Pub Date : 2020-01-01DOI: 10.1504/ijrm.2020.10032057
Iddrisu Awudu, W. Wilson, M. Fathi, Khalid Bachkar, Bruce Dahl, Adolf Acquaye
In this paper, we formulate an optimisation-hedging model which demonstrates how operational research methods and analytics can take advantage of big data sources to inform business decisions in the renewable energy sector. This is achieved by incorporating an analytical technique called co-cluster (copula clustering) algorithm in measuring risks confronting a renewable energy producer. The model development and co-cluster methodology are illustrated using an empirical case study under three market scenarios for an ethanol producer. Our results show that adopting the co-cluster algorithm gives the ethanol processor an improved risk management strategy by capturing marginal relationships among the input and output prices; hence highlighting the advantages of big data and data analytics in business decision making within the renewable energy sector.
{"title":"Application of big data copula-based clustering for hedging in renewable energy systems","authors":"Iddrisu Awudu, W. Wilson, M. Fathi, Khalid Bachkar, Bruce Dahl, Adolf Acquaye","doi":"10.1504/ijrm.2020.10032057","DOIUrl":"https://doi.org/10.1504/ijrm.2020.10032057","url":null,"abstract":"In this paper, we formulate an optimisation-hedging model which demonstrates how operational research methods and analytics can take advantage of big data sources to inform business decisions in the renewable energy sector. This is achieved by incorporating an analytical technique called co-cluster (copula clustering) algorithm in measuring risks confronting a renewable energy producer. The model development and co-cluster methodology are illustrated using an empirical case study under three market scenarios for an ethanol producer. Our results show that adopting the co-cluster algorithm gives the ethanol processor an improved risk management strategy by capturing marginal relationships among the input and output prices; hence highlighting the advantages of big data and data analytics in business decision making within the renewable energy sector.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66706183","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 : 2020-01-01DOI: 10.1504/ijrm.2020.110634
Adrien Bouchet, M. Troilo, Timothy L. Urban, Michael J. Mondello, W. Sutton
{"title":"Business analytics, revenue management and sport: evidence from the field","authors":"Adrien Bouchet, M. Troilo, Timothy L. Urban, Michael J. Mondello, W. Sutton","doi":"10.1504/ijrm.2020.110634","DOIUrl":"https://doi.org/10.1504/ijrm.2020.110634","url":null,"abstract":"","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1504/ijrm.2020.110634","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66706208","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 : 2020-01-01DOI: 10.1504/ijrm.2020.10032025
Cesar Cedillos, Rosemary Maellaro, S. Wysong
Selecting a manager is an important decision for any organisation. If done right, the organisation should thrive with strong productivity and financial performance. If the wrong person is selected, negative issues such as low employee morale and low productivity can lead to poor sales and profits. While experience is an important factor in hiring, some organisations place a disproportionate amount of weight on certain kinds of experience. In particular, this study examined a Fortune 500 firm in North America that anecdotally believed that those individuals with prior experience in sales made better managers. Thus, we quantitatively examined if managers at this firm with prior sales experience produced higher sales revenue, profitability (earnings before interest, tax, depreciation and amortisation; EBITDA), and return on controllable assets (ROCA) compared to those managers without prior sales experience. The results of our analysis indicate that skill sets, other than those provided by prior sales experience, are necessary for managers to generate and manage revenue.
{"title":"To sell or not to sell: the impact of managers' sales experience on organisational financial performance","authors":"Cesar Cedillos, Rosemary Maellaro, S. Wysong","doi":"10.1504/ijrm.2020.10032025","DOIUrl":"https://doi.org/10.1504/ijrm.2020.10032025","url":null,"abstract":"Selecting a manager is an important decision for any organisation. If done right, the organisation should thrive with strong productivity and financial performance. If the wrong person is selected, negative issues such as low employee morale and low productivity can lead to poor sales and profits. While experience is an important factor in hiring, some organisations place a disproportionate amount of weight on certain kinds of experience. In particular, this study examined a Fortune 500 firm in North America that anecdotally believed that those individuals with prior experience in sales made better managers. Thus, we quantitatively examined if managers at this firm with prior sales experience produced higher sales revenue, profitability (earnings before interest, tax, depreciation and amortisation; EBITDA), and return on controllable assets (ROCA) compared to those managers without prior sales experience. The results of our analysis indicate that skill sets, other than those provided by prior sales experience, are necessary for managers to generate and manage revenue.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66706138","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 : 2019-10-11DOI: 10.1504/ijrm.2019.103019
R. Russell, C. Cox
In this paper we address the optimisation of a rail-car natural gas liquids distribution and sales revenue supply chain. A network-based goal programming model is used to allocate rail cars to deliver contracted supply quantities from supply plants to regional demand terminals with different product prices. The planning horizon is one year broken down into months and includes futures prices of NGL products. The model incorporates terminal storage capacities, potential demurrage and detention constraints, and inventory carrying costs. The model integrates the distribution and transportation aspects of the problem. Results are reported for a Fortune 500 NGL company.
{"title":"Optimisation of NGL rail car distribution","authors":"R. Russell, C. Cox","doi":"10.1504/ijrm.2019.103019","DOIUrl":"https://doi.org/10.1504/ijrm.2019.103019","url":null,"abstract":"In this paper we address the optimisation of a rail-car natural gas liquids distribution and sales revenue supply chain. A network-based goal programming model is used to allocate rail cars to deliver contracted supply quantities from supply plants to regional demand terminals with different product prices. The planning horizon is one year broken down into months and includes futures prices of NGL products. The model incorporates terminal storage capacities, potential demurrage and detention constraints, and inventory carrying costs. The model integrates the distribution and transportation aspects of the problem. Results are reported for a Fortune 500 NGL company.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1504/ijrm.2019.103019","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43864188","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 : 2019-10-11DOI: 10.1504/ijrm.2019.10024582
Shuming Bai, Kai S. Koong, Fan Wu, J. Bhuyan
To promote effective tax administration, the United States Congress set a goal of 80% of all tax returns filed electronically by 2007. The deadline was extended to 2012, which saw 69% accomplished. Using time series analysis from 2005 to 2016, this study analyses the advancements of electronic tax filings in the USA. Several interesting observations are reported. First, individual e-filing has reached the goal in 2012. Second, overall trends indicate continuous and steady progress both by volume and by share. Third, the total e-filing ratio shows monotonical increase over the years but is still shy of the target in 2016. Fourth, individual e-filing constitutes the majority while business and tax-exempt e-file comprises 15% of the total. Fifth, employment tax e-file, while constituting over half of business e-file, ranks the lowest due to few mandates. Finally, several strategies and recommendations are proposed to reach the composite target.
{"title":"Adoption of e-filing: the US journey","authors":"Shuming Bai, Kai S. Koong, Fan Wu, J. Bhuyan","doi":"10.1504/ijrm.2019.10024582","DOIUrl":"https://doi.org/10.1504/ijrm.2019.10024582","url":null,"abstract":"To promote effective tax administration, the United States Congress set a goal of 80% of all tax returns filed electronically by 2007. The deadline was extended to 2012, which saw 69% accomplished. Using time series analysis from 2005 to 2016, this study analyses the advancements of electronic tax filings in the USA. Several interesting observations are reported. First, individual e-filing has reached the goal in 2012. Second, overall trends indicate continuous and steady progress both by volume and by share. Third, the total e-filing ratio shows monotonical increase over the years but is still shy of the target in 2016. Fourth, individual e-filing constitutes the majority while business and tax-exempt e-file comprises 15% of the total. Fifth, employment tax e-file, while constituting over half of business e-file, ranks the lowest due to few mandates. Finally, several strategies and recommendations are proposed to reach the composite target.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43360596","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 : 2019-10-11DOI: 10.1504/ijrm.2019.103024
A. Focacci
Generally labelled by the term financialisation of commodity markets, integration between traditional financial asset and futures markets has spurred discussions about its supposed detrimental effect. In a revenue management perspective, commodities processors' resulting pricing policies may become more time-sensitive to physical quotations favouring potential instability in firm values. By using a recent developed multibreakpoint detection technique coupled with econometric Granger-causality, we attempt to contribute to existing literature by examining the direct relationships in the supposed influencing mechanism with a special focus on non-commercial activity.
{"title":"Financialisation of the crude oil market: do non-commercial traders influence spot prices","authors":"A. Focacci","doi":"10.1504/ijrm.2019.103024","DOIUrl":"https://doi.org/10.1504/ijrm.2019.103024","url":null,"abstract":"Generally labelled by the term financialisation of commodity markets, integration between traditional financial asset and futures markets has spurred discussions about its supposed detrimental effect. In a revenue management perspective, commodities processors' resulting pricing policies may become more time-sensitive to physical quotations favouring potential instability in firm values. By using a recent developed multibreakpoint detection technique coupled with econometric Granger-causality, we attempt to contribute to existing literature by examining the direct relationships in the supposed influencing mechanism with a special focus on non-commercial activity.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1504/ijrm.2019.103024","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41800831","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 : 2019-10-11DOI: 10.1504/IJRM.2019.10019731
Sumeetha Natesan, Chhaya Singh, Goutam Dutta
The competition in the airline market provides an airline passenger with ample open choices to evaluate before finalising a travel decision. The final travel decision is an outcome of a consideration of multiple parameters. In the last decade, Nepal has witnessed impressive growth in international and domestic air traffic, which in turn has led to a growth in tourism in Nepal. It has, therefore, become crucial for competing airlines in Nepal to monitor their services and align the same with respect to airline passengers' preferences. We study the domestic airline travel in Nepal to create a utility function for it and compare the performance of one airline with other competing airlines. The model is based on the logarithmic goal programming model and multiple criteria decision-making. This development also provides a unique opportunity to compare utility functions for airline travel across India and Nepal, two neighbouring countries with different socio-economical setups.
{"title":"Utility function for airline travel in Nepal and its comparison with India","authors":"Sumeetha Natesan, Chhaya Singh, Goutam Dutta","doi":"10.1504/IJRM.2019.10019731","DOIUrl":"https://doi.org/10.1504/IJRM.2019.10019731","url":null,"abstract":"The competition in the airline market provides an airline passenger with ample open choices to evaluate before finalising a travel decision. The final travel decision is an outcome of a consideration of multiple parameters. In the last decade, Nepal has witnessed impressive growth in international and domestic air traffic, which in turn has led to a growth in tourism in Nepal. It has, therefore, become crucial for competing airlines in Nepal to monitor their services and align the same with respect to airline passengers' preferences. We study the domestic airline travel in Nepal to create a utility function for it and compare the performance of one airline with other competing airlines. The model is based on the logarithmic goal programming model and multiple criteria decision-making. This development also provides a unique opportunity to compare utility functions for airline travel across India and Nepal, two neighbouring countries with different socio-economical setups.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41834380","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 : 2019-10-11DOI: 10.1504/ijrm.2019.103049
L. Eng, Thanyaluk Vichitsarawong
This case study examines the revenue and profitability of two competing airline companies - AirAsia (a low-cost carrier) and Malaysia Airlines (a legacy carrier) - over the period 2001 to 2013. After AirAsia entered the market, the revenue passenger kilometre and available seat kilometre of Malaysia Airlines declined in the mid-period (2005-2009). AirAsia had an increasing trend of revenue passenger kilometre and available seat kilometre over time, suggesting the successful strategy of a low-cost carrier. AirAsia had higher return on equity and return on assets than Malaysia Airlines. However, it had lower revenue per available seat kilometre than Malaysia Airlines, probably due to lower fares. The findings indicate that the financial and operating performance of the legacy carrier, Malaysia Airlines was affected by the entry of a low-cost carrier, AirAsia.
{"title":"Competition and profits in the airline industry: the case of AirAsia and Malaysia Airlines","authors":"L. Eng, Thanyaluk Vichitsarawong","doi":"10.1504/ijrm.2019.103049","DOIUrl":"https://doi.org/10.1504/ijrm.2019.103049","url":null,"abstract":"This case study examines the revenue and profitability of two competing airline companies - AirAsia (a low-cost carrier) and Malaysia Airlines (a legacy carrier) - over the period 2001 to 2013. After AirAsia entered the market, the revenue passenger kilometre and available seat kilometre of Malaysia Airlines declined in the mid-period (2005-2009). AirAsia had an increasing trend of revenue passenger kilometre and available seat kilometre over time, suggesting the successful strategy of a low-cost carrier. AirAsia had higher return on equity and return on assets than Malaysia Airlines. However, it had lower revenue per available seat kilometre than Malaysia Airlines, probably due to lower fares. The findings indicate that the financial and operating performance of the legacy carrier, Malaysia Airlines was affected by the entry of a low-cost carrier, AirAsia.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1504/ijrm.2019.103049","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46302233","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 : 2019-10-11DOI: 10.1504/ijrm.2019.103033
Katarina Poldrugovac, S. Janković, M. Peršić
Currently, the camping industry is responsive to the pricing performance of their competitors. When considering the pricing strategies of the campsite business, competitors should be taken into account as an important factor. The purpose of this research is to assess the possibilities of competitive pricing in the camping industry and examine the effect of competitor pricing levels on relative campsite revenue, to define whether raising or lowering prices relative to the competition contributes more to performance. The paper explores the relationship between pricing strategy and the average percentage difference in revenue per available capacity and occupancy for 32 campsites, relative to their competitive sets, over a period of three years. The result shows that lowering the prices will give campsites higher occupancy rates but consequently lower performance measured by revenue per available capacity.
{"title":"The significance of competitive pricing and revenue management in the camping industry","authors":"Katarina Poldrugovac, S. Janković, M. Peršić","doi":"10.1504/ijrm.2019.103033","DOIUrl":"https://doi.org/10.1504/ijrm.2019.103033","url":null,"abstract":"Currently, the camping industry is responsive to the pricing performance of their competitors. When considering the pricing strategies of the campsite business, competitors should be taken into account as an important factor. The purpose of this research is to assess the possibilities of competitive pricing in the camping industry and examine the effect of competitor pricing levels on relative campsite revenue, to define whether raising or lowering prices relative to the competition contributes more to performance. The paper explores the relationship between pricing strategy and the average percentage difference in revenue per available capacity and occupancy for 32 campsites, relative to their competitive sets, over a period of three years. The result shows that lowering the prices will give campsites higher occupancy rates but consequently lower performance measured by revenue per available capacity.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1504/ijrm.2019.103033","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48258721","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 : 2018-11-30DOI: 10.1504/IJRM.2018.10017709
Abimelech Paye Gbatu, Zhen Wang, Presley K. Wesseh, Vamuyan A. Sesay
We employed fixed effects model to study the influences of natural resource windfalls and some variables on African economic development. For each growth model, equations were estimated for the full panel, and for the samples with good and bad institutional structures. The outcomes show that resource curse exists in Africa and can be explained by Africa's lack of good institutional structures. Hence, an implication of the results is that good institutions promote economic growth but bad institutions destroy an economy. Therefore, we first recommend the need to improve institutional quality in Africa. Second, the challenge of attaining rapid and sustainable growth and development requires Africans to strengthen and re-enforce anti-corruption laws that could discourage the further spread of corruption. Third, policymakers should ensure short-and-long term opportunities of diversifying the economy by engaging in agriculture, transportation, and services.
{"title":"Natural resource windfalls and economic growth nexus: a panel analysis for Africa","authors":"Abimelech Paye Gbatu, Zhen Wang, Presley K. Wesseh, Vamuyan A. Sesay","doi":"10.1504/IJRM.2018.10017709","DOIUrl":"https://doi.org/10.1504/IJRM.2018.10017709","url":null,"abstract":"We employed fixed effects model to study the influences of natural resource windfalls and some variables on African economic development. For each growth model, equations were estimated for the full panel, and for the samples with good and bad institutional structures. The outcomes show that resource curse exists in Africa and can be explained by Africa's lack of good institutional structures. Hence, an implication of the results is that good institutions promote economic growth but bad institutions destroy an economy. Therefore, we first recommend the need to improve institutional quality in Africa. Second, the challenge of attaining rapid and sustainable growth and development requires Africans to strengthen and re-enforce anti-corruption laws that could discourage the further spread of corruption. Third, policymakers should ensure short-and-long term opportunities of diversifying the economy by engaging in agriculture, transportation, and services.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"10 1","pages":"326-344"},"PeriodicalIF":0.0,"publicationDate":"2018-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46486296","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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