| 1. |
- Bozkaya, Burcin, et al.
(författare)
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Premium e-grocery : exploring value in logistics integrated service solutions
- 2009
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Ingår i: Paper presented at the International Conference for Prospects for Research in Transport and Logistics on a Regional – Global Perspective, Istanbul, Turkey, February 12-14, 2009. - : Elsevier.
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Konferensbidrag (refereegranskat)abstract
- E-grocery is gradually becoming viable or a necessity for many families. Yet, most e-supermarkets are seen as providers of low value “staple” and bulky goods mainly. While each store has a large number of SKU available, these products are mainly necessity goods with low marginal value for hedonistic consumption. A need to acquire diverse products (e.g., organic), premium priced products (e.g., wine) for special occasions (e.g., anniversary, birthday), or products just for health related reasons (e.g., allergies, diabetes) are yet to be served via one-stop e-tailers. In this paper, we design a mathematical model that takes into account consumers’ geo-demographics and multi-product sourcing capacity for creating critical mass and profit. Our mathematical model is a variant of Capacitated Vehicle Routing Problem with Time Windows (CVRPTW), which we extend by adding intermediate locations for trucks to meet and exchange goods. We illustrate our model for the city of Istanbul using GIS maps, and discuss its various extensions as well as managerial implications.
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| 2. |
- Casula Vifell, Åsa, 1976-
(författare)
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Speaking with forked tongues : Swedish public administration and the European employment strategy
- 2009
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Ingår i: European Integration Online Papers. - : Elsevier BV. - 1027-5193. ; 13:july 7
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Tidskriftsartikel (refereegranskat)abstract
- The aim of this paper is to understand how decision making processes within the EU comes to affect the structures for national policy making within the employment field. The paper addresses the question of how the process of writing new employment guidelines for the EES – European employment strategy, has affected the work of the Swedish public administration. Through applying a neo-institutionalist perspective, it contributes to the understanding of effects that the increased embededness of states, often characterized as Europeanization, invoke on national administrations. I argue that the way the process has been managed can be analyzed from an organizational perspective where conflicting demands on the Swedish state has led to a certain organization of the work activities. On the one hand, Swedish representatives have to act according to the norms of the European cooperation in order to be seen as a legitimate actor. On the other hand, EU and European influence on Swedish employment policy is not a legitimate concept at national level. In order to satisfy these two seemingly incompatible demands the organizing principle of decoupling is being used to create space for maneuvering for the administration. However, through participation at EU-level organizational identities are partly transformed which in time leads to a situation where changed practices are not met by changes in formal structures. As a consequence the Swedish representatives are in a manner ‘speaking with forked tongue’ and obscuring the new way in which policy making is conducted thus introducing democratic shortcomings in terms of transparency and accountability.
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| 3. |
- Celebi, Dilay, et al.
(författare)
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Multi criteria classification for spare parts inventory
- 2008
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Ingår i: Paper presented at the 38th Computer and Industrial Engineering Conference, Beijing, China, October 31-November 2, 2008. - : Elsevier BV. ; , s. 1780-1787
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Konferensbidrag (refereegranskat)abstract
- Maintenance operations directly influence the performances of railway vehicles and play a crucial role in railway services to provide uninterrupted and high quality service to passengers. With the exception of preventive activities, the demand of spare parts for maintenance tasks is usually random; hence, the fast and secure management of the spare parts inventory is an important factor for the successful execution of the maintenance process. The purpose of this research is to extend the classical ABC analysis by developing a multi-criteria inventory classifi- cation approach for supporting the planning and designing of a maintenance system. Relevant classification criteria and control characteristics of maintenance spare parts are identified and selected and discussed in terms of their effects on maintenance operations, purchasing characteristics, positioning of materials, responsibility of control, and control principles.
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| 4. |
- de Kervenoael, Ronan, et al.
(författare)
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Adopting the experiential values propositions as e-atmospherics : an illustration through the case of e-banking
- 2008
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Ingår i: Paper presented at the 15th International EIRASS Conference on recent advances in Retailing and Services Science (EIRASS), Zagreb, Croatia, July 14-17, 2008. - : Elsevier BV.
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Konferensbidrag (refereegranskat)abstract
- For a couple of years now, the Columbia Business School and in particular Bernd Schmitt have been advocating for more work to be done regarding 'experiential marketing'. Taking the case of e-atmospherics in Turkish e-banking practices, we revisit the theory of strategic experiential modules which are sense, feel, think, act and relate. Two major ebanking experience providers' types of communication, product design, retail presence and epresence have been unpacked. These are Garanti Bank, who's known with its many award winning web site, and Akbank who has a standard web site. The Turkish banking at the border of the EU and under global influences has expended and liberalized dramatically over the last decade making the most of new technologies, hence offering an interesting perspective in a non-homogenous society where the technological divide remains important. First a qualitative content analysis of both bank's homepages is conducted. This is followed by 43 online surveys, where 18 is Garanti Bank consumer, 19 is Akbank consumer and 6 is both Garanti and Akbank consumer, to explore how e-atmospherics experiential features currently recognized by users. Our findings indicate that experiential marketing in e-banking can be expected to be the key to greater online migration of consumers and differentiation among the players. Yet, while the first two steps sense and feel are explicitly developed by both players, act and relate still remain poor. Moreover, 'think' is discovered to be a key moderator where both banks seem to lack clear strategy.
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| 5. |
- de Kervenoael, Ronan, et al.
(författare)
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‘It’s in Her Eyes’ A ‘barometer’ for EU accession through female perceptions of role portrayals in advertising : a crosscultural study of Ukraine and Turkey
- 2007
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Ingår i: Paper presented at the 36th European Marketing Academy (EMAC) Conference, Reykjavik, Iceland, May 25-27, 2007. - : Elsevier BV.
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Konferensbidrag (refereegranskat)abstract
- This article examines female response to gender role portrayals in advertising for Ukraine and Turkey. Being both new potential EU candidates, we argue that gender stereotype could also be used as a ‘barometer’ of progress and closure towards a more generally accepted EU behaviour against women. While their history remains different, both from a political and society values point of views, constraints are currently being faced that require convergence or justification of practices and understanding. Principal components analysis is employed over 290 questionnaires to identify the underlying dimensions. Results indicate overall similarities in perceptions, fragmentation within groups, but seem to provide divergence regarding thresholds.
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| 6. |
- Farooqi Lind, Raana
(författare)
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The Capital Structure of Groups and Group Affiliated Firms
- 2006
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Ingår i: SSRN Electronic Journal. - : Elsevier BV. - 1556-5068.
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- This paper compares the capital structure of groups and group-affiliated firms to that of stand-alone firms by utilizing a sample of Swedish firms for the years 1997-1999. The characteristics that are peculiar to groups and group-affiliated firms, especially their access to internal capital markets, imply different agency and information costs relative to stand-alone firms. In addition, groups have tools to reduce taxes not available to stand-alone firms. Since agency and information costs as well as firms’ ability to utilize the debt tax shields affect the choice of capital structure, it follows that one should observe differences in the way groups (and group-affiliated firms) choose their capital structure relative to stand-alone firms. This paper therefore empirically addresses three questions. Is the leverage of groups (as a whole) different from that of stand-alone firms? Is the determination of the leverage of group-affiliated firms different from that of stand-alone firms? And finally, what is the effect of intra-group borrowing on group-affiliated firms’ level of external debt? The contention is that the group form of organization significantly affects the capital structure choices of firms. Due to the presence of countervailing forces it is not possible ex ante to predict the sign of the difference in leverage levels between groups and stand-alone firms. In addition, I expect to find differences in the way the leverage of group-affiliated firms (which is also influenced by group-wide factors) is determined compared to stand-alone firms. In particular, I expect a number of firm level factors to be less important in determining the leverage of group-affiliated firms. Finally, it is expected that the existence of high levels of intra-group debt leads to lower levels of external debt, either because the internal markets substitute for external debt or because high levels of intra-group debt imply lower transparency and higher complexity, making it difficult for debt providers to judge the motives of the borrowing firms. I find evidence of all of the above in the analysis.
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| 7. |
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| 8. |
- Hasseltoft, Henrik
(författare)
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The “Fed-model” and the Changing Correlation of Stock and Bond Returns : An Equilibrium Approach.
- 2009
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Ingår i: SSRN Electronic Journal. - : Elsevier BV. - 1556-5068.
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- This paper presents an equilibrium model that provides a rational explanation for two features of data that have been considered puzzling: The positive relation between US dividend yields and nominal interest rates, often called the Fed-model, and the time-varying correlation of US stock and bond returns. Key ingredients are time-varying first and second moments of consumption growth, inflation, and dividend growth in conjunction with Epstein-Zin and Weil recursive preferences. Historically in the US, inflation has signaled low future consumption growth. The representative agent therefore dislikes positive inflation shocks and demands a positive risk premium for holding assets that are poor inflation hedges, such as equity and nominal bonds. As a result, risk premiums on equity and nominal bonds comove positively through their exposure to macroeconomic volatility. This generates a positive correlation between dividend yields and nominal yields and between stock and bond returns. High levels of macro volatility in the late 1970s and early 1980s caused stock and bond returns to comove strongly. The subsequent moderation in aggregate economic risk has brought correlations lower. The model is able to produce correlations that can switch sign by including the covariances between consumption growth, inflation, and dividend growth as state variables.
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| 9. |
- Hinnerich, Mia
(författare)
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Pricing Equity Swaps in an Economy with Jumps
- 2005
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Ingår i: SSRN Electronic Journal. - : Elsevier BV. - 1556-5068.
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- This article considers the pricing of equity swaps with constant notional principal in an incomplete market. The market is driven by a general marked point process as well as by a standard multidimensional Wiener process. We derive the swap values using martingale methods and the technique of convexity correction. Our results are consistent with the results of LiaoXX1Wang (2003), but achieved in a different way, which enables us to extend their generalized formula for pricing equity swaps to the point process case.
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| 10. |
- Murgoci, Agatha
(författare)
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Vulnerable options and good deal bounds : structural model
- 2009
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Ingår i: SSRN Electronic Journal. - : Elsevier BV. - 1556-5068.
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- We price vulnerable options - i.e. options where the counterparty may default. These are basically options traded on the OTC markets. Default is modeled in a structural framework. The technique employed for pricing is Good Deal Bounds. The method imposes a new restriction in the arbitrage free model by setting upper bounds on the Sharpe ratios of the assets. The potential prices which are eliminated represent unreasonably good deals. The constraint on the Sharpe ratio translates into a constraint on the stochastic discount factor. Thus, one can obtain tight pricing bounds. We provide a link between the objective probability measure and the range of potential risk neutral measures which has an intuitive economic meaning. We also provide tight pricing bounds for European calls and show how to extend the call formula to pricing other financial products in a consistent way. Specific examples for exchange options and barrier options are computed. Finally, we analyze numerically the behaviour of the good deal pricing bounds interval and analyze the factors that impact its size.
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| 11. |
- Olsson, Rickard, 1969-
(författare)
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Implications of constant growth of abnormal earnings in perpetuity for equity premia, discount rates, earnings, dividends, book values and key financial ratios : an extension of Claus and Thomas
- 2005
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Ingår i: SSRN Electronic Journal. - : Social Science Electronic Publishing, Inc.. - 1556-5068.
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- We derive analytical formulas for the post-horizontal and asymptotic behavior of earnings, dividends, book value, and key financial ratios, as implied by the terminal value model of constant perpetual abnormal earnings growth. The implications of Claus and Thomas (2001) (CT) abnormal earnings growth forecasts for these quantities are examined and found reasonable. Analysis of the implicit functional relationships between the equity premium and the aforesaid quantities using CT's U.S. data reveals that a traditional premium of 8% implies 14% asymptotic growth in abnormal earnings, earnings, dividends and book value, and equally extreme asymptotic return-on-equity, price-to-earnings and price-to-book ratios.
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| 12. |
- Ozturkcan, Selcen
(författare)
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Identification in hyper-loyalty brand communities
- 2005
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Ingår i: Paper presented at the 2nd Annual Management Congress at Mugla University, Mugla, Turkey, February 17, 2005. - : Elsevier BV.
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Konferensbidrag (refereegranskat)abstract
- For decades, marketers sought "the strategy" for building brand loyalty. When they succeeded in achieving extreme brand loyalty with customers, marketers simply followed the same template for other products and brands without bothering to examine the deeper, phenomenological processes involved with such loyal consumer behavior. Extreme brand loyalty can be thought of as consumer communities (Muniz & O'Guinn, 2001) created around and directed by particular brands--hyperloyalty as defined by McAlexander and Schouten (1998), and Ebstein, Betou, Storakers and Torner (1999). It is critical to comprehend the underlying motives that exist in the marketplace for longterm sustained competitive advantage. Hunt (2002) states that effectiveness and efficiency are the keys for advantageous resources, but are these two criteria sufficient for a full and complete understanding of consumer hyper-loyalty?
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