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Correction to: Reevaluating the RevPASH formula: advancing analytical perspectives in restaurant revenue and yield management 更正:重新评估 RevPASH 公式:推进餐厅收入和收益管理的分析视角
IF 1.6 Q3 BUSINESS, FINANCE Pub Date : 2023-12-11 DOI: 10.1057/s41272-023-00463-5
Melissa C. Kalan
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引用次数: 0
MFRS 15 revenue from contracts with customers: its adoption and the organisational change 财务报告准则第 15 号--与客户签订合同产生的收入:采用与组织变革
IF 1.6 Q3 BUSINESS, FINANCE Pub Date : 2023-12-08 DOI: 10.1057/s41272-023-00451-9
Syazwani ‘Izzati Mohd Fauzi, Mazurina Mohd Ali, Erlane K. Ghani

Recently, the Malaysian Accounting Standards Board has issued several new regulation standards to replace the previous standards for harmonization of financial reporting. One of the new standards is the Malaysian Financial Reporting Standard (MFRS) 15 Revenue from Contracts with Customers. By focusing on the telecommunication company, the objective of this study is to review the impact of MFRS 15 adoption and the organizational change process. This study adopted frameworks by Dillard et al. in (Acc Audit Acc J 17:506–542, 2004) and Burns and Scapen in (Manag Acc Res 11(1):3–25, 2000) to have a better understanding of the organisational change process due to MFRS 15 adoption especially at the intra-organisational level. The findings of this study present a general view on the understanding of the effect of MFRS 15 adoption in which the cause from external pressure leads to the changes in the rules and routines in a telecommunication company. This study will contribute to the existing accounting literature related to MFRS 15 especially within the telecommunication industry.

最近,马来西亚会计准则委员会发布了几项新的监管准则,以取代以前的准则,从而统一财务报告。其中一项新准则是《马来西亚财务报告准则》(MFRS)第 15 条 "与客户签订合同的收入"。本研究以电信公司为重点,旨在审查 MFRS 15 的采用和组织变革过程的影响。本研究采用了 Dillard 等人(Acc Audit Acc J 17:506-542, 2004)以及 Burns 和 Scapen(Manag Acc Res 11(1):3-25, 2000)的研究框架,以更好地理解采用 MFRS 15 所带来的组织变革过程,尤其是在组织内部层面。本研究的结果提出了对采用《财务报告准则第 15 号》的影响的一般理解,即外部压力导致电信公司的规则和常规发生变化。本研究将对与 MFRS 15 相关的现有会计文献做出贡献,尤其是在电信行业。
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引用次数: 0
Airline revenue management with segmented continuous pricing: methods and competitive effects 分段连续定价的航空公司收益管理:方法与竞争效应
IF 1.6 Q3 BUSINESS, FINANCE Pub Date : 2023-12-03 DOI: 10.1057/s41272-023-00462-6
Yanbin Long, Peter Belobaba

With the introduction of IATA’s New Distribution Capability (NDC), airlines will no longer be limited to discrete fare classes for their fare product distribution but could show fare quotes from continuous ranges to booking requests. NDC will also allow airlines to present different fare quotes to passengers from different demand segments as identified by the airline. In theory, airlines can better extract passenger willingness to pay, and thus, see gains in revenue, by offering segmented continuous fare quotes to different passengers requesting to book. This paper describes the revenue management (RM) methods for Segmented Continuous Pricing and examines their potential effects on airlines’ revenue through simulations in the Passenger Origin–Destination Simulator (PODS). We describe a class-based algorithm for continuous pricing, a straightforward extension from the traditional methods used with existing RM systems. Our simulation results show that in a calibrated scenario in which only one airline adopts Segmented Continuous Pricing and has an 80% accuracy in identifying business versus leisure passenger booking requests, the first-mover airline can see as much as a 17% revenue gain, at the expense of competitors. The revenue gains come primarily from the leisure passenger segment by offering lower fares than competitors closer to departure. The first-mover airline loses bookings but does not see losses in revenue from the business passenger segment. We also explore potential response strategies by the competing airlines. We discover that competitors can reverse the first-mover’s revenue gain by removing their fare restrictions while still using traditional RM methods. We conclude that although adopting Segmented Continuous Pricing is promising in theory, its gains in practice will depend heavily on the competitive situation and the responses made by competing airlines.

随着IATA新分销能力(NDC)的引入,航空公司的机票产品分销将不再局限于离散的票价等级,而是可以显示从连续范围到预订请求的票价报价。NDC还将允许航空公司根据航空公司确定的不同需求段,向乘客提供不同的票价报价。理论上,航空公司可以通过向要求预订的不同乘客提供分段的连续票价报价,更好地提取乘客的付费意愿,从而获得收益。本文介绍了分段连续定价的收益管理方法,并通过乘客始末模拟器(PODS)的仿真研究了这些方法对航空公司收益的潜在影响。我们描述了一种基于类的连续定价算法,这是对现有RM系统中使用的传统方法的直接扩展。我们的模拟结果显示,在一个校准的场景中,只有一家航空公司采用分段连续定价,并且在识别商务和休闲乘客预订请求方面有80%的准确率,先行者航空公司可以获得高达17%的收入增长,而竞争对手则会受到损害。收入增长主要来自休闲旅客市场,因为它提供的票价低于离出发地更近的竞争对手。先行者航空公司损失了预订量,但没有看到商务乘客部分的收入损失。我们还探讨了竞争航空公司可能采取的应对策略。我们发现,竞争对手可以通过取消票价限制来逆转先行者的收入增长,同时仍然使用传统的RM方法。我们得出结论,尽管采用分段连续定价在理论上是有希望的,但其在实践中的收益将在很大程度上取决于竞争形势和竞争航空公司的反应。
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引用次数: 0
The role of exchange rate on hotelier’s pricing decision and business performance: the case of Switzerland, a small open economy 汇率对酒店经营者定价决策和经营绩效的影响:以小型开放经济体瑞士为例
IF 1.6 Q3 BUSINESS, FINANCE Pub Date : 2023-11-28 DOI: 10.1057/s41272-023-00461-7
Isabella Blengini, Cindy Yoonjoung Heo

This study focuses on the role of the exchange rate on hotelier’s pricing decision and business performance. This study explores the way hospitality industry practitioners react to exchange rate fluctuations and monetary policy interventions on the FOREX market. By analyzing monthly performance data of hotels in Switzerland between January 2000 and April 2021, this study finds the presence of two structural breaks in the economy, due, respectively, to the central bank’s intervention on the exchange rate market and to the COVID 19. The findings of this study suggest that hoteliers pay close attention to fluctuations in the exchange rate as well as to monetary policies. These findings should raise individual hoteliers’ awareness about their competitors’ behavior and help them better define their strategic decisions in terms of pricing.

本研究的重点是汇率对酒店经营者的定价决策和经营绩效的作用。本研究探讨了酒店业从业者对外汇市场上汇率波动和货币政策干预的反应方式。通过分析2000年1月至2021年4月瑞士酒店的月度业绩数据,本研究发现经济中存在两种结构性断裂,分别是由于中央银行对汇率市场的干预和COVID - 19。这项研究的结果表明,酒店经营者密切关注汇率波动以及货币政策。这些发现将提高酒店经营者对竞争对手行为的认识,并帮助他们更好地制定定价方面的战略决策。
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引用次数: 0
Elasticity-integrated pricing and allocation heuristic for airline revenue management 航空公司收益管理的弹性集成定价与分配启发式方法
IF 1.6 Q3 BUSINESS, FINANCE Pub Date : 2023-11-19 DOI: 10.1057/s41272-023-00454-6
Aparna Jayaram, R. K. Amit, Amit Agarwal, Xiaodong Luo

Setting the right fares is a key lever for increasing operating profitability in the airline industry. It is crucial to design fares that are both appealing to passengers and contribute to an increase in airline revenue. Although airline revenue management techniques have evolved to capture customer-choice behavior, the pricing and allocation decisions continue to be taken independently. However, since they are linked, a single optimization model can address this shortcoming. This paper presents a joint optimization model (JOM) that considers product prices and their allocation quantities as decision variables. A sequential optimization technique that divides the model into two decision problems is adopted to cope with JOM’s complexity. The problem is divided into a master problem and a sub-problem, wherein product price changes are made in the master problem and, with these fixed prices, optimization is performed in the sub-problem. The sub-problem is solved by simplifying the non-linear JOM into a linear programming problem. The direction of product price changes in the master problem is identified using price elasticity of demand. A heuristic based on this concept is proposed and tested. The Elasticity-integrated Pricing and Allocation Heuristic (EPAH) is observed to produce a consistent increase in existing revenues.

设定合适的票价是提高航空业运营盈利能力的关键杠杆。设计既能吸引乘客又能增加航空公司收入的票价至关重要。尽管航空公司的收益管理技术已经发展到能够捕捉客户的选择行为,但定价和分配决策仍然是独立进行的。然而,由于它们是相互关联的,因此单个优化模型可以解决这个缺点。提出了一个以产品价格及其分配数量为决策变量的联合优化模型(JOM)。为了应对JOM的复杂性,采用了一种将模型分为两个决策问题的顺序优化技术。该问题分为主问题和子问题,其中在主问题中对产品价格进行更改,并在这些固定价格的情况下对子问题进行优化。该子问题通过将非线性JOM简化为线性规划问题来求解。利用需求价格弹性确定了主问题中产品价格变化的方向。在此基础上提出了一种启发式算法并进行了测试。观察到弹性集成定价和分配启发式(EPAH)可以产生持续的现有收入增长。
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引用次数: 0
Equilibrium pricing structure in a differentiated duopoly: uniform vs. two-part pricing 差异化双寡头垄断的均衡定价结构:统一定价与两部分定价
IF 1.6 Q3 BUSINESS, FINANCE Pub Date : 2023-11-18 DOI: 10.1057/s41272-023-00452-8
Taeki Min, Kyung Jin Min, Hyung Jun Kim

This paper investigates the effect of product substitutability on subgame perfect Nash equilibrium pricing structures (Uniform vs. Two-part Pricing) in a duopoly where each firm chooses its pricing policy first and then decides the level of the strategic variables (unit price and fixed fee) associated with the chosen pricing policy to maximize its own profit. Previous studies on two-part pricing in a monopoly situation showed that two-part pricing yields higher profits than uniform pricing, and we show that two-part pricing is also a subgame perfect Nash Equilibrium at all degrees of product substitutability even in a duopoly situation. However, this paper shows that if the degree of substitutability is quite high, uniform pricing can also become a subgame perfect Nash equilibrium strategy, although both firms can afford higher profits if both firms adopt two-part pricing. This paper also shows how the equilibrium unit price and fixed fee change as the product substitutability increases in each pricing structure and how the consumers in the market behave for these prices (purchase none, one of the products, or both). When both firms choose the two-part pricing policy, unit price and fixed fee show distinctive forms of U-shape and inverted U-shape as the substitutability increases, for which we explore the rationale.

本文研究了双寡头市场中产品可替代性对子博弈完美纳什均衡定价结构(统一与两部分定价)的影响。在双寡头市场中,每个企业首先选择自己的定价政策,然后决定与所选择的定价政策相关联的战略变量(单价和固定费用)的水平,以使自己的利润最大化。以往关于垄断情况下的两部分定价的研究表明,两部分定价比统一定价产生更高的利润,并证明了即使在双寡头情况下,两部分定价在产品可替代性的所有程度上也是子博弈的完美纳什均衡。然而,本文表明,当可替代性程度相当高时,统一定价也可以成为子博弈的完美纳什均衡策略,尽管两家企业都采用两部分定价可以获得更高的利润。本文还展示了在每种定价结构中,均衡单价和固定费用如何随着产品可替代性的增加而变化,以及市场消费者对这些价格的行为(不购买,购买其中一种产品,或两者都购买)。当两家企业都选择两部分定价策略时,随着可替代性的增加,单价和固定费用呈现出不同的u型和倒u型形态,并对其理论基础进行了探讨。
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引用次数: 0
Does carbon pricing matter? An exploratory study based on international data 碳定价重要吗?基于国际数据的探索性研究
Q3 BUSINESS, FINANCE Pub Date : 2023-11-11 DOI: 10.1057/s41272-023-00449-3
Praveen Kumar
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引用次数: 0
The weakening pricing power of major brand over private label grocery products: evidence from a Dutch retailer 大品牌对自有品牌杂货产品的定价权减弱:来自一家荷兰零售商的证据
Q3 BUSINESS, FINANCE Pub Date : 2023-11-09 DOI: 10.1057/s41272-023-00458-2
Hao Chen, Alvin Lim
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引用次数: 0
Reevaluating the RevPASH formula: advancing analytical perspectives in restaurant revenue and yield management 重新评估RevPASH公式:提高餐厅收入和收益管理的分析视角
Q3 BUSINESS, FINANCE Pub Date : 2023-11-08 DOI: 10.1057/s41272-023-00446-6
Melissa C Kalan
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引用次数: 0
Transient price setting in the era of automated systems: the ‘hands-on’ hotel general manager lives on! 自动化系统时代的瞬时价格设定:“亲力亲为”的酒店总经理继续存在!
Q3 BUSINESS, FINANCE Pub Date : 2023-11-07 DOI: 10.1057/s41272-023-00447-5
Natalie Haynes, David Egan
Abstract Hotel pricing discussions seem to be increasingly dominated by automated revenue management and pricing systems without considering human interaction. Using grounded theory, this paper foregrounds the voice of twenty managers and exposes the complexities and realities of their involvement in price decision-making. A hybrid price decision-making process was discovered where the hotel general manager remains in control despite automation, due to their modus operandi to control the performance of their hotel by using their local market and customer knowledge in the pricing process. This indicates that for revenue management at hotel unit level there is an often-unseen gap between theory and practice.
酒店定价讨论似乎越来越多地被自动化收入管理和定价系统所主导,而没有考虑到人类的互动。本文运用扎根理论,突出了20位管理者的声音,揭示了他们参与价格决策的复杂性和现实性。我们发现了一种混合价格决策过程,尽管实现了自动化,但酒店总经理仍然掌握着控制权,因为他们在定价过程中使用当地市场和客户知识来控制酒店的业绩。这表明,对于酒店单位层面的收益管理,理论与实践之间往往存在着看不见的差距。
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引用次数: 0
期刊
Journal of Revenue and Pricing Management
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