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1 – 10 of over 26000Sees the objective of teaching financial management to be to helpmanagers and potential managers to make sensible investment andfinancing decisions. Acknowledges that financial…
Abstract
Sees the objective of teaching financial management to be to help managers and potential managers to make sensible investment and financing decisions. Acknowledges that financial theory teaches that investment and financing decisions should be based on cash flow and risk. Provides information on payback period; return on capital employed, earnings per share effect, working capital, profit planning, standard costing, financial statement planning and ratio analysis. Seeks to combine the practical rules of thumb of the traditionalists with the ideas of the financial theorists to form a balanced approach to practical financial management for MBA students, financial managers and undergraduates.
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Xianming Shi, Greg Hansen, Monty Mills, Scott Jungwirth and Yan Zhang
This paper aims to report the best practices of deicer corrosion control adopted by the Washington State Department of Transportation (WSDOT) to preserve the performance…
Abstract
Purpose
This paper aims to report the best practices of deicer corrosion control adopted by the Washington State Department of Transportation (WSDOT) to preserve the performance, reliability and value of its highway maintenance equipment assets.
Design/methodology/approach
To enable quantitative analyses, data were collected from a site visit to WSDOT, as well as from a survey of maintenance practitioners from various transportation agencies. The direct costs related to equipment corrosion aggravated by the exposure to roadway deicers were analyzed, along with the direct benefits of mitigating such corrosion, using WSDOT as a case study. In addition, the same preliminary cost benefit analysis was conducted for an “average” Department of Transportation in a northern climate.
Findings
Both cases show a highly favorable benefit-to-cost ratio for enhanced investment in controlling the risk of deicer corrosion.
Research limitations/implications
It has not yet been possible to confirm this compelling argument because the analysis is partly based on assumptions instead of fully based on actual data.
Practical implications
This work highlights the need to collect the relevant data such that future analysis and sensitivity analysis can be substantiated with actual data on costs and benefits. It concludes with a few suggestions for implementation.
Originality/value
Many components in highway maintenance equipment fleet are at the risk of metallic corrosion, which is exacerbated in service environments where roadway deicers have been applied. This work lays the foundation for future research into this important issue.
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Johan Christiaens, Jan Rommel, Allan Barton and Patricia Everaert
In recent years, accrual accounting has become increasingly popular in many governments. Yet some questions remain unresolved. Previous literature questioned whether all…
Abstract
Purpose
In recent years, accrual accounting has become increasingly popular in many governments. Yet some questions remain unresolved. Previous literature questioned whether all governmental assets should be capitalized. Whereas those studies mostly focussed separately on a limited number of assets, such as infrastructure, military assets or heritage assets, the purpose of this paper is to expand these views by taking a holistic approach to their treatment.
Design/methodology/approach
The paper is based on a literature review combined with archival data, being the IPSAS (International Public Sector Accounting Standards).
Findings
The analysis distinguishes between the business and government sectors of the economy and argues that business accounting for assets cannot be applied to the public sector without significant modification. Secondly, within the public sector, it is argued that “businesslike assets” (such as normal buildings and equipment) should be distinguished from “specific governmental assets” (such as art galleries), where the latter should be reported off balance sheet as community assets held in trust by governments for community enjoyment.
Practical implications
The current paper presents a solution for recognizing capital assets in different situations.
Originality/value
The paper reveals some basic differences in points of view between the governmental dimension versus a businesslike dimension in considering capital assets.
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An organization's value structure is measured in terms of assets or lack of assets. Assets are items that have an exchange value. In a more strict accounting sense, assets are the…
Abstract
An organization's value structure is measured in terms of assets or lack of assets. Assets are items that have an exchange value. In a more strict accounting sense, assets are the resources of a person or business. Common types of assets are cash, equipment, real estate property, inventory, and good will. In the service industry employees are often described as assets to their company because their skills and personal contacts produce value for the firm. Information is considered an asset by organizations ranging from CBS or NBC to the Central Intelligence Agency. For many companies information is an asset, a type of raw material that contributes to the product development process. Information, of course, also may be that company's product. The concept of assets can provide a valuable way of viewing the management of a library.
Steven Laposa and Mark Charlton
This paper compares the corporate property holdings of European and US corporations. The authors initially calculate standard benchmarks based on accounting and balance‐sheet…
Abstract
This paper compares the corporate property holdings of European and US corporations. The authors initially calculate standard benchmarks based on accounting and balance‐sheet information as of 1999, and then test for significant differences by two‐digit standard industrial classification levels between European and US firms. They follow the methodology of Johnson and Keasler (1993) and compare property, plant and equipment book values to a variety of non‐property balance sheet and market value figures. However, this paper extends previous research through a comparative analysis of 1,573 US firms to 2,182 European firms. The findings suggest there are significant differences between Europe and the USA, dependent on the specific benchmark and industrial sector. The conclusions postulate a variety of explanations of the corporate property differences and provide ideas for further research.
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Damai Nasution and Ralf Östermark
The purpose of this paper is to investigate the impact of improper social pressures on auditors’ judgment in the setting of a high power distance and low individualism society…
Abstract
Purpose
The purpose of this paper is to investigate the impact of improper social pressures on auditors’ judgment in the setting of a high power distance and low individualism society. Auditors’ judgment in this paper is related to the case of auditors’ willingness to sign off on net equipment balance for assets in question. Second, the paper investigates the role of locus of control and the relationship of multidimensional professional commitment on auditors’ judgment under conditions of social pressure.
Design/methodology/approach
The experimental method is used in this research. The paper uses a case that was developed by Lord and DeZoort to manipulate the interest variable, social pressures. The paper also uses locus of control and multidimensional professional commitment as the explanatory variables.
Findings
The research finds that social pressures affect auditors’ judgment in a high power distance and low individualism society. Auditors who contend with improper social pressures make judgments that violate their integrity and professionalism. The paper also finds that locus of control and multidimensionality of professional commitment might potentially affect auditors’ judgment.
Originality/value
The research takes into account cultural influence on auditors’ judgment. The paper uses subjects who are in a high power distance and low individualism society. As Public Accountant is a worldwide profession, it is important to understand the impact of cultural dimensions on the profession. Moreover, insights drawn from this paper may be of assistance to regulators and the public accountant profession in considering and developing a mechanism that can mitigate the impact of improper social pressures.
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Woodrow W. Cushing and Daniel E. McCarty
This study develops a model for estimating an index measure of asset specificity based on the liquidation value of corporate firms and the proportional distribution of their…
Abstract
This study develops a model for estimating an index measure of asset specificity based on the liquidation value of corporate firms and the proportional distribution of their pre‐liquidation assets. A statistically significant positive relationship was found to exist between the estimated specificity index and financial leverage supporting the theoretical prediction. Additional evidence was found that firms with higher variability in sales, lower probabilities of failure, higher valued non‐debt tax shields and higher levels of financial slack use less financial leverage.
C.E. Oude Weernink, E. Felix, P.J.E.M. Verkuijlen, A.T.M. Dierick-van Daele, J.K. Kazak and J. van Hoof
In the domain of healthcare, both process efficiency and the quality of care can be improved through the use of dedicated pervasive technologies. Among these applications are…
Abstract
Purpose
In the domain of healthcare, both process efficiency and the quality of care can be improved through the use of dedicated pervasive technologies. Among these applications are so-called real-time location systems (RTLS). Such systems are designed to determine and monitor the location of assets and people in real time through the use of wireless sensor networks. Numerous commercially available RTLS are used in hospital settings. The nursing home is a relatively unexplored context for the application of RTLS and offers opportunities and challenges for future applications. The paper aims to discuss these issues.
Design/methodology/approach
This paper sets out to provide an overview of general applications and technologies of RTLS. Thereafter, it describes the specific healthcare applications of RTLS, including asset tracking, patient tracking and personnel tracking. These overviews are followed by a forecast of the implementation of RTLS in nursing homes in terms of opportunities and challenges.
Findings
By comparing the nursing home to the hospital, the RTLS applications for the nursing home context that are most promising are asset tracking of expensive goods owned by the nursing home in order to facilitate workflow and maximise financial resources, and asset tracking of personal belongings that may get lost due to dementia.
Originality/value
This paper is the first to provide an overview of potential application of RTLS technologies for nursing homes. The paper described a number of potential problem areas that can be addressed by RTLS.
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Jasmina Ognjanovic, Vladimir Dzenopoljac and Stefano Cavagnetto
The study aims to assess the relative impact of intellectual capital (IC) as opposed to tangible assets on profitability and employee performance in hotels in Serbia before and…
Abstract
Purpose
The study aims to assess the relative impact of intellectual capital (IC) as opposed to tangible assets on profitability and employee performance in hotels in Serbia before and during the coronavirus disease 2019 (COVID-19) pandemic.
Design/methodology/approach
The current study was undertaken in 2019, the year before COVID-19, and 2020, the year of COVID-19's major impact. This study utilizes the Value-Added Intellectual Coefficient (VAIC) as a measure of efficient use of IC. Financial data were collected from 163 hotels in Serbia. Structural equation modeling (SEM) was used to test the proposed hypotheses.
Findings
The results revealed that IC was a relevant factor for both profitability and employee performance before and during the COVID-19. However, the study reveals a negative moderating effect of tangible capital efficiency (TCE), meaning that with the increase of TCE, the relationship between IC and performance becomes weaker.
Research limitations/implications
The main limitation of the study is rooted in VAIC's ability to fully incorporate all elements of IC, leaving the relational capital out.
Practical implications
To achieve better performance, hotel management should direct resources more towards IC and less toward tangible assets, which implies doing more with less.
Originality/value
The results indicate the importance of IC in a period of crisis for the industry and economy that are not recognized as knowledge intensive. To the best of the authors' knowledge, no other study has attempted to assess the relative contribution of tangible assets and IC before and during the COVID-19 pandemic.
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R S Velmurugan and Tarun Dhingra
This paper aims to synthesize and categorize the published literatures related to maintenance strategies formulation, selection and implementation in various industries. The…
Abstract
Purpose
This paper aims to synthesize and categorize the published literatures related to maintenance strategies formulation, selection and implementation in various industries. The purpose of this paper is to develop a conceptual framework based on literature review for formulation of maintenance strategies, selection and the implementation of selected strategies. Further, to study on impact of maintenance strategies implementation in maintenance function.
Design/methodology/approach
A literature review has been carried out to identify the existing frameworks related to maintenance strategies formulation, selection of maintenance strategy and implementation of maintenance strategy in the industry. Literature support for all the conceptual constructs referred in the framework has been discussed to establish a logical sequence.
Findings
A conceptual framework for maintenance strategies formulation, selection and implementation and its impact in maintenance function has been developed. Further, constructs and sub-constructs which form the basis for maintenance strategies formulation, selection and implementation have been identified from the literatures. In addition, propositions have also been formulated to support the conceptual framework and these propositions provide the logical relationship among the maintenance strategies formulation, selection among the formulated strategies and the implementation of these strategies.
Research limitations/implications
The conceptual framework developed in this paper for maintenance strategy formulation and selection is yet to be empirically tested. The proposed framework can be tested in various industries.
Practical implications
Literature study on maintenance strategy formulation and selection has so far been very limited. Maintenance strategy selection is a critical decision-making problem for the maintenance managers working in the process plant, manufacturing companies, etc. The conceptual framework proposed in this paper will help maintenance managers to asses, formulate, select suitable maintenance strategy and implement for their organization.
Originality/value
The paper provides comprehensive study on maintenance strategy problem which will be useful to researchers, maintenance managers and other professionals in various industries such as process industry, manufacturing industry, etc., to understand maintenance strategy selection problem and implementation of maintenance strategy.
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