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Drawing on the resource-based view (RBV), this study investigates how tax planning affects the likelihood of financial default in different stages of the corporate life cycle.

Collecting a large sample of US firms between 1989 and 2016, hypotheses are tested using a hazard model. Several robustness and endogeneity checks corroborate the main findings.

The results show that tax-planning firms are less likely to default in the introduction and decline stages, while they are more likely to default in the growth and maturity stages. The findings suggest that introductory and declining firms use cash resources obtained from tax planning efficiently to meet their needs and acquire other useful resources. In growing and mature firms, tax aggressiveness generates unnecessary slack resources, weakens managerial discipline and increases reputational risks.

The results shed light on the benefits and costs associated with tax planning throughout firms' life cycle, holding great significance for managers, investors, lenders and other stakeholders.

This study contributes to the literature that examines resource management at different life cycle stages by showing that cash resources from tax planning are managed in distinctive ways in each life cycle stage, having a varied impact on the likelihood of default. The authors shed light on underexplored cash resources. Furthermore, this study shows the potential linkages between the agency theory and RBV.

Transportation infrastructure asset management has long been an active but challenging problem for agencies, which urges to maintain a good state of their assets but faces budgetary limitations. Managing a network of transportation infrastructure assets, especially when the number is large, is a multifaceted challenge. This paper aims to develop a life-cycle cost analysis (LCCA) based transportation infrastructure asset management analytical framework to study the impacts of a few key parameters/factors on deterioration and life-cycle cost. Using the bridge as an example infrastructure type, the framework incorporates an optimization model for optimizing maintenance, repair, rehabilitation (MR&R) and replacement decisions in a finite planning horizon.

The analytical framework is further developed through a series of model variations, scenario and sensitivity analysis, simulation processes and numerical experiments to show the impacts of various parameters/factors and draw managerial insights. One notable analysis is to explicitly model the epistemic uncertainties of infrastructure deterioration models, which have been overlooked in previous research. The proposed methodology can be adapted to different types of assets for solving general asset management and capital planning problems.

The experiments and case studies revealed several findings. First, the authors showed the importance of the deterioration model parameter (i.e. Markov transition probability). Inaccurate information of p will lead to suboptimal solutions and results in excessive total cost. Second, both agency cost and user cost of a single facility will have significant impacts on the system cost and correlation between them also influences the system cost. Third, the optimal budget can be found and the system cost is tolerant to budge variations within a certain range. Four, the model minimizes the total cost by optimizing the allocation of funds to bridges weighing the trade-off between user and agency costs.

On the path forward to develop the next generation of bridge management systems methodologies, the authors make an exploration of incorporating the epistemic uncertainties of the stochastic deterioration models into bridge MR&R capital planning and decision-making. The authors propose an optimization approach that does not only incorporate the inherent stochasticity of bridge deterioration but also considers the epistemic uncertainties and variances of the model parameters of Markovian transition probabilities due to data errors or modeling processes.

The aviation industry has seen consistent growth over the past few decades. To maintain its sustainability and competitiveness, it is important to have a comprehensive understanding of the environmental impacts across the entire life cycle of the industry, including materials, processes and resources; manufacturing and production; lifetime services; reuse; end-of-life; and recycling. One important component of aircraft engines, integral rotors known as Blisks, are made of high-value metallic alloys that require complex and resource-intensive manufacturing processes. The purpose of this paper is to assess the ecological and economical impacts generated through Blisk production and thereby identify significant ‘hot-spots’.

This paper focuses on the methodology and approach for conducting a full-scale Blisk life cycle assessment (LCA) based on ISO 14040/44. Unlike previous papers in the European Aerospace Science Network series, which focused on the first two stages of LCA, this publication delves into the “life cycle impact assessment” and “interpretation” stages, providing an overview of the life cycle inventory modeling, impact category selection and presenting preliminary LCA results for the Blisk manufacturing process chain.

The result shows that the milled titanium Blisk has a lower CO₂ footprint than the milled nickel Blisk, which is less than half of the global warming potential (GWP) of the milled nickel Blisk. A main contributor to GWP arises from raw material production. However, no recycling scenarios were included in the analysis, which will be the topic of further investigations.

The originality of this work lies in the detailed ecological assessment of the manufacturing for complex engine components and the derivation of hot spots as well as potential improvements in terms of eco-footprint reduction throughout the products cradle-to-gate cycle. The LCA results serve as a basis for future approaches of process chain optimisation, use of “greener” materials and individual process improvements.

Intelligent and connected vehicle technology is in the ascendant. High-level autonomous driving places more stringent requirements on the accuracy and reliability of environmental perception. Existing research works on multitarget tracking based on multisensor fusion mostly focuses on the vehicle perspective, but limited by the principal defects of the vehicle sensor platform, it is difficult to comprehensively and accurately describe the surrounding environment information.

In this paper, a multitarget tracking method based on roadside multisensor fusion is proposed, including a multisensor fusion method based on measurement noise adaptive Kalman filtering, a global nearest neighbor data association method based on adaptive tracking gate, and a Track life cycle management method based on M/N logic rules.

Compared with fixed-size tracking gates, the adaptive tracking gates proposed in this paper can comprehensively improve the data association performance in the multitarget tracking process. Compared with single sensor measurement, the proposed method improves the position estimation accuracy by 13.5% and the velocity estimation accuracy by 22.2%. Compared with the control method, the proposed method improves the position estimation accuracy by 23.8% and the velocity estimation accuracy by 8.9%.

A multisensor fusion method with adaptive Kalman filtering of measurement noise is proposed to realize the adaptive adjustment of measurement noise. A global nearest neighbor data association method based on adaptive tracking gate is proposed to realize the adaptive adjustment of the tracking gate.

The purpose of this paper is to analyse the production cycle of glazed porcelain stoneware, from the extraction of raw materials to the packaging of the finished product, with the aim of verifying the effects of integrating an environmental impact assessment into the decision-making process for managing the life cycle, to make it economically and ecologically sustainable, in a holistic approach along the supply-chain.

The research is performed using the life cycle assessment and life cycle costing methodologies, to identify environmental impacts and costs, that occur during extraction of raw materials, transportation, ceramic tiles production, material handling, distribution and end-of-life stages within a cradle to grave perspective.

Through the use of a comprehensive analysis of the environmental impact assessment and related externalities, three possible strategic options to improve the environmental performance and costs of ceramic tile production were formulated, leveraging sustainability as a competitive advantage.

This exploratory research opens future lines of investigation, the first of which is to confirm the technological feasibility and market responsiveness to the three strategic solutions hypothesised thanks to the use of an innovative eco-design technique.

The research has allowed testing and validating the tools of environmental impact assessment (life cycle assessment) and economic impact assessment (life cycle costing as structured methodologies in a life cycle management framework, to help companies implement competitive strategies based on sustainability.

Sustainable building design suffers from a lack of reliable life cycle data. The purpose of this paper is to compare life cycle costs of sustainable building projects, examine the magnitude of various cost drivers and discuss the implications of an emerging shift in cost drivers.

This paper is based on data from 21 office buildings certified in Denmark according to the sustainable certification scheme DGNB.

The paper supports previous findings that construction costs and running costs each roughly make up half of the life cycle costs over a 50-year period. More surprising is the finding that the life cycle costs for cleaning are approximately twice as high as the supply costs for energy and water.

The data set is based on actual construction costs of office buildings constructed in 2013-2017. Although all running costs are calculated rather than measured, they are based on a more detailed, specific and industry-supported set of calculation assumptions than is usual for life cycle costing studies because of extensive collaborative work in a number of concomitant national research and development projects.

Authorities, clients and building professionals heavily emphasise energy-saving measures in new Danish buildings. The paper suggests redirecting this effort towards other more prominent cost drivers like cleaning and technical installations.

This paper provides a notable contribution to the academic understanding of the significance of different cost drivers as well as the practical implementation of life cycle costing.

This paper analyzes the cost structure of the municipal waste collection in Japan. Since the municipality in Japan is responsible for dealing with the garbage generated by households, there is plenty of data regarding municipal waste in comparrison to private firms. Nevertheless, there is little research available which analyzes the end-of-life product logistics of municipal waste. This research aims to reveal some structural features of the end-of-life product logistics cycle. Based on more than 1,800 samples, this paper statistically shows that both waste collection and waste processing have a strong scale economy. In addition, this paper will also prove that the consignment to the private entity has made the cost of waste management cheaper in Japan.

This paper aims to provide an estimation of the costs of the coronavirus (COVID-19) pandemic with a special focus on Spain. Costs include macroeconomic costs of foregone gross domestic product (GDP) attributable to the pandemic and the direct and indirect costs of prevention, treatment and lost productivity. This study also analyzes the cost-effectiveness of the test-tracking-quarantine (TTQ) strategy in Spain.

The macroeconomic costs of foregone GDP attributable to the pandemic are estimated for different countries and areas by comparing the present GDP forecasts for 2020 and 2021 with counterfactuals estimated before the COVID-19 crisis aftermath. The total cost of the COVID-19 for Spain in 2020 was obtained using the cost of illness approach with a bottom-up process. A cost-effectiveness analysis of the TTQ strategy in Spain is based on the estimation of the total costs of TTQ and the health gains and avoided health-care costs associated with the TTQ strategy. A sensitivity analysis explores the consequences of uncertainty in key parameters.

The GDP cost of the COVID-19 is by far larger than all the other components of the cost. The global cost of the Covid-19 crisis in 2020–2021 is estimated at 14% of 2019 GDP (around 12,206 mm$). In the specific case of Spain, it amounts to 24% of the 2019 GDP; which is 397.3 m €. Spain is and will be by far the European country most economically affected by the pandemic. In Spain 2020, the GDP cost accounts for 94.7% of the total cost of the COVID-19 and health-care direct costs are only 2.14%. TTQ is a dominant strategy in Spain. For each euro spent on it, 7 euros will be recovered only in terms of saved health-care resources.

Given the large degree of uncertainty and the fast-evolving nature of the epidemic, a number of assumptions are required to arrive at the estimates provided in this study. The results were found to be robust to the assumptions applied.

TTQ is a key strategy for the contention of the epidemy and it is justified from the economic perspective.

This is the first estimation of the cost of the COVID-19 and the cost-effectiveness of the TTQ strategy for Spain.

This research studies a location-allocation problem considering the m/m/m/k queue model in the blood supply chain network. This supply chain includes three levels of suppliers or donors, main blood centers (laboratories for separation, storage and distribution centers) and demand centers (hospitals and private clinics). Moreover, the proposed model is a multi-objective model including minimizing the total cost of the blood supply chain (the cost of unmet demand and inventory spoilage, the cost of transport between collection centers and the main centers of blood), minimizing the waiting time of donors in blood donating mobile centers, and minimizing the establishment of mobile centers in potential places.

Since the problem is multi-objective and NP-Hard, the heuristic algorithm NSGA-II is proposed for Pareto solutions and then the estimation of the parameters of the algorithm is described using the design of experiments. According to the review of the previous research, there are a few pieces of research in the blood supply chain in the field of design queue models and there were few works that tried to use these concepts for designing the blood supply chain networks. Also, in former research, the uncertainty in the number of donors, and also the importance of blood donors has not been considered.

A novel mathematical model guided by the theory of linear programming has been proposed that can help health-care administrators in optimizing the blood supply chain networks.

By building upon solid literature and theory, the current study proposes a novel model for improving the supply chain of blood.

The study visualizes the link between environment accounting & triple bottom line, quantitative environmental reporting & standard method, voluntary environmental disclosure & legal requirement, size of company & volume of environmental disclosure, material flow analysis & life cycle assessment to achieve sustainable development in Bangladeshi corporation. Therefore, the purpose of the study is to investigate the role of these factors to achieve sustainable development in Bangladeshi corporation. To investigate the role of these factors, ten factors that significantly contribute to achieve sustainable development were determined. A set of closed-minded questionnaire was developed on the basis of these factors to collect the data from employees & employers. Questionnaire was administered by using statistical tools such as matrix, cross tabulation & Paired Samples Tests as a data collection tool and analyses. Research finding shows that sustainability of corporation was associated with the performance of economic, social, and environment. Other factors like quantitative environmental reporting, standard method, voluntary environmental disclosure, legal requirement, size of the company, volume of environmental disclosure, material flow analysis & life cycle assessment were found that they worked as a complement to enhance the performance of economic, social, and environment to achieve sustainable development in Bangladeshi corporation.