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Article
Publication date: 17 September 2024

Mohammad Yaghtin and Youness Javid

The purpose of this research is to address the complex multiobjective unrelated parallel machine scheduling problem with real-world constraints, including sequence-dependent setup…

Abstract

Purpose

The purpose of this research is to address the complex multiobjective unrelated parallel machine scheduling problem with real-world constraints, including sequence-dependent setup times and periodic machine maintenance. The primary goal is to minimize total tardiness, earliness and total completion times simultaneously. This study aims to provide effective solution methods, including a Mixed-Integer Programming (MIP) model, an Epsilon-constraint method and the Nondominated Sorting Genetic Algorithm (NSGA-II), to offer valuable insights into solving large-sized instances of this challenging problem.

Design/methodology/approach

This study addresses a multiobjective unrelated parallel machine scheduling problem with sequence-dependent setup times and periodic machine maintenance activities. An MIP model is introduced to formulate the problem, and an Epsilon-constraint method is applied for a solution. To handle the NP-hard nature of the problem for larger instances, an NSGA-II is developed. The research involves the creation of 45 problem instances for computational experiments, which evaluate the performance of the algorithms in terms of proposed measures.

Findings

The research findings demonstrate the effectiveness of the proposed solution approaches for the multiobjective unrelated parallel machine scheduling problem. Computational experiments on 45 generated problem instances reveal that the NSGA-II algorithm outperforms the Epsilon-constraint method, particularly for larger instances. The algorithms successfully minimize total tardiness, earliness and total completion times, showcasing their practical applicability and efficiency in handling real-world scheduling scenarios.

Originality/value

This study contributes original value by addressing a complex multiobjective unrelated parallel machine scheduling problem with real-world constraints, including sequence-dependent setup times and periodic machine maintenance activities. The introduction of an MIP model, the application of the Epsilon-constraint method and the development of the NSGA-II algorithm offer innovative approaches to solving this NP-hard problem. The research provides valuable insights into efficient scheduling methods applicable in various industries, enhancing decision-making processes and operational efficiency.

Details

Journal of Modelling in Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-5664

Keywords

Article
Publication date: 13 September 2024

Hongjun Zeng

We examined the dynamic volatility connectedness and diversification strategies among US real estate investment trusts (REITs) and green finance indices.

Abstract

Purpose

We examined the dynamic volatility connectedness and diversification strategies among US real estate investment trusts (REITs) and green finance indices.

Design/methodology/approach

The DCC-GARCH dynamic connectedness framework and he DCC-GARCH t-copula model were employed in this study.

Findings

Using daily data from 2,206 observations spanning from 2 January 2015 to 31 January 2023 this paper presents the following findings: (1) cross-market spillovers exhibited a high correlation and significant fluctuations, particularly during extreme events; (2) our analysis confirmed that REIT acted as net receivers from other green indices, with the S&P North America Large-MidCap Carbon Efficient Index dominating the in-network volatility spillover; (3) this observation suggests asymmetric spillovers between the two markets and (4) a portfolio analysis was conducted using the DCC-GARCH t-copula framework to estimate hedging ratios and portfolio weights for these indices. When REIT and the Dow Jones US Select ESG REIT Index were simultaneously added to a risk-hedged portfolio, our findings indicated that no risk-hedging effect could be achieved. Moreover, the cost and performance of hedging green assets using REIT were found to be comparable.

Originality/value

We first examined the dynamic volatility connectedness and diversification strategies among US REITs and green finance indices. The outcomes of this study carry practical implications for market participants.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 17 September 2024

Emmanuel Joel Aikins Abakah, Nader Trabelsi, Aviral Kumar Tiwari and Samia Nasreen

This study aims to provide empirical evidence on the return and volatility spillover structures between Bitcoin, Fintech stocks and Asian-Pacific equity markets over time and…

Abstract

Purpose

This study aims to provide empirical evidence on the return and volatility spillover structures between Bitcoin, Fintech stocks and Asian-Pacific equity markets over time and during different market conditions, and their implications for portfolio management.

Design/methodology/approach

We use Time-varying parameter vector autoregressive and quantile frequency connectedness approach models for the connectedness framework, in conjunction with Diebold and Yilmaz’s connectivity approach. Additionally, we use the minimum connectedness portfolio model to highlight implications for portfolio management.

Findings

Regarding the uncertainty of the whole system, we show a small contribution from Bitcoin and Fintech, with a higher contribution from the four Asian Tigers (Taiwan, Singapore, Hong Kong and Thailand). The quantile and frequency analyses also demonstrate that the link among assets is symmetric, with short-term spillovers having the largest influence. Finally, Bitcoins and Fintech stocks are excellent diversification and hedging instruments for Asian equity investors.

Practical implications

There is an instantaneous, symmetric and dynamic return and volatility spillover between Asian stock markets, Fintech and Bitcoin. This conclusion should be considered by investors and portfolio managers when creating risk diversification strategies, as well as by policymakers when implementing their financial stability policies.

Originality/value

The study’s major contribution is to analyze the volatility spillover between Bitcoin, Fintech and Asian stock markets, which is dynamic, symmetric and immediate.

Details

The Journal of Risk Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1526-5943

Keywords

Article
Publication date: 27 August 2024

Mohamed Toukabri

Companies are increasingly appointing a Chief Sustainability Officer (CSO) to anchor the need to highlight climate change at the senior management level. This study aims to…

Abstract

Purpose

Companies are increasingly appointing a Chief Sustainability Officer (CSO) to anchor the need to highlight climate change at the senior management level. This study aims to examine how CSO power and sustainability-based compensation influence climate reporting and carbon performance.

Design/methodology/approach

Using one of the largest data sets to date, consisting of 18,834 company years through the author’s observations, spanning an 11-year period (2011–2021) in 33 countries. This paper used quantitative methods – specifically, ordinal logistic regression estimation. This paper measures the level of climate change disclosure based on the carbon disclosure leadership methodology. Carbon performance is based on the intensity of carbon emissions (Scope 1, Scope 2), which is a quantitative and relatively more objective measure.

Findings

The results suggest that climate change disclosure continued to increase and the carbon emissions intensity of the companies in this study gradually decreased over the sample period. This paper finds that the presence of the CSO within the top management team has a positive and significant influence on the level of information on climate change of the companies in the sample. This finding confirms the idea that the managerial capacity of CSOs motivates the disclosure of climate change. The empirical results confirm that there are differences in the role that the CSO and sustainability-based compensation play in influencing the quality of climate information disclosure in developed and developing countries.

Originality/value

The recourse on a mixed theoretical framework, which highlights upper echelons theory, argues the understanding of the role of CSOs in explaining the relationship between climate change disclosure–carbon performance relationship. The novelty of the study lies in the approaches adopted to describe the quality of climate change disclosure. To control for endogeneity, this paper uses a difference-in-difference analysis by adding a firm to the Morgan Stanley Capital International index as an exogenous shock.

Details

Society and Business Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-5680

Keywords

Article
Publication date: 22 August 2024

Zhenshuang Wang, Tingyu Hu, Jingkuang Liu, Bo Xia and Nicholas Chileshe

The sensitivity and fragility of the construction industry’s economic system make the economic resilience of the construction industry (ERCI) a key concern for stakeholders and…

Abstract

Purpose

The sensitivity and fragility of the construction industry’s economic system make the economic resilience of the construction industry (ERCI) a key concern for stakeholders and decision-makers. This study aims to measure the ERCI, identify the heterogeneity and spatial differences in ERCI, and provide scientific guidance and improvement paths for the industry. It provides a foundation for the implementation of resilience policies in the construction industry of developing countries in the future.

Design/methodology/approach

The comprehensive index method, Theil index method, standard deviation ellipse method and geographic detector model are used to investigate the spatial differences, spatiotemporal evolution characteristics and the influencing factors of the ERCI from 2005 to 2020 in China.

Findings

The ERCI was “high in the east and low in the west”, and Jiangsu has the highest value with 0.64. The Theil index of ERCI shows a wave downward pattern, with significant spatial heterogeneity. The overall difference in ERCI is mainly caused by regional differences, with the contribution rates being higher by more than 70%. Besides, the difference between different regions is increasing. The ERCI was centered in Henan Province, showing a clustering trend in the “northeast-southwest” direction, with weakened spatial polarization and a shrinking distribution range. The market size, input level of construction industry factors, industrial scale and economic scale are the main factors influencing economic resilience. The interaction between each influencing factor exhibits an enhanced relationship, including non-linear enhancement and dual-factor enhancement, with no weakening or independent relationship.

Practical implications

Exploring the spatial differences and driving factors of the ERCI in China, which can provide crucial insights and references for stakeholders, authorities and decision-makers in similar construction economic growth leading to the economic growth of the national economy context areas and countries.

Originality/value

The construction industry development is the main engine for the national economy growth of most developing countries. This study establishes a comprehensive evaluation index on the resilience measurement and analyzes the spatial effects, regional heterogeneity and driving factors on ERCI in the largest developing country from a dynamic perspective. Moreover, it explores the multi-factor interaction mechanism in the formation process of ERCI, provides a theoretical basis and empirical support for promoting the healthy development of the construction industry economy and optimizes ways to enhance and improve the level of ERCI.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 29 August 2024

Alina Malkova

How do informal lending institutions affect entrepreneurship? This paper aims to investigates the role of formal and informal credit market institutions in the decision to become…

Abstract

Purpose

How do informal lending institutions affect entrepreneurship? This paper aims to investigates the role of formal and informal credit market institutions in the decision to become an entrepreneur over the life cycle.

Design/methodology/approach

The author developed a dynamic Roy model in which a decision to become an entrepreneur depends on the access to formal and informal credit markets, nonpecuniary benefits of entrepreneurship, career-specific entry costs, prior work experience, education, unobserved abilities and other labor market opportunities (salaried employment and nonemployment). Using detailed Russian panel microdata (the Russia longitudinal monitoring survey) and estimating a structural model of labor market decisions and borrowing options, the author assesses the impact of the development of informal and formal credit institutions.

Findings

The expansion of traditional (formal) credit market institutions positively impacts all workers’ categories, reduces the share of entrepreneurs who borrow from informal sources and incentivizes low-type entrepreneurs to switch to salaried employment. The development of the informal credit market reduces the percentage of high-type entrepreneurs who borrow from formal sources. In the case of default, a higher value of the social network or higher costs of losing social ties demotivate low-type entrepreneurs to borrow from informal sources. The author highlights the practical implications of estimates by evaluating policies designed to promote entrepreneurship, such as subsidies and accessibility regulations in credit market institutions.

Originality/value

This study contributes to the literature in several ways. Unlike other studies that focus on individual characteristics in the selection for self-employment [Humphries (2017), Hincapíe (2020), Gendron-Carrier (2021), Dillon and Stanton (2017)], the paper models labor and borrowing decisions jointly. Previous studies discuss transitions between salaried employment and self-employment, taking into account entrepreneurial earnings, wealth, education and age, but do not consider the availability of financial institutions as a driving factor for the selection into self-employment. To the best of the author’s knowledge, this paper shows for the first time that the transition from salaried employment to self-employment is standard and consistent with changes in access to financial institutions. Another feature of this study is incorporating both types of credit markets – formal and informal. The survey by the European Central Bank on the Access to Finance of Enterprises (2018) shows 18% of small and medium enterprise in EU pointed funds from family or friends. Therefore, the exclusion from consideration of informal credit markets may distort the understanding of the role of the accessibility of credit markets.

Details

Journal of Financial Economic Policy, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1757-6385

Keywords

Article
Publication date: 17 September 2024

Paula de Oliveira Santos, Josivan Leite Alves and Marly Monteiro de Carvalho

This aims to explore the relationship between the agile methods barriers in large-scale contexts and the benefits for business, team and product and process, exploring the…

Abstract

Purpose

This aims to explore the relationship between the agile methods barriers in large-scale contexts and the benefits for business, team and product and process, exploring the organizational readiness (OR) mediating role.

Design/methodology/approach

We propose a theoretical model through survey-based research, applying partial least square structural equation modelling.

Findings

We confirmed that OR mediating effect on the relationship between agile methods barriers and team benefits. We operationalized OR in a broader context that embeds the strategic alignment of large-scale agile implementation, considering variables such as organizational structure and culture.

Research limitations/implications

The data are cross-sectional rather than longitudinal, which limits temporal interpretations of the associations between agile methods and organizational issues.

Practical implications

The findings offer a way forward for organizations already using or planning to implement agile management to understand the pathway towards achieving the expected benefits. Our study also unveils the importance of looking at OR when implementing such a complex change in management from traditional to large-scale contexts.

Originality/value

Our results show the significant and positive influence of agile method on all three benefit variables (team, business, product and processes). Furthermore, we identified the significant and positive mediating role of OR on the relationship between agile method and team benefits.

Details

International Journal of Managing Projects in Business, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8378

Keywords

Article
Publication date: 27 August 2024

Gang Sheng, Huabin Wu and Xiangdong Xu

The implementation of the digital economy has had a considerable influence on the manufacturing industry, and this paper aims to address the important issues of how to capture the…

Abstract

Purpose

The implementation of the digital economy has had a considerable influence on the manufacturing industry, and this paper aims to address the important issues of how to capture the opportunities presented by digital innovation and promote the transformation and upgrading of the manufacturing industry, as well as the improvement of quality and efficiency.

Design/methodology/approach

Using panel data from 30 Chinese provinces and cities between 2010 and 2021, this study establishes the panel vector autoregression (PVAR) model and uses impulse response function analysis to evaluate the influence of the digital economy on the high-quality transformation and upgrading of China's small home appliance industry across five dimensions under the digital economy.

Findings

The development of digital infrastructure has not demonstrated a noteworthy capacity for advancing the transformation and upgrading of the small home appliance industry. Furthermore, digital industrialization has exerted a minimal restraining influence on this process. Nevertheless, digital governance has consistently exhibited a substantial impact on facilitating the transformation and upgrading of the small home appliance industry. While both industrial digitization and digital innovation hold significant potential for promoting the transformation and upgrading of the small home appliance industry, their sustainability remains limited.

Practical implications

The organization should logically join independent innovation and open innovation, construct an industrial ecosystem for the profound convergence of the digital economy and compact household appliances, use digital-wise science and technology to empower the establishment of brand effects, strengthen the portrayal of the digital standard framework for the intelligent compact household appliance industry, advance the development of a public stage for computerized administrations in the compact household appliance industry and develop a strategy ecosystem for computerized assets in the compact household appliance industry.

Originality/value

This study offers systematic evidence of the relationship between the digital economy and the development of the small home appliance industry. The results of this research contribute to the literature on the impact of the digital economy on the manufacturing sector and provide a logical explanation for the transformation and upgrading of the small home appliance industry within the context of the digital economy.

Details

Chinese Management Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-614X

Keywords

Article
Publication date: 23 August 2024

Wenyao Niu, Yuan Rong and Liying Yu

The purpose of this study is to establish a synthetic group decision framework based on the Pythagorean fuzzy (PF) set to select the optimal medicine cold chain logistics provider…

Abstract

Purpose

The purpose of this study is to establish a synthetic group decision framework based on the Pythagorean fuzzy (PF) set to select the optimal medicine cold chain logistics provider (MCCLP). Fierce market competition makes enterprises must constantly improve every link in the process of enterprise sustainable development. The evaluation of MCCLP in pharmaceutical enterprises is an important link to enhance the comprehensive competitiveness. Because of the fuzziness of expert cognition and the complexity of the decision procedure, PF set can effectively handle the uncertainty and ambiguity in the process of multi-criteria group decision decision-making (MCGDM).

Design/methodology/approach

This paper develops an integrated group decision framework through combining the Decision-Making Trial and Evaluation Laboratory (DEMATEL) technique and combined compromise solution (CoCoSo) approach to select a satisfactory MCCLP within PF circumstances. First, the PF set is used to process the ambiguity and uncertainty of the cognition ability of experts. Second, a novel PF knowledge measure is propounded to measure the vagueness of the PF set. Third, a comprehensive criterion weight determination technique is developed through aggregating subjective weights attained utilizing the PF DEMATEL approach and objective weight deduced by knowledge measure method. Furthermore, an integrated MCGDM approach based on synthetic weight and CoCoSo method is constructed.

Findings

The outcomes of sensibility analysis and comparison investigation show that the suggested decision framework can help decision experts to choose a satisfactory MCCLP scientifically and reasonably. Accordingly, the propounded comprehensive decision framework can be recommended to enterprises and organizations to assess the MCCLP for their improvement of core competitiveness.

Originality/value

MCCLP selection is not only momentous for pharmaceutical enterprises to improve transportation quality and ensure medicine safety but also provides a strong guarantee for enterprises to improve their core competitiveness. Nevertheless, enterprises face certain challenges due to the uncertainty of the assessment environment as well as human cognition in the process of choosing a satisfactory MCCLP. PF set possesses a formidable capability to address the uncertainty and imprecision information in the process of MCGDM. Therefore, pharmaceutical enterprises can implement the proposed method to evaluate the suppliers to further improve the comprehensive profit of enterprises.

Details

Journal of Enterprise Information Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1741-0398

Keywords

Article
Publication date: 23 September 2024

Bernardo Cerqueira de Lima, Renata Maria Abrantes Baracho, Thomas Mandl and Patricia Baracho Porto

Social media platforms that disseminate scientific information to the public during the COVID-19 pandemic highlighted the importance of the topic of scientific communication…

Abstract

Purpose

Social media platforms that disseminate scientific information to the public during the COVID-19 pandemic highlighted the importance of the topic of scientific communication. Content creators in the field, as well as researchers who study the impact of scientific information online, are interested in how people react to these information resources and how they judge them. This study aims to devise a framework for extracting large social media datasets and find specific feedback to content delivery, enabling scientific content creators to gain insights into how the public perceives scientific information.

Design/methodology/approach

To collect public reactions to scientific information, the study focused on Twitter users who are doctors, researchers, science communicators or representatives of research institutes, and processed their replies for two years from the start of the pandemic. The study aimed in developing a solution powered by topic modeling enhanced by manual validation and other machine learning techniques, such as word embeddings, that is capable of filtering massive social media datasets in search of documents related to reactions to scientific communication. The architecture developed in this paper can be replicated for finding any documents related to niche topics in social media data. As a final step of our framework, we also fine-tuned a large language model to be able to perform the classification task with even more accuracy, forgoing the need of more human validation after the first step.

Findings

We provided a framework capable of receiving a large document dataset, and, with the help of with a small degree of human validation at different stages, is able to filter out documents within the corpus that are relevant to a very underrepresented niche theme inside the database, with much higher precision than traditional state-of-the-art machine learning algorithms. Performance was improved even further by the fine-tuning of a large language model based on BERT, which would allow for the use of such model to classify even larger unseen datasets in search of reactions to scientific communication without the need for further manual validation or topic modeling.

Research limitations/implications

The challenges of scientific communication are even higher with the rampant increase of misinformation in social media, and the difficulty of competing in a saturated attention economy of the social media landscape. Our study aimed at creating a solution that could be used by scientific content creators to better locate and understand constructive feedback toward their content and how it is received, which can be hidden as a minor subject between hundreds of thousands of comments. By leveraging an ensemble of techniques ranging from heuristics to state-of-the-art machine learning algorithms, we created a framework that is able to detect texts related to very niche subjects in very large datasets, with just a small amount of examples of texts related to the subject being given as input.

Practical implications

With this tool, scientific content creators can sift through their social media following and quickly understand how to adapt their content to their current user’s needs and standards of content consumption.

Originality/value

This study aimed to find reactions to scientific communication in social media. We applied three methods with human intervention and compared their performance. This study shows for the first time, the topics of interest which were discussed in Brazil during the COVID-19 pandemic.

Details

Data Technologies and Applications, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9288

Keywords

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