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A Simple and Effective Methodology for Generating Bounded Solutions for the Set K-Covering and Set Variable K-Covering Problems: A Guide for or Practitioners

Research Article

Author(s): Bryan McNally, Yun Lu, Emre Shively-Ertas, Myung Soon Song, Francis J. Vasko

Journal: Review of Computer Engineering Research

Abstract

As generalizations of the classic set covering problem (SCP), both the set K-covering problem (SKCP) and the set variable (K varies by constraint) K-covering problem (SVKCP) are easily shown to be NP-hard. Solution approaches in the literature for the SKCP typically provide no guarantees on solution quality. In this article, a simple methodology, called the simple sequential increasing tolerance (SSIT) matheuristic, that iteratively uses any general-purpose integer programming software (Gurobi and CPLEX in this case) is discussed. This approach is shown to quickly generate solutions that are guaranteed to be within a tight tolerance of the optimum for 135 SKCPs (average of 67 seconds on a standard PC and at most 0.13% from the optimums) from the literature and 65 newly created SVKCPs. This methodology generates solutions that are guaranteed to be within a specified percentage of the optimum in a short time (actual deviation from the optimums for the 135 SKCPs was 0.03%). Statistical analyses among the five best SKCP algorithms and SSIT demonstrates that SSIT performs as well as the best published algorithms designed specifically to solve SKCPs and SSIT requires no time-consuming effort of coding problem-specific algorithms—a real plus for OR practitioners.
Contribution/ Originality
This study documents a methodology that iteratively uses integer programming software to efficiently generate solutions that are guaranteed to be very close to the optimums for the set K-covering problem. A significant benefit of this methodology is that no problem specific algorithm needs to be coded by the user.
Computer Sciences » Review of Computer Engineering Research » Month: 12-2021 Issue: 2

An Experimental Economic Study of Loss Aversion in Stock Trading Decisions

Author(s):

Journal: Animal Review

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Abstract

The disposition effect is a form of behavioral bias that tends to result in investors holding on to their losing stocks for too long and selling winning stocks too soon. It can be explained by the behavioral economics theory of loss aversion. Even though many have studied this kind of behavioral bias in a variety of different countries, none of them have investigated the disposition effect in the case of Thailand. Therefore, the main objective of our study is to test the disposition effect among Thais by applying the experimental economic approaches of Weber & Camerer (1998) and Odean (1998) whilst also including the findings from questionnaires and interviews. We set up a simulation stock trading market to test the disposition effect of participants regardless of whether they had stock trading experienced or not. Subjects were required to trade among six stocks in 14 trading periods. We also added three more periods to test how different types of news impacted the subjects’ trading decisions. In addition, we analyzed socioeconomic factors that affect disposition effect behavior by using an econometric binary choice model. We found that this experiment can exhibit the disposition effect of subjects in terms of overall and individual measurement. In normal stock trading situations, we found that over 70% of subjects showed clear signs of the disposition effect, which seemed to decrease after they received fictional news.
Contribution/ Originality
This study is one of very few studies that have investigated the behavioral economics of the disposition effect and the effect of news on behavioral change in the case of Thailand based on experimental methods.
Agricultural Sciences » Animal Review » Month: 01-0 Issue: 4

Customer Relationship Management (CRM) in the Public and Private Sector Banks in Bihar: A Comparative Study

Research Article

Author(s): Indrajit Kumar, Mihir Kumar Shome, Jainendra Kumar Verma, Arun Kumar

Journal: International Journal of Management and Sustainability

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Abstract

Customer relationship management (CRM) plays a crucial role in any organization because success or failure depends on a company’s relationship with its customers. The objective of this study is to see how CRM can play an important role in the public and private sector banks in Bihar, India. The sample for the study consists of 250 bank managers from both public and private sector banks in Bihar. A CRM questionnaire developed by the researchers was used to measure CRM in the banking sector. Data were analyzed using SPSS software. Inferential statistics including t-test and analysis of variance (ANOVA) were used to analyze the data. The t-test results show that both the public and private sector banks differ significantly in the variables of customer contact by phone/e-mail, customer care, and innovation and quality. The ANOVA results showed that the four groups (public sector males, public sector females, private sector males, and private sector females) differed significantly in the eight variables (commitment; citizenship behavior; customer contact by phone/e-mail; planning; improved retention & better targeting of new customers; top management support; innovation and quality; and technological readiness.
Contribution/ Originality
This study is one of the very few studies which has investigated the implementation of CRM in both public and private sector banks in Bihar, India, and will help researchers, academicians, bank managers, and policymakers to understand the importance of CRM in the banking sector.
Business & Management » International Journal of Management and Sustainability » Month: 12-2021 Issue: 4

Can Insider Status Promote Employee Voice Behavior?

Author(s):

Journal: Animal Review

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Abstract

This research investigates employee voice behavior (EVB) as a behavioral consequence of perceived insider status (PIS) through felt obligation behavior. Based on social identity theory, this research postulates that when employees realize that they are an insider, they tend to see themselves as a citizen of an organization and proactively engage in voice behavior. In order to evaluate this relationship, we collected 983 self-completed surveys from participants of public organizations in Fiji. The findings show that as insiders, employees unbegrudgingly engage in voice behavior when trying to provide corrective changes. This relationship was also partially mediated by felt obligation behavior (FOB). Interestingly, this study is the first one to use social identity theory to explain how employees form close attachment to the organizations they work for, driving greater feelings of belongingness and altering their behavior to engage in voice behavior. Therefore, we find social identity theory to be very relevant in explaining the relationship between PIS and EVB through FOB. This makes a significant contribution to the social identity theory. Finally, the current study offers practical implications, limitations, and further research directions.
Contribution/ Originality
This study contributes to extant literature by investigating how an employee, who perceives himself or herself as an insider, has a greater potential of promoting voice behavior in an organization. In addition, the current study also shows that the relationship between perceived insider status and voice behavior is partially strengthened by felt obligation.
Agricultural Sciences » Animal Review » Month: 01-2014 Issue: 4

Investigating Citizenship Behavior Effectiveness and Extending the Effectiveness of Project Implementation in Light of the Covid-19 Pandemic

Special Issue

Author(s):

Journal: World Journal of Vocational Education and Training

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Abstract

Entrepreneurs are striving to maintain the existence of their businesses in the face of the COVID–19 pandemic. Top management need to maintain effective processes and ensure employee motivation to keep the right employees in the business. The level of interest of both academic researchers and practitioners has increased regarding employee relations within organizations during lockdown situations. Most workplaces implemented work from home arrangements for most employees. This study seeks to examine the citizenship behavior effectiveness and the effectiveness of project implementation in construction projects in the oil and gas industry. Citizenship behavior effectiveness was used as a theoretical framework for this research. The construction project employees from the oil & gas industry were invited to take part in this research. Quantitative data analysis was employed with a structural equation modelling approach during the transition from office and construction sites to working from home. The findings revealed that citizenship behavior effectiveness has a positive influence through the observable variables.
Contribution/ Originality
This research contributes to the existing literature by providing valuable information for policymakers regarding how facilitators and inhibitors influence large-scale construction projects in the oil and gas industry.
Arts and Education » World Journal of Vocational Education and Training » Month: 12-2030 Issue: 4

Does the Formal Financial Sector Enhance Small Business Employment Generation in Nepal: Evidence from Cross-Sectional Data

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Journal: Animal Review

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Abstract

Small business enterprises are widely recognized as a driving force of economic growth and development in any nation. Empirical evidence has shown that they contribute to job creation, help to alleviate poverty, and increase a nation’s level of productivity. In the exponential increase of small businesses, the role of the financial sector is crucial. This paper aims to identify the role of formal financial support in small business employment generation in Bouddhanath, Kathmandu. The study adopted a descriptive research design. Purposive sampling was used to select 285 business owners. A structured questionnaire was designed to collect their responses. Primary and secondary data was employed to analyze user status. Data analysis was performed with the help of descriptive analysis and a financial support index. The results showed that financial support plays a critical role in the enhancement of the small business sector, allowing businesses to create employment opportunities which further helps to maintain the Nepalese economy. The major challenges to the growth of small businesses in Nepal lie in securing initial funding and overreliance on credit. In addition, the ability to afford quality staff has an equally strong effect on the success of small businesses. Business growth clearly depends on the role of the formal financial sector to achieve the desired outcomes.
Contribution/ Originality
This study is one of few studies in the Nepalese context to investigate the hurdles to formal financial support experienced by small businesses. It also identifies the major factors that key players in the Nepalese trade sector can use to influence investors towards trading and investing in Kathmandu valley.
Agricultural Sciences » Animal Review » Month: 01-2014 Issue: 2

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A Simple and Effective Methodology for Generating Bounded Solutions for the Set K-Covering and Set Variable K-Covering Problems: A Guide for or Practitioners

Research Article

Author(s): Bryan McNally, Yun Lu, Emre Shively-Ertas, Myung Soon Song, Francis J. Vasko

Journal: Review of Computer Engineering Research

An Experimental Economic Study of Loss Aversion in Stock Trading Decisions

Author(s):

Journal: Animal Review

Customer Relationship Management (CRM) in the Public and Private Sector Banks in Bihar: A Comparative Study

Research Article

Author(s): Indrajit Kumar, Mihir Kumar Shome, Jainendra Kumar Verma, Arun Kumar

Journal: International Journal of Management and Sustainability

Can Insider Status Promote Employee Voice Behavior?

Author(s):

Journal: Animal Review

Investigating Citizenship Behavior Effectiveness and Extending the Effectiveness of Project Implementation in Light of the Covid-19 Pandemic

Special Issue

Author(s):

Journal: World Journal of Vocational Education and Training

Does the Formal Financial Sector Enhance Small Business Employment Generation in Nepal: Evidence from Cross-Sectional Data

Author(s):

Journal: Animal Review