Search results for: typologies of firms

Authors: Sibo Lu, Zhongkai Qian, Haotian Zhang

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This article examines the phenomenon of micro-sovereignty in the context of property management and its implications for biopolitics and urban governance in mainland China. It explores the transformation of urban spaces into privatized communities managed by property companies, leading to the reterritorialization of urban areas and the segmentation of urban populations. Drawing on legal frameworks, we analyze how commercial real estate development and property management have reshaped the urban landscape, placing nearly all urban residents within service areas of property management firms, thus establishing micro-sovereign entities that exercise control over residential spaces. Through a critique of property management's sovereign effects on social organization and the exploration of autonomous, democratic alternatives in community governance, this article contributes to the broader discourse on sovereignty, governance, and resistance within the urban milieu of contemporary China. It underscores the urgent need for more democratic forms of community management that can transcend the capitalist logic of property management companies and foster genuine participatory governance at the grassroots level.

Keywords: biopolitic, critical theory, political sociology, political philosophy

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Authors: Lizinis Cassendra Frederick Dony, Jirom Jeremy Frederick Dony, Andrew Nicholas, Dewi Binti Tajuddin

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Starting and surviving a business is influenced by various entrepreneurship socio-economics activities. The study revealed that some of the entrepreneurs are not registered under SME but running own business as an intermediary with the private organization entrusted as “Self-Employed.” SME is known as “Small Medium Enterprise” contributes growth in Malaysia. Therefore, the entrepreneurialism business interest and entrepreneurial intention enhancing new spurring production, expanding employment opportunities, increasing productivity, promoting exports, stimulating innovation and providing new avenue in the business market place. This study has identified the unique contribution to the full understanding of complex mechanisms through entrepreneurship obstacles and education impacts on happiness and well-being to society. Moreover, “Ethnic” term has defined as a curious meaning refers to a classification of a large group of people customs implies to ancestral, racial, national, tribal, religious, linguistic and cultural origins. It is a social phenomenon.1 According to Sabah data population is amounting to 2,389,494 showed the predominant ethnic group being the Kadazan Dusun (18.4%) followed by Bajau (17.3%) and Malays (15.3%). For the year 2010, data statistic immigrants population report showed the amount to 239,765 people which cover 4% of the Sabahan’s population.2 Sabah has numerous group of talented entrepreneurs. The business environment among the minority ethnics are influenced with the business sentiment competition. The literature on ethnic entrepreneurship recognizes two main type entrepreneurships: the middleman and enclave entrepreneurs. According to Adam Smith,3 there are evidently some principles disposition to admire and maintain the distinction business rank status and cause most universal business sentiments. Due to credit barriers competition, the minority ethnics are losing the business market and since 2014, many illegal immigrants have been found to be using permits of the locals to operate businesses in Malaysia.4 The development of small business entrepreneurship among the minority ethnics in Sabah evidenced based variety of complex perception and differences concepts. The studies also confirmed the effects of heterogeneity on group decision and thinking caused partly by excessive pre-occupation with maintaining cohesiveness and the presence of cultural diversity in groups should reduce its probability.5 The researchers proposed that there are seven success determinants particularly to determine the involvement of minority ethnics comparing to the involvement of the immigrants in Sabah. Although, (SMEs) have always been considered the backbone of the economy development, the minority ethnics are often categorized it as the “second-choice.’ The study showed that illegal immigrants entrepreneur imposed a burden on Sabahan social programs as well as the prison, court and health care systems. The tension between the need for cheap labor and the impulse to protect Malaysian in Sabah workers, entrepreneurs and taxpayers, among the subjects discussed in this study. This is clearly can be advantages and disadvantages to the Sabah economic development.

Keywords: entrepreneurial firms, self-employed, immigrants, minority ethnic, economic impacts

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Authors: Apedzan Emmanuel Kighir

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This research investigates dividends smoothing among non-financial companies trading on the Nigerian Stock Exchange in an era of unclaimed dividends from 2004 to 2013. There has been a raging controversy among Regulatory Authorities, Company Executives, Registrars of Companies, Shareholders and the general public regarding the increasing incidence of unclaimed dividends in Nigeria. The objective of this study is to find out if corporate earnings management through dividends smoothing is implicated in unclaimed dividends among Nigerian non-financial firms. The research used panel data and employed Generalized Method of Moment as method of analysis. The research finds evidence of dividends-smoothing in this era of unclaimed dividends in Nigeria. The research concludes that dividends-smoothing is a trigger and red flag for unclaimed dividends, an output of earnings management. If earnings management and hence unclaimed dividends in Nigeria is allowed to continue, it will lead to great consequences to the investors and corporate policy of government. It is believed that the research will assist investors and government in making informed decisions regarding dividends policy in Nigeria.

Keywords: dividends smoothing, non financial companies, Nigerian stock exchange, unclaimed dividends, corporate earnings management

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Authors: Mirza Ahsan Baig, Paul Evans

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Due to the high demand for automobiles, manufacturers have to run their production lines non-stop for long periods. At such a scale, unplanned downtime could cost up to $50 billion annually. Improper training of new hires could lead to safety issues causing unplanned downtimes. The project developed a virtual reality simulation that could train personnel for key operations on an automobile manufacturing floor, reducing the risk of unplanned downtime while eliminating any disruption (due to training) on the assembly line. An automation firm sponsored it to explore the possibilities the likes of Jaguar and BMW are yet to achieve! The project was inspired by Bentley, the only company that succeeded in simulation training scenarios within virtual space. The project aims to inspire other significant firms to do the same. It was increasing employee safety, eliminating downtimes, and improving efficiency. The developed prototype uncovered various limitations within existing simulation providers and was able to simulate state-of-the-art training scenarios. It also explored the possibility of a multiuser interface and resolved complex issues such as lack of movement space within the training area.

Keywords: virtual reality, scenario training, limited movement, multiuser

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Authors: Arūnas Burinskas

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Although Europe is on the threshold of a new industrial revolution called Industry 4.0, many believe that this will increase the flexibility of production, the mass adaptation of products to consumers and the speed of their service; it will also improve product quality and dramatically increase productivity. However, as expected, all the benefits of Industry 4.0 face many of the inevitable changes and challenges they pose. One of them is the inevitable transformation of current competition and business models. This article examines the possible results of competitive conversion from the classic Bertrand and Cournot models to qualitatively new competition based on innovation. Ability to deliver a new product quickly and the possibility to produce the individual design (through flexible and quickly configurable factories) by reducing equipment failures and increasing process automation and control is highly important. This study shows that the ongoing transformation of the competition model is changing the game. This, together with the creation of complex value networks, means huge investments that make it particularly difficult for small and medium-sized enterprises. In addition, the ongoing digitalization of data raises new concerns regarding legal obligations, intellectual property, and security.

Keywords: Bertrand and Cournot Competition, competition model, industry 4.0, industrial organisation, monopolistic competition

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Authors: L. Sudbury-Riley, P. Hunter-Jones, L. Menzies, M. Pyrah, H. Knight

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Just as manufacturing firms aim for zero defects, service providers strive to avoid service failures where customer expectations are not met. However, because services comprise unique human interactions, service failures are almost inevitable. Consequently, firms focus on service recovery strategies to fix problems and retain their customers for the future. Because a hospice offers care to terminally ill patients, it may not get the opportunity to correct a service failure. This situation makes the identification of what hospice users really need and want, and to ascertain perceptions of the hospice’s service delivery from the user’s perspective, even more important than for other service providers. A well-documented and fundamental barrier to improving end-of-life care is a lack of service quality measurement tools that capture the experiences of user’s from their own perspective. In palliative care, many quantitative measures are used and these focus on issues such as how quickly patients are assessed, whether they receive information leaflets, whether a discussion about their emotional needs is documented, and so on. Consequently, quality of service from the user’s perspective is overlooked. The current study was designed to overcome these limitations by adapting service blueprinting - never before used in the hospice sector - in order to undertake a ‘deep-dive’ to examine the impact of hospice services upon different users. Service blueprinting is a customer-focused approach for service innovation and improvement, where the ‘onstage’ visible service user and provider interactions must be supported by the ‘backstage’ employee actions and support processes. The study was conducted in conjunction with East Cheshire Hospice in England. The Hospice provides specialist palliative care for patients with progressive life-limiting illnesses, offering services to patients, carers and families via inpatient and outpatient units. Using service blueprinting to identify every service touchpoint, in-depth qualitative interviews with 38 in-patients, outpatients, visitors and bereaved families enabled a ‘deep-dive’ to uncover perceptions of the whole service experience among these diverse users. Interviews were recorded and transcribed, and thematic analysis of over 104,000 words of data revealed many excellent aspects of Hospice service. Staff frequently exceed people’s expectations. Striking gratifying comparisons to hospitals emerged. The Hospice makes people feel safe. Nevertheless, the technique uncovered many areas for improvement, including serendipity of referrals processes, the need for better communications with external agencies, improvements amid the daunting arrival and admissions process, a desperate need for more depression counselling, clarity of communication pertaining to actual end of life, and shortcomings in systems dealing with bereaved families. The study reveals that the adapted service blueprinting tool has major advantages of alternative quantitative evaluation techniques, including uncovering the complex nature of service user’s experiences in health-care service systems, highlighting more fully the interconnected configurations within the system and making greater sense of the impact of the service upon different service users. Unlike other tools, this in-depth examination reveals areas for improvement, many of which have already been implemented by the Hospice. The technique has potential to improve experiences of palliative and end-of-life care among patients and their families.

Keywords: hospices, end-of-life-care, service blueprinting, service delivery

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Authors: Giuliana Scuderi, Patrick Teuffel

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The proven vulnerability of the existing social housing building heritage to natural or induced earthquakes requires the development of new design concepts and conceptual method to preserve materials and object, at the same time providing new performances. An integrate intervention between civil engineering, building physics and architecture can convert the social housing districts from a critical part of the city to a strategic resource of revitalization. Referring to bio-mimicry principles the present research proposes a taxonomy with the exoskeleton of the insect, an external, light and resistant armour whose role is to protect the internal organs from external potentially dangerous inputs. In the same way, a “building exoskeleton”, acting from the outside of the building as an enclosing cage, can restore, protect and support the existing building, assuming a complex set of roles, from the structural to the thermal, from the aesthetical to the functional. This study evaluates the structural efficiency of shape memory alloys devices (SMADs) connecting the “building exoskeleton” with the existing structure to rehabilitate, in order to prevent the out-of-plane collapse of walls and for the passive dissipation of the seismic energy, with a calibrated operability in relation to the intensity of the horizontal loads. The two case studies of a masonry structure and of a masonry structure with concrete frame are considered, and for each case, a theoretical social housing building is exposed to earthquake forces, to evaluate its structural response with or without SMADs. The two typologies are modelled with the finite element program SAP2000, and they are respectively defined through a “frame model” and a “diagonal strut model”. In the same software two types of SMADs, called the 00-10 SMAD and the 05-10 SMAD are defined, and non-linear static and dynamic analyses, namely push over analysis and time history analysis, are performed to evaluate the seismic response of the building. The effectiveness of the devices in limiting the control joint displacements resulted higher in one direction, leading to the consideration of a possible calibrated use of the devices in the different walls of the building. The results show also a higher efficiency of the 00-10 SMADs in controlling the interstory drift, but at the same time the necessity to improve the hysteretic behaviour, to maximise the passive dissipation of the seismic energy.

Keywords: adaptive structure, biomimetic design, building exoskeleton, social housing, structural envelope, structural retrofitting

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Authors: Alexander Marx

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Measuring and mitigating market risk is essential for the stability of enterprises, especially for major banking corporations and investment bank firms. To employ these risk measurement and mitigation processes, the Value at Risk (VaR) is the most commonly used risk metric by practitioners. In the past years, we have seen significant weaknesses in the predictive performance of the VaR in times of financial market crisis. To address this issue, the purpose of this study is to investigate the value-at-risk (VaR) estimation models and their predictive performance by applying a series of backtesting methods on the stock market indices of the G7 countries (Canada, France, Germany, Italy, Japan, UK, US, Europe). The study employs parametric, non-parametric, and semi-parametric VaR estimation models and is conducted during three different periods which cover the most recent financial market crisis: the overall period (2006–2022), the global financial crisis period (2008–2009), and COVID-19 period (2020–2022). Since the regulatory authorities have introduced and mandated the Conditional Value at Risk (Expected Shortfall) as an additional regulatory risk management metric, the study will analyze and compare both risk metrics on their predictive performance.

Keywords: value at risk, financial market risk, banking, quantitative risk management

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Authors: Ari Lindeman, Melina Maunula, Jani Kiviranta, Ronja Pölkki

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The aim of this paper is to build a vision of the utilization of creative industry competences in industrial and services firms connected to Kymenlaakso region, Finland, smart specialization focus areas. Research indicates that creativity and the use of creative industry’s inputs can enhance innovation and competitiveness. Currently creative methods and services are underutilized in regional businesses and the added value they provide is not well grasped. Methodologically, the research adopts a qualitative exploratory approach. Data is collected in multiple ways including a survey, focus groups, and interviews. Theoretically, the paper contributes to the discussion about the use creative industry competences in regional development, and argues for building regional creative economy ecosystems in close co-operation with regional strategies and traditional industries rather than as treating regional creative industry ecosystem initiatives separate from them. The practical contribution of the paper is the creative vision for the use of regional authorities in updating smart specialization strategy as well as boosting industrial and creative & cultural sectors’ competitiveness. The paper also illustrates a research-based model of vision building.

Keywords: business, cooperation, creative economy, regional development, vision

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Authors: Raúl Bajo-Buenestado

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This paper studies the impact of the intensity of market competition on firms' willingness to adopt green technologies —which has become particularly relevant in the light of the debate on whether competition policies should be relaxed to achieve certain environmental targets. We exploit the staggered rollout of different rail-hailing platforms (most notably, Uber) across different metropolitan areas in Spain as a natural experiment that provides time and city-specific exogenous variation in the intensity of competition to study the impact on taxi drivers' decisions to purchase “green” or “dirty” vehicles. It was shown that the entry of these platforms significantly increased the takeout of green vehicles among professional drivers in incumbent (dominant) conventional taxi companies and decreased that of dirty vehicles. The exact opposite effect is observed in the cities where these platforms were extremely unlikely to enter. Back of the envelope calculations suggest that the entry of Uber is associated with an extra green vehicle purchase in every four among taxi drivers, resulting in a substantial drop in the level of emissions from the taxi fleet —still mostly dominated diesel vehicles.

Keywords: technological change, green technology adoption, market competition, diffusion of technology, environmental externalities

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Authors: Julio Macedo

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Several methodologies are now available to conceive the improvements of a process so that it becomes competitive as for example total quality, process reengineering, six sigma, define measure analysis improvement control method. These improvements are of different nature and can be external to the process represented by an optimization model or a discrete simulation model. In addition, the process stakeholders are several and have different desired performances for the process. Hence, the methodologies above do not have a tool to aid in the conception of the required improvements. In order to fill this void we suggest the use of intelligent reference models. A reference model is a set of qualitative differential equations and an objective function that minimizes the gap between the current and the desired performance indexes of the process. The reference models are intelligent so when they receive the current state of the problematic process and the desired performance indexes they generate the required improvements for the problematic process. The reference models are fuzzy cognitive maps added with an objective function and trained using the improvements implemented by the high performance firms. Experiments done in a set of students show the reference models allow them to conceive more improvements than students that do not use these models.

Keywords: continuous improvement, fuzzy cognitive maps, process competitiveness, qualitative simulation, system dynamics

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Authors: Kathrin Endres, Daniela Greven

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Although chatbots are a widely known and established communication instrument in B2C customer services, B2B industries still hesitate to implement chatbots due to the incertitude of customer acceptance. While many studies examine the chatbot acceptance of B2C consumers, few studies are focusing on the B2B sector, where the customer is represented by a buying center consisting of several stakeholders. This study investigates the challenges of chatbot acceptance in B2B industries compared to challenges of chatbot acceptance from current B2C literature by interviewing experts from German chatbot vendors. The results show many similarities between the customer requirements of B2B customers and B2C consumers. Still, due to several stakeholders involved in the buying center, the features of the chatbot users are more diverse but obfuscated at the same time. Using a factorial survey, this study further examines the customer acceptance of varying situations of B2B chatbot designs based on the chatbot variables transparency, fault tolerance, complexity of products, value of products, as well as transfer to live chat service employees. The findings show that all variables influence the propensity to use the chatbot. The results contribute to a better understanding of how firms in B2B industries can design chatbots to advance their customer service and enhance customer satisfaction.

Keywords: chatbots, technology acceptance, B2B customer service, customer satisfaction

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Authors: Inezia Aurelia, Soebowo Musa

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Many firms still fail to develop organizational agility. There are more than 40% of organizations think that they are low/not agile in facing market change. Organizational culture plays an important role in developing the organizations to be adaptive in order to manage the VUCA effectively. This study examines the relationships of organizational culture towards participative leadership, employee satisfaction, employee work motivation, organizational learning, and absorptive capacity in developing organizational agility in managing the VUCA environment. 263 employees located from international chemical-based company offices across the globe who have worked for more than three years were the respondents in this study. This study showed that organizational clan culture promotes the development of participative leadership, which it has an empowering effect on people in the organization resulting in employee satisfaction. The study also confirms the role of organizational culture in creating organizational behavior within the organization that fosters organizational learning, absorptive capacity, and organizational agility, while the study also found that the relationship between participative leadership and employee work motivation is not significant.

Keywords: absorptive capacity, employee satisfaction, employee work motivation, organizational agility, organizational culture, organizational learning, participative leadership

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Authors: Yinghua Huang, Tsu-Hong Yen

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The latest advance in leadership research has revealed that leadership is co-created through the combined action of leading and following. The role of followers is as important as leaders in the leadership process. However, the previous leadership studies often conceptualize leadership as a leader-centric process, while the role of followers is largely neglected in the literature. Until recently, followership studies receives more attention because the character and behavior of followers are as vital as the leader during the leadership process. Yet, there is a dearth of followership research in the context of tourism and hospitality industries. Therefore, this study seeks to fill in the gap of knowledge and investigate the followership styles in the U.S. hospitality workforce. In particular, the objectives of this study are to identify popular followership practices among hospitality employees and evaluate hospitality employees' followership styles using Kelley’s followership typology framework. This study also compared the generational differences in followership styles among hospitality employees. According to the U.S. Bureau of Labor Statistics, the workforce in the lodging and foodservice sectors consists of around 12% baby boomers, 29% Gen Xs, 23% Gen Ys, and 36% Gen Zs in 2019. The diversity of workforce demographics in the U.S. hospitality industry calls for more attention to understand the generational differences in followership styles and organizational performance. This study conducted an in-depth interview and a questionnaire survey to collect both qualitative and quantitative data. A snowball sampling method was used to recruit participants working in the hospitality industry in the San Francisco Bay Area, California, USA. A total of 120 hospitality employees participated in this study, including 22 baby boomers, 32 Gen Xs, 30 Gen Ys, and 36 Gen Zs. 45% of the participants were males, and 55% were female. The findings of this study identified good followership practices across the multi-generational participants. For example, a Gen Y participant said that 'followership involves learning and molding oneself after another person usually an expert in an area of interest. I think of followership as personal and professional development. I learn and get better by hands-on training and experience'. A Gen X participant said that 'I can excel by not being fearful of taking on unfamiliar tasks and accepting challenges.' Furthermore, this study identified five typologies of Kelley’s followership model among the participants: 45% exemplary followers, 13% pragmatist followers, 2% alienated followers, 18% passive followers, and 23% conformist followers. The generational differences in followership styles were also identified. The findings of this study contribute to the hospitality human resource literature by identifying the multi-generational perspectives of followership styles among hospitality employees. The findings provide valuable insights for hospitality leaders to understand their followers better. Hospitality leaders were suggested to adjust their leadership style and communication strategies based on employees' different followership styles.

Keywords: followership, hospitality workforce, generational diversity, Kelley’s followership topology

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Authors: Anjali Sadanand, R. V. Nagarajan

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Architecture morphs with advances in technology and the roof, wall, and floor as basic elements of a building, follow in redefining themselves over time. Their contribution is bound by time and held by design principles that deal with function, sturdiness, and beauty. Architecture engages with people to give joy through its form, material, design structure, and spatial qualities. This paper attempts to re-interpret John Ruskin’s “Seven lamps of Architecture” in the context of the architecture of the modern and present period. The paper focuses on the “wall” as an element of study in this context. Four of Ruskin’s seven lamps will be discussed, namely beauty, truth, life, and memory, through examples of architecture ranging from modernism to contemporary architecture of today. The study will focus on the relevance of Ruskin’s principles to the “wall” in specific, in buildings of different materials and over a range of typologies from all parts of the world. Two examples will be analyzed for each lamp. It will be shown that in each case, there is relevance to the significance of Ruskin’s lamps in modern and contemporary architecture. Nature to which Ruskin alludes to for his lamp of “beauty” is found in the different expressions of interpretation used by Corbusier in his Villa Stein façade based on proportion found in nature and in the direct expression of Toyo Ito in his translation of an understanding of the structure of trees into his façade design of the showroom for a Japanese bag boutique. “Truth” is shown in Mies van der Rohe’s Crown Hall building with its clarity of material and structure and Studio Mumbai’s Palmyra House, which celebrates the use of natural materials and local craftsmanship. “Life” is reviewed with a sustainable house in Kerala by Ashrams Ravi and Alvar Aalto’s summer house, which illustrate walls as repositories of intellectual thought and craft. “Memory” is discussed with Charles Correa’s Jawahar Kala Kendra and Venturi’s Vana Venturi house and discloses facades as text in the context of its materiality and iconography. Beauty is reviewed in Villa Stein and Toyo Ito’s Branded Retail building in Tokyo. The paper thus concludes that Ruskin’s Lamps can be interpreted in today’s context and add richness to meaning to the understanding of architecture.

Keywords: beauty, design, facade, modernism

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Authors: Amit Kohli, Pooja Lekhi, Gihan Adel Amin Hafez

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Blockchain is a distributor ledger technology trend that extended to different fields and proved a remarkable success. Blockchain technology is a vital proliferation technique that recuperates the food supply chain traceability process. While tracing is the core of the food supply chain; still, a complex system mitigates the exceptional risk of food contamination, foodborne, food waste, and food fraud. In addition, the upsurge of food supply chain data variance and variety in the traceability system requires complete transparency, a secure, steadfast, sustainable, and efficient approach to face the food supply chain challenges. On the other hand, blockchain technical aspects merged with a detailed implementation plan, the advantages and challenges in food traceability have not been much elucidated for small and medium enterprises (SMEs.) This paper demonstrated the advantages and challenges of applying blockchain in SMEs combined with the success stories of firms implementing blockchain to cover the gap. Moreover, blockchain architecture in SMEs and how technology, organization, and environment frameworks can guarantee the success of blockchain implementation have been revealed.

Keywords: blockchain technology, small and medium enterprises, food traceability, blockchain architecture

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Authors: Deepika Joshi

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Operations in automotive industry rely greatly on information shared between Supply Chain (SC) partners. This leads to efficient and effective management of SC activity. Automotive sector in India is growing at 14.2 percent per annum and has huge economic importance. We find that no study has been carried out on the role of information sharing in SC management of Indian automotive manufacturers. Considering this research gap, the present study is planned to establish the significance of information sharing in Indian auto-component supply chain activity. An empirical research was conducted for large scale auto component manufacturers from India. Twenty four Supply Chain Performance Indicators (SCPIs) were collected from existing literature. These elements belong to eight diverse but internally related areas of SC management viz., demand management, cost, technology, delivery, quality, flexibility, buyer-supplier relationship, and operational factors. A pair-wise comparison and an open ended questionnaire were designed using these twenty four SCPIs. The questionnaire was then administered among managerial level employees of twenty-five auto-component manufacturing firms. Analytic Network Process (ANP) technique was used to analyze the response of pair-wise questionnaire. Finally, twenty-five priority indexes are developed, one for each respondent. These were averaged to generate an industry specific priority index. The open-ended questions depicted strategies related to information sharing between buyers and suppliers and their influence on supply chain performance. Results show that the impact of information sharing on certain performance indicators is relatively greater than their corresponding variables. For example, flexibility, delivery, demand and cost related elements have massive impact on information sharing. Technology is relatively less influenced by information sharing but it immensely influence the quality of information shared. Responses obtained from managers reveal that timely and accurate information sharing lowers the cost, increases flexibility and on-time delivery of auto parts, therefore, enhancing the competitiveness of Indian automotive industry. Any flaw in dissemination of information can disturb the cycle time of both the parties and thus increases the opportunity cost. Due to supplier’s involvement in decisions related to design of auto parts, quality conformance is found to improve, leading to reduction in rejection rate. Similarly, mutual commitment to share right information at right time between all levels of SC enhances trust level. SC partners share information to perform comprehensive quality planning to ingrain total quality management. This study contributes to operations management literature which faces scarcity of empirical examination on this subject. It views information sharing as a building block which firms can promote and evolve to leverage the operational capability of all SC members. It will provide insights for Indian managers and researchers as every market is unique and suppliers and buyers are driven by local laws, industry status and future vision. While major emphasis in this paper is given to SC operations happening between domestic partners, placing more focus on international SC can bring in distinguished results.

Keywords: Indian auto component industry, information sharing, operations management, supply chain performance indicators

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Authors: Gayathri P. Nair

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The focus of this study is to identify whether the board structure has any significant impact on the firm performance and finding out any evidence of being listed in the Fortune 500 list compiled and published by the American business magazine, Fortune and published globally by Time Inc., as the world’s wealthiest companies. The list has been released based on the ranking obtained for the total revenues for the respective fiscal year which has ended on or before March 31st. The study has been conducted on the Indian companies that were listed in the Fortune 500 list for the past 10 years. This study employs a logical regression between the variables, firm performance and board composition as mentioned in the clause 49 of companies act 1956 and 2013. For getting the firm performance, ROA has selected as the key performance metric, as it focuses the management attention on the assets required to run the business. The highlight of the study is that the tools had been applied between public and private sector firms so that, it reveals whether the board composition is helping out to maintain the position in the list. In addition, the findings reveal that apart from independent directors, all other variables have significant impact on firm performance.

Keywords: board structure, Fortune 500 company, firm performance, India

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Authors: Maha Hammami, Olfa Benouda Sioud

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This study investigates the reliability of management earnings forecasts with reference to these two ingredients: verifiability and neutrality. Specifically, we examine the biasedness (or accuracy) of management earnings forecasts and company specific characteristics that can be associated with accuracy. Based on sample of 102 IPO prospectuses published for admission on NYSE Euronext Paris from 2002 to 2010, we found that these forecasts are on average optimistic and two of the five test variables, earnings variability and financial leverage are significant in explaining ex post bias. Acknowledging the possibility that the bias is the result of the managers’ forecasting behavior, we then examine whether managers decide to under-predict, over-predict or forecast accurately for self-serving purposes. Explicitly, we examine the role of financial distress, operating performance, ownership by insiders and the economy state in influencing managers’ forecasting preferences. We find that managers of distressed firms seem to over-predict future earnings. We also find that when managers are given more stock options, they tend to under-predict future earnings. Finally, we conclude that the management earnings forecasts are affected by an intentional bias due to managers’ forecasting preferences.

Keywords: intentional bias, management earnings forecasts, neutrality, verifiability

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Authors: Xiaohong Wu, Tao Zhang

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Since Macau opened its door to international gambling firms in 2002, Macau casino hotel industry has been booming. Casino hotels are different from the non-casino hotels in the main profit source and services. The paper aims to analyze differences in employees’ work stress and job satisfaction across the casino hotels and the non-casino hotels. Through questionnaires, the paper investigates 200 employees from casino hotels and 200 employees from non-casino hotels. Work stress and job satisfaction of employees in casino hotels and non-casino hotels are compared. Statistic techniques such as descriptive statistics and one-way analysis of variance (one-way ANOVA) are applied. The paper tries to achieve the below aims: Firstly, explore and compare the impact of gender, job position, marital status and fertility status on employees’ work stress and job satisfaction. Secondly, explore the perception of work stress and job satisfaction across casino hotel and non-casino hotel employees. Thirdly, explore the relationship between work stress and job satisfaction. The result indicates there are not significant differences in employees’ work stress and job satisfaction perception between different genders, positions, marital situations and fertility situations. The result confirms there are significant differences in employees’ work stress and job satisfaction perception between casino and non-casino employees. Moreover, Work stress negatively influences job satisfaction.

Keywords: casino, employee, job satisfaction, work stress

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Authors: Benga Ebouele, Thomas Tengen

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Due to long lead time, work in process (WIP) inventory can manifest within the supply chain of most manufacturing system. It implies that there are lesser finished good on hand and more in the process because the work remains in the factory too long and cannot be sold to either customers The supply chain of most manufacturing system is then considered as inefficient as it take so much time to produce the finished good. Time consumed in each operation of the supply chain has an associated energy costs. Such phenomena can be harmful for a hybrid inventory system because a lot of space to store these semi-finished goods may be needed and one is not sure about the final energy cost of producing, holding and delivering the good to customers. The principle that reduces waste of energy within the supply chain of most manufacturing firms should therefore be available to all inventory managers in pursuit of profitability. Decision making by inventory managers in this condition is a modeling process, whereby a dynamical approach is used to depict, examine, specify and even operationalize the relationship between energy consumption and hybrid inventory level. The relationship between energy consumption and inventory level is established, which indicates a poor level of control and hence a potential for energy savings.

Keywords: dynamic modelling, energy used, hybrid inventory, supply chain

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Authors: Rabail Khalid

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Social media has changed the business communication strategies in the corporate world. Firms are using social media to reach their maximum stakeholders in minimum time at different social media forums. The current study examines the role of firm-created social media communication on consumer brand perceptions and their loyalty to brand. An online survey is conducted through social media forums including Facebook and Twitter to collect data regarding social media communication of a well-reputed clothing company’s brand in Pakistan. A link is sent to 900 customers of that company. Out of 900 questionnaires, 534 were received. So, the response rate is 59.33%. During data screening and entry, 13 questionnaires are rejected due to incomplete answer. Therefore, 521 questionnaires are completed in all respect and seem to be helpful for the study. So, the positive response rate is 57.89%. The empirical results report positive and significant influence of company-generated social media communication on brand trust, brand equity, and brand loyalty. The findings of this study provide important information to the marketing professionals and brand managers to understand consumer behavior through social media communication.

Keywords: firm-created social media communication, brand trust, brand equity, consumer behavior, brand loyalty

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Authors: Bessy Thuranira

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Buildings, as they are designed and used, may contribute to serious environmental problems because of excessive consumption of energy and other natural resources. Buildings in the informal settlements particularly, due to their unplanned physical structure and design, have significantly contributed the global energy problematic scenario typified by high-level inefficiencies. Energy used in buildings in Africa is estimated to be the highest of the total national electricity consumption. Over the last decade, assessments of energy consumption and efficiency/inefficiency has focused on formal and modern buildings. This study seeks to go off the beaten path, by focusing on energy use in informal settlements. Operationally, it sought to establish the contribution of informal buildings in the overall energy consumption in the city and the country at large. This study was carried out in Mukuru kwa Reuben informal settlement where there is distinct manifestation of different settlement morphologies within a small locality. The research narrowed down to three villages (Mombasa, Kosovo and Railway villages) within the settlement, that were representative of the different slum housing typologies. Due to the unpredictability nature and informality in slums, this study takes a multi-methodology approach. Detailed energy audits and measurements are carried out to predict total building consumption, and document building design and envelope, typology, materials and occupancy levels. Moreover, the study uses semi-structured interviews and to access energy supply, cost, access and consumption patterns. Observations and photographs are also used to shed more light on these parameters. The study reveals the high energy inefficiencies in slum buildings mainly related to sub-standard equipment and appliances, building design and settlement layout, poor access and utilization/consumption patterns of energy. The impacts of this inefficiency are high economic burden to the poor, high levels of pollution, lack of thermal comfort and emissions to the environment. The study highlights a set of urban planning and building design principles that can be used to retrofit slums into more energy efficient settlements. The study explores principles of responsive settlement layouts/plans and appropriate building designs that use the beneficial elements of nature to achieve natural lighting, natural ventilation, and solar control to create thermally comfortable, energy efficient, and environmentally responsive buildings/settlements. As energy efficiency in informal settlements is a relatively less explored area of efficiency, it requires further research and policy recommendations, for which this paper will set a background.

Keywords: energy efficiency, informal settlements, renewable energy, settlement layout

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Authors: Laaziz El Hassan

Abstract:

The Service Network Design Problem (SNDP) is a tactical issue in freight transportation firms. The existing formulations of the problem for intermodal rail-road transportation were not always adapted to the intermodality in terms of full asset utilization and modal shift reinforcement. The objective of the article is to propose a model having a more compliant formulation with intermodality, including constraints highlighting the imperatives of asset management, reinforcing modal shift from road to rail and reducing, by the way, road mode CO2 emissions. The model is a fixed charged, path based integer nonlinear program. Its objective is to minimize services total cost while ensuring full assets utilization to satisfy freight demand forecast. The model's main feature is that it gives as output both the train sizes and the services frequencies for a planning period. We solved the program using a commercial solver and discussed the numerical results.

Keywords: intermodal transport network, service network design, model, nonlinear integer program, path-based, service frequencies, modal shift

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Authors: Nazli Akhlaghinia, Ali Rajabzadeh Ghatari

Abstract:

In today's world, with increasing environmental awareness, firms are facing severe pressure from various stakeholders, including the government and customers, to reduce their harmful effects on the environment. Over the past few decades, the increasing effects of global warming, climate change, waste, and air pollution have increased the global attention of experts to the issue of the green supply chain and led them to the optimal solution for greenery. Green supply chain management (GSCM) plays an important role in motivating the sustainability of the organization. With increasing environmental concerns, the main objective of the research is to use system thinking methodology and Vensim software for designing a dynamic system model for green supply chain and observing behaviors. Using this methodology, we look for the effects of a green supply chain structure on the behavioral dynamics of output variables. We try to simulate the complexity of GSCM in a period of 30 months and observe the complexity of behaviors of variables including sustainability, providing green products, and reducing energy consumption, and consequently reducing sample pollution.

Keywords: supply chain management, green supply chain management, system dynamics, energy consumption

Procedia PDF Downloads 118

Authors: Majid Lotfi Ghahroud, Seyed Jalal Tabatabaei, Ebrahim Karami, AmirArsalan Ghergherechi, Amir Ali Saeidi

Abstract:

In this study, the relationship between investment growth and stock returns of companies listed in Tehran Stock Exchange and whether their relationship -behavioral or risk factors- are discussed. Generally, there are two perspectives; risk-based approach and behavioral approach. According to the risk-based approach due to increase investment, systemic risk and consequently the stock returns are reduced. But due to the second approach, an excessive optimism or pessimism leads to assuming stock price with high investment growth in the past, higher than its intrinsic value and the price of stocks with lower investment growth, less than its intrinsic value. The investigation period is eight years from 2007 to 2014. The sample consisted of all companies listed on the Tehran Stock Exchange. The method is a portfolio test, and the analysis is based on the t-student test (t-test). The results indicate that there is a negative relationship between investment growth and stock returns of companies and this negative correlation is stronger for firms with higher cash flow. Also, the negative relationship between asset growth and stock returns is due to behavioral factors.

Keywords: behavioral theory, investment growth, risk-based theory, stock returns

Procedia PDF Downloads 138

Authors: Shailendra Natraj, Kristin Paetzold, B. R. Katzy

Abstract:

The significant role of technology in strategic business decisions has created the need for executives who understand technology and recognize profitable applications to products, services and processes. The role of CTO’s is very complex within technology-based firms, which stretches from the technology aspects to the strategic goal and vision of the firm. Often the roles of CTOs scales from as functional leaders, strategic leaders or supera- functional leaders. In most of the companies the roles are unclear and fuzzy. We in our research are trying to explore each of the orientation and link between leadership types (functional, strategic and super functional) of CTOs, responsibilities, credibility and strategic and conceptual responsibilities. Approach: We conducted a comprehensive literature review with the available databank sources. Results: From the conducted literature review we could identify that most of the research work conducted so far were mainly distributed between roles and responsibilities of CTOs. The available sources pointed were limited to roles of CTOs as functional leaders. Contribution: In our findings based on the literature review, we could identify that apart from the conducted research what so far has not been focused yet are (a) The leadership types (mainly) strategic and super-functional leaders) of CTOs, (b) the responsibilities and credibility of CTOs and (c) the strategic and conceptual responsibilities of CTOs.

Keywords: CTO, chief technology officer, strategy, technology leaders

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Authors: James Kinsella

Abstract:

There is currently very little understanding of how the interaction between in- vestors, consumers, the firms (agents) affect a) the transmission of information, and b) the creation and transfer of value and wealth between these two groups. Employing scholarly ideas from multiple research areas (behavioural finance, emotional finance, econo-biology, and game theory) we develop a conceptual the- oretic model (the ‘bow-tie’ model) as a framework for considering this interaction. Our bow-tie model views information transfer, value and wealth creation, and transfer through the lens of “investor-consumer connection facilitated through the communicative medium of the ‘firm’ (agents)”. We confront our bow-tie model with theoretical and practical examples. Next, we utilise consumer and business confidence data alongside index data, to conduct quantitative analy- sis, to support our bow-tie concept, and to introduce the concept of “investor- consumer connection”. We highlight the importance of information persuasiveness, knowledge, and emotional categorization of characteristics in facilitating a communicative relationship between investors, consumers, and the firm (agents), forming academic and practical applications of the conceptual bow-tie model, alongside applications to wider instances, such as those seen within the Covid-19 pandemic.

Keywords: behavioral finance, emotional finance, economy-biology, social mood

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Authors: Maryam Al Mheiri, Khaled Al Awadi

Abstract:

Urban population is continuously increasing worldwide and the speed at which cities urbanize creates major challenges, particularly in terms of creating sustainable urban environments. Rapid urbanization often leads to negative environmental impacts and changes in the urban microclimates. Moreover, when rapid urbanization is paired with limited landscape elements, the effects on human health due to the increased pollution, and thermal comfort due to Urban Heat Island effects are increased. Urban Heat Island (UHI) describes the increase of urban temperatures in urban areas in comparison to its rural surroundings, and, as we discuss in this paper, it impacts on pedestrian comfort, reducing the number of walking trips and public space use. It is thus very necessary to investigate the quality of outdoor built environments in order to improve the quality of life incites. The main objective of this paper is to address the morphology of Emirati neighborhoods, setting a quantitative baseline by which to assess and compare spatial characteristics and microclimate performance of existing typologies in Abu Dhabi. This morphological mapping and analysis will help to understand the built landscape of Emirati neighborhoods in this city, whose form has changed and evolved across different periods. This will eventually help to model the use of different design strategies, such as landscaping, to mitigate UHI effects and enhance outdoor urban comfort. Further, the impact of different native plants types and native species in reducing UHI effects and enhancing outdoor urban comfort, allowing for the assessment of the impact of increasing landscaped areas in these neighborhoods. This study uses ENVI-met, an analytical, three-dimensional, high-resolution microclimate modeling software. This micro-scale urban climate model will be used to evaluate existing conditions and generate scenarios in different residential areas, with different vegetation surfaces and landscaping, and examine their impact on surface temperatures during summer and autumn. In parallel to these simulations, field measurement will be included to calibrate the Envi-met model. This research therefore takes an experimental approach, using simulation software, and a case study strategy for the evaluation of a sample of residential neighborhoods. A comparison of the results of these scenarios constitute a first step towards making recommendations about what constitutes sustainable landscapes for Abu Dhabi neighborhoods.

Keywords: landscape, microclimate, native plants, sustainable neighborhoods, thermal comfort, urban heat island

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Authors: Leesa Mohanty, Ashok Banerjee

Abstract:

Better audit quality signifies the financial statements of the auditee firm reflect true and fair view of their actual state of affairs, which reduces information asymmetry between management and shareholders, as a result, helps protect interests of shareholders. This study examines the impact of joint audit on audit quality. It is motivated by the ongoing debate where The Institute of Chartered Accountants of India (ICAI), the regulatory body governing auditors, has advocated the finance ministry and the Reserve Bank of India (RBI) for the mandatory use of joint audit in private banks to enhance the quality of audit. Earlier, the Government of India had rejected the plea by ICAI for mandatory joint audits in large companies stating it is not a viable option for promoting domestic firms. We introduce a new measure of audit quality. Drawing from the domain of text analytics, we use relevant phrases in audit reports to gauge audit quality and demonstrate that joint audit improves audit quality. We also, for robustness, use prevalent proxy for audit quality (Big N Auditor, ratio of audit fees to total fees) and find negative effect of joint audit on audit quality. We, therefore highlight that different proxy for audit quality show opposite effect of joint audit.

Keywords: audit fees, audit quality, Big N. Auditor, joint audit

Procedia PDF Downloads 326