Search results

The coal-fired power plants have been confronted with new operation challenge since the unified carbon trading market was launched in China. To make the optimal decision for the carbon emissions and power production has already been an important subject for the plants. Most of the previous studies only considered the market prices of electricity and coal to optimize the generation plan. However, with the opening of the carbon trading market, carbon emission has become a restrictive factor for power generation. By introducing the carbon-reduction target in the production decision, this study aims to achieve both the environmental and economic benefits for the coal-fired power plants to positively deal with the operational pressure.

A dynamic optimization approach with both long- and short-term decisions was proposed in this study to control the carbon emissions and power production. First, the operation rules of carbon, electricity and coal markets are analyzed, and a two-step decision-making algorithm for annual and weekly production is presented. Second, a production profit model based on engineering constraints is established, and a greedy heuristics algorithm is applied in the Gurobi solver to obtain the amounts of weekly carbon emission, power generation and coal purchasing. Finally, an example analysis is carried out with five generators of a coal-fired power plant for illustration.

The results show that the joint information of the multiple markets of carbon, electricity and coal determines the real profitability of power production, which can assist the plants to optimize their production and increase the profits. The case analyses demonstrate that the carbon emission is reduced by 2.89% according to the authors’ method, while the annual profit is improved by 1.55%.

As an important power producer and high carbon emitter, coal-fired power plants should actively participate in the carbon market. Rather than trade blindly at the end of the agreement period, they should deeply associate the prices of carbon, electricity and coal together and realize optimal management of carbon emission and production decision efficiently.

This paper offers an effective method for the coal-fired power plant, which is struggling to survive, to manage its carbon emission and power production optimally.

The purpose of this paper is to examine how firms with multimarket contacts in both product and geographic markets make foreign direct investments (FDI) location choices and to advance the understanding about how managers with cognitive limits cope with opportunities to take the advantage of mutual forbearance in two types of markets.

Drawing upon the literatures on multimarket contact and decision making, the authors develop original hypotheses on how multimarket contacts in two types of markets influence firms’ choice of destination for foreign investments. The authors test the hypotheses using longitudinal archival data on foreign market entries of Japanese auto parts makers.

The authors find that when choosing FDI locations, firms reduce the cognitive burdens of coping with multimarket contacts in the two types of markets by focussing exclusively on what is perceived as relevant to the decision at hand. The authors also find that this propensity is particularly significant for large firms, whereas small firms use different decision rules and avoid entering markets with the greater degree of multimarket contact with prior entrants, whether in product or national market.

Although heuristics simplify competitive environments and reduce managers’ cognitive burdens, such a cost-saving orientation could increase the risk associated with international entry that may end in severe counterattacks from prior entrants, wasteful foreign investments, and substantial entry failures.

This study contributes to the literature by adopting multimarket contact theory to foreign market entry, jointly analyzing two types of multimarket contacts, testing three alternative hypotheses about how boundedly rational managers cope with multimarket contacts in two markets, and demonstrating that managers focus on multimarket contacts only in one type of markets when making entry decisions.

The purpose of this paper is to examine the effect of short-sale restrictions (SSR) with particular emphasis on their impact on the liquidity and informed trading in the stock and option markets.

Using a panel regression with controls for volatility, VIX and matched stocks, this study examines the effect of the short-sale ban (SSB) on stock and option liquidity, expressed in terms of spread and volume. In addition, the PIN and option information share (OIS) measures have been used to analyze its impact on informed trading in those related markets.

The results suggest that the SSB leads to a significant reduction in the liquidity of the affected stocks and their options. However, no significant change in the trader composition can be detected. This result is consistent to the short-prohibition effect predicted by Diamond and Verrecchia (1987).

Due to the sizeable data required to estimate the PIN and OIS measures, only a select sample of optionable stocks has been examined.

This study offers both academics and policy makers some useful insights into the effect of SSR on trading activities in both stock and option markets. From a policy perspective, it clearly demonstrates that regulatory changes targeting a specific market also affect other related markets via the arbitrage link between them.

Risks resulted from asymmetric information have become crucial barriers for commercial banks to implement supply chain finance (SCF) – mainly the inventory pledge financing (IPF). At the same time, online financial service providers (OFSPs) are emerging as strong competitors in the SCF market. As a result, commercial banks need to update their traditional SCF business models and alleviate their over-dependence on OFSPs.

The authors employ a multi-case-study method to investigate how the Internet of things (IoT) and blockchain technologies can be jointly leveraged to mitigate SCF risks. In-depth interviews were conducted to depict the business models and their novel ecosystem to reinforce traditional banks' ability in SCF services.

From the perspective of information asymmetry, the authors categorize IPF risks into three groups based on the principal-agent theory: collateral, warehousing and liquidity risk. The findings suggest that IoT can primarily improve traditional banks' information acquisition ability, and blockchain can facilitate credible information transformation, enabling banks to acquire knowledge from collaterals. Besides, the e-platform in the new architecture increases banks' involvement in the supply chain and builds a fair network to curtail warehousing risks. The employment of smart contracts and collaborative mechanism ensure process and outcome control in mitigating liquidity risks.

The research contributes to the literature by confirming the role of emerging technologies in reducing information asymmetry risks. Besides, the findings provide valuable insights for practitioners to promote effective practices and approaches in IPF.

Multimarket competition is an area of competitive dynamics focused on studying situations where firms compete against each other simultaneously in more than one market. The intensity of competition depends on the aggressiveness and the market contingencies, influencing the competitive strategies. Particularly, the purpose of this paper is to explore the influence of multimarket competition and market contingencies on innovation.

An exploratory qualitative approach using the Grounded Theory is applied with conceptual purposes. The data were collected through in-depth semi-structured interviews and additional observations with senior strategies and decision-makers. The paper follows an extensive narrative to understand decision-taking processes on competitive strategy with the support of analytical software. The paper was performed in the automotive components industry making seats in two different countries to acknowledge the influence of market contingencies.

The results suggest that multimarket competition does not reduce the level of aggressiveness, but it offers a background that favors opportunities for companies and new business in circumstances of crisis associated to innovation. Depending on the market contingencies, strategies can foster a higher technological innovation, in those cases of high development in the industry, or diversification, when the development is lower.

This paper contributes to enrich multimarket competition theory with the study of innovation strategies in different market conditions, a topic not much explored in multimarket literature. Additionally, it suggests implications for managers attending to different market contingencies.

In this paper, the authors seek to draw upon resource‐based theory to explore the role of existing, complementary organisational resources, in leveraging sustainable improvements in competitive positioning, resulting from information systems initiatives.

A research model has been derived from the literature, which is then used to guide the conduct of a major, integrated quantitative and qualitative survey of managers.

In this paper, it is shown that improvements in competitive positioning are likely to be more significant and sustainable when a new IS initiative makes an indirect contribution, through the leveraging of complementary organisational resources, rather than stemming directly from the functionality of the IT asset.

The main limitations of this study relate to its use of a “convenience” sample and a “single‐informant”. However, both these comprises were viewed as being worthwhile, as it gave the authors the opportunity to conduct a study that was both broad and deep, in terms of the data collected.

The authors draw out the implications of their empirical study for the management of IT projects, to improve their ability to deliver sustainable improvements in competitive positioning.

This research makes a significant departure from the aggregated, enterprise‐level orientation of prior studies, by focusing upon the process‐level impacts of individual IS initiatives.

The purpose of this paper is to elicit the rich implications of IT business value for small- and medium-sized enterprises (SMEs) from the perspective of IT leaders.

This paper uses case study and the repertory grid technique to explore cognition of IT business value of the IT leader in Guangdong CHJ Industry Co., Ltd (CHJ), a fast-growing jewelry company in China. The paper further examines this cognitive structure of IT business value by using cluster analysis technique.

This paper develops a six-category framework of IT business value from IT leaders' perspective, which provides insights for future research of IT applications in SMEs.

This study contributes to IT business value research by providing empirically grounded insight from perspectives of IT leaders in SMEs. The identified IT business value framework can also serve as a practical tool to help managers comprehensively assess and evaluate IT applications in SMEs.

The purpose of this paper is to present a simulation‐based evaluation method for the comparison of different organizational forms and software support levels in the field of supply chain management (SCM).

Apart from widely known logistic performance indicators, the discrete event simulation model considers explicitly coordination cost as stemming from iterative administration procedures.

The method is applied to an exemplary supply chain configuration considering various parameter settings. Curiously, additional coordination cost does not always result in improved logistic performance. Influence factor variations lead to different organizational recommendations. The results confirm the high importance of (up to now) disregarded dimensions when evaluating SCM concepts and IT tools.

The model is based on simplified product and network structures. Future research shall include more complex, real world configurations.

The developed method is designed for the identification of improvement potential when SCM software is employed. Coordination schemes based only on ERP systems are valid alternatives in industrial practice because significant investment IT can be avoided. Therefore, the evaluation of these coordination procedures, in particular the cost due to iterations, is of high managerial interest and the method provides a comprehensive tool for strategic IT decision making.

Reviewed literature is mostly focused on the benefits of SCM software implementations. However, ERP system based supply chain coordination is still widespread industrial practice but associated coordination cost has not been addressed by researchers.

This study aims to draw attention to the familiarity effect among international multimarket contact (MMC) firms on coopetition in the global container shipping industry and to better understand the contingency model of structural holes and in-degree centrality on joint price elevation actions and subsequent performance.

Drawing on competitive dynamics and the literature on networks, a panel data model is developed from 6,489 competitive and 7,146 cooperative actions of the top 21 shipping firms in 18 global arenas with a structured content analysis method being applied.

Stronger MMC by firms requires increased levels of cooperative actions to elevate prices. This coopetition relationship is enhanced or weakened when the focal firm occupies a higher level of structural hole or position of competitive in-degree centrality.

Shipping liners seeking to cooperate with joint action in oligopolistic markets are offered guidelines and strategies to increase their performance through their actions.

This study contributes to the literature on coopetition networks by further analyzing interfirm relationships and interactions that enhance performance, while exploring network positioning strategies to mitigate risks.

The purpose of this paper is to examine the effects of political risk on firms' likelihood of foreign market entry and performance by adopting a strategic view of political risk and drawing upon the arguments of multimarket contact theory.

This study estimates the location choice and performance of Japanese auto parts‐makers using panel regression models.

The study finds that firms with low multimarket contact in the home country and high multimarket contact in the host country are less likely to avoid politically risky host countries and that firms which entered politically risky host countries exhibit greater performance when the degree of multimarket contact with prior entrants is high.

Although the research design raises a concern about the generalizability of the findings, this study highlights the strategic importance of politically risky markets and suggests the importance of considering competitive interactions with rivals in examining interdependent behavior in foreign direct investments.

Instead of consistently avoiding politically risky markets, managers should actively consider the potential strategic importance of these markets. A post‐entry strategy suggested by the findings is taking positive steps to leverage the benefits of multimarket contacts for managing subsidiaries in politically risky host countries.

Unlike previous studies, this study emphasizes the strategic potential of politically risky markets and takes a view that firms have variable political risk tolerance. Furthermore, the authors' adoption of multimarket contact theory allows a novel approach to benchmarking against rivals for foreign entry decisions.