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Astronomia Astrofizyka

Sztuka dawna i współczesna, muzea i kolekcje

Metodologia nauk, Matematyka, Filozofia, Miary i wagi, Pomiary

Substancje, reakcje, energia
Fizyka, chemia i inżynieria materiałowa

Antropologia kulturowa Socjologia Psychologia Zdrowie i medycyna

Przewidywania Kosmologia Religie Ideologia Polityka

Geologia, geofizyka, geochemia, środowisko przyrodnicze

Biologia, biologia molekularna i genetyka

Technologia cyberprzestrzeni, cyberkultura, media i komunikacja

Wiadomości | Gospodarka, biznes, zarządzanie, ekonomia

Budownictwo, energetyka, transport, wytwarzanie, technologie informacyjne

Journal of Industrial Engineering and Management

  • Purpose: The purpose of this paper is to characterize the cyclical phases of the manufacturing industry in Spain and detect which industries have more influence on the Spanish business cycle. We assume that economic growth is a priority; we are going to determine which industries have a more/less appropriate cyclical behavior according this priority. We analyze if the industries with better cyclical behavior are the ones that achieve greater co-movement with the business cycle of the Spanish economy, as this means they have a positive influence on economic activity. Design/methodology/approach: We examine the disaggregated quarterly IPI data of 16 manufacturing industries. Our methodology follows three steps. Firstly, we define cycle turning points; we follow the Harding and Pagan (2002) methodology. Secondly, we characterize the cyclical phases of the manufacturing industries in terms of duration, amplitude, deepness and steepness. We also determine the degree of inter-industrial cyclical synchronization and between industries in the cycle of the Spanish economy. This analysis is performed in two ways. On the one hand, we use the concordance index and the correlation coefficient. On the other hand, we work with indicators based on a consistency table. In the Third step, we apply a multi-objective methodology, specifically the compromise programming, to determine which industries have a more/less appropriate cyclical behavior according to the growth priority. Findings and Originality/value: The business cycle of the Spanish economy is positively influenced by high- and medium-tech industries, which have demonstrated their competitive capacity in international markets, and by medium- low-tech industries, with major strengths in R&D, and in survival and consolidation strategies. These results enable manufacturing industries to exert a positive effect on the business cycle that is weakened because many of them show a high correlation between employment and cyclical fluctuations. Originality/value: The study is original and useful on various levels. Firstly, the study of sectoral cycles makes it possible to identify common trends in the growth of business activities and to see the interdependence of fluctuations. Secondly, it will be easy to deduce which sectoral disruptions generate the greatest impact on economic activity. Finally, because the analysis of the manufacturing industry cycle has not yet carried out. 2014/10/02 - 16:42
  • Purpose: The purpose of this paper is to devise an innovative feasible, replicable and comprehensive assessment framework of a learning organization's competitive positioning. Design/methodology/approach: The three characteristics listed above are approached as follows. Feasible refers to being easy and not in need of much resources (time, personnel,...). This is done through early elimination of non-important variables. Replicable is having a well structured methodology based on scientific proven methods. Following this methodology would result in good results that can be explained if needed and replicated if deemed necessary. Comprehensive translates into a holistic set of indices that measure performance as well as organizational learning. Findings and Originality/value: The three attributes (feasible, replicable and comprehensive) have become crucial for ensuring any kind of added value for such a methodology that hopes to tackle the modern dynamic business environment and gaining a sustainable competitive advantage. Research limitations/implications: Such a methodology would require several full contextual applications to be able to set its final design. It entails thorough internal revision of a company's structure. Therefore a great deal of transparency and self-transcendence from the individual involved is a pre-requisite for any chance of success. Originality/value: It offers a systematic way to assess a company's performance/competitive positioning while accounting for the crucial attribute of organizational learning in its makeup. 2014/09/25 - 21:54
  • Purpose: The purpose of this paper is to define the relative optimal incentive contract to effectively encourage employees to improve work efficiency while actively implementing innovative behavior. Design/methodology/approach: This paper analyzes a two staged incentive contract coordinated with efficiency and innovation in Critical Chain Project Management using learning real options, based on principle-agent theory. The situational experiment is used to analyze the validity of the basic model. Finding: The two staged incentive scheme is more suitable for employees to create and implement learning real options, which will throw themselves into innovation process efficiently in Critical Chain Project Management. We prove that the combination of tolerance for early failure and reward for long-term success is effective in motivating innovation. Research limitations/implications: We do not include the individual characteristics of uncertain perception, which might affect the consistency of external validity. The basic model and the experiment design need to improve. Practical Implications: The project managers should pay closer attention to early innovation behavior and monitoring feedback of competition time in the implementation of Critical Chain Project Management. Originality/value: The central contribution of this paper is the theoretical and experimental analysis of incentive schemes for innovation in Critical Chain Project Management using the principal-agent theory, to encourage the completion of CCPM methods as well as imitative free-riding on the creative ideas of other members in the team. 2014/09/25 - 21:54
  • Purpose: A number of recent reports have suggested that communication and management skills are important competences for engineers today and are likely to continue so in the future.  While participation in strategy management decisions is expected to be important for engineers in technology driven firms, little attention is given to strategy management tools in many undergraduate engineering courses. The paper demonstrates one approach to tackling this issue. Design/methodology/approach: The authors initially present a critique of the use of standard strategy management tools SWOT analysis and Porter’s 5 Forces for decision making about future company policy. This critique is then complemented by a case-study of a university start-up, a recognized innovation-leader, in which SWOT analysis, Porter’s 5 Forces and PESTLE analysis are applied retrospectively as sense-making constructs to understand the firm’s previous policy decisions. Findings and Originality/value: The paper illustrates the potential of retrospective use of strategy management tools is demonstrated. Research limitations/implications: An obstacle confronting researchers in studies of this type is that for reasons of confidentiality it is difficult to gain access to current objective data on the financial situation and policy decisions of a firm. Furthermore this work presents a single case study. Both limitations are addressed in the appropriate section of the article. Originality/value: The value of the retrospective use of strategy management tools is illustrated.  The paper makes proposals regarding how such data can be employed in role-play activities in preparing engineers to develop interdisciplinary communication skills in the context of strategy management decision making 2014/09/25 - 21:54
  • Purpose: This paper considers a two-echelon supply chain composed of one risk-neutral supplier and two risk-averse retailers. The retailers obtain production from the supplier and sell them to the market. Based on the cooperative game theory, the paper studies the appropriate profit allocation of the supply chain when all the players cooperate with each other, where the two retailers face a price-sensitive stochastic demand. The two retailers can either determine their retail prices independently, or decide whether or not to cooperate with each other. Design/methodology/approach: To allocate the system-wide profit among upstream risk-neutral suppliers and two risk-averse downstream retailers, this paper constructed a cooperative game model, considered as the supermodularity of the characteristic function and the Shapley value of the game. Findings and Originality/value: By analyzing the construction’s cooperative game model, the results show that the profit of the whole supply chain is the highest in the grand coalition structure. This paper also shows that the core of our cooperative game is nonempty, and has the supermodularity property. Based on this, we have computed the Shapley value-based profit allocation for the whole supply chain in a fair manner. Originality/value: Although there are a lot of literature examined risk aversion in a supply chain, but they did not consider using cooperative game to study this problem. This the first study is in the context of a supply chain with risk aversion problem. 2014/09/23 - 22:17
  • Purpose The purpose of this paper is to investigate the concept of Vendor Managed Inventory (VMI) from an inter-organisational perspective. Extant literature on VMI tends to investigate the concept from a focal perspective, even though VMI has originally been born as a collaborative arrangement. Design/methodology/approach The paper is based on a literature review and an empirical study. It provides a comprehensive literature review on VMI and an illustrative case study of a supplier and a buyer jointly implementing VMI. Findings The findings of this paper are twofold. First, a literature review uncovers that contemporary research has delimited the analysis of VMI to a focal company perspective as current VMI cost models tend not to capture the picture of the complete supply chain. Second, it demonstrates through an illustrative case study that adoption of an inter-organisational approach to VMI is vital if companies are to optimize their buyer-supplier relationships. Research limitations/implications Future research should test the implications proposed in the empirical section, as this piece of research can be seen as exploratory case study research with the aim of analytical generalizations. Practical implications The inter-organisational VMI cost perspective in supply chains should be emphasized in purchasing departments since such a perspective significantly raises the awareness of the costs incurred in a supply chain. Originality/value Existing research has not explicitly focused on inter-organisational costs incurred by companies implementing VMI. This study seeks to bridge this research gap. 2014/09/23 - 22:17
  • Purpose: This work investigates the influence of project managers’ personality on the success of a project in a Multinational Corporation. The methodology proposed for analyzing the project managers’ personality is based on the Myers-Briggs Type Indicator.Design/methodology/approach: Forty projects carried out in 2012 by multinational corporation, concerning new product development (NPD), have been analyzed, comparing the profile of project managers with results obtained in terms of traditional performance indexes (time delay and over-budget of projects) and performance indexes usually used in “Lean Production” sector (waste time and type of “wastes”). A detailed analysis of the most important “wastes” during the project development is carried out using the Value Stream Mapping (VSM) technique.Findings and Originality/value: Relying on the Myers–Briggs personality instrument, results show that extroverted managers (as opposed to introverted managers) carry out projects that show lower delay and lower waste time. Introverted managers often make “Over-processing” and “Defect” types of waste. Moreover, lower delay and over-budget have been shown by perceiving managers.Research limitations: Regarding the limitations of this work it is necessary to highlight that we collected data from project managers in a retrospective way. While we believe that several aspects of our data collection effort helped enhance the accuracy of the results, future research could conduct real-time case study research to get more detailed insights into the proposed relationships and avoid retrospective bias. Moreover we focused on a single respondent, the project manager. This helped us ensure that their interpretations played an important role in product development. But, we cannot examined the opinion of team members that could be different from project managers opinion regarding some questions.Originality/value: This research provides insight useful to develop proactive approaches to prevent project failures, including the creation of more effective messages and methods to help companies to make the best choices during managers´ hiring. Moreover this research would allow organizations to better match the short-term organizational needs with appropriate personality types. 2014/09/23 - 22:17
  • Purpose: The aim of this article is developing an integrated production-inventory-marketing model for a two-stage supply chain. The demand rate is considered as the Iso-elastic decreasing function of the selling price.  The main research goal of the article is to obtain the optimal values of the selling price, order quantity and number of shipments for the proposed model under independent and also joint optimization. In addition, the effects of the model’s parameters on the optimal solution are investigated. Design/methodology/approach: Mathematical modeling is used to obtain the joint total profit function of the supply chain. Then, the iterative solution algorithm is presented to solve the model and determine the optimal solution. Findings and Originality/value: It is observed that under joint optimization, the demand rate and the supply chain’s profit are higher than their values under independent optimization, especially for the more price sensitive demand. Therefore, coordination between the buyer and the vendor is advantageous for the supply chain.  On the other hand, joint optimization will be less beneficial when there isn’t a significant difference between the buyer’s and the vendor’s holding costs. Originality/value: The contribution of the article is determining the ordering and pricing policy jointly in the supply chain, which contains one vendor and one buyer while the demand rate is the Iso-elastic function of the selling price. 2014/09/16 - 20:44
  • Purpose: This paper analyses the impact mechanism of international oil price on the industrial carbon emission, and uses the partial least squares regression model to study international oil price’s impact on carbon emissions in China’s transportation industry.Design/methodology/approach: This paper chooses five independent variables of GDP, international oil price, private car population, passenger and freight transportation volume as impact factors to investigate industrial carbon emissions, the paper also analyses the impact mechanism of international oil price on the industrial carbon emission, and finally the paper uses the partial least squares regression model to study international oil price’s impact on carbon emissions in China’s transportation industry. With the independent variables’ historical data from 1994 to 2009 as a sample, the fitting of the industry carbon emissions is satisfying. And based on the data of 2011, the paper maintains the private car owning, passenger and freight transportation volume to study international oil prices’ impact on the industry carbon emissions at different levels of GDP.Findings: The results show that: with the same GDP growth, the industry carbon emissions increase with the rise in international oil prices, and vice versa, the industry carbon emissions decrease; and lastly when GDP increases to a certain extent, in both cases of international oil prices’ rise or fall, the industry carbon emissions will go up, and the industry carbon emissions increase even faster while the energy prices are rising.Practical implications: Limit the growth in private-vehicle ownership, change China's transport sector within the next short-term in the structure of energy consumption and put forward China's new energy, alternative energy sources and renewable energy application so as to weaken the dependence on international oil, and indirectly slowdown China's GDP growth rate, which are all possible solutions to reduce China's transportation industry carbon emission.Originality/value: The paper presents a method to study international oil prices’ impact on the industry carbon emissions at different levels of GDP; and draws some corresponding proposals on industry carbon emission reduction. 2014/09/16 - 20:44
  • Purpose: The purpose of this paper is to help business marketers with offline channels to make decisions on whether to sell through Group-buying (GB) websites and how to set online price with the coordination of maximum deal size on GB websites. Design/methodology/approach: Considering the deal structure of GB websites especially for the service fee and minimum deal size limit required by GB websites, advertising effect of selling on GB websites, and interaction between online and offline markets, an analytical model is built to derive optimal online price and maximum deal size for sellers selling through GB website. This paper aims to answer four research questions: (1) How to make a decision on maximum deal size with coordination of the deal price? (2) Will selling on GB websites always be better than staying with offline channel only? (3) What kind of products is more appropriate to sell on GB website? (4)How could GB website operator induce sellers to offer deep discount in GB deals? Findings and Originality/value: This paper obtains optimal strategies for sellers selling on GB website and finds that: Even if a seller has sufficient capacity, he/she may still set a maximum deal size on the GB deal to take advantage of Advertisement with Limited Availability (ALA) effect; Selling through GB website may not bring a higher profit than selling only through offline channel when a GB site only has a small consumer base and/or if there is a big overlap between the online and offline markets; Low margin products are more suitable for being sold online with ALA strategies (LP-ALA or HP-ALA) than high margin ones; A GB site operator could set a small minimum deal size to induce deep discounts from the sellers selling through GB deals. Research limitations/implications: The present study assumed that the demand function is determinate and linear. It will be interesting to study how stochastic demand and a more general demand function affect the optimal strategies. Practical implications: This paper provides a very useful model framework and optimal strategies for sellers’ selling on GB website. It takes advantage of the analytical model to explain much typical practical phenomenon for E-commerce like free sale with limited availability and so forth. It also helps GB website operator to induce deep discount from sellers. Originality/value: This paper is a first attempt to examine the seller's GB sale decision problem regarding to price and bounds on deal sizes. It analyses how the minimum deal size set by the GB website affect the optimal decision of sellers’. Moreover, it also discusses the impact of the interactions between online and offline markets on sellers’ decision. 2014/09/16 - 20:44
  • Purpose: This study is to develop a systematic approach for determining the most efficient patient appointment scheduling (PAS) model for a specific healthcare setting with its multiple appointments requests characteristics in order to increase patients’ accessibility and resource utilization, and reduce operation cost. In this study, three general appointment scheduling models, centralized scheduling model (CSM), decentralized scheduling model (DSM) and hybrid scheduling model (HSM), are considered. Design/methodology/approach: The integration of discrete event simulation and data envelopment analysis (DEA) is applied to determine the most efficient PAS model. Simulation analysis is used to obtain the outputs of different configurations of PAS, and the DEA based on the simulation outputs is applied to select the best configuration in the presence of multiple and contrary performance measures. The best PAS configuration provides an optimal balance between patient satisfaction, schedulers’ utilization and the cost of the scheduling system and schedulers’ training. Findings: In the presence of high proportion (more than 70%) of requests for multiple appointments, CSM is the best PAS model. If the proportion of requests for multiple appointments is medium (25%-50%), HSM is the best. Finally, if the proportion of requests for multiple appointments is low (less than 15%), DSM is the best. If the proportion is in the interval from 15% to 25% the selected PAS model could be either DSM or HSM based on expert idea. Similarly, if the proportion is in the interval from 50% to 70% the best PAS model could be either CSM or HSM. Originality/value: This is the first study that determines the best PAS model for a particular healthcare setting. The proposed approach can be used in a variety of the healthcare settings. Keywords: data envelopment analysis, discrete event simulation, patient appointment scheduling, multiple appointments, centralized scheduling model, decentralized scheduling model, hybrid scheduling model 2014/09/16 - 20:44
  • Purpose: R&D and advertising have become important means to enhance the competitiveness of firms’ products. Design an appropriate model to help the firm to make the right choice is value in supply chain.Design/methodology/approach: In considering that whether the market is completely covered or not, we build the strategy selection model for R&D and advertising for two competing firms and solve the optimal strategy.Findings and Originality/value: The research results show that when a firm does not take any measures to enhance competitiveness, another firm will neither. However when one takes measures to improve the competitiveness, another will do so, also. When two firms must choose one measure to improve the competitiveness, either in full-covered market or not full-covered market, the two firms will not choose to do advertising in step, even if the firms do not have to pay additional cost in advertising.Originality/value: In the game model, the firm could compare the own profit in different strategies. According to the above model, the firm choose the right strategy to make the profit maximize in a vertically differentiated market. And when the firm make the choice, it must think about other primary elements such as market. 2014/07/02 - 11:33
  • Purpose: The aim of this paper is to deal with the supply chain management (SCM) with quantity discount policy under the complex fuzzy environment, which is characterized as the bi-fuzzy variables. By taking into account the strategy and the process of decision making, a bi-fuzzy nonlinear multiple objective decision making (MODM) model is presented to solve the proposed problem.Design/methodology/approach: The bi-fuzzy variables in the MODM model are transformed into the trapezoidal fuzzy variables by the DMs's degree of optimism ?1 and ?2, which are de-fuzzified by the expected value index subsequently. For solving the complex nonlinear model, a multi-objective adaptive particle swarm optimization algorithm (MO-APSO) is designed as the solution method.Findings: The proposed model and algorithm are applied to a typical example of SCM problem to illustrate the effectiveness. Based on the sensitivity analysis of the results, the bi-fuzzy nonlinear MODM SCM model is proved to be sensitive to the possibility level ?1.Practical implications: The study focuses on the SCM under complex fuzzy environment in SCM, which has a great practical significance. Therefore, the bi-fuzzy MODM model and MO-APSO can be further applied in SCM problem with quantity discount policy.Originality/value: The bi-fuzzy variable is employed in the nonlinear MODM model of SCM to characterize the hybrid uncertain environment, and this work is original. In addition, the hybrid crisp approach is proposed to transferred to model to an equivalent crisp one by the DMs's degree of optimism and the expected value index. Since the MODM model consider the bi-fuzzy environment and quantity discount policy, so this paper has a great practical significance. 2014/06/21 - 06:07
  • Purpose: Preventivelateral transshipment can respond to customers who will choose a substitute or to give up when the product is out of stock. Motivatedby the common practice, adecision-making model of preventive lateral transshipment with multi sellingperiods is developed. The purpose of the paper is to explore the optimal preventive lateral transshipment policy with multi selling periods.Design/methodology/approach: With adiscrete-time dynamic programming model, we take a dynamic programming approach and adopt backward induction to analyze two retailers’ preventive lateral transshipment policy.Findings: The optimal preventivelateral transshipment policy is a threshold policy which depends on both theremaining selling periods and inventory level. The above properties ensure thattwo retailers can control inventory with preventive lateral transshipment.Practical implications: The retailer can adjust inventory via the thresholdtype policy. The simple decisionrule which compares on-hand inventory level with the critical inventory level can be used to control inventory by preventive lateral transshipment.Originality/value: A discrete-timedecision-making model of preventive lateral transshipment policy isformulated. This model takes consideration of multi selling periods, whichis different from most existing researches on preventive lateraltransshipment. 2014/06/21 - 06:07
  • Purpose: Lithium-ion batteries that are commonly used in electric vehicles and plug-in electric hybrid vehicles cannot be simply discarded at the end of vehicle application due to the materials of which they are composed. In addition the US Department of Energy has estimated that the cost per kWh of new lithium-ion batteries for vehicle applications is four times too high, creating an economic barrier to the widespread commercialization of plug-in electric vehicles. (USDOE 2014). Thus, reducing this cost by extending the application life of these batteries appears to be necessary. Even with an extension of application life, all batteries will eventually fail to hold a charge and thus become unusable. Thus environmentally safe disposition must be accomplished. Addressing these cost and environmental issues can be accomplished by remanufacturing end of vehicle life lithium ion batteries for return to vehicle applications as well as repurposing them for stationary applications such as energy storage systems supporting the electric grid. In addition, environmental safe, “green” disposal processes are required that include disassembly of batteries into component materials for recycling. The hypotheses that end of vehicle application remanufacturing, repurposing, and recycling are each economic are examined. This assessment includes a forecast of the number of such batteries to ensure sufficient volume for conducting these activities.Design/methodology/approach: The hypotheses that end of vehicle application remanufacturing, repurposing, and recycling are economic are addressed using cost-benefit analysis applied independently to each. Uncertainty is associated with all future costs and benefits. Data from a variety of sources are combined and reasonable assumptions are made. The robustness of the results is confirmed by sensitivity analysis regarding each key parameter. Determining that a sufficient volume of end of vehicle application lithium-ion batteries will exist to support remanufacturing, repurposing, and recycling involves estimating a lower bound for the number of such batteries. Based on a variety of forecasts for electric vehicle and plug-in hybrid electric vehicle production, a distribution of life for use in a vehicle, and the percent recoverable for further use, three projections of the number of end of vehicle applications batteries for the time period 2010 to 2050 are developed. The lower bound is then the minimum of these three forecasts. Multiple forecasts based on multiple sources of information are used to help reduce uncertainty associated with finding the lower bound, which is particularly important given the short time such vehicles have been in use.Findings: The number of lithium-ion batteries becoming available annually for remanufacturing, recycling and repurposing is likely to exceed 3,000,000 between 2029 and 2032 as well as reaching 50% of new vehicle demand between 2020 and 2033. Thus, a sufficient number of batteries will be available. Cost benefit analysis shows that remanufacturing is economically feasible, saving approximately 40% over new battery use. Repurposing is likewise economically feasible if research and development costs for new applications are less than $82.65 per kWh for upper bound sales price of $150.00 per kWh. For a lower bound in R&D expenses of $50 per kWh, the lowest economic sales price is $114.05 per kWh. Recycling becomes economically feasible only if the price of lithium salts increases to $98.60 per kg due to a shortage of new lithium, which is possible but perhaps not likely, with increasing demand for lithium-ion batteries.Research limitations/implications: The demand for lithium-ion batteries for vehicle applications through 2050 has a high degree of uncertainty. Repurposing applications are currently not fully developed and recycling processes are still evolving. There is a high degree of uncertainty associated with the cost-benefit analysis.Practical implications: Lithium-ion batteries are a major cost component of an electric vehicle and a plug-in electric hybrid vehicle. One way of reducing this cost is to develop additional uses for such batteries at the end of vehicle application as well as an environmentally friendly method for recycling battery components as an alternative to destruction and disposal.Social implications: The use of lithium-ion batteries in vehicles as opposed to fossil fuels is consistent with the guiding principles of sustainability in helping to meet current needs without compromising the needs and resources of future generations. Reusing entire lithium-ion batteries or recycling the materials of which they are composed further reinforces the sustainability of the use of lithium-ion batteries.Originality/value: The results show that a sufficient number of batteries to support remanufacturing, repurposing, and recycling will be available. Remanufacturing is shown to be economically feasible. Repurposing is shown to be feasible under reasonable conditions on design and development. Recycling will likely not be economically feasible in isolation but will eventually be necessary for all batteries. Thus, the costs of recycling must be assigned to original vehicle use, remanufacturing and repurposing applications Furthermore, this effort integrates information from a wide variety of sources to show the economic feasibility of end of vehicle application uses for lithium-ion batteries. 2014/06/21 - 06:07
  • Purpose: At present, the Central Government of China pays more attention to the synergistic innovation, and the national strategy policy of “innovation driven development” are made to implementations. Thus, the university plays an important role in the national innovation system, so that how the university gets involved in innovative activities becomes the primary problem of innovation strategy. This paper utilizes Chinese university spin-offs survey data to identify the influence process from institutional innovation and organizational learning to synergistic effect of organization. Design/methodology/approach: Firstly, we found that following the procedural view, each one of these three elements can be divided into two parts. Then, we established structural equation modeling with the connections between these six subdivisions. Secondly, by taking 270 university Spin-offs in China as samples, we verified the fit of the model through statistical data on the questionnaire survey. Thirdly, we analyzed the relationship and influence path of the institutional innovation, organizational learning and synergistic effect. Findings: The results of empirical research show that institutional implementation process is positive correlation on both sides of synergistic effect, and, the intermediary role is obvious that external organizational learning played a regulatory role between institutional innovation synergistic effects. Research limitations/implications: A large-scale questionnaire survey showed that the influence path of “institutions -organization-innovation performance" are existed. Therefore, the system analysis framework should be introduced to the emergence and development of University spin-offs, and further explored the synergistic process of institutional change and organizational evolution. Practical implications: University spin-offs are a mode of university - industry cooperation, and it takes participation in market competition also as enterprise. This result of study pointed that. “Institutions” and “organizations” are the two important factors in synergistic innovation, so the synergy mechanism design should be followed by the interaction relationship between these two above. Originality/value: Synergistic innovation is the guidance theory which leads the development trend of university-industrial cooperation in China. In this paper, the "institution" and "organization", as the two primary elements, are introduced to analyze the process of synergistic innovation. Then, the authors discussed the role of the "institutional innovation" and "organizational learning" in the process of synergistic innovation, aimed at study on the operational mechanism of the influence factors. 2014/06/19 - 16:48
  • Purpose: Build a multi-objective Flexible Job-shop Scheduling Problem(FJSP) optimization model, in which the makespan, processing cost, energy consumption and cost-weighted processing quality are considered, then Design a Modified Non-dominated Sorting Genetic Algorithm (NSGA-II) based on blood variation for above scheduling model.Design/methodology/approach: A multi-objective optimization theory based on Pareto optimal method is used in carrying out the optimization model. NSGA-II is used to solve the model.Findings: By analyzing the research status and insufficiency of multi-objective FJSP, Find that the difference in scheduling will also have an effect on energy consumption in machining process and environmental emissions. Therefore, job-shop scheduling requires not only guaranteeing the processing quality, time and cost, but also optimizing operation plan of machines and minimizing energy consumption.Originality/value: A multi-objective FJSP optimization model is put forward, in which the makespan, processing cost, energy consumption and cost-weighted processing quality are considered. According to above model, Blood-Variation-based NSGA-II (BVNSGA-II) is designed. In which, the chromosome mutation rate is determined after calculating the blood relationship between two cross chromosomes, crossover and mutation strategy of NSGA-II is optimized and the prematurity of population is overcome. Finally, the performance of the proposed model and algorithm is evaluated through a case study, and the results proved the efficiency and feasibility of the proposed model and algorithm. 2014/06/12 - 19:44
  • Purpose: There are many kinds of methods to evaluate the inventory management and economic performance of small and medium enterprises, but they still have some distinct shortcomings. In order to achieve a better evaluation result, we put forward a new model based on the evidences from developing country like India.Approach: This survey study, mainly based on the evidences from machine tool SMEs in India uses statistical methods to avoid the drawbacks of qualitative techniques.Findings: Through empirical data, it is established that ‘technology’ is not the only concern, but other factors related to human resource, economic, organizational and behavioral aspects of SMEs are also vital in improving their IM performance.Originality: This study combines the role of factors such as managerial, technological, economical and contingency together for the first time in the context of SMEs. 2014/06/12 - 19:44
  • The aim of this study was to construct the structure of trust-building perceived by principals in Portuguese public schools. A grounded theory approach applied to a survey of open questions obtained lead to the following conclusions: (1) self-trust is the single trait common to all respondents; (2) compassion is a striking antecedent in the process of other-trust; compassionateness and assertiveness must combine with one another to achieve leadership based on smart trust, that is outlined in a matrix model built from the data. This dyadic model reflects a psychological state based on the belief that others do not take advantage of us, showing that trust is an essential element in positive human relations and becomes a strategic issue. Theoretical and practical implications from this study are discussed in the end. 2014/06/12 - 19:44
  • It has been found in the empirical study with VAR model and HP filter decomposition model on the yen exchange rate and the international crude oil price fluctuation during 45 days around Japan’s earthquake that: the fluctuation of yen exchange rate around the earthquake is one of the main reasons for the drastic fluctuation of international crude oil price in that period. The fluctuation of international crude oil price directly triggered by yen exchange rate occupies 13.54% of its total variance. There is a long-term interactive relationship between yen exchange rate and international crude oil price. The upward trend of international crude oil price after the earthquake was obvious, while yen exchange rate remained relatively stable after the earthquake. 2014/05/23 - 04:01
  • Purpose: More and more executives of automobileindustry in China start to recognize the concept of green competitiveness recently. However, relatively less research?attention has beendevoted to the consideration of measurement. This paper aims to find empirical approach to quantify greencompetitiveness for automotive enterprises. The connotation of green competitiveness isexplored and one suite of evaluation index system has beenproposed with four dimensionsincluding environmental, resource, capability and knowledge. Design/methodology/approach: By introducing the factor analysis method, greencompetitiveness has been measured through an empirical analysis of 24automotive enterprises within China. Findings: The results indicate that those elements, such asenterprise resource possession and utilization; environment, responsibility andknowledge; profitability; management efficiency, have significant effect on thegreen competitiveness for automotive enterprises. The further analysis alsounveils the advantages and disadvantages of green competitiveness for eachcompany and the direction for improvement.Research limitations/implications: Guide regulators and managers of automobile industry to takesome measures to enhance their green competitive advantage. Practical implications:Provide practical methods to measure greencompetitiveness for automotive enterprises.  Originality/value: This paper proposes an evaluation index system of greencompetitiveness for automotive enterprises. The suggestions of our researchwill be beneficial to enterprise executives and industry regulators.Keywords: automotive enterprises; green competitiveness; competitiveness evaluation 2014/05/23 - 04:01
  • Purpose: This paper is committed to design a logistics industry development policy model based on system dynamic to simulate the policy measures which promote region economic and logistics efficiency. The interaction between logistic industry development policy and economy needs to be investigated and the influence degree of logistic efficiency affected by industry policy needs to be identified too. Design/methodology/approach: In order to achieve the objective, it makes a system analysis from industry perspective to divide system into economic growth subsystem, logistics demand subsystem and logistics supply subsystem. Then the hypothesis and the boundaries are defined, and the causal diagram and system flow diagrams are drawn. The paper designs parameters and structural equation by the sample of Beijing using the econometrics model and takes model validation. Taking Beijing as an example, logistics industry development policy is simulated from the aspect of technological progress, increasing fixed assets investment, adjusting the industrial structure proportion and comprehensive policy by changing the parameters using Vensim-PLE. Findings?After logistics development policy is highly simulated by system dynamic model of logistics industry development policy, it is found that the policies of technological progress, fixed assets investment increasing, the industrial structure proportion adjustment and the comprehensive policy have different function to affect GDP, logistics demand, supply capacity and actual logistics costs. Originality/value: Compared with the previous research, this paper analyzes the interactive mechanism between logistics industry policy and region economy from a system perspective and establishes system dynamics model of logistics industry development policy to make up for the limitation of previous research. 2014/05/23 - 04:01
  • Purpose: The objective of this research is to reform the current real estate tax system and establish the real estate tax system suitable for China’s national conditions.Design/methodology: Based on the necessity of the real estate tax reform, the paper studies the system optimization and its effects analysis of the real estate tax. At last, the paper uses the system dynamics to demonstrate the feasibility of the real estate tax from an empirical point.Findings: With the system dynamics, we can establish the causal relationship of the influence factors and forecast the impact on the future real estate prices. It can also provide some suggestions for China’s real estate tax reform.Research limitations/implications: The establishment of the model might not be very mature, so we need the further study and improvement.Originality/value: This study was the first to use system dynamics to analyze the impact of real estate taxes on real estate prices, and we hope to provide some suggestions for China’s real estate tax reform. 2014/05/21 - 06:20
  • Purpose: Even without economic factors and government regulations, the pressure and motivation of corporation to reduce emission are still increasing. This is because the key factors for corporation to reduce emissions have become corporate social responsibility and identification of low-carbon value by consumer and society from economic trade-off and government regulations. So, the purpose of this paper is to provide quantity methods for the logistics organizations with wish of voluntary reduction and social responsibility.Design/methodology/approach: Being difference from the traditional research that takes economic value as object, this paper takes carbon footprint as object directly, order quantity as decision variable. By referring to the traditional economic order quantity model, the paper creates logistics carbon footprint model which takes transport and inventory into account. Then it solves the model by calculating the values of order quantity, carbon footprint and revenue using the method of optimization.Findings and Originality/value: By solving and comparing the two models of economic order quantity model and carbon footprint model, it gets some results, such as carbon optimization order quantity, the effects order quantity deviating from economic order quantity or carbon order quantity having on economic or carbon footprint values, which can give some meaningful insight for corporation to search out reduction opportunities by operations adjustment.Originality/value: The study takes carbon footprint as object directly and creates the corresponding quantity model. By comparing with the traditional economic order quantity model, the paper provides quantity methods and obtains some meaningful insights for the logistics organizations with wish of voluntary reduction and social responsibility to reduce emissions by operations adjustment. 2014/05/14 - 18:57
  • Purpose: The Chinese government takes measures to promote the development of green building (GB). But until 2013, there are only few green buildings in China. The real estate developers are skeptical in entering GB market, which requires theories to explain developers and government’s behaviors.Design/methodology/approach: In this study, we attempt Evolutionary game theory and System dynamics (SD) into the analysis. A system dynamics model is built for studying evolutionary games between the government and developers in greening building decision making.Findings and Originality/value: The results of mixed-strategy stability analysis and SD simulation show that evolutionary equilibrium does not exist with a static government incentive. Therefore, a dynamical incentive is suggested in the SD model for promoting the green building market. The symmetric game and asymmetric game between two developers show, if the primary proportion who choose GB strategy is lower, all the group in game may finally evolve to GB strategy. In this case and in this time, the government should take measures to encourage developers to enter into the GB market. If the proportion who choose GB strategy is high enough, the government should gradually cancel or reduce those incentive measure.Research limitations/implications: an Evolution Analysis and System Dynamics Simulation on Behaviors of Real Estate Developers and Government could give some advice for the government to promote the green building market. 2014/05/14 - 18:57
  • Purpose: This paper aims to study the remarkable effect of dividends catering in Chinese stock market, and its significance on dividend policy and investment decisions. Is there a significant difference in operation status of companies between issuing cash dividend and those without cash dividend, and which one is the better? Is there a significant difference in income level of stocks between issuing cash dividend and those without cash dividend, which one is the higher? Is the irrational preference of cash dividend detracting along with the development and improvement of securities market? All issues above need the market inspection.Design/methodology/approach: Based on related dividend theories and the empirical data of Chinese securities market, we construct three portfolios including stock dividend, cash dividend and non-dividend. The paper studies the returns from these three kinds of portfolios which is analyzed by the least significant difference method, co-integration model, Sharpe index model, and error correction model, and then finally comes to the conclusions.Findings: The main finding is that there is significant effect of dividends catering in Chinese stock market; the income level of cash dividend portfolio is significantly lower than that of other portfolios; the listed companies issuing stock dividend have a high investment value.Originality/value: Through collecting a lot of data from the year 2004 to 2009 and developing models to analyze, the paper deem that whether the earnings growth or not determines the dividend policy of listed companies, and that stock dividend is the natural choice for those listed companies which have sustainable development advantages. 2014/05/14 - 18:57
  • Purpose: This paper focuses on a classic optimization problem in operations research, the flexible job shop scheduling problem (FJSP), to discuss the method to deal with uncertainty in a manufacturing system.Design/methodology/approach: In this paper, condition based maintenance (CBM), a kind of preventive maintenance, is suggested to reduce unavailability of machines. Different to the simultaneous scheduling algorithm (SSA) used in the previous article (Neale & Cameron,1979), an inserting algorithm (IA) is applied, in which firstly a pre-schedule is obtained through heuristic algorithm and then maintenance tasks are inserted into the pre-schedule scheme.Findings: It is encouraging that a new better solution for an instance in benchmark of FJSP is obtained in this research. Moreover, factually SSA used in literature for solving normal FJSPPM (FJSP with PM) is not suitable for the dynamic FJSPPM. Through application in the benchmark of normal FJSPPM, it is found that although IA obtains inferior results compared to SSA used in literature, it performs much better in executing speed.Originality/value: Different to traditional scheduling of FJSP, uncertainty of machines is taken into account, which increases the complexity of the problem. An inserting algorithm (IA) is proposed to solve the dynamic scheduling problem. It is stated that the quality of the final result depends much on the quality of the pre-schedule obtained during the procedure of solving a normal FJSP. In order to find the best solution of FJSP, a comparative study of three heuristics is carried out, the integrated GA, ACO and ABC. In the comparative study, we find that GA performs best in the three heuristic algorithms. Meanwhile, a new better solution for an instance in benchmark of FJSP is obtained in this research. 2014/05/14 - 18:57
  • Purpose: Putting forward policy proposes to improve the tax policy of the logistics industry.Design/methodology/approach: Based on Cobb-Douglas production function model, combined theoretical analysis, this paper puts forward Cobb-Douglas production function expansion model, and using the function estimates the optimal tax burden level of China's logistics industry.Findings: The result of empirical analysis on the state-owned companies and the listed companies of transportation and storage industry show that, the actual tax burden of China's logistics industry is higher than the optimal taxation. This implies that tax problem has restricted the normal operation of the logistics industry in China.Research limitations/implications: Affected by lack of Chinese logistics industry statistics, we only estimate the optimal taxation of state-owned logistics enterprises and listed companies of logistics. But, the two samples are the main force of the logistics industry in China, and the optimal tax calculation result is close, so we can believe that the calculation results are representative.Originality/value: At present, the study of the tax burden on China's logistics industry is almost blank. This research estimates the optimal tax burden level of China's logistics industry, and puts forward recommendations to improve the tax policy of the logistics industry. 2014/05/09 - 14:32
  • Purpose: There are many kinds of methods to evaluate the performance of enterprise, but they still have some distinct shortcomings. In order to achieve a better evaluation result, we put forward a new model named FLI-GA (Fuzzy logic inference & Genetic algorithm). Approach: This model, mainly based on the fuzzy logic inference method, uses fuzzy rule-based system (FRBS) to avoid the drawbacks of FRBS. Genetic algorithm is applied in this model. Findings: FLI-GA model can be used to evaluate certain enterprise performance, and its evaluation results are more accurate than fuzzy logic inference method. Originality: This model combines the genetic algorithm with the unclear reasoning methods so as to make the appraisal results more reasonable and more satisfying. 2014/05/06 - 21:44
  • Purpose: According to the disorder in circulation commuting and crossover commuting of SF company which is the China’s largest private express delivery service provider, the study uses the Saving Algorithm to make the vehicle routing and resources optimized, on this basis, proposes innovative improvements with Saving Algorithm and then applies it in every distribution center of SF forming a "multi-dynamic" type of Saving Algorithm to ensure both cost savings and timeliness. This method can be generalized for all express company to get the vehicle routing optimized.Design/methodology/approach: As the special transportation requirements of express companies, this study optimizes the vehicle route based on Saving Algorithm, uses multiple-dynamic Saving Algorithm, and considers the timeliness requirements of the express company to achieve a balance of cost and timeliness.Findings: The main finding is that a new method proposed which there can be a balance improvement for both cost and timeliness to optimize the vehicle route of express company. Calculation example validates the effectiveness of the model established and solving method.Practical implications: It is a widespread practice that by setting up model and parameters for the objectives, express company can maintain the balances between cost and timeliness and achieve the optimized vehicle route.Originality/value: It proposes innovative improvements, takes SF express company as an example, with Saving Algorithm which can be applied in every distribution center of express company to ensure the balance improvement for both cost and timeliness, and has a great practical significance to the transportation network and path optimization of express companies. 2014/05/06 - 21:44
  • Purpose: Trade in education has become one of the most important trades for many economies. Yet, studies of education as a trade are scant owing to the conventional view of it being non-tradable. The purpose of this paper is to econometrically investigate trade in education using a nexus of international trade theories and the gravity model, one of the most widely used models in international trade in goods that has been scantly investigated on in studies on trade in education.Design/methodology/approach: A panel data analysis is broken down for 21 exporting countries and 50 importing countries, covering 1050 observations using new UNESCO database. A number of determinants of international trade including wealth of exporter & importer, domestic capacity of exporter & importer, transport costs, common religion, common language and trade restrictiveness of the importer are empirically tested on bilateral trade flows in education. An econometric model is formulated to test determinants of trade in education using an augmented gravity model.Findings: The augmented gravity model used in this study explains with high significance the determinants of trade in education including wealth of exporter & importer, domestic capacity of exporter & importer, transport costs, common religion, common language and trade restrictiveness of the importer.Research limitations/implications: Taking a macroscopic view of education as a trade may give us a myopic view of the elements important to determine what students or parents of students as well as institutions are concerned with. Nevertheless, the nexus of international trade theories and the gravity model used in this study that are largely and traditionally used on trade in goods and services, but scantly used in trade in education have been found to be highly significant and relevant in trade in education. Future studies on macro-level of analysis involving trade in education could include other determinants of trade in education or trade in goods/services to test for their relevance and significance in this area of study.Practical implications: This paper aims to contribute to existing literature on trade in services and trade in education by borrowing some of the same assumptions on market structures usually made for services and international trade to show that the international trade theories can help explain the pattern of trade in education. The econometric model formulated enables governments to design policies that could facilitate, direct and promote the development and growth of education as a trade. It could also assist institutions to adjust and choose more efficient methods of structuring their policies and formulating their marketing strategies, targeted towards different country segments.Social implications: With the share of education services in world trade increasing, it becomes even more important to be able to accurately model trade in education services. Thus, my introduction of the augmented gravity model on trade in education provides new and interesting avenues for further macro research of trade in education on an international platform.Originality/value: I borrow the same assumptions on market structures usually made for services to show that international trade theories can help explain the pattern of trade in education. This paper proposes an effective econometric model using the gravity equation to help governments as well as institutions evaluate the importance of the various determinants of trade in education. 2014/05/06 - 21:44
  • Purpose: The purpose of this paper is to propose a mathematical model for the prediction of railway freight volume, and therefore provide railway freight resource allocation with an accurate direction. With an accurate railway freight volume prediction, railway freight enterprises can integrate the limited resources and organize transport more reasonably. Design/methodology/approach: In this paper, a PSO-GRNN model is proposed to predict the railway freight volume. In this model, GRNN is applied to carry out the nonlinear regression analysis and output the prediction value, PSO algorithm is applied to optimize the GRNN model by searching the best smoothing parameter. In order to improve the performance of PSO algorithm, time linear decreasing inertia weight algorithm and time varying acceleration coefficient algorithm are applied in the paper. Originality/value: A railway freight volume prediction index system containing seventeen indexes from five aspects is established in this paper. And PSO-GRNN model constructed in this paper are applied to predict the railway freight volume from 2007 to 2011. Finally, an empirical study is given to verify the feasibility and accuracy of the PSO-GRNN model by comparing with RBFNN model and BPNN model. The result shows that PSO-GRNN model has a good performance in reducing the prediction error, and can be applied in actual production easily. 2014/05/06 - 21:44
  • Purpose: This study explores the effective regulation of institutional investor's encroachment behavior in stock market. Given the theoretical and practical importance, the present study examines the effect of the self-adaptive regulation strategy (adjusting the regulation factors such as punishment and the probability of investigating successfully in time) for the sake of the small & medium-sized investor protection.Design/methodology/approach: This study was carried out through game theory and agent-based modeling simulation. Firstly, a dynamic game model was built to search the core factors of regulation and the equilibrium paths. Secondly, an agent-based modeling simulation model was built in Swarm to extend the game model. Finally, a simulation experiment (using virtual parameter values) was performed to examine the effect of regulation strategy obtained form game model.Findings: The results of this study showed that the core factors of avoiding the institutional investor's encroachment behavior are the punishment and the probability of investigating successfully of the regulator. The core factors embody as the self-adaptability and the capability of regulator. If the regulator can adjust the regulation factors in time, the illegal behaviors will be avoided effectively.Research limitations/implications: The simulation experiment in this paper was performed with virtual parameter values. Although the results of experiment showed the effect of self-adaptive regulation, there are still some differences between simulation experiment and real market situation.Originality/value: The purpose of this study is to investigate an effective regulation strategy of institutional investor's encroachment behavior in stock market in order to maintain market order and protect the benefits of investors. Base on the game model and simulation model, a simulation experiment was preformed and the result showed that the self-adaptive regulation would be effective. This study applied game theory and agent-based modeling simulation to the research of financial regulation, and extended the application field of these two methods. 2014/05/06 - 21:44
  • Purpose: Alliance between manufacturing and logistics industry is a new model of the joint development of the two industries. A reasonable profit allocation mechanism is the key to ensure the stable operation of the alliance, as well as to achieve the desired objectives. Based on uncertainty of alliance expected return as well as the inherent features of the alliance, this research establishes an improved model of profit allocation in manufacturing and logistics industry alliance.Design/methodology/approach: This article studies how to introduce comprehensive correction factors to improve interval Shapley value method, which is based on the fact that had been proved by exiting studies. In this study, interval Shapley value method is first applied to calculate the initial allocation of fuzzy cooperative games. Next AHP-GEM method and fuzzy comprehensive evaluation method are incorporated. Based on those results, an improved model of profit allocation is established. After that, a case study is demonstrated the practicality and feasibility of the improved model.Findings: Profit allocation is a complex issue in fuzzy cooperative games. There’re impacts from partner risk sharing, collaborative effort market competition, innovative contribution as well as resource investment. All these factors should be involved in the profit allocation, and different factors have different weight in importance.Practical implications: The new model established in the paper is more scientific and reasonable, and more in line with the actual situation. This method also provides good incentives to each enterprise to ensure the healthy and stable development of the alliance.Originality/value: Based on alliance characteristics, this paper establishes an indicator system and a new model for profit allocation in manufacturing and logistics industry alliance, using AHP-GEM method. 2014/05/06 - 21:44
  • Purpose: According to the Job Demands-Resources (JDR) model, engagement and job satisfaction may be produce by two types of working conditions: job demands (i.e. role stress) and job resources (i.e. self-efficacy). This study examines the role of role stress and work engagement as antecedents of job satisfaction in a sample of Spanish workers. Design/methodology/approach: This study comprised a sample of 435 Spanish workers. A cross sectional study was used to examine the relationship between role stress, work engagement and job satisfaction. Data were gathered based on personal administered questionnaires. Findings and Originality/value: Hierarchical multiple regression models have revealed that job satisfaction was significantly predicted by role stress and work engagement. Results support JDR model by showing that positive outcomes, such as job satisfaction can be predicted by motivational process and job demands. Research limitations/implications: The cross-sectional design cannot evidence of causal relationships. This study relies on self-reports, which might increase the risk of common method variance. Practical implications: On a practical level, the JDR model provides a framework for understanding motivating workplaces and engaged and satisfied employees. Originality/value: The JDR model could be useful in designing strategies for which engaged employees may be advantageous to improving the quality of services, while at the same time increasing employees’ job satisfaction and well-being. 2014/04/08 - 14:32
  • Purpose: At the dynamic innovation market, it is very difficult for an enterprise to accomplish innovation individually; technology innovation is shifting towards collaborative R&D chain mode. Thus, supplier selection based on individually innovation efficiency of enterprise is inapplicable to construct collaborative R&D innovation chain. This study is seeking to address how to select R&D innovation chain supplier in manufacturing industry. Design/methodology/approach: Firstly, Delphi method and AHP method are applied to establish an index system evaluating the suppliers of innovation chain, and then each index is weighted by experts with AHP method. Thirdly, optimized PSO algorithm is put forwarded based on the optimal efficiency of innovation chain to discriminate ideal suppliers meeting realistic conditions. Fourthly, innovation chain construction at generator manufacturing industry was taken as empirical case study to testify the improved PSO model. Findings: The innovation chain is comprised up by several enterprises, innovation performance of a single enterprise is not always positively correlated to that of one innovation chain, and the proposed model is capable to find out the best combination to construct an innovation chain. Research limitations/implications: The relations between these constructs with other variables of interest to the academicals fields were analyzed by a precise and credible data with a clear and concise description of the supply chain integration measurement scales. Practical implications: providing scales that are valid as a diagnostic tool for best practices, as well as providing a benchmark with which to compare the score for each individual plant against a chain of industrial innovation from machinery. Originality/value: Innovation chain integration is an important factor in explaining the innovation performance of companies. The vast range of results obtained is due to the fact that there is no exactness to the group of scales used. An analysis of the measurement models nor clear benchmarks as to the variety of the scales used has not been published before. 2014/04/05 - 04:23
  • Purpose: Along with mutual funds’ scale and quantity expanding for our country, it is common for fund management companies hiring new managers or the original fund managers mobilizing from one to another. The high liquidity of fund managers makes different managers regroup to manage the funds that belong to the same fund management company in each fund year. The characteristics of these different management team will influence the fund performance, and also affect the earnings of the fund management company and portfolio investors. The purpose of this paper is as follows. First, evaluating the effect of management team characteristics on portfolio characteristics: risk, performance, and extremity. Second, testing the hypothesis that the ranking of mid-year performance have effect on investment style extremity and research what relationship exists between this phenomenon and management team characteristics in depth.Design/methodology/approach: On the analysis of the relationships between the management team characteristics and portfolio characteristics, a series of OLS regressions is run where the time series regression model (the factor model) and cross-sectional regression are included based on using the STATA, EVIEWS and MATLAB. The validity and practicability of the model will be verified in the paper. All of the above are aimed at achieving portfolio optimization and realizing the maximization of the interests of fund management companies and investors.Findings: The main findings are as follows. Teams with more doctors or MBA (CPA and CFA) hold more risky portfolios, while teams with long team tenure hold less. More members and large gender diversity have negative effect on performance, and the opposite is age diversity. Teams with more members and long tenure tend to hold less extreme style decisions, but age diversity is related to more. Besides, tournament hypothesis does exist in China investment funds industry especially when the economy is in a downward phase, and fund managers are more likely to raise the risk of portfolio when their term is coming to an end. Practical implications: These findings have important implications for fund management companies as they try to form a highly efficient management team as well as for individual investors’ investment allocation decisions. Originality/value: This paper propose a new perspective to evaluate the relationship between the management team characteristics and portfolio characteristics, which focus on both sides investors rather than a single fund. 2014/04/05 - 04:23
  • Purpose: The aim of this paper is to provide methods to find the emission source and estimate the amount of waste gas emissions in the electricity coal supply chain, establish the model of the environmental impact (burden) in the electricity coal supply chain, detect the critical factor which causes significant environmental impact, and then identify the key control direction and reduce amount of environmental pollution in the electricity coal supply chain. Design/methodology/approach: In this context, life cycle inventory and life cycle assessment of China’s electricity coal were established in three difference stages: coal mining, coal transportation, and coal burning. Then the outcomes were analyzed with the aim to reduce waste gases emissions’ environmental impact in the electricity coal supply chain from the perspective of sensitivity analysis. Findings: The results and conclusion are as follow: (1) In terms of total waste gas emissions in electricity coal supply chain, CO2 is emitted in the greatest quantity, accounting for 98-99 wt% of the total waste gas emissions. The vast majority of the CO2, greater than 93%, is emitted from the power plant when the coal is combusted. (2) Other than CO2, the main waste gas is CH4, SO2 and so on. CH4 is mainly emitted from Coal Bed Methane (CBM), so the option is to consider capturing some of the CH4 from underground mines for an alternative use. SO2 is mainly emitted from power plant when the coal is combusted. (3) The environmental burden of coal burning subsystem is greatest, followed by the coal mining subsystem, and finally the coal transportation subsystem. Improving the coal-burning efficiency of coal-fired power plant in electricity coal supply chain is the most effective way to reduce the environmental impact of waste gas emissions. (4) Of the three subsystems examined (coal mining, coal transportation, and coal burning), transportation requires the fewest resources and has the lowest waste gas emissions. However, the energy consumption for this subsystem is significant (excluding the mine mouth case), and transportation distance is found to have a substantial effect on the oil consumption and non-coal energy consumption. (5) In electricity coal supply chain, the biggest environmental impact of waste gas emissions is GWP, followed by EP, AP, POCP and ODP, and regional impact is greater than the global impact. Practical implications: The model and methodology established in this paper could be used for environmental impact assessment of waste gas emissions in electricity coal supply chain and sensitivity analysis in China, and it could supply reference and example for similar researches. The data information on life cycle inventory, impact assessment and sensitivity analysis could supply theory and data reference for waste gas emissions control in electricity coal supply chain. Originality/value: To the best of our knowledge, this is the first time to study the environmental influence of electricity coal supply chain by employing a LCA approach from life cycle of electricity coal. 2014/04/05 - 04:23
  • Purpose: The main goal is to understand the way many factors affect the investment decision making process and business performance. Design/methodology/approach: This study proposes a new conceptual framework for examining the reasons that manufacturing firms decide to invest on the acquisition of new machinery and equipment in order to improve their infrastructure. It incorporates various factors related to the internal business environment (quality management, investment decisions etc.) Findings and Originality/value: A new conceptual framework, establishing the relations between many factors, has been developed, allowing the determinants of adoption of many implications to be discussed and to relate them to the peculiarities of the Greek manufacturing industry. Originality/value: This study presents an overview of the impact of machinery and equipment investment on firm’s performance, giving grasp for further research of the inter-organizational relationships that exist between them. 2014/04/05 - 04:23
  • Purpose:Human Development Index (HDI) reported annually by the United Nations Development Program (UNDP) is apopular measure of human well-being. The purposeof this study is to propose a Multiple Criteria Decision Making (MCDM) technique named Modified Similarity technique for ranking countries based on multi criteria HDI. Design/methodology/approach:In Human Development Reports (HDRs), the HDI for each country isfirst calculated from the average of the health, education and income dimension indices with equally allocatedweight. Then the countries are ranked based on this index. Regarding the criticisms the method ofcalculating the HDI has received, this study usesModified Similarity Multi Criteria Decision Making methodfor ranking countries based on multi criteriaHDI, as an alternative method to the average method, which is being used in annually reported HDRs. Findings: We used the four HD indices mentioned in the 2010 and 2011 HDRs to rank 187 countries which have been investigated in the 2011 HDR. The results of ranking countries by the Modified Similarity technique were somewhat different from the 2011 HDR ranking. Originality/value:Some of the HDI criticisms are related to the method of calculating the index in the form of computing theaverage of the three health, education and income dimension indices with equally allocated weight. in an attempt to eliminatesome of the weaknesses associated with the index, this study uses Similarity technique, as an alternative to the average method of ranking countries in terms of humandevelopment. In addition due to some discrepancies associated with the Similarity technique introduced by Deng (2007), a Modified Similarity technique is discussed. 2014/03/28 - 18:26