Commodity reference price transparency: conceptualization, measurement instrument development, and influence on commodity price management.

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dc.contributor.advisorSaghiri, Soroosh
dc.contributor.advisorBourlakis, Michael
dc.contributor.authorVašek, Jan
dc.date.accessioned2024-06-20T12:07:09Z
dc.date.available2024-06-20T12:07:09Z
dc.date.issued2023-03
dc.description.abstractCommodity reference price (CRP) is potentially an important commodity price management influencing factor. However, despite its importance, it remains under-researched and poorly understood. Anchored in contingency theory and building on previous studies, this study (a) conceptualizes CRP contingency as CRP transparency, (b) creates a CRP transparency index as a tool for classifying and evaluating CRP, and (c) demonstrates the CRP transparency impact on CRP functions and CPM practices. Intuitive and interpretive literature reviews are combined with nine directed expert interviews to uncover the CRP transparency attributes. Subsequently, 111 interviews with purchasing managers explore a purposive sample of 22 CRP to construct and populate the CRP transparency index and to explore its theoretical and practical relevance, in particular, how individual CRP transparency levels shape CRP functions and impact the availability, choice and performance of commodity price management practices. The main contributions of this thesis to theory are (a) conceptualizing CRP transparency as a multi-dimensional construct composed of four measured attributes: accuracy, completeness, publication frequency, and methodology, (b) operationalizing these measured attributes into five transparency levels, (c) constructing CRP transparency index divided into five distinct and meaningful levels following a geological metaphor: black hole, opaque, translucent, transparent, dazzle. From a practitioner standpoint, this thesis provides actionable insights into (i) CRP transparency assessment and comparison with alternative CRP, (ii) how CRP transparency shapes the commodity price management practices and CRP functions and, (iii) offers an empirical toolbox for assessing, comparing, and configuring CRP to regulators and CRP issuers.en_UK
dc.description.coursenamePhD in Leadership and Managementen_UK
dc.identifier.urihttps://dspace.lib.cranfield.ac.uk/handle/1826/22537
dc.language.isoen_UKen_UK
dc.publisherCranfield Universityen_UK
dc.publisher.departmentSOMen_UK
dc.rights© Cranfield University, 2023. All rights reserved. No part of this publication may be reproduced without the written permission of the copyright holder.en_UK
dc.subjectCommodity reference priceen_UK
dc.subjectCommodity price managementen_UK
dc.subjectCommoditiesen_UK
dc.subjectContingency theoryen_UK
dc.subjectComposite indexen_UK
dc.subjectCommodity reference price practicesen_UK
dc.titleCommodity reference price transparency: conceptualization, measurement instrument development, and influence on commodity price management.en_UK
dc.typeThesis or dissertationen_UK
dc.type.qualificationlevelDoctoralen_UK
dc.type.qualificationnamePhDen_UK

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