Search results

1 – 10 of over 13000
Open Access
Article
Publication date: 31 May 2023

Antti Ylä-Kujala, Damian Kedziora, Lasse Metso, Timo Kärri, Ari Happonen and Wojciech Piotrowicz

Robotic process automation (RPA) has recently emerged as a technology focusing on the automation of repetitive, frequent, voluminous and rule-based tasks. Despite a few practical…

1716

Abstract

Purpose

Robotic process automation (RPA) has recently emerged as a technology focusing on the automation of repetitive, frequent, voluminous and rule-based tasks. Despite a few practical examples that document successful RPA deployments in organizations, evidence of its economic benefits has been mostly anecdotal. The purpose of this paper is to present a step-by-step method to RPA investment appraisal and a business case demonstrating how the steps can be applied to practice.

Design/methodology/approach

The methodology relies on design science research (DSR). The step-by-step method is a design artefact that builds on the mapping of processes and modelling of the associated costs. Due to the longitudinal nature of capital investments, modelling uses discounted cashflow and present value methods. Empirical grounding characteristic to DSR is achieved by field testing the artefact.

Findings

The step-by-step method is comprised of a preparatory step, three modelling steps and a concluding step. The modelling consists of compounding the interest rate, discounting the investment costs and establishing measures for comparison. These steps were applied to seven business processes to be automated by the case company, Estate Blend. The decision to deploy RPA was found to be trivial, not only based on the initial case data, but also based on multiple sensitivity analyses that showed how resistant RPA investments are to changing circumstances.

Practical implications

By following the provided step-by-step method, executives and managers can quantify the costs and benefits of RPA. The developed method enables any organization to directly compare investment alternatives against each other and against the probable status quo where many tasks in organizations are still carried out manually with little to no automation.

Originality/value

The paper addresses a growing new domain in the field of business process management by capitalizing on DSR and modelling-based approaches to RPA investment appraisal.

Details

Business Process Management Journal, vol. 29 no. 8
Type: Research Article
ISSN: 1463-7154

Keywords

Book part
Publication date: 4 April 2024

Hsing-Hua Chang, Chen-Hsin Lai, Kuen-Liang Lin and Shih-Kuei Lin

Factor investment is booming in global asset management, especially environmental, social, and governance (ESG), dividend yield, and volatility factors. In this chapter, we use…

Abstract

Factor investment is booming in global asset management, especially environmental, social, and governance (ESG), dividend yield, and volatility factors. In this chapter, we use data from the US securities market from 2003 to 2019 to predict dividends and volatility factors through machine learning and historical data–based methods. After that, we utilize particle swarm optimization to construct the Markowitz portfolio with limits on the number of assets and weight restrictions. The empirical results show that that the prediction ability using XGBoost is superior to the historical factor investment method. Moreover, the investment performance of our portfolio with ESG, high-yield, and low-volatility factors outperforms baseline methods, especially the S&P 500 ETF.

Details

Advances in Pacific Basin Business, Economics and Finance
Type: Book
ISBN: 978-1-83753-865-2

Keywords

Article
Publication date: 11 April 2023

Zeyneb Hafsa Orhan, Sajjad Zaheer and Fatih Kazancı

This paper aims to achieve two goals: first, to evaluate the existing interest-free monetary policy tools in the major Islamic financial hubs of Malaysia, Pakistan and Bahrain…

Abstract

Purpose

This paper aims to achieve two goals: first, to evaluate the existing interest-free monetary policy tools in the major Islamic financial hubs of Malaysia, Pakistan and Bahrain and; second, to suggest how monetary policy tools in Turkey can be used in other countries.

Design/methodology/approach

This study follows a qualitative research method based on literature review, comparison, evaluation and design.

Findings

The policy rate cannot be used due to Shariah concerns. The reserve requirement depends on qard, and the reserves should be kept separately in the central bank. In terms of ijarah sukuk, Shariah concerns should be taken into account and a new structure, as displayed in Figure 3, should be followed. Government investment certificates can be used as an interest-free monetary policy tool. A genuine mudarabah interbank investments can also be used. Wadiah acceptance with no habitual gift can be used as well, and Tawarruq and central bank notes are not preferable due to Shariah concerns as well. Having said that, a Turkey-based tawarruq platform can be structured for others to use instead of applying to London.

Originality/value

This paper’s unique suggestion is to develop an interbank taqaruz market and a taqaruz method with the central bank. It is also unique for Turkey in the subject.

Details

Qualitative Research in Financial Markets, vol. 16 no. 1
Type: Research Article
ISSN: 1755-4179

Keywords

Article
Publication date: 20 December 2022

Janak Suthar, Jinil Persis and Ruchita Gupta

Foundry produces cast metal components and parts for various industries and drives manufacturing excellence all over the world. Assuring quality of these components and parts is…

Abstract

Purpose

Foundry produces cast metal components and parts for various industries and drives manufacturing excellence all over the world. Assuring quality of these components and parts is vital for the end product quality. The complexity in foundry operations increases with the complexity in designs, patterns and geometry and the quality parameters of the casting processes need to be monitored, evaluated and controlled to achieve expected quality levels.

Design/methodology/approach

The literature addresses quality improvement in foundry industry primarily focusing on surface roughness, mechanical properties, dimensional accuracy and defects in the cast parts and components which are often affected by numerous process variables. Primary data are collected from the experts working in sand and investment casting processes. The authors perform machine learning analysis of the data to model the quality parameters with appropriate process variables. Further, cluster analysis using k-means clustering method is performed to develop clusters of correlated process variables for sand and investment casting processes.

Findings

The authors identified primary process variables determining each quality parameter using machine learning approach. Quality parameters such as surface roughness, defects, mechanical properties and dimensional accuracy are represented by the identified sand-casting process variables accurately up to 83%, 83%, 100% and 83% and are represented by the identified investment-casting process variables accurately up to 100%, 67%, 67% and 100% respectively. Moreover, the prioritization of process variables in influencing the quality parameters is established which further helps the practitioners to monitor and control them within acceptable levels. Further the clusters of process variables help in analyzing their combined effect on quality parameters of casting products.

Originality/value

This study identified potential process variables and collected data from experts, researchers and practitioners on the effect of these on the quality aspects of cast products. While most of the previous studies focus on a very limited process variables for enhancing the quality characteristics of cast parts and components, this study represents each quality parameter as the function of influencing process variables which will enable the quality managers in Indian foundries to maintain capability and stability of casting processes. The models hence developed for both sand and investment casting for each quality parameter are validated with real life applications. Such studies are scarcely reported in the literature.

Details

International Journal of Quality & Reliability Management, vol. 40 no. 8
Type: Research Article
ISSN: 0265-671X

Keywords

Article
Publication date: 6 October 2022

Roman Fedorov and Dmitry Pavlyuk

Research questions: Is there a systemic relationship between different methods of screening candidates for predictive maintenance? How do the goals of a predictive project…

144

Abstract

Purpose

Research questions: Is there a systemic relationship between different methods of screening candidates for predictive maintenance? How do the goals of a predictive project influence the choice of a dropout method? How do the company’s characteristics implementing the predictive project influence the selection of the dropout method?

Design/methodology/approach

The authors described and compiled a taxonomy of currently known methods of screening candidate aircraft components for predictive maintenance for maintenance, repairs and overhaul organizations; identified the boundaries of each way; analyzed the advantages and disadvantages of existing methods; and formulated directions for further development of methods of screening for maintenance, repairs and overhaul organizations.

Findings

The authors identified the relationship between various screening methods by developing the approach proposed by Tiddens WW and supplementing it with economic methods. The authors built them into a single hierarchical structure and linked them with the parameters of the predictive project. The principal advantage of the proposed taxonomy is a clear relationship between the structure of the screening methods and the goals of the predictive project and the characteristics of the company that implements the project.

Originality/value

The authors of the article proposed groups of screening methods for predictive maintenance based on economic indicators to improve the effectiveness and efficiency of the screening process.

Details

Journal of Quality in Maintenance Engineering, vol. 29 no. 3
Type: Research Article
ISSN: 1355-2511

Keywords

Article
Publication date: 8 February 2023

Kenechi Peter Ifeanacho and Idu Robert Egbenta

The purpose of this research is to ascertain the extent to which the income capitalization approach reflects the pattern of emerging rental income in Enugu property market.

Abstract

Purpose

The purpose of this research is to ascertain the extent to which the income capitalization approach reflects the pattern of emerging rental income in Enugu property market.

Design/methodology/approach

The survey research design was used in this study. Data from the field was gathered through a data collection pro forma administered to 40 valuers in Enugu metropolis in the manner of conducting interviews. This study used key valuation details of 54 sampled income generating properties valued by the respondent valuers between 2015 and 2022 using the income capitalization approach. The same sampled properties were then revalued by the researchers using annuity due assumption/formulas of the income capitalization approach. Descriptive and inferential statistics were used to analyze the data.

Findings

The study revealed that the income capitalization approach used by most valuers in Enugu does not reflect the property rental income pattern prevailing in Enugu property market where rents are paid in advance. The study further shows that the application of the income capitalization approach for valuation of annually in-advance property rental income cash flow results in a higher capital value of 3.49% in Enugu property market.

Research limitations/implications

The limitations to this study are that past valuation done by valuers were used in the analysis instead of actual property sales and a relatively small number of sampled valuers and properties are used in the study The implication of the study is that ordinary annuity assumptions or formulas is inaccurate and not suitable for valuation of income generating property in an emerging market like Nigerian where timing of cash flow is annually in advance. Based on the result of this study it seems that ordinary annuity approach negate the principle of estimating value using income capitalization method by converting future cash flow from income generating property into an estimate of property value.

Practical implications

The study advocates the adoption of the use of annuity due formulas in the valuation of income generating properties in Nigeria as its practice standard to avoid undervaluation as this assumption is logical and provides more accurate value due to prevailing lease structure and rent payments patterns in the country. The implication of the study is that the use of ordinary annuity assumptions or formulas is inaccurate and not suitable for the valuation of income generating property in an emerging market like Nigerian where timing of cash flow is annually in advance.

Originality/value

This is one of the very few empirical studies carried out in Nigeria to ascertain the extent to which the income capitalization approach used by valuers reflects the rental income pattern that prevails in the Nigeria property market.

Details

Property Management, vol. 41 no. 3
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 1 December 2021

Qinyi Zhang, Wen Cao and Zhichao Zhang

With the rapid growth of the economy, people have increasingly higher living standards, and although people simply pursued material wealth in the past, they now pay more attention…

Abstract

Purpose

With the rapid growth of the economy, people have increasingly higher living standards, and although people simply pursued material wealth in the past, they now pay more attention to material quality and safety and environmental protection. This paper discusses the lack of motivation for investing in fresh-keeping technology for agricultural products by individual members of an agricultural supply chain composed of a supplier and a retailer by means of mathematical models and data simulations and discuss the optimal price-invest strategies under different sales models.

Design/methodology/approach

First, based on the model of no investment by both sides (NN), this paper considers three models: supplier only (MN), retailer only (NR) and cooperative investment (MR). Then, the authors analyze the influence of consumer price sensitivity and freshness sensitivity on the investment motivation of agricultural products under four models. Subsequently, the paper makes a sensitivity analysis of the optimal strategies under several models, and makes a game analysis of the suppliers and retailers of agricultural products. Finally, we conduct an empirical analysis through specific values.

Findings

The results show that (a) when the two sides cooperate, the amount of investment is largest, the freshness of the agricultural products is highest, and the sales volume is greatest; however, when both sides do not invest, the freshness of agricultural products and sales volume are lowest. (b) The price and freshness sensitivity of the consumer have an impact on investment decisions. Greater freshness sensitivity corresponds to a higher investment, higher agricultural product price, greater sales volume, and greater supply chain member income and overall income; however, greater price sensitivity corresponds to a lower investment, lower agricultural product price, lower sales volume, fewer supply chain members and lower overall income. (c) The investment game between the supplier and retailer is not only related to the sensitivity to price and freshness but also to the coordination coefficients of interest. At the same time, the market position of agricultural products should be considered when making decisions. The market share of agricultural products will affect the final game equilibrium and then affect the final benefit of the supply chain and individual members.

Practical implications

These results provide managerial insights for enterprises preparing to invest in agricultural products preservation technology.

Originality/value

At present, the main problem is that member enterprises of agricultural supply chains operate based on their own benefits and are resistant to investing alone to improve the freshness of agricultural products. Instead, they would prefer that other members invest so that they may reap the benefits at no cost. Therefore, the enterprises in each node of the agricultural product supply chain are not motivated enough to invest, and competition and game states are observed among them, and such behavior is definitely not conducive to improving the freshness of agricultural products. However, the current research on agricultural products is more about price, quality and greenness, etc., and there are few studies on agricultural investment. Through the establishment of the model, this paper is expected to provide theoretical suggestions for the supply chain enterprises that plan to invest in agricultural products preservation technology.

Details

Kybernetes, vol. 52 no. 4
Type: Research Article
ISSN: 0368-492X

Keywords

Case study
Publication date: 21 August 2023

Anupam Mehta, Ling Xiao and Lucy Gill-Simmen

This case is based on primary data collected via interviews with the CEO of the company. The authors obtained the case release form to publish this case.

Abstract

Research methodology

This case is based on primary data collected via interviews with the CEO of the company. The authors obtained the case release form to publish this case.

Case overview/synopsis

Various stakeholders, regulators, environmental activists and public awareness have increased companies’ pressure to contribute to environmental issues. However, the pressure seems to be more on large-scale companies to make progress and have an elaborate vision and goals related to environmental issues than small and medium enterprises (SMEs).

This case deals with the sustainability focus of the CEO of Ruscombe Artisan Food & Drink Ltd. (Made for Drink), an SME in the UK with a voluntary environmental impact investment proposal under consideration while having losses since 2017.

The case integrates the financial aspects and environmental considerations into this strategic investment evaluation process for making a capital investment decision. The case provides the actual financials of the company, including the income statement, balance sheet and cash flow statement of the company since its inception in 2017.

The case information enables students to comprehend and evaluate the consequences of doing a voluntary environmental capital investment project. The students will have the opportunity to apply simple capital investment methods and consider the external and less tangible environmental benefits in their final decision-making.

Complexity academic level

The case is suitable for undergraduate accounting or management modules, mainly introductory modules such as Managing Financial Resources, International Accounting, Finance, Introductory Corporate Finance, Basic Financial Literacy and Entrepreneurship.

Article
Publication date: 6 December 2022

Marco Meier and Christian Maier

Evidence suggests that retail investors who invest in individual stocks are, in the long run, largely outperformed by market indexes such as the MSCI World. While some turn to…

Abstract

Purpose

Evidence suggests that retail investors who invest in individual stocks are, in the long run, largely outperformed by market indexes such as the MSCI World. While some turn to exchange traded funds (ETFs) to invest in such market indexes, few migrate completely to ETFs. This study aims to shed light on the rationale behind retail investors' partial and complete migration from stocks to ETFs.

Design/methodology/approach

Drawing from the pull-push-mooring framework, a qualitative study (N = 21) informs a quantitative study (N = 282) by following established mixed methods guidelines. This study develops propositions for partial and complete migration intention to ETFs.

Findings

Results reveal that perceived investment possibilities, perceived risk reduction, perceived administrative effort, perceived expensiveness and monetary loss costs influence the migration from stocks to ETFs. This study shows that three configurations of perceptions result in partial migration intention and one configuration results in complete migration intention.

Originality/value

This study explains why some migrate partially from stocks to ETFs and others migrate completely. Findings show that both migration behaviors are subject to the same perceptions, but the configurations that form the behaviors are different. While only some identified perceptions must be present for a partial migration, all of them must be present for a complete migration, as it requires retail investors to sell their stocks and accept the costs incurred to invest in ETFs instead.

Article
Publication date: 6 June 2023

Rohana Sham, Eugene Cheng-Xi Aw, Noranita Abdamia and Stephanie Hui-Wen Chuah

The purpose of this study is to investigate consumers’ cryptocurrency adoption through the unified theory of acceptance and use of technology (UTAUT) and complexity theory.

Abstract

Purpose

The purpose of this study is to investigate consumers’ cryptocurrency adoption through the unified theory of acceptance and use of technology (UTAUT) and complexity theory.

Design/methodology/approach

By using a purposive sampling method, a configurational model was developed and a questionnaire-based survey was conducted to gather responses from a Malaysian sample. A total of 223 responses were obtained. Partial least square structural equation modeling (PLS-SEM) and fuzzy set qualitative comparative analysis (fsQCA) were adopted to analyze the data.

Findings

The PLS-SEM indicated that performance expectancy, effort expectancy, social influence and affinity for technology interaction were positive cryptocurrency adoption predictors, whereas regulation was a negative predictor. Based on the fsQCA, cryptocurrency adoption could be explained by six configurational paths, which comprised combinations of the proposed causal conditions: the UTAUT factors (performance expectancy, effort expectancy, facilitating condition and social influence), environmental factor (regulation) and individual factors (financial knowledge and affinity for technology interaction).

Research limitations/implications

This study offers contributions to the theoretical body of knowledge by articulating the relevance of extended UTAUT and extending the established UTAUT model by integrating external environment and personal factors, also showing the linear and nonlinear interplays of performance expectancy, effort expectancy, facilitating conditions, social influence, regulation, financial knowledge and affinity for technology interaction.

Practical implications

The findings facilitated practitioners’ (cryptocurrency brokers, governments and businesses) fostering of cryptocurrency adoption through the joint consideration of different factors. The factors spanned technological attributes and individual characteristics to regulation. Practitioners should acknowledge that different combinations of the aforementioned antecedents can be equally effective to increase cryptocurrency adoption. The findings suggested that these causal conditions should be considered holistically and that there is no best predictor.

Social implications

In social terms, the research is expected to contribute to the dissemination of cryptocurrencies and help governments and central banks to develop, regulate and supervise digital currencies, as well as in the implementation of a digital currency ecosystem aligned with sustainable development goals. Economically, the results might foster a high cryptocurrency adoption rate and stimulate crypto-token-based business models and investment opportunities that present new means of revenue generation at individual, organizational and national levels.

Originality/value

This study offers unique perspectives for the body of knowledge and practice in the cryptocurrency domain, using both symmetric and asymmetric methodologies, by delineating the configurational logic involving technological capabilities, social influences, regulation and individual characteristics in facilitating more efficacious dissemination of cryptocurrencies.

1 – 10 of over 13000