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Article

John E. Tyworth

Trade‐offs among logistics cost and service elements often maketransport selection analysis difficult, especially when demand isuncertain and carriers offer different…

Abstract

Trade‐offs among logistics cost and service elements often make transport selection analysis difficult, especially when demand is uncertain and carriers offer different rates and services. The spreadsheet environment offers a powerful, manager‐friendly medium for analysing these trade‐offs. This microcomputer application exploits some of the recent advances in spreadsheet technology to provide transport buyers with a tool for evaluating such complex logistical trade‐offs. This tool demonstrates how the emerging spreadsheet technology makes it relatively easy to develop a computer‐based model that can capture a rich level of detail that is beyond the scope of the current transport selection models using analytical approaches.

Details

International Journal of Physical Distribution & Logistics Management, vol. 21 no. 7
Type: Research Article
ISSN: 0960-0035

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Article

Li Cui

Although sustainability is a popular topic in the past decade, there is a lack of research to identify the driving factors for developing countries. The purpose of this…

Abstract

Purpose

Although sustainability is a popular topic in the past decade, there is a lack of research to identify the driving factors for developing countries. The purpose of this paper is to investigate the driving factors for achieving eco-innovation.

Design/methodology/approach

An in-depth case study is employed to address the objective outlined above. A Chinese company with more than 1,200 employees was selected to address the research question.

Findings

By fuzzy decision-making trial and evaluation laboratory and interpretive structural modelling analysis, the driving factors for eco-innovation are identified, and the priority of different factors has also been extracted.

Originality/value

This is among the first studies to carry similar analysis regarding eco-innovation. More specifically, this is perhaps the first study to take this approach and to analyse this topic in a developing country.

Details

Industrial Management & Data Systems, vol. 117 no. 5
Type: Research Article
ISSN: 0263-5577

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Article

Henry Lau, Yung Po Tsang, Dilupa Nakandala and Carman K.M. Lee

In the cold supply chain (SC), effective risk management is regarded as an essential component to address the risky and uncertain SC environment in handling time- and…

Abstract

Purpose

In the cold supply chain (SC), effective risk management is regarded as an essential component to address the risky and uncertain SC environment in handling time- and temperature-sensitive products. However, existing multi-criteria decision-making (MCDM) approaches greatly rely on expert opinions for pairwise comparisons. Despite the fact that machine learning models can be customised to conduct pairwise comparisons, it is difficult for small and medium enterprises (SMEs) to intelligently measure the ratings between risk criteria without sufficiently large datasets. Therefore, this paper aims at developing an enterprise-wide solution to identify and assess cold chain risks.

Design/methodology/approach

A novel federated learning (FL)-enabled multi-criteria risk evaluation system (FMRES) is proposed, which integrates FL and the best–worst method (BWM) to measure firm-level cold chain risks under the suggested risk hierarchical structure. The factors of technologies and equipment, operations, external environment, and personnel and organisation are considered. Furthermore, a case analysis of an e-grocery SC in Australia is conducted to examine the feasibility of the proposed approach.

Findings

Throughout this study, it is found that embedding the FL mechanism into the MCDM process is effective in acquiring knowledge of pairwise comparisons from experts. A trusted federation in a cold chain network is therefore formulated to identify and assess cold SC risks in a systematic manner.

Originality/value

A novel hybridisation between horizontal FL and MCDM process is explored, which enhances the autonomy of the MCDM approaches to evaluate cold chain risks under the structured hierarchy.

Details

Industrial Management & Data Systems, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0263-5577

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Book part

Esfandiar Maasoumi, Melinda Pitts and Ke Wu

We examine the cardinal gap between wage distributions of the incumbents and newly hired workers based on entropic distances which are well-defined welfare theoretic…

Abstract

We examine the cardinal gap between wage distributions of the incumbents and newly hired workers based on entropic distances which are well-defined welfare theoretic measures. Decomposition of several effects is achieved by identifying several counterfactual distributions of different groups. These go beyond the usual Oaxaca–Blinder decompositions at the (linear) conditional means. Much like quantiles, these entropic distances are well-defined inferential objects and functions whose statistical properties have recently been developed. Going beyond these strong rankings and distances, we consider weak uniform ranking of these wage outcomes based on statistical tests for stochastic dominance. The empirical analysis is focused on employees with at least 35 hours of work in the 1996–2012 monthly Current Population Survey (CPS). Among others, we find incumbent workers enjoy a better distribution of wages, but the attribution of the gap to wage inequality and human capital characteristics varies between quantiles. For instance, highly paid new workers are mainly due to human capital components, and in some years, even better wage structure.

Details

Essays in Honor of Peter C. B. Phillips
Type: Book
ISBN: 978-1-78441-183-1

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Book part

Kim Abildgren

Empirical studies on household-level inflation inequality have so far only focused on periods with positive inflation rates. However, the major concern on the policy…

Abstract

Empirical studies on household-level inflation inequality have so far only focused on periods with positive inflation rates. However, the major concern on the policy agenda since the most recent financial crisis has been deflation rather than inflation. This naturally raises the question regarding the effect of deflation on the distribution of real income when households spend their budget on different consumption bundles. This chapter compiles annual household-level inflation rates in Denmark from 1930 to 1935 based on microdata from the Expenditure and Saving Survey of 1931 and price data from the official Retail Price Index. The results indicate that lower-income households faced a larger decline in prices on their consumption of goods and services during the deflation years 1930–1932 than higher-income households did. The deflation thus contributed to narrowing the difference in real incomes between the top and bottom parts of the income distribution during the recession. In the years 1933–1935 with positive inflation rates, the lower-income households experienced higher inflation rates than higher-income households. Over the period 1930–1935 seen as a whole, the price development contributed slightly to reducing real income inequality. The low degree of medium-term persistence of differences in household-specific inflation rates is consistent with previous findings in various time periods from the 1960s to the 2000s without any persistent deflation events. The chapter at hand is the first empirical study of the direct distributional effects of price developments at the household level in a period with persistent deflation.

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Article

Sahminan Sahminan, Oki Hermansyah and Robbi Nur Rakhman

The purpose of this paper is to construct indices on Indonesia’s economic infrastructure. The components of infrastructure include transportation, communications and…

Abstract

Purpose

The purpose of this paper is to construct indices on Indonesia’s economic infrastructure. The components of infrastructure include transportation, communications and electricity. In constructing the indices, the authors use the longest available data covering the period 1970-2015. The indices of each component of infrastructure are aggregated linearly with the weights calculated using principal component analysis (PCA). The infrastructure index for Indonesia has had a positive increasing trend since 1970, particularly supported by the increase in the infrastructure indices of electricity and telecommunication. Meanwhile, the infrastructure index of transportation has been relatively stable. The infrastructure index constructed shows positive relation with Indonesia’s GDP growth and GDP per capita.

Design/methodology/approach

In constructing the indices, the authors use the longest available data covering the period 1970-2015. The indices of each components of infrastructure are aggregated linearly with the weights calculated using PCA.

Findings

The infrastructure index for Indonesia has a positive increasing trend since 1970, particularly supported by the increase in the infrastructure indices of electricity and telecommunication. Meanwhile, the infrastructure index of transportation has been relatively stable. The infrastructure index constructed shows positive relation with Indonesia’s GDP growth and GDP per capita.

Originality/value

The novelty of this research is a construction of the infrastructure index for Indonesia. The infrastructure index is important to benchmark the level of infrastructure development and to understand its connection to economic growth. It is also an important barometer used by policymakers for infrastructure investment and planning purposes.

Details

Studies in Economics and Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1086-7376

Keywords

Content available
Article

José Carlos Sánchez de la Vega, José Daniel Buendía Azorín, Antonio Calvo-Flores Segura and Miguel Esteban Yago

The purpose of this paper is to provide a measure of competitiveness of the Spanish autonomous communities from a multidimensional and dynamic perspective for the period 2008-2016.

Abstract

Purpose

The purpose of this paper is to provide a measure of competitiveness of the Spanish autonomous communities from a multidimensional and dynamic perspective for the period 2008-2016.

Design/methodology/approach

This paper adopts a broad definition of competitiveness based on five key environments (productive capital, human capital, social and institutional capital, infrastructure and knowledge) and comprising 53 indicators. The method used to construct the competitiveness index is based on the P-distance proposed by Pena Trapero (1979), which objectively assigns weights to the indicators. There is an important advantage in the methodological proposal of this study, as it allows analyzing the behavior of partial and aggregated indicators from a dynamic perspective, taking the same value as a reference for the entire period. Therefore, not only a classification obtained for each year but also the variation that occurs in terms of the reference period can be analyzed.

Findings

The classification of the autonomous communities is established using common intervals based on the results obtained for the whole period, i.e. 2008-2016. The data point to the unequal situations of the autonomous communities. The results also reveal that the evolution of the regional competitiveness synthetic index is clearly cyclical and the drop recorded in the recessive period is less pronounced than the increase recorded in the growth phase.

Originality/value

The main innovation of the competitiveness index presented here lies in its allowing comparisons over time.

Details

Applied Economic Analysis, vol. 27 no. 80
Type: Research Article
ISSN:

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Article

Md Shamimul Hasan, Normah Omar, Paul Barnes and Morrison Handley-Schachler

The purpose of this study is threefold: first, to detect trends in financial statement manipulation; second, to measure the level of manipulation and to measure the…

Abstract

Purpose

The purpose of this study is threefold: first, to detect trends in financial statement manipulation; second, to measure the level of manipulation and to measure the variation in manipulation between countries; and, third, to identify widely used techniques in financial statements manipulation.

Design/methodology/approach

This study uses financial data of listed companies from Asia, namely, Japan, Singapore, Malaysia, Indonesia, Thailand, Hong Kong and China. The study adopts financial ratios, financial forensic tool, dichotomous approach and statistical tools to analyze the data (84,000 observations) over a period of four years from 2010 to 2013.

Findings

The results show that 34 per cent of sample companies in selected Asian countries are involved in the manipulation of financial statements; the average level of manipulation (overall manipulation index) is 72 per cent; and there is a significant difference between countries at 5 per cent level. The study also identifies four most commonly used techniques, namely: days’ sales in receivable (DSRI), depreciation (DEPI), assets quality (AQI) and total accruals to total assets (TATA).

Research limitations/implications

Although this study found a significant national difference between countries in terms of practicing manipulation in financial statements, it did not address the issue of why some countries have higher level of manipulation and greater fluctuations in manipulation than others. Further study could be conducted to look for the reasons on these issues.

Practical implications

Investors and other stakeholders are advised to judge the manipulation in financial statements before fixing up for investment. At least they should examine Sales, Accounts Receivable, Depreciation, Value of Fixed Assets and Accruals data before accepting the financial statement in good faith.

Social implications

The trend of manipulation in financial statements is increasing day by day and that is why it needs to prevent to protect our society from white collar crime. The cost of white collar crime is much higher and key executives are making money at the expense of investors and other stakeholders. This kind of study creates awareness among stakeholders about the manipulation as well as provides techniques to examine the faithfulness of financial statements. Then, managers will not overstate or understate either revenues or expenses easily, as it can damage the goodwill.

Originality/value

This is the first study of its kind addressing measurement of manipulation score, overall manipulation index (OMI) and identification of widely used variables of manipulation in financial statements are new contributions towards existing literature of earnings manipulation.

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Article

Brian Micallef

The purpose of this paper is to compute an aggregate misalignment index using a multiple indicator approach to identify under- or over-valuation of house prices in Malta…

Abstract

Purpose

The purpose of this paper is to compute an aggregate misalignment index using a multiple indicator approach to identify under- or over-valuation of house prices in Malta based on fundamentals.

Design/methodology/approach

A total of six indicators are used that capture households, investors and system-wide factors: the house price-to-Retail Price Index ratio, the price-to-hypothetical borrowing volume ratio, price-to-construction costs ratio, price-to-rent ratio, dwelling investment-to-GDP ratio and the loan bearing capacity. The weights are derived using principal component analysis. The analysis is performed using both the house price indices of the National Statistics Office (NSO) and the Central Bank of Malta (CBM), which are based on contract and advertised prices, respectively.

Findings

House prices in Malta were overvalued by around 20 to 25 per cent in the pre-crisis boom. This disequilibrium started to be corrected following the decline in house prices, with the CBM and NSO house price cycles reaching a trough in 2013 and 2014, respectively. At the trough, house prices were undervalued by around 10 to 15 per cent. Since then, house prices started to recover although the recovery in advertised prices was more pronounced compared to that based on contract prices. In mid-2017, advertised house prices were slightly overvalued, while contract prices still have to reach their equilibrium level. The dynamics from the misalignment index, including its peaks and troughs, are remarkably similar to the range derived from statistical filters.

Practical implications

Estimates of house price misalignment have both economic and financial stability implications.

Originality/value

This paper allows for a decomposition of the house price cycle, tailored for the particular characteristics of the Maltese housing market. It also takes into account the relationship between house prices and private sector rents, which in recent years have been buoyed, among other factors, by the high inflow of foreign workers and changing patterns in the tourism industry.

Details

International Journal of Housing Markets and Analysis, vol. 11 no. 2
Type: Research Article
ISSN: 1753-8270

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Article

Md Shamimul Hasan, Normah Omar and ABM Rashedul Hassan

The purpose of this study is to examine the relationship between financial strength or condition and managerial practices in preparing financial statements of public…

Abstract

Purpose

The purpose of this study is to examine the relationship between financial strength or condition and managerial practices in preparing financial statements of public limited companies. The objectives of this study are threefold – to measure the financial strength, to measure integrity index and to examine the relationship between management practices and financial strength.

Design/methodology/approach

Financial ratios, Altman’s Z-Score, integrity index, ranking approach and chi-square test are used to achieve the objectives. A multi-year cross-country analysis is done by considering sample of seven Asian countries, namely, Malaysia, Singapore, Thailand, Indonesia, Hong Kong, China and Japan.

Findings

The study catches the relationship between management practices and financial strength across sample countries. Management practices is one of the responsible factors for this relationship. They use discretionary power in preparing financial statements to control the trading results. The principles of accounting do not support the alteration of financial data to look the company better on paper. The cost of financial statement fraud is higher than other occupational fraud.

Research limitations/implications

This study does not cover factors other than management practices and further study could be conducted to look for the other reasons that may also responsible for the deviations.

Practical implications

Conflict of interest between shareholders and board of directors is not a new phenomenon. Auditing system is introduced to minimize this conflict of interest, but they failed to uphold their position in reality. Management also needs to prove their integrity in financial statements. Ethical consideration is the highest priority.

Social implications

Stakeholders, especially regulators, professional bodies and academics, should concentrate on the issue on ‘how to reduce the manipulation in financial statements’ to create a safe investments avenue for the nation.

Originality/value

This study provides empirical evidences regarding the influence of management practices on financial statements and financial strength of listed companies across countries. The culture, attitudes, beliefs, perceptions, etc., are different from country to country. The aim is to contribute empirical evidence about the relationship between management practices and financial health in different settings. This study is first of its kind.

Details

Journal of Financial Crime, vol. 25 no. 3
Type: Research Article
ISSN: 1359-0790

Keywords

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