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1 – 10 of over 2000
Article
Publication date: 17 October 2022

Yulianti Abbas and Yunieta Anny Nainggolan

The coronavirus disease 2019 (COVID-19) outbreak in the first quarter of 2020 has caused a severe decline in stock markets worldwide. While prior studies in developed markets…

Abstract

Purpose

The coronavirus disease 2019 (COVID-19) outbreak in the first quarter of 2020 has caused a severe decline in stock markets worldwide. While prior studies in developed markets found that workplace closure can negatively impact the capital market (e.g. Ozili and Arun, 2020), lesser is known about how it impacts emerging capital markets, which may have different characteristics and behaviour (Harjoto et al., 2021). Hence, this study seeks to uncover stock performance around workplace closure dates of firms incorporated in ASEAN countries and investigates the role of accounting fundamentals in mitigating workplace closure policy's effects on stock performances.

Design/methodology/approach

Using an event study methodology, the authors measure the cumulative abnormal returns (CARs) around workplace closure dates. The authors then use cross-sectional analysis to analyse whether the accounting fundamentals, specifically profitability, cash flow, and leverage, are associated with the CAR. This cross-sectional study involves 1,720 firms that are incorporated in the ASEAN countries.

Findings

This analysis indicates that, on average, ASEAN capital markets react negatively to workplace closure policies. The authors then find that the CARs around workplace closure dates are positively associated with the current ratios and are negatively associated with long-term debt ratios. This study’s results thus indicate that firms with a higher liquidity and a higher solvency experience a less adverse impact of the COVID-19 pandemic than other firms. The authors also find that the associations are more robust for (1) firms in industries more affected by COVID-19 and (2) firms located in countries with more severe cases. Additionally, contrary to this study’s expectation, the authors do not find meaningful associations between CARs around workplace closure dates and firms' cash flow from operation and profit respectively. This study’s results suggest that investors view prior performances related to firms' ability to generate operating cash flow and profit as less relevant to measure firm performance around the workplace closure event.

Research limitations/implications

This study’s results contribute to studies examining fundamental accounting roles during the COVID-19 era, specifically in emerging economies. The findings are critical for investors in understanding the company fundamentals associated with stock price performance in emerging markets during the recent health-related crisis.

Originality/value

Most studies analysing cross-sectional differences in stock returns during the COVID-19 era focus on industry-level differences and use observations from developed markets (Sinagl, 2020; Ramelli and Wagner, 2020). Studies using firm-level analysis in emerging markets are still limited. The authors expand prior studies by using firm-level analysis that spans six countries in ASEAN.

Details

Journal of Accounting in Emerging Economies, vol. 13 no. 5
Type: Research Article
ISSN: 2042-1168

Keywords

Article
Publication date: 3 February 2023

Giovanni Cláudio Pinto Condé, Pedro Carlos Oprime, Marcio Lopes Pimenta, Juliano Endrigo Sordan and Carlos Renato Bueno

Competitive pressures force companies to seek solutions to eliminate wastes while improving product quality. Lean Six Sigma (LSS) has been considered one of the most effective…

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Abstract

Purpose

Competitive pressures force companies to seek solutions to eliminate wastes while improving product quality. Lean Six Sigma (LSS) has been considered one of the most effective approaches for business transformation. This article aims to present an empirical case study where LSS and Define, Measure–Analyze–Improve–Control (DMAIC) methodologies are applied to reduce defects in a car parts manufacturer.

Design/methodology/approach

The study follows the DMAIC methodology. Design of experiments and hypothesis testing were applied in a single case study.

Findings

The main defects and the main factors that cause defective parts were indicated for die-casting and machining processes. Solutions implemented reduced the defect incidence from a chronically high level to an acceptable one. The sigma level rose from 3.4 s to 4 s sustainably.

Research limitations/implications

The study is limited to a single case study, without intention of generalizing the results to other types of industries.

Practical implications

This paper can be a useful guide of how to use DMAIC Six Sigma approach to defect reduction and can be applied in many sectors.

Social implications

This study offers the knowledge on how to apply the Six Sigma DMAIC methodology, reducing the dependence on specialization courses.

Originality/value

This study describes in detail the process used in a structured improvement exercise including sigma-level calculation, factorial experiments and hypothesis tests – a set of techniques still poorly combined in the literature.

Details

International Journal of Quality & Reliability Management, vol. 40 no. 9
Type: Research Article
ISSN: 0265-671X

Keywords

Open Access
Article
Publication date: 17 October 2022

Mervi Hamalainen and Asta Salmi

The purpose of this paper is to investigate two current transformation processes in the construction industry: the adoption of a novel material, cross-laminated timber (CLT), and…

1650

Abstract

Purpose

The purpose of this paper is to investigate two current transformation processes in the construction industry: the adoption of a novel material, cross-laminated timber (CLT), and the enhancement of digital transformation. This paper depicts the actors and interaction in the business network that is emerging around CLT construction and, in particular, how digital transformation (that is, the deployment of Construction 4.0 solutions) occurs in this business network.

Design/methodology/approach

Digital transformation is a relatively new phenomenon in CLT construction, and the authors, therefore, adopt a qualitative inductive research approach and rely on semi-structured interviews.

Findings

The findings of this paper suggest that it is critical for actors to adopt an interorganizational perspective in CLT construction, instead of only focusing on internal operations. An interorganizational perspective supports successful CLT construction, as well as the deployment of Construction 4.0 solutions. This will bring about the benefits of digital transformation in the construction industry.

Research limitations/implications

This paper investigates the network created around CLT construction in Finland but more generally illustrates the change toward Construction 4.0 solutions.

Practical implications

For managers, this paper explicates the importance of networking, instead of focusing on the internal development of the company, when adopting novel solutions emerging from both construction and information technology-related advancements.

Originality/value

Stability and traditions are characteristic of the construction industry. New technical solutions and materials, together with calls for sustainability, have challenged the traditional ways of constructing, and for example, the development of CLT construction has led to an emergence of new business networks. This material-related process and the ongoing digital transformation of business form an interesting context for an empirical-based analysis of changing interaction and networks. This paper gives the first insights into how digital transformation can benefit the evolution of the network.

Details

Journal of Business & Industrial Marketing, vol. 38 no. 6
Type: Research Article
ISSN: 0885-8624

Keywords

Expert briefing
Publication date: 19 March 2024

In late January, Uzbek President Shavkat Mirziyoyev paid a state visit to China to seek greater investment and trade opportunities. Mirziyoyev’s visit is the culmination of years…

Abstract

Details

Embracing Chaos
Type: Book
ISBN: 978-1-83753-635-1

Book part
Publication date: 13 June 2023

Menatallah Darrag, Raghda El Ebrashi, Amira Aldibiki and Salma Tosson

The United Nations Industrial Development Organization (UNIDO) (2017, pp. 14–15) identified that “industrialization is the seedbed for entrepreneurship, business investment…

Abstract

The United Nations Industrial Development Organization (UNIDO) (2017, pp. 14–15) identified that “industrialization is the seedbed for entrepreneurship, business investment, technological progress, the upgrading of skills, and the creation of decent jobs.” This placed studying different industrial sectors and their respective clusters, which are key drivers for economy, innovation, and knowledge creation (Slaper, Harmon, & Rubin, 2018), at the forefront of research. This chapter tackles the automobile industrial cluster in Egypt that possesses promising potential yet faces some challenges. It aims to provide an overview of the cluster, alongside underpinning its strengths and obstacles facing it. Moreover, the chapter displays the importance of the labor dimension in increasing the labor competitiveness of the cluster and showcases this through two cases of German automobile manufacturers that pioneered in venturing into the market through employing technical and vocational education and training. In conclusion, recommendations are provided to help in steering the cluster toward success.

Details

Industry Clusters and Innovation in the Arab World
Type: Book
ISBN: 978-1-80262-872-2

Keywords

Open Access
Article
Publication date: 19 May 2023

Lars-Erik Gadde and Håkan Håkansson

In today’s business settings, most firms strive to closely integrate their resources and activities with those of their business partners. However, these linkages tend to create…

1375

Abstract

Purpose

In today’s business settings, most firms strive to closely integrate their resources and activities with those of their business partners. However, these linkages tend to create lock-in effects when changes are needed. In such situations, firms need to generate new space for action. The purpose of this paper is twofold: analysis of potential action spaces for restructuring; and examination of how action spaces can be exploited and the consequences accompanying this implementation.

Design/methodology/approach

Network dynamics originate from changes in the network interdependencies. This paper is focused on the role of the three dual connections – actors–activities, actors–resources and activities–resources, identified as network vectors. In the framing of the study, these network vectors are combined with managerial action expressed in terms of networking and network outcome. This framework is then used for the analysis of major restructuring of the car industries in the USA and Europe at the end of the 1900s.

Findings

This study shows that the restructuring of the car industry can be explained by modifications in the three network vectors. Managerial action through changes of the vector features generated new action space contributing to the transition of the automotive network. The key to successful exploitation of action space was interaction – with individual business partners, in triadic constellations, as well as on the network level.

Originality/value

This paper presents a new view of network dynamics by relying on the three network vectors. These concepts were developed in the early 1990s. This far, however, they have been used only to a limited extent.

Details

Journal of Business & Industrial Marketing, vol. 38 no. 13
Type: Research Article
ISSN: 0885-8624

Keywords

Book part
Publication date: 13 June 2023

Sameh Hammad

Building industrial clusters is getting much more political attention and strategic orientation in all developing countries. This study started by revising the conceptual and…

Abstract

Building industrial clusters is getting much more political attention and strategic orientation in all developing countries. This study started by revising the conceptual and theoretical frameworks for industrial clusters, followed by some insights and contributions about empirical bases for clusters' dynamics and processes. The study focused on the case of Agadir Agreement between four Arab countries (Egypt, Jordon, Morocco, and Tunisia), which was initiated after the Euro-Mediterranean partnerships, and the rationale of the agreement was based on the concept of cumulative value-added origin. The study based its methodology on analyzing the international and bilateral trade flows of six industrial goods from the automotive sector among the four countries and with the EU countries to detect the degree of industrial collaboration and the achieved success of each country in this sector. The study indicated that the four countries used the concept of industrial clusters for economic development, but the results of the analysis showed that till now Agadir Agreement only achieved a shallow integration, while failed to deeply integrate as one big collaborative industrial cluster.

Expert briefing
Publication date: 10 January 2024

Russia’s full-scale invasion of Ukraine and subsequent Western sanctions caused a severe crisis in the automotive sector. Supply chains were severed, output collapsed and exports…

Article
Publication date: 2 August 2022

Hasan Valiyan, Mohammadreza Abdoli, Alireza Koushki Jahromi, Leila Zamanianfar and Peyman Gholizadeh

Automotive industry is one of the most important industries in the economy of countries due to its extensive relationship with other industries; high production and employment…

Abstract

Purpose

Automotive industry is one of the most important industries in the economy of countries due to its extensive relationship with other industries; high production and employment rate play a significant role in the sustainable development of countries. Therefore, the improvement of value creation integration strategies in this industry is very important because it is related to the level of economic sustainability of countries. The purpose of this study is to analyze the integration matrix of the creating sustainable value process in the automotive industry.

Design/methodology/approach

This research is a development/mixed methodology that aims to symmetrically combine the relationship between the components of sustainable value creation integration through Mick Mac matrix analysis to identify the most effective drivers of the research subject in the Iranian automotive industry. Therefore, in this study, first, in the qualitative part, meta-synthesis analysis and Delphi analysis were used to identify the thematic components of the integration of the process of creating sustainable value and to determine the theoretical adequacy of the components. Then, in a small part, an attempt was made to explain the approved components, based on the symmetric matrix analysis in the Mic Mac diagram, in the automotive industry to determine a more stimulus for integrating the sustainable value creation process, with the participation of 16 automotive executives.

Findings

Based on the results in the qualitative section, 8 thematic components were identified to evaluate the integration of the sustainable value creation process, and after Delphi approval, these components were approved in terms of theoretical adequacy. The results in the quantitative part based on matrix analysis showed that the most motivating component in integrating the process of creating sustainable value in the automotive industry is the development of innovative ideas. To create integration in creating sustainable value, it is necessary to create a positive impact of creative ideas in the three components of balancing performance with the changing needs of K3 customers, the dynamics of communication with K8 suppliers, reducing the diversity of materials used in K5 production.

Originality/value

This paper is considered as a research that contributes to the broader research area of the automotive industry by unpacking the concept of value creation from a sustainability perspective. This is the first study to review extensively of integrating sustainable value creation process into the automotive industry. Although an area of research importance in terms of developing theoretical literature and applied basis in increasing the effectiveness of competitive strategies. But less research has examined this issue, and conducting this research and expanding it to the level of sustainability value literature can enhance its institutional and research capacities at the international level and contribute to the coordination of the development of theoretical.

Details

The TQM Journal, vol. 35 no. 7
Type: Research Article
ISSN: 1754-2731

Keywords

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