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The purpose of this paper is to draw a metaphorical parallel between a pilot in the cockpit of the latest, ultra‐modern US fighter F22 and that of a chief executive officer (CEO) managing his corporation in responding to global competitive challenges.

This paper is inspired by the embedded, “system of systems (SoS) thinking” in the text of the very ancient Chinese Art of War by Sun Tzu. The approach here is to illustrate how such a 2,500‐year‐old thinking may be applied through the emerging discipline of SoS. For designing a CEO‐responsive, informative system, the innovations in designing the cockpit for a pilot in the latest US fighter jet, F22, is utilized.

Today's corporate world management has, in the past, drawn heavily from the military (for example, operations research). Whilst there is a vast difference between the pilot's cockpit in an F22 and the lap‐top of the CEO, the need for deadly accurate, often reflexive decisions is the same. It is becoming a fact of business life that speed of deadly accurate responses is necessary to ensure the survival of corporations, especially for firms operating in rapidly changing technologies, or top executives who have to cope effectively with informatively intensive yet fast changing environments, such as in the financial markets.

This paper illustrates how it is still possible for managers to draw inspirations in designing corporate systems through examples taken from the military. Sun Tzu drew inspirations on organizing for flexibility by observing and thus grasping the essential nature of water. Similarly, it may be useful to draw parallels in innovative design of an F22 pilot's cockpit for the CEO or managers having to make fast yet deadly responses.

The purpose of this paper is to develop a data system to assess failure probability in small to medium‐sized enterprise (SME) reorganization.

The data system is based on information from 83 reorganized Finnish SMEs. Information is divided into four types: pre‐filing non‐financial, pre‐filing financial, reorganization submission, and reorganization plan information. Partial least squares (PLS) analysis is used in data mining to factorize information for each type of information. Logistic regression analysis is applied to assess failure probability.

Useful data system can be developed on the basis of pre‐filing non‐financial information to support reorganization decision. Pre‐filing financial information only marginally improves quality of information. Submission and reorganization plan information improve quality in terms of fit but do not significantly improve classification accuracy.

The sample is small and should be expanded in further studies. The system is developed for Finnish reorganizing firms. It can be generalized to any similar reorganization process.

The data system is useful for managers, lending specialists, investors, reorganization lawyers, and judges. It warns a SME about reorganization failure before filing petition (passive use). It is also useful in developing successful reorganization plans (active use).

This paper builds an extensive data system for assessing reorganization failure risk. It makes use of many variables that have not been analyzed in reorganization studies earlier. It deals with SMEs that is rare in reorganization studies. The paper utilizes PLS in assessing failure probability. It includes new analytical results on PLS.

This study aims to develop cause-and-effect relationships among the critical success factors (CSFs) of fintech adoption and rank these CSFs based on their importance in the model.

To achieve the objectives of the study, the Fuzzy Decision-Making Trial and Evaluation Laboratory (FDEMATEL) approach was used. The data was collected from 16 experts using a questionnaire.

The findings demonstrated the interrelationships among the CSFs. In total, 16 critical factors were recognized as causal factors, and the remaining eight were considered effect factors. The CSFs were ranked based on their importance in fintech adoption.

This study is novel as it investigates CSFs of fintech adoption using FDEMATEL, and it contributes to understanding the nature of these factors and how they affect fintech adoption. The findings propose a significant basis to deepen fintech adoption and deliver a clue to design a practical framework for fintech adoption.

On the example of professional football in Germany, this paper analyses the conflict about the punishment of fan misbehaviour within an agency-theoretical framework to cast light on the reasons for the ineffectiveness of the sentences and to show possible solutions.

In a pre-study, more than 1,300 hand-collected past sentences against clubs by the German and European sports courts were analysed to demonstrate the ineffectiveness of the penalties so far. Additionally, in the main study, 26 expert interviews with German representatives of the football association, courts, clubs, sponsors, police and active fan scenes allow a deep insight into the relationships of the involved parties.

The paper suggests that the sentences do not sufficiently consider several agency problems. Due to moral hazard, they exert hardly any influence on fan behaviour and only a small one on the clubs. While the lighting of pyrotechnics is by far the most punished type of misbehaviour, most of the interviewees cite the impossibility of preventing it. Despite the sentences, some clubs make non-public agreements with their fans about still tolerable misconduct or do not pass the penalties on to the polluters as intended by the association. The findings highlight the importance of communication for less misbehaviour.

For the first time, the agency theory and the economic theory of optimal punishment are brought together with insights from interviews with the involved parties. The authors discover a two-stage principal-agent problem and get new insights into stakeholders' hidden motivations and attitudes. The results should encourage a debate on the current penalties and possible solutions to the recurring problem of pyrotechnics.

We examine the effect of borrowing constraint facing new immigrants on the process of their assimilation in the new society. We shall do so in a two-period model. In period 1, immigrants invest, with some costs to them, in trying to assimilate. The probability of success in this endeavor depends on the amount invested and also on the level of the provision of a “public” good paid for by lump-sum taxation of “natives”. Those who succeed enjoy a higher level of productivity and therefore wages in period 2. The level of investment is endogenously determined. Assimilation also affects remittances by immigrants. Given this framework, we examine the effect of public support on the degree of assimilation and income repatriation. We do so under two scenarios regarding the credit market facing new immigrants. In the first, they can borrow as much as they want in period 1 at an exogenously given interest rate. In the second scenarios, there is a binding borrowing constraint. We compare the equilibrium under the two scenarios.

Levels of selected essential and non‐essential metals (Cd, Cr, Pb, Cu, Fe and Zn) and those of macro‐nutrients (Ca, K, Mg and Na) are estimated in 15 different seasonal fruits available in local Pakistan markets. The wet digestion oxidation method was used for the analysis of samples by the flame atomic absorption technique. The results indicated almost 100 percent incidence of occurrence of trace metals and macro‐nutrients in all fruits. The highest concentration was observed for zinc, ranging between 0.13 and 79.9mg/kg, wet weight, respectively for banana and mango. The iron levels ranged from 0.55 to 44.8mg/kg, wet weight, for pomegranate and mango. The concentrations of Cd, Cr, Pb and Cu remained at marginal levels, except for certain fruits where the concentrations were very high. The data are compared with allowed safe limits laid down by WHO.

Gaussian copula is by far the most popular copula used in the financial industry in default dependency modeling. However, it has a major drawback – it does not exhibit tail dependence, a very important property for copula. The essence of tail dependence is the interdependence when extreme events occur, say, defaults of corporate bonds. In this paper, we show that some tail dependence can be restored by introducing stochastic volatility on a Gaussian copula. Using perturbation methods we then derive an approximate copula – called perturbed Gaussian copula in this paper.

Prefabricated construction (PC) can benefit construction industry due to its high efficiency, energy saving, consumption reduction and safety. However, the high capital cost is a critical challenge hindering its development in China. The collaboration of PC stakeholders is conducive to improving cost management efficiency and optimizing resource allocation which has been ignored in previous studies. Therefore, this study aims to explore the collaboration paths of stakeholders in the process of solving critical cost influencing factors (CIFs) of PC to reduce costs.

Firstly, 25 CIFs and five main stakeholders that affect PC capital cost were identified through literature research and expert interviews. Then, questionnaires were used to investigate the relationship between stakeholders and CIFs from the perspectives of three stakeholder attributes of proximity, attitude and power, respectively. Finally, based on the survey data, three stakeholder-CIF networks from three attributes perspective and a comprehensive network were constructed and used for subsequent social network analysis.

(1) Stakeholders mainly show willingness and potential to collaborate on organization and management factors; (2) More stakeholders pay attention to incentive policies and the setting of prefabrication rates and assembly rates, while all stakeholders have the right to facilitate information and resource sharing in the PC supply chain; (3) The comprehensive network shows a core-periphery structure. As core stakeholders, contractor, designer and manufacturer are more likely to actively manage the 14 core CIFs.

This paper innovatively combined stakeholder and cost management in PC, and used two-mode network based on three stakeholder perspectives to reveal the collaboration potential and motivation of stakeholders in PC cost management. The findings not only provide guidance for stakeholders to find potential partners and optimize resource allocation in solving specific cost issues, but also facilitate stakeholders' sustainable collaboration to achieve PC's cost performance.

Flights are often delayed owing to emergencies. This paper proposes a cooperative slot secondary assignment (CSSA) model based on a collaborative decision-making (CDM) mechanism, and the operation mode of flight waves designs an improved intelligent algorithm to solve the optimal flight plan and minimize the total delay of passenger time.

Taking passenger delays, transfer delays and flight cancellation delays into account comprehensively, the total delay time is minimized as the objective function. The model is verified by a linear solver and compared with the first come first service (FCFS) method to prove the effectiveness of the method. An improved adaptive partheno-genetic algorithm (IAPGA) using hierarchical serial number coding was designed, combining elite and roulette strategies to find pareto solutions.

Comparing and analyzing the experimental results of various scale examples, the optimization model in this paper is greatly optimized compared to the FCFS method in terms of total delay time, and the IAPGA algorithm is better than the algorithm before in terms of solution performance and solution set quality.

Based on the actual situation, this paper considers the operation mode of flight waves. In addition, the flight plan solved by the model can be guaranteed in terms of feasibility and effectiveness, which can provide airlines with reasonable decision-making opinions when reassigning slot resources.