Investigating the impact of behavioral factors on supply network efficiency: insights from banking’s corporate bond networks

Mehrdokht Pournader*, Andrew Kach, Seyed Hossein Razavi Hajiagha, Ali Emrouznejad

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

2 Citations (Scopus)

Abstract

This paper highlights the role of behavioral factors for efficiency measurement in supply networks. To this aim, behavioral issues are investigated among interrelations between decision makers involved in corporate bond service networks. The corporate bond network was considered in three consecutive stages, where each stage represents the relations between two members of the network: issuer–underwriter, underwriter–bank, and bank–investor. Adopting a multi-method approach, we collected behavioral data by conducting semi-structured interviews and applying the critical incident technique. Financial and behavioral data, collected from each stage in 20 corporate bond networks, were analyzed using fuzzy network data envelopment analysis to obtain overall and stage-wise efficiency scores for each network. Sensitivity analyzes of the findings revealed inefficiencies in the relations between underwriters–issuers, banks–underwriters, and banks–investors stemming from certain behavioral factors. The results show that incorporating behavioral factors provides a better means of efficiency measurement in supply networks.

Original languageEnglish
Pages (from-to)277–302
Number of pages26
JournalAnnals of Operations Research
Volume254
Issue number1-2
DOIs
Publication statusPublished - Jul 2017

Keywords

  • Behavioural operations
  • Corporate bonds service network
  • Fuzzy sets
  • Network data envelopment analysis

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