Search results for: financing from customers

Authors: Olusola Abiodun Arinde

Abstract:

This research work was prompted by the very important role e-commerce plays in every organization, be it private or public. The underlying objective of this study is to have a critical appraisal of the extent to which e-commerce impacts on organizational effectiveness. This research was carried out using Zenith Bank Plc as a case study. Relevant data were collected through structured questionnaire, oral interview, journals, newspapers, and textbooks. The data collected were analyzed and hypotheses were tested. Based on the result of the hypotheses, it was observed that e-commerce is significant to every organization. Through e-commerce, fast services delivery would be guaranteed to customers, this would lead to higher productivity and profit for organizations. E-commerce should be managed in such a way that it does not alienate customers; it should also prevent enormous risks that are associated with e-commerce.

Keywords: e-commerce, fast service, productivity, profit

Procedia PDF Downloads 218

Authors: Paulo Sergio Altman Ferreira

Abstract:

Relationship development plays an essential role in every logistics company. Logistics companies are service-based businesses essentially performing the flow of materials, housing, and inventory management for a wide range of customers. The service encounter between the logistics provider’s personnel and the customers may form a connection that will demonstrate a strong impact, not only to the customers' overall satisfaction but may also provide the perception of individualized services. Logistics services must drive value. It also shows a close influence on the quality and costs of client-centered services. If we describe logistics value creation as the function of quality perception of the client divided by service costs, there is a requirement to better outline and explain the measures and analytics for logistics costs and relationship performance. This critical shift to understand logistics services is a relevant contribution to capture how relationship value can be quantified. This might involve changing our current perspective on logistics providers beyond uniquely measuring the services in terms of activities, personnel levels, and financial/costs ratios. This paper argues that measuring value creation accomplishments of logistics services needs to consider the relational improvements for the wider range of logistics companies. Accurate logistics value requires a description of the financial impact of the relational perspective of the service.

Keywords: logistics services providers, financial metrics, relationship management, value creation

Procedia PDF Downloads 125

Authors: Abidemi C. Adegboye, Samuel Iweriebor

Abstract:

The primary link between financial institutions and economic performance is the provision of resources by these institutions to businesses in order to drive enterprise expansion, sustainability, and development. In this study, the role of access to finance in driving innovations and productivity in Nigerian SMEs is investigated using the World Bank Enterprise Survey (ES) dataset. Innovation is defined based on the ES analysis using five compositions including product, method, organisational, use of foreign-licensed technology, and spending on R&D. The study considers finance in terms of source in meeting investment needs and in terms of access. Moreover, finance access is categorized as external and internal to a firm with each having different implications. The research methodology adopted a survey analysis based on the 2014 World Bank Enterprise Survey of 19 states in Nigeria. The survey comprised over 10,000 manufacturing and services firms, both at the small scale and medium scale levels. The logit estimation technique is used to estimate the relationships in the study. The results from the empirical analysis show that in general, access to finance drives SME innovation in Nigeria. In particular, ease of accessing bank loans and credit is shown to be the strongest positive force in driving all types of innovation among SMEs in Nigeria. In the same vein, the type of finance source for investment matters in terms of how it affects innovation: it is shown that both internal and external sources improve investment in product, process, and organisational innovation, but only external financing has effect on R&D spending and use of foreign licensed technology. Overall spending on R&D is only driven by access to external finance by the SMEs. For productivity, the results show that while structure of financing investment improves productivity, increased access to finance may actually lead to productivity decline among SMEs in Nigeria. There is a need for the financial system to evolve structures to increase fund availability to SMEs in Nigeria, especially for the purpose of innovation investment.

Keywords: access to finance, financing investment, innovation, productivity, SMEs

Procedia PDF Downloads 330

Authors: Abbas Al-Refaie

Abstract:

The research examines the factors that affect customer churn (CC) in the Jordanian telecom industry. A total of 700 surveys were distributed. Cluster analysis revealed three main clusters. Results showed that CC and customer satisfaction (CS) were the key determinants in forming the three clusters. In two clusters, the center values of CC were high, indicating that the customers were loyal and SC was expensive and time- and energy-consuming. Still, the mobile service provider (MSP) should enhance its communication (COM), and value added services (VASs), as well as customer complaint management systems (CCMS). Finally, for the third cluster the center of the CC indicates a poor level of loyalty, which facilitates customers churn to another MSP. The results of this study provide valuable feedback for MSP decision makers regarding approaches to improving their performance and reducing CC.

Keywords: cluster analysis, telecom industry, switching cost, customer churn

Procedia PDF Downloads 304

Authors: Chyong-Ru Liu, Wen-Shiung Huang, Wan-Ching Tang, Shan-Pei Chen

Abstract:

Two of the biggest challenges companies involved in sports and exercise information services face are how to strengthen participation in virtual sports/exercise communities and how to increase the ongoing participatoriness of those communities. In the past, relatively little research has explored mechanisms for strengthening alignment practice and community response from the perspective of self-construal, and as such this study seeks to explore the self-construal of virtual sports/exercise communities, the role it plays in the emotional commitment of forming communities, and the factor that can strengthen alignment practice. Moreover, which factor of the emotional commitment of forming virtual communities have the effect of strengthening interference in the process of transforming customer citizenship behaviors? This study collected 625 responses from the two leading websites in terms of fan numbers in the provision of information on road race and marathon events in Taiwan, with model testing conducted through linear structural equation modelling and the bootstrapping technique to test the proposed hypotheses. The results proved independent construal had a stronger positive direct effect on affective commitment to fellow customers than did interdependent construal, and the influences of affective commitment to fellow customers in enhancing customer citizenship behavior. Public self-consciousness moderates the relationships among independent self-construal and interdependent self-construal on effective commitment to fellow customers. Perceived playfulness moderates the relationships between effective commitment to fellow customers and customer citizenship behavior. The findings of this study provide significant insights for the researchers and related organizations. From the theoretical perspective, this is empirical research that investigated the self-construal theory and responses (i.e., affective commitment to fellow customers, customer citizenship behavior) in virtual sports/exercise communities. We further explore how to govern virtual sports/exercise community participants’ heterogeneity through public self-consciousness mechanism to align participants’ affective commitment. Moreover, perceived playfulness has the effect of strengthening effective commitment to fellow customers with customer citizenship behaviors. The results of this study can provide a foundation for the construction of future theories and can be provided to related organizations for reference in their planning of virtual communities.

Keywords: self-construal theory, public self-consciousness, affective commitment, customer citizenship behavior

Procedia PDF Downloads 80

Authors: Muhammad Shujaat Saleem, Imamuddin

Abstract:

In reply to the argument made by the non-believers of Makkah “Sale is similar to riba”, Almighty Allah ordered “Sale is permissible while riba is impermissible”. The main intent of the study was to clarify the fallacy prevailing among the Muslims that in practical terms the product of Murabaha which is being offered by the Islamic banks is similar to that of conventional interest based business loan. However, specific objective was to ascertain the degree of financial efficiency on the basis of fund/loan utilization for intended purpose of Murabaha financing vis-à-vis conventional interest based business loan. The study employed survey strategy to collect primary data through structured close ended questionnaires from the sample of 98 Murabaha officers and 178 loan officers out of the whole population of 5 Islamic and 10 conventional banks respectively. Quantitative and qualitative techniques were used to analyze the data and the same is tabulated by use of frequency tables. The study found that the financial efficiency of Murabaha financing is more than that of conventional interest based business loan by 28% as Murabaha funds of Islamic banks are utilized for its intended purpose to the extent of 97% on average, compared to 69% of business loan offered by conventional banks.

Keywords: financial efficiency, murabaha funds, loan amount, intended purpose

Procedia PDF Downloads 314

Authors: Erindi Allaj

Abstract:

This paper studies arbitrage pricing theory in financial markets with transaction costs. We extend the existing theory to include the more realistic possibility that the price at which the investors trade is dependent on the traded volume. The investors in the market always buy at the ask and sell at the bid price. Transaction costs are composed of two terms, one is able to capture the implicit transaction costs and the other the price impact. Moreover, a new definition of a self-financing portfolio is obtained. The self-financing condition suggests that continuous trading is possible, but is restricted to predictable trading strategies which have left and right limit and finite quadratic variation. That is, predictable trading strategies of infinite variation and of finite quadratic variation are allowed in our setting. Within this framework, the existence of an equivalent probability measure is equivalent to the absence of arbitrage opportunities, so that the first fundamental theorem of asset pricing (FFTAP) holds. It is also proved that, when this probability measure is unique, any contingent claim in the market is hedgeable in an L2-sense. The price of any contingent claim is equal to the risk-neutral price. To better understand how to apply the theory proposed we provide an example with linear transaction costs.

Keywords: arbitrage pricing theory,
transaction costs, fundamental theorems of arbitrage, financial markets

Procedia PDF Downloads 324

Authors: Masud Ibrahim

Abstract:

in Ghana. The sample of the study comprised 450 bank customers from universal banks operating in Ghana. A conceptual framework was framed from a revised TAM model. A total of nine hypotheses were developed and tested using Structural Equation Modeling Technique. Findings from this study revealed that perceived ease of use and perceived usefulness are influenced positively by design and perceived security. Also, perceived ease of use, social influence and perceived security risk were found to have a strong influence on mobile banking app adoption intention. This study provides significant insights and implications for banking organizations on how to ensure the adoption and usage of their mobile banking apps.

Keywords: mobile banking app, perceived ease of use, perceived usefulness, technology acceptance model

Procedia PDF Downloads 131

Authors: Ilhan Keskin, Hasan Bulent Kantarci

Abstract:

In this study, one of the tools of Islamic financing known as “Sukuk” a non-interest bearing investment which has started to be implemented in Turkey and the world as a whole is discussed. In order to increase the vitality and efficiency of the economy, by taking lessons from the recent economic crisis new developments in the banking and investment sector are being expanded. The purpose of all investors is to obtain more revenue through the use of capital. The inability of traditional investment tools to meet the expectations of investors and the interest based financial system where one investor benefits at the expense of another there has been the need for a different, reliable and non-interest bearing financial market that is consistent with the Islamic rule. As a result an alternative and more reliable interest free financing tool “Sukuk” rental certificates covering people who are sensitive to Islamic rules, appeal to all segments, hidden remaining capital that contributes to the economy, reduce disparities in income distribution, common risk sharing system of profit and loss sharing has emerged. Today, for the structural countries by examining the state of the world market economy the applicability, enactment and future issues associated with this attractive kind of Islamic finance namely the “Sukuk” market has been explained.

Keywords: Islamic finance, islamic markets, non-interest bearing, rental certificates

Procedia PDF Downloads 497

Authors: Khlif Hamadi

Abstract:

Supply chain integration has become a potentially valuable way of securing shared information and improving supply chain performance since competition is no longer between organizations but among supply chains. This research conceptualizes and develops three dimensions of supply chain integration (integration with customers, integration with suppliers, and the interorganizational integration) and tests the relationships between supply chain integration, information sharing, and supply chain performance. Furthermore, the four types of information sharing namely; information sharing with customers, information sharing with suppliers, inter-functional information sharing, and intra-organizational information sharing; and the four constructs of Supply Chain Performance represents expenses of costs, asset utilization, supply chain reliability, and supply chain flexibility and responsiveness. The theoretical and practical implications of the study, as well as directions for future research, are discussed.

Keywords: supply chain integration, supply chain management, information sharing, supply chain performance

Procedia PDF Downloads 223

Authors: Subhadeep Mandal, Sujoy Bhattacharya, Pabitra Mitra, Diya Guha Roy, Seema Bhattacharya

Abstract:

E-commerce firms allow customers to evaluate and review the things they buy as a positive or bad experience. The e-commerce transaction processes are made up of a variety of diverse organizations and activities that operate independently but are connected together to complete the transaction (from placing an order to the goods reaching the client). After a negative shopping experience, clients frequently disregard the critical assessment of these businesses and submit their feedback on an all-over basis, which benefits certain enterprises but is tedious for others. In this article, we solely dealt with negative reviews and attempted to distinguish between negative reviews where the e-commerce firm is explicitly blamed by customers for a bad purchasing experience and other negative reviews.

Keywords: e-commerce, online shopping, customer reviews, customer behaviour, text analytics, n-grams classification

Procedia PDF Downloads 229

Authors: Seyed Habib A. Rahmati, Parsa Fallah Sheikhlari, Morteza Musakhani

Abstract:

This paper studies the structure of financial investment and efficiency on the subway would be created between Hashtgerd and Qazvin in Iran. Regarding ascending rate of transportation between Tehran and Qazvin which directly air pollution, it clearly implies to public transportation requirement between these two cities near Tehran. The railway transportation like subway can help each country to terminate traffic jam which has some advantages such as speed, security, non-pollution, low cost of public transport, etc. This type of transportation needs national infrastructures which require enormous investment. It couldn’t implement without leading and managing funds and investments properly. In order to response 'needs', clear norms or normative targets have to be agreed and obviously it is important to distinguish costs from investment requirements critically. Implementation phase affects investment requirements and financing needs. So recognizing barrier related to investment and the quality of investment (what technologies and services are invested in) is as important as the amounts of investment. Different investment methods have mentioned as follows loan, leasing, equity participation, Line of financing, finance, usance, bay back. Alternatives survey before initiation and analyzing of risk management is one of the most important parts in this project. Observation of similar project cities each country has the own specification to choose investment method.

Keywords: subway project, project investment, project contract, project management

Procedia PDF Downloads 454

Authors: Mouldi Djelassi, Jamel Boukhatem

Abstract:

Background: A relation has been established between Islamic banks' activities and interest rates. The aim of this study was to explore the impact of interest rates on the deposits and loans held by Islamic and conventional banks in Saudi Arabia. Methods: A time series data was performed over the period 2008Q1-2020Q2 on eight conventional banks and four Islamic banks. The impacts of interest rate shocks on deposits and loans were identified through panel vector autoregressive models. Results: Impulse response function analysis showed that increasing interest rates reduce loans and conventional deposits. For Islamic banks, deposits are more affected by interest rates than lending. Variance decomposition analysis revealed that deposits contribute to 61% of the Islamic financing variation and only 25% of the conventional loans. Conclusion: Interest rates impacted Islamic banks especially through deposits, which is inconsistent with the theoretical framework. Islamic deposits played an important role in Islamic financing variation and may provide to be a channel for the transmission of the monetary policy in a dual banking system. Monetary policy in Saudi Arabia works in part through “credits” (conventional bank credits) as well as through “money” (conventional and Islamic bank deposits).

Keywords: Islamic banking, interest rates, monetary policy transmission, panel VAR

Procedia PDF Downloads 78

Authors: Humayun Murshed

Abstract:

There is growing importance of ‘social enterprise’ among the researchers and policy makers around the globe. Such enterprises have been viewed as alternative means for addressing the concerns relating to financing of corporate enterprises and social empowerment. This, some cases, has led to relatively unrealistic and higher level of expectations among policy makers and the members of the society at large. There is a general perception among different social actors that these enterprises provide universal and magic solution towards employment generation, and thus resulting in eradicating poverty, and ensuring equitable distribution of income and wealth. However, in many cases, these enterprises find a challenging journey in terms of prevailing market structure, socio-political environment, and unrealistic perception and expectations of social participants. This paper is focused on reviewing case studies based on empirical research and information from secondary sources and geared to looking at the challenges that social enterprises face. The research will draw the experience primarily from the developing countries’ perspective by adopting case study methodology. A tentative action plan will be suggested for further review by the policy makers and researchers in this growing arena of discipline. This research will attempt to highlight the myths and realities surrounding the operation of social enterprises.

Keywords: social enterprises, social empowerment, economic development, financing need

Procedia PDF Downloads 160

Authors: Eka Yuliana, Siska Shabrina Julyan

Abstract:

The competitive environment and high customer’s churn rate in telecommunication industries lead Indonesian telecommunication companies become strive to offer products with more value. Offering product with more value can encourage customers to keep using the companies product. One of way to retain customer is give a membership card to the customers as practiced by PT. Telkom by giving Telkom Membership Card to PT. Telkom loyal customer. This study aims to determine the influence of Telkom Membership Card customer perceived value on retaining PT. Telkom Indonesia’s customer in 2013-2014 by using quantitative method with causal study. Analythical technique used in this study is Structural Equation Modelling (SEM) to test the causal relationship with 216 owner of Telkom Membership Card in Indonesia. This study conclude that: (i) Customer perceived value on Telkom Membership Card is located in fair value zone, (ii) PT. Telkom efforts in order to retain the customers is classified as good, (iii) Customer perceived value is influencing the effort to retain the customer with the probability value less than 0.05 and level of influence 69%. Based on result of this study, PT. Telkom should (i) Improve Telkom Membership Card’s promotion because not all customer of PT. Telkom have the membership card. (iia) Adding Telkom Membership Card’s benefit such as discount at various merchant (iib) Making call center for member of Telkom Membership Card (iii) PT. Telkom should be ensure availability of their service. (iv) PT. Telkom should make a priority to customer who have telkom membership card and offers a better service.For future research should be use different variables.

Keywords: customer perceived value, customer retention, marketing, relationship marketing

Procedia PDF Downloads 286

Authors: Sanaz Farhangi, Habib Alipour

Abstract:

The main objective of this paper is to explore how social media as a critical platform would increase the interactions between the tourism sector and stakeholders. Nowadays, human interactions through social media in many areas, especially in tourism, provide various experiences and information that users share and discuss. Organizations and firms can gain customer loyalty through social media platforms, albeit consumers' negative image of the product or services. Such a negative image can be reduced through constant communication between produces and consumers, especially with the availability of the new technology. Therefore, effective management of customer relationships in social media creates an extraordinary opportunity for organizations to enhance value and brand loyalty. In this study, we seek to develop a conceptual model for addressing factors such as social media, SCRM, and customer engagement affecting brand loyalty and diminish co-destruction. To support this model, we scanned the relevant literature using a comprehensive category of ideas in the context of marketing and customer relationship management. This will allow exploring whether there is any relationship between social media, customer engagement, social customer relationship management (SCRM), co-destruction, and brand loyalty. SCRM has been explored as a moderating factor in the relationship between customer engagement and social media to secure brand loyalty and diminish co-destruction of the company’s value. Although numerous studies have been conducted on the impact of social media on customers and marketing behavior, there are limited studies for investigating the relationship between SCRM, brand loyalty, and negative e-WOM, which results in the reduction of the co-destruction of value by customers. This study is an important contribution to the tourism and hospitality industry in orienting customer behavior in social media using SCRM. This study revealed that through social media platforms, management can generate discussion and engagement about the product and services, which facilitates customers feeling in an appositive way towards the firm and its product. Study has also revealed that customers’ complaints through social media have a multi-purpose effect; it can degrade the value of the product, but at the same time, it will motivate the firm to overcome its weaknesses and correct its shortcomings. This study has also implications for the managers and practitioners, especially in the tourism and hospitality sector. Future research direction and limitations of the research were also discussed.

Keywords: brand loyalty, co-destruction, customer engagement, SCRM, tourism and hospitality

Procedia PDF Downloads 95

Authors: Adel Bouchakhchoukha, Hakim Akeb

Abstract:

In this work, we propose a hybrid heuristic in order to solve the Team Orienteering Problem (TOP). Given a set of points (or customers), each with associated score (profit or benefit), and a team that has a fixed number of members, the problem to solve is to visit a subset of points in order to maximize the total collected score. Each member performs a tour starting at the start point, visiting distinct customers and the tour terminates at the arrival point. In addition, each point is visited at most once, and the total time in each tour cannot be greater than a given value. The proposed heuristic combines beam search and a local optimization strategy. The algorithm was tested on several sets of instances and encouraging results were obtained.

Keywords: team orienteering problem, vehicle routing, beam search, local search

Procedia PDF Downloads 398

Authors: Nhi Ngoc Thien

Abstract:

Franchising is a popular trend in Vietnam retail industry, especially in fast food industry. Several famous foreign fast food brands such as KFC, Lotteria, Jollibee or Pizza Hut invested on this potential market since the 1990s. Following this trend, in 2011, Burger King - the second largest fast food hamburger chain all over the world - entered Vietnam with its first store located in Tan Son Nhat International Airport, with the expectation to become the leading brand in the country. However, the business performance of Burger King was not going well in the first few years making it questioned about its strategy. The given assumption was that its business performance was affected negatively by its store location selection strategy. This research aims to investigate the current performance of Burger King Vietnam in terms of the controllable variables like store location as well as to explore the key factors influencing customer decision to choose Burger King. Therefore, a case study research method was conducted to approach deeply on the opinions and evaluations of 10 Burger King’s customers, Burger King's staffs and other fast food experts on Burger King’s performance through in-depth interview, direct observation and documentary analysis. Findings show that there are 8 determinants affecting the decision-making of Burger King’s customers, which are store location, quality of food, service quality, store atmosphere, price, promotion, menu and brand reputation. Moreover, findings present that Burger King’s staffs and fast food experts also mentioned the main problems of Burger King, which are about store location and food quality. As a result, there are some recommendations for Burger King Vietnam to improve its performance in the market and attract more Vietnamese target customers by giving suitable promotional activities among its customers and being differentiated itself from other fast food brands.

Keywords: overall retail strategy, controllable variables, store location, quality of food

Procedia PDF Downloads 323

Authors: Preethi Sudarshanie Dassanayake, R. A. Sudath Weerasiri

Abstract:

Objective: The objective of this study were to find out highest expectation and perception,highest gap between perception and expectation of service quality, and to find out such gaps between perception and expectation with regard to service quality dimensions were whether statistically significant. Methodology: This study carried out at the Out Patient Department (OPD) of the Veterinary Teaching Hospital (VTH), University of Peradeniya. Modified version of SERVQUAL with 22-pairs of items regarding expectation and perception of service quality in dimensions of tangible, reliability, responsiveness, assurance and empathy were included in Part 1 and the Part 2 of the questionnaire consisted of questions regarding socio-demographic factors. Sample size was 200 and sampling procedure was Systematic Random Sampling. Customers above 18 years of age, able to read, write and understand Sinhala or English language, visits more than twice in last six months and who willing to respond were selected. Findings: The analysis revealed customers expectations of service higher than the perceived for all 22- items of the SERVQUAL. This high expectation suggests that there is sufficient room for further improvement of service quality in all five dimensions. Originality/Value of the Paper: This study gave a new insight for poorly researched area of veterinary health service quality in Sri Lankan context. It provides hospital administrators and policy makers to develop strategies for further improvement of service quality according to customers' view.

Keywords: expectation, perception, service quality, SERVQUAL, veterinary health care

Procedia PDF Downloads 446

Authors: Mananya Meenakorn

Abstract:

The purpose of this research is to study the relationship customer perception and brand value of cosmetics in the view of customers in Thailand. The research is quantitative research using the survey method by questionnaire. Data were collected from female cosmetics consumer that residents in Bangkok, aged between 25-55 years. Researchers have determined the size of the sample by using Taro Yamane technic a total of 400 people. The study found the Shiseido cosmetics brand image always come with the new products innovation is in the height level. The average was 3.812, second is Shiseido brand has used innovation to produce the product for 3.792. And brand Shiseido looks luxury with an average of 3.707 respectively. In additional in terms of Lancôme cosmetic brand found the brand image is luxury at the height levels for 4.170 average. The seductive glamor is considered in the moderate with an average of 3.822 respectively.

Keywords: brand image, international fashion dress, values, working women

Procedia PDF Downloads 197

Authors: Justyna P. Majewska, Szymon M. Truskolaski

Abstract:

The growing importance of digitalized services in the so-called new economy, including the e-sports industry, can be observed recently. Various demographic or technological changes lead consumers to modify their needs, not regarding the services themselves but the method of their application (attracting customers, forms of payment, new content, etc.). In the case of leisure-related to competitive spectating activities, there is a growing need to participate in events whose content is not sports competitions but computer games challenge – e-sport. The literature in this area so far focuses on determining the number of e-sport fans with elements of a simple statistical description (mainly concerning demographic characteristics such as age, gender, place of residence). Meanwhile, the development of the industry is influenced by a combination of many different, intertwined demographic, personality and psychosocial characteristics of customers, as well as the characteristics of their environment. Therefore, there is a need for a deeper recognition of the determinants of the behavioral patterns upon selecting digitalized services by customers, which, in the absence of available large data sets, can be achieved by using econometric simulations – multi-agent modeling. The cognitive aim of the study is to reveal internal and external determinants of behavioral patterns of customers taking into account various variants of economic development (the pace of digitization and technological development, socio-demographic changes, etc.). In the paper, an agent-based model with heterogeneous agents (characteristics of customers themselves and their environment) was developed, which allowed identifying a three-stage development scenario: i) initial interest, ii) standardization, and iii) full professionalization. The probabilities regarding the transition process were estimated using the Method of Simulated Moments. The estimation of the agent-based model parameters and sensitivity analysis reveals crucial factors that have driven a rising trend in e-sport spectating and, in a wider perspective, the development of digitalized services. Among the psychosocial characteristics of customers, they are the level of familiarization with the rules of games as well as sports disciplines, active and passive participation history and individual perception of challenging activities. Environmental factors include general reception of games, number and level of recognition of community builders and the level of technological development of streaming as well as community building platforms. However, the crucial factor underlying the good predictive power of the model is the level of professionalization. While in the initial interest phase, the entry barriers for new customers are high. They decrease during the phase of standardization and increase again in the phase of full professionalization when new customers perceive participation history inaccessible. In this case, they are prone to switch to new methods of service application – in the case of e-sport vs. sports to new content and more modern methods of its delivery. In a wider context, the findings in the paper support the idea of a life cycle of services regarding methods of their application from “traditional” to digitalized.

Keywords: agent-based modeling, digitalized services, e-sport, spectators motives

Procedia PDF Downloads 147

Authors: Yusarina Mat-Isa, Zuraidah Mohd-Sanusi, Mohd-Nizal Haniff, Paul A. Barnes

Abstract:

In view that money laundering has become eminent for banking institutions, it is an obligation for the banking institutions to adopt a risk-based approach as the integral component of the accepted policies on anti-money laundering. In doing so, those involved with the banking operations are the most critical group of personnel as these are the people who deal with the day-to-day operations of the banking institutions and are obligated to form a judgement on the level of impending risk. This requirement is extended to all relevant banking institutions staff, such as tellers and customer account representatives for them to identify suspicious customers and escalate it to the relevant authorities. Banking institutions staffs, however, face enormous challenges in identifying and distinguishing money launderers from other legitimate customers seeking genuine banking transactions. Banking institutions staffs are mostly educated and trained with the business objective in mind to serve the customers and are not trained to be “detectives with a detective’s power of observation”. Despite increasing awareness as well as trainings conducted for the banking institutions staff, their competency in assessing money laundering risk is still insufficient. Several gaps have prompted this study including the lack of behavioural perspectives in the assessment of money laundering risk in the banking institutions. Utilizing experimental approach, respondents are randomly assigned within a controlled setting with manipulated situations upon which judgement of the respondents is solicited based on various observations related to the situations. The study suggests that it is imperative that informed judgement is exercised in arriving at the decision to proceed with the banking services required by the customers. Judgement forms a basis of opinion for the banking institution staff to decide if the customers posed money laundering risk. Failure to exercise good judgement could results in losses and absorption of unnecessary risk into the banking institutions. Although the banking institutions are exposed with choices of automated solutions in assessing money laundering risk, the human factor in assessing the risk is indispensable. Individual staff in the banking institutions is the first line of defence who are responsible for screening the impending risk of any customer soliciting for banking services. At the end of the spectrum, the individual role involvement on the subject of money laundering risk assessment is not a substitute for automated solutions as human judgement is inimitable.

Keywords: banking institutions, experimental approach, money laundering, risk assessment

Procedia PDF Downloads 233

Authors: Amal Ezzidani, Abdelghani Ben Tahar, Mohamed Hanini

Abstract:

A sequence of finite tandem queue is considered for this study. Each one has a single server, which operates under the egalitarian processor sharing discipline. External customers arrive at each queue according to a renewal input process and having a general service times distribution. Upon completing service, customers leave the current queue and enter to the next. Under mild assumptions, including critical data, we prove the existence and the uniqueness of the fluid solution. For asymptotic behavior, we provide necessary and sufficient conditions for the invariant state and the convergence to this invariant state. In the end, we establish the convergence of a correctly normalized state process to a fluid limit characterized by a system of algebraic and integral equations.

Keywords: fluid limit, fluid model, measure valued process, processor sharing, tandem queue

Procedia PDF Downloads 292

Authors: Veepaul Kaur Mann Balwinder Singh

Abstract:

The COVID-19 had an intense impact on several countries across the world. National governments have imposed widespread restrictions to prevent the growth of this pandemic. The new health competitive scenario induced by the COVID-19 crisis raised many issues on how business activities should be reorganized due to the difficulties of physical interactions with distributors, suppliers and customers. The pandemic has particularly affected the whole selling process because of the relevant issues that emerged in managing physical sale channels and interactions with one another, both in the Business-to-Consumer and in the Business-to-Business markets. Recent research about the appropriate actions and strategies that could help firms overcome the crisis has highlighted the key role of digital expertise that may ensure connections and, thus, help business activities run smoothly. This could be true, especially with the occurrence of strong limitations on physical interactions during the COVID-19 pandemic. The catastrophe changes life publically and economically. People are living alone for following the social distancing norms. In that set-up, Digital Marketing is playing an important role in civilization. Anyone can buy any item, pay bills, transfer money and compare items through Digital Marketing without physical interactions. After COVID-19, people will be more aware of health safety and trust. So, through Digital Marketing, organizations can approach customers and provide good service environments. In such a situation, the online network becomes the most important encouraging for online customers to get in contact with the firm and carry out online selling and purchasing activities around the world.

Keywords: COVID-19, business, digital marketing, online customer

Procedia PDF Downloads 25

Authors: Sujui Yang, Peeraya Somsak, Markus Blut

Abstract:

This research examines the international tourists in Chiang Mai, Thailand. It aims to study non-Thai tourists’ of this region to better understand their behavior and motives influencing the choice of cultural heritage tourists in Chiang Mai, Thailand. The data includes questionnaires of 250 tourists in the study area. The most important motives influencing decisions choices are several concerning customers’ perspectives on tourist destinations in cultural heritage in Chiang Mai province. Thai tourists in Chiang Mai are single, 72.5 percent are in the age of 21-40 years old and 50% of sample group are from central and northern of Thailand. Tourists’ motives capture the factor loading as well as the corresponding show 5 components: relaxation motives, place/ physical motives, learning motives, image motives, and achievement motives.

Keywords: tourists motives, cultural heritage, Chiang Mai, customers’ perspectives

Procedia PDF Downloads 356

Authors: Suman Podder

Abstract:

As Australian ‘Open Banking’ allows customers to share their financial data with accredited Third-Party Providers (‘TPPs’), it is necessary to evaluate whether the regulators have achieved the balance between protecting customer data privacy and promoting data-related innovation. Recognising the need to increase customers’ influence on their own data, and the benefits of data-related innovation, the Australian Government introduced ‘Consumer Data Right’ (‘CDR’) to the banking sector through Open Banking regulation. Under Open Banking, TPPs can access customers’ banking data that allows the TPPs to tailor their products and services to meet customer needs at a more competitive price. This facilitated access and use of customer data will promote innovation by providing opportunities for new products and business models to emerge and grow. However, the success of Open Banking depends on the willingness of the customers to share their data, so the regulators have augmented the protection of data by introducing new privacy safeguards to instill confidence and trust in the system. The dilemma in policymaking is that, on the one hand, lenient data privacy laws will help the flow of information, but at the risk of individuals’ loss of privacy, on the other hand, stringent laws that adequately protect privacy may dissuade innovation. Using theoretical and doctrinal methods, this paper examines whether the privacy safeguards under Open Banking will add to the compliance burden of the participating financial institutions, resulting in the undesirable effect of stifling other policy objectives such as innovation. The contribution of this research is three-fold. In the emerging field of customer data sharing, this research is one of the few academic studies on the objectives and impact of Open Banking in the Australian context. Additionally, Open Banking is still in the early stages of implementation, so this research traces the evolution of Open Banking through policy debates regarding the desirability of customer data-sharing. Finally, the research focuses not only on the customers’ data privacy and juxtaposes it with another important objective of promoting innovation, but it also highlights the critical issues facing the data-sharing regime. This paper argues that while it is challenging to develop a regulatory framework for protecting data privacy without impeding innovation and jeopardising yet unknown opportunities, data privacy and innovation promote different aspects of customer welfare. This paper concludes that if a regulation is appropriately designed and implemented, the benefits of data-sharing will outweigh the cost of compliance with the CDR.

Keywords: consumer data right, innovation, open banking, privacy safeguards

Procedia PDF Downloads 116

Authors: David Broussard

Abstract:

This review article delves into the realm of marine conservation finance, addressing the inadequacies in current financial streams from the private sector and the underutilization of existing financing mechanisms. The study emphasizes the emerging field of “blue finance”, which contributes to economic growth, improved livelihoods, and marine ecosystem health. The financial burden of marine conservation projects typically falls on philanthropists and governments, contrary to the polluter-pays principle. However, the private sector’s increasing commitment to NetZero and growing environmental and social responsibility goals prompts the need for alternative funding sources for marine conservation initiatives like marine protected areas. The article explores the potential of utilizing several financing mechanisms like carbon credits and other forms of payment for ecosystem services in the marine context, providing a solution to the lack of private funding for marine conservation. The methodology employed involves a systematic and quantitative approach, combining traditional review methods and elements of meta-analysis. A comprehensive search of the years 2000 - 2023, using relevant keywords on the Scopus platform, resulted in a review of 252 articles. The temporal evolution of blue finance studies reveals a significant increase in annual articles from 2010 to 2022, with notable peaks in 2011 and 2022. Marine Policy, Ecosystem Services, and Frontiers in Marine Science are prominent journals in this field. While the majority of articles focus on payment for ecosystem services, there is a growing awareness of the need for holistic approaches in conservation finance. Utilizing bibliometric techniques, the article showcases the dominant share of payment for ecosystem services in the literature with a focus on blue carbon. The classification of articles based on various criteria, including financing mechanisms and conservation types, aids in categorizing and understanding the diversity of research objectives and perspectives in this complex field of marine conservation finance.

Keywords: biodiversity offsets, carbon credits, ecosystem services, impact investment, payment for ecosystem services

Procedia PDF Downloads 49

Authors: Daniel Muwooya

Abstract:

This paper analyses economic factors that have affected the competitiveness of petroleum refinery and petrochemical projects in sub-Saharan Africa in the past and continue to plague greenfield projects today. Traditional factors like plant sizing and complexity, low-capacity utilization, changing regulatory environment, and tighter product specifications have been important in the past. Additional factors include the development of excess refinery capacity in Asia and the growth of renewable sources of energy – especially for transportation. These factors create both challenges and opportunities for the development of greenfield refineries and petrochemical projects in areas of increased demand growth and new low-cost crude oil production – like sub-Saharan Africa. This paper evaluates the strategies available to project developers and host countries to address contemporary issues of energy transition and the apparent reduction of funds available for greenfield oil and gas projects. The paper also evaluates the structuring of greenfield refinery and petrochemical projects for limited recourse project finance bankability. The methodology of this paper includes analysis of current industry data, conference proceedings, academic papers, and academic books on the subjects of petroleum refinery economics, refinery financing, refinery operations, and project finance generally and specifically in the oil and gas industry; evaluation of expert opinions from journal articles; working papers from international bodies like the World Bank and the International Energy Agency; and experience from playing an active role in the development and financing of US$ 10 Billion greenfield oil development project in Uganda. The paper also applies the discounted cash flow modelling to illustrate the circumstances of an inland greenfield refinery project in Uganda. Greenfield refinery and petrochemical projects are still necessary in sub-Saharan Africa to, among other aspirations, support the transition from traditional sources of energy like biomass to such modern forms as liquefied petroleum gas. Project developers and host governments will be required to structure projects that support global climate change goals without occasioning undue delays to project execution.

Keywords: financing, refinery and petrochemical economics, Africa, project finance

Procedia PDF Downloads 37

Authors: Joseph Paul Chunga

Abstract:

The investment universe is awash with a myriad of financial choices that investors have to opt for, which principally culminates into a duality between aggressive or conservative approaches. Howbeit, it is pertinent to emphasize that the investment vehicles with an aggressive approach tend to take on more risk than the latter group in an effort to generate higher future returns for their respective investors. This study examines the conditionality effect that such partiality in financing has on the High-Tech and Public Utility companies listed on the Shenzhen Stock Exchange (SSE). Specifically, it examines the significance of the relationship between capitalization ratios of Total Debt Ratio (TDR), Degree of Financial Leverage (DFL) and profitability ratios of Earnings per Share (EPS) and Returns on Equity (ROE) on the Financial Risk of the two industries. We employ a modified version of the Panel Regression Model used by Rahman (2017) to estimate the relationship. The study finds that there is a significant positive relationship between the capitalization ratios on the financial risk of Public Utility companies more than High-Tech companies and a substantial negative relationship between the profitability ratios and the financial risk of the former than the latter companies. This then spells an important insight for prospective investors with regards to the volatility of earnings of such companies.

Keywords: financial leverage, debt financing, conservative firms, aggressive firms

Procedia PDF Downloads 134

Authors: Anocha Rojanapanich

Abstract:

This research aimed to identify important factors that effect customer satisfaction in boutique hotels and the important factors effecting customer loyalty in returning to boutique hotels. Furthermore, this study also aimed to study demographics, which effect variable factors. Four hundred questionnaires were completed by customers of the boutique hotels. The descriptive statistics used in this paper were percentages, means, and standard deviation (S.D.), while hypothesis testing was done using T-test, Anova, Correlation and Regression to analyze the relationship among those factors. In terms of the purpose in staying, it was found that the largest respondent was for ‘leisure purposes’. While the frequency indicated that most of the customers who stayed ‘once’in the last two years in the hotels had less concern in the hotel’s image than other groups. For customer’s perceived value and income levels had an influence on customer perceived values in both functional value price and emotional value.

Keywords: boutique hotels, customer attitude, customer satisfaction, customer loyalty

Procedia PDF Downloads 282