Search results

1 – 10 of over 137000
Article
Publication date: 21 August 2002

Jing Sun

Process capability indices as an important kind of indices are intended to provide single‐number assessments of the inherent process capability to meet specification…

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.

Details

Asian Journal on Quality, vol. 3 no. 2
Type: Research Article
ISSN: 1598-2688

Keywords

Book part
Publication date: 20 May 2019

Salman Ahmed Shaikh, Abdul Ghafar Ismail and Mohd Adib Ismail

Muslim investors must comply with the ethical injunctions prescribed for them while making financial investments. As per Islamic principles, the use of Riba (interest)…

Abstract

Muslim investors must comply with the ethical injunctions prescribed for them while making financial investments. As per Islamic principles, the use of Riba (interest), Maysir (gambling) and Gharar (uncertain or contingent payoff contracts) is prohibited. This chapter provides some recent post great financial crisis evidence on the comparative performance of Islamic and conventional market indices. Islamic indices outperformed conventional market indices in terms of annualized returns except for emerging markets. In the overall period of 2007-16, it is found that Islamic indices have a lower coefficient of variation and hence higher reward to variability ratio. This suggests that Islamic indices are superior to conventional market indices adjusting for variability in returns. In most comparable Islamic and conventional indices, a strong co-movement and long-term co-integrating relationship is found. The results also highlighted causality running from conventional indices to the Islamic indices in most of the market groups, except for the S&P Global.

Details

Research in Corporate and Shari’ah Governance in the Muslim World: Theory and Practice
Type: Book
ISBN: 978-1-78973-007-4

Keywords

Book part
Publication date: 10 October 2017

Gaston Yalonetzky

The relative bipolarisation literature features examples of indices which depend on the median of the distribution, including the renowned Foster–Wolfson index. This study…

Abstract

The relative bipolarisation literature features examples of indices which depend on the median of the distribution, including the renowned Foster–Wolfson index. This study shows that the use of the median in the design and computation of relative bipolarisation indices is both unnecessary and problematic. It is unnecessary because we can rely on existing well-behaved, median-independent indices. It is problematic because, as the study shows, median-dependent indices violate the basic transfer axioms of bipolarisation (defining spread and clustering properties), except when the median is unaffected by the transfers. The convenience of discarding the median from index computations is further illustrated with a numerical example in which median-independent indices rank distributions according to the basic transfer axioms while median-dependent indices do not.

Details

Research on Economic Inequality
Type: Book
ISBN: 978-1-78714-521-4

Keywords

Article
Publication date: 17 January 2023

Doron Nisani, Amit Shelef and Or David

The purpose of this study is to estimate the convergence order of the Aumann–Serrano Riskiness Index.

Abstract

Purpose

The purpose of this study is to estimate the convergence order of the Aumann–Serrano Riskiness Index.

Design/methodology/approach

This study uses the equivalent relation between the Aumann–Serrano Riskiness Index and the moment generating function and aggregately compares between each two statistical moments for statistical significance. Thus, this study enables to find the convergence order of the index to its stable value.

Findings

This study finds that the first-best estimation of the Aumann–Serrano Riskiness Index is reached in no less than its seventh statistical moment. However, this study also finds that its second-best approximation could be achieved with its second statistical moment.

Research limitations/implications

The implications of this research support the standard deviation as a statistically sufficient approximation of Aumann–Serrano Riskiness Index, thus strengthening the CAPM methodology for asset pricing in the financial markets.

Originality/value

This research sheds a new light, both in theory and in practice, on understanding of the risk’s structure, as it may improve accuracy of asset pricing.

Article
Publication date: 12 January 2023

Slah Bahloul, Mourad Mroua and Nader Naifar

This paper aims to investigate the hedge, safe-haven and diversifier properties of Islamic indexes, Bitcoin and gold for ten of the most affected countries by the…

Abstract

Purpose

This paper aims to investigate the hedge, safe-haven and diversifier properties of Islamic indexes, Bitcoin and gold for ten of the most affected countries by the coronavirus, which are the USA, Brazil, the UK, Italy, Spain, Germany, France, Russia, China and Malaysia.

Design/methodology/approach

This research uses the Ratner and Chiu (2013) methodology based on the dynamic conditional correlation models to improve Baur and McDermott (2010). The authors adopt a careful investigation of the features of a diversifier, hedge and safe haven using the dynamic conditional correlation–GARCH and quantile regression models.

Findings

Empirical results indicate that Islamic indexes are not considered as hedge assets for the conventional market for all studied countries during the COVID-19 pandemic crisis period. However, gold works as a strong hedge in all countries, except for Brazil and Malaysia. Bitcoin is a strong hedge in the USA and a strong hedge and safe haven in China.

Practical implications

International investors in China and the US stock markets should replace Islamic ‎indexes with Bitcoin in their conventional portfolio of securities during the pandemic.

Originality/value

To the best of the authors’ knowledge, this is the first paper that re-evaluates the hedge, safe-haven and diversifier properties of Islamic indexes, Bitcoin and gold for ten of the most affected countries by the coronavirus.

Details

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

Keywords

Article
Publication date: 19 December 2022

Xiaojie Xu and Yun Zhang

Understandings of house prices and their interrelationships have undoubtedly drawn a great amount of attention from various market participants. This study aims to…

Abstract

Purpose

Understandings of house prices and their interrelationships have undoubtedly drawn a great amount of attention from various market participants. This study aims to investigate the monthly newly-built residential house price indices of seventy Chinese cities during a 10-year period spanning January 2011–December 2020 for understandings of issues related to their interdependence and synchronizations.

Design/methodology/approach

Analysis here is facilitated through network analysis together with topological and hierarchical characterizations of price comovements.

Findings

This study determines eight sectoral groups of cities whose house price indices are directly connected and the price synchronization within each group is higher than that at the national level, although each shows rather idiosyncratic patterns. Degrees of house price comovements are generally lower starting from 2018 at the national level and for the eight sectoral groups. Similarly, this study finds that the synchronization intensity associated with the house price index of each city generally switches to a lower level starting from early 2019.

Originality/value

Results here should be of use to policy design and analysis aiming at housing market evaluations and monitoring.

Details

International Journal of Housing Markets and Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 22 December 2022

Kirti Sood, Kumar Arijit, Prachi Pathak and H.C. Purohit

This paper aims to empirically examine the performance of the high-ESG (environment, social and governance) portfolio vis-à-vis the low-ESG portfolio at the Indian stock…

Abstract

Purpose

This paper aims to empirically examine the performance of the high-ESG (environment, social and governance) portfolio vis-à-vis the low-ESG portfolio at the Indian stock market before and during the Covid19 pandemic.

Design/methodology/approach

The absolute rate of return and several risk-adjusted performance measures, for instance, Sharpe ratio, Modigliani–Modigliani measure, Treynor ratio, Jensen’s alpha, information ratio, Fama’s decomposition measure and Fama and French’s three-factor model, have been used in this study along with the t-test.

Findings

All three indices (CARBONEX, GREENEX and BSE 500) had better returns during Covid19 period as compared to the pre-Covid19 period. However, these returns were not statistically significant. During Covid19, the risk of the indices also rose, but they provided better returns for the additional risk taken. Finally, it is concluded that the performance of high-ESG and low-ESG stock portfolios did not differ significantly in both periods.

Practical implications

The study is relevant to individual and institutional investors, financial advisors, portfolio managers, corporations, policymakers, market regulators and society at large.

Social implications

This study emphasized the need to expand the role of ESG investment in India for the benefit of people, communities and society as a whole.

Originality/value

This research is the first of its kind, to the best of the authors’ knowledge, that compares the performance of a high-ESG portfolio with a low-ESG portfolio both before and during the Covid19, particularly in the Indian context.

Details

Sustainability Accounting, Management and Policy Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-8021

Keywords

Article
Publication date: 9 January 2023

Xie Hui and Zhang Kexin

Due to consumption changes in the post-pandemic era, the production safety of agricultural products is affecting global consumers. This paper constructs an evaluation index

Abstract

Purpose

Due to consumption changes in the post-pandemic era, the production safety of agricultural products is affecting global consumers. This paper constructs an evaluation index of the agricultural Internet of things (IOT) traceability system and evaluates it using the dynamic hesitant-fuzzy linguistic term sets (HFLTS)-based DEMATEL method to improve agricultural supply-chain links and improve production quality.

Design/methodology/approach

The agricultural IOT traceability index system is constructed using the literature and expert interviews; it comprises 6 first-level indices and 20 second-level indices. The agricultural IOT traceability system is evaluated using the dynamic HFLTS-DEMATEL method.

Findings

Producers' awareness of agricultural-production safety (A11) has the most significant impact on production and processing links, while warehouse location and storage capacity (A31) have the largest impact on the circulation link. Inspection authenticity and transparency and quarantine information (A41) have the largest impact on the detection-consumption link. The extent to which the traceability-platform construction is complete (A62) has the largest impact on technical support.

Research limitations/implications

The present paper may be limited to the era of post-pandemic, and it is hard to consider all the indices. Further research can broaden the research context and establish a more comprehensive index system.

Practical implications

The index system constructed in this study will surely help relevant regulatory authorities in China to promote the construction of agricultural IOT traceability system and establish a unified standard, so as to provide a basis for future developers to enter the field. Accordingly, it also can help every subject to identify the key indices of each process in the agricultural-product supply chain and guide relevant departments to conduct targeted information tracking and management. The consumers could also understand the standards of traceable agricultural products and effectively protect their own rights and interests.

Originality/value

The existing literature does not provide an objective, unified standard for measuring a decentralized traceability system or identifying key processes. This study therefore proposes a new evaluation index system and uses a dynamic evaluation method to determine the importance of key indices. This study identifies the most important indices in each process, making it possible to discover, improve, and enhance the quality of agricultural products at a practical level.

Details

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

Keywords

Article
Publication date: 19 December 2022

Zeliha Can Ergün, Efe Caglar Cagli and M. Banu Durukan Salı

This study aims to investigate the interconnectedness across the risk appetite of distinct investor types in Borsa Istanbul. This study also examines the causal impact of…

Abstract

Purpose

This study aims to investigate the interconnectedness across the risk appetite of distinct investor types in Borsa Istanbul. This study also examines the causal impact of global implied volatility indices on the risk appetite of these investor groups.

Design/methodology/approach

The authors use a novel time-varying frequency connectedness framework of Chatziantoniou et al. and a new time-varying Granger causality test with a recursive evolving procedure by Shi et al. over June 2008 and July 2022.

Findings

The results show a high level of interconnectedness across the risk appetite of different investor types. The sizable spillovers to domestic types of investors either occur from professional or foreign investors, indicating the long-term dominant effect of foreign and more qualified investors on the domestic investors in Borsa Istanbul. The authors provide significant evidence of causality from the global implied volatility to the Borsa Istanbul risk appetite indices, which are getting stronger after the COVID-19 outbreak.

Originality/value

Unlike the previous studies, the authors analyze the risk appetite sub-indices of various types of investors to reveal behavioral distinctions and interconnectedness across them. The authors use a novel econometric framework to assess investors’ risk appetite in different investment horizons in a time-varying system. Together with volatility index (VIX), the authors also use volatilities of oil (OVX), gold (GVZ) and currency (EVZ), considering the information transmission not only from stock markets but also energy, metals and currency markets. The present data set covers significant financial crises, socioeconomic events and the COVID-19 outbreak.

Details

Studies in Economics and Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1086-7376

Keywords

Article
Publication date: 13 December 2022

Zhenhua Luo, Juntao Guo, Jianqiang Han and Yuhong Wang

Prefabricated technology is gradually being applied to the construction of subway stations due to its characteristic of mechanization. However, the prefabricated subway…

Abstract

Purpose

Prefabricated technology is gradually being applied to the construction of subway stations due to its characteristic of mechanization. However, the prefabricated subway station in China is in the initial stage of development, which is prone to construction safety issues. This study aims to evaluate the construction safety risks of prefabricated subway stations in China and formulate corresponding countermeasures to ensure construction safety.

Design/methodology/approach

A construction safety risk evaluation index system for the prefabricated subway station was established through literature research and the Delphi method. Furthermore, based on the structure entropy weight method, matter-element theory and evidence theory, a hybrid evaluation model is developed to evaluate the construction safety risks of prefabricated subway stations. The basic probability assignment (BPA) function is obtained using the matter-element theory, the index weight is calculated using the structure entropy weight method to modify the BPA function and the risk evaluation level is determined using the evidence theory. Finally, the reliability and applicability of the evaluation model are verified with a case study of a prefabricated subway station project in China.

Findings

The results indicate that the level of construction safety risks in the prefabricated subway station project is relatively low. Man risk, machine risk and method risk are the key factors affecting the overall risk of the project. The evaluation results of the first-level indexes are discussed, and targeted countermeasures are proposed. Therefore, management personnel can deeply understand the construction safety risks of prefabricated subway stations.

Originality/value

This research fills the research gap in the field of construction safety risk assessment of prefabricated subway stations. The methods for construction safety risk assessment are summarized to establish a reliable hybrid evaluation model, laying the foundation for future research. Moreover, the construction safety risk evaluation index system for prefabricated subway stations is proposed, which can be adopted to guide construction safety management.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

1 – 10 of over 137000