首页 > 最新文献

Journal of Business Valuation and Economic Loss Analysis最新文献

英文 中文
Is Financial Distress Value Relevant? – Implications for Multiple-Based Valuation 财务危机价值相关吗?-多重估值的影响
Q4 Economics, Econometrics and Finance Pub Date : 2020-02-01 DOI: 10.1515/jbvela-2019-0015
Sabrina Goetz
Abstract In relative valuation peer groups of comparable companies are essential to derive the value of the firm. Valuing a target firm that is in financial distress by using a set of healthy peer group firms probably leads to an overvaluation. We examine whether the financial distress risk has an influence on a company’s value and quantify the discount through financial distress. We identify financial distress by Standard and Poor’s long-term issuer ratings and Altman’s z″-score. We then match the identified firms in financial distress with healthy counterparts that are comparable in value relevant characteristics, i. e. profitability, risk, and growth, to estimate the percentage difference in valuation multiples. Using rating information, in every year almost half of the companies are in financial distress whereas by Altman’s z″-score about 20% of the companies in the sample are in financial distress. We find that the discount caused by financial distress makes up about 4–7% of firm value. The discount increases for lower rating classes and lower z″-scores. Besides the degree of financial distress, market downturns as the financial crisis affect the distress discount.
在相对估值中,可比公司的同行群体对于得出公司的价值至关重要。通过使用一组健康的同行公司来评估陷入财务困境的目标公司,可能会导致估值过高。我们检验财务困境风险是否对公司价值有影响,并通过财务困境量化贴现。我们通过标准普尔的长期发行人评级和Altman的z″-评分来识别财务困境。然后,我们将确定的处于财务困境的公司与在价值相关特征上具有可比性的健康同行相匹配,即。盈利能力,风险和增长,以估计估值倍数的百分比差异。根据评级信息,每年几乎有一半的公司处于财务困境,而根据Altman的z″-得分,样本中约有20%的公司处于财务困境。我们发现,由财务困境引起的折扣约占公司价值的4-7%。分数越低,z″-分数越低,折扣越高。除了金融危机的程度,金融危机导致的市场低迷也影响了危机贴现。
{"title":"Is Financial Distress Value Relevant? – Implications for Multiple-Based Valuation","authors":"Sabrina Goetz","doi":"10.1515/jbvela-2019-0015","DOIUrl":"https://doi.org/10.1515/jbvela-2019-0015","url":null,"abstract":"Abstract In relative valuation peer groups of comparable companies are essential to derive the value of the firm. Valuing a target firm that is in financial distress by using a set of healthy peer group firms probably leads to an overvaluation. We examine whether the financial distress risk has an influence on a company’s value and quantify the discount through financial distress. We identify financial distress by Standard and Poor’s long-term issuer ratings and Altman’s z″-score. We then match the identified firms in financial distress with healthy counterparts that are comparable in value relevant characteristics, i. e. profitability, risk, and growth, to estimate the percentage difference in valuation multiples. Using rating information, in every year almost half of the companies are in financial distress whereas by Altman’s z″-score about 20% of the companies in the sample are in financial distress. We find that the discount caused by financial distress makes up about 4–7% of firm value. The discount increases for lower rating classes and lower z″-scores. Besides the degree of financial distress, market downturns as the financial crisis affect the distress discount.","PeriodicalId":39482,"journal":{"name":"Journal of Business Valuation and Economic Loss Analysis","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1515/jbvela-2019-0015","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44239009","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
MESSAGE FROM THE GUEST EDITOR 来自客座编辑的留言
Q4 Economics, Econometrics and Finance Pub Date : 2020-01-01 DOI: 10.1142/s2737566820010027
M. Almunawar
{"title":"MESSAGE FROM THE GUEST EDITOR","authors":"M. Almunawar","doi":"10.1142/s2737566820010027","DOIUrl":"https://doi.org/10.1142/s2737566820010027","url":null,"abstract":"","PeriodicalId":39482,"journal":{"name":"Journal of Business Valuation and Economic Loss Analysis","volume":"361 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75456954","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Employer Satisfaction in Brunei Darussalam 文莱达鲁萨兰国的雇主满意度
Q4 Economics, Econometrics and Finance Pub Date : 2020-01-01 DOI: 10.36924/sbe.2020.3303
Juliet Chui Suan Hoh, Shaorong Wu, Qiuheng Shi
Brunei Darussalam’s Long-Term Development Plan 2035 outlines the Ministry’s goals for the national education system to prepare Bruneian youths for employment and to embrace Malay Islamic Monarchy (MIB) as a concept that guides one’s way of life. Keeping that in perspective, a research was initiated to find out employer satisfaction on employees in Brunei. Employer data and contact details were collected through various database, yellow pages and social media. Broadly, this study supports the established Input-Environment-Output (IEO) model in evaluating employer satisfaction in Brunei Darussalam. The study analyzed data from 454 employer self-reports from private and public sectors with a diverse employer profile and 24 employers were interviewed. Employers were asked to rate their satisfaction with the 24 competencies the graduates employed in their respective companies possess. The highest level of employer expectation in job competencies were communication abilities, problem solving skill, commitment, self-confidence, managerial skills, time management, creativity and innovative, knowledge of specific computer applications, punctually and specific technical knowledge. The analysis of this study shows that employers are mostly satisfied. A set of recommendations were also formulated based on the results of the study.
文莱达鲁萨兰国的2035年长期发展计划概述了教育部为国家教育系统制定的目标,旨在为文莱青年就业做好准备,并将马来伊斯兰君主制(MIB)作为指导生活方式的概念。考虑到这一点,我们开展了一项研究,以了解文莱雇主对员工的满意度。雇主数据和联系方式是通过各种数据库、黄页和社交媒体收集的。总的来说,本研究支持在评估文莱达鲁萨兰国雇主满意度时建立的投入-环境-产出(IEO)模型。该研究分析了来自私营和公共部门的454名雇主的自我报告数据,这些雇主具有不同的雇主形象,并采访了24名雇主。雇主被要求对毕业生在各自公司所具备的24项能力进行满意度评价。雇主对工作能力的最高期望是沟通能力、解决问题的能力、敬业精神、自信、管理能力、时间管理、创造力和创新精神、特定电脑应用知识、准时和特定技术知识。本研究的分析表明,雇主是最满意的。根据研究结果,还制定了一套建议。
{"title":"Employer Satisfaction in Brunei Darussalam","authors":"Juliet Chui Suan Hoh, Shaorong Wu, Qiuheng Shi","doi":"10.36924/sbe.2020.3303","DOIUrl":"https://doi.org/10.36924/sbe.2020.3303","url":null,"abstract":"Brunei Darussalam’s Long-Term Development Plan 2035 outlines the Ministry’s goals for the national education system to prepare Bruneian youths for employment and to embrace Malay Islamic Monarchy (MIB) as a concept that guides one’s way of life. Keeping that in perspective, a research was initiated to find out employer satisfaction on employees in Brunei. Employer data and contact details were collected through various database, yellow pages and social media. Broadly, this study supports the established Input-Environment-Output (IEO) model in evaluating employer satisfaction in Brunei Darussalam. The study analyzed data from 454 employer self-reports from private and public sectors with a diverse employer profile and 24 employers were interviewed. Employers were asked to rate their satisfaction with the 24 competencies the graduates employed in their respective companies possess. The highest level of employer expectation in job competencies were communication abilities, problem solving skill, commitment, self-confidence, managerial skills, time management, creativity and innovative, knowledge of specific computer applications, punctually and specific technical knowledge. The analysis of this study shows that employers are mostly satisfied. A set of recommendations were also formulated based on the results of the study.","PeriodicalId":39482,"journal":{"name":"Journal of Business Valuation and Economic Loss Analysis","volume":"84 2 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87660264","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Peripheral Banking System Fragility and its Effect on EMU Monetary Policy Transmission Mechanism 外围银行体系脆弱性及其对EMU货币政策传导机制的影响
Q4 Economics, Econometrics and Finance Pub Date : 2020-01-01 DOI: 10.36924/sbe.2020.3301
Michail E. Petsalakis, Ahmed M. Khalid, G. Premaratne
This article evaluates the transmission through intermediaries taking into consideration the dichotomy between peripheral and core banking systems with regards to the ECB’s standard and non-standard measures of monetary policy by the use of “shadow rate” as an indicator of the monetary policy stance. Bank sector is represented by lending surveys data (BLS) which contain robust quarterly information on changes in loan terms, conditions and standards for both firms and households. By using a Factor Augmented VAR (FAVAR) methodology, we conclude that our model performs well, but it only contradicts the predictions of theory as far as it concerns the credit volume impulse responses functions (IRFs). Selecting a sample of core and peripheral banking systems to apply our methodology, we find the theoretical predictions are confirmed only when the peripheral banking systems are neutralized, indicating that the erratic behaviour of IRFs results from the periphery’s banking system inclusion. We conclude that dislocation in the peripheral segment of European banking system impairs seriously the monetary policy transmission mechanism and, importantly, steps should be undertaken towards risk-sharing in EMU and risk reduction in peripheral banking systems to cure banking system imbalances in the context of EMU.
本文通过使用“影子利率”作为货币政策立场的指标,考虑到欧洲央行货币政策的标准和非标准措施,外围和核心银行体系之间的二分法,评估了通过中介机构的传导。银行部门以贷款调查数据(BLS)为代表,这些数据包含有关企业和家庭贷款条款、条件和标准变化的强劲季度信息。通过使用因子增强VAR (FAVAR)方法,我们得出结论,我们的模型表现良好,但它只与理论预测相矛盾,因为它涉及信贷量脉冲响应函数(irf)。选择核心银行系统和外围银行系统的样本来应用我们的方法,我们发现只有当外围银行系统被中和时,理论预测才得到证实,这表明外围银行系统的不稳定行为是外围银行系统纳入的结果。我们的结论是,欧洲银行体系外围部分的错位严重损害了货币政策的传导机制,重要的是,应该采取措施在欧洲货币联盟中分担风险,并在欧洲货币联盟的背景下降低外围银行体系的风险,以治愈欧洲货币联盟背景下的银行体系失衡。
{"title":"Peripheral Banking System Fragility and its Effect on EMU Monetary Policy Transmission Mechanism","authors":"Michail E. Petsalakis, Ahmed M. Khalid, G. Premaratne","doi":"10.36924/sbe.2020.3301","DOIUrl":"https://doi.org/10.36924/sbe.2020.3301","url":null,"abstract":"This article evaluates the transmission through intermediaries taking into consideration the dichotomy between peripheral and core banking systems with regards to the ECB’s standard and non-standard measures of monetary policy by the use of “shadow rate” as an indicator of the monetary policy stance. Bank sector is represented by lending surveys data (BLS) which contain robust quarterly information on changes in loan terms, conditions and standards for both firms and households. By using a Factor Augmented VAR (FAVAR) methodology, we conclude that our model performs well, but it only contradicts the predictions of theory as far as it concerns the credit volume impulse responses functions (IRFs). Selecting a sample of core and peripheral banking systems to apply our methodology, we find the theoretical predictions are confirmed only when the peripheral banking systems are neutralized, indicating that the erratic behaviour of IRFs results from the periphery’s banking system inclusion. We conclude that dislocation in the peripheral segment of European banking system impairs seriously the monetary policy transmission mechanism and, importantly, steps should be undertaken towards risk-sharing in EMU and risk reduction in peripheral banking systems to cure banking system imbalances in the context of EMU.","PeriodicalId":39482,"journal":{"name":"Journal of Business Valuation and Economic Loss Analysis","volume":"22 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74774452","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Islam and Urbanisation Economics: The Khaldūnian Perspective 伊斯兰教与城市化经济学:Khaldūnian视角
Q4 Economics, Econometrics and Finance Pub Date : 2020-01-01 DOI: 10.1142/j_10.36924sbe.2020.3305
Abdul Halim Abdul Karim
Ibn Khaldūn’s in-depth analysis of civilizational development and dynamics encapsulates the socio-economic impact caused by the shift from a migratory society to a sedentary society in human history. This shift is a precursor to and reflects the process of urbanization and city living in modern life. Indeed, today’s economists, sociologists and policy makers are familiar with the problems of urbanization vis-à-vis social and economic imbalances as a result of decaying cities and neglected rural areas. The problems of urbanization are aggravated by globalization but there is little development in the understanding of the nature and impact of urbanization in the context of globalization. All indications are that the problems associated with urbanization has not only been unresolved but has worsened due to globalization. Furthermore, the emergence of cities and mega-cities around the globe together with the attendant socio-economic and political upheavals suggests a need to revisit urbanization economics. This paper attempts to contribute to fulfilling this need by drawing from Islamic scholarship with specific reference to Ibn Khaldūn’s ideas regarding civilizational dynamics. Specifically, we will leverage on a conceptual and historical approach to revisit Khaldūnian key-concepts relevant to the socio-economic impacts resulting from urbanization. This would further inform us about the dynamics of urbanization as a globalized phenomenon impacting upon the global economy and our understanding of urbanization economics.
伊本Khaldūn对文明发展和动态的深入分析概括了人类历史上从迁徙社会到定居社会的转变所带来的社会经济影响。这种转变是城市化和城市生活在现代生活中的前兆和反映。事实上,今天的经济学家、社会学家和政策制定者都很熟悉城市化带来的问题-à-vis由于城市衰败和农村地区被忽视而导致的社会和经济失衡。全球化加剧了城市化的问题,但在全球化背景下对城市化的性质和影响的认识却没有什么进展。所有迹象表明,与城市化有关的问题不仅没有得到解决,而且由于全球化而恶化。此外,全球城市和特大城市的出现以及随之而来的社会经济和政治动荡表明有必要重新审视城市化经济学。本文试图通过借鉴伊斯兰学术来满足这一需求,具体参照伊本Khaldūn关于文明动态的观点。具体而言,我们将利用概念和历史方法来重新审视Khaldūnian与城市化产生的社会经济影响相关的关键概念。这将进一步告诉我们城市化作为一种影响全球经济的全球化现象的动态,以及我们对城市化经济学的理解。
{"title":"Islam and Urbanisation Economics: The Khaldūnian Perspective","authors":"Abdul Halim Abdul Karim","doi":"10.1142/j_10.36924sbe.2020.3305","DOIUrl":"https://doi.org/10.1142/j_10.36924sbe.2020.3305","url":null,"abstract":"Ibn Khaldūn’s in-depth analysis of civilizational development and dynamics encapsulates the socio-economic impact caused by the shift from a migratory society to a sedentary society in human history. This shift is a precursor to and reflects the process of urbanization and city living in modern life. Indeed, today’s economists, sociologists and policy makers are familiar with the problems of urbanization vis-à-vis social and economic imbalances as a result of decaying cities and neglected rural areas. The problems of urbanization are aggravated by globalization but there is little development in the understanding of the nature and impact of urbanization in the context of globalization. All indications are that the problems associated with urbanization has not only been unresolved but has worsened due to globalization. Furthermore, the emergence of cities and mega-cities around the globe together with the attendant socio-economic and political upheavals suggests a need to revisit urbanization economics. This paper attempts to contribute to fulfilling this need by drawing from Islamic scholarship with specific reference to Ibn Khaldūn’s ideas regarding civilizational dynamics. Specifically, we will leverage on a conceptual and historical approach to revisit Khaldūnian key-concepts relevant to the socio-economic impacts resulting from urbanization. This would further inform us about the dynamics of urbanization as a globalized phenomenon impacting upon the global economy and our understanding of urbanization economics.","PeriodicalId":39482,"journal":{"name":"Journal of Business Valuation and Economic Loss Analysis","volume":"35 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72759883","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Time-Variant Sources of Inflation and Inflation Volatility and Their Interrelations and Effects on Macroeconomic Fluctuations: Evidence from Indonesia and Thailand 通货膨胀和通货膨胀波动的时变来源及其相互关系和对宏观经济波动的影响:来自印度尼西亚和泰国的证据
Q4 Economics, Econometrics and Finance Pub Date : 2020-01-01 DOI: 10.36924/sbe.2020.3302
A. Hossain, M. Raghavan
Indonesia and Thailand, two major open economies in Southeast Asia which operate under ‘managed-float’ exchange rate systems, have remained susceptible to both the external and domestic shocks since the East-Asian financial crisis of the late 1990s. Unlike the standard monetary-policy literature, these countries have introduced ‘flexible inflation targeting’ as the monetary policy strategy under managed-float exchange rate systems. Although these countries have managed to keep inflation low on average in a low-inflation environment, inflation has however remained highly volatile. This paper attempts to answer how significant are external shocks, relative to domestic shocks, as the drivers of inflation and inflation volatility for these countries? The paper uses a Structural Vector Autoregression (SVAR) modelling framework and monthly macroeconomic data over the period 2000M1-2015M12. The empirical results suggest that in both countries, (i) inflation is more sensitive to external shocks relative to domestic shocks, which is consistent with the inflation globalization hypothesis; (ii) Inflation volatility however remains sensitive to both the external and domestic shocks; (iii) As expected, inflation and inflation volatility exhibit a feedback relation between them, which is consistent with the Friedman‐Ball and Cukierman‐Meltzer propositions. The paper also highlights that inflation and inflation volatility affect the real interest and exchange rates, which affect real output and asset prices. The paper concludes that Indonesia and Thailand can make monetary policy more effective for maintaining price stability if they make the exchange rates more flexible to ameliorate the effects of external shocks on these economies
印度尼西亚和泰国是东南亚两个主要的开放经济体,实行“有管理的浮动”汇率制度,自20世纪90年代末东亚金融危机以来,这两个国家仍然容易受到外部和国内冲击的影响。与标准的货币政策文献不同,这些国家在有管理的浮动汇率制度下引入了“灵活的通胀目标制”作为货币政策策略。尽管这些国家在低通胀环境中设法将通胀平均保持在较低水平,但通胀仍然高度不稳定。本文试图回答,相对于国内冲击,外部冲击作为这些国家通胀和通胀波动的驱动因素有多重要?本文使用结构向量自回归(SVAR)建模框架和2000年1月至2015年12月期间的月度宏观经济数据。实证结果表明,两国的通货膨胀相对于国内冲击对外部冲击更为敏感,这与通货膨胀全球化假说相一致;然而,通货膨胀波动仍然对外部和国内冲击都很敏感;(iii)正如预期的那样,通货膨胀和通货膨胀波动之间表现出一种反馈关系,这与Friedman - Ball和Cukierman - Meltzer命题是一致的。本文还强调,通货膨胀和通货膨胀波动影响实际利率和汇率,从而影响实际产出和资产价格。本文的结论是,如果印尼和泰国提高汇率的灵活性,以减轻外部冲击对这些经济体的影响,它们可以使货币政策更有效地维持价格稳定
{"title":"The Time-Variant Sources of Inflation and Inflation Volatility and Their Interrelations and Effects on Macroeconomic Fluctuations: Evidence from Indonesia and Thailand","authors":"A. Hossain, M. Raghavan","doi":"10.36924/sbe.2020.3302","DOIUrl":"https://doi.org/10.36924/sbe.2020.3302","url":null,"abstract":"Indonesia and Thailand, two major open economies in Southeast Asia which operate under ‘managed-float’ exchange rate systems, have remained susceptible to both the external and domestic shocks since the East-Asian financial crisis of the late 1990s. Unlike the standard monetary-policy literature, these countries have introduced ‘flexible inflation targeting’ as the monetary policy strategy under managed-float exchange rate systems. Although these countries have managed to keep inflation low on average in a low-inflation environment, inflation has however remained highly volatile. This paper attempts to answer how significant are external shocks, relative to domestic shocks, as the drivers of inflation and inflation volatility for these countries? The paper uses a Structural Vector Autoregression (SVAR) modelling framework and monthly macroeconomic data over the period 2000M1-2015M12. The empirical results suggest that in both countries, (i) inflation is more sensitive to external shocks relative to domestic shocks, which is consistent with the inflation globalization hypothesis; (ii) Inflation volatility however remains sensitive to both the external and domestic shocks; (iii) As expected, inflation and inflation volatility exhibit a feedback relation between them, which is consistent with the Friedman‐Ball and Cukierman‐Meltzer propositions. The paper also highlights that inflation and inflation volatility affect the real interest and exchange rates, which affect real output and asset prices. The paper concludes that Indonesia and Thailand can make monetary policy more effective for maintaining price stability if they make the exchange rates more flexible to ameliorate the effects of external shocks on these economies","PeriodicalId":39482,"journal":{"name":"Journal of Business Valuation and Economic Loss Analysis","volume":"42 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82458933","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Modelling Business Ecosystem of Digital Marketplace Using Value Network 基于价值网络的数字化市场商业生态系统建模
Q4 Economics, Econometrics and Finance Pub Date : 2020-01-01 DOI: 10.36924/sbe.2020.3203
M. Almunawar, M F Anshari, S. Lim
We are witnessing the digital transformation of businesses has spread across products or services, processes, and deliveries. New business models that take advantage of the digitation process are growing fast and digital platforms spring up in many parts of the world. As digital platforms rely on collaborative actors, viewing a digital firm in isolation may not be appropriate. As such, considering a digital platform in its two-sided network business ecosystem is more suitable to get the big picture of the platform and then analyze how the platform interacts with its surroundings in the ecosystem to keep the balance and expand. The purpose of this paper is to construct a model to map and analyse digital business ecosystem. The paper discusses some theories that are incorporated for the construction of the model and step-by-step how the model is developed. The paper uses as a case to demonstrate how the model works in mapping and analysing a digital business ecosystem of a two-sided market.
我们正在目睹企业的数字化转型已经遍及产品或服务、流程和交付。利用数字化进程的新商业模式正在快速发展,数字平台在世界许多地方如雨后春笋般涌现。由于数字平台依赖于协作行为者,孤立地看待数字公司可能不合适。因此,将一个数字平台放在其双边网络商业生态系统中考虑,更适合于获得平台的大局观,然后分析平台如何在生态系统中与周围环境相互作用,以保持平衡和扩展。本文的目的是构建一个模型来映射和分析数字商业生态系统。本文讨论了构建该模型所采用的一些理论,以及该模型是如何逐步发展的。本文以一个案例来展示该模型如何在绘制和分析双边市场的数字商业生态系统中发挥作用。
{"title":"Modelling Business Ecosystem of Digital Marketplace Using Value Network","authors":"M. Almunawar, M F Anshari, S. Lim","doi":"10.36924/sbe.2020.3203","DOIUrl":"https://doi.org/10.36924/sbe.2020.3203","url":null,"abstract":"We are witnessing the digital transformation of businesses has spread across products or services, processes, and deliveries. New business models that take advantage of the digitation process are growing fast and digital platforms spring up in many parts of the world. As digital platforms rely on collaborative actors, viewing a digital firm in isolation may not be appropriate. As such, considering a digital platform in its two-sided network business ecosystem is more suitable to get the big picture of the platform and then analyze how the platform interacts with its surroundings in the ecosystem to keep the balance and expand. The purpose of this paper is to construct a model to map and analyse digital business ecosystem. The paper discusses some theories that are incorporated for the construction of the model and step-by-step how the model is developed. The paper uses as a case to demonstrate how the model works in mapping and analysing a digital business ecosystem of a two-sided market.","PeriodicalId":39482,"journal":{"name":"Journal of Business Valuation and Economic Loss Analysis","volume":"60 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90648505","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Factors Affecting Internet Transactions: Case of Services Industry 影响互联网交易的因素:以服务业为例
Q4 Economics, Econometrics and Finance Pub Date : 2020-01-01 DOI: 10.36924/sbe.2020.3201
N. D. Dela Cruz, Alyssa Cyrielle B. Villanueva
Internet use has been evolving rapidly with the onset of digital technologies. Among the various public, private and welfare industries, transportation and accommodation are the leading services sectors that shift their transaction methods through online platforms. This paper examines the various factors affecting internet transactions particularly on transportation and accommodation services across selected countries using fixed-effects regression model. The researchers used data for thirty countries in 2011 to 2017. Findings indicate that internet penetration rate, credit card transactions, GDP per capita, percentage of internet users in the population, trade openness, and secured internet servers significantly affect internet transactions on services.
随着数字技术的出现,互联网的使用也在迅速发展。在各种公共、私营和福利行业中,交通和住宿是通过网络平台转变交易方式的主要服务行业。本文使用固定效应回归模型考察了影响互联网交易的各种因素,特别是在选定国家的交通和住宿服务方面。研究人员使用了2011年至2017年30个国家的数据。研究结果表明,互联网普及率、信用卡交易、人均GDP、互联网用户占人口比例、贸易开放度和安全的互联网服务器显著影响互联网服务交易。
{"title":"Factors Affecting Internet Transactions: Case of Services Industry","authors":"N. D. Dela Cruz, Alyssa Cyrielle B. Villanueva","doi":"10.36924/sbe.2020.3201","DOIUrl":"https://doi.org/10.36924/sbe.2020.3201","url":null,"abstract":"Internet use has been evolving rapidly with the onset of digital technologies. Among the various public, private and welfare industries, transportation and accommodation are the leading services sectors that shift their transaction methods through online platforms. This paper examines the various factors affecting internet transactions particularly on transportation and accommodation services across selected countries using fixed-effects regression model. The researchers used data for thirty countries in 2011 to 2017. Findings indicate that internet penetration rate, credit card transactions, GDP per capita, percentage of internet users in the population, trade openness, and secured internet servers significantly affect internet transactions on services.","PeriodicalId":39482,"journal":{"name":"Journal of Business Valuation and Economic Loss Analysis","volume":"30 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74656907","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Boosting Learning Goal Orientation through Work Engagement: From the Lens of Malaysian Academics 通过工作投入促进学习目标导向:来自马来西亚学者的视角
Q4 Economics, Econometrics and Finance Pub Date : 2020-01-01 DOI: 10.36924/sbe.2020.3105
F. Tan, Johanim Johari, Khulida Kirana. Yahya
The objective of the present study is to determine the influence of work engagement on academics’ learning goal orientation. Data was collected through a questionnaire from 265 academics in Malaysian public universities. The regression results indicated that work engagement is a significant factor that influences academics’ learning goal orientation. Discussions explicated the plausible explanations to the findings. The study is beneficial to the universities’ management in understanding the aspects of work engagement and learning goal orientation among academics. The study is also useful in helping universities develop measures to enhance academics’ learning goal orientation, which is important in catapulting university’s overall performance. The implications of the research are also discussed.
本研究的目的是确定工作投入对学者学习目标取向的影响。数据是通过对马来西亚公立大学265名学者的问卷调查收集的。回归结果显示,工作投入是影响大学生学习目标取向的重要因素。讨论阐明了对这些发现的合理解释。本研究有助于高校管理人员了解学者的工作投入和学习目标取向。本研究也有助于大学制定措施,提高学者的学习目标导向,这对提高大学的整体绩效具有重要意义。本文还讨论了本研究的意义。
{"title":"Boosting Learning Goal Orientation through Work Engagement: From the Lens of Malaysian Academics","authors":"F. Tan, Johanim Johari, Khulida Kirana. Yahya","doi":"10.36924/sbe.2020.3105","DOIUrl":"https://doi.org/10.36924/sbe.2020.3105","url":null,"abstract":"The objective of the present study is to determine the influence of work engagement on academics’ learning goal orientation. Data was collected through a questionnaire from 265 academics in Malaysian public universities. The regression results indicated that work engagement is a significant factor that influences academics’ learning goal orientation. Discussions explicated the plausible explanations to the findings. The study is beneficial to the universities’ management in understanding the aspects of work engagement and learning goal orientation among academics. The study is also useful in helping universities develop measures to enhance academics’ learning goal orientation, which is important in catapulting university’s overall performance. The implications of the research are also discussed.","PeriodicalId":39482,"journal":{"name":"Journal of Business Valuation and Economic Loss Analysis","volume":"113 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79750655","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Determinants of Turnover Intention among Bank Employees 银行员工离职倾向的决定因素
Q4 Economics, Econometrics and Finance Pub Date : 2020-01-01 DOI: 10.36924/sbe.2020.3103
C. H. Yeo
The aim of this study is to identify the determinants of turnover intention among bank employees in Kuala Lumpur. Specifically, the objective of this study is to assess the relationships between employee relations, working environment and conditions, compensation and benefit packages, career advancement opportunities and turnover intention. A total of 150 questionnaires were distributed among bank employees in the Masjid Jamek area and the researchers successfully collected 120 questionnaires from the respective respondents. All the data was analyzed using Statistical Package for Social Science (SPSS) 23.0 version. Two types of data analysis were used - descriptive analysis and inferential analysis. Descriptive analysis was used to study the respondent demographic information such as age, gender, education level, length of services, and monthly income level. Meanwhile, the inferential analysis was used to examine the relationships between employee relations, working environment and conditions, compensation and benefit packages, career advancement opportunities and turnover intention. The results show that the relationship between turnover intention and employee relations is weak. However, working environment and conditions, compensation and benefit packages, and career advancement opportunities are moderately correlated to turnover intention among bank employees. Based on a multiple regression analysis, working environment and conditions, and compensation and benefit packages have negative and significant relationship with turnover intention.
本研究的目的是确定吉隆坡银行员工离职意向的决定因素。具体而言,本研究的目的是评估员工关系、工作环境和条件、薪酬和福利待遇、职业发展机会和离职倾向之间的关系。在Masjid Jamek地区的银行员工中共发放了150份问卷,研究人员成功地从各自的受访者中收集了120份问卷。所有数据采用SPSS 23.0版本进行分析。使用两种类型的数据分析-描述性分析和推断性分析。采用描述性分析方法研究被调查者的年龄、性别、受教育程度、服务年限、月收入水平等人口统计信息。同时,运用推理分析方法考察了员工关系、工作环境与条件、薪酬福利待遇、职业发展机会与离职倾向之间的关系。结果表明,离职倾向与员工关系之间的关系较弱。而工作环境与条件、薪酬福利待遇、职业发展机会与银行员工离职倾向存在适度相关。多元回归分析显示,工作环境与条件、薪酬福利与离职倾向呈显著负相关。
{"title":"The Determinants of Turnover Intention among Bank Employees","authors":"C. H. Yeo","doi":"10.36924/sbe.2020.3103","DOIUrl":"https://doi.org/10.36924/sbe.2020.3103","url":null,"abstract":"The aim of this study is to identify the determinants of turnover intention among bank employees in Kuala Lumpur. Specifically, the objective of this study is to assess the relationships between employee relations, working environment and conditions, compensation and benefit packages, career advancement opportunities and turnover intention. A total of 150 questionnaires were distributed among bank employees in the Masjid Jamek area and the researchers successfully collected 120 questionnaires from the respective respondents. All the data was analyzed using Statistical Package for Social Science (SPSS) 23.0 version. Two types of data analysis were used - descriptive analysis and inferential analysis. Descriptive analysis was used to study the respondent demographic information such as age, gender, education level, length of services, and monthly income level. Meanwhile, the inferential analysis was used to examine the relationships between employee relations, working environment and conditions, compensation and benefit packages, career advancement opportunities and turnover intention. The results show that the relationship between turnover intention and employee relations is weak. However, working environment and conditions, compensation and benefit packages, and career advancement opportunities are moderately correlated to turnover intention among bank employees. Based on a multiple regression analysis, working environment and conditions, and compensation and benefit packages have negative and significant relationship with turnover intention.","PeriodicalId":39482,"journal":{"name":"Journal of Business Valuation and Economic Loss Analysis","volume":"29 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89939542","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
期刊
Journal of Business Valuation and Economic Loss Analysis
全部 Acc. Chem. Res. ACS Applied Bio Materials ACS Appl. Electron. Mater. ACS Appl. Energy Mater. ACS Appl. Mater. Interfaces ACS Appl. Nano Mater. ACS Appl. Polym. Mater. ACS BIOMATER-SCI ENG ACS Catal. ACS Cent. Sci. ACS Chem. Biol. ACS Chemical Health & Safety ACS Chem. Neurosci. ACS Comb. Sci. ACS Earth Space Chem. ACS Energy Lett. ACS Infect. Dis. ACS Macro Lett. ACS Mater. Lett. ACS Med. Chem. Lett. ACS Nano ACS Omega ACS Photonics ACS Sens. ACS Sustainable Chem. Eng. ACS Synth. Biol. Anal. Chem. BIOCHEMISTRY-US Bioconjugate Chem. BIOMACROMOLECULES Chem. Res. Toxicol. Chem. Rev. Chem. Mater. CRYST GROWTH DES ENERG FUEL Environ. Sci. Technol. Environ. Sci. Technol. Lett. Eur. J. Inorg. Chem. IND ENG CHEM RES Inorg. Chem. J. Agric. Food. Chem. J. Chem. Eng. Data J. Chem. Educ. J. Chem. Inf. Model. J. Chem. Theory Comput. J. Med. Chem. J. Nat. Prod. J PROTEOME RES J. Am. Chem. Soc. LANGMUIR MACROMOLECULES Mol. Pharmaceutics Nano Lett. Org. Lett. ORG PROCESS RES DEV ORGANOMETALLICS J. Org. Chem. J. Phys. Chem. J. Phys. Chem. A J. Phys. Chem. B J. Phys. Chem. C J. Phys. Chem. Lett. Analyst Anal. Methods Biomater. Sci. Catal. Sci. Technol. Chem. Commun. Chem. Soc. Rev. CHEM EDUC RES PRACT CRYSTENGCOMM Dalton Trans. Energy Environ. Sci. ENVIRON SCI-NANO ENVIRON SCI-PROC IMP ENVIRON SCI-WAT RES Faraday Discuss. Food Funct. Green Chem. Inorg. Chem. Front. Integr. Biol. J. Anal. At. Spectrom. J. Mater. Chem. A J. Mater. Chem. B J. Mater. Chem. C Lab Chip Mater. Chem. Front. Mater. Horiz. MEDCHEMCOMM Metallomics Mol. Biosyst. Mol. Syst. Des. Eng. Nanoscale Nanoscale Horiz. Nat. Prod. Rep. New J. Chem. Org. Biomol. Chem. Org. Chem. Front. PHOTOCH PHOTOBIO SCI PCCP Polym. Chem.
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
0
微信
客服QQ
Book学术公众号 扫码关注我们
反馈
×
意见反馈
请填写您的意见或建议
请填写您的手机或邮箱
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
Book学术官方微信
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术
文献互助 智能选刊 最新文献 互助须知 联系我们:info@booksci.cn
Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。
Copyright © 2023 Book学术 All rights reserved.
ghs 京公网安备 11010802042870号 京ICP备2023020795号-1