Entry-level job pursuit intention: assessing person-environment fit in India

PurposePerson-environment (PE) fit theory suggests that value congruence (fit) leads to the job pursuits intention (Cable and Judge, 1996) which is also influenced by cultural norms (Ma and Allen, 2009). Due to stringent job market condition along with its people, as a part of collectivistic culture, having poor self-concept consistency, value congruence may unfold different phenomenon in Indian context. Therefore, the present study intends to explore the existing fit theory on different cultural norms and different job market condition with entry-level job pursuits as participants.Design/methodology/approachThe fit was measured both objectively and subjectively in a mixed method research design. Top 100 institutes ranked in NIRF (National Institutional Ranking Framework) (under Management category) were approached for data collection and 41 institutes agreed to participate. Data were collected in four phases from 2,714 entry-level job pursuits and domain experts based on web-based job advertisements. Krippendorff's alpha was calculated for measuring objective fit, and the subjective fit was measured through quadratic structural equation modeling with response surface analysis.FindingsFindings revealed lack of value congruence objectively; and no influencing role of subjective fit in job pursuits intention. This indicated that neither Indian employers nor entry-level job pursuits were concerned about value congruence. The post-hoc analysis suggested that poor self-concept consistency as a cultural norm led to such atypical findings.Originality/valueThe present study suggests that fit may lead to different phenomena of entry-level job pursuits intention with different contextual and cultural norms.

A COMPARISON OF UNDERWRITER REPUTATION MEASUREMENT METHODS IN EXPLAINING IPO STOCK PERFORMANCE

This study objective compares the underwriter reputation, measured by a different method, in explaining Initial Public Offering (IPO) performance. The reputation is measured based on underwriter IPO frequency and deal value. The underwriter's reputation is then ranked and categorized into quartiles. We use cross-section regression methods to test the effect of different underwriter reputation measurement methods on IPO performance. The dependent variable is short-term and long-term IPO performance. The independent variable is four underwriter reputation categories represented by three-level dummy variables. We found that only underwriter reputation measured by IPO frequency can explain IPO performance. The findings suggest IPO frequency help underwriter understand the market condition and value IPO more accurately. Firms that want to reduce the cost of IPO underpricing should choose underwriters with a higher IPO frequency.

Impact of Commercial Decision Making in the Cost at the Pre-Tendering Stage

The Indian construction industry has the cognitive frame of operating in the cost-based approach rather than the value-based approach, and the project process and strategies are framed in such a manner to increase the profitability of the project by the organization. Nevertheless, the profitability margin of the construction project is very comparatively low compared to the other Industrial sectors. There is much reason for not attaining a higher profitability margin in the construction sector. Some of the reasons are the low innovative business plan, ineffective data-driven decision-making, ineffective management of the transaction, and construction risks.The responsibilities of increasing profitability and managing the transactional flow in the project are given to the commercial manager. The roles and responsibilities of the commercial manager vary globally. The quantity surveyor's job role further enhanced the commercial manager, where the latter can take the commercial decisions about the project.This research paper's primary outcome is the framework model for making effective decisions by the commercial manager, which increases the project's profitability. The systematic decisions, which are made in the projects by the commercial manager are studied. Considering the external factors like the COVID-19 outbreak, market condition, and existing factors affecting the decision-making process, the tools and techniques for making efficient decisions in the construction project are suggested. The synergies between these tools and techniques are studied, and a decision-making model is framed to reduce the cost and time overrun, and the benefits associated with implementing the model in the project are detailed.

A FRAMEWORK TO ENHANCE THE PRACTICE OF MAINTENANCE BUDGETING IN COMMERCIAL BUILDINGS IN SRI LANKA

Inadequate budget control is one of the major challenges that adversely affect the maintenance of a building. The cost of plant asset maintenance of the commercial building is a larger proportion of the overall cost of operation. It is important to allocate financial resources appropriately so that, before serious damage occurs, maintenance measures can be taken. Accordingly, a well-defined maintenance budget (MB) makes it possible to recognise opportunities for creating continuous business performance improvements within the financial constraints of a company. Although required building maintenance can be carried out successfully with an adequate budget, the budget is not well defined in current industrial practice and Sri Lanka is most likely dealing with the same problem. Thus, this study aimed to develop a framework to enhance the practice of a well-defined MB for commercial buildings in Sri Lanka. The qualitative approach was adopted to address this study. A comprehensive literature review was done and five case studies were performed using ten semi-structured interviews to collect the primary data. The interviewees were selected based on their knowledge in the field of maintenance cost planning. Data were analysed through content analysis using both manual and NVivo 12 software. The research finding revealed that prime barriers of prepare an accurate MB are poor planning of maintenance work and resources, faulty maintenance, changes in country market condition, and poor financial support. The key strategies to overcome the barriers are to select the right budget method, arise awareness of top management about building maintenance and avoid faulty maintenance.

Sustainability strategies and performance of public universities in Kenya

The current operational setup in Kenya’s Universities is a turbulent one and highly competitive market condition. To ensure survival and sustainability, public universities require to adopt and implement competitive strategies. Many scholars have investigated sustainability efforts by Universities in pursuit of performance, however, it is still not clear how sustainable strategies have the greatest influence on the performance of Public Universities. Thus, the study set to establish the influence of sustainability strategies on the performance of Public Universities in Kenya. The study was anchored on resource-based theory. To achieve the objectives, the study was anchored on a pragmatic philosophy and mixed research design with a target population of 234 University top managers. Primary data was collected using a 5 point Likert-type questionnaire and an interview guide. Data were analyzed using descriptive and inferential statistics. Findings revealed that sustainability strategies had a significantly statistical influence on the performance of public universities in Kenya. The regression analysis for composite results revealed that sustainability strategies (SS) alone account for 53% of the variation of performance of Public Universities (R2=0.53, (t=7.68, p<0.05). Regression analysis for individual results, cost reduction (CR) (R2 0.518, t=18.07 p, <0.05), collaboration (C) (R2=0.418, t=2.7 p, <0.05) and diversification (D) (R2=0.218, t=8.07 p, <0.05). This study concluded that implementation of sustainability strategies (cost reduction, diversification, and collaboration) are essential strategies Public Universities can use in their endeavor to improve their performance.

Analysis of the insurance market in the Russian Federation and trends in its transformation

Objective: To characterize the evolution of the insurance market in the Russian Federation and analyze its current state. To determine the evolution features and trends of the insurance market in Russia and provide its advanced model. To identify opportunities and threats, as well as the cur-rent problems of the evolution of the Russian insurance market. Methods: Comparison of the char-acteristics of the state and evolution of insurance markets around the world. Analysis of statistical data from official sources of the Bank of Russia and changes in the insurance market measures. As-sessment of market concentration using traditional methods of industry markets analysis. Results: It has been established that in economically developed countries the insurance market is character-ized by monopolistic competition. The specific forms of competition in the insurance market have been classified. The evolution features and trends of the Russian insurance market have been re-vealed. In view of the existing evolution trends, an advanced model of the Russian insurance mar-ket has been determined, and the opportunities and threats for the future market condition have been characte¬rized. Practical importance: The study findings may be of interest to state structures regulating the insurance market of the Russian Federation, since the increased attention of regula-tors to the Russian insurance market in connection with the threat of its monopolization requires preventive measures as regards the antimonopoly policy and close monitoring of the insurance market changing state. A more detailed analysis of individual territorial and product segments of the Russian insu¬rance market well have to be conducted.

Time-Varying Integration of Ukrainian Sunflower Oil Market with the EU Market

Ukraine (UA) is one of the world-leading countries in sunflower oil production and sunflower oil exports. Due to the increasing demand caused by biofuel regulations, the European Union (EU) remains the key importer of Ukrainian sunflower oil. Therefore, the aim of the proposed research is to provide an evaluation of the time-varying integration of the UA sunflower oil market with the EU market. To fulfill this goal, first, the trends in sunflower oil production and exports in Ukraine as well as trade regulations are presented. The market integration was assessed using the ARDL-ECM approach that was applied to weekly sunflower oil prices in the period from 2000 to 2020. The analytical study was supplemented with the Toda-Yamamoto (T-Y) Granger causality test, the Bai-Perron multiple structural breakpoint test (B-P) as well as impulse response functions (IRF). This study and the obtained results for the whole sample confirm the presence of a long-run relationship between EU and UA prices. The EU prices are the Granger cause for UA prices, as it is shown in the T-Y test. The Bai-Perron test indicates the existence of multiple structural breaks that can be justified by the market condition and policy modifications. Both the long- and the short-run response of UA prices to changes in EU prices vary significantly in different sub-periods.

A resilient pricing and service quality level decision for fresh agri-product supply chain in post-COVID-19 era

PurposeThis paper investigates how the channel leadership strategies develop a post-coronavirus disease (COVID-19) resilient agri-supply chain, which reduces supplier and retailer's price loss and enhances the logistics service quality level considering logistics outsourcing of agri-product especially for the rapidly changing market condition.Design/methodology/approachBased on the classical leadership theory, two channel leadership strategies, i.e. LPL and SL, are considered. The proposed framework first derives the equilibrium price and service quality level decision among the supplier, the logistics provider and the retailer. Then it compares both leadership strategies in terms of the equilibrium prices and service quality theoretically. This article also presents a case study of Arabian dates pricing and supply chain to test the theoretically derived propositions.FindingsSelection of suitable leadership strategy is a critical factor for profit maximization of the supply chain drivers and proper optimization of equilibrium price and service quality. Here, the product's quality and the market's socio-economic condition play an important role in selecting a suitable leadership strategy. A random transformation of the physical market to an e-commerce portal creates a wide variation of the market's socio-economic parameters, affecting the equilibrium pricing and the logistics provider's service quality.Research limitations/implicationsThis study proposes a post-COVID-19 resilient agri-supply chain framework considering price and quality-dependent stochastic market demand, incorporating a wide range of socio-economic factors in the model to counteract the effect of rapid behavior change of agri-market due to COVID-19 norms. This research examines the effect of different channel leadership strategies to facilitate suitable decisions on prices and service quality and retrieve the profit of the supplier, retailer and logistics provider. The future models can incorporate competitiveness in logistics outsourcing, fourth-party logistics (4PL) and contract farming in the agri-supply chain. Each of the extensions can open avenues in different directions.Practical implicationsAs the post-COVID-19 market and the customer behavior is randomly changing, and the traditional market is rapidly converting into supermarkets and e-commerce portals, this paper examines the model with a wide variety of e-commerce portals with multi-variation of product. It is conclusive that the product's quality and the market's socio-economic behavior significantly impact the equilibrium decision. The drivers of the supply chain must take them into account before choosing a particular channel leadership strategy.Originality/valueThis study considers a multi-product and multi-market (e-commerce) model by integrating a wide variety of products and the market's socio-economic parameters. The model is tested in a price and quality-dependent stochastic market condition, contributing to the literature by reconciling two different channel leadership strategies into the global logistics of fresh agri-product.

Market Survey Strategy for Sharp Well Economic: A Case Study of Well Planning in Deepwater Exploration Indonesia

A deep-water well is one of the high profile project which is closely related to a high cost project. One of the key success prior starting the project is by conducting the cost estimation (Owner Estimate). For a typical new operation with limited offset data, market survey is one of the way to have the base cost estimation. Performing a market survey for estimating owner estimate prior to perform tender process and also a need for a basis of well cost is critical step in calculating economic of the well or investment decisions during well planning. Many approaches to perform the market survey and sometimes people customize them in order to fit with the purpose. This paper is trying to exercise some of the market survey methodology options and also to describe the impact to the selection of procurement strategy and maturation of cost estimation. The market survey methodology will be presented in details for each options. Experiences while estimating long lead items (LLI) and drilling services costs for a deep-water exploration drilling well were exercised here. The outcomes were compared and assessed. Nevertheless, literature reviews are also performed to enrich understanding and better judgment when estimating the cost. By performing a comprehensive market survey, we have successfully determined the current market condition and accurate cost estimation, which plays crucial roles in the decision making process for the best procurement strategy. Additionally, with the selective and progressive method in the market survey, it has narrowed down the bias cost data, especially for some of the major drilling services contract. The method on the market survey has established also an advantage in the remuneration strategy which leads to a cost saving in the project and also helps to fit in the project timeline.

The role of precious metals in extreme market conditions: evidence from stock markets

Purpose The purpose of this paper is to scrutinize three different points: How safe haven properties of precious metals (gold, silver, platinum and palladium) differentiate in two recent major crises such as the Global Financial Crisis (GFC) and the COVID-19 pandemic? How safe haven properties of precious metals change by the severity and the duration of shocks? and whether precious metals have hedge properties or not in normal conditions against different stock markets. Design/methodology/approach To analyze the time-varying behavior of precious metals with respect to stock market returns, the authors used the rolling window approach. After obtaining the time-varying beta series that way, the authors regressed the beta series on different severities of stock market shocks. Findings The findings show that the number of safe haven precious metals increases in the COVID-19 pandemic period compared to the GFC. Furthermore, the number of safe haven precious metals increases as the severity of shocks increases and the duration of them extended. Finally, in the absence of an extreme market condition, only gold has strong hedge asset properties. Originality/value To the best of the authors’ knowledge, this study is the first that examines the safe haven and hedge properties of all tradable precious metals against seven major stock markets. Besides this, it presents a comparative analysis for the safe haven properties of precious metals in terms of two major crises.