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1 – 10 of 151
Article
Publication date: 9 July 2020

Vipin Prakash Singh and Kunal Ganguly

This research aims to develop a new generic framework for estimating different maintenance costs (preventive, corrective and conditional based) and its distribution to original…

369

Abstract

Purpose

This research aims to develop a new generic framework for estimating different maintenance costs (preventive, corrective and conditional based) and its distribution to original equipment manufacturer (OEM), customer and supply chain due to no fault found (NFF) events. The study extend the domain of NFF to military aircraft maintenance, repair and overhaul (MRO) by including broader range of cost drivers than are normally found in maintenance NFF literature.

Design/methodology/approach

The research applies the soft system methodology involving 80 field surveys and five in depth semi-structured interviews with practicing experts having background in military aircraft NFF MRO. For impact analysis, authors have used an agent-based model to represent and prioritize the critical NFF cost drivers during aircraft MRO based on the cost inputs of 21 technology transfer cases.

Findings

The paper provides imperial insights about how NFF cost drivers affect the OEM, customer and supply chain. It suggests that NFF cost need to be part of the commercial MRO contract, depending on its frequency pattern in different types of maintenances.

Research limitations/implications

The context of the current research is military aircrafts industry and may lack generalizability to commercial aircrafts. Therefore, researchers are encouraged to test the proposed propositions further.

Practical implications

The developed framework will provide invaluable help in key financial decision-making during signing of MRO contract in technology transfer cases.

Originality/value

This paper proposed a new prediction model for NFF cost estimation across its shareholders and current status of NFF in military aircraft NFF MRO in India.

Details

Journal of Quality in Maintenance Engineering, vol. 27 no. 4
Type: Research Article
ISSN: 1355-2511

Keywords

Article
Publication date: 25 May 2012

Chris Hockley and Paul Phillips

The purpose of this paper is to provide a platform for discussion on the problem of no fault found (NFF) events which continues to plague maintenance operations of complex…

Abstract

Purpose

The purpose of this paper is to provide a platform for discussion on the problem of no fault found (NFF) events which continues to plague maintenance operations of complex engineering systems.

Design/methodology/approach

The research has been collated from many sources: academic literature, industrial discussions and the authors’ experiences. The study defines the NFF problem, its causes, impacts and costs as well as an evaluation of the available scientific research.

Findings

The paper identifies a continuing serious problem with NFF; it is not just a technical problem but also encompasses organisations, culture and behaviours. Focusing only on one of these at a time is no longer enough to solve the NFF problem in modern maintenance operations and solutions will require each category to be addressed as an integrated problem.

Originality/value

The overall value is a detailed picture of the NFF field seen from both an industrial and academic viewpoint. The originality of the paper is that it articulates and organizes the existing knowledge concerning the NFF phenomena, the value of which is to identify gaps in existing research and knowledge.

Details

Journal of Quality in Maintenance Engineering, vol. 18 no. 2
Type: Research Article
ISSN: 1355-2511

Keywords

Article
Publication date: 6 June 2016

Stoyu I. Ivanov

The purpose of this study is to identify the factors that impact the exchange-traded funds net fund flow changes on a daily basis.

Abstract

Purpose

The purpose of this study is to identify the factors that impact the exchange-traded funds net fund flow changes on a daily basis.

Design/methodology/approach

A total of 1,212 different exchange-traded funds with a proprietary daily net fund flow data and logistic regressions were studied because the majority of the 1,212 exchange-traded funds have mostly zero daily net fund flow changes.

Findings

It was documented that in the period December 22, 2005 to July 28, 2010 autocorrelation at the daily frequency is not universally present for the 1,212 exchange-traded funds that we study, despite the fact that this is the case in the monthly data documented in prior studies. No support was found for the feedback trading hypothesis but some support was found for the contrarian investor hypothesis on daily basis, even though the opposite is ascertained for both in the prior literature monthly data. Also, it cannot be concluded that tracking error prompts net fund flow changes and thus arbitrage activity.

Originality/value

The paper contributes to the ongoing analysis of the factors influencing investment companies fund flow changes, which has mostly focused on open-end funds and monthly data so far. Considering the increased scope and relevance of exchange-traded funds in today’s financial markets, this study fills a void in the fund flow changes literature.

Details

Studies in Economics and Finance, vol. 33 no. 2
Type: Research Article
ISSN: 1086-7376

Keywords

Article
Publication date: 11 May 2015

Samir Khan

The purpose of this paper is to present the successes and barriers from an industry-university partnership on studying the impact of No Fault Found (NFF) events. As a consequence…

Abstract

Purpose

The purpose of this paper is to present the successes and barriers from an industry-university partnership on studying the impact of No Fault Found (NFF) events. As a consequence, various opportunities are explored to engage with industry to investigate the problem. A comprehensive training is also outlined to ensure that experience and troubleshooting techniques can be disseminated as guidelines across businesses.

Design/methodology/approach

The study was performed by Cranfield University in collaboration with industrial partners on identifying the impact of the NFF problem within engineering services. This includes discussions with maintenance engineers, outcomes from a symposium organised specifically on NFF and the authors’ own experiences with the issue.

Findings

The paper discusses the continuing serious problem with NFF events found at various maintenance echelons, and suggests a need for formal postgraduate training to be taught within the field of maintenance management. This includes not just technical issues, but also encompassing organisational structures, cultures and behaviours. Since focusing only on one issue at a time does not suffice in dealing with the NFF problem, an integrated approach is required for modern maintenance services and operations.

Research limitations/implications

Higher education learning outcomes have been outlined for competent engineering personnel, to broaden their understanding on the subject area. This is based on discussions with industrial collaborators and recently published material.

Practical implications

This paper emphasises the importance of the breath of interaction channels and demonstrates the opportunities for effective knowledge exchange by using the activities at Cranfield University to demonstrate their usefulness. The arguments clearly lead to the necessity of academia in this type of industrial problem. However, the presence of a university in this case is not as the sole problem solver, but the rather to act as a collaborative medium between various other outlets. Further ideas proposed, such as constructing guidelines for industries in handling NFF problems and benchmarking tools, can serve as real products that can be benefit industries. The study also aims to promote best practice in the field of maintenance management and outlines the foundations for NFF training material.

Originality/value

The originality of the paper is that it presents a structured methodology for engaging with industry. It also outlines a curriculum for NFF training. It essentially serves as a road-map for research and offers a detailed account of areas that need to be taken into account in order to reduce the likely event of NFF.

Details

Journal of Quality in Maintenance Engineering, vol. 21 no. 2
Type: Research Article
ISSN: 1355-2511

Keywords

Article
Publication date: 5 September 2017

Alexander Wiener-Fererhofer

The purpose of this paper is to analyze which key financial factors are appropriate for measuring a credit rating score for family firms. In the recent literature, there exists a…

Abstract

Purpose

The purpose of this paper is to analyze which key financial factors are appropriate for measuring a credit rating score for family firms. In the recent literature, there exists a vast number of studies which evaluates performance differences between family and non-family firms (NFF). However an analysis with regards to a distinction between credit rating scores of family-orientated businesses compared to their counterparts in Austria has not been examined so far.

Design/methodology/approach

In order to bridge this research gap, an empirical model based on Moody’s credit rating methodology is used to address these issues. Therefore, the relevant data were taken from the 600 largest, both listed and non-listed, companies of Austria. The statistical measurements refer to a comparison of the means resulting from quantitative rating categories (profitability, leverage structure, liquidity development and firm size).

Findings

The results of this empirical research show that family firms achieve better values in profitability, leverage structure and liquidity development based on credit rating scores. Only firm size represents no significant differences between family and NFF.

Originality/value

This study will contribute to the existing literature in the academic area of family business research and offers a framework for future empirical analysis in this field. Furthermore, this paper provides important information that will help both family and NFF accomplish their financial strategies related to credit rating transitions.

Details

Journal of Family Business Management, vol. 7 no. 3
Type: Research Article
ISSN: 2043-6238

Keywords

Article
Publication date: 20 July 2021

Vipin Prakash Singh, Kunal Ganguly and Taab Ahmad Samad

No fault found (NFF) in maintenance has been a frequently observed problem in industrial sectors, but very few academic contributions are devoted to reviewing and summarizing the…

Abstract

Purpose

No fault found (NFF) in maintenance has been a frequently observed problem in industrial sectors, but very few academic contributions are devoted to reviewing and summarizing the related research. Considering the growing interest of academicians in NFF during the last decade, there is a critical need to examine theme evolution in this field, most influential authors, contemporary practices, research gaps and proposed solutions.

Design/methodology/approach

A portfolio of 169 articles published between 1982 and 2020 was collected from the Scopus database and was systematically analyzed using a two-tier method. First, the evolution, current state of literature and research clusters are identified using bibliometric techniques. Finally, the research clusters are studied to understand the literature's main themes and develop the future research agenda using content analysis.

Findings

The results indicate that publications on NFF are rising quickly in the last decade, especially after 2010. The previous NFF research primarily focuses on system design, fault diagnostics, reliability engineering, data management and human factors, but the criticality of economic and risk analysis has not been significantly represented.

Research limitations/implications

The study resulted in developing an inclusive framework and identifying six research clusters that will help in granular understanding, benefit the researchers, practitioners and policy formulators in NFF.

Originality/value

This study examines the NFF's current research direction and calls for further research in integrating NFF economics on its stakeholders like manufacturers, supply chain, customers and risk analysis during the product life cycle.

Details

International Journal of Quality & Reliability Management, vol. 39 no. 5
Type: Research Article
ISSN: 0265-671X

Keywords

Article
Publication date: 4 March 2014

Elisabete F. Simões Vieira

– The purpose of this paper is to examine whether the ownership of public firms is related to accounting and market performance, comparing family and non-family listed firms.

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Abstract

Purpose

The purpose of this paper is to examine whether the ownership of public firms is related to accounting and market performance, comparing family and non-family listed firms.

Design/methodology/approach

The paper uses regression analysis, considering a sample of Portuguese family and non-family firms (NFF) for the period between 1999 and 2010.

Findings

Overall, the results show that family firms (FF) are older, are more indebted and have higher debt costs than NFF. However, they present lower levels of risk. The evidence suggests that FF outperform NFF when the author considers a market performance measure. The market performance of family-controlled firms is more sensitive to the crisis periods and age, compared to their counterparts. The empirical findings suggest that under economic adversity, the performance is especially compromised by the firms' age.

Research limitations/implications

A limitation of this study is the small size of the sample, which derives from the small size of the Portuguese stock market, the Euronext Lisbon.

Originality/value

This paper offers some insights on the ownership of public firms and firm performance by investigating a small European economy. The study also contributes to the stream of firm performance, considering new independent variables as determinants of firm performance, such as operational risk. Finally, the study examines the interaction between ownership and performance under both steady and adverse economic conditions, giving the opportunity to analyze whether firm performance differs according to market conditions.

Details

Managerial Finance, vol. 40 no. 3
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 19 January 2015

Johann Burgstaller and Eva Wagner

The purpose of this paper s to study the financing behavior of family firms (FF), as these differ from their small- and medium-sized enterprise (SME) counterparts in their capital…

3413

Abstract

Purpose

The purpose of this paper s to study the financing behavior of family firms (FF), as these differ from their small- and medium-sized enterprise (SME) counterparts in their capital structure decision, mainly due to an increased risk aversion and the desire to maintain control over the firm.

Design/methodology/approach

A sample of 470 SMEs from a bank-based environment is examined for the period of 2005-2010. A dynamic panel data model is utilized to assess both the role of several capital structure determinants and the target-adjusting behavior for different subsamples of firms.

Findings

The results show that FF, whether controlled by founders or not, are relatively more leveraged. The aim to maintain long-term control and limited financing options and other factors seem crucial to the observed differences in leverage and dominate risk considerations associated with higher debt. Presumed differences in agency costs across generations do not drive capital structure decisions, as overall leverage does not differ between founder- and descendant-controlled family firms (FCFF and DCFF, respectively). Firms with a founder-chief executive officer (CEO), however, adjust faster to deviations from a target debt ratio. The effects of many proposed capital structure determinants differ across firm types, but are highly consistent with predictions from the pecking order theory.

Practical implications

Based on the results of this study, we suggest policy-makers in bank-based economies like Austria to strongly focus on mechanisms that facilitate the access to bank debt to ensure adequate allocation of finances to SMEs. This is especially important to stimulate growth and further innovation for the dominant group of FF, as they rely on debt the most to maintain family control.

Originality/value

This paper makes a novel contribution to the literature, as it combines an analysis of the capital structure of non-listed family firms (NFF) in a bank-based economy, the respective role of founder management, the dynamic adjustment to a presumed debt target and joint tests of capital structure theories.

Details

The Journal of Risk Finance, vol. 16 no. 1
Type: Research Article
ISSN: 1526-5943

Keywords

Article
Publication date: 25 January 2008

Stefanie Bröring and L. Martin Cloutier

This paper seeks to shed some light on value‐creation in new product development (NPD) projects within the context of industry convergence and to explore alternative types of…

3749

Abstract

Purpose

This paper seeks to shed some light on value‐creation in new product development (NPD) projects within the context of industry convergence and to explore alternative types of projects characterised by different buyer‐seller relationships.

Design/methodology/approach

There has been much research on value‐creation in general, but limited emphasis on value‐creation in NPD projects addressing new industry segments emerging from industry convergence (for example, the segment of nuctraceuticals and functional foods (NFF) products that is positioned between the food and the pharmaceutical industries). Based on a multi‐case study approach, this paper pursues an exploratory research strategy and investigates 54 NPD projects drawn from a Quebec (Canada) NFF foods cluster.

Findings

In the context of convergence a new value chain is emerging between two formerly separated sectors. Value‐creation networks spread across industries and reinforce trends of convergence. Firms face competence gaps in NPD and seek to close these by choosing alternative forms of collaboration. Different types of NPD projects involve alternative forms of buyer‐seller relationships and their approach of value‐creation is analysed.

Research limitations/implications

A typology of different approaches to NPD in converging value chains is presented along with type‐specific implications for value‐creation for the required buyer‐seller relationship.

Originality/value

This paper provides a unique insight into value‐creation in NPD in the emerging NFF sector, in particular, and for converging industries, in general.

Details

British Food Journal, vol. 110 no. 1
Type: Research Article
ISSN: 0007-070X

Keywords

Article
Publication date: 5 June 2017

Elisabete Simões Vieira

The purpose of this paper is to analyse the relationship between debt policy and performance among family firms (FF), providing evidence on whether FF differ from non-family firms…

1659

Abstract

Purpose

The purpose of this paper is to analyse the relationship between debt policy and performance among family firms (FF), providing evidence on whether FF differ from non-family firms (NFF). It also focusses on the possibility of asymmetrical debt policy impact on performance between periods of stability and economic adversity.

Design/methodology/approach

The paper employs panel data regression, considering a sample of Portuguese listed firms for the period between 1999 and 2014.

Findings

Overall, the author find evidence that debt contributes negatively to firms’ performance, which is consistent with the pecking order prediction, and that the relationship between debt and performance do not differ significantly between FF and NFF. After addressing the endogeneity issue, the author conclude that firms’ performance is negatively influenced by both short- and long-term debt. Considering the total debt, the negative relationship between the two variables differs from family and non-family companies. The results show that age and size influences positively, and the independence of the board directors influences negatively the firms’ performance. The empirical findings suggest that under economic adversity, the firms’ performance is negatively affected. Finally, the author conclude that return on assets appear to fit better than return on equity or MB when you want to relate debt and firm performance.

Research limitations/implications

A limitation of this study is the small size of the Euronext Lisbon that results in a small sample.

Originality/value

This paper offers some insights on the relationship between debt policy and firm performance from a country with weak protection of minority shareholders, concentrated ownership and a significant family control. It also gives the opportunity to analyse whether firm performance differs according to market conditions.

Details

International Journal of Managerial Finance, vol. 13 no. 3
Type: Research Article
ISSN: 1743-9132

Keywords

1 – 10 of 151