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Article
Publication date: 9 November 2018

Nasser Javid, Kaveh Khalili-Damghani, Ahmad Makui and Farshid Abdi

This paper aims to propose a multi-dimensional model on the basis of the key factors of the flexibility and the complexity through structural equation modeling (SEM)…

Abstract

Purpose

This paper aims to propose a multi-dimensional model on the basis of the key factors of the flexibility and the complexity through structural equation modeling (SEM). Dimensions of the flexibilities and complexity, including 16 main factors and 34 sub-factors, are investigated. The sampling of the research is accomplished using both academic and industrial experts.

Design/methodology/approach

A huge electronic questionnaire analysis, including 1,250 samples from which 1,036 were returned, was accomplished in various universities and manufacturing companies throughout the USA, Europe and Asia. Partial least square-SEM (PLS-SEM) is used to test the hypotheses through confirmatory factor analysis.

Findings

The results reveal insightful information about the impacts of different dimensions of flexibility on each other and also the effect of the flexibility on the complexity. Finally, system of linear mathematical equations for flexibility-complexity trade-off is proposed. This can be applied to realize the trade-off among dimensions of flexibility and complexity.

Originality/value

Flexible manufacturing systems are formed to meet the needs of the customers. Such systems try to produce products in appropriate quality at the right time and at the specified quantity. These, in turn, require flexibility and will cause complexity. Although flexibility and complexity are both important, there is no comprehensive framework in which the multi-dimensional relationships of the manufacturing flexibility and complexity, as well as their dimensions, are demonstrated.

Article
Publication date: 2 May 2018

Bushra Sarwar, Ming Xiao, Muhammad Husnain and Rehana Naheed

Numerous researchers have developed theories and studies to uncover the issues pertinent to dividend policy dynamics, but it is still one of the unresolved problems of…

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Abstract

Purpose

Numerous researchers have developed theories and studies to uncover the issues pertinent to dividend policy dynamics, but it is still one of the unresolved problems of finance. The purpose of this paper is to focus on a new dimension, i.e., financial expertise on the corporate board for explaining the dividend policy dynamics in the emerging equity markets of China and Pakistan.

Design/methodology/approach

The study employs static (fixed effect (FE) and random effect (RE)) and dynamic models – two-step generalized method of moments (GMM) estimation techniques by Arellano and Bond (1991) and Arellano and Bover (1995) – during the timespan from 2009 to 2014. Further, this study re-estimated FE, RE and GMM two-step estimation techniques by excluding the non-dividend-paying companies, and also employed instrumental variable regressing by using two instrumental variables – industry average financial expertise of the board and board size – as proxies for board financial expertise to control the possible endogeneity.

Findings

The study reveals that Chinese firms having more financial expertise on the board do not take dividends as a control mechanism (substitution hypothesis), while Pakistani firms support the compliment hypothesis and use dividends as a control mechanism to mitigate agency conflict to protect shareholders’ interests and keep additional funds from the manager’s opportunism. Further robustness models also confirm the presence of a significant association between dividend policy and board financial expertise in both equity markets.

Originality/value

This study introduces the financial expertise on a board as a determinant of dividend policy. To the best of the authors’ knowledge, no previous studies have focused on board-level financial expertise as a contributing factor toward dividend policy.

Details

Management Decision, vol. 56 no. 9
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 9 August 2022

Mirela Panait, Laeeq Razzak Janjua, Simona Andreea Apostu and Constanta Mihăescu

Carbon dioxide emissions affect the environment, presenting major implications for sustainable development and consequently model climate change policies. The main aim of…

Abstract

Purpose

Carbon dioxide emissions affect the environment, presenting major implications for sustainable development and consequently model climate change policies. The main aim of the paper is to highlight the factors leading to CO2 emissions in Latin America.

Design/methodology/approach

The analysis was performed using data for 1990–2020 and panel regression and STATA software.

Findings

The results highlighted that the variables have significantly influence CO2 emissions in case of the countries in the sample.

Originality/value

The novelty of the paper consists in using all financial inflows of together (foreign direct investment, official development assistance and remittences), Latin America heavily in-flowed with remittances from the USA. Since Latin America is enriched with forest areas, the authors also covered this variable in the estimations. Urbanization and transportation are induced by remittance inflows, thus wellbeing was incorporated in the model. The conclusion of the study demonstrates the need for complex measures involving public-private partnerships, public awareness of the need for energy transition and the involvement of foreign-owned companies that must not only pursue their own interests but also generate positive economic, environmental, and social externalities in host countries.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

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