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1 – 10 of over 124000Process capability indices as an important kind of indices are intended to provide single‐number assessments of the inherent process capability to meet specification limits on…
Abstract
Process capability indices as an important kind of indices are intended to provide single‐number assessments of the inherent process capability to meet specification limits on quality characteristic(s) of interest. In this paper the condition for the application of process capability indices is analyzed. On the basis of process capability indices, dynamic process capability indices as a new kind of indices to show the current process capability are discussed and the condition for the application of dynamic process capability indices is exhibited. Comparison between process capability index and dynamic process capability index and comparison between Dp and Dpk are made and the conclusions provide the approach for process control. According to the requirement of process capability indices provided by customer, quality control based on process capability indices dynamic process capability indices is ciscussed.
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Michael R. Rosella and Domenick Pugliese
To discuss how product innovations in exchange‐traded funds (ETFs) have blurred the line between passive and active management, and to explore the legal ramifications of these…
Abstract
Purpose
To discuss how product innovations in exchange‐traded funds (ETFs) have blurred the line between passive and active management, and to explore the legal ramifications of these developments.
Design/methodology/approach
Describes how ETFs operate and how the ETF marketplace has grown; discusses the use of broad‐based indexes for most ETFs until recently; describes newer ETFs that provide targeted exposure to narrow market segments; and discusses underlying indexes that are based on performance‐based characteristics rather than market segments, along with possible difficulties in making performance‐based criteria widely available to investors.
Findings
Historically the SEC has expressed skepticism over actively managed ETFs because of uncertainty as to whether they can provide the same portfolio transparency and arbitrage opportunity that traditional ETFs can. As “Rule Sets,” or criteria for including companies in performance indexes, become more involved and less objective, the challenge will be to ensure that sufficient arbitrage opportunities exist to ensure pricing efficiency. If that challenge can be met, it may serve as a model for a truly actively managed ETF.
Originality/value
Explains how the new generation of ETFs is coming closer to the line of active management and the legal issues that must be surmounted before truly actively managed ETFs are offered.
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I. Nel and W. de K Kruger
The purpose of this research is to determine whether the trading of equity index futures contracts on the South African Futures Exchange (SAFEX) results in an increase in the…
Abstract
The purpose of this research is to determine whether the trading of equity index futures contracts on the South African Futures Exchange (SAFEX) results in an increase in the volatility of the underlying spot indices. Since equity index futures contracts were first listed in the USA in 1975, various studies have been undertaken to determine whether the volatility of shares in the underlying indices increases as a result of the trading of such futures contracts. These studies have lead to the development of two schools of thought: [a] Trading activity in equity index futures contracts leads to an increase in the volatility of index shares. [b] Trading activity in equity index futures contracts does not lead to an increase in the volatility of the index shares and could in fact lead to greater stability in equity markets. Although some evidence of higher volatility in expiration periods was found, volatility in the expiration periods was not consistently higher than in the corresponding pre‐expiration period.
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Benzion Barlev and Shlomo Lampert
Suggests a performance index, overcoming changing economic conditions and the effect of the product life cycle, thus serving as an extra aid to management, as existing measures do…
Abstract
Suggests a performance index, overcoming changing economic conditions and the effect of the product life cycle, thus serving as an extra aid to management, as existing measures do not adequately reflect actual performance. Focuses on the performance of the marketing programme and not specific marketing activities such as advertising, sales promotions etc. Sums up that it is shown that this index incorporates aspects not taken into account in previous methods.
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Michael E. McGrath and Michael N. Romeri
Measuring the overall success of product development efforts hasbeen frustrating because there is no generally recognized metric tomeasure effectiveness. The R&D Effectiveness…
Abstract
Measuring the overall success of product development efforts has been frustrating because there is no generally recognized metric to measure effectiveness. The R&D Effectiveness Index is introduced to address this need. It measures effectiveness by comparing the profit from new products to the investment in new product development. Provides the details for calculating the index along with alternative interpretations. Finds a strong relationship between the R&D Effectiveness Index and other performance factors and argues that the R&D Effectiveness Index can be used to compare performance, measure improvement, and evalute business units. Illustrates its application in a case study.
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An automatic indexing method is described in which index tags for documents are generated by the computer. The computer scans the text of periodical articles and automatically…
Abstract
An automatic indexing method is described in which index tags for documents are generated by the computer. The computer scans the text of periodical articles and automatically assigns to them index terms with their respective weights on the basis of explicitly defined text characteristics. A machine file of document references with their associated index terms is automatically produced which can be searched on a co‐ordinate basis for the retrieval of specified drug‐related information.
This paper begins with a discussion on the need for book indexes and highlights their benefits. Indexes to symposia and reports are considered. Reasons for indexless books are…
Abstract
This paper begins with a discussion on the need for book indexes and highlights their benefits. Indexes to symposia and reports are considered. Reasons for indexless books are offered and suggestions and guidelines given for deciding whether or not a publication should have an index. Indexes for educational books are discussed. In the corporate environment indexes are recommended for brochures, training and product manuals. An evaluation is made of the benefits and qualities of competent book indexes. Types of indexes and published literature are reviewed together with the role and contribution of the Society of Indexers for training and supply of indexers to the information and publishing industries. The paper concludes with suggestions on search techniques for making best use of indexes.
Most librarians and information officers spend some part of their time using the indexes in books; only a few have direct experience of the making of such indexes, closely related…
Abstract
Most librarians and information officers spend some part of their time using the indexes in books; only a few have direct experience of the making of such indexes, closely related though the process is to the more familiar cataloguing and indexing of books and periodical articles which occur in most libraries. One novelty about the Index to the Report and to the Minutes of Evidence of the Company Law Committee (HM Stationery Office, 1962) is that it was produced by professional librarians in their normal course of duties, being one of the major products of the library staff now carrying out the Board of Trade Library's responsibility for providing indexes for certain of the Board's publications. However, the fact that it was the librarians who made this index is not enough in itself to make it interesting. The aim of this article is rather to describe the problems which arise, and some methods of dealing with them, in indexing a type of literature which is of particular importance in information work in the social sciences—the government report. So far as I know, there is no existing literature on this aspect of official publications: no literature, that is, which deals with the problems either of the specialized but non‐technological subject matter and language which characterize most fields of the social sciences, or of the complexity of arrangement, physical form, and programmes of publication which characterize major government inquiries in published form. The Company Law Committee's work was an outstanding example of its kind, and it is this which may lend interest to an account of its indexing.
Stanisław Belniak, Agnieszka Leśniak, Edyta Plebankiewicz and Krzysztof Zima
The choice of a particular architectural solution when designing a building considerably influences the costs of its construction. The aim of this paper is to present the indexes…
Abstract
Purpose
The choice of a particular architectural solution when designing a building considerably influences the costs of its construction. The aim of this paper is to present the indexes which may relate to the complexity of the building shape, and which were then specified and compared on a particular example.
Design/methodology/approach
The article analyses various indices of building shape evaluation, their influence on the changes in construction costs and their sensitivity to the changes in the dimensions of the building. The methodology adopted in this article concerns the analysis of the selected simple factors assessing the shape of the building against the cost‐effectiveness of constructing the basic elements of the building.
Findings
The authors established the best building shape in relation to the costs of constructing the walls and foundations (square), and to the layout of the inside of the building (rectangle). They believe that the best evaluations of building shape were achieved by the LBI index, which evaluated the shape correctly in all of the analysed examples and which is the most sensitive to the changes in building parameters in correct proportions to the changes in construction costs.
Originality/value
The article presents the indexes which may relate to the complexity of the building shape. The authors established the best building shape in relation to the costs of constructing. The authors provide the degree of the floor area usability in buildings of various shapes.
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Most documentation systems allocate a variable number of descriptors to their documents. From a consideration of indexing as a stochastic process it is suggested that the…
Abstract
Most documentation systems allocate a variable number of descriptors to their documents. From a consideration of indexing as a stochastic process it is suggested that the distribution of indexing depth in such a system might represent samples of a (truncated) mixed Poisson process. Examination of five different systems showed that indexing depth does appear to be distributed in this manner, since a reasonable fit to negative binomial distributions can be made statistically. Factors in the art of indexing which influence the distribution are discussed. As a first approximation the distribution of indexing depth, i, of a system, or of any subset of descriptors in it, is simple Poisson, p(i) = e−m(mi/i!), where m is the average depth of indexing. The results contradict previous reports that a log‐normal distribution of indexing depth is to be expected.