bluuebunny/crossref_metadata_2025 huggingface dataset:
Building brand loyalty through managing brand community commitment
Authors: Hur Won‐Moo , Ahn Kwang‐Ho , Kim Minsung
Published: August 2011

Purpose

The purpose of this paper is to: analyze the effect of trust and affect toward a brand community on the commitment of brand communities; and investigate the mechanism through which the commitment of a brand community is able to increase various loyalty behaviors (e.g. repurchase intentions, positive word‐of‐mouth, and constructive complaints).

Design/methodology/approach

In order to test the hypotheses, a total of 200 Chinese female online brand community users were sampled, specifically users who had been active in the online brand community for over a year, and Partial Least Squares (PLS) analysis was performed.

Findings

The results identified the significant positive paths: brand community trust → brand community commitment; brand community affect → brand community commitment; and brand community commitment → brand loyalty behaviors. In addition brand community commitment was found to play a mediating role in the relationships between brand community trust/affect and brand loyalty. Finally, brand community commitment was seen to have a stronger effect on word‐of‐mouth than on constructive complaints.

Research limitations/implications

This study demonstrates the need to elaborate the brand community commitment construct. Specifically, attention to the underlying dimensions of commitment should identify more dynamic relationships among trust/affect, brand community commitment, and brand loyalty behaviors.

Practical implications

Marketing executives and brand managers who are considering customer loyalty improvement strategies must understand the value of managing an online brand community effectively. The findings of this study suggest significant ways to increase brand loyalty behaviors, particularly for brands seeking to broaden their appeal in the female Chinese market.

Originality/value

In contrast with the existing studies dealing with community commitment as an attitudinal antecedent of brand loyalty, this study empirically tested the mediating role of community commitment based on Baron and Kenny's logic. Moreover, the mediation was found to have a differential effect, namely a partial mediation for the relationships community trust‐repurchase intention/WOM but a full mediation for the relationship brand community affect‐constructive complaint.
Assembly and Automation Expo highlights innovations in automated assembly
Authors: Bloss Richard
Published: August 2011

Purpose

The purpose of this paper is to review the automated assembly technology at the Assembly and Automation Expo. While assembly is the feature show, it combines with manufacturing of electronics, plastics and medical devices at the same venue.

Design/methodology/approach

In‐depth interviews with exhibitors of automated systems, system integrators as well as suppliers of related components motion elements, laser markers.

Findings

Automated assembly continues to become more flexible, modular, as well as better suited for smaller lot orders and includes more real‐time inspection capabilities.

Originality/value

The paper shows that new products to be assembled are driving those who provide automated assembly systems to create better solutions. These include solutions that are more cost‐effective, faster and include more quality assessment and tracking as part of the automation.
Automatic 3D digital patching for fragmented cultural relics repair
Authors: Li Jun‐Bao , Li Meng , Gao Huijun
Published: August 2011

Purpose

Computer‐aided fragmented cultural relics repair is an effective method instead of manual repair. The purpose of this paper is to provide a 3D digital patching system for computer‐aided cultural relics repair through using the scanned 3D data of fragmented cultural relics. It includes processes and tools that can be effectively used for fragmented cultural relics repair.

Design/methodology/approach

An automatic 3D digital patching for fragmented culture relics repair is designed. The framework includes a surface segmentation based on region dilation, feature extraction based on height‐map, pair matching and multi‐block matching.

Findings

The paper finds that the proposed 3D data patching is an efficient method for fragmented cultural relics repair.

Practical implications

Early and effective planning and implementation of computer‐aided fragmented cultural relics repair can significantly improve the reliability and availability of fragmented cultural relics repair.

Originality/value

The paper presents a uniform framework of 3D digital patching for fragmented cultural relics repair.
Assembly manipulation of small objects by dual‐arm manipulator
Authors: Liza Ahmad Shauri Ruhizan , Nonami Kenzo
Published: August 2011

Purpose

The purpose of this paper is to propose an assembly robot that exhibits specific human‐like skills, with minimal structural cost and a number of external sensors.

Design/methodology/approach

The authors have employed vision processing using multiple cameras to determine targets and postures and propose strategies to determine the pose of a target and to prevent collisions between the fingers and obstacles in an environment with mixed objects. Furthermore, a dynamic trajectory planner integrates the vision and force sensors of the robot hand for the assigned task.

Findings

The authors obtained satisfactory experimental results for autonomous real‐time grasping and screwing. The results verified the capability of the robot for handling small objects.

Research limitations/implications

More effective robotic manipulation requires a higher degree of target orientation data, which will be a future study of this research.

Practical implications

Practicality has been established through results, indicating the capability of the robot to implement human‐like skilled manipulation of small objects. This can potentially reduce the high labor cost associated with the small‐scale manufacture of custom‐made products.

Originality/value

Screwing of nuts of minimum M2 size (diameter, 4.6 mm) and M8‐M10 bolts (head diameter, 15‐19.6 mm; length, 50‐80 mm) by cooperating two seven‐link arm manipulators and three‐fingered hands shows the robot's capability to manipulate small objects.
Using service convenience to reduce perceived cost
Authors: Ngoc Thuy Pham
Published: August 2011

Purpose

In this study, service convenience and service quality are used as proxy constructs of customer's and supplier contributions co‐create customer value. The purpose of this paper is to test the relationship between service convenience and customer satisfaction based on the direct and indirect paths via perceived service quality. It also explores the relative importance of various dimensions of service convenience.

Design/methodology/approach

A structural equation model was developed and tested using data surveyed from domestic airlines customers in Vietnam. The operationalization of service convenience was based on five consumption stages.

Findings

This study reinforces the view that customers use the judgment of their own contribution (via convenience) to evaluate the contribution of the supplier (via service quality), and the resources contributed by both sides will co‐create value for the customers.

Research limitations/implications

Further research may test the role of service convenience in various types of services. The conceptualization and operationalization of service convenience may be enriched by other views.

Practical implications

Service providers should pay attention to customers' convenience in the service process. They should design the service to provide most convenience for customers in each of the service consumption stages.

Originality/value

The paper is among few empirical studies on service convenience, an increasingly important but less researched construct. It also demonstrates how customers and supplier contribute resources and processes to co‐create value.
Conceptualising electronic word of mouth activity
Authors: Chan Yolanda Y.Y. , Ngai E.W.T.
Published: August 2011

Purpose

In light of the growth of internet usage and its important role in the field of e‐commerce, electronic word‐of‐mouth (eWOM) has been changing people's behavior and decisions. People count on other users' opinions and information; they sometimes even make offline decisions based on information acquired online. The purpose of this paper is to conceptualise eWOM activity from an input‐process‐output (IPO) perspective; propose a classification framework based on the identified academic literature; analyze eWOM literature in terms of quantitative development and qualitative issues that are useful to both academics and researchers; and provide directions and guidelines for future research studies in eWOM.

Design/methodology/approach

The authors performed a systematic literature review of peer‐reviewed published journal articles and examined the current state of knowledge on eWOM literature based on a comprehensive search of several leading databases. In total, 94 articles were identified that comprised contributions from different strands of eWOM research. The scope of this investigation was limited to the timeframe of 2000‐2009.

Findings

The present study finds that research in eWOM is relatively new and has evolved only during the last ten years. This ten‐year study is deemed to be representative of the available eWOM literature. It is also shown that many scholars have incorporated established theories to explain eWOM communication phenomena. The current study not only fills the current gap in eWOM research but also provides a roadmap in analyzing eWOM communications.

Practical implications

This study serves as a consolidated database that may be used to guide future research. It provides a structured approach to analyzing the literature and identifying trends and gaps in order to map out an appropriate agenda for eWOM research. The proposed integrated classification framework can serve as a roadmap for academic research.

Originality/value

This paper systematically reviews the current state of eWOM research. To contribute to the development of a more comprehensive database for eWOM research, a classification framework of the eWOM literature is presented, building on the IPO model, by summarizing and organizing prior research into three areas covering antecedents, processes, and consequences of eWOM. The authors further summarize the theories and models that previous scholars have applied to their studies.
What motivates consumers to teleshopping?
Authors: Currás‐Pérez Rafael , Ruiz‐Mafé Carla , Sanz‐Blas Silvia
Published: August 2011

Purpose

The purpose of this paper is to analyze the role of interactivity with television (TV) personalities and audience members as mediating variables between teleshopping genre dependency and teleshopping behavior, and to identify the moderating effects of televiewers' instrumentalist behavior on teleshopping.

Design/methodology/approach

The Media Dependency Theory has been used as the conceptual framework of this study to explain teleshopping in terms of the relations of the individual with the teleshopping genre, TV personalities and audience members.

Findings

Data analysis performed using a sample of 432 Spanish teleshoppers shows that genre dependency has an indirect influence on teleshopping exposure, which in turn has a direct and positive effect on teleshopping behavior. The individual‐media relationships proposed are, in all cases, greater for high instrumentalist televiewers.

Practical implications

This research provides managers suggestions to increase teleshopping behavior. Managers responsible for TV content design should encourage specific viewing and purchase objectives so that they will attract an audience with instrumentalist motivations. They should also design attractive sales programs to retain the audience's attention and promote relationships with program hosts to increase relationships with TV personalities.

Originality/value

Previous research focused on individual media dependency has analyzed the antecedents and consequences of individual media‐genre dependency, but despite dramatic differences between instrumentalist and ritualist televiewers, very limited research has been conducted to examine them. This paper explains teleshopping in terms of the relations of the individual with the teleshopping genre, TV personalities and audience members, focusing on the moderating influence of televiewer's instrumentalist behavior.
ISO 9000 maintenance in service organisations: tales from two companies
Authors: Ab Wahid Roslina , Corner James , Tan Peck‐Leong
Published: August 2011

Purpose

This paper aims to investigate and to highlight the way the quality system is being managed and the outcomes in terms of changes and improvements obtained by the two companies as a result of its maintenance approach. By studying how ISO 9000 is being maintained in the service organisations, it provides useful insights into the unique ways quality systems are managed and the aspects that are important to successful and effective maintenance of ISO 9000 quality system.

Design/methodology/approach

A case study approach as described by Eisenhardt and Yin, is used for this study. A total of 30 face‐to‐face interviews were conducted over a period of 13 weeks with top management, middle management, lower management in charge of operations and quality, and the management representative responsible for the implementation of ISO 9000 in the organisation. To support the findings of the interviews, 300 questionnaires were distributed to employees of both companies. ISO 9000 and quality documents were also reviewed as part of the data gathering process for the study.

Findings

Based on the interview results, there are similarities and differences in how the two case companies maintain their ISO 9000 in terms of how they view and manage the aspects that are closely associated with ISO 9000 maintenance. It was found that the company with higher top management commitment and better internal communication has better‐motivated employees. Regardless of the length of time being certified to ISO 9000, the firm which incorporates a higher level of human resource aspects such as reward, recognition and empowerment into its quality system experiences higher employee enthusiasm and commitment to the maintenance of the quality system which resulted in better employee participation and involvement compared to the one that did not.

Originality/value

This paper makes a contribution to the body of knowledge in the field of quality management systems during the maintenance phase where such work is still limited, especially in the service sector.
Managerial practices of quality costing: an evidence‐based framework
Authors: Luther Robert , Issa Sartawi Iaad
Published: August 2011

Purpose

This paper aims to use empirical data to classify and contextualize the various practices of quality costing.

Design/methodology/approach

The paper uses 23 “best practices” of quality costing extracted from the literature to survey quality managers of 88 publicly listed Jordanian manufacturing firms. Exploratory factor analysis is then used to create an empirical taxonomic framework.

Findings

Factor analysis of the data identifies a six‐factor structure of the practices of quality costing (PQC). Inspection of the component items shows the factors to be conceptually meaningful with none of them containing conflicting items. All factors are reliable and valid and have statistically sound structures.

Research limitations/implications

The classification provided can help managers to better visualize, understand and implement the concept of quality costing. It provides a framework within which practices can be structured and evaluated; managers can identify areas in their firms that are missing and may warrant improvement. The findings should be treated cautiously: the operational definition of PQC derives from an inconsistent literature. Furthermore, the findings are based on self reported data, collected through a questionnaire in Jordan and there is potential source bias or general method variance.

Originality/value

This paper contributes to the body of knowledge through operationalizing the overall concept of quality costing by means of the PQC scale. The six factors identified represent latent constructs within PQC and the component items operationalize such constructs. Furthermore, the procedure provides an illustration of pragmatic application of exploratory factor analysis to empirical managerial data, which can be used in other contexts.
Effects of process parameters on mechanical properties of coated fabrics
Authors: Bulut Yasemin , Sülar Vildan
Published: August 2011

Purpose

The purpose of this paper is to examine the effects of coating process parameters (base fabric, coating material, coating technique and production parameters) on mechanical properties of coated fabrics.

Design/methodology/approach

In this research, 24 coated fabrics were produced under controlled production conditions by using two cotton base fabrics and two coating materials as polyurethane (PU), PU/silicone in order to study how coating affects some of the base fabric's mechanical properties such as breaking strength, breaking elongation, tear strength, bursting strength, bending rigidity and abrasion resistance. The measured data were evaluated with variance analysis to determine the effects of the coating parameters at 95 per cent confidence level.

Findings

Breaking strength shows increments for almost all fabrics, whereas breaking elongation values decreased by coating application. Coating has a very clear influence on tear strength of coated fabrics due to the penetration of coating material into the fabric structure. Changes in bursting strength are not similar for two base fabrics with systematically changed production parameters. Coating improves all measured parameters of bending rigidity. Coating application enhances abrasion resistance though some broken fibers are observed on the fabric surface in scanning electron microscopy investigation.

Originality/value

In the past few years, the researches on this area focused on investigating the effects of coating materials and layers on tensile properties. This study comprehensively examines the effects of several coating parameters on mechanical properties such as breaking strength, breaking elongation, tear strength, bursting strength, bending rigidity and abrasion resistance.
Disposable hydrophilic antimicrobial laminated nonwoven bed sheet
Authors: Onan Murat , Ozcan Gulay , Unal Hakan
Published: August 2011

Purpose

The purpose of this paper is to develop a unique disposable bed sheet design which reduces infection risk and other related problems from patient to patient and others during staying period at hospitals.

Design/methodology/approach

The unique disposable bed sheet consists of three layers which are laminated to each other by hot‐melt technique. Upper and lower layers are different weights of 100 per cent polypropylene produced by spunbond technology. Plasma technology has been used to make the surface of the spunbond polypropylene sheets hydrophilic. Additionally, thermal bond 100 per cent polypropylene sheets, which have hydrophilic surfaces already due to chemical finish have been also used as upper layer. As core layer, different weights of 100 per cent viscose sheets, which have high liquid‐absorption capacity have been used. All three layers have been laminated by hot‐melt technique using etylene vinyl acetate interlayers between them. Antimicrobial effect has been achieved by the impregnation of silver and antibiotic‐based chemicals onto the hydrophilic surface of upper layers. Quality control and performance tests of all these works have been performed according to ISO and BS norms.

Findings

It is possible to have very good liquid suction capacity together with superb comfort properties, thanks to its viscose intermediate sheet and excellent wetback values. Moreover, it is initially cheap, hygienic and has enough strength against breaking and tearing.

Research limitations/implications

Cheaper antimicrobial agents and different application amounts should be checked. Also, durability of the hydrophilicity given by plasma treatment has to be checked. Additionally, dermatological tests should be applied.

Practical implications

It is expected that the infection risk at hospitals will be reduced. Moreover, hospitals will be able to use hygienic bed sheets, which would be preferable to the hospital management. Additionally, this unique design can be used for patients at home or for injured animals in veterinary clinics.

Social implications

Additional staying period due to hospital infections and infections from patient to patient/hospital personnel/visitors/other people will be reduced. Moreover, it is expected that life quality will be raised and dead ratio will be decreased. Beside this, manpower loss and increasing costs due to hospital infections will be prevented.

Originality/value

Design is new and unique. It has practical and social implications.
Textile materials with a pH‐sensitive function
Authors: Van der Schueren Lien , De Clerck Karen
Published: August 2011

Purpose

The purpose of this paper is to develop textile materials with a pH‐sensitive function.

Design/methodology/approach

As a start point, the feasibility of incorporating pH‐indicators in conventional textiles using standard dyeing processes was investigated. Next, a pH‐indicator was incorporated into a nylon nanofibrous structure by adding the dye to the polymer solution before the start of the electro‐spinning process.

Findings

The authors' results proved that it is possible to develop a pH‐sensor using conventional textiles dyed by a standard dyeing process. Also, the incorporation of a pH‐indicator dye into a nanofibrous structure was possible. Moreover, reproducible samples could be obtained. Furthermore, the majority of the obtained textile structures showed a clear colour change with a change in acidity. This halochromic behaviour was, however, different from the behaviour of the dyes in solution due to dye‐fibre interactions.

Originality/value

The knowledge obtained in this study can lead to the development of a textile pH‐sensor. This sensor can be used in a broad field of applications since a colour change is a non‐disturbing but clear signal which can perform a first warning function.
Reducing risk in foreign market entry strategies: standardization versus modification
Authors: Omar Maktoba , Porter Marc
Published: August 2011

Purpose

The purpose of this paper is to investigate empirically the influence of six key contextual determinants upon the degree of standardization for firms who enter a new market directly. In the context of international business market entry, much research emphasis has been placed upon the issues of standardization versus modification. Generally, however, this research focuses on promotion and advertising.

Design/methodology/approach

This paper investigates the research variables that influence standardization/modification decisions in a framework comprising “firm or company context” and “host country context”. The research, undertaken with a sample of 700 UK‐based for‐profit organizations, adapts and further develops Hofstede's study.

Findings

It identifies that the elements of competition and political risk are negatively significant in relation to the degree of standardization. In addition, economic development and international experience are positively significant in relation to the degree of standardization. Firm size and culture differences have no impact upon the degree of standardization.

Research limitations/implications

Research is only conducted among British companies operating cross border.

Originality/value

This paper's originality is in providing specific types of elements as risk reducers in a firm's market entry strategy.
The global burger war: Russians are looking for the best fast food option
Authors: Ostapenko Nikolai V.
Published: August 2011

Purpose

The purpose of this paper is to analyze the fast food market and customer attitudes in Russia, and outline successful and questionable strategies of the Western fast food companies in their attempt to penetrate the Russian market.

Design/methodology/approach

The objective has been achieved by reviewing the first Russian entry of the Belgian‐French fast food chain “Quick” by applying qualitative research method that included observational research, surveying, and interviewing customers and employees of the company both in Paris and Moscow. The topic has been approached by comparing “Quick's” strategies with the other mainly US‐based fast food chains that operate currently in Russia. The subject scope of the paper covers fast food sector development and trends under the early recession conditions of entry.

Findings

It was found that luxury or more upscale (“healthy”) positioning strategy of the new entrant “Quick” into the fast food market in Russia is not working. The company also exhibited a poor location strategy and possibly entered into an inefficient strategic alliance with the Russian partner Tashir group. Some meaningful adjustments are also required for the supply chain structure of “Quick” chain in Russia.

Originality/value

The paper is analyzing the experiences of the new entrant in Russia. It contains new ideas for the fast food sector in the country, and Russian‐foreign equity type joint ventures. This paper presents interest for the needs of the international executives and global marketing specialists.
The Sri Lankan stock market and the macroeconomy: an empirical investigation
Authors: Wickremasinghe Guneratne
Published: August 2011

Purpose

The purpose of this paper is to examine the causal relationships between stock prices and macroeconomic variables in Sri Lanka, in order to examine the validity of the semi‐strong form of the efficient market hypothesis.

Design/methodology/approach

The paper adopts unit roots and cointegration, error‐correction modelling, variance decomposition analysis, and impulse responses analysis to examine the causal relationship between six macroeconomic variables.

Findings

The results indicate that there are both short and long‐run causal relationships between stock prices and macroeconomic variables. These findings refute the validity of the semi‐strong version of the efficient market hypothesis for the Sri Lankan share market and have implications for investors, both domestic and international.

Originality/value

The paper addresses several methodological weaknesses in relation to unit root and cointegration tests which previous studies in the area of the paper have overlooked. Further, it uses more variables than those used in a previous study using Sri Lankan data.
Returns or valuation? Foreign equity investment in the United States
Authors: French Joseph J. , Ahmad Nazneen
Published: August 2011

Purpose

The purpose of this paper is twofold; first, to understand the long‐run dynamics between returns, valuation measures and foreign investment in the USA; second, to determine if these dynamics change following financial market upheaval.

Design/methodology/approach

To address long‐run dynamic nature of the variables, multivariate autoregressive models are fitted for the period of January 1977 to November 2008. To gain additional insight about the nature of equity flows its dynamics are analyzed over the periods containing the 1987 stock market crash and the two major asset bubbles, e.g. internet bubble and the housing bubble.

Findings

The authors find that foreign institutional equity flows are more sensitive to innovations in valuation measures than innovations to excess US market returns; and that foreign investors increase their purchases of US market capitalization following a positive innovation to measures of valuation. The results imply that the behavior of foreign institutional investors are not described by “return chasing” alone. The authors further find that in times of increased uncertainty the joint dynamics between foreign equity flows and valuation measures decouples. Finally consistent with existing literature it was found that equity flows to the USA are autocorrelated.

Originality/value

There is a broad literature on the dynamics of US investment in emerging and developed markets, but very little (if any) research that analyzes the dynamics of equity flows to the US, returns, and measures of valuation. Furthermore, the literature on the behavior of equity flows surrounding financial crises is scant, particularly for developed markets.
The intertemporal mechanics of European stock price momentum
Authors: Stork Philip A.
Published: August 2011

Purpose

The purpose of this paper is to examine the relationship between a stock market's index returns and its subsequent firm‐level momentum profits. This relationship is analysed for each of ten individual European stock markets between 1973 and 2010.

Design/methodology/approach

Using firm‐level data, intra‐market momentum returns are analysed, using various ranking and holding period combinations. Standard t‐tests as well as pooled and country‐specific regressions are employed to determine the significance of the non‐linear relationship between one‐, two‐ and three‐year index returns and subsequent momentum returns.

Findings

Momentum returns following a bull market are positive for all ten stock markets; statistical significance is reached by nine of those ten. Per contrast, momentum returns following a bear market are insignificant for all ten stocks markets, and the average return is negative. Further, in all ten stock markets the momentum profits are lowest following the greatest drops in the index; this effect is significant in eight countries. These results are consistent with the behavioural theories on investors' overconfidence and undue self‐attribution.

Practical implications

The paper's findings suggest that investors should refrain from pursuing a momentum strategy in European stock markets shortly after a severe bear market.

Originality/value

This is the first study to investigate the temporal dependence of firm‐level momentum returns on preceding index movements in European stock markets.
A new paradigm for real estate valuation?
Authors: Wyman David , Seldin Maury , Worzala Elaine
Published: August 2011

Purpose

The purpose of this exploratory paper is to examine the efficient market theories and to argue that a new paradigm or an expanded paradigm is needed for the valuation of real estate. This may actually not be a new paradigm but it may be necessary to go back in time to make the valuation models that are used more realistic and to try to include the realities that there are many diverse actors in the real estate marketplace and their actions are important and should not be assumed away. Behavior matters and the models for pricing real estate need to take this into account.

Design/methodology/approach

The paper examines some of the emerging models in other disciplines and works to relate them to the real estate marketplace in general but, more importantly, to help to explain the most recent bust of the global real estate markets.

Findings

The paper finds that there is a need to consider an alternative paradigm for the valuation of real estate and complexity theory as well as the adaptive system models that specifically take into account that the various actors in a real estate marketplace could be used to help better explain the emergent nature of real estate values.

Originality/value

This is the first paper to one's knowledge that argues for a shift in thinking to include complexity economics and agent‐based modeling as potential solutions to gain a better understanding of how real estate markets react.
Real estate market dynamics during capital market imbalances
Authors: Hamilton Thomas
Published: August 2011

Purpose

The major purpose of this paper is to refocus the appraisal profession on estimating value rather than explaining price. The appraisal profession itself encompasses many disciplines of valuation beyond real estate, and transcends disciplines such as economics, the construction trades, business, finance, law, government, statistics, mathematics, geography, geology, mapping, and information sciences.

Design/methodology/approach

This paper describes how rapidly changing capital market conditions greatly affected transaction prices for real estate when underlying economic fundamental values of these properties remained unchanged. As such, differences between transaction prices and underlying economic value can be determined when capital markets rapidly expand or contract.

Findings

Most of the concepts, methods, processes, and techniques that appraisers use today are the direct result of studies performed within the academic community and most often from some other related field of study, rather than from pure valuation research itself. This is where the problems with which one is living today have erupted.

Originality/value

Property values and transaction prices are two very different beasts: value is a concept, whereas price is a reality. Appraisers have somehow forgotten that the price paid for real estate can be quite different from the value of that same parcel of real estate.
Market value, fair value, and duress
Authors: Dorchester John
Published: August 2011

Purpose

This paper seeks to consider a significant market misconception and related errors commonly made by valuers, financial decision makers, and other users of valuation services. Its purpose is to focus on the importance of relating the explicit requirements of market value and fair value definitions to the evidence required for a supportable opinion of either.

Design/methodology/approach

The paper provides conceptual foundations for the terms “market value” and “fair value” and reviews their meanings and applications in a historical context. Business cycles and the recent recession are used as foundations for illustrating how prices, such as for real estate, vary with cycles, but are not always directly indicative of either market value or fair value. The latter term has a long history, but has undergone recent definition and revision by the US Financial Accounting Standards Board (FASB) that are shown to closely align fair value with market value. A current controversy over the use of transactions as prima fascie, or perhaps the only indication of market value is discussed and the “market” of “market value” is examined.

Findings

The paper offers a new look at market evidence concepts that are time‐honored, yet have been largely lost or forgotten. The principal finding is that duress is not consistent with conventional definitions of market value or fair value, yet significant market evidence exists that duress is often ignored or improperly considered in valuations and financial decisions. The paper also concludes that the FASB's focus on “market participants” (sellers and buyers) as the prime source of Fair Value evidence is akin to the rules which have applied to market value for many decades. The paper concludes with a discussion of why transactions may be evidence of “a market,” but are not necessarily representative of the “market” or of fair value.

Originality/value

Market Value is a market protection against fraud, misrepresentation, and misunderstanding. Valuations must be performed in accordance with that definition – not as it is interpreted for personal gain or for any other interpretations of convenience, misunderstanding, or special purpose.
Expert systems and mass appraisal
Authors: Kilpatrick John
Published: August 2011

Purpose

The purpose of this paper is to examine the usefulness of a heuristic expert system, to show its applicability to real‐world valuation problems, and to suggest several avenues for statistical testing.

Design/methodology/approach

The expert systems follow a traditional sales adjustment grid format, with sufficient data for non‐parametric testing.

Findings

The paper finds that, while non‐parametric statistics provide weaker results than traditional (e.g. hedonic regression) modeling, the technique provides a statistically testable model useful in situations with limited data and/or poorly characterized probability functions.

Practical implications

This paper addresses the conundrum faced by real estate valuers on the lack of statistical underpinnings of traditional heuristic models.

Originality/value

This is one of the first empirical studies in the valuation literature exploring statistical characterization of heuristic valuation methods.
Preserving agricultural and forest land: a TDR approach
Authors: Mundy Bill , Lane Theodore
Published: August 2011

Purpose

The purpose of this paper is to explore the demand and supply relationship between urban and non‐urban land, the latter's diminishing supply, arguments for and against its preservation, methods in which preservation might be achieved and one method in particular, with which the authors have considerable experience, that involves the purchase of development rights and density credits.

Design/methodology/approach

The research design involved meetings with farmers, city and county officials and members of several land conservation organizations, bringing together several hundred agricultural and residential real estate transactions, quantitative analysis of the transaction data using descriptive and hedonic methods, developing property attribute values and thereby determining the value of agricultural development rights and urban density credits.

Findings

Agricultural development rights were valued, on average, at $9,000 per acre. Commercial development rights were valued, on average, at $9.00 per square foot of floor area (FAR).

Practical implications

By acquiring agricultural development rights the process of agricultural land being converted to urban purposes can be slowed or halted. Valuing and selling development rights is a straightforward means of permitting urban density that is understood by developers and easily, objectively and transparently quantified. It is also a good method of raising funds for the acquisition of agricultural development rights.

Originality/value

The valuation process developed and employed does away with the need for individual appraisals of rights to be acquired and sold. Therefore this is a very efficient process. Also, it shows how farmers, preservationists and planners can be brought together to solve a common problem.
European valuation practices: how to compare valuations across borders? Initial findings
Authors: Hordijk Aart , Nelisse Paul , Koerhuis‐Gritter Leonie
Published: August 2011

Purpose

Real estate investors invest more and more cross‐border, but the valuation practices in the different countries are not similar. For investors it is good to know the difference in valuations between the countries, therefore this paper aims to investigate the valuation practices in eight different countries (France, Germany, Italy, The Netherlands, Portugal, Russia, Spain and the UK).

Design/methodology/approach

To gather the information a questionnaire was sent out. The questionnaire included questions not only about facts, but also about the respondents' opinion about the reliability of the information.

Findings

It was found that in the different countries market value is not always the basis and that a wide variation of surface measurements is currently applied. Regular lease periods and the responsibility for operating cost vary from country to country. Also the sources for market evidence and their reliability differ per country. So it can be seen that, although market values can be compared across countries, valuation methodologies are country‐specific.

Research limitations/implications

The authors are still in the process of retrieving information and quality control, and the intention is to expand the research to all European Union countries, and finally all European countries. Therefore this paper only shows initial findings.

Originality/value

The existing research about international valuation practices is not very recent, and, because the authors not only assembled facts and processes, but also collected the respondents' opinions about the reliability of the information, the research is very valuable.
Professional standards: RICS Valuer Registration Scheme
Authors: French Nick
Published: August 2011

Purpose

In the last ten years, there has been much debate about the need for the licensing and regulation of property valuers in Europe. The European Union has “hinted” at the need for a pan‐European licensing scheme in keeping with the model of licensing in the USA. This paper seeks to discuss the option of regulation available and the role of the RICS in introducing a comprehensive self‐regulatory process.

Design/methodology/approach

This paper looks at the evolution of the “RICS Valuers Registration Scheme” and the potential impact it will have on raising the standards of valuations not just in the UK but worldwide.

Findings

The RICS Standards require the valuer to undertake valuations in an appropriate and professional manner. The potential impact of the “RICS Valuers Registration Scheme” is that it will educate the profession and thus increase overall standards. Although the system does have sanctions, if required, the intent is not to penalise but to encourage and promote good practice.

Originality/value

This paper is a review of the “RICS Valuers Registration Scheme”. It outlines the history of the development of the scheme and the potential impact that it will have on the quality of valuations worldwide.
Changing the rules of the game
Authors: Agness Lindsey
Published: August 2011

Purpose

The aim of this paper is to explore how neuro‐linguistic programming (NLP) can help organizations achieve dramatic culture shifts in a short space of time.

Design/methodology/approach

Based on the author's 17 years of experience in helping organizations change, the paper puts forward a theory that it is the unconscious rules within an organization's culture that prevent change strategies from succeeding. The paper proposes strategies based on NLP for more effective change, supported by case studies demonstrating how the theory can be applied.

Findings

NLP‐based strategies help to uncover the unconscious rules and break them down to identifiable pieces on which to base strategies that will lead to real change.

Originality/value

The author shares a strategy and practical model for culture change that have been developed after many years of working with clients to deliver sustainable culture change initiatives that result in long‐term change.
Onsite handover of clinical care: implementing modified CHAPS
Authors: Basu Abhijit , Arora Rohit , Fernandes Nancy
Published: August 2011

Purpose

The paper's aim is to determine the quality of transfer of information in relation to NHSLA criterion “on site handover of patient care” between doctors on delivery suite of a UK teaching hospital.

Design/methodology/approach

A pilot project, supplemental to the existing system, was trialled on delivery suite to assess the usefulness of a locally modified, standardised instrument (CHAPS) tested previously among midwives at a UK hospital. This was a retrospective audit of the hard copies of the forms available over a period of six weeks.

Findings

A total of 69 (82 per cent) forms were available for analysis. Obstetric registrar did the handover in 45(65 per cent) while no information was available in 32 per cent. Satisfactory assessment of clinical picture and history was possible in 96 per cent and 90 per cent cases respectively. Patient assessment was deemed satisfactory in 90 per cent cases. Management plan was satisfactory in 88 per cent. Documentation regarding date and time of handover was present in 84 per cent and 77 per cent cases respectively. Signature of the personnel handing and taking over were identifiable in 64 per cent and 55 per cent cases respectively.

Research limitations/implications

This pilot study was done in one clinical area at a single hospital over a short period. Wider use in other clinical areas treating different conditions is required to demonstrate global applicability.

Practical implications

This small study demonstrates good quality of transfer of information regarding patient care with the modified CHAPS instrument for handover between doctors on a delivery suite. It also raises the issues regarding poor documentation.

Originality/value

This is the only study of its kind hence comparisons could not be made. However it highlights the multiple issues regarding the complexities of handover of patient care between medical personnel.
Safety as a hospital organizational priority: a case study
Authors: Alhatmi Yasmeen
Published: August 2011

Purpose

Globally, safety in healthcare services has become an important focus. The Sultan Qaboos University Hospital (SQUH), located in the Sultanate of Oman in the Arabian Gulf, has begun to take active steps in delivering safer healthcare services while moving towards healthcare excellence. The purpose of this paper is to show the importance of prioritizing hospital‐wide safety and discuss how it has become essentially linked to the multi‐faceted dimension of quality through acceptability, efficiency accessibility and continuity in SQUH.

Design/methodology/approach

In an effort to shift all cultural elements of SQUH staff, system and activities towards addressing the goal of safety, SQUH has brought on a safety culture by holistic and systemic approach to quality improvement. Illustrated herein is the journey of how the hospital is addressing and measuring the goal of safety as an organizational priority through values, beliefs, goals, policies and operations.

Findings

The progressive steps that SQUH initiated since 2008 which measure, assess and ultimately change the perception of safety in the hospital are described. Specific recommendations include addressing safety culture elements of communicated values and objectives and measuring them, raising the awareness and training barriers, adopting safety goals specific to hospital environment, and centralizing a monitoring system to track input, progress and closure of safety mechanisms and activities.

Originality/value

The paper presents a model for improving safety in healthcare services through the initiatives of a university hospital, implementing a measureable phase approach over a two‐year period for addressing the goal of safety.