (1990–2000) and increased later (2000–2010), with total carbon storage increasing by 1.60 Tg C (Teragram: a unit of mass equal to 1012 g). From 2010 to 2015, carbon storage displayed a downward trend, with a sharp decrease in wetlands and croplands as the main cause; (2) Under the NG scenario, carbon reserves decrease by 0.69 Tg C over 2020–2030. These reserves increase significantly by 6.77 Tg C and 7.54 Tg C under the CP and EP scenarios, respectively, thus promoting the benign development of the regional ecological environment. This study improves our understanding on the impact of land-use change on carbon storage for the QLB in the northeastern Qinghai–Tibetan Plateau (QTP).

scholarly journals How Risky Is That Risk Sharing Agreement? Mean-Variance Tradeoffs and Unintended Consequences of Six Common Risk Sharing Agreements

2021 ◽  
Vol 6 (1) ◽  
pp. 238146832199040
Author(s):  
Gregory S. Zaric
Keyword(s):  
Risk Sharing ◽  
Financial Risk ◽  
Unintended Consequences ◽  
Drug Costs ◽  
New Drugs ◽  
Total Drug ◽  
Number Of Patients ◽  
Clinical Benefits ◽  
The Impact ◽  
Mean Variance

Background. Pharmaceutical risk sharing agreements (RSAs) are commonly used to manage uncertainties in costs and/or clinical benefits when new drugs are added to a formulary. However, existing mathematical models of RSAs ignore the impact of RSAs on clinical and financial risk. Methods. We develop a model in which the number of patients, total drug consumption per patient, and incremental health benefits per patient are uncertain at the time of the introduction of a new drug. We use the model to evaluate the impact of six common RSAs on total drug costs and total net monetary benefit (NMB). Results. We show that, relative to not having an RSA in place, each RSA reduces expected total drug costs and increases expected total NMB. Each RSA also improves two measures of risk by reducing the probability that total drug costs exceed any threshold and reducing the probability of obtaining negative NMB. However, the effects on variance in both NMB and total drug costs are mixed. In some cases, relative to not having an RSA in place, implementing an RSA can increase variability in total drug costs or total NMB. We also show that, for some RSAs, when their parameters are adjusted so that they have the same impact on expected total drug cost, they can be rank-ordered in terms of their impact on variance in drug costs. Conclusions. Although all RSAs reduce expected total drug costs and increase expected total NMB, some RSAs may actually have the undesirable effect of increasing risk. Payers and formulary managers should be aware of these mean-variance tradeoffs and the potentially unintended results of RSAs when designing and negotiating RSAs.

scholarly journals Discrete choice experiment for eliciting preference for health services for patients with ALS and their informal caregivers

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Katy Tobin ◽  
Sinead Maguire ◽  
Bernie Corr ◽  
Charles Normand ◽  
Orla Hardiman ◽  
...  
Keyword(s):  
Health Services ◽  
Discrete Choice Experiment ◽  
Discrete Choice ◽  
Choice Experiment ◽  
Strong Preference ◽  
Multidisciplinary Teams ◽  
Relative Importance ◽  
Trade Offs ◽  
Als Patients ◽  
The Impact

Abstract Background Amyotrophic Lateral Sclerosis (ALS) is a progressive neurodegenerative condition with a mean life expectancy of 3 years from first symptom. Understanding the factors that are important to both patients and their caregivers has the potential to enhance service delivery and engagement, and improve efficiency. The Discrete Choice Experiment (DCE) is a stated preferences method which asks service users to make trade-offs for various attributes of health services. This method is used to quantify preferences and shows the relative importance of the attributes in the experiment, to the service user. Methods A DCE with nine choice sets was developed to measure the preferences for health services of ALS patients and their caregivers and the relative importance of various aspects of care, such as timing of care, availability of services, and decision making. The DCE was presented to patients with ALS, and their caregivers, recruited from a national multidisciplinary clinic. A random effects probit model was applied to estimate the impact of each attribute on a participant’s choice. Results Patients demonstrated the strongest preferences about timing of receiving information about ALS. A strong preference was also placed on seeing the hospice care team later rather than early on in the illness. Patients also indicated their willingness to consider the use of communication devices. Grouping by stage of disease, patients who were in earlier stages of disease showed a strong preference for receipt of extensive information about ALS at the time of diagnosis. Caregivers showed a strong preference for engagement with healthcare professionals, an attribute that was not prioritised by patients. Conclusions The DCE method can be useful in uncovering priorities of patients and caregivers with ALS. Patients and caregivers have different priorities relating to health services and the provision of care in ALS, and patient preferences differ based on the stage and duration of their illness. Multidisciplinary teams must calibrate the delivery of care in the context of the differing expectations, needs and priorities of the patient/caregiver dyad.

scholarly journals Modeling Energy Communities with Collective Photovoltaic Self-Consumption: Synergies between a Small City and a Winery in Portugal

Energies ◽  
2021 ◽  
Vol 14 (2) ◽  
pp. 323
Author(s):  
Guilherme Pontes Luz ◽  
Rodrigo Amaro e Silva
Keyword(s):  
Economic Feasibility ◽  
Small City ◽  
Total System ◽  
Trade Offs ◽  
Southern Portugal ◽  
Energy Community ◽  
Individual Self ◽  
The Impact ◽  
The City ◽  
Modest Reduction

The recently approved regulation on Energy Communities in Europe is paving the way for new collective forms of energy consumption and production, mainly based on photovoltaics. However, energy modeling approaches that can adequately evaluate the impact of these new regulations on energy community configurations are still lacking, particularly with regards to the grid tariffs imposed on collective systems. Thus, the present work models three different energy community configurations sustained on collective photovoltaics self-consumption for a small city in southern Portugal. This energy community, which integrates the city consumers and a local winery, was modeled using the Python-based Calliope framework. Using real electricity demand data from power transformers and an actual winery, the techno-economic feasibility of each configuration was assessed. Results show that all collective arrangements can promote a higher penetration of photovoltaic capacity (up to 23%) and a modest reduction in the overall cost of electricity (up to 8%). However, there are clear trade-offs between the different pathways: more centralized configurations have 53% lower installation costs but are more sensitive to grid use costs (which can represent up to 74% of the total system costs). Moreover, key actor’s individual self-consumption rate may decrease by 10% in order to benefit the energy community as a whole.

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