Template-Type: ReDIF-Article 1.0
Author-Name: Xi Tian
Author-X-Name-First: Xi
Author-X-Name-Last: Tian
Author-Name: Tao Yang
Author-X-Name-First: Tao
Author-X-Name-Last: Yang
Author-Name: T. Robert Yu
Author-X-Name-First: T. Robert
Author-X-Name-Last: Yu
Title: Real earnings management in family firms: evidence from Chinese listed firms
Abstract:
Using a large sample of Chinese family firms and nonfamily firms, we examine whether family ownership is associated with higher or lower levels of real earnings management (REM). On the basis of the agency and stewardship theories, we develop two competing hypotheses. Our findings are consistent with the prediction of the stewardship theory that family firms engage in lower levels of real activities manipulation relative to nonfamily firms. Specifically, family businesses are less likely to accelerate sales, over-produce, cut discretionary expenditures, or engage in more than one real activities manipulation. In our analyses, we control for a number of firm properties and fixed effects. Further analysis suggests that the negative association between family ownership and real activities manipulation is more prominent for young family firms than for mature family firms. Our results are robust to different measures of family firms, alternative measures of REM, and potential endogeneity.
Journal: Int. J. of Revenue Management
Pages: 77-106
Issue: 2
Volume: 10
Year: 2018
Keywords: real earnings management; REM; agency theory; stewardship theory; family firm; family business; Chinese listed firms.
File-URL: http://www.inderscience.com/link.php?id=91814
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Handle: RePEc:ids:ijrevm:v:10:y:2018:i:2:p:77-106

Template-Type: ReDIF-Article 1.0
Author-Name: Che Cheong Poon
Author-X-Name-First: Che Cheong
Author-X-Name-Last: Poon
Author-Name: Tak Man Anna Lisa Lee
Author-X-Name-First: Tak Man Anna Lisa
Author-X-Name-Last: Lee
Title: The profitability of just-cut barbershops: a case study of QB HOUSEs in Hong Kong
Abstract:
The process innovation of QB HOUSEs has made them outweigh the traditional barbershops. It significantly reduces both money cost and time cost on the customer side, and enables a smart increase in total revenue together with a decrease in average total cost at the firm side. The marketing slogan of "HK$60 for a just-cut of 10 minutes" captured the heart of the fast-paced Hong Kong people, and the just-cut barbershop industry has grown rapidly in the past decade. By using data and information collected by field observations and interviews, this study identified the keys leading to QB HOUSEs' success in Hong Kong. It also points out that although the market of just-cut barbershops has not yet saturated, further enhancement in service quality and marketing strategies are needed for sustainable growth.
Journal: Int. J. of Revenue Management
Pages: 107-119
Issue: 2
Volume: 10
Year: 2018
Keywords: process innovation; qualitative research; blue ocean strategy; monopolistic competition; market saturation.
File-URL: http://www.inderscience.com/link.php?id=91832
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Handle: RePEc:ids:ijrevm:v:10:y:2018:i:2:p:107-119

Template-Type: ReDIF-Article 1.0
Author-Name: Shiou-Yu Chen
Author-X-Name-First: Shiou-Yu
Author-X-Name-Last: Chen
Title: Typology of life insurance consumers: a Q-methodological study
Abstract:
Life insurance has played an essential role of safeguarding the interest of people from loss and uncertainty, hence understanding the range of changing motivations and preferences of life insurance purchasing behaviours is a key challenge for both the insurance companies and the government. Extant research has identified many factors that affect the life insurance purchasing behaviours objectively, yet relative little dealt with consumers 'subjectivity toward their life insurance purchasing behaviour. This study adopted an in-depth methodology that incorporates both the quantitative and qualitative methods called Q-methodology to investigate life insurance purchasing behaviour among consumers particularly in Taiwan. The analysis revealed five main types of life insurance consumers: financial planning, family care, social value, life planning, and future prospects. The results provided some implications and guidance for formulating national policies, as well as effective strategies for improving the competitiveness of the insurance companies and the government.
Journal: Int. J. of Revenue Management
Pages: 120-134
Issue: 2
Volume: 10
Year: 2018
Keywords: life insurance consumers; Q-methodology; typology; life insurance purchasing behaviour.
File-URL: http://www.inderscience.com/link.php?id=91833
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Handle: RePEc:ids:ijrevm:v:10:y:2018:i:2:p:120-134

Template-Type: ReDIF-Article 1.0
Author-Name: Jehangir Bharucha
Author-X-Name-First: Jehangir
Author-X-Name-Last: Bharucha
Title: Economics is learnt in the family: revaluing family influence on financial behaviour in India
Abstract:
Family economics primarily studies the influence of the family on consumption and investment behaviour through the generations. Research has clearly shown that the family should be the source for most of a youth's financial knowledge. This study attempts to fill a gap as scant literature is available on the influence of the family on financial behaviour of the youth in India. The interviews were largely administered in person and in a few cases through an email or on the phone. The results show that only 34% of parents were having discussions with their offsprings on financial planning and 42% of the respondents felt they were 'aware and educated enough' to impart financial training to their offsprings. 25% of the parents admitted to their lack of financial knowledge. Family involvement in financial education programs is not at all well developed in India. The study gives several recommendations in this regard.
Journal: Int. J. of Revenue Management
Pages: 135-145
Issue: 2
Volume: 10
Year: 2018
Keywords: financial education; family; young consumers; savings; role models.
File-URL: http://www.inderscience.com/link.php?id=91835
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Handle: RePEc:ids:ijrevm:v:10:y:2018:i:2:p:135-145

Template-Type: ReDIF-Article 1.0
Author-Name: Wing-Keung Wong
Author-X-Name-First: Wing-Keung
Author-X-Name-Last: Wong
Author-Name: Sheung-Chi Chow
Author-X-Name-First: Sheung-Chi
Author-X-Name-Last: Chow
Author-Name: Tai-Yuen Hon
Author-X-Name-First: Tai-Yuen
Author-X-Name-Last: Hon
Author-Name: Kai-Yin Woo
Author-X-Name-First: Kai-Yin
Author-X-Name-Last: Woo
Title: Empirical study on conservative and representative heuristics of Hong Kong small investors adopting momentum and contrarian trading strategies
Abstract:
Recently, a new Bayesian approach has been developed to explain some market anomalies. In this paper, we conduct a questionnaire survey to examine whether the theory holds empirically by studying the conservative and representative heuristics by Hong Kong small investors who adopt momentum and/or contrarian trading strategies. In addition, our study provides evidence for the small investors on their time horizon and risk tolerance when facing uncertainty in their investments. Our findings are useful to small investors in their investment decision making and useful to financial advisors in providing service to small investors.
Journal: Int. J. of Revenue Management
Pages: 146-167
Issue: 2
Volume: 10
Year: 2018
Keywords: conservative and representative heuristics; momentum and contrarian trading strategies.
File-URL: http://www.inderscience.com/link.php?id=91836
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Handle: RePEc:ids:ijrevm:v:10:y:2018:i:2:p:146-167

Template-Type: ReDIF-Article 1.0
Author-Name:  Nurharjanto
Author-X-Name-First: 
Author-X-Name-Last: Nurharjanto
Author-Name: Tulus Haryono
Author-X-Name-First: Tulus
Author-X-Name-Last: Haryono
Author-Name: Djoko Suhardjanto
Author-X-Name-First: Djoko
Author-X-Name-Last: Suhardjanto
Author-Name: Niki Lukviarman
Author-X-Name-First: Niki
Author-X-Name-Last: Lukviarman
Author-Name: Erna Setiany
Author-X-Name-First: Erna
Author-X-Name-Last: Setiany
Title: Corporate governance, privatisation, and financial performance of Indonesian state-owned enterprises
Abstract:
This study aimed to investigate the effect of corporate governance (CG) to state-owned enterprises (SOEs) performance before and after privatisation. The data consisted of primary data obtained through questionnaires, followed by focus group, and secondary data sourced from published annual reports of SOEs. This research gathered 94 observations of firm-year of SOEs listed in Indonesia. Multiple linear regression was employed to analyse the effect of the CG index on the financial performance, and paired sample t-test to test the performance before and after privatisation. The result shows that the CG index has a positive effect on the financial performance of SOEs. Furthermore, SOEs exhibited improved financial performance after privatisation. Accordingly, the government of Indonesia should selectively choose SOEs for privatisation to achieve the optimum results of privatisation in accordance with the priorities imposed by the government as the primary owner.
Journal: Int. J. of Revenue Management
Pages: 168-188
Issue: 2
Volume: 10
Year: 2018
Keywords: corporate governance; financial performance; privatisation; state owned enterprises.
File-URL: http://www.inderscience.com/link.php?id=91858
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Handle: RePEc:ids:ijrevm:v:10:y:2018:i:2:p:168-188

Template-Type: ReDIF-Article 1.0
Author-Name: Tsung-Hsun Lu
Author-X-Name-First: Tsung-Hsun
Author-X-Name-Last: Lu
Title: Can profit targets improve the profitability of candlestick charting?
Abstract:
This study proposes a different way to implement candlestick trading rules. Applying profit targets to the PHLX semiconductor sector index (SOX) component stocks from 1992 to 2016, the author found two 3-day candlestick patterns can earn over 1% profit, after considering transaction costs and the data-snooping problem. This profit target approach thus provides an alternative way for investors to decide on which day to exit the market.
Journal: Int. J. of Revenue Management
Pages: 216-226
Issue: 3/4
Volume: 10
Year: 2018
Keywords: candlestick charting; profit target; SOX component stocks.
File-URL: http://www.inderscience.com/link.php?id=96307
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Handle: RePEc:ids:ijrevm:v:10:y:2018:i:3/4:p:216-226

Template-Type: ReDIF-Article 1.0
Author-Name: Mac Darlington Uche Onuoha
Author-X-Name-First: Mac Darlington Uche
Author-X-Name-Last: Onuoha
Author-Name: Mijwok Opec Amaykway
Author-X-Name-First: Mijwok Opec
Author-X-Name-Last: Amaykway
Author-Name: Menglan Duan
Author-X-Name-First: Menglan
Author-X-Name-Last: Duan
Author-Name: Henry Okafor Elochukwu
Author-X-Name-First: Henry Okafor
Author-X-Name-Last: Elochukwu
Author-Name: Peifang Yang
Author-X-Name-First: Peifang
Author-X-Name-Last: Yang
Title: A proposed PSC fiscal regime for South Sudan's oil market: a new model harmonising contractor's and government's NPVs
Abstract:
Investment decision of any company is depended on the economic benefits accruable from such project and to what rate its returns on investment would be. Economic evaluation of project's feasibility is largely based on NPV estimation which involves the discounting of future earnings to present and then, finding the net value to ascertain the present worth of the project and how much it could increase the company's share value. This paper presents a study on the impact of production sharing formula on the contractor's and government's net present values (NPVs) by using the production sharing contract (PSC) of four different countries: Malaysia, Indonesia, Brunei and South Sudan. Result reveals the significant influence of PSC regimes on project's NPV and a new PSC term is proposed to South Sudanese government that will increase its NPV to 13.4% and that of the contractor to 0.434% as against the current regime.
Journal: Int. J. of Revenue Management
Pages: 227-258
Issue: 3/4
Volume: 10
Year: 2018
Keywords: PSC; production sharing contract; NPV; net present value; MROR; minimum rate of return; internal rate of return; payback period; sensitivity analysis.
File-URL: http://www.inderscience.com/link.php?id=96317
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Handle: RePEc:ids:ijrevm:v:10:y:2018:i:3/4:p:227-258

Template-Type: ReDIF-Article 1.0
Author-Name: Harish V. Rao
Author-X-Name-First: Harish V.
Author-X-Name-Last: Rao
Author-Name: Goutam Dutta
Author-X-Name-First: Goutam
Author-X-Name-Last: Dutta
Author-Name: Sankarshan Basu
Author-X-Name-First: Sankarshan
Author-X-Name-Last: Basu
Title: New asset liability management model with decision support system for life insurance companies: interface design issues for database and mathematical models
Abstract:
We introduce a new asset liability management (ALM) model based on decision support system (DSS) for a life insurance firm. The DSS is based on multi-stage stochastic linear programming (SLP) with recourse for strategic planning. The model can be used with minimal knowledge of management sciences. The model maximises the expected value of total reserve (policy holders' reserve and shareholders' reserve) at the end of the time period of planning with constraints both on the asset and the liability side of the firm's balance sheet. We discuss issues related to DSS interface design, one to one correspondences between the SLP model and the database and the difficulty in multi stage DSS compared to two stage DSS. We also compare and contrast the similarities and differences with our earlier work on SLP based DSS for process industries.
Journal: Int. J. of Revenue Management
Pages: 259-289
Issue: 3/4
Volume: 10
Year: 2018
Keywords: DSS; decision support system; stochastic optimisation; financial institutions; strategic planning; ALM; asset liability management; insurance.
File-URL: http://www.inderscience.com/link.php?id=96319
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Handle: RePEc:ids:ijrevm:v:10:y:2018:i:3/4:p:259-289

Template-Type: ReDIF-Article 1.0
Author-Name: Daniel L. Rust
Author-X-Name-First: Daniel L.
Author-X-Name-Last: Rust
Author-Name: L. Douglas Smith
Author-X-Name-First: L. Douglas
Author-X-Name-Last: Smith
Author-Name: Dana L. Ryan
Author-X-Name-First: Dana L.
Author-X-Name-Last: Ryan
Author-Name: Juan Zhang
Author-X-Name-First: Juan
Author-X-Name-Last: Zhang
Title: The other side of revenue management: managing airport infrastructure and airside operations
Abstract:
Revenue management has roots in the marketing of US airline passenger service following the deregulation of the industry in 1978. The business model is largely credited for opening opportunities to low-cost air travel worldwide, but condemned for deleterious effects on service and increased costs to consumers in many markets as industry consolidation occurred and airlines redesigned route and fare structures competitively. In this paper, we discuss the challenges of 'right-sizing' airport infrastructure and managing airside operations effectively in response to airlines' revenue-management practices. An historical review of dramatic changes at St. Louis Lambert International Airport will highlight motivations and risks of large capital expenditures and related revenues. A new analytical model to support adaptive airport planning and management is presented for non-financial measures of airside performance affected by airline revenue-management practices.
Journal: Int. J. of Revenue Management
Pages: 189-215
Issue: 3/4
Volume: 10
Year: 2018
Keywords: airport revenue management; airport capacity planning; airport traffic management.
File-URL: http://www.inderscience.com/link.php?id=96321
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Handle: RePEc:ids:ijrevm:v:10:y:2018:i:3/4:p:189-215

Template-Type: ReDIF-Article 1.0
Author-Name: Ilyoung Jung
Author-X-Name-First: Ilyoung
Author-X-Name-Last: Jung
Author-Name: Imsu Park
Author-X-Name-First: Imsu
Author-X-Name-Last: Park
Author-Name: Jeong Hoon Choi
Author-X-Name-First: Jeong Hoon
Author-X-Name-Last: Choi
Title: Examining the performance index of retail pricing strategies under different types of competition
Abstract:
This study aims to measure and compare the efficiency of two pricing strategies of retail chains, a Hi-Lo pricing strategy and an everyday low price (EDLP) strategy, according to different types of competition. This research suggests the speed of price adjustment approach to measure the efficiency of retail chains, and the nonlinear seemingly unrelated regression estimation captures the impacts of market competition. The findings suggest that, in highly competitive markets, the Hi-Lo chains show a greater speed of price adjustment, whereas a slower speed is shown in less concentrated markets. In particular, the Hi-Lo chains in the market leader position with the EDLP followers show that the speed of price adjustment is slower than in other markets. When Hi-Lo chains compete with each other in the same market, they offer price discounts more aggressively and adjust the price rapidly as a means to maintain their market position.
Journal: Int. J. of Revenue Management
Pages: 290-325
Issue: 3/4
Volume: 10
Year: 2018
Keywords: retail competition; retail pricing strategies; the price adjustment model; nonlinear SUR estimation.
File-URL: http://www.inderscience.com/link.php?id=96326
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Handle: RePEc:ids:ijrevm:v:10:y:2018:i:3/4:p:290-325

Template-Type: ReDIF-Article 1.0
Author-Name: Abimelech Paye Gbatu
Author-X-Name-First: Abimelech Paye
Author-X-Name-Last: Gbatu
Author-Name: Zhen Wang
Author-X-Name-First: Zhen
Author-X-Name-Last: Wang
Author-Name: Presley K. Wesseh Jr.
Author-X-Name-First: Presley K. Wesseh
Author-X-Name-Last: Jr.
Author-Name: Vamuyan A. Sesay
Author-X-Name-First: Vamuyan A.
Author-X-Name-Last: Sesay
Title: Natural resource windfalls and economic growth nexus: a panel analysis for Africa
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.
Journal: Int. J. of Revenue Management
Pages: 326-344
Issue: 3/4
Volume: 10
Year: 2018
Keywords: Africa; economic growth; fixed effect model; resource curse; resources windfalls.
File-URL: http://www.inderscience.com/link.php?id=96332
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Handle: RePEc:ids:ijrevm:v:10:y:2018:i:3/4:p:326-344