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1 – 10 of over 2000
Open Access
Article
Publication date: 26 March 2024

Manuel Rossetti, Juliana Bright, Andrew Freeman, Anna Lee and Anthony Parrish

This paper is motivated by the need to assess the risk profiles associated with the substantial number of items within military supply chains. The scale of supply chain management…

Abstract

Purpose

This paper is motivated by the need to assess the risk profiles associated with the substantial number of items within military supply chains. The scale of supply chain management processes creates difficulties in both the complexity of the analysis and in performing risk assessments that are based on the manual (human analyst) assessment methods. Thus, analysts require methods that can be automated and that can incorporate on-going operational data on a regular basis.

Design/methodology/approach

The approach taken to address the identification of supply chain risk within an operational setting is based on aspects of multiobjective decision analysis (MODA). The approach constructs a risk and importance index for supply chain elements based on operational data. These indices are commensurate in value, leading to interpretable measures for decision-making.

Findings

Risk and importance indices were developed for the analysis of items within an example supply chain. Using the data on items, individual MODA models were formed and demonstrated using a prototype tool.

Originality/value

To better prepare risk mitigation strategies, analysts require the ability to identify potential sources of risk, especially in times of disruption such as natural disasters.

Details

Journal of Defense Analytics and Logistics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2399-6439

Keywords

Article
Publication date: 28 March 2024

Nikesh Nayak, Pushpesh Pant, Sarada Prasad Sarmah and Raj Tulshan

Logistics sector is recognized as one of the core enablers of the economic development of a nation. However, inefficiency in logistics operations impedes the achievement of…

Abstract

Purpose

Logistics sector is recognized as one of the core enablers of the economic development of a nation. However, inefficiency in logistics operations impedes the achievement of intended targets by increasing the cost of doing business. Also, it is difficult to improve the efficiency of a country’s logistics operations without a metric for evaluating and understanding logistics capabilities and efficiency. Therefore, the present study has developed In-country Logistics Performance Index (ILP Index) to propose a benchmarking tool to measure the in-country logistics competitiveness, particularly in the setting of emerging economies, i.e. India.

Design/methodology/approach

This study has developed a unified index using principal component analysis and quintile approach. In addition, the proposed index relies on several dimensions that are developed and illustrated using quantitative secondary panel data.

Findings

The findings of this study reveal that the quality of infrastructure, economy, and telecommunications are the three most important dimensions that may significantly support the growth of the transportation and logistics sector. The results reveal that Gujarat, Tamil Nadu, and Maharashtra are the top performers whereas, Bihar, Jharkhand, and Jammu and Kashmir scores the least due to the insufficient logistics infrastructure as compared to other Indian states.

Originality/value

Given the extensive focus on international-level logistics index (like World Bank’s LPI) in the existing literature, this study intends to develop in-country logistics index to evaluate the logistics capabilities at the regional and state level. In addition, unlike prior studies, this study utilizes quantitative secondary data to eliminate cognitive and opinion bias. Moreover, this benchmarking tool would assist decision-makers in idealizing standard practices toward sustainable logistics operations. Additionally, the ILP index could serve the international investors in crucial decision-making, as it provides valuable insights into a country’s logistics readiness, influencing their investment choices and trade preferences. Finally, the proposed approach is adaptable to measuring the overall performance of any other industry/economy.

Details

International Journal of Productivity and Performance Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1741-0401

Keywords

Article
Publication date: 7 March 2024

Karan Raj and Devashish Sharma

The purpose of this study is to construct a new index to assess the impact of an energy price shock on macroeconomic indicators of India. This paper also shows a comparative…

Abstract

Purpose

The purpose of this study is to construct a new index to assess the impact of an energy price shock on macroeconomic indicators of India. This paper also shows a comparative analysis of the constructed index along with pre-existing World Bank and International Monetary Fund indices on energy.

Design/methodology/approach

This paper uses three vector autoregressions and compute the long-term impact of the indices on the considered macroeconomic variables through impulse response functions.

Findings

This paper finds that an energy price shock has a detrimental impact on the macroeconomic indicators of India in the long run. This study also finds that the constructed index acts as a relatively more sensitive index in comparison to the International Monetary Fund and World Bank indices, which is bespoke to a developing economy case. This sensitivity is ascribed to dynamic weighting for a different basket of energy components, which are more pertinent to an Indian context.

Originality/value

The novelty of this research lies in the construction of a new index and its comparison to the existing ones. This study justifies why a developing economy would require a different measure of energy as opposed to the existing indices.

Details

International Journal of Energy Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 23 January 2024

Hugo Alvarez-Perez, Regina Diaz-Crespo and Luis Gutierrez-Fernandez

This study aims to examine the performance of environmental, social and governance (ESG) equity indices in Latin America (LA), evaluating their risk-return characteristics in…

Abstract

Purpose

This study aims to examine the performance of environmental, social and governance (ESG) equity indices in Latin America (LA), evaluating their risk-return characteristics in comparison to conventional benchmark indices.

Design/methodology/approach

Using a quantitative empirical approach, the authors analyze ESG equity indices from Brazil, Mexico, Chile, Peru and Colombia, employing metrics such as Sharpe, Sortino and Omega ratios to measure risk-adjusted returns. Regression analysis is employed to assess the replicability of ESG indices by benchmark indices. Monte Carlo simulations are conducted to explore the potential increase in risk-adjusted returns when ESG equity indices are incorporated into portfolios.

Findings

The study addresses critical questions for investors: Can ESG indices outperform their benchmarks? Can these ESG indices be replicated by benchmark counterparts? Do ESG equity indices enhance portfolio diversification? The findings reveal that investing in ESG indices has the potential to enhance risk-adjusted returns and portfolio diversification.

Research limitations/implications

While this study focuses on various LA economies, it’s important to note variations in currency and volatility.

Practical implications

For investors in LA, this study highlights the importance of considering ESG indices as part of their investment strategies. While not all ESG indices outperform conventional ones, some may improve diversification and risk-adjusted performance. Investors should carefully assess market-specific conditions and national factors when making investment decisions.

Originality/value

The primary contribution of this study is its focus on LA countries in the examination of diverse portfolios. The research provides valuable insights into the performance of ESG indices in this region compared to conventional benchmark indices. This approach addresses an important gap in the existing literature and offers a more comprehensive perspective on ESG investing and portfolio diversification.

Propósito

Se examina el rendimiento de los índices-ESG en América Latina (AL), evaluando sus características de riesgo y retorno en comparación con los índices convencionales.

Diseño/metodología/enfoque:

Utilizando un enfoque cuantitativo, analizamos los índices-ESG de Brasil, México, Chile, Perú y Colombia, empleando ratios de Sharpe, Sortino y Omega para medir los rendimientos ajustados al riesgo. Se utiliza análisis de regresión para evaluar la replicabilidad de los índices-ESG por parte de los índices de referencia. Se realizan simulaciones de Monte-Carlo para explorar el aumento en los rendimientos ajustados al riesgo cuando se incorporan los índices-ESG en las carteras.

Hallazgos:

El estudio aborda preguntas críticas: ¿Pueden los índices-ESG superar a sus índices de referencia? ¿Pueden estos índices-ESG ser replicados por sus contrapartes de referencia? ¿Mejoran los índices-ESG la diversificación de las carteras? Los hallazgos revelan que la inversión en índices-ESG tiene el potential de mejorar los rendimientos y la diversificación de las carteras de inversión.

Limitaciones/implicaciones de la investigación –

Aunque este estudio se centra en diversas economías de AL, es importante tener en cuenta variaciones en moneda y volatilidad.

Originalidad/valor:

La principal contribución de este estudio radica en su enfoque en países de AL en el examen de carteras diversas; ofrece valiosos conocimientos sobre el rendimiento de los índices-ESG en esta región en comparación con los índices convencionales.

Abstract

Details

Understanding Intercultural Interaction: An Analysis of Key Concepts, 2nd Edition
Type: Book
ISBN: 978-1-83753-438-8

Article
Publication date: 20 October 2023

Kuldeep Singh

Environmental, social and governance (ESG) issues have become the cornerstone of investment decisions in firms today. With that, publicly traded ESG indices (like the BSE ESG 100…

Abstract

Purpose

Environmental, social and governance (ESG) issues have become the cornerstone of investment decisions in firms today. With that, publicly traded ESG indices (like the BSE ESG 100 index in India) have come into existence. The existing literature signifies that ESG generates financial implications and induces stability. The current study aims to test whether the firms listed on the ESG index (ESG-sensitive firms) face less financial distress than those not listed on such an index.

Design/methodology/approach

The study applies panel data difference-in-differences (DID) regression by considering ESG as an unstaggered treatment to 74 non-financial firms listed on India's Bombay Stock Exchanges (BSE) 100 index. In total, 42 firms are ESG treated as they got listed on the BSE ESG 100 index, formed in 2017. The remaining 32 firms form the control group. The confidence intervals and standard errors are estimated using clustered robust errors and the Donald and Lang method.

Findings

Listing on the ESG index matters for financial stability; differences in financial distress are significant on financial distress. ESG-sensitive firms face less financial distress than non-ESG firms (or firms not perceived as ESG-sensitive). The results are consistent across two financial distress measures, Altman z-scores for emerged and emerging markets. Thus, the DID in distress status between ESG-sensitive and non-ESG firms matter.

Practical implications

The study creates vibrant implications for practitioners using ESG to reduce financial distress.

Originality/value

The study is one of its kind to test the treatment effects of ESG on firm value and quantify treatment effects on financial distress.

Details

Asian Review of Accounting, vol. 32 no. 2
Type: Research Article
ISSN: 1321-7348

Keywords

Article
Publication date: 15 March 2024

Mohamed Slamani, Hocine Makri, Aissa Boudilmi, Ilian A. Bonev and Jean-Francois Chatelain

This research paper aims to optimize the calibration process for an ABB IRB 120 robot, specifically for robotic orbital milling applications, by introducing and validating the use…

Abstract

Purpose

This research paper aims to optimize the calibration process for an ABB IRB 120 robot, specifically for robotic orbital milling applications, by introducing and validating the use of the observability index and telescopic ballbar for accuracy enhancement.

Design/methodology/approach

The study uses the telescopic ballbar and an observability index for the calibration of an ABB IRB 120 robot, focusing on robotic orbital milling. Comparative simulation analysis selects the O3 index. Experimental tests, both static and dynamic, evaluate the proposed calibration approach within the robot’s workspace.

Findings

The proposed calibration approach significantly reduces circularity errors, particularly in robotic orbital milling, showcasing effectiveness in both static and dynamic modes at various tool center point speeds.

Research limitations/implications

The study focuses on a specific robot model and application (robotic orbital milling), limiting generalizability. Further research could explore diverse robot models and applications.

Practical implications

The findings offer practical benefits by enhancing the accuracy of robotic systems, particularly in precision tasks like orbital milling, providing a valuable calibration method.

Social implications

While primarily technological, improved robotic precision can have social implications, potentially influencing fields where robotic applications are crucial, such as manufacturing and automation.

Originality/value

This study’s distinctiveness lies in advancing the accuracy and precision of industrial robots during circular motions, specifically tailored for orbital milling applications. The innovative approach synergistically uses the observability index and telescopic ballbar to achieve these objectives.

Details

Industrial Robot: the international journal of robotics research and application, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0143-991X

Keywords

Article
Publication date: 26 June 2023

Athanasios Tsagkanos, Dimitrios Koumanakos and Michalis Pavlakis

The purpose of this study is to examine the transmission of volatility between business confidence index and stock market indices in Greece. The country remains the riskiest…

Abstract

Purpose

The purpose of this study is to examine the transmission of volatility between business confidence index and stock market indices in Greece. The country remains the riskiest project in European Union (EU) and previous studies fail to reach an accurate conclusion regarding the direction of this transmission.

Design/methodology/approach

The study covers the period from January 2013 to August 2022 in monthly basis where important economic events occur. Considering that these economic events derive strong volatility moments, the authors adopt a new methodology that measures the transmission of volatility with higher precision. This is the generalized spillover analysis by Diebold and Yilmaz (2009, 2012).

Findings

The results indicate that Business Confidence Index (BCI) is the main receiver of volatility spillovers in Greece under all aspects of the used methodology. The specificity of the results shows that business activity through a green growth model is what drives investor confidence and then their activities.

Originality/value

Although a handful of studies have considered the transmission of volatility between BCI and stock market indices, this study contributes in several ways. This study focuses on one country (Greece), avoiding the dispersion of the results from the examination of the relationship in several countries. The used country remains the riskiest project in EU even nowadays, while other studies fail to confirm the main direction of volatility spillovers from business confidence to stock returns. This study covers a period that is ignored by previous studies and includes important economic events. In addition, considering that these economic events derive strong volatility moments, a new methodology is adopted in this field of research that measures the transmission of volatility with higher accuracy.

Details

Journal of Economic Studies, vol. 51 no. 2
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 18 July 2023

Ernest N. Biktimirov and Yuanbin Xu

The purpose of this study is to compare market reactions to the change in the demand by index funds between large and small company stocks by examining the transition of the S&P…

Abstract

Purpose

The purpose of this study is to compare market reactions to the change in the demand by index funds between large and small company stocks by examining the transition of the S&P 500, S&P 400 MidCap and S&P 600 SmallCap indexes from market capitalization to free-float weighting. This unique information-free event allows not only avoiding confounding information signaling and investor awareness effects but also comparing the effect of the decrease in demand on stocks of different sizes.

Design/methodology/approach

This study uses the event study methodology to calculate abnormal returns and trading volume around the full-float adjustment day. It also tests for significant changes in institutional ownership and liquidity. Multivariate regressions are used to examine the relation of liquidity changes and price elasticity of demand to the cumulative abnormal returns around the full-float adjustment day.

Findings

This study finds significant decreases in stock price accompanied with significant increases in trading volume on the full-float adjustment day, and significant gains in quasi-indexer institutional ownership and liquidity. The main finding is that cumulative abnormal returns around the event period are related to changes in the number of quasi-indexer and transient institutional shareholders, not to changes in liquidity or price elasticity of demand.

Originality/value

This study provides the first comprehensive comparison analysis of stock market reactions to the decline in demand between large and small company stocks. As an important implication for future studies of the index effect, changes in institutional ownership should be considered in the analysis.

Details

International Journal of Managerial Finance, vol. 20 no. 2
Type: Research Article
ISSN: 1743-9132

Keywords

Article
Publication date: 28 April 2023

Bashayer Merdef AlQashouti and Nasim Shah Shirazi

The purpose of this paper is to conduct a systematic literature review of research conducted in the economic Islamicity (EI) index field, in terms of non-Islamic countries.

Abstract

Purpose

The purpose of this paper is to conduct a systematic literature review of research conducted in the economic Islamicity (EI) index field, in terms of non-Islamic countries.

Design/methodology/approach

This study thoroughly assessed the literature on the EI index by conducting extensive systematic literature reviews.

Findings

The critical analysis of these indices shows the need for amendments, which can be achieved by improving the Islamicity index seen in non-Islamic countries. This step will help validate the Islamicity index assessment and help Islamic countries develop and strengthen Islamic economic values.

Originality/value

As the first comprehensive literature review in the Islamicity indices domain to the best of the authors’ knowledge, this research may contribute for Islamic country to increase the Islamicity index in terms of economic issue for future research themes.

Details

Journal of Islamic Accounting and Business Research, vol. 15 no. 2
Type: Research Article
ISSN: 1759-0817

Keywords

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