Search results for: medium size companies

Authors: Aldan A. Sapargaliyev, Yerbol A. Sapargaliyev

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Since the invention, the electric machine (EM) can be defined as oEM – one-vector electric machine, as it works due to one-vector inductive coupling with use of one-vector electromagnet. The disadvantages of oEM are large size and limited efficiency at low and medium power applications. This paper describes multi-vector electric machine (mEM) based on multi-vector inductive coupling, which is characterized by the increased surface area of ​​the inductive coupling per EM volume, with a reduced share of inefficient and energy-consuming part of the winding, in comparison with oEM’s. Particularly, it is considered, calculated and compared the performance of three different electrical motors and their power at the same volumes and rotor frequencies. It is also presented the result of calculation of correlation between power density and volume for oEM and mEM. The method of multi-vector inductive coupling enables mEM to possess 1.5-4.0 greater density of power per volume and significantly higher efficiency, in comparison with today’s oEM, especially in low and medium power applications. mEM has distinct advantages, when used in transport vehicles such as electric cars and aircrafts.

Keywords: electric machine, electric motor, electromagnet, efficiency of electric motor

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Authors: M.F. Elkady, Sahar Zaki, Desouky Abd-El-Haleem

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Silver nanoparticles (AgNPs) are already widely prepared using different technologies. However, there are limited data on the effects of hydrogen ion concentration on nano-silver production. In this investigation, the impact of the pH reaction medium toward the particle size, agglomeration and the yield of the produced bio-synthesized silver were established. Quasi-spherical silver nanoparticles were synthesized through the biosynthesis green production process using the Egyptian E. coli bacterial strain 23N at different pH values. The formation of AgNPs has been confirmed with ultraviolet–visible spectra through identification of their characteristic peak at 410 nm. The quantitative production yield and the orientation planes of the produced nano-silver were examined using X-ray spectroscopy (EDS) and X-ray diffraction (XRD). Quantitative analyses indicated that the silver production yield was promoted at elevated pH regarded to increase the reduction rate of silver precursor through both chemical and biological processes. As a result, number of the nucleus and thus the size of the silver nanoparticles were tunable through changing pH of the reaction system. Accordingly, the morphological structure and size of the produced silver and its aggregates were determined using scanning electron microscopy (SEM) and transmission electron microscopy (TEM) images. It was considered that the increment in pH value of the reaction media progress the aggregation of silver clusters. However, the presence of stain 23N biomass decreases the possibility of silver aggregation at the pH 7.

Keywords: silver nanoparticles, biosynthesis, reaction media pH, nano-silver characterization

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Authors: Mohamed. A. Saad

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The paper represents a case study regarding the conversion of Electro-Static Precipitators (ESP`s) into Fabric Filters (FF). Seven cement production companies were established in Egypt during the period 1927 to 1980 and 6 new companies were established to cope with the increasing cement demand in 1980's. The cement production market shares in Egypt indicate that there are six multinational companies in the local market, they are interested in the environmental conditions improving and so decided to achieve emission reduction project. The experimental work in the present study is divided into two main parts: (I) Measuring Efficiency of Filter Fabrics with detailed description of a designed apparatus. The paper also reveals the factors that should be optimized in order to assist problem diagnosis, solving and increasing the life of bag filters. (II) Methods to mitigate dust emissions in Egyptian cement plants with a special focus on converting the Electrostatic Precipitators (ESP`s) into Fabric Filters (FF) using the same ESP casing, bottom hoppers, dust transportation system, and ESP ductwork. Only the fan system for the higher pressure drop with the fabric filter was replaced. The proper selection of bag material was a prime factor with regard to gas composition, temperature and particle size. Fiberglass with PTFE membrane coated bags was selected. This fabric is rated for a continuous temperature of 250 C and a surge temperature of 280C. The dust emission recorded was less than 20 mg/m3 from the production line fitted with fabric filters which is super compared with the ESP`s working lines stack.

Keywords: Engineering Electrostatic Precipitator, filtration, dust collectors, cement

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Authors: Hitham Yami

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This study will focus primarily on assessing the availability requirements of the electronic management of oil companies in Libya, and the mean objectives of the research applying electronic management and make recommendations and steps to approach electronic management. There are limited research and statistical analysis to support electronic management in Libyan companies. The groundwork for the proposed approach is to develop independent variables and the dependent variables to be restructured after it Alntra side of the field and the side to get the data to achieve the desired results and solving the problem faced by the Libyan Oil Corporation. All these strategies are proposed to achieve the goal, and solving Libyan oil installations.

Keywords: oil company’s revenue, independent variables, electronic management, Libyan oil corporation

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Authors: Ghizlane Barzi, Zineb Bamousse

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In an increasingly volatile global economic context characterized by recurring crises, the financial function of companies is called upon to play a strategic role not only in resource management but also in organizational resilience. The emergence of financial technologies (fintech) offers innovative tools capable of transforming this function by enhancing the efficiency of financial processes and increasing companies' ability to adapt and overcome economic shocks. However, despite the rapid rise of fintechs and their growing adoption by companies, there remain uncertainties regarding the real impact of these innovations on the financial resilience of organizations. Indeed, how do fintech-driven innovations transform the financial function, and to what extent does this transformation contribute to strengthening the financial resilience of companies in the face of contemporary crises? This research aims to explore these questions by examining the interrelationships between the financial function, fintech innovations, and corporate resilience, in order to identify optimization levers that could be adopted for better financial risk management.

Keywords: finance, financial function, fintech, resilience, innovation

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Authors: Alexander Kelisek, Stanislava Strelcova

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Developing of business in small and medium-sized enterprises (SMEs) is a specific especially for its flexibility and rapid adaptation to the conditions of turbulent market environment compared to large enterprises. Therefore, an importance of SMEs is growing rapidly in Slovakia but also in other EU countries. Small and medium enterprises are characterized by transparent organizational structure, as it allows the realization of direct management and information flow without significant negative aspects. In the national economy small and medium-sized enterprises represent a significant potential when performs a several important functions (e.g. social, economic, export-import, etc.) The significance of these enterprises is not only at national, but also at transnational level. Importance of SMEs is also aware of the EU, which declared this statement in a key document for SMEs called Small Business Act. In this document, SMEs are characterized, as the backbone of the EU economy and also as a key source of jobs opportunities. In addition to these aspects, SMEs attaches high innovation and development potential. The authors of the article are dealing with the current status of SMEs development in the Slovak Republic and highlight the current challenges that entrepreneurs face in their small and medium enterprises.

Keywords: small and medium enterprises (SMEs), business support, SMEs development, SMEs funding

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Authors: Vithaya Intraphimol

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The purpose of this study is to investigate the relationship between market orientation and business performance through innovations that include product innovation and process innovation. Auto parts and accessories companies in Thailand were used as sample for this investigation. Survey research with structured questionnaire was used as the key instrument in collecting the data. The structural equation modeling (SEM) was assigned test the hypotheses. The sample size in this study requires the minimum sample size of 200. The result found that competitor orientation, and interfunctional coordination has an effect on product innovation. Moreover, interfunctional coordination has an effect on process innovation, and return on asset. This indicates that within- firm coordination has crucial to firms’ performances. The implication for practice, firms should support interfunctional coordination that members of different functional areas of an organization communicate and work together for the creation of value to target buyers they may have better profitability.

Keywords: auto parts industry, business performance, innovations, market orientation

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Authors: Suwaiba Sabiu Bako, Yaw Debrah

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In spite of the extensive literature available on the human resource management (HRM) systems and practices of multinational companies (MNCs) from developed countries, there are gaps concerning emerging countries’ multinational companies’ (EMNCs) HRM systems and practices. This study examines the transfer of HRM practices in Nigerian subsidiaries of MNCs from South Africa. It reveals that South MNCs hybridise their recruitment and selection processes and localise their compensation and employee relations. It also proves that performance appraisal, talent management and code of conduct practices are largely transferred to subsidiaries with minimal adaptation.

Keywords: EMNCs, HRM practices, HRM systems, Nigeria, South Africa

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Authors: Thepnarintra Praphanphat

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The purposes of this study were to investigate garment industry’s condition, problems, and need for assistance. The population of the study was 504 managers or managing directors of garment establishments finished apparel industrial manager and permission of the Department of Industrial Works 28, Ministry of Industry until January 1, 2012. In determining the sample size with the opening of the Taro Yamane finished at 95% confidence level is ± 5% deviation was 224 managers. Questionnaires were used to collect the data. Percentage, frequency, arithmetic mean, standard deviation, t-test, ANOVA, and LSD were used to analyze the data. It was found that most establishments were of a large size, operated in a form of limited company for more than 15 years most of which produced garments for working women. All investment was made by Thai people. The products were made to order and distributed domestically and internationally. The total sale of the year 2010, 2011, and 2012 was almost the same. With respect to the problems of operating the business, the study indicated, as a whole, by- aspects, and by-items, that they were at a high level. The comparison of the level of problems of operating garment business as classified by general condition showed that problems occurring in business of different sizes were, as a whole, not different. In taking aspects into consideration, it was found that the level of problem in relation to production was different; medium establishments had more problems in production than those of small and large sizes. According to the by-items analysis, five problems were found different; namely, problems concerning employees, machine maintenance, number of designers, and price competition. Such problems in the medium establishments were at a higher level than those in the small and large establishments. Regarding business age, the examination yielded no differences as a whole, by-aspects, and by-items. The statistical significance level of this study was set at .05.

Keywords: garment industry, garment, fashion, competitive enhancement project

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Authors: Rajan Deglurkar

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The research carried out in this piece of work is on 'Framework of Sustainable Manufacturing for Small and Medium Enterprises'. It consists of elucidation of concepts about sustainable manufacturing and sustainable product development with critical review performed on seven techniques of sustainable manufacturing. The work also covers the survey about critical review of awareness in the market with respect to the manufacturers and the consumers. The factors and challenges for sustainable manufacturing implementation are reviewed and simple framework is constructed for the small and medium enterprise for successful implementation of sustainable manufacturing and sustainable product.

Keywords: sustainable development, sustainable manufacturing, resource efficiency, framework for sustainable manufacturing

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Authors: Samuel Capintero

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Public-private partnerships (PPP) arrangements have emerged all around the world as a response to infrastructure deficits and the need to refurbish existing infrastructure. During the last decade, the Spanish companies have dominated the international market of PPP projects in Latin America, Western Europe and North America, particularly in the transportation sector. Arguably, one of the most influential factors has been the organizational structure of the concessionaire implemented by the Spanish consortiums. The model followed by most Spanish groups has been a bundled model, where the concessionaire integrates the functions of concessionaire, construction and operator companies. This paper examines this model and explores how it has provided the Spanish companies with a comparative advantage in the international PPP market.

Keywords: PPP, project management, concessionaire, concession, infrastructure, construction

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Authors: M. V. Shivaani, P. K. Jain, Surendra S. Yadav

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Worldwide regulators, practitioners and researchers view risk-disclosure as one of the most important steps that will promote corporate accountability and transparency. Recognizing this growing significance of risk disclosures, the paper first develops a risk disclosure index. Covering 69 risk items/themes, this index is developed by employing thematic content analysis and encompasses three attributes of disclosure: namely, nature (qualitative or quantitative), time horizon (backward-looking or forward-looking) and tone (no impact, positive impact or negative impact). As the focus of study is on substantive rather than symbolic disclosure, content analysis has been carried out manually. The study is based on non-financial companies of Nifty500 index and covers a ten year period from April 1, 2005 to March 31, 2015, thus yielding 3,872 annual reports for analysis. The analysis reveals that (on an average) only about 14% of risk items (i.e. about 10 out 69 risk items studied) are being disclosed by Indian companies. Risk items that are frequently disclosed are mostly macroeconomic in nature and their disclosures tend to be qualitative, forward-looking and conveying both positive and negative aspects of the concerned risk. The second objective of the paper is to gauge the factors that affect the level of disclosures in annual reports. Given the panel nature of data, and possible endogeneity amongst variables, Diff-GMM regression has been applied. The results indicate that age and size of firms have a significant positive impact on disclosure quality, whereas growth rate does not have a significant impact. Further, post-recession period (2009-2015) has witnessed significant improvement in quality of disclosures. In terms of corporate governance variables, board size, board independence, CEO duality, presence of CRO and constitution of risk management committee appear to be significant factors in determining the quality of risk disclosures. It is noteworthy that the study contributes to literature by putting forth a variant to existing disclosure indices that not only captures the quantity but also the quality of disclosures (in terms of semantic attributes). Also, the study is a first of its kind attempt in a prominent emerging market i.e. India. Therefore, this study is expected to facilitate regulators in mandating and regulating risk disclosures and companies in their endeavor to reduce information asymmetry.

Keywords: risk disclosure, voluntary disclosures, corporate governance, Diff-GMM

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Authors: Adithya Nadig

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In the field of production, characterization of surface roughness plays a vital role in assessing the quality of a manufactured product. The defined parameters for this assessment, each, have their own drawbacks in describing a profile surface. From the purview of small-scale and medium-scale industries, an increase in time spent for manual inspection of a product for various parameters adds to the cost of the product. In order to reduce this, a uniform and established standard is necessary for quantifying a profile of a manufactured product. The inspection procedure in the small and medium-scale manufacturing units at Jigani Industrial area, Bangalore, was observed. The parameters currently in use in those industries are described in the paper and a change in the inspection method is proposed.

Keywords: efficiency of quality assessment, manual areal profiling technique, manufacturing in small and medium-scale industries product-oriented inspection, standardization of manual inspection, surface roughness characterization

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Authors: Ilya Vladimirovich Konevtsev, Elena Anatolievna Rodionova

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This work is devoted to the study of the impact of the methodology of flexible management in IT companies on the level of organizational and professional stress of employees. It is assumed that the level of organizational and professional stress will decrease statistically significantly, provided that the company operates in accordance with the principles of flexible methodology, including Scrum or Kanban frameworks. The professional health of employees of various companies in the modern world is a stable interest for organizational psychology and many other related disciplines. The urgency of the problem is due to the fact that professional health is an extremely important factor that ensures the well-being, involvement, and interest of an employee in the activity, which directly affects his efficiency and work results. The use of modern methodologies for managing projects, teams, and entire companies, as practice shows, largely contributes to improving the efficiency and satisfaction of employees, but it is still not clear what factors contribute to this result. The purpose of this study is largely to clarify the question of how HR management methodologies affect the professional health of company employees. The study involved 44 employees of IT companies, of which 27 are men and 17 women, where Agile management methodology is used, and 41 employees of IT companies (33 men, 8 women) where Agile is not used. As a result, it was found out that the use of Agile methodology is interrelated with low indicators of organizational stress and professional stress; however, regression analysis showed that only the Kanban framework acts as a predictor of reducing professional stress, while the level of organizational stress is statistically significantly reduced when using Scrum and Kanban.

Keywords: professional stress, organizational stress, agile, scrum, Kanban

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Authors: Nasir Ullah

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Marketing strategies are important factors in the success of a company. Local pharmaceutical companies in Pakistan face several issues, such as low-level budgets, lack of skilled human resources, and challenges to competing with multinational competitors that have negative impacts on their success. However, still there exist local companies with great levels of success in the pharmaceutical sector. This study aims to evaluate the marketing strategies of successful local companies in the pharmaceutical sector of Khyber Pakhtunkhwa, Pakistan. The study employed a constructivist approach to know about successful strategies of the marketing managers that worked well. For this purpose, in-depth interviews were conducted with marketing managers of four pharmaceutical companies which were deemed as successful on the basis of their annual target achievements. Thematic analysis was conducted using Nvivo to devise major themes from the collected data. Four major themes or successful strategies were identified. These are i) share in the profit to marketing and sales staff, ii) invitation to the doctors for participation in free medical camps and health awareness seminars, iv) incentives for the Doctors and retailers, v) utilization of traditional capital (local social relationships) by the marketing officers. The study concludes that profit share to the employees, valuing doctors through their involvement and utilization of traditional capital are the successful marketing strategies of the successful pharmaceutical companies in the Pakhtun society of Pakistan. The study suggests hiring local staff that can utilize their traditional capital to influence doctors' decisions regarding the prescription of their medicine to the patients. The study also suggests profit share or increased bonuses to the marketing and sales staff as a measure of success.

Keywords: successful marketing strategies, pharmaceutical industry, traditional social capital, local companies

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Authors: Esther T. Akinlabi, Stephen A. Akinlabi

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This paper reports on the effects of heat treatment on 3CR12 and AISI 316 stainless steel grades. Heat treatment was conducted on the steel grades and cooled using two different media; air and water in order to study the effect of each medium on the evolving properties of the samples. The heat treated samples were characterized through the evolving microstructure and hardness. It was found that there was a significant grain size reduction in both the heat treated stainless steel specimens compared to the parent materials. The finer grain sizes were achieved as a result of impediment to growth of one phase by the other. The Vickers micro-hardness values of the heat treated samples were higher compared to the parent materials due to the fact that each of the steel grades had a proportion of martensitic structures in their microstructures.

Keywords: austenite, ferrite, grain size, hardness, martensite, microstructure and stainless steel

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Authors: Veronica Sri Lestari, Ahmad Ramadhan Siregar

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The purpose of this research was to know some factors affecting farm size of duck farming (case study in Pinrang district, South Sulawesi). This research was conducted in 2013. Total sample was 45 duck farmers which were selected from 6 regions in Mattiro Sompe sub district, Pinrang district, South Sulawesi province through stratified random sampling. Data were collected through interviews using questionnaires and observation. Multiple regression equation was used to analyze the data. Dependent variable was duck population, while age of respondents, farming experience, land size, education, and income level as independent variables. This research revealed that R2 was 0.920. Simultaneously, age of respondents, farming experience, land size, education, and income level significantly influenced farm size of duck farming (P < 1%). Only income influenced farm size of duck farming (P < 1%).

Keywords: duck, dry system, factors, farm-size

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Authors: H. D. Duong, J. I. Rhee

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In this work, gold nanoparticles in star shape (called gold nanostars, GNS) were synthesized and coated by N-(3-aminopropyl) methacrylamide hydrochloride (PA) and mercaptopropionic acid (MPA) for functionalizing their surface by amine and carboxyl groups and then investigated for ROS production. The GNS with big size and multi-tips seem to be superior in singlet oxygen production as compared with that of small GNS and less tips. However, the functioned GNS in small size could also enhance efficiency of singlet oxygen production about double as compared with that of the intact GNS. In combination with methylene blue (MB+), the functioned GNS could enhance the singlet oxygen production of MB+ after 1h of LED750 irradiation and no difference between small size and big size in this reaction was observed. In combination with 5-aminolevulinic acid (ALA), only GNS coated PA could enhance the singlet oxygen production of ALA and the small size of GNS coated PA was a little higher effect than that of the bigger size. However, GNS coated MPA with small size had strong effect on hydroxyl radical production of ALA.

Keywords: 5-aminolevulinic acid, gold nanostars, methylene blue, ROS production

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Authors: Fredrik Hartwig, Peter Lindberg

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In 2004, the International Accounting Standards Board (IASB) issued new accounting standards for impairment testing of goodwill. IFRS 3 Business Combinations and IAS 36 Impairment of Assets prohibited amortization of acquired goodwill and instead required companies to test goodwill for impairment annually or more often if necessary. The goodwill impairment test is based on management’s judgement and estimations, making the impairment-only-approach subjective and unreliable. Management can use the discretion opportunistically by managing goodwill impairments. The IASB’s remedy to the reliability problem has been to demand transparent financial reports. IAS 36 paragraph 134 requires detailed disclosures regarding the impairment test in order to make potentially unreasonable assumptions and estimations visible. The disclosure requirements should thus (in theory) make it more difficult for management to ‘choose’ assumptions and estimations that suit an agenda. Whether the requirement to disclose detailed disclosures regarding the impairment test leads to less opportunism is however an empirical question. This work analyses whether one of the required disclosures in IAS 36 paragraph 134, the reported discount rate, differs from an independently estimated risk-adjusted discount rate. Estimates of discount rates that are either lower or higher than the independently estimated discount rate are here defined as opportunism. In the former case - i.e. when the reported discount rate is lower - the objective may be to avoid profit reducing impairment charges. In the latter case - i.e. when the reported discount rate is higher - the objective may be to reduce profits or take ‘big baths’. This paper differs in one important respect from previous similar studies, the majority of which are based on purely descriptive statistics; we use multivariate regression analysis to analyze what factors affect deviations between disclosed discount rates and independently estimated discount rates. The sample consists of Swedish and Finnish listed companies. Swedish and Finnish listed companies are analysed since the accounting oversight bodies differ between the two countries. The results show that discount rate deviations in Swedish and Finnish listed companies are significantly related to accounting oversight, size and industry but not financial risk, business risk and goodwill intensity.

Keywords: discount rate, manipulation, goodwill impairment test, disclosures

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Authors: Almoutassem Bellah Nasser

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This paper is aimed at calculating the intangible assets of Jordanian economy. This effort is a response to the demand from corporations for these services which reflects a perceived gap in internal and external financial reporting on intangible investments. The main conclusion of the paper is to suggest that the way forward to a standardized, more comparable approach to measuring intangible capital is to employ CIV method of valuation. Published macroeconomic data traditionally exclude most intangible investment from measured GDP. This situation is beginning to change as some attempts have been made to measure the amount of intangible assets. It was found that intangible assets account for $164.20 million in all the listed companies of Jordan. All this money does not appear on the balance sheets of these companies and hence requires special attention of policy makers for better utilization.

Keywords: intangible capital, stock prices, Amman Stock Exchange

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Authors: Han Joo Choe, Soon-Ho Kwon, Jung-Joong Lee

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Tin particles of various size and distribution were self-assembled by plasma treating tin film deposited on silicon oxide substrates. Plasma treatment was conducted using an inductively coupled plasma (ICP) source. A range of ICP power and topographic templated substrates were evaluated to observe changes in particle size and particle distribution. Scanning electron microscopy images of the particles were analyzed using computer software. The evolution of tin film dewetting into particles initiated from the hole nucleation in grain boundaries. Increasing ICP power during plasma treatment produced larger number of particles per area and smaller particle size and particle-size distribution. Topographic templates were also effective in positioning and controlling the size of the particles. By combining the effects of ICP power and topographic templates, particles of similar size and well-ordered distribution were obtained.

Keywords: dewetting, particles, plasma, tin

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Authors: My Linh Hoang, Van Dung Hoang

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Environmental, Social, and Governance (ESG) factors have become a focus for companies globally, as businesses are now focusing on long-term sustainable goals rather than only operating for the goals of profit maximization. According to recent research, in several countries, companies have shown positive results in their financial performance by improving their ESG performance. The construction industry is one of the most crucial components of social and economic development; as a result, considerations for ESG factors are becoming more and more essential for companies in this sector. In Vietnam, the construction industry has been growing rapidly in recent years; however, it has yet to be discussed and studied extensively in Vietnam how ESG factors create impacts on corporate financial performance in general and construction corporations’ financial performance in particular. This research aims to examine the relationship between ESG factors and financial indicators in construction companies from 2011 to 2021 through panel data analysis of 75 listed construction companies in Vietnam and to provide insights into how these companies can better integrate ESG considerations into their operations to enhance their financial performance. The data was analyzed through 3 main methods: descriptive statistics, correlation coefficient analysis applied to all dependent, explanatory and control variables, and panel data analysis method. In panel data analysis, the study uses the fixed effects model (FEM) and random effects model (REM). The Hausman test will be used to select which model is suitable to be used. The findings indicate that maintaining a strong commitment to ESG principles can have a positive impact on financial performance. Finally, FGLS estimation will be performed when the problem of autocorrelation and variable variance appears in the model. This is significant for all parties involved, including investors, company managers, decision-makers, and industry regulators.

Keywords: ESG, financial performance, construction company, Vietnam

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Authors: J. Linjikao, P. Inthima, A. Kongbangkerd

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In vitro conservation of orchid germplasm provides an effective technique for ex situ conservation of orchid diversity. In this study, an efficient protocol for in vitro conservation of Vandopsis lissochiloides (Gaudich.) Pfitz. plantlet under slow growth conditions was investigated. Plantlets were cultured on different strength of Vacin and Went medium (½VW and ¼VW) supplemented with different concentrations of mannitol (0, 2, 4, 6 and 8%), sucrose (0 and 3%) and 50 g/L potato extract, 150 mL/L coconut water. The cultures were incubated at 25±2 °C and maintained under 20 µmol/m²s light intensity for 24 weeks without subculture. At the end of preservation period, the plantlets were subcultured to fresh medium for growth recovery. The results found that the highest leaf number per plantlet could be observed on ¼VW medium without adding sucrose and mannitol while the highest root number per plantlet was found on ½VW added with 3% sucrose without adding mannitol after 24 weeks of in vitro storage. The results showed that the maximum number of leaves (5.8 leaves) and roots (5.0 roots) of preserved plantlets were produced on ¼VW medium without adding sucrose and mannitol. Therefore, ¼VW medium without adding sucrose and mannitol was the best minimum growth conditions for medium-term storage of V. lissochiloides plantlets.

Keywords: preservation, vandopsis, germplasm, in vitro

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Authors: Dennis Kreutzer, Sarah Müller-Abdelrazeq, Ingrid Isenhardt

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Resource scarcity, energy transition and the planned climate neutrality pose enormous challenges for manufacturing companies. In order to achieve these goals and a holistic sustainable development, the European Union has listed the circular economy as part of the Circular Economy Action Plan. In addition to a reduction in resource consumption, reduced emissions of greenhouse gases and a reduced volume of waste, the principles of the circular economy also offer enormous economic potential for companies, such as the generation of new circular business models. However, many manufacturing companies, especially small and medium-sized enterprises, do not have the necessary capacity to plan their transformation. They need support and strategies on the path to circular transformation, because this change affects not only production but also the entire company. Maturity models offer an approach, as they enable companies to determine the current status of their transformation processes. In addition, companies can use the models to identify transformation strategies and thus promote the transformation process. While maturity models are established in other areas, e.g. IT or project management, only a few circular economy maturity models can be found in the scientific literature. The aim of this paper is to analyse the identified maturity models of the circular economy through a systematic literature review (SLR) and, besides other aspects, to check their completeness as well as their quality. Since the terms "maturity model" and "readiness model" are often used to assess the transformation process, this paper considers both types of models to provide a more comprehensive result. For this purpose, circular economy maturity models at the company (micro) level were identified from the literature, compared, and analysed with regard to their theoretical and methodological structure. A specific focus was placed, on the one hand, on the analysis of the business units considered in the respective models and, on the other hand, on the underlying metrics and indicators in order to determine the individual maturity level of the entire company. The results of the literature review show, for instance, a significant difference in the holism of their assessment framework. Only a few models include the entire company with supporting areas outside the value-creating core process, e.g. strategy and vision. Additionally, there are large differences in the number and type of indicators as well as their metrics. For example, most models often use subjective indicators and very few objective indicators in their surveys. It was also found that there are rarely well-founded thresholds between the levels. Based on the generated results, concrete ideas and proposals for a research agenda in the field of circular economy maturity models are made.

Keywords: maturity model, circular economy, transformation, metric, assessment

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Authors: Z. Jannoo, B. W. Yap, N. Auchoybur, M. A. Lazim

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The two common approaches to Structural Equation Modeling (SEM) are the Covariance-Based SEM (CB-SEM) and Partial Least Squares SEM (PLS-SEM). There is much debate on the performance of CB-SEM and PLS-SEM for small sample size and when distributions are non-normal. This study evaluates the performance of CB-SEM and PLS-SEM under normality and non-normality conditions via a simulation. Monte Carlo Simulation in R programming language was employed to generate data based on the theoretical model with one endogenous and four exogenous variables. Each latent variable has three indicators. For normal distributions, CB-SEM estimates were found to be inaccurate for small sample size while PLS-SEM could produce the path estimates. Meanwhile, for a larger sample size, CB-SEM estimates have lower variability compared to PLS-SEM. Under non-normality, CB-SEM path estimates were inaccurate for small sample size. However, CB-SEM estimates are more accurate than those of PLS-SEM for sample size of 50 and above. The PLS-SEM estimates are not accurate unless sample size is very large.

Keywords: CB-SEM, Monte Carlo simulation, normality conditions, non-normality, PLS-SEM

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Authors: Matteo Bonaventura, Giancarlo Giudici

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This paper analyses the valuation process of companies listed on the Italian Exchange in the period 2000-2009 at their Initial Public Offering (IPO). One the most common valuation techniques declared in the IPO prospectus to determine the offer price is the Discounted Cash Flow (DCF) method. We develop a ‘reverse engineering’ model to discover the short term profitability implied in the offer prices. We show that there is a significant optimistic bias in the estimation of future profitability compared to ex-post actual realization and the mean forecast error is substantially large. Yet we show that such error characterizes also the estimations carried out by analysts evaluating non-IPO companies. The forecast error is larger the faster has been the recent growth of the company, the higher is the leverage of the IPO firm, the more companies issued equity on the market. IPO companies generally exhibit better operating performance before the listing, with respect to comparable listed companies, while after the flotation they do not perform significantly different in term of return on invested capital. Pre-IPO book building activity plays a significant role in partially reducing the forecast error and revising expectations, while the market price of the first day of trading does not contain information for further reducing forecast errors.

Keywords: initial public offerings, DCF, book building, post-IPO profitability drop

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Authors: Septiany Trisnaningtyas

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Purpose: This research aims to examine the factors affecting the profitability of pharmaceutical company during the Covid-19 Pandemic in Indonesia. A sharp decline in the number of patients coming to the hospital for treatment during the pandemic has an impact on the growth of the pharmaceutical sector and brought major changes in financial position and business performance. Pharmaceutical companies that provide products related to the Covid-19 pandemic can survive and continue to grow. This study investigates the factors affecting the profitability of pharmaceutical company during the Covid-19 Pandemic in Indonesia associated with the number of Covid-19 cases. Design/methodology/approach: This study uses panel-data regression models to evaluate the influence of the number of Covid-19 confirmed cases on profitability of ninelisted pharmaceuticalcompanies in Indonesia. This research is based on four independent variables that were empirically examined for their relationship with profitability. These variables are liquidity (current ratio), growth rate (sales growth), firm size (total sales), and market power (the Lerner index). Covid-19 case is used as moderating variable. Data of nine pharmaceutical companies listed on the Indonesia Stock Exchange covering the period of 2018–2021 were extracted from companies’ quarterly annual reports. Findings: In the period during Covid-19, company growth (sales growth) and market power (lerner index) have a positive and significant relationship to ROA and ROE. Total of confirmed Covid-19 cases has a positive and significant relationship to ROA and is proven to have a moderating effect between company’s growth (sales growth) to ROA and ROE and market power (Lerner index) to ROA. Research limitations/implications: Due to data availability, this study only includes data from nine listed pharmaceutical companies in Indonesian Stock exchange and quarterly annual reportscovering the period of 2018-2021. Originality/value: This study focuses onpharmaceutical companies in Indonesia during Covid-19 pandemic. Previous study analyzes the data from pharmaceutical companies’ annual reports since 2014 and focus on universal health coverage (national health insurance) implementation from the Indonesian government. This study analyzes the data using fixed effect panel-data regression models to evaluate the influence of Covid-19 confirmed cases on profitability. Pooled ordinary least squares regression and fixed effects were used to analyze the data in previous study. This study also investigate the moderating effect of Covid-19 confirmed cases to profitability in relevant with the pandemic situation.

Keywords: profitability, indonesia, pharmaceutical, Covid-19

Procedia PDF Downloads 123

Authors: Alma Lucero Ortiz, Mario Gómez

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The purpose of this article is to conduct a theoretical and empirical study in order to analyze how the Supply Chain Management (SCM) and Supply Chain Responsiveness (SCR) affects the competitive advantage of the agrofood sector in 2017, in particular, the exporting companies of berries in Mexico. This work is presented in two parts, as a first part is developed a theoretical analysis of the main studies to measure the variables subject to the study. Subsequently an empirical study is carried out through field work and to process the data a logical econometric model is performed to be able to evaluate the effect of the SCM and SCR on the competitive advantage in the companies exporting berries. The results suggest that the SCM has a positive effect on the competitive advantage of the companies under study, so it is necessary to implement greater practices oriented towards a suitable SCM for the companies to achieve a competitive performance. In the case of SCR, it was found that this variable does not have effect on competitive advantage.

Keywords: competitive advantage, econometric model, supply chain management, supply chain responsiveness, sustained competitive advantage

Procedia PDF Downloads 238

Authors: Amit Kumar Sinha

Abstract:

A coal preparation plant typically operates with multiple beneficiation circuits to process individual size fractions of coal obtained from mine so that the targeted overall plant efficiency in terms of yield and ash is achieved. Conventional coal beneficiation plant in India or overseas operates generally in two methods of processing; coarse beneficiation with treatment in dense medium cyclones or in baths and fines beneficiation with treatment in flotation cell. This paper seeks to address the proven application of intermediate circuit along with coarse and fines circuit in Jamadoba New Coal Preparation Plant of capacity 2 Mt/y to treat -0.5 mm+0.25 mm size particles in reflux classifier. Previously this size of particles was treated directly in Flotation cell which had operational and metallurgical limitations which will be discussed in brief in this paper. The paper also details test work results performed on the representative samples of TSL coal washeries to determine the top size of intermediate and fines circuit and discusses about the overlapping process of intermediate circuit and how it is process wise suitable to beneficiate misplaced particles from coarse circuit and fines circuit. This paper also compares the separation efficiency (Ep) of various intermediate circuit process equipment and tries to validate the use of reflux classifier over fine coal DMC or spirals. An overview of Modern coal preparation plant treating Indian coal especially Washery Grade IV coal with reference to Jamadoba New Coal Preparation Plant which was commissioned in 2018 with basis of selection of equipment and plant profile, application of reflux classifier in intermediate circuit and process design criteria is also outlined in this paper.

Keywords: intermediate circuit, overlapping process, reflux classifier

Procedia PDF Downloads 136

Authors: Francesco Venuti, Simona Alfiero

Abstract:

The aim of this paper is to develop an empirical research on the nature and consequences of corporate governance on Eurozone Insurance Industry risk taking attitude. More particularly, we analyzed the effect of public ownership on risk taking with respect to privately held Insurance Companies. We also analyzed the effects on risk taking attitude of different degrees of ownership concentration, directors compensation, and the dimension/diversity of the Board of Directors. Our results provide quite strong evidence that, coherently with the Agency Theory, publicly traded insurance companies with more concentrated ownership are less risky than the corresponding privately held.

Keywords: agency theory, corporate governance, insurance companies, risk taking

Procedia PDF Downloads 428