An econometric approach to estimating support prices and measures of productivity change in public hospitals

In industry sectors where market prices for goods and services are unavailable, it is common to use estimated output and input distance functions to estimate rates of productivity change. It is also possible, but less common, to use estimated distance functions to estimate the normalised support (or efficient) prices of individual inputs and outputs. A problem that arises in the econometric estimation of these functions is that more than one variable in the estimating equation may be endogenous. In such cases, maximum likelihood estimation can lead to biased and inconsistent parameter estimates. To solve the problem, we use linear programming to construct a quantity index. The distance function is then written in the form of a conventional stochastic frontier model where the explanatory variables are unambiguously exogenous. We use this approach to estimate productivity indexes, measures of environmental change, levels of efficiency, and support prices for a sample of Australian public hospitals.     

Green financing for sustainable development: Insights from multiple cases of Vietnamese commercial banks

Although the public sector is seen as the main party responsible for taking action on climate change and sustainable development, private commercial banks are in a unique position to support or shift the funding focus on green investment. By employing a qualitative research approach based on six commercial banks, this paper aims to investigate the current practices of how commercial banks are contributing to advance green business initiatives. Accordingly, this research examines and identifies the facilitators and challenges in domestic and foreign commercial banks in Vietnam which support green business initiatives. In addition to addressing the recent calls for the investigation of the role of commercial banks in facilitating green finance, our study expands the emerging literature by demonstrating the current efforts of Vietnam's commercial banks in fostering green finance during the Covid-19 pandemic.     

Cost and time savings from a rapid access model of care using transient elastography to screen and triage patients with chronic Hepatitis C infection

Background:

Treatment uptake amongst patients with chronic Hepatitis C virus (HCV) in Australia is relatively low. New approaches to assessment have the potential to reduce public waiting lists, improve access to treatment, and to reduce healthcare costs.

Aim:

To describe the costs to the public hospital system and waiting time associated with a novel integrated rapid access to assessment and treatment (RAAT) model of care that utilizes Transient Elastography (TE) as a specialist outpatient-based approach for a streamlined assessment of patients with chronic HCV, compared to conventional outpatient management with liver biopsy (LB).

Methods:

Time from first medical review to treatment plan and costs associated with detection of fibrosis were recorded for patients receiving RAAT during a 3-month period, and for a similar historical cohort managed conventionally with LB. Costs related to medical and multidisciplinary team reviews and the TE/LB test itself were included.

Results:

Patients receiving RAAT had lower costs (n?=?27, median AU$2716) and shorter time to treatment (median?=?194 days) than for conventional management (n?=?13, median $5005, 420 days; p?Conclusions:

Based on real world audit data, this evaluation suggests TE, used as part of a new RAAT model of care, is cost saving to the health system in the short-term and reduces waiting times. The analysis reported here was intended to assess the costs related to detection of fibrosis, and is limited by the small sample size and potential selection bias. Future research should undertake a full economic evaluation at a whole of service level, to consider a more comprehensive and longer-term assessment of the costs and benefits associated with HCV management.     

Intermarket sweep order trade size clustering around corporate announcements

Investors have different trade size preferences depending on their information advantage. Using intermarket sweep orders (ISOs), we find that investors appear to prefer using small, round lot trades around corporate events with higher announcement frequency and more predictable timing, such as earnings announcements. Around these corporate events, information is revealed, and analyst estimates are confirmed or rejected. Conversely, share repurchase announcements happen less frequently and the timing of these announcements are unpredictable. Relative to earnings announcements, share repurchase announcements create more uncertainty than they resolve. We find that when investors have less information, they tend to use costlier, larger trade size multiples. We further support the extant finding that trade sizes are smaller with the advent of high-frequency trading.     

Asymmetric responses of house prices to changes in the mortgage interest rate: evidence from the Australian capital cities

We examine the dynamic and asymmetric responses of house prices to changes in mortgage interest rates in Australia from January 1995 to November 2017. We propose a threshold intervention model to distinguish between the effects of positive versus negative changes in the standard variable interest rate. The results indicate that rising interest rates decrease house prices more than falling interest rates increase them. For example, a 1% decrease in interest rates increases Sydney’s house prices by 0.7%, whereas a 1% increase leads to a 1.5% fall. The findings also support the view that when interest rates are on the rise, house prices in larger capital cities such as Sydney and Melbourne fall faster than in their smaller counterparts. Our findings imply that a rise in interest rates may thus lead to sharp, fast and significant falls in house prices, a phenomenon which will not simply be a symmetric unwinding of earlier price increases.     

How middle managers' group‐focus emotions and social identities influence strategy implementation

The literature on top‐down strategy implementation has overlooked social‐emotional factors. The results of a three‐year field study of a large technology firm show how top executives who favor an affect neutral task approach can inadvertently activate middle managers' organization‐related social identities, such as length of time working for the company (newcomers versus veterans) and language spoken by senior executives (English versus French), generating group‐focus emotions. These emotions prompt middle managers—even those elevated to powerful positions by top executives—to support or covertly dismiss a particular strategic initiative even when their immediate personal interests are not directly under threat. This study contributes to the strategy implementation literature by linking senior executives' actions and middle managers' social identities, group‐focus emotions, and resulting behaviors to strategy implementation outcomes. Copyright © 2011 John Wiley & Sons, Ltd.     

Impact of exchange rates on ASEAN's trade in the era of global value chains: An empirical assessment

ABSTRACT

Exchange rate risk remains a key concern for export-oriented economies in Southeast Asia. Traditionally, export performance is thought to be adversely affected by exchange rate appreciation and high exchange rate volatility. Nonetheless, in the context of global value chains where export production relies heavily on imported inputs, the trade effects of exchange rate may be weakened. Using the OECD-WTO Trade in Value-added (TiVA) database, this paper seeks to tease out the association between exchange rate movements, volatility and aggregate exports of goods and services among ASEAN economies. More importantly, it investigates whether integration into GVCs affects these relationships. Applying panel regression techniques to a sample of eight ASEAN countries over the period 1995–2011, we found that high share of foreign value added (FVA) embodied in exports almost completely offsets the negative effect of an appreciation in the real effective exchange rate (REER) on real gross exports. At the same time, high FVA share also dampens the negative association between exports and increased REER volatility.     

Attitude toward and Consumption of Fish in Vietnam

This study uses theory of planned behaviour (TPB) as a conceptual framework to investigate the attitude and intention toward the consumption of fish in a cross-sectional survey of Vietnamese consumers. Structural equation modelling (SEM) is used to test the reliability, validity, and relationships in the proposed model. The results show that the variation in the frequency of fish consumption is significantly explained by intention and perceived behavioural control. Intention to consume fish is significantly determined by subjective norms and attitude toward consuming fish as a meal. Perceived behavioural control is significantly related to fish consumption, but not to the intention to consume fish, indicating that there may be a difference between perceived control and actual control. At the specific-belief level, the study found that negative affect, perceived quality, and price are significant indicators that explain 60% of the variation in attitude. Perceived price, time needed to cook and prepare fish as a meal, and the availability of fresh fish are important factors explaining 63% of the variation of the perceived control over fish consumption. The study also provides some managerial implications and suggestions for the seafood sector to expand the domestic markets and gives recommendations for future research.     

Good Morning,Vietnam! Opportunities and Challenges in a Developing Franchise Sector

Until recently the development of franchising in Vietnam was hampered by a regulatory framework that did not recognize franchising as a discrete business relationship. The introduction of Vietnam's Franchise Law in 2005 provided, for the first time, a legal foundation for franchising, which was a necessary prerequisite for sector development. Although there are currently few business format franchise systems operating in Vietnam, there is an increasing presence of established international franchise systems and increasing numbers of local systems albeit at an early “product distribution” evolutionary stage. Moreover, the commercial environment for franchising is increasingly favorable: Vietnam is the fastest growing Asian economy after China and India and is experiencing strong gross domestic product growth and annual retail growth. This article addresses the development of franchising, and the challenges and opportunities for franchisers in Vietnam.     

Measurement of Modern and Traditional Self-Concepts in Asian Transitional Economies

This article describes the development and validation of a new consumer self-concept scale created for use in Confucian societies whose economies formerly were centrally planned but are now moving toward a free-market system. Traditional self and modern self are proposed to be the two subconstructs of the perceptions of self. The empirical work involved with the scale development and validation using data from Vietnam and China are presented. Managerial implications and future research directions are also discussed in this article.