Contingent Value Research Articles

The contingent value of managerial ties for new ventures during China’s anti-corruption campaign

ABSTRACT The tie-based non-market strategy has been widely adopted by new ventures to gain a competitive advantage in China. However, the recent anti-corruption campaign may have profound influences on business practices, particularly on the utilization or leveraging of managerial ties for improving firm performance. This study explored the critically important but fairly underexplored research question of whether managerial ties continue to create value for new ventures under China’s anti-corruption campaign. Based on a sample of Chinese listed firms consisting of new ventures, this study found that business ties and political ties have produced divergent effects on the performance of new ventures since China’s anti-corruption campaign took effect. Moreover, a wider coverage or scope of anti-corruption increased the benefits of business ties and political ties, while a higher intensity of anti-corruption facilitated the role of anti-corruption scope on increasing the benefits of managerial ties for better performance of new ventures.

Theoretical and Practical Issues of Research on the Consumption Needs for Safe Foods in Vietnam Using the Willingness to Pay Model

Research on consumer needs for safe foods under the willingness to pay (WTP) approach based on consumer behavior has been performed widely and has contributed greatly to the development of safe foods, assisted enterprises’ decision-making processes in improving agricultural and food products, and provided orientation to policymakers in improving public health as well as in fostering sustainable economic growth. Some of the methods used for measuring WTP for safe foods, such as contingent value (CV), choice experiment (CE), and auction experiment (AE), have made significant contributions to the evaluation of consumers’ WTP for food safety. Moreover, the application of these models has helped to estimate the effects of many factors such as demography, consumer habits, continuation of food safety, individual characteristics, promotion, and product attributes, etc., on the WTP for food safety. The trend of safe food consumption in Vietnam has distinct characteristics, some of which come from national cultural identities; therefore, Vietnamese researchers may approach the empirical studies on this issue all over the world in order to find proper methods for studying consumer needs for safe foods in Vietnam.

Alliance Governance Mechanisms in the Face of Disruption

Existing academic literature has discussed contracts and relational governance as the key mechanisms that help alliance partners address problems of cooperation and coordination. However, when an alliance undergoes disruption, the nature and extent of such problems may change and therefore the value of these mechanisms may change. This study advances a dynamic perspective on alliance governance by examining the impact of disruption and subsequent adjustment on the value of alliance governance mechanisms. To this end, we longitudinally studied a revelatory case of a research and development alliance in the veterinary drug industry that experienced disruption triggered by an internal restructuring at one of the partner companies. We approached the evidence with a fine-grained typology that builds on two dimensions that underlie governance mechanisms: the means to enforce their ruling principles (contractual versus relational) and the level of codification of these principles (formal versus informal). Based on our findings, we (1) show the significance of this revised typology, which suggests that contractual governance is not necessarily formal and relational governance is not necessarily informal; (2) provide a more systematic discussion of the tradeoffs that the various mechanisms entail and how these are altered through disruption and adjustment dynamics; and (3) analyze how the interplay between different types of governance mechanisms evolves following disruption and adjustment. Overall, our study brings the concept of disruption to the dynamic perspective of alliance governance and highlights the contingent value of alliance governance mechanisms.

Economic valuation of coal mine reclamation kandih, sawahlunto regency, west sumatera

Reclamation of post coal mining area in Kandih, Sawahlunto Regency needs to be conducted with concern for environmental sustainability and local economic growth. This study was aimed at determining the economic valuation use and non-use of the reclamation of the post coal mining area in Kandih with the approach of willingness to pay (WTP). The research was conducted in the concession land area of post coal mining in Kandih, West Sumatera. Primary data were collected by dialog tourism, the mining company, and regional government office. The study sample consisted of tourists, community and business actors. Data analysis methods used include Travel Cost Method, Contingent Value Method with Willingness to pay approach. The assessment of WTP used open-end questionnaire. The results show that the value of Reclamation of post coal mining area in Kandih, Sawahlunto Regency identified four variables consisting of the economic value of tourism activity, the economic value of the products and services and economic value of conservation, economic value of satisfaction to tourist area. Valuation of economic value of use and non-use of of the reclamation of the post coal mining area in Kandih, Sawahlunto Regency is Rp 6.911.318.865,00,-.

The contingent effects of coopetition on new product development under dual institutional interactions: evidence from China

PurposeIntegrating the coopetition perspective with institutional theory, this study aims to determine how balanced patterns (BPs) and combinative patterns (CPs) of coopetition impact firms’ new product development (NPD) and how these effects are contingent on the various types of interactions between firms and the institutional environments in which they are embedded.Design/methodology/approachTo test the hypotheses, 303 firms in China were surveyed. Based on the responses, the proposed model was estimated using structural equation modeling and hierarchical regression analysis.FindingsThe findings indicate that CP of coopetition enhances NPD but a BP of coopetition impedes NPD. Further, the results suggest that obtaining government support positively moderates the effect of the CP on NPD but negatively moderates the effect of the BP. Conversely, influencing government policy negatively moderates the effect of the CP but positively moderates that of the BP on NPD.Research limitations/implicationsThe findings indicate that different patterns of inter-firm coopetition may have different effects on NPD, thus, providing a holistic and dynamic understanding of the contingent value of coopetition for NPD. The findings also suggest that the complex effects of coopetition on NPD are influenced by institutional interactions, introducing further contingencies to the process of coopetition-based innovation.Practical implicationsThis study provides guidelines for managers seeking to fully understand and capitalize on the dual nature of coopetition: they should be cautious about the different patterns of competition – cooperation interaction and manage their interactions with institutional environments to increase the benefits and avoid the potential damage that different types of coopetition may bring.Originality/valueThis study offers direct insights into the balanced nature of coopetition and opens up an avenue for further exploration of the specific effects of cooperation dominance and competition dominance on firm performance in the business-to-business context. Moreover, the proposed contingency model offers a potential interface between institutional and coopetition research on NPD in marketing and strategic fields.

Scientific research on ecosystem services and human well-being: A bibliometric analysis

Ecosystem services and human well-being have received increasing scientific interest owing to their importance in influencing sustainability. Yet, quantitative and visual analyses of the scientific literature on ecosystem services and human well-being remain scarce. Here, we explored the scientific literature on ecosystem services and human well-being at a global scale to investigate the temporal development, scientific collaboration, research hotspots and emerging trends over the last 27 years (1992–2018) using CiteSpace. The number of publications has substantially increased since the Millennium Ecosystem Assessment (MA). The majority of publications (79.86%) were occurred during the period of 2013–2018, with Ecosystem Services being the dominant journal and most research originating from the USA, England and Australia. And the Chinese Academy of Sciences was the most productive institution. The top-ranking category was environmental sciences. Much more work is needed to strengthen the cohesion among environmental, economic and social science in this field. Three key research themes prevailed: biodiversity, conservation, and management. The hotspots of early studies focused on the descriptive and quantitative analysis of ecosystem services, including “contingent value”, “model” and “dynamics”. The emerging active topics were“poverty alleviation”, “cultural ecosystem service”, “perception” and“green infrastructure”. Integrative research on socio-cultural and biophysical dimensions is expected to be used to increasingly support policymaking in the future. The assessment of subjective well-being, the relations between supply-demand and human well-being and sustainable management represent challenging areas for future research on ecosystem services and human well-being.

Willingness to pay for air quality improvement in Ho Chi Minh City, Vietnam

This research aimed to estimate people’s willingness topay (WTP) to improve air quality in Ho Chi Minh City (HCMC), Vietnam. Contingent value method (CVM), the single bounded dichotomous choice question format, was employed. Five levels of bid were used, including 10,000; 20,000; 30,000; 40,000; 50,000 VND. A survey was conducted with 600 people, distributed in 8 districts. The results showed that people had limited perception on specific terms, but they understood the phenomenon and the consequence of air pollution. The mean willingness to pay (MWTP) for air quality improvement was 19,147.06 VND/person per month (0.83 USD/person per month) (with protesters) and28,157.01 VND/person per month (1.22 USD/person per month) (without protesters). The total budget that would be used for air protection in HCMC was 86,927,652,400VND/month (3,779,463.15 USD/month) (with protesters) and 127,832,825,400 VND/month (5,557,557.62 USD/month)(without protesters). The income, education level and bid level were the factors affecting their WTP

A Review on Importance of Contingent Value in Pharma Sector

In comparison to other health economists' methods for benefit calculation, Contingent valuation (CV) was argued to theoretical benefits. However, in practice, as applicable to healthcare concerns, it seems that methodology has not analyzed benefits, as its impact on national decision making in medical sector has still not been exercised. This is not due to continued thriving methodological lack study in this field. It is product, somewhat unorganized and non-systematic, of such operations. To encourage analysts to reach beyond assessment of cost-effectiveness of offering a given degree of environmental products, there needs to be few ways of estimating benefit of supplying various degree of services compared to their costs. While other measures are feasible, such units are expressed more naturally in money terms. The major goal of pharmaceuticals is to enhance the economic value of pharmacy services. The contingent valuation (CV) provides a way to value importance of pharma services. The Contingent Valuation method provides benefit in terms of individual monetary amount provided by both product and services. The present paper provides a brief review about CV method, importance in raising economic value of pharmacy along with its implications. The review also provides some guidelines i.e. National Oceanographic and Atmospheric Administration (NOAA) that should be followed in order to raise the economic value.

Effect of Coordination on Employee Work Effectiveness in Nutrition and Pharmacy Installation

ABSTRACTIn a job, coordination is needed, because with good coordination the effectiveness of the work increases. The purpose of this study was to analyze the effect of coordination on the effectiveness of employee work in the Field of Support of the Regional General Hospital Dr. Sayidiman Magetan. The design of this study is analytical with a cross sectional approach. The total sample of 44 employees. The sampling technique in this study uses a nonprobability technique that is total sampling. The results showed that employees who had good coordination were 26 respondents (59.1%), who had less coordination of 18 respondents (40.9%), there were 31 respondents (70.5%) who worked effectively and 13 respondents (29.5 %) who work less effectively. By using the chi-square analysis shows the results, the value of ρ = 0,000 a = 0.05. The contingency coefficient value is 0.643. Contingency value of 0.643 is included in the strong category because it is in the range of 0.60 - 0.799. Staff coordination of 59.1% is good. The work effectiveness of 70.5% employees is effective. There is a coordinating effect on the effectiveness of the work of the Nutrition and Pharmacy Installation. All employees should work according to the SOP so that coordination and work effectiveness increases.

Old-Earth or Evolutionary Creation? Discussing Origins with Reasons to Believe and BioLogos

Old-Earth or Evolutionary Creation? Discussing Origins with Reasons to Believe and BioLogos

Comparison of Contingent Valuation and Travel Cost Methods to Estimate Outdoor Recreation Value of Recreation, Tourism and Aesthetic Function of Bamou National Park

Background and Objective: Valuation of functions and Non-Market services of environment are important for many reasons such as identifying and understanding the environmental and ecological benefits by humans, presentation of environmental issues to decision makers and planners, providing link between economic policies and natural revenues and assess the role and importance of environmental resources in support of human welfare and sustainable development. Methods: In this study, recreational value of Bamou Park is estimated and measured with using two methods of contingent value and travel cost. For this purpose, 315 questionnaires from visitor to extract the required data have been matched. Findings: Based on estimated results, variables: inhabitance, distance from park, first visit, number of visit, Deontologist, education, travel cost, visitors income, museum existence, and existence of Animal species such as deer, wolf, wild ram and cinereous vulture is effective variable on willingness to pay of visitor in 2011. Results show that monthly expected willingness to pay of consequentialist and deontologist visitors is 51397 and 61028 Rial respectively. Finally, recreational value of Bamou Park estimated in 2 methods is 1.085 and 1.975 Billion Rial respectively in 2011. Discussion and Conclusion: Since that travel cost method used market price information and revealed willingness to pay and also 90.7 percentages of visitors are Zone inhabitance and travel cost function was ideal form econometrics theoretical aspect, preferred using travel cost method instead of contingent value method to valuating the Bamou National Park in 2011.

Farmers' Willingness to Pay for Bio-slurry Fertilizer in Central Java

Bio-slurry is the residual product of biogas processing waste through the decomposition process without oxygen (anaerobic). Bio-slurry can be used as organic fertilizer for agricultural land. This study aims to: 1) assess the value of willingness to pay (WTP) for bio-slurry fertilizer, 2) find factors affecting farmer’s willingness to pay (WTP) of bio-slurry fertilizer. The research was carried out from January to February 2020 in Central Java. Determination of the location is purposive based on the farmers in Magelang and Demak Regency that have utilized biogas waste to be organic fertilizer and had been commercialized. Primary data were obtained from 80 farmers using purposive sampling, with the aid of questionnaire. Data analysis using contingent value method (CVM) to evaluate the farmer’s willingness to pay and logistic regression to analyze its determinant factors. The result showed that farmer’s willingness to pay (WTP) rate of bio-slurry fertilizer was IDR. 937,5/kg, which was above the market price. The determinant factors are farm income, education, price, and experience using organic fertilizer positively related to farmers’ willingness to pay bio-slurry fertilizer whereas land area negatively related to farmers’ willingness to pay bio-slurry fertilizer. The value of willingness to pay show the opportunity for bio-slurry fertilizer to survive in market by taking into account continuity of production and quality.

Does entrepreneurial experience always promote novelty-centered business model design in new venture?

PurposeThis paper aims to explore how intra-industry entrepreneurial experience and failure entrepreneurial experience affect novelty-centered business model design in a new venture. Moreover, the authors also consider whether the contingent value of entrepreneurial experience may differ according to competitive intensity.Design/methodology/approachA survey via questionnaire was conducted with 290 entrepreneurs and top managers from Chinese new ventures that provided the research data. Hierarchical regression analysis was used to test the proposed theoretical hypotheses.FindingsThe empirical results indicate that intra-industry entrepreneurial experience has an inverted U-shaped effect on novelty-centered business model design, whereas failure entrepreneurial experience has a negative effect on novelty-centered business model design. Furthermore, the authors also find that competitive intensity weakens the inverted U-shaped effect of intra-industry entrepreneurial experience on novelty-centered business model design.Originality/valueThis study offers new insights into the effects of intra-industry entrepreneurial experience and failure entrepreneurial experience on novelty-centered business model design and provides useful suggestions for new ventures to promote business model design.

Pragmatic Leadership Practices in Dangerous Contexts: High-Reliability Organizations (HRO) for Pandemic COVID-19

The threat of COVID-19 to professionals has become personal. Professionals in neonatal healthcare can acquire infection and unknowingly become a vector, infecting babies, and their colleagues. A pragmatic stance of leadership, derived from leadership in extremis, communicates to subordinates that leaders have their immediate well-being in mind while engaging in demanding situations. Effective leadership for ill-structured problems embedded in the environment has distinct characteristics such as modeling cognitive and affective skills (attitudes and the contingent value of information) and the ability to modulate emotional states. Pragmatic leaders effectively increase subordinates' collective stress capacity for, and leverage individual capabilities during, in extremis circumstances. This paper describes pragmatic leadership characteristics and practices derived from experience, primary sciences, and High Reliability Organizations (HRO).

Ethical Payment to Participants in Human Infection Challenge Studies, with a Focus on SARS-CoV-2: Report and Recommendations

To prepare for potential human infection challenge studies (HICS) involving SARS-CoV-2, this report offers an expert analysis of ethical approaches to paying research participants in these studies, as well as HICS more broadly. The report first provides an overarching ethical framework for research payment that divides payment into reimbursement, compensation, and incentive, focusing on fairness and promoting adequate recruitment and retention as counterweights to ethical concerns about undue inducement. It then describes variables relevant to applying this framework to any type of study, including the prospect of direct medical benefit, early participant withdrawal, study setting and location, pandemic circumstances, study budget, and participant perspectives. We conclude that there is no need for a unique payment framework specific to HICS or SARS-CoV-2 HICS, but that there may be features of particular relevance to ethical payment for these studies. Participants have varied motivations for enrolling in HICS, including financial considerations, altruism, and other interests, but undue inducement does not seem to be a significant problem based on available evidence. Payment in these studies should reflect the nature of participant confinement, anticipated discomfort from induced infection, risks and uncertainty, participant motivations, and the need to recruit from certain populations, as relevant. Where HICS involve significant risks and highly contingent social value, special review confirming the ethical permissibility of these studies can help promote confidence in the ethical permissibility of offers of payment to participate in them. We do not propose specific payment amounts for potential SARS-CoV-2 HICS, as these will be highly variable based on the relevant factors described in the report. Instead, we note that it is reasonable to start from payments offered in other similar studies, while adopting a systematic approach based on the ethical framework herein, as reflected in a pragmatic payment worksheet describing goals, coverage, factors to consider, and potential benchmarks.

The Contingent Value of Political Connections on Donations to Chinese Foundations: Exploring the Moderating Role of Transparency

Existing studies assume that the value of political connections is homogeneous to different types of nonprofits and seldom consider their interplay with other accountability mechanisms. Based on a multilevel analysis of 2,085 foundations in China, this study builds and tests a theoretical framework of the contingent value of political connections to nonprofits, treating transparency as a moderator for the relationship between political connections and donations. Our findings suggest that while transparency is positively associated with the amount of donations obtained by foundations, political connections can help foundations obtain more donations only when their transparency score is higher than a certain threshold.

Faultline Strength: The Contingent Value of TMT Cross-border Acquisition Experience

Research has shown that the acquisition experience of top management team (TMT) matters for internationalization in terms of cross-border acquisition speed and performance. However, the question of how acquisition experience takes effects during the TMT decision-making process remains less known. To bridge this gap, this study focuses on one of the most important team structural attributes – faultlines– to investigate how faultline strength affects acquisition experience accumulating and sharing among TMT members and thus influences the speed and quality of acquisition decisions. Using a sample of cross-border acquisitions conducted by 292 Chinese MNEs during 2003-2013, we found that the effects of TMT acquisition experience on future acquisition speed and quality depend upon TMT fautline strength. On the one hand, faultline strength weakens the positive impact of acquisition experience on subsequent acquisition frequency, on the other hand, it strengthens the positive effects of experience on the performance of future acquisitions.

Art of Adversity Thinking: Political Turnover and Innovation

By integrating political strategies literature and research on innovation, this study develops a theoretical framework and empirically test how and why political turnover affects corporate innovation. Facing political risks, information asymmetry and policy uncertainty created by political turnover, in addition to passively reducing the sense of existence, we argue that firms also use innovation as an attention-catching strategy to seek opportunities in uncertainty environment. Furthermore, we highlight how the uncertainty rooted in political turnover varies by identifying two kinds of contingent values: (1) politician’s career concerns and (2) firm’s political hierarchy. Using a longitudinal dataset of industrial enterprises above the scale in the context of China, we found that there is a significant positive relationship between political uncertainty and firm innovation. This is more likely to occur when new government leaders are promoted locally, while less salient if they are at the early career stage and firms are affiliated with higher hierarchies. Our research expands the literature on political uncertainty and innovation by highlighting the role of political agents, and improves our understanding of how firms strategically respond to political shocks in emerging economies.

KAJIAN POTENSI DAN PENGELOLAAN BERKELANJUTAN EKOSISTEM MANGROVE PULAU PANNIKIANG, KABUPATEN BARRU, SULAWESI SELATAN

Perencanaan dan pengelolaan yang baik hanya dapat dipenuhi apabila tersedia informasi yang lengkap dan akurat. Penelitian ini bertujuan untuk mengkaji potensi ekosistem mangrove di Pulau Pannikiang ditinjau dari kondisi ekologi dan nilai ekonomi untuk menilai status keberlanjutan dan menentukan rekomendasi pengelolaan ekosistem mangrove. Pengumpulan data ekologi, ekonomi, dan sosial dilakukan dengan metode observasi, wawancara dilakukan dengan metode purposive sampling, dan kajian literatur. Analisis ekologi menggunakan indeks nilai penting, analisis ekonomi menggunakan surplus consumer, replacement cost, contingent value, dan analisis keberlanjutan menggunakan modifikasi perangkat lunak Rapid Appraisal for Fisheries (RAPFISH). Jenis mangrove yang berhasil diidentifikasi adalah Rhizophora apiculata, Rhizophora mucronata, Bruguiera gymnorrhiza, Bruguiera sexangula, Ceriops tagal, Sonneratia alba, Xylocarpus granatum, Xylocarpus moluccensis, Aegiceras corniculatum, Lumnitzera racemosa and Avicennia marina. Hasil analisis nilai ekonomi total ekosistem mangrove di Pulau Pannikiang dengan luas 86,31 ha sebesar Rp5.050.275.373,00 /tahun atau rata-rata sebesar Rp58.513.212,00 /ha/tahun. Status keberlanjutan ekosistem mangrove di Pulau Pannikiang masih tergolong kurang berkelanjutan. Oleh karena itu, beberapa rekomendasi strategi yang disarankan adalah rehabilitasi vegetasi mangrove; mengendalikan kegiatan pemanfaatan ekosistem mangrove yang bersifat eksploitatif; melibatkan masyarakat dalam kegiatan pengelolaan ekosistem mangrove; membuat peraturan secara formal terkait pengelolaan ekosistem mangrove.

On the contingent value of knowledge base for radical innovation capability

PurposeThis paper aims to explore how to build firm’s radical innovation capability from its own knowledge resources. It proposes the impact of knowledge base on radical innovation and outlines why and how appropriability regimes are important throughout the radical innovation capability development process.Design/methodology/approachQuestionnaire and in-depth interviews were used to empirically test the relationship between knowledge base, appropriability regimes and radical innovation capability. To correct for potential endogeneity, a two-stage regression model was used to test the interaction effectsFindingsBy examining 237 firms involved in R&D activities in high-tech manufacturing firms in China, this paper finds that when a firm have a deep knowledge base, strategic appropriability regime may reduce concerns about problems such as knowledge leakage and innovation appropriation associated with deep knowledge bases. In contrast, legal appropriability regime will also tend to strengthen the positive effect of knowledge breadth on radical innovation capability.Research limitations/implicationsIn this study, self-reported measures are used because of their potential for concept specific accuracy; future research might wish to replicate our model and test it with objective data.Practical implicationsThe paper includes implications for the fit between the existing internal knowledge base and the way a firm appropriates from its knowledge, and provides entrepreneurs and managers with direct implications about how to manage knowledge resources for radical innovation capability development.Originality/valueThis paper provides a more nuanced understanding of how knowledge base and value appropriability mechanisms jointly affect radical innovation capability development.