Acreage response in Pakistan: a co-integration approach

This paper seeks to quantify the acreage responses of wheat, cotton, sugarcane and rice in Pakistan using co‐integration techniques and impulse response analysis. Results indicate that acreages of wheat and basmati rice do not respond significantly to shocks in own‐price while cotton, sugarcane and high yielding variety (HYV) rice do, and that long‐run equilibrium is re‐established after about 4 years. Irrigated area is an important determinant of acreage.     

Development of a service quality model for academic libraries

The purpose of this research is to develop a model for the measurement of library service quality. 1629 students studying in different universities and degree awarding institutions responded to a survey. Confirmatory factor analysis developed a valid and reliable service quality measurement scale with 6 dimensions and 30 items. This research contributes to the measurement of service quality by developing a valid and reliable measurement scale in a previously neglected population. The model developed in this research can be used by librarians to measure, control and improve the service quality provided to students. This research also provides a framework for researchers to develop further library service quality scale development studies so that more concrete generalizations can be made.     

Revisiting the environmental kuznets curve hypothesis: evidence from the ASEAN-5 countries with structural breaks

This paper tests if the Environmental Kuznets Curve (EKC) hypothesis exists for ASEAN-5 countries in an annual sample data that covers 1971–2013, by utilizing Auto Regressive Distributed Lag (ARDL) methodology. The empirical findings give support for the EKC hypothesis for Thailand only, after considering the structural breaks. Furthermore, the paper tests the EKC hypothesis for a panel data of the ASEAN-5 by adopting the Pooled Mean Group (PMG) methodology. The results show that the long-run estimates provide no evidence for the EKC hypothesis. Finally, the paper examines the causality between the CO₂ emissions and GDP. For individual countries, bidirectional causality was found in the case of Thailand and Malaysia, plus unidirectional causality running from GDP and squared GDP to CO₂ emissions was found for Indonesia, but a unidirectional causality running from CO₂ emissions to GDP and squared GDP was found for the Philippines, however, no causality effect was found for Singapore. Furthermore, the pairwise Dumitrescu and Hurlin Panel Causality test show a bidirectional effect between CO₂ emissions and both GDP in addition to squared GDP.     

Agricultural exports and economic growth in Pakistan: an econometric reassessment

Agriculture sector works as backbone of Pakistan economy. In this modern era, exports work as locomotive of growth train. Pakistan earned a handsome amount through exports of agricultural raw material and refined products. This research investigates that either there is unidirectional or bidirectional association between agricultural exports and economic growth in Pakistan? For empirical investigation of relationships between economic growth and agricultural exports in Pakistan this study used most reliable econometric estimation tools, augmented Dickey–Fuller unit root test, Johansen co-integration and Engle–Granger causality tests for 45 time series annul observations from 1970 to 2014. This research winds up that Pakistan’s agricultural exports have positive but insignificant association with gross domestic product growth. It is due to the primary and raw material agricultural products exports which cannot compete in international markets due to close competitions, lower quality and dearer price. Consequently, receive a trifling amount as exports earnings; contribute slightly in national economic growth.     

How do foreigners perceive? Exploring foreign diners’ satisfaction with service quality of Chinese restaurants

China has received 138 million inbound trips in 2016. The purpose of travel may vary but these international travelers visit Chinese restaurants as an integral part of their travel experience. Our study tries to comprehend their dining experience and regional differences in service quality (SQ) perceptions. The findings indicate that food and process quality significantly influence satisfaction and behavioral intentions. More importantly, the results reveal that international travelers roving through all the six continents hold significantly different perceptions regarding SQ attributes of Chinese restaurants. Additionally, we found proficiency in Chinese language as a significant contributor in generating dissimilar perceptions.     

Investigating the determinants of domestic bonds: the role of socio-economic and institutional factors

This article investigates the determinants of the size of domestic bond market using economic, social and institutional factors. We expand the body of existing literature by suggesting that economic and social environment as well as institutional settings vary between developed and emerging economies. The article uses recent data from a wide range of countries, incorporates a variety of macroeconomic variables, social indicators and institutional factors to reassess the determinant of domestic bond markets. Robustness of the empirical analysis is established through both two-stage least squares and generalized method of movements techniques. The results of this article show that the size of the economy, breadth and depth of the banking system, the monetary policy stance, the degree of openness, the level of corruption, the degree of civil liberty and status of market access to investors, all play a crucial role in the determination of the size of the domestic bond market. We also find differences across developed and emerging market samples. The results are robust to different specifications and the corresponding estimation techniques.     

Predictability,Price Bubbles,and Efficiency in the Indonesian Stock-Market

I examine the return predictability of the Indonesian stock-market during 1984–2016, in rolling windows, using an automatic portmanteau test and an automatic variance ratio. I find that the market’s efficiency and predictability vary over time—consistent with the adaptive market hypothesis—with returns being less predictable in recent periods, a sign of improving efficiency. I also find that a simple buy-and-hold investment strategy outperforms several technical trading rules, even after adjusting for risk. Furthermore, I find evidence of explosive behaviour in Indonesian stock prices and detect multiple bubbles, using sequential right-tailed unit-root tests.     

Monitoring a common agent: Implications for financial contracting

Multiple principals want to obtain income from a privately informed agent and design their contracts non-cooperatively. The degree of coordination between principals shapes the contracts and affects the amount of monitoring. Equity-like contracts and excessive monitoring emerge when principals coordinate or verify each other's monitoring efforts. When this is not possible, free riding weakens monitoring incentives, so that flat payments, debt-like contracts, and very low levels of monitoring appear. Free riding may be so strong to induce even less monitoring than if the principals cooperated with each other; that is, non-cooperative monitoring does not necessarily lead to excessive monitoring.     

Physicians’ views on pay-for-performance as a reimbursement model: a quantitative study among Dutch surgical physicians

Objectives:

To assess the views, knowledge, and experience of Dutch physicians with regard to the general objectives and values of the pay-for-performance (P4P) system, as the Dutch healthcare industry might find it useful, in terms of governance, to explore this approach further.

Methods:

A quantitative cross-sectional survey study was conducted among 48 physicians in surgical specialties in the Netherlands between May 2014 and July 2014. The survey questionnaire was designed to gather information regarding the intensity of feelings, on a 7-point Likert scale, toward statements that address the P4P system. Confidence intervals were calculated using the bootstrap technique with 1000 iterations.

Results:

Physicians see a positive value in P4P for their organizations rather than for personal attainment (mean?=?5.00; 95% CI?=?4.62–5.39), even though they feared that P4P might put financial pressure on them (mean?=?5.03; 95% CI?=?4.50–5.54). They strongly share the view that other colleagues will resist adopting P4P as a business model (mean?=?5.74; 95% CI?=?5.43–6.04). Respondents stated that they would not leave their current jobs if P4P were to be incorporated in their organization.

Conclusions:

Physicians see value in P4P for their organizations, and consider that P4P could provide an incentive for improving medical outcomes. There seems to be potential for the P4P system in the Netherlands as participants expressed positive support for its values. There is an intersection of interests between the value of P4P and the physicians’ aim of achieving quality outcomes; however, further studies would be needed to investigate perceptions about specific design features in a larger sample. In addition, prior to implementing P4P, broad education about the system should be provided in order to counteract pre-conceptions and prevent resistance.