Pub Date : 2022-01-01DOI: 10.1504/ijrm.2022.10049684
A. Focacci
{"title":"THE INVESTMENT RATE OF RETURN AT THE END OF THE PERIOD: A FUTURE WORTH APPROACH TO CAPITAL BUDGETING","authors":"A. Focacci","doi":"10.1504/ijrm.2022.10049684","DOIUrl":"https://doi.org/10.1504/ijrm.2022.10049684","url":null,"abstract":"","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66706033","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}
Pub Date : 2021-05-03DOI: 10.1504/IJRM.2021.114970
Neda Etebari Alamdari, M. Anjos, G. Savard
Demand forecasting lies at the heart of any revenue management system. It aims to estimate the quantity of a product or service that will be purchased in the future. In this paper, we perform railway demand forecasting for a major European railroad company by taking various contributing parameters into account. To have multipurpose results, the current problem is explored in two different aggregation levels. At the high level, the problem is defined as prediction of the total number of bookings for all trains departing on a specific departure date and within a certain time range. Moreover, in a more disaggregated level, the prediction models aim to compute the total number of bookings within each booking period for all trains leaving in a specific time range of a certain departure date. Using state-of-the-art machine learning methods and various heuristic feature construction techniques, remarkable results with high forecast accuracy and reasonable computational complexity are achieved in both aggregation levels. This paper aims to contribute to the application of ML techniques in RM by introducing new heuristic feature engineering techniques, exploring the importance of accurate clustering, and implementing state-of-the-art machine learning methods in the context of railway industry.
{"title":"Application of machine learning techniques in railway demand forecasting","authors":"Neda Etebari Alamdari, M. Anjos, G. Savard","doi":"10.1504/IJRM.2021.114970","DOIUrl":"https://doi.org/10.1504/IJRM.2021.114970","url":null,"abstract":"Demand forecasting lies at the heart of any revenue management system. It aims to estimate the quantity of a product or service that will be purchased in the future. In this paper, we perform railway demand forecasting for a major European railroad company by taking various contributing parameters into account. To have multipurpose results, the current problem is explored in two different aggregation levels. At the high level, the problem is defined as prediction of the total number of bookings for all trains departing on a specific departure date and within a certain time range. Moreover, in a more disaggregated level, the prediction models aim to compute the total number of bookings within each booking period for all trains leaving in a specific time range of a certain departure date. Using state-of-the-art machine learning methods and various heuristic feature construction techniques, remarkable results with high forecast accuracy and reasonable computational complexity are achieved in both aggregation levels. This paper aims to contribute to the application of ML techniques in RM by introducing new heuristic feature engineering techniques, exploring the importance of accurate clustering, and implementing state-of-the-art machine learning methods in the context of railway industry.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-05-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48528822","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}
Pub Date : 2021-05-03DOI: 10.1504/IJRM.2021.114967
Mahartha Titi, U. Salim, Sumiati, Risna Wijayanti
We examine the determinants of fund returns of equity, fixed income, mixed, and money market mutual funds in Indonesia. Our empirical findings suggest that previous fund performances are significant determinants of current fund performances. On the other hand, fund age, management fee, and management period of the investment manager are not significant determinants of fund performances. Fund size is a significant determinant of fund performances only for equity funds. Furthermore, introducing the interest rate as a moderator variable weakens the effect of fund size on fund returns only for equity funds and it weakens the effect of the exchange rate on fund performances for equity and money market funds. For fixed income and mixed funds, the moderator variable does not change the effects of fund size and the exchange rate on fund performances. Overall, the robustness tests using three partitions of fund performances, namely bottom 20%, middle 60%, and top 20%, confirm our main findings. An interesting result is that returns of middle performers of fixed income funds are more sensitive to the changes of determinants than those of bottom and top performers.
{"title":"Indonesian mutual funds: performance determinants and interaction of macroeconomic factors","authors":"Mahartha Titi, U. Salim, Sumiati, Risna Wijayanti","doi":"10.1504/IJRM.2021.114967","DOIUrl":"https://doi.org/10.1504/IJRM.2021.114967","url":null,"abstract":"We examine the determinants of fund returns of equity, fixed income, mixed, and money market mutual funds in Indonesia. Our empirical findings suggest that previous fund performances are significant determinants of current fund performances. On the other hand, fund age, management fee, and management period of the investment manager are not significant determinants of fund performances. Fund size is a significant determinant of fund performances only for equity funds. Furthermore, introducing the interest rate as a moderator variable weakens the effect of fund size on fund returns only for equity funds and it weakens the effect of the exchange rate on fund performances for equity and money market funds. For fixed income and mixed funds, the moderator variable does not change the effects of fund size and the exchange rate on fund performances. Overall, the robustness tests using three partitions of fund performances, namely bottom 20%, middle 60%, and top 20%, confirm our main findings. An interesting result is that returns of middle performers of fixed income funds are more sensitive to the changes of determinants than those of bottom and top performers.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-05-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47517792","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}
Pub Date : 2021-03-12DOI: 10.1504/IJRM.2020.110631
Mohamed Amine Kacef, Kamal Boukhetala
The concept of Istanbul options were first introduced by Michel Jacques in 1997. These derivatives products are considered as an extension of the Asian options. In this paper, we propose an analytical approximation formula for a geometric Istanbul call option (GIC) under the standard Black-Scholes model. Our approximate pricing formula is obtained in closed-form using a second-order Taylor expansion. We compare our theoretical results with those of Monte Carlo simulations using the control variates method. We also carry out a comparative price study with an arithmetic Istanbul call option. Finally, we study the effects of changes in the price of the underlying asset on the value of GIC.
{"title":"A closed-form approximation for pricing geometric Istanbul options","authors":"Mohamed Amine Kacef, Kamal Boukhetala","doi":"10.1504/IJRM.2020.110631","DOIUrl":"https://doi.org/10.1504/IJRM.2020.110631","url":null,"abstract":"The concept of Istanbul options were first introduced by Michel Jacques in 1997. These derivatives products are considered as an extension of the Asian options. In this paper, we propose an analytical approximation formula for a geometric Istanbul call option (GIC) under the standard Black-Scholes model. Our approximate pricing formula is obtained in closed-form using a second-order Taylor expansion. We compare our theoretical results with those of Monte Carlo simulations using the control variates method. We also carry out a comparative price study with an arithmetic Istanbul call option. Finally, we study the effects of changes in the price of the underlying asset on the value of GIC.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-03-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47140689","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}
Pub Date : 2021-01-01DOI: 10.1504/IJRM.2021.10038256
Bruce Dahl, Iddrisu Awudu, Kristopher Skadberg, W. J. Wilson, Mariama Yakubu
{"title":"Optimal hedging in a processing environment: A case of ethanol production","authors":"Bruce Dahl, Iddrisu Awudu, Kristopher Skadberg, W. J. Wilson, Mariama Yakubu","doi":"10.1504/IJRM.2021.10038256","DOIUrl":"https://doi.org/10.1504/IJRM.2021.10038256","url":null,"abstract":"","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"11 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66706340","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}
Pub Date : 2021-01-01DOI: 10.1504/ijrm.2021.114966
Girish K Nair
{"title":"Data driven pricing strategies for hotels during the COVID-19 pandemic","authors":"Girish K Nair","doi":"10.1504/ijrm.2021.114966","DOIUrl":"https://doi.org/10.1504/ijrm.2021.114966","url":null,"abstract":"","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66705970","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}
Pub Date : 2021-01-01DOI: 10.1504/IJRM.2021.10036948
Mrinalini Pandey, Santosh Kumar
{"title":"9-Ending Prices in Retail Advertisements: Indian Consumers Price Perception and Proneness to Buy","authors":"Mrinalini Pandey, Santosh Kumar","doi":"10.1504/IJRM.2021.10036948","DOIUrl":"https://doi.org/10.1504/IJRM.2021.10036948","url":null,"abstract":"","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"12 1","pages":"1"},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66706287","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}
Pub Date : 2021-01-01DOI: 10.1504/ijrm.2021.10040810
Issam Ben Osman, Naima Lassoued
{"title":"The impact of national culture on overinvestment","authors":"Issam Ben Osman, Naima Lassoued","doi":"10.1504/ijrm.2021.10040810","DOIUrl":"https://doi.org/10.1504/ijrm.2021.10040810","url":null,"abstract":"","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66706411","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}
Pub Date : 2021-01-01DOI: 10.1504/IJRM.2021.10036945
Wen-Chyuan Chiang, W. Bradley, Li Sun
{"title":"Unverifiable Net Assets Ratio and Annual Report Reading Difficulty","authors":"Wen-Chyuan Chiang, W. Bradley, Li Sun","doi":"10.1504/IJRM.2021.10036945","DOIUrl":"https://doi.org/10.1504/IJRM.2021.10036945","url":null,"abstract":"","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66706274","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}
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